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Speaker 1: My from the Bloomberg Interactor Burgers Studios is is Bloomberg

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Speaker 1: Daybreak for a Friday, March eleven two Coming up this hour.

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Speaker 1: Russia continues air strikes in Ukraine as the death toll

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Speaker 1: from the war mounts. President Biden calls for an end

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Speaker 1: to normal trade relations with Russia. The Senate clears the

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Speaker 1: spending bill that includes aid for Ukraine, and Goldman Sachs

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Speaker 1: warrants about the risk of a US recession. New York

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Speaker 1: Mayor Eric Adams unveils his economic development plan. Plus New

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Speaker 1: Jersey residents say no self serve gasoline. I'm Michael bar

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Speaker 1: More Ahead, I'm John stash Darn sports. The baseball lockout

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Speaker 1: is over. Opening day of April seventh. Big win for

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Speaker 1: the NPT, the Rangers lost, heartbreaking loss for St. John.

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Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg eleven, Trio,

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Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one, O

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Speaker 1: six one, Boston, Bloomberg nine six, San Francisco, Sirius x

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Speaker 1: M one nineteen and around the world. Old on Bloomberg

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Speaker 1: Radio dot Com and via The Bloomberg Business and Good Morning.

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Speaker 1: I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak, brought to

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Speaker 1: you by Interactive Brokers Global Analysts helps you find global

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Speaker 1: investment opportunities. To diversify your portfolio and discover undervalued companies

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Speaker 1: that may have greater growth potential. Try I v k

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Speaker 1: our Global Analysts today at I b k R dot com,

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Speaker 1: slash g A and US futures are higher this morning

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Speaker 1: at is six oh one on Wall Street. I mean

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Speaker 1: check the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg, SNP Future is up nineteen points down, futures

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Speaker 1: up a hundred twelve. NAS Day Future is up sixty one.

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Speaker 1: The decks in Germany's up eight tenths of upper cent,

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Speaker 1: the ten year treasury up one thirty second, the yield

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Speaker 1: one point nine eight percent. Nathan, all right, Karen, thanks,

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Speaker 1: we'll get back to markets in a minute. First, the

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Speaker 1: latest on the war in Ukraine. Two cities in western

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Speaker 1: Ukraine were hit by air strikes overnight. Those locations had

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Speaker 1: been far from the side of recent fighting. Russia is

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Speaker 1: also not letting up on the ports city of Mariopol

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Speaker 1: after the bombing of him at Pernitian Children's Hospital. Bloomberg said,

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Speaker 1: Baxter has the latest. Civilians trapped inside the frigid city

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Speaker 1: are scrounging for food and fuel under constant bombardment. Many

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Speaker 1: don't even have heat. Michael nine, Highest president and CEO

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Speaker 1: of UNSEP, says a toll on children is immeasurable. Then

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Speaker 1: in Ukraine for twenty five years, we have a steven

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Speaker 1: in in eight different locations there that are working directly

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Speaker 1: with children, children that are in bunker's, children that are fleeing.

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Speaker 1: Ukraine says more than thirteen hundred people have died in

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Speaker 1: the ten day surge in the city in San Francisco.

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Speaker 1: I'm at Baxter Bloomberg Daybreak, all right, and thank you.

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Speaker 1: By the US is making more moves to isolate Moscow.

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Speaker 1: Now it looks like Russia will lose its preferred to

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Speaker 1: trade a status with the United States, and Amy Morris

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Speaker 1: has details from our Bloomberg newsroom in Washington. President Biden

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Speaker 1: today is expected to call for an and to normal

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Speaker 1: trade relations with Russia, putting them in the same category

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Speaker 1: as Cuba and North Korea. This clears the way for

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Speaker 1: increased tariffs on Russian imports. Biben can't unilaterally call for

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Speaker 1: the change in Russia's trade status. That authority lies with Congress,

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Speaker 1: where lawmakers are calling for that revocation, and sources tell

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Speaker 1: Bloomberg News the President's announcement will come alongside the Group

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Speaker 1: of Seven Nations and European Union leaders, which are also

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Speaker 1: calling for their own reveal of Russia's trade status. In Washington,

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Speaker 1: I'm Amy Morris, Bloomberg Daybreak, Amy, Thanks. The Senate has

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Speaker 1: passed a spending bill that includes security and humanitarian aid

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Speaker 1: for Ukraine. Let's get the details life from Bloomberg's Rnita Young.

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Speaker 1: Good morning, Rnita, Good morning, Nathan. Just over thirteen billion

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Speaker 1: dollars of that package goes to Ukraine for humanitarian and

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Speaker 1: security aid, and it's overwhelmingly approved under a bipartisan sense

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Speaker 1: of urgency. Now for Democrats, completing this bill in an

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Speaker 1: era of hyperpartisanship is a major achievement. The government had

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Speaker 1: been using Trump era program funding levels since the start

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Speaker 1: of the fiscal year on October one, and now domestic

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Speaker 1: agencies will see a nearly seven percent boost. The spending

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Speaker 1: bill now heads to President Biden's desk for his signature.

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Speaker 1: Live in New York, I'm Rene need a Young Bloomberg

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Speaker 1: Day break a right, reed, a thank you. Meantime, we're

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Speaker 1: seeing more financial companies cutting ties with Russia and cutting

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Speaker 1: JP Morgan and Bloomberge Charlie Pellett has a story. JP

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Speaker 1: Morgan is the biggest American bank and in a statement

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Speaker 1: it said it is currently engaging in limited activities. Goldman

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Speaker 1: was the first of the major Wall Street banks to

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Speaker 1: announce its intention to exit Russia, saying it is winding

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Speaker 1: down business there. The finance industry titans are joining those

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Speaker 1: in other sectors, including McDonald's and Coca Cola, that have

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Speaker 1: already said they will halt business operations in the nation

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Speaker 1: as the death toll rises in Ukraine and millions of

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Speaker 1: refugees fleet in New York. Charlie Pellett Bloomberg Daybreak, Charlie,

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Speaker 1: thank you. The war in Ukraine has Wall Street cutting

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Speaker 1: its forecasts for US economic growth. Let's get that story

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Speaker 1: live from Bloomberg's John Tucker, John Nathan. There's more than

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Speaker 1: one in three chance the US will fall into recession,

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Speaker 1: as according to economist at Goldman Sachs. The downgrade it

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Speaker 1: comes as US consumer prices store to a fresh forty

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Speaker 1: year high on rise and gasoline, food and housing costs

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Speaker 1: and inflations poised to rise even further following Russia's invasion

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Speaker 1: of Ukraine. Earlier this week, the Fed shares your own Pal,

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Speaker 1: reaffirmed plans to raise interest rates this month and commence

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Speaker 1: a series of rate hikes to curb high prices on

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Speaker 1: The International Monetary Fund also expected to cut its forecast

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Speaker 1: for global growth this year. Live in New York on

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Speaker 1: John Sucker Bloomberg Daybreak, A right, John, thank you. Let's

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Speaker 1: turn to China now. Our GDP figures are also in focus,

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Speaker 1: Premier Leka Chang and as it won't be easy to

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Speaker 1: hit the country's growth target this year. Bloomberry Daybreak Asia

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Speaker 1: anchor Bran Curtis has more the growth rate was set

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Speaker 1: at about five and a half percent this year. The

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Speaker 1: comments of difficulty reaching dot will likely stoke expectations that

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Speaker 1: more support is on the way, and Lee did say

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Speaker 1: that government spending will be beefed up. He spoke at

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Speaker 1: the end of the annual NPC meetings and said that

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Speaker 1: China can cope with the challenges. He said tax breaks

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Speaker 1: for company these will be like getting oxygen to mountain

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Speaker 1: climbers on Ukraine. The premier said, China supports the ceasefire

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Speaker 1: on Hong Kong. China supports the delay in elections to

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Speaker 1: combat the virus. Brian Curtis, Bloomberg Day Break Right, Brian,

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Speaker 1: thank you, and Leko Chang is also announcing an end

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Speaker 1: to his time as Chinese Premier. Li says he will

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Speaker 1: step down from his post after this year, pointing to

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Speaker 1: a coming reshuffle in the presidency of Shijin Ping. Well,

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Speaker 1: Nathan turning to Marcus. Now, we take a look at

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Speaker 1: some stocks on the move this morning. Shares A Doctor

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Speaker 1: sign or down and early trading. The Electronic Signature Company

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Speaker 1: forecast first quarter revenue that missed analysts estimate. Shares A

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Speaker 1: d D Global or down. Sources say the Rydhiling Company

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Speaker 1: halted a plan to listed shares in Hong Kong after

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Speaker 1: failing to appease regulator demands about user data. And Shar's

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Speaker 1: A Ribby and Automotive or down eleven percent. The electric

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Speaker 1: pickup maker says plans to accelerate production are being hit

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Speaker 1: by overstretched supply chains. And finally, Karen will turn to

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Speaker 1: the pandemic. Because it was two years ago today that

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Speaker 1: the World Health Organization labeled the COVID nineteen outbreak, a pandemic,

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Speaker 1: and now a new study says the global death toll

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Speaker 1: could be eighteen point two million, three times higher than

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Speaker 1: official records. Study from the University of Washington points to

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Speaker 1: a lack of testing and unreliable data to explain that discrepancy.

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Speaker 1: Straight ahead your latest local headlines and a check of sports.

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Speaker 1: This is Bloomberg. It sounds like so seven on Wall

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Speaker 1: Street where forty degrees in Central Park and dealing with

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Speaker 1: jam ups on the Harlem River Drive from a hundred

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Speaker 1: twenty all the way to the Willis Avenue Bridge, the

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Speaker 1: tales coming up in traffic. Michael Barr has more on

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Speaker 1: what's going on in New York and around the world. Michael,

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Speaker 1: thank you very much, Nathan. After two years with the

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Speaker 1: pandemic battering, New York City, Mayor Eric Adams is hoping

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Speaker 1: to steer his city toward an economic revival by luring

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Speaker 1: tourists back and beautifying the streets. You could feel the energy.

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Speaker 1: Someone called me this morning and they said, Eric, I

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Speaker 1: was at the Ferry. It was crowded. This is the

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Speaker 1: first week where I had to wait on an elevator

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Speaker 1: because it was so full. You know. The Democratic mayor

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Speaker 1: unveiled and economic development plan that he said would USh

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Speaker 1: you're in a new New York. The recovery is not

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Speaker 1: going to be about getting back to always. It's going

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Speaker 1: to get back to the new ways of doing things,

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Speaker 1: and we're going to take this opportunity to reboot our

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Speaker 1: entire system and make changes that are going to include

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Speaker 1: equity and inclusive inclusiveness. Mayor Adam's plan calls for helping

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Speaker 1: small businesses and cultivating specific industries, including pharmaceuticals, manufacturing, and

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Speaker 1: the legal pot industry. People in New Jersey are saying

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Speaker 1: new way to lawmakers attempts to allow self served gasoline.

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Speaker 1: Rector's Eagleton Pole found that seventy three of residents prefer

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Speaker 1: to have an attend to do it for them. Among women,

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Speaker 1: it's t shirts and magnets have sprung up saying Jersey

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Speaker 1: girls don't pump gas. It looks like North Korea tested

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Speaker 1: a new missile system. US Intelligence has now assessed that

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Speaker 1: to ballistic missile tests carried out late last month and

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Speaker 1: last week involved the relatively new intercontinental Ballistic missile system

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Speaker 1: North Korea is developing. A senior Administration official is calling

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Speaker 1: it a serious escalation by North Korea and serious violations

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Speaker 1: of UN Security Council rules. Jse small Lad has been

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Speaker 1: sentenced to one hundred fifty days in jail for lying

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Speaker 1: to police and a racist and homophobic attack that he

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Speaker 1: staged himself. Cook County Judge James Lynn tore into the

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Speaker 1: disgraced actor. He took some scamps off, some healing wounds,

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Speaker 1: and you've ripped him apart for one reason, you want

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Speaker 1: to make yourself more famous and for while it worked.

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Speaker 1: Judge Lynn also sentenced Smolette pay back one hundred twenty

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Speaker 1: dollars to the City of Chicago. The actor who played

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Speaker 1: Louise on TV Sesame Street has died. Emilio Delgado died

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Speaker 1: at the age of eighty one from blood cancer. Global

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Speaker 1: News twenty four hours a day on air and on

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Speaker 1: Bloomberg Quittake, powered by more than twenty seven hundred journalist

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Speaker 1: and analysts in more than a hundred twent two countries.

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Speaker 1: On Michael Bard, this is Bloomberg. Maintain Thanks Michael. Go

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Speaker 1: to six cent on Wall Street Times for the Bloomberg

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Speaker 1: Sports Upday, which on Stagehower, All right, if it's technically

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Speaker 1: the baseball walk out lasted ninety nine days, but all

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Speaker 1: in the off season. Though MLB had twice announced cancelation

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Speaker 1: of games, they'll play all one hundred and sixty two

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Speaker 1: and nobody lost the paycheck. Players expected to start showing

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Speaker 1: up in spring training today, mandatory by Sunday, exhibition games

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Speaker 1: next weekend and opening day April seven. It's expected the

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Speaker 1: Yankees will open at home against the Red Sox, with

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Speaker 1: the Mets in Washington. They compromise on some economic issues.

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Speaker 1: The minimum salary was raised, the playoffs expanded to twelve teams.

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Speaker 1: The National League will start using the d H. Other

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Speaker 1: rule changes could be coming next year. Commissioner Rod Manford

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Speaker 1: was asked his message the fans. The last few months

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Speaker 1: have been difficult. There's a lot of uncertainty. Um at

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Speaker 1: a point time when there's a lot of uncertainty in

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Speaker 1: the world. UM, sort of the way the process of

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Speaker 1: collected bargaining works sometimes. But I do apologize for it.

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Speaker 1: Man For says he hopes to have a better relationship

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Speaker 1: with players. Going forward, Nets and Sixers in Philly first

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Speaker 1: time since the Big Trade. Ben Simmons, yet to play

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Speaker 1: for Brooklyn, refused to play for the Sixers. He sat

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Speaker 1: on the Nets bench, got heckled James Harden engineered the

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Speaker 1: Nets traded him. He struggled, shot three of seventeen the

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Speaker 1: Nets one easily one nine to one hundred. Kevin Rant

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Speaker 1: scored twenty five point Seth Curry, who was part of

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Speaker 1: the trade at twenty four. Rangers, who lost the other

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Speaker 1: night five to two, lost six to in St. Louis,

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Speaker 1: All Islanders six nothing over Columbus, the hatrick for andrews Lee.

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Speaker 1: Devil's lost to Winnipeg to one. Heartbreak for St. John

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Speaker 1: Blewis seventeen point lead, lost by one to Villanova at

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Speaker 1: the Big East Tour. John Bloomberg Sports Thanks John SMP

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Speaker 1: futures right now are up nineteen point Stown futures up

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Speaker 1: a hundred sixteen. Nast At futures up sixty one points up.

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Speaker 1: Next Sploomberg's Tom mackenzie joins us from the Polish Ukrainian border,

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Speaker 1: where the refugee crisis is intensifying. This is Bloomberg. Good Morning, Bloomberg.

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Speaker 1: I'm Karen Moscow U s Dock Index Futures on the

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Speaker 1: rise this morning as investors eye cheaper evaluations even as

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Speaker 1: they remain concerned about global growth and at a raging

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Speaker 1: war in Ukraine and an impending right hike cycle at

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Speaker 1: the Federal Reserve. We checked the markets every fifteen minutes

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Speaker 1: throughout the trading day. On Bloomberg S and P Future

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Speaker 1: is up seventeen points down, Futures up a hundred three

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Speaker 1: nownsday Future is up fifty six Then Acts in Germany's

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Speaker 1: up nine tenths of upper sent the ten year treasury

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Speaker 1: up to thirty seconds. He had one point on seven percent.

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Speaker 1: They yield on the two year one point seven zero percent. Nine. Next,

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Speaker 1: seventy nine cents at one nine dollars eighty two cents

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Speaker 1: of barrel. Comic School is down three tenths per cent

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Speaker 1: or five dollars eighty cents at nine seventy ounce, the

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Speaker 1: one point one percent into thirty eight thousand, nine hundred dollars.

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Speaker 1: That's a Bloomberg business flash. Now here's Michael bar with

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Speaker 1: more on what's going on around the world. Muchael Karen,

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Speaker 1: thank you very much. Russian strikes have hit near airports

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Speaker 1: in western Ukraine as the military offensive widened and invading

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Speaker 1: troops kept up pressure on the capitol Kiv and the

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Speaker 1: besiege port city of Mariupol. Meanwhile, the Senate has given

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Speaker 1: final congressional approval to a thirteen point six billion dollar

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Speaker 1: emergency package of military and you manage in aid for

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Speaker 1: besiege Ukraine and its European allies. Major League Baseball reached

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Speaker 1: a new labor agreement with its players union and NINO

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Speaker 1: three month lockout. It paves the way for the season

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Speaker 1: to start next month. In the NBA the Nets and

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Speaker 1: Warriors one. In the NHL, the Rangers and Devil's Lost,

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Speaker 1: the Islanders and Bruins one. Global News twenty four hours

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Speaker 1: a day on air and on Bloomberg Quicktake, powered by

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Speaker 1: more than twenty seven hundred journalist and analysts in more

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Speaker 1: than one d twenty countries. I'm Michael barr In. This

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Speaker 1: is Bloomberg. Nathan. Okay, Michael, thank you very much. We're

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Speaker 1: at six nineteen now on Wall Street and live from

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Speaker 1: the Bloomberg Interacted Broker Studios. This is Bloomberg Daybreak. As

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Speaker 1: we are now into day sixteen of Russia's war in Ukraine,

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Speaker 1: which is of course sparked a major humanitarian crisis. Civilians

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Speaker 1: have been fleeing by the tens of thousands as Russia

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Speaker 1: intensifies its attacks in major cities and appears to be

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Speaker 1: spreading its offensive. Most of those refugees are heading to Poland.

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Speaker 1: And joining us now from the border city of Medica,

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Speaker 1: where many of those refugees are coming through, is Bloomberg's

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Speaker 1: Tom Mackenzie. Tom, good morning, thanks for joining us. I

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Speaker 1: know you've been in Medica for several days. Can you

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Speaker 1: describe how the situation looks right now? Yeah, Nathan. We're

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Speaker 1: continuing to see hundreds of refugees thousands crossing the border

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Speaker 1: here every single day. The vast majority are women and

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Speaker 1: children and some elderly as well, because of course most

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Speaker 1: of the men have been compelled to stay back in Ukraine.

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Speaker 1: Many of those men will be staying and fighting at

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Speaker 1: the Russian military. We know that top line numbers from

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Speaker 1: the United Nations have been updated. In terms of the

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Speaker 1: refugee flows, We've seen about two point three million Ukrainian

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Speaker 1: refugees across the border into European nations, and Poland, where

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Speaker 1: I am now, is the number one country in terms

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Speaker 1: of absorbing those refugee flows. Around one point five million

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Speaker 1: people have crossed into Poland alone, and this is a

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Speaker 1: country that's really stepping up its efforts to try to

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Speaker 1: put in place the logistics to absorb those blows. But

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Speaker 1: clearly it is a challenge for a country whether GDP

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Speaker 1: per capita is below the average for Europe. Over in Ukraine,

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Speaker 1: of course, we're hearing from officials in Keeth, the capital,

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Speaker 1: that as many as half of the population that capital

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Speaker 1: have now fled. An additional forty thousand have managed to

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Speaker 1: escape a number of cities in Ukraine thanks to the

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Speaker 1: humanitarian corridors, but many more remain trapped in cities, particularly

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Speaker 1: in the south of the country. Supports cities like Mariopold

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Speaker 1: by ball account, there is a humanitarian crisis now. Based

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Speaker 1: on what you're seeing right now, does it appear as

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Speaker 1: though those humanitarian corridors are holding up? Is the insurge

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Speaker 1: getting more intense now as we're getting reports that Russia

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Speaker 1: is offensive has moved on to western cities, closer to

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Speaker 1: places like Poland and Romania. There are a number of

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Speaker 1: reports that Russia is switching its military tactics to bombardment

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Speaker 1: of civil areas, and that of course is leading to

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Speaker 1: this very acute crisis, particularly as you say, in those

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Speaker 1: southern cities where it seems, for whatever reason, the Russian

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Speaker 1: military has been unwilling or unable to put in place

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Speaker 1: those humanitarian corridors to allow civilians to leave where they

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Speaker 1: have had no running water, no electricity for days now,

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Speaker 1: many of them of course, living in terrible conditions in basement.

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Speaker 1: I've been meeting speaking too refugees, of course, as they

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Speaker 1: crossed the Polish Ukrainian border. Here I met one mother

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Speaker 1: with two children, one a six year old. They've fled

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Speaker 1: from Kiev. She's an I T manager, her husband is

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Speaker 1: a property developer. They've been living in abasement for five days.

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Speaker 1: They finally made the decision to leave after the apartment

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Speaker 1: next to theirs was bombed and shelled. They came across

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Speaker 1: the border and now they hope to move on to Estonia,

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Speaker 1: where they forced hope to find safety and some sense

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Speaker 1: of peace. And of course the husband of this woman

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Speaker 1: who has spot, who remains in the capital, she says

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Speaker 1: he will probably end up taking up arms to fight

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Speaker 1: the military. And she said all her six year old

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Speaker 1: wants to do is go back to Ukraine, go to

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Speaker 1: school and have pizza Fridays with her father. Are the

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Speaker 1: people you've been speaking with, Tom, what are they telling

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Speaker 1: you that they need? We've heard about the huge amount

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Speaker 1: of humanitarian aid military support that's going into Ukraine. Do

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Speaker 1: the people who are fleeing the country feel like that's

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Speaker 1: enough that they're getting from the U? S? And Nita.

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Speaker 1: The one thing that seems coming through clearly when I

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Speaker 1: speak to two people here is they want to see

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Speaker 1: a no fly zone over Ukraine. And now NATO has

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Speaker 1: been very clear on this. The United States, of course,

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Speaker 1: President Joe Biden and the Prime Minister of the UK

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Speaker 1: Boris Johnson unified in saying that a no fly zone

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Speaker 1: is not appropriate at this stage because, of course they're

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Speaker 1: concerned that would drag them into an even wider conflict

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Speaker 1: with Russia. But that is something that you here echoed

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Speaker 1: by the refugees here, as they of course have come

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Speaker 1: from towns and cities that continue to face heavy Russian

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Speaker 1: bombard and they also speak of their gratitude for the

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Speaker 1: international response that the fact that here on the ground

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Speaker 1: of this border crossing there are volunteers from New Jersey,

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Speaker 1: from Israel, from across Europe who are helping to provide tents, clothing,

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Speaker 1: food and helping the logistical process of moving them from

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Speaker 1: this border to safety in towns and cities across Europe.

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Speaker 1: And there's a lot of gratitude for that response. But

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Speaker 1: they're saying, look, ultimately, they want to get back to

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Speaker 1: their country, they want to get back to their homes

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Speaker 1: and their families, and they feel a no fly zone,

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Speaker 1: additional military assistance is what's needed. It's an important story

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Speaker 1: to be told. Thanks for bringing it to us, Tom,

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Speaker 1: Thank you for this. Tom mackenzie Bloomberg News from Mordica, Poland,

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Speaker 1: one of the many border cities taking in tens of

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Speaker 1: that hundreds of thousands of refugees with the war in

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Speaker 1: Ukraine now into its third week back here in the US,

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Speaker 1: futures are pointing to a higher up and on Wall Street,

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Speaker 1: SMP futures have forty three points. Staff futures have three

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Speaker 1: twelve dance DEPP futures higher by a hundred fifty three

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Speaker 1: p and stay with us. You're listening to Bloomberg Daily

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Speaker 1: Bloomberg eleven three oh weather, partly sunny, low fifties today, rainy, wendy,

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Speaker 1: maybe a little wet snow early tomorrow with early highs

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Speaker 1: in the upper forties. Temperatures will fall through the afternoon. Sunny,

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Speaker 1: breezy for Sunday, upper thirties. Right now forty degrees. Broadcasting

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Speaker 1: live from the Bloomberg Interactive Broker Studio in New York,

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Speaker 1: Bloomberg E Loving Freedom to Washington, d C, Bloomberg to Boston,

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Speaker 1: around the globe to Bloomberg Business App and Bloomberg Radio

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Speaker 1: dot Com. This is Bloomberg Daybreak six thirty on Wall Street.

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Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscower. Just

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Speaker 1: about three hours away from the open of US trading

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Speaker 1: time for the five things you need to know to

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Speaker 1: start your day, BRONTI you buy into right D Brokers

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Speaker 1: I b k R Investment Advisers switched to Interactive Brokers

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Speaker 1: k R dot com slash r I a up first.

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Speaker 1: It's day sixteen of the war. In Ukraine. Sirens heard

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Speaker 1: again and the capital Kiev. The mayor of the city

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Speaker 1: says almost half of its citizens of flood since Russia's

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Speaker 1: invasion began. Cities in western Ukraine are now under attack

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Speaker 1: to taking fire from long distance strikes. In the south,

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Speaker 1: the city of Mariopol remains under siege. The death toll

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Speaker 1: there has reportedly passed, and Russia's adding more troops Karen.

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Speaker 1: President Vladimir Putin plans to send thousands of local fighters

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Speaker 1: from the Middle East, along with weapons, to join his

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Speaker 1: forces in Ukraine. That would point to an escalation. At

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Speaker 1: the same time, Interfacts is reporting putincies some positive shifts

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Speaker 1: in talks with Ukraine. Well back in d C. Nathan,

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Speaker 1: the President Biden has set to call for an end

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Speaker 1: to normal trade relations with Russia. Sources say the plans

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Speaker 1: would allow for increased tariffs on Russian imports, but a

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Speaker 1: Moscow on par with Cuba and North Korea. At the

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Speaker 1: same time, the Senates passed a spending bill that includes

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Speaker 1: security and humanitarian aid for Ukraine. Let's get the details

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Speaker 1: live from Bloomberg Junia Young, Ranita Nathan. Just over thirteen

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Speaker 1: billion dollars of that package goes to Ukraine for humanitarian

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Speaker 1: and security aid, and it's overwhelmingly approved under a bipartisan

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Speaker 1: sense of urgency. For Democrats, passing this bill in an

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Speaker 1: era of hyperpartisanship is a major achievement. The government had

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Speaker 1: been using Trump era program funding levels since the start

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Speaker 1: of the fiscal year on October one, and now domestic

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Speaker 1: agencies will get a nearly seven percent boost. The spending

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Speaker 1: bill now heads to President Biden's desk for his signature.

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Speaker 1: Live in New York, I'm Rnita Young, Bloomberg Day Break.

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Speaker 1: All right, Rania, thank you on Wall Street today, the

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Speaker 1: war in Ukraine has one firm cutting his forecast for

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Speaker 1: US growth, and we get that story live from Bloomberg's

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Speaker 1: John Tucker, John Karen Gouldban Sacks warns there is a

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Speaker 1: more than one and three chance the US will slip

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Speaker 1: into a session in the next year. The firm is

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Speaker 1: cutting growth forecast because of the hip from rising oil

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Speaker 1: prices and other impacts from Russia's war in Ukraine. The

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Speaker 1: revision comes as US prices for everything from gasoline to

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Speaker 1: food and housing jumped to a forty year high, and

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Speaker 1: that's even before Russia's invasion. For this year, the firm

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Speaker 1: predicts GDP will slow to one point seven Live in

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Speaker 1: New York. I'm John Tucker, Bloomberg Daybreak, right, John, thank you,

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Speaker 1: and that's the five things you need to notice start

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Speaker 1: your day, brought to you by Interactive Brokers. Straight Ahead,

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Speaker 1: your latest local headlines plus the check of sports. And

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Speaker 1: this is Bloomberg. All right, Karen, thank you. It is

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Speaker 1: six Wall Street, forty degrees in Central Park, the Cross

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Speaker 1: Brox Expressways, Jim both Ways at Westchester Avenue. Details coming

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Speaker 1: up in traffic. First, Michael Barr with what else is

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Speaker 1: going on in New York and around the world. Michael,

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Speaker 1: thank you very much. Nathan. New York Mayor Eric Adams

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Speaker 1: unveiled his economic development plan for the city. Adam says

430
00:23:56,760 --> 00:23:59,760
Speaker 1: it would usher in a New New York. During his

431
00:23:59,840 --> 00:24:03,480
Speaker 1: news conference, the mayors saluted the truck drivers who delivered

432
00:24:03,520 --> 00:24:07,120
Speaker 1: goods to stores in the city, calling them essential workers.

433
00:24:07,760 --> 00:24:12,800
Speaker 1: You know, onions are not in your stores because someone

434
00:24:12,880 --> 00:24:18,440
Speaker 1: texts them over. They are your stores because those trucks

435
00:24:18,520 --> 00:24:21,880
Speaker 1: delivered them here. Mayor Eric Adams is hoping to steer

436
00:24:21,880 --> 00:24:25,080
Speaker 1: his city toward an economic revival by luring tourists back,

437
00:24:25,400 --> 00:24:30,320
Speaker 1: beautifying the streets, and embracing New York's looming legal pot industry.

438
00:24:30,400 --> 00:24:34,080
Speaker 1: The Biden administration says to North Korean missiles launched in

439
00:24:34,119 --> 00:24:37,440
Speaker 1: recent weeks were in fact test firings of a new

440
00:24:37,480 --> 00:24:40,800
Speaker 1: long range i c b M. The tests were of

441
00:24:40,840 --> 00:24:43,920
Speaker 1: a missile reportedly larger than an I c b M

442
00:24:44,040 --> 00:24:47,240
Speaker 1: North three launched in two seventeen that was assessed to

443
00:24:47,240 --> 00:24:50,560
Speaker 1: be capable of reaching the United States. The administration warned

444
00:24:50,560 --> 00:24:54,280
Speaker 1: that a full range test could soon follow. President Biden

445
00:24:54,280 --> 00:24:57,320
Speaker 1: gave a pep talk to the Democratic National Committee. Biden

446
00:24:57,359 --> 00:24:59,840
Speaker 1: told his fellow Democrats they should be proud of what

447
00:25:00,040 --> 00:25:02,480
Speaker 1: have done to pull the nation out of the pandemic

448
00:25:02,520 --> 00:25:06,400
Speaker 1: this past year. Biden also says his administration has plans

449
00:25:06,440 --> 00:25:10,080
Speaker 1: for how to help with inflation, cost of gas and

450
00:25:10,160 --> 00:25:13,280
Speaker 1: food that's gone up. Well, let's cap the cost of

451
00:25:13,359 --> 00:25:18,480
Speaker 1: child carrots seven percent of a family's income. We can

452
00:25:18,520 --> 00:25:21,760
Speaker 1: afford to do this. The President also told Democrats to

453
00:25:21,800 --> 00:25:25,160
Speaker 1: promote record job growth and the infrastructure bill to win

454
00:25:25,480 --> 00:25:28,200
Speaker 1: in the mid terms. Actor Jesse small Lett has been

455
00:25:28,200 --> 00:25:30,399
Speaker 1: sentenced to one hundred fifty days in jail for a

456
00:25:30,520 --> 00:25:34,600
Speaker 1: hate crime hoax in twenty nineteen. The former Empire star

457
00:25:34,680 --> 00:25:36,800
Speaker 1: will have to pay back a hundred twenty grand to

458
00:25:36,960 --> 00:25:40,840
Speaker 1: the City of Chicago. Cook County Judge James Lynn. He

459
00:25:40,920 --> 00:25:43,760
Speaker 1: acknowledge there are wonderful sides to you that they're very

460
00:25:43,840 --> 00:25:46,159
Speaker 1: giving and charitable and loving size to you, but you

461
00:25:46,200 --> 00:25:49,720
Speaker 1: have another side of you that is profoundly arrogant and selful,

462
00:25:49,880 --> 00:25:53,399
Speaker 1: selfish and narcissistant. Judge Lynn also sentenced small Lett to

463
00:25:53,440 --> 00:25:57,720
Speaker 1: probation for thirty months. The latest Senses undercounted Black, Latino

464
00:25:57,800 --> 00:26:00,040
Speaker 1: and Native Americans at higher rates than a dec it

465
00:26:00,119 --> 00:26:03,760
Speaker 1: to Go, potentially depriving those communities or financial resources and

466
00:26:03,800 --> 00:26:07,639
Speaker 1: political representation. That's according to new data released by the

467
00:26:07,720 --> 00:26:10,880
Speaker 1: US Census Bureau. Global News twenty four hours a day

468
00:26:10,920 --> 00:26:13,679
Speaker 1: on air and on Bloomberg Quick Take powered by more

469
00:26:13,720 --> 00:26:16,040
Speaker 1: than twenty seven hundred journalists and analysts more than a

470
00:26:16,080 --> 00:26:20,080
Speaker 1: hundred twenty countries. Michael Barr, this is Bloomberg, Nathan, Thanks Michael.

471
00:26:24,800 --> 00:26:27,800
Speaker 1: Just about six thirty six on Wall Street. John Stash

472
00:26:27,840 --> 00:26:30,200
Speaker 1: are stepping up to bat for the Bloomberg Sports up game,

473
00:26:30,400 --> 00:26:32,840
Speaker 1: and they can get out the key and unlocked the

474
00:26:32,880 --> 00:26:35,640
Speaker 1: games for the baseball Stadium's new five year agreement ratified

475
00:26:35,720 --> 00:26:39,359
Speaker 1: unanimously by the owners of the player reps, approved to

476
00:26:38,560 --> 00:26:40,920
Speaker 1: twenty six to four, where Mets and Yankees were both

477
00:26:40,960 --> 00:26:44,240
Speaker 1: against it, the eight member union committee all against it.

478
00:26:44,320 --> 00:26:47,280
Speaker 1: Commissioner Rob Manford asked why there were a couple of

479
00:26:47,359 --> 00:26:49,159
Speaker 1: times lately when it looked like the lockout would end

480
00:26:49,160 --> 00:26:51,280
Speaker 1: and it didn't, and then when it looked like it

481
00:26:51,359 --> 00:26:54,520
Speaker 1: wasn't going to end, it did. Looking back at it,

482
00:26:54,600 --> 00:26:59,000
Speaker 1: I think we used deadlines effectively to move the process

483
00:26:59,080 --> 00:27:02,040
Speaker 1: at points and time when it needed to move. And

484
00:27:02,480 --> 00:27:06,520
Speaker 1: you know who else point to my view is there's

485
00:27:06,560 --> 00:27:08,600
Speaker 1: only one win, and that's getting an agreement. And we

486
00:27:08,680 --> 00:27:11,239
Speaker 1: got copening day and now April seventh of play all

487
00:27:11,359 --> 00:27:13,560
Speaker 1: hundred and sixty two games done, the playoffs and expanded

488
00:27:13,520 --> 00:27:16,600
Speaker 1: to twelve teams, and now begins the race to sign

489
00:27:16,680 --> 00:27:19,520
Speaker 1: still unsigned free agents. There are some good ones out there,

490
00:27:19,520 --> 00:27:22,800
Speaker 1: like Carlos Corea, Purdie Freeman, and Chris Bryant. James Harden,

491
00:27:22,840 --> 00:27:25,200
Speaker 1: wanted out of Brooklyn, got traded to Philadelphia, faced his

492
00:27:25,280 --> 00:27:28,960
Speaker 1: old team and shot three of seventeen nets, blew out

493
00:27:29,000 --> 00:27:33,160
Speaker 1: the Sixers. Kevin Uran twenty five point seth Curry, who

494
00:27:33,200 --> 00:27:35,840
Speaker 1: was part of the trade at twenty four Nixon Memphis

495
00:27:35,880 --> 00:27:38,240
Speaker 1: to Night Can Reddish, who the Knicks acquired in January.

496
00:27:38,280 --> 00:27:40,959
Speaker 1: We'll miss the rest of the Season's got a separated shoulder.

497
00:27:40,960 --> 00:27:43,439
Speaker 1: In St. Louis, the Blues three goals in the first period,

498
00:27:43,440 --> 00:27:46,040
Speaker 1: three more in the second beat the Rangers six two.

499
00:27:46,040 --> 00:27:48,400
Speaker 1: Devils lost to Winnipeg two to one. The Islanders all

500
00:27:48,440 --> 00:27:50,800
Speaker 1: over Columbus sixth and nothing. That hat trick for Ender's

501
00:27:50,880 --> 00:27:53,720
Speaker 1: Lee at the Garden. St. John's blew a seventeen point

502
00:27:53,760 --> 00:27:56,639
Speaker 1: lead questionable foul call with two seconds left in Villanova

503
00:27:57,040 --> 00:27:59,880
Speaker 1: made the two free throws and one sixty six sixty five.

504
00:28:00,000 --> 00:28:03,200
Speaker 1: Also the biggest Seaton Hall loss the Yukon John Stash

505
00:28:03,600 --> 00:28:07,760
Speaker 1: Bloomberg Sports John Thanks six thirty seven on Wall Street.

506
00:28:07,760 --> 00:28:09,320
Speaker 1: Time to take a look at stocks and some of

507
00:28:09,320 --> 00:28:11,560
Speaker 1: the names moving in the pre market. Look who walked

508
00:28:11,600 --> 00:28:14,600
Speaker 1: in this morning. Bloomberg Radio and TV markets correspondent Creed

509
00:28:15,400 --> 00:28:18,280
Speaker 1: is back pretty good morning, which's got your eye? Good morning,

510
00:28:18,359 --> 00:28:20,399
Speaker 1: Nathan decided to show up to work today. Which about

511
00:28:20,440 --> 00:28:24,080
Speaker 1: that new a new, a new concept. So putin here

512
00:28:24,160 --> 00:28:26,080
Speaker 1: coming out with some headlines. This is really important. There's

513
00:28:26,119 --> 00:28:28,960
Speaker 1: certain positive shifts and talks with Ukraine, so naturally the

514
00:28:29,000 --> 00:28:31,439
Speaker 1: movers are going to be those that are connected to Russia.

515
00:28:31,480 --> 00:28:34,240
Speaker 1: Let's start with one of those fertilizer companies here, mosaic

516
00:28:34,440 --> 00:28:37,560
Speaker 1: Umos is your taker, down one percent, See if industries

517
00:28:37,600 --> 00:28:41,160
Speaker 1: as well, down three percent. The takers just letters CF.

518
00:28:41,200 --> 00:28:43,720
Speaker 1: This is important because Russia is a major supplier of

519
00:28:43,840 --> 00:28:48,280
Speaker 1: fertilizer and a fertilizer components, especially for the American farming industry. Remember,

520
00:28:48,480 --> 00:28:51,520
Speaker 1: farm exports are the United States number one export to

521
00:28:51,560 --> 00:28:53,920
Speaker 1: the world, so very dependent. So when you see these

522
00:28:53,960 --> 00:28:56,240
Speaker 1: kind of headlines on positive shifts in Ukraine, you do

523
00:28:56,280 --> 00:28:58,920
Speaker 1: start to see those companies they've actually been rallying quite

524
00:28:58,920 --> 00:29:01,560
Speaker 1: a bit on these Ukraine tensions, uh that you do

525
00:29:01,640 --> 00:29:03,320
Speaker 1: actually see them take a little bit of a beat.

526
00:29:03,320 --> 00:29:05,600
Speaker 1: So once again Mosaic down one percent, see if industries

527
00:29:05,640 --> 00:29:07,959
Speaker 1: down three percent as well. We should talk about some

528
00:29:08,000 --> 00:29:10,000
Speaker 1: of the tech connection here, because one of the other

529
00:29:10,040 --> 00:29:14,680
Speaker 1: strategies the administration is using perhaps to kind of target Russia,

530
00:29:14,760 --> 00:29:17,600
Speaker 1: to sanction Russia, to perhaps put pressure on Russia to

531
00:29:17,960 --> 00:29:20,840
Speaker 1: pull back on this kind of war. You're seeing this

532
00:29:20,920 --> 00:29:22,840
Speaker 1: through through the tech industry trying to cut off their

533
00:29:22,880 --> 00:29:25,480
Speaker 1: supply from chips, trying to cut off their access to

534
00:29:25,600 --> 00:29:28,160
Speaker 1: social media companies, things like that. So you do see

535
00:29:28,200 --> 00:29:30,560
Speaker 1: that direct rate through once again on these headlines. You

536
00:29:30,600 --> 00:29:33,080
Speaker 1: do see n Video rallying and b d A up

537
00:29:33,120 --> 00:29:35,880
Speaker 1: two point six percent, a M D as well up

538
00:29:35,920 --> 00:29:38,400
Speaker 1: two point three percent, Apple A A p L as

539
00:29:38,400 --> 00:29:41,400
Speaker 1: your taker, they're up one point six percent, and Microsoft

540
00:29:41,440 --> 00:29:44,040
Speaker 1: as well m s FT up one point seven percent. Now,

541
00:29:44,080 --> 00:29:46,440
Speaker 1: in addition to that Russia connection, Nathan, you also have

542
00:29:46,440 --> 00:29:48,200
Speaker 1: the fact that these are the stocks that have been

543
00:29:48,280 --> 00:29:51,240
Speaker 1: hit the most hardest because of the war, and they're

544
00:29:51,240 --> 00:29:53,280
Speaker 1: also heavyweights in the index, so they tend to drag

545
00:29:53,280 --> 00:29:55,160
Speaker 1: the entire benchmark down. So some of this is just

546
00:29:55,440 --> 00:29:57,320
Speaker 1: bouncing back from the cell off we saw in the

547
00:29:57,320 --> 00:29:59,760
Speaker 1: past couple of days and perhaps adding to the rally

548
00:29:59,800 --> 00:30:01,880
Speaker 1: we're starting to see at the moment, but we've also

549
00:30:01,960 --> 00:30:05,360
Speaker 1: had some movement on the tech side with earnings, and

550
00:30:05,600 --> 00:30:08,240
Speaker 1: that really isn't adding to what we're seeing, is it. No,

551
00:30:08,360 --> 00:30:10,240
Speaker 1: it's really not. Oracle is going to be your your

552
00:30:10,360 --> 00:30:12,400
Speaker 1: name there O r c L is your ticker down

553
00:30:12,480 --> 00:30:15,080
Speaker 1: just shy of three percent. Now, they did give an

554
00:30:15,120 --> 00:30:17,600
Speaker 1: upbeat forecast for their cloud computing business, and that is

555
00:30:17,640 --> 00:30:20,040
Speaker 1: significant because they've been trying to expand we've been trying

556
00:30:20,040 --> 00:30:22,800
Speaker 1: to compete with Amazon and Microsoft in alphabet for ages.

557
00:30:23,160 --> 00:30:25,400
Speaker 1: But it's really their earnings that took the kke here.

558
00:30:25,440 --> 00:30:29,240
Speaker 1: They weren't able to post positive earnings, disappointing quarterly profit

559
00:30:29,320 --> 00:30:33,120
Speaker 1: and worse, slow in growth in their corporate finance applications. Remember,

560
00:30:33,360 --> 00:30:37,120
Speaker 1: less business investment means less profits for Oracle, and that's

561
00:30:37,120 --> 00:30:39,400
Speaker 1: really the message they sent last night. Those shares down

562
00:30:39,520 --> 00:30:41,560
Speaker 1: just shy three O. R c L is the ticker.

563
00:30:41,680 --> 00:30:44,920
Speaker 1: Nathan Alright, Bloomberg Radio on TV Markets correspondent Creety Goopta.

564
00:30:45,040 --> 00:30:46,840
Speaker 1: Great to have you back with us, Creaty, thanks for

565
00:30:46,840 --> 00:30:49,360
Speaker 1: being here, and just to expand on the headline that

566
00:30:49,360 --> 00:30:53,120
Speaker 1: Creaty mentioned in terms of the certain positive developments that

567
00:30:53,400 --> 00:30:58,960
Speaker 1: Russian President Vladimir Putin. He's said that to his Belarusian counterpart,

568
00:30:59,280 --> 00:31:03,000
Speaker 1: according to its transcript obtained by the inter Facts news service,

569
00:31:03,000 --> 00:31:05,920
Speaker 1: saying there are certain positive developments as far as negotiators

570
00:31:06,520 --> 00:31:09,120
Speaker 1: informed him when it comes to talks with Ukraine, and

571
00:31:09,160 --> 00:31:11,120
Speaker 1: we are starting to see that play out in the market,

572
00:31:11,120 --> 00:31:13,600
Speaker 1: with SMP futures now at fifty six points, a gain

573
00:31:13,640 --> 00:31:17,360
Speaker 1: of one point three NASTAC futures higher by two twenty two,

574
00:31:17,360 --> 00:31:19,400
Speaker 1: that's a gain of one point six percent. This is

575
00:31:19,440 --> 00:31:25,880
Speaker 1: Bloomberg Bloomberg eleven three oh Weather partly sunny, low fifties today, rainy, windy,

576
00:31:25,960 --> 00:31:28,720
Speaker 1: maybe some wet snow early tomorrow, up early highs in

577
00:31:28,720 --> 00:31:31,400
Speaker 1: the upper forties, with temperatures falling through the afternoon. By Sunday,

578
00:31:31,400 --> 00:31:33,840
Speaker 1: we'll only get into the upper thirties with wind right

579
00:31:33,840 --> 00:31:40,040
Speaker 1: now forty degrees. Markets, headlines and breaking news twenty four

580
00:31:40,080 --> 00:31:43,120
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business

581
00:31:43,160 --> 00:31:46,760
Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg Business

582
00:31:46,840 --> 00:31:55,760
Speaker 1: Flash and I'm Karen Moscow. And futures this morning are

583
00:31:55,800 --> 00:31:57,680
Speaker 1: on the rise. We get at the first word breaking news.

584
00:31:57,720 --> 00:32:02,320
Speaker 1: Das for today's morning call, and here is helldown a bill. Hey,

585
00:32:02,440 --> 00:32:04,760
Speaker 1: good morning, Karen U s you just spiked about twenty

586
00:32:04,760 --> 00:32:07,760
Speaker 1: minutes ago on a headline that Putin said there are

587
00:32:07,880 --> 00:32:11,560
Speaker 1: certain positive shifts and talks with Ukraine. Future is now

588
00:32:11,600 --> 00:32:14,120
Speaker 1: four d and thirty five point says he's gain sixty

589
00:32:14,160 --> 00:32:17,200
Speaker 1: five well, Nasdack futures hired by two hundred and fifty.

590
00:32:17,640 --> 00:32:20,560
Speaker 1: The US ten year at two percent, Gold is down fifteen,

591
00:32:20,600 --> 00:32:24,760
Speaker 1: Oil is rising, but bitcoin is little changed. European markets

592
00:32:24,760 --> 00:32:26,720
Speaker 1: are also in the green, led by three percent gains

593
00:32:26,800 --> 00:32:29,960
Speaker 1: in Germany and back in the US on the economic front.

594
00:32:29,960 --> 00:32:32,880
Speaker 1: At ten o'clock, Michigan sentiment after the bells and New

595
00:32:32,920 --> 00:32:37,200
Speaker 1: Oracle EPs disappointed, but it's cloud revenue forecast was bullish,

596
00:32:37,560 --> 00:32:41,680
Speaker 1: and Ribbing reported is down eleven percent in the pre market.

597
00:32:42,120 --> 00:32:44,720
Speaker 1: In other news, Goldman Sacks cut its US growth forecast

598
00:32:44,840 --> 00:32:47,440
Speaker 1: and wrapping things up, Amazon was rated a new bay

599
00:32:47,480 --> 00:32:51,520
Speaker 1: at Deutsche Bank with a price target of Live from

600
00:32:51,560 --> 00:32:54,560
Speaker 1: the first breaking news desk on Bill Maloney, care all right, Bill,

601
00:32:54,640 --> 00:32:56,880
Speaker 1: thank you, and to hear live breaking news of your Bloomberg.

602
00:32:56,960 --> 00:32:59,640
Speaker 1: I have squawk on your terminal, s U a w K.

603
00:32:59,800 --> 00:33:02,520
Speaker 1: That's Bloomberg business Flash now here's Michael Barr with more

604
00:33:02,560 --> 00:33:05,360
Speaker 1: on what's going on around the world. Michael Karen, thank

605
00:33:05,400 --> 00:33:08,480
Speaker 1: you very much. President Vladimir Putin says Russia plans to

606
00:33:08,520 --> 00:33:11,600
Speaker 1: send thousands of local fighters in the Middle East, along

607
00:33:11,640 --> 00:33:15,400
Speaker 1: with weapons, to join its forces in Ukraine. Russian strikes

608
00:33:15,480 --> 00:33:19,360
Speaker 1: have hit near airports in western Ukraine. Meanwhile, President Joe

609
00:33:19,440 --> 00:33:22,800
Speaker 1: Biden plans to announce that, along with the European Union

610
00:33:23,080 --> 00:33:25,880
Speaker 1: and the Group of Seven Countries, the US will move

611
00:33:25,920 --> 00:33:29,920
Speaker 1: to revoke Most Favored Nation trade status for Russia over

612
00:33:30,000 --> 00:33:32,840
Speaker 1: its invasion of Ukraine. Major League Baseball reached a new

613
00:33:32,920 --> 00:33:35,920
Speaker 1: labor agreement with its players union, ending a three month lockout.

614
00:33:36,200 --> 00:33:38,440
Speaker 1: It paves the way for the season to start next month.

615
00:33:38,640 --> 00:33:41,920
Speaker 1: In the NBA, the Nets and Warriors one. In the NHL,

616
00:33:41,960 --> 00:33:45,440
Speaker 1: the Rangers and Devils lost, the Islanders and Bruins one.

617
00:33:45,720 --> 00:33:47,960
Speaker 1: Global News twenty four hours a day on air and

618
00:33:48,120 --> 00:33:51,480
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven

619
00:33:51,560 --> 00:33:54,640
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.

620
00:33:54,840 --> 00:33:57,840
Speaker 1: Michael bar this is Bloomberg Kerran, right, Michael, thank you.

621
00:33:58,000 --> 00:34:00,680
Speaker 1: It is six nine on Wall Street. Returned to news

622
00:34:00,720 --> 00:34:03,160
Speaker 1: and science and Technology Now with the Bloomberg n j

623
00:34:03,320 --> 00:34:05,600
Speaker 1: I T STEM Report brought to you buy New Jersey

624
00:34:05,600 --> 00:34:09,160
Speaker 1: Institute of Technology and j I T makes infrastructure ready

625
00:34:09,160 --> 00:34:13,399
Speaker 1: graduates from civil engineers to transportation specialists. If it's infrastructure,

626
00:34:13,480 --> 00:34:15,520
Speaker 1: n j i T grads are building it. More at

627
00:34:15,600 --> 00:34:17,919
Speaker 1: n j I T dot e DU you know, here's

628
00:34:17,920 --> 00:34:20,960
Speaker 1: just making news and science, technology, engineering, and math. A

629
00:34:20,960 --> 00:34:23,200
Speaker 1: new study says that the global death tool from the

630
00:34:23,200 --> 00:34:27,680
Speaker 1: coronavirus could be eighteen point two million. That's three times

631
00:34:27,760 --> 00:34:31,120
Speaker 1: higher than official records suggest. The study from the University

632
00:34:31,120 --> 00:34:33,680
Speaker 1: of Washington points to a lack of testing and unreliable

633
00:34:33,760 --> 00:34:37,840
Speaker 1: data to explain the discrepancy. Facebook and Google face a

634
00:34:37,880 --> 00:34:41,400
Speaker 1: European Union antitrust probe and to possible collusion over the

635
00:34:41,400 --> 00:34:45,799
Speaker 1: way they operate online advertising services. The European Commission said

636
00:34:45,840 --> 00:34:48,640
Speaker 1: it's concerned that an agreement between the two tech giants

637
00:34:48,800 --> 00:34:53,040
Speaker 1: could squeeze competitors out of the market. And Japan's top automaker, Toyota,

638
00:34:53,080 --> 00:34:55,840
Speaker 1: will scale back domestic production over the next three months

639
00:34:55,840 --> 00:34:59,320
Speaker 1: because of a supply crunch and ships and other parts

640
00:34:59,320 --> 00:35:02,200
Speaker 1: that have slammed a global auto industry. Toyota says it

641
00:35:02,200 --> 00:35:05,680
Speaker 1: will cut back vehicle production in Japan by about in April,

642
00:35:05,920 --> 00:35:08,600
Speaker 1: by ten percent in May and five percent in June

643
00:35:08,960 --> 00:35:12,200
Speaker 1: compared to what was planned. Toyota had raised production targets

644
00:35:12,200 --> 00:35:14,680
Speaker 1: starting in April to catch up on lost production caused

645
00:35:14,680 --> 00:35:18,120
Speaker 1: by part shortages related to the COVID nineteen pandemic and

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Speaker 1: as a Bloomberg n j I t Stem report. Nathan Okay, Karen,

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Speaker 1: thank you. We're live from the Bloomberg Interactive Brokers studios

648
00:35:24,200 --> 00:35:26,160
Speaker 1: where it's six fifty on Wall Street. Time now to

649
00:35:26,239 --> 00:35:28,319
Speaker 1: check what's going on in DC as we continue to

650
00:35:28,360 --> 00:35:31,120
Speaker 1: follow fast moving headlines out of the war in Ukraine,

651
00:35:31,120 --> 00:35:34,840
Speaker 1: including Russian President Vladimir Putin citing what he calls positive

652
00:35:34,920 --> 00:35:38,520
Speaker 1: movement in talks with Ukraine. Some of the top stories

653
00:35:38,520 --> 00:35:41,040
Speaker 1: in our nation's capital include the Senate passing a one

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00:35:41,080 --> 00:35:43,840
Speaker 1: and a half trillion dollar government funding bill that includes

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00:35:43,960 --> 00:35:48,640
Speaker 1: Ukraine aid, President Biden rallying Democrats as crises threatened their

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00:35:48,640 --> 00:35:51,799
Speaker 1: majority in Congress, and a member of Congress launching a

657
00:35:51,840 --> 00:35:55,479
Speaker 1: probe into oil company buy backs and tax breaks. Also

658
00:35:55,600 --> 00:35:58,560
Speaker 1: making news, President Biden set to call for ending Russia's

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00:35:58,560 --> 00:36:01,640
Speaker 1: preferred trade status. Let's ring in Bloomberg Government reporter Emily

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00:36:01,680 --> 00:36:04,600
Speaker 1: Wilkins as we wait for that expected announcement in just

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Speaker 1: a few hours from the White House. Emily, I know,

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00:36:07,440 --> 00:36:10,000
Speaker 1: this has been something that Congress had been pushing forward

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00:36:10,000 --> 00:36:12,880
Speaker 1: to target Russia's trade status, and now it looks like

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Speaker 1: the President's on board. Yeah. I mean when the President

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00:36:16,719 --> 00:36:19,760
Speaker 1: initially raised concerns about it, it wasn't that he actually

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00:36:19,760 --> 00:36:23,440
Speaker 1: had concerns about shifting Russia's trade status. It's that he

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00:36:23,480 --> 00:36:25,880
Speaker 1: did want to take the time reach out to the

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00:36:25,920 --> 00:36:29,760
Speaker 1: European allies and have discussions with them, because obviously Europe

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Speaker 1: and Russia, UM, they have sort of a much different

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00:36:32,320 --> 00:36:35,399
Speaker 1: trade relationship than the US and Russia. Russia is far

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00:36:35,480 --> 00:36:38,759
Speaker 1: more dependent on Europe than it is for the US.

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00:36:38,840 --> 00:36:41,879
Speaker 1: And Biden said that, you know, there he's got, He's

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00:36:41,920 --> 00:36:44,440
Speaker 1: going to have the speech today, he's going to continue

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00:36:44,440 --> 00:36:48,640
Speaker 1: talking with European leaders of the European Union said last

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00:36:48,680 --> 00:36:52,800
Speaker 1: week that they're seeking to remove Russia's Most Favored Nations status,

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00:36:52,800 --> 00:36:55,960
Speaker 1: this trade status that is out there, um. And this

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00:36:56,040 --> 00:36:58,399
Speaker 1: is something that as you point out, Nathan, it's got

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00:36:58,440 --> 00:37:01,560
Speaker 1: bipartisans support. Congress is willing to do it. Uh. They

679
00:37:01,560 --> 00:37:04,800
Speaker 1: were just waiting for the President and now we're expecting

680
00:37:04,840 --> 00:37:07,680
Speaker 1: that announcement today that he is on board and ready

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00:37:07,719 --> 00:37:10,279
Speaker 1: to move forward. And it sounds Emily as though it

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00:37:10,320 --> 00:37:12,719
Speaker 1: was pretty important for the President to make sure European

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00:37:12,760 --> 00:37:15,759
Speaker 1: allies were on board as well, given how closely in

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Speaker 1: Trench the European economy is with Russia. Oh. Absolutely, and

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00:37:20,600 --> 00:37:23,200
Speaker 1: I mean this goes to what Biden has been doing

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00:37:23,280 --> 00:37:26,080
Speaker 1: the entire time when it comes to Ukraine, has been

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00:37:26,120 --> 00:37:29,239
Speaker 1: reaching out to Europe, making sure that other allies are

688
00:37:29,280 --> 00:37:32,200
Speaker 1: on board in Europe and around the world, and trying

689
00:37:32,239 --> 00:37:35,680
Speaker 1: to make sure that they're really maximizing the being on Putin.

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00:37:35,760 --> 00:37:38,319
Speaker 1: And that's not just the US leving these sanctions, but

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00:37:38,400 --> 00:37:41,600
Speaker 1: other nations as well. In the meantime, Emily, we had

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00:37:41,680 --> 00:37:44,200
Speaker 1: had an opportunity to hear last night from President Biden

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00:37:44,200 --> 00:37:48,800
Speaker 1: addressing the Party faithful at a time where the political

694
00:37:48,920 --> 00:37:53,239
Speaker 1: challenges are pretty deep for the Democratic Party, I think

695
00:37:53,239 --> 00:37:55,480
Speaker 1: it's safe to say, given where inflation is and now

696
00:37:55,840 --> 00:38:00,000
Speaker 1: a war in Europe on top of everything else. Absolutely,

697
00:38:00,080 --> 00:38:02,400
Speaker 1: I mean the inflation number, the seven point nine that

698
00:38:02,440 --> 00:38:05,279
Speaker 1: came out yesterday for the month of February and just

699
00:38:05,360 --> 00:38:08,520
Speaker 1: really continues to show that this inflation is not transitory.

700
00:38:08,680 --> 00:38:12,560
Speaker 1: You heard uh Start Territory Secretary Jenny Yellin say yesterday

701
00:38:12,640 --> 00:38:14,560
Speaker 1: that this is going to be something that's going to

702
00:38:14,600 --> 00:38:17,360
Speaker 1: be continuing for the rest of the year. And Americans

703
00:38:17,360 --> 00:38:20,160
Speaker 1: are not happy with Biden. You saw our recent Wall

704
00:38:20,200 --> 00:38:24,000
Speaker 1: Street Journal poll finding that fifty seven percent of voters

705
00:38:24,280 --> 00:38:28,239
Speaker 1: have remained unhappy with Biden's job performance. But Biden had

706
00:38:28,280 --> 00:38:31,560
Speaker 1: a really optimistic message yesterday when he spoke to the

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00:38:31,600 --> 00:38:35,400
Speaker 1: Democratic Democratic National Committee. He said that in terms of

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00:38:35,440 --> 00:38:39,320
Speaker 1: their economic agenda, that Democrats have been pushing the childcare,

709
00:38:39,400 --> 00:38:43,600
Speaker 1: the expanding healthcare, the lowering prescription drug prices. Biden pointed

710
00:38:43,600 --> 00:38:47,319
Speaker 1: out that these individual items do seem to resound with

711
00:38:47,520 --> 00:38:50,759
Speaker 1: Americans and are popular with voters, and if they can

712
00:38:50,800 --> 00:38:53,720
Speaker 1: just sort of keep that message on what they planned

713
00:38:53,760 --> 00:38:56,200
Speaker 1: to do, of course, then the tricky thing is how

714
00:38:56,239 --> 00:38:58,920
Speaker 1: do you buy that in with inflation. I'm actually in

715
00:38:58,920 --> 00:39:01,840
Speaker 1: Philadelphia right now with the House Democrats on their retreat,

716
00:39:02,120 --> 00:39:05,400
Speaker 1: and one thing that they said yesterday they really tied

717
00:39:06,040 --> 00:39:10,280
Speaker 1: the Social Economic Plan to the economy, saying, look, maybe

718
00:39:10,280 --> 00:39:13,319
Speaker 1: we can't lower inflation, but we can bring costs down

719
00:39:13,360 --> 00:39:15,359
Speaker 1: for people when it comes to the amounts they pay

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00:39:15,400 --> 00:39:18,440
Speaker 1: for medication, the amount they pay for childcare, the amount

721
00:39:18,440 --> 00:39:21,240
Speaker 1: they pay for housing. So maybe you know, we cannot

722
00:39:21,560 --> 00:39:24,239
Speaker 1: snap our fingers and bring down gas prices, but we

723
00:39:24,239 --> 00:39:28,280
Speaker 1: can offer Americans relief in other parts of their budget. Interesting,

724
00:39:28,320 --> 00:39:31,200
Speaker 1: so is it just about messaging or could we see

725
00:39:31,239 --> 00:39:34,560
Speaker 1: an even more ramped up push to get President Biden's

726
00:39:34,600 --> 00:39:38,600
Speaker 1: agenda moving forward on Capitol Hill, even if it's in pieces.

727
00:39:38,840 --> 00:39:41,000
Speaker 1: I mean, it has been a very tough go, as

728
00:39:41,040 --> 00:39:44,120
Speaker 1: you know, over the last several months, given the opposition

729
00:39:44,280 --> 00:39:48,040
Speaker 1: from Joe Mansion Kirsten Cinema. Where does it go from here?

730
00:39:48,880 --> 00:39:51,480
Speaker 1: Kay asked lawmakers about that, and all of them would

731
00:39:51,520 --> 00:39:54,319
Speaker 1: point out the fact that Senator Joe Mansion there are

732
00:39:54,480 --> 00:39:58,719
Speaker 1: things in that comprehensive Build Back Better proposal that Key supports.

733
00:39:59,040 --> 00:40:01,680
Speaker 1: And I was talking your day with the leader of

734
00:40:01,760 --> 00:40:05,759
Speaker 1: Progressive Democrats, chairwoman for Millagio, Paul and she seems very

735
00:40:05,800 --> 00:40:08,480
Speaker 1: open to having a far swim down package from what

736
00:40:08,560 --> 00:40:11,279
Speaker 1: Progressives were initially hoping for or from what they even

737
00:40:11,360 --> 00:40:14,160
Speaker 1: had last year, if they could just get something done.

738
00:40:14,480 --> 00:40:17,560
Speaker 1: So I think there is a willingness. It's difficult to say,

739
00:40:17,560 --> 00:40:21,239
Speaker 1: of course, how much momentum. Uh, you know, Democrats have

740
00:40:21,400 --> 00:40:23,279
Speaker 1: been trying to figure this out since the end of

741
00:40:23,360 --> 00:40:26,640
Speaker 1: last December, and they've kept getting uh, you know, had

742
00:40:26,680 --> 00:40:30,000
Speaker 1: to feel pivot to other items, most recently, of course,

743
00:40:30,040 --> 00:40:33,520
Speaker 1: the war in Ukraine. Bloomberg Government's Emily Wilkins with us

744
00:40:33,600 --> 00:40:36,799
Speaker 1: this morning from the City of Brotherly Love, Philadelphia, Pennsylvania,

745
00:40:37,120 --> 00:40:41,239
Speaker 1: where the Democratic Party retreat is underway. Read much more

746
00:40:41,280 --> 00:40:44,560
Speaker 1: about what's happening in the nation's capital Bloomberg dot Com

747
00:40:44,640 --> 00:40:48,360
Speaker 1: or the Bloomberg terminal. Listen to Bloomberg one in Washington,

748
00:40:48,400 --> 00:40:51,280
Speaker 1: Bloomberg ninety one and one oh five point seven FM

749
00:40:51,400 --> 00:40:54,400
Speaker 1: HD two, and a reminder to stay with Bloomberg Radio.

750
00:40:54,440 --> 00:40:59,200
Speaker 1: We are expecting that President Biden's announcement on actions against Ukraine.

751
00:40:59,200 --> 00:41:01,640
Speaker 1: It's set for ten fifteen Wall Street time. We'll have

752
00:41:01,680 --> 00:41:05,080
Speaker 1: it for you live on Bloomberg Radio. Karen, all right, Nathan,

753
00:41:05,120 --> 00:41:07,640
Speaker 1: thank you at sixty six on Wall Street. This is

754
00:41:07,719 --> 00:41:11,319
Speaker 1: Bloomberg Daybreak. March is Women's History Month, and every day

755
00:41:11,320 --> 00:41:14,680
Speaker 1: of this month we are celebrating significant moments in women's history.

756
00:41:15,040 --> 00:41:18,080
Speaker 1: Now with your installment for March eleventh, here's Bloomberg's trained

757
00:41:18,200 --> 00:41:21,200
Speaker 1: Young on this day in women's history. In two thousand six,

758
00:41:21,480 --> 00:41:25,440
Speaker 1: Michelle Bachelet is sworn in as Chile's first female president.

759
00:41:25,840 --> 00:41:29,560
Speaker 1: She's a lifelong socialist, former political exile, and ex prisoner

760
00:41:29,600 --> 00:41:33,720
Speaker 1: of the military dictatorship. Her rise highlighted a cultural shift

761
00:41:33,760 --> 00:41:37,239
Speaker 1: in a mostly Roman Catholic country that was long regarded

762
00:41:37,280 --> 00:41:40,840
Speaker 1: as among the most conservative in Latin America. It was

763
00:41:40,880 --> 00:41:43,399
Speaker 1: also a nation where at the time divorce was only

764
00:41:43,440 --> 00:41:46,839
Speaker 1: recently legalized and abortion was still illegal. At the time,

765
00:41:47,120 --> 00:41:51,040
Speaker 1: women were also often earning as much as forty less

766
00:41:51,040 --> 00:41:55,400
Speaker 1: than men with similar jobs. By contrast, especially, it was

767
00:41:55,440 --> 00:41:58,719
Speaker 1: an agnostic and a single mother of three. She was

768
00:41:58,760 --> 00:42:02,800
Speaker 1: also the first popular elected South American female president whose

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00:42:02,800 --> 00:42:07,320
Speaker 1: political career was established independently of a husband. She served

770
00:42:07,360 --> 00:42:11,000
Speaker 1: two separate terms as president of Chile. That's today in

771
00:42:11,040 --> 00:42:15,400
Speaker 1: women's history. I'm we need a young Bloomberg radio alrightned

772
00:42:15,440 --> 00:42:18,080
Speaker 1: to thank you, and we are watching futures this morning.

773
00:42:18,280 --> 00:42:21,319
Speaker 1: They are on the rise as investors take heart from

774
00:42:21,320 --> 00:42:24,480
Speaker 1: a report that some progress is being made and talks

775
00:42:24,480 --> 00:42:28,080
Speaker 1: between Russia and Ukraine. SMP futures of fifty two points.

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00:42:28,440 --> 00:42:31,600
Speaker 1: Now futures have three hundred sixty three and nasday futures

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00:42:31,600 --> 00:42:33,759
Speaker 1: have two hundred and seven that's up one and a

778
00:42:33,840 --> 00:42:36,720
Speaker 1: half percent, but in your treasuries down four thirday seconds.

779
00:42:36,920 --> 00:42:40,000
Speaker 1: The yield us at two percent, and Blomberg surveillance is

780
00:42:40,080 --> 00:42:43,359
Speaker 1: straight ahead. With Tom King, Jonathan Farrell, and Lisa Abramowitz

781
00:42:43,400 --> 00:42:46,920
Speaker 1: for Nathan Hager. I'm Karen Moscow, and this is Bloomberg.