1 00:00:04,640 --> 00:00:07,920 Speaker 1: Live from the Bloomberg Interactive Bruger Studios. This is Bloomberg 2 00:00:08,039 --> 00:00:11,879 Speaker 1: day Break for Wednesday, July thirteen two. Coming up this hour, 3 00:00:12,360 --> 00:00:16,000 Speaker 1: Wall Street awaits this morning's key report on inflation. Oil 4 00:00:16,040 --> 00:00:20,119 Speaker 1: prices stabilized following yesterday sell off. Twitter fires back in 5 00:00:20,200 --> 00:00:23,239 Speaker 1: its battle with Elon Musk, and we take you to Israel, 6 00:00:23,280 --> 00:00:26,480 Speaker 1: where President Biden begins his Middle East trip. The bolding 7 00:00:26,520 --> 00:00:29,000 Speaker 1: accident in the Hudson River is left to keep people dead. 8 00:00:29,120 --> 00:00:31,680 Speaker 1: Plus a gun rights group is suing New York's assault 9 00:00:31,680 --> 00:00:35,440 Speaker 1: weapons ban. I'm Michael larm More Ahead, I'm John stash 10 00:00:35,479 --> 00:00:38,000 Speaker 1: Own sports the Cincinnati Reds with four of the ninths. 11 00:00:38,040 --> 00:00:40,440 Speaker 1: Don the Yankees sent them to a third strade, loss them. 12 00:00:40,479 --> 00:00:45,839 Speaker 1: That's lost in Atlanta. That's all. S Trady Ahead on 13 00:00:45,920 --> 00:00:49,320 Speaker 1: Bloomberg day Break on Bloomberg eleven, Free on New York, 14 00:00:49,520 --> 00:00:54,160 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 15 00:00:54,440 --> 00:00:58,880 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 16 00:00:59,120 --> 00:01:02,040 Speaker 1: and around the world. Old on Bloomberg Radio Dot Carmen 17 00:01:02,200 --> 00:01:09,480 Speaker 1: via The Bloomberg Business. Good Morning. I'm Nathan Hager, and 18 00:01:09,520 --> 00:01:13,240 Speaker 1: I'm Karen Moscow. US DOT Index futures are higher this morning. 19 00:01:13,240 --> 00:01:14,959 Speaker 1: We're coming up to six o one on Wall Street, 20 00:01:14,959 --> 00:01:17,120 Speaker 1: and we checked the markets every fifteen minutes throughout the 21 00:01:17,160 --> 00:01:20,320 Speaker 1: trading day on Bloomberg guess in P futures of nine 22 00:01:20,360 --> 00:01:23,399 Speaker 1: points down, futures up sixty three, and NAZAC futures at 23 00:01:23,400 --> 00:01:26,000 Speaker 1: thirty five. The decks in Germany is down about three 24 00:01:26,080 --> 00:01:29,319 Speaker 1: quarters of a percent. Ten year treasury up to thirty seconds, 25 00:01:29,360 --> 00:01:31,800 Speaker 1: the yale two point nine five percent, and the yield 26 00:01:31,880 --> 00:01:35,040 Speaker 1: on the two year three point oh four percent. The 27 00:01:35,200 --> 00:01:38,040 Speaker 1: euro is at one point zero zero three eight against 28 00:01:38,120 --> 00:01:41,000 Speaker 1: the dollar. The yen is at one thirty seven point 29 00:01:41,080 --> 00:01:43,720 Speaker 1: oh eight, and looking at bitcoin this morning, it's higher. 30 00:01:43,800 --> 00:01:47,160 Speaker 1: It's at nineteen thousand is seven hundred and ninety dollars. 31 00:01:47,280 --> 00:01:50,120 Speaker 1: Nathan Well, Karen, we begin with the big inflation report 32 00:01:50,160 --> 00:01:52,200 Speaker 1: Wall Streets bracing four. In about two and a half 33 00:01:52,240 --> 00:01:55,320 Speaker 1: hours from Washington, the government will issue the Consumer Price 34 00:01:55,400 --> 00:01:58,600 Speaker 1: Index for June. It's expected to show no let up 35 00:01:58,640 --> 00:02:02,680 Speaker 1: on inflation. Amy Morris has more from our bloombergs room 36 00:02:02,720 --> 00:02:06,160 Speaker 1: in Washington. May CPI rose eight point six percent year 37 00:02:06,200 --> 00:02:09,560 Speaker 1: over year, abroad based increase and the largest in forty years. 38 00:02:09,919 --> 00:02:12,359 Speaker 1: June's reading could be even higher based on a survey 39 00:02:12,440 --> 00:02:15,640 Speaker 1: of Wall Street economists. At the same time, Blueberg Economics 40 00:02:15,639 --> 00:02:18,800 Speaker 1: says today's report will be balanced by recent evidence that 41 00:02:18,880 --> 00:02:22,280 Speaker 1: inflation as well as economic growth may be moderating. The 42 00:02:22,280 --> 00:02:25,079 Speaker 1: Federal Reserve is expected to keep raising interest rates to 43 00:02:25,120 --> 00:02:29,119 Speaker 1: contain inflation by tempering economic growth. In Washington, I'm any 44 00:02:29,160 --> 00:02:32,040 Speaker 1: more as Bloomberg daybreak, heymy thank you. The tom priority 45 00:02:32,040 --> 00:02:35,160 Speaker 1: for the Federal Reserve has curbing inflation, and Richmond Fed 46 00:02:35,200 --> 00:02:38,400 Speaker 1: President Thomas Barkin sees another fifty or seventy five basis 47 00:02:38,400 --> 00:02:40,920 Speaker 1: point rate high coming this month. We're engaged in a 48 00:02:41,000 --> 00:02:44,959 Speaker 1: very challenging exercise, which is m to try to cool 49 00:02:45,000 --> 00:02:47,840 Speaker 1: the economy down to normal levels right in an effort 50 00:02:47,840 --> 00:02:50,600 Speaker 1: to bring inflation out of under control, but without the 51 00:02:50,600 --> 00:02:54,600 Speaker 1: intent of trying to cool it so down that that 52 00:02:54,600 --> 00:02:57,240 Speaker 1: that the decline is calamitous. The right policies to get 53 00:02:57,240 --> 00:03:00,960 Speaker 1: inflation under control. Richmond Fed President Thomas Barkin says today's 54 00:03:00,960 --> 00:03:03,960 Speaker 1: CPI reading will inform the Central banks next move. He 55 00:03:04,080 --> 00:03:05,959 Speaker 1: is not a voter around this year's rate setting. F 56 00:03:06,040 --> 00:03:08,679 Speaker 1: O m C will higher. Gas and oil prices have 57 00:03:08,760 --> 00:03:11,200 Speaker 1: been a major contributor to price spike's Karen, and today 58 00:03:11,240 --> 00:03:15,080 Speaker 1: we're seeing crude higher following yesterday's nearly eight percent decline. 59 00:03:15,400 --> 00:03:18,520 Speaker 1: This morning, the International Energy Agency warns that oil prices 60 00:03:18,560 --> 00:03:21,320 Speaker 1: pose a high risk to the global economic recovery, with 61 00:03:21,400 --> 00:03:23,640 Speaker 1: signs that fuel costs are starting to take their toll 62 00:03:23,960 --> 00:03:26,960 Speaker 1: on demand growth. Right now, West Texas intermediate crudes up 63 00:03:27,040 --> 00:03:30,760 Speaker 1: six six tenths percent, sixty cents higher at ninety six 64 00:03:31,120 --> 00:03:34,120 Speaker 1: forty three cents of Arrol Well Nathan. A sergein gasoline 65 00:03:34,160 --> 00:03:36,640 Speaker 1: prices this year has Americans changing their minds on the 66 00:03:36,680 --> 00:03:39,160 Speaker 1: next car they will drive, and we get the details 67 00:03:39,160 --> 00:03:42,440 Speaker 1: around Bloomberry se Lisa Mateo. According to a survey by 68 00:03:42,440 --> 00:03:46,119 Speaker 1: the American Automobile Association, a quarter of Americans say their 69 00:03:46,160 --> 00:03:48,920 Speaker 1: next car will be an electric vehicle. More than three 70 00:03:49,000 --> 00:03:51,520 Speaker 1: fourths of them say their interest is driven by a 71 00:03:51,600 --> 00:03:54,720 Speaker 1: desire to save on fuel costs. Gas prices, which have 72 00:03:54,800 --> 00:03:57,120 Speaker 1: come down this month, reached a record five dollars and 73 00:03:57,160 --> 00:04:00,240 Speaker 1: two cents a gallon in June. Millennials are the most 74 00:04:00,240 --> 00:04:03,440 Speaker 1: eager to electrify their ride, with thirty percent saying they 75 00:04:03,480 --> 00:04:06,480 Speaker 1: planned to buy an EV next Last year, only three 76 00:04:06,480 --> 00:04:09,960 Speaker 1: point two percent of US vehicles for E vs. Lisa 77 00:04:09,960 --> 00:04:13,560 Speaker 1: Matteo Bloomberg Daybreak. Al Right, Lisa, thanks. Let's turn to 78 00:04:13,600 --> 00:04:17,040 Speaker 1: corporate news now, where Twitter is escalating its battle with 79 00:04:17,080 --> 00:04:20,400 Speaker 1: Elon Musk. For the details were joined live by Bloomberg's 80 00:04:20,400 --> 00:04:23,160 Speaker 1: Rene A Young. Good morning, Na, Good morning, Nathan. Twitter 81 00:04:23,320 --> 00:04:26,479 Speaker 1: is suing Elon Musk after he abandoned his forty four 82 00:04:26,520 --> 00:04:29,800 Speaker 1: billion dollar takeover bid, and the company is accusing him 83 00:04:29,839 --> 00:04:34,040 Speaker 1: of having buyer's remorse after his fortune declined. Twitter lawyers 84 00:04:34,080 --> 00:04:37,000 Speaker 1: say Musk should be forced to honor his agreement. The 85 00:04:37,080 --> 00:04:40,320 Speaker 1: lawsuit says that Twitter has bent over backwards to provide 86 00:04:40,360 --> 00:04:43,960 Speaker 1: him with the information he's requested. Musk has been disputing 87 00:04:44,000 --> 00:04:47,320 Speaker 1: claims that Twitter has less than five percent of its 88 00:04:47,400 --> 00:04:50,840 Speaker 1: users as bots and wanted more proof, but he ultimately 89 00:04:50,880 --> 00:04:54,560 Speaker 1: abandoned the deal partially because of those concerns. This filing 90 00:04:54,720 --> 00:04:57,640 Speaker 1: is setting up what will be the closely watched battle 91 00:04:57,720 --> 00:05:00,880 Speaker 1: in the Delaware court system. Life, New York. I'm really 92 00:05:00,880 --> 00:05:03,240 Speaker 1: need a Young Bloomberg day Break. I need to thank you. 93 00:05:03,360 --> 00:05:06,719 Speaker 1: Turning to politics now, It's all about geo politics. President 94 00:05:06,760 --> 00:05:11,000 Speaker 1: Biden submittast trip is underway. His first off Israel Bloomberg's 95 00:05:11,040 --> 00:05:13,520 Speaker 1: and Marie Hordern is traveling with the President and final 96 00:05:13,600 --> 00:05:17,320 Speaker 1: dis report from Jerusalem. Don't expect any major breakthroughs when 97 00:05:17,360 --> 00:05:19,880 Speaker 1: it comes to the United States and the Israeli government. 98 00:05:20,080 --> 00:05:23,279 Speaker 1: It recently collapse and they're looking ahead to elections in November. 99 00:05:23,640 --> 00:05:26,840 Speaker 1: One key focus of this administration has been to normalize 100 00:05:26,880 --> 00:05:30,200 Speaker 1: more Arab countries with Israel, and a key focus in 101 00:05:30,240 --> 00:05:32,800 Speaker 1: a country to watch out for Saudi Arabia. But there 102 00:05:32,839 --> 00:05:36,480 Speaker 1: won't be any massive breakthroughs when it comes to dialogue 103 00:05:36,560 --> 00:05:39,840 Speaker 1: or peace talks with the Kingdom, but potentially more Saudi 104 00:05:39,880 --> 00:05:43,760 Speaker 1: airspace being open to more Israeli flights. The President himself 105 00:05:43,800 --> 00:05:45,880 Speaker 1: will be one of them, the first president United States 106 00:05:45,920 --> 00:05:49,120 Speaker 1: to fly from Israel to Jetta. Later in the week, 107 00:05:49,400 --> 00:05:52,760 Speaker 1: the President is backtracking on a campaign promise to make 108 00:05:52,800 --> 00:05:55,200 Speaker 1: the Kingdom of Priyah, but at home he needs the 109 00:05:55,200 --> 00:05:57,240 Speaker 1: Saudi's help to put more oil on the market to 110 00:05:57,279 --> 00:06:02,279 Speaker 1: bring gasoline prices down in Jerusalem. I'm a Hordern Bloomberg News, Okay, 111 00:06:02,279 --> 00:06:04,279 Speaker 1: and Marie, thank you. Back here in the US, the 112 00:06:04,279 --> 00:06:08,080 Speaker 1: political focus remains on Capitol Hill. The House January sixth 113 00:06:08,120 --> 00:06:12,040 Speaker 1: Committee says it's investigating the possibility that former President Donald 114 00:06:12,080 --> 00:06:16,040 Speaker 1: Trump directly tried to contact a witness, Bloomberg said, Baxter 115 00:06:16,200 --> 00:06:19,920 Speaker 1: has the story. The potentially explosive announcement by Committee Vice 116 00:06:20,000 --> 00:06:23,480 Speaker 1: Chairless Chaney was saved for the end. After our last hearing, 117 00:06:23,960 --> 00:06:28,360 Speaker 1: President Trump tried to call a witness in our investigation, 118 00:06:28,920 --> 00:06:32,000 Speaker 1: a witness you have not yet seen in these hearings. 119 00:06:32,760 --> 00:06:37,080 Speaker 1: That person declined to answer or respond to President Trump's 120 00:06:37,160 --> 00:06:40,120 Speaker 1: call and turned over the evidence to an attorney, who 121 00:06:40,200 --> 00:06:43,640 Speaker 1: in turn contact of the committee. Chaney says, Now it 122 00:06:43,680 --> 00:06:45,599 Speaker 1: has been turned over to the d o J for 123 00:06:45,680 --> 00:06:49,880 Speaker 1: possible charges of tampering with a witness in San Francisco. 124 00:06:49,920 --> 00:06:52,280 Speaker 1: I'm at Baxter Bloomberg daybreak, all right, and thank you. 125 00:06:52,480 --> 00:06:55,400 Speaker 1: SMP futures are higher, up about nine points this morning. 126 00:06:55,400 --> 00:06:58,800 Speaker 1: Down futures up sixty two and nasday futures up thirty four. 127 00:06:58,960 --> 00:07:01,240 Speaker 1: The decks in Germany is down about eight tens of 128 00:07:01,360 --> 00:07:04,720 Speaker 1: uppercent ten year treasury up three thirty seconds, held two 129 00:07:04,720 --> 00:07:07,000 Speaker 1: point nine five percent, and they yield on the two 130 00:07:07,120 --> 00:07:09,800 Speaker 1: year three point oh three percent. And again n I 131 00:07:09,920 --> 00:07:12,440 Speaker 1: make screwed. Oil is up three quarters of a percent. 132 00:07:12,880 --> 00:07:15,800 Speaker 1: Straight ahead or latest local headlines plus a check of 133 00:07:15,960 --> 00:07:24,200 Speaker 1: sports and this is Bloomberg. Thanks caring at six oh 134 00:07:24,240 --> 00:07:26,560 Speaker 1: seven on Wall Street, where as seventy five degrees in 135 00:07:26,640 --> 00:07:29,200 Speaker 1: Central Park dealing with an accident still on the South 136 00:07:29,360 --> 00:07:32,320 Speaker 1: New York State three wave hast eggs at sixteen. Details 137 00:07:32,360 --> 00:07:35,760 Speaker 1: coming up in traffic. First. Michael Barr details on an 138 00:07:35,800 --> 00:07:39,440 Speaker 1: accident on the Hudson River. Michael, it was a tragic afternoon. 139 00:07:39,520 --> 00:07:42,240 Speaker 1: At least two are dead and ten injured after a 140 00:07:42,320 --> 00:07:45,880 Speaker 1: boat capsized in New York City Sudson River. The cause 141 00:07:45,920 --> 00:07:48,400 Speaker 1: of the accident is under investigation, but the twenty seven 142 00:07:48,400 --> 00:07:51,320 Speaker 1: foot private boat was in calm waters when it went 143 00:07:51,360 --> 00:07:54,800 Speaker 1: down near Midtown Manhattan. New York City Mayor Eric Adams 144 00:07:54,800 --> 00:07:57,960 Speaker 1: called a devastating moment for the city. Between New York 145 00:07:57,960 --> 00:08:03,760 Speaker 1: Waterway Harbor f and gals who participated a week clearly 146 00:08:03,880 --> 00:08:08,480 Speaker 1: saved live. New York Fire Commissioner Laura Kevanah spoke about 147 00:08:08,520 --> 00:08:11,160 Speaker 1: the conditions of the others. Are two New Yorker is 148 00:08:11,200 --> 00:08:14,880 Speaker 1: in critical condition in the hospitals and an additional New 149 00:08:14,960 --> 00:08:18,120 Speaker 1: Yorker who is stable the critical at the hospital at 150 00:08:18,160 --> 00:08:21,480 Speaker 1: this time. We also have eight additional patients who are 151 00:08:21,600 --> 00:08:25,480 Speaker 1: green tags and are in stable condition. Fire Commissioner Laura Kevanagh. 152 00:08:25,520 --> 00:08:28,840 Speaker 1: The boat was charted by a group of family and friends. 153 00:08:29,280 --> 00:08:32,840 Speaker 1: The January six panel revealed Donald Trump fought objections from 154 00:08:32,880 --> 00:08:36,120 Speaker 1: his White House lawyers to a plan eventually discarded to 155 00:08:36,280 --> 00:08:41,120 Speaker 1: see states voting machines. The panel says, then Trump summoned 156 00:08:41,160 --> 00:08:44,240 Speaker 1: supporters to march on the US capital, but we're turned 157 00:08:44,240 --> 00:08:48,480 Speaker 1: into the deadly riot. Former oath Keepers spokesman Jason van 158 00:08:48,559 --> 00:08:52,640 Speaker 1: Tatanhoef testified he wants more accountability. There was a gallows 159 00:08:52,679 --> 00:08:55,640 Speaker 1: set up in front of the capital. This could have 160 00:08:55,679 --> 00:08:59,040 Speaker 1: been the spark that started a new civil war and 161 00:08:59,120 --> 00:09:02,520 Speaker 1: no one would have won there. That would have been 162 00:09:02,559 --> 00:09:07,160 Speaker 1: good for no one. Former oath Keeper Jason van Teytenhof 163 00:09:07,320 --> 00:09:09,800 Speaker 1: says that he's worried about what will happen if Trump 164 00:09:09,840 --> 00:09:14,240 Speaker 1: is reelected. Local media and Texas released edited surveillance videos 165 00:09:14,240 --> 00:09:17,439 Speaker 1: showing law enforcement and Voldi waiting more than an hour 166 00:09:17,760 --> 00:09:20,880 Speaker 1: to take action after our gunmen enter the broad Elementary school, 167 00:09:21,120 --> 00:09:25,200 Speaker 1: killing nineteen children and two teachers. Police officers are seen 168 00:09:25,280 --> 00:09:27,600 Speaker 1: in the video waiting in the hallway during the massacre. 169 00:09:27,920 --> 00:09:30,880 Speaker 1: According to CNN, one leaked segment of the video shows 170 00:09:30,880 --> 00:09:33,360 Speaker 1: the gunman entering the school and walking down the hallway 171 00:09:33,440 --> 00:09:36,920 Speaker 1: with a long rifle. The recording also shows officers approaching 172 00:09:36,920 --> 00:09:39,719 Speaker 1: the classroom that the shooter was in, but then retreating 173 00:09:39,760 --> 00:09:43,040 Speaker 1: down the hallway and taking cover when gunfire is heard. 174 00:09:43,360 --> 00:09:46,319 Speaker 1: A gun rights group sued to overturn New York's assault 175 00:09:46,320 --> 00:09:48,520 Speaker 1: weapons ban less than a month after the U. S. 176 00:09:48,520 --> 00:09:51,080 Speaker 1: Supreme Court struck down a related state law that limited 177 00:09:51,080 --> 00:09:53,920 Speaker 1: who could carry a handgun in public. According to the 178 00:09:53,920 --> 00:09:57,360 Speaker 1: fire Arms Policy Coalition, the assault weapons band violates the 179 00:09:57,400 --> 00:10:00,040 Speaker 1: Second Amendment. Global News twenty four hours a day on 180 00:10:00,120 --> 00:10:03,400 Speaker 1: their end on Bloomberg Quick Take, powered by more than journalists, 181 00:10:03,440 --> 00:10:05,760 Speaker 1: analysts more than a hundred twenty countries on Michael bar 182 00:10:05,880 --> 00:10:13,040 Speaker 1: this is Bloomberg Naked. Thank you, Michael. Almost six cent 183 00:10:13,080 --> 00:10:15,120 Speaker 1: on Wall Street. Time for the Bloomberg Sports Update with 184 00:10:15,200 --> 00:10:17,480 Speaker 1: John Stenshown all right, Nathan. So many bright spots to 185 00:10:17,559 --> 00:10:20,000 Speaker 1: this Yankee season, Maybe none brighter than the picture than 186 00:10:20,000 --> 00:10:23,000 Speaker 1: reliever Clay Holmes, acquired a year ago from Pittsburgh. Holmes 187 00:10:23,040 --> 00:10:25,600 Speaker 1: gave up a run on opening Day and then didn't 188 00:10:25,600 --> 00:10:27,559 Speaker 1: give up another run for the next two and a 189 00:10:27,600 --> 00:10:29,640 Speaker 1: half months for the Red Sox. Did get a big 190 00:10:29,679 --> 00:10:32,160 Speaker 1: hit off him last weekend and one of those comeback wins. 191 00:10:32,160 --> 00:10:34,480 Speaker 1: And last night at the Stadium against the lowly Reds, 192 00:10:34,840 --> 00:10:37,760 Speaker 1: Holmes suddenly couldn't get anyone out. A walk, I hit, 193 00:10:37,800 --> 00:10:40,719 Speaker 1: a hit batsman, another single, another hit by pitch, and 194 00:10:40,760 --> 00:10:43,679 Speaker 1: he was taken out. Jonathan India with two outs of 195 00:10:43,720 --> 00:10:45,640 Speaker 1: the ninth, delivered the game winning two runs single off 196 00:10:45,640 --> 00:10:49,319 Speaker 1: Wanda Peralta. Cincinnati with four and the ninth stunned the 197 00:10:49,360 --> 00:10:51,240 Speaker 1: Yankees four to three, and the Yanks have now lost 198 00:10:51,280 --> 00:10:53,440 Speaker 1: three in a row, blown leads in all three. It's 199 00:10:53,440 --> 00:10:55,520 Speaker 1: only their second three game losing Street. The other was 200 00:10:55,559 --> 00:10:58,560 Speaker 1: back in May. Mets in Atlanta had just five hits, 201 00:10:58,600 --> 00:11:00,440 Speaker 1: lost four to one. Is Matt Oles sending a two 202 00:11:00,520 --> 00:11:03,480 Speaker 1: run homers six getting off David Peterson, Adam Duvall two 203 00:11:03,520 --> 00:11:05,760 Speaker 1: run shot and then later on Seth Lugo the series 204 00:11:05,800 --> 00:11:08,760 Speaker 1: in it. This afternoon, the Orioles one again they beat 205 00:11:08,760 --> 00:11:11,120 Speaker 1: the Cubs. That's nine wins in a row. The Orioles 206 00:11:11,120 --> 00:11:15,160 Speaker 1: have reached five hundred one and fifty Open Championship T's 207 00:11:15,160 --> 00:11:18,600 Speaker 1: off tomorrow. Historic st Andrew's most of Tiger Woods as 208 00:11:18,600 --> 00:11:21,720 Speaker 1: presser yesterday, where his thoughts about the new Live tour. 209 00:11:21,840 --> 00:11:26,640 Speaker 1: He's not a fan. I disagree with it. UM. I 210 00:11:26,720 --> 00:11:30,719 Speaker 1: think that what they've done is they've they've turned our 211 00:11:30,880 --> 00:11:33,480 Speaker 1: their back on what has allowed them to get to 212 00:11:33,520 --> 00:11:38,080 Speaker 1: this position. Um. Some players have never got a chance 213 00:11:38,080 --> 00:11:41,920 Speaker 1: to even experience it. Taggarts off tomorrow at ten eastern. 214 00:11:41,920 --> 00:11:44,720 Speaker 1: He's playing with the US Open JAMP Matt Fitzpatrick, John 215 00:11:44,720 --> 00:11:48,840 Speaker 1: stash Award Bloomberg Sports Thanks John smp futures up eight points, 216 00:11:48,840 --> 00:11:51,840 Speaker 1: Stown features of fifty eight, nastacks features up thirty two points. 217 00:11:51,840 --> 00:11:54,120 Speaker 1: This red headline just across the Bloomberg terminal, traders are 218 00:11:54,120 --> 00:11:56,760 Speaker 1: now fully pricing in a seventy five basis point rate 219 00:11:56,840 --> 00:12:00,960 Speaker 1: hike in July ahead of June cp HI. We check 220 00:12:01,000 --> 00:12:04,320 Speaker 1: in next with Bloomberg Economics correspondent Michael McKey. This is 221 00:12:04,320 --> 00:12:10,240 Speaker 1: Bloomberg Bloomberg eleven three oh weather partly mostly sunny today 222 00:12:10,240 --> 00:12:13,679 Speaker 1: with behind your ninety degrees afternoon showers and storms, fossil tomorrow, 223 00:12:13,760 --> 00:12:17,000 Speaker 1: upper eighties, mix of sun and clouds. Upper eighties for Friday. 224 00:12:17,080 --> 00:12:23,280 Speaker 1: Right now seventy five degrees in central Park Markets. Headlines 225 00:12:23,320 --> 00:12:26,319 Speaker 1: and breaking news twenty four hours a day at Bloomberg 226 00:12:26,400 --> 00:12:29,760 Speaker 1: dot Com. The Bloomberg Business out and at Bloomberg Quick Tape, 227 00:12:30,320 --> 00:12:39,400 Speaker 1: He's a Bloomberg Business flash and I'm Karin Moscow. U 228 00:12:39,440 --> 00:12:42,320 Speaker 1: stock index future is moving higher this morning, while stocks 229 00:12:42,320 --> 00:12:45,040 Speaker 1: and your updip and cautious trading is dominated by a 230 00:12:45,120 --> 00:12:47,839 Speaker 1: dimming economic outlook and an anxious wait for data that 231 00:12:47,920 --> 00:12:51,400 Speaker 1: may show US inflation at a fresh four decade high. 232 00:12:51,480 --> 00:12:54,280 Speaker 1: That CPI report is due out at a thirty Wall 233 00:12:54,320 --> 00:12:57,360 Speaker 1: Street time this morning. Right now is and P futures 234 00:12:57,360 --> 00:12:59,360 Speaker 1: are up nine points of our future is up sixty 235 00:12:59,400 --> 00:13:01,520 Speaker 1: two and now stay future is of thirty seven and 236 00:13:01,600 --> 00:13:04,240 Speaker 1: the Dacks in Germany is down nine tenths of a percent. 237 00:13:04,640 --> 00:13:07,320 Speaker 1: Pen your treasury of three thirty seconds, the yield two 238 00:13:07,400 --> 00:13:10,080 Speaker 1: point nine five percent. That yield on the two year 239 00:13:10,160 --> 00:13:13,240 Speaker 1: three point oh three nine mix. Frude oil is up 240 00:13:13,280 --> 00:13:15,760 Speaker 1: nine tenths percent or eighty cents at ninety six dollars 241 00:13:15,800 --> 00:13:18,800 Speaker 1: sixty four cents of barrel. Comex school this it'll change 242 00:13:18,800 --> 00:13:21,800 Speaker 1: at seventeen twenty six and ounce. The euro is at 243 00:13:21,800 --> 00:13:24,840 Speaker 1: one point zero zero four zero against the dollar, British 244 00:13:24,840 --> 00:13:27,839 Speaker 1: found one point one eight nine nine and again one 245 00:13:27,880 --> 00:13:31,000 Speaker 1: thirty seven point one four and bitcoins higher up one 246 00:13:31,000 --> 00:13:34,840 Speaker 1: point seven percent at nineteen thousand, seven hundred sixty dollars. 247 00:13:35,080 --> 00:13:37,880 Speaker 1: And that's a Bloomberg business flash. Now here's Michael Barrow 248 00:13:37,920 --> 00:13:41,080 Speaker 1: with more unless going on around the world. Michael Karen, 249 00:13:41,080 --> 00:13:43,720 Speaker 1: thank you very much. January six. Committee Vice cheer Liz 250 00:13:43,800 --> 00:13:46,680 Speaker 1: Cheney revealed at the close of yesterday's hearing that former 251 00:13:46,720 --> 00:13:49,800 Speaker 1: President Trump tried to call a witness in the investigation, 252 00:13:50,200 --> 00:13:53,760 Speaker 1: and that the committee has notified the Justice Department. Also, 253 00:13:53,880 --> 00:13:57,680 Speaker 1: former White House Council Patsypaloni testified a special order was 254 00:13:57,760 --> 00:14:00,880 Speaker 1: drafted in December that would allow the Defense Department to 255 00:14:00,920 --> 00:14:04,840 Speaker 1: see voting machines. Military officials from Russia and Ukraine are 256 00:14:04,840 --> 00:14:08,040 Speaker 1: set to hold their government's first phase to face talks 257 00:14:08,120 --> 00:14:11,000 Speaker 1: in months. They're meeting in Istan Bowlder discuss a U 258 00:14:11,120 --> 00:14:15,000 Speaker 1: n plan to export blocked Ukrainian grain to world markets 259 00:14:15,040 --> 00:14:18,240 Speaker 1: through the black Seat. In baseball, the Yankees and Mets lost. 260 00:14:18,280 --> 00:14:21,000 Speaker 1: Also in the losing column, the Red Sox, the orioles 261 00:14:21,000 --> 00:14:23,680 Speaker 1: As and Giants won global news twenty four hours a 262 00:14:23,760 --> 00:14:25,960 Speaker 1: day on air and on Bloomberg Quick Take power by 263 00:14:26,000 --> 00:14:29,160 Speaker 1: more than journalists and analysts more than a hundred twenty countries. 264 00:14:29,480 --> 00:14:32,680 Speaker 1: Michael Barr this is Bloomberg. Nathan, Yes, it is Michael, 265 00:14:32,680 --> 00:14:34,840 Speaker 1: Thank you. It is six nineteen on Wall Street live 266 00:14:34,880 --> 00:14:38,720 Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak 267 00:14:38,760 --> 00:14:41,040 Speaker 1: at six nineteen means we are about two hours and 268 00:14:41,200 --> 00:14:43,880 Speaker 1: eleven minutes a give a take from the release of 269 00:14:43,920 --> 00:14:47,360 Speaker 1: the June Consumer Price Index, what is likely to be 270 00:14:47,440 --> 00:14:51,040 Speaker 1: another historically high read for inflation, and we're joined by 271 00:14:51,200 --> 00:14:54,760 Speaker 1: Bloomberg Economics correspondent Michael McKee and Mike I know you 272 00:14:54,840 --> 00:14:59,160 Speaker 1: saw that now traders are fully pricing in three quarter 273 00:14:59,200 --> 00:15:02,560 Speaker 1: percentage point rate hikes at the July meeting. Sounds like 274 00:15:02,640 --> 00:15:06,000 Speaker 1: the market has made its decision on just how hot 275 00:15:06,040 --> 00:15:09,840 Speaker 1: this inflation print is gonna be. I think that's the case. 276 00:15:10,320 --> 00:15:12,920 Speaker 1: Most FETE officials are sticking to their predictions because a 277 00:15:12,920 --> 00:15:15,400 Speaker 1: lot of them have been out saying seventy in July, 278 00:15:15,880 --> 00:15:18,160 Speaker 1: so we haven't really seen any backing off from that. 279 00:15:18,360 --> 00:15:21,000 Speaker 1: And I think one of the reasons is the increase 280 00:15:21,000 --> 00:15:23,600 Speaker 1: in the CPI for the month of June is so 281 00:15:23,680 --> 00:15:26,800 Speaker 1: widely anticipated. Most of it's going to be driven by 282 00:15:26,920 --> 00:15:30,680 Speaker 1: gasoline prices in the headline, and people know that's out there. 283 00:15:30,960 --> 00:15:34,000 Speaker 1: The question is, what does the core look like. In 284 00:15:34,000 --> 00:15:36,000 Speaker 1: other words, what does it look like if you take 285 00:15:36,040 --> 00:15:39,640 Speaker 1: out gasoline and food prices and what's the month over 286 00:15:39,760 --> 00:15:42,960 Speaker 1: month change? Are we hanging in there? Are we starting 287 00:15:42,960 --> 00:15:45,320 Speaker 1: to see improvement on a month over month basis that 288 00:15:45,400 --> 00:15:48,960 Speaker 1: doesn't isn't reflected in the headline because of base effects. Uh, 289 00:15:49,040 --> 00:15:51,160 Speaker 1: that's what the fet is gonna want to know. They're 290 00:15:51,160 --> 00:15:54,520 Speaker 1: gonna worry about maybe an accidental going over nine percent 291 00:15:54,640 --> 00:15:58,880 Speaker 1: because they don't want inflation expectations to get entrenched. But 292 00:15:59,040 --> 00:16:02,920 Speaker 1: they are going to watch the monthly change to see 293 00:16:03,200 --> 00:16:06,840 Speaker 1: the progression of inflation. That's certainly what matters to the FED. 294 00:16:06,960 --> 00:16:10,960 Speaker 1: The core cp I, and you look at the expectations 295 00:16:11,000 --> 00:16:13,400 Speaker 1: on the ECO screen on the Bloomberg terminal, it sounds 296 00:16:13,440 --> 00:16:17,080 Speaker 1: like economists are thinking, we're gonna see, uh slight drop 297 00:16:17,200 --> 00:16:19,560 Speaker 1: in core cp I. What signs are you looking at 298 00:16:19,560 --> 00:16:23,080 Speaker 1: that could point to where things are going in terms 299 00:16:23,240 --> 00:16:28,720 Speaker 1: of inflation outside those more volatile food and gas sectors. Well, 300 00:16:28,720 --> 00:16:31,080 Speaker 1: we know that used car prices at a wholesale level 301 00:16:31,120 --> 00:16:33,520 Speaker 1: have gone down over the past month and a half 302 00:16:33,640 --> 00:16:37,200 Speaker 1: of the Mannheim reports suggests that used car prices will 303 00:16:37,240 --> 00:16:40,240 Speaker 1: have backed off, and that was a big driver during 304 00:16:40,320 --> 00:16:43,280 Speaker 1: the months coming out of the pandemic because there were 305 00:16:43,320 --> 00:16:46,600 Speaker 1: no cars to sell, so that would be good news. 306 00:16:46,960 --> 00:16:50,440 Speaker 1: It's a reasonably large enough category. And also we know 307 00:16:50,480 --> 00:16:54,840 Speaker 1: that inventories are very bloated, so consumer discretionary items, apparel 308 00:16:54,840 --> 00:16:59,800 Speaker 1: in particular, maybe some other things might actually have seen 309 00:17:00,000 --> 00:17:03,680 Speaker 1: a price decreases, retailer's discount trying to get rid of 310 00:17:03,680 --> 00:17:07,360 Speaker 1: this stuff. What does this number mean in terms of 311 00:17:07,440 --> 00:17:11,320 Speaker 1: the rate path going forward? Obviously we mentioned that money 312 00:17:11,359 --> 00:17:15,119 Speaker 1: markets are pricing in seventy basis points this month, what 313 00:17:15,200 --> 00:17:18,760 Speaker 1: about subsequent months? I mean, does backward looking data like 314 00:17:18,840 --> 00:17:20,680 Speaker 1: this really matter? What's the Fed going to be looking 315 00:17:20,680 --> 00:17:23,879 Speaker 1: at going forward? Well, the reason it really matters is 316 00:17:23,920 --> 00:17:27,400 Speaker 1: because of consumer expectations. If people start to get entrenched 317 00:17:27,400 --> 00:17:30,360 Speaker 1: in their mind that inflation is always going to go up, 318 00:17:30,880 --> 00:17:33,199 Speaker 1: then that makes it much harder for the Fed to 319 00:17:33,320 --> 00:17:35,800 Speaker 1: get rid of inflation to help bring it down. So 320 00:17:35,880 --> 00:17:38,919 Speaker 1: it will matter in that sense. But the question that 321 00:17:38,960 --> 00:17:43,199 Speaker 1: arises immediately at eight thirty one Eastern time this morning 322 00:17:43,480 --> 00:17:46,720 Speaker 1: after the release is what is the Fed going to 323 00:17:46,760 --> 00:17:49,520 Speaker 1: do at the September meeting. That's what matters to Wall Street, 324 00:17:50,000 --> 00:17:53,960 Speaker 1: and no, this UM release probably won't have a major 325 00:17:54,080 --> 00:17:57,240 Speaker 1: impact on that. It'll start people thinking about it. But 326 00:17:57,320 --> 00:18:00,240 Speaker 1: we'll get August and September CPI numbers before where the 327 00:18:00,240 --> 00:18:02,880 Speaker 1: Fed meets again, and so we'll have a much better 328 00:18:02,920 --> 00:18:06,280 Speaker 1: idea of the progression of inflation. And of course, uh, 329 00:18:06,480 --> 00:18:09,200 Speaker 1: I don't know if if you've noticed on your daily commutes, 330 00:18:09,280 --> 00:18:14,520 Speaker 1: but the gasoline prices have been coming down now for weeks. Yeah, 331 00:18:14,560 --> 00:18:18,640 Speaker 1: that's right about for seventy I think, is what I've 332 00:18:18,680 --> 00:18:21,520 Speaker 1: seen around my area. Anyway, I've got about a minute 333 00:18:21,560 --> 00:18:23,600 Speaker 1: left here, and I know you weren't thrown by this, 334 00:18:23,680 --> 00:18:26,919 Speaker 1: but before street time this morning, we got a fake 335 00:18:27,200 --> 00:18:32,040 Speaker 1: cp I print that made the rounds online yesterday. Is 336 00:18:32,320 --> 00:18:35,159 Speaker 1: fake news, just gonna be with us when it comes 337 00:18:35,200 --> 00:18:41,320 Speaker 1: to eco data. It seems like it was unusual that 338 00:18:41,440 --> 00:18:45,840 Speaker 1: this happened because HICO data is not usually something that 339 00:18:46,440 --> 00:18:51,760 Speaker 1: people care about. They do now and they you know, 340 00:18:51,920 --> 00:18:54,720 Speaker 1: maybe it was an attempt by somebody to game the markets, 341 00:18:54,840 --> 00:18:59,800 Speaker 1: but it quickly fell apart, So I'm not sure whether 342 00:19:00,160 --> 00:19:02,480 Speaker 1: somebody else will try again. But you always have to 343 00:19:02,480 --> 00:19:05,840 Speaker 1: be careful. And uh, you know what, Bloomberg will verify 344 00:19:05,880 --> 00:19:08,880 Speaker 1: anything that goes out before we set it out. Yeah, 345 00:19:09,040 --> 00:19:12,880 Speaker 1: when we verify that their fake stories are out there 346 00:19:13,119 --> 00:19:16,440 Speaker 1: and post stories about that to let you know that 347 00:19:16,720 --> 00:19:20,560 Speaker 1: the real stuff comes eight thirty Wall Street Time, as 348 00:19:20,640 --> 00:19:24,680 Speaker 1: usual from the Bureau of Labor Statistics. Bloomberg Economics correspondent 349 00:19:24,720 --> 00:19:26,960 Speaker 1: Michael McKee, thanks for being with us ahead of the 350 00:19:27,000 --> 00:19:31,240 Speaker 1: release of June's cp I. Looking ahead to the market 351 00:19:31,280 --> 00:19:34,760 Speaker 1: open at nine thirty Wall Street time, SMP futures are 352 00:19:34,800 --> 00:19:37,719 Speaker 1: up eight points, DAL futures up fifty one, NASTAC futures 353 00:19:37,760 --> 00:19:40,800 Speaker 1: higher by thirty five points ten. Your treasury is up 354 00:19:40,800 --> 00:19:43,120 Speaker 1: four thirty seconds, with a yield of two point nine 355 00:19:43,160 --> 00:19:46,400 Speaker 1: five percent, still inverted between twos and tens. The two 356 00:19:46,480 --> 00:19:50,600 Speaker 1: year yield right now three point zero three percent. Nime 357 00:19:50,720 --> 00:19:52,800 Speaker 1: x crew to touch higher, up a half percent, forty 358 00:19:52,840 --> 00:19:55,200 Speaker 1: nine cents higher ninety six dollars, thirty three cents of 359 00:19:55,240 --> 00:20:00,200 Speaker 1: barrel after yesterday's eight percent plunge in crude markets. Much 360 00:20:00,240 --> 00:20:07,880 Speaker 1: more to com. You're listening to Bloomberg Daybreak Ye Bloomberg 361 00:20:07,880 --> 00:20:10,560 Speaker 1: eleven three oh weather sunshine high your ninety today, opper 362 00:20:10,600 --> 00:20:13,640 Speaker 1: eighties tomorrow with a chance drafting in showers and thunderstorms, 363 00:20:14,040 --> 00:20:16,720 Speaker 1: mix of sun and clouds, Oper eights for Friday Right now, 364 00:20:16,760 --> 00:20:24,359 Speaker 1: seventy and sunny in Central Park, broadcasting live from Bloomberg 365 00:20:24,440 --> 00:20:27,920 Speaker 1: Interactive Broker's studio in New York, Bloomberg E Living free 366 00:20:28,280 --> 00:20:31,440 Speaker 1: to Washington, d C, Bloomberg ninety nine one to Boston, 367 00:20:31,520 --> 00:20:34,920 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg Ning 368 00:20:35,000 --> 00:20:37,600 Speaker 1: sixteen to the country, Sirius XM h at A one 369 00:20:37,640 --> 00:20:40,600 Speaker 1: nine te and around the globe to Bloomberg Business at 370 00:20:40,720 --> 00:20:50,600 Speaker 1: and Bloomberg Radio dot com. This is Bloomberg Daybreak six 371 00:20:50,640 --> 00:20:53,359 Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Hagar and 372 00:20:53,400 --> 00:20:56,160 Speaker 1: I'm Karen Moscow. We're just about three hours away from 373 00:20:56,200 --> 00:20:58,320 Speaker 1: the open of US trading. Time to the five things 374 00:20:58,320 --> 00:21:00,359 Speaker 1: that you need to notice Dark your day. Brought to 375 00:21:00,440 --> 00:21:04,720 Speaker 1: you by Interactive Brokers. Interactive Brokers charges margin loan rates 376 00:21:04,760 --> 00:21:07,439 Speaker 1: from two point eight percent to three point eight percent, 377 00:21:07,760 --> 00:21:09,879 Speaker 1: rates subject to change. Learn more at I b k 378 00:21:10,080 --> 00:21:13,480 Speaker 1: R dot com. Slash compare first, who began with the 379 00:21:13,560 --> 00:21:16,520 Speaker 1: latest Consumer Price Index, which will be released two hours 380 00:21:16,520 --> 00:21:19,520 Speaker 1: from now, and Bloomberg's Viney down Judai says we're likely 381 00:21:19,520 --> 00:21:23,320 Speaker 1: to see another hot inflation reading. May CPI rose eight 382 00:21:23,320 --> 00:21:26,120 Speaker 1: point six percent you over a year abroad based increase 383 00:21:26,160 --> 00:21:29,080 Speaker 1: in the largest and forty years. June's reading could be 384 00:21:29,119 --> 00:21:32,160 Speaker 1: even higher based on a survey of Wall Street economists. 385 00:21:32,600 --> 00:21:35,520 Speaker 1: At the same time, Bloomberg Economics, as today's report will 386 00:21:35,560 --> 00:21:38,679 Speaker 1: be balanced by recent evidence that inflation as well as 387 00:21:38,720 --> 00:21:42,120 Speaker 1: economic growth may be moderating. The Federal Reserve is expected 388 00:21:42,160 --> 00:21:45,440 Speaker 1: to keep raising interest rates to contain inflation by tempering 389 00:21:45,480 --> 00:21:50,119 Speaker 1: economic growth. Benny Ice, Bloomberg day Break, Okay, Vinny, thank you. Meantime, 390 00:21:50,119 --> 00:21:53,440 Speaker 1: the International Monetary Fund cut it's month old growth projections 391 00:21:53,440 --> 00:21:55,240 Speaker 1: for the U S economy. It's one of a broad 392 00:21:55,280 --> 00:21:58,840 Speaker 1: based surgeon. Inflation poses systemic risks to both the US 393 00:21:58,920 --> 00:22:01,800 Speaker 1: and the global economy and Federal Reserve Bank of Richmond 394 00:22:01,800 --> 00:22:04,960 Speaker 1: President Thomas Barkin says the feds top priority is to 395 00:22:05,000 --> 00:22:08,480 Speaker 1: curb inflation. The FEDS tools work over time, so I 396 00:22:08,520 --> 00:22:12,600 Speaker 1: expect inflation to come down, but not immediately, not suddenly, 397 00:22:13,080 --> 00:22:16,240 Speaker 1: and not predictably. I'd expect inflation to bounce around on 398 00:22:16,280 --> 00:22:19,680 Speaker 1: its way back to our target, and these significant oscillations 399 00:22:19,720 --> 00:22:22,560 Speaker 1: are going to take time to damp. Richmond FED President 400 00:22:22,600 --> 00:22:25,800 Speaker 1: Thomas Barkin says the right policy is to cool inflation 401 00:22:25,880 --> 00:22:29,280 Speaker 1: without causing a significant economic downturn, we'll higher gas at 402 00:22:29,280 --> 00:22:32,280 Speaker 1: all prices have contributed to the inflations by Karen. This morning, 403 00:22:32,320 --> 00:22:35,760 Speaker 1: Crude is up following yesterday's decline. Checking prices now, nime 404 00:22:35,760 --> 00:22:37,960 Speaker 1: Excrudes up six tenths per cent or fifty nine cents 405 00:22:37,960 --> 00:22:40,359 Speaker 1: at ninety six dollars forty five cents in barrel. Brent 406 00:22:40,480 --> 00:22:43,800 Speaker 1: is at a hundred dollars two cents. Well incorporate news Nathan. 407 00:22:43,800 --> 00:22:47,080 Speaker 1: Twitter's escalating its battle with Elon Musk and Bloomberg's or 408 00:22:47,160 --> 00:22:49,760 Speaker 1: need a young joints life with more. Good morning Nina, 409 00:22:49,880 --> 00:22:52,760 Speaker 1: Good morning Karen. Twitter is suing Elon Musk after he 410 00:22:52,840 --> 00:22:56,560 Speaker 1: abandoned his forty four billion dollar takeover bid. The company 411 00:22:56,600 --> 00:23:00,000 Speaker 1: is accusing him of having buyer's remorse after his fortune decline. 412 00:23:00,000 --> 00:23:02,640 Speaker 1: Mind now. The lawsuit says that Twitter has bent over 413 00:23:02,680 --> 00:23:06,520 Speaker 1: backwards to provide Musk with the information he's requested. He's 414 00:23:06,560 --> 00:23:09,480 Speaker 1: disputed Twitter's claims that less than five percent of its 415 00:23:09,520 --> 00:23:12,840 Speaker 1: users are bought and wanted more proof. This filing is 416 00:23:12,880 --> 00:23:16,000 Speaker 1: set up what will be a closely watched battle in 417 00:23:16,040 --> 00:23:19,080 Speaker 1: the Delaware court system. Live in New York. I'm gonna 418 00:23:19,080 --> 00:23:21,159 Speaker 1: need a young Bloomberg daybreak. All right, we need to 419 00:23:21,200 --> 00:23:22,760 Speaker 1: thank you. That's the five things that you need to 420 00:23:22,800 --> 00:23:26,080 Speaker 1: notice start your day. Brought to you by Interactive Brokers. Again, 421 00:23:26,160 --> 00:23:29,280 Speaker 1: futures are higher this morning and straight ahead your latest 422 00:23:29,400 --> 00:23:33,879 Speaker 1: local headlines, plus a check of sports and this is Bloomberg. 423 00:23:38,160 --> 00:23:41,080 Speaker 1: Thanks Karen six on Wall Street, seventy five degrees in 424 00:23:41,200 --> 00:23:44,840 Speaker 1: Central Park. Problems headed the Jeff Careports southbound Van Wick's 425 00:23:44,880 --> 00:23:47,920 Speaker 1: gotta crash at Atlantic Avenue. Details coming up in traffic. 426 00:23:47,960 --> 00:23:50,560 Speaker 1: First Michael Barr with what else is going on in 427 00:23:50,560 --> 00:23:53,480 Speaker 1: New York and around the world. Good morning, Michael, Good morning, Nathan. 428 00:23:53,560 --> 00:23:55,960 Speaker 1: Tragedy in New York City. Two people are dead after 429 00:23:56,040 --> 00:23:59,800 Speaker 1: a boat capsized in the Hudson River in Manhattan, but 430 00:24:00,000 --> 00:24:03,440 Speaker 1: East Commissioner Keeaching Seul saysn't happened mid afternoon. This is 431 00:24:03,440 --> 00:24:06,399 Speaker 1: a tragic day for New Yorkers. Indeed, it may have 432 00:24:06,480 --> 00:24:09,560 Speaker 1: well been worse or not for the incredible effort by 433 00:24:09,640 --> 00:24:13,000 Speaker 1: not only our own extraordinary first responders, but also the 434 00:24:13,040 --> 00:24:16,640 Speaker 1: swift response from the New York Waterway Ferries, who rescued 435 00:24:16,760 --> 00:24:20,959 Speaker 1: nine additional people from the water. A nearby ferry rushed 436 00:24:20,960 --> 00:24:23,800 Speaker 1: to help pull people from the water. As mentioned by 437 00:24:23,920 --> 00:24:27,240 Speaker 1: Police Commissioner teaching Seoul. At least nine others were sent 438 00:24:27,280 --> 00:24:31,000 Speaker 1: to local hospitals. The mayor of Vivaldi Taxes is furious 439 00:24:31,040 --> 00:24:34,280 Speaker 1: after video footage from the rob Elementary School hallway was 440 00:24:34,359 --> 00:24:37,800 Speaker 1: leaked ahead of a private family viewing scheduled for this weekend. 441 00:24:38,160 --> 00:24:41,360 Speaker 1: You've Aaldi Mayor Don McLoughlin says he feels the families 442 00:24:41,400 --> 00:24:44,040 Speaker 1: were blindsided by the release of the tape and when 443 00:24:44,040 --> 00:24:47,080 Speaker 1: it comes to the local, state and federal authority scene 444 00:24:47,119 --> 00:24:50,720 Speaker 1: waiting in the hallway while the violence inside continued. McLoughlin 445 00:24:50,840 --> 00:24:54,200 Speaker 1: wants everybody who's seen on the tape to be held accountable. 446 00:24:54,440 --> 00:24:56,920 Speaker 1: I'm not shipping the blame, but there was enough half 447 00:24:56,920 --> 00:25:02,680 Speaker 1: powered officers, US Martshalals, DPS, Border Patrol, DHS to come 448 00:25:02,680 --> 00:25:05,760 Speaker 1: in and say, hey, we're going We're doing this. The 449 00:25:05,840 --> 00:25:09,879 Speaker 1: Austin American Statesman and a local TV station released an 450 00:25:10,000 --> 00:25:12,640 Speaker 1: edited version of the seventy seven minutes of valance video. 451 00:25:13,000 --> 00:25:15,320 Speaker 1: According to seeing an anim one video shows the gunmen 452 00:25:15,440 --> 00:25:17,480 Speaker 1: entering the school and walking down the hallway with a 453 00:25:17,520 --> 00:25:21,240 Speaker 1: long rifle. The recording also shows officers approaching the classroom 454 00:25:21,280 --> 00:25:24,000 Speaker 1: that the shooter was in, but then retreated down the 455 00:25:24,040 --> 00:25:28,119 Speaker 1: hallway and took cover when gunfire is heard. It was 456 00:25:28,160 --> 00:25:30,920 Speaker 1: more than an hour later before authorities confronted and killed 457 00:25:30,920 --> 00:25:34,480 Speaker 1: the shooter. Sri Lanka's president fled the country early today, 458 00:25:34,560 --> 00:25:37,360 Speaker 1: slipping away only hours before he promised to step down 459 00:25:37,440 --> 00:25:41,199 Speaker 1: under pressure from protesters angry over economic chaos that has 460 00:25:41,240 --> 00:25:46,000 Speaker 1: triggered severe shortages of food and fuel. Thousands of protesters 461 00:25:46,000 --> 00:25:49,000 Speaker 1: are also demanding that the Prime minister resigned. A US 462 00:25:49,240 --> 00:25:53,320 Speaker 1: gun rights groups sued to overturn New York's assault weapons 463 00:25:53,320 --> 00:25:55,760 Speaker 1: ban less than a month after the U Supreme Court 464 00:25:55,800 --> 00:25:58,840 Speaker 1: struck down the related state law that limited who could 465 00:25:58,880 --> 00:26:03,200 Speaker 1: carry a handgun in public. The Firearms Policy Coalition says 466 00:26:03,240 --> 00:26:06,520 Speaker 1: the band violates the Second Amendment. Global News twenty four 467 00:26:06,520 --> 00:26:09,200 Speaker 1: hours a day on air and on Bloomberg Quick Take, 468 00:26:09,440 --> 00:26:12,480 Speaker 1: powered by more than seven journalists and analysts more than 469 00:26:12,520 --> 00:26:16,120 Speaker 1: a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, 470 00:26:16,280 --> 00:26:23,359 Speaker 1: thanks Michael, come up to sixty six on Wall Street. 471 00:26:23,359 --> 00:26:26,240 Speaker 1: And John Stenshar has the Bloomberg Sports Update. Banks Dathan 472 00:26:26,320 --> 00:26:29,560 Speaker 1: Yankees were cruising along at the stadium against the Cincinnati Reds, 473 00:26:29,560 --> 00:26:32,120 Speaker 1: the team that began this season three and twenty two. 474 00:26:32,160 --> 00:26:34,720 Speaker 1: Garrett Cole was sharp seven scoreless Indians, gave up only 475 00:26:34,720 --> 00:26:37,520 Speaker 1: four hits, struck out eleven Anthony Rizzo by two runs 476 00:26:37,520 --> 00:26:39,520 Speaker 1: single before there was an out in the first inning. 477 00:26:39,560 --> 00:26:41,680 Speaker 1: Yanks took a three nothing lead to the ninth gave 478 00:26:41,720 --> 00:26:43,919 Speaker 1: the ball to their all star Clay Holmes, who has 479 00:26:43,960 --> 00:26:47,120 Speaker 1: been nearly perfect this season. He has taken the closer 480 00:26:47,200 --> 00:26:50,000 Speaker 1: roll away from a role as Chapman. Homes then faced 481 00:26:50,000 --> 00:26:52,840 Speaker 1: five batters and could not get anyone out, gave up 482 00:26:52,840 --> 00:26:55,480 Speaker 1: two hits, the walk hit two batters. The Yanks were 483 00:26:55,520 --> 00:27:00,200 Speaker 1: still one out from victory. To pitch India Lupson into 484 00:27:00,240 --> 00:27:03,560 Speaker 1: short center field. It's down for a basive one rental score. 485 00:27:03,720 --> 00:27:07,280 Speaker 1: Here come Salano pill score, and the Rats have come 486 00:27:07,359 --> 00:27:10,640 Speaker 1: all the way back to take the lead shots in 487 00:27:10,640 --> 00:27:13,520 Speaker 1: India with his second hit tonight, what's the Rets on 488 00:27:13,680 --> 00:27:16,080 Speaker 1: top four to three, and at the final w l 489 00:27:16,240 --> 00:27:18,040 Speaker 1: W and Cincinnati, the Reds of one five in a row, 490 00:27:18,119 --> 00:27:21,000 Speaker 1: three straight Yankee losses blown leads in all three. The 491 00:27:21,000 --> 00:27:23,320 Speaker 1: Mets loss in Atlanta four to one. The Braves got 492 00:27:23,359 --> 00:27:25,920 Speaker 1: two run homers from Matt Olsen and Adam Duval. They 493 00:27:25,960 --> 00:27:29,040 Speaker 1: are thirty and nine since June one. If Atlanta wins 494 00:27:29,040 --> 00:27:32,160 Speaker 1: again this afternoon, they'll be only a half game behind 495 00:27:32,160 --> 00:27:34,760 Speaker 1: the Mets and NHL free agencies on the way. The 496 00:27:34,760 --> 00:27:37,000 Speaker 1: biggest name was of Jenny Malkin, but he is staying 497 00:27:37,080 --> 00:27:40,440 Speaker 1: in Pittsburgh, where he has spent his entire sixteen year career. 498 00:27:40,480 --> 00:27:42,719 Speaker 1: Got a new four year contract with the Penguins. Tiger 499 00:27:42,720 --> 00:27:45,280 Speaker 1: Woods his first public comments about the new Lived tour, 500 00:27:45,640 --> 00:27:47,840 Speaker 1: says he doesn't understand why anyone would want to give 501 00:27:47,840 --> 00:27:50,120 Speaker 1: away a chance to play the major. Says they've turned 502 00:27:50,119 --> 00:27:52,840 Speaker 1: their back on the PGA. Tiger passed up the US 503 00:27:52,920 --> 00:27:55,359 Speaker 1: Open to get ready to play the Open Championship. He 504 00:27:55,440 --> 00:27:58,000 Speaker 1: wanted to play St. Andrew's one more time while he 505 00:27:58,040 --> 00:28:02,760 Speaker 1: feels he's still competitive the one Open Championship. Jess Off Tomorrow, 506 00:28:02,960 --> 00:28:06,480 Speaker 1: johns Starre Shanwa, Bloomberg Sports. Thanks John sixty seven On 507 00:28:06,480 --> 00:28:08,320 Speaker 1: Wall Street, Let's take a look at stocks some of 508 00:28:08,320 --> 00:28:10,280 Speaker 1: the names moving in the pre market right now with 509 00:28:10,320 --> 00:28:14,560 Speaker 1: Bloomberg Radio and TV Markets correspondent Crety cooped to create 510 00:28:14,680 --> 00:28:19,000 Speaker 1: Let's get the update. Twitter versus Ellen Well. The lawsuit 511 00:28:19,280 --> 00:28:21,679 Speaker 1: is certainly been filed, at least on Twitter side. They 512 00:28:21,680 --> 00:28:25,120 Speaker 1: are officially suing Elon musk Over has abandoned forty four 513 00:28:25,160 --> 00:28:28,080 Speaker 1: billion dollar takeover bid. Those shoes are higher by to 514 00:28:28,280 --> 00:28:30,440 Speaker 1: tune about one point four percent. T W t R 515 00:28:30,600 --> 00:28:33,800 Speaker 1: is your taker. This is important, Nathan, because we're talking 516 00:28:33,840 --> 00:28:37,919 Speaker 1: about this being a suping filed in Delaware, which a 517 00:28:37,960 --> 00:28:40,720 Speaker 1: lot of folks perhaps aren't familiar with with the chancery 518 00:28:40,760 --> 00:28:43,240 Speaker 1: court there, but basically a lot of companies are incorporated 519 00:28:43,280 --> 00:28:45,720 Speaker 1: in Delaware. It's a very business friendly environment. It's also 520 00:28:45,800 --> 00:28:48,800 Speaker 1: in environment where it's kind of known to be sticking 521 00:28:48,840 --> 00:28:51,480 Speaker 1: to the rules. If you say you're going to take 522 00:28:51,520 --> 00:28:53,960 Speaker 1: over a company, they're going to enforce that. At least 523 00:28:53,960 --> 00:28:56,240 Speaker 1: that's been the precedent there. So the idea here being 524 00:28:56,600 --> 00:28:59,520 Speaker 1: that Twitter is does have the upper hand going into 525 00:28:59,560 --> 00:29:01,400 Speaker 1: that law student, not necessarily that they're going to come 526 00:29:01,440 --> 00:29:03,960 Speaker 1: out on the winning hand, but that is what the 527 00:29:04,400 --> 00:29:07,080 Speaker 1: street take is for the moment. So tw t R 528 00:29:07,480 --> 00:29:10,200 Speaker 1: rising on that prospect up one point four percent and 529 00:29:10,280 --> 00:29:13,600 Speaker 1: was high. I should mentioned postmarket after that official lawsuit 530 00:29:13,640 --> 00:29:15,600 Speaker 1: came out, Nathan. We should take with the tech story though, 531 00:29:15,600 --> 00:29:19,360 Speaker 1: because Google is also very important to watch two stories here. 532 00:29:19,680 --> 00:29:22,000 Speaker 1: G O O G is your ticker we'll start off there. 533 00:29:22,200 --> 00:29:24,200 Speaker 1: The shares are about three tenths of a percent. But 534 00:29:24,280 --> 00:29:26,560 Speaker 1: keep an eye on this one because two things happened. 535 00:29:26,600 --> 00:29:30,080 Speaker 1: The first is alphabets. Google is planning to slow hiring 536 00:29:30,080 --> 00:29:32,120 Speaker 1: for the remainder of the year. That's coming. According to 537 00:29:32,160 --> 00:29:34,640 Speaker 1: an email to staff from the CEO, Soonder pitch, I 538 00:29:35,160 --> 00:29:39,600 Speaker 1: you are also seeing alphabet stocks a little bit concerning 539 00:29:39,760 --> 00:29:42,240 Speaker 1: when it tells that cow and They're trim their two 540 00:29:42,280 --> 00:29:45,560 Speaker 1: Google Search and YouTube add estimates at following checks and 541 00:29:45,640 --> 00:29:48,200 Speaker 1: suggested that search is seeing healthy demand but that the 542 00:29:48,240 --> 00:29:51,800 Speaker 1: business ease is decelerating. This is something that was largely expected, 543 00:29:51,920 --> 00:29:53,840 Speaker 1: but Cowen coming out and saying we'll really keep an 544 00:29:53,840 --> 00:29:57,440 Speaker 1: eye on it because that deceleration could come faster than expected. 545 00:29:57,560 --> 00:30:00,280 Speaker 1: Once again, Google shares g o O G up three 546 00:30:00,280 --> 00:30:02,600 Speaker 1: tenths of one percent. All right, creating We just got 547 00:30:02,600 --> 00:30:06,680 Speaker 1: earnings this morning from Delta Airlines. Big earnings miss, a 548 00:30:06,680 --> 00:30:09,440 Speaker 1: big earnings miss, and I mean this is perhaps setting 549 00:30:09,480 --> 00:30:12,360 Speaker 1: a poor precedent for some of its peers, American Airlines 550 00:30:12,400 --> 00:30:14,520 Speaker 1: for example, or even United. We are going to hear 551 00:30:14,560 --> 00:30:17,520 Speaker 1: from them, I believe going into next week with Delta shares, well, 552 00:30:17,560 --> 00:30:19,480 Speaker 1: let's like they're up now one point three percent, but 553 00:30:19,520 --> 00:30:22,280 Speaker 1: they were down far far more. What's interesting here is 554 00:30:22,320 --> 00:30:25,040 Speaker 1: the difference between their operating margin and their capacity, because 555 00:30:25,040 --> 00:30:28,080 Speaker 1: it says their third quarter capacity was down about fifteen 556 00:30:28,080 --> 00:30:32,160 Speaker 1: to seventeen percent relative to pre COVID levels. There are 557 00:30:32,200 --> 00:30:35,760 Speaker 1: also saying that Delta may buy about twelve more Airbus 558 00:30:35,840 --> 00:30:39,080 Speaker 1: eight to twenty jets that according to Reuters, so perhaps 559 00:30:39,120 --> 00:30:41,480 Speaker 1: expecting a little bit more demand there. So you do 560 00:30:41,520 --> 00:30:43,840 Speaker 1: have some two conflicting forces. Um when it comes to 561 00:30:43,920 --> 00:30:46,200 Speaker 1: how the stock is trading at the moment. Right now, 562 00:30:46,240 --> 00:30:48,280 Speaker 1: it is up one point four percent. We're gonna see 563 00:30:48,320 --> 00:30:50,920 Speaker 1: when the earnings call comes on what other color they 564 00:30:50,960 --> 00:30:53,160 Speaker 1: can give about that capacity. But Nathan a stock to 565 00:30:53,240 --> 00:30:55,760 Speaker 1: keep an eye on, Yeah, certainly. Bloomberg Radio TV Markets 566 00:30:55,760 --> 00:30:58,440 Speaker 1: correspondent Crety Gupta with us this morning. She'll continue to 567 00:30:58,480 --> 00:31:01,200 Speaker 1: be keeping an eye on stocks and the broader market, 568 00:31:01,560 --> 00:31:05,600 Speaker 1: joining Tom Key and co hosting Bloomberg Surveillance on Bloomberg 569 00:31:05,680 --> 00:31:10,160 Speaker 1: Radio all week, beginning at nine Wall Street time. This morning, 570 00:31:10,520 --> 00:31:13,160 Speaker 1: sb futures up six points, staff features up thirty eight, 571 00:31:13,240 --> 00:31:17,480 Speaker 1: nastac features up twenty six points. You're listening to Bloomberg 572 00:31:17,600 --> 00:31:24,560 Speaker 1: Daybreak Bloomberg eleven three oh weather. Sunshine today with a 573 00:31:24,600 --> 00:31:27,280 Speaker 1: high near ninety chance for afternoon showers and storms tomorrow. 574 00:31:27,320 --> 00:31:29,480 Speaker 1: Oper eighties will have a mix of sun and clouds 575 00:31:29,480 --> 00:31:31,959 Speaker 1: Friday and a high near ninety degrees once again right 576 00:31:32,000 --> 00:31:38,600 Speaker 1: now seventy five degrees in Central Park. Markets. Headlines and 577 00:31:38,720 --> 00:31:42,000 Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com, 578 00:31:42,120 --> 00:31:45,720 Speaker 1: the Bloomberg Business App, and at Bloomberg Quicktake, Tru's a 579 00:31:45,760 --> 00:31:55,320 Speaker 1: Bloomberg Business lash and I'm Karen Moscow. Futures on the rise. 580 00:31:55,440 --> 00:31:57,360 Speaker 1: This morning, we get to the first word breaking news 581 00:31:57,440 --> 00:32:00,600 Speaker 1: dash for today's morning call. Here's Bill Maloney, Good morning, 582 00:32:00,920 --> 00:32:03,680 Speaker 1: and good morning, Karen. Modest gains in the US futures 583 00:32:03,760 --> 00:32:06,000 Speaker 1: right now a deaf features up fifty two points, sesamees 584 00:32:06,040 --> 00:32:08,560 Speaker 1: gains seven one night stick features are up by thirty 585 00:32:08,680 --> 00:32:11,920 Speaker 1: six the US ten years at two point nine five percent, 586 00:32:12,000 --> 00:32:14,360 Speaker 1: Gold is little changed, Oil is in the green, and 587 00:32:14,440 --> 00:32:17,080 Speaker 1: Big Coin is trading higher by one point seven percent. 588 00:32:17,360 --> 00:32:20,240 Speaker 1: Shanghai was little changed overnight, while europ markets are in 589 00:32:20,240 --> 00:32:23,640 Speaker 1: the red, led by one percent losses in Germany. Back 590 00:32:23,640 --> 00:32:25,760 Speaker 1: in the US, on the economic front, at a thirty 591 00:32:25,760 --> 00:32:28,640 Speaker 1: to consumer price index at two o'clock, the Fed releases 592 00:32:28,720 --> 00:32:33,000 Speaker 1: it's beige book regarding earnings this morning, Delta EPs missed estimates, 593 00:32:33,080 --> 00:32:35,840 Speaker 1: and in other news, Google plans is slow hiring for 594 00:32:35,880 --> 00:32:39,080 Speaker 1: the remainder of the year. Wrapping things up, Armstrong World 595 00:32:39,160 --> 00:32:41,400 Speaker 1: was raised by over Goldman Sax, Juniper was cut to 596 00:32:41,440 --> 00:32:44,720 Speaker 1: underway to Piper, and Lazard was cut to underperform over 597 00:32:44,760 --> 00:32:48,239 Speaker 1: at KBW Live from the first breaking news bestcom Doll 598 00:32:48,320 --> 00:32:50,560 Speaker 1: Maloney care all right, Bil, thank you, and you mentioned 599 00:32:50,560 --> 00:32:53,400 Speaker 1: Delta earning, so shares down nine tenths per cent in 600 00:32:53,440 --> 00:32:55,760 Speaker 1: early trading right now, and to hear live breaking news 601 00:32:55,800 --> 00:32:58,680 Speaker 1: over your Bloomberg types, squawk on your terminal squ a 602 00:32:58,880 --> 00:33:01,520 Speaker 1: w K, that's a bloom Business flash. Now here's Michael 603 00:33:01,520 --> 00:33:03,960 Speaker 1: Barr with more on what's going on around the world. 604 00:33:04,080 --> 00:33:07,080 Speaker 1: Michael Karen, thank you very much. January six, Committee coach 605 00:33:07,120 --> 00:33:10,080 Speaker 1: here Liz Cheney, said the panel had notified the Justice 606 00:33:10,120 --> 00:33:14,320 Speaker 1: Department that Donald Trump himself had contacted the potential witness 607 00:33:14,360 --> 00:33:17,600 Speaker 1: who was talking with the committee. The panel also presented 608 00:33:17,640 --> 00:33:21,280 Speaker 1: evidence that Trump Ate secretly planned for a second rally 609 00:33:21,360 --> 00:33:24,360 Speaker 1: stage across from the capital on the day of the attack. 610 00:33:24,920 --> 00:33:27,960 Speaker 1: President Joe Biden lands in Israel this afternoon for a 611 00:33:27,960 --> 00:33:31,719 Speaker 1: three day stop before heading to Saudi Arabia. Ron's quickly 612 00:33:31,840 --> 00:33:35,560 Speaker 1: evolving nuclear program is high on the agenda. In baseball, 613 00:33:35,600 --> 00:33:38,200 Speaker 1: the Yankees and Mets lost. Also in the losing column 614 00:33:38,240 --> 00:33:42,160 Speaker 1: the Red Sox, the Orioles, A's and Giants. One Global 615 00:33:42,200 --> 00:33:44,440 Speaker 1: News twenty four hours a day on air and on 616 00:33:44,480 --> 00:33:48,200 Speaker 1: Bloomberg Quick Tank Power by more than journalists and then 617 00:33:48,280 --> 00:33:50,920 Speaker 1: lists more than a hundred twenty countries. Michael Barr and 618 00:33:51,000 --> 00:33:53,640 Speaker 1: this is Bloomberg. Karen, all right, Michael, thank you at 619 00:33:53,640 --> 00:33:56,160 Speaker 1: a sixty nine on Wall Street. Returned to news and 620 00:33:56,240 --> 00:33:59,000 Speaker 1: science and technology now at the Bloomberg and j I. T. 621 00:33:59,200 --> 00:34:02,760 Speaker 1: Stam Report brought to you by New Jersey Institute of Technology, 622 00:34:02,840 --> 00:34:05,880 Speaker 1: ranked to town fifty national public university by US News 623 00:34:05,880 --> 00:34:08,600 Speaker 1: and World Report and number fourteen in the nation on 624 00:34:08,680 --> 00:34:11,600 Speaker 1: Money's Best Colleges List. Learn more at n J I 625 00:34:11,680 --> 00:34:14,200 Speaker 1: T dot E d U. And Here's what's making news 626 00:34:14,200 --> 00:34:18,680 Speaker 1: and science, Technology, engineering and math. And Shanghai coronavirus cases 627 00:34:18,680 --> 00:34:21,680 Speaker 1: appear to be leveling off after a recent surge. Still, 628 00:34:21,719 --> 00:34:24,799 Speaker 1: residents have in urged to stockpile food and medicines that 629 00:34:24,920 --> 00:34:28,440 Speaker 1: sparked fears that the city could return to lockdown. Shanghai's 630 00:34:28,440 --> 00:34:30,960 Speaker 1: flare up is just one of the outbreaks. China's currently 631 00:34:30,960 --> 00:34:35,840 Speaker 1: grappling with Mexican President Andreas Manuel Lopez overdoor, has agreed 632 00:34:35,880 --> 00:34:37,880 Speaker 1: to spend one and a half billion dollars over the 633 00:34:37,920 --> 00:34:41,160 Speaker 1: next two years to improve a smart border technology. During 634 00:34:41,200 --> 00:34:44,160 Speaker 1: meetings with President Biden, a series of agreements the two 635 00:34:44,160 --> 00:34:48,080 Speaker 1: countries hammered out called for several other concrete moves, including 636 00:34:48,080 --> 00:34:50,760 Speaker 1: expanding the number of work visas the U S issues 637 00:34:51,040 --> 00:34:55,480 Speaker 1: and creating a bilateral working group on labor migration pathways. 638 00:34:56,200 --> 00:34:59,479 Speaker 1: And New York researcher has transplanted pig hearts into two 639 00:34:59,600 --> 00:35:02,400 Speaker 1: brain said people over the last month. It's the latest 640 00:35:02,400 --> 00:35:05,160 Speaker 1: innistring of developments in the long question of one day 641 00:35:05,200 --> 00:35:08,479 Speaker 1: safe human lives with animal organs. The Food and Drug 642 00:35:08,480 --> 00:35:11,239 Speaker 1: Administration is considering whether to allow a small number of 643 00:35:11,280 --> 00:35:14,640 Speaker 1: Americans who need a new organ to volunteer for rigorous 644 00:35:14,640 --> 00:35:17,440 Speaker 1: studies of either pig hearts or kidneys. And as a 645 00:35:17,480 --> 00:35:20,920 Speaker 1: Bloomberg n j I t STEM report Nathan Okay, Karen, 646 00:35:20,960 --> 00:35:23,520 Speaker 1: thank you. We are live from the Bloomberg Interactive Brokers 647 00:35:23,560 --> 00:35:26,120 Speaker 1: Studios or as six fifty on Wall Street time to 648 00:35:26,200 --> 00:35:28,319 Speaker 1: check what's going on in d C. Some of the 649 00:35:28,360 --> 00:35:31,160 Speaker 1: top stories in our nation's capital include the January six 650 00:35:31,160 --> 00:35:34,480 Speaker 1: Committee making a mapping a path from a wild Trump 651 00:35:34,520 --> 00:35:38,279 Speaker 1: tweet to the capital attack, President Biden on a Middle 652 00:35:38,280 --> 00:35:41,680 Speaker 1: East trip that's all about oil, and Vice President Harris 653 00:35:41,719 --> 00:35:45,040 Speaker 1: revealing a new Pacific strategy and encountering China. Let's bring 654 00:35:45,080 --> 00:35:47,480 Speaker 1: in Bloomberg Government reporter Emily Wilkins for more on all 655 00:35:47,520 --> 00:35:50,760 Speaker 1: these stories, starting with what we learned from the latest 656 00:35:50,960 --> 00:35:53,919 Speaker 1: January six hearing. Emily, take us through what came out 657 00:35:53,920 --> 00:35:56,960 Speaker 1: of it. It sounds like the panel is making the 658 00:35:57,080 --> 00:36:02,200 Speaker 1: argument that the mob was galvanized by President Twitter. Yeah, 659 00:36:02,280 --> 00:36:06,240 Speaker 1: that was definitely part of what happened at the hearing yesterday. 660 00:36:06,480 --> 00:36:09,080 Speaker 1: The hearing really focused a lot on this one tweet 661 00:36:09,280 --> 00:36:12,520 Speaker 1: set in the early hours of December nineteen from Trump 662 00:36:12,840 --> 00:36:16,279 Speaker 1: basically telling his reporters supporters to come to d C, 663 00:36:16,600 --> 00:36:19,760 Speaker 1: saying that it will be wild. Um and the committee 664 00:36:19,760 --> 00:36:22,239 Speaker 1: also focused on what happened in the White House in 665 00:36:22,360 --> 00:36:24,960 Speaker 1: the hours leading up to that tweet being sent. A 666 00:36:25,040 --> 00:36:28,560 Speaker 1: meeting late in the evening on December eighteenth, Um that 667 00:36:28,719 --> 00:36:32,120 Speaker 1: some advisors to the White President called unhinge. They said, 668 00:36:32,120 --> 00:36:35,319 Speaker 1: it was profanity laced meeting where a number of the 669 00:36:35,320 --> 00:36:39,719 Speaker 1: president's advisors were urging him to accept reality, and the 670 00:36:39,960 --> 00:36:42,879 Speaker 1: you know, announced that he had lost the election, sort 671 00:36:42,880 --> 00:36:45,960 Speaker 1: of call off his supporters. And then you had another 672 00:36:46,040 --> 00:36:50,759 Speaker 1: group of Rudy Rudy Giuliani, UM and others who are 673 00:36:50,760 --> 00:36:52,920 Speaker 1: telling Trump, know, what you need to do at this 674 00:36:53,000 --> 00:36:56,279 Speaker 1: point is double down. We can find a way to 675 00:36:56,440 --> 00:37:00,880 Speaker 1: make sure that that you know, we put forward these 676 00:37:00,920 --> 00:37:03,640 Speaker 1: alternative elections and and find a way to fight and 677 00:37:03,640 --> 00:37:06,680 Speaker 1: and see if you can still become president. And so 678 00:37:06,960 --> 00:37:10,279 Speaker 1: it was a very interesting hearing, a really kind of 679 00:37:10,360 --> 00:37:13,360 Speaker 1: delve into what the White House was like on a 680 00:37:13,480 --> 00:37:17,240 Speaker 1: very particular night before Trump sent that tweet. We also 681 00:37:17,360 --> 00:37:21,240 Speaker 1: learned that they expected to have a second stage. Remember 682 00:37:21,280 --> 00:37:24,960 Speaker 1: there was the here, there was the event on the ellipse, 683 00:37:25,200 --> 00:37:27,760 Speaker 1: but there was also going to be another event closer 684 00:37:27,800 --> 00:37:31,000 Speaker 1: to the Capitol Um. They also dug into the fact 685 00:37:31,200 --> 00:37:33,600 Speaker 1: that the march of the Capitol was planned from the 686 00:37:33,680 --> 00:37:36,360 Speaker 1: start um and that Trump initially had it in a 687 00:37:36,480 --> 00:37:38,960 Speaker 1: draft of his speech. And then at the very end 688 00:37:39,000 --> 00:37:42,480 Speaker 1: of the hearing, vice chair Liz Cheney revealed that Trump 689 00:37:42,600 --> 00:37:46,040 Speaker 1: had tried to call a witness in the investigation, UM, 690 00:37:46,080 --> 00:37:48,120 Speaker 1: and that they had to learn alerted the Department of 691 00:37:48,200 --> 00:37:52,399 Speaker 1: Justice to that. Interesting that final point to come out 692 00:37:52,440 --> 00:37:55,680 Speaker 1: from the vice chair of the committee, and it sounds 693 00:37:55,800 --> 00:37:59,440 Speaker 1: as though they may be pointing to the possibility of 694 00:37:59,560 --> 00:38:02,600 Speaker 1: at least referring this to the Justice Department. I mean 695 00:38:02,640 --> 00:38:06,880 Speaker 1: that has some pretty serious implications. Yes, I mean, this 696 00:38:06,960 --> 00:38:09,440 Speaker 1: would be this muind to be witnessing tampering. I mean, 697 00:38:09,440 --> 00:38:13,040 Speaker 1: this is an investigation and congressional congressional in the investigation 698 00:38:13,160 --> 00:38:16,160 Speaker 1: that's going on. They did refer this to to the 699 00:38:16,200 --> 00:38:20,040 Speaker 1: Department of Justice. Um, there's certainly, you know, other questions 700 00:38:20,080 --> 00:38:24,400 Speaker 1: about Remember, as everything happens with January six, there's also 701 00:38:24,440 --> 00:38:26,680 Speaker 1: the Justice Department to keep an eye on because there 702 00:38:26,760 --> 00:38:30,319 Speaker 1: are also watching their own investigation into this. They've brought 703 00:38:30,400 --> 00:38:34,400 Speaker 1: charges against folks UM, and so they're sort of, uh, 704 00:38:35,000 --> 00:38:37,640 Speaker 1: not perfectly working together. It will be it would be 705 00:38:37,640 --> 00:38:40,960 Speaker 1: inaccurate to say that, but certainly you've got two bodies 706 00:38:41,000 --> 00:38:43,799 Speaker 1: there who are very much focused on getting to the 707 00:38:43,840 --> 00:38:46,200 Speaker 1: bottom of what happened in the months leading up to 708 00:38:46,280 --> 00:38:49,680 Speaker 1: January six and on the day itself. Okay, let's turn 709 00:38:49,719 --> 00:38:52,800 Speaker 1: to President Biden's trip to the Middle East. He's heading 710 00:38:52,800 --> 00:38:56,879 Speaker 1: to Israel right now, multiple challenges to address, and we've 711 00:38:56,920 --> 00:39:01,120 Speaker 1: already gotten some news made on the way. Yeah, we've 712 00:39:01,120 --> 00:39:04,560 Speaker 1: got at this point a schedule about what exactly Biden 713 00:39:04,640 --> 00:39:06,919 Speaker 1: is going to be doing. We know that he will 714 00:39:06,960 --> 00:39:10,600 Speaker 1: be meeting with Saudi crown parents Mohammed bin Salmon on 715 00:39:10,719 --> 00:39:14,759 Speaker 1: Friday night as long as other Saudi leaders. Uh. He's 716 00:39:14,800 --> 00:39:18,000 Speaker 1: also expected to do an announcement on food security on 717 00:39:18,080 --> 00:39:22,720 Speaker 1: Thursday and talk about the importance of sustainable energy supply 718 00:39:22,880 --> 00:39:26,840 Speaker 1: level on UH during the trip as well. But Nathan, 719 00:39:26,920 --> 00:39:29,560 Speaker 1: this is gonna be a tough trip for President Biden. 720 00:39:29,600 --> 00:39:31,800 Speaker 1: I mean, he's coming at a time where his approval 721 00:39:31,920 --> 00:39:35,520 Speaker 1: rating is very low, even compared to his most recent 722 00:39:35,600 --> 00:39:39,240 Speaker 1: predecessor in this office. Uh. And you've got a pretty 723 00:39:39,320 --> 00:39:41,520 Speaker 1: big goal. He needs to try and figure out a 724 00:39:41,520 --> 00:39:45,560 Speaker 1: way to stabilize gas prices, lower gas prices, and that's 725 00:39:45,600 --> 00:39:47,920 Speaker 1: going to come to an ask to the Saudi government 726 00:39:47,960 --> 00:39:51,160 Speaker 1: to be able to ramp up productions. Stabilize helps stabilize 727 00:39:51,160 --> 00:39:54,480 Speaker 1: the region, and that's really not a guarantee that that 728 00:39:54,680 --> 00:39:57,319 Speaker 1: is going to happen. At the same time, he's got 729 00:39:57,360 --> 00:39:59,719 Speaker 1: a lot in his own party who are frustrated with Hi, 730 00:40:00,040 --> 00:40:02,440 Speaker 1: saying that he should not be going to Saudi Arabia 731 00:40:02,560 --> 00:40:05,960 Speaker 1: because of their record of human rights abuses and their 732 00:40:06,000 --> 00:40:10,680 Speaker 1: actions with Washington Post journalists Jamal because Sogi, who an 733 00:40:10,680 --> 00:40:15,040 Speaker 1: intelligence report revealed that was killed at the hands of 734 00:40:15,080 --> 00:40:18,839 Speaker 1: the Saudi government. So lots for the president to try 735 00:40:18,880 --> 00:40:21,919 Speaker 1: to overcome as he makes his way through the Middle 736 00:40:21,920 --> 00:40:24,440 Speaker 1: East over the next few days. Let's talk about this 737 00:40:24,520 --> 00:40:29,319 Speaker 1: new UH strategy focused on Pacific nations that came out 738 00:40:29,440 --> 00:40:34,120 Speaker 1: from Vice President Kamala Harris. What's the focus there, because 739 00:40:34,160 --> 00:40:37,640 Speaker 1: so the idea is to really prioritize pecific nations in 740 00:40:37,680 --> 00:40:42,080 Speaker 1: foreign policy as well as addressing some concerns over exclimate 741 00:40:42,160 --> 00:40:44,759 Speaker 1: change and the whole idea here, Nathan is that what 742 00:40:44,800 --> 00:40:47,560 Speaker 1: they really want to do is our counter China's bid 743 00:40:47,760 --> 00:40:49,799 Speaker 1: in that nation. They want to make sure that they're 744 00:40:49,840 --> 00:40:54,399 Speaker 1: building up US influence and relationships with allies that are, 745 00:40:54,680 --> 00:40:58,040 Speaker 1: you know, physically close to China. And so Vice President 746 00:40:58,080 --> 00:41:01,799 Speaker 1: Kamala Harris announced the plans to in more embassies UM. 747 00:41:01,880 --> 00:41:05,160 Speaker 1: She's talked about having more officials at the White House 748 00:41:05,200 --> 00:41:08,960 Speaker 1: and executive level that are working in the area. UM. 749 00:41:09,160 --> 00:41:12,239 Speaker 1: And you know, this is also coming as other US 750 00:41:12,280 --> 00:41:15,160 Speaker 1: allies in Australia and New Zealand are ramping up their 751 00:41:15,160 --> 00:41:18,759 Speaker 1: relationships with Pacific island nations. Of course, for a lot 752 00:41:18,760 --> 00:41:21,280 Speaker 1: of these nations, a big concern for them is climate 753 00:41:21,360 --> 00:41:23,440 Speaker 1: change and what's going to happen. I mean, if you 754 00:41:23,560 --> 00:41:25,560 Speaker 1: were a tiny island out in the middle of the ocean, 755 00:41:25,719 --> 00:41:29,160 Speaker 1: it's a huge concern. And so they are taking steps 756 00:41:29,160 --> 00:41:31,560 Speaker 1: to try and making sure that they're addressing climate change, 757 00:41:31,600 --> 00:41:34,400 Speaker 1: stepping up sort of talking more to the leaders of 758 00:41:34,440 --> 00:41:37,719 Speaker 1: those specific island nations about what is needed um and 759 00:41:37,760 --> 00:41:40,279 Speaker 1: finding ways to address it. Yeah. Interesting to see the 760 00:41:40,360 --> 00:41:43,200 Speaker 1: focus continue to be on China and the challenge there, 761 00:41:43,239 --> 00:41:46,719 Speaker 1: even as President Biden heads over to the complete other 762 00:41:46,800 --> 00:41:49,480 Speaker 1: side of the Asian con and Bloomberg Government reporter Emily 763 00:41:49,480 --> 00:41:52,040 Speaker 1: Wilkins thank you for this from the nation's capital. Read 764 00:41:52,120 --> 00:41:54,520 Speaker 1: more about all these stories on Bloomberg dot com or 765 00:41:54,560 --> 00:41:57,640 Speaker 1: on the Bloomberg terminal, and listen to Bloomberg Radio in 766 00:41:57,680 --> 00:42:01,960 Speaker 1: Washington Bloomberg and one oh five point seven FM HD two. 767 00:42:02,400 --> 00:42:05,799 Speaker 1: Head of the release of June consumer prices, futures are 768 00:42:05,840 --> 00:42:09,000 Speaker 1: moving to touch higher mentioned earlier, traders are now fully 769 00:42:09,040 --> 00:42:11,719 Speaker 1: pricing in seventy five basis point rate hikes from the 770 00:42:11,719 --> 00:42:14,960 Speaker 1: FED at the upcoming July meeting. Right now, SMP futures 771 00:42:15,000 --> 00:42:18,120 Speaker 1: up six points, now features up forty NASTACK futures are 772 00:42:18,200 --> 00:42:21,080 Speaker 1: higher by thirty one points. The tenure treasury is up 773 00:42:21,120 --> 00:42:24,120 Speaker 1: five thirty seconds. The yield two point nine four percent. 774 00:42:24,160 --> 00:42:27,839 Speaker 1: Yield on the two year higher at three point zero two. 775 00:42:27,920 --> 00:42:30,880 Speaker 1: Nim X screwed up seven tenths percent, nineties six dollars 776 00:42:31,239 --> 00:42:35,800 Speaker 1: fifty cents of barrel bitcoin nineteen thousand, seven hundred dollars. 777 00:42:36,480 --> 00:42:40,280 Speaker 1: Bloomberg Surveillance is up next with Tom King, Jonathan Farrow, 778 00:42:40,360 --> 00:42:43,960 Speaker 1: and Lisa abramoids for Karen Moscow. I'm Nathan Hagar, and 779 00:42:44,040 --> 00:42:45,759 Speaker 1: this is Bloomberg