WEBVTT - Biden Memory Issues?; Reaction to Putin Interview

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

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<v Speaker 1>Hager and I'm Karen Moscow. Here are the stories we're

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<v Speaker 1>following today.

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<v Speaker 2>We begin in Washington, d C. President Biden held the

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<v Speaker 2>last minute news conference last night after special counsel Robert

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<v Speaker 2>Hurr decided not to bring charges against the President over

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<v Speaker 2>his handling of classified documents. Her says Biden would have

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<v Speaker 2>come across to a jury as a quote sympathetic, well meaning,

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<v Speaker 2>elderly man with a poor memory. President Biden had some

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<v Speaker 2>words about that.

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<v Speaker 3>I'm well mean, I'm an elderly man, and I know

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<v Speaker 3>what the hell I'm doing.

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<v Speaker 4>I'm in President.

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<v Speaker 5>I put this country back on his feet.

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<v Speaker 2>Then the President had this to say about efforts to

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<v Speaker 2>deliver humanitarian aid to Gaza.

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<v Speaker 5>Initially, the President of Mexico CC.

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<v Speaker 3>Did not want to open up the gate to allow

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<v Speaker 3>humanitarian material to get in.

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<v Speaker 2>The President of that news conference mistakenly referred to the

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<v Speaker 2>president of Egypt as the leader of Mexico. Bloomberg's Akaela

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<v Speaker 2>Gardner reports this could add to one of Biden's biggest

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<v Speaker 2>political liabilities, though he is not the only one.

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<v Speaker 6>Interestingly enough, Donald Trump has made similar Gas. He also

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<v Speaker 6>referred to the Prime Minister of Hungary as the leader

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<v Speaker 6>of Turkey. But Poles continue to show that voters are

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<v Speaker 6>just more concerned about Biden, in particular with his age

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<v Speaker 6>at eighty one.

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<v Speaker 2>And Bloomberg's A Kaela Gardner notes former President Trump is

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<v Speaker 2>still facing charges in four criminal cases, including over his

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<v Speaker 2>own handling of classified documents.

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<v Speaker 1>Well, Nathan, the former president could have better news coming

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<v Speaker 1>from the Supreme Court. The justices appear likely to keep

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<v Speaker 1>Trump on the Colorado ballot after historic arguments over whether

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<v Speaker 1>he should be disqualified over his role in the January

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<v Speaker 1>sixth Capitol riot, and the former president dominated the Nevada

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<v Speaker 1>CAUCUSUS last night, putting him one step closer to clinching

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<v Speaker 1>the Republican nomination. Bloomberg Amy Morris has Moore from Washington.

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<v Speaker 7>Donald Trump won Nevada in a landslide, claiming all twenty

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<v Speaker 7>six of Nevada's GOP delegates. Just after securing a victory

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<v Speaker 7>in the US Virgin Island caucuses in Las Vegas, Trump

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<v Speaker 7>referenced yesterday's Supreme Court hearing on whether he can remain

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<v Speaker 7>on the ballot in Colorado.

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<v Speaker 4>This was a great day. This was a great night

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<v Speaker 4>our Supreme Court. Hopefully we'll be doing something in terms

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<v Speaker 4>of helping our country and preserving democracy.

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<v Speaker 8>We have to preserve our democracy.

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<v Speaker 7>The next major Republican contest is February twenty fourth in

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<v Speaker 7>South Carolina, Nikki Haley's home state, where she trails Donald

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<v Speaker 7>Trump in the polls by more than thirty points. A

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<v Speaker 7>loss there would be a devastating blow to her campaign,

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<v Speaker 7>even though she says she'll stay in the race through

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<v Speaker 7>Super Tuesday. On March fifth, Amy Moore as Bloomberg Radio.

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<v Speaker 9>All right, Amy, thank you.

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<v Speaker 2>We now turned to Russian President Vladimir Putin in his

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<v Speaker 2>first interview with a Western media figure since the invasion

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<v Speaker 2>of Ukraine two years ago. Putin says Russia has not

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<v Speaker 2>achieved its objectives yet. Bloomberg zed Baxter has the story.

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<v Speaker 4>Putin says the goals have to be met, but then

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<v Speaker 4>offered what he says is the way to stop the fighting.

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<v Speaker 4>In this interview with Tucker Carlson, the message through translation

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<v Speaker 4>directly to the US.

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<v Speaker 3>If you really want to stop fighting, you need to

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<v Speaker 3>stop supplying weapons. It will be over within a few weeks.

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<v Speaker 3>That's it, and then we can agree on some terms.

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<v Speaker 4>The US has rejected the same in the past. The

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<v Speaker 4>war near's the two year mark, and neither side is

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<v Speaker 4>showing any sign of capitulation. At Baxter Bloomberg Radio.

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<v Speaker 1>All right, ed, thanks, So we turned to the markets

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<v Speaker 1>now in a stock cit in record territory, one Wall

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<v Speaker 1>Street firm is issuing caution. Bank of America says the

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<v Speaker 1>stock market is triggering several cell signals. Strategist Michael Hartnett

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<v Speaker 1>says the bank's custom bull and bear indicator rose to

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<v Speaker 1>six point eight. Our reading above eight would suggest the

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<v Speaker 1>bullish trend is run too far, flashing a contrarian signal

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<v Speaker 1>to sell. Harnett was Brownley Barrish on stocks last year,

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<v Speaker 1>a call that did not play out.

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<v Speaker 2>And Karen investors today are awaiting annual revisions to monthly

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<v Speaker 2>inflation data. More on that from Bloomberg's John Tucker, John

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<v Speaker 2>and Nathan.

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<v Speaker 10>After last year's adjustments cast doubt on the Fed's progress

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<v Speaker 10>in taming prices. This could increase or decrease confidence that

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<v Speaker 10>policymakers have in a sustainable return to two percent inflation. Consequently,

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<v Speaker 10>it may affect the timing of the first rate cut.

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<v Speaker 10>Richmond Fed President Thomas Barkin speaking to Bloomberg yesterday about

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<v Speaker 10>inflation reliability. It says, you do have to acknowledge how

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<v Speaker 10>good the inflation data has been the last seven months, I.

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<v Speaker 11>Mean last seven months core inflation one point nine percent.

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<v Speaker 11>That's right on target. That's terrific. All right, And I'm

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<v Speaker 11>not rooting against inflation, but I'm always you know, trust

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<v Speaker 11>but verify, you know, let's make sure that's really right.

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<v Speaker 10>The revisions are out at eight thirty Wall Street time. Well,

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<v Speaker 10>the next key data point will be the regular inflation print.

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<v Speaker 10>We get that on Tuesday. John Tuncker, Bloomberg Radio.

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<v Speaker 1>All right, John, thanks. You want to take a look

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<v Speaker 1>at some stocks that are on the move this morning,

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<v Speaker 1>including Expeedia. Those shares are down fourteen percent in early trading.

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<v Speaker 1>Gross bookings in the fourth quarter, missing analyst estimates, and

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<v Speaker 1>in a mo that caught many analysts by surprise. Expedia

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<v Speaker 1>named Arian Goren as chief executive, succeeding Peter Kern, who's

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<v Speaker 1>been in the role since twenty twenty.

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<v Speaker 2>We're also watching shares of Pinterest, Karen. They're down more

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<v Speaker 2>than eleven percent. Fourth quarter revenue missed analyst estimates at

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<v Speaker 2>the pinboard style search company. The results show a disappointing

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<v Speaker 2>or follow I should say a disappointing report from Snap.

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<v Speaker 2>That company suffered a stock plunge this week after holiday

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<v Speaker 2>season sales miss projections.

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<v Speaker 1>In Europe, Nathan shares Aliel down seven percent sales at

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<v Speaker 1>the French cosmetics group, disappointing investors. The owner of Landcombe

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<v Speaker 1>suffered from a decline in shopping by Chinese travelers.

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<v Speaker 2>And back here in the US, Karen, new rules will

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<v Speaker 2>force hedge funds to share more details about their investment strategies.

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<v Speaker 2>Funds with net assets of at least a half billion

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<v Speaker 2>dollars will be subject to changes, including reporting separately on

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<v Speaker 2>each component of a fund and revealing how they're investing

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<v Speaker 2>in crypto. This is an expansion of the current quarterly

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<v Speaker 2>filing system for big managers. Regulators say it's a better

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<v Speaker 2>way to keep tabs on risk in the financial system.

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<v Speaker 1>Orry Nathan, thanks time now for a look at some

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<v Speaker 1>of the other stories making news around the world. For that,

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<v Speaker 1>we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen.

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<v Speaker 7>A bill that would provide aid for Israel, Ukraine, and

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<v Speaker 7>Taiwan is moving forward in the Senate. Lawmakers voted in

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<v Speaker 7>favor of advancing the foreign aid package after Republicans in

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<v Speaker 7>that same chamber rejected a broader bill including those border

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<v Speaker 7>policy changes. The move means the Senate can begin consideration

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<v Speaker 7>of the ninety five billion dollar package. Former President Donald

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<v Speaker 7>Trump is all but locked up the GLP nomination for

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<v Speaker 7>president after dominating in Nevada. The next major Republican contest

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<v Speaker 7>is February twenty fourth in South Carolina, the home state

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<v Speaker 7>of Nikki Hayley. That's where she served two terms as governor,

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<v Speaker 7>but polls show her trailing Trump by more than thirty points.

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<v Speaker 7>She does have a bus tour through the state for

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<v Speaker 7>the next two weeks, while Trump has a get out

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<v Speaker 7>the vote rally planned near Myrtle Beach, South Carolina. Later

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<v Speaker 7>this weekend, drug company CEOs faced a grilling on Capitol Hill.

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<v Speaker 7>Senators accused them of ripping off off the American people

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<v Speaker 7>by charging more for some of their most popular drugs

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<v Speaker 7>in the US compared to what they charge in other countries.

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<v Speaker 7>Senator Bernie Sanders is chair of the Health, Education, Labor,

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<v Speaker 7>and Pensions Committee.

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<v Speaker 5>According to a recent poll, eighty two percent of Americans

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<v Speaker 5>say the cost of prescription drugs is too high. And

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<v Speaker 5>seventy three percent say that the government is not doing

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<v Speaker 5>enough to regulate drug prices.

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<v Speaker 7>MERK CEO Robert Davis says the industry's charging practices come from,

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<v Speaker 7>in part, the need to fund the research for new treatments.

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<v Speaker 5>Future treatment breakthroughs hinge on what we do now. We

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<v Speaker 5>must hold onto a US pharmaceutical market that is free, competitive,

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<v Speaker 5>and predictable.

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<v Speaker 7>Big pharmacyeos say systems outside the US might have lower prices,

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<v Speaker 7>but patients will have to wait longer for medicines that

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<v Speaker 7>are sometimes never approved our record. Sixty eight million Americans

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<v Speaker 7>are expected to bet on the Super Bowl this Sunday.

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<v Speaker 7>David Schwartz, UNLV professor and gambling historian says it is

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<v Speaker 7>likely because legal sports betting has exploded in popularity.

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<v Speaker 1>It's beyond just something people do.

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<v Speaker 5>It's beyond the activity.

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<v Speaker 8>It's also a cultural pastime.

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<v Speaker 5>In a lot of ways, it's a social thing that

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<v Speaker 5>people do together.

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<v Speaker 7>The number of Americans placing bets on the Kansas City

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<v Speaker 7>Chiefs in San Francisco forty nine ers, is up thirty

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<v Speaker 7>five percent from last year. So far, Schwartz says there

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<v Speaker 7>will probably be more legal bets than at any other

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<v Speaker 7>time in history. Global news twenty four hours a day

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<v Speaker 7>and whenever you want it with Bloomberg News Now. I'm

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<v Speaker 7>Maybe Morris and this is Bloomberg Karen right Amy.

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<v Speaker 1>Thanks. We do bring you news throughout the day right

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<v Speaker 1>here on Bloomberg Radio. But now you can get the

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<v Speaker 1>latest news on demand whenever you want it. Just subscribe

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<v Speaker 1>to Bloomberg and News Now to get the latest headlines

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<v Speaker 1>the click of a button. Get informed on your schedule.

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<v Speaker 1>You can listen and subscribe to Bloomberg News Now on

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<v Speaker 1>for the Bloomberg Sports Update, here's John stash hour Carrod.

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<v Speaker 8>A lot of trade activity in the NBA before yesterday's deadline.

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<v Speaker 8>Philadelphia seventy six per cent Patrick Beverly to Milwaukee for

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<v Speaker 8>Cameron Payne. The Sixers also acquired guard Buddy Healed from Indiana.

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<v Speaker 8>Brooklyn sent Spencer and Dinwoody to Toronto get back Dennis

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<v Speaker 8>Struder and Thady is Young. The Raptors say they will

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<v Speaker 8>wave Dinwoody. The Nets also traded Royce O'Neil to Phoenix

0:09:24.200 --> 0:09:27.480
<v Speaker 8>Dallas traded Grant Williams to Charlotte and return the MAVs

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<v Speaker 8>get back PJ Washington, Seth Curry and a first round

0:09:30.880 --> 0:09:34.480
<v Speaker 8>draft pick. Kelly o'lennock goes from Utah to Toronto for

0:09:34.640 --> 0:09:37.800
<v Speaker 8>a first round pick. Warriors won at Indiana one thirty

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<v Speaker 8>one to one oh nine for Steph Curry forty two points.

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<v Speaker 8>He made eleven three pointers. He had twenty nine points

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<v Speaker 8>by halftime. Cleveland won again one eighteen to ninety five

0:09:47.679 --> 0:09:50.480
<v Speaker 8>at Brooklyn, the Cavs with their second eight game winning

0:09:50.520 --> 0:09:54.439
<v Speaker 8>streak of twenty twenty four. In La, the Lakers unveiled

0:09:54.440 --> 0:09:57.120
<v Speaker 8>the Kobe Bryant statue, and then they lost to Denver

0:09:57.200 --> 0:09:59.160
<v Speaker 8>one fourteen to one oh six.

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<v Speaker 10>Hockey.

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<v Speaker 8>The Bruins of four nine in shutout went over Vancouver.

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<v Speaker 8>That capital is lost at Florida. Florida too. Lamar Jackson

0:10:05.880 --> 0:10:10.000
<v Speaker 8>a near unanimous NFL MVP. The Ravens quarterback got all

0:10:10.040 --> 0:10:14.120
<v Speaker 8>but one first place vote. Cleveland' Kevin Stefanski named Coach

0:10:14.160 --> 0:10:17.520
<v Speaker 8>of the Year. Houston quarterback CJ. Stroud the Rookie of

0:10:17.559 --> 0:10:21.559
<v Speaker 8>the Year. The NFL Hall of Fame class includes Julius Pepper,

0:10:21.800 --> 0:10:26.760
<v Speaker 8>Dwight Freeney, Patrick Willis, Devin Hester, Andre Johnson, Randy Gratis,

0:10:26.840 --> 0:10:29.600
<v Speaker 8>Jar and Steve mcmike John Stashiew were Bloomberg.

0:10:29.200 --> 0:10:34.800
<v Speaker 12>Sports from coast to coast, from New York to San Francisco,

0:10:35.120 --> 0:10:40.160
<v Speaker 12>Boston to Washington, DC nationwide on sirisxam, the Bloomberg Business

0:10:40.160 --> 0:10:43.880
<v Speaker 12>app in Bloomberg dot Com. This is Bloomberg Daybreak.

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<v Speaker 2>Good morning. I'm Nathan Hager. President Biden tried to push

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<v Speaker 2>back hard at the latest questions about his age and

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<v Speaker 2>mental fitness that came out of a special council's report

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<v Speaker 2>that cleared him of charges over his handling of classified documents.

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<v Speaker 2>But at a hastily arranged news conference last night, the

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<v Speaker 2>President may have raised those questions himself with a new

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<v Speaker 2>gaff in real time. For more on this and other

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<v Speaker 2>political stories making news this morning, we were joined by

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<v Speaker 2>Terry Haynes, the founder of Pangaea Policy. Terry, Good morning.

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<v Speaker 2>Of course, the slip up that is getting all the

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<v Speaker 2>attention in news outlets across the country and really around

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<v Speaker 2>the world is the President mixing up Egypt and Mexico

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<v Speaker 2>in a question about Gaza AID at this news conference.

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<v Speaker 2>Is the reaction to this overdone.

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<v Speaker 13>Well? Sure, good good morning. Well, sure it is in

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<v Speaker 13>some ways. I mean, people will always make whatever political

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<v Speaker 13>or personal hey that they want out of this. But

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<v Speaker 13>you know, my view of this is it's a real issue.

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<v Speaker 13>You know, it's the Justice Department Special Council comes out

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<v Speaker 13>with a document that's that says, among other things, that

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<v Speaker 13>Biden's got cognitive issues and that's one reason why they're

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<v Speaker 13>choosing not to prosecute. And then Biden, you know, does

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<v Speaker 13>the snap news conference hours later and compounds the problem

0:12:10.760 --> 0:12:13.079
<v Speaker 13>rather than puts it to bed. So you know, it's

0:12:13.120 --> 0:12:17.079
<v Speaker 13>a real problem. And what he's done is, inadvertently or

0:12:17.200 --> 0:12:21.920
<v Speaker 13>with intent, has made those those cognitive issues a cornerstone

0:12:21.960 --> 0:12:25.000
<v Speaker 13>of the election. And he's also made them a cornerstone

0:12:25.000 --> 0:12:27.079
<v Speaker 13>of geopolitical risk calculus.

0:12:27.080 --> 0:12:31.480
<v Speaker 2>I think that's a pretty strong statement, a geopolitical risk

0:12:31.559 --> 0:12:34.760
<v Speaker 2>calculus that it's raising. That tell me more about why

0:12:34.800 --> 0:12:35.280
<v Speaker 2>you think.

0:12:35.120 --> 0:12:41.000
<v Speaker 13>That very Simply that one of the things that other

0:12:41.120 --> 0:12:44.800
<v Speaker 13>nations around the world, our friends, our foes evaluate in

0:12:44.920 --> 0:12:49.839
<v Speaker 13>US is is our government. How the government works, who's

0:12:49.880 --> 0:12:52.760
<v Speaker 13>at the top of the government, how they operate, why

0:12:52.800 --> 0:12:56.800
<v Speaker 13>they operate that way. It's one thing to see, you know,

0:12:56.880 --> 0:13:01.320
<v Speaker 13>and and all governments do this and evaluate this way.

0:13:01.640 --> 0:13:05.240
<v Speaker 13>I mean, it's one thing to to see Biden's performance

0:13:05.360 --> 0:13:08.920
<v Speaker 13>in news clips, It's one thing to uh to register

0:13:09.360 --> 0:13:12.160
<v Speaker 13>register it from AFAR. But what you had yesterday was

0:13:12.200 --> 0:13:15.079
<v Speaker 13>a very different scenario where you had an army of

0:13:15.120 --> 0:13:18.520
<v Speaker 13>the United States government. And how this is played everywhere

0:13:18.520 --> 0:13:21.120
<v Speaker 13>else in the world is you know, senior official of

0:13:20.840 --> 0:13:25.520
<v Speaker 13>the Biden's own Justice Department saying what he said about

0:13:25.800 --> 0:13:29.800
<v Speaker 13>Biden's cognition, uh, and then having Biden come on and

0:13:29.840 --> 0:13:33.319
<v Speaker 13>demonstrated it at the same time. Uh. That makes the

0:13:33.720 --> 0:13:36.720
<v Speaker 13>I think that makes the world a slightly more dangerous place,

0:13:37.440 --> 0:13:44.880
<v Speaker 13>a slightly more risky place, because what our foes are

0:13:44.880 --> 0:13:48.600
<v Speaker 13>going to take away from that is, uh that Biden's

0:13:48.640 --> 0:13:50.400
<v Speaker 13>not up to it, and his own government knows it.

0:13:50.480 --> 0:13:52.959
<v Speaker 2>And that's the problem that has to be said though, Terry,

0:13:52.960 --> 0:13:55.920
<v Speaker 2>that former President Trump has faced his own questions about

0:13:55.960 --> 0:13:59.120
<v Speaker 2>his mental fitness. Nikki Haley's tried to hammer him on

0:13:59.320 --> 0:14:03.000
<v Speaker 2>that when the former president mixed her up with Nancy Pelosi.

0:14:03.080 --> 0:14:05.760
<v Speaker 2>I mean, what could these questions mean for the presidential

0:14:05.840 --> 0:14:06.640
<v Speaker 2>race going forward?

0:14:07.280 --> 0:14:10.080
<v Speaker 13>Oh? You know, absolutely, I don't mean to I do

0:14:10.200 --> 0:14:12.959
<v Speaker 13>not mean to suggest at all I'm trying to pile

0:14:13.000 --> 0:14:15.920
<v Speaker 13>on here with Biden. I really don't. I frankly, I

0:14:15.960 --> 0:14:19.560
<v Speaker 13>said in my note to to markets that I don't

0:14:19.600 --> 0:14:23.640
<v Speaker 13>agree with the way that what the Special Council did,

0:14:23.720 --> 0:14:25.960
<v Speaker 13>or the way the Special Counsel did it for that matter,

0:14:26.000 --> 0:14:30.640
<v Speaker 13>I think it was absolutely unnecessary. But you know, put

0:14:30.680 --> 0:14:34.800
<v Speaker 13>that aside. Yeah, they're both candidates to have these issues.

0:14:35.400 --> 0:14:37.320
<v Speaker 13>You know, as I think you said a little bit earlier,

0:14:37.960 --> 0:14:42.000
<v Speaker 13>it seems to it seems to have embedded a lot

0:14:42.040 --> 0:14:46.520
<v Speaker 13>more with with Biden than it has with Trump. We'll

0:14:46.520 --> 0:14:51.960
<v Speaker 13>see if you know Trump's Trump's issues which Haley brings out,

0:14:52.520 --> 0:14:55.920
<v Speaker 13>you know, continue, uh, but you know right now that

0:14:55.960 --> 0:14:59.520
<v Speaker 13>Trump people are having a field day on this. Politically,

0:14:59.760 --> 0:15:01.840
<v Speaker 13>I think think what it does for the race, frankly,

0:15:02.280 --> 0:15:06.000
<v Speaker 13>is encourages more people to look for third party candidates.

0:15:06.640 --> 0:15:08.320
<v Speaker 13>There are an awful lot of people out there that

0:15:08.360 --> 0:15:10.160
<v Speaker 13>are prepared to hold their nose and vote for Biden.

0:15:10.200 --> 0:15:12.440
<v Speaker 13>I think in a two or three party race, but

0:15:12.600 --> 0:15:15.160
<v Speaker 13>in a world where the vast majority of people don't

0:15:15.160 --> 0:15:18.160
<v Speaker 13>want to see a Trump versus Biden race anyway, it's

0:15:18.200 --> 0:15:21.800
<v Speaker 13>going to encourage people who may be voting for Biden

0:15:21.840 --> 0:15:24.200
<v Speaker 13>and even probably a few that may want to vote

0:15:24.200 --> 0:15:27.680
<v Speaker 13>for Trump to look at the third party candidates much

0:15:27.720 --> 0:15:30.960
<v Speaker 13>more seriously.

0:15:31.320 --> 0:15:34.200
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