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Speaker 1: Live from the Bloomberg Interactive Berger Studios. This is Bloomberg

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Speaker 1: day Break for Wednesday, January four three. Coming up this hour,

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Speaker 1: Kevin McCarthy's pushed to become House speaker suffers a historic setback.

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Speaker 1: F d X founder Sam Bankman Fried pleas not guilty

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Speaker 1: to criminal charges. We get more clues on FED policy

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Speaker 1: as minutes from the last meeting are released, and Kathy

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Speaker 1: wood It doubles down on Tesla yet again. Demand charged

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Speaker 1: with shooting up a New York subway pleads guilty. Plus

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Speaker 1: day one in the House for in Battle Long Island

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Speaker 1: Representative George Santos, Michael bar More, I'm John Stagehoward towards

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Speaker 1: the latest done de bar Hamlem the Rangers and Islanders

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Speaker 1: both Long Biggie's losses for St. John's and seton Hall.

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

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Speaker 1: eleven Trio, New York, Bloomberg one, Washington, d C, Bloomberg

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

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

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Speaker 1: Radio dot Com and via The Bloomberg Business add Good morning,

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Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. US Dock Index

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Speaker 1: futures are on the rise this morning and which the

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Speaker 1: markets all day long year on Bloomberg Right now, SMP

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Speaker 1: futures are up twelve points or three tens of a percent.

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Speaker 1: DAL future is up two tens of a percent or

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Speaker 1: sixty five points. At NAST day futures up half percent

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Speaker 1: or fifty one points, and the tenure Treasury is up

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Speaker 1: twelve thirty seconds. The yield there's three point six nine percent.

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Speaker 1: The yield on the two year at four point three

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Speaker 1: four percent nine Max Screwed Oil down two point six

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Speaker 1: percent out a dollar ninety six and seventy four dollars

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Speaker 1: ninety seven cents of barrel and Co mex School is

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Speaker 1: up one percent at eighteen sixty four unnounced Nathan. All right, Karen.

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Speaker 1: We'll have more on markets in a minute, but we

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Speaker 1: begin with political turmoil in Washington. After three rounds of voting,

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Speaker 1: House Republican leader Kevin McCarthy has failed to secure the speakership.

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Speaker 1: Amy Morris has the latest from our Bloomberg newsroom in Washington.

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Speaker 1: McCarthy continued negotiations overnight after the House abruptly adjourned when

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Speaker 1: three rounds of balloting failed to elect a Speaker of

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Speaker 1: the House. This is the first time in one hundred

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Speaker 1: years and the second time since the Civil War that

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Speaker 1: a House speaker was not elected on the first ballot.

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Speaker 1: McCarthy says he will not withdrawn, so I think from

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Speaker 1: the whole perspective, we talk's lawmakers will reconvene at noon

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Speaker 1: today for another round of votes to elect a speaker.

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Speaker 1: In Washington, I'm anymore is Bloomberg daybreak and Amy, thank

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Speaker 1: you on this bload at Kevin McCarthy has opened up

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Speaker 1: a rift with a GOP. Former acting White House Chief

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Speaker 1: of Staff mcmulvaney is co founder of the House Freedom Caucus.

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Speaker 1: He says Republicans who voted against McCarthy are being hammered

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Speaker 1: in conservative media outlets. They don't want to make it

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Speaker 1: look like the Republicans are complete idiots when it comes

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Speaker 1: to running the country, and that's sort of the message,

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Speaker 1: you know that coming out of the House today is

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Speaker 1: that we don't know how to govern and that's not

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Speaker 1: a good thing for our brand. And former White House

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Speaker 1: Chief of Staff mc mulvaney's our Washington corresponded Joe Matthew

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Speaker 1: on Bloomberg Sound On. Catch the show weekdays at five

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Speaker 1: pm Eastern on Bloomberg Radio. And here more of that

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Speaker 1: interview coming up shortly on Bloomberg Daybreak. I'm staying in Washington, Karen.

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Speaker 1: The White House is taking in its Southwest Airlines. The

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Speaker 1: Biden administration says it will hold Southwest responsible for massive

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Speaker 1: flight delays over the holidays. Bloomberg's Sad Baxter has that story.

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Speaker 1: The White House says Southwest Airlines failed its customers point blank.

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Speaker 1: White House spokeswoman Karine Jean Pierre says all cancelations December

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Speaker 1: were controllable. She says that is according to Southwest. Well,

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Speaker 1: every major airline space challenges from a pre Christmas storm,

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Speaker 1: that wreck that wrecked havoc on the aviation system. All

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Speaker 1: major airlines except for one, which is Southwest. Clearly we're

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Speaker 1: able to recover quickly, and she says the Department of

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Speaker 1: Transportation will make sure Southwest makes their customers whole. In

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Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak, all right, and

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Speaker 1: thank you all. It's shaping up to be one of

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Speaker 1: the highest profile white collar fraud cases and years the

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Speaker 1: case of collapsed crypto exchange f t X is now

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Speaker 1: making its way to the courtroom, and we get the

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Speaker 1: very latest Live with Bloomberg. Steve Rappaport, Good morning, Steve,

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Speaker 1: Good morning, Karen and Nathan. Disgraced f t X founder

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Speaker 1: Sam Bankman Fried pled not guilty to eight criminal charges,

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Speaker 1: including wire fraud and campaign finance violations. Authority say SPF

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Speaker 1: duped investors out of one point eight billion dollars before

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Speaker 1: his crypto company went belly up. Bankman Freed was released

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Speaker 1: on two hundred fifty million dollars bail after being extradited

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Speaker 1: to the US. Prosecutors want a judge to impost additional

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Speaker 1: bail conditions. Bankman Fried's trial is scheduled to begin in October,

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Speaker 1: Live in New York. I'm Steve Rappaport, Bloomberg Daybreak. Thanks Steve.

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Speaker 1: Turning to markets now. Wall Street began the new year

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Speaker 1: very much like two with losses Apple and Tesla led

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Speaker 1: stock slore with the SMP five hundred falling four tenths

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Speaker 1: percent yesterday. David Dietz is senior portfolio strategist at Pepack

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Speaker 1: Private Wealth Management. It is a new counter year, but

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Speaker 1: it's the same old problem. Continue to plague us here.

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Speaker 1: I think recession concerns are probably at the top, particularly

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Speaker 1: for equity investors, because uh, that could hurt corporate earnings,

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Speaker 1: and that's the lifeblob for stuck p pack Private Walt

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Speaker 1: David diet says he's concerned there is not concrete evidence

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Speaker 1: inflation has peaked. Nathan, and we see today how the

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Speaker 1: inflation picture is impacting views at the Federal Reserve. Minutes

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Speaker 1: of the Central banks December meeting are released this afternoon.

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Speaker 1: We get more from Bloomberg's vine down with inflation staging

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Speaker 1: a dramatic break at the FED lifted its benchmark interest

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Speaker 1: rate from zero to four point five percent over the

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Speaker 1: course of two By many accounts, the Fed will keep tightening,

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Speaker 1: lifting the federal funds rate to five percent or even higher.

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Speaker 1: Bloombrig economics as key drivers of the inflation rampage, such

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Speaker 1: as rising labor course, are alive and well fed. Jared's

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Speaker 1: your own Palace said, central bankers still have some ways

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Speaker 1: to go. Finny Dells Bloomberg day break. All right, Vinnie, thanks,

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Speaker 1: you got a couple inflation readings out of Europe this morning. Friend.

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Speaker 1: Inflation unexpectedly slowed in December, consumer prices rose six point

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Speaker 1: seven percent from a year earlier. That's after record increases

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Speaker 1: of seven point one percent in October November, and food

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Speaker 1: inflation in UK stores jumped to a record high thirteen

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Speaker 1: point three percent last month. And finally, Nathan cathy Wood

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Speaker 1: continues to double down on Tesla, the investor about more

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Speaker 1: than one hundred seventy six thousand shares the electric vehicle producer.

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Speaker 1: The purchase came yesterday as Tesla stock plunge twelve percent.

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Speaker 1: That's the biggest one day drop in more than two years.

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Speaker 1: Was Exchange traded funds have bought more than nine hundred

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Speaker 1: thirty eight thousand shares of Tesla since October, and this morning,

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Speaker 1: Tesla shares are up almost two percent in early trading.

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Speaker 1: Futures are up as well. Care and S and P

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Speaker 1: futures right now are up fourteen points. That's the game

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Speaker 1: of four tenth percent down. Futures are up seventy nine points,

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Speaker 1: NASAAC futures leading the games up fifty nine points or

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Speaker 1: a half percent, and the tenure treasury is up thirteen

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Speaker 1: thirty seconds. Yell three point six nine percent. Local headlines

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Speaker 1: and a check of sports just ahead This is Bloomberg

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Speaker 1: Sound six oh seven on Wall Street, fifty seven degrees

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Speaker 1: in Central Park. It's gonna be rainy this afternoon, mild

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Speaker 1: two with highs and the low sixties, getting down to

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Speaker 1: the upper forties tonight. Michael barrs here with more than

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

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Speaker 1: Good morning, My call you, Good morning. Nathan, the man

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Speaker 1: accused of shooting up in New York City subway car,

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Speaker 1: pleaded guilty yesterday. Frank James shout and moved to ten

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Speaker 1: passengers on the Manhattan bound N train in Brooklyn, April twelve.

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Speaker 1: He did not say why, but James conceded, while I

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Speaker 1: was on the train, I fired a weapon. James said

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Speaker 1: he did not intend to kill anyone, but told the

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Speaker 1: judge he was fully aware that deaths could occur as

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Speaker 1: a result of discharging a firearm in such an enclosed space.

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Speaker 1: Prosecutors revealed James had been planning the attacks since twenty seventeen,

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Speaker 1: and even conducted a trial run. He faced his life

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Speaker 1: in prison. It was day one Foreign battled Representative George

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Speaker 1: Santos in Congress, and it was far from a house

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Speaker 1: party when reporters shouted questions, Jimmy, you have the Long

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Speaker 1: Island Republican did not answer questions and once in the

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Speaker 1: House Chamber, sat by himself. Santo's admits he lied about

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Speaker 1: his resume, including his education and work. There are calls

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Speaker 1: for him to resign. The man suspected of killing four

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Speaker 1: University of Idaho students could arrive back in Idaho today.

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Speaker 1: Brian Coburger agreed to go voluntearily during a court hearing

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Speaker 1: in Pennsylvania yesterday. Major Christopher Paris is with the Pennsylvania

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Speaker 1: State Police. Arrangements currently are being made to deliver Coburger

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Speaker 1: back to Idaho, where he can have continued to process

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Speaker 1: and face these charges. The father of one of the victims,

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Speaker 1: Kay League Gonclave's, welcome Coburger's arrest. It felt like a

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Speaker 1: cloud was lifted off of us. It definitely provided belief

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Speaker 1: in comfort to know that things were progressing. Coburger faces

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Speaker 1: four counts of murder and one count of burglary. Emergency

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Speaker 1: crew sifted through the rubble of a building struck by

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Speaker 1: Ukrainian rockets, killing at least eighty nine Russian soldiers. It

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Speaker 1: happened in the town partially Russian occupied in the Eastern

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Speaker 1: Danesque region. A rule change by the FDA will allow

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Speaker 1: a broader range of pharmacies to fill prescriptions for the

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Speaker 1: abortion pill known as myth of pristone. The pharmacy must

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Speaker 1: meet certain requirements and prescriptions can only be written by

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Speaker 1: certified healthcare providers. Global News twenty four hours a day

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Speaker 1: on air and on Bloomberg Quick Tank, powered by more

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Speaker 1: than seven hundred journalists and analysts more than a hundred

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Speaker 1: twenty countries. Michael Barron, this is Bloomberg, Nathan, Thanks Michael

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Speaker 1: six o nine on Wall Street time for the Bloomberg

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Speaker 1: Sports Update, brought to you by Tri State out He

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Speaker 1: here's John stash Hour. All right, Nathan to mar Hamlin's

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Speaker 1: uncle says, his nephew and still fighting the Buffalo Bill

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Speaker 1: safety remains an intensive care and critical condition that Cincinnati

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Speaker 1: hospital his heart because apparently was suscitated not only on

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Speaker 1: the field Monday night, but again in the hospital. Reaction

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Speaker 1: to Hamlin yesterday from longtime Steelers coach Mike Tomlin, that's

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Speaker 1: a really the whole thing for me being a Pittsburgher

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Speaker 1: and that young man being a Pittsburgh I've known that

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Speaker 1: guy probably says he was about twelve. Um just got

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Speaker 1: a lot of respect and love for him as a

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Speaker 1: human being, his commitment to the pursuit of his goals,

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Speaker 1: and drain their kids. You need to be reports the

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Speaker 1: NFL wanted the game to be resumed. The league insisted

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Speaker 1: that wasn't the case. In the NFL did announce the

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Speaker 1: game will not be resumed this week. Bills and Bengals

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Speaker 1: will play their scheduled games Sunday, which makes it scene

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Speaker 1: they'll end up playing one fewer game and the a

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Speaker 1: f C seedings was determined by win percentage. Carolina Hurricanes

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Speaker 1: came to the Garden having won eleven a row, didn't

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Speaker 1: trail until kay Andre Miller go midway to the third period.

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Speaker 1: The Rangers scored three in the third and they beat

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Speaker 1: the Keynes five to three. Of The Islanders won six

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Speaker 1: two at Vancouver. Matthew bars All had a goal to

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Speaker 1: assist Nix her home tight for San Antonio and the

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Speaker 1: Nets bring their twelve game winning streak to Chicago. St.

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Speaker 1: John's Blue Ella lost at home to Marquette in nineties

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Speaker 1: six to eighty five in the Red Storm. Now just

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Speaker 1: one and four in the Big East. We're seeing Hall

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Speaker 1: lost like twenty two at Crainton, Yankees of hired Brian

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Speaker 1: sabe into assist GM Brian Cashman. Sabian started his career

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Speaker 1: in the Yankee front office and then spent thirty years

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Speaker 1: with the San Francisco Giants. I'm John Stash Bloomberg Sports John.

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Speaker 1: Thanks Bloomberg. Sports Report was brought to you by Audie.

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Speaker 1: Don't let someone else drive off in the Audi model.

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Speaker 1: You've always wanted to visit your local Tri state Audie

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Speaker 1: dealer to get behind the wheel of yours today, or

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Speaker 1: visit Autie Offers dot com for more information. What comes

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Speaker 1: next in the speakership fight on Capitol Hill. We'll get

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Speaker 1: insights on that live from Wendy Schiller, director of the

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Speaker 1: Topman Center at Brown University. That's just ahead. First SMP

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Speaker 1: futures are higher by fourteen points, staff futures up eighty

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Speaker 1: five NASTACK futures up sixty three points. The tenure treasury

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Speaker 1: is up thirteen thirty seconds, yield three point six eight percent,

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Speaker 1: Nimex crew down two and a half percent at seventy

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Speaker 1: oh for a barrel. Comics gold up one point one

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Speaker 1: percent at eighteen sixty six ten announced, and the Euro

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Speaker 1: trading at one point zero six one nine against the dollar.

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Speaker 1: Live from coast to coast, from New York to San Francisco,

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Speaker 1: Boston to Washington, d C. Nationwide on Sirius xamp, the

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Speaker 1: Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak.

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Speaker 1: Good morning, I'm Nathan Hager. As a fight over leadership

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Speaker 1: on Capitol Hill continues later this afternoon, Kevin McCarthy is

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Speaker 1: vowing to fight on in his long held ambition to

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Speaker 1: become the next Speaker of the House, but that dream

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Speaker 1: has been deferred delta serious blow yesterday after McCarthy lost

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Speaker 1: three straight votes and failed to drum up any further

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Speaker 1: support from his GOP caucus in the process. For more,

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Speaker 1: we're joined by Wendy Schiller, director of the Tobbin Center

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Speaker 1: for American Politics and Policy at Brown University. It's great

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Speaker 1: to speak with you this morning, Wendy. You know, you're

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Speaker 1: such an expert on the history of American politics, so

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Speaker 1: I'm really curious to get your thoughts on where this

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Speaker 1: stands compared to other speakership fights that we've seen in

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Speaker 1: the past. As we been saying, it's been a hundred

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Speaker 1: years since the last time speakership vote was determined by

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Speaker 1: more than one ballot count. Yeah, and when that happened, um,

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Speaker 1: the size of fail government was nothing compared to what

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Speaker 1: it is today. And that's what we have to remember is,

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Speaker 1: you know, is the federal government literally too big to fail? Now?

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Speaker 1: In other words, you know, can we have can we

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Speaker 1: have dysfunction in the House of Representatives and still function

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Speaker 1: in terms of seneral government? And the answer is yes,

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Speaker 1: we can, but it will feed more power, ironically to

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Speaker 1: President Biden and the executive branch. We've seen this over

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Speaker 1: the last twenty years, that power has shifted when Congress

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Speaker 1: hasn't been able to get anything done to Presidents Bush, Obama, Trump,

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Speaker 1: and Biden, and the same thing will happen, which is

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Speaker 1: of course exactly the opposite of what the most uh

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Speaker 1: you know, rebellious of the Republicans want. They want to undermine, uh,

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Speaker 1: you know, destroy, bring down the federal government and Joe Biden.

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Speaker 1: But if they can't function, then the president will have

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Speaker 1: to function through executive or which only strengthens Joe Biden.

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Speaker 1: So all their efforts on remind the speakership actually go

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Speaker 1: awright against what they claim to profess to want to happen.

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Speaker 1: Very interesting perspective there. Does this also give more power

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Speaker 1: to the Democratic caucus within the House? Um? You know

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Speaker 1: you'd like to think so if you're a Democrat, But

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Speaker 1: I don't see how that gives you any more power

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Speaker 1: except on things like the debt ceiling for example. I mean,

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Speaker 1: if a new speaker, whether it's McCarthy, orether, it's Steve

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Speaker 1: Scalase for example, a second in command, who may emerge

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Speaker 1: to be the consensus choice, we don't know. Jim Jordan

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Speaker 1: has said, even though they professed to bore for him,

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Speaker 1: that people are going against McCarthy, that he doesn't want

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Speaker 1: the job, he's not interested in it. Um. It may

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Speaker 1: be turned to s glease And if they bring if

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Speaker 1: they could even bring a bill to the floor, which

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Speaker 1: you can do with a discharged position petition, which then

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Speaker 1: you would need Democratic votes to do. Uh, then the

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Speaker 1: Democrats would have to vote for an increase in the

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Speaker 1: debt ceiling. So yes, I mean in the end of

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Speaker 1: the day for the government of function. It looks like

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Speaker 1: in the next at least the next couple of months,

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Speaker 1: the Democrats may have to join with Republican leadership to

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Speaker 1: get must pass bills um through and they'll have an

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Speaker 1: insense to do that because they have a Democrat in

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Speaker 1: the White House. So there is a glimmer of hope

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Speaker 1: for functionality, but it's it's not going to be a

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Speaker 1: straightforward majority party rule. And we've seen we've seen the

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Speaker 1: seeds of this coming since the Tea Party came in.

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Speaker 1: John Bayner couldn't get it done, Paul Ryan couldn't get

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Speaker 1: it done. You know. It's McCarthy had really turned against Trump.

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Speaker 1: For example, after January six. Some people argue, uh, he

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Speaker 1: might have diminished kind of the energy that is fueling

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Speaker 1: the rebellious twenty But he didn't do that. He chose

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Speaker 1: to go the opposite direction and embrace Trump. And you

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Speaker 1: have to ask yourself, is he is he really taking

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Speaker 1: him out with a big mistake now because that has

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Speaker 1: come back to on him. Well, it's interesting because listening

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Speaker 1: to Kevin McCarthy after he failed in those votes yesterday,

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Speaker 1: he's saying now that he still has former President Trump's support,

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Speaker 1: what does that mean for his chances as he gets

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Speaker 1: ready for yet another round of voting later this afternoon.

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Speaker 1: The problem with that argument is that Trump's ability or

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Speaker 1: persuasion for some of something newly elected members is waiting.

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Speaker 1: You know, I think they see themselves as new Trumps.

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Speaker 1: They don't need Trump anymore. They've got the energy, they

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Speaker 1: got the voting base, they got the rhetoric, they've got

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Speaker 1: the roadmap. Uh, they don't need Trump per se. And

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Speaker 1: so I don't know that Trump's gonna have a lot

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Speaker 1: of influence moving forward with them. You know, they want

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Speaker 1: to bring down the federal government's apparatus. It's a huge,

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Speaker 1: huge infrastructure in the fell government, and they want things

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Speaker 1: to go back to the states, and they're gonna do

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Speaker 1: everything they can to you know, cripple the functioning of

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Speaker 1: the federal government and then show hey, look, country can

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Speaker 1: still function, States can still fill in the gap. We

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Speaker 1: don't need such a big federal government. But ironically, as

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Speaker 1: I just said, if they don't do what they need

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Speaker 1: to do, the president will have to resort to executive

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Speaker 1: orders to get things done, and that will only expand

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Speaker 1: the power or the federal government. Only about thirty seconds

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Speaker 1: left here, Wendy, how much longer do you think this

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Speaker 1: leadership fight lasts. It all depends on Kevin McCarthy. You know,

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Speaker 1: if he wants to stick it out and keep going,

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Speaker 1: keep going. Um, then you know he's going to make

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Speaker 1: them continuously vote against him. And if nobody else steps

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Speaker 1: up to say I'll be the alternative, then this can

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Speaker 1: keep going. And the longer it goes, you know, the

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Speaker 1: more delayed there is an investigating President Biden, which is

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Speaker 1: of course what Jim Jordan and other people want to do.

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Speaker 1: That's what they want to spend their time on. But

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Speaker 1: you know, if you want publicity for Hunter Biden's laptop,

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Speaker 1: you know, not being able to elect to speaker is

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Speaker 1: not a great strategy for getting there. Thanks as always, professor,

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Speaker 1: great to get your thoughts. Wendy Schiller, director of the

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Speaker 1: Topman Center for American Politics and Policy at Brown University.

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Speaker 1: Stay with Bloomberg Radio will continue following the leadership fight.

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Speaker 1: It gets back going noon, Wall Street Time on Capitol Hill.

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Speaker 1: How did the market open this morning? SMP futures are

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Speaker 1: up sixteen points, staff futures are up nine and nastatic

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Speaker 1: futures are higher by sixty nine points ten. Your treasuries

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Speaker 1: up thirteen thirty seconds, you'll three point six percent. This

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Speaker 1: is Bloomberg Markets, headlines and breaking news twenty four hours

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Speaker 1: a day at Bloomberg dot com, the Bloomberg Business Out

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Speaker 1: and at Bloomberg Quick Take, She's a Bloomberg Business lash

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Speaker 1: and I'm kared Moscow. And this updates brought to you

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Speaker 1: on the rise this morning. We checked the markets all

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Speaker 1: day long year on Bloomberg. Right now, SMP futures are

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Speaker 1: up buddy teen points, up about half percent now, futures

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Speaker 1: of three tens of upper cent or ninety eight points,

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Speaker 1: and NASTACK futures up seven tenths of uppercent or seventy

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Speaker 1: one points. The decks in Germany's up one and a

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Speaker 1: half percent. Ten year treasury of fourteen thirty seconds, you know,

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Speaker 1: three point six eight percent if they yield on the

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Speaker 1: two year four point three four percent. Nine X freude

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Speaker 1: oil is down two point four percent on a dollar

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Speaker 1: eighty seven at seventy six cents of barrel. Comex gold

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Speaker 1: up one point two percent, or twenty one dollars forty

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Speaker 1: cents at eighteen sixty seven sixty announced, the Euro one

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Speaker 1: point six one seven against the dollar, British pound one

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Speaker 1: point to zero six seven, the yun is at one

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Speaker 1: thirty point three four and bitcoin is up one point

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Speaker 1: one percent at about sixteen thousand, eight hundred fifty dollars.

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Speaker 1: And that's a Bloomberg business flash. Now here's Michael Barr

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Speaker 1: Withpore on what's going on around the world. Michael darre in.

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Speaker 1: The House will convene today as Republicans trag in who

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Speaker 1: elected speaker for the new Congress. Up leader Kevin mccarnthy,

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Speaker 1: came short of overcoming opposition from the far right of

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Speaker 1: his party after three votes. In the NBA at the

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Speaker 1: Celtic Wizards lost the hockey game of the Rangers and Islanders.

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Speaker 1: They won capitals, lost in not bills. DeMar Hamlin remains

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Speaker 1: a critical condition after a cardiac arrest during a Monday

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Speaker 1: night football game. Hamelin's uncle says that doctors produced the

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Speaker 1: amount of oxygen. Hamlin was seaving global news twenty four

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Speaker 1: hours a day on the air and on Bloomberg Quick

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Speaker 1: Take Power about more than seven d journalists man less

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Speaker 1: more than a hundred twenty countries. On Michael Barr, this

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Speaker 1: is Bloomberg, nath thank you, Michael. It is six on

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Speaker 1: Wall Street. I'm Nathan Hagar. This is Bloomberg Daybreak. And

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Speaker 1: House Republican leader Kevin McCarthy may be hoping the fourth

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Speaker 1: time is the charm in his bid to become the

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Speaker 1: next Speaker of the House. For the first time in

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Speaker 1: a hundred years, a House speaker has not been elected

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Speaker 1: on the first ballot, so lawmakers will be back at

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Speaker 1: it again Noon Wall Street Time today. Nick mulvaney, former

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Speaker 1: Wine House chief of staff and co founder of the

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Speaker 1: House Freedom Caucus, is weighing in on the speakership fight.

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Speaker 1: He spoke with our Washington correspondent Joe Matthew late yesterday.

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Speaker 1: Let's listen in. I know this is more complicated than

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Speaker 1: it being a so called freedom Caucus thing. What is

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Speaker 1: the problem with Kevin McCarthy. Oh, it's let's be clear,

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Speaker 1: it's not a freedom Caucus thing. The majority of the

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Speaker 1: Freedom Caucus voted for Kevin McCarthy three times today, So no,

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Speaker 1: a lot of these folks, not all of them. A

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Speaker 1: lot of these folks were post Kevin are in the

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Speaker 1: Freedom Caucus, but this is not a Freedom Caucus sort

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Speaker 1: of rebellion. I don't know what the objection is, you know.

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Speaker 1: And I talked to Ralph Norman, my congressman the South,

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Speaker 1: and I said, you know, why are you doing this?

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Speaker 1: Because well, we're losing our country. I'm like, okay, I

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Speaker 1: guess I agree with that, because you know, we're drowning

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Speaker 1: it dead. I'm like, I get that, But tell me

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Speaker 1: how you know not voting for Kevin McCarthy solves that.

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Speaker 1: And there's no response to that. There's just a lot

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Speaker 1: of personal animals that I don't understand, and that's not

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Speaker 1: a good reason. Sometimes you have to put your personal

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Speaker 1: preferences aside and you know, vote your head and not

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Speaker 1: your heart. And I just don't see them doing that

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Speaker 1: right now. Have you surprised Donald Trump couldn't turn this

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Speaker 1: around by working the phones a little bit more? Did

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Speaker 1: that turn into a liability? Yeah, I've heard he's actually

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Speaker 1: is on the phone a little bit. I don't think

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Speaker 1: it's a liability because I think he knows, you know,

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Speaker 1: I'm Trump still one of the best you know, gut

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Speaker 1: politicians I've ever met my entire life. Say what you

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Speaker 1: want to around him. You've got a lot of weaknesses,

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Speaker 1: but he's a prett good politician many but it runs

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Speaker 1: for president one time, and when the first time through

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Speaker 1: is going to prove that I think, Uh, he knows

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Speaker 1: that if McCarthy loses, Trump will also be one of

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Speaker 1: the losers here because regardless of the work that he

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Speaker 1: might or might have not done in the last twenty

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Speaker 1: four hours, everybody knows that he supports Kevin McCarthy. So

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Speaker 1: these people are actually thumbing their nose at the president.

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Speaker 1: And if McCarthy loses, it will be just another blow

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Speaker 1: to to Trump's reputation, into his credibility, and to his electability.

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Speaker 1: He was a huge took a huge hit in the

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Speaker 1: midterms and not being able to get his guy elected

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Speaker 1: speaker out and could get another blow that was just

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Speaker 1: convoldon his opponent. The Democrats pick up the phone tonight, Mick,

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Speaker 1: is there is there a strategy here for Hockeen, Jeffreys

429
00:22:29,240 --> 00:22:31,160
Speaker 1: and his early going to strike a deal that might

430
00:22:31,200 --> 00:22:34,479
Speaker 1: help their minority status. Yeah. I was over in the

431
00:22:34,520 --> 00:22:36,760
Speaker 1: Senate today. All the new members get sworn in in

432
00:22:36,800 --> 00:22:39,480
Speaker 1: the Senate because it's functioning properly, swore in the new members.

433
00:22:39,480 --> 00:22:40,879
Speaker 1: I start talk kind to some friends of mind it

434
00:22:40,960 --> 00:22:43,520
Speaker 1: from too into a Democrat on the train coming back,

435
00:22:43,560 --> 00:22:44,960
Speaker 1: and he just sort of looked at me and says, Nick,

436
00:22:45,000 --> 00:22:47,720
Speaker 1: when when are you guys gonna call us? Uh? And

437
00:22:47,760 --> 00:22:49,680
Speaker 1: I think that's that's what they're waiting for. Is they're

438
00:22:49,720 --> 00:22:52,600
Speaker 1: waiting for a phone call from some group of Republicans

439
00:22:52,720 --> 00:22:54,520
Speaker 1: is to uh strigae out a way to hammer out

440
00:22:54,520 --> 00:22:55,840
Speaker 1: a deal. We did this when I was in the

441
00:22:55,840 --> 00:22:58,720
Speaker 1: state legislature back in South Carolina, and we had somebody

442
00:22:58,720 --> 00:23:01,080
Speaker 1: who ran the speaker at about a third of the

443
00:23:01,119 --> 00:23:02,879
Speaker 1: support of the Republicans and kind of deal with the

444
00:23:02,920 --> 00:23:05,240
Speaker 1: Democrats and end up giving them a couple of committee

445
00:23:05,320 --> 00:23:07,399
Speaker 1: chairs to do it. So certain of the precedent is

446
00:23:07,440 --> 00:23:10,719
Speaker 1: there many many times over to cut deals to get speakerships.

447
00:23:10,720 --> 00:23:12,840
Speaker 1: And my guess is a team is is going to

448
00:23:12,880 --> 00:23:16,119
Speaker 1: answer his phone for anybody that wants to call him tonight. Incredible,

449
00:23:16,119 --> 00:23:18,920
Speaker 1: What a way to make a living, great conversation. MC

450
00:23:18,960 --> 00:23:21,199
Speaker 1: mulvaney is great to hear your voice again. Happy New Year,

451
00:23:21,240 --> 00:23:23,399
Speaker 1: Thanks for coming back in to talk to us. On

452
00:23:23,440 --> 00:23:25,600
Speaker 1: what I know is a very busy day, and it

453
00:23:25,640 --> 00:23:29,000
Speaker 1: could be another very busy day today when the voting

454
00:23:29,040 --> 00:23:31,920
Speaker 1: continues on Capitol Hill. That was former White House Chief

455
00:23:31,920 --> 00:23:35,639
Speaker 1: of Stack mcmulvaney speaking with our Joe Matthew on Bloomberg

456
00:23:35,760 --> 00:23:38,080
Speaker 1: Sound On. You can catch the show Bloomberg Sound on

457
00:23:38,119 --> 00:23:42,439
Speaker 1: weeknights on Bloomberg Radio five pm Wall Street Time, or

458
00:23:42,480 --> 00:23:47,240
Speaker 1: anytime if you download the Bloomberg sound On podcast wherever

459
00:23:47,320 --> 00:23:50,159
Speaker 1: you get your podcasts. We'll get a check of this

460
00:23:50,240 --> 00:23:53,600
Speaker 1: morning's top stories and local headlines, and a full check

461
00:23:53,640 --> 00:23:57,800
Speaker 1: of markets. Just ahead. First, Bloomberg Meteorologist Rob Carolyn with

462
00:23:57,880 --> 00:24:02,400
Speaker 1: today's weather forecast. Clouds today will actually see some rain

463
00:24:02,440 --> 00:24:04,600
Speaker 1: moving into the Tristead area of this safternoon as low

464
00:24:04,640 --> 00:24:06,320
Speaker 1: pressure comes up from the south. It's going to be

465
00:24:06,400 --> 00:24:09,160
Speaker 1: unusually warm ahead of that system. We're already mild this morning,

466
00:24:09,200 --> 00:24:12,240
Speaker 1: six to sixty five. Rain ends tonight. We're forty five

467
00:24:12,320 --> 00:24:15,440
Speaker 1: to fifty's more, mostly cloudy in fifty to fifty five,

468
00:24:15,760 --> 00:24:18,680
Speaker 1: turning partly Sunday. Friday high forty five to fifty. We'll

469
00:24:18,720 --> 00:24:22,040
Speaker 1: see some sunshine Saturday too. I'm Rob Caroline with your

470
00:24:22,040 --> 00:24:28,040
Speaker 1: three day forecast on Bloomberg eleven three oh broadcasting live

471
00:24:28,200 --> 00:24:32,159
Speaker 1: from the Bloomberg Interactive Broker's studio in New York, Bloomberg

472
00:24:32,200 --> 00:24:36,240
Speaker 1: eving freg to Washington, d C Bloomberg, On to Boston

473
00:24:36,359 --> 00:24:39,600
Speaker 1: Bloomberg one oh six one to San Francisco Bloomberg and No.

474
00:24:39,840 --> 00:24:43,080
Speaker 1: Sixty to the Country Sirius XM H one nine and

475
00:24:43,200 --> 00:24:47,120
Speaker 1: around the globe to Bloomberg Business and Bloomberg Radio dot Com.

476
00:24:47,520 --> 00:24:56,080
Speaker 1: This is Bloomberg Daybreak. We're going up to six thirty

477
00:24:56,080 --> 00:24:58,560
Speaker 1: on Wall Street. Good morning, I'm Nathan Hagar and I'm

478
00:24:58,600 --> 00:25:01,280
Speaker 1: Karen Moscow. We are just about three hours away from

479
00:25:01,320 --> 00:25:03,359
Speaker 1: the open of US training. It's time for the five

480
00:25:03,359 --> 00:25:05,359
Speaker 1: things that you need to notice start your day. And

481
00:25:05,359 --> 00:25:07,960
Speaker 1: at first we had to Washington, where a House Republican leader,

482
00:25:08,040 --> 00:25:11,879
Speaker 1: Kevin McCarthy, has failed to secure the speakership. The blow

483
00:25:11,920 --> 00:25:15,119
Speaker 1: to McCarthy and the GOP has drawn sharp criticism from

484
00:25:15,200 --> 00:25:19,240
Speaker 1: conservative media. Mcmilvany, former acting White House Chief of Staff

485
00:25:19,240 --> 00:25:21,680
Speaker 1: and co founder at the House Freedom Caucus, says it

486
00:25:21,720 --> 00:25:24,760
Speaker 1: could open the door for a Democrat friendly House speaker.

487
00:25:25,440 --> 00:25:27,840
Speaker 1: My guess is, if it's not Kevin, it will end

488
00:25:27,920 --> 00:25:31,240
Speaker 1: up being a compromise candidate more towards the Democrat side

489
00:25:31,240 --> 00:25:33,560
Speaker 1: of my party. More something like a thread outen and

490
00:25:33,600 --> 00:25:35,320
Speaker 1: I've used Thread's name. I U said, you know what

491
00:25:35,440 --> 00:25:36,879
Speaker 1: a smile on my face spread the friend of my

492
00:25:36,920 --> 00:25:39,600
Speaker 1: but he's a very moderate Republican. Mcmilvany spoke with our

493
00:25:39,640 --> 00:25:42,879
Speaker 1: Washington corresponded Joe Matthew on Bloomberg Sound on Catch the

494
00:25:42,880 --> 00:25:46,040
Speaker 1: program weekdays at five pm Eastern on Bloomberg Radio and

495
00:25:46,160 --> 00:25:49,040
Speaker 1: staying in Washington carrying the Widen administrations. Taking him at

496
00:25:49,040 --> 00:25:52,440
Speaker 1: Southwest Airlines. White House Press Secretary Krein John Pierre says

497
00:25:52,480 --> 00:25:55,840
Speaker 1: the Department of Transportation will hold Southwest accountable for holiday

498
00:25:55,840 --> 00:25:59,800
Speaker 1: flight delays tied to implement weather. All major airlines except

499
00:25:59,800 --> 00:26:04,800
Speaker 1: for one, which is Southwest. Clearly we're able to recover quickly.

500
00:26:05,080 --> 00:26:07,640
Speaker 1: Prist Secretary Karine John Pierre says the White House wants

501
00:26:07,640 --> 00:26:11,160
Speaker 1: Southwest to cover rebookings, hotel rooms, and other amenities well.

502
00:26:11,200 --> 00:26:13,040
Speaker 1: Turning to Crypto now, Nathan, it could be one of

503
00:26:13,040 --> 00:26:16,159
Speaker 1: the highest profile white collar fraud trials and years. The

504
00:26:16,240 --> 00:26:19,360
Speaker 1: case of collapsed Crypto Exchange ft X is now making

505
00:26:19,400 --> 00:26:21,040
Speaker 1: its way to the Core for Room and Bloomberg Steve

506
00:26:21,119 --> 00:26:23,520
Speaker 1: Rappaport joins us live at the Latest. Good Morning, Steve,

507
00:26:23,560 --> 00:26:26,280
Speaker 1: Good morning, Karen, and Nathan Sam. Bankman Freed will stand

508
00:26:26,359 --> 00:26:29,600
Speaker 1: trial in October on eight federal charges, including wire fraud

509
00:26:29,600 --> 00:26:33,040
Speaker 1: and campaign's finance violations. SPF pled not guilty to all

510
00:26:33,080 --> 00:26:36,160
Speaker 1: counts yesterday. Prior to his arrest last month, Bankman Freed

511
00:26:36,200 --> 00:26:39,199
Speaker 1: admitted to making mistakes but the night knowingly committing fraud.

512
00:26:39,480 --> 00:26:41,960
Speaker 1: Prosecutors say they expect to lay out their case against

513
00:26:42,000 --> 00:26:44,399
Speaker 1: the disgraced f t X founder in the next four weeks.

514
00:26:44,520 --> 00:26:48,080
Speaker 1: Bankman Freed also faces civil action from government regulators. Those

515
00:26:48,160 --> 00:26:50,480
Speaker 1: charges will likely be on hold while the criminal case

516
00:26:50,520 --> 00:26:53,400
Speaker 1: plays out Live in New York Times. Steve Rappaport, Bloomberg

517
00:26:53,480 --> 00:26:56,200
Speaker 1: day Break, Thank you, Stephen. Turning to markets, Wall Street

518
00:26:56,200 --> 00:26:59,600
Speaker 1: began the new year very much like two with losses.

519
00:27:00,000 --> 00:27:02,880
Speaker 1: Earned Gibbs, chief investment officer at main Street Asset Management,

520
00:27:02,880 --> 00:27:05,359
Speaker 1: says more down days for growth stocks could be on

521
00:27:05,400 --> 00:27:08,800
Speaker 1: the way as long as we're uncertain about the future.

522
00:27:09,000 --> 00:27:10,919
Speaker 1: It's those growth stocks that are going to take the

523
00:27:10,920 --> 00:27:13,359
Speaker 1: biggest hits, and your sense of sectors that are going

524
00:27:13,400 --> 00:27:16,440
Speaker 1: to tend to hold up better. Aaron Gibbs with main

525
00:27:16,480 --> 00:27:19,119
Speaker 1: Street asset management. Thanks growth. Stocks carry a lot of

526
00:27:19,200 --> 00:27:21,399
Speaker 1: risk at the moment. And that's the five things that

527
00:27:21,440 --> 00:27:23,640
Speaker 1: you need to notice start your day. We're also gonna

528
00:27:23,680 --> 00:27:26,680
Speaker 1: bring it this headline crossing the Bloomberg salesforce to cut

529
00:27:26,720 --> 00:27:30,520
Speaker 1: its workforce by about ten percent and a restructuring again

530
00:27:30,560 --> 00:27:33,280
Speaker 1: a just crossing the Bloomberg and futures this morning are

531
00:27:33,320 --> 00:27:36,159
Speaker 1: in the rise of SMP futures of about sixteen points

532
00:27:36,200 --> 00:27:39,120
Speaker 1: or four tensive uppercent down futures a three tensive upper

533
00:27:39,119 --> 00:27:41,800
Speaker 1: center one at its six points, and NASTAC future is

534
00:27:41,880 --> 00:27:44,719
Speaker 1: up six tensive upper cent or sixty five points. Ten

535
00:27:44,800 --> 00:27:47,560
Speaker 1: year treasury of fifteen thirty seconds. The yield is at

536
00:27:47,600 --> 00:27:50,200
Speaker 1: three point six eight percent yield on a two year

537
00:27:50,240 --> 00:27:53,200
Speaker 1: four point three four percent, and I'm ex screw oil

538
00:27:53,280 --> 00:27:56,320
Speaker 1: down two point four percent. Straight ahead your latest local

539
00:27:56,359 --> 00:27:59,520
Speaker 1: headlines plus a check of sports, and this is Bloomberg.

540
00:28:03,119 --> 00:28:05,080
Speaker 1: Thank you. Caring at six thirty one on Wall Street

541
00:28:05,080 --> 00:28:07,159
Speaker 1: of Michael Barre is here with those local headlines in

542
00:28:07,200 --> 00:28:09,520
Speaker 1: New York and from around the world. Good morning, Michael,

543
00:28:09,600 --> 00:28:12,639
Speaker 1: Good morning Nathan. The New York City native John smoke

544
00:28:12,680 --> 00:28:16,119
Speaker 1: canisters inside a pack Brooklyn subway car before opening flyer

545
00:28:16,200 --> 00:28:19,920
Speaker 1: on commuters last year. Is pleaded guilty to terrorism charges

546
00:28:20,160 --> 00:28:23,480
Speaker 1: and gun charges. Frank James appeared in federal court in

547
00:28:23,520 --> 00:28:26,800
Speaker 1: Brooklyn yesterday, faces up to life in prison in battle.

548
00:28:26,920 --> 00:28:30,520
Speaker 1: Congressman George Santos didn't answer any questions shouted by reporters

549
00:28:30,560 --> 00:28:32,840
Speaker 1: as he spent his first day in the House. Once

550
00:28:32,880 --> 00:28:36,160
Speaker 1: in the chamber, Santos sat alone. The Long Island Republican

551
00:28:36,240 --> 00:28:39,400
Speaker 1: Amidity lied about his resume while on the campaign trail.

552
00:28:39,840 --> 00:28:42,480
Speaker 1: During her briefing, White House Press Secretary you're in, Jean

553
00:28:42,480 --> 00:28:47,560
Speaker 1: Pierre commented on Santos, this is something that the House Republicans,

554
00:28:47,920 --> 00:28:50,600
Speaker 1: the Republican Conference, they will have to decide what they

555
00:28:50,640 --> 00:28:54,720
Speaker 1: owe to the American people in terms of standards and service.

556
00:28:54,800 --> 00:28:57,640
Speaker 1: That is something that they have to decide on. They

557
00:28:57,640 --> 00:29:00,560
Speaker 1: are growing calls for Santos to step down. The man

558
00:29:00,760 --> 00:29:04,000
Speaker 1: charge in the November murders of Fort University of Idaho students,

559
00:29:04,000 --> 00:29:07,000
Speaker 1: waived his right to an extradition hearing in Pennsylvania that

560
00:29:07,040 --> 00:29:09,880
Speaker 1: will speed up twenty eight year old Brian Coburger's transfer

561
00:29:10,040 --> 00:29:13,840
Speaker 1: to Moscow, Idaho, to stand trial. Colonel Robert Evanshick of

562
00:29:13,840 --> 00:29:16,720
Speaker 1: the Pennsylvania State police. My heart goes out to the

563
00:29:16,720 --> 00:29:21,280
Speaker 1: families of the victims, their friends, the community of Moscow,

564
00:29:22,160 --> 00:29:25,640
Speaker 1: and the University of Idaho. Police say they have link

565
00:29:25,720 --> 00:29:29,280
Speaker 1: Coburger to the crime scene through DNA. The Russian military

566
00:29:29,320 --> 00:29:33,360
Speaker 1: says unauthorized use of cell phones by Russian soldiers led

567
00:29:33,360 --> 00:29:36,440
Speaker 1: to a deadly Ukrainian rocket attack on the facility where

568
00:29:36,440 --> 00:29:39,520
Speaker 1: they were stationed. It raised the death toll from the

569
00:29:39,560 --> 00:29:42,760
Speaker 1: weekend attack to eight nine. Meanwhile, State Department spokesman Ed

570
00:29:42,800 --> 00:29:45,720
Speaker 1: Price says that the US will support Ukraine. We will

571
00:29:45,760 --> 00:29:48,720
Speaker 1: stand with Ukraine for as long as it takes. As

572
00:29:48,760 --> 00:29:52,720
Speaker 1: we have said, President Putin can choose to end this war. Today,

573
00:29:52,880 --> 00:29:55,440
Speaker 1: Global News twenty four hours a day on air and

574
00:29:55,600 --> 00:29:58,200
Speaker 1: on Bloomberg Quick Take, powered by more than seven hundred

575
00:29:58,240 --> 00:30:01,320
Speaker 1: journalists analysts more than unt He's Michael Bard. This is

576
00:30:01,320 --> 00:30:08,920
Speaker 1: Bloomberg Nather. Thanks Michael. Six thirty three on Wall Street

577
00:30:08,920 --> 00:30:10,600
Speaker 1: Time for the Bloomberg Sports that they brought to you

578
00:30:10,600 --> 00:30:13,080
Speaker 1: by Try State out of Here's John stash Out all right,

579
00:30:13,160 --> 00:30:16,720
Speaker 1: Nathan Buffalo Bill Safety. Damar Hamlin remains an intensive care

580
00:30:16,760 --> 00:30:19,440
Speaker 1: and critical condition. His uncle says, Hamlin had his heart

581
00:30:19,440 --> 00:30:22,479
Speaker 1: resuscitated twice Monday, night, once on the field and then

582
00:30:22,520 --> 00:30:25,040
Speaker 1: again in the hospital. Of the family released a statement

583
00:30:25,080 --> 00:30:27,959
Speaker 1: expressing its gratitude to the outpouring of support. Hamlin has

584
00:30:27,960 --> 00:30:30,080
Speaker 1: a go fund me for a toy drive and in

585
00:30:30,120 --> 00:30:33,120
Speaker 1: twenty four hours it went from having twenty dollars in

586
00:30:33,160 --> 00:30:36,200
Speaker 1: it too now more than five million. Rangers also the

587
00:30:36,200 --> 00:30:38,720
Speaker 1: hottest steven hockey Carolina had won eleven row brought a

588
00:30:38,800 --> 00:30:41,080
Speaker 1: lead of the third period at the Gardener. Timmi Panarin

589
00:30:41,120 --> 00:30:43,600
Speaker 1: tied the game thirty six seconds into the third and

590
00:30:43,600 --> 00:30:46,520
Speaker 1: then midway through sleep and tackle gets it back behind

591
00:30:46,640 --> 00:30:48,800
Speaker 1: that drives to the edge of the traffics Oi to

592
00:30:48,840 --> 00:30:51,560
Speaker 1: the far circle. Cockle took points of Bamma Javels last.

593
00:30:54,040 --> 00:30:57,440
Speaker 1: This could have been deflected as well for three Rangers

594
00:30:57,440 --> 00:30:59,960
Speaker 1: their first lead to the game ESPN direct DeAndre Miller

595
00:31:00,040 --> 00:31:02,080
Speaker 1: got the goal the Rangers at an empty net or

596
00:31:02,120 --> 00:31:05,160
Speaker 1: They beat the Hurricanes five to three, Islanders three goals

597
00:31:05,160 --> 00:31:07,120
Speaker 1: in both the second and third periods and a six

598
00:31:07,160 --> 00:31:10,400
Speaker 1: to win at Vancouver Nixon Nets, both playing Tonight Nets

599
00:31:10,440 --> 00:31:12,280
Speaker 1: going for a thirteenth win in a row. The season

600
00:31:12,320 --> 00:31:14,320
Speaker 1: began well for St. John's. They were eight, no, eleven

601
00:31:14,320 --> 00:31:17,200
Speaker 1: and one, but a fourth Strade Big East loss, Marquette

602
00:31:17,200 --> 00:31:19,680
Speaker 1: won the second half fifty five, thirty seven took the

603
00:31:19,720 --> 00:31:21,680
Speaker 1: game nineties six to eight and five, and Seaton all

604
00:31:22,080 --> 00:31:25,160
Speaker 1: lost by twenty two at Crayton. Bryan Sabian began his

605
00:31:25,200 --> 00:31:27,680
Speaker 1: career in the Yankee front office. He oversaw the drafting

606
00:31:27,720 --> 00:31:30,480
Speaker 1: of the Yankee Corps four that led them to four championships.

607
00:31:30,480 --> 00:31:32,840
Speaker 1: He then spent thirty years with the San Francisco Giants,

608
00:31:33,080 --> 00:31:36,080
Speaker 1: winning three World Series. Now Sabian returning to the Yanks

609
00:31:36,160 --> 00:31:38,320
Speaker 1: to be an adviser Here a long time g M.

610
00:31:38,440 --> 00:31:42,000
Speaker 1: Brian Cash, John Stash went Bloomberg Sports Nathan Okay, John,

611
00:31:42,040 --> 00:31:45,240
Speaker 1: thank you and the Bloomberg Sports Report was brought to

612
00:31:45,280 --> 00:31:48,280
Speaker 1: you by Audie. Don't let someone else drive off in

613
00:31:48,360 --> 00:31:51,840
Speaker 1: the Outye model you've always wanted. Visit your local Trice

614
00:31:51,920 --> 00:31:55,080
Speaker 1: State Audie dealer to get behind the wheel of yours today,

615
00:31:55,400 --> 00:32:01,520
Speaker 1: or visit Autie Offers dot com for more information. Six

616
00:32:01,600 --> 00:32:04,000
Speaker 1: thirty five on Wall Street, Bloomberg Radio is on the

617
00:32:04,000 --> 00:32:07,360
Speaker 1: air from San Francisco to New York, London to Hong Kong.

618
00:32:07,440 --> 00:32:09,400
Speaker 1: Let's check in with our global news team for some

619
00:32:09,440 --> 00:32:12,000
Speaker 1: of the top stories heard on our three hundred affiliate

620
00:32:12,120 --> 00:32:18,120
Speaker 1: radio stations around the world. I'm Steve Polist and X

621
00:32:18,160 --> 00:32:21,080
Speaker 1: to Los Angeles. We're talking about the Federal Trade Commission

622
00:32:21,160 --> 00:32:24,120
Speaker 1: saying there are no settlement talks underway to resolve its

623
00:32:24,160 --> 00:32:28,640
Speaker 1: opposition to a Microsoft takeover of Activision Blizzard um Corney

624
00:32:28,720 --> 00:32:32,000
Speaker 1: Donahoe on ktr H in Houston. Americans moving last year

625
00:32:32,040 --> 00:32:35,640
Speaker 1: were drawn to cheaper and less densely packed locations. I'm

626
00:32:35,680 --> 00:32:38,120
Speaker 1: Caroline Head Film Bloomberg d a B Radio in London.

627
00:32:38,160 --> 00:32:40,840
Speaker 1: We've been reporting on new figures showing food prices in

628
00:32:40,920 --> 00:32:45,560
Speaker 1: Britain rising by more than in the past year. I'm

629
00:32:45,680 --> 00:32:48,760
Speaker 1: Ed Corey on w w J in Detroit. I'm reporting

630
00:32:48,760 --> 00:32:52,840
Speaker 1: most automakers report sales today and those are some of

631
00:32:52,840 --> 00:32:56,200
Speaker 1: the stories. Are twenty seven hundred Bloomberg journalist and analysts

632
00:32:56,200 --> 00:32:59,240
Speaker 1: working on this morning around the world. It's sixty six

633
00:32:59,320 --> 00:33:03,400
Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion.

634
00:33:03,640 --> 00:33:07,160
Speaker 1: This editorial was written by the Bloomberg Editorial Board. During

635
00:33:07,160 --> 00:33:12,000
Speaker 1: the chaotic US withdrawal from Afghanistan, in the Biden administration

636
00:33:12,040 --> 00:33:15,920
Speaker 1: granted so called humanitarian parole to more than seventy thousand

637
00:33:15,960 --> 00:33:19,800
Speaker 1: Afghan evacuees to allow their entry into the US. This

638
00:33:19,880 --> 00:33:23,560
Speaker 1: designation expires after two years. Without an adjustment in their

639
00:33:23,560 --> 00:33:27,360
Speaker 1: immigration status, these Afghans will have to request asylum to

640
00:33:27,400 --> 00:33:31,520
Speaker 1: stay in the US, a lengthy, confusing, and expensive process.

641
00:33:31,640 --> 00:33:35,880
Speaker 1: The bipartisan Afghan Adjustment Act, which lawmakers introduced last August,

642
00:33:36,080 --> 00:33:39,040
Speaker 1: provides a common sense solution, but Congress left it out

643
00:33:39,040 --> 00:33:41,600
Speaker 1: of the four thousand page spending bill President Joe Biden

644
00:33:41,640 --> 00:33:44,440
Speaker 1: signed in the law last week. That isn't just cruel,

645
00:33:44,840 --> 00:33:48,400
Speaker 1: it's damaging to national security. Allowing this issue to slide

646
00:33:48,440 --> 00:33:54,040
Speaker 1: further will undermine American credibility and confirm accusations of US hypocrisy.

647
00:33:54,240 --> 00:33:58,600
Speaker 1: The eighteenth Congress should resolve this matter without delay. Anything

648
00:33:58,640 --> 00:34:01,840
Speaker 1: less would be a betrayal of America's allies and ideals.

649
00:34:02,240 --> 00:34:05,480
Speaker 1: This editorial was written by the Bloomberg Editorial Board. For

650
00:34:05,520 --> 00:34:08,200
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash

651
00:34:08,200 --> 00:34:11,160
Speaker 1: opinion or opi and go on the Bloomberg Terminal. These

652
00:34:11,280 --> 00:34:15,200
Speaker 1: has been Bloomberg Opinion. Listen for Bloomberg opinion editorials every weekday.

653
00:34:15,200 --> 00:34:17,640
Speaker 1: At this time. Terminal customers can read more at O, P,

654
00:34:17,800 --> 00:34:20,680
Speaker 1: I N GO. Another story we're watching is Another policy

655
00:34:20,719 --> 00:34:23,759
Speaker 1: shift at Twitter, one of many since Elon Musk's take over.

656
00:34:23,960 --> 00:34:26,160
Speaker 1: The company will relax a three year old ban on

657
00:34:26,239 --> 00:34:31,000
Speaker 1: political advertising to quote facilitate public conversation around important topics.

658
00:34:31,040 --> 00:34:33,520
Speaker 1: Further details haven't been announced yet. Twitter and Post that

659
00:34:33,560 --> 00:34:36,600
Speaker 1: ban in twenty nineteen, saying political message reach should be earned,

660
00:34:36,760 --> 00:34:40,400
Speaker 1: not bought. Also watching shares of Salesforce up two percent

661
00:34:40,520 --> 00:34:43,480
Speaker 1: in the pre market, The cloud software company says it's

662
00:34:43,520 --> 00:34:46,200
Speaker 1: going to cut about ten percent of its workforce in

663
00:34:46,200 --> 00:34:49,720
Speaker 1: a restructuring. Salesforce says it hired too many people leaning

664
00:34:49,719 --> 00:34:52,880
Speaker 1: into an economic downturn, and affected employees will get a

665
00:34:52,920 --> 00:34:57,319
Speaker 1: minimum nearly five months Pad futures hire. This morning, and

666
00:34:57,360 --> 00:35:04,440
Speaker 1: you're listening to Bloomberg Gaber Markets headlines and breaking news

667
00:35:04,520 --> 00:35:07,120
Speaker 1: twenty four hours a day at Bloomberg dot Com, the

668
00:35:07,200 --> 00:35:10,719
Speaker 1: Bloomberg Business apt and at Bloomberg Quick Take. He's a

669
00:35:10,760 --> 00:35:19,640
Speaker 1: Bloomberg Business Lash and I'm Karen Moscow Future is on

670
00:35:19,680 --> 00:35:21,600
Speaker 1: the rise this morning, and we're gonn the first Word

671
00:35:21,640 --> 00:35:24,719
Speaker 1: breaking news desk for today's morning call. Here's Vil Maloney, Bill,

672
00:35:24,760 --> 00:35:28,320
Speaker 1: Good morning, and good morning Karen. That's right, US futures

673
00:35:28,320 --> 00:35:30,440
Speaker 1: are pointing to a higher open without futures of a

674
00:35:30,480 --> 00:35:34,200
Speaker 1: hundred eighteen points, SIPs Game nineteen and NASDA futures rise

675
00:35:34,560 --> 00:35:37,520
Speaker 1: by eighty two. The US ten year old at three

676
00:35:37,560 --> 00:35:40,200
Speaker 1: point six eight percent, gold is hired by twenty one,

677
00:35:40,239 --> 00:35:42,919
Speaker 1: oil is trading in the red, and bitcoin is higher

678
00:35:43,000 --> 00:35:46,839
Speaker 1: by one percent. Hong Kong rose three percent overnight, while

679
00:35:46,880 --> 00:35:49,440
Speaker 1: up markets are firmly in the green this morning and

680
00:35:49,560 --> 00:35:51,960
Speaker 1: back in the US. On the economic front, at ten o'clock,

681
00:35:52,000 --> 00:35:55,000
Speaker 1: I s M Manufacturing and at two o'clock minutes from

682
00:35:55,000 --> 00:35:57,719
Speaker 1: the f O M Seed. In other news, Kathy Wood

683
00:35:57,719 --> 00:36:01,600
Speaker 1: bought more Tesla stock during yesterday's launch, and Salesforce is

684
00:36:01,640 --> 00:36:05,320
Speaker 1: cutting ten percent of its workforce. In the hedge fund space,

685
00:36:05,440 --> 00:36:09,040
Speaker 1: Chrispin O'Day's flagship hedge Fund searched a hundred and fifty

686
00:36:09,040 --> 00:36:11,960
Speaker 1: two percent last year, and wrapping things up back in

687
00:36:12,000 --> 00:36:15,200
Speaker 1: New York, Mountain and Schwab were both raised by overaclemeant Sacks,

688
00:36:15,480 --> 00:36:18,520
Speaker 1: Northern Trust was cut to neutral and Boston Beer was

689
00:36:18,560 --> 00:36:22,239
Speaker 1: cut to underperform well. Fred Jeffreys Live from the first

690
00:36:22,320 --> 00:36:25,160
Speaker 1: Breaking News bestcomb Bill Maloney care Right, Bill, thank you

691
00:36:25,200 --> 00:36:27,640
Speaker 1: to hear live breaking news over her Bloombergy Times Squawk

692
00:36:27,680 --> 00:36:30,239
Speaker 1: on your terminal SCU A w K and that's a

693
00:36:30,280 --> 00:36:33,080
Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on

694
00:36:33,160 --> 00:36:35,480
Speaker 1: what's going on around the world, Michael Karen. For the

695
00:36:35,520 --> 00:36:38,040
Speaker 1: first time in the one hundred years, members of Congress

696
00:36:38,200 --> 00:36:41,920
Speaker 1: failed to elect an outspeaker yesterday on Day one, the

697
00:36:41,920 --> 00:36:45,080
Speaker 1: man running for the speakership, Republican leader Kevin McCarthy, was

698
00:36:45,080 --> 00:36:50,879
Speaker 1: rebuffed three times. Emergency crews on sifted through Emergency crew

699
00:36:51,000 --> 00:36:54,520
Speaker 1: sifted through the rubble of a building struck by Ukrainian rockets.

700
00:36:54,920 --> 00:36:58,040
Speaker 1: Moscow says that it killed at least eighty nine Russian

701
00:36:58,120 --> 00:37:03,200
Speaker 1: soldiers baricked there, according to the Ukrainian Rockets. In the NBA,

702
00:37:03,320 --> 00:37:05,719
Speaker 1: the Celtics and Wizards lost in hockey, the Rangers and

703
00:37:05,760 --> 00:37:10,040
Speaker 1: Islanders won. The Capital's lost to note. Buffalo safety Damar

704
00:37:10,120 --> 00:37:14,000
Speaker 1: Hamlin remains in critical condition after suffering cardiac arrest during

705
00:37:14,000 --> 00:37:17,600
Speaker 1: a Monday night football game. Hamelin's uncle told CNN doctors

706
00:37:17,640 --> 00:37:21,160
Speaker 1: reduced the amount of oxygen. Hamlin was receiving global news

707
00:37:21,160 --> 00:37:23,560
Speaker 1: twenty four hours a day on air and on Bloomberg

708
00:37:23,600 --> 00:37:27,239
Speaker 1: Quick Take, powered by more than journalists analysts more than

709
00:37:27,640 --> 00:37:30,480
Speaker 1: twenty countries. I'm Michael bar this is Bloomberg. Karen al right,

710
00:37:30,560 --> 00:37:32,480
Speaker 1: Michael Barr, thank you at a six forty two on

711
00:37:32,520 --> 00:37:34,680
Speaker 1: Wall Street, and we turned to news now and science

712
00:37:34,680 --> 00:37:37,640
Speaker 1: and technology with a Bloomberg and j A t. Stem report.

713
00:37:37,880 --> 00:37:41,160
Speaker 1: And here's just making news in science, technology, engineering and math.

714
00:37:41,520 --> 00:37:44,600
Speaker 1: The European Union is moving toward requiring COVID tests for

715
00:37:44,640 --> 00:37:47,840
Speaker 1: travelers from China. EU health advisors have agreed on a

716
00:37:47,920 --> 00:37:52,360
Speaker 1: draft opinion that includes masking and preflight testing requirements. Several

717
00:37:52,360 --> 00:37:56,120
Speaker 1: European countries, including Italy and Spain, have already imposed testing

718
00:37:56,200 --> 00:37:59,960
Speaker 1: rules on flights from China. Meanwhile, China is pausing massive

719
00:38:00,080 --> 00:38:02,800
Speaker 1: investments aimed at building a ship industry to compete with

720
00:38:02,840 --> 00:38:05,839
Speaker 1: the US. Bloomberg News has learned that top officials are

721
00:38:05,840 --> 00:38:09,520
Speaker 1: discussing ways to move away from constantly subsidies that have

722
00:38:09,600 --> 00:38:13,719
Speaker 1: done little but encouraged graft and American sanctions, and a

723
00:38:13,760 --> 00:38:17,120
Speaker 1: steady slide in Apple shares has pushed the iPhone maker's

724
00:38:17,280 --> 00:38:20,399
Speaker 1: market value below two trillion dollars. Apple fell three point

725
00:38:20,440 --> 00:38:23,879
Speaker 1: seven percent yesterday, closing at its lowest since June one.

726
00:38:24,120 --> 00:38:27,359
Speaker 1: Concerns about iPhone supply and the important holiday quarter are

727
00:38:27,360 --> 00:38:30,240
Speaker 1: weighing on the stock exactly a year ago. Apple shares

728
00:38:30,360 --> 00:38:33,480
Speaker 1: briefly rallied to climb over three trillion dollars in market

729
00:38:33,560 --> 00:38:36,840
Speaker 1: value as the SNP five hundred hit a record high.

730
00:38:37,120 --> 00:38:39,720
Speaker 1: And that's the Bloomberg n j I t STEM report,

731
00:38:39,840 --> 00:38:42,040
Speaker 1: Nat that it seems like a while ago three trillion

732
00:38:42,080 --> 00:38:44,719
Speaker 1: dollar valuation, doesn't it? All right? Karen, thank you. We're

733
00:38:44,840 --> 00:38:48,200
Speaker 1: coming up to on Wall Street. Now it's time to

734
00:38:48,239 --> 00:38:51,200
Speaker 1: check what's going on in d C, where some of

735
00:38:51,239 --> 00:38:54,560
Speaker 1: the top stories include Kevin McCarthy's speakership hopes in doubt

736
00:38:54,560 --> 00:38:59,120
Speaker 1: after losing three votes. Also making news, George Santos isolated

737
00:38:59,280 --> 00:39:02,960
Speaker 1: in the House as resignation calls mount even before he

738
00:39:03,160 --> 00:39:07,120
Speaker 1: takes the oath of office, and President Biden promoting bipartisan

739
00:39:07,239 --> 00:39:10,720
Speaker 1: victories as divisions royal to gop let's bring in Boomberg.

740
00:39:10,719 --> 00:39:15,719
Speaker 1: Government reporter Emily Wilkins after a tumultuous day on Capitol Hill.

741
00:39:15,920 --> 00:39:19,239
Speaker 1: Emily getting ready for another long one today, getting head

742
00:39:19,280 --> 00:39:21,879
Speaker 1: is another long one today, Mentually prepared for another long

743
00:39:21,920 --> 00:39:25,520
Speaker 1: one the day after today. I'm just it's it's really

744
00:39:25,600 --> 00:39:30,040
Speaker 1: really a fascinating time, the level of chaos on the Hill,

745
00:39:30,200 --> 00:39:34,560
Speaker 1: the crisis that House Republicans are in really can't be overstated.

746
00:39:34,719 --> 00:39:38,640
Speaker 1: I mean, Nathan, no other legislation can move until they

747
00:39:38,680 --> 00:39:41,320
Speaker 1: figure out who the speaker is. And at this point

748
00:39:41,360 --> 00:39:44,880
Speaker 1: both sides of just really promised to dig in. Last night,

749
00:39:45,000 --> 00:39:48,720
Speaker 1: McCarthy was making phone calls with members, he was having

750
00:39:48,800 --> 00:39:51,400
Speaker 1: his allies meet with some of the holdouts, but it

751
00:39:51,520 --> 00:39:53,840
Speaker 1: just really did not seem like it made much of

752
00:39:53,840 --> 00:39:56,359
Speaker 1: a difference. We're not aware of anyone at this point

753
00:39:56,400 --> 00:39:59,000
Speaker 1: who's changed their mind, but McCarthy is going to have

754
00:39:59,080 --> 00:40:02,080
Speaker 1: to show some pro risk today. His supporters are willing

755
00:40:02,080 --> 00:40:04,880
Speaker 1: to stick behind him for vote after vote after vote,

756
00:40:04,920 --> 00:40:07,239
Speaker 1: but there needs to be some light at the end

757
00:40:07,239 --> 00:40:09,839
Speaker 1: of the tunnel today. And and that's really what we're

758
00:40:09,840 --> 00:40:13,040
Speaker 1: looking for in terms of whether McCarthy is going to

759
00:40:13,040 --> 00:40:15,640
Speaker 1: be able to start keeling off some of those holdouts

760
00:40:15,680 --> 00:40:20,440
Speaker 1: and cuttings and deals that will ultimately give him the speakership. Otherwise, eventually,

761
00:40:20,480 --> 00:40:22,799
Speaker 1: folks are going to get tired and other options are

762
00:40:22,840 --> 00:40:26,520
Speaker 1: going to start becoming more and more likely. Well, what

763
00:40:26,640 --> 00:40:29,279
Speaker 1: are some of those other options, Emily, I mean, you

764
00:40:29,320 --> 00:40:33,080
Speaker 1: mentioned some of the supporters sticking with Kevin McCarthy. They

765
00:40:33,080 --> 00:40:36,200
Speaker 1: include a couple of names that have been bandied about

766
00:40:36,239 --> 00:40:41,919
Speaker 1: as potential alternate picks, Steve Scalise and Jim Jordan's. Yeah, absolutely,

767
00:40:41,960 --> 00:40:45,200
Speaker 1: And I mean, look, there are questions right now about

768
00:40:45,400 --> 00:40:48,920
Speaker 1: who would be able to get to that magic number

769
00:40:48,920 --> 00:40:51,239
Speaker 1: of to eighteen to get to the number that they

770
00:40:51,280 --> 00:40:54,120
Speaker 1: would need to become speaker, And at this point, as

771
00:40:54,160 --> 00:40:56,879
Speaker 1: McCarthy pointed out, it's not really clear that anyone has

772
00:40:56,920 --> 00:40:59,600
Speaker 1: the ability to do that. Even though that there's a

773
00:40:59,640 --> 00:41:02,600
Speaker 1: lot of support in the caucus for say Steve Sclease,

774
00:41:02,640 --> 00:41:05,759
Speaker 1: who's the number two Republicans. There are certain members who

775
00:41:05,760 --> 00:41:07,640
Speaker 1: have told me that, you know, they feel like going

776
00:41:07,680 --> 00:41:11,160
Speaker 1: with anyone, but McCarthy is to give into this hostage

777
00:41:11,200 --> 00:41:14,720
Speaker 1: taking that's being done by a small fraction of their

778
00:41:14,760 --> 00:41:17,600
Speaker 1: of the House Republican conference, and so there's a lot

779
00:41:17,680 --> 00:41:20,719
Speaker 1: of concern about, I think, switching at this point. But look,

780
00:41:20,920 --> 00:41:23,719
Speaker 1: you could see Steve Scalasee, you could see Patrick McHenry.

781
00:41:23,800 --> 00:41:26,239
Speaker 1: I think at least deponic some of these folks who

782
00:41:26,280 --> 00:41:30,799
Speaker 1: have already had leadership positions within House Republicans. But I

783
00:41:30,800 --> 00:41:32,880
Speaker 1: think at this point it really does seem like a

784
00:41:32,960 --> 00:41:35,160
Speaker 1: huge question mark. I mean, I don't think Jim Jordan's

785
00:41:35,200 --> 00:41:37,520
Speaker 1: would be able to get to to eighteen. I don't

786
00:41:37,560 --> 00:41:39,359
Speaker 1: think a lot of the folks that the Freedom Caucus

787
00:41:39,400 --> 00:41:42,080
Speaker 1: would want to put forward could get to to eighteen. Um,

788
00:41:42,120 --> 00:41:44,680
Speaker 1: and then there's a huge question. You've heard about a

789
00:41:44,719 --> 00:41:48,160
Speaker 1: consensus candidate, but no real names have been put forward.

790
00:41:48,280 --> 00:41:52,040
Speaker 1: It's just not clear who Republicans could offer up that

791
00:41:52,080 --> 00:41:55,279
Speaker 1: would allow enough Democrats to come over vote for them

792
00:41:55,280 --> 00:41:58,960
Speaker 1: and eventually get to someone winning the speakership. Yeah, and

793
00:41:59,000 --> 00:42:01,200
Speaker 1: I guess there's still an open question about no matter

794
00:42:01,320 --> 00:42:04,680
Speaker 1: who gets to to eighteen, whether that person is going

795
00:42:04,719 --> 00:42:09,040
Speaker 1: to have any kind of power uh in the speakership.

796
00:42:09,120 --> 00:42:12,359
Speaker 1: I mean, it seems like the position is really diminished

797
00:42:12,400 --> 00:42:15,040
Speaker 1: at this point or is that just me? I mean,

798
00:42:15,160 --> 00:42:17,799
Speaker 1: to a certain extent, the power of the speaker is

799
00:42:17,840 --> 00:42:21,560
Speaker 1: the power for you to unify your members and hold

800
00:42:21,640 --> 00:42:25,040
Speaker 1: them together. And right now, even McCarthy, if McCarthy does

801
00:42:25,080 --> 00:42:28,000
Speaker 1: wind up getting to guess, his power to do that

802
00:42:28,120 --> 00:42:31,640
Speaker 1: has been very much diminished. These fringe members have seen

803
00:42:31,680 --> 00:42:33,960
Speaker 1: that they are able to really stop the process and

804
00:42:34,080 --> 00:42:36,880
Speaker 1: hold things up if just a couple of them stick together.

805
00:42:37,000 --> 00:42:40,400
Speaker 1: McCarthy's working with very narrow margins, the same frankly that

806
00:42:40,480 --> 00:42:43,759
Speaker 1: Pelosi worked with last time, and so yes, there's that.

807
00:42:43,880 --> 00:42:46,040
Speaker 1: And then of course there's the House rules. I know

808
00:42:46,080 --> 00:42:48,560
Speaker 1: those are super wonky. I'm not going to get into

809
00:42:48,560 --> 00:42:50,960
Speaker 1: the nitty gritty of them. But the thing about the

810
00:42:51,040 --> 00:42:53,800
Speaker 1: rules is that the rules dictate who has the power

811
00:42:53,840 --> 00:42:56,080
Speaker 1: in the Chamber. And that's what this all boils down

812
00:42:56,080 --> 00:42:58,640
Speaker 1: to these rank and file members. They want to have

813
00:42:58,680 --> 00:43:01,800
Speaker 1: more power, they want to have more say some folks

814
00:43:01,880 --> 00:43:04,440
Speaker 1: argue that that's a perfectly good thing, but the fact

815
00:43:04,440 --> 00:43:06,520
Speaker 1: of the matter is that the more power you give

816
00:43:06,600 --> 00:43:09,480
Speaker 1: to UH at the average member, the harder it can

817
00:43:09,480 --> 00:43:12,120
Speaker 1: be to get things done. And in our last minute

818
00:43:12,120 --> 00:43:15,040
Speaker 1: here Emily, while all this turmoil continues to unfold on

819
00:43:15,120 --> 00:43:18,520
Speaker 1: Capitol Hill, here's President Biden heading back out on the

820
00:43:18,640 --> 00:43:23,680
Speaker 1: road promoting his agenda and promoting it with Mitch McConnell,

821
00:43:23,680 --> 00:43:28,920
Speaker 1: which I think is the most interesting exactly, And you wonder,

822
00:43:29,080 --> 00:43:31,880
Speaker 1: I mean, the speculation, of course, is that you know,

823
00:43:31,920 --> 00:43:35,640
Speaker 1: Biden is considering running. In the last time he ran,

824
00:43:35,760 --> 00:43:38,399
Speaker 1: he ran as a consensus candidate. He has a few

825
00:43:38,400 --> 00:43:40,280
Speaker 1: things to show for that. He can point to things

826
00:43:40,320 --> 00:43:43,400
Speaker 1: like the infrastructure Bill and say, hey, I got Republican

827
00:43:43,440 --> 00:43:46,239
Speaker 1: support for this one. Um but you know, I think

828
00:43:46,280 --> 00:43:48,560
Speaker 1: there's still a sense that there's still a lot of

829
00:43:48,600 --> 00:43:51,320
Speaker 1: partisanship in the US. There's still a lot of desire

830
00:43:51,360 --> 00:43:54,480
Speaker 1: for people to come together, and this trip could be

831
00:43:54,719 --> 00:43:57,359
Speaker 1: of something that Biden begins to use as he tries

832
00:43:57,400 --> 00:44:00,759
Speaker 1: to build up campaign. God all will be helpful as

833
00:44:00,800 --> 00:44:03,000
Speaker 1: he tries to figure out how he's going to wind

834
00:44:03,040 --> 00:44:05,799
Speaker 1: up brasing the depth sailing, bunding the government and doing

835
00:44:05,840 --> 00:44:08,400
Speaker 1: all the other must pass bills that he does, especially

836
00:44:08,480 --> 00:44:11,719
Speaker 1: with the House of being as acrimonious as it is. Yeah,

837
00:44:11,840 --> 00:44:14,640
Speaker 1: I mean, first they've got to get a speaker decided

838
00:44:14,680 --> 00:44:17,400
Speaker 1: before they can move any bills, as you mentioned just

839
00:44:17,480 --> 00:44:21,960
Speaker 1: a few minutes ago. So Bloomberg Government's Emily Wilkins um,

840
00:44:22,000 --> 00:44:24,200
Speaker 1: I guess brace herself for what's to come for the

841
00:44:24,239 --> 00:44:28,000
Speaker 1: next day, maybe several days, as the fight unfolds on

842
00:44:28,120 --> 00:44:30,719
Speaker 1: Capitol Hill, and you can read more about it on

843
00:44:30,760 --> 00:44:34,200
Speaker 1: Bloomberg dot com and on the Bloomberg terminal. Follow all

844
00:44:34,239 --> 00:44:38,640
Speaker 1: the latest on Bloomberg Radio in Washington at Bloomberg and

845
00:44:38,719 --> 00:44:42,080
Speaker 1: one oh five point seven FM HD two. Right now,

846
00:44:42,160 --> 00:44:45,440
Speaker 1: SMP futures are hired by sixteen points staff futures up

847
00:44:45,480 --> 00:44:49,120
Speaker 1: ninety eight and Nasdaq futures highed by seventy five points.

848
00:44:49,160 --> 00:44:51,799
Speaker 1: Now they just keep rising ten Your treasury is up

849
00:44:51,800 --> 00:44:54,360
Speaker 1: sixteen thirty seconds now for a yield of three point

850
00:44:54,480 --> 00:44:58,319
Speaker 1: six seven per cent. And you're listening to Bloomberg Day Right,

851
00:45:01,760 --> 00:45:05,160
Speaker 1: markets headlines and breaking news twenty four hours a day

852
00:45:05,280 --> 00:45:08,279
Speaker 1: at Bloomberg dot com, the Bloomberg Business at and at

853
00:45:08,280 --> 00:45:17,759
Speaker 1: Bloomberg Quick Tape. This is a Bloomberg Business lash and

854
00:45:17,800 --> 00:45:20,839
Speaker 1: I'm Karen. Moscow stocks on the rise this morning, along

855
00:45:20,840 --> 00:45:24,040
Speaker 1: with US stock index futures as favorable news reports from

856
00:45:24,080 --> 00:45:27,279
Speaker 1: Shina and data from Europe boost risk appetite. We checked

857
00:45:27,280 --> 00:45:30,080
Speaker 1: the markets all day long here on Bloomberg SMP futures

858
00:45:30,080 --> 00:45:32,960
Speaker 1: of eighteen points or half percent down futures have a

859
00:45:33,000 --> 00:45:35,080
Speaker 1: third of upper cent or a hundred twelve points, and

860
00:45:35,160 --> 00:45:38,000
Speaker 1: NASDACK futures up seven tens of a percent or about

861
00:45:38,000 --> 00:45:40,960
Speaker 1: eighty points. And Jacks in Germany's at one point seven percent,

862
00:45:41,200 --> 00:45:43,560
Speaker 1: and your treasury of sixteen thirty seconds you have three

863
00:45:43,560 --> 00:45:45,759
Speaker 1: point six seven percent. They yield them at two year,

864
00:45:45,880 --> 00:45:48,719
Speaker 1: four point three three percent. Nime X screwed oil is

865
00:45:48,760 --> 00:45:51,239
Speaker 1: down two point six percent at a dollar nine eight

866
00:45:51,520 --> 00:45:54,360
Speaker 1: at seventy four dollars ninety six cents of Barrel Comic

867
00:45:54,400 --> 00:45:56,920
Speaker 1: school that more than one percent, or nineteen dollars fifty

868
00:45:56,960 --> 00:46:00,200
Speaker 1: cents at eighteen sixty five sixty announced the euro one

869
00:46:00,200 --> 00:46:03,000
Speaker 1: point six seven against the dollar, British bound one point

870
00:46:03,000 --> 00:46:06,160
Speaker 1: to zero five zero begin at one thirty point five

871
00:46:06,239 --> 00:46:08,680
Speaker 1: four and bitcoin is that more than one percent at

872
00:46:08,680 --> 00:46:11,720
Speaker 1: about sixteen thousand, eight hundred dollars. And that's a Bloomberg

873
00:46:11,760 --> 00:46:14,280
Speaker 1: busy flash, Nathan, all right, Karen, thank you, six fifty

874
00:46:14,360 --> 00:46:17,160
Speaker 1: six on Wall Street. Ahead of Bloomberg surveillance starting in

875
00:46:17,200 --> 00:46:18,560
Speaker 1: just a few minutes, we want to take a look

876
00:46:18,600 --> 00:46:20,800
Speaker 1: at some of the names moving in this pre market.

877
00:46:20,800 --> 00:46:24,560
Speaker 1: We're joined by Bloomberg Radio and TV markets correspondent Pretty goofed,

878
00:46:24,840 --> 00:46:27,279
Speaker 1: Happy New year, Pretty uh, I see We've got just

879
00:46:27,360 --> 00:46:30,279
Speaker 1: broken the news a few minutes ago that Salesforce is

880
00:46:30,600 --> 00:46:33,240
Speaker 1: getting ready to restructure, getting ready to cut some jobs,

881
00:46:33,360 --> 00:46:35,040
Speaker 1: and looks like the stocks getting a bit of a

882
00:46:35,080 --> 00:46:37,359
Speaker 1: pop on the back of that. Yeah, happy new Year.

883
00:46:37,360 --> 00:46:39,080
Speaker 1: You are starting to see a little bit of a

884
00:46:39,160 --> 00:46:42,200
Speaker 1: new strategy being taken by Salesforce. In three they are

885
00:46:42,200 --> 00:46:44,719
Speaker 1: cutting ten percent of their workforce, setting up to two

886
00:46:44,760 --> 00:46:47,160
Speaker 1: point one billion dollars in charges. Now this is really

887
00:46:47,239 --> 00:46:50,400
Speaker 1: important because of course a ten percent cut in workforce

888
00:46:50,480 --> 00:46:53,040
Speaker 1: is not necessarily happy news for for anyone from a

889
00:46:53,120 --> 00:46:55,279
Speaker 1: human impact. But what you have seen from a lot

890
00:46:55,280 --> 00:46:57,800
Speaker 1: of these tech companies that are kind of cutting back

891
00:46:58,239 --> 00:47:00,200
Speaker 1: is this idea that they're actually getting rewarded for it

892
00:47:00,239 --> 00:47:02,240
Speaker 1: in the stock market. And the logic here is simple.

893
00:47:02,480 --> 00:47:04,680
Speaker 1: They are actually being able to cut back on those

894
00:47:04,680 --> 00:47:08,080
Speaker 1: costs and able to perhaps reinvest that money elsewhere, and

895
00:47:08,120 --> 00:47:10,799
Speaker 1: that's usually seen as a positive um when you look

896
00:47:10,840 --> 00:47:14,319
Speaker 1: at the investment scenario. So CRM is the ticker there,

897
00:47:14,360 --> 00:47:16,799
Speaker 1: it is up about two point eight percent in the

898
00:47:16,840 --> 00:47:18,680
Speaker 1: pre market. It's not the only one though. You do

899
00:47:18,760 --> 00:47:20,719
Speaker 1: have a pretty big move showing up in some of

900
00:47:20,760 --> 00:47:23,279
Speaker 1: these Chinese a d rs. Ali Baba is our poster

901
00:47:23,400 --> 00:47:25,479
Speaker 1: child for that b A b A up seven point

902
00:47:25,520 --> 00:47:30,520
Speaker 1: one percent essentially comes after ants approved fundraising plan is

903
00:47:30,520 --> 00:47:32,520
Speaker 1: starting to boost a little bit of optimism when it

904
00:47:32,520 --> 00:47:34,880
Speaker 1: comes to the Chinese regulatory space. This is a pretty

905
00:47:34,920 --> 00:47:37,040
Speaker 1: big deal because, of course we know not only is

906
00:47:37,080 --> 00:47:39,239
Speaker 1: Ali Baba kind of our poster child for all things

907
00:47:39,320 --> 00:47:41,480
Speaker 1: China when it comes to the investment case, and how

908
00:47:41,560 --> 00:47:43,200
Speaker 1: much people really want to hop into the A d

909
00:47:43,400 --> 00:47:46,200
Speaker 1: r s, but also because Aunt group itself wanted to

910
00:47:46,200 --> 00:47:48,520
Speaker 1: become this big kind of behemoth, the idea that I

911
00:47:48,520 --> 00:47:50,239
Speaker 1: want to take on a kind of financial business in

912
00:47:50,280 --> 00:47:54,160
Speaker 1: addition to its commercial business and was then the target

913
00:47:54,239 --> 00:47:56,560
Speaker 1: of the Chinese government for a very long time. And

914
00:47:56,560 --> 00:47:59,799
Speaker 1: speaking of China, Uh, you are seeing not just Ali Baba,

915
00:47:59,880 --> 00:48:01,680
Speaker 1: but all the A d r s actually up by

916
00:48:01,719 --> 00:48:04,080
Speaker 1: quite a bit. B A B A shares up about

917
00:48:04,120 --> 00:48:07,160
Speaker 1: seven percent in the pre market. And they're also coming

918
00:48:07,160 --> 00:48:10,920
Speaker 1: out with a new plan Nathan to talk about subsidies

919
00:48:10,960 --> 00:48:13,880
Speaker 1: when it comes to easing some of the semiconductor materials.

920
00:48:13,880 --> 00:48:15,920
Speaker 1: So you're seeing a lot of the chip stocks higher

921
00:48:15,920 --> 00:48:17,520
Speaker 1: around the world as well, saying you know what, we're

922
00:48:17,560 --> 00:48:20,080
Speaker 1: going to try to compete given some of the restrictions

923
00:48:20,120 --> 00:48:22,799
Speaker 1: the US has put and we are still um going

924
00:48:22,800 --> 00:48:24,920
Speaker 1: to do it by lowering those material costs down. Some

925
00:48:25,239 --> 00:48:28,760
Speaker 1: names like Micron for example, m you up about three

926
00:48:28,800 --> 00:48:30,919
Speaker 1: point eight percent of the pre market. Now we got

927
00:48:30,920 --> 00:48:33,839
Speaker 1: to talk about Tesla as well this morning, Creaty, because

928
00:48:33,840 --> 00:48:35,840
Speaker 1: it looks like once again Cathy would has bought the

929
00:48:35,880 --> 00:48:39,400
Speaker 1: dep They absolutely haven't. It's good enough for investors to

930
00:48:39,560 --> 00:48:42,200
Speaker 1: follow suit. T s l A shares up one point

931
00:48:42,200 --> 00:48:44,480
Speaker 1: four percent. Let's see how long it lasts. Though some

932
00:48:44,520 --> 00:48:46,120
Speaker 1: of this might just be kind of a reaction from

933
00:48:46,160 --> 00:48:48,120
Speaker 1: some of the pain we saw yesterday. I want to

934
00:48:48,200 --> 00:48:51,000
Speaker 1: end Nathan very quickly with Microsoft shares are actually down

935
00:48:51,040 --> 00:48:54,960
Speaker 1: two percent after UBS downgraded the company to a neutral

936
00:48:55,000 --> 00:48:57,680
Speaker 1: from a boy saying that their cloud computing services businesses

937
00:48:57,800 --> 00:49:01,040
Speaker 1: may see a steep growth deceleration that could be worse

938
00:49:01,040 --> 00:49:03,479
Speaker 1: than expected. M s f T is the ticker there. Yeah,

939
00:49:03,520 --> 00:49:06,480
Speaker 1: more potential macro headwinds. Big call there from UVS. Thanks

940
00:49:06,480 --> 00:49:09,520
Speaker 1: for this as always. Bloomberg Radio and TV Markets correspondent

941
00:49:09,840 --> 00:49:12,680
Speaker 1: Krety Gupta with us this morning. SMP futures right now

942
00:49:12,760 --> 00:49:16,440
Speaker 1: up fourteen points, staff futures of NASTAC futures up sixty

943
00:49:16,560 --> 00:49:20,160
Speaker 1: seven points. This is Bloomberg Daybreak. I'm Nathan Hagar along

944
00:49:20,160 --> 00:49:22,839
Speaker 1: with Karen Moscow. It is six fifty nine on Wall

945
00:49:22,880 --> 00:49:26,000
Speaker 1: Street and Bloomberg Surveillance with Tom Keene, Jonathan Farrell, and

946
00:49:26,040 --> 00:49:31,839
Speaker 1: Lisa Abramo. It starts right now by from the Financial

947
00:49:31,880 --> 00:49:35,680
Speaker 1: Capital of the World, broadcasting across thelo This is w

948
00:49:35,760 --> 00:49:45,200
Speaker 1: b b R, New York Bloomberg he living trio. There

949
00:49:45,239 --> 00:49:48,000
Speaker 1: are a lot of real fundamental issues that are gonna

950
00:49:48,000 --> 00:49:50,320
Speaker 1: be pulling down inflation next quarter or two. We stayed