Speaker 1: Live from the Bloomberg Interacted Berger Studios. This is Bloomberg
Speaker 1: day Break for Tuesday, May seventeen two. Coming up, the
Speaker 1: sour stocks rise, ahead of key retail sales data and
Speaker 1: earnings from Walmart and Home Deep Boom new developments this morning,
Speaker 1: and Elon Musk's pursuit of Twitter where it Buffett changes
Speaker 1: Banks will explain, and the Senate moves to a passage
Speaker 1: of forty billion dollars in aid to Ukraine. President Biden
Speaker 1: heads the Buffalo today following Saturday's deadly mass shooting. Plus
Speaker 1: New York City's health chief urgess people to mask up.
Speaker 1: I'm Michael blarn More ahead, I'm trying Stashdower. And sports,
Speaker 1: The Yankees stay red hot with an easy win in Baltimore.
Speaker 1: The Islanders have hired a new coach. That's all training.
Speaker 1: Head on Bloomberg Daybreak on Bloomberg he Live in Free
Speaker 1: on New York Bloomberg one, Washington d C Bloomberg one
Speaker 1: oh six one, Boston Bloomberg nine sixties and Francisco Sirius
Speaker 1: XAM one nineteen and around the world Old on Bloomberg
Speaker 1: Radio dot Com and via the Bloomberg Business add and
Speaker 1: Good morning, I'm Karen Moscow and Tom John Tucker. Bloomberg
Speaker 1: Day Break being brought to you by B and Y
Speaker 1: Melon Pershing's Insight Conference back in person June fifteenth through
Speaker 1: the seventeenth in Grapevine, Texas of must attend event for
Speaker 1: financial advisors. Register today at Insight dot B and y
Speaker 1: melon dot com. And US futures are higher this morning
Speaker 1: six so went on Wall Street, and we check the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg
Speaker 1: S and P futures up about seventy five points down.
Speaker 1: Futures have four hundred eighty NASDAG features up two hundred
Speaker 1: eighty nine. Tenure Treasury down six thirty seconds, yield two
Speaker 1: point nine zero percent. They yield on the two year
Speaker 1: two point six zero percent. And now I'm ex screwed.
Speaker 1: Oil is up six tenths percent, John and Karen. The
Speaker 1: rising and futures follows a late day sell off on
Speaker 1: Wall Street. The tech heavy NASTAC was hardest hit, following
Speaker 1: more than one percent New York State manufacturing activity onlex
Speaker 1: ethidly contracted in May and that stoked concerns of slowing growth.
Speaker 1: Recession fears are real, according to the voyas senior portfolio
Speaker 1: manager Barbara Reinhardt, we think that the world is going
Speaker 1: to go from worrying about inflation to worrying about the recession,
Speaker 1: probably in just a few months time. So we think
Speaker 1: that this is the very beginning of the worries that
Speaker 1: we see happening for the for the economy. Well Investment
Speaker 1: Management's Barbara Reinhardt made the comments on Bloomberg Business Week
Speaker 1: her weekdays from two to find pm Eastern on Bloomberg Radio. Meantime,
Speaker 1: John Cash is king. That's according to the latest Bank
Speaker 1: of America Fund Managers survey, which shows cash levels among
Speaker 1: investors hit the highest level since September of two thousand one.
Speaker 1: Stegulation fears are the highest and fourteen years investors see
Speaker 1: hawkish central banks as the biggest risk, followed by a
Speaker 1: global recession. And speaking of central banks, we could get
Speaker 1: more clues on the path of interest rate hikes. Six
Speaker 1: FED officials speaking events today. The highlight comes this after
Speaker 1: do and when FED Share J Pale's interviewed for a
Speaker 1: live Wall Street Journal event. Well in Hia. Overnight, John
Speaker 1: starkshare Winners technology shares climbed as investors assessed China's efforts
Speaker 1: to stamp out COVID. We get the recab from Bloomberg's
Speaker 1: Juliette Sally in Singapore. Good morning, Juliette, Good morning, Karen.
Speaker 1: The m s c I Asia Pacific Index gained for
Speaker 1: a third session, its longest winning streaks since mid March.
Speaker 1: China's tech companies jumped on optimism. Beijing may ease up
Speaker 1: on a year long clampdown following a meeting between regulators
Speaker 1: and corporate giants. Adding to the positive time, Shanghai reporting
Speaker 1: three days of zero community transmission. This is a milestone
Speaker 1: that could lead officials to start unwinding the punishing lockdown
Speaker 1: and reopening. Stocks also rose in Japan after the nation
Speaker 1: announced it will allow small tourist groups on package tours
Speaker 1: into the country this month on an experimental basis. In Singapore,
Speaker 1: Juliette Sally, Bloomberg Daybreak, Thanks Juliet. Turning to corporate news,
Speaker 1: Fresh developments this morning and whether Elon Boss will pursue
Speaker 1: he's takeover of Twitter. Let's get the latest from Bloomberg's
Speaker 1: Good Morning, Good morning John. Elon Musk says he'll proceed
Speaker 1: with his forty four billion dollar Twitter takeover only if
Speaker 1: the social media giant proves that less than five percent
Speaker 1: of its accounts are fake. He shared even more of
Speaker 1: his skepticism yesterday at a Miami tech conference, estimating that
Speaker 1: bots make up at least twenty of all Twitter accounts. Now.
Speaker 1: Musk shocked the market last week when he tweeted that
Speaker 1: his offer was temporarily on hold and doubts are growing
Speaker 1: that he would be able to pull off his acquisition
Speaker 1: and that he may consider dropping his bidding price. Right now,
Speaker 1: shares of Twitter are down about two percent in early trading.
Speaker 1: Live in New York, I'm reneed a young Bloomberg day break.
Speaker 1: All right, Renita, thank you, while we move from one
Speaker 1: billionaire to another. Now with news from Lauren Buffett, the
Speaker 1: Berkshire Hathaway chairman, said goodbye to one a long time
Speaker 1: bank misteake and and if they bet on another one.
Speaker 1: Filing shows that Buffett ended his long running investment in
Speaker 1: Wells Fargo in the first quarter and has now invested
Speaker 1: roughly two point nine billion dollars in s A group
Speaker 1: shares a city. You're up more than four percent this
Speaker 1: morning and car big day on the retail front just
Speaker 1: a few minutes ago. Home Depot reported first quarter sales
Speaker 1: above estimates. We're also gonna hear later this morning from Walmart.
Speaker 1: That's gonna preview on that from Bloomberg's Tom Buzby. The
Speaker 1: focus for investors is whether sales continued to grow at
Speaker 1: the nation's biggest retailer and largest grocery seller amidst stubbornly
Speaker 1: high inflation, or whether consumers were forced to pull back
Speaker 1: a bit last quarter. Bloomberg consensus calls for adjusted earnings
Speaker 1: per share of a dollar forty eight on revenues of
Speaker 1: just over nine million dollars and comp usales forecast rise
Speaker 1: two and a quarter percent. Tom Busby, Bloomberg Daybreak, Great Tom,
Speaker 1: thank you. Also, this morning, before the market opens, the
Speaker 1: government issues economic data on retail sales, we get a
Speaker 1: preview from Bloomberg's Lisa Mateo. The median forecast calls for
Speaker 1: a game, but Bloomberg Economics anticipates slower growth in April
Speaker 1: retail sales. The reason signs of stress as inflation chips
Speaker 1: away at household finances. Consumers are turning to credit to
Speaker 1: pay for essentials such as food and gasoline. That doesn't
Speaker 1: bode well for discretionary spending. Lisa Matteo Bloomberg Daybreak. Thanks Luca,
Speaker 1: we now turn to developments involving the war in Europe.
Speaker 1: Senators have advanced a Ukrainian aid bill with wide support,
Speaker 1: Amy Morris since DeSales from our Bloomberg room in Washington.
Speaker 1: The Senate overwhelmingly moved the bill forward with a vote
Speaker 1: of eighty one to eleven. The measure would give forty
Speaker 1: billion dollars an aid to Ukraine, including money for weapons
Speaker 1: training and humanitarian aid. Now this was a procedural vote.
Speaker 1: A final vote on the measure is expected as early
Speaker 1: as tomorrow if all lawmakers waive rules on debate, and
Speaker 1: then from there it would go to the President's desk.
Speaker 1: Last week, Senator Rand Fall of Kentucky held up the
Speaker 1: bill over concerns about the cost and how the money
Speaker 1: would be spent in Washington. I'm anymore as Bloomberg Daybreak right, Amy,
Speaker 1: thank you. And it appears that Finland and Sweden's bid
Speaker 1: to join NATO is hitting a roadblock. Turkey's President er
Speaker 1: Towan has put the brakes on the move, saying he
Speaker 1: won't allow the countries to join the alliance because of
Speaker 1: their stances on Kurdish militants. Erdman calls Sweden a nesting
Speaker 1: ground for terrorists. Even if he doesn't end up locking
Speaker 1: membership are Towan could extract concessions from NATO to allow it.
Speaker 1: And this is Bloomberg. Thanks Karen's six oh sipol of
Speaker 1: Wall Street, and let's bring in Michael Barne now to
Speaker 1: find out what else is going on in New York
Speaker 1: and around the world. John, thank you kindly, Sarah. President
Speaker 1: Biden heads the Buffalo, New York today after Saturday's deadly
Speaker 1: mass shooting at a supermarket. Authorities say the gunman is
Speaker 1: an eighteen year old white supremacist. Buffalo Mayor Byron Brown.
Speaker 1: It's been hard. Uh, it's shocking, it's painful, and um,
Speaker 1: I've worked hard to hold this community together. Mayor Brown
Speaker 1: says he will also talk with President Biden about federal
Speaker 1: gun laws in New York. Of vigils held the Harlem
Speaker 1: Church last night for the victims in Buffalo. Among those
Speaker 1: in attendance at Bethelo Gospel Assembly, New York Attorney General
Speaker 1: Letitia James. We are in pain for the thirteen individuals
Speaker 1: who were shot, in the ten beautiful lives that were lost,
Speaker 1: and for their families. That are suffering and for the
Speaker 1: Buffalo community that is in so much pain, so much anger.
Speaker 1: Along with a G James, New York Mayor Eric Adams
Speaker 1: also spoke. Adams talked about Buffalo and an eleven year
Speaker 1: old girl who was shot and killed by a gunman
Speaker 1: riding a scooter in the Longwood section of the Bronx
Speaker 1: last night. We have to be consistent because if you
Speaker 1: take the life of young Kiera merely because of which
Speaker 1: she lived, you no more less demoniiced than a person
Speaker 1: that took the life of those ten innocent people in Buffalo.
Speaker 1: Mayor Adams also slam social media. New York City health
Speaker 1: officials urging New Yorkers to wear masks in all indoor
Speaker 1: public settings as the city approaches high risk COVID nineteen
Speaker 1: alert status. New York City has been averaging around thirty
Speaker 1: reported new cases of COVID nineteen per day over the
Speaker 1: past week. Five states old primary elections today ahead of
Speaker 1: the November mid terms. In Pennsylvania, both parties hope to
Speaker 1: pick up an open Senate seat. In the Republican primary.
Speaker 1: TV star Dr Memon Oz has former President Trump's endorsement.
Speaker 1: Oz is running against former Bridgewater CEO Dave McCormick. But
Speaker 1: conservative commentator Kathy Barnett is surging in the polls Bloomberg
Speaker 1: Government Elections, reported Greg Darrow. Sometimes when we have races
Speaker 1: where we have two front runners beating up on each other,
Speaker 1: sometimes a third candic can kind of steak up there
Speaker 1: by surprise. And but Barnett did rise in the polls
Speaker 1: in the last seven or ten days bloombergs. Greg Darrow says,
Speaker 1: as for the Democrats, Lieutenant Governor John Fetterman, who had
Speaker 1: a health scare, probably has enough of a lead to
Speaker 1: still win the primary Global news twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Tank, powered by
Speaker 1: more are than seven hundred journalists and analysts, are more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg, John, Michael,
Speaker 1: thank you. He had six ten on the walls free
Speaker 1: time down for the Bloomberg Sports update. He was John Stesshower.
Speaker 1: Thanks John. Here in mid May, the Yankee still yet
Speaker 1: to reach double figures in the lost called another way
Speaker 1: and this one in Baltimore, with the big hit coming
Speaker 1: from an unlikely source is hiding there down the right
Speaker 1: field line, a long number cent and there and it
Speaker 1: is it is a home run. Wow. He hit one
Speaker 1: right down the line and it just got over the
Speaker 1: high wall near the pole. Well, that is really something.
Speaker 1: A three run home run for Travino, w f A
Speaker 1: and the Yankees first home run hit by a catcher
Speaker 1: Jose Trevino Kyle Hagas Yoka, both batting under two hundred.
Speaker 1: It's hardly hurt the Yankees. They are announced twenty six
Speaker 1: and nine nineteen wins the last twenty two games to
Speaker 1: beat the Oriel six to two. Josh Donaldson Anthony Rizzo
Speaker 1: with back to back homers of the ninth that ain't
Speaker 1: Luis Severino allowed only one hit. The out hit the
Speaker 1: Orls eleven to three the Yanks and only allowed seven
Speaker 1: hits over the last two games. Mets and Cardinals reined
Speaker 1: out City Field straight doubleheader today for the weekend F
Speaker 1: seven Game seven's. The NBA and NHL playoffs took the
Speaker 1: night off, but back tonight with the start of the
Speaker 1: NBA's Eastern Conference Finals Celtics and Heat in Miami. They
Speaker 1: met in the East Finals two years ago in Miami
Speaker 1: won that series. Stanley Cup second round starts tonight with
Speaker 1: an in state battle Tampa Bay and Ford. Also St.
Speaker 1: Louis at Colorado Rangers and Hurricanes Game one in Raleigh tomorrow.
Speaker 1: The Islanders, who just fired their coach, Barry Trots, promoted
Speaker 1: his assistant Lee Lambert. Pg H Championship teas off Thursday
Speaker 1: in Tulsa. Def Enny Champ. Phil Mickelson not playing, but
Speaker 1: Tiger woods Is says his legs, nearly injured in that
Speaker 1: car accident last year, was feeling better. John Stash Atward
Speaker 1: Bloomberg Sports, John alright, thanks John, ahead of the Cans
Speaker 1: show for the the Lord Walls freed right now, the DAL
Speaker 1: futures of five under three points, smp E Mini futures
Speaker 1: up seventy four points, and the nasdack futures are up
Speaker 1: two D seventy six. You're listening to Bloomberg Day Break
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Speaker 1: markets headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot com, the Bloomberg Business Apt and at
Speaker 1: Bloomberg quicktape is a Bloomberg business lash and I'm Karen
Speaker 1: Moscow and we continue to watch shares of Twitter this
Speaker 1: morning after Elon must declared he won't proceed with his
Speaker 1: forty four billion dollar takeover unless the social media giant
Speaker 1: can prove both make up fewer than five percent of
Speaker 1: its users, and Twitter shares are down more than two
Speaker 1: percent this morning. Meanwhile, futures are on the rise. Stocks
Speaker 1: in Europe gay meaning as well, and risk appetite is
Speaker 1: returning to markets that have been hurt by concerns about
Speaker 1: global economic growth and searching prices as well as policy tightening.
Speaker 1: We check the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg. Right now, is in P futures up
Speaker 1: seventy one points, Dow futures are up four hundred ninety
Speaker 1: one and NASDAC futures have two hundred sixty eight The
Speaker 1: decks in Germany's up one point six percent. At ten
Speaker 1: year treasury down eight thirty seconds, the Yale two point
Speaker 1: nine one percent yield on the two year two point
Speaker 1: six one percent. NIMEX crude oil is up seven tenths percent,
Speaker 1: or eighty five cents and a hundred fifteen dollars five
Speaker 1: cents a barrel, and comic schools have seven tenths percent
Speaker 1: or twelve dollar sixty cents at eighteen twenty six sixty
Speaker 1: an ounce, the Euro one point oh four nine six
Speaker 1: against the dollar, British found one point two four six
Speaker 1: four the end at one twenty nine point two four
Speaker 1: and Bitcoin this morning higher up to percent at thirty thousand,
Speaker 1: five hundred dollars and as a Bloomberg business flaves. Now
Speaker 1: here's Michael bar with more on what's going on around
Speaker 1: the world. Muchael Karen, thank you for much. President Biden
Speaker 1: travels to Buffalo, New York this morning to meet with
Speaker 1: the families of the victims of saturday supermarket shooting had
Speaker 1: left ten people dead, all of them black. This as
Speaker 1: we learned the eighteen year old suspected shooter was allegedly
Speaker 1: inspired by the Races Great Replacement theory. Five states will
Speaker 1: hold primary elections today. Pennsylvania is trying to decide and
Speaker 1: open Senate seat ahead of the mid terms. Other states
Speaker 1: holding primaries are Idaho, Kentucky, North Carolina, and Oregon. In baseball,
Speaker 1: the Yankees beat the Orioles six to the Mets Games
Speaker 1: reigned out, the Red Sox and Giants won the Nationals,
Speaker 1: and A's lost. Global news twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalists and analysts more than a hundred
Speaker 1: twenty countries. Michael bar this is Bloomberg, John, Thank you, sir.
Speaker 1: It is six twenty on Wall Street. We were lying
Speaker 1: for the Bloomberg into Antibroker's studios. This is Bloomberg Daybreak. Well,
Speaker 1: the parade of earnings continuing this morning. Some of the
Speaker 1: retailers we heard a few minutes ago. For Home Depot,
Speaker 1: they're boosting the outlook for the year. They had a
Speaker 1: surprise increase in first quarter revenue, continued strong demand for
Speaker 1: home improvements supplies. And also this morning when you get
Speaker 1: the fiscal first quarter results before the market open from Walmart,
Speaker 1: let's get a preview now from Jen Bartashes, senior analysts
Speaker 1: with Bloomberg Intelligence. Every time I count out the American consumer,
Speaker 1: I'm dead wrong. Jan Good morning, John. What are the
Speaker 1: results gonna tell us from Walmart? Abount the American consumer
Speaker 1: in the midst of roaring inflation. Well, it's a it's
Speaker 1: an interesting thing because I think a lot of people
Speaker 1: are looking to Walmart to understand the state of the
Speaker 1: average consumer in the United States, and so it will
Speaker 1: be really a read through for other retailers in terms
Speaker 1: of how that person is performing. But all indicators show
Speaker 1: that people are still spending. Um. It may not be
Speaker 1: as aggressively as it was last year when people had
Speaker 1: stimulus funds in their pocket, but they are still they're spending. Okay,
Speaker 1: So the top line, let's what are sales going to
Speaker 1: look like for Walmart? Well, revenue is estimated to commanded
Speaker 1: about a hundred and thirty nine billion dollars for the
Speaker 1: quarter UM, and that translates to an adjusted DPS of
Speaker 1: a dollar forty eight um in terms of same store sales.
Speaker 1: Right now, consensus is expecting something that's at the high
Speaker 1: end of the range that Walmart gave in terms of
Speaker 1: what they were expecting UM. But what we see when
Speaker 1: we go to stores or that people are in the stores,
Speaker 1: and so it does seem that you know, there's a
Speaker 1: good chance that they could come in at that top
Speaker 1: end of that range. What are the comps? Is It
Speaker 1: going to be a difficult one because that you have
Speaker 1: the stimulus checks last year. It is a difficult comparison
Speaker 1: to last year. Last year, people had expended unemployment, they
Speaker 1: had stimulus funding, um. And at the same time they
Speaker 1: were also many people were getting much higher salaries in
Speaker 1: terms of hourly pay than they had been before. So
Speaker 1: there was a lot of spending that was happening, and
Speaker 1: a lot of it was on discretionary items. So thanks
Speaker 1: for entertainment or for your home. Um. This year, there's
Speaker 1: still a lot of spending. It's maybe shifting categories however, UM.
Speaker 1: So people may be spending a little bit more on food,
Speaker 1: a little bit less on decorations. Um. But the net
Speaker 1: effect is that the comparisons are difficult, but we're still
Speaker 1: expecting to see positive growth over last year. Okay. In
Speaker 1: terms of inflation, can Walmart pass along price increases or
Speaker 1: does that eat into their their margins that they swallow
Speaker 1: that they have the ability to swallow some, which which
Speaker 1: you know is part of why we think that gross
Speaker 1: margin is going to stay, you know, fairly flat or
Speaker 1: contract a little bit just because of the higher cost.
Speaker 1: But because Walmart is such a large company, they have
Speaker 1: so much scale that they do have negotiating power with
Speaker 1: their suppliers to really keep prices under control, and where possible,
Speaker 1: they try to pass that through to their customers and
Speaker 1: not raise prices until they absolutely have to. Does Walmart
Speaker 1: have a credit card? I'm trying to engage whether or
Speaker 1: not people are spending more on credit or is it
Speaker 1: cash right up front? Um? Well, they certainly a lot
Speaker 1: of people in stores they spend with with with credit
Speaker 1: cards at Walmart. Our first of five serve credit card
Speaker 1: data that we have that we look at shows that
Speaker 1: spending for the mass merchants UM started to tail off
Speaker 1: a little bit in April, and that's when we saw
Speaker 1: the height of the comparison to stimulus funding last year. UM.
Speaker 1: So that is happening, um. But um, it's it seems
Speaker 1: that at the beginning of the quarter was stronger we
Speaker 1: had to think a very solid Easter UM, and then
Speaker 1: the difficult comparisons for stimulus really kicked in. We get
Speaker 1: the retail sales numbers from the government. I'm curious, do
Speaker 1: you is Walmart a better indicator than government figures? Well,
Speaker 1: it's hard to say. I think the benefit the benefit
Speaker 1: of looking at a company like Walmart is that a
Speaker 1: huge number of people across the country shop there, um,
Speaker 1: and so it really does tell you kind of what
Speaker 1: your average consumer is, how they're how they're behaving, um.
Speaker 1: And you know, people buy food at Walmart, they also
Speaker 1: buy non food items at Walmart, so they get a
Speaker 1: very good idea of how people are behaving. But when
Speaker 1: you look at a reach killer that's that big, what's
Speaker 1: the one thing that you're going to really latch on
Speaker 1: as soon as the earnings come across and uh more
Speaker 1: details later in the morning. Well, you know, everybody looks
Speaker 1: at the comps, which are important, but I'm also very
Speaker 1: looking very closely at where e commerce is because that
Speaker 1: is a business they've invested heavily in, so we want
Speaker 1: to make sure that it's still growing, although the growth
Speaker 1: rate is probably going to be a little lower. And
Speaker 1: then breaking down that comparison um sales number into how
Speaker 1: the traffic meaning how many people are going into the stores,
Speaker 1: and then the ticket is how much are people spending
Speaker 1: each time they're in the store. So that will give
Speaker 1: us a lot more insight into how the consumer is behaving.
Speaker 1: All right, Jen always applies to appreciated. Jen Bartash is
Speaker 1: from Bloomberg Intelligence. Bloomberg Intelligence providing unique real time research
Speaker 1: and context on the industries at all the market and
Speaker 1: government factors that impact business terminal customers. You can access
Speaker 1: this function at b I go. Right now the dalphiachs
Speaker 1: op four hundred eighty seven points SMP futures up sixty nine.
Speaker 1: You're listening to Bloomberg day Break, the Bloomberg Weather from
Speaker 1: Rob carollin sunny and breezy. The high temperature seventy five today,
Speaker 1: clear and breezeat tonight, glows in the mid fifties. Tomorrow
Speaker 1: Morris sunshine breezy seventy to seventy five degrees. Broadcasting live
Speaker 1: from the Bloomberg Interactive Broker Studio in New York, Bloomberg
Speaker 1: Eleving creon to Washington, d C, Bloomberg on to Boston,
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Speaker 1: sixty to the Country Sirius XM to A one ninet
Speaker 1: and around the globe the Bloomberg Business at and Bloomberg
Speaker 1: Radio dot Com. This is Bloomberg day Break. So it's
Speaker 1: thirty on Wall Street. Good morning. I'm John Tucker and
Speaker 1: I'm Karen Moscow. We are just about three hours away
Speaker 1: from the open of US Trading. It's time for the
Speaker 1: five things you need to Notice start your day. Brought
Speaker 1: to you by Interacted Brokers Simple ib k are Global
Speaker 1: Trader app depositing your local currency and trade stocks in
Speaker 1: the US, Europe and Asia. Start your free trial at
Speaker 1: ib k r dot com Slash Global Trader up. First
Speaker 1: fresh developments this morning on Elon musk pursuit of Twitter,
Speaker 1: Bloomberg's or Need a Young joins US Live with more.
Speaker 1: Good Morning Nina, Good morning Karen. Elon Musk says he'll
Speaker 1: proceed with his forty four billion dollar Twitter takeover only
Speaker 1: if the social media giant proves that less than five
Speaker 1: percent of its accounts are fake. Dan I'ves, Managing director
Speaker 1: of Web Bush Securities, beliefs Musk has other intentions. I
Speaker 1: believe this is really ultimately must getting cold feet with
Speaker 1: the deal, looking for a scapegoat. It's really turned into
Speaker 1: what I said it was the Twilight Zone situation. He's
Speaker 1: trying to ballot the deal, billion dollar breakup or drive
Speaker 1: a much significantly lower priced Twitter's back into the wall.
Speaker 1: Dan I's of what Bush Securities made the comments earlier
Speaker 1: on Bloomberg Daybreak, Twitter relief used to statement saying it's
Speaker 1: committed to completing the transaction when the agreed price in terms.
Speaker 1: Live in New York, I'm really need a Young Bloomberg
Speaker 1: day break, all right, we need to thank you. Shares
Speaker 1: of Twitter right now, they are down about three percent
Speaker 1: in early treating the US futures are on the rise,
Speaker 1: bonds are falling after yesterday's late sell off. Nancy Davy,
Speaker 1: founder of Quadratic Capital Management, says the market is still
Speaker 1: too optimistic about the ensibility to tame inflation. So much
Speaker 1: of the inflationary shock is not necessarily a result of
Speaker 1: the level of interest rates. It's other reasons that are
Speaker 1: pandemic related. So it's a really challenging time to try
Speaker 1: to thread the needle, and I think that's why we're
Speaker 1: encouraging investors just to be very diversified. Nancy Davis of
Speaker 1: Quadratic Capital Management says if inflation doesn't come down with
Speaker 1: higher rates, she worries about stagflation. Well, John, stagflation so
Speaker 1: also on the mind of investors, as according to Bank
Speaker 1: of America's latest Fund Managers survey, it shows stagflation fears
Speaker 1: are high since two thousand eight. We're also going to
Speaker 1: hear from the fence. Today, six Central Bank officials will speak,
Speaker 1: including Chair J Powell. He'll be interviewed during a live
Speaker 1: Wall Street Journal event this afternoon. And we'll also get
Speaker 1: more of a sense of consumer sentiment today when the
Speaker 1: government issues data on retail sales and will also get
Speaker 1: earnings from Walmart. Futures this morning are currently higher with
Speaker 1: this S and P futures up seventy points, Staff futures
Speaker 1: up four d eighty six, and NASDAK futures up two
Speaker 1: hundred sixty six. And that's the five things you need
Speaker 1: to know to start your day. Brought to you by
Speaker 1: Interactive Brokers. Thanks Karen, six thirty three on Wall Street
Speaker 1: and time to bring in Michael barn to tell us
Speaker 1: what else is going on in New York and around
Speaker 1: the world. John, thank you very much, serve. President Biden
Speaker 1: travels to Buffalo today he will try to heal a
Speaker 1: community following Saturday's mass shooting. Authority people were killed inside
Speaker 1: a tops supermarket by an eighteen year old white supremacist.
Speaker 1: Buffalo Mayor Byron Brown says he plans to talk to
Speaker 1: the President about gun laws. The availability of guns is
Speaker 1: just far too great in this country. Guns too often
Speaker 1: fall in the wrong hands, illegally and illegally. Something has
Speaker 1: to be done about that. At the federal level, it
Speaker 1: finally has to be the resolve to change that. Mayor
Speaker 1: Brown told a VC the shooting shakes your sense of security.
Speaker 1: In New York, a vigil for the Buffalo victims was
Speaker 1: held at a Harlem church last night. New York Mayor
Speaker 1: Eric Adams spoke at Bethel Gospel Assembly and criticize social media.
Speaker 1: What happened and Buffalo is no different than the sickness
Speaker 1: of social media that has music telling our young people
Speaker 1: to go after each other and shoot each other. Along
Speaker 1: with Eric Adams, New York Attorney General Leticia James was
Speaker 1: also in attendance. New York City health officials issued an
Speaker 1: advisory urging New Yorkers to mask up indoors as the
Speaker 1: city approaches high risk COVID nineteen alert status. Health Commissionaire
Speaker 1: Ashman Vassan said everyone should wear face coverings at all
Speaker 1: times and settings such as grocery stores, offices, and building lobbies.
Speaker 1: Five states hold primary elections today ahead of the November midterms.
Speaker 1: In Pennsylvania, both parties hoped to pick up an open
Speaker 1: Senate seat in the Republican primary. TV star Dr memon
Speaker 1: Oz is endorsed by former President Trump. However, conservative commentator
Speaker 1: Kathy Barnett surging in the polls. As for the Democrats,
Speaker 1: Bloomberg Government Elections reporter Greg Darrow was asked about Lieutenant
Speaker 1: Governor John Futterman's announcement that he had a stroke last week.
Speaker 1: It's big news to occur in the winning days of
Speaker 1: the campaign, but I think Tutterman's lead in the polls
Speaker 1: over his Democratic opponents, led by Representative Connor Lamb, was
Speaker 1: probably substantial enough for he's probably gonna win the primary anyway,
Speaker 1: Bloomberg's Great Jarrow. Other states holding primaries are Idaho, Kentucky,
Speaker 1: North Carolina, and Oregon. To veteran House Democrats from New
Speaker 1: York City would be forced into a primary face off.
Speaker 1: Repres sent a New Manhattan based district under a draft
Speaker 1: of a redrawn congressional map for the state. Representatives, Carolyn
Speaker 1: muloney and Gerald Nadler said on Twitter that they would
Speaker 1: run for the twelfth district seat. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty seven hundred journalists and analysts. More
Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg, John, Michael,
Speaker 1: thank you, and it's now six thirties six, so well
Speaker 1: three time for the Boomberg Sports update. Here's John Stanchell.
Speaker 1: All right, John, another night, another Yankee victory, this one
Speaker 1: in Baltimore, start of the four game series. Yanks the
Speaker 1: oriol six to two. The big hit not from Aaron Judge,
Speaker 1: you got the night off, rather from light hitting catcher
Speaker 1: Jose Trevino three run homer hit down the line of
Speaker 1: right field. Josh Donaldson and Anthony Rizzo with back to
Speaker 1: back homers in the night. Luis Saveno allowed only one hit.
Speaker 1: It was not a great night for Joey Gallow, Baltimore's
Speaker 1: first batter. Gallow dropped the fly ball went for a
Speaker 1: three base air and he also went over five with
Speaker 1: four strikeouts. But the Yanks still win, and they've now
Speaker 1: taken nineteen in the last twenty two. Mets and Cardinals
Speaker 1: reigned out doubleheader today's City Field. The Islanders just fired
Speaker 1: coach Barry Trots. They are replacing him with his top
Speaker 1: assistant Lane Lambert. It's a good day, um, something that
Speaker 1: you know I have been preparing for for a long
Speaker 1: time um throughout many years in the game and many
Speaker 1: years as a coach. UM And uh so, there's there's
Speaker 1: a level of excitement for sure. We've worked under Trucks
Speaker 1: for eleven years at three different places, filled in for
Speaker 1: him for several games this past season. As for the Rangers,
Speaker 1: off to Raleigh her game one with the Hurricanes tomorrow night.
Speaker 1: The two teams that two years ago in the Bubble
Speaker 1: Caro Wanna swept a Best of Thought qualifying round series.
Speaker 1: Year ago, Phil Minicholson won the p g H Championship
Speaker 1: at age fifty. He's not playing this year's PGA It
Speaker 1: begins Thursday and Tulsa Michoelson criticized for comments made about
Speaker 1: joining a new Saudi Back tour. Eighty two year old
Speaker 1: Jack Nicholas says he was offered the job of running
Speaker 1: that tour and was offered off hundred million dollars and
Speaker 1: Nicholas turned it down due to his loyalty to the
Speaker 1: p g A and the job ended up going to
Speaker 1: Greg normand John Slomberg Sports John John, Thanks very much.
Speaker 1: Six thirty seven on Wall Street, Time down and take
Speaker 1: a look at stocks. Some of the names that are
Speaker 1: moving in today's pre market, and for that we're joined
Speaker 1: by Bloomberg Radio on TV Markets corresponded Crittic Group to, Oh,
Speaker 1: there's absolutely nothing going on. Nothing. I don't know what
Speaker 1: you're boring unless Elon Musk. Apparently I'm getting whiplash. Yeah,
Speaker 1: it's I think you, and I think everyone else as well.
Speaker 1: Elon Musk declaring he won't proceed with his forty four
Speaker 1: billion dollar takeover of Twitter unless the social media giant
Speaker 1: can prove bots make up fewer than five percent of
Speaker 1: its users. Twitter shares down three Off the back of
Speaker 1: that news, t w t R is your taker, and
Speaker 1: I should also mention when you see Twitter shares drop,
Speaker 1: especially on deal relayed news, Tesla shares tend to rise
Speaker 1: or move in the opposite direction, So t s l
Speaker 1: A up three percent. Of this is interesting, John, because
Speaker 1: a lot of analysts on Wall Street are now increasing
Speaker 1: their odds of no deal. Dan i've's notably saying that
Speaker 1: he's now saying fifty chance that this deal does not
Speaker 1: go through. A lot of suspicions are here that the
Speaker 1: five percent of bots kind of rule, or the expectation
Speaker 1: of more there are more bots on Twitter is common
Speaker 1: knowledge and was already known before the deal, So perhaps
Speaker 1: this is being used as a mechanism to pull out.
Speaker 1: But who Dan was telling us earlier, He just never
Speaker 1: thought this was gonna happen. That Elon is just making
Speaker 1: excuses at this point. There's also a breakup fee, a
Speaker 1: significant break a one billion dollar breakup fee for sure.
Speaker 1: But is one billion dollars a lot for Elon Musk?
Speaker 1: I don't know. It's a lot for me, more than
Speaker 1: like the next three generations of group that kids are
Speaker 1: gonna be worth. But anyways, He's definitely keep an eye
Speaker 1: on the stock. This is important. We know the deal
Speaker 1: premium has been wider and wider because of this uncertainty
Speaker 1: of whether or not the deal would go through. Even
Speaker 1: if it does go through, does it recover to that
Speaker 1: former share price? That's the big question. M Let's get
Speaker 1: to some earnings, though, John, because I'm running out of
Speaker 1: time and my producer's gonna yell at me. Take two
Speaker 1: t t w O reported better than expected fourth quarter earnings,
Speaker 1: helped by popular video games like NBA two K twenty two.
Speaker 1: Analysting the company's games late and expected strong bookings in
Speaker 1: years to come. That's all good for the stock, but
Speaker 1: and a big butt here. Take two did issue a
Speaker 1: tepid forecast for the coming yere. I didn't like that,
Speaker 1: you know what I mean? Oh my gosh, Um, we're
Speaker 1: grown ups, John, I I think you are. I'm a
Speaker 1: grown up. It's okay. Um, we should as talk about
Speaker 1: Home Depot h D is your taker up four percent?
Speaker 1: They boosted their outlook surprise increase in forced quarter revenue
Speaker 1: continued strong demand for home improvement supplies despite higher mortgage trades.
Speaker 1: Remember we all are also expecting Walmart at seven am.
Speaker 1: Home Depot h D up four percent, Walmart w MT
Speaker 1: of nine tenths of one percent. I'm doing my part
Speaker 1: at Walmart two. I have yet to find a straight
Speaker 1: two by for not Walmart but Home Depot. So anyway, Kritty,
Speaker 1: thank you very much. We appreciate it. Thank you for
Speaker 1: putting up with me. Bloomberg Radio and Television Markets corresponded
Speaker 1: Kritty Gupta looking at stocks as a whole right now,
Speaker 1: we have SMP futures ahead of the cash up about
Speaker 1: wall spreet up sixties seven points, DAL futures of four
Speaker 1: hundred and seventy two points, and the Bloomberg weather from
Speaker 1: Meteorolo just wrong. Carolin sunny and breezy. The high temperature
Speaker 1: year seventy five, Tonight clear in breezy, flows in the
Speaker 1: mid fifties. Tomorrow's I look mostly sunny and breezy my
Speaker 1: seventy seventy five degrees. Markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business apt and at Bloomberg Quick Tape. This is a
Speaker 1: Bloomberg Business Flash and I'm Karen Moscow Futures on the
Speaker 1: rise this morning to the first word breaking news. Dask
Speaker 1: for today's morning call, and here's Bill Malone a belt,
Speaker 1: Good morning, and good morning, Karen. US features are surging
Speaker 1: right now. Dowt fugures up four dret and sixty four points,
Speaker 1: SUPs gain sixties seven, while Nasdaq features are up by
Speaker 1: two fifty the US ten year old at two point,
Speaker 1: gold is up for oil is climbing, and Bigcoin is
Speaker 1: higher by two percent. Hong Kong rose three point three
Speaker 1: percent overnight, while up of markets are also in the
Speaker 1: green this morning. Back in the US, on the economic front,
Speaker 1: at eight thirty, retail sales and at ten o'clock, the
Speaker 1: NHB Housing Market Index and Business inventories. After the bell
Speaker 1: Us night take two EPs beat estimates and regarding earnings.
Speaker 1: This morning, Home Depot raised its forecast at their surprise
Speaker 1: gain in revenue. The Indian News Elon must say that
Speaker 1: Twitter must prove bot claims for the deal to proceed.
Speaker 1: And another news Berkshire Hathaway took a stake in City
Speaker 1: Group shares, her up five and a half percent pre market,
Speaker 1: wrapping things up, and was raised overweight at Piper and
Speaker 1: shake check was raised over at Raymond James Live from
Speaker 1: the first to breaking News Descomb, Bill Maloney, Karen right, Bill,
Speaker 1: thank you, and here live breaking news over your Bloomberg
Speaker 1: type squawk on your terminal squ a w K, that's
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more
Speaker 1: on what's going on around the world. Michael Karen, thank
Speaker 1: you very much. Ukrainian troops who have been holding out
Speaker 1: for weeks at a steel plan in the port city
Speaker 1: of Mariupol have finally surrendered to Russian forces. Injured soldiers
Speaker 1: have been taken into Russian controlled territory in eastern Ukraine.
Speaker 1: Five states will hold primary elections today. Pennsylvania's trying to
Speaker 1: decide an open Senate seat ahead of the mid terms.
Speaker 1: Other states holding primaries are Idaho, Kentucky, North Carolina, and Oregon.
Speaker 1: In baseball, the Yankees beat the Orioles six to the
Speaker 1: Mets game reined out the Red Sox, and Giants won
Speaker 1: the Nationals and A's lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty hundred journalists and analyists more than
Speaker 1: a hundred twenty countries. Michael Barr and this is Bloomberg,
Speaker 1: Karen Ry, Michael, thank you well. At six nine on
Speaker 1: Wall Street, and we turned to news and science and
Speaker 1: technology now with the Bloomberg and j I. T. Stam Report.
Speaker 1: And here's so it's making news and science, technology, engineering
Speaker 1: in math. Shanghai is slowly emerging from a punishing lockdown
Speaker 1: that can find millions of people to their homes for weeks.
Speaker 1: The city reported a third consecutive day of no new
Speaker 1: COVID cases in the broader community. Authorities say that will
Speaker 1: allow them to unwind the restrictions that curtailed almost every
Speaker 1: aspect of daily life. Nest Lee, the owner of Gerber
Speaker 1: Baby food, said it's air freighting infant formula to the US,
Speaker 1: where a shortage had left shelves empty and parents scrambling.
Speaker 1: The shortage started with supply chain issues during the pandemic
Speaker 1: and was exacerbated by a recall stemming from September complaint
Speaker 1: when infant formula made by Avit Laboratories was first linked
Speaker 1: to a case of a rare bacterial infection. To known.
Speaker 1: The owner of the Happy Family and Happy Baby label
Speaker 1: said it's working to boost production, as is Nestlelye, and
Speaker 1: Microsoft is planning to nearly double its budget for employees.
Speaker 1: Salary increases as it seeks to retain staff and a
Speaker 1: hot labor market. The software It's pay high will mainly
Speaker 1: effect early to mid career employees, and CEO Satya Nadala
Speaker 1: says the company's talent is in high demand and as
Speaker 1: a Bloomberg and j I t Stem report, John, all right,
Speaker 1: thanks Karen. We were live from the Bloomberg interamt to
Speaker 1: Broker Studios where it is now six fifty one on
Speaker 1: Wall Street and time to check what's going on in
Speaker 1: d C. Some of the top stories in our nation's
Speaker 1: capital this morning. President Biden heading to Buffalo after the
Speaker 1: mass shootings there. The Senate nearing passage of the forty
Speaker 1: billion dollar aid package for Ukraine, President Biden seeks to
Speaker 1: quell the baby formula crisis with some logistics helps, the
Speaker 1: Biden team eases its Cuba stance, and the U set
Speaker 1: to extend the COVID nineteen public health emergency. Let's take
Speaker 1: a deeper dive into some of these stories this morning.
Speaker 1: We're joined by Bloomberg government reporter Emily Wilkins. Emily, as
Speaker 1: the President heads to Buffalo, that the things he can
Speaker 1: do offer sympathy, um, and they're also maybe more importantly
Speaker 1: than things he can't do. Yeah, I mean, John. The
Speaker 1: attitude in Washington has really now been for years that
Speaker 1: there's just not a lot that can be done in
Speaker 1: terms of legislation on guns. Even measures that are really
Speaker 1: supported by a wide swath of the American public, such
Speaker 1: as doing background checks before um weapons are are purchased
Speaker 1: and sort of making those uh more more stringent and
Speaker 1: more wide reaching, those aren't going to be able to pass.
Speaker 1: And we've seen those be stopped time and time again. Um.
Speaker 1: We do have a bill that is set to move
Speaker 1: today potentially on domestic terrorism, and that's obviously ties into
Speaker 1: the shooting because we know that the shooter targeted specifically
Speaker 1: black people. Eleven of the thirteen people who were shot
Speaker 1: were black. This is being investigated as a racially motivated crime.
Speaker 1: And so this legislation UH that would look in that
Speaker 1: would sort of authorize more offices in the federal government
Speaker 1: to really look into domestic terrorism. We go wind up
Speaker 1: seeing that come to the floor this week as a
Speaker 1: result of this shooting. Is this likely to be a
Speaker 1: significant issue for midterm elections to a certain extent, We
Speaker 1: aren't expecting that it's going to be. I mean, gun
Speaker 1: violence has been an issue in the US for decades now,
Speaker 1: and usually when you look at polls from individuals on
Speaker 1: what their top issue is, it never really cracks the
Speaker 1: top three. People care about the inflation, They're focused on
Speaker 1: gas prices, They're focused on the economy, and those are
Speaker 1: really the things that are going to be driving people
Speaker 1: to the polls of both in primaries as well as
Speaker 1: the November. The Senate aid package for Ukraine. How close
Speaker 1: are we We're close. We could be potentially seeing the
Speaker 1: passage of this package on Wednesday, if not Thursday. UH.
Speaker 1: The Senate took a procedural vote last night to continue
Speaker 1: to move it, and you saw a broad bipartisans support
Speaker 1: for that. And if no changes are made to this legislation,
Speaker 1: it'll go right to Biden's test and that will give
Speaker 1: him that for billion dollars to be able to spend
Speaker 1: for military aid, for humanitarian aid for refugees. And you
Speaker 1: really heard kind of from from all sides of of
Speaker 1: US government and even Ukrainian government just how critical this
Speaker 1: support from the US has been in kind of allowing
Speaker 1: Ukraine to continue to defend itself against Russia um and
Speaker 1: in some cases like Kharki, you know, really be able
Speaker 1: to push back against Russian invaders. Who if anybody has
Speaker 1: opposed this, well, you saw ryand Paul hold it up,
Speaker 1: and his main concern is that he wanted language to
Speaker 1: be included in the bill that would specific name someone
Speaker 1: to oversee that for you billion dollars and how it
Speaker 1: was spent um. The reason that leaders had to concern
Speaker 1: with that is that they wanted this bill to move
Speaker 1: a little faster. I don't think necessarily oversight is something
Speaker 1: that lawmakers are opposed to, but they're aware of the
Speaker 1: urgency and the speed with which this needs to happen.
Speaker 1: You also saw fifty seven Republicans vote against the measure
Speaker 1: in the House, and a lot of that was from
Speaker 1: lawmakers who cast themselves as physically conservative, who say that
Speaker 1: we need again more oversight and concerns just about how
Speaker 1: much the US debt deficit is growing given the funding
Speaker 1: that that we're sending to Ukraine. Overall, though, John, it
Speaker 1: is important to note though that that the vast majority
Speaker 1: of Americans do still support aiding Ukraine. Um, you are
Speaker 1: starting to see a little bit of pushback, but but
Speaker 1: on the whole, especially from Congression leaders on both sides,
Speaker 1: there is still a lot of really strong support for
Speaker 1: assisting and aiding Ukraine. The next story deals with moms
Speaker 1: and their babies, the President's seeks to quality baby formula crisis,
Speaker 1: the President taking ownership of this, Yeah, I mean Biden
Speaker 1: is sort of acknowledging that this is something that the
Speaker 1: administration needs to act on. This is a twofold problem.
Speaker 1: One of course, is because of supt chains. The other
Speaker 1: is because you did see a number of recalls from
Speaker 1: a major baby formula supplier, Abbott Industries, and you're seeing
Speaker 1: both Congress and the White House looking to this. We're
Speaker 1: expecting to see gislation introduced later today in the House
Speaker 1: that could either put that would both put some more
Speaker 1: funding towards this issue of baby formulas as well as
Speaker 1: relax some federal regulations around it. UM. We're also seeing
Speaker 1: abbot industries respond really working with their suppliers, trying to
Speaker 1: get additional formula, bringing some international formula that they have
Speaker 1: back over to the US UM. And so this has
Speaker 1: kind of been an all hands on deck situation for
Speaker 1: Democrats across government. Of course, it comes as Republicans have
Speaker 1: been criticizing Democrats saying that, you know, we're at this
Speaker 1: point where mothers are struggling to feed their children. That's
Speaker 1: certainly a very emotional UM talking point, and it kind
Speaker 1: of speaks to the larger economy, which Republicans do blame
Speaker 1: on a number of Biden administration policies. And finally, Emily
Speaker 1: about the middle of a reminder, the pandemic isn't over.
Speaker 1: The US is extending the public health emergency. It is
Speaker 1: extended until mid July. John and this, you know, it's
Speaker 1: interesting that this is being extended at a time where
Speaker 1: you are getting to the point where a lot of
Speaker 1: restrictions have been lifted. UM. You know, a lot of
Speaker 1: people are no longer wearing masks, including on public transportation.
Speaker 1: But what this does is basically allow a number of
Speaker 1: programs to continue operating in an expedited way when it
Speaker 1: comes to getting vaccines out there, when it comes to
Speaker 1: getting medications, when it comes to ensuring that Americans who
Speaker 1: might get COVID are able to be covered by healthcare.
Speaker 1: These are all components that are assisted by having this
Speaker 1: pandemic extended until until it is and we are expecting
Speaker 1: also to go past mid July. We've got Bloomberg reporting,
Speaker 1: uh saying that you know, they're that the government Biden
Speaker 1: administration is is planning to continue to extend this just
Speaker 1: to allow the aid and assistance as Americans still recover
Speaker 1: from COVID. And I mean we're seeing cases go up
Speaker 1: in New York, We're seeing them go up in d C.
Speaker 1: And there we're beginning to question us, particularly in New York,
Speaker 1: whether or not an indoor mask mandate might be coming back. Yeah. Absolutely,
Speaker 1: I am always a pleasure. Thanks a lot, Bloomberg government
Speaker 1: reporter Emily Wilkins, and you could read more about these
Speaker 1: stories on Bloomberg dot com or on the Bloomberg terminal
Speaker 1: and a reminder, you can follow all the latest on
Speaker 1: Bloomberg Radio in Washington Bloomberg ninety nine one one oh
Speaker 1: five point seven FM h D two. Ahead of the
Speaker 1: cash open on Wall Street, DALLA futures of four hundred
Speaker 1: sixty points, the doll, the smp E mini futures of
Speaker 1: sixty six. Right now, the DANZDACK futures are up two
Speaker 1: hundred forty six points. Tenure yield in the US up
Speaker 1: three basis points. Right now, we're at two. Twitter among
Speaker 1: the most actively traded in the pre market. Those years
Speaker 1: down two and three quarters percent. After Karen Moscow, I'm
Speaker 1: John Tucker. Stay with us. Bloomberg surveillance is straight ahead.