Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg
Speaker 1: day Break for Thursday, December twenty second two. Coming up
Speaker 1: the shower, Mukraine's president leads for more support in person
Speaker 1: to Congress. F t X executives flee guilty as their
Speaker 1: former CEO returns to the US. The largest U S
Speaker 1: ship maker warns more layoffs are on the way and
Speaker 1: investors hold out hope for a brief Santa Claus Rally.
Speaker 1: New York Mayor Adams gives himself a B plus as
Speaker 1: he defends his record on crime plus. The man Charred
Speaker 1: Wood shooting up a Brooklyn subway car will now lead
Speaker 1: guilty on Michael barn Or Ahead, I'm John dash Our.
Speaker 1: In sports, the Knicks Winspy came to an end, easy
Speaker 1: win for the Nets. The Devil's One in the Jets
Speaker 1: host Jacksonville Tonight. That's Alls Training Ahead on Bloomberg day
Speaker 1: Break on Bloomberg eleven three on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Syrius x M one nine Team and around
Speaker 1: the World Old on Bloomberg Radio Dot Carmen via the
Speaker 1: Bloomberg Business app. Good morning, I'm Nathan Hagard and I'm
Speaker 1: Karen Moscow and US Dock index futures are little change
Speaker 1: this morning, and we checked the markets all day long
Speaker 1: year on Bloomberg SNP futures again little change. So were
Speaker 1: in NAZDAC and Dow futures tenure Treasury up stix thirty seconds.
Speaker 1: He on three point six three percent of the yield
Speaker 1: on the two year four point one nine Nathan, Karen.
Speaker 1: We'll get more on markets in a moment, but begin
Speaker 1: We begin this morning with a historic night in Washington.
Speaker 1: The President of Ukraine, Voladimir Zelenski, made an emotional address
Speaker 1: in person to a joint meeting of Congress. We get
Speaker 1: the story from Bloomberg's at Baxter standing ovation after standing
Speaker 1: ovation from both sides of the aisle. The message Ukraine
Speaker 1: is alive and kicking and thanking US families for their support.
Speaker 1: And now what people will have to go to boom
Speaker 1: shelters on Christmas Eve, Ukrainias will still sit down at
Speaker 1: the quality table and cheer up each other. Zelenski says
Speaker 1: a free world will show all potential aggressors that the
Speaker 1: world will stand up to tyranny. He says next year
Speaker 1: will be a turning point of the war. He presented
Speaker 1: Congress with a flag from the war's front in San Francisco.
Speaker 1: I'm at bachetor Bloomberg daybreak, all right, ed, thank you know.
Speaker 1: This was President Zelenski's first trip outside his country since
Speaker 1: Russia's invasion back in February. Before the speech, the president
Speaker 1: paid a visit to the White House, where President Biden
Speaker 1: stood alongside Zelenski at a joint news conference to pledge
Speaker 1: his continued support. I want you to know that all
Speaker 1: the people who Ukraine to know as well the American
Speaker 1: people were with you every step of the way, and
Speaker 1: we will stay with you. We will stay with you
Speaker 1: for as long as it takes. And the Biden administration
Speaker 1: also announced nearly one point nine billion dollars in additional
Speaker 1: military aid to Ukraine, including a Patriot missile battery. Russian
Speaker 1: President Vladimir Putin meanwhile said Russia has no limitations on
Speaker 1: its own military spending to continue the war. Well, Nathan,
Speaker 1: We're following another story at d C this morning. A
Speaker 1: group of House Republicans has released a counter report to
Speaker 1: the House Select Committee's investigation into the January six Capital assault.
Speaker 1: The seventy eight page report partly blames Democratic leaders for
Speaker 1: security failures and says intelligence and law enforcement failures left
Speaker 1: the Capital complex vulnerable. The January six committee is expected
Speaker 1: to release it's full report today. All right, let's turn
Speaker 1: from the Capital to Crypto. Kareny hit the latest on
Speaker 1: the ft X collapse. Two top executives have pleaded guilty
Speaker 1: to criminal charges. As the former CEO of f t X,
Speaker 1: Sam Bankman Freed, returns to the US, Bloomberg Steve Rappaport
Speaker 1: joins US Live with that story. Good morning, Steve, Good morning,
Speaker 1: Nathan and Karen. Spf found himself with fewer friends upon
Speaker 1: arriving in New York last night, as Caroline Ellison and
Speaker 1: Gary Wang pled guilty to fraud. The plea agreements say
Speaker 1: prosecutors will recommend reduced sentences if they provide substantial assistance
Speaker 1: to the investigation. The move puts pressure on Bankman Freed
Speaker 1: ahead of his appearance in federal court today on charges
Speaker 1: of fraud, money laundering, another counts. His lawyers may seek bail.
Speaker 1: Live in New York, I'm Steve Rappaport, Bloomberg Daybreak, right, Steve,
Speaker 1: Thank you have it. Pivot away from COVID to zero
Speaker 1: continues in China. This morning, we're learning China plans to
Speaker 1: cut quarantine requirements for overseas travelers in January. Sources tell
Speaker 1: US officials are considering a zero plus three policy that
Speaker 1: would mean tourists would no longer be required to spend
Speaker 1: time in a quarantine hotel or isolation facility, and arrivals
Speaker 1: into the country instead or subject to three days of monitoring.
Speaker 1: All right, let's take a look at markets now. Karen
Speaker 1: futures are little changed this morning, but global stocks did
Speaker 1: advance for a third day yesterday as we edge closer
Speaker 1: to the Christmas holiday. US shares climbed on improved consumer
Speaker 1: confidence and better than expected earnings from FedEx and Nike.
Speaker 1: Earlier this week, markets snapped a four day slide sparked
Speaker 1: by hawkish central bank rhetoric. In Asia, Nathan stocks have
Speaker 1: snapped a losing streak of their own, coming off the
Speaker 1: Bank of japan surprise policy move earlier this week, and
Speaker 1: Bloomberg's Brian Curtis joins US from Hong Kong with more
Speaker 1: stocks rallied in Asia, snapping five days of declines The
Speaker 1: biggest moves were in Hong Kong, where the benchmark index
Speaker 1: rose about two and a half percent. Property companies led
Speaker 1: the way after regulators said they'd support the sector's growth.
Speaker 1: Shares also jumped in Japan, South Korea and Australia. Trasuries
Speaker 1: rose slightly in Asia as the fallout from the Bank
Speaker 1: of japan surprise policy shift began to ebb the en
Speaker 1: resumed its advance. Brian Curtis Bloomberg Day Break, All Right, Brian,
Speaker 1: thanks Meanwhile over in Europe, UK household southern living standards
Speaker 1: fall amid a contraction in the third quarter. Bloomberg's You
Speaker 1: and Potts joins us live from London with that good
Speaker 1: morning and good morning, Nathan and Karen. Household incomes in
Speaker 1: the UK have fallen for a fourth straight quarter, leaving
Speaker 1: Britain's on course for the worst period for living standards
Speaker 1: in memory. Real incomes behead were three point one percent
Speaker 1: lower in the third quarter from a year earlier. Final
Speaker 1: GDP day to meanwhile registered a no point three percent
Speaker 1: drop in the latest quarter, more than previously estimated. The
Speaker 1: reading is consistent with the quantum expectations that the UK
Speaker 1: is already in recession. In London, Immune Paul daybreak, all right,
Speaker 1: you and thank you, while taking a look at corporate news. Now,
Speaker 1: America's largest memory chip maker, Micron Technology, is out with
Speaker 1: a lackluster revenue outlook and a warning that it will
Speaker 1: have to trim its work force. S. Bloomberg's Dot Prisner
Speaker 1: joins us with that story. The company is already pledged
Speaker 1: to reduce output in slow expansion projects as a way
Speaker 1: of limiting the availability of memory chips. Even so, Micron's
Speaker 1: forecast indicates the glut may drag on given a slump
Speaker 1: in demand. Sales will be about eighty million dollars below forecast,
Speaker 1: and Micron is projecting a loss of about sixty two
Speaker 1: cents to share excluding certain items. That's more than twice
Speaker 1: what analysts were estimating. Given these challenges, Micron will reduce
Speaker 1: its workforce by about ten percent over the next year.
Speaker 1: In New York, I'm Doug Prisoner Bloomberg Daybreak, All right, Doug,
Speaker 1: thank you again. Futures this morning or little chain straight ahead,
Speaker 1: your latest local headlines plus a check of sports, and
Speaker 1: this is Bloomberg, Right, Karen, thank you. Thirty five degrees
Speaker 1: in Central Park. It's gonna turn rainy and windy this
Speaker 1: afternoon and into tomorrow. Highs today in the upper forties,
Speaker 1: and temperatures will rise through the night as a wind
Speaker 1: advisory kicks in. Attend this evening time me take a
Speaker 1: look at some of the other stories making news in
Speaker 1: New York and around the world with bloomberg S Michael
Speaker 1: bar Good morning, Michael, Good morning, Nathan. And as you mentioned,
Speaker 1: that's the problem. Millions of Americans taking to the roads
Speaker 1: and skies before Christmas could face big trouble getting to
Speaker 1: their destinations on time because of a massive winter storm.
Speaker 1: Several major hubs, including New York City, are all in
Speaker 1: the path of the storm and face significant disruptions. This
Speaker 1: man was headed to Orlando from New York, trying to
Speaker 1: get out ahead of the storm to see his family.
Speaker 1: We're gonna be ready for a long time. He should
Speaker 1: have been California before. We're gonna night again Christmas. It's
Speaker 1: not just flights being canceled. A rack has scraps service
Speaker 1: for dozens of routes. New York City Mayor Eric Adams
Speaker 1: defended his record on crime, giving himself a B plus.
Speaker 1: In his first year in office, there was a rise
Speaker 1: in major felonies through December, but Adams says through the
Speaker 1: top line numbers, they do not tell the whole story,
Speaker 1: as we highlighted double digit drops in the high profile
Speaker 1: murders and shootings. Public safety is the foundation of the city.
Speaker 1: I've used this term over and over again. It's the
Speaker 1: prerequisite to prosperity. Without it, we won't feel the safety
Speaker 1: we deserved. Mayor Adams went on to say that New
Speaker 1: Yorkers should feel better about the direction we are headed.
Speaker 1: A New York City court has scheduled a change of
Speaker 1: plea hearing for next month for the man accused of
Speaker 1: opening fire on a Manhattan bound subway train last April.
Speaker 1: In a letter to the court, his attorney said the
Speaker 1: alleged New York City subway shooter, Frank James, wants to
Speaker 1: plead guilty to federal terrorism charges. James was sharp with
Speaker 1: several counts of committing a terror attack on a mass
Speaker 1: transit system. Ten people were hurt in the shooting. Final
Speaker 1: CDC data confirms American life expectancy fell for a second
Speaker 1: straight year in twenty twenty one, the worst since it's
Speaker 1: driven by accelerating COVID and drug overdose DUTs for the men,
Speaker 1: it has dropped from seventy four point two years to
Speaker 1: seventy three point five years. For women, it's from seventy
Speaker 1: nine point nine to seventy nine point three. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. Michael barn this is Bloomberg, Nathan.
Speaker 1: Thanks Michael. Time now for our Bloomberg Sports update, brought
Speaker 1: to you if I try stayed out em Morney John
Speaker 1: Stanshower in the morning, Nathan, one winning streak ended, another
Speaker 1: continued At the Garden, Nicks couldn't stop Toronto's Pascal Siakaman
Speaker 1: poured in fifty two points the Raptors, and in their
Speaker 1: six game losing streak one thirteen one on six, Julius
Speaker 1: Randall R. J. Barrett both had thirty points with the Knicks,
Speaker 1: who had won their previous eight. In Brooklyn, the Nets
Speaker 1: win streak up to seven one forty three to one
Speaker 1: thirteen over struggling Golden State. The Nets led one fifty
Speaker 1: one at halftime, ninety one first half points, third most
Speaker 1: in NBA history. The Devil's three goals third period to
Speaker 1: win four two at Florida. That ends there six games slide. St.
Speaker 1: John's lost at Villanova's seventy eight to sixty three. If
Speaker 1: the Jets have any hopes of making the playoffs, they
Speaker 1: have to win tonight in the rain at Met Life.
Speaker 1: Jacksonville comes in much improved, led by quarterback Trevor Lawrence.
Speaker 1: They're only a game out of first in the a
Speaker 1: s C South. The Jets are came out for making
Speaker 1: it as a wild card. Four members of the Jets
Speaker 1: defense named as Pro Bowlers. They still named the rosters
Speaker 1: even though they're no longer a Pro Bowl game. Quentin Williams, C. J. Mosley,
Speaker 1: Justin Hardy and Sauce Gardner is the first Jet rookie
Speaker 1: Pro Bowlers since eight. Tae Kwon Barkley and Dexter Lawrence
Speaker 1: named from the Giants. Philadelphia has eight Pro Bowlers. Dallas
Speaker 1: in Kansas City had seven. When you saw that Derek
Speaker 1: Jeter was in attendance that the Aaron Judge New Contract
Speaker 1: press conference, you knew there would be an announcement that
Speaker 1: Judge would be the first Yankee captain since Jeter. I'm
Speaker 1: gonna continue to try to be you know, the same
Speaker 1: leader that I've been in the past six years. Continue
Speaker 1: to lead by example, and I know there's probably gonna
Speaker 1: be a couple of more responsibilities with this, but you
Speaker 1: know I'm here to embrace every single obstacle and you know,
Speaker 1: continue to lead this team and lead the city to
Speaker 1: to not one of them, you know, multiple championships down
Speaker 1: the road. Six Captain and Yankee District. Bomberg All right, John,
Speaker 1: thank you. Boomberg Sports was brought to you by Audie.
Speaker 1: Don't let someone else drive off in the outie model.
Speaker 1: You've always wanted to visit your local price state autie
Speaker 1: dealer to get behind the wheel of yours today, or
Speaker 1: visit autie Offers dot com for more information. We get
Speaker 1: more reaction to President Zelenski's visit to Washington. Next first
Speaker 1: futures of taking a leg a little change now giving
Speaker 1: up the game's SMP futures right now are down by
Speaker 1: one point. Live from coast to coast, from New York
Speaker 1: to San Francisco, Boston to Washington, d C. Nationwide on
Speaker 1: Sirius Examp, the Bloomberg Business App, and Bloomberg dot Com.
Speaker 1: This is Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's
Speaker 1: get back to our top story this morning. It was
Speaker 1: a dramatic night on Capitol Hill Ukrainian President Voladimir Zelinski
Speaker 1: urging lawmakers in the US to keep up their support
Speaker 1: for his country in person before a joint meeting of
Speaker 1: Congress against all and doom and gloom scenarious. Yukraine didn't fall.
Speaker 1: Yugrain is alive and keating. And we're joined now by
Speaker 1: Terry Haines, the founder of Pangaea Policy. Terry, quite a
Speaker 1: moment on Capitol Hill last night, your reaction to what
Speaker 1: we heard, what we saw from Ukrainian president's lane scheme,
Speaker 1: Good morning, Nathan, And it was quite a moment uh
Speaker 1: of you know, sort of mutual thanking, mutual support, mutual
Speaker 1: respect and regard. All those things are very good. Uh.
Speaker 1: You know, we get past that into uh the really
Speaker 1: cold light of morning. Uh, certainly on the US East
Speaker 1: coast of what you're gonna see is that also one
Speaker 1: of the things that the President Biden said to Zelenski
Speaker 1: into the American public is that then you know, there
Speaker 1: won't be any advanced weapons beyond the Patriot missile battery
Speaker 1: because to do so risks US alliances quote unquote. Uh,
Speaker 1: there's also continuing interest in what the administration thinks to
Speaker 1: be its endgame. Uh. You know, the Russia continues to
Speaker 1: talk about the potential for settlement those the potential isn't realistic,
Speaker 1: but you know, you have to wonder what Washington thinks
Speaker 1: its endgame is and whether it might be enticed by
Speaker 1: by the prospect of a set littlement were And of course,
Speaker 1: as everybody knows, since we're a long way from resolution
Speaker 1: on the battlefield, uh, you know, that might well look
Speaker 1: more tempting to the Western allies as time goes on.
Speaker 1: Uh So uh, entirely legitimate feel good movement moment here,
Speaker 1: uh and for all kinds of you know, important reasons.
Speaker 1: But at the same time, you know, at the end
Speaker 1: of the day, not really much has changed your going forward.
Speaker 1: So you don't think that the president's message is going
Speaker 1: to change many minds then, particularly among the Republicans, who
Speaker 1: have said that once they take control of Congress, if
Speaker 1: not to continue support for Ukraine at least to give
Speaker 1: it more of a skeptical eye or at least more scrutiny. Well,
Speaker 1: I think, you know, let me put it this way,
Speaker 1: I think it's uh, you know, it's uh well, on
Speaker 1: the one hand, politics is being played here and you know, shocker, right,
Speaker 1: but uh, you know, all the way around. In the end,
Speaker 1: what Republicans have wanted for some time and continue to want,
Speaker 1: uh fundamentally is for for accountability for the money that's
Speaker 1: already gone out, the account of accountability for the money
Speaker 1: that you know will go out with the with the
Speaker 1: new Omnibus and the new Ukraine package. Uh. That's all fair.
Speaker 1: I mean, that's part of what Congress's job is supposed
Speaker 1: to be is to you know, make make decisions on
Speaker 1: appropriations for for national defense, emergency appropriations for uh, important
Speaker 1: things like Ukraine. But at the same time, you know
Speaker 1: that what they really want is accountability. They should get that.
Speaker 1: The Biden people should should prepare to give them a
Speaker 1: good deal of that, and frankly President Zelenski should be
Speaker 1: prepared to give them some of that. I think you
Speaker 1: will see a great deal of unit continued, great deal
Speaker 1: of unanimity on on Ukraine, and that what ends up
Speaker 1: happening here is a more regularized process US for understanding
Speaker 1: what United States money is being used for. And that's
Speaker 1: you know, I consider that fair. You got about a
Speaker 1: minute left here, Terry, do you think this omnibus bill
Speaker 1: gets passed before the end of this week? There's been
Speaker 1: some dispute over Title forty two being included in the package. Oh, sure,
Speaker 1: I think it does. Yeah. Uh. The Supreme Court has
Speaker 1: certainly has the opportunity to to to throw a standard
Speaker 1: and the works on this. But I think that fundamentally, uh,
Speaker 1: you know, this omnibus is going to pass. Uh. I'd
Speaker 1: say there's probably about a ten percent right now, because
Speaker 1: we talk about ten percent chance that it won't. But uh,
Speaker 1: fundamentally I think it will. Um. I do think the
Speaker 1: Congress is going to have to be back at it
Speaker 1: early in the year, regardless after the Supreme Court rules
Speaker 1: on whether or not Title forty two should go forward.
Speaker 1: So just quickly, when it comes to Ukraine, what do
Speaker 1: you see as the trajectory for continued support in terms
Speaker 1: of weaponry for Ukraine in the next Congress? Only about
Speaker 1: thirty seconds left here. Yeah, I I think that the
Speaker 1: trajectory for for Ukraine weaponry is really that, you know,
Speaker 1: we we will continue to provide what we're already providing.
Speaker 1: We will continue to provide the Patriot missile battery that
Speaker 1: we said we would provide. I understand that that will
Speaker 1: take some time to train the Ukrainians up on. But
Speaker 1: I do not expect that we're going to expand UH
Speaker 1: into giving Ukrainians advanced weaponry. But because that's what the
Speaker 1: president said yesterday. All right, Terry, thanks as always, good
Speaker 1: gates your thoughts, particularly on a morning after a historic
Speaker 1: night like we just had experienced. Here. Terry Haynes, the
Speaker 1: founder of Pangea Policy with us this morning, and we're
Speaker 1: gonna bring you more reaction to the Ukrainian president's appearance
Speaker 1: in Washington. Michigan Democrat Dan killed these thoughts straight ahead
Speaker 1: here on Bloomberg Daybreak, looking ahead to the market open.
Speaker 1: Futures are turning just a touchflower now, with SMP futures
Speaker 1: down four point, staff futures down thirty eight, in NASTAIC
Speaker 1: futures down nine points. This is gloom Markets headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business and at Bloomberg Quicktape. This is a
Speaker 1: Bloomberg Business lash and I'm Karen Moscow. US dock index
Speaker 1: futures are a little changed to lower this morning and
Speaker 1: European shares ever raised their games. We checked the markets
Speaker 1: all day long year on Bloomberg Rankio again, SNP, NASDAC
Speaker 1: and down futures pretty much little change now. Future is
Speaker 1: now down about a tenth of upper cent or thirty
Speaker 1: three points. The decks in Germany is down about two
Speaker 1: tents of a per cent ten. Your treasury up four
Speaker 1: thirty seconds. You have three point six four percent. The
Speaker 1: yield on a two year four point one nine percent.
Speaker 1: NIMEX screwed oil is at one point seven percent, up
Speaker 1: a dollar twenty nine at seventy nine dollars fifty eight
Speaker 1: cents of barrel comic school. Little change is at eighteen
Speaker 1: twenty four or forty announced. The euro one point oh
Speaker 1: six four or five against the dollar, British bound one
Speaker 1: point two zero nine one, the had one thirty two,
Speaker 1: and bitcoin is up three tents of a percent. It's
Speaker 1: at about sixteen thou eight hundred fifty dollars. That's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with Moore on
Speaker 1: what's going on around the world. Michael, good morning, Good morning, Karen.
Speaker 1: Ukrainian President Voladimir Zelenski has paid a wartime visit to
Speaker 1: Washington to thank Americans for helping to fund the war
Speaker 1: against Russia, and a speech to Congress, he said the
Speaker 1: money is not charity, by that investment in global security
Speaker 1: and democracy. Americans traveling before Christmas could face big trouble
Speaker 1: getting to their destinations on time because of a massive
Speaker 1: winter storm. China plans to cut quarantine requirements for overseas
Speaker 1: travelers in January. According to people familiar with the matter,
Speaker 1: there will be no more hotel quarantines. In the NBA.
Speaker 1: The next loss, the Nets down the Warriors one thirteen
Speaker 1: in the NHL, The Devil's Won. Global news twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty undred journalists and analysts and more
Speaker 1: than a hundred twenty country Michael Barr, this is Bloomberg.
Speaker 1: Nathan all right, Michael, thank you. It's five twenty three
Speaker 1: on Wall Street. I'm Nathan Hagar. This is Bloomberg day Break.
Speaker 1: Let's turn to another major story in Washington, d C.
Speaker 1: From Ukraine's president visiting to former President Trump's tax returns.
Speaker 1: Democrats on the House Ways and Means Committee voted to
Speaker 1: release information on the former president's personal and business taxes.
Speaker 1: They show his his financial losses shielded him from paying
Speaker 1: much income tax since twenty fifteen. Our Republicans are calling
Speaker 1: the release of these documents a dangerous president Bloomberg's Joe
Speaker 1: Matthews spoke with one of the committee members, Democrat Dan
Speaker 1: Kildee of Michigan, who responded to the GOP complaint. I
Speaker 1: don't think it sets a dangerous precedent. I actually think
Speaker 1: the most dangerous precedent that we could set is to
Speaker 1: have before us evidence that the I R s failed
Speaker 1: to live up to their own obligation to audit the
Speaker 1: president of the United States. They simply didn't do it.
Speaker 1: And we have tax with friends that we've been able
Speaker 1: to examine. The show really serious red flag, you know,
Speaker 1: the notion that the precedent was a dangerous precedent to act.
Speaker 1: I think the most dangerous precedent would be for Congress
Speaker 1: to look at those two pieces of information and just say, oh, well,
Speaker 1: you know, to me, that sends a message, the message
Speaker 1: being that if you're powerful and wealthy, you can continue
Speaker 1: to secure the laws. We decided we're not going to
Speaker 1: allow that to happen, and so we forwarded this information
Speaker 1: onto the U. S. House of Representatives with the legislative
Speaker 1: proposal to fix it. And you know what, that's the
Speaker 1: job I was elected to do. If it makes sense.
Speaker 1: People uncomfortable because they want to continue to sort of,
Speaker 1: you know, circle the wagons around Donald Trump. But they're
Speaker 1: gonna have to explain that, you know, to their constituents
Speaker 1: why they would prefer not to act. I just couldn't
Speaker 1: do it as a good conscience. So what happens next year?
Speaker 1: How and when they be made public? Well, we're our staff,
Speaker 1: there's a venocratic and Republicists are working to product from
Speaker 1: those returns any of those sensitive personal pieces of information
Speaker 1: you know, social security numbers, tax identification numbers, addresses, you know,
Speaker 1: even bank record numbers, things of that nature, simply redactive.
Speaker 1: We don't want to help that implements in public, you know,
Speaker 1: in public do but that should take you know a
Speaker 1: matter of hours and days that needs so I would
Speaker 1: suspect with them the next couple of days. Uh, those
Speaker 1: those documents would be available. You've seen them. Are we
Speaker 1: in for something here? Yes? And a sussassinates to to
Speaker 1: take a look at these returns in the lack of
Speaker 1: documentation for huge cash charitable contributions, for example, or loans
Speaker 1: and you know teen family members, or you know, conservation
Speaker 1: easements that are enormous, and then the lap of responsibility
Speaker 1: to actually pay taxes. Two of the taxes President Trump
Speaker 1: paid seven seven dollars in federal income taxes one year zero.
Speaker 1: There's no circumstance that I can explain to a teacher
Speaker 1: or firefighter at bath home that they have to pay
Speaker 1: their taxes or they're going to face severe penalty. And
Speaker 1: a person who happens to be the president of the
Speaker 1: United States has the pleasuring Department in the RS essentially
Speaker 1: under his control, can flop the law, not pay taxes
Speaker 1: and continue to be one of the wealthiest people in
Speaker 1: the country, according to his own characterization, I can't explain that.
Speaker 1: Democratic Congressman Dan Kilty of Michigan speaking with Joe Matthew
Speaker 1: on Bloomberg Sound On. Catch the show weeknights at five pm,
Speaker 1: all Street time on Bloomberg Radio. Now, here's Bloomberg Meteorologist
Speaker 1: Rob Carolyn with your weather forecast. The National Weather Service
Speaker 1: has the region under a wind advisory from ten pm
Speaker 1: tonight through ten pm Friday night. Cloudy and brees with
Speaker 1: rain developing this afternoon forty five to fifty, rainy, windy tonight,
Speaker 1: temperatures climbing into the fifties. Rain ends tomorrow fifty to
Speaker 1: fifty five. Tomorrow morning cold. During the afternoon, it's windy,
Speaker 1: partly sunny, breezy. Saturday height Christmas Day, sunny to thirty.
Speaker 1: I'm Rob Carolyn with your weekend forecast on Bloomberg eleven
Speaker 1: three oh broadcasting live from the Bloomberg Interactive Broker Studio
Speaker 1: in New York, Bloomberg Elving freedon to Washington, d C,
Speaker 1: Bloomberg nine one to Boston, Bloomberg what All six, one
Speaker 1: to San Francisco, Bloomberg sixty to the Country, Sirius XM
Speaker 1: chto one, and around the globe the Bloomberg Business and
Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak. We're coming
Speaker 1: up to five thirty on Wall Street. Good morning, I'm
Speaker 1: Nathan Hagar and I'm Karen Moscow and are just about
Speaker 1: four hours away from the open of US trading. Let's
Speaker 1: get you up to date on the news you need
Speaker 1: to know at this hour. We begin with a historic
Speaker 1: night in Washington. Ukraine's President Vladimir's Lensky made an emotional
Speaker 1: address in person to a joint meeting of Congress. Europe
Speaker 1: is now stronger and more independent than never. The Russian
Speaker 1: Kiraany has lost control over US. This was President Zelenski's
Speaker 1: first trip outside his country since Russia's invasion in February,
Speaker 1: and during the trip, Karen, the Biden administration announced nearly
Speaker 1: one point nine billion dollars in additional military aid to Ukraine,
Speaker 1: including a Patriot missile battery. Russian President Vladimir Putin meanwhile
Speaker 1: says Russia has no limitations on its own military spending.
Speaker 1: And We're following another story ont A DC this morning, Nathan,
Speaker 1: A group of House Republicans has released a counter report
Speaker 1: to the House Select Committee's investigation into the January six
Speaker 1: capital assault. The January six Committee is expected to release
Speaker 1: it's full report today. Let's get the latest down the
Speaker 1: ft X collapse, Karen to top executives have pleaded guilty
Speaker 1: now to criminal charges and Bloomberg. Steve Rappaport joins US
Speaker 1: Live with the latest. Steve. Good morning, Nathan and Karen.
Speaker 1: Ahead of Sam Bankman Freed's appearance in court today, Caroline
Speaker 1: Ellison and Gary Wang pled guilty to fraud as prosecutors
Speaker 1: ramp up pressure in their case against him. The Plea
Speaker 1: Deal calls for the government to recommend reduced sentences if
Speaker 1: they provide substantial assistance in the investigation. Bankman free touchdown
Speaker 1: in New York last night after waving his right to
Speaker 1: extradition from the Bahamas. Live in New York. I'm Steve Rappaport,
Speaker 1: Bloomberg Daybreak. All right, Steve, thanks for taking a look
Speaker 1: at the markets now. Futures are little change this morning.
Speaker 1: Global stocks advanced for a third day yesterday as we
Speaker 1: edge closer to the Christmas holiday. But Brian Jacobson, senior
Speaker 1: investment strategist with all Spring Global Investments, says markets are
Speaker 1: pricing in a recession, though there still are buying opportunities.
Speaker 1: Look at some of the cyclical names, maybe look at
Speaker 1: some small caps and mid caps and emerging markets, and uh,
Speaker 1: let's not forget that this is actually a pretty decent
Speaker 1: environment where bonds can once again diversify a portfolio. Springs.
Speaker 1: Brian Jacobson says markets are also pricing in lower earnings
Speaker 1: in three Speaking of earnings, Karen, America's largest memory chip maker,
Speaker 1: Micron Technology, is out with a lackluster revenue outlook from
Speaker 1: me yesterday, and that led to a warning that Micron
Speaker 1: will also have to trim its workforce. Taking a look
Speaker 1: at Micron and early trading, the stock is down two
Speaker 1: point eight percent. Futures though are little changed to lower
Speaker 1: SMP futures are down two points, Stole futures down twenty
Speaker 1: nine and NASAC features are lower by eight points. The
Speaker 1: ten your treasury is up five thirty seconds, you know
Speaker 1: three point six four. Nimex crudes up to up one
Speaker 1: point six percent at seventy seven of barrel comic golds
Speaker 1: little change down a buck ten at announced. The euro
Speaker 1: right now trading at one point zero six four two
Speaker 1: against the dollar. Straight ahead, we have your latest local headlines,
Speaker 1: plus the check of sports. You're listening to Bloomberg Daybreak
Speaker 1: one on Wall Street. We bring in Michael bar to
Speaker 1: take a look AT's what's going on in New York
Speaker 1: and around the world. Kind of got a hunkered down
Speaker 1: if we're not traveling, Michael. One word, Nathan E. Gas.
Speaker 1: Millions of Americans taking to the roads and skies before
Speaker 1: Christmas could face big trouble getting to their destination on
Speaker 1: time because of a massive winter storm. Several major hubs,
Speaker 1: including New York City, are all in the path of
Speaker 1: the storm and face significant disruptions. This traveler in New
Speaker 1: York was headed towards the storm trying to get home
Speaker 1: to Detroit. Actually was on the airplane waiting to taxi
Speaker 1: out and we got canceled going to Bismarck, North Dakota.
Speaker 1: Airlines have been canceling hundreds of flights. New York City
Speaker 1: Mayor Eric Adams defended his record on crime. He wrapped
Speaker 1: up his first year in office amid rise in major
Speaker 1: felonies through November. Mayor Adams says, though the top line
Speaker 1: number does not tell the whole story, as he highlighted
Speaker 1: double digit drops in the high profile murders and shootings.
Speaker 1: And I'm talking to New york Is every day when
Speaker 1: I'm on the subway system, walking the street, interacted with
Speaker 1: them in coaches, in houses, roached up in synagogues. That's
Speaker 1: the number one thing on their minds. They want to
Speaker 1: be safe, and they deserve to be safe. Mayor Adams
Speaker 1: gave himself a B plus in fighting crime in the city.
Speaker 1: A man accused of wounding ten people in a mass
Speaker 1: shooting on a crowded subway train in Brooklyn told his
Speaker 1: lawyers he'd like to plead guilty next month to all
Speaker 1: of the charges against him, including terrorism offenses. His attorneys
Speaker 1: say Frank James wants to plead guilty of the first
Speaker 1: week of January and April. The shooters set off a
Speaker 1: pair of smoke grenades and then scattered a barrage of
Speaker 1: random shots inside the train. One senator made a rail
Speaker 1: the one point seven trillion dollars spending bill. Utah Republican
Speaker 1: Senator Mike Lee once an amendment that would reinstate Title
Speaker 1: forty two. GLOBALA was twenty four hours a day on
Speaker 1: air and Bloomberg Quick Take, powered by more than twenty
Speaker 1: seven hundred journalist and analysts more than a hundred twenty countries.
Speaker 1: Michael Barr, This is Bloomberg NA. Thanks Michael. By thirty
Speaker 1: three on Wall Street Time for the Bloomberg Sports Update,
Speaker 1: brought to by Tri State out Here's John stash Our.
Speaker 1: All right, Nathan Nixon one eight in a row and
Speaker 1: five of the eighth. They had not allowed a hundred points,
Speaker 1: but at the guard in Toronto's Pascal Siaka went for
Speaker 1: over half a hundred by himself fifty two points. The
Speaker 1: Raptors ended the next win Street one thirteen one oh
Speaker 1: six in the lost thirty points of both Julius Randall
Speaker 1: and R. J. Barrett for an off night for Jalen
Speaker 1: Bronze front and he shot just three or fourteen nets.
Speaker 1: Have won their last seven eleven and twelve at Barclay's
Speaker 1: a one forty three to one thirteen route of Golden State.
Speaker 1: Nets led fifty one at half time, nine nets and
Speaker 1: double figures of the Warriors. Two games back to back
Speaker 1: nights in New York and they lost by thirty eight
Speaker 1: and thirty much needed win for the Devils. They lost
Speaker 1: their last six. They rallied to win at Florida four
Speaker 1: to two. St. John's lost at Villanova seventy eight to
Speaker 1: sixty three. Aaron Judge, yet Yankee stated to talk about
Speaker 1: his new nine year contract and about being named Yankee Captain.
Speaker 1: Get a chance to continue you know something the Yankees
Speaker 1: you know, are so big on, which is legacy. You know,
Speaker 1: continue to get a chance to continue my legacy here
Speaker 1: in pin stripes, you know, in the best city in
Speaker 1: the world, the best baseball city, in the front of
Speaker 1: the best fans. This is uh an incredible honor. First
Speaker 1: captain since Derrik Peter, who was in attendance. The numbers
Speaker 1: in after the studying Carlos Careas signing the metal out
Speaker 1: of payroll of three hundred and eighty four million, they'll
Speaker 1: pay attacks of a hundred eleven millions, and they'll shell
Speaker 1: out almost half a billion in three Jets and Jaguars.
Speaker 1: They're gonna be playing in the rain tonight at Metlive.
Speaker 1: The Jets out end a three game losing streak. They
Speaker 1: have dropped to five hundred Stash Award Bloomberg Sports n Rant.
Speaker 1: You buy out E, don't let someone else drive off
Speaker 1: in the out model you've always wanted. Visit your local
Speaker 1: Tri State OUTI dealer to get behind the wheel of
Speaker 1: yours today, or visit outie Offers dot com for more
Speaker 1: information on Wall Street. Time for the Tri State Business Report,
Speaker 1: Let's bring in Bloomberg's ad Cory. New York will be
Speaker 1: the fourth state to require salary ranges with job postings
Speaker 1: when a new law takes effect in September. It applies
Speaker 1: to all employers across New York with four or more workers.
Speaker 1: Is Fall one and every five people in the US
Speaker 1: will be living in a state with so called pay
Speaker 1: transparency laws. Amazon dot Com and other big warehouse operators
Speaker 1: in New York State faced new limits on the quota
Speaker 1: systems they can use to boost worker productivity. Under legislation
Speaker 1: Governor Kathy Hokele is signed into law. It's similar to
Speaker 1: a first of a kind warehouse workers safety law that
Speaker 1: California enacted in two thousand twenty one. Netflix will develop
Speaker 1: a production facility on the former Fort Monmouth campus and
Speaker 1: Monmouth County, New Jersey Governor Phil Murphy's office has Netflix
Speaker 1: plans to commit eight hundred forty eight million dollars in
Speaker 1: investments to develop the more than two hundred nine two
Speaker 1: acre parcel. It's projected to create more than fifteen hundred
Speaker 1: production jobs. That's your Bloomberg Trying State Business Report. I'm
Speaker 1: did Corey, alright, and thank you. It is five on
Speaker 1: Wall Street. The following is an editorial from Bloomberg Opinion.
Speaker 1: This editorial was written by the Bloomberg Editorial Board. Deciding
Speaker 1: what can be built where is a perfectly legitimate power
Speaker 1: of local governments across America. It's also a tool of
Speaker 1: exclusion that undermines the economy, deepens inequality, and even exacerbates
Speaker 1: climate change. Particularly in neighborhoods with the best schools and
Speaker 1: access to jobs. Politically active residents who tend to be older, affluent,
Speaker 1: and white have long adopted rules to keep others out.
Speaker 1: It's a prime example of local government gone wrong. Fortunately,
Speaker 1: the pro market and pro equality aspects of zoning reform
Speaker 1: give it bipartisan appeal, visible in the support for legislation
Speaker 1: at the state and national levels. To be sure, zoning
Speaker 1: reform alone won't solve the country's housing crisis, but it's
Speaker 1: a task that federal and state governments must urgently undertake.
Speaker 1: This editorial was written by the Bloomberg editor aboard. For
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash
Speaker 1: Opinion or O P I N go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg opinion, and you can hear Bloomberg
Speaker 1: opinion editorials every weekday at this time. Terminal customers can
Speaker 1: read more at O P I N go. Another story
Speaker 1: we're following this morning, puff star Justin Bieber said to
Speaker 1: score a massive deal that would put his music rights
Speaker 1: under the ownership of Hypnosis song management and investment entity
Speaker 1: backed by Black Stones. Or hearing from sources Bieber steak
Speaker 1: in his publishing rights and recorded music catalog could fetch
Speaker 1: about two hundred million dollars. We're told the agreement hasn't
Speaker 1: been signed, nothing is imminent, but quite a payday potentially
Speaker 1: for Justin Bieber if he gets on the parade of
Speaker 1: artists that are selling their music rights. Future is moving lower.
Speaker 1: On this Thursday morning, you're listening to Bloomberg Daved good
Speaker 1: morning Markets, headlines and breaking news twenty four hours a
Speaker 1: day at Bloomberg dot com, the Bloomberg Business and at
Speaker 1: Bloomberg Quick Take, She's a Bloomberg Business lash and I'm
Speaker 1: Karen Moscow. And US dot index futures are struggling for
Speaker 1: direction and they're trying to hold onto the momentum that
Speaker 1: propelled the SNP five hundred to its best daily gain
Speaker 1: in three weeks. This is investors assess whether the world's
Speaker 1: biggest economy can skirt worst case recession scenarios. And we
Speaker 1: check the markets all day long here on Bloomberg SMP
Speaker 1: futures Again that will change, so were in NASTAC and
Speaker 1: Dow futures. The decks in Germany down about a tenth
Speaker 1: of a percent. Ten Your treasury of five thirty seconds.
Speaker 1: You have three point six four percent, the yield of
Speaker 1: the two year four point one nine percent nine x
Speaker 1: screwed oils higher, up one point seven percent of a
Speaker 1: dollar twenty nine. It's seventy nine dollars fifty eight cents
Speaker 1: of barrel co make school. That will change in seventy
Speaker 1: announced the euro one point six four nine against the
Speaker 1: doll they're British pound one point two zero nine seven
Speaker 1: then one two and bitcoin is up a quarter percent
Speaker 1: at about sixteen eight hundred dollars. And today we are
Speaker 1: watching for a report on third quarter GDP at a
Speaker 1: eight thirty Wall Street time, along with the weekly report
Speaker 1: on initial jobless claims, and as a Bloomberg Business flash.
Speaker 1: Now he's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Ukrainian
Speaker 1: President Voladimir Zelenski pressed the US Congress for tanks, planes,
Speaker 1: and more money to help repel Russia's invasion. In his
Speaker 1: first trip abroad since the wars, Zelenski told a joint
Speaker 1: meeting of Congress that US support has been crucial so far.
Speaker 1: The reports set to be released today by House Investigators
Speaker 1: claims that then President Donald Trump criminally plotted to overturn
Speaker 1: his election defeat and provoked his supporters to violence at
Speaker 1: the Capitol with false claims of voter fraud. In the NBA,
Speaker 1: the next loss, and that's down the Warriors one in
Speaker 1: the NHL, the Devil's won. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than hundred journalists analyst or more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, Okay, Michael. Thanks,
Speaker 1: It's five forty two on Wall Street. This is Bloomberg
Speaker 1: day Break. I'm Nathan Hager. She's Karen Moscow. And here's
Speaker 1: some of this other stories we're watching this morning. We've
Speaker 1: got our eyes on corporate America, starting with Twitter CEO
Speaker 1: Elon Musk was on a Twitter spaces chat this week.
Speaker 1: He says the platform was on course to hit three
Speaker 1: billion dollars in negative cash flow, so that's why I
Speaker 1: spent the last five weeks cutting costs like crazy. Now.
Speaker 1: Elon Musk does say he plans to step aside as
Speaker 1: Twitter CEO, though he will keep a close eye on
Speaker 1: the social platform with a focus on its engineering teams. Well, Nathan,
Speaker 1: we have a note for a muss other company as well.
Speaker 1: TSSLA is offering US consumers seven thousand, five hundred dollars
Speaker 1: to take delivery. It's too cheapest models before a year end.
Speaker 1: It's a move that's likely to stir up more debate
Speaker 1: over the extent of the carmakers struggle with demand. It's
Speaker 1: highly unusual for test Lata offers such a perk, as
Speaker 1: Elon Musk has enforced a no discount policy going back years.
Speaker 1: While speaking of cars, Karen, We're gonna be keeping an
Speaker 1: eye on CarMax stock this morning. The used car dealer
Speaker 1: reports earnings before the opening bell, and analysts do expect
Speaker 1: a drop in revenue. Carmacks is the US leader in
Speaker 1: used car sales, and it may be better positioned than
Speaker 1: some of its peers like Carbona and Room in a
Speaker 1: down market. So yeah, we will definitely be keeping an
Speaker 1: eye on Carmacks this morning. Pretty hard to fit a
Speaker 1: car under a Christmas tree isn't a name, but you
Speaker 1: can fit it in a vending machine. Apparently that's true. Indeed, Well,
Speaker 1: weekly jobless claims data set for release at eight thirty
Speaker 1: am Wall Street Time and the report could instill confidence
Speaker 1: in the fate of the US labor market. Bloomberri's if
Speaker 1: any down, Judas gives us a preview. Weekly jobless claims
Speaker 1: are still running historic clos that could change in three
Speaker 1: The Federal Reserve is poised to keep with the interest
Speaker 1: rates to fight inflation by tempering economic growth. That jer
Speaker 1: Jerome pals is. As far as the Central Bank is concerned,
Speaker 1: the labor market remains too tight, underscoring that job openings
Speaker 1: remain at record highs. Benny Judae s Bloomberg day break.
Speaker 1: Al right, Benny, thanks. Meanwhile, we get existing home sales,
Speaker 1: and we got them yesterday. They fell for a tenth
Speaker 1: straight month that extended a record decline. It comes on
Speaker 1: the heels of a stronger than expected consumer confidence report
Speaker 1: and will also get consumer spending data tomorrow morning, a
Speaker 1: slave full of economic data before the holidays. Takeing a
Speaker 1: look at oil this morning, Karen. It held gains that
Speaker 1: were made over the last three days as traders way
Speaker 1: concerns that near term Chinese demand could decline against lower
Speaker 1: US inventories and a week or dollar. But wow, I'm
Speaker 1: excrude is surging right now at one point seven per
Speaker 1: cent or a dollar thirty one. If you've got seventy
Speaker 1: nine dollars and fifty nine cents, you too can buy
Speaker 1: a barrel of West Texas Inner media crew. Now, let's
Speaker 1: take a look at our top story this morning. Ukrainian
Speaker 1: President Voladimir Zelenski, his in person, ply for more support
Speaker 1: and more weapons in an address to a joint meeting
Speaker 1: of Congress. Your money is not cheery, team, it's an
Speaker 1: investment in the global security and democracy that we handled
Speaker 1: in the most responsible way. Let's get more Now. We're
Speaker 1: joined live this morning by Michael Winfrey, Bloomberg's economics and
Speaker 1: politics editor for Central and Eastern Europe. Mike, it's great
Speaker 1: to speak with you this morning. The message we heard
Speaker 1: from Zelensky last night on Capitol Hill, Ukraine is alive
Speaker 1: and kicking. What is the sense from where you said
Speaker 1: about how that message was received by lawmakers in the
Speaker 1: U S. Well, Uh, it seems to be very successful. Um.
Speaker 1: Zelenski got what he wanted at least for now, which
Speaker 1: was a new pledge of eight by the Biden illustration,
Speaker 1: and he also got to look Republicans in the eye
Speaker 1: and give them this emotional appeal before they take over
Speaker 1: the House in January because there had been concerned that
Speaker 1: he might not be able to have as much support
Speaker 1: um as he did under the Democratic House when the
Speaker 1: leadership changes. But it's not going to just be a
Speaker 1: weapons support. The Ukraine is gonna need. We're heading into
Speaker 1: a very cold winter in Ukraine and in much of
Speaker 1: central and Eastern Europe, and there's gonna be a much
Speaker 1: greater need for humanitarian and infrastructure support as well, particularly
Speaker 1: after the onslaught of attacks that Russia has made on
Speaker 1: Ukraine's power and water infrastructure over the last several weeks. Yeah,
Speaker 1: that's right. There are millions of Ukrainians that are without power,
Speaker 1: water and heat, most importantly as the temperatures drop below zero.
Speaker 1: And there has been a lot of support from the
Speaker 1: US and Ukraine's allies in terms of supplying generators. But
Speaker 1: one of the main concerns right now is that Vladimir
Speaker 1: Putin's military in Russia is rearming. You know, he has
Speaker 1: constrict conscripted three thousand more troops and yesterday his Defense
Speaker 1: minister said that the army would expand even further in
Speaker 1: terms of manpower. So there are worries that Russia maybe
Speaker 1: planning a new offensive um potentially from Belarus UH in
Speaker 1: the new year. There's a hope from Zelenski making this
Speaker 1: trip to the United States to have this scene as
Speaker 1: something of a pivot point for the war in Ukraine. Well,
Speaker 1: I mean, that's really hard to say. One of the
Speaker 1: big issues now that everyone is discussing is which side
Speaker 1: is going to be able to arm itself faster. As
Speaker 1: you probably know, they've been going through tens of thousands
Speaker 1: of artillery shells per month on each side and that's
Speaker 1: been a major part of this war. So Russia UH,
Speaker 1: which has been limited by U S sanctions, is really
Speaker 1: struggling to continue to keep up the pace of its
Speaker 1: military production. And Zelenski and going to the US is
Speaker 1: just underscoring how important it is for Ukraine's allies to
Speaker 1: continue supplying Kiev with UH EID. So, so the real
Speaker 1: question is is it going to be enough? And as
Speaker 1: Zalinsky said in his speech yesterday, when he thinks of
Speaker 1: the US and other allies, he said, it's great, but
Speaker 1: is it enough? Not really, And it's gonna be interesting
Speaker 1: as well to see whether the US continues to take
Speaker 1: the lead with this support. Because as a president, Biden
Speaker 1: alluded to the idea that even more advanced weapons systems
Speaker 1: going to Ukraine could lead to something of a fracturing
Speaker 1: with the alliance. Where where what is the state of
Speaker 1: the alliance? From where you said, and we've got about
Speaker 1: thirty seconds left here, Well, we've we've seen some reluctance
Speaker 1: to supply the more advanced weapons, like the US has
Speaker 1: just pledged a Patriot battery. But it seems that also
Speaker 1: these these red lines that Russia keeps putting down and
Speaker 1: saying is is going to be an escalation for example
Speaker 1: with the him ours earlier in the summer um, Ukraine's
Speaker 1: allies continue to sort of push against these and call
Speaker 1: the bluff. So I believe that the Ukrainians will continue
Speaker 1: to to get better support from their allies as the
Speaker 1: war progresses. Thanks Mike great to get new perspective on
Speaker 1: this this morning after Zelenski's trip to Washington, d C.
Speaker 1: That's Michael Winfrey, Economics and Politics editor for Central and
Speaker 1: Eastern Europe for Bloomberg News. Looking ahead to the market,
Speaker 1: open futures are little changed, but in the red got
Speaker 1: SMP futures right now down to point down, futures down
Speaker 1: sixteen and Nasdaq futures are lower by five points. The
Speaker 1: tenure treasuries now up five thirty seconds, yield on the
Speaker 1: benchmark three point six four per cent. You're listening to
Speaker 1: Bloomberg Daybreak, Markets headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business at
Speaker 1: and at Bloomberg Quick Tape. She's a Bloomberg Business Flash
Speaker 1: and I'm Karen Moscow Futurse this morning, our little change
Speaker 1: and we check the markets all day long year on Bloomberg.
Speaker 1: The decks in Germany is down about a tenth of
Speaker 1: a percent. Ten year treasury up six thirty seconds, you know,
Speaker 1: three point six three percent, and the yield on a
Speaker 1: two year four point one nine percent. Ninemex scrude oil
Speaker 1: is up one point nine percent, up a dollar fifty
Speaker 1: three at seventy nine dollars eighty two cents a barrel.
Speaker 1: Comex called out a tenth of a percent on a
Speaker 1: dollar seventy at eighteen twenty three seventy announced the euro
Speaker 1: one point oh six three one against the dollar, British
Speaker 1: found one point zero eight one the end one thirty
Speaker 1: two point oh seven, and Bitcoin is up to ten
Speaker 1: percent at sixteen thousand, eight hundred dollars, and that's a
Speaker 1: Bloomberg Business flash. Nathan. All right, Karen, thank you for
Speaker 1: coming up to five fifty six on Wall Street Time
Speaker 1: Now for our daily blue Burg Law Brief, exploring legal
Speaker 1: issues in the news. Today, we're looking at the Supreme Court,
Speaker 1: which is off to a historically slow start this term. Actually,
Speaker 1: the Justice is typically issue at least one opinion in
Speaker 1: late November or early December, but so far they haven't
Speaker 1: released any decisions this term. According to Empirical Scoutis creator
Speaker 1: Adam Feldman, it's the first time since nineteen seventeen we
Speaker 1: haven't seen a decision from the High Court yet. For
Speaker 1: more on this slow start, Bloomberg's June Grosso speaks with
Speaker 1: Bloomberg Law Supreme Court reporter Kimberly Strawberry Robinson. Are they
Speaker 1: just kicking back and taking it easy or are there
Speaker 1: other reasons that people have suggested? Well, I think it's
Speaker 1: exactly the opposite of that. So there are a couple
Speaker 1: of things that are really going on here, and I'll
Speaker 1: say the first of which is something that could explain
Speaker 1: why this is something we can expect to see in
Speaker 1: the future as well, is just that there's been a
Speaker 1: change in the membership of the Court, and so importantly,
Speaker 1: Justice through Vader Ginsburg used to really pride herself on
Speaker 1: getting not just the first opinion out of the term,
Speaker 1: but really turning around opinions very quickly. And you know,
Speaker 1: people speculate that that's in part because she came onto
Speaker 1: the court at a time when they were hearing many
Speaker 1: more cases, and so there was just this pressure to
Speaker 1: turn around those opinions quickly so that there was enough
Speaker 1: time at the end of the term to get out
Speaker 1: all of their opinions. The current court, it seems like
Speaker 1: most of the justices have been on the court when
Speaker 1: they're accepting far fewer cases. Now, it's we're lucky if
Speaker 1: we tend to get to sixty five of these days.
Speaker 1: And so there's just not that pressure sort of built
Speaker 1: into their d n A. And so I think this
Speaker 1: is something we're probably going to be seeing more of
Speaker 1: in the future. The last term was the most contentious
Speaker 1: I can remember in a long time, and this term
Speaker 1: looks like it's going to be fairly contentious as well,
Speaker 1: maybe even more contentious. How did that play into getting
Speaker 1: opinions out? That's right, So that's Actually, the second reason
Speaker 1: why I think that this term in particular, we're seeing
Speaker 1: a slow star for the justices is that, you know,
Speaker 1: often the first opinion in an argued case comes in
Speaker 1: one of these cases that are argued in October, maybe
Speaker 1: early November. But this year the justices have really frontloaded
Speaker 1: those contentious cases that you're referring to. So if you
Speaker 1: look at October, you know, we kicked it off with
Speaker 1: a major challenge to the e p A's abilities to
Speaker 1: regulate wetlands. It was followed by, you know, a voting
Speaker 1: case that could change the way that the Supreme Court
Speaker 1: and all thorough courts look at certain claims brought under
Speaker 1: the Voting Rights Act, and you know, even a really
Speaker 1: foundational trademark case that was heard at the end of October.
Speaker 1: And then if you moved into the beginning of November,
Speaker 1: it's hard to believe that it was that long ago,
Speaker 1: but that's when the Support heard those cases over the
Speaker 1: affirmative action and higher education. So you know, those cases
Speaker 1: just don't lend themselves to a quick turnaround. Not only
Speaker 1: are they really hard issues for the Justice to sort out,
Speaker 1: but it's likely that those are going to be divided
Speaker 1: cases where you're gonna have dissenting it opinions that sort
Speaker 1: of go back and forth with the majority opinions before
Speaker 1: they're ready to let's be public kind of see how
Speaker 1: those disagreements all shook out. And that's Bloomberg Law Supreme
Speaker 1: Court reporter Kimberly Strawbridge Robinson speaking with Bloomberg Stune Grosso,
Speaker 1: and you can catch more of that interview, plus analysis
Speaker 1: of the latest legal news by subscribing to the Bloomberg
Speaker 1: Law Podcast. You can download the show at Bloomberg dot com,
Speaker 1: Slash podcasts, and attorneys can find exceptional legal research and
Speaker 1: business development tools at Bloomberg Law dot com and on
Speaker 1: the Bloomberg terminal at b Longo. Right now, futures are
Speaker 1: moving just a touch lower. SMP futures are down three point,
Speaker 1: staff futures down thirty seven, NASTAIC futures lower by seven points.
Speaker 1: Attend your treasury is up six thirty seconds. You'ld three
Speaker 1: point six three percent. Our two of Bloomberg Day Breaks
Speaker 1: starts right now.