1 00:00:01,520 --> 00:00:04,800 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. Is is is Bloomberg 2 00:00:04,920 --> 00:00:09,320 Speaker 1: Daybreak for Monday, April eleventh coming up this hour. Ukraine 3 00:00:09,360 --> 00:00:12,719 Speaker 1: expects Russia to whiten it's offensive this week, and Annuel 4 00:00:12,800 --> 00:00:15,520 Speaker 1: mcrown is set to face his nationalist rival Marine La 5 00:00:15,600 --> 00:00:18,000 Speaker 1: Penn in the final round of the French election. A 6 00:00:18,120 --> 00:00:22,120 Speaker 1: surgeon Treasury yield sends ripples across global markets, and Twitter 7 00:00:22,200 --> 00:00:24,759 Speaker 1: shares line for Elon Musk turns down a spot on 8 00:00:24,800 --> 00:00:28,440 Speaker 1: the company's board. New York Mayor Eric Adams desks positive 9 00:00:28,480 --> 00:00:31,400 Speaker 1: for COVID plus. The Biden administration plans to announce new 10 00:00:31,520 --> 00:00:35,159 Speaker 1: rules today around ghost guns. I'm like La barn Or ahead, 11 00:00:35,400 --> 00:00:38,080 Speaker 1: I'm John Stash toward sports losses for the Yankees and 12 00:00:38,159 --> 00:00:41,000 Speaker 1: Matts wins with the Knicks and Nets, and Scottie Scheffler 13 00:00:41,080 --> 00:00:46,919 Speaker 1: won the Masters. That's alls trendy head on Bloomberg Daybreak 14 00:00:47,240 --> 00:00:51,560 Speaker 1: on Bloomberg eleven three on New York Bloomberg ninety nine one, Washington, 15 00:00:51,680 --> 00:00:55,280 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine 16 00:00:55,320 --> 00:00:59,960 Speaker 1: sixties and Francisco Sirius XAM one nineteen and around the world. 17 00:01:00,040 --> 00:01:03,360 Speaker 1: Then Bloomberg Radio dot Com and via the Bloomberg Business. 18 00:01:07,520 --> 00:01:10,600 Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow, and 19 00:01:10,680 --> 00:01:13,360 Speaker 1: futures are falling to start the week. We're coming up 20 00:01:13,360 --> 00:01:14,920 Speaker 1: to five oh one on Wall Street and we check 21 00:01:14,959 --> 00:01:18,000 Speaker 1: the markets every fifteen minutes throughout the trading day. On Bloomberg. 22 00:01:18,120 --> 00:01:20,880 Speaker 1: SNP futures down twenty five points this morning. Down Future 23 00:01:20,920 --> 00:01:24,840 Speaker 1: is down ninety six Nasdack futures down one four. Ten 24 00:01:24,920 --> 00:01:28,000 Speaker 1: year treasury down thirteen thirty seconds, yield two point seven 25 00:01:28,080 --> 00:01:30,759 Speaker 1: five percent, and the yield on the two year two 26 00:01:30,840 --> 00:01:34,319 Speaker 1: point five seven percent. Nieme X screwed oil is down 27 00:01:34,360 --> 00:01:37,800 Speaker 1: two point four percent and ninety eight cents and barrel. 28 00:01:37,880 --> 00:01:39,760 Speaker 1: Nathan well Karen will have more on the markets in 29 00:01:39,840 --> 00:01:42,160 Speaker 1: a minute, but first the latest on the war in Ukraine. 30 00:01:42,440 --> 00:01:45,840 Speaker 1: Austria's chancellor says he will meet with Russian President Vladimir 31 00:01:45,840 --> 00:01:49,800 Speaker 1: Putin in Moscow today as the fighting intensifies in Ukraine's East. 32 00:01:50,080 --> 00:01:53,040 Speaker 1: Ukraine says Russian missiles destroyed the airport in their fourth 33 00:01:53,080 --> 00:01:57,240 Speaker 1: largest city, Denepro. President Vladimir Zelinski says he expects Russia 34 00:01:57,280 --> 00:01:59,760 Speaker 1: to turn to even more large scale action this week. 35 00:02:00,080 --> 00:02:03,080 Speaker 1: In an interview on CBS is sixty minutes. Correspondent Scott 36 00:02:03,120 --> 00:02:06,200 Speaker 1: Pelly asked Zelenski what Ukraine needs from the US and 37 00:02:06,280 --> 00:02:12,160 Speaker 1: NATO weapons Number One, They need to be very serious 38 00:02:12,200 --> 00:02:16,760 Speaker 1: about it. They definitely understand what I'm talking about. Right now. 39 00:02:17,360 --> 00:02:20,680 Speaker 1: They have to supply weapons to Ukraine as if they 40 00:02:20,680 --> 00:02:25,160 Speaker 1: were defending themselves and their own people. Ukrainian President voladimir's 41 00:02:25,200 --> 00:02:27,600 Speaker 1: Lensky spoke on CBS IS sixty minutes, which can be 42 00:02:27,639 --> 00:02:32,480 Speaker 1: heard every Sunday on Bloomberg in Washington. Meanwhile, Nathan cries 43 00:02:32,480 --> 00:02:35,360 Speaker 1: are growing louder around the world for Russia to face 44 00:02:35,440 --> 00:02:38,400 Speaker 1: a war crimes tribunal. We get the story from Bloomberg's 45 00:02:38,400 --> 00:02:41,639 Speaker 1: head Baxter n s A director Jake Sullivan says, it's 46 00:02:41,639 --> 00:02:44,800 Speaker 1: gone beyond the pale. I think we can all say 47 00:02:44,840 --> 00:02:48,240 Speaker 1: that these are mass atrocities, These are war crimes. These 48 00:02:48,240 --> 00:02:52,320 Speaker 1: are shocking and brutal ax They are completely unacceptable, beyond 49 00:02:52,360 --> 00:02:55,480 Speaker 1: the pale for the international community. Sullivan on ABC has 50 00:02:55,520 --> 00:02:59,240 Speaker 1: heard here on Bloomberg, says they lead directly to Vladimir Poot. 51 00:02:59,320 --> 00:03:03,600 Speaker 1: Make no mistake, the larger issue of broad scale war 52 00:03:03,680 --> 00:03:06,760 Speaker 1: crimes and atrocities in Ukraine lies at the feet of 53 00:03:06,760 --> 00:03:10,640 Speaker 1: the Kremlin, this as Ukraine expects a major Russian invasion 54 00:03:10,680 --> 00:03:14,400 Speaker 1: of the East. In San Francisco, I'm at Baxter Bloomberg daybreak. Okay, 55 00:03:14,639 --> 00:03:17,280 Speaker 1: thank you. Turning to politics, a runoff election is coming 56 00:03:17,280 --> 00:03:20,799 Speaker 1: in the presidential race in France, President Emmanuel mccron will 57 00:03:20,800 --> 00:03:23,919 Speaker 1: square off with nationalist Marine Lepan after a tight first 58 00:03:24,000 --> 00:03:27,160 Speaker 1: round vote. We get more from Bloomberg's Francy Laqua in Paris. 59 00:03:27,480 --> 00:03:31,760 Speaker 1: It's a rerun of the contest. According to first projections, 60 00:03:31,800 --> 00:03:34,720 Speaker 1: mccoon got around twenty eight percent of the vote compared 61 00:03:34,760 --> 00:03:37,720 Speaker 1: with about twenty four percent for Lebin in the first round. 62 00:03:38,040 --> 00:03:41,000 Speaker 1: But mccon win is far from certain, as votes from 63 00:03:41,120 --> 00:03:44,560 Speaker 1: trailing candidates such as John Hickman Chen may go to Lepin. 64 00:03:44,920 --> 00:03:48,280 Speaker 1: While the presidents perceived arrogance turned off many voters and 65 00:03:48,320 --> 00:03:51,240 Speaker 1: helped Lupin to frame him as a president for the rich, 66 00:03:51,600 --> 00:03:54,920 Speaker 1: he's made France a favorite destination for foreign investors and 67 00:03:54,960 --> 00:03:59,000 Speaker 1: pushed employment to the highest on record. In Paris, I'm 68 00:03:59,000 --> 00:04:01,800 Speaker 1: Francine Laqua Bird day break. All right, Francy, and thank you. 69 00:04:01,920 --> 00:04:04,880 Speaker 1: Another major story we are following involves the U S economy, 70 00:04:04,960 --> 00:04:08,280 Speaker 1: the relentless rise of treasury yields continues to send waves 71 00:04:08,320 --> 00:04:12,120 Speaker 1: through global markets. Tenure Yells climbed through two point seven 72 00:04:12,200 --> 00:04:14,640 Speaker 1: five percent for the first time in more than three years. 73 00:04:14,640 --> 00:04:17,240 Speaker 1: His investors price in the impact of the federal reserves 74 00:04:17,240 --> 00:04:21,719 Speaker 1: tightening plan and accelerating inflation. Cleveland FED President Loretta Mester 75 00:04:21,880 --> 00:04:25,040 Speaker 1: is confident the US will avoid a recession. I think 76 00:04:25,080 --> 00:04:27,359 Speaker 1: that it will take some time to get inflation now because, 77 00:04:27,360 --> 00:04:29,120 Speaker 1: as you know, there's other things going on in the 78 00:04:29,120 --> 00:04:33,000 Speaker 1: economy that are adding to price pressures, including the commodity 79 00:04:33,040 --> 00:04:36,080 Speaker 1: praise and increases and energy price increases that are happening 80 00:04:36,680 --> 00:04:39,200 Speaker 1: um as well. So I think inflation will remain above 81 00:04:39,279 --> 00:04:41,880 Speaker 1: two percent this year and even next year, but the 82 00:04:41,920 --> 00:04:45,120 Speaker 1: trajectory will be that will be moving down. Cleveland FED 83 00:04:45,160 --> 00:04:48,080 Speaker 1: President Loretta Mester made the comments on CBS is Face 84 00:04:48,160 --> 00:04:50,960 Speaker 1: the Nation, which can be heard Sundays on Bloomberg Radio. 85 00:04:51,200 --> 00:04:54,039 Speaker 1: And a major stories developing on the equity front. Karen 86 00:04:54,120 --> 00:04:57,840 Speaker 1: It has shares of Twitter sliding five percent. Elon Musk 87 00:04:57,920 --> 00:05:00,279 Speaker 1: has decided he's not joining the board of this social 88 00:05:00,279 --> 00:05:02,880 Speaker 1: media company after all. Let's get the latest live from 89 00:05:02,920 --> 00:05:06,760 Speaker 1: Bloomberg's rned A Young quite a turnaround, quite a turnaround, Nathan. 90 00:05:06,800 --> 00:05:09,560 Speaker 1: It was just a week ago that Twitter soared more 91 00:05:09,560 --> 00:05:13,240 Speaker 1: than after Eyolon Musk took his nine point two percent 92 00:05:13,320 --> 00:05:16,159 Speaker 1: steak in the company. Twitter said shortly after that Musk 93 00:05:16,160 --> 00:05:18,719 Speaker 1: would join the board, and the billionaire has been vocal 94 00:05:18,760 --> 00:05:21,240 Speaker 1: about his changes that he'd like to see a Twitter 95 00:05:21,279 --> 00:05:24,720 Speaker 1: in the name of free speech. But Musk's abrupt reversal 96 00:05:24,800 --> 00:05:28,039 Speaker 1: in his decision to join the board ignites renewed speculation 97 00:05:28,080 --> 00:05:31,800 Speaker 1: about his intentions for Twitter as its largest individual shareholder, 98 00:05:32,040 --> 00:05:34,240 Speaker 1: and if he does not join the board, Musk would 99 00:05:34,279 --> 00:05:36,719 Speaker 1: not be subject to an agreement to keep his steak 100 00:05:36,960 --> 00:05:40,200 Speaker 1: at no more than fourteen point nine percent. Live in 101 00:05:40,240 --> 00:05:43,480 Speaker 1: New York, I'm Ranita Young, Bloomberg day Break. All right, Granita, 102 00:05:43,560 --> 00:05:45,760 Speaker 1: thank you all. Earnings will also be and focus this week, 103 00:05:45,800 --> 00:05:48,039 Speaker 1: with the big banks kicking off reporting season for the 104 00:05:48,040 --> 00:05:51,840 Speaker 1: first quarter. We get more from Bloomberg Shirley Pellad. Investors 105 00:05:51,880 --> 00:05:54,800 Speaker 1: will learn how Wall Street fair last quarter amid heightened 106 00:05:54,839 --> 00:05:58,200 Speaker 1: volatility stemming from the rush of Ukraine conflict and the 107 00:05:58,279 --> 00:06:01,599 Speaker 1: focus saw on the federal reserves lightning path. Tony Dwyer 108 00:06:01,720 --> 00:06:05,200 Speaker 1: is equity strategist at Cancord Genuity. It's gonna be a 109 00:06:05,240 --> 00:06:08,320 Speaker 1: positive earning season. The commentary is going to be sketchy. 110 00:06:08,360 --> 00:06:11,479 Speaker 1: It's going to create this volatility. JP Morgan Chase will 111 00:06:11,480 --> 00:06:13,719 Speaker 1: be first out of the gate with earnings on Wednesday. 112 00:06:13,800 --> 00:06:18,720 Speaker 1: Thursday gets very busy with reports from City Group, Wells Fargo, Goldman, Sacks, 113 00:06:18,760 --> 00:06:22,880 Speaker 1: Morgan Stanley, and p MC in New York. Charlie Pellett 114 00:06:22,920 --> 00:06:26,400 Speaker 1: Bloomberg Daybreak. Thanks Charlie. Turning to the pandemic now, COVID 115 00:06:26,520 --> 00:06:28,400 Speaker 1: is back on the rise, driven by the b A 116 00:06:28,480 --> 00:06:31,880 Speaker 1: two oh maicron subvariant. Infections are at their highest levels 117 00:06:31,880 --> 00:06:34,840 Speaker 1: in about a month. White House Chief Medical Advisory Doctor 118 00:06:34,839 --> 00:06:37,040 Speaker 1: Anthony Found. She says Americans will need to make their 119 00:06:37,080 --> 00:06:40,080 Speaker 1: own risk assessments going forward. There will be a level 120 00:06:40,120 --> 00:06:42,479 Speaker 1: of infection. This is not going to be eradicated and 121 00:06:42,520 --> 00:06:45,360 Speaker 1: it's not going to be eliminated. And what's gonna happen 122 00:06:45,480 --> 00:06:48,320 Speaker 1: is that we're going to see that each individual is 123 00:06:48,360 --> 00:06:50,880 Speaker 1: going to have to make their calculation of the amount 124 00:06:50,920 --> 00:06:53,880 Speaker 1: of risk that they want to take. Anthony Found. She 125 00:06:54,000 --> 00:06:56,480 Speaker 1: made the comments on a VCS this week, which can 126 00:06:56,520 --> 00:06:59,719 Speaker 1: be heard every Sunday right here on Bloomberg Radio. On 127 00:06:59,800 --> 00:07:02,400 Speaker 1: this Monday Morning, Futures are pointing to a lower open 128 00:07:02,440 --> 00:07:05,680 Speaker 1: with SMP futures now down twenty five points, nest DAK 129 00:07:05,760 --> 00:07:08,960 Speaker 1: futures down a hundred forty six down futures lower by 130 00:07:09,000 --> 00:07:12,200 Speaker 1: ninety four points. The tenure treasury is down thirteen thirty seconds, 131 00:07:12,200 --> 00:07:15,559 Speaker 1: with the yield close to two point seven. Straight ahead 132 00:07:15,560 --> 00:07:18,520 Speaker 1: your latest local headlines and a check of sports. This 133 00:07:18,760 --> 00:07:24,960 Speaker 1: is Bloomberg. It's south five oh seven on Wall Street. 134 00:07:24,960 --> 00:07:27,360 Speaker 1: Were forty one degrees in Central Park, starting off this 135 00:07:27,440 --> 00:07:30,440 Speaker 1: morning with a sinkhole to get past, and Franklin Township 136 00:07:30,480 --> 00:07:33,520 Speaker 1: will pitch you around that in traffic. Shortly. First, Michael 137 00:07:33,560 --> 00:07:35,080 Speaker 1: Bars here with what else is going on in New 138 00:07:35,160 --> 00:07:37,760 Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan. 139 00:07:37,800 --> 00:07:40,800 Speaker 1: New York City Mayor Eric Adams as tested positive for 140 00:07:40,880 --> 00:07:44,280 Speaker 1: COVID nineteen. A spokesperson for the mayor says that Adams 141 00:07:44,320 --> 00:07:47,440 Speaker 1: woke up with a raspy voice yesterday. Adams took a 142 00:07:47,560 --> 00:07:52,040 Speaker 1: PCR test that came back positive. Mayor Adams was one 143 00:07:52,080 --> 00:07:55,960 Speaker 1: of dozens of high profile politicians that tested positive after 144 00:07:56,040 --> 00:08:00,120 Speaker 1: attending an elite gala in Washington, d C. Organizers of 145 00:08:00,160 --> 00:08:04,200 Speaker 1: the grid Iron Dinner say that more than seventy cases 146 00:08:04,240 --> 00:08:06,880 Speaker 1: could have been linked to that event. Doctor Eric Ash 147 00:08:06,880 --> 00:08:10,240 Speaker 1: here where the Lenox Hill Hospital says the Mayor's infection 148 00:08:10,360 --> 00:08:13,920 Speaker 1: is a reminder that the virus does not discriminate. Anybody 149 00:08:14,040 --> 00:08:16,960 Speaker 1: is eligible to get COVID, and we just hope that 150 00:08:17,040 --> 00:08:20,000 Speaker 1: the more folks that are vaccinated and boosted will have 151 00:08:20,080 --> 00:08:23,680 Speaker 1: my older cases. Doctor Eric Asher Mayor Adams has no 152 00:08:23,760 --> 00:08:26,520 Speaker 1: other symptoms, but has canceled all public events for the 153 00:08:26,520 --> 00:08:30,560 Speaker 1: week and we'll be taking anti viral medications. The virus 154 00:08:30,720 --> 00:08:34,000 Speaker 1: is also affecting Broadway again, with some shows having to 155 00:08:34,040 --> 00:08:38,920 Speaker 1: cancel performances due to positive cases. The Marquee Stars a 156 00:08:39,040 --> 00:08:42,520 Speaker 1: Plaza Suite tested positive for COVID, making it the third 157 00:08:42,559 --> 00:08:46,800 Speaker 1: production to temporarily shut down because of new infections. People 158 00:08:46,800 --> 00:08:49,439 Speaker 1: in Times Square had a scary moment last evening and 159 00:08:49,520 --> 00:08:53,040 Speaker 1: started fleeing after a series of explosions. This first responder 160 00:08:53,160 --> 00:09:02,720 Speaker 1: on broadcastify officials. It turns out a cable failure caused 161 00:09:02,760 --> 00:09:05,560 Speaker 1: one man hole to erupt and a second man hole 162 00:09:05,760 --> 00:09:08,320 Speaker 1: was smoking. No one was hurt in there was no 163 00:09:08,440 --> 00:09:12,080 Speaker 1: property damage. Today, the Biden administration will announce changing for 164 00:09:12,120 --> 00:09:15,000 Speaker 1: the first time since the Gun Control locked of nineteen 165 00:09:15,160 --> 00:09:19,160 Speaker 1: sixty eight the definition of firearm. It comes as Senate 166 00:09:19,200 --> 00:09:22,920 Speaker 1: Majority Leader Chuck Schumer says the Biden administration must immediately 167 00:09:23,080 --> 00:09:26,160 Speaker 1: rein in ghost gun sales. The New York senators says 168 00:09:26,200 --> 00:09:30,160 Speaker 1: ghost gun kids must be treated as firearms. The preference 169 00:09:30,160 --> 00:09:32,800 Speaker 1: would be for Congress to pass a law, but we've 170 00:09:32,840 --> 00:09:36,200 Speaker 1: tried and it's been blocked by our Republican colleagues. So 171 00:09:36,240 --> 00:09:38,959 Speaker 1: we're now asking the administration to do this on its 172 00:09:38,960 --> 00:09:42,400 Speaker 1: own through regulation. Someone will challenge it in court, but 173 00:09:42,520 --> 00:09:45,280 Speaker 1: I think the law will stand. Schumer says. Sales of 174 00:09:45,280 --> 00:09:48,640 Speaker 1: ghost guns are rising around the country. Global News twenty 175 00:09:48,640 --> 00:09:51,560 Speaker 1: four hours a day on air and on Bloomberg Quick Take, 176 00:09:51,600 --> 00:09:55,079 Speaker 1: powered by more than twenty seven hundred journalist and analyst 177 00:09:55,200 --> 00:09:58,760 Speaker 1: more than a hundred twenty countries. Michael Barn This is Bloomberg. Nathan, 178 00:09:58,800 --> 00:10:05,559 Speaker 1: Thanks Michael. Almost five ten on Wall Street time for 179 00:10:05,559 --> 00:10:08,400 Speaker 1: the Bloomberg Sports Update and Morning John Shown, Good morning, Nathan. 180 00:10:08,480 --> 00:10:12,160 Speaker 1: Scotty Scheffler began the year having never won a PGA tournament. 181 00:10:12,240 --> 00:10:14,400 Speaker 1: For what a year he is having? For a three 182 00:10:14,440 --> 00:10:19,520 Speaker 1: shot with Schef behind it, puts it and it's it 183 00:10:20,679 --> 00:10:25,120 Speaker 1: and Scotty Scheffler hats one off the great starts to 184 00:10:25,280 --> 00:10:30,840 Speaker 1: a year in Gulf history with his first major championship, 185 00:10:31,640 --> 00:10:34,840 Speaker 1: but number one player in the world's won four times. 186 00:10:35,600 --> 00:10:40,880 Speaker 1: It's three months and he's won the two Masters tournament 187 00:10:40,880 --> 00:10:43,640 Speaker 1: at Master's Radio. Heard here on Bloomberg Radio. Rory mclroy 188 00:10:43,679 --> 00:10:46,200 Speaker 1: started the day ten shots behind. He ended up second 189 00:10:46,280 --> 00:10:48,960 Speaker 1: with a sixty four that tied the record for a 190 00:10:48,960 --> 00:10:51,840 Speaker 1: Master's final around. McIlroy finished his round by holding out 191 00:10:51,840 --> 00:10:54,360 Speaker 1: of the bunker for a birdie, and then his playing partner, 192 00:10:54,600 --> 00:10:57,600 Speaker 1: Colin Morrikala did the same thing. Yankees and Matt's going 193 00:10:57,640 --> 00:11:00,600 Speaker 1: for season opening sweeps, both lost. Yanks to leven on 194 00:11:00,640 --> 00:11:02,760 Speaker 1: base with Bobby doll back homer to the sixth inning 195 00:11:02,800 --> 00:11:04,880 Speaker 1: the Red stops one four to three. Amphorty Rizzo and 196 00:11:04,920 --> 00:11:07,880 Speaker 1: Giant Carlos Kanton drove in the Yankee runs. Together, they've 197 00:11:07,960 --> 00:11:10,840 Speaker 1: driven in ten of the yanks thirteen runs. Matts at 198 00:11:10,840 --> 00:11:13,400 Speaker 1: a two one lead eighth then in Washington scored three times, 199 00:11:13,400 --> 00:11:16,160 Speaker 1: one four to two, Nelson Cruise a first inning homer 200 00:11:16,200 --> 00:11:18,240 Speaker 1: and later at two one single. Nick's closed out the 201 00:11:18,280 --> 00:11:21,360 Speaker 1: season meeting Toronto at the Garden one oh five ninety 202 00:11:21,440 --> 00:11:24,480 Speaker 1: four and I opening weekend for the Knicks. Obi Topping, 203 00:11:24,520 --> 00:11:28,240 Speaker 1: always a fan favorite. Topping scored thirty five points on Friday, 204 00:11:28,320 --> 00:11:31,959 Speaker 1: had forty two points last night. Nanuel quickly added thirty four. 205 00:11:32,040 --> 00:11:35,080 Speaker 1: Nick finished the year thirty seven and forty five. That's 206 00:11:35,080 --> 00:11:37,640 Speaker 1: got thirty five from Kyrie Irving been Indiana one thirty four, 207 00:11:37,720 --> 00:11:39,840 Speaker 1: one twenty six. They went forty four and thirty eight. 208 00:11:39,880 --> 00:11:42,840 Speaker 1: They'll host Cleveland tomorrow if the Nets win. They advanced 209 00:11:42,840 --> 00:11:44,840 Speaker 1: to play Boston in the first round of the playoffs. 210 00:11:45,040 --> 00:11:47,920 Speaker 1: John stash Allard Bloomberg Sports, didn't you thanks shown SMP 211 00:11:48,080 --> 00:11:50,240 Speaker 1: future is lower by twenty five points right now toal 212 00:11:50,320 --> 00:11:53,160 Speaker 1: futures down ninety four dance Stack futures leading the declines 213 00:11:53,200 --> 00:11:56,000 Speaker 1: down a hundred seventy hundred forty four points. That's the 214 00:11:56,080 --> 00:11:59,200 Speaker 1: drop of one percent ten your treasury yield two point 215 00:11:59,320 --> 00:12:03,160 Speaker 1: seven four percent. Insights on the markets next with former 216 00:12:03,160 --> 00:12:08,679 Speaker 1: Gartment letter publisher Dennis Gartman and Bloomberg. Day Break is 217 00:12:08,679 --> 00:12:11,000 Speaker 1: brought to you by New Jersey Institute of Technology, ranked 218 00:12:11,000 --> 00:12:13,679 Speaker 1: the top fifty national public university by US News and 219 00:12:13,760 --> 00:12:15,920 Speaker 1: World Report, in top ten for best career placement among 220 00:12:16,000 --> 00:12:18,400 Speaker 1: public schools by The Princeton Review. More at n j 221 00:12:18,559 --> 00:12:23,840 Speaker 1: I T dot E d U markets headlines and breaking 222 00:12:23,840 --> 00:12:26,720 Speaker 1: news twenty four hours a day at Bloomberg dot com, 223 00:12:26,840 --> 00:12:30,400 Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's 224 00:12:30,400 --> 00:12:39,760 Speaker 1: a Bloomberg business lash and I'm caered. Moscow stocks and 225 00:12:39,840 --> 00:12:43,600 Speaker 1: bonds falling as political and economic ranks away on sentiment. 226 00:12:43,679 --> 00:12:46,040 Speaker 1: We checked the markets every fifteen minutes throughout the trading 227 00:12:46,120 --> 00:12:49,000 Speaker 1: day on Bloomberg s and P futures down route twenty 228 00:12:49,000 --> 00:12:52,439 Speaker 1: four points down, futures down eight ASDAG futures down on 229 00:12:53,679 --> 00:12:56,160 Speaker 1: the decks in Germany's down three quarters of a percent. 230 00:12:56,480 --> 00:12:59,000 Speaker 1: Ten year treasury down ten thirty seconds you two point 231 00:12:59,080 --> 00:13:01,240 Speaker 1: seven four percent. They yield on the two year two 232 00:13:01,280 --> 00:13:04,480 Speaker 1: point five six percent. Nimex crude oil is down two 233 00:13:04,520 --> 00:13:06,680 Speaker 1: and a half percent on two dollars forty eight cents 234 00:13:06,679 --> 00:13:10,120 Speaker 1: and nine seventy seven cents of barrel comic schools of 235 00:13:10,320 --> 00:13:13,040 Speaker 1: nine ten percent or sixteen dollars ninety cents in nineteen 236 00:13:13,120 --> 00:13:16,360 Speaker 1: sixty two. Twenty announced the euro one pot nine oh 237 00:13:16,360 --> 00:13:18,839 Speaker 1: eight against the dollar, British bound one point three zero 238 00:13:18,880 --> 00:13:21,880 Speaker 1: two six, the yen at one five point three nine, 239 00:13:21,920 --> 00:13:24,559 Speaker 1: and Bitcoin this morning down two and a half percent 240 00:13:24,920 --> 00:13:28,319 Speaker 1: at forty two thousand thirty dollars. And that's a Bloomberg 241 00:13:28,320 --> 00:13:30,960 Speaker 1: Business flash. Now here's Michael Barr with Moore on what's 242 00:13:31,000 --> 00:13:34,120 Speaker 1: going on around the world. Michael, good morning, Good morning, Karen. 243 00:13:34,120 --> 00:13:38,120 Speaker 1: Austria's chancellor said he'll meet Russian President of Vladimir Putin 244 00:13:38,120 --> 00:13:42,360 Speaker 1: in Moscow today. Meanwhile, Ukraine expects Russia widen it's offensive 245 00:13:42,360 --> 00:13:45,800 Speaker 1: in the East this week as the war continues. U 246 00:13:45,960 --> 00:13:49,240 Speaker 1: S Attorney in the Obama administration is being nominated by 247 00:13:49,320 --> 00:13:52,559 Speaker 1: President Joe Biden to run the Bureau of Alcohol, Tobacco, 248 00:13:52,679 --> 00:13:56,760 Speaker 1: Firearms and Explosives. That's according to several people familiar with 249 00:13:56,760 --> 00:13:59,880 Speaker 1: the matter who spoke to the Associated Press. Today is 250 00:13:59,880 --> 00:14:03,720 Speaker 1: anouncement of the nomination of Steve Develbach is expected as 251 00:14:03,760 --> 00:14:06,880 Speaker 1: the Biden administration and aveils its formal rule to rain 252 00:14:06,960 --> 00:14:10,400 Speaker 1: in ghost guns in golf. Scottie Scheffler has one of 253 00:14:10,400 --> 00:14:13,920 Speaker 1: the masters. On the final day of the regular NBA season, 254 00:14:14,000 --> 00:14:17,640 Speaker 1: the Nets nick Celtics and Warriors one. The Wizards lost 255 00:14:17,840 --> 00:14:20,360 Speaker 1: in the NHL, The Capitol's Meat, the Bruins four two 256 00:14:20,840 --> 00:14:23,680 Speaker 1: Global News twenty four hours a day on air and 257 00:14:23,880 --> 00:14:26,920 Speaker 1: on Bloomberg Quick take powered by more than twenty seven 258 00:14:27,280 --> 00:14:29,920 Speaker 1: journalists and analysts more than a hundred twenty countries. I'm 259 00:14:30,000 --> 00:14:32,960 Speaker 1: Michael Barr, and this is Bloomberg. Nathan Okay, Michael. Thanks, 260 00:14:33,040 --> 00:14:35,600 Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg 261 00:14:35,640 --> 00:14:39,680 Speaker 1: Interacted Broker Studios. This is Bloomberg Daybreak as we get 262 00:14:39,760 --> 00:14:43,200 Speaker 1: set for a short but busy trading week. We're joined 263 00:14:43,240 --> 00:14:45,880 Speaker 1: by Dennis Gartman, former publisher of the Gartman Letter, now 264 00:14:45,960 --> 00:14:49,680 Speaker 1: Chairman of the University of Akron Endowment Investment Committee. Dennis, 265 00:14:49,800 --> 00:14:52,600 Speaker 1: good morning. Seems like we're seeing some jitters in the market, 266 00:14:52,600 --> 00:14:55,960 Speaker 1: with futures pointing lower and the ten year the benchmark 267 00:14:56,400 --> 00:14:59,880 Speaker 1: flirting with the two point seven five percent handle. That's 268 00:15:00,040 --> 00:15:03,400 Speaker 1: the highest and more than three years. What kind of 269 00:15:03,440 --> 00:15:06,280 Speaker 1: ripple effect does that have on the market. Well, first 270 00:15:06,280 --> 00:15:08,520 Speaker 1: of all, we have the markets are under pressure and 271 00:15:08,520 --> 00:15:10,680 Speaker 1: are going to remain under pressure. I've embarrassed with stock 272 00:15:10,720 --> 00:15:14,160 Speaker 1: since January five, when the previous minutes of the f 273 00:15:14,400 --> 00:15:16,680 Speaker 1: MC meeting at the end of last year came out 274 00:15:16,720 --> 00:15:21,320 Speaker 1: indicating higher rates were certainly a likelihood. The fact that 275 00:15:21,360 --> 00:15:23,840 Speaker 1: the minutes last week were as barish as any i've seen. 276 00:15:24,320 --> 00:15:26,680 Speaker 1: Mr Bill Dudley, the former of Vice chairman of the 277 00:15:26,680 --> 00:15:31,360 Speaker 1: FED and former New York FED President, was kind of 278 00:15:31,520 --> 00:15:35,160 Speaker 1: was overtly bearish of of share prices, saying that the 279 00:15:35,160 --> 00:15:40,040 Speaker 1: FED has to become far more hawkish on monetary policy 280 00:15:40,120 --> 00:15:43,720 Speaker 1: and needs to, in his term, inflict pain on stock prices, 281 00:15:43,760 --> 00:15:46,680 Speaker 1: which was a stunning statement. He's even more embarrassed than 282 00:15:46,960 --> 00:15:50,440 Speaker 1: Mrs George and uh M Smester, the presidents of the 283 00:15:50,720 --> 00:15:53,960 Speaker 1: Cleveland and Kansas City Feds, even more embarrassed than Mr 284 00:15:53,960 --> 00:15:56,360 Speaker 1: Bullard has been. So it is really quite the extraordinary 285 00:15:56,360 --> 00:15:59,000 Speaker 1: to have that many members of the voting members of 286 00:15:59,040 --> 00:16:02,480 Speaker 1: the f MC come overly barrash of share prices. So 287 00:16:02,520 --> 00:16:04,880 Speaker 1: I think that the bounce that we've seen as run 288 00:16:04,880 --> 00:16:06,680 Speaker 1: its course. It was it was a nice bounce, It 289 00:16:06,760 --> 00:16:10,000 Speaker 1: was a pleasant bounce. It was a satisfactory bounce for many. 290 00:16:10,040 --> 00:16:11,640 Speaker 1: But it was a bouncing one the less, and that's 291 00:16:11,640 --> 00:16:13,840 Speaker 1: all it has been. And I think share prices are 292 00:16:13,840 --> 00:16:16,800 Speaker 1: headed rather demonstrably lower over the course the next several months. 293 00:16:17,040 --> 00:16:19,000 Speaker 1: What kind of levels are you looking at for the SMP. 294 00:16:20,800 --> 00:16:22,680 Speaker 1: The best I can say, I've been in this business 295 00:16:22,680 --> 00:16:24,920 Speaker 1: for almost forty five years and and trying to get 296 00:16:24,920 --> 00:16:26,640 Speaker 1: the direction right is the best that one can do, 297 00:16:26,680 --> 00:16:28,520 Speaker 1: and I think the direction is down. So let's just 298 00:16:28,520 --> 00:16:32,160 Speaker 1: simply say we'll go past the normal threshold for the 299 00:16:32,200 --> 00:16:35,680 Speaker 1: start of a bear market, which is I've always found 300 00:16:35,720 --> 00:16:37,760 Speaker 1: that laughable to me. Anything that lose more than seven 301 00:16:37,800 --> 00:16:41,560 Speaker 1: percent is consequent. So the fact that the I think 302 00:16:41,600 --> 00:16:45,520 Speaker 1: will be below down before this is done from the 303 00:16:45,600 --> 00:16:49,160 Speaker 1: highs made January five. So the market, I think is 304 00:16:49,200 --> 00:16:50,720 Speaker 1: the best that one can say, is the markets moving 305 00:16:50,760 --> 00:16:52,560 Speaker 1: from the upper left to the lower right, and that's 306 00:16:52,600 --> 00:16:54,640 Speaker 1: the That's the best that one is able to ascertain. 307 00:16:55,400 --> 00:16:58,160 Speaker 1: You mentioned Cleveland, said President Lauretta Master. We did fear 308 00:16:58,240 --> 00:17:00,960 Speaker 1: from her again yesterday on CBS. Has faced the nation 309 00:17:01,160 --> 00:17:04,359 Speaker 1: saying that she thinks that inflation could peak soon but 310 00:17:04,440 --> 00:17:08,240 Speaker 1: will remain elevated, perhaps into the end of next year. 311 00:17:08,640 --> 00:17:11,679 Speaker 1: At the same time, she says she's confident that the 312 00:17:11,800 --> 00:17:15,560 Speaker 1: US can avoid a recession. What's your view. I think 313 00:17:15,600 --> 00:17:17,679 Speaker 1: the US well, first of all, I think she's correct 314 00:17:17,680 --> 00:17:20,359 Speaker 1: on inflation. There's no question that inflationary problems are are 315 00:17:20,560 --> 00:17:24,240 Speaker 1: extent everywhere. Food prices are going higher, energy prices had 316 00:17:24,280 --> 00:17:26,480 Speaker 1: been higher. They're coming off of it at this point. 317 00:17:26,560 --> 00:17:30,480 Speaker 1: With the crude oil tumbling down below nine dollars a 318 00:17:30,520 --> 00:17:34,119 Speaker 1: barrel fort nearby near term w T w T I. 319 00:17:34,800 --> 00:17:37,360 Speaker 1: But the livestock prices are higher, Cotton prices are higher, 320 00:17:37,359 --> 00:17:40,280 Speaker 1: sugar prices are higher, Commodity prices generally are are higher, 321 00:17:40,640 --> 00:17:43,560 Speaker 1: and they're not going to to weekend anytime soon. I 322 00:17:43,920 --> 00:17:46,119 Speaker 1: think wage rates are are headed higher from they're going 323 00:17:46,160 --> 00:17:47,600 Speaker 1: to go from the lower left of the upper right. 324 00:17:47,640 --> 00:17:50,240 Speaker 1: So she's right about inflation. I think she's wrong about 325 00:17:50,280 --> 00:17:52,320 Speaker 1: the recession. I think the fact that we've had the 326 00:17:52,920 --> 00:17:55,320 Speaker 1: Yeld curve inverting in the in the middle of the curve, 327 00:17:55,720 --> 00:17:57,479 Speaker 1: and the inversion, I think it's going to become more 328 00:17:57,480 --> 00:17:59,440 Speaker 1: pronounced over the course of next several months, which is 329 00:17:59,480 --> 00:18:02,320 Speaker 1: always that always indicative of the recession. So I think 330 00:18:02,320 --> 00:18:05,359 Speaker 1: the semester probably is wrong about the recessionary call, but 331 00:18:05,400 --> 00:18:07,760 Speaker 1: she's right about the inflationary call. When do you think 332 00:18:07,760 --> 00:18:09,880 Speaker 1: we get a recession? Do you think it happens this year? 333 00:18:10,840 --> 00:18:12,879 Speaker 1: I think it happens this year. We won't market. The 334 00:18:13,040 --> 00:18:15,479 Speaker 1: National Bureau Economic Research, the n d e R as 335 00:18:15,560 --> 00:18:19,080 Speaker 1: the is the official data of when we go to 336 00:18:19,359 --> 00:18:21,479 Speaker 1: go into recession, when we come out, and they're always 337 00:18:21,520 --> 00:18:24,359 Speaker 1: laid on both sides. I think they won't say that 338 00:18:24,400 --> 00:18:27,760 Speaker 1: we've been in a recession until sometime early in three, 339 00:18:27,840 --> 00:18:30,280 Speaker 1: but they'll market is the end of two. So I 340 00:18:30,280 --> 00:18:32,680 Speaker 1: think sometimes in the third quarter the numbers will start 341 00:18:32,720 --> 00:18:36,399 Speaker 1: to be manifestly bearish and manifestly recessionary. But will we 342 00:18:36,480 --> 00:18:40,560 Speaker 1: market as a recession until probably sometime in the n 343 00:18:40,600 --> 00:18:42,760 Speaker 1: b R will be very slow to do. So. I'm 344 00:18:42,800 --> 00:18:45,560 Speaker 1: curious whether you think we'll see any inflationary impact on 345 00:18:45,640 --> 00:18:48,720 Speaker 1: the earnings as we start to get into the really 346 00:18:48,760 --> 00:18:51,159 Speaker 1: the kickoff of earning season this week, we've only got 347 00:18:51,200 --> 00:18:53,840 Speaker 1: about a minute left. Well, that's a good question, and 348 00:18:53,880 --> 00:18:56,400 Speaker 1: I wish I was capable of answering that. I'll leave 349 00:18:56,400 --> 00:18:58,360 Speaker 1: it to wiser heads than I am. When it comes 350 00:18:58,400 --> 00:19:03,120 Speaker 1: to announcing and forecasts to earnings for individual companies, all 351 00:19:03,160 --> 00:19:04,960 Speaker 1: I can say is the economy seems to be slowing 352 00:19:05,000 --> 00:19:06,760 Speaker 1: down or shall be slowing down, and not do this 353 00:19:06,920 --> 00:19:09,840 Speaker 1: in future. Uh. And the recession is on the is 354 00:19:09,880 --> 00:19:12,879 Speaker 1: on the horizon, so that that should be delictorious to 355 00:19:13,000 --> 00:19:15,760 Speaker 1: earnings six months into the future. But for the next 356 00:19:15,800 --> 00:19:18,480 Speaker 1: two or three months, the earnings numbers were probably quite good, 357 00:19:19,080 --> 00:19:21,159 Speaker 1: all right, Dennis, as always good to have you on 358 00:19:21,200 --> 00:19:23,720 Speaker 1: with us? Dennis Gartman, former publisher of the Gartment Letter, 359 00:19:23,760 --> 00:19:27,720 Speaker 1: now the chairman of the University of Akron Endowment Investment Committee. 360 00:19:27,880 --> 00:19:30,119 Speaker 1: As we look ahead to the market open, it is 361 00:19:30,359 --> 00:19:34,119 Speaker 1: pointing two losses on this Monday morning. SMP futures are 362 00:19:34,119 --> 00:19:36,480 Speaker 1: down twenty two points right now. Down Future is down 363 00:19:36,480 --> 00:19:39,959 Speaker 1: eighty NASDAC Future is down a hundred thirty six and 364 00:19:40,040 --> 00:19:42,800 Speaker 1: the tenure Treasury is down ten thirty seconds now with 365 00:19:42,840 --> 00:19:45,800 Speaker 1: a yield of two point seven three percent yield on 366 00:19:45,840 --> 00:19:48,720 Speaker 1: the two year two point five five nime X crewed 367 00:19:48,720 --> 00:19:51,280 Speaker 1: down two point six percent right now down to fifty 368 00:19:51,320 --> 00:19:55,399 Speaker 1: three dollars seventy three cents of barrel. Just ahead, Ukraine 369 00:19:55,400 --> 00:19:58,040 Speaker 1: braces for a tougher fight to the east, and Elon 370 00:19:58,119 --> 00:20:01,520 Speaker 1: Musk's on again, off again with Twitter. So check your 371 00:20:01,560 --> 00:20:08,200 Speaker 1: top stories of the morning on Bloomberg Daybreak Bloomberg eleven 372 00:20:08,240 --> 00:20:10,479 Speaker 1: three oh weather. Sunshine today with a high near sixty. 373 00:20:10,760 --> 00:20:13,359 Speaker 1: Morning showers tomorrow will claire out during the afternoon tomorrow 374 00:20:13,359 --> 00:20:16,119 Speaker 1: with a high in the low seventies, upper sixties, partly 375 00:20:16,160 --> 00:20:22,840 Speaker 1: sunny by Wednesday. Right now one in Central Park broadcasting 376 00:20:22,880 --> 00:20:26,600 Speaker 1: live from the Bloomberg Interactive Broker Studio in New York, 377 00:20:26,720 --> 00:20:30,560 Speaker 1: Bloomberg E Living Freedom to Washington, d C, Bloomberg, On 378 00:20:30,840 --> 00:20:34,040 Speaker 1: to Boston, Bloomberg, what a six, one to San Francisco, 379 00:20:34,119 --> 00:20:37,800 Speaker 1: Bloomberg sixty to the country, Sirius XM Chad one nine, 380 00:20:38,200 --> 00:20:41,359 Speaker 1: and around the globe the Bloomberg Business app and Bloomberg 381 00:20:41,440 --> 00:20:50,720 Speaker 1: Radio dot Com. This is Bloomberg Daybreak. It's five thirty 382 00:20:50,760 --> 00:20:53,280 Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm 383 00:20:53,359 --> 00:20:56,280 Speaker 1: Karen Moscow. We are just about four hours away from 384 00:20:56,280 --> 00:20:58,119 Speaker 1: the open of US trading. Let's get you up to 385 00:20:58,200 --> 00:20:59,920 Speaker 1: date of the news you need to know at this show. 386 00:21:00,320 --> 00:21:03,760 Speaker 1: Ukraine says Russian air strikes destroy the airport in Ukraine's 387 00:21:03,800 --> 00:21:07,439 Speaker 1: fourth largest city, to Nipro. As the war continues, a 388 00:21:07,440 --> 00:21:11,080 Speaker 1: new Russian military commander is drawing alarm among US officials. 389 00:21:11,280 --> 00:21:13,800 Speaker 1: As European officials meant to discuss the next phase of 390 00:21:13,840 --> 00:21:17,960 Speaker 1: the war. Austrian's chancellor is heading to Moscow today to 391 00:21:18,040 --> 00:21:21,760 Speaker 1: meet with Vladimir Putin, two days after visiting Kiev. The meantime, Karen, 392 00:21:21,840 --> 00:21:24,639 Speaker 1: Russia is expected to mount an offensive for control of 393 00:21:24,720 --> 00:21:28,600 Speaker 1: parts of eastern Ukraine. President Vladimir's Lensky tells CBS IS 394 00:21:28,640 --> 00:21:31,399 Speaker 1: Scott Kelly he has no plans to leave his nation. 395 00:21:31,720 --> 00:21:35,320 Speaker 1: I'm the president of our people, and even if I 396 00:21:35,400 --> 00:21:40,560 Speaker 1: wasn't president, I would have stayed here. My family understood, 397 00:21:40,840 --> 00:21:46,760 Speaker 1: not only understood, but fully supported my decision fully. Ukrainian 398 00:21:46,760 --> 00:21:49,879 Speaker 1: President Voladimir z Lensky spoke on CBS IS sixty minutes, 399 00:21:49,880 --> 00:21:54,080 Speaker 1: which can be heard every Sunday on Bloomberg in Washington. Well, 400 00:21:54,200 --> 00:21:57,280 Speaker 1: Nathan to the markets. Now are shares or Twitter are sliding? There? 401 00:21:57,280 --> 00:21:59,840 Speaker 1: Down more than four percent as Elon Musk is not 402 00:22:00,200 --> 00:22:02,960 Speaker 1: joining the board of the social media company. They get 403 00:22:02,960 --> 00:22:05,640 Speaker 1: the latest line from Bloomberg's rend A Young, Good morning Rena, 404 00:22:05,680 --> 00:22:08,080 Speaker 1: good morning Caring. It was just a week ago that 405 00:22:08,160 --> 00:22:11,400 Speaker 1: Twitter sword more than twenty seven percent after Elon Musk 406 00:22:11,440 --> 00:22:14,119 Speaker 1: took his nine point two percent steak in the company. 407 00:22:14,240 --> 00:22:16,840 Speaker 1: Twitter said shortly after that Musk would join the board, 408 00:22:17,119 --> 00:22:19,639 Speaker 1: and the billionaire has been vocal about changes he'd like 409 00:22:19,760 --> 00:22:21,920 Speaker 1: to see at Twitter in the name of free speech. 410 00:22:22,320 --> 00:22:25,720 Speaker 1: But Musk's abrupt reversal in his direct decision to join 411 00:22:25,760 --> 00:22:29,720 Speaker 1: the board ignites renewed speculation about his intentions for Twitter 412 00:22:29,920 --> 00:22:33,240 Speaker 1: as its largest shareholder individually and if he does not 413 00:22:33,400 --> 00:22:35,960 Speaker 1: join the board, Musk would not be subject to an 414 00:22:36,000 --> 00:22:38,360 Speaker 1: agreement to keep his stake at no more than fourteen 415 00:22:38,400 --> 00:22:41,560 Speaker 1: point nine percent. Live in New York, I'm Rernita Young 416 00:22:41,600 --> 00:22:44,840 Speaker 1: Bloomberg Daybreak. Okay, Nita, thanks the most. Stocks are falling 417 00:22:44,840 --> 00:22:47,359 Speaker 1: in early trading as a rise in US treasury yields 418 00:22:47,400 --> 00:22:50,520 Speaker 1: sends waves through global markets. Ten years climbed through two 419 00:22:50,560 --> 00:22:53,200 Speaker 1: and three quarters percent for the first time since March. 420 00:22:54,480 --> 00:22:58,040 Speaker 1: Nathan overseas for the presidential election and France, French President 421 00:22:58,080 --> 00:23:01,399 Speaker 1: Emmanuel mccron holds a slight lead over nationalist rival Marine 422 00:23:01,440 --> 00:23:04,760 Speaker 1: La Penn. Posters project mccrawn securing twenty eight percent of 423 00:23:04,760 --> 00:23:07,119 Speaker 1: the vote compared to twenty four for La Penn. The 424 00:23:07,160 --> 00:23:09,080 Speaker 1: second round of voting will take place in a couple 425 00:23:09,160 --> 00:23:12,520 Speaker 1: of weeks from Paris to Shanghai, where, despite lockdown's new 426 00:23:12,600 --> 00:23:15,959 Speaker 1: COVID cases reached an all time high. Yesterday, Shanghai reported 427 00:23:15,960 --> 00:23:18,520 Speaker 1: more than twenty six thousand new infections, most of which 428 00:23:18,520 --> 00:23:22,119 Speaker 1: were among people already under isolation, and futures are lower. 429 00:23:22,200 --> 00:23:25,520 Speaker 1: SNP futures down twenty one points down futures down seventy two, 430 00:23:25,600 --> 00:23:29,399 Speaker 1: nasday futures down one thirty four straight. I had your 431 00:23:29,480 --> 00:23:32,840 Speaker 1: latest local headlines plus a check of sports, and this 432 00:23:33,400 --> 00:23:40,879 Speaker 1: is Bloomberg. Thanks Tinge on Wall Street forty one degrees 433 00:23:40,920 --> 00:23:42,679 Speaker 1: in Central Park. We've got an accident on the New 434 00:23:42,720 --> 00:23:45,919 Speaker 1: England through Way North bounded exit seventeen in Westchester County. 435 00:23:46,160 --> 00:23:48,080 Speaker 1: Michael Barr has more on what's going on in New 436 00:23:48,160 --> 00:23:50,720 Speaker 1: York and around the world. Michael, thank you very much, Nathan. 437 00:23:50,720 --> 00:23:54,200 Speaker 1: New York City Mayor Eric Adams announced he has tested 438 00:23:54,200 --> 00:23:58,280 Speaker 1: positive for COVID and is now isolating. Dr Bruce Lee 439 00:23:58,320 --> 00:24:01,320 Speaker 1: with the City University of New York School of Public Health, 440 00:24:01,760 --> 00:24:05,760 Speaker 1: You essentially have this more contagious big dot to suffarient 441 00:24:05,840 --> 00:24:10,240 Speaker 1: that's circulating, and we're still amidst cooler and drier weather, 442 00:24:10,680 --> 00:24:13,720 Speaker 1: so that can promote transmission. So we really need to 443 00:24:13,800 --> 00:24:18,000 Speaker 1: be more proactive about COVID nighting precautions, Dr Lee, as 444 00:24:18,080 --> 00:24:21,200 Speaker 1: New York City is now averaging about eight new cases 445 00:24:21,240 --> 00:24:25,040 Speaker 1: per day. Last Saturday, Mayor Adams attended the annual grid 446 00:24:25,040 --> 00:24:29,200 Speaker 1: Ironed Dinner in Washington. Dozens who attended have since contracted COVID. 447 00:24:29,720 --> 00:24:32,960 Speaker 1: China's largest COVID outbreak in two years continues to spread 448 00:24:33,000 --> 00:24:37,640 Speaker 1: despite an extended lockdown of Shanghai's million people. They were 449 00:24:37,640 --> 00:24:41,040 Speaker 1: more than twenty six thousand new daily infections reported in 450 00:24:41,040 --> 00:24:44,040 Speaker 1: the Chinese financial hub and all time high. The Biden 451 00:24:44,040 --> 00:24:47,880 Speaker 1: administration plans to announce new rules today around ghost guns. 452 00:24:48,240 --> 00:24:52,840 Speaker 1: Sergeant Christian Camarillo is with the San Jose, California Police Department. 453 00:24:53,320 --> 00:24:56,080 Speaker 1: Ghost gun, or privately made firearm, is a firearm that 454 00:24:56,160 --> 00:24:59,240 Speaker 1: can be made at home with pre manufactured parts. You 455 00:24:59,280 --> 00:25:01,760 Speaker 1: can order these on the internet. That takes some very 456 00:25:01,800 --> 00:25:04,639 Speaker 1: simple machine and you put it together and it works 457 00:25:04,720 --> 00:25:09,720 Speaker 1: just like a regular firearms Sergeant Christian Camarillo. Senate Majority 458 00:25:09,800 --> 00:25:12,679 Speaker 1: Leader Chuck Schumer says sales of ghost guns are rising 459 00:25:12,680 --> 00:25:17,120 Speaker 1: around the country, clarifying under federal law that ghost gun 460 00:25:17,240 --> 00:25:21,159 Speaker 1: kits are firearms that would require a background check and 461 00:25:21,200 --> 00:25:25,160 Speaker 1: a serial number. Senator Schumer reference to teen shooting death 462 00:25:25,200 --> 00:25:28,560 Speaker 1: Friday outside of Bronx High School. Police say the seventeen 463 00:25:28,640 --> 00:25:32,399 Speaker 1: year old suspect may have used a ghost gun. There's word. 464 00:25:32,440 --> 00:25:35,159 Speaker 1: President Joe Biden is nominating an Obama era U S 465 00:25:35,200 --> 00:25:39,120 Speaker 1: attorney to run the Bureau of Alcohol, Tobacco, Firearms and Explosives. 466 00:25:39,440 --> 00:25:42,760 Speaker 1: According to the Associated Press, Biden is expected to make 467 00:25:42,800 --> 00:25:46,840 Speaker 1: the announcement today nominating Steve Dedlbuck Global News twenty four 468 00:25:46,880 --> 00:25:50,000 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 469 00:25:50,000 --> 00:25:52,639 Speaker 1: by more than twenty seven hundred journalist and analysts in 470 00:25:52,680 --> 00:25:55,879 Speaker 1: more than a hundred twenty countries. Michael Barren, this is Bloomberg. 471 00:25:55,960 --> 00:26:03,520 Speaker 1: Nathan Okay, Michael, Thanks on Wall Street time for the 472 00:26:03,520 --> 00:26:07,080 Speaker 1: Bloomberg Sports Update with John. Thanks Nathan. Big things were 473 00:26:07,160 --> 00:26:10,399 Speaker 1: expected from Scottie Cheffer. He grew up in Dallas, dominated 474 00:26:10,520 --> 00:26:14,200 Speaker 1: junior golf. Now Scheffler went to the Masters having won 475 00:26:14,240 --> 00:26:16,560 Speaker 1: three of his last five tournaments. He had already become 476 00:26:16,640 --> 00:26:19,600 Speaker 1: ranked number one at Augusta. He took the lead on Friday, 477 00:26:19,640 --> 00:26:22,399 Speaker 1: never gave it up. His lead early yesterday did shrink 478 00:26:22,440 --> 00:26:24,760 Speaker 1: to one shot, but then he chipped in for birdie 479 00:26:24,800 --> 00:26:27,679 Speaker 1: on the third hole and that lead was never again 480 00:26:27,840 --> 00:26:30,760 Speaker 1: less than three shots. It was definitely nice to build 481 00:26:30,800 --> 00:26:33,959 Speaker 1: up a lead and um not nothing safe out there 482 00:26:33,960 --> 00:26:35,520 Speaker 1: on the back nine on this golf course. You know, 483 00:26:35,600 --> 00:26:38,440 Speaker 1: I I've heard all the things that everybody says. It 484 00:26:38,520 --> 00:26:40,879 Speaker 1: doesn't start till the back Now on Sunday, anything can happen. 485 00:26:42,040 --> 00:26:44,280 Speaker 1: Don't hit in the water on twelve. You know, all 486 00:26:44,359 --> 00:26:49,080 Speaker 1: the stuff, and you know, I just blocked most of 487 00:26:49,080 --> 00:26:50,800 Speaker 1: that out and just tried to execute and take good 488 00:26:50,800 --> 00:26:52,960 Speaker 1: golf shot. Define had a double boat on eight team, 489 00:26:52,960 --> 00:26:55,919 Speaker 1: but he's still won by three overheart charging. Rory mcelroyo 490 00:26:56,000 --> 00:26:57,560 Speaker 1: was still never won the Masters, but he had a 491 00:26:57,560 --> 00:27:00,919 Speaker 1: brilliant final round sixty four. Tiger Woods had a second 492 00:27:00,920 --> 00:27:03,240 Speaker 1: straight seventy eight. He said he's unsure if he'll play 493 00:27:03,280 --> 00:27:05,680 Speaker 1: the PGH Championship for the US Open, but he does 494 00:27:05,760 --> 00:27:09,080 Speaker 1: plan to play the British Open because of his affinity 495 00:27:09,160 --> 00:27:12,040 Speaker 1: for playing at st Andrews. Yankees going for a sleep 496 00:27:12,040 --> 00:27:14,320 Speaker 1: of the Red Soft strand at eleven. Runners lost at 497 00:27:14,320 --> 00:27:16,880 Speaker 1: the stadium four to three. Mets going for a four 498 00:27:16,920 --> 00:27:19,040 Speaker 1: game sweep in Washington at a two one lead, when 499 00:27:19,040 --> 00:27:20,960 Speaker 1: the Gnats scored three times in the eighth inning, they 500 00:27:21,040 --> 00:27:24,040 Speaker 1: won four to two. Next finished the year thirty seven 501 00:27:24,040 --> 00:27:26,280 Speaker 1: and forty five. They beat Toronto at the Guarden. Nick 502 00:27:26,320 --> 00:27:28,760 Speaker 1: fans have called for more playing time for Obi. Toppin 503 00:27:29,200 --> 00:27:31,399 Speaker 1: got it this weekend and he had games of thirty 504 00:27:31,480 --> 00:27:34,879 Speaker 1: five and forty two points. Nets beat Indiana. Net's had 505 00:27:34,920 --> 00:27:37,439 Speaker 1: a play in game in Brooklyn tomorrow with Cleveland. The 506 00:27:37,440 --> 00:27:40,760 Speaker 1: winner then advances to play Boston. John stash Award Bloomberg 507 00:27:40,840 --> 00:27:43,280 Speaker 1: Sports Nathan, Thank you John, five thirty seven on Wall 508 00:27:43,320 --> 00:27:46,040 Speaker 1: Street Time for the Trice State Business Report with Bloomberg's 509 00:27:46,040 --> 00:27:48,760 Speaker 1: ad Cory. New York's theater industry has been betting on 510 00:27:48,800 --> 00:27:52,040 Speaker 1: a big spring, nearly doubling the number of shows being offered, 511 00:27:52,359 --> 00:27:55,159 Speaker 1: but The Times reports a number of COVID cases in 512 00:27:55,200 --> 00:27:58,280 Speaker 1: New York City, coinciding with the arrival of a new 513 00:27:58,320 --> 00:28:01,800 Speaker 1: sub variant is once a int rocked Broadway, infecting some 514 00:28:01,920 --> 00:28:07,160 Speaker 1: of its biggest stars, forcing four shows to temporarily cancel performances. 515 00:28:07,160 --> 00:28:10,440 Speaker 1: Healthcare workers in New Jersey's hospitals, nursing homes and other 516 00:28:10,520 --> 00:28:14,760 Speaker 1: facilities had until today to be vaccinated and boosted against 517 00:28:14,800 --> 00:28:19,640 Speaker 1: COVID nineteen or face disciplinary action that includes the possibility 518 00:28:19,680 --> 00:28:22,800 Speaker 1: of losing their jobs, and despite an initial uproar, n 519 00:28:22,880 --> 00:28:26,639 Speaker 1: J Spotlight reports, it seems most healthcare workers have complied. 520 00:28:27,240 --> 00:28:31,320 Speaker 1: Connecticut's tax free Weeks started on Sunday. It gives residents 521 00:28:31,320 --> 00:28:33,800 Speaker 1: a break from the six point three five percent sales 522 00:28:33,840 --> 00:28:37,600 Speaker 1: tax on retail items. The tax holiday eliminate sales tax 523 00:28:37,640 --> 00:28:40,640 Speaker 1: on clothing and footwear under a hundred bucks at your 524 00:28:40,680 --> 00:28:44,520 Speaker 1: Bloomberg Crime State Business Report. I'm Ed Corey. Thanks on 525 00:28:44,560 --> 00:28:46,840 Speaker 1: Wall Street. Bloomberg Radio is on the air from San 526 00:28:46,880 --> 00:28:49,760 Speaker 1: Francisco to New York, London to Hong Kong. Let's check 527 00:28:49,800 --> 00:28:51,720 Speaker 1: in with our global news team for some of the 528 00:28:51,720 --> 00:28:54,600 Speaker 1: top stories heard on our three hundred affiliate radio stations 529 00:28:54,600 --> 00:29:01,080 Speaker 1: around the world. I'm Steve Potas ten ten Wins in 530 00:29:01,120 --> 00:29:04,320 Speaker 1: New York. We're talking about Jet Blues plans to trim 531 00:29:04,320 --> 00:29:08,480 Speaker 1: its summer travels, sees, the schedule, duo staff shortages. I'm 532 00:29:08,560 --> 00:29:12,280 Speaker 1: Gina Servettian for w c CO in Minneapolis. I'm talking 533 00:29:12,280 --> 00:29:15,840 Speaker 1: about some of the locally based companies reporting earnings this week, 534 00:29:15,880 --> 00:29:19,040 Speaker 1: including United Health. I'm at Corey on w t A 535 00:29:19,160 --> 00:29:22,920 Speaker 1: M in Cleveland. I'm reporting developer Bobby George had big 536 00:29:22,960 --> 00:29:26,000 Speaker 1: plans for Old River Road in the Flats. And those 537 00:29:26,040 --> 00:29:29,200 Speaker 1: are some of the stories our hundred Bloomberg journalists and 538 00:29:29,200 --> 00:29:31,920 Speaker 1: analysts are working on this morning around the world. We're 539 00:29:31,920 --> 00:29:34,480 Speaker 1: coming up to five thirty nine on Wall Street. The 540 00:29:34,600 --> 00:29:39,320 Speaker 1: following is an editorial from Bloomberg Opinion. India has disappointed 541 00:29:39,360 --> 00:29:42,240 Speaker 1: many of its fellow democracies by not taking the stronger 542 00:29:42,320 --> 00:29:46,520 Speaker 1: stand against Russia's invasion of Ukraine. Some U S officials 543 00:29:46,520 --> 00:29:51,080 Speaker 1: have even let their frustrations spill out in public. Although understandable, 544 00:29:51,280 --> 00:29:55,240 Speaker 1: such criticisms are unproductive. The US and Sala should instead 545 00:29:55,280 --> 00:29:58,240 Speaker 1: concentrate on showing India that is the interests are better 546 00:29:58,280 --> 00:30:02,840 Speaker 1: served through partnership with the West, not Vladimir Putin. After all, 547 00:30:03,040 --> 00:30:06,760 Speaker 1: India's long standing ties with Russia can't be severed overnight, 548 00:30:07,120 --> 00:30:11,080 Speaker 1: nor can the US realistically expect India to abandon the 549 00:30:11,120 --> 00:30:17,000 Speaker 1: strategic autonomy its foreign policy elite has jealously guarded since independence. Instead, 550 00:30:17,360 --> 00:30:19,800 Speaker 1: the US and its partners must show India that they 551 00:30:19,800 --> 00:30:23,960 Speaker 1: can address its needs far better than Russia can through cooperation, 552 00:30:24,440 --> 00:30:28,320 Speaker 1: trade and development. In the end, trying to strong arm 553 00:30:28,360 --> 00:30:31,960 Speaker 1: India won't work. Persuading its leaders that the West is 554 00:30:32,000 --> 00:30:35,880 Speaker 1: a smarter long term bet will This editorial was written 555 00:30:35,920 --> 00:30:39,200 Speaker 1: by the Bloomberg Opinion Editorial Board. I'm David Shipley. For 556 00:30:39,320 --> 00:30:42,040 Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash 557 00:30:42,040 --> 00:30:45,720 Speaker 1: opinion or opia and go on the Bloomberg terminal. This 558 00:30:46,000 --> 00:30:50,240 Speaker 1: has been Bloomberg Opinion. Listen for Bloomberg Opinion editorials every weekday. 559 00:30:50,280 --> 00:30:53,400 Speaker 1: At this time of terminal Customers can read more at 560 00:30:53,440 --> 00:30:57,440 Speaker 1: O P I, n GO, SMP futures now down twenty points, 561 00:30:57,520 --> 00:31:00,520 Speaker 1: now features down sixty three. NAZAC future as are lower 562 00:31:00,520 --> 00:31:02,920 Speaker 1: by a hundred thirty three points. The ten year treasury 563 00:31:03,000 --> 00:31:06,280 Speaker 1: is down twelve thirty seconds. The yield two point seven 564 00:31:06,360 --> 00:31:09,040 Speaker 1: four percent. Yield on the two year two point five 565 00:31:09,280 --> 00:31:11,960 Speaker 1: seven straight ahead. The latest on the war in Ukraine 566 00:31:12,000 --> 00:31:15,719 Speaker 1: as Austria's chancellor prepares to meet with Russian President Pluton. 567 00:31:15,880 --> 00:31:19,240 Speaker 1: Rosalind Mathison Bloomberg Newses with US. Next to this is 568 00:31:19,280 --> 00:31:24,520 Speaker 1: Bloomberg Bloomberg eleven three oh Weather. Sunshine today with a 569 00:31:24,560 --> 00:31:27,040 Speaker 1: high near sixty. Tomorrow starts off with showers, but it'll 570 00:31:27,080 --> 00:31:29,720 Speaker 1: clear by tomorrow. Afternoon highs and below seventies. Will be 571 00:31:29,720 --> 00:31:32,920 Speaker 1: in the upper sixties partly sunny by Wednesday. Currently forty 572 00:31:32,960 --> 00:31:35,200 Speaker 1: one in Central Park