WEBVTT - Bloomberg Daybreak: April 28, 2022 - Hour 2 (Radio) 0:00:02.920 --> 0:00:05.640 Live from the Bloomberg Interact a Broker Studios. This is 0:00:05.680 --> 0:00:10.080 Bloomberg Daybreak for a Thursday, April two. Coming up this hour, 0:00:10.400 --> 0:00:14.440 Shares of Netta surge after Facebook adds more users than expected. 0:00:14.520 --> 0:00:18.040 Apple and Amazon report this afternoon. The President invited Plants 0:00:18.079 --> 0:00:20.919 to deliver remarks today on more support for Ukraine, and 0:00:20.960 --> 0:00:24.840 Americans grow more pessimistic about their finances as infliction takes 0:00:24.840 --> 0:00:27.320 a toll. New York's MTA wants to ramp up its 0:00:27.360 --> 0:00:30.840 fleet of electric buses. Plus DOCORFLGI clarifies as a comment 0:00:30.920 --> 0:00:33.559 that the US is not in the pandemic phase. I'm 0:00:33.600 --> 0:00:36.840 Michael blarn More ahead, I'm John Stay Sharon sports fifth 0:00:36.840 --> 0:00:39.239 straight win for the Yankees, the Mets lost as the 0:00:39.320 --> 0:00:44.760 bench is empty in the NFL draft, agins tonight. That's 0:00:44.760 --> 0:00:48.479 all s train ahead on Bloomberg Daybreak on Bloomberg eleven 0:00:48.520 --> 0:00:51.960 three on New York, Bloomberg nine one, Washington d C, 0:00:52.440 --> 0:00:56.040 Bloomberg one oh six one, Boston, Bloomberg nine sixties and 0:00:56.120 --> 0:01:00.000 Francisco Sirius XAM one nine Team and around the world 0:01:00.000 --> 0:01:03.080 Old on Bloomberg Radio dot Com and via the Bloomberg 0:01:03.120 --> 0:01:09.720 Business App. And Good Morning I'm ferre in Moscow. I'm 0:01:09.800 --> 0:01:12.880 Nathan Hagar. Bloomberg Daybreak is brought to you by hc Waynwright. 0:01:12.959 --> 0:01:16.240 Register now for the hc W Global Investment Conference, a 0:01:16.319 --> 0:01:19.520 hybrid event one to twenty six. Go to h c 0:01:19.720 --> 0:01:22.920 W Events dot com. HCW reserves the writing discretion to 0:01:22.920 --> 0:01:26.720 accept a reject registration or admission and Nathan futures are higher. 0:01:26.720 --> 0:01:28.680 This morning six I went on Wall Street. We checked 0:01:28.680 --> 0:01:31.600 the markets every fifteen minutes throughout the trading day on Bloomberg, 0:01:31.640 --> 0:01:35.000 but SNP futures up sixty five points down, futures of 0:01:35.080 --> 0:01:37.920 three hund twenty one and NASDACK futures leading the way 0:01:37.959 --> 0:01:40.520 up two hundred seventy three or two point one percent. 0:01:40.800 --> 0:01:43.039 Ten year treasury of four third day seconds yeld two 0:01:43.040 --> 0:01:45.000 point eight one percent, and they yield on the two 0:01:45.080 --> 0:01:48.080 year two point five seven percent. Nathan Well Karen that 0:01:48.120 --> 0:01:53.120 lifted NASTAC futures follows Facebook parent Meta's latest earnings. The 0:01:53.200 --> 0:01:57.559 shares are up nearly seventeen percent after Facebook's main social 0:01:57.600 --> 0:02:00.800 network added more users than project at the company says 0:02:00.840 --> 0:02:02.880 revenue would have been higher if not for the war 0:02:02.920 --> 0:02:06.120 in Ukraine. Man Deep Singh is a senior technology analyst 0:02:06.200 --> 0:02:10.000 for Bloomberg Intelligence, the core of Facebook and Instagram engagement 0:02:10.240 --> 0:02:13.000 seems to be holding up quite well, so I think 0:02:13.040 --> 0:02:16.960 these are definitely good numbers. They missed on the top line, 0:02:17.000 --> 0:02:19.200 but we know it's because of the ad pricing, and 0:02:19.360 --> 0:02:22.760 I think that was sort of expectant. Bloomberg Intelligence Senior 0:02:22.800 --> 0:02:25.760 analyst Mandieve Singh says Facebook added thirty one million new 0:02:25.880 --> 0:02:28.720 daily active users in the recent quarter. Well, Nathan, let's 0:02:28.720 --> 0:02:30.399 look at some of the other stocks on the move 0:02:30.440 --> 0:02:33.680 following earnings. You report shares a Qualcom up almost eight percent. 0:02:33.919 --> 0:02:36.280 The chipmaker gave a strong sales for camps for the 0:02:36.320 --> 0:02:40.120 current quarter. Ford Meat Estimate estimates it reaffirmed as guidence 0:02:40.160 --> 0:02:42.320 for the year. That stock is up more than two percent. 0:02:42.600 --> 0:02:45.600 And the biggest loser this morning is Telenoc Health shares 0:02:45.600 --> 0:02:49.200 are plunging more than thirty nine percent. Telemedicine company cutting 0:02:49.200 --> 0:02:51.480 its revenue and earning scuidence for the year, and the 0:02:51.480 --> 0:02:54.040 earnings continue to roll in today, Karen, With big tech 0:02:54.160 --> 0:02:56.720 once again leading the way after the bell, we hear 0:02:56.760 --> 0:02:59.960 from Apple and Amazon. Let's get a preview from Bloomberg's 0:03:00.000 --> 0:03:03.040 Tom Busby. Well, investors will see if Apple saw continued 0:03:03.040 --> 0:03:07.120 growth in sales of iPhones, iPads, max and services despite 0:03:07.160 --> 0:03:10.600 supply chain problems and chip shortages. Forecast call for earnings 0:03:10.600 --> 0:03:13.520 per share of one dollar forty three cents on revenue 0:03:13.760 --> 0:03:17.360 of just over ninety four billion dollars. Apple also expected 0:03:17.400 --> 0:03:19.880 to announce a share buyback program of as much as 0:03:19.960 --> 0:03:23.280 ninety billion dollars. As for Amazon, investors will see if 0:03:23.280 --> 0:03:26.280 it's Amazon Web Services, the cloud computing unit will offset 0:03:26.320 --> 0:03:29.239 and expected slow down and online sales now that many 0:03:29.320 --> 0:03:32.720 pandemic restrictions have been lifted. Forecast call for earnings per 0:03:32.720 --> 0:03:34.800 share of eight fifty five on revenues of more than 0:03:34.840 --> 0:03:39.160 a hundred sixteen billion. I'm Tom Busby Bloomberg Daybreak. All right, Tom, 0:03:39.200 --> 0:03:40.720 thank you. Well. It's also a big day on the 0:03:40.760 --> 0:03:43.320 economic front. We get a closely watched rating on first 0:03:43.360 --> 0:03:46.320 quarter GDP this morning, and the forecast is for a 0:03:46.440 --> 0:03:50.400 one percent gain. Plumberg's Michael McKee has the details. COVID 0:03:50.480 --> 0:03:53.360 and Russia's war slowed growth dramatically in the first three 0:03:53.360 --> 0:03:57.000 months of the year. Some analysts even think the economy contracted, 0:03:57.200 --> 0:04:01.120 but additional GDP figure will mask some true strength. Consumer 0:04:01.200 --> 0:04:04.480 spending is forecast to be strong, and business investment appears 0:04:04.520 --> 0:04:07.040 to be holding up. Real estate was a strong point 0:04:07.120 --> 0:04:10.240 during the quarter. The impact on growth is likely largely 0:04:10.280 --> 0:04:13.000 to have come from a slower pace of inventory building 0:04:13.000 --> 0:04:16.920 as companies finally restocked. Higher oil prices play a role 0:04:16.960 --> 0:04:20.520 as well. Michael McKee, Bloomberg Daybreak, all right, Mike, thanks. 0:04:20.640 --> 0:04:23.680 Higher inflation is taking a toll on the personal finances 0:04:23.760 --> 0:04:26.640 of many Americans, and it is also hitting their outlook. 0:04:26.839 --> 0:04:29.120 Let's get more on that Live from Bloomberg's or need 0:04:29.120 --> 0:04:31.520 a Young Good Morning Grenada, Good morning Nathan. A gallop 0:04:31.560 --> 0:04:34.799 Pole shows less than half of Americans rate their financial 0:04:34.839 --> 0:04:38.720 situation as good or excellent, and some forty eight percent 0:04:38.839 --> 0:04:42.039 say it's getting worse. That's similar to levels seen a 0:04:42.120 --> 0:04:45.279 month into the pandemic and during the financial crisis of 0:04:45.279 --> 0:04:48.480 two thousand eight. So what's driving the worry? The survey 0:04:48.520 --> 0:04:51.279 finds that a record thirty two percent of Americans rank 0:04:51.400 --> 0:04:53.960 inflation and a high cost of living as the most 0:04:54.000 --> 0:04:58.280 important financial problem facing their family today. Live in New York, 0:04:58.320 --> 0:05:00.520 I'm gonned a young Bloomberg Day pre all right, we 0:05:00.560 --> 0:05:02.320 need to thank you, and we turned to some moves 0:05:02.360 --> 0:05:04.880 in Asia. Now overnight, the Japanese yea and hit a 0:05:04.880 --> 0:05:07.560 two decade low against the dollar. The move comes after 0:05:07.600 --> 0:05:10.440 the back in Japan doubled down on bond purchases. The 0:05:10.480 --> 0:05:12.880 central banks said it would buy an unlimited amount of 0:05:12.880 --> 0:05:16.120 bonds at fixed rates every business day. Checking the in 0:05:16.320 --> 0:05:19.520 right now is at one thirty point five four against 0:05:19.520 --> 0:05:21.200 the dollar. All right, then, let's take a look at 0:05:21.200 --> 0:05:23.800 the latest on the war in Ukraine. Karen. President Biden 0:05:23.800 --> 0:05:27.440 plans to deliver remarks later today on support for Ukraini 0:05:27.440 --> 0:05:31.039 as his administration looks to send Congress a proposal for weapons. 0:05:31.279 --> 0:05:34.279 Bloomberg Z Baxter has the story. The White House says 0:05:34.360 --> 0:05:36.320 it could go to the Hill as early as today. 0:05:36.520 --> 0:05:39.599 Spokeswoman Jen Psaki says they're still working on the final ask. 0:05:39.680 --> 0:05:41.520 Don't have a number for you at this point in time, 0:05:41.760 --> 0:05:44.360 but there is plans for this to be a proposal 0:05:44.440 --> 0:05:47.760 to go through the fiscal year, and it will include 0:05:48.160 --> 0:05:53.160 um as our pass packages have included security or military assistance, 0:05:53.480 --> 0:05:57.559 humanitarian economic assistance, which seems to suggest a large number. 0:05:57.680 --> 0:06:00.200 The President has promised delivery by the end of the week. 0:06:00.640 --> 0:06:03.560 In San Francisco, I'm at Baxter Bloomberg Gay Break right 0:06:03.600 --> 0:06:06.320 and thank you. Meantime, in Europe, several countries are looking 0:06:06.320 --> 0:06:08.799 for clearer god ins from the EU on Russia's demand 0:06:08.839 --> 0:06:11.480 to pay for gas in rubles. Russia cut off the 0:06:11.520 --> 0:06:14.480 taps to Poland in Bulgaria yesterday for refusing to pay 0:06:14.520 --> 0:06:18.279 in the currency. Now, the Financial Times reports several European nations, 0:06:18.320 --> 0:06:22.000 including Germany, are preparing to open ruble accounts to meet 0:06:22.080 --> 0:06:25.919 Vladimir Putin's demands. This all adds to a volatile energy market. 0:06:25.960 --> 0:06:28.840 According to Patrick de Han had a petroleum analysis a 0:06:28.920 --> 0:06:31.560 gas buddy, There's a lot then said about Russia and 0:06:31.680 --> 0:06:36.560 Ukraine and now Russia today escalating the situation by UH 0:06:36.640 --> 0:06:39.919 stifling the flow of natural gas to Poland and Bulgaria. 0:06:40.480 --> 0:06:44.960 And of course we have a global economy that's been rebounding. 0:06:45.200 --> 0:06:47.679 Patrick de Haan with gas Buddies, spoke with our Washington 0:06:47.680 --> 0:06:50.960 corresponded Joe Matthew on Bloomberg sound on Catch the show 0:06:51.000 --> 0:06:54.480 weekdays at five pm Eastern on Bloomberg Radio. And looking 0:06:54.520 --> 0:06:57.320 ahead to the market open, Karen, we have futures moving higher, 0:06:57.320 --> 0:07:00.200 with SMP futures up sixty five point staff future years 0:07:00.279 --> 0:07:03.320 up three hundred sixteen. Nastac futures higher by two hundred 0:07:03.400 --> 0:07:06.640 eighty points or two point two percent. The tenure Treasury 0:07:06.680 --> 0:07:09.000 is up three thirty seconds yield two point one percent 0:07:09.120 --> 0:07:11.360 yield on the two year two point five seven and 0:07:11.480 --> 0:07:13.680 nime X crues hired by two tenths percent at a 0:07:13.720 --> 0:07:17.080 hundred two dollars twenty three cents of barrel. Local headlines 0:07:17.120 --> 0:07:24.280 and sports. Next, this is Bloomberg Sounds six o seven 0:07:24.280 --> 0:07:26.400 on Wall Street. We're forty degrees in Central Park and 0:07:26.400 --> 0:07:28.880 we've got an accident in Brooklyn and eastbound Gowanas at 0:07:28.880 --> 0:07:31.880 Hamilton Avenue. Details coming up in traffic. First, Michael Barr 0:07:32.280 --> 0:07:33.960 with more on what's going on in New York and 0:07:34.040 --> 0:07:36.240 around the world. Michael, thank you very much. Nathan, New 0:07:36.320 --> 0:07:39.560 York's MTA plans to ramp up its number of electric buses, 0:07:39.960 --> 0:07:43.680 part of the agency's goal for zero emissions by forty 0:07:44.000 --> 0:07:47.000 For the nation's largest bus fleet, The m t A 0:07:47.000 --> 0:07:50.800 anticipate sixty new electric buses will start arriving later this year, 0:07:51.160 --> 0:07:54.760 with another four hundred seventy coming in three to four years. 0:07:55.160 --> 0:07:58.080 It will transition it's fifty eight hundred bus fleet to 0:07:58.240 --> 0:08:02.320 all electric vehicles. Dr Anthony Fauci is clarifying comments he 0:08:02.400 --> 0:08:06.000 made suggesting that the COVID nineteen pandemic is over in 0:08:06.040 --> 0:08:09.920 the US. Fauci said this initially on the PBS News Hour. 0:08:10.280 --> 0:08:13.400 We are certainly right now in this country out of 0:08:13.440 --> 0:08:17.920 the pandemic faith. But now Dr Fauci says the pandemic 0:08:18.000 --> 0:08:20.920 in the US isn't over, but is in a more 0:08:21.000 --> 0:08:25.720 controlled stage. Connecticut Governor net Lamotts and his fellow Democrats 0:08:25.720 --> 0:08:28.560 and the General Assembly say they've reached a broad agreement 0:08:28.560 --> 0:08:32.080 on a revised one year state budget proposal. It includes 0:08:32.120 --> 0:08:35.680 nearly five hundred million dollars in tax reductions. The list 0:08:35.720 --> 0:08:39.319 of proposed tax changes would also continue the twenty five 0:08:39.440 --> 0:08:43.760 cent per gallon gas tax cut until December one. The 0:08:43.800 --> 0:08:47.160 parents of American Trevor Reid said they dared not build 0:08:47.240 --> 0:08:49.640 up their hopes when they first heard their son might 0:08:49.679 --> 0:08:52.160 be freed from Russia after being held for three years. 0:08:52.559 --> 0:08:55.240 Yesterday they got the call they've been waiting for. The 0:08:55.320 --> 0:08:59.000 former marine was swapped for a Russian prisoner being held 0:08:59.200 --> 0:09:02.160 by the US. They expect read come home in a 0:09:02.200 --> 0:09:05.760 few days. Key negotiator and former US Ambassador to the 0:09:05.840 --> 0:09:09.280 United Nations Bill Richardson says that he has worked with 0:09:09.320 --> 0:09:13.760 two different administrations since twenty nineteen to secure Read's release. 0:09:14.200 --> 0:09:18.800 These exchanges take a long time. During the Trump administration, 0:09:18.840 --> 0:09:21.840 it didn't work, and the relationship between President Trump and 0:09:21.840 --> 0:09:24.520 the Russians was better than it is now, but it 0:09:24.559 --> 0:09:29.800 didn't work, So it depends on timing. Luck. Richardson, also 0:09:29.960 --> 0:09:33.240 the former governor of New Mexico, says other Americans are 0:09:33.280 --> 0:09:35.679 still being held in Russia, including w n B A 0:09:35.800 --> 0:09:39.760 Star Brittney Griner and another former Marine, Paul Wheeland. The 0:09:39.880 --> 0:09:45.120 crew of astronauts survived at the International Space Station and 0:09:45.240 --> 0:09:48.520 Dragon hatches open and they are welcoming the crew for 0:09:48.640 --> 0:09:52.160 astronauts on board. The NASA crew blasted off from Florida 0:09:52.240 --> 0:09:55.040 yesterday morning. Global News twenty four hours a day on 0:09:55.120 --> 0:09:57.920 air and on Bloomberg quick Take, powered by more than 0:09:58.960 --> 0:10:01.959 journalist and analyst and will and twenty countries. I'm Michael Barr. 0:10:02.040 --> 0:10:09.559 This is Bloomberg Naked, all right, Michael. Thanks almost six 0:10:09.600 --> 0:10:11.880 ten on Wall Street. Time for the Bloomberg Sports Update 0:10:11.880 --> 0:10:14.960 with John Sasha may Than. Couple of Yankee sluggers perhaps 0:10:15.040 --> 0:10:17.520 heating up. Yankees are heated up. They've won the fifth 0:10:17.559 --> 0:10:19.960 in a row, five two of Baltimore the stadium. Joey 0:10:20.000 --> 0:10:22.559 Gallow no home runs in those first fourteen games, but 0:10:22.640 --> 0:10:25.120 now two and two nights, and John Carlos Stanton with 0:10:25.160 --> 0:10:27.600 his first home runs since the second game of the season. 0:10:27.640 --> 0:10:30.280 He gets the three hundred and fifty career home runs. 0:10:30.520 --> 0:10:33.560 Only six players have gotten there faster. Yanks go for 0:10:33.600 --> 0:10:36.160 the sweep, the staffterdo and the Mets failed to get 0:10:36.160 --> 0:10:38.160 to sweep. In St. Louis had a four one league, 0:10:38.160 --> 0:10:40.560 but the Cardinals erupted in one, ten to five, and 0:10:40.640 --> 0:10:44.400 Nolan Arronado erupted in the eighth inning. Did not appreciate 0:10:44.480 --> 0:10:47.960 Joan Lopez's up and end pitched the bench is emptied 0:10:48.320 --> 0:10:55.240 the Cardinals manager Carlos Marmol And you come up top 0:10:55.360 --> 0:11:00.320 like that and and jeopardize someone's career in life. Yeah, 0:11:00.360 --> 0:11:03.160 I'll take exception for that. And uh, I don't think 0:11:03.160 --> 0:11:06.400 anyone in the big leagues appreciates getting thrown up top. 0:11:07.360 --> 0:11:10.480 No one has every right to react the way he did. 0:11:10.600 --> 0:11:14.000 Then go after him. We'll protect them and Mets. J. D. 0:11:14.160 --> 0:11:15.719 Davis got hit with a pitch on the top of 0:11:15.760 --> 0:11:17.480 the eighth It was the fifth time in the series, 0:11:17.520 --> 0:11:20.320 but it met got hit the nineteenth time this season, 0:11:20.400 --> 0:11:22.040 no other team has been hit by pick more than 0:11:22.080 --> 0:11:25.079 eleven times. Rangers at the Garden lost to Montreal four 0:11:25.160 --> 0:11:27.679 to three close out the regular season tomorrow with Washington. 0:11:27.760 --> 0:11:30.559 That outcome could affect whether it then play the Caps 0:11:30.600 --> 0:11:32.920 in the first round, but if Pittsburgh beats Columbus tomorrow, 0:11:32.920 --> 0:11:36.000 the Rangers that face the Penguins. Milwaukee will face Boston 0:11:36.000 --> 0:11:38.640 in the NBA second round. The Bucks finished off Chicago. 0:11:38.920 --> 0:11:41.560 Golden State closed out of series with Denver. NFL draft 0:11:41.640 --> 0:11:44.880 starts tonight in Las Vegas. Like last year, Jacksonville has 0:11:44.880 --> 0:11:47.680 the first pick, The Jets have the fourth and tenth picks. 0:11:47.960 --> 0:11:50.520 The Giants have the fifth and second. John Statue or 0:11:50.559 --> 0:11:53.880 Boom Girp sports all right, John thanks, SMP futures up 0:11:53.920 --> 0:11:56.680 sixty three point, Staff futures up three under eight, Nanastack 0:11:56.760 --> 0:11:59.080 futures leading the way with a two point one percent 0:11:59.200 --> 0:12:03.480 gain up two hundred seventy five points. This is Bloomberg 0:12:07.320 --> 0:12:09.719 Bloomberg eleven three oh weather varying amounts of clouds and 0:12:09.760 --> 0:12:12.000 sun breezy today with a hind, your fifty five degrees 0:12:12.000 --> 0:12:15.520 could hit sixty with sunshine and a breeze. Tomorrow Saturday, 0:12:15.559 --> 0:12:22.240 mostly sunny, low sixties to start the weekend. Currently forty degrees. Markets, 0:12:22.320 --> 0:12:25.400 headlines and breaking news twenty four hours a day at 0:12:25.400 --> 0:12:28.840 Bloomberg dot Com of Bloomberg Business Out and at Bloomberg 0:12:28.880 --> 0:12:38.240 Quick Take. This is a Bloomberg Business Flash and I'm 0:12:38.280 --> 0:12:40.920 Karen Moscow. This updates ronty you by b n Y 0:12:41.000 --> 0:12:44.439 Mellen's perishing learned by the world's most sophisticated wealth management 0:12:44.480 --> 0:12:48.880 and institutional firms rely on Pershing to help them improve profitability, 0:12:48.960 --> 0:12:53.559 create efficiency, attract talent and manage risk at Pershing dot com. 0:12:53.600 --> 0:12:57.160 European stocks rallying along with US stock Indise futures after 0:12:57.240 --> 0:12:59.679 upbeat earnings out of the bull cage for the economy 0:12:59.760 --> 0:13:02.719 and markets to spelling growth. Fears for now shares, a 0:13:02.800 --> 0:13:05.680 Facebook's parent are giving nasdat futures a lift and we 0:13:05.760 --> 0:13:08.280 check the markets every fifteen minutes throughout the trading day. 0:13:08.320 --> 0:13:11.000 On Bloomberg s and p Future is a fifty nine 0:13:11.040 --> 0:13:14.640 points STAF futures have two hundred seventy nowsday futures up 0:13:14.679 --> 0:13:17.760 two hundred fifty four. That's up about two percent. The 0:13:17.840 --> 0:13:20.160 decks in Germany is of one and a half percent. 0:13:20.240 --> 0:13:22.760 Ten year Treasury of Thought thirty seconds held two point 0:13:22.760 --> 0:13:25.439 eight one percent yield on the two year two point 0:13:25.440 --> 0:13:28.880 five seven percent. NIMEX screwed oil is is up four 0:13:28.920 --> 0:13:31.080 tens percent of forty three cents at a hundred two 0:13:31.080 --> 0:13:34.120 dollars forty five cents in barrel. Comex school. That'll change 0:13:34.120 --> 0:13:37.880 at twenty announced. The euro one point oh five one 0:13:38.000 --> 0:13:40.480 three against the dollar, British found one point to five 0:13:40.520 --> 0:13:43.440 o two, the en one thirty point three four, and 0:13:43.520 --> 0:13:46.800 bitcoin is higher, up one point four percent. It's at 0:13:46.840 --> 0:13:50.040 thirty nine thousand, six hundred fifty dollars. That's a Bloomberg 0:13:50.040 --> 0:13:52.480 business flash. Now here's Michael Barr with more un must 0:13:52.520 --> 0:13:55.640 going on around the world. Michael Karen, thank you very much. 0:13:55.679 --> 0:13:59.360 President Joe Biden plans to deliver remarks today on support 0:13:59.400 --> 0:14:03.320 for Ukraine and his administration looks too soon send Congress 0:14:03.440 --> 0:14:07.720 proposal for weapons and humanitarian assistance for Kiev that would 0:14:07.880 --> 0:14:11.720 last through September. Dr Anthony Vuci is clarifying comments he 0:14:11.800 --> 0:14:15.440 made suggesting that the COVID nineteen pandemic is over in 0:14:15.480 --> 0:14:18.680 the US. Vaunci now says the pandemic is not over, 0:14:18.720 --> 0:14:21.920 but in a different phase. Round one of the NFL 0:14:22.000 --> 0:14:25.800 Draft begins tonight. The Jaguars have the overall number one pick, 0:14:26.040 --> 0:14:28.320 The Jets have the fourth and tenth pick, the Giant 0:14:28.320 --> 0:14:32.320 select fifth and seventh. In the NBA playoffs, the Warriors 0:14:32.360 --> 0:14:34.680 advanced to the next round after beating the Nuggets in 0:14:34.680 --> 0:14:38.760 Game five one. In baseball, the Yankees beat the Orioles 0:14:38.840 --> 0:14:42.000 five to the Mets and Nationals lost. The Red Sox 0:14:42.080 --> 0:14:44.800 won the A shut out the Giants one zip. In 0:14:44.840 --> 0:14:48.120 the NHL, the Rangers lost. Global News twenty four hours 0:14:48.120 --> 0:14:51.040 a day on air and on Bloomberg Quicktake, powered by 0:14:51.040 --> 0:14:53.720 more than twenty seven hundredtournalist and analysts more than a 0:14:53.920 --> 0:14:57.400 d twenty countries. Michael Barr and this is Bloomberg him, Michael. 0:14:57.440 --> 0:14:59.680 Thanks almost six twenty on Wall Street Live from the 0:14:59.680 --> 0:15:03.760 bloo Burg Interactive Broker Studios. This is Bloomberg Daybreak on 0:15:03.800 --> 0:15:05.800 a day we are waiting for a bit of a 0:15:05.920 --> 0:15:09.680 data dump when it comes to this economy, including first 0:15:09.720 --> 0:15:12.880 reading on first quarter g d P, A big round 0:15:12.880 --> 0:15:15.720 of data for the Federal Reserve to consider as it 0:15:15.760 --> 0:15:18.520 will most likely gets ready to raise interest rates next week. 0:15:18.600 --> 0:15:21.480 Let's bring in Bloomberg Economics correspondent Michael McKee for more 0:15:21.480 --> 0:15:24.720 on what we're expecting today, Mike, good morning. Looking at 0:15:25.080 --> 0:15:31.120 the GDP expectation from Bloomberg Economist survey one percent after 0:15:31.200 --> 0:15:34.320 six point nine in the prior quarter. What could that deceleration, 0:15:34.360 --> 0:15:37.800 if it turns out mean for the Fed. Uh. You 0:15:37.880 --> 0:15:40.640 have gonna have to look below that number to really 0:15:40.640 --> 0:15:43.080 get an answer, Nathan. And the interesting thing is the 0:15:43.120 --> 0:15:46.760 Bloomberg survey is very broad, UH, and a lot of 0:15:46.760 --> 0:15:51.680 people put in their survey results and forecasts early and 0:15:51.720 --> 0:15:55.720 then don't change them. We had a string of Wall 0:15:55.760 --> 0:15:59.120 Street firms changing their forecast yesterday, including a number who 0:15:59.120 --> 0:16:03.120 think that we might see an actual contraction. So if 0:16:03.120 --> 0:16:07.640 Wall Street is prepared to be shocked, that is a possibility. 0:16:07.680 --> 0:16:10.720 But it hides the fact that the reason for the 0:16:11.120 --> 0:16:16.240 bad economic performance is basically, UH, inventories and trade. A 0:16:16.320 --> 0:16:18.760 lot of people ordered a lot of stuff last fall, 0:16:18.800 --> 0:16:20.760 you remember, and it was all sitting on boats off 0:16:20.800 --> 0:16:23.840 the coast of California, and they finally are able to 0:16:23.920 --> 0:16:26.920 unload it in the first quarter in January and February, 0:16:26.920 --> 0:16:29.480 and then it starts to count as imports. So imports 0:16:29.480 --> 0:16:32.120 went way up and we had a very wide trade 0:16:32.200 --> 0:16:35.960 deficit and then a lot of those goods going to inventories, 0:16:36.240 --> 0:16:40.520 and uh so maybe then companies cut back on production 0:16:40.560 --> 0:16:43.040 because they were getting inventories from overseas. Those two things 0:16:43.080 --> 0:16:48.080 really will influence it. Personal spending consumers apparently did quite well. 0:16:48.200 --> 0:16:51.120 The anticipation, according to Bloomberg survey is for three and 0:16:51.160 --> 0:16:53.480 a half percent game and so the FED would take 0:16:53.520 --> 0:16:57.200 reassurance from that that varius is the question though, I 0:16:57.240 --> 0:17:00.120 guess the raises a couple of questions, whether that of 0:17:00.200 --> 0:17:03.280 personal spending can continue when we have these kind of 0:17:03.280 --> 0:17:09.119 inflationary pressures, and whether the trade gap is starting to 0:17:09.160 --> 0:17:12.800 show signs of unwinding in terms of the supply chain. 0:17:12.840 --> 0:17:15.720 Bottle next you've been dealing with, Well, it did show 0:17:15.840 --> 0:17:19.080 signs of unwinding until China began to lock down everything. 0:17:19.080 --> 0:17:21.600 And now if you look, if you have a Bloomberg 0:17:21.640 --> 0:17:23.159 and you look on the terminal, you can see the 0:17:23.680 --> 0:17:27.280 charts that show thousands and thousands of ships just sitting 0:17:27.320 --> 0:17:30.880 off the coast of China. Presumably those will ultimately be 0:17:30.960 --> 0:17:33.439 loaded up and sent back over here and we'll have 0:17:33.480 --> 0:17:37.639 the same problem again. So that's in the future. Uh 0:17:37.680 --> 0:17:40.880 The question is do people, as you say, keep spending 0:17:40.920 --> 0:17:43.639 in so far, indications are that they have slowed a 0:17:43.720 --> 0:17:47.960 little bit and sort of changed what they're buying from 0:17:48.000 --> 0:17:52.080 a lot of discretionary goods to more services. Certainly everybody's 0:17:52.119 --> 0:17:53.919 going on vacation and traveling if you've been in an 0:17:53.920 --> 0:17:58.119 airport lately. But does that continue? That's one of the 0:17:58.160 --> 0:18:00.679 key questions to the Fed. They need some strengthen the 0:18:00.680 --> 0:18:03.520 economy if they're gonna start raising interest rates to keep 0:18:03.640 --> 0:18:06.919 unemployment from rising. Yeah, and I guess that also raises 0:18:06.960 --> 0:18:11.440 the question about how much this UH, this reading potentially 0:18:11.480 --> 0:18:14.080 affects the Fed's outlook when it comes to front loading 0:18:14.160 --> 0:18:17.440 rate hikes. I mean, the the markets priced in four 0:18:17.640 --> 0:18:21.359 fifty basis point moves, and the markets maybe a little 0:18:21.400 --> 0:18:23.919 ahead of themselves here with that, the FT isn't going 0:18:24.000 --> 0:18:26.920 to be looking at doing that because they're not gonna 0:18:26.920 --> 0:18:28.479 be looking at that far down the road. Yet they 0:18:28.520 --> 0:18:31.240 want to see, as you say, the data. We also 0:18:31.280 --> 0:18:33.919 get jobless claims today, which are forecast to come in 0:18:33.960 --> 0:18:38.840 at a very very low level again UH in about 0:18:38.880 --> 0:18:42.800 the one eight range. And because of that, the FET 0:18:42.960 --> 0:18:45.520 is likely to take some comfort in the fact that 0:18:45.560 --> 0:18:50.120 the economy is a bit stronger than it has been 0:18:50.119 --> 0:18:52.400 going into a FED tightening cycle in a long time, 0:18:52.440 --> 0:18:55.800 and so therefore they can raise rates at least fifty 0:18:55.840 --> 0:18:58.399 basis points this time, and maybe in June, and then 0:18:58.440 --> 0:19:02.000 they'll stop and see where they are, all right, Michael McKee, 0:19:02.040 --> 0:19:04.960 Bloomberg Economics correspondent, Gonna be very busy in just a 0:19:04.960 --> 0:19:08.120 couple hours here when we get that first quarter GDP 0:19:08.320 --> 0:19:11.320 read at eight thirty Wall Street time, along with the 0:19:11.320 --> 0:19:16.040 initial jobless claims core PCE lots to wade through this 0:19:16.160 --> 0:19:20.600 morning as we get ready for that May interest rate 0:19:20.680 --> 0:19:25.159 setting meeting coming up just next week, FED with a 0:19:25.200 --> 0:19:28.920 big decision to make in the days to come. Here 0:19:29.800 --> 0:19:32.720 right now, looking ahead to the market, open futures are 0:19:32.800 --> 0:19:35.720 higher by sixty points for US and P futures. We 0:19:35.720 --> 0:19:38.320 have Dow futures up two hundred seventy seven points, NASDAC 0:19:38.359 --> 0:19:41.280 futures higher by two hundred sixty points, a gain of 0:19:41.320 --> 0:19:44.320 two percent on the dot ten. Your treasury is up 0:19:44.359 --> 0:19:46.920 six thirty seconds, the yield two point zero percent, the 0:19:46.960 --> 0:19:50.399 yield on the two year two point five six. Just ahead, 0:19:50.480 --> 0:19:55.600 investors like meta earnings and inflation starts to hit the 0:19:55.760 --> 0:19:59.320 household outlook. Five things you need to know to start 0:19:59.359 --> 0:20:07.920 your day Wing up, You're listening to Bloomberg Daybreak Bloomberg 0:20:07.920 --> 0:20:10.680 eleven three oh weather mix of sun and cloud's breezy 0:20:10.800 --> 0:20:13.600 mid fifties for highest today, could at sixty tomorrow with 0:20:13.640 --> 0:20:17.640 a sunshine and a breeze mostly sunny, low sixties for Saturday. 0:20:17.720 --> 0:20:23.520 Right now forty in Central Park. Broadcasting live from the 0:20:23.640 --> 0:20:27.600 Bloomberg Interactive Broker Studio in New York. Bloomberg E Living 0:20:27.680 --> 0:20:30.600 free on to Washington, d C, Bloomberg ninety nine one 0:20:30.760 --> 0:20:33.960 to Boston, Bloomberg one O six one to San Francisco, 0:20:34.040 --> 0:20:37.479 Bloomberg nine sixty to the Country, Sirius XM Chado one 0:20:37.560 --> 0:20:40.480 nine team, and around the globe the Bloomberg Business apt 0:20:40.640 --> 0:20:50.280 and Bloomberg Radio dot Com. This is Bloomberg Daybreak six 0:20:50.359 --> 0:20:52.760 thirty on Wall Street. Good morning. I'm Nathan Hagar and 0:20:52.800 --> 0:20:55.840 I'm Karen Moscow. Were just about three hours away from 0:20:55.840 --> 0:20:58.240 the open of US trading time for the five things 0:20:58.280 --> 0:21:00.720 you need to notice start your day to you by 0:21:00.840 --> 0:21:04.280 Interactive Brokers Simple I v K are Global Trader app, 0:21:04.560 --> 0:21:07.480 deposit in your local currency and trade stocks in the US, 0:21:07.560 --> 0:21:10.920 Europe and Asia. Start your free trial at ibkr dot com, 0:21:10.920 --> 0:21:15.159 slash Global trader first Meta shares that more than sixteen percent. 0:21:15.240 --> 0:21:18.640 This morning, mass after earning showed Facebook adding more users 0:21:18.640 --> 0:21:23.120 than projected. Man Deep Singh, a senior technology analystic Bloomberg Intelligence. 0:21:23.320 --> 0:21:27.120 He says the overall report is strong despite missing revenue estimates. 0:21:27.600 --> 0:21:29.960 Last time, they give us a surprise that they're spending 0:21:29.960 --> 0:21:33.480 an additional you know, twenty billion dollars on this reality lapse. 0:21:33.480 --> 0:21:35.800 That's the first time we learned about those numbers. This 0:21:35.840 --> 0:21:38.320 time around, there saying they don't plan to increase it, 0:21:38.680 --> 0:21:41.000 but they plan to pair back a little bit. And 0:21:41.080 --> 0:21:44.639 the core Facebook and Instagram engagement seems to be holding 0:21:44.720 --> 0:21:48.000 up quite well. Bloomberg Intelligence analyst man Deep sing says 0:21:48.040 --> 0:21:50.960 Facebook added more than thirty million new users and the 0:21:51.080 --> 0:21:54.320 quarter and big tech earnings will continue today. Amazon and 0:21:54.359 --> 0:21:57.360 Apple report after the bell. Turning to the economy care 0:21:57.359 --> 0:21:59.679 and we get a reading on growth today. Us GDP 0:21:59.840 --> 0:22:02.000 is expected the show a one percent gain when the 0:22:02.040 --> 0:22:05.439 figures come out this morning. Well, Nathan, according to new finding, 0:22:05.680 --> 0:22:09.879 entire inflation is affecting many Americans. Financial Outlook and Bloomberg's 0:22:09.920 --> 0:22:12.000 raned a young joint US Live. But the latest good 0:22:12.000 --> 0:22:14.520 Morning Rady to Good Morning, Karen A gallop poles So 0:22:14.800 --> 0:22:18.120 shows less than half of Americans rate their financial situation 0:22:18.160 --> 0:22:21.400 as good or excellent, and some forty eight percent say 0:22:21.440 --> 0:22:24.880