1 00:00:02,600 --> 00:00:05,840 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:05,880 --> 00:00:10,520 Speaker 1: day Break for Friday, February. Coming up, the shower stocks 3 00:00:10,560 --> 00:00:13,200 Speaker 1: get a lift on news of plant talks between the 4 00:00:13,280 --> 00:00:15,920 Speaker 1: US and Russia. Facebook drops out of the top ten 5 00:00:15,960 --> 00:00:18,960 Speaker 1: most valuable companies. Jim Bullard says the Fed may need 6 00:00:18,960 --> 00:00:21,640 Speaker 1: to raise rates above two percent, and the White House 7 00:00:21,680 --> 00:00:23,960 Speaker 1: warns it may be running out of money to fight COVID. 8 00:00:24,160 --> 00:00:26,920 Speaker 1: Former President Trump ordered to testify in the New York 9 00:00:26,920 --> 00:00:30,240 Speaker 1: Attorney General's probe of his business practices, and former Governor 10 00:00:30,320 --> 00:00:33,480 Speaker 1: Cuomo sued for alleged sex harassment. I'm John Tucker. Those 11 00:00:33,520 --> 00:00:36,919 Speaker 1: stories straight ahead, I'm John Stashower and sports. Another shootout 12 00:00:36,960 --> 00:00:39,360 Speaker 1: at the Garden this time the Rangers lost in Detroit, 13 00:00:39,440 --> 00:00:42,240 Speaker 1: the Islanders beat the Ruins, the Nets lost to Washington. 14 00:00:44,080 --> 00:00:47,920 Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg 15 00:00:47,960 --> 00:00:52,880 Speaker 1: Element Trio, New York, Bloomberg one, Washington, d C, Bloomberg 16 00:00:52,880 --> 00:00:56,640 Speaker 1: one on six one, Boston, Bloomberg nine sixties, San Francisco, 17 00:00:57,000 --> 00:01:00,200 Speaker 1: Sirius x M one nineteen and around the world Old 18 00:01:00,240 --> 00:01:03,960 Speaker 1: on Bloomberg Radio dot Com and via The Bloomberg Business. 19 00:01:07,440 --> 00:01:10,560 Speaker 1: Good Morning, I'm Nathan Hagar and I'm kmeron Moscow. US 20 00:01:10,640 --> 00:01:12,960 Speaker 1: future is higher to end the week. We're coming up 21 00:01:12,959 --> 00:01:14,520 Speaker 1: to six oh one on Moll Street, and we check 22 00:01:14,560 --> 00:01:17,080 Speaker 1: the markets every fifteen minutes throughout the trading day. On 23 00:01:17,120 --> 00:01:20,280 Speaker 1: Bloomberg S and P futures up twenty one points down, 24 00:01:20,319 --> 00:01:23,920 Speaker 1: futures up one d ten, NAS Deck futures up ninety seven. 25 00:01:24,160 --> 00:01:26,320 Speaker 1: The decks in Germany is down a tenth of a 26 00:01:26,440 --> 00:01:29,080 Speaker 1: percent ten. Your treasury down one thirty second. He had 27 00:01:29,120 --> 00:01:31,679 Speaker 1: one point nine six percent yield on the two year, 28 00:01:31,760 --> 00:01:35,080 Speaker 1: one point eight percent. Nimex screwed oil is down two 29 00:01:35,080 --> 00:01:37,440 Speaker 1: point six percent, down two dollars forty two cents at 30 00:01:37,440 --> 00:01:40,440 Speaker 1: eighty nine dollars, thirty four cents of barrel. Comex gold 31 00:01:40,560 --> 00:01:43,279 Speaker 1: is down six tents percent or eleven dollars ten cents 32 00:01:43,480 --> 00:01:47,520 Speaker 1: at eight ounce. The euro one point one three zero 33 00:01:47,600 --> 00:01:50,520 Speaker 1: against the dollar. Nathan, Well, Karen, we are seeing futures 34 00:01:50,520 --> 00:01:53,680 Speaker 1: get a lift after yesterday's sell off. There's optimism on 35 00:01:53,720 --> 00:01:56,240 Speaker 1: where the US is extending a hand to Russia with 36 00:01:56,320 --> 00:01:59,840 Speaker 1: a high stakes meeting. Bloomberg said. Baxter has the story, 37 00:02:00,280 --> 00:02:02,120 Speaker 1: so it looks as if there will be a meeting 38 00:02:02,200 --> 00:02:05,320 Speaker 1: late next week as the US accepts the date as well, 39 00:02:05,800 --> 00:02:08,080 Speaker 1: But the fact remains that are over one hundred fifty 40 00:02:08,080 --> 00:02:11,520 Speaker 1: thousand Russian troops at the border, and Blincoln says the 41 00:02:11,600 --> 00:02:14,840 Speaker 1: real issue the States go far beyond you, cra This 42 00:02:14,960 --> 00:02:17,320 Speaker 1: is a moment of peril for the lives and safety 43 00:02:17,360 --> 00:02:20,360 Speaker 1: of millions of people, as well as for the foundation 44 00:02:20,400 --> 00:02:24,280 Speaker 1: of the United Nations Charter and the rules based international order. 45 00:02:24,480 --> 00:02:28,160 Speaker 1: And President Biden says he will call Transatlantic leaders later 46 00:02:28,240 --> 00:02:32,080 Speaker 1: today in San Francisco. I'm at Baxter Bloomberg Daybreak and 47 00:02:32,240 --> 00:02:34,840 Speaker 1: thank you Geo political tensions help you la sell off 48 00:02:34,880 --> 00:02:37,840 Speaker 1: on Wall Street yesterday about eighty five company's in the 49 00:02:37,960 --> 00:02:40,320 Speaker 1: s and P five hundred fell well. The tech heavy 50 00:02:40,400 --> 00:02:43,840 Speaker 1: NASDAC tumbled three percent. It's a difficult time for investors. 51 00:02:43,880 --> 00:02:46,960 Speaker 1: According to Eaton Vance, portfolio manager at Yaina Barton, there 52 00:02:47,000 --> 00:02:50,280 Speaker 1: are lots of questions with very hugeful proof answers, a 53 00:02:50,320 --> 00:02:53,640 Speaker 1: lot of uncertainty, which obviously investors don't like. But you 54 00:02:53,800 --> 00:02:57,960 Speaker 1: name it, uh and visibility is marking with it. It's policy, geopolitics, 55 00:02:58,000 --> 00:03:02,080 Speaker 1: growth inflation to worry about. But Jana Barton at Eton 56 00:03:02,160 --> 00:03:05,440 Speaker 1: Vance says she still remains bullish on equities. Well. Perhaps 57 00:03:05,440 --> 00:03:07,400 Speaker 1: some of the hardest hit stocks the past few months 58 00:03:07,440 --> 00:03:10,520 Speaker 1: here and has been Meta Platforms, the parent of Facebook, 59 00:03:10,520 --> 00:03:13,200 Speaker 1: has now tumbled out of the world's ten largest companies 60 00:03:13,200 --> 00:03:16,680 Speaker 1: by market value. It's been hammered by its worst monthly 61 00:03:16,720 --> 00:03:20,840 Speaker 1: decline ever. We get more from Bloomberg's Charlie Pellet. Once 62 00:03:20,919 --> 00:03:24,320 Speaker 1: the world's sixth largest company with a valuation and excess 63 00:03:24,360 --> 00:03:27,640 Speaker 1: of one trillion dollars, the Facebook parent closed the last 64 00:03:27,639 --> 00:03:31,840 Speaker 1: session with a value of five hundred sixty five billion dollars, 65 00:03:31,840 --> 00:03:36,080 Speaker 1: placing it in eleventh place behind ten Cent Holdings. According 66 00:03:36,080 --> 00:03:40,000 Speaker 1: to data compile by Bloomberg, Metal Platforms, which changed its 67 00:03:40,080 --> 00:03:43,160 Speaker 1: name from Facebook last year, has seen more than five 68 00:03:43,240 --> 00:03:47,640 Speaker 1: hundred billion dollars in market value destroyed from a September 69 00:03:47,680 --> 00:03:52,240 Speaker 1: peak in New York. Charlie Pellet Bloomberg daybreak. All right, Charlie, 70 00:03:52,240 --> 00:03:53,560 Speaker 1: thank you, and let's get you up to date on 71 00:03:53,600 --> 00:03:56,160 Speaker 1: some other stocks moving this morning. On Earning shares a 72 00:03:56,240 --> 00:03:59,920 Speaker 1: Roku or down twenty in early trading. The streaming video 73 00:04:00,120 --> 00:04:03,080 Speaker 1: form reported revenue and a sales outlook that fails short 74 00:04:03,080 --> 00:04:06,520 Speaker 1: of estimates. Red Fin shares are down more than also, 75 00:04:06,880 --> 00:04:09,840 Speaker 1: the real estate technology company forecast a first quarter loss 76 00:04:09,880 --> 00:04:12,840 Speaker 1: that was worse than analysts we're looking for, and shares 77 00:04:12,920 --> 00:04:15,920 Speaker 1: of shak a Shack are down twelve percent. The Hamburger 78 00:04:16,000 --> 00:04:19,839 Speaker 1: Chains first quarter revenue miss forecast. So the volatility and 79 00:04:19,880 --> 00:04:22,560 Speaker 1: the market like this, where's the best place to put 80 00:04:22,600 --> 00:04:26,560 Speaker 1: your money? Some say overseas? Let's get the details live 81 00:04:27,080 --> 00:04:30,400 Speaker 1: from overseas, Bloombergs Max Ramsey's with us in our London bureau. 82 00:04:30,400 --> 00:04:33,719 Speaker 1: Good morning, Max, morning, Nathan and Karen. Yes, we're seeing 83 00:04:33,720 --> 00:04:36,919 Speaker 1: optimistic views from strategists on Europe, and of course this 84 00:04:37,000 --> 00:04:41,120 Speaker 1: positioning is particularly interesting because we've seen such volatility across 85 00:04:41,240 --> 00:04:44,320 Speaker 1: European assets this month. We've had this hawk Is pivot 86 00:04:44,320 --> 00:04:47,000 Speaker 1: from the ECB, the repricing in the bond markets, and 87 00:04:47,080 --> 00:04:50,720 Speaker 1: of course the ongoing tensions over Ukraine. But in Bloomberg's 88 00:04:50,720 --> 00:04:53,960 Speaker 1: February poll of seventeen strategists from both by and south Side, 89 00:04:54,240 --> 00:04:57,120 Speaker 1: only two lower day year end targets for the stock 90 00:04:57,200 --> 00:05:00,320 Speaker 1: six D. Right now we trade around full six five 91 00:05:00,360 --> 00:05:03,320 Speaker 1: points on the stock six D. The average price target 92 00:05:03,320 --> 00:05:05,640 Speaker 1: is five A seven. Say they do see around an 93 00:05:05,640 --> 00:05:09,240 Speaker 1: eight percent, just eight percent upside Live in London, Max Ramsey, 94 00:05:09,240 --> 00:05:11,880 Speaker 1: bree back daybreak Max, thank you. The prospect of higher 95 00:05:11,880 --> 00:05:14,320 Speaker 1: interest rates has also been a major contributor to the 96 00:05:14,360 --> 00:05:16,920 Speaker 1: recent markets sell off, and St. Louis FED President Jim 97 00:05:16,960 --> 00:05:19,640 Speaker 1: Bullard said the Federal Reserve may need to raise rates 98 00:05:19,720 --> 00:05:23,440 Speaker 1: above two percent decurb prices. If you wanted to put 99 00:05:23,520 --> 00:05:27,040 Speaker 1: downward pressure inflation, you'd actually have to get to neutral 100 00:05:27,040 --> 00:05:29,919 Speaker 1: and go beyond neutral, And I think that's a major 101 00:05:30,040 --> 00:05:33,159 Speaker 1: concern of mine. We're not really in a position to 102 00:05:33,240 --> 00:05:35,400 Speaker 1: do that right now, but we have to get in 103 00:05:35,440 --> 00:05:38,600 Speaker 1: a position to do that at some point in case 104 00:05:38,640 --> 00:05:42,040 Speaker 1: inflation doesn't moderate, Say Louis FED President Jim Bullard made 105 00:05:42,040 --> 00:05:45,000 Speaker 1: the comments in an event hosted by Columbia University and 106 00:05:45,320 --> 00:05:49,200 Speaker 1: s J S G H Macro Advisors. Cleveland FED President 107 00:05:49,279 --> 00:05:52,600 Speaker 1: Lauretta Master also supports tightening policy at a faster pace 108 00:05:52,640 --> 00:05:55,280 Speaker 1: to find inflation. She says she supports a rate hike 109 00:05:55,400 --> 00:05:58,440 Speaker 1: next month and expects inflation to remain above two percent 110 00:05:58,600 --> 00:06:01,200 Speaker 1: both this year and next well. Coming up on the 111 00:06:01,200 --> 00:06:04,560 Speaker 1: economic front, Nathan we get data on the housing market today. 112 00:06:04,600 --> 00:06:08,279 Speaker 1: Economists predict existing home sales probably dropped in January for 113 00:06:08,320 --> 00:06:10,760 Speaker 1: the second month in a row. Bloomberg's Viney deal Judai 114 00:06:10,839 --> 00:06:14,400 Speaker 1: says more the prior reports at existing home sales dropped 115 00:06:14,440 --> 00:06:17,560 Speaker 1: in December for the first time since August. The outlook 116 00:06:17,600 --> 00:06:21,480 Speaker 1: could be described as tenuous. Inventories remain below and mortgage 117 00:06:21,560 --> 00:06:25,719 Speaker 1: rates are creeping higher back to pre pandemic levels. Prices 118 00:06:26,040 --> 00:06:29,920 Speaker 1: very high prices are also having an impact. I mean January, 119 00:06:29,960 --> 00:06:33,359 Speaker 1: the COVID nineteen armorcrant variant cast the pale on Daily 120 00:06:33,440 --> 00:06:39,240 Speaker 1: Life que Judas Bloomberg day Break, Whitehouse is worn in 121 00:06:39,320 --> 00:06:42,279 Speaker 1: COVID cash is drying up. It's telling Congress the US 122 00:06:42,360 --> 00:06:44,359 Speaker 1: doesn't have enough money on hand to deal with future 123 00:06:44,400 --> 00:06:48,160 Speaker 1: coronavirus variants and needs more funds to stockpile vaccines and 124 00:06:48,200 --> 00:06:51,320 Speaker 1: develop new strategies. The Department of Health and Human Services 125 00:06:51,400 --> 00:06:54,200 Speaker 1: is asking for thirty billion dollars to prepare for the 126 00:06:54,320 --> 00:06:57,400 Speaker 1: next waves of the virus. Meantime, Nathan, the i r 127 00:06:57,560 --> 00:07:00,120 Speaker 1: S is adding a second so called search team who 128 00:07:00,120 --> 00:07:03,159 Speaker 1: expand its capacity to process US tax returns. That comes 129 00:07:03,160 --> 00:07:06,280 Speaker 1: after criticism from members of Congress who say taxpayers are 130 00:07:06,320 --> 00:07:08,440 Speaker 1: waiting for months to get their refunds. The i r 131 00:07:08,600 --> 00:07:11,520 Speaker 1: S will also outsource some functions to help finalize returns 132 00:07:11,560 --> 00:07:15,679 Speaker 1: more quickly and straight ahead, your latest local headlines, plus 133 00:07:15,760 --> 00:07:23,800 Speaker 1: the check of sports. This is Bloomberg. It sounds six, 134 00:07:23,880 --> 00:07:26,040 Speaker 1: so seven on Wall Street. Let's bring in John Tucker 135 00:07:26,120 --> 00:07:27,680 Speaker 1: for a look at what's going on in New York 136 00:07:27,760 --> 00:07:31,320 Speaker 1: and around the world. John Nathan, Good morning. Former President 137 00:07:31,400 --> 00:07:34,440 Speaker 1: Donald Trump has been ordered to testify in the investigation 138 00:07:34,520 --> 00:07:37,480 Speaker 1: being conducted by the New York Attorney General. The story 139 00:07:37,560 --> 00:07:40,800 Speaker 1: this morning from Bloomberg's Jeff Bellinger. A New York charge 140 00:07:40,840 --> 00:07:44,360 Speaker 1: rejected a request by Trump, Donald Trump Junior, and Ivanka 141 00:07:44,440 --> 00:07:47,920 Speaker 1: Trump that he blocked Attorney General Letitia James subpoenas for 142 00:07:48,040 --> 00:07:51,920 Speaker 1: their depositions. He ordered the three to appear for depositions 143 00:07:52,000 --> 00:07:55,360 Speaker 1: within twenty one days, and a contentious hearing, Lawyers for 144 00:07:55,400 --> 00:07:58,800 Speaker 1: the Trump's accused James of improperly trying to gather criminal 145 00:07:58,920 --> 00:08:02,480 Speaker 1: evidence under the guys of conducting a civil investigation that 146 00:08:02,560 --> 00:08:05,960 Speaker 1: would typically culminate in a lawsuit rather than an indictment, 147 00:08:06,320 --> 00:08:09,360 Speaker 1: but the judge said their argument completely misses the mark. 148 00:08:09,760 --> 00:08:12,200 Speaker 1: Trump said in a statement, I can't get a fair 149 00:08:12,240 --> 00:08:14,360 Speaker 1: hearing in New York because of the hatred of me 150 00:08:14,640 --> 00:08:18,720 Speaker 1: by judges and the judiciary. Jeff Mullinger Cloomberg name break. 151 00:08:18,840 --> 00:08:22,400 Speaker 1: Former Governor Cuomo was sued over sensual harassment by a 152 00:08:22,440 --> 00:08:25,920 Speaker 1: state trooper who was part of his protective detail. Cuomo 153 00:08:26,040 --> 00:08:28,720 Speaker 1: was forced to resign last year after the state Attorney 154 00:08:28,800 --> 00:08:33,160 Speaker 1: general issued a lengthy report alleging several instances of harassment 155 00:08:33,240 --> 00:08:36,400 Speaker 1: of state workers by Cuomo. New York governor County Hogo 156 00:08:36,480 --> 00:08:39,920 Speaker 1: accepting the state Democratic Party's nomination as their candidate in 157 00:08:40,000 --> 00:08:44,040 Speaker 1: the governor's race. The decision marked a rapid rise for 158 00:08:44,120 --> 00:08:46,840 Speaker 1: the sixty three old Buffalo native, who was a relative 159 00:08:47,000 --> 00:08:50,320 Speaker 1: unknown when she took office in August, following former Governor 160 00:08:50,400 --> 00:08:55,080 Speaker 1: Andrew Cuomo's resignation over sex harassment allegations. New York City 161 00:08:55,120 --> 00:08:57,920 Speaker 1: firefighters dying from what's being described as a sudden medical 162 00:08:58,080 --> 00:09:01,320 Speaker 1: episode at his firehouse a day after battling a house 163 00:09:01,400 --> 00:09:05,480 Speaker 1: fire in Queens. Mayor Eric Adams the entire city mourns 164 00:09:05,559 --> 00:09:09,560 Speaker 1: for the loss of this firefighter, young man that dreamed 165 00:09:09,640 --> 00:09:12,839 Speaker 1: to be a firefighter all his life. Thirty three old 166 00:09:12,920 --> 00:09:16,000 Speaker 1: Jesse Gerhardt worked at Latter Company one thirty four in 167 00:09:16,160 --> 00:09:19,880 Speaker 1: far Rockaway House. Republican leader Kevin McCarthy has taken the 168 00:09:20,120 --> 00:09:24,840 Speaker 1: unusual step of endorsing the primary opponent of incumbent Republican 169 00:09:24,920 --> 00:09:28,319 Speaker 1: representative Liz Cheney. It's in dedication of the death of 170 00:09:28,400 --> 00:09:31,320 Speaker 1: the splitting in the party over former President Donald Trump. 171 00:09:31,800 --> 00:09:35,640 Speaker 1: McCarthy joined Trump and backing attorney Harriet Hagman in Wyoming's 172 00:09:35,640 --> 00:09:40,120 Speaker 1: August Republican primary against Cheney. Cheney has criticized Trump over 173 00:09:40,240 --> 00:09:42,680 Speaker 1: his role in stoking the mob that stormed the US 174 00:09:42,760 --> 00:09:46,000 Speaker 1: capital last year. Global News twenty four hours a day 175 00:09:46,040 --> 00:09:48,720 Speaker 1: on air. Anna blueber quicktike, We're powered by more than 176 00:09:48,800 --> 00:09:51,520 Speaker 1: twenty seven hundred journalists and analysts in more than one 177 00:09:51,600 --> 00:09:59,040 Speaker 1: hundred twenty countries. I'm John Tucker. This is Bloomberg and 178 00:09:59,200 --> 00:10:01,319 Speaker 1: that brings us to six o nine on Wall Street, 179 00:10:01,400 --> 00:10:03,960 Speaker 1: this time for the Bloomberg Sports Update. Good Morning John 180 00:10:04,000 --> 00:10:06,679 Speaker 1: Stown Show Right in Morning John Nowther shootout at the Garden, 181 00:10:06,760 --> 00:10:09,360 Speaker 1: like the one on Tuesday, not decided with the normal 182 00:10:09,480 --> 00:10:12,040 Speaker 1: three rounds, pick nine rounds for the Rangers to beat Boston. 183 00:10:12,160 --> 00:10:15,160 Speaker 1: The one with Detroit decided in round number six. Pet 184 00:10:15,360 --> 00:10:17,679 Speaker 1: brings it up across the line. On Christ moves in. 185 00:10:18,120 --> 00:10:23,160 Speaker 1: He shoots end up Pets save by Thomas Chris, and 186 00:10:23,320 --> 00:10:27,160 Speaker 1: the rud Wings win this one in a shootout. Chris 187 00:10:27,280 --> 00:10:30,720 Speaker 1: with the big save on Heatle and the final score. 188 00:10:30,800 --> 00:10:33,520 Speaker 1: Tonight in New York the Red Weeks three and the 189 00:10:33,640 --> 00:10:36,440 Speaker 1: New York Rangers too. That's Red Rings Radio with the call. 190 00:10:36,559 --> 00:10:38,880 Speaker 1: Rangers got goals in Yandre Miller and make his advantage 191 00:10:38,920 --> 00:10:41,199 Speaker 1: at who also scored in the shootout, but he's the 192 00:10:41,280 --> 00:10:43,360 Speaker 1: only one who did. Islanders are the three goal third 193 00:10:43,400 --> 00:10:45,720 Speaker 1: period in the three game losing. They beat the Bruins 194 00:10:45,800 --> 00:10:48,640 Speaker 1: ford to one at Barkley's no fourth quarter heroics this 195 00:10:48,720 --> 00:10:51,240 Speaker 1: time for the Nets like they had Wednesday against the 196 00:10:51,320 --> 00:10:54,600 Speaker 1: next Washington beat Brooklyn one seventeen to one oh three. 197 00:10:54,679 --> 00:10:57,640 Speaker 1: The NBA Navigans All Star weekend in Cleveland, and the 198 00:10:57,720 --> 00:11:00,400 Speaker 1: highlight figures to be the introduction Sunday Night of the 199 00:11:00,760 --> 00:11:04,440 Speaker 1: top seventy five players in this the NBA seventy five season. 200 00:11:04,480 --> 00:11:07,040 Speaker 1: The Knicks, represented by the likes of Patrick Ewe and 201 00:11:07,040 --> 00:11:09,960 Speaker 1: Willis Reid, Walt Frazier, Earl Monroe, and the late David 202 00:11:10,000 --> 00:11:13,120 Speaker 1: Devocher College Who's Wagner keeps winning. Now eighteen and three 203 00:11:13,200 --> 00:11:15,760 Speaker 1: after a win over Sacred Hard, Rutgers has won four 204 00:11:15,840 --> 00:11:19,079 Speaker 1: straight all against top twenty five teams and looking to 205 00:11:19,160 --> 00:11:22,400 Speaker 1: make it five Sunday at fifth rank Per new Scarlet 206 00:11:22,559 --> 00:11:24,880 Speaker 1: Knights may not have top scorer Ron Harper Jr. Is 207 00:11:24,920 --> 00:11:28,200 Speaker 1: at a hand injury. Baseball was to start exhibition games 208 00:11:28,280 --> 00:11:30,800 Speaker 1: next weekend. Obviously that's not gonna happen. With the lockout 209 00:11:30,880 --> 00:11:33,880 Speaker 1: now seventy eight days long. MLB says they need an 210 00:11:33,920 --> 00:11:36,360 Speaker 1: agreement by the end of February if they are able 211 00:11:36,400 --> 00:11:39,360 Speaker 1: to start the season on top. John Dash Howard, Bloomberg 212 00:11:39,400 --> 00:11:42,560 Speaker 1: Sports Jump. All right, thanks John, After yesterday's painful sell 213 00:11:42,559 --> 00:11:46,040 Speaker 1: all futures this morning indicate a higher open on Wall Street. 214 00:11:46,559 --> 00:11:50,000 Speaker 1: Now futures up one hundred and twenty three points, right now, 215 00:11:50,480 --> 00:11:54,080 Speaker 1: SMP futures they're up twenty two and the NASA Emini 216 00:11:54,200 --> 00:12:00,160 Speaker 1: futures they are upright now one hundred three points. You're 217 00:12:00,240 --> 00:12:07,319 Speaker 1: listening to Bloomberg Daybreak and day Break being drawn to 218 00:12:07,360 --> 00:12:09,599 Speaker 1: you by Audie. Don't let someone else drive off in 219 00:12:09,679 --> 00:12:12,400 Speaker 1: the Audi model you've always wanted. Visit a try and 220 00:12:12,440 --> 00:12:22,320 Speaker 1: State autie dealer today to get behind the wheel of yours. Markets, 221 00:12:22,440 --> 00:12:25,520 Speaker 1: headlines and breaking news twenty four hours a day at 222 00:12:25,559 --> 00:12:29,520 Speaker 1: Bloomberg dot Com, the Bloomberg Business Outland, at Bloomberg Quick Tape. 223 00:12:29,760 --> 00:12:38,720 Speaker 1: This is a Bloomberg Business lash and I'm parent. Moscow 224 00:12:38,840 --> 00:12:41,400 Speaker 1: stocks are rising as planned talks between Russia and the 225 00:12:41,520 --> 00:12:45,280 Speaker 1: US over Ukraine alleviate some investor gloom about geopolitical risks. 226 00:12:45,360 --> 00:12:47,640 Speaker 1: We checked the markets every fifteen minutes throughout the trading 227 00:12:47,760 --> 00:12:50,240 Speaker 1: day on Bloomberg. Right now, S and P futures are 228 00:12:50,280 --> 00:12:52,560 Speaker 1: up twenty three points down. Futures have a hundred thirty 229 00:12:52,600 --> 00:12:55,800 Speaker 1: five Nowaday futures have one dred five that docks in 230 00:12:55,880 --> 00:12:59,400 Speaker 1: Germany is litill change ten. Your treasury down three thirties seconds. 231 00:12:59,440 --> 00:13:01,520 Speaker 1: You have one boy nine seven percent, they yelled on 232 00:13:01,600 --> 00:13:04,280 Speaker 1: the two year one point four eight percent. Ninemex s 233 00:13:04,320 --> 00:13:06,200 Speaker 1: crude oil is down two and a half percent, down 234 00:13:06,240 --> 00:13:08,680 Speaker 1: two dollars twenty nine cents at eighty nine dollars. Forty 235 00:13:08,760 --> 00:13:11,839 Speaker 1: seven cents of aarrold comes Gold is down seven ten 236 00:13:11,960 --> 00:13:15,439 Speaker 1: percent or thirteen dollars at eighteen eighty nine. Announced the 237 00:13:15,520 --> 00:13:18,320 Speaker 1: euro one point one three five seven against the dollar. 238 00:13:18,400 --> 00:13:20,760 Speaker 1: British found one point three six one five. The ends 239 00:13:20,800 --> 00:13:24,040 Speaker 1: at one fifteen point to chew Bitcoin this morning, moving 240 00:13:24,120 --> 00:13:27,559 Speaker 1: lower at forty thousand, four hundred dollars. We are watching 241 00:13:27,679 --> 00:13:31,000 Speaker 1: earnings this morning. We heard from Deer, the largest maker 242 00:13:31,040 --> 00:13:35,760 Speaker 1: of agricultural machinery raising its fiscal year outlook as booming 243 00:13:35,840 --> 00:13:40,199 Speaker 1: crop earnings continue to boost farmers appetites for new tractors. 244 00:13:40,520 --> 00:13:42,959 Speaker 1: And we're also watching for reports on existing home sales 245 00:13:43,000 --> 00:13:46,000 Speaker 1: at a ten O'clockwell Street time, along with leading indicators. 246 00:13:46,280 --> 00:13:48,760 Speaker 1: That's a Bloomberg business flash. Now here's John Tucker with 247 00:13:48,880 --> 00:13:51,160 Speaker 1: more on what's going on around the world. Jump Good 248 00:13:51,240 --> 00:13:54,000 Speaker 1: Morning Care and President Biden warning the probability of an 249 00:13:54,040 --> 00:13:57,080 Speaker 1: invasion of Ukraine is still very high. The runching Foreign 250 00:13:57,120 --> 00:14:00,679 Speaker 1: Ministers Sergey Landloff, agreed to meet with Secretary State Anthony 251 00:14:00,720 --> 00:14:03,840 Speaker 1: Blinkeln for talks in Europe next week. A judge who 252 00:14:03,960 --> 00:14:06,720 Speaker 1: rule that former President Donald Trump was answered questions under 253 00:14:06,760 --> 00:14:11,160 Speaker 1: oath in New York States civil investigation into his business practices. 254 00:14:11,600 --> 00:14:14,640 Speaker 1: The House Republican leader Kevin McCarthy took the unusual stamp 255 00:14:14,679 --> 00:14:19,040 Speaker 1: of endorsing the primary opponent of incumbent Republican Representative Liz Cheney. 256 00:14:19,520 --> 00:14:22,640 Speaker 1: And a massive cargo ship carrying thousands of new cars 257 00:14:23,040 --> 00:14:25,840 Speaker 1: has caught fire in the middle of the Atlantic Ocean 258 00:14:26,360 --> 00:14:29,800 Speaker 1: sports the Rangers fall to the Red Wings that ended 259 00:14:29,800 --> 00:14:32,760 Speaker 1: in a shootout. The Islanders beat the Bruins and the 260 00:14:32,880 --> 00:14:36,480 Speaker 1: Capital's top the flyers in the NBA, the Wizards, beat 261 00:14:36,520 --> 00:14:38,880 Speaker 1: the Nets. Global news twenty four hours a day on Aeron, 262 00:14:38,920 --> 00:14:42,640 Speaker 1: on Bloomberg, Quicktake, Power bott more than hundred journalists and analysts. 263 00:14:42,880 --> 00:14:46,400 Speaker 1: It more than one and twenty countries. I'm John Tucker 264 00:14:46,680 --> 00:14:50,520 Speaker 1: and this is Bloomberg. Nathan, John. Thank you. We're coming 265 00:14:50,600 --> 00:14:52,360 Speaker 1: up to six twenty on Wall Street Life from the 266 00:14:52,360 --> 00:14:55,520 Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and I'm 267 00:14:55,600 --> 00:14:58,160 Speaker 1: Nathan Hagar. All week it has been about the standoff 268 00:14:58,200 --> 00:15:01,720 Speaker 1: with Russia over concerns Moscow could invade Ukraine. The Kremlin 269 00:15:01,800 --> 00:15:04,880 Speaker 1: denies any plans to do so. The latest development is 270 00:15:04,880 --> 00:15:07,280 Speaker 1: a planned meeting between the US and Russia next week 271 00:15:07,320 --> 00:15:09,760 Speaker 1: in hopes of avoiding conflict. Let's get more on the 272 00:15:09,840 --> 00:15:13,640 Speaker 1: situation now from the perspective of Ukraine. Axanda Markarova is 273 00:15:13,720 --> 00:15:16,680 Speaker 1: the ambassador of Ukraine to the United States, and she 274 00:15:16,840 --> 00:15:19,360 Speaker 1: sat down for an interview with Bloomberg's and Marie Hordern 275 00:15:19,440 --> 00:15:23,080 Speaker 1: late yesterday. Let's listen in to that conversation. Now. President 276 00:15:23,120 --> 00:15:26,000 Speaker 1: Putin lately has mentioned the Minsk A Chords a number 277 00:15:26,040 --> 00:15:30,440 Speaker 1: of times. Now Kevin Moscow interpret them very differently. But 278 00:15:30,680 --> 00:15:33,720 Speaker 1: is the Ukrainian government under any pressure behind the scenes 279 00:15:34,200 --> 00:15:37,240 Speaker 1: to getting back to the table when it comes to 280 00:15:37,320 --> 00:15:41,400 Speaker 1: the Men's Accords and implementing them at some level. Well, 281 00:15:41,520 --> 00:15:47,000 Speaker 1: If anything, the Ukrainian government is pushing everyone to work 282 00:15:47,080 --> 00:15:50,760 Speaker 1: strongly together with us in order to find a diplomatic 283 00:15:50,840 --> 00:15:55,240 Speaker 1: pass So President Zelinski numerous times said that he's ready 284 00:15:55,600 --> 00:15:58,400 Speaker 1: for any meetings. He's ready to meet his president putting 285 00:15:58,440 --> 00:16:01,200 Speaker 1: he's ready to meet in any form at And we 286 00:16:01,400 --> 00:16:05,040 Speaker 1: have been asking for all the formats, Normandy and others 287 00:16:05,640 --> 00:16:08,360 Speaker 1: to be as active as possible. Would you be ground 288 00:16:08,440 --> 00:16:14,560 Speaker 1: on MENSK. We also requested that you have to participate more, 289 00:16:14,720 --> 00:16:17,680 Speaker 1: to to participate in any formats, to be more active, 290 00:16:17,720 --> 00:16:19,720 Speaker 1: and we see it alrighty if you if you go 291 00:16:19,840 --> 00:16:23,400 Speaker 1: back to the beginning of last year, there were discussions, 292 00:16:23,600 --> 00:16:25,600 Speaker 1: you know, and we always said that we would want 293 00:16:25,680 --> 00:16:28,800 Speaker 1: an active participation of the United States in any type 294 00:16:28,800 --> 00:16:32,360 Speaker 1: of formats to to resolve the situation and return peace 295 00:16:32,400 --> 00:16:35,000 Speaker 1: to Ukraine. So we're very happy that you ask is 296 00:16:35,120 --> 00:16:37,520 Speaker 1: very active on a on a diplomatic scene as one 297 00:16:37,560 --> 00:16:41,280 Speaker 1: of the leaders of this process. But on the Minska Chords, 298 00:16:41,320 --> 00:16:46,800 Speaker 1: I mean again, regardless of uh what you know, we 299 00:16:47,360 --> 00:16:53,160 Speaker 1: Ukrainians are very flexible in how we can reach the 300 00:16:53,240 --> 00:16:57,120 Speaker 1: peace if it doesn't cross the redlines. So there are 301 00:16:57,440 --> 00:17:00,880 Speaker 1: some strategic things for us. We will never give up 302 00:17:00,920 --> 00:17:03,080 Speaker 1: on our sovereignty, we will never give up on our 303 00:17:03,200 --> 00:17:06,040 Speaker 1: territorial integrity, we will never give up on our EU 304 00:17:06,119 --> 00:17:10,960 Speaker 1: Atlantic aspirations. But how to bring peace and how to 305 00:17:11,200 --> 00:17:14,840 Speaker 1: stop the ceasefire we are ready to discuss because for us, 306 00:17:14,880 --> 00:17:18,080 Speaker 1: again we are prepared to defend our country, but unlike 307 00:17:18,200 --> 00:17:21,080 Speaker 1: Mr putin the value each of our soldiers and each 308 00:17:21,119 --> 00:17:24,120 Speaker 1: of our civilians, so we would like to averd the war. 309 00:17:24,560 --> 00:17:27,879 Speaker 1: Your counterpart in the United Kingdom use that word flexible 310 00:17:28,160 --> 00:17:31,040 Speaker 1: recently in an interview, but he said flexibility when it 311 00:17:31,119 --> 00:17:34,920 Speaker 1: comes to maybe joining NATO or not. Then that was 312 00:17:35,000 --> 00:17:39,679 Speaker 1: walked back. Do you think that potentially could be an 313 00:17:39,760 --> 00:17:44,320 Speaker 1: agreement of Ukraine potentially being more flexible on its ambitions 314 00:17:44,400 --> 00:17:49,119 Speaker 1: to join NATA. No, and our president and our Minister 315 00:17:49,240 --> 00:17:54,880 Speaker 1: of Foreign Affairs have been very clear that our aspirations 316 00:17:54,920 --> 00:17:58,680 Speaker 1: to join NATAL is not only a firm belief of 317 00:17:58,760 --> 00:18:02,680 Speaker 1: our political leaders, it's also what the majority of Ukrainians want, 318 00:18:03,119 --> 00:18:06,040 Speaker 1: and it's also written in our constitution. What do you 319 00:18:06,080 --> 00:18:09,800 Speaker 1: think at this moment could be the diplomatic path that 320 00:18:09,920 --> 00:18:13,600 Speaker 1: could potentially save face for President Puttin on a global 321 00:18:13,720 --> 00:18:18,359 Speaker 1: stage that Ukraine would be willing to accept. Look, I 322 00:18:18,440 --> 00:18:22,800 Speaker 1: cannot speculate what it will take for President Puttin to 323 00:18:23,600 --> 00:18:27,120 Speaker 1: stop the aggression, but we have to be very clear here. 324 00:18:27,520 --> 00:18:30,560 Speaker 1: Ukraine is a peaceful country. We never attacked anyone who 325 00:18:30,600 --> 00:18:34,160 Speaker 1: never attacked Russia. We do not plan any offensives. It's 326 00:18:34,240 --> 00:18:37,199 Speaker 1: Russia who's the aggressor here. It's them who attacked us 327 00:18:37,240 --> 00:18:41,080 Speaker 1: into thousand fra Kin. It's them who amassed troops around 328 00:18:41,160 --> 00:18:46,400 Speaker 1: the Boder, And you know, challenge not only the situation 329 00:18:46,520 --> 00:18:50,280 Speaker 1: in Ukraine. You know, let's call a spade a spade here. 330 00:18:50,960 --> 00:18:54,440 Speaker 1: Russia has created a security crisis in Europe. It's not 331 00:18:54,640 --> 00:18:59,480 Speaker 1: only problem for Ukraine. So you know, whatever it takes. 332 00:18:59,680 --> 00:19:03,440 Speaker 1: I think in Ukraine has shown numerous times that despite 333 00:19:03,480 --> 00:19:07,320 Speaker 1: the fact that it was us who was attacked here, 334 00:19:07,880 --> 00:19:10,480 Speaker 1: we are ready to engage in diplomatic discussions and we 335 00:19:10,520 --> 00:19:13,560 Speaker 1: are ready to find the solution. Now again, having said that, 336 00:19:14,240 --> 00:19:18,480 Speaker 1: without discussing I was sovereignty, our thorough integrity, your red line, 337 00:19:18,800 --> 00:19:22,320 Speaker 1: our Atlantes, and that was Ukraine's ambassador to the United States, 338 00:19:22,359 --> 00:19:26,040 Speaker 1: Oxana Makarova, speaking with Bloomberg's Emrie Hordern about the current 339 00:19:26,240 --> 00:19:29,119 Speaker 1: standoff with Russia. And you can catch more of that 340 00:19:29,240 --> 00:19:34,600 Speaker 1: conversation online at Bloomberg dot com on helps this morning 341 00:19:34,680 --> 00:19:38,600 Speaker 1: for future talks next week between a Secretary of State 342 00:19:38,680 --> 00:19:42,800 Speaker 1: b Lincoln and Russian Foreign Minister Lavrov. Futures are moving higher. 343 00:19:42,960 --> 00:19:45,240 Speaker 1: We have SMP futures up twenty two points, now, DAT 344 00:19:45,240 --> 00:19:48,920 Speaker 1: futures up eight, NASTAC futures on the rise by a 345 00:19:49,040 --> 00:19:52,080 Speaker 1: hundred one points. The tenure treasury is down three thirty seconds, 346 00:19:52,119 --> 00:19:55,760 Speaker 1: the yield one. We'll have much more on geopolitics hitting 347 00:19:55,760 --> 00:19:59,200 Speaker 1: the markets, plus earnings from Roku and a dubious distinction 348 00:19:59,320 --> 00:20:01,560 Speaker 1: for metap platforms as we check the five things you 349 00:20:01,640 --> 00:20:03,760 Speaker 1: need to know to start your day just ahead on 350 00:20:03,840 --> 00:20:08,240 Speaker 1: Bloomberg Daybreak. All right, thanks Nathan. You need to know 351 00:20:08,400 --> 00:20:10,800 Speaker 1: we have a wind advisory a fact through ten o'clock 352 00:20:10,840 --> 00:20:14,240 Speaker 1: this wearing showers ending early clearing the Sanfao windy temperature 353 00:20:14,320 --> 00:20:17,200 Speaker 1: of ball through much of the day today. You're listening 354 00:20:17,240 --> 00:20:24,480 Speaker 1: to Bloomberg day Break, broadcasting live from the Bloomberg Interactive 355 00:20:24,520 --> 00:20:28,360 Speaker 1: Broker Studio in New York, Bloomberg E Living Freedom to Washington, 356 00:20:28,480 --> 00:20:32,280 Speaker 1: d C, Bloomberg one to Boston, Bloomberg one O six 357 00:20:32,400 --> 00:20:35,560 Speaker 1: one does San Francisco, Bloomberg nine sixty to the country, 358 00:20:35,680 --> 00:20:38,679 Speaker 1: Sirius XM to the one ninet and around the globe, 359 00:20:38,800 --> 00:20:42,240 Speaker 1: the Bloomberg Business apt and Bloomberg Radio dot Com. This 360 00:20:42,720 --> 00:20:51,640 Speaker 1: is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning. 361 00:20:51,680 --> 00:20:54,640 Speaker 1: I'm Nathan Hagger and I'm Karen Moscow. We're just about 362 00:20:54,720 --> 00:20:57,200 Speaker 1: three hours away from the open of US trading. Time 363 00:20:57,240 --> 00:20:59,520 Speaker 1: for the five things you need to notice start your day. 364 00:20:59,560 --> 00:21:02,320 Speaker 1: Brought to you by I v k R Investment Advisers 365 00:21:02,320 --> 00:21:05,760 Speaker 1: switched to interactive brokers for lowest cost global trading and 366 00:21:05,880 --> 00:21:09,600 Speaker 1: turnkey custody solutions, no ticket charges and no conflicts of 367 00:21:09,680 --> 00:21:12,159 Speaker 1: your interests at ibk R dot com slash r i 368 00:21:12,400 --> 00:21:16,920 Speaker 1: A first. Stocks are rising this morning despite ongoing geopolitical tensions. 369 00:21:17,160 --> 00:21:19,720 Speaker 1: Sentiment is getting a boost from word of plan talks 370 00:21:19,760 --> 00:21:23,520 Speaker 1: between the US and Russia. Russian foreign Minister Sergei Lavrov 371 00:21:23,600 --> 00:21:25,960 Speaker 1: has agreed to meet Secretary of St. Anthony B. Lincoln 372 00:21:26,040 --> 00:21:28,480 Speaker 1: in Europe next week, we caught up with former UN 373 00:21:28,520 --> 00:21:32,920 Speaker 1: Ambassador Thomas Pickering. I have that bad feeling in my 374 00:21:33,080 --> 00:21:35,800 Speaker 1: gut and will have it until a week begin to 375 00:21:35,920 --> 00:21:40,399 Speaker 1: see something that is more than declarations, which begins to 376 00:21:40,520 --> 00:21:45,600 Speaker 1: move us away from confrontation and towards a workout. Former 377 00:21:45,680 --> 00:21:48,960 Speaker 1: UN Ambassador Thomas Pickering spoke at our Washington corresponded Joe 378 00:21:49,040 --> 00:21:51,919 Speaker 1: Matthew on Bloomberg Sound on Catch the program weekdays at 379 00:21:51,920 --> 00:21:54,600 Speaker 1: five pm Eastern on Bloomberg Radio. Well, it's not just 380 00:21:54,720 --> 00:21:57,639 Speaker 1: geopolitical concerns. Care in the prospect of interest rate hikes 381 00:21:57,720 --> 00:22:01,080 Speaker 1: to tame red hot inflation has also contributed to the 382 00:22:01,160 --> 00:22:04,120 Speaker 1: recent sell off. St. Louis FED President Jim Bullard says 383 00:22:04,200 --> 00:22:06,960 Speaker 1: bringing down inflation may require the Central Bank to do more. 384 00:22:07,119 --> 00:22:10,520 Speaker 1: He thinks officials may need to overshoot the neutral target 385 00:22:10,560 --> 00:22:13,760 Speaker 1: interest rate, which he sees at around two percent. Investors 386 00:22:13,800 --> 00:22:17,159 Speaker 1: have also been slamming stocks on earnings misses and Nathan 387 00:22:17,240 --> 00:22:20,200 Speaker 1: In fact, Meta Platforms, the parent of Facebook, is tumbled 388 00:22:20,200 --> 00:22:23,040 Speaker 1: out of the world's ten largest companies by market value 389 00:22:23,440 --> 00:22:26,360 Speaker 1: that has been hammered by its worst monthly decline ever. 390 00:22:26,680 --> 00:22:28,920 Speaker 1: And you want to talk about getting hammered, Karen shares 391 00:22:28,960 --> 00:22:32,640 Speaker 1: of Roku this morning, or down nearly cent in early 392 00:22:32,680 --> 00:22:35,000 Speaker 1: trading thanks to an earnings miss. We get the details 393 00:22:35,080 --> 00:22:38,400 Speaker 1: on that from Bloomberg's Lisa Mateo. The streaming video platform 394 00:22:38,440 --> 00:22:41,800 Speaker 1: company reported fourth quarter revenue and issued a first quarter 395 00:22:41,920 --> 00:22:45,800 Speaker 1: sales forecast that both fell short of analysts estimates. The 396 00:22:45,880 --> 00:22:49,440 Speaker 1: company's chief financial officers said supply chain disruptions were a 397 00:22:49,520 --> 00:22:52,320 Speaker 1: headwind for the company. Roku was one of the stay 398 00:22:52,359 --> 00:22:55,520 Speaker 1: at home winners during the pandemic. It's stocking nearly one 399 00:22:55,960 --> 00:22:59,680 Speaker 1: and fifty percent in twenty as Covid accelerated the shift 400 00:23:00,200 --> 00:23:05,000 Speaker 1: streaming video among consumers. Lisa Matteo, Bloomberg Daybreak, Lisa, thank you, 401 00:23:05,119 --> 00:23:07,439 Speaker 1: And speaking of the pandemic, the White House is warning 402 00:23:07,520 --> 00:23:10,200 Speaker 1: that COVID cash is drying up. It's telling Congress that 403 00:23:10,280 --> 00:23:13,119 Speaker 1: the US does not have enough money on hand to 404 00:23:13,200 --> 00:23:17,040 Speaker 1: deal with future coronavirus variants, to stockpile vaccines, or to 405 00:23:17,160 --> 00:23:20,320 Speaker 1: develop new technologies. The Department of Health and Human Services 406 00:23:20,400 --> 00:23:22,760 Speaker 1: is asking for thirty billion dollars to prepare for new 407 00:23:22,840 --> 00:23:25,200 Speaker 1: waves of the virus. And that's the five things you 408 00:23:25,280 --> 00:23:27,239 Speaker 1: need to notice start your day. Brought to you by 409 00:23:27,600 --> 00:23:30,960 Speaker 1: Interactive Brokers Straight ahead, your latest local headlines, plus a 410 00:23:31,040 --> 00:23:38,840 Speaker 1: check of sports. And this is Bloomberg and it's six 411 00:23:38,960 --> 00:23:41,320 Speaker 1: thirty three on Wall Street. John Tucker is here with 412 00:23:41,359 --> 00:23:42,960 Speaker 1: a look at what's going on in New York and 413 00:23:43,119 --> 00:23:45,639 Speaker 1: around the world. Good morning John, Good morning Nathan. To 414 00:23:45,760 --> 00:23:48,720 Speaker 1: plead the fifth or not? That's the question facing Donald 415 00:23:48,760 --> 00:23:51,640 Speaker 1: Trump after a New York judge ordered the former president 416 00:23:51,680 --> 00:23:55,359 Speaker 1: to testify in a long running States civil investigation into 417 00:23:55,480 --> 00:23:59,600 Speaker 1: his business practices barring a successful appeal. Trumpet face of 418 00:23:59,640 --> 00:24:03,399 Speaker 1: this is between answering Attorney General Leticia James questions or 419 00:24:03,440 --> 00:24:08,120 Speaker 1: invoking his protection against selfiam termination. Trump has often equated 420 00:24:08,200 --> 00:24:11,120 Speaker 1: such silence with evidence of guilt. On a your state 421 00:24:11,160 --> 00:24:14,200 Speaker 1: trooper who testified that former governor and her Cuomo sexually 422 00:24:14,280 --> 00:24:17,560 Speaker 1: harassed her, is now suing him. She says Cuomo a 423 00:24:17,640 --> 00:24:20,760 Speaker 1: top eight and state police violated her civil rights. The 424 00:24:20,840 --> 00:24:24,119 Speaker 1: trooper's name was not disclosed in the lawsuit filed in Manhattan. 425 00:24:24,640 --> 00:24:27,960 Speaker 1: The wealthy Long Island resort of East Hampton delaying the 426 00:24:28,000 --> 00:24:31,560 Speaker 1: plan closing of its airport until my seventeenth. The story 427 00:24:31,680 --> 00:24:35,680 Speaker 1: from Bloomberg's Charlie Pellett. The Federal Aviation Administration warned of 428 00:24:35,840 --> 00:24:39,040 Speaker 1: flaws in the New York town's efforts to reduce noise 429 00:24:39,160 --> 00:24:42,440 Speaker 1: from air traffic. Last month, the town's board voted to 430 00:24:42,560 --> 00:24:44,680 Speaker 1: shut down the airport at the end of February and 431 00:24:44,760 --> 00:24:48,240 Speaker 1: reopen it as a more limited used facility on March fourth. 432 00:24:48,640 --> 00:24:51,159 Speaker 1: East Hampton was looking to cut down on air traffic 433 00:24:51,280 --> 00:24:54,439 Speaker 1: that has grown in recent years as rideshare apps make 434 00:24:54,520 --> 00:24:57,960 Speaker 1: helicopter and plane travel easier, but the FAA warned that 435 00:24:58,119 --> 00:25:00,879 Speaker 1: if the town closed the airfield, it could take as 436 00:25:00,920 --> 00:25:05,199 Speaker 1: many as two years to reopen. In New York. Charlie 437 00:25:05,240 --> 00:25:08,680 Speaker 1: Pellett blue Bird day Break, Hillary Clinton bank in the spotlight, 438 00:25:08,760 --> 00:25:12,439 Speaker 1: tearing into the GOP, mocking Donald Trump during his speech 439 00:25:12,520 --> 00:25:15,800 Speaker 1: at New York's Democratic Convention last night. They'll make it 440 00:25:16,000 --> 00:25:19,720 Speaker 1: harder for people to vote, but easier for big corporations 441 00:25:19,800 --> 00:25:24,080 Speaker 1: to bust unions. They'll let polluters trash our environment and 442 00:25:24,240 --> 00:25:27,959 Speaker 1: let Donald Trump trash our democracy. At the convention, Governor 443 00:25:28,040 --> 00:25:31,160 Speaker 1: Kathy Hoko accepted the state Democratic Party's nomination as their 444 00:25:31,240 --> 00:25:35,320 Speaker 1: candidate in the two governors race. Thousands of New Jersey 445 00:25:35,400 --> 00:25:38,639 Speaker 1: households will soon be getting a notification that their residences 446 00:25:38,960 --> 00:25:41,840 Speaker 1: have led service lines and will be replaced over the 447 00:25:41,920 --> 00:25:45,800 Speaker 1: next decade. This comes under a state law as according 448 00:25:45,840 --> 00:25:48,600 Speaker 1: to the Commissioner of the Department of Environmental Protection. Just 449 00:25:48,760 --> 00:25:51,480 Speaker 1: how quickly the lines will be replaced still isn't clear, 450 00:25:52,119 --> 00:25:54,640 Speaker 1: and a new poll shows climate change he is seen 451 00:25:54,720 --> 00:25:57,720 Speaker 1: as a bigger threat than war by majority of people 452 00:25:57,800 --> 00:26:00,440 Speaker 1: living in some of the world's top economies. The poll 453 00:26:00,560 --> 00:26:03,840 Speaker 1: was commissioned by the Munich Security Conference. It listened concerned 454 00:26:03,840 --> 00:26:07,440 Speaker 1: over global warming, habits at destruction, and extreme weather has 455 00:26:07,520 --> 00:26:11,200 Speaker 1: the top three risks named by twelve thousand people surveyed. Globally. 456 00:26:11,720 --> 00:26:14,080 Speaker 1: Global News twenty four hours a day on air. Annam 457 00:26:14,080 --> 00:26:17,000 Speaker 1: Bloomberg Quicktake. We're powered by more than twenty seven hunter 458 00:26:17,119 --> 00:26:20,280 Speaker 1: journalists and analysts in more than one d twenty countries. 459 00:26:20,520 --> 00:26:27,040 Speaker 1: I'm John Tucker. This he is Bloomberg and that brings 460 00:26:27,119 --> 00:26:30,240 Speaker 1: us to six thirty six Ball Street. And that's time 461 00:26:30,280 --> 00:26:32,639 Speaker 1: for the Bloomberg Sports Sunday. Good morning, what's again the 462 00:26:32,720 --> 00:26:35,239 Speaker 1: John Stasher? All right? Thanks? John? N BA has hit 463 00:26:35,320 --> 00:26:37,479 Speaker 1: the All Star break the game Sunday that in Cleveland. 464 00:26:37,560 --> 00:26:39,600 Speaker 1: Nick fans seemed to love Obie Topp and he'll be 465 00:26:39,640 --> 00:26:42,320 Speaker 1: in tomorrow night Slam Dunk competition. The Nets hit the 466 00:26:42,359 --> 00:26:44,320 Speaker 1: break thirty one and twenty eight. They had a recent 467 00:26:44,359 --> 00:26:46,720 Speaker 1: eleven game losings break and then one a couple of games, 468 00:26:46,920 --> 00:26:49,840 Speaker 1: including the epic comeback against the Knicks last night, a 469 00:26:50,000 --> 00:26:52,439 Speaker 1: COVID makeup the nets third game in four nights, they 470 00:26:52,520 --> 00:26:55,800 Speaker 1: lost at Barkley's to Washington one seventeen to one oh three. 471 00:26:55,880 --> 00:26:58,159 Speaker 1: Coach Steve Nash asked about the rest of the season. 472 00:26:58,240 --> 00:27:00,960 Speaker 1: We're excited, you know. We uh, we have twenty two 473 00:27:01,000 --> 00:27:03,800 Speaker 1: games to kind of come together as a team with 474 00:27:04,760 --> 00:27:09,560 Speaker 1: Kevin returning, Ben returning, um, you know, hopefully we got 475 00:27:09,680 --> 00:27:11,520 Speaker 1: a good run of health where we can really build 476 00:27:11,640 --> 00:27:13,560 Speaker 1: something in a short period of time and get to 477 00:27:13,640 --> 00:27:16,680 Speaker 1: get a you know, a better seed and also more 478 00:27:16,720 --> 00:27:19,520 Speaker 1: cohesion going into the playoffs. Nash reference Kevin durand he's 479 00:27:19,520 --> 00:27:21,760 Speaker 1: been out the past month. Ben Simmons, the new acquisition, 480 00:27:21,800 --> 00:27:24,679 Speaker 1: not known when he'll make his Nets debut. At the Garden, 481 00:27:24,800 --> 00:27:27,200 Speaker 1: Rangers and Red Wings went to a shootout. Rangers tie 482 00:27:27,240 --> 00:27:28,640 Speaker 1: the game and I'm making a band of jet power 483 00:27:28,680 --> 00:27:30,720 Speaker 1: play goal eight minutes left and that he scored on 484 00:27:30,760 --> 00:27:33,760 Speaker 1: the Rangers first shootout of Tampa. The next five Rangers 485 00:27:34,160 --> 00:27:36,520 Speaker 1: failed to score and in six rounds. Detroit won the 486 00:27:36,560 --> 00:27:38,560 Speaker 1: game three to two. The x Islanders, on this price 487 00:27:38,960 --> 00:27:41,719 Speaker 1: made thirty seven saves five more in the shootout. As 488 00:27:41,760 --> 00:27:44,159 Speaker 1: for the Islanders, they beat the Bruins at the Ubs 489 00:27:44,200 --> 00:27:46,400 Speaker 1: Arena four to one. The two sides of the baseball 490 00:27:46,480 --> 00:27:49,480 Speaker 1: lockout met and that meeting lasted all of fifteen minutes 491 00:27:49,560 --> 00:27:51,679 Speaker 1: of things are not going well in trying to get 492 00:27:51,680 --> 00:27:53,680 Speaker 1: a labor deal done. They're scheduled to meet again on Monday. 493 00:27:53,720 --> 00:27:56,320 Speaker 1: At the Olympics, US lost to Canada and the bronze 494 00:27:56,359 --> 00:27:58,840 Speaker 1: medal game for curling. US had won a surprising goal 495 00:27:59,000 --> 00:28:02,360 Speaker 1: four years ago Eileen go Listen San Francisco, but competed 496 00:28:02,400 --> 00:28:05,399 Speaker 1: for China Captain Big Run and freestyle skiing one our 497 00:28:05,480 --> 00:28:09,400 Speaker 1: third medal for second goal. John Statuellar, Bloomberg Sports. John, 498 00:28:09,520 --> 00:28:11,600 Speaker 1: all right, thanks so launch John. It is now six 499 00:28:11,720 --> 00:28:15,280 Speaker 1: thirty seven on Wall Street. This is Bloomberg Daybreak. Let's 500 00:28:15,320 --> 00:28:17,959 Speaker 1: turn our attention to the Fed and the economy right now, 501 00:28:18,119 --> 00:28:21,040 Speaker 1: joining us live with the Bloomberg intranton Broker Studios, Economic 502 00:28:21,080 --> 00:28:24,200 Speaker 1: Scross Wonted Mike McKee, Mike, good morning to you. More 503 00:28:24,280 --> 00:28:28,000 Speaker 1: Fed officials are speaking. They're sounding very hawkish. Well, you 504 00:28:28,119 --> 00:28:33,760 Speaker 1: also have to take into account who is the round 505 00:28:33,840 --> 00:28:37,560 Speaker 1: up the usual suspects of all English teachers calling me um. 506 00:28:38,000 --> 00:28:40,080 Speaker 1: We've heard from some of the more hawkish members like 507 00:28:40,240 --> 00:28:43,800 Speaker 1: Jim Bullard at Esther George. We're going to hear from 508 00:28:44,080 --> 00:28:48,000 Speaker 1: a couple of key speakers today. Charlie Evans, seen as 509 00:28:48,040 --> 00:28:51,000 Speaker 1: something of a moderate from Chicago. He's speaking, and John Williams, 510 00:28:51,040 --> 00:28:53,239 Speaker 1: who is the New York Fed President, and people pay 511 00:28:53,280 --> 00:28:55,920 Speaker 1: a lot of attention to what he says because by 512 00:28:56,000 --> 00:28:59,920 Speaker 1: tradition the Fed New York Fed president does not descend 513 00:29:00,000 --> 00:29:03,360 Speaker 1: it from votes with the chairman, So whatever he says 514 00:29:03,400 --> 00:29:05,000 Speaker 1: will give you a pretty good idea of where j. 515 00:29:05,160 --> 00:29:10,120 Speaker 1: Powell is. What are we expecting to hear that the 516 00:29:10,240 --> 00:29:14,360 Speaker 1: Fed does feel that we've gone too far and inflation 517 00:29:14,520 --> 00:29:17,080 Speaker 1: is too hot, and they are going to raise interest rates, 518 00:29:17,160 --> 00:29:20,080 Speaker 1: but they're still not sure how far how fast. We 519 00:29:20,280 --> 00:29:23,040 Speaker 1: have pretty much come to a consensus on Wall Street 520 00:29:23,080 --> 00:29:25,400 Speaker 1: in the last week that they're gonna do between five 521 00:29:25,440 --> 00:29:29,320 Speaker 1: and seven rate increases this year. There are seven meetings left, 522 00:29:29,720 --> 00:29:31,720 Speaker 1: and does the Fed think they need to go that 523 00:29:31,840 --> 00:29:34,040 Speaker 1: far that fast? I suspect we're going to hear an 524 00:29:34,120 --> 00:29:39,000 Speaker 1: argument for being cautious and following the data. These guys 525 00:29:39,080 --> 00:29:43,720 Speaker 1: have to make their forecast for inflation and growth, not 526 00:29:43,920 --> 00:29:47,840 Speaker 1: knowing what's going to happen with the COVID uh pandemic, 527 00:29:47,880 --> 00:29:50,200 Speaker 1: whether we're gonna have another variant, and not knowing what's 528 00:29:50,200 --> 00:29:52,840 Speaker 1: gonna happen with Ukraine and Russia and what impact that 529 00:29:52,960 --> 00:29:54,840 Speaker 1: might have on the economy. So I think they're gonna 530 00:29:54,840 --> 00:29:57,280 Speaker 1: be more cautious than some people on Wall Street have 531 00:29:57,360 --> 00:29:59,760 Speaker 1: been expecting. A much of the difference is there between 532 00:29:59,800 --> 00:30:03,840 Speaker 1: the on street expectations and what the FED speakers have 533 00:30:03,960 --> 00:30:07,240 Speaker 1: been saying. I guess what I'm asking is, are we 534 00:30:07,360 --> 00:30:10,160 Speaker 1: set up for some big surprises to the markets? I 535 00:30:10,200 --> 00:30:12,320 Speaker 1: don't think we'll get big surprises. The Fed's gonna push 536 00:30:12,360 --> 00:30:15,360 Speaker 1: back on the idea that they're locked into anything. Uh. 537 00:30:15,720 --> 00:30:17,719 Speaker 1: If you ask any of these FED officials, are you're 538 00:30:17,720 --> 00:30:20,840 Speaker 1: gonna do seven rading increases this year? They'll demur and say, 539 00:30:21,200 --> 00:30:23,520 Speaker 1: we are going to watch what happens in the economy 540 00:30:23,640 --> 00:30:27,360 Speaker 1: before we decide. But they are in agreement with the 541 00:30:27,480 --> 00:30:29,720 Speaker 1: market that rates have to go up. Big questions do 542 00:30:29,800 --> 00:30:33,080 Speaker 1: they go up fifty basis points at the March meeting? 543 00:30:33,360 --> 00:30:34,800 Speaker 1: And I don't think we get an answer to that, 544 00:30:34,960 --> 00:30:37,560 Speaker 1: yet they'll want to wait until they see the next 545 00:30:37,960 --> 00:30:41,920 Speaker 1: jobs and CPI figures in early March before their meeting. 546 00:30:42,040 --> 00:30:45,160 Speaker 1: We're still buying assets, still stimulating. Does that matter or 547 00:30:45,240 --> 00:30:48,320 Speaker 1: is it the rates that are the heavy lifters. It 548 00:30:48,480 --> 00:30:51,240 Speaker 1: doesn't matter to the economy because the amount they're buying 549 00:30:51,360 --> 00:30:53,880 Speaker 1: is so small. But the symbolism has been a problem 550 00:30:53,960 --> 00:30:56,120 Speaker 1: for the Fed, And of course their issue is always 551 00:30:56,200 --> 00:30:58,880 Speaker 1: communication with the markets and with the American people, and 552 00:30:58,960 --> 00:31:02,440 Speaker 1: the idea that they're still stimulating doesn't sit well with 553 00:31:02,480 --> 00:31:04,680 Speaker 1: a lot of people who think we have an inflation problem. 554 00:31:04,840 --> 00:31:08,920 Speaker 1: Bloomberg Economics corresponded Mike McKee. Mike, thanks for stopping mind 555 00:31:08,960 --> 00:31:11,040 Speaker 1: this morning. Appreciate it. Ahead of the cash open on 556 00:31:11,120 --> 00:31:14,880 Speaker 1: Wall Street, dal futures of one six, Anson V futures 557 00:31:14,920 --> 00:31:18,320 Speaker 1: up twenty two but ends DANK futures up ninety eight points. 558 00:31:18,520 --> 00:31:23,600 Speaker 1: This is Bloomberg and the Bloomberg Weather wind advisory that 559 00:31:23,800 --> 00:31:26,800 Speaker 1: runs through ten o'clock this morning. Showers ending early this 560 00:31:26,920 --> 00:31:30,720 Speaker 1: morning will clearing the Santa Doon, windy temperatures going through 561 00:31:31,000 --> 00:31:38,240 Speaker 1: much of the day. They see is Bloomberg Markets headlines 562 00:31:38,320 --> 00:31:41,280 Speaker 1: and breaking news twenty four hours a day at Bloomberg 563 00:31:41,360 --> 00:31:44,160 Speaker 1: dot Com and the Bloomberg Business apt and at Bloomberg 564 00:31:44,200 --> 00:31:53,520 Speaker 1: Quick Tape, He's a Bloomberg Business Flash and I'm Karen 565 00:31:53,600 --> 00:31:55,560 Speaker 1: Moscow future is on the rise. This morning, we go 566 00:31:55,640 --> 00:31:58,040 Speaker 1: to the First Word Breaking news desk for today's morning call. 567 00:31:58,120 --> 00:32:01,840 Speaker 1: Here's Bill Maloney. Bill, good morning, and good morning, Karen. 568 00:32:01,920 --> 00:32:04,920 Speaker 1: That's right. US teachers are in the green after yesterday's plunge, 569 00:32:04,920 --> 00:32:07,480 Speaker 1: with doubt futures currently up a hundred two points. S 570 00:32:07,560 --> 00:32:10,680 Speaker 1: and B s gained eighteen Nastic futures rise by eighty four. 571 00:32:11,160 --> 00:32:13,840 Speaker 1: The US ten year old at one point nine seven percent. 572 00:32:14,040 --> 00:32:16,840 Speaker 1: Gold and oil are both down, Bitcoin is lowered by 573 00:32:16,880 --> 00:32:20,760 Speaker 1: point seven percent, and Hong Kong fell one percent overnight. 574 00:32:21,120 --> 00:32:24,480 Speaker 1: Note that the Hong Kong plans COVID mass testing for 575 00:32:24,600 --> 00:32:27,280 Speaker 1: the whole city. Up of markets are trading mixed right 576 00:32:27,320 --> 00:32:29,360 Speaker 1: now and back in the US on the economic front. 577 00:32:29,560 --> 00:32:32,800 Speaker 1: At ten o'clock, existing home sales after the bells night 578 00:32:32,880 --> 00:32:35,960 Speaker 1: Roku report, it shares it down twenty five percent pre market, 579 00:32:36,280 --> 00:32:39,280 Speaker 1: and regarding earnings this morning, dear raised its full year 580 00:32:39,360 --> 00:32:42,560 Speaker 1: profit outlook. Indian News Selonis agreed to buy most of 581 00:32:42,680 --> 00:32:46,000 Speaker 1: DuPont's materials are for eleven billion and wrapping things up. 582 00:32:46,080 --> 00:32:48,600 Speaker 1: J B hunt was raised to neutral over at JP 583 00:32:48,720 --> 00:32:52,240 Speaker 1: Morgan Live from the first breaking news that's gone, Bill Maloney, Karen, 584 00:32:52,440 --> 00:32:54,280 Speaker 1: all right, Bill, thank you and to hear live breaking 585 00:32:54,320 --> 00:32:57,200 Speaker 1: news over your Bloomberg type squawk on your terminal ascue 586 00:32:57,280 --> 00:32:59,880 Speaker 1: you a w K. That's a Bloomberg business flash. Now 587 00:33:00,080 --> 00:33:02,160 Speaker 1: is John Tucker with more on what's going on around 588 00:33:02,200 --> 00:33:05,120 Speaker 1: the world, John, and good morning, Karen. President Biden warning 589 00:33:05,160 --> 00:33:08,840 Speaker 1: the probability of an invasion of Ukron's Ukraine still very high. 590 00:33:08,920 --> 00:33:11,880 Speaker 1: The Russian Foreign Minister Sergey laugh Roth has agreed to 591 00:33:11,960 --> 00:33:15,040 Speaker 1: meet with Secretary State Anthony Blinkeln for talks in Europe 592 00:33:15,160 --> 00:33:18,560 Speaker 1: next week. A Judge's World, Former President Donald Trump must 593 00:33:18,600 --> 00:33:22,720 Speaker 1: answer questions under oath in New York States civil investigation 594 00:33:23,040 --> 00:33:26,640 Speaker 1: into his business practices, and the House Republican leader Kevin 595 00:33:26,720 --> 00:33:31,000 Speaker 1: McCarthy taking the unusual step of endorsing the primary opponent 596 00:33:31,160 --> 00:33:35,880 Speaker 1: of incumbent Republican Representative Liz Cheney. Sports Rangers fall to 597 00:33:36,000 --> 00:33:39,040 Speaker 1: the Red Wings and a shootout, The Islanders beat the Bruins, 598 00:33:39,240 --> 00:33:42,160 Speaker 1: the Capitals topping the Flyers, and in the NBA, the 599 00:33:42,280 --> 00:33:45,000 Speaker 1: Wizards beat the Nets Global News twenty four hours a 600 00:33:45,080 --> 00:33:47,560 Speaker 1: day on air, and I'm Bloomberg Quick Take, powered by 601 00:33:47,640 --> 00:33:50,480 Speaker 1: more than twenty seven hundred journalists and analysts. It more 602 00:33:50,520 --> 00:33:54,520 Speaker 1: than one hundred twenty countries. I'm John Tucker. This is Bloomberg. 603 00:33:55,160 --> 00:33:59,920 Speaker 1: The following commentary is from Bloomberg Opinion. New COVID tell 604 00:34:00,000 --> 00:34:02,440 Speaker 1: are needed as much as ever. I'm Lisa Jarvis, a 605 00:34:02,520 --> 00:34:06,960 Speaker 1: columnist for Bloomberg Opinion. Even as omicron infections plummet, preparations 606 00:34:07,080 --> 00:34:09,680 Speaker 1: must be made for whatever COVID nineteen throws it us next. 607 00:34:09,840 --> 00:34:11,600 Speaker 1: A good way to do that is to develop new 608 00:34:11,640 --> 00:34:13,800 Speaker 1: anti virals that can be used more easily than the 609 00:34:13,840 --> 00:34:16,480 Speaker 1: two existing COVID pills. Visor's packs of it it and 610 00:34:16,520 --> 00:34:19,480 Speaker 1: merk small niperevir were authorized last year with much fanfare, 611 00:34:19,640 --> 00:34:23,120 Speaker 1: but their use is complicated well. Nuperavir cary safety warnings 612 00:34:23,160 --> 00:34:25,719 Speaker 1: that seem to outweigh its modest benefits, and packs of 613 00:34:25,800 --> 00:34:28,840 Speaker 1: it is very effective but can interact with commonly used drugs. 614 00:34:29,239 --> 00:34:31,920 Speaker 1: Several new anti virals are advancing in the clinic this year, 615 00:34:32,040 --> 00:34:35,400 Speaker 1: including pills from Shian Nogi and Notto Pharmaceuticals, and no Artists. 616 00:34:35,760 --> 00:34:38,319 Speaker 1: This week part is Bioscience is offered a glimpse at 617 00:34:38,360 --> 00:34:41,080 Speaker 1: early data on its own pill. So far, it appears 618 00:34:41,120 --> 00:34:43,200 Speaker 1: safe to give with other medicines, but might not shut 619 00:34:43,239 --> 00:34:45,920 Speaker 1: the virus down as effectively as packs with it. We'll 620 00:34:45,960 --> 00:34:48,360 Speaker 1: see more data from PARTIS in March. Ideally, one of 621 00:34:48,400 --> 00:34:51,759 Speaker 1: these efforts will yield a simpler, safer oral antivirals that 622 00:34:51,800 --> 00:34:55,280 Speaker 1: could be easy and inexpensive to distribute widely. I'm Lisa Jarvist. 623 00:34:55,360 --> 00:34:58,120 Speaker 1: For more opinion, please go to Bloomberg dot com, Slash 624 00:34:58,200 --> 00:35:01,240 Speaker 1: Opinion or O P I N on the Bloomberg terminal. 625 00:35:01,520 --> 00:35:05,520 Speaker 1: These has been Bloomberg Opinion and Bloomberg Opinion commentaries can 626 00:35:05,560 --> 00:35:08,160 Speaker 1: be heard every weekday at this time, and terminal customers 627 00:35:08,239 --> 00:35:10,640 Speaker 1: can read more at O p I N go. It 628 00:35:10,760 --> 00:35:12,719 Speaker 1: is six fifty on Wall Street. Returned to news and 629 00:35:12,840 --> 00:35:15,320 Speaker 1: science and technology now with the Bloomberg n j I 630 00:35:15,440 --> 00:35:18,440 Speaker 1: T STEM Report, brought to you by New Jersey Institute 631 00:35:18,440 --> 00:35:22,200 Speaker 1: of Technology, ranked top fifty national public university by US 632 00:35:22,280 --> 00:35:24,600 Speaker 1: News and World Report and a top fifty college for 633 00:35:24,719 --> 00:35:28,560 Speaker 1: undergraduate entrepreneurship studies by the Princeton Review. Learn more at 634 00:35:28,640 --> 00:35:31,160 Speaker 1: n j I T dot E DU now Here's just 635 00:35:31,239 --> 00:35:34,840 Speaker 1: making news and science, technology, engineering, and math. The Biden 636 00:35:34,840 --> 00:35:38,200 Speaker 1: administration is warning that COVID cash is drying up. It's 637 00:35:38,239 --> 00:35:40,640 Speaker 1: telling Congress that the US does not have enough money 638 00:35:40,760 --> 00:35:44,840 Speaker 1: on hand to deal with future coronavirus variants, stockpile vaccines, 639 00:35:44,960 --> 00:35:47,600 Speaker 1: or develop new technologies. The Department of Health and Human 640 00:35:47,680 --> 00:35:50,800 Speaker 1: Services is asking for thirty billion dollars to prepare for 641 00:35:50,960 --> 00:35:53,960 Speaker 1: new waves of the virus. In Hong Kong, the pandemic 642 00:35:54,080 --> 00:35:58,280 Speaker 1: situation has shifted from over the top caution to outright chaos. 643 00:35:58,719 --> 00:36:01,279 Speaker 1: The COVID zero strategy kept the city largely free of 644 00:36:01,320 --> 00:36:04,799 Speaker 1: the coronavirus for the past two years, but elaborate defenses 645 00:36:05,040 --> 00:36:07,719 Speaker 1: have collapsed in the face of the omicron variant. Now, 646 00:36:07,840 --> 00:36:10,920 Speaker 1: hospitals are overwhelmed, and if ozers say that shows Hong 647 00:36:11,000 --> 00:36:14,000 Speaker 1: Kong was not prepared to tackle the outbreak. Google and 648 00:36:14,080 --> 00:36:17,960 Speaker 1: Facebook parent Meta could be facing a data doomsday in 649 00:36:18,040 --> 00:36:21,360 Speaker 1: the European Union. One of the region's top privacy watchdogs 650 00:36:21,719 --> 00:36:25,640 Speaker 1: is preparing a decision that could paralyze transatlantic data flows 651 00:36:26,000 --> 00:36:29,000 Speaker 1: and risk billions in revenue for the two companies. It 652 00:36:29,120 --> 00:36:32,560 Speaker 1: has to do with contract terms used by Meta, Google 653 00:36:32,680 --> 00:36:35,879 Speaker 1: and others to legally transfer user data to the US 654 00:36:36,040 --> 00:36:38,640 Speaker 1: for processing. And that's the Bloomberg n j I t 655 00:36:38,760 --> 00:36:42,440 Speaker 1: STEM report, Nathan, another headache for the Meta mates potentially. 656 00:36:42,719 --> 00:36:46,000 Speaker 1: Thank you. Karen from the Bloomberg Interactive Brokers studios were 657 00:36:46,080 --> 00:36:48,239 Speaker 1: coming up to six fifty two on Wall Street Time 658 00:36:48,280 --> 00:36:50,239 Speaker 1: Now to check what's going on in d C. Some 659 00:36:50,360 --> 00:36:52,640 Speaker 1: of the top stories in our nation's capital include the 660 00:36:52,760 --> 00:36:55,840 Speaker 1: US and Russia planning to keep talking as the crisis 661 00:36:55,960 --> 00:37:00,160 Speaker 1: over Ukraine continues, the Senate clearing a three week up 662 00:37:00,200 --> 00:37:04,320 Speaker 1: gap to avoid a government shutdown tonight, and House Republican 663 00:37:04,400 --> 00:37:08,799 Speaker 1: leader Kevin McCarthy endorsing Liz Cheney's primary opponent. Let's get 664 00:37:08,880 --> 00:37:11,760 Speaker 1: more on all these stories. Bloomberg Government reporter Emily Wilkins 665 00:37:12,239 --> 00:37:15,160 Speaker 1: joins us live from the nation's capital. We've been watching 666 00:37:15,239 --> 00:37:18,120 Speaker 1: the tensions surrounding Ukraine all week, Emily, Can you get 667 00:37:18,200 --> 00:37:21,800 Speaker 1: us up to speed on the latest diplomacy. Sure. So, 668 00:37:22,000 --> 00:37:25,280 Speaker 1: it's been announced that Secretary of St. Anthony B. Lincoln 669 00:37:25,960 --> 00:37:29,479 Speaker 1: is going to be meeting with his Russian counterpart next week. 670 00:37:29,840 --> 00:37:33,080 Speaker 1: We're also going to see Defense Secretary Lloyd Austin speaking 671 00:37:33,160 --> 00:37:36,320 Speaker 1: with his counterpart in Russia. And you have heard Biden 672 00:37:36,360 --> 00:37:39,279 Speaker 1: continue to say that diplomacy is the way they want 673 00:37:39,360 --> 00:37:43,240 Speaker 1: to go forward here. But they're also warning from warnings 674 00:37:43,320 --> 00:37:46,239 Speaker 1: from the Pentagon of a potential false flag attack. That 675 00:37:46,320 --> 00:37:50,600 Speaker 1: would be something where Russia would have perhaps a chemical 676 00:37:50,680 --> 00:37:54,560 Speaker 1: weapons attack, either real or faked within Russia and use 677 00:37:54,680 --> 00:37:57,959 Speaker 1: that as an excuse for invading Ukraine. That is something 678 00:37:58,040 --> 00:38:02,040 Speaker 1: we are now hearing Lincoln and of begin to warn of. Um, 679 00:38:02,320 --> 00:38:04,800 Speaker 1: where are And I think a lot of this it 680 00:38:04,920 --> 00:38:06,680 Speaker 1: just sort of depends how the next couple of days 681 00:38:06,760 --> 00:38:09,920 Speaker 1: play out. Biden's still warning that there could be an 682 00:38:09,960 --> 00:38:13,080 Speaker 1: invasion within the next few days, but of course there's 683 00:38:13,120 --> 00:38:16,680 Speaker 1: that meeting between b Lincoln and his counterpart next week. 684 00:38:17,040 --> 00:38:19,319 Speaker 1: A lot is up in the air right now. Um, 685 00:38:19,440 --> 00:38:22,239 Speaker 1: this is occurring as members of Congress are now back 686 00:38:22,280 --> 00:38:25,319 Speaker 1: home in their districts. Uh, they could be called back 687 00:38:25,360 --> 00:38:28,200 Speaker 1: to d C fairly quickly if they needed to do something. 688 00:38:28,400 --> 00:38:31,240 Speaker 1: But a lot of this is kind of considering continuing 689 00:38:31,280 --> 00:38:34,360 Speaker 1: that wait and see posture where Biden's both warning of 690 00:38:34,400 --> 00:38:38,160 Speaker 1: an attack but also trying to keep diplomatic channels open. Yeah, 691 00:38:38,239 --> 00:38:41,200 Speaker 1: so we'll be watching more of those diplomatic developments as 692 00:38:41,280 --> 00:38:45,239 Speaker 1: they continue potentially into the weekend. And speaking of lawmakers 693 00:38:45,440 --> 00:38:50,040 Speaker 1: back home in their district. Emily, I guess government shutdowns 694 00:38:50,080 --> 00:38:54,560 Speaker 1: averted for a little while, a little while until March eleventh, UM. 695 00:38:54,680 --> 00:38:57,000 Speaker 1: But this really shouldn't be seen as as a big win. 696 00:38:57,400 --> 00:39:00,320 Speaker 1: I mean, lawmakers are still using the funding ali cated 697 00:39:00,440 --> 00:39:03,000 Speaker 1: under the Trump administration, which I guess it's great. It's 698 00:39:03,000 --> 00:39:06,720 Speaker 1: great for Republicans, but for Democrats there's more new funding 699 00:39:06,800 --> 00:39:08,319 Speaker 1: that they want to put in. They want to sort 700 00:39:08,320 --> 00:39:12,200 Speaker 1: of change different revenues, uh, fun new things. I mean, 701 00:39:12,280 --> 00:39:14,040 Speaker 1: this is pretty common. This is why we get a 702 00:39:14,080 --> 00:39:18,040 Speaker 1: new spending plan every year to address some of those 703 00:39:18,120 --> 00:39:21,839 Speaker 1: changes that really need to be made, and currently they're not. UM. 704 00:39:22,080 --> 00:39:23,920 Speaker 1: We do know that there are some top line numbers 705 00:39:24,000 --> 00:39:26,200 Speaker 1: that have been agreed to that speaks well of getting 706 00:39:26,280 --> 00:39:29,239 Speaker 1: some sort of longer term agreement in place by March 707 00:39:29,400 --> 00:39:33,640 Speaker 1: eleven UM. Also, the bill that was passed yesterday, we 708 00:39:33,800 --> 00:39:36,960 Speaker 1: did see some additional funding for things that the Pentagon 709 00:39:37,120 --> 00:39:40,320 Speaker 1: requested for defense, so that's included in their Biden just 710 00:39:40,440 --> 00:39:43,200 Speaker 1: needs to sign this bill and then once again, this 711 00:39:43,320 --> 00:39:44,719 Speaker 1: is going to be a thing while makers are out 712 00:39:44,760 --> 00:39:46,400 Speaker 1: this week. They come back in March and it's going 713 00:39:46,440 --> 00:39:48,719 Speaker 1: to be a rush to get government spending done. That 714 00:39:48,840 --> 00:39:52,520 Speaker 1: puts other priorities like provisions within the Build Back Better 715 00:39:52,640 --> 00:39:55,839 Speaker 1: Bill on the back burner for well into March. At 716 00:39:55,880 --> 00:39:58,919 Speaker 1: this point, I guess it's not an issue at least 717 00:39:59,200 --> 00:40:01,600 Speaker 1: for President in State of the Union address coming in 718 00:40:01,719 --> 00:40:05,719 Speaker 1: between now and when the next round of funding runs out. 719 00:40:05,800 --> 00:40:09,839 Speaker 1: But in our last minute here emily very interesting development 720 00:40:10,120 --> 00:40:13,280 Speaker 1: in the Republican Party with the leader of the party 721 00:40:13,320 --> 00:40:16,520 Speaker 1: in the House endorsing a primary opponent to one of 722 00:40:16,600 --> 00:40:19,760 Speaker 1: his own members. Yeah, this is rare. Leadership usually stays 723 00:40:19,760 --> 00:40:22,040 Speaker 1: out of primary races, and if they do get into it, 724 00:40:22,160 --> 00:40:24,879 Speaker 1: it's to defend an incumbent, not to support someone who's 725 00:40:24,920 --> 00:40:28,360 Speaker 1: running against them. But McCarthy said he was backing Harriet Hagman. 726 00:40:28,480 --> 00:40:31,279 Speaker 1: She's a pro Trump candidate. Trump's already endorsed her. And 727 00:40:31,360 --> 00:40:34,000 Speaker 1: this really comes after Liz Cheney. You know, not only 728 00:40:34,040 --> 00:40:37,600 Speaker 1: did she vote to impeach Donald Trump, not only did 729 00:40:37,680 --> 00:40:40,920 Speaker 1: she agree to sit on this January six commission, but 730 00:40:41,040 --> 00:40:44,040 Speaker 1: she's also been very outspoken for the Republican Party and 731 00:40:44,120 --> 00:40:47,160 Speaker 1: their response to the election, as well as the January 732 00:40:47,239 --> 00:40:49,840 Speaker 1: six attack on the Capitol. McCarthy has been under a 733 00:40:49,880 --> 00:40:53,200 Speaker 1: lot of pressure from his further right members to address 734 00:40:53,320 --> 00:40:55,920 Speaker 1: this in some way, shape or form, and by backing 735 00:40:56,080 --> 00:40:59,400 Speaker 1: his primary opponent, McCarthy's kind of signaling. Look, Um, I 736 00:40:59,680 --> 00:41:02,320 Speaker 1: don't necessarily support Cheney anymore, but it's going to have 737 00:41:02,480 --> 00:41:04,440 Speaker 1: to be the voters of Wyoming who make the final 738 00:41:04,520 --> 00:41:07,440 Speaker 1: decision on whether she comes back to Congress. Thanks for this, 739 00:41:07,600 --> 00:41:10,600 Speaker 1: Emily Hope. It's a RESTful holiday weekend for you. Bloomberg 740 00:41:10,600 --> 00:41:13,279 Speaker 1: Government reporter Emily Wilkins with us from Washington. You can 741 00:41:13,320 --> 00:41:16,319 Speaker 1: read more about all these stories at Bloomberg dot com 742 00:41:16,480 --> 00:41:18,800 Speaker 1: or on the Bloomberg terminal, and listen to Bloomberg Radio 743 00:41:19,080 --> 00:41:22,279 Speaker 1: in the nation's capital Bloomberg one and one oh five 744 00:41:22,320 --> 00:41:25,520 Speaker 1: point seven FM h D two. Karen, Thanks Nathan. It 745 00:41:25,640 --> 00:41:28,520 Speaker 1: is six fifty six on Wall Street. This is Bloomberg Daybreak. 746 00:41:28,560 --> 00:41:31,080 Speaker 1: February is Black History Month, and every day this month 747 00:41:31,160 --> 00:41:34,600 Speaker 1: we're celebrating significant moments in US black history. Now with 748 00:41:34,680 --> 00:41:38,239 Speaker 1: your installment for February eighteenth, here's Bloomberg's for Needy Young. 749 00:41:38,719 --> 00:41:43,480 Speaker 1: On this day in black history. In Germantown, Pennsylvania, Quakers 750 00:41:43,600 --> 00:41:47,680 Speaker 1: hold the first formal protest against slavery. A petition was 751 00:41:47,800 --> 00:41:50,000 Speaker 1: drafted on behalf of the German town meeting of the 752 00:41:50,080 --> 00:41:53,960 Speaker 1: religious Society Friends. In the document, the four men use 753 00:41:54,040 --> 00:41:57,960 Speaker 1: the Bible's Golden rule to argue against such inhumane treatment 754 00:41:58,120 --> 00:42:01,160 Speaker 1: of their fellow man, regardless of the color of their skin. 755 00:42:01,719 --> 00:42:03,920 Speaker 1: And the golden rule, of course, is the principle of 756 00:42:04,000 --> 00:42:06,560 Speaker 1: treating others as you would want to be treated. The 757 00:42:06,640 --> 00:42:10,600 Speaker 1: petition argued that every human, regardless of their belief, color, 758 00:42:10,920 --> 00:42:15,280 Speaker 1: or ethnicity, has rights that should not be violated. Seeing 759 00:42:15,320 --> 00:42:19,000 Speaker 1: the injustices of the slave trade, these men courageously took 760 00:42:19,000 --> 00:42:23,120 Speaker 1: a stand against slavery based on their religious and moral beliefs. 761 00:42:23,600 --> 00:42:26,279 Speaker 1: That's today in Black history. I'm gonna need a young 762 00:42:26,560 --> 00:42:30,000 Speaker 1: Bloomberg radio right, Grinita, thank you, and futures this morning 763 00:42:30,120 --> 00:42:32,920 Speaker 1: on the rise, SNP futures up fourteen points to now 764 00:42:33,040 --> 00:42:36,759 Speaker 1: futures up sixty nine and NASDAG futures up seventy eight. 765 00:42:37,160 --> 00:42:40,840 Speaker 1: Bloomberg Surveillance Straight Ahead with Tom King, Jonathan Farrow, and 766 00:42:41,040 --> 00:42:44,680 Speaker 1: Lisa of Ramowitz And for Nathan Hagar, I'm Karen Moscow 767 00:42:44,840 --> 00:42:46,400 Speaker 1: and this is Bloomberg