Speaker 1: Live from the Bloomberg Interact at Brooker Studios. This is
Speaker 1: Bloomberg day Break for Tuesday, January eleven two. Coming up
Speaker 1: this hour. J Powell heads to Capitol Hill for confirmation
Speaker 1: hearings by Shair. Richard Clarena leaves his post at the FED.
Speaker 1: Early Fiser announced his plans for a hybrid vaccine to
Speaker 1: combat the omicron variant, and the Senate targets the North
Speaker 1: Stream to pipeline with sanctions. Details and questions emerge about
Speaker 1: Sunday's deadly Bronx fire. Plus Chicago Public school students are
Speaker 1: set to return to classes tomorrow. I'm Michael Barr More Ahead,
Speaker 1: I'm John Stashon sports Georgia beat Alabama with a national
Speaker 1: championship in colle's football, The Knicks one, the Nets and
Speaker 1: Rangers of both Laws. That's all straight Ahead on Bloomberg.
Speaker 1: Gay Break on Bloomberg eleven three, on New York Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one, O six one, Boston, Bloomberg nine six,
Speaker 1: San Francisco, Sirius XM one nineteen and around the world
Speaker 1: Old on Bloomberg Radio dot Com and via The Bloomberg Business.
Speaker 1: Good Morning, I'm Nathan Hager and I'm fair in Moscow
Speaker 1: and US DOT index future is on the rise this morning.
Speaker 1: If we're coming up to six o one on Wall Street,
Speaker 1: and we check the markets every fifteen minutes throughout the
Speaker 1: trading day on bloomberg S and P futures of nineteen
Speaker 1: points down, features of ninety four Nasdack futures of ninety
Speaker 1: five ten, your treasury that will change at one point
Speaker 1: seven six percent, and they yield on the two year
Speaker 1: point nine one percent, and I'm max screwed oils up
Speaker 1: one point four percent, Nathan Karen. We begin with today's
Speaker 1: confirmation hearing for j. Powell to serve a second term
Speaker 1: as FED chair. Powell's testimony comes as markets remain volatile,
Speaker 1: gripped by rising inflation and the prospect of higher interest rates.
Speaker 1: We get more from Bloomberg Economics correspondent Michael McKee. Powell
Speaker 1: comes before Congress just when there's something to talk about.
Speaker 1: Fear the Fed is behind the curve on inflation sent
Speaker 1: stocks lower on Monday as market interest rates continued to rise.
Speaker 1: Representatives will connect the dots trying to get a commitment
Speaker 1: from Powell the Fed will ratify the market moves by
Speaker 1: raising rates sooner and faster, and they will ask him
Speaker 1: about plans for shrinking the Fed's balance sheet. Members will
Speaker 1: also want to know more about his plans for non
Speaker 1: monetary policies at the FED. How involved will the Central
Speaker 1: Bank be in climate change initiatives, in regulating cryptocurrencies, in
Speaker 1: approving bank mergers? Michael McKee, Bloomberg Daybreak, All right, Michael,
Speaker 1: thank you all. Later this week, Lyle Brainerd heads to
Speaker 1: Capital Hill for her confirmation hearing to serve as vice
Speaker 1: chair of the FED. And now we're learning that her predecessor,
Speaker 1: Richard Clarada, is resigning early. Bloomberg Dot Kristner has that story.
Speaker 1: Clarada will step down from the Board of Governors two
Speaker 1: weeks before his term is due to expire. Last week,
Speaker 1: it was revealed he had sold at least a million
Speaker 1: dollars in shares of a U S stock fund in February.
Speaker 1: A few days later, he bought back a similar amount
Speaker 1: of the same fund on the eve of a major
Speaker 1: FETE announcement. Clarida has been a member of the board
Speaker 1: and vice chair since September eighteen. President Biden has non
Speaker 1: a NATed FED governor. Lyle brainer To succeed Clarida. Her
Speaker 1: confirmation hearings begin on Thursday in New York. I'm Doug
Speaker 1: Chrisener Bloomberg Daybreak. Thanks Doug. Meantime, the drum beat for
Speaker 1: more interest rate hikes from the Fed is getting louder.
Speaker 1: For the latest there were joined live by Bloomberg's John Tucker.
Speaker 1: Good morning John, Good morning Nathan. The latest call for
Speaker 1: faster heikes comes from former New York Fed president and
Speaker 1: current Bloomberg opinion columnists Bill Dudley. He says the Central
Speaker 1: Bank needs to get a lot more hawkish. My best
Speaker 1: guess is, you know that they they need to do
Speaker 1: at least four or five rate hikes this year. And
Speaker 1: it wouldn't strike me at all if we if we
Speaker 1: get into an every meeting kind of cycle at some point.
Speaker 1: Bill Dudley, making the comments in an interview on Bloomberg
Speaker 1: Surveillance swaps markets already indicating three or four interest rate
Speaker 1: hikes from the Center back this year, Goldban Sachs and
Speaker 1: JP Morgan Chase forecasting four options traders also flagging the
Speaker 1: prospect of eight quarter point rate moves by early four
Speaker 1: from earlier expectations of around six. You know, York I'm
Speaker 1: John Tucker, Bloomberg day Break. All right, John, thank you all.
Speaker 1: Just a couple of months ago, there was confidence in
Speaker 1: a faster global recovery, and now that confidence may be fading.
Speaker 1: Bloomberg's Rnda Young and joins us with details on that.
Speaker 1: Good morning, Renia, Good morning care. In a new World
Speaker 1: Economic Forum survey finds just one in six government and
Speaker 1: business leaders are optimistic on the global economic recovery, and
Speaker 1: just one intend thinks worldwide economic expansion will pick up speed.
Speaker 1: The Global Risks reports sites the pandemic, climate change, and
Speaker 1: rising social tensions among the biggest concerns. Short term fears
Speaker 1: include health and social damage from COVID nineteen, while economic
Speaker 1: and debt related issues are cited as medium term dangerous.
Speaker 1: I'm rened A Young bloommerk Daybreak, Na, thank you. Now,
Speaker 1: we turned to the latest on the pandemic and vaccines.
Speaker 1: Fiser says it is developing a hybrid shot that combines
Speaker 1: its original vaccine with a formulation that shields against the
Speaker 1: omicron variants. According to CEO Albert Borla, Findser will approach
Speaker 1: US regulators in March for clearance of the shot. Well.
Speaker 1: Maderna is also working on a shot aimed at the
Speaker 1: om kron variant. Nathan, we caught up with CEO Stefan boncell.
Speaker 1: We are moving very aggressively. We're even to be here
Speaker 1: in a couple of weeks in the cleaning specific violence.
Speaker 1: CEO Stefan Bon sells as Maderna has more than eighteen
Speaker 1: billion dollars in vaccine orders so far this year. In
Speaker 1: Hong Kong, Karen authorities are doubling down on their COVID
Speaker 1: zero policy. The city is reimposing some of the strictest
Speaker 1: limits since the pandemic began. Kindergartens and primary schools will close,
Speaker 1: and passengers from high risk countries will be banned from
Speaker 1: passing through Hong Kong's International airport. Meantime, Nathan, we're seeing
Speaker 1: somewhat of an exodus from Hong Kong if patriots and
Speaker 1: locals are moving away from this city and increasing numbers.
Speaker 1: On Bloombergy Daybreak Asia anchor Brian Curtis as that story.
Speaker 1: The population decline is running at one point two percent
Speaker 1: since the end of It's the biggest drop in at
Speaker 1: least six decades. Policymakers have stepped up their crackdown on
Speaker 1: civil society and they've brushed aside an uproar over aligning
Speaker 1: with China's COVID zero strategy. The brain drain is seen
Speaker 1: in sectors as education, healthcare, and even finance, and critics
Speaker 1: say it will likely be felt by residents for years
Speaker 1: to come. Brian Curtis Sploomberg Daybreak, Brian, thank you. Back
Speaker 1: here in the US, the nord Stream to pipeline is
Speaker 1: in focus on Capitol Hill. The Senate is considering plans
Speaker 1: to impose tough new sanctions on the pipeline that links
Speaker 1: Russia and Germany. Amy Morris has details from our Bloomberg
Speaker 1: newsroom in Washington. The Senate could vote for sanctions this week,
Speaker 1: but some Democrats argue sanctions now could make it more
Speaker 1: likely Russia will invade Ukraine because it would break the
Speaker 1: United States away from Germany. But the Senate vote is
Speaker 1: moving forward as part of a deal between Senate Majority
Speaker 1: Leader Chuck Schumer and Senator Ted Cruz of Texas. Crews
Speaker 1: introduced the sanctions bill while placing a hold on dozens
Speaker 1: of President Biden's foreign policy nominees. This could clear the
Speaker 1: way for those nominees to be confirmed in Washington. I
Speaker 1: maybe Morris Bloomberg daybreak. All right, Amy, thank you about
Speaker 1: training to the markets. Now. Trading has resumed at the
Speaker 1: London Metal Exchange after a five our outage. The world's
Speaker 1: most important base metals exchange said it had connectivity issues
Speaker 1: caused by a power outage at a third party data center.
Speaker 1: And again, futures are on the rise this morning. And
Speaker 1: as straight ahead, your latest local headlines plus a check
Speaker 1: of sports, and this is Bloomberg takes paren six oh
Speaker 1: seven on Wall Street, Temperatures on the decline where it's
Speaker 1: seventeen degrees in Central Park and still dealing with a
Speaker 1: bad tractor trailer crash has northbound Vegan shut down at
Speaker 1: the hundred seventy nine. Michael Barr is here with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Prayers were held last
Speaker 1: night as sorrow filled the Bronx community after Sunday's fire
Speaker 1: and choking smoke engulf to high rise apartment complex. The
Speaker 1: death toll has been lowered to seventeen people killed, including
Speaker 1: eight children. Firefighters say the blaze was sparked by a
Speaker 1: faulty space eater, but the deadly smoke traveled throughout the
Speaker 1: building due to an open door in the hallway. Mayor
Speaker 1: Eric Adams closed the door. Close the door that was
Speaker 1: embedded in my head as a child watching the commercials
Speaker 1: over and over again. We're going to double down on
Speaker 1: that message. Mayor Adams says. The flames damaged only a
Speaker 1: small part of the building, but smoked pour it through
Speaker 1: the apartment's open door and turned stairwells into death traps.
Speaker 1: New Jersey Governor Phil Murphy warned the residents of his
Speaker 1: state that they are already seeing hospital admissions that arrivals
Speaker 1: some of the pandemic's worst days. We're in the thick
Speaker 1: of this latest fight against the omicron tsunami washing across
Speaker 1: the state. Governor Murphy is concerned it's not even the
Speaker 1: reported peak of the omicron variant of the coronavirus that
Speaker 1: health officials have been warning us about. Both the U
Speaker 1: and ventilator numbers are up significantly and have roughly doubled
Speaker 1: since Christmas. These are the highest numbers we've seen since
Speaker 1: May of two thousand and twenty. Governor Murphy says many
Speaker 1: New Jersey towns and cities have reintroduced mask mandates. New
Speaker 1: Jersey transit, set rail and US writers ship has declined
Speaker 1: following the holiday season and an omicron fuel to coronavirus search.
Speaker 1: Weekday rail ridership was at about thirty to thirty five
Speaker 1: percent of pre COVID levels in December, down from about
Speaker 1: fifty five percent a month earlier. Chicago public schools are
Speaker 1: set to reopen for students tomorrow after the teachers union
Speaker 1: leadership voted to approve a deal with city officials to
Speaker 1: restart in person classes in the nation's third largest school district.
Speaker 1: Schools have been closed since January five after Chicago teachers
Speaker 1: voted to shift back to remote learning, demanding more stringent
Speaker 1: protections and men to COVID nineteen surge. President Biden travels
Speaker 1: to Atlanta today to push voting rights legislation. Biden will
Speaker 1: travel with the Vice president. North Korea fire do ballistic
Speaker 1: missile that flew at almost ten times the speed of
Speaker 1: sound into waters off its eastern coast. South Korea says
Speaker 1: the missile fell into the sea separating the peninsula from Japan.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg quick Take, powered by more than twenty seven
Speaker 1: journalists and analysts. Than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg Nathan. Thanks Michael, almost sixth cent on
Speaker 1: Wall Street time for the Bloomberg Sports Update with John Stenshower.
Speaker 1: Next day to the college football season ended in Indianapolis,
Speaker 1: Alabama and Georgia. They played last month for the SEC Championship.
Speaker 1: Bama won that one by seventeen points, Georgia one last
Speaker 1: night by fifteen. It was close to them that Bama
Speaker 1: had leads in the third and fourth quarters, but George,
Speaker 1: after scoring no touchdowns for the first forty three and
Speaker 1: a half minute, scored four t d s in the
Speaker 1: last sixteen and a half minutes that included a game
Speaker 1: ceiling scored in the final minute excedent side hand r
Speaker 1: Robinson throws to the near side and a second at
Speaker 1: the twenty one yard line and Kilee Ringo pr a
Speaker 1: back across that field across the thirty inside of twenty
Speaker 1: great scores. The George of Bulldogs lead by two scores
Speaker 1: with fifty seconds to ESPN Radio had to call the
Speaker 1: final thirty three to eighteen. Georgia's first national championship. Sons
Speaker 1: herschel Walker led them in nineteen eighty they lost the
Speaker 1: title game to Bama four years ago. In overtime, Crimson
Speaker 1: Tide denied what would have been a seventh title in
Speaker 1: the last thirteen years. Nicks finally went in some home
Speaker 1: game four in a row, with the Garden pulled away
Speaker 1: from the Spurs second half one one eleven nineties six
Speaker 1: thirty one points where R. J. Barrett nets in Portland,
Speaker 1: where without James Harden knee injury, the Blazers without Damian
Speaker 1: Lillard Portland wanted one fourteen to one oh eight and
Speaker 1: Brooklyn's now dropped five of the last seven. Rangers beaten
Speaker 1: by the Kings in l A three to one. The
Speaker 1: Dave Gettleman retirement made official. Giants now looking for a
Speaker 1: new general manager. Of three coaches just got fired Matt
Speaker 1: Nagge in Chicago, Mike Zimmer in Minnesota, and in a surprise,
Speaker 1: Brian flora Is in Miami. Dolphins finished the season going
Speaker 1: eight and one. John Stash where Bloomberg sports Nathan, all right, John,
Speaker 1: thank you right now. It's in p Futures are up
Speaker 1: fifteen points, sound features of seventy three. Nast A Futures
Speaker 1: are hired by eighty four points. Ten your treasury, little
Speaker 1: change the yield one point seven five percent. This is
Speaker 1: Bloomberg Bloomberg eleven three oh weather sunny but cold today
Speaker 1: behind your twenty Tomorrow partly sunny hid in your forty
Speaker 1: degrees will be mostly cloudya near forty on Thursday seventeen.
Speaker 1: Is the current temperature in Central Park Markets. Headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Take. This
Speaker 1: is a Bloomberg Business flash and I'm paren Moscow. European
Speaker 1: stocks are bouncing back from their biggest decline in six weeks,
Speaker 1: as treasury yields steady a day before a key US
Speaker 1: inflation reading and US futures are higher this morning. We
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg. U S and P future is up fifteen
Speaker 1: points and down futures up seventy four and a stack
Speaker 1: futures up seventy six. The decks in Germany's up one
Speaker 1: attend year treasury up one thirty second he at one
Speaker 1: point seven five percent yield on the two year point
Speaker 1: nine zero percent. Nimax screwed oil is of one and
Speaker 1: a half percent. Of a dollar sixteen at seventy nine
Speaker 1: dollars thirty nine cents of Barrel comic school, the third
Speaker 1: of upper cent or six dollars twenty cents at eighteen
Speaker 1: o five. Announced the euro one point one three three
Speaker 1: two against the dollar, British bound one point three six
Speaker 1: and the end one fifteen point four four and looking
Speaker 1: at bitcoin and this morning at forty one eight hundred dollars,
Speaker 1: that's up about two tents of percent and active as
Speaker 1: a great to buy wind River from TPG Capital for
Speaker 1: four point three billion dollars in cash. That's a Bloomberg
Speaker 1: business flash. Now here's Michael Barr with more on what's
Speaker 1: going on around the world. Michael, thank you very much. Cameron.
Speaker 1: Investigators are trying to determine why safety doors failed to
Speaker 1: close in a New York City high rise when the
Speaker 1: deadly fire broke out. Failures allowed thick, smoked billow through
Speaker 1: the tower and kill seventeen people. The Republican National Committee
Speaker 1: suited the New York City area over a law that
Speaker 1: will give non citizens the right to vote in local elections,
Speaker 1: calling it a blatant attack on election integrity. Chicago's students
Speaker 1: will be back in the classroom tomorrow. The teachers union
Speaker 1: and the city reached a deal about the COVID safety
Speaker 1: protocols that led to in person classes closing January five.
Speaker 1: Real estate air and convicted murderer Robert Durst has died
Speaker 1: of cardiac arrest at age seventy eight. Georgia beat Alabama
Speaker 1: thirty three eighteen to win college football's national championship. In
Speaker 1: the NBA, the Knicks and Celtics won. The Nets lost
Speaker 1: in the NHL, the Bruins beat the Capitol seven three,
Speaker 1: the Rangers lost. Global news twenty four hours a day
Speaker 1: on a or and on Bloomberg Quick Take, powered by
Speaker 1: more than twenty seven hundred journalists and analysts more than
Speaker 1: a hundred twenty countries. Michael Barr, this is Bloomberg. Nathan
Speaker 1: all right, Michael, thank you for coming up to six
Speaker 1: twenty on Wall Street Live from the Bloomberg Interacted Broker Studios.
Speaker 1: This is Bloomberg at daybreak. We want to get more
Speaker 1: now on the pandemic as the O macron variant threatens
Speaker 1: to overwhelm the US health system. Dr Bati and Sony
Speaker 1: is with us this morning. Associate U sort of emergency
Speaker 1: medicine at Johns Hopkins University doctor, It's good to have
Speaker 1: you with us this morning. As the Washington Post is
Speaker 1: reporting the number of people in the hospital with COVID
Speaker 1: nineteen is close to a pandemic record. Where do you
Speaker 1: see things as far as this O macron wave is going.
Speaker 1: Is our health system equipped to handle it? Our health
Speaker 1: system is equipped to handle because it has to handle it,
Speaker 1: not because we have unlimited resources, but we will make resources.
Speaker 1: There's innovations happening around the country UM, deployment of national
Speaker 1: god and declassed croation of states of emergency, UM employing
Speaker 1: non medical workers to take on clinical roles, and an
Speaker 1: expansion of bed capacity of hospitals. So people are rallying.
Speaker 1: Every health system is trying to be innovative and how
Speaker 1: to optimize the performance of our hospitals. And so we
Speaker 1: will handle it because we have to handle it. And
Speaker 1: we are seeing evidence, at least in New York City
Speaker 1: that COVID maybe peaking. We've seen this seven day average
Speaker 1: of e ER visits dropped sharply since last month when
Speaker 1: the O macron variant was first identified. Can we be
Speaker 1: confident that this O macron wave is going to pass
Speaker 1: as quickly as it's emerged in this country and we
Speaker 1: really hope so consistently throughout the pandemic. We've looked at
Speaker 1: other countries such as the United Kingdom and South Africa
Speaker 1: who had the waves for us UM. In the South
Speaker 1: Africa in particular, that wave lasted around thirty days. I
Speaker 1: think in the United States that's foot complicated by the
Speaker 1: winter holidays and then the sloo being s traveling also.
Speaker 1: But yes, UM, you know we don't need to get
Speaker 1: through this at grace and patients UM, and we shall
Speaker 1: also pass UM. We also note that the EER visits
Speaker 1: have been decreased as individuals are being more comfortable with
Speaker 1: relying on rapid tests at home UM and avoiding the
Speaker 1: e off in non emergency cases. All at the same time,
Speaker 1: A tests have been hard to come by in a
Speaker 1: plenty of places across this country. How has that complicated
Speaker 1: the response to this variant? Well, I mean they needs
Speaker 1: they are acting blind, right, So without effective testing strategies,
Speaker 1: you as an individual, I'm sure if you have COVID
Speaker 1: and do not have COVID, and that's a more likely
Speaker 1: to spread COVID to other individuals. UM. There's also nequity
Speaker 1: with test distribution test being on average twenty dollars per test,
Speaker 1: means that the poorest of our society, those who perhaps
Speaker 1: would need them the most due to their living situations
Speaker 1: and inability to quarantine, do not have access to testing.
Speaker 1: We've heard from Fiser's CEO, Albert Borla, saying that his
Speaker 1: company is or has been working on an omicron specific
Speaker 1: vaccine and coming up with a hybrid shot that combines
Speaker 1: the original formulation with something tailored to this new variant.
Speaker 1: Do you think that's going to be something that's necessary
Speaker 1: to get us over this omicron wave, Well, not just
Speaker 1: the omicron wave, but it may provide better resilience to
Speaker 1: delta also, And or you are variants, variants continue to evolve,
Speaker 1: so must have vaccines, and we do this annually anyway
Speaker 1: with the influenza virus, and that has been a successful
Speaker 1: strategy to prevent influenza surges. Sounds like you're thinking that
Speaker 1: we're going to need booster shots indefinitely. Is that what
Speaker 1: you're saying? That is what I'm saying. It is likely
Speaker 1: that this virus will continue to evolve, especially as we
Speaker 1: do not have vaccine access globally, and so we need
Speaker 1: to be prepared for future waves and future variants of
Speaker 1: concern in our last minute here, doctor, there's some talk
Speaker 1: in parts of the world about starting to discuss thinking
Speaker 1: of COVID as endemic rather than a pandemic. Is this
Speaker 1: the right time to think about that, when we still
Speaker 1: are dealing with this omicron variant potentially other variants down
Speaker 1: the line. Absolutely not so in my opinion. And and
Speaker 1: virus is endemic when it's impact on society is predictable,
Speaker 1: and the variation and when it occurs if predictable. Also,
Speaker 1: COVID is not that right now. It is crippling our society.
Speaker 1: It's crippling our health systems. Weally don't know what else
Speaker 1: is virus can throw at us. And I worry that
Speaker 1: by labeling it endemic means that individuals will become complacent.
Speaker 1: So this is not the time for complacency. We still
Speaker 1: need to actively fight the virus. We have the tools,
Speaker 1: we have, vaccines, masking, testing, social distance saying. I think
Speaker 1: we'll get this soon, especially as under five population become vaccinated.
Speaker 1: But right now we just need to get through this
Speaker 1: way and that it should be our still focus now.
Speaker 1: Let's hope we get there soon. Dr Han Sody, thank you,
Speaker 1: as always for your insights. Dr Baki Han Sody's Associate
Speaker 1: Professor of Emergency Medicine at the Johns Hopkins University Bloomberg
Speaker 1: School of Public Health, which is supported by Michael Bloomberg.
Speaker 1: He's the founder and majority owner of Bloomberg Radio's parent company,
Speaker 1: Bloomberg Lp. SMP futures up fifteen points, Dow futures and
Speaker 1: NASTAC futures at the moment, both up seventy seven points.
Speaker 1: You're listening to Bloomberg day Berg Bloomberg eleven three oh
Speaker 1: weather sunny but cold today, only near twenty degrees, partly sunny,
Speaker 1: upper thirties Tomorrow. We'll get up to near forty on
Speaker 1: a mostly cloudy Thursday. Right now seventeen degrees in Central Park.
Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg Living Free to Washington, d C. Bloomberg to Boston,
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Speaker 1: sixteen to the country, Sirius XM to the one nine ten,
Speaker 1: and around the globe. The Bloomberg Business and Bloomberg Radio
Speaker 1: dot Com. This is Bloomberg daybreak. It's six thirty on
Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow,
Speaker 1: and we're just about three hours away from the open
Speaker 1: of US trading. Time for the five things you need
Speaker 1: to notice start your day. Brought to you by Interactive
Speaker 1: Broker's Trade Crypto for less coin with commissions just twelve
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Speaker 1: US futures are higher ahead of confirmation hearings for J. Powell.
Speaker 1: The Fed chair plans tels senators at the Central Bank
Speaker 1: will prevent higher inflation from becoming intrenched. And males is
Speaker 1: a Washington policy Analysted Raymond James. J Powell is getting
Speaker 1: confirmed in his job is to give Republicans a reason
Speaker 1: to stick with him, to vote for his reconfirmation. If
Speaker 1: you are J Powell, you're talking about inflation, if you're
Speaker 1: talking about what you're going to do next and miles
Speaker 1: of Raymond James spoke with our Washington correspondent Joe Matthew
Speaker 1: on Bloomberg sound On. Catch the program weekdays at five
Speaker 1: pm Eastern on Bloomberg Radio meantime, Karen, the drum beat
Speaker 1: for more interest rate hikes from the Fed is getting louder.
Speaker 1: Bloomberg's John Tucker joins US Live at Details John Nathan
Speaker 1: Schwampson to get the fence target will be eight eight
Speaker 1: basis points higher by the end of this year, assigned
Speaker 1: the markets making in three hikes plus the possibility of
Speaker 1: a fourth. Former New York Fed President Bill Dudley says
Speaker 1: the Santo Bank needs to get more hawkish. JP Morrigan
Speaker 1: and Goldman Sachs are forecasting for rate increases this year,
Speaker 1: and tomorrow's CPI report could put more pressure on the Fed,
Speaker 1: with estimates calling for an annual inflation rate north of
Speaker 1: seven percent in New York. On John Tucker Bloomberg Daybreak,
Speaker 1: All right, John, thank you. As inflation picks up, confidence
Speaker 1: in the global economic recovery appears to be fading. The
Speaker 1: details on that now from Bloomberg's or need a Young.
Speaker 1: A World Economic Forum survey finds just one in six
Speaker 1: government and business leaders are optimistic on the global recovery,
Speaker 1: and just one in ten things worldwide economic expansion will
Speaker 1: pick up speed. The Global Risks Report sites the pandemic
Speaker 1: climate change and rising social tensions among the biggest concerns,
Speaker 1: and those polls wants to see greater coordination among leaders
Speaker 1: to try to solve the world's problems. I'm gonna need
Speaker 1: a young Bloomberg daybreak Rita. Thanks. When it comes to
Speaker 1: the pandemic, Fiser's working on a new vaccine. The company's
Speaker 1: developing a hybrid shot, combining its original vaccine with a
Speaker 1: formula that chields against the omicron variant. Fiser says that
Speaker 1: will approach US regulators in March for clearance of the shot.
Speaker 1: And Nathan on the political front, lawmakers have the North
Speaker 1: Stream to pipeline in their sites to send a could
Speaker 1: vote this week to impose new sanctions on the gas
Speaker 1: pipeline that links Russia and Germany. And that's five things
Speaker 1: you need to notice start your day. Brought to you
Speaker 1: by Interactive Brokers Again, Futures are higher this morning, and
Speaker 1: straight ahead your latest local headlines plus the check of sports,
Speaker 1: and this is Bloomberg makes Karen sixty three on Wall Street,
Speaker 1: seventeen degrees in Central Park, still dealing with a bad
Speaker 1: tractor trailer crash got the northbound Deacon shut down at
Speaker 1: a hundred thirty nine Michael Barr is here with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Tenants of the Bronx
Speaker 1: department building where a deadly fire broke out Sunday had
Speaker 1: complained about the lack of heat, a broken radiator, and
Speaker 1: a door that did not close properly in the months
Speaker 1: before the blaze. According to city records, City officials say
Speaker 1: the fire appeared to have come from a malfunctioning space
Speaker 1: heater in an apartment, where residents fled without closing the door,
Speaker 1: and that sent black smoke throughout the building. New York
Speaker 1: Mayor Eric Adams this painful moment cantne it to a
Speaker 1: purposeful moment, as we send the right message of something
Speaker 1: as simple as closing the door. Mayor Adams says the
Speaker 1: death soul of the fire has been lowered to seventeen dead.
Speaker 1: New York's COVID nineteen infections may have reached a peak
Speaker 1: about a month after the city's first case of the
Speaker 1: omicron variant was identified. According to New York City Health
Speaker 1: Department records, the seven day average of people visiting emergency
Speaker 1: departments with COVID like illness has dipped significantly in all
Speaker 1: time burrols since the end of December. Meanwhile, New Jersey
Speaker 1: health officials say they may have eight thousand COVID related hospitalizations,
Speaker 1: nearing the state's pandemic peak in the third week of January.
Speaker 1: Governor Phil Murphy, we're recording more deaths tragically now, more
Speaker 1: than at any point in the past year. And remember,
Speaker 1: remember one year ago, we had only just begun our
Speaker 1: vaccination efforts. Governor Murphy says. Many towns and cities in
Speaker 1: New Jersey have reintroduced mask mandates. Chicago students planned to
Speaker 1: resume classes tomorrow after leaders of the teachers Union accepted
Speaker 1: a proposal with the district over nineteen COVID nineteen safety protocols.
Speaker 1: Chicago Mayor Lori langfoot, some will ask whom one and
Speaker 1: who lost? No one wins when our students are out
Speaker 1: of the place where they can learn the best and
Speaker 1: where they're safest. The deal still requires approval by the
Speaker 1: union's full membership. North Korea has test fired a second
Speaker 1: ballistic missile in less than a week. Bloomberg's Had Baxter
Speaker 1: reports Kim John Un apparently trying to send a clear
Speaker 1: sign that he meant what he said about having no
Speaker 1: desire to enter into any kind of nuclear talks with
Speaker 1: the US. It definitely a ratchets up tensions in the
Speaker 1: region itself as well. The missile launch first was reported
Speaker 1: by Japan's Coast Guard, then confirmed by South Korea's chiefs
Speaker 1: of Staff. Japan's Prime Minister Fumio Kashta calls the launch
Speaker 1: is extremely regrettable. Kim has announced his intent to develop
Speaker 1: weapons that can evade interception by US technology. In San Francisco,
Speaker 1: I'm at Baxter, Bloomberg Gay Break Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quickdake, powered
Speaker 1: by more than twenty seven under journalists and analyists more
Speaker 1: than a d twenty countries. I'm Michael bar This is Bloomberg, Nathan, Michael,
Speaker 1: Thank you, six thirty six on Wall Street Time for
Speaker 1: Bloomberg Sports Update with John Stash all right, Nathan. Four
Speaker 1: years ago, Georgia lost the National Championship Game to Alabama
Speaker 1: and overtime, and then last month the Bulldogs perfect season
Speaker 1: spoiled by the Crimson Tide in the SEC Championship game,
Speaker 1: and Bama led last night late third quarter. Georgia then
Speaker 1: went ahead a sixties seven yard run set up the
Speaker 1: game's first touchdown. Fourth quarter, Crimson Tide regained the lead,
Speaker 1: but then it was George's turn second at eighteen eight
Speaker 1: eighteen to go to clock running band A leading by
Speaker 1: five showing Blitz Street plays down up. Alabama is offside,
Speaker 1: so here's a teap throw to the episode. It is
Speaker 1: call par touchdown play eight, call forty yr TV. Later
Speaker 1: another TV pass and then a seventy nine yard pick
Speaker 1: six in the final min at Georgia ben Alabama in
Speaker 1: Indianapolis thirty three to eighteen. First national championship for the
Speaker 1: Bulldogs since nineteen eighty had the guard. Another big game
Speaker 1: for r. J. Barretty at a thirty two point game
Speaker 1: last week, also that game winning buzzer beater and thirty
Speaker 1: one points last night, Nicks beat the Spurs one eleven
Speaker 1: nineties six. Nets lost in Portland one fourteen to one
Speaker 1: oh eight Kevin Durant in defeat at twenty eight Kyrie
Speaker 1: Irving's second game of the season. He played forty minutes,
Speaker 1: scored twenty two. Rangers lost in l A to the
Speaker 1: King three to one. Black Monday in the NFL, three
Speaker 1: coaches got fired. Matt Naggey in Chicago, Mike Zimmer in Minnesota,
Speaker 1: and in a surprise Brian Flores in Miami. Joe Judge.
Speaker 1: He did meet with Giants owner John Mara on the
Speaker 1: day of the day gentleman retirement was made official. Mayor
Speaker 1: and the Giants have a gun to search for a
Speaker 1: new general manager. Don Maynard passed away at eighties six.
Speaker 1: Drafted by the Giants, they cut the Maynard went to
Speaker 1: the Jets, became a Hall of Fame wide receiver John
Speaker 1: Dash were Bloomberg Sports Nathan all Right, John, Thanks six
Speaker 1: thirty seven on Wall Street. Time to take a look
Speaker 1: at stocks, some of the names moving in the pre market.
Speaker 1: Bloomberg Radio and TV markets correspondent Creedy Goopta joins us
Speaker 1: as some earnings news from CVS crosses the Bloomberg terminal. Creedy,
Speaker 1: they absolutely do you have CVS coming out and actually
Speaker 1: boosting their EPs guidance. It looks like they have actually
Speaker 1: beat those estimates. Those shares are they were moving a
Speaker 1: should they now they are pairing some of those initial
Speaker 1: games on the headlines now about flat the tickers CVS.
Speaker 1: But keep an eye on this because it is of
Speaker 1: course going to be the kickoff of earning season, so
Speaker 1: you will see a lot of movement when it comes
Speaker 1: to regular trading. That being said, Nathan, we also have
Speaker 1: some analyst calls that are moving stocks in a pretty
Speaker 1: big way. A m d S top of my list,
Speaker 1: up two per cent in the pre market. This comes
Speaker 1: after Key Bank upgrades the chip maker to overweight from
Speaker 1: sector weight, putting a price target at a hundred and
Speaker 1: fifty five dollars to share. The last close was a
Speaker 1: hundred and thirty two dollars. The analyst thing that the
Speaker 1: company is set to benefit from robust cloud data center
Speaker 1: growth in two of a quote high teens per centage.
Speaker 1: That is quite the vote of confidence from Key Bank.
Speaker 1: And similar story when it comes to Las Vegas sans
Speaker 1: LVS up three percent. Remember that yesterday Bank of America
Speaker 1: had actually downgraded the stock JP Morgan, however, raising it
Speaker 1: to an overweight from a neutral, announcing a forty eight
Speaker 1: dollar price target, giving a little bit of a tailwind
Speaker 1: to the stock in the pre market. And moving on
Speaker 1: to Intel I n tc S your ticker up one
Speaker 1: and a half percent in the pre market. The chip
Speaker 1: maker hiring Microns. David Zensner asked the fl this is
Speaker 1: a big part of the big Intel shakeup at the top.
Speaker 1: And I'm gonna end here with American Airlines up one
Speaker 1: point four percent. A l is your taker after Morgan
Speaker 1: Stanley continues to have a bullish view on US airline sector.
Speaker 1: Expect unquote normal service to resume in two and accelerate
Speaker 1: in the back half to set up for a stronger year.
Speaker 1: In also upgrades American Airlines equal weight, all trimming targets
Speaker 1: for several other companies. Alright, so a few analyst upgrades there.
Speaker 1: Do we have any downgrades this morning? We can't have
Speaker 1: any upgrades without any down grade. Absolutely. New Core is
Speaker 1: the one that caught my I. N U ease the
Speaker 1: Taker down one point four percent after the steelmaker was
Speaker 1: downgraded to underperform from peer perform over at Wolf Research,
Speaker 1: putting a price target of a hundred and two dollars.
Speaker 1: The analysts quote most excited about downstream specialty medals names.
Speaker 1: But he's quote a trifecta of bad news for steel names.
Speaker 1: So of course New Court falling under that. N you
Speaker 1: ease the Taker once again, down one point four percent.
Speaker 1: Nathan all Right, Bloomberg Radio and TV Markets Correspondent, Creety
Speaker 1: Gupta with us this morning and taking a look at
Speaker 1: stocks as a whole. Ahead of the open, futures are
Speaker 1: moving higher, with SMP futures up seventeen points right now
Speaker 1: down futures up, NASTAC futures are higher by eighty three points,
Speaker 1: and the tenure treasury is up two thirty seconds. The
Speaker 1: yield one point seven five. Reiterating the breaking news, CVS
Speaker 1: has upgraded its forecast for adjusted earnings per share uh
Speaker 1: at a level that beat the average analyst estimate. CVS
Speaker 1: shares in the pre market are little changed. You're listening
Speaker 1: to Bloomberg Bloomberg eleven three oh Weather sunny but cold today,
Speaker 1: the high only near twenty tomorrow, partly sunny on your
Speaker 1: forty degrees and will be near forty on Thursday and
Speaker 1: or mostly cloudy, sky clear right now seventeen degrees. Markets,
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, for Bloomberg Business at and at Bloomberg
Speaker 1: Quick Tape. He's a Bloomberg Business lash and I'm Karen Moscow.
Speaker 1: Future is on the rise. This morning, we got to
Speaker 1: the first Word Breaking news desk for today's morning call.
Speaker 1: Here's Bill Maloney, Bill, good boarding and good morning, Karen.
Speaker 1: That's right. US features are in the green right now,
Speaker 1: with doubt features of ninety three point sides game seventeen. Well.
Speaker 1: The NASDA futures are higher by eight four The US
Speaker 1: tenure yield at one point seven six percent, Gold is up,
Speaker 1: for oil is climbing, and bigcoin is little changed. Japan
Speaker 1: felt point nine percent overnight, while up markets are also
Speaker 1: in the green, led by one percent gains in France
Speaker 1: and Germany. Back in the US on the economic front,
Speaker 1: at ten o'clock, the Powell's nomination hearing begins, and regarding
Speaker 1: earnings for Albertson's to report in the pre market and
Speaker 1: under news Goldman Saxon UBS reiterated their bullish calls on
Speaker 1: equities and wrapping things up. Alco was because the hold
Speaker 1: over at Deutsche Bank, and he raised overweight at key Bank.
Speaker 1: City Group is bullish on my cow, but downgraded Wind
Speaker 1: Resorts on evaluation, and IBM was cut to sell over
Speaker 1: at UBS Live from the first Breaking News stas com
Speaker 1: Bill Maloney, Karen play Bill, thank you, and here live
Speaker 1: breaking news over your Bloomberg time, Squawk on your terminal
Speaker 1: squ a w K and that's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. An
Speaker 1: investigation is underway into the Bronx department fire that took
Speaker 1: at least seventeen lives, including eight children. The space eater
Speaker 1: is being blamed for the cause of the fire, but
Speaker 1: the apartment door did not close, sending thick blck smoke
Speaker 1: throughout the building. New York Mayor Eric Adams called it
Speaker 1: a global tragedy because many of the victims are immigrants
Speaker 1: from Gambia in West Africa. A deal has been reached
Speaker 1: to get schools open again in Chicago. Students will be
Speaker 1: back in the classroom tomorrow after teachers walked out January five.
Speaker 1: The teachers union and the city reached an agreement over
Speaker 1: safety precautions around COVID nineteen. Georgia beat Alabama thirty three
Speaker 1: eight teen to win college football's national championship. In the NBA,
Speaker 1: the Knicks and Celtics won. The Nets lost in the NHL.
Speaker 1: The Bruins beat the Capitol seven three, the Rangers lost.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick To powered by more than seven hundred
Speaker 1: journalists and analysts more than twenty countries at Michael Barr.
Speaker 1: This is Bloomberg. The following commentary is from Bloomberg Opinion.
Speaker 1: Jobs report makes a March FED rate hike nearly a
Speaker 1: done deal. I'm Brian Schapatta, A colmis for Bloomberg Opinion.
Speaker 1: Only a few hurdles remained before it's safer bond traders
Speaker 1: to assume that the Fed will start raising interest rates
Speaker 1: in March. The US economy just cleared a big one
Speaker 1: with the latest report on the labor market. The unemployment
Speaker 1: rate tumbled a three point nine percent, beating projections for
Speaker 1: a dip to four point one percent. Average early earnings
Speaker 1: jump four point seven percent from a year ago, handily
Speaker 1: outpacing the median forecast. For traders who are trying to
Speaker 1: pinpoint the FEDS path, it all boils down to the
Speaker 1: calendar of economic releases. Next up consumer price index data
Speaker 1: that's expected to show a seven point one percent increase
Speaker 1: from a year ago. Two weeks later comes a FED decision.
Speaker 1: The central Bank goes to painstaking links to signal to
Speaker 1: markets that is about to do something meaningful with the
Speaker 1: three point nine percent shopless rate and inflation that's expected
Speaker 1: to remain way above target. It stands to reason that
Speaker 1: the Fed could insert some language into its next statement
Speaker 1: that would prime markets for a March rate hike. It's
Speaker 1: the new year and way past time for the Federal
Speaker 1: up the narrative. The economy is in an inflationary boom,
Speaker 1: and it's ready to move interest rates off the zero
Speaker 1: lower bound. I'm Brian Schapada. For more opinion, please go
Speaker 1: to Bloomberg dot com, Slash Opinion or opi and go
Speaker 1: on the Bloomberg terminal. These has been Bloomberg Opinion and
Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this time,
Speaker 1: and terminal customers can read more at O P I
Speaker 1: N go. It is six fifty on Wall Street. Let's
Speaker 1: turn to news in science and technology now with the
Speaker 1: Bloomberg and j I T STEM Report, brought to you
Speaker 1: by New Jersey Institute of Technology, which announced that renounced
Speaker 1: scholar and educational leader, doctor tek Limb will join the
Speaker 1: university as n j I T S ninth President. Learn
Speaker 1: more at n j I T dot e DU. Now
Speaker 1: here's just making news in science, technology, engineering, and math
Speaker 1: and Hong Kong authorities are doubling down on their controversial
Speaker 1: COVID zero policy. It's reimposing some of its strictest limits
Speaker 1: since the pandemic began. Kindergartens and primary schools will close again. Meanwhile,
Speaker 1: passengers from what are considered high risk countries are said
Speaker 1: to be and from transitting through Hong Kong's international airport.
Speaker 1: The United States staggered through a steady onslaught of deadly
Speaker 1: billion dollar weather and climate disasters and an extra hot one,
Speaker 1: while the nation's greenhouse gas emissions last year jumped six
Speaker 1: per cent because of surges and coal and long haul trucking.
Speaker 1: Three different reports released Monday, though not directly connected, paint
Speaker 1: a picture of a US struggling with global warming and
Speaker 1: its efforts to curb it. The World Economic Forum says
Speaker 1: cybersecurity and space or emerging risks to the global economy,
Speaker 1: adding to existing challenges posed by climate change and the
Speaker 1: coronavirus pandemic. The Global Risk Report is usually released ahead
Speaker 1: of the annual elite winter gathering of CEOs and world
Speaker 1: leaders in the Swiss ski resort of Davos, but the
Speaker 1: event has been postponed for a second year in a
Speaker 1: row because of COVID and that's a Bloomberg n J
Speaker 1: I t Stem report. Nathan, thank you, Karen. We're lying
Speaker 1: from the Bloomberg Interactive Brokers studios where it's six fifty
Speaker 1: two on Wall Street and it's time now to check
Speaker 1: what's going on in the c Some of the top
Speaker 1: stories from our nation's capital include FED Jair J. Powell
Speaker 1: promising to take on inflation ahead of his Senate reconfirmation hearing,
Speaker 1: nordstream to sanctions set for a Senate vote as the
Speaker 1: US and Russia talk, and President Biden in a new
Speaker 1: push for voting rights as allies fhere he may be
Speaker 1: too late. Let's bring in Bloomberg Government reporter Emily Wilkins
Speaker 1: with us from Washington, d C. On a morning Emily,
Speaker 1: where a lot of investors eyes will be on the
Speaker 1: Senate Banking Committee for a FED share Powell's confirmation hearing. Yes,
Speaker 1: this is going to be a big one today. We're
Speaker 1: going to expect Powell to really just start off with
Speaker 1: the with the big elephant in the room, which is inflation.
Speaker 1: He's going to say that the Central Bank will prevent
Speaker 1: higher inflation from becoming in trench obviously we've already seen
Speaker 1: it for that for a number of months. He's also
Speaker 1: going to caution that a post pandemic economy might look
Speaker 1: different than the previous economy that we saw pre pandemic.
Speaker 1: And you're going to pledge the lawmakers that the Fed
Speaker 1: will use their tools to the court their economy as
Speaker 1: well as the strong labor market and really try and
Speaker 1: make sure that inflation is able to come back down. Uh.
Speaker 1: We can express a number of questions some lawmakers not
Speaker 1: just on inflation, but also on unemployment numbers that have
Speaker 1: been coming out recently. A number of them, including last Fridays,
Speaker 1: have fallen below the lamp UH. And it's not just
Speaker 1: say how will you also have Governor Lao Bernier whose
Speaker 1: go who is picked by Biden to serve as vice chair.
Speaker 1: She's going to come before the committee on Thursday, right,
Speaker 1: and she's up for vice chair for supervision, the top
Speaker 1: regulatory position. How much could regulation play into what we
Speaker 1: hear from the senators today when they question Powell, though,
Speaker 1: I think that's definitely going to play a part as
Speaker 1: far as what kind of said to what does the
Speaker 1: said thinking about as it goes forward? I mean, these
Speaker 1: are a number of lawmakers that I think those Democrats
Speaker 1: and Republicans alike who are very concerned about the inflation
Speaker 1: numbers that they're seeing, they understand that this is something
Speaker 1: that Americans are are very much a few, very very
Speaker 1: real in a real and tangible way. And so I
Speaker 1: think that's going to be one of the top of
Speaker 1: mind concerned, especially concerning to the certain fact that you know,
Speaker 1: Paula has been had of been fed to the last
Speaker 1: four years, and this inflationary rise has happened on his watch.
Speaker 1: And another reason, of course, we're gonna be watching the
Speaker 1: Senate this week. Votes could be coming on sanctions against
Speaker 1: nord Stream to the pipeline between Russia and Germany, just
Speaker 1: as the US and Russia are in the midst of
Speaker 1: security talks. I mean, that can really complicate things. Yeah,
Speaker 1: a lot of Democrats are very concerned about this vote.
Speaker 1: They say that at this point, the US implying these
Speaker 1: sanctions really showed the division between the US and some
Speaker 1: of its European allies like Germany, and law makers say
Speaker 1: that this is the absolute wrong time to do something
Speaker 1: like that, as the US currently engaged in negotiations with
Speaker 1: Russia over the situation at the Ukraine border. But this
Speaker 1: vote came about in part because Senators Crews had blocked
Speaker 1: a number of picks and nominations by President Biden from
Speaker 1: getting a vote, and as part of a deal cut
Speaker 1: with Majority leader Chuck Schumer, Schumer agreed to allow a
Speaker 1: vote on this UM if Crews would go ahead and
Speaker 1: allow a number of these pass. And so that's ever
Speaker 1: seen this vote happen today. UM, And there's there's a
Speaker 1: question on whether you're going to see that that sixteen
Speaker 1: votes that that's needed to move forward. That means that
Speaker 1: ten Democrats are going to have to join Republicans. It
Speaker 1: would mean that all Republicans would have to vote for
Speaker 1: this UM. And so that's the sort of numerous dynamics
Speaker 1: that are playing out today, uh in regards to the vote.
Speaker 1: But but there's certainly a lot of concerned about what
Speaker 1: this would mean for the US relationship with Jeremy and
Speaker 1: Europe at very critical time for these various countries to
Speaker 1: be standing unified. Now last minute here, Emily, I'm sure
Speaker 1: you're gonna be watching this afternoon as President Biden heads
Speaker 1: to Atlanta to keep up this push for voting rights legislation. Yes,
Speaker 1: this is coming as the Senate trying to pass again
Speaker 1: the voting rights build and it is considering a potential
Speaker 1: change the Senate rules to get them through. Biden is
Speaker 1: going to be in Atlanta. You're going to see Vice
Speaker 1: President Kamala Harris come, You're going to see a number
Speaker 1: of major civil rights leaders and lawmakers be there. It's
Speaker 1: going to be a big moment for Biden. But the
Speaker 1: reality is that there's not really pass forward. To get
Speaker 1: any of this voting legislation done. Uh. Like I mentioned,
Speaker 1: it would require a rules change, and at this point
Speaker 1: Senators Joe Mansion and Sender's Kristin Senema has said that
Speaker 1: they are opposed to that. Um, it doesn't seem like
Speaker 1: Republicans are budging on supporting any of these pieces of legislation.
Speaker 1: So really it's going to be a moment where Biden
Speaker 1: is going to be sort of leading it to the
Speaker 1: messaging calling this an important moment, this is something that's
Speaker 1: critical to be done. We'll be interested to see if
Speaker 1: he takes a stance on what should happen with the
Speaker 1: Senate rules on the filibuster. That might be the big
Speaker 1: news that comes out of this today. Alright, Bloomberg Government
Speaker 1: report Emily Wilkins, you know you'll be watching for that
Speaker 1: very closely. Thanks for joining us ahead of all that,
Speaker 1: And a reminder that you can tune back into Bloomberg
Speaker 1: Radio this morning right around ten am Wall Street time
Speaker 1: as the Senate Banking Committee begins its confirmation hearing for
Speaker 1: a second term for J. Powell as Chairman of the
Speaker 1: Federal Reserve. And you can read much more about all
Speaker 1: these stories out of Washington, d C. At Bloomberg dot
Speaker 1: com or on the Bloomberg terminal. Looking ahead to the market,
Speaker 1: open futures are moving higher this morning. SMP futures are
Speaker 1: up seventeen points, DAL futures up eighty four, NASTAC futures
Speaker 1: are higher by eighty two points. The tenure Treasury is
Speaker 1: up one thirty second, the yield one point seven five percent.
Speaker 1: Bloomberg Surveillance is up next. For Karen Moscow. I'm Nathan Hagar,
Speaker 1: and this is Bloomberg