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Speaker 1: My from the Bloomberg Interactive Burker Studios is Bloomberg day

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Speaker 1: Break for Monday, April two. Coming up this hour, Secretary

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Speaker 1: of State Lincoln and Defense Secretary Austin meet with Ukrainian

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Speaker 1: President vladimir's Olinsky and Keen Emmanuel mccron wins another term

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Speaker 1: as French president. Stocks in China plunge on COVID concerns,

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Speaker 1: and Twitter grows more receptive towards Elon Musk's takeover offer.

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Speaker 1: The New York City firefighter has not in the line

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Speaker 1: of duty. Plus, the Supreme Court is set to hear

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Speaker 1: arguments involving the separation of church and state. I'm Michael

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Speaker 1: block More. I'm John Stage. Sports the Mets and Yankees

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Speaker 1: both one NBA playoff wins from Milwaukee, Miami, Denver, and

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Speaker 1: New Orleans. That's all s training ahead on Bloomberg Daybreak

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Speaker 1: on Bloomberg eleven three, on New York, Bloomberg one, Washington,

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Speaker 1: d C, Bloomberg one O six one, Boston, Bloomberg nine

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Speaker 1: sixties and Francisco Syrius Exam one nine team and around

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Speaker 1: the world on Bloomberg Radio dot Com and via The

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Speaker 1: Bloomberg Business. Good Morning, I'm Nathan Hagart and I'm Karen Moscow,

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Speaker 1: u S stock Index futures are lower this morning. We're

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Speaker 1: coming up to six o one on Wall Street, and

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Speaker 1: we checked the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg, SNP Future is down thirty six points and

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Speaker 1: down futures down two hundred seventy one ANNOUNCEDACK Future is

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Speaker 1: down ninety two. Ten year treasury up eighteen thirty seconds,

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Speaker 1: l two point eight two percent. Have they yield on

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Speaker 1: the two year two point six zero percent, Nathan, Karen.

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Speaker 1: We'll get back to markets in just a minute. But first,

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Speaker 1: a significant diplomatic development in the war in Ukraine. Secretary

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Speaker 1: of State Anthony Blincoln and Defense Secretary Lloyd Austin have

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Speaker 1: met with President Vladimir z Lensky in Kiev. They announced

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Speaker 1: a hundred sixty five million dollars in ammunition sales and

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Speaker 1: said US diplomats will return to Ukraine as soon as

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Speaker 1: this week. Secretary b Lincoln says Ukraine will prevail on

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Speaker 1: the battlefield. Russia has already failed and Ukraine has already

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Speaker 1: succeeded because the principal a that president who brought to

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Speaker 1: this in his own words, was to fully subsume Ukraine

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Speaker 1: back into Russia to take away its sovereignty and independence,

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Speaker 1: and that has not happened, and fairly will not have.

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Speaker 1: Secretary of State B. Lincoln was joined by Defense Secretary

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Speaker 1: Lloyd Austin, who says the US wants to ensure Russia

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Speaker 1: remains weakened. It has already lost a lot of military

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Speaker 1: capability and a lot of a lot of its troops

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Speaker 1: quite brightly, and we want to see them not have

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Speaker 1: the capability to very quickly reproduce that capability. Secretaries Austin

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Speaker 1: and b. Lincoln are the highest ranking US officials to

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Speaker 1: visit Ukraine since Russia's invasion began. And Francis Morning Nathan

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Speaker 1: Politics Front and Center. Emmanuel mccrown has won a second

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Speaker 1: term as president and we get more from Bloomberg's Francis Laqua.

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Speaker 1: In Paris, Emmanuel mccollon defeated far right leader mahind Theban

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Speaker 1: on a pro business, pro European platform. He's the first

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Speaker 1: sitting president to get a second term in twenty years.

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Speaker 1: McCoy is on course to win about fifty eight percent

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Speaker 1: of the vote compared with for been, a narrower victory

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Speaker 1: than the previous contest in tween. The outcome is good

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Speaker 1: news for investors who had predicted that a Loupen victory

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Speaker 1: would deliver shock to markets on the scale of the

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Speaker 1: UK's vote to leave the EU or the election of

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Speaker 1: Donald Trump in the US. But the rise and support

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Speaker 1: from behind Lupins and nationalist program also reflects a bitterly

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Speaker 1: divided country. Speaking to supporters in front of the Eiffel

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Speaker 1: Tower in Paris, Makon thanked French voters for trusting him

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Speaker 1: after five years of hard times. He acknowledged many people

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Speaker 1: voted for him only to block the far right and

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Speaker 1: vowed to be president of all in Paris. I'm from

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Speaker 1: s Laqua. Bloomberg Daybreak, Francine Thanks. In Asia, overnight stocks

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Speaker 1: and China plunged almost five percent or worsening COVID outbreak

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Speaker 1: is fueling fears of a bigger slowdown in the world's

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Speaker 1: second largest economy. And we get more from Bloomberg Daybreak

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Speaker 1: Asia anchor Bryan Curtis. Authorities have lockdown some parts of

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Speaker 1: the capitol. Policymakers are racing to prevent a repeat of

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Speaker 1: the Shanghai outbreak that has hobbled the city for weeks.

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Speaker 1: Shangha reported record daily deaths over the weekend that the

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Speaker 1: lockdowns could hurt growth. Oil and iron ore tumbled in

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Speaker 1: Monday morning trading. Brian Curtis, Bloomberg Daybreak. All right, Brian,

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Speaker 1: thank you all Back here in the US. We're focusing

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Speaker 1: on Twitter. The social media company is growing more receptive

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Speaker 1: to Elon musk forty three billion dollar takeover offer, and

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Speaker 1: we get the latest live from Bloomberg's Rnita Young. Good morning, Rinda,

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Speaker 1: Good morning, Karen. Bloomberg. Sources say Elon Musk met with

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Speaker 1: Twitter executives on Sunday to discuss his offer. Twitter's board

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Speaker 1: initially countered Musk's proposal with a poison pill, which would

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Speaker 1: make it more expensive for any investor, including Musk, to

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Speaker 1: acquire stock beyond a fiftent steak. Musk currently owns about

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Speaker 1: nine percent of Twitter, but The Wall Street Journal reports

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Speaker 1: Musk says he will not adjust his fifty four dollars

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Speaker 1: and twenty cents a share offer for Twitter that's above

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Speaker 1: Friday's closing price. The journal also reports a deal could

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Speaker 1: be finalized as soon as this week. Live in New York.

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Speaker 1: I'm Rnita Young, Bloomberg Daybreak. We need to thanks. Corporate

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Speaker 1: earning are also in focus, with more than a third

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Speaker 1: of the companies in the SMP five hundred reporting. This week,

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Speaker 1: we get a preview from Bloomberg's Charlie Pellot, Apple, Amazon,

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Speaker 1: and other technology giants report results, as do major industrial, healthcare,

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Speaker 1: and consumer goods companies. Sarah Malick is chief investment officer

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Speaker 1: at nouven. Who we're watching for for earnings are with

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Speaker 1: the demand outlook, pricing, power, supply chain issues. So going forward,

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Speaker 1: we're so bullish that earnings will continue to drive this

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Speaker 1: market higher. This week we hear from Alphabet, Microsoft, Intel,

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Speaker 1: and Texas Instruments among tech names. Also this week, three

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Speaker 1: M Boeing, g E, G, m Ford, Caterpillar, Exonmobile, and

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Speaker 1: Visa in New York. Charlie Pellet Bloomberg day break. All right, Charlie,

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Speaker 1: thank you. Another impact on earnings employee pay. According to

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Speaker 1: a survey by the National Association for Business Economics, wages

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Speaker 1: increased at a record seventy of US companies in the

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Speaker 1: first quarter. About half of the firm's survey are still

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Speaker 1: reporting shortages of skilled labor. Turning to politics now, Karen

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Speaker 1: a warning to fellow Democrats from Senator Elizabeth Warren. She

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Speaker 1: says her party could be in real trouble in this

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Speaker 1: year's elections if it doesn't do more about inflation. I

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Speaker 1: think we're going to be in real trouble if we

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Speaker 1: don't get up and deliver. Then I believe that Democrats

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Speaker 1: are going to lose Democrats when when they do what

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Speaker 1: when they work on behalf of working people. Senator Elizabeth

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Speaker 1: Warren tells CNN Democrats must push through legislation to tamp

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Speaker 1: down soaring prices. Oh they think. Christine mcguard is also

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Speaker 1: speaking out about inflation. The ECB president says both the

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Speaker 1: US and Europe are struggling to contain prices, but the

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Speaker 1: challenges are different. Right now, half of Europe's inflation stems

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Speaker 1: from surging energy costs. I believe that we share the

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Speaker 1: same result, which is to tame inflation, which is to

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Speaker 1: use all the tools that we have to do so,

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Speaker 1: but we're facing the different beast. ECB President Christine Leguard

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Speaker 1: tells CBS is face the nation that if she raised

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Speaker 1: interest rates today, it would not bring down energy prices.

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Speaker 1: You can catch Face the Nation every Sunday on Bloomberg

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Speaker 1: Radio looking at energy prices right now Karen dim Ex

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Speaker 1: screws down four point four percent or four dollars forty

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Speaker 1: two cents at ninety cents in barrel. Futures are moving

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Speaker 1: lower as well. Straight ahead your latest local headlines, plus

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Speaker 1: a check of sports. This is Bloomberg. It sounds six

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Speaker 1: oh seven on Wall Street. Were at forty seven degrees

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Speaker 1: in Central Park. Still dealing with an accident investigation on

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Speaker 1: the Garden State Parkway past X at one sixteen. Details

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Speaker 1: coming up in traffic. First, Michael Bars here with more

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Speaker 1: on what's going on in New York and around the world.

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Speaker 1: Good morning, Michael, Good morning Nathan. Officials say a New

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Speaker 1: York City firefighter and a civilia have died in a

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Speaker 1: Brooklyn house fire where a ceiling partially collapsed. Acting Fire

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Speaker 1: Department of New York Commissioner Laura kavanas at thirty one

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Speaker 1: year old firefighter Timothy Klein was a six year veteran

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Speaker 1: of the department. The incident commander identified deteriorating conditions and

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Speaker 1: ordered all members out of the building. As they were

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Speaker 1: doing so, there was a partial collapse of the ceiling.

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Speaker 1: Four members were caught in that collapse. Commissioner kavana says

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Speaker 1: eight other firefighters were also injured and another resident sustained

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Speaker 1: minor injuries. Mayor Eric Adams more inclines death, saying the

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Speaker 1: city had lost one of his bravest. Meanwhile, Mayor Adams

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Speaker 1: also talked about crime in the city. We removed eighteen

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Speaker 1: hundred guns off the streets about city since I've been

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Speaker 1: elected eighteen hundred and so we're put in place the

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Speaker 1: foundation of dealing with the immediate needs of violence. But

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Speaker 1: we also stopped in the pipeline that caused his children

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Speaker 1: to get involved in violence. Mayor Adams made his comments

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Speaker 1: on CDs IS sixty Minutes, which aired last night. As

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Speaker 1: COVID cases rise in New York City, The new Commissioner

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Speaker 1: of Health in New York City, doctor Ashwin Vessan, is

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Speaker 1: disappointed in learning that some city teachers got fake vaccination

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Speaker 1: cards to keep their jobs. It really undermines trust. It

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Speaker 1: undermines trust in one another, It undermined trust in public

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Speaker 1: health and undermines trust in government. Dr Pissan also says

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Speaker 1: he disagrees with the federal judges ruling to end the

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Speaker 1: masked mandates for passengers on planes, trains, and buses. Jury

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Speaker 1: selectioned against today and one of the highest profile US

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Speaker 1: capital of riot trials. A former New York City cop

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Speaker 1: is accused of assaulting Washington police on January six. Thomas

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Speaker 1: Webster is charged with assaulting police at the Capitol. Webster

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Speaker 1: is expected to argue self defense against an officer who

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Speaker 1: was overstepping. The Supreme Court is set to hear arguments

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Speaker 1: today in the case of a former high school football

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Speaker 1: coach in Bremerton, Washington. Joseph Kennedy was fired by the

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Speaker 1: public school district after refusing to stop praying on the

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Speaker 1: field after games. Kennedy says his First Amendment rights were violated.

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Speaker 1: Global News twenty four hours a day on air and

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Speaker 1: on Bloomberg Quicktake, powered by more than hundred journalist and

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Speaker 1: analyst more than a hundred twenty countries. Michael Barr, This

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Speaker 1: is Bloomberg, Nathan. Thanks Michael six o nine on Wall

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Speaker 1: Street time for the Bloomberg Sports Update with John Steinshauer.

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Speaker 1: All right, Nathans, some early season struggles, and yet here

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Speaker 1: are the Yankees right now, tied for the best record

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Speaker 1: in America. Lead they used to have their most lopsided

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Speaker 1: win of the year and their first series sweet Feet

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Speaker 1: the Guardians at the Stadium tended to Anthony Rizzo got

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Speaker 1: him going to run homer first inning and Yanks were

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Speaker 1: up six nothing by the third. Plenty of run support

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Speaker 1: for Garrett Cole got his first win. Get a nice

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Speaker 1: elevation from the craft. Obviously nice. Uh, it's just a

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Speaker 1: nice day overall. Really well played game. Um, just to

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Speaker 1: get finish to the serious suite Fount hard Um and

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Speaker 1: really just put a cherry on top and played to

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Speaker 1: play a complete three games. Fans and the bleachers behave

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Speaker 1: themselves after what happened Saturday. Yanks are off tonight. The

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Speaker 1: lost Baltimore. Tomorrow Mets with a six to win at Arizona.

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Speaker 1: Tyler McGill improved the three and oh the Mets have

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Speaker 1: now played five series and they've won all five. They're

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Speaker 1: in St. Louis to night battle of National League to

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Speaker 1: Visian Leaders final week. How the NHL regular season, Carolina

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Speaker 1: just beat the Islanders five to two, and that puts

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Speaker 1: the Hurricanes four points ahead of the Rangers of the

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Speaker 1: two teams fight to win the division. The King's Face

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Speaker 1: the Rangers at the Garden tomorrow night. At Barkley's Tonight,

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Speaker 1: Nets and Celtics gave four with Boston going for the sweep.

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Speaker 1: There was some hope that facing elimination, the Nets would

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Speaker 1: have Ben Simmons in the line up for the first

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Speaker 1: time ever, but sighting his sore backs, Simmons will not

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Speaker 1: play to stay alive, and Nets clearly need a better

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Speaker 1: game from Kevin Rant. He has been decisively outplayed in

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Speaker 1: the series by the Celtics star Jason Fatum. Milwaukee and

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Speaker 1: Miami easy wins on the road for three one. Series

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Speaker 1: leads in the East and the West. Denver State alive

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Speaker 1: still fills Golden State three one. New Orleans beat Phoenix.

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Speaker 1: That series tied at two. John Stash went Bloomberg Sports.

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Speaker 1: All right, John, thank you. Right now, SMP futures are

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Speaker 1: down thirty eight points down, futures down two nastack futures

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Speaker 1: are lower by a hundred six points. The ten your

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Speaker 1: treasury is up seventeen thirty seconds. The yield two point

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Speaker 1: point six zero per cent. You're listening to Bloomberg Daybreak,

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Speaker 1: Bloomberg eleven three oh Weather partly sunny today with highs

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Speaker 1: fifties by Wednesday. Attorney partly sunny right now forty seven

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Speaker 1: degrees in Central Park markets, Headlines and breaking news twenty

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Speaker 1: Business at and at Bloomberg Quick Tape. This is a

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Speaker 1: Bloomberg Business lash and I'm Karen Moscow stocks and commodities

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Speaker 1: are tumbling this morning as China's worsening COVID outbreak compounds

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Speaker 1: fear sparked by faster federal reserve tightening. Bonds are rising.

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Speaker 1: We checked the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg Guess and P Future is down thirty seven

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Speaker 1: down one point seven per cent. Ten year treasury of

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Speaker 1: seventeen thirty seconds yield two point eight three percent. That

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Speaker 1: yield on the two year two points zero percent. Nine

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Speaker 1: announced the euro one point oh seven three five against

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Speaker 1: the end at one eight point one nine bitcoin this

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Speaker 1: morning lower down too and a half percent at thirty

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Speaker 1: eight thousand, five hundred twenty dollars. That's a Bloomberg business flash.

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Speaker 1: Now here's Michael Barr with more on what's going on

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Speaker 1: around the world. Michael Karen, thank you very much. Ukrainian

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Speaker 1: officials say the U S Secretaries of State and Defense

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Speaker 1: have met with President Volodamir z Lensky in Kiev. The

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Speaker 1: two American officials said the US would be providing more

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Speaker 1: than seven hundred million dollars in new military assistance for Ukraine.

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Speaker 1: French President Emmanuel mccrawl has secured another term in office,

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Speaker 1: handily defeating his far right opponent Marine n The Chrome

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Speaker 1: won the second term with roughly fifty eight percent of

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Speaker 1: the vote. The pen got about forty two percent. In MLB,

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Speaker 1: the Yankees and Mets one, the Red Sox and Orioles lost.

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Speaker 1: The Giants beat the Nationals twelve three, the A's one

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Speaker 1: in the NBA playoffs, It is due or die tonight

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Speaker 1: for the Nets. They have to beat the Celtics in

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Speaker 1: lost to the Nuggets. Golden State still has a three

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Speaker 1: games one lead in that series. Global News twenty four

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Speaker 1: hours a day on air and on Bloomberg Quicktake, powered

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Speaker 1: by more than twenty seven hundred journalists and analysts more

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Speaker 1: than a hundred twenty countries. Michael Barren, this is Bloomberg.

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Speaker 1: Nathan Alright, Michael. Thanks at six nineteen on Wall Street

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Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak.

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Speaker 1: Let's turn out to what's happening in Asia. We did

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Speaker 1: see a major selloff in Chinese stocks overnight. It's having

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Speaker 1: reverberations throughout the market this morning, with a surge of

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Speaker 1: COVID cases in Beijing, raising figures of the kinds of

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Speaker 1: lockdowns the sent Shanghai into a panic earlier this month.

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Speaker 1: For more, we're joined from Hong Kong this morning by

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Speaker 1: Bloomberg Chief Asia Economics correspondent and the Current and good morning.

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Speaker 1: Just how bad is the COVID situation in Beijing from

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Speaker 1: how we can see it right now? So the total

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Speaker 1: caseload Nathan is very low. I think it's officially below thirty.

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Speaker 1: But that's not the real story. The concern is that

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Speaker 1: Beijing has a converse stealth spread on their way of

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Speaker 1: MCRON and we all know how transmissive of that is.

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Speaker 1: And a concern is that that Chola will be heading

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Speaker 1: for two of its most important cities being under lockdown.

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Speaker 1: Shanghai's lockdown continues to grind on there as contained because

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Speaker 1: cases remains someone elevated and the authorities remain committed to

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Speaker 1: COVID zero. That Beijing is not yet under lockdown. What's

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Speaker 1: going on. What's going on is that one part of

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Speaker 1: the cha Yang district, which is home to about three

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Speaker 1: and a half million people, which is kind of an

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Speaker 1: ex patty part of town, banking part of town, they

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Speaker 1: are forcing through a lot of mandatory testing, and there

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Speaker 1: are some communities, maybe fourteen communities that have been described

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Speaker 1: as being sealed up by the authorities, but a citywide

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Speaker 1: lockdown is not yet in place. To concern though, is

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Speaker 1: if that the authorities deemed that the cases aren't under

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Speaker 1: control at some point soon that of course you'll see

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Speaker 1: a broader lockdown. And that's why we've seen reports of

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Speaker 1: conic shopping in the supermarkets, and of course that big

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Speaker 1: reaction on markets where you have the U won't sell

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Speaker 1: off down to it's to be unsure, you won't felt

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Speaker 1: it was weakest than seventeen months. Stock slumped and arn

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Speaker 1: or came off. Because of course, another lockdown will be

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Speaker 1: very bad for the economic story. Yeah, we certainly saw

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Speaker 1: how bad it was for Shanghai when that lockdown was underway,

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Speaker 1: But we have started to see some of those restrictions

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Speaker 1: get lifted in Shanghai. Does that give us any indication

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Speaker 1: of how things could play out in Beijing? It's a

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Speaker 1: modest easy according to her our reporting from there. You know,

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Speaker 1: they're lifting it in the piece meal basis where there

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Speaker 1: is where they believe there isn't examples of community spread.

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Speaker 1: But you know, we've also read reports of restrictions being

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Speaker 1: easy and restrictions being reinforced at the same time. And

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Speaker 1: by the way, over the weekend we reported the offenses

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Speaker 1: were being installed around Shanghai to steal off buildings or

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Speaker 1: positive cases had been found. So you know, Shanghai remains

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Speaker 1: under quite restrictive circumstances, I think, and there is no

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Speaker 1: sense of an end game to it yet. But what

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Speaker 1: I would say, Nathan, is that for all of the

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Speaker 1: economic hit, there are those who say, if China can

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Speaker 1: get these infections under control, that they will then reopen

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Speaker 1: pretty quickly and allow the factories and production and industry

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Speaker 1: production to get motoring again pretty soon, and to allow

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Speaker 1: of course consumers to get shopping again. So that would

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Speaker 1: obviously negate the hit to the economy. But that's obviously

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Speaker 1: the big question. When will trying to get these cases

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Speaker 1: under control and when will they be confident enough to

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Speaker 1: allow people to move around freely again. And that's a

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Speaker 1: serious question right now. But you have to think, and

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Speaker 1: there's some political considerations as well, with President shi jin

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Speaker 1: Ping of trying to keep support among not just polit

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Speaker 1: bureau but the Chinese people themselves, or has he consolidated

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Speaker 1: power enough that he can weather this No matter how

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Speaker 1: the COVID situation plays out, well, you'd have to say

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Speaker 1: it's a big test because you know, Chinese facing its

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Speaker 1: biggest pandemic outbreak now since all of this began way

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Speaker 1: back in early So this is a big test of

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Speaker 1: the whole COVID zero approach. And and if you take

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Speaker 1: social media as as a metric as one gauge of

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Speaker 1: popular sentiment in Shanghai. We know people have been naturally

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Speaker 1: very upset by what's going on, So the authorities are

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Speaker 1: definitely under pressure, there's no doubt about it. In if

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Speaker 1: Beijing went into a big lockdown, then you would have

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Speaker 1: to say it will surely be a test of the

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Speaker 1: whole overall COVID zero strategy. And that's happening at a

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Speaker 1: time when the economy is already under some pressure from

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Speaker 1: external forces like the Russia invasion of Ukraine, which is

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Speaker 1: royal commodity markets, and of course signs of slowing demand

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Speaker 1: for Chinese exports. So there's definitely a lot of egle

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Speaker 1: on pressure on the authorities. But that's said Nathan, there

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Speaker 1: hasn't been any real signal of a rich East from

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Speaker 1: COVID zero just yet. In fact, all the signaling has

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Speaker 1: been quite adamant about it. Last week we had President

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Speaker 1: Shooting Pinion Hainan. He spoke, he spoke virtually to the

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Speaker 1: Boao Forum there and he made the point that you know, primacy,

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Speaker 1: people's lives has to be put above all else. He's

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Speaker 1: used previous forms to make the point that COVID zero

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Speaker 1: has got to be maintained in order to protect the people.

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Speaker 1: And of course the state press make the point that

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Speaker 1: living with COVID as as as we'll say to broad

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Speaker 1: westward as justus too, is not the model and not

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Speaker 1: the way for for China. One picular weekness I would say,

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Speaker 1: Nathan is, vaccination made for the elderly in China is

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Speaker 1: off the pace, and that's been seen as a vulnerability.

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Speaker 1: All right, Boomberg chief as your economics correspondent, and occurring

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Speaker 1: with us this morning from Hong Kong. As those concerns

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Speaker 1: about potential lockdowns in Beijing are reverberating through markets right now.

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Speaker 1: We have SMP futures down thirty three points down, futures

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Speaker 1: down two fifty four, Nasdaq futures lowered by eighty eight points.

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Speaker 1: Just ahead, Biden's cabinet visits Kiev, and Twitter gives el

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Speaker 1: and Musk's takeover all for a second look, the five

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Speaker 1: things you need to notice start your day just ahead

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Speaker 1: Bloomberg eleven three oh weather partly sunny, low sixties today,

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Speaker 1: a few showers possible tomorrow behind your sixty five, upper

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Speaker 1: fifties for Wednesday, turning partly sunny right now forty seven

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Speaker 1: degrees in Central Park, broadcasting live from the Bloomberg Interactive

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Speaker 1: Broker's studio in New York. Bloomberg E Living Free to Washington,

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Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one

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Speaker 1: to San Francisco, Bloomberg nine sixteen to the country, Sirius

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Speaker 1: XM to the one nine and around the globe the

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Speaker 1: Bloomberg Business at and Bloomberg Radio dot com. This is

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Speaker 1: Bloomberg Daybreak six thirty on Wall Street. Good morning, I'm

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Speaker 1: Nathan Hagar and I'm Karen Moscow, and we're just about

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Speaker 1: three hours away from the open of US training. It's

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Speaker 1: time for the five things you need to notice start

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Speaker 1: your day. Brought to you by Interactor Brokers. Interactor Brokers

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Speaker 1: more at ibk R dot com slash compare. The first

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Speaker 1: U S Secretary of State Anthony B. Lincoln and Defense

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Speaker 1: Secretary Lloyd Austin visited Ukraine yesterday to me with the

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Speaker 1: country's President, vladimir's Lensky. It's the highest level US visit

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Speaker 1: to Ukraine since Russia began its invasion Austin said he

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Speaker 1: wants to see Russia continue to lose its military capability.

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Speaker 1: You want to see Rosia weakened to the degree that

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Speaker 1: it can't do the kinds of things that it has

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Speaker 1: done in invading Ukraine. U S Secretary of Defense Lloyd

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Speaker 1: Austin and Secretary of State Anthony Blinkin met with a

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Speaker 1: Lensky in Kiev. The US promised over seven hundred million

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Speaker 1: dollars in financial assistance for Ukraine and its allies, and

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Speaker 1: Lincoln also announced diplomats will soon be returning to the country,

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Speaker 1: and US Secretary of State Anthony B. Lincoln was speaking

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Speaker 1: after his visit. Well meantime, in France, Kareny Manuel Macron

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Speaker 1: security victory over Marine Lapin in the country's presidential election yesterday.

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Speaker 1: Mccron is the first incumbent to win a second term

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Speaker 1: in France in two decades. And China stocks are slumping.

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Speaker 1: Is a COVID outbreak is stoking fears of a lockdown

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Speaker 1: in Beijing. US futures and European stocks also dropped. Right now.

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Speaker 1: S and P futures are down thirty six points at nasday.

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Speaker 1: Futures are down a hundred on the earnings front. This week, Karen, Apple, Amazon, Alphabet,

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Speaker 1: and Microsoft all report as too many major industrial, healthcare,

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Speaker 1: and consumer goods companies. Well A Big Tech reports earnings

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Speaker 1: at Twitter is growing more receptive to Elon musk forty

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Speaker 1: three billion dollar takeover offer. And we get the latest

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Speaker 1: line from Bloomberg's or need a young good morning Ready

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Speaker 1: to Good morning, Karen. Bloomberg. Sources say Elon Musk met

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Speaker 1: with Twitter executives on Sunday to discuss his offer. Twitter's

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Speaker 1: board initially countered Musk's proposal with a poison pill, which

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Speaker 1: would make it more expensive for any investor, including Musk,

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Speaker 1: to acquire stock beyond a fifteen percent stake. Musk currently

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Speaker 1: owns about nine of Twitter, but the Wall Street Journal

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Speaker 1: reports must said he will not adjust his fifty four

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Speaker 1: twenty cents a share offer for Twitter that's above Friday's

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Speaker 1: closing price. The journal also reports a deal could be

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Speaker 1: finalized as soon as this week. Life in New York.

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Speaker 1: I'm gonna need a young Bloomberg daybreak. All right, we

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Speaker 1: need to thank you. And that's the five things you

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Speaker 1: need to notice start your day. Brought to you by

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Speaker 1: Interactive Brokers and Futures Again moving lower this morning Straight Ahead,

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Speaker 1: your latest local headlines, plus a check of sports. And

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Speaker 1: this is Bloomberg. All right, Karen, thank you. Six thirty

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Speaker 1: three on Wall Street, degrees in Central Park. Still dealing

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Speaker 1: with that accident investigation on the southbound Garden State Parkway.

429
00:23:45,240 --> 00:23:47,320
Speaker 1: We'll get you the details coming up in traffic. First

430
00:23:47,359 --> 00:23:49,400
Speaker 1: Michael Barr with more on what's going on in New

431
00:23:49,480 --> 00:23:52,280
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.

432
00:23:52,320 --> 00:23:55,840
Speaker 1: A New York City firefighter was killed and others injured

433
00:23:55,880 --> 00:23:58,959
Speaker 1: after a house fire in Brooklyn. More than a hundred

434
00:23:58,960 --> 00:24:03,040
Speaker 1: firefighters where at the scene the three alarmed blaze. Mayor

435
00:24:03,200 --> 00:24:05,600
Speaker 1: Eric Adams says thirty one year old Timothy Kline was

436
00:24:05,640 --> 00:24:09,560
Speaker 1: one of four firefighters caught in a partial ceiling collapse.

437
00:24:10,160 --> 00:24:17,000
Speaker 1: It gives us great pain is sorrow to announce that

438
00:24:17,320 --> 00:24:21,480
Speaker 1: New York City has lost one of the bravest. Mayor

439
00:24:21,520 --> 00:24:25,040
Speaker 1: Adams also says a civilian apparently died in the blaze.

440
00:24:25,400 --> 00:24:28,080
Speaker 1: The Supreme Court is taking on a dispute between public

441
00:24:28,119 --> 00:24:31,200
Speaker 1: school officials and a former high school football coach who

442
00:24:31,240 --> 00:24:34,359
Speaker 1: wanted to kneel and pray on the field after games.

443
00:24:34,800 --> 00:24:38,280
Speaker 1: The case before the Justices involves Joseph Kennedy. He is

444
00:24:38,320 --> 00:24:42,280
Speaker 1: a former football coach at Bremerton High School in Bremerton, Washington.

445
00:24:42,800 --> 00:24:47,800
Speaker 1: Rachel Lizer, President and CEO of Americans United for Separation

446
00:24:47,840 --> 00:24:51,200
Speaker 1: of Church and State, representing the school district, says Kennedy

447
00:24:51,280 --> 00:24:54,320
Speaker 1: was asked to stop because there's a thin line between

448
00:24:54,400 --> 00:24:57,520
Speaker 1: church and state. When you're acting as an agent of

449
00:24:57,600 --> 00:25:02,160
Speaker 1: the state, you can't impose or religious views or practices

450
00:25:02,480 --> 00:25:07,040
Speaker 1: on school children, and this has been clearly established law

451
00:25:07,160 --> 00:25:12,639
Speaker 1: for decades. Rachel Liser, President and CEO of Americans United

452
00:25:12,680 --> 00:25:16,040
Speaker 1: for Separation of Church and State. Kennedy's lawyers say the

453
00:25:16,040 --> 00:25:20,040
Speaker 1: Constitution's freedom of speech and freedom of religion guarantees him

454
00:25:20,080 --> 00:25:23,240
Speaker 1: to pray on the field. The Biden administration is appealing

455
00:25:23,240 --> 00:25:26,040
Speaker 1: of federal judges ruling to end the mask mandate for

456
00:25:26,160 --> 00:25:30,200
Speaker 1: passengers on planes, trains, and buses. The termination of those

457
00:25:30,240 --> 00:25:33,719
Speaker 1: c d C travel restrictions come as COVID cases are

458
00:25:33,840 --> 00:25:37,280
Speaker 1: rising in places like New York City. The new Commissioner

459
00:25:37,320 --> 00:25:40,520
Speaker 1: of Health in New York City, Dr Ashwin Vassan, says

460
00:25:40,520 --> 00:25:44,639
Speaker 1: he's disappointed. Number One, from a public health standpoint, wearing

461
00:25:44,720 --> 00:25:48,760
Speaker 1: masks in indoor settings is is safe it's a safety issue.

462
00:25:49,359 --> 00:25:54,080
Speaker 1: Um and planes, trains and automobiles and public transport is

463
00:25:54,600 --> 00:25:58,280
Speaker 1: are really important higher risk locations because of the duration

464
00:25:58,359 --> 00:26:02,280
Speaker 1: of exposure. Talked Son also says it really undermines trust

465
00:26:02,359 --> 00:26:06,200
Speaker 1: when some city teachers got fake vaccination cards to keep

466
00:26:06,240 --> 00:26:09,199
Speaker 1: their jobs. Global News twenty four hours a day on

467
00:26:09,320 --> 00:26:12,240
Speaker 1: air end on Bloomberg Quick Take, powered by more than

468
00:26:12,359 --> 00:26:14,960
Speaker 1: twenty seven hundred journalists and analysts in more than a

469
00:26:15,040 --> 00:26:17,879
Speaker 1: hundred twenty countries. I'm Michael Barr, and this is Bloomberg NA.

470
00:26:18,200 --> 00:26:25,040
Speaker 1: Thanks Michael. Just about six thirty six on Wall Street

471
00:26:25,040 --> 00:26:27,879
Speaker 1: time for the Bloomberg Sports Update. Good morning, John Stash,

472
00:26:28,160 --> 00:26:31,320
Speaker 1: Morning Nathan. Strong start to the Mets season kntinues. They

473
00:26:31,359 --> 00:26:33,760
Speaker 1: won six two at Arizona's Tyler and McGill improved to

474
00:26:33,840 --> 00:26:35,440
Speaker 1: three and oh a home run for J. D. Davis.

475
00:26:35,440 --> 00:26:38,280
Speaker 1: The Mets have now played five series and they've lost

476
00:26:38,359 --> 00:26:40,920
Speaker 1: once and only once in each series. For a little

477
00:26:40,920 --> 00:26:43,280
Speaker 1: better team now Cardinals first place in the n L

478
00:26:43,359 --> 00:26:45,920
Speaker 1: Central match Chers or St. Louis Native on the Mountain St.

479
00:26:45,960 --> 00:26:48,240
Speaker 1: Louis for the Mets. Tonight, Yankees first wait for the

480
00:26:48,240 --> 00:26:50,960
Speaker 1: season ended with our most lopsided wind ten to two

481
00:26:51,160 --> 00:26:53,199
Speaker 1: over the Guardians at the Stadium. The Yanks were up

482
00:26:53,240 --> 00:26:55,639
Speaker 1: six nothing by the third, editing home runs three Anthony Rizzo,

483
00:26:55,960 --> 00:26:58,440
Speaker 1: d J. The Mayhew and the seldom used Tim Locasto

484
00:26:58,520 --> 00:27:00,600
Speaker 1: and Garrett Cole. They will get his first and able

485
00:27:00,640 --> 00:27:02,679
Speaker 1: to lower his e r A down to four. Yankees

486
00:27:02,720 --> 00:27:06,320
Speaker 1: are off tonight, Barkleys tonight, and Nets face elimination. Celtics

487
00:27:06,320 --> 00:27:09,320
Speaker 1: go for the series sweep. Nets coach Steve Nash after

488
00:27:09,359 --> 00:27:12,280
Speaker 1: the Game three loss, asked if Kevin Durant's quiet series

489
00:27:12,400 --> 00:27:14,760
Speaker 1: is the biggest problem the unforced turners. I don't think

490
00:27:14,800 --> 00:27:16,800
Speaker 1: Kevin has to go off. You know, we we we

491
00:27:16,880 --> 00:27:20,920
Speaker 1: shot a good percentage. Who of the balls that we

492
00:27:22,040 --> 00:27:26,000
Speaker 1: just gave up, you know, poor decision making, you know,

493
00:27:26,200 --> 00:27:29,600
Speaker 1: connecting simple passes and they're going the other way. That's

494
00:27:29,600 --> 00:27:32,200
Speaker 1: to me is in the difference in all three games,

495
00:27:32,200 --> 00:27:34,560
Speaker 1: and that's of course made the big trade. Philadelphia shipped

496
00:27:34,560 --> 00:27:36,760
Speaker 1: out James Harden. The key player that got in returns

497
00:27:36,800 --> 00:27:39,920
Speaker 1: Ben Simmons. But Simmons didn't play at all for the Sixers,

498
00:27:40,000 --> 00:27:41,920
Speaker 1: had mental issues and then he heard his back while

499
00:27:41,920 --> 00:27:43,639
Speaker 1: getting ready to play for the Nets. He was said

500
00:27:43,680 --> 00:27:46,080
Speaker 1: to be set to make his Nets debut tonight. It

501
00:27:46,080 --> 00:27:48,359
Speaker 1: would be his first game in nearly a year, but

502
00:27:48,440 --> 00:27:50,840
Speaker 1: Simmons woke up yesterday with the back still store. He

503
00:27:50,880 --> 00:27:54,160
Speaker 1: will not play Milwaukee in Miami. With wins at Chicago

504
00:27:54,200 --> 00:27:56,240
Speaker 1: and Atlanta, the Bucks and Heat have three one series

505
00:27:56,320 --> 00:27:59,000
Speaker 1: leads Denver one still trails Golden State three and one

506
00:27:59,040 --> 00:28:05,160
Speaker 1: New Orleans beat Max. That's you're surprisingly John sports. All right, John,

507
00:28:05,200 --> 00:28:07,480
Speaker 1: thank you. It is six thirty seven on Wall Street Time.

508
00:28:07,480 --> 00:28:08,960
Speaker 1: Now to take a look at stocks, some of the

509
00:28:09,040 --> 00:28:11,680
Speaker 1: names moving in the pre market, with Bloomberg Radio and

510
00:28:11,720 --> 00:28:15,280
Speaker 1: TV Markets correspondent creating Gupta created if you look at

511
00:28:15,280 --> 00:28:20,240
Speaker 1: the index level, looks like everything's moving lower everything, which

512
00:28:20,840 --> 00:28:22,479
Speaker 1: is kind of important here. To take a step back

513
00:28:22,600 --> 00:28:24,560
Speaker 1: before we do that, let's talk about the handful of

514
00:28:24,600 --> 00:28:27,800
Speaker 1: stocks and I reary meet. I really mean a handful, Nathan.

515
00:28:27,840 --> 00:28:31,040
Speaker 1: Only four stocks in the green this morning, and that's

516
00:28:31,119 --> 00:28:33,200
Speaker 1: I'm just gonna read them to you here. The biggest one,

517
00:28:33,320 --> 00:28:35,760
Speaker 1: I think is Twitter that everyone cares about this, of course,

518
00:28:35,800 --> 00:28:38,320
Speaker 1: coming after a report is from the Wall Street Journal

519
00:28:38,320 --> 00:28:40,600
Speaker 1: that Elon Musk and the board have come to some

520
00:28:40,680 --> 00:28:43,040
Speaker 1: sort of agreement. Now, of course, we do know that

521
00:28:43,080 --> 00:28:46,360
Speaker 1: there has been that kind of poison pill talk. How

522
00:28:46,400 --> 00:28:48,640
Speaker 1: the board wanted to prevent elon Musk or at least

523
00:28:48,640 --> 00:28:52,280
Speaker 1: get maybe a higher offer. Now reports suggests that forty

524
00:28:52,280 --> 00:28:55,040
Speaker 1: three billion dollar offered that's really or million four billion,

525
00:28:55,080 --> 00:28:58,760
Speaker 1: I'm sorry, billion dollars. It's Monday, Nathan. Billion dollar offer

526
00:28:59,240 --> 00:29:00,880
Speaker 1: still is on the able. They're going to work out

527
00:29:00,920 --> 00:29:03,040
Speaker 1: how the financing works out, though, so whether or not

528
00:29:03,080 --> 00:29:05,560
Speaker 1: that reporting can be confirmed can be backed up. That's,

529
00:29:05,560 --> 00:29:07,280
Speaker 1: of course we're gonna be waiting here, but for now,

530
00:29:07,680 --> 00:29:10,240
Speaker 1: investors kind of bullished on Twitter, especially on a risk

531
00:29:10,240 --> 00:29:13,040
Speaker 1: off day today, t w t R up zero point

532
00:29:13,120 --> 00:29:15,680
Speaker 1: eight percent. The other one that's getting quite a bit

533
00:29:15,680 --> 00:29:19,040
Speaker 1: of attention is PEN National Gaming. This comes after a

534
00:29:19,080 --> 00:29:22,400
Speaker 1: mortgage Stanley analyst raised the recommendation to an overweight from

535
00:29:22,400 --> 00:29:25,400
Speaker 1: an equal weight. The price target set to fifty one

536
00:29:25,600 --> 00:29:28,960
Speaker 1: dollars at increase from the last that's a kind of

537
00:29:29,280 --> 00:29:32,120
Speaker 1: a recommendation that's boosting PEN shares p e n N

538
00:29:32,640 --> 00:29:36,760
Speaker 1: up two point nine percent. Nathan. Obviously, the morning seems

539
00:29:36,760 --> 00:29:40,040
Speaker 1: to be dominated by what's happening in China, the growth

540
00:29:40,080 --> 00:29:44,240
Speaker 1: concerns there with the worry about COVID lockdowns. Could things

541
00:29:44,320 --> 00:29:46,440
Speaker 1: turn around low. Later on this week, when we start

542
00:29:46,480 --> 00:29:48,440
Speaker 1: to hear from a lot of companies in the SMP

543
00:29:48,800 --> 00:29:51,760
Speaker 1: reporting earnings, well, this is such a make or break week, Nathan,

544
00:29:51,800 --> 00:29:54,640
Speaker 1: because it's tech earnings and it comes down to the

545
00:29:54,720 --> 00:29:56,360
Speaker 1: waitings essentially. I mean, if you look at some of

546
00:29:56,400 --> 00:29:59,000
Speaker 1: the pre market movers this morning, your biggest decliners in

547
00:29:59,000 --> 00:30:01,280
Speaker 1: the S and P five, they're not your tech names,

548
00:30:01,280 --> 00:30:02,640
Speaker 1: which is what you would think on to trying to

549
00:30:02,640 --> 00:30:05,400
Speaker 1: sell off. They're actually your commodity names, which is really

550
00:30:05,440 --> 00:30:07,960
Speaker 1: a direct result of this idea that if Beijing goes

551
00:30:08,040 --> 00:30:11,120
Speaker 1: under lockdown, which is perhaps the fear here, a lockdown

552
00:30:11,160 --> 00:30:14,600
Speaker 1: similar to the likes of Shanghai a capital imagine Washington,

553
00:30:14,680 --> 00:30:17,800
Speaker 1: d C. The entire city going under lyingdown. That would

554
00:30:17,920 --> 00:30:19,560
Speaker 1: as kind of scale that they're talking about in a

555
00:30:19,640 --> 00:30:22,520
Speaker 1: much more populated region, I should say. So that's really

556
00:30:22,760 --> 00:30:25,959
Speaker 1: the concern here. Names like Freeport mcmaran fc X as

557
00:30:25,960 --> 00:30:28,040
Speaker 1: you're taking down four point four percent in just the

558
00:30:28,040 --> 00:30:30,920
Speaker 1: pre market trading oil names as well, Occidental o x

559
00:30:31,080 --> 00:30:33,200
Speaker 1: Y down three point seven percent, and then of course

560
00:30:33,200 --> 00:30:35,600
Speaker 1: you have likes of Devon Energy TV and UP down

561
00:30:35,760 --> 00:30:37,520
Speaker 1: three point six percent, and of course some of those

562
00:30:37,640 --> 00:30:40,000
Speaker 1: tech names following and really dragging the rest of the

563
00:30:40,000 --> 00:30:42,200
Speaker 1: market down with it, all right, Bloomberg Radio on TV

564
00:30:42,280 --> 00:30:45,000
Speaker 1: Markets correspondent Creedy Gupta, We know the market will be

565
00:30:45,040 --> 00:30:47,960
Speaker 1: open no matter what happens later on this morning, and

566
00:30:48,000 --> 00:30:49,560
Speaker 1: as we take a look at stocks as a whole

567
00:30:49,560 --> 00:30:52,800
Speaker 1: ahead of that, as we say, they are moving lower,

568
00:30:52,840 --> 00:30:55,640
Speaker 1: with SMP futures now down forty points, South futures down

569
00:30:55,680 --> 00:30:58,960
Speaker 1: three seven, Nasdaq futures on the decline by a hundred

570
00:30:59,080 --> 00:31:02,920
Speaker 1: nineteen points. Ten year Treasury is up twenty two thirty seconds,

571
00:31:03,320 --> 00:31:05,760
Speaker 1: the yield two point eight one and the yield on

572
00:31:05,800 --> 00:31:08,920
Speaker 1: the two year right now two point five nine percent.

573
00:31:09,360 --> 00:31:13,440
Speaker 1: More on the cabinet visit to Kiev and Elizabeth Warren's

574
00:31:13,520 --> 00:31:17,720
Speaker 1: warning to Democrats. Emily Wilkins Bloomberg Government joins us next

575
00:31:17,720 --> 00:31:23,720
Speaker 1: from Washington. This is Bloomberg Bloomberg eleven three oh Weather

576
00:31:23,800 --> 00:31:26,400
Speaker 1: partly sunny, low sixties today. We could see a few

577
00:31:26,400 --> 00:31:29,600
Speaker 1: showers tomorrow at the high near sixty five, upper fifties

578
00:31:29,640 --> 00:31:32,440
Speaker 1: to your sixty Wednesday, as we turned partly sunny right

579
00:31:32,440 --> 00:31:39,920
Speaker 1: now in Central Park, Markets, headlines and breaking news twenty

580
00:31:39,920 --> 00:31:42,760
Speaker 1: four hours a day at Bloomberg dot Com. The Bloomberg

581
00:31:42,800 --> 00:31:46,840
Speaker 1: Business at Hand at Bloomberg Quicktape. He's a Bloomberg Business

582
00:31:46,880 --> 00:31:56,080
Speaker 1: Flash and I'm Karen Moscow and US DOT index futures

583
00:31:56,120 --> 00:31:58,120
Speaker 1: are falling this morning. We had the first word of

584
00:31:58,120 --> 00:32:01,240
Speaker 1: Breaking News desk for today's morning call. Here's Bill Maloney. Bill,

585
00:32:01,280 --> 00:32:04,760
Speaker 1: good morning and good morning, Karen. That's right. US futures

586
00:32:04,840 --> 00:32:08,120
Speaker 1: are under pressure after Friday's plunge. Without futures down three

587
00:32:08,200 --> 00:32:11,000
Speaker 1: undred points, says to be dropped thirty nine, while NASZAC

588
00:32:11,040 --> 00:32:13,720
Speaker 1: futures are down by a hundred and ten. The US

589
00:32:13,920 --> 00:32:16,320
Speaker 1: ten year that two point eight two percent, Gold is

590
00:32:16,360 --> 00:32:19,520
Speaker 1: down sixteen. Oil is also falling, and bitcoin is down

591
00:32:19,520 --> 00:32:23,000
Speaker 1: by two point six percent. Shanghai dropped five point one

592
00:32:23,000 --> 00:32:25,440
Speaker 1: percent overnight, while up and markets are also in the red,

593
00:32:25,680 --> 00:32:28,360
Speaker 1: led by two percent losses in the UK and France

594
00:32:28,720 --> 00:32:31,560
Speaker 1: back in the US. On the economic Frinday thirty, Chicago

595
00:32:31,720 --> 00:32:35,720
Speaker 1: fed Indian News. Twitter is growing more open towards Musk's

596
00:32:35,840 --> 00:32:39,040
Speaker 1: takeover offer and regarding earnings. This morning, look for Coca

597
00:32:39,120 --> 00:32:42,400
Speaker 1: Cola's report in the pre market. Rapid things up. Newmont

598
00:32:42,480 --> 00:32:45,320
Speaker 1: was cut to market perform at Bernstein. Verizon was cut

599
00:32:45,320 --> 00:32:48,680
Speaker 1: to neutral over at Goldman Sachs live from the first

600
00:32:48,720 --> 00:32:51,120
Speaker 1: to Breaking News desk on Bill Maloney Cara Verry, Bill,

601
00:32:51,160 --> 00:32:53,280
Speaker 1: thank you to hear live breaking news over her. Bloomberg

602
00:32:53,360 --> 00:32:55,760
Speaker 1: types walk on your terminal, I'll scu you a w

603
00:32:55,880 --> 00:32:58,040
Speaker 1: u K and that's a Bloomberg business flaction. Now here's

604
00:32:58,040 --> 00:33:00,600
Speaker 1: Michael bar with more on what's going on in the world.

605
00:33:00,720 --> 00:33:04,280
Speaker 1: Michael Karen, thank you very much. After a secrecy shrouded

606
00:33:04,400 --> 00:33:07,760
Speaker 1: visit to Kiev, US Secretary of State Anthony Blincoln said

607
00:33:07,840 --> 00:33:11,680
Speaker 1: Russia is failing in its war and aims to have

608
00:33:12,040 --> 00:33:16,240
Speaker 1: Ukraine succeeding. The trip by Blincoln and Defense Secretary Lloyd

609
00:33:16,280 --> 00:33:19,640
Speaker 1: Austin was the highest level American visit to the Capitol

610
00:33:19,680 --> 00:33:23,320
Speaker 1: since Russia invaded in late February. Crews are fighting a

611
00:33:23,360 --> 00:33:27,880
Speaker 1: fast moving wild fire in New Mexico. Firefighters in Colfax

612
00:33:27,920 --> 00:33:31,400
Speaker 1: County near Las Vegas are battling the Cook's Peak Fire.

613
00:33:31,880 --> 00:33:34,680
Speaker 1: The flames have expanded to more than forty eight thousand acres.

614
00:33:35,080 --> 00:33:37,880
Speaker 1: In MLB, the Yankees and Mets won the Red Sox

615
00:33:37,920 --> 00:33:41,600
Speaker 1: Scenariols lost. The Giants beat the Nationals twelve three. The

616
00:33:41,760 --> 00:33:44,880
Speaker 1: A's one in the NBA playoffs. It's do or die

617
00:33:44,960 --> 00:33:48,000
Speaker 1: tonight for the Nets, they have to beat the Celtics

618
00:33:48,000 --> 00:33:50,640
Speaker 1: and game four of their series to avoid being eliminated.

619
00:33:50,960 --> 00:33:54,200
Speaker 1: The Warriors lost. For the Nuggets, Golden State still has

620
00:33:54,200 --> 00:33:56,440
Speaker 1: the three games to one lead in that series. Global

621
00:33:56,480 --> 00:33:58,920
Speaker 1: News twenty four hours a day on air and on

622
00:33:59,040 --> 00:34:02,200
Speaker 1: Bloomberg Quick Day, powered by more than twenty seven hundred

623
00:34:02,240 --> 00:34:06,440
Speaker 1: journalists nantolists more than twenty countries. Michael bar this is Bloomberg.

624
00:34:07,040 --> 00:34:11,680
Speaker 1: The following commentary is from Bloomberg Opinion. America may have

625
00:34:11,760 --> 00:34:15,680
Speaker 1: eaten its fill of take out chicken wings. I'm justin Fox,

626
00:34:15,880 --> 00:34:19,319
Speaker 1: a columnist for Bloomberg Opinion. When Americans were confronted with

627
00:34:19,360 --> 00:34:22,160
Speaker 1: the worst pandemic and more than a century, they reacted

628
00:34:22,200 --> 00:34:24,960
Speaker 1: in some surprising ways. One of them was to order

629
00:34:25,000 --> 00:34:28,080
Speaker 1: lots of chicken wings. Same store sales at restaurant chain

630
00:34:28,160 --> 00:34:31,200
Speaker 1: wing Stop rose thirty two percent in the second quarter

631
00:34:31,239 --> 00:34:35,040
Speaker 1: of as other fast food brands and new style ghost

632
00:34:35,120 --> 00:34:38,040
Speaker 1: kitchens got in on in the wings action. Wholesale chicken

633
00:34:38,040 --> 00:34:41,080
Speaker 1: wing price is more than doubled in twelve months. Wings

634
00:34:41,080 --> 00:34:43,719
Speaker 1: are easy to prepare and stand up well to delivery,

635
00:34:43,840 --> 00:34:46,520
Speaker 1: making them a great choice for idle restaurant kitchens and

636
00:34:46,600 --> 00:34:50,399
Speaker 1: hungry consumers during lockdowns. Now that things have returned kind

637
00:34:50,440 --> 00:34:53,560
Speaker 1: of sort of to normal, wholesale wing prices and wing

638
00:34:53,680 --> 00:34:57,960
Speaker 1: stops stock are down. Both are still higher than before

639
00:34:58,000 --> 00:35:01,600
Speaker 1: the pandemic. Wings aren't over, just taking a break. I'm

640
00:35:01,640 --> 00:35:05,120
Speaker 1: justin Fox. For more opinion, please go to Bloomberg dot com,

641
00:35:05,200 --> 00:35:07,640
Speaker 1: Slash Opinion or O P I n go on the

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00:35:07,640 --> 00:35:12,120
Speaker 1: Bloomberg terminal. This has been Bloomberg Opinion and Bloomberg Opinion

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Speaker 1: commentaries can be heard every weekday at this time at terminal.

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Speaker 1: Customers can read more at O P I n go.

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Speaker 1: It is six fifty on Wall Street. Returned to news

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00:35:20,760 --> 00:35:23,360
Speaker 1: and science and technology now with a Bloomberg and j

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00:35:23,520 --> 00:35:26,320
Speaker 1: I T. Stam report brought to you Buy New Jersey

648
00:35:26,360 --> 00:35:29,360
Speaker 1: Institute of Technology and j I T offers New Jersey's

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Speaker 1: first undergraduate degree in fintech. Take driven to Finance Focus.

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Speaker 1: Learn more at n j I T dot E d

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Speaker 1: U Slash Fintech and now Here's its making News and science, Technology,

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00:35:39,080 --> 00:35:43,160
Speaker 1: engineering and math. And China, the coronavirus outbreak has gone worse.

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00:35:43,360 --> 00:35:46,040
Speaker 1: A rising number of cases in Beijing is sparked jitterous

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00:35:46,040 --> 00:35:49,799
Speaker 1: about an unprecedented lockdown to the capitol. Policymakers are trying

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00:35:49,800 --> 00:35:52,840
Speaker 1: to avert at Shanghai style crisis that has already reached

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00:35:52,880 --> 00:35:56,600
Speaker 1: havoc on that city. There's another risk of global food inflation.

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00:35:56,680 --> 00:35:59,840
Speaker 1: The top producer of palm oil Indonesia says it'll banas

658
00:36:00,000 --> 00:36:03,279
Speaker 1: words until the government is certain a domestic shortage is resolved.

659
00:36:03,560 --> 00:36:06,440
Speaker 1: Palm Oil is used in packaged foods and as cooking oil.

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00:36:06,680 --> 00:36:09,200
Speaker 1: It's also used in non food items such as detergents

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00:36:09,200 --> 00:36:13,080
Speaker 1: and cosmetics. And Netflix earnings disappointment is still rippling through

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00:36:13,120 --> 00:36:15,720
Speaker 1: the markets, and AZDAC A hundred index or one hundred

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00:36:15,719 --> 00:36:18,280
Speaker 1: index has ere raised about one trillion dollars in market

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00:36:18,360 --> 00:36:21,480
Speaker 1: values since the streaming company's report. The stock is the

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00:36:21,480 --> 00:36:24,120
Speaker 1: worst performer in the SNP five hundred this year, down

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00:36:24,160 --> 00:36:27,520
Speaker 1: sixty percent. On the bright side, Netflix has surged about

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00:36:27,680 --> 00:36:31,680
Speaker 1: twenty thousand percent since going public in two thousand two.

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00:36:31,920 --> 00:36:34,800
Speaker 1: And as the Bloomberg n j I t Stem report Nathan,

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Speaker 1: all right, Karen, thank you. We are live from the

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Speaker 1: Bloomberg Interactive Brokers studios, where it's coming up to six

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00:36:39,200 --> 00:36:41,480
Speaker 1: fifty two on Wall Street time Now to check what's

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00:36:41,520 --> 00:36:43,320
Speaker 1: going on in d C Some of the top stories

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00:36:43,320 --> 00:36:46,200
Speaker 1: in our nation's capital include Secretary of State Anthony Lincoln

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00:36:46,239 --> 00:36:49,080
Speaker 1: and Defense Secretary Lloyd Austin promising more weapons and the

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00:36:49,080 --> 00:36:52,719
Speaker 1: return of diplomats in a visit to Kiev, Ukrainian Prime

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00:36:52,719 --> 00:36:55,759
Speaker 1: Minister Dennis schmil tells CBS S face the Nation. The

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00:36:55,880 --> 00:36:59,000
Speaker 1: visit with President Vladimir's Lensky is as important for the

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00:36:59,080 --> 00:37:02,560
Speaker 1: US as it is for Ukraine to see by their

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00:37:02,640 --> 00:37:08,240
Speaker 1: own eyes what's happened, which atrocities and war crimes Russian

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00:37:08,400 --> 00:37:13,040
Speaker 1: Army and Russian Federation made in Ukraine. U N Secretary

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00:37:13,120 --> 00:37:17,080
Speaker 1: General Antonio Guterres plans to meet with Russian President Vladimir

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00:37:17,120 --> 00:37:20,560
Speaker 1: Putin in Moscow tomorrow. Ukrainian Deputy Chief of Staff e

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00:37:20,719 --> 00:37:23,360
Speaker 1: Or Jovka tells NBCs meet the press. That's not a

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00:37:23,360 --> 00:37:28,399
Speaker 1: good idea and the result. I really doubt if those

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00:37:28,480 --> 00:37:32,399
Speaker 1: fee stalks organized by Secretary General will the UN will

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00:37:32,520 --> 00:37:35,600
Speaker 1: end up with any results. Also making news, Democratic Senator

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00:37:35,640 --> 00:37:38,680
Speaker 1: Elizabeth Warren warning her party is in trouble going into

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00:37:38,680 --> 00:37:42,239
Speaker 1: the mid terms unless it does more about inflation. Democrats

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00:37:42,400 --> 00:37:45,919
Speaker 1: ran and always run on trying to make government work

690
00:37:46,040 --> 00:37:49,920
Speaker 1: for working people. We've got nearly two hundred days left.

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00:37:50,320 --> 00:37:53,520
Speaker 1: That's what we need to put our energy off. Senator

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00:37:53,520 --> 00:37:55,719
Speaker 1: Warren spoke there on Meet the Press, which you can

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00:37:55,760 --> 00:37:58,799
Speaker 1: hear every Sunday on Bloomberg Radio along with Face the Nation.

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00:37:59,040 --> 00:38:01,880
Speaker 1: Let's get more now from Bloomberg Government reporter Emily Wilkins

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00:38:01,880 --> 00:38:06,320
Speaker 1: starting off with the visit of Secretaries Blincoln and Austin

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00:38:06,440 --> 00:38:10,560
Speaker 1: to Kiev. Emily, this was much more than just about symbolism.

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00:38:10,560 --> 00:38:14,320
Speaker 1: There was news made in Kiev. Yes, Um, the US

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00:38:14,440 --> 00:38:19,279
Speaker 1: has pledged more than seventy seven hundred million dollars in

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00:38:19,320 --> 00:38:23,600
Speaker 1: continued aid to Ukraine, and that came with this visit

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00:38:23,680 --> 00:38:28,120
Speaker 1: by Secretary Blincoln and Secretary Austin. And they're saying also

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00:38:28,239 --> 00:38:31,520
Speaker 1: that starting next week other U s supplements are diplomats

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00:38:31,560 --> 00:38:33,879
Speaker 1: are going to be able to return to Ukraine as well,

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00:38:34,200 --> 00:38:36,920
Speaker 1: and that the embassy is going to open soon after.

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00:38:37,080 --> 00:38:39,600
Speaker 1: So really showing that the US is now at the

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00:38:39,600 --> 00:38:43,000
Speaker 1: point where they are starting to really come back to Ukraine. Uh.

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00:38:43,040 --> 00:38:46,080
Speaker 1: This is going on even as there is a continued

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00:38:46,120 --> 00:38:49,880
Speaker 1: battle UH in Maryouple over the steel plant, and while

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00:38:50,000 --> 00:38:53,640
Speaker 1: Russian forces are really concentrating on the eastern part of

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00:38:53,680 --> 00:38:56,560
Speaker 1: the country. UM. At the same point, there's a sense

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00:38:56,640 --> 00:38:59,640
Speaker 1: that that Kiev is slightly safer than that I guess

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00:38:59,640 --> 00:39:01,440
Speaker 1: it has been in the past, or there's simply an

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00:39:01,440 --> 00:39:05,200
Speaker 1: ability now for the US to be there after it

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00:39:05,239 --> 00:39:08,560
Speaker 1: initially evacuated all of diplomats several months ago. Now I

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00:39:08,600 --> 00:39:12,000
Speaker 1: know Congress is heading back from its recess back to

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00:39:12,120 --> 00:39:15,759
Speaker 1: Capitol Hill. When do we expect debate to resume on

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00:39:15,880 --> 00:39:19,799
Speaker 1: even further aid to Ukraine? So we know that there's

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00:39:19,840 --> 00:39:23,239
Speaker 1: going to be legislation this week that's going to make

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00:39:23,400 --> 00:39:25,280
Speaker 1: that's going to go through the House. It's already passed

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00:39:25,320 --> 00:39:27,440
Speaker 1: the Senate, and basically it's just going to make it

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00:39:27,480 --> 00:39:32,000
Speaker 1: easier for President Biden to send defense systems over to Ukraine.

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00:39:32,080 --> 00:39:34,680
Speaker 1: It's going to take down some of the waivers and

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00:39:34,680 --> 00:39:37,520
Speaker 1: what not that would need to be done initially. We're

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00:39:37,560 --> 00:39:40,920
Speaker 1: also expecting an additional funding request from the White House

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00:39:40,960 --> 00:39:44,359
Speaker 1: to Congress. We don't know exactly how much that's going

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00:39:44,400 --> 00:39:47,160
Speaker 1: to be. Congress still hasn't gotten that request from the

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00:39:47,160 --> 00:39:50,160
Speaker 1: White House, but leaders in Congress say that once they

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00:39:50,160 --> 00:39:52,640
Speaker 1: get that request, they're going to be moving very quickly

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00:39:52,680 --> 00:39:55,200
Speaker 1: on it. Uh, it could be as soon as this week.

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00:39:55,360 --> 00:39:57,839
Speaker 1: Might might need to wait for a little bit um,

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00:39:57,920 --> 00:39:59,880
Speaker 1: just kind on when when the White House gets the

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00:40:00,000 --> 00:40:03,040
Speaker 1: requests there, but it's something there's a lot of bipartisan

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00:40:03,080 --> 00:40:05,879
Speaker 1: support on. I think the big question though, is if

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00:40:06,000 --> 00:40:09,520
Speaker 1: a bill like that is introduced, will lawmakers try to

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00:40:09,520 --> 00:40:13,480
Speaker 1: add other items to it. I'm thinking perhaps in regards

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00:40:13,480 --> 00:40:16,400
Speaker 1: with immigration, that Title forty two that's about to be

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00:40:16,520 --> 00:40:20,239
Speaker 1: lifted that would end certain restrictions on migrants crossing at

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00:40:20,239 --> 00:40:23,719
Speaker 1: the southern border. Yeah, it's interesting you mentioned that potentially

738
00:40:23,719 --> 00:40:27,600
Speaker 1: coming into play because as Congress returns, we're going to

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00:40:27,640 --> 00:40:31,799
Speaker 1: have the return of politics and the battle for the

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00:40:31,840 --> 00:40:35,480
Speaker 1: mid terms, and we certainly heard from Senator Warren sort

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00:40:35,480 --> 00:40:39,200
Speaker 1: of laying down the stakes for what could be coming

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00:40:39,200 --> 00:40:42,560
Speaker 1: for Democrats. Yeah. Warren tolds that over the weekend that

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00:40:42,600 --> 00:40:45,400
Speaker 1: our party could be in real trouble if the party

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00:40:45,440 --> 00:40:48,719
Speaker 1: doesn't do more to address high inflation. And one of

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00:40:48,719 --> 00:40:51,360
Speaker 1: the things that Warren is suggesting doing at this point

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00:40:51,680 --> 00:40:55,120
Speaker 1: is really going after large, large companies, which she says

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00:40:55,160 --> 00:40:59,080
Speaker 1: have been price gouging aid because of inflation, they felt

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00:40:59,120 --> 00:41:01,680
Speaker 1: like they can go ahead continue to raise their prices.

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00:41:02,000 --> 00:41:05,600
Speaker 1: She called on the Federal Trade Commission to investigate and

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00:41:05,680 --> 00:41:08,719
Speaker 1: to prosecute and Nathan this is something we've already seen

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00:41:08,760 --> 00:41:11,719
Speaker 1: the Congress begin on. We've seen hearings about whether or

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00:41:11,760 --> 00:41:14,640
Speaker 1: not companies are raising their prices more than they need

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00:41:14,640 --> 00:41:17,040
Speaker 1: to be at this point in time. Um, and if

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00:41:17,040 --> 00:41:19,760
Speaker 1: there are things going on that that really these companies

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00:41:19,760 --> 00:41:22,680
Speaker 1: can be held accountable. Forum. On the other point, there

756
00:41:22,680 --> 00:41:26,440
Speaker 1: really are you know, trade backups. UM, there's definitely deals

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00:41:26,480 --> 00:41:29,720
Speaker 1: still an impact from the pandemic at a global level,

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00:41:30,080 --> 00:41:33,040
Speaker 1: and so there are supply chain issues that are impacting

759
00:41:33,120 --> 00:41:35,640
Speaker 1: inflation that that really are going to be difficult for

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00:41:35,680 --> 00:41:38,600
Speaker 1: Democrats to try and control in any way, shape or form.

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00:41:38,840 --> 00:41:41,719
Speaker 1: Now just a few months until that midterm election. Bloomberg

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00:41:41,760 --> 00:41:45,560
Speaker 1: Government reporter Emily Wilkins joining us this morning from Washington,

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00:41:45,640 --> 00:41:47,800
Speaker 1: d C. And you can read more about these stories

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00:41:47,800 --> 00:41:50,640
Speaker 1: on Bloomberg dot com or on the Bloomberg terminal. Listen

765
00:41:50,680 --> 00:41:54,719
Speaker 1: to Bloomberg Radio in Washington at Bloomberg and one oh

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00:41:54,719 --> 00:41:58,359
Speaker 1: five point seven FM h D two. Karen, Herry, Nathan,

767
00:41:58,360 --> 00:42:01,319
Speaker 1: thank you for watching. Coca Cola earnings crossing the Bloomberg

768
00:42:01,480 --> 00:42:06,320
Speaker 1: so first quarter comparable UH profit coming in beating analysts

769
00:42:06,400 --> 00:42:09,880
Speaker 1: estimate sixty four cents a share and also organic revenue

770
00:42:09,880 --> 00:42:13,640
Speaker 1: in the quarter up eighteen percent. Analysts were looking for

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00:42:13,800 --> 00:42:15,520
Speaker 1: a rise of nine and a half percent, so that

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00:42:15,600 --> 00:42:18,520
Speaker 1: easily beat as well. And also they talked about the

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00:42:18,600 --> 00:42:22,000
Speaker 1: Russia impact here with that situation, it's estimated to be

774
00:42:22,160 --> 00:42:25,960
Speaker 1: one percent to unit case volume. Now, I've been watching

775
00:42:26,000 --> 00:42:29,120
Speaker 1: shares in the early trade. Uh they were weighed down

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00:42:29,360 --> 00:42:33,320
Speaker 1: right after those earnings crossed, but then they they trimmed

777
00:42:33,440 --> 00:42:35,799
Speaker 1: some of those losses and in the early trade they

778
00:42:35,800 --> 00:42:38,640
Speaker 1: were down about four tens of a percent at last check.

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00:42:38,960 --> 00:42:43,120
Speaker 1: Futures this morning are also moving lower, and Bloomberg Surveillance

780
00:42:43,239 --> 00:42:46,359
Speaker 1: is straight ahead for Nathan Hagar. I'm Karen Moscow and

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00:42:46,520 --> 00:42:47,759
Speaker 1: this is Bloomberg