1 00:00:02,480 --> 00:00:05,200 Speaker 1: Live from the Bloomberg Interact at Burger Studios. This is 2 00:00:05,240 --> 00:00:09,600 Speaker 1: Bloomberg day Break for Thursday April. Coming up this hour, 3 00:00:09,920 --> 00:00:13,280 Speaker 1: Russia claims a key victory as Ukrainian forces remain hold 4 00:00:13,360 --> 00:00:16,120 Speaker 1: up in the port city of Mariopol. The Justice Department 5 00:00:16,120 --> 00:00:19,320 Speaker 1: will appeal of federal judges ruling that lifted mask mandates 6 00:00:19,320 --> 00:00:23,079 Speaker 1: on public transportation, and Tesla shares surge after the electric 7 00:00:23,160 --> 00:00:26,759 Speaker 1: vehicle maker posts a record profit. Legalized pot sales began 8 00:00:26,800 --> 00:00:29,080 Speaker 1: to day in New Jersey, Plus the state of Florida 9 00:00:29,120 --> 00:00:32,599 Speaker 1: clashes with its biggest tourist attraction, balt Disney World. I'm 10 00:00:32,640 --> 00:00:35,680 Speaker 1: Michael Barr. More ahead, I'm done stage and forwards the 11 00:00:35,720 --> 00:00:38,040 Speaker 1: next bloo up. Big League lost Game two in Boston, 12 00:00:38,120 --> 00:00:40,680 Speaker 1: the Yankees one in Detroit. The Mets lost for Vaginant. 13 00:00:42,400 --> 00:00:46,200 Speaker 1: That's all straight ahead on Bloomberg day Break. On Bloomberg. 14 00:00:46,280 --> 00:00:50,159 Speaker 1: You live in Freo, New York, Bloomberg one, Washington, d C, 15 00:00:50,600 --> 00:00:54,920 Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, 16 00:00:55,320 --> 00:00:58,440 Speaker 1: Sirius x M one nine Team and around the world 17 00:00:58,480 --> 00:01:01,480 Speaker 1: on Bloomberg Radio, dot Com, m and via the Bloomberg 18 00:01:01,520 --> 00:01:10,360 Speaker 1: Business add and good morning. I'm Karen Moscow. I'm Nathan Hagar. 19 00:01:10,400 --> 00:01:12,360 Speaker 1: Bloomberg day Break brought to you by b n y 20 00:01:12,400 --> 00:01:15,640 Speaker 1: Melon's Pershing learned why the world's most sophisticated wealth management 21 00:01:15,640 --> 00:01:19,440 Speaker 1: and institutional firms rely on Pershing to help them improve profitability, 22 00:01:19,520 --> 00:01:23,039 Speaker 1: create efficiency, attract talent, and manage risk at Pershing dot 23 00:01:23,040 --> 00:01:26,400 Speaker 1: Com and US futures are higher this morning, so one 24 00:01:26,400 --> 00:01:28,360 Speaker 1: on Wall Street, and we check the markets every fifteen 25 00:01:28,360 --> 00:01:30,640 Speaker 1: minutes throughout the trading day on Bloomberg, U S and 26 00:01:30,680 --> 00:01:33,080 Speaker 1: P futures up twenty nine points down, futures up a 27 00:01:33,120 --> 00:01:36,840 Speaker 1: hundred eighty three nos day futures up one every tenure, 28 00:01:36,840 --> 00:01:39,720 Speaker 1: Treasury down ten thirty seconds. He'll two point eight seven 29 00:01:39,760 --> 00:01:41,839 Speaker 1: percent and they yield on a two year two point 30 00:01:41,880 --> 00:01:44,640 Speaker 1: six one percent. And I'm x screwed oil is up 31 00:01:44,680 --> 00:01:46,839 Speaker 1: eight ten percent or seventy nine cents and a hundred 32 00:01:46,840 --> 00:01:49,760 Speaker 1: two dollars ninety seven cents of Beryl. Nathan. Karen will 33 00:01:49,800 --> 00:01:51,640 Speaker 1: have more on markets in a minute, but first it 34 00:01:51,680 --> 00:01:54,080 Speaker 1: may be a major development in the war in Ukraine. 35 00:01:54,160 --> 00:01:57,560 Speaker 1: Russian President Vladimir Putin says his forces have taken the 36 00:01:57,640 --> 00:02:00,200 Speaker 1: key ports city of Mariopol. We get the latest now 37 00:02:00,200 --> 00:02:04,080 Speaker 1: from Bloomberg's Amy Morris in our newsroom in Washington, Russia's 38 00:02:04,080 --> 00:02:07,520 Speaker 1: defense minister says more than two thousand Ukrainian troops remain 39 00:02:07,640 --> 00:02:10,119 Speaker 1: hold up in the city. Putin is calling on them 40 00:02:10,160 --> 00:02:13,560 Speaker 1: to surrender. This as the US imposed fresh sanctions on 41 00:02:13,680 --> 00:02:16,680 Speaker 1: Russia while preparing to send another eight hundred million dollars 42 00:02:16,680 --> 00:02:20,359 Speaker 1: in weapons to Ukraine. Treasury Secretary Janet Yellen and others 43 00:02:20,400 --> 00:02:22,920 Speaker 1: walked out of a group of twenty meeting as Russian 44 00:02:22,960 --> 00:02:26,640 Speaker 1: officials began addressing the gathering. Russia meanwhile test fired a 45 00:02:26,680 --> 00:02:30,760 Speaker 1: new intercontinental ballistic missile, but Pentagon Press Secretary John Kirby 46 00:02:30,800 --> 00:02:33,040 Speaker 1: says Russia told the US about that test ahead of 47 00:02:33,080 --> 00:02:35,960 Speaker 1: time and he doesn't consider it a threat. In Washington, 48 00:02:36,080 --> 00:02:38,560 Speaker 1: I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you 49 00:02:38,560 --> 00:02:41,400 Speaker 1: about turning to the pandemic. Now. The Florida court ruling 50 00:02:41,400 --> 00:02:43,280 Speaker 1: that put a stop to mass mandates in the year 51 00:02:43,360 --> 00:02:46,160 Speaker 1: will be appealed to Bloomberg, said Baxter has the story. 52 00:02:46,680 --> 00:02:49,880 Speaker 1: The CDC has come out saying that current conditions warrant 53 00:02:49,880 --> 00:02:53,440 Speaker 1: the mask mandate remain in place. The wording it is 54 00:02:53,480 --> 00:02:57,560 Speaker 1: CDC's continuing assessment that at this time in order requiring 55 00:02:57,600 --> 00:03:02,080 Speaker 1: masking in the indoor transportation corps or remains necessary for 56 00:03:02,120 --> 00:03:05,960 Speaker 1: the public health. C DC believes this is a lawful order, 57 00:03:06,400 --> 00:03:10,920 Speaker 1: well within CDC's legal authority to protect public health. Now, remember, 58 00:03:10,919 --> 00:03:13,680 Speaker 1: the Biden administration has said that if the CDC made 59 00:03:13,760 --> 00:03:17,360 Speaker 1: that determination, it would appeal. The d o J has 60 00:03:17,360 --> 00:03:20,120 Speaker 1: said it is ready to move forward. In San Francisco, 61 00:03:20,120 --> 00:03:22,520 Speaker 1: I'm at Baxter Bloomberg day break, All right, and thank you. 62 00:03:22,639 --> 00:03:26,079 Speaker 1: In China, President shi Jinping is defending his country's reliance 63 00:03:26,120 --> 00:03:29,639 Speaker 1: on lockdowns to fight the pandemic despite mounting economic woes. 64 00:03:30,160 --> 00:03:33,280 Speaker 1: We need to work together to defend people's lives and health. 65 00:03:34,240 --> 00:03:38,640 Speaker 1: Safety and health are the prerequisite for human development and progress. 66 00:03:38,720 --> 00:03:42,000 Speaker 1: Speaking through an interpreter, Chinese President Shi Jinping reaffirmed the 67 00:03:42,080 --> 00:03:45,400 Speaker 1: underlying goal is to minimize deaths. Well. Turning to markets now, 68 00:03:45,520 --> 00:03:48,520 Speaker 1: Nathan shares a Tesla up almost seven percent in early 69 00:03:48,600 --> 00:03:51,720 Speaker 1: trading following a strong earnings report from Elon Musks electric 70 00:03:51,760 --> 00:03:54,720 Speaker 1: vehicle giant. We get the latest lie from Bloomberg's Reni 71 00:03:54,840 --> 00:03:57,160 Speaker 1: a Young, Good Morning Radia, Good Morning Care, and Tesla's 72 00:03:57,200 --> 00:04:00,280 Speaker 1: reporting a record profit for Q one boosted by strong 73 00:04:00,320 --> 00:04:04,120 Speaker 1: demand for its electric vehicles and despite industry wide supply 74 00:04:04,240 --> 00:04:08,080 Speaker 1: chain challenges for key components like semiconductors and higher prices. 75 00:04:08,520 --> 00:04:11,480 Speaker 1: CEO Ellen Musk says Tesla should be able to make 76 00:04:11,560 --> 00:04:14,560 Speaker 1: up for any production shortfalls so to help mitigate the 77 00:04:14,560 --> 00:04:17,400 Speaker 1: effect of all that the company has been raising vehicle 78 00:04:17,520 --> 00:04:21,440 Speaker 1: prices and must predens. Tesla is on track to expand 79 00:04:21,480 --> 00:04:24,920 Speaker 1: production to more than one point five million vehicles this year. 80 00:04:25,200 --> 00:04:29,200 Speaker 1: That's compared with about nine thirty six thousand deliveries last year. 81 00:04:29,680 --> 00:04:31,760 Speaker 1: Live in New York, I'm gonna need a young Bloomberg 82 00:04:31,800 --> 00:04:33,839 Speaker 1: day break alright, rened to thank you. We're also watching 83 00:04:33,839 --> 00:04:36,920 Speaker 1: shares of United Airlines. They're up nearly eight percent. As 84 00:04:36,920 --> 00:04:40,280 Speaker 1: Bloomberg's Charlie Pellick reports, the carrier expects to be profitable 85 00:04:40,400 --> 00:04:44,640 Speaker 1: this year. CEO Scott Kirby says the demand environment is 86 00:04:44,720 --> 00:04:47,760 Speaker 1: the strongest it has been in his thirty years in 87 00:04:47,800 --> 00:04:51,840 Speaker 1: the industry. United joins rival Delta and projecting a return 88 00:04:51,880 --> 00:04:56,200 Speaker 1: to profitability even as the industry grapples with dramatically higher 89 00:04:56,200 --> 00:04:59,680 Speaker 1: fuel costs. Carriers have been hopeful this year would mark 90 00:04:59,680 --> 00:05:03,120 Speaker 1: a re bound from the pandemic slump before the rising 91 00:05:03,160 --> 00:05:06,919 Speaker 1: expenses and a brief surge in the COVID nineteen omicron 92 00:05:07,120 --> 00:05:11,839 Speaker 1: variant disrupted operations in recent months. In New York, Charlie 93 00:05:11,920 --> 00:05:14,039 Speaker 1: Bloombird day break. All right, Charlie, thank you all. We 94 00:05:14,080 --> 00:05:16,520 Speaker 1: are seeing the fallout continue this morning from the massive 95 00:05:16,560 --> 00:05:19,840 Speaker 1: sell off in Netflix shares. Billionaire investor Bell Ackman lost 96 00:05:19,880 --> 00:05:22,880 Speaker 1: more than four hundred thirty million dollars on a three 97 00:05:22,880 --> 00:05:26,440 Speaker 1: month bet on the streaming company. Ackman's Pershing Square Capital 98 00:05:26,480 --> 00:05:29,400 Speaker 1: Management sold as Netflix stake after the company reported an 99 00:05:29,480 --> 00:05:33,800 Speaker 1: unexpected drop in customers. Shares plunge thirty five percent yesterday, 100 00:05:33,800 --> 00:05:36,080 Speaker 1: and right now shares are down another eight ten percent 101 00:05:36,160 --> 00:05:39,000 Speaker 1: in early trading. Turning to the economy, Karen J. Powell 102 00:05:39,040 --> 00:05:41,159 Speaker 1: will have one of the final words on central bank 103 00:05:41,200 --> 00:05:44,680 Speaker 1: policy outlook before the FED enters its traditional blackout period. 104 00:05:44,839 --> 00:05:48,320 Speaker 1: Powell speaks later today before an International Monetary Fund panel. 105 00:05:48,560 --> 00:05:51,880 Speaker 1: The fed's next policy decision comes on May fourth. Meanwhile, 106 00:05:52,000 --> 00:05:55,000 Speaker 1: Nathan San Francisco FED President Mary Daly is speaking out 107 00:05:55,000 --> 00:05:57,200 Speaker 1: on the future of interest rate. She says the central 108 00:05:57,240 --> 00:05:59,520 Speaker 1: banks had raise rates to neutral by the end of 109 00:05:59,520 --> 00:06:03,120 Speaker 1: the year, moving purposefully to a more neutral stance that 110 00:06:03,160 --> 00:06:06,200 Speaker 1: does not stimulate the economy that is clearly demonstrated it 111 00:06:06,240 --> 00:06:09,560 Speaker 1: can self sustain is a top priority, and this is 112 00:06:09,600 --> 00:06:12,719 Speaker 1: where the question of timing comes in. How quickly should 113 00:06:12,720 --> 00:06:15,760 Speaker 1: we get there so accounting for the risks of being 114 00:06:15,800 --> 00:06:19,520 Speaker 1: too fast or too slow, I see an expeditious march 115 00:06:19,600 --> 00:06:22,000 Speaker 1: to neutral by the end of the year as the 116 00:06:22,040 --> 00:06:25,200 Speaker 1: prudent path and San Francisco Fed President Mary Daily made 117 00:06:25,200 --> 00:06:28,040 Speaker 1: the comments at an economic conference in Las Vegas. Well, 118 00:06:28,080 --> 00:06:30,800 Speaker 1: despite the rise in inflation and interest rate hikes Karen. 119 00:06:30,839 --> 00:06:34,360 Speaker 1: Bank of America CEO Brian moynihan says, the consumer is 120 00:06:34,480 --> 00:06:37,200 Speaker 1: holding up well. They have more money to spend, and 121 00:06:37,200 --> 00:06:40,080 Speaker 1: they aren't borrowing on Allianes. The credit card Bowser's still 122 00:06:40,160 --> 00:06:42,640 Speaker 1: twenty billion. All that says there's a lot of dry 123 00:06:42,680 --> 00:06:45,160 Speaker 1: powder on the consumer side. So that's the tension. So 124 00:06:45,200 --> 00:06:47,279 Speaker 1: that's the goodness. I don't know what they say and 125 00:06:47,320 --> 00:06:49,120 Speaker 1: worry about, but I can tell you on a given day, 126 00:06:49,160 --> 00:06:52,320 Speaker 1: they're spending money and engaging in economy. Bank of America 127 00:06:52,400 --> 00:06:55,000 Speaker 1: CEO Brian moynahan made the comments in an interview with 128 00:06:55,000 --> 00:06:58,680 Speaker 1: Bloomberg's David weston just watching this red headline cross the 129 00:06:58,680 --> 00:07:02,720 Speaker 1: Bloomberg terminal, China said to delay it's d D probe 130 00:07:02,720 --> 00:07:06,240 Speaker 1: result after officials object. Will be following that for you 131 00:07:06,279 --> 00:07:08,960 Speaker 1: through the morning. Right now, SMP futures are up thirty points, 132 00:07:08,960 --> 00:07:13,280 Speaker 1: STOUN futures up, NASTACK futures are higher by one hundred 133 00:07:13,360 --> 00:07:16,600 Speaker 1: thirty points. Straight ahead your latest local headlines plus the 134 00:07:16,680 --> 00:07:23,840 Speaker 1: check of sports. This is Bloomberg Sounds six oh seven 135 00:07:23,840 --> 00:07:26,240 Speaker 1: on Wall Street forty seven degrees in Central Park. Still 136 00:07:26,240 --> 00:07:28,440 Speaker 1: dealing with that overturned tractor trailer on the New Jersey 137 00:07:28,520 --> 00:07:31,040 Speaker 1: turn Fike will get to the details in traffic. First 138 00:07:31,080 --> 00:07:32,880 Speaker 1: Michael bar with more on what's going on in New 139 00:07:32,960 --> 00:07:35,600 Speaker 1: York and around the world. Good morning Michael, Good morning Nathan. 140 00:07:35,640 --> 00:07:38,720 Speaker 1: Today in New Jersey begins selling legalized pot, but there 141 00:07:38,760 --> 00:07:41,840 Speaker 1: will still be a minority of people for whom cannabis 142 00:07:41,840 --> 00:07:45,600 Speaker 1: remains off limits. The police, Jersey City Mayor Steve Fullap, 143 00:07:45,720 --> 00:07:48,000 Speaker 1: these guys are carrying weapons and they need to be 144 00:07:48,080 --> 00:07:50,560 Speaker 1: able to have good judgment at all times in the 145 00:07:50,560 --> 00:07:52,800 Speaker 1: community to feel comfortable with that. So we're gonna make 146 00:07:52,800 --> 00:07:54,080 Speaker 1: the rules that are in the best interest of our 147 00:07:54,120 --> 00:07:57,640 Speaker 1: community here. Jersey City Mayor Steve Fullip, Florida governor around 148 00:07:57,640 --> 00:08:00,640 Speaker 1: the centers is asking the legislature to turn dominated deal 149 00:08:00,680 --> 00:08:03,360 Speaker 1: with balt Disney World. The santist says the Walt Disney 150 00:08:03,440 --> 00:08:06,920 Speaker 1: Company had no right to criticize what critics call Florida's 151 00:08:06,920 --> 00:08:09,720 Speaker 1: don't Say Gay law. The state Senate has passed to 152 00:08:09,720 --> 00:08:12,760 Speaker 1: build and repeal the law allowing Balt Disney World to 153 00:08:12,840 --> 00:08:16,119 Speaker 1: operate as a private government over its properties in the state. 154 00:08:16,520 --> 00:08:20,400 Speaker 1: The speaker of the Florida House, Representative, Chris Prowls, spoke 155 00:08:20,440 --> 00:08:23,240 Speaker 1: with Bloomberg's Joe Matthew about the law. First of all, 156 00:08:23,280 --> 00:08:26,400 Speaker 1: it'll allow the allow it to be given to the 157 00:08:26,440 --> 00:08:29,080 Speaker 1: local governments, which is how most of these special districts are. 158 00:08:29,480 --> 00:08:32,360 Speaker 1: You know, this Disney is one of six special districts 159 00:08:32,400 --> 00:08:37,200 Speaker 1: that was never reformed after the nine Florida Constitution. But 160 00:08:37,280 --> 00:08:39,760 Speaker 1: most of the districts, Joe are you know, there's a 161 00:08:39,800 --> 00:08:43,600 Speaker 1: mosquito control district, there's a law library. There is nothing 162 00:08:44,000 --> 00:08:47,160 Speaker 1: that is a corporation that has the ability to essentially 163 00:08:47,320 --> 00:08:51,839 Speaker 1: engage in their own self governing. Spoke with our Washington 164 00:08:51,920 --> 00:08:56,239 Speaker 1: correspondent Joe Matthew on Bloomberg Sound. Catch the program weekdays 165 00:08:56,320 --> 00:08:59,480 Speaker 1: at five pm Eastern on Bloomberg Radio. A man is 166 00:08:59,559 --> 00:09:02,440 Speaker 1: dead and police officer critically injuredy and what police say 167 00:09:02,559 --> 00:09:05,120 Speaker 1: was a gun investigation to rest gone bad. Just north 168 00:09:05,320 --> 00:09:08,600 Speaker 1: of New York City. Authorities say three people police were 169 00:09:08,640 --> 00:09:13,080 Speaker 1: following ducked into a small grocery store. Yonkers Police Commissioner 170 00:09:13,240 --> 00:09:16,560 Speaker 1: John Mueller says the officers then went inside. One of 171 00:09:16,600 --> 00:09:20,680 Speaker 1: the suspects attempted to push past one of our detective, 172 00:09:20,720 --> 00:09:24,280 Speaker 1: the Yonker's detective, and and when our Yonker's detective pushed 173 00:09:24,320 --> 00:09:27,559 Speaker 1: him back, um, it appears that he fired one shot 174 00:09:27,640 --> 00:09:31,080 Speaker 1: at our detective. Commissioner Muller says the officer lost a 175 00:09:31,120 --> 00:09:34,480 Speaker 1: tremendous amount of blood, but thankfully we think he's gonna 176 00:09:34,480 --> 00:09:37,319 Speaker 1: be okay. The alleged gunman was shot and killed by 177 00:09:37,440 --> 00:09:40,760 Speaker 1: one of the other officers. French President Emmanuel mccrawl last 178 00:09:40,840 --> 00:09:43,839 Speaker 1: night squared off against as far right election challenger Marine 179 00:09:43,920 --> 00:09:46,640 Speaker 1: le Pen in the debate ahead of Sunday's election runoff. 180 00:09:46,960 --> 00:09:49,400 Speaker 1: Le Pen insist the French will be better off on 181 00:09:49,520 --> 00:09:53,839 Speaker 1: purchasing power and security under her rule. Global News twenty 182 00:09:53,840 --> 00:09:56,920 Speaker 1: four hours a day on air and on Bloomberg quick Take, 183 00:09:57,160 --> 00:10:00,200 Speaker 1: powered by more than undred journalist and analyst for more 184 00:10:00,200 --> 00:10:04,400 Speaker 1: than twenty countries. Michael Barren, this is Bloomberg. Nathan. Okay, Michael, 185 00:10:04,440 --> 00:10:10,920 Speaker 1: thank you almost sixth ten of all straight time for 186 00:10:10,920 --> 00:10:13,400 Speaker 1: the Bloomberg Sports Update with John Stats shot all right. 187 00:10:13,440 --> 00:10:16,640 Speaker 1: Nat to the Nets able to build up a seventeen 188 00:10:16,679 --> 00:10:19,400 Speaker 1: point lead in Game two in Boston, not really because 189 00:10:19,440 --> 00:10:20,920 Speaker 1: of their stars. They were led by the likes of 190 00:10:20,920 --> 00:10:23,400 Speaker 1: Bruce Brown, gore, On Dragic, and Seth Curry. When the 191 00:10:23,400 --> 00:10:25,440 Speaker 1: Celtics caught up of the fourth quarter the game was 192 00:10:25,480 --> 00:10:27,760 Speaker 1: on the line, the Nets looked to their stars and 193 00:10:27,800 --> 00:10:31,000 Speaker 1: they failed on Kevin Durant shot four for seventeen. He's 194 00:10:31,080 --> 00:10:34,080 Speaker 1: thirteen for forty one in the series. Kyrie Irving, who 195 00:10:34,120 --> 00:10:36,840 Speaker 1: had a brilliant Game one this time, shot four for thirteen. 196 00:10:36,880 --> 00:10:40,120 Speaker 1: Together in the second half they were one for seventeen 197 00:10:40,200 --> 00:10:43,559 Speaker 1: and the Celtics one one oh seven lead the series 198 00:10:43,559 --> 00:10:46,320 Speaker 1: to zip. Here's Kyrie, he just gotta be better, poet, 199 00:10:46,800 --> 00:10:49,439 Speaker 1: coming out of that a halftime and knowing that when 200 00:10:49,440 --> 00:10:52,120 Speaker 1: we have to lead and against a good team or 201 00:10:52,160 --> 00:10:54,680 Speaker 1: great team like Boston, we just gotta take advantage of 202 00:10:54,720 --> 00:10:57,679 Speaker 1: its expected. Irving booed by Celtic fans every time he 203 00:10:57,760 --> 00:11:00,000 Speaker 1: touched the ball game three Saturday night at the Berkeley Center. 204 00:11:00,000 --> 00:11:02,480 Speaker 1: Philadelphia won and overtime at Toronto and went up three 205 00:11:02,520 --> 00:11:05,000 Speaker 1: nothing in that series. Chicago wanted Milwaukee to tie that 206 00:11:05,040 --> 00:11:07,439 Speaker 1: series at one. Another cold night in Detroit, and the 207 00:11:07,520 --> 00:11:09,920 Speaker 1: Yankee win by two runs, this time five to three. 208 00:11:09,960 --> 00:11:13,199 Speaker 1: A home run for Anthony Rizzo, his fourth. Isaiah Kiner Felfa, 209 00:11:13,480 --> 00:11:15,880 Speaker 1: the new shortstop, has come on since the slow start. 210 00:11:15,920 --> 00:11:18,600 Speaker 1: His RBI single seventh the name gave the Yankster lead 211 00:11:18,640 --> 00:11:21,240 Speaker 1: back after the Tigers a tied three hits for Detroit's 212 00:11:21,240 --> 00:11:24,400 Speaker 1: Miguel Caprera. He needs one more for three thousand in 213 00:11:24,480 --> 00:11:26,520 Speaker 1: his career at City Field. Giants with a quick start, 214 00:11:26,520 --> 00:11:28,280 Speaker 1: three runs of the first and even have Chris Bassett, 215 00:11:28,320 --> 00:11:30,400 Speaker 1: they went on to beat the Mets five to two. 216 00:11:30,440 --> 00:11:34,679 Speaker 1: Surprising news from college basketball, Jay Wright only sixty years old, 217 00:11:35,400 --> 00:11:39,280 Speaker 1: twenty one years at Villanova, he's retiring, won two national championships. 218 00:11:39,360 --> 00:11:42,960 Speaker 1: Villanova has already named his rights replacement, Kyle Neptune, former 219 00:11:43,000 --> 00:11:45,839 Speaker 1: Nova assistant, just finished his first and what will turn 220 00:11:45,840 --> 00:11:48,360 Speaker 1: out to be his only season at Fordham John Stash 221 00:11:48,400 --> 00:11:50,840 Speaker 1: they were Bloomberg Sports. Nathan Okay, John, thank you right 222 00:11:50,840 --> 00:11:54,520 Speaker 1: now SMP futures up thirty one down, futures up. That 223 00:11:54,640 --> 00:11:56,720 Speaker 1: future is up a hundred thirty nine points, the tenure 224 00:11:56,720 --> 00:12:00,360 Speaker 1: treasury down nine thirty seconds, the yield two point eight 225 00:12:00,480 --> 00:12:08,640 Speaker 1: six per cent. This is Bloomberg Bloomberg eleven three oh 226 00:12:08,640 --> 00:12:10,520 Speaker 1: weather more clouds than sun today with a hind her 227 00:12:10,559 --> 00:12:13,040 Speaker 1: sixty will be near seventy tomorrow under a partly the 228 00:12:13,040 --> 00:12:16,839 Speaker 1: mostly sunny sky sunshine low sixties for Saturday. Right now 229 00:12:16,920 --> 00:12:25,360 Speaker 1: forty seven in Central Park markets, headlines and breaking news 230 00:12:25,400 --> 00:12:28,000 Speaker 1: twenty four hours a day at Bloomberg dot com. The 231 00:12:28,040 --> 00:12:31,559 Speaker 1: Bloomberg business at hand at Bloomberg Quick Tape is a 232 00:12:31,600 --> 00:12:40,160 Speaker 1: Bloomberg business flash and I'm Karen Moscow. You want to 233 00:12:40,160 --> 00:12:42,280 Speaker 1: stock in next Future is on the rise. This morning 234 00:12:42,360 --> 00:12:45,240 Speaker 1: is a strong start today earnings reporting season easiest fears 235 00:12:45,240 --> 00:12:47,839 Speaker 1: of a recession in the world's largest economy. We check 236 00:12:47,920 --> 00:12:50,679 Speaker 1: the markets every fifteen minutes throughout the trading day on 237 00:12:50,800 --> 00:12:53,680 Speaker 1: Bloomberg S and P. Future is up thirty two points down, 238 00:12:53,720 --> 00:12:57,000 Speaker 1: futures up two hundred four. Nasdaq futures have one d 239 00:12:57,240 --> 00:13:00,320 Speaker 1: forty one. The decks in Germany's at one point three percent. 240 00:13:00,640 --> 00:13:03,280 Speaker 1: Ten year treasury down ten thirty seconds held two point 241 00:13:03,280 --> 00:13:05,400 Speaker 1: eight seven percent, and the yield in the two year 242 00:13:05,480 --> 00:13:08,560 Speaker 1: two point six one percent. Nine X screwed oil is 243 00:13:08,600 --> 00:13:10,760 Speaker 1: of nine tenths of a percent of ninety four cents 244 00:13:10,760 --> 00:13:13,280 Speaker 1: and a hundred three dollars fifteen cents of barrel com 245 00:13:13,440 --> 00:13:15,400 Speaker 1: xs goal down four tenths per cent or eight dollar 246 00:13:15,480 --> 00:13:18,800 Speaker 1: sixty cents at nineteen forty seven announced, the Euro one 247 00:13:18,840 --> 00:13:21,360 Speaker 1: point nine one seven against the dollar, British pound one 248 00:13:21,400 --> 00:13:23,640 Speaker 1: point three zero eight one. The end is at one 249 00:13:23,679 --> 00:13:27,040 Speaker 1: twenty seven point nine to six, and Bitcoin this morning 250 00:13:27,440 --> 00:13:29,800 Speaker 1: more than one and a half percent at forty two 251 00:13:29,800 --> 00:13:32,960 Speaker 1: thousand seventy dollars. And today we are watching for the 252 00:13:32,960 --> 00:13:35,679 Speaker 1: weekly report on initial jobless claims at at a thirty 253 00:13:35,679 --> 00:13:39,160 Speaker 1: Wall Street time, leading indicators out at ten, and sources 254 00:13:39,200 --> 00:13:42,040 Speaker 1: telling Bloomberg that senior Chinese officials have pushed back on 255 00:13:42,080 --> 00:13:44,720 Speaker 1: a set of proposed punishments for d D Global submitted 256 00:13:44,720 --> 00:13:47,839 Speaker 1: by the nation's cybersecurity regulator, leaving the future of the 257 00:13:47,880 --> 00:13:50,920 Speaker 1: troubled ride hailing giant in limbo. And that's a Bloomberg 258 00:13:51,040 --> 00:13:53,560 Speaker 1: business flash. Now it's time for a look at what's 259 00:13:53,559 --> 00:13:56,240 Speaker 1: going on around the world, and here's Muchael Barr Michael, 260 00:13:56,360 --> 00:13:58,880 Speaker 1: thank you very much, Karen. President Vladimir Putin said of 261 00:13:58,920 --> 00:14:02,600 Speaker 1: Russia has taken control role of Ukraine's Maruple. However, a 262 00:14:02,600 --> 00:14:06,360 Speaker 1: massive steel plant which put In ordered blockaded was not stormed. 263 00:14:06,679 --> 00:14:09,280 Speaker 1: More than two thousand opposing troops remain hold up in 264 00:14:09,320 --> 00:14:13,600 Speaker 1: the industrial complex in the strategic Southern ports city. The 265 00:14:13,640 --> 00:14:16,559 Speaker 1: World Health Organization says that the number of reported new 266 00:14:16,600 --> 00:14:21,560 Speaker 1: COVID nineteen cases worldwide decreased by nearly a quarter last week. Meanwhile, 267 00:14:21,600 --> 00:14:24,240 Speaker 1: the Florida court ruling that put a stop to mask 268 00:14:24,320 --> 00:14:27,560 Speaker 1: mandates will be appealed by the Justice Department. In the 269 00:14:27,680 --> 00:14:30,680 Speaker 1: NBA playoffs, the Celtics beat the Nets one fourteen one 270 00:14:30,760 --> 00:14:33,160 Speaker 1: oh seven to take a two games to ZIP lead 271 00:14:33,200 --> 00:14:36,600 Speaker 1: in their series. In MLB, the Yankees one, the Giants 272 00:14:36,640 --> 00:14:39,080 Speaker 1: beat the Mats five to the Red Sox lost the 273 00:14:39,200 --> 00:14:42,480 Speaker 1: Orioles shut out the A's one ZIP. In the NHL, 274 00:14:42,560 --> 00:14:44,720 Speaker 1: the Capital's lost to the Golden Nights in overtime. For 275 00:14:44,960 --> 00:14:47,840 Speaker 1: three Global News twenty four hours a day on air 276 00:14:47,960 --> 00:14:51,440 Speaker 1: and on Bloomberg Quicktake, powered by more than twenty seven 277 00:14:51,560 --> 00:14:54,280 Speaker 1: hundred journalists and analysts more than a hundred twenty countries. 278 00:14:54,640 --> 00:14:57,720 Speaker 1: Michael Barr and this is Bloomberg. Nathan, Okay, Michael, thank 279 00:14:57,760 --> 00:14:59,760 Speaker 1: you for coming up to six twenty on Wall Street 280 00:14:59,800 --> 00:15:03,480 Speaker 1: Line from the Bloomberg Interactive Broker Studios. This is Bloomberg 281 00:15:03,640 --> 00:15:06,800 Speaker 1: Daybreak and central bank policy could be a major focus 282 00:15:06,840 --> 00:15:10,560 Speaker 1: for investors today as Fed Chair Jerome Powell gets ready 283 00:15:10,600 --> 00:15:13,240 Speaker 1: to speak for one last time before the central Bank 284 00:15:13,280 --> 00:15:15,960 Speaker 1: goes into blackout ahead of the main meeting from More. 285 00:15:16,040 --> 00:15:20,120 Speaker 1: We're joined this morning by Bloomberg Economics correspondent Michael McKee. 286 00:15:20,200 --> 00:15:22,760 Speaker 1: Might great to speak with you this morning. Of course, 287 00:15:22,800 --> 00:15:25,840 Speaker 1: a lot of attention on the rate path. Traders have 288 00:15:26,240 --> 00:15:30,120 Speaker 1: pretty much baked in a half percent rate increase next month. 289 00:15:30,560 --> 00:15:33,880 Speaker 1: Do you think Powell talks that one way or the other. 290 00:15:35,480 --> 00:15:38,120 Speaker 1: He may allude to it, It isn't the main point 291 00:15:38,240 --> 00:15:40,640 Speaker 1: of the event. It's sponsored by the I m F 292 00:15:40,680 --> 00:15:43,640 Speaker 1: and he's speaking on a panel with Christine Legard of 293 00:15:43,720 --> 00:15:47,640 Speaker 1: the European Central Bank, and I think the in theory, 294 00:15:47,680 --> 00:15:50,680 Speaker 1: it's what the economic outlook is. Now. What traders may 295 00:15:50,760 --> 00:15:54,840 Speaker 1: do is try to read into his comments how far 296 00:15:55,200 --> 00:15:57,600 Speaker 1: they think he's saying the Fed is going to have 297 00:15:57,680 --> 00:16:00,360 Speaker 1: to move interest rates and what the recession risk is. 298 00:16:01,240 --> 00:16:04,880 Speaker 1: But they're pretty much set now with the markets pricing 299 00:16:04,880 --> 00:16:07,400 Speaker 1: in the fifty basis point moves, so he, I would imagine, 300 00:16:07,440 --> 00:16:10,280 Speaker 1: doesn't want to upset that thought too much. Are you 301 00:16:10,360 --> 00:16:14,600 Speaker 1: expecting that we'll get some more clarity on the outlook 302 00:16:14,600 --> 00:16:17,360 Speaker 1: given what we saw from the Beige Book yesterday that 303 00:16:17,360 --> 00:16:20,960 Speaker 1: it indicates an economy really firing on all cylinders, and 304 00:16:21,040 --> 00:16:24,600 Speaker 1: of course that feeding into price pressures. I don't think 305 00:16:24,640 --> 00:16:27,800 Speaker 1: we get any more specifics on where they think the 306 00:16:27,840 --> 00:16:30,760 Speaker 1: economy is going. I suspect that he will highlight the 307 00:16:30,840 --> 00:16:33,480 Speaker 1: uncertainties out there. We don't know how long the war 308 00:16:33,520 --> 00:16:36,880 Speaker 1: in Ukraine's going to last and how much that's going 309 00:16:36,920 --> 00:16:41,400 Speaker 1: to interrupt supply chains, and COVID and China interrupting supply chains, 310 00:16:41,480 --> 00:16:44,600 Speaker 1: and high energy prices, a lot of things going on. 311 00:16:45,480 --> 00:16:48,360 Speaker 1: So uh, he'll probably stick to the script that the 312 00:16:48,480 --> 00:16:51,840 Speaker 1: US is doing well and can afford a rate increase, 313 00:16:52,280 --> 00:16:56,120 Speaker 1: but not be too specific about how soon we see 314 00:16:56,120 --> 00:16:59,320 Speaker 1: the economy slowed down. How much does the script get 315 00:16:59,360 --> 00:17:04,440 Speaker 1: adhered too when we do see a number of major institutions, 316 00:17:04,480 --> 00:17:07,760 Speaker 1: including the World Bank just this week, cutting forecasts for 317 00:17:07,800 --> 00:17:12,240 Speaker 1: global growth. Well, the cut in forecast is sort of 318 00:17:12,280 --> 00:17:14,240 Speaker 1: based on the idea that there are going to be 319 00:17:14,320 --> 00:17:17,360 Speaker 1: tighter monetary policies around the world that are a result 320 00:17:17,960 --> 00:17:21,280 Speaker 1: of the higher energy prices and inflation that we're seeing. 321 00:17:21,760 --> 00:17:26,280 Speaker 1: So it's kind of circular. The FED has anticipated this 322 00:17:26,359 --> 00:17:29,600 Speaker 1: slowdown for a while now, and the World Bank I 323 00:17:29,720 --> 00:17:31,840 Speaker 1: m F for sort of joining in the consensus on 324 00:17:32,480 --> 00:17:35,840 Speaker 1: what's going to happen. But again, the real question is 325 00:17:35,960 --> 00:17:40,960 Speaker 1: how long do these external problems last. Because the more 326 00:17:41,600 --> 00:17:44,040 Speaker 1: we have problems we have with the supply chains and 327 00:17:44,080 --> 00:17:47,240 Speaker 1: the higher inflation is for energy, the tougher it is 328 00:17:47,280 --> 00:17:50,320 Speaker 1: on Europe, and then the Europeans maybe buy less stuff 329 00:17:50,320 --> 00:17:53,000 Speaker 1: from the United States. It's a giant feedback loop. And 330 00:17:53,080 --> 00:17:55,920 Speaker 1: I guess there's a big question as well about how 331 00:17:56,000 --> 00:17:59,960 Speaker 1: much of an impact central bank policy can have really 332 00:18:00,160 --> 00:18:04,040 Speaker 1: on cooling inflation when it is driven so much by 333 00:18:04,080 --> 00:18:07,800 Speaker 1: externalities like the supply chain pressures. That's a problem and 334 00:18:07,840 --> 00:18:09,280 Speaker 1: a lot of people are going to be watching the 335 00:18:09,320 --> 00:18:12,840 Speaker 1: FED to see if they can thread this needle, because, 336 00:18:12,880 --> 00:18:16,000 Speaker 1: as you say, it's a lot based on supply. Uh 337 00:18:16,119 --> 00:18:18,399 Speaker 1: demand is the only thing they can really control, so 338 00:18:18,600 --> 00:18:21,240 Speaker 1: they will try to ease demand enough so that it 339 00:18:21,320 --> 00:18:24,520 Speaker 1: matches what the supply is but that's kind of hard 340 00:18:24,560 --> 00:18:27,399 Speaker 1: to do when you don't have control over what the 341 00:18:27,400 --> 00:18:29,520 Speaker 1: supply is going to be, and you don't know what 342 00:18:29,640 --> 00:18:32,280 Speaker 1: the supply is going to be. Their goal is to 343 00:18:32,320 --> 00:18:36,040 Speaker 1: try to cool the economy just enough that we don't 344 00:18:36,160 --> 00:18:40,240 Speaker 1: see a big rise in unemployment. That's never happened before 345 00:18:40,320 --> 00:18:44,760 Speaker 1: when the FED has tightened. But this time could be different, 346 00:18:44,800 --> 00:18:47,920 Speaker 1: I suppose, because everything about this time is different because 347 00:18:47,960 --> 00:18:51,800 Speaker 1: it's all COVID caused at the root of it. And 348 00:18:51,840 --> 00:18:54,520 Speaker 1: that's certainly the case in our last thirty seconds here. 349 00:18:54,640 --> 00:18:56,880 Speaker 1: What's the sense within the FED about whether the new 350 00:18:56,920 --> 00:19:01,320 Speaker 1: framework for overshooting inflation for a time at least the 351 00:19:01,320 --> 00:19:05,679 Speaker 1: target makes sense in the in the context of a 352 00:19:05,680 --> 00:19:09,520 Speaker 1: pandemic recovery. They still argue that it is a good 353 00:19:09,560 --> 00:19:11,760 Speaker 1: framework and they're going to stick with it. Some people 354 00:19:11,800 --> 00:19:13,760 Speaker 1: think that's going to have to change down the road 355 00:19:13,840 --> 00:19:17,040 Speaker 1: once they bring inflation down, But their argument is that 356 00:19:17,600 --> 00:19:21,040 Speaker 1: otherwise we get sort of stagnant growth and the marginalized 357 00:19:21,119 --> 00:19:25,359 Speaker 1: people minorities, uh, don't get the benefits of an economic expansion. 358 00:19:25,760 --> 00:19:27,520 Speaker 1: So we'll see how it comes out on the other side. 359 00:19:27,560 --> 00:19:31,320 Speaker 1: Once we see how inflation comes down, they're gonna be 360 00:19:31,400 --> 00:19:34,239 Speaker 1: very interesting conversations. Trying to watch that panel discussion at 361 00:19:34,280 --> 00:19:37,280 Speaker 1: the i m F with FED share J. Powell and 362 00:19:37,400 --> 00:19:42,240 Speaker 1: European Central Bank President Christine Lagarde. Bloomberg Terminal customers can 363 00:19:42,320 --> 00:19:46,439 Speaker 1: watch that panel discussion at live go on the Bloomberg Terminal. 364 00:19:46,840 --> 00:19:49,159 Speaker 1: Looking ahead to the market open SMP futures are up 365 00:19:49,160 --> 00:19:51,119 Speaker 1: thirty three points right now. Doubt future is up two 366 00:19:51,280 --> 00:19:53,639 Speaker 1: d ten nastact future searching right now, but a hundred 367 00:19:53,680 --> 00:19:57,200 Speaker 1: forty five points or one percent, tend your treasury down 368 00:19:57,760 --> 00:20:01,520 Speaker 1: ten thirty seconds. The yield two point eight seven percent. 369 00:20:01,840 --> 00:20:09,280 Speaker 1: This is Bloomberg Bloomberg eleven three oh weather more clouds 370 00:20:09,280 --> 00:20:12,280 Speaker 1: than sun up or fifties today. We'll get near seventy 371 00:20:12,320 --> 00:20:15,960 Speaker 1: tomorrow with sunshine back in the low sixties, partly sunny 372 00:20:15,960 --> 00:20:22,800 Speaker 1: by Saturday. Right now forty seven in Central Park, broadcasting 373 00:20:22,880 --> 00:20:26,600 Speaker 1: live from the Bloomberg Interactive Broker Studio in New York. 374 00:20:26,720 --> 00:20:31,360 Speaker 1: Bloomberg Elving freed to Washington, d C. Bloomberg on to Boston, 375 00:20:31,480 --> 00:20:34,880 Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine 376 00:20:35,000 --> 00:20:37,760 Speaker 1: sixty to the country, Sirius XM to the one nine 377 00:20:38,160 --> 00:20:41,320 Speaker 1: and around the globe. The Bloomberg Business at and Bloomberg 378 00:20:41,400 --> 00:20:51,200 Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's six thirty 379 00:20:51,200 --> 00:20:53,600 Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm 380 00:20:53,680 --> 00:20:56,080 Speaker 1: Karen Moss. Yeah, and we're just about three hours away 381 00:20:56,080 --> 00:20:58,240 Speaker 1: from the open of US trading. Time for the five 382 00:20:58,280 --> 00:21:00,480 Speaker 1: things you need to notice start your day. Brought to 383 00:21:00,560 --> 00:21:04,040 Speaker 1: you by Interactor Broker's Global Analyst. It helps you find 384 00:21:04,040 --> 00:21:07,720 Speaker 1: new global investment opportunities. To diversify your portfolio and discover 385 00:21:07,840 --> 00:21:11,359 Speaker 1: undervalued companies. Then we have greater growth potential. Try ibk 386 00:21:11,480 --> 00:21:14,399 Speaker 1: our Global Analysts today at ibk R dot com slash 387 00:21:14,440 --> 00:21:18,480 Speaker 1: g a up. First, Russian President Vladimir Putin says his 388 00:21:18,560 --> 00:21:21,200 Speaker 1: country has taken control of the Ukrainian port city of 389 00:21:21,280 --> 00:21:25,240 Speaker 1: Mariopool as it continues it's offensive in the east and south. 390 00:21:25,480 --> 00:21:30,000 Speaker 1: Ukraine's President vladimir's Lensky says the situation remains severe. We meantime, Karen, 391 00:21:30,080 --> 00:21:34,560 Speaker 1: Russia test fired a new intercontinental ballistic missile yesterday. A 392 00:21:34,680 --> 00:21:38,280 Speaker 1: day earlier, Pentagon spokesman John Kirby discussed Rush's nuclear arsenal 393 00:21:38,400 --> 00:21:43,280 Speaker 1: and the u S defense capabilities. We are actively monitoring 394 00:21:43,440 --> 00:21:47,080 Speaker 1: every single day and even today the Secretary remains comfortable 395 00:21:47,200 --> 00:21:50,879 Speaker 1: that we have an appropriate strategic deterrent posture in place. 396 00:21:51,000 --> 00:21:54,000 Speaker 1: Pentagon spokesman John Kirby released a statement yesterday saying the 397 00:21:54,080 --> 00:21:56,080 Speaker 1: U s knew the missile test was happening and did 398 00:21:56,080 --> 00:21:58,840 Speaker 1: not deem it a threat. Well, Nathan staying in Washington, 399 00:21:58,880 --> 00:22:01,080 Speaker 1: the c d C as jam the Justice Department to 400 00:22:01,160 --> 00:22:04,199 Speaker 1: appeal a judges ruling that throughout a mass requirement for 401 00:22:04,280 --> 00:22:07,480 Speaker 1: planes and public transportation, setting up a court battle over 402 00:22:07,520 --> 00:22:10,000 Speaker 1: the decision. The Department said earlier this week it stood 403 00:22:10,000 --> 00:22:12,480 Speaker 1: ready to appeal the ruling. Well. Turning to the economy 404 00:22:12,520 --> 00:22:15,080 Speaker 1: care and Federal Reserve Charge, Rome Pal speaks publicly for 405 00:22:15,080 --> 00:22:17,879 Speaker 1: the final time before the Fed's blackout period, which begins 406 00:22:17,880 --> 00:22:21,040 Speaker 1: Friday at midnight. Pale may reinforce FETs the federal raise 407 00:22:21,119 --> 00:22:24,240 Speaker 1: interest rates half percentage point next month. Pale will speak 408 00:22:24,240 --> 00:22:26,399 Speaker 1: at an event today before taking part in a panel 409 00:22:26,440 --> 00:22:29,520 Speaker 1: hosted by the International Monetary Fund. And to the markets now, 410 00:22:29,640 --> 00:22:32,320 Speaker 1: Nathan shares a Teslab more than seven percent in early 411 00:22:32,359 --> 00:22:34,879 Speaker 1: trading following a robust earning support, and we get the 412 00:22:34,920 --> 00:22:37,600 Speaker 1: latest line from Bloomberg's rand A Young. Good morning, Rania, 413 00:22:37,640 --> 00:22:40,480 Speaker 1: Good morning, Karen, Tesla is reporting a record profit for 414 00:22:40,560 --> 00:22:44,040 Speaker 1: Q one, boosted by strong demand for its electric vehicles 415 00:22:44,240 --> 00:22:47,720 Speaker 1: and despite industry wide supply chain challenges for key components 416 00:22:47,760 --> 00:22:52,159 Speaker 1: like semiconductors and high prices. CEO Elon Musk says Tesla 417 00:22:52,280 --> 00:22:55,040 Speaker 1: should be able to make up for any production shortfalls 418 00:22:55,320 --> 00:22:57,159 Speaker 1: so to help mitigate the effect of all that the 419 00:22:57,200 --> 00:23:00,840 Speaker 1: company has been raising vehicle prices, and Musk predicts Tesla 420 00:23:00,960 --> 00:23:03,760 Speaker 1: is on track to expand production to more than one 421 00:23:03,800 --> 00:23:07,080 Speaker 1: point five million vehicles this year. That's compared with about 422 00:23:07,200 --> 00:23:11,520 Speaker 1: nine thirty six thousand deliveries last year. Live in New York, 423 00:23:11,560 --> 00:23:13,639 Speaker 1: I'm gonna need a young Bloomberg day break, all right, 424 00:23:13,640 --> 00:23:16,520 Speaker 1: we need to thank you. And after reporting disappointing earnings, 425 00:23:16,520 --> 00:23:20,280 Speaker 1: Netflix plunged thirty five percent yesterday. Right now the shares 426 00:23:20,280 --> 00:23:23,320 Speaker 1: are down another one point four percent and a t 427 00:23:23,480 --> 00:23:26,000 Speaker 1: n T is at one point one percent. It's earnings 428 00:23:26,040 --> 00:23:29,160 Speaker 1: just crossing the Bloomberg and they beat analysts expectations. That's 429 00:23:29,160 --> 00:23:30,840 Speaker 1: the five things you need to notice start your day. 430 00:23:30,880 --> 00:23:34,560 Speaker 1: Brought to you by Interactive Brokers Local Headlines. Straight ahead, 431 00:23:38,400 --> 00:23:40,760 Speaker 1: all right, thank you. Hearing six Wall Street, forty seven 432 00:23:40,800 --> 00:23:43,560 Speaker 1: degrees in Central Park. That overturned tractor trailer in the 433 00:23:43,560 --> 00:23:46,560 Speaker 1: northbound New Jersey Turnpike. Still the issue of the morning. 434 00:23:46,560 --> 00:23:48,800 Speaker 1: We'll get to the details shortly in traffic. First, Michael 435 00:23:48,840 --> 00:23:50,480 Speaker 1: Barr with what else is going on in New York 436 00:23:50,520 --> 00:23:53,040 Speaker 1: and around the world. Good morning, Michael, Good morning Nathan. 437 00:23:53,040 --> 00:23:57,840 Speaker 1: New Jersey begins legalized recreational pond sales today. Amy of 438 00:23:57,960 --> 00:24:00,720 Speaker 1: the a c l U says the law also has 439 00:24:00,720 --> 00:24:03,680 Speaker 1: a reach back effect to when it used to be illegal. 440 00:24:03,960 --> 00:24:06,600 Speaker 1: After decriminalization was signed into law, our courts started the 441 00:24:06,600 --> 00:24:11,960 Speaker 1: process of expunging over three hundred sixty marijuana related records 442 00:24:12,280 --> 00:24:16,560 Speaker 1: for people across the state. Amyello with the a c LU. Meanwhile, 443 00:24:16,680 --> 00:24:19,960 Speaker 1: legal pot is off limits to police officers. With COVID 444 00:24:20,040 --> 00:24:22,960 Speaker 1: cases spiking across the country, New York is keeping its 445 00:24:23,119 --> 00:24:27,199 Speaker 1: mass mandate in place at JFK and LaGuardia and on 446 00:24:27,280 --> 00:24:31,320 Speaker 1: public transit. Governor Kathy Hokel, we're not panicking about this, 447 00:24:31,400 --> 00:24:33,800 Speaker 1: We're not changing, but we also want to make sure 448 00:24:33,800 --> 00:24:37,359 Speaker 1: that our hearts smart about this, Governor. A suspect is 449 00:24:37,400 --> 00:24:40,160 Speaker 1: dead and a police officer critically injured, and what police 450 00:24:40,200 --> 00:24:43,800 Speaker 1: and yonkers say was a gun investigation arrest gone bad. 451 00:24:44,400 --> 00:24:47,760 Speaker 1: Yonkers Police Commissioner John Mueller said cops were following a 452 00:24:47,920 --> 00:24:52,000 Speaker 1: lead when there are three suspects ducked into bodega. When 453 00:24:52,040 --> 00:24:55,240 Speaker 1: police followed them into the store, Mueller says one tried 454 00:24:55,240 --> 00:24:57,920 Speaker 1: to flee and shot the detective. He was shot once 455 00:24:58,600 --> 00:25:01,119 Speaker 1: in the in the stomach. He has damage to his 456 00:25:02,119 --> 00:25:06,680 Speaker 1: UH colin, his intestines, and his kidneys. Commissioner Mueller says 457 00:25:06,680 --> 00:25:09,119 Speaker 1: the suspect was shot and killed by another officer at 458 00:25:09,119 --> 00:25:11,960 Speaker 1: the scene. The Florida House is expected to take up 459 00:25:11,960 --> 00:25:15,240 Speaker 1: a bill today repealing the law allowing Walt Disney World 460 00:25:15,600 --> 00:25:18,720 Speaker 1: to operate as a private government over its properties in 461 00:25:18,760 --> 00:25:22,440 Speaker 1: the state. The gop led States Senate has passed the bill, 462 00:25:23,040 --> 00:25:26,359 Speaker 1: escalating the feud with the entertainment giant over its opposition 463 00:25:26,359 --> 00:25:29,560 Speaker 1: to what critics call the Don't Say Gay Law. The 464 00:25:29,640 --> 00:25:34,439 Speaker 1: speaker of Florida's House, Representative Chris Sprowls, spoke with Bloomberg's 465 00:25:34,480 --> 00:25:37,320 Speaker 1: Joe Matthew about the law. Yeah, their own city, they 466 00:25:37,400 --> 00:25:40,600 Speaker 1: run it themselves, they tax themselves. They have the ability 467 00:25:40,640 --> 00:25:43,760 Speaker 1: to build a nuclear power plant. That is nothing that 468 00:25:43,800 --> 00:25:45,760 Speaker 1: has given to any corporations. That is something that was 469 00:25:45,800 --> 00:25:49,280 Speaker 1: specifically done for Disney way back when and candidly, which 470 00:25:49,320 --> 00:25:52,800 Speaker 1: just never revisited after the constitutional changes that happened in 471 00:25:52,840 --> 00:25:57,399 Speaker 1: the sifty Representative Sprowlse spoke with our Washington correspondential, Matthew 472 00:25:57,440 --> 00:26:00,439 Speaker 1: on Bloomberg Sound On Catch the program we days at 473 00:26:00,480 --> 00:26:03,640 Speaker 1: five pm on Bloomberg Radio. The proposal could have huge 474 00:26:03,720 --> 00:26:08,240 Speaker 1: tax implications for Disney. Series of theme parks transformed Orlando 475 00:26:08,400 --> 00:26:12,080 Speaker 1: into one of the world's most popular tourist destinations. Global 476 00:26:12,119 --> 00:26:14,520 Speaker 1: News twenty four hours a day on air and on 477 00:26:14,600 --> 00:26:17,720 Speaker 1: Bloomberg quick Take, powered by more than twenty seven hundred 478 00:26:17,760 --> 00:26:20,159 Speaker 1: journalists and analysts more than a hundred twenty countries. I'm 479 00:26:20,200 --> 00:26:27,359 Speaker 1: Michael bar This is Bloomberg, Nathan, Michael, Thank you. Just 480 00:26:27,400 --> 00:26:29,720 Speaker 1: about six thirty six on Wall Street, John Stash, I 481 00:26:29,800 --> 00:26:32,119 Speaker 1: was here at the Bloomberg Sports Update. Thanks Nathan. The 482 00:26:32,160 --> 00:26:35,280 Speaker 1: Nets coming home after two losses in Boston. They certainly 483 00:26:35,320 --> 00:26:38,320 Speaker 1: could have won both games. Lost the series opener the Buzzer, 484 00:26:38,359 --> 00:26:41,800 Speaker 1: and led game to by seventeen points, never trailed until 485 00:26:41,800 --> 00:26:44,080 Speaker 1: the fourth quarter when the Celtics had a twenty three 486 00:26:44,119 --> 00:26:47,600 Speaker 1: to four run Boston won fourteen one oh seven. Nets 487 00:26:47,600 --> 00:26:49,399 Speaker 1: are not gonna win when their two stars struggle and 488 00:26:49,480 --> 00:26:52,000 Speaker 1: Kevin Duran and Kyrie irving together in the second half 489 00:26:52,320 --> 00:26:55,880 Speaker 1: shot one for seventeen. Katie also had a subpar Game one. 490 00:26:56,000 --> 00:26:58,639 Speaker 1: He was asked how the Celtics through defending nun playing 491 00:26:59,200 --> 00:27:01,359 Speaker 1: two or three guys with some times on multiple the 492 00:27:02,840 --> 00:27:05,040 Speaker 1: you know, looking up actions when I run, all stuff 493 00:27:05,119 --> 00:27:07,640 Speaker 1: is I'll see Horford leaving his man to come over 494 00:27:07,640 --> 00:27:10,440 Speaker 1: and hit me. Sometimes they're just playing two or three guys, 495 00:27:10,480 --> 00:27:12,600 Speaker 1: hit me and wherever I go, you know, And that's 496 00:27:12,640 --> 00:27:15,280 Speaker 1: just the nature the beast and the playoffs. In three 497 00:27:15,320 --> 00:27:18,120 Speaker 1: Saturday night at Barkley's Philadelphia, Wan and overtime at Toronto 498 00:27:18,240 --> 00:27:20,760 Speaker 1: to go up three zips. Chicago wanted Milwaukee to tie 499 00:27:20,800 --> 00:27:23,480 Speaker 1: up that series. Met starting pitching has been so good. 500 00:27:23,560 --> 00:27:26,080 Speaker 1: Not last night. Giants got to Chris Bassett for three first, 501 00:27:26,119 --> 00:27:28,439 Speaker 1: getting runs of Brandon Belt homer the second. The Giants 502 00:27:28,440 --> 00:27:31,240 Speaker 1: won five to two met shutout until the seventh inning. 503 00:27:31,359 --> 00:27:33,400 Speaker 1: Day game today at City Field and Bucks show. Walter 504 00:27:33,480 --> 00:27:35,720 Speaker 1: will be back managing. He missed last night go to 505 00:27:35,760 --> 00:27:38,919 Speaker 1: a medical procedure. Yankees having Mattenee in Detroit, going for 506 00:27:38,960 --> 00:27:41,800 Speaker 1: the suite. They won five three five strong unnings from 507 00:27:41,880 --> 00:27:44,639 Speaker 1: Luis Severino, a home run for Anthony Rizzo go ahead 508 00:27:44,760 --> 00:27:48,120 Speaker 1: RBI single, seventh inning by Isaiah kind of Pleva. Jay 509 00:27:48,119 --> 00:27:51,400 Speaker 1: Wright left Hofstra twenty two years ago for Villanova, where 510 00:27:51,400 --> 00:27:53,280 Speaker 1: he became a Hall of Famer as he coached the 511 00:27:53,280 --> 00:27:58,240 Speaker 1: Wildcats to two national championships. Right surprisingly retiring at age sixty, 512 00:27:58,240 --> 00:28:02,000 Speaker 1: and Villanova is replacing him with Fordham coach Kyle Neptune, 513 00:28:02,280 --> 00:28:05,360 Speaker 1: until a year ago, had been a Villenois lust John 514 00:28:05,440 --> 00:28:09,080 Speaker 1: Stature Bloomberg Sports Nathan Okay, John Thanks sixty seven on 515 00:28:09,160 --> 00:28:10,879 Speaker 1: Wall Street. Time to take a look at stock, some 516 00:28:10,920 --> 00:28:13,000 Speaker 1: of the names moving in the pre market with Bloomberg 517 00:28:13,040 --> 00:28:17,240 Speaker 1: Radio and TV Markets correspondent Crety Goopta. Obviously Crety. Tesla 518 00:28:17,720 --> 00:28:20,200 Speaker 1: has been a big stock to watch this morning. Yeah, absolutely, 519 00:28:20,200 --> 00:28:23,520 Speaker 1: t s L as your taker, up seven point two percent. 520 00:28:23,640 --> 00:28:26,359 Speaker 1: This comes after record first quarter profits that of course 521 00:28:26,359 --> 00:28:29,680 Speaker 1: beat those estimates, but they're also predicting production that's going 522 00:28:29,720 --> 00:28:32,120 Speaker 1: to grow at a very fast cliff for the rest 523 00:28:32,119 --> 00:28:35,040 Speaker 1: of the year despite these supply chain challenges. Now, Nathan, 524 00:28:35,080 --> 00:28:36,520 Speaker 1: we know that one of the big issues when it 525 00:28:36,520 --> 00:28:39,520 Speaker 1: came to Tesla was its Shanghai factory that had gotten 526 00:28:39,520 --> 00:28:42,320 Speaker 1: shut down with the COVID lockdowns there. And remember Shanghai 527 00:28:42,480 --> 00:28:45,160 Speaker 1: actually is really important to Tesla's bottom line because the 528 00:28:45,240 --> 00:28:48,920 Speaker 1: margins are much better in Shanghai. The supply chain is localized, 529 00:28:49,000 --> 00:28:51,240 Speaker 1: is very close, so if you need to get say metal, 530 00:28:51,360 --> 00:28:54,040 Speaker 1: or if you need to get chips, it's in the region. 531 00:28:54,120 --> 00:28:58,120 Speaker 1: I think the closest metal factory that tests actually used 532 00:28:58,120 --> 00:28:59,800 Speaker 1: in Shanghai's only a couple of miles away from the 533 00:28:59,840 --> 00:29:03,320 Speaker 1: actual Tesla factory. So this was a really significant piece. 534 00:29:03,520 --> 00:29:06,160 Speaker 1: But they're actually saying that Tesla's on track to expand 535 00:29:06,240 --> 00:29:10,320 Speaker 1: production to more than one point five million vehicles this year. 536 00:29:10,480 --> 00:29:13,080 Speaker 1: That's about six growth and should make up for any 537 00:29:13,160 --> 00:29:15,560 Speaker 1: production losses in the first half of the year from 538 00:29:15,680 --> 00:29:19,120 Speaker 1: that Shanghai shutdown. Remember they're also ramping up a factory 539 00:29:19,120 --> 00:29:22,080 Speaker 1: in Austin, Texas and Berlin as well. So um, really 540 00:29:22,120 --> 00:29:24,640 Speaker 1: all good news from Tesla, and analysts very upbeat about 541 00:29:24,640 --> 00:29:27,480 Speaker 1: a t s l A up seven point two. Now 542 00:29:27,480 --> 00:29:31,280 Speaker 1: we're also seeing some upbeat sentiment for the airlines this morning. 543 00:29:31,400 --> 00:29:33,360 Speaker 1: Very interesting there. Yeah, I mean this is gonna be 544 00:29:33,400 --> 00:29:36,360 Speaker 1: an earning story. Remember, airlines have been struggling to really 545 00:29:36,400 --> 00:29:39,720 Speaker 1: get kind of a hold of of the profitability story. 546 00:29:39,920 --> 00:29:42,000 Speaker 1: But United coming out after the bell I think really 547 00:29:42,000 --> 00:29:45,120 Speaker 1: gotting overshadowed by Tesla, but still some good earnings. U 548 00:29:45,120 --> 00:29:48,600 Speaker 1: A L up eight percent. They forecasted a profit for 549 00:29:48,800 --> 00:29:52,400 Speaker 1: the year after a first quarter loss. UH. Consumers basically 550 00:29:52,880 --> 00:29:55,680 Speaker 1: planning more summer travel, but also a ramp up of 551 00:29:55,720 --> 00:29:58,000 Speaker 1: business travel room you know, business travels where you get 552 00:29:58,040 --> 00:30:00,560 Speaker 1: a lot of the profits or lot of the kind 553 00:30:00,600 --> 00:30:03,720 Speaker 1: of lucrative business for some of these airlines. And remember 554 00:30:03,800 --> 00:30:06,480 Speaker 1: this comes in the face of really high jet fuel costs, 555 00:30:06,480 --> 00:30:08,880 Speaker 1: inflation still playing them, but they're saying, you know, we 556 00:30:08,880 --> 00:30:11,720 Speaker 1: can overcome it, just given that business travel addition. So 557 00:30:11,800 --> 00:30:14,160 Speaker 1: once again U A L is your taker up eight percent, Nathan. 558 00:30:14,200 --> 00:30:17,000 Speaker 1: We're also watching American Airlines this morning. They are due 559 00:30:17,040 --> 00:30:19,800 Speaker 1: to report earnings expected to be around the similar lines 560 00:30:19,840 --> 00:30:23,040 Speaker 1: of United. We also heard from Delta that the profitability 561 00:30:23,080 --> 00:30:26,560 Speaker 1: story is there as well. Nevertheless, airlines as a whole, 562 00:30:26,760 --> 00:30:29,040 Speaker 1: U A L up eight percent for United, d A 563 00:30:29,320 --> 00:30:31,479 Speaker 1: L for Delta up two and a half percent, an 564 00:30:31,480 --> 00:30:34,720 Speaker 1: American Airlines A L up five percent. When we get 565 00:30:34,720 --> 00:30:36,920 Speaker 1: those earnings headlines, we will of course bring them to 566 00:30:36,960 --> 00:30:40,640 Speaker 1: you absolutely. Bloomberg Radio on TV Markets correspondent creety goop 567 00:30:40,720 --> 00:30:42,920 Speaker 1: to keep it on top of all the earnings and 568 00:30:43,000 --> 00:30:45,520 Speaker 1: the stocks moving in the pre market. Looking ahead to 569 00:30:45,560 --> 00:30:48,800 Speaker 1: the open, futures are moving higher. Right now we have 570 00:30:49,000 --> 00:30:52,479 Speaker 1: SMP futures up thirty five points, STAFF futures up two. 571 00:30:53,600 --> 00:30:55,520 Speaker 1: NASAC Future is leading the way with a gain of 572 00:30:55,520 --> 00:30:58,360 Speaker 1: a hundred fifty four points or one point one percent. 573 00:30:58,720 --> 00:31:01,800 Speaker 1: Ten Your treasury down on ten thirty seconds, the yield 574 00:31:02,160 --> 00:31:05,800 Speaker 1: two seven percent, yield on the two year two point 575 00:31:05,880 --> 00:31:10,160 Speaker 1: six one per cent. More weapons coming to Ukraine and 576 00:31:10,360 --> 00:31:13,880 Speaker 1: the mask mandate in the air got to be challenged 577 00:31:14,160 --> 00:31:17,440 Speaker 1: Bloomberg's and Marie Hordern joins us from the nation's capital. Next, 578 00:31:17,560 --> 00:31:24,160 Speaker 1: this is Bloomberg Bloomberg eleven three oh weather. More clouds 579 00:31:24,160 --> 00:31:26,600 Speaker 1: than sun today with a high your sixty cold at 580 00:31:26,640 --> 00:31:30,200 Speaker 1: seventy tomorrow with sunshine. It'll be partly sunny, low sixties 581 00:31:30,240 --> 00:31:38,000 Speaker 1: by Saturday. Right now forty seven degrees in Central Park. Markets. 582 00:31:38,080 --> 00:31:41,160 Speaker 1: Headlines and breaking news twenty four hours a day at 583 00:31:41,200 --> 00:31:44,600 Speaker 1: Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg 584 00:31:44,640 --> 00:31:53,520 Speaker 1: Quick Tape. This is a Bloomberg Business Flash and I'm 585 00:31:53,560 --> 00:31:55,720 Speaker 1: Karen Moscow. This update brought to you by b n 586 00:31:55,840 --> 00:31:58,520 Speaker 1: y Melons Perishing learned by the world's most sophisticated wealth 587 00:31:58,560 --> 00:32:01,479 Speaker 1: management and institutional firm rely on Pershing to help them 588 00:32:01,480 --> 00:32:05,120 Speaker 1: improve profitability, create efficiency, attract talent, and manage risk at 589 00:32:05,160 --> 00:32:08,400 Speaker 1: Pershing dot Com. Future is on the rise this morning. 590 00:32:08,440 --> 00:32:10,200 Speaker 1: We go to the first Word Breaking news Dance for 591 00:32:10,200 --> 00:32:13,000 Speaker 1: today's morning call, and here's Bill Maloney. Bill, good morning, 592 00:32:13,480 --> 00:32:16,080 Speaker 1: Good morning, Karen. That's right. US futures are firmly in 593 00:32:16,120 --> 00:32:18,880 Speaker 1: the green right now, helped by positive earnings from Tesla. 594 00:32:18,960 --> 00:32:21,800 Speaker 1: Doubt Future currently up two hundred and seventeen points. S 595 00:32:21,840 --> 00:32:24,240 Speaker 1: and b S gained thirty six will. Nasdaq futures rise 596 00:32:24,480 --> 00:32:27,320 Speaker 1: by a hundred and sixty one US ten year old 597 00:32:27,320 --> 00:32:30,200 Speaker 1: at two point eight seven percent, Gold is down twelve, 598 00:32:30,240 --> 00:32:33,080 Speaker 1: Oil trading higher, and Bitcoin is up by one point 599 00:32:33,120 --> 00:32:36,240 Speaker 1: eight percent. Hong Kong fell one point three percent overnight, 600 00:32:36,280 --> 00:32:38,280 Speaker 1: while up and markets are in the green, led by 601 00:32:38,320 --> 00:32:40,880 Speaker 1: games in France and Germany. Back in the US on 602 00:32:40,920 --> 00:32:44,600 Speaker 1: the economic Frinday thirty US initial jobs claims and Philly 603 00:32:44,720 --> 00:32:48,000 Speaker 1: fed after the bells night. Tesla did report EPs beat 604 00:32:48,120 --> 00:32:51,000 Speaker 1: Smiths shares her up seven percent in the pre market 605 00:32:51,320 --> 00:32:54,520 Speaker 1: regarding earnings this morning, a T and t EPs beat estimates. 606 00:32:54,560 --> 00:32:57,720 Speaker 1: And in other news, Bill Ackman sold his Netflix position 607 00:32:57,760 --> 00:33:01,240 Speaker 1: after losing about four hundred and thirty five million, Grabbing 608 00:33:01,240 --> 00:33:03,640 Speaker 1: things up over at RBC, Chevron was cut to sect 609 00:33:03,640 --> 00:33:07,320 Speaker 1: to perform excellent, raised outperform, and Tessa's price starget was 610 00:33:07,400 --> 00:33:11,720 Speaker 1: raised to eleven. Live from the first Breaking News Descomb 611 00:33:11,720 --> 00:33:14,040 Speaker 1: Boo Maloney Camp all right, Bill, thank you, and to 612 00:33:14,040 --> 00:33:16,320 Speaker 1: hear live breaking news of your Bloomberg time squawk on 613 00:33:16,360 --> 00:33:19,840 Speaker 1: your terminal squ a WK. That's a Bloomberg business flash. 614 00:33:19,840 --> 00:33:21,960 Speaker 1: Now here's Michael Barrow with more on what's going on 615 00:33:22,040 --> 00:33:24,640 Speaker 1: around the world. Michael Ryan, thank you very much. President 616 00:33:24,720 --> 00:33:28,960 Speaker 1: Vladimir Putin declared that Russia had seized Ukraine's Mariupol, even 617 00:33:29,000 --> 00:33:32,800 Speaker 1: as his defense minister said more than two thousand opposing 618 00:33:32,840 --> 00:33:36,080 Speaker 1: troops remain hold up and an industrial complex in these 619 00:33:36,120 --> 00:33:40,040 Speaker 1: strategic southern ports city. Putin and a televised meeting says, 620 00:33:40,080 --> 00:33:42,680 Speaker 1: taking control of such an important center in the South 621 00:33:42,720 --> 00:33:47,560 Speaker 1: as Mariopal is a success. In the NBA playoffs, Celtics 622 00:33:47,640 --> 00:33:49,880 Speaker 1: beat the Nets one fourteen, one oh seven to take 623 00:33:49,920 --> 00:33:53,320 Speaker 1: a two games to zip lead in their series. In MLB, 624 00:33:53,560 --> 00:33:55,920 Speaker 1: the Yankees one. The Giants beat the match five to 625 00:33:56,120 --> 00:33:59,160 Speaker 1: the Red Sox lost. The Orioles shut out the A's 626 00:33:59,240 --> 00:34:01,800 Speaker 1: one zip in the NHL. The Capital's lost to the 627 00:34:01,800 --> 00:34:05,320 Speaker 1: Golden Knights in overtime. For three Global News twenty four 628 00:34:05,360 --> 00:34:08,840 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 629 00:34:08,840 --> 00:34:11,759 Speaker 1: by more than twenty seven hundred journalists and analysts more 630 00:34:11,800 --> 00:34:14,759 Speaker 1: than a hundred twenty countries. I'm Michael bar This is Bloomberg. 631 00:34:16,200 --> 00:34:21,720 Speaker 1: The following commentary is from Bloomberg Opinion. Truman. I'm Jonathan Bernstein, 632 00:34:21,719 --> 00:34:25,319 Speaker 1: a columnist for Bloomberg Opinion. All unpopular presidents look to 633 00:34:25,360 --> 00:34:28,080 Speaker 1: Harry Truman. Joe Biden has more reason than most to 634 00:34:28,080 --> 00:34:31,680 Speaker 1: do so, because Truman symbolizes the difference between contemporary public 635 00:34:31,719 --> 00:34:36,120 Speaker 1: opinion and historical reputation. I'd give Biden and incomplete so far, 636 00:34:36,480 --> 00:34:39,120 Speaker 1: with a reasonable case that his accomplishments will look better 637 00:34:39,160 --> 00:34:42,239 Speaker 1: in retrospect. Biden is more likely to be remembered for 638 00:34:42,360 --> 00:34:45,200 Speaker 1: ending a misguided war in Afihanistan than botching the exit. 639 00:34:45,600 --> 00:34:47,960 Speaker 1: So far, Biden seems to be doing an excellent job 640 00:34:47,960 --> 00:34:52,440 Speaker 1: of keeping NATO together against Russia. Legislative productivity during Biden's 641 00:34:52,480 --> 00:34:55,200 Speaker 1: first two years may also seem better in hindsight. Despite 642 00:34:55,200 --> 00:34:59,080 Speaker 1: the demise of much of the democrats aspirational agenda, plenty 643 00:34:59,080 --> 00:35:03,560 Speaker 1: of legislation has past. Biden deserves considerable credit for simultaneously 644 00:35:03,600 --> 00:35:06,120 Speaker 1: restoring the normal operations of the White House and the 645 00:35:06,120 --> 00:35:09,200 Speaker 1: Executive Branch, while also bringing in a far more diverse 646 00:35:09,239 --> 00:35:12,719 Speaker 1: group of governing professionals than ever seen before. There's a 647 00:35:12,719 --> 00:35:14,919 Speaker 1: lot more, and again it's way too early to tell. 648 00:35:15,200 --> 00:35:18,040 Speaker 1: I'm confident, however, that we won't learn much about it 649 00:35:18,080 --> 00:35:21,520 Speaker 1: from his current approval ratings. I'm Jonathan Bernstein. For more opinion, 650 00:35:21,560 --> 00:35:23,840 Speaker 1: please go to Bloomberg dot com, Slash Opinion or O 651 00:35:23,960 --> 00:35:26,560 Speaker 1: P A and go on the Bloomberg terminal. This has 652 00:35:26,600 --> 00:35:30,120 Speaker 1: been Bloomberg Opinion, and you can hear Bloomberg Opinion commentaries 653 00:35:30,160 --> 00:35:33,399 Speaker 1: every weekday at this time. Terminal customers can read more 654 00:35:33,680 --> 00:35:36,200 Speaker 1: at O P I n go. We are live from 655 00:35:36,200 --> 00:35:38,880 Speaker 1: the Bloomberg Interactive Broker studios, where it's coming up to 656 00:35:39,040 --> 00:35:41,879 Speaker 1: sixty one on Wall Street. Time Now to check what's 657 00:35:41,920 --> 00:35:44,120 Speaker 1: going on in d C. Some of the top stories 658 00:35:44,160 --> 00:35:47,399 Speaker 1: in our nation's capital include President Biden promising even more 659 00:35:47,440 --> 00:35:50,840 Speaker 1: heavy weapons to Ukraine as Russia declares victory in Mariopol, 660 00:35:51,120 --> 00:35:54,920 Speaker 1: the Justice Department saying it will appeal the travel mass ruling, 661 00:35:55,320 --> 00:35:57,760 Speaker 1: and Secretary yell In walking out of a G twenty 662 00:35:57,840 --> 00:36:01,200 Speaker 1: meeting as Russia speaks, let's get want all these stories now. 663 00:36:01,239 --> 00:36:06,000 Speaker 1: Bloomberg Washington correspondent Emory Hordern joins us live from studios 664 00:36:06,280 --> 00:36:09,399 Speaker 1: in Washington, d C. And Marie, Good morning. Obviously, if 665 00:36:09,440 --> 00:36:11,520 Speaker 1: it does turn out to be true that Russia has 666 00:36:11,520 --> 00:36:14,239 Speaker 1: taken Mario Pole would be a major turn in the war. 667 00:36:14,600 --> 00:36:17,160 Speaker 1: What are we hearing at this point from the White House? 668 00:36:17,800 --> 00:36:19,680 Speaker 1: Good morning. So we haven't heard just yet from the 669 00:36:19,680 --> 00:36:23,000 Speaker 1: White House on Mario Pole specifically, but the President is 670 00:36:23,040 --> 00:36:26,520 Speaker 1: going to be giving an update on Ukraine at am. 671 00:36:26,560 --> 00:36:29,160 Speaker 1: And we have reported earlier this week that we were 672 00:36:29,239 --> 00:36:33,400 Speaker 1: expecting the administration to announce another eight hundred million in 673 00:36:33,440 --> 00:36:35,360 Speaker 1: weapons and support for Ukraine. So this could be a 674 00:36:35,360 --> 00:36:37,920 Speaker 1: moment for the President to discuss what is going on 675 00:36:38,000 --> 00:36:40,520 Speaker 1: and really a response, because we heard from President Putin 676 00:36:41,040 --> 00:36:44,080 Speaker 1: already this morning a televised meeting with his Defense Minister 677 00:36:44,120 --> 00:36:46,840 Speaker 1: Sergei Shoigu, and he's at taking control of such an 678 00:36:46,880 --> 00:36:50,000 Speaker 1: important center in the South as Mary Pole's success, we 679 00:36:50,040 --> 00:36:53,400 Speaker 1: should know that there are still two thousand opposing troops 680 00:36:53,800 --> 00:36:57,760 Speaker 1: in an industrial steel plant, and Putin had said that 681 00:36:57,960 --> 00:36:59,880 Speaker 1: I doesn't want to bombard it right now, but he 682 00:37:00,000 --> 00:37:02,440 Speaker 1: wants it blocked so in his words, not even a 683 00:37:02,480 --> 00:37:05,840 Speaker 1: fly could get through. So it sounds as though those 684 00:37:05,880 --> 00:37:09,439 Speaker 1: weapons can't come soon enough. And we have heard from 685 00:37:09,640 --> 00:37:12,680 Speaker 1: Ukrainian officials, not the least of which President Zelenski is 686 00:37:12,719 --> 00:37:16,000 Speaker 1: saying that the weapons aren't coming in quickly enough. How 687 00:37:16,080 --> 00:37:18,480 Speaker 1: is the White House reacting to that? Well, the White 688 00:37:18,520 --> 00:37:21,480 Speaker 1: House has sent now billions of dollars to Ukraine. In 689 00:37:21,560 --> 00:37:24,680 Speaker 1: terms of weaponry, the one red line really has been 690 00:37:24,760 --> 00:37:28,120 Speaker 1: fighter jets and of course the call for no fly zone. 691 00:37:28,280 --> 00:37:30,840 Speaker 1: This is something that the administration has yet been willing 692 00:37:30,880 --> 00:37:34,400 Speaker 1: to do. Um. I believe Keith at the moment is 693 00:37:34,440 --> 00:37:37,239 Speaker 1: taking aim at some others though, like Germany. And I 694 00:37:37,239 --> 00:37:40,000 Speaker 1: spoke to the the German finance minister about this yesterday and asked, 695 00:37:40,239 --> 00:37:42,840 Speaker 1: why are you so reluctant to send in this heavy weaponry? 696 00:37:43,080 --> 00:37:45,400 Speaker 1: And he really set off these three conditions for it, 697 00:37:45,840 --> 00:37:47,520 Speaker 1: one being that they want to make sure they're doing 698 00:37:47,560 --> 00:37:50,480 Speaker 1: it alongside allies, to that it doesn't draw down their 699 00:37:50,520 --> 00:37:52,440 Speaker 1: stock so much that they don't have enough to defend 700 00:37:52,480 --> 00:37:56,120 Speaker 1: their to NATO territory. And that the third is that legally, 701 00:37:56,120 --> 00:37:59,800 Speaker 1: it doesn't look like they're involved in this war legally, 702 00:38:00,160 --> 00:38:02,719 Speaker 1: so potentially there could be some swapping. I saw this 703 00:38:02,800 --> 00:38:06,320 Speaker 1: morning on one of the wires about Slovakia discussions with Germany. 704 00:38:06,480 --> 00:38:10,759 Speaker 1: Baby Slovakia will send more Soviet error weaponry and then 705 00:38:10,760 --> 00:38:14,840 Speaker 1: they would get restocked from Germany. And on top of 706 00:38:14,880 --> 00:38:19,040 Speaker 1: the weapons support for Ukraine, we're also seeing some pretty 707 00:38:19,120 --> 00:38:23,759 Speaker 1: dramatic symbolic support for Ukraine with this walkout at the 708 00:38:23,840 --> 00:38:26,799 Speaker 1: G twenty. How big a deal was this for Secretary 709 00:38:26,920 --> 00:38:30,120 Speaker 1: Yellen and other finance ministers to do this, Well, I 710 00:38:30,160 --> 00:38:31,839 Speaker 1: think you hit you hit the nail on the head 711 00:38:31,840 --> 00:38:34,279 Speaker 1: when you said it's symbolic. Right at Russia is still 712 00:38:34,320 --> 00:38:37,239 Speaker 1: part of the G twenty. Their finance ministers and other 713 00:38:37,320 --> 00:38:42,840 Speaker 1: officials are giving speeches, are are attending these virtual meetings. 714 00:38:42,880 --> 00:38:45,759 Speaker 1: But it's it is, uh, you know, quite striking to 715 00:38:45,800 --> 00:38:50,319 Speaker 1: see the Secretary of Treasury, Secretary Jannet Yellen, other finance ministers. 716 00:38:50,360 --> 00:38:54,200 Speaker 1: You had individuals like obviously Ukraine's finance minister alongside her, 717 00:38:54,640 --> 00:38:58,719 Speaker 1: but also the ECB President Christine Lagarde, Federal Reserves, J Pale, 718 00:38:58,840 --> 00:39:02,280 Speaker 1: Andrew Bailey of the b OE, Paolo Gentlone, a number 719 00:39:02,280 --> 00:39:05,719 Speaker 1: of these individuals, and I would urge our listeners to 720 00:39:05,719 --> 00:39:09,120 Speaker 1: look at Canada's Finance minister freelance Twitter because she posted 721 00:39:09,160 --> 00:39:12,560 Speaker 1: a picture of those who participated in this walkout. Now 722 00:39:12,680 --> 00:39:14,799 Speaker 1: we are going to hear from Secretary Yellen today and 723 00:39:14,840 --> 00:39:17,640 Speaker 1: I imagine the message is going to be more about 724 00:39:17,680 --> 00:39:21,560 Speaker 1: how these sanctions are impacting and crippling the Russian economy. 725 00:39:21,800 --> 00:39:24,800 Speaker 1: It's very interesting to see that picture from Christier Freeland, 726 00:39:24,800 --> 00:39:29,360 Speaker 1: all the Finance minister's masked, which leads into the next 727 00:39:29,400 --> 00:39:33,799 Speaker 1: story about mask mandates and now an appeal of that 728 00:39:33,880 --> 00:39:38,239 Speaker 1: decision that basically lifted the masks on public transit. Yeah, 729 00:39:38,280 --> 00:39:42,520 Speaker 1: it's been very confusing right following exactly what is happening 730 00:39:42,560 --> 00:39:45,200 Speaker 1: at that as a U. S. District judge earlier this 731 00:39:45,239 --> 00:39:48,960 Speaker 1: week made that revote the national mask mandate. So everyone's 732 00:39:49,000 --> 00:39:51,800 Speaker 1: been confused. But now we have firmly from the Justice 733 00:39:51,840 --> 00:39:54,400 Speaker 1: Department last night saying it is going to appeal that 734 00:39:54,480 --> 00:39:58,160 Speaker 1: Farida judges ruling. And really, Nathan, it's been all about 735 00:39:58,239 --> 00:40:01,200 Speaker 1: the pointing to the c d C. So they said 736 00:40:01,200 --> 00:40:02,719 Speaker 1: that they were going to wait and see what the 737 00:40:02,719 --> 00:40:05,040 Speaker 1: CDC had to say. In the c d C their 738 00:40:05,120 --> 00:40:07,920 Speaker 1: quote is that it's continuing the assessment that at this time, 739 00:40:08,360 --> 00:40:11,760 Speaker 1: an order requiring masking in the indoor transportation corridor remains 740 00:40:11,880 --> 00:40:15,520 Speaker 1: necessary for the public health. This really comes down to 741 00:40:15,600 --> 00:40:19,000 Speaker 1: c DC arguing that trains, airports, they're unique in terms 742 00:40:19,040 --> 00:40:21,000 Speaker 1: of disease vectors as you have a lot of people 743 00:40:21,080 --> 00:40:23,719 Speaker 1: jammed up against each other. Obviously there's gonna be a 744 00:40:23,760 --> 00:40:27,480 Speaker 1: lot of political pressure on both sides to discuss this, 745 00:40:28,160 --> 00:40:30,080 Speaker 1: but really it comes down to what does this mean 746 00:40:30,120 --> 00:40:32,040 Speaker 1: for the future. What if they have to have a 747 00:40:32,040 --> 00:40:34,560 Speaker 1: mask mandate in the future for something else, And I 748 00:40:34,600 --> 00:40:37,239 Speaker 1: think that is really why the Justice Department is going 749 00:40:37,280 --> 00:40:40,400 Speaker 1: to make this appeal. Bloomberg Washington, Corse funding and re Herder, 750 00:40:40,440 --> 00:40:42,320 Speaker 1: and thanks for this good talking with you this morning. 751 00:40:42,440 --> 00:40:45,000 Speaker 1: You can read more about all these stories on Bloomberg 752 00:40:45,040 --> 00:40:47,440 Speaker 1: dot com or on the Bloomberg terminal, and follow all 753 00:40:47,440 --> 00:40:51,719 Speaker 1: the latest on Bloomberg Radio in Washington at Bloomberg one 754 00:40:51,719 --> 00:40:54,440 Speaker 1: and one oh five point seven FM HD two. Karen 755 00:40:54,560 --> 00:40:57,400 Speaker 1: all right, Nathan sounds good at is on Wall Street 756 00:40:57,400 --> 00:40:59,640 Speaker 1: returned to News and Science and Technology Now with a 757 00:40:59,680 --> 00:41:02,120 Speaker 1: bloom k n j I T STEM report brought to 758 00:41:02,200 --> 00:41:05,120 Speaker 1: you by New Jersey Institute of Technology, rank to top 759 00:41:05,160 --> 00:41:08,440 Speaker 1: fifty national public university by US News and World Report, 760 00:41:08,719 --> 00:41:11,360 Speaker 1: and at top ten for best career placement among public 761 00:41:11,360 --> 00:41:14,680 Speaker 1: schools by the Princeton Review. More at n j I, T, DOT, 762 00:41:14,680 --> 00:41:18,560 Speaker 1: E d U and now Here's US Making news in Science, Technology, engineering, 763 00:41:18,640 --> 00:41:21,760 Speaker 1: and map. The Justice Department will appeal a federal judges 764 00:41:21,880 --> 00:41:25,279 Speaker 1: ruling that throughout a mass requirement for public transportation that 765 00:41:25,320 --> 00:41:27,239 Speaker 1: sets up a legal fight that could last beyond the 766 00:41:27,239 --> 00:41:30,000 Speaker 1: mid term elections. Many airlines have now dropped their own 767 00:41:30,000 --> 00:41:32,880 Speaker 1: mass rules, but some transit operators have left their requirement 768 00:41:33,000 --> 00:41:36,320 Speaker 1: in place. The World Health Organization says that the number 769 00:41:36,360 --> 00:41:39,279 Speaker 1: of reported new COVID cases worldwide decreased by nearly a 770 00:41:39,360 --> 00:41:42,200 Speaker 1: quarter last week. The agency said that the trend should 771 00:41:42,239 --> 00:41:45,279 Speaker 1: be interpreted with caution because several countries are changing their 772 00:41:45,280 --> 00:41:49,040 Speaker 1: testing strategies, which results in a lower overall numbers of 773 00:41:49,080 --> 00:41:52,320 Speaker 1: tests performed in cases detected. The countries are the highest 774 00:41:52,320 --> 00:41:55,560 Speaker 1: reported case numbers last week were South Korea, France, and Germany. 775 00:41:55,800 --> 00:41:58,160 Speaker 1: The highest number of new deaths are reported by the 776 00:41:58,280 --> 00:42:02,040 Speaker 1: US and Hong Kong is beginning a slow path back 777 00:42:02,080 --> 00:42:06,440 Speaker 1: to normality, has the city's worst COVID outbreak. Waynes Gyms 778 00:42:06,480 --> 00:42:10,320 Speaker 1: and sports facilities reopened today after being closed since January. 779 00:42:10,680 --> 00:42:13,080 Speaker 1: Restaurants will stay open later and people can meet in 780 00:42:13,160 --> 00:42:16,000 Speaker 1: larger groups. More restrictions will be eased in the next 781 00:42:16,080 --> 00:42:19,040 Speaker 1: few months if new cases keep dwindling. And that's a 782 00:42:19,080 --> 00:42:23,120 Speaker 1: Bloomberg and j I T Stem report Futures this morning 783 00:42:23,200 --> 00:42:26,440 Speaker 1: higher SNP future is up thirty five points now, futures 784 00:42:26,480 --> 00:42:29,600 Speaker 1: up two hundred twenty NASDAG features up one fifty three 785 00:42:29,920 --> 00:42:32,480 Speaker 1: and the tenure Treasury down eleven thirty seconds. The yeld 786 00:42:32,520 --> 00:42:35,759 Speaker 1: two point eight seven percent, yield on the two year 787 00:42:35,840 --> 00:42:39,720 Speaker 1: two point six one percent. And Bloomberg Surveillance is straight 788 00:42:39,760 --> 00:42:42,640 Speaker 1: ahead with Tom Keene, Jonathan Farrell and Lisa of Ramel 789 00:42:42,640 --> 00:42:46,560 Speaker 1: Woods for Nathan Hagar on Karen Moscow and this is 790 00:42:46,560 --> 00:42:47,160 Speaker 1: Bloomberg