1 00:00:03,480 --> 00:00:06,760 Speaker 1: Live from the Bloomberg Interactive Burgers Studios. Is is is Bloomberg 2 00:00:06,880 --> 00:00:10,280 Speaker 1: Daybreak for a Monday, May nine two coming up this hour. 3 00:00:10,600 --> 00:00:13,399 Speaker 1: Stocks fall and the dollar extends its rally as we 4 00:00:13,440 --> 00:00:16,840 Speaker 1: begin a new trading week. Vladimir Putin justifies his invasion 5 00:00:16,920 --> 00:00:20,200 Speaker 1: of Ukraine at the annual Victory Day celebration in Russia, 6 00:00:20,360 --> 00:00:23,520 Speaker 1: and President Biden plants swap for free internet to millions 7 00:00:23,520 --> 00:00:27,000 Speaker 1: of homes. New York Governor Kathy Hocle test positive for 8 00:00:27,080 --> 00:00:30,400 Speaker 1: COVID plus Democrats help to pass legislation to preserve aboartion 9 00:00:30,520 --> 00:00:34,479 Speaker 1: rights protections. I'm Michael barn More Ahead, I'm John stash 10 00:00:34,479 --> 00:00:37,560 Speaker 1: Our in sports Mets and Yankees with doubleheader splits, NBA 11 00:00:37,600 --> 00:00:40,559 Speaker 1: playoff wins for Dallas and Philadelphia, the Rangers at Game 12 00:00:40,640 --> 00:00:45,839 Speaker 1: boor in Pittsburgh tonight. That's all s train ahead on 13 00:00:45,960 --> 00:00:51,640 Speaker 1: Bloomberg Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington, 14 00:00:51,760 --> 00:00:55,880 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 15 00:00:55,880 --> 00:01:00,000 Speaker 1: San Francisco, Syrius XM one nineteen and around the world 16 00:01:00,000 --> 00:01:03,120 Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg 17 00:01:03,160 --> 00:01:10,240 Speaker 1: Business App and good morning. I'm Karen Moscow, I'm Nathan Hagar. 18 00:01:10,240 --> 00:01:12,520 Speaker 1: Bloomberg Daybreak brought to you by B and Y Melon's 19 00:01:12,520 --> 00:01:15,440 Speaker 1: Pershing Learned why the world's most sophisticated wealth management and 20 00:01:15,520 --> 00:01:19,200 Speaker 1: institutional firms rely on Pershing to help them improve profitability, 21 00:01:19,280 --> 00:01:23,399 Speaker 1: create efficiency, attract talent, and manage risk at Pershing dot Com. 22 00:01:23,440 --> 00:01:26,560 Speaker 1: And futures are lower this morning. It is six oh 23 00:01:26,560 --> 00:01:28,400 Speaker 1: one on Wall Street, and we check the markets every 24 00:01:28,400 --> 00:01:31,200 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg Guess and 25 00:01:31,240 --> 00:01:34,360 Speaker 1: P futures down sixty four points down, futures down four 26 00:01:34,400 --> 00:01:37,360 Speaker 1: hundred nine and as day futures down two D three 27 00:01:37,680 --> 00:01:40,280 Speaker 1: ten year Treasury down sixty and thirty seconds. He had 28 00:01:40,360 --> 00:01:43,120 Speaker 1: three point one nine percent and they yield on the 29 00:01:43,160 --> 00:01:46,360 Speaker 1: two year two point seven zero percent and nim Ex 30 00:01:46,360 --> 00:01:50,520 Speaker 1: screwed oil is falling down one point eight percent. Nathan, Yeah, Karen, 31 00:01:50,560 --> 00:01:52,080 Speaker 1: looks like more of the same as we enter this 32 00:01:52,160 --> 00:01:54,760 Speaker 1: new trading week stock slumping in the dollar is trading 33 00:01:54,760 --> 00:01:58,000 Speaker 1: at a two year high as the feds aggressive tightening 34 00:01:58,000 --> 00:02:02,000 Speaker 1: path and China's COVID lockdowns hit the economic outlook. Steve Brown, 35 00:02:02,120 --> 00:02:06,000 Speaker 1: his senior portfolio manager at American Century Investment Management. The 36 00:02:06,000 --> 00:02:08,520 Speaker 1: fan's gonna continue to raise rates untill they get the 37 00:02:08,560 --> 00:02:11,240 Speaker 1: results they want, and I think one of the after 38 00:02:11,280 --> 00:02:13,639 Speaker 1: effects of their rate hikes will be a slowdown in 39 00:02:13,720 --> 00:02:15,480 Speaker 1: GDP in the second half of the year in the 40 00:02:15,560 --> 00:02:18,560 Speaker 1: United States, as well as the reduction and earned mids 41 00:02:18,600 --> 00:02:21,560 Speaker 1: for many companies within the SMP five hundred. American Century. 42 00:02:21,600 --> 00:02:24,120 Speaker 1: Steve Brown notes the SMP five hundreds coming off it's 43 00:02:24,160 --> 00:02:27,440 Speaker 1: fifth straight weekly dropped. That's the longest losing streak since 44 00:02:28,440 --> 00:02:30,880 Speaker 1: Well Nathan. There was heavy selling in Asia over night. 45 00:02:30,960 --> 00:02:34,200 Speaker 1: Japan's NK dropped two and a half percent, while stocks 46 00:02:34,200 --> 00:02:37,400 Speaker 1: in Hong Kong plunged three point eight percent. To get 47 00:02:37,400 --> 00:02:40,840 Speaker 1: the recap from Bloomberg's Juliets Sally and Singapore Good Morning, Juliet, 48 00:02:40,960 --> 00:02:42,919 Speaker 1: Good Morning car and China's on shore you on slid 49 00:02:42,960 --> 00:02:44,880 Speaker 1: past six pot seven to the dollar for the first 50 00:02:44,919 --> 00:02:48,239 Speaker 1: time since twenty twenty a mid data showing stagnating imports 51 00:02:48,240 --> 00:02:51,480 Speaker 1: in the slowest export growth in dollar terms since the pandemic. 52 00:02:51,760 --> 00:02:54,520 Speaker 1: Premier Li Ka Chung warned about the employment situation as 53 00:02:54,560 --> 00:02:58,040 Speaker 1: Beijing and Shanghai tiight and virus curbs, sending Stokes lo 54 00:02:58,200 --> 00:03:02,200 Speaker 1: Um Australia's dollar slaw against the green back, testing seventy 55 00:03:02,320 --> 00:03:05,400 Speaker 1: US since. Indonesian stocks felm the most since in November 56 00:03:05,400 --> 00:03:08,600 Speaker 1: twenty twenty as markets reopened after the week long id 57 00:03:08,680 --> 00:03:13,079 Speaker 1: holiday in Singapore. Juliette Sally Bloomberg Daybreak, All right, Juliette, 58 00:03:13,080 --> 00:03:14,840 Speaker 1: thank you. We now turned to the war in Europe. 59 00:03:14,919 --> 00:03:17,840 Speaker 1: As Russia's invasion of Ukraine enters its tenth week, President 60 00:03:17,880 --> 00:03:21,040 Speaker 1: Vladimir Putin is presiding over his annual display of military 61 00:03:21,120 --> 00:03:24,080 Speaker 1: mate on Moscow's Red Square. Let's get the very latest 62 00:03:24,080 --> 00:03:27,240 Speaker 1: from Bloomberg's un Parts. Good morning, Good morning, cond Nathan, 63 00:03:27,280 --> 00:03:29,920 Speaker 1: Russia's president has justified his war in Ukraine as a 64 00:03:29,960 --> 00:03:33,799 Speaker 1: battle comparable to the fight against Nazi Germany. As Putin's 65 00:03:33,840 --> 00:03:36,960 Speaker 1: faltering ten week old military action rumbles on, He's been 66 00:03:37,000 --> 00:03:41,640 Speaker 1: speaking at Russia's annual Victory Day celebration on Moscow's Red Square. 67 00:03:41,960 --> 00:03:45,960 Speaker 1: This year's display included eleven thousand troops and weaponry, including tanks, 68 00:03:46,040 --> 00:03:49,240 Speaker 1: air defense systems, and nuclear missile launches, but this year 69 00:03:49,360 --> 00:03:52,240 Speaker 1: foreign leaders were not invited. In London, I'm you and 70 00:03:52,240 --> 00:03:54,480 Speaker 1: Parts Bloomberg Daybreak, All right, new and thank you all 71 00:03:54,480 --> 00:03:56,640 Speaker 1: back here, in the UN, the government is adding more 72 00:03:56,800 --> 00:03:59,840 Speaker 1: sanctions on Russia, including a band at American accounting and 73 00:04:00,040 --> 00:04:03,160 Speaker 1: consulting firms, and Bloomberg states Baxter has the story. The 74 00:04:03,160 --> 00:04:07,080 Speaker 1: measures also include new export controls on industrial goods, limits 75 00:04:07,080 --> 00:04:10,160 Speaker 1: on three of Russia's top state controlled TV stations, and 76 00:04:10,240 --> 00:04:14,640 Speaker 1: additional visa restrictions. Now, the accounting part imposes the first 77 00:04:14,800 --> 00:04:20,159 Speaker 1: sanctions on gas Prom Bank, encompassing twenty seven sanctions. It 78 00:04:20,279 --> 00:04:22,480 Speaker 1: is a first there because the US was afraid of 79 00:04:22,520 --> 00:04:25,200 Speaker 1: disrupting oil shipments, but now that the G seven has 80 00:04:25,200 --> 00:04:28,760 Speaker 1: approved cutting those shipments, it decided to go ahead. In 81 00:04:28,880 --> 00:04:31,720 Speaker 1: San Francisco, I'm at Baxter Bloomberg, Gay break all right, 82 00:04:31,760 --> 00:04:34,080 Speaker 1: and thank you. President Biden is also working on his 83 00:04:34,080 --> 00:04:36,440 Speaker 1: political agenda back home. He is about to make high 84 00:04:36,480 --> 00:04:39,479 Speaker 1: speed internet more widely available across the United States, even 85 00:04:39,520 --> 00:04:42,400 Speaker 1: for households that normally can't afford it. Amy Morris has 86 00:04:42,440 --> 00:04:46,120 Speaker 1: details from our Bloomberg newsroom in Washington. It is part 87 00:04:46,120 --> 00:04:49,960 Speaker 1: of the infrastructure law that passed last year. Twenty internet providers, 88 00:04:49,960 --> 00:04:53,039 Speaker 1: including A T and T, Comcast, and Verizon, agreed to 89 00:04:53,080 --> 00:04:56,520 Speaker 1: offer high speed connections at essentially no cost to millions 90 00:04:56,520 --> 00:05:00,000 Speaker 1: of low income households. Sources tell Bloomberg News some company 91 00:05:00,000 --> 00:05:02,840 Speaker 1: these will drop the prices of existing plans, others will 92 00:05:02,960 --> 00:05:05,720 Speaker 1: raise their speed. The companies word offered anything, and they 93 00:05:05,720 --> 00:05:09,040 Speaker 1: won't get additional government funding. The government is also launching 94 00:05:09,040 --> 00:05:11,880 Speaker 1: a website called get Internet dot gov to get more 95 00:05:11,880 --> 00:05:15,320 Speaker 1: people involved in the program. President Biden will formally announce 96 00:05:15,360 --> 00:05:18,520 Speaker 1: the plan today in Washington. I maybe more as Bloomberg Daybreak. 97 00:05:18,560 --> 00:05:20,960 Speaker 1: All right, Amy, thank you Abhout staying in Washington. Now. 98 00:05:21,000 --> 00:05:23,320 Speaker 1: It looks like the US government had a record tax 99 00:05:23,360 --> 00:05:25,200 Speaker 1: hall of this spring. Some of the credit goes to 100 00:05:25,240 --> 00:05:28,719 Speaker 1: the surge in individual stock trading by Americans. According to 101 00:05:28,760 --> 00:05:31,360 Speaker 1: Treasury Department data, tax collections since the start of the 102 00:05:31,400 --> 00:05:34,080 Speaker 1: fiscal year in October are running at a record high 103 00:05:34,400 --> 00:05:38,719 Speaker 1: up some of this same period in nat Star past 104 00:05:38,760 --> 00:05:41,920 Speaker 1: Wall Street and is helping to shrink the budget deficit. Well, 105 00:05:41,960 --> 00:05:44,960 Speaker 1: tax collections go up, Karen, so does the price of gas. 106 00:05:45,080 --> 00:05:47,760 Speaker 1: In fact, the average price of regular grade gasoline jumped 107 00:05:47,760 --> 00:05:50,760 Speaker 1: fifteen cents over the past two weeks to four dollars 108 00:05:50,760 --> 00:05:53,840 Speaker 1: and thirty eight cents per gallon. Industry analyst Trophy Lendbergh 109 00:05:53,880 --> 00:05:55,839 Speaker 1: says that's a dollar thirty six higher than it was 110 00:05:55,839 --> 00:05:59,520 Speaker 1: a year ago. Nationwide, the average the highest average price 111 00:05:59,560 --> 00:06:02,159 Speaker 1: for regular grade is in the San Francisco Bay area 112 00:06:02,279 --> 00:06:05,479 Speaker 1: five eight five a gallon. Alright, Nathan Well, another former 113 00:06:05,520 --> 00:06:08,880 Speaker 1: Trump administration official, is telling all about the inner workings 114 00:06:08,920 --> 00:06:12,000 Speaker 1: of the wine house. Former Defense Secretary Mark Esper said 115 00:06:12,240 --> 00:06:15,280 Speaker 1: he prevented dangerous things from happening during his time at 116 00:06:15,279 --> 00:06:20,080 Speaker 1: the Pentagon, like attacking Venezuela and blockading Cuba Aspersa. As President, 117 00:06:20,080 --> 00:06:23,880 Speaker 1: Trump even suggested military action closer to home. The President 118 00:06:24,480 --> 00:06:26,800 Speaker 1: pulls me aside on at least a couple occasions and 119 00:06:26,839 --> 00:06:30,800 Speaker 1: suggests that maybe we have the US military shoot missiles 120 00:06:30,839 --> 00:06:34,320 Speaker 1: into Mexico, shoot missiles into Mexico. For what he would 121 00:06:34,360 --> 00:06:37,560 Speaker 1: say to go after the cartel's. Former Defense Secretary Mark 122 00:06:37,680 --> 00:06:40,760 Speaker 1: Esper tells CBS is sixty minutes. The former president told 123 00:06:40,839 --> 00:06:43,279 Speaker 1: him no one would know the attack came from the US. 124 00:06:43,560 --> 00:06:46,480 Speaker 1: Trump responded to Esper's claim and a statement, writing, quote 125 00:06:46,520 --> 00:06:49,680 Speaker 1: no comment. Listeners in the Washington area can hear sixty 126 00:06:49,720 --> 00:06:53,200 Speaker 1: minutes every Sunday night at ten on Bloomberg and the 127 00:06:53,279 --> 00:06:56,080 Speaker 1: programming not this morning, Karen, please join us on Bloomberg 128 00:06:56,160 --> 00:06:59,880 Speaker 1: Surveillance when we speak live with Atlanta Fed President Raphael Bost. 129 00:07:00,200 --> 00:07:02,440 Speaker 1: That's coming up at eight am Wall Street time on 130 00:07:02,480 --> 00:07:06,599 Speaker 1: both Bloomberg Radio and Bloomberg Television. Right now, SMP futures 131 00:07:06,600 --> 00:07:09,760 Speaker 1: are down sixty three points, STOW futures down fourdered four, 132 00:07:10,120 --> 00:07:13,160 Speaker 1: NASTAC futures are lower by two un A thirty seven points. 133 00:07:13,200 --> 00:07:16,800 Speaker 1: Straight ahead, your latest local headlines plus a check of sports. 134 00:07:17,320 --> 00:07:24,520 Speaker 1: This is Bloomberg and it's now six oh seven on 135 00:07:24,520 --> 00:07:27,080 Speaker 1: Wall Street where forty seven degrees in Central Park got 136 00:07:27,120 --> 00:07:30,840 Speaker 1: an accident investigation in Nassau County. Westbound Southern States closed 137 00:07:30,880 --> 00:07:33,840 Speaker 1: at Central Avenue. More coming up in traffic. First Michael 138 00:07:33,840 --> 00:07:35,720 Speaker 1: Barr with more on what's going on in New York 139 00:07:35,760 --> 00:07:38,040 Speaker 1: and around the world. Good morning, Michael, Good morning Nathan. 140 00:07:38,080 --> 00:07:41,480 Speaker 1: New York Governor Kathy Hokel has tested positive for COVID nineteen. 141 00:07:41,920 --> 00:07:44,760 Speaker 1: The governor made the announcement in a tweet yesterday afternoon. 142 00:07:45,040 --> 00:07:48,200 Speaker 1: Governor Hokel says she is vaccinated and boosted against the 143 00:07:48,240 --> 00:07:51,840 Speaker 1: virus and is feeling a symptomatic due to the positive 144 00:07:51,840 --> 00:07:54,960 Speaker 1: test results. You will isolate and work remotely this week. 145 00:07:55,480 --> 00:07:58,840 Speaker 1: Democrats are working to force a vote codify abortion rights 146 00:07:58,840 --> 00:08:02,200 Speaker 1: for women, but X it's believed that vote will likely 147 00:08:02,360 --> 00:08:06,040 Speaker 1: be blocked and the court's ruling will stand. Senator Amy 148 00:08:06,040 --> 00:08:09,560 Speaker 1: Clobachar Minnesota says that if the Democrats are unable to 149 00:08:09,600 --> 00:08:13,680 Speaker 1: successfully pass this legislation, the voters will respond. If we 150 00:08:13,760 --> 00:08:16,840 Speaker 1: are not successful, then we go to the ballot box. 151 00:08:17,080 --> 00:08:19,560 Speaker 1: We march straight to the ballot box, and the women 152 00:08:19,680 --> 00:08:22,520 Speaker 1: of this country and the men who stand with them 153 00:08:22,680 --> 00:08:26,360 Speaker 1: will vote like they've never voted before. Lawmakers in several 154 00:08:26,400 --> 00:08:29,680 Speaker 1: states are already beginning to put in place their legislations 155 00:08:29,720 --> 00:08:34,120 Speaker 1: restricting abortions. In Arkansas, Governor Asa Hutchinson signed a bill 156 00:08:34,240 --> 00:08:37,440 Speaker 1: last year that prohibits abortion in all cases except to 157 00:08:37,480 --> 00:08:40,559 Speaker 1: save the life of the mother. We wanted the reversus 158 00:08:40,600 --> 00:08:43,480 Speaker 1: wade reversed and the authority to return to the states, 159 00:08:44,040 --> 00:08:47,680 Speaker 1: and and so as a matter of principle, that's where 160 00:08:47,679 --> 00:08:51,880 Speaker 1: it should be. Governor Hutchinson and Senator Clobachar spoke on 161 00:08:51,960 --> 00:08:55,040 Speaker 1: ABC's This Week, which can be here at Sundays on Bloomberg. 162 00:08:55,520 --> 00:08:59,839 Speaker 1: Dangerous gusty winds are expected to continue across northeast New 163 00:08:59,880 --> 00:09:04,360 Speaker 1: Mexico today. That's likely to complicate the flight against wildfires 164 00:09:04,400 --> 00:09:08,440 Speaker 1: that threatened thousands of homes in mountainous rural communities. A 165 00:09:08,480 --> 00:09:12,080 Speaker 1: growing number of parents nationwide face a shortage of baby 166 00:09:12,200 --> 00:09:16,000 Speaker 1: formula due to supply chain issues, and a February recall 167 00:09:16,160 --> 00:09:19,160 Speaker 1: of three popular brands made by Abbot. Dr A Lock 168 00:09:19,240 --> 00:09:22,839 Speaker 1: Betel is with Stanford Children's Health. For parents out there 169 00:09:22,920 --> 00:09:24,960 Speaker 1: right now who are struggling to find a formula, one 170 00:09:25,000 --> 00:09:27,400 Speaker 1: easy thing you can do is trying to switch formulas. 171 00:09:27,440 --> 00:09:30,439 Speaker 1: See if your child can tolerate that. Dr Patel spoke 172 00:09:30,480 --> 00:09:34,439 Speaker 1: to ABC. An earthquake centered northeast of South Carolina's capital 173 00:09:34,440 --> 00:09:38,920 Speaker 1: city jolted large numbers of state residents awake. Authorities say 174 00:09:38,960 --> 00:09:42,080 Speaker 1: the quake overnight had a preliminary three point three magnitude. 175 00:09:42,440 --> 00:09:45,080 Speaker 1: Global News twenty four hours a day on air and 176 00:09:45,320 --> 00:09:48,760 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 177 00:09:48,800 --> 00:09:52,040 Speaker 1: journalists and analyst more than a hundred twenty countries. Michael 178 00:09:52,040 --> 00:09:59,319 Speaker 1: Barr and this is Bloomberg, Nathan, Thank you, Michael six 179 00:09:59,400 --> 00:10:01,320 Speaker 1: o nine on Wall Street Time for the Bloomberg Sports 180 00:10:01,400 --> 00:10:04,199 Speaker 1: Update with john Sen shown all right, Athan, Yankees and Mets, 181 00:10:04,280 --> 00:10:06,240 Speaker 1: Let's play to do all the rain at the stadium. 182 00:10:06,320 --> 00:10:08,319 Speaker 1: Yankees won the opener with Texas to one on the 183 00:10:08,400 --> 00:10:10,400 Speaker 1: Labor Toria his home run leading off the bottle of 184 00:10:10,480 --> 00:10:13,199 Speaker 1: ninth and it went to right center field. Chris Woodward, 185 00:10:13,240 --> 00:10:15,360 Speaker 1: the Rangers manager, said it would not have been a 186 00:10:15,360 --> 00:10:18,079 Speaker 1: homer in any other ballpark, and he called Yankee Stadium 187 00:10:18,440 --> 00:10:21,320 Speaker 1: a little league ballpark. Tore As was asked about that, 188 00:10:23,040 --> 00:10:26,360 Speaker 1: I feel like both team play in the symbol par 189 00:10:26,840 --> 00:10:30,880 Speaker 1: and he's a sentimation. Uh. I think I feel good 190 00:10:31,240 --> 00:10:34,760 Speaker 1: to to his walk off homer in the little liberal 191 00:10:34,840 --> 00:10:39,720 Speaker 1: par and I mean happy to one first tour as 192 00:10:39,760 --> 00:10:41,760 Speaker 1: the second welk off head of the season, Yanks denied 193 00:10:41,800 --> 00:10:43,920 Speaker 1: the sweet They led to nothing with a John Carlos 194 00:10:43,920 --> 00:10:46,400 Speaker 1: Stanton home run, but Brad Miller to run shot off 195 00:10:46,440 --> 00:10:48,840 Speaker 1: Michael Kings seventh and the Rangers went four to two. 196 00:10:49,200 --> 00:10:51,280 Speaker 1: King took the loss. He came in having not allowed 197 00:10:51,280 --> 00:10:54,320 Speaker 1: to run in thirteen straight innings. In Philadelphia, the Mets 198 00:10:54,320 --> 00:10:56,480 Speaker 1: lost three to two. Max Jerger struck out ten but 199 00:10:56,520 --> 00:10:58,640 Speaker 1: suffered his first Met loss. He's now four and one. 200 00:10:58,720 --> 00:11:01,280 Speaker 1: Chris Bassett then got his fourth win and the Mets 201 00:11:01,320 --> 00:11:03,559 Speaker 1: took the nightcap six to one, thanks to Pete Alonso 202 00:11:03,640 --> 00:11:05,680 Speaker 1: to run over in the first to name three run 203 00:11:05,720 --> 00:11:08,439 Speaker 1: shot in the fifth NBA and NHL Playoffs. There were 204 00:11:08,440 --> 00:11:11,800 Speaker 1: six games played Sunday and all were Game four's, and 205 00:11:11,880 --> 00:11:14,319 Speaker 1: all six or one by the home team, and all 206 00:11:14,360 --> 00:11:16,880 Speaker 1: six series and outside to two. That's after Dallas beat 207 00:11:16,920 --> 00:11:19,840 Speaker 1: Phoenix in the NBA and Philadelphia top Miami and Stanley 208 00:11:19,840 --> 00:11:23,200 Speaker 1: Cup playoff wins for Boston, Tampa, Bay St. Louis in 209 00:11:23,360 --> 00:11:25,240 Speaker 1: l A. The Rangers hoping to be too two with 210 00:11:25,320 --> 00:11:28,760 Speaker 1: the Penguins after tonight's Game four in Pittsburgh. The Rangers 211 00:11:28,760 --> 00:11:31,680 Speaker 1: two losses have been tough ones, first to triple overtime 212 00:11:32,000 --> 00:11:34,120 Speaker 1: loss in Game one of them Saturday. They fell after 213 00:11:34,280 --> 00:11:37,360 Speaker 1: coming from three goals down to tie things up. John Stash, 214 00:11:37,360 --> 00:11:40,120 Speaker 1: they were Bloomberg Sports Nathan all Right, John, thank you. 215 00:11:40,320 --> 00:11:43,080 Speaker 1: SMP futures down down sixty seven points, a drop of 216 00:11:43,160 --> 00:11:46,439 Speaker 1: one point six percent. Now, DOWT futures down four thirty one. 217 00:11:46,840 --> 00:11:50,040 Speaker 1: NASCAC futures are lower by nearly two percent, down two 218 00:11:50,200 --> 00:11:53,920 Speaker 1: hundred forty five points. The dollar training at at two 219 00:11:54,040 --> 00:11:57,840 Speaker 1: year high. Talk about dollar strength. Next to Jane Foley, 220 00:11:58,320 --> 00:12:01,320 Speaker 1: head of f X strategy at Robbo Bank. You're listening 221 00:12:01,679 --> 00:12:09,160 Speaker 1: to Bloomberg Daybreak, Bloomberg Day break brought to you by 222 00:12:09,160 --> 00:12:11,559 Speaker 1: the Jewish Communal Fund j c F S don'tor advised 223 00:12:11,600 --> 00:12:14,120 Speaker 1: fund is the smart choice to manage a philanthropy, especially 224 00:12:14,120 --> 00:12:16,880 Speaker 1: in times of crisis. Make your giving impactful. Visit j 225 00:12:17,000 --> 00:12:23,960 Speaker 1: c F n Y dot org, markets headlines and breaking 226 00:12:23,960 --> 00:12:26,880 Speaker 1: news twenty four hours a day at Bloomberg dot Com, 227 00:12:27,000 --> 00:12:30,559 Speaker 1: the Bloomberg Business app, and at Bloomberg Quicktake. He's a 228 00:12:30,640 --> 00:12:40,199 Speaker 1: Bloomberg Business lash and I'm Karen Moscow. Investors rushing to 229 00:12:40,240 --> 00:12:43,079 Speaker 1: the safety of the US dollar about global stock slide 230 00:12:43,080 --> 00:12:45,600 Speaker 1: every closer to a bear market as the Federal Reserve's 231 00:12:45,600 --> 00:12:48,720 Speaker 1: aggressive tightening path in China's COVID mockdowns worse in the 232 00:12:48,720 --> 00:12:51,960 Speaker 1: outlook for economic growth, the dollar extending a two year high, 233 00:12:52,080 --> 00:12:54,440 Speaker 1: rising against all of its major peers. We checked the 234 00:12:54,440 --> 00:12:57,719 Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg 235 00:12:57,720 --> 00:13:00,160 Speaker 1: Guess and P Future is down sixty eight points. Out 236 00:13:00,200 --> 00:13:03,240 Speaker 1: futures down four hundred forty three and as DAG futures 237 00:13:03,240 --> 00:13:06,080 Speaker 1: down two hundred fifty one. That's down two percent. The 238 00:13:06,160 --> 00:13:09,320 Speaker 1: decks in Germany is down one percent. The tend your 239 00:13:09,360 --> 00:13:12,560 Speaker 1: treasury down eighteen thirty seconds. You'll three point zero percent. 240 00:13:12,640 --> 00:13:15,240 Speaker 1: They yield on a two year two point seven one percent. 241 00:13:15,720 --> 00:13:18,439 Speaker 1: Nimex Screude oil is down one point seven percent on 242 00:13:18,520 --> 00:13:20,840 Speaker 1: a dollar eighties six and a hundred seven dollars eighty 243 00:13:20,920 --> 00:13:23,480 Speaker 1: nine cents of barrel Comic schoold is down one point 244 00:13:23,480 --> 00:13:25,920 Speaker 1: two percent or twenty two dollars nineties cents at eighteen 245 00:13:25,960 --> 00:13:29,080 Speaker 1: fifty nine ninety announce. The euro one point oh five 246 00:13:29,120 --> 00:13:31,360 Speaker 1: three eight against the dollar British found one point to 247 00:13:31,559 --> 00:13:33,760 Speaker 1: three one eight and the end is at one thirty 248 00:13:33,800 --> 00:13:36,920 Speaker 1: one point one seven. Bitcoin this morning lower down two 249 00:13:36,920 --> 00:13:39,320 Speaker 1: and a half percent at thirty three thousand and three 250 00:13:39,400 --> 00:13:42,480 Speaker 1: hundred sixty dollars. And that's at Bloomberg Business Flash. Now 251 00:13:42,520 --> 00:13:44,800 Speaker 1: here's Michael Barr with more on what's going on around 252 00:13:44,800 --> 00:13:48,560 Speaker 1: the world. Michael, thank you very much, Cameron. Russia commemorated 253 00:13:48,679 --> 00:13:52,160 Speaker 1: Victory Day with a military parade. Russia's Victory Day marks 254 00:13:52,200 --> 00:13:55,640 Speaker 1: the end of World War Two. President Vladimir Putin addressed 255 00:13:55,640 --> 00:13:59,520 Speaker 1: the parade in Red Square as Ukraine's military warns of 256 00:13:59,559 --> 00:14:03,000 Speaker 1: a high probability of missile strikes ahead of the expected 257 00:14:03,040 --> 00:14:06,320 Speaker 1: Senate vote this week on an abortion rights bill. Catholic 258 00:14:06,440 --> 00:14:10,840 Speaker 1: churches in cities across the country are increasing security. In baseball, 259 00:14:10,880 --> 00:14:13,199 Speaker 1: the Yankees split a double header with the Rangers. The 260 00:14:13,280 --> 00:14:15,839 Speaker 1: Mets split a double header with the Phillies. The Orioles 261 00:14:16,040 --> 00:14:18,880 Speaker 1: swept a double header against the Royals. The Red Sox, 262 00:14:18,960 --> 00:14:22,320 Speaker 1: Nationals and A's lost. The Giants won n NHL Playoffs. 263 00:14:22,360 --> 00:14:24,840 Speaker 1: The Bruins beat the Hurricanes that even the series at 264 00:14:24,840 --> 00:14:28,400 Speaker 1: two games. Apiece Global News twenty four hours a day 265 00:14:28,440 --> 00:14:31,320 Speaker 1: on air and on Bloomberg Quick Take, powered by more 266 00:14:31,360 --> 00:14:33,640 Speaker 1: than twenty seven hundred journalists, and that list for more 267 00:14:33,680 --> 00:14:36,200 Speaker 1: than a hundred twenty countries. I'm Michael Barr, and this 268 00:14:36,360 --> 00:14:39,400 Speaker 1: is Bloomberg. Nathan, Okay, Michael, thank you, at six nineteen 269 00:14:39,400 --> 00:14:42,360 Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios. 270 00:14:42,360 --> 00:14:45,320 Speaker 1: This is Bloomberg Daybreak, and let's talk more now about 271 00:14:45,400 --> 00:14:48,520 Speaker 1: this strengthening dollar, the greenbacks about the only thing in 272 00:14:48,640 --> 00:14:52,120 Speaker 1: the green this morning, as US stocks look poised for 273 00:14:52,200 --> 00:14:57,240 Speaker 1: a sixth straight week of losses. For more, We're joined 274 00:14:57,240 --> 00:15:01,040 Speaker 1: by Jane Foley, head of f X Strategy at Bravo Bank. Jane, 275 00:15:01,080 --> 00:15:03,440 Speaker 1: it's good to have you back with us this morning. 276 00:15:03,880 --> 00:15:07,360 Speaker 1: Is this a case of there is no alternative when 277 00:15:07,400 --> 00:15:11,000 Speaker 1: it comes to safety the US dollar. Yeah, you know what, 278 00:15:11,080 --> 00:15:12,640 Speaker 1: I think that's what it is. I mean, we could 279 00:15:12,640 --> 00:15:15,440 Speaker 1: talk about the FED, but certainly I think this is 280 00:15:15,440 --> 00:15:17,840 Speaker 1: part of a bigger picture. So we have an environment 281 00:15:17,880 --> 00:15:21,840 Speaker 1: here where China is slowing. Certainly, we have an environment 282 00:15:21,840 --> 00:15:25,440 Speaker 1: where there's lots of concerns about energy security in the Eurozone, 283 00:15:25,480 --> 00:15:28,960 Speaker 1: and certainly if the EU do go ahead and have 284 00:15:29,080 --> 00:15:32,440 Speaker 1: an oil embargo on Russia, that will not be without 285 00:15:32,440 --> 00:15:36,960 Speaker 1: paying for big industrialized economies such as Germany. And so 286 00:15:37,000 --> 00:15:39,600 Speaker 1: we are now talking about the possibility of of no 287 00:15:39,760 --> 00:15:42,400 Speaker 1: growth maybe next year in the Eurozone. Some people talking 288 00:15:42,400 --> 00:15:45,640 Speaker 1: about the possibility of a recession, and that is very 289 00:15:45,720 --> 00:15:49,200 Speaker 1: much linked to the energy story. So slower growth certainly 290 00:15:49,200 --> 00:15:52,440 Speaker 1: in Neurozone, slow growth now in in China, link with 291 00:15:52,440 --> 00:15:56,360 Speaker 1: the COVID stories. We have an environment where emerging markets 292 00:15:56,600 --> 00:16:01,360 Speaker 1: are looking pretty risky, perhaps unless they are big exporters 293 00:16:01,440 --> 00:16:06,440 Speaker 1: of energy. Certainly in emerging markets don't look too good. 294 00:16:06,480 --> 00:16:10,040 Speaker 1: And certainly when you have a backdrop of higher US 295 00:16:10,080 --> 00:16:13,200 Speaker 1: interest rates, well that's something which generally speaking will be 296 00:16:13,360 --> 00:16:16,440 Speaker 1: detrimental to quite a fair view of emerging markets. So 297 00:16:16,760 --> 00:16:19,040 Speaker 1: in that environment, what do you buy or you buy 298 00:16:19,040 --> 00:16:21,920 Speaker 1: safe haven. But the end right now is not really 299 00:16:21,960 --> 00:16:25,200 Speaker 1: a safe haven. It's it's current account position has really 300 00:16:25,240 --> 00:16:29,080 Speaker 1: been quashed by the higher commodity prices. And you've got 301 00:16:29,120 --> 00:16:32,440 Speaker 1: that intrastrate differential issue going on in Japan. Two. So 302 00:16:32,920 --> 00:16:36,600 Speaker 1: it is the dollar and in our view the factors 303 00:16:36,640 --> 00:16:39,080 Speaker 1: that are coming together right now. Do you suggest that 304 00:16:39,160 --> 00:16:43,240 Speaker 1: we could have a stronger, for longer US dollar? So 305 00:16:43,360 --> 00:16:45,360 Speaker 1: do you think that we could be headed to a 306 00:16:45,440 --> 00:16:48,600 Speaker 1: point where the euro reaches parody with the dollar? Is 307 00:16:49,040 --> 00:16:51,880 Speaker 1: that where we could be headed? Yeah? You know what, 308 00:16:51,960 --> 00:16:53,440 Speaker 1: how do you ask me that a couple of months ago, 309 00:16:53,520 --> 00:16:55,880 Speaker 1: I just said, you know, I hope not, because if 310 00:16:55,920 --> 00:16:59,560 Speaker 1: we see parity for the euro dollar, then it suggests 311 00:17:00,120 --> 00:17:03,440 Speaker 1: a combination of some nasty fundamentals for the Eurozone. But 312 00:17:03,560 --> 00:17:07,240 Speaker 1: that that combination of nasty fundamentals does seem a little 313 00:17:07,240 --> 00:17:09,600 Speaker 1: bit more realistic now. And again this comes back to 314 00:17:09,680 --> 00:17:13,119 Speaker 1: this energy security issue. A couple of months ago that 315 00:17:13,160 --> 00:17:15,480 Speaker 1: the market knew that this was a risk, but it 316 00:17:15,560 --> 00:17:18,639 Speaker 1: wasn't so focused on it. And and now it seems 317 00:17:18,960 --> 00:17:21,720 Speaker 1: there's a lot of pressure, of course on Germany to 318 00:17:21,720 --> 00:17:24,760 Speaker 1: to sign up for this embargo against Russian or we 319 00:17:24,800 --> 00:17:27,800 Speaker 1: all understand the reasons why. But nearly we know that 320 00:17:27,840 --> 00:17:32,359 Speaker 1: this will be very painful for Germany's large and industrialized economy, 321 00:17:32,400 --> 00:17:36,919 Speaker 1: and and that does mean lower growth possibility and therefore 322 00:17:36,880 --> 00:17:40,080 Speaker 1: a week of Europe potentially. If we do see a 323 00:17:40,119 --> 00:17:43,399 Speaker 1: stronger dollar for longer, what does that mean for the Fed? 324 00:17:43,800 --> 00:17:46,960 Speaker 1: Does that have an impact on financial conditions that could 325 00:17:47,040 --> 00:17:52,040 Speaker 1: affect the Fed's policy path going forward? Well, it fits 326 00:17:52,119 --> 00:17:54,560 Speaker 1: in quite nicely with the Fed's policy path. And now 327 00:17:54,560 --> 00:17:56,800 Speaker 1: if we go back a couple of years, when everybody 328 00:17:56,960 --> 00:17:59,920 Speaker 1: was in a weak inflationary backtop, we were then talk 329 00:18:00,160 --> 00:18:03,199 Speaker 1: about the the race to the bottom. Everybody wanted a 330 00:18:03,240 --> 00:18:05,320 Speaker 1: weak exchange rate, and that was the case when you 331 00:18:05,359 --> 00:18:07,720 Speaker 1: want when you have weak when you have soft inflation. 332 00:18:08,240 --> 00:18:10,560 Speaker 1: Now the coin has flipped when an environment where it 333 00:18:10,600 --> 00:18:12,920 Speaker 1: is a strong inflation and of course see the opposite 334 00:18:13,000 --> 00:18:16,960 Speaker 1: is true. A stronger currency will help you with your 335 00:18:17,400 --> 00:18:21,640 Speaker 1: imported prices. So if commodities or other imports go I comprice, 336 00:18:21,680 --> 00:18:24,600 Speaker 1: if you've got a strong currency, it helps negate some 337 00:18:24,760 --> 00:18:28,399 Speaker 1: of those price increases. And so now people want a 338 00:18:28,480 --> 00:18:32,280 Speaker 1: stronger currency. The higher interest rates of a course conducive 339 00:18:32,359 --> 00:18:37,359 Speaker 1: to a stronger currency. And again we have this interstructor 340 00:18:37,400 --> 00:18:40,879 Speaker 1: frencial pulling towards the dollar. At the same time, we 341 00:18:40,920 --> 00:18:45,440 Speaker 1: have higher interest rates pushing against economies that, for instance, 342 00:18:45,440 --> 00:18:49,080 Speaker 1: have emerging market economies that have a high level of 343 00:18:49,119 --> 00:18:52,560 Speaker 1: dollar denominated debts, and when emerging markets are out of favor, 344 00:18:52,960 --> 00:18:57,000 Speaker 1: we generally see that the dollar doing well about thirty seconds, Jane, 345 00:18:57,040 --> 00:19:00,840 Speaker 1: do you see a dollar strengthening as a recession risk indicator? 346 00:19:02,440 --> 00:19:04,919 Speaker 1: Quite possibly, and again it would be very concur in 347 00:19:04,920 --> 00:19:06,920 Speaker 1: the US. There is a possibility for a session in 348 00:19:06,960 --> 00:19:08,879 Speaker 1: the US in the second half of next year that 349 00:19:08,920 --> 00:19:12,320 Speaker 1: certainly we see that, but for now the safe haven 350 00:19:12,359 --> 00:19:17,120 Speaker 1: element of dollar demand could certainly outweigh that for the US. 351 00:19:17,480 --> 00:19:19,600 Speaker 1: Thank you as always, Jane, great having you back on 352 00:19:19,640 --> 00:19:23,600 Speaker 1: with us. Jane Foley, head of FX Strategy at Robbo Bank. 353 00:19:23,800 --> 00:19:27,159 Speaker 1: And just looking at the Bloomberg Dollar Spot Index on 354 00:19:27,240 --> 00:19:30,880 Speaker 1: this session, it is higher by four tenths of one percent. 355 00:19:31,400 --> 00:19:34,959 Speaker 1: Futures moving sharply lower now with SMP future is now 356 00:19:35,040 --> 00:19:38,280 Speaker 1: down sixty seven points, the decline of one point six percent. 357 00:19:38,400 --> 00:19:41,320 Speaker 1: Down futures down forty four that's a drop of one 358 00:19:41,359 --> 00:19:44,320 Speaker 1: point four percent, and NASTAC futures are lower by two percent, 359 00:19:44,400 --> 00:19:48,000 Speaker 1: now down two hundred fifty points, and the tenure Treasury 360 00:19:48,080 --> 00:19:51,080 Speaker 1: is down sixteen thirty seconds with a yield three point 361 00:19:51,160 --> 00:19:54,760 Speaker 1: one nine percent. Just ahead. More on the global stock 362 00:19:54,880 --> 00:19:58,600 Speaker 1: slide and Vladimir Putin justifies war in Ukraine on Russia's 363 00:19:58,720 --> 00:20:01,280 Speaker 1: victory day. Five things you need to notice start your day. 364 00:20:01,640 --> 00:20:08,240 Speaker 1: Coming up on Bloomberg day Break Bloomberg eleven three oh 365 00:20:08,280 --> 00:20:10,360 Speaker 1: weather partly the mostly sunny, breezy with a high near 366 00:20:10,400 --> 00:20:12,920 Speaker 1: sixty five today, sunshine in a breeze tomorrow with a 367 00:20:13,000 --> 00:20:15,960 Speaker 1: high near seventy. We'll keep it sunny with a high 368 00:20:15,960 --> 00:20:18,920 Speaker 1: near seventy on Wednesday. Right now forty seven in Central Park. 369 00:20:22,080 --> 00:20:26,640 Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York. 370 00:20:26,760 --> 00:20:31,400 Speaker 1: Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston, 371 00:20:31,520 --> 00:20:34,920 Speaker 1: Bloomberg one O six one does San Francisco, Bloomberg nine 372 00:20:35,000 --> 00:20:37,840 Speaker 1: sixty to the country, Sirius XM to the one nine 373 00:20:38,200 --> 00:20:41,359 Speaker 1: and around the globe the Bloomberg Business app in Bloomberg 374 00:20:41,440 --> 00:20:50,879 Speaker 1: Radio dot com. This is Bloomberg Daybreak six thirty on 375 00:20:50,880 --> 00:20:53,920 Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow. 376 00:20:54,000 --> 00:20:56,240 Speaker 1: We're just about three hours away from the open of 377 00:20:56,359 --> 00:20:58,639 Speaker 1: US trading time for the five things you need to 378 00:20:58,680 --> 00:21:03,000 Speaker 1: Notice start your day to you by Interactive Brokers. Interactive 379 00:21:03,040 --> 00:21:06,040 Speaker 1: Brokers charges margin loan rates from zero point eight three 380 00:21:06,080 --> 00:21:09,119 Speaker 1: percent to one point three percent rate centject to change. 381 00:21:09,200 --> 00:21:12,879 Speaker 1: Learn more at ib k R dot com slash compare First. 382 00:21:12,880 --> 00:21:15,200 Speaker 1: Stocks are down as the dollar trades at a two 383 00:21:15,280 --> 00:21:17,040 Speaker 1: year high to begin the week. The S and P 384 00:21:17,240 --> 00:21:20,280 Speaker 1: has dropped for five a straight weeks, and global stocks 385 00:21:20,359 --> 00:21:23,760 Speaker 1: continue their downward trend. It's all comes as rising interest 386 00:21:23,840 --> 00:21:27,480 Speaker 1: rates in China's COVID to lockdowns pressure markets. Katrina L, 387 00:21:27,600 --> 00:21:32,119 Speaker 1: senior economists with Moody's Analytics, says lockdowns are significantly impacting 388 00:21:32,119 --> 00:21:35,840 Speaker 1: exports from China and economies across the globe. It is 389 00:21:35,880 --> 00:21:40,240 Speaker 1: disrupting the pots, it is disrupting manufacturing it and more broadly, 390 00:21:40,280 --> 00:21:44,800 Speaker 1: it's really hurting China's economic recovery because consumers and businesses, 391 00:21:45,359 --> 00:21:48,160 Speaker 1: you know, a force basically back into hibernation, and that's 392 00:21:48,160 --> 00:21:51,040 Speaker 1: in stock contrast to the rest of the world. Moody's 393 00:21:51,040 --> 00:21:55,159 Speaker 1: Analytics senior economist Katrina L says economic prospects for China 394 00:21:55,200 --> 00:21:58,479 Speaker 1: are dim due to lockdowns. Quick programming out Karen will 395 00:21:58,520 --> 00:22:00,840 Speaker 1: speak live this morning with it n A FED President 396 00:22:00,920 --> 00:22:03,719 Speaker 1: Raphael Bostick about the economy. So please join us at 397 00:22:03,760 --> 00:22:05,960 Speaker 1: eight am all Street time for that on both Bloomberg 398 00:22:06,040 --> 00:22:08,560 Speaker 1: Radio and television. Well at turning to Russia now, Nathan, 399 00:22:08,560 --> 00:22:12,000 Speaker 1: where President Vladimir Putin is attempting to justify his invasion 400 00:22:12,040 --> 00:22:14,960 Speaker 1: of Ukraine. He spoke of the country's annual victory de 401 00:22:15,080 --> 00:22:20,879 Speaker 1: parade in Moscow. Native started capturing the territories of which 402 00:22:21,000 --> 00:22:25,199 Speaker 1: are so I'm a planned basis. There was a thrit 403 00:22:25,400 --> 00:22:29,399 Speaker 1: which was taken unacceptable to US. Russia. President Vladimir Putin 404 00:22:29,520 --> 00:22:33,440 Speaker 1: said the invasion is comparable to Russia's fight against Nazi Germany. 405 00:22:33,600 --> 00:22:35,879 Speaker 1: Back in the US, Karen, President Biden is about to 406 00:22:35,880 --> 00:22:38,240 Speaker 1: make high speed internet more widely available as part of 407 00:22:38,280 --> 00:22:40,719 Speaker 1: his infrastructure law the past last year. The President will 408 00:22:40,720 --> 00:22:44,119 Speaker 1: discuss the plan later today. And President Trump's Forward Defense 409 00:22:44,119 --> 00:22:48,320 Speaker 1: Secretary Mark Esper is revealing conversations that who had about 410 00:22:48,359 --> 00:22:53,200 Speaker 1: possible military action the US colintake in Mexico ASP, saying 411 00:22:53,240 --> 00:22:56,800 Speaker 1: President Trump wanted to launch missiles to attack drug cartels. 412 00:22:57,080 --> 00:22:59,880 Speaker 1: We would have this private discussion, right say Mr President, 413 00:23:00,119 --> 00:23:02,920 Speaker 1: You know I understand the motive because he was very 414 00:23:02,960 --> 00:23:05,320 Speaker 1: serious about dealing with drugs in America. I get that, 415 00:23:05,359 --> 00:23:07,879 Speaker 1: we we all understand, but I had explained to him, 416 00:23:07,920 --> 00:23:10,480 Speaker 1: we can't do that. It would violate their national law. 417 00:23:10,760 --> 00:23:14,240 Speaker 1: Former Defense Secretary Mark Esper tells CBS is sixty minutes 418 00:23:14,240 --> 00:23:17,240 Speaker 1: he persuaded President Trump and not to take those actions. 419 00:23:17,520 --> 00:23:20,359 Speaker 1: Trump has not commented on Esper's claim, and listeners in 420 00:23:20,400 --> 00:23:23,360 Speaker 1: the Washington area can hear sixty minutes every Sunday night 421 00:23:23,359 --> 00:23:27,359 Speaker 1: at ten on Bloomberg one. That's the five things that 422 00:23:27,400 --> 00:23:29,439 Speaker 1: you need to notice start your day, brought to you 423 00:23:29,520 --> 00:23:32,640 Speaker 1: by Interactive Brokers, straight to hand, your local headlines, plus 424 00:23:32,680 --> 00:23:39,399 Speaker 1: the check of sports. This is Bloomberg. Karen sixty three 425 00:23:39,440 --> 00:23:41,399 Speaker 1: on Wall Street, forty eight degrees in Central Park. I 426 00:23:41,480 --> 00:23:43,439 Speaker 1: have an accident on the southbound Harlem River Drive at 427 00:23:43,440 --> 00:23:46,120 Speaker 1: a hundred fifty five. Details coming up in traffic. First 428 00:23:46,160 --> 00:23:47,959 Speaker 1: Michael Barr with more on what's going on in New 429 00:23:48,040 --> 00:23:50,600 Speaker 1: York and around the world. Michael, thank you very much. Nathan. 430 00:23:50,600 --> 00:23:54,040 Speaker 1: New York Governor Kathy hockle Let's tested positive for COVID nineteen. 431 00:23:54,480 --> 00:23:57,480 Speaker 1: The governor made the announcement in its week yesterday afternoon. 432 00:23:57,800 --> 00:24:01,119 Speaker 1: Governor Hokel says she is vaccinated and boosted against the 433 00:24:01,200 --> 00:24:04,680 Speaker 1: virus and is feeling a symptomatic due to the positive 434 00:24:04,720 --> 00:24:08,119 Speaker 1: test results. You will isolate and work remotely. This week. 435 00:24:08,440 --> 00:24:12,679 Speaker 1: A new CBS News poll shows a majority six of 436 00:24:12,680 --> 00:24:15,760 Speaker 1: those survey do not want the Supreme Court to overturn 437 00:24:15,880 --> 00:24:18,560 Speaker 1: Roe v. Wade. It comes in the wake of elite 438 00:24:18,680 --> 00:24:22,600 Speaker 1: draft opinion from the High Courts majority calling for reversing Row. 439 00:24:23,080 --> 00:24:25,760 Speaker 1: Democrats are now working to force a vote to comify 440 00:24:25,800 --> 00:24:30,040 Speaker 1: abortion rights for women nationwide next week, but experts believe 441 00:24:30,119 --> 00:24:32,919 Speaker 1: that vote will likely be blocked and the Court's ruling 442 00:24:32,920 --> 00:24:36,040 Speaker 1: will stand. Senator Geority Leader Chuck Schumer of New York 443 00:24:36,080 --> 00:24:38,880 Speaker 1: says every Senator will have to go on record and 444 00:24:39,000 --> 00:24:42,919 Speaker 1: vow to keep fighting not on our watch. Will you 445 00:24:43,000 --> 00:24:45,920 Speaker 1: take away women's rights? Will you take away the right 446 00:24:46,000 --> 00:24:49,800 Speaker 1: to choose? Will you dismantle women's rights after fifty years 447 00:24:49,920 --> 00:24:54,160 Speaker 1: fifty years of president? Senator Schumer says if Republicans vote 448 00:24:54,160 --> 00:24:58,000 Speaker 1: the bill down, it will backfire. In Arkansas, Governor Asa 449 00:24:58,080 --> 00:25:01,120 Speaker 1: Hutchinson signed a bill last year the prohibits abortion in 450 00:25:01,200 --> 00:25:04,160 Speaker 1: all cases except to save the life of the mother. 451 00:25:04,560 --> 00:25:07,640 Speaker 1: Hutchinson says he doesn't agree with some of his GOP 452 00:25:07,840 --> 00:25:11,399 Speaker 1: colleagues calling for a nationwide abortion ban, and states are 453 00:25:11,400 --> 00:25:14,480 Speaker 1: gonna make different determinations of it. But the people are 454 00:25:14,520 --> 00:25:18,720 Speaker 1: going to express to their representative exactly the direction they 455 00:25:18,720 --> 00:25:21,879 Speaker 1: want to go, and to me, that makes sense, and 456 00:25:21,920 --> 00:25:24,920 Speaker 1: I think it makes sense under our constitution. Governor Hutchinson 457 00:25:24,960 --> 00:25:27,840 Speaker 1: made his comments on ABC's This Week, which can be 458 00:25:27,920 --> 00:25:32,919 Speaker 1: heard Sundays on Bloomberg. Italy's Capitalist Banned outdoor picnics. A 459 00:25:32,960 --> 00:25:35,679 Speaker 1: woman in a Rome park recently tried to scare off 460 00:25:35,720 --> 00:25:38,520 Speaker 1: a wild board that was charging your dog. Another woman 461 00:25:38,640 --> 00:25:41,520 Speaker 1: was recently knocked over by one while throwing a garbage 462 00:25:41,520 --> 00:25:44,600 Speaker 1: in the street bin. There are about twenty three thousand 463 00:25:44,600 --> 00:25:47,960 Speaker 1: wild boards that live in and around Rome, often seen 464 00:25:48,040 --> 00:25:51,480 Speaker 1: munching on garbage and overflowing street bins. We've got our 465 00:25:51,520 --> 00:25:54,800 Speaker 1: own problems here in New York City, rats eating garbage 466 00:25:54,840 --> 00:25:58,119 Speaker 1: in the streets. According to the city, the rat population 467 00:25:58,200 --> 00:26:01,359 Speaker 1: has hit a decade high. Global news twenty four hours 468 00:26:01,359 --> 00:26:04,720 Speaker 1: a day on air and on Bloomberg Quittake, powered by 469 00:26:04,760 --> 00:26:07,879 Speaker 1: more than seven hundred journalists, analysts, and more than a 470 00:26:07,960 --> 00:26:10,960 Speaker 1: hundred twenty countries. I'm Michael bar this is Bloomberg Nathan, 471 00:26:11,160 --> 00:26:19,159 Speaker 1: Something's never changed. Thank you, Michael on Wall Street. Time 472 00:26:19,200 --> 00:26:21,679 Speaker 1: for the Bloomberg Sports something with John Sesshawer. Thanks nay Fan. 473 00:26:21,800 --> 00:26:24,240 Speaker 1: Yankees and Mets both right now twice finally took the 474 00:26:24,240 --> 00:26:27,040 Speaker 1: field with double headers. The Yanks first game since last Wednesday. 475 00:26:27,080 --> 00:26:28,760 Speaker 1: They beat the Rangers two to one on the Labor 476 00:26:28,800 --> 00:26:30,520 Speaker 1: Touria's home run leading off the bottom of nine then 477 00:26:30,640 --> 00:26:33,199 Speaker 1: and that made it twelve wins in thirteen games. They 478 00:26:33,240 --> 00:26:35,280 Speaker 1: had a two nothing lead in the nightcap, but Texas 479 00:26:35,359 --> 00:26:37,280 Speaker 1: came back to win four to two, and the two 480 00:26:37,280 --> 00:26:39,080 Speaker 1: teams will finish the series with a makeup game this 481 00:26:39,160 --> 00:26:41,639 Speaker 1: afternoon at the Stadium. The Mets with a pair in Philadelphia. 482 00:26:41,680 --> 00:26:43,720 Speaker 1: They lost three to two, but then one six to one, 483 00:26:44,080 --> 00:26:46,880 Speaker 1: with Petter Alonso doing the damage to run Homer then 484 00:26:46,880 --> 00:26:49,000 Speaker 1: a three run shot, so the Mets win the series. 485 00:26:49,040 --> 00:26:51,760 Speaker 1: They have yet to lose the series this season. In 486 00:26:51,800 --> 00:26:55,160 Speaker 1: Seattle's win over Tampa Bay, George Kirby started for the Mariners. 487 00:26:55,160 --> 00:26:57,920 Speaker 1: He's a top prospect. In his big league debut six 488 00:26:57,920 --> 00:27:01,800 Speaker 1: scoreless innings. Kirby grew up in Westchester. NBA playoffs Dallas 489 00:27:01,800 --> 00:27:04,840 Speaker 1: beat Phoenix and Philadelphia beat Miami, so both series are 490 00:27:04,840 --> 00:27:07,800 Speaker 1: tied at two, with the home team winning every game, 491 00:27:07,840 --> 00:27:11,080 Speaker 1: and the home teams also won in the NHL Boston, Tampa, 492 00:27:11,080 --> 00:27:13,880 Speaker 1: Bay St. Louis, and Los Angeles. All four of those 493 00:27:13,920 --> 00:27:16,920 Speaker 1: first round series are tied at two, and the Rangers 494 00:27:16,920 --> 00:27:19,359 Speaker 1: are hoping to be too too with the Penguins. After 495 00:27:19,359 --> 00:27:22,439 Speaker 1: tonight's Game four in Pittsburgh, Igor sister Kin, we'll be 496 00:27:22,480 --> 00:27:25,080 Speaker 1: back in the Ranger goal after coach Gerard Galad pulled 497 00:27:25,200 --> 00:27:30,560 Speaker 1: him after a shaky first period Saturday, expecting to be expanding. 498 00:27:30,920 --> 00:27:33,240 Speaker 1: You know, he's you know, it's a it's a one 499 00:27:33,280 --> 00:27:35,920 Speaker 1: off for me that that stuff happens like that. And again, 500 00:27:36,560 --> 00:27:38,840 Speaker 1: nobody's blaming him, you know when I mean other team. 501 00:27:38,880 --> 00:27:40,920 Speaker 1: We've dominated the borg period, like we said last night, 502 00:27:40,960 --> 00:27:43,360 Speaker 1: so it's nothing on ego. It was two lucky goal 503 00:27:43,400 --> 00:27:45,600 Speaker 1: of the first two when the way we go to 504 00:27:45,600 --> 00:27:48,000 Speaker 1: the Rangers two losses in the series. They have not 505 00:27:48,119 --> 00:27:50,800 Speaker 1: scored a goal after the second period. That includes the 506 00:27:50,840 --> 00:27:54,200 Speaker 1: three overtime periods they played in Game one. John Stashward 507 00:27:54,200 --> 00:27:57,639 Speaker 1: Bloomberg Sports Steven all right, John, thank you sixty seven 508 00:27:57,720 --> 00:27:59,679 Speaker 1: on Wall Street. Time now to take a look at 509 00:27:59,720 --> 00:28:02,240 Speaker 1: st some of the names moving in the pre market. 510 00:28:02,320 --> 00:28:05,000 Speaker 1: Though maybe a little tough to look under the hood 511 00:28:05,160 --> 00:28:07,960 Speaker 1: this morning. We're gonna do it, though. Bloomberg Radio TV 512 00:28:08,080 --> 00:28:11,320 Speaker 1: Markets correspondent Credy Gufta is with us. Someone looks like 513 00:28:11,359 --> 00:28:15,639 Speaker 1: another down day, cred I'm up for the challenge, Nathan. 514 00:28:16,920 --> 00:28:18,680 Speaker 1: But you know what, I think you're a percent right. 515 00:28:18,680 --> 00:28:21,040 Speaker 1: This is I mean, this is a macro story. This 516 00:28:21,080 --> 00:28:23,399 Speaker 1: is also even a sector story. When you look at 517 00:28:23,400 --> 00:28:25,240 Speaker 1: the stock market right now, a lot of pain in 518 00:28:25,240 --> 00:28:27,679 Speaker 1: those tech stocks. Remember it's the tech stocks that have 519 00:28:27,880 --> 00:28:30,879 Speaker 1: led the SMP record highs that are getting hit the hardest. 520 00:28:30,920 --> 00:28:33,320 Speaker 1: For example, a A p L's ear ticker for Apple 521 00:28:33,720 --> 00:28:36,280 Speaker 1: down two point two percent this morning, and the volume 522 00:28:36,359 --> 00:28:38,800 Speaker 1: just extremely heavy in Apple shares. And now, of course 523 00:28:38,840 --> 00:28:41,000 Speaker 1: some of that simply is because it's a heavyweight. But 524 00:28:41,160 --> 00:28:43,800 Speaker 1: keep in mind the research suggesting that any time you 525 00:28:43,880 --> 00:28:46,320 Speaker 1: have a Friday sell off that was as bad as 526 00:28:46,320 --> 00:28:47,960 Speaker 1: we saw it, and of course Thursday as well that 527 00:28:48,000 --> 00:28:51,720 Speaker 1: proceeded at the biggest drop going back to September, the 528 00:28:51,800 --> 00:28:54,280 Speaker 1: Monday that follows tends to be pretty brutal as well, 529 00:28:54,320 --> 00:28:56,360 Speaker 1: and today is really no exception. You are seeing that 530 00:28:56,400 --> 00:28:58,920 Speaker 1: pain right off the bat. Something else to keep in 531 00:28:58,960 --> 00:29:01,600 Speaker 1: mind is micros. For example, M s f T is 532 00:29:01,640 --> 00:29:03,280 Speaker 1: another ticker that you want to keep your eye on, 533 00:29:03,320 --> 00:29:05,520 Speaker 1: down two point three percent. If you don't have Apple 534 00:29:05,560 --> 00:29:07,800 Speaker 1: and Microsoft on your side, the S and P five 535 00:29:07,840 --> 00:29:11,000 Speaker 1: hundred unlikely to rally, at least in the short terms. 536 00:29:11,080 --> 00:29:13,320 Speaker 1: That's got something to keep your eye on. Let's talk 537 00:29:13,320 --> 00:29:15,800 Speaker 1: about energy stocks though, because as we talk about growth 538 00:29:15,800 --> 00:29:19,440 Speaker 1: and inflation, the theory is the energy stocks would actually 539 00:29:19,520 --> 00:29:22,640 Speaker 1: do much much better because the higher prices would end 540 00:29:22,720 --> 00:29:25,160 Speaker 1: up feeding into their bottom line and not being said, 541 00:29:25,160 --> 00:29:28,600 Speaker 1: even though we have seen higher commodity prices, although today 542 00:29:28,640 --> 00:29:30,320 Speaker 1: you do see a little bit of pain, and Crewed 543 00:29:30,480 --> 00:29:34,040 Speaker 1: still over a hundred dollar oil is nothing to scoff at. 544 00:29:34,080 --> 00:29:36,200 Speaker 1: You are seeing a little bit more pain than we've 545 00:29:36,240 --> 00:29:38,600 Speaker 1: seen in the oil names this morning. So for example, 546 00:29:38,640 --> 00:29:41,280 Speaker 1: Occidental o x Y is your ticker down two point 547 00:29:41,280 --> 00:29:44,000 Speaker 1: three percent. Slumberge as well, down two point four percent. 548 00:29:44,320 --> 00:29:46,280 Speaker 1: What's interesting is that the ones that are performing the 549 00:29:46,320 --> 00:29:48,880 Speaker 1: worst this morning, Nathan, are the ones to have more 550 00:29:48,920 --> 00:29:51,280 Speaker 1: American exposure. That used to be a good thing, that 551 00:29:51,440 --> 00:29:54,200 Speaker 1: used to be a defensive hedge idea of the idea 552 00:29:54,280 --> 00:29:58,840 Speaker 1: that less of less supply from Russia would be needed. 553 00:29:58,840 --> 00:30:01,200 Speaker 1: Therefore Americans could kind of make up the gap. But 554 00:30:01,280 --> 00:30:04,520 Speaker 1: as we see this hesitation to hop back into the market, 555 00:30:04,640 --> 00:30:07,400 Speaker 1: these names that were the hedge not really serving that 556 00:30:07,440 --> 00:30:10,520 Speaker 1: purpose anymore. Well, it looks like investors, at least as 557 00:30:10,520 --> 00:30:12,560 Speaker 1: a whole, or running for the exits. Is there anything 558 00:30:12,560 --> 00:30:14,760 Speaker 1: in the green this morning? There is. You have to 559 00:30:14,760 --> 00:30:17,320 Speaker 1: look very closely, but there is, and there's even a 560 00:30:17,400 --> 00:30:19,720 Speaker 1: theme to it, a little bit of a bonus. Tyson T. 561 00:30:20,120 --> 00:30:22,520 Speaker 1: S n As your taker is reporting earnings after the bell. 562 00:30:22,560 --> 00:30:25,080 Speaker 1: Of course we know this as the meat company, um. 563 00:30:25,160 --> 00:30:26,960 Speaker 1: But we also have to keep in mind that food 564 00:30:27,000 --> 00:30:29,960 Speaker 1: inflation is very much a concept. If you're seeing a 565 00:30:29,960 --> 00:30:32,760 Speaker 1: little bit of down pressure and commodities broadly, food prices 566 00:30:32,840 --> 00:30:36,200 Speaker 1: remain at record highs, record in history. How much of 567 00:30:36,200 --> 00:30:38,640 Speaker 1: that feeds into some of these food names. So Tyson T. 568 00:30:38,880 --> 00:30:41,200 Speaker 1: S n Up one point three percent, like I said, 569 00:30:41,240 --> 00:30:43,400 Speaker 1: ahead of earnings after the bell, General Mills is another 570 00:30:43,440 --> 00:30:45,720 Speaker 1: one g I s as your taker of four tenths 571 00:30:45,720 --> 00:30:47,760 Speaker 1: of one percent. And you're also seeing Kellogg just the 572 00:30:47,840 --> 00:30:50,320 Speaker 1: letter k about Flatten the session. That's a big deal 573 00:30:50,400 --> 00:30:53,360 Speaker 1: given that everything else is dropping. Nathan, Yeah, certainly seeing 574 00:30:53,400 --> 00:30:56,400 Speaker 1: that a Bloomberg Gradi and TV Markets correspondent Creed Gupta 575 00:30:56,440 --> 00:30:59,959 Speaker 1: with us this morning, as futures add to their declines. Right, 576 00:31:00,080 --> 00:31:02,680 Speaker 1: USMP futures are down seventy nine points, that's a drop 577 00:31:02,720 --> 00:31:05,480 Speaker 1: of one point nine percent. Now DAL Future is lower 578 00:31:05,560 --> 00:31:10,240 Speaker 1: by five five points. Nasdaq futures down two point four percent, 579 00:31:10,360 --> 00:31:13,960 Speaker 1: a decline of three hundred three points. Tenure Treasury down 580 00:31:14,000 --> 00:31:17,480 Speaker 1: fourteen thirty seconds, yield three point one eight percent. This 581 00:31:18,120 --> 00:31:24,920 Speaker 1: is Bloomberg, Bloomberg eleven three oh weather temperatures are going up, 582 00:31:24,920 --> 00:31:26,960 Speaker 1: will be in the mid sixties today with sunshine and 583 00:31:27,000 --> 00:31:31,840 Speaker 1: debreez seventy four highs tomorrow and Wednesday. Right now in 584 00:31:31,880 --> 00:31:40,280 Speaker 1: Central Park markets, headlines and breaking news twenty four hours 585 00:31:40,280 --> 00:31:43,280 Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business app 586 00:31:43,400 --> 00:31:53,080 Speaker 1: and at Bloomberg Quicktake. He's a Bloomberg Business lash and 587 00:31:53,120 --> 00:31:55,600 Speaker 1: I'm car in Moscow. Future is following this morning, we 588 00:31:55,680 --> 00:31:58,280 Speaker 1: got the first word breaking news desk for today's morning call. 589 00:31:58,360 --> 00:32:01,640 Speaker 1: And here's Bill Maloney. Bill, good morning, Hey, good morning, Karen. 590 00:32:01,680 --> 00:32:04,400 Speaker 1: That's right. US features are plunging right now, trading on 591 00:32:04,400 --> 00:32:06,880 Speaker 1: the pre market lows of doubt futures down five hundred 592 00:32:06,920 --> 00:32:09,120 Speaker 1: and fifty seven points says to be dropped eighty three. 593 00:32:09,280 --> 00:32:13,160 Speaker 1: Nasdek futures are lower by three seventeen. The US ten 594 00:32:13,200 --> 00:32:15,720 Speaker 1: year old now at three point when a percent. Gold 595 00:32:15,800 --> 00:32:18,680 Speaker 1: is down twenty four, oil isn't red, and bitcoin is 596 00:32:18,720 --> 00:32:21,840 Speaker 1: down by three percent. Japan dropped to a half percent overnight, 597 00:32:21,840 --> 00:32:24,640 Speaker 1: while up markets are also under pressure and back in 598 00:32:24,680 --> 00:32:27,200 Speaker 1: the US on the economic front. At ten o'clock, sale 599 00:32:27,240 --> 00:32:30,360 Speaker 1: inventories regarding some of the earnings this morning, look for 600 00:32:30,360 --> 00:32:32,880 Speaker 1: a pounds here. Duke Energy and Tyson to report in 601 00:32:32,920 --> 00:32:35,840 Speaker 1: the pre market and other news. Third Point expanded its 602 00:32:35,880 --> 00:32:39,000 Speaker 1: steak in shell rapid Things up. Dish was cut to 603 00:32:39,080 --> 00:32:42,360 Speaker 1: neutral over at JP. Morgan Live from the first breaking 604 00:32:42,400 --> 00:32:44,720 Speaker 1: news scam. Bill Maloney, Karen, all right, Bill, thank you 605 00:32:44,760 --> 00:32:47,400 Speaker 1: to hear live breaking news over here. Bloomberg types squawk 606 00:32:47,480 --> 00:32:50,120 Speaker 1: on your terminal squ a w K and that's a 607 00:32:50,160 --> 00:32:52,960 Speaker 1: Bloomberg business flash. Now here's Michael bar with more on 608 00:32:53,080 --> 00:32:55,600 Speaker 1: what's going on around the world. Mchael, Karen, thank you 609 00:32:55,720 --> 00:32:58,640 Speaker 1: very much. Russian forces pushed forward and they're assault on 610 00:32:58,840 --> 00:33:02,280 Speaker 1: Ukraine seeking the cap. You're the crucial southern port city 611 00:33:02,280 --> 00:33:06,680 Speaker 1: of Mariupol As Moscow's celebrated its Victory Day holiday. Russian 612 00:33:06,720 --> 00:33:09,720 Speaker 1: troops pumble a steel mill where an estimated two thousand 613 00:33:09,760 --> 00:33:14,400 Speaker 1: Ukrainian fighters are still making their last stand. Speaking today, 614 00:33:14,400 --> 00:33:18,320 Speaker 1: and the military parade marking the holiday, Russian President Vladimir 615 00:33:18,320 --> 00:33:22,000 Speaker 1: Putin sought to justify his invasion. In baseball, the Yankees 616 00:33:22,000 --> 00:33:24,440 Speaker 1: split a double header with Rangers. The Mets split a 617 00:33:24,480 --> 00:33:27,560 Speaker 1: double header with the Phillies. The Orioles won a double 618 00:33:27,560 --> 00:33:30,800 Speaker 1: header against the Royals. The Red Sox, Nationals and A's lost. 619 00:33:30,840 --> 00:33:33,800 Speaker 1: The Giants won. In the NHL playoffs, the Bruins beat 620 00:33:33,800 --> 00:33:36,440 Speaker 1: the Hurricanes to even the series at two games. Apiece 621 00:33:36,880 --> 00:33:39,400 Speaker 1: Global News twenty four hours a day on air and 622 00:33:39,600 --> 00:33:43,280 Speaker 1: on Bloomberg Quicktake, powered by more than seven hundred journalists 623 00:33:43,280 --> 00:33:45,760 Speaker 1: and analysts in more than a hundred twenty countries. I'm 624 00:33:45,760 --> 00:33:49,440 Speaker 1: Michael Barr. This is Bloomberg. The following commentary is from 625 00:33:49,480 --> 00:33:55,520 Speaker 1: Bloomberg Opinion. California versus Florida a COVID reckoning. I'm Justin Fox, 626 00:33:55,560 --> 00:33:59,120 Speaker 1: a columnist for Bloomberg Opinion. California and Florida are widely 627 00:33:59,160 --> 00:34:03,479 Speaker 1: seen as represents opposite polls of COVID nineteen policy with reason. 628 00:34:04,040 --> 00:34:07,880 Speaker 1: Both states shut down similarly in spring, and both had 629 00:34:07,960 --> 00:34:11,680 Speaker 1: similar success last year in vaccinating elderly residents, but on 630 00:34:11,800 --> 00:34:16,040 Speaker 1: in person schooling, indoor dying, mask mandates, and other policies. 631 00:34:16,120 --> 00:34:19,040 Speaker 1: They followed different courses from much of the pandemic, with 632 00:34:19,120 --> 00:34:23,239 Speaker 1: California tending towards strictness and Florida not. How have they 633 00:34:23,280 --> 00:34:27,319 Speaker 1: fared in saving lives? Adjusted for population, Florida has had 634 00:34:27,360 --> 00:34:31,360 Speaker 1: thirty four percent more COVID deaths than California, but old 635 00:34:31,360 --> 00:34:33,840 Speaker 1: people are at the highest risk from the disease and 636 00:34:33,960 --> 00:34:38,520 Speaker 1: Florida has lots. Adjust for age, and Florida's COVID mortality 637 00:34:38,600 --> 00:34:41,879 Speaker 1: rate is only three percent higher. Those seventy and up 638 00:34:41,880 --> 00:34:45,480 Speaker 1: actually fared slightly better there. Mortality among the young has 639 00:34:45,520 --> 00:34:48,600 Speaker 1: been much higher in Florida than California, but the absolute 640 00:34:48,680 --> 00:34:52,400 Speaker 1: numbers are quite low. I'm justin Fox. For more opinion, 641 00:34:52,760 --> 00:34:55,480 Speaker 1: please go to Bloomberg dot Com Slash Opinion, r O 642 00:34:55,600 --> 00:34:59,319 Speaker 1: p ion go on. The Bloomberg terminal has been Bloomberg 643 00:34:59,360 --> 00:35:03,200 Speaker 1: Opinion and Bloomberg Opinion commentaries can be heard every weekday 644 00:35:03,200 --> 00:35:05,839 Speaker 1: at this time, and terminal customers can read more at 645 00:35:05,840 --> 00:35:08,640 Speaker 1: O p I n go. It is six fifty on 646 00:35:08,680 --> 00:35:11,520 Speaker 1: Wall Street. Returned to news and science and Technology now 647 00:35:11,520 --> 00:35:14,160 Speaker 1: with a Bloomberg and j I T STEM report brought 648 00:35:14,160 --> 00:35:17,160 Speaker 1: to you by New Jersey Institute of Technology, ranked a 649 00:35:17,200 --> 00:35:20,920 Speaker 1: top fifty national public university by US News and World Report, 650 00:35:21,239 --> 00:35:23,919 Speaker 1: and j I T is future in the making. Learn 651 00:35:24,000 --> 00:35:26,480 Speaker 1: more at n j I T dot E du you 652 00:35:26,480 --> 00:35:29,919 Speaker 1: now Here's this making News and science, Technology, engineering, and math. 653 00:35:30,360 --> 00:35:35,040 Speaker 1: Shanghai strict COVID curves are disrupting healthcare services halfway across 654 00:35:35,080 --> 00:35:38,440 Speaker 1: the world, with hospitals in New York suffering a shortage 655 00:35:38,440 --> 00:35:41,480 Speaker 1: of chemicals used in imaging tests. The Greater New York 656 00:35:41,520 --> 00:35:46,200 Speaker 1: Hospital Association set healthcare facilities have seen shortages of an 657 00:35:46,200 --> 00:35:50,160 Speaker 1: IO donated contrast medium that's produced at a GE healthcare 658 00:35:50,200 --> 00:35:53,320 Speaker 1: facility in Shanghai. The chemical agent is widely used in 659 00:35:53,560 --> 00:35:57,560 Speaker 1: X rays, radiography, and CT scans. Twenty u S Internet 660 00:35:57,560 --> 00:36:00,600 Speaker 1: providers will offer high speed connections at essential no cost 661 00:36:00,680 --> 00:36:03,200 Speaker 1: to millions of low income households. It's part of a 662 00:36:03,280 --> 00:36:06,600 Speaker 1: program funded by the Infrastructure law passed last year. A 663 00:36:06,760 --> 00:36:09,560 Speaker 1: T and T, Comcast, and Verizon or among the companies 664 00:36:09,560 --> 00:36:12,960 Speaker 1: taking part, and Microsoft has an initial one point three 665 00:36:13,000 --> 00:36:15,560 Speaker 1: billion dollars at stake in a test beginning later this 666 00:36:15,680 --> 00:36:20,520 Speaker 1: month on whether it's hallow lens augmented reality Google Goggles 667 00:36:20,560 --> 00:36:23,680 Speaker 1: can be turned into an effective combat system for the U. S. Army. 668 00:36:24,040 --> 00:36:26,680 Speaker 1: The month long test will be evaluated by the Pentagon's 669 00:36:26,760 --> 00:36:29,719 Speaker 1: Testing Office to determine whether the headset is ready for 670 00:36:29,880 --> 00:36:34,240 Speaker 1: full production and initial deployment. The Integrated Visual Augmentation System 671 00:36:34,280 --> 00:36:37,839 Speaker 1: would let commanders project information onto a visor in front 672 00:36:37,840 --> 00:36:40,440 Speaker 1: of a soldier's face and and include features such as 673 00:36:40,560 --> 00:36:43,800 Speaker 1: night vision. That's a Bloomberg n j I t STEM report. 674 00:36:43,920 --> 00:36:46,080 Speaker 1: Nathan all right, Karen, thank you. We're live from the 675 00:36:46,080 --> 00:36:49,120 Speaker 1: Bloomberg Interactive Brokers studios where it's six fifty two on 676 00:36:49,239 --> 00:36:51,120 Speaker 1: Wall Street Time now to check what's going on in 677 00:36:51,239 --> 00:36:53,520 Speaker 1: d C. Some of the top stories in our nation's 678 00:36:53,560 --> 00:36:56,920 Speaker 1: capital include the US adding even further sanctions on Russia 679 00:36:56,960 --> 00:37:00,640 Speaker 1: as President Vladimir Putin Mark's victory day in Mosque. On 680 00:37:00,719 --> 00:37:04,160 Speaker 1: Capitol Hill, how Speaker Nancy Pelosi says there is urgency 681 00:37:04,239 --> 00:37:07,320 Speaker 1: for Congress to pass the next thirty three billion dollars 682 00:37:07,360 --> 00:37:11,200 Speaker 1: in Ukraine aid this month. We have a recognition of 683 00:37:11,280 --> 00:37:14,680 Speaker 1: the need for weapons for sanctions, more weapons, more sanctions, 684 00:37:15,000 --> 00:37:19,440 Speaker 1: more economic assistance, and more humanitarian Assistant Speaker Pelosi was 685 00:37:19,480 --> 00:37:22,960 Speaker 1: on CBS's Face the Nation. Also making news a revived 686 00:37:23,000 --> 00:37:27,000 Speaker 1: debate over abortion rights six months before the midterms. Democratic 687 00:37:27,040 --> 00:37:30,240 Speaker 1: Senator Amy Klobscher was on ABC's This Week. The question 688 00:37:30,239 --> 00:37:33,680 Speaker 1: that voters are going to be asking when seventy people 689 00:37:33,680 --> 00:37:36,320 Speaker 1: are with us on this is who should make this decision. 690 00:37:36,600 --> 00:37:39,759 Speaker 1: Should it be a woman and her doctor or a politician. 691 00:37:40,000 --> 00:37:43,120 Speaker 1: Should it be Ted Cruz making this decision? Or a 692 00:37:43,160 --> 00:37:46,319 Speaker 1: woman and her family. While some pro life Republicans look 693 00:37:46,360 --> 00:37:49,360 Speaker 1: ahead to the next phase of their movement, Mississippi Governor 694 00:37:49,400 --> 00:37:52,239 Speaker 1: Tate Reeves was on NBC's Meet the Press. What we're 695 00:37:52,239 --> 00:37:55,120 Speaker 1: trying to do is stand up for the rights of 696 00:37:55,160 --> 00:37:59,440 Speaker 1: those unborn children, stand up for those who absolutely cannot 697 00:37:59,520 --> 00:38:03,399 Speaker 1: stand up for themselves. That's why this this decision is 698 00:38:03,400 --> 00:38:06,280 Speaker 1: is so important. Meet the Press this Week and Face 699 00:38:06,320 --> 00:38:08,440 Speaker 1: the Nation can be heard every Sunday right here on 700 00:38:08,440 --> 00:38:12,759 Speaker 1: Bloomberg Radio. Bloomberg Government reporter Emily Wilkins is joining us 701 00:38:12,800 --> 00:38:16,279 Speaker 1: now from the nation's capital. Let's start off with what's 702 00:38:16,320 --> 00:38:18,840 Speaker 1: happening in the war in Ukraine. Emily, I know the 703 00:38:19,200 --> 00:38:21,960 Speaker 1: White House had been watching very closely for what the 704 00:38:22,000 --> 00:38:26,240 Speaker 1: President Putin would say at the Victory Day parade in Moscow. Today, 705 00:38:27,080 --> 00:38:29,360 Speaker 1: while we wait for that response, what stood out to 706 00:38:29,400 --> 00:38:32,919 Speaker 1: you from what the Russian president had to say, Well, 707 00:38:32,960 --> 00:38:35,720 Speaker 1: I think it's more of what the Russian president didn't say. 708 00:38:35,840 --> 00:38:38,440 Speaker 1: You know. One of the things that some Western officials 709 00:38:38,520 --> 00:38:41,800 Speaker 1: thought might happen is that Klutin might actually declare the 710 00:38:41,840 --> 00:38:45,000 Speaker 1: evasion into Ukraine a war. Now right now, he's just 711 00:38:45,040 --> 00:38:48,480 Speaker 1: called it a special military offer operation. But calling the 712 00:38:48,560 --> 00:38:51,960 Speaker 1: war would really help Russia with a mass mobilization to 713 00:38:52,040 --> 00:38:56,040 Speaker 1: assist troops already in Ukraine. It would also force Russians 714 00:38:56,080 --> 00:38:58,440 Speaker 1: to face the reality of the conflict. I mean, I 715 00:38:58,480 --> 00:39:02,000 Speaker 1: think here in the US, elsewhere in the world, everyone 716 00:39:02,120 --> 00:39:05,919 Speaker 1: is absolutely calling this invasion from Russia into Ukraine a war. 717 00:39:06,440 --> 00:39:09,399 Speaker 1: And it's been interesting to see how Russia has really 718 00:39:09,440 --> 00:39:13,040 Speaker 1: controlled that that message among its own people. But we 719 00:39:13,040 --> 00:39:15,800 Speaker 1: didn't hear that today. What we did here was putin 720 00:39:15,920 --> 00:39:20,040 Speaker 1: compare the current fighting in Ukraine to the Soviet Union 721 00:39:20,080 --> 00:39:24,040 Speaker 1: fighting Nazis in nineteen You did also see that the 722 00:39:24,080 --> 00:39:27,360 Speaker 1: annual event, that annual parade, but it was a little smaller. 723 00:39:27,400 --> 00:39:29,359 Speaker 1: This year. I mean in part because you know, they 724 00:39:29,400 --> 00:39:33,120 Speaker 1: have so many military operations now deployed in Ukraine. A 725 00:39:33,160 --> 00:39:36,120 Speaker 1: planned fly over of military jets and helicopters was also 726 00:39:36,239 --> 00:39:39,800 Speaker 1: canceled today. State media said that was due to cloudy weather. 727 00:39:40,160 --> 00:39:42,400 Speaker 1: And you have to wonder Emily as well, whether this 728 00:39:42,920 --> 00:39:45,880 Speaker 1: smaller show of force in Moscow is a sign that 729 00:39:46,080 --> 00:39:50,040 Speaker 1: sanctions are starting to have a bite on Russia. And 730 00:39:50,080 --> 00:39:52,920 Speaker 1: that is absolutely something that people are watching for, Nathan, 731 00:39:53,440 --> 00:39:56,279 Speaker 1: just to see how sanctions are influencing things. It's also 732 00:39:56,360 --> 00:39:59,319 Speaker 1: additional U S sanctions over the weekend as well, uh 733 00:39:59,400 --> 00:40:02,359 Speaker 1: the US is and American accounting and consulting firms from 734 00:40:02,400 --> 00:40:06,760 Speaker 1: working with Russia. They've also targeted Russia State TV. Additional 735 00:40:06,880 --> 00:40:11,080 Speaker 1: these are restrictions export controls on industrial goods, and Biden 736 00:40:11,120 --> 00:40:13,880 Speaker 1: in the Group of Seven Leaders met and they pledged 737 00:40:13,920 --> 00:40:17,120 Speaker 1: they would phase out or ban Russian oil. Obviously, the 738 00:40:17,239 --> 00:40:19,840 Speaker 1: US has already gone through with that fan but some 739 00:40:19,920 --> 00:40:22,719 Speaker 1: of the European nations have indicated they they're going to 740 00:40:22,800 --> 00:40:25,360 Speaker 1: be working towards that. It's probably going to take until 741 00:40:25,400 --> 00:40:27,800 Speaker 1: the end of the year. So the US is continuing 742 00:40:27,840 --> 00:40:30,560 Speaker 1: to use sanctions at this point. Um although I think 743 00:40:30,600 --> 00:40:33,399 Speaker 1: there are a lot of question marks about exactly how 744 00:40:33,400 --> 00:40:37,319 Speaker 1: effective they are being. Obviously, we haven't seen um, the 745 00:40:37,400 --> 00:40:40,719 Speaker 1: invasion into Ukraine let up at this point, uh, and 746 00:40:40,760 --> 00:40:43,480 Speaker 1: we're still seeing a lot of really heavy losses there al. 747 00:40:43,520 --> 00:40:47,719 Speaker 1: I'm moving from the geopolitics to domestic politics. Obviously, the 748 00:40:47,760 --> 00:40:52,160 Speaker 1: abortion debate is really heating up, at least inside the Beltway, 749 00:40:52,280 --> 00:40:55,520 Speaker 1: and I guess the ongoing question is whether it's going 750 00:40:55,560 --> 00:40:59,640 Speaker 1: to resonate outside. That's a huge question, Nathan. I think 751 00:40:59,640 --> 00:41:01,480 Speaker 1: that's some think we're gonna be looking at for a 752 00:41:01,520 --> 00:41:04,680 Speaker 1: couple of the upcoming midterm races that really do pit 753 00:41:05,280 --> 00:41:09,400 Speaker 1: uh Democrats who are still anti abortion against more progressive, 754 00:41:10,520 --> 00:41:14,960 Speaker 1: progressive Democrats who who support abortion rights. We know that 755 00:41:15,000 --> 00:41:17,359 Speaker 1: the White House, though this is an issue that they 756 00:41:17,520 --> 00:41:20,640 Speaker 1: are seeking to really dig into ahead of the mid terms. 757 00:41:20,960 --> 00:41:23,960 Speaker 1: They know this is something uh, that the American people 758 00:41:24,160 --> 00:41:28,000 Speaker 1: are on their side, that a majority of Americans think 759 00:41:28,080 --> 00:41:32,160 Speaker 1: that abortion should be legal in all or most cases. 760 00:41:32,719 --> 00:41:35,160 Speaker 1: We're also going to see the White House potentially engage 761 00:41:35,200 --> 00:41:37,920 Speaker 1: in a number of different ways on this. They're planning 762 00:41:37,960 --> 00:41:41,600 Speaker 1: to stage events with advocates, with healthcare providers, state officials 763 00:41:41,640 --> 00:41:45,439 Speaker 1: to really highlight the issue. According to a Biden advisor, UH, 764 00:41:45,480 --> 00:41:48,640 Speaker 1: they're also looking at the possibility of providing a for 765 00:41:48,760 --> 00:41:52,160 Speaker 1: women who wanted to travel between states if this ROW 766 00:41:52,320 --> 00:41:55,399 Speaker 1: ruling does come down, or if this ruling does come 767 00:41:55,440 --> 00:41:57,960 Speaker 1: down that eliminates ROW, it gives it back to the 768 00:41:58,040 --> 00:42:01,279 Speaker 1: states to choose. It means that men who are in 769 00:42:01,360 --> 00:42:04,160 Speaker 1: states UH that ban abortion, it doesn't mean they can't 770 00:42:04,160 --> 00:42:06,440 Speaker 1: get abortion. It just means they're going to have to travel, 771 00:42:06,800 --> 00:42:09,200 Speaker 1: on some cases the hundreds of miles to receive this 772 00:42:09,400 --> 00:42:12,400 Speaker 1: kind of care. And so the White House is looking 773 00:42:12,480 --> 00:42:15,520 Speaker 1: into ways to see if they can help with that 774 00:42:15,640 --> 00:42:20,080 Speaker 1: process of women who want to getting to other states 775 00:42:20,120 --> 00:42:24,320 Speaker 1: square abortions legal. Thanks as always, Bloomberg. Government reporter Emily 776 00:42:24,360 --> 00:42:28,080 Speaker 1: Wilkins with us from Washington, d C. Looking ahead to 777 00:42:28,120 --> 00:42:31,439 Speaker 1: the market open, looks like another down day with SMP 778 00:42:31,600 --> 00:42:34,600 Speaker 1: futures lower by eighty two points down, futures down five 779 00:42:35,000 --> 00:42:38,479 Speaker 1: thirty six. NASDAC futures are lower by three eighteen points, 780 00:42:38,480 --> 00:42:41,440 Speaker 1: a drop now of two and a half percent. Bloomberg 781 00:42:41,560 --> 00:42:46,160 Speaker 1: Surveillance is straight ahead for Karen Moscow. I'm Nathan Hagar, 782 00:42:46,320 --> 00:42:48,319 Speaker 1: and this is Bloomberg