1 00:00:02,640 --> 00:00:05,360 Speaker 1: Live from the Bloomberg Interact at Brooker Studios. This is 2 00:00:05,400 --> 00:00:09,520 Speaker 1: Bloomberg day Break for Tuesday, January eleven two. Coming up 3 00:00:09,560 --> 00:00:12,959 Speaker 1: this hour. J Powell heads to Capitol Hill for confirmation 4 00:00:13,000 --> 00:00:15,920 Speaker 1: hearings by Shair. Richard Clarena leaves his post at the FED. 5 00:00:15,960 --> 00:00:19,000 Speaker 1: Early Fiser announced his plans for a hybrid vaccine to 6 00:00:19,040 --> 00:00:22,000 Speaker 1: combat the omicron variant, and the Senate targets the North 7 00:00:22,040 --> 00:00:26,119 Speaker 1: Stream to pipeline with sanctions. Details and questions emerge about 8 00:00:26,120 --> 00:00:29,800 Speaker 1: Sunday's deadly Bronx fire. Plus Chicago Public school students are 9 00:00:29,840 --> 00:00:33,240 Speaker 1: set to return to classes tomorrow. I'm Michael Barr More Ahead, 10 00:00:33,680 --> 00:00:36,960 Speaker 1: I'm John Stashon sports Georgia beat Alabama with a national 11 00:00:37,040 --> 00:00:39,800 Speaker 1: championship in colle's football, The Knicks one, the Nets and 12 00:00:39,920 --> 00:00:46,280 Speaker 1: Rangers of both Laws. That's all straight Ahead on Bloomberg. 13 00:00:46,320 --> 00:00:51,480 Speaker 1: Gay Break on Bloomberg eleven three, on New York Bloomberg one, Washington, 14 00:00:51,600 --> 00:00:55,480 Speaker 1: d C, Bloomberg one, O six one, Boston, Bloomberg nine six, 15 00:00:55,720 --> 00:00:59,920 Speaker 1: San Francisco, Sirius XM one nineteen and around the world 16 00:01:00,000 --> 00:01:03,880 Speaker 1: Old on Bloomberg Radio dot Com and via The Bloomberg Business. 17 00:01:07,440 --> 00:01:10,280 Speaker 1: Good Morning, I'm Nathan Hager and I'm fair in Moscow 18 00:01:10,319 --> 00:01:13,280 Speaker 1: and US DOT index future is on the rise this morning. 19 00:01:13,360 --> 00:01:15,199 Speaker 1: If we're coming up to six o one on Wall Street, 20 00:01:15,200 --> 00:01:17,240 Speaker 1: and we check the markets every fifteen minutes throughout the 21 00:01:17,240 --> 00:01:20,360 Speaker 1: trading day on bloomberg S and P futures of nineteen 22 00:01:20,400 --> 00:01:23,520 Speaker 1: points down, features of ninety four Nasdack futures of ninety 23 00:01:23,560 --> 00:01:26,360 Speaker 1: five ten, your treasury that will change at one point 24 00:01:26,360 --> 00:01:28,800 Speaker 1: seven six percent, and they yield on the two year 25 00:01:29,000 --> 00:01:32,120 Speaker 1: point nine one percent, and I'm max screwed oils up 26 00:01:32,160 --> 00:01:35,360 Speaker 1: one point four percent, Nathan Karen. We begin with today's 27 00:01:35,360 --> 00:01:38,399 Speaker 1: confirmation hearing for j. Powell to serve a second term 28 00:01:38,400 --> 00:01:42,120 Speaker 1: as FED chair. Powell's testimony comes as markets remain volatile, 29 00:01:42,160 --> 00:01:45,759 Speaker 1: gripped by rising inflation and the prospect of higher interest rates. 30 00:01:45,959 --> 00:01:49,360 Speaker 1: We get more from Bloomberg Economics correspondent Michael McKee. Powell 31 00:01:49,400 --> 00:01:52,080 Speaker 1: comes before Congress just when there's something to talk about. 32 00:01:52,320 --> 00:01:54,600 Speaker 1: Fear the Fed is behind the curve on inflation sent 33 00:01:54,760 --> 00:01:58,040 Speaker 1: stocks lower on Monday as market interest rates continued to rise. 34 00:01:58,400 --> 00:02:01,280 Speaker 1: Representatives will connect the dots trying to get a commitment 35 00:02:01,320 --> 00:02:04,040 Speaker 1: from Powell the Fed will ratify the market moves by 36 00:02:04,120 --> 00:02:07,400 Speaker 1: raising rates sooner and faster, and they will ask him 37 00:02:07,440 --> 00:02:10,639 Speaker 1: about plans for shrinking the Fed's balance sheet. Members will 38 00:02:10,680 --> 00:02:12,959 Speaker 1: also want to know more about his plans for non 39 00:02:13,040 --> 00:02:16,320 Speaker 1: monetary policies at the FED. How involved will the Central 40 00:02:16,320 --> 00:02:20,800 Speaker 1: Bank be in climate change initiatives, in regulating cryptocurrencies, in 41 00:02:20,840 --> 00:02:24,680 Speaker 1: approving bank mergers? Michael McKee, Bloomberg Daybreak, All right, Michael, 42 00:02:24,720 --> 00:02:26,919 Speaker 1: thank you all. Later this week, Lyle Brainerd heads to 43 00:02:27,000 --> 00:02:30,480 Speaker 1: Capital Hill for her confirmation hearing to serve as vice 44 00:02:30,560 --> 00:02:33,120 Speaker 1: chair of the FED. And now we're learning that her predecessor, 45 00:02:33,200 --> 00:02:36,959 Speaker 1: Richard Clarada, is resigning early. Bloomberg Dot Kristner has that story. 46 00:02:37,120 --> 00:02:39,440 Speaker 1: Clarada will step down from the Board of Governors two 47 00:02:39,480 --> 00:02:42,560 Speaker 1: weeks before his term is due to expire. Last week, 48 00:02:42,600 --> 00:02:44,840 Speaker 1: it was revealed he had sold at least a million 49 00:02:44,840 --> 00:02:48,280 Speaker 1: dollars in shares of a U S stock fund in February. 50 00:02:48,320 --> 00:02:50,840 Speaker 1: A few days later, he bought back a similar amount 51 00:02:50,840 --> 00:02:53,240 Speaker 1: of the same fund on the eve of a major 52 00:02:53,280 --> 00:02:56,040 Speaker 1: FETE announcement. Clarida has been a member of the board 53 00:02:56,080 --> 00:02:59,960 Speaker 1: and vice chair since September eighteen. President Biden has non 54 00:03:00,000 --> 00:03:03,400 Speaker 1: a NATed FED governor. Lyle brainer To succeed Clarida. Her 55 00:03:03,480 --> 00:03:06,679 Speaker 1: confirmation hearings begin on Thursday in New York. I'm Doug 56 00:03:06,720 --> 00:03:10,120 Speaker 1: Chrisener Bloomberg Daybreak. Thanks Doug. Meantime, the drum beat for 57 00:03:10,200 --> 00:03:12,680 Speaker 1: more interest rate hikes from the Fed is getting louder. 58 00:03:12,720 --> 00:03:15,360 Speaker 1: For the latest there were joined live by Bloomberg's John Tucker. 59 00:03:15,360 --> 00:03:17,919 Speaker 1: Good morning John, Good morning Nathan. The latest call for 60 00:03:17,919 --> 00:03:20,920 Speaker 1: faster heikes comes from former New York Fed president and 61 00:03:21,040 --> 00:03:24,680 Speaker 1: current Bloomberg opinion columnists Bill Dudley. He says the Central 62 00:03:24,680 --> 00:03:27,800 Speaker 1: Bank needs to get a lot more hawkish. My best 63 00:03:27,800 --> 00:03:29,920 Speaker 1: guess is, you know that they they need to do 64 00:03:29,960 --> 00:03:31,880 Speaker 1: at least four or five rate hikes this year. And 65 00:03:32,080 --> 00:03:34,160 Speaker 1: it wouldn't strike me at all if we if we 66 00:03:34,160 --> 00:03:36,600 Speaker 1: get into an every meeting kind of cycle at some point. 67 00:03:36,720 --> 00:03:39,360 Speaker 1: Bill Dudley, making the comments in an interview on Bloomberg 68 00:03:39,360 --> 00:03:43,480 Speaker 1: Surveillance swaps markets already indicating three or four interest rate 69 00:03:43,560 --> 00:03:46,080 Speaker 1: hikes from the Center back this year, Goldban Sachs and 70 00:03:46,160 --> 00:03:50,120 Speaker 1: JP Morgan Chase forecasting four options traders also flagging the 71 00:03:50,160 --> 00:03:54,000 Speaker 1: prospect of eight quarter point rate moves by early four 72 00:03:54,720 --> 00:03:58,160 Speaker 1: from earlier expectations of around six. You know, York I'm 73 00:03:58,240 --> 00:04:01,120 Speaker 1: John Tucker, Bloomberg day Break. All right, John, thank you all. 74 00:04:01,200 --> 00:04:03,280 Speaker 1: Just a couple of months ago, there was confidence in 75 00:04:03,320 --> 00:04:06,800 Speaker 1: a faster global recovery, and now that confidence may be fading. 76 00:04:06,840 --> 00:04:09,280 Speaker 1: Bloomberg's Rnda Young and joins us with details on that. 77 00:04:09,360 --> 00:04:11,840 Speaker 1: Good morning, Renia, Good morning care. In a new World 78 00:04:11,880 --> 00:04:15,240 Speaker 1: Economic Forum survey finds just one in six government and 79 00:04:15,360 --> 00:04:19,440 Speaker 1: business leaders are optimistic on the global economic recovery, and 80 00:04:19,520 --> 00:04:23,440 Speaker 1: just one intend thinks worldwide economic expansion will pick up speed. 81 00:04:23,760 --> 00:04:27,400 Speaker 1: The Global Risks reports sites the pandemic, climate change, and 82 00:04:27,520 --> 00:04:31,200 Speaker 1: rising social tensions among the biggest concerns. Short term fears 83 00:04:31,200 --> 00:04:34,760 Speaker 1: include health and social damage from COVID nineteen, while economic 84 00:04:34,839 --> 00:04:37,960 Speaker 1: and debt related issues are cited as medium term dangerous. 85 00:04:38,400 --> 00:04:41,640 Speaker 1: I'm rened A Young bloommerk Daybreak, Na, thank you. Now, 86 00:04:41,680 --> 00:04:44,320 Speaker 1: we turned to the latest on the pandemic and vaccines. 87 00:04:44,680 --> 00:04:47,760 Speaker 1: Fiser says it is developing a hybrid shot that combines 88 00:04:47,800 --> 00:04:50,640 Speaker 1: its original vaccine with a formulation that shields against the 89 00:04:50,640 --> 00:04:54,360 Speaker 1: omicron variants. According to CEO Albert Borla, Findser will approach 90 00:04:54,400 --> 00:04:57,520 Speaker 1: US regulators in March for clearance of the shot. Well. 91 00:04:57,560 --> 00:04:59,680 Speaker 1: Maderna is also working on a shot aimed at the 92 00:04:59,720 --> 00:05:03,320 Speaker 1: om kron variant. Nathan, we caught up with CEO Stefan boncell. 93 00:05:03,760 --> 00:05:06,080 Speaker 1: We are moving very aggressively. We're even to be here 94 00:05:06,160 --> 00:05:11,320 Speaker 1: in a couple of weeks in the cleaning specific violence. 95 00:05:12,240 --> 00:05:15,000 Speaker 1: CEO Stefan Bon sells as Maderna has more than eighteen 96 00:05:15,000 --> 00:05:17,800 Speaker 1: billion dollars in vaccine orders so far this year. In 97 00:05:17,920 --> 00:05:20,560 Speaker 1: Hong Kong, Karen authorities are doubling down on their COVID 98 00:05:20,680 --> 00:05:23,640 Speaker 1: zero policy. The city is reimposing some of the strictest 99 00:05:23,680 --> 00:05:27,839 Speaker 1: limits since the pandemic began. Kindergartens and primary schools will close, 100 00:05:28,200 --> 00:05:30,760 Speaker 1: and passengers from high risk countries will be banned from 101 00:05:30,800 --> 00:05:34,559 Speaker 1: passing through Hong Kong's International airport. Meantime, Nathan, we're seeing 102 00:05:34,560 --> 00:05:37,200 Speaker 1: somewhat of an exodus from Hong Kong if patriots and 103 00:05:37,200 --> 00:05:39,960 Speaker 1: locals are moving away from this city and increasing numbers. 104 00:05:40,000 --> 00:05:43,000 Speaker 1: On Bloombergy Daybreak Asia anchor Brian Curtis as that story. 105 00:05:43,279 --> 00:05:46,240 Speaker 1: The population decline is running at one point two percent 106 00:05:46,360 --> 00:05:49,280 Speaker 1: since the end of It's the biggest drop in at 107 00:05:49,320 --> 00:05:53,279 Speaker 1: least six decades. Policymakers have stepped up their crackdown on 108 00:05:53,360 --> 00:05:56,680 Speaker 1: civil society and they've brushed aside an uproar over aligning 109 00:05:56,680 --> 00:06:00,200 Speaker 1: with China's COVID zero strategy. The brain drain is seen 110 00:06:00,279 --> 00:06:04,719 Speaker 1: in sectors as education, healthcare, and even finance, and critics 111 00:06:04,720 --> 00:06:07,320 Speaker 1: say it will likely be felt by residents for years 112 00:06:07,360 --> 00:06:10,800 Speaker 1: to come. Brian Curtis Sploomberg Daybreak, Brian, thank you. Back 113 00:06:10,839 --> 00:06:13,040 Speaker 1: here in the US, the nord Stream to pipeline is 114 00:06:13,080 --> 00:06:16,120 Speaker 1: in focus on Capitol Hill. The Senate is considering plans 115 00:06:16,160 --> 00:06:18,880 Speaker 1: to impose tough new sanctions on the pipeline that links 116 00:06:18,920 --> 00:06:22,040 Speaker 1: Russia and Germany. Amy Morris has details from our Bloomberg 117 00:06:22,800 --> 00:06:26,479 Speaker 1: newsroom in Washington. The Senate could vote for sanctions this week, 118 00:06:26,560 --> 00:06:30,159 Speaker 1: but some Democrats argue sanctions now could make it more 119 00:06:30,240 --> 00:06:33,080 Speaker 1: likely Russia will invade Ukraine because it would break the 120 00:06:33,160 --> 00:06:36,159 Speaker 1: United States away from Germany. But the Senate vote is 121 00:06:36,200 --> 00:06:39,080 Speaker 1: moving forward as part of a deal between Senate Majority 122 00:06:39,120 --> 00:06:42,360 Speaker 1: Leader Chuck Schumer and Senator Ted Cruz of Texas. Crews 123 00:06:42,440 --> 00:06:45,919 Speaker 1: introduced the sanctions bill while placing a hold on dozens 124 00:06:45,920 --> 00:06:49,560 Speaker 1: of President Biden's foreign policy nominees. This could clear the 125 00:06:49,560 --> 00:06:52,520 Speaker 1: way for those nominees to be confirmed in Washington. I 126 00:06:52,640 --> 00:06:55,200 Speaker 1: maybe Morris Bloomberg daybreak. All right, Amy, thank you about 127 00:06:55,240 --> 00:06:57,880 Speaker 1: training to the markets. Now. Trading has resumed at the 128 00:06:57,960 --> 00:07:01,560 Speaker 1: London Metal Exchange after a five our outage. The world's 129 00:07:01,560 --> 00:07:05,080 Speaker 1: most important base metals exchange said it had connectivity issues 130 00:07:05,200 --> 00:07:08,640 Speaker 1: caused by a power outage at a third party data center. 131 00:07:09,040 --> 00:07:12,720 Speaker 1: And again, futures are on the rise this morning. And 132 00:07:12,840 --> 00:07:16,400 Speaker 1: as straight ahead, your latest local headlines plus a check 133 00:07:16,440 --> 00:07:24,240 Speaker 1: of sports, and this is Bloomberg takes paren six oh 134 00:07:24,280 --> 00:07:27,120 Speaker 1: seven on Wall Street, Temperatures on the decline where it's 135 00:07:27,160 --> 00:07:29,640 Speaker 1: seventeen degrees in Central Park and still dealing with a 136 00:07:29,680 --> 00:07:32,560 Speaker 1: bad tractor trailer crash has northbound Vegan shut down at 137 00:07:32,600 --> 00:07:35,160 Speaker 1: the hundred seventy nine. Michael Barr is here with more 138 00:07:35,200 --> 00:07:37,160 Speaker 1: on what's going on in New York and around the world. 139 00:07:37,200 --> 00:07:40,320 Speaker 1: Good morning, Michael, Good morning Nathan. Prayers were held last 140 00:07:40,440 --> 00:07:44,280 Speaker 1: night as sorrow filled the Bronx community after Sunday's fire 141 00:07:44,440 --> 00:07:48,480 Speaker 1: and choking smoke engulf to high rise apartment complex. The 142 00:07:48,520 --> 00:07:51,360 Speaker 1: death toll has been lowered to seventeen people killed, including 143 00:07:51,400 --> 00:07:54,320 Speaker 1: eight children. Firefighters say the blaze was sparked by a 144 00:07:54,320 --> 00:07:57,880 Speaker 1: faulty space eater, but the deadly smoke traveled throughout the 145 00:07:57,920 --> 00:08:01,240 Speaker 1: building due to an open door in the hallway. Mayor 146 00:08:01,400 --> 00:08:05,480 Speaker 1: Eric Adams closed the door. Close the door that was 147 00:08:05,520 --> 00:08:08,600 Speaker 1: embedded in my head as a child watching the commercials 148 00:08:08,600 --> 00:08:11,520 Speaker 1: over and over again. We're going to double down on 149 00:08:11,680 --> 00:08:15,160 Speaker 1: that message. Mayor Adams says. The flames damaged only a 150 00:08:15,200 --> 00:08:17,400 Speaker 1: small part of the building, but smoked pour it through 151 00:08:17,400 --> 00:08:20,840 Speaker 1: the apartment's open door and turned stairwells into death traps. 152 00:08:21,200 --> 00:08:23,880 Speaker 1: New Jersey Governor Phil Murphy warned the residents of his 153 00:08:23,960 --> 00:08:27,880 Speaker 1: state that they are already seeing hospital admissions that arrivals 154 00:08:27,920 --> 00:08:30,680 Speaker 1: some of the pandemic's worst days. We're in the thick 155 00:08:30,720 --> 00:08:34,959 Speaker 1: of this latest fight against the omicron tsunami washing across 156 00:08:35,000 --> 00:08:37,760 Speaker 1: the state. Governor Murphy is concerned it's not even the 157 00:08:37,800 --> 00:08:40,840 Speaker 1: reported peak of the omicron variant of the coronavirus that 158 00:08:40,920 --> 00:08:43,800 Speaker 1: health officials have been warning us about. Both the U 159 00:08:43,920 --> 00:08:47,400 Speaker 1: and ventilator numbers are up significantly and have roughly doubled 160 00:08:47,760 --> 00:08:50,880 Speaker 1: since Christmas. These are the highest numbers we've seen since 161 00:08:50,880 --> 00:08:53,560 Speaker 1: May of two thousand and twenty. Governor Murphy says many 162 00:08:53,600 --> 00:08:58,280 Speaker 1: New Jersey towns and cities have reintroduced mask mandates. New 163 00:08:58,320 --> 00:09:01,480 Speaker 1: Jersey transit, set rail and US writers ship has declined 164 00:09:01,720 --> 00:09:05,240 Speaker 1: following the holiday season and an omicron fuel to coronavirus search. 165 00:09:05,880 --> 00:09:09,360 Speaker 1: Weekday rail ridership was at about thirty to thirty five 166 00:09:09,360 --> 00:09:12,600 Speaker 1: percent of pre COVID levels in December, down from about 167 00:09:12,720 --> 00:09:16,000 Speaker 1: fifty five percent a month earlier. Chicago public schools are 168 00:09:16,040 --> 00:09:18,760 Speaker 1: set to reopen for students tomorrow after the teachers union 169 00:09:18,840 --> 00:09:22,000 Speaker 1: leadership voted to approve a deal with city officials to 170 00:09:22,040 --> 00:09:25,560 Speaker 1: restart in person classes in the nation's third largest school district. 171 00:09:25,960 --> 00:09:29,440 Speaker 1: Schools have been closed since January five after Chicago teachers 172 00:09:29,679 --> 00:09:32,600 Speaker 1: voted to shift back to remote learning, demanding more stringent 173 00:09:32,600 --> 00:09:36,400 Speaker 1: protections and men to COVID nineteen surge. President Biden travels 174 00:09:36,400 --> 00:09:40,000 Speaker 1: to Atlanta today to push voting rights legislation. Biden will 175 00:09:40,040 --> 00:09:43,199 Speaker 1: travel with the Vice president. North Korea fire do ballistic 176 00:09:43,200 --> 00:09:46,280 Speaker 1: missile that flew at almost ten times the speed of 177 00:09:46,320 --> 00:09:49,640 Speaker 1: sound into waters off its eastern coast. South Korea says 178 00:09:49,640 --> 00:09:52,880 Speaker 1: the missile fell into the sea separating the peninsula from Japan. 179 00:09:53,280 --> 00:09:55,600 Speaker 1: Global News twenty four hours a day on air and 180 00:09:55,720 --> 00:09:58,640 Speaker 1: on Bloomberg quick Take, powered by more than twenty seven 181 00:09:59,040 --> 00:10:02,040 Speaker 1: journalists and analysts. Than a hundred twenty countries. Michael Barr, 182 00:10:02,120 --> 00:10:09,199 Speaker 1: this is Bloomberg Nathan. Thanks Michael, almost sixth cent on 183 00:10:09,240 --> 00:10:11,880 Speaker 1: Wall Street time for the Bloomberg Sports Update with John Stenshower. 184 00:10:12,000 --> 00:10:15,120 Speaker 1: Next day to the college football season ended in Indianapolis, 185 00:10:15,200 --> 00:10:18,600 Speaker 1: Alabama and Georgia. They played last month for the SEC Championship. 186 00:10:18,640 --> 00:10:21,920 Speaker 1: Bama won that one by seventeen points, Georgia one last 187 00:10:22,040 --> 00:10:24,440 Speaker 1: night by fifteen. It was close to them that Bama 188 00:10:24,480 --> 00:10:27,360 Speaker 1: had leads in the third and fourth quarters, but George, 189 00:10:27,400 --> 00:10:30,680 Speaker 1: after scoring no touchdowns for the first forty three and 190 00:10:30,679 --> 00:10:32,719 Speaker 1: a half minute, scored four t d s in the 191 00:10:32,800 --> 00:10:35,600 Speaker 1: last sixteen and a half minutes that included a game 192 00:10:35,640 --> 00:10:39,400 Speaker 1: ceiling scored in the final minute excedent side hand r 193 00:10:39,480 --> 00:10:43,400 Speaker 1: Robinson throws to the near side and a second at 194 00:10:43,480 --> 00:10:46,559 Speaker 1: the twenty one yard line and Kilee Ringo pr a 195 00:10:46,640 --> 00:10:50,600 Speaker 1: back across that field across the thirty inside of twenty 196 00:10:51,040 --> 00:10:58,640 Speaker 1: great scores. The George of Bulldogs lead by two scores 197 00:10:59,080 --> 00:11:02,920 Speaker 1: with fifty seconds to ESPN Radio had to call the 198 00:11:02,960 --> 00:11:06,280 Speaker 1: final thirty three to eighteen. Georgia's first national championship. Sons 199 00:11:06,280 --> 00:11:09,040 Speaker 1: herschel Walker led them in nineteen eighty they lost the 200 00:11:09,080 --> 00:11:11,920 Speaker 1: title game to Bama four years ago. In overtime, Crimson 201 00:11:12,000 --> 00:11:14,199 Speaker 1: Tide denied what would have been a seventh title in 202 00:11:14,240 --> 00:11:17,120 Speaker 1: the last thirteen years. Nicks finally went in some home 203 00:11:17,160 --> 00:11:18,880 Speaker 1: game four in a row, with the Garden pulled away 204 00:11:18,880 --> 00:11:21,400 Speaker 1: from the Spurs second half one one eleven nineties six 205 00:11:21,440 --> 00:11:24,319 Speaker 1: thirty one points where R. J. Barrett nets in Portland, 206 00:11:24,320 --> 00:11:27,280 Speaker 1: where without James Harden knee injury, the Blazers without Damian 207 00:11:27,360 --> 00:11:30,160 Speaker 1: Lillard Portland wanted one fourteen to one oh eight and 208 00:11:30,200 --> 00:11:33,040 Speaker 1: Brooklyn's now dropped five of the last seven. Rangers beaten 209 00:11:33,040 --> 00:11:34,920 Speaker 1: by the Kings in l A three to one. The 210 00:11:35,000 --> 00:11:38,120 Speaker 1: Dave Gettleman retirement made official. Giants now looking for a 211 00:11:38,160 --> 00:11:41,280 Speaker 1: new general manager. Of three coaches just got fired Matt 212 00:11:41,360 --> 00:11:44,360 Speaker 1: Nagge in Chicago, Mike Zimmer in Minnesota, and in a surprise, 213 00:11:44,440 --> 00:11:47,920 Speaker 1: Brian flora Is in Miami. Dolphins finished the season going 214 00:11:47,960 --> 00:11:51,680 Speaker 1: eight and one. John Stash where Bloomberg sports Nathan, all right, John, 215 00:11:51,720 --> 00:11:53,440 Speaker 1: thank you right now. It's in p Futures are up 216 00:11:53,480 --> 00:11:56,320 Speaker 1: fifteen points, sound features of seventy three. Nast A Futures 217 00:11:56,320 --> 00:11:59,160 Speaker 1: are hired by eighty four points. Ten your treasury, little 218 00:11:59,240 --> 00:12:03,280 Speaker 1: change the yield one point seven five percent. This is 219 00:12:03,320 --> 00:12:09,880 Speaker 1: Bloomberg Bloomberg eleven three oh weather sunny but cold today 220 00:12:09,920 --> 00:12:13,120 Speaker 1: behind your twenty Tomorrow partly sunny hid in your forty 221 00:12:13,160 --> 00:12:16,800 Speaker 1: degrees will be mostly cloudya near forty on Thursday seventeen. 222 00:12:17,520 --> 00:12:23,440 Speaker 1: Is the current temperature in Central Park Markets. Headlines and 223 00:12:23,559 --> 00:12:26,840 Speaker 1: breaking news twenty four hours a day at Bloomberg dot com, 224 00:12:26,960 --> 00:12:30,040 Speaker 1: the Bloomberg Business at and at Bloomberg Quick Take. This 225 00:12:30,440 --> 00:12:39,400 Speaker 1: is a Bloomberg Business flash and I'm paren Moscow. European 226 00:12:39,480 --> 00:12:42,400 Speaker 1: stocks are bouncing back from their biggest decline in six weeks, 227 00:12:42,440 --> 00:12:44,920 Speaker 1: as treasury yields steady a day before a key US 228 00:12:44,960 --> 00:12:47,840 Speaker 1: inflation reading and US futures are higher this morning. We 229 00:12:47,920 --> 00:12:50,280 Speaker 1: checked the markets every fifteen minutes throughout the trading day 230 00:12:50,679 --> 00:12:52,959 Speaker 1: on Bloomberg. U S and P future is up fifteen 231 00:12:52,960 --> 00:12:55,240 Speaker 1: points and down futures up seventy four and a stack 232 00:12:55,320 --> 00:12:58,760 Speaker 1: futures up seventy six. The decks in Germany's up one 233 00:12:58,920 --> 00:13:01,200 Speaker 1: attend year treasury up one thirty second he at one 234 00:13:01,200 --> 00:13:04,160 Speaker 1: point seven five percent yield on the two year point 235 00:13:04,240 --> 00:13:07,240 Speaker 1: nine zero percent. Nimax screwed oil is of one and 236 00:13:07,280 --> 00:13:09,600 Speaker 1: a half percent. Of a dollar sixteen at seventy nine 237 00:13:09,600 --> 00:13:12,319 Speaker 1: dollars thirty nine cents of Barrel comic school, the third 238 00:13:12,320 --> 00:13:14,680 Speaker 1: of upper cent or six dollars twenty cents at eighteen 239 00:13:14,679 --> 00:13:17,360 Speaker 1: o five. Announced the euro one point one three three 240 00:13:17,360 --> 00:13:19,959 Speaker 1: two against the dollar, British bound one point three six 241 00:13:20,320 --> 00:13:22,680 Speaker 1: and the end one fifteen point four four and looking 242 00:13:22,720 --> 00:13:26,840 Speaker 1: at bitcoin and this morning at forty one eight hundred dollars, 243 00:13:26,840 --> 00:13:29,840 Speaker 1: that's up about two tents of percent and active as 244 00:13:29,840 --> 00:13:32,400 Speaker 1: a great to buy wind River from TPG Capital for 245 00:13:32,440 --> 00:13:35,520 Speaker 1: four point three billion dollars in cash. That's a Bloomberg 246 00:13:35,520 --> 00:13:38,000 Speaker 1: business flash. Now here's Michael Barr with more on what's 247 00:13:38,040 --> 00:13:40,920 Speaker 1: going on around the world. Michael, thank you very much. Cameron. 248 00:13:40,960 --> 00:13:44,080 Speaker 1: Investigators are trying to determine why safety doors failed to 249 00:13:44,160 --> 00:13:46,360 Speaker 1: close in a New York City high rise when the 250 00:13:46,400 --> 00:13:50,480 Speaker 1: deadly fire broke out. Failures allowed thick, smoked billow through 251 00:13:50,520 --> 00:13:54,200 Speaker 1: the tower and kill seventeen people. The Republican National Committee 252 00:13:54,200 --> 00:13:57,120 Speaker 1: suited the New York City area over a law that 253 00:13:57,240 --> 00:14:01,079 Speaker 1: will give non citizens the right to vote in local elections, 254 00:14:01,360 --> 00:14:06,320 Speaker 1: calling it a blatant attack on election integrity. Chicago's students 255 00:14:06,440 --> 00:14:09,720 Speaker 1: will be back in the classroom tomorrow. The teachers union 256 00:14:09,760 --> 00:14:11,959 Speaker 1: and the city reached a deal about the COVID safety 257 00:14:11,960 --> 00:14:16,440 Speaker 1: protocols that led to in person classes closing January five. 258 00:14:16,840 --> 00:14:20,080 Speaker 1: Real estate air and convicted murderer Robert Durst has died 259 00:14:20,120 --> 00:14:23,560 Speaker 1: of cardiac arrest at age seventy eight. Georgia beat Alabama 260 00:14:23,600 --> 00:14:27,600 Speaker 1: thirty three eighteen to win college football's national championship. In 261 00:14:27,640 --> 00:14:30,240 Speaker 1: the NBA, the Knicks and Celtics won. The Nets lost 262 00:14:30,600 --> 00:14:33,120 Speaker 1: in the NHL, the Bruins beat the Capitol seven three, 263 00:14:33,160 --> 00:14:36,240 Speaker 1: the Rangers lost. Global news twenty four hours a day 264 00:14:36,280 --> 00:14:39,000 Speaker 1: on a or and on Bloomberg Quick Take, powered by 265 00:14:39,040 --> 00:14:41,720 Speaker 1: more than twenty seven hundred journalists and analysts more than 266 00:14:41,720 --> 00:14:44,840 Speaker 1: a hundred twenty countries. Michael Barr, this is Bloomberg. Nathan 267 00:14:44,880 --> 00:14:46,560 Speaker 1: all right, Michael, thank you for coming up to six 268 00:14:46,640 --> 00:14:49,800 Speaker 1: twenty on Wall Street Live from the Bloomberg Interacted Broker Studios. 269 00:14:49,840 --> 00:14:51,920 Speaker 1: This is Bloomberg at daybreak. We want to get more 270 00:14:51,960 --> 00:14:54,840 Speaker 1: now on the pandemic as the O macron variant threatens 271 00:14:54,920 --> 00:14:58,280 Speaker 1: to overwhelm the US health system. Dr Bati and Sony 272 00:14:58,400 --> 00:15:00,880 Speaker 1: is with us this morning. Associate U sort of emergency 273 00:15:00,920 --> 00:15:04,120 Speaker 1: medicine at Johns Hopkins University doctor, It's good to have 274 00:15:04,160 --> 00:15:06,760 Speaker 1: you with us this morning. As the Washington Post is 275 00:15:06,840 --> 00:15:09,680 Speaker 1: reporting the number of people in the hospital with COVID 276 00:15:09,760 --> 00:15:13,200 Speaker 1: nineteen is close to a pandemic record. Where do you 277 00:15:13,240 --> 00:15:16,720 Speaker 1: see things as far as this O macron wave is going. 278 00:15:17,080 --> 00:15:20,800 Speaker 1: Is our health system equipped to handle it? Our health 279 00:15:20,880 --> 00:15:23,960 Speaker 1: system is equipped to handle because it has to handle it, 280 00:15:24,200 --> 00:15:29,160 Speaker 1: not because we have unlimited resources, but we will make resources. 281 00:15:29,200 --> 00:15:32,880 Speaker 1: There's innovations happening around the country UM, deployment of national 282 00:15:32,920 --> 00:15:37,360 Speaker 1: god and declassed croation of states of emergency, UM employing 283 00:15:37,560 --> 00:15:41,040 Speaker 1: non medical workers to take on clinical roles, and an 284 00:15:41,040 --> 00:15:44,840 Speaker 1: expansion of bed capacity of hospitals. So people are rallying. 285 00:15:45,400 --> 00:15:48,360 Speaker 1: Every health system is trying to be innovative and how 286 00:15:48,400 --> 00:15:51,880 Speaker 1: to optimize the performance of our hospitals. And so we 287 00:15:51,920 --> 00:15:55,400 Speaker 1: will handle it because we have to handle it. And 288 00:15:55,440 --> 00:15:57,960 Speaker 1: we are seeing evidence, at least in New York City 289 00:15:57,960 --> 00:16:00,960 Speaker 1: that COVID maybe peaking. We've seen this seven day average 290 00:16:00,960 --> 00:16:05,080 Speaker 1: of e ER visits dropped sharply since last month when 291 00:16:05,200 --> 00:16:09,120 Speaker 1: the O macron variant was first identified. Can we be 292 00:16:09,200 --> 00:16:12,440 Speaker 1: confident that this O macron wave is going to pass 293 00:16:12,480 --> 00:16:16,960 Speaker 1: as quickly as it's emerged in this country and we 294 00:16:17,080 --> 00:16:20,080 Speaker 1: really hope so consistently throughout the pandemic. We've looked at 295 00:16:20,080 --> 00:16:23,520 Speaker 1: other countries such as the United Kingdom and South Africa 296 00:16:23,560 --> 00:16:25,960 Speaker 1: who had the waves for us UM. In the South 297 00:16:25,960 --> 00:16:29,920 Speaker 1: Africa in particular, that wave lasted around thirty days. I 298 00:16:30,000 --> 00:16:33,000 Speaker 1: think in the United States that's foot complicated by the 299 00:16:33,000 --> 00:16:36,040 Speaker 1: winter holidays and then the sloo being s traveling also. 300 00:16:36,520 --> 00:16:38,440 Speaker 1: But yes, UM, you know we don't need to get 301 00:16:38,480 --> 00:16:41,960 Speaker 1: through this at grace and patients UM, and we shall 302 00:16:42,040 --> 00:16:45,320 Speaker 1: also pass UM. We also note that the EER visits 303 00:16:45,360 --> 00:16:48,240 Speaker 1: have been decreased as individuals are being more comfortable with 304 00:16:48,400 --> 00:16:51,880 Speaker 1: relying on rapid tests at home UM and avoiding the 305 00:16:51,920 --> 00:16:55,480 Speaker 1: e off in non emergency cases. All at the same time, 306 00:16:55,640 --> 00:16:57,800 Speaker 1: A tests have been hard to come by in a 307 00:16:57,880 --> 00:17:01,680 Speaker 1: plenty of places across this country. How has that complicated 308 00:17:01,680 --> 00:17:05,360 Speaker 1: the response to this variant? Well, I mean they needs 309 00:17:05,440 --> 00:17:08,840 Speaker 1: they are acting blind, right, So without effective testing strategies, 310 00:17:09,359 --> 00:17:11,960 Speaker 1: you as an individual, I'm sure if you have COVID 311 00:17:11,960 --> 00:17:14,119 Speaker 1: and do not have COVID, and that's a more likely 312 00:17:14,160 --> 00:17:18,560 Speaker 1: to spread COVID to other individuals. UM. There's also nequity 313 00:17:18,640 --> 00:17:22,720 Speaker 1: with test distribution test being on average twenty dollars per test, 314 00:17:23,160 --> 00:17:25,919 Speaker 1: means that the poorest of our society, those who perhaps 315 00:17:25,960 --> 00:17:28,800 Speaker 1: would need them the most due to their living situations 316 00:17:28,840 --> 00:17:32,560 Speaker 1: and inability to quarantine, do not have access to testing. 317 00:17:33,960 --> 00:17:36,919 Speaker 1: We've heard from Fiser's CEO, Albert Borla, saying that his 318 00:17:37,040 --> 00:17:41,160 Speaker 1: company is or has been working on an omicron specific 319 00:17:41,320 --> 00:17:45,120 Speaker 1: vaccine and coming up with a hybrid shot that combines 320 00:17:45,200 --> 00:17:48,840 Speaker 1: the original formulation with something tailored to this new variant. 321 00:17:48,880 --> 00:17:51,080 Speaker 1: Do you think that's going to be something that's necessary 322 00:17:51,119 --> 00:17:54,600 Speaker 1: to get us over this omicron wave, Well, not just 323 00:17:54,720 --> 00:17:58,080 Speaker 1: the omicron wave, but it may provide better resilience to 324 00:17:58,359 --> 00:18:02,840 Speaker 1: delta also, And or you are variants, variants continue to evolve, 325 00:18:03,280 --> 00:18:06,640 Speaker 1: so must have vaccines, and we do this annually anyway 326 00:18:06,720 --> 00:18:09,639 Speaker 1: with the influenza virus, and that has been a successful 327 00:18:09,680 --> 00:18:13,840 Speaker 1: strategy to prevent influenza surges. Sounds like you're thinking that 328 00:18:13,840 --> 00:18:16,200 Speaker 1: we're going to need booster shots indefinitely. Is that what 329 00:18:16,240 --> 00:18:19,520 Speaker 1: you're saying? That is what I'm saying. It is likely 330 00:18:19,560 --> 00:18:22,959 Speaker 1: that this virus will continue to evolve, especially as we 331 00:18:23,000 --> 00:18:26,320 Speaker 1: do not have vaccine access globally, and so we need 332 00:18:26,400 --> 00:18:29,080 Speaker 1: to be prepared for future waves and future variants of 333 00:18:29,200 --> 00:18:32,480 Speaker 1: concern in our last minute here, doctor, there's some talk 334 00:18:32,880 --> 00:18:36,880 Speaker 1: in parts of the world about starting to discuss thinking 335 00:18:37,040 --> 00:18:42,080 Speaker 1: of COVID as endemic rather than a pandemic. Is this 336 00:18:42,240 --> 00:18:44,760 Speaker 1: the right time to think about that, when we still 337 00:18:44,960 --> 00:18:48,880 Speaker 1: are dealing with this omicron variant potentially other variants down 338 00:18:48,920 --> 00:18:53,479 Speaker 1: the line. Absolutely not so in my opinion. And and 339 00:18:53,800 --> 00:18:57,800 Speaker 1: virus is endemic when it's impact on society is predictable, 340 00:18:58,160 --> 00:19:02,600 Speaker 1: and the variation and when it occurs if predictable. Also, 341 00:19:03,119 --> 00:19:06,200 Speaker 1: COVID is not that right now. It is crippling our society. 342 00:19:06,240 --> 00:19:09,440 Speaker 1: It's crippling our health systems. Weally don't know what else 343 00:19:09,440 --> 00:19:11,920 Speaker 1: is virus can throw at us. And I worry that 344 00:19:12,000 --> 00:19:16,760 Speaker 1: by labeling it endemic means that individuals will become complacent. 345 00:19:17,280 --> 00:19:20,479 Speaker 1: So this is not the time for complacency. We still 346 00:19:20,480 --> 00:19:23,480 Speaker 1: need to actively fight the virus. We have the tools, 347 00:19:23,560 --> 00:19:27,520 Speaker 1: we have, vaccines, masking, testing, social distance saying. I think 348 00:19:27,520 --> 00:19:32,440 Speaker 1: we'll get this soon, especially as under five population become vaccinated. 349 00:19:33,160 --> 00:19:35,119 Speaker 1: But right now we just need to get through this 350 00:19:35,280 --> 00:19:37,840 Speaker 1: way and that it should be our still focus now. 351 00:19:37,920 --> 00:19:40,720 Speaker 1: Let's hope we get there soon. Dr Han Sody, thank you, 352 00:19:40,840 --> 00:19:43,800 Speaker 1: as always for your insights. Dr Baki Han Sody's Associate 353 00:19:43,840 --> 00:19:47,640 Speaker 1: Professor of Emergency Medicine at the Johns Hopkins University Bloomberg 354 00:19:47,800 --> 00:19:51,240 Speaker 1: School of Public Health, which is supported by Michael Bloomberg. 355 00:19:51,280 --> 00:19:54,520 Speaker 1: He's the founder and majority owner of Bloomberg Radio's parent company, 356 00:19:54,840 --> 00:19:58,879 Speaker 1: Bloomberg Lp. SMP futures up fifteen points, Dow futures and 357 00:19:59,000 --> 00:20:02,240 Speaker 1: NASTAC futures at the moment, both up seventy seven points. 358 00:20:02,320 --> 00:20:08,639 Speaker 1: You're listening to Bloomberg day Berg Bloomberg eleven three oh 359 00:20:08,640 --> 00:20:12,200 Speaker 1: weather sunny but cold today, only near twenty degrees, partly sunny, 360 00:20:12,280 --> 00:20:15,000 Speaker 1: upper thirties Tomorrow. We'll get up to near forty on 361 00:20:15,080 --> 00:20:19,080 Speaker 1: a mostly cloudy Thursday. Right now seventeen degrees in Central Park. 362 00:20:22,119 --> 00:20:26,640 Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York. 363 00:20:26,760 --> 00:20:31,400 Speaker 1: Bloomberg Living Free to Washington, d C. Bloomberg to Boston, 364 00:20:31,520 --> 00:20:34,760 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg N 365 00:20:35,000 --> 00:20:38,080 Speaker 1: sixteen to the country, Sirius XM to the one nine ten, 366 00:20:38,200 --> 00:20:41,720 Speaker 1: and around the globe. The Bloomberg Business and Bloomberg Radio 367 00:20:41,840 --> 00:20:50,960 Speaker 1: dot Com. This is Bloomberg daybreak. It's six thirty on 368 00:20:51,000 --> 00:20:54,280 Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow, 369 00:20:54,359 --> 00:20:57,200 Speaker 1: and we're just about three hours away from the open 370 00:20:57,240 --> 00:21:00,360 Speaker 1: of US trading. Time for the five things you need 371 00:21:00,440 --> 00:21:03,720 Speaker 1: to notice start your day. Brought to you by Interactive 372 00:21:03,760 --> 00:21:06,960 Speaker 1: Broker's Trade Crypto for less coin with commissions just twelve 373 00:21:07,000 --> 00:21:10,320 Speaker 1: to eighteen basis points and no hidden spreads or markups. 374 00:21:10,560 --> 00:21:14,240 Speaker 1: Learn more at ib k r dot com slash crypto First. 375 00:21:14,359 --> 00:21:18,240 Speaker 1: US futures are higher ahead of confirmation hearings for J. Powell. 376 00:21:18,480 --> 00:21:21,200 Speaker 1: The Fed chair plans tels senators at the Central Bank 377 00:21:21,240 --> 00:21:24,800 Speaker 1: will prevent higher inflation from becoming intrenched. And males is 378 00:21:24,840 --> 00:21:28,680 Speaker 1: a Washington policy Analysted Raymond James. J Powell is getting 379 00:21:28,720 --> 00:21:32,480 Speaker 1: confirmed in his job is to give Republicans a reason 380 00:21:32,600 --> 00:21:36,320 Speaker 1: to stick with him, to vote for his reconfirmation. If 381 00:21:36,359 --> 00:21:39,360 Speaker 1: you are J Powell, you're talking about inflation, if you're 382 00:21:39,359 --> 00:21:42,120 Speaker 1: talking about what you're going to do next and miles 383 00:21:42,160 --> 00:21:45,080 Speaker 1: of Raymond James spoke with our Washington correspondent Joe Matthew 384 00:21:45,080 --> 00:21:48,160 Speaker 1: on Bloomberg sound On. Catch the program weekdays at five 385 00:21:48,200 --> 00:21:51,640 Speaker 1: pm Eastern on Bloomberg Radio meantime, Karen, the drum beat 386 00:21:51,640 --> 00:21:54,240 Speaker 1: for more interest rate hikes from the Fed is getting louder. 387 00:21:54,240 --> 00:21:57,639 Speaker 1: Bloomberg's John Tucker joins US Live at Details John Nathan 388 00:21:57,680 --> 00:22:00,200 Speaker 1: Schwampson to get the fence target will be eight eight 389 00:22:00,200 --> 00:22:02,880 Speaker 1: basis points higher by the end of this year, assigned 390 00:22:02,920 --> 00:22:05,879 Speaker 1: the markets making in three hikes plus the possibility of 391 00:22:05,880 --> 00:22:09,040 Speaker 1: a fourth. Former New York Fed President Bill Dudley says 392 00:22:09,040 --> 00:22:12,119 Speaker 1: the Santo Bank needs to get more hawkish. JP Morrigan 393 00:22:12,160 --> 00:22:15,640 Speaker 1: and Goldman Sachs are forecasting for rate increases this year, 394 00:22:16,000 --> 00:22:18,960 Speaker 1: and tomorrow's CPI report could put more pressure on the Fed, 395 00:22:19,200 --> 00:22:22,199 Speaker 1: with estimates calling for an annual inflation rate north of 396 00:22:22,320 --> 00:22:25,680 Speaker 1: seven percent in New York. On John Tucker Bloomberg Daybreak, 397 00:22:25,760 --> 00:22:28,520 Speaker 1: All right, John, thank you. As inflation picks up, confidence 398 00:22:28,560 --> 00:22:31,199 Speaker 1: in the global economic recovery appears to be fading. The 399 00:22:31,240 --> 00:22:33,720 Speaker 1: details on that now from Bloomberg's or need a Young. 400 00:22:33,920 --> 00:22:36,960 Speaker 1: A World Economic Forum survey finds just one in six 401 00:22:37,000 --> 00:22:40,640 Speaker 1: government and business leaders are optimistic on the global recovery, 402 00:22:40,920 --> 00:22:44,080 Speaker 1: and just one in ten things worldwide economic expansion will 403 00:22:44,119 --> 00:22:47,240 Speaker 1: pick up speed. The Global Risks Report sites the pandemic 404 00:22:47,320 --> 00:22:50,680 Speaker 1: climate change and rising social tensions among the biggest concerns, 405 00:22:50,920 --> 00:22:53,960 Speaker 1: and those polls wants to see greater coordination among leaders 406 00:22:53,960 --> 00:22:56,679 Speaker 1: to try to solve the world's problems. I'm gonna need 407 00:22:56,720 --> 00:22:59,240 Speaker 1: a young Bloomberg daybreak Rita. Thanks. When it comes to 408 00:22:59,320 --> 00:23:02,080 Speaker 1: the pandemic, Fiser's working on a new vaccine. The company's 409 00:23:02,080 --> 00:23:04,920 Speaker 1: developing a hybrid shot, combining its original vaccine with a 410 00:23:04,960 --> 00:23:07,960 Speaker 1: formula that chields against the omicron variant. Fiser says that 411 00:23:07,960 --> 00:23:10,520 Speaker 1: will approach US regulators in March for clearance of the shot. 412 00:23:10,920 --> 00:23:13,880 Speaker 1: And Nathan on the political front, lawmakers have the North 413 00:23:13,920 --> 00:23:16,600 Speaker 1: Stream to pipeline in their sites to send a could 414 00:23:16,640 --> 00:23:18,960 Speaker 1: vote this week to impose new sanctions on the gas 415 00:23:18,960 --> 00:23:22,600 Speaker 1: pipeline that links Russia and Germany. And that's five things 416 00:23:22,680 --> 00:23:25,080 Speaker 1: you need to notice start your day. Brought to you 417 00:23:25,119 --> 00:23:28,840 Speaker 1: by Interactive Brokers Again, Futures are higher this morning, and 418 00:23:28,880 --> 00:23:31,960 Speaker 1: straight ahead your latest local headlines plus the check of sports, 419 00:23:32,080 --> 00:23:40,320 Speaker 1: and this is Bloomberg makes Karen sixty three on Wall Street, 420 00:23:40,400 --> 00:23:43,040 Speaker 1: seventeen degrees in Central Park, still dealing with a bad 421 00:23:43,119 --> 00:23:45,879 Speaker 1: tractor trailer crash got the northbound Deacon shut down at 422 00:23:45,880 --> 00:23:48,560 Speaker 1: a hundred thirty nine Michael Barr is here with more 423 00:23:48,600 --> 00:23:50,480 Speaker 1: on what's going on in New York and around the world. 424 00:23:50,520 --> 00:23:53,080 Speaker 1: Good morning, Michael, Good morning Nathan. Tenants of the Bronx 425 00:23:53,119 --> 00:23:56,360 Speaker 1: department building where a deadly fire broke out Sunday had 426 00:23:56,440 --> 00:23:59,800 Speaker 1: complained about the lack of heat, a broken radiator, and 427 00:23:59,800 --> 00:24:02,760 Speaker 1: a door that did not close properly in the months 428 00:24:02,800 --> 00:24:06,520 Speaker 1: before the blaze. According to city records, City officials say 429 00:24:06,600 --> 00:24:09,480 Speaker 1: the fire appeared to have come from a malfunctioning space 430 00:24:09,480 --> 00:24:13,040 Speaker 1: heater in an apartment, where residents fled without closing the door, 431 00:24:13,080 --> 00:24:16,040 Speaker 1: and that sent black smoke throughout the building. New York 432 00:24:16,080 --> 00:24:19,199 Speaker 1: Mayor Eric Adams this painful moment cantne it to a 433 00:24:19,240 --> 00:24:23,000 Speaker 1: purposeful moment, as we send the right message of something 434 00:24:23,000 --> 00:24:26,840 Speaker 1: as simple as closing the door. Mayor Adams says the 435 00:24:26,880 --> 00:24:30,240 Speaker 1: death soul of the fire has been lowered to seventeen dead. 436 00:24:30,840 --> 00:24:33,720 Speaker 1: New York's COVID nineteen infections may have reached a peak 437 00:24:33,760 --> 00:24:36,280 Speaker 1: about a month after the city's first case of the 438 00:24:36,320 --> 00:24:40,440 Speaker 1: omicron variant was identified. According to New York City Health 439 00:24:40,480 --> 00:24:44,399 Speaker 1: Department records, the seven day average of people visiting emergency 440 00:24:44,400 --> 00:24:48,159 Speaker 1: departments with COVID like illness has dipped significantly in all 441 00:24:48,280 --> 00:24:52,080 Speaker 1: time burrols since the end of December. Meanwhile, New Jersey 442 00:24:52,080 --> 00:24:56,560 Speaker 1: health officials say they may have eight thousand COVID related hospitalizations, 443 00:24:56,880 --> 00:25:00,440 Speaker 1: nearing the state's pandemic peak in the third week of January. 444 00:25:00,600 --> 00:25:04,720 Speaker 1: Governor Phil Murphy, we're recording more deaths tragically now, more 445 00:25:04,760 --> 00:25:07,760 Speaker 1: than at any point in the past year. And remember, 446 00:25:07,920 --> 00:25:11,680 Speaker 1: remember one year ago, we had only just begun our 447 00:25:11,760 --> 00:25:15,800 Speaker 1: vaccination efforts. Governor Murphy says. Many towns and cities in 448 00:25:15,800 --> 00:25:19,840 Speaker 1: New Jersey have reintroduced mask mandates. Chicago students planned to 449 00:25:19,840 --> 00:25:23,320 Speaker 1: resume classes tomorrow after leaders of the teachers Union accepted 450 00:25:23,320 --> 00:25:27,520 Speaker 1: a proposal with the district over nineteen COVID nineteen safety protocols. 451 00:25:27,840 --> 00:25:30,920 Speaker 1: Chicago Mayor Lori langfoot, some will ask whom one and 452 00:25:30,960 --> 00:25:35,359 Speaker 1: who lost? No one wins when our students are out 453 00:25:35,359 --> 00:25:37,919 Speaker 1: of the place where they can learn the best and 454 00:25:37,960 --> 00:25:40,720 Speaker 1: where they're safest. The deal still requires approval by the 455 00:25:40,840 --> 00:25:44,080 Speaker 1: union's full membership. North Korea has test fired a second 456 00:25:44,080 --> 00:25:46,600 Speaker 1: ballistic missile in less than a week. Bloomberg's Had Baxter 457 00:25:46,680 --> 00:25:50,240 Speaker 1: reports Kim John Un apparently trying to send a clear 458 00:25:50,280 --> 00:25:52,840 Speaker 1: sign that he meant what he said about having no 459 00:25:53,040 --> 00:25:55,720 Speaker 1: desire to enter into any kind of nuclear talks with 460 00:25:55,760 --> 00:25:58,800 Speaker 1: the US. It definitely a ratchets up tensions in the 461 00:25:58,840 --> 00:26:02,359 Speaker 1: region itself as well. The missile launch first was reported 462 00:26:02,359 --> 00:26:05,359 Speaker 1: by Japan's Coast Guard, then confirmed by South Korea's chiefs 463 00:26:05,359 --> 00:26:08,720 Speaker 1: of Staff. Japan's Prime Minister Fumio Kashta calls the launch 464 00:26:08,840 --> 00:26:12,800 Speaker 1: is extremely regrettable. Kim has announced his intent to develop 465 00:26:12,840 --> 00:26:17,520 Speaker 1: weapons that can evade interception by US technology. In San Francisco, 466 00:26:17,560 --> 00:26:20,080 Speaker 1: I'm at Baxter, Bloomberg Gay Break Global News twenty four 467 00:26:20,119 --> 00:26:22,760 Speaker 1: hours a day on air and on Bloomberg Quickdake, powered 468 00:26:22,760 --> 00:26:25,359 Speaker 1: by more than twenty seven under journalists and analyists more 469 00:26:25,400 --> 00:26:28,919 Speaker 1: than a d twenty countries. I'm Michael bar This is Bloomberg, Nathan, Michael, 470 00:26:29,000 --> 00:26:35,800 Speaker 1: Thank you, six thirty six on Wall Street Time for 471 00:26:35,800 --> 00:26:38,560 Speaker 1: Bloomberg Sports Update with John Stash all right, Nathan. Four 472 00:26:38,640 --> 00:26:41,720 Speaker 1: years ago, Georgia lost the National Championship Game to Alabama 473 00:26:41,760 --> 00:26:44,480 Speaker 1: and overtime, and then last month the Bulldogs perfect season 474 00:26:44,560 --> 00:26:48,040 Speaker 1: spoiled by the Crimson Tide in the SEC Championship game, 475 00:26:48,080 --> 00:26:51,399 Speaker 1: and Bama led last night late third quarter. Georgia then 476 00:26:51,440 --> 00:26:54,240 Speaker 1: went ahead a sixties seven yard run set up the 477 00:26:54,240 --> 00:26:57,840 Speaker 1: game's first touchdown. Fourth quarter, Crimson Tide regained the lead, 478 00:26:57,920 --> 00:27:01,320 Speaker 1: but then it was George's turn second at eighteen eight 479 00:27:01,359 --> 00:27:03,720 Speaker 1: eighteen to go to clock running band A leading by 480 00:27:03,760 --> 00:27:07,640 Speaker 1: five showing Blitz Street plays down up. Alabama is offside, 481 00:27:07,680 --> 00:27:11,120 Speaker 1: so here's a teap throw to the episode. It is 482 00:27:12,000 --> 00:27:18,880 Speaker 1: call par touchdown play eight, call forty yr TV. Later 483 00:27:18,920 --> 00:27:21,680 Speaker 1: another TV pass and then a seventy nine yard pick 484 00:27:21,760 --> 00:27:24,560 Speaker 1: six in the final min at Georgia ben Alabama in 485 00:27:24,560 --> 00:27:28,600 Speaker 1: Indianapolis thirty three to eighteen. First national championship for the 486 00:27:28,600 --> 00:27:31,840 Speaker 1: Bulldogs since nineteen eighty had the guard. Another big game 487 00:27:31,880 --> 00:27:34,200 Speaker 1: for r. J. Barretty at a thirty two point game 488 00:27:34,280 --> 00:27:36,960 Speaker 1: last week, also that game winning buzzer beater and thirty 489 00:27:37,040 --> 00:27:40,200 Speaker 1: one points last night, Nicks beat the Spurs one eleven 490 00:27:40,359 --> 00:27:43,000 Speaker 1: nineties six. Nets lost in Portland one fourteen to one 491 00:27:43,000 --> 00:27:45,960 Speaker 1: oh eight Kevin Durant in defeat at twenty eight Kyrie 492 00:27:46,000 --> 00:27:48,359 Speaker 1: Irving's second game of the season. He played forty minutes, 493 00:27:48,680 --> 00:27:50,840 Speaker 1: scored twenty two. Rangers lost in l A to the 494 00:27:50,920 --> 00:27:53,720 Speaker 1: King three to one. Black Monday in the NFL, three 495 00:27:53,760 --> 00:27:57,199 Speaker 1: coaches got fired. Matt Naggey in Chicago, Mike Zimmer in Minnesota, 496 00:27:57,480 --> 00:28:00,919 Speaker 1: and in a surprise Brian Flores in Miami. Joe Judge. 497 00:28:00,920 --> 00:28:03,359 Speaker 1: He did meet with Giants owner John Mara on the 498 00:28:03,440 --> 00:28:06,000 Speaker 1: day of the day gentleman retirement was made official. Mayor 499 00:28:06,080 --> 00:28:07,359 Speaker 1: and the Giants have a gun to search for a 500 00:28:07,359 --> 00:28:10,720 Speaker 1: new general manager. Don Maynard passed away at eighties six. 501 00:28:10,800 --> 00:28:13,159 Speaker 1: Drafted by the Giants, they cut the Maynard went to 502 00:28:13,160 --> 00:28:16,080 Speaker 1: the Jets, became a Hall of Fame wide receiver John 503 00:28:16,160 --> 00:28:19,160 Speaker 1: Dash were Bloomberg Sports Nathan all Right, John, Thanks six 504 00:28:19,200 --> 00:28:20,960 Speaker 1: thirty seven on Wall Street. Time to take a look 505 00:28:20,960 --> 00:28:23,240 Speaker 1: at stocks, some of the names moving in the pre market. 506 00:28:23,240 --> 00:28:27,160 Speaker 1: Bloomberg Radio and TV markets correspondent Creedy Goopta joins us 507 00:28:27,280 --> 00:28:32,280 Speaker 1: as some earnings news from CVS crosses the Bloomberg terminal. Creedy, 508 00:28:32,320 --> 00:28:34,879 Speaker 1: they absolutely do you have CVS coming out and actually 509 00:28:34,920 --> 00:28:38,520 Speaker 1: boosting their EPs guidance. It looks like they have actually 510 00:28:38,560 --> 00:28:41,400 Speaker 1: beat those estimates. Those shares are they were moving a 511 00:28:41,400 --> 00:28:43,320 Speaker 1: should they now they are pairing some of those initial 512 00:28:43,320 --> 00:28:46,080 Speaker 1: games on the headlines now about flat the tickers CVS. 513 00:28:46,120 --> 00:28:47,960 Speaker 1: But keep an eye on this because it is of 514 00:28:48,000 --> 00:28:49,920 Speaker 1: course going to be the kickoff of earning season, so 515 00:28:49,960 --> 00:28:51,840 Speaker 1: you will see a lot of movement when it comes 516 00:28:51,840 --> 00:28:54,240 Speaker 1: to regular trading. That being said, Nathan, we also have 517 00:28:54,440 --> 00:28:57,080 Speaker 1: some analyst calls that are moving stocks in a pretty 518 00:28:57,080 --> 00:28:59,000 Speaker 1: big way. A m d S top of my list, 519 00:28:59,120 --> 00:29:01,640 Speaker 1: up two per cent in the pre market. This comes 520 00:29:01,680 --> 00:29:04,400 Speaker 1: after Key Bank upgrades the chip maker to overweight from 521 00:29:04,400 --> 00:29:06,680 Speaker 1: sector weight, putting a price target at a hundred and 522 00:29:06,720 --> 00:29:09,000 Speaker 1: fifty five dollars to share. The last close was a 523 00:29:09,080 --> 00:29:11,640 Speaker 1: hundred and thirty two dollars. The analyst thing that the 524 00:29:11,680 --> 00:29:14,920 Speaker 1: company is set to benefit from robust cloud data center 525 00:29:14,960 --> 00:29:18,680 Speaker 1: growth in two of a quote high teens per centage. 526 00:29:18,680 --> 00:29:21,160 Speaker 1: That is quite the vote of confidence from Key Bank. 527 00:29:21,440 --> 00:29:23,680 Speaker 1: And similar story when it comes to Las Vegas sans 528 00:29:23,800 --> 00:29:27,640 Speaker 1: LVS up three percent. Remember that yesterday Bank of America 529 00:29:27,720 --> 00:29:31,040 Speaker 1: had actually downgraded the stock JP Morgan, however, raising it 530 00:29:31,080 --> 00:29:33,520 Speaker 1: to an overweight from a neutral, announcing a forty eight 531 00:29:33,560 --> 00:29:36,240 Speaker 1: dollar price target, giving a little bit of a tailwind 532 00:29:36,480 --> 00:29:38,560 Speaker 1: to the stock in the pre market. And moving on 533 00:29:38,640 --> 00:29:41,440 Speaker 1: to Intel I n tc S your ticker up one 534 00:29:41,480 --> 00:29:43,120 Speaker 1: and a half percent in the pre market. The chip 535 00:29:43,160 --> 00:29:48,000 Speaker 1: maker hiring Microns. David Zensner asked the fl this is 536 00:29:48,000 --> 00:29:50,640 Speaker 1: a big part of the big Intel shakeup at the top. 537 00:29:50,800 --> 00:29:53,200 Speaker 1: And I'm gonna end here with American Airlines up one 538 00:29:53,200 --> 00:29:55,760 Speaker 1: point four percent. A l is your taker after Morgan 539 00:29:55,840 --> 00:29:59,600 Speaker 1: Stanley continues to have a bullish view on US airline sector. 540 00:29:59,640 --> 00:30:03,520 Speaker 1: Expect unquote normal service to resume in two and accelerate 541 00:30:03,560 --> 00:30:05,640 Speaker 1: in the back half to set up for a stronger year. 542 00:30:05,840 --> 00:30:09,880 Speaker 1: In also upgrades American Airlines equal weight, all trimming targets 543 00:30:09,880 --> 00:30:13,240 Speaker 1: for several other companies. Alright, so a few analyst upgrades there. 544 00:30:13,240 --> 00:30:15,640 Speaker 1: Do we have any downgrades this morning? We can't have 545 00:30:15,720 --> 00:30:19,280 Speaker 1: any upgrades without any down grade. Absolutely. New Core is 546 00:30:19,320 --> 00:30:21,120 Speaker 1: the one that caught my I. N U ease the 547 00:30:21,160 --> 00:30:24,920 Speaker 1: Taker down one point four percent after the steelmaker was 548 00:30:24,960 --> 00:30:28,360 Speaker 1: downgraded to underperform from peer perform over at Wolf Research, 549 00:30:28,400 --> 00:30:30,720 Speaker 1: putting a price target of a hundred and two dollars. 550 00:30:30,920 --> 00:30:35,120 Speaker 1: The analysts quote most excited about downstream specialty medals names. 551 00:30:35,280 --> 00:30:38,840 Speaker 1: But he's quote a trifecta of bad news for steel names. 552 00:30:38,840 --> 00:30:40,720 Speaker 1: So of course New Court falling under that. N you 553 00:30:40,800 --> 00:30:42,960 Speaker 1: ease the Taker once again, down one point four percent. 554 00:30:43,080 --> 00:30:46,000 Speaker 1: Nathan all Right, Bloomberg Radio and TV Markets Correspondent, Creety 555 00:30:46,040 --> 00:30:48,360 Speaker 1: Gupta with us this morning and taking a look at 556 00:30:48,400 --> 00:30:51,440 Speaker 1: stocks as a whole. Ahead of the open, futures are 557 00:30:51,520 --> 00:30:54,440 Speaker 1: moving higher, with SMP futures up seventeen points right now 558 00:30:54,520 --> 00:30:58,760 Speaker 1: down futures up, NASTAC futures are higher by eighty three points, 559 00:30:58,760 --> 00:31:01,440 Speaker 1: and the tenure treasury is up two thirty seconds. The 560 00:31:01,520 --> 00:31:05,960 Speaker 1: yield one point seven five. Reiterating the breaking news, CVS 561 00:31:06,000 --> 00:31:09,720 Speaker 1: has upgraded its forecast for adjusted earnings per share uh 562 00:31:09,800 --> 00:31:13,880 Speaker 1: at a level that beat the average analyst estimate. CVS 563 00:31:13,920 --> 00:31:17,440 Speaker 1: shares in the pre market are little changed. You're listening 564 00:31:17,760 --> 00:31:24,920 Speaker 1: to Bloomberg Bloomberg eleven three oh Weather sunny but cold today, 565 00:31:24,960 --> 00:31:27,800 Speaker 1: the high only near twenty tomorrow, partly sunny on your 566 00:31:27,800 --> 00:31:30,120 Speaker 1: forty degrees and will be near forty on Thursday and 567 00:31:30,240 --> 00:31:37,760 Speaker 1: or mostly cloudy, sky clear right now seventeen degrees. Markets, 568 00:31:37,840 --> 00:31:40,920 Speaker 1: headlines and breaking news twenty four hours a day at 569 00:31:40,960 --> 00:31:44,360 Speaker 1: Bloomberg dot Com, for Bloomberg Business at and at Bloomberg 570 00:31:44,400 --> 00:31:54,240 Speaker 1: Quick Tape. He's a Bloomberg Business lash and I'm Karen Moscow. 571 00:31:54,360 --> 00:31:56,120 Speaker 1: Future is on the rise. This morning, we got to 572 00:31:56,160 --> 00:31:58,520 Speaker 1: the first Word Breaking news desk for today's morning call. 573 00:31:58,640 --> 00:32:02,560 Speaker 1: Here's Bill Maloney, Bill, good boarding and good morning, Karen. 574 00:32:02,560 --> 00:32:04,560 Speaker 1: That's right. US features are in the green right now, 575 00:32:04,560 --> 00:32:07,840 Speaker 1: with doubt features of ninety three point sides game seventeen. Well. 576 00:32:07,880 --> 00:32:10,920 Speaker 1: The NASDA futures are higher by eight four The US 577 00:32:11,160 --> 00:32:14,120 Speaker 1: tenure yield at one point seven six percent, Gold is up, 578 00:32:14,160 --> 00:32:18,280 Speaker 1: for oil is climbing, and bigcoin is little changed. Japan 579 00:32:18,360 --> 00:32:21,120 Speaker 1: felt point nine percent overnight, while up markets are also 580 00:32:21,200 --> 00:32:23,640 Speaker 1: in the green, led by one percent gains in France 581 00:32:23,720 --> 00:32:26,360 Speaker 1: and Germany. Back in the US on the economic front, 582 00:32:26,360 --> 00:32:29,560 Speaker 1: at ten o'clock, the Powell's nomination hearing begins, and regarding 583 00:32:29,600 --> 00:32:32,920 Speaker 1: earnings for Albertson's to report in the pre market and 584 00:32:33,120 --> 00:32:36,440 Speaker 1: under news Goldman Saxon UBS reiterated their bullish calls on 585 00:32:36,640 --> 00:32:39,680 Speaker 1: equities and wrapping things up. Alco was because the hold 586 00:32:39,720 --> 00:32:42,840 Speaker 1: over at Deutsche Bank, and he raised overweight at key Bank. 587 00:32:43,200 --> 00:32:45,920 Speaker 1: City Group is bullish on my cow, but downgraded Wind 588 00:32:46,160 --> 00:32:50,280 Speaker 1: Resorts on evaluation, and IBM was cut to sell over 589 00:32:50,360 --> 00:32:53,520 Speaker 1: at UBS Live from the first Breaking News stas com 590 00:32:53,600 --> 00:32:56,160 Speaker 1: Bill Maloney, Karen play Bill, thank you, and here live 591 00:32:56,200 --> 00:32:59,040 Speaker 1: breaking news over your Bloomberg time, Squawk on your terminal 592 00:32:59,320 --> 00:33:02,320 Speaker 1: squ a w K and that's a Bloomberg business flash. 593 00:33:02,440 --> 00:33:04,560 Speaker 1: Now here's Michael Barr with more on what's going on 594 00:33:04,680 --> 00:33:07,160 Speaker 1: around the world. Michael Karen, thank you very much. An 595 00:33:07,160 --> 00:33:10,360 Speaker 1: investigation is underway into the Bronx department fire that took 596 00:33:10,400 --> 00:33:14,000 Speaker 1: at least seventeen lives, including eight children. The space eater 597 00:33:14,160 --> 00:33:15,880 Speaker 1: is being blamed for the cause of the fire, but 598 00:33:15,960 --> 00:33:19,960 Speaker 1: the apartment door did not close, sending thick blck smoke 599 00:33:20,040 --> 00:33:23,520 Speaker 1: throughout the building. New York Mayor Eric Adams called it 600 00:33:23,600 --> 00:33:26,920 Speaker 1: a global tragedy because many of the victims are immigrants 601 00:33:26,960 --> 00:33:30,560 Speaker 1: from Gambia in West Africa. A deal has been reached 602 00:33:30,600 --> 00:33:33,560 Speaker 1: to get schools open again in Chicago. Students will be 603 00:33:33,720 --> 00:33:37,479 Speaker 1: back in the classroom tomorrow after teachers walked out January five. 604 00:33:37,760 --> 00:33:40,760 Speaker 1: The teachers union and the city reached an agreement over 605 00:33:40,960 --> 00:33:45,720 Speaker 1: safety precautions around COVID nineteen. Georgia beat Alabama thirty three 606 00:33:45,840 --> 00:33:49,720 Speaker 1: eight teen to win college football's national championship. In the NBA, 607 00:33:49,880 --> 00:33:52,840 Speaker 1: the Knicks and Celtics won. The Nets lost in the NHL. 608 00:33:52,920 --> 00:33:55,920 Speaker 1: The Bruins beat the Capitol seven three, the Rangers lost. 609 00:33:56,280 --> 00:33:58,840 Speaker 1: Global News twenty four hours a day on air and 610 00:33:59,000 --> 00:34:02,280 Speaker 1: on Bloomberg Quick To powered by more than seven hundred 611 00:34:02,320 --> 00:34:05,320 Speaker 1: journalists and analysts more than twenty countries at Michael Barr. 612 00:34:05,440 --> 00:34:09,480 Speaker 1: This is Bloomberg. The following commentary is from Bloomberg Opinion. 613 00:34:10,440 --> 00:34:12,759 Speaker 1: Jobs report makes a March FED rate hike nearly a 614 00:34:12,840 --> 00:34:15,800 Speaker 1: done deal. I'm Brian Schapatta, A colmis for Bloomberg Opinion. 615 00:34:16,160 --> 00:34:18,440 Speaker 1: Only a few hurdles remained before it's safer bond traders 616 00:34:18,480 --> 00:34:20,399 Speaker 1: to assume that the Fed will start raising interest rates 617 00:34:20,400 --> 00:34:22,560 Speaker 1: in March. The US economy just cleared a big one 618 00:34:22,600 --> 00:34:25,120 Speaker 1: with the latest report on the labor market. The unemployment 619 00:34:25,200 --> 00:34:27,640 Speaker 1: rate tumbled a three point nine percent, beating projections for 620 00:34:27,680 --> 00:34:29,920 Speaker 1: a dip to four point one percent. Average early earnings 621 00:34:30,000 --> 00:34:32,400 Speaker 1: jump four point seven percent from a year ago, handily 622 00:34:32,440 --> 00:34:34,840 Speaker 1: outpacing the median forecast. For traders who are trying to 623 00:34:34,880 --> 00:34:37,000 Speaker 1: pinpoint the FEDS path, it all boils down to the 624 00:34:37,040 --> 00:34:40,359 Speaker 1: calendar of economic releases. Next up consumer price index data 625 00:34:40,400 --> 00:34:42,440 Speaker 1: that's expected to show a seven point one percent increase 626 00:34:42,480 --> 00:34:44,840 Speaker 1: from a year ago. Two weeks later comes a FED decision. 627 00:34:45,040 --> 00:34:47,279 Speaker 1: The central Bank goes to painstaking links to signal to 628 00:34:47,360 --> 00:34:49,320 Speaker 1: markets that is about to do something meaningful with the 629 00:34:49,400 --> 00:34:51,840 Speaker 1: three point nine percent shopless rate and inflation that's expected 630 00:34:51,880 --> 00:34:54,080 Speaker 1: to remain way above target. It stands to reason that 631 00:34:54,120 --> 00:34:56,120 Speaker 1: the Fed could insert some language into its next statement 632 00:34:56,160 --> 00:34:58,160 Speaker 1: that would prime markets for a March rate hike. It's 633 00:34:58,160 --> 00:34:59,920 Speaker 1: the new year and way past time for the Federal 634 00:35:00,120 --> 00:35:02,799 Speaker 1: up the narrative. The economy is in an inflationary boom, 635 00:35:02,960 --> 00:35:04,640 Speaker 1: and it's ready to move interest rates off the zero 636 00:35:04,680 --> 00:35:07,279 Speaker 1: lower bound. I'm Brian Schapada. For more opinion, please go 637 00:35:07,360 --> 00:35:09,520 Speaker 1: to Bloomberg dot com, Slash Opinion or opi and go 638 00:35:09,600 --> 00:35:13,000 Speaker 1: on the Bloomberg terminal. These has been Bloomberg Opinion and 639 00:35:13,040 --> 00:35:16,359 Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this time, 640 00:35:16,440 --> 00:35:19,000 Speaker 1: and terminal customers can read more at O P I 641 00:35:19,320 --> 00:35:22,239 Speaker 1: N go. It is six fifty on Wall Street. Let's 642 00:35:22,239 --> 00:35:24,840 Speaker 1: turn to news in science and technology now with the 643 00:35:24,880 --> 00:35:27,759 Speaker 1: Bloomberg and j I T STEM Report, brought to you 644 00:35:27,920 --> 00:35:31,520 Speaker 1: by New Jersey Institute of Technology, which announced that renounced 645 00:35:31,560 --> 00:35:34,880 Speaker 1: scholar and educational leader, doctor tek Limb will join the 646 00:35:35,000 --> 00:35:38,359 Speaker 1: university as n j I T S ninth President. Learn 647 00:35:38,440 --> 00:35:40,880 Speaker 1: more at n j I T dot e DU. Now 648 00:35:40,960 --> 00:35:43,879 Speaker 1: here's just making news in science, technology, engineering, and math 649 00:35:44,280 --> 00:35:47,319 Speaker 1: and Hong Kong authorities are doubling down on their controversial 650 00:35:47,440 --> 00:35:51,080 Speaker 1: COVID zero policy. It's reimposing some of its strictest limits 651 00:35:51,120 --> 00:35:56,320 Speaker 1: since the pandemic began. Kindergartens and primary schools will close again. Meanwhile, 652 00:35:56,400 --> 00:35:59,640 Speaker 1: passengers from what are considered high risk countries are said 653 00:35:59,680 --> 00:36:03,040 Speaker 1: to be and from transitting through Hong Kong's international airport. 654 00:36:03,719 --> 00:36:07,200 Speaker 1: The United States staggered through a steady onslaught of deadly 655 00:36:07,320 --> 00:36:11,520 Speaker 1: billion dollar weather and climate disasters and an extra hot one, 656 00:36:11,800 --> 00:36:14,959 Speaker 1: while the nation's greenhouse gas emissions last year jumped six 657 00:36:15,120 --> 00:36:18,600 Speaker 1: per cent because of surges and coal and long haul trucking. 658 00:36:19,000 --> 00:36:22,640 Speaker 1: Three different reports released Monday, though not directly connected, paint 659 00:36:22,680 --> 00:36:26,880 Speaker 1: a picture of a US struggling with global warming and 660 00:36:26,960 --> 00:36:30,040 Speaker 1: its efforts to curb it. The World Economic Forum says 661 00:36:30,080 --> 00:36:33,680 Speaker 1: cybersecurity and space or emerging risks to the global economy, 662 00:36:33,800 --> 00:36:36,680 Speaker 1: adding to existing challenges posed by climate change and the 663 00:36:36,719 --> 00:36:40,800 Speaker 1: coronavirus pandemic. The Global Risk Report is usually released ahead 664 00:36:40,840 --> 00:36:43,719 Speaker 1: of the annual elite winter gathering of CEOs and world 665 00:36:43,800 --> 00:36:46,279 Speaker 1: leaders in the Swiss ski resort of Davos, but the 666 00:36:46,320 --> 00:36:48,400 Speaker 1: event has been postponed for a second year in a 667 00:36:48,560 --> 00:36:51,239 Speaker 1: row because of COVID and that's a Bloomberg n J 668 00:36:51,440 --> 00:36:54,239 Speaker 1: I t Stem report. Nathan, thank you, Karen. We're lying 669 00:36:54,280 --> 00:36:56,880 Speaker 1: from the Bloomberg Interactive Brokers studios where it's six fifty 670 00:36:56,920 --> 00:36:58,600 Speaker 1: two on Wall Street and it's time now to check 671 00:36:58,640 --> 00:37:00,600 Speaker 1: what's going on in the c Some of the top 672 00:37:00,640 --> 00:37:03,800 Speaker 1: stories from our nation's capital include FED Jair J. Powell 673 00:37:04,120 --> 00:37:07,560 Speaker 1: promising to take on inflation ahead of his Senate reconfirmation hearing, 674 00:37:07,920 --> 00:37:10,960 Speaker 1: nordstream to sanctions set for a Senate vote as the 675 00:37:11,080 --> 00:37:14,399 Speaker 1: US and Russia talk, and President Biden in a new 676 00:37:14,440 --> 00:37:17,080 Speaker 1: push for voting rights as allies fhere he may be 677 00:37:17,320 --> 00:37:20,360 Speaker 1: too late. Let's bring in Bloomberg Government reporter Emily Wilkins 678 00:37:20,480 --> 00:37:22,840 Speaker 1: with us from Washington, d C. On a morning Emily, 679 00:37:22,880 --> 00:37:25,400 Speaker 1: where a lot of investors eyes will be on the 680 00:37:25,480 --> 00:37:30,080 Speaker 1: Senate Banking Committee for a FED share Powell's confirmation hearing. Yes, 681 00:37:30,239 --> 00:37:32,960 Speaker 1: this is going to be a big one today. We're 682 00:37:33,000 --> 00:37:36,040 Speaker 1: going to expect Powell to really just start off with 683 00:37:36,160 --> 00:37:38,839 Speaker 1: the with the big elephant in the room, which is inflation. 684 00:37:39,239 --> 00:37:41,480 Speaker 1: He's going to say that the Central Bank will prevent 685 00:37:41,800 --> 00:37:45,319 Speaker 1: higher inflation from becoming in trench obviously we've already seen 686 00:37:45,360 --> 00:37:47,839 Speaker 1: it for that for a number of months. He's also 687 00:37:47,880 --> 00:37:51,120 Speaker 1: going to caution that a post pandemic economy might look 688 00:37:51,440 --> 00:37:55,759 Speaker 1: different than the previous economy that we saw pre pandemic. 689 00:37:56,239 --> 00:37:58,560 Speaker 1: And you're going to pledge the lawmakers that the Fed 690 00:37:58,640 --> 00:38:01,640 Speaker 1: will use their tools to the court their economy as 691 00:38:01,680 --> 00:38:04,239 Speaker 1: well as the strong labor market and really try and 692 00:38:04,320 --> 00:38:08,200 Speaker 1: make sure that inflation is able to come back down. Uh. 693 00:38:08,360 --> 00:38:10,719 Speaker 1: We can express a number of questions some lawmakers not 694 00:38:10,840 --> 00:38:14,160 Speaker 1: just on inflation, but also on unemployment numbers that have 695 00:38:14,280 --> 00:38:17,640 Speaker 1: been coming out recently. A number of them, including last Fridays, 696 00:38:17,680 --> 00:38:20,400 Speaker 1: have fallen below the lamp UH. And it's not just 697 00:38:20,480 --> 00:38:23,680 Speaker 1: say how will you also have Governor Lao Bernier whose 698 00:38:23,719 --> 00:38:26,399 Speaker 1: go who is picked by Biden to serve as vice chair. 699 00:38:26,520 --> 00:38:29,520 Speaker 1: She's going to come before the committee on Thursday, right, 700 00:38:29,560 --> 00:38:33,040 Speaker 1: and she's up for vice chair for supervision, the top 701 00:38:33,120 --> 00:38:36,719 Speaker 1: regulatory position. How much could regulation play into what we 702 00:38:36,840 --> 00:38:39,719 Speaker 1: hear from the senators today when they question Powell, though, 703 00:38:41,200 --> 00:38:43,200 Speaker 1: I think that's definitely going to play a part as 704 00:38:43,239 --> 00:38:45,719 Speaker 1: far as what kind of said to what does the 705 00:38:45,800 --> 00:38:48,839 Speaker 1: said thinking about as it goes forward? I mean, these 706 00:38:48,880 --> 00:38:51,239 Speaker 1: are a number of lawmakers that I think those Democrats 707 00:38:51,280 --> 00:38:54,480 Speaker 1: and Republicans alike who are very concerned about the inflation 708 00:38:54,520 --> 00:38:57,080 Speaker 1: numbers that they're seeing, they understand that this is something 709 00:38:57,200 --> 00:39:01,319 Speaker 1: that Americans are are very much a few, very very 710 00:39:02,600 --> 00:39:05,239 Speaker 1: real in a real and tangible way. And so I 711 00:39:05,280 --> 00:39:06,960 Speaker 1: think that's going to be one of the top of 712 00:39:07,040 --> 00:39:10,680 Speaker 1: mind concerned, especially concerning to the certain fact that you know, 713 00:39:10,760 --> 00:39:12,960 Speaker 1: Paula has been had of been fed to the last 714 00:39:13,040 --> 00:39:16,880 Speaker 1: four years, and this inflationary rise has happened on his watch. 715 00:39:17,320 --> 00:39:19,200 Speaker 1: And another reason, of course, we're gonna be watching the 716 00:39:19,280 --> 00:39:23,360 Speaker 1: Senate this week. Votes could be coming on sanctions against 717 00:39:23,480 --> 00:39:27,239 Speaker 1: nord Stream to the pipeline between Russia and Germany, just 718 00:39:27,440 --> 00:39:30,160 Speaker 1: as the US and Russia are in the midst of 719 00:39:30,320 --> 00:39:34,680 Speaker 1: security talks. I mean, that can really complicate things. Yeah, 720 00:39:34,760 --> 00:39:37,440 Speaker 1: a lot of Democrats are very concerned about this vote. 721 00:39:37,520 --> 00:39:41,239 Speaker 1: They say that at this point, the US implying these 722 00:39:41,280 --> 00:39:44,320 Speaker 1: sanctions really showed the division between the US and some 723 00:39:44,440 --> 00:39:47,719 Speaker 1: of its European allies like Germany, and law makers say 724 00:39:47,760 --> 00:39:50,160 Speaker 1: that this is the absolute wrong time to do something 725 00:39:50,320 --> 00:39:53,640 Speaker 1: like that, as the US currently engaged in negotiations with 726 00:39:53,840 --> 00:39:57,560 Speaker 1: Russia over the situation at the Ukraine border. But this 727 00:39:57,719 --> 00:40:01,400 Speaker 1: vote came about in part because Senators Crews had blocked 728 00:40:01,480 --> 00:40:05,960 Speaker 1: a number of picks and nominations by President Biden from 729 00:40:06,000 --> 00:40:08,479 Speaker 1: getting a vote, and as part of a deal cut 730 00:40:08,640 --> 00:40:11,880 Speaker 1: with Majority leader Chuck Schumer, Schumer agreed to allow a 731 00:40:12,000 --> 00:40:14,920 Speaker 1: vote on this UM if Crews would go ahead and 732 00:40:15,000 --> 00:40:18,319 Speaker 1: allow a number of these pass. And so that's ever 733 00:40:18,400 --> 00:40:21,400 Speaker 1: seen this vote happen today. UM, And there's there's a 734 00:40:21,520 --> 00:40:24,400 Speaker 1: question on whether you're going to see that that sixteen 735 00:40:24,520 --> 00:40:27,040 Speaker 1: votes that that's needed to move forward. That means that 736 00:40:27,200 --> 00:40:30,239 Speaker 1: ten Democrats are going to have to join Republicans. It 737 00:40:30,280 --> 00:40:32,320 Speaker 1: would mean that all Republicans would have to vote for 738 00:40:32,400 --> 00:40:36,200 Speaker 1: this UM. And so that's the sort of numerous dynamics 739 00:40:36,239 --> 00:40:39,400 Speaker 1: that are playing out today, uh in regards to the vote. 740 00:40:39,560 --> 00:40:41,640 Speaker 1: But but there's certainly a lot of concerned about what 741 00:40:41,760 --> 00:40:45,160 Speaker 1: this would mean for the US relationship with Jeremy and 742 00:40:45,280 --> 00:40:49,160 Speaker 1: Europe at very critical time for these various countries to 743 00:40:49,239 --> 00:40:52,279 Speaker 1: be standing unified. Now last minute here, Emily, I'm sure 744 00:40:52,320 --> 00:40:54,879 Speaker 1: you're gonna be watching this afternoon as President Biden heads 745 00:40:54,920 --> 00:41:00,319 Speaker 1: to Atlanta to keep up this push for voting rights legislation. Yes, 746 00:41:00,440 --> 00:41:03,520 Speaker 1: this is coming as the Senate trying to pass again 747 00:41:03,680 --> 00:41:06,400 Speaker 1: the voting rights build and it is considering a potential 748 00:41:06,560 --> 00:41:09,640 Speaker 1: change the Senate rules to get them through. Biden is 749 00:41:09,680 --> 00:41:12,040 Speaker 1: going to be in Atlanta. You're going to see Vice 750 00:41:12,120 --> 00:41:14,600 Speaker 1: President Kamala Harris come, You're going to see a number 751 00:41:14,680 --> 00:41:18,319 Speaker 1: of major civil rights leaders and lawmakers be there. It's 752 00:41:18,360 --> 00:41:20,560 Speaker 1: going to be a big moment for Biden. But the 753 00:41:20,640 --> 00:41:23,759 Speaker 1: reality is that there's not really pass forward. To get 754 00:41:23,840 --> 00:41:27,720 Speaker 1: any of this voting legislation done. Uh. Like I mentioned, 755 00:41:27,760 --> 00:41:30,239 Speaker 1: it would require a rules change, and at this point 756 00:41:30,560 --> 00:41:33,560 Speaker 1: Senators Joe Mansion and Sender's Kristin Senema has said that 757 00:41:33,640 --> 00:41:36,360 Speaker 1: they are opposed to that. Um, it doesn't seem like 758 00:41:36,400 --> 00:41:40,160 Speaker 1: Republicans are budging on supporting any of these pieces of legislation. 759 00:41:40,600 --> 00:41:43,080 Speaker 1: So really it's going to be a moment where Biden 760 00:41:43,480 --> 00:41:45,480 Speaker 1: is going to be sort of leading it to the 761 00:41:45,600 --> 00:41:49,359 Speaker 1: messaging calling this an important moment, this is something that's 762 00:41:49,400 --> 00:41:52,200 Speaker 1: critical to be done. We'll be interested to see if 763 00:41:52,239 --> 00:41:54,120 Speaker 1: he takes a stance on what should happen with the 764 00:41:54,200 --> 00:41:56,799 Speaker 1: Senate rules on the filibuster. That might be the big 765 00:41:56,840 --> 00:41:59,720 Speaker 1: news that comes out of this today. Alright, Bloomberg Government 766 00:41:59,719 --> 00:42:01,719 Speaker 1: report Emily Wilkins, you know you'll be watching for that 767 00:42:01,960 --> 00:42:04,400 Speaker 1: very closely. Thanks for joining us ahead of all that, 768 00:42:04,640 --> 00:42:07,800 Speaker 1: And a reminder that you can tune back into Bloomberg 769 00:42:07,920 --> 00:42:11,080 Speaker 1: Radio this morning right around ten am Wall Street time 770 00:42:11,120 --> 00:42:14,239 Speaker 1: as the Senate Banking Committee begins its confirmation hearing for 771 00:42:14,360 --> 00:42:17,719 Speaker 1: a second term for J. Powell as Chairman of the 772 00:42:17,800 --> 00:42:20,799 Speaker 1: Federal Reserve. And you can read much more about all 773 00:42:20,840 --> 00:42:23,839 Speaker 1: these stories out of Washington, d C. At Bloomberg dot 774 00:42:23,880 --> 00:42:27,400 Speaker 1: com or on the Bloomberg terminal. Looking ahead to the market, 775 00:42:27,440 --> 00:42:30,880 Speaker 1: open futures are moving higher this morning. SMP futures are 776 00:42:30,920 --> 00:42:34,640 Speaker 1: up seventeen points, DAL futures up eighty four, NASTAC futures 777 00:42:34,640 --> 00:42:37,080 Speaker 1: are higher by eighty two points. The tenure Treasury is 778 00:42:37,160 --> 00:42:40,720 Speaker 1: up one thirty second, the yield one point seven five percent. 779 00:42:41,040 --> 00:42:45,240 Speaker 1: Bloomberg Surveillance is up next. For Karen Moscow. I'm Nathan Hagar, 780 00:42:45,680 --> 00:42:47,600 Speaker 1: and this is Bloomberg