Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: We begin in Washington, d C. President Biden held the
Speaker 2: last minute news conference last night after special counsel Robert
Speaker 2: Hurr decided not to bring charges against the President over
Speaker 2: his handling of classified documents. Her says Biden would have
Speaker 2: come across to a jury as a quote sympathetic, well meaning,
Speaker 2: elderly man with a poor memory. President Biden had some
Speaker 2: words about that.
Speaker 3: I'm well mean, I'm an elderly man, and I know
Speaker 3: what the hell I'm doing.
Speaker 4: I'm in President.
Speaker 5: I put this country back on his feet.
Speaker 2: Then the President had this to say about efforts to
Speaker 2: deliver humanitarian aid to Gaza.
Speaker 5: Initially, the President of Mexico CC.
Speaker 3: Did not want to open up the gate to allow
Speaker 3: humanitarian material to get in.
Speaker 2: The President of that news conference mistakenly referred to the
Speaker 2: president of Egypt as the leader of Mexico. Bloomberg's Akaela
Speaker 2: Gardner reports this could add to one of Biden's biggest
Speaker 2: political liabilities, though he is not the only one.
Speaker 6: Interestingly enough, Donald Trump has made similar Gas. He also
Speaker 6: referred to the Prime Minister of Hungary as the leader
Speaker 6: of Turkey. But Poles continue to show that voters are
Speaker 6: just more concerned about Biden, in particular with his age
Speaker 6: at eighty one.
Speaker 2: And Bloomberg's A Kaela Gardner notes former President Trump is
Speaker 2: still facing charges in four criminal cases, including over his
Speaker 2: own handling of classified documents.
Speaker 1: Well, Nathan, the former president could have better news coming
Speaker 1: from the Supreme Court. The justices appear likely to keep
Speaker 1: Trump on the Colorado ballot after historic arguments over whether
Speaker 1: he should be disqualified over his role in the January
Speaker 1: sixth Capitol riot, and the former president dominated the Nevada
Speaker 1: CAUCUSUS last night, putting him one step closer to clinching
Speaker 1: the Republican nomination. Bloomberg Amy Morris has Moore from Washington.
Speaker 7: Donald Trump won Nevada in a landslide, claiming all twenty
Speaker 7: six of Nevada's GOP delegates. Just after securing a victory
Speaker 7: in the US Virgin Island caucuses in Las Vegas, Trump
Speaker 7: referenced yesterday's Supreme Court hearing on whether he can remain
Speaker 7: on the ballot in Colorado.
Speaker 4: This was a great day. This was a great night
Speaker 4: our Supreme Court. Hopefully we'll be doing something in terms
Speaker 4: of helping our country and preserving democracy.
Speaker 8: We have to preserve our democracy.
Speaker 7: The next major Republican contest is February twenty fourth in
Speaker 7: South Carolina, Nikki Haley's home state, where she trails Donald
Speaker 7: Trump in the polls by more than thirty points. A
Speaker 7: loss there would be a devastating blow to her campaign,
Speaker 7: even though she says she'll stay in the race through
Speaker 7: Super Tuesday. On March fifth, Amy Moore as Bloomberg Radio.
Speaker 9: All right, Amy, thank you.
Speaker 2: We now turned to Russian President Vladimir Putin in his
Speaker 2: first interview with a Western media figure since the invasion
Speaker 2: of Ukraine two years ago. Putin says Russia has not
Speaker 2: achieved its objectives yet. Bloomberg zed Baxter has the story.
Speaker 4: Putin says the goals have to be met, but then
Speaker 4: offered what he says is the way to stop the fighting.
Speaker 4: In this interview with Tucker Carlson, the message through translation
Speaker 4: directly to the US.
Speaker 3: If you really want to stop fighting, you need to
Speaker 3: stop supplying weapons. It will be over within a few weeks.
Speaker 3: That's it, and then we can agree on some terms.
Speaker 4: The US has rejected the same in the past. The
Speaker 4: war near's the two year mark, and neither side is
Speaker 4: showing any sign of capitulation. At Baxter Bloomberg Radio.
Speaker 1: All right, ed, thanks, So we turned to the markets
Speaker 1: now in a stock cit in record territory, one Wall
Speaker 1: Street firm is issuing caution. Bank of America says the
Speaker 1: stock market is triggering several cell signals. Strategist Michael Hartnett
Speaker 1: says the bank's custom bull and bear indicator rose to
Speaker 1: six point eight. Our reading above eight would suggest the
Speaker 1: bullish trend is run too far, flashing a contrarian signal
Speaker 1: to sell. Harnett was Brownley Barrish on stocks last year,
Speaker 1: a call that did not play out.
Speaker 2: And Karen investors today are awaiting annual revisions to monthly
Speaker 2: inflation data. More on that from Bloomberg's John Tucker, John
Speaker 2: and Nathan.
Speaker 10: After last year's adjustments cast doubt on the Fed's progress
Speaker 10: in taming prices. This could increase or decrease confidence that
Speaker 10: policymakers have in a sustainable return to two percent inflation. Consequently,
Speaker 10: it may affect the timing of the first rate cut.
Speaker 10: Richmond Fed President Thomas Barkin speaking to Bloomberg yesterday about
Speaker 10: inflation reliability. It says, you do have to acknowledge how
Speaker 10: good the inflation data has been the last seven months, I.
Speaker 11: Mean last seven months core inflation one point nine percent.
Speaker 11: That's right on target. That's terrific. All right, And I'm
Speaker 11: not rooting against inflation, but I'm always you know, trust
Speaker 11: but verify, you know, let's make sure that's really right.
Speaker 10: The revisions are out at eight thirty Wall Street time. Well,
Speaker 10: the next key data point will be the regular inflation print.
Speaker 10: We get that on Tuesday. John Tuncker, Bloomberg Radio.
Speaker 1: All right, John, thanks. You want to take a look
Speaker 1: at some stocks that are on the move this morning,
Speaker 1: including Expeedia. Those shares are down fourteen percent in early trading.
Speaker 1: Gross bookings in the fourth quarter, missing analyst estimates, and
Speaker 1: in a mo that caught many analysts by surprise. Expedia
Speaker 1: named Arian Goren as chief executive, succeeding Peter Kern, who's
Speaker 1: been in the role since twenty twenty.
Speaker 2: We're also watching shares of Pinterest, Karen. They're down more
Speaker 2: than eleven percent. Fourth quarter revenue missed analyst estimates at
Speaker 2: the pinboard style search company. The results show a disappointing
Speaker 2: or follow I should say a disappointing report from Snap.
Speaker 2: That company suffered a stock plunge this week after holiday
Speaker 2: season sales miss projections.
Speaker 1: In Europe, Nathan shares Aliel down seven percent sales at
Speaker 1: the French cosmetics group, disappointing investors. The owner of Landcombe
Speaker 1: suffered from a decline in shopping by Chinese travelers.
Speaker 2: And back here in the US, Karen, new rules will
Speaker 2: force hedge funds to share more details about their investment strategies.
Speaker 2: Funds with net assets of at least a half billion
Speaker 2: dollars will be subject to changes, including reporting separately on
Speaker 2: each component of a fund and revealing how they're investing
Speaker 2: in crypto. This is an expansion of the current quarterly
Speaker 2: filing system for big managers. Regulators say it's a better
Speaker 2: way to keep tabs on risk in the financial system.
Speaker 1: Orry Nathan, thanks time now for a look at some
Speaker 1: of the other stories making news around the world. For that,
Speaker 1: we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen.
Speaker 7: A bill that would provide aid for Israel, Ukraine, and
Speaker 7: Taiwan is moving forward in the Senate. Lawmakers voted in
Speaker 7: favor of advancing the foreign aid package after Republicans in
Speaker 7: that same chamber rejected a broader bill including those border
Speaker 7: policy changes. The move means the Senate can begin consideration
Speaker 7: of the ninety five billion dollar package. Former President Donald
Speaker 7: Trump is all but locked up the GLP nomination for
Speaker 7: president after dominating in Nevada. The next major Republican contest
Speaker 7: is February twenty fourth in South Carolina, the home state
Speaker 7: of Nikki Hayley. That's where she served two terms as governor,
Speaker 7: but polls show her trailing Trump by more than thirty points.
Speaker 7: She does have a bus tour through the state for
Speaker 7: the next two weeks, while Trump has a get out
Speaker 7: the vote rally planned near Myrtle Beach, South Carolina. Later
Speaker 7: this weekend, drug company CEOs faced a grilling on Capitol Hill.
Speaker 7: Senators accused them of ripping off off the American people
Speaker 7: by charging more for some of their most popular drugs
Speaker 7: in the US compared to what they charge in other countries.
Speaker 7: Senator Bernie Sanders is chair of the Health, Education, Labor,
Speaker 7: and Pensions Committee.
Speaker 5: According to a recent poll, eighty two percent of Americans
Speaker 5: say the cost of prescription drugs is too high. And
Speaker 5: seventy three percent say that the government is not doing
Speaker 5: enough to regulate drug prices.
Speaker 7: MERK CEO Robert Davis says the industry's charging practices come from,
Speaker 7: in part, the need to fund the research for new treatments.
Speaker 5: Future treatment breakthroughs hinge on what we do now. We
Speaker 5: must hold onto a US pharmaceutical market that is free, competitive,
Speaker 5: and predictable.
Speaker 7: Big pharmacyeos say systems outside the US might have lower prices,
Speaker 7: but patients will have to wait longer for medicines that
Speaker 7: are sometimes never approved our record. Sixty eight million Americans
Speaker 7: are expected to bet on the Super Bowl this Sunday.
Speaker 7: David Schwartz, UNLV professor and gambling historian says it is
Speaker 7: likely because legal sports betting has exploded in popularity.
Speaker 1: It's beyond just something people do.
Speaker 5: It's beyond the activity.
Speaker 8: It's also a cultural pastime.
Speaker 5: In a lot of ways, it's a social thing that
Speaker 5: people do together.
Speaker 7: The number of Americans placing bets on the Kansas City
Speaker 7: Chiefs in San Francisco forty nine ers, is up thirty
Speaker 7: five percent from last year. So far, Schwartz says there
Speaker 7: will probably be more legal bets than at any other
Speaker 7: time in history. Global news twenty four hours a day
Speaker 7: and whenever you want it with Bloomberg News Now. I'm
Speaker 7: Maybe Morris and this is Bloomberg Karen right Amy.
Speaker 1: Thanks. We do bring you news throughout the day right
Speaker 1: here on Bloomberg Radio. But now you can get the
Speaker 1: latest news on demand whenever you want it. Just subscribe
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Speaker 1: for the Bloomberg Sports Update, here's John stash hour Carrod.
Speaker 8: A lot of trade activity in the NBA before yesterday's deadline.
Speaker 8: Philadelphia seventy six per cent Patrick Beverly to Milwaukee for
Speaker 8: Cameron Payne. The Sixers also acquired guard Buddy Healed from Indiana.
Speaker 8: Brooklyn sent Spencer and Dinwoody to Toronto get back Dennis
Speaker 8: Struder and Thady is Young. The Raptors say they will
Speaker 8: wave Dinwoody. The Nets also traded Royce O'Neil to Phoenix
Speaker 8: Dallas traded Grant Williams to Charlotte and return the MAVs
Speaker 8: get back PJ Washington, Seth Curry and a first round
Speaker 8: draft pick. Kelly o'lennock goes from Utah to Toronto for
Speaker 8: a first round pick. Warriors won at Indiana one thirty
Speaker 8: one to one oh nine for Steph Curry forty two points.
Speaker 8: He made eleven three pointers. He had twenty nine points
Speaker 8: by halftime. Cleveland won again one eighteen to ninety five
Speaker 8: at Brooklyn, the Cavs with their second eight game winning
Speaker 8: streak of twenty twenty four. In La, the Lakers unveiled
Speaker 8: the Kobe Bryant statue, and then they lost to Denver
Speaker 8: one fourteen to one oh six.
Speaker 10: Hockey.
Speaker 8: The Bruins of four nine in shutout went over Vancouver.
Speaker 8: That capital is lost at Florida. Florida too. Lamar Jackson
Speaker 8: a near unanimous NFL MVP. The Ravens quarterback got all
Speaker 8: but one first place vote. Cleveland' Kevin Stefanski named Coach
Speaker 8: of the Year. Houston quarterback CJ. Stroud the Rookie of
Speaker 8: the Year. The NFL Hall of Fame class includes Julius Pepper,
Speaker 8: Dwight Freeney, Patrick Willis, Devin Hester, Andre Johnson, Randy Gratis,
Speaker 8: Jar and Steve mcmike John Stashiew were Bloomberg.
Speaker 12: Sports from coast to coast, from New York to San Francisco,
Speaker 12: Boston to Washington, DC nationwide on sirisxam, the Bloomberg Business
Speaker 12: app in Bloomberg dot Com. This is Bloomberg Daybreak.
Speaker 2: Good morning. I'm Nathan Hager. President Biden tried to push
Speaker 2: back hard at the latest questions about his age and
Speaker 2: mental fitness that came out of a special council's report
Speaker 2: that cleared him of charges over his handling of classified documents.
Speaker 2: But at a hastily arranged news conference last night, the
Speaker 2: President may have raised those questions himself with a new
Speaker 2: gaff in real time. For more on this and other
Speaker 2: political stories making news this morning, we were joined by
Speaker 2: Terry Haynes, the founder of Pangaea Policy. Terry, Good morning.
Speaker 2: Of course, the slip up that is getting all the
Speaker 2: attention in news outlets across the country and really around
Speaker 2: the world is the President mixing up Egypt and Mexico
Speaker 2: in a question about Gaza AID at this news conference.
Speaker 2: Is the reaction to this overdone.
Speaker 13: Well? Sure, good good morning. Well, sure it is in
Speaker 13: some ways. I mean, people will always make whatever political
Speaker 13: or personal hey that they want out of this. But
Speaker 13: you know, my view of this is it's a real issue.
Speaker 13: You know, it's the Justice Department Special Council comes out
Speaker 13: with a document that's that says, among other things, that
Speaker 13: Biden's got cognitive issues and that's one reason why they're
Speaker 13: choosing not to prosecute. And then Biden, you know, does
Speaker 13: the snap news conference hours later and compounds the problem
Speaker 13: rather than puts it to bed. So you know, it's
Speaker 13: a real problem. And what he's done is, inadvertently or
Speaker 13: with intent, has made those those cognitive issues a cornerstone
Speaker 13: of the election. And he's also made them a cornerstone
Speaker 13: of geopolitical risk calculus.
Speaker 2: I think that's a pretty strong statement, a geopolitical risk
Speaker 2: calculus that it's raising. That tell me more about why
Speaker 2: you think.
Speaker 13: That very Simply that one of the things that other
Speaker 13: nations around the world, our friends, our foes evaluate in
Speaker 13: US is is our government. How the government works, who's
Speaker 13: at the top of the government, how they operate, why
Speaker 13: they operate that way. It's one thing to see, you know,
Speaker 13: and and all governments do this and evaluate this way.
Speaker 13: I mean, it's one thing to to see Biden's performance
Speaker 13: in news clips, It's one thing to uh to register
Speaker 13: register it from AFAR. But what you had yesterday was
Speaker 13: a very different scenario where you had an army of
Speaker 13: the United States government. And how this is played everywhere
Speaker 13: else in the world is you know, senior official of
Speaker 13: the Biden's own Justice Department saying what he said about
Speaker 13: Biden's cognition, uh, and then having Biden come on and
Speaker 13: demonstrated it at the same time. Uh. That makes the
Speaker 13: I think that makes the world a slightly more dangerous place,
Speaker 13: a slightly more risky place, because what our foes are
Speaker 13: going to take away from that is, uh that Biden's
Speaker 13: not up to it, and his own government knows it.
Speaker 2: And that's the problem that has to be said though, Terry,
Speaker 2: that former President Trump has faced his own questions about
Speaker 2: his mental fitness. Nikki Haley's tried to hammer him on
Speaker 2: that when the former president mixed her up with Nancy Pelosi.
Speaker 2: I mean, what could these questions mean for the presidential
Speaker 2: race going forward?
Speaker 13: Oh? You know, absolutely, I don't mean to I do
Speaker 13: not mean to suggest at all I'm trying to pile
Speaker 13: on here with Biden. I really don't. I frankly, I
Speaker 13: said in my note to to markets that I don't
Speaker 13: agree with the way that what the Special Council did,
Speaker 13: or the way the Special Counsel did it for that matter,
Speaker 13: I think it was absolutely unnecessary. But you know, put
Speaker 13: that aside. Yeah, they're both candidates to have these issues.
Speaker 13: You know, as I think you said a little bit earlier,
Speaker 13: it seems to it seems to have embedded a lot
Speaker 13: more with with Biden than it has with Trump. We'll
Speaker 13: see if you know Trump's Trump's issues which Haley brings out,
Speaker 13: you know, continue, uh, but you know right now that
Speaker 13: Trump people are having a field day on this. Politically,
Speaker 13: I think think what it does for the race, frankly,
Speaker 13: is encourages more people to look for third party candidates.
Speaker 13: There are an awful lot of people out there that
Speaker 13: are prepared to hold their nose and vote for Biden.
Speaker 13: I think in a two or three party race, but
Speaker 13: in a world where the vast majority of people don't
Speaker 13: want to see a Trump versus Biden race anyway, it's
Speaker 13: going to encourage people who may be voting for Biden
Speaker 13: and even probably a few that may want to vote
Speaker 13: for Trump to look at the third party candidates much
Speaker 13: more seriously.
Speaker 9: This is Bloomberg day Break Today, your morning brief on
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