Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: day Break for Wednesday, September one. Coming up this hour,
Speaker 1: Wall Street braces for today's FED decision. In j Powell
Speaker 1: news conference, Oil spikes higher after Vladimir Putin steps up
Speaker 1: his war against Ukraine. We're live with the latest, and
Speaker 1: Bank CEO s head the Capitol Hill to testify before Congress.
Speaker 1: President Biden headlines a Democratic fundraiser in New York City
Speaker 1: lost a special Master expresses skepticism about Donald Trump's legal arguments.
Speaker 1: I'm Michael Barr. More ahead, I'm h Stashown Sports, Aaron
Speaker 1: Judge in his sixty home RHMA Yankees. Then one on
Speaker 1: a walk off Grand Slam the met for the dramatic
Speaker 1: comeback victory. That's all straight ahead on Bloomberg day Break
Speaker 1: on Bloomberg eleven, Trio, New York, Bloomberg Washington, d C,
Speaker 1: Bloomberg one O six one, Boston, Bloomberg nine sixties, San Francisco,
Speaker 1: Sirius x M one nineteen and around the world on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business Act.
Speaker 1: Good morning, I'm Nathan Hagar, and I'm Karen Moscow when
Speaker 1: US Dock Index futures are rising. This morning, we're coming
Speaker 1: up to six o one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg, Guess and P futures now up about twelve
Speaker 1: points now futures of one one and NOUNCEDAY futures up seventeen.
Speaker 1: The decks in Germany is up about a tenth of
Speaker 1: upper cent and at ten your treasury of eight thirty
Speaker 1: seconds yell three point five three percent. They yield on
Speaker 1: the two year is at three point nine four percent,
Speaker 1: and Bitcoin this morning is at nineteen thousand dollars. Nathan Karen,
Speaker 1: we begin with the key meeting Wall Street's been waiting
Speaker 1: for all week. This afternoon we find out just how
Speaker 1: much the Federal Reserve raises interest rates. Let's get a
Speaker 1: preview from Bloomberg Economics correspondent Michael McKee. Federal Reserve officials
Speaker 1: are about to put numbers on the pain they've been
Speaker 1: warning of in recent weeks. The benchmark US interest rate
Speaker 1: will go up likely three quarters of a percentage point.
Speaker 1: But most importantly, they will publish new projections for the economy,
Speaker 1: which are likely to show slower growth and substantial rise
Speaker 1: in unemployment ahead. All that will be reflected in higher
Speaker 1: interest rates, and those interest rates will stay higher for longer,
Speaker 1: all of which makes the dot plot the most important
Speaker 1: news out of the meeting. It's not what the Fed
Speaker 1: does now, but what it signals about what's next. Michael McKee,
Speaker 1: Bloomberg Daybreak, Right, Michael, thank you well ahead of that decision,
Speaker 1: one former FED official is calling for the Central Bank
Speaker 1: to continue aggressive policy. Be caught up with former Atlanta
Speaker 1: Fed president Dennis Lonkheart. I believe they'll do seventy five,
Speaker 1: but I cannot fully rule out a hundred. I can
Speaker 1: rule out fifty. There's no justification for dialing back at
Speaker 1: this point, but I think, I really think the highest
Speaker 1: probability is seventy. Farmer Atlanta Fed President Dennis Lockhart made
Speaker 1: the comments in an interview with Bloomberg's Kathleen Hayes. Well.
Speaker 1: One top economists think the Fed is going too far
Speaker 1: and raising rates, Karen David Rosenberg Rosenberg Research, says the
Speaker 1: negative impact will be felt next year. Everybody applauding Power
Speaker 1: right now for doing what he's doing to cruss Yesterday's story,
Speaker 1: which is called inflation is going to be ruining the day, uh,
Speaker 1: twelve months from now, when the recession is going to
Speaker 1: be deepening and we're not gonna have any idea how
Speaker 1: we're going to get out of it. David Rosenberg Rosenberg
Speaker 1: Research made those comments on Bloomberg Surveillance. Join us for
Speaker 1: a special edition of Bloomberg Surveillance of live coverage of
Speaker 1: the FED decision. It's coming up at one thirty pm
Speaker 1: Wall Street Time on Bloomberg Radio and Television. Hell another
Speaker 1: major story we're following this morning, Nathan focuses on Russia's
Speaker 1: ongoing war in Ukraine. Moscow is preparing to escalate the conflict.
Speaker 1: Vladimir Putin is vowing to use all means necessary in
Speaker 1: the war and announced what he calls a partial mobilization.
Speaker 1: To get more from Bloomberg's Maria today O in Brussels,
Speaker 1: the war is going to continue for longer. If you
Speaker 1: thought there was a diplomatic past solution possible to this
Speaker 1: in the medium term, I mean, I think after this
Speaker 1: you can really kiss it goodbye because it's not going
Speaker 1: to happen. And then the other issue is that it
Speaker 1: does speak to some extent to the urgency of the
Speaker 1: Russian army to provide additional manpower to what is now
Speaker 1: a very messy front line for Russia, especially in the
Speaker 1: week of that counter offensive from the Ukrainian army last week.
Speaker 1: It had been an embarrassment. We had been waiting for
Speaker 1: the response, and now we have it here. Bloomberg's Maria
Speaker 1: today O says oil is spiking on news of Russia's
Speaker 1: mobilization and checking prices right now nine nights screwed oil
Speaker 1: is up two and a half percent, up two dollars
Speaker 1: sixteen cents and eighty six dollars ten cents of barrel.
Speaker 1: Brent is also up two and a half percent and
Speaker 1: ninety two cents Lakaren. Russia's invasion of Ukraine is also
Speaker 1: dominating talks at the United Nations General Assembly in New
Speaker 1: York City. Bloomberg's and Marie Hordern is there and filed
Speaker 1: this report. HUINE will be holding sham votes as soon
Speaker 1: as this weekend to absorb four regions into Russia that
Speaker 1: are part of Ukraine. We spoke to NATO Secretary of
Speaker 1: General Again Sultenberg, who says this does not change the
Speaker 1: facts on the ground. Such some votes referendums do not
Speaker 1: have any legitims and therefore they don't change the nature
Speaker 1: of the conflict. This remains a war aggression by or
Speaker 1: shy against the independent sovereign nation in Europe. Biden will
Speaker 1: be addressing the Assembly on Wednesday, and according to his
Speaker 1: National security advisor Jake Sullivan, where he will want to
Speaker 1: communicate is that he pushes back against aggressors who seek
Speaker 1: to threaten, coerce and intimidate their members, or to violently
Speaker 1: attack them. Henry Hardern Bloomberg News New York and Marie
Speaker 1: thank you back in the nation's capital. The country's biggest
Speaker 1: banks are also in focus today. Top executives had to
Speaker 1: Capital Hill for two days of testimony on the banking industry.
Speaker 1: To get that story from Bloomberg's Jeff Bellinger. House Committee
Speaker 1: hearing on banking accountability is set for today. A Senate
Speaker 1: panel will hold a hearing on annual oversight of the
Speaker 1: nation's largest banks tomorrow. The CEO of JP Moore can
Speaker 1: Chase plans to tell the lawmakers that increasing capital requirements
Speaker 1: for big banks is bad for America. Jamie Diamonds prepared
Speaker 1: remarks hit on a range of issues, and he says
Speaker 1: his firm plays an important role in the global economy.
Speaker 1: He warns of harm from arbitrary increases in capital requirements.
Speaker 1: The CEOs of Bank of America, Wells Fargo when City
Speaker 1: Group will also be heard from Jeff Bublinger Bloomberg Day Break.
Speaker 1: All right, Jeff, thanks. Another note this morning on Wall
Speaker 1: Street Banks they're likely to lose about six hundred million
Speaker 1: dollars after unloading debt for the biout of Citric Systems.
Speaker 1: Investors required significantly higher yields than banks had promised to
Speaker 1: private equity firms Vista Equity and Elliott Investment Management. That
Speaker 1: forced Goldman, Sachs, Bank of America and others to absorb
Speaker 1: the losses. And another major corporation is making hiring changes.
Speaker 1: Nathan Boeing is cutting accountants and hiring more engineers. The
Speaker 1: airplane maker plans to outsource about a hundred fifty accounting
Speaker 1: and finance jobs as it shrinks its corporate structure. At
Speaker 1: the same time, it'll increase hiring to support engineering, manufacturing,
Speaker 1: and product development. Again, future is moving higher this morning,
Speaker 1: and straight ahead, we have your latest local headlines, plus
Speaker 1: a check of sports. And this is Bloomberg Scaring six
Speaker 1: o seven on Wall Street sixty four degrees in Central Park.
Speaker 1: Still dealing with that accident clean up on the southbound
Speaker 1: Major League in New Yankee Stadium. Michael Barr is here
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. President
Speaker 1: Joe Biden headlined a fundraiser in New York last night.
Speaker 1: It raised about two million dollars for Democratic Party organizations.
Speaker 1: It featured celebrity guests, including actor Robert de Niro and
Speaker 1: Mayor Eric Adams. The event, on the night before Biden's
Speaker 1: addressed to the U n General Assembly, was held at
Speaker 1: the Manhattan home of designer and Democratic activists Henry Munio's
Speaker 1: Venezuela migrants flown to Marthas Vineyard in Massachusetts sued Florida
Speaker 1: Governor Around des Santis and as Transportation Secretary, accusing them
Speaker 1: of a fraudulent and discriminatory scheme to relocate them. Texas
Speaker 1: Sheriff has opened an investigation into the flights as well.
Speaker 1: Massachusetts Governor Charley Baker. I am very glad that the
Speaker 1: sheriff chose to open an investigation. I think that's the
Speaker 1: right thing to do. Meanwhile, Governor de Santis says many
Speaker 1: of the migrants and asylum seekers want to go to Florida,
Speaker 1: and he means to stop them. We have to go
Speaker 1: and figure out, Okay, who are those people likely to
Speaker 1: be and if you can do it at the source
Speaker 1: and divert to sanctuary jurisdictions, the chance to end up
Speaker 1: in Florida's much less. Governor Dessant has hinted of more flights.
Speaker 1: New York Mayor Eric Adams announced another sign of the
Speaker 1: city's gradual return to the pre pandemic norms, who will
Speaker 1: also provide additional flexibility to business by lifting the private
Speaker 1: sector mandate on November first. This put the choice in
Speaker 1: the hands of New York businesses and its imperative. They
Speaker 1: were asking them to continue to encourage their employees to
Speaker 1: get their vaccines and boost shots. Mayor Adams says they
Speaker 1: will continue to require its own workers to be inoculated.
Speaker 1: New York will install surveillance cameras and in subway train
Speaker 1: cars and it push the crackdown on crime underground. Governor
Speaker 1: Hokel says there will be two cameras per train car.
Speaker 1: The Special Master requested by Donald Trump to review thousands
Speaker 1: of documents the FBI ceased from his Mara Longo Home
Speaker 1: express skepticism about some of the former president's arguments. At
Speaker 1: his first hearing in the matter. U S. District Judge
Speaker 1: Raymond Derry pushed back on the Trump lawyer's position that
Speaker 1: they didn't need to detail any alleged declassifications of highly
Speaker 1: sensitive records. Hurricane Fiona is threatening to strengthen into a
Speaker 1: Category four storm as it lashes the Turks and Caicos Islands.
Speaker 1: It was forecast to squeeze pass Permuda later this week.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktech, powered by more than journalis finanalyist more
Speaker 1: than twenty countries. Michael Barr, this is Bloomberg, Nathan. Thanks Michael,
Speaker 1: coming up to six ten on All Street Time for
Speaker 1: the Bloomberg Sports Upday with John SANSJN Yathan. A memorable
Speaker 1: night at Yankee Stadium. Didn't look like it would be
Speaker 1: Yanks came up out of the night. That ain't trailing
Speaker 1: the fire. It's eight to four, errand judge of going
Speaker 1: over for three with a walk when he let off
Speaker 1: the ninth. So one more chance to join a very
Speaker 1: exclusive club. There goes deep that is hot. Cull Us
Speaker 1: funds gone. He's tied up. Baby. It's a judge and
Speaker 1: Glass this sixtieth home run of the year, and the
Speaker 1: Calso Judge matches Babe Ruth from nineteen seven. Next up,
Speaker 1: of course, Roger Maris is sixty one in sixty one.
Speaker 1: The homer made at eight to five. Yankees were hardly
Speaker 1: done against the Pirates will Crow. They loaded the bases,
Speaker 1: will still nobody out John Carlos. Stanton Houston's coming off
Speaker 1: the injured list last month was nine for seventy two
Speaker 1: with thirty strikeouts delivered a walk off grand slam laser
Speaker 1: down the left field line, Yanks one, nine to eight.
Speaker 1: The Yankee debut of Bronxville native Harrison Bader. He drove
Speaker 1: in three runs plenty of drama for the Mets. In Milwaukee,
Speaker 1: they trailed four and up in sixth in Ain't Pete
Speaker 1: Alonzo with his second three and overed as many nights,
Speaker 1: and an inning later Francisco Lindor with a game winning
Speaker 1: grand slam of his own that's won seven five to
Speaker 1: day game ahead of Atlanta. Moriy Wills has died at
Speaker 1: eighty nine, a long time Dodgers short stop. The n
Speaker 1: L m v P in nineteen sixty two when he
Speaker 1: stole a then record one hundred and four basses. A
Speaker 1: couple of Norris Trophy went in defenseman of retired P K. Suban.
Speaker 1: Only thirty three, he played for three teams, including the
Speaker 1: Devils and the Dano Chara, who's forty five one time
Speaker 1: islander has been most of his career in Boston. The
Speaker 1: six ft nine inch Jarra tallest player in NHL history.
Speaker 1: John Stash Award Bloomberg Sports Nathan Thanks john SMP futures
Speaker 1: up eight point, staff futures have seventy eight nastack futures
Speaker 1: up six points. Ten year treasury up six thirty seconds
Speaker 1: yield three point five three percent. Ahead of the FED decision,
Speaker 1: we previewed X Live with Bloomberg's Michael McKee in Washington.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather mix of
Speaker 1: sun and clouds behind your eighty today and he showers
Speaker 1: will end early tomorrow. Turned partly sunny, little cooler up
Speaker 1: for seventies only, mid sixties, sunny breezy for Friday. Right
Speaker 1: now sixty four in Central Park Markets. Headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot com
Speaker 1: the Bloomberg Business at and at Bloomberg quick Take, He's
Speaker 1: a Bloomberg business flash and I'm Karen Moscow. And the
Speaker 1: stocks are higher along with US stock index futures ahead
Speaker 1: of another expected ray hike from the Federal Reserve, and treasuries,
Speaker 1: Golden the dollar are jumping after Russian President of Vladimir
Speaker 1: pulin And stepped up his roar against Ukraine. We checked
Speaker 1: the markets every fifteen minutes throughout the trading day on
Speaker 1: Bloomberg S and P futures of about eleven points down,
Speaker 1: futures of ninety two and nastatic features up thirteen. The
Speaker 1: decks in Germany is little changed. CAC in Paris up
Speaker 1: a quarter percent, in the foot Sea one hundred up
Speaker 1: three quarters of a percent. Ten year Treasury up seven
Speaker 1: thirty seconds. You have three point five three percent. They
Speaker 1: yield on the two year three point nine five percent.
Speaker 1: NIMEX for oil is up two point four percent of
Speaker 1: two dollars four cents at eighty five dollars ninety eight
Speaker 1: cents of arrol Co makes gold up seven tenths per cent,
Speaker 1: or two dollars ten cents at sixteen eighty three. Ten
Speaker 1: announced the euro point nine one two five against the dollar,
Speaker 1: British pound one point one three four two and again
Speaker 1: one forty three point nine five and bitcoin is up
Speaker 1: about two tents of a percent at nineteen thousand dollars.
Speaker 1: And as a Bloomberg business flash, now here's Michael Barre
Speaker 1: with more on what's going on around the world. Michael Hearin,
Speaker 1: thank you very much. Russian President Vladimir Putin has announced
Speaker 1: a partial mobilization in Russia. The measure appeared to be
Speaker 1: an admission that Moscow's war against Ukraine is not going
Speaker 1: according to plan after nearly seven months of fighting. Amid
Speaker 1: recent battle field losses for the Kremlins forces, Resident Biden
Speaker 1: speaks to the UN General Assembly later this morning, ad
Speaker 1: say the President will accuse Russia, a permanent member of
Speaker 1: the Security Council, of striking at the very heart of
Speaker 1: the u N Charter for innovading Ukraine. Of course, we
Speaker 1: will carry President Biden's address live. In baseball, the Yankees
Speaker 1: beat the Pirates nine eight. Aaron Judge it is sixty
Speaker 1: at home run this season, one away from Roger Mara's
Speaker 1: American League record. The Mets and Red Sox one the
Speaker 1: Orioles Nationals loss A's and Giants were winners. Global News
Speaker 1: sixty one hours a day on air and on Bloomberg
Speaker 1: Quickday Howard by more than sixty one journalists and analysts
Speaker 1: in more than sixty one countries. I'm Michael bar One.
Speaker 1: This is Bloomberg back to what number is? This broadcast
Speaker 1: brought to us by Michael. Thank you. It is a
Speaker 1: six nineteen on Wall Street, Live from the Bloomberg Interactive
Speaker 1: Brokers Studios. This is Bloomberg Day Break. Let's turn from
Speaker 1: the number sixty one to seventy five. That's the number
Speaker 1: a lot of market participants have been bandying about as
Speaker 1: we await a Federal Reserve decision in just a few
Speaker 1: hours time. Lets springing. Bloomberg Economics correspondent Michael McKee joining
Speaker 1: us live from our Bloomberg studios in Washington, d C.
Speaker 1: On this FED decision day. As the war on inflation continues, Mike,
Speaker 1: we'll get to see just what kind of weaponry the
Speaker 1: Fed is going to deploy. Yeah, I'm tempted to keep
Speaker 1: the analogy going with the Michael barre but uh and
Speaker 1: no asterisk for Aaron Judge. Anyway, the Fed's going to
Speaker 1: be raising rates and the consensuses for seventy five bases
Speaker 1: points three quarters of a percentage point. That would take
Speaker 1: the rate to the highest in two thousand and eight.
Speaker 1: Of course, at that time rates were coming down, but
Speaker 1: they were the Fed was looking to UH tighten as
Speaker 1: much as possible UH in the this time, so they're
Speaker 1: going up and the question is going to be not
Speaker 1: so much what they do today, but what they do
Speaker 1: down the road, which takes us to the infamous dot plot,
Speaker 1: and and how high they think the terminal rate is
Speaker 1: going to be now and the term. The commentary we've
Speaker 1: heard from Sherman Poal, particularly at Jackson Hole last month,
Speaker 1: is that rates are gonna stay higher for longer, could
Speaker 1: be elevated for some time here, and market participants are
Speaker 1: looking for that pivot to slower rates. I guess we
Speaker 1: find out perhaps today when that pivot could happen, or
Speaker 1: at least get some signal of what the Fed is
Speaker 1: going to be looking for. I suspect there will be
Speaker 1: no signal on timing for a pivot UH. What gets
Speaker 1: lost in the confusion in the markets is UH a
Speaker 1: pivot to whether it's a pivot to a smaller monthly
Speaker 1: rate increase, UH say fifty basis points or twenty five
Speaker 1: basis points or a hold. You get to a level
Speaker 1: and keep it there. And then the idea that the
Speaker 1: Fed will be cutting rates, And if you look at
Speaker 1: the w I r P function on the Bloomberg, you'll
Speaker 1: see that investors think the Fed is going to start
Speaker 1: cutting rates as soon as May of next year. And
Speaker 1: j P, I'm fairly certain today, will push back strongly
Speaker 1: against that idea. They will probably show us in the
Speaker 1: dot plot that they don't expect any changes until two
Speaker 1: thousand twenty four, and he'll reinforce that message. And what
Speaker 1: kind of reinforcement are we expecting then from the new
Speaker 1: economic projections we're expecting from the Federal Reserve. Well, it's
Speaker 1: really gonna be interesting there is how high they forecast
Speaker 1: unemployment in the next two years. It'll give us some
Speaker 1: idea of what they think is tolerable in terms of
Speaker 1: how high it could go. I don't think there'll be
Speaker 1: anything outrageous, but it will be over four percent. So
Speaker 1: how high do they think they need to take unemployment
Speaker 1: or need Monetary policy is likely to influence unemployment to
Speaker 1: at inflation starting to come down, and I suspect that
Speaker 1: we will see the inflation forecasts trimmed a bit. Uh,
Speaker 1: inflation will come down more slowly than it has been
Speaker 1: forecast in the previous projections. At about a minute left here,
Speaker 1: we know Chairman Powell's listening, so let's give him my
Speaker 1: heads up on the question you're gonna be asking him
Speaker 1: when you participate in the news conference Atwotuh. Well, I
Speaker 1: could ask him if Aaron Judge should have an asterisker Harris,
Speaker 1: but I think I will probably give something about how
Speaker 1: surprised the Fed was by the strength of the economy
Speaker 1: and the strength of inflation, because they've been raising rates
Speaker 1: significantly for about six months now and we're not seeing
Speaker 1: a whole lot of impact other than in housing. Yeah,
Speaker 1: and not seeing it much in the core either. And uh,
Speaker 1: we've seen where rates have gone at this point. Do
Speaker 1: we are are we expecting that we're going to get
Speaker 1: any idea Mike about what the Fed thinks restrictive is. Well,
Speaker 1: that's a good question, because restrictive means different things to
Speaker 1: different people. Long run, they think neutral is two and
Speaker 1: a half percent, But at this point, because inflation is
Speaker 1: so high, they have to go higher. How much higher?
Speaker 1: That's a bit of a disagreement among them, but you know,
Speaker 1: everybody's a hawk at this point, so it's somewhere in
Speaker 1: the fours. That's a question of how close you get
Speaker 1: to five, or if there's anybody who thinks you need
Speaker 1: to go over five. Thanks for this, Mike good having
Speaker 1: on with us this morning. Michael McKee, Bloomberg Economics and
Speaker 1: Policy correspondent ahead of the FED decision two pm, Wall
Speaker 1: Street Time, Michael B there for the news conference with
Speaker 1: Chairman Pallett two thirty. Our coverage begins at one thirty
Speaker 1: pm with a special edition of Bloomberg Surveillance across Bloomberg
Speaker 1: Radio and Bloomberg Television. Right now, SMP futures are up
Speaker 1: seven points down, futures up sixty five nastat futures little
Speaker 1: change to the upside. The ten year treasury is up
Speaker 1: five thirty seconds, yield three point five four per cent.
Speaker 1: This is Bloomberg six Bloomberg eleven three oh weather mix
Speaker 1: of sun and clouds behind your eighty today, upper seventies, Tomorrow,
Speaker 1: mid sixties Friday with sunshine in a breeze. Right now
Speaker 1: sixty four in Central Park, broadcasting live from the Bloomberg
Speaker 1: Interactive Broker studio in New York, Bloomberg E Living Freedom
Speaker 1: to Washington, d C, Bloomberg nine nine one to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine
Speaker 1: six to the country, Sirius XM chto one nine team,
Speaker 1: and around the globe the Bloomberg Business app and Bloomberg
Speaker 1: Radio dot com. This is Bloomberg Daybreak six thirty on
Speaker 1: Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow.
Speaker 1: We're just about three hours away from the open of
Speaker 1: you s training. Time to the five things that you
Speaker 1: need to know to start your day. Brought to you
Speaker 1: by Interactive Brokers ibk OUR Investment Advisors, which to interactive
Speaker 1: brokers for lowest cost global trading and turnkey custody solutions,
Speaker 1: no ticket charges and no complex of your interests at
Speaker 1: ib k R dot com slash r i A. First,
Speaker 1: you find out how much the feder reserved race interest race.
Speaker 1: This afternoon. Former Atlanta FED President Dennis Lockhart says he
Speaker 1: expects his seventy five basis point hike, and he thinks
Speaker 1: rates will continue going higher until late next year. It's
Speaker 1: just very unlikely you're going to see a pivot from
Speaker 1: one meeting to the other, going from hawkish to devish overnight.
Speaker 1: So I would expect that once they get to a
Speaker 1: point they feel they need to either pause or stop,
Speaker 1: that rate will be sustained for probably several meetings. Former
Speaker 1: Atlanta FED President Dennis Lockhart tells US there's no case
Speaker 1: for anything less than seventy five basis points today. Stick
Speaker 1: with us for live coverage of the FED decision and
Speaker 1: a special edition of Bloomberg's Your Van Lands beginning at
Speaker 1: one thirty pm Wall Street Time on Bloomberg Radio and television.
Speaker 1: Well caring another major story where following involves an escalation
Speaker 1: by Russia in the war with Ukraine. Vladimir Putin's value
Speaker 1: to mobilized troops. He is renewing nuclear threats and occupation
Speaker 1: authorities installed by Russia have announced referendum votes aimed at
Speaker 1: annexing Ukrainian territory. Former Defense Secretary Mark Esper says that
Speaker 1: vote should not be recognized. These reasons will vote to
Speaker 1: join Russia, to be an X, and that's predictable, and
Speaker 1: Putin will manipulate in whatever way you can. I don't
Speaker 1: think we should recognize him. I think the sovereign territory.
Speaker 1: The boundaries of Ukraine have been identified clearly and recognized
Speaker 1: by the UN since the breakup of the Soviet Union
Speaker 1: in and we should continue to assist Ukraine in restoring
Speaker 1: their complete sovereignty to include CRIMEA former Defense Secretary Mark
Speaker 1: Esper spoke with our Washington correspondent Joe Matthew on Bloomberg
Speaker 1: Sound on Catch the program weekdays at five pm Eastern
Speaker 1: on Bloomberg Radio. Well Nathan, the country's top bank executives,
Speaker 1: are set to spend two days testifying on Capitol Hill.
Speaker 1: JP Morgan, ce O Jamie Diamond is expected to tell
Speaker 1: lawmakers hire capital requirements are bad for America. Follow the
Speaker 1: hearing Life on Bloomberg Radio and the ten Am Hour
Speaker 1: and a note from Boeing this morning Karen the airplane
Speaker 1: makers cutting accountant jobs and hiring more engineers, bowing plans
Speaker 1: to outsource some finance jobs while increasing hiring for engineering,
Speaker 1: manufacturing and product development. And as the five things you
Speaker 1: need to notice start your day, brought to you by
Speaker 1: Interactive Brokers on a day when SMP futures are up
Speaker 1: about seven points now futures up sixty three and nast
Speaker 1: day futures are little changed. Straight ahead your latest local headlines,
Speaker 1: plus a check of sports. This is Bloomberg. He's scaring
Speaker 1: sixty three on Wall Street, sixty four degrees in Central Park.
Speaker 1: The traffic is who continues to be the accident clean
Speaker 1: up southbound Deagan New Yankee Stadium. Michael Barr is here
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. President
Speaker 1: Biden to look bart in a Democratic fundraiser in New
Speaker 1: York City last night. The event featured Mayor Eric Adams
Speaker 1: an actor Robert de Niro. Every used about two million
Speaker 1: dollars for the party. The event, with about a hundred people,
Speaker 1: was held at the Manhattan home of designer and Democratic
Speaker 1: activists Henry Munio's. New York Mayor Eric Adams said he
Speaker 1: is ending the city's COVID nineteen vaccine requirement for private
Speaker 1: sector workers on November one, one of the last remaining
Speaker 1: restrictions of the pandemic. Adams says, though city government workers
Speaker 1: will still need to be immunized against COVID vaccinatd Brooks
Speaker 1: have carried out their jobs and he stepped up when
Speaker 1: the city needed them. The most and we think it's
Speaker 1: imperative to send the right message and lead by example.
Speaker 1: Mayor Adams also said the city is dropping a requirement
Speaker 1: that students will participate in after school activities be vaccinated.
Speaker 1: New York City used to be known as the city
Speaker 1: that Never sleeps, and then came the pandemic. Now restaurants
Speaker 1: that used to be open seven and no longer open
Speaker 1: around the clock. Catherine Wilde with the Partnership for New York.
Speaker 1: We've seen difficulties in getting employees and customers to come
Speaker 1: to work seven. People are more nervous about security conditions overnight.
Speaker 1: Katherine wild with the Partnership for New York is optimistic
Speaker 1: the city will turn around. Hurricane Fiona is now a
Speaker 1: Category four storm as it approaches Bermuda on Frinday. Philippe
Speaker 1: Pappens with the National Hurricane Center, the system is going
Speaker 1: to be growing in size over the next couple of days,
Speaker 1: and that's going to produce some significant sees across the
Speaker 1: Eastern seaboard, and so there's going to be a significant
Speaker 1: wave and rip current threat for the eastern United States coast.
Speaker 1: The National Hurricane Centers. Philippe Pappen says Fiona blasted the
Speaker 1: Turks and Caicos Islands after devastating Puerto Rico. The special
Speaker 1: Master task with inspecting the document seized and an FBI
Speaker 1: search at Mara Lago met with lawyers from the Trump
Speaker 1: team and Justice Department. Raymond Derry says he intends to
Speaker 1: push briskly through the review process. He appeared skeptical of
Speaker 1: the Trump team's reluctant to say whether it believed the
Speaker 1: records had been declassified. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktake, powered by more
Speaker 1: than twenty seven hundred journalists and analysts more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg. Nick,
Speaker 1: Thanks Michael. Almost six thirty six on Wall Street, John
Speaker 1: stash Hour has the Bloomberg Sports update all right, Nathan
Speaker 1: Yankee fans went to the stadium to see some history.
Speaker 1: Four times Aaron Judge had come to the plate. Everyone
Speaker 1: took after cell phones, but Judge was over three with
Speaker 1: a walk and then bottom of the ninth thinning against
Speaker 1: the Pirates. Will Crow, who's a relative of Babe Ruth's
Speaker 1: teammate Red Ruffie in a patented Judge Homer Fott the
Speaker 1: left field number sixty, equaling what the Babe did in
Speaker 1: nineteen twenty seven, joining the sixty home run club and
Speaker 1: includes Barry Bonds, Mark Maguire, Sammy Sosa, and Roger Marris.
Speaker 1: He of course hit sixty one. Marris's two sons were
Speaker 1: at the stadium last night, will be back there tonight.
Speaker 1: Mike Kessler, who's on the CCNY baseball team, caught the
Speaker 1: ball in the bleachers and gave it to judge after
Speaker 1: the game. The judge homer left the Yankees still behind
Speaker 1: eight to five, but they loaded the bases and with
Speaker 1: Crow still on the mound, still nobody out up step
Speaker 1: Giant Carlos Stanton cutball is gonna be God a Grand
Speaker 1: Slam to win the game. No One, how bases loaded
Speaker 1: Grand Slam bottom of the night and the Yankees have
Speaker 1: come back in the ninth inning with five runs to
Speaker 1: win the game nine eights and the carl Stanton had
Speaker 1: been struggling mightily since coming off the injured list last month.
Speaker 1: Matt's had a big Grand Slam of their own Francisco
Speaker 1: Lindors seventh inn giving them a seven five win at Milwaukee.
Speaker 1: Atlanta one again Braids Clinton playoffs spot. They stay a
Speaker 1: game behind the Mets there. Even in the lost column.
Speaker 1: Cleveland took a big step towards winning the Al Central
Speaker 1: five in the eleventh to beat the White Sox and
Speaker 1: go up by five Toronto, moving closer to release a
Speaker 1: wild card playoffs spot in eighteen to eleven win at Philadelphia.
Speaker 1: John Stashwar Bloomberg Sports, Nathan, Okay, John, thank you at
Speaker 1: six thirty seven on Wall Street Time now to take
Speaker 1: a look at stock some of the names moving in
Speaker 1: the pre market with Bloomberg Radio and TV Markets correspondent
Speaker 1: Created Gupta on this FED decision day, it looks like
Speaker 1: the broader markets and kind of wait and see mode creaty,
Speaker 1: But we have seen a big surge in the commodity
Speaker 1: space with this partial mobilization announcement overnight from Vladimir Putin.
Speaker 1: We absolutely have. I mean, there's so much going on today, Nathan.
Speaker 1: I'm gonna start with that FED day that you just mentioned,
Speaker 1: simply that we have this kind of sell the rumor
Speaker 1: by the news dynamic in the market. The last two
Speaker 1: days have been sell offs, pretty normal ahead of FMC decisions.
Speaker 1: If you look at the past FED meetings, This year,
Speaker 1: they've all actually had rallies on the day. The idea
Speaker 1: here simply being that the market is already kind of
Speaker 1: pricing in exactly what the Federal Reserve is going to
Speaker 1: tell us, and and right now they're pricing in seventy
Speaker 1: five basis points on the table for today. Um. The
Speaker 1: question is going to be what they indicate about the
Speaker 1: next meeting is seventy five base points on the table
Speaker 1: for November. Nevertheless, to your point, features are up about
Speaker 1: two tenths of one percent. But you're all right. All
Speaker 1: the action is in the commodity space. Check this out.
Speaker 1: You actually have oil features Brent contracts at ninety two
Speaker 1: handle eighty six. But the read through into the stock
Speaker 1: market is the names like x on Mobile x O
Speaker 1: M is your taker up one point three percent, a
Speaker 1: similar story which Chevron sev X as your taker? There
Speaker 1: those shares up one point three percent. Once again, the
Speaker 1: idea here being that if you start to have this
Speaker 1: kind of amping up of of of forces in the
Speaker 1: Ukrainian Russian War at the moment, then that is going
Speaker 1: to further delay any sort of progress on the natural
Speaker 1: gas front, on the oil front, et cetera. UM, and
Speaker 1: that of course creates a little bit more demand, pushing
Speaker 1: those prices just a little bit higher. What I will say,
Speaker 1: those they've kind of been in that range all week though,
Speaker 1: the eighties, early nineties, UM kind of range. So I
Speaker 1: wouldn't be too worried about it just yet, but you
Speaker 1: can still see that there are some nerves built into
Speaker 1: the market, Nathan. The other place that a lot of
Speaker 1: people don't think to look is defense stocks. So think
Speaker 1: Lockheed Martin for example. LM T is your taker, up
Speaker 1: a whopping two point six percent today. UM. A similar
Speaker 1: story when Extenter will come to Boeing shares b A
Speaker 1: is your ticker bill They're actually down three tense of
Speaker 1: one percent. But keep an eye on that because it
Speaker 1: tends to move in tandem with Lockeed Martin. And when
Speaker 1: we talk about defense, it's not just about things like
Speaker 1: artillery or military equipment. It's also things about cyber security. Remember,
Speaker 1: Russia has a major UM edge in terms of cybersecurity.
Speaker 1: So names like Paulo Alto Networks is going to be
Speaker 1: a name that comes to mind. P A. N W.
Speaker 1: The shares are about one tenth of one percent today,
Speaker 1: A tiny bump there. You're gonna see similar one with
Speaker 1: a company like Data Dog for example. Once again, these
Speaker 1: are all cyber security companies, also up one tenth of
Speaker 1: one percent, so keep an eye on that. We might
Speaker 1: see a little bit of an acceleration as we go
Speaker 1: into the US market open. Yeah, it could be interesting
Speaker 1: to see whether we get any more movement with the
Speaker 1: UN General Assembly underway as well, whether we get the
Speaker 1: reaction to Putin's comments from President Biden when he addresses
Speaker 1: the gathering in New York later this morning. We'll have
Speaker 1: that for you live the President speaking at the UN
Speaker 1: General Assembly just around ten thirty Wall Street time, so
Speaker 1: keep it right here on Bloomberg Radio for that. Bloomberg
Speaker 1: Radio and TV. Market scores spotted Krety Gupta. As always,
Speaker 1: thanks for the pre market update looking at stocks as
Speaker 1: a whole ahead of the open and the Fed decision.
Speaker 1: SMP futures up seven points down, futures up seventy two,
Speaker 1: Nasdaq features up one point. If you're listening to Bloomberg
Speaker 1: day Break, Bloomberg eleven three oh weather mix of sun
Speaker 1: and clouds of a high near eighty today, upper seventies tomorrow,
Speaker 1: with a partly sunny sky, mostly sunny, breezy, cooler Friday
Speaker 1: highs in the mid sixties right now sixty four in
Speaker 1: Central Park markets. Headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business at
Speaker 1: and at Bloomberg Quick Tape. This is a Bloomberg Business
Speaker 1: lash and I'm Karen Moscow. And futures are higher this morning.
Speaker 1: We had the first word breaking news dance for today's
Speaker 1: morning call. And here's Bill Maloney built Good morning and
Speaker 1: good morning, Karen. That's right. Modest gains in the US
Speaker 1: futures right now at Death futures up eighty six points,
Speaker 1: SIPES game ten will Nezda futures are higher by eight.
Speaker 1: The US ten yel at three point five four percent,
Speaker 1: Gold is up ten. Oil is also trading higher, and
Speaker 1: Bigtoin is little changed. Hong Kong dropped one point eight
Speaker 1: percent overnight, while up markets are also quiet this morning.
Speaker 1: And back in the US on the economic front, at
Speaker 1: ten o'clock existing home sales and at two o'clock that
Speaker 1: eight that f o MC rate decision regarding earnings, look
Speaker 1: for general Millster report in the pre market and in
Speaker 1: other news. Wall Street banks face six hundred million in
Speaker 1: losses on citrics debt wrapping things up. St latter was
Speaker 1: raised to buy over at Goldman Sex. Micron was good
Speaker 1: to neutral over at MIZOOO Live from the first Breaking
Speaker 1: News tescom Bill Maloney, care all right, Bill, thank you
Speaker 1: to hear like breaking news over your Bloomberg type squawk
Speaker 1: on your terminal squ a w u K and that's
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with Moore
Speaker 1: and what's going on around the world. Michael Karen, thank
Speaker 1: you very much. President Biden is in New York City
Speaker 1: today joining fellow world leaders at the United Nations. The
Speaker 1: White House says the President will address a range of
Speaker 1: issues in his speech later this morning, but his main
Speaker 1: focus will be the war in Ukraine. While President Biden
Speaker 1: is expected to deliver a harsh message to President Putin,
Speaker 1: officials say he will not call for Russia's removal from
Speaker 1: the UN Security Council. Of course, will carry President Biden's
Speaker 1: address live. In baseball, the Yankees beat the Pirates nine eight.
Speaker 1: Aaron Judge here his sixty at home run of the season,
Speaker 1: one away from Roger Mara's American League record. The Mets
Speaker 1: and Red Sox won the Orioles and nationals lost, the
Speaker 1: A's and Giants are winners. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalist and analysts more than
Speaker 1: a hundred twenty countries. I'm Michael Barn. This is Bloomberg,
Speaker 1: Karen Harry, Michael Barr, Thank you. It is sixty nine
Speaker 1: on Wall Street. We turned to news and science and
Speaker 1: technology now at the Bloomberg and j I T. Stammer
Speaker 1: Report brought to you by New Jersey Institute of Technology,
Speaker 1: and j I T is ranked top ten nationally on
Speaker 1: Money's Best Engineering Colleges list. What will You make It?
Speaker 1: N j I T. Learn more at n j I
Speaker 1: T dot E d U. And Here's what's making news
Speaker 1: and science, technology, engineering and math. The United Nations Secretary
Speaker 1: General says rich energy companies should be forced to fork
Speaker 1: over some windfall profits to aid victims of climate change.
Speaker 1: In his opening remarks at the UN General Assembly in
Speaker 1: New York and Tonio gu Terras urged richer countries to
Speaker 1: tax the profits of energy companies and redirect the funds
Speaker 1: to both countries suffering loss and damage caused by the
Speaker 1: climate crisis and those struggling with the rising cost of living.
Speaker 1: The United Arab Emirates says it will launch its first
Speaker 1: lunar rover in November. The lunar mission is part of
Speaker 1: the U A E. S broader strategy to become a
Speaker 1: major player in the field of space exploration. If the
Speaker 1: Moon mission succeeds, the UA East and Japan would join
Speaker 1: the ranks of only the US, Russia, and China as
Speaker 1: the nations that have put a spacecraft on the lunar surface.
Speaker 1: And Amazon's one point seven billion dollar deal that by
Speaker 1: rumba vacuum maker i Robot, will face an in depth
Speaker 1: review by the Federal Trade Commission. I Robot disclosed and
Speaker 1: a regulatory filing that both companies received a so called
Speaker 1: the second request seeking additional information on the deal. The
Speaker 1: request lengthens a deal's antitrust review by months or years,
Speaker 1: depending on the complexity of the transaction. That's a Bloomberg
Speaker 1: n J I T Stem report. Nathan, Thank you, Karen.
Speaker 1: We are live from the Bloomberg Interactive Brokers studios were
Speaker 1: at a six fifty on Wall Street time now to
Speaker 1: check what's going on in d C. Some of the
Speaker 1: top stories in our nation's capital, include President Biden preparing
Speaker 1: to address the UN General Assembly this morning, President with
Speaker 1: a star studded fundraiser in New York City ahead of
Speaker 1: the speech. Trump lawyer's arguments met with skepticism at the
Speaker 1: first Special Master hearing over documents at marl Lago, and
Speaker 1: Consumer Bank CEO's head to Capitol Hill with a warning
Speaker 1: to lawmakers about inflation. Let's bring in Bloomberg government reporter
Speaker 1: Emily Wilkins for more on all these stories. Emily, I
Speaker 1: want to how much revision President Biden is making to
Speaker 1: his address to the UN General Assembly After Russian President
Speaker 1: Putin's warning about a partial mobilization in Ukraine. We knew
Speaker 1: that Putin I was going to be talking a little
Speaker 1: bit in his speech about trying to annexperious regions of
Speaker 1: Ukrainian territory um that Russia has overtaken. But now he
Speaker 1: has also called up to three thousand reservists. It's a
Speaker 1: major political escalation which he is now really portrayed as
Speaker 1: a fight to the death with the US and its allies. Um.
Speaker 1: And you do have to wonder, you know, how is
Speaker 1: this going to impact Biden's speech that he's planned on
Speaker 1: making later today. He was already going to really call
Speaker 1: out Russia's naked aggression in Ukraine and call it an
Speaker 1: affront to the heart of the United Nations, kind of
Speaker 1: imply that that Russia isn't really doing what it needs
Speaker 1: to do to to to be a member, to be
Speaker 1: in the spirit of the United Nations. It's going was
Speaker 1: already knew it was going to be a firm rebuke UM.
Speaker 1: But this might wind up even amping up the rhetoric
Speaker 1: that Biden is bringing to the United Nations when he
Speaker 1: gives that speech later today. This is of course the
Speaker 1: first time that the UN is having UH in person
Speaker 1: meetings and this in person UH gathering UH since in
Speaker 1: the last two years due to the pandemic. Now we've
Speaker 1: seen and heard a lot of rhetoric against Russia from
Speaker 1: the leaders we've heard from so far at this gathering.
Speaker 1: What are you gonna be watching for as the President
Speaker 1: makes those remarks later today and continues to interact with
Speaker 1: global leaders. I mean, I think one of the big
Speaker 1: questions is exactly what Biden pledges as far as US support,
Speaker 1: If there's any more indication about what's coming next. Certainly
Speaker 1: we've seen plenty of headlines about the US UH, it's
Speaker 1: continuing to send aid to Ukraine in terms of financial aid,
Speaker 1: in terms of weapons and missiles and machinery. UM. But
Speaker 1: I think another big thing that Biden has been lauded
Speaker 1: for is really being able to keep everyone to other
Speaker 1: UH to continue to ensure UM that Europe is still
Speaker 1: going to be pushing against Russia, even though obviously that
Speaker 1: the stakes are a little higher for a number of
Speaker 1: European countries. Also, we are coming up on winter. Gas
Speaker 1: is still very high. There's lots of questions about how
Speaker 1: folks are gonna be able to heat their homes, if
Speaker 1: they're able to be if they're going to be able
Speaker 1: to heat their homes um. And I think this is
Speaker 1: going to potentially present a bit of a breaking point
Speaker 1: where European leaders might say, you know, we are now
Speaker 1: in the six seventh eighth month of this war UH,
Speaker 1: we need to make sure that we're looking out for
Speaker 1: our own citizens. I think there's a big question on
Speaker 1: whether Biden is going to be able to keep his
Speaker 1: allies and keep the block pushing against Russia together. Now
Speaker 1: long with the intensifying geopolitics, we're seeing that the president
Speaker 1: also has a mid term domestic politics in mind with
Speaker 1: this Democratic a fundraiser last night that I had some
Speaker 1: big names attached. Yeah, Joe Biden, he is up in
Speaker 1: New York anyway for the Fund for the United Nations,
Speaker 1: figured that he'd do a fundraiser as well. Uh, featured
Speaker 1: celebrity guests, including Robert de Niro as well as New
Speaker 1: York Mayor Eric Adams. Um, you know this is it's
Speaker 1: part of the fund, the president's job to go to
Speaker 1: these fundraisers to raise money for his party. Uh. We're still,
Speaker 1: you know, very much in an era where candidates are
Speaker 1: raising a lot of money. Um, and they need that
Speaker 1: money to remain competitive at this point. But it also
Speaker 1: addressed the group in several remarks. He really emphasized that
Speaker 1: this was this raison is not about it's about two
Speaker 1: It's about the mid terms. It's about control of Congress
Speaker 1: and what Biden is going to be able to do
Speaker 1: in the last two years of his presidency. He also
Speaker 1: tried to clarify those remarks that he made over the
Speaker 1: weekend in that sixteen minutes interview when he said that
Speaker 1: COVID was over. Biden reminded folks there that they needed
Speaker 1: to get their boosters and said that basically the pandemic
Speaker 1: is not now where it was previously. Well, let's get
Speaker 1: an update on the a Special Master situation. There was
Speaker 1: a hearing yesterday, the first one on the Moral Lago documents.
Speaker 1: It sounds like the Special Master has really been poking
Speaker 1: at former President Trump's case. Yeah, even though that Trump
Speaker 1: was the one who put the Special Master's name forward.
Speaker 1: This is former US District Judge Riemon diary. Uh, he
Speaker 1: did you know. He hasn't been lenient on Trump. He's
Speaker 1: pushing back on the fact that some of these records
Speaker 1: aren't highly classified sensitive information. But it seems like the
Speaker 1: Special Master is is a green but with the Justice
Speaker 1: Department that some of these are are absolutely classified. Um
Speaker 1: and that you know, there is reason for the Justice
Speaker 1: Department to be able to have some of these documents.
Speaker 1: Of course, what Trump is trying to make sure is
Speaker 1: that you know, any document that he could possibly get
Speaker 1: back in in in his possession back in maral Lago
Speaker 1: is able to do so. And of course that the
Speaker 1: Justice Department, meanwhile, is worried that the Special Master review
Speaker 1: is going to hold up fair investigation in UM. So,
Speaker 1: I think you know we're we're beginning to see the
Speaker 1: judge do his work on this. I think it's it's
Speaker 1: just another delay point really in sort of the overall
Speaker 1: question of what, if anything, the Justice Department is going
Speaker 1: to wind up charging UH former President Donald Trump with
Speaker 1: UH or revealing about their investigation into him and his
Speaker 1: possession of this these highly sensitive, highly classified documents. Just
Speaker 1: thirty seconds left here, I'm only get a set for
Speaker 1: this hearing later this morning on Capitol Hill with consumer
Speaker 1: bank CEOs. Yes, so we're gonna be seeing a number
Speaker 1: of the CEO City Group JP Morgan. UH, they're gonna
Speaker 1: be warning on economic risks when they head to the
Speaker 1: Hell today to appear in front of panels of lawmakers. UM,
Speaker 1: they're going to say that, yes, even though COVID is
Speaker 1: behind us and the market is getting better, there's still
Speaker 1: a number of really daunting challenges that face everyone. Uh.
Speaker 1: Even though consumer spending is strong, Um, there are also
Speaker 1: Americans are being hurt by high flation. And they're also
Speaker 1: going to highlight how they will be trying to help
Speaker 1: consumers in the next couple of months. And we'll have
Speaker 1: live coverage of that hearing from the House Financial Services
Speaker 1: Committee this morning just after ten am. Wall Street time
Speaker 1: here on Bloomberg Radio, along with the President's addressed to
Speaker 1: the UN General Assembly, and of course, the FED decision
Speaker 1: this afternoon in a special edition of Bloomberg Surveillance, lots
Speaker 1: coming up in the nation's capital today. In our thanks
Speaker 1: to Bloomberg government reporter Emily Wilkins for bringing us the
Speaker 1: update ahead of all that. Right now, SMP futures are
Speaker 1: up ten points, STOW futures up ninety and NASDAC futures
Speaker 1: up ten points. Bloomberg Surveillance the Morning edition comes up
Speaker 1: next with Tom Keene, Jonathan Faroll, and Lisa Brahmowitz for
Speaker 1: Karen Moscow. I'm Nathan Hagar. This is Bloomberg