1 00:00:02,360 --> 00:00:05,600 Speaker 1: Live from the Bloomberg Interactive Berger Studios. This is is Bloomberg 2 00:00:05,680 --> 00:00:09,400 Speaker 1: day Break for Wednesday, October two. Coming up this hour, 3 00:00:09,600 --> 00:00:11,800 Speaker 1: The S and P five looks to make it three 4 00:00:11,920 --> 00:00:15,160 Speaker 1: straight winning sessions to start the week. Netflix share sewer 5 00:00:15,280 --> 00:00:18,200 Speaker 1: as user growth signals the worst is over. In the UK, 6 00:00:18,440 --> 00:00:22,320 Speaker 1: Inflation surches to double digits, and President vit Him plans 7 00:00:22,320 --> 00:00:25,639 Speaker 1: to announce he's tapping into the strategic oil reserves. The 8 00:00:25,720 --> 00:00:29,120 Speaker 1: latest polls show New York's governor's race hast tightened, plus 9 00:00:29,240 --> 00:00:31,880 Speaker 1: Georgia voters turned out in record numbers on the first 10 00:00:31,920 --> 00:00:35,040 Speaker 1: day of early ballots. I'm Michael Blair. More Ahead, I'm 11 00:00:35,080 --> 00:00:37,600 Speaker 1: John stash Our and sports. The Yankees beat the Guardians, 12 00:00:37,600 --> 00:00:39,760 Speaker 1: They start the Alcs tonight in Youth to the Philly 13 00:00:39,760 --> 00:00:44,760 Speaker 1: shut Out. The Padres wins with the Devil's Island. That's 14 00:00:44,760 --> 00:00:48,120 Speaker 1: Alls Trading ahead on Bloomberg day Break on Bloomberg, he 15 00:00:48,200 --> 00:00:51,960 Speaker 1: Liven three on New York, Bloomberg one, Washington, d C, 16 00:00:52,440 --> 00:00:56,000 Speaker 1: Bloomberg one oh six one, Boston Bloomberg nine sixties and 17 00:00:56,120 --> 00:01:00,200 Speaker 1: Francisco Sirius Exam one nineteen and around the world Old 18 00:01:00,200 --> 00:01:03,840 Speaker 1: on Bloomberg Radio dot Com and via the Bloomberg Business. 19 00:01:07,240 --> 00:01:10,560 Speaker 1: Good morning. I'm Nathan Hagrin and I'm Karen Moscow in 20 00:01:10,720 --> 00:01:13,399 Speaker 1: US stock index futures around the rise this morning. We're 21 00:01:13,400 --> 00:01:15,000 Speaker 1: coming up to six out one on Wall Street, and 22 00:01:15,000 --> 00:01:17,600 Speaker 1: we check the markets every fifteen minutes throughout the trading day. 23 00:01:17,680 --> 00:01:21,240 Speaker 1: On Bloomberg, SMP future is up seventeen points down futures 24 00:01:21,280 --> 00:01:24,319 Speaker 1: of eighty nastack futures of eighty one. The decks in 25 00:01:24,400 --> 00:01:27,480 Speaker 1: Germany as of a quarter percent, ten year treasury down 26 00:01:27,480 --> 00:01:30,039 Speaker 1: twelve thirty seconds, held four point oh five percent. They 27 00:01:30,120 --> 00:01:32,880 Speaker 1: yield on the two year four point four seven percent, 28 00:01:33,240 --> 00:01:35,880 Speaker 1: and the euro point nine eight one eight against the 29 00:01:35,880 --> 00:01:38,880 Speaker 1: dollar British pound one point one to seven nine. Nathan 30 00:01:39,040 --> 00:01:41,600 Speaker 1: Karen the SMP five hundreds coming off back to back 31 00:01:41,600 --> 00:01:44,240 Speaker 1: wins to start the week. The index is up three 32 00:01:44,280 --> 00:01:47,960 Speaker 1: point eight percent in just two days. However, Max Kentner, 33 00:01:48,040 --> 00:01:51,680 Speaker 1: chief Multi Assets strategist at HSBC, thinks stocks will remain 34 00:01:51,720 --> 00:01:54,880 Speaker 1: under pressure and the FED will not change course. But 35 00:01:54,960 --> 00:01:57,639 Speaker 1: the point for me is that the FED is really 36 00:01:57,680 --> 00:02:00,560 Speaker 1: only going to pivot. In my view way, things are 37 00:02:00,560 --> 00:02:03,720 Speaker 1: going to go horribly wrong, not just wrong, but really 38 00:02:03,760 --> 00:02:06,880 Speaker 1: and I have to emphasize that horribly wrong, right, So 39 00:02:07,040 --> 00:02:09,520 Speaker 1: it will not be sufficient. If we see you one 40 00:02:09,639 --> 00:02:13,040 Speaker 1: to three months off a bit worse than economic data, right, 41 00:02:13,080 --> 00:02:15,399 Speaker 1: and oh maybe we're going to go into refesssion now, 42 00:02:15,760 --> 00:02:19,000 Speaker 1: that will not be sufficient. HSBCS Max Kenner says he 43 00:02:19,040 --> 00:02:21,840 Speaker 1: would fade this rally in stocks well. The rise in 44 00:02:21,880 --> 00:02:24,400 Speaker 1: equities this week Nathan has been fueled by a solid 45 00:02:24,440 --> 00:02:27,800 Speaker 1: starter earning season, and it continued after the bell with Netflix, 46 00:02:27,880 --> 00:02:30,480 Speaker 1: the streaming leader added it better than expected two point 47 00:02:30,520 --> 00:02:33,840 Speaker 1: four million customers in the third quarter. Read Hastings is 48 00:02:33,919 --> 00:02:37,160 Speaker 1: co founder and sherman of Netflix. Well, thank god we're 49 00:02:37,200 --> 00:02:41,560 Speaker 1: done with shrinking quarters, so a big feeling of we're 50 00:02:41,600 --> 00:02:44,239 Speaker 1: back to the positivity. We still got f X, so 51 00:02:44,400 --> 00:02:47,080 Speaker 1: that's a huge hit. Uh, you know, as we've explained, 52 00:02:47,160 --> 00:02:51,120 Speaker 1: so that's not going to go away. But other than that, 53 00:02:51,480 --> 00:02:54,240 Speaker 1: all the stars are lining up very well for us. 54 00:02:54,560 --> 00:02:57,440 Speaker 1: Netflix chairman Read Hastings says the company expect to add 55 00:02:57,440 --> 00:03:00,440 Speaker 1: another four and a half million global subscribers this period, 56 00:03:00,520 --> 00:03:03,520 Speaker 1: despite headwinds from foreign exchange. Looks like at some other 57 00:03:03,520 --> 00:03:06,000 Speaker 1: stocks on the move following earnings. Karen shares of United 58 00:03:06,040 --> 00:03:08,400 Speaker 1: Airlines are up more than seven percent this morning. The 59 00:03:08,400 --> 00:03:11,120 Speaker 1: airline seas profit well above estimates in the final quarter 60 00:03:11,120 --> 00:03:13,200 Speaker 1: of the year, and that's being fueled by a rebound 61 00:03:13,280 --> 00:03:16,440 Speaker 1: in corporate travel and leisure trips. Shares of Adelbi are 62 00:03:16,520 --> 00:03:18,920 Speaker 1: up more than two percent. The maker of creative design 63 00:03:18,960 --> 00:03:22,480 Speaker 1: software reiterated its forecasts for the current quarter. That's relieving 64 00:03:22,480 --> 00:03:26,080 Speaker 1: fearce economic uncertainty would hinder demand. Well up next Nathan, 65 00:03:26,080 --> 00:03:28,880 Speaker 1: the earnings continue with results from twenty companies of the 66 00:03:29,040 --> 00:03:31,160 Speaker 1: S and P five hundred. The biggest name on today's 67 00:03:31,160 --> 00:03:33,400 Speaker 1: list is Tesla. We get a preview of those numbers 68 00:03:33,400 --> 00:03:36,840 Speaker 1: from Bloomberg's Jeff Billinger. Shares of the electric car maker 69 00:03:36,920 --> 00:03:40,119 Speaker 1: have been under pressure ever since the company reported third 70 00:03:40,240 --> 00:03:44,200 Speaker 1: quarter delivery figures that fell short of forecast. Today's report 71 00:03:44,240 --> 00:03:48,200 Speaker 1: will get close scrutiny. Investors will look beyond sales, earnings 72 00:03:48,200 --> 00:03:51,840 Speaker 1: and profit margins. Bullish fourth quarter delivery guidance would be 73 00:03:51,920 --> 00:03:56,880 Speaker 1: especially welcome. Bloomberg Intelligence says the plunge in Tesla's stock 74 00:03:57,160 --> 00:03:59,320 Speaker 1: could make this a good time for the company to 75 00:03:59,520 --> 00:04:04,200 Speaker 1: initiate eight capital returns without hurting its balance sheet. Jeff Bollinger, 76 00:04:04,360 --> 00:04:07,360 Speaker 1: Bloomberg Daybreak. Thanks Jeff. Turning to the economy now. Do 77 00:04:07,480 --> 00:04:09,560 Speaker 1: not look for a pause in rate hikes from the FED. 78 00:04:09,640 --> 00:04:12,560 Speaker 1: That's according to Minneapolis FED President Neil cash Cary. He 79 00:04:12,640 --> 00:04:16,440 Speaker 1: says the central bank must continue tightening as inflation remains hot. 80 00:04:16,560 --> 00:04:20,200 Speaker 1: If we don't see progress in underlying inflation or chord inflation, 81 00:04:20,960 --> 00:04:24,120 Speaker 1: I don't see why I would advocate stopping at four 82 00:04:24,120 --> 00:04:26,040 Speaker 1: and a half for four or seven five or something 83 00:04:26,040 --> 00:04:28,800 Speaker 1: like that, Minneapolis, said President Neil cash car He says 84 00:04:28,800 --> 00:04:31,400 Speaker 1: he sees interest rates reaching the mid four's early next year. 85 00:04:31,640 --> 00:04:33,680 Speaker 1: Stay tuned for more from the FED when we speak 86 00:04:33,720 --> 00:04:37,080 Speaker 1: live with St. Louis President Jim Bullard. Catch that interview 87 00:04:37,120 --> 00:04:41,279 Speaker 1: today at three thirty pm Ball Street Time on Bloomberg Radio. Meantime, Nathan, 88 00:04:41,279 --> 00:04:43,119 Speaker 1: the FED will hand out a grade on the health 89 00:04:43,160 --> 00:04:45,400 Speaker 1: of the US economy today with the release of its 90 00:04:45,440 --> 00:04:47,960 Speaker 1: regional Beije Book, and we get more from Bloomberg's of 91 00:04:47,960 --> 00:04:50,599 Speaker 1: Any down to You Dice. Today's beach Book, based on 92 00:04:50,720 --> 00:04:54,039 Speaker 1: anecdotal reports in the FITS twelve district banks, will help 93 00:04:54,080 --> 00:04:58,400 Speaker 1: set the stage for November's policy meeting. Bloomberg Economics notes 94 00:04:58,480 --> 00:05:01,960 Speaker 1: the prior bache book and early September indicated little change, 95 00:05:02,400 --> 00:05:06,200 Speaker 1: unbalanced the most lackluster, showing you a pandemic recovery but 96 00:05:06,320 --> 00:05:09,760 Speaker 1: not yet alarming. The next policy session is set for 97 00:05:09,839 --> 00:05:13,760 Speaker 1: November one and second, and economists anticipated another interest rate 98 00:05:13,839 --> 00:05:18,240 Speaker 1: hike aimed at containing inflation. Beneat Judas Bloomberg Daybreak, then 99 00:05:18,240 --> 00:05:20,400 Speaker 1: he thanks for also seeing inflation soar in the UK. 100 00:05:20,680 --> 00:05:22,880 Speaker 1: For more on today's red hot price reading, let's go 101 00:05:22,920 --> 00:05:26,080 Speaker 1: to London and check in with Bloomberg's James Wilcock. Good morning, James, 102 00:05:26,080 --> 00:05:29,360 Speaker 1: Good morning, Nathan and Karen's soaring inflation. Indeed, price rises 103 00:05:29,400 --> 00:05:32,039 Speaker 1: hit a four decade high of ten point one percent 104 00:05:32,120 --> 00:05:35,320 Speaker 1: year on year through September. That's slightly above what economists forecast. 105 00:05:35,680 --> 00:05:37,480 Speaker 1: It's a call to arms for the Bank of England 106 00:05:37,480 --> 00:05:40,239 Speaker 1: after the central bank has found itself distracted by chaos 107 00:05:40,240 --> 00:05:43,599 Speaker 1: in the UK bond market. September's inflation figure is also 108 00:05:43,800 --> 00:05:47,240 Speaker 1: used as the baseline to increase state welfare payments and pensions, 109 00:05:47,360 --> 00:05:49,680 Speaker 1: so that increase puts more pressure on the UK government's 110 00:05:49,680 --> 00:05:52,279 Speaker 1: fiscal policy. As promise of this, trust tries to bounce 111 00:05:52,279 --> 00:05:55,360 Speaker 1: the books in London. James Wilcock, Bling Bird Daybreak, James, 112 00:05:55,440 --> 00:05:57,920 Speaker 1: think so back you're in the US. The Biden administration 113 00:05:58,040 --> 00:06:00,800 Speaker 1: is making more moves to lower gas price is Later today, 114 00:06:00,839 --> 00:06:03,800 Speaker 1: the President announces another fifteen million barrels coming out of 115 00:06:03,800 --> 00:06:07,320 Speaker 1: the Strategic Petroleum Reserve. But still Bob McNally, founder and 116 00:06:07,360 --> 00:06:10,080 Speaker 1: president of Rapid and Energy, says it might not be 117 00:06:10,240 --> 00:06:13,880 Speaker 1: enough going against OPEC plus with the sprs like going 118 00:06:13,920 --> 00:06:16,760 Speaker 1: into a fight with you know, the guys that with 119 00:06:16,800 --> 00:06:19,600 Speaker 1: a square guns, right. It's a finite resource. You get 120 00:06:19,640 --> 00:06:21,440 Speaker 1: to use it once, and I think this is going 121 00:06:21,480 --> 00:06:24,320 Speaker 1: to make the coming boom cycle in oil prices even boom. Here, 122 00:06:24,640 --> 00:06:27,560 Speaker 1: Rapid and Energy President Rob Bob McNally spoke with our 123 00:06:27,600 --> 00:06:30,719 Speaker 1: Washington correspondent Joe Matthew on Bloomberg Sound on Catch the 124 00:06:30,720 --> 00:06:33,919 Speaker 1: program weekdays at five pm Eastern on Bloomberg Radio and 125 00:06:34,000 --> 00:06:36,440 Speaker 1: checking oil prices right now, nine x screwed oil is 126 00:06:36,520 --> 00:06:38,760 Speaker 1: up one point four percent of a dollar thirteen at 127 00:06:38,760 --> 00:06:41,800 Speaker 1: eighty three dollars cents of barrel Brent is up nine 128 00:06:41,800 --> 00:06:45,480 Speaker 1: ten percent at ninety eight seven cents. Finally, Karen criticism 129 00:06:45,480 --> 00:06:48,080 Speaker 1: of the Pimco Total Return Bond Fund from the man 130 00:06:48,160 --> 00:06:50,840 Speaker 1: who created it. We're talking about Bill Gross, who was 131 00:06:50,920 --> 00:06:54,800 Speaker 1: ousted from Pimco. Gross says many of the funds bearing 132 00:06:54,800 --> 00:06:56,640 Speaker 1: the name are failing to live up to their mission 133 00:06:56,680 --> 00:06:59,320 Speaker 1: after suffering heavy losses this year. He says, instead of 134 00:06:59,360 --> 00:07:01,640 Speaker 1: helping to cush in the market downturn, they've clung to 135 00:07:01,680 --> 00:07:06,200 Speaker 1: their benchmarks too closely, essentially becoming quasi index tracking strategies. 136 00:07:06,680 --> 00:07:10,160 Speaker 1: Futures are gaining some footing here. SMP futures are up 137 00:07:10,160 --> 00:07:13,520 Speaker 1: sixteen points, STOUT futures up eighty, NASTAC futures are higher 138 00:07:13,560 --> 00:07:16,760 Speaker 1: by seventy seven points. Straight ahead your latest local headlines 139 00:07:16,800 --> 00:07:23,680 Speaker 1: and a check of sports. This is Bloomberg. It's six 140 00:07:23,760 --> 00:07:26,160 Speaker 1: o seven on Wall Street, forty two degrees in Central Parks. 141 00:07:26,240 --> 00:07:29,080 Speaker 1: Still got that crashed southbound of Jersey Turnpike, Chuck Lan's 142 00:07:29,120 --> 00:07:31,360 Speaker 1: exit seven. Michael bars here with more on what's going 143 00:07:31,360 --> 00:07:33,360 Speaker 1: on in New York and around the world. Michael, thank 144 00:07:33,400 --> 00:07:35,480 Speaker 1: you very much. Nathan. The midterms of just a few 145 00:07:35,520 --> 00:07:39,560 Speaker 1: weeks away, and now another race that Democrats once thought 146 00:07:39,720 --> 00:07:43,120 Speaker 1: was a slam dunk could be in play. In New York. 147 00:07:43,160 --> 00:07:47,040 Speaker 1: Republican le Zelden is in a statistical dead heat with 148 00:07:47,200 --> 00:07:51,440 Speaker 1: Democratic Governor Kathy Hokel. More from Bloomberg's Denise Pello Greeni, 149 00:07:51,680 --> 00:07:53,760 Speaker 1: Michael it Kind, of all depends on which poll you 150 00:07:53,760 --> 00:07:56,000 Speaker 1: want to believe at this point, because the new Quinnipiac 151 00:07:56,040 --> 00:07:59,720 Speaker 1: Pole shows hopelessly narrowing to just four percentage points, her 152 00:07:59,760 --> 00:08:03,680 Speaker 1: Ken pay noes as this Quinnipiac pole undercounted likely Democratic voters. 153 00:08:03,840 --> 00:08:07,640 Speaker 1: Former President Trump recently endorsed Zelden, and the Quinnipiac Pole 154 00:08:07,720 --> 00:08:11,520 Speaker 1: shows Zelden has a solid lead among independents. The Long 155 00:08:11,560 --> 00:08:14,640 Speaker 1: Island congressman also has gained in a real clear average 156 00:08:14,640 --> 00:08:17,080 Speaker 1: of polls, but Hocal still leads by close to ten 157 00:08:17,080 --> 00:08:19,960 Speaker 1: percentage points in a five thirty eight pole average, and 158 00:08:20,040 --> 00:08:22,920 Speaker 1: recent Sienna and Marist College poles show her ahead by 159 00:08:22,960 --> 00:08:26,560 Speaker 1: even more. Michael Bloomberg's De Niece polla Greeni Georgia with 160 00:08:26,640 --> 00:08:29,520 Speaker 1: several high profile races, has set a record on the 161 00:08:29,560 --> 00:08:32,679 Speaker 1: first day of early in person voting. More than a 162 00:08:32,760 --> 00:08:36,040 Speaker 1: hundred thirty three thousand votes were cast Monday, and eight 163 00:08:36,240 --> 00:08:39,120 Speaker 1: seven percent increase from the first day of early in 164 00:08:39,200 --> 00:08:43,280 Speaker 1: person voting in twenty eighteen. Tens intended to provide temporary 165 00:08:43,320 --> 00:08:46,480 Speaker 1: shelter to migrants, open today in New York City, the 166 00:08:46,520 --> 00:08:49,240 Speaker 1: first of a series of mad Shift centers to house 167 00:08:49,320 --> 00:08:53,360 Speaker 1: and influx of Tens of thousands of Central and South Americans. 168 00:08:53,640 --> 00:08:57,120 Speaker 1: The new relief center, located on Randall's Island, is intended 169 00:08:57,160 --> 00:09:01,559 Speaker 1: to house and provide food, water, medical care, and COVID tests. 170 00:09:01,760 --> 00:09:05,079 Speaker 1: When migrants first arrived in New York. Zach Iskoll is 171 00:09:05,120 --> 00:09:10,560 Speaker 1: the Emergency Management Commissioner. But people get off the bus 172 00:09:10,600 --> 00:09:13,960 Speaker 1: report at thirty but very limited amount of time about 173 00:09:14,000 --> 00:09:17,120 Speaker 1: forty five minutes to the hour where we are figuring 174 00:09:17,120 --> 00:09:20,200 Speaker 1: out what people's immediate medical leaves are. There will be 175 00:09:20,240 --> 00:09:23,480 Speaker 1: a ten pm curfew. Former President Trump is scheduled to 176 00:09:23,520 --> 00:09:26,360 Speaker 1: sit for a deposition and answer questions under oath from 177 00:09:26,360 --> 00:09:30,400 Speaker 1: attorneys for E. Gene Carroll, former columnist at L magazine, 178 00:09:30,800 --> 00:09:33,760 Speaker 1: Carol su Trump for defaming her when he denied her 179 00:09:33,840 --> 00:09:36,719 Speaker 1: rape claim from the ninet nineties. Global News twenty four 180 00:09:36,760 --> 00:09:39,840 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 181 00:09:39,880 --> 00:09:42,079 Speaker 1: by more than seven hundred journalists analysts more than a 182 00:09:42,120 --> 00:09:44,600 Speaker 1: hundred twenty countries. I'm MICHAELA bar This is Bloomberg, Nathan. 183 00:09:44,720 --> 00:09:51,480 Speaker 1: Thanks Michael six o nine on Wall Street time for 184 00:09:51,520 --> 00:09:53,320 Speaker 1: the Bloomberg Sports that they brought to you by Tri 185 00:09:53,480 --> 00:09:56,800 Speaker 1: State Outie. Here's John Stasha Nathan. The Decisive Game five 186 00:09:56,840 --> 00:09:58,680 Speaker 1: of the A L d S raindown Monday night at 187 00:09:58,679 --> 00:10:02,360 Speaker 1: the Stadium played yesterday after Dude and decided very early on. 188 00:10:02,440 --> 00:10:06,119 Speaker 1: The Guardians made a somewhat surprising decision to start Aaron Savali. 189 00:10:06,200 --> 00:10:08,760 Speaker 1: Yankees had teed off on him twice in the regular season. 190 00:10:08,760 --> 00:10:11,480 Speaker 1: He faced only five batters, got only one out, gave 191 00:10:11,559 --> 00:10:14,120 Speaker 1: up a John Carlos Stanton three run homer. Yanks were 192 00:10:14,120 --> 00:10:16,280 Speaker 1: on their way to a five to one win over Cleveland. 193 00:10:16,280 --> 00:10:18,800 Speaker 1: Aaron Judge also homer, and the Yanks decision to starting 194 00:10:18,920 --> 00:10:21,920 Speaker 1: Esther Cortez on three days rest. That worked well, so 195 00:10:21,960 --> 00:10:23,920 Speaker 1: the Yanks able to come back to the two games 196 00:10:23,920 --> 00:10:27,040 Speaker 1: to one deficit. And now it's onto Houston with Aaron 197 00:10:27,080 --> 00:10:30,320 Speaker 1: Boone's team playing Game one of the ALCS tonight. The 198 00:10:30,440 --> 00:10:34,120 Speaker 1: challenges we're facing a great team, you know. Uh, as 199 00:10:34,120 --> 00:10:37,360 Speaker 1: far as the quick turnaround, we'll be fine. I mean, 200 00:10:37,360 --> 00:10:41,440 Speaker 1: that's that's baseball. We do that all the time. You know, 201 00:10:41,480 --> 00:10:44,800 Speaker 1: we'll walk in there with some confidence. Um, we know, 202 00:10:45,080 --> 00:10:47,360 Speaker 1: we know they're a great team and rested and ready, 203 00:10:47,400 --> 00:10:50,600 Speaker 1: and um we look forward to the challenge. Three times 204 00:10:50,600 --> 00:10:53,559 Speaker 1: the Astros have ended the Yankee season two thousand fifteen 205 00:10:53,559 --> 00:10:56,000 Speaker 1: wild Card game at in the Alcs in both two 206 00:10:56,000 --> 00:10:59,800 Speaker 1: thousand seventeen and the Yante nineteen. Yanks start Jamison tyone tonight. 207 00:10:59,800 --> 00:11:02,880 Speaker 1: I'll the Astros justin Verlander, game one of the NLCS 208 00:11:02,960 --> 00:11:06,040 Speaker 1: and San Diego. Fewest hits ever in a postseason game. 209 00:11:06,120 --> 00:11:08,360 Speaker 1: The Philly has had three, but two were solo Homer's 210 00:11:08,360 --> 00:11:11,120 Speaker 1: padres that only one hit. The Phils want tune up 211 00:11:11,120 --> 00:11:13,120 Speaker 1: there then now six and one in the postseason. Game 212 00:11:13,200 --> 00:11:16,400 Speaker 1: two is today. NBA season underway home wins by Boston 213 00:11:16,400 --> 00:11:18,400 Speaker 1: and Golden State. Nick's open up tonight in Memphis, the 214 00:11:18,480 --> 00:11:21,320 Speaker 1: Nets home for New Orleans. Devils and Islanders both one 215 00:11:21,400 --> 00:11:24,240 Speaker 1: at home. New Jersey's first win was four two over Anaheim. 216 00:11:24,280 --> 00:11:28,439 Speaker 1: The Aisles beat still winless San Jose by John Stansailor 217 00:11:28,520 --> 00:11:32,200 Speaker 1: Bloomberg Sports Loop Okay, John, thanks SMP futures right now 218 00:11:32,320 --> 00:11:35,040 Speaker 1: up sixteen points. Stown futures up a D two Dance 219 00:11:35,080 --> 00:11:39,000 Speaker 1: dec futures are higher by seventy seven points. Tenure treasury 220 00:11:39,040 --> 00:11:41,840 Speaker 1: is down thirteen thirty seconds. The yield four point zero 221 00:11:41,880 --> 00:11:44,240 Speaker 1: six percent held on the two year four point for seven. 222 00:11:44,559 --> 00:11:46,679 Speaker 1: NIMEX cruge moving higher as well, up one and a 223 00:11:46,720 --> 00:11:49,600 Speaker 1: half percent, up a dollar twenty at eighty four oh 224 00:11:49,600 --> 00:11:53,040 Speaker 1: two of barrel Netflix shares surging in the pre market 225 00:11:53,080 --> 00:11:56,640 Speaker 1: of thirteen and two thirds per cent on a subscriber 226 00:11:56,800 --> 00:11:59,800 Speaker 1: gain in the latest quarter. Talk about it next with 227 00:12:00,000 --> 00:12:07,840 Speaker 1: Bloomberg Quick Take correspondent Alex Web. This is Bloomberg. Bloomberg 228 00:12:07,840 --> 00:12:09,640 Speaker 1: Sports is brought to you by Autie. Don't let someone 229 00:12:09,640 --> 00:12:11,960 Speaker 1: else drive off in the outie model you've always wanted. 230 00:12:12,040 --> 00:12:14,439 Speaker 1: Visit your local tri state autie dealer to get behind 231 00:12:14,480 --> 00:12:16,920 Speaker 1: the wheel of yours today, or visit Outie Offers dot 232 00:12:16,920 --> 00:12:24,600 Speaker 1: com for more information, markets, headlines and breaking news twenty 233 00:12:24,600 --> 00:12:27,439 Speaker 1: four hours a day at Bloomberg dot com the Bloomberg 234 00:12:27,480 --> 00:12:30,400 Speaker 1: Business Out and at Bloomberg Quick Take, this is a 235 00:12:30,440 --> 00:12:39,520 Speaker 1: Bloomberg Business lash and I'm terrot Moscow. This update brought 236 00:12:39,559 --> 00:12:42,360 Speaker 1: to you by se I. Imagine your asset management firms 237 00:12:42,400 --> 00:12:45,800 Speaker 1: operational infrastructure is a competitive advantage. Let see I show 238 00:12:45,840 --> 00:12:48,480 Speaker 1: you how at se I C dot Com slash I 239 00:12:48,840 --> 00:12:51,560 Speaker 1: M s U s Dock index futures are rising as 240 00:12:51,600 --> 00:12:55,240 Speaker 1: investors wake concerns about scorching inflation and a looming recession 241 00:12:55,559 --> 00:12:58,320 Speaker 1: against a strong start to the earning season. The pound 242 00:12:58,360 --> 00:13:01,760 Speaker 1: falling after UK inflation roast faster than economists we're looking for. 243 00:13:02,000 --> 00:13:04,440 Speaker 1: We checked the markets every fifteen minutes throughout the trading 244 00:13:04,480 --> 00:13:06,960 Speaker 1: day on bloomberg S and P Future is up fourteen 245 00:13:07,000 --> 00:13:09,880 Speaker 1: points down Future is up sixty one Nasdack Future is 246 00:13:09,960 --> 00:13:12,600 Speaker 1: up seventy two. The decks in Germany's up two tenths 247 00:13:12,640 --> 00:13:15,800 Speaker 1: of a percent. Ten year treasury down thirty and thirty seconds. 248 00:13:15,800 --> 00:13:17,880 Speaker 1: He had four point oh six percent. They yield on 249 00:13:17,960 --> 00:13:20,880 Speaker 1: the two year four point four seven percent. Nine X 250 00:13:20,920 --> 00:13:22,920 Speaker 1: screwed oil is up one at a quarter percent of 251 00:13:22,960 --> 00:13:25,240 Speaker 1: a dollar three at eighty three dollars eighty five cents 252 00:13:25,240 --> 00:13:27,880 Speaker 1: of aarrol COMEXS goal down seven tenths per cent or 253 00:13:27,880 --> 00:13:30,959 Speaker 1: eleven dollars thirty cents at sixteen forty four fifty announce 254 00:13:31,360 --> 00:13:33,680 Speaker 1: The euro point nine eight one two against the dollar 255 00:13:33,720 --> 00:13:36,080 Speaker 1: British found one point one two seven five the end 256 00:13:36,120 --> 00:13:39,000 Speaker 1: one forty nine point four six and bitcoin is down 257 00:13:39,080 --> 00:13:41,920 Speaker 1: six tenths of u percent at nineteen thousand, two hundred 258 00:13:41,920 --> 00:13:44,960 Speaker 1: fifty dollars. That's a Bloomberg business flash. Now here's Muchael 259 00:13:44,960 --> 00:13:47,560 Speaker 1: Barr with more on what's going on around the world. Muchael, 260 00:13:48,080 --> 00:13:50,839 Speaker 1: Thank you very much, Karen, President Biden is opening the 261 00:13:50,920 --> 00:13:55,119 Speaker 1: oil spiket again. President Biden today will announce another strategic 262 00:13:55,160 --> 00:13:58,120 Speaker 1: oil reserve release design to help bring down the price 263 00:13:58,200 --> 00:14:01,760 Speaker 1: of gas. He could release an other fifteen million barrels 264 00:14:01,760 --> 00:14:06,240 Speaker 1: of oil. Ukraine's president says recent Russian air strikes destroyed 265 00:14:06,280 --> 00:14:09,920 Speaker 1: about a third of his country's power facilities, cutting access 266 00:14:09,920 --> 00:14:14,400 Speaker 1: to electricity and water for many as temperatures drop. In baseball, 267 00:14:14,440 --> 00:14:16,880 Speaker 1: the Yankees are getting ready to face the Astros. In 268 00:14:16,920 --> 00:14:20,240 Speaker 1: the a l CS, New York beat the Guardians five 269 00:14:20,320 --> 00:14:23,080 Speaker 1: one to advance. In Game one of the NLCS to 270 00:14:23,160 --> 00:14:26,080 Speaker 1: Philly shut out the Padres to zip. In the opening 271 00:14:26,160 --> 00:14:29,760 Speaker 1: night of the NBA, the Celtics and Warriors one. In hockey, 272 00:14:29,840 --> 00:14:33,480 Speaker 1: the Devils and Islanders won, the Bruins lost. Global news 273 00:14:33,480 --> 00:14:36,760 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 274 00:14:37,080 --> 00:14:40,120 Speaker 1: powered by more than twenty seven hundred journalists and analysts 275 00:14:40,160 --> 00:14:42,800 Speaker 1: more than a hundred twenty countries. I'm Michael Laren. This 276 00:14:42,960 --> 00:14:45,800 Speaker 1: is Bloomberg, Nathan. Thanks Michael. At six nineteen on Wall 277 00:14:45,840 --> 00:14:48,920 Speaker 1: Street Live from the Bloomberg Intracted Brokers studios. This is 278 00:14:49,040 --> 00:14:52,200 Speaker 1: Bloomberg Daybreak. We continue to watch shares of Netflix this morning, 279 00:14:52,240 --> 00:14:55,680 Speaker 1: they're up fourteen percent in the pre market after the 280 00:14:55,760 --> 00:15:00,880 Speaker 1: first subscriber growth number for the streaming giant this year. 281 00:15:01,240 --> 00:15:03,960 Speaker 1: Let's bring back Bloomberg Quick Take correspondent Alex Web for 282 00:15:04,000 --> 00:15:07,680 Speaker 1: more on the Netflix earnings. Two point four million news 283 00:15:07,680 --> 00:15:11,120 Speaker 1: subscribers in the third quarter. Alex, that's not as much 284 00:15:11,240 --> 00:15:15,680 Speaker 1: as Netflix used to enjoy. Is that a problem, Well, 285 00:15:15,720 --> 00:15:18,160 Speaker 1: it's not necessarily, it's there'sertainly a lot more than the 286 00:15:18,200 --> 00:15:21,440 Speaker 1: market was expecting. The you know, they've been anticipating just 287 00:15:21,480 --> 00:15:23,560 Speaker 1: a million subscribers, but yeah, you're quite right that a 288 00:15:23,640 --> 00:15:26,840 Speaker 1: year ago they were adding almost double that, and in 289 00:15:26,880 --> 00:15:29,720 Speaker 1: the December quarter, which is currently forecast to add four 290 00:15:29,760 --> 00:15:33,480 Speaker 1: and a half million subs, a year before it had 291 00:15:33,480 --> 00:15:36,320 Speaker 1: added close to ten million. But you know, it's partly 292 00:15:36,720 --> 00:15:39,720 Speaker 1: a function of how big Netflix already is it still 293 00:15:39,840 --> 00:15:43,720 Speaker 1: it has something like, you know, two million subscribers globally, 294 00:15:44,400 --> 00:15:46,720 Speaker 1: there are fewer new ones out there to find, and 295 00:15:46,760 --> 00:15:52,720 Speaker 1: of course, as as as a strings, household budgets get tightened, 296 00:15:53,040 --> 00:15:56,200 Speaker 1: as less money for the people are willing to spend, 297 00:15:57,120 --> 00:15:59,720 Speaker 1: and so I guess that sort of leans into the 298 00:15:59,760 --> 00:16:04,000 Speaker 1: whole for Netflix that providing this sort of lower price 299 00:16:04,120 --> 00:16:08,880 Speaker 1: point adds supported tier around six month could potentially bring 300 00:16:08,880 --> 00:16:13,520 Speaker 1: in some of those squeezed potential subscribers. Yeah, it sort 301 00:16:13,520 --> 00:16:16,520 Speaker 1: of solves two problems for them that ultimately, if you 302 00:16:16,560 --> 00:16:23,520 Speaker 1: are entirely dependent on subscribers paying subscribers, your own opportunities 303 00:16:23,520 --> 00:16:27,280 Speaker 1: for growth are adding more subscribers or charging the subscribers 304 00:16:27,280 --> 00:16:31,120 Speaker 1: you have more money. Now, this, they hope will add 305 00:16:31,160 --> 00:16:34,120 Speaker 1: more subscribers coming in at the lowest tier, and it 306 00:16:34,160 --> 00:16:36,960 Speaker 1: also might then commence others who are already at the 307 00:16:36,960 --> 00:16:38,760 Speaker 1: lowest tier that it's worth paying a little bit more 308 00:16:38,840 --> 00:16:43,800 Speaker 1: not to get ads. But it equally removes the cap 309 00:16:43,920 --> 00:16:46,120 Speaker 1: on their upside. If you look at a company like Facebook, 310 00:16:46,120 --> 00:16:50,920 Speaker 1: which is an advertising technology company, they have consistently succeeded 311 00:16:51,000 --> 00:16:54,840 Speaker 1: in increasing average revenue per user to extended In the US, 312 00:16:54,960 --> 00:16:58,920 Speaker 1: it's well above two hundred dollars per user per year. Now, 313 00:16:59,200 --> 00:17:01,960 Speaker 1: Netflix m i to only need be charging seven dollars 314 00:17:02,000 --> 00:17:07,480 Speaker 1: for the advertising funded tier, but Hulu makes six dollars 315 00:17:07,480 --> 00:17:09,760 Speaker 1: an additional six dollars fifty in ADS from each of 316 00:17:09,800 --> 00:17:12,320 Speaker 1: those users. If you can keep growing that number because 317 00:17:12,320 --> 00:17:16,199 Speaker 1: you've got a committed audience, Uh, that gives you a 318 00:17:16,280 --> 00:17:18,320 Speaker 1: good story to tell your investors in terms of what 319 00:17:18,359 --> 00:17:21,520 Speaker 1: your potential upside is. It's a pretty big sea change though, 320 00:17:21,560 --> 00:17:23,760 Speaker 1: for Netflix, isn't it. I Mean, they bragged for years 321 00:17:23,760 --> 00:17:25,720 Speaker 1: that they weren't going to go with ad support and 322 00:17:26,680 --> 00:17:29,240 Speaker 1: passwords sharing wasn't going to be an issue as well. 323 00:17:29,320 --> 00:17:31,479 Speaker 1: Now they're cracking down on that as well. I mean, 324 00:17:31,520 --> 00:17:34,000 Speaker 1: what other kinds of changes could we see from Netflix 325 00:17:34,000 --> 00:17:36,800 Speaker 1: to keep this growth story going. I mean, you're right, 326 00:17:36,920 --> 00:17:38,639 Speaker 1: is it is a colossal change. Part of the appeal 327 00:17:38,640 --> 00:17:41,960 Speaker 1: of Netflix for a long time was that, unlike traditional 328 00:17:42,080 --> 00:17:45,000 Speaker 1: linear TV, certainly in in large parts of the world, 329 00:17:45,119 --> 00:17:48,640 Speaker 1: there were no ads, and that's what drove Netflix's growth 330 00:17:48,640 --> 00:17:51,120 Speaker 1: for a long time. I think investors had sort of 331 00:17:51,160 --> 00:17:54,199 Speaker 1: thought that they were getting a high growth utility in 332 00:17:54,240 --> 00:17:59,000 Speaker 1: the sense that everybody who was going to stream TV 333 00:17:59,560 --> 00:18:02,320 Speaker 1: or stream video would pay for Netflix and that was 334 00:18:02,359 --> 00:18:04,200 Speaker 1: the base layer, and on top of that you would 335 00:18:04,200 --> 00:18:06,800 Speaker 1: then add things that attuned your interest at Disney Plus 336 00:18:07,119 --> 00:18:09,400 Speaker 1: or Discovery or whatever it might be. And what we've 337 00:18:09,400 --> 00:18:10,879 Speaker 1: started to see is that is not the case. The 338 00:18:10,960 --> 00:18:13,640 Speaker 1: Netflix is not the default, and then people just add more. 339 00:18:14,000 --> 00:18:17,320 Speaker 1: So um, in terms of further changes, look, I think 340 00:18:17,320 --> 00:18:21,680 Speaker 1: they're concentrating a lot on boosting their presence in geographies 341 00:18:21,680 --> 00:18:24,719 Speaker 1: where they're underpenetrated. If you look at countries like India, 342 00:18:24,760 --> 00:18:28,280 Speaker 1: where they have a basic tier which costs about a 343 00:18:28,359 --> 00:18:33,480 Speaker 1: dollar fifty a month um, that is a because you know, 344 00:18:33,520 --> 00:18:35,679 Speaker 1: there's a huge amount of crisis sensitivity in that market. 345 00:18:36,160 --> 00:18:38,440 Speaker 1: If you look at the company's average revenue pe user 346 00:18:38,520 --> 00:18:41,680 Speaker 1: in Asia, it is still around the ten dollar mark. 347 00:18:41,800 --> 00:18:43,800 Speaker 1: Now what that tells you is that they have very 348 00:18:43,840 --> 00:18:47,240 Speaker 1: few subscribers in India, right because if if the r 349 00:18:47,320 --> 00:18:49,199 Speaker 1: POO is that high, it means very few people are 350 00:18:49,200 --> 00:18:53,159 Speaker 1: coming in at the entry level subscription. So there is 351 00:18:53,200 --> 00:18:54,879 Speaker 1: a huge amount of scope to grow in some of 352 00:18:54,880 --> 00:18:57,119 Speaker 1: these massive markets. They've just got to find the shows, 353 00:18:57,119 --> 00:18:59,680 Speaker 1: and actually they will help them do so. It certainly 354 00:18:59,720 --> 00:19:02,199 Speaker 1: looks as though, at least for the moment, investors like 355 00:19:02,320 --> 00:19:04,440 Speaker 1: the story that Netflix is telling. As we're watching the 356 00:19:04,480 --> 00:19:06,760 Speaker 1: shares in the pre market and they are still moving 357 00:19:06,840 --> 00:19:11,280 Speaker 1: higher by nearly fourteen percent. Alex Webb as always great 358 00:19:11,320 --> 00:19:13,600 Speaker 1: to have you on with us once again. Alex Webb, 359 00:19:13,960 --> 00:19:17,600 Speaker 1: correspondent for Bloomberg Quick Take, whose follows all things tech 360 00:19:18,240 --> 00:19:21,920 Speaker 1: very closely. For us on our own streaming service, Looking 361 00:19:21,920 --> 00:19:25,280 Speaker 1: Ahead to the market open this morning. Futures are starting 362 00:19:25,280 --> 00:19:28,480 Speaker 1: to point a little higher now once again, after two 363 00:19:28,520 --> 00:19:32,720 Speaker 1: straight days of solid gains for the SMP. SMP futures 364 00:19:32,720 --> 00:19:35,679 Speaker 1: are up three tenths percent right now, up eleven points. 365 00:19:36,040 --> 00:19:39,400 Speaker 1: DAL futures up forty four NANSDAC futures are higher by 366 00:19:39,600 --> 00:19:43,600 Speaker 1: sixty five points. That's a gain of six tenths percent ten. 367 00:19:43,640 --> 00:19:46,720 Speaker 1: Your treasury is now down fourteen thirty seconds, yield four 368 00:19:46,760 --> 00:19:48,920 Speaker 1: point zero six percent yield on the two year four 369 00:19:48,960 --> 00:19:52,280 Speaker 1: point for eight. And I'm ex scruge moving higher as well, 370 00:19:52,359 --> 00:19:54,920 Speaker 1: up one point one percent of ninety three cents at 371 00:19:54,920 --> 00:19:59,479 Speaker 1: eighty three dollars seventy five cents a barrel. You're listening 372 00:19:59,520 --> 00:20:09,719 Speaker 1: to Blue Boomberg Daybreak Bloomberg eleven three oh weather, sunny, breezy, 373 00:20:09,800 --> 00:20:13,720 Speaker 1: mid fifties today, lots of sunshine, Tomorrow, upper fifties. We'll 374 00:20:13,720 --> 00:20:16,760 Speaker 1: get into the low sixties once again by Friday. Right 375 00:20:16,760 --> 00:20:23,600 Speaker 1: now forty two in Central Park, broadcasting live from the 376 00:20:23,720 --> 00:20:27,680 Speaker 1: Bloomberg Interactive Broker's studio in New York. Bloomberg e Living 377 00:20:27,720 --> 00:20:31,359 Speaker 1: Free on to Washington, d C. Bloomberg on to Boston. 378 00:20:31,520 --> 00:20:34,879 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg N 379 00:20:35,000 --> 00:20:38,240 Speaker 1: sixty to the country, Sirius XM Chado one nine and 380 00:20:38,320 --> 00:20:41,680 Speaker 1: around the globe, the Bloomberg Business app and Bloomberg Radio 381 00:20:41,800 --> 00:20:51,240 Speaker 1: dot com. This is Bloomberg Daybreak six thirty on Wall Street. 382 00:20:51,240 --> 00:20:54,200 Speaker 1: Good morning, I'm Nathan Hager and I'm Karen Moscow, and 383 00:20:54,240 --> 00:20:56,520 Speaker 1: we are just about three hours away from the open 384 00:20:56,520 --> 00:20:58,399 Speaker 1: of US trading. Time for the five things that you 385 00:20:58,480 --> 00:21:00,560 Speaker 1: need to notice start your day. Brown to you by 386 00:21:00,640 --> 00:21:03,920 Speaker 1: Interactive Brokers ibk R. Event Trader offers a new way 387 00:21:03,920 --> 00:21:06,960 Speaker 1: to trade futures. Use event contracts to trade your opinion 388 00:21:06,960 --> 00:21:09,760 Speaker 1: on yes or no questions and key CME futures markets. 389 00:21:10,040 --> 00:21:14,399 Speaker 1: Learn more at event trader dot Interactive Brokers dot com. First, 390 00:21:14,440 --> 00:21:17,000 Speaker 1: the S and P five has rallied two straight days 391 00:21:17,040 --> 00:21:19,439 Speaker 1: to start the week. So have we seen a bottom? 392 00:21:19,480 --> 00:21:23,679 Speaker 1: While the Our Shares chief investment strategist Eva Ato says no, 393 00:21:24,160 --> 00:21:27,760 Speaker 1: but rallies like this could continue through December. Hard to 394 00:21:27,840 --> 00:21:30,080 Speaker 1: time the bottom, but I would say we're closer to 395 00:21:30,160 --> 00:21:32,840 Speaker 1: it than not, and I expect to see the market 396 00:21:33,080 --> 00:21:36,000 Speaker 1: and the year higher. We might even see a Christmas 397 00:21:36,080 --> 00:21:40,160 Speaker 1: rally by then. We'll see the Fed getting inflation under control, 398 00:21:40,359 --> 00:21:43,880 Speaker 1: and we exped inflation to drop next year. Eva Atos, 399 00:21:43,920 --> 00:21:46,800 Speaker 1: with the our shares, expects tech and healthcare stocks to 400 00:21:46,920 --> 00:21:50,200 Speaker 1: bounce back as inflation cools. Now. The rising stocks Karen 401 00:21:50,240 --> 00:21:52,679 Speaker 1: has been fueled by a solid start to earning season. 402 00:21:52,720 --> 00:21:56,240 Speaker 1: It continued yesterday with Netflix adding a better than expected 403 00:21:56,320 --> 00:21:59,200 Speaker 1: two point four million customers in the third quarter. Gita 404 00:21:59,240 --> 00:22:03,479 Speaker 1: Ranga nathanvers Netflix for Bloomberg Intelligence, they're finally back to growth, 405 00:22:03,560 --> 00:22:06,760 Speaker 1: and their guidance right now again pretty much in line. 406 00:22:06,800 --> 00:22:09,520 Speaker 1: And what's really encouraging to me about that four Q 407 00:22:09,720 --> 00:22:12,600 Speaker 1: guidance is that they say that they've really not baked 408 00:22:12,640 --> 00:22:15,400 Speaker 1: in any of those add to your expectations, So there 409 00:22:15,560 --> 00:22:18,680 Speaker 1: is potentially a lot of upside to that guidance as well. 410 00:22:18,800 --> 00:22:21,760 Speaker 1: Peter ran And often with Bloomberg Intelligence, says Netflix is 411 00:22:21,800 --> 00:22:25,119 Speaker 1: set up for a strong fourth quarter. Other songs on 412 00:22:25,119 --> 00:22:28,199 Speaker 1: the move this morning include United Airlines shares are up 413 00:22:28,240 --> 00:22:30,760 Speaker 1: more than five percent, with the airline seeing fourth quarter 414 00:22:30,840 --> 00:22:33,679 Speaker 1: profit above estimate. Shares of Adobe or up two and 415 00:22:33,680 --> 00:22:37,159 Speaker 1: a half percent after the creative design software company reiterated 416 00:22:37,160 --> 00:22:40,159 Speaker 1: his forecast for the current quarter. Still, sticky inflation is 417 00:22:40,240 --> 00:22:43,320 Speaker 1: dampening sentiment Karen, Minneapolis, said President Neil cash car He 418 00:22:43,359 --> 00:22:45,920 Speaker 1: says he expects the Central Bank to continue hiking rates 419 00:22:45,960 --> 00:22:49,480 Speaker 1: as prices climb. The core services inflation, which is the 420 00:22:49,520 --> 00:22:52,960 Speaker 1: stickiest of all, keeps climbing, and we keep getting surprise 421 00:22:53,040 --> 00:22:55,400 Speaker 1: on the upside that core keeps going up and services 422 00:22:55,480 --> 00:22:58,560 Speaker 1: keeps going up. The problem for me with trying to say, hey, 423 00:22:58,560 --> 00:23:01,520 Speaker 1: it's time to pause is we're not even sure that 424 00:23:01,560 --> 00:23:05,040 Speaker 1: we've we've got raids high enough to push services inflation down. 425 00:23:05,160 --> 00:23:07,680 Speaker 1: Minneapolis President Neil cash car He says he sees interest 426 00:23:07,800 --> 00:23:10,200 Speaker 1: rates reaching the mid four's early next year. We hear 427 00:23:10,200 --> 00:23:12,720 Speaker 1: more from the FED Live St. Louis FED President Jim 428 00:23:12,760 --> 00:23:15,480 Speaker 1: Buller joins us this afternoon at three thirty pm Wall 429 00:23:15,520 --> 00:23:19,000 Speaker 1: Street Time on Bloomberg Radio and Nathan. Inflation is also 430 00:23:19,119 --> 00:23:21,920 Speaker 1: coming in hot in the UK. Consumer prices in Britain 431 00:23:22,040 --> 00:23:24,879 Speaker 1: rose ten point one percent last month. That was driven 432 00:23:24,920 --> 00:23:27,679 Speaker 1: by rising food prices. That's the five things that you 433 00:23:27,680 --> 00:23:29,680 Speaker 1: need to notice start your day. Brought to you by 434 00:23:29,800 --> 00:23:33,320 Speaker 1: Interactive Brokers, your latest local headlines straight ahead and this 435 00:23:33,440 --> 00:23:40,200 Speaker 1: is Bloomberg. Thanks. Hearing six three on Wall Street, forty 436 00:23:40,200 --> 00:23:43,320 Speaker 1: two degrees in Central Park to crash southbound New Jersey Turnpike. 437 00:23:43,320 --> 00:23:46,199 Speaker 1: Truck leans continues at exit seven, and Michael Barr is 438 00:23:46,240 --> 00:23:48,000 Speaker 1: here with more on what's going on in New York 439 00:23:48,040 --> 00:23:50,359 Speaker 1: and around the world. Michael, thank you very much, Nathan. 440 00:23:50,359 --> 00:23:53,159 Speaker 1: New York City officials saying that an emergency center to 441 00:23:53,240 --> 00:23:55,960 Speaker 1: how some of the migrants being bust in from border 442 00:23:56,000 --> 00:23:59,360 Speaker 1: states is set to open today. The center will offer 443 00:23:59,440 --> 00:24:04,399 Speaker 1: temporary shelter intents on Randall's Island. The Humanitarian Belief Center 444 00:24:04,400 --> 00:24:07,960 Speaker 1: will start taking single adult men this week, with facilities 445 00:24:08,000 --> 00:24:12,880 Speaker 1: including laundry, meals, and access to international phone calls. Zach 446 00:24:12,960 --> 00:24:15,960 Speaker 1: Isskell is the Emergency Management Commissioner. There are a lot 447 00:24:15,960 --> 00:24:17,840 Speaker 1: of people who we are trying to link up with 448 00:24:17,920 --> 00:24:20,560 Speaker 1: families and sponsors. There's a lot of people that are 449 00:24:20,560 --> 00:24:24,400 Speaker 1: trying to get from another location. UM often the easiest 450 00:24:24,440 --> 00:24:26,879 Speaker 1: way to get out of el passive for examples of 451 00:24:26,960 --> 00:24:29,720 Speaker 1: busting in New York. You've even had somebody that keeps 452 00:24:29,720 --> 00:24:33,280 Speaker 1: to New York trying to get the Emergency Management Commissioners. 453 00:24:33,320 --> 00:24:36,480 Speaker 1: Zach Isiskoll says families with children are to be housed 454 00:24:36,480 --> 00:24:40,240 Speaker 1: in a hotel. Democratic New York Governor Kathy Hokel's lead 455 00:24:40,400 --> 00:24:44,399 Speaker 1: narrowed to just four percentage points over Republican Lee Zelden 456 00:24:44,480 --> 00:24:47,439 Speaker 1: in the new Quinippi AC University poll. It puts the 457 00:24:47,480 --> 00:24:50,000 Speaker 1: Long Island congressman within the margin of error in a 458 00:24:50,080 --> 00:24:53,800 Speaker 1: race where crime has become a dominant issue. Florida Democratic 459 00:24:53,840 --> 00:24:57,640 Speaker 1: Congresswoman Val Demons faced off against Republican Senator Marco Rubio 460 00:24:58,040 --> 00:25:01,960 Speaker 1: in their first debate for ruby OC on WPBF. The 461 00:25:02,000 --> 00:25:05,920 Speaker 1: two sparred over abortion rights. Ruby l defending his support 462 00:25:05,960 --> 00:25:09,120 Speaker 1: for banning abortion with exceptions. Every bill I've ever sponsored 463 00:25:09,119 --> 00:25:11,639 Speaker 1: on abortion, every bill I've ever voted for, has exceptions. 464 00:25:12,000 --> 00:25:13,800 Speaker 1: Every one of them does, because that's what can pass, 465 00:25:13,800 --> 00:25:16,560 Speaker 1: and that's what the majority of people support. Security along 466 00:25:16,560 --> 00:25:19,640 Speaker 1: the border with Mexico was also an issue, Val Demmings. 467 00:25:19,800 --> 00:25:22,240 Speaker 1: I think we can do that with technology, more boots 468 00:25:22,240 --> 00:25:25,879 Speaker 1: on the ground, and more people to process those who 469 00:25:26,000 --> 00:25:28,840 Speaker 1: need to be turned back those who are breaking the 470 00:25:28,920 --> 00:25:32,920 Speaker 1: law from those who are asylum seekers. Pole show. Rubio 471 00:25:33,080 --> 00:25:36,679 Speaker 1: has a slight lead over Demmings going into the November elections. 472 00:25:37,160 --> 00:25:40,200 Speaker 1: Former President Trump is scheduled to sit for a deposition 473 00:25:40,240 --> 00:25:43,399 Speaker 1: today as part of a defamation lawsuit brought by a 474 00:25:43,480 --> 00:25:46,440 Speaker 1: former l magazine writer who claims Trump raped or in 475 00:25:46,480 --> 00:25:49,359 Speaker 1: the ninety nineties. Trump has been in order to answer 476 00:25:49,480 --> 00:25:52,879 Speaker 1: questions under oath from attorneys for E Gene Carroll Global 477 00:25:52,960 --> 00:25:55,159 Speaker 1: News twenty four hours a day on air and on 478 00:25:55,200 --> 00:25:57,880 Speaker 1: Bloomberg Quick Take, Power to buy more than twenty seven 479 00:25:57,960 --> 00:26:01,240 Speaker 1: hundred journalists analysts more than a hundred trees. Michael Barne, 480 00:26:01,280 --> 00:26:08,960 Speaker 1: This is Bloomberg n Thank you, Michael. On Wall Street. 481 00:26:08,960 --> 00:26:10,720 Speaker 1: Time for the Bloomberg Sports Update, brought to you by 482 00:26:10,720 --> 00:26:13,720 Speaker 1: tri State. Out of Here's John tesh Our, Thanks Nathan. 483 00:26:13,800 --> 00:26:16,440 Speaker 1: Playing a game one day, another than next, another city 484 00:26:16,480 --> 00:26:18,560 Speaker 1: happens all the time, just not when it's the start 485 00:26:18,600 --> 00:26:21,639 Speaker 1: of a new playoff series. Monday's rain out Forest Hit. 486 00:26:21,680 --> 00:26:24,080 Speaker 1: So the Yankees, having come back to the two games 487 00:26:24,119 --> 00:26:26,560 Speaker 1: to one deficit in the a l DS, having one 488 00:26:26,640 --> 00:26:29,359 Speaker 1: game five over Cleveland five to one behind the pitches 489 00:26:29,400 --> 00:26:32,040 Speaker 1: of Nestor Cortez, home runs by John Carlos Stanton and 490 00:26:32,080 --> 00:26:35,400 Speaker 1: Aaron Judge. After the game of the celebration, they flew 491 00:26:35,400 --> 00:26:38,439 Speaker 1: to Houston. They start the Alcs ten I Jamison Talion 492 00:26:38,520 --> 00:26:41,240 Speaker 1: against Justin Verlander. The Yankees trying to win the pennant 493 00:26:41,320 --> 00:26:44,080 Speaker 1: and get some revenge on the Astros. Who won the 494 00:26:44,119 --> 00:26:48,040 Speaker 1: ALCS from them in both two thousand, seventeen and nineteen. 495 00:26:48,080 --> 00:26:50,919 Speaker 1: That Phillies keep winning last team into the postseason. They 496 00:26:50,960 --> 00:26:53,280 Speaker 1: are six and one. They won game one in the 497 00:26:53,400 --> 00:26:55,520 Speaker 1: NLCS and San Diego two to enough the in the 498 00:26:55,720 --> 00:26:58,359 Speaker 1: x met Zach Wheeler teaming with two relievers on a 499 00:26:58,480 --> 00:27:00,399 Speaker 1: one hit shutout the Films that only three. It's so 500 00:27:00,480 --> 00:27:02,920 Speaker 1: they got solo home runs from Bryce Harper, who's homered 501 00:27:02,920 --> 00:27:05,959 Speaker 1: in three straight games, and Kyle Schmoreber hit one nearly 502 00:27:06,000 --> 00:27:08,919 Speaker 1: five hundred feet that Nick's open the season tonight in Memphis. 503 00:27:09,000 --> 00:27:12,199 Speaker 1: Nick debut of Jalen Brunson. The Nets off season had 504 00:27:12,280 --> 00:27:15,120 Speaker 1: Kevin Durant demanding a trade that ended up not happening. 505 00:27:15,560 --> 00:27:17,800 Speaker 1: K d and the next tonight host, New Orleans First 506 00:27:17,800 --> 00:27:20,320 Speaker 1: went to the Devil's fourth two of our Anaheimie Islanders 507 00:27:20,359 --> 00:27:23,240 Speaker 1: beat San Jose five. The two NFL owners met in 508 00:27:23,280 --> 00:27:25,600 Speaker 1: New York and the Colt Jim er Say weighed in 509 00:27:25,720 --> 00:27:28,720 Speaker 1: on the league trying to oust him, battled Washington owner 510 00:27:28,800 --> 00:27:32,919 Speaker 1: Dan Snyder. Unfortunately, I believe that that's the road we 511 00:27:33,040 --> 00:27:35,760 Speaker 1: probably need to go down, and we just need to 512 00:27:35,800 --> 00:27:40,639 Speaker 1: finish the investigation. But it's greatly concerning to meeting, um 513 00:27:40,680 --> 00:27:43,160 Speaker 1: the things that have occurred there over the last twenty years. 514 00:27:43,200 --> 00:27:46,280 Speaker 1: Also yesterday I reported shouting match took place between the 515 00:27:46,320 --> 00:27:49,720 Speaker 1: two most high profile owners, Robert Kraft and Jerry Jones. 516 00:27:49,920 --> 00:27:54,920 Speaker 1: John Stashward Bloomberg Sports. Oh goodness, thank you, John seven 517 00:27:54,960 --> 00:27:56,920 Speaker 1: On Wall Street time to take a look at stocks 518 00:27:57,280 --> 00:27:59,520 Speaker 1: some of the names moving in the pre market. Bloomberg 519 00:27:59,600 --> 00:28:03,000 Speaker 1: Radio and t V Markets correspondent Created Gupta is here 520 00:28:03,040 --> 00:28:07,240 Speaker 1: with the reason why Netflix investors are shouting for joy 521 00:28:07,680 --> 00:28:10,919 Speaker 1: Oh absolutely and a f LX. What a turnaround story 522 00:28:11,160 --> 00:28:13,240 Speaker 1: at least for the stock. Shares are up almost fourteen 523 00:28:13,320 --> 00:28:15,640 Speaker 1: percent in the pre market at this Nathan, it could 524 00:28:15,640 --> 00:28:20,440 Speaker 1: be its biggest jump if it holds since January of one. 525 00:28:20,560 --> 00:28:24,400 Speaker 1: That is enormous subscriber growth was like the usual deal 526 00:28:24,480 --> 00:28:26,719 Speaker 1: for that. Yeah, what it was normal for Netflix to have, 527 00:28:26,840 --> 00:28:29,280 Speaker 1: you know, another beat. It's kind of when Amazon kind 528 00:28:29,280 --> 00:28:31,919 Speaker 1: of came out every quarter quarter after Quarner having a 529 00:28:31,960 --> 00:28:35,320 Speaker 1: pretty beat. The problem with getting a pluses every quarter 530 00:28:35,480 --> 00:28:37,840 Speaker 1: is that eventually that has to slow down. You can't 531 00:28:37,840 --> 00:28:42,040 Speaker 1: continue it exactly. Um. So, nevertheless, Netflix looking like it 532 00:28:42,160 --> 00:28:45,480 Speaker 1: has propped lowered expectations a little bit and then beat them, 533 00:28:45,880 --> 00:28:48,280 Speaker 1: which is which is really boosting the shares this morning, 534 00:28:48,280 --> 00:28:51,000 Speaker 1: Like I said, up fourteen percent in the pre market, um, 535 00:28:51,000 --> 00:28:53,440 Speaker 1: and they beat the reestiments for paid subscribers. They're saying 536 00:28:53,440 --> 00:28:56,120 Speaker 1: that maybe the slowdown is likely over. But it's not 537 00:28:56,240 --> 00:28:58,680 Speaker 1: just Netflix. Take a look at Disney as well. D 538 00:28:58,880 --> 00:29:01,240 Speaker 1: I S is your take following in suit up two 539 00:29:01,240 --> 00:29:03,640 Speaker 1: point eight percent. A lot of the streamers are, are 540 00:29:03,720 --> 00:29:07,240 Speaker 1: okay you for Roku those shares are also up tune 541 00:29:07,280 --> 00:29:09,680 Speaker 1: of three point seven percent this morning. You gotta look 542 00:29:09,720 --> 00:29:13,959 Speaker 1: at Warner Brothers Discoveries well, w b D up almost 543 00:29:13,960 --> 00:29:15,880 Speaker 1: two percents. I'll give you one more, Nathan, because you 544 00:29:15,920 --> 00:29:18,719 Speaker 1: know there's such a plethora of streaming companies out here. 545 00:29:19,160 --> 00:29:23,240 Speaker 1: Fubo TV, f u b O the streaming company for sports, 546 00:29:23,280 --> 00:29:26,080 Speaker 1: also up for about three percent this morning. Yeah, all 547 00:29:26,160 --> 00:29:29,000 Speaker 1: in tandem with Netflix, and I see we have some 548 00:29:29,120 --> 00:29:32,760 Speaker 1: positive news in the chip sector for a change as well. 549 00:29:33,080 --> 00:29:35,160 Speaker 1: We absolutely do. LAMB Research is the one I want 550 00:29:35,200 --> 00:29:36,840 Speaker 1: to kind of use as our poster child for this. 551 00:29:37,080 --> 00:29:39,760 Speaker 1: So basically overnight a s m L, which is a 552 00:29:39,840 --> 00:29:42,960 Speaker 1: Dutch semis equipment maker, came out and said that their 553 00:29:43,000 --> 00:29:45,600 Speaker 1: sales are going to be better than expected in the 554 00:29:45,640 --> 00:29:48,200 Speaker 1: fourth quarter. They're saying that's going to be driven by 555 00:29:48,320 --> 00:29:51,120 Speaker 1: this kind of push for advanced chip making machines. Now, Nathan, 556 00:29:51,240 --> 00:29:53,160 Speaker 1: I like to think about chips. I think of kind 557 00:29:53,160 --> 00:29:55,960 Speaker 1: of big tech as your layer number one. Chips kind 558 00:29:55,960 --> 00:29:59,720 Speaker 1: of magnify the move in big tex. So you're your 559 00:30:00,000 --> 00:30:02,920 Speaker 1: companies like Micron, Intel and Video, et cetera. And then 560 00:30:02,920 --> 00:30:06,200 Speaker 1: there's like another layer, and that other layer is chip 561 00:30:06,240 --> 00:30:09,400 Speaker 1: making equipment companies. Think of it like the deer for 562 00:30:09,560 --> 00:30:12,520 Speaker 1: chips essentially um and then that's where Lamb Research comes 563 00:30:12,520 --> 00:30:14,880 Speaker 1: into handy a s m L as well, so Land 564 00:30:14,920 --> 00:30:17,720 Speaker 1: Research taking it's que from the Dutch equipment maker and saying, well, 565 00:30:17,760 --> 00:30:20,520 Speaker 1: maybe work will work for us to l r c 566 00:30:20,760 --> 00:30:23,120 Speaker 1: X as your ticker up three point four percent this morning. 567 00:30:23,360 --> 00:30:26,880 Speaker 1: Applied Materials not far behind a m A t is 568 00:30:26,920 --> 00:30:29,680 Speaker 1: the ticker. They're up about two point four percent in 569 00:30:29,720 --> 00:30:31,480 Speaker 1: the pre market, and of course k l A is 570 00:30:31,520 --> 00:30:32,720 Speaker 1: the one you keep it want to keep an eye 571 00:30:32,760 --> 00:30:35,440 Speaker 1: on their takers. Interesting because it's actually k l A 572 00:30:35,640 --> 00:30:39,000 Speaker 1: c uh those shares are up about to shove three 573 00:30:39,000 --> 00:30:41,160 Speaker 1: percent as well. If you're on the West coast, you 574 00:30:41,240 --> 00:30:44,160 Speaker 1: might think that's a radio station. Believe that for another time. 575 00:30:44,200 --> 00:30:47,840 Speaker 1: Bloomberg Radio TV Markets correspondent Cretty Gupta, thanks as always 576 00:30:47,920 --> 00:30:49,880 Speaker 1: for keeping an eye on what's happening in the pre market. 577 00:30:50,280 --> 00:30:53,120 Speaker 1: Stocks as a whole given back some of the gains. 578 00:30:53,160 --> 00:30:56,800 Speaker 1: Now we have SMP futures back to little changed, up 579 00:30:56,840 --> 00:31:01,360 Speaker 1: three points, DAL futures up one point, and nastack Future 580 00:31:01,440 --> 00:31:03,560 Speaker 1: is kind of holding on a bit up twenty three 581 00:31:03,600 --> 00:31:06,040 Speaker 1: points for a gain of two tenths percent. Ten Your 582 00:31:06,080 --> 00:31:09,880 Speaker 1: treasuries down fourteen thirty seconds yield four point zero six percent. 583 00:31:10,280 --> 00:31:11,920 Speaker 1: N I'm ex screwed on the rise of one and 584 00:31:11,920 --> 00:31:15,320 Speaker 1: a half percent eighty four oh nine of barrel. This 585 00:31:16,120 --> 00:31:23,640 Speaker 1: is Bloomberg and the Bloomberg Sports Report was brought to 586 00:31:23,640 --> 00:31:25,520 Speaker 1: you by Audie. Don't let someone else drive off in 587 00:31:25,560 --> 00:31:28,200 Speaker 1: the outie model you've always wanted. Visit your local try 588 00:31:28,200 --> 00:31:30,400 Speaker 1: state autie dealer to get behind the wheel of yours today, 589 00:31:30,480 --> 00:31:37,840 Speaker 1: or visit autie Offers dot com for more information, markets, 590 00:31:37,920 --> 00:31:41,000 Speaker 1: headlines and breaking news twenty four hours a day at 591 00:31:41,000 --> 00:31:44,440 Speaker 1: Bloomberg dot com, the Bloomberg Business Out and at Bloomberg 592 00:31:44,480 --> 00:31:53,560 Speaker 1: Quick Tape. This is a Bloomberg Business Flash, and I'm 593 00:31:53,600 --> 00:31:56,480 Speaker 1: camerin Moscow. This updates brought to you by Sei said 594 00:31:56,520 --> 00:31:58,560 Speaker 1: managers don't get results that are off the charts. Finer 595 00:31:58,640 --> 00:32:01,920 Speaker 1: solutions are off the shelf now. Scis operating platform can 596 00:32:01,960 --> 00:32:05,040 Speaker 1: turn infrastructure into a competitive advantage at s C i 597 00:32:05,120 --> 00:32:08,360 Speaker 1: C dot Com, slash Tech, N S and P futures 598 00:32:08,400 --> 00:32:11,040 Speaker 1: have given up their gains once again. They're now little change. 599 00:32:11,120 --> 00:32:12,800 Speaker 1: We got to the first word breaking news desk for 600 00:32:12,840 --> 00:32:16,680 Speaker 1: today's morning call. Here's Bill Maloney. Bill, Good morning, Hey, 601 00:32:16,840 --> 00:32:19,640 Speaker 1: Good morning, Karen. US features are quiet right now. Doubt 602 00:32:19,680 --> 00:32:22,400 Speaker 1: futures down eighteen points. S and P s are unchanged 603 00:32:22,480 --> 00:32:25,480 Speaker 1: right now, and as the futures higher by eleven. The 604 00:32:25,560 --> 00:32:28,480 Speaker 1: US ten yeld at four point oh six percent, gold 605 00:32:28,600 --> 00:32:31,160 Speaker 1: is down nineteen oil is in the green, and bitcoin 606 00:32:31,280 --> 00:32:34,240 Speaker 1: is lower by point seven percent. Hong Kong fell two 607 00:32:34,280 --> 00:32:37,240 Speaker 1: point four percent overnight, while up markets are also quiet 608 00:32:37,240 --> 00:32:39,520 Speaker 1: this morning, and back in the US on the economic 609 00:32:39,560 --> 00:32:43,120 Speaker 1: Frinday thirty housing starts after the bells night. Netflix Q 610 00:32:43,280 --> 00:32:46,200 Speaker 1: three subscribers Beat Smiths shares are surging in the free 611 00:32:46,240 --> 00:32:49,000 Speaker 1: market and regarding earnings this morning, look for Prog and 612 00:32:49,040 --> 00:32:52,560 Speaker 1: Gamble to report wrapping things up. Booze Allen was cut 613 00:32:52,600 --> 00:32:55,240 Speaker 1: to Mark reform at Raymond James and Netflix was faced 614 00:32:55,240 --> 00:32:58,360 Speaker 1: to buy over at deeortgea Bank. Live from the First 615 00:32:58,360 --> 00:33:01,240 Speaker 1: Breaking News deskcom Doill Maloney, Karen right, Bill, thanks to 616 00:33:01,280 --> 00:33:03,680 Speaker 1: hear live breaking news over your Bloombergy types. Flock on 617 00:33:03,720 --> 00:33:06,200 Speaker 1: your terminal s qu A w K and that's at 618 00:33:06,200 --> 00:33:09,040 Speaker 1: Bloomberg Business Flash. Now here's Michael Barr with Moore on 619 00:33:09,160 --> 00:33:11,600 Speaker 1: what's going on around the world. Michael, Karen, thank you 620 00:33:11,680 --> 00:33:14,960 Speaker 1: very much. Russian strikes on energy utilities have left more 621 00:33:15,080 --> 00:33:19,280 Speaker 1: Ukrainian villages, towns and parts of two cities without power. 622 00:33:19,680 --> 00:33:23,800 Speaker 1: The overnight bombings further titan and energy squeeze on Ukraine 623 00:33:24,080 --> 00:33:28,120 Speaker 1: that threatens misery for millions in winter. Today, President Biden 624 00:33:28,240 --> 00:33:31,360 Speaker 1: is expected to authorize the release of fifteen million more 625 00:33:31,400 --> 00:33:35,160 Speaker 1: barrels of oil from the nation's energy stock supply in 626 00:33:35,400 --> 00:33:39,120 Speaker 1: an attempt to bring down gas prices. In baseball, the 627 00:33:39,200 --> 00:33:41,880 Speaker 1: Yankees are getting ready to face the Astros and the 628 00:33:42,000 --> 00:33:45,360 Speaker 1: a l CS New York Beach Guardians five one to 629 00:33:45,480 --> 00:33:48,760 Speaker 1: advance in Game one of the NLCS to Philly shut 630 00:33:48,760 --> 00:33:51,400 Speaker 1: off the Padres to Zip. In the opening night of 631 00:33:51,440 --> 00:33:55,600 Speaker 1: the NBA, the Celtics and Warriors one. In hockey, the 632 00:33:55,640 --> 00:33:59,280 Speaker 1: Devils and Islanders won, the Bruins lost. Globally, it's twenty 633 00:33:59,280 --> 00:34:02,160 Speaker 1: four hours a day a on air and on Bloomberg Quicktake, 634 00:34:02,440 --> 00:34:05,440 Speaker 1: powered by more than twenty seven hundred journalists and analysts 635 00:34:05,440 --> 00:34:07,760 Speaker 1: more than a d twenty countries. I'm Michael Bar and 636 00:34:07,880 --> 00:34:10,799 Speaker 1: this is Bloomberg. Karen alright, Michael bar thank you at 637 00:34:10,800 --> 00:34:12,719 Speaker 1: at sixty nine on Wall Street, and we turned to 638 00:34:12,800 --> 00:34:15,360 Speaker 1: news and science and technology now with a Bloomberg and 639 00:34:15,480 --> 00:34:18,600 Speaker 1: j I T STEM report. BRONTI U buy New Jersey 640 00:34:18,680 --> 00:34:22,000 Speaker 1: Institute of Technology n j I T makes transferring easy 641 00:34:22,239 --> 00:34:26,359 Speaker 1: feverage your associates degree into a STEMA focused bachelor's Learn 642 00:34:26,400 --> 00:34:28,080 Speaker 1: more at n j I T DOT E d U 643 00:34:28,239 --> 00:34:31,759 Speaker 1: slash transfer Now. Here's what's making news and science, technology, 644 00:34:31,760 --> 00:34:35,200 Speaker 1: engineering and math. Britain's first ever space launch is on 645 00:34:35,280 --> 00:34:37,879 Speaker 1: track to take place before the end of November, as 646 00:34:37,880 --> 00:34:41,960 Speaker 1: according to billionaire entrepreneur Richard Branson, whose Virgin Orbit Holdings 647 00:34:42,000 --> 00:34:45,320 Speaker 1: will undertake the mission. Required infrastructure is now in place 648 00:34:45,360 --> 00:34:49,160 Speaker 1: at Spaceport Cornwall in southwest England. Following the arrival of 649 00:34:49,280 --> 00:34:53,320 Speaker 1: Virgin's launcher one rocket. Apple has launched his first fully 650 00:34:53,360 --> 00:34:57,160 Speaker 1: redesigned entry level iPad in five years and new Pro models. 651 00:34:57,320 --> 00:34:59,880 Speaker 1: The latest iPad pro as the M two chip you 652 00:35:00,120 --> 00:35:03,760 Speaker 1: in recent Mac computers. That product represents the Pro models 653 00:35:03,760 --> 00:35:06,120 Speaker 1: first upgrade in a year and a half. The company 654 00:35:06,160 --> 00:35:09,560 Speaker 1: also introduced a cheaper Apple TV set top box with 655 00:35:09,680 --> 00:35:13,200 Speaker 1: four K video support, and a new study published in 656 00:35:13,200 --> 00:35:17,440 Speaker 1: the journal Cell finds that some people really are mosquito magnets. 657 00:35:17,680 --> 00:35:20,600 Speaker 1: The researchers found that people who are most attractive to 658 00:35:20,640 --> 00:35:23,399 Speaker 1: mosquitoes produce a lot of certain chemicals on their skin 659 00:35:23,480 --> 00:35:26,880 Speaker 1: that are tied to smell. Researchers designed and experiment putting 660 00:35:26,880 --> 00:35:29,759 Speaker 1: people's sense against each other. They asked volunteers to wear 661 00:35:29,880 --> 00:35:33,200 Speaker 1: nylon stockings around their forearms to pick up their skin smells. 662 00:35:33,440 --> 00:35:35,560 Speaker 1: The stockings were put in separate traps at the end 663 00:35:35,600 --> 00:35:38,600 Speaker 1: of a long tube. Than dozens of mosquitoes were released, 664 00:35:38,800 --> 00:35:41,680 Speaker 1: and scientists said the mosquitoes would swarm to the most 665 00:35:41,800 --> 00:35:45,600 Speaker 1: attractive subjects. That's the Bloomberg n j I t STEM 666 00:35:45,640 --> 00:35:49,319 Speaker 1: report just piling on the insecurities, aren't you, Karen, Well, 667 00:35:49,400 --> 00:35:52,920 Speaker 1: my daughter is definitely as I was thinking that boom 668 00:35:53,080 --> 00:35:55,759 Speaker 1: A right to her, explains a lot for a lot 669 00:35:55,760 --> 00:35:58,360 Speaker 1: of people. I'm sure thank you for that appreciated. We 670 00:35:58,400 --> 00:36:01,200 Speaker 1: are live for the Bloomberg Interactive Broker Studios Hour is 671 00:36:01,239 --> 00:36:04,279 Speaker 1: six fifty one on Wall Street Time to check what's 672 00:36:04,320 --> 00:36:06,360 Speaker 1: going on in DC now. Some of the top stories 673 00:36:06,400 --> 00:36:09,560 Speaker 1: in our nation's capital include President Biden preparing to announce 674 00:36:09,560 --> 00:36:13,080 Speaker 1: another strategic oil release, potentially with even more to come 675 00:36:13,280 --> 00:36:16,640 Speaker 1: this winter. Also making news the President vowing to send 676 00:36:16,680 --> 00:36:20,399 Speaker 1: abortion rights legislation to Congress if Democrats win the mid terms, 677 00:36:20,840 --> 00:36:24,600 Speaker 1: and Kevin McCarthy suggesting Republicans would resist more aid to 678 00:36:24,760 --> 00:36:27,839 Speaker 1: Ukraine if they take over the House in November. Let's 679 00:36:27,840 --> 00:36:30,279 Speaker 1: get more on the mid term picture. Greg Valiare is 680 00:36:30,320 --> 00:36:35,160 Speaker 1: with US now, chief US policy strategist at a GF Investments. Greg, 681 00:36:35,200 --> 00:36:37,640 Speaker 1: let's start off with this announcement we are expecting later 682 00:36:37,680 --> 00:36:40,640 Speaker 1: this afternoon from the President on trying to get a 683 00:36:40,680 --> 00:36:45,360 Speaker 1: handle on rising gas prices. Do you think that another 684 00:36:45,400 --> 00:36:49,480 Speaker 1: strategic oil release will have much impact? Probably not a lot, Nathan, 685 00:36:49,520 --> 00:36:52,839 Speaker 1: good morning. I do think that politically, of less than 686 00:36:52,880 --> 00:36:55,640 Speaker 1: a month ago before the election, it makes some sense 687 00:36:55,680 --> 00:36:57,960 Speaker 1: he wants to show the public that he's doing everything 688 00:36:58,000 --> 00:37:01,799 Speaker 1: he can. But in terms of the price. No, I 689 00:37:01,800 --> 00:37:04,040 Speaker 1: don't think it's going to have a huge impact. Well, 690 00:37:04,040 --> 00:37:08,680 Speaker 1: it does seem as though the economy inflation are coming 691 00:37:08,719 --> 00:37:12,040 Speaker 1: back front and center for voters with less than three 692 00:37:12,080 --> 00:37:14,920 Speaker 1: weeks to go now till the mid term election. What 693 00:37:15,040 --> 00:37:18,000 Speaker 1: kind of impact could an announcement like this have when 694 00:37:18,080 --> 00:37:22,080 Speaker 1: it comes to trying to steer the economic message for Democrats. 695 00:37:22,400 --> 00:37:24,960 Speaker 1: Maybe a little if the price at the pump does 696 00:37:25,000 --> 00:37:27,720 Speaker 1: go down a bit, But I think attitudes are pretty 697 00:37:27,800 --> 00:37:30,280 Speaker 1: much locked in, and we usually when you get towards 698 00:37:30,280 --> 00:37:32,920 Speaker 1: the end of October and here we are, what's today 699 00:37:32,960 --> 00:37:37,480 Speaker 1: the nineteen You're starting to get an electorate that has 700 00:37:37,520 --> 00:37:41,880 Speaker 1: made up its mind, and the big story is that 701 00:37:41,960 --> 00:37:46,680 Speaker 1: it's all pocketbook issues entirely. To my surprise, abortion is 702 00:37:46,680 --> 00:37:49,600 Speaker 1: not in the top three or four issues. Uh. Urban 703 00:37:49,600 --> 00:37:52,360 Speaker 1: crime is a big issue, that the border with Texas 704 00:37:52,440 --> 00:37:56,400 Speaker 1: is big, but it really boils down into economic issues inflation, 705 00:37:56,719 --> 00:37:59,759 Speaker 1: and that's a real weak point for the Democrats. Although 706 00:38:00,000 --> 00:38:02,600 Speaker 1: it is interesting, of course, to hear the President yesterday 707 00:38:02,640 --> 00:38:05,640 Speaker 1: saying that if Democrats do win in the mid terms, 708 00:38:05,719 --> 00:38:09,839 Speaker 1: he would send abortion rights legislation codifying row as His 709 00:38:10,000 --> 00:38:14,600 Speaker 1: first move if the Democrats do take control is that 710 00:38:14,640 --> 00:38:17,320 Speaker 1: going to help Democrats to have that kind of message 711 00:38:17,360 --> 00:38:21,520 Speaker 1: come out this soon before election day. Maybe it's the margin, 712 00:38:21,800 --> 00:38:24,680 Speaker 1: but I think it's it's clear to me anyway that 713 00:38:24,719 --> 00:38:27,239 Speaker 1: it's not going to make it if Biden does propose that, 714 00:38:27,360 --> 00:38:30,359 Speaker 1: because the House almost certainly is going to flip, and 715 00:38:30,360 --> 00:38:32,960 Speaker 1: it may flip by a lot. It could be as 716 00:38:33,040 --> 00:38:35,600 Speaker 1: low as a ten or twelve or fifteen point flip, 717 00:38:36,360 --> 00:38:38,960 Speaker 1: it could be a twenty or twenty five Seaton flip. 718 00:38:39,080 --> 00:38:41,399 Speaker 1: I think the Republicans are headed for a very good 719 00:38:41,480 --> 00:38:45,040 Speaker 1: night on November eight, And I think that any kind 720 00:38:45,040 --> 00:38:48,680 Speaker 1: of promise you here on abortion is a hollow promise. Yeah. 721 00:38:48,680 --> 00:38:50,520 Speaker 1: I think I saw a note from you just the 722 00:38:50,520 --> 00:38:53,320 Speaker 1: other day that the L word is starting to rear 723 00:38:53,360 --> 00:38:56,400 Speaker 1: its head Landslide. Give us a little more on that. 724 00:38:56,440 --> 00:38:58,880 Speaker 1: What has you thinking that we could see a potential 725 00:38:58,920 --> 00:39:01,200 Speaker 1: red wave in a few weeks. Well, two things. They 726 00:39:01,480 --> 00:39:06,720 Speaker 1: Number one, a significant shift of Hispanic voters towards the Republicans. 727 00:39:07,200 --> 00:39:10,680 Speaker 1: I think Democrats have taken Hispanic voters for granted, and 728 00:39:10,760 --> 00:39:12,799 Speaker 1: there's going to be I think a move there that 729 00:39:12,840 --> 00:39:15,160 Speaker 1: could make the difference of three or four or five 730 00:39:15,200 --> 00:39:19,520 Speaker 1: House seats. The the other big big issue was urban crime. 731 00:39:20,120 --> 00:39:23,200 Speaker 1: I think it's having an impact in Pennsylvania for Dr 732 00:39:23,280 --> 00:39:27,360 Speaker 1: Oz and many other races. Urban crime has become the 733 00:39:27,400 --> 00:39:31,000 Speaker 1: hot button issue, and the Democrats are stuck with his label. 734 00:39:31,080 --> 00:39:34,840 Speaker 1: That isn't fair. Politics isn't always fair, but this label 735 00:39:34,920 --> 00:39:37,520 Speaker 1: that they want to defund the police, that's not true. 736 00:39:37,920 --> 00:39:40,879 Speaker 1: Biden certainly doesn't want to, most of the Democrats don't, 737 00:39:41,120 --> 00:39:43,040 Speaker 1: but they're stuck with a label and they can't get 738 00:39:43,120 --> 00:39:45,800 Speaker 1: rid of it. Now. We have a number of Senate 739 00:39:45,880 --> 00:39:48,440 Speaker 1: races we're watching. You mentioned the one in Pennsylvania. We 740 00:39:48,560 --> 00:39:51,640 Speaker 1: just had a debate last night in Florida, Marco Rubio 741 00:39:51,800 --> 00:39:55,680 Speaker 1: taking on a former police chief in Democrat Val Demmings. 742 00:39:55,680 --> 00:39:58,160 Speaker 1: In terms of the crime issue, how do you see 743 00:39:58,280 --> 00:40:01,240 Speaker 1: that chacking out in a race like the one in Florida, 744 00:40:01,280 --> 00:40:06,240 Speaker 1: which of course is always a battleground politically. Yeah, Florida 745 00:40:06,280 --> 00:40:09,120 Speaker 1: is a tough phrase right now for the Democrats. I 746 00:40:09,160 --> 00:40:12,000 Speaker 1: think that Deming's is not a bad candidate. I watched 747 00:40:12,040 --> 00:40:14,719 Speaker 1: some of the debate. It was very spirited, but I 748 00:40:14,760 --> 00:40:18,000 Speaker 1: think she's the underdog. At the surprise will be Rubio 749 00:40:18,200 --> 00:40:20,680 Speaker 1: only winning by three or four or five points. But 750 00:40:20,760 --> 00:40:23,520 Speaker 1: I do think you'll win. I want to ask you 751 00:40:23,560 --> 00:40:26,680 Speaker 1: as well about what kind of changes we could see 752 00:40:26,719 --> 00:40:30,480 Speaker 1: in terms of policy if Republicans, as you're predicting, do 753 00:40:30,880 --> 00:40:35,880 Speaker 1: UH make significant gains next month. We've heard interviews recently 754 00:40:35,960 --> 00:40:40,719 Speaker 1: with House Republican Leader Kevin McCarthy suggesting that maybe Ukraine 755 00:40:40,920 --> 00:40:44,240 Speaker 1: wouldn't get as much aid under a Republican controlled Congress. 756 00:40:44,239 --> 00:40:47,680 Speaker 1: What kind of changes could we see if Republicans do 757 00:40:47,960 --> 00:40:50,879 Speaker 1: get the majority? Really interesting question. I think there are 758 00:40:50,920 --> 00:40:54,640 Speaker 1: three big issues. Number One, the Republicans want to resurrect 759 00:40:54,680 --> 00:40:58,480 Speaker 1: the idea of the tax cuts, which will expire, many 760 00:40:58,480 --> 00:41:00,239 Speaker 1: of them expire in the middle of this next gig. 761 00:41:00,480 --> 00:41:02,440 Speaker 1: They'll want to revive that. I don't think that's going 762 00:41:02,480 --> 00:41:05,440 Speaker 1: to go very far. I think they also are going 763 00:41:05,480 --> 00:41:08,120 Speaker 1: to talk about big spending cuts, and if they don't 764 00:41:08,160 --> 00:41:11,680 Speaker 1: get big spending cuts, they might even threaten a government shutdown. 765 00:41:12,000 --> 00:41:14,240 Speaker 1: But the third issue, the one that is the most 766 00:41:14,400 --> 00:41:18,840 Speaker 1: eye opening, is a growing feeling among Trump supporters on 767 00:41:18,880 --> 00:41:22,319 Speaker 1: the far right and maybe now among a lot of 768 00:41:22,360 --> 00:41:25,520 Speaker 1: Republicans in the House to not give much more aid 769 00:41:25,560 --> 00:41:28,680 Speaker 1: to Ukraine, that we have more important needs at home, 770 00:41:29,120 --> 00:41:32,040 Speaker 1: that we can't just give them a blank check. If 771 00:41:32,080 --> 00:41:35,480 Speaker 1: that takes over and we're seeing protests in Western Europe, 772 00:41:35,840 --> 00:41:40,160 Speaker 1: could we have a situation by spring where maybe Vladimir 773 00:41:40,200 --> 00:41:44,520 Speaker 1: prutencies a dwindling resolve in the West. That's not out 774 00:41:44,520 --> 00:41:46,880 Speaker 1: of the question. I mean, just thirty seconds left here 775 00:41:46,880 --> 00:41:49,920 Speaker 1: we all stard from Marjorie Taylor Green explicitly saying she 776 00:41:50,040 --> 00:41:53,839 Speaker 1: expects to get more power if Republicans take control. Can 777 00:41:53,920 --> 00:41:58,319 Speaker 1: we see a resurgent sort of Trump wing of the party. 778 00:41:58,640 --> 00:42:00,840 Speaker 1: What Kevin McCarthy has to do, who has appeased the 779 00:42:00,960 --> 00:42:03,880 Speaker 1: right wing in order to get elected speaker? If he doesn't, 780 00:42:03,920 --> 00:42:07,200 Speaker 1: Steve Police could come back into the picture, So he'll 781 00:42:07,239 --> 00:42:10,239 Speaker 1: probably do whatever Marjorie Taylor Green wants because he wants 782 00:42:10,280 --> 00:42:13,040 Speaker 1: to be speaker. Always good to get your thoughts, Gregg. 783 00:42:13,080 --> 00:42:16,160 Speaker 1: Thanks for this. Greg Value, a chief US policy strategist 784 00:42:16,480 --> 00:42:20,040 Speaker 1: at a GF Investments. Read much more at Bloomberg dot 785 00:42:20,120 --> 00:42:22,320 Speaker 1: com or on the Bloomberg terminal, and whenever you're in 786 00:42:22,360 --> 00:42:25,120 Speaker 1: the nation's capital, you can tune in Bloomberg Radio at 787 00:42:25,160 --> 00:42:28,880 Speaker 1: Bloomberg and one oh five point seven fm h D 788 00:42:29,080 --> 00:42:33,480 Speaker 1: two futures turning again, got SMP futures Little change down 789 00:42:33,520 --> 00:42:37,120 Speaker 1: down a point. Dal futures down thirty seven. Nasdaq Future 790 00:42:37,160 --> 00:42:40,520 Speaker 1: is still holding onto a game, just barely by seven points. 791 00:42:41,080 --> 00:42:44,800 Speaker 1: Bloomberg surveillance is next for Karen Moscow. I'm Nathan Hager, 792 00:42:44,960 --> 00:42:46,799 Speaker 1: and this is Bloomberg