1 00:00:02,880 --> 00:00:06,160 Speaker 1: Live from the Bloomberg Interacted Burger Studios. This is Bloomberg 2 00:00:06,240 --> 00:00:10,080 Speaker 1: Daybreak for Friday, April twenty two. Coming up this hour, 3 00:00:10,320 --> 00:00:13,280 Speaker 1: the US sends another one point three billion dollars in 4 00:00:13,400 --> 00:00:16,439 Speaker 1: aid to Ukraine. Fetch here. J Powell rattles the markets, 5 00:00:16,480 --> 00:00:19,159 Speaker 1: hinting two half point rate heis may be needed. And 6 00:00:19,360 --> 00:00:22,759 Speaker 1: new developments this morning in Elon Musk's pursuit of Twitter 7 00:00:23,040 --> 00:00:24,960 Speaker 1: war on the arrest of a man and the murder 8 00:00:25,000 --> 00:00:28,240 Speaker 1: of a queen's woman. Plus Florida's legislature approves a measure 9 00:00:28,280 --> 00:00:32,600 Speaker 1: to take away disney self governance privileges. Michael Barr More ahead, 10 00:00:32,920 --> 00:00:34,880 Speaker 1: I'm down stage there. In sports, the Mets one of 11 00:00:34,920 --> 00:00:37,400 Speaker 1: the Yankees were shut out, the Rangers beat the Islanders 12 00:00:37,400 --> 00:00:42,720 Speaker 1: on the road. Teams one in the NBA playoffs. That's 13 00:00:42,720 --> 00:00:47,040 Speaker 1: all straight ahead on Bloomberg Daybreak on Bloomberg Eleventory on 14 00:00:47,159 --> 00:00:51,600 Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one or 15 00:00:51,640 --> 00:00:56,080 Speaker 1: six one, Boston, Bloomberg nine six, San Francisco, Sirius x 16 00:00:56,280 --> 00:00:59,320 Speaker 1: M one nine team and around the world on Bloomberg 17 00:00:59,360 --> 00:01:07,840 Speaker 1: Radio dot Com and via the Bloomberg Business add And 18 00:01:07,880 --> 00:01:10,800 Speaker 1: good morning. I'm far at Moscow. I'm Nathan Hagar. Bloomberg 19 00:01:10,880 --> 00:01:12,720 Speaker 1: Daybreak is brought to you by B and Y Melons. 20 00:01:12,720 --> 00:01:15,640 Speaker 1: Pershing learned why the world's most sophisticated wealth management and 21 00:01:15,720 --> 00:01:19,360 Speaker 1: institutional firms rely on Pershing to help them improve profitability, 22 00:01:19,440 --> 00:01:22,800 Speaker 1: create efficiency, attract talent, and manage risk at Pershing dot 23 00:01:22,840 --> 00:01:26,440 Speaker 1: Com and U Stock Index futures are lower this morning 24 00:01:26,560 --> 00:01:28,399 Speaker 1: six oh one on Wall Street. We check the markets 25 00:01:28,400 --> 00:01:31,160 Speaker 1: every fifteen minutes throughout the trading day on Bloomberg S 26 00:01:31,200 --> 00:01:35,039 Speaker 1: and P futures down sixteen boys down, futures down, WAE 27 00:01:35,400 --> 00:01:38,399 Speaker 1: NAS day futures down fifties seven, the decks in Germany's 28 00:01:38,440 --> 00:01:41,520 Speaker 1: down one point nine percent, and the tenure treasury down 29 00:01:41,520 --> 00:01:44,559 Speaker 1: eight thirty seconds held two point nine four percent. Nathan, 30 00:01:44,640 --> 00:01:46,280 Speaker 1: all right, Karen, we'll have more on the markets in 31 00:01:46,319 --> 00:01:48,600 Speaker 1: a minute. First, the latest on the war in Ukraine. 32 00:01:48,800 --> 00:01:51,840 Speaker 1: The US is sending another one point three billion dollars 33 00:01:51,840 --> 00:01:54,560 Speaker 1: in aid, eight hundred million of that will be weapons, 34 00:01:54,800 --> 00:01:58,280 Speaker 1: including so called ghost drones. We get the latest from Bloomberg, 35 00:01:58,320 --> 00:02:02,240 Speaker 1: said Baxter. Pentagon's spokesman John Kirby says ghosts will work 36 00:02:02,280 --> 00:02:06,840 Speaker 1: well in Ukraine. In discussions with the Ukrainians again about 37 00:02:06,880 --> 00:02:13,760 Speaker 1: their requirements. We believed that this particular system would very 38 00:02:13,840 --> 00:02:17,600 Speaker 1: nicely suit um their needs, particularly in eastern Ukraine. And 39 00:02:17,720 --> 00:02:21,120 Speaker 1: President Biden says the military help is very large. The 40 00:02:21,200 --> 00:02:25,000 Speaker 1: United States alone has provided ten anti armor systems for 41 00:02:25,120 --> 00:02:29,160 Speaker 1: every one Russian tank that's in Ukraine. Biden says help 42 00:02:29,320 --> 00:02:32,280 Speaker 1: is on the way. In San Francisco, I'm at Baxter 43 00:02:32,360 --> 00:02:34,480 Speaker 1: Bloomberg Daybreak, all right, and thank you by those so 44 00:02:34,600 --> 00:02:36,880 Speaker 1: called ghost drones could be enough to take out a 45 00:02:36,919 --> 00:02:40,239 Speaker 1: massive tank assault by Russia. That's according to retired Brigadier 46 00:02:40,320 --> 00:02:43,560 Speaker 1: General Mark Kimmet, but he says Ukraine still needs more. 47 00:02:44,080 --> 00:02:47,840 Speaker 1: We may be over selling the capabilities of the artillery 48 00:02:47,880 --> 00:02:50,839 Speaker 1: that we're sending in. That much artillery and that much 49 00:02:50,840 --> 00:02:53,720 Speaker 1: ammunition is great, but it's not a silver bullet and 50 00:02:53,760 --> 00:02:55,520 Speaker 1: it's not going to change the tide of the war. 51 00:02:55,840 --> 00:02:58,880 Speaker 1: And retired General Mark Kimmitt spoke to our Washington corresponded 52 00:02:58,960 --> 00:03:01,200 Speaker 1: Joe Matthew on bloom Burry Sound on if you can 53 00:03:01,240 --> 00:03:04,560 Speaker 1: catch the program weekdays at find pm Eastern on Bloomberg Radio. 54 00:03:04,800 --> 00:03:06,959 Speaker 1: And we also kind up with former Secretary of State 55 00:03:07,040 --> 00:03:09,680 Speaker 1: John Kerry. He said the US and its allies have 56 00:03:09,760 --> 00:03:14,440 Speaker 1: provided significant support. I think the reinforcement of efforts in 57 00:03:14,480 --> 00:03:17,639 Speaker 1: the Baltics. I think the movement by Finland and Sweden 58 00:03:17,680 --> 00:03:21,320 Speaker 1: to consider being a pardonato, etcetera. All of those are 59 00:03:21,400 --> 00:03:24,880 Speaker 1: very important measures, and hopefully we can do it in 60 00:03:24,919 --> 00:03:28,760 Speaker 1: a way that still gives President Putin an off rant. 61 00:03:28,960 --> 00:03:31,840 Speaker 1: And John Kerry, now Special Presidential Envoy for a Climate 62 00:03:31,960 --> 00:03:34,680 Speaker 1: spoke with Bloomberg Television from the m i T Climate 63 00:03:34,720 --> 00:03:38,280 Speaker 1: Grand Challenges event in Boston. Speaking of Climate Karen. Today 64 00:03:38,440 --> 00:03:40,960 Speaker 1: is Earth Day and President Biden is using it to 65 00:03:40,960 --> 00:03:44,920 Speaker 1: issue an executive order protecting old growth forests. Amy Morris 66 00:03:44,960 --> 00:03:48,280 Speaker 1: has details from our Bloomberg news room in Washington. The 67 00:03:48,320 --> 00:03:52,200 Speaker 1: federal government will inventory the old growth forests on federal lands, 68 00:03:52,240 --> 00:03:55,480 Speaker 1: analyze the threats, and create policies to reduce those risks. 69 00:03:55,760 --> 00:03:59,400 Speaker 1: Last year's infrastructure bill allocated eight billion dollars in forest 70 00:03:59,480 --> 00:04:02,640 Speaker 1: and land management funds, plus another five point seven billion 71 00:04:02,680 --> 00:04:06,080 Speaker 1: for wildfuyer management. This work will help them decide how 72 00:04:06,160 --> 00:04:08,880 Speaker 1: best to spend that money. It will also require the 73 00:04:08,920 --> 00:04:12,920 Speaker 1: government to increase seed collection and nursery capacity for replanting. 74 00:04:12,960 --> 00:04:16,760 Speaker 1: After a wildfire in Washington. I'm maybe more as Bloomberg Daybreak. 75 00:04:16,839 --> 00:04:19,040 Speaker 1: All right, Amy, thank you about turning to the economy. Now, 76 00:04:19,120 --> 00:04:21,960 Speaker 1: FED chair J. Powell is outlined his most aggressive approach 77 00:04:22,040 --> 00:04:25,119 Speaker 1: to taming inflation to date. He has potentially endorsed two 78 00:04:25,240 --> 00:04:28,560 Speaker 1: or more half percentage point interest rate increases. It is 79 00:04:28,600 --> 00:04:30,960 Speaker 1: appropriate in my view to be moving a little more quickly, 80 00:04:31,000 --> 00:04:33,120 Speaker 1: and I also I also think there's something in the 81 00:04:33,160 --> 00:04:37,160 Speaker 1: idea of front end loading whatever accommodation one thinks is appropriate. 82 00:04:37,200 --> 00:04:40,479 Speaker 1: So so that does point points in the direction of 83 00:04:40,480 --> 00:04:43,359 Speaker 1: of fifty basis points being on the table. Certainly, we 84 00:04:43,440 --> 00:04:45,279 Speaker 1: make these decisions at the meeting and will make a 85 00:04:45,320 --> 00:04:47,400 Speaker 1: meeting by meeting, but I would say that fifty basis 86 00:04:47,400 --> 00:04:49,200 Speaker 1: points will be on the table for the main meeting, 87 00:04:49,440 --> 00:04:51,640 Speaker 1: and J. Powell and the FED make their interest rate 88 00:04:51,680 --> 00:04:54,200 Speaker 1: decision on May fourth. Well, that hawk is tone from 89 00:04:54,240 --> 00:04:57,960 Speaker 1: Chairman Powell. Karen sent ripples through markets of policy sensitive 90 00:04:57,960 --> 00:05:00,279 Speaker 1: two year yield climbed to its highest level since late 91 00:05:01,440 --> 00:05:04,520 Speaker 1: The NASAC wiped out an early two percent gain yesterday 92 00:05:04,560 --> 00:05:07,800 Speaker 1: to drop two percent. The SMP five hundred felt one 93 00:05:07,839 --> 00:05:11,279 Speaker 1: and a half percent. Amanda Gotti, chief investment officer PNC 94 00:05:11,400 --> 00:05:15,360 Speaker 1: Asset Management, says the FED is spooking investors. The one 95 00:05:15,440 --> 00:05:18,200 Speaker 1: thing that keeps me up at night more than anything 96 00:05:18,240 --> 00:05:22,239 Speaker 1: else is that the FED is fighting effectively the wrong battle. 97 00:05:22,680 --> 00:05:26,400 Speaker 1: That is, they end up tightening policy, whether in the 98 00:05:26,440 --> 00:05:30,360 Speaker 1: form of interest rate increases or q T way too 99 00:05:30,360 --> 00:05:34,239 Speaker 1: aggressively to the point where that's what flows growth meetings. 100 00:05:34,320 --> 00:05:37,880 Speaker 1: Le p NC Asset Management Chief Investment Officer Amanda Gotti 101 00:05:37,960 --> 00:05:40,799 Speaker 1: made the comments on Bloomberg Business Week. Catch the program 102 00:05:40,839 --> 00:05:43,680 Speaker 1: on Bloomberg Radio Week the afternoons from two to five pm, 103 00:05:43,720 --> 00:05:46,160 Speaker 1: All Street Time. Sorry Nathan, thank you. And the yen 104 00:05:46,520 --> 00:05:48,599 Speaker 1: is little change this morning. The move comes after the 105 00:05:48,600 --> 00:05:51,920 Speaker 1: Finance Minister of Japan said he discussed recent abrupt moves 106 00:05:51,920 --> 00:05:55,040 Speaker 1: in the currency, which Treasury Secretary Janet Yellen. He said 107 00:05:55,040 --> 00:05:58,159 Speaker 1: the two agreed to uphold existing foreign exchange rate agreements. 108 00:05:58,360 --> 00:06:00,799 Speaker 1: And I'll talk live later this morning on Janet Yellen 109 00:06:00,880 --> 00:06:03,119 Speaker 1: or with Janet Yellen rather, that's coming up at eleven 110 00:06:03,160 --> 00:06:05,839 Speaker 1: thirty am. Wall Straight Time on both Bloomberg Radio and 111 00:06:05,920 --> 00:06:09,160 Speaker 1: television turned into corporate news. Karen elon Musk's attempt to 112 00:06:09,160 --> 00:06:11,880 Speaker 1: buy Twitter has gotten a lot more real. Let's get 113 00:06:11,920 --> 00:06:15,000 Speaker 1: the details on that live from Bloomberg. Jranita Young. Good morning, Granita, 114 00:06:15,040 --> 00:06:17,920 Speaker 1: Good morning. Nathan Elon. Musk said last week that fifty 115 00:06:17,960 --> 00:06:20,159 Speaker 1: four dollars and twenty cents a share was his best 116 00:06:20,160 --> 00:06:23,359 Speaker 1: and final offer to take Twitter private. Financing was not 117 00:06:23,440 --> 00:06:25,560 Speaker 1: spelled out then, and it was hard to tell whether 118 00:06:25,640 --> 00:06:29,080 Speaker 1: Musk would follow through with the offer until yesterday, when 119 00:06:29,160 --> 00:06:32,240 Speaker 1: Musk announced in a filing that he secured forty six 120 00:06:32,279 --> 00:06:35,680 Speaker 1: point five billion dollars in funding. About twenty six billion 121 00:06:35,720 --> 00:06:38,080 Speaker 1: of that would be debt financing for Morgan Stanley and 122 00:06:38,160 --> 00:06:41,760 Speaker 1: other investment banks, and Musk is contributing twenty one billion 123 00:06:41,800 --> 00:06:46,080 Speaker 1: of his own money through equity financing. Bloomberg calculations show 124 00:06:46,240 --> 00:06:49,760 Speaker 1: the financing Musk secured is about nine billion dollars more 125 00:06:49,800 --> 00:06:52,680 Speaker 1: than what he would need to acquire thee of Twitter 126 00:06:52,920 --> 00:06:55,599 Speaker 1: that he does not already own, and it signals that 127 00:06:55,680 --> 00:06:59,120 Speaker 1: he might go higher. Live in New York. I'm Ranita Young, 128 00:06:59,120 --> 00:07:02,080 Speaker 1: Bloomberg dayper Okay, Nita, Thanks, and France has issued an 129 00:07:02,080 --> 00:07:05,080 Speaker 1: international arrest warrant for the former head of Nissan and Renault, 130 00:07:05,080 --> 00:07:08,120 Speaker 1: Carlos Gone. Four others are also being sought for allegedly 131 00:07:08,120 --> 00:07:11,760 Speaker 1: helping Going siphon millions from Renault. Gonel lives in Lebanon 132 00:07:11,800 --> 00:07:15,000 Speaker 1: after a daring escape from Japan, where he faced charges 133 00:07:15,080 --> 00:07:23,240 Speaker 1: of financial wrongdoing. You're listening to Bloomberg Daybreak and it's 134 00:07:23,280 --> 00:07:25,280 Speaker 1: down six oh seven on Wall Street for in fifty 135 00:07:25,280 --> 00:07:28,080 Speaker 1: two degrees in Central Park. Still dealing with the accident 136 00:07:28,120 --> 00:07:31,440 Speaker 1: on the South under Jersey Turnpike near exit nine. Details 137 00:07:31,440 --> 00:07:33,480 Speaker 1: come up in traffic. First Michael bar with more on 138 00:07:33,560 --> 00:07:35,080 Speaker 1: what's going on in New York and around the world. 139 00:07:35,080 --> 00:07:37,720 Speaker 1: Come morning, Michael, Good Morning. Nathan. A man arrested in 140 00:07:37,760 --> 00:07:40,320 Speaker 1: the stabbing death of the Queen's mother, was reigned Late 141 00:07:40,400 --> 00:07:44,679 Speaker 1: last night. Rsilia Gal was found stuffed into a duffel 142 00:07:44,680 --> 00:07:47,120 Speaker 1: bag blocks from her home in Forest Hills after she 143 00:07:47,200 --> 00:07:50,240 Speaker 1: was snabbed almost sixty times. N Y p DS Chief 144 00:07:50,240 --> 00:07:54,400 Speaker 1: of Detective James Essex says the suspect, David Benola, and 145 00:07:54,480 --> 00:07:57,480 Speaker 1: the victim, had an intimate relationship for over a year 146 00:07:57,720 --> 00:08:00,320 Speaker 1: and had an argument at Gal's home centered a night. 147 00:08:00,760 --> 00:08:03,880 Speaker 1: A heated argument ensues between the two in the basement, 148 00:08:04,560 --> 00:08:09,120 Speaker 1: a knife is brandished, A violent struggle ensues, resulting in 149 00:08:09,200 --> 00:08:14,280 Speaker 1: all victim being stabbed. Chief Essex says Manola, described as 150 00:08:14,280 --> 00:08:18,120 Speaker 1: a handyman, faces charges of second degree murder, criminal tampering, 151 00:08:18,240 --> 00:08:21,000 Speaker 1: and possession of a weapon. A panel of New York 152 00:08:21,000 --> 00:08:25,440 Speaker 1: appellate judges rule that state Democrats engaged in gerrymandering in 153 00:08:25,560 --> 00:08:29,600 Speaker 1: drawing new congressional district boundaries for the next decade. If upheld, 154 00:08:29,760 --> 00:08:32,320 Speaker 1: ruling would block the use of those district lines for 155 00:08:32,360 --> 00:08:37,480 Speaker 1: the upcoming midterm elections in November. Florida's Republican controlled legislature 156 00:08:37,840 --> 00:08:41,000 Speaker 1: has clear to measure to strip Disney of itself governance 157 00:08:41,040 --> 00:08:44,359 Speaker 1: privileges in the state. The House approved the bility yesterday. 158 00:08:44,440 --> 00:08:48,040 Speaker 1: Disney criticized the law. Critics called that don't say gave measure. 159 00:08:48,440 --> 00:08:51,839 Speaker 1: The move could have huge tax implications for Disney and 160 00:08:51,920 --> 00:08:55,880 Speaker 1: the counties that would take over Disney's political space. Florida 161 00:08:55,960 --> 00:08:59,560 Speaker 1: Republican House Speaker Chris browns, I've long been a believer 162 00:08:59,679 --> 00:09:02,400 Speaker 1: on these special taxing districts, whether it's Disney or others, 163 00:09:02,800 --> 00:09:04,080 Speaker 1: that we need to look at them, that they are 164 00:09:04,120 --> 00:09:07,319 Speaker 1: a subterranean state of unaccountability, and we need to draw 165 00:09:07,360 --> 00:09:09,120 Speaker 1: attention to them. And that's what we did here this week. 166 00:09:09,720 --> 00:09:12,680 Speaker 1: Speaker Sprowl says it was passed by the Senate on 167 00:09:12,760 --> 00:09:15,880 Speaker 1: Wednesday and now goes to Governor de Santis for a signature. 168 00:09:16,320 --> 00:09:19,960 Speaker 1: House Republican leader Kevin McCarthy told other GOP lawmakers shortly 169 00:09:20,000 --> 00:09:23,839 Speaker 1: after the January Capital Ryant that he would urge then 170 00:09:23,880 --> 00:09:26,560 Speaker 1: President Donald Trump to resign. That's according to an audio 171 00:09:26,600 --> 00:09:29,640 Speaker 1: recording posted by The New York Times. The Times reports 172 00:09:29,679 --> 00:09:33,040 Speaker 1: that the audio is recording of a January tenth conversation 173 00:09:33,400 --> 00:09:36,439 Speaker 1: among House GOP leaders in which they discussed the Democratic 174 00:09:36,480 --> 00:09:41,360 Speaker 1: effort to remove Trump from office. Would have with him 175 00:09:41,600 --> 00:09:44,000 Speaker 1: is that I think this will pass, and it will 176 00:09:44,040 --> 00:09:47,080 Speaker 1: be by recommendation we should be done. Earlier yesterday, after 177 00:09:47,080 --> 00:09:50,760 Speaker 1: The Times published its initial story describing the conversation, McCarthy 178 00:09:50,800 --> 00:09:54,199 Speaker 1: released a statement calling it totally false and wrong. Global 179 00:09:54,240 --> 00:09:56,280 Speaker 1: News twenty four hours a day on air and on 180 00:09:56,320 --> 00:10:00,160 Speaker 1: Bloomberg Quicktake, powered by more than journalists and now lost 181 00:10:00,240 --> 00:10:02,280 Speaker 1: more than a d twenty countries. I'm Michael bar This 182 00:10:02,280 --> 00:10:09,400 Speaker 1: is Bloomberg. Nathan. Thanks Michael. Almost six ten on Wall 183 00:10:09,400 --> 00:10:11,719 Speaker 1: Street Time for the Bloomberg Sports Update with John ses 184 00:10:12,040 --> 00:10:14,719 Speaker 1: all right, Nathan. Miguel Cabrera three hits Wednesday night. I 185 00:10:14,760 --> 00:10:17,480 Speaker 1: got him to two thousand, nine hundred and ninety nine 186 00:10:17,480 --> 00:10:19,240 Speaker 1: for his career. So a fairly decent crowd on hand 187 00:10:19,240 --> 00:10:22,000 Speaker 1: for a Mattnee and Detroit chance to see Cabrera become 188 00:10:22,040 --> 00:10:24,920 Speaker 1: the thirty third member of the three fas at hit club. 189 00:10:24,920 --> 00:10:27,480 Speaker 1: He went over three against the Yankees. Jordan Montgomery had 190 00:10:27,480 --> 00:10:29,120 Speaker 1: one more chance came up in the eighth inning with 191 00:10:29,160 --> 00:10:32,480 Speaker 1: Detroit leading one and up being Aaron Brune walked Cabrera 192 00:10:32,600 --> 00:10:36,680 Speaker 1: intentionally that loaded the basis to pop up shallow left center. 193 00:10:36,720 --> 00:10:41,400 Speaker 1: Will it drop well? Two runs are in and Miguel 194 00:10:41,520 --> 00:10:45,360 Speaker 1: Cabrera will make it over the third. Austin Meadows drops 195 00:10:45,400 --> 00:10:48,599 Speaker 1: to pop up in the shadow left center to unscore 196 00:10:48,679 --> 00:10:51,240 Speaker 1: the Tigers. Sick of three nothing, leading Tigers one three nothing, 197 00:10:51,400 --> 00:10:53,400 Speaker 1: w x y t and Detroit had to call. Tiger 198 00:10:53,440 --> 00:10:56,360 Speaker 1: fans voice their displeasure with Boone's decision. But the Tigers 199 00:10:56,360 --> 00:10:59,160 Speaker 1: are home this weekend, so Cabrera should still be able 200 00:10:59,160 --> 00:11:01,600 Speaker 1: to reach the milestone at home. Yankees come home. Now 201 00:11:01,640 --> 00:11:03,960 Speaker 1: there's seven and six. They were shut out twice in 202 00:11:04,000 --> 00:11:06,080 Speaker 1: their last four games, matter ten and four. They played 203 00:11:06,120 --> 00:11:08,839 Speaker 1: fourth series they've won them all. Took three or four 204 00:11:08,920 --> 00:11:10,959 Speaker 1: from the Giant six to one at Citi Field. Strong 205 00:11:11,000 --> 00:11:14,720 Speaker 1: pitching from Carlos Carrasco. Home runs by Francisco Lindor and 206 00:11:14,880 --> 00:11:16,880 Speaker 1: edwardo Escobar at the u B S Arena. What a 207 00:11:16,920 --> 00:11:20,040 Speaker 1: first period for the Rangers. Andrew Coppa first period hat trick. 208 00:11:20,480 --> 00:11:22,760 Speaker 1: Rangers beat the Islanders six to three, So they didn't 209 00:11:22,760 --> 00:11:24,760 Speaker 1: get a fourth grade shutout, but they didn't get a 210 00:11:24,760 --> 00:11:26,640 Speaker 1: fourth grade win and they were made time for first 211 00:11:26,840 --> 00:11:30,600 Speaker 1: with Carolina. NBA Playoffs. Huge comeback by Memphis at Minnesota, 212 00:11:30,640 --> 00:11:33,560 Speaker 1: actually two of them, trailed by twenty six, got it 213 00:11:33,559 --> 00:11:37,440 Speaker 1: down to seven, went back behind by Grizzlies. Still want 214 00:11:37,400 --> 00:11:39,840 Speaker 1: to lead the series to one. Dallas one at Utah 215 00:11:39,920 --> 00:11:42,760 Speaker 1: for at two one series leading Golden State one at Denver, 216 00:11:42,840 --> 00:11:45,520 Speaker 1: and the Warriors are up three games. Tonight, John stash 217 00:11:45,520 --> 00:11:49,679 Speaker 1: Atward bloom Nathan Okay, John, thanks right now. SMP futures 218 00:11:49,679 --> 00:11:52,480 Speaker 1: are down almost sixteen point STOU futures down a hundred 219 00:11:52,520 --> 00:11:55,560 Speaker 1: twenty NASTACT futures are lower by fifty four points, so 220 00:11:55,600 --> 00:11:58,080 Speaker 1: adding to the losses this morning, the ten your treasuries 221 00:11:58,080 --> 00:12:01,680 Speaker 1: down seven thirty seconds right now, the yield two point nine. 222 00:12:02,240 --> 00:12:08,839 Speaker 1: You're listening to Bloomberg Taber Bloomberg eleven three oh weather 223 00:12:08,920 --> 00:12:11,480 Speaker 1: sunshine today with a hind your seventy degrees partly sunny, 224 00:12:11,520 --> 00:12:15,240 Speaker 1: low sixties tomorrow, and we'll be near seventy on Sunday 225 00:12:15,280 --> 00:12:16,880 Speaker 1: under a mix of sun and clouds. Right now, it's 226 00:12:16,880 --> 00:12:24,680 Speaker 1: fifty two degrees in Central Park. Markets, headlines and breaking 227 00:12:24,720 --> 00:12:27,600 Speaker 1: news twenty four hours a day at Bloomberg dot Com, 228 00:12:27,720 --> 00:12:31,280 Speaker 1: the Bloomberg Business Out, and at Bloomberg Quick Tape, He's 229 00:12:31,280 --> 00:12:40,560 Speaker 1: a Bloomberg business lash and I'm Karen Moscow. And US 230 00:12:40,600 --> 00:12:44,440 Speaker 1: treasuries are tumbling US dot Index futures extending losses as 231 00:12:44,480 --> 00:12:47,920 Speaker 1: investors way Federal Reserve chairs around Powell's willingness to embrace 232 00:12:47,960 --> 00:12:50,880 Speaker 1: bigger rate highs. Earlier in the tightening cycle, we checked 233 00:12:50,880 --> 00:12:54,280 Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberg. 234 00:12:54,360 --> 00:12:56,960 Speaker 1: Right now is in p Futures are down fifteen points down. 235 00:12:57,000 --> 00:13:00,439 Speaker 1: Futures down a hundred sixteen now's day, futures down fourty nine. 236 00:13:00,520 --> 00:13:03,160 Speaker 1: The Dacks in Germany is down one point nine percent ten. 237 00:13:03,240 --> 00:13:06,360 Speaker 1: Your treasury down six thirty seconds two point nine three percent. 238 00:13:06,440 --> 00:13:09,760 Speaker 1: They yield on the two year two point seven five percent. Nine. 239 00:13:09,760 --> 00:13:12,040 Speaker 1: Max Screwed oil is down one point nine percent at 240 00:13:12,040 --> 00:13:14,320 Speaker 1: a dollar ninety four and a hundred one dollars eighty 241 00:13:14,320 --> 00:13:16,760 Speaker 1: five cents of barrel comics. Gold is down a third 242 00:13:16,760 --> 00:13:19,200 Speaker 1: of a percent, or six dollars fifty cents at nineteen 243 00:13:19,280 --> 00:13:22,800 Speaker 1: forty one eight. Announce the Euro one point zero eight 244 00:13:22,920 --> 00:13:25,320 Speaker 1: zero two against the dollar British found one point to 245 00:13:25,440 --> 00:13:28,080 Speaker 1: eight seven two and the end is at one eight 246 00:13:28,160 --> 00:13:31,200 Speaker 1: point four eight and Bitcoin this morning lower down six 247 00:13:31,240 --> 00:13:34,920 Speaker 1: tenths percent at forty thousand, three hundred eighty dollars. And 248 00:13:34,920 --> 00:13:37,440 Speaker 1: as if Bloomberg Business Flash, Now here's Michael Barb with 249 00:13:37,520 --> 00:13:40,040 Speaker 1: more on what's going on around the world. Michael Karen, 250 00:13:40,040 --> 00:13:42,520 Speaker 1: thank you very much. New satellite images show would appear 251 00:13:42,520 --> 00:13:46,480 Speaker 1: to be mass graves near Maryuple in southern Ukraine. Local 252 00:13:46,480 --> 00:13:50,199 Speaker 1: officials are accusing Russia burying up to nine thousand civilians 253 00:13:50,240 --> 00:13:52,800 Speaker 1: there in an effort to con seal the slaughter taking 254 00:13:52,840 --> 00:13:55,960 Speaker 1: place in the siege of the ports city Philadelphia, health 255 00:13:56,000 --> 00:13:59,320 Speaker 1: officials say they're ending the city's indoor masked man date 256 00:13:59,360 --> 00:14:02,520 Speaker 1: abruptly withs and course, just days after people in the 257 00:14:02,559 --> 00:14:06,360 Speaker 1: city had to start wearing masks again. In the NBA Playoffs, 258 00:14:06,360 --> 00:14:08,800 Speaker 1: the Warriors beat the Nuggets one eighteen, one thirteen to 259 00:14:08,840 --> 00:14:11,720 Speaker 1: take a commanding three games the Zip lead in that series. 260 00:14:12,200 --> 00:14:16,559 Speaker 1: In MLB, the Yankees, Red Sox Nationals lost, The Mets 261 00:14:16,600 --> 00:14:19,080 Speaker 1: beat the Giant six to the A's beat the Oriole 262 00:14:19,160 --> 00:14:22,040 Speaker 1: six four. In the NHL, the Rangers beat the Islanders 263 00:14:22,240 --> 00:14:25,520 Speaker 1: six three, the Devil's and Bruins lost. Global News twenty 264 00:14:25,520 --> 00:14:28,520 Speaker 1: four hours a day on air and on Bloomberg Quick Tank, 265 00:14:28,560 --> 00:14:31,920 Speaker 1: powered by more than twenty seven hundred journalists analysts more 266 00:14:31,920 --> 00:14:34,680 Speaker 1: than a hundred twenty countries. I'm Michael Barr, and this 267 00:14:34,840 --> 00:14:37,720 Speaker 1: is Bloomberg Nathan by Michael. Thank you. It's six nineteen 268 00:14:37,760 --> 00:14:40,880 Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios. 269 00:14:40,920 --> 00:14:42,920 Speaker 1: This is Bloomberg day Break. We want to take a 270 00:14:42,960 --> 00:14:45,880 Speaker 1: minute now to focus on the pandemic because we have 271 00:14:46,040 --> 00:14:48,200 Speaker 1: seen a lot of movement this week when it comes 272 00:14:48,240 --> 00:14:52,239 Speaker 1: to mask mandates. The b A two sub variant continues 273 00:14:52,320 --> 00:14:55,400 Speaker 1: to drive case counts higher in much of this country, 274 00:14:55,400 --> 00:14:59,120 Speaker 1: and of course there's been a dramatic lockdown in Asia. 275 00:14:59,560 --> 00:15:02,640 Speaker 1: Andy Heckos is back with us this morning, professor of 276 00:15:02,640 --> 00:15:06,840 Speaker 1: molecular microbiology and Immunology at the Johns Hopkins Bloomberg School 277 00:15:06,840 --> 00:15:09,160 Speaker 1: of Public Health. Doctor, It's good to have you back 278 00:15:09,160 --> 00:15:11,080 Speaker 1: on with US, and I want to pick up on 279 00:15:11,560 --> 00:15:15,920 Speaker 1: the story that Michael just mentioned their Philadelphia reversing its 280 00:15:16,040 --> 00:15:18,560 Speaker 1: mask mandate after just a couple of days. And of 281 00:15:18,560 --> 00:15:22,520 Speaker 1: course we've seen the legal fight over the mandate on 282 00:15:22,680 --> 00:15:26,400 Speaker 1: public transit. I wonder what how it affects the fight 283 00:15:26,400 --> 00:15:30,920 Speaker 1: against the pandemic when you have sort of these shifting mandates, 284 00:15:30,960 --> 00:15:35,080 Speaker 1: shifting guidance on whether we even need to wear masks 285 00:15:35,080 --> 00:15:39,640 Speaker 1: at this point. Yeah, this is let's start with the 286 00:15:40,640 --> 00:15:44,240 Speaker 1: court ruling. I think it's very unfortunate that the court 287 00:15:44,280 --> 00:15:46,440 Speaker 1: would come in and try to sort of gut a 288 00:15:46,520 --> 00:15:49,600 Speaker 1: public health law which was really in place to give 289 00:15:50,160 --> 00:15:54,240 Speaker 1: powers to prevent infectious diseases. And it sounded like there 290 00:15:54,240 --> 00:15:56,960 Speaker 1: were some semantic works that were being used there to 291 00:15:57,080 --> 00:15:59,480 Speaker 1: really sort of make this major decision as to what 292 00:16:00,080 --> 00:16:02,640 Speaker 1: the government can do in terms of public health interventions. 293 00:16:03,080 --> 00:16:07,360 Speaker 1: Now that even that we are in a different place 294 00:16:07,400 --> 00:16:11,440 Speaker 1: in this pandemic, we're seeing some cases increase in parts 295 00:16:11,480 --> 00:16:14,640 Speaker 1: of the country, others not increasing. Overall, we're at a 296 00:16:14,760 --> 00:16:17,600 Speaker 1: very low place, so we are at the stage of 297 00:16:17,640 --> 00:16:22,120 Speaker 1: this response where we could consider lifting some public health interventions. 298 00:16:22,240 --> 00:16:25,840 Speaker 1: You know, the problem really becomes public health doesn't want 299 00:16:25,840 --> 00:16:29,320 Speaker 1: to remove interventions too early. They need to instill them 300 00:16:29,400 --> 00:16:31,840 Speaker 1: early though if there is a surge. And so we're 301 00:16:31,840 --> 00:16:35,640 Speaker 1: in this gray area now where different public health individuals 302 00:16:35,680 --> 00:16:40,119 Speaker 1: are making their calls based on local um UH conditions, 303 00:16:40,360 --> 00:16:44,600 Speaker 1: and sometimes those calls are not black and white. Are 304 00:16:44,640 --> 00:16:46,440 Speaker 1: we in a gray area when it comes to where 305 00:16:46,480 --> 00:16:50,120 Speaker 1: the pandemic could go at this point because it seems 306 00:16:50,280 --> 00:16:55,040 Speaker 1: like the case counsel they may be going up. Hospitalizations 307 00:16:55,200 --> 00:16:58,960 Speaker 1: are either holding steady or still falling at this point 308 00:16:59,840 --> 00:17:03,080 Speaker 1: is not going to continue to be the case absolutely, 309 00:17:03,120 --> 00:17:04,760 Speaker 1: and I think this is the most critical thing that 310 00:17:04,800 --> 00:17:06,600 Speaker 1: we want to keep keep an eye on for the 311 00:17:06,600 --> 00:17:09,199 Speaker 1: next couple of weeks. If we continue to stay in 312 00:17:09,200 --> 00:17:12,840 Speaker 1: this area where case numbers might be increasing at relatively 313 00:17:12,880 --> 00:17:16,200 Speaker 1: low rates, to hospitalization stay low, and I think we're 314 00:17:16,200 --> 00:17:18,640 Speaker 1: in a place where we can really sort of continue 315 00:17:18,680 --> 00:17:21,480 Speaker 1: to relax public health interventions and be able to deal 316 00:17:21,560 --> 00:17:26,280 Speaker 1: with the case numbers through perhaps increased vaccination and also 317 00:17:26,840 --> 00:17:29,199 Speaker 1: UH the use of anti virals for individuals we do 318 00:17:29,280 --> 00:17:32,879 Speaker 1: get sick. So this is a really critical time for monitoring. 319 00:17:32,920 --> 00:17:35,320 Speaker 1: It's hard to protect the future even two or three 320 00:17:35,359 --> 00:17:39,040 Speaker 1: weeks away. But things are looking good and and I'm 321 00:17:39,119 --> 00:17:41,280 Speaker 1: optimistic that we're at a stage where we might be 322 00:17:41,320 --> 00:17:43,840 Speaker 1: seeing a real change in how we deal with the pandemic. 323 00:17:44,720 --> 00:17:47,359 Speaker 1: Will we be able to continue with that kind of 324 00:17:47,480 --> 00:17:53,040 Speaker 1: stance if we don't get further COVID mitigation funding on 325 00:17:53,160 --> 00:17:56,960 Speaker 1: Capitol Hill. We're getting Congress coming back next week, and 326 00:17:57,000 --> 00:17:59,800 Speaker 1: I imagine there's going to be a pretty quick debate 327 00:18:00,160 --> 00:18:04,520 Speaker 1: on how to get those funds unlocked, How are they needed, 328 00:18:04,560 --> 00:18:07,320 Speaker 1: what will those funds do in terms of the fight. 329 00:18:08,720 --> 00:18:14,680 Speaker 1: This funding is absolutely critical to maintain our prepara preparedness 330 00:18:14,800 --> 00:18:18,760 Speaker 1: UH to deal with this pandemic. You know, it's funding testing, 331 00:18:19,160 --> 00:18:23,040 Speaker 1: it's funding anti virals, it's funding vaccines. These are the 332 00:18:23,040 --> 00:18:26,520 Speaker 1: things that we can't forget about, even if we are 333 00:18:26,600 --> 00:18:30,000 Speaker 1: going to relieve our public health interventions. To have the 334 00:18:30,080 --> 00:18:33,080 Speaker 1: testing capacity, we need to be able to give people 335 00:18:33,119 --> 00:18:37,040 Speaker 1: antivirals quickly, and we need to give people vaccines as needed, 336 00:18:37,359 --> 00:18:41,240 Speaker 1: as quickly as possible, and so we can relieve public 337 00:18:41,280 --> 00:18:44,600 Speaker 1: health interventions. But this funding is important for those sort 338 00:18:44,600 --> 00:18:47,960 Speaker 1: of baseline things that have to be done going forward, 339 00:18:47,960 --> 00:18:51,920 Speaker 1: so we can maintain our preparedness for a potential surge. 340 00:18:52,200 --> 00:18:55,200 Speaker 1: Although we hope that we won't be seeing more large surges. 341 00:18:55,840 --> 00:18:58,199 Speaker 1: Only about thirty seconds left here, doctor, how do you 342 00:18:58,240 --> 00:19:01,560 Speaker 1: see the pandemic at this point? Is covid endemic now? 343 00:19:01,720 --> 00:19:05,359 Speaker 1: Is it a seasonal virus? How do you look at it? Yeah, 344 00:19:05,400 --> 00:19:08,280 Speaker 1: we we we know it's going to be endemic. There's 345 00:19:08,359 --> 00:19:11,440 Speaker 1: no way we will get rid of uh COVID nineteen. 346 00:19:11,960 --> 00:19:15,480 Speaker 1: What we really are thinking about now is we don't 347 00:19:15,480 --> 00:19:18,800 Speaker 1: want people to think that it's a minor threat because 348 00:19:18,800 --> 00:19:22,159 Speaker 1: it's still causes some serious disease. We can deal with it. 349 00:19:22,240 --> 00:19:24,080 Speaker 1: We have the tools to deal with We just have 350 00:19:24,160 --> 00:19:27,480 Speaker 1: to use those tools efficiently now to maintain where we are. 351 00:19:28,400 --> 00:19:30,520 Speaker 1: Thank you, Dr good having you on back with us. 352 00:19:30,640 --> 00:19:35,200 Speaker 1: Dr Andy Peckosh, Professor of molecular microbiology and Immunology at 353 00:19:35,200 --> 00:19:38,199 Speaker 1: the Johns Hopkins Bloomberg School of Public Health, which is 354 00:19:38,200 --> 00:19:41,200 Speaker 1: supported by Michael Bloomberg. He's the founder and majority owner 355 00:19:41,280 --> 00:19:45,119 Speaker 1: of Bloomberg LP, the parent company of Bloomberg Radio. Right now, 356 00:19:45,240 --> 00:19:49,000 Speaker 1: SP futures down fifteen points, STAFF futures down one, NAZDAC 357 00:19:49,080 --> 00:19:52,320 Speaker 1: futures down forty nine points, the tenure treasury down six 358 00:19:52,359 --> 00:19:55,800 Speaker 1: thirty seconds, the yield two point nine three percent. The 359 00:19:55,880 --> 00:19:58,320 Speaker 1: yield on the two year. Right now just shy of 360 00:19:58,400 --> 00:20:08,000 Speaker 1: two point seven six. You're listening to Bloomberg Daybreak Bloomberg 361 00:20:08,000 --> 00:20:10,119 Speaker 1: eleven three oh weather sunshine with a high close to 362 00:20:10,160 --> 00:20:13,440 Speaker 1: seventy today, low sixties, partly sunny tomorrow, while have a 363 00:20:13,480 --> 00:20:15,480 Speaker 1: mix of sun and clouds in the high near seventy 364 00:20:15,640 --> 00:20:18,680 Speaker 1: on Sunday right now fifty three degrees in Central Park. 365 00:20:21,960 --> 00:20:26,520 Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York. 366 00:20:26,600 --> 00:20:31,280 Speaker 1: Bloomberg E Loving Freedom to Washington, d C, Bloomberg to Boston, 367 00:20:31,359 --> 00:20:34,760 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine 368 00:20:34,880 --> 00:20:37,920 Speaker 1: sixty to the Country, Sirius XM to the one nine ten, 369 00:20:38,080 --> 00:20:41,240 Speaker 1: and around the globe, the Bloomberg Business apt and Bloomberg 370 00:20:41,320 --> 00:20:50,320 Speaker 1: Radio dot Com. This is Bloomberg Daybreak and it's six 371 00:20:50,400 --> 00:20:52,960 Speaker 1: thirty on Wall Street. Good morning. I'm Nathan Hagar and 372 00:20:53,000 --> 00:20:55,960 Speaker 1: I'm Karen Moscow. We're just about three hours away from 373 00:20:56,000 --> 00:20:58,080 Speaker 1: the open of US trading. Time for the five things 374 00:20:58,160 --> 00:20:59,919 Speaker 1: you need to know to start your day, Brought to 375 00:21:00,080 --> 00:21:03,360 Speaker 1: you by Interactive Broker Simple I b k R Global 376 00:21:03,400 --> 00:21:06,679 Speaker 1: Trader app. Deposit in your local currency and trade stocks 377 00:21:06,680 --> 00:21:08,920 Speaker 1: in the US, Europe and Asia. Start to your free 378 00:21:08,960 --> 00:21:12,680 Speaker 1: trial at I p k R dot com slash Global Trader. 379 00:21:13,240 --> 00:21:16,240 Speaker 1: First President Biden announced the US will send another one 380 00:21:16,240 --> 00:21:19,720 Speaker 1: point three billion dollars in additional a to Ukraine. Retired 381 00:21:19,760 --> 00:21:23,280 Speaker 1: Brigadier General Mark Kimmitt tells Bloomberg's Joe Matthew that the 382 00:21:23,359 --> 00:21:26,680 Speaker 1: ghost of Jernes the US is sending should help Ukraine 383 00:21:26,720 --> 00:21:30,080 Speaker 1: fight Russia. If they do have the capability to send 384 00:21:30,080 --> 00:21:34,879 Speaker 1: out the suicide drones, with enough command of control keeping 385 00:21:34,880 --> 00:21:37,760 Speaker 1: an eye on all this area, those suicide drones could 386 00:21:37,760 --> 00:21:43,040 Speaker 1: probably stop a pretty massive tank assault, which is, as 387 00:21:43,080 --> 00:21:45,479 Speaker 1: I said, the biggest single reward about in that section. 388 00:21:45,800 --> 00:21:48,800 Speaker 1: And retired Brigadier General Mark Kimmitt speaking with our Washington 389 00:21:48,880 --> 00:21:52,680 Speaker 1: corresponded Joe Matthew on Bloomberg Sound on airing weekdays at 390 00:21:52,680 --> 00:21:55,920 Speaker 1: five pm Eastern on Bloomberg Radio. Turning to the economy, 391 00:21:56,000 --> 00:21:59,240 Speaker 1: Karen Fed Chair J Powell outlined the Federal reserves plan 392 00:21:59,400 --> 00:22:02,280 Speaker 1: for taming inflation. Our goal is to is to is 393 00:22:02,320 --> 00:22:04,520 Speaker 1: to get demand, use our tools to get demand and 394 00:22:04,560 --> 00:22:07,919 Speaker 1: supplied back in sync so that inflation moves down and 395 00:22:07,960 --> 00:22:10,920 Speaker 1: do so without a slowdown that amounts to a recession. 396 00:22:11,200 --> 00:22:14,119 Speaker 1: That's our goal. And I don't think you'll hear anyone 397 00:22:14,119 --> 00:22:16,200 Speaker 1: at the FED say that that's going to be straightforward 398 00:22:16,280 --> 00:22:19,040 Speaker 1: or easy. FED sher J. Palell says a half percentage 399 00:22:19,040 --> 00:22:21,119 Speaker 1: point hike is on the table at the f y 400 00:22:21,160 --> 00:22:24,040 Speaker 1: MC meeting in May, and to markets now now is 401 00:22:24,080 --> 00:22:27,240 Speaker 1: jack and SP futures are lower this morning. US treasuries 402 00:22:27,280 --> 00:22:29,600 Speaker 1: are tumbling and the dollar rose to its highest level 403 00:22:29,640 --> 00:22:33,320 Speaker 1: since July. Time. Bank of America says outflows from US 404 00:22:33,359 --> 00:22:36,480 Speaker 1: equity funds are just getting started with the FED tightening. 405 00:22:36,560 --> 00:22:40,159 Speaker 1: Strategist say in the week, grade investors pulled almost twenty 406 00:22:40,240 --> 00:22:44,080 Speaker 1: billion dollars from large caps, the largest exit since February. 407 00:22:44,800 --> 00:22:48,200 Speaker 1: We'll incorporate news Nathan Elon musk pursuit of Twitter continues. 408 00:22:48,320 --> 00:22:50,399 Speaker 1: We get the latest line from Bloomberg's Ready Too Young, 409 00:22:50,440 --> 00:22:52,640 Speaker 1: Good Morning Ready to Good Morning Care and Elon Musk 410 00:22:52,720 --> 00:22:55,280 Speaker 1: said last week that fifty four dollars and twenty cents 411 00:22:55,280 --> 00:22:57,560 Speaker 1: a share was his best and final offer to take 412 00:22:57,600 --> 00:23:00,880 Speaker 1: Twitter private. It was unclear if Musk would follow through 413 00:23:01,200 --> 00:23:04,639 Speaker 1: until yesterday, when he announced he secured forty six point 414 00:23:04,640 --> 00:23:08,119 Speaker 1: five billion dollars in funding. Almost twenty six billion of 415 00:23:08,160 --> 00:23:10,640 Speaker 1: that would be debt financing. For Morgan Stanley and other 416 00:23:10,680 --> 00:23:14,000 Speaker 1: investment banks, and Musk is contributing twenty one billion of 417 00:23:14,080 --> 00:23:18,320 Speaker 1: his own money through equity financing. Bloomberg calculations show the 418 00:23:18,359 --> 00:23:22,000 Speaker 1: financing Musk secured is about nine billion dollars more than 419 00:23:22,040 --> 00:23:24,960 Speaker 1: what he would need to acquire of Twitter he does 420 00:23:25,000 --> 00:23:27,760 Speaker 1: not already own. Live in New York. I'm Rnita Young 421 00:23:27,760 --> 00:23:30,400 Speaker 1: Bloomberg Daybreak A right, Brinita, thank you. That's the five 422 00:23:30,440 --> 00:23:32,560 Speaker 1: things you need to notice start your day. Brought to 423 00:23:32,600 --> 00:23:39,640 Speaker 1: you by Interactive Brokers. And it's now six thirty three 424 00:23:39,640 --> 00:23:42,199 Speaker 1: on Wall Street fifty three degrees in Central Park. Got 425 00:23:42,240 --> 00:23:44,879 Speaker 1: a new accident southbound Harlem River Drive at the Willis 426 00:23:44,880 --> 00:23:47,680 Speaker 1: Avenue Bridge. Details coming up in Traffic. First Michael Barr 427 00:23:47,760 --> 00:23:49,320 Speaker 1: with more on what's going on in New York and 428 00:23:49,359 --> 00:23:51,840 Speaker 1: around the world. Good morning, Michael, Good morning. Nathan, a 429 00:23:51,920 --> 00:23:54,879 Speaker 1: handyman who was arrested for killing a queen's wife and 430 00:23:54,920 --> 00:23:57,840 Speaker 1: mother of two, made a late night court appearance. If 431 00:23:57,880 --> 00:24:01,439 Speaker 1: it Banola is accused of stabbing or Sola Gal who's 432 00:24:01,600 --> 00:24:04,560 Speaker 1: stabbed body was found in a Duffel bag last Saturday. 433 00:24:04,920 --> 00:24:09,320 Speaker 1: In my p D Detective's Chief James mr Bonella is 434 00:24:09,359 --> 00:24:13,760 Speaker 1: a handyman who was employed by Mrs Gal. They have 435 00:24:13,840 --> 00:24:18,160 Speaker 1: been having an intimate affair for approximately two years. Chief 436 00:24:18,240 --> 00:24:21,200 Speaker 1: Essex says a heated argument ensued between the two and 437 00:24:21,240 --> 00:24:24,440 Speaker 1: the basement and Gali stabbed more than fifty times. On 438 00:24:24,480 --> 00:24:27,679 Speaker 1: this Earth Day, a group of self proclaimed climate activists 439 00:24:27,960 --> 00:24:30,639 Speaker 1: aimed to disrupt the distribution of The New York Times, 440 00:24:30,640 --> 00:24:33,760 Speaker 1: accusing the publication of not doing enough to call attention 441 00:24:33,800 --> 00:24:37,080 Speaker 1: to global warming. This woman was part of the standoff 442 00:24:37,160 --> 00:24:41,360 Speaker 1: in College Point, Queens this morning. I would have with 443 00:24:41,440 --> 00:24:44,840 Speaker 1: him is that I think this will pass and it 444 00:24:44,840 --> 00:24:48,159 Speaker 1: will be my recommendation you should be done. That is 445 00:24:48,200 --> 00:24:51,600 Speaker 1: a tape of Kevin McCarthy, my apologies. That is the 446 00:24:51,640 --> 00:24:56,719 Speaker 1: tape of the House speaker, the or the minority House speaker, 447 00:24:56,880 --> 00:25:01,199 Speaker 1: and he was talking about the latest involved and trying 448 00:25:01,200 --> 00:25:06,359 Speaker 1: to get President Trump to resign. He denied the story 449 00:25:06,400 --> 00:25:08,560 Speaker 1: at first, but then there was audio that said that 450 00:25:08,800 --> 00:25:12,880 Speaker 1: he did so. Representative Marjorie Taylor Green of Georgia will 451 00:25:12,920 --> 00:25:15,679 Speaker 1: be testifying under oath today and a legal challenge to 452 00:25:15,760 --> 00:25:19,760 Speaker 1: remove her from next month's Republican Party primary. A group 453 00:25:19,840 --> 00:25:22,720 Speaker 1: of voters as Green violated a provision in the fourteenth 454 00:25:22,760 --> 00:25:26,120 Speaker 1: amendment that disqualifies any candidate for office if they are 455 00:25:26,160 --> 00:25:30,040 Speaker 1: a member of an insurrection. Buying a piece of Hollywood 456 00:25:30,080 --> 00:25:33,199 Speaker 1: history had crowds lining up around the Los Angeles home 457 00:25:33,240 --> 00:25:36,480 Speaker 1: of the late Jeopardy host Alex Trebeck. Hundreds of Trebeck's 458 00:25:36,520 --> 00:25:40,040 Speaker 1: items are on sale through Sunday. This man waited in 459 00:25:40,080 --> 00:25:42,080 Speaker 1: line for two hours, but said the trip was well 460 00:25:42,080 --> 00:25:45,000 Speaker 1: worth it. I got myself a nice little bottle of 461 00:25:45,000 --> 00:25:48,120 Speaker 1: whiskey that I'm gonna tell s Alex trevec tonight when 462 00:25:48,119 --> 00:25:51,240 Speaker 1: I watched Jeopardy. I got this lovely tie on one 463 00:25:51,240 --> 00:25:53,679 Speaker 1: of his canes. But I tell you, most of the 464 00:25:53,680 --> 00:25:56,480 Speaker 1: fun is just being at this house. Very cool. Some 465 00:25:56,560 --> 00:25:59,000 Speaker 1: of the items included a director's chair with his name 466 00:25:59,040 --> 00:26:02,119 Speaker 1: on it or Nate rud book sculptures, and autographed num 467 00:26:02,160 --> 00:26:05,400 Speaker 1: Rebelia Global News twenty four hours a day on air 468 00:26:05,560 --> 00:26:09,320 Speaker 1: and on Bloomberg Quicktake, powered by more than the journalists, analysts, 469 00:26:09,320 --> 00:26:11,600 Speaker 1: more than a hundred twenty countries. Him Michael Barr, and 470 00:26:11,680 --> 00:26:19,280 Speaker 1: this is Bloomberg. Nathan, Thanks Michael. Almost six thirty six 471 00:26:19,280 --> 00:26:21,640 Speaker 1: on Wall Street, time for the Bloomberg Sports Update. Here again, 472 00:26:21,640 --> 00:26:23,800 Speaker 1: it's John Stash, all right, Nathan Yankees were going for 473 00:26:23,840 --> 00:26:26,600 Speaker 1: their first series suite for the season, but they failed 474 00:26:26,600 --> 00:26:29,040 Speaker 1: to score against the x Yank Michael Pinata. The Detroit 475 00:26:29,080 --> 00:26:31,320 Speaker 1: Polpen Tigers won three nothing. Yanks had a chance eighth, 476 00:26:31,359 --> 00:26:33,640 Speaker 1: did ain't down one nothing, had the basis loaded one 477 00:26:33,640 --> 00:26:35,880 Speaker 1: outfailed to score, and then bottom the eighth. The Tigers 478 00:26:35,880 --> 00:26:39,119 Speaker 1: score twice as Austin Meadows Bloom did a two run double. 479 00:26:39,119 --> 00:26:43,040 Speaker 1: Aaron Boom chose to walk Miguel Cabrera intentionally to pitch 480 00:26:43,119 --> 00:26:46,439 Speaker 1: the Meadows. That infuriated Tiger fans who were there to 481 00:26:46,520 --> 00:26:50,040 Speaker 1: see Cabrera get his three thousand career head. Here's Boom 482 00:26:50,040 --> 00:26:52,200 Speaker 1: on the decision. It's a baseball call all the way, 483 00:26:52,440 --> 00:26:56,080 Speaker 1: you know, but but there's no doubt that there's a 484 00:26:56,080 --> 00:26:59,360 Speaker 1: little more like, you know, feeling to it right when 485 00:26:59,400 --> 00:27:03,879 Speaker 1: you're you know, understanding the situation. So um, you know. 486 00:27:03,960 --> 00:27:06,359 Speaker 1: But in the end, you gotta go with what you 487 00:27:06,400 --> 00:27:09,480 Speaker 1: think is is right within the within the context of 488 00:27:09,480 --> 00:27:12,160 Speaker 1: the game. Tigers are home this weekend, so Cabrera figures 489 00:27:12,160 --> 00:27:14,639 Speaker 1: to still reach the milestone at home. Yankees come home 490 00:27:14,680 --> 00:27:17,000 Speaker 1: now to play the Cleveland Guardians. Mets to play at 491 00:27:17,000 --> 00:27:19,080 Speaker 1: Arizona tonight. They beat the Giants in City Fields six 492 00:27:19,119 --> 00:27:22,600 Speaker 1: to two. Francisco Lindor continues his hot start. He had 493 00:27:22,680 --> 00:27:25,560 Speaker 1: a just two thirty last season. Glendora's at three oh 494 00:27:25,560 --> 00:27:27,520 Speaker 1: eight just in his fourth home out of the season. 495 00:27:27,520 --> 00:27:30,159 Speaker 1: Another win for the Rangers, fourth row fifty feet of 496 00:27:30,200 --> 00:27:32,760 Speaker 1: the season, six three over the Islanders as Andrew Copp 497 00:27:33,080 --> 00:27:35,200 Speaker 1: had the hat trick before the first period was over. 498 00:27:35,280 --> 00:27:37,919 Speaker 1: R Temmy Panner and assisted all all three later got another. 499 00:27:38,200 --> 00:27:41,040 Speaker 1: He's got seventy three assist. Chris Cryder now has fifty 500 00:27:41,080 --> 00:27:44,439 Speaker 1: one goals. NBA Playoffs. Three wins by road teams, Golden 501 00:27:44,440 --> 00:27:47,720 Speaker 1: State at Denver for a three nothing series lead. Dallas 502 00:27:47,720 --> 00:27:49,920 Speaker 1: wanted you tay to go up to one in Memphis, 503 00:27:49,960 --> 00:27:52,600 Speaker 1: now up to one on Minnesota. The Grizzlies came from 504 00:27:52,640 --> 00:27:56,200 Speaker 1: twenty six points down to win. John Stash Bloomberg Sports 505 00:27:56,240 --> 00:27:59,160 Speaker 1: Nathan Okay, John thanks at six thirty seven on Wall Street. 506 00:27:59,160 --> 00:28:00,760 Speaker 1: Time to take a look at some of the names 507 00:28:00,800 --> 00:28:02,399 Speaker 1: moving in the pre market. For that, we're joined by 508 00:28:02,440 --> 00:28:06,399 Speaker 1: Bloomberg Radio and TV Markets correspondent Crety Gupta, obviously created 509 00:28:06,400 --> 00:28:10,240 Speaker 1: the broader market is focused on tighter talk from the FED, 510 00:28:10,480 --> 00:28:13,520 Speaker 1: but some individual names are moving on earnings. This morning. 511 00:28:13,600 --> 00:28:16,040 Speaker 1: Those earnings still coming out fast and furious, and I 512 00:28:16,040 --> 00:28:17,840 Speaker 1: think to your point, Nathan, they're kind of taking a 513 00:28:17,840 --> 00:28:19,720 Speaker 1: little bit of a backseat just given all of this 514 00:28:19,840 --> 00:28:22,040 Speaker 1: kind of hawk ish talk that you're hearing anything to Moura, 515 00:28:22,119 --> 00:28:24,200 Speaker 1: for example, time about seventy five basis points in the 516 00:28:24,600 --> 00:28:27,200 Speaker 1: July meetings. It's wild, But you can't forget the earning 517 00:28:27,240 --> 00:28:29,240 Speaker 1: story because this is really important when it comes to 518 00:28:29,320 --> 00:28:31,720 Speaker 1: how much they can actually pass on some of the 519 00:28:31,760 --> 00:28:33,880 Speaker 1: cost of consumers, how much they can rely on their 520 00:28:33,880 --> 00:28:36,280 Speaker 1: cash cushion, and also how much they're growing in this 521 00:28:36,320 --> 00:28:39,120 Speaker 1: inflationary environment. And that's where I think Snapchat is a 522 00:28:39,200 --> 00:28:41,280 Speaker 1: really key stock to look at. S n a p 523 00:28:41,440 --> 00:28:44,440 Speaker 1: s your taker down one point six percent this morning. 524 00:28:44,680 --> 00:28:46,760 Speaker 1: Now this is important because they did miss their first 525 00:28:46,800 --> 00:28:48,640 Speaker 1: quarter estimate, so naturally you're seeing a little bit of 526 00:28:48,680 --> 00:28:51,520 Speaker 1: pressure in the stock, but they also had stronger user 527 00:28:51,560 --> 00:28:53,440 Speaker 1: growth um And that being said, they al said the 528 00:28:53,720 --> 00:28:56,520 Speaker 1: company CFOs that he believed the war in Ukraine would 529 00:28:56,520 --> 00:29:00,239 Speaker 1: continue to impact marketing budget. Remember Snapchat, Twitter, Pinterest, they 530 00:29:00,240 --> 00:29:02,840 Speaker 1: get their money from advertising ad spend, which is really 531 00:29:02,920 --> 00:29:06,680 Speaker 1: dependent on cicklicality. How much kind of business investments are 532 00:29:06,760 --> 00:29:08,680 Speaker 1: people willing to spend on marketing and things like that. 533 00:29:08,760 --> 00:29:11,520 Speaker 1: So obviously the war Ukraine certainly pressuring that. But what 534 00:29:11,760 --> 00:29:14,880 Speaker 1: it was also interesting is the analysts remain pretty positive. 535 00:29:14,920 --> 00:29:16,680 Speaker 1: That's not reflecting in the stock yet, which is why 536 00:29:16,680 --> 00:29:19,080 Speaker 1: you want to keep an eye on this Taker s 537 00:29:19,200 --> 00:29:21,400 Speaker 1: n a p going into the open, because what they're 538 00:29:21,400 --> 00:29:23,640 Speaker 1: saying is that, well, if they have stronger user growth 539 00:29:23,680 --> 00:29:27,560 Speaker 1: in this inflationary, slowing growth environment in the background of 540 00:29:27,560 --> 00:29:29,920 Speaker 1: the war in Ukraine, then that kind of means they 541 00:29:29,920 --> 00:29:32,560 Speaker 1: could do better in an even better environment. So they're 542 00:29:32,600 --> 00:29:35,280 Speaker 1: saying that these results aren't too bad. Once again, let's 543 00:29:35,320 --> 00:29:37,800 Speaker 1: see if the stock market actually digests that. Now. I 544 00:29:37,840 --> 00:29:40,000 Speaker 1: see you're keeping an eye on Gap as well. Of course, 545 00:29:40,000 --> 00:29:43,760 Speaker 1: they reported earnings and the inflation picture is very important 546 00:29:43,800 --> 00:29:46,240 Speaker 1: for their outlook as well. Yeah, the worst performer this 547 00:29:46,320 --> 00:29:51,200 Speaker 1: morning in the SMPPS is your Taker down. This comes 548 00:29:51,200 --> 00:29:54,400 Speaker 1: after they lowered their quarterly sales growth guidance. And ember 549 00:29:54,440 --> 00:29:57,840 Speaker 1: Gap is the parent company for Banana Republic, Gap Clothing, 550 00:29:58,200 --> 00:30:02,280 Speaker 1: Old Navy athleta cetera. But the president CEO, Nancy Green 551 00:30:02,360 --> 00:30:05,360 Speaker 1: of Old Navy actually is leaving the company as well, 552 00:30:05,400 --> 00:30:07,120 Speaker 1: and analysts are saying well, the focus is really on 553 00:30:07,200 --> 00:30:09,720 Speaker 1: Old Navy. Can they continue to grow at the same 554 00:30:10,160 --> 00:30:11,800 Speaker 1: kind of pace that they have in the past couple 555 00:30:11,800 --> 00:30:14,239 Speaker 1: of days, especially if they lose their leaders. So we're 556 00:30:14,240 --> 00:30:17,800 Speaker 1: gonna keep an eye on those shares. GPS down thirteen well, 557 00:30:17,840 --> 00:30:20,560 Speaker 1: now fourteen percent. I say, moving to the downside very quickly. 558 00:30:20,640 --> 00:30:23,080 Speaker 1: I'm gonna end very quickly with Boston Beer. For anyone 559 00:30:23,160 --> 00:30:25,560 Speaker 1: who drinks Sam Adams, I'm not a beer girl. Maybe 560 00:30:25,560 --> 00:30:30,200 Speaker 1: who are okay, but the girl that's for sure. Fair enough. Well, 561 00:30:30,240 --> 00:30:32,200 Speaker 1: they missed estimates a lot of the saying that hurt 562 00:30:32,240 --> 00:30:36,240 Speaker 1: by shipment volume. Decreases in truly Hard Seltzer, Twisted Tea, 563 00:30:36,320 --> 00:30:39,880 Speaker 1: and Great Orchard and dog fish Head brands, but increases 564 00:30:39,960 --> 00:30:41,960 Speaker 1: in the Samuel Adams brand. So once again it does 565 00:30:41,960 --> 00:30:44,560 Speaker 1: come down to shipments for that company. Those shares only 566 00:30:44,600 --> 00:30:47,000 Speaker 1: down one ton of percent, but analysts expecting it to 567 00:30:47,040 --> 00:30:50,400 Speaker 1: move once the market opens. Shairs Bloomberg Grading and TV 568 00:30:50,480 --> 00:30:54,000 Speaker 1: Markets correspondent Creedy gufta with us on this Friday morning 569 00:30:54,040 --> 00:30:55,880 Speaker 1: looking at stocks as a whole ahead of the open. 570 00:30:55,920 --> 00:30:58,720 Speaker 1: The futures are moving lower. We have SMP futures down 571 00:30:58,760 --> 00:31:01,080 Speaker 1: eighteen points. Staff future is down a hunt at thirty nine. 572 00:31:01,440 --> 00:31:04,680 Speaker 1: NASTAC futures are lower by sixty one points. Looking at 573 00:31:04,720 --> 00:31:07,200 Speaker 1: the tenure, it's down six thirty seconds. The yield two 574 00:31:07,200 --> 00:31:10,760 Speaker 1: point nine three percent. Yield on the two year two 575 00:31:10,760 --> 00:31:15,440 Speaker 1: point seven five. Stay with us. You're listening to Bloomberg 576 00:31:15,600 --> 00:31:23,720 Speaker 1: Daybreak on this Friday morning. Bloomberg eleven three oh weather 577 00:31:23,800 --> 00:31:25,720 Speaker 1: sunshine with a high near seventy today, it will be 578 00:31:25,720 --> 00:31:29,360 Speaker 1: partly Sunday Tomorrow low sixties, upper sixties, mix of sun 579 00:31:29,360 --> 00:31:32,120 Speaker 1: and clouds for Sunday. Nice weekend on tap currently fifty 580 00:31:32,120 --> 00:31:40,080 Speaker 1: three in Central Park Markets. Headlines and breaking news twenty 581 00:31:40,080 --> 00:31:42,960 Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg 582 00:31:42,960 --> 00:31:52,920 Speaker 1: Business Out and at Bloomberg Bricktake is a Bloomberg Business Flash. 583 00:31:53,280 --> 00:31:55,520 Speaker 1: And I'm Karen Moscow. There's update brought to you by 584 00:31:55,560 --> 00:31:58,680 Speaker 1: b and Why Mellon's Pershing. Learn why the world's most 585 00:31:58,680 --> 00:32:02,680 Speaker 1: sophisticated wealth meta, mint and institutional firms rely on Pershing 586 00:32:02,760 --> 00:32:06,760 Speaker 1: to help them improve profitability, create efficiency, attract talent and 587 00:32:06,800 --> 00:32:11,880 Speaker 1: manage risk At Pershing dot Com. Futures this morning moving lower. 588 00:32:12,000 --> 00:32:14,280 Speaker 1: We got the first word breaking news desk for today's 589 00:32:14,280 --> 00:32:18,680 Speaker 1: morning call. Here's Bill maloney, Bill, good morning, and good morning, Karen. 590 00:32:18,720 --> 00:32:20,600 Speaker 1: That's right. US futures are in the red right now, 591 00:32:20,600 --> 00:32:22,840 Speaker 1: with death futures down a hundred and one point, ssames 592 00:32:22,880 --> 00:32:26,960 Speaker 1: drop twelve, Nasadak futures declined by thirty three. The US 593 00:32:27,120 --> 00:32:29,800 Speaker 1: ten yeald at two point nine three percent, Gold is 594 00:32:29,840 --> 00:32:33,000 Speaker 1: down nineteen, Oil is also fading, and bitcoin is down 595 00:32:33,000 --> 00:32:36,600 Speaker 1: by point seven percent. Japan dropped one point six percent overnight, 596 00:32:36,640 --> 00:32:39,120 Speaker 1: while europ markets are also in the red, led by 597 00:32:39,120 --> 00:32:42,000 Speaker 1: two percent losses in Germany. Back in the US. On 598 00:32:42,040 --> 00:32:45,520 Speaker 1: the economic front, at US April Manufacturing p m I 599 00:32:45,920 --> 00:32:49,360 Speaker 1: and after the belast night Intuitive Surgical EPs beat estimates, 600 00:32:49,560 --> 00:32:53,360 Speaker 1: SNAP revenue guidance did fall short, and regarding earnings this morning, 601 00:32:53,520 --> 00:32:56,360 Speaker 1: s a P reported a profit miss. Also look for 602 00:32:56,400 --> 00:32:59,680 Speaker 1: American Express, Kimberly Clark, and Verizon to report in the 603 00:32:59,680 --> 00:33:02,120 Speaker 1: pre market. Rapping things up, jeb Lou has cut to 604 00:33:02,120 --> 00:33:05,000 Speaker 1: hold over at Deutsche Bank. American Airlines raised to neutral 605 00:33:05,280 --> 00:33:08,200 Speaker 1: over h Ap. Morgan Live on the first to breaking 606 00:33:08,200 --> 00:33:10,720 Speaker 1: news discom Boo Maloney, care all right, Bill, thank you, 607 00:33:10,720 --> 00:33:13,000 Speaker 1: and to hear live breaking news of your Bloomberg type 608 00:33:13,040 --> 00:33:15,880 Speaker 1: squawk on your terminal. SCU A W k that's a 609 00:33:15,920 --> 00:33:18,600 Speaker 1: Bloomberg Business Flash. Now here's Michael Barr with more on 610 00:33:18,720 --> 00:33:21,080 Speaker 1: what's going on around the world. Michael Karen, thank you 611 00:33:21,200 --> 00:33:23,040 Speaker 1: very much. The US is sending a new batch of 612 00:33:23,080 --> 00:33:26,600 Speaker 1: military equipment to Ukraine to help that country battle the 613 00:33:26,680 --> 00:33:31,080 Speaker 1: Russian invasion. Among the new hardware aren't new Phoenix ghost drones. 614 00:33:31,440 --> 00:33:34,400 Speaker 1: Philadelphia health officials say they're ending the city's into a 615 00:33:34,480 --> 00:33:38,720 Speaker 1: mask mandate, abruptly reversing course just days after people in 616 00:33:38,760 --> 00:33:41,440 Speaker 1: the city had to start wearing masks again and then 617 00:33:41,520 --> 00:33:45,640 Speaker 1: a sharp increase in infections. According to the Philadelphia Health Department, 618 00:33:45,720 --> 00:33:50,040 Speaker 1: there has been decreasing hospitalizations and leveling of case counts. 619 00:33:50,520 --> 00:33:53,480 Speaker 1: In the NBA playoffs, the Warriors beat the Nuggets one eighteen, 620 00:33:53,480 --> 00:33:56,200 Speaker 1: one thirteen to take a commanding three games to zip 621 00:33:56,280 --> 00:33:59,880 Speaker 1: lead in that series. In MLB, the Yankees red sog 622 00:34:00,360 --> 00:34:03,240 Speaker 1: Nationals lost, The Mets beat the Giant six to the 623 00:34:03,280 --> 00:34:06,280 Speaker 1: A's beat the Orioles six four. In the NHL, the 624 00:34:06,360 --> 00:34:09,600 Speaker 1: Rangers beat the Islanders six three, the Devil's and Bruins lost. 625 00:34:09,960 --> 00:34:12,480 Speaker 1: Global News twenty four hours a day on air and 626 00:34:12,680 --> 00:34:15,640 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 627 00:34:15,719 --> 00:34:18,360 Speaker 1: hundred journalists and analysts more than a hundred twenty countries. 628 00:34:18,520 --> 00:34:21,120 Speaker 1: I'm Michael barn. This is Bloomberg here all right, Michael, 629 00:34:21,160 --> 00:34:23,440 Speaker 1: thank you. Six forty nine on Wall Street returned to 630 00:34:23,480 --> 00:34:26,440 Speaker 1: news and science and technology. Now, but the Bloomberg and 631 00:34:26,520 --> 00:34:29,200 Speaker 1: j I T STEM Report, brought to you by New 632 00:34:29,280 --> 00:34:33,200 Speaker 1: Jersey Institute of Technology, ranked top fifty national public university 633 00:34:33,280 --> 00:34:36,120 Speaker 1: by US News and World Report and a top ten 634 00:34:36,200 --> 00:34:39,720 Speaker 1: for best career placement among public schools by the Princeton Review. 635 00:34:40,040 --> 00:34:41,920 Speaker 1: More at n j I T DOT E d U 636 00:34:42,360 --> 00:34:45,320 Speaker 1: and now here's this making news and science, technology, engineering, 637 00:34:45,320 --> 00:34:49,200 Speaker 1: and math. President Biden sent his administration's first national drug 638 00:34:49,280 --> 00:34:52,600 Speaker 1: control strategy to Congress as the US overdose death toll 639 00:34:52,680 --> 00:34:55,760 Speaker 1: hit a new record of nearly one hundred seven thousand 640 00:34:55,880 --> 00:34:58,279 Speaker 1: during the past twelve months. The White House says a 641 00:34:58,360 --> 00:35:01,680 Speaker 1: strategy is the first national anti prioritize was known as 642 00:35:01,760 --> 00:35:05,120 Speaker 1: harm reduction. That means it focuses on preventing death and 643 00:35:05,200 --> 00:35:08,040 Speaker 1: illness and drug users while trying to engage them in 644 00:35:08,160 --> 00:35:11,360 Speaker 1: care and treatment. Later today, the President will sign an 645 00:35:11,360 --> 00:35:15,080 Speaker 1: Earth Day Executive Order designed to safeguard old growth forests 646 00:35:15,120 --> 00:35:18,480 Speaker 1: that have common a threat from wildfires and drought. Scientists 647 00:35:18,520 --> 00:35:21,640 Speaker 1: have identified old growth trees as critical to fighting climate 648 00:35:21,719 --> 00:35:25,440 Speaker 1: change because they function as reservoirs for carbon dioxide, a 649 00:35:25,560 --> 00:35:29,799 Speaker 1: key greenhouse gas. And separately, according to scientists at the 650 00:35:29,840 --> 00:35:34,840 Speaker 1: Copernicus Climate Change Service, climate change produced another record breaking 651 00:35:34,920 --> 00:35:38,959 Speaker 1: year of extreme weather in Europe in one, triggering catastrophic 652 00:35:39,000 --> 00:35:42,560 Speaker 1: flooding and the hottest summer on record. Globally, the last 653 00:35:42,560 --> 00:35:45,120 Speaker 1: seven years have been the warmest since records began in 654 00:35:45,239 --> 00:35:50,880 Speaker 1: eighteen fifty one, ranking six. And that's the Bloomberg and j. I. T. 655 00:35:51,040 --> 00:35:54,080 Speaker 1: Stamm Report. Nathan, all right, Karen, thank you. We are 656 00:35:54,160 --> 00:35:56,960 Speaker 1: live from the Bloomberg Interactive Brokers Studios or at six 657 00:35:57,080 --> 00:35:59,319 Speaker 1: fifty one on Wall Street Time Now to check what's 658 00:35:59,320 --> 00:36:01,480 Speaker 1: going on in DC. Some of the top stories in 659 00:36:01,480 --> 00:36:04,359 Speaker 1: our nation's capital include the US sending even more aid, 660 00:36:04,400 --> 00:36:07,440 Speaker 1: more than a billion dollars worth to Ukraine, President Biden 661 00:36:07,480 --> 00:36:10,520 Speaker 1: warning Democrats they need to clue voters in on their achievements, 662 00:36:10,960 --> 00:36:14,959 Speaker 1: and House Republican leader Kevin McCarthy denying he would push 663 00:36:15,000 --> 00:36:18,840 Speaker 1: for a former President Trump to resign. But there are tapes, 664 00:36:19,400 --> 00:36:22,400 Speaker 1: let's get now and all these stories. Bloomberg Government reporter 665 00:36:22,480 --> 00:36:25,920 Speaker 1: Emily Wilkins joins US now from the nation's capital, Emily. 666 00:36:26,080 --> 00:36:28,719 Speaker 1: So yet more aid is coming, and I guess the 667 00:36:28,800 --> 00:36:31,400 Speaker 1: question is, isn't coming soon enough? Is it going to 668 00:36:31,480 --> 00:36:34,480 Speaker 1: be enough for Ukraine to turn the tide? Yeah, Nathan, 669 00:36:34,480 --> 00:36:37,280 Speaker 1: We've got one point three billion that Biden has announced 670 00:36:37,280 --> 00:36:40,160 Speaker 1: so far in additional aid. Eight hundred million of thoughts 671 00:36:40,200 --> 00:36:42,440 Speaker 1: going to be going to weapons, and Biden said these 672 00:36:42,440 --> 00:36:44,960 Speaker 1: are different kinds of weapons, ones that really reflect the 673 00:36:45,040 --> 00:36:49,239 Speaker 1: changes of this invasion into Ukraine. But that's not going 674 00:36:49,320 --> 00:36:52,080 Speaker 1: to be everything. Biden also said that he was going 675 00:36:52,120 --> 00:36:54,480 Speaker 1: to be putting in a new funding request to Congress 676 00:36:54,480 --> 00:36:57,200 Speaker 1: Speaker Nancy Pelosi said that they expect to see that 677 00:36:57,239 --> 00:36:59,319 Speaker 1: in the next few days and that they're going to 678 00:36:59,360 --> 00:37:01,960 Speaker 1: try to move on that as quickly as possible. It 679 00:37:02,040 --> 00:37:04,760 Speaker 1: might not be next week, but if they can move quickly, 680 00:37:05,080 --> 00:37:07,680 Speaker 1: they might be able to really get this through. There's 681 00:37:07,719 --> 00:37:10,960 Speaker 1: still a lot of bipartisan support. UM. I think at 682 00:37:10,960 --> 00:37:14,160 Speaker 1: this point, the mindset in in d C is that 683 00:37:14,200 --> 00:37:16,240 Speaker 1: this invasion is going to be going on for quite 684 00:37:16,239 --> 00:37:18,960 Speaker 1: some time, that the US is committed to continuing to 685 00:37:19,000 --> 00:37:24,120 Speaker 1: provide Ukraine with military aid, humanitarian aid, aid for refugees, um. 686 00:37:24,120 --> 00:37:26,319 Speaker 1: But at this point they're still holding firm to that 687 00:37:26,400 --> 00:37:28,319 Speaker 1: red line that they're not going to be sending an 688 00:37:28,320 --> 00:37:30,960 Speaker 1: American troops, they're not going to be instituting a no 689 00:37:31,080 --> 00:37:34,759 Speaker 1: fly zone, but they will be helping out Ukraine in 690 00:37:34,920 --> 00:37:37,920 Speaker 1: a financial sense. So while we wait for the details 691 00:37:37,960 --> 00:37:40,880 Speaker 1: on how much more of that financing could be coming 692 00:37:40,920 --> 00:37:45,040 Speaker 1: from Capitol Hill, we've been hearing from Ukrainian officials in 693 00:37:45,120 --> 00:37:48,640 Speaker 1: Washington talking about the idea they need a martial style 694 00:37:48,719 --> 00:37:52,280 Speaker 1: plan to rebuild once this war ends. They're talking about 695 00:37:52,320 --> 00:37:55,960 Speaker 1: something like six hundred billion dollars. I mean, what's the 696 00:37:55,960 --> 00:37:59,279 Speaker 1: appetite not just for Congress, but for allies that are 697 00:37:59,280 --> 00:38:02,080 Speaker 1: meeting in Why Shington for that kind of support for 698 00:38:02,200 --> 00:38:05,640 Speaker 1: Ukraine after the war? Right now? I think there is 699 00:38:05,680 --> 00:38:08,040 Speaker 1: a lot of support, at least in Congress, at least 700 00:38:08,080 --> 00:38:10,920 Speaker 1: in the US. I mean, you've obviously seen sort of 701 00:38:10,960 --> 00:38:15,440 Speaker 1: different levels of desire to support Ukraine or at a 702 00:38:15,440 --> 00:38:18,600 Speaker 1: wider global scale across Europe as far as what countries 703 00:38:18,719 --> 00:38:21,360 Speaker 1: are and aren't willing to do and are aren't able 704 00:38:21,400 --> 00:38:22,880 Speaker 1: to do at this point too. I mean when it 705 00:38:22,920 --> 00:38:27,040 Speaker 1: comes to gas prices into Russian oil um. And I 706 00:38:27,080 --> 00:38:29,560 Speaker 1: think this is something that Biden is going to continue 707 00:38:29,560 --> 00:38:32,960 Speaker 1: to focus on. He's really painted himself as someone who 708 00:38:33,040 --> 00:38:35,360 Speaker 1: has worked with Europe, who has worked with other countries, 709 00:38:35,400 --> 00:38:38,480 Speaker 1: who has brought them along. And you're even seeing some 710 00:38:38,600 --> 00:38:42,280 Speaker 1: concerns raised by State Department officials, you know, warring China 711 00:38:42,400 --> 00:38:45,799 Speaker 1: again recently, that you have sanctions could come if they 712 00:38:45,840 --> 00:38:49,759 Speaker 1: wind up signing with Russia or helping Russia avoid some 713 00:38:49,840 --> 00:38:53,080 Speaker 1: of the impact of sanctions. Well, while the President focuses 714 00:38:53,200 --> 00:38:55,919 Speaker 1: on continued support for Ukraine, we have heard him start 715 00:38:55,960 --> 00:38:58,880 Speaker 1: to focus a little bit more now on getting ready 716 00:38:58,920 --> 00:39:02,000 Speaker 1: for the mid terms, particularly with this trip out West, 717 00:39:02,000 --> 00:39:05,799 Speaker 1: where he's really trying to talk up fellow Democrats and 718 00:39:06,080 --> 00:39:09,920 Speaker 1: sort of get them enthused about the accomplishments he says 719 00:39:10,239 --> 00:39:13,040 Speaker 1: that have already been made. Yeah, we've heard this line 720 00:39:13,080 --> 00:39:15,600 Speaker 1: before from the White House saying that, you know, they 721 00:39:15,640 --> 00:39:18,160 Speaker 1: just need to tout their accomplishments more. I mean, you 722 00:39:18,200 --> 00:39:21,480 Speaker 1: saw lawmakers alone Ado I think more than a thousand 723 00:39:21,560 --> 00:39:25,360 Speaker 1: different events trying to let people know about this infrastructure 724 00:39:25,400 --> 00:39:27,359 Speaker 1: bill and what it's going to be and what it's 725 00:39:27,360 --> 00:39:31,239 Speaker 1: going to become. Certainly that is part of the Democrats 726 00:39:31,239 --> 00:39:34,400 Speaker 1: strategy is going into the midterm, but neither. The reality 727 00:39:34,520 --> 00:39:37,040 Speaker 1: is that Biden's poll numbers are down, and they're not 728 00:39:37,080 --> 00:39:40,120 Speaker 1: just down because people don't think he's doing things. They're 729 00:39:40,120 --> 00:39:43,680 Speaker 1: down for a number of reasons, uh, including the fact 730 00:39:43,719 --> 00:39:46,920 Speaker 1: that inflation is high, that gas prices are high, that 731 00:39:47,080 --> 00:39:50,000 Speaker 1: COVID nineteen is still an issue in some areas of 732 00:39:50,040 --> 00:39:53,640 Speaker 1: the country, and there is now a very divided electorate 733 00:39:53,760 --> 00:39:55,480 Speaker 1: and when it comes to how to deal it and 734 00:39:55,600 --> 00:39:57,879 Speaker 1: what to roll back. You're seeing that right now within 735 00:39:58,040 --> 00:40:01,920 Speaker 1: the Democratic Party, just over what should happen with immigration 736 00:40:02,480 --> 00:40:06,200 Speaker 1: pandemic related processes. So really, I think there's a much 737 00:40:06,239 --> 00:40:09,279 Speaker 1: bigger problem for the Democrats going into this November than 738 00:40:09,360 --> 00:40:12,960 Speaker 1: simply telling voters what they've done with infrastructure. It's certainly 739 00:40:13,040 --> 00:40:15,320 Speaker 1: a piece of what Democrats are going to be pushing. 740 00:40:15,400 --> 00:40:17,759 Speaker 1: I'm sure you'll see Biden make more trips like the 741 00:40:17,760 --> 00:40:20,359 Speaker 1: ones he's made this week to talk about it. But 742 00:40:20,360 --> 00:40:22,839 Speaker 1: but there are much larger problems with here, and not 743 00:40:22,920 --> 00:40:26,759 Speaker 1: all of them are within the control of the Biden administration. Well, 744 00:40:26,760 --> 00:40:31,120 Speaker 1: there's another interesting political dynamic here heading into the mid terms. 745 00:40:31,320 --> 00:40:36,680 Speaker 1: We're seeing potentially, uh, some possibility of a split within 746 00:40:36,719 --> 00:40:40,399 Speaker 1: the Republican Party, particularly when you think about this new 747 00:40:40,560 --> 00:40:43,879 Speaker 1: tape that has come out of House Republican leader Kevin 748 00:40:43,960 --> 00:40:47,800 Speaker 1: McCarthy saying that he at the time would have pushed 749 00:40:47,840 --> 00:40:51,760 Speaker 1: for then President Trump to resign after January six. Yeah, Nathan, 750 00:40:51,840 --> 00:40:54,600 Speaker 1: this was pretty explosive of The New York Times came 751 00:40:54,640 --> 00:40:57,360 Speaker 1: out with this story the other day in McCarthy's office 752 00:40:57,440 --> 00:41:00,480 Speaker 1: to hide it, said it was inaccurate. And then last night, Uh, 753 00:41:00,520 --> 00:41:04,640 Speaker 1: the two reporters from the Times went on MSNBC and 754 00:41:04,719 --> 00:41:08,880 Speaker 1: they actually played a recording of McCarthy saying that he 755 00:41:08,960 --> 00:41:12,359 Speaker 1: thought that Trump should resign, that he needed to step down. Uh. 756 00:41:12,360 --> 00:41:14,880 Speaker 1: And this is way back right after the aftermath of 757 00:41:14,960 --> 00:41:18,239 Speaker 1: January six, and McCarthy we've really kind of seen. He 758 00:41:18,320 --> 00:41:20,399 Speaker 1: was one of the individuals who, you know, really seem 759 00:41:20,440 --> 00:41:23,719 Speaker 1: to come out strong against Trump in the immediate aftermath. 760 00:41:23,920 --> 00:41:27,319 Speaker 1: But over time his rhetorics softened, he became sort of more, 761 00:41:27,920 --> 00:41:30,200 Speaker 1: you know, more appeasing to the president. And a lot 762 00:41:30,239 --> 00:41:32,640 Speaker 1: of this is tied because McCarthy is he's the top 763 00:41:32,640 --> 00:41:35,160 Speaker 1: Republican in the House, he's in line to be speaker, 764 00:41:35,520 --> 00:41:39,080 Speaker 1: and he's trying to sort of maneuver between appealing both 765 00:41:39,120 --> 00:41:44,440 Speaker 1: to the sort of traditional mainstream Reagan era Republicans and 766 00:41:44,480 --> 00:41:47,960 Speaker 1: then the sort of new Trump era Republicans. He's got 767 00:41:47,960 --> 00:41:50,759 Speaker 1: to keep both of those groups together and both of 768 00:41:50,800 --> 00:41:53,160 Speaker 1: them in their favor to be speaker. I think the 769 00:41:53,160 --> 00:41:55,600 Speaker 1: big question right now in d C is how does 770 00:41:55,640 --> 00:41:59,400 Speaker 1: Trump respond to this news. Does he go after Kevin McCarthy, 771 00:41:59,480 --> 00:42:02,239 Speaker 1: because if he does, that might mean that we'll see 772 00:42:02,280 --> 00:42:06,800 Speaker 1: someone else become speaker next year. If Republicans win in November, 773 00:42:07,160 --> 00:42:09,680 Speaker 1: it's gonna be really interesting to see whether this resonates 774 00:42:09,800 --> 00:42:12,439 Speaker 1: outside the belt Way. Well, we'll leave it there for now. 775 00:42:12,520 --> 00:42:16,200 Speaker 1: Thank you, as always, Bloomberg Government reporter Emily Wilkins, and 776 00:42:16,239 --> 00:42:18,880 Speaker 1: you can read more about all these stories on Bloomberg 777 00:42:18,960 --> 00:42:21,800 Speaker 1: dot com or on the Bloomberg terminal. Listen to Bloomberg 778 00:42:21,880 --> 00:42:25,359 Speaker 1: Radio in Washington at Bloomberg and one oh five point 779 00:42:25,440 --> 00:42:29,480 Speaker 1: seven FM HD two. Right now, SMP futures down sixteen 780 00:42:29,480 --> 00:42:33,440 Speaker 1: points down, futures down a, Nasdaq futures down fifty two points. 781 00:42:33,800 --> 00:42:36,640 Speaker 1: The tenure Treasury is down seven thirty seconds, with the 782 00:42:36,719 --> 00:42:39,120 Speaker 1: yield two point nine three percent yield on the two 783 00:42:39,200 --> 00:42:43,080 Speaker 1: year two point seven four Bloomberg Surveillance is next for 784 00:42:43,200 --> 00:42:47,560 Speaker 1: Karen Moscow I'm Nathan Hagar. This is Bloomberg