Speaker 1: Live Bloomberg Interactive Rooker Studios is Bloomberg day Break for
Speaker 1: a Thursday, November seventeen two coming up this hour, Did
Speaker 1: Russia fire a missile into Poland? President Biden says that's
Speaker 1: not the evidence. Now Ukraine is responding. We stick exclusively
Speaker 1: with President Vladimir's Lensky. Republicans take control of the House,
Speaker 1: setting up battles with Democrats on several fronts, and the
Speaker 1: new UK Chancellor of the Exchequer prepares to detail spending
Speaker 1: cuts and tax hikes. New York City wants hire minimum
Speaker 1: pay for app based food delivery workers. Plus former VP
Speaker 1: Penn says Republicans have better choices than Donald Trump for
Speaker 1: the White House. On Michael bar More Ahead, John Stash
Speaker 1: Howard sports the Knicks one in Denver, the local hockey teams,
Speaker 1: Plate Tonight, and Aaron Judge expected to be named today
Speaker 1: m V That's all Trained Ahead on Bloomberg day Break
Speaker 1: on Bloomberg eleven three on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine
Speaker 1: sixties and Francisco Sirius Exam one nine team and around
Speaker 1: the world on Bloomberg Radio, dot Com and bother Bloomberg
Speaker 1: business app Good morning. I'm Nathan Hager and I'm Parrot.
Speaker 1: Moscow and US futures are extending their declines this morning.
Speaker 1: We're coming up to six o one on Wall Street,
Speaker 1: and we checked the markets every fifteen minutes throughout the
Speaker 1: trading day on Bloomberg with SNP Future is down twenty
Speaker 1: one points down, Future is down one sixty five and
Speaker 1: NASDAG futures down sixty five. The decks in Germany now
Speaker 1: little change ten. Your treasury down thirteen thirty seconds. You know,
Speaker 1: three point seven three per cent they yield on the
Speaker 1: two year four point three six percent. Nine max Screwed
Speaker 1: oil is down one point four percent, down a dollar
Speaker 1: nineteen at eighty four dollars forty two cents of barrel
Speaker 1: co makes go down six ten percent or ten dollars
Speaker 1: forty cents at seventeen sixty five forty announced the euro
Speaker 1: one oh three four one against the dollar. Nathan, all right, Karen,
Speaker 1: thank you. We'll get more on the markets in a minute,
Speaker 1: but first we want to bring you the latest on
Speaker 1: the investigation into the missile strike. This week, they killed
Speaker 1: two people in Poland. Ukrainian President vladimir's len Ski has
Speaker 1: insisted that rocket came from Russia. President Biden was asked
Speaker 1: about it this morning. What's your reaction, Presidents, We keep
Speaker 1: saying that the missiles and ranted in Poland. We're not Ukrainian.
Speaker 1: That's not the overli. President Biden, along with Poland and
Speaker 1: NATO all say the missile likely came from Ukraine's air defenses,
Speaker 1: but they also say Russia bears ultimate responsibility. Well. Nakan
Speaker 1: President Zelenski is also facing questions about the air strike.
Speaker 1: Bloomberg News editor in chief John Nikel Thwaite spoke with
Speaker 1: the president by a video link at the Bloomberg New
Speaker 1: Economy Forum in Singapore. But I'm sure that this is
Speaker 1: a Russian missile, and I'm sure that we were launching
Speaker 1: the air defense missiles, but we can't say specifically that
Speaker 1: this was the defense of Ukraine. Although we are grateful
Speaker 1: for not being blamed because we are fighting against the
Speaker 1: Russian missiles in our territory. But nevertheless, we have to
Speaker 1: be fair and honest. Until the investigation is over, we
Speaker 1: can't say what kind of missile, what pieces of which
Speaker 1: a missile fell on the Polish terri Tree. Speaking through
Speaker 1: an interpreter, President Vladimir Zelenski, he says Ukraine will go
Speaker 1: to the blast side in Poland as part of the investigation.
Speaker 1: Catch more of our interview with the Ukrainian president from
Speaker 1: the Bloomberg New Economy Forum coming up shortly in our program.
Speaker 1: Well meantime, Karen, future US financial support for Ukraine maybe
Speaker 1: in question now the Republicans have gained control in the
Speaker 1: House of Representatives. Amy Morris has details from our Bloomberg
Speaker 1: newsroom in Washington. It is a power shift in Washington,
Speaker 1: with Republicans winning a narrow House majority. The GOP now
Speaker 1: has subpoena power and control over powerful committees, and that
Speaker 1: has Democrats worried about the future of President Biden's agenda
Speaker 1: and future financial support for Ukraine. Republican lawmakers are set
Speaker 1: to give closer scrutiny to financial support for Ukraine. House
Speaker 1: Minority Leader Kevin McCarthy, who is set to become speaker,
Speaker 1: says Republicans are not going to write a blank check
Speaker 1: while President Biden does have workaround GOP demands will make
Speaker 1: us allies uneasy in Washington. I maybe more as Bloomberg
Speaker 1: Daybreak right. Amy, thank you a Republican control of the
Speaker 1: House may also benefit financial services firms. Next year, the
Speaker 1: GOP will lead the powerful Financial Services Committee, which can
Speaker 1: demand information from the heads of agencies such as the
Speaker 1: SEC and the Consumer Financial Protection Bureau and seek to
Speaker 1: dial up oversight on regulators. And let's say, banks and
Speaker 1: hedge funds could gain from any slow down in SEC
Speaker 1: actions in the UK. This morning, Karen, investors are closely
Speaker 1: watching Chancellor of the Exchequer Jeremy hunt he delivers details
Speaker 1: on the UK's budget today. Let's go to London and
Speaker 1: get the very latest with Bloomberg's Uin Pots. Good morning,
Speaker 1: Good morning, Athan and Karen. Tax rises and government spending
Speaker 1: cuts are coming down the line. Chance that Jeremy Hunts
Speaker 1: will stand up in the British Parliament later this morning.
Speaker 1: It sets out how he plans to make fifty five
Speaker 1: billion pounds of savings. That's the amount needed for the
Speaker 1: government to meet its medium term debt targets. The backdrop
Speaker 1: is UK in inflation at a forty year high, rapidly
Speaker 1: rising interest rates, and forecasts for a recession next year.
Speaker 1: It's a tough hand to play in London. Immune Pot Spin,
Speaker 1: bad day break, all right, You and thank you. Monetary
Speaker 1: policy also in focus in Europe this morning. It looks
Speaker 1: like the European Central Bank may slow down interest rate
Speaker 1: hikes with only a fifty basis point increase next month.
Speaker 1: Sources Hell Bloomberg. That initial talk suggests a lack of
Speaker 1: momentum for another seventy five basis point move. Reasons cited
Speaker 1: are mounting recession risks and a possible weakening of consumer
Speaker 1: price pressures like here in the US Care and another.
Speaker 1: FED officials on board with slowing the pace of federal
Speaker 1: reserve rate hikes. FED Governor Christopher Waller spoken Phoenix yesterday
Speaker 1: looking forward to them December meeting. The data of the
Speaker 1: past few weeks had made me more comfortable considering stepping
Speaker 1: down to a fifty basis point hike, and Christopher Waller
Speaker 1: has been one of the more hawkish members of the FED.
Speaker 1: The Central banks raised its benchmark interest rate by seventy
Speaker 1: five basis points four straight times. Now the latest and
Speaker 1: the collapse of f t X, Nathan former CEO Sam
Speaker 1: Bankman Freed is telling his side of the story, and
Speaker 1: he's doing it through a series of tweets bankmun Freed
Speaker 1: and myths that f t X got overconfident and careless,
Speaker 1: and says he would do his best to save customers cash.
Speaker 1: New management at f t X say Bankman Free does
Speaker 1: not speak on the company's behalf. Speaking of social media,
Speaker 1: Karen the former chairman of Twitter, says Elon Musk could
Speaker 1: be creating room for competitors. Patrick Paschett says it could
Speaker 1: happen if Musk breaks the ethos of the company. Fischett
Speaker 1: told Radio Canada it's too early to tell if Musk
Speaker 1: will be good for Twitter. And now let's take a
Speaker 1: look at some stocks on the move this morning following earning.
Speaker 1: He shares of Cisco up about four percent. That's after
Speaker 1: the computer networking company gave a bullish forecast. Shares of
Speaker 1: in Video also while they're up about two percent. The
Speaker 1: semiconductor maker posting quarterly sales that topped estimates after his
Speaker 1: data center business helped offset sluggish demand for video game ships.
Speaker 1: We also got results from another chip maker. We're getting
Speaker 1: them today, Applied Materials Or report earnings after the closing
Speaker 1: bell Well had of that, Karen, futures are moving lower now.
Speaker 1: We have SMP futures down eighteen points, Staff futures down
Speaker 1: a hundred fifty four and NASTAC futures are lower by
Speaker 1: fifty three points. Tend your treasuries down twelve thirty seconds
Speaker 1: the old three point seven three percent, the yield on
Speaker 1: the two year four point three six percent. Straight ahead
Speaker 1: your latest local headlines and a check off sports. This
Speaker 1: is Bloomberg now six o seven on Wall Street where
Speaker 1: thirty eight degrees in Central Park and we've got a
Speaker 1: jackknife tractor trailer he's found seventy eight Exit eighteen. Details
Speaker 1: coming up in traffic. First Michael bar with more on
Speaker 1: what's going on in New York and around the world. Michael,
Speaker 1: thank you very much. Nathan. New York City is proposing
Speaker 1: a minimum pay rate for app based food delivery workers
Speaker 1: like door Dash or grub Hub. It's a first of
Speaker 1: its kind plan from the city's Department of Consumer and
Speaker 1: Worker Protection. For the sixty thou workers in the city,
Speaker 1: the minimum wage would be almost twenty four hour. Delivery
Speaker 1: app workers don't receive a minimum wage or benefits because
Speaker 1: are classified as independent contractors. Western New York. They're used
Speaker 1: to snow, but more than a month away from the
Speaker 1: official start of winter, Lake effects snow is expected to
Speaker 1: dump more than three feet of the white stuff maybe more.
Speaker 1: A state of emergency is expected to be declared in
Speaker 1: New York this morning as the heaviest snowfall continues from
Speaker 1: now through Friday. In the Buffalo area. Ken Junahwa, the
Speaker 1: regional director for National Grid, Buffalo's utility company, says they're
Speaker 1: on standby for any outages Friday night. We will be
Speaker 1: holding all crews in our company service centers across Western
Speaker 1: New York, and in addition to that, we are bringing
Speaker 1: in outside resources that will be pre positioned in Western
Speaker 1: New York to help us with any power restoration efforts.
Speaker 1: When Buffalo resident took it all in stride, saying she'll
Speaker 1: be making soup, former Vice President Mike Pence did not
Speaker 1: say whether he would support his boss, former President Donald Trump,
Speaker 1: in his re election bid for the White House. Pence
Speaker 1: p assipated in a town hall event on CNN last night,
Speaker 1: I think we'll have better choices, better choices than my
Speaker 1: old running mate. I think America longs to go back
Speaker 1: to the policies that we're working for the American people,
Speaker 1: but I think it's time for new leadership. When asked
Speaker 1: about his own possible presidential bid, Pence said I'll keep
Speaker 1: you posted. A bus carrying twenty eight people seeking asylum
Speaker 1: in the US arrived in Philadelphia from Texas. Philadelphia officials
Speaker 1: expressed frustration with a lack of communication from Texas Governor
Speaker 1: Rabbit about the arriving families. Philadelphia Mayor Jim Kenney says,
Speaker 1: though the migrants are welcome, those who arrived today are
Speaker 1: private individuals simply seeking safety and a place where they
Speaker 1: can build a future. Let's remember that and welcome them
Speaker 1: with grace and respect. Some families are moving on to
Speaker 1: other states, including New York and Connecticut. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quickdake,
Speaker 1: powered by more than hundred journalists and analysts and more
Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan.
Speaker 1: Thanks Michael six o nine on Wall Street Time for
Speaker 1: the Bloomberg Sports Update, brought to you by Tri State
Speaker 1: Howdy Hears John Stashop. All right, Nathan, the next just
Speaker 1: did something they haven't done in sixteen years. They won
Speaker 1: a game in Denver, meet the Nuggets, one of six,
Speaker 1: one oh three, certainly helped by Denver being without its
Speaker 1: m VP center Nicola, Your kitchens in COVID protocol, but
Speaker 1: a big night for Julius Randall. He was playing more
Speaker 1: like he did two years ago than the way he
Speaker 1: played last year when he struggled a bit. Randall a
Speaker 1: season high thirty four points. Jalen Brunson at a twenty
Speaker 1: one and the next or two and oh on the
Speaker 1: road trip. Next stop tomorrow night at Golden State. Warriors
Speaker 1: are defending NBA Champs. Last night they got fifty points
Speaker 1: from Steph Curry but lost in Phoenix. The Warriors are
Speaker 1: six and one at home. They're now o and eight
Speaker 1: on the road. Venett's road trip ends tonight in Portland
Speaker 1: when they come home play Sunday, and the feeling is
Speaker 1: that is when Kyrie Irving might return from his suspension.
Speaker 1: Local hockey teams all on the road tonight. Rangers in Seattle,
Speaker 1: Islanders in Washington, and a red Hot Devil's play in Toronto,
Speaker 1: New Jersey looking to make it a Levin wins in
Speaker 1: a row. College oakes in New Jersey. Seaton Hall lost
Speaker 1: to Iowa by fourteen. Second ranking Zaga lost at Texas
Speaker 1: by nineteen. Week eleven begins tonight Tennessee at Green Bay
Speaker 1: the Packers, coming off that upset win over Dallas that
Speaker 1: ended their five game losing street. Justin Verlander goes from
Speaker 1: Tommy John to Cy Young at age thirty nine, named
Speaker 1: for the third time he had missed most of the
Speaker 1: previous two seasons. Pitched to a one point seven five
Speaker 1: E R A and you spin. He won unanimously, So
Speaker 1: did the Marlin. Sandy l Contro the National League. I'll
Speaker 1: conscers a throwback. He had six complete games after sixty
Speaker 1: two home runs. You'd have to thank Aaron Judge, will
Speaker 1: be able to beat out last year's winner, Showyotani and
Speaker 1: when a l m v P today? And if so,
Speaker 1: he'd be the first Yankee m v P since Alex
Speaker 1: Rodriguez in two thousand nine. John Stash were Boomberg's plays. Okay, John,
Speaker 1: thanks SMP. Futures down down twenty points, Stout features down
Speaker 1: one sixty four, dance at Futures down sixty three points.
Speaker 1: We'll get more on this market straight ahead from liz
Speaker 1: Ane Saunders of Charles Schwab, and we will have more
Speaker 1: from our exclusive interview with the Ukrainian President Vladimir z Lensky.
Speaker 1: This is Bloomberg Bloomberg Sports Report was brought to you
Speaker 1: by Audie. Don't let someone else drive off in the
Speaker 1: Audi model you've always wanted. Visit your local tri state
Speaker 1: Autie dealects you get behind the wheel of yours today,
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Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, of Bloomberg Business Out and at Bloomberg Cricktake.
Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow
Speaker 1: Future is following this morning with SMP futures down twenty
Speaker 1: one points down, futures down a hundred seventy and nasday
Speaker 1: futures down sixty four, the ten year treasury down twelve
Speaker 1: thirty seconds, l three point seven three per cent in
Speaker 1: a yield in the two year four point three six percent,
Speaker 1: and nime X screwed oil down one and a half
Speaker 1: percent at eighty four dollars thirty cents a barrel. That's
Speaker 1: a Bloomberg Business flagh. Now here's Michael barrlickmore on what's
Speaker 1: going on around the world. Karen, thank you very much.
Speaker 1: Republicans have one control of the House by a slim majority.
Speaker 1: It gives conservatives leveraged to slow down President Joe Biden's agenda.
Speaker 1: North Korea has responded to recent US military and diplomatic
Speaker 1: moves with a missile test. The usn South Korean Force
Speaker 1: has conducted a missile defense exercise this morning in the NBA.
Speaker 1: The next one the Celtics. They won their eighth straight.
Speaker 1: The Wizards and Warriors lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty seven hundred journalists and analyston more
Speaker 1: than one hundred twenty countries. Michael Barr and this is Bloomberg, Nathan.
Speaker 1: Thanks Michael. It is six eighteen on Wall Street Live
Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak,
Speaker 1: and we want to bring you more of our conversation
Speaker 1: now with Ukrainian President Vladimir Zelenski. He joined Bloomberg News
Speaker 1: Editor in chief John Michael Flat in a video call
Speaker 1: at the Bloomberg New Economy Forum in Singapore. War President
Speaker 1: Zelenski spoke about the possibility for peace talks with Russia
Speaker 1: and his dreams for his country after the war ends
Speaker 1: in October. That you are potentially open to talks with Russia,
Speaker 1: but not while Vladimir Putin as president. What can we
Speaker 1: talk about Budding is not one person, that these are
Speaker 1: several people, and there's nothing to talk about with these
Speaker 1: several people today. If tomorrow they are prepared to take
Speaker 1: the peace formula, if they are ready to withdraw from
Speaker 1: our territory de occupy Ukraine and acknowledge that this is
Speaker 1: a tragedy and not just a mistake, that this is
Speaker 1: a tragedy of them being aggressors, if they are ready
Speaker 1: to compensate as it is prescribed in the peace formula,
Speaker 1: if they're ready to accept it, only then we call
Speaker 1: can start thinking about talking to this group of people.
Speaker 1: And if in Russia there will be other people who
Speaker 1: will would be prepared on the diplomatic level to acknowledge
Speaker 1: the piece formula in any format, but first of all
Speaker 1: acknowledge our territorial integrity, that we are as subjects, that
Speaker 1: we are the same people as they are, we're ready
Speaker 1: to talk to them. Of course, the grain deal and
Speaker 1: the exports of grain, and that looks as if it's
Speaker 1: going to roll over. The other big issue is fertilizer.
Speaker 1: You produced a lot of the world's fertilizer and everyone
Speaker 1: is worried about the fact it's stuck. Do you think
Speaker 1: there is room for a deal on that as well?
Speaker 1: Thank you for this question. Grain deal is already extended.
Speaker 1: This is not negotiating. It's already a fact four months more,
Speaker 1: as I said in my statement, but one of the
Speaker 1: items of the peace formulas that it has to be unrestricted.
Speaker 1: Apart from the grain deal, you have to understand that
Speaker 1: we have grown strongly in logistics. We have built different
Speaker 1: pathways during this war in the several months, and that's
Speaker 1: another area where the investments could come and we invited them.
Speaker 1: But also the processing industry. How will Ukraine be different
Speaker 1: after the war than it was before? To give you
Speaker 1: one example, many of us when we came to Ukraine,
Speaker 1: one persistent worry was corruption. Will the new Ukraine that
Speaker 1: everyone admires so much at the moment, but the Ukraine
Speaker 1: that emerges from the war, will it be different like that?
Speaker 1: How will Ukraine be different in four or five years um? Best,
Speaker 1: First of all, there will not be political influence of
Speaker 1: Russia and Ukraine. And secondly, there will not be influence
Speaker 1: of Russian capital. They withdrawn from our companies will pushed
Speaker 1: them out. The political parties of that they were influencing
Speaker 1: our expand and they will not participate in the next election,
Speaker 1: so the information or influence on our development into a
Speaker 1: political correction will not be there as well, and this
Speaker 1: is very important because that shapes the independence of our
Speaker 1: country and also investments and the condition with corruption. There
Speaker 1: will be no corruption. We don't have it now, of course,
Speaker 1: because we're all united around our country. Many people look corrupt.
Speaker 1: People have left the country with their money and we
Speaker 1: will do our best for them to stay where they
Speaker 1: now are the most important things that we have to
Speaker 1: u focus on. We are united only those who want
Speaker 1: to protect their country. No one will be able to
Speaker 1: forgive corruption in future after the war because we've lived
Speaker 1: with very difficult challenges and war. Technologically, there will be
Speaker 1: no corruption because during this time we will have done
Speaker 1: everything to make sure that it works online. We are
Speaker 1: already have cuts in the management of our government agencies
Speaker 1: that should be less government in the business, so we
Speaker 1: this is why we're doing all services um digitally. So
Speaker 1: we started this with convict COVID because of the pandemics,
Speaker 1: but during the war we have boosted this with new
Speaker 1: dynamic so all the services are going to be electronics,
Speaker 1: so they will not be contact with the with the
Speaker 1: civil servants and still will not be pressed on on business.
Speaker 1: And this talks about the independence of economy and transparency
Speaker 1: of investments, and these are the most important things. I
Speaker 1: think that many people who have left Ukraine, many families
Speaker 1: with children and students, who want to come back and
Speaker 1: build their country based on different values, and I think
Speaker 1: that this will be a completely different country where I
Speaker 1: would like to welcome you to come. And that was
Speaker 1: Ukrainian President vladimir's Leinsky speaking with Bloomberg News Editor in
Speaker 1: chief John Michelswaite at the conclusion of the Bloomberg New
Speaker 1: Economy Forum in Singapore. You can catch their full interview
Speaker 1: anytime on Bloomberg dot Com or on the Bloomberg terminal,
Speaker 1: and we will continue bringing you more from Ukrainian Presidents
Speaker 1: Lensky's remarks at the New Economy Forum throughout the day
Speaker 1: here on Bloomberg Radio. For now it's on Wall Street.
Speaker 1: We want to turn to this market for that. We're
Speaker 1: joined live by liz Anne Saunders, chief investment strategist at
Speaker 1: Charles Schwab. It's great to have you on with us
Speaker 1: this morning. Lizz Anne, Thanks for being here, though we
Speaker 1: are seeing a leg lower in the future perspective. Liz
Speaker 1: Ane Saunders of Charles Schwab, thank you for being here. Karen, alright,
Speaker 1: we are coming up to stage thirty on Wall Street
Speaker 1: and good morning. I'm Karen Moscow along with Nathan Hanker,
Speaker 1: and we're just about three hours away from the open
Speaker 1: of US trading. It's time for the five things that
Speaker 1: you need to notice start your day, prompts to you
Speaker 1: by Interactive Brokers. Interactive Brokers charges margin loan rates from
Speaker 1: four point three three percent to five point three rate,
Speaker 1: subject to change. Learn more at I v k R
Speaker 1: dot com slash compare up. First, officials are investigating the
Speaker 1: missile strike that killed two people in Poland. President Biden
Speaker 1: was asked about it. What's your reaction to Presidents the
Speaker 1: Weskie saying that the bistles been landed at Poland. We're
Speaker 1: not Pradian. That's not the over. President Biden, along with
Speaker 1: Poland and NATO all say the missile likely came from
Speaker 1: Ukrainian air defenses. Meanwhile, Ukrainian President vladimir's Lensky insists it
Speaker 1: was a Russian rocket that struck Poland. He was asked
Speaker 1: about it by Bloomberg Editor in chief John mickel Thwaite
Speaker 1: at the Bloomberg New Economy Forum in Singapore, who were
Speaker 1: about hundreds missiles that will launch on that day. And
Speaker 1: I'm grateful for the world too for the support of
Speaker 1: Ukraine with air defense and anti missile defense. But nevertheless,
Speaker 1: you can see what are the consequences and optimists of
Speaker 1: the Russian war. This is not the first time that
Speaker 1: the whole missile, a piece of missile of Russia falls
Speaker 1: down on the territory of another country. President President vladimir's Lenski,
Speaker 1: speaking through an interpreter, says Ukraine will go to the
Speaker 1: blast side in Poland as part of the investigation. Turning
Speaker 1: back to the US, Karen Republicans have won a slim
Speaker 1: majority in the House bloom For said Baxters, as it
Speaker 1: gives them considerable power. They now have subpoena power and
Speaker 1: control over powerful committees. They've said they will make the
Speaker 1: Biden administration their top priority. Potential probes and everything from
Speaker 1: Afghanistan pull out to border policies, the origins of COVID nineteen,
Speaker 1: the FBI search at mar Lago, and dealings involving President
Speaker 1: Biden's son Hunter in San Francisco. I'm at Baxter Bloomberg
Speaker 1: Daybreak right and thank you. Over in the UK, investors
Speaker 1: are watching Chancellor Jeremy Hunt delivered details on the UK budget. Elsewhere,
Speaker 1: Bloomberg News reports the European Central Bank could slow the
Speaker 1: pace of upcoming rate hikes as talks of another seventy
Speaker 1: five basis point hike lack momentum. As for the US
Speaker 1: Central Bank, Karen Fed Governor Christopher Waller is voicing support
Speaker 1: for a fifty basis point hike at the next fo
Speaker 1: MC meeting. The normally hawkish Waller spoken Phoenix yesterday and
Speaker 1: an update Nathan on ft X. In a series of tweets,
Speaker 1: former CEO Sam Bankman Freed amidst the collapsed crypto exchange
Speaker 1: got careless and said he would do his best to
Speaker 1: say if customers can new management at fd X A
Speaker 1: Bankman Free does not speak on the company's behalf. And
Speaker 1: that's the five things that you need to notice start
Speaker 1: your day. Brought to you by Interactive Brokers. And futures
Speaker 1: are lower this morning, S and P futures down twenty
Speaker 1: four points now futures down and nasdag futures down seventy one.
Speaker 1: Ten year treasuries down ten thirty seconds, you know, three
Speaker 1: point seven two percent, and the yield on the two
Speaker 1: year is at four point three six percent. Straight ahead,
Speaker 1: we have your latest local headlines, plus a check of sports,
Speaker 1: and this is Bloomberg. Thank you, Karen. It is six
Speaker 1: thirty three on Wall Street. Were seven degrees now in
Speaker 1: Central Park. Still dealing with a jackknife tractor trailer eastbound
Speaker 1: seventy eight in Clinton, New Jersey. Details coming up in traffic.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. New York City is proposing a minimum pay
Speaker 1: rate of nearly twenty four dollars an hour for apt
Speaker 1: Base restaurant delivery workers who criss crossed the city. The
Speaker 1: proposal from the Department of Consumer and Worker Protection also
Speaker 1: acknowledges that the new hire minimum wage will mean food
Speaker 1: deliveries will cost more for customers. The proposal would cover
Speaker 1: salary expenses and insurance. Mayor Eric Adams says the proposal,
Speaker 1: build as the first of its kind, would help ensure
Speaker 1: of fairer pay for delivery workers for third party apps,
Speaker 1: providing more stability for sixty workers across the city. Former
Speaker 1: Vice President Mike Pence declined to say whether he believes
Speaker 1: Donald Trump is fit to be president again. Penn spoke
Speaker 1: during a CNN town hall last night, Well, let me
Speaker 1: say there there may be somebody else in that contest.
Speaker 1: I'd prefer more Jack anyone in mind. You know, I
Speaker 1: honestly believe we're gonna have better choices. When asked whether
Speaker 1: he will run for the White House, Penn said, I'll
Speaker 1: keep you posting. A Wisconsin judge issued a life sentence
Speaker 1: for the suv driver who rammed through a Chris Ms
Speaker 1: parade and walkeshaw last year. Six people were killed and
Speaker 1: dozens were injured. Before the sentencing, the mother and grandmother
Speaker 1: of Darryl Brooks Jr. Pleaded for leniency and stress his
Speaker 1: battle with mental illness. Democrats in the Senate are moving
Speaker 1: forward on passing federal same sex marriage protections after the
Speaker 1: repeal of Roe v. Wade. Legislation protecting the right of
Speaker 1: same sex couples to marry advance in the Senate on
Speaker 1: a sixty two thirty seven procedural vote, setting it up
Speaker 1: a passage by a simple majority as soon as this week.
Speaker 1: Among the GOP members supporting the measure is retiring Ohio
Speaker 1: Senator Rob Portman settle this issue once and for all.
Speaker 1: Millions of American couples, including many of Ohio, are counting
Speaker 1: on their electric representatives of Congress to recognize and protect
Speaker 1: their marriage. To give them the peace of mind to
Speaker 1: note that their marriage is indeed protected and secure. Senator
Speaker 1: Portman says, if approved, the bill would need to go
Speaker 1: back to the House for their vote before President Biden
Speaker 1: could sign it in along. There's a shift in childbirth
Speaker 1: during the pandemic. Researchers with the CDC say there was
Speaker 1: a sharp increase in at home births, especially in the
Speaker 1: first year the pandemic. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than twenty seven hundred journalist and analyst and more
Speaker 1: than a hundred twenty countries. Michael Barr, This is Bloomberg Naked.
Speaker 1: Thanks Michael. Almost six thirty six on Wall Street time
Speaker 1: for the Bloomberg Sports Update, brought to you by twice
Speaker 1: State out of Here's John Stashwan al Right, Nathan the
Speaker 1: Knicks road trip again with fact to back games in
Speaker 1: Utah and den for the Jazz and Another's were the
Speaker 1: only two NBA teams who had not lost at home,
Speaker 1: and the Knicks beat them. Both certainly didn't hurt that
Speaker 1: another throughout their star center. Nicola yokis us in COVID
Speaker 1: protocol and the Knicks book advantage. They won one oh
Speaker 1: six to one oh three. It's their first win in
Speaker 1: Denver since two thousand six. Julius Randall thirty four points,
Speaker 1: Dalen Brunson at one nexts plates not in Portland, still
Speaker 1: without the suspensive try Irving, but there is word he
Speaker 1: might return. Sunday in Brooklyn. Local hockey teams all on
Speaker 1: the road to n Itala. Jokes, Texas beat second rank
Speaker 1: Gonzagi easily seton hall off at home to Iowa. Aaron
Speaker 1: Judge expected to be named American League m v P today,
Speaker 1: with would make thirteen Yankees who have won twenty one
Speaker 1: m v P awards, and then all Judge would now
Speaker 1: need is a new contract. His good friend Anthony Rizzo's
Speaker 1: coming back. He was a free agent but re signed.
Speaker 1: Everyone Thrives playing in New York. Rizzo a part of
Speaker 1: this iconic franchise. Um is amazing and to be able
Speaker 1: to be a part of it for at least two
Speaker 1: more years. Um. It's just it's an amazing feeling, and
Speaker 1: that's really to be in the big market at the
Speaker 1: end of the bright lights. Um, to have that seven
Speaker 1: scrutiny is just what I love about one of the
Speaker 1: many things I love about this game. So young winners
Speaker 1: Houston's justin Verland in Miami, Sandy all Contra both won unanimously.
Speaker 1: Earlander making it back from Tommy John surgery to win
Speaker 1: at age thirty nine. It's his third side young that
Speaker 1: shouldn't cement him as the first ballot Hall of Famer
Speaker 1: at Verlander is now a free agent. Week Go eleven
Speaker 1: begins tonight Tennessee at Green Bay. John Stare Bloomberg Sports,
Speaker 1: Thank you, John sixty seven on Wall Street. Time to
Speaker 1: take a look at some of the stock names moving
Speaker 1: in the pre market this morning with Bloomberg Radio and
Speaker 1: TV Markets correspondent Crety Gupta starting off with some of
Speaker 1: the latest tech earnings news. Good morning, Crety, well, good morning.
Speaker 1: We got to start talking about in video here. This
Speaker 1: is the major heavyweight n v d A s R
Speaker 1: taker shares actually up one point six two. Remember we're
Speaker 1: looking at a background of futures down about seven tenths
Speaker 1: of one percent. So this is important because this is
Speaker 1: a potential mover against the grain of the stock market
Speaker 1: today and Video topping their estimates specifically on their data
Speaker 1: center businesses. Now we remember advanced micro devices and in
Speaker 1: video both were kind of looking to diversify, and a
Speaker 1: m D has recently kind of uh made some big
Speaker 1: attempts to edge out Intel out of the chip maker
Speaker 1: market for this reason that they're looking into not just
Speaker 1: traditional memory chips for example, but server chips as well,
Speaker 1: and video doing the same thing. And remember en Video
Speaker 1: and a m D were also kind of correlated with
Speaker 1: Facebook shares. The idea that if or I should say
Speaker 1: meta now meta, if you're going to see the metaverse,
Speaker 1: someone has to power the metaverse. Those data centers are
Speaker 1: going to need chips and therefore end video and like
Speaker 1: a m D would provide them. Nevertheless, that idea has
Speaker 1: really been pushing end video shares higher this morning, and
Speaker 1: that of course comes in the background of a slowdown
Speaker 1: in the PC industry broadly. So um when anthan when
Speaker 1: you see demand slow down, best to diversify, and that's
Speaker 1: exactly what Video is doing let's diversify over to retail
Speaker 1: because we've got new earnings from Bath and body Works.
Speaker 1: Of positive story there, absolutely, B b W I is
Speaker 1: your taker. Shares up a whopping twenty one percent in
Speaker 1: the pre market. That is quite the booze. This comes
Speaker 1: after they are boosting their fullier EPs. They're also beating
Speaker 1: those estimates. Lee. You are seeing some good numbers across
Speaker 1: the board here, But I think what's really significant is
Speaker 1: kind of this reward that share prices are getting when
Speaker 1: they do boost their all your outlook. You saw this
Speaker 1: with lows yesterday as well. The idea that they said,
Speaker 1: you went that fourth quarter where everyone's pulling back a
Speaker 1: little bit, we are going to uh really enjoy a
Speaker 1: little bit of extra demand and therefore boost that fourth
Speaker 1: quarter outlook. Path and body Works no exception, which is
Speaker 1: why you're seeing that surge in the pre market. So
Speaker 1: certainly something you want to keep an eye on. Nathan
Speaker 1: might throw one more at your Cisco, which I think
Speaker 1: is a massive story. We have to keep an eye
Speaker 1: on c s CEO up three point six percent in
Speaker 1: the pre market. Look, they also came out with some earnings,
Speaker 1: but they said the supply chain pressures are starting to
Speaker 1: ease a little bit, so in a way, they're actually
Speaker 1: saying that some of the issues that prevented them from
Speaker 1: meeting that full capacity, well they might not be issues anymore. Nathan.
Speaker 1: That's going to pretend really well for the spire and
Speaker 1: potentially the NASDAC. But once again, these are some of
Speaker 1: the movers that are just moving against the broader trend
Speaker 1: this morning. Yeah, the trend lower. Thanks for this, Bloomberg
Speaker 1: Radio and TV Markets correspondent Creating Gupta. Also more earnings
Speaker 1: just crossing the Bloomberg terminal, very closely watched from Ali Baba.
Speaker 1: Second quarter revenue coming in below the average analyst estimate.
Speaker 1: Uh futures moving lower as well. We've got SMP futures
Speaker 1: down thirty two points down, futures down two, NASDAC futures
Speaker 1: down ninety four points, so adding to the declines. On
Speaker 1: this early Thursday morning, you're listening to Bloomberg Daybreak Bloomberg
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Speaker 1: for more information, markets, headlines and breaking news twenty four
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Speaker 1: Slash Managers and futures are following this morning. Let's go
Speaker 1: to the First Word Breaking news desk for today's morning call,
Speaker 1: and here's Bill Maloney. Bill, good morning, Hey, good morning, Karen.
Speaker 1: That's right. U s ugues are under pressure right now.
Speaker 1: Death futures down two hundred and four points, subs drop
Speaker 1: twenty six and as that features dropped by seventy four.
Speaker 1: The US ten yield at three point seven three, gold
Speaker 1: is down ten, oil is in the red, and bitcoin
Speaker 1: is trading little changed. Hong Kong fell one overnight, while
Speaker 1: up markets are also in the red this morning. And
Speaker 1: back in the US on the economic Frinday thirty initial
Speaker 1: jobs claims and October housing starts after develous night in
Speaker 1: Vidia sales toped estimates. Cisco also beat estimates and regarding
Speaker 1: earnings this morning Alive Biber revenue missed estimates, and look
Speaker 1: for Macy's and Cole's to report in the pre market,
Speaker 1: grapping things up. Target was cut to market perform at BMO,
Speaker 1: Norwegian Cruise cut to underperform at Craig Sweeze, and Whirlpool
Speaker 1: was kept in neutral over at Goldman Sachs. Live from
Speaker 1: the first Brick in nestscm Bill Maloney, Karen Herey, Bill,
Speaker 1: thanks to here live breaking news over your Bloomberg type
Speaker 1: squawk on your terminal squ a wuk and that's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael, Karen, thank you
Speaker 1: very much. Republicans have one a narrow House majority. More
Speaker 1: than a week after election day, the party finally gained
Speaker 1: the minimum two eighteen seats needed to control the chamber
Speaker 1: when a p called incumbent Republican Representative Mike Garcia over
Speaker 1: Democrat Christie Smith in California. A Ukrainian regional governor says
Speaker 1: a Russian missile strike has hit Ukraine's southern Odessa region
Speaker 1: for the first time in the weeks. Today's blast follows
Speaker 1: the huge barrage of Russian strikes this week that also
Speaker 1: resulted in a deadly missile explosion hitting Poland. In the NBA.
Speaker 1: The next one, the Celtics won their eighth straight beating
Speaker 1: the Hawks. On one the Wizards and Warriors lost. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than seven hundred journalists
Speaker 1: and analysts more than a hund twenty countries. I'm Michael Barr.
Speaker 1: This is Bloomberg. The following commentary is from Bloomberg Opinion.
Speaker 1: Holiday shoppers skip the store credit cards. I'm Alexis leondis
Speaker 1: a calmness for Bloomberg Opinion. As holiday shoppers head to
Speaker 1: the stores in search of Black Friday deals, they'll hear
Speaker 1: the familiar pitch, would you like to see an extra
Speaker 1: ten percent on your purchase today by opening a new
Speaker 1: credit card? A discount dangled at the checkout counter is
Speaker 1: always tempting, and while these credit cards have become less
Speaker 1: popular in recent years, higher prices and tighter finances could
Speaker 1: persuade more shoppers to give them another look. Sometimes loyalty
Speaker 1: comes with perks, but more often than not, store credit
Speaker 1: cards just end up costing you more. Retail credit cards
Speaker 1: have much higher rates, and many do something sneaky called
Speaker 1: deferred interest. So if a shopper doesn't pay off the
Speaker 1: balance within the promotional window of say six months, there
Speaker 1: assessed interest retroactive from the purchase date. For most, the
Speaker 1: best response is suggest saying no, I'm alexis leandest. For
Speaker 1: more opinion, please go to Bloomberg dot com, Slash Opinion
Speaker 1: or O P I n go on the Bloomberg terminal.
Speaker 1: These has been Bloomberg Opinion and Bloomberg Opinion commentaries can
Speaker 1: be heard every weekday at this time and terminal customers
Speaker 1: can read more at O P I n go. And
Speaker 1: it says fifty on Wall Street. And let's turn to
Speaker 1: news and science and technology now with the Bloomberg n
Speaker 1: j i T STEM Report brought to you Buy New
Speaker 1: Jersey Institute of Technology n j i T has joined
Speaker 1: with McKenzie and Company to establish a Mackenzie Digital Capability
Speaker 1: Center specializing in biopharma manufacturing. Learn more at n j
Speaker 1: I T dot E d U and here's us making
Speaker 1: news and science, Technology, engineering, and math. A Food Agency
Speaker 1: official at the u N says vulnerable countries in Africa,
Speaker 1: Asia and Latin America have less than a decade to
Speaker 1: install earning early warning systems and diversify crops before the
Speaker 1: laws and damage from climate change outstrips their financial ability
Speaker 1: to tackle it. The u M last week called for
Speaker 1: investment of more than three billion dollars by seven to
Speaker 1: boost preparedness for climate related catastrophes and ensure communities in
Speaker 1: some of the world's poorest countries receive early warnings. The
Speaker 1: largest damn demolition and river restoration plan in the world
Speaker 1: could be close to reality as US regulators vote on
Speaker 1: a plan to remove four aging hydro electric structures, reopening
Speaker 1: hundreds of miles of California River habitat to imperiled salmon.
Speaker 1: The vote later today by the Federal Energy Regulatory Commission
Speaker 1: is the last major regulatory hurdle and the biggest milestone
Speaker 1: facing a five hundred million dollar demolition proposal champion by
Speaker 1: Native American tribes and environmentalists for years and former ft
Speaker 1: X CEO Sam Bankman. Freed is telling his side of
Speaker 1: the company's collapse, and he's doing it through a series
Speaker 1: of tweets. Bankman Freed admitted the ft X got overconfident
Speaker 1: and careless and said he would do his best to
Speaker 1: save customers cash. And that's the Bloomberg n j I
Speaker 1: t Stem Report. Nathan, Thanks Karen. We're live from the
Speaker 1: Bloomberg Interactive Brokers studios where it's six fifty two on
Speaker 1: Wall Street. Time to check what's going on in d C.
Speaker 1: Some of the top stories in our nation's capital include
Speaker 1: Republicans taking the House officially by a slim margin, President
Speaker 1: Biden disputing Zelenski's claim about the missile that hit Poland,
Speaker 1: and another Trump presidential candidacy complicating matters for federal prosecutors.
Speaker 1: Let's bring in Jack Fitzpatrick, congressional reporter for Bloomberg Government. So, Jack,
Speaker 1: Republicans are now officially projected to win control of the House.
Speaker 1: What is that going to mean for legislating over the
Speaker 1: next two years. Well, it's going to be very difficult
Speaker 1: because it's going to be a narrow, narrow majority. They've
Speaker 1: counted up the two eighteen wins they need to control
Speaker 1: the House, but when everything's called, they're probably only going
Speaker 1: to have a few seat majority. At the same time, Uh,
Speaker 1: to have control of that chamber and to have control
Speaker 1: of its committees is important. It gives them the subpoena
Speaker 1: authority that can that comes with the control of how
Speaker 1: uh committees. UH. That would allow them to investigate President
Speaker 1: Biden and his family. And it gives oversight power to
Speaker 1: Republicans they want to investigate social media companies, as some
Speaker 1: conservatives have said. UH. And also, you know, if you
Speaker 1: control one chamber at any time you're unhappy with the administration,
Speaker 1: you're the ones who get to drag in the administration
Speaker 1: officials uh and and ask the tough questions and be
Speaker 1: in charge of those hearings. But again, with a really
Speaker 1: narrow majority, some of the loftier goals of cutting government
Speaker 1: spending big policy goals are very very difficult when you
Speaker 1: see a narrow House majority, in a narrow Senate majority.
Speaker 1: It makes government funding very difficult to strike deals on,
Speaker 1: makes it difficult to to figure out a whip count
Speaker 1: for anything you really want to pass in the House,
Speaker 1: because there are people who miss votes. There are people
Speaker 1: who over the course of two years, I UH, it's
Speaker 1: gonna be a huge challenge for Republican leadership on the floor.
Speaker 1: But control of the committees is significant, and now we
Speaker 1: know how Speaker Nancy Pelosi is going to be handing
Speaker 1: over the gavel in January, and we're waiting for something
Speaker 1: of an announcement later today on just exactly what her
Speaker 1: political future is going to be. Now, yes, uh, you know,
Speaker 1: the door was open for her to uh to pass
Speaker 1: on the leadership position as the head of the Democratic
Speaker 1: Caucus to someone else. It was sort of expected that
Speaker 1: if they lost the House, that Pelosi may uh not
Speaker 1: seek the position of minority leader and allow someone like
Speaker 1: Hakim Jeffreys to take the helm. Now. I think some
Speaker 1: questions were raised about Democrats over performance because there were
Speaker 1: Republicans who thought there'd be a red wave. Um, but
Speaker 1: you know, the door is absolutely open for her to
Speaker 1: pass things on. Her staff have said that she's going
Speaker 1: to make an announcement about her future plans today, so
Speaker 1: we'll find out soon what exactly her plans are. It
Speaker 1: is possible that she would give up her leadership position
Speaker 1: but not resign from the House. She was just re elected,
Speaker 1: so as long as she's a member of Congress, you
Speaker 1: would be an important one, definitely a respected one among Democrats,
Speaker 1: including ones who are very happy about their performance in
Speaker 1: the mid terms, almost holding the House and only getting
Speaker 1: a narrow majority to Republicans. But we will find out
Speaker 1: soon exactly what her role would be. UH, and it
Speaker 1: may be the end of about a twenty year UH
Speaker 1: leadership of the Democratic Caucus. Got about a minute left here, Jack,
Speaker 1: let's turn to geo politics. Are we seeing some daylight
Speaker 1: open between President Biden and Ukraine's president when it comes
Speaker 1: to that missile strike in Poland? Well, at this point,
Speaker 1: Vladimir Zelinsky, the Ukrainian president, has backtracked a little bit.
Speaker 1: He initially said that he was sure it was a
Speaker 1: Russian missile. Uh. President Biden was asked about that and said,
Speaker 1: that's not evidence. But Zelensky has since said no, one knows.
Speaker 1: They're going to investigate. Uh. It's there's quite a bit
Speaker 1: of confusion at this point, but there is not an
Speaker 1: outright um argument between Zelensky and Biden after that bit
Speaker 1: of pushback from Biden on the initial assertions from Ukraine
Speaker 1: that it must have been a Russian missile rather than
Speaker 1: a defense action gone awry by Ukraine. Thanks Jack, As
Speaker 1: always know, it's gonna be a very busy few days
Speaker 1: and weeks for you as the leadership gets settled in
Speaker 1: the lame duck session here in Congress. That's Bloomberg Government
Speaker 1: Congression reporter Jack Fitzpatrick joining us from the nation's capital.
Speaker 1: You can read more on these stories on Bloomberg dot
Speaker 1: com or on the Bloomberg terminal, and you can listen
Speaker 1: to Bloomberg Radio in Washington at Bloomberg and Oh five
Speaker 1: point seven Fm HD two. Watching earnings from Macy's across
Speaker 1: the Bloomberg terminal. Adjusted earnings per share for the third
Speaker 1: quarter beat the average analyst estimate, and Macy's is raising
Speaker 1: its outlook for the fiscal year. And right now, Macy's
Speaker 1: shares are moving higher in the pre market. They're now
Speaker 1: up five and a half percent broader. The futures are
Speaker 1: moving lower still. SMP futures are down twenty three points,
Speaker 1: Staff futures are down, and NASTAC futures are lower by
Speaker 1: fifty nine points. Tenure treasuries down nine thirty seconds, the
Speaker 1: yield three point seven two percent, and the yield on
Speaker 1: the two year four point three six percent. Bloomberg Surveillance
Speaker 1: is next with Tom Keene, Jonathan Farrell, and Lisa Abramowitz
Speaker 1: for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg.