Speaker 1: Live from the Bloomberg and directed Burger Studios. Is Bloomberg
Speaker 1: Daybreak for Wednesday, February two, two. Coming up this hour,
Speaker 1: NAZAC futures roundly on the heels of earnings from Alphabet.
Speaker 1: The Google Parents surges after announcing a twenty for one
Speaker 1: stop split. FED signals also help sentiment, as officials hint
Speaker 1: of a measured pace for rate heights and oil trades
Speaker 1: near a seven year high ahead of today's OPEC meeting.
Speaker 1: Funeral services are today for the second NYPD officer killed
Speaker 1: in an ambush and Harlem. Plus Russian President Putin speaks
Speaker 1: out about Ukraine. I'm Michael barn More Ahead, I'm Tom
Speaker 1: stashdown Sports. Tom Brady officially retired a blockbuster NFL lawsuit,
Speaker 1: The Nets lost, the Rangers warm. That's all straight ahead
Speaker 1: on Bloomberg day Break on Bloomberg Elementoro, New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine six,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world along Bloomberg Radio dot Com and via The Bloomberg Business.
Speaker 1: Good morning, I'm Para in Moscow. I'm Nathan Hagar Bloomberg
Speaker 1: Daybreak brought to you by s ELI Challenges highlight one's
Speaker 1: character of partnership and resilience. At SEI, they act as
Speaker 1: one community with their clients. Go to se i C
Speaker 1: dot com, Slash banks and US futures are gaining this morning.
Speaker 1: We check the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg. Right now, SMP futures are up thirty
Speaker 1: seven points down futures up forty nine. Nasday futures up
Speaker 1: two dty one. The ten year treasury little change at
Speaker 1: one point seven eight percent. They yield on the two
Speaker 1: year is at one point one is six percent. The
Speaker 1: euro one point one three against the dollar. Nathan well
Speaker 1: Karen boosted NASTACK futures comes in part thanks to corporate earnings.
Speaker 1: Let's begin with Alphabet. The shares are up more than
Speaker 1: ten percent. The Google parent beat profit and sales estimates
Speaker 1: and announced a stock split at Ludlow joins us with
Speaker 1: the details from our bloom Ignined sixty newsroom in San Francisco.
Speaker 1: It was a beat on the top and bottom line
Speaker 1: for Alphabet, the parent company of Google, and all signs
Speaker 1: really points for a resilient advertising business, but really it
Speaker 1: was news of the stock split that drove activity and
Speaker 1: after hours for Alphabet. The company is doing a twenty
Speaker 1: for one stock split in the form of a one
Speaker 1: time special stock dividends, and as part of that split,
Speaker 1: Google's parents going to give one tenth of ascent for
Speaker 1: each share of the company's Class A, Class B, and
Speaker 1: Class C stock, and Ruth Parrat, who is Alphabet CFO,
Speaker 1: told Bloomberg that the rationale here is to widen the
Speaker 1: net and make the stock more accessible to investors. Ed
Speaker 1: love Low, Bloomberg News, San Francisco, Thank you. Adding to
Speaker 1: the bullish sentiment this morning is a MD. Shares of
Speaker 1: the chip maker are up almost eleven percent. The company
Speaker 1: had a surprisingly strong sales fourcast, suggesting it's making further
Speaker 1: gains unrivaled Intel. We're also watching shares of General Motors
Speaker 1: Care and they're up less than one percent. GM earning
Speaker 1: stock dust and it's while it's outlook for two remained unchanged.
Speaker 1: We get more from Bloomberg's Charlie Pellace. GM is seeing
Speaker 1: signs of an easing in the semiconductor shortage that curbed
Speaker 1: a vehicle output and dent at its market share last year.
Speaker 1: But it's cautioning sales and profit for twenty two maybe
Speaker 1: little changed. GM was hit among the hardest in the
Speaker 1: fourth quarter, when a forty three percent drop in domestic
Speaker 1: sales forced the company to relinquish its crown the top
Speaker 1: us automaker for the first time since in New York.
Speaker 1: Charlie Pellett Bloomberg Daybreak. All right, Charlie, thank you. We'll
Speaker 1: have more on GM later this morning on Bloomberg Surveillance.
Speaker 1: Will be speaking live with the CEO, Mary Barrap. That's
Speaker 1: coming up at nine am Wall Street time on both
Speaker 1: Bloomberg Radio and television. Nathan Earnings continue to roll in
Speaker 1: today when nearly three dozen companies reporting and heading the
Speaker 1: list as Facebook owner Meta Platforms. We get a preview
Speaker 1: from Bloomberg's Tom Busby in its first earnings report under
Speaker 1: its new corporate name. Facebook's owner, Meta Platforms, is expected
Speaker 1: to report a burst in digital advertising revenue last quarter
Speaker 1: and solid holiday sales of its Oculus VR headset. Bloomberg
Speaker 1: analysts forecast total revenue of thirty three point four three
Speaker 1: billion dollars, a nine percent jump from a year ago,
Speaker 1: with nearly all of that from advertising. Look for earnings
Speaker 1: per share of three dollars four cents, and on the
Speaker 1: earnings call, expect the company to be pressed to better
Speaker 1: explain the metaverse, the virtual reality platform it's basing its
Speaker 1: future on. Tom busby Bloomberg Daybreak. Okay, Tom, Thanks. Turning
Speaker 1: from earnings now. Markets are also getting a boost from
Speaker 1: the Fed. Central Bank officials are laying out a measured
Speaker 1: approach to the path for rate hikes this year. We
Speaker 1: get that story live from Bloomberg's Greneda Young, Good morning, Granita,
Speaker 1: Good morning Nathan. The measured calls from FED leaders are
Speaker 1: different from Wall Street forecasts, which include as many as
Speaker 1: seven rate hikes this year. Some even predict a fifty
Speaker 1: basis point hike next month. So far, none of the
Speaker 1: Fed officials speaking this week have backed the idea of
Speaker 1: such an increase in March. The most hawkish of them
Speaker 1: all St. Louis FED President it James Bullard says five
Speaker 1: hikes is quote not too bad a bit. Kansas City
Speaker 1: Fit chief Esther George is another hawk, and she says
Speaker 1: ideally the Fit prefers to go gradually live in New York.
Speaker 1: I'm gonned a Young Bloomberg Daybreak. I need to thank you,
Speaker 1: Fede officials will be paying close attention to this week's
Speaker 1: economic data. This morning, we get the first at three
Speaker 1: reports on the labor market. We could see a dramatic
Speaker 1: slowdown in business hiring when a DP issues January payroll data.
Speaker 1: Economists surveyed by Bloomberg anticipate a gain of less than
Speaker 1: two hundred thousand, and Bloomberri's Benny down Juda's reports. Bloomberg
Speaker 1: Economics says January's ADP data will point to a slowdown
Speaker 1: and hiring reflecting the impact of COVID nineteen Armicron infections
Speaker 1: on businesses. February could usher in a recovery. In December,
Speaker 1: a DP reported businesses added more than eight hundred thousand workers,
Speaker 1: the most its May, though official government figures were less robust.
Speaker 1: Bloomberg Daybreak al right, Vinnie, thanks. The big labor report
Speaker 1: comes on Friday with fronament payrolls data for January. The
Speaker 1: Biden administration's lowering expectations on that as well. The White
Speaker 1: House says fallout from Omicron could overstate the number of
Speaker 1: unemployed people. Jared Bernstein is a member of the White
Speaker 1: House Council of Economic Advisors. If you're not on the payroll,
Speaker 1: meaning you're sick or you're absence, so you're on some
Speaker 1: sort of unpaid leave, you're not going to be counted
Speaker 1: on the payroll for the payroll survey. And the fact
Speaker 1: is um virtually all of those folks likely still have
Speaker 1: their jobs, so when they go back in February, they
Speaker 1: will be counted again. Jared Bernstein with the Council of
Speaker 1: Economic Advisors spoke with our Washington correspondent Joe Matthew on
Speaker 1: Bloomberg Sound On. You can catch the program weekdays at
Speaker 1: five pm Eastern on Bloomberg Radio. Well Nathan Oil also
Speaker 1: and Focus. This morning, it is trading near a seven
Speaker 1: year high ahead of an OPEG plus meeting. Oh Peck
Speaker 1: and its allies are expected to approve another modest oil
Speaker 1: output increase today, at the same time they could struggle
Speaker 1: to actually deliver that cut. Checking prices now, nonm ex
Speaker 1: scrude oil is down about a tenth of a percent.
Speaker 1: It's down nine cents a d eight dollars eleven cents
Speaker 1: of barrel Brent is at eighty eight dollars. Stock futures
Speaker 1: are moving higher, Karen, led by the NASTAC. NASTAC futures
Speaker 1: up two hundred forty two points or one point six percent.
Speaker 1: S ANDP futures are up thirty six points down, futures
Speaker 1: up forty two. Straight ahead your latest local headlines in
Speaker 1: the check of sports. This is Bloomberg. It's out five
Speaker 1: oh seven on Wall Street where thirty four degrees in
Speaker 1: Central Park, dealing with a water main breaking seat bright.
Speaker 1: It's a North founder A three thirty six by Atlantic Way.
Speaker 1: Details coming up the traffic First. Michael Barr is here
Speaker 1: with more on what's going on in New York and
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. A
Speaker 1: sea of blue is expected again today in New York
Speaker 1: City at the funeral for Officer Wilbert Mora, the second
Speaker 1: of two n y p D officers killed in the
Speaker 1: line of duty last month. Awake for Maura, who was
Speaker 1: twenty seven, was held yesterday. He was killed during a
Speaker 1: domestic disturbance call in Harlem along with his partner, Jason Rivera.
Speaker 1: More as funeral will be held at St. Patrick's Theedral
Speaker 1: this morning in Midtown Manhattan, followed by a burial in Woodside,
Speaker 1: Queens This as, an off duty NYPD officer was shot
Speaker 1: in Queen's last night he's expected to survive. In my
Speaker 1: p D, Commissioner Keachin Seul talked about the latest shooting.
Speaker 1: This young man was on his way to work, on
Speaker 1: his way to protect New Yorkers from criminals. Commissioners Sewell
Speaker 1: was alongside Mayor Eric Adams speaking to reporters. These offices
Speaker 1: every day put on their uniform and a shill on
Speaker 1: their chest, put their bulletproof fest on and go back
Speaker 1: in the streets. With all of that frustration, they still
Speaker 1: go back and do their job. Now it's time for
Speaker 1: lawmakers to do their job. Mayor Adams is getting ready
Speaker 1: to host President Biden tomorrow for a discussion about gun violence.
Speaker 1: Russian President Vladimir Putin accused America and the West of
Speaker 1: ignoring Moscow's security concerns in the Ukraine controversy. Secretary of
Speaker 1: State Blincoln's speaking with Russian Foreign Minister lab Roth, says
Speaker 1: it was time for Russia to start withdrawing its troops
Speaker 1: from the border. No breakthrough, but the two agreed to
Speaker 1: talk again. White House spokesperson Jen Psaki the door to
Speaker 1: the plomacy remains open. We don't know what decision President
Speaker 1: Putin will make. Spokesperson Jen Psaki a Democratic senator has
Speaker 1: suffered a stroke. His doctors say u S Senator Ben Luhan,
Speaker 1: who is forty nine, is expected to fully recover from
Speaker 1: a stroke and surgery to produce swelling. However, with a
Speaker 1: Senate it has put a number of Democratic lead votes
Speaker 1: on hold for now. A major winner storm is expected
Speaker 1: to affect a huge swath of the US, with heavy
Speaker 1: snow starting in the Rockies and freezing rain as far
Speaker 1: as south as Texas before it drops snow and ice
Speaker 1: on the Midwest. Speaking of which, it is Groundhog Day.
Speaker 1: People in Pennsylvania waiting to learn whether punksatani fill at
Speaker 1: rodent but will predict an early spring or six more
Speaker 1: weeks of winter. Global News twenty four hours a day
Speaker 1: on air. I'm going for the winner and by more journalists,
Speaker 1: analyst more than countries and Michael barrd this is Bloomberg
Speaker 1: name it safe bet after all we've seen this winner.
Speaker 1: Thanks Michael, and we're coming up to five ten on
Speaker 1: Wall Street. Time for the Bloomberg Sports Update with John Stash.
Speaker 1: Thanks day. Then, the greatest player ever retires and it
Speaker 1: may not have been the biggest NFL story of the day.
Speaker 1: Tom Brady made his retirement official in a lengthy post
Speaker 1: on social media that curiously never mentioned the Patriots, but
Speaker 1: you're canna expect Brady's number twelve to be retired at
Speaker 1: a Pat's game next season. Tampa Bay now needs a quarterback. Meanwhile,
Speaker 1: a lawsuit filed in Manhattan Federal Court by Brian Flores,
Speaker 1: recently fired as the head coach of the Dolphins, excusing
Speaker 1: the NFL and three teams Miami, Denver, and the Giants
Speaker 1: of racism and their hiring practices. Flora said in two
Speaker 1: thousand nineteen in Denver, just recently with the Giants, he
Speaker 1: was interviewed for a head coaching job that he had
Speaker 1: no chance of getting, and he offered as proof a
Speaker 1: text he got last week from Bill Belichick, who apparently
Speaker 1: mted to go to Brian dayball. He congratulated him on
Speaker 1: getting the Giants job. It was before Flores even had
Speaker 1: his interview. Perhaps most shocking, Lee Flora said, Dolphins owner
Speaker 1: Stephen Ross offered to pay him more money if his
Speaker 1: team lost so they could get a better draft pick.
Speaker 1: Nets and Phoenix Sons of one forty of their last
Speaker 1: forty six. They beat Brooklyn eleven, Devin Booker thirty five points.
Speaker 1: Rangers at the Garden beat Florida five to two, more
Speaker 1: goals both on the power play for Chris Cried are
Speaker 1: now thirty three goals on the year, more than half
Speaker 1: of those with the man advantage. Islanders back to five
Speaker 1: hundred four one over Ottawa Devil sixth raight loss, beaten
Speaker 1: by Toronto seven one. St. John's lost the biggest, leading
Speaker 1: Providence eight six eighty two. Pash Alexander twenty nine points
Speaker 1: of the red storm. Seaton Hall won at Georgetown. Rutgers
Speaker 1: came from twenty four down to force overtime but lost
Speaker 1: by a point. At Northwestern John stash Award Bloomberg Sports
Speaker 1: Nathan all Right, John, thanks futures moving higher, SMP futures
Speaker 1: up thirty four points a town futures that futures hired
Speaker 1: by two hundred thirty six points ten your treasury yield one.
Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather mix of
Speaker 1: sun in clouds today with a high near forty five degrees, afternoon,
Speaker 1: rain tomorrow, mid forties at rain a Lenda's wet sleet
Speaker 1: or snow Friday with higher thirty five currently thirty four degrees.
Speaker 1: Markets headlines, and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktake,
Speaker 1: This is a Bloomberg Business flash and I'm Karen Moscow.
Speaker 1: And global stocks are headed for the biggest four day
Speaker 1: rally since November of US DOT Index futures are jumping
Speaker 1: as a con as companies from the US to Europe
Speaker 1: report better than forecast earnings and dip fine continues and
Speaker 1: technology shares. We check the markets every fifteen minutes throughout
Speaker 1: the trading day on Bloomberg and right now, S and
Speaker 1: P futures are up thirties seven points down. Future is
Speaker 1: up fifty nasdack features up two hundred thirty five. That's
Speaker 1: up one point six percent. The decks in Germany's up
Speaker 1: half percent. Ten. Your treasury up to thirty seconds, you
Speaker 1: had one point seven eight percent. They yield on the
Speaker 1: two year one point one six percent. Nine. Mex screwed
Speaker 1: oil is up a quarter percent, or twenty cents at
Speaker 1: eighty eight dollars forty one cents a barrel. Co Mex
Speaker 1: School the tenth of upper cent or two dollars fifty
Speaker 1: cents at eighteen o four twenty announced the euro one
Speaker 1: point one two nine seven against the dollar British found
Speaker 1: one point three five four two, the ens at one
Speaker 1: four teen point three six, and Bitcoin this morning moving
Speaker 1: lower at thirty eight thousand, four hundred sixty dollars. That's
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more
Speaker 1: on what's going on around the world. Munchael, Good morning,
Speaker 1: Good morning, Karen. Us. Hospital admissions for COVID nineteen are
Speaker 1: receiving in thirty four states and the nation's capital, easing
Speaker 1: the healthcare staffing crisis that were widespread at the start
Speaker 1: of the year. The World Health Organization warren countries, though
Speaker 1: not to ease restrictions prematurely. For Miami Dolphins coach Brian
Speaker 1: Flores is suing the NFL and three teams, including the Giants,
Speaker 1: claiming quote the NFL is racially segregated and has managed
Speaker 1: much like a plantation. The Dolphins fired Floors last month
Speaker 1: after back to back winning seasons. The lawsuit even accuses
Speaker 1: Dolphins owner Stephen Ross of offering to pay Floors a
Speaker 1: hundred thousand dollars for every loss during the twenty nineteen
Speaker 1: season to secure a higher draft pick in the NBA.
Speaker 1: The Nets and Wizards lost, the Warriors one, NHL Action,
Speaker 1: the Rangers, Islanders and Bruins one, the Capitol's one an
Speaker 1: ot against the Penguins for three the Devil's lost. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg Naked Fine. Michael, thank you. We're coming
Speaker 1: up to five twenty on Wall Street Life from the
Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreaking. Michael Houston
Speaker 1: joins US now chief Market analyst at CMC Markets. With
Speaker 1: a definite risk on field, Michael, particularly if you're a
Speaker 1: tech investor. I guess it doesn't hurt when the Google
Speaker 1: parent Alphabet comes in with really solid earning. Spoken this
Speaker 1: kind of momentum continue on the tech side. Um well,
Speaker 1: I think I think that's a question that a lot
Speaker 1: of people are currently asking. We've seen a fairly decent
Speaker 1: rebound over the course of the past three or four days,
Speaker 1: but I think the wider question is whether or not
Speaker 1: markets of adequately priced in fed rate rise expectations, and ultimately,
Speaker 1: I think one of the reasons why we've seen the
Speaker 1: rebounding tech is because those FED members pushed back quite
Speaker 1: significantly on the expectation of a not point five hiking
Speaker 1: rates in March. And I also think market expectations around
Speaker 1: the number of rate rises this year have become much
Speaker 1: more realistic. You know what, I've heard an awful lot
Speaker 1: of chatter about five, six or seven rate rises this year,
Speaker 1: and I think a large part of the reason we
Speaker 1: saw the sell off at the back end of Chaney
Speaker 1: was because of concern about that. Now that we're out
Speaker 1: of the quiet period and FED policy makers are an
Speaker 1: awful lot more vocal, there's been pushed back on that now.
Speaker 1: Of course, that could all change next week with the
Speaker 1: US CPI number, But for the time being, I think
Speaker 1: if ten y yields remain below one and two yields
Speaker 1: remain below one point two, then I certainly think this
Speaker 1: rally has got legs now. So the CPI number is probably,
Speaker 1: from what I hear from you, the bigger focus as
Speaker 1: opposed to the jobs report coming out on Friday. Yeah,
Speaker 1: I mean Patrick Harker pushed back on that yesterday. We're
Speaker 1: expecting a pretty poor report, and ultimately I think January,
Speaker 1: I think a couple of years ago there's also a
Speaker 1: disappointing number as well. Um in the in the when
Speaker 1: we had similar problems with respect to a previous variant.
Speaker 1: So we're coming out of the pandemic. Ultimately, I think
Speaker 1: the FED thinks that we are at maximum employment. I
Speaker 1: think a poor jobs report is priced in. It's much
Speaker 1: more about inflation, and certainly I think that is the
Speaker 1: clear and present concern for investors at the moment. I mean,
Speaker 1: around about ten minutes ago we saw a you CPI
Speaker 1: come out a new record hire five. Yeah. I was
Speaker 1: going to ask you about that. Whether the ECB can
Speaker 1: maintain it's a slower rate hike path with that kind
Speaker 1: of record heart inflation coming in in the Eurozone, I
Speaker 1: think what gives them a little bit of a get
Speaker 1: out of jail free card on that. On that score, Nathan,
Speaker 1: is the fact that core prices fell back from two
Speaker 1: point six to two points three in January. But it
Speaker 1: is a worry. I mean, you can't credibly argue that
Speaker 1: the FED is behind the curve on inflation, while at
Speaker 1: the same time I argue that the CBS and I mean, yes,
Speaker 1: there are differences between the economies, but ultimately, I think
Speaker 1: if the ECB is lagging behind the FED, which most
Speaker 1: people acknowledge that it is, then we're likely to see
Speaker 1: much more persistent inflation going forward. So I think Madame
Speaker 1: Lagarde is going to find it very, very difficult to
Speaker 1: hold the line on the transitory narrative when you've got
Speaker 1: inflation in the Baltic states of around about ten or
Speaker 1: twelve cp I offsetting against the weakend numbers that you're
Speaker 1: seeing in Italy and Spain, which still is well above
Speaker 1: the headline two target. So in a last minute here, Michael,
Speaker 1: which sectors are you looking at to perform well in
Speaker 1: this kind of elevated inflationary environment. Well, at the moment,
Speaker 1: we've got a rising tide and appears to be lifting
Speaker 1: all boats would have seen so far, as obviously the
Speaker 1: energy sector. I mean, that's a no brainer. X on
Speaker 1: mobiles numbers yesterday, we're I think a real standout, and
Speaker 1: I think I'll be paying particular attention over the course
Speaker 1: of the next couple of weeks to BP and shells
Speaker 1: numbers over here, because they have been very disappointing and
Speaker 1: those shares have lagged. Obviously telecoms as well. There's an
Speaker 1: awful lot of M and A there to phone this
Speaker 1: morning was slightly better than expected, so certainly be looking
Speaker 1: for M and A activity in that particular sector as
Speaker 1: well here in Europe. All right, interesting as always to
Speaker 1: get your insights. Thanks for this, Michael. Michael Houston is
Speaker 1: Chief market Analyst at CMC Markets. As tech really is
Speaker 1: the focus this morning after the earnings we saw last
Speaker 1: night from a Google parent Alphabet NASDAC futures are surging
Speaker 1: this morning, up one and a half percent or two
Speaker 1: D twenty seven points, leading the gains. Solid gains for
Speaker 1: the SMP futures as well. They're up thirty six points
Speaker 1: or eight tenths of one percent. DAL futures also in
Speaker 1: the green, up fifty one points. That's a gain of
Speaker 1: about one to two tenths of one percent. The tenure
Speaker 1: treasury is up one thirty second yield one point seven
Speaker 1: eight percent on the tenure note and the yield on
Speaker 1: the two year right now one point one six percent.
Speaker 1: The docks in Germany CAC in Paris both up a
Speaker 1: half percent after that record five point one percent inflation
Speaker 1: print out of the euro zones day with us for more.
Speaker 1: You're listening to Bloomberg Daybreak. Bloomberg day Break is brought
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Speaker 1: Today broadcasting live from the Bloomberg Interactive Broker Studio in
Speaker 1: New York, Bloomberg E Living free to Washington, d C,
Speaker 1: Bloomberg N one to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg nine six to the country, Sirius
Speaker 1: XM chto one nineteen and around the globe, the Bloomberg
Speaker 1: Business APT and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's fine thirty on Wall Street. Good morning. I'm Nathan
Speaker 1: Hager and I'm kerin Moscow. We are just about four
Speaker 1: hours away from the open of US trading. Let's get
Speaker 1: you up to date on the news you need to
Speaker 1: know this hour and now. As the future is higher
Speaker 1: this morning, building on three straight days of gains. The
Speaker 1: catalyst this morning strong earnings from alphabet Angelo Zeno is
Speaker 1: an analyst at cf A, you know, kind of going
Speaker 1: into the quarter, I think there might have been some
Speaker 1: concerns about some of the supply constraints going on the
Speaker 1: market and potentially hindering some of the ad spend out there.
Speaker 1: But kind of look at the search business and I
Speaker 1: think that's really kind of the big winner here of
Speaker 1: percent and really kind of blew our numbers away. C
Speaker 1: f r A analyst Angelo Zeno says a stock split
Speaker 1: is also lifting Alphabet shares. The company will increase its
Speaker 1: outstanding shares by a twenty to one ratio. Another high
Speaker 1: tech companies rollying this morning, Karen Shares of a M
Speaker 1: d Or up eleven and a half percent. The ship
Speaker 1: maker gave us surprisingly strong sales forecast, suggesting it's making
Speaker 1: further gains on rival Intel. Facebook reports this afternoon General
Speaker 1: motors of nearly one percent in the pre market. Nathan
Speaker 1: the company's earnings BEATA estimates, while its forecast was in
Speaker 1: line with predictions. GMC's a semi conductor shortage easing this year,
Speaker 1: but says lower volume ven higher costs will restrain profit.
Speaker 1: Obside of corporate earnings, a measured ton from the FED
Speaker 1: is also boosting stocks we get that story live from Bloomberg.
Speaker 1: Rinia Young, Good morning, Granita, Good morning Nathan. Central Bank
Speaker 1: officials are laying out a gradual approach to the path
Speaker 1: for rate hikes this year. That differs from some Wall
Speaker 1: Street forecasts, which include as many as seven rate hikes
Speaker 1: this year and even a fifty basis point height next month.
Speaker 1: So far, none of the Fed officials speaking this week
Speaker 1: have backed the idea of such an increase in March.
Speaker 1: The most hawkish of them all St. Louis Fed President
Speaker 1: James Buller's says five hikes is quote not too bad
Speaker 1: a bet. Kansas City Fed Chief Esther George is another
Speaker 1: hawk and she says ideally the Fed prefers to go gradually.
Speaker 1: Live in New York. I'm Rania Young, Bloomberg daybreak. I
Speaker 1: mean to thank you. Oil trading near a seven year
Speaker 1: high ahead of an OUTPAG plus meeting. Oh Pack and
Speaker 1: its allies are expected to approve another modest oil output
Speaker 1: increase today. At the same time, they'll have to struggle
Speaker 1: to deliver and checking oil right now. And I'm ex screwed.
Speaker 1: Oils have a quarter per center to need two cents
Speaker 1: and eighty eight dollars forty two cents of Darrel. Brent
Speaker 1: is up a tenth of a percent at eighty nine
Speaker 1: dollars twenty seven cents, and again, futures are on the rise.
Speaker 1: S and P Future is up thirty seven points down
Speaker 1: Future is up fifty four nasdack Futures jumping up two
Speaker 1: hundred thirty seven points. That's up one point six percent.
Speaker 1: Tenure Treasury little change, he'd one point seven eight percent,
Speaker 1: and they yield on the two year one point one
Speaker 1: seven percent and the euro one point one three oh
Speaker 1: five against the dollar. Straight ahead, your latest local headlines
Speaker 1: plus the check of sports, and this is Bloomberg. He's
Speaker 1: caring on Wall Street thirty five degrees in Central Park.
Speaker 1: They've cleared the crash on westbound l I E and
Speaker 1: Maurice Avenue. Details coming up in traffic. First Michael Arr
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Michael, thank you very much. Nathan. Funeral
Speaker 1: services will take place today for n y p D
Speaker 1: officer Wilbert Mora. The twenty seven year old was killed
Speaker 1: in the line of duty last month, along with his
Speaker 1: partner Jason Rivera. More will be buried in Queens after
Speaker 1: services in St. Patrick's Cathedral in Manhattan. This as an
Speaker 1: off duty NYPD officer was shot in Queen's last night.
Speaker 1: He's expected to survive. Tomorrow, Mayor Eric Adams will host
Speaker 1: President Biden for a discussion about gun violence. We're going
Speaker 1: to lay out clear items we need on the federal level,
Speaker 1: just as we did with state lawmakers. Everyone must be
Speaker 1: on the same team. Adams will also be joined by
Speaker 1: New York Governor Kathy Hocole and other elected officials. Russian
Speaker 1: President Vladimir Putin is breaking his silence on the u
Speaker 1: S military support for Ukraine. Putin accused the US and
Speaker 1: the West of ignoring Moscow's security concerns. Why now, spokesperson
Speaker 1: Jan Saki, We don't know what President Putin is going
Speaker 1: to do uh and it is our responsibility to UM
Speaker 1: and it's an imperative to keep the door to diplomacy
Speaker 1: open right now. Spokesperson Jen sak Fiser is asking US
Speaker 1: regulators to authorize extra low doses of its COVID nineteen
Speaker 1: vaccine for children under five. The move could open the
Speaker 1: way for the very youngest Americans to start receiving shots
Speaker 1: by early March. The FBI is warning of cyber attacks
Speaker 1: aimed at disrupting the Beijing Olympics, Bloomberg's head Baxter reports.
Speaker 1: The FBI warning says the targets will be entities associated
Speaker 1: with the Olympics and that they could have activities disrupted
Speaker 1: by a broad range of cyber movements. It warns of ransomware, malware,
Speaker 1: social engineering, data theft, phishing campaigns, and disinformation campaigns. The
Speaker 1: FBI is also sending a follow up reminder to those
Speaker 1: traveling that they could be the targets of mobile phone
Speaker 1: attacks as well. In San Francisco, I'm at Baxter, Bloomberg
Speaker 1: Gay Break Global News twenty four hours a day on
Speaker 1: airand on Bloomberg Quick Take, powered by more than twenty
Speaker 1: seven journalists and analysts more than a hundred twenty countries
Speaker 1: on Michael Barr, This is Bloomberg, Nathan. Thanks Michael wall Street.
Speaker 1: John Stas got the Bloomberg Sports update all right, Nathan.
Speaker 1: It was in two thousand fourteen that the Patriots, sensing
Speaker 1: that Tom Brady, then thirty seven, was nearing the end
Speaker 1: of his brilliant career, drafted a quarterback to replace him,
Speaker 1: Jimmy Garoppolo. Brady said back then when he stinks till retire.
Speaker 1: He's now forty four, he is retiring, but he never
Speaker 1: did stunt. In fact, Brady's final season with Tampa Bay
Speaker 1: with one of his best over fifty three hundred passing
Speaker 1: yards forty three touchdown It's gonna be very hard for
Speaker 1: anyone to break Brady's records. He's got a hundred seventy
Speaker 1: four more touchdown passes than any active QB. Garoppolo never
Speaker 1: did replace Brady in New England. Maybe he'll do it
Speaker 1: now with Tampa Bay. At the forty, Niners expected to
Speaker 1: trade Garoppolo stunning allegations made by Brian Flores in the
Speaker 1: lawsuit he filed in Manhattan Federal Court at US in
Speaker 1: the NFL and three teams of racism in their hiring practices.
Speaker 1: Not only that the Broncos in two thousand nineteen and
Speaker 1: the Giants recently interviewed him for a head coaching job
Speaker 1: they knew they were not going to offer to in
Speaker 1: but that in Florida's first season as head coach in Miami,
Speaker 1: owner Stephen Ross offered him a hundred thousand dollars for
Speaker 1: each loss. He says Ross wanted to lose so they'd
Speaker 1: get a better draft pick Nets lost in Phoenix one eleven.
Speaker 1: Devin Booker scored thirty five. The Sons are an NBA
Speaker 1: best forty one and nine Rangers at the card and
Speaker 1: be Florida five to two. More power play goals for
Speaker 1: Chris Pryter or Tammy Panarina goal to assist Islanders beat
Speaker 1: Ottawa four to one. Devil's lost at Toronto seven one St.
Speaker 1: John's near they pulled off an upset, fell short to
Speaker 1: bigg East leading Providence eight eighty two. Seaton all being
Speaker 1: Georgetown Rutgers lost in overtime at Northwestern. John Stash Award
Speaker 1: Bloomberg Sports Nathan thanks John thirty seven on Wall Street
Speaker 1: Time for the Tri State Business Report. Here's Bloomberg's head Cory.
Speaker 1: New York City is home to the most well funded
Speaker 1: crypto startups in the US. Last year, the city attracted
Speaker 1: six and a half billion dollars forty six percent of
Speaker 1: funding to blockchain or crypto centric companies, according to CB Insights.
Speaker 1: New York Digital Investment Group and Celsius Network led the
Speaker 1: pack of New York firms. New York City's property tax
Speaker 1: system was built a favorite single family homeowners over renters
Speaker 1: or commercial buildings. Hundreds of residents last year asked the
Speaker 1: city to change the law, as spiraling prices force some
Speaker 1: longtime city dwellers into debt and others to consider leaving.
Speaker 1: Mayor Eric Adams has a bound to prioritize the issue.
Speaker 1: More than three hundred thousand New Jersey residents have signed
Speaker 1: up for health insurance online at get Covered in j
Speaker 1: dot gov. More consumers signed up for marketplace coverage than
Speaker 1: during any prior open enrollment period since passage of the
Speaker 1: Affordable Care Act. That your Bloomberg Tries State Business Report.
Speaker 1: I'm in Corey on Wall Street time out to check
Speaker 1: in with our global news team on some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. I'm Steve Potas and on Chence head
Speaker 1: Wins in New York. We're talking about big bonuses bringing
Speaker 1: back the good old as on Wall Street. UM corney
Speaker 1: Danaho on who Who in Fort Wayne General Motors says
Speaker 1: the chip shortage will start to diminish in the second
Speaker 1: half of the year. I'm Caroline hit called Bob Dave
Speaker 1: Dishomadium in London. Women boarding on a two million pound
Speaker 1: award for eight female BMP PIVA employee and a London
Speaker 1: Employment tribunal as an unprecedented order having the bank to
Speaker 1: conduct agenda payodit I mid Cory on w w J
Speaker 1: in Detroit, Diimer boarding general motors he signed of been
Speaker 1: easing in the computer chip shortage. Those are some of
Speaker 1: the stories our Bloomberg journalist and analyst working on this
Speaker 1: morning around the world. It's thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial
Speaker 1: was written by the Bloomberg Editorial Board. Since the early
Speaker 1: days of the pandemic, the U. S. Government has suspended
Speaker 1: payment requirements for federal student loans. During the omicron wave,
Speaker 1: President Joe Biden once again extended the pause, the fifth
Speaker 1: such delay in less than two years. He should make
Speaker 1: it the last. Pausing student loan payments made sense at
Speaker 1: the height of the pandemic, when much of the U. S.
Speaker 1: Economy had shut down. There's less justification now. Some Biden
Speaker 1: allies are pushing the White House to extend the pause
Speaker 1: again or to cancel student loan debt altogether before payments
Speaker 1: are set to resume in May. Biden should refuse. Doing
Speaker 1: so made disappoint progressives, but it would promote fairness, cut
Speaker 1: the government's losses, and reduce uncertainty for borrowers themselves. This
Speaker 1: editorial was written by the Bloomberg Editorial Board. For more
Speaker 1: Bloomberg opinion, please go to Bloomberg dot com, slash opinion
Speaker 1: or ope i n go on the Bloomberg terminal. This
Speaker 1: has been Bloomberg Opinion. Listen for Bloomberg opinion editorials every
Speaker 1: week at this time. Terminal customers can read more at
Speaker 1: opi n go. SMP futures right now thirty seven point
Speaker 1: style features up sixty nine, Nasdaq futures higher by two
Speaker 1: hundred twenty eight points, a gain of one and a
Speaker 1: half percent on the heels of Google earnings. Shares of
Speaker 1: Alphabet up almost eleven percent. We'll talk tech next with
Speaker 1: Angelo Zeno of cf r A. This is Bloomberg, Bloomberg
Speaker 1: eleven three oh Weather cloud some sun at times at
Speaker 1: mid forties for an afternoon high, afternoon rain tomorrow high
Speaker 1: your forty five degrees. That rain condend is wet, snow
Speaker 1: or sleet on Friday with a high in your thirty
Speaker 1: five degrees. Markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, for Bloomberg Business at
Speaker 1: and at Bloomberg QUICKTAKEE. He's a Bloomberg Business Flash and
Speaker 1: I'm Karen Moscow. Global stocks heading for the biggest four
Speaker 1: day rally since November. US stock index futures are jumping
Speaker 1: as companies from the US to Europe report better than
Speaker 1: forecast earnings, and dip bine continues in technology shares. We
Speaker 1: check the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg Right now, S and P futures are up
Speaker 1: thirty three points now futures of fifty two Nasdaq futures
Speaker 1: are up two hundred eleven or one point four percent.
Speaker 1: The decks in Germany's up half percent. The ten year
Speaker 1: treasury down to thirty seconds yield one point seven nine percent,
Speaker 1: yield on the two year one point one seven percent
Speaker 1: nine x screwed oil of four ten percent or thirty
Speaker 1: four cents at eighty eight dollars fifty four cents of barrel.
Speaker 1: Comics called up tenth of a percent of a dollar
Speaker 1: seventy at eighteen o three twenty announced the euro one
Speaker 1: point one three one zero against the dollar. British found
Speaker 1: one point three five eight a en is at one
Speaker 1: fourteen point four one, and Bitcoin this morning moving lower
Speaker 1: at thirty eight thousand, five hundred fifty dollars. That's a
Speaker 1: Bloomberg business flash. Now here's Michael lar with more unless
Speaker 1: going on around the world. Michael here in in Virginia's
Speaker 1: students and staff at Bridgewater College ark in morning after
Speaker 1: two security officers were shot to death. The suspects and
Speaker 1: custody fired. Miami Dolphins coach Brian Flores has sued the
Speaker 1: NFL and three teams, including the Giants, alleging races hiring
Speaker 1: practices by the league. The Washington Football team will announce
Speaker 1: its new name and logo today. NBA the Nets and
Speaker 1: Wizards lost, the Warriors one, NHL, the Rangers, Islanders and
Speaker 1: Bruins one, the Capitol's one, and OT the Devil's Lost.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quickdake, powered by more than twenty seven hundre
Speaker 1: journalists and analysts more than a d twenty countries. I'm
Speaker 1: Michael bar This is Bloomberg Naked. Thanks Michael. It's five
Speaker 1: forty eight on Wall Street Life from the Bloomberg Interactive
Speaker 1: Broker Studios This is Bloomberg Daybreak with tech earnings in
Speaker 1: focus this morning. As we see the surgeon nastac futures,
Speaker 1: we are continuing to keep our eyes on alphabet shares.
Speaker 1: The parent Google of the parent company of Google is
Speaker 1: up more than ten percent on sales and profits the
Speaker 1: top estimates, even in the face of a Macron. Let's
Speaker 1: get more on the tech story. Angelo Zeno with a
Speaker 1: senior industry analyst at c f R A Angelo, A
Speaker 1: thirty three percent jump and AD sales is nothing to
Speaker 1: shake a stick at. Yeah, I know absolutely. I mean, listen,
Speaker 1: the search business growing up, I think about thirty six
Speaker 1: percent here, um, as well as you know, great results
Speaker 1: across other segments as well. You've got to kind of
Speaker 1: be be pretty happy with where um. You know, the
Speaker 1: digital add growth is coming from here. I think you know,
Speaker 1: the company likely somewhat of a beneficiary from Apple's recent
Speaker 1: privacy changes here. But you know all said, um, you know,
Speaker 1: increased budgets here from within the enterprise space as kind
Speaker 1: of the economy reopens. Um, this company is just kind
Speaker 1: of um firing on all cylinders. To to be honest
Speaker 1: with you, you can't continue to fire on all cylinders.
Speaker 1: Is it being a beneficiary as well of the continued
Speaker 1: COVID pandemic and a lot of Internet users still spending
Speaker 1: more time online simply because they have more of that time. Well,
Speaker 1: you know, I think it's interesting in the sense that
Speaker 1: you know, this is a company that's going to benefit from,
Speaker 1: you know, whether we're seeing a prolonged pandemic or if
Speaker 1: this economy reopens. And again, you know, we kind of
Speaker 1: see increased travel spend and what have you. And at
Speaker 1: the end of the day, what happens is um, you know,
Speaker 1: we're just seeing more and more advertisers just continue to
Speaker 1: shift their spend online. And that's not a trend that's
Speaker 1: going to stop. If anything, it's accelerated here during the pandemic.
Speaker 1: And while we expect some deceleration of growth here in
Speaker 1: three let's call it mid teams growth. Um. You know,
Speaker 1: the the the secular drivers remain intact um and again,
Speaker 1: the digital ad spend will increasingly come towards growth towards Alphabet.
Speaker 1: Obviously a lot of attention as well on the announcement
Speaker 1: of a one stock split. What's Alphab doing with that? Yeah,
Speaker 1: I mean, listen, I think there are a lot of
Speaker 1: investors that kind of get hyped up when you kind
Speaker 1: of see an announcement like that. I mean us being
Speaker 1: a fundamental a house. Um, Listen, it doesn't really have
Speaker 1: an impact on kind of how we look at the
Speaker 1: stock or our recommendation on the name. But that being said,
Speaker 1: listen with when we kind of look at some of
Speaker 1: the moves in the past from some of these big
Speaker 1: tech names, whether it be an Apple or a Tesla,
Speaker 1: even in video last year. Um, there's clearly some um
Speaker 1: it drives increasing interest, let's call it, from a lot
Speaker 1: of retail investors out there, and could help you drive
Speaker 1: further momentum here in the shares over the next couple
Speaker 1: of months. And thinking about the momentum for ad sales
Speaker 1: online that brings us to Facebook earnings, Meta platforms reporting
Speaker 1: after the bell this afternoon, does that bode well for
Speaker 1: Mark Zuckerberg's company well in the sense that, um, you know,
Speaker 1: it appears as if kind of more advertisers are opening
Speaker 1: up their wallets. I think that clearly does bode well
Speaker 1: for a Meta as well as some of the other
Speaker 1: social media names that have been hit hard here over
Speaker 1: the last couple of months. However, what we didn't find
Speaker 1: out from um Apple's results that could have more of
Speaker 1: an impact on on Meta is the fact that hey,
Speaker 1: some of these UM or you know, the the Apple
Speaker 1: um privacy changes could have more of an impact or
Speaker 1: like and definitely will have more of an impact on
Speaker 1: a name like Meta as well as Snap. So I
Speaker 1: think that's something that investors are clearly going to keep
Speaker 1: their eyes on and why we haven't seen as much
Speaker 1: of a move on Meta here in terms of the
Speaker 1: stock price ahead of their results. Just thirty seconds left
Speaker 1: here Angel, Well, but what are you expecting to hear
Speaker 1: about the metaverse? Yeah, I mean, listen, this is gonna
Speaker 1: be the first quarter where they kind of provide more
Speaker 1: details across both their business lines in terms of separating
Speaker 1: the the ad with their Facebook Reality Lab segment. At
Speaker 1: the end of the day, I don't expect you'll see much.
Speaker 1: It's still a small part of the business, but I
Speaker 1: think they'll they'll definitely kind of hype it up significantly
Speaker 1: and kind of talked about kind of the hardware opportunities
Speaker 1: at least over the next twelve to eighteen months. And
Speaker 1: we do think the holiday sellers in season was extremely
Speaker 1: good for occultists, probably better than what most industry. They're
Speaker 1: looking at the tech focus continues. Thanks for this, Angelo
Speaker 1: Angelo Zeno, senior equity industry analyst at cf R A.
Speaker 1: And Google shares again, Karen the alphabet the parent company.
Speaker 1: They're up ten percent and Facebook up more than three
Speaker 1: percent ahead of earnings. All right, Nathan, thank you. It
Speaker 1: is five or fifty three on Wall Street. It is
Speaker 1: time for the Bloomberg Law Report, brought to you by
Speaker 1: American Arbitration Association. Business disputes are inevitable, resolve faster with
Speaker 1: the American Arbitration Association, the global leader in alternative dispute
Speaker 1: resolution for over ninety years. More at a d R
Speaker 1: dot org. Let's get to the legal stories we're watching
Speaker 1: this morning. From Bloomberg's Jeff Bellinger, the I R S
Speaker 1: is reminding taxpayers to be sure they have all necessary
Speaker 1: documents before filing their returns. Filing too soon could lead
Speaker 1: to processing to the Tyson Foods wants a federal appeals
Speaker 1: court to reconsider its ruling against the company, which is
Speaker 1: accused of not adequately protecting workers from COVID nineteen. The
Speaker 1: Equal Employment Opportunity Commission has been without a Senate confirmed
Speaker 1: top lawyer since March of last year. The agency says
Speaker 1: the vacancy hinders its ability to pursue certain legal strategies.
Speaker 1: Bloomberg Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg market Intelligence. Find out more
Speaker 1: at Bloomberg Law dot com. Thanks Jeff. Now, another legal
Speaker 1: story we're watching brings us to patent law. Today, the
Speaker 1: Washington football team will officially announce its new name. The
Speaker 1: renaming process has taken nearly two years and has been
Speaker 1: shrouded in secrecy for more In the Implications, John Grosso
Speaker 1: speaks to Bloomberg Pattents reporter Susan Decker, So, what are
Speaker 1: some of the extreme measures that sports franchises resort to
Speaker 1: in order to keep a name secret before an announcement
Speaker 1: like this? Ar going to file their trademark application in
Speaker 1: another country. They're going to file in Trinidad and Tobago
Speaker 1: and Mauritius, like these island nations that don't have a
Speaker 1: whole lot of internet access and and don't have a
Speaker 1: lot of public access and have policies that don't allow
Speaker 1: them to be public. This way you get the protection
Speaker 1: because the trademark application is good from the date of
Speaker 1: the first application, but you don't actually file the application
Speaker 1: in a country that has public access like the US
Speaker 1: for six months. You have that six months lead time
Speaker 1: so that you can get everything together. You have the protection,
Speaker 1: but you can get all of your splashy marketing stuff
Speaker 1: all together and then announce it. And when you announce it,
Speaker 1: you're still protected and that you're not going to have
Speaker 1: to worry about someone running to the trademark office to
Speaker 1: file an application on the name that you've chosen. And
Speaker 1: the Cleveland Major League Baseball club filed in Mauritius. They
Speaker 1: filed in Mauritius. Yes, and they filed into their own
Speaker 1: name under the Cleveland Indians name, which was their former team.
Speaker 1: And some companies like Apple, what they do is they'll
Speaker 1: set up a shell company and they'll set up a
Speaker 1: company that has some innocuous name like I P Management,
Speaker 1: and Apple's case for the iPad, they filed it under
Speaker 1: this innocuous sounding name in this remote trademark office and
Speaker 1: turn that tobacco and then when they were ready to
Speaker 1: announce the product, they filed their application in the US
Speaker 1: and then they quickly had that company subsumed into the
Speaker 1: Apple brand and the Apples company. So that there was
Speaker 1: no concern about ownership rights. So it's been almost two
Speaker 1: years since the Washington football team announced that they decided
Speaker 1: to change their name. Why is it taking so long
Speaker 1: to come up with a new name? And there aren't
Speaker 1: that many instances where you have a large, nationally known
Speaker 1: sports franchise switching their names. And it's not just the
Speaker 1: name of the team. You need to get the trademark
Speaker 1: on all the merchandise, on the video rights, on the
Speaker 1: TV rights, you need to get the websites, you need
Speaker 1: to get the social media counts, and you need to
Speaker 1: make sure that you can get the same name for
Speaker 1: all of these things. And in trademarks in particular, the
Speaker 1: trademark is only for a specific type of good. So
Speaker 1: when you have the Washington football team or any football team,
Speaker 1: you have to have that name that can be used
Speaker 1: for cups and hats and clothing and software. And you
Speaker 1: see that they just had a minefield that they had
Speaker 1: to go through. And as Bloomberg Patent's reporter Susan Decker
Speaker 1: speaking with the Juan Grasso. Catch more of that interview
Speaker 1: plus analysis of the latest legal news, by listening to
Speaker 1: The Bloomberg Law Show at ten pm Eastern time or
Speaker 1: subscribing to the Bloomberg Law podcast, and attorneys can find
Speaker 1: exceptional legal research and business development tools at Bloomberg law
Speaker 1: dot com and This is Bloomberg