Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: day Break for Tuesday, February one. Coming up today, President
Speaker 1: Biden stops in Poland after yesterday's surprise visit to Ukraine.
Speaker 1: HSBC considers a special payout after profit jumps. Walmart and
Speaker 1: Home Depot report earnings this morning, and results are in
Speaker 1: from the largest ever four day work week trial. New
Speaker 1: quakes in Turkey and Syria have left more dead, plus
Speaker 1: New York Congressman George Santos admits he's a terrible lawyer.
Speaker 1: I'm Michael Barr. More ahead, I'm John Stas shown sports,
Speaker 1: the Rangers lost to Winnipeg. The Islanders one in Pittsburgh
Speaker 1: Bay Yankees held their first full team workout. That's all
Speaker 1: straight ahead on Bloomberg day Break, The Business news you
Speaker 1: need disturb your day, and just one fifteen minute podcast
Speaker 1: each pointing on Apples, Spotify, the Bloomberg Business app and
Speaker 1: everywhere you get your podcasts. Good morning. I'm Nathan Hagar
Speaker 1: and I'm Karin Moscow. Here are the stories we're following today.
Speaker 1: The latest on President Biden's surprise trip to Ukraine. President
Speaker 1: is now in Poland. He'll meet with President Andre Doodap
Speaker 1: and he's scheduled to deliver an address tonight. Amy Morris
Speaker 1: has details from our Bloomberg newsroom in Washington. President Biden
Speaker 1: will use his address in Poland to deliver a message
Speaker 1: to Russia that NATO is stronger than ever united in
Speaker 1: its support of Ukraine. While in Kiev, President Biden said
Speaker 1: his goal was to reaffirm his administration's unwavering and unflagging
Speaker 1: commitment to Ukraine's democracy, sovereignty, and territorial integrity. It's worth
Speaker 1: for as long as it takes. And that's how long
Speaker 1: we're gonna be with you, Mr President, for as long
Speaker 1: as it takes. In his remarks, the President also announced
Speaker 1: an additional half billion dollars in aid for Ukraine in Washington.
Speaker 1: I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you all.
Speaker 1: Turning to the markets now, stocks are lower as you
Speaker 1: begin a shortened trading week, and they'll drop even further.
Speaker 1: According to Morgan Stanley, the firm strategist led by Mike Wilson,
Speaker 1: says the S and P five hundred could slide as
Speaker 1: much as in the first half of this year. Wilson,
Speaker 1: you correctly predicted the sell off in stocks last year,
Speaker 1: says recent economic data suggests the economy might be able
Speaker 1: to dodge your a session, but that has also taken
Speaker 1: the possibility of a FED pivot off the table, and
Speaker 1: Goldman Sachs also doesn't see a FED pivot this year.
Speaker 1: Karen Chief economist John Hatzius sees the Central Bank raising
Speaker 1: interest rates by twenty five basis points. That it's March,
Speaker 1: May and June meetings. We've seen some higher inflation numbers
Speaker 1: for January. I don't necessarily think that that breaks the
Speaker 1: trend towards this inflation, but I think it reinforces the
Speaker 1: idea that the FED still has work to do, and
Speaker 1: so we think another seventy five basis points from here
Speaker 1: with no cuts until two thousand and twenty four seems
Speaker 1: like a more likely outcome. Goldman Chief economist John Hatzius
Speaker 1: is skeptical that the FED will return to larger fifty
Speaker 1: basis point hikes. Bank earnings also in Bocus overseas this morning,
Speaker 1: Nathan HSBC reported profit above estimates. The lender also said
Speaker 1: it will consider a special payout after the ten billion
Speaker 1: dollar sale of its Canadian unit. Speaking to Bloomberg, HSBC
Speaker 1: is CEO nol Quinn also gave an upbeat assessment of
Speaker 1: the British economy. We're not seeing any major signs of
Speaker 1: stress at the moment in our retail business. Uh, it's
Speaker 1: it's in relatively normal territory. In our wholesale and commercial
Speaker 1: banking business. I think there are some corporates that are
Speaker 1: starting to feel some cash flow pressure because of hiring,
Speaker 1: inflation on higher interest rates, but again that's still fairly marginal,
Speaker 1: I would say at the moment. For us HSBC CEO
Speaker 1: Noel Quinn says the bonus pool for the bank has
Speaker 1: been cut to three point three six billion dollars, down
Speaker 1: from three and a half billion last year. The world's
Speaker 1: biggest mining company has posted profit that fell short of estimates.
Speaker 1: B HP is also cutting its dividend after sluggish demand
Speaker 1: for iron, copper and call. However, CEO Mike Henry is
Speaker 1: optimistic going forward. We're seeing the green shoots come through
Speaker 1: since the start of this calendar year. Increased mobility figures,
Speaker 1: more bank lending, improved business sentiment, property prices up in
Speaker 1: some cities, so that kind of reinforces the positive outlook
Speaker 1: for the that we have for the year ahead. Which
Speaker 1: we expect to offset slowing growth in both the US
Speaker 1: and Europe. B HP CEO Mike Henry says he's also
Speaker 1: optimistic about a demand recovery in China. B HP shares
Speaker 1: right now are down nearly three percent. In London, shares
Speaker 1: a Credit Suite at a record load this morning, Nathan.
Speaker 1: The drop comes as Reuter's reports at Switzerland's financial regulator
Speaker 1: is reviewing comments from a Bloomberg interview. It's looking at
Speaker 1: part of a conversation where Chairman Actual Lehman set outflows
Speaker 1: from Credit Suite of stabilized. And here's what he said
Speaker 1: from that interview in December. Doubt was basically have stopped.
Speaker 1: What we saw is two three weeks in October womb
Speaker 1: and since then flattening out, they have stopped. It's gradually
Speaker 1: coming back, and particular in Switzerland, and that's Credit Swite
Speaker 1: chairman Actually Lehman speaking to Bloomberg in December. So far,
Speaker 1: both Switzerland's financial regulator and Credit Suite are declining to
Speaker 1: comment on Reuter's report. Well back here the US Karen
Speaker 1: retail will be in focus this morning. Is both Walmart
Speaker 1: and Home Depot report earnings. Let's get a preview of
Speaker 1: Walmart's results now with Bloomberg's Jeff Ballinger. Walmart's own guidance
Speaker 1: for the fourth quarter was for a same store sales
Speaker 1: gain of around three percent. Bloomberg Intelligence says the giant
Speaker 1: retailer had a solid holiday season and sales may have
Speaker 1: exceeded the forecast as consumers look for value. Walmart has
Speaker 1: said it's adjusted profit likely declined because labor and other
Speaker 1: costs remain high, but the company has been pushing back
Speaker 1: on further price increases by suppliers. Discounts and a shift
Speaker 1: in the consumer spending mixed toward more food and less
Speaker 1: general merchandise may have caused a small contraction in gross margin.
Speaker 1: Jeff Bollinger, Bloomberg day Break, Right, Jeff, thanks well over
Speaker 1: in the UK, results are in from the largest ever
Speaker 1: trial of the four day work week, and we go
Speaker 1: live to London and get the details from Bloomberg's You
Speaker 1: in Parts. Good Morning, You in Good morning Karen Nathan,
Speaker 1: how do you fancy a permanently shorter working week? While
Speaker 1: the world's biggest ever trial of a four day work
Speaker 1: week has found that most companies say they don't plan
Speaker 1: to return to the five day standards. The UK study
Speaker 1: involves sixty organizations and nearly three thousand workers compressing their
Speaker 1: normal week into fewer days. When employees were asked about
Speaker 1: returning to the old schedule, one in six said that
Speaker 1: no amount of money will be enough to persuade them
Speaker 1: to go back. In London working a five day work week,
Speaker 1: I'm you in parts day break, Thanks you and local headlines.
Speaker 1: Straight ahead, This is Bloomberg. Thirty eight degrees in New York.
Speaker 1: Scattered showers this morning. They'll be back late this afternoon
Speaker 1: as well as we head to near fifty degrees. Will
Speaker 1: clear out late tonight, get down to the mid thirties.
Speaker 1: Time Now for a look at some of the other
Speaker 1: stories making news in New York and around the world,
Speaker 1: with Bloomberg's Michael Bark. Good morning, Michael, Good morning Nathan.
Speaker 1: A pair of earthquakes, including a six point for magnitude,
Speaker 1: struck Turkeys Southeastern Province, two weeks after major tremors in
Speaker 1: the same area left tens of thousands of people dead.
Speaker 1: Three people were killed and more than two hundred taken
Speaker 1: to hospitals after the quakes on Monday evening. Around one
Speaker 1: point six million people are currently housed in temporary shelters
Speaker 1: from the quakes. Starting two weeks ago, the tensions between
Speaker 1: the US and China have eat it up even more
Speaker 1: over the long weekend. Bloomberg's that Baxter as the story,
Speaker 1: both in words and actions. President Biden's surprise trip to
Speaker 1: Ukraine and comments saying that China must not form an
Speaker 1: alliance with Russia regarding the invasion tied to China's top
Speaker 1: diplomat going to meet Russian leaders in Moscow and shin
Speaker 1: Wa publishing a long piece criticizing US policy, saying the
Speaker 1: US misbehaves from military to cultural. It says the US
Speaker 1: embeds its values in products. This not even to mention
Speaker 1: the US congressional delegation in Taiwan meeting with President sighing
Speaker 1: when in San Francisco, I'm at Baxter Bloomberg Daybreak. He's
Speaker 1: under investigation by low coal, state and federal lawmakers over
Speaker 1: a suspected campaign finance violations. New York Republican Congressman George
Speaker 1: Santos has gotten criticisms from everyday Americans for lying about
Speaker 1: his past. Well, I've been a terrible liar. This wasn't
Speaker 1: about tricking anybody, This wasn't about this it's it's no, no, no, no,
Speaker 1: let me. It was about tricking. Let me finish. It
Speaker 1: wasn't about tricking to the people. This was about getting
Speaker 1: accepted by the party. Here local the Long Island Republicans
Speaker 1: spoke to talk TV host Pierce Morgan. The NYPD continues
Speaker 1: to search for the man who vandalized a mobile synagogue
Speaker 1: in Manhattan. The van was parked near Broadway and Prince Street.
Speaker 1: Authorities released video of a man riding Palestine on the
Speaker 1: outside of a mobile Mitzvah tank. Police say the Hate
Speaker 1: Crimes Task Force is investigating the incident. Authorities in a
Speaker 1: New Jersey school district have announced new managures aimed at
Speaker 1: stemming violence following a stabbing outside of high school last week.
Speaker 1: They killed a teenager and wounded another. Patterson Public Schools
Speaker 1: said that police had agreed to provide walking police patrols
Speaker 1: on streets around Patterson's East Side High School from two
Speaker 1: pm to four pm. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than twenty seven hundred journalist an analysts in over
Speaker 1: a hundred twenty countries. I'm Michael bar This is Bloomberg Nathan.
Speaker 1: Thank you, Michael time for the Bloomberg Sports update brought
Speaker 1: to you by Trice State Outy. For that, we're bringing
Speaker 1: John stash Our, Thanks Nathan. Rangers back home. They came
Speaker 1: into the Garden red hot seven oh and one of
Speaker 1: the last eight games. He had a big edge and
Speaker 1: shots on goldbo Winnipeg goalie Connor Hellabuck made fifty says
Speaker 1: Mark Sifey scored twice the Jets one four to one
Speaker 1: first regulation lost with the Rangers in the January nine.
Speaker 1: Islanders had a big comeback this past Friday against the Penguins.
Speaker 1: They did it again in Pittsburgh. They trailed third period.
Speaker 1: Penguins bring it to the nearest side, Balcon dangerously in
Speaker 1: front of his net for Joseph quips it off the
Speaker 1: glass fars but turned it over. Here's more that through
Speaker 1: the right circle. Shop An let's sit home from the
Speaker 1: right circle and has tied this game at Chris k
Speaker 1: to r h ut go for Horvath in New Islander
Speaker 1: and two minutes later and there's least going his twenty
Speaker 1: second of the year the Isles one four to two.
Speaker 1: College Roops twenty win for Duke in this first season
Speaker 1: without my succesty Duke beat Louisville, whose record is four
Speaker 1: and twenty four. Kansas won the n c AS last year.
Speaker 1: They could do it again. Jay Opson ranked third. They
Speaker 1: want at TCU Houston at twenty five and two ranked
Speaker 1: number one the third different time. Russell Westbrook been all
Speaker 1: those years at Oklahoma City. He's been bouncing around the
Speaker 1: NBA lately. He was with the Lakers, got traded to Utah,
Speaker 1: got bought out there. Westbrook will now signed with the
Speaker 1: l A Clippers. And Patrick Beverley also was a Laker,
Speaker 1: and he seems headed now to Chicago. Jana Sons of
Speaker 1: the Compo came to New York for an exam on
Speaker 1: his injured risk. He's got a spring ligament, full Yankee
Speaker 1: squad workout in Tampa. So Aaron Judges first press conference,
Speaker 1: he was asked about another sixty two home run season.
Speaker 1: Judge said, you can never know. John Stash Allen Conberg
Speaker 1: Sports live from coast to coast, from New York to
Speaker 1: San Francisco, Boston to Washington, d C. Nationwide on Sirius XAMP,
Speaker 1: the Bloomberg Business app, and Bloomberg dot Com. This is
Speaker 1: Bloomberg Daybreak. Good morning. I'm Nathan Hagar. President Biden will
Speaker 1: be looking to build on his surprise wartime trip to
Speaker 1: Kiv when he meets today with the President of Poland
Speaker 1: and gives a major speech in Warsaw to market year
Speaker 1: since Russia's invasion of Ukraine. Meantime, the President of Russia,
Speaker 1: Vladimir Putin is vowing to press on with his faltering
Speaker 1: invasion until Russia's goals are achieved. Putin is giving a
Speaker 1: speech of his own to parliament in Moscow. Right now.
Speaker 1: We're joined live at the meantime by Bloomberg Warsaw Bureau
Speaker 1: chief Pyotr Skalamowski as these two leaders get set to
Speaker 1: address their domestic audiences and the world. Really, Pyotr, good morning.
Speaker 1: What is standing out to you? First off, from what
Speaker 1: the Russian president is saying as we head towards year
Speaker 1: two of the war in Ukraine. Hi, indeed, so it's
Speaker 1: obviously probably not a big surprise, but putting it has
Speaker 1: struck a very defiant note. So he obviously more or
Speaker 1: less doubles down on on what he's been telling the
Speaker 1: world since the war since his invasion actually started a
Speaker 1: year ago. First of all, he said that you know
Speaker 1: this is this is go. He will solve what he
Speaker 1: called the task step by step carefully and consistently, meaning
Speaker 1: he's preparing his his population also for a for a
Speaker 1: long war. This is not going to end very quickly.
Speaker 1: And obviously he repeated the the phrase that he was before,
Speaker 1: which was also kind of served as a as the
Speaker 1: purpose for the war previously, that you know, the Russia
Speaker 1: is finding for for for historic lands, describing Ukraine as
Speaker 1: as as part of the of the Russia historically. Um.
Speaker 1: So we more or less hearing more of the same
Speaker 1: from Putting and an indication that he has not done,
Speaker 1: if anything, he's ready to go um go there for
Speaker 1: a long haul. So, given that we're not hearing much
Speaker 1: different from the Russian president right now, are you expecting
Speaker 1: that the remarks that we're hearing from Moscow are going
Speaker 1: to affect what President Biden has to say at all
Speaker 1: when he delivers his speech in Warsaw later this evening. Well, well,
Speaker 1: we heard from Jake Sullivan he was briefing reporters here
Speaker 1: in Warsaw. He said that obviously Biden's remarks are not
Speaker 1: going to um to be directly, uh, won't be a
Speaker 1: direct response to what Putt inside and his his his
Speaker 1: remarks will be broked. But obviously it's it's hard to um,
Speaker 1: you know, to to not to compare these two speeches.
Speaker 1: But obviously the message that we're going to get from
Speaker 1: from Biden most likely will be, uh, sort of the
Speaker 1: echo what he heard from what we heard from him
Speaker 1: in Kiev, which is, you know, um, the West State
Speaker 1: it stands united, So the NATO is together, so the
Speaker 1: war has has actually united um, the Western NATO, and
Speaker 1: and that the US is there for a long hall
Speaker 1: as well. Um. Something that he said in Ukraine was
Speaker 1: you know, the US is therefore as long as it
Speaker 1: takes for Ukraine to to become independent. And he also
Speaker 1: stressed that, you know, the the Ukraine was supposed to
Speaker 1: fall within days. Now Ukraine's Ukraine stands, Kiev stands, and
Speaker 1: what he said, democracy stands. So we can sort of
Speaker 1: imagine this is going to be the sort of the
Speaker 1: narrative we're going to hear this, you know, this president
Speaker 1: representing the democracy and and Putting representing the autocracy. Given
Speaker 1: that image that we saw over the weekend of President Biden,
Speaker 1: you know, standing side by side with Ukrainian President Zelenski
Speaker 1: and walking through key of his air raid sirens blared.
Speaker 1: What message does that send to Europe he and allies?
Speaker 1: And can the President capitalize on that in the speech tonight?
Speaker 1: Absolutely obviously, you know, as anything with this conflict that
Speaker 1: it's obviously for for for history books. But you know
Speaker 1: the fact that the U. S. President goes into conflict
Speaker 1: zone in a place where there are no U S. Basis,
Speaker 1: no actual military presence, is you know, speaks volumes right,
Speaker 1: it's it's and it and it was not just fly
Speaker 1: in and out. It's it was a ten hour trip
Speaker 1: by train through the conflict zone. So it's it's a
Speaker 1: major message of defiance. And I think it kind of
Speaker 1: builds up the momentum for this speech. Um. So if
Speaker 1: if anyone doubts the words that the Biden is going
Speaker 1: to deliver that there is there's confident, there's there's defiance,
Speaker 1: you know, he can just point out to what he
Speaker 1: has just done, um that you know, the the fact
Speaker 1: that you know, he he's been there, he's shown support,
Speaker 1: is you know, speaks volumes um as well as you
Speaker 1: know all the commitments because obviously, um Biden also promised
Speaker 1: additional help. I mean one thing there obviously is that
Speaker 1: this helper might not be as as substantial as Ukraine
Speaker 1: was hoping for, because they're obviously pushing for for fighter
Speaker 1: jets right now there's no approval of that, but um
Speaker 1: at least you know there's additional help and and there's
Speaker 1: a sense that the US will will be there for
Speaker 1: long haul. This is Bloomberg day Break Today, your morning
Speaker 1: brief on the story is making news from Wall Street
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