1 00:00:01,960 --> 00:00:05,160 Speaker 1: Live from the Bloomberg and directed Burger Studios. Is Bloomberg 2 00:00:05,240 --> 00:00:09,160 Speaker 1: Daybreak for Wednesday, February two, two. Coming up this hour, 3 00:00:09,560 --> 00:00:12,880 Speaker 1: NAZAC futures roundly on the heels of earnings from Alphabet. 4 00:00:13,000 --> 00:00:16,160 Speaker 1: The Google Parents surges after announcing a twenty for one 5 00:00:16,160 --> 00:00:19,800 Speaker 1: stop split. FED signals also help sentiment, as officials hint 6 00:00:19,800 --> 00:00:22,240 Speaker 1: of a measured pace for rate heights and oil trades 7 00:00:22,280 --> 00:00:24,920 Speaker 1: near a seven year high ahead of today's OPEC meeting. 8 00:00:25,079 --> 00:00:28,640 Speaker 1: Funeral services are today for the second NYPD officer killed 9 00:00:28,680 --> 00:00:32,000 Speaker 1: in an ambush and Harlem. Plus Russian President Putin speaks 10 00:00:32,000 --> 00:00:35,320 Speaker 1: out about Ukraine. I'm Michael barn More Ahead, I'm Tom 11 00:00:35,360 --> 00:00:39,960 Speaker 1: stashdown Sports. Tom Brady officially retired a blockbuster NFL lawsuit, 12 00:00:40,080 --> 00:00:45,320 Speaker 1: The Nets lost, the Rangers warm. That's all straight ahead 13 00:00:45,400 --> 00:00:51,440 Speaker 1: on Bloomberg day Break on Bloomberg Elementoro, New York, Bloomberg one, Washington, 14 00:00:51,560 --> 00:00:55,440 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine six, 15 00:00:55,680 --> 00:00:59,680 Speaker 1: San Francisco, Sirius x M one nineteen and around the 16 00:00:59,680 --> 00:01:03,840 Speaker 1: world along Bloomberg Radio dot Com and via The Bloomberg Business. 17 00:01:08,000 --> 00:01:11,000 Speaker 1: Good morning, I'm Para in Moscow. I'm Nathan Hagar Bloomberg 18 00:01:11,040 --> 00:01:13,839 Speaker 1: Daybreak brought to you by s ELI Challenges highlight one's 19 00:01:13,920 --> 00:01:16,560 Speaker 1: character of partnership and resilience. At SEI, they act as 20 00:01:16,600 --> 00:01:18,920 Speaker 1: one community with their clients. Go to se i C 21 00:01:19,120 --> 00:01:23,440 Speaker 1: dot com, Slash banks and US futures are gaining this morning. 22 00:01:23,480 --> 00:01:26,039 Speaker 1: We check the markets every fifteen minutes throughout the trading 23 00:01:26,160 --> 00:01:29,400 Speaker 1: day on Bloomberg. Right now, SMP futures are up thirty 24 00:01:29,440 --> 00:01:33,040 Speaker 1: seven points down futures up forty nine. Nasday futures up 25 00:01:33,040 --> 00:01:36,600 Speaker 1: two dty one. The ten year treasury little change at 26 00:01:36,600 --> 00:01:39,280 Speaker 1: one point seven eight percent. They yield on the two 27 00:01:39,360 --> 00:01:42,440 Speaker 1: year is at one point one is six percent. The 28 00:01:42,520 --> 00:01:45,840 Speaker 1: euro one point one three against the dollar. Nathan well 29 00:01:45,880 --> 00:01:49,600 Speaker 1: Karen boosted NASTACK futures comes in part thanks to corporate earnings. 30 00:01:49,800 --> 00:01:52,280 Speaker 1: Let's begin with Alphabet. The shares are up more than 31 00:01:52,320 --> 00:01:56,000 Speaker 1: ten percent. The Google parent beat profit and sales estimates 32 00:01:56,040 --> 00:01:58,880 Speaker 1: and announced a stock split at Ludlow joins us with 33 00:01:58,920 --> 00:02:01,920 Speaker 1: the details from our bloom Ignined sixty newsroom in San Francisco. 34 00:02:02,440 --> 00:02:04,360 Speaker 1: It was a beat on the top and bottom line 35 00:02:04,360 --> 00:02:07,120 Speaker 1: for Alphabet, the parent company of Google, and all signs 36 00:02:07,120 --> 00:02:10,920 Speaker 1: really points for a resilient advertising business, but really it 37 00:02:11,040 --> 00:02:14,280 Speaker 1: was news of the stock split that drove activity and 38 00:02:14,320 --> 00:02:17,720 Speaker 1: after hours for Alphabet. The company is doing a twenty 39 00:02:17,800 --> 00:02:20,200 Speaker 1: for one stock split in the form of a one 40 00:02:20,280 --> 00:02:23,280 Speaker 1: time special stock dividends, and as part of that split, 41 00:02:23,440 --> 00:02:26,240 Speaker 1: Google's parents going to give one tenth of ascent for 42 00:02:26,400 --> 00:02:29,720 Speaker 1: each share of the company's Class A, Class B, and 43 00:02:29,840 --> 00:02:33,200 Speaker 1: Class C stock, and Ruth Parrat, who is Alphabet CFO, 44 00:02:33,520 --> 00:02:36,560 Speaker 1: told Bloomberg that the rationale here is to widen the 45 00:02:36,600 --> 00:02:40,160 Speaker 1: net and make the stock more accessible to investors. Ed 46 00:02:40,240 --> 00:02:43,720 Speaker 1: love Low, Bloomberg News, San Francisco, Thank you. Adding to 47 00:02:43,760 --> 00:02:46,639 Speaker 1: the bullish sentiment this morning is a MD. Shares of 48 00:02:46,720 --> 00:02:49,600 Speaker 1: the chip maker are up almost eleven percent. The company 49 00:02:49,600 --> 00:02:53,000 Speaker 1: had a surprisingly strong sales fourcast, suggesting it's making further 50 00:02:53,120 --> 00:02:56,640 Speaker 1: gains unrivaled Intel. We're also watching shares of General Motors 51 00:02:56,680 --> 00:02:59,280 Speaker 1: Care and they're up less than one percent. GM earning 52 00:02:59,320 --> 00:03:03,120 Speaker 1: stock dust and it's while it's outlook for two remained unchanged. 53 00:03:03,240 --> 00:03:06,280 Speaker 1: We get more from Bloomberg's Charlie Pellace. GM is seeing 54 00:03:06,360 --> 00:03:09,920 Speaker 1: signs of an easing in the semiconductor shortage that curbed 55 00:03:09,960 --> 00:03:13,320 Speaker 1: a vehicle output and dent at its market share last year. 56 00:03:13,680 --> 00:03:17,639 Speaker 1: But it's cautioning sales and profit for twenty two maybe 57 00:03:17,800 --> 00:03:21,160 Speaker 1: little changed. GM was hit among the hardest in the 58 00:03:21,200 --> 00:03:24,399 Speaker 1: fourth quarter, when a forty three percent drop in domestic 59 00:03:24,440 --> 00:03:27,880 Speaker 1: sales forced the company to relinquish its crown the top 60 00:03:27,960 --> 00:03:33,080 Speaker 1: us automaker for the first time since in New York. 61 00:03:33,160 --> 00:03:36,200 Speaker 1: Charlie Pellett Bloomberg Daybreak. All right, Charlie, thank you. We'll 62 00:03:36,240 --> 00:03:39,000 Speaker 1: have more on GM later this morning on Bloomberg Surveillance. 63 00:03:39,000 --> 00:03:41,960 Speaker 1: Will be speaking live with the CEO, Mary Barrap. That's 64 00:03:42,000 --> 00:03:44,480 Speaker 1: coming up at nine am Wall Street time on both 65 00:03:44,520 --> 00:03:48,040 Speaker 1: Bloomberg Radio and television. Nathan Earnings continue to roll in 66 00:03:48,120 --> 00:03:51,040 Speaker 1: today when nearly three dozen companies reporting and heading the 67 00:03:51,120 --> 00:03:54,480 Speaker 1: list as Facebook owner Meta Platforms. We get a preview 68 00:03:54,520 --> 00:03:58,119 Speaker 1: from Bloomberg's Tom Busby in its first earnings report under 69 00:03:58,160 --> 00:04:01,840 Speaker 1: its new corporate name. Facebook's owner, Meta Platforms, is expected 70 00:04:01,880 --> 00:04:05,120 Speaker 1: to report a burst in digital advertising revenue last quarter 71 00:04:05,320 --> 00:04:08,880 Speaker 1: and solid holiday sales of its Oculus VR headset. Bloomberg 72 00:04:08,880 --> 00:04:12,080 Speaker 1: analysts forecast total revenue of thirty three point four three 73 00:04:12,160 --> 00:04:14,960 Speaker 1: billion dollars, a nine percent jump from a year ago, 74 00:04:15,080 --> 00:04:17,640 Speaker 1: with nearly all of that from advertising. Look for earnings 75 00:04:17,640 --> 00:04:20,240 Speaker 1: per share of three dollars four cents, and on the 76 00:04:20,279 --> 00:04:22,680 Speaker 1: earnings call, expect the company to be pressed to better 77 00:04:22,760 --> 00:04:26,080 Speaker 1: explain the metaverse, the virtual reality platform it's basing its 78 00:04:26,080 --> 00:04:30,240 Speaker 1: future on. Tom busby Bloomberg Daybreak. Okay, Tom, Thanks. Turning 79 00:04:30,240 --> 00:04:32,920 Speaker 1: from earnings now. Markets are also getting a boost from 80 00:04:32,920 --> 00:04:35,480 Speaker 1: the Fed. Central Bank officials are laying out a measured 81 00:04:35,520 --> 00:04:37,640 Speaker 1: approach to the path for rate hikes this year. We 82 00:04:37,680 --> 00:04:40,680 Speaker 1: get that story live from Bloomberg's Greneda Young, Good morning, Granita, 83 00:04:40,760 --> 00:04:43,560 Speaker 1: Good morning Nathan. The measured calls from FED leaders are 84 00:04:43,560 --> 00:04:46,560 Speaker 1: different from Wall Street forecasts, which include as many as 85 00:04:46,680 --> 00:04:50,200 Speaker 1: seven rate hikes this year. Some even predict a fifty 86 00:04:50,320 --> 00:04:53,360 Speaker 1: basis point hike next month. So far, none of the 87 00:04:53,360 --> 00:04:56,080 Speaker 1: Fed officials speaking this week have backed the idea of 88 00:04:56,120 --> 00:04:58,680 Speaker 1: such an increase in March. The most hawkish of them 89 00:04:58,720 --> 00:05:01,480 Speaker 1: all St. Louis FED President it James Bullard says five 90 00:05:01,560 --> 00:05:04,719 Speaker 1: hikes is quote not too bad a bit. Kansas City 91 00:05:04,720 --> 00:05:07,760 Speaker 1: Fit chief Esther George is another hawk, and she says 92 00:05:07,839 --> 00:05:12,039 Speaker 1: ideally the Fit prefers to go gradually live in New York. 93 00:05:12,080 --> 00:05:14,640 Speaker 1: I'm gonned a Young Bloomberg Daybreak. I need to thank you, 94 00:05:14,720 --> 00:05:17,240 Speaker 1: Fede officials will be paying close attention to this week's 95 00:05:17,240 --> 00:05:19,720 Speaker 1: economic data. This morning, we get the first at three 96 00:05:19,720 --> 00:05:22,080 Speaker 1: reports on the labor market. We could see a dramatic 97 00:05:22,120 --> 00:05:26,039 Speaker 1: slowdown in business hiring when a DP issues January payroll data. 98 00:05:26,320 --> 00:05:29,320 Speaker 1: Economists surveyed by Bloomberg anticipate a gain of less than 99 00:05:29,360 --> 00:05:33,000 Speaker 1: two hundred thousand, and Bloomberri's Benny down Juda's reports. Bloomberg 100 00:05:33,000 --> 00:05:37,080 Speaker 1: Economics says January's ADP data will point to a slowdown 101 00:05:37,120 --> 00:05:42,080 Speaker 1: and hiring reflecting the impact of COVID nineteen Armicron infections 102 00:05:42,120 --> 00:05:46,839 Speaker 1: on businesses. February could usher in a recovery. In December, 103 00:05:46,880 --> 00:05:50,880 Speaker 1: a DP reported businesses added more than eight hundred thousand workers, 104 00:05:50,880 --> 00:05:55,600 Speaker 1: the most its May, though official government figures were less robust. 105 00:05:55,760 --> 00:05:58,680 Speaker 1: Bloomberg Daybreak al right, Vinnie, thanks. The big labor report 106 00:05:58,760 --> 00:06:01,880 Speaker 1: comes on Friday with fronament payrolls data for January. The 107 00:06:01,920 --> 00:06:05,520 Speaker 1: Biden administration's lowering expectations on that as well. The White 108 00:06:05,560 --> 00:06:08,359 Speaker 1: House says fallout from Omicron could overstate the number of 109 00:06:08,400 --> 00:06:11,240 Speaker 1: unemployed people. Jared Bernstein is a member of the White 110 00:06:11,240 --> 00:06:14,880 Speaker 1: House Council of Economic Advisors. If you're not on the payroll, 111 00:06:15,120 --> 00:06:17,880 Speaker 1: meaning you're sick or you're absence, so you're on some 112 00:06:17,920 --> 00:06:20,960 Speaker 1: sort of unpaid leave, you're not going to be counted 113 00:06:20,960 --> 00:06:24,000 Speaker 1: on the payroll for the payroll survey. And the fact 114 00:06:24,080 --> 00:06:27,560 Speaker 1: is um virtually all of those folks likely still have 115 00:06:27,720 --> 00:06:30,159 Speaker 1: their jobs, so when they go back in February, they 116 00:06:30,160 --> 00:06:32,680 Speaker 1: will be counted again. Jared Bernstein with the Council of 117 00:06:32,760 --> 00:06:36,120 Speaker 1: Economic Advisors spoke with our Washington correspondent Joe Matthew on 118 00:06:36,120 --> 00:06:38,800 Speaker 1: Bloomberg Sound On. You can catch the program weekdays at 119 00:06:38,800 --> 00:06:42,240 Speaker 1: five pm Eastern on Bloomberg Radio. Well Nathan Oil also 120 00:06:42,320 --> 00:06:44,400 Speaker 1: and Focus. This morning, it is trading near a seven 121 00:06:44,480 --> 00:06:47,040 Speaker 1: year high ahead of an OPEG plus meeting. Oh Peck 122 00:06:47,080 --> 00:06:50,040 Speaker 1: and its allies are expected to approve another modest oil 123 00:06:50,120 --> 00:06:53,479 Speaker 1: output increase today, at the same time they could struggle 124 00:06:53,520 --> 00:06:56,840 Speaker 1: to actually deliver that cut. Checking prices now, nonm ex 125 00:06:56,880 --> 00:06:58,800 Speaker 1: scrude oil is down about a tenth of a percent. 126 00:06:58,920 --> 00:07:01,240 Speaker 1: It's down nine cents a d eight dollars eleven cents 127 00:07:01,240 --> 00:07:05,320 Speaker 1: of barrel Brent is at eighty eight dollars. Stock futures 128 00:07:05,320 --> 00:07:08,520 Speaker 1: are moving higher, Karen, led by the NASTAC. NASTAC futures 129 00:07:08,560 --> 00:07:11,360 Speaker 1: up two hundred forty two points or one point six percent. 130 00:07:11,800 --> 00:07:14,239 Speaker 1: S ANDP futures are up thirty six points down, futures 131 00:07:14,280 --> 00:07:17,120 Speaker 1: up forty two. Straight ahead your latest local headlines in 132 00:07:17,160 --> 00:07:23,800 Speaker 1: the check of sports. This is Bloomberg. It's out five 133 00:07:23,840 --> 00:07:26,040 Speaker 1: oh seven on Wall Street where thirty four degrees in 134 00:07:26,120 --> 00:07:28,720 Speaker 1: Central Park, dealing with a water main breaking seat bright. 135 00:07:28,720 --> 00:07:31,040 Speaker 1: It's a North founder A three thirty six by Atlantic Way. 136 00:07:31,160 --> 00:07:33,640 Speaker 1: Details coming up the traffic First. Michael Barr is here 137 00:07:33,880 --> 00:07:35,680 Speaker 1: with more on what's going on in New York and 138 00:07:35,720 --> 00:07:38,320 Speaker 1: around the world. Good morning, Michael, Good morning Nathan. A 139 00:07:38,440 --> 00:07:40,880 Speaker 1: sea of blue is expected again today in New York 140 00:07:40,960 --> 00:07:44,800 Speaker 1: City at the funeral for Officer Wilbert Mora, the second 141 00:07:44,800 --> 00:07:47,160 Speaker 1: of two n y p D officers killed in the 142 00:07:47,240 --> 00:07:50,200 Speaker 1: line of duty last month. Awake for Maura, who was 143 00:07:50,240 --> 00:07:53,280 Speaker 1: twenty seven, was held yesterday. He was killed during a 144 00:07:53,360 --> 00:07:57,120 Speaker 1: domestic disturbance call in Harlem along with his partner, Jason Rivera. 145 00:07:57,400 --> 00:08:00,520 Speaker 1: More as funeral will be held at St. Patrick's Theedral 146 00:08:00,600 --> 00:08:04,520 Speaker 1: this morning in Midtown Manhattan, followed by a burial in Woodside, 147 00:08:04,600 --> 00:08:08,600 Speaker 1: Queens This as, an off duty NYPD officer was shot 148 00:08:08,600 --> 00:08:12,160 Speaker 1: in Queen's last night he's expected to survive. In my 149 00:08:12,280 --> 00:08:15,400 Speaker 1: p D, Commissioner Keachin Seul talked about the latest shooting. 150 00:08:15,760 --> 00:08:19,440 Speaker 1: This young man was on his way to work, on 151 00:08:19,520 --> 00:08:23,119 Speaker 1: his way to protect New Yorkers from criminals. Commissioners Sewell 152 00:08:23,320 --> 00:08:27,120 Speaker 1: was alongside Mayor Eric Adams speaking to reporters. These offices 153 00:08:27,200 --> 00:08:30,080 Speaker 1: every day put on their uniform and a shill on 154 00:08:30,160 --> 00:08:33,400 Speaker 1: their chest, put their bulletproof fest on and go back 155 00:08:33,440 --> 00:08:36,760 Speaker 1: in the streets. With all of that frustration, they still 156 00:08:36,840 --> 00:08:40,240 Speaker 1: go back and do their job. Now it's time for 157 00:08:40,400 --> 00:08:43,800 Speaker 1: lawmakers to do their job. Mayor Adams is getting ready 158 00:08:43,800 --> 00:08:47,520 Speaker 1: to host President Biden tomorrow for a discussion about gun violence. 159 00:08:47,880 --> 00:08:52,040 Speaker 1: Russian President Vladimir Putin accused America and the West of 160 00:08:52,120 --> 00:08:57,440 Speaker 1: ignoring Moscow's security concerns in the Ukraine controversy. Secretary of 161 00:08:57,440 --> 00:09:01,199 Speaker 1: State Blincoln's speaking with Russian Foreign Minister lab Roth, says 162 00:09:01,280 --> 00:09:04,360 Speaker 1: it was time for Russia to start withdrawing its troops 163 00:09:04,360 --> 00:09:07,040 Speaker 1: from the border. No breakthrough, but the two agreed to 164 00:09:07,080 --> 00:09:10,240 Speaker 1: talk again. White House spokesperson Jen Psaki the door to 165 00:09:10,280 --> 00:09:14,600 Speaker 1: the plomacy remains open. We don't know what decision President 166 00:09:14,600 --> 00:09:18,720 Speaker 1: Putin will make. Spokesperson Jen Psaki a Democratic senator has 167 00:09:18,760 --> 00:09:22,400 Speaker 1: suffered a stroke. His doctors say u S Senator Ben Luhan, 168 00:09:22,520 --> 00:09:25,520 Speaker 1: who is forty nine, is expected to fully recover from 169 00:09:25,520 --> 00:09:28,400 Speaker 1: a stroke and surgery to produce swelling. However, with a 170 00:09:29,200 --> 00:09:31,959 Speaker 1: Senate it has put a number of Democratic lead votes 171 00:09:32,040 --> 00:09:35,520 Speaker 1: on hold for now. A major winner storm is expected 172 00:09:35,559 --> 00:09:38,199 Speaker 1: to affect a huge swath of the US, with heavy 173 00:09:38,200 --> 00:09:41,000 Speaker 1: snow starting in the Rockies and freezing rain as far 174 00:09:41,000 --> 00:09:43,480 Speaker 1: as south as Texas before it drops snow and ice 175 00:09:43,520 --> 00:09:47,280 Speaker 1: on the Midwest. Speaking of which, it is Groundhog Day. 176 00:09:47,880 --> 00:09:51,760 Speaker 1: People in Pennsylvania waiting to learn whether punksatani fill at 177 00:09:51,840 --> 00:09:55,640 Speaker 1: rodent but will predict an early spring or six more 178 00:09:55,720 --> 00:09:59,200 Speaker 1: weeks of winter. Global News twenty four hours a day 179 00:09:59,320 --> 00:10:04,880 Speaker 1: on air. I'm going for the winner and by more journalists, 180 00:10:04,880 --> 00:10:07,600 Speaker 1: analyst more than countries and Michael barrd this is Bloomberg 181 00:10:07,640 --> 00:10:09,840 Speaker 1: name it safe bet after all we've seen this winner. 182 00:10:09,880 --> 00:10:16,320 Speaker 1: Thanks Michael, and we're coming up to five ten on 183 00:10:16,360 --> 00:10:18,800 Speaker 1: Wall Street. Time for the Bloomberg Sports Update with John Stash. 184 00:10:19,080 --> 00:10:21,800 Speaker 1: Thanks day. Then, the greatest player ever retires and it 185 00:10:22,000 --> 00:10:24,480 Speaker 1: may not have been the biggest NFL story of the day. 186 00:10:24,520 --> 00:10:27,040 Speaker 1: Tom Brady made his retirement official in a lengthy post 187 00:10:27,120 --> 00:10:30,080 Speaker 1: on social media that curiously never mentioned the Patriots, but 188 00:10:30,440 --> 00:10:32,760 Speaker 1: you're canna expect Brady's number twelve to be retired at 189 00:10:32,760 --> 00:10:36,080 Speaker 1: a Pat's game next season. Tampa Bay now needs a quarterback. Meanwhile, 190 00:10:36,559 --> 00:10:39,920 Speaker 1: a lawsuit filed in Manhattan Federal Court by Brian Flores, 191 00:10:40,000 --> 00:10:42,320 Speaker 1: recently fired as the head coach of the Dolphins, excusing 192 00:10:42,360 --> 00:10:46,280 Speaker 1: the NFL and three teams Miami, Denver, and the Giants 193 00:10:46,320 --> 00:10:49,960 Speaker 1: of racism and their hiring practices. Flora said in two 194 00:10:50,000 --> 00:10:52,280 Speaker 1: thousand nineteen in Denver, just recently with the Giants, he 195 00:10:52,360 --> 00:10:54,280 Speaker 1: was interviewed for a head coaching job that he had 196 00:10:54,360 --> 00:10:57,120 Speaker 1: no chance of getting, and he offered as proof a 197 00:10:57,280 --> 00:10:59,800 Speaker 1: text he got last week from Bill Belichick, who apparently 198 00:11:00,040 --> 00:11:03,760 Speaker 1: mted to go to Brian dayball. He congratulated him on 199 00:11:03,800 --> 00:11:07,320 Speaker 1: getting the Giants job. It was before Flores even had 200 00:11:07,360 --> 00:11:10,480 Speaker 1: his interview. Perhaps most shocking, Lee Flora said, Dolphins owner 201 00:11:10,520 --> 00:11:13,560 Speaker 1: Stephen Ross offered to pay him more money if his 202 00:11:13,640 --> 00:11:16,480 Speaker 1: team lost so they could get a better draft pick. 203 00:11:16,920 --> 00:11:19,480 Speaker 1: Nets and Phoenix Sons of one forty of their last 204 00:11:19,520 --> 00:11:23,520 Speaker 1: forty six. They beat Brooklyn eleven, Devin Booker thirty five points. 205 00:11:23,600 --> 00:11:26,720 Speaker 1: Rangers at the Garden beat Florida five to two, more 206 00:11:26,760 --> 00:11:29,079 Speaker 1: goals both on the power play for Chris Cried are 207 00:11:29,080 --> 00:11:31,360 Speaker 1: now thirty three goals on the year, more than half 208 00:11:31,360 --> 00:11:33,319 Speaker 1: of those with the man advantage. Islanders back to five 209 00:11:33,400 --> 00:11:36,600 Speaker 1: hundred four one over Ottawa Devil sixth raight loss, beaten 210 00:11:36,600 --> 00:11:39,640 Speaker 1: by Toronto seven one. St. John's lost the biggest, leading 211 00:11:39,679 --> 00:11:43,000 Speaker 1: Providence eight six eighty two. Pash Alexander twenty nine points 212 00:11:43,000 --> 00:11:45,840 Speaker 1: of the red storm. Seaton Hall won at Georgetown. Rutgers 213 00:11:45,840 --> 00:11:48,440 Speaker 1: came from twenty four down to force overtime but lost 214 00:11:48,440 --> 00:11:52,320 Speaker 1: by a point. At Northwestern John stash Award Bloomberg Sports 215 00:11:52,360 --> 00:11:55,400 Speaker 1: Nathan all Right, John, thanks futures moving higher, SMP futures 216 00:11:55,480 --> 00:11:58,280 Speaker 1: up thirty four points a town futures that futures hired 217 00:11:58,280 --> 00:12:02,000 Speaker 1: by two hundred thirty six points ten your treasury yield one. 218 00:12:03,200 --> 00:12:09,120 Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather mix of 219 00:12:09,160 --> 00:12:11,880 Speaker 1: sun in clouds today with a high near forty five degrees, afternoon, 220 00:12:11,960 --> 00:12:15,240 Speaker 1: rain tomorrow, mid forties at rain a Lenda's wet sleet 221 00:12:15,400 --> 00:12:19,720 Speaker 1: or snow Friday with higher thirty five currently thirty four degrees. 222 00:12:21,880 --> 00:12:25,280 Speaker 1: Markets headlines, and breaking news twenty four hours a day 223 00:12:25,400 --> 00:12:29,480 Speaker 1: at Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktake, 224 00:12:29,720 --> 00:12:39,000 Speaker 1: This is a Bloomberg Business flash and I'm Karen Moscow. 225 00:12:39,080 --> 00:12:41,120 Speaker 1: And global stocks are headed for the biggest four day 226 00:12:41,200 --> 00:12:45,600 Speaker 1: rally since November of US DOT Index futures are jumping 227 00:12:45,880 --> 00:12:48,280 Speaker 1: as a con as companies from the US to Europe 228 00:12:48,280 --> 00:12:51,240 Speaker 1: report better than forecast earnings and dip fine continues and 229 00:12:51,320 --> 00:12:54,520 Speaker 1: technology shares. We check the markets every fifteen minutes throughout 230 00:12:54,559 --> 00:12:56,959 Speaker 1: the trading day on Bloomberg and right now, S and 231 00:12:57,040 --> 00:13:00,160 Speaker 1: P futures are up thirties seven points down. Future is 232 00:13:00,240 --> 00:13:04,240 Speaker 1: up fifty nasdack features up two hundred thirty five. That's 233 00:13:04,320 --> 00:13:07,360 Speaker 1: up one point six percent. The decks in Germany's up 234 00:13:07,400 --> 00:13:10,360 Speaker 1: half percent. Ten. Your treasury up to thirty seconds, you 235 00:13:10,400 --> 00:13:12,400 Speaker 1: had one point seven eight percent. They yield on the 236 00:13:12,440 --> 00:13:15,440 Speaker 1: two year one point one six percent. Nine. Mex screwed 237 00:13:15,480 --> 00:13:17,520 Speaker 1: oil is up a quarter percent, or twenty cents at 238 00:13:17,520 --> 00:13:19,960 Speaker 1: eighty eight dollars forty one cents a barrel. Co Mex 239 00:13:20,000 --> 00:13:22,160 Speaker 1: School the tenth of upper cent or two dollars fifty 240 00:13:22,240 --> 00:13:25,800 Speaker 1: cents at eighteen o four twenty announced the euro one 241 00:13:25,800 --> 00:13:28,320 Speaker 1: point one two nine seven against the dollar British found 242 00:13:28,360 --> 00:13:30,800 Speaker 1: one point three five four two, the ens at one 243 00:13:30,880 --> 00:13:33,920 Speaker 1: four teen point three six, and Bitcoin this morning moving 244 00:13:33,960 --> 00:13:37,600 Speaker 1: lower at thirty eight thousand, four hundred sixty dollars. That's 245 00:13:37,600 --> 00:13:40,120 Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more 246 00:13:40,200 --> 00:13:42,400 Speaker 1: on what's going on around the world. Munchael, Good morning, 247 00:13:42,480 --> 00:13:46,160 Speaker 1: Good morning, Karen. Us. Hospital admissions for COVID nineteen are 248 00:13:46,200 --> 00:13:49,559 Speaker 1: receiving in thirty four states and the nation's capital, easing 249 00:13:49,600 --> 00:13:53,280 Speaker 1: the healthcare staffing crisis that were widespread at the start 250 00:13:53,320 --> 00:13:56,760 Speaker 1: of the year. The World Health Organization warren countries, though 251 00:13:57,120 --> 00:14:01,880 Speaker 1: not to ease restrictions prematurely. For Miami Dolphins coach Brian 252 00:14:01,960 --> 00:14:05,920 Speaker 1: Flores is suing the NFL and three teams, including the Giants, 253 00:14:06,240 --> 00:14:09,920 Speaker 1: claiming quote the NFL is racially segregated and has managed 254 00:14:10,040 --> 00:14:14,319 Speaker 1: much like a plantation. The Dolphins fired Floors last month 255 00:14:14,400 --> 00:14:17,600 Speaker 1: after back to back winning seasons. The lawsuit even accuses 256 00:14:17,640 --> 00:14:20,520 Speaker 1: Dolphins owner Stephen Ross of offering to pay Floors a 257 00:14:20,600 --> 00:14:23,400 Speaker 1: hundred thousand dollars for every loss during the twenty nineteen 258 00:14:23,440 --> 00:14:27,360 Speaker 1: season to secure a higher draft pick in the NBA. 259 00:14:27,480 --> 00:14:31,440 Speaker 1: The Nets and Wizards lost, the Warriors one, NHL Action, 260 00:14:31,480 --> 00:14:34,120 Speaker 1: the Rangers, Islanders and Bruins one, the Capitol's one an 261 00:14:34,120 --> 00:14:37,440 Speaker 1: ot against the Penguins for three the Devil's lost. Global 262 00:14:37,480 --> 00:14:39,520 Speaker 1: News twenty four hours a day on air and on 263 00:14:39,600 --> 00:14:42,680 Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred 264 00:14:42,720 --> 00:14:45,880 Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr, 265 00:14:46,000 --> 00:14:48,240 Speaker 1: this is Bloomberg Naked Fine. Michael, thank you. We're coming 266 00:14:48,320 --> 00:14:50,120 Speaker 1: up to five twenty on Wall Street Life from the 267 00:14:50,160 --> 00:14:54,320 Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreaking. Michael Houston 268 00:14:54,440 --> 00:14:58,040 Speaker 1: joins US now chief Market analyst at CMC Markets. With 269 00:14:58,120 --> 00:15:01,640 Speaker 1: a definite risk on field, Michael, particularly if you're a 270 00:15:01,720 --> 00:15:04,440 Speaker 1: tech investor. I guess it doesn't hurt when the Google 271 00:15:04,480 --> 00:15:07,760 Speaker 1: parent Alphabet comes in with really solid earning. Spoken this 272 00:15:07,880 --> 00:15:12,600 Speaker 1: kind of momentum continue on the tech side. Um well, 273 00:15:12,640 --> 00:15:14,640 Speaker 1: I think I think that's a question that a lot 274 00:15:14,680 --> 00:15:17,320 Speaker 1: of people are currently asking. We've seen a fairly decent 275 00:15:17,440 --> 00:15:20,520 Speaker 1: rebound over the course of the past three or four days, 276 00:15:20,520 --> 00:15:22,800 Speaker 1: but I think the wider question is whether or not 277 00:15:23,120 --> 00:15:28,240 Speaker 1: markets of adequately priced in fed rate rise expectations, and ultimately, 278 00:15:28,280 --> 00:15:30,920 Speaker 1: I think one of the reasons why we've seen the 279 00:15:31,000 --> 00:15:36,400 Speaker 1: rebounding tech is because those FED members pushed back quite 280 00:15:36,560 --> 00:15:42,600 Speaker 1: significantly on the expectation of a not point five hiking 281 00:15:43,000 --> 00:15:47,880 Speaker 1: rates in March. And I also think market expectations around 282 00:15:47,960 --> 00:15:49,960 Speaker 1: the number of rate rises this year have become much 283 00:15:50,000 --> 00:15:52,640 Speaker 1: more realistic. You know what, I've heard an awful lot 284 00:15:52,640 --> 00:15:56,080 Speaker 1: of chatter about five, six or seven rate rises this year, 285 00:15:56,520 --> 00:15:58,320 Speaker 1: and I think a large part of the reason we 286 00:15:58,360 --> 00:16:00,200 Speaker 1: saw the sell off at the back end of Chaney 287 00:16:00,320 --> 00:16:03,080 Speaker 1: was because of concern about that. Now that we're out 288 00:16:03,080 --> 00:16:06,560 Speaker 1: of the quiet period and FED policy makers are an 289 00:16:06,600 --> 00:16:09,400 Speaker 1: awful lot more vocal, there's been pushed back on that now. 290 00:16:09,440 --> 00:16:12,360 Speaker 1: Of course, that could all change next week with the 291 00:16:12,480 --> 00:16:16,560 Speaker 1: US CPI number, But for the time being, I think 292 00:16:16,600 --> 00:16:20,920 Speaker 1: if ten y yields remain below one and two yields 293 00:16:20,960 --> 00:16:24,160 Speaker 1: remain below one point two, then I certainly think this 294 00:16:24,360 --> 00:16:28,480 Speaker 1: rally has got legs now. So the CPI number is probably, 295 00:16:29,000 --> 00:16:31,800 Speaker 1: from what I hear from you, the bigger focus as 296 00:16:31,800 --> 00:16:36,520 Speaker 1: opposed to the jobs report coming out on Friday. Yeah, 297 00:16:36,560 --> 00:16:39,520 Speaker 1: I mean Patrick Harker pushed back on that yesterday. We're 298 00:16:39,520 --> 00:16:42,680 Speaker 1: expecting a pretty poor report, and ultimately I think January, 299 00:16:42,760 --> 00:16:44,880 Speaker 1: I think a couple of years ago there's also a 300 00:16:44,920 --> 00:16:49,120 Speaker 1: disappointing number as well. Um in the in the when 301 00:16:49,120 --> 00:16:52,960 Speaker 1: we had similar problems with respect to a previous variant. 302 00:16:53,120 --> 00:16:57,080 Speaker 1: So we're coming out of the pandemic. Ultimately, I think 303 00:16:57,160 --> 00:17:00,160 Speaker 1: the FED thinks that we are at maximum employment. I 304 00:17:00,200 --> 00:17:03,080 Speaker 1: think a poor jobs report is priced in. It's much 305 00:17:03,120 --> 00:17:06,080 Speaker 1: more about inflation, and certainly I think that is the 306 00:17:06,080 --> 00:17:09,680 Speaker 1: clear and present concern for investors at the moment. I mean, 307 00:17:09,920 --> 00:17:13,000 Speaker 1: around about ten minutes ago we saw a you CPI 308 00:17:13,119 --> 00:17:15,960 Speaker 1: come out a new record hire five. Yeah. I was 309 00:17:16,000 --> 00:17:18,960 Speaker 1: going to ask you about that. Whether the ECB can 310 00:17:19,000 --> 00:17:23,800 Speaker 1: maintain it's a slower rate hike path with that kind 311 00:17:23,840 --> 00:17:28,560 Speaker 1: of record heart inflation coming in in the Eurozone, I 312 00:17:28,600 --> 00:17:30,280 Speaker 1: think what gives them a little bit of a get 313 00:17:30,280 --> 00:17:33,080 Speaker 1: out of jail free card on that. On that score, Nathan, 314 00:17:33,200 --> 00:17:35,920 Speaker 1: is the fact that core prices fell back from two 315 00:17:35,920 --> 00:17:38,879 Speaker 1: point six to two points three in January. But it 316 00:17:39,000 --> 00:17:41,760 Speaker 1: is a worry. I mean, you can't credibly argue that 317 00:17:41,840 --> 00:17:45,000 Speaker 1: the FED is behind the curve on inflation, while at 318 00:17:45,000 --> 00:17:48,000 Speaker 1: the same time I argue that the CBS and I mean, yes, 319 00:17:48,000 --> 00:17:51,320 Speaker 1: there are differences between the economies, but ultimately, I think 320 00:17:51,359 --> 00:17:54,040 Speaker 1: if the ECB is lagging behind the FED, which most 321 00:17:54,080 --> 00:17:56,920 Speaker 1: people acknowledge that it is, then we're likely to see 322 00:17:57,000 --> 00:18:00,480 Speaker 1: much more persistent inflation going forward. So I think Madame 323 00:18:00,560 --> 00:18:03,040 Speaker 1: Lagarde is going to find it very, very difficult to 324 00:18:03,200 --> 00:18:06,280 Speaker 1: hold the line on the transitory narrative when you've got 325 00:18:06,359 --> 00:18:09,679 Speaker 1: inflation in the Baltic states of around about ten or 326 00:18:09,720 --> 00:18:14,200 Speaker 1: twelve cp I offsetting against the weakend numbers that you're 327 00:18:14,240 --> 00:18:18,119 Speaker 1: seeing in Italy and Spain, which still is well above 328 00:18:18,200 --> 00:18:23,960 Speaker 1: the headline two target. So in a last minute here, Michael, 329 00:18:23,960 --> 00:18:27,520 Speaker 1: which sectors are you looking at to perform well in 330 00:18:27,560 --> 00:18:34,639 Speaker 1: this kind of elevated inflationary environment. Well, at the moment, 331 00:18:34,920 --> 00:18:37,080 Speaker 1: we've got a rising tide and appears to be lifting 332 00:18:37,080 --> 00:18:39,159 Speaker 1: all boats would have seen so far, as obviously the 333 00:18:39,240 --> 00:18:41,200 Speaker 1: energy sector. I mean, that's a no brainer. X on 334 00:18:41,320 --> 00:18:46,040 Speaker 1: mobiles numbers yesterday, we're I think a real standout, and 335 00:18:46,080 --> 00:18:48,240 Speaker 1: I think I'll be paying particular attention over the course 336 00:18:48,240 --> 00:18:51,320 Speaker 1: of the next couple of weeks to BP and shells 337 00:18:51,400 --> 00:18:53,919 Speaker 1: numbers over here, because they have been very disappointing and 338 00:18:53,960 --> 00:18:57,840 Speaker 1: those shares have lagged. Obviously telecoms as well. There's an 339 00:18:57,840 --> 00:19:00,560 Speaker 1: awful lot of M and A there to phone this 340 00:19:00,640 --> 00:19:04,280 Speaker 1: morning was slightly better than expected, so certainly be looking 341 00:19:04,359 --> 00:19:07,080 Speaker 1: for M and A activity in that particular sector as 342 00:19:07,119 --> 00:19:10,119 Speaker 1: well here in Europe. All right, interesting as always to 343 00:19:10,119 --> 00:19:13,159 Speaker 1: get your insights. Thanks for this, Michael. Michael Houston is 344 00:19:13,320 --> 00:19:18,480 Speaker 1: Chief market Analyst at CMC Markets. As tech really is 345 00:19:18,600 --> 00:19:21,400 Speaker 1: the focus this morning after the earnings we saw last 346 00:19:21,480 --> 00:19:26,200 Speaker 1: night from a Google parent Alphabet NASDAC futures are surging 347 00:19:26,400 --> 00:19:28,320 Speaker 1: this morning, up one and a half percent or two 348 00:19:28,640 --> 00:19:31,560 Speaker 1: D twenty seven points, leading the gains. Solid gains for 349 00:19:31,600 --> 00:19:34,040 Speaker 1: the SMP futures as well. They're up thirty six points 350 00:19:34,119 --> 00:19:36,720 Speaker 1: or eight tenths of one percent. DAL futures also in 351 00:19:36,760 --> 00:19:39,560 Speaker 1: the green, up fifty one points. That's a gain of 352 00:19:39,600 --> 00:19:42,320 Speaker 1: about one to two tenths of one percent. The tenure 353 00:19:42,320 --> 00:19:45,760 Speaker 1: treasury is up one thirty second yield one point seven 354 00:19:45,800 --> 00:19:47,840 Speaker 1: eight percent on the tenure note and the yield on 355 00:19:47,880 --> 00:19:50,440 Speaker 1: the two year right now one point one six percent. 356 00:19:51,119 --> 00:19:53,679 Speaker 1: The docks in Germany CAC in Paris both up a 357 00:19:53,720 --> 00:19:57,920 Speaker 1: half percent after that record five point one percent inflation 358 00:19:58,000 --> 00:20:00,800 Speaker 1: print out of the euro zones day with us for more. 359 00:20:00,880 --> 00:20:08,360 Speaker 1: You're listening to Bloomberg Daybreak. Bloomberg day Break is brought 360 00:20:08,359 --> 00:20:10,399 Speaker 1: to you by the Breakers. This winter, a warm welcome 361 00:20:10,400 --> 00:20:12,640 Speaker 1: awaits you. The Breakers is committed to making your stay 362 00:20:12,640 --> 00:20:16,360 Speaker 1: even better with exceptional experiences, gracious service, and unparalleled sea 363 00:20:16,400 --> 00:20:18,760 Speaker 1: side glamer. To learn more, visit the Breakers dot com. 364 00:20:18,800 --> 00:20:26,040 Speaker 1: Today broadcasting live from the Bloomberg Interactive Broker Studio in 365 00:20:26,119 --> 00:20:29,119 Speaker 1: New York, Bloomberg E Living free to Washington, d C, 366 00:20:29,320 --> 00:20:33,040 Speaker 1: Bloomberg N one to Boston, Bloomberg one O six one 367 00:20:33,119 --> 00:20:36,600 Speaker 1: to San Francisco, Bloomberg nine six to the country, Sirius 368 00:20:36,760 --> 00:20:39,920 Speaker 1: XM chto one nineteen and around the globe, the Bloomberg 369 00:20:39,960 --> 00:20:44,400 Speaker 1: Business APT and Bloomberg Radio dot Com. This is Bloomberg Daybreak. 370 00:20:50,280 --> 00:20:52,440 Speaker 1: It's fine thirty on Wall Street. Good morning. I'm Nathan 371 00:20:52,440 --> 00:20:55,680 Speaker 1: Hager and I'm kerin Moscow. We are just about four 372 00:20:55,840 --> 00:20:58,480 Speaker 1: hours away from the open of US trading. Let's get 373 00:20:58,520 --> 00:20:59,760 Speaker 1: you up to date on the news you need to 374 00:20:59,800 --> 00:21:02,000 Speaker 1: know this hour and now. As the future is higher 375 00:21:02,119 --> 00:21:05,520 Speaker 1: this morning, building on three straight days of gains. The 376 00:21:05,600 --> 00:21:09,280 Speaker 1: catalyst this morning strong earnings from alphabet Angelo Zeno is 377 00:21:09,320 --> 00:21:11,880 Speaker 1: an analyst at cf A, you know, kind of going 378 00:21:11,920 --> 00:21:13,440 Speaker 1: into the quarter, I think there might have been some 379 00:21:13,480 --> 00:21:16,480 Speaker 1: concerns about some of the supply constraints going on the 380 00:21:16,520 --> 00:21:19,640 Speaker 1: market and potentially hindering some of the ad spend out there. 381 00:21:19,680 --> 00:21:21,600 Speaker 1: But kind of look at the search business and I 382 00:21:21,600 --> 00:21:23,639 Speaker 1: think that's really kind of the big winner here of 383 00:21:24,280 --> 00:21:27,119 Speaker 1: percent and really kind of blew our numbers away. C 384 00:21:27,400 --> 00:21:30,119 Speaker 1: f r A analyst Angelo Zeno says a stock split 385 00:21:30,200 --> 00:21:33,040 Speaker 1: is also lifting Alphabet shares. The company will increase its 386 00:21:33,040 --> 00:21:36,440 Speaker 1: outstanding shares by a twenty to one ratio. Another high 387 00:21:36,480 --> 00:21:39,040 Speaker 1: tech companies rollying this morning, Karen Shares of a M 388 00:21:39,160 --> 00:21:41,440 Speaker 1: d Or up eleven and a half percent. The ship 389 00:21:41,480 --> 00:21:44,760 Speaker 1: maker gave us surprisingly strong sales forecast, suggesting it's making 390 00:21:44,800 --> 00:21:49,080 Speaker 1: further gains on rival Intel. Facebook reports this afternoon General 391 00:21:49,160 --> 00:21:52,119 Speaker 1: motors of nearly one percent in the pre market. Nathan 392 00:21:52,119 --> 00:21:54,960 Speaker 1: the company's earnings BEATA estimates, while its forecast was in 393 00:21:55,000 --> 00:21:59,040 Speaker 1: line with predictions. GMC's a semi conductor shortage easing this year, 394 00:21:59,080 --> 00:22:02,080 Speaker 1: but says lower volume ven higher costs will restrain profit. 395 00:22:02,400 --> 00:22:04,879 Speaker 1: Obside of corporate earnings, a measured ton from the FED 396 00:22:05,119 --> 00:22:08,120 Speaker 1: is also boosting stocks we get that story live from Bloomberg. 397 00:22:08,200 --> 00:22:10,800 Speaker 1: Rinia Young, Good morning, Granita, Good morning Nathan. Central Bank 398 00:22:10,800 --> 00:22:13,640 Speaker 1: officials are laying out a gradual approach to the path 399 00:22:13,760 --> 00:22:16,639 Speaker 1: for rate hikes this year. That differs from some Wall 400 00:22:16,680 --> 00:22:20,159 Speaker 1: Street forecasts, which include as many as seven rate hikes 401 00:22:20,160 --> 00:22:23,440 Speaker 1: this year and even a fifty basis point height next month. 402 00:22:23,840 --> 00:22:26,359 Speaker 1: So far, none of the Fed officials speaking this week 403 00:22:26,359 --> 00:22:28,640 Speaker 1: have backed the idea of such an increase in March. 404 00:22:29,080 --> 00:22:31,800 Speaker 1: The most hawkish of them all St. Louis Fed President 405 00:22:31,880 --> 00:22:34,760 Speaker 1: James Buller's says five hikes is quote not too bad 406 00:22:34,760 --> 00:22:38,280 Speaker 1: a bet. Kansas City Fed Chief Esther George is another 407 00:22:38,320 --> 00:22:42,160 Speaker 1: hawk and she says ideally the Fed prefers to go gradually. 408 00:22:42,640 --> 00:22:45,399 Speaker 1: Live in New York. I'm Rania Young, Bloomberg daybreak. I 409 00:22:45,480 --> 00:22:47,640 Speaker 1: mean to thank you. Oil trading near a seven year 410 00:22:47,720 --> 00:22:49,960 Speaker 1: high ahead of an OUTPAG plus meeting. Oh Pack and 411 00:22:50,000 --> 00:22:53,080 Speaker 1: its allies are expected to approve another modest oil output 412 00:22:53,119 --> 00:22:55,760 Speaker 1: increase today. At the same time, they'll have to struggle 413 00:22:55,840 --> 00:22:58,399 Speaker 1: to deliver and checking oil right now. And I'm ex screwed. 414 00:22:58,400 --> 00:23:00,679 Speaker 1: Oils have a quarter per center to need two cents 415 00:23:00,880 --> 00:23:03,400 Speaker 1: and eighty eight dollars forty two cents of Darrel. Brent 416 00:23:03,840 --> 00:23:05,600 Speaker 1: is up a tenth of a percent at eighty nine 417 00:23:05,640 --> 00:23:09,800 Speaker 1: dollars twenty seven cents, and again, futures are on the rise. 418 00:23:09,960 --> 00:23:12,600 Speaker 1: S and P Future is up thirty seven points down 419 00:23:12,600 --> 00:23:16,159 Speaker 1: Future is up fifty four nasdack Futures jumping up two 420 00:23:16,280 --> 00:23:19,720 Speaker 1: hundred thirty seven points. That's up one point six percent. 421 00:23:20,040 --> 00:23:23,040 Speaker 1: Tenure Treasury little change, he'd one point seven eight percent, 422 00:23:23,119 --> 00:23:25,520 Speaker 1: and they yield on the two year one point one 423 00:23:25,640 --> 00:23:28,280 Speaker 1: seven percent and the euro one point one three oh 424 00:23:28,320 --> 00:23:31,000 Speaker 1: five against the dollar. Straight ahead, your latest local headlines 425 00:23:31,080 --> 00:23:38,440 Speaker 1: plus the check of sports, and this is Bloomberg. He's 426 00:23:38,480 --> 00:23:41,120 Speaker 1: caring on Wall Street thirty five degrees in Central Park. 427 00:23:41,160 --> 00:23:42,960 Speaker 1: They've cleared the crash on westbound l I E and 428 00:23:43,040 --> 00:23:45,840 Speaker 1: Maurice Avenue. Details coming up in traffic. First Michael Arr 429 00:23:45,880 --> 00:23:47,280 Speaker 1: with what else is going on in New York and 430 00:23:47,320 --> 00:23:49,840 Speaker 1: around the world. Michael, thank you very much. Nathan. Funeral 431 00:23:49,920 --> 00:23:52,159 Speaker 1: services will take place today for n y p D 432 00:23:52,280 --> 00:23:55,720 Speaker 1: officer Wilbert Mora. The twenty seven year old was killed 433 00:23:55,720 --> 00:23:57,680 Speaker 1: in the line of duty last month, along with his 434 00:23:57,760 --> 00:24:01,440 Speaker 1: partner Jason Rivera. More will be buried in Queens after 435 00:24:01,520 --> 00:24:05,320 Speaker 1: services in St. Patrick's Cathedral in Manhattan. This as an 436 00:24:05,320 --> 00:24:08,560 Speaker 1: off duty NYPD officer was shot in Queen's last night. 437 00:24:08,680 --> 00:24:12,720 Speaker 1: He's expected to survive. Tomorrow, Mayor Eric Adams will host 438 00:24:12,800 --> 00:24:16,399 Speaker 1: President Biden for a discussion about gun violence. We're going 439 00:24:16,520 --> 00:24:21,639 Speaker 1: to lay out clear items we need on the federal level, 440 00:24:22,119 --> 00:24:27,480 Speaker 1: just as we did with state lawmakers. Everyone must be 441 00:24:28,080 --> 00:24:31,959 Speaker 1: on the same team. Adams will also be joined by 442 00:24:32,080 --> 00:24:35,920 Speaker 1: New York Governor Kathy Hocole and other elected officials. Russian 443 00:24:35,960 --> 00:24:38,679 Speaker 1: President Vladimir Putin is breaking his silence on the u 444 00:24:38,760 --> 00:24:42,480 Speaker 1: S military support for Ukraine. Putin accused the US and 445 00:24:42,720 --> 00:24:46,359 Speaker 1: the West of ignoring Moscow's security concerns. Why now, spokesperson 446 00:24:46,440 --> 00:24:49,200 Speaker 1: Jan Saki, We don't know what President Putin is going 447 00:24:49,240 --> 00:24:53,160 Speaker 1: to do uh and it is our responsibility to UM 448 00:24:53,920 --> 00:24:57,520 Speaker 1: and it's an imperative to keep the door to diplomacy 449 00:24:57,560 --> 00:25:01,680 Speaker 1: open right now. Spokesperson Jen sak Fiser is asking US 450 00:25:01,760 --> 00:25:05,359 Speaker 1: regulators to authorize extra low doses of its COVID nineteen 451 00:25:05,480 --> 00:25:08,800 Speaker 1: vaccine for children under five. The move could open the 452 00:25:08,840 --> 00:25:11,879 Speaker 1: way for the very youngest Americans to start receiving shots 453 00:25:11,920 --> 00:25:15,160 Speaker 1: by early March. The FBI is warning of cyber attacks 454 00:25:15,200 --> 00:25:18,560 Speaker 1: aimed at disrupting the Beijing Olympics, Bloomberg's head Baxter reports. 455 00:25:19,160 --> 00:25:22,320 Speaker 1: The FBI warning says the targets will be entities associated 456 00:25:22,359 --> 00:25:25,560 Speaker 1: with the Olympics and that they could have activities disrupted 457 00:25:25,560 --> 00:25:30,639 Speaker 1: by a broad range of cyber movements. It warns of ransomware, malware, 458 00:25:31,040 --> 00:25:37,280 Speaker 1: social engineering, data theft, phishing campaigns, and disinformation campaigns. The 459 00:25:37,359 --> 00:25:40,040 Speaker 1: FBI is also sending a follow up reminder to those 460 00:25:40,080 --> 00:25:43,080 Speaker 1: traveling that they could be the targets of mobile phone 461 00:25:43,080 --> 00:25:47,280 Speaker 1: attacks as well. In San Francisco, I'm at Baxter, Bloomberg 462 00:25:47,320 --> 00:25:49,439 Speaker 1: Gay Break Global News twenty four hours a day on 463 00:25:49,560 --> 00:25:52,480 Speaker 1: airand on Bloomberg Quick Take, powered by more than twenty 464 00:25:52,520 --> 00:25:55,360 Speaker 1: seven journalists and analysts more than a hundred twenty countries 465 00:25:55,359 --> 00:26:03,720 Speaker 1: on Michael Barr, This is Bloomberg, Nathan. Thanks Michael wall Street. 466 00:26:03,760 --> 00:26:06,280 Speaker 1: John Stas got the Bloomberg Sports update all right, Nathan. 467 00:26:06,280 --> 00:26:09,560 Speaker 1: It was in two thousand fourteen that the Patriots, sensing 468 00:26:09,640 --> 00:26:12,000 Speaker 1: that Tom Brady, then thirty seven, was nearing the end 469 00:26:12,000 --> 00:26:15,320 Speaker 1: of his brilliant career, drafted a quarterback to replace him, 470 00:26:15,359 --> 00:26:19,280 Speaker 1: Jimmy Garoppolo. Brady said back then when he stinks till retire. 471 00:26:19,320 --> 00:26:22,640 Speaker 1: He's now forty four, he is retiring, but he never 472 00:26:22,680 --> 00:26:25,120 Speaker 1: did stunt. In fact, Brady's final season with Tampa Bay 473 00:26:25,160 --> 00:26:27,359 Speaker 1: with one of his best over fifty three hundred passing 474 00:26:27,440 --> 00:26:30,000 Speaker 1: yards forty three touchdown It's gonna be very hard for 475 00:26:30,040 --> 00:26:33,560 Speaker 1: anyone to break Brady's records. He's got a hundred seventy 476 00:26:33,560 --> 00:26:37,240 Speaker 1: four more touchdown passes than any active QB. Garoppolo never 477 00:26:37,280 --> 00:26:39,480 Speaker 1: did replace Brady in New England. Maybe he'll do it 478 00:26:39,520 --> 00:26:42,000 Speaker 1: now with Tampa Bay. At the forty, Niners expected to 479 00:26:42,040 --> 00:26:45,720 Speaker 1: trade Garoppolo stunning allegations made by Brian Flores in the 480 00:26:45,840 --> 00:26:48,159 Speaker 1: lawsuit he filed in Manhattan Federal Court at US in 481 00:26:48,160 --> 00:26:52,040 Speaker 1: the NFL and three teams of racism in their hiring practices. 482 00:26:52,080 --> 00:26:54,800 Speaker 1: Not only that the Broncos in two thousand nineteen and 483 00:26:54,880 --> 00:26:58,000 Speaker 1: the Giants recently interviewed him for a head coaching job 484 00:26:58,040 --> 00:27:00,080 Speaker 1: they knew they were not going to offer to in 485 00:27:00,160 --> 00:27:03,120 Speaker 1: but that in Florida's first season as head coach in Miami, 486 00:27:03,200 --> 00:27:06,479 Speaker 1: owner Stephen Ross offered him a hundred thousand dollars for 487 00:27:06,600 --> 00:27:10,280 Speaker 1: each loss. He says Ross wanted to lose so they'd 488 00:27:10,280 --> 00:27:14,040 Speaker 1: get a better draft pick Nets lost in Phoenix one eleven. 489 00:27:14,080 --> 00:27:16,680 Speaker 1: Devin Booker scored thirty five. The Sons are an NBA 490 00:27:16,760 --> 00:27:19,680 Speaker 1: best forty one and nine Rangers at the card and 491 00:27:19,720 --> 00:27:21,960 Speaker 1: be Florida five to two. More power play goals for 492 00:27:22,040 --> 00:27:25,240 Speaker 1: Chris Pryter or Tammy Panarina goal to assist Islanders beat 493 00:27:25,280 --> 00:27:28,960 Speaker 1: Ottawa four to one. Devil's lost at Toronto seven one St. 494 00:27:29,000 --> 00:27:31,359 Speaker 1: John's near they pulled off an upset, fell short to 495 00:27:31,400 --> 00:27:35,080 Speaker 1: bigg East leading Providence eight eighty two. Seaton all being 496 00:27:35,119 --> 00:27:39,680 Speaker 1: Georgetown Rutgers lost in overtime at Northwestern. John Stash Award 497 00:27:39,720 --> 00:27:42,960 Speaker 1: Bloomberg Sports Nathan thanks John thirty seven on Wall Street 498 00:27:42,960 --> 00:27:45,800 Speaker 1: Time for the Tri State Business Report. Here's Bloomberg's head Cory. 499 00:27:46,200 --> 00:27:48,359 Speaker 1: New York City is home to the most well funded 500 00:27:48,400 --> 00:27:52,160 Speaker 1: crypto startups in the US. Last year, the city attracted 501 00:27:52,200 --> 00:27:55,000 Speaker 1: six and a half billion dollars forty six percent of 502 00:27:55,040 --> 00:27:59,600 Speaker 1: funding to blockchain or crypto centric companies, according to CB Insights. 503 00:28:00,040 --> 00:28:03,240 Speaker 1: New York Digital Investment Group and Celsius Network led the 504 00:28:03,240 --> 00:28:07,040 Speaker 1: pack of New York firms. New York City's property tax 505 00:28:07,080 --> 00:28:10,480 Speaker 1: system was built a favorite single family homeowners over renters 506 00:28:10,560 --> 00:28:14,040 Speaker 1: or commercial buildings. Hundreds of residents last year asked the 507 00:28:14,080 --> 00:28:17,560 Speaker 1: city to change the law, as spiraling prices force some 508 00:28:17,680 --> 00:28:21,439 Speaker 1: longtime city dwellers into debt and others to consider leaving. 509 00:28:21,920 --> 00:28:24,800 Speaker 1: Mayor Eric Adams has a bound to prioritize the issue. 510 00:28:25,320 --> 00:28:28,120 Speaker 1: More than three hundred thousand New Jersey residents have signed 511 00:28:28,200 --> 00:28:31,000 Speaker 1: up for health insurance online at get Covered in j 512 00:28:31,280 --> 00:28:35,199 Speaker 1: dot gov. More consumers signed up for marketplace coverage than 513 00:28:35,280 --> 00:28:38,600 Speaker 1: during any prior open enrollment period since passage of the 514 00:28:38,640 --> 00:28:42,280 Speaker 1: Affordable Care Act. That your Bloomberg Tries State Business Report. 515 00:28:42,360 --> 00:28:45,320 Speaker 1: I'm in Corey on Wall Street time out to check 516 00:28:45,360 --> 00:28:46,960 Speaker 1: in with our global news team on some of the 517 00:28:47,000 --> 00:28:49,840 Speaker 1: top stories heard on our three hundred affiliate radio stations 518 00:28:49,880 --> 00:28:55,760 Speaker 1: around the world. I'm Steve Potas and on Chence head 519 00:28:55,760 --> 00:28:58,920 Speaker 1: Wins in New York. We're talking about big bonuses bringing 520 00:28:58,960 --> 00:29:02,520 Speaker 1: back the good old as on Wall Street. UM corney 521 00:29:02,560 --> 00:29:05,800 Speaker 1: Danaho on who Who in Fort Wayne General Motors says 522 00:29:05,960 --> 00:29:08,400 Speaker 1: the chip shortage will start to diminish in the second 523 00:29:08,400 --> 00:29:11,080 Speaker 1: half of the year. I'm Caroline hit called Bob Dave 524 00:29:11,280 --> 00:29:14,600 Speaker 1: Dishomadium in London. Women boarding on a two million pound 525 00:29:14,680 --> 00:29:18,880 Speaker 1: award for eight female BMP PIVA employee and a London 526 00:29:18,960 --> 00:29:23,200 Speaker 1: Employment tribunal as an unprecedented order having the bank to 527 00:29:23,320 --> 00:29:27,560 Speaker 1: conduct agenda payodit I mid Cory on w w J 528 00:29:27,680 --> 00:29:30,640 Speaker 1: in Detroit, Diimer boarding general motors he signed of been 529 00:29:30,680 --> 00:29:33,760 Speaker 1: easing in the computer chip shortage. Those are some of 530 00:29:33,760 --> 00:29:37,080 Speaker 1: the stories our Bloomberg journalist and analyst working on this 531 00:29:37,200 --> 00:29:39,800 Speaker 1: morning around the world. It's thirty nine on Wall Street. 532 00:29:40,040 --> 00:29:44,400 Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial 533 00:29:44,560 --> 00:29:48,040 Speaker 1: was written by the Bloomberg Editorial Board. Since the early 534 00:29:48,120 --> 00:29:51,400 Speaker 1: days of the pandemic, the U. S. Government has suspended 535 00:29:51,480 --> 00:29:56,440 Speaker 1: payment requirements for federal student loans. During the omicron wave, 536 00:29:56,720 --> 00:30:00,600 Speaker 1: President Joe Biden once again extended the pause, the fifth 537 00:30:00,800 --> 00:30:03,760 Speaker 1: such delay in less than two years. He should make 538 00:30:03,800 --> 00:30:07,760 Speaker 1: it the last. Pausing student loan payments made sense at 539 00:30:07,760 --> 00:30:09,840 Speaker 1: the height of the pandemic, when much of the U. S. 540 00:30:09,920 --> 00:30:15,000 Speaker 1: Economy had shut down. There's less justification now. Some Biden 541 00:30:15,040 --> 00:30:18,280 Speaker 1: allies are pushing the White House to extend the pause 542 00:30:18,480 --> 00:30:23,800 Speaker 1: again or to cancel student loan debt altogether before payments 543 00:30:23,880 --> 00:30:28,400 Speaker 1: are set to resume in May. Biden should refuse. Doing 544 00:30:28,480 --> 00:30:32,760 Speaker 1: so made disappoint progressives, but it would promote fairness, cut 545 00:30:32,800 --> 00:30:38,400 Speaker 1: the government's losses, and reduce uncertainty for borrowers themselves. This 546 00:30:38,640 --> 00:30:42,400 Speaker 1: editorial was written by the Bloomberg Editorial Board. For more 547 00:30:42,480 --> 00:30:46,320 Speaker 1: Bloomberg opinion, please go to Bloomberg dot com, slash opinion 548 00:30:46,480 --> 00:30:50,240 Speaker 1: or ope i n go on the Bloomberg terminal. This 549 00:30:50,480 --> 00:30:54,280 Speaker 1: has been Bloomberg Opinion. Listen for Bloomberg opinion editorials every 550 00:30:54,280 --> 00:30:57,160 Speaker 1: week at this time. Terminal customers can read more at 551 00:30:57,200 --> 00:31:00,920 Speaker 1: opi n go. SMP futures right now thirty seven point 552 00:31:00,960 --> 00:31:04,160 Speaker 1: style features up sixty nine, Nasdaq futures higher by two 553 00:31:04,280 --> 00:31:06,520 Speaker 1: hundred twenty eight points, a gain of one and a 554 00:31:06,520 --> 00:31:09,440 Speaker 1: half percent on the heels of Google earnings. Shares of 555 00:31:09,520 --> 00:31:13,840 Speaker 1: Alphabet up almost eleven percent. We'll talk tech next with 556 00:31:14,000 --> 00:31:23,080 Speaker 1: Angelo Zeno of cf r A. This is Bloomberg, Bloomberg 557 00:31:23,080 --> 00:31:25,080 Speaker 1: eleven three oh Weather cloud some sun at times at 558 00:31:25,160 --> 00:31:28,840 Speaker 1: mid forties for an afternoon high, afternoon rain tomorrow high 559 00:31:28,880 --> 00:31:31,360 Speaker 1: your forty five degrees. That rain condend is wet, snow 560 00:31:31,480 --> 00:31:33,560 Speaker 1: or sleet on Friday with a high in your thirty 561 00:31:33,600 --> 00:31:40,200 Speaker 1: five degrees. Markets, headlines and breaking news twenty four hours 562 00:31:40,200 --> 00:31:43,200 Speaker 1: a day at Bloomberg dot Com, for Bloomberg Business at 563 00:31:43,280 --> 00:31:53,120 Speaker 1: and at Bloomberg QUICKTAKEE. He's a Bloomberg Business Flash and 564 00:31:53,240 --> 00:31:55,960 Speaker 1: I'm Karen Moscow. Global stocks heading for the biggest four 565 00:31:56,040 --> 00:32:00,720 Speaker 1: day rally since November. US stock index futures are jumping 566 00:32:00,760 --> 00:32:03,240 Speaker 1: as companies from the US to Europe report better than 567 00:32:03,280 --> 00:32:07,600 Speaker 1: forecast earnings, and dip bine continues in technology shares. We 568 00:32:07,720 --> 00:32:10,160 Speaker 1: check the markets every fifteen minutes throughout the trading day 569 00:32:10,240 --> 00:32:12,600 Speaker 1: on Bloomberg Right now, S and P futures are up 570 00:32:12,600 --> 00:32:16,880 Speaker 1: thirty three points now futures of fifty two Nasdaq futures 571 00:32:16,880 --> 00:32:19,680 Speaker 1: are up two hundred eleven or one point four percent. 572 00:32:20,000 --> 00:32:22,520 Speaker 1: The decks in Germany's up half percent. The ten year 573 00:32:22,560 --> 00:32:25,640 Speaker 1: treasury down to thirty seconds yield one point seven nine percent, 574 00:32:25,960 --> 00:32:28,600 Speaker 1: yield on the two year one point one seven percent 575 00:32:29,000 --> 00:32:31,320 Speaker 1: nine x screwed oil of four ten percent or thirty 576 00:32:31,320 --> 00:32:33,760 Speaker 1: four cents at eighty eight dollars fifty four cents of barrel. 577 00:32:33,960 --> 00:32:35,960 Speaker 1: Comics called up tenth of a percent of a dollar 578 00:32:36,040 --> 00:32:39,120 Speaker 1: seventy at eighteen o three twenty announced the euro one 579 00:32:39,120 --> 00:32:41,760 Speaker 1: point one three one zero against the dollar. British found 580 00:32:41,760 --> 00:32:44,320 Speaker 1: one point three five eight a en is at one 581 00:32:44,400 --> 00:32:47,720 Speaker 1: fourteen point four one, and Bitcoin this morning moving lower 582 00:32:48,080 --> 00:32:51,560 Speaker 1: at thirty eight thousand, five hundred fifty dollars. That's a 583 00:32:51,600 --> 00:32:54,440 Speaker 1: Bloomberg business flash. Now here's Michael lar with more unless 584 00:32:54,520 --> 00:32:57,240 Speaker 1: going on around the world. Michael here in in Virginia's 585 00:32:57,280 --> 00:33:00,600 Speaker 1: students and staff at Bridgewater College ark in morning after 586 00:33:00,640 --> 00:33:03,560 Speaker 1: two security officers were shot to death. The suspects and 587 00:33:03,600 --> 00:33:07,280 Speaker 1: custody fired. Miami Dolphins coach Brian Flores has sued the 588 00:33:07,360 --> 00:33:11,080 Speaker 1: NFL and three teams, including the Giants, alleging races hiring 589 00:33:11,120 --> 00:33:14,640 Speaker 1: practices by the league. The Washington Football team will announce 590 00:33:14,640 --> 00:33:17,920 Speaker 1: its new name and logo today. NBA the Nets and 591 00:33:17,960 --> 00:33:21,240 Speaker 1: Wizards lost, the Warriors one, NHL, the Rangers, Islanders and 592 00:33:21,280 --> 00:33:24,320 Speaker 1: Bruins one, the Capitol's one, and OT the Devil's Lost. 593 00:33:24,320 --> 00:33:26,920 Speaker 1: Global News twenty four hours a day on air and 594 00:33:27,040 --> 00:33:29,440 Speaker 1: on Bloomberg Quickdake, powered by more than twenty seven hundre 595 00:33:29,520 --> 00:33:31,960 Speaker 1: journalists and analysts more than a d twenty countries. I'm 596 00:33:31,960 --> 00:33:34,440 Speaker 1: Michael bar This is Bloomberg Naked. Thanks Michael. It's five 597 00:33:34,520 --> 00:33:36,840 Speaker 1: forty eight on Wall Street Life from the Bloomberg Interactive 598 00:33:36,840 --> 00:33:40,320 Speaker 1: Broker Studios This is Bloomberg Daybreak with tech earnings in 599 00:33:40,600 --> 00:33:44,000 Speaker 1: focus this morning. As we see the surgeon nastac futures, 600 00:33:44,280 --> 00:33:47,800 Speaker 1: we are continuing to keep our eyes on alphabet shares. 601 00:33:47,920 --> 00:33:51,800 Speaker 1: The parent Google of the parent company of Google is 602 00:33:51,880 --> 00:33:54,880 Speaker 1: up more than ten percent on sales and profits the 603 00:33:54,920 --> 00:33:57,800 Speaker 1: top estimates, even in the face of a Macron. Let's 604 00:33:57,840 --> 00:34:00,280 Speaker 1: get more on the tech story. Angelo Zeno with a 605 00:34:00,360 --> 00:34:03,720 Speaker 1: senior industry analyst at c f R A Angelo, A 606 00:34:03,840 --> 00:34:06,880 Speaker 1: thirty three percent jump and AD sales is nothing to 607 00:34:06,920 --> 00:34:11,279 Speaker 1: shake a stick at. Yeah, I know absolutely. I mean, listen, 608 00:34:11,560 --> 00:34:14,279 Speaker 1: the search business growing up, I think about thirty six 609 00:34:14,320 --> 00:34:17,400 Speaker 1: percent here, um, as well as you know, great results 610 00:34:17,440 --> 00:34:21,000 Speaker 1: across other segments as well. You've got to kind of 611 00:34:21,360 --> 00:34:24,440 Speaker 1: be be pretty happy with where um. You know, the 612 00:34:24,480 --> 00:34:27,400 Speaker 1: digital add growth is coming from here. I think you know, 613 00:34:27,800 --> 00:34:31,319 Speaker 1: the company likely somewhat of a beneficiary from Apple's recent 614 00:34:31,400 --> 00:34:35,400 Speaker 1: privacy changes here. But you know all said, um, you know, 615 00:34:35,520 --> 00:34:38,839 Speaker 1: increased budgets here from within the enterprise space as kind 616 00:34:38,880 --> 00:34:42,799 Speaker 1: of the economy reopens. Um, this company is just kind 617 00:34:42,840 --> 00:34:45,800 Speaker 1: of um firing on all cylinders. To to be honest 618 00:34:45,840 --> 00:34:48,440 Speaker 1: with you, you can't continue to fire on all cylinders. 619 00:34:48,560 --> 00:34:52,279 Speaker 1: Is it being a beneficiary as well of the continued 620 00:34:52,800 --> 00:34:58,240 Speaker 1: COVID pandemic and a lot of Internet users still spending 621 00:34:58,280 --> 00:35:03,399 Speaker 1: more time online simply because they have more of that time. Well, 622 00:35:03,520 --> 00:35:05,960 Speaker 1: you know, I think it's interesting in the sense that 623 00:35:06,280 --> 00:35:08,560 Speaker 1: you know, this is a company that's going to benefit from, 624 00:35:08,800 --> 00:35:12,600 Speaker 1: you know, whether we're seeing a prolonged pandemic or if 625 00:35:12,680 --> 00:35:15,759 Speaker 1: this economy reopens. And again, you know, we kind of 626 00:35:15,800 --> 00:35:18,640 Speaker 1: see increased travel spend and what have you. And at 627 00:35:18,680 --> 00:35:21,200 Speaker 1: the end of the day, what happens is um, you know, 628 00:35:21,280 --> 00:35:24,480 Speaker 1: we're just seeing more and more advertisers just continue to 629 00:35:24,840 --> 00:35:28,680 Speaker 1: shift their spend online. And that's not a trend that's 630 00:35:28,719 --> 00:35:31,760 Speaker 1: going to stop. If anything, it's accelerated here during the pandemic. 631 00:35:32,200 --> 00:35:35,120 Speaker 1: And while we expect some deceleration of growth here in 632 00:35:36,880 --> 00:35:39,759 Speaker 1: three let's call it mid teams growth. Um. You know, 633 00:35:39,880 --> 00:35:45,399 Speaker 1: the the the secular drivers remain intact um and again, 634 00:35:45,480 --> 00:35:50,960 Speaker 1: the digital ad spend will increasingly come towards growth towards Alphabet. 635 00:35:51,520 --> 00:35:54,040 Speaker 1: Obviously a lot of attention as well on the announcement 636 00:35:54,040 --> 00:35:58,600 Speaker 1: of a one stock split. What's Alphab doing with that? Yeah, 637 00:35:58,680 --> 00:36:00,440 Speaker 1: I mean, listen, I think there are a lot of 638 00:36:00,480 --> 00:36:02,600 Speaker 1: investors that kind of get hyped up when you kind 639 00:36:02,600 --> 00:36:05,239 Speaker 1: of see an announcement like that. I mean us being 640 00:36:05,280 --> 00:36:08,360 Speaker 1: a fundamental a house. Um, Listen, it doesn't really have 641 00:36:08,440 --> 00:36:10,239 Speaker 1: an impact on kind of how we look at the 642 00:36:10,280 --> 00:36:13,439 Speaker 1: stock or our recommendation on the name. But that being said, 643 00:36:13,640 --> 00:36:15,320 Speaker 1: listen with when we kind of look at some of 644 00:36:15,360 --> 00:36:17,279 Speaker 1: the moves in the past from some of these big 645 00:36:17,360 --> 00:36:19,680 Speaker 1: tech names, whether it be an Apple or a Tesla, 646 00:36:19,760 --> 00:36:23,560 Speaker 1: even in video last year. Um, there's clearly some um 647 00:36:23,880 --> 00:36:26,400 Speaker 1: it drives increasing interest, let's call it, from a lot 648 00:36:26,480 --> 00:36:29,960 Speaker 1: of retail investors out there, and could help you drive 649 00:36:30,000 --> 00:36:32,799 Speaker 1: further momentum here in the shares over the next couple 650 00:36:32,840 --> 00:36:35,600 Speaker 1: of months. And thinking about the momentum for ad sales 651 00:36:35,760 --> 00:36:39,880 Speaker 1: online that brings us to Facebook earnings, Meta platforms reporting 652 00:36:40,000 --> 00:36:43,960 Speaker 1: after the bell this afternoon, does that bode well for 653 00:36:44,080 --> 00:36:48,640 Speaker 1: Mark Zuckerberg's company well in the sense that, um, you know, 654 00:36:49,880 --> 00:36:53,600 Speaker 1: it appears as if kind of more advertisers are opening 655 00:36:53,640 --> 00:36:56,879 Speaker 1: up their wallets. I think that clearly does bode well 656 00:36:57,080 --> 00:36:59,000 Speaker 1: for a Meta as well as some of the other 657 00:36:59,120 --> 00:37:01,719 Speaker 1: social media names that have been hit hard here over 658 00:37:01,800 --> 00:37:04,080 Speaker 1: the last couple of months. However, what we didn't find 659 00:37:04,160 --> 00:37:07,920 Speaker 1: out from um Apple's results that could have more of 660 00:37:07,960 --> 00:37:11,680 Speaker 1: an impact on on Meta is the fact that hey, 661 00:37:11,800 --> 00:37:14,320 Speaker 1: some of these UM or you know, the the Apple 662 00:37:14,800 --> 00:37:17,560 Speaker 1: um privacy changes could have more of an impact or 663 00:37:17,640 --> 00:37:19,759 Speaker 1: like and definitely will have more of an impact on 664 00:37:20,080 --> 00:37:23,160 Speaker 1: a name like Meta as well as Snap. So I 665 00:37:23,239 --> 00:37:25,759 Speaker 1: think that's something that investors are clearly going to keep 666 00:37:25,800 --> 00:37:28,040 Speaker 1: their eyes on and why we haven't seen as much 667 00:37:28,080 --> 00:37:31,239 Speaker 1: of a move on Meta here in terms of the 668 00:37:31,280 --> 00:37:34,879 Speaker 1: stock price ahead of their results. Just thirty seconds left 669 00:37:34,920 --> 00:37:36,359 Speaker 1: here Angel, Well, but what are you expecting to hear 670 00:37:36,360 --> 00:37:39,919 Speaker 1: about the metaverse? Yeah, I mean, listen, this is gonna 671 00:37:39,920 --> 00:37:42,359 Speaker 1: be the first quarter where they kind of provide more 672 00:37:42,440 --> 00:37:45,680 Speaker 1: details across both their business lines in terms of separating 673 00:37:45,719 --> 00:37:49,719 Speaker 1: the the ad with their Facebook Reality Lab segment. At 674 00:37:49,760 --> 00:37:52,239 Speaker 1: the end of the day, I don't expect you'll see much. 675 00:37:52,800 --> 00:37:55,400 Speaker 1: It's still a small part of the business, but I 676 00:37:55,560 --> 00:37:59,480 Speaker 1: think they'll they'll definitely kind of hype it up significantly 677 00:37:59,560 --> 00:38:01,759 Speaker 1: and kind of talked about kind of the hardware opportunities 678 00:38:01,760 --> 00:38:03,880 Speaker 1: at least over the next twelve to eighteen months. And 679 00:38:03,920 --> 00:38:06,560 Speaker 1: we do think the holiday sellers in season was extremely 680 00:38:06,600 --> 00:38:10,040 Speaker 1: good for occultists, probably better than what most industry. They're 681 00:38:10,040 --> 00:38:13,040 Speaker 1: looking at the tech focus continues. Thanks for this, Angelo 682 00:38:13,120 --> 00:38:16,680 Speaker 1: Angelo Zeno, senior equity industry analyst at cf R A. 683 00:38:17,120 --> 00:38:20,720 Speaker 1: And Google shares again, Karen the alphabet the parent company. 684 00:38:20,760 --> 00:38:24,040 Speaker 1: They're up ten percent and Facebook up more than three 685 00:38:24,120 --> 00:38:26,440 Speaker 1: percent ahead of earnings. All right, Nathan, thank you. It 686 00:38:26,600 --> 00:38:29,160 Speaker 1: is five or fifty three on Wall Street. It is 687 00:38:29,200 --> 00:38:31,400 Speaker 1: time for the Bloomberg Law Report, brought to you by 688 00:38:31,400 --> 00:38:35,920 Speaker 1: American Arbitration Association. Business disputes are inevitable, resolve faster with 689 00:38:35,960 --> 00:38:40,040 Speaker 1: the American Arbitration Association, the global leader in alternative dispute 690 00:38:40,080 --> 00:38:42,520 Speaker 1: resolution for over ninety years. More at a d R 691 00:38:42,680 --> 00:38:45,240 Speaker 1: dot org. Let's get to the legal stories we're watching 692 00:38:45,280 --> 00:38:51,160 Speaker 1: this morning. From Bloomberg's Jeff Bellinger, the I R S 693 00:38:51,280 --> 00:38:54,400 Speaker 1: is reminding taxpayers to be sure they have all necessary 694 00:38:54,520 --> 00:38:58,640 Speaker 1: documents before filing their returns. Filing too soon could lead 695 00:38:58,719 --> 00:39:02,280 Speaker 1: to processing to the Tyson Foods wants a federal appeals 696 00:39:02,320 --> 00:39:05,440 Speaker 1: court to reconsider its ruling against the company, which is 697 00:39:05,480 --> 00:39:09,600 Speaker 1: accused of not adequately protecting workers from COVID nineteen. The 698 00:39:09,680 --> 00:39:13,320 Speaker 1: Equal Employment Opportunity Commission has been without a Senate confirmed 699 00:39:13,400 --> 00:39:16,479 Speaker 1: top lawyer since March of last year. The agency says 700 00:39:16,560 --> 00:39:20,879 Speaker 1: the vacancy hinders its ability to pursue certain legal strategies. 701 00:39:21,040 --> 00:39:25,840 Speaker 1: Bloomberg Law everything you need, all on one legal research platform, 702 00:39:26,040 --> 00:39:30,640 Speaker 1: including guidance analysis and Bloomberg market Intelligence. Find out more 703 00:39:30,719 --> 00:39:34,480 Speaker 1: at Bloomberg Law dot com. Thanks Jeff. Now, another legal 704 00:39:34,600 --> 00:39:37,239 Speaker 1: story we're watching brings us to patent law. Today, the 705 00:39:37,320 --> 00:39:40,080 Speaker 1: Washington football team will officially announce its new name. The 706 00:39:40,160 --> 00:39:43,200 Speaker 1: renaming process has taken nearly two years and has been 707 00:39:43,280 --> 00:39:46,720 Speaker 1: shrouded in secrecy for more In the Implications, John Grosso 708 00:39:46,800 --> 00:39:50,759 Speaker 1: speaks to Bloomberg Pattents reporter Susan Decker, So, what are 709 00:39:50,800 --> 00:39:55,239 Speaker 1: some of the extreme measures that sports franchises resort to 710 00:39:55,480 --> 00:39:58,440 Speaker 1: in order to keep a name secret before an announcement 711 00:39:58,600 --> 00:40:02,960 Speaker 1: like this? Ar going to file their trademark application in 712 00:40:03,040 --> 00:40:05,920 Speaker 1: another country. They're going to file in Trinidad and Tobago 713 00:40:06,120 --> 00:40:08,640 Speaker 1: and Mauritius, like these island nations that don't have a 714 00:40:08,680 --> 00:40:10,920 Speaker 1: whole lot of internet access and and don't have a 715 00:40:10,960 --> 00:40:13,360 Speaker 1: lot of public access and have policies that don't allow 716 00:40:13,400 --> 00:40:15,960 Speaker 1: them to be public. This way you get the protection 717 00:40:16,120 --> 00:40:19,239 Speaker 1: because the trademark application is good from the date of 718 00:40:19,320 --> 00:40:23,600 Speaker 1: the first application, but you don't actually file the application 719 00:40:23,840 --> 00:40:26,800 Speaker 1: in a country that has public access like the US 720 00:40:27,280 --> 00:40:29,560 Speaker 1: for six months. You have that six months lead time 721 00:40:29,760 --> 00:40:32,320 Speaker 1: so that you can get everything together. You have the protection, 722 00:40:32,400 --> 00:40:35,000 Speaker 1: but you can get all of your splashy marketing stuff 723 00:40:35,080 --> 00:40:38,000 Speaker 1: all together and then announce it. And when you announce it, 724 00:40:38,320 --> 00:40:40,360 Speaker 1: you're still protected and that you're not going to have 725 00:40:40,440 --> 00:40:43,239 Speaker 1: to worry about someone running to the trademark office to 726 00:40:43,320 --> 00:40:45,840 Speaker 1: file an application on the name that you've chosen. And 727 00:40:46,080 --> 00:40:51,000 Speaker 1: the Cleveland Major League Baseball club filed in Mauritius. They 728 00:40:51,080 --> 00:40:53,520 Speaker 1: filed in Mauritius. Yes, and they filed into their own 729 00:40:53,600 --> 00:40:57,080 Speaker 1: name under the Cleveland Indians name, which was their former team. 730 00:40:57,520 --> 00:41:00,520 Speaker 1: And some companies like Apple, what they do is they'll 731 00:41:00,560 --> 00:41:02,640 Speaker 1: set up a shell company and they'll set up a 732 00:41:02,760 --> 00:41:05,960 Speaker 1: company that has some innocuous name like I P Management, 733 00:41:06,440 --> 00:41:09,560 Speaker 1: and Apple's case for the iPad, they filed it under 734 00:41:09,600 --> 00:41:14,040 Speaker 1: this innocuous sounding name in this remote trademark office and 735 00:41:14,239 --> 00:41:17,080 Speaker 1: turn that tobacco and then when they were ready to 736 00:41:17,120 --> 00:41:20,000 Speaker 1: announce the product, they filed their application in the US 737 00:41:20,080 --> 00:41:22,800 Speaker 1: and then they quickly had that company subsumed into the 738 00:41:22,840 --> 00:41:25,560 Speaker 1: Apple brand and the Apples company. So that there was 739 00:41:25,600 --> 00:41:29,680 Speaker 1: no concern about ownership rights. So it's been almost two 740 00:41:29,880 --> 00:41:35,880 Speaker 1: years since the Washington football team announced that they decided 741 00:41:35,960 --> 00:41:39,160 Speaker 1: to change their name. Why is it taking so long 742 00:41:39,280 --> 00:41:41,520 Speaker 1: to come up with a new name? And there aren't 743 00:41:41,600 --> 00:41:45,960 Speaker 1: that many instances where you have a large, nationally known 744 00:41:46,239 --> 00:41:49,480 Speaker 1: sports franchise switching their names. And it's not just the 745 00:41:49,600 --> 00:41:53,040 Speaker 1: name of the team. You need to get the trademark 746 00:41:53,280 --> 00:41:56,080 Speaker 1: on all the merchandise, on the video rights, on the 747 00:41:56,200 --> 00:41:58,799 Speaker 1: TV rights, you need to get the websites, you need 748 00:41:58,840 --> 00:42:01,279 Speaker 1: to get the social media counts, and you need to 749 00:42:01,400 --> 00:42:04,680 Speaker 1: make sure that you can get the same name for 750 00:42:04,840 --> 00:42:07,840 Speaker 1: all of these things. And in trademarks in particular, the 751 00:42:07,880 --> 00:42:11,279 Speaker 1: trademark is only for a specific type of good. So 752 00:42:11,360 --> 00:42:14,319 Speaker 1: when you have the Washington football team or any football team, 753 00:42:14,719 --> 00:42:17,120 Speaker 1: you have to have that name that can be used 754 00:42:17,280 --> 00:42:22,160 Speaker 1: for cups and hats and clothing and software. And you 755 00:42:22,280 --> 00:42:24,799 Speaker 1: see that they just had a minefield that they had 756 00:42:24,840 --> 00:42:28,000 Speaker 1: to go through. And as Bloomberg Patent's reporter Susan Decker 757 00:42:28,120 --> 00:42:30,400 Speaker 1: speaking with the Juan Grasso. Catch more of that interview 758 00:42:30,480 --> 00:42:33,040 Speaker 1: plus analysis of the latest legal news, by listening to 759 00:42:33,040 --> 00:42:35,920 Speaker 1: The Bloomberg Law Show at ten pm Eastern time or 760 00:42:35,960 --> 00:42:38,920 Speaker 1: subscribing to the Bloomberg Law podcast, and attorneys can find 761 00:42:38,960 --> 00:42:42,520 Speaker 1: exceptional legal research and business development tools at Bloomberg law 762 00:42:42,640 --> 00:42:45,320 Speaker 1: dot com and This is Bloomberg