Speaker 1: My from the Bloomberg Interactive Burker Studios is Bloomberg day
Speaker 1: Break for Monday, April two. Coming up this hour, Secretary
Speaker 1: of State Lincoln and Defense Secretary Austin meet with Ukrainian
Speaker 1: President vladimir's Olinsky and Keen Emmanuel mccron wins another term
Speaker 1: as French president. Stocks in China plunge on COVID concerns,
Speaker 1: and Twitter grows more receptive towards Elon Musk's takeover offer.
Speaker 1: The New York City firefighter has not in the line
Speaker 1: of duty. Plus, the Supreme Court is set to hear
Speaker 1: arguments involving the separation of church and state. I'm Michael
Speaker 1: block More. I'm John Stage. Sports the Mets and Yankees
Speaker 1: both one NBA playoff wins from Milwaukee, Miami, Denver, and
Speaker 1: New Orleans. That's all s training ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg eleven three, on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one O six one, Boston, Bloomberg nine
Speaker 1: sixties and Francisco Syrius Exam one nine team and around
Speaker 1: the world on Bloomberg Radio dot Com and via The
Speaker 1: Bloomberg Business. Good Morning, I'm Nathan Hagart and I'm Karen Moscow,
Speaker 1: u S stock Index futures are lower this morning. We're
Speaker 1: coming up to six o one on Wall Street, and
Speaker 1: we checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg, SNP Future is down thirty six points and
Speaker 1: down futures down two hundred seventy one ANNOUNCEDACK Future is
Speaker 1: down ninety two. Ten year treasury up eighteen thirty seconds,
Speaker 1: l two point eight two percent. Have they yield on
Speaker 1: the two year two point six zero percent, Nathan, Karen.
Speaker 1: We'll get back to markets in just a minute. But first,
Speaker 1: a significant diplomatic development in the war in Ukraine. Secretary
Speaker 1: of State Anthony Blincoln and Defense Secretary Lloyd Austin have
Speaker 1: met with President Vladimir z Lensky in Kiev. They announced
Speaker 1: a hundred sixty five million dollars in ammunition sales and
Speaker 1: said US diplomats will return to Ukraine as soon as
Speaker 1: this week. Secretary b Lincoln says Ukraine will prevail on
Speaker 1: the battlefield. Russia has already failed and Ukraine has already
Speaker 1: succeeded because the principal a that president who brought to
Speaker 1: this in his own words, was to fully subsume Ukraine
Speaker 1: back into Russia to take away its sovereignty and independence,
Speaker 1: and that has not happened, and fairly will not have.
Speaker 1: Secretary of State B. Lincoln was joined by Defense Secretary
Speaker 1: Lloyd Austin, who says the US wants to ensure Russia
Speaker 1: remains weakened. It has already lost a lot of military
Speaker 1: capability and a lot of a lot of its troops
Speaker 1: quite brightly, and we want to see them not have
Speaker 1: the capability to very quickly reproduce that capability. Secretaries Austin
Speaker 1: and b. Lincoln are the highest ranking US officials to
Speaker 1: visit Ukraine since Russia's invasion began. And Francis Morning Nathan
Speaker 1: Politics Front and Center. Emmanuel mccrown has won a second
Speaker 1: term as president and we get more from Bloomberg's Francis Laqua.
Speaker 1: In Paris, Emmanuel mccollon defeated far right leader mahind Theban
Speaker 1: on a pro business, pro European platform. He's the first
Speaker 1: sitting president to get a second term in twenty years.
Speaker 1: McCoy is on course to win about fifty eight percent
Speaker 1: of the vote compared with for been, a narrower victory
Speaker 1: than the previous contest in tween. The outcome is good
Speaker 1: news for investors who had predicted that a Loupen victory
Speaker 1: would deliver shock to markets on the scale of the
Speaker 1: UK's vote to leave the EU or the election of
Speaker 1: Donald Trump in the US. But the rise and support
Speaker 1: from behind Lupins and nationalist program also reflects a bitterly
Speaker 1: divided country. Speaking to supporters in front of the Eiffel
Speaker 1: Tower in Paris, Makon thanked French voters for trusting him
Speaker 1: after five years of hard times. He acknowledged many people
Speaker 1: voted for him only to block the far right and
Speaker 1: vowed to be president of all in Paris. I'm from
Speaker 1: s Laqua. Bloomberg Daybreak, Francine Thanks. In Asia, overnight stocks
Speaker 1: and China plunged almost five percent or worsening COVID outbreak
Speaker 1: is fueling fears of a bigger slowdown in the world's
Speaker 1: second largest economy. And we get more from Bloomberg Daybreak
Speaker 1: Asia anchor Bryan Curtis. Authorities have lockdown some parts of
Speaker 1: the capitol. Policymakers are racing to prevent a repeat of
Speaker 1: the Shanghai outbreak that has hobbled the city for weeks.
Speaker 1: Shangha reported record daily deaths over the weekend that the
Speaker 1: lockdowns could hurt growth. Oil and iron ore tumbled in
Speaker 1: Monday morning trading. Brian Curtis, Bloomberg Daybreak. All right, Brian,
Speaker 1: thank you all Back here in the US. We're focusing
Speaker 1: on Twitter. The social media company is growing more receptive
Speaker 1: to Elon musk forty three billion dollar takeover offer, and
Speaker 1: we get the latest live from Bloomberg's Rnita Young. Good morning, Rinda,
Speaker 1: Good morning, Karen. Bloomberg. Sources say Elon Musk met with
Speaker 1: Twitter executives on Sunday to discuss his offer. Twitter's board
Speaker 1: initially countered Musk's proposal with a poison pill, which would
Speaker 1: make it more expensive for any investor, including Musk, to
Speaker 1: acquire stock beyond a fiftent steak. Musk currently owns about
Speaker 1: nine percent of Twitter, but The Wall Street Journal reports
Speaker 1: Musk says he will not adjust his fifty four dollars
Speaker 1: and twenty cents a share offer for Twitter that's above
Speaker 1: Friday's closing price. The journal also reports a deal could
Speaker 1: be finalized as soon as this week. Live in New York.
Speaker 1: I'm Rnita Young, Bloomberg Daybreak. We need to thanks. Corporate
Speaker 1: earning are also in focus, with more than a third
Speaker 1: of the companies in the SMP five hundred reporting. This week,
Speaker 1: we get a preview from Bloomberg's Charlie Pellot, Apple, Amazon,
Speaker 1: and other technology giants report results, as do major industrial, healthcare,
Speaker 1: and consumer goods companies. Sarah Malick is chief investment officer
Speaker 1: at nouven. Who we're watching for for earnings are with
Speaker 1: the demand outlook, pricing, power, supply chain issues. So going forward,
Speaker 1: we're so bullish that earnings will continue to drive this
Speaker 1: market higher. This week we hear from Alphabet, Microsoft, Intel,
Speaker 1: and Texas Instruments among tech names. Also this week, three
Speaker 1: M Boeing, g E, G, m Ford, Caterpillar, Exonmobile, and
Speaker 1: Visa in New York. Charlie Pellet Bloomberg day break. All right, Charlie,
Speaker 1: thank you. Another impact on earnings employee pay. According to
Speaker 1: a survey by the National Association for Business Economics, wages
Speaker 1: increased at a record seventy of US companies in the
Speaker 1: first quarter. About half of the firm's survey are still
Speaker 1: reporting shortages of skilled labor. Turning to politics now, Karen
Speaker 1: a warning to fellow Democrats from Senator Elizabeth Warren. She
Speaker 1: says her party could be in real trouble in this
Speaker 1: year's elections if it doesn't do more about inflation. I
Speaker 1: think we're going to be in real trouble if we
Speaker 1: don't get up and deliver. Then I believe that Democrats
Speaker 1: are going to lose Democrats when when they do what
Speaker 1: when they work on behalf of working people. Senator Elizabeth
Speaker 1: Warren tells CNN Democrats must push through legislation to tamp
Speaker 1: down soaring prices. Oh they think. Christine mcguard is also
Speaker 1: speaking out about inflation. The ECB president says both the
Speaker 1: US and Europe are struggling to contain prices, but the
Speaker 1: challenges are different. Right now, half of Europe's inflation stems
Speaker 1: from surging energy costs. I believe that we share the
Speaker 1: same result, which is to tame inflation, which is to
Speaker 1: use all the tools that we have to do so,
Speaker 1: but we're facing the different beast. ECB President Christine Leguard
Speaker 1: tells CBS is face the nation that if she raised
Speaker 1: interest rates today, it would not bring down energy prices.
Speaker 1: You can catch Face the Nation every Sunday on Bloomberg
Speaker 1: Radio looking at energy prices right now Karen dim Ex
Speaker 1: screws down four point four percent or four dollars forty
Speaker 1: two cents at ninety cents in barrel. Futures are moving
Speaker 1: lower as well. Straight ahead your latest local headlines, plus
Speaker 1: a check of sports. This is Bloomberg. It sounds six
Speaker 1: oh seven on Wall Street. Were at forty seven degrees
Speaker 1: in Central Park. Still dealing with an accident investigation on
Speaker 1: the Garden State Parkway past X at one sixteen. Details
Speaker 1: coming up in traffic. First, Michael Bars here with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Officials say a New
Speaker 1: York City firefighter and a civilia have died in a
Speaker 1: Brooklyn house fire where a ceiling partially collapsed. Acting Fire
Speaker 1: Department of New York Commissioner Laura kavanas at thirty one
Speaker 1: year old firefighter Timothy Klein was a six year veteran
Speaker 1: of the department. The incident commander identified deteriorating conditions and
Speaker 1: ordered all members out of the building. As they were
Speaker 1: doing so, there was a partial collapse of the ceiling.
Speaker 1: Four members were caught in that collapse. Commissioner kavana says
Speaker 1: eight other firefighters were also injured and another resident sustained
Speaker 1: minor injuries. Mayor Eric Adams more inclines death, saying the
Speaker 1: city had lost one of his bravest. Meanwhile, Mayor Adams
Speaker 1: also talked about crime in the city. We removed eighteen
Speaker 1: hundred guns off the streets about city since I've been
Speaker 1: elected eighteen hundred and so we're put in place the
Speaker 1: foundation of dealing with the immediate needs of violence. But
Speaker 1: we also stopped in the pipeline that caused his children
Speaker 1: to get involved in violence. Mayor Adams made his comments
Speaker 1: on CDs IS sixty Minutes, which aired last night. As
Speaker 1: COVID cases rise in New York City, The new Commissioner
Speaker 1: of Health in New York City, doctor Ashwin Vessan, is
Speaker 1: disappointed in learning that some city teachers got fake vaccination
Speaker 1: cards to keep their jobs. It really undermines trust. It
Speaker 1: undermines trust in one another, It undermined trust in public
Speaker 1: health and undermines trust in government. Dr Pissan also says
Speaker 1: he disagrees with the federal judges ruling to end the
Speaker 1: masked mandates for passengers on planes, trains, and buses. Jury
Speaker 1: selectioned against today and one of the highest profile US
Speaker 1: capital of riot trials. A former New York City cop
Speaker 1: is accused of assaulting Washington police on January six. Thomas
Speaker 1: Webster is charged with assaulting police at the Capitol. Webster
Speaker 1: is expected to argue self defense against an officer who
Speaker 1: was overstepping. The Supreme Court is set to hear arguments
Speaker 1: today in the case of a former high school football
Speaker 1: coach in Bremerton, Washington. Joseph Kennedy was fired by the
Speaker 1: public school district after refusing to stop praying on the
Speaker 1: field after games. Kennedy says his First Amendment rights were violated.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than hundred journalist and
Speaker 1: analyst more than a hundred twenty countries. Michael Barr, This
Speaker 1: is Bloomberg, Nathan. Thanks Michael six o nine on Wall
Speaker 1: Street time for the Bloomberg Sports Update with John Steinshauer.
Speaker 1: All right, Nathans, some early season struggles, and yet here
Speaker 1: are the Yankees right now, tied for the best record
Speaker 1: in America. Lead they used to have their most lopsided
Speaker 1: win of the year and their first series sweet Feet
Speaker 1: the Guardians at the Stadium tended to Anthony Rizzo got
Speaker 1: him going to run homer first inning and Yanks were
Speaker 1: up six nothing by the third. Plenty of run support
Speaker 1: for Garrett Cole got his first win. Get a nice
Speaker 1: elevation from the craft. Obviously nice. Uh, it's just a
Speaker 1: nice day overall. Really well played game. Um, just to
Speaker 1: get finish to the serious suite Fount hard Um and
Speaker 1: really just put a cherry on top and played to
Speaker 1: play a complete three games. Fans and the bleachers behave
Speaker 1: themselves after what happened Saturday. Yanks are off tonight. The
Speaker 1: lost Baltimore. Tomorrow Mets with a six to win at Arizona.
Speaker 1: Tyler McGill improved the three and oh the Mets have
Speaker 1: now played five series and they've won all five. They're
Speaker 1: in St. Louis to night battle of National League to
Speaker 1: Visian Leaders final week. How the NHL regular season, Carolina
Speaker 1: just beat the Islanders five to two, and that puts
Speaker 1: the Hurricanes four points ahead of the Rangers of the
Speaker 1: two teams fight to win the division. The King's Face
Speaker 1: the Rangers at the Garden tomorrow night. At Barkley's Tonight,
Speaker 1: Nets and Celtics gave four with Boston going for the sweep.
Speaker 1: There was some hope that facing elimination, the Nets would
Speaker 1: have Ben Simmons in the line up for the first
Speaker 1: time ever, but sighting his sore backs, Simmons will not
Speaker 1: play to stay alive, and Nets clearly need a better
Speaker 1: game from Kevin Rant. He has been decisively outplayed in
Speaker 1: the series by the Celtics star Jason Fatum. Milwaukee and
Speaker 1: Miami easy wins on the road for three one. Series
Speaker 1: leads in the East and the West. Denver State alive
Speaker 1: still fills Golden State three one. New Orleans beat Phoenix.
Speaker 1: That series tied at two. John Stash went Bloomberg Sports.
Speaker 1: All right, John, thank you. Right now, SMP futures are
Speaker 1: down thirty eight points down, futures down two nastack futures
Speaker 1: are lower by a hundred six points. The ten your
Speaker 1: treasury is up seventeen thirty seconds. The yield two point
Speaker 1: three percent. Yield on the two year right now two
Speaker 1: point six zero per cent. You're listening to Bloomberg Daybreak,
Speaker 1: Bloomberg eleven three oh Weather partly sunny today with highs
Speaker 1: in the low sixties, mid sixties tomorrow, with a chance
Speaker 1: for a few showers. We'll be back in the upper
Speaker 1: fifties by Wednesday. Attorney partly sunny right now forty seven
Speaker 1: degrees in Central Park markets, Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, The Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. This is a
Speaker 1: Bloomberg Business lash and I'm Karen Moscow stocks and commodities
Speaker 1: are tumbling this morning as China's worsening COVID outbreak compounds
Speaker 1: fear sparked by faster federal reserve tightening. Bonds are rising.
Speaker 1: We checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg Guess and P Future is down thirty seven
Speaker 1: points down Future is down to D eighty one. NAS
Speaker 1: Day Futures down ninety eight. The decks in Germany is
Speaker 1: down one point seven per cent. Ten year treasury of
Speaker 1: seventeen thirty seconds yield two point eight three percent. That
Speaker 1: yield on the two year two points zero percent. Nine
Speaker 1: X Screwed oil is down four point one percent on
Speaker 1: four dollars twenty three cents at ninety seven dollars eighty
Speaker 1: four cents of barrel Collmic school is down nine ten
Speaker 1: percent or seventeen dollars ten cents in nineteen seventeen twenty
Speaker 1: announced the euro one point oh seven three five against
Speaker 1: the dollar British pound one point two seven to four
Speaker 1: the end at one eight point one nine bitcoin this
Speaker 1: morning lower down too and a half percent at thirty
Speaker 1: eight thousand, five hundred twenty dollars. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Ukrainian
Speaker 1: officials say the U S Secretaries of State and Defense
Speaker 1: have met with President Volodamir z Lensky in Kiev. The
Speaker 1: two American officials said the US would be providing more
Speaker 1: than seven hundred million dollars in new military assistance for Ukraine.
Speaker 1: French President Emmanuel mccrawl has secured another term in office,
Speaker 1: handily defeating his far right opponent Marine n The Chrome
Speaker 1: won the second term with roughly fifty eight percent of
Speaker 1: the vote. The pen got about forty two percent. In MLB,
Speaker 1: the Yankees and Mets one, the Red Sox and Orioles lost.
Speaker 1: The Giants beat the Nationals twelve three, the A's one
Speaker 1: in the NBA playoffs, It is due or die tonight
Speaker 1: for the Nets. They have to beat the Celtics in
Speaker 1: game for their series to avoid being eliminated. The Warriors
Speaker 1: lost to the Nuggets. Golden State still has a three
Speaker 1: games one lead in that series. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty seven hundred journalists and analysts more
Speaker 1: than a hundred twenty countries. Michael Barren, this is Bloomberg.
Speaker 1: Nathan Alright, Michael. Thanks at six nineteen on Wall Street
Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak.
Speaker 1: Let's turn out to what's happening in Asia. We did
Speaker 1: see a major selloff in Chinese stocks overnight. It's having
Speaker 1: reverberations throughout the market this morning, with a surge of
Speaker 1: COVID cases in Beijing, raising figures of the kinds of
Speaker 1: lockdowns the sent Shanghai into a panic earlier this month.
Speaker 1: For more, we're joined from Hong Kong this morning by
Speaker 1: Bloomberg Chief Asia Economics correspondent and the Current and good morning.
Speaker 1: Just how bad is the COVID situation in Beijing from
Speaker 1: how we can see it right now? So the total
Speaker 1: caseload Nathan is very low. I think it's officially below thirty.
Speaker 1: But that's not the real story. The concern is that
Speaker 1: Beijing has a converse stealth spread on their way of
Speaker 1: MCRON and we all know how transmissive of that is.
Speaker 1: And a concern is that that Chola will be heading
Speaker 1: for two of its most important cities being under lockdown.
Speaker 1: Shanghai's lockdown continues to grind on there as contained because
Speaker 1: cases remains someone elevated and the authorities remain committed to
Speaker 1: COVID zero. That Beijing is not yet under lockdown. What's
Speaker 1: going on. What's going on is that one part of
Speaker 1: the cha Yang district, which is home to about three
Speaker 1: and a half million people, which is kind of an
Speaker 1: ex patty part of town, banking part of town, they
Speaker 1: are forcing through a lot of mandatory testing, and there
Speaker 1: are some communities, maybe fourteen communities that have been described
Speaker 1: as being sealed up by the authorities, but a citywide
Speaker 1: lockdown is not yet in place. To concern though, is
Speaker 1: if that the authorities deemed that the cases aren't under
Speaker 1: control at some point soon that of course you'll see
Speaker 1: a broader lockdown. And that's why we've seen reports of
Speaker 1: conic shopping in the supermarkets, and of course that big
Speaker 1: reaction on markets where you have the U won't sell
Speaker 1: off down to it's to be unsure, you won't felt
Speaker 1: it was weakest than seventeen months. Stock slumped and arn
Speaker 1: or came off. Because of course, another lockdown will be
Speaker 1: very bad for the economic story. Yeah, we certainly saw
Speaker 1: how bad it was for Shanghai when that lockdown was underway,
Speaker 1: But we have started to see some of those restrictions
Speaker 1: get lifted in Shanghai. Does that give us any indication
Speaker 1: of how things could play out in Beijing? It's a
Speaker 1: modest easy according to her our reporting from there. You know,
Speaker 1: they're lifting it in the piece meal basis where there
Speaker 1: is where they believe there isn't examples of community spread.
Speaker 1: But you know, we've also read reports of restrictions being
Speaker 1: easy and restrictions being reinforced at the same time. And
Speaker 1: by the way, over the weekend we reported the offenses
Speaker 1: were being installed around Shanghai to steal off buildings or
Speaker 1: positive cases had been found. So you know, Shanghai remains
Speaker 1: under quite restrictive circumstances, I think, and there is no
Speaker 1: sense of an end game to it yet. But what
Speaker 1: I would say, Nathan, is that for all of the
Speaker 1: economic hit, there are those who say, if China can
Speaker 1: get these infections under control, that they will then reopen
Speaker 1: pretty quickly and allow the factories and production and industry
Speaker 1: production to get motoring again pretty soon, and to allow
Speaker 1: of course consumers to get shopping again. So that would
Speaker 1: obviously negate the hit to the economy. But that's obviously
Speaker 1: the big question. When will trying to get these cases
Speaker 1: under control and when will they be confident enough to
Speaker 1: allow people to move around freely again. And that's a
Speaker 1: serious question right now. But you have to think, and
Speaker 1: there's some political considerations as well, with President shi jin
Speaker 1: Ping of trying to keep support among not just polit
Speaker 1: bureau but the Chinese people themselves, or has he consolidated
Speaker 1: power enough that he can weather this No matter how
Speaker 1: the COVID situation plays out, well, you'd have to say
Speaker 1: it's a big test because you know, Chinese facing its
Speaker 1: biggest pandemic outbreak now since all of this began way
Speaker 1: back in early So this is a big test of
Speaker 1: the whole COVID zero approach. And and if you take
Speaker 1: social media as as a metric as one gauge of
Speaker 1: popular sentiment in Shanghai. We know people have been naturally
Speaker 1: very upset by what's going on, So the authorities are
Speaker 1: definitely under pressure, there's no doubt about it. In if
Speaker 1: Beijing went into a big lockdown, then you would have
Speaker 1: to say it will surely be a test of the
Speaker 1: whole overall COVID zero strategy. And that's happening at a
Speaker 1: time when the economy is already under some pressure from
Speaker 1: external forces like the Russia invasion of Ukraine, which is
Speaker 1: royal commodity markets, and of course signs of slowing demand
Speaker 1: for Chinese exports. So there's definitely a lot of egle
Speaker 1: on pressure on the authorities. But that's said Nathan, there
Speaker 1: hasn't been any real signal of a rich East from
Speaker 1: COVID zero just yet. In fact, all the signaling has
Speaker 1: been quite adamant about it. Last week we had President
Speaker 1: Shooting Pinion Hainan. He spoke, he spoke virtually to the
Speaker 1: Boao Forum there and he made the point that you know, primacy,
Speaker 1: people's lives has to be put above all else. He's
Speaker 1: used previous forms to make the point that COVID zero
Speaker 1: has got to be maintained in order to protect the people.
Speaker 1: And of course the state press make the point that
Speaker 1: living with COVID as as as we'll say to broad
Speaker 1: westward as justus too, is not the model and not
Speaker 1: the way for for China. One picular weekness I would say,
Speaker 1: Nathan is, vaccination made for the elderly in China is
Speaker 1: off the pace, and that's been seen as a vulnerability.
Speaker 1: All right, Boomberg chief as your economics correspondent, and occurring
Speaker 1: with us this morning from Hong Kong. As those concerns
Speaker 1: about potential lockdowns in Beijing are reverberating through markets right now.
Speaker 1: We have SMP futures down thirty three points down, futures
Speaker 1: down two fifty four, Nasdaq futures lowered by eighty eight points.
Speaker 1: Just ahead, Biden's cabinet visits Kiev, and Twitter gives el
Speaker 1: and Musk's takeover all for a second look, the five
Speaker 1: things you need to notice start your day just ahead
Speaker 1: Bloomberg eleven three oh weather partly sunny, low sixties today,
Speaker 1: a few showers possible tomorrow behind your sixty five, upper
Speaker 1: fifties for Wednesday, turning partly sunny right now forty seven
Speaker 1: degrees in Central Park, broadcasting live from the Bloomberg Interactive
Speaker 1: Broker's studio in New York. Bloomberg E Living Free to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg nine sixteen to the country, Sirius
Speaker 1: XM to the one nine and around the globe the
Speaker 1: Bloomberg Business at and Bloomberg Radio dot com. This is
Speaker 1: Bloomberg Daybreak six thirty on Wall Street. Good morning, I'm
Speaker 1: Nathan Hagar and I'm Karen Moscow, and we're just about
Speaker 1: three hours away from the open of US training. It's
Speaker 1: time for the five things you need to notice start
Speaker 1: your day. Brought to you by Interactor Brokers. Interactor Brokers
Speaker 1: charges margin loan rates from zero point eight three percent
Speaker 1: to one point three percent rate subject to change. Learn
Speaker 1: more at ibk R dot com slash compare. The first
Speaker 1: U S Secretary of State Anthony B. Lincoln and Defense
Speaker 1: Secretary Lloyd Austin visited Ukraine yesterday to me with the
Speaker 1: country's President, vladimir's Lensky. It's the highest level US visit
Speaker 1: to Ukraine since Russia began its invasion Austin said he
Speaker 1: wants to see Russia continue to lose its military capability.
Speaker 1: You want to see Rosia weakened to the degree that
Speaker 1: it can't do the kinds of things that it has
Speaker 1: done in invading Ukraine. U S Secretary of Defense Lloyd
Speaker 1: Austin and Secretary of State Anthony Blinkin met with a
Speaker 1: Lensky in Kiev. The US promised over seven hundred million
Speaker 1: dollars in financial assistance for Ukraine and its allies, and
Speaker 1: Lincoln also announced diplomats will soon be returning to the country,
Speaker 1: and US Secretary of State Anthony B. Lincoln was speaking
Speaker 1: after his visit. Well meantime, in France, Kareny Manuel Macron
Speaker 1: security victory over Marine Lapin in the country's presidential election yesterday.
Speaker 1: Mccron is the first incumbent to win a second term
Speaker 1: in France in two decades. And China stocks are slumping.
Speaker 1: Is a COVID outbreak is stoking fears of a lockdown
Speaker 1: in Beijing. US futures and European stocks also dropped. Right now.
Speaker 1: S and P futures are down thirty six points at nasday.
Speaker 1: Futures are down a hundred on the earnings front. This week, Karen, Apple, Amazon, Alphabet,
Speaker 1: and Microsoft all report as too many major industrial, healthcare,
Speaker 1: and consumer goods companies. Well A Big Tech reports earnings
Speaker 1: at Twitter is growing more receptive to Elon musk forty
Speaker 1: three billion dollar takeover offer. And we get the latest
Speaker 1: line from Bloomberg's or need a young good morning Ready
Speaker 1: to Good morning, Karen. Bloomberg. Sources say Elon Musk met
Speaker 1: with Twitter executives on Sunday to discuss his offer. Twitter's
Speaker 1: board initially countered Musk's proposal with a poison pill, which
Speaker 1: would make it more expensive for any investor, including Musk,
Speaker 1: to acquire stock beyond a fifteen percent stake. Musk currently
Speaker 1: owns about nine of Twitter, but the Wall Street Journal
Speaker 1: reports must said he will not adjust his fifty four
Speaker 1: twenty cents a share offer for Twitter that's above Friday's
Speaker 1: closing price. The journal also reports a deal could be
Speaker 1: finalized as soon as this week. Life in New York.
Speaker 1: I'm gonna need a young Bloomberg daybreak. All right, we
Speaker 1: need to thank you. And that's the five things you
Speaker 1: need to notice start your day. Brought to you by
Speaker 1: Interactive Brokers and Futures Again moving lower this morning Straight Ahead,
Speaker 1: your latest local headlines, plus a check of sports. And
Speaker 1: this is Bloomberg. All right, Karen, thank you. Six thirty
Speaker 1: three on Wall Street, degrees in Central Park. Still dealing
Speaker 1: with that accident investigation on the southbound Garden State Parkway.
Speaker 1: We'll get you the details coming up in traffic. First
Speaker 1: Michael Barr with more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: A New York City firefighter was killed and others injured
Speaker 1: after a house fire in Brooklyn. More than a hundred
Speaker 1: firefighters where at the scene the three alarmed blaze. Mayor
Speaker 1: Eric Adams says thirty one year old Timothy Kline was
Speaker 1: one of four firefighters caught in a partial ceiling collapse.
Speaker 1: It gives us great pain is sorrow to announce that
Speaker 1: New York City has lost one of the bravest. Mayor
Speaker 1: Adams also says a civilian apparently died in the blaze.
Speaker 1: The Supreme Court is taking on a dispute between public
Speaker 1: school officials and a former high school football coach who
Speaker 1: wanted to kneel and pray on the field after games.
Speaker 1: The case before the Justices involves Joseph Kennedy. He is
Speaker 1: a former football coach at Bremerton High School in Bremerton, Washington.
Speaker 1: Rachel Lizer, President and CEO of Americans United for Separation
Speaker 1: of Church and State, representing the school district, says Kennedy
Speaker 1: was asked to stop because there's a thin line between
Speaker 1: church and state. When you're acting as an agent of
Speaker 1: the state, you can't impose or religious views or practices
Speaker 1: on school children, and this has been clearly established law
Speaker 1: for decades. Rachel Liser, President and CEO of Americans United
Speaker 1: for Separation of Church and State. Kennedy's lawyers say the
Speaker 1: Constitution's freedom of speech and freedom of religion guarantees him
Speaker 1: to pray on the field. The Biden administration is appealing
Speaker 1: of federal judges ruling to end the mask mandate for
Speaker 1: passengers on planes, trains, and buses. The termination of those
Speaker 1: c d C travel restrictions come as COVID cases are
Speaker 1: rising in places like New York City. The new Commissioner
Speaker 1: of Health in New York City, Dr Ashwin Vassan, says
Speaker 1: he's disappointed. Number One, from a public health standpoint, wearing
Speaker 1: masks in indoor settings is is safe it's a safety issue.
Speaker 1: Um and planes, trains and automobiles and public transport is
Speaker 1: are really important higher risk locations because of the duration
Speaker 1: of exposure. Talked Son also says it really undermines trust
Speaker 1: when some city teachers got fake vaccination cards to keep
Speaker 1: their jobs. Global News twenty four hours a day on
Speaker 1: air end on Bloomberg Quick Take, powered by more than
Speaker 1: twenty seven hundred journalists and analysts in more than a
Speaker 1: hundred twenty countries. I'm Michael Barr, and this is Bloomberg NA.
Speaker 1: Thanks Michael. Just about six thirty six on Wall Street
Speaker 1: time for the Bloomberg Sports Update. Good morning, John Stash,
Speaker 1: Morning Nathan. Strong start to the Mets season kntinues. They
Speaker 1: won six two at Arizona's Tyler and McGill improved to
Speaker 1: three and oh a home run for J. D. Davis.
Speaker 1: The Mets have now played five series and they've lost
Speaker 1: once and only once in each series. For a little
Speaker 1: better team now Cardinals first place in the n L
Speaker 1: Central match Chers or St. Louis Native on the Mountain St.
Speaker 1: Louis for the Mets. Tonight, Yankees first wait for the
Speaker 1: season ended with our most lopsided wind ten to two
Speaker 1: over the Guardians at the Stadium. The Yanks were up
Speaker 1: six nothing by the third, editing home runs three Anthony Rizzo,
Speaker 1: d J. The Mayhew and the seldom used Tim Locasto
Speaker 1: and Garrett Cole. They will get his first and able
Speaker 1: to lower his e r A down to four. Yankees
Speaker 1: are off tonight, Barkleys tonight, and Nets face elimination. Celtics
Speaker 1: go for the series sweep. Nets coach Steve Nash after
Speaker 1: the Game three loss, asked if Kevin Durant's quiet series
Speaker 1: is the biggest problem the unforced turners. I don't think
Speaker 1: Kevin has to go off. You know, we we we
Speaker 1: shot a good percentage. Who of the balls that we
Speaker 1: just gave up, you know, poor decision making, you know,
Speaker 1: connecting simple passes and they're going the other way. That's
Speaker 1: to me is in the difference in all three games,
Speaker 1: and that's of course made the big trade. Philadelphia shipped
Speaker 1: out James Harden. The key player that got in returns
Speaker 1: Ben Simmons. But Simmons didn't play at all for the Sixers,
Speaker 1: had mental issues and then he heard his back while
Speaker 1: getting ready to play for the Nets. He was said
Speaker 1: to be set to make his Nets debut tonight. It
Speaker 1: would be his first game in nearly a year, but
Speaker 1: Simmons woke up yesterday with the back still store. He
Speaker 1: will not play Milwaukee in Miami. With wins at Chicago
Speaker 1: and Atlanta, the Bucks and Heat have three one series
Speaker 1: leads Denver one still trails Golden State three and one
Speaker 1: New Orleans beat Max. That's you're surprisingly John sports. All right, John,
Speaker 1: thank you. It is six thirty seven on Wall Street Time.
Speaker 1: Now to take a look at stocks, some of the
Speaker 1: names moving in the pre market, with Bloomberg Radio and
Speaker 1: TV Markets correspondent creating Gupta created if you look at
Speaker 1: the index level, looks like everything's moving lower everything, which
Speaker 1: is kind of important here. To take a step back
Speaker 1: before we do that, let's talk about the handful of
Speaker 1: stocks and I reary meet. I really mean a handful, Nathan.
Speaker 1: Only four stocks in the green this morning, and that's
Speaker 1: I'm just gonna read them to you here. The biggest one,
Speaker 1: I think is Twitter that everyone cares about this, of course,
Speaker 1: coming after a report is from the Wall Street Journal
Speaker 1: that Elon Musk and the board have come to some
Speaker 1: sort of agreement. Now, of course, we do know that
Speaker 1: there has been that kind of poison pill talk. How
Speaker 1: the board wanted to prevent elon Musk or at least
Speaker 1: get maybe a higher offer. Now reports suggests that forty
Speaker 1: three billion dollar offered that's really or million four billion,
Speaker 1: I'm sorry, billion dollars. It's Monday, Nathan. Billion dollar offer
Speaker 1: still is on the able. They're going to work out
Speaker 1: how the financing works out, though, so whether or not
Speaker 1: that reporting can be confirmed can be backed up. That's,
Speaker 1: of course we're gonna be waiting here, but for now,
Speaker 1: investors kind of bullished on Twitter, especially on a risk
Speaker 1: off day today, t w t R up zero point
Speaker 1: eight percent. The other one that's getting quite a bit
Speaker 1: of attention is PEN National Gaming. This comes after a
Speaker 1: mortgage Stanley analyst raised the recommendation to an overweight from
Speaker 1: an equal weight. The price target set to fifty one
Speaker 1: dollars at increase from the last that's a kind of
Speaker 1: a recommendation that's boosting PEN shares p e n N
Speaker 1: up two point nine percent. Nathan. Obviously, the morning seems
Speaker 1: to be dominated by what's happening in China, the growth
Speaker 1: concerns there with the worry about COVID lockdowns. Could things
Speaker 1: turn around low. Later on this week, when we start
Speaker 1: to hear from a lot of companies in the SMP
Speaker 1: reporting earnings, well, this is such a make or break week, Nathan,
Speaker 1: because it's tech earnings and it comes down to the
Speaker 1: waitings essentially. I mean, if you look at some of
Speaker 1: the pre market movers this morning, your biggest decliners in
Speaker 1: the S and P five, they're not your tech names,
Speaker 1: which is what you would think on to trying to
Speaker 1: sell off. They're actually your commodity names, which is really
Speaker 1: a direct result of this idea that if Beijing goes
Speaker 1: under lockdown, which is perhaps the fear here, a lockdown
Speaker 1: similar to the likes of Shanghai a capital imagine Washington,
Speaker 1: d C. The entire city going under lyingdown. That would
Speaker 1: as kind of scale that they're talking about in a
Speaker 1: much more populated region, I should say. So that's really
Speaker 1: the concern here. Names like Freeport mcmaran fc X as
Speaker 1: you're taking down four point four percent in just the
Speaker 1: pre market trading oil names as well, Occidental o x
Speaker 1: Y down three point seven percent, and then of course
Speaker 1: you have likes of Devon Energy TV and UP down
Speaker 1: three point six percent, and of course some of those
Speaker 1: tech names following and really dragging the rest of the
Speaker 1: market down with it, all right, Bloomberg Radio on TV
Speaker 1: Markets correspondent Creedy Gupta, We know the market will be
Speaker 1: open no matter what happens later on this morning, and
Speaker 1: as we take a look at stocks as a whole
Speaker 1: ahead of that, as we say, they are moving lower,
Speaker 1: with SMP futures now down forty points, South futures down
Speaker 1: three seven, Nasdaq futures on the decline by a hundred
Speaker 1: nineteen points. Ten year Treasury is up twenty two thirty seconds,
Speaker 1: the yield two point eight one and the yield on
Speaker 1: the two year right now two point five nine percent.
Speaker 1: More on the cabinet visit to Kiev and Elizabeth Warren's
Speaker 1: warning to Democrats. Emily Wilkins Bloomberg Government joins us next
Speaker 1: from Washington. This is Bloomberg Bloomberg eleven three oh Weather
Speaker 1: partly sunny, low sixties today. We could see a few
Speaker 1: showers tomorrow at the high near sixty five, upper fifties
Speaker 1: to your sixty Wednesday, as we turned partly sunny right
Speaker 1: now in Central Park, Markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com. The Bloomberg
Speaker 1: Business at Hand at Bloomberg Quicktape. He's a Bloomberg Business
Speaker 1: Flash and I'm Karen Moscow and US DOT index futures
Speaker 1: are falling this morning. We had the first word of
Speaker 1: Breaking News desk for today's morning call. Here's Bill Maloney. Bill,
Speaker 1: good morning and good morning, Karen. That's right. US futures
Speaker 1: are under pressure after Friday's plunge. Without futures down three
Speaker 1: undred points, says to be dropped thirty nine, while NASZAC
Speaker 1: futures are down by a hundred and ten. The US
Speaker 1: ten year that two point eight two percent, Gold is
Speaker 1: down sixteen. Oil is also falling, and bitcoin is down
Speaker 1: by two point six percent. Shanghai dropped five point one
Speaker 1: percent overnight, while up and markets are also in the red,
Speaker 1: led by two percent losses in the UK and France
Speaker 1: back in the US. On the economic Frinday thirty, Chicago
Speaker 1: fed Indian News. Twitter is growing more open towards Musk's
Speaker 1: takeover offer and regarding earnings. This morning, look for Coca
Speaker 1: Cola's report in the pre market. Rapid things up. Newmont
Speaker 1: was cut to market perform at Bernstein. Verizon was cut
Speaker 1: to neutral over at Goldman Sachs live from the first
Speaker 1: to Breaking News desk on Bill Maloney Cara Verry, Bill,
Speaker 1: thank you to hear live breaking news over her. Bloomberg
Speaker 1: types walk on your terminal, I'll scu you a w
Speaker 1: u K and that's a Bloomberg business flaction. Now here's
Speaker 1: Michael bar with more on what's going on in the world.
Speaker 1: Michael Karen, thank you very much. After a secrecy shrouded
Speaker 1: visit to Kiev, US Secretary of State Anthony Blincoln said
Speaker 1: Russia is failing in its war and aims to have
Speaker 1: Ukraine succeeding. The trip by Blincoln and Defense Secretary Lloyd
Speaker 1: Austin was the highest level American visit to the Capitol
Speaker 1: since Russia invaded in late February. Crews are fighting a
Speaker 1: fast moving wild fire in New Mexico. Firefighters in Colfax
Speaker 1: County near Las Vegas are battling the Cook's Peak Fire.
Speaker 1: The flames have expanded to more than forty eight thousand acres.
Speaker 1: In MLB, the Yankees and Mets won the Red Sox
Speaker 1: Scenariols lost. The Giants beat the Nationals twelve three. The
Speaker 1: A's one in the NBA playoffs. It's do or die
Speaker 1: tonight for the Nets, they have to beat the Celtics
Speaker 1: and game four of their series to avoid being eliminated.
Speaker 1: The Warriors lost. For the Nuggets, Golden State still has
Speaker 1: the three games to one lead in that series. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Day, powered by more than twenty seven hundred
Speaker 1: journalists nantolists more than twenty countries. Michael bar this is Bloomberg.
Speaker 1: The following commentary is from Bloomberg Opinion. America may have
Speaker 1: eaten its fill of take out chicken wings. I'm justin Fox,
Speaker 1: a columnist for Bloomberg Opinion. When Americans were confronted with
Speaker 1: the worst pandemic and more than a century, they reacted
Speaker 1: in some surprising ways. One of them was to order
Speaker 1: lots of chicken wings. Same store sales at restaurant chain
Speaker 1: wing Stop rose thirty two percent in the second quarter
Speaker 1: of as other fast food brands and new style ghost
Speaker 1: kitchens got in on in the wings action. Wholesale chicken
Speaker 1: wing price is more than doubled in twelve months. Wings
Speaker 1: are easy to prepare and stand up well to delivery,
Speaker 1: making them a great choice for idle restaurant kitchens and
Speaker 1: hungry consumers during lockdowns. Now that things have returned kind
Speaker 1: of sort of to normal, wholesale wing prices and wing
Speaker 1: stops stock are down. Both are still higher than before
Speaker 1: the pandemic. Wings aren't over, just taking a break. I'm
Speaker 1: justin Fox. For more opinion, please go to Bloomberg dot com,
Speaker 1: Slash Opinion or O P I n go on the
Speaker 1: Bloomberg terminal. This has been Bloomberg Opinion and Bloomberg Opinion
Speaker 1: commentaries can be heard every weekday at this time at terminal.
Speaker 1: Customers can read more at O P I n go.
Speaker 1: It is six fifty on Wall Street. Returned to news
Speaker 1: and science and technology now with a Bloomberg and j
Speaker 1: I T. Stam report brought to you Buy New Jersey
Speaker 1: Institute of Technology and j I T offers New Jersey's
Speaker 1: first undergraduate degree in fintech. Take driven to Finance Focus.
Speaker 1: Learn more at n j I T dot E d
Speaker 1: U Slash Fintech and now Here's its making News and science, Technology,
Speaker 1: engineering and math. And China, the coronavirus outbreak has gone worse.
Speaker 1: A rising number of cases in Beijing is sparked jitterous
Speaker 1: about an unprecedented lockdown to the capitol. Policymakers are trying
Speaker 1: to avert at Shanghai style crisis that has already reached
Speaker 1: havoc on that city. There's another risk of global food inflation.
Speaker 1: The top producer of palm oil Indonesia says it'll banas
Speaker 1: words until the government is certain a domestic shortage is resolved.
Speaker 1: Palm Oil is used in packaged foods and as cooking oil.
Speaker 1: It's also used in non food items such as detergents
Speaker 1: and cosmetics. And Netflix earnings disappointment is still rippling through
Speaker 1: the markets, and AZDAC A hundred index or one hundred
Speaker 1: index has ere raised about one trillion dollars in market
Speaker 1: values since the streaming company's report. The stock is the
Speaker 1: worst performer in the SNP five hundred this year, down
Speaker 1: sixty percent. On the bright side, Netflix has surged about
Speaker 1: twenty thousand percent since going public in two thousand two.
Speaker 1: And as the Bloomberg n j I t Stem report Nathan,
Speaker 1: all right, Karen, thank you. We are live from the
Speaker 1: Bloomberg Interactive Brokers studios, where it's coming up to six
Speaker 1: fifty two on Wall Street time Now to check what's
Speaker 1: going on in d C Some of the top stories
Speaker 1: in our nation's capital include Secretary of State Anthony Lincoln
Speaker 1: and Defense Secretary Lloyd Austin promising more weapons and the
Speaker 1: return of diplomats in a visit to Kiev, Ukrainian Prime
Speaker 1: Minister Dennis schmil tells CBS S face the Nation. The
Speaker 1: visit with President Vladimir's Lensky is as important for the
Speaker 1: US as it is for Ukraine to see by their
Speaker 1: own eyes what's happened, which atrocities and war crimes Russian
Speaker 1: Army and Russian Federation made in Ukraine. U N Secretary
Speaker 1: General Antonio Guterres plans to meet with Russian President Vladimir
Speaker 1: Putin in Moscow tomorrow. Ukrainian Deputy Chief of Staff e
Speaker 1: Or Jovka tells NBCs meet the press. That's not a
Speaker 1: good idea and the result. I really doubt if those
Speaker 1: fee stalks organized by Secretary General will the UN will
Speaker 1: end up with any results. Also making news, Democratic Senator
Speaker 1: Elizabeth Warren warning her party is in trouble going into
Speaker 1: the mid terms unless it does more about inflation. Democrats
Speaker 1: ran and always run on trying to make government work
Speaker 1: for working people. We've got nearly two hundred days left.
Speaker 1: That's what we need to put our energy off. Senator
Speaker 1: Warren spoke there on Meet the Press, which you can
Speaker 1: hear every Sunday on Bloomberg Radio along with Face the Nation.
Speaker 1: Let's get more now from Bloomberg Government reporter Emily Wilkins
Speaker 1: starting off with the visit of Secretaries Blincoln and Austin
Speaker 1: to Kiev. Emily, this was much more than just about symbolism.
Speaker 1: There was news made in Kiev. Yes, Um, the US
Speaker 1: has pledged more than seventy seven hundred million dollars in
Speaker 1: continued aid to Ukraine, and that came with this visit
Speaker 1: by Secretary Blincoln and Secretary Austin. And they're saying also
Speaker 1: that starting next week other U s supplements are diplomats
Speaker 1: are going to be able to return to Ukraine as well,
Speaker 1: and that the embassy is going to open soon after.
Speaker 1: So really showing that the US is now at the
Speaker 1: point where they are starting to really come back to Ukraine. Uh.
Speaker 1: This is going on even as there is a continued
Speaker 1: battle UH in Maryouple over the steel plant, and while
Speaker 1: Russian forces are really concentrating on the eastern part of
Speaker 1: the country. UM. At the same point, there's a sense
Speaker 1: that that Kiev is slightly safer than that I guess
Speaker 1: it has been in the past, or there's simply an
Speaker 1: ability now for the US to be there after it
Speaker 1: initially evacuated all of diplomats several months ago. Now I
Speaker 1: know Congress is heading back from its recess back to
Speaker 1: Capitol Hill. When do we expect debate to resume on
Speaker 1: even further aid to Ukraine? So we know that there's
Speaker 1: going to be legislation this week that's going to make
Speaker 1: that's going to go through the House. It's already passed
Speaker 1: the Senate, and basically it's just going to make it
Speaker 1: easier for President Biden to send defense systems over to Ukraine.
Speaker 1: It's going to take down some of the waivers and
Speaker 1: what not that would need to be done initially. We're
Speaker 1: also expecting an additional funding request from the White House
Speaker 1: to Congress. We don't know exactly how much that's going
Speaker 1: to be. Congress still hasn't gotten that request from the
Speaker 1: White House, but leaders in Congress say that once they
Speaker 1: get that request, they're going to be moving very quickly
Speaker 1: on it. Uh, it could be as soon as this week.
Speaker 1: Might might need to wait for a little bit um,
Speaker 1: just kind on when when the White House gets the
Speaker 1: requests there, but it's something there's a lot of bipartisan
Speaker 1: support on. I think the big question though, is if
Speaker 1: a bill like that is introduced, will lawmakers try to
Speaker 1: add other items to it. I'm thinking perhaps in regards
Speaker 1: with immigration, that Title forty two that's about to be
Speaker 1: lifted that would end certain restrictions on migrants crossing at
Speaker 1: the southern border. Yeah, it's interesting you mentioned that potentially
Speaker 1: coming into play because as Congress returns, we're going to
Speaker 1: have the return of politics and the battle for the
Speaker 1: mid terms, and we certainly heard from Senator Warren sort
Speaker 1: of laying down the stakes for what could be coming
Speaker 1: for Democrats. Yeah. Warren tolds that over the weekend that
Speaker 1: our party could be in real trouble if the party
Speaker 1: doesn't do more to address high inflation. And one of
Speaker 1: the things that Warren is suggesting doing at this point
Speaker 1: is really going after large, large companies, which she says
Speaker 1: have been price gouging aid because of inflation, they felt
Speaker 1: like they can go ahead continue to raise their prices.
Speaker 1: She called on the Federal Trade Commission to investigate and
Speaker 1: to prosecute and Nathan this is something we've already seen
Speaker 1: the Congress begin on. We've seen hearings about whether or
Speaker 1: not companies are raising their prices more than they need
Speaker 1: to be at this point in time. Um, and if
Speaker 1: there are things going on that that really these companies
Speaker 1: can be held accountable. Forum. On the other point, there
Speaker 1: really are you know, trade backups. UM, there's definitely deals
Speaker 1: still an impact from the pandemic at a global level,
Speaker 1: and so there are supply chain issues that are impacting
Speaker 1: inflation that that really are going to be difficult for
Speaker 1: Democrats to try and control in any way, shape or form.
Speaker 1: Now just a few months until that midterm election. Bloomberg
Speaker 1: Government reporter Emily Wilkins joining us this morning from Washington,
Speaker 1: d C. And you can read more about these stories
Speaker 1: on Bloomberg dot com or on the Bloomberg terminal. Listen
Speaker 1: to Bloomberg Radio in Washington at Bloomberg and one oh
Speaker 1: five point seven FM h D two. Karen, Herry, Nathan,
Speaker 1: thank you for watching. Coca Cola earnings crossing the Bloomberg
Speaker 1: so first quarter comparable UH profit coming in beating analysts
Speaker 1: estimate sixty four cents a share and also organic revenue
Speaker 1: in the quarter up eighteen percent. Analysts were looking for
Speaker 1: a rise of nine and a half percent, so that
Speaker 1: easily beat as well. And also they talked about the
Speaker 1: Russia impact here with that situation, it's estimated to be
Speaker 1: one percent to unit case volume. Now, I've been watching
Speaker 1: shares in the early trade. Uh they were weighed down
Speaker 1: right after those earnings crossed, but then they they trimmed
Speaker 1: some of those losses and in the early trade they
Speaker 1: were down about four tens of a percent at last check.
Speaker 1: Futures this morning are also moving lower, and Bloomberg Surveillance
Speaker 1: is straight ahead for Nathan Hagar. I'm Karen Moscow and
Speaker 1: this is Bloomberg