1 00:00:03,040 --> 00:00:05,680 Speaker 1: My from the Bloomberg and Directed Brooker Studios. This is 2 00:00:05,760 --> 00:00:09,680 Speaker 1: Bloomberg Daybreak for a Tuesday, August sixteen two coming up. 3 00:00:09,720 --> 00:00:13,480 Speaker 1: The shower stocks begin the day at three month highs apples. 4 00:00:13,520 --> 00:00:16,200 Speaker 1: That's another date for workers to return to the office. 5 00:00:16,200 --> 00:00:19,720 Speaker 1: It's primary day with key racist involving Liz Channion Wyoming 6 00:00:19,760 --> 00:00:22,119 Speaker 1: and Sarah Palin in Alaska. And the d o J 7 00:00:22,239 --> 00:00:24,880 Speaker 1: opposes the release of an affidavit in the search of 8 00:00:24,920 --> 00:00:28,440 Speaker 1: Donald Trump's home. Stabbing issues cause headaches at New York 9 00:00:28,440 --> 00:00:32,040 Speaker 1: City airports. Plus former Trump attorney Rudy Giuliani is the 10 00:00:32,080 --> 00:00:35,800 Speaker 1: target of a criminal pro on Michael barn More, I'm 11 00:00:35,840 --> 00:00:38,320 Speaker 1: trying statshout at sports Rock Night for New York baseball. 12 00:00:38,360 --> 00:00:40,479 Speaker 1: The Yankees were shut out again. The Mets lost in 13 00:00:40,520 --> 00:00:45,800 Speaker 1: Atlanta thirteen to one. That's all s. Trady ahead on 14 00:00:45,920 --> 00:00:49,280 Speaker 1: Bloomberg day Break on Bloomberg eleven three on New York, 15 00:00:49,479 --> 00:00:54,120 Speaker 1: Bloomberg one, Washington, d C. Bloomberg one oh six one, Boston, 16 00:00:54,440 --> 00:00:59,160 Speaker 1: Bloomberg nine sixty, San Francisco, Syrius Exam one nineteen and 17 00:00:59,240 --> 00:01:02,319 Speaker 1: around the world down Bloomberg Radio dot Com and via 18 00:01:02,400 --> 00:01:09,160 Speaker 1: the Bloomberg Business app. Good morning, I'm John Tucker and 19 00:01:09,200 --> 00:01:12,399 Speaker 1: I'm Karen Moscow and US dock index futures are lower 20 00:01:12,480 --> 00:01:14,399 Speaker 1: this morning. We're coming up to six oh one on 21 00:01:14,440 --> 00:01:16,640 Speaker 1: Wall Street, and we check the markets every fifteen minutes 22 00:01:16,640 --> 00:01:19,440 Speaker 1: throughout the trading day. On bloomberg S and P Future 23 00:01:19,480 --> 00:01:22,119 Speaker 1: is down about eight points down. Future is down thirty 24 00:01:22,120 --> 00:01:25,000 Speaker 1: four and NASDACK futures down twenty eight. The decks in 25 00:01:25,040 --> 00:01:27,759 Speaker 1: Germany is up six tenths of a percent. Penn your 26 00:01:27,800 --> 00:01:30,200 Speaker 1: treasury down three thirty seconds. You have two point eight 27 00:01:30,319 --> 00:01:32,720 Speaker 1: zero percent. They yield on the two year three point 28 00:01:32,760 --> 00:01:35,840 Speaker 1: two zero percent. Night Max Screwed oil is down about 29 00:01:35,840 --> 00:01:38,279 Speaker 1: half percent, or forty seven cents at eighty eight dollars 30 00:01:38,840 --> 00:01:41,440 Speaker 1: cents a barrel call. Make School down four ten percent 31 00:01:41,520 --> 00:01:44,680 Speaker 1: or seven dollars twenty cents at seventeen ninety ninety announced 32 00:01:45,000 --> 00:01:47,640 Speaker 1: and Bitcoin and this morning is that will change at 33 00:01:47,640 --> 00:01:50,760 Speaker 1: twenty four thousand, eighty dollars. John and Karen, we begin 34 00:01:50,840 --> 00:01:53,520 Speaker 1: today's session with US docks at a three month high. 35 00:01:54,000 --> 00:01:57,600 Speaker 1: The s game for four straight weeks. It's the longest 36 00:01:57,680 --> 00:02:01,000 Speaker 1: winning streak this year. Hex Smith is two investment officer 37 00:02:01,280 --> 00:02:04,920 Speaker 1: at Haverford Trust. Now I think it's anticipating that we 38 00:02:05,000 --> 00:02:10,280 Speaker 1: are beyond peak inflation um and that a lot of factors, 39 00:02:10,639 --> 00:02:15,840 Speaker 1: including the federal reserves policy, is starting to unwind inflation 40 00:02:16,440 --> 00:02:21,359 Speaker 1: and and perhaps perhaps the said might get lucky and 41 00:02:21,560 --> 00:02:25,240 Speaker 1: engineer is somewhat soft landing for a trust. Hank Smith 42 00:02:25,320 --> 00:02:27,799 Speaker 1: says the next batch of retail earnings could be key 43 00:02:27,960 --> 00:02:30,840 Speaker 1: for the markets, and John, we start to hear from 44 00:02:30,919 --> 00:02:34,160 Speaker 1: some of those retailers today right now this morning, home 45 00:02:34,240 --> 00:02:38,600 Speaker 1: Depot reporting second quarter comparable sales that beat analysts estimates. 46 00:02:38,680 --> 00:02:41,880 Speaker 1: Those earnings are just crossing the Bloomberg Walmart reports in 47 00:02:41,960 --> 00:02:43,600 Speaker 1: less than an hour from now, and we get a 48 00:02:43,680 --> 00:02:47,359 Speaker 1: preview from Bloomberg's Jeff Bellinger. The giant retailer issued a 49 00:02:47,400 --> 00:02:49,720 Speaker 1: business update less than a month ago in which it 50 00:02:49,840 --> 00:02:53,920 Speaker 1: lowered its profit outlook, so Bloomberg Intelligence says today's really 51 00:02:54,040 --> 00:02:58,320 Speaker 1: should hold few surprises. Inflation has been a significant headwind 52 00:02:58,440 --> 00:03:01,560 Speaker 1: for Walmart, causing customer mers to spend more on food 53 00:03:01,680 --> 00:03:05,440 Speaker 1: and less on discretionary items. The I says a sales 54 00:03:05,520 --> 00:03:08,320 Speaker 1: event in June may have helped to reduce some inventory, 55 00:03:08,760 --> 00:03:12,160 Speaker 1: but Walmart will likely need further markdowns to move over 56 00:03:12,280 --> 00:03:15,920 Speaker 1: stocks of clothing. Jeff Bullinger bloom Bird day Break. All right, 57 00:03:15,960 --> 00:03:18,200 Speaker 1: thanks Jeff on Wall Street. We're learning what some of 58 00:03:18,240 --> 00:03:21,720 Speaker 1: the world's biggest money managers are doing with their stock portfolios. 59 00:03:22,160 --> 00:03:24,960 Speaker 1: Let's get the latest live from Bloomberg's Nita Young. Good 60 00:03:25,000 --> 00:03:28,120 Speaker 1: morning Nita, Good morning John. During the latest quarter, Stanley 61 00:03:28,200 --> 00:03:32,520 Speaker 1: Drucon Miller's family office offloaded Big Tech, selling its entire 62 00:03:32,600 --> 00:03:36,920 Speaker 1: one million dollar position in Amazon and scaling back as 63 00:03:36,920 --> 00:03:40,840 Speaker 1: steak in Microsoft. Sorel's fund Management boosted its steaks in 64 00:03:40,920 --> 00:03:46,320 Speaker 1: Amazon Salesforce and Alphabet. Berkshire Hathaway eliminated a Verizon steak 65 00:03:46,640 --> 00:03:51,160 Speaker 1: and boosted other bets, including Occidental Petroleum, increasing its investment 66 00:03:51,280 --> 00:03:53,920 Speaker 1: there more than it did in any other firm. But 67 00:03:54,000 --> 00:03:58,080 Speaker 1: Apple remains Berkshire's largest holding, and Michael Berry's Scion Asset 68 00:03:58,200 --> 00:04:02,680 Speaker 1: Management exited all equity positions except one it added, private 69 00:04:02,760 --> 00:04:06,800 Speaker 1: prison operator Geo Group, Scion's only stockholding as of the 70 00:04:06,920 --> 00:04:09,440 Speaker 1: end of June. Live in New York. I'm really need 71 00:04:09,480 --> 00:04:11,800 Speaker 1: a Young. Bloomberg Daybreak, all really need to thank you 72 00:04:12,000 --> 00:04:14,880 Speaker 1: Apple making news this morning. Bloomberg News has learned the 73 00:04:14,960 --> 00:04:18,159 Speaker 1: company has laid off many of its contract based recruiters 74 00:04:18,200 --> 00:04:19,960 Speaker 1: in the past week. It's part of a push to 75 00:04:20,080 --> 00:04:23,000 Speaker 1: rain and the tank giants hiring and spending. And in 76 00:04:23,120 --> 00:04:26,320 Speaker 1: another development, Apple has set a September fifth deadline for 77 00:04:26,440 --> 00:04:29,279 Speaker 1: corporate employees to be in the office at least three 78 00:04:29,360 --> 00:04:32,840 Speaker 1: days a week. COVID spikes disrupted Apple's previous attempts to 79 00:04:32,880 --> 00:04:35,240 Speaker 1: have workers back in the office. And let's turn to 80 00:04:35,360 --> 00:04:39,000 Speaker 1: politics now, where it's primary day in Wyoming and Alaska 81 00:04:39,480 --> 00:04:42,880 Speaker 1: Representative Liz Cheney bracing for a loss, while former vice 82 00:04:42,960 --> 00:04:46,640 Speaker 1: presidential candidate Sarah Palin looks at stage of political comeback 83 00:04:46,760 --> 00:04:51,440 Speaker 1: and Bloomberg's Amy Morris has more from oursroom. In Washington, 84 00:04:52,000 --> 00:04:55,159 Speaker 1: Cheney is all but certain to lose to challenger Harriet Hageman, 85 00:04:55,200 --> 00:04:58,039 Speaker 1: who has former President Trump support and leads by nearly 86 00:04:58,080 --> 00:05:01,000 Speaker 1: thirty percentage points in the polls. Like Cheney, supporters say 87 00:05:01,080 --> 00:05:04,839 Speaker 1: she's already charting a rebound. In Alaska, former Governor Sarah 88 00:05:04,880 --> 00:05:07,120 Speaker 1: Palin is trying for a comeback in the open race 89 00:05:07,200 --> 00:05:10,040 Speaker 1: for the state's sole seat in Congress. Her critics say 90 00:05:10,120 --> 00:05:12,400 Speaker 1: she's been more visible on right wing TV in the 91 00:05:12,440 --> 00:05:14,720 Speaker 1: Lower forty eight than in her own home state, but 92 00:05:14,920 --> 00:05:18,960 Speaker 1: she has Trump's endorsement. Also in Alaska, Senator Lisa Murkowski 93 00:05:19,120 --> 00:05:22,080 Speaker 1: is in a re election fight against Trump supported candidate 94 00:05:22,200 --> 00:05:26,320 Speaker 1: Kelly Shabaka in Washington. I'm maybe Morris Bloomberg Daybreak right, Amy, 95 00:05:26,360 --> 00:05:28,640 Speaker 1: thank you, but we also have news about Donald Trump's 96 00:05:28,680 --> 00:05:30,640 Speaker 1: battle with a Justice to Herman. The d o J 97 00:05:30,960 --> 00:05:34,160 Speaker 1: says it's against the release of an affidavit justifying a 98 00:05:34,279 --> 00:05:37,440 Speaker 1: search warrant for documents that the former president's Florida home. 99 00:05:37,880 --> 00:05:41,480 Speaker 1: The search warrant itself has been released, but the Justice 100 00:05:41,520 --> 00:05:46,240 Speaker 1: Department says the affidavit includes sensitive information about the investigation. St. 101 00:05:46,320 --> 00:05:49,760 Speaker 1: John's University law professor John Barrett says it's a standard 102 00:05:49,839 --> 00:05:52,480 Speaker 1: move by the d o J. It's the details of 103 00:05:53,160 --> 00:05:57,600 Speaker 1: what surveillance information, what inform and information, what prior course 104 00:05:57,680 --> 00:06:00,960 Speaker 1: and dealings led the government to believe that there were 105 00:06:01,240 --> 00:06:05,919 Speaker 1: classified documents in mar Laga, m That's all highly confidential 106 00:06:06,120 --> 00:06:09,880 Speaker 1: and actively part of an investigation. St. John's University law 107 00:06:09,920 --> 00:06:12,600 Speaker 1: professor John Barrett was a guest on Bloomberg's Sound on 108 00:06:12,800 --> 00:06:15,720 Speaker 1: Catch the program weekdays at Philli PM Eastern on Bloomberg 109 00:06:15,839 --> 00:06:20,039 Speaker 1: Radio and Geopolitics. Also in focus this morning, China says 110 00:06:20,240 --> 00:06:22,960 Speaker 1: it's going to fight back against the latest congressional visit 111 00:06:23,040 --> 00:06:26,440 Speaker 1: to Taiwan. Let's get more from Bloomberg's and Baxter. It 112 00:06:26,560 --> 00:06:29,280 Speaker 1: says it will increase patrols both air and see to 113 00:06:29,360 --> 00:06:33,240 Speaker 1: provide a resolute response. In an exclusive interview with Bloomberg 114 00:06:33,360 --> 00:06:37,000 Speaker 1: editor in chief John Mickelswaite, Singapore Deputy Prime Minister Lawrence 115 00:06:37,000 --> 00:06:41,640 Speaker 1: Wang says China and the US mistakenly could sleepwalk into 116 00:06:41,680 --> 00:06:46,160 Speaker 1: a conflict. We are starting to see a series of 117 00:06:46,279 --> 00:06:49,680 Speaker 1: decisions being taken by both countries that will lead us 118 00:06:49,800 --> 00:06:53,800 Speaker 1: into more and more dangerous territory. Wang says neither side 119 00:06:54,000 --> 00:06:57,920 Speaker 1: wants open conflict, but it's very concerned a mistake could 120 00:06:58,000 --> 00:07:01,520 Speaker 1: happen in San Francisco. I'm at Baxter Bloomberg Gay break 121 00:07:01,680 --> 00:07:03,600 Speaker 1: all right, and thank you for watching shares of Home 122 00:07:03,640 --> 00:07:06,200 Speaker 1: Depot this morning up nine tenths of a percent and 123 00:07:06,279 --> 00:07:09,680 Speaker 1: early trading after its earnings crossed the Bloomberg and reported 124 00:07:09,760 --> 00:07:13,600 Speaker 1: second quarter comps, sales that beat analysts estimates, and straight 125 00:07:13,640 --> 00:07:16,440 Speaker 1: to hand your latest local headlines plus the check of sports, 126 00:07:16,560 --> 00:07:24,360 Speaker 1: and this is Bloomberg. Thanks Karen six O seven on 127 00:07:24,440 --> 00:07:26,840 Speaker 1: Wall Street tend to bring in Michael Barr to find 128 00:07:26,880 --> 00:07:28,680 Speaker 1: out what else is going on in New York and 129 00:07:29,240 --> 00:07:31,520 Speaker 1: around the world. Chah, thank you very much, sir. It 130 00:07:31,720 --> 00:07:35,040 Speaker 1: is back to normal this morning. But yesterday travelers that 131 00:07:35,200 --> 00:07:38,080 Speaker 1: New York City area airports were sold by the f 132 00:07:38,320 --> 00:07:42,240 Speaker 1: a A to expect delays because of airline staffing shortages. 133 00:07:42,640 --> 00:07:45,720 Speaker 1: Staffing at a facility that manages the airspace for all 134 00:07:45,800 --> 00:07:48,760 Speaker 1: three major New York airports is said to be the problem. 135 00:07:49,320 --> 00:07:51,640 Speaker 1: The f a A leader tweeted that the problem had 136 00:07:51,720 --> 00:07:54,360 Speaker 1: been solved, but not soon enough for these people. They 137 00:07:54,400 --> 00:07:57,960 Speaker 1: were grounded. Maybe we'll start driving, Maybe that'll be better. 138 00:07:58,560 --> 00:08:02,280 Speaker 1: Maybe we'll see. With the industry struggling with pent up 139 00:08:02,400 --> 00:08:07,360 Speaker 1: demand for travel and a system that's understaff, post COVID airports, 140 00:08:07,440 --> 00:08:10,120 Speaker 1: blame the airlines, and the airlines blame the f a A. 141 00:08:10,920 --> 00:08:14,240 Speaker 1: Prosecutors in Atlanta have told Rudy Giuliani's lawyers that he 142 00:08:14,480 --> 00:08:17,680 Speaker 1: is a target of their criminal investigation in the possible 143 00:08:17,680 --> 00:08:21,120 Speaker 1: illegal attempts by then President Donald Trump and others to 144 00:08:21,280 --> 00:08:25,600 Speaker 1: interfere in the general election in Georgia. Giuliani says, you 145 00:08:25,680 --> 00:08:28,680 Speaker 1: do this to a lawyer, we don't have America anymore. 146 00:08:29,440 --> 00:08:32,920 Speaker 1: Russia and Ukraine blame each other for the renewed shelling 147 00:08:33,320 --> 00:08:37,040 Speaker 1: near a nuclear power plant in western Ukraine. State Department 148 00:08:37,120 --> 00:08:40,400 Speaker 1: spokesperson Ned Price says the US is closely monitoring the 149 00:08:40,480 --> 00:08:43,400 Speaker 1: activity at the plant. We believe that the fighting there 150 00:08:44,080 --> 00:08:48,320 Speaker 1: is dangerous, it's irresponsible, and we do continue to urge 151 00:08:48,600 --> 00:08:53,319 Speaker 1: into all military operations out of near Ukraine facilities in 152 00:08:53,400 --> 00:08:57,200 Speaker 1: the return of full control of those facilities. Ukraine State 153 00:08:57,240 --> 00:09:01,599 Speaker 1: Department spokesperson Ned Price. Ukrainian President voladimir's Lensky renewed his 154 00:09:01,720 --> 00:09:05,880 Speaker 1: call for fresh sanctions against Moscow. The efforts continue to 155 00:09:05,920 --> 00:09:08,559 Speaker 1: bring w n B A star Britney Grinder and fellow 156 00:09:08,600 --> 00:09:12,559 Speaker 1: American detainee Paul Wheeland back from Prussia. Grinder's attorneys have 157 00:09:12,720 --> 00:09:15,960 Speaker 1: filed an appeal who was recently sentenced to nine years 158 00:09:16,000 --> 00:09:19,439 Speaker 1: in prison in Russia. Bill Richardson, who has worked in 159 00:09:19,520 --> 00:09:23,280 Speaker 1: hostage negotiations through his position at the Richardson Center for 160 00:09:23,360 --> 00:09:27,120 Speaker 1: Global Engagement, says he has talked to both sides. It 161 00:09:27,320 --> 00:09:32,800 Speaker 1: basically says the legal process is over except for the appeal, 162 00:09:32,920 --> 00:09:36,280 Speaker 1: and it's reasonable to have this appeal nine years sentence 163 00:09:36,360 --> 00:09:40,199 Speaker 1: in a penal Connolly now there can be negotiations between 164 00:09:40,559 --> 00:09:44,360 Speaker 1: the United States and Russia. Bill Richardson believes Grinder's legal 165 00:09:44,480 --> 00:09:47,599 Speaker 1: team has been effective global news twenty four hours a 166 00:09:47,679 --> 00:09:50,560 Speaker 1: day on air and on Bloomberg Quick Take power by 167 00:09:50,600 --> 00:09:54,199 Speaker 1: more than journalists analysts more than a hundred, twenty countries. 168 00:09:54,559 --> 00:10:00,559 Speaker 1: Michael Barr, this is Bloomberg, John, Michael, thank you. It's 169 00:10:00,559 --> 00:10:02,559 Speaker 1: not sixteen out of Wall Street. Best time for the 170 00:10:02,679 --> 00:10:05,720 Speaker 1: Rubert Sports Up, johns Seth Show. All right, John's more 171 00:10:05,720 --> 00:10:08,240 Speaker 1: than just a little slump down for the Yankees eleven 172 00:10:08,360 --> 00:10:10,719 Speaker 1: and twenty one over their last thirty two games to 173 00:10:10,880 --> 00:10:13,560 Speaker 1: and ten in their last twelve. Shout out four times, 174 00:10:13,640 --> 00:10:16,720 Speaker 1: including Sunday night in Boston and again last night at 175 00:10:16,760 --> 00:10:19,400 Speaker 1: the Stadium Tampa Bay. Who's five pitchers and one four nothing, 176 00:10:19,720 --> 00:10:22,360 Speaker 1: took advantage of an Aaron Hicks misplay and center field 177 00:10:22,400 --> 00:10:24,880 Speaker 1: to score one run, then scored three more with two 178 00:10:24,920 --> 00:10:27,040 Speaker 1: outs of the ninth inning. Things look bleak, and yet 179 00:10:27,080 --> 00:10:30,600 Speaker 1: Aaron Boone. Ever, the optimists, sure there's some good things happening. 180 00:10:30,679 --> 00:10:33,439 Speaker 1: Our starters continue to really throw the ball well. A 181 00:10:33,520 --> 00:10:35,800 Speaker 1: number of guys out of the pen um, you know, 182 00:10:35,880 --> 00:10:39,719 Speaker 1: even though louse struggle tonight, are are throwing the ball. Well. Um, 183 00:10:39,960 --> 00:10:42,400 Speaker 1: we just gotta get some guys on tracked offensively right 184 00:10:42,440 --> 00:10:45,960 Speaker 1: now and and get guys that should be key contributors 185 00:10:46,000 --> 00:10:48,280 Speaker 1: contributing like they're capable of. Hicks has been a real 186 00:10:48,360 --> 00:10:50,640 Speaker 1: problem five for his last fifty three Yanks had one 187 00:10:50,640 --> 00:10:53,200 Speaker 1: scoring is right. Last night, bases loaded fourth inning, Hicks 188 00:10:53,640 --> 00:10:56,000 Speaker 1: hit into an inning ending double play. The Mets was 189 00:10:56,080 --> 00:10:59,240 Speaker 1: lopside and loss of the season thirteen to one. In Atlanta, 190 00:10:59,280 --> 00:11:01,079 Speaker 1: the Braves at three home runs, the top two in 191 00:11:01,080 --> 00:11:03,880 Speaker 1: their order, Ronald Kuna and Dance Preas wants and combined 192 00:11:03,960 --> 00:11:06,319 Speaker 1: for six hits six rb I seventh trade win for 193 00:11:06,400 --> 00:11:08,600 Speaker 1: Atlanta backed within four and a half of the mets 194 00:11:08,920 --> 00:11:11,000 Speaker 1: eighty win of the year for the Dodgers, they won 195 00:11:11,080 --> 00:11:14,079 Speaker 1: thirteen and fourteen. That's after learning the Walker Bueller, who 196 00:11:14,200 --> 00:11:16,439 Speaker 1: was fourth in the Cy Young voting last years, having 197 00:11:16,559 --> 00:11:20,840 Speaker 1: season ending elbow surgery. Texas Rangers fired their manager, Chris Woodward. 198 00:11:21,000 --> 00:11:23,199 Speaker 1: Rangers having a rough year after spending a lot in 199 00:11:23,280 --> 00:11:26,400 Speaker 1: the off season. Tiger Woods will meet today without twenty 200 00:11:26,440 --> 00:11:28,920 Speaker 1: members of the PG eight tour. I pepped off on 201 00:11:29,000 --> 00:11:31,000 Speaker 1: how to make the tour better and fight off the 202 00:11:31,120 --> 00:11:33,840 Speaker 1: challenge from the new Live Tour. Pete Carill has died 203 00:11:33,880 --> 00:11:36,200 Speaker 1: at ninety two. The Hall of fame basketball coach at 204 00:11:36,280 --> 00:11:40,319 Speaker 1: Princeton for twenty nine years. He won thirteen IVY League championships. 205 00:11:40,400 --> 00:11:43,560 Speaker 1: John Stashward, Bloomberg Sports. John, all right, thanks John, hand 206 00:11:43,600 --> 00:11:45,840 Speaker 1: ahead of the cashow on Wall Street. We're looking at 207 00:11:45,880 --> 00:11:49,040 Speaker 1: futures right now, even the red the down, futures down 208 00:11:49,120 --> 00:11:53,160 Speaker 1: thirty two points, spe Mini futures eight point slower. And 209 00:11:53,320 --> 00:11:56,240 Speaker 1: then I say futures right now they are down thirty 210 00:11:56,320 --> 00:11:58,679 Speaker 1: three points. Not make screwed down forty two sons of 211 00:11:58,760 --> 00:12:03,240 Speaker 1: barrel at eighty eight nine. You're listening to Bloomberg Daybreak 212 00:12:06,880 --> 00:12:11,319 Speaker 1: and just ahead, well preview earnings from Walmart breakdown some 213 00:12:11,440 --> 00:12:14,920 Speaker 1: of the other retailers reporting today. We'll speak with John 214 00:12:15,080 --> 00:12:23,160 Speaker 1: Edwards of Bloomberg News. You're listening to Daybreak, markets, headlines 215 00:12:23,240 --> 00:12:26,199 Speaker 1: and breaking news twenty four hours a day at Bloomberg 216 00:12:26,280 --> 00:12:29,679 Speaker 1: dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. 217 00:12:30,200 --> 00:12:39,199 Speaker 1: He's a Bloomberg Business lash and I'm Karen Moscow. And 218 00:12:39,240 --> 00:12:41,680 Speaker 1: we continue to watch shares of home Depot this morning. 219 00:12:41,800 --> 00:12:45,280 Speaker 1: They have turned lower, now down one point seven per cent. 220 00:12:45,400 --> 00:12:49,000 Speaker 1: Home Depot reported second quarter comp sales that beat analysts estimates, 221 00:12:49,040 --> 00:12:50,840 Speaker 1: but it did say that Colm sales for the year 222 00:12:51,400 --> 00:12:54,760 Speaker 1: could just meet what analysts are looking for. Futures this 223 00:12:54,960 --> 00:12:58,040 Speaker 1: morning are lower. SMP Future is down about ten points down, 224 00:12:58,120 --> 00:13:00,280 Speaker 1: futures down fifty seven and as day a few years 225 00:13:00,320 --> 00:13:03,000 Speaker 1: down thirty six. The DACKS in Germany is up about 226 00:13:03,040 --> 00:13:05,920 Speaker 1: half percent. Ten year treasury down to thirty seconds yield 227 00:13:05,920 --> 00:13:08,520 Speaker 1: two point seven nine percent yield on a two year 228 00:13:08,640 --> 00:13:11,920 Speaker 1: three point to zero percent. NIMEX screwed oil is down 229 00:13:12,000 --> 00:13:14,440 Speaker 1: six tents percent or fifty five cents at eighty eight 230 00:13:14,480 --> 00:13:17,160 Speaker 1: dollars eighty five cents of Arrol Comic School down four 231 00:13:17,200 --> 00:13:20,720 Speaker 1: tenths per cent or seven dollars sixty cents A seventy announced. 232 00:13:21,040 --> 00:13:23,560 Speaker 1: The euro one point one four zero against the dollar, 233 00:13:23,600 --> 00:13:25,880 Speaker 1: British found one point to zero to three and again 234 00:13:25,920 --> 00:13:28,360 Speaker 1: at one thirty four point one one. And look at 235 00:13:28,400 --> 00:13:31,160 Speaker 1: a bitcoin it is it'll change at twenty four thousand, 236 00:13:31,320 --> 00:13:34,320 Speaker 1: eighty dollars. That's a bloomberg business flash. Now here's Michael 237 00:13:34,360 --> 00:13:36,520 Speaker 1: Barrow with more on what's going on around the world. 238 00:13:36,640 --> 00:13:39,640 Speaker 1: Michael Karen, thank you very much. The Justice Department Center 239 00:13:39,760 --> 00:13:43,360 Speaker 1: opposes the release of an FBI f A David justifying 240 00:13:43,440 --> 00:13:46,440 Speaker 1: to search for and used to remove documents from former 241 00:13:46,520 --> 00:13:49,720 Speaker 1: President Donald Trump's Marrow logo home in Florida. Last week, 242 00:13:50,080 --> 00:13:52,280 Speaker 1: the do o J asked the judge to keep the 243 00:13:52,360 --> 00:13:56,800 Speaker 1: filing sealed due to the investigation that implicates national security. 244 00:13:57,200 --> 00:14:00,960 Speaker 1: It is primary day in Wyoming and Alaska. Republican congress 245 00:14:01,000 --> 00:14:04,160 Speaker 1: Womanalist Cheney is fighting to keep her seat after voting 246 00:14:04,240 --> 00:14:07,599 Speaker 1: to impeach Trump. In baseball, the slumpy Yankees lost with 247 00:14:07,640 --> 00:14:10,560 Speaker 1: the Rays for zip the Braves, oh mind, they put 248 00:14:10,600 --> 00:14:13,200 Speaker 1: a what four and y whipping on the Mets thirteen one. 249 00:14:13,679 --> 00:14:17,400 Speaker 1: The Nationals, Orioles and Giants won the A's lost. Global 250 00:14:17,480 --> 00:14:19,400 Speaker 1: news twenty four hours a day on air and on 251 00:14:19,480 --> 00:14:22,440 Speaker 1: Bloomberg Quick Day bower by more than dred journalists and 252 00:14:22,440 --> 00:14:25,200 Speaker 1: analysts more than a hundred twenty countries. How Michael Barr, 253 00:14:25,240 --> 00:14:27,440 Speaker 1: this is Bloomberg, John, Michael, thank you. It is now 254 00:14:27,520 --> 00:14:30,360 Speaker 1: five six twenty on Walster. We're live from the Bloomberg 255 00:14:30,400 --> 00:14:34,160 Speaker 1: interad to Broker Studios. This is Bloomberg Daybreak. Well, analysts 256 00:14:34,200 --> 00:14:37,520 Speaker 1: are seeking clues about how storing inflation is going to 257 00:14:37,600 --> 00:14:41,120 Speaker 1: impact spending during the rest of the year. Retail earnings 258 00:14:41,360 --> 00:14:45,320 Speaker 1: on Tap we we just got home Depot Walmart is 259 00:14:45,360 --> 00:14:48,200 Speaker 1: going to report fiscals or second quarter results before the 260 00:14:48,280 --> 00:14:51,320 Speaker 1: market opened this morning. And joining us now with everything 261 00:14:51,560 --> 00:14:56,920 Speaker 1: retail is John Edwards, us consumer team leader. Let's start 262 00:14:56,960 --> 00:14:59,040 Speaker 1: off with a place where I've yet to buy a 263 00:14:59,720 --> 00:15:02,360 Speaker 1: two by four that isn't warped. They're still buying at 264 00:15:02,400 --> 00:15:04,800 Speaker 1: home Depot. It looks that way. Yeah, there were some 265 00:15:04,960 --> 00:15:09,760 Speaker 1: concerns that the housing slowdown was going to affect Home 266 00:15:09,840 --> 00:15:13,720 Speaker 1: Depot's results, but it turns out that, you know, they 267 00:15:13,800 --> 00:15:17,960 Speaker 1: beat expectations for the quarter, they reaffirmed their expectations for 268 00:15:18,080 --> 00:15:22,640 Speaker 1: the year, and it seems that home improvement spending is 269 00:15:22,680 --> 00:15:25,560 Speaker 1: still holding up. So it it looks like people are 270 00:15:25,680 --> 00:15:30,080 Speaker 1: countering that home sales slow down by trying to fix 271 00:15:30,160 --> 00:15:32,920 Speaker 1: up their homes to make them more appealing in the 272 00:15:33,120 --> 00:15:36,400 Speaker 1: market that's still out there. Okay, um, let's head to 273 00:15:36,680 --> 00:15:40,320 Speaker 1: uh number one retailer, Walmart, and this is a story 274 00:15:40,640 --> 00:15:45,520 Speaker 1: I would imagine about margins. Are people buying stuff that 275 00:15:45,680 --> 00:15:48,760 Speaker 1: they need or stuff that they don't necessarily need with 276 00:15:49,000 --> 00:15:52,480 Speaker 1: higher margins? Now that yeah, that's exactly it. Walmart issued 277 00:15:52,520 --> 00:15:56,760 Speaker 1: a warning in July late July saying that it's the 278 00:15:56,880 --> 00:15:59,720 Speaker 1: mix of its sales was going to hurt its margins 279 00:15:59,760 --> 00:16:03,840 Speaker 1: because because people were backing away from discretionary purchases of 280 00:16:03,960 --> 00:16:08,440 Speaker 1: higher margin items like electronics and uh, you know, other 281 00:16:09,120 --> 00:16:13,840 Speaker 1: discretionary goods and spending more on food and fuel, which 282 00:16:13,920 --> 00:16:18,840 Speaker 1: have lower margins. So the figure to watch is pent 283 00:16:19,000 --> 00:16:22,680 Speaker 1: that's the current estimate for their gross margin for the 284 00:16:23,080 --> 00:16:26,600 Speaker 1: second quarter, and we'll find out at seven o'clock if 285 00:16:26,680 --> 00:16:28,920 Speaker 1: they hit that. Well at the top line, but people 286 00:16:28,960 --> 00:16:31,400 Speaker 1: are still I mean, sales are actually increasing. Do I 287 00:16:31,480 --> 00:16:34,000 Speaker 1: have that right? That's exactly right. Uh, you know what, 288 00:16:34,200 --> 00:16:36,720 Speaker 1: when they issued that profit warning, they also said that 289 00:16:36,800 --> 00:16:40,520 Speaker 1: their sales would actually be higher than expected. And uh, again, 290 00:16:40,600 --> 00:16:44,280 Speaker 1: the problem is not so much sales overall as the mix. 291 00:16:44,880 --> 00:16:48,800 Speaker 1: So uh, they're selling a lot of groceries, um, you know, 292 00:16:48,960 --> 00:16:52,280 Speaker 1: a lot of fuel at their their gas stations, but 293 00:16:52,920 --> 00:16:56,280 Speaker 1: those items have lower profit margins for them, and so 294 00:16:56,520 --> 00:16:59,240 Speaker 1: that's what's hurting their profits. Do these places have a 295 00:16:59,280 --> 00:17:02,280 Speaker 1: lot of stuff in the warehouses that they got to 296 00:17:02,320 --> 00:17:06,120 Speaker 1: get rid of? Absolutely? Yeah, well they you know, Walmart 297 00:17:06,160 --> 00:17:09,720 Speaker 1: and other retailers tried to stock up a lot, you know, 298 00:17:09,840 --> 00:17:12,600 Speaker 1: during the during the pandemic, the height of the pandemic 299 00:17:12,720 --> 00:17:15,960 Speaker 1: because of those supply chain problems, that we were seeing 300 00:17:16,520 --> 00:17:18,359 Speaker 1: and uh, in some ways they might have been too 301 00:17:18,440 --> 00:17:21,119 Speaker 1: successful at that. You know, they stocked up on a 302 00:17:21,200 --> 00:17:24,440 Speaker 1: lot of things that people were wanting back in the 303 00:17:25,359 --> 00:17:29,080 Speaker 1: height of the the pandemic, and uh, now that people 304 00:17:29,119 --> 00:17:32,359 Speaker 1: have shifted their their spending, uh, they're stuck with a 305 00:17:32,440 --> 00:17:34,440 Speaker 1: lot of goods that they need to move and so 306 00:17:34,600 --> 00:17:38,240 Speaker 1: they've had to uh bring in bigger discounts on those things, 307 00:17:38,320 --> 00:17:41,720 Speaker 1: and that again is hurting margins even more. Uh it's 308 00:17:41,840 --> 00:17:45,800 Speaker 1: back to school. Are they also preparing for um, you know, 309 00:17:46,080 --> 00:17:50,280 Speaker 1: Halloween and Christmas even absolutely? Yeah, yeah they are. They're 310 00:17:50,320 --> 00:17:53,679 Speaker 1: getting ready. You know, Halloween stuff is probably already at 311 00:17:53,760 --> 00:17:56,560 Speaker 1: least in the warehouses, if not starting to hit the shelves, 312 00:17:57,119 --> 00:17:59,639 Speaker 1: and uh yeah, they want to be ready for the 313 00:18:00,080 --> 00:18:03,320 Speaker 1: Christmas season as well. But again, you know, the concern 314 00:18:03,480 --> 00:18:06,000 Speaker 1: right now is not so much being fully stocked. I 315 00:18:06,040 --> 00:18:10,239 Speaker 1: think they feel like they're their shelves will be full enough. Uh, 316 00:18:10,359 --> 00:18:13,920 Speaker 1: it's getting rid of those uh that excess inventory. Okay, 317 00:18:13,960 --> 00:18:15,200 Speaker 1: so that means I can go in and get a 318 00:18:15,240 --> 00:18:17,320 Speaker 1: good discount, right if I want to buy something that 319 00:18:17,400 --> 00:18:22,280 Speaker 1: nobody else wants record that's exactly a yeah, how much 320 00:18:22,359 --> 00:18:25,200 Speaker 1: is that going to impact the margin their their profitability 321 00:18:25,280 --> 00:18:29,000 Speaker 1: going forward. Uh, well, it's it's certainly. Again they issued 322 00:18:29,040 --> 00:18:31,560 Speaker 1: a warning for the full year, so they expect that 323 00:18:31,680 --> 00:18:35,600 Speaker 1: to hurt their profits through the rest of their fiscal year. Uh. 324 00:18:35,680 --> 00:18:38,080 Speaker 1: And we'll see what the recovery is like. And we'll 325 00:18:38,119 --> 00:18:41,440 Speaker 1: we'll also see if they managed to exceed expectations their 326 00:18:41,480 --> 00:18:45,200 Speaker 1: lowered expectations. The way Home Depot managed to beat their estimates. 327 00:18:45,359 --> 00:18:47,760 Speaker 1: As Bell weathers, what does this all tell us the 328 00:18:48,160 --> 00:18:51,440 Speaker 1: bottom line about the American consumer right now? Well, it 329 00:18:51,840 --> 00:18:53,720 Speaker 1: it tells us that, you know, there is actually some 330 00:18:53,840 --> 00:18:56,639 Speaker 1: consumer strength out there. It's it's just you know, a 331 00:18:56,720 --> 00:18:58,680 Speaker 1: matter of you know, we I mean, we see that 332 00:19:00,720 --> 00:19:04,000 Speaker 1: obviously inflation is hitting people and and you know, sort 333 00:19:04,040 --> 00:19:07,240 Speaker 1: of shifting them away again from those sort of discretionary, 334 00:19:07,320 --> 00:19:11,480 Speaker 1: big ticket purchases. But people are still employed, you know, 335 00:19:11,600 --> 00:19:15,400 Speaker 1: unemployment is low and uh so people do have money 336 00:19:15,480 --> 00:19:18,719 Speaker 1: to spend. It's just they're spending it more on essentials 337 00:19:18,880 --> 00:19:22,359 Speaker 1: like like food and uh and fuel. John, a pleasure, 338 00:19:22,400 --> 00:19:25,000 Speaker 1: appreciate it. Thanks for stopping buying this morning. John Edwards, 339 00:19:25,119 --> 00:19:28,879 Speaker 1: the U S Consumer team leader here at Bloomberg. Again, 340 00:19:28,960 --> 00:19:32,840 Speaker 1: we're waiting for Walmart earnings this morning before the opening 341 00:19:32,880 --> 00:19:36,320 Speaker 1: bill on Wall Street. Home Depot did report comparable sales 342 00:19:36,359 --> 00:19:40,560 Speaker 1: for the second quarter that did beat the average analysts estimate. 343 00:19:40,920 --> 00:19:42,760 Speaker 1: Head of the cash open on Wall Street. Looking at 344 00:19:42,800 --> 00:19:45,120 Speaker 1: futures right now, they're in the red. The down futures 345 00:19:45,520 --> 00:19:48,840 Speaker 1: fifty one points lower, smp E many futures there down 346 00:19:48,960 --> 00:19:52,280 Speaker 1: seven points, and then as day futures right now twenty 347 00:19:52,400 --> 00:19:54,960 Speaker 1: four points lower. As far as yields go, the ten 348 00:19:55,040 --> 00:19:57,840 Speaker 1: year yield to seventy nine, the two year at three 349 00:19:57,960 --> 00:20:02,720 Speaker 1: twenty and night nex crew Dow eight two A barrel. 350 00:20:03,160 --> 00:20:11,040 Speaker 1: You're listening the Bloomberg and just a haad top stories. 351 00:20:11,440 --> 00:20:24,359 Speaker 1: You're listening to Bloomberg Daybreak, broadcasting live from the Bloomberg 352 00:20:24,440 --> 00:20:28,119 Speaker 1: Interactive Broker's studio in New York. Bloomberg E Living Freedom 353 00:20:28,280 --> 00:20:32,520 Speaker 1: to Washington, d C, Bloomberg to Boston, Bloomberg one oh 354 00:20:32,640 --> 00:20:36,080 Speaker 1: six one, does San Francisco, Bloomberg nine sixty to the country, 355 00:20:36,240 --> 00:20:39,200 Speaker 1: Sirius xm ch A one nine and around the globe, 356 00:20:39,320 --> 00:20:43,280 Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is 357 00:20:43,320 --> 00:20:51,640 Speaker 1: Bloomberg Daybreak. It's there's thirty on Wall Street. Good Morning, 358 00:20:51,680 --> 00:20:54,399 Speaker 1: I'm John Tucker and I'm Karen Moscow. We are just 359 00:20:54,520 --> 00:20:57,240 Speaker 1: about three hours away from the open of US trading time. 360 00:20:57,320 --> 00:20:59,040 Speaker 1: To the five things that you need to notice start 361 00:20:59,080 --> 00:21:03,359 Speaker 1: your day, Bronzie, you buy Interactive Brokers. Interactive Brokers Global 362 00:21:03,400 --> 00:21:06,680 Speaker 1: Analysts helps you find a global investment opportunity. Should diversify 363 00:21:06,720 --> 00:21:10,200 Speaker 1: your portfolio and discover undervalued companies that may have greater 364 00:21:10,280 --> 00:21:13,280 Speaker 1: growth potential. Try i v k our Global Analysts today 365 00:21:13,359 --> 00:21:16,840 Speaker 1: at ib k R dot com slash g A. First, 366 00:21:16,920 --> 00:21:19,480 Speaker 1: we begin today with stocks at a three month high. 367 00:21:19,800 --> 00:21:22,840 Speaker 1: That's just find concerns over inflation and a potential recession. 368 00:21:23,200 --> 00:21:27,560 Speaker 1: Julie Beale's portfolio manager at Kane Anderson Rudnick. The ways 369 00:21:27,640 --> 00:21:29,399 Speaker 1: that you can kind of stay out of trouble, I 370 00:21:29,440 --> 00:21:33,399 Speaker 1: think is investing in businesses that typically just serve other businesses. 371 00:21:33,560 --> 00:21:35,800 Speaker 1: And I like software because they have high levels of 372 00:21:35,840 --> 00:21:38,840 Speaker 1: recurring revenue and very good profitability. I think that makes 373 00:21:38,880 --> 00:21:42,040 Speaker 1: them more durable. Julie b l with Kane Anderson Rudnick 374 00:21:42,119 --> 00:21:45,080 Speaker 1: says it's crucial for the Fed to reign in inflation 375 00:21:45,320 --> 00:21:48,760 Speaker 1: and to earnings. Now Home Depot reported sales above analysts 376 00:21:48,880 --> 00:21:51,119 Speaker 1: estimates about these stock is down more than one percent 377 00:21:51,400 --> 00:21:53,880 Speaker 1: we'rena hear from retail giant Walmart in about a half 378 00:21:53,920 --> 00:21:57,560 Speaker 1: an hour and Bloomberg's Charlie Pellett as a preview. Analysts 379 00:21:57,560 --> 00:22:01,639 Speaker 1: surveyed by Bloomberg's see Walmart reporting second quarter adjusted earnings 380 00:22:01,720 --> 00:22:04,359 Speaker 1: for share of a dollar sixty three on revenue of 381 00:22:04,520 --> 00:22:08,719 Speaker 1: one hundred fifty one point one billion dollars. Walmart's insights 382 00:22:08,760 --> 00:22:12,280 Speaker 1: into shopper behavior will be under scrutiny, was analystsic clues 383 00:22:12,320 --> 00:22:15,720 Speaker 1: about how soaring inflation will affect spending during the rest 384 00:22:15,800 --> 00:22:18,520 Speaker 1: of the year. The retail giant cut ITTs earnings outlook 385 00:22:18,600 --> 00:22:22,040 Speaker 1: three weeks ago in New York Charlie pet Bloomberg day Break, 386 00:22:22,080 --> 00:22:24,280 Speaker 1: All right, turning, thanks Well this morning, we're learning of 387 00:22:24,400 --> 00:22:27,320 Speaker 1: moves from the world's biggest money managers on Bloombergy's Renny 388 00:22:27,320 --> 00:22:30,000 Speaker 1: to Young joins us Live with more. Good morning Nia, 389 00:22:30,119 --> 00:22:33,439 Speaker 1: Good morning Karen. During the latest quarter, Stanley drugon Miller's 390 00:22:33,480 --> 00:22:37,640 Speaker 1: family office sold its entire one ninety nine million dollar position, 391 00:22:37,720 --> 00:22:41,800 Speaker 1: and Amazon and scaled back at steak in Microsoft Sorol's 392 00:22:41,840 --> 00:22:45,359 Speaker 1: fund management meanwhile boosted it states in Amazon salesforce and 393 00:22:45,520 --> 00:22:50,280 Speaker 1: Alphabet Berkshire Hathaway eliminated a Verizon steak and boosted other bets, 394 00:22:50,359 --> 00:22:55,160 Speaker 1: including Occidental Petroleum and Michael Berry's Scion. Asset Management exited 395 00:22:55,240 --> 00:22:59,880 Speaker 1: all equity positions except private prison operator Geo Group. It's 396 00:23:00,000 --> 00:23:02,920 Speaker 1: only stockholding as at the end of June. Live in 397 00:23:03,000 --> 00:23:08,040 Speaker 1: New York. I'm gonna need a young Bloomberg Daybreak, all right, thanks, 398 00:23:08,320 --> 00:23:10,080 Speaker 1: thanks for NTO. Those are the fine things you need 399 00:23:10,160 --> 00:23:11,920 Speaker 1: to know to start your day. Brought to by it, 400 00:23:12,040 --> 00:23:15,160 Speaker 1: brought you by Interactive Brokers, said ahead of the cash 401 00:23:15,240 --> 00:23:18,520 Speaker 1: open on Wall Street, we have BAL futures down sixty 402 00:23:18,560 --> 00:23:20,840 Speaker 1: two points. That's a decline of two tents of a percent. 403 00:23:21,160 --> 00:23:23,840 Speaker 1: S and P evening futures down to eight that's down 404 00:23:23,920 --> 00:23:26,160 Speaker 1: two tents of a percent. And the NaNs day futures 405 00:23:26,240 --> 00:23:29,480 Speaker 1: right now twenty five points lower, two tenths of a 406 00:23:29,600 --> 00:23:34,240 Speaker 1: percent lower. Just ahead, local stories. You're listening to Bloomberg Daybreak. 407 00:23:38,720 --> 00:23:41,200 Speaker 1: It's not six thirty three on Wall Street. And let's 408 00:23:41,320 --> 00:23:43,360 Speaker 1: bring in Michael barn how to tell us what else 409 00:23:43,480 --> 00:23:45,840 Speaker 1: is going on in New York hand around the world. 410 00:23:46,240 --> 00:23:48,640 Speaker 1: Thank you very much, sir. Things appear to be back 411 00:23:48,720 --> 00:23:51,800 Speaker 1: to normal this morning. After travelers at New York City 412 00:23:51,840 --> 00:23:56,679 Speaker 1: area airports, including JFK, LaGuardia and Newark were told by 413 00:23:56,720 --> 00:23:59,800 Speaker 1: the f a A to expect delays because of airlines 414 00:24:00,040 --> 00:24:04,479 Speaker 1: laughing shortages. Yesterday, this college student Mr Connector from Newark 415 00:24:04,560 --> 00:24:07,359 Speaker 1: to get Syracuse. She told news for she had to 416 00:24:07,400 --> 00:24:09,600 Speaker 1: spend the night at the airport. They only had like 417 00:24:09,880 --> 00:24:15,920 Speaker 1: two hours at this airport and had to change channels 418 00:24:17,680 --> 00:24:20,200 Speaker 1: and the next flight to Circus is in the morning. 419 00:24:20,480 --> 00:24:23,040 Speaker 1: The problem was said to be staffing at a facility 420 00:24:23,119 --> 00:24:26,800 Speaker 1: that manages the airspace for all three major New York airports. 421 00:24:27,160 --> 00:24:30,280 Speaker 1: Rudy Giuliani is a target of the criminal investigation into 422 00:24:30,320 --> 00:24:33,840 Speaker 1: possible illegal attempts by then President Donald Trump and others 423 00:24:33,960 --> 00:24:38,440 Speaker 1: to interfere in the general election in Georgia. Prosecutors informed 424 00:24:38,480 --> 00:24:42,920 Speaker 1: attorneys for the former New York mayor turned Trump defender. Meanwhile, 425 00:24:43,040 --> 00:24:47,760 Speaker 1: Alan Weislberg, the Trump organization's longtime CFO, is said to 426 00:24:47,840 --> 00:24:50,960 Speaker 1: be in Polee talks with state prosecutors to resolve tax 427 00:24:51,040 --> 00:24:54,200 Speaker 1: for all charges. The effort to bring w NBA star 428 00:24:54,320 --> 00:24:57,600 Speaker 1: Britney Grinder and fellow American detainee Paul Wheeland back from 429 00:24:57,680 --> 00:25:01,800 Speaker 1: Russia is ongoing. Grinder is recently sentenced to nine years 430 00:25:01,840 --> 00:25:04,959 Speaker 1: in prison in Russia. Her attorneys have filed an appeal. 431 00:25:05,359 --> 00:25:09,600 Speaker 1: Bill Richardson, who has worked in hostage negotiations through his 432 00:25:09,720 --> 00:25:12,960 Speaker 1: position at the Richardson Center for Global man Engagement, He 433 00:25:13,119 --> 00:25:15,639 Speaker 1: says he has talked to both sides and it's optimistic 434 00:25:16,040 --> 00:25:18,640 Speaker 1: both sides are moving in the right direction because they've 435 00:25:18,680 --> 00:25:22,040 Speaker 1: done it before. Despite the fact that the relationship between 436 00:25:22,080 --> 00:25:26,040 Speaker 1: the United States and Russia is toxic, Bill Richardson believes 437 00:25:26,119 --> 00:25:31,080 Speaker 1: Griner's legal team has been effective. Businessman turned philanthropists Bill 438 00:25:31,200 --> 00:25:34,679 Speaker 1: Gates spoke to South Korean lawmakers and Soul today. Gates 439 00:25:34,720 --> 00:25:37,920 Speaker 1: called for more international efforts to prevent disease outbreaks like 440 00:25:38,040 --> 00:25:42,119 Speaker 1: COVID nineteen, enhancing our global surveillance, having what I call 441 00:25:42,200 --> 00:25:46,359 Speaker 1: a germ team three thousand people to tract things and 442 00:25:46,560 --> 00:25:52,320 Speaker 1: stop outbreaks before they become pandemics. Philanthropist Bill Gates, the 443 00:25:52,400 --> 00:25:55,920 Speaker 1: CDC has published new guidance on their website for Americans 444 00:25:55,960 --> 00:25:59,440 Speaker 1: who have caught monkey poks. Among the new recommendations, the 445 00:25:59,520 --> 00:26:03,080 Speaker 1: CDs e's his people who can isolate in another household 446 00:26:03,359 --> 00:26:07,200 Speaker 1: should take steps to avoid spreading monkey box, like disinfecting 447 00:26:07,280 --> 00:26:11,119 Speaker 1: door knobs and not sharing towns. Global News twenty four 448 00:26:11,200 --> 00:26:13,760 Speaker 1: hours a day on air and on Bloomberg Quick Take, 449 00:26:13,960 --> 00:26:16,840 Speaker 1: powered by more than twenty seven hundred journalists and analysts 450 00:26:16,880 --> 00:26:19,359 Speaker 1: to more than hundred twenty countries. How Michael Barr, this 451 00:26:19,520 --> 00:26:26,719 Speaker 1: is Bloomberg, John, Michael, thank you, And it is now 452 00:26:26,800 --> 00:26:28,920 Speaker 1: six thirty six on Wall Street. Time down for the 453 00:26:28,920 --> 00:26:32,640 Speaker 1: Bloomberg Sports Uptape. Just John, Thanks John. The first place 454 00:26:32,720 --> 00:26:35,680 Speaker 1: Matt's first place Yankees, and yet last night they both 455 00:26:35,800 --> 00:26:38,600 Speaker 1: lost and by a combined score of seventeen to one. 456 00:26:38,680 --> 00:26:41,359 Speaker 1: Mets pitching has been so good eight games in a 457 00:26:41,520 --> 00:26:44,120 Speaker 1: row without allowing more than two runs. Just add back 458 00:26:44,160 --> 00:26:46,760 Speaker 1: to back shutout to the Phillies with the Braves got 459 00:26:46,800 --> 00:26:49,120 Speaker 1: three runs up Carlos Carrasco and then an eight run 460 00:26:49,240 --> 00:26:51,840 Speaker 1: six thenning to win thirteen to one. And since thosing 461 00:26:51,880 --> 00:26:54,600 Speaker 1: four or five at City Field, Braves have won seventh straight. 462 00:26:54,640 --> 00:26:56,520 Speaker 1: They're back to within four and a half of the Mets. 463 00:26:56,880 --> 00:26:59,080 Speaker 1: Three more games remain in this series. The Mets have 464 00:26:59,160 --> 00:27:01,280 Speaker 1: lost in for the Louis Ski or May to a 465 00:27:01,400 --> 00:27:03,840 Speaker 1: growing injury. The Manager's Buck Show, Walt, Let's just play 466 00:27:03,880 --> 00:27:07,359 Speaker 1: without Shore, Yankees playing without Stanton m These guys are 467 00:27:07,359 --> 00:27:10,160 Speaker 1: playing without people. I mean, it is what is Yeah, 468 00:27:10,200 --> 00:27:13,359 Speaker 1: he's stable, so it was so it's Jake de Gram 469 00:27:13,520 --> 00:27:17,800 Speaker 1: so it's uh, you know, Nemo has been down. Heels 470 00:27:17,840 --> 00:27:20,280 Speaker 1: been down, I mean, and this is what it is. 471 00:27:20,440 --> 00:27:22,760 Speaker 1: Yankee injuries have certainly hurt them. D J. Le May 472 00:27:22,880 --> 00:27:24,440 Speaker 1: you're the latest to be out of the lineup. Still, 473 00:27:24,520 --> 00:27:27,080 Speaker 1: it's remarkable how poorly the Yankees have played. That has 474 00:27:27,200 --> 00:27:29,159 Speaker 1: been so good for three months. They've lost ten of 475 00:27:29,240 --> 00:27:32,160 Speaker 1: last twelve. They've been shut out four times. Tampa Bay, 476 00:27:32,280 --> 00:27:34,640 Speaker 1: who had a near perfect game on Sunday from Drew 477 00:27:34,720 --> 00:27:37,960 Speaker 1: Asthmas and last night used five different pictures for nothing, 478 00:27:38,040 --> 00:27:40,399 Speaker 1: went at the stadium a second straight start for Garret 479 00:27:40,440 --> 00:27:43,160 Speaker 1: Cole where he got no run support and those two 480 00:27:43,200 --> 00:27:45,600 Speaker 1: starts only allowed one run, but has no wins to 481 00:27:45,640 --> 00:27:49,000 Speaker 1: show for it. Tampa Bay Bucks have signed veteran defensive 482 00:27:49,080 --> 00:27:52,119 Speaker 1: lineman Carl Nassev. They had him once before. He's the 483 00:27:52,160 --> 00:27:54,000 Speaker 1: one who a year ago, while a member of the Raiders, 484 00:27:54,119 --> 00:27:57,000 Speaker 1: came out as the NFL's first opened the gay player. 485 00:27:57,040 --> 00:27:59,520 Speaker 1: There was a report that Kevin Durant would retire before 486 00:27:59,600 --> 00:28:01,720 Speaker 1: playing the in for the net KD posted on social 487 00:28:01,800 --> 00:28:04,600 Speaker 1: media not true. He has said wants to be traded 488 00:28:04,640 --> 00:28:06,840 Speaker 1: if the nets don't fire. Both coach Steve Nash and 489 00:28:06,920 --> 00:28:11,160 Speaker 1: GM Sean Marks, John Stas Bloomberg Sports John all right, John, 490 00:28:11,240 --> 00:28:13,119 Speaker 1: thanks a lot. It is not six thirty seven on 491 00:28:13,200 --> 00:28:15,720 Speaker 1: Wall Street. Time to look at stocks some of the 492 00:28:15,800 --> 00:28:18,119 Speaker 1: names that are moving in the pre market. And for 493 00:28:18,280 --> 00:28:22,760 Speaker 1: that we are joined by Bloomberg's Tatiana, darry A and Tatiana. 494 00:28:22,840 --> 00:28:26,359 Speaker 1: We had earnings from Home Depot and people are still 495 00:28:26,440 --> 00:28:31,280 Speaker 1: buying two by four as I guess, yes, how deep 496 00:28:31,320 --> 00:28:34,440 Speaker 1: a big mover this morning, down about two point seven 497 00:28:34,520 --> 00:28:37,960 Speaker 1: percent now after earnings and really the details for the 498 00:28:38,040 --> 00:28:42,080 Speaker 1: quarter looked good. Comparable sales growth, net sales EPs all 499 00:28:42,160 --> 00:28:46,160 Speaker 1: beating estimates. But perhaps investors they're disappointed a little bit 500 00:28:46,240 --> 00:28:48,640 Speaker 1: that the company didn't raise its full year guidance. It 501 00:28:48,760 --> 00:28:54,280 Speaker 1: reconfirmed guidance also the twenty three outlook, and that you know, 502 00:28:54,440 --> 00:28:57,640 Speaker 1: particularly those jitters as the slowdown in home sales and 503 00:28:57,680 --> 00:29:01,560 Speaker 1: the broader economies and looming headwind for the entire industry 504 00:29:01,680 --> 00:29:05,480 Speaker 1: and not just Home Depot. But another interesting nugget was 505 00:29:05,560 --> 00:29:09,000 Speaker 1: the company said the average customer ticket was ninety dollars 506 00:29:09,040 --> 00:29:11,800 Speaker 1: in the quarter. That's an increase of nine percent a 507 00:29:12,080 --> 00:29:14,680 Speaker 1: year over year, but it's unclear if this is a 508 00:29:14,760 --> 00:29:17,760 Speaker 1: factor of price increases or if customers are spending more 509 00:29:18,040 --> 00:29:21,280 Speaker 1: because the number of customer transactions fell at three percent. 510 00:29:21,760 --> 00:29:24,360 Speaker 1: So we'll be looking on the call to hear more details. 511 00:29:24,400 --> 00:29:27,400 Speaker 1: But those are the two metrics that analysts and investors 512 00:29:27,480 --> 00:29:30,960 Speaker 1: are looking to see how inflation is impacting shopping behavior. 513 00:29:31,080 --> 00:29:34,040 Speaker 1: And of course this comes ahead of Walmart earnings that 514 00:29:34,080 --> 00:29:36,200 Speaker 1: will tell us a lot more about the health of 515 00:29:36,280 --> 00:29:39,160 Speaker 1: the U S consumer just in a few minutes from now. Okay, 516 00:29:39,240 --> 00:29:42,360 Speaker 1: get back to the office. Let's let's start meeting in person. 517 00:29:42,760 --> 00:29:48,240 Speaker 1: Um pandemic, Darling, Zoom, what's happening there? Yeah, the return 518 00:29:48,320 --> 00:29:51,160 Speaker 1: to office is not very good for Zoom Communications at 519 00:29:51,240 --> 00:29:53,920 Speaker 1: that stock is downe about three percent this morning after 520 00:29:54,040 --> 00:29:56,600 Speaker 1: City downgraded the stock to sell. So this is the 521 00:29:56,680 --> 00:30:01,840 Speaker 1: first actual celerating for the DOC shares you know are 522 00:30:01,960 --> 00:30:05,320 Speaker 1: taking a beating, of course, but they also remain deep 523 00:30:05,360 --> 00:30:07,680 Speaker 1: in the red year to date, and our only training 524 00:30:07,720 --> 00:30:10,120 Speaker 1: at about one fifth of a percent of what they 525 00:30:10,160 --> 00:30:12,120 Speaker 1: were at the height of the pandemic. I mean, the 526 00:30:12,200 --> 00:30:15,080 Speaker 1: crux of the downgrade is the growth issue. Right as 527 00:30:15,120 --> 00:30:17,720 Speaker 1: people are are going back to the office there's growing 528 00:30:17,800 --> 00:30:22,320 Speaker 1: competition from services like Microsoft Teams and other macro related 529 00:30:22,360 --> 00:30:25,360 Speaker 1: pressures that the tech giants have talked about. So all 530 00:30:25,480 --> 00:30:28,320 Speaker 1: these issues you know, are looming over Zoom. They also 531 00:30:28,400 --> 00:30:30,680 Speaker 1: have a phone business that they're trying to ramp up, 532 00:30:31,000 --> 00:30:34,320 Speaker 1: but City is saying that is also, you know, facing 533 00:30:34,440 --> 00:30:39,120 Speaker 1: rising competition and increasing turn rates. So the analysts they 534 00:30:39,160 --> 00:30:41,719 Speaker 1: are not very sure that's gonna make a big difference 535 00:30:41,760 --> 00:30:44,720 Speaker 1: for Zoom. So for now, the stock remains lower in 536 00:30:44,760 --> 00:30:47,720 Speaker 1: the pre market and lower by about thirty eight percent 537 00:30:47,840 --> 00:30:52,360 Speaker 1: here today. Okay, wells waiting for the number one retailer 538 00:30:52,440 --> 00:30:57,760 Speaker 1: Walmart for its earnings. Bloomberg's Tatiana Darry, appreciate it. Thanks 539 00:30:57,800 --> 00:31:00,720 Speaker 1: for joining us looking at stocks as hole right now, 540 00:31:01,280 --> 00:31:04,760 Speaker 1: the future is slightly lower. The smp E many futures 541 00:31:04,800 --> 00:31:08,840 Speaker 1: downline points, NASAIC futures down thirty points, that's down two 542 00:31:08,880 --> 00:31:11,440 Speaker 1: tenths of a percent, and the down futures right now 543 00:31:11,800 --> 00:31:15,440 Speaker 1: are lowered by sixty six points. And you're listening to 544 00:31:15,520 --> 00:31:23,200 Speaker 1: Bloomberg Daybreak and the Bloomberg weather for it today for 545 00:31:23,240 --> 00:31:25,880 Speaker 1: all media Roma just Ron Carolyn Sunshine, the high temperature 546 00:31:25,880 --> 00:31:29,600 Speaker 1: in the mid eighties tonightly partly cloudy six to seventy tomorrow, 547 00:31:29,720 --> 00:31:32,640 Speaker 1: partly the mostly Sunday chance of a few anternet showers, 548 00:31:33,080 --> 00:31:39,800 Speaker 1: the high temperature eight markets, headlines and breaking news twenty 549 00:31:39,840 --> 00:31:42,680 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 550 00:31:42,720 --> 00:31:46,280 Speaker 1: Business Out and at Bloomberg Crick Jake, He's a Bloomberg 551 00:31:46,400 --> 00:31:55,120 Speaker 1: Business Flash and I'm Karen Moscow and we are watching. 552 00:31:55,200 --> 00:31:58,360 Speaker 1: Shares of Home Depot down more than two percent this morning. 553 00:31:58,440 --> 00:32:01,760 Speaker 1: It's revenue growth talk estimates despite a slowdown in US 554 00:32:01,840 --> 00:32:04,520 Speaker 1: home sales and the broader economy. Still it maintained its 555 00:32:04,600 --> 00:32:07,560 Speaker 1: guidance for the rest of its fiscal year. Roger Federer 556 00:32:07,680 --> 00:32:11,040 Speaker 1: back footwearmaker on Holding, raised its full year earnings forecast, 557 00:32:11,120 --> 00:32:13,560 Speaker 1: ever seeing a boom in North American sales and reducing 558 00:32:13,560 --> 00:32:16,840 Speaker 1: a dependence on air freight. US Dock Index futures are 559 00:32:16,920 --> 00:32:20,440 Speaker 1: lower this morning, the dollar rising as investors Frederber signs 560 00:32:20,440 --> 00:32:23,280 Speaker 1: of a sharp economic slowdown even as the Federal Reserve 561 00:32:23,360 --> 00:32:25,760 Speaker 1: stays in the path of monetary tightening. We checked the 562 00:32:25,800 --> 00:32:28,960 Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg, 563 00:32:29,000 --> 00:32:31,200 Speaker 1: gues and p Future is down about ten points down, 564 00:32:31,280 --> 00:32:33,800 Speaker 1: features down seventy four and as DAG features down twenty 565 00:32:33,880 --> 00:32:36,560 Speaker 1: eight the decks in Germany's up sixtents of a percent. 566 00:32:36,880 --> 00:32:39,680 Speaker 1: Ten year treasury little change yeld two point seven eight percent. 567 00:32:39,760 --> 00:32:42,120 Speaker 1: They yield on the two year three point zero percent. 568 00:32:42,560 --> 00:32:45,240 Speaker 1: NIMEX screwed oil is down one percent and in our 569 00:32:45,400 --> 00:32:47,800 Speaker 1: eighty seven cents now at eighty eight dollars, fifty three 570 00:32:47,840 --> 00:32:49,960 Speaker 1: cents of barrel called makes school there is down four 571 00:32:50,000 --> 00:32:53,640 Speaker 1: tens percent or seven dollars eighty cents at seventy announced. 572 00:32:53,920 --> 00:32:56,400 Speaker 1: The Euro one point one to seven against the dollar, 573 00:32:56,440 --> 00:32:58,880 Speaker 1: British bad one point two zero to one, a n 574 00:32:58,920 --> 00:33:02,400 Speaker 1: month thirty four point one four. Bitcoins down at quarter percent. 575 00:33:02,520 --> 00:33:06,320 Speaker 1: It's a eighteen dollars. That's a Bloomberg business flash. Now 576 00:33:06,360 --> 00:33:08,920 Speaker 1: here's Michael Barr with more on what's going on around 577 00:33:08,960 --> 00:33:12,080 Speaker 1: the world. Darren, thank you very much. The Justice Department 578 00:33:12,160 --> 00:33:15,560 Speaker 1: is opposing calls to unseal the AFA. David's supporting the 579 00:33:15,640 --> 00:33:19,120 Speaker 1: search of former President Trump's Tomorrow Lago home. The o 580 00:33:19,280 --> 00:33:22,640 Speaker 1: J has called a grand jury and has witnesses cooperating 581 00:33:22,720 --> 00:33:26,640 Speaker 1: with its probe focused on the mishandling of those sensitive documents. 582 00:33:27,040 --> 00:33:31,280 Speaker 1: Wyoming Congresswoman Liz Cheney, who is leading in the face 583 00:33:31,440 --> 00:33:35,600 Speaker 1: of the January sixth riot investigation, is fighting to save 584 00:33:35,640 --> 00:33:39,160 Speaker 1: hers seat in the House. Today, voters in Alaska as 585 00:33:39,200 --> 00:33:42,080 Speaker 1: well as Wyoming are weighing in on the direction of 586 00:33:42,160 --> 00:33:46,200 Speaker 1: the GOP primaries. In baseball, the slumping Yankees lost to 587 00:33:46,240 --> 00:33:49,680 Speaker 1: the Rays for ZIP. The Braves pounded the Mets thirteen one. 588 00:33:50,080 --> 00:33:54,120 Speaker 1: The Nationals, Orioles and Giants won the a's lost. Global 589 00:33:54,160 --> 00:33:56,520 Speaker 1: news twenty four hours a day on air and on 590 00:33:56,680 --> 00:34:00,560 Speaker 1: Bloomberg Quick Tank, powered by more than journalists, antialists, more 591 00:34:00,560 --> 00:34:04,760 Speaker 1: than countries. Michael Barb, this is Bloomberg. Hearen all right, Michael, 592 00:34:04,800 --> 00:34:07,320 Speaker 1: thank you. It is six forty nine on Wall Street. 593 00:34:07,360 --> 00:34:09,880 Speaker 1: Return to news now in science and technology with the 594 00:34:09,880 --> 00:34:12,440 Speaker 1: Bloomberg n j i T STEM Report, brought to you 595 00:34:12,600 --> 00:34:15,600 Speaker 1: by New Jersey Institute of Technology. N j i T 596 00:34:15,800 --> 00:34:18,880 Speaker 1: makes industry ready engineers and more than twenty fields. If 597 00:34:18,920 --> 00:34:21,640 Speaker 1: it's engineering, it's at n j i T. Learn more 598 00:34:21,719 --> 00:34:24,080 Speaker 1: at n j I T dot E d U. And 599 00:34:24,160 --> 00:34:27,200 Speaker 1: here's let's making news in science, Technology, engineering, and math. 600 00:34:27,560 --> 00:34:30,360 Speaker 1: The CDC has published new guidance on their website for 601 00:34:30,440 --> 00:34:33,680 Speaker 1: Americans who have caught monkey poks among the new recommendations, 602 00:34:33,760 --> 00:34:37,560 Speaker 1: The CDC says people who can't isolate in another household 603 00:34:37,760 --> 00:34:41,239 Speaker 1: should take steps to avoid spreading monkeypoks, like disinfecting door 604 00:34:41,320 --> 00:34:44,800 Speaker 1: knobs and not sharing towels. The agency also has updated 605 00:34:44,840 --> 00:34:47,160 Speaker 1: their list of animals that can catch the virus to 606 00:34:47,320 --> 00:34:51,480 Speaker 1: include dogs after researchers and France reported evidence suggesting a 607 00:34:51,640 --> 00:34:55,399 Speaker 1: pet dog they're caught the virus after sharing a bed 608 00:34:55,880 --> 00:34:59,839 Speaker 1: with their two infected owners. Apple has said September five 609 00:35:00,000 --> 00:35:02,319 Speaker 1: headline for corporate employees to be in the office at 610 00:35:02,360 --> 00:35:04,719 Speaker 1: least three days a week. The tech giant has been 611 00:35:04,760 --> 00:35:07,359 Speaker 1: working toward getting its employees back in the office since 612 00:35:07,360 --> 00:35:11,280 Speaker 1: at least June, when it first announced the three day policy, 613 00:35:11,600 --> 00:35:14,520 Speaker 1: but COVID flare ups forced the company to push back deadlines, 614 00:35:14,600 --> 00:35:17,600 Speaker 1: leaving workers on a two day a week schedule, and 615 00:35:17,680 --> 00:35:21,080 Speaker 1: a partial victory for billionaire Elon Musk against Twitter, a 616 00:35:21,200 --> 00:35:24,080 Speaker 1: judge in Delaware has ordered Twitter to hanover files from 617 00:35:24,120 --> 00:35:27,719 Speaker 1: its former product head on spam and bot accounts. Musk 618 00:35:27,800 --> 00:35:30,160 Speaker 1: has cited those and his attempt to abandon the forty 619 00:35:30,200 --> 00:35:32,960 Speaker 1: four billion dollar purchase of the company, but Twitter does 620 00:35:33,120 --> 00:35:36,000 Speaker 1: not have to produce documents from most of the employees 621 00:35:36,360 --> 00:35:39,680 Speaker 1: that Musk says are key witnesses. That's the Bloomberg and 622 00:35:39,800 --> 00:35:42,759 Speaker 1: j I T Stem Report. John, all right, thanks Karen. 623 00:35:42,840 --> 00:35:45,640 Speaker 1: We we're live from the Bloomberg Into Act to Brooksis Studios, 624 00:35:45,719 --> 00:35:48,400 Speaker 1: where it is now six fifty one the Wall Street 625 00:35:48,440 --> 00:35:51,239 Speaker 1: Time now to check what's going on in d C. 626 00:35:51,719 --> 00:35:53,800 Speaker 1: And some of the top stories in our nation's capital 627 00:35:53,840 --> 00:35:57,480 Speaker 1: include les Channi's pursuit of Donald Trump sets up a 628 00:35:57,840 --> 00:36:02,760 Speaker 1: likely lost today and a springboard primaries today in Wyoming, 629 00:36:03,040 --> 00:36:06,480 Speaker 1: as well as Alaska Justice Department opposing the release of 630 00:36:06,520 --> 00:36:10,520 Speaker 1: the affidavitt in the search of mar Lago former Mayor 631 00:36:10,680 --> 00:36:14,000 Speaker 1: Rudy Giuliani is told he's a target in the Georgia 632 00:36:14,200 --> 00:36:18,240 Speaker 1: election fraud probe, and the US Congress pushing President Biden 633 00:36:18,280 --> 00:36:22,680 Speaker 1: toward a risky confrontation with China. Let's take a deeper 634 00:36:22,719 --> 00:36:24,880 Speaker 1: diaving in these stories this morning with Bloomberg Radio and 635 00:36:24,960 --> 00:36:28,560 Speaker 1: TV Washington correspondent and Marie Hord during you think that's enough, 636 00:36:28,840 --> 00:36:33,680 Speaker 1: and Marie, let's start with the primaries today. I thought, yeah, 637 00:36:33,719 --> 00:36:35,759 Speaker 1: I always thought it was the case too, But no, 638 00:36:36,719 --> 00:36:39,640 Speaker 1: let's start with Liz Cheney. Is she pretty much toast 639 00:36:39,960 --> 00:36:43,800 Speaker 1: today in her home state. Pretty much. That's all but 640 00:36:43,920 --> 00:36:47,160 Speaker 1: certain that she's going to lose to this challenger, Harriet Hagenman, 641 00:36:47,280 --> 00:36:51,600 Speaker 1: which is completely backed by the former president. I think 642 00:36:51,600 --> 00:36:52,920 Speaker 1: it was the New York Times that ran with the 643 00:36:53,000 --> 00:36:56,720 Speaker 1: headline she's really uh in a face off with Trump, 644 00:36:57,280 --> 00:37:00,719 Speaker 1: not not the actual challenger, because that is why she 645 00:37:00,920 --> 00:37:04,120 Speaker 1: is so far behind in the polls. She has a 646 00:37:04,239 --> 00:37:08,000 Speaker 1: very conservative record when voting, but she obviously was a 647 00:37:08,160 --> 00:37:11,120 Speaker 1: major player when it comes to the January six Select 648 00:37:11,440 --> 00:37:15,279 Speaker 1: Select Committee, very outspoken against President Trump, voted for his impeachment. 649 00:37:15,920 --> 00:37:18,080 Speaker 1: And this is a state where I think we need 650 00:37:18,120 --> 00:37:23,360 Speaker 1: to remember the former president won by seventy so it 651 00:37:23,560 --> 00:37:26,440 Speaker 1: is very difficult for her to now over overcome that. 652 00:37:26,640 --> 00:37:29,360 Speaker 1: So what everyone is talking about in the chatter is 653 00:37:29,560 --> 00:37:33,399 Speaker 1: maybe she launches a presidential bid for and that's where 654 00:37:33,760 --> 00:37:36,640 Speaker 1: maybe her eyes are going. Okay, so she's focused on 655 00:37:36,719 --> 00:37:39,200 Speaker 1: the future. I'm also going to assume that the winner 656 00:37:39,280 --> 00:37:42,759 Speaker 1: of the Democratic primary, if there was such a thing, 657 00:37:43,160 --> 00:37:45,439 Speaker 1: that we're not going to mention them because it doesn't matter. 658 00:37:45,680 --> 00:37:48,719 Speaker 1: I mean, he won seventy of the vote, right, It 659 00:37:48,880 --> 00:37:52,920 Speaker 1: just it doesn't matter. That was ten people, by the way, kidding, um, 660 00:37:53,160 --> 00:37:55,400 Speaker 1: let's move on to the next story. The Justice Department 661 00:37:55,840 --> 00:37:59,600 Speaker 1: with the the Affidavid in the search of former President 662 00:38:00,040 --> 00:38:04,160 Speaker 1: Trump's residents mar A Lago. Now there's the um what 663 00:38:04,360 --> 00:38:06,880 Speaker 1: have they released so far and what's the difference between 664 00:38:06,920 --> 00:38:10,000 Speaker 1: this and the the affidavit. So they released the warrant 665 00:38:10,040 --> 00:38:11,680 Speaker 1: in the list of what was collected, so we know 666 00:38:11,760 --> 00:38:17,160 Speaker 1: that there's been eleven sets of confidential even above confidential documents, 667 00:38:17,800 --> 00:38:22,000 Speaker 1: the affidavid really can show you the road map of 668 00:38:22,120 --> 00:38:25,239 Speaker 1: the investigation, which is why the Justice Department is saying 669 00:38:25,400 --> 00:38:27,680 Speaker 1: they oppose the release of this. They say it's highly 670 00:38:27,760 --> 00:38:32,360 Speaker 1: sensitive about witnesses, including witnesses interviewed by the government, and 671 00:38:32,440 --> 00:38:36,040 Speaker 1: they say there is no alternative to sealing that that 672 00:38:36,120 --> 00:38:39,759 Speaker 1: could ensure the integrity of the government's investigation. So this 673 00:38:40,000 --> 00:38:43,160 Speaker 1: likely sets up the failure of that being released right 674 00:38:43,200 --> 00:38:46,200 Speaker 1: which a conservative group asked for that some media organizations 675 00:38:46,200 --> 00:38:49,239 Speaker 1: are seeking the release for that, But ultimately there is 676 00:38:49,320 --> 00:38:51,839 Speaker 1: still a slim chance because the judge who signed off 677 00:38:51,920 --> 00:38:54,200 Speaker 1: on their search warrant being released, which happened last Friday, 678 00:38:54,520 --> 00:38:58,360 Speaker 1: will ultimately decide if the affidavit should be released or not. 679 00:38:58,800 --> 00:39:01,239 Speaker 1: But the Justice Department is saying, even if we redacted 680 00:39:01,680 --> 00:39:05,640 Speaker 1: some of these very sensitive parts of it. You won't 681 00:39:05,640 --> 00:39:08,359 Speaker 1: even understand what the investigation is because that is how 682 00:39:08,440 --> 00:39:11,480 Speaker 1: critical and sensitive it is. So it looks like it's 683 00:39:11,560 --> 00:39:13,880 Speaker 1: not going to happen, but there is still a chance, right, 684 00:39:13,920 --> 00:39:16,400 Speaker 1: because ultimately it's up to the judge. Yeah, and I 685 00:39:16,680 --> 00:39:20,200 Speaker 1: should also point out sort of parenthetically that anybody whose 686 00:39:20,320 --> 00:39:25,200 Speaker 1: name comes up with respect to this, their picture appears 687 00:39:25,719 --> 00:39:29,560 Speaker 1: on conservative media, the judge um some of the FBI 688 00:39:29,719 --> 00:39:34,680 Speaker 1: agents involved, and then they face death threats or even worse. Right, 689 00:39:34,840 --> 00:39:37,279 Speaker 1: And what we know from Fridays that a bulletin was 690 00:39:37,320 --> 00:39:40,800 Speaker 1: sent out to law enforcement officials to individuals at courts 691 00:39:41,000 --> 00:39:43,640 Speaker 1: saying that there is higher risk now of them being 692 00:39:43,719 --> 00:39:46,680 Speaker 1: targeted because they do see some of the victual that 693 00:39:47,080 --> 00:39:51,480 Speaker 1: is percolating on social media. So that's also probably likely 694 00:39:51,680 --> 00:39:54,560 Speaker 1: part of the concern that the judge would take into account. 695 00:39:55,239 --> 00:39:58,480 Speaker 1: And when he was the U S Attorney for the 696 00:39:58,560 --> 00:40:02,840 Speaker 1: Southern District here in Manhattan, Rudy Giuliani was the crime fighter. 697 00:40:03,719 --> 00:40:07,560 Speaker 1: Now he could be facing possible indictment. He's at least 698 00:40:07,600 --> 00:40:10,680 Speaker 1: a target to tell us more, right, So he's not 699 00:40:10,880 --> 00:40:13,360 Speaker 1: just a witnesses what his attorney said he's now a 700 00:40:13,480 --> 00:40:17,200 Speaker 1: target of this probe. Um, and this has to do 701 00:40:17,280 --> 00:40:19,000 Speaker 1: with his work with the former president. He would lead 702 00:40:19,080 --> 00:40:23,360 Speaker 1: lawyer in then President Trump's attempts to overturn the election. 703 00:40:24,040 --> 00:40:27,160 Speaker 1: And we're all here more on Wednesday tomorrow because that 704 00:40:27,440 --> 00:40:31,880 Speaker 1: is when Mr Rudy Juliana will testify before Grand Jewry 705 00:40:32,000 --> 00:40:35,879 Speaker 1: in Atlanta that is investigating these possible efforts to interfere 706 00:40:36,400 --> 00:40:41,440 Speaker 1: with George's vote. Uh So this is all not going away, right, 707 00:40:41,560 --> 00:40:43,160 Speaker 1: and we're going to hear a lot more about it. 708 00:40:43,320 --> 00:40:46,439 Speaker 1: But this probe that was started in Georgia really came 709 00:40:46,480 --> 00:40:49,600 Speaker 1: in part by a phone call that Trump had made 710 00:40:49,719 --> 00:40:53,719 Speaker 1: to the state's top election official, Brad Rathfinsburger, that he 711 00:40:53,840 --> 00:40:56,719 Speaker 1: needed to find enough votes to flip the count in 712 00:40:56,760 --> 00:41:00,120 Speaker 1: his favor. And that's really what they're after. Um. Can 713 00:41:00,160 --> 00:41:03,480 Speaker 1: we finish up real quick about a minute with with 714 00:41:03,800 --> 00:41:09,200 Speaker 1: confrontation with China as more congressional delegations visit Taiwan, right, 715 00:41:09,239 --> 00:41:11,279 Speaker 1: So Ed Markey finishing up a trip there. He had 716 00:41:11,280 --> 00:41:15,279 Speaker 1: a two day trip Sunday and Monday, and you know 717 00:41:15,480 --> 00:41:19,080 Speaker 1: Congress members go to Taiwan. This has happened before. There's 718 00:41:19,080 --> 00:41:22,279 Speaker 1: a lot of highlight This trip is highlighted because it's 719 00:41:22,280 --> 00:41:25,040 Speaker 1: on the heels of less than two weeks ago. Speaker Pelosi, 720 00:41:25,120 --> 00:41:27,240 Speaker 1: which doesn't always happen to Speaker of the House, hasn't 721 00:41:27,239 --> 00:41:30,040 Speaker 1: happened in a quarter century, made this trip, and obviously 722 00:41:30,120 --> 00:41:33,920 Speaker 1: we all saw it happen with China UH sanctions cutting 723 00:41:33,920 --> 00:41:36,160 Speaker 1: off some talks with the United States, as well as 724 00:41:36,200 --> 00:41:39,320 Speaker 1: these live fire drills. So now there's this weird moment 725 00:41:39,400 --> 00:41:42,560 Speaker 1: between the Biden administration who does not want to get 726 00:41:42,560 --> 00:41:44,359 Speaker 1: into a conflict of China, but at the same time 727 00:41:44,440 --> 00:41:48,839 Speaker 1: Congress is pushing a little much more hawkish legislation. They're 728 00:41:48,880 --> 00:41:52,279 Speaker 1: looking at one UH piece of legislation that they want 729 00:41:52,320 --> 00:41:54,279 Speaker 1: to include in the Taiwan Policy Act and that would 730 00:41:54,280 --> 00:41:57,280 Speaker 1: officially recognize the island as a major non NATO ally 731 00:41:57,760 --> 00:42:02,239 Speaker 1: also give more about five billion dollars defense assistants. This 732 00:42:02,400 --> 00:42:05,480 Speaker 1: will be tricky for the Biden administration. A Marie, We're 733 00:42:05,520 --> 00:42:07,520 Speaker 1: gonna leave it there. Thanks very much, good to talk 734 00:42:07,560 --> 00:42:10,640 Speaker 1: to you as always, and you can read more about 735 00:42:10,680 --> 00:42:13,040 Speaker 1: these stories on Bloomberg dot com with the Bloomberg term 736 00:42:13,040 --> 00:42:15,160 Speaker 1: will reminder, you can follow all the latest on Bloomberg 737 00:42:15,320 --> 00:42:18,360 Speaker 1: Radio and watching a Bloomberg one of five point seven 738 00:42:18,600 --> 00:42:22,640 Speaker 1: FM h D two are Bloomberg Radio and TV Washington 739 00:42:22,719 --> 00:42:25,960 Speaker 1: correspondent and Marie for Dern ahead of the open on 740 00:42:26,160 --> 00:42:29,040 Speaker 1: Wall Street, Well, we're still waiting for earnings this morning 741 00:42:29,160 --> 00:42:32,839 Speaker 1: from the number one retailer Walmart. Down futures right now 742 00:42:32,960 --> 00:42:37,680 Speaker 1: sixty six points lower, SMP EVENI futures, they're down nine points, 743 00:42:37,840 --> 00:42:41,759 Speaker 1: and the Nasdaq futures are twenty four points lower. Just 744 00:42:41,960 --> 00:42:45,840 Speaker 1: to have Bloomberg surveillance or Karen Moscow. I'm John Tucker, 745 00:42:45,960 --> 00:42:48,040 Speaker 1: and you've been listening to Bloomberg Daybreak