Speaker 1: Live from the Bloomberg Interactive Burger Studios. Is Bloomberg Daybreak
Speaker 1: for a Friday, May six coming up this hour. Markets
Speaker 1: close out of volat whole week following yesterday's three and
Speaker 1: a half percent plunge on Wall Street, Investors brace for
Speaker 1: the April jobs report. A former FED Vice chair says
Speaker 1: short term rates need a triple from current levels and
Speaker 1: the airline industry or does the Biden administration to drop
Speaker 1: the COVID test mandid It would be the largest red
Speaker 1: hike in years for New York City apartments, plus a
Speaker 1: historic higher for the new White House Press Secretary Michael
Speaker 1: are more Alf I'm John Stashtoward sports. Rangers beat the
Speaker 1: Penguins and tie the series, and one an amazing comeback
Speaker 1: win by the Mets in Philadelphia. That's all training ahead
Speaker 1: on Bloomberg Daybreak on Bloomberg eleven, Free on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixty, San Francisco, Sirius XM one nine team
Speaker 1: and around the world Down Bloomberg Radio Dot Car via
Speaker 1: the Bloomberg Business app. Good morning, I'm Karen Moscown I'm
Speaker 1: Nathan Hagar. Bloomberg Daybreak is brought to you by B
Speaker 1: n y Melon's Pershing Learned why the world's most sophisticated
Speaker 1: wealth management and institutional firms rely on Pershing to help
Speaker 1: them improve profitability, create efficiency, attract talent, and manage risk
Speaker 1: at pershing dot Com. A right, Nathan, and futures are
Speaker 1: lower this morning. We are at six o one on
Speaker 1: Wall Street and we checked the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg. Guess and P futures
Speaker 1: are down eight points this morning. Down futures down thirty one.
Speaker 1: Nasday Future is down thirty nine. Ten year Treasury down
Speaker 1: ten thirty seconds. You know, three point oh seven percent,
Speaker 1: and they yield on the two year two point seven
Speaker 1: two percent and nine max Screwed oil is up two
Speaker 1: point three percent, up two dollars forty nine cents at
Speaker 1: a hundred ten dollars seventy six cents a barrel. Nathan, Well, Karen.
Speaker 1: We close out this volatile week following two consecutive days
Speaker 1: of three percent moves and markets in the opposite direction,
Speaker 1: A day after stocks surged on a US hawk is
Speaker 1: fed the S and P five hundred fell three point
Speaker 1: six percent yesterday, while the NASTAC plummeted five percent. Jimmy
Speaker 1: Lee is CEO at Wealth Consulting Group. Retail investors are
Speaker 1: starting to get nervous and of course these last two
Speaker 1: days of altility um I think reminding some some people
Speaker 1: of what it was like March and maybe those have
Speaker 1: been around longer, maybe the financial crisis. Wealth Consulting Group
Speaker 1: CEO Jimmy Lee made the comments on Bloomberg Business Week,
Speaker 1: which you can hear weekdays from two to five pm
Speaker 1: Eastern on Bloomberg Radio. We also got reaction on the
Speaker 1: Cell off from Charles Schwab, chief market strategist Lizianne Saunders.
Speaker 1: I don't think the market is yet priced in recession risk.
Speaker 1: I think the market is still making an assumption that
Speaker 1: we have a soft landing. I just think the needle
Speaker 1: is pointed a bit more toward recession and soft landing,
Speaker 1: and we may not be through that rerating process yet.
Speaker 1: Lizzie Saunders with Charles Schwab says yesterday's economic data showing
Speaker 1: labor cost surging and productivity dropping contributed to the Cell
Speaker 1: off and we get another key economic rating later this morning. Nathan.
Speaker 1: The April jobs report, economists forecast call for a gain
Speaker 1: of three hundred eighty thousand non farm pay rolls at
Speaker 1: an employment rate of three point five percent. We get
Speaker 1: more from Bloomberg s Michael McKee. One key question the
Speaker 1: April jobs report may answer, are we running out of
Speaker 1: people to hire? After months of luring sidelined workers back
Speaker 1: into the labor force, companies are beginning to suggest the
Speaker 1: post pandemic hiring spree is waning. This week's I S
Speaker 1: M manufacturing and services employment indexes both slowed. The ADP
Speaker 1: payroll report Wednesday was surprisingly soft. If employment growth starts
Speaker 1: to ease, that may push unemployment down and wages up,
Speaker 1: which sets up an interesting situation for the Fed. Rising
Speaker 1: wages suggest an inflation problem continues, but low unemployment, coupled
Speaker 1: with record levels of job openings gives the Fed the
Speaker 1: opportunity to raise interest rates without doing as much damage
Speaker 1: to the overall economy. Michael McKee, Bloomberg gabriak. All right, Michael,
Speaker 1: thank you. I'll stay with Bloomberg throughout the morning for
Speaker 1: complete analysis of the Johns report. Do we speak live
Speaker 1: with Labor Secretary Marty Walsh coming up at am Wall
Speaker 1: Street time on Bloomberg Radio and television. Well, we wait
Speaker 1: for that, Karen and other former FED officials weighing in
Speaker 1: on policy. Former Vice chair Richard Clarenda says the Fed
Speaker 1: will need to raise short term interest rates to at
Speaker 1: least three and a half percent to bring inflation under control.
Speaker 1: We get the details from Bloomberg's Charlie Pellett. Clarada's remarks
Speaker 1: came in a speech to a Hoover Institute conference. He
Speaker 1: said the funds rate will ultimately need to be raised
Speaker 1: well into restrictive territory by at least a percentage point
Speaker 1: above the estimated nominal neutral rate of two and a
Speaker 1: half percent. Clarida left the Fed in January. On Wednesday,
Speaker 1: the Fed raised its target range for the federal funds
Speaker 1: rate by a half percentage point. It also said ongoing
Speaker 1: increases are likely, and it announced a plan to start
Speaker 1: reducing its big balance sheet next month. In New York.
Speaker 1: Charlie Pellet Bloomberg Day Break, Right, Charlie, thank you now
Speaker 1: to the latest on the war in Ukraine. More civilian
Speaker 1: evacuations are expected from Maria Pole, but Ukrainian defenders are
Speaker 1: refusing to surrender. The giant steel plant that's been under
Speaker 1: relentless attack from Russia for weeks. Pentagon's spokesman John Kirby,
Speaker 1: we would still assess that the Ukrainians are putting up
Speaker 1: a very stiff resistance and that the Russians have not
Speaker 1: made the progress that we believe they expected to make
Speaker 1: by this point. Pentagon spokesman John Kirby said, the battle
Speaker 1: is far from over. Meantime, speculation grows that Vladimir Plutin
Speaker 1: wants a major battlefield victory in time for World War
Speaker 1: Two era Victory Day commemorations. First, Lady Joe Biden is
Speaker 1: headed to Eastern Europe. Sh'll meet with US troops and
Speaker 1: Ukrainian mothers and children in Romania, and spend Mother's Day
Speaker 1: with displaced families in Slovakia. Let's turn to the pandemic now, Karen.
Speaker 1: We're seeing the travel industry put new pressure on COVID policies.
Speaker 1: Wants the Biden administration to modify testing mandates for international flyers.
Speaker 1: Bloombergs that Baxter has the story. Airlines, along with travel groups,
Speaker 1: want to begin allowing vaccinated people to fly into the
Speaker 1: US without first testing negative for COVID. This coalition includes
Speaker 1: more than two hundred fifty travel groups and businesses, including airports.
Speaker 1: They say the recovery and the international travel market is
Speaker 1: down about seventy eight percent from twenty nineteen, and say
Speaker 1: medical advancements can support it. Other countries, including the UK, Germany,
Speaker 1: and Canada have already dropped that mandate. In San Francisco,
Speaker 1: I'm at Baxter Bloomberg Daybreak, right and thank you. Meantime,
Speaker 1: Johnson and Johnson's COVID vaccine is under scrutiny. US regulators
Speaker 1: are placing limits on this shot, and we get the
Speaker 1: latest lie from Bloomberg's nit a Young Good Morning Rity
Speaker 1: to Good morning Karen. The f d A is limiting
Speaker 1: the use of the J and J shot to adults
Speaker 1: for whom other shots are not medically appropriate or accessible.
Speaker 1: The agency is also allowing those who would otherwise not
Speaker 1: get immunized against the virus take JJ and j's shot.
Speaker 1: And the FDA made the decision to limit the authorized
Speaker 1: use of J and J shot after investigating reported cases
Speaker 1: of blood clots and people who have taken the vex
Speaker 1: seen live in New York. I'm gonna need a Young
Speaker 1: Bloomberg daybreak, all right. We need to thank you. Right now,
Speaker 1: SMP futures are down seven point staff futures down twenty four.
Speaker 1: NASTACT futures lower by thirty five points. The tenure treasury
Speaker 1: yield right now three point zero seven percent. Straight ahead,
Speaker 1: your latest local headlines and a check of sports. This
Speaker 1: is Bloomberg and it's now six so seven on Wall Street.
Speaker 1: We're at fifty eight degrees in Central Park dealing with
Speaker 1: an accident on westbound Route three. We'll get the details
Speaker 1: coming up in traffic first, Michael bar with more on
Speaker 1: what's going on in New York and around the world. Michael,
Speaker 1: thank you very much. Nathan. It would be the largest
Speaker 1: rent increase for New York City apartments in about ten years.
Speaker 1: A preliminary vote by the New York City Rent Guidelines
Speaker 1: Board last night I proposed the hike for rent stabilized apartments.
Speaker 1: It proposed a rent increase of two to four percent
Speaker 1: for one year leases and a four to six percent
Speaker 1: increase for two year leases. A final vote is expected
Speaker 1: at the end of May. Connecticut Democratic govern Or Ned
Speaker 1: Lamot signed a law designed to protect people who provide
Speaker 1: an abortion and are then sued in another state. You know,
Speaker 1: Twitter message Lamont says it was a bill he was
Speaker 1: eager to sign. I think you've heard a lot about
Speaker 1: what's coming out of the Supreme Court and a preliminary
Speaker 1: ruling that looks like they may be on the edge
Speaker 1: of a ending a woman's right to choose and ending
Speaker 1: a Roe v. Wade. That's not going to happen the
Speaker 1: state of Connecticut, not as long as I'm here. No
Speaker 1: politicians are going to get between you and your doctor.
Speaker 1: You make the choice. The law is set to take
Speaker 1: effect on July first. Meanwhile, Governor Kathy Hokel, who says
Speaker 1: anyone who needs access to care will be welcome with
Speaker 1: open arms in New York. I want to have this
Speaker 1: enshrined not just in state law, but in our constitution,
Speaker 1: just in case there ever is a situation we lose
Speaker 1: the House, to lose the Senate. Heaven for Midnight. Dun't
Speaker 1: believe that will happen. Governor Hokel told ABC the reality
Speaker 1: rolling Back wrote is just like a punch in the nose.
Speaker 1: US Chief Justice John Roberts called the League of a
Speaker 1: draft out of the Supreme Court abortion opinion this week
Speaker 1: absolutely appalling. Roberts told the Judicial Conference in Atlanta, the
Speaker 1: person responsible would be foolish to think the disclosure will
Speaker 1: affect the court's handling of the case. Some Ukrainian refugees
Speaker 1: are making a new life in Rochester, New York, even
Speaker 1: behind their homeland torn apart by the Russian invasion. Ghana.
Speaker 1: India says she never wanted to leave it so nice.
Speaker 1: I never want to go out for my content because
Speaker 1: I love the family. Will be meeting with their host
Speaker 1: family later today. Karine Jean Pierre will replace Jen Sakis
Speaker 1: White House Press Secretary. Jean Pilierre is the first black
Speaker 1: person and openly LGBTQ person to hold the position. It
Speaker 1: is an honor and a privilege to be behind this podium.
Speaker 1: In about a week or so, when Jen is ready,
Speaker 1: Zaki leaves on thirteenth Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more than journalist analysts more than twenty countries. Michael Barr,
Speaker 1: this is Bloomberg. Nathan, Thanks Michael. Up to six ten
Speaker 1: on Wall Street Time for the Bloomberg Sports Up Daviews,
Speaker 1: John Stashower, Thanks Nathan. Rangers and Penguins back at the
Speaker 1: Garden after that marathon three overtime game one, like that one,
Speaker 1: the Rangers scored first. Unlike that when they kept the lead,
Speaker 1: beat Pittsburgh five to two, five different goal scorers. Andrew
Speaker 1: cop Off at Artemi Panairin passed, Ryan Strom deflected in
Speaker 1: Adam Fox shot on the power play. Chris Crowder deflected
Speaker 1: in the Frank Patronto shotting in the third period. Pannerin
Speaker 1: and Patronto scored themselves for Igor Cisterkin. After seventy nine
Speaker 1: stains the other night, he had thirty nine more. Game
Speaker 1: three tomorrow night in Pittsburgh also wins for Florida, Dallas
Speaker 1: and Colorado. The Mets in Philadelphia and a lot of
Speaker 1: their fans, no doubt, turned this game off. The Phillies
Speaker 1: landed seventh and nothing seven one in the ninth inning.
Speaker 1: Here is Marte now dim Mo good lead at first.
Speaker 1: The pitch swing on a high fly ball left center field,
Speaker 1: pretty deep. It's got some legs back near to all.
Speaker 1: Its good for Ahad taking a tape the lead, Nebo
Speaker 1: a round third coming home pa score standing double for
Speaker 1: Farte eight because seven they are holy Stikey's but Mets
Speaker 1: with a seven run night tenday, that's sent us. It's
Speaker 1: back part w CVS seven runs on eight hits. Mark
Speaker 1: they had two and then they scored four times with
Speaker 1: two outs. Third time in Mets history they've won a
Speaker 1: game one trailing by six. In the ninth NBA playoffs
Speaker 1: resumed tonight, Philadelphia trails Miami to nothing. They're open to
Speaker 1: get Joe l m bed at a concussion protocol. Phoenix
Speaker 1: up to not being Game three in Dallas. The Celtics
Speaker 1: hope to have Marcus Smart back for their Game three
Speaker 1: tomorrow and Milwaukee. Memphis will be without a second leading
Speaker 1: score tomorrow at Golden State. Dylan Brooks suspended for his
Speaker 1: hit of Gary Payton, John Stashward, Bloomberg Sports, Nay, Holy Shnikeys,
Speaker 1: thank you, John sp features down twelve points, staff features
Speaker 1: down fifty six standstack futures down fifty five ten, Your
Speaker 1: treasury down twelve thirty seconds. The yield now three point
Speaker 1: zero eight per cent. You're listening to Bloomberg Daybreak Bloomberg
Speaker 1: eleven three oh weather rain and low sixties today, rain
Speaker 1: and low fifties tomorrow, more showers for Mother's Day, upper
Speaker 1: fifties by Sunday. Right now fifty eight in Central Park Markets,
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot com, the Bloomberg Business App, and at Bloomberg
Speaker 1: Quick Tape. This is a Bloomberg Business flash, and I'm
Speaker 1: Karen Moscow stocks are sliding with bonds, a dollar rising,
Speaker 1: as inflation rising, burrowing costs, and China's COVID lockdown's depressed sentiment.
Speaker 1: European stocks extending their losses this morning. They're falling more
Speaker 1: than one percent and are set for the worst weekly
Speaker 1: drop in two months. U S stock indise futures lower.
Speaker 1: It's after the SMP five dred fold more than three
Speaker 1: and a half percent yesterday in the nasdack lost five percent.
Speaker 1: Let we check the markets every fifteen minutes throughout the
Speaker 1: trading day. On Bloomberg s and P futures down fifteen
Speaker 1: points this morning, down features down seventy nine and nowsday
Speaker 1: features down seventy two. The decks in Germany's down one
Speaker 1: point two percent. Ten year treasury down eleven thirty seconds.
Speaker 1: They yield is at three point eight percent. They yield
Speaker 1: on the two year two point seven three percent. Nine
Speaker 1: max screwed oil up to in a quarter percent of
Speaker 1: two dollars forty three cents at a hundred ten dollars
Speaker 1: seventy one cents a barrel call, make school the third
Speaker 1: of a percent, or five dollars eighty cents at eighteen
Speaker 1: eighty one fifty announced the euro one point oh five
Speaker 1: eight one against the dollar, British pound one point to
Speaker 1: three three nine and the end at one thirty point
Speaker 1: three six and Bitcoin this morning down six tenths percent
Speaker 1: at thirty six thousand, two hundred thirty dollars. I mean,
Speaker 1: of course, watching for the April jobs report at an
Speaker 1: eight thirty Wall Street time. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Training
Speaker 1: and fighters battling Russian forces in the tunnels beneath Maryuple's
Speaker 1: steel plant are refusing to surve render. The battle is
Speaker 1: unfolding in the last Ukrainian stronghold of the Strategic Ports city.
Speaker 1: The FDA has limited use of the Johnson and Johnson
Speaker 1: COVID vaccine to adults. It comes after an investigation of
Speaker 1: rare and potentially deadly blood clots related to the J
Speaker 1: and J single shot vaccine. NHL playoff the Rangers beat
Speaker 1: the Penguins five two to even their series. At a
Speaker 1: game of peace. The Capitols lost to the Panthers that series.
Speaker 1: Now even at a game of peace. In baseball, the
Speaker 1: Mets one, scoring seven runds of the ninth against the
Speaker 1: Phillies to win it. The Orioles won, the Red Sox,
Speaker 1: Nationals and Giants lost. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quittake, powered by more
Speaker 1: than twenty seven hundred journalists and analysts more than twenty countries.
Speaker 1: Michael Bart, this is Bloomberg. Nathan alright, Michael, thank you.
Speaker 1: We're coming up to six twenty on Wall Street line
Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak.
Speaker 1: Let's get more on these markets now. Bloomberg Television anchor
Speaker 1: and markets correspondent Danny Burger joins me as we get
Speaker 1: ready to close out a week of extreme volatility. Danny,
Speaker 1: good morning. It has been watching the bouncing ball, and
Speaker 1: the bounces have been insane this week. You know. The
Speaker 1: crazy thing is is that actually if you look on
Speaker 1: a week basis, just you know, this week up to today,
Speaker 1: the NASA is actually flat. So if you were an
Speaker 1: alien just dropped down onto the earth, you wouldn't think
Speaker 1: anything happened. But I mean, certainly it did not trade
Speaker 1: flat most days. No, Yeah, I mean something happened. Obviously
Speaker 1: we had we had the FED taking seventy five basis
Speaker 1: points off the table. I mean, now with the action
Speaker 1: we're seeing this morning, it looks like the surge following
Speaker 1: that was a sugar rush. Yeah. I mean I I
Speaker 1: kind of had this feeling that yesterday a lot of
Speaker 1: the moves had to do with positioning, because you had
Speaker 1: hedge funds going in to the FED meeting, very short treasuries,
Speaker 1: and I think a lot of them were short treasuries
Speaker 1: with this idea that they talk out seventy five basis points,
Speaker 1: so they don't talk about seventy five basis points, so
Speaker 1: you get the short covering of bonds as allows them
Speaker 1: to rally. That makes equity sentiment a little bit better.
Speaker 1: But I think when you step back and you say, okay,
Speaker 1: he said they weren't actively discussing seventy five basis point hikes,
Speaker 1: I mean they still hiked fifty basis points. They're still
Speaker 1: expected to hike two hundred more basis points. I mean
Speaker 1: the expectation is still there for them to be hawkish.
Speaker 1: So I think, save for the sort of positioning reaction,
Speaker 1: I would say what we're saw yesterday was perhaps more
Speaker 1: what you'd spect in line with the Fed that decided
Speaker 1: to hike fifty basis points and talked about coming QT. Yeah,
Speaker 1: potentially coming a day later. But you know, a lot
Speaker 1: of the talk going into the FED meeting, Danny, as
Speaker 1: you know, was that multiple fifty basis point rate hikes
Speaker 1: were getting baked in. Is there further baking in to go?
Speaker 1: I I think that it's not even just baking in
Speaker 1: more rate hikes, because perhaps that is all baked in,
Speaker 1: which would mean that the two year yield has peaked.
Speaker 1: We saw that in the market action yesterday. Even as
Speaker 1: yields are moving higher, the two year yield wasn't doing
Speaker 1: too much. So I think perhaps just in terms of
Speaker 1: rate rises, perhaps that's baked in. But there's more to
Speaker 1: this talkish picture. Again, there's a balance sheet runoff. That's
Speaker 1: something you'd see on the long end, and indeed we
Speaker 1: saw long end yields go up. And there's this question
Speaker 1: that Andrew Bailey said yesterday the BOE Governor Bank of
Speaker 1: uh England governor saying that, look, there is this concern
Speaker 1: about the economy. The economy might slow. It's kind of
Speaker 1: the quiet thing that not many central bankers are saying
Speaker 1: out loud. So you know, while they're on this project
Speaker 1: of dialing back and and easing, getting rid of the
Speaker 1: easing that they had done over the pandemic, I mean,
Speaker 1: there's a chance that hurts the economy and that's not
Speaker 1: good for risk assets. Yeah, certainly that was a sentiment
Speaker 1: we heard from Lisa Ange Saunders, from Charles Schwab that
Speaker 1: the market might not be fully pricing in the risk
Speaker 1: of recession at this point. We're speaking with Ben Laidler
Speaker 1: last hour. He's looking ahead to the jobs report later
Speaker 1: this morning, the piece the data coming out next week.
Speaker 1: Are we in line for more volatility on economic data?
Speaker 1: I think so. I I think honestly it's just going
Speaker 1: to be volatile from here. One. Liquidity is is pretty low,
Speaker 1: and I don't think we really have a great grasp
Speaker 1: of central banks right now. Economists have really struggled to
Speaker 1: get a lot of these data points right um. Too
Speaker 1: much criticism over the past two years, and if we
Speaker 1: can't really grasp what the common data is going to be.
Speaker 1: We're struggling to kind of understand how central banks are
Speaker 1: doing this, and I think we've gone into this period
Speaker 1: underestimating the power that the FED, that the b o E,
Speaker 1: that central banks around the world have in terms of
Speaker 1: moving these markets. So I think that's only going to
Speaker 1: continue as we get data releases. Bloomberg's Danny Burger on
Speaker 1: this flat market on a week basis. Danny, always great
Speaker 1: talking with you, Bloomberg television anchor and markets correspondent, Danny Burger,
Speaker 1: Thank you, Danny. This is the Big Take, the best
Speaker 1: of Boomberg's in depth, original reporting from around the globe.
Speaker 1: Really fast moving story that's caused a lot of outrage
Speaker 1: among investors. This is so fascinating. The market shutdown in
Speaker 1: a way it's never done before. That's gonna have consequences
Speaker 1: for years to come. The Big Take on bloom Bird
Speaker 1: Radio to the six and Wall Street now in our
Speaker 1: Big Take story this morning is about the right hand
Speaker 1: man next to the world's richest man, the fixer who
Speaker 1: handles Elon Musk's fortune and in many cases, his dirty work.
Speaker 1: Bloomberg's Ben Stubbles is with us now from more on
Speaker 1: this Big Take story, Ben, good morning, tell us more
Speaker 1: about Jared Birchall and I think, yeah, Jared Burchell, he's
Speaker 1: an interesting individual. He's forty seven year old man foreman,
Speaker 1: Morgan Stanley banker. And yeah, as you say, he deals
Speaker 1: with everything the personal affairs of the world's richest man
Speaker 1: that that has ranged from it as he sort of
Speaker 1: hinted too earlier, hiring a private investigator over the lawsuit
Speaker 1: that even must faced and one I have to say,
Speaker 1: and recording it, which is scuba expert, a pedo guy.
Speaker 1: And it also includes the dealing with Wall Street Banks,
Speaker 1: for example, over the Twitter takeover and actually helping to
Speaker 1: actually get extra individual investors such as Oracle Corps Larry
Speaker 1: Ellison to help finance that deal as well. So you
Speaker 1: can sort of see the scope of the affairs. That's
Speaker 1: this thing. The thing. I'm Karen Moscow along with in
Speaker 1: Nathan Hagar, and we're just about three hours away from
Speaker 1: the open of US trading. Time for the five things
Speaker 1: you need to notice start your day. Brought to you
Speaker 1: by Interactive Brokers. Interactive Brokers charges Martin loan rates from
Speaker 1: zero point a three percent to one point three percent
Speaker 1: rates subject to change. Learn more at ib k R
Speaker 1: dot Com slash compare. The first futures are lower after
Speaker 1: back to back days of volatile trading. The market surged
Speaker 1: Wednesday and then came yesterday sell off. The NASDAG dropped
Speaker 1: five percent and the S and P slipped more than
Speaker 1: three and a half percent. And investors today will react
Speaker 1: to the April jobs report media and forecasts for a
Speaker 1: gain of three hundred eighty thousand non jobs in a
Speaker 1: three and a half percent unemployment rate. Megan Green is
Speaker 1: Global chief Economist at Kroll Or. Importantly, unemployment is probably
Speaker 1: going to take down even further, and crucially, I think
Speaker 1: the participation rate will take up as workers jumped back
Speaker 1: into the labor force and Kroll Global Chief Economist Megan
Speaker 1: Green spoke with Joe Matthew on Bloomberg Sound on Catch
Speaker 1: the show weekdays at five pm Easter and on Bloomberg
Speaker 1: Radio and stick with the Bloomberg throughout the morning for
Speaker 1: complete analysis of the job's your poor to Labor. Secretary
Speaker 1: Marty Walsh joins us at five am Wall Street Time
Speaker 1: on both Bloomberg Radio and television. All right, Karen turned
Speaker 1: into the White House. Now. President Biden met with a
Speaker 1: group of labor organizers yesterday, including a former Amazon worker
Speaker 1: who led a drive for a union on Staten Island.
Speaker 1: That worker, Christian Smalls, spoke about the meeting with Bloomberg's
Speaker 1: Emily Chang. Know, it was great to see that he
Speaker 1: still recognizes that, you know, we have to have some
Speaker 1: regulations with the company as far as union. Former Amazon
Speaker 1: employee Christian Small spoke with Emily Chang on blue Burg Technology.
Speaker 1: That program airs weekdays at five pm Eastern on Bloomberg Television.
Speaker 1: You can also listen to it as a podcast on Apple,
Speaker 1: Spotify and other platforms. Well. Nathan, Politics also and focus overseas.
Speaker 1: First Lady Joe Biden. We'll meet with US troops and
Speaker 1: displaced Ukrainian families in Eastern Europe this weekend. In Ukraine,
Speaker 1: civilian evacuations our plan from Aria Pole as hold out
Speaker 1: fighters battle Russian forces and the steel plant. And in
Speaker 1: COVID Newscaren it's another blow to Johnson and Johnson's vaccine.
Speaker 1: US regulators are placing limits on the shot. Bloomberg's Ranita
Speaker 1: Young joins US Live with more. Good morning, Rnita, Good
Speaker 1: morning Nathan. The FDA is limiting the use of the
Speaker 1: J and J shot two adults for whom other vaccines
Speaker 1: are not medically appropriate or accessible. The agency is also
Speaker 1: allowing those who would otherwise not get immunized against the
Speaker 1: virus to take J and J's single shot vaccine. The
Speaker 1: FDA made the decision after investigating reported cases of blood
Speaker 1: clots and people who have taken the shot live in
Speaker 1: New York. I'm Ranita Young, Bloomberg Breaker nat to thank you.
Speaker 1: That's the five things you need to know to start
Speaker 1: your day, brought to you by Interactive Brokers and futures
Speaker 1: this morning are lower SNP futures down about seven points down,
Speaker 1: futures down nineteen, nasday futures down thirties six, the ten
Speaker 1: year treasury down ten thirty seconds. He'll three point oh
Speaker 1: seven per cent, and they yield on the two year
Speaker 1: two point seven two percent. And non nex scrude oil
Speaker 1: is up two point two percent of two dollars thirty
Speaker 1: eight cents and a hundred ten dollars sixty five cents
Speaker 1: of barrel. Straight ahead, your latest local headlines, plus a
Speaker 1: check of sports, and this is Bloomberg. Thanks Karen sixty
Speaker 1: three on Wall Street. Rain in fifty eight degrees in
Speaker 1: Central Park and westbound Route three is still closed by
Speaker 1: the meadow Lands for an accident investigation. Details coming up
Speaker 1: in Traffic. First Michael bar with more on what's going
Speaker 1: on in New York and around the world. Good morning, Michael,
Speaker 1: Good morning Nathan. It would be the largest rent increase
Speaker 1: for New York City apartments in about ten years. A
Speaker 1: preliminary vote by the New York City Rent Guidelines Board
Speaker 1: last night proposed the hike for rent stabilized departments. It
Speaker 1: proposed a rent increase of two to four for one
Speaker 1: year leases and a four to six percent increase for
Speaker 1: two year leases. Neither tenants nor landlords were satisfied with
Speaker 1: the outcome. Tenants say it's too much, landlords say the
Speaker 1: hike is not enough. The final vote is expected at
Speaker 1: the end of May. Connecticut Democratic Governor Need Lamont signed
Speaker 1: a law designed to protect people who provide an abortion
Speaker 1: and are then sued in another state you know twitter message.
Speaker 1: Lamont says it was a bill he was eager to sign.
Speaker 1: I think you've heard a lot about what's coming out
Speaker 1: of the Supreme Court and a preliminary ruling that looks
Speaker 1: like they may be on the edge of a ending
Speaker 1: a woman's right to choose and ending a Roe v. Wade.
Speaker 1: That's not going to happen the state of Connecticut. Not
Speaker 1: as long as I'm here, though. Politicians are going to
Speaker 1: get between you and your doctor. You make the choice.
Speaker 1: The law is set to take effect on July one.
Speaker 1: The measure was prompted by a law in Texas that
Speaker 1: allows private citizens to take civil act and to enforce
Speaker 1: its ban on abortion. Meanwhile, New York Governor Kathy Hokel,
Speaker 1: who says anyone who needs access to care will be
Speaker 1: welcomed with open arms in the state. The reality is
Speaker 1: just like a punch in the nose. I mean, people
Speaker 1: are saying this could actually happen in a matter of weeks,
Speaker 1: so it was an extraordinary development. I think this is
Speaker 1: his turned the political world upside down. Governor Hokel spoke
Speaker 1: to ABC. Karine Jean Pierre will replace Jen Saki as
Speaker 1: White House Press Secretary, becoming both the first black person
Speaker 1: and openly LGBTQ person to hold the position. Saki spoke
Speaker 1: about her principal deputy, I'm just so grateful to have
Speaker 1: had Karin by my side um for this over the
Speaker 1: last fifteen months, and I just can't wait to see
Speaker 1: her shine at the podium. Jen Psaki's last day is
Speaker 1: May thirteenth. It is home, sweet home for the four
Speaker 1: astronauts who spent six months orbiting the International Space Station.
Speaker 1: It's been an absolute honor to support you on your mission.
Speaker 1: A durance crew and thanks for flying space Sex. He's up. Please.
Speaker 1: The crew aboard the SpaceX Dragon capsules splashed down in
Speaker 1: the Gulf of Mexico just off the Florida coast shortly
Speaker 1: after midnight Eastern time. Global Needs twenty four hours a
Speaker 1: day on here and on Bloomberg Quick Take, powered by
Speaker 1: more than hundred journalists analysts more than a hundred twenty countries.
Speaker 1: Michael Barr, this is Bloomberg, Nathan. Yeah, that's some Kevin
Speaker 1: to move freely about in. Thank you, Michael. Just about
Speaker 1: six thirty six on Wall Street. Here's John Stashower the
Speaker 1: Bloomberg Sports that day, Nathan. The Rangers were already having
Speaker 1: a strong season when they acquired two players just before
Speaker 1: the trade deadline, and last night Andrew Cops scored the
Speaker 1: first goal in Frank Petronto the last one in between
Speaker 1: goals by Ryan Strom, Chris Crier and r Timmy Panaer
Speaker 1: and Rangers came back from that triple overtime loss in
Speaker 1: Game one, they beat the Penguins at the Garden five
Speaker 1: to two. This game three periods, not six, so Igors
Speaker 1: Sterkin made thirty nine seves, not seventy nine like you
Speaker 1: had the other night. Game three Tomorrow night in Pittsburgh,
Speaker 1: Colorado one in overtime for a two nothing lead. On Nashville,
Speaker 1: Florida beat Washington, Dallas out out Calgary. Both those series
Speaker 1: were tied at one. The last eight hundred and fifty
Speaker 1: seven times in a Major League team went to the
Speaker 1: ninth and a trailing by six runs or more. Their
Speaker 1: record oh and eight hundred and fifty seven. But the
Speaker 1: Mets did something they've only done twice before, never since
Speaker 1: nineteen ninety seven. They went to the night trail in
Speaker 1: the Phillies seven to one, and they scored seven runs
Speaker 1: on eight hits and one eight to seven. Francisco Lindor
Speaker 1: got things going with the two run home had great
Speaker 1: team win, extremely special. UM the way everybody believed in
Speaker 1: each other, UM pushed each other, counting on each other
Speaker 1: special for sure. UM. You know, UM wins like that
Speaker 1: they got up throughout the course of the year. And
Speaker 1: they're they're huge, and the US for a world club.
Speaker 1: Brandon nimbos two run double tied the game, and then
Speaker 1: Nimbo scored the go ahead run on Starley and Markte's
Speaker 1: double his second hit of the and and Phil's manager
Speaker 1: Joe Girardi said afterwards, this is as tough as a get. Yankees,
Speaker 1: winners of eleven last twelve back home tonight to left
Speaker 1: Garrett Cole on the mount against Texas. NBA playoffs resumed
Speaker 1: tonight with a prayer of Game three's Miami and Phoenix
Speaker 1: going for three nothing weeks. John stars were Bloomberg Sports
Speaker 1: Nathan all Right, John, Thanks six thirty seven on Wall Street.
Speaker 1: Time to take a look at stock some of the
Speaker 1: names moving in the pre market. Bloomberg Radio and TV
Speaker 1: Markets correspondent Kritty Gupta is with us this morning after
Speaker 1: a very volatile week. Creaty, I see you're watching PC
Speaker 1: stocks after a big move out of China. Yeah. I mean, listen,
Speaker 1: we were talking about tech stocks all week long. But
Speaker 1: this is interesting. This isn't necessarily a sentiment move or
Speaker 1: a fundamentally driven move. This is something coming out of China,
Speaker 1: and it's kind of I wouldn't want to say, unsettling.
Speaker 1: But it's interesting about how the read through into American
Speaker 1: computer stocks or how clear the read through is, I
Speaker 1: should say, Nathan, let me just talk about what what
Speaker 1: I'm trying to say here. China ordering government and state
Speaker 1: firms to dump foreign PCs. So the computer systems that
Speaker 1: are sold by a lot of these mega tech names
Speaker 1: think Dell, think HP, think Microsoft, that are essentially bought
Speaker 1: by the Chinese government, I should say, governments around the world.
Speaker 1: Of you're using a computer, it's probably made by an
Speaker 1: American company. Well, China is saying they want to get
Speaker 1: rid of them completely, any foreign PCs. It's essentially the
Speaker 1: biggest move or the most aggressive effort so far to
Speaker 1: eradicate key overseas technology, really talking about national security as
Speaker 1: kind of the reason. But when you do that, they're
Speaker 1: looking to replace eventually at least fifty million PCs on
Speaker 1: a central government level alone. Nathan. This doesn't even take
Speaker 1: into account the regional governments and other computer systems. So
Speaker 1: this is a pretty big move fifty million PCs. So
Speaker 1: you are seeing a read through into some of those
Speaker 1: American names that are going to get hit by this.
Speaker 1: HP for example, down eight tenths of one percent. The
Speaker 1: tickers hp Q, DELL, d E, l L down two
Speaker 1: point six percent. Also seeing a move with some semis
Speaker 1: names like a m D Advanced micro Devices down six
Speaker 1: tenths of one percent. Adobe also on that, given that
Speaker 1: as a software company that exists on a lot of
Speaker 1: these PCs down up just shrive two percent. A d
Speaker 1: b E is your ticker there, and Microsoft as well,
Speaker 1: m s FT down about half a percent. Nathan, of
Speaker 1: course you've been talking a lot about the stock plummet
Speaker 1: over the last day or so, but oil is of
Speaker 1: surging this morning. What's that doing for oil names? Well,
Speaker 1: it's surging too. And you know it's interesting. A lot
Speaker 1: of people are saying, if you're gonna hop out of stocks,
Speaker 1: you're gonna hop out of bond, where are you going
Speaker 1: to put your money? Is it just cash in this
Speaker 1: inflationary environment? And the answer is commodities. Of course, that
Speaker 1: demand continues, so you do see higher oil prices. They
Speaker 1: believe one O nine on w T I the last
Speaker 1: time I checked, and that is having a read through
Speaker 1: into some of the biggest oil canaves, I should say
Speaker 1: Occidental for example, O x Y is your taker one
Speaker 1: and a half percent x on mobile as well. X
Speaker 1: O M is your taker up eight tenths of one percent.
Speaker 1: And remember when you see a massive stock sell off,
Speaker 1: energy tempts to be uh the least affected, at least
Speaker 1: in the last couple of months, seen as an inflation hedge.
Speaker 1: And like you said, Nathan, following those commodity prices, Yeah,
Speaker 1: is if one O nine word enough right now in
Speaker 1: West Texas intermediate creedy, it's one ten fifty nine for
Speaker 1: a barrel on the NIMEX Greedy, goopt to Bloomberg Radio
Speaker 1: on TV Markets correspondent getting ready for another very busy
Speaker 1: trading day. And as we look at stocks as a
Speaker 1: whole ahead of the Friday morning open and ahead of
Speaker 1: the jobs report, futures moving lower. We have SMP futures
Speaker 1: down ten points, STAFF futures down fifty two, and NASTACK
Speaker 1: futures are lower by fifty points. Tend your treasury down
Speaker 1: not in thirty seconds the yield three point zero seven percent.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather. Occasional rain
Speaker 1: with eyes in the low sixties today. The rain will
Speaker 1: continue tomorrow with highs and the low fifties and showers
Speaker 1: possible from others day as well, with a high in
Speaker 1: the upper fifties right now fifty eight in Central Park Markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg
Speaker 1: Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow.
Speaker 1: This update is brought to you by b and Y
Speaker 1: Maillen's Pershing Learned. Why the world's most sophisticated wealth management
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Speaker 1: Com and Futures are following to get to the first
Speaker 1: word breaking newsdesk for today's morning call, and here's Bill Maloney. Bill,
Speaker 1: good morning, and good morning, Karen. Modest losses in the
Speaker 1: US futures after yesterday's plunge without futures down fifty nine
Speaker 1: points has to be dropped. Thirteen deck features declined by
Speaker 1: sixty one the US ten year old at three point
Speaker 1: eight percent, Gold is up six Oil trading higher, but
Speaker 1: Bitcoin is down by point seven percent. Shanghai dropped two
Speaker 1: point two percent overnight, while eup markets are in the
Speaker 1: red led by one percent losses in France. Back in
Speaker 1: the US on the Economic Frinday thirty, the U S
Speaker 1: April jobs report, and after the bellast night shake Shack
Speaker 1: you want Calms sales A missed estimates regarding earnings. This morning,
Speaker 1: Signa raised its outlook Indian News. A person familiar said
Speaker 1: that Peloton is seeking to sell a stake of and
Speaker 1: wrapping things up. eBay was cut to hold at c
Speaker 1: f R A at they cut the neutral at Iowa
Speaker 1: and Wayfair cut to neutral over Red Piper Live from
Speaker 1: the first of Breaking News desk. Boo maloney care all right, Bill,
Speaker 1: thank you, and to hear live breaking news over here
Speaker 1: Bloomberg type squawk on your terminal SCU A w u
Speaker 1: K and that's a Bloomberg business flash. Now here's Michael
Speaker 1: Barrow with more on what's going on around the world. Michael, Karen,
Speaker 1: thank you very much. The nine Supreme Court justices have
Speaker 1: been given extra security as general threats against them have increased.
Speaker 1: It comes just a few days after Politico reported elite
Speaker 1: draft opinion showing the Conservative majority is likely going to
Speaker 1: overturn Reale v Wade. The office of Ukraine's President says
Speaker 1: about five hundred civilians from Maryupol were evacuated in the
Speaker 1: most recent operations organized by the u N and Red Cross.
Speaker 1: In the NHL Playoffs, the Rangers beat the Penguins five
Speaker 1: two to even their series at the Game of Peace.
Speaker 1: The Capital's lost to the Panthers. That series also even
Speaker 1: at a Game of peace. In baseball, the met Scenarios one,
Speaker 1: the Red Sox, Nationals and Giants lost. Global news twenty
Speaker 1: four hours a day on it or and on Bloomberg
Speaker 1: Quicktake power by more than twenty seven under journalist and
Speaker 1: analysts in more than one twenty countries. I'm Michael bar
Speaker 1: this is Bloomberg caeron a right, Michael, thank you. At
Speaker 1: A six forty nine on Wall Street. We turned to
Speaker 1: news and science and technology now at the Bloomberg n
Speaker 1: j i T STEM Report, brought to you by New
Speaker 1: Jersey Institute of Technology. N j i T is dedicated
Speaker 1: to bolstering support for female and minority students pursuing careers
Speaker 1: and high paying STEM industries. Learned more at n j
Speaker 1: i T DOT E d U and now Here's what's
Speaker 1: making news and science, Technology, engineering, and math. U S
Speaker 1: regulators are strictly limiting who can receive Johnson and Johnson's
Speaker 1: COVID nineteen vaccine to do a rare but serious risk
Speaker 1: of blood cloths. The Food and Drug Administration says the
Speaker 1: shots should only be given to adults who cannot receive
Speaker 1: a different vaccine or specifically request to J and J's vaccine.
Speaker 1: The decision is the latest restriction to hit the company's vaccine.
Speaker 1: In December, the Centers for Disease Control and Prevention recommended
Speaker 1: using the Maderna and Visor shots over J and J's
Speaker 1: because of its safety issues. Space x brought four astronauts
Speaker 1: home with a midnight splashdown in the Gulf of Mexico,
Speaker 1: capping the busiest month yet for Elon Musk's taxi service.
Speaker 1: Musk Company has now launched twenty six people into orbit
Speaker 1: in less than two years since it started ferrying astronauts
Speaker 1: for NASA. Eight of those twenty six were space tourists.
Speaker 1: And China has ordered government agencies and state run companies
Speaker 1: to get rid of their foreign made personal computers. It's
Speaker 1: one of Beijing's most aggressive efforts yet to eradicate overseas technology.
Speaker 1: The move could result in fifty million FOURIGN PCs being
Speaker 1: dumped that's a Bloomberg and j I t Stem report. Nathan, Okay, Karen,
Speaker 1: thank you. We are live from the Bloomberg Interactive Brokers studios,
Speaker 1: where it's coming up to six fifty one on Wall
Speaker 1: Street Time now to check what's going on in VC.
Speaker 1: Some of the tough stories in our nation's capital include
Speaker 1: First Lady Jill Biden heading to Europe in a show
Speaker 1: of support for Ukraine, President Biden heading to Ohio to
Speaker 1: tout a new industrial renewal plan, and Jen Saki handing
Speaker 1: the podium to a history making new White House Press secretary. Next,
Speaker 1: also making news Democrats and Republicans jockeying for position six
Speaker 1: months before the mid term election. Let's get more now
Speaker 1: from Bloomberg Government reporter Emily Wilkins with us from the
Speaker 1: nation's capital. Emily, good morning. Let's start off with what
Speaker 1: Democrats are doing. It seems like they're really trying to
Speaker 1: jockey around the abortion issue. Now, Yes, Nathan, I mean
Speaker 1: this is something that Democrats see as a really a
Speaker 1: way to uh motivate their base to get out and
Speaker 1: to turn out in November. And you can really see
Speaker 1: that in the lawmakers who are running in some of
Speaker 1: these most competitive races. Um, you've already seen fundraisers go out,
Speaker 1: emails go out to supporters are really sort of talking
Speaker 1: about this leaked row decision and calling on people to
Speaker 1: to turn out and to support. And I think the
Speaker 1: big question, Nathan, of course, is what role this is
Speaker 1: going to play overall. Uh, certainly there are a number
Speaker 1: of Americans who very much care about this issue. Um,
Speaker 1: if they think will polling shows that about seventy that
Speaker 1: there should be uh some or anne or only a
Speaker 1: few limitations when it comes to abortion access. They do
Speaker 1: support abortion rights. But at the same point, there are
Speaker 1: other bigger pressing issues like inflation, like gas prices, like
Speaker 1: the state of the economy, and so those all might
Speaker 1: factor into this election more so than what we see
Speaker 1: with this road decision. It will be interesting to see
Speaker 1: over the next six months how this issue potentially factors
Speaker 1: into the control the fight for control over Congress. But
Speaker 1: in the meantime, of course, Republicans are preparing for the
Speaker 1: possibility that they could reclaim the majority. And I know
Speaker 1: you've been looking into how that could potentially set up
Speaker 1: a leadership fight. Yes, I mean that's something that's certainly
Speaker 1: been talked about. Uh. If you remember a number of
Speaker 1: years ago, Kevin McCarthy was in line to get the
Speaker 1: speakership and then he was blocked in part by the
Speaker 1: House Freedom Caucus, that group of very conservative, sort of
Speaker 1: furthest right on on the ideological scale, members of Congress
Speaker 1: um and that group is bulking up again ahead of
Speaker 1: the mid terms. They've endorsed a number of candidates, their
Speaker 1: members are criss crossing the country fundraising. But we actually
Speaker 1: had one of the Freedom Caucus founding members, Congressman Jim
Speaker 1: Jordan's um on Bloomberg's sound on I think, just a
Speaker 1: couple of weeks ago, and he said that he is
Speaker 1: supporting McCarthy for speaker at this time should Republicans win
Speaker 1: the majority. And when I spoke with him for the
Speaker 1: article that is out today, he mentioned that he felt
Speaker 1: like the Republican conference is more unified than they've been
Speaker 1: in the past, and by that he means that they've
Speaker 1: become more conservative, sort of more in the mold of
Speaker 1: this far further to the right Freedom Caucus. And I
Speaker 1: think that's definitely sort of signals the dynamics of what
Speaker 1: we're going to be having with a potential Republican House
Speaker 1: majority in uh, next year. UM. There's certainly more centrists
Speaker 1: and more moderate members of the Republican Conference, but I
Speaker 1: think a lot of members out there, you know, that
Speaker 1: they have shifted further to the right as they've seen
Speaker 1: Republican voters go ahead and also shift in that direction.
Speaker 1: All right, let's shift to what's happening at the White House. UH.
Speaker 1: Starting off with UH. First, Lady Joe Biden leaving the
Speaker 1: White House this morning on a mission to Eastern Europe. Yes,
Speaker 1: Joe Biden is going to be visiting uh F NATO
Speaker 1: allies in the region. She's going to be meeting with
Speaker 1: refugees from Ukraine. She's not going to be going to
Speaker 1: Ukraine herself. But this really continues a slate of high
Speaker 1: profile visits that we've seen from administration officials UH to
Speaker 1: UH to that region. Remember you saw a Secretary of State,
Speaker 1: Secretary of Defense go ahead and visit Ukraine as well
Speaker 1: as you saw speaking Nancy Pelosi in a House delegation
Speaker 1: there last week. UM, And so this is kind of
Speaker 1: just continuing the pattern. We still don't know at this
Speaker 1: point if President Biden might wind up making a trip. UH.
Speaker 1: You know, with Pelosi's trip that that wasn't announced until
Speaker 1: she was already over there for safety concerns. UM, and
Speaker 1: we're gonna be paying, of course attention. The fact that
Speaker 1: Jill Biden is over there, is Jill Biden is over there,
Speaker 1: is just another signal that the administration realizes the importance
Speaker 1: of actually sending its officials to the region and having
Speaker 1: people on the ground, uh, even if it's not in Ukraine,
Speaker 1: just in surrounding countries, speaking to refugees and bringing attention
Speaker 1: to this crisis. Well, in the White House travel schedule today,
Speaker 1: of course, Emily, President Biden is going to Ohio with
Speaker 1: a focus on the economy. Yes, so it's gonna travel
Speaker 1: to Ohio to day to launch what's being dubbed as
Speaker 1: an industrial Renewal path and this is going to be
Speaker 1: aimed at increasing uh, the use of three D printing
Speaker 1: and other technologies for suppliers. And you've got companies like
Speaker 1: Lacky Martin and Honeywell who are really backing this push.
Speaker 1: All should also note that Ohio is a political battleground state.
Speaker 1: This November, They've got a competitive UH Senate race that's
Speaker 1: going to be between Democrat Tim Ryan, his only a
Speaker 1: house member, as well as Trump backed j. D Vance.
Speaker 1: He's a he's a marine. He's most famous for being
Speaker 1: the author of Hillbilly Elegy, and he won a very
Speaker 1: competitive primary just this past week, um over seven Republicans
Speaker 1: who looked to be in the lead until they failed
Speaker 1: to get Trump's endorsement. Just thirty seconds left here, Emily,
Speaker 1: But big change coming in the White House press room,
Speaker 1: a historic one. Yes, we're going to be having the
Speaker 1: first black, first LGBT press secretary. Uh Jen Saki is
Speaker 1: stepping down from her role. We knew that she was
Speaker 1: going to be doing this, and Katherine Jean Pierre, who
Speaker 1: has already done a number of briefings already sort of
Speaker 1: with the Biden press team, is going to be stepping
Speaker 1: up to that role, doing the daily briefings and really
Speaker 1: sort of being the face of the White House. Bloomberg
Speaker 1: Government reporter Emily Wilkins with us from Washington, d C,
Speaker 1: the face of Bloomberg Washington coverage. Thanks for this, Emily,
Speaker 1: good to talking with you. As always. You and read
Speaker 1: more at Bloomberg dot com or on the Bloomberg terminal.
Speaker 1: Listen to Bloomberg Radio in Washington at Bloomberg and one
Speaker 1: oh five point seven FM h D two and stick
Speaker 1: around for much more coverage from Washington, d C. We
Speaker 1: have the jobs report for April coming out at eight
Speaker 1: thirty Wall Street time. We'll be getting a live reaction
Speaker 1: from Labor Secretary Marty Wall. She'll be speaking with us
Speaker 1: on Bloomberg Radio and television. That's coming up at five
Speaker 1: Wall Street time, just about an hour after the release
Speaker 1: of April jobs. Right now, SMP futures are down sixteen points,
Speaker 1: now futures down eighty five, NASDAG futures lower by seventy
Speaker 1: five points. Bloomberg Surveillance is next the Tom Keene, Jonathan Farrow,
Speaker 1: and Lisa Abramowitz, Karen Mosstown. I'm Nathan Hagar. This is
Speaker 1: Bloomberg