1 00:00:01,800 --> 00:00:05,240 Speaker 1: By from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:05,320 --> 00:00:08,520 Speaker 1: day Break for a Friday, August twelve two. Coming up 3 00:00:08,560 --> 00:00:11,720 Speaker 1: this hour, Nuclear documents were reportedly at the center of 4 00:00:11,720 --> 00:00:14,680 Speaker 1: the FBI search of Donald Trump's Florida home. Now, the 5 00:00:14,720 --> 00:00:17,319 Speaker 1: former president calls for the release of the warrant used 6 00:00:17,320 --> 00:00:19,759 Speaker 1: in a search. Joe Biden is said to be preparing 7 00:00:19,800 --> 00:00:21,959 Speaker 1: to launch a re election there, And we speak to 8 00:00:21,960 --> 00:00:25,040 Speaker 1: San Francisco Fat President married Daily on the Central Banks. 9 00:00:25,120 --> 00:00:27,960 Speaker 1: Next move, calls resumed to get rid of horse drawn 10 00:00:28,040 --> 00:00:31,400 Speaker 1: carriages in New York City. Plus investigators are looking into 11 00:00:31,440 --> 00:00:34,440 Speaker 1: a man who tried to breach in Ohio FBI office. 12 00:00:34,640 --> 00:00:37,479 Speaker 1: I'm Michael Barr. More ahead, I'm John Stas shown sports 13 00:00:37,520 --> 00:00:40,320 Speaker 1: The Giants one, the preseason opener at New England, The Jets, 14 00:00:40,360 --> 00:00:45,320 Speaker 1: Matt and NIKEE. He's all played tonight. That's all trended 15 00:00:45,360 --> 00:00:49,280 Speaker 1: ahead on Bloomberg Daybreak on Bloomberg Elebern Free on New York, 16 00:00:49,479 --> 00:00:54,160 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 17 00:00:54,440 --> 00:00:59,200 Speaker 1: Bloomberg nine sixties and Francisco Sirius XM one nineteen and 18 00:00:59,280 --> 00:01:02,319 Speaker 1: around the world on Bloomberg Radio. Dot Com and via 19 00:01:02,400 --> 00:01:09,440 Speaker 1: the Bloomberg Business app. Good morning, I'm Nathan Hagar and 20 00:01:09,520 --> 00:01:12,399 Speaker 1: I'm Karen Moscow. Futures are higher this morning. We are 21 00:01:12,400 --> 00:01:14,080 Speaker 1: coming up to six o one on Wall Street. I'm 22 00:01:14,080 --> 00:01:16,880 Speaker 1: gonna check the markets every fifteen minutes throughout the trading day. 23 00:01:16,959 --> 00:01:19,560 Speaker 1: On Bloomberg. Guess and P futures have twenty three points 24 00:01:19,600 --> 00:01:22,560 Speaker 1: down futures have one hundred sixty three and nasday futures 25 00:01:22,600 --> 00:01:24,880 Speaker 1: have eighty one and the ten year treasury up to 26 00:01:25,040 --> 00:01:27,840 Speaker 1: thirty seconds yield two point eight seven percent. They yield 27 00:01:27,880 --> 00:01:30,639 Speaker 1: on the two year three point two zero percent. Nathan 28 00:01:30,800 --> 00:01:32,680 Speaker 1: Karen will have more on markets in a minute, but 29 00:01:32,760 --> 00:01:35,120 Speaker 1: first we're learning more about what the FBI was looking 30 00:01:35,160 --> 00:01:37,840 Speaker 1: for when it executed a search warrant at the Florida 31 00:01:37,920 --> 00:01:41,679 Speaker 1: home of former President Donald Trump. Amy Morris has details 32 00:01:41,680 --> 00:01:46,480 Speaker 1: from our Bloomberg newsroom in Washington. Reportedly, among the items 33 00:01:46,520 --> 00:01:50,680 Speaker 1: classified documents related to nuclear weapons. The Washington Post reports 34 00:01:50,840 --> 00:01:53,760 Speaker 1: it isn't clear if the information involved weapons belonging to 35 00:01:53,800 --> 00:01:56,600 Speaker 1: the United States or some other nation, and we don't 36 00:01:56,640 --> 00:01:59,160 Speaker 1: know yet if those documents were recovered in the search. 37 00:01:59,360 --> 00:02:02,360 Speaker 1: Attorney to Roll Merritt Garland announced the Department of Justice 38 00:02:02,400 --> 00:02:05,160 Speaker 1: has filed a motion to unseal the search warrant and 39 00:02:05,200 --> 00:02:08,680 Speaker 1: that more information is coming. The Department filed the motion 40 00:02:09,320 --> 00:02:12,080 Speaker 1: to make public the warrant and receipt in light of 41 00:02:12,120 --> 00:02:16,919 Speaker 1: the former president's public confirmation of the search, the surrounding circumstances, 42 00:02:17,480 --> 00:02:20,919 Speaker 1: and the substantial public interest in this matter, and the 43 00:02:21,000 --> 00:02:24,080 Speaker 1: judge immediately ordered d o J to consult with Trump's 44 00:02:24,120 --> 00:02:26,720 Speaker 1: legal team and notify the court within twenty four hours 45 00:02:26,720 --> 00:02:29,720 Speaker 1: about whether they would oppose the request laid last night, 46 00:02:29,760 --> 00:02:33,040 Speaker 1: former President Trump said on social media he agreed that 47 00:02:33,080 --> 00:02:35,720 Speaker 1: the search warrant and the list of items taken should 48 00:02:35,760 --> 00:02:39,160 Speaker 1: be made public in Washington. I'm Amy Moore as Bloomberg Daybreak. 49 00:02:39,280 --> 00:02:41,720 Speaker 1: All right, Amy, thank you over getting more reaction to 50 00:02:41,760 --> 00:02:45,440 Speaker 1: Attorney General Garland's request to unseal the warrant, and Cardosos 51 00:02:45,440 --> 00:02:48,800 Speaker 1: School of Law professor Jessica Roth says former President Trump 52 00:02:49,200 --> 00:02:53,160 Speaker 1: could release the documents himself. The former president has confirmed 53 00:02:53,200 --> 00:02:57,000 Speaker 1: publicly that a search was executed on his property, ums, 54 00:02:57,120 --> 00:02:59,919 Speaker 1: essentially eliminating one of the primary reasons why search war 55 00:03:00,040 --> 00:03:02,880 Speaker 1: and remain under skill at destructure, which is to protect 56 00:03:02,919 --> 00:03:06,800 Speaker 1: the privacy of those who were searched Herdoza Law professor 57 00:03:06,880 --> 00:03:09,920 Speaker 1: Jessica Roth is a former federal prosecutor in the Southern 58 00:03:09,919 --> 00:03:12,120 Speaker 1: District of New York. She was a guest on Bloomberg 59 00:03:12,240 --> 00:03:15,680 Speaker 1: Sound on her weekdays at five pm Eastern on Bloomberg Radio. Well, 60 00:03:15,720 --> 00:03:18,600 Speaker 1: another major political story we're watching this morning, Karen. Bloomberg 61 00:03:18,600 --> 00:03:21,200 Speaker 1: News has learned that President Biden is preparing to launch 62 00:03:21,280 --> 00:03:24,920 Speaker 1: his re election campaign in the months after November's midterm elections. 63 00:03:25,200 --> 00:03:27,919 Speaker 1: Those close to the president describe him as upbeat about 64 00:03:27,919 --> 00:03:31,679 Speaker 1: recent legislative, economic, and foreign policy victories. The poles show 65 00:03:31,720 --> 00:03:35,440 Speaker 1: most Democrats would rather have a candidate other than Biden. Well, Nathan, 66 00:03:35,480 --> 00:03:37,720 Speaker 1: We also have new developments this morning on the battle 67 00:03:37,760 --> 00:03:40,880 Speaker 1: against the pandemic. The CDC is loosening guidance for people 68 00:03:40,880 --> 00:03:44,280 Speaker 1: exposed to COVID nineteen now. Bloomberg's Bacheter has the story, 69 00:03:44,640 --> 00:03:47,640 Speaker 1: this is the latest loosening of CDC policies that says 70 00:03:47,680 --> 00:03:51,320 Speaker 1: there is no longer a recommendation to quarantine after exposure 71 00:03:51,680 --> 00:03:54,320 Speaker 1: and says it more closely aligns with what people are 72 00:03:54,320 --> 00:03:58,600 Speaker 1: doing anyway. It says will benefit school classrooms and the 73 00:03:58,680 --> 00:04:02,400 Speaker 1: children themselves. It does say those people should wear masks 74 00:04:02,480 --> 00:04:06,480 Speaker 1: indoors while monitoring for symptoms, and it also says people 75 00:04:06,560 --> 00:04:11,280 Speaker 1: with COVID symptoms should end isolation on the sixth day 76 00:04:11,440 --> 00:04:14,640 Speaker 1: or later. In San Francisco, I'm at Baxter Bloomberg Gay 77 00:04:14,680 --> 00:04:16,920 Speaker 1: break all right, and thank you. Turning back to markets now, 78 00:04:16,960 --> 00:04:19,120 Speaker 1: futures are higher as we close out a trading week 79 00:04:19,160 --> 00:04:22,200 Speaker 1: that's been highlighted by inflation data. Stocks have rallied since 80 00:04:22,240 --> 00:04:24,760 Speaker 1: their mid June low, and the SMP five hundred is 81 00:04:24,800 --> 00:04:27,680 Speaker 1: now trading near a three month high. JP Morgan Chief 82 00:04:27,720 --> 00:04:31,040 Speaker 1: Global strategist David Kelly says stocks could rebound two records 83 00:04:31,160 --> 00:04:33,520 Speaker 1: in the next few years. Look at what the record 84 00:04:33,640 --> 00:04:35,640 Speaker 1: high would be. Look at the percentage game you're talking 85 00:04:35,680 --> 00:04:39,120 Speaker 1: about here. So if you need to go up, if 86 00:04:39,160 --> 00:04:41,080 Speaker 1: it takes you a year to do that, that's a 87 00:04:41,080 --> 00:04:42,640 Speaker 1: great game. If it takes you two years to do 88 00:04:42,680 --> 00:04:44,720 Speaker 1: that with dividends, that's still a great If it takes 89 00:04:44,720 --> 00:04:47,599 Speaker 1: you three years, you're still making good money. So only 90 00:04:47,720 --> 00:04:49,760 Speaker 1: in order to be a bull on stocks, only have 91 00:04:49,800 --> 00:04:51,839 Speaker 1: to believe is that you'll get there within say the 92 00:04:51,880 --> 00:04:54,840 Speaker 1: next three years. JP Morgan's David Kelly says he would 93 00:04:54,839 --> 00:04:57,880 Speaker 1: be fully invested in equities right now. Well, despite the 94 00:04:57,960 --> 00:05:01,320 Speaker 1: cooler inflation ratings we've seen this week, Nathan, a discussion 95 00:05:01,360 --> 00:05:04,599 Speaker 1: continues and how aggressive the FED will be. In San Francisco, 96 00:05:04,640 --> 00:05:07,720 Speaker 1: FED President Mary Daley says she's flexible when it comes 97 00:05:07,760 --> 00:05:11,200 Speaker 1: to future policy. I have a baseline case going into 98 00:05:11,200 --> 00:05:14,240 Speaker 1: September that is fifty basis points. That's where I've been 99 00:05:14,279 --> 00:05:17,839 Speaker 1: since the last meeting. But I have an open mind 100 00:05:17,920 --> 00:05:20,520 Speaker 1: about whether seventy is going to be necessary, and a 101 00:05:20,520 --> 00:05:23,600 Speaker 1: lot of that will depend on the labor market, inflation 102 00:05:23,960 --> 00:05:27,360 Speaker 1: and whether we start to we see those things slow 103 00:05:27,560 --> 00:05:30,960 Speaker 1: enough to say, Wow, we've got the momentum need. San 104 00:05:30,960 --> 00:05:33,600 Speaker 1: Francisco FED President Mary Daily may the comments in an 105 00:05:33,600 --> 00:05:36,880 Speaker 1: interview with Bloomberg's Cantling Heyes, sketch more of that conversation 106 00:05:37,000 --> 00:05:39,640 Speaker 1: coming up shortly on Bloombergy daybreak. Well. In corporate news 107 00:05:39,720 --> 00:05:41,960 Speaker 1: this morning, Karen, we have Apple in focus. We're told 108 00:05:41,960 --> 00:05:44,960 Speaker 1: the company expects to sustain iPhone sales this year even 109 00:05:44,960 --> 00:05:48,279 Speaker 1: as the market slows. More from Bloomberg's Charlie Pellett, Apple 110 00:05:48,480 --> 00:05:51,560 Speaker 1: is asking suppliers to build at least as many of 111 00:05:51,600 --> 00:05:56,120 Speaker 1: its next generation iPhones this year's in one counting on 112 00:05:56,160 --> 00:06:01,839 Speaker 1: an affluent clientele and dwindling competition to whether global electronics downturn. 113 00:06:02,320 --> 00:06:05,880 Speaker 1: Sources tell Bloomberg but tech Giant is telling its assemblers 114 00:06:05,920 --> 00:06:09,600 Speaker 1: to make ninety million of its newest devices on par 115 00:06:09,720 --> 00:06:14,520 Speaker 1: with last year, despite deteriorating projections for the smartphone market. 116 00:06:14,800 --> 00:06:17,920 Speaker 1: In New York, Charlie Pellett Bloomberg Daybreak, A right, Arnie, 117 00:06:17,960 --> 00:06:19,800 Speaker 1: thank you All shares of Alumina or on the move 118 00:06:19,880 --> 00:06:23,200 Speaker 1: this morning. The DNA sequencing giants stock is plunging down 119 00:06:23,240 --> 00:06:26,960 Speaker 1: fifteen percent in the pre market, as Bloomberg's Doug Kriisner reports, 120 00:06:27,000 --> 00:06:30,599 Speaker 1: the company cut its full year earnings forecast. Illumina blamed 121 00:06:30,640 --> 00:06:34,320 Speaker 1: the reduction on potential penalties in Europe over its acquisition 122 00:06:34,520 --> 00:06:37,680 Speaker 1: of cancer test provider Grail. The last month of two 123 00:06:37,680 --> 00:06:41,479 Speaker 1: companies were warned of hefty fines after EU regulators said 124 00:06:41,520 --> 00:06:45,560 Speaker 1: the merger was implemented before regulators reviewed the deal. Illumina 125 00:06:45,640 --> 00:06:48,159 Speaker 1: now says adjusted earnings will be in the range of 126 00:06:48,360 --> 00:06:51,640 Speaker 1: two dollars seventy five cents to two nineties share. It's 127 00:06:51,680 --> 00:06:55,279 Speaker 1: earlier forecast was between four dollars and four twenty In 128 00:06:55,320 --> 00:06:58,279 Speaker 1: New York, I'm Doug Krisner Bloomberg Daybreak. Okay, Doug, thank you. 129 00:06:58,320 --> 00:07:00,400 Speaker 1: Bloomberg Daybreak is brought to you by b n y 130 00:07:00,440 --> 00:07:03,560 Speaker 1: Melon's Pershing Learned why the world's most sophisticated wealth management 131 00:07:03,600 --> 00:07:07,400 Speaker 1: and institutional firms rely on Pershing to help them improve profitability, 132 00:07:07,640 --> 00:07:12,160 Speaker 1: create efficiency, attract talent, and manage risk. At pershing dot com, 133 00:07:12,520 --> 00:07:15,280 Speaker 1: future is moving higher and straight ahead. We have your 134 00:07:15,320 --> 00:07:19,840 Speaker 1: latest local headlines, plus a check of sports. This is Bloomberg. 135 00:07:23,120 --> 00:07:25,119 Speaker 1: Sounds like so seven on Wall Street where it's seventy 136 00:07:25,120 --> 00:07:28,160 Speaker 1: two degrees in Central Park. Gotta crash southbound seventeen year 137 00:07:28,200 --> 00:07:31,480 Speaker 1: Williams Street. We'll get to the details in traffic shortly. First, 138 00:07:31,760 --> 00:07:33,720 Speaker 1: Michael Barker's here with more on what's going on in 139 00:07:33,720 --> 00:07:36,000 Speaker 1: New York and around the world. Good morning, Michael, Good 140 00:07:36,000 --> 00:07:39,080 Speaker 1: morning Nathan. Authorities are investigating whether in our men who 141 00:07:39,160 --> 00:07:42,760 Speaker 1: try to breach the FBI Cincinnati office had ties to 142 00:07:42,920 --> 00:07:46,920 Speaker 1: far right groups. He fled and was shot died hours 143 00:07:47,000 --> 00:07:50,800 Speaker 1: later in a rural standoff with law enforcement. Ohio State 144 00:07:50,880 --> 00:07:54,960 Speaker 1: Highway Patrol spokesman Lieutenant Nathan Dennis. Throughout the day today, 145 00:07:55,480 --> 00:08:01,400 Speaker 1: UM law enforcement officers accepted to negotiate with the suspect 146 00:08:01,920 --> 00:08:05,720 Speaker 1: State Highway Patrol Lieutenant Nathan Dennis. The FBI is warning 147 00:08:05,720 --> 00:08:08,680 Speaker 1: its agents to take extra precautions amid an increase in 148 00:08:08,760 --> 00:08:13,280 Speaker 1: social media threats following Monday's search at former President Trump's home. 149 00:08:13,680 --> 00:08:17,000 Speaker 1: The suspect is identified as forty two year old Ricky Schiffer. 150 00:08:17,560 --> 00:08:20,960 Speaker 1: Activists rallied at City Hall to demand New York City 151 00:08:21,320 --> 00:08:24,800 Speaker 1: banned the use of horse drawn carriages. After a horse 152 00:08:24,880 --> 00:08:28,480 Speaker 1: collapsed in Hell's Kitchen Wednesday evening, the NYPD used water 153 00:08:28,560 --> 00:08:32,160 Speaker 1: hoses to try to cool down the horse. Demonstrators support 154 00:08:32,160 --> 00:08:35,040 Speaker 1: a bill the New York City Council is currently considering 155 00:08:35,320 --> 00:08:39,000 Speaker 1: to replace the horses with electric carriages. About two hundred 156 00:08:39,000 --> 00:08:41,720 Speaker 1: potential jurors for the trial of a man charged with 157 00:08:41,880 --> 00:08:44,640 Speaker 1: killing eight people on a New York City bike path 158 00:08:45,000 --> 00:08:49,160 Speaker 1: in a terror attack filled out questionnaires. Eventually twelve jurors 159 00:08:49,160 --> 00:08:52,640 Speaker 1: and six alternates will be chosen for the October eleventh 160 00:08:52,679 --> 00:08:56,439 Speaker 1: trial of say full of Sipov and Manhattan's Federal Court. 161 00:08:56,800 --> 00:09:01,520 Speaker 1: Saipov was charged in the seventeen attack after prosecutors say 162 00:09:01,559 --> 00:09:04,600 Speaker 1: he used a truck that hit numerous pedestrians along the 163 00:09:04,640 --> 00:09:08,760 Speaker 1: West Side Highway. UK officials say children under nine years 164 00:09:08,800 --> 00:09:11,680 Speaker 1: of age could be eligible for a booster dose to 165 00:09:11,800 --> 00:09:15,360 Speaker 1: fight polio soon. It comes as officials in Rockland County, 166 00:09:15,400 --> 00:09:19,079 Speaker 1: New York, are investigating the country's first polio case identified 167 00:09:19,160 --> 00:09:22,520 Speaker 1: in decades, leading to some concerns that polio could be 168 00:09:22,520 --> 00:09:26,400 Speaker 1: coming back in the US. Dr Amy Arrington, who specializes 169 00:09:26,440 --> 00:09:29,599 Speaker 1: in global biological preparedness in Texas, says that all the 170 00:09:29,640 --> 00:09:34,040 Speaker 1: best protection against polio remains childhood vaccination. Americans can take 171 00:09:34,040 --> 00:09:36,760 Speaker 1: other precautions to lower their risk as well. The key 172 00:09:36,800 --> 00:09:41,120 Speaker 1: to that is really, you know, good hand hygiene, being alert, 173 00:09:41,160 --> 00:09:44,079 Speaker 1: and surveillance, surveillance like we've done and like they've done 174 00:09:44,120 --> 00:09:47,800 Speaker 1: in New York to catch this case, but primarily keeping 175 00:09:47,840 --> 00:09:51,439 Speaker 1: up with your your polio boosters and your your vaccine 176 00:09:51,520 --> 00:09:55,240 Speaker 1: schedule as a child. Dr Arrington spoke to ABC Global 177 00:09:55,280 --> 00:09:57,720 Speaker 1: News twenty four hours a day on airrand on Bloomberg 178 00:09:57,760 --> 00:09:59,920 Speaker 1: Quick Take powered by more than twenty seven hundred journal 179 00:10:00,040 --> 00:10:02,480 Speaker 1: to analysts more than a hundred twenty countries. Michael bar 180 00:10:02,600 --> 00:10:09,760 Speaker 1: this is Bloomberg Naked. Thanks Michael. Almost six ten on 181 00:10:09,800 --> 00:10:12,080 Speaker 1: Wall Street Time for the Bloomberg Sports Update with John 182 00:10:12,120 --> 00:10:15,240 Speaker 1: Stats show, all right, Nathan putballs back Giants and Patriots 183 00:10:15,240 --> 00:10:17,640 Speaker 1: in New England. The game had six league changes and 184 00:10:17,679 --> 00:10:19,760 Speaker 1: the Giants on a Graham Gino field role of third 185 00:10:19,800 --> 00:10:22,840 Speaker 1: of the night one. Daniel Jones played the first quarter 186 00:10:23,200 --> 00:10:26,400 Speaker 1: six to ten sixty nine yards, then replaced by Tyrod Taylor, 187 00:10:26,440 --> 00:10:29,000 Speaker 1: and one thing is certain, the Giants are much improved 188 00:10:29,000 --> 00:10:33,439 Speaker 1: at backup quarterback. Giants fans, unfortunately remember the team struggles 189 00:10:33,480 --> 00:10:36,720 Speaker 1: after Jones's injury last year. Taylor has started over fifty 190 00:10:36,800 --> 00:10:38,880 Speaker 1: NFL games. He was thirteen and twenty one with the touchdown. 191 00:10:38,920 --> 00:10:41,560 Speaker 1: Giants had four hundred and eighteen yards of offense hundred 192 00:10:41,679 --> 00:10:43,880 Speaker 1: seventy seven on the ground. Their news coach Brian day 193 00:10:43,920 --> 00:10:46,280 Speaker 1: Ball was asked how it went on the sidelines. The 194 00:10:46,320 --> 00:10:48,400 Speaker 1: coaches did a good job in their respected I think 195 00:10:48,400 --> 00:10:50,840 Speaker 1: Wake had his staff really organized. Calf that did a 196 00:10:50,840 --> 00:10:53,880 Speaker 1: really good job. I think he communicated well throughout the game. Again, 197 00:10:53,880 --> 00:10:57,679 Speaker 1: we're not making a ton of adjustments here, and um, 198 00:10:57,720 --> 00:10:59,559 Speaker 1: you know I was. I was pleased with that. Again, 199 00:10:59,640 --> 00:11:02,520 Speaker 1: please of the substitutions. I mean, it's our first step 200 00:11:04,080 --> 00:11:05,880 Speaker 1: and I'm pleased with the way they competed. The Jets 201 00:11:05,920 --> 00:11:08,520 Speaker 1: played tonight in Philadelphia. Jets just out of the veteran 202 00:11:08,520 --> 00:11:11,839 Speaker 1: tackle Dwyane Brown is a five time pro bowler about 203 00:11:11,880 --> 00:11:14,719 Speaker 1: to turn thirty seven. Jets just lost tackle McKay beck 204 00:11:14,760 --> 00:11:18,200 Speaker 1: into a season nd knee and jury. Baseball Dyersville, Iowa. 205 00:11:18,320 --> 00:11:21,000 Speaker 1: Great setting for the fields of dreams game. Cubs beat 206 00:11:21,000 --> 00:11:23,400 Speaker 1: the Red Sported two the Yankees and Red Sox tonight 207 00:11:23,800 --> 00:11:26,200 Speaker 1: in Boston, where the Socks won last night. But they're 208 00:11:26,240 --> 00:11:29,520 Speaker 1: just thirteen and twenty seven in their last forty games, 209 00:11:29,520 --> 00:11:32,000 Speaker 1: and the slumping Yankees are ten and eighteen and their 210 00:11:32,080 --> 00:11:35,000 Speaker 1: last twenty eight. And with Houston's win yesterday, the Yankees 211 00:11:35,040 --> 00:11:37,080 Speaker 1: no longer have the best record in American League. They 212 00:11:37,080 --> 00:11:39,000 Speaker 1: also don't have the best record in New York. That 213 00:11:39,120 --> 00:11:41,400 Speaker 1: belongs to the Red Hot met two Tonight hosts the Phillies. 214 00:11:41,480 --> 00:11:43,319 Speaker 1: Next Jows run them out the NBA and asked the 215 00:11:43,480 --> 00:11:45,959 Speaker 1: entire league will retire the number six one by the 216 00:11:46,040 --> 00:11:49,920 Speaker 1: late Bill Russell. John stash Award Bloomberg's court, Nacol all right, John, 217 00:11:49,960 --> 00:11:53,160 Speaker 1: thanks SMP futures up eighteen points, Stown futures up on 218 00:11:53,240 --> 00:11:56,120 Speaker 1: under twenty seven, and Nezdeck futures are highed by sixty 219 00:11:56,160 --> 00:11:59,600 Speaker 1: two points. The tenure treasury is up three thirty seconds, 220 00:11:59,640 --> 00:12:07,760 Speaker 1: the yield two point eight seven. This is Bloomberg Bloomberg 221 00:12:07,760 --> 00:12:12,080 Speaker 1: eleven three oh weather expecting sunshine low eighties today, sunshine 222 00:12:12,120 --> 00:12:17,320 Speaker 1: low eighties tomorrow, sunshine low eighties Sunday right now seventy 223 00:12:17,360 --> 00:12:24,600 Speaker 1: two and Central Park Markets headlines and breaking news twenty 224 00:12:24,600 --> 00:12:27,439 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 225 00:12:27,480 --> 00:12:31,480 Speaker 1: Business Out and at Bloomberg Quick Takes a Bloomberg Business 226 00:12:31,559 --> 00:12:40,720 Speaker 1: Flash and I'm Karen Moscow and stalks in US stock 227 00:12:40,760 --> 00:12:43,920 Speaker 1: index futures on the rise this morning. Investors are assessing 228 00:12:43,920 --> 00:12:46,199 Speaker 1: with their signs of cooling inflation will enable to fed 229 00:12:46,280 --> 00:12:49,360 Speaker 1: to pivot a less aggressive interest rate increases. We checked 230 00:12:49,400 --> 00:12:52,240 Speaker 1: the markets every fifteen minutes throughout the trading day on 231 00:12:52,360 --> 00:12:55,320 Speaker 1: Bloomberg Guess and p Future is up seventeen points this morning, 232 00:12:55,360 --> 00:12:58,880 Speaker 1: Down futures up one eleven and NASDAG futures up sixty. 233 00:12:58,960 --> 00:13:01,439 Speaker 1: The decks in Germany a four tenths of a percent 234 00:13:01,760 --> 00:13:04,520 Speaker 1: ten year treasury up four thirty seconds, held two point 235 00:13:04,520 --> 00:13:06,840 Speaker 1: eight seven percent. They yield on the two year three 236 00:13:06,840 --> 00:13:10,199 Speaker 1: point two zero percent. Night Max screwed oil is that 237 00:13:10,240 --> 00:13:13,600 Speaker 1: will change at nine twenty nine cents of barrel comic 238 00:13:13,640 --> 00:13:16,360 Speaker 1: School down three tenths per center, five dollars sixty cents 239 00:13:16,360 --> 00:13:19,360 Speaker 1: at eighteen o one sixty announced, the euro one point 240 00:13:19,559 --> 00:13:21,920 Speaker 1: two nine zero against the dollar British found one point 241 00:13:22,120 --> 00:13:24,240 Speaker 1: one three one and the yen one thirty three point 242 00:13:24,320 --> 00:13:27,920 Speaker 1: six one and bitcoins at nine hundred dollars down one 243 00:13:27,920 --> 00:13:30,800 Speaker 1: point three percent. That's a Bloomberg business flash. Now here's 244 00:13:30,800 --> 00:13:33,200 Speaker 1: Michael Barr with more on what's going on around the world. 245 00:13:33,280 --> 00:13:36,920 Speaker 1: Michael Karen, thank you very much. After the FBI conducted 246 00:13:36,920 --> 00:13:40,719 Speaker 1: a search for classified documents and former President Trump's Florida home, 247 00:13:41,120 --> 00:13:43,839 Speaker 1: the Justice Department is now asking a federal court to 248 00:13:44,000 --> 00:13:47,200 Speaker 1: unseal the Mara Logo search warrant and a list of 249 00:13:47,200 --> 00:13:50,520 Speaker 1: what was seized. Late last nine, the former president issued 250 00:13:50,520 --> 00:13:53,480 Speaker 1: a statement of green to the release. Meanwhile, according to 251 00:13:53,520 --> 00:13:57,040 Speaker 1: the Washington Post, Hit said FBI agents were searching for 252 00:13:57,120 --> 00:14:01,480 Speaker 1: classified documents related to nuclear web papens. A spokesperson for 253 00:14:01,520 --> 00:14:04,000 Speaker 1: an Ash says the actor is on life support after 254 00:14:04,040 --> 00:14:06,360 Speaker 1: suffering a brain injury and a fiery crash a week 255 00:14:06,400 --> 00:14:09,800 Speaker 1: ago in Los Angeles and is not expected to survive. 256 00:14:10,200 --> 00:14:12,960 Speaker 1: In baseball, the Red Sox beat the Orioles for three 257 00:14:13,240 --> 00:14:17,480 Speaker 1: Thursday Night preseason football. The Giants beat the Patriots one. 258 00:14:17,760 --> 00:14:22,160 Speaker 1: The Ravens beat the Titans. Global News twenty four hours 259 00:14:22,160 --> 00:14:25,240 Speaker 1: a day on here and on Bloomberg Quick Take, powered 260 00:14:25,240 --> 00:14:28,320 Speaker 1: by more than twenty seven hundred journalists and analysts in 261 00:14:28,440 --> 00:14:31,720 Speaker 1: more than one hundred twenty countries. Michael Barr and this 262 00:14:32,000 --> 00:14:35,160 Speaker 1: is Bloomberg Nincan. Thanks Michael. Six nineteen on Wall Street 263 00:14:35,200 --> 00:14:39,160 Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. 264 00:14:39,160 --> 00:14:41,720 Speaker 1: I'm Nathan Hagar. We want to focus on the FED now. 265 00:14:41,720 --> 00:14:45,240 Speaker 1: In a conversation with San Francisco FED president Mary Daily, 266 00:14:45,560 --> 00:14:48,240 Speaker 1: in an interview with Bloomberg's Kathleen Hayes, sherry On and 267 00:14:48,320 --> 00:14:51,440 Speaker 1: Heidi Stroud, Watts, Daily put attention on the real world 268 00:14:51,520 --> 00:14:55,040 Speaker 1: pain being inflicted by inflation, including those getting hurt the 269 00:14:55,040 --> 00:14:58,359 Speaker 1: most by rising prices, and how it could affect businesses 270 00:14:58,440 --> 00:15:00,840 Speaker 1: in the long term. Let's listen to that part of 271 00:15:00,840 --> 00:15:06,360 Speaker 1: the conversation now. In terms of inequality inflation, everyone feels 272 00:15:06,360 --> 00:15:09,760 Speaker 1: the pain, but people with high incomes feel it a 273 00:15:09,840 --> 00:15:12,320 Speaker 1: lot less than people with less money to spend. That's 274 00:15:12,320 --> 00:15:14,720 Speaker 1: just the way it is. They lower income people feel 275 00:15:14,720 --> 00:15:18,480 Speaker 1: it more. Have you yourself in your life, ever experienced this, 276 00:15:18,480 --> 00:15:22,040 Speaker 1: this pain of the inequality of inflation. Well, sure, and 277 00:15:22,120 --> 00:15:24,040 Speaker 1: you know, anyone who grew up in the in the 278 00:15:24,120 --> 00:15:27,360 Speaker 1: United States and the seventies and early eighties, we know 279 00:15:27,440 --> 00:15:31,320 Speaker 1: what high inflation felt like. And you could experience it 280 00:15:31,400 --> 00:15:33,560 Speaker 1: in various ways depending on what your income was. And 281 00:15:33,600 --> 00:15:38,840 Speaker 1: for me, I remember it very um uniquely I think 282 00:15:38,880 --> 00:15:41,760 Speaker 1: in my own upbringing is that that was the time 283 00:15:42,320 --> 00:15:45,440 Speaker 1: when we had to make real trade offs about putting 284 00:15:45,480 --> 00:15:48,680 Speaker 1: things back not getting them. And what I take from 285 00:15:48,720 --> 00:15:51,800 Speaker 1: that is I see it today and that's the part 286 00:15:51,840 --> 00:15:53,880 Speaker 1: that's really painful. Go to the store. You can walk 287 00:15:53,920 --> 00:15:56,680 Speaker 1: out into any store, any part of your community, and 288 00:15:56,720 --> 00:15:59,280 Speaker 1: you can watch people and you'll see them as they 289 00:15:59,280 --> 00:16:02,640 Speaker 1: approached the aisle, putting things back as they approached the 290 00:16:02,760 --> 00:16:06,000 Speaker 1: checkout because they don't want to face the pain and 291 00:16:06,080 --> 00:16:10,280 Speaker 1: embarrassment of having the checker say, you know, that's not enough, 292 00:16:10,640 --> 00:16:12,560 Speaker 1: or having their their time. You know, they put it 293 00:16:12,600 --> 00:16:15,680 Speaker 1: back there. So what that is is it's an indignity. 294 00:16:15,720 --> 00:16:18,119 Speaker 1: And I think of this as the indignity of inflation. 295 00:16:18,240 --> 00:16:21,200 Speaker 1: It is the place where you're working, you're earning a living, 296 00:16:21,480 --> 00:16:25,160 Speaker 1: you're getting even wage increases and your wage increase, even 297 00:16:25,200 --> 00:16:27,600 Speaker 1: if it feels good, isn't keeping up. So every day 298 00:16:27,600 --> 00:16:30,760 Speaker 1: you're falling behind. You're on this treadmill. And that indignity 299 00:16:30,760 --> 00:16:34,440 Speaker 1: of inflation is what's really cruel about inflation. It hurts 300 00:16:34,600 --> 00:16:37,480 Speaker 1: people who have less, it hurts them more, and it 301 00:16:37,640 --> 00:16:39,600 Speaker 1: has that sense that you're trying as hard as you 302 00:16:39,640 --> 00:16:41,520 Speaker 1: can and you still can't make it. So real basically, 303 00:16:41,640 --> 00:16:45,560 Speaker 1: question equation in terms of the inequality of inflation. Break 304 00:16:45,600 --> 00:16:48,800 Speaker 1: it down a bit for us, Uh, it seems pretty 305 00:16:48,840 --> 00:16:50,480 Speaker 1: obvious that yeah, if you have less money, it's going 306 00:16:50,520 --> 00:16:53,680 Speaker 1: to hurt you more. But in terms of more specifically, 307 00:16:53,760 --> 00:16:57,120 Speaker 1: like what parts of the economy. Who sure? So here's 308 00:16:57,160 --> 00:16:59,520 Speaker 1: an easy way that I like to describe it, and 309 00:16:59,560 --> 00:17:04,119 Speaker 1: it really is true. So think of necessities food, you know, 310 00:17:04,200 --> 00:17:10,040 Speaker 1: gasoline and shelter, so housing, energy, ship, and food. Those 311 00:17:10,080 --> 00:17:13,280 Speaker 1: are the things where prices have been skyrocketing. And if 312 00:17:13,320 --> 00:17:16,320 Speaker 1: you're in the lower part of the income distribution, you 313 00:17:16,440 --> 00:17:20,560 Speaker 1: spend most of your disposable income your paycheck on those 314 00:17:20,560 --> 00:17:23,680 Speaker 1: three items. So your trade offs which are taking place. 315 00:17:23,720 --> 00:17:26,280 Speaker 1: If you're in you know, urban areas and you have 316 00:17:26,440 --> 00:17:29,560 Speaker 1: less low and moderate income communities, you're making tradeoffs that 317 00:17:29,600 --> 00:17:31,840 Speaker 1: are between rent and gas for the car to go 318 00:17:31,920 --> 00:17:35,200 Speaker 1: to work, food and school clothes for your kids when 319 00:17:35,200 --> 00:17:37,119 Speaker 1: they return to school, you know that they are you 320 00:17:37,160 --> 00:17:39,080 Speaker 1: going to get a backpack and lunch box? Are you 321 00:17:39,119 --> 00:17:40,960 Speaker 1: only going to get a backpack? Are you gonna get nothing? 322 00:17:41,280 --> 00:17:44,560 Speaker 1: And those are tradeoffs that you know, really hurt groups. 323 00:17:44,560 --> 00:17:47,800 Speaker 1: And one is remarkable now because you think of the 324 00:17:47,840 --> 00:17:51,480 Speaker 1: average wages growing around you know, five percent, and then 325 00:17:51,520 --> 00:17:53,880 Speaker 1: inflation is growing at eight point by percent. Is we're 326 00:17:53,920 --> 00:17:57,080 Speaker 1: not talking about, you know, just a limited number of 327 00:17:57,119 --> 00:17:59,440 Speaker 1: people in the United States who are having this indignity 328 00:17:59,440 --> 00:18:02,239 Speaker 1: of trade off an inflation. We're talking very far up 329 00:18:02,280 --> 00:18:06,440 Speaker 1: the income distribution. We're talking about Middle America, people who 330 00:18:06,440 --> 00:18:09,680 Speaker 1: are earning a good living, thinking they've made it, and 331 00:18:09,720 --> 00:18:12,520 Speaker 1: they're being chipped away at. So this in dignity spreads 332 00:18:12,880 --> 00:18:16,440 Speaker 1: much wider than I think we really understand, and that's 333 00:18:16,480 --> 00:18:19,159 Speaker 1: the importance of talking about it. That also goes to 334 00:18:19,240 --> 00:18:22,720 Speaker 1: future wealth creation, right, the impossibility of creating wealth and 335 00:18:22,760 --> 00:18:25,560 Speaker 1: an environment. Where As you say these cost related to 336 00:18:25,600 --> 00:18:28,360 Speaker 1: housing all going up, how worried are you about the 337 00:18:28,400 --> 00:18:32,000 Speaker 1: other puzzle piece? Right that if the demand constraint continues 338 00:18:32,040 --> 00:18:34,080 Speaker 1: to play out, companies are going to start laying off. 339 00:18:34,200 --> 00:18:36,600 Speaker 1: We know that it is the lowest skilled, lower paid 340 00:18:36,600 --> 00:18:40,439 Speaker 1: workers that are impacted first. Well, right now, I'm not 341 00:18:40,520 --> 00:18:44,120 Speaker 1: seeing that. Certainly, we do want to focus on how 342 00:18:44,160 --> 00:18:46,159 Speaker 1: this is impacting the labor market, and they spend a 343 00:18:46,160 --> 00:18:48,280 Speaker 1: lot of time looking at that, but I'm not seeing 344 00:18:48,280 --> 00:18:50,320 Speaker 1: that and I'm not hearing that. What I'm hearing is 345 00:18:50,359 --> 00:18:53,040 Speaker 1: that workers have jobs of plentiful right they can go 346 00:18:53,040 --> 00:18:55,040 Speaker 1: out and find jobs, and even when a worker gets 347 00:18:55,080 --> 00:18:59,560 Speaker 1: laid off, they find quickly another job. What they really 348 00:18:59,600 --> 00:19:02,600 Speaker 1: feel is that inflations breaking the back of their well 349 00:19:02,640 --> 00:19:05,760 Speaker 1: being even when they have work. So you know, firms 350 00:19:05,880 --> 00:19:08,520 Speaker 1: want to catch up. They have the dearth of workers. 351 00:19:08,560 --> 00:19:11,080 Speaker 1: They're still trying to fill slots that they've had open 352 00:19:11,160 --> 00:19:14,840 Speaker 1: for months. So I think this rebalancing still leaves the 353 00:19:14,880 --> 00:19:18,199 Speaker 1: economy with jobs. It just brings inflation down and it 354 00:19:18,200 --> 00:19:20,960 Speaker 1: creates a more sustainable economy where people don't have to 355 00:19:21,000 --> 00:19:23,520 Speaker 1: frantically figure out what are they gonna do next month. 356 00:19:23,840 --> 00:19:27,440 Speaker 1: I think just settling the economy down, bringing inflation down, 357 00:19:27,880 --> 00:19:32,960 Speaker 1: restoring some sustainability to growth really helps everyone. And that 358 00:19:33,040 --> 00:19:36,359 Speaker 1: was San Francisco Fed President Mary Daily speaking with Bloomberg's 359 00:19:36,400 --> 00:19:39,560 Speaker 1: Kathleen Hayes, sherry On and Heidi Stroud wats. You can 360 00:19:39,560 --> 00:19:42,640 Speaker 1: catch the full interview on the Bloomberg terminal or at 361 00:19:42,640 --> 00:19:46,639 Speaker 1: Bloomberg dot com. Looking ahead to the market, open futures 362 00:19:46,640 --> 00:19:49,760 Speaker 1: are moving higher on this Friday morning. SMP futures are 363 00:19:49,800 --> 00:19:51,840 Speaker 1: up fifteen points. STAYLE future is a gain of one 364 00:19:52,200 --> 00:19:55,399 Speaker 1: six points, NASAC futures are higher by sixty one points, 365 00:19:55,440 --> 00:19:57,760 Speaker 1: and the tenure treasury is up four thirty seconds. The 366 00:19:57,840 --> 00:20:01,919 Speaker 1: yield two point eight seven per cent. You're listening to 367 00:20:01,960 --> 00:20:09,239 Speaker 1: Bloomberg Daybreak Blover eleven three oh weather. Early clouds give 368 00:20:09,280 --> 00:20:11,480 Speaker 1: way to sunshine today and highs in the low eighties 369 00:20:11,520 --> 00:20:13,639 Speaker 1: will get down to the upper sixties tonight, and the 370 00:20:13,680 --> 00:20:17,919 Speaker 1: weekend calls for sun and low eighties. Right now seventy 371 00:20:17,920 --> 00:20:24,439 Speaker 1: two degrees in Central Park. Broadcasting live from the Bloomberg 372 00:20:24,520 --> 00:20:28,160 Speaker 1: Interactive Broker Studio in New York. Bloomberg E Living freon 373 00:20:28,359 --> 00:20:32,399 Speaker 1: to Washington, d C, Bloomberg on to Boston, Bloomberg one 374 00:20:32,440 --> 00:20:35,600 Speaker 1: O six one to San Francisco, Bloomberg M sixty to 375 00:20:35,720 --> 00:20:38,359 Speaker 1: the country, Sirius XM to the one nine team, and 376 00:20:38,440 --> 00:20:42,760 Speaker 1: around the globe. The Bloomberg Business and Bloomberg Radio dot com. 377 00:20:42,800 --> 00:20:52,200 Speaker 1: This is Bloomberg Daybreak six thirty on Wall Street. Good morning, 378 00:20:52,240 --> 00:20:54,800 Speaker 1: I'm Nathan Hagar and I'm Ferre at Moscow. We are 379 00:20:54,920 --> 00:20:57,760 Speaker 1: just about three hours away from the open of US training. 380 00:20:57,800 --> 00:20:59,439 Speaker 1: It's time for the five things that you need to 381 00:20:59,480 --> 00:21:03,720 Speaker 1: notice your day. Brought to you by Interactive Brokers. Interactive 382 00:21:03,760 --> 00:21:06,720 Speaker 1: Brokers charges Martin loan rates from two point a three 383 00:21:06,720 --> 00:21:09,439 Speaker 1: percent to three point a three percent. Their clients can 384 00:21:09,480 --> 00:21:11,920 Speaker 1: also are an extra income by lending their fully paid 385 00:21:11,920 --> 00:21:14,639 Speaker 1: shares of stock rates Somebody to Change. Learn more at 386 00:21:14,680 --> 00:21:18,640 Speaker 1: ib k R dot com. Slash compare first new details 387 00:21:18,680 --> 00:21:21,920 Speaker 1: about the FBI executing a search warrant at the Florida 388 00:21:22,000 --> 00:21:25,480 Speaker 1: home of former President Trump, according to The Washington Post, 389 00:21:25,520 --> 00:21:28,520 Speaker 1: classifying documents related to nuclear weapons who were among the 390 00:21:28,560 --> 00:21:31,960 Speaker 1: items they were searching for. Attorney General Americ Garland said 391 00:21:31,960 --> 00:21:34,920 Speaker 1: the Department of Justice has filed a motion to unseal 392 00:21:35,000 --> 00:21:38,560 Speaker 1: the search warrant. More information will be made available in 393 00:21:38,600 --> 00:21:43,040 Speaker 1: the appropriate way and that the appropriate time. Attorney General 394 00:21:43,040 --> 00:21:45,840 Speaker 1: Garland is also defending the integrity of his agency, and 395 00:21:46,119 --> 00:21:49,040 Speaker 1: reaction is pouring into the Attorney General's short briefing Karen 396 00:21:49,080 --> 00:21:51,520 Speaker 1: card Does, the School of Law professor Jessica Roth says 397 00:21:51,520 --> 00:21:54,160 Speaker 1: it makes sense to unseal the warrant in this circumstance. 398 00:21:54,480 --> 00:21:57,639 Speaker 1: There's just an enormous public interest in these events, in 399 00:21:57,760 --> 00:22:01,480 Speaker 1: part because of the former president's statements announcing it, as 400 00:22:01,520 --> 00:22:04,480 Speaker 1: subsequent statements, and by the fact that he's the former 401 00:22:04,520 --> 00:22:07,520 Speaker 1: president of the United States. Cardo's The law professor Jessica 402 00:22:07,640 --> 00:22:10,320 Speaker 1: Roth made the comments on Bloomberg Sound on her weekdays 403 00:22:10,359 --> 00:22:13,320 Speaker 1: five p m. Starn on Bloomberg Radio. Well, another political 404 00:22:13,359 --> 00:22:16,280 Speaker 1: story we're following this morning, Nathan. Bloomberg News has learned 405 00:22:16,280 --> 00:22:18,800 Speaker 1: President bind And is preparing to launch his re election 406 00:22:18,880 --> 00:22:22,080 Speaker 1: campaign after November's mid terms and some new developments in 407 00:22:22,080 --> 00:22:25,160 Speaker 1: the battle against COVID Karen. The CDC no longer recommends 408 00:22:25,200 --> 00:22:27,960 Speaker 1: quarantining after exposure to the virus. It says people with 409 00:22:28,000 --> 00:22:30,880 Speaker 1: symptoms should end isolation on the sixth day or later. 410 00:22:31,200 --> 00:22:33,480 Speaker 1: Well to markets now, Nathan, Futures are higher as we 411 00:22:33,560 --> 00:22:36,680 Speaker 1: close out a trading week highlighted by cooling inflation data. 412 00:22:37,000 --> 00:22:40,560 Speaker 1: Shanna or Zik Sissel, founder of ben Ryan Capital Management, 413 00:22:40,560 --> 00:22:43,880 Speaker 1: says she's still not jumping to invest in riskier assets. 414 00:22:44,119 --> 00:22:46,600 Speaker 1: I'm still not willing to dip into some of those 415 00:22:46,640 --> 00:22:49,680 Speaker 1: areas right now. I want to focus on quality companies 416 00:22:50,000 --> 00:22:53,960 Speaker 1: with good long term tail winds, and those names are 417 00:22:53,960 --> 00:22:58,040 Speaker 1: not necessarily those speculative names. And Shanna or Zeke Sisle 418 00:22:58,160 --> 00:23:01,359 Speaker 1: of ben Ryan Capital Management said she expects that FED 419 00:23:01,400 --> 00:23:04,359 Speaker 1: to be hankish well. San Francisco FED President Mary Daily 420 00:23:04,400 --> 00:23:07,359 Speaker 1: says she's flexible when it comes to raising rates at 421 00:23:07,400 --> 00:23:11,199 Speaker 1: the next step of MC meeting the scale FIFT doesn't 422 00:23:11,240 --> 00:23:14,200 Speaker 1: just depend on a data point, even an important one 423 00:23:14,200 --> 00:23:16,200 Speaker 1: like the cp I. I like to say that we're 424 00:23:16,359 --> 00:23:20,159 Speaker 1: data dependent, not data point dependent. San Francisco FED President 425 00:23:20,200 --> 00:23:22,800 Speaker 1: Mary Daily spoke on Bloomberg TV. Catch the full interview 426 00:23:22,840 --> 00:23:25,320 Speaker 1: on Bloomberg dot com or on the Bloomberg terminal. And 427 00:23:25,320 --> 00:23:27,600 Speaker 1: that's the fine things you need to notice start your day. 428 00:23:27,640 --> 00:23:30,600 Speaker 1: Brought to you by Interactive Brokers and straight Ahead your 429 00:23:30,680 --> 00:23:34,520 Speaker 1: latest local headlines plus a check of sports. This is Bloomberg. 430 00:23:38,040 --> 00:23:40,719 Speaker 1: Thanks Karen sixty three on Wall Street seventy two degrees 431 00:23:40,760 --> 00:23:43,080 Speaker 1: in Central Park out of crash, He's found cross Bronx 432 00:23:43,080 --> 00:23:46,159 Speaker 1: at the Bronchover Parkway. More coming up in traffic first, 433 00:23:46,200 --> 00:23:48,000 Speaker 1: Michael Barr is here with what else is going on 434 00:23:48,040 --> 00:23:50,160 Speaker 1: in New York and around the world. Good morning, Michael, 435 00:23:50,240 --> 00:23:53,280 Speaker 1: Good morning Nathan. The man who led law enforcement officers 436 00:23:53,280 --> 00:23:55,600 Speaker 1: on a chase after a failed attempt to breach the 437 00:23:55,640 --> 00:23:59,560 Speaker 1: FBI Cincinnati Field Office was shot after an exchange of 438 00:23:59,600 --> 00:24:04,600 Speaker 1: gun wire. Ohio State Highway Patrol spokesman Lieutenant Nathan Dennis. 439 00:24:04,880 --> 00:24:09,880 Speaker 1: The suspect was um deceased. He succumbed to his injuries 440 00:24:09,920 --> 00:24:14,000 Speaker 1: at the scene, and everything remains under investigation at this time. 441 00:24:14,200 --> 00:24:17,560 Speaker 1: The suspect is identified as forty two year old Ricky Schiffer. 442 00:24:18,000 --> 00:24:21,280 Speaker 1: Demonstrators converged on City Hall yesterday to once again call 443 00:24:21,400 --> 00:24:23,960 Speaker 1: for the end of horse drawn carriages in New York. 444 00:24:24,320 --> 00:24:27,639 Speaker 1: It comes after a horse collapsed in Hell's Kitchen on Wednesday. 445 00:24:27,960 --> 00:24:30,800 Speaker 1: The New York City Council is currently considering to replace 446 00:24:30,800 --> 00:24:35,240 Speaker 1: horse drawn carriages with electronic carriages. About two hundred jurors 447 00:24:35,320 --> 00:24:38,760 Speaker 1: for the trial of a man charged with killing eight 448 00:24:38,800 --> 00:24:40,960 Speaker 1: people on a New York City bike path and a 449 00:24:41,119 --> 00:24:44,440 Speaker 1: terror attack filled out questionnaires and they will be weeded out. 450 00:24:44,920 --> 00:24:47,800 Speaker 1: It's a full oat. Scipov, who has pleaded not guilty, 451 00:24:47,920 --> 00:24:52,040 Speaker 1: was charged in the October seventeen attack after prosecutors sent 452 00:24:52,200 --> 00:24:55,400 Speaker 1: that he used a truck that hit numerous pedestrians along 453 00:24:55,440 --> 00:24:59,600 Speaker 1: the West Side Highway in Indiana. Family, friends and lawmakers 454 00:24:59,640 --> 00:25:04,359 Speaker 1: remember Republican Congresswoman Jackie Willorski. At her funeral yesterday, House 455 00:25:04,440 --> 00:25:07,680 Speaker 1: made Orty leader Kevin McCarthy said both Republican and Democratic 456 00:25:07,720 --> 00:25:11,080 Speaker 1: lawmakers held her in high regard. The praise that she 457 00:25:11,119 --> 00:25:14,600 Speaker 1: would have from both sides is tremendous. Today's world, that's 458 00:25:14,600 --> 00:25:17,760 Speaker 1: a little difficult. Larski was killed along with three other 459 00:25:17,800 --> 00:25:20,439 Speaker 1: people in a head on car crash near South Bend. 460 00:25:20,560 --> 00:25:23,840 Speaker 1: Earlier this month, the UN Security Council held an emergency 461 00:25:23,880 --> 00:25:27,440 Speaker 1: meeting to discuss the ongoing crisis to Europe's largest nuclear 462 00:25:27,480 --> 00:25:31,920 Speaker 1: power plant in Ukraine, which was reportedly struck by Russian missiles. 463 00:25:32,480 --> 00:25:35,919 Speaker 1: US Under Secretary of State for Arms Control and International 464 00:25:35,960 --> 00:25:40,200 Speaker 1: Security Ambassador Bonnie Denise Jenkins urged Russia to return and 465 00:25:40,240 --> 00:25:43,280 Speaker 1: control of the plant to Ukraine. We once again call 466 00:25:43,560 --> 00:25:47,760 Speaker 1: on Russia to cease all military operations at or near 467 00:25:47,880 --> 00:25:53,520 Speaker 1: Ukraine's nuclear facilities and insist that Russia immediately returned full 468 00:25:53,560 --> 00:25:58,320 Speaker 1: control of the Zephyretia facility to Ukraine. Ambassador Jenkins says 469 00:25:58,359 --> 00:26:01,680 Speaker 1: Russia alone created the risks. Either a team from New 470 00:26:01,760 --> 00:26:04,080 Speaker 1: York or New Jersey will head to the Little League 471 00:26:04,080 --> 00:26:07,280 Speaker 1: World Series. The twelve year old boys from Massive Equal 472 00:26:07,359 --> 00:26:10,400 Speaker 1: Coast Little League will face the team from Tom's River 473 00:26:10,520 --> 00:26:15,120 Speaker 1: East in today's Metro Region Championship game in Bristol, Connecticut. 474 00:26:15,280 --> 00:26:17,800 Speaker 1: Global News twenty four hours a day on here and 475 00:26:17,960 --> 00:26:20,560 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 476 00:26:20,600 --> 00:26:22,959 Speaker 1: hundred journalists and analysts from more than a hundred twenty countries. 477 00:26:23,040 --> 00:26:26,000 Speaker 1: How Michael bar this is Bloomberg, Nathan, everybody gets a 478 00:26:26,040 --> 00:26:33,199 Speaker 1: home team. Thank you, Michael. Just about six thirty six 479 00:26:33,280 --> 00:26:35,159 Speaker 1: on Wall Street and John Stashar has got more in 480 00:26:35,160 --> 00:26:38,119 Speaker 1: the Bloomberg Sports Update. All right, Nathan. Giants took the 481 00:26:38,160 --> 00:26:39,960 Speaker 1: field for the first time in the new coach Brian 482 00:26:40,160 --> 00:26:42,320 Speaker 1: dave All in New England, where dave All was once 483 00:26:42,320 --> 00:26:45,000 Speaker 1: an assistant under Bill Belichick, who was once a Giants 484 00:26:45,040 --> 00:26:48,080 Speaker 1: assistant table of course, replaced Joe Judge and he's now 485 00:26:48,119 --> 00:26:50,680 Speaker 1: back in New England his second skin as a pay 486 00:26:50,720 --> 00:26:54,320 Speaker 1: Striots assistant. Kay that's six league changes the Giants onwenty one. 487 00:26:54,320 --> 00:26:56,800 Speaker 1: On the last second Graham Guno field goal that's had 488 00:26:56,800 --> 00:26:59,600 Speaker 1: four hundred eighteen yards of offense a hundred seventy seven 489 00:26:59,600 --> 00:27:02,440 Speaker 1: on the ground, but it's only in pre season Jets 490 00:27:02,480 --> 00:27:05,560 Speaker 1: in Philadelphia tonight, with the season ending knee injury to 491 00:27:05,640 --> 00:27:09,240 Speaker 1: tackle McKay Beckton, the Jets signed veteran tackle Dwayne Brown, 492 00:27:09,359 --> 00:27:12,359 Speaker 1: five time Pro Bowler while with Seattle and Houston. Tom 493 00:27:12,400 --> 00:27:15,120 Speaker 1: Brady has left the Bucks to attend to a personal 494 00:27:15,200 --> 00:27:17,800 Speaker 1: matter and he won't be practicing with Tampa Bay all 495 00:27:17,840 --> 00:27:21,160 Speaker 1: of the next week. Feel the Dreams game Dyersville, Iowa. 496 00:27:21,280 --> 00:27:23,159 Speaker 1: Yankees and White Sox did it last year. It was 497 00:27:23,200 --> 00:27:25,560 Speaker 1: the Cubs and Reds last night, and Joey Vatto felt 498 00:27:25,560 --> 00:27:30,199 Speaker 1: the a little like Kevin Costner for me watching the movie, Um, 499 00:27:30,359 --> 00:27:32,920 Speaker 1: you know is something my father and I shared, and uh, 500 00:27:32,960 --> 00:27:35,399 Speaker 1: it's something I would give anything for. You know, I 501 00:27:35,440 --> 00:27:36,879 Speaker 1: wish he was here. I wish at the very end 502 00:27:36,920 --> 00:27:39,280 Speaker 1: of tonight's game, Uh, he and I could go on 503 00:27:39,320 --> 00:27:41,879 Speaker 1: the field and do something we did from when I 504 00:27:41,920 --> 00:27:45,119 Speaker 1: was eight nine years old, and um, you know it's 505 00:27:45,119 --> 00:27:48,600 Speaker 1: it's it's really eerie how much the movie Alligance with 506 00:27:48,640 --> 00:27:51,280 Speaker 1: my life experiences won the game four to two, Yankees 507 00:27:51,320 --> 00:27:52,840 Speaker 1: just one in five on this road trip, there now 508 00:27:52,920 --> 00:27:55,199 Speaker 1: in Boston, red hot Mets host the Phillies. They just 509 00:27:55,240 --> 00:27:56,960 Speaker 1: had a seven game wins become But then the Fils 510 00:27:57,000 --> 00:28:00,000 Speaker 1: will face the Mets one two punch Max sersor tonight 511 00:28:00,080 --> 00:28:02,639 Speaker 1: Jacob Graham tomorrow method one six in orld fifteen or 512 00:28:02,680 --> 00:28:06,000 Speaker 1: last seventeen. Much like what Baseball did the Jackie Robbinson's 513 00:28:06,080 --> 00:28:09,359 Speaker 1: number forty two, the entire NBA is returning the number 514 00:28:09,400 --> 00:28:11,960 Speaker 1: six one of the late gild Russell. John Stactually, however, 515 00:28:11,960 --> 00:28:14,800 Speaker 1: Bloomberg Sports, all right, John, thank you. It's six thirty 516 00:28:14,840 --> 00:28:16,840 Speaker 1: seven on Wall Street. Time to take a look at stock, 517 00:28:16,920 --> 00:28:18,639 Speaker 1: some of the names moving in the pre market with 518 00:28:18,680 --> 00:28:22,800 Speaker 1: Bloomberg's Laura right. We're seeing futures move higher this morning, Laura, 519 00:28:22,880 --> 00:28:27,520 Speaker 1: but we've got some companies moving lower on disappointing earnings. 520 00:28:28,720 --> 00:28:32,000 Speaker 1: We do. Good morning, Nathan, so Illumina. This is a 521 00:28:32,200 --> 00:28:36,520 Speaker 1: gene sequencing company. It's cut its annual forecast as the 522 00:28:36,600 --> 00:28:40,200 Speaker 1: company phases possible penalties in Europe over its acquisition of 523 00:28:40,240 --> 00:28:44,040 Speaker 1: a cancer test provided Grail. Now you're being regulators said 524 00:28:44,040 --> 00:28:48,800 Speaker 1: they implemented their merger deal before regulators actually reviewed the transaction. 525 00:28:49,360 --> 00:28:51,520 Speaker 1: So Ilumina have come out with a statement they say 526 00:28:51,600 --> 00:28:55,040 Speaker 1: they are facing challenges in a complex macro environment, and 527 00:28:55,040 --> 00:28:57,760 Speaker 1: there's challenges are more than offsetting the growth that they 528 00:28:57,760 --> 00:29:00,960 Speaker 1: continue to see on sequencing with their platforms, are more 529 00:29:00,960 --> 00:29:04,000 Speaker 1: of a regulatory hurdle. Yeah, and it's not the only 530 00:29:04,000 --> 00:29:08,080 Speaker 1: company that's reporting challenges, not necessarily over regulations. But we've 531 00:29:08,120 --> 00:29:14,560 Speaker 1: also got some disappointing earnings news from the electric truckmaker Ribviian. Yeah, 532 00:29:14,560 --> 00:29:18,479 Speaker 1: so although earnings were strong, as you mentioned, Riviants lowered 533 00:29:18,480 --> 00:29:22,360 Speaker 1: their four year earnings expectations because like so many automakers, 534 00:29:22,400 --> 00:29:25,440 Speaker 1: they are struggling to deal with supply chain snags, high 535 00:29:25,480 --> 00:29:29,200 Speaker 1: cost economic uncertainty. So they are now protecting a full 536 00:29:29,280 --> 00:29:32,240 Speaker 1: year loss of five and a half billion dollars. Now 537 00:29:32,320 --> 00:29:35,480 Speaker 1: interesting that Ribbian they have a contract with Amazon, the 538 00:29:35,520 --> 00:29:38,240 Speaker 1: Amazon being one of the largest investors in the company, 539 00:29:38,320 --> 00:29:42,600 Speaker 1: to produce one hundred thousand electric vehicle delivery vans by 540 00:29:42,640 --> 00:29:45,720 Speaker 1: the end of this decade. We've seen over the course 541 00:29:45,760 --> 00:29:49,120 Speaker 1: of the pandemic how imperative logistics providers have become, So 542 00:29:49,120 --> 00:29:52,080 Speaker 1: I think that's a really interesting business angle for them. Um, 543 00:29:52,320 --> 00:29:56,160 Speaker 1: But they also haven't diminished their four year delivery target. 544 00:29:56,160 --> 00:29:59,000 Speaker 1: They still think they will produce twenty five thousand electric 545 00:29:59,080 --> 00:30:02,160 Speaker 1: vehicles this year. It but the downgrade on forecast. You know, 546 00:30:02,440 --> 00:30:05,400 Speaker 1: right now the stock is up fractionally ahead of the bell, 547 00:30:05,520 --> 00:30:08,760 Speaker 1: but we may see some moves to the downside. Open 548 00:30:09,120 --> 00:30:11,880 Speaker 1: And I see you're keeping your eye on some Chinese 549 00:30:11,880 --> 00:30:15,320 Speaker 1: shares the trade in the US. What's got your eye there? Yeah, so, 550 00:30:15,360 --> 00:30:17,960 Speaker 1: Ali Baba. The US is at a d R down 551 00:30:18,360 --> 00:30:22,280 Speaker 1: three point one percent at present. So Chinese stocks in 552 00:30:22,320 --> 00:30:25,240 Speaker 1: the US listed in the US are slipping because a 553 00:30:25,320 --> 00:30:29,000 Speaker 1: few of five of China's largest state owned companies have 554 00:30:29,000 --> 00:30:32,840 Speaker 1: announced lends to delist from US exchanges. It includes China 555 00:30:32,920 --> 00:30:36,760 Speaker 1: Life Insurance, Petro China, Sino pack And then this really 556 00:30:36,800 --> 00:30:39,680 Speaker 1: comes down to geopolitics that date back to the Trump 557 00:30:39,680 --> 00:30:42,720 Speaker 1: administration with tariffs back and forth, and that has been 558 00:30:42,800 --> 00:30:46,720 Speaker 1: spiraled into looking more closely at how these companies are audited. 559 00:30:47,000 --> 00:30:49,160 Speaker 1: This has led to a bit of market confusion. We 560 00:30:49,240 --> 00:30:50,920 Speaker 1: knew this was coming, but we thought it would take 561 00:30:50,920 --> 00:30:53,280 Speaker 1: place next year. Yeah, it's a tide that's been building. 562 00:30:53,320 --> 00:30:55,000 Speaker 1: Thanks for this, Lord, great having you on with us 563 00:30:55,080 --> 00:30:58,000 Speaker 1: this week. Bloomberg's Law right, keeping an eye on the 564 00:30:58,040 --> 00:31:00,720 Speaker 1: stocks on the move in the pre market. It as 565 00:31:00,760 --> 00:31:04,120 Speaker 1: we look ahead to the open, futures are higher. SMP 566 00:31:04,280 --> 00:31:07,160 Speaker 1: futures up seventeen points right now. That future is upden 567 00:31:07,600 --> 00:31:11,040 Speaker 1: and the NASTAC futures are higher by sixty four points ten. 568 00:31:11,080 --> 00:31:13,720 Speaker 1: Your treasury is up seven thirty seconds for yield of 569 00:31:13,760 --> 00:31:18,040 Speaker 1: two point eight six. You're listening to Bloomberg Day Break. 570 00:31:18,040 --> 00:31:26,600 Speaker 1: Good morning, Bloomberg eleven three oh weather nice low eighties today, 571 00:31:26,640 --> 00:31:30,720 Speaker 1: tomorrow and Sunday. Looking for sunshine and pleasant temperatures all 572 00:31:30,760 --> 00:31:37,720 Speaker 1: weekend long right now seventy two degrees in Central Park markets, 573 00:31:37,840 --> 00:31:40,920 Speaker 1: headlines and breaking news twenty four hours a day at 574 00:31:40,920 --> 00:31:44,320 Speaker 1: Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg 575 00:31:44,400 --> 00:31:53,560 Speaker 1: Quick Tape. S's a Bloomberg Business Flash and I'm Karen 576 00:31:53,640 --> 00:31:56,680 Speaker 1: Moscow and futures are higher this morning. We go to 577 00:31:56,680 --> 00:31:59,240 Speaker 1: the first word breaking news dash for today's morning call. 578 00:31:59,360 --> 00:32:03,680 Speaker 1: Here's police morants PHO least, Good morning, Good morning, Karen. 579 00:32:03,840 --> 00:32:07,720 Speaker 1: Futures are indeed climbing today, with doubt futures up about 580 00:32:07,720 --> 00:32:10,320 Speaker 1: a hundred and s and P five hundred up fifteen. 581 00:32:10,960 --> 00:32:14,400 Speaker 1: On the economic front, University of Michigan sentiment at ten 582 00:32:14,440 --> 00:32:18,360 Speaker 1: am regarding earnings, Ribvian sales beat, but it's grappling with 583 00:32:18,400 --> 00:32:22,320 Speaker 1: production issues, and Alumina is plunging after cutting its forecast. 584 00:32:22,720 --> 00:32:25,920 Speaker 1: In other news, five of China's state owned giants will 585 00:32:25,960 --> 00:32:30,200 Speaker 1: delist from US exchanges. Live from the First Word Breaking 586 00:32:30,200 --> 00:32:33,640 Speaker 1: News Desk. I'm Police Brants, Karen gran Police, thank you 587 00:32:33,640 --> 00:32:35,760 Speaker 1: and do hear like breaking news over your Bloomberg type 588 00:32:35,760 --> 00:32:39,080 Speaker 1: squawk on your terminal asqu you a wuk, that's a 589 00:32:39,120 --> 00:32:42,440 Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on 590 00:32:42,440 --> 00:32:45,320 Speaker 1: what's going on around the world. Michael, Karen, thank you 591 00:32:45,400 --> 00:32:49,000 Speaker 1: very much. After the FBI conducted a search for classified 592 00:32:49,040 --> 00:32:53,040 Speaker 1: documents and former President Trump's Florida home, the Justice Department 593 00:32:53,080 --> 00:32:55,360 Speaker 1: is now asking a federal court to unseal the marra 594 00:32:55,520 --> 00:32:58,680 Speaker 1: Lago search warrant and a list of what was seized. 595 00:32:58,960 --> 00:33:03,600 Speaker 1: Late last nighter, President issued a statement agreeing to the release. Meanwhile, 596 00:33:03,640 --> 00:33:07,280 Speaker 1: according to The Washington Post, it's said FBI agents were 597 00:33:07,280 --> 00:33:12,280 Speaker 1: searching for classified documents relating to nuclear weapons. In baseball, 598 00:33:12,280 --> 00:33:15,640 Speaker 1: the Red Sox beat the Orioles for three Thursday night 599 00:33:15,720 --> 00:33:20,640 Speaker 1: preseason football, the Giants beat the Patriots one, the Ravens 600 00:33:20,640 --> 00:33:24,640 Speaker 1: beat the Titans. Global News twenty four hours a day 601 00:33:24,680 --> 00:33:27,840 Speaker 1: on air and on Bloomberg Quicktake powered by more than 602 00:33:27,920 --> 00:33:31,280 Speaker 1: twenty seven under journalist and analysts more than twenty countries. 603 00:33:31,560 --> 00:33:34,400 Speaker 1: Michael bar this is Bloomberg Careing Ferry. Michael, thank you 604 00:33:34,440 --> 00:33:36,520 Speaker 1: at A sixty eight on Wall Street and we turned 605 00:33:36,560 --> 00:33:39,240 Speaker 1: to news and science and technology Now at the Bloomberg 606 00:33:39,280 --> 00:33:42,040 Speaker 1: and j I T STEM Report brought to you Buy 607 00:33:42,080 --> 00:33:45,560 Speaker 1: New Jersey Institute of Technology ranked top fifty national public 608 00:33:45,640 --> 00:33:49,040 Speaker 1: university by US News and World Report and top ten 609 00:33:49,040 --> 00:33:51,760 Speaker 1: in the nation for engineering by money dot Com. Learn 610 00:33:51,800 --> 00:33:54,240 Speaker 1: more at n j I T dot e DU and 611 00:33:54,280 --> 00:33:58,160 Speaker 1: here's just making news in science, Technology, engineering and math Today. 612 00:33:58,160 --> 00:34:00,360 Speaker 1: The Rhine River is likely to shrink to a level 613 00:34:00,400 --> 00:34:03,640 Speaker 1: that could disrupt the transport of fuel throughout Europe. Pfct 614 00:34:03,640 --> 00:34:06,760 Speaker 1: scirt ripple through the continent for months. The water level 615 00:34:06,840 --> 00:34:09,640 Speaker 1: at a key way point west of Frankfurt is set 616 00:34:09,640 --> 00:34:12,920 Speaker 1: to go below about sixteen inches and continue dwindling that 617 00:34:13,000 --> 00:34:17,120 Speaker 1: makes it uneconomical for barges carrying coal and oil to 618 00:34:17,200 --> 00:34:20,840 Speaker 1: transit the river. A new study suggests landfills are releasing 619 00:34:20,840 --> 00:34:24,360 Speaker 1: a significant amount of planet warming methane into the atmosphere 620 00:34:24,760 --> 00:34:29,319 Speaker 1: from the decomposition of waste scientists use satellite data from 621 00:34:29,400 --> 00:34:33,440 Speaker 1: four major cities around the world Delhi and Mumbai in Indiana, 622 00:34:33,480 --> 00:34:37,000 Speaker 1: Hore in Pakistan, and Buenos Aires and Argentina, and found 623 00:34:37,080 --> 00:34:40,439 Speaker 1: that city level emissions in twenty eighteen and ten were 624 00:34:40,480 --> 00:34:43,160 Speaker 1: one point forward to two point six times higher than 625 00:34:43,239 --> 00:34:47,160 Speaker 1: earlier estimates. The study was published in Science Advances, and 626 00:34:47,280 --> 00:34:50,120 Speaker 1: Apple has as suppliers to build at least as many 627 00:34:50,160 --> 00:34:53,719 Speaker 1: of its next generation iPhones this year has in one 628 00:34:54,040 --> 00:34:56,680 Speaker 1: Bloomberg News has learned that Apple wants ninety million of 629 00:34:56,719 --> 00:34:59,960 Speaker 1: the devices, about the same as last year. That's despite project, 630 00:35:00,239 --> 00:35:03,239 Speaker 1: So that's the smartphone market will shrink. Apples counting on 631 00:35:03,280 --> 00:35:07,280 Speaker 1: an affluent client, talent dwindling competition to weather the downturn 632 00:35:07,560 --> 00:35:10,080 Speaker 1: and s to Bloomberg and j I t Stem report 633 00:35:10,200 --> 00:35:13,000 Speaker 1: Nathan Karen, Thank you. We are live from the Bloomberg 634 00:35:13,040 --> 00:35:16,040 Speaker 1: Interactive Brokers studios where it is six fifty on Wall 635 00:35:16,080 --> 00:35:18,320 Speaker 1: Street Time Now to check what's going on in d C, 636 00:35:18,560 --> 00:35:20,719 Speaker 1: where some of the top stories include reports at the 637 00:35:20,760 --> 00:35:24,520 Speaker 1: FBI search former President Donald Trump's home for nuclear documents, 638 00:35:24,800 --> 00:35:27,280 Speaker 1: the former president calling for the release of the search 639 00:35:27,320 --> 00:35:30,480 Speaker 1: warrant after Attorney General Garland said he's made that request 640 00:35:31,080 --> 00:35:35,080 Speaker 1: and President Biden priming his reelection run to stop Trump 641 00:35:35,440 --> 00:35:38,440 Speaker 1: despite doubts within his own party. Let's bring back Bloomberg 642 00:35:38,480 --> 00:35:42,280 Speaker 1: government reporter Emily Wilkins for more on all these stories. Emily, 643 00:35:42,440 --> 00:35:45,960 Speaker 1: what is the latest that we've heard about just what 644 00:35:46,120 --> 00:35:49,120 Speaker 1: the FBI was looking for at marl Lago. So we 645 00:35:49,200 --> 00:35:51,960 Speaker 1: have reports from the Washington Post this morning that the 646 00:35:52,000 --> 00:35:55,400 Speaker 1: FBI was looking for documents related to nuclear weapons. And 647 00:35:55,440 --> 00:35:57,200 Speaker 1: we don't have a ton of details on this yet. 648 00:35:57,480 --> 00:35:59,720 Speaker 1: It's not clear if they were about US nuclear weapons, 649 00:35:59,719 --> 00:36:02,600 Speaker 1: whats that belonged to other countries. It's not even clear 650 00:36:02,600 --> 00:36:05,120 Speaker 1: if the documents that they were looking for were among 651 00:36:05,200 --> 00:36:08,680 Speaker 1: the documents sees. But Nathan, let's be clear, this is 652 00:36:08,719 --> 00:36:12,319 Speaker 1: a huge deal. The New York Times has reported that 653 00:36:12,440 --> 00:36:15,800 Speaker 1: this is a material that's part of a special access program, 654 00:36:15,880 --> 00:36:19,800 Speaker 1: that's a designation even more classified than top secret. It 655 00:36:19,920 --> 00:36:24,200 Speaker 1: is extremely sensitive. It is definitely related to national security 656 00:36:24,280 --> 00:36:27,600 Speaker 1: if it's about nuclear weapons, um, and there is I 657 00:36:27,640 --> 00:36:30,279 Speaker 1: think a big weight and see feeling right now in 658 00:36:30,400 --> 00:36:33,480 Speaker 1: d C. Everyone wants to see what's going to happen 659 00:36:34,160 --> 00:36:37,600 Speaker 1: when this warrant is unsealed. When they unseal a list 660 00:36:37,719 --> 00:36:42,200 Speaker 1: of what was taken from mar Lago in this search? Um, 661 00:36:42,239 --> 00:36:44,399 Speaker 1: And I think that's just the big question. We saw 662 00:36:44,960 --> 00:36:47,760 Speaker 1: former President Trump last night say that he would encourage 663 00:36:47,840 --> 00:36:51,400 Speaker 1: the warrant to be unsealed, just as Merrick Garland, Um, 664 00:36:51,440 --> 00:36:55,040 Speaker 1: the current acting current Attorney General, called for yesterday that 665 00:36:55,080 --> 00:36:57,680 Speaker 1: could come as soon as today. And I think that's 666 00:36:57,719 --> 00:37:01,000 Speaker 1: just it's just a waiting game now. And it's interesting 667 00:37:01,040 --> 00:37:04,080 Speaker 1: to hear the former president saying he does encourage the 668 00:37:04,200 --> 00:37:08,080 Speaker 1: release of the warrant, given that if it does rise 669 00:37:08,120 --> 00:37:12,160 Speaker 1: to this level classified material related to nuclear documents, this 670 00:37:12,200 --> 00:37:17,320 Speaker 1: could put the former president in some serious legal jeopardy. Yeah. Again, Nathan, 671 00:37:17,400 --> 00:37:20,319 Speaker 1: it's it's a huge question that everyone has, you know, 672 00:37:20,520 --> 00:37:23,960 Speaker 1: sort of why why does Trump want to see this released? 673 00:37:24,480 --> 00:37:26,239 Speaker 1: Is he just saying that? I Mean the other kind 674 00:37:26,239 --> 00:37:29,680 Speaker 1: of interesting little wrinkle here is that if Trump wanted 675 00:37:29,719 --> 00:37:32,520 Speaker 1: the warrant out there, he could just put it out there. 676 00:37:32,600 --> 00:37:35,320 Speaker 1: He's got it. He can just you know, release it when, 677 00:37:35,360 --> 00:37:37,239 Speaker 1: as you know, as he needs. I mean, he was 678 00:37:37,280 --> 00:37:39,600 Speaker 1: the one, after all, Um, even though there were a 679 00:37:39,640 --> 00:37:42,920 Speaker 1: couple of early reports that there might have been a 680 00:37:42,960 --> 00:37:45,600 Speaker 1: search on Marlar mar Lago, Trump was really the one 681 00:37:45,640 --> 00:37:48,040 Speaker 1: who confirmed that kind of coming out with the details 682 00:37:48,160 --> 00:37:50,759 Speaker 1: of of what had happened. UM. I think there's just 683 00:37:50,800 --> 00:37:53,040 Speaker 1: a lot of question marks here, and you're even seeing 684 00:37:53,200 --> 00:37:56,880 Speaker 1: Washington respond to this. Republicans really haven't seen a lot 685 00:37:56,960 --> 00:38:00,319 Speaker 1: of big statements from them since Attorney General America Land's 686 00:38:00,320 --> 00:38:03,480 Speaker 1: announcement yesterday. UM, A sort of about what what they're 687 00:38:03,520 --> 00:38:06,439 Speaker 1: thinking and how they're going to go forward. I think 688 00:38:06,480 --> 00:38:09,200 Speaker 1: they too are waiting to see exactly what is in 689 00:38:09,200 --> 00:38:12,600 Speaker 1: this warrant it doesn't deal with nuclear weapons, and if so, 690 00:38:12,719 --> 00:38:15,040 Speaker 1: what are the contents. But of course there was a 691 00:38:15,080 --> 00:38:19,280 Speaker 1: lot of a pressure, certainly political pressure around the Justice 692 00:38:19,320 --> 00:38:22,000 Speaker 1: Department ahead of this announcement, a lot of threats made 693 00:38:22,120 --> 00:38:25,560 Speaker 1: against the FBI agents. Is that sort of what spurred 694 00:38:25,920 --> 00:38:28,239 Speaker 1: the Attorney General to go up to the podium and 695 00:38:28,280 --> 00:38:31,880 Speaker 1: make this sort of extraordinary announcement about a search warrant? 696 00:38:31,920 --> 00:38:36,760 Speaker 1: Something you don't really see the Justice Department do, Absolutely, Nathan, 697 00:38:36,840 --> 00:38:39,400 Speaker 1: I think that's a really valid question. I actually asked 698 00:38:39,400 --> 00:38:42,719 Speaker 1: the legal expert yesterday on Bloomberg's sound On program, which 699 00:38:42,719 --> 00:38:45,880 Speaker 1: you can listen back to to the podcast of today. UM. 700 00:38:45,920 --> 00:38:48,840 Speaker 1: But what she said was basically that she did not 701 00:38:49,000 --> 00:38:52,440 Speaker 1: think that this was a result of political pressure, that 702 00:38:52,560 --> 00:38:56,160 Speaker 1: this was an actual result of the Justice Department recognizing 703 00:38:56,280 --> 00:38:59,759 Speaker 1: that more transparency was needed for this particular case, that 704 00:39:00,080 --> 00:39:03,240 Speaker 1: one that's of interest to the American people. Merrick Garland 705 00:39:03,280 --> 00:39:06,240 Speaker 1: himself noted that it was Trump who released the news 706 00:39:06,480 --> 00:39:09,319 Speaker 1: that this search had taken place at Mara Lago and 707 00:39:09,360 --> 00:39:12,720 Speaker 1: really brought that into the public eye. Um. But Nathan, 708 00:39:12,760 --> 00:39:14,480 Speaker 1: I mean, at the same point, let's I think it's 709 00:39:14,520 --> 00:39:17,040 Speaker 1: a very valid question. There was a ton of political 710 00:39:17,120 --> 00:39:21,240 Speaker 1: pressure on the Justice Department, and when Marrick Garland spoke yesterday, 711 00:39:21,320 --> 00:39:23,640 Speaker 1: he didn't speak for long, he didn't take any questions, 712 00:39:23,640 --> 00:39:27,160 Speaker 1: but he made sure to really defend the FBI and 713 00:39:27,320 --> 00:39:31,680 Speaker 1: FBI asians as working for the American people, really pushing 714 00:39:31,719 --> 00:39:34,480 Speaker 1: back against a lot of that criticism that's been levied 715 00:39:34,520 --> 00:39:38,480 Speaker 1: and that we've actually seen turned into action with the 716 00:39:38,920 --> 00:39:43,440 Speaker 1: individual um who was caught trying to attack the FBI 717 00:39:43,719 --> 00:39:46,560 Speaker 1: headquarters in Cincinnati the other day. Of course, with all 718 00:39:46,640 --> 00:39:50,880 Speaker 1: the attention around the multiple investigations around a former President Trump, 719 00:39:50,920 --> 00:39:54,480 Speaker 1: it's interesting to get another story on the Bloomberg terminal 720 00:39:54,560 --> 00:39:58,359 Speaker 1: this morning that current President Joe Biden is firming up 721 00:39:58,440 --> 00:40:01,640 Speaker 1: his plans to run for re election. Yeah, we knew 722 00:40:01,680 --> 00:40:04,800 Speaker 1: that Biden was planning on running a game for president. 723 00:40:05,080 --> 00:40:07,800 Speaker 1: We're now have reporting on the terminal that he's planning 724 00:40:07,800 --> 00:40:11,400 Speaker 1: to make that announcement after the November elections. UM. And 725 00:40:11,400 --> 00:40:14,240 Speaker 1: this is coming as Biden sort of in this very 726 00:40:14,280 --> 00:40:18,160 Speaker 1: interesting time right now. Right he's had these low approval ratings. 727 00:40:18,160 --> 00:40:21,560 Speaker 1: We've seen polling from late July from c and showing 728 00:40:21,640 --> 00:40:24,760 Speaker 1: that three fourths of his own party wants to see 729 00:40:24,800 --> 00:40:29,480 Speaker 1: someone else run for president. At the same point, Biden's 730 00:40:29,480 --> 00:40:32,040 Speaker 1: really had this sort of banner a couple of weeks. 731 00:40:32,360 --> 00:40:34,640 Speaker 1: He's gotten a lot of legislation passed, He's been able 732 00:40:34,680 --> 00:40:37,560 Speaker 1: to claim a lot of credit. You saw inflation numbers 733 00:40:37,600 --> 00:40:41,160 Speaker 1: go down UM four July from their high in August. 734 00:40:41,640 --> 00:40:44,360 Speaker 1: So he has a number of recent wins that he 735 00:40:44,440 --> 00:40:47,600 Speaker 1: can work with here. At the same point, there are 736 00:40:47,640 --> 00:40:50,520 Speaker 1: a lot of concerns about Biden's age. I mean, if 737 00:40:50,600 --> 00:40:53,919 Speaker 1: he if he were to run and win in four 738 00:40:54,080 --> 00:40:57,000 Speaker 1: he would be eighty three when he begins his his 739 00:40:57,080 --> 00:41:00,200 Speaker 1: second term. And there's also just a sense that you know, 740 00:41:00,280 --> 00:41:03,240 Speaker 1: for a party that's as h that likes to claim 741 00:41:03,640 --> 00:41:07,120 Speaker 1: diversity as much as the Democratic Party does, to have 742 00:41:07,280 --> 00:41:11,040 Speaker 1: that led by an older white man, it doesn't drive 743 00:41:11,360 --> 00:41:14,160 Speaker 1: with as many with with some of the Democratic voters 744 00:41:14,200 --> 00:41:15,960 Speaker 1: out there who just think that there needs to be 745 00:41:16,000 --> 00:41:18,879 Speaker 1: someone new given all those headwins that we've really seen 746 00:41:18,920 --> 00:41:21,200 Speaker 1: over the last few months. Emily, in our last minute here, 747 00:41:21,239 --> 00:41:24,680 Speaker 1: what's the president doing to sort of rally support around 748 00:41:24,760 --> 00:41:28,560 Speaker 1: him before he makes this expected announcement the next few months. 749 00:41:28,600 --> 00:41:30,920 Speaker 1: So the President is going to be really focused on 750 00:41:31,320 --> 00:41:35,120 Speaker 1: two and making sure that Democrats win the mid terms. 751 00:41:35,280 --> 00:41:38,040 Speaker 1: At this point, it is expected that Republicans will win 752 00:41:38,080 --> 00:41:41,359 Speaker 1: the House come November. They have the historical president, they 753 00:41:41,400 --> 00:41:43,839 Speaker 1: have obviously no inflation. It might have gone down, but 754 00:41:43,880 --> 00:41:46,719 Speaker 1: it's still high. Gas prices They've gone down, but they're 755 00:41:46,760 --> 00:41:49,719 Speaker 1: still high. Um, you know they And it's not like, 756 00:41:49,800 --> 00:41:51,760 Speaker 1: you know, Republicans have to win a ton of seats 757 00:41:51,800 --> 00:41:53,840 Speaker 1: to take the House. They only have to win a 758 00:41:53,920 --> 00:41:56,839 Speaker 1: handful to do so. And so I think a lot 759 00:41:56,880 --> 00:41:59,040 Speaker 1: of what the President's attention is going to be on 760 00:41:59,200 --> 00:42:02,480 Speaker 1: making sure that if that Democrats can win the House, 761 00:42:02,520 --> 00:42:05,160 Speaker 1: and be if they can't win that Republicans only have 762 00:42:05,200 --> 00:42:08,120 Speaker 1: a very very narrow margin to work with. At the 763 00:42:08,160 --> 00:42:11,000 Speaker 1: same point, also making sure he's keeping focused on the Senate, 764 00:42:11,440 --> 00:42:14,520 Speaker 1: that's also a toss up, even though it's you know, 765 00:42:14,600 --> 00:42:17,640 Speaker 1: Democrats have a little bit better chance there of keeping 766 00:42:17,680 --> 00:42:19,960 Speaker 1: the chamber. So I think that's really what we're gonna 767 00:42:20,000 --> 00:42:22,400 Speaker 1: see Biden indeed, to focus on, as well as just 768 00:42:22,440 --> 00:42:24,680 Speaker 1: sort of getting out there the fact that they have 769 00:42:24,760 --> 00:42:27,320 Speaker 1: passed these bills and explaining to them, explained to the 770 00:42:27,360 --> 00:42:30,080 Speaker 1: American people what's in them. So much for a sleepy 771 00:42:30,080 --> 00:42:33,440 Speaker 1: August in Washington, d C. Thanks for this, Bloomberg Government 772 00:42:33,480 --> 00:42:36,239 Speaker 1: reporter Emily Wilkins. Read more Bloomberg dot com or on 773 00:42:36,280 --> 00:42:39,600 Speaker 1: the Bloomberg terminal. Listen to Bloomberg one h five point 774 00:42:39,640 --> 00:42:43,000 Speaker 1: seven FM HD two if you ever than the nation's capital. 775 00:42:43,239 --> 00:42:46,040 Speaker 1: Bloomberg surveillance is up next to a cross Bloomberg radio 776 00:42:46,120 --> 00:42:49,120 Speaker 1: for Karen Moscow. I'm Nathan Hagar. This is Bloomberg.