1 00:00:01,720 --> 00:00:04,880 Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg 2 00:00:04,960 --> 00:00:08,399 Speaker 1: day Break for Thursday, December twenty second two. Coming up 3 00:00:08,400 --> 00:00:12,160 Speaker 1: the shower, Mukraine's president leads for more support in person 4 00:00:12,280 --> 00:00:15,360 Speaker 1: to Congress. F t X executives flee guilty as their 5 00:00:15,360 --> 00:00:18,680 Speaker 1: former CEO returns to the US. The largest U S 6 00:00:18,720 --> 00:00:21,360 Speaker 1: ship maker warns more layoffs are on the way and 7 00:00:21,440 --> 00:00:24,640 Speaker 1: investors hold out hope for a brief Santa Claus Rally. 8 00:00:24,760 --> 00:00:27,280 Speaker 1: New York Mayor Adams gives himself a B plus as 9 00:00:27,280 --> 00:00:30,120 Speaker 1: he defends his record on crime plus. The man Charred 10 00:00:30,120 --> 00:00:33,000 Speaker 1: Wood shooting up a Brooklyn subway car will now lead 11 00:00:33,040 --> 00:00:36,000 Speaker 1: guilty on Michael barn Or Ahead, I'm John dash Our. 12 00:00:36,040 --> 00:00:38,320 Speaker 1: In sports, the Knicks Winspy came to an end, easy 13 00:00:38,360 --> 00:00:40,720 Speaker 1: win for the Nets. The Devil's One in the Jets 14 00:00:40,720 --> 00:00:46,720 Speaker 1: host Jacksonville Tonight. That's Alls Training Ahead on Bloomberg day 15 00:00:46,720 --> 00:00:51,640 Speaker 1: Break on Bloomberg eleven three on New York, Bloomberg one, Washington, 16 00:00:51,760 --> 00:00:55,880 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 17 00:00:55,920 --> 00:00:59,640 Speaker 1: San Francisco, Syrius x M one nine Team and around 18 00:00:59,680 --> 00:01:02,560 Speaker 1: the World Old on Bloomberg Radio Dot Carmen via the 19 00:01:02,560 --> 00:01:09,520 Speaker 1: Bloomberg Business app. Good morning, I'm Nathan Hagard and I'm 20 00:01:09,600 --> 00:01:12,760 Speaker 1: Karen Moscow and US Dock index futures are little change 21 00:01:12,840 --> 00:01:15,160 Speaker 1: this morning, and we checked the markets all day long 22 00:01:15,240 --> 00:01:18,240 Speaker 1: year on Bloomberg SNP futures again little change. So were 23 00:01:18,240 --> 00:01:21,720 Speaker 1: in NAZDAC and Dow futures tenure Treasury up stix thirty seconds. 24 00:01:21,760 --> 00:01:23,760 Speaker 1: He on three point six three percent of the yield 25 00:01:23,760 --> 00:01:26,880 Speaker 1: on the two year four point one nine Nathan, Karen. 26 00:01:26,880 --> 00:01:28,960 Speaker 1: We'll get more on markets in a moment, but begin 27 00:01:29,120 --> 00:01:32,360 Speaker 1: We begin this morning with a historic night in Washington. 28 00:01:32,680 --> 00:01:36,440 Speaker 1: The President of Ukraine, Voladimir Zelenski, made an emotional address 29 00:01:36,520 --> 00:01:39,360 Speaker 1: in person to a joint meeting of Congress. We get 30 00:01:39,400 --> 00:01:43,680 Speaker 1: the story from Bloomberg's at Baxter standing ovation after standing 31 00:01:43,680 --> 00:01:47,680 Speaker 1: ovation from both sides of the aisle. The message Ukraine 32 00:01:47,760 --> 00:01:51,680 Speaker 1: is alive and kicking and thanking US families for their support. 33 00:01:51,920 --> 00:01:54,000 Speaker 1: And now what people will have to go to boom 34 00:01:54,160 --> 00:01:58,560 Speaker 1: shelters on Christmas Eve, Ukrainias will still sit down at 35 00:01:58,600 --> 00:02:02,400 Speaker 1: the quality table and cheer up each other. Zelenski says 36 00:02:02,400 --> 00:02:05,120 Speaker 1: a free world will show all potential aggressors that the 37 00:02:05,160 --> 00:02:08,400 Speaker 1: world will stand up to tyranny. He says next year 38 00:02:08,440 --> 00:02:11,079 Speaker 1: will be a turning point of the war. He presented 39 00:02:11,120 --> 00:02:14,720 Speaker 1: Congress with a flag from the war's front in San Francisco. 40 00:02:14,760 --> 00:02:17,280 Speaker 1: I'm at bachetor Bloomberg daybreak, all right, ed, thank you know. 41 00:02:17,320 --> 00:02:20,800 Speaker 1: This was President Zelenski's first trip outside his country since 42 00:02:20,880 --> 00:02:25,160 Speaker 1: Russia's invasion back in February. Before the speech, the president 43 00:02:25,160 --> 00:02:27,840 Speaker 1: paid a visit to the White House, where President Biden 44 00:02:27,919 --> 00:02:31,160 Speaker 1: stood alongside Zelenski at a joint news conference to pledge 45 00:02:31,200 --> 00:02:33,880 Speaker 1: his continued support. I want you to know that all 46 00:02:33,919 --> 00:02:36,760 Speaker 1: the people who Ukraine to know as well the American 47 00:02:36,800 --> 00:02:39,160 Speaker 1: people were with you every step of the way, and 48 00:02:39,200 --> 00:02:41,560 Speaker 1: we will stay with you. We will stay with you 49 00:02:41,919 --> 00:02:44,400 Speaker 1: for as long as it takes. And the Biden administration 50 00:02:44,440 --> 00:02:47,320 Speaker 1: also announced nearly one point nine billion dollars in additional 51 00:02:47,320 --> 00:02:50,960 Speaker 1: military aid to Ukraine, including a Patriot missile battery. Russian 52 00:02:51,040 --> 00:02:55,240 Speaker 1: President Vladimir Putin meanwhile said Russia has no limitations on 53 00:02:55,280 --> 00:02:58,640 Speaker 1: its own military spending to continue the war. Well, Nathan, 54 00:02:58,639 --> 00:03:01,200 Speaker 1: We're following another story at d C this morning. A 55 00:03:01,200 --> 00:03:04,160 Speaker 1: group of House Republicans has released a counter report to 56 00:03:04,240 --> 00:03:08,840 Speaker 1: the House Select Committee's investigation into the January six Capital assault. 57 00:03:09,080 --> 00:03:12,640 Speaker 1: The seventy eight page report partly blames Democratic leaders for 58 00:03:12,720 --> 00:03:16,679 Speaker 1: security failures and says intelligence and law enforcement failures left 59 00:03:16,680 --> 00:03:20,520 Speaker 1: the Capital complex vulnerable. The January six committee is expected 60 00:03:20,520 --> 00:03:23,079 Speaker 1: to release it's full report today. All right, let's turn 61 00:03:23,120 --> 00:03:25,840 Speaker 1: from the Capital to Crypto. Kareny hit the latest on 62 00:03:25,880 --> 00:03:29,960 Speaker 1: the ft X collapse. Two top executives have pleaded guilty 63 00:03:30,000 --> 00:03:32,959 Speaker 1: to criminal charges. As the former CEO of f t X, 64 00:03:33,040 --> 00:03:37,200 Speaker 1: Sam Bankman Freed, returns to the US, Bloomberg Steve Rappaport 65 00:03:37,280 --> 00:03:39,800 Speaker 1: joins US Live with that story. Good morning, Steve, Good morning, 66 00:03:39,880 --> 00:03:43,240 Speaker 1: Nathan and Karen. Spf found himself with fewer friends upon 67 00:03:43,320 --> 00:03:45,960 Speaker 1: arriving in New York last night, as Caroline Ellison and 68 00:03:45,960 --> 00:03:49,080 Speaker 1: Gary Wang pled guilty to fraud. The plea agreements say 69 00:03:49,080 --> 00:03:53,320 Speaker 1: prosecutors will recommend reduced sentences if they provide substantial assistance 70 00:03:53,360 --> 00:03:56,160 Speaker 1: to the investigation. The move puts pressure on Bankman Freed 71 00:03:56,160 --> 00:03:58,520 Speaker 1: ahead of his appearance in federal court today on charges 72 00:03:58,560 --> 00:04:02,040 Speaker 1: of fraud, money laundering, another counts. His lawyers may seek bail. 73 00:04:02,320 --> 00:04:05,720 Speaker 1: Live in New York, I'm Steve Rappaport, Bloomberg Daybreak, right, Steve, 74 00:04:05,760 --> 00:04:08,040 Speaker 1: Thank you have it. Pivot away from COVID to zero 75 00:04:08,120 --> 00:04:11,320 Speaker 1: continues in China. This morning, we're learning China plans to 76 00:04:11,360 --> 00:04:15,680 Speaker 1: cut quarantine requirements for overseas travelers in January. Sources tell 77 00:04:15,760 --> 00:04:19,120 Speaker 1: US officials are considering a zero plus three policy that 78 00:04:19,160 --> 00:04:21,799 Speaker 1: would mean tourists would no longer be required to spend 79 00:04:21,839 --> 00:04:26,279 Speaker 1: time in a quarantine hotel or isolation facility, and arrivals 80 00:04:26,279 --> 00:04:29,320 Speaker 1: into the country instead or subject to three days of monitoring. 81 00:04:29,600 --> 00:04:31,760 Speaker 1: All right, let's take a look at markets now. Karen 82 00:04:31,839 --> 00:04:35,160 Speaker 1: futures are little changed this morning, but global stocks did 83 00:04:35,200 --> 00:04:38,120 Speaker 1: advance for a third day yesterday as we edge closer 84 00:04:38,160 --> 00:04:41,680 Speaker 1: to the Christmas holiday. US shares climbed on improved consumer 85 00:04:41,720 --> 00:04:44,880 Speaker 1: confidence and better than expected earnings from FedEx and Nike. 86 00:04:45,279 --> 00:04:48,120 Speaker 1: Earlier this week, markets snapped a four day slide sparked 87 00:04:48,160 --> 00:04:51,680 Speaker 1: by hawkish central bank rhetoric. In Asia, Nathan stocks have 88 00:04:51,720 --> 00:04:53,760 Speaker 1: snapped a losing streak of their own, coming off the 89 00:04:53,760 --> 00:04:56,480 Speaker 1: Bank of japan surprise policy move earlier this week, and 90 00:04:56,520 --> 00:04:59,560 Speaker 1: Bloomberg's Brian Curtis joins US from Hong Kong with more 91 00:05:00,080 --> 00:05:03,560 Speaker 1: stocks rallied in Asia, snapping five days of declines The 92 00:05:03,600 --> 00:05:06,360 Speaker 1: biggest moves were in Hong Kong, where the benchmark index 93 00:05:06,480 --> 00:05:09,279 Speaker 1: rose about two and a half percent. Property companies led 94 00:05:09,279 --> 00:05:12,600 Speaker 1: the way after regulators said they'd support the sector's growth. 95 00:05:12,800 --> 00:05:16,800 Speaker 1: Shares also jumped in Japan, South Korea and Australia. Trasuries 96 00:05:16,920 --> 00:05:19,240 Speaker 1: rose slightly in Asia as the fallout from the Bank 97 00:05:19,240 --> 00:05:23,240 Speaker 1: of japan surprise policy shift began to ebb the en 98 00:05:23,680 --> 00:05:27,559 Speaker 1: resumed its advance. Brian Curtis Bloomberg Day Break, All Right, Brian, 99 00:05:27,600 --> 00:05:31,120 Speaker 1: thanks Meanwhile over in Europe, UK household southern living standards 100 00:05:31,160 --> 00:05:34,080 Speaker 1: fall amid a contraction in the third quarter. Bloomberg's You 101 00:05:34,200 --> 00:05:36,400 Speaker 1: and Potts joins us live from London with that good 102 00:05:36,400 --> 00:05:39,480 Speaker 1: morning and good morning, Nathan and Karen. Household incomes in 103 00:05:39,520 --> 00:05:42,440 Speaker 1: the UK have fallen for a fourth straight quarter, leaving 104 00:05:42,440 --> 00:05:45,160 Speaker 1: Britain's on course for the worst period for living standards 105 00:05:45,240 --> 00:05:48,680 Speaker 1: in memory. Real incomes behead were three point one percent 106 00:05:48,760 --> 00:05:51,880 Speaker 1: lower in the third quarter from a year earlier. Final 107 00:05:51,960 --> 00:05:54,960 Speaker 1: GDP day to meanwhile registered a no point three percent 108 00:05:55,080 --> 00:05:58,440 Speaker 1: drop in the latest quarter, more than previously estimated. The 109 00:05:58,480 --> 00:06:01,360 Speaker 1: reading is consistent with the quantum expectations that the UK 110 00:06:01,720 --> 00:06:05,720 Speaker 1: is already in recession. In London, Immune Paul daybreak, all right, 111 00:06:05,760 --> 00:06:08,440 Speaker 1: you and thank you, while taking a look at corporate news. Now, 112 00:06:08,480 --> 00:06:11,919 Speaker 1: America's largest memory chip maker, Micron Technology, is out with 113 00:06:11,960 --> 00:06:14,920 Speaker 1: a lackluster revenue outlook and a warning that it will 114 00:06:15,000 --> 00:06:17,839 Speaker 1: have to trim its work force. S. Bloomberg's Dot Prisner 115 00:06:17,920 --> 00:06:21,080 Speaker 1: joins us with that story. The company is already pledged 116 00:06:21,080 --> 00:06:24,360 Speaker 1: to reduce output in slow expansion projects as a way 117 00:06:24,400 --> 00:06:28,040 Speaker 1: of limiting the availability of memory chips. Even so, Micron's 118 00:06:28,080 --> 00:06:31,560 Speaker 1: forecast indicates the glut may drag on given a slump 119 00:06:31,560 --> 00:06:35,440 Speaker 1: in demand. Sales will be about eighty million dollars below forecast, 120 00:06:35,680 --> 00:06:38,479 Speaker 1: and Micron is projecting a loss of about sixty two 121 00:06:38,480 --> 00:06:42,080 Speaker 1: cents to share excluding certain items. That's more than twice 122 00:06:42,120 --> 00:06:46,120 Speaker 1: what analysts were estimating. Given these challenges, Micron will reduce 123 00:06:46,120 --> 00:06:48,960 Speaker 1: its workforce by about ten percent over the next year. 124 00:06:49,400 --> 00:06:52,159 Speaker 1: In New York, I'm Doug Prisoner Bloomberg Daybreak, All right, Doug, 125 00:06:52,240 --> 00:06:54,880 Speaker 1: thank you again. Futures this morning or little chain straight ahead, 126 00:06:54,880 --> 00:06:57,719 Speaker 1: your latest local headlines plus a check of sports, and 127 00:06:57,960 --> 00:07:04,960 Speaker 1: this is Bloomberg, Right, Karen, thank you. Thirty five degrees 128 00:07:05,080 --> 00:07:07,520 Speaker 1: in Central Park. It's gonna turn rainy and windy this 129 00:07:07,600 --> 00:07:10,480 Speaker 1: afternoon and into tomorrow. Highs today in the upper forties, 130 00:07:10,520 --> 00:07:13,080 Speaker 1: and temperatures will rise through the night as a wind 131 00:07:13,120 --> 00:07:15,920 Speaker 1: advisory kicks in. Attend this evening time me take a 132 00:07:15,920 --> 00:07:17,480 Speaker 1: look at some of the other stories making news in 133 00:07:17,480 --> 00:07:19,840 Speaker 1: New York and around the world with bloomberg S Michael 134 00:07:19,840 --> 00:07:22,840 Speaker 1: bar Good morning, Michael, Good morning, Nathan. And as you mentioned, 135 00:07:22,920 --> 00:07:26,040 Speaker 1: that's the problem. Millions of Americans taking to the roads 136 00:07:26,040 --> 00:07:29,400 Speaker 1: and skies before Christmas could face big trouble getting to 137 00:07:29,440 --> 00:07:33,000 Speaker 1: their destinations on time because of a massive winter storm. 138 00:07:33,160 --> 00:07:36,040 Speaker 1: Several major hubs, including New York City, are all in 139 00:07:36,080 --> 00:07:39,920 Speaker 1: the path of the storm and face significant disruptions. This 140 00:07:39,960 --> 00:07:42,840 Speaker 1: man was headed to Orlando from New York, trying to 141 00:07:42,840 --> 00:07:45,200 Speaker 1: get out ahead of the storm to see his family. 142 00:07:45,440 --> 00:07:50,760 Speaker 1: We're gonna be ready for a long time. He should 143 00:07:50,760 --> 00:07:57,840 Speaker 1: have been California before. We're gonna night again Christmas. It's 144 00:07:57,840 --> 00:08:01,320 Speaker 1: not just flights being canceled. A rack has scraps service 145 00:08:01,400 --> 00:08:04,720 Speaker 1: for dozens of routes. New York City Mayor Eric Adams 146 00:08:04,800 --> 00:08:08,200 Speaker 1: defended his record on crime, giving himself a B plus. 147 00:08:08,640 --> 00:08:11,520 Speaker 1: In his first year in office, there was a rise 148 00:08:11,560 --> 00:08:16,160 Speaker 1: in major felonies through December, but Adams says through the 149 00:08:16,200 --> 00:08:19,680 Speaker 1: top line numbers, they do not tell the whole story, 150 00:08:19,880 --> 00:08:23,200 Speaker 1: as we highlighted double digit drops in the high profile 151 00:08:23,280 --> 00:08:26,600 Speaker 1: murders and shootings. Public safety is the foundation of the city. 152 00:08:26,720 --> 00:08:28,960 Speaker 1: I've used this term over and over again. It's the 153 00:08:29,080 --> 00:08:33,959 Speaker 1: prerequisite to prosperity. Without it, we won't feel the safety 154 00:08:33,960 --> 00:08:37,040 Speaker 1: we deserved. Mayor Adams went on to say that New 155 00:08:37,120 --> 00:08:39,880 Speaker 1: Yorkers should feel better about the direction we are headed. 156 00:08:40,520 --> 00:08:42,880 Speaker 1: A New York City court has scheduled a change of 157 00:08:43,000 --> 00:08:45,560 Speaker 1: plea hearing for next month for the man accused of 158 00:08:45,600 --> 00:08:49,199 Speaker 1: opening fire on a Manhattan bound subway train last April. 159 00:08:49,559 --> 00:08:52,160 Speaker 1: In a letter to the court, his attorney said the 160 00:08:52,200 --> 00:08:56,320 Speaker 1: alleged New York City subway shooter, Frank James, wants to 161 00:08:56,320 --> 00:09:00,240 Speaker 1: plead guilty to federal terrorism charges. James was sharp with 162 00:09:00,280 --> 00:09:02,880 Speaker 1: several counts of committing a terror attack on a mass 163 00:09:02,880 --> 00:09:06,520 Speaker 1: transit system. Ten people were hurt in the shooting. Final 164 00:09:06,720 --> 00:09:10,680 Speaker 1: CDC data confirms American life expectancy fell for a second 165 00:09:10,720 --> 00:09:14,920 Speaker 1: straight year in twenty twenty one, the worst since it's 166 00:09:15,000 --> 00:09:19,480 Speaker 1: driven by accelerating COVID and drug overdose DUTs for the men, 167 00:09:19,920 --> 00:09:23,000 Speaker 1: it has dropped from seventy four point two years to 168 00:09:23,080 --> 00:09:26,480 Speaker 1: seventy three point five years. For women, it's from seventy 169 00:09:26,559 --> 00:09:29,679 Speaker 1: nine point nine to seventy nine point three. Global News 170 00:09:29,679 --> 00:09:32,880 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 171 00:09:33,200 --> 00:09:36,160 Speaker 1: powered by more than twenty seven hundred journalists and analysts 172 00:09:36,240 --> 00:09:39,480 Speaker 1: more than a hundred twenty countries. Michael barn this is Bloomberg, Nathan. 173 00:09:39,600 --> 00:09:46,760 Speaker 1: Thanks Michael. Time now for our Bloomberg Sports update, brought 174 00:09:46,760 --> 00:09:48,640 Speaker 1: to you if I try stayed out em Morney John 175 00:09:48,720 --> 00:09:52,000 Speaker 1: Stanshower in the morning, Nathan, one winning streak ended, another 176 00:09:52,120 --> 00:09:56,040 Speaker 1: continued At the Garden, Nicks couldn't stop Toronto's Pascal Siakaman 177 00:09:56,160 --> 00:09:58,880 Speaker 1: poured in fifty two points the Raptors, and in their 178 00:09:59,320 --> 00:10:02,000 Speaker 1: six game losing streak one thirteen one on six, Julius 179 00:10:02,080 --> 00:10:04,559 Speaker 1: Randall R. J. Barrett both had thirty points with the Knicks, 180 00:10:04,559 --> 00:10:07,360 Speaker 1: who had won their previous eight. In Brooklyn, the Nets 181 00:10:07,400 --> 00:10:10,120 Speaker 1: win streak up to seven one forty three to one 182 00:10:10,200 --> 00:10:14,720 Speaker 1: thirteen over struggling Golden State. The Nets led one fifty 183 00:10:14,760 --> 00:10:17,559 Speaker 1: one at halftime, ninety one first half points, third most 184 00:10:17,880 --> 00:10:20,520 Speaker 1: in NBA history. The Devil's three goals third period to 185 00:10:20,559 --> 00:10:23,920 Speaker 1: win four two at Florida. That ends there six games slide. St. 186 00:10:23,960 --> 00:10:27,080 Speaker 1: John's lost at Villanova's seventy eight to sixty three. If 187 00:10:27,080 --> 00:10:29,040 Speaker 1: the Jets have any hopes of making the playoffs, they 188 00:10:29,080 --> 00:10:31,840 Speaker 1: have to win tonight in the rain at Met Life. 189 00:10:31,880 --> 00:10:35,280 Speaker 1: Jacksonville comes in much improved, led by quarterback Trevor Lawrence. 190 00:10:35,280 --> 00:10:37,559 Speaker 1: They're only a game out of first in the a 191 00:10:37,720 --> 00:10:40,240 Speaker 1: s C South. The Jets are came out for making 192 00:10:40,280 --> 00:10:42,560 Speaker 1: it as a wild card. Four members of the Jets 193 00:10:42,559 --> 00:10:45,439 Speaker 1: defense named as Pro Bowlers. They still named the rosters 194 00:10:45,480 --> 00:10:49,160 Speaker 1: even though they're no longer a Pro Bowl game. Quentin Williams, C. J. Mosley, 195 00:10:49,240 --> 00:10:52,120 Speaker 1: Justin Hardy and Sauce Gardner is the first Jet rookie 196 00:10:52,120 --> 00:10:55,840 Speaker 1: Pro Bowlers since eight. Tae Kwon Barkley and Dexter Lawrence 197 00:10:55,960 --> 00:10:59,040 Speaker 1: named from the Giants. Philadelphia has eight Pro Bowlers. Dallas 198 00:10:59,080 --> 00:11:01,920 Speaker 1: in Kansas City had seven. When you saw that Derek 199 00:11:02,000 --> 00:11:05,000 Speaker 1: Jeter was in attendance that the Aaron Judge New Contract 200 00:11:05,080 --> 00:11:07,679 Speaker 1: press conference, you knew there would be an announcement that 201 00:11:07,800 --> 00:11:10,360 Speaker 1: Judge would be the first Yankee captain since Jeter. I'm 202 00:11:10,360 --> 00:11:12,280 Speaker 1: gonna continue to try to be you know, the same 203 00:11:12,400 --> 00:11:15,280 Speaker 1: leader that I've been in the past six years. Continue 204 00:11:15,280 --> 00:11:17,800 Speaker 1: to lead by example, and I know there's probably gonna 205 00:11:17,800 --> 00:11:20,599 Speaker 1: be a couple of more responsibilities with this, but you 206 00:11:20,640 --> 00:11:23,280 Speaker 1: know I'm here to embrace every single obstacle and you know, 207 00:11:23,360 --> 00:11:25,240 Speaker 1: continue to lead this team and lead the city to 208 00:11:26,400 --> 00:11:29,040 Speaker 1: to not one of them, you know, multiple championships down 209 00:11:29,080 --> 00:11:33,800 Speaker 1: the road. Six Captain and Yankee District. Bomberg All right, John, 210 00:11:33,840 --> 00:11:36,480 Speaker 1: thank you. Boomberg Sports was brought to you by Audie. 211 00:11:36,520 --> 00:11:38,480 Speaker 1: Don't let someone else drive off in the outie model. 212 00:11:38,559 --> 00:11:41,079 Speaker 1: You've always wanted to visit your local price state autie 213 00:11:41,120 --> 00:11:43,480 Speaker 1: dealer to get behind the wheel of yours today, or 214 00:11:43,640 --> 00:11:46,640 Speaker 1: visit autie Offers dot com for more information. We get 215 00:11:46,679 --> 00:11:51,200 Speaker 1: more reaction to President Zelenski's visit to Washington. Next first 216 00:11:51,520 --> 00:11:55,120 Speaker 1: futures of taking a leg a little change now giving 217 00:11:55,200 --> 00:11:57,760 Speaker 1: up the game's SMP futures right now are down by 218 00:11:58,280 --> 00:12:05,280 Speaker 1: one point. Live from coast to coast, from New York 219 00:12:05,360 --> 00:12:09,199 Speaker 1: to San Francisco, Boston to Washington, d C. Nationwide on 220 00:12:09,360 --> 00:12:12,719 Speaker 1: Sirius Examp, the Bloomberg Business App, and Bloomberg dot Com. 221 00:12:13,160 --> 00:12:17,840 Speaker 1: This is Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's 222 00:12:17,880 --> 00:12:19,920 Speaker 1: get back to our top story this morning. It was 223 00:12:20,000 --> 00:12:24,400 Speaker 1: a dramatic night on Capitol Hill Ukrainian President Voladimir Zelinski 224 00:12:24,559 --> 00:12:27,679 Speaker 1: urging lawmakers in the US to keep up their support 225 00:12:27,760 --> 00:12:31,079 Speaker 1: for his country in person before a joint meeting of 226 00:12:31,160 --> 00:12:37,439 Speaker 1: Congress against all and doom and gloom scenarious. Yukraine didn't fall. 227 00:12:38,280 --> 00:12:44,280 Speaker 1: Yugrain is alive and keating. And we're joined now by 228 00:12:44,440 --> 00:12:48,079 Speaker 1: Terry Haines, the founder of Pangaea Policy. Terry, quite a 229 00:12:48,160 --> 00:12:51,839 Speaker 1: moment on Capitol Hill last night, your reaction to what 230 00:12:52,000 --> 00:12:56,040 Speaker 1: we heard, what we saw from Ukrainian president's lane scheme, 231 00:12:57,559 --> 00:13:00,240 Speaker 1: Good morning, Nathan, And it was quite a moment uh 232 00:13:01,679 --> 00:13:05,520 Speaker 1: of you know, sort of mutual thanking, mutual support, mutual 233 00:13:05,640 --> 00:13:09,360 Speaker 1: respect and regard. All those things are very good. Uh. 234 00:13:09,679 --> 00:13:13,040 Speaker 1: You know, we get past that into uh the really 235 00:13:13,160 --> 00:13:16,040 Speaker 1: cold light of morning. Uh, certainly on the US East 236 00:13:16,080 --> 00:13:20,880 Speaker 1: coast of what you're gonna see is that also one 237 00:13:20,920 --> 00:13:23,840 Speaker 1: of the things that the President Biden said to Zelenski 238 00:13:23,920 --> 00:13:26,679 Speaker 1: into the American public is that then you know, there 239 00:13:26,720 --> 00:13:30,640 Speaker 1: won't be any advanced weapons beyond the Patriot missile battery 240 00:13:30,720 --> 00:13:35,360 Speaker 1: because to do so risks US alliances quote unquote. Uh, 241 00:13:35,520 --> 00:13:40,360 Speaker 1: there's also continuing interest in what the administration thinks to 242 00:13:40,800 --> 00:13:44,480 Speaker 1: be its endgame. Uh. You know, the Russia continues to 243 00:13:44,559 --> 00:13:49,439 Speaker 1: talk about the potential for settlement those the potential isn't realistic, 244 00:13:50,280 --> 00:13:53,880 Speaker 1: but you know, you have to wonder what Washington thinks 245 00:13:53,920 --> 00:13:57,480 Speaker 1: its endgame is and whether it might be enticed by 246 00:13:58,720 --> 00:14:01,720 Speaker 1: by the prospect of a set littlement were And of course, 247 00:14:01,760 --> 00:14:05,000 Speaker 1: as everybody knows, since we're a long way from resolution 248 00:14:05,120 --> 00:14:08,200 Speaker 1: on the battlefield, uh, you know, that might well look 249 00:14:08,600 --> 00:14:11,520 Speaker 1: more tempting to the Western allies as time goes on. 250 00:14:12,160 --> 00:14:17,720 Speaker 1: Uh So uh, entirely legitimate feel good movement moment here, 251 00:14:18,040 --> 00:14:21,280 Speaker 1: uh and for all kinds of you know, important reasons. 252 00:14:21,560 --> 00:14:23,760 Speaker 1: But at the same time, you know, at the end 253 00:14:23,800 --> 00:14:26,600 Speaker 1: of the day, not really much has changed your going forward. 254 00:14:26,840 --> 00:14:29,440 Speaker 1: So you don't think that the president's message is going 255 00:14:29,520 --> 00:14:33,640 Speaker 1: to change many minds then, particularly among the Republicans, who 256 00:14:33,760 --> 00:14:36,560 Speaker 1: have said that once they take control of Congress, if 257 00:14:36,640 --> 00:14:40,800 Speaker 1: not to continue support for Ukraine at least to give 258 00:14:40,880 --> 00:14:46,280 Speaker 1: it more of a skeptical eye or at least more scrutiny. Well, 259 00:14:46,360 --> 00:14:48,520 Speaker 1: I think, you know, let me put it this way, 260 00:14:48,560 --> 00:14:53,000 Speaker 1: I think it's uh, you know, it's uh well, on 261 00:14:53,080 --> 00:14:56,920 Speaker 1: the one hand, politics is being played here and you know, shocker, right, 262 00:14:57,080 --> 00:15:01,080 Speaker 1: but uh, you know, all the way around. In the end, 263 00:15:01,240 --> 00:15:04,800 Speaker 1: what Republicans have wanted for some time and continue to want, 264 00:15:05,400 --> 00:15:09,880 Speaker 1: uh fundamentally is for for accountability for the money that's 265 00:15:09,880 --> 00:15:13,000 Speaker 1: already gone out, the account of accountability for the money 266 00:15:13,440 --> 00:15:15,840 Speaker 1: that you know will go out with the with the 267 00:15:15,920 --> 00:15:19,720 Speaker 1: new Omnibus and the new Ukraine package. Uh. That's all fair. 268 00:15:19,800 --> 00:15:22,480 Speaker 1: I mean, that's part of what Congress's job is supposed 269 00:15:22,560 --> 00:15:25,800 Speaker 1: to be is to you know, make make decisions on 270 00:15:26,360 --> 00:15:32,880 Speaker 1: appropriations for for national defense, emergency appropriations for uh, important 271 00:15:32,880 --> 00:15:36,680 Speaker 1: things like Ukraine. But at the same time, you know 272 00:15:36,800 --> 00:15:39,880 Speaker 1: that what they really want is accountability. They should get that. 273 00:15:40,040 --> 00:15:42,680 Speaker 1: The Biden people should should prepare to give them a 274 00:15:42,760 --> 00:15:45,440 Speaker 1: good deal of that, and frankly President Zelenski should be 275 00:15:45,840 --> 00:15:47,840 Speaker 1: prepared to give them some of that. I think you 276 00:15:47,920 --> 00:15:51,440 Speaker 1: will see a great deal of unit continued, great deal 277 00:15:51,520 --> 00:15:55,800 Speaker 1: of unanimity on on Ukraine, and that what ends up 278 00:15:55,880 --> 00:16:02,000 Speaker 1: happening here is a more regularized process US for understanding 279 00:16:02,320 --> 00:16:04,800 Speaker 1: what United States money is being used for. And that's 280 00:16:05,200 --> 00:16:07,440 Speaker 1: you know, I consider that fair. You got about a 281 00:16:07,440 --> 00:16:09,800 Speaker 1: minute left here, Terry, do you think this omnibus bill 282 00:16:09,880 --> 00:16:12,200 Speaker 1: gets passed before the end of this week? There's been 283 00:16:12,360 --> 00:16:19,320 Speaker 1: some dispute over Title forty two being included in the package. Oh, sure, 284 00:16:19,400 --> 00:16:23,320 Speaker 1: I think it does. Yeah. Uh. The Supreme Court has 285 00:16:23,400 --> 00:16:26,400 Speaker 1: certainly has the opportunity to to to throw a standard 286 00:16:26,440 --> 00:16:30,920 Speaker 1: and the works on this. But I think that fundamentally, uh, 287 00:16:31,280 --> 00:16:34,160 Speaker 1: you know, this omnibus is going to pass. Uh. I'd 288 00:16:34,160 --> 00:16:36,600 Speaker 1: say there's probably about a ten percent right now, because 289 00:16:36,640 --> 00:16:39,920 Speaker 1: we talk about ten percent chance that it won't. But uh, 290 00:16:40,120 --> 00:16:43,040 Speaker 1: fundamentally I think it will. Um. I do think the 291 00:16:43,920 --> 00:16:45,640 Speaker 1: Congress is going to have to be back at it 292 00:16:45,720 --> 00:16:48,400 Speaker 1: early in the year, regardless after the Supreme Court rules 293 00:16:48,440 --> 00:16:50,880 Speaker 1: on whether or not Title forty two should go forward. 294 00:16:51,800 --> 00:16:53,840 Speaker 1: So just quickly, when it comes to Ukraine, what do 295 00:16:53,880 --> 00:16:56,800 Speaker 1: you see as the trajectory for continued support in terms 296 00:16:56,880 --> 00:17:00,360 Speaker 1: of weaponry for Ukraine in the next Congress? Only about 297 00:17:00,400 --> 00:17:03,200 Speaker 1: thirty seconds left here. Yeah, I I think that the 298 00:17:03,360 --> 00:17:07,920 Speaker 1: trajectory for for Ukraine weaponry is really that, you know, 299 00:17:08,000 --> 00:17:10,640 Speaker 1: we we will continue to provide what we're already providing. 300 00:17:11,160 --> 00:17:13,600 Speaker 1: We will continue to provide the Patriot missile battery that 301 00:17:13,640 --> 00:17:16,000 Speaker 1: we said we would provide. I understand that that will 302 00:17:16,040 --> 00:17:19,119 Speaker 1: take some time to train the Ukrainians up on. But 303 00:17:19,280 --> 00:17:23,719 Speaker 1: I do not expect that we're going to expand UH 304 00:17:23,800 --> 00:17:27,280 Speaker 1: into giving Ukrainians advanced weaponry. But because that's what the 305 00:17:27,320 --> 00:17:30,680 Speaker 1: president said yesterday. All right, Terry, thanks as always, good 306 00:17:30,760 --> 00:17:33,679 Speaker 1: gates your thoughts, particularly on a morning after a historic 307 00:17:33,920 --> 00:17:37,480 Speaker 1: night like we just had experienced. Here. Terry Haynes, the 308 00:17:37,520 --> 00:17:39,840 Speaker 1: founder of Pangea Policy with us this morning, and we're 309 00:17:39,840 --> 00:17:43,320 Speaker 1: gonna bring you more reaction to the Ukrainian president's appearance 310 00:17:43,400 --> 00:17:48,080 Speaker 1: in Washington. Michigan Democrat Dan killed these thoughts straight ahead 311 00:17:48,400 --> 00:17:51,359 Speaker 1: here on Bloomberg Daybreak, looking ahead to the market open. 312 00:17:52,000 --> 00:17:54,959 Speaker 1: Futures are turning just a touchflower now, with SMP futures 313 00:17:55,000 --> 00:17:57,399 Speaker 1: down four point, staff futures down thirty eight, in NASTAIC 314 00:17:57,480 --> 00:18:03,240 Speaker 1: futures down nine points. This is gloom Markets headlines and 315 00:18:03,440 --> 00:18:06,640 Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com, 316 00:18:06,840 --> 00:18:10,399 Speaker 1: the Bloomberg Business and at Bloomberg Quicktape. This is a 317 00:18:10,480 --> 00:18:19,960 Speaker 1: Bloomberg Business lash and I'm Karen Moscow. US dock index 318 00:18:20,040 --> 00:18:23,159 Speaker 1: futures are a little changed to lower this morning and 319 00:18:23,240 --> 00:18:26,879 Speaker 1: European shares ever raised their games. We checked the markets 320 00:18:26,880 --> 00:18:30,160 Speaker 1: all day long year on Bloomberg Rankio again, SNP, NASDAC 321 00:18:30,240 --> 00:18:33,480 Speaker 1: and down futures pretty much little change now. Future is 322 00:18:33,520 --> 00:18:35,359 Speaker 1: now down about a tenth of upper cent or thirty 323 00:18:35,400 --> 00:18:37,560 Speaker 1: three points. The decks in Germany is down about two 324 00:18:37,640 --> 00:18:40,200 Speaker 1: tents of a per cent ten. Your treasury up four 325 00:18:40,280 --> 00:18:42,440 Speaker 1: thirty seconds. You have three point six four percent. The 326 00:18:42,520 --> 00:18:44,840 Speaker 1: yield on a two year four point one nine percent. 327 00:18:45,280 --> 00:18:47,800 Speaker 1: NIMEX screwed oil is at one point seven percent, up 328 00:18:47,800 --> 00:18:49,919 Speaker 1: a dollar twenty nine at seventy nine dollars fifty eight 329 00:18:50,000 --> 00:18:52,960 Speaker 1: cents of barrel comic school. Little change is at eighteen 330 00:18:53,040 --> 00:18:56,000 Speaker 1: twenty four or forty announced. The euro one point oh 331 00:18:56,080 --> 00:18:58,320 Speaker 1: six four or five against the dollar, British bound one 332 00:18:58,320 --> 00:19:01,000 Speaker 1: point two zero nine one, the had one thirty two, 333 00:19:01,680 --> 00:19:05,159 Speaker 1: and bitcoin is up three tents of a percent. It's 334 00:19:05,200 --> 00:19:08,159 Speaker 1: at about sixteen thou eight hundred fifty dollars. That's a 335 00:19:08,200 --> 00:19:11,080 Speaker 1: Bloomberg business flash. Now here's Michael Barr with Moore on 336 00:19:11,200 --> 00:19:14,040 Speaker 1: what's going on around the world. Michael, good morning, Good morning, Karen. 337 00:19:14,200 --> 00:19:17,639 Speaker 1: Ukrainian President Voladimir Zelenski has paid a wartime visit to 338 00:19:17,720 --> 00:19:20,600 Speaker 1: Washington to thank Americans for helping to fund the war 339 00:19:20,680 --> 00:19:23,560 Speaker 1: against Russia, and a speech to Congress, he said the 340 00:19:23,640 --> 00:19:26,960 Speaker 1: money is not charity, by that investment in global security 341 00:19:27,080 --> 00:19:31,560 Speaker 1: and democracy. Americans traveling before Christmas could face big trouble 342 00:19:31,680 --> 00:19:34,959 Speaker 1: getting to their destinations on time because of a massive 343 00:19:34,960 --> 00:19:39,200 Speaker 1: winter storm. China plans to cut quarantine requirements for overseas 344 00:19:39,240 --> 00:19:42,400 Speaker 1: travelers in January. According to people familiar with the matter, 345 00:19:42,480 --> 00:19:45,840 Speaker 1: there will be no more hotel quarantines. In the NBA. 346 00:19:46,000 --> 00:19:49,480 Speaker 1: The next loss, the Nets down the Warriors one thirteen 347 00:19:49,760 --> 00:19:52,840 Speaker 1: in the NHL, The Devil's Won. Global news twenty four 348 00:19:52,880 --> 00:19:55,600 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 349 00:19:55,640 --> 00:19:58,800 Speaker 1: by more than twenty undred journalists and analysts and more 350 00:19:58,800 --> 00:20:01,680 Speaker 1: than a hundred twenty country Michael Barr, this is Bloomberg. 351 00:20:01,760 --> 00:20:03,800 Speaker 1: Nathan all right, Michael, thank you. It's five twenty three 352 00:20:03,840 --> 00:20:06,480 Speaker 1: on Wall Street. I'm Nathan Hagar. This is Bloomberg day Break. 353 00:20:06,520 --> 00:20:08,720 Speaker 1: Let's turn to another major story in Washington, d C. 354 00:20:09,000 --> 00:20:13,320 Speaker 1: From Ukraine's president visiting to former President Trump's tax returns. 355 00:20:13,480 --> 00:20:16,119 Speaker 1: Democrats on the House Ways and Means Committee voted to 356 00:20:16,240 --> 00:20:20,160 Speaker 1: release information on the former president's personal and business taxes. 357 00:20:20,520 --> 00:20:24,760 Speaker 1: They show his his financial losses shielded him from paying 358 00:20:24,880 --> 00:20:28,880 Speaker 1: much income tax since twenty fifteen. Our Republicans are calling 359 00:20:28,920 --> 00:20:32,800 Speaker 1: the release of these documents a dangerous president Bloomberg's Joe 360 00:20:32,840 --> 00:20:35,560 Speaker 1: Matthews spoke with one of the committee members, Democrat Dan 361 00:20:35,680 --> 00:20:39,600 Speaker 1: Kildee of Michigan, who responded to the GOP complaint. I 362 00:20:39,640 --> 00:20:43,280 Speaker 1: don't think it sets a dangerous precedent. I actually think 363 00:20:43,359 --> 00:20:46,920 Speaker 1: the most dangerous precedent that we could set is to 364 00:20:47,000 --> 00:20:51,480 Speaker 1: have before us evidence that the I R s failed 365 00:20:52,080 --> 00:20:54,760 Speaker 1: to live up to their own obligation to audit the 366 00:20:54,840 --> 00:20:57,440 Speaker 1: president of the United States. They simply didn't do it. 367 00:20:58,280 --> 00:21:00,880 Speaker 1: And we have tax with friends that we've been able 368 00:21:00,920 --> 00:21:06,159 Speaker 1: to examine. The show really serious red flag, you know, 369 00:21:06,280 --> 00:21:10,960 Speaker 1: the notion that the precedent was a dangerous precedent to act. 370 00:21:11,840 --> 00:21:14,960 Speaker 1: I think the most dangerous precedent would be for Congress 371 00:21:15,040 --> 00:21:18,880 Speaker 1: to look at those two pieces of information and just say, oh, well, 372 00:21:19,680 --> 00:21:22,600 Speaker 1: you know, to me, that sends a message, the message 373 00:21:22,680 --> 00:21:26,560 Speaker 1: being that if you're powerful and wealthy, you can continue 374 00:21:26,600 --> 00:21:29,040 Speaker 1: to secure the laws. We decided we're not going to 375 00:21:29,080 --> 00:21:32,320 Speaker 1: allow that to happen, and so we forwarded this information 376 00:21:33,000 --> 00:21:36,919 Speaker 1: onto the U. S. House of Representatives with the legislative 377 00:21:36,920 --> 00:21:39,760 Speaker 1: proposal to fix it. And you know what, that's the 378 00:21:39,840 --> 00:21:42,080 Speaker 1: job I was elected to do. If it makes sense. 379 00:21:42,119 --> 00:21:45,119 Speaker 1: People uncomfortable because they want to continue to sort of, 380 00:21:45,880 --> 00:21:48,720 Speaker 1: you know, circle the wagons around Donald Trump. But they're 381 00:21:48,760 --> 00:21:52,440 Speaker 1: gonna have to explain that, you know, to their constituents 382 00:21:52,480 --> 00:21:55,359 Speaker 1: why they would prefer not to act. I just couldn't 383 00:21:55,359 --> 00:21:58,000 Speaker 1: do it as a good conscience. So what happens next year? 384 00:21:58,760 --> 00:22:03,959 Speaker 1: How and when they be made public? Well, we're our staff, 385 00:22:04,160 --> 00:22:08,680 Speaker 1: there's a venocratic and Republicists are working to product from 386 00:22:09,000 --> 00:22:13,600 Speaker 1: those returns any of those sensitive personal pieces of information 387 00:22:14,080 --> 00:22:19,680 Speaker 1: you know, social security numbers, tax identification numbers, addresses, you know, 388 00:22:19,800 --> 00:22:24,240 Speaker 1: even bank record numbers, things of that nature, simply redactive. 389 00:22:24,280 --> 00:22:27,000 Speaker 1: We don't want to help that implements in public, you know, 390 00:22:27,080 --> 00:22:30,480 Speaker 1: in public do but that should take you know a 391 00:22:30,600 --> 00:22:33,680 Speaker 1: matter of hours and days that needs so I would 392 00:22:33,680 --> 00:22:36,560 Speaker 1: suspect with them the next couple of days. Uh, those 393 00:22:36,760 --> 00:22:40,480 Speaker 1: those documents would be available. You've seen them. Are we 394 00:22:40,600 --> 00:22:45,960 Speaker 1: in for something here? Yes? And a sussassinates to to 395 00:22:46,080 --> 00:22:48,720 Speaker 1: take a look at these returns in the lack of 396 00:22:48,880 --> 00:22:56,080 Speaker 1: documentation for huge cash charitable contributions, for example, or loans 397 00:22:56,920 --> 00:23:01,919 Speaker 1: and you know teen family members, or you know, conservation 398 00:23:02,080 --> 00:23:07,680 Speaker 1: easements that are enormous, and then the lap of responsibility 399 00:23:07,680 --> 00:23:11,680 Speaker 1: to actually pay taxes. Two of the taxes President Trump 400 00:23:11,960 --> 00:23:17,280 Speaker 1: paid seven seven dollars in federal income taxes one year zero. 401 00:23:18,359 --> 00:23:21,600 Speaker 1: There's no circumstance that I can explain to a teacher 402 00:23:21,720 --> 00:23:24,600 Speaker 1: or firefighter at bath home that they have to pay 403 00:23:24,640 --> 00:23:27,920 Speaker 1: their taxes or they're going to face severe penalty. And 404 00:23:28,240 --> 00:23:30,440 Speaker 1: a person who happens to be the president of the 405 00:23:30,560 --> 00:23:34,800 Speaker 1: United States has the pleasuring Department in the RS essentially 406 00:23:34,840 --> 00:23:39,000 Speaker 1: under his control, can flop the law, not pay taxes 407 00:23:39,320 --> 00:23:41,320 Speaker 1: and continue to be one of the wealthiest people in 408 00:23:41,400 --> 00:23:46,040 Speaker 1: the country, according to his own characterization, I can't explain that. 409 00:23:46,600 --> 00:23:49,919 Speaker 1: Democratic Congressman Dan Kilty of Michigan speaking with Joe Matthew 410 00:23:49,960 --> 00:23:53,080 Speaker 1: on Bloomberg Sound On. Catch the show weeknights at five pm, 411 00:23:53,160 --> 00:23:56,959 Speaker 1: all Street time on Bloomberg Radio. Now, here's Bloomberg Meteorologist 412 00:23:57,080 --> 00:24:01,440 Speaker 1: Rob Carolyn with your weather forecast. The National Weather Service 413 00:24:01,480 --> 00:24:03,840 Speaker 1: has the region under a wind advisory from ten pm 414 00:24:03,960 --> 00:24:06,840 Speaker 1: tonight through ten pm Friday night. Cloudy and brees with 415 00:24:06,920 --> 00:24:10,320 Speaker 1: rain developing this afternoon forty five to fifty, rainy, windy tonight, 416 00:24:10,359 --> 00:24:13,560 Speaker 1: temperatures climbing into the fifties. Rain ends tomorrow fifty to 417 00:24:13,640 --> 00:24:16,119 Speaker 1: fifty five. Tomorrow morning cold. During the afternoon, it's windy, 418 00:24:16,400 --> 00:24:21,160 Speaker 1: partly sunny, breezy. Saturday height Christmas Day, sunny to thirty. 419 00:24:21,480 --> 00:24:24,480 Speaker 1: I'm Rob Carolyn with your weekend forecast on Bloomberg eleven 420 00:24:24,600 --> 00:24:30,920 Speaker 1: three oh broadcasting live from the Bloomberg Interactive Broker Studio 421 00:24:31,040 --> 00:24:34,240 Speaker 1: in New York, Bloomberg Elving freedon to Washington, d C, 422 00:24:34,400 --> 00:24:38,080 Speaker 1: Bloomberg nine one to Boston, Bloomberg what All six, one 423 00:24:38,240 --> 00:24:42,080 Speaker 1: to San Francisco, Bloomberg sixty to the Country, Sirius XM 424 00:24:42,160 --> 00:24:45,800 Speaker 1: chto one, and around the globe the Bloomberg Business and 425 00:24:45,920 --> 00:24:55,400 Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak. We're coming 426 00:24:55,480 --> 00:24:57,760 Speaker 1: up to five thirty on Wall Street. Good morning, I'm 427 00:24:57,840 --> 00:25:00,600 Speaker 1: Nathan Hagar and I'm Karen Moscow and are just about 428 00:25:00,640 --> 00:25:03,200 Speaker 1: four hours away from the open of US trading. Let's 429 00:25:03,200 --> 00:25:04,479 Speaker 1: get you up to date on the news you need 430 00:25:04,520 --> 00:25:06,560 Speaker 1: to know at this hour. We begin with a historic 431 00:25:06,720 --> 00:25:10,879 Speaker 1: night in Washington. Ukraine's President Vladimir's Lensky made an emotional 432 00:25:11,000 --> 00:25:14,600 Speaker 1: address in person to a joint meeting of Congress. Europe 433 00:25:14,720 --> 00:25:19,520 Speaker 1: is now stronger and more independent than never. The Russian 434 00:25:19,600 --> 00:25:25,439 Speaker 1: Kiraany has lost control over US. This was President Zelenski's 435 00:25:25,480 --> 00:25:29,080 Speaker 1: first trip outside his country since Russia's invasion in February, 436 00:25:29,359 --> 00:25:32,120 Speaker 1: and during the trip, Karen, the Biden administration announced nearly 437 00:25:32,200 --> 00:25:35,880 Speaker 1: one point nine billion dollars in additional military aid to Ukraine, 438 00:25:35,920 --> 00:25:40,240 Speaker 1: including a Patriot missile battery. Russian President Vladimir Putin meanwhile 439 00:25:40,280 --> 00:25:44,159 Speaker 1: says Russia has no limitations on its own military spending. 440 00:25:45,040 --> 00:25:47,640 Speaker 1: And We're following another story ont A DC this morning, Nathan, 441 00:25:47,680 --> 00:25:50,800 Speaker 1: A group of House Republicans has released a counter report 442 00:25:50,880 --> 00:25:54,640 Speaker 1: to the House Select Committee's investigation into the January six 443 00:25:54,760 --> 00:25:58,200 Speaker 1: capital assault. The January six Committee is expected to release 444 00:25:58,359 --> 00:26:01,000 Speaker 1: it's full report today. Let's get the latest down the 445 00:26:01,080 --> 00:26:05,040 Speaker 1: ft X collapse, Karen to top executives have pleaded guilty 446 00:26:05,119 --> 00:26:09,080 Speaker 1: now to criminal charges and Bloomberg. Steve Rappaport joins US 447 00:26:09,160 --> 00:26:12,120 Speaker 1: Live with the latest. Steve. Good morning, Nathan and Karen. 448 00:26:12,200 --> 00:26:15,160 Speaker 1: Ahead of Sam Bankman Freed's appearance in court today, Caroline 449 00:26:15,160 --> 00:26:18,760 Speaker 1: Ellison and Gary Wang pled guilty to fraud as prosecutors 450 00:26:18,880 --> 00:26:21,320 Speaker 1: ramp up pressure in their case against him. The Plea 451 00:26:21,400 --> 00:26:24,159 Speaker 1: Deal calls for the government to recommend reduced sentences if 452 00:26:24,200 --> 00:26:28,280 Speaker 1: they provide substantial assistance in the investigation. Bankman free touchdown 453 00:26:28,359 --> 00:26:30,520 Speaker 1: in New York last night after waving his right to 454 00:26:30,600 --> 00:26:33,920 Speaker 1: extradition from the Bahamas. Live in New York. I'm Steve Rappaport, 455 00:26:33,960 --> 00:26:36,560 Speaker 1: Bloomberg Daybreak. All right, Steve, thanks for taking a look 456 00:26:36,600 --> 00:26:39,399 Speaker 1: at the markets now. Futures are little change this morning. 457 00:26:39,440 --> 00:26:42,200 Speaker 1: Global stocks advanced for a third day yesterday as we 458 00:26:42,320 --> 00:26:45,800 Speaker 1: edge closer to the Christmas holiday. But Brian Jacobson, senior 459 00:26:45,880 --> 00:26:49,600 Speaker 1: investment strategist with all Spring Global Investments, says markets are 460 00:26:49,680 --> 00:26:53,520 Speaker 1: pricing in a recession, though there still are buying opportunities. 461 00:26:53,840 --> 00:26:56,719 Speaker 1: Look at some of the cyclical names, maybe look at 462 00:26:56,760 --> 00:27:00,639 Speaker 1: some small caps and mid caps and emerging markets, and uh, 463 00:27:00,800 --> 00:27:03,280 Speaker 1: let's not forget that this is actually a pretty decent 464 00:27:03,400 --> 00:27:07,720 Speaker 1: environment where bonds can once again diversify a portfolio. Springs. 465 00:27:07,760 --> 00:27:10,960 Speaker 1: Brian Jacobson says markets are also pricing in lower earnings 466 00:27:11,040 --> 00:27:16,119 Speaker 1: in three Speaking of earnings, Karen, America's largest memory chip maker, 467 00:27:16,240 --> 00:27:19,679 Speaker 1: Micron Technology, is out with a lackluster revenue outlook from 468 00:27:19,680 --> 00:27:21,879 Speaker 1: me yesterday, and that led to a warning that Micron 469 00:27:21,920 --> 00:27:25,160 Speaker 1: will also have to trim its workforce. Taking a look 470 00:27:25,200 --> 00:27:28,400 Speaker 1: at Micron and early trading, the stock is down two 471 00:27:28,520 --> 00:27:32,160 Speaker 1: point eight percent. Futures though are little changed to lower 472 00:27:32,320 --> 00:27:35,359 Speaker 1: SMP futures are down two points, Stole futures down twenty 473 00:27:35,440 --> 00:27:38,280 Speaker 1: nine and NASAC features are lower by eight points. The 474 00:27:38,359 --> 00:27:40,800 Speaker 1: ten your treasury is up five thirty seconds, you know 475 00:27:40,880 --> 00:27:44,239 Speaker 1: three point six four. Nimex crudes up to up one 476 00:27:44,280 --> 00:27:47,680 Speaker 1: point six percent at seventy seven of barrel comic golds 477 00:27:47,720 --> 00:27:51,160 Speaker 1: little change down a buck ten at announced. The euro 478 00:27:51,280 --> 00:27:53,199 Speaker 1: right now trading at one point zero six four two 479 00:27:53,240 --> 00:27:55,959 Speaker 1: against the dollar. Straight ahead, we have your latest local headlines, 480 00:27:56,000 --> 00:27:58,960 Speaker 1: plus the check of sports. You're listening to Bloomberg Daybreak 481 00:28:04,080 --> 00:28:05,920 Speaker 1: one on Wall Street. We bring in Michael bar to 482 00:28:06,119 --> 00:28:08,640 Speaker 1: take a look AT's what's going on in New York 483 00:28:08,680 --> 00:28:10,960 Speaker 1: and around the world. Kind of got a hunkered down 484 00:28:11,200 --> 00:28:15,040 Speaker 1: if we're not traveling, Michael. One word, Nathan E. Gas. 485 00:28:15,880 --> 00:28:19,000 Speaker 1: Millions of Americans taking to the roads and skies before 486 00:28:19,080 --> 00:28:22,240 Speaker 1: Christmas could face big trouble getting to their destination on 487 00:28:22,359 --> 00:28:25,400 Speaker 1: time because of a massive winter storm. Several major hubs, 488 00:28:25,440 --> 00:28:27,720 Speaker 1: including New York City, are all in the path of 489 00:28:27,800 --> 00:28:32,080 Speaker 1: the storm and face significant disruptions. This traveler in New 490 00:28:32,200 --> 00:28:35,600 Speaker 1: York was headed towards the storm trying to get home 491 00:28:35,680 --> 00:28:40,480 Speaker 1: to Detroit. Actually was on the airplane waiting to taxi 492 00:28:40,560 --> 00:28:43,200 Speaker 1: out and we got canceled going to Bismarck, North Dakota. 493 00:28:43,440 --> 00:28:46,920 Speaker 1: Airlines have been canceling hundreds of flights. New York City 494 00:28:46,960 --> 00:28:50,000 Speaker 1: Mayor Eric Adams defended his record on crime. He wrapped 495 00:28:50,040 --> 00:28:53,520 Speaker 1: up his first year in office amid rise in major 496 00:28:53,680 --> 00:28:57,640 Speaker 1: felonies through November. Mayor Adams says, though the top line 497 00:28:57,720 --> 00:29:01,040 Speaker 1: number does not tell the whole story, as he highlighted 498 00:29:01,080 --> 00:29:04,720 Speaker 1: double digit drops in the high profile murders and shootings. 499 00:29:05,160 --> 00:29:07,280 Speaker 1: And I'm talking to New york Is every day when 500 00:29:07,320 --> 00:29:10,640 Speaker 1: I'm on the subway system, walking the street, interacted with 501 00:29:10,800 --> 00:29:15,000 Speaker 1: them in coaches, in houses, roached up in synagogues. That's 502 00:29:15,040 --> 00:29:17,320 Speaker 1: the number one thing on their minds. They want to 503 00:29:17,400 --> 00:29:20,760 Speaker 1: be safe, and they deserve to be safe. Mayor Adams 504 00:29:20,840 --> 00:29:23,880 Speaker 1: gave himself a B plus in fighting crime in the city. 505 00:29:24,480 --> 00:29:26,720 Speaker 1: A man accused of wounding ten people in a mass 506 00:29:26,720 --> 00:29:29,320 Speaker 1: shooting on a crowded subway train in Brooklyn told his 507 00:29:29,440 --> 00:29:32,680 Speaker 1: lawyers he'd like to plead guilty next month to all 508 00:29:32,800 --> 00:29:36,880 Speaker 1: of the charges against him, including terrorism offenses. His attorneys 509 00:29:36,880 --> 00:29:39,480 Speaker 1: say Frank James wants to plead guilty of the first 510 00:29:39,560 --> 00:29:42,520 Speaker 1: week of January and April. The shooters set off a 511 00:29:42,600 --> 00:29:45,200 Speaker 1: pair of smoke grenades and then scattered a barrage of 512 00:29:45,360 --> 00:29:48,720 Speaker 1: random shots inside the train. One senator made a rail 513 00:29:48,760 --> 00:29:52,240 Speaker 1: the one point seven trillion dollars spending bill. Utah Republican 514 00:29:52,320 --> 00:29:55,920 Speaker 1: Senator Mike Lee once an amendment that would reinstate Title 515 00:29:56,080 --> 00:29:59,240 Speaker 1: forty two. GLOBALA was twenty four hours a day on 516 00:29:59,400 --> 00:30:02,400 Speaker 1: air and Bloomberg Quick Take, powered by more than twenty 517 00:30:02,440 --> 00:30:05,040 Speaker 1: seven hundred journalist and analysts more than a hundred twenty countries. 518 00:30:05,320 --> 00:30:12,720 Speaker 1: Michael Barr, This is Bloomberg NA. Thanks Michael. By thirty 519 00:30:12,760 --> 00:30:15,000 Speaker 1: three on Wall Street Time for the Bloomberg Sports Update, 520 00:30:15,000 --> 00:30:17,120 Speaker 1: brought to by Tri State out Here's John stash Our. 521 00:30:17,160 --> 00:30:18,760 Speaker 1: All right, Nathan Nixon one eight in a row and 522 00:30:18,840 --> 00:30:21,120 Speaker 1: five of the eighth. They had not allowed a hundred points, 523 00:30:21,160 --> 00:30:24,200 Speaker 1: but at the guard in Toronto's Pascal Siaka went for 524 00:30:24,320 --> 00:30:27,240 Speaker 1: over half a hundred by himself fifty two points. The 525 00:30:27,320 --> 00:30:30,040 Speaker 1: Raptors ended the next win Street one thirteen one oh 526 00:30:30,120 --> 00:30:32,520 Speaker 1: six in the lost thirty points of both Julius Randall 527 00:30:32,560 --> 00:30:34,600 Speaker 1: and R. J. Barrett for an off night for Jalen 528 00:30:34,640 --> 00:30:36,840 Speaker 1: Bronze front and he shot just three or fourteen nets. 529 00:30:36,880 --> 00:30:39,280 Speaker 1: Have won their last seven eleven and twelve at Barclay's 530 00:30:39,560 --> 00:30:42,720 Speaker 1: a one forty three to one thirteen route of Golden State. 531 00:30:42,800 --> 00:30:46,440 Speaker 1: Nets led fifty one at half time, nine nets and 532 00:30:46,520 --> 00:30:48,840 Speaker 1: double figures of the Warriors. Two games back to back 533 00:30:48,960 --> 00:30:51,200 Speaker 1: nights in New York and they lost by thirty eight 534 00:30:51,480 --> 00:30:53,640 Speaker 1: and thirty much needed win for the Devils. They lost 535 00:30:53,680 --> 00:30:55,800 Speaker 1: their last six. They rallied to win at Florida four 536 00:30:55,840 --> 00:30:58,720 Speaker 1: to two. St. John's lost at Villanova seventy eight to 537 00:30:58,800 --> 00:31:01,360 Speaker 1: sixty three. Aaron Judge, yet Yankee stated to talk about 538 00:31:01,360 --> 00:31:04,600 Speaker 1: his new nine year contract and about being named Yankee Captain. 539 00:31:04,760 --> 00:31:07,840 Speaker 1: Get a chance to continue you know something the Yankees 540 00:31:08,400 --> 00:31:10,800 Speaker 1: you know, are so big on, which is legacy. You know, 541 00:31:10,880 --> 00:31:13,160 Speaker 1: continue to get a chance to continue my legacy here 542 00:31:14,000 --> 00:31:17,080 Speaker 1: in pin stripes, you know, in the best city in 543 00:31:17,120 --> 00:31:20,120 Speaker 1: the world, the best baseball city, in the front of 544 00:31:20,120 --> 00:31:23,920 Speaker 1: the best fans. This is uh an incredible honor. First 545 00:31:23,920 --> 00:31:26,560 Speaker 1: captain since Derrik Peter, who was in attendance. The numbers 546 00:31:26,600 --> 00:31:29,040 Speaker 1: in after the studying Carlos Careas signing the metal out 547 00:31:29,080 --> 00:31:31,680 Speaker 1: of payroll of three hundred and eighty four million, they'll 548 00:31:31,680 --> 00:31:34,120 Speaker 1: pay attacks of a hundred eleven millions, and they'll shell 549 00:31:34,200 --> 00:31:38,640 Speaker 1: out almost half a billion in three Jets and Jaguars. 550 00:31:38,720 --> 00:31:41,080 Speaker 1: They're gonna be playing in the rain tonight at Metlive. 551 00:31:41,200 --> 00:31:43,960 Speaker 1: The Jets out end a three game losing streak. They 552 00:31:44,000 --> 00:31:47,600 Speaker 1: have dropped to five hundred Stash Award Bloomberg Sports n Rant. 553 00:31:47,680 --> 00:31:49,800 Speaker 1: You buy out E, don't let someone else drive off 554 00:31:49,840 --> 00:31:52,520 Speaker 1: in the out model you've always wanted. Visit your local 555 00:31:52,640 --> 00:31:55,000 Speaker 1: Tri State OUTI dealer to get behind the wheel of 556 00:31:55,080 --> 00:31:58,640 Speaker 1: yours today, or visit outie Offers dot com for more 557 00:31:58,680 --> 00:32:04,600 Speaker 1: information on Wall Street. Time for the Tri State Business Report, 558 00:32:04,680 --> 00:32:07,320 Speaker 1: Let's bring in Bloomberg's ad Cory. New York will be 559 00:32:07,400 --> 00:32:10,760 Speaker 1: the fourth state to require salary ranges with job postings 560 00:32:10,840 --> 00:32:13,520 Speaker 1: when a new law takes effect in September. It applies 561 00:32:13,560 --> 00:32:16,840 Speaker 1: to all employers across New York with four or more workers. 562 00:32:17,280 --> 00:32:19,560 Speaker 1: Is Fall one and every five people in the US 563 00:32:19,640 --> 00:32:22,080 Speaker 1: will be living in a state with so called pay 564 00:32:22,200 --> 00:32:26,440 Speaker 1: transparency laws. Amazon dot Com and other big warehouse operators 565 00:32:26,440 --> 00:32:28,720 Speaker 1: in New York State faced new limits on the quota 566 00:32:28,840 --> 00:32:32,520 Speaker 1: systems they can use to boost worker productivity. Under legislation 567 00:32:32,600 --> 00:32:35,480 Speaker 1: Governor Kathy Hokele is signed into law. It's similar to 568 00:32:35,560 --> 00:32:37,920 Speaker 1: a first of a kind warehouse workers safety law that 569 00:32:38,040 --> 00:32:42,400 Speaker 1: California enacted in two thousand twenty one. Netflix will develop 570 00:32:42,480 --> 00:32:45,880 Speaker 1: a production facility on the former Fort Monmouth campus and 571 00:32:46,200 --> 00:32:50,120 Speaker 1: Monmouth County, New Jersey Governor Phil Murphy's office has Netflix 572 00:32:50,200 --> 00:32:52,760 Speaker 1: plans to commit eight hundred forty eight million dollars in 573 00:32:52,880 --> 00:32:55,840 Speaker 1: investments to develop the more than two hundred nine two 574 00:32:55,840 --> 00:32:59,280 Speaker 1: acre parcel. It's projected to create more than fifteen hundred 575 00:32:59,360 --> 00:33:03,080 Speaker 1: production jobs. That's your Bloomberg Trying State Business Report. I'm 576 00:33:03,080 --> 00:33:06,280 Speaker 1: did Corey, alright, and thank you. It is five on 577 00:33:06,400 --> 00:33:10,479 Speaker 1: Wall Street. The following is an editorial from Bloomberg Opinion. 578 00:33:10,840 --> 00:33:14,840 Speaker 1: This editorial was written by the Bloomberg Editorial Board. Deciding 579 00:33:14,880 --> 00:33:17,560 Speaker 1: what can be built where is a perfectly legitimate power 580 00:33:17,640 --> 00:33:20,800 Speaker 1: of local governments across America. It's also a tool of 581 00:33:20,880 --> 00:33:25,800 Speaker 1: exclusion that undermines the economy, deepens inequality, and even exacerbates 582 00:33:25,800 --> 00:33:29,080 Speaker 1: climate change. Particularly in neighborhoods with the best schools and 583 00:33:29,160 --> 00:33:33,280 Speaker 1: access to jobs. Politically active residents who tend to be older, affluent, 584 00:33:33,320 --> 00:33:36,400 Speaker 1: and white have long adopted rules to keep others out. 585 00:33:36,800 --> 00:33:40,520 Speaker 1: It's a prime example of local government gone wrong. Fortunately, 586 00:33:40,920 --> 00:33:43,920 Speaker 1: the pro market and pro equality aspects of zoning reform 587 00:33:44,320 --> 00:33:47,920 Speaker 1: give it bipartisan appeal, visible in the support for legislation 588 00:33:48,000 --> 00:33:50,720 Speaker 1: at the state and national levels. To be sure, zoning 589 00:33:50,800 --> 00:33:53,880 Speaker 1: reform alone won't solve the country's housing crisis, but it's 590 00:33:53,920 --> 00:33:57,120 Speaker 1: a task that federal and state governments must urgently undertake. 591 00:33:57,640 --> 00:34:00,560 Speaker 1: This editorial was written by the Bloomberg editor aboard. For 592 00:34:00,640 --> 00:34:03,560 Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash 593 00:34:03,600 --> 00:34:06,600 Speaker 1: Opinion or O P I N go on the Bloomberg terminal. 594 00:34:06,840 --> 00:34:10,080 Speaker 1: This has been Bloomberg opinion, and you can hear Bloomberg 595 00:34:10,120 --> 00:34:14,279 Speaker 1: opinion editorials every weekday at this time. Terminal customers can 596 00:34:14,360 --> 00:34:18,279 Speaker 1: read more at O P I N go. Another story 597 00:34:18,320 --> 00:34:21,560 Speaker 1: we're following this morning, puff star Justin Bieber said to 598 00:34:21,600 --> 00:34:23,759 Speaker 1: score a massive deal that would put his music rights 599 00:34:23,800 --> 00:34:27,640 Speaker 1: under the ownership of Hypnosis song management and investment entity 600 00:34:27,719 --> 00:34:32,480 Speaker 1: backed by Black Stones. Or hearing from sources Bieber steak 601 00:34:32,560 --> 00:34:35,399 Speaker 1: in his publishing rights and recorded music catalog could fetch 602 00:34:35,480 --> 00:34:41,040 Speaker 1: about two hundred million dollars. We're told the agreement hasn't 603 00:34:41,040 --> 00:34:45,160 Speaker 1: been signed, nothing is imminent, but quite a payday potentially 604 00:34:45,280 --> 00:34:48,200 Speaker 1: for Justin Bieber if he gets on the parade of 605 00:34:48,440 --> 00:34:52,960 Speaker 1: artists that are selling their music rights. Future is moving lower. 606 00:34:53,239 --> 00:34:57,120 Speaker 1: On this Thursday morning, you're listening to Bloomberg Daved good 607 00:34:57,200 --> 00:35:05,160 Speaker 1: morning Markets, headlines and breaking news twenty four hours a 608 00:35:05,280 --> 00:35:08,520 Speaker 1: day at Bloomberg dot com, the Bloomberg Business and at 609 00:35:08,560 --> 00:35:18,640 Speaker 1: Bloomberg Quick Take, She's a Bloomberg Business lash and I'm 610 00:35:18,680 --> 00:35:21,480 Speaker 1: Karen Moscow. And US dot index futures are struggling for 611 00:35:21,560 --> 00:35:24,279 Speaker 1: direction and they're trying to hold onto the momentum that 612 00:35:24,400 --> 00:35:27,160 Speaker 1: propelled the SNP five hundred to its best daily gain 613 00:35:27,239 --> 00:35:30,040 Speaker 1: in three weeks. This is investors assess whether the world's 614 00:35:30,080 --> 00:35:33,759 Speaker 1: biggest economy can skirt worst case recession scenarios. And we 615 00:35:33,840 --> 00:35:36,319 Speaker 1: check the markets all day long here on Bloomberg SMP 616 00:35:36,520 --> 00:35:38,920 Speaker 1: futures Again that will change, so were in NASTAC and 617 00:35:38,960 --> 00:35:41,839 Speaker 1: Dow futures. The decks in Germany down about a tenth 618 00:35:41,880 --> 00:35:44,280 Speaker 1: of a percent. Ten Your treasury of five thirty seconds. 619 00:35:44,320 --> 00:35:46,160 Speaker 1: You have three point six four percent, the yield of 620 00:35:46,200 --> 00:35:48,880 Speaker 1: the two year four point one nine percent nine x 621 00:35:48,880 --> 00:35:51,040 Speaker 1: screwed oils higher, up one point seven percent of a 622 00:35:51,080 --> 00:35:53,480 Speaker 1: dollar twenty nine. It's seventy nine dollars fifty eight cents 623 00:35:53,480 --> 00:35:56,720 Speaker 1: of barrel co make school. That will change in seventy 624 00:35:56,760 --> 00:35:59,719 Speaker 1: announced the euro one point six four nine against the 625 00:35:59,840 --> 00:36:02,120 Speaker 1: doll they're British pound one point two zero nine seven 626 00:36:02,440 --> 00:36:06,120 Speaker 1: then one two and bitcoin is up a quarter percent 627 00:36:06,239 --> 00:36:09,080 Speaker 1: at about sixteen eight hundred dollars. And today we are 628 00:36:09,120 --> 00:36:11,360 Speaker 1: watching for a report on third quarter GDP at a 629 00:36:11,440 --> 00:36:13,960 Speaker 1: eight thirty Wall Street time, along with the weekly report 630 00:36:14,000 --> 00:36:16,920 Speaker 1: on initial jobless claims, and as a Bloomberg Business flash. 631 00:36:17,000 --> 00:36:19,120 Speaker 1: Now he's Michael Barr with more on what's going on 632 00:36:19,239 --> 00:36:22,000 Speaker 1: around the world. Michael Karen, thank you very much. Ukrainian 633 00:36:22,040 --> 00:36:26,600 Speaker 1: President Voladimir Zelenski pressed the US Congress for tanks, planes, 634 00:36:26,640 --> 00:36:30,239 Speaker 1: and more money to help repel Russia's invasion. In his 635 00:36:30,400 --> 00:36:33,560 Speaker 1: first trip abroad since the wars, Zelenski told a joint 636 00:36:33,600 --> 00:36:37,480 Speaker 1: meeting of Congress that US support has been crucial so far. 637 00:36:38,160 --> 00:36:41,319 Speaker 1: The reports set to be released today by House Investigators 638 00:36:41,400 --> 00:36:45,719 Speaker 1: claims that then President Donald Trump criminally plotted to overturn 639 00:36:45,800 --> 00:36:49,960 Speaker 1: his election defeat and provoked his supporters to violence at 640 00:36:50,000 --> 00:36:53,680 Speaker 1: the Capitol with false claims of voter fraud. In the NBA, 641 00:36:53,880 --> 00:36:57,880 Speaker 1: the next loss, and that's down the Warriors one in 642 00:36:57,960 --> 00:37:01,520 Speaker 1: the NHL, the Devil's won. Global News twenty four hours 643 00:37:01,560 --> 00:37:04,960 Speaker 1: a day on air and on Bloomberg Quick Take, powered 644 00:37:05,000 --> 00:37:07,880 Speaker 1: by more than hundred journalists analyst or more than a 645 00:37:07,960 --> 00:37:12,479 Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, Okay, Michael. Thanks, 646 00:37:12,560 --> 00:37:15,360 Speaker 1: It's five forty two on Wall Street. This is Bloomberg 647 00:37:15,440 --> 00:37:18,600 Speaker 1: day Break. I'm Nathan Hager. She's Karen Moscow. And here's 648 00:37:18,600 --> 00:37:20,839 Speaker 1: some of this other stories we're watching this morning. We've 649 00:37:20,880 --> 00:37:25,160 Speaker 1: got our eyes on corporate America, starting with Twitter CEO 650 00:37:25,320 --> 00:37:28,799 Speaker 1: Elon Musk was on a Twitter spaces chat this week. 651 00:37:28,880 --> 00:37:31,919 Speaker 1: He says the platform was on course to hit three 652 00:37:32,200 --> 00:37:36,920 Speaker 1: billion dollars in negative cash flow, so that's why I 653 00:37:37,040 --> 00:37:40,759 Speaker 1: spent the last five weeks cutting costs like crazy. Now. 654 00:37:40,880 --> 00:37:43,879 Speaker 1: Elon Musk does say he plans to step aside as 655 00:37:43,960 --> 00:37:46,480 Speaker 1: Twitter CEO, though he will keep a close eye on 656 00:37:46,640 --> 00:37:51,400 Speaker 1: the social platform with a focus on its engineering teams. Well, Nathan, 657 00:37:51,520 --> 00:37:53,759 Speaker 1: we have a note for a muss other company as well. 658 00:37:53,920 --> 00:37:58,960 Speaker 1: TSSLA is offering US consumers seven thousand, five hundred dollars 659 00:37:59,040 --> 00:38:02,319 Speaker 1: to take delivery. It's too cheapest models before a year end. 660 00:38:02,680 --> 00:38:04,680 Speaker 1: It's a move that's likely to stir up more debate 661 00:38:04,719 --> 00:38:07,680 Speaker 1: over the extent of the carmakers struggle with demand. It's 662 00:38:07,760 --> 00:38:10,920 Speaker 1: highly unusual for test Lata offers such a perk, as 663 00:38:10,960 --> 00:38:14,759 Speaker 1: Elon Musk has enforced a no discount policy going back years. 664 00:38:14,920 --> 00:38:16,960 Speaker 1: While speaking of cars, Karen, We're gonna be keeping an 665 00:38:16,960 --> 00:38:19,640 Speaker 1: eye on CarMax stock this morning. The used car dealer 666 00:38:19,960 --> 00:38:23,480 Speaker 1: reports earnings before the opening bell, and analysts do expect 667 00:38:23,560 --> 00:38:28,080 Speaker 1: a drop in revenue. Carmacks is the US leader in 668 00:38:28,239 --> 00:38:30,920 Speaker 1: used car sales, and it may be better positioned than 669 00:38:31,160 --> 00:38:34,480 Speaker 1: some of its peers like Carbona and Room in a 670 00:38:34,560 --> 00:38:36,840 Speaker 1: down market. So yeah, we will definitely be keeping an 671 00:38:36,880 --> 00:38:40,520 Speaker 1: eye on Carmacks this morning. Pretty hard to fit a 672 00:38:40,560 --> 00:38:42,560 Speaker 1: car under a Christmas tree isn't a name, but you 673 00:38:42,600 --> 00:38:47,480 Speaker 1: can fit it in a vending machine. Apparently that's true. Indeed, Well, 674 00:38:47,719 --> 00:38:50,479 Speaker 1: weekly jobless claims data set for release at eight thirty 675 00:38:50,520 --> 00:38:53,800 Speaker 1: am Wall Street Time and the report could instill confidence 676 00:38:53,840 --> 00:38:55,960 Speaker 1: in the fate of the US labor market. Bloomberri's if 677 00:38:55,960 --> 00:38:59,200 Speaker 1: any down, Judas gives us a preview. Weekly jobless claims 678 00:38:59,239 --> 00:39:03,399 Speaker 1: are still running historic clos that could change in three 679 00:39:03,760 --> 00:39:06,200 Speaker 1: The Federal Reserve is poised to keep with the interest 680 00:39:06,320 --> 00:39:09,960 Speaker 1: rates to fight inflation by tempering economic growth. That jer 681 00:39:10,040 --> 00:39:12,920 Speaker 1: Jerome pals is. As far as the Central Bank is concerned, 682 00:39:12,960 --> 00:39:16,960 Speaker 1: the labor market remains too tight, underscoring that job openings 683 00:39:17,000 --> 00:39:20,520 Speaker 1: remain at record highs. Benny Judae s Bloomberg day break. 684 00:39:20,640 --> 00:39:23,120 Speaker 1: Al right, Benny, thanks. Meanwhile, we get existing home sales, 685 00:39:23,239 --> 00:39:25,200 Speaker 1: and we got them yesterday. They fell for a tenth 686 00:39:25,239 --> 00:39:27,840 Speaker 1: straight month that extended a record decline. It comes on 687 00:39:27,920 --> 00:39:30,880 Speaker 1: the heels of a stronger than expected consumer confidence report 688 00:39:31,120 --> 00:39:34,080 Speaker 1: and will also get consumer spending data tomorrow morning, a 689 00:39:34,760 --> 00:39:37,759 Speaker 1: slave full of economic data before the holidays. Takeing a 690 00:39:37,840 --> 00:39:41,440 Speaker 1: look at oil this morning, Karen. It held gains that 691 00:39:41,520 --> 00:39:44,080 Speaker 1: were made over the last three days as traders way 692 00:39:44,120 --> 00:39:47,200 Speaker 1: concerns that near term Chinese demand could decline against lower 693 00:39:47,320 --> 00:39:51,319 Speaker 1: US inventories and a week or dollar. But wow, I'm 694 00:39:51,360 --> 00:39:53,880 Speaker 1: excrude is surging right now at one point seven per 695 00:39:53,920 --> 00:39:56,680 Speaker 1: cent or a dollar thirty one. If you've got seventy 696 00:39:56,760 --> 00:39:58,759 Speaker 1: nine dollars and fifty nine cents, you too can buy 697 00:39:58,800 --> 00:40:01,439 Speaker 1: a barrel of West Texas Inner media crew. Now, let's 698 00:40:01,520 --> 00:40:04,560 Speaker 1: take a look at our top story this morning. Ukrainian 699 00:40:04,600 --> 00:40:08,680 Speaker 1: President Voladimir Zelenski, his in person, ply for more support 700 00:40:08,760 --> 00:40:11,839 Speaker 1: and more weapons in an address to a joint meeting 701 00:40:11,880 --> 00:40:16,560 Speaker 1: of Congress. Your money is not cheery, team, it's an 702 00:40:16,680 --> 00:40:21,440 Speaker 1: investment in the global security and democracy that we handled 703 00:40:21,640 --> 00:40:26,040 Speaker 1: in the most responsible way. Let's get more Now. We're 704 00:40:26,120 --> 00:40:29,320 Speaker 1: joined live this morning by Michael Winfrey, Bloomberg's economics and 705 00:40:29,400 --> 00:40:33,160 Speaker 1: politics editor for Central and Eastern Europe. Mike, it's great 706 00:40:33,239 --> 00:40:35,759 Speaker 1: to speak with you this morning. The message we heard 707 00:40:36,040 --> 00:40:40,840 Speaker 1: from Zelensky last night on Capitol Hill, Ukraine is alive 708 00:40:41,000 --> 00:40:43,399 Speaker 1: and kicking. What is the sense from where you said 709 00:40:43,680 --> 00:40:46,800 Speaker 1: about how that message was received by lawmakers in the 710 00:40:46,880 --> 00:40:53,480 Speaker 1: U S. Well, Uh, it seems to be very successful. Um. 711 00:40:53,719 --> 00:40:57,040 Speaker 1: Zelenski got what he wanted at least for now, which 712 00:40:57,200 --> 00:41:00,560 Speaker 1: was a new pledge of eight by the Biden illustration, 713 00:41:01,160 --> 00:41:04,040 Speaker 1: and he also got to look Republicans in the eye 714 00:41:04,239 --> 00:41:08,239 Speaker 1: and give them this emotional appeal before they take over 715 00:41:08,280 --> 00:41:11,719 Speaker 1: the House in January because there had been concerned that 716 00:41:11,920 --> 00:41:14,920 Speaker 1: he might not be able to have as much support 717 00:41:15,320 --> 00:41:18,640 Speaker 1: um as he did under the Democratic House when the 718 00:41:18,840 --> 00:41:22,200 Speaker 1: leadership changes. But it's not going to just be a 719 00:41:22,480 --> 00:41:25,479 Speaker 1: weapons support. The Ukraine is gonna need. We're heading into 720 00:41:25,600 --> 00:41:29,520 Speaker 1: a very cold winter in Ukraine and in much of 721 00:41:29,880 --> 00:41:32,960 Speaker 1: central and Eastern Europe, and there's gonna be a much 722 00:41:33,040 --> 00:41:37,400 Speaker 1: greater need for humanitarian and infrastructure support as well, particularly 723 00:41:37,480 --> 00:41:41,239 Speaker 1: after the onslaught of attacks that Russia has made on 724 00:41:41,640 --> 00:41:47,279 Speaker 1: Ukraine's power and water infrastructure over the last several weeks. Yeah, 725 00:41:47,360 --> 00:41:50,840 Speaker 1: that's right. There are millions of Ukrainians that are without power, 726 00:41:50,960 --> 00:41:55,120 Speaker 1: water and heat, most importantly as the temperatures drop below zero. 727 00:41:55,680 --> 00:41:58,719 Speaker 1: And there has been a lot of support from the 728 00:41:58,840 --> 00:42:02,759 Speaker 1: US and Ukraine's allies in terms of supplying generators. But 729 00:42:02,960 --> 00:42:06,160 Speaker 1: one of the main concerns right now is that Vladimir 730 00:42:06,239 --> 00:42:10,960 Speaker 1: Putin's military in Russia is rearming. You know, he has 731 00:42:11,080 --> 00:42:15,520 Speaker 1: constrict conscripted three thousand more troops and yesterday his Defense 732 00:42:15,640 --> 00:42:19,320 Speaker 1: minister said that the army would expand even further in 733 00:42:19,480 --> 00:42:22,879 Speaker 1: terms of manpower. So there are worries that Russia maybe 734 00:42:22,960 --> 00:42:27,360 Speaker 1: planning a new offensive um potentially from Belarus UH in 735 00:42:27,440 --> 00:42:31,200 Speaker 1: the new year. There's a hope from Zelenski making this 736 00:42:31,360 --> 00:42:34,279 Speaker 1: trip to the United States to have this scene as 737 00:42:34,719 --> 00:42:40,600 Speaker 1: something of a pivot point for the war in Ukraine. Well, 738 00:42:40,719 --> 00:42:42,560 Speaker 1: I mean, that's really hard to say. One of the 739 00:42:42,600 --> 00:42:46,040 Speaker 1: big issues now that everyone is discussing is which side 740 00:42:46,160 --> 00:42:49,279 Speaker 1: is going to be able to arm itself faster. As 741 00:42:49,360 --> 00:42:53,080 Speaker 1: you probably know, they've been going through tens of thousands 742 00:42:53,360 --> 00:42:57,000 Speaker 1: of artillery shells per month on each side and that's 743 00:42:57,040 --> 00:43:00,200 Speaker 1: been a major part of this war. So Russia UH, 744 00:43:00,560 --> 00:43:03,359 Speaker 1: which has been limited by U S sanctions, is really 745 00:43:03,400 --> 00:43:06,080 Speaker 1: struggling to continue to keep up the pace of its 746 00:43:06,160 --> 00:43:10,279 Speaker 1: military production. And Zelenski and going to the US is 747 00:43:10,320 --> 00:43:14,400 Speaker 1: just underscoring how important it is for Ukraine's allies to 748 00:43:14,680 --> 00:43:19,759 Speaker 1: continue supplying Kiev with UH EID. So, so the real 749 00:43:19,880 --> 00:43:22,399 Speaker 1: question is is it going to be enough? And as 750 00:43:22,640 --> 00:43:26,520 Speaker 1: Zalinsky said in his speech yesterday, when he thinks of 751 00:43:26,560 --> 00:43:29,480 Speaker 1: the US and other allies, he said, it's great, but 752 00:43:29,680 --> 00:43:32,720 Speaker 1: is it enough? Not really, And it's gonna be interesting 753 00:43:32,760 --> 00:43:35,239 Speaker 1: as well to see whether the US continues to take 754 00:43:35,280 --> 00:43:38,400 Speaker 1: the lead with this support. Because as a president, Biden 755 00:43:38,440 --> 00:43:42,920 Speaker 1: alluded to the idea that even more advanced weapons systems 756 00:43:42,960 --> 00:43:46,040 Speaker 1: going to Ukraine could lead to something of a fracturing 757 00:43:46,640 --> 00:43:49,560 Speaker 1: with the alliance. Where where what is the state of 758 00:43:49,680 --> 00:43:52,320 Speaker 1: the alliance? From where you said, and we've got about 759 00:43:52,480 --> 00:43:57,319 Speaker 1: thirty seconds left here, Well, we've we've seen some reluctance 760 00:43:57,360 --> 00:44:00,160 Speaker 1: to supply the more advanced weapons, like the US has 761 00:44:00,200 --> 00:44:03,520 Speaker 1: just pledged a Patriot battery. But it seems that also 762 00:44:03,920 --> 00:44:07,880 Speaker 1: these these red lines that Russia keeps putting down and 763 00:44:07,960 --> 00:44:10,920 Speaker 1: saying is is going to be an escalation for example 764 00:44:11,000 --> 00:44:14,680 Speaker 1: with the him ours earlier in the summer um, Ukraine's 765 00:44:14,680 --> 00:44:18,040 Speaker 1: allies continue to sort of push against these and call 766 00:44:18,160 --> 00:44:22,800 Speaker 1: the bluff. So I believe that the Ukrainians will continue 767 00:44:23,000 --> 00:44:26,279 Speaker 1: to to get better support from their allies as the 768 00:44:26,320 --> 00:44:30,239 Speaker 1: war progresses. Thanks Mike great to get new perspective on 769 00:44:30,440 --> 00:44:34,160 Speaker 1: this this morning after Zelenski's trip to Washington, d C. 770 00:44:34,320 --> 00:44:37,920 Speaker 1: That's Michael Winfrey, Economics and Politics editor for Central and 771 00:44:37,960 --> 00:44:41,200 Speaker 1: Eastern Europe for Bloomberg News. Looking ahead to the market, 772 00:44:41,280 --> 00:44:45,160 Speaker 1: open futures are little changed, but in the red got 773 00:44:45,360 --> 00:44:47,719 Speaker 1: SMP futures right now down to point down, futures down 774 00:44:47,760 --> 00:44:50,320 Speaker 1: sixteen and Nasdaq futures are lower by five points. The 775 00:44:50,360 --> 00:44:53,600 Speaker 1: tenure treasuries now up five thirty seconds, yield on the 776 00:44:53,640 --> 00:44:57,480 Speaker 1: benchmark three point six four per cent. You're listening to 777 00:44:57,600 --> 00:45:05,200 Speaker 1: Bloomberg Daybreak, Markets headlines and breaking news twenty four hours 778 00:45:05,239 --> 00:45:08,160 Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business at 779 00:45:08,280 --> 00:45:12,120 Speaker 1: and at Bloomberg Quick Tape. She's a Bloomberg Business Flash 780 00:45:17,880 --> 00:45:20,799 Speaker 1: and I'm Karen Moscow Futurse this morning, our little change 781 00:45:20,840 --> 00:45:23,239 Speaker 1: and we check the markets all day long year on Bloomberg. 782 00:45:23,320 --> 00:45:25,160 Speaker 1: The decks in Germany is down about a tenth of 783 00:45:25,200 --> 00:45:27,800 Speaker 1: a percent. Ten year treasury up six thirty seconds, you know, 784 00:45:27,840 --> 00:45:30,160 Speaker 1: three point six three percent, and the yield on a 785 00:45:30,239 --> 00:45:33,319 Speaker 1: two year four point one nine percent. Ninemex scrude oil 786 00:45:33,440 --> 00:45:35,280 Speaker 1: is up one point nine percent, up a dollar fifty 787 00:45:35,360 --> 00:45:37,600 Speaker 1: three at seventy nine dollars eighty two cents a barrel. 788 00:45:37,840 --> 00:45:39,719 Speaker 1: Comex called out a tenth of a percent on a 789 00:45:39,760 --> 00:45:43,080 Speaker 1: dollar seventy at eighteen twenty three seventy announced the euro 790 00:45:43,239 --> 00:45:45,440 Speaker 1: one point oh six three one against the dollar, British 791 00:45:45,440 --> 00:45:47,959 Speaker 1: found one point zero eight one the end one thirty 792 00:45:48,000 --> 00:45:50,239 Speaker 1: two point oh seven, and Bitcoin is up to ten 793 00:45:50,400 --> 00:45:53,239 Speaker 1: percent at sixteen thousand, eight hundred dollars, and that's a 794 00:45:53,239 --> 00:45:56,360 Speaker 1: Bloomberg Business flash. Nathan. All right, Karen, thank you for 795 00:45:56,440 --> 00:45:58,799 Speaker 1: coming up to five fifty six on Wall Street Time 796 00:45:58,840 --> 00:46:01,640 Speaker 1: Now for our daily blue Burg Law Brief, exploring legal 797 00:46:01,719 --> 00:46:04,959 Speaker 1: issues in the news. Today, we're looking at the Supreme Court, 798 00:46:05,040 --> 00:46:08,560 Speaker 1: which is off to a historically slow start this term. Actually, 799 00:46:08,960 --> 00:46:11,520 Speaker 1: the Justice is typically issue at least one opinion in 800 00:46:11,680 --> 00:46:14,799 Speaker 1: late November or early December, but so far they haven't 801 00:46:14,840 --> 00:46:19,880 Speaker 1: released any decisions this term. According to Empirical Scoutis creator 802 00:46:19,960 --> 00:46:23,480 Speaker 1: Adam Feldman, it's the first time since nineteen seventeen we 803 00:46:23,560 --> 00:46:25,880 Speaker 1: haven't seen a decision from the High Court yet. For 804 00:46:26,000 --> 00:46:29,440 Speaker 1: more on this slow start, Bloomberg's June Grosso speaks with 805 00:46:29,480 --> 00:46:33,520 Speaker 1: Bloomberg Law Supreme Court reporter Kimberly Strawberry Robinson. Are they 806 00:46:33,640 --> 00:46:36,520 Speaker 1: just kicking back and taking it easy or are there 807 00:46:36,680 --> 00:46:40,239 Speaker 1: other reasons that people have suggested? Well, I think it's 808 00:46:40,239 --> 00:46:42,360 Speaker 1: exactly the opposite of that. So there are a couple 809 00:46:42,480 --> 00:46:44,520 Speaker 1: of things that are really going on here, and I'll 810 00:46:44,520 --> 00:46:47,360 Speaker 1: say the first of which is something that could explain 811 00:46:47,480 --> 00:46:49,880 Speaker 1: why this is something we can expect to see in 812 00:46:49,920 --> 00:46:52,160 Speaker 1: the future as well, is just that there's been a 813 00:46:52,280 --> 00:46:55,560 Speaker 1: change in the membership of the Court, and so importantly, 814 00:46:55,719 --> 00:46:59,279 Speaker 1: Justice through Vader Ginsburg used to really pride herself on 815 00:46:59,440 --> 00:47:02,239 Speaker 1: getting not just the first opinion out of the term, 816 00:47:02,600 --> 00:47:06,120 Speaker 1: but really turning around opinions very quickly. And you know, 817 00:47:06,200 --> 00:47:09,239 Speaker 1: people speculate that that's in part because she came onto 818 00:47:09,280 --> 00:47:11,319 Speaker 1: the court at a time when they were hearing many 819 00:47:11,400 --> 00:47:14,520 Speaker 1: more cases, and so there was just this pressure to 820 00:47:14,719 --> 00:47:17,359 Speaker 1: turn around those opinions quickly so that there was enough 821 00:47:17,440 --> 00:47:19,680 Speaker 1: time at the end of the term to get out 822 00:47:19,719 --> 00:47:22,480 Speaker 1: all of their opinions. The current court, it seems like 823 00:47:22,560 --> 00:47:24,920 Speaker 1: most of the justices have been on the court when 824 00:47:24,960 --> 00:47:28,360 Speaker 1: they're accepting far fewer cases. Now, it's we're lucky if 825 00:47:28,400 --> 00:47:30,720 Speaker 1: we tend to get to sixty five of these days. 826 00:47:30,800 --> 00:47:33,280 Speaker 1: And so there's just not that pressure sort of built 827 00:47:33,360 --> 00:47:35,600 Speaker 1: into their d n A. And so I think this 828 00:47:35,760 --> 00:47:37,800 Speaker 1: is something we're probably going to be seeing more of 829 00:47:37,880 --> 00:47:42,120 Speaker 1: in the future. The last term was the most contentious 830 00:47:42,200 --> 00:47:45,560 Speaker 1: I can remember in a long time, and this term 831 00:47:45,640 --> 00:47:48,600 Speaker 1: looks like it's going to be fairly contentious as well, 832 00:47:48,719 --> 00:47:52,080 Speaker 1: maybe even more contentious. How did that play into getting 833 00:47:52,080 --> 00:47:55,360 Speaker 1: opinions out? That's right, So that's Actually, the second reason 834 00:47:55,560 --> 00:47:59,040 Speaker 1: why I think that this term in particular, we're seeing 835 00:47:59,200 --> 00:48:02,200 Speaker 1: a slow star for the justices is that, you know, 836 00:48:02,360 --> 00:48:05,560 Speaker 1: often the first opinion in an argued case comes in 837 00:48:05,640 --> 00:48:08,720 Speaker 1: one of these cases that are argued in October, maybe 838 00:48:08,800 --> 00:48:13,200 Speaker 1: early November. But this year the justices have really frontloaded 839 00:48:13,360 --> 00:48:16,400 Speaker 1: those contentious cases that you're referring to. So if you 840 00:48:16,440 --> 00:48:18,719 Speaker 1: look at October, you know, we kicked it off with 841 00:48:18,840 --> 00:48:21,600 Speaker 1: a major challenge to the e p A's abilities to 842 00:48:21,920 --> 00:48:25,360 Speaker 1: regulate wetlands. It was followed by, you know, a voting 843 00:48:25,480 --> 00:48:28,120 Speaker 1: case that could change the way that the Supreme Court 844 00:48:28,200 --> 00:48:31,600 Speaker 1: and all thorough courts look at certain claims brought under 845 00:48:31,600 --> 00:48:34,279 Speaker 1: the Voting Rights Act, and you know, even a really 846 00:48:34,320 --> 00:48:37,960 Speaker 1: foundational trademark case that was heard at the end of October. 847 00:48:38,040 --> 00:48:40,120 Speaker 1: And then if you moved into the beginning of November, 848 00:48:40,600 --> 00:48:42,600 Speaker 1: it's hard to believe that it was that long ago, 849 00:48:42,719 --> 00:48:45,120 Speaker 1: but that's when the Support heard those cases over the 850 00:48:45,160 --> 00:48:49,200 Speaker 1: affirmative action and higher education. So you know, those cases 851 00:48:49,400 --> 00:48:53,160 Speaker 1: just don't lend themselves to a quick turnaround. Not only 852 00:48:53,200 --> 00:48:55,879 Speaker 1: are they really hard issues for the Justice to sort out, 853 00:48:56,160 --> 00:48:58,120 Speaker 1: but it's likely that those are going to be divided 854 00:48:58,200 --> 00:49:01,040 Speaker 1: cases where you're gonna have dissenting it opinions that sort 855 00:49:01,080 --> 00:49:03,279 Speaker 1: of go back and forth with the majority opinions before 856 00:49:03,320 --> 00:49:06,120 Speaker 1: they're ready to let's be public kind of see how 857 00:49:06,200 --> 00:49:10,040 Speaker 1: those disagreements all shook out. And that's Bloomberg Law Supreme 858 00:49:10,080 --> 00:49:14,080 Speaker 1: Court reporter Kimberly Strawbridge Robinson speaking with Bloomberg Stune Grosso, 859 00:49:14,160 --> 00:49:16,360 Speaker 1: and you can catch more of that interview, plus analysis 860 00:49:16,480 --> 00:49:19,120 Speaker 1: of the latest legal news by subscribing to the Bloomberg 861 00:49:19,200 --> 00:49:22,399 Speaker 1: Law Podcast. You can download the show at Bloomberg dot com, 862 00:49:22,480 --> 00:49:25,800 Speaker 1: Slash podcasts, and attorneys can find exceptional legal research and 863 00:49:25,880 --> 00:49:28,960 Speaker 1: business development tools at Bloomberg Law dot com and on 864 00:49:29,040 --> 00:49:34,200 Speaker 1: the Bloomberg terminal at b Longo. Right now, futures are 865 00:49:34,239 --> 00:49:37,359 Speaker 1: moving just a touch lower. SMP futures are down three point, 866 00:49:37,400 --> 00:49:41,120 Speaker 1: staff futures down thirty seven, NASTAIC futures lower by seven points. 867 00:49:41,160 --> 00:49:43,799 Speaker 1: Attend your treasury is up six thirty seconds. You'ld three 868 00:49:43,880 --> 00:49:47,640 Speaker 1: point six three percent. Our two of Bloomberg Day Breaks 869 00:49:47,680 --> 00:49:48,960 Speaker 1: starts right now.