Speaker 1: Live from the Bloomberg Interactive Burgers Studios. Is is is Bloomberg
Speaker 1: Daybreak for a Monday, May nine two coming up this hour.
Speaker 1: Stocks fall and the dollar extends its rally as we
Speaker 1: begin a new trading week. Vladimir Putin justifies his invasion
Speaker 1: of Ukraine at the annual Victory Day celebration in Russia,
Speaker 1: and President Biden plants swap for free internet to millions
Speaker 1: of homes. New York Governor Kathy Hocle test positive for
Speaker 1: COVID plus Democrats help to pass legislation to preserve aboartion
Speaker 1: rights protections. I'm Michael barn More Ahead, I'm John stash
Speaker 1: Our in sports Mets and Yankees with doubleheader splits, NBA
Speaker 1: playoff wins for Dallas and Philadelphia, the Rangers at Game
Speaker 1: boor in Pittsburgh tonight. That's all s train ahead on
Speaker 1: Bloomberg Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Syrius XM one nineteen and around the world
Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business App and good morning. I'm Karen Moscow, I'm Nathan Hagar.
Speaker 1: Bloomberg Daybreak brought to you by B and Y Melon's
Speaker 1: Pershing Learned why the world's most sophisticated wealth management and
Speaker 1: institutional firms rely on Pershing to help them improve profitability,
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Speaker 1: And futures are lower this morning. It is six oh
Speaker 1: one on Wall Street, and we check the markets every
Speaker 1: fifteen minutes throughout the trading day. On Bloomberg Guess and
Speaker 1: P futures down sixty four points down, futures down four
Speaker 1: hundred nine and as day futures down two D three
Speaker 1: ten year Treasury down sixty and thirty seconds. He had
Speaker 1: three point one nine percent and they yield on the
Speaker 1: two year two point seven zero percent and nim Ex
Speaker 1: screwed oil is falling down one point eight percent. Nathan, Yeah, Karen,
Speaker 1: looks like more of the same as we enter this
Speaker 1: new trading week stock slumping in the dollar is trading
Speaker 1: at a two year high as the feds aggressive tightening
Speaker 1: path and China's COVID lockdowns hit the economic outlook. Steve Brown,
Speaker 1: his senior portfolio manager at American Century Investment Management. The
Speaker 1: fan's gonna continue to raise rates untill they get the
Speaker 1: results they want, and I think one of the after
Speaker 1: effects of their rate hikes will be a slowdown in
Speaker 1: GDP in the second half of the year in the
Speaker 1: United States, as well as the reduction and earned mids
Speaker 1: for many companies within the SMP five hundred. American Century.
Speaker 1: Steve Brown notes the SMP five hundreds coming off it's
Speaker 1: fifth straight weekly dropped. That's the longest losing streak since
Speaker 1: Well Nathan. There was heavy selling in Asia over night.
Speaker 1: Japan's NK dropped two and a half percent, while stocks
Speaker 1: in Hong Kong plunged three point eight percent. To get
Speaker 1: the recap from Bloomberg's Juliets Sally and Singapore Good Morning, Juliet,
Speaker 1: Good Morning car and China's on shore you on slid
Speaker 1: past six pot seven to the dollar for the first
Speaker 1: time since twenty twenty a mid data showing stagnating imports
Speaker 1: in the slowest export growth in dollar terms since the pandemic.
Speaker 1: Premier Li Ka Chung warned about the employment situation as
Speaker 1: Beijing and Shanghai tiight and virus curbs, sending Stokes lo
Speaker 1: Um Australia's dollar slaw against the green back, testing seventy
Speaker 1: US since. Indonesian stocks felm the most since in November
Speaker 1: twenty twenty as markets reopened after the week long id
Speaker 1: holiday in Singapore. Juliette Sally Bloomberg Daybreak, All right, Juliette,
Speaker 1: thank you. We now turned to the war in Europe.
Speaker 1: As Russia's invasion of Ukraine enters its tenth week, President
Speaker 1: Vladimir Putin is presiding over his annual display of military
Speaker 1: mate on Moscow's Red Square. Let's get the very latest
Speaker 1: from Bloomberg's un Parts. Good morning, Good morning, cond Nathan,
Speaker 1: Russia's president has justified his war in Ukraine as a
Speaker 1: battle comparable to the fight against Nazi Germany. As Putin's
Speaker 1: faltering ten week old military action rumbles on, He's been
Speaker 1: speaking at Russia's annual Victory Day celebration on Moscow's Red Square.
Speaker 1: This year's display included eleven thousand troops and weaponry, including tanks,
Speaker 1: air defense systems, and nuclear missile launches, but this year
Speaker 1: foreign leaders were not invited. In London, I'm you and
Speaker 1: Parts Bloomberg Daybreak, All right, new and thank you all
Speaker 1: back here, in the UN, the government is adding more
Speaker 1: sanctions on Russia, including a band at American accounting and
Speaker 1: consulting firms, and Bloomberg states Baxter has the story. The
Speaker 1: measures also include new export controls on industrial goods, limits
Speaker 1: on three of Russia's top state controlled TV stations, and
Speaker 1: additional visa restrictions. Now, the accounting part imposes the first
Speaker 1: sanctions on gas Prom Bank, encompassing twenty seven sanctions. It
Speaker 1: is a first there because the US was afraid of
Speaker 1: disrupting oil shipments, but now that the G seven has
Speaker 1: approved cutting those shipments, it decided to go ahead. In
Speaker 1: San Francisco, I'm at Baxter Bloomberg, Gay break all right,
Speaker 1: and thank you. President Biden is also working on his
Speaker 1: political agenda back home. He is about to make high
Speaker 1: speed internet more widely available across the United States, even
Speaker 1: for households that normally can't afford it. Amy Morris has
Speaker 1: details from our Bloomberg newsroom in Washington. It is part
Speaker 1: of the infrastructure law that passed last year. Twenty internet providers,
Speaker 1: including A T and T, Comcast, and Verizon, agreed to
Speaker 1: offer high speed connections at essentially no cost to millions
Speaker 1: of low income households. Sources tell Bloomberg News some company
Speaker 1: these will drop the prices of existing plans, others will
Speaker 1: raise their speed. The companies word offered anything, and they
Speaker 1: won't get additional government funding. The government is also launching
Speaker 1: a website called get Internet dot gov to get more
Speaker 1: people involved in the program. President Biden will formally announce
Speaker 1: the plan today in Washington. I maybe more as Bloomberg Daybreak.
Speaker 1: All right, Amy, thank you Abhout staying in Washington. Now.
Speaker 1: It looks like the US government had a record tax
Speaker 1: hall of this spring. Some of the credit goes to
Speaker 1: the surge in individual stock trading by Americans. According to
Speaker 1: Treasury Department data, tax collections since the start of the
Speaker 1: fiscal year in October are running at a record high
Speaker 1: up some of this same period in nat Star past
Speaker 1: Wall Street and is helping to shrink the budget deficit. Well,
Speaker 1: tax collections go up, Karen, so does the price of gas.
Speaker 1: In fact, the average price of regular grade gasoline jumped
Speaker 1: fifteen cents over the past two weeks to four dollars
Speaker 1: and thirty eight cents per gallon. Industry analyst Trophy Lendbergh
Speaker 1: says that's a dollar thirty six higher than it was
Speaker 1: a year ago. Nationwide, the average the highest average price
Speaker 1: for regular grade is in the San Francisco Bay area
Speaker 1: five eight five a gallon. Alright, Nathan Well, another former
Speaker 1: Trump administration official, is telling all about the inner workings
Speaker 1: of the wine house. Former Defense Secretary Mark Esper said
Speaker 1: he prevented dangerous things from happening during his time at
Speaker 1: the Pentagon, like attacking Venezuela and blockading Cuba Aspersa. As President,
Speaker 1: Trump even suggested military action closer to home. The President
Speaker 1: pulls me aside on at least a couple occasions and
Speaker 1: suggests that maybe we have the US military shoot missiles
Speaker 1: into Mexico, shoot missiles into Mexico. For what he would
Speaker 1: say to go after the cartel's. Former Defense Secretary Mark
Speaker 1: Esper tells CBS is sixty minutes. The former president told
Speaker 1: him no one would know the attack came from the US.
Speaker 1: Trump responded to Esper's claim and a statement, writing, quote
Speaker 1: no comment. Listeners in the Washington area can hear sixty
Speaker 1: minutes every Sunday night at ten on Bloomberg and the
Speaker 1: programming not this morning, Karen, please join us on Bloomberg
Speaker 1: Surveillance when we speak live with Atlanta Fed President Raphael Bost.
Speaker 1: That's coming up at eight am Wall Street time on
Speaker 1: both Bloomberg Radio and Bloomberg Television. Right now, SMP futures
Speaker 1: are down sixty three points, STOW futures down fourdered four,
Speaker 1: NASTAC futures are lower by two un A thirty seven points.
Speaker 1: Straight ahead, your latest local headlines plus a check of sports.
Speaker 1: This is Bloomberg and it's now six oh seven on
Speaker 1: Wall Street where forty seven degrees in Central Park got
Speaker 1: an accident investigation in Nassau County. Westbound Southern States closed
Speaker 1: at Central Avenue. More coming up in traffic. First Michael
Speaker 1: Barr with more on what's going on in New York
Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: New York Governor Kathy Hokel has tested positive for COVID nineteen.
Speaker 1: The governor made the announcement in a tweet yesterday afternoon.
Speaker 1: Governor Hokel says she is vaccinated and boosted against the
Speaker 1: virus and is feeling a symptomatic due to the positive
Speaker 1: test results. You will isolate and work remotely this week.
Speaker 1: Democrats are working to force a vote codify abortion rights
Speaker 1: for women, but X it's believed that vote will likely
Speaker 1: be blocked and the court's ruling will stand. Senator Amy
Speaker 1: Clobachar Minnesota says that if the Democrats are unable to
Speaker 1: successfully pass this legislation, the voters will respond. If we
Speaker 1: are not successful, then we go to the ballot box.
Speaker 1: We march straight to the ballot box, and the women
Speaker 1: of this country and the men who stand with them
Speaker 1: will vote like they've never voted before. Lawmakers in several
Speaker 1: states are already beginning to put in place their legislations
Speaker 1: restricting abortions. In Arkansas, Governor Asa Hutchinson signed a bill
Speaker 1: last year that prohibits abortion in all cases except to
Speaker 1: save the life of the mother. We wanted the reversus
Speaker 1: wade reversed and the authority to return to the states,
Speaker 1: and and so as a matter of principle, that's where
Speaker 1: it should be. Governor Hutchinson and Senator Clobachar spoke on
Speaker 1: ABC's This Week, which can be here at Sundays on Bloomberg.
Speaker 1: Dangerous gusty winds are expected to continue across northeast New
Speaker 1: Mexico today. That's likely to complicate the flight against wildfires
Speaker 1: that threatened thousands of homes in mountainous rural communities. A
Speaker 1: growing number of parents nationwide face a shortage of baby
Speaker 1: formula due to supply chain issues, and a February recall
Speaker 1: of three popular brands made by Abbot. Dr A Lock
Speaker 1: Betel is with Stanford Children's Health. For parents out there
Speaker 1: right now who are struggling to find a formula, one
Speaker 1: easy thing you can do is trying to switch formulas.
Speaker 1: See if your child can tolerate that. Dr Patel spoke
Speaker 1: to ABC. An earthquake centered northeast of South Carolina's capital
Speaker 1: city jolted large numbers of state residents awake. Authorities say
Speaker 1: the quake overnight had a preliminary three point three magnitude.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analyst more than a hundred twenty countries. Michael
Speaker 1: Barr and this is Bloomberg, Nathan, Thank you, Michael six
Speaker 1: o nine on Wall Street Time for the Bloomberg Sports
Speaker 1: Update with john Sen shown all right, Athan, Yankees and Mets,
Speaker 1: Let's play to do all the rain at the stadium.
Speaker 1: Yankees won the opener with Texas to one on the
Speaker 1: Labor Toria his home run leading off the bottle of
Speaker 1: ninth and it went to right center field. Chris Woodward,
Speaker 1: the Rangers manager, said it would not have been a
Speaker 1: homer in any other ballpark, and he called Yankee Stadium
Speaker 1: a little league ballpark. Tore As was asked about that,
Speaker 1: I feel like both team play in the symbol par
Speaker 1: and he's a sentimation. Uh. I think I feel good
Speaker 1: to to his walk off homer in the little liberal
Speaker 1: par and I mean happy to one first tour as
Speaker 1: the second welk off head of the season, Yanks denied
Speaker 1: the sweet They led to nothing with a John Carlos
Speaker 1: Stanton home run, but Brad Miller to run shot off
Speaker 1: Michael Kings seventh and the Rangers went four to two.
Speaker 1: King took the loss. He came in having not allowed
Speaker 1: to run in thirteen straight innings. In Philadelphia, the Mets
Speaker 1: lost three to two. Max Jerger struck out ten but
Speaker 1: suffered his first Met loss. He's now four and one.
Speaker 1: Chris Bassett then got his fourth win and the Mets
Speaker 1: took the nightcap six to one, thanks to Pete Alonso
Speaker 1: to run over in the first to name three run
Speaker 1: shot in the fifth NBA and NHL Playoffs. There were
Speaker 1: six games played Sunday and all were Game four's, and
Speaker 1: all six or one by the home team, and all
Speaker 1: six series and outside to two. That's after Dallas beat
Speaker 1: Phoenix in the NBA and Philadelphia top Miami and Stanley
Speaker 1: Cup playoff wins for Boston, Tampa, Bay St. Louis in
Speaker 1: l A. The Rangers hoping to be too two with
Speaker 1: the Penguins after tonight's Game four in Pittsburgh. The Rangers
Speaker 1: two losses have been tough ones, first to triple overtime
Speaker 1: loss in Game one of them Saturday. They fell after
Speaker 1: coming from three goals down to tie things up. John Stash,
Speaker 1: they were Bloomberg Sports Nathan all Right, John, thank you.
Speaker 1: SMP futures down down sixty seven points, a drop of
Speaker 1: one point six percent. Now, DOWT futures down four thirty one.
Speaker 1: NASCAC futures are lower by nearly two percent, down two
Speaker 1: hundred forty five points. The dollar training at at two
Speaker 1: year high. Talk about dollar strength. Next to Jane Foley,
Speaker 1: head of f X strategy at Robbo Bank. You're listening
Speaker 1: to Bloomberg Daybreak, Bloomberg Day break brought to you by
Speaker 1: the Jewish Communal Fund j c F S don'tor advised
Speaker 1: fund is the smart choice to manage a philanthropy, especially
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Speaker 1: c F n Y dot org, markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business app, and at Bloomberg Quicktake. He's a
Speaker 1: Bloomberg Business lash and I'm Karen Moscow. Investors rushing to
Speaker 1: the safety of the US dollar about global stock slide
Speaker 1: every closer to a bear market as the Federal Reserve's
Speaker 1: aggressive tightening path in China's COVID mockdowns worse in the
Speaker 1: outlook for economic growth, the dollar extending a two year high,
Speaker 1: rising against all of its major peers. We checked the
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg
Speaker 1: Guess and P Future is down sixty eight points. Out
Speaker 1: futures down four hundred forty three and as DAG futures
Speaker 1: down two hundred fifty one. That's down two percent. The
Speaker 1: decks in Germany is down one percent. The tend your
Speaker 1: treasury down eighteen thirty seconds. You'll three point zero percent.
Speaker 1: They yield on a two year two point seven one percent.
Speaker 1: Nimex Screude oil is down one point seven percent on
Speaker 1: a dollar eighties six and a hundred seven dollars eighty
Speaker 1: nine cents of barrel Comic schoold is down one point
Speaker 1: two percent or twenty two dollars nineties cents at eighteen
Speaker 1: fifty nine ninety announce. The euro one point oh five
Speaker 1: three eight against the dollar British found one point to
Speaker 1: three one eight and the end is at one thirty
Speaker 1: one point one seven. Bitcoin this morning lower down two
Speaker 1: and a half percent at thirty three thousand and three
Speaker 1: hundred sixty dollars. And that's at Bloomberg Business Flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael, thank you very much, Cameron. Russia commemorated
Speaker 1: Victory Day with a military parade. Russia's Victory Day marks
Speaker 1: the end of World War Two. President Vladimir Putin addressed
Speaker 1: the parade in Red Square as Ukraine's military warns of
Speaker 1: a high probability of missile strikes ahead of the expected
Speaker 1: Senate vote this week on an abortion rights bill. Catholic
Speaker 1: churches in cities across the country are increasing security. In baseball,
Speaker 1: the Yankees split a double header with the Rangers. The
Speaker 1: Mets split a double header with the Phillies. The Orioles
Speaker 1: swept a double header against the Royals. The Red Sox,
Speaker 1: Nationals and A's lost. The Giants won n NHL Playoffs.
Speaker 1: The Bruins beat the Hurricanes that even the series at
Speaker 1: two games. Apiece Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than twenty seven hundred journalists, and that list for more
Speaker 1: than a hundred twenty countries. I'm Michael Barr, and this
Speaker 1: is Bloomberg. Nathan, Okay, Michael, thank you, at six nineteen
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak, and let's talk more now about
Speaker 1: this strengthening dollar, the greenbacks about the only thing in
Speaker 1: the green this morning, as US stocks look poised for
Speaker 1: a sixth straight week of losses. For more, We're joined
Speaker 1: by Jane Foley, head of f X Strategy at Bravo Bank. Jane,
Speaker 1: it's good to have you back with us this morning.
Speaker 1: Is this a case of there is no alternative when
Speaker 1: it comes to safety the US dollar. Yeah, you know what,
Speaker 1: I think that's what it is. I mean, we could
Speaker 1: talk about the FED, but certainly I think this is
Speaker 1: part of a bigger picture. So we have an environment
Speaker 1: here where China is slowing. Certainly, we have an environment
Speaker 1: where there's lots of concerns about energy security in the Eurozone,
Speaker 1: and certainly if the EU do go ahead and have
Speaker 1: an oil embargo on Russia, that will not be without
Speaker 1: paying for big industrialized economies such as Germany. And so
Speaker 1: we are now talking about the possibility of of no
Speaker 1: growth maybe next year in the Eurozone. Some people talking
Speaker 1: about the possibility of a recession, and that is very
Speaker 1: much linked to the energy story. So slower growth certainly
Speaker 1: in Neurozone, slow growth now in in China, link with
Speaker 1: the COVID stories. We have an environment where emerging markets
Speaker 1: are looking pretty risky, perhaps unless they are big exporters
Speaker 1: of energy. Certainly in emerging markets don't look too good.
Speaker 1: And certainly when you have a backdrop of higher US
Speaker 1: interest rates, well that's something which generally speaking will be
Speaker 1: detrimental to quite a fair view of emerging markets. So
Speaker 1: in that environment, what do you buy or you buy
Speaker 1: safe haven. But the end right now is not really
Speaker 1: a safe haven. It's it's current account position has really
Speaker 1: been quashed by the higher commodity prices. And you've got
Speaker 1: that intrastrate differential issue going on in Japan. Two. So
Speaker 1: it is the dollar and in our view the factors
Speaker 1: that are coming together right now. Do you suggest that
Speaker 1: we could have a stronger, for longer US dollar? So
Speaker 1: do you think that we could be headed to a
Speaker 1: point where the euro reaches parody with the dollar? Is
Speaker 1: that where we could be headed? Yeah? You know what,
Speaker 1: how do you ask me that a couple of months ago,
Speaker 1: I just said, you know, I hope not, because if
Speaker 1: we see parity for the euro dollar, then it suggests
Speaker 1: a combination of some nasty fundamentals for the Eurozone. But
Speaker 1: that that combination of nasty fundamentals does seem a little
Speaker 1: bit more realistic now. And again this comes back to
Speaker 1: this energy security issue. A couple of months ago that
Speaker 1: the market knew that this was a risk, but it
Speaker 1: wasn't so focused on it. And and now it seems
Speaker 1: there's a lot of pressure, of course on Germany to
Speaker 1: to sign up for this embargo against Russian or we
Speaker 1: all understand the reasons why. But nearly we know that
Speaker 1: this will be very painful for Germany's large and industrialized economy,
Speaker 1: and and that does mean lower growth possibility and therefore
Speaker 1: a week of Europe potentially. If we do see a
Speaker 1: stronger dollar for longer, what does that mean for the Fed?
Speaker 1: Does that have an impact on financial conditions that could
Speaker 1: affect the Fed's policy path going forward? Well, it fits
Speaker 1: in quite nicely with the Fed's policy path. And now
Speaker 1: if we go back a couple of years, when everybody
Speaker 1: was in a weak inflationary backtop, we were then talk
Speaker 1: about the the race to the bottom. Everybody wanted a
Speaker 1: weak exchange rate, and that was the case when you
Speaker 1: want when you have weak when you have soft inflation.
Speaker 1: Now the coin has flipped when an environment where it
Speaker 1: is a strong inflation and of course see the opposite
Speaker 1: is true. A stronger currency will help you with your
Speaker 1: imported prices. So if commodities or other imports go I comprice,
Speaker 1: if you've got a strong currency, it helps negate some
Speaker 1: of those price increases. And so now people want a
Speaker 1: stronger currency. The higher interest rates of a course conducive
Speaker 1: to a stronger currency. And again we have this interstructor
Speaker 1: frencial pulling towards the dollar. At the same time, we
Speaker 1: have higher interest rates pushing against economies that, for instance,
Speaker 1: have emerging market economies that have a high level of
Speaker 1: dollar denominated debts, and when emerging markets are out of favor,
Speaker 1: we generally see that the dollar doing well about thirty seconds, Jane,
Speaker 1: do you see a dollar strengthening as a recession risk indicator?
Speaker 1: Quite possibly, and again it would be very concur in
Speaker 1: the US. There is a possibility for a session in
Speaker 1: the US in the second half of next year that
Speaker 1: certainly we see that, but for now the safe haven
Speaker 1: element of dollar demand could certainly outweigh that for the US.
Speaker 1: Thank you as always, Jane, great having you back on
Speaker 1: with us. Jane Foley, head of FX Strategy at Robbo Bank.
Speaker 1: And just looking at the Bloomberg Dollar Spot Index on
Speaker 1: this session, it is higher by four tenths of one percent.
Speaker 1: Futures moving sharply lower now with SMP future is now
Speaker 1: down sixty seven points, the decline of one point six percent.
Speaker 1: Down futures down forty four that's a drop of one
Speaker 1: point four percent, and NASTAC futures are lower by two percent,
Speaker 1: now down two hundred fifty points, and the tenure Treasury
Speaker 1: is down sixteen thirty seconds with a yield three point
Speaker 1: one nine percent. Just ahead. More on the global stock
Speaker 1: slide and Vladimir Putin justifies war in Ukraine on Russia's
Speaker 1: victory day. Five things you need to notice start your day.
Speaker 1: Coming up on Bloomberg day Break Bloomberg eleven three oh
Speaker 1: weather partly the mostly sunny, breezy with a high near
Speaker 1: sixty five today, sunshine in a breeze tomorrow with a
Speaker 1: high near seventy. We'll keep it sunny with a high
Speaker 1: near seventy on Wednesday. Right now forty seven in Central Park.
Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston,
Speaker 1: Bloomberg one O six one does San Francisco, Bloomberg nine
Speaker 1: sixty to the country, Sirius XM to the one nine
Speaker 1: and around the globe the Bloomberg Business app in Bloomberg
Speaker 1: Radio dot com. This is Bloomberg Daybreak six thirty on
Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow.
Speaker 1: We're just about three hours away from the open of
Speaker 1: US trading time for the five things you need to
Speaker 1: Notice start your day to you by Interactive Brokers. Interactive
Speaker 1: Brokers charges margin loan rates from zero point eight three
Speaker 1: percent to one point three percent rate centject to change.
Speaker 1: Learn more at ib k R dot com slash compare First.
Speaker 1: Stocks are down as the dollar trades at a two
Speaker 1: year high to begin the week. The S and P
Speaker 1: has dropped for five a straight weeks, and global stocks
Speaker 1: continue their downward trend. It's all comes as rising interest
Speaker 1: rates in China's COVID to lockdowns pressure markets. Katrina L,
Speaker 1: senior economists with Moody's Analytics, says lockdowns are significantly impacting
Speaker 1: exports from China and economies across the globe. It is
Speaker 1: disrupting the pots, it is disrupting manufacturing it and more broadly,
Speaker 1: it's really hurting China's economic recovery because consumers and businesses,
Speaker 1: you know, a force basically back into hibernation, and that's
Speaker 1: in stock contrast to the rest of the world. Moody's
Speaker 1: Analytics senior economist Katrina L says economic prospects for China
Speaker 1: are dim due to lockdowns. Quick programming out Karen will
Speaker 1: speak live this morning with it n A FED President
Speaker 1: Raphael Bostick about the economy. So please join us at
Speaker 1: eight am all Street time for that on both Bloomberg
Speaker 1: Radio and television. Well at turning to Russia now, Nathan,
Speaker 1: where President Vladimir Putin is attempting to justify his invasion
Speaker 1: of Ukraine. He spoke of the country's annual victory de
Speaker 1: parade in Moscow. Native started capturing the territories of which
Speaker 1: are so I'm a planned basis. There was a thrit
Speaker 1: which was taken unacceptable to US. Russia. President Vladimir Putin
Speaker 1: said the invasion is comparable to Russia's fight against Nazi Germany.
Speaker 1: Back in the US, Karen, President Biden is about to
Speaker 1: make high speed internet more widely available as part of
Speaker 1: his infrastructure law the past last year. The President will
Speaker 1: discuss the plan later today. And President Trump's Forward Defense
Speaker 1: Secretary Mark Esper is revealing conversations that who had about
Speaker 1: possible military action the US colintake in Mexico ASP, saying
Speaker 1: President Trump wanted to launch missiles to attack drug cartels.
Speaker 1: We would have this private discussion, right say Mr President,
Speaker 1: You know I understand the motive because he was very
Speaker 1: serious about dealing with drugs in America. I get that,
Speaker 1: we we all understand, but I had explained to him,
Speaker 1: we can't do that. It would violate their national law.
Speaker 1: Former Defense Secretary Mark Esper tells CBS is sixty minutes
Speaker 1: he persuaded President Trump and not to take those actions.
Speaker 1: Trump has not commented on Esper's claim, and listeners in
Speaker 1: the Washington area can hear sixty minutes every Sunday night
Speaker 1: at ten on Bloomberg one. That's the five things that
Speaker 1: you need to notice start your day, brought to you
Speaker 1: by Interactive Brokers, straight to hand, your local headlines, plus
Speaker 1: the check of sports. This is Bloomberg. Karen sixty three
Speaker 1: on Wall Street, forty eight degrees in Central Park. I
Speaker 1: have an accident on the southbound Harlem River Drive at
Speaker 1: a hundred fifty five. Details coming up in traffic. First
Speaker 1: Michael Barr with more on what's going on in New
Speaker 1: York and around the world. Michael, thank you very much. Nathan.
Speaker 1: New York Governor Kathy hockle Let's tested positive for COVID nineteen.
Speaker 1: The governor made the announcement in its week yesterday afternoon.
Speaker 1: Governor Hokel says she is vaccinated and boosted against the
Speaker 1: virus and is feeling a symptomatic due to the positive
Speaker 1: test results. You will isolate and work remotely. This week.
Speaker 1: A new CBS News poll shows a majority six of
Speaker 1: those survey do not want the Supreme Court to overturn
Speaker 1: Roe v. Wade. It comes in the wake of elite
Speaker 1: draft opinion from the High Courts majority calling for reversing Row.
Speaker 1: Democrats are now working to force a vote to comify
Speaker 1: abortion rights for women nationwide next week, but experts believe
Speaker 1: that vote will likely be blocked and the Court's ruling
Speaker 1: will stand. Senator Geority Leader Chuck Schumer of New York
Speaker 1: says every Senator will have to go on record and
Speaker 1: vow to keep fighting not on our watch. Will you
Speaker 1: take away women's rights? Will you take away the right
Speaker 1: to choose? Will you dismantle women's rights after fifty years
Speaker 1: fifty years of president? Senator Schumer says if Republicans vote
Speaker 1: the bill down, it will backfire. In Arkansas, Governor Asa
Speaker 1: Hutchinson signed a bill last year the prohibits abortion in
Speaker 1: all cases except to save the life of the mother.
Speaker 1: Hutchinson says he doesn't agree with some of his GOP
Speaker 1: colleagues calling for a nationwide abortion ban, and states are
Speaker 1: gonna make different determinations of it. But the people are
Speaker 1: going to express to their representative exactly the direction they
Speaker 1: want to go, and to me, that makes sense, and
Speaker 1: I think it makes sense under our constitution. Governor Hutchinson
Speaker 1: made his comments on ABC's This Week, which can be
Speaker 1: heard Sundays on Bloomberg. Italy's Capitalist Banned outdoor picnics. A
Speaker 1: woman in a Rome park recently tried to scare off
Speaker 1: a wild board that was charging your dog. Another woman
Speaker 1: was recently knocked over by one while throwing a garbage
Speaker 1: in the street bin. There are about twenty three thousand
Speaker 1: wild boards that live in and around Rome, often seen
Speaker 1: munching on garbage and overflowing street bins. We've got our
Speaker 1: own problems here in New York City, rats eating garbage
Speaker 1: in the streets. According to the city, the rat population
Speaker 1: has hit a decade high. Global news twenty four hours
Speaker 1: a day on air and on Bloomberg Quittake, powered by
Speaker 1: more than seven hundred journalists, analysts, and more than a
Speaker 1: hundred twenty countries. I'm Michael bar this is Bloomberg Nathan,
Speaker 1: Something's never changed. Thank you, Michael on Wall Street. Time
Speaker 1: for the Bloomberg Sports something with John Sesshawer. Thanks nay Fan.
Speaker 1: Yankees and Mets both right now twice finally took the
Speaker 1: field with double headers. The Yanks first game since last Wednesday.
Speaker 1: They beat the Rangers two to one on the Labor
Speaker 1: Touria's home run leading off the bottom of nine then
Speaker 1: and that made it twelve wins in thirteen games. They
Speaker 1: had a two nothing lead in the nightcap, but Texas
Speaker 1: came back to win four to two, and the two
Speaker 1: teams will finish the series with a makeup game this
Speaker 1: afternoon at the Stadium. The Mets with a pair in Philadelphia.
Speaker 1: They lost three to two, but then one six to one,
Speaker 1: with Petter Alonso doing the damage to run Homer then
Speaker 1: a three run shot, so the Mets win the series.
Speaker 1: They have yet to lose the series this season. In
Speaker 1: Seattle's win over Tampa Bay, George Kirby started for the Mariners.
Speaker 1: He's a top prospect. In his big league debut six
Speaker 1: scoreless innings. Kirby grew up in Westchester. NBA playoffs Dallas
Speaker 1: beat Phoenix and Philadelphia beat Miami, so both series are
Speaker 1: tied at two, with the home team winning every game,
Speaker 1: and the home teams also won in the NHL Boston, Tampa,
Speaker 1: Bay St. Louis, and Los Angeles. All four of those
Speaker 1: first round series are tied at two, and the Rangers
Speaker 1: are hoping to be too too with the Penguins. After
Speaker 1: tonight's Game four in Pittsburgh, Igor sister Kin, we'll be
Speaker 1: back in the Ranger goal after coach Gerard Galad pulled
Speaker 1: him after a shaky first period Saturday, expecting to be expanding.
Speaker 1: You know, he's you know, it's a it's a one
Speaker 1: off for me that that stuff happens like that. And again,
Speaker 1: nobody's blaming him, you know when I mean other team.
Speaker 1: We've dominated the borg period, like we said last night,
Speaker 1: so it's nothing on ego. It was two lucky goal
Speaker 1: of the first two when the way we go to
Speaker 1: the Rangers two losses in the series. They have not
Speaker 1: scored a goal after the second period. That includes the
Speaker 1: three overtime periods they played in Game one. John Stashward
Speaker 1: Bloomberg Sports Steven all right, John, thank you sixty seven
Speaker 1: on Wall Street. Time now to take a look at
Speaker 1: st some of the names moving in the pre market.
Speaker 1: Though maybe a little tough to look under the hood
Speaker 1: this morning. We're gonna do it, though. Bloomberg Radio TV
Speaker 1: Markets correspondent Credy Gufta is with us. Someone looks like
Speaker 1: another down day, cred I'm up for the challenge, Nathan.
Speaker 1: But you know what, I think you're a percent right.
Speaker 1: This is I mean, this is a macro story. This
Speaker 1: is also even a sector story. When you look at
Speaker 1: the stock market right now, a lot of pain in
Speaker 1: those tech stocks. Remember it's the tech stocks that have
Speaker 1: led the SMP record highs that are getting hit the hardest.
Speaker 1: For example, a A p L's ear ticker for Apple
Speaker 1: down two point two percent this morning, and the volume
Speaker 1: just extremely heavy in Apple shares. And now, of course
Speaker 1: some of that simply is because it's a heavyweight. But
Speaker 1: keep in mind the research suggesting that any time you
Speaker 1: have a Friday sell off that was as bad as
Speaker 1: we saw it, and of course Thursday as well that
Speaker 1: proceeded at the biggest drop going back to September, the
Speaker 1: Monday that follows tends to be pretty brutal as well,
Speaker 1: and today is really no exception. You are seeing that
Speaker 1: pain right off the bat. Something else to keep in
Speaker 1: mind is micros. For example, M s f T is
Speaker 1: another ticker that you want to keep your eye on,
Speaker 1: down two point three percent. If you don't have Apple
Speaker 1: and Microsoft on your side, the S and P five
Speaker 1: hundred unlikely to rally, at least in the short terms.
Speaker 1: That's got something to keep your eye on. Let's talk
Speaker 1: about energy stocks though, because as we talk about growth
Speaker 1: and inflation, the theory is the energy stocks would actually
Speaker 1: do much much better because the higher prices would end
Speaker 1: up feeding into their bottom line and not being said,
Speaker 1: even though we have seen higher commodity prices, although today
Speaker 1: you do see a little bit of pain, and Crewed
Speaker 1: still over a hundred dollar oil is nothing to scoff at.
Speaker 1: You are seeing a little bit more pain than we've
Speaker 1: seen in the oil names this morning. So for example,
Speaker 1: Occidental o x Y is your ticker down two point
Speaker 1: three percent. Slumberge as well, down two point four percent.
Speaker 1: What's interesting is that the ones that are performing the
Speaker 1: worst this morning, Nathan, are the ones to have more
Speaker 1: American exposure. That used to be a good thing, that
Speaker 1: used to be a defensive hedge idea of the idea
Speaker 1: that less of less supply from Russia would be needed.
Speaker 1: Therefore Americans could kind of make up the gap. But
Speaker 1: as we see this hesitation to hop back into the market,
Speaker 1: these names that were the hedge not really serving that
Speaker 1: purpose anymore. Well, it looks like investors, at least as
Speaker 1: a whole, or running for the exits. Is there anything
Speaker 1: in the green this morning? There is. You have to
Speaker 1: look very closely, but there is, and there's even a
Speaker 1: theme to it, a little bit of a bonus. Tyson T.
Speaker 1: S n As your taker is reporting earnings after the bell.
Speaker 1: Of course we know this as the meat company, um.
Speaker 1: But we also have to keep in mind that food
Speaker 1: inflation is very much a concept. If you're seeing a
Speaker 1: little bit of down pressure and commodities broadly, food prices
Speaker 1: remain at record highs, record in history. How much of
Speaker 1: that feeds into some of these food names. So Tyson T.
Speaker 1: S n Up one point three percent, like I said,
Speaker 1: ahead of earnings after the bell, General Mills is another
Speaker 1: one g I s as your taker of four tenths
Speaker 1: of one percent. And you're also seeing Kellogg just the
Speaker 1: letter k about Flatten the session. That's a big deal
Speaker 1: given that everything else is dropping. Nathan, Yeah, certainly seeing
Speaker 1: that a Bloomberg Gradi and TV Markets correspondent Creed Gupta
Speaker 1: with us this morning, as futures add to their declines. Right,
Speaker 1: USMP futures are down seventy nine points, that's a drop
Speaker 1: of one point nine percent. Now DAL Future is lower
Speaker 1: by five five points. Nasdaq futures down two point four percent,
Speaker 1: a decline of three hundred three points. Tenure Treasury down
Speaker 1: fourteen thirty seconds, yield three point one eight percent. This
Speaker 1: is Bloomberg, Bloomberg eleven three oh weather temperatures are going up,
Speaker 1: will be in the mid sixties today with sunshine and
Speaker 1: debreez seventy four highs tomorrow and Wednesday. Right now in
Speaker 1: Central Park markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business app
Speaker 1: and at Bloomberg Quicktake. He's a Bloomberg Business lash and
Speaker 1: I'm car in Moscow. Future is following this morning, we
Speaker 1: got the first word breaking news desk for today's morning call.
Speaker 1: And here's Bill Maloney. Bill, good morning, Hey, good morning, Karen.
Speaker 1: That's right. US features are plunging right now, trading on
Speaker 1: the pre market lows of doubt futures down five hundred
Speaker 1: and fifty seven points says to be dropped eighty three.
Speaker 1: Nasdek futures are lower by three seventeen. The US ten
Speaker 1: year old now at three point when a percent. Gold
Speaker 1: is down twenty four, oil isn't red, and bitcoin is
Speaker 1: down by three percent. Japan dropped to a half percent overnight,
Speaker 1: while up markets are also under pressure and back in
Speaker 1: the US on the economic front. At ten o'clock, sale
Speaker 1: inventories regarding some of the earnings this morning, look for
Speaker 1: a pounds here. Duke Energy and Tyson to report in
Speaker 1: the pre market and other news. Third Point expanded its
Speaker 1: steak in shell rapid Things up. Dish was cut to
Speaker 1: neutral over at JP. Morgan Live from the first breaking
Speaker 1: news scam. Bill Maloney, Karen, all right, Bill, thank you
Speaker 1: to hear live breaking news over here. Bloomberg types squawk
Speaker 1: on your terminal squ a w K and that's a
Speaker 1: Bloomberg business flash. Now here's Michael bar with more on
Speaker 1: what's going on around the world. Mchael, Karen, thank you
Speaker 1: very much. Russian forces pushed forward and they're assault on
Speaker 1: Ukraine seeking the cap. You're the crucial southern port city
Speaker 1: of Mariupol As Moscow's celebrated its Victory Day holiday. Russian
Speaker 1: troops pumble a steel mill where an estimated two thousand
Speaker 1: Ukrainian fighters are still making their last stand. Speaking today,
Speaker 1: and the military parade marking the holiday, Russian President Vladimir
Speaker 1: Putin sought to justify his invasion. In baseball, the Yankees
Speaker 1: split a double header with Rangers. The Mets split a
Speaker 1: double header with the Phillies. The Orioles won a double
Speaker 1: header against the Royals. The Red Sox, Nationals and A's lost.
Speaker 1: The Giants won. In the NHL playoffs, the Bruins beat
Speaker 1: the Hurricanes to even the series at two games. Apiece
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than seven hundred journalists
Speaker 1: and analysts in more than a hundred twenty countries. I'm
Speaker 1: Michael Barr. This is Bloomberg. The following commentary is from
Speaker 1: Bloomberg Opinion. California versus Florida a COVID reckoning. I'm Justin Fox,
Speaker 1: a columnist for Bloomberg Opinion. California and Florida are widely
Speaker 1: seen as represents opposite polls of COVID nineteen policy with reason.
Speaker 1: Both states shut down similarly in spring, and both had
Speaker 1: similar success last year in vaccinating elderly residents, but on
Speaker 1: in person schooling, indoor dying, mask mandates, and other policies.
Speaker 1: They followed different courses from much of the pandemic, with
Speaker 1: California tending towards strictness and Florida not. How have they
Speaker 1: fared in saving lives? Adjusted for population, Florida has had
Speaker 1: thirty four percent more COVID deaths than California, but old
Speaker 1: people are at the highest risk from the disease and
Speaker 1: Florida has lots. Adjust for age, and Florida's COVID mortality
Speaker 1: rate is only three percent higher. Those seventy and up
Speaker 1: actually fared slightly better there. Mortality among the young has
Speaker 1: been much higher in Florida than California, but the absolute
Speaker 1: numbers are quite low. I'm justin Fox. For more opinion,
Speaker 1: please go to Bloomberg dot Com Slash Opinion, r O
Speaker 1: p ion go on. The Bloomberg terminal has been Bloomberg
Speaker 1: Opinion and Bloomberg Opinion commentaries can be heard every weekday
Speaker 1: at this time, and terminal customers can read more at
Speaker 1: O p I n go. It is six fifty on
Speaker 1: Wall Street. Returned to news and science and Technology now
Speaker 1: with a Bloomberg and j I T STEM report brought
Speaker 1: to you by New Jersey Institute of Technology, ranked a
Speaker 1: top fifty national public university by US News and World Report,
Speaker 1: and j I T is future in the making. Learn
Speaker 1: more at n j I T dot E du you
Speaker 1: now Here's this making News and science, Technology, engineering, and math.
Speaker 1: Shanghai strict COVID curves are disrupting healthcare services halfway across
Speaker 1: the world, with hospitals in New York suffering a shortage
Speaker 1: of chemicals used in imaging tests. The Greater New York
Speaker 1: Hospital Association set healthcare facilities have seen shortages of an
Speaker 1: IO donated contrast medium that's produced at a GE healthcare
Speaker 1: facility in Shanghai. The chemical agent is widely used in
Speaker 1: X rays, radiography, and CT scans. Twenty u S Internet
Speaker 1: providers will offer high speed connections at essential no cost
Speaker 1: to millions of low income households. It's part of a
Speaker 1: program funded by the Infrastructure law passed last year. A
Speaker 1: T and T, Comcast, and Verizon or among the companies
Speaker 1: taking part, and Microsoft has an initial one point three
Speaker 1: billion dollars at stake in a test beginning later this
Speaker 1: month on whether it's hallow lens augmented reality Google Goggles
Speaker 1: can be turned into an effective combat system for the U. S. Army.
Speaker 1: The month long test will be evaluated by the Pentagon's
Speaker 1: Testing Office to determine whether the headset is ready for
Speaker 1: full production and initial deployment. The Integrated Visual Augmentation System
Speaker 1: would let commanders project information onto a visor in front
Speaker 1: of a soldier's face and and include features such as
Speaker 1: night vision. That's a Bloomberg n j I t STEM report.
Speaker 1: Nathan all right, Karen, thank you. We're live from the
Speaker 1: Bloomberg Interactive Brokers studios where it's six fifty two on
Speaker 1: Wall Street Time now to check what's going on in
Speaker 1: d C. Some of the top stories in our nation's
Speaker 1: capital include the US adding even further sanctions on Russia
Speaker 1: as President Vladimir Putin Mark's victory day in Mosque. On
Speaker 1: Capitol Hill, how Speaker Nancy Pelosi says there is urgency
Speaker 1: for Congress to pass the next thirty three billion dollars
Speaker 1: in Ukraine aid this month. We have a recognition of
Speaker 1: the need for weapons for sanctions, more weapons, more sanctions,
Speaker 1: more economic assistance, and more humanitarian Assistant Speaker Pelosi was
Speaker 1: on CBS's Face the Nation. Also making news a revived
Speaker 1: debate over abortion rights six months before the midterms. Democratic
Speaker 1: Senator Amy Klobscher was on ABC's This Week. The question
Speaker 1: that voters are going to be asking when seventy people
Speaker 1: are with us on this is who should make this decision.
Speaker 1: Should it be a woman and her doctor or a politician.
Speaker 1: Should it be Ted Cruz making this decision? Or a
Speaker 1: woman and her family. While some pro life Republicans look
Speaker 1: ahead to the next phase of their movement, Mississippi Governor
Speaker 1: Tate Reeves was on NBC's Meet the Press. What we're
Speaker 1: trying to do is stand up for the rights of
Speaker 1: those unborn children, stand up for those who absolutely cannot
Speaker 1: stand up for themselves. That's why this this decision is
Speaker 1: is so important. Meet the Press this Week and Face
Speaker 1: the Nation can be heard every Sunday right here on
Speaker 1: Bloomberg Radio. Bloomberg Government reporter Emily Wilkins is joining us
Speaker 1: now from the nation's capital. Let's start off with what's
Speaker 1: happening in the war in Ukraine. Emily, I know the
Speaker 1: White House had been watching very closely for what the
Speaker 1: President Putin would say at the Victory Day parade in Moscow. Today,
Speaker 1: while we wait for that response, what stood out to
Speaker 1: you from what the Russian president had to say, Well,
Speaker 1: I think it's more of what the Russian president didn't say.
Speaker 1: You know. One of the things that some Western officials
Speaker 1: thought might happen is that Klutin might actually declare the
Speaker 1: evasion into Ukraine a war. Now right now, he's just
Speaker 1: called it a special military offer operation. But calling the
Speaker 1: war would really help Russia with a mass mobilization to
Speaker 1: assist troops already in Ukraine. It would also force Russians
Speaker 1: to face the reality of the conflict. I mean, I
Speaker 1: think here in the US, elsewhere in the world, everyone
Speaker 1: is absolutely calling this invasion from Russia into Ukraine a war.
Speaker 1: And it's been interesting to see how Russia has really
Speaker 1: controlled that that message among its own people. But we
Speaker 1: didn't hear that today. What we did here was putin
Speaker 1: compare the current fighting in Ukraine to the Soviet Union
Speaker 1: fighting Nazis in nineteen You did also see that the
Speaker 1: annual event, that annual parade, but it was a little smaller.
Speaker 1: This year. I mean in part because you know, they
Speaker 1: have so many military operations now deployed in Ukraine. A
Speaker 1: planned fly over of military jets and helicopters was also
Speaker 1: canceled today. State media said that was due to cloudy weather.
Speaker 1: And you have to wonder Emily as well, whether this
Speaker 1: smaller show of force in Moscow is a sign that
Speaker 1: sanctions are starting to have a bite on Russia. And
Speaker 1: that is absolutely something that people are watching for, Nathan,
Speaker 1: just to see how sanctions are influencing things. It's also
Speaker 1: additional U S sanctions over the weekend as well, uh
Speaker 1: the US is and American accounting and consulting firms from
Speaker 1: working with Russia. They've also targeted Russia State TV. Additional
Speaker 1: these are restrictions export controls on industrial goods, and Biden
Speaker 1: in the Group of Seven Leaders met and they pledged
Speaker 1: they would phase out or ban Russian oil. Obviously, the
Speaker 1: US has already gone through with that fan but some
Speaker 1: of the European nations have indicated they they're going to
Speaker 1: be working towards that. It's probably going to take until
Speaker 1: the end of the year. So the US is continuing
Speaker 1: to use sanctions at this point. Um although I think
Speaker 1: there are a lot of question marks about exactly how
Speaker 1: effective they are being. Obviously, we haven't seen um, the
Speaker 1: invasion into Ukraine let up at this point, uh, and
Speaker 1: we're still seeing a lot of really heavy losses there al.
Speaker 1: I'm moving from the geopolitics to domestic politics. Obviously, the
Speaker 1: abortion debate is really heating up, at least inside the Beltway,
Speaker 1: and I guess the ongoing question is whether it's going
Speaker 1: to resonate outside. That's a huge question, Nathan. I think
Speaker 1: that's some think we're gonna be looking at for a
Speaker 1: couple of the upcoming midterm races that really do pit
Speaker 1: uh Democrats who are still anti abortion against more progressive,
Speaker 1: progressive Democrats who who support abortion rights. We know that
Speaker 1: the White House, though this is an issue that they
Speaker 1: are seeking to really dig into ahead of the mid terms.
Speaker 1: They know this is something uh, that the American people
Speaker 1: are on their side, that a majority of Americans think
Speaker 1: that abortion should be legal in all or most cases.
Speaker 1: We're also going to see the White House potentially engage
Speaker 1: in a number of different ways on this. They're planning
Speaker 1: to stage events with advocates, with healthcare providers, state officials
Speaker 1: to really highlight the issue. According to a Biden advisor, UH,
Speaker 1: they're also looking at the possibility of providing a for
Speaker 1: women who wanted to travel between states if this ROW
Speaker 1: ruling does come down, or if this ruling does come
Speaker 1: down that eliminates ROW, it gives it back to the
Speaker 1: states to choose. It means that men who are in
Speaker 1: states UH that ban abortion, it doesn't mean they can't
Speaker 1: get abortion. It just means they're going to have to travel,
Speaker 1: on some cases the hundreds of miles to receive this
Speaker 1: kind of care. And so the White House is looking
Speaker 1: into ways to see if they can help with that
Speaker 1: process of women who want to getting to other states
Speaker 1: square abortions legal. Thanks as always, Bloomberg. Government reporter Emily
Speaker 1: Wilkins with us from Washington, d C. Looking ahead to
Speaker 1: the market open, looks like another down day with SMP
Speaker 1: futures lower by eighty two points down, futures down five
Speaker 1: thirty six. NASDAC futures are lower by three eighteen points,
Speaker 1: a drop now of two and a half percent. Bloomberg
Speaker 1: Surveillance is straight ahead for Karen Moscow. I'm Nathan Hagar,
Speaker 1: and this is Bloomberg