Speaker 1: Live from the Bloomberg Interactor Berger Studios. This is Bloomberg
Speaker 1: Day Bright for Wednesday, September one. Coming up this hour,
Speaker 1: Wall Street braces for today's FED decision. In J. Powell
Speaker 1: news conference, Oil spikes higher after Vladimir Plutin steps up
Speaker 1: his war against Ukraine. We're live with the latest and
Speaker 1: bank CEOs had the Capitol Hill to testify before Congress.
Speaker 1: President Biden headlines a Democratic fundraiser in New York City.
Speaker 1: Plus a special master expresses skepticism about Donald Trump's legal arguments.
Speaker 1: Michael Barr. More ahead, I'm tryn stashdown sports Aaron Judge.
Speaker 1: It is six ft home Rama Yankees. Then one on
Speaker 1: a walk off Grand slamb the met with a dramatic
Speaker 1: comeback victory. That's all straight ahead on Bloomberg Day Breake
Speaker 1: on Bloomberg eleven, Trio, New York, Bloomberg Washington, d C,
Speaker 1: Bloomberg one, O six one, Boston, Bloomberg nine six, s Francisco,
Speaker 1: Sirius x M one nineteen and around the world on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg business Side.
Speaker 1: And good Morning, I'm Nathan Hagar, and I'm Karen Moscow
Speaker 1: and US Dock Index futures are little change this morning.
Speaker 1: We are coming up to five oh one on Wall Street,
Speaker 1: and we check the markets every fifteen minutes throughout the
Speaker 1: trading day on Bloomberg again SNP, NASDACDAL futures, they're all
Speaker 1: little change. The decks in Germany is down about two
Speaker 1: tents of upper cent ten year Treasury up nine thirty seconds.
Speaker 1: You have three point five two percent, and the yield
Speaker 1: on the two year three point nine to three percent.
Speaker 1: Bitcoin this morning is lower at eighteen thousand, eight hundred
Speaker 1: eighty dollars. Nathan Karen, we begin with the key meeting
Speaker 1: Wall Street has been waiting for all week. This afternoon
Speaker 1: we find out just how much the Fed raises interest rates.
Speaker 1: Let's start with a preview from Bloomberg Economics correspondent Michael McKee.
Speaker 1: Federal Reserve officials are about to put numbers on the
Speaker 1: pain they've been warning of in recent weeks. The benchmark
Speaker 1: US interest rate will go up likely three quarter is
Speaker 1: of a percentage point. But most importantly, they will publish
Speaker 1: new projections for the economy, which are likely to show
Speaker 1: slower growth and substantial rise in unemployment. Ahead all that
Speaker 1: will be reflected in higher interest rates, and those interest
Speaker 1: rates will stay higher for longer, all of which makes
Speaker 1: the dot plot the most important news out of the meeting.
Speaker 1: It's not what the Fed does now, but what it
Speaker 1: signals about what's next. Michael McKee, Bloomberg Daybreak, Right, Michael,
Speaker 1: thank you. Ahead of that decision, one former FED official
Speaker 1: as calling for the Central Bank to continue aggressive policy.
Speaker 1: We come up with former Atlanta FED president Dennis Lockhard.
Speaker 1: I believe they'll do seventy five, but I cannot fully
Speaker 1: rule out a hundred. I can rule out fifty. There's
Speaker 1: no justification for dialing back at this point, but I think,
Speaker 1: I really think the highest probability is seventy. Former Atlanta
Speaker 1: FED President Dennis Lockhard made the comments in an interview
Speaker 1: with the Bloomberg's Cantiling Hayes. Meantime, Karen One top Economists
Speaker 1: thinks the Feds going to far in raising rates. David
Speaker 1: Rosenberg of Rosenberg Research says the negative impact will be
Speaker 1: felt next year. Everybody applauding Power right now for doing
Speaker 1: what he's doing to crouss Yesterday's story, which is called inflation,
Speaker 1: is going to be ruining the day. Uh twelve months
Speaker 1: from now, when the recession is going to be deepening
Speaker 1: and we're not gonna have any idea how we're going
Speaker 1: to get out of it. David Rosenberg of Rosenberg Research
Speaker 1: made the comments on Bloomberg Surveillance. Join us for a
Speaker 1: special edition of Bloomberg Surveillance with live coverage of the
Speaker 1: FED decision. It's coming up at one thirty pm Wall
Speaker 1: Street Time on Bloomberg Radio and television. Well, another major
Speaker 1: story we're following this morning, Nathan focuses on Russia's ongoing
Speaker 1: war in Ukraine. Moscow is preparing to escalate the conflict.
Speaker 1: Vladimir Putin is vowing to use all means necessary in
Speaker 1: the war and announced what he calls a partial mobilization.
Speaker 1: We get more from Bloomberg's Maria today O in Brussels.
Speaker 1: The war is going to continue for longer. If you
Speaker 1: thought there was a diplomatic past solution possible to this
Speaker 1: and the dam term, I mean, I think after this
Speaker 1: you can really kiss it goodbye because it's not going
Speaker 1: to happen. And then the other issue is that it
Speaker 1: does speak to some extent to the urgency of the
Speaker 1: Russian army to provide additional manpower to what is now
Speaker 1: a very messy front line for Russia, especially in the
Speaker 1: week of that counter offensive from the Ukrainian army last week.
Speaker 1: It had been an embarrassment. We had been waiting for
Speaker 1: the response, and now we have it here. Bloomberg's Maria
Speaker 1: today O says oil is spiking on news of Russia's
Speaker 1: mobilization and checking prices now and I make screwed oil
Speaker 1: up one point nine of a dollar fifty three and
Speaker 1: eighty five dollars forty eight cents of barrel brand is
Speaker 1: at one point eight percent and ninety two one cents.
Speaker 1: The Russian invasion of Ukraine is also dominating talks at
Speaker 1: the United Nations General Assembly in New York City. Bloomberg's
Speaker 1: memory Hordern is there and filed this report. Who's going
Speaker 1: will be holding sham votes as soon as this weekend
Speaker 1: to absorb four regions into Russia that are part of Ukraine.
Speaker 1: We spoke to Secretary General Again Seltenberg, who says this
Speaker 1: does not change the facts on the ground. Such votes
Speaker 1: referendums general to any legitims and therefore they don't change
Speaker 1: the nature of the conflict. This remains a war of
Speaker 1: aggression by or shy against the independence of the nation
Speaker 1: in Europe. Biden will be addressing the Assembly on Wednesday,
Speaker 1: and according to his National security advisor Jake Sullivan, where
Speaker 1: he will want to communicate is that he pushes back
Speaker 1: against aggressors who seek to threaten, coerce and intimidate their members,
Speaker 1: or to violently attack them and Recordern Bloomberg News New York.
Speaker 1: All right, and Marie, thank you all back in our
Speaker 1: nation's capital. The country's biggest banks are also in focus today.
Speaker 1: Top executives had the Capitol Hill for two days of
Speaker 1: testimony on the banking industry, and we get the story
Speaker 1: from Bloomberg's Jeff Billinger. House Committee hearing on banking accountability
Speaker 1: is set for today. A Senate panel will hold a
Speaker 1: hearing on annual oversight of the nation's largest banks tomorrow.
Speaker 1: The CEO of JP more can Chase plans to tell
Speaker 1: the lawmakers that increasing capital requirements for big banks is
Speaker 1: bad for America. Jamie Diamonds prepared remarks hit on a
Speaker 1: range of issues, and he says his firm plays an
Speaker 1: important role in the global economy. He warns of harm
Speaker 1: from arbitrary increases in capital requirements. The CEOs of Bank
Speaker 1: of America, Wells Fargo when City Group will also be
Speaker 1: heard from Jeff Bublinger Bloomberg day Break. All right, Jeff. Thanks.
Speaker 1: In another note this morning on Wall Street, Banks they're
Speaker 1: likely to lose about six hundred million dollars after unloading
Speaker 1: debt for the buyout of Citric Systems. Investors required significantly
Speaker 1: higher yields than banks had promised to private equity firms
Speaker 1: Vista Equity and Elliott Investment Management. That forced Goldman Sachs,
Speaker 1: Bank of America and others to absorb the losses and Nathan.
Speaker 1: Another major corporation is making hiring changes. Boeing is cutting
Speaker 1: accountants and hiring more engineers. The airplane maker plans to
Speaker 1: outsource about a hundred fifty accounting and finding its jobs
Speaker 1: as it shrinks its corporate structure. At the same time,
Speaker 1: it will increase hiring to support engineering, manufacturing and product
Speaker 1: development and futures. Again little change this morning, Tenure Treasury
Speaker 1: up eight thirty seconds. You know, three point five two
Speaker 1: per cent straight ahead, your latest local headlines plus a
Speaker 1: check of sports. And this is Bloomberg. Thanks parent. It's
Speaker 1: five o seven on Wall Street, where at sixty four
Speaker 1: degrees in Central Park. We got accident clean up on
Speaker 1: the southbound Major Diagan near Yankee Stadium. Details coming up
Speaker 1: in traffic. First Michael Barr with what else is going
Speaker 1: on in New York and around the world. Good morning, Michael,
Speaker 1: Good morning, Nathan. President Joe Biden had lined the fundraiser
Speaker 1: in New York last night that raised about two million
Speaker 1: dollars for Democratic Party organizations. It featured celebrity guests including
Speaker 1: actor Robert de Niro and Mayor Eric Adams. The events
Speaker 1: on the night before Biden's addressed to the UN General Assembly,
Speaker 1: was held at the Manhattan home of designer and Democratic
Speaker 1: activists Henry Munio's Venezuela migrants flown to Martha's Vineyard in
Speaker 1: Massachusetts sued Florida Governor Around As Santis and its transportation secretary,
Speaker 1: accusing them of a fraudulent and discriminatory scheme to relocate them.
Speaker 1: Texas Sheriff has opened an investigation into the flights as well.
Speaker 1: Massachusetts Governor Charley Baker. I am very glad that the
Speaker 1: sheriff chose to open an investigation. I think that's the
Speaker 1: right thing to do. Meanwhile, Governor de Santis says many
Speaker 1: of the migrants and asylum seekers want to go to Florida,
Speaker 1: an he means to stop them. We have to go
Speaker 1: and figure out, Okay, who are those people likely to be,
Speaker 1: and if you can do it at the source and
Speaker 1: divert to sanctuary jurisdictions, the chance they end up in
Speaker 1: Florida as much less. Governor de Santis hinted of more flanks.
Speaker 1: New York Mayor Eric Adams announced another sign of the
Speaker 1: city's gradual return to the pre pandemic norms. We will
Speaker 1: also provide additional flexibility to business by lifting the private
Speaker 1: sector mandate on November first. This put the choice in
Speaker 1: the hands of New York businesses, and it's imperative that
Speaker 1: we're asking them to continue to encourage their employees to
Speaker 1: get their vaccines and boost shots. Mayor Adam says they
Speaker 1: will continue to require its own workers to be inoculated.
Speaker 1: New York will install surveillance cameras and its subway train cars,
Speaker 1: and a push to crack down on crime underground. Governor
Speaker 1: HOCl says there will be two cameras per train car.
Speaker 1: The Special Master requested by Donald Trump to review thousands
Speaker 1: of documents the FBI ceased from his moral Lago Home
Speaker 1: express skepticism about some of the former president's arguments at
Speaker 1: his first hearing in the matter. U S District Judge
Speaker 1: Raymond Derry pushed back on the Trump lawyer's position and
Speaker 1: they didn't need to detail any alleged declassifications of highly
Speaker 1: sensitive records. Hurricane Fiona is threatening to strengthen into a
Speaker 1: Category four storm as it lashes the Turks and Caicos
Speaker 1: Highlands and was forecast to squeeze past Bermuda later this week.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a und twenty countries. Michael Barrow,
Speaker 1: This is Bloomberg, Nathan. Thanks Michael. Coming up to five
Speaker 1: ten on Wall Street time for the Bloomberg Sports Update.
Speaker 1: Good morning, John Teshown, Good morning, night than a memorable
Speaker 1: night at Yankee Stadium. Didn't look like it would be.
Speaker 1: Yankees came up out of the night. It ain't trailing
Speaker 1: the Pirates eight to four. Aaron Judge had gone over
Speaker 1: for three with a walk, putting let off the night.
Speaker 1: So one more chance to join a very exclusive club.
Speaker 1: So we're going at good, there it goes. It is hot,
Speaker 1: cut is fun goods done. He's tied up. Baby, it's
Speaker 1: a Judgey and Glass his sixtieth home run of the year.
Speaker 1: Wow w f A and they call Judge Matches Babe
Speaker 1: rute from nine seven next up as Roger Morrison's sixty
Speaker 1: one in sixty one the homermate at eight to five,
Speaker 1: Yankees were hardly done against the Pirates Will Crow. They
Speaker 1: loaded the bases and with still nobody out, John Carlos
Speaker 1: Stanton Houstin's coming off the injured list last month was
Speaker 1: nine first. Evan d two with thirty strikeouts, delivered a
Speaker 1: walk up grand slam the Yanks one, nine to eight.
Speaker 1: The Yankee debut of Bronxville native Harrison Bader. He drove
Speaker 1: in three runs plenty of drama for the Mets. In Milwaukee,
Speaker 1: they trailed three nothing six to any when Pete Alonzo
Speaker 1: tied the game with his second three but on home
Speaker 1: and his many nights and an inning later, Francisco Lindoor
Speaker 1: did a game winning grand slam of his own and
Speaker 1: Mets won seven five to stay game ahead of Atlanta.
Speaker 1: Moriy Wills has died at eighty nine. Long time Dodgers
Speaker 1: shorts dot the n L m v P in the
Speaker 1: eighteen sixty two when he stole a hundred four basis.
Speaker 1: A couple of Nora's trophy winning defenseman had retired. PK
Speaker 1: Suban only thirty three, played for three teams, including the
Speaker 1: Devil's and Zadano Chara, who's forty five one time Islander,
Speaker 1: spent most of his career in Boston. The six ft
Speaker 1: nine inch jar a tallest player in NHL history. John
Speaker 1: Stashward Bloomberg Sports, Nathan John, Thank you. SNP futures little
Speaker 1: changed right now in Town. Futures are up five points.
Speaker 1: Nanstack futures down eight. The tenure treasury is up seven
Speaker 1: thirty seconds. Heal three point five three percent ahead of
Speaker 1: the Fed decision this afternoon, we preview next with Jennifer
Speaker 1: Lee of Bemo Capital Markets. Bloomberg Day Break brought to
Speaker 1: you by Peapack Private Wealth Management. Pepack Private Wealth Management
Speaker 1: knows that a portfolio is more than a collection of assets.
Speaker 1: It's a path to your future. Visit Peapack Private dot
Speaker 1: com and begin your financial legacy. Today, markets headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot
Speaker 1: com the Bloomberg Business Atland at Bloomberg quicktape. This is
Speaker 1: a Bloomberg business flash and I'm Karen. Moscow markets are muted,
Speaker 1: with investors mostly sideline before another expected rate hike from
Speaker 1: the Federal Reserve treasuries, gold and the dollar jumping after
Speaker 1: Russian President Vladimir Putin stepped up his roar against Ukraine.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg again U s m P nasdactal future
Speaker 1: is all little change. The decks in Germany's down about
Speaker 1: a quarter per cent ten your treasury of seven thirty seconds,
Speaker 1: you have three point five three percent. They yield on
Speaker 1: the two year three point nine four percent. Nine max
Speaker 1: screwed oil up two point four percent of two dollars
Speaker 1: four cents at eighty five dollars ninety eight cents of errol.
Speaker 1: Comics called up seven tenths per cent or ten dollars
Speaker 1: eighty cents at sixteen eighty one nine announced the euro
Speaker 1: is at point nine nine one three against the dollar.
Speaker 1: British found one point one three eight and a yen
Speaker 1: one three point h U look at a bitcoin down
Speaker 1: six tents of a percent at eighteen thousand, eight hundred
Speaker 1: sixty dollars. And today we're watching for reports on existing
Speaker 1: home sales out at ten o'clock Wall Street time, and
Speaker 1: the Federal Reserve interest rate decision is out at two
Speaker 1: as a Bloomberg Business Flash. Now here's Michael Barr with
Speaker 1: more on what's going on around the world. Michael, good morning,
Speaker 1: Good morning, Karen. Russian President Vladimir Putin has announced a
Speaker 1: partial mobilization in Russia. The measure appeared to be an
Speaker 1: admission that Moscow's war against Ukraine is not going according
Speaker 1: to plan after nearly seven months of fighting and the
Speaker 1: mid recent battlefield losses for the Kremlin's force. President Biden
Speaker 1: speaks to the UN General Assembly later this morning. Aide
Speaker 1: say the President will accuse Russia, a permanent member of
Speaker 1: the Security Council, of striking at the very heart of
Speaker 1: the UN Charter for invading Ukraine. Will carry President Biden's
Speaker 1: address live. In baseball, the Yankees beat the Pirates nine
Speaker 1: eight Aaron Judge. It is sixtieth home run this season,
Speaker 1: one away from Roger Emeraz's American League record. The Mets
Speaker 1: and the Red Sox won the Orioles and Nationals lost,
Speaker 1: the A's and Giants were winners. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more of than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. I'm Michael bar This
Speaker 1: is Bloomberg, Nathan. Thanks Michael. It's five nineteen on Wall Street,
Speaker 1: Live from the Bloomberg Interactive Brokers studios. This is Bloomberg
Speaker 1: Daybreak on this FED decision day. We are joined live
Speaker 1: now by Jennifer Lee, senior economist at BMO Capital Markets.
Speaker 1: So here we are, jen The markets have fully priced
Speaker 1: in seventy five basis points. Is a FED going to deliver?
Speaker 1: I think it will. Good morning, Um, it's kind of funny,
Speaker 1: not in the haha way, of course, but the fact
Speaker 1: that you know, we're almost hoping for Sunday five beats,
Speaker 1: which is, you know, just like half a year ago
Speaker 1: is considered you know, completely out of out of the ordinary,
Speaker 1: but seventy five basis points. I think it will be
Speaker 1: the result today is seventy basis points here to stay.
Speaker 1: Is that what we're going to get in the subsequent meetings?
Speaker 1: What are you looking for in the dot plot? So
Speaker 1: we are. I mean, the dot pods always important, and
Speaker 1: I think there is a slight risk now that there
Speaker 1: that we could see it tipped over to the above
Speaker 1: four you know, our basics scenarios to end uh the
Speaker 1: year at three seven five percent, So another seventy five
Speaker 1: basis points um today and then another fifty in November.
Speaker 1: And maybe deer started a slow things down a bit um,
Speaker 1: but I think it's still like higher for now at least.
Speaker 1: What's behind that case for a pivot towards slower rate hikes?
Speaker 1: Why do you think the Fed could move that way? Uh,
Speaker 1: you know, there's all of course, there's the risk of
Speaker 1: doing too much, and that's that's always going to be
Speaker 1: at risk. But they have seen some of the you know,
Speaker 1: some of the economics slow down that you know from
Speaker 1: retail sales. I mean, consumers are starting to feel the
Speaker 1: bite of higher rates, of higher inflation, the fact that
Speaker 1: inflation expectations are starting to flicker down a little bit um.
Speaker 1: Certainly not enough to start dialing back the hawkishness, but
Speaker 1: it's something that I'm sure that the officials are keeping
Speaker 1: an eye on. They can't keep doing Sundays five forever.
Speaker 1: You know, things you have to kind of start slowing
Speaker 1: down at some point. It's what point do you think
Speaker 1: we're going to start to see policy actually affect the inflation? Right?
Speaker 1: We haven't seen it much at this point, particularly given
Speaker 1: the hotter than expected inflation. Read we got on consumer
Speaker 1: prices this month, right, So the fact that energy prices
Speaker 1: have come down certainly helps a lot in terms of
Speaker 1: confidence and all that. But the core measure that that
Speaker 1: they are keeping an eye on, and that last one
Speaker 1: alway saw a couple weeks ago, or was the last
Speaker 1: week a couple weeks ago was quite the eye popper,
Speaker 1: you know, point six months to month. So I think
Speaker 1: we're going to have to see at least three months
Speaker 1: of slower you know, or TA or the fact that
Speaker 1: you know, of coursep I started to be tamed somewhat.
Speaker 1: Um it will be the factor I think in getting
Speaker 1: the fedshare Palace sort of ease up on his hawk
Speaker 1: is tone and somewhat, But it's going to take a
Speaker 1: few more months, and you know, just one or two
Speaker 1: months it's not going to cut it. What's the risk
Speaker 1: of economic damage from tighter policy? I mean, we have
Speaker 1: started to see slign signs of the slowdown is there
Speaker 1: a risk of tipping this economy into recession with the
Speaker 1: kind of aggressive moves that the FED has been making
Speaker 1: over the last few months. That's a great question. I
Speaker 1: think there's a very risk, real risk of that happening.
Speaker 1: And it's almost like we've already been seeing quite a
Speaker 1: number of hikes, very aggressive hikes already. The fact that
Speaker 1: the because that the consumer is still spending, the economy
Speaker 1: is still holding on it. But as you point out,
Speaker 1: it has been softening. It might have to take I
Speaker 1: have to say it, it might even take a recession
Speaker 1: in order to not conflation lower. So there is that risk.
Speaker 1: It's very real risk if we see the Fed go
Speaker 1: above seventy. I mean, they're still the pricing of the
Speaker 1: possibility of a hundred basis point move. What's the market
Speaker 1: reaction do you think, Oh, it'll be bad? I think.
Speaker 1: I mean, although there has been talking about a hundred
Speaker 1: basis points, I think personally, I think a hundred beeves
Speaker 1: is just going to recom panic. You know, the hour
Speaker 1: person is going to be thinking, you know, what's the
Speaker 1: Fed thinking? Or no, what does the Fed know that
Speaker 1: I don't know? You know, And I think it would
Speaker 1: be it would be too much. Personally, I I do
Speaker 1: believe that, and I think semi five basis points accompanied
Speaker 1: by continue to hawk Is talk during the press conference
Speaker 1: would be I think the base case, and I think
Speaker 1: that would be the proper move. To make Hunter basis
Speaker 1: points would be too much, in which is RecA panic.
Speaker 1: Are you expecting further hawk is talk from Chairman pal?
Speaker 1: Obviously we did get that at Jackson whole last month.
Speaker 1: What are you gonna be listening for the news conference
Speaker 1: in our last thirty seconds here, I'm gonna be listening
Speaker 1: for new words, a new descriptive, what words that he's
Speaker 1: going to be using? And his book HAP has been
Speaker 1: improving every every every month, it seems. In the last
Speaker 1: one was the need to act forth rightly I think
Speaker 1: was the last one he'd made just before the blackout period.
Speaker 1: But I think the acushness will will be maintained, but
Speaker 1: I don't see it being amped up evey further. Thanks Jen, Yeah,
Speaker 1: thanks to I really appreciate getting your thoughts ahead of
Speaker 1: the decision two pm Wall Street time, of course, and
Speaker 1: the news conference with Chairman Powell to follow at two thirty.
Speaker 1: We will have full coverage for you on a special
Speaker 1: edition of Bloomberg Surveillance that begins at one thirty across
Speaker 1: Bloomberg Radio and television ahead of that, thanks again to
Speaker 1: Jennifer Lee, senior economists at BMO Capital Markets. Futures not
Speaker 1: really moving much SMP future is little change. DAL futures
Speaker 1: up nine NASDAC futures lower by fourteen points in anticipation
Speaker 1: of the Fed decision. This afternoon actions in the bond
Speaker 1: space with the ten year up seven thirty seconds. Now
Speaker 1: with THEE three point five three percent yield on the
Speaker 1: two year at three point nine four percent. You're listening
Speaker 1: to Bloomberg day Break on this Fed decision day. Bloomberg
Speaker 1: day Break brought to you by pe Pack Private Wealth Management.
Speaker 1: A portfolio is more than a collection of assets, it's
Speaker 1: a path to your future. Visit pe Pack Private dot
Speaker 1: Com Broadcasting Wive from the Bloomberg Interactive Broker Studio in
Speaker 1: New York, Bloomberg E Living for you to Washington, d C,
Speaker 1: Bloomberg ninety one to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg n sixteen to the country Sirius
Speaker 1: XM to A one nineteen and around the globe to
Speaker 1: Bloomberg business app in Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. It's five thirty on Wall Street. Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscale. We're just about
Speaker 1: four hours away from the open of US trading. Let's
Speaker 1: get you up to date on the news you need
Speaker 1: to know at this shower where we begin with this
Speaker 1: afternoon's FED decision, where we find out how much the
Speaker 1: Central Bank will raise interest rates. Former Atlanta Fed President
Speaker 1: Dennis Lockhart says he expects a seventy five basis point
Speaker 1: hike and things rates will continue going higher until late
Speaker 1: next year. It's just very unlikely you're going to see
Speaker 1: a pivot from one meeting to the other, going from
Speaker 1: hawk ish to devish overnight. So I would expect that
Speaker 1: once they get to a point they feel they need
Speaker 1: to either pause or stop, that rate will be sustained
Speaker 1: for probably several meetings fromer. Atlanta Fed President Dennis Lockhart
Speaker 1: tells us there's no case for anything less than seventy
Speaker 1: five basis points today. Stick with us for live cover
Speaker 1: to the Fed decision and a special edition of Bloomberg
Speaker 1: Surveillance beginning at one thirty pm Wall Street time on
Speaker 1: Bloomberg Radio and television. Another major story where following Karen,
Speaker 1: involves an escalation by Russia in the war with Ukraine.
Speaker 1: Vladimir Putin is vowing to mobilize troops and is also
Speaker 1: renewing nuclear threats. Occupation authorities installed Russia announced referendum votes
Speaker 1: aimed at annexing territory in Ukraine. Former Defense Secretary Mark
Speaker 1: Esper says that vote should not be recognized. These reasons
Speaker 1: will vote to join Russia to be an X and
Speaker 1: that's predictable, and Putin will manipulate in whatever way you can.
Speaker 1: I don't think we should recognize him. I think the
Speaker 1: sovereign charactory. The boundaries of Ukraine have been identified clearly
Speaker 1: recognized by the UN since the breakup of the Soviet
Speaker 1: Union in and we should continue to assist Ukraine in
Speaker 1: restoring their complete sovereignty to include CRIMEA Former Defense Secretary
Speaker 1: Mark Esper spoke with Our Washington corresponded Joe Matthew on
Speaker 1: Bloomberg Sound on Catch the program weekdays at five pm
Speaker 1: Eastern on Bloomberg Radio, Well Nathan. The country's biggest banks
Speaker 1: are also in focus this morning, with top executives set
Speaker 1: to spend two days testifying on Capitol Hill. JP Morgan
Speaker 1: CEO Jamie Diamond is expected to tell lawmakers higher capital
Speaker 1: requirements are bad for America. We'll bring you that hearing
Speaker 1: live on Bloomberg Radio coming up in the ten am hour.
Speaker 1: And a note from Boeing this morning, Karen the airplane
Speaker 1: maker is cutting accountants and hiring more engineers, bowing plans
Speaker 1: to outsource some finance jobs while increasing hiring for engineering,
Speaker 1: manufacturing and product development and futures. This morning, well SMP
Speaker 1: future is starting to show a little more strength. Are
Speaker 1: about five points now DAL futures as well at forty
Speaker 1: nine nowsday futures remain little change. Attend your treasury up
Speaker 1: six thirties seconds. You have three point five three percent
Speaker 1: in the yield on the two year three point nine
Speaker 1: four percent, and straight ahead we have your latest local
Speaker 1: headlines plus the check of sports, and this is Bloomberg.
Speaker 1: Thanks Scaring five thirty three on Wall Street, sixty four
Speaker 1: degrees in Central Park. Still they at the accident clean
Speaker 1: up southbound Major Diague in near Yankee Stadium. Michael Barr
Speaker 1: is here with what else is going on in New
Speaker 1: York end around the world, Michael, thank you very much, Nathan.
Speaker 1: President Biden's look partner the Democratic fundraiser in New York
Speaker 1: City last night. The event, on the eve of his
Speaker 1: address to the UN General Assembly, featured Mayor Eric Adams
Speaker 1: and actor Robert and Nero. It raised about two million
Speaker 1: dollars for the party. The event, with about a hundred people,
Speaker 1: was held at the Manhattan home of designer and Democratic
Speaker 1: activists Henry Munio's. New York Mayor Eric Adams said he
Speaker 1: is ending the city's COVID nineteen vaccine requirement for private
Speaker 1: sector workers on November one, one of the last remaining
Speaker 1: restrictions of the pandemic. Adams says, though city government workers
Speaker 1: will still need to be immunized against COVID, vaccinated rooks
Speaker 1: have carried out their jobs and he stepped up when
Speaker 1: the city needed them the most, and we think it's
Speaker 1: imperative to send the right message and lead by example.
Speaker 1: Mayor Adams also said the city is dropping a requirement
Speaker 1: that students who participate in after school activities be vaccinated.
Speaker 1: Hurricane Fiona is likely to strengthen to a Category four
Speaker 1: storm as it approaches Bermuda on Friday. Philippe happened with
Speaker 1: the National Hurricane Center says Viana remains a Category three
Speaker 1: major hurricane with maximum sustained wins of a hundred twenty five.
Speaker 1: Bermuda has a tropical st watch. Will be talking with
Speaker 1: them a little bit later to see if they are
Speaker 1: going to be potentially upgrading that to a warning. And
Speaker 1: the storms should be passing by basically just to the
Speaker 1: west of Bermuda sometime on Thursday night or early Friday morning.
Speaker 1: The National Hurricane centators Philip Pappins says for you and
Speaker 1: a blast at the Turks and Caicos Islands after devastating
Speaker 1: Puerto Rico. Special Master task with inspecting the document seized
Speaker 1: in an FBI search at Mara Lago met with lawyers
Speaker 1: from the Trump team and Justice Department. Raymond Derry said
Speaker 1: he intends to push briskly through the review process. He
Speaker 1: appeared skeptical of the Trump James reluctance to say whether
Speaker 1: it believed the records had been declassified. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than under journalist and analysts more than
Speaker 1: a d twenty countries. Michael Barr, this is Bloomberg. Nathan,
Speaker 1: thanks Michael on Wall Street. Time for the Bloomberg Sports
Speaker 1: Day with John Stshaw. All right, Nathan, Yankee fans went
Speaker 1: to the stadium to see some history. Four times Aaron
Speaker 1: Judge had come to the plate. Everyone took out their
Speaker 1: cell phones, but Judge was over three with a walk. Then,
Speaker 1: in the bottom of the ninth inning against the Pirates,
Speaker 1: Will Crow, who's a relative of Babe Ruth's teammate Red
Speaker 1: Roughing of panted Judge Homer four thirty feet to left field,
Speaker 1: number sixty, equaling what the Babe did in nineteen seven
Speaker 1: and joining the sixty home run club, but also includes
Speaker 1: only Barry Bonds, Mark McGwire, Sammy Sosa, and Roger Marris.
Speaker 1: He of course had sixty one. Marris's two sons were
Speaker 1: at the stadium last night. They'll be back there tonight.
Speaker 1: The Judge Homer left the Yankees still trailing the Pirates
Speaker 1: eight to five, but they loaded the bases and with
Speaker 1: Crow Skill on the mound, still nobody out. I'll step
Speaker 1: Johant Carlos, Stanton, Dr Pabo is gonna be God a
Speaker 1: Grand Slam to win the game. No one out bases
Speaker 1: loaded Grand Slam bottom of the ninth and the Yankees
Speaker 1: have I'm back in the ninth inning with five runs
Speaker 1: to win the game nine eight. The car stand had
Speaker 1: been over three or three strikeouts, and since coming off
Speaker 1: the injured list last month, he was nine for seventy
Speaker 1: two with thirties strike Gauts. Mets had a big Grand
Speaker 1: Slam of their own Francisco indoors seventh inning given the
Speaker 1: Mets of seven five win in Milwaukee. They had tied
Speaker 1: the game and in the earlier on a Pee Alonzo
Speaker 1: three run shot Atlanta one again raise Clinton playoff spot.
Speaker 1: They stayed one game behind the Mets there. Even in
Speaker 1: the lost column. Cleveland took a big step towards winning
Speaker 1: the Ale Central five runs in the eleventh to beat
Speaker 1: the White Sox ten seven and go up by five.
Speaker 1: John Stashwar Bloomberg Sports Nathan John. Thanks, It's five thirty
Speaker 1: seven on Wall Street. Time for the Tri State Business Report.
Speaker 1: Here's Bloomberg's ed Corey. As rents in New York City
Speaker 1: reached new heights, the number of affordable housing units produced
Speaker 1: in the last year fell. The Department of Housing Preservation
Speaker 1: and Development financed about sixteen thousand units in the fiscal
Speaker 1: year beginning July one, one that's drop from the previous year.
Speaker 1: New York's Financial regularly their plans to propose guidance to
Speaker 1: help banks manage risk posed by climate change. New York
Speaker 1: Superintendent of Financial Services Adrian Harris says it will focus
Speaker 1: largely on operational resiliency, rising temperatures and increases of extreme
Speaker 1: weather events. The Democratic state lawmaker behind New Jersey's plastic
Speaker 1: bag bands says the law has to be changed after
Speaker 1: people become inundated with reusable bags from home delivery. Bob
Speaker 1: Smith says one possible fixes allowing home delivery to once
Speaker 1: again used paper bags or cardboard boxes. That your Bloomberg
Speaker 1: Try State Business Report. I'm ed Corey, Thank you had
Speaker 1: eight on Wall Street. Bloomberg Radio is on the air
Speaker 1: from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I'm Steve Polas content Chan
Speaker 1: Wins in New York. We're talking about how dangerous the
Speaker 1: Internet and b for kids. I'm cornitanahoan kt r H
Speaker 1: in Houston. Gap is cutting five corporate jobs as the
Speaker 1: deals with growing costs. I'm Gina Servetti in for w
Speaker 1: BBM in Chicago. I'm reporting that the FDA has found
Speaker 1: new flaws at an Indiana vaccine factory that produces COVID
Speaker 1: nineteen vaccines. I'm Stephen Carroll and Bloomberg d a B
Speaker 1: Digital Radio in London. We've been reporting on Russian President
Speaker 1: Vlasimir Putin calling up reserve soldiers to bolster his invasion
Speaker 1: of Ukraine. I'm a Gory on w t a M
Speaker 1: in Cleveland. I'm reporting great television is moving at three
Speaker 1: Cleveland TV stations, The Independent. Those are some of the
Speaker 1: stories our twenty seven hundred Bloomberg journalist and analysts working
Speaker 1: on this morning around the world. It's five thirty nine
Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion.
Speaker 1: This editorial was written by the Bloomberg Editorial Board. The
Speaker 1: cryptocurrency market has granted US policymakers the opportunity of a lifetime.
Speaker 1: Less than a year ago, crypto was on the verge
Speaker 1: of becoming a systemic threat, gathering disciples, leverage, and political
Speaker 1: clout faster than regulators could get a grip then the
Speaker 1: danger dissipated. The market imploded before reaching critical mass, entering
Speaker 1: the crypto winter that persists to this day. Since this
Speaker 1: reprieve might not last long, policy makers should act now
Speaker 1: to impose much needed rules on the market. The technology
Speaker 1: underlying crypto may yet yield benefits, but the speculative frenzy
Speaker 1: surrounding it still has the potential to do a lot
Speaker 1: of damage. Rarely has history granted authorities a second chance
Speaker 1: to head off such an obvious hazard to the financial system.
Speaker 1: They shouldn't let it go to waste. This editorial was
Speaker 1: written by the Bloomberg Editorial Board. For more Bloomberg opinion,
Speaker 1: please go to Bloomberg dot com, slash opinion or opi
Speaker 1: n go on the Bloomberg terminal. These has been Bloomberg
Speaker 1: Opinion and listen for Bloomberg Opinion editorials every weekday. At
Speaker 1: this time, terminal customers can read more at O p
Speaker 1: I n go. Future is starting to move a touch
Speaker 1: higher now we have SMP futures up eight points, now
Speaker 1: futures up seventy four. Nasdaq Future is now in the green,
Speaker 1: up nine points. In the tenure Treasury yield now three
Speaker 1: point five. This is Bloomberg Bloomberg eleven three oh Weather
Speaker 1: a mix of sun in clouds today with a high
Speaker 1: near eighty degrees, and he showers will end early Tomorrow,
Speaker 1: will turn partly sunny up for seventies, mostly sunny breeze
Speaker 1: the only mid sixties for Friday. Right now sixty four degrees.
Speaker 1: Markets headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, the Bloomberg Business at and at
Speaker 1: Bloomberg Quick Tape. He's a Bloomberg Business blash and I'm
Speaker 1: Karen Moscow. And markets are pretty much muted, with investors
Speaker 1: mostly sideline before an They're expected rate high from the
Speaker 1: Federal Reserve Treasuries, Golden the dollar are jumping after Russian
Speaker 1: President Vladimir Putin stepped up his roar against Ukraine. We
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg and my lesson p Futures are starting to
Speaker 1: see a little more strength. They're now up nine points.
Speaker 1: They're extending their games just a little bit and so
Speaker 1: are down. Futures up seventy nine. Nowsday Future is now
Speaker 1: up eleven. The decks in Germany is little changed, and
Speaker 1: your Treasury up six thirty seconds. You have three point
Speaker 1: five three percent yield on the two year three point
Speaker 1: nine four percent. NIMEX screwed oil is up two and
Speaker 1: a half percent, up two dollars twelve cents at eighty
Speaker 1: six dollars six cents a barrel. Comex schooled up seven
Speaker 1: ten percent or eleven dollars seventy cents at sixteen eighty
Speaker 1: two eighty announce the euro point nine nine to nine
Speaker 1: against the dollar British found one point one three four
Speaker 1: six and the yen one forty three point eight nine.
Speaker 1: And Bitcoin this morning is now little change at eighteen thousand,
Speaker 1: nine hundred eighty dollars. And today we are watching for
Speaker 1: reports and existing home sales ats at ten o'clock Wall
Speaker 1: Street time, and the Federal Reserve interest rate decision is
Speaker 1: out at two as a Bloomberg Business Flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world. Michael,
Speaker 1: thank you very much. Karen. President Biden is in New
Speaker 1: York City today joining fellow world leaders at the United Nations.
Speaker 1: The White House says the President will address a range
Speaker 1: of issues in his speech later this morning, but his
Speaker 1: main focus will be the war in Ukraine. While President
Speaker 1: Biden is expected to deliver a harsh message to President Putin,
Speaker 1: officials say he will not call for Russia's removal from
Speaker 1: the UN Security Council. We will carry the President's address
Speaker 1: live and we'll have more on Russian a few minutes.
Speaker 1: In baseball, the Yankees beat the Pirates nine eight. Aaron
Speaker 1: Judge hit the sixtieth home run of the season, went
Speaker 1: away from Roger Mara's American League record. The Mets and
Speaker 1: Red Sox one, the Orioles and Nationals lost, The A's
Speaker 1: and Giants were winners. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktake, powered by more
Speaker 1: than twenty seven hundred journalists analysts more than a hundred
Speaker 1: twenty countries. Michael, this is Bloomberg. Navier, Hi, Michael, thank you.
Speaker 1: Forty nine now on Wall Street Life from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg day Break. Let's get
Speaker 1: more now on Russia. Right now. With President Vladimir Putin
Speaker 1: announcing a partial mobilization in Ukraine, vowing to use all
Speaker 1: means necessary in the war, Let's bring in Maria to
Speaker 1: Dale for more on this or your correspondent for Bloomberg
Speaker 1: Radio and Television, joining us live from our bureau in Brussels, Maria.
Speaker 1: Good morning, a pretty dramatic announcement yesterday overnight from the
Speaker 1: Russian president. Is this talk of a special military operation
Speaker 1: now out the window? Well? Is it out the window?
Speaker 1: What it shows her that it is definitely not going
Speaker 1: according to plan just step. Until a few days ago,
Speaker 1: the Russian said everything was going smoothly, that they had
Speaker 1: a plan in place and the goals would be achieved
Speaker 1: in in accordance to that plan, and that there would
Speaker 1: be no need for anything that would look like conscription
Speaker 1: or mobilization. And today you do have a part of
Speaker 1: one where the Russians, to some extent, not publicly, but
Speaker 1: if you read between the lines, they concede they need
Speaker 1: extra men power on the front line, that they need
Speaker 1: more men to be able to fight this war against Ukraine.
Speaker 1: And this is coming a week after they suffered a logistics,
Speaker 1: very embarrassing logistics collapse in the region of hard Gift
Speaker 1: and they had to pull back. It also goes back
Speaker 1: and again it's very connected to some extent with this
Speaker 1: idea of the referendums that will take place in the
Speaker 1: next few days in some of the regions that Russias
Speaker 1: still control, so that means that they would essentially become
Speaker 1: part of the Russian Federation. We always know that with
Speaker 1: these referendums, the result is already clear even before you vote,
Speaker 1: there will be a restanding yes to joining Russia. But
Speaker 1: if that happens, then that is clearly an escalation in
Speaker 1: the war. How is this likely to be received in Russia, Maria,
Speaker 1: We've seen a lot of reports coming through out of
Speaker 1: Russia that is that in Putin maybe losing support, particularly
Speaker 1: among some of the elites in Moscow. But I think
Speaker 1: it's always very difficult to see what the Oli girls
Speaker 1: really think, what the elites around Vladimer put And think,
Speaker 1: and whether he's supported or not in the Krumlin, just
Speaker 1: because that place is sealed, and ultimately what happens or
Speaker 1: next will be decided by Ladomir Putting, at least in
Speaker 1: the short term. The key question to meet, beyond the
Speaker 1: elites or the Oligars or the rich Russians, who of
Speaker 1: course are losing money as a result of this war,
Speaker 1: is in fact society is the average of Russian is
Speaker 1: just going to change the perception. Up until now, this
Speaker 1: had been something that was going on in a foreign
Speaker 1: country that was shown on TV, almost like it's reality TV,
Speaker 1: and you may be happy or proud for your country
Speaker 1: or not. You may be in favor of the war
Speaker 1: or not, but it didn't really have an impact on
Speaker 1: the everyday lives of people to that extent. Now you're
Speaker 1: in a situation where if you are in the reserve
Speaker 1: army for the Russia an army, you may get a
Speaker 1: letter in your mailbox that says, Okay, pack your things,
Speaker 1: you have to go fight in Ukraine a professional army.
Speaker 1: I mean, I guess my question to you as if
Speaker 1: you get that letter, would you want to go and
Speaker 1: and fight Ukrainians, who up until a year ago were
Speaker 1: described as your Slavic brothers, who are people that are
Speaker 1: very similar to you. Would you go? What about European
Speaker 1: cohesion against this Maria? What's the reaction in Europe, particularly
Speaker 1: now that they're heading into the colder months, of course,
Speaker 1: and already facing an energy an energy crunch. Well, it's
Speaker 1: the reaction precisely to the speech is hard to track
Speaker 1: for the time be emp because uh, there's a time
Speaker 1: lag between the speech that came out this morning, and
Speaker 1: the fact that most of European leaders are in fact
Speaker 1: in the United States right now. There's a big time difference.
Speaker 1: So when the speech dropped, they were probably sleeping and
Speaker 1: getting through our sleep before the next meeting. But but
Speaker 1: but I would point, however, to the words that we
Speaker 1: heard yesterday from the French President of under m qun
Speaker 1: Uh the Chancellor Shocks both said this is a return
Speaker 1: of imperialism. It's an imperialistic war on Russia to Ukraine.
Speaker 1: Is the fact that some nations in the world that
Speaker 1: believe themselves to be powerful and have powerful weapons, feel
Speaker 1: they can just scrawl into a country that they deem
Speaker 1: is a minor power and is weaker, and therefore they
Speaker 1: have this raid to just rule over the country, and
Speaker 1: that is not acceptable. In two, Thanks Maria, good having
Speaker 1: you on with us this morning after this announcement from
Speaker 1: the Russian President. Maria Today o europe correspondent for Bloomberg
Speaker 1: Radio and Television, joining us live this morning from our
Speaker 1: bureau in Brussels. Karen Nathan, It is five fifty four
Speaker 1: on Wall Street and it is time now for the
Speaker 1: Bloomberg The Law Report, brought to you Buy American Arbitration
Speaker 1: Association business disputes are inevitable, resolve faster with the American
Speaker 1: Arbitration Association, the global leader in alternative dispute resolution for
Speaker 1: over ninety years, and more a d r dot org.
Speaker 1: Now here's a legal story we're watching this morning. Florida
Speaker 1: Governor Rondas Santis just defending his decision to send about
Speaker 1: fifty undocumented Venezuelan immigrants spy plane from San Antonio in
Speaker 1: Texas to Martha's Vineyard in Massachusetts, even indicating he will
Speaker 1: repeat the stunt. But in Texas sheriff says the immigrants
Speaker 1: were lured onto the flight and he's going to investigate
Speaker 1: for more. Bloomberg's June Grosso speaks to immigration law expert
Speaker 1: Jack Chin, a professor at US Davis Law School. The
Speaker 1: sheriff of Bear County, Texas, says he's starting a criminal investigation,
Speaker 1: but didn't say what laws were involved. Is what Florida's
Speaker 1: governor did here illegal? Well, there might be a few
Speaker 1: things wrong with that legally. One is you can't trick
Speaker 1: people into going somewhere, even if you're the government. You
Speaker 1: can't say, for example, if you get on this bus,
Speaker 1: drive to where it's going there'll be a job waiting
Speaker 1: for you. If there isn't a job waiting for you,
Speaker 1: you can't deceive people, and that seems more like fraud
Speaker 1: to me. You also can't force people to go where
Speaker 1: they don't want to go, And so it's really going
Speaker 1: to depend on what the underlying facts are. How and
Speaker 1: why did these people get on the plane? What were
Speaker 1: they told? And I think they're very well might have
Speaker 1: been conceivably some deception involved, because I think a lot
Speaker 1: of people would not want to just get on the
Speaker 1: plane and go to Martha's vineyard with no place to
Speaker 1: stay and no job and no reasonable prospect of any
Speaker 1: sort of settled situation. And so one wonders what those
Speaker 1: people were told or if they voluntarily went on that
Speaker 1: particular journey. But if they did voluntarily go and they
Speaker 1: were told more or less what was going to happen
Speaker 1: to them when they got there, then it's not necessarily
Speaker 1: a criminal offense or a even necessarily a civil violation
Speaker 1: on the part of the people who organized that particular excursion.
Speaker 1: Texas governor has sent something like eleven thousand migrants from
Speaker 1: Texas to Chicago, New York and Washington and the mayors
Speaker 1: of those cities have said it's a crisis and asked
Speaker 1: for the federal government to step in, which it hasn't
Speaker 1: done so far. I think the federal government is being
Speaker 1: careful here not to fan the flames of political controversy.
Speaker 1: And I do think that the federal government should take
Speaker 1: responsibility for managing people who are here applying for asylum
Speaker 1: and refugee status. But I don't think that it's going
Speaker 1: to go on forever. I really don't. I think there's
Speaker 1: going to be litigation. I think at some point a
Speaker 1: state or the federal government is gonna find some way
Speaker 1: to get involved, and at a minimum, I would bet
Speaker 1: you know, given the lawyers are involved now, that there's
Speaker 1: going to be some way to make sure that the
Speaker 1: people seeking asylum were transported across the United States give
Speaker 1: informed consent before they go. As I say, it seems
Speaker 1: unlikely that they would have given informed consent as the
Speaker 1: situation is now, because nobody wants to be driven somewhere
Speaker 1: and dumped off with no support. Ms Jack Chin, a
Speaker 1: professor at US Davis Law School, speaking with the Bloomberg
Speaker 1: student Grosso. Catch more of that interview, plus analysis of
Speaker 1: the latest legal news by subscribing to the Bloomberg Law
Speaker 1: Podcast or downloading the show at Bloomberg dot com slash podcast.
Speaker 1: Attorneys can find exceptional legal research and business development tools
Speaker 1: at Bloomberg law dot com and on the Bloomberg terminal
Speaker 1: at b law Go, and futures are now higher, extending
Speaker 1: their gains. Still ahead. On Bloomberg day Break, a check
Speaker 1: on the business headlines and all the news you need
Speaker 1: to start your day. This is Bloomberg