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Speaker 1: Live from the Bloomberg Interact a Broker Studios. This is

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Speaker 1: Bloomberg Daybreak for a Thursday, April two. Coming up this hour,

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Speaker 1: Shares of Netta surge after Facebook adds more users than expected.

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Speaker 1: Apple and Amazon report this afternoon. The President invited Plants

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Speaker 1: to deliver remarks today on more support for Ukraine, and

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Speaker 1: Americans grow more pessimistic about their finances as infliction takes

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Speaker 1: a toll. New York's MTA wants to ramp up its

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Speaker 1: fleet of electric buses. Plus DOCORFLGI clarifies as a comment

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Speaker 1: that the US is not in the pandemic phase. I'm

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Speaker 1: Michael blarn More ahead, I'm John Stay Sharon sports fifth

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Speaker 1: straight win for the Yankees, the Mets lost as the

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Speaker 1: bench is empty in the NFL draft, agins tonight. That's

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Speaker 1: all s train ahead on Bloomberg Daybreak on Bloomberg eleven

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Speaker 1: three on New York, Bloomberg nine one, Washington d C,

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Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties and

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Speaker 1: Francisco Sirius XAM one nine Team and around the world

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Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg

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Speaker 1: Business App. And Good Morning I'm ferre in Moscow. I'm

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Speaker 1: Nathan Hagar. Bloomberg Daybreak is brought to you by hc Waynwright.

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Speaker 1: Register now for the hc W Global Investment Conference, a

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Speaker 1: hybrid event one to twenty six. Go to h c

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Speaker 1: W Events dot com. HCW reserves the writing discretion to

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Speaker 1: accept a reject registration or admission and Nathan futures are higher.

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Speaker 1: This morning six I went on Wall Street. We checked

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Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberg,

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Speaker 1: but SNP futures up sixty five points down, futures of

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Speaker 1: three hund twenty one and NASDACK futures leading the way

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Speaker 1: up two hundred seventy three or two point one percent.

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Speaker 1: Ten year treasury of four third day seconds yeld two

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Speaker 1: point eight one percent, and they yield on the two

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Speaker 1: year two point five seven percent. Nathan Well Karen that

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Speaker 1: lifted NASTAC futures follows Facebook parent Meta's latest earnings. The

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Speaker 1: shares are up nearly seventeen percent after Facebook's main social

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Speaker 1: network added more users than project at the company says

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Speaker 1: revenue would have been higher if not for the war

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Speaker 1: in Ukraine. Man Deep Singh is a senior technology analyst

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Speaker 1: for Bloomberg Intelligence, the core of Facebook and Instagram engagement

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Speaker 1: seems to be holding up quite well, so I think

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Speaker 1: these are definitely good numbers. They missed on the top line,

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Speaker 1: but we know it's because of the ad pricing, and

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Speaker 1: I think that was sort of expectant. Bloomberg Intelligence Senior

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Speaker 1: analyst Mandieve Singh says Facebook added thirty one million new

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Speaker 1: daily active users in the recent quarter. Well, Nathan, let's

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Speaker 1: look at some of the other stocks on the move

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Speaker 1: following earnings. You report shares a Qualcom up almost eight percent.

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Speaker 1: The chipmaker gave a strong sales for camps for the

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Speaker 1: current quarter. Ford Meat Estimate estimates it reaffirmed as guidence

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Speaker 1: for the year. That stock is up more than two percent.

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Speaker 1: And the biggest loser this morning is Telenoc Health shares

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Speaker 1: are plunging more than thirty nine percent. Telemedicine company cutting

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Speaker 1: its revenue and earning scuidence for the year, and the

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Speaker 1: earnings continue to roll in today, Karen, With big tech

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Speaker 1: once again leading the way after the bell, we hear

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Speaker 1: from Apple and Amazon. Let's get a preview from Bloomberg's

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Speaker 1: Tom Busby. Well, investors will see if Apple saw continued

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Speaker 1: growth in sales of iPhones, iPads, max and services despite

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Speaker 1: supply chain problems and chip shortages. Forecast call for earnings

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Speaker 1: per share of one dollar forty three cents on revenue

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Speaker 1: of just over ninety four billion dollars. Apple also expected

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Speaker 1: to announce a share buyback program of as much as

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Speaker 1: ninety billion dollars. As for Amazon, investors will see if

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Speaker 1: it's Amazon Web Services, the cloud computing unit will offset

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Speaker 1: and expected slow down and online sales now that many

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Speaker 1: pandemic restrictions have been lifted. Forecast call for earnings per

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Speaker 1: share of eight fifty five on revenues of more than

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Speaker 1: a hundred sixteen billion. I'm Tom Busby Bloomberg Daybreak. All right, Tom,

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Speaker 1: thank you. Well. It's also a big day on the

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Speaker 1: economic front. We get a closely watched rating on first

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Speaker 1: quarter GDP this morning, and the forecast is for a

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Speaker 1: one percent gain. Plumberg's Michael McKee has the details. COVID

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Speaker 1: and Russia's war slowed growth dramatically in the first three

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Speaker 1: months of the year. Some analysts even think the economy contracted,

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Speaker 1: but additional GDP figure will mask some true strength. Consumer

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Speaker 1: spending is forecast to be strong, and business investment appears

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Speaker 1: to be holding up. Real estate was a strong point

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Speaker 1: during the quarter. The impact on growth is likely largely

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Speaker 1: to have come from a slower pace of inventory building

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Speaker 1: as companies finally restocked. Higher oil prices play a role

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Speaker 1: as well. Michael McKee, Bloomberg Daybreak, all right, Mike, thanks.

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Speaker 1: Higher inflation is taking a toll on the personal finances

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Speaker 1: of many Americans, and it is also hitting their outlook.

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Speaker 1: Let's get more on that Live from Bloomberg's or need

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Speaker 1: a Young Good Morning Grenada, Good morning Nathan. A gallop

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Speaker 1: Pole shows less than half of Americans rate their financial

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Speaker 1: situation as good or excellent, and some forty eight percent

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Speaker 1: say it's getting worse. That's similar to levels seen a

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Speaker 1: month into the pandemic and during the financial crisis of

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Speaker 1: two thousand eight. So what's driving the worry? The survey

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Speaker 1: finds that a record thirty two percent of Americans rank

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Speaker 1: inflation and a high cost of living as the most

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Speaker 1: important financial problem facing their family today. Live in New York,

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Speaker 1: I'm gonned a young Bloomberg Day pre all right, we

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Speaker 1: need to thank you, and we turned to some moves

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Speaker 1: in Asia. Now overnight, the Japanese yea and hit a

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Speaker 1: two decade low against the dollar. The move comes after

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Speaker 1: the back in Japan doubled down on bond purchases. The

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Speaker 1: central banks said it would buy an unlimited amount of

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Speaker 1: bonds at fixed rates every business day. Checking the in

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Speaker 1: right now is at one thirty point five four against

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Speaker 1: the dollar. All right, then, let's take a look at

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Speaker 1: the latest on the war in Ukraine. Karen. President Biden

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Speaker 1: plans to deliver remarks later today on support for Ukraini

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Speaker 1: as his administration looks to send Congress a proposal for weapons.

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Speaker 1: Bloomberg Z Baxter has the story. The White House says

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Speaker 1: it could go to the Hill as early as today.

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Speaker 1: Spokeswoman Jen Psaki says they're still working on the final ask.

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Speaker 1: Don't have a number for you at this point in time,

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Speaker 1: but there is plans for this to be a proposal

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Speaker 1: to go through the fiscal year, and it will include

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Speaker 1: um as our pass packages have included security or military assistance,

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Speaker 1: humanitarian economic assistance, which seems to suggest a large number.

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Speaker 1: The President has promised delivery by the end of the week.

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Speaker 1: In San Francisco, I'm at Baxter Bloomberg Gay Break right

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Speaker 1: and thank you. Meantime, in Europe, several countries are looking

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Speaker 1: for clearer god ins from the EU on Russia's demand

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Speaker 1: to pay for gas in rubles. Russia cut off the

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Speaker 1: taps to Poland in Bulgaria yesterday for refusing to pay

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Speaker 1: in the currency. Now, the Financial Times reports several European nations,

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Speaker 1: including Germany, are preparing to open ruble accounts to meet

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Speaker 1: Vladimir Putin's demands. This all adds to a volatile energy market.

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Speaker 1: According to Patrick de Han had a petroleum analysis a

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Speaker 1: gas buddy, There's a lot then said about Russia and

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Speaker 1: Ukraine and now Russia today escalating the situation by UH

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Speaker 1: stifling the flow of natural gas to Poland and Bulgaria.

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Speaker 1: And of course we have a global economy that's been rebounding.

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Speaker 1: Patrick de Haan with gas Buddies, spoke with our Washington

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Speaker 1: corresponded Joe Matthew on Bloomberg sound on Catch the show

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Speaker 1: weekdays at five pm Eastern on Bloomberg Radio. And looking

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Speaker 1: ahead to the market open, Karen, we have futures moving higher,

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Speaker 1: with SMP futures up sixty five point staff future years

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Speaker 1: up three hundred sixteen. Nastac futures higher by two hundred

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Speaker 1: eighty points or two point two percent. The tenure Treasury

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Speaker 1: is up three thirty seconds yield two point one percent

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Speaker 1: yield on the two year two point five seven and

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Speaker 1: nime X crues hired by two tenths percent at a

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Speaker 1: hundred two dollars twenty three cents of barrel. Local headlines

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Speaker 1: and sports. Next, this is Bloomberg Sounds six o seven

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Speaker 1: on Wall Street. We're forty degrees in Central Park and

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Speaker 1: we've got an accident in Brooklyn and eastbound Gowanas at

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Speaker 1: Hamilton Avenue. Details coming up in traffic. First, Michael Barr

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Speaker 1: with more on what's going on in New York and

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Speaker 1: around the world. Michael, thank you very much. Nathan, New

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Speaker 1: York's MTA plans to ramp up its number of electric buses,

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Speaker 1: part of the agency's goal for zero emissions by forty

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Speaker 1: For the nation's largest bus fleet, The m t A

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Speaker 1: anticipate sixty new electric buses will start arriving later this year,

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Speaker 1: with another four hundred seventy coming in three to four years.

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Speaker 1: It will transition it's fifty eight hundred bus fleet to

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Speaker 1: all electric vehicles. Dr Anthony Fauci is clarifying comments he

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Speaker 1: made suggesting that the COVID nineteen pandemic is over in

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Speaker 1: the US. Fauci said this initially on the PBS News Hour.

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Speaker 1: We are certainly right now in this country out of

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Speaker 1: the pandemic faith. But now Dr Fauci says the pandemic

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Speaker 1: in the US isn't over, but is in a more

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Speaker 1: controlled stage. Connecticut Governor net Lamotts and his fellow Democrats

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Speaker 1: and the General Assembly say they've reached a broad agreement

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Speaker 1: on a revised one year state budget proposal. It includes

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Speaker 1: nearly five hundred million dollars in tax reductions. The list

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Speaker 1: of proposed tax changes would also continue the twenty five

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Speaker 1: cent per gallon gas tax cut until December one. The

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Speaker 1: parents of American Trevor Reid said they dared not build

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Speaker 1: up their hopes when they first heard their son might

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Speaker 1: be freed from Russia after being held for three years.

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Speaker 1: Yesterday they got the call they've been waiting for. The

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Speaker 1: former marine was swapped for a Russian prisoner being held

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Speaker 1: by the US. They expect read come home in a

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Speaker 1: few days. Key negotiator and former US Ambassador to the

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Speaker 1: United Nations Bill Richardson says that he has worked with

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Speaker 1: two different administrations since twenty nineteen to secure Read's release.

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Speaker 1: These exchanges take a long time. During the Trump administration,

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Speaker 1: it didn't work, and the relationship between President Trump and

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Speaker 1: the Russians was better than it is now, but it

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Speaker 1: didn't work, So it depends on timing. Luck. Richardson, also

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Speaker 1: the former governor of New Mexico, says other Americans are

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Speaker 1: still being held in Russia, including w n B A

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Speaker 1: Star Brittney Griner and another former Marine, Paul Wheeland. The

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Speaker 1: crew of astronauts survived at the International Space Station and

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Speaker 1: Dragon hatches open and they are welcoming the crew for

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Speaker 1: astronauts on board. The NASA crew blasted off from Florida

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Speaker 1: yesterday morning. Global News twenty four hours a day on

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Speaker 1: air and on Bloomberg quick Take, powered by more than

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Speaker 1: journalist and analyst and will and twenty countries. I'm Michael Barr.

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Speaker 1: This is Bloomberg Naked, all right, Michael. Thanks almost six

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Speaker 1: ten on Wall Street. Time for the Bloomberg Sports Update

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Speaker 1: with John Sasha may Than. Couple of Yankee sluggers perhaps

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Speaker 1: heating up. Yankees are heated up. They've won the fifth

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Speaker 1: in a row, five two of Baltimore the stadium. Joey

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Speaker 1: Gallow no home runs in those first fourteen games, but

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Speaker 1: now two and two nights, and John Carlos Stanton with

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Speaker 1: his first home runs since the second game of the season.

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Speaker 1: He gets the three hundred and fifty career home runs.

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Speaker 1: Only six players have gotten there faster. Yanks go for

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Speaker 1: the sweep, the staffterdo and the Mets failed to get

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Speaker 1: to sweep. In St. Louis had a four one league,

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Speaker 1: but the Cardinals erupted in one, ten to five, and

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Speaker 1: Nolan Arronado erupted in the eighth inning. Did not appreciate

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Speaker 1: Joan Lopez's up and end pitched the bench is emptied

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Speaker 1: the Cardinals manager Carlos Marmol And you come up top

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Speaker 1: like that and and jeopardize someone's career in life. Yeah,

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Speaker 1: I'll take exception for that. And uh, I don't think

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Speaker 1: anyone in the big leagues appreciates getting thrown up top.

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Speaker 1: No one has every right to react the way he did.

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Speaker 1: Then go after him. We'll protect them and Mets. J. D.

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Speaker 1: Davis got hit with a pitch on the top of

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Speaker 1: the eighth It was the fifth time in the series,

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Speaker 1: but it met got hit the nineteenth time this season,

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Speaker 1: no other team has been hit by pick more than

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Speaker 1: eleven times. Rangers at the Garden lost to Montreal four

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Speaker 1: to three close out the regular season tomorrow with Washington.

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Speaker 1: That outcome could affect whether it then play the Caps

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Speaker 1: in the first round, but if Pittsburgh beats Columbus tomorrow,

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Speaker 1: the Rangers that face the Penguins. Milwaukee will face Boston

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Speaker 1: in the NBA second round. The Bucks finished off Chicago.

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Speaker 1: Golden State closed out of series with Denver. NFL draft

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Speaker 1: starts tonight in Las Vegas. Like last year, Jacksonville has

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Speaker 1: the first pick, The Jets have the fourth and tenth picks.

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Speaker 1: The Giants have the fifth and second. John Statue or

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Speaker 1: Boom Girp sports all right, John thanks, SMP futures up

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Speaker 1: sixty three point, Staff futures up three under eight, Nanastack

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Speaker 1: futures leading the way with a two point one percent

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Speaker 1: gain up two hundred seventy five points. This is Bloomberg

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Speaker 1: Bloomberg eleven three oh weather varying amounts of clouds and

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Speaker 1: sun breezy today with a hind, your fifty five degrees

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Speaker 1: could hit sixty with sunshine and a breeze. Tomorrow Saturday,

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Speaker 1: mostly sunny, low sixties to start the weekend. Currently forty degrees. Markets,

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Speaker 1: headlines and breaking news twenty four hours a day at

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Speaker 1: Bloomberg dot Com of Bloomberg Business Out and at Bloomberg

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Speaker 1: Quick Take. This is a Bloomberg Business Flash and I'm

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Speaker 1: Karen Moscow. This updates ronty you by b n Y

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Speaker 1: Mellen's perishing learned by the world's most sophisticated wealth management

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Speaker 1: European stocks rallying along with US stock Indise futures after

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Speaker 1: upbeat earnings out of the bull cage for the economy

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Speaker 1: and markets to spelling growth. Fears for now shares, a

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Speaker 1: Facebook's parent are giving nasdat futures a lift and we

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Speaker 1: check the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg s and p Future is a fifty nine

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Speaker 1: points STAF futures have two hundred seventy nowsday futures up

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Speaker 1: two hundred fifty four. That's up about two percent. The

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Speaker 1: decks in Germany is of one and a half percent.

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Speaker 1: Ten year Treasury of Thought thirty seconds held two point

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Speaker 1: eight one percent yield on the two year two point

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Speaker 1: five seven percent. NIMEX screwed oil is is up four

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Speaker 1: tens percent of forty three cents at a hundred two

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Speaker 1: dollars forty five cents in barrel. Comex school. That'll change

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Speaker 1: at twenty announced. The euro one point oh five one

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Speaker 1: three against the dollar, British found one point to five

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Speaker 1: o two, the en one thirty point three four, and

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Speaker 1: bitcoin is higher, up one point four percent. It's at

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Speaker 1: thirty nine thousand, six hundred fifty dollars. That's a Bloomberg

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Speaker 1: business flash. Now here's Michael Barr with more un must

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Speaker 1: going on around the world. Michael Karen, thank you very much.

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Speaker 1: President Joe Biden plans to deliver remarks today on support

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Speaker 1: for Ukraine and his administration looks too soon send Congress

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Speaker 1: proposal for weapons and humanitarian assistance for Kiev that would

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Speaker 1: last through September. Dr Anthony Vuci is clarifying comments he

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Speaker 1: made suggesting that the COVID nineteen pandemic is over in

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Speaker 1: the US. Vaunci now says the pandemic is not over,

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Speaker 1: but in a different phase. Round one of the NFL

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Speaker 1: Draft begins tonight. The Jaguars have the overall number one pick,

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Speaker 1: The Jets have the fourth and tenth pick, the Giant

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Speaker 1: select fifth and seventh. In the NBA playoffs, the Warriors

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Speaker 1: advanced to the next round after beating the Nuggets in

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Speaker 1: Game five one. In baseball, the Yankees beat the Orioles

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Speaker 1: five to the Mets and Nationals lost. The Red Sox

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Speaker 1: won the A shut out the Giants one zip. In

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Speaker 1: the NHL, the Rangers lost. Global News twenty four hours

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Speaker 1: a day on air and on Bloomberg Quicktake, powered by

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Speaker 1: more than twenty seven hundredtournalist and analysts more than a

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Speaker 1: d twenty countries. Michael Barr and this is Bloomberg him, Michael.

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Speaker 1: Thanks almost six twenty on Wall Street Live from the

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Speaker 1: bloo Burg Interactive Broker Studios. This is Bloomberg Daybreak on

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Speaker 1: a day we are waiting for a bit of a

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Speaker 1: data dump when it comes to this economy, including first

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Speaker 1: reading on first quarter g d P, A big round

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Speaker 1: of data for the Federal Reserve to consider as it

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Speaker 1: will most likely gets ready to raise interest rates next week.

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Speaker 1: Let's bring in Bloomberg Economics correspondent Michael McKee for more

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Speaker 1: on what we're expecting today, Mike, good morning. Looking at

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Speaker 1: the GDP expectation from Bloomberg Economist survey one percent after

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Speaker 1: six point nine in the prior quarter. What could that deceleration,

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Speaker 1: if it turns out mean for the Fed. Uh. You

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Speaker 1: have gonna have to look below that number to really

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Speaker 1: get an answer, Nathan. And the interesting thing is the

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Speaker 1: Bloomberg survey is very broad, UH, and a lot of

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Speaker 1: people put in their survey results and forecasts early and

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Speaker 1: then don't change them. We had a string of Wall

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Speaker 1: Street firms changing their forecast yesterday, including a number who

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Speaker 1: think that we might see an actual contraction. So if

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Speaker 1: Wall Street is prepared to be shocked, that is a possibility.

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Speaker 1: But it hides the fact that the reason for the

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Speaker 1: bad economic performance is basically, UH, inventories and trade. A

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Speaker 1: lot of people ordered a lot of stuff last fall,

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Speaker 1: you remember, and it was all sitting on boats off

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Speaker 1: the coast of California, and they finally are able to

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Speaker 1: unload it in the first quarter in January and February,

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Speaker 1: and then it starts to count as imports. So imports

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Speaker 1: went way up and we had a very wide trade

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Speaker 1: deficit and then a lot of those goods going to inventories,

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Speaker 1: and uh so maybe then companies cut back on production

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Speaker 1: because they were getting inventories from overseas. Those two things

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Speaker 1: really will influence it. Personal spending consumers apparently did quite well.

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Speaker 1: The anticipation, according to Bloomberg survey is for three and

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Speaker 1: a half percent game and so the FED would take

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Speaker 1: reassurance from that that varius is the question though, I

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Speaker 1: guess the raises a couple of questions, whether that of

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Speaker 1: personal spending can continue when we have these kind of

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Speaker 1: inflationary pressures, and whether the trade gap is starting to

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Speaker 1: show signs of unwinding in terms of the supply chain.

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Speaker 1: Bottle next you've been dealing with, Well, it did show

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Speaker 1: signs of unwinding until China began to lock down everything.

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Speaker 1: And now if you look, if you have a Bloomberg

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Speaker 1: and you look on the terminal, you can see the

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Speaker 1: charts that show thousands and thousands of ships just sitting

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Speaker 1: off the coast of China. Presumably those will ultimately be

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Speaker 1: loaded up and sent back over here and we'll have

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Speaker 1: the same problem again. So that's in the future. Uh

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Speaker 1: The question is do people, as you say, keep spending

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Speaker 1: in so far, indications are that they have slowed a

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Speaker 1: little bit and sort of changed what they're buying from

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Speaker 1: a lot of discretionary goods to more services. Certainly everybody's

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Speaker 1: going on vacation and traveling if you've been in an

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Speaker 1: airport lately. But does that continue? That's one of the

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Speaker 1: key questions to the Fed. They need some strengthen the

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Speaker 1: economy if they're gonna start raising interest rates to keep

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Speaker 1: unemployment from rising. Yeah, and I guess that also raises

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Speaker 1: the question about how much this UH, this reading potentially

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Speaker 1: affects the Fed's outlook when it comes to front loading

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Speaker 1: rate hikes. I mean, the the markets priced in four

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Speaker 1: fifty basis point moves, and the markets maybe a little

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Speaker 1: ahead of themselves here with that, the FT isn't going

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Speaker 1: to be looking at doing that because they're not gonna

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Speaker 1: be looking at that far down the road. Yet they

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Speaker 1: want to see, as you say, the data. We also

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Speaker 1: get jobless claims today, which are forecast to come in

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Speaker 1: at a very very low level again UH in about

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Speaker 1: the one eight range. And because of that, the FET

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Speaker 1: is likely to take some comfort in the fact that

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Speaker 1: the economy is a bit stronger than it has been

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Speaker 1: going into a FED tightening cycle in a long time,

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Speaker 1: and so therefore they can raise rates at least fifty

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Speaker 1: basis points this time, and maybe in June, and then

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Speaker 1: they'll stop and see where they are, all right, Michael McKee,

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Speaker 1: Bloomberg Economics correspondent, Gonna be very busy in just a

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Speaker 1: couple hours here when we get that first quarter GDP

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Speaker 1: read at eight thirty Wall Street time, along with the

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Speaker 1: initial jobless claims core PCE lots to wade through this

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Speaker 1: morning as we get ready for that May interest rate

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Speaker 1: setting meeting coming up just next week, FED with a

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Speaker 1: big decision to make in the days to come. Here

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Speaker 1: right now, looking ahead to the market, open futures are

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Speaker 1: higher by sixty points for US and P futures. We

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Speaker 1: have Dow futures up two hundred seventy seven points, NASDAC

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Speaker 1: futures higher by two hundred sixty points, a gain of

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Speaker 1: two percent on the dot ten. Your treasury is up

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Speaker 1: six thirty seconds, the yield two point zero percent, the

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Speaker 1: yield on the two year two point five six. Just ahead,

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Speaker 1: investors like meta earnings and inflation starts to hit the

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Speaker 1: household outlook. Five things you need to know to start

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Speaker 1: your day Wing up, You're listening to Bloomberg Daybreak Bloomberg

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Speaker 1: eleven three oh weather mix of sun and cloud's breezy

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Speaker 1: mid fifties for highest today, could at sixty tomorrow with

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Speaker 1: a sunshine and a breeze mostly sunny, low sixties for Saturday.

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Speaker 1: Right now forty in Central Park. Broadcasting live from the

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Speaker 1: Bloomberg Interactive Broker Studio in New York. Bloomberg E Living

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Speaker 1: free on to Washington, d C, Bloomberg ninety nine one

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Speaker 1: to Boston, Bloomberg one O six one to San Francisco,

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Speaker 1: Bloomberg nine sixty to the Country, Sirius XM Chado one

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Speaker 1: nine team, and around the globe the Bloomberg Business apt

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Speaker 1: and Bloomberg Radio dot Com. This is Bloomberg Daybreak six

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Speaker 1: thirty on Wall Street. Good morning. I'm Nathan Hagar and

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Speaker 1: I'm Karen Moscow. Were just about three hours away from

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Speaker 1: the open of US trading time for the five things

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Speaker 1: you need to notice start your day to you by

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Speaker 1: Interactive Brokers Simple I v K are Global Trader app,

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Speaker 1: Europe and Asia. Start your free trial at ibkr dot com,

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Speaker 1: slash Global trader first Meta shares that more than sixteen percent.

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Speaker 1: This morning, mass after earning showed Facebook adding more users

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Speaker 1: than projected. Man Deep Singh, a senior technology analystic Bloomberg Intelligence.

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Speaker 1: He says the overall report is strong despite missing revenue estimates.

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Speaker 1: Last time, they give us a surprise that they're spending

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Speaker 1: an additional you know, twenty billion dollars on this reality lapse.

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Speaker 1: That's the first time we learned about those numbers. This

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Speaker 1: time around, there saying they don't plan to increase it,

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Speaker 1: but they plan to pair back a little bit. And

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Speaker 1: the core Facebook and Instagram engagement seems to be holding

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Speaker 1: up quite well. Bloomberg Intelligence analyst man Deep sing says

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Speaker 1: Facebook added more than thirty million new users and the

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Speaker 1: quarter and big tech earnings will continue today. Amazon and

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Speaker 1: Apple report after the bell. Turning to the economy care

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Speaker 1: and we get a reading on growth today. Us GDP

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Speaker 1: is expected the show a one percent gain when the

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Speaker 1: figures come out this morning. Well, Nathan, according to new finding,

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Speaker 1: entire inflation is affecting many Americans. Financial Outlook and Bloomberg's

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Speaker 1: raned a young joint US Live. But the latest good

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Speaker 1: Morning Rady to Good Morning, Karen A gallop poles So

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Speaker 1: shows less than half of Americans rate their financial situation

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Speaker 1: as good or excellent, and some forty eight percent say

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Speaker 1: it's worsening. That's similar to levels seen a month into

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Speaker 1: the pandemic and during the financial crisis of two thousand

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Speaker 1: and eight. So what's driving the worry? The survey finds

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Speaker 1: that a record thirty two percent of Americans rank inflation

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Speaker 1: and a high cost of living as the most important

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Speaker 1: financial problem facing their family today. Live in New York.

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Speaker 1: I'm Ranita Young Bloomberg, day break. All right, Renia, thanks overseas.

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Speaker 1: The Japanese yen hit a two decade low against the dollar.

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Speaker 1: Right now, the ends trading at one thirty point to four. Well, Nathan.

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Speaker 1: President Biden delivers your remarks on Ukraine later today as

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Speaker 1: he prepares a proposal for Congress to ship more weapons. Meantime,

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Speaker 1: The Financial Times reports Germany and other European nations could

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Speaker 1: open ruble accounts to pay for Russian gas. Patrick Dehan

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Speaker 1: of gas Buddy says uncertainty in Russia and COVID in

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Speaker 1: China will continue affecting gas prices. Certainly a very bumpy

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Speaker 1: and volatile summer as we continue to see markets digest

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Speaker 1: burying headlines that seemingly are on opposite ends of the spectrum.

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Speaker 1: And Patrick Dehn with Gas Bunny spoke with our Joe

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Speaker 1: Matthew on Bloomberg Sound on. Catch the show weekdays at

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Speaker 1: five pm Eastern on Bloomberg Radio. And that's the fine

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Speaker 1: things you need to notice start your day. Brought to

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Speaker 1: you by Interactive Brokers and Caterpillar reporting earnings that beating

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Speaker 1: that beat analysts estimates. All right, Karen, thanks, six Wall Street,

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Speaker 1: forty degrees in Central Park, overturned car and Queens. He's

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Speaker 1: found l a at Frances Lewis Bullivard. Details coming up

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Speaker 1: in traffic. First Michael Barr with more on what's going

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Speaker 1: on in New York and around the world. Good morning, Michael,

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Speaker 1: Good morning Nathan. New York's mt A is going for

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Speaker 1: zero emissions by the authority plans to ramp up its

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00:23:58,640 --> 00:24:02,119
Speaker 1: number of electric buses. The md A anticipate sixty new

431
00:24:02,119 --> 00:24:04,840
Speaker 1: electric buses will start arriving later this year, with another

432
00:24:05,080 --> 00:24:10,600
Speaker 1: four hundred seventy coming in and six. The MTA plans

433
00:24:10,600 --> 00:24:13,840
Speaker 1: to transition it's fifty eight hundred bus fleet to all

434
00:24:13,920 --> 00:24:18,000
Speaker 1: electric vehicles. Dr Anthony Vounci CAUs quite a stir after

435
00:24:18,080 --> 00:24:20,919
Speaker 1: comments he made the PBS suggesting that the US is

436
00:24:20,960 --> 00:24:24,439
Speaker 1: not in the pandemic phase of COVID nineteen anymore. He

437
00:24:24,520 --> 00:24:27,879
Speaker 1: clarified those comments, saying the pandemic isn't over, but the

438
00:24:27,920 --> 00:24:30,880
Speaker 1: country is now in a different phase. Health experts say

439
00:24:30,920 --> 00:24:33,960
Speaker 1: cases are going down because many people now have some

440
00:24:34,080 --> 00:24:37,399
Speaker 1: kind of immunity to the virus. Dr David Vegas. I

441
00:24:37,440 --> 00:24:39,800
Speaker 1: think what was implied and what was meant is that

442
00:24:39,840 --> 00:24:42,040
Speaker 1: we're at a better state in terms of the war

443
00:24:42,080 --> 00:24:44,800
Speaker 1: on COVID nineteen. What it means is is that we

444
00:24:44,840 --> 00:24:48,040
Speaker 1: are now having significant numbers of COVID enteen infections in

445
00:24:48,040 --> 00:24:50,800
Speaker 1: the United States, has evidenced by the recent infection of

446
00:24:50,840 --> 00:24:53,879
Speaker 1: our Vice president. But at the same time, hospitalizations and

447
00:24:53,960 --> 00:24:57,359
Speaker 1: deaths are not going up. Dr Vegas spoke to CBS.

448
00:24:57,680 --> 00:25:00,680
Speaker 1: New York Science Court has rejected new congre national maps

449
00:25:00,720 --> 00:25:04,520
Speaker 1: widely seen as favoring Democrats. The state's Court of Appeals

450
00:25:04,560 --> 00:25:07,080
Speaker 1: agreed with a group of Republican voters who said the

451
00:25:07,119 --> 00:25:12,400
Speaker 1: district boundaries who were unconstitutionally gerrymandered. More New York City

452
00:25:12,440 --> 00:25:16,400
Speaker 1: apartment renders are declining to renew leases as they're being

453
00:25:16,440 --> 00:25:21,440
Speaker 1: presented with rate increases. According to Landlord Equity, residential rates

454
00:25:21,440 --> 00:25:24,680
Speaker 1: are up almost thirty on new leases and deal seekers

455
00:25:24,680 --> 00:25:27,560
Speaker 1: are choosing to move out. Trevor Reid, a former Marine

456
00:25:27,600 --> 00:25:30,800
Speaker 1: held in Russia since twenty nineteen, was released to US

457
00:25:30,880 --> 00:25:33,880
Speaker 1: officials as part of a prison swap with Russia. Key

458
00:25:33,920 --> 00:25:37,200
Speaker 1: negotiator and former US Ambassador to the United Nations Bill

459
00:25:37,280 --> 00:25:40,920
Speaker 1: Richardson says that their focus now turns to other detained

460
00:25:40,920 --> 00:25:45,160
Speaker 1: Americans in Russia, including w NBA star Brittney Grinder. It's

461
00:25:45,280 --> 00:25:48,840
Speaker 1: very murky what has happened, but she deserves to come home,

462
00:25:49,359 --> 00:25:52,679
Speaker 1: and it's important that we focus on her. But also

463
00:25:52,760 --> 00:25:56,080
Speaker 1: there's another Marie. His name is Paul Wheeling. He's been

464
00:25:56,119 --> 00:26:00,200
Speaker 1: there almost three years. Former Ambassador Richardson says re Its

465
00:26:00,240 --> 00:26:03,280
Speaker 1: parents expected home in a few days. President Biden on

466
00:26:03,320 --> 00:26:05,720
Speaker 1: our Teachers of the Year at the White House, Biden

467
00:26:05,760 --> 00:26:08,480
Speaker 1: says being a teachers one of the toughest jobs anywhere,

468
00:26:08,880 --> 00:26:12,920
Speaker 1: and show I think people won't realize it's hard how

469
00:26:13,000 --> 00:26:17,000
Speaker 1: much you prepare. President Biden says he overcame his stutter

470
00:26:17,040 --> 00:26:19,240
Speaker 1: as a child because of his parents and his teachers.

471
00:26:19,400 --> 00:26:21,560
Speaker 1: Global News twenty four hours a day on airand on

472
00:26:21,600 --> 00:26:24,840
Speaker 1: Bloomberg Quick Take, powered by more than seven journalists analysts

473
00:26:24,840 --> 00:26:27,760
Speaker 1: more than twenty countries. Michael bar this is Bloomberg, Nathan,

474
00:26:27,960 --> 00:26:35,800
Speaker 1: Thanks Michael. Six thirty six on Wall Street, John Stanshower

475
00:26:35,840 --> 00:26:38,320
Speaker 1: has the Bloomberg Sports Update. Thanks Nathan. The midst This

476
00:26:38,400 --> 00:26:40,639
Speaker 1: hot start by the Mets have come up florry of

477
00:26:40,800 --> 00:26:44,639
Speaker 1: Mets getting hit by a pitch nineteen times in twenty games.

478
00:26:44,640 --> 00:26:46,959
Speaker 1: It happened five times in St. Louis, so many were

479
00:26:47,000 --> 00:26:50,120
Speaker 1: wondering when the benches might empty with a Met charging

480
00:26:50,119 --> 00:26:52,359
Speaker 1: the mount. Instead, it was a cardinal who came charging

481
00:26:52,400 --> 00:26:54,199
Speaker 1: all of Arenado eighth inning after an up and end

482
00:26:54,200 --> 00:26:57,280
Speaker 1: pitch by the Mets. Yoan Lopez Aeronato had had three hits,

483
00:26:57,280 --> 00:26:59,680
Speaker 1: three rb I. St. Louis won the game ten five's

484
00:26:59,720 --> 00:27:02,080
Speaker 1: car Those Carrasco gave up seven runs, eight hits, and

485
00:27:02,160 --> 00:27:05,040
Speaker 1: that's still win the series. They've won all six series,

486
00:27:05,080 --> 00:27:07,679
Speaker 1: although they've yet to have a sweep. Yankees today go

487
00:27:07,720 --> 00:27:10,480
Speaker 1: for their second straight series sweep. They won their fifth

488
00:27:10,480 --> 00:27:13,040
Speaker 1: the row at the Stadium five two over Baltimore. Michael

489
00:27:13,119 --> 00:27:15,040
Speaker 1: King got the winning relaf home runs for Giant, Carlo

490
00:27:15,119 --> 00:27:18,000
Speaker 1: Stanton and Joey Gallo. The Yankees have the best record

491
00:27:18,400 --> 00:27:20,680
Speaker 1: in the American League right now. Rangers at the Guard

492
00:27:20,720 --> 00:27:23,240
Speaker 1: and lost to Montreal four to three. NBA Playoffs, a

493
00:27:23,280 --> 00:27:25,679
Speaker 1: couple of m v p s lad their teams to series.

494
00:27:25,720 --> 00:27:28,080
Speaker 1: Clint jen wins thirty three points for Janice Onto the

495
00:27:28,119 --> 00:27:31,679
Speaker 1: com from Milwaukee finished off Chicago thirty for Steph Curry,

496
00:27:31,680 --> 00:27:34,760
Speaker 1: and Golden State won hit series with Denver. NFL draft

497
00:27:34,840 --> 00:27:37,439
Speaker 1: is in Las Vegas, but New York will dominate the

498
00:27:37,480 --> 00:27:41,440
Speaker 1: early going tonight. After picks by Jacksonville, Detroit, and Houston,

499
00:27:41,520 --> 00:27:44,720
Speaker 1: it's the Jets, then the Giants, then Carolina, then the

500
00:27:44,800 --> 00:27:47,679
Speaker 1: Giants again, and three picks after that the Jets again,

501
00:27:48,200 --> 00:27:51,040
Speaker 1: unless there's a trade the Giants, GM Joe Shane. You

502
00:27:51,040 --> 00:27:53,359
Speaker 1: can get greedy and you're like, let's move back, and

503
00:27:53,400 --> 00:27:56,280
Speaker 1: then that guy's gone. You know, are you gonna sleep

504
00:27:56,320 --> 00:27:58,240
Speaker 1: better at night knowing you've got an extra sixth round

505
00:27:58,280 --> 00:28:00,240
Speaker 1: pick and you move back four spots, but you lose

506
00:28:00,280 --> 00:28:03,080
Speaker 1: the guy you want, or you just let's just take

507
00:28:03,119 --> 00:28:05,119
Speaker 1: the guy and not degree. So you've played through all

508
00:28:05,160 --> 00:28:08,359
Speaker 1: those situations. Still not known who Jacksonville will take first. Overall,

509
00:28:08,400 --> 00:28:10,960
Speaker 1: expect you to be one of two defensive WindMan Georgia's

510
00:28:10,960 --> 00:28:15,480
Speaker 1: Trayvon Walker or Michigan's Aidan Hutchinson. Expectually want Bloomberg Sports. Nathan,

511
00:28:15,560 --> 00:28:17,720
Speaker 1: all right, John, thanks six thirty seven on Wall Street.

512
00:28:17,720 --> 00:28:19,159
Speaker 1: Time to take a look at stock some of the

513
00:28:19,240 --> 00:28:22,160
Speaker 1: names moving in the pre market. Bloomberg Radio and TV

514
00:28:22,240 --> 00:28:25,119
Speaker 1: Markets correspondent Crety Gupta. It is hard to ignore the

515
00:28:25,160 --> 00:28:29,439
Speaker 1: move for Facebook parent meta platforms this morning. It is

516
00:28:29,600 --> 00:28:31,520
Speaker 1: wild and we should start off with just the ticker, right,

517
00:28:31,520 --> 00:28:33,320
Speaker 1: We're still haven't switched it to meta, so the taker

518
00:28:33,400 --> 00:28:37,800
Speaker 1: is still s B shares up seven percent over seventeen percent.

519
00:28:37,760 --> 00:28:40,600
Speaker 1: And if you will remember, Nathan, last quarter they had

520
00:28:40,600 --> 00:28:43,200
Speaker 1: this massive so off because they had the warning that

521
00:28:43,240 --> 00:28:46,040
Speaker 1: you're now hearing from Alphabet to be very careful about TikTok.

522
00:28:46,120 --> 00:28:48,800
Speaker 1: They're starting to lose some of that demographic. This time around,

523
00:28:48,840 --> 00:28:51,040
Speaker 1: we're hearing it from Alphabet. Facebook, on the other hand,

524
00:28:51,120 --> 00:28:54,160
Speaker 1: or i should say meta platforms saying that actually they've

525
00:28:54,160 --> 00:28:57,360
Speaker 1: gained more users than they actually expected in the first quarter.

526
00:28:57,400 --> 00:28:59,880
Speaker 1: Now a lot of this actually comes from Instagram. They're

527
00:28:59,880 --> 00:29:02,520
Speaker 1: not actually focusing on the Facebook platform anymore. They're focusing

528
00:29:02,560 --> 00:29:05,120
Speaker 1: on Instagram, and I think something they really that really

529
00:29:05,280 --> 00:29:08,640
Speaker 1: caught my eye here was the fact that they're saying, well,

530
00:29:08,640 --> 00:29:10,880
Speaker 1: be careful of TikTok. But Nathan, I don't know if

531
00:29:10,880 --> 00:29:14,040
Speaker 1: you're active on Instagram. I am. I do enjoy the Instagram.

532
00:29:14,040 --> 00:29:16,240
Speaker 1: Well there you go. But you know that there's they've

533
00:29:16,280 --> 00:29:18,680
Speaker 1: kind of created reels which is sort of a TikTok

534
00:29:18,680 --> 00:29:22,200
Speaker 1: and a lot of the TikTok's videos actually end up

535
00:29:22,360 --> 00:29:25,560
Speaker 1: on Instagram. Um, so it kind of seems like that

536
00:29:25,840 --> 00:29:29,040
Speaker 1: has made kind of this uh all in one platform

537
00:29:29,040 --> 00:29:31,400
Speaker 1: for Meda and at least helped with some of those

538
00:29:31,400 --> 00:29:34,520
Speaker 1: earnings pictures. So meta share, uh FB is the taker?

539
00:29:34,600 --> 00:29:37,560
Speaker 1: WinCE again up the over seventeen percent. It's not the

540
00:29:37,560 --> 00:29:40,200
Speaker 1: only tech name. We gotta watch your Apple, Amazon reporting

541
00:29:40,240 --> 00:29:43,680
Speaker 1: after the bell, but this is really important. Qualcom also

542
00:29:43,720 --> 00:29:48,160
Speaker 1: reported after hours yesterday, q C O M is your taker. Up.

543
00:29:48,280 --> 00:29:51,280
Speaker 1: Get this, Nathan, seven and a half percent. Now this

544
00:29:51,320 --> 00:29:54,800
Speaker 1: is the it's huge, and this is the company that

545
00:29:54,880 --> 00:29:57,720
Speaker 1: makes most of the chips for Apple's iPhones. It helps

546
00:29:57,720 --> 00:30:00,640
Speaker 1: Apple iPhones connect to high speed data net works. And

547
00:30:00,680 --> 00:30:03,040
Speaker 1: they're saying, well, actually they were able to kind of

548
00:30:03,040 --> 00:30:06,040
Speaker 1: secure their supply chain, they're able to expand into new markets.

549
00:30:06,240 --> 00:30:08,200
Speaker 1: And a lot of people say, well, if qual Calm

550
00:30:08,280 --> 00:30:10,840
Speaker 1: is doing so well, does that mean Apple's earnings are

551
00:30:10,840 --> 00:30:13,280
Speaker 1: going to be pretty blockbuster today? And then or vice versa,

552
00:30:13,360 --> 00:30:16,120
Speaker 1: if Apple says iPhone demand is going to drop, does

553
00:30:16,160 --> 00:30:18,280
Speaker 1: that start to hit qual Calm shares as well? Nevertheless,

554
00:30:18,280 --> 00:30:21,280
Speaker 1: this morning some optimism here. Q c o M up

555
00:30:21,520 --> 00:30:24,200
Speaker 1: just shive eight percent and Apple shares a ap L

556
00:30:24,280 --> 00:30:27,040
Speaker 1: following that lead up to point two percent. Nathan, all right,

557
00:30:27,120 --> 00:30:30,080
Speaker 1: just quickly, we had some earnings crossed just minutes ago.

558
00:30:30,200 --> 00:30:31,880
Speaker 1: Can you get to some of those. Yeah, let's talk

559
00:30:31,880 --> 00:30:34,680
Speaker 1: about Caterpillar. This is gonna be your big economic bell weather.

560
00:30:34,760 --> 00:30:38,440
Speaker 1: C at is your ticker. It is actually moving this

561
00:30:38,520 --> 00:30:40,480
Speaker 1: of course off earning as well, up one point six

562
00:30:40,520 --> 00:30:42,960
Speaker 1: percent as it overcomes to some of the supply chain

563
00:30:43,040 --> 00:30:45,640
Speaker 1: issues surging demand. One of the issues here was just

564
00:30:45,680 --> 00:30:47,920
Speaker 1: how much construction will there be after you've already seen

565
00:30:47,920 --> 00:30:50,200
Speaker 1: this housing movement. It looks like the maker of that

566
00:30:50,240 --> 00:30:54,160
Speaker 1: construction equipment maker still getting some of that demand. All right.

567
00:30:54,200 --> 00:30:57,520
Speaker 1: Bloomberg Radio and TV Markets correspondent Createy Gupta with us

568
00:30:57,680 --> 00:31:01,440
Speaker 1: this morning, looking ahead to the open. Futures are moving higher,

569
00:31:01,440 --> 00:31:04,560
Speaker 1: with SMP futures up fifty nine point, staff futures of

570
00:31:04,600 --> 00:31:07,520
Speaker 1: two D seventy seven, and NASTAC futures higher by two

571
00:31:07,560 --> 00:31:09,840
Speaker 1: hundred fifty five points. That's a gain of just about

572
00:31:09,840 --> 00:31:14,440
Speaker 1: two tenure Treasury up seven thirty seconds, yield to eighty.

573
00:31:15,120 --> 00:31:23,640
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather

574
00:31:23,720 --> 00:31:26,120
Speaker 1: mix of sun and clouds, breezy, mid fifties today, We'll

575
00:31:26,160 --> 00:31:29,520
Speaker 1: get up to near sixty Friday, sunshine with a breeze,

576
00:31:29,600 --> 00:31:31,640
Speaker 1: and it will be mostly sunny for Saturday as well.

577
00:31:31,720 --> 00:31:38,520
Speaker 1: Low sixties right now forty in Central Park Markets. Headlines

578
00:31:38,560 --> 00:31:41,560
Speaker 1: and breaking news twenty four hours a day at Bloomberg

579
00:31:41,600 --> 00:31:44,960
Speaker 1: dot Com, the Bloomberg Business apt and at Bloomberg Quick Tape.

580
00:31:45,520 --> 00:31:54,720
Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow. US

581
00:31:54,800 --> 00:31:57,720
Speaker 1: Dock Index futures are on the rise this morning. I'm

582
00:31:57,720 --> 00:31:59,960
Speaker 1: what's a busy morning for corporate earnings? You had a

583
00:32:00,000 --> 00:32:03,960
Speaker 1: again Caterpillars first quarter earnings, topping analysts estimates, as certain

584
00:32:04,000 --> 00:32:07,080
Speaker 1: demand and higher prices for the company's diggers, bulldozers and

585
00:32:07,160 --> 00:32:10,800
Speaker 1: trucks offsets the impact of rising costs for raw materials

586
00:32:10,800 --> 00:32:14,760
Speaker 1: and ongoing supply chain issues. Mark boosted its adjusted earnings

587
00:32:14,760 --> 00:32:18,560
Speaker 1: for share guidance for the year that beat analysts estimates,

588
00:32:18,600 --> 00:32:21,960
Speaker 1: and Southwest Air reported a first quarter of loss that

589
00:32:22,200 --> 00:32:25,320
Speaker 1: was wider than analysts were looking for. Those just some

590
00:32:25,360 --> 00:32:28,120
Speaker 1: of the earnings crossing the bloomberg this morning, Still futures

591
00:32:28,120 --> 00:32:31,800
Speaker 1: are higher, SMP futures of fifty seven points down, futures

592
00:32:31,800 --> 00:32:34,479
Speaker 1: of two hundred sixty two, and AS day futures jumping

593
00:32:34,520 --> 00:32:37,600
Speaker 1: up about two percent, up two hundred fifty four points.

594
00:32:37,680 --> 00:32:39,920
Speaker 1: The decks in Germany's up one point two percent. The

595
00:32:39,960 --> 00:32:42,560
Speaker 1: tender treasury of seven thirty seconds yield two point eight

596
00:32:42,640 --> 00:32:45,400
Speaker 1: zero percent yield on the two year two point five

597
00:32:45,440 --> 00:32:48,600
Speaker 1: five percent. Nim X scrude oil is litill change at

598
00:32:48,600 --> 00:32:51,720
Speaker 1: a hundred two dollars seven cents of barrel. Comics gold

599
00:32:51,960 --> 00:32:54,960
Speaker 1: is also little change at eight forty announced, the Euro

600
00:32:55,120 --> 00:32:58,600
Speaker 1: one point zero five zero seven against the dollar, British

601
00:32:58,600 --> 00:33:00,960
Speaker 1: pound one point to four seven and seven again one

602
00:33:01,000 --> 00:33:04,560
Speaker 1: thirty point three seven, and Bitcoin this morning is of

603
00:33:04,680 --> 00:33:07,520
Speaker 1: one and a half percent at about thirty nine thousand,

604
00:33:07,600 --> 00:33:10,320
Speaker 1: seven hundred dollars. That's a bloomberg Business Flash. Now here's

605
00:33:10,360 --> 00:33:12,880
Speaker 1: Nuchael Barr with more on what's going on around the world.

606
00:33:13,040 --> 00:33:16,520
Speaker 1: Michael Karen, thank you very much. Russian President Vladimir Putin

607
00:33:16,520 --> 00:33:19,680
Speaker 1: warned that any country is attempting to interfere in Ukraine

608
00:33:19,960 --> 00:33:24,040
Speaker 1: would face quote a lightning fast response from Russia. It

609
00:33:24,160 --> 00:33:26,840
Speaker 1: comes as NATO is saying it would welcome Finland and

610
00:33:26,920 --> 00:33:31,080
Speaker 1: Sweden with open arms should they decide to join. Later today,

611
00:33:31,160 --> 00:33:35,000
Speaker 1: President Joe Biden plans to deliver remarks on support for Ukraine.

612
00:33:35,360 --> 00:33:38,840
Speaker 1: Round one of the NFL draft begins tonight. The Jaguars

613
00:33:38,920 --> 00:33:41,160
Speaker 1: have the overall number one pick, the Jets of fourth,

614
00:33:41,200 --> 00:33:45,320
Speaker 1: the Giants select fifth. In the NBA playoffs, the Warriors

615
00:33:45,320 --> 00:33:47,960
Speaker 1: advanced to the next round after beating the Nuggets in

616
00:33:47,960 --> 00:33:52,240
Speaker 1: Game five. In baseball, the Yankees beat the Orioles five

617
00:33:52,320 --> 00:33:55,280
Speaker 1: to The Medicine Nationals lost the Red Sox one The

618
00:33:55,320 --> 00:33:57,959
Speaker 1: A shut out the Giants one zip. In the NHL,

619
00:33:58,040 --> 00:34:00,880
Speaker 1: the Rangers lost Global news in four hours a day

620
00:34:00,920 --> 00:34:03,880
Speaker 1: on air and on Bloomberg Quicktake, powered by more than

621
00:34:04,600 --> 00:34:07,200
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.

622
00:34:07,400 --> 00:34:11,000
Speaker 1: I'm Michael Barr. This is Bloomberg. The following commentary is

623
00:34:11,080 --> 00:34:15,640
Speaker 1: from Bloomberg Opinion Democracy. I'm Jonathan Bernstein, a columnist for

624
00:34:15,680 --> 00:34:20,360
Speaker 1: Bloomberg Opinion. Apparently private space companies are marketing space tourism

625
00:34:20,520 --> 00:34:26,040
Speaker 1: as democratization. My first reaction ridiculous. Wealthy space tourists are

626
00:34:26,160 --> 00:34:29,880
Speaker 1: much poorer symbols of democracy than Alan Shepard, Neil Armstrong

627
00:34:29,920 --> 00:34:33,040
Speaker 1: and Sally Ride and the politicians who sent into space

628
00:34:33,239 --> 00:34:36,400
Speaker 1: and the voters who elected them. There's nothing more democratic

629
00:34:36,680 --> 00:34:40,760
Speaker 1: than a polity collectively choosing and achieving a goal. Ideas

630
00:34:40,760 --> 00:34:44,239
Speaker 1: of democracy that exclude Ride and include those who by

631
00:34:44,280 --> 00:34:47,680
Speaker 1: their way into space are sad. Still, I doubt those

632
00:34:47,719 --> 00:34:51,920
Speaker 1: pitching space privatization as democratizing care. They're just using a

633
00:34:51,920 --> 00:34:55,759
Speaker 1: popular word. That's sort of good news. Democracy in the

634
00:34:55,840 --> 00:34:57,840
Speaker 1: US has been under attack, but it seems that the

635
00:34:57,840 --> 00:35:01,200
Speaker 1: word itself must still test well. Perhaps we can be

636
00:35:01,239 --> 00:35:04,080
Speaker 1: ignorant of the nuances of democracy, important as they are,

637
00:35:04,520 --> 00:35:07,920
Speaker 1: as long as we fully support the larger concept overall.

638
00:35:07,960 --> 00:35:10,360
Speaker 1: I can't help but wish that our civic education was

639
00:35:10,400 --> 00:35:12,960
Speaker 1: a lot more thorough and effective. But if we still

640
00:35:13,000 --> 00:35:16,880
Speaker 1: are enthusiastic about democracy, maybe that's a meaningful starting point.

641
00:35:17,400 --> 00:35:20,240
Speaker 1: I'm Jonathan Bernstein. For more opinion, please go to Bloomberg

642
00:35:20,239 --> 00:35:22,440
Speaker 1: dot com slash Opinion or O P I n go

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00:35:22,760 --> 00:35:26,520
Speaker 1: on the Bloomberg terminal. This has been Bloomberg Opinion and

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00:35:26,560 --> 00:35:30,080
Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this time,

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Speaker 1: and terminal customers can read more at O P I

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Speaker 1: n go. It is six fifty on Wall Street. We

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00:35:35,640 --> 00:35:37,920
Speaker 1: turned to news and science and technology now with the

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00:35:37,960 --> 00:35:40,960
Speaker 1: Bloomberg n j I T STEM Report, brought to you

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Speaker 1: by New Jersey Institute of Technology. N j i T

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Speaker 1: T dot E d U slash fintech Now. Here's just

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00:35:53,360 --> 00:35:56,719
Speaker 1: making news and science, technology, engineering, and math. At least

654
00:35:56,719 --> 00:35:59,680
Speaker 1: six states are reporting confirmed our suspected cases of an

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00:35:59,719 --> 00:36:03,440
Speaker 1: una explained severe liver disorder in children that's been spotted

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00:36:03,480 --> 00:36:06,280
Speaker 1: in countries around the globe. More than one hundred sixty

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00:36:06,320 --> 00:36:10,440
Speaker 1: cases of severe pediatric hepatitis or liver inflammation and kids

658
00:36:10,480 --> 00:36:13,680
Speaker 1: without existing health issues have been reported from about a

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00:36:13,719 --> 00:36:17,480
Speaker 1: dozen countries. The disorder has been seen mainly in children

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00:36:17,600 --> 00:36:21,480
Speaker 1: younger than ten and has left a few needing liver transplants.

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00:36:21,719 --> 00:36:25,360
Speaker 1: Researchers are probing lengths to infection with IDENTA virus is

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00:36:25,600 --> 00:36:28,600
Speaker 1: a family of pathogens that more commonly caused cold like

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00:36:28,840 --> 00:36:33,040
Speaker 1: symptoms as well as COVID. Nineteen cities across China are

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00:36:33,120 --> 00:36:35,840
Speaker 1: rolling out swift measures from the mass testing drives to

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00:36:35,920 --> 00:36:39,279
Speaker 1: lockdowns for just a mere handful of coronavirus cases. They're

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00:36:39,280 --> 00:36:41,320
Speaker 1: trying to keep flare ups at bay and avoid the

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00:36:41,360 --> 00:36:45,920
Speaker 1: hardships endured by Shanghai. And they have arrived. SpaceX launched

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00:36:45,920 --> 00:36:49,759
Speaker 1: for astronauts to the International Space Station for NAUSA. The

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00:36:49,800 --> 00:36:53,440
Speaker 1: Falcon rocket blasted off before dawn yesterday from Florida's Kennedy

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00:36:53,520 --> 00:36:56,600
Speaker 1: Space Center. The capsule reached its destination last night to

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00:36:56,719 --> 00:36:59,919
Speaker 1: sixteen hours later. The crew includes the first black woman

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00:37:00,040 --> 00:37:03,160
Speaker 1: making a long term space flight. Now says Jessica Watkins

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00:37:03,560 --> 00:37:06,600
Speaker 1: and s A. Bloomberg and j I t. Stem report Nathan,

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00:37:06,760 --> 00:37:10,000
Speaker 1: Thanks Karen, We're live from the Bloomberg Interactive Broker Studios

675
00:37:10,080 --> 00:37:12,319
Speaker 1: or at six fifty two on Wall Street Time Now

676
00:37:12,320 --> 00:37:14,000
Speaker 1: to check what's going on in d C or. Some

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00:37:14,080 --> 00:37:16,720
Speaker 1: of the top stories include President Biden preparing to speak

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00:37:16,719 --> 00:37:19,000
Speaker 1: on Ukraine as he gets ready for a new aid

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00:37:19,040 --> 00:37:22,640
Speaker 1: request to Congress Senators to hold a bipartisan meeting on

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00:37:22,680 --> 00:37:27,839
Speaker 1: immigration today and former President Trump's backing gives McCarthy an

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00:37:27,960 --> 00:37:32,880
Speaker 1: edge after leaked audio spring Bloomberg Government congressional reporter Jack Fitzpatrick,

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00:37:32,960 --> 00:37:35,680
Speaker 1: As we await these remarks in just a few hours,

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00:37:35,920 --> 00:37:38,239
Speaker 1: Jack from the President, what will you be listening for

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00:37:38,360 --> 00:37:42,120
Speaker 1: when he updates the country on Ukraine. Well, one, he's

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00:37:42,120 --> 00:37:46,120
Speaker 1: gonna be talking about his request to Congress for more

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00:37:46,200 --> 00:37:49,439
Speaker 1: funds for Ukraine. The White House has described this as

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Speaker 1: something that's supposed to carry them through the rest of

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00:37:51,760 --> 00:37:54,040
Speaker 1: the rest of the fiscal year, which ends September thirty,

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00:37:54,200 --> 00:37:57,799
Speaker 1: So it sounds like it's fairly large, uh a bit

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00:37:57,840 --> 00:38:01,360
Speaker 1: more long term than the thirteen billion dollar measure that

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00:38:01,480 --> 00:38:04,399
Speaker 1: was previously appropriated that was a bit of a sort

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00:38:04,440 --> 00:38:07,239
Speaker 1: of a stop gap measure for short term needs. Now,

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00:38:07,360 --> 00:38:10,879
Speaker 1: the Secretary of State Anthony Blincoln has already told lawmakers yes,

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00:38:10,920 --> 00:38:14,720
Speaker 1: there's gonna obviously be military and economic aid. He also

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00:38:14,800 --> 00:38:18,440
Speaker 1: expects the White House to call for global food aid

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00:38:18,960 --> 00:38:21,880
Speaker 1: uh D mining because of Russian use of land mines

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00:38:22,360 --> 00:38:26,120
Speaker 1: and some resources for sort of a staged approach to

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00:38:26,200 --> 00:38:30,640
Speaker 1: getting diplomats back to Ukraine and eventually reopening the U.

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00:38:30,760 --> 00:38:34,320
Speaker 1: S Embassy and kiv Uh. The the questions this raises

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00:38:34,760 --> 00:38:37,920
Speaker 1: exactly how does Congress take this after the President speaks

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00:38:37,960 --> 00:38:41,360
Speaker 1: about it? Uh, could the debate that has stalled a

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00:38:41,440 --> 00:38:45,120
Speaker 1: COVID funding bill extend to that. But overall, it sounds

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00:38:45,120 --> 00:38:48,480
Speaker 1: like there's significant bipartisan support for the idea of of

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00:38:48,560 --> 00:38:52,360
Speaker 1: significant Ukraine aid. And we'll be watching for the details

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00:38:52,360 --> 00:38:55,120
Speaker 1: and exactly how much he's asking for. Yeah, it will

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00:38:55,120 --> 00:38:58,799
Speaker 1: be interesting to get more detail, given that we've heard,

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00:38:58,880 --> 00:39:02,799
Speaker 1: even just this week some concern at the Pentagon that

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00:39:03,239 --> 00:39:06,120
Speaker 1: a lot of the U S weapons stockpiles are at

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00:39:06,200 --> 00:39:08,759
Speaker 1: risk of being depleted with the aid that's already gone

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00:39:08,800 --> 00:39:13,320
Speaker 1: to Ukraine. Yes, there was one last batch of funding

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00:39:13,480 --> 00:39:17,480
Speaker 1: that the White House released late last week, and and

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00:39:17,520 --> 00:39:20,480
Speaker 1: the President said last week this is the last one

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00:39:20,520 --> 00:39:22,760
Speaker 1: I can do with the money that Congress has given

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00:39:22,800 --> 00:39:27,000
Speaker 1: me for Ukraine. Obviously there are further needs, and the

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00:39:27,000 --> 00:39:30,399
Speaker 1: White House staff seems to have been racing to get

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00:39:30,440 --> 00:39:32,680
Speaker 1: everything together to say, all right, what do we need

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00:39:32,719 --> 00:39:35,520
Speaker 1: to request from Congress that can last for a while,

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00:39:35,640 --> 00:39:38,360
Speaker 1: for a matter of months, rather than uh, in needing

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00:39:38,360 --> 00:39:41,360
Speaker 1: to go back to them on a very frequent basis.

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00:39:41,760 --> 00:39:45,000
Speaker 1: So they they're they're getting toward the end of what's

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Speaker 1: available to the President on his own in terms of

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00:39:47,640 --> 00:39:52,600
Speaker 1: sending resources militarily and economically to Ukraine, and they definitely

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00:39:52,640 --> 00:39:55,400
Speaker 1: will need action in the in the fairly near future. Now,

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Speaker 1: while we wait for those remarks from the President later

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00:39:57,640 --> 00:40:00,239
Speaker 1: this morning, we're also waiting for a meeting a among

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00:40:00,360 --> 00:40:04,399
Speaker 1: a bipartisan group of senators today on immigration. This issue

727
00:40:04,440 --> 00:40:08,120
Speaker 1: has gotten a lot more urgency just in recent weeks. Jack, Yeah,

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00:40:08,120 --> 00:40:10,719
Speaker 1: there seems to be a sense that they might as

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00:40:10,760 --> 00:40:13,399
Speaker 1: well try to to give it another go and see

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00:40:13,440 --> 00:40:15,680
Speaker 1: what they can assemble that could get sixty votes in

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00:40:15,719 --> 00:40:18,480
Speaker 1: the Senate. There have been so many attempts over the

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00:40:18,560 --> 00:40:21,759
Speaker 1: last number of years, last decade or so at a

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00:40:21,840 --> 00:40:25,880
Speaker 1: real immigration reform package that have fallen apart. But talking

734
00:40:25,920 --> 00:40:28,919
Speaker 1: to senators like Tom Tillis, Uh, there seems to be

735
00:40:29,320 --> 00:40:33,359
Speaker 1: an interest one in addressing the worker shortage UH, and

736
00:40:33,440 --> 00:40:36,919
Speaker 1: also putting on the table a path to citizenship for

737
00:40:36,960 --> 00:40:39,799
Speaker 1: the so called dreamers who are were not born in

738
00:40:39,840 --> 00:40:42,319
Speaker 1: the US but have been here for almost all of

739
00:40:42,360 --> 00:40:46,680
Speaker 1: their lives, and and something on border security. Interestingly, enough

740
00:40:46,880 --> 00:40:50,000
Speaker 1: lawmakers really have dropped the debate over the quote unquote

741
00:40:50,000 --> 00:40:53,600
Speaker 1: border wall now that former President Donald Trump is not

742
00:40:53,719 --> 00:40:56,640
Speaker 1: in office, there is a bit of middle ground on

743
00:40:56,760 --> 00:41:01,080
Speaker 1: border security measures aside from fencing things, lights on the border,

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00:41:01,320 --> 00:41:04,560
Speaker 1: more technologically advanced things. So there there does seem to

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00:41:04,560 --> 00:41:06,600
Speaker 1: be a sense that they could find middle ground on

746
00:41:07,520 --> 00:41:10,800
Speaker 1: a significant package on immigration. It's not an easy issue,

747
00:41:10,960 --> 00:41:13,399
Speaker 1: but they are holding a meeting today among senators to

748
00:41:13,400 --> 00:41:15,920
Speaker 1: to get that conversation going. And not an easy issue

749
00:41:15,960 --> 00:41:18,840
Speaker 1: and understatement to say the least, only about thirty seconds

750
00:41:18,920 --> 00:41:22,000
Speaker 1: left here, Jack, But House Republican leader Kevin McCarthy just

751
00:41:22,080 --> 00:41:24,480
Speaker 1: met with Republicans for the first time since that leak

752
00:41:24,640 --> 00:41:28,439
Speaker 1: January six. Audio. Sounds like it went pretty well. Yeah.

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00:41:28,440 --> 00:41:31,200
Speaker 1: Our colleagues Billy House and Emily Wilkins reported there was

754
00:41:31,200 --> 00:41:34,920
Speaker 1: actually a standing ovation that many House Republicans participated in.

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00:41:35,160 --> 00:41:37,640
Speaker 1: There's been a little bit of pushback. Matt Gates has

756
00:41:37,960 --> 00:41:40,919
Speaker 1: is the one member who has been really vocal criticizing

757
00:41:41,000 --> 00:41:45,640
Speaker 1: Kevin McCarthy. But really, even among conservatives Trump loyalists, the

758
00:41:45,680 --> 00:41:48,680
Speaker 1: former president gave Kevin McCarthy a pass on this leaked

759
00:41:48,719 --> 00:41:51,840
Speaker 1: audio of him considering calling on him to resign. He

760
00:41:51,960 --> 00:41:54,759
Speaker 1: didn't end up calling him on him to resign, And

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00:41:54,840 --> 00:41:57,400
Speaker 1: as of right now, it does seem that House Republicans

762
00:41:57,400 --> 00:42:00,400
Speaker 1: really are still united around Kevin McCarthy is guy they

763
00:42:00,440 --> 00:42:03,280
Speaker 1: want to be the speaker if they take back the House. Alright.

764
00:42:03,280 --> 00:42:07,160
Speaker 1: Bloomberg Government Congressional reporter Jack Fitzpatrick with us this morning.

765
00:42:07,440 --> 00:42:10,279
Speaker 1: Read more about all these stories on Bloomberg dot com

766
00:42:10,400 --> 00:42:13,080
Speaker 1: or on the Bloomberg terminal, and listen to Bloomberg Radio

767
00:42:13,200 --> 00:42:17,560
Speaker 1: in Washington Bloomberg one and one oh five point seven

768
00:42:17,560 --> 00:42:22,879
Speaker 1: FM HD two. Futures moving higher. Uh this Thursday morning.

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00:42:22,920 --> 00:42:26,080
Speaker 1: We have SMP futures up fifty five points, STAF futures

770
00:42:26,200 --> 00:42:30,280
Speaker 1: up two nine, NASTACK futures hired by two hundred fifty

771
00:42:30,360 --> 00:42:33,120
Speaker 1: points ten. Your treasury is up seven thirty seconds. The

772
00:42:33,200 --> 00:42:35,279
Speaker 1: yield two point eight zero percent, yield on the two

773
00:42:35,360 --> 00:42:40,239
Speaker 1: year two point five five percent. Bloomberg Surveillance is up

774
00:42:40,280 --> 00:42:44,120
Speaker 1: next with Tom Keene, Jonathan Faroe, and Lisa Abramowitz for

775
00:42:44,239 --> 00:42:48,400
Speaker 1: Karen Moscow. I'm Nathan Hagar. This is Bloomberg