1 00:00:02,840 --> 00:00:05,480 Speaker 1: Live from the Bloomberg in Director Berger Studios. This is 2 00:00:05,519 --> 00:00:09,280 Speaker 1: Bloomberg day Break for Tuesday. On his second two Coming 3 00:00:09,320 --> 00:00:12,200 Speaker 1: up this hour, Tensions escalate between the U S and 4 00:00:12,320 --> 00:00:16,160 Speaker 1: China as Nancy Pelosi heads to Taiwan. Stocks drop around 5 00:00:16,160 --> 00:00:18,720 Speaker 1: the world on the News team, coverage is straight ahead. 6 00:00:18,920 --> 00:00:21,200 Speaker 1: A top al Qaida leader is killed in a US 7 00:00:21,320 --> 00:00:24,800 Speaker 1: drone strike, and another blowout earnings report by Big Oil. 8 00:00:24,920 --> 00:00:28,160 Speaker 1: This time it's VP New York City, along with California, 9 00:00:28,240 --> 00:00:31,280 Speaker 1: to have declared the state of emergency because of monkeypox cases, 10 00:00:31,560 --> 00:00:34,560 Speaker 1: lost its primary day in five states. I'm Michael Larer. 11 00:00:34,640 --> 00:00:37,480 Speaker 1: More Ahead, I'm John Stash, Aaron Sports another errand Judge 12 00:00:37,520 --> 00:00:40,200 Speaker 1: home running. The Yankees win seventh straight win for the Mets. 13 00:00:40,280 --> 00:00:45,599 Speaker 1: Jacob de Graham pitches tonight. That's all straight Ahead on 14 00:00:45,680 --> 00:00:48,960 Speaker 1: Bloomberg day Break on Bloomberg Elving Free on New York, 15 00:00:49,040 --> 00:00:53,600 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 16 00:00:53,720 --> 00:00:58,000 Speaker 1: Bloomberg nine sixties, San Francisco, Syrius x M one nineteen 17 00:00:58,160 --> 00:01:01,080 Speaker 1: and around the world on Bloomberg Radio dot Com and 18 00:01:01,200 --> 00:01:08,319 Speaker 1: via the Bloomberg Business Actor. Good morning, I'm Nathan Hagar, 19 00:01:08,680 --> 00:01:11,480 Speaker 1: and I'm Karen mall scalo in US South Index futures 20 00:01:11,480 --> 00:01:13,760 Speaker 1: are lower this morning. We are coming up to six 21 00:01:13,760 --> 00:01:15,479 Speaker 1: oh one on Wall Street, and we checked the markets 22 00:01:15,480 --> 00:01:18,240 Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg, U 23 00:01:18,280 --> 00:01:21,040 Speaker 1: S and P Future is down thirty points now futures 24 00:01:21,040 --> 00:01:24,520 Speaker 1: down one fifty nine and as day futures down one seven. 25 00:01:24,800 --> 00:01:27,600 Speaker 1: Ten year Treasury is up eight thirty seconds, held two 26 00:01:27,640 --> 00:01:30,240 Speaker 1: point five four percent, and they yield on the two 27 00:01:30,360 --> 00:01:33,680 Speaker 1: year two point eight five percent. And NIMEX screwed oil 28 00:01:33,760 --> 00:01:35,399 Speaker 1: is down about a ten s of upper cent or 29 00:01:35,400 --> 00:01:38,720 Speaker 1: seventy four cents and ninety three dollar seventeen cents of barrel. 30 00:01:38,800 --> 00:01:41,480 Speaker 1: Nathan Karen will have more on markets in just a minute. First, 31 00:01:41,560 --> 00:01:44,480 Speaker 1: a major announcement from the White House. President Biden says 32 00:01:44,480 --> 00:01:47,400 Speaker 1: the US drone strike in Afghanistan killed one of the 33 00:01:47,400 --> 00:01:50,480 Speaker 1: planners of the nine eleven attacks, Ammon al Zawahi, was 34 00:01:50,560 --> 00:01:53,880 Speaker 1: the leader of al Qaida. No matter how long it takes, 35 00:01:54,520 --> 00:01:57,760 Speaker 1: no matter where you hide, if you are a threat 36 00:01:57,800 --> 00:02:00,280 Speaker 1: to our people, the United States will find in you 37 00:02:00,840 --> 00:02:04,120 Speaker 1: and take you out. Senior Administration official tells us the 38 00:02:04,160 --> 00:02:06,280 Speaker 1: drone strike had been planned for weeks and there were 39 00:02:06,280 --> 00:02:09,720 Speaker 1: no civilian casualties. Well, Nathan. The strike comes about a 40 00:02:09,840 --> 00:02:12,239 Speaker 1: year after the fall of Kabbal to the Taliban and 41 00:02:12,280 --> 00:02:17,040 Speaker 1: the US military's hasty withdrawal from Afghanistan. Lester Munson, principle 42 00:02:17,160 --> 00:02:20,720 Speaker 1: at the government relations firm BGR Group, says it's important 43 00:02:20,760 --> 00:02:23,840 Speaker 1: to look at the attack from that context. What else 44 00:02:23,960 --> 00:02:27,440 Speaker 1: is happening in Afghanistan? One are the other consequences of 45 00:02:27,440 --> 00:02:30,000 Speaker 1: our withdrawal. This is one event. It may be a 46 00:02:30,080 --> 00:02:31,960 Speaker 1: very significant one, but we do need to kind of 47 00:02:31,960 --> 00:02:34,000 Speaker 1: put it in the constellation of all of the other 48 00:02:34,040 --> 00:02:37,160 Speaker 1: information that we have. Lester Munson with BGR Groups spoke 49 00:02:37,200 --> 00:02:40,280 Speaker 1: with our Washington correspondent Joe Matthew on Bloomberg Sound On. 50 00:02:40,440 --> 00:02:43,720 Speaker 1: Catch the program weekdays at five pm Eastern on Bloomberg Radio. 51 00:02:43,919 --> 00:02:45,959 Speaker 1: Another major story we're following at this hour care in 52 00:02:46,040 --> 00:02:49,560 Speaker 1: US House speaker Nancy Pelosi expected in Taiwan this morning, 53 00:02:49,639 --> 00:02:53,080 Speaker 1: defying Chinese threats of military action over the visit. We 54 00:02:53,120 --> 00:02:56,440 Speaker 1: get more from Bloomberg's Bruce Einhorn in Hong Kong. She 55 00:02:56,880 --> 00:02:59,440 Speaker 1: has a long history going back to you know, the 56 00:02:59,440 --> 00:03:01,720 Speaker 1: early days of her career as a China Hawk. She 57 00:03:01,760 --> 00:03:05,680 Speaker 1: has a long record supporting human rights issues are related 58 00:03:05,680 --> 00:03:07,960 Speaker 1: to China. She's met with the Dali Lama, She's met 59 00:03:08,000 --> 00:03:11,880 Speaker 1: with Joshua Wang, the pro democracy activists from Hong Kong. 60 00:03:12,280 --> 00:03:16,080 Speaker 1: She's met with ethnic wagers from Shinjian. So this is 61 00:03:16,120 --> 00:03:19,000 Speaker 1: just in keeping with the long history of Nancy Pelosi's 62 00:03:19,000 --> 00:03:22,640 Speaker 1: position when it comes to highlighting human rights issues democracy 63 00:03:22,639 --> 00:03:26,399 Speaker 1: issues related to China. Broomberg's Bruce sin Horn says Pelosi's 64 00:03:26,400 --> 00:03:28,799 Speaker 1: trip would make her the highest ranking American politician to 65 00:03:28,919 --> 00:03:32,280 Speaker 1: visit Taiwan in twenty five years. Well, Nathan, the escalating 66 00:03:32,280 --> 00:03:35,640 Speaker 1: tension between the US and China is impacting Marcus Sis morning, 67 00:03:35,760 --> 00:03:38,680 Speaker 1: US futures are lower, and Asian stocks fell overnight. We 68 00:03:38,760 --> 00:03:42,560 Speaker 1: get the recount from Bloomberg's Juliet Sally in Singapore. Good Morning, Juliet, 69 00:03:42,680 --> 00:03:45,720 Speaker 1: Good morning Karen. China cs I three extended it's July 70 00:03:45,840 --> 00:03:48,360 Speaker 1: losses and is now down around nine percent from its 71 00:03:48,440 --> 00:03:52,520 Speaker 1: June peak, moving closer towards the correction. Taiwanese stocks also 72 00:03:52,560 --> 00:03:54,840 Speaker 1: came under pressure, while the Taiwan dollar fell to a 73 00:03:54,960 --> 00:03:58,320 Speaker 1: May twenty low against the green bag, investors flock to 74 00:03:58,400 --> 00:04:00,840 Speaker 1: save haven's With the yen rising against the dollar, for 75 00:04:00,920 --> 00:04:04,720 Speaker 1: a fifth session, its longest winning streaks since April one, 76 00:04:05,040 --> 00:04:07,800 Speaker 1: and Australian Vaughn's rose, while the Aussie dropped as the 77 00:04:07,880 --> 00:04:11,480 Speaker 1: r VA became slightly less hawkish while still delivering another 78 00:04:11,600 --> 00:04:16,000 Speaker 1: fifty basis point hike In Singapore. Juliet Sally Bloomberg daybreak. 79 00:04:16,120 --> 00:04:18,360 Speaker 1: All right, Juliet, thank you. In Europe this morning, shares 80 00:04:18,360 --> 00:04:21,040 Speaker 1: a VP or up about three percent. The Oil Giants 81 00:04:21,040 --> 00:04:23,760 Speaker 1: second quarter adjusted net income was the highest since two 82 00:04:23,800 --> 00:04:26,479 Speaker 1: thousand and eight. We get more from Bloomberg Intelligence senior 83 00:04:26,560 --> 00:04:29,800 Speaker 1: energy analyst Will Hares. This is a very big beat 84 00:04:29,839 --> 00:04:32,200 Speaker 1: from BP and two Q eight and a half billion 85 00:04:32,240 --> 00:04:35,320 Speaker 1: in adjusted earnings. This is roughly more than two billion 86 00:04:35,400 --> 00:04:39,720 Speaker 1: than the Street CONTENTUS had estimated. A big driver here 87 00:04:39,800 --> 00:04:43,000 Speaker 1: has been there the oil trading division, which is not 88 00:04:43,200 --> 00:04:47,680 Speaker 1: broken out by VP. The company cited they had exceptional 89 00:04:47,760 --> 00:04:51,480 Speaker 1: oil trading returns, capturing value from some of that historic 90 00:04:51,560 --> 00:04:54,800 Speaker 1: volatility we have seen well Hairs with Bloomberg Intelligence says 91 00:04:54,839 --> 00:04:58,840 Speaker 1: BP also increased its dividend and accelerated share by backs well. 92 00:04:58,920 --> 00:05:01,360 Speaker 1: Nathan Beck. Here in the U shares A pinterest are 93 00:05:01,400 --> 00:05:04,880 Speaker 1: surging up more than eighteen percent, as after Elliott Investment 94 00:05:04,920 --> 00:05:08,080 Speaker 1: Management confirmed as Steak is the company's top shareholder, and 95 00:05:08,200 --> 00:05:11,320 Speaker 1: we get the story from Bloomberg's Charlie Pellett. Elliott says 96 00:05:11,360 --> 00:05:15,640 Speaker 1: it approves of the company's leadership. Sales at Pinterest increase 97 00:05:15,800 --> 00:05:19,320 Speaker 1: nine percent to six hundred sixty five point nine million 98 00:05:19,320 --> 00:05:22,240 Speaker 1: dollars in the second quarter. Pinterests that have had four 99 00:05:22,320 --> 00:05:25,680 Speaker 1: hundred thirty three million monthly active users at the end 100 00:05:25,680 --> 00:05:28,800 Speaker 1: of the period on June, about the same as in 101 00:05:28,880 --> 00:05:32,240 Speaker 1: the previous quarter, but a five percent decline from a 102 00:05:32,320 --> 00:05:36,680 Speaker 1: year earlier. In New York, Charlie Pellett Bloomberg tabreak. All right, Charlie, thanks, 103 00:05:36,680 --> 00:05:39,239 Speaker 1: and the earnings continue today with more than forty companies 104 00:05:39,279 --> 00:05:42,600 Speaker 1: reporting Uber Technologies reports. This afternoon, we get a preview 105 00:05:42,600 --> 00:05:46,200 Speaker 1: from Bloomberg's Tom Busby. Investors will focus on two things 106 00:05:46,240 --> 00:05:49,360 Speaker 1: from the second quarter results out today. Signs of how 107 00:05:49,360 --> 00:05:52,120 Speaker 1: a shortage of drivers may have impacted its ride hailing 108 00:05:52,160 --> 00:05:55,520 Speaker 1: business and how much it's food delivery unit Uber Eats 109 00:05:55,560 --> 00:05:59,160 Speaker 1: may have suffered from rising food costs. Bloomberg and Census 110 00:05:59,160 --> 00:06:02,160 Speaker 1: calls for revenue of seven point three nine billion dollars 111 00:06:02,200 --> 00:06:04,880 Speaker 1: at a loss of twenty five cents per share total 112 00:06:04,920 --> 00:06:08,560 Speaker 1: losses forecast to be around four hundred nine million dollars. 113 00:06:08,680 --> 00:06:12,599 Speaker 1: Tom Busby Bloomberg Daybreak, Tom, thank you. Another corporate news 114 00:06:12,680 --> 00:06:15,400 Speaker 1: this morning. The legal moves are heating up in Twitter's 115 00:06:15,480 --> 00:06:17,960 Speaker 1: case against Elon Musk. We get the latest line from 116 00:06:17,960 --> 00:06:20,839 Speaker 1: Bloomberg's I Need a young Good Morning Radio, Good Morning, Karen. 117 00:06:20,920 --> 00:06:23,880 Speaker 1: Twitter is probing the social circle of the Elon Musk 118 00:06:24,240 --> 00:06:27,360 Speaker 1: lawyers are making far reaching legal requests about his forty 119 00:06:27,440 --> 00:06:30,679 Speaker 1: four billion dollar deal to take Twitter private. That's according 120 00:06:30,680 --> 00:06:34,280 Speaker 1: to legal documents obtained by The Washington Post. Not twitters 121 00:06:34,360 --> 00:06:38,279 Speaker 1: legal team asked for information about Silicon Valley elite investors, 122 00:06:38,520 --> 00:06:42,120 Speaker 1: including David Sacks and Bark Andresen, and since some of 123 00:06:42,160 --> 00:06:45,239 Speaker 1: the heavy hitters have not been named publicly in the deal, 124 00:06:45,480 --> 00:06:48,280 Speaker 1: it suggests just how far Twitter is willing to go 125 00:06:48,640 --> 00:06:51,560 Speaker 1: to four C Elon Musk to honor the deal. Twitter 126 00:06:51,640 --> 00:06:54,760 Speaker 1: is also probing Morgan Stanley, Bank of America and other 127 00:06:54,800 --> 00:06:58,600 Speaker 1: banks that committed to backing the acquisition. Live in New York, 128 00:06:58,640 --> 00:07:01,560 Speaker 1: I'm gonna need a young, Bloomberg Daybreak, Thanks for Nita SMP. 129 00:07:01,720 --> 00:07:04,240 Speaker 1: Futures now or down thirty two points down. Futures down 130 00:07:04,240 --> 00:07:07,119 Speaker 1: a hundred seventy Nasdaq futures lower by a hundred thirty 131 00:07:07,120 --> 00:07:10,000 Speaker 1: two points, that is a drop of one percent. Tenure 132 00:07:10,040 --> 00:07:13,080 Speaker 1: Treasury is up seven thirty seconds to the yield two 133 00:07:13,120 --> 00:07:16,680 Speaker 1: point five four percent. Straight ahead, your latest local headlines 134 00:07:16,800 --> 00:07:23,360 Speaker 1: and a check of sports. This is Bloomberg six oh 135 00:07:23,440 --> 00:07:26,480 Speaker 1: seven on Wall Street, seventy one degrees in Central Park northbound. 136 00:07:26,560 --> 00:07:28,680 Speaker 1: Root thirty five is closed at the Victory Circle in 137 00:07:28,760 --> 00:07:31,440 Speaker 1: South Amboy for an accident. Details coming up in traffic. 138 00:07:31,480 --> 00:07:33,760 Speaker 1: First Michael Barr with what else is going on in 139 00:07:33,760 --> 00:07:36,760 Speaker 1: New York and around the world. Michael, thank you very much, Nathan. 140 00:07:36,760 --> 00:07:39,800 Speaker 1: New York City has declared a state of emergency as 141 00:07:39,880 --> 00:07:44,560 Speaker 1: monkeypox cases continued to rise. A reporter asked Mayor Eric 142 00:07:44,600 --> 00:07:47,440 Speaker 1: Adams if the city has quote dropped the ball. On 143 00:07:47,480 --> 00:07:50,400 Speaker 1: its response, Adam says it has done the best it 144 00:07:50,560 --> 00:07:53,280 Speaker 1: could with the tools it had. We will receive it 145 00:07:53,480 --> 00:07:57,440 Speaker 1: less than we deserved. In vaccines, we advocated we utilize 146 00:07:57,480 --> 00:08:01,440 Speaker 1: our direct communication with the White House. Get more. About 147 00:08:01,480 --> 00:08:04,360 Speaker 1: a quarter of all monkeypox cases in the United States 148 00:08:04,440 --> 00:08:07,239 Speaker 1: are in New York City. An estimated one hundred fifty 149 00:08:07,240 --> 00:08:11,240 Speaker 1: thousand New Yorkers are at risk of monkeypox exposure. California 150 00:08:11,280 --> 00:08:13,520 Speaker 1: has declared a state of emergency to deal with the 151 00:08:13,520 --> 00:08:16,800 Speaker 1: outbreak of monkey box. More in this live report from 152 00:08:16,800 --> 00:08:20,840 Speaker 1: Bloomberg's John Tucker John Michael. Governor Gavin Newsom mayde declaration 153 00:08:20,880 --> 00:08:24,000 Speaker 1: to bolster the state's vaccine efforts. It makes California the 154 00:08:24,040 --> 00:08:26,880 Speaker 1: second state in three days to take a step. Nearly 155 00:08:26,920 --> 00:08:29,600 Speaker 1: eight hundred cases have been reported in that state. He 156 00:08:29,720 --> 00:08:31,840 Speaker 1: says he'll continue to work with a feller government to 157 00:08:31,920 --> 00:08:36,520 Speaker 1: secure more vaccines, raise awareness about reducing risk, and stand 158 00:08:36,559 --> 00:08:40,800 Speaker 1: with the LGBT community fighting stigmatization. The move comes after 159 00:08:40,800 --> 00:08:43,800 Speaker 1: a similar declaration in New York State Saturday and in 160 00:08:43,880 --> 00:08:47,520 Speaker 1: San Francisco Thursday. John Tucker, Bloomberg Daybreak, John, Thank you, sir. 161 00:08:47,720 --> 00:08:51,480 Speaker 1: It is primary day in five states and Arizona. Voters 162 00:08:51,520 --> 00:08:55,160 Speaker 1: are choosing between candidates who say they wouldn't have certified 163 00:08:55,160 --> 00:08:58,520 Speaker 1: the results of the twenty campaign and those who argue 164 00:08:58,520 --> 00:09:01,880 Speaker 1: it's time to move on. Of the closely watched contests 165 00:09:01,880 --> 00:09:06,839 Speaker 1: include races for Michigan's governor and Missouri's senator. Voters into 166 00:09:06,920 --> 00:09:09,640 Speaker 1: Kansas will be the first to design on abortion rights 167 00:09:09,679 --> 00:09:12,559 Speaker 1: since the U. S. Supreme Court revoked Roe v. Wade. 168 00:09:12,920 --> 00:09:17,080 Speaker 1: Washington State also holds primaries. The Ukrainian troops have made 169 00:09:17,080 --> 00:09:20,840 Speaker 1: in roads into the Russian defenses and used US supplied 170 00:09:21,000 --> 00:09:25,199 Speaker 1: rocket launchers just trying bridges and military infrastructure in the South. 171 00:09:25,640 --> 00:09:28,840 Speaker 1: Moscow is diverting its forces from the Dundas region to 172 00:09:29,040 --> 00:09:32,120 Speaker 1: counter the new threat. Global News twenty four hours a 173 00:09:32,240 --> 00:09:35,480 Speaker 1: day on air and on Bloomberg Quicktake, powered by more 174 00:09:35,520 --> 00:09:38,320 Speaker 1: than twenty seven hundred journalists and analysts or more than 175 00:09:38,360 --> 00:09:41,920 Speaker 1: one hundred twenty countries. I'm Michael Blart, this Bloomberg Nathan. 176 00:09:41,920 --> 00:09:48,640 Speaker 1: Thank you Michael six o nine on Wall Street time 177 00:09:48,679 --> 00:09:51,840 Speaker 1: for the Bloomberg Sports Update. Here s thanks, Nathan. Has 178 00:09:51,880 --> 00:09:54,520 Speaker 1: been such a great baseball season New York through four months, 179 00:09:54,559 --> 00:09:57,720 Speaker 1: and both teams began offus with victories, the Yankee seven 180 00:09:57,800 --> 00:10:00,520 Speaker 1: to two, the Mets seven to three in Asha Kid. 181 00:10:00,520 --> 00:10:02,680 Speaker 1: They spetched their winning streak to seven the night after 182 00:10:02,800 --> 00:10:06,440 Speaker 1: nineteen hits thirteen more for by Brandon Nimo, home runs 183 00:10:06,440 --> 00:10:09,640 Speaker 1: for Pete Alonso and Francisco and door Toback Max Scherzer, 184 00:10:09,679 --> 00:10:11,800 Speaker 1: who beat his old team and proved his seven and two. 185 00:10:11,880 --> 00:10:14,520 Speaker 1: Mets fans have dreamt about the one two points of 186 00:10:14,640 --> 00:10:18,000 Speaker 1: Scherzer and Jacob to Graham the night after Sherzer on 187 00:10:18,040 --> 00:10:21,840 Speaker 1: the mound, It's de Graham tonight, making his long anticipated 188 00:10:21,880 --> 00:10:24,800 Speaker 1: season debuts. Excited. Um, you know, like you said, it's 189 00:10:24,800 --> 00:10:27,120 Speaker 1: been a long time. Um, you know, this has been 190 00:10:27,160 --> 00:10:30,760 Speaker 1: a pretty slow process of coming back. So um, excited 191 00:10:30,800 --> 00:10:33,200 Speaker 1: to be out there. Uh, nerves haven't really said in yet, 192 00:10:33,200 --> 00:10:35,880 Speaker 1: but you know, I'm sure Tuesday, I'll be pretty nervous. 193 00:10:35,880 --> 00:10:40,079 Speaker 1: And uh, I'm feeling it's gonna feel like my debut. Meanwhile, 194 00:10:40,120 --> 00:10:42,680 Speaker 1: at the stadium, familiar script for the Yankees. Four home runs. 195 00:10:42,720 --> 00:10:45,600 Speaker 1: Anthony Rizzo three run home over before the Mariners recorded 196 00:10:45,640 --> 00:10:48,800 Speaker 1: and out his twenty six and one aning later sharing 197 00:10:48,880 --> 00:10:52,040 Speaker 1: off Aaron Judge is forty three. Jose Trevino added two 198 00:10:52,040 --> 00:10:54,800 Speaker 1: solo shots. Domingo Herman got his first win. He may 199 00:10:54,840 --> 00:10:57,360 Speaker 1: be losing his spot on the rotation. Because the Yankees 200 00:10:57,679 --> 00:11:01,880 Speaker 1: before today's trade deadline acquired Rankey Montas from Oakland also 201 00:11:01,880 --> 00:11:04,679 Speaker 1: got leader Luke Rovino. They required another reliever, Scott E. 202 00:11:04,760 --> 00:11:07,600 Speaker 1: Frost from the Cubs. The arbitrator hired to rule on 203 00:11:07,600 --> 00:11:10,200 Speaker 1: de Shaun Watson game a six games suspension for his 204 00:11:10,280 --> 00:11:13,199 Speaker 1: sexualness conduct with the fuss, but under terms of the 205 00:11:13,280 --> 00:11:16,079 Speaker 1: labor deal, the NFL, who wanted a longer suspension can 206 00:11:16,120 --> 00:11:19,240 Speaker 1: appeal basically to themselves, and then can add more games, 207 00:11:19,240 --> 00:11:21,680 Speaker 1: which would lead to a lawsuit by the unions, though 208 00:11:21,679 --> 00:11:25,640 Speaker 1: the Watson stories likely not over. Yeah, johns Dash Bloomberg 209 00:11:25,640 --> 00:11:29,080 Speaker 1: sports all right, John, thank you. SMP futures down down 210 00:11:29,120 --> 00:11:31,640 Speaker 1: thirty one point, Style futures down a hundred sixty nine. 211 00:11:31,720 --> 00:11:34,840 Speaker 1: Nastack futures are lower by a hundred twenty eight points. 212 00:11:35,120 --> 00:11:38,080 Speaker 1: The Jackson Germany down eight tenths per cent. Cap in 213 00:11:38,120 --> 00:11:41,840 Speaker 1: Paris down six tenths percent. Tenure Treasury is up six 214 00:11:41,920 --> 00:11:44,600 Speaker 1: thirty seconds. The yield two point five five percent yield 215 00:11:44,640 --> 00:11:47,640 Speaker 1: on the two year two point eight five percent. Nime 216 00:11:47,760 --> 00:11:50,120 Speaker 1: X crew down nine tenths per cent, or eighty six 217 00:11:50,160 --> 00:11:52,960 Speaker 1: cents at ninety three dollars three cents of barrel with 218 00:11:53,040 --> 00:11:56,439 Speaker 1: Geo political risk taking the four this morning. We speak 219 00:11:56,520 --> 00:12:00,960 Speaker 1: next with Liz Anne Saunders, chief investment strategist at Charles Schwab. 220 00:12:01,160 --> 00:12:09,080 Speaker 1: This is Bloomberg Bloomberg eleven three oh weather, sunshine, maybe 221 00:12:09,080 --> 00:12:11,840 Speaker 1: a shower thundershower going up to near ninety today and 222 00:12:11,960 --> 00:12:15,000 Speaker 1: tomorrow when it will be sunny, sunny, hot, humid for 223 00:12:15,120 --> 00:12:18,240 Speaker 1: Thursday highs then your five right now seventy one in 224 00:12:18,240 --> 00:12:24,920 Speaker 1: Central Park markets, headlines and breaking news twenty four hours 225 00:12:24,920 --> 00:12:28,040 Speaker 1: a day at Bloomberg dot Com, Bloomberg Business Out, and 226 00:12:28,200 --> 00:12:37,599 Speaker 1: at Bloomberg Quicktape. Chris is a Bloomberg Business Flash and 227 00:12:37,720 --> 00:12:40,719 Speaker 1: I'm Karen Moscow socks and US stock index futures are 228 00:12:40,720 --> 00:12:43,840 Speaker 1: falling him at escalating US China tension over Taiwan and 229 00:12:43,880 --> 00:12:47,439 Speaker 1: deepening Rory's about a global economic slowdown driving investors into 230 00:12:47,480 --> 00:12:50,200 Speaker 1: the safety of government balls. We checked the markets every 231 00:12:50,200 --> 00:12:53,240 Speaker 1: fifteen minutes throughout the trading day on Bloomberg Guess and 232 00:12:53,280 --> 00:12:55,800 Speaker 1: p futures down thirty five points down, features down a 233 00:12:55,840 --> 00:12:59,000 Speaker 1: hundred ninety six and nastack futures down one thirty nine. 234 00:12:59,320 --> 00:13:02,400 Speaker 1: The Dacks in Germany is down about one percent. Ten 235 00:13:02,480 --> 00:13:05,040 Speaker 1: year treasury of ten thirty seconds, he'll two point five 236 00:13:05,040 --> 00:13:07,400 Speaker 1: three percent. That yell downe a two year two point 237 00:13:07,440 --> 00:13:10,560 Speaker 1: eight four percent. Nine Max Screwed oil is down one 238 00:13:10,600 --> 00:13:13,080 Speaker 1: point two percent on a dollar eleven at ninety two 239 00:13:13,120 --> 00:13:15,880 Speaker 1: dollars seventy eight cents of barrel comic schooled up three 240 00:13:15,880 --> 00:13:18,520 Speaker 1: tenth percent or four dollars ninety cents. A seventeen ninety 241 00:13:18,559 --> 00:13:21,960 Speaker 1: two sixty announced the euro one point two three six 242 00:13:22,000 --> 00:13:24,280 Speaker 1: against the dollar. British found one point to two oh 243 00:13:24,360 --> 00:13:27,880 Speaker 1: nine and again one thirty point nine zero. I'm looking 244 00:13:27,880 --> 00:13:30,480 Speaker 1: at bitcoin this morning, down one and a half percent 245 00:13:30,559 --> 00:13:33,559 Speaker 1: at twenty two thousand and seven hundred seventy five dollars. 246 00:13:33,800 --> 00:13:35,840 Speaker 1: Today we are watching for the jolts and jobs report 247 00:13:35,880 --> 00:13:38,000 Speaker 1: at a ten o'clock Wall Street time, and that's a 248 00:13:38,000 --> 00:13:40,800 Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on 249 00:13:40,880 --> 00:13:43,240 Speaker 1: what's going on around in the world. Michael Karen, thank 250 00:13:43,280 --> 00:13:45,920 Speaker 1: you very much. President Jill Biden has announced that al 251 00:13:46,040 --> 00:13:49,080 Speaker 1: kind of leader I'm in als Wharre has been killed 252 00:13:49,120 --> 00:13:51,839 Speaker 1: in a U. S drone strike and cobble during an 253 00:13:51,840 --> 00:13:55,600 Speaker 1: evening address. Biden is hailing the operation as delivering justice 254 00:13:56,040 --> 00:13:59,400 Speaker 1: while expressing hope that it brings one more measure of closure. 255 00:13:59,440 --> 00:14:02,200 Speaker 1: It's a family are the victims of the nine eleven attacks. 256 00:14:02,600 --> 00:14:05,880 Speaker 1: How Speaker Nancy Pelosi is expected to land in Taiwan 257 00:14:06,000 --> 00:14:09,719 Speaker 1: today and defiance of Chinese threats, The trip would make 258 00:14:09,760 --> 00:14:14,000 Speaker 1: Pelosi the highest ranking American politician to visit the island 259 00:14:14,080 --> 00:14:17,160 Speaker 1: in twenty five years in baseball. The Yankees beat the 260 00:14:17,160 --> 00:14:20,560 Speaker 1: Mariners seven two, the Mets beat the national seven three. 261 00:14:20,880 --> 00:14:24,000 Speaker 1: The Red Sox and Orioles were also winners. The Giants 262 00:14:24,120 --> 00:14:27,080 Speaker 1: lost to the Dodgers eight to Global News twenty four 263 00:14:27,120 --> 00:14:30,440 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 264 00:14:30,440 --> 00:14:33,440 Speaker 1: by more than twenty seven under journalist and analysts and 265 00:14:33,520 --> 00:14:35,760 Speaker 1: more than a hundred twenty countries. I'm Michael bar This 266 00:14:35,800 --> 00:14:37,880 Speaker 1: is Bloomberg. Nathan all right, Michael, thank you. It's six 267 00:14:38,000 --> 00:14:41,440 Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. 268 00:14:41,480 --> 00:14:44,400 Speaker 1: This is a Bloomberg Daybreak on a risk off morning. 269 00:14:44,400 --> 00:14:47,720 Speaker 1: We are joined by liz Anne Saunders, chief investment strategist 270 00:14:47,760 --> 00:14:50,160 Speaker 1: at Charles Schwab. Liz An, it's really nice to have 271 00:14:50,200 --> 00:14:52,640 Speaker 1: you back on the show with us. I'm really curious 272 00:14:52,640 --> 00:14:54,800 Speaker 1: what you make of this market reaction, where it does 273 00:14:54,840 --> 00:14:58,120 Speaker 1: seem as though geopolitical risk is getting the attention of 274 00:14:58,120 --> 00:15:01,960 Speaker 1: investors this morning. It is the extent you point to 275 00:15:02,080 --> 00:15:05,360 Speaker 1: one particular thing for a pre open move in the market. 276 00:15:05,360 --> 00:15:07,560 Speaker 1: There's obviously always lots of forces, and I think the 277 00:15:07,600 --> 00:15:12,120 Speaker 1: markets strength suggests that there might be um some investors 278 00:15:12,120 --> 00:15:15,560 Speaker 1: looking for excuses to take some profits. So some of 279 00:15:15,600 --> 00:15:18,120 Speaker 1: it has to do with just the nature of this 280 00:15:18,360 --> 00:15:21,520 Speaker 1: rally and and now having I think a reason to 281 00:15:21,720 --> 00:15:25,280 Speaker 1: trim and that's somewhat typical in these bear market rallies. Okay, 282 00:15:25,280 --> 00:15:28,040 Speaker 1: so do you see further momentum then for the bear 283 00:15:28,120 --> 00:15:32,360 Speaker 1: market rally beyond what's happening this morning. I think we 284 00:15:32,960 --> 00:15:36,040 Speaker 1: have the strong likelihood that we continue to see some 285 00:15:36,120 --> 00:15:38,400 Speaker 1: of these rallies. We've had several of them since the 286 00:15:38,400 --> 00:15:42,040 Speaker 1: bear market began. This one has had some improvement in 287 00:15:42,120 --> 00:15:45,160 Speaker 1: breath statistics, but you still have a very anemic percent 288 00:15:45,240 --> 00:15:48,920 Speaker 1: of stocks that have moved to new highs, and you 289 00:15:48,920 --> 00:15:52,480 Speaker 1: would expect to see a bit more of a burst there. Typically, 290 00:15:53,160 --> 00:15:57,480 Speaker 1: I think the market has largely priced in the tighter 291 00:15:57,480 --> 00:16:01,680 Speaker 1: financial conditions environment, maybe even the slowing in economic growth. 292 00:16:01,840 --> 00:16:04,320 Speaker 1: But what I don't think the market is yet priceton 293 00:16:04,840 --> 00:16:08,400 Speaker 1: is what is likely coming in terms of weakening employment 294 00:16:08,440 --> 00:16:13,280 Speaker 1: backdrop and a weaker earnings and profit margin backdrop, which 295 00:16:13,320 --> 00:16:16,160 Speaker 1: hasn't shown up in earnest in second quarter, but I 296 00:16:16,200 --> 00:16:19,520 Speaker 1: think we'll start to be reflected in estimates looking at 297 00:16:19,560 --> 00:16:21,960 Speaker 1: the rest of the year. Interesting that sort of leads 298 00:16:22,040 --> 00:16:25,120 Speaker 1: us to what we could get from the jobs report 299 00:16:25,200 --> 00:16:28,200 Speaker 1: coming out this Friday. What are your expectations there? Do 300 00:16:28,240 --> 00:16:30,640 Speaker 1: you think we'll start to see some signs of weakness 301 00:16:30,680 --> 00:16:35,440 Speaker 1: in the labor market. So expectation is is in the 302 00:16:35,520 --> 00:16:38,600 Speaker 1: two hundred and fifty or so range, and that's down 303 00:16:38,640 --> 00:16:41,440 Speaker 1: from the high three hundreds from last month, so that 304 00:16:41,480 --> 00:16:47,000 Speaker 1: would continue to market deceleration. And I think the the 305 00:16:47,120 --> 00:16:52,520 Speaker 1: sort of innards of the job's report will be increasingly important, 306 00:16:52,960 --> 00:16:57,600 Speaker 1: everything from hours worked, the differential between the payroll survey 307 00:16:57,600 --> 00:17:01,720 Speaker 1: and the household survey that was dark last month when 308 00:17:01,760 --> 00:17:05,440 Speaker 1: we saw the better unexpected payrolls but negative household and 309 00:17:06,160 --> 00:17:07,800 Speaker 1: the two out of the last three months for the 310 00:17:07,840 --> 00:17:11,560 Speaker 1: household survey from which the unemployment rate is calculated were negative. 311 00:17:11,600 --> 00:17:13,520 Speaker 1: And the only reason why the unemployment rate didn't go 312 00:17:13,600 --> 00:17:16,280 Speaker 1: up is because we saw a week or labor force 313 00:17:16,359 --> 00:17:19,879 Speaker 1: participation rates. So I think it's beyond just the headlines 314 00:17:19,960 --> 00:17:22,720 Speaker 1: of how many jobs were created, what is the unemployment rate, 315 00:17:23,200 --> 00:17:24,960 Speaker 1: but the inner workings of what's going on in the 316 00:17:25,040 --> 00:17:27,880 Speaker 1: labor market, And of course preceding that on Thursday will 317 00:17:27,960 --> 00:17:31,480 Speaker 1: be claims, and unemployment claims are now up by a 318 00:17:31,480 --> 00:17:34,240 Speaker 1: percentage amount from the trough that is well beyond the 319 00:17:34,320 --> 00:17:39,600 Speaker 1: average for recessions historically. So yes, labor market that is important, 320 00:17:39,640 --> 00:17:41,639 Speaker 1: but you got to go beyond the headlines. Now, we 321 00:17:41,720 --> 00:17:44,879 Speaker 1: got further signs of economic slowdown just this week from 322 00:17:44,920 --> 00:17:48,000 Speaker 1: the I s M Manufacturing Index. Is the FEDS starting 323 00:17:48,040 --> 00:17:51,439 Speaker 1: to get the reduction in economic activity that it's looking 324 00:17:51,520 --> 00:17:56,359 Speaker 1: for from aggressive policy? Yes, But as as Powell and 325 00:17:56,400 --> 00:17:59,800 Speaker 1: many other Fed speakers have said, in terms of the 326 00:18:00,040 --> 00:18:04,240 Speaker 1: actual inflation data, whether it's PC, whether it's cp I, 327 00:18:04,320 --> 00:18:07,880 Speaker 1: they want to see a series of lower readings. So yeah, 328 00:18:08,359 --> 00:18:11,639 Speaker 1: the leading indicators, including what was embedded in the I 329 00:18:11,880 --> 00:18:13,960 Speaker 1: s M data that came out yesterday with the big 330 00:18:14,040 --> 00:18:16,960 Speaker 1: drop and prices paid the big drop, and supplier deliveries. 331 00:18:17,280 --> 00:18:19,640 Speaker 1: I put a chart out on Twitter today of shipping 332 00:18:19,800 --> 00:18:24,040 Speaker 1: rates from Shanghai to Los Angeles. All suggests we're going 333 00:18:24,119 --> 00:18:27,480 Speaker 1: to start to see an easing and inflation. But given 334 00:18:27,480 --> 00:18:31,280 Speaker 1: their emphasis on series, um, I don't think that this 335 00:18:31,400 --> 00:18:33,960 Speaker 1: is a one time deal. Where as soon as you 336 00:18:34,040 --> 00:18:38,000 Speaker 1: see the peak is in on on headline CPI or 337 00:18:38,000 --> 00:18:40,520 Speaker 1: any other measure, that they're going to feel the ability 338 00:18:40,560 --> 00:18:43,240 Speaker 1: to kind of take their foot off the break. And 339 00:18:43,320 --> 00:18:46,199 Speaker 1: I think that may be what the market might be 340 00:18:46,280 --> 00:18:48,840 Speaker 1: having a bit wrong. Is this assumption that we're going 341 00:18:48,880 --> 00:18:51,400 Speaker 1: to sooner rather than later get a FED pivot, get 342 00:18:51,480 --> 00:18:54,120 Speaker 1: some sort of FED put um. I think that may 343 00:18:54,160 --> 00:18:57,240 Speaker 1: be a bit too optimistic an assumption. Only about thirty 344 00:18:57,280 --> 00:18:59,440 Speaker 1: seconds left here, Liz. And just to bring it back 345 00:18:59,440 --> 00:19:01,960 Speaker 1: to g O politics, if we do have these rising 346 00:19:02,000 --> 00:19:05,159 Speaker 1: tensions between the US and China, does that have implications 347 00:19:05,160 --> 00:19:09,040 Speaker 1: for a global slowdown? Um? I think it has more 348 00:19:09,080 --> 00:19:13,439 Speaker 1: implications for just the sentiment environment, which has been pretty 349 00:19:13,480 --> 00:19:20,000 Speaker 1: touchy anyway, Things like your policy uncertainty index probably moves 350 00:19:20,080 --> 00:19:23,520 Speaker 1: back higher. So I think it just adds to the mix, 351 00:19:23,600 --> 00:19:26,399 Speaker 1: even if it's not an immediate direct impact on the 352 00:19:26,400 --> 00:19:29,359 Speaker 1: global economy. Thanks so much, Lizien, again, great having you 353 00:19:29,400 --> 00:19:32,760 Speaker 1: with us this morning. Liz Ane Saunders, chief investment strategist 354 00:19:32,800 --> 00:19:36,080 Speaker 1: at Charles Schwab. Right now, SMP futures are lower by 355 00:19:36,119 --> 00:19:39,520 Speaker 1: thirty three points, down futures down eight, and NASDAC futures 356 00:19:39,520 --> 00:19:42,600 Speaker 1: down a hundred thirty five points. The tenure Treasury is 357 00:19:42,680 --> 00:19:45,040 Speaker 1: up nine thirty seconds now with the yield two point 358 00:19:45,080 --> 00:19:47,879 Speaker 1: five three percent. The yield on the two year two 359 00:19:47,880 --> 00:19:51,080 Speaker 1: point eight five NIME ex scrudes down one percent or 360 00:19:51,119 --> 00:19:54,679 Speaker 1: ninety seven cents ninety two dollars two cents a barrel, 361 00:19:54,800 --> 00:19:57,359 Speaker 1: just to head more on the market reaction to speaker 362 00:19:57,359 --> 00:20:01,359 Speaker 1: Pelosi's Asia trip, and Twitter goes that elon Musk's Inner Circle. 363 00:20:01,520 --> 00:20:03,720 Speaker 1: Five Things you need to notice start your day on 364 00:20:03,800 --> 00:20:09,320 Speaker 1: Bloomberg day Break Bloomberg eleven three oh weather sunshine, maybe 365 00:20:09,320 --> 00:20:11,960 Speaker 1: a shower of thundershower today with a high near ninety degrees, 366 00:20:12,040 --> 00:20:15,920 Speaker 1: mostly sunny, near ninety Tomorrow, sunny, hot, humid Thursday with 367 00:20:15,960 --> 00:20:18,679 Speaker 1: a high then near nine right now seventy one in 368 00:20:18,760 --> 00:20:25,840 Speaker 1: Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio 369 00:20:25,920 --> 00:20:29,119 Speaker 1: in New York. Bloomberg Living Free to Washington, d C, 370 00:20:29,320 --> 00:20:33,000 Speaker 1: Bloomberg N one to Boston, Bloomberg one oh six one 371 00:20:33,119 --> 00:20:36,560 Speaker 1: to San Francisco, Bloomberg N sixty to the country, Sirius 372 00:20:36,720 --> 00:20:39,879 Speaker 1: XM Cho one nine and around the globe the Bloomberg 373 00:20:39,920 --> 00:20:44,360 Speaker 1: business in Bloomberg Radio dot Com. This is Bloomberg Daybreak, 374 00:20:50,200 --> 00:20:52,520 Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hager 375 00:20:52,840 --> 00:20:55,439 Speaker 1: and I'm Karen Moscow. We are just about three hours 376 00:20:55,480 --> 00:20:57,600 Speaker 1: away from the open of US trading. Time for the 377 00:20:57,600 --> 00:20:59,720 Speaker 1: five things that you need to notice start your day. 378 00:21:00,040 --> 00:21:03,920 Speaker 1: Brought to you by Interactive Brokers. Interactive Brokers Global Analysts 379 00:21:03,960 --> 00:21:07,440 Speaker 1: helps you find you global investment opportunities. To diversify your 380 00:21:07,520 --> 00:21:11,360 Speaker 1: portfolio and discover undervalued companies that may have greater growth potential. 381 00:21:11,640 --> 00:21:14,720 Speaker 1: Try ivy Care Global Analyst today at ib care dot 382 00:21:14,720 --> 00:21:18,879 Speaker 1: com slash g a up first. President Biden addressed the 383 00:21:19,000 --> 00:21:22,280 Speaker 1: nation last night, saying a US drown strike in Afghanistan 384 00:21:22,400 --> 00:21:25,480 Speaker 1: killed Al Kinda leader i'm An al Zawari, one of 385 00:21:25,520 --> 00:21:28,359 Speaker 1: the planners of the nine eleven attacks. The President thanked 386 00:21:28,400 --> 00:21:31,840 Speaker 1: experts and operatives who brought justice to al Zawari is 387 00:21:31,880 --> 00:21:35,960 Speaker 1: thanks to their extraordinary persistence of skill that this operation 388 00:21:36,000 --> 00:21:39,720 Speaker 1: was success. They made its all safer. And President Biden 389 00:21:39,800 --> 00:21:42,240 Speaker 1: said he authorized this strike and that there were no 390 00:21:42,359 --> 00:21:46,200 Speaker 1: civilian casualties. And we're also closely following. Nancy Pelosi is 391 00:21:46,200 --> 00:21:48,920 Speaker 1: expected to visit to Taiwan this morning care and China 392 00:21:49,080 --> 00:21:51,520 Speaker 1: is threatening military action over it, but the House Speaker 393 00:21:51,600 --> 00:21:54,359 Speaker 1: should make the trip safely. That's according to US National 394 00:21:54,400 --> 00:21:58,000 Speaker 1: Security Council spokesperson John Kirby. We have indications that the 395 00:21:58,080 --> 00:22:01,960 Speaker 1: Chinese might take some actions in a military way to 396 00:22:02,080 --> 00:22:05,399 Speaker 1: protest a trip by the Speaker. What I wanted to 397 00:22:05,440 --> 00:22:07,760 Speaker 1: make clear today was that we are going to make 398 00:22:07,800 --> 00:22:10,280 Speaker 1: sure that if the Speaker decides to go to Taiwan, 399 00:22:10,440 --> 00:22:12,800 Speaker 1: she can do so safely. John Kirby with the National 400 00:22:12,800 --> 00:22:15,760 Speaker 1: Security Council spoke with our Washington correspondent Joe Matthew and 401 00:22:15,760 --> 00:22:19,160 Speaker 1: the escalating tensions between the US and China are affecting markets. 402 00:22:19,160 --> 00:22:22,760 Speaker 1: Futures are lower, Asian stocks fell overnight. Anthon turning to 403 00:22:22,880 --> 00:22:26,040 Speaker 1: corporate news now, legal moves are heating up in Twitter's 404 00:22:26,040 --> 00:22:29,040 Speaker 1: case against Elon Musk and Bloombergh, Ddy Young joints US 405 00:22:29,080 --> 00:22:31,640 Speaker 1: Live with the latest Good Morning Ready to Good Morning Care, 406 00:22:31,720 --> 00:22:35,439 Speaker 1: and Twitter is probing the social circle of Elon Musk. Literally, 407 00:22:35,560 --> 00:22:38,920 Speaker 1: lawyers are making far reaching legal requests about his forty 408 00:22:38,960 --> 00:22:42,200 Speaker 1: four billion dollar deal to take Twitter private. That's according 409 00:22:42,240 --> 00:22:46,080 Speaker 1: to legal documents obtained by The Washington Post. Twitter's legal 410 00:22:46,119 --> 00:22:50,160 Speaker 1: team asked for information about Silicon Valley investors, including David 411 00:22:50,200 --> 00:22:53,040 Speaker 1: Sas and Mark Entreeson, and since some of the heavy 412 00:22:53,119 --> 00:22:55,920 Speaker 1: hitters have not been named in the deal publicly, it 413 00:22:56,040 --> 00:22:59,080 Speaker 1: suggests just how far Twitter is willing to go to 414 00:22:59,200 --> 00:23:02,200 Speaker 1: force Elon us to honor the deal. Twitter is also 415 00:23:02,280 --> 00:23:05,600 Speaker 1: probing Morgan Stanley, Bank of America and other banks that 416 00:23:05,680 --> 00:23:09,160 Speaker 1: committed to backing the acquisition. Live in New York, I'm 417 00:23:09,160 --> 00:23:11,920 Speaker 1: renned a young Bloomberg daybreak, thanks Anina. More than forty 418 00:23:11,920 --> 00:23:15,720 Speaker 1: companies report earnings today, including Uber and Starbucks. Pinterests who 419 00:23:15,720 --> 00:23:19,360 Speaker 1: shares are surging nearly twenty despite results that missed estimates. 420 00:23:19,440 --> 00:23:23,320 Speaker 1: Elliott Investment Management confirmed its steak as the company's top shareholder. 421 00:23:24,000 --> 00:23:26,520 Speaker 1: And Nathan, we just heard from Caterpillar at second quarter 422 00:23:26,600 --> 00:23:30,159 Speaker 1: revenue just missing analysts estimates cessify. Things you need to 423 00:23:30,200 --> 00:23:33,240 Speaker 1: notice start your day. Brought to you by interacted brokers, 424 00:23:33,320 --> 00:23:39,640 Speaker 1: local News, straight Ahead, Thank you, Caring six thirty three 425 00:23:39,640 --> 00:23:42,440 Speaker 1: on Wall Street where it's seventy two degrees in Central 426 00:23:42,480 --> 00:23:45,159 Speaker 1: Park got an accident on the northbound Garden State Parkway. 427 00:23:45,160 --> 00:23:46,960 Speaker 1: Eggs at one thirty five will tell you more in 428 00:23:47,000 --> 00:23:49,760 Speaker 1: traffic shortly First, Michael Barr has what else is going 429 00:23:49,800 --> 00:23:51,720 Speaker 1: on in New York and around the world. Michael, thank 430 00:23:51,720 --> 00:23:54,200 Speaker 1: you very much, Nathan. New York City Mayor Eric Adams 431 00:23:54,200 --> 00:23:58,520 Speaker 1: defended his city's response to monkey pox. Adams declared a 432 00:23:58,560 --> 00:24:01,160 Speaker 1: state of emergency over the buyer US When asked whether 433 00:24:01,240 --> 00:24:04,840 Speaker 1: the city quote dropped the ball in its response, Adam says, 434 00:24:04,880 --> 00:24:09,200 Speaker 1: the city is simultaneously dealing with multiple issues. We're moving 435 00:24:09,240 --> 00:24:14,040 Speaker 1: together of still getting people vaccinated for COVID and still 436 00:24:14,359 --> 00:24:18,440 Speaker 1: dealing with the monkey pocks that's coming in. Meanwhile, California, 437 00:24:18,480 --> 00:24:20,960 Speaker 1: as governor, has declared a state of emergency to combat 438 00:24:21,040 --> 00:24:24,000 Speaker 1: the monkey pocks. I'll break more in this live report 439 00:24:24,000 --> 00:24:27,399 Speaker 1: from Bloomberg's John Tucker John Michael. Nearly eight hundred cases 440 00:24:27,400 --> 00:24:30,359 Speaker 1: of monkey pox have been reported in California. People getting 441 00:24:30,359 --> 00:24:32,560 Speaker 1: six so far have mainly been men who have sex 442 00:24:32,640 --> 00:24:35,320 Speaker 1: with men, though health officials note that the virus can 443 00:24:35,359 --> 00:24:39,639 Speaker 1: infect anyone. California joins Illinois and New York and announcing 444 00:24:39,640 --> 00:24:44,600 Speaker 1: the emergency was should bolster vaccination status change means emergency 445 00:24:44,680 --> 00:24:48,679 Speaker 1: medical services personnel canal administer monkey pox shots, similar to 446 00:24:48,720 --> 00:24:52,400 Speaker 1: the authorization recently enacted for pharmacists line to New York. 447 00:24:52,440 --> 00:24:55,159 Speaker 1: I'm John Tucker, Bloomberg Daybreak. Thank you very much. John. 448 00:24:55,200 --> 00:24:59,000 Speaker 1: It is primary election day today in five states. In Kansas, 449 00:24:59,000 --> 00:25:02,440 Speaker 1: abortion is on the outot, the voters deciding whether residents 450 00:25:02,440 --> 00:25:04,840 Speaker 1: should continue to have the right to an abortion under 451 00:25:04,840 --> 00:25:09,560 Speaker 1: the state constitution. Pro choice, canvass or Jackie Clapper, whatever 452 00:25:09,640 --> 00:25:13,280 Speaker 1: your views are on what do you believe restrictions or 453 00:25:13,280 --> 00:25:16,160 Speaker 1: no restrictions or whatever. It's just women should be able 454 00:25:16,200 --> 00:25:19,040 Speaker 1: to make that choice for themselves. However, this man supports 455 00:25:19,040 --> 00:25:22,000 Speaker 1: amending the Constitution taking away the right to an abortion. 456 00:25:22,480 --> 00:25:25,879 Speaker 1: This isn't about abortion. It is about how do we 457 00:25:26,000 --> 00:25:29,919 Speaker 1: want decisions made by a board of liberal judges with 458 00:25:30,080 --> 00:25:35,440 Speaker 1: no input from the citizens of the state of Kansas. Michigan, Arizona, Missouri, 459 00:25:35,520 --> 00:25:39,320 Speaker 1: and Washington State also hold primaries. New Jersey Governor Phil 460 00:25:39,400 --> 00:25:44,080 Speaker 1: Murphy says the Jersey City councilwoman displayed unacceptable behavior when 461 00:25:44,119 --> 00:25:47,159 Speaker 1: she struck a bicyclist with her car and left the scene. 462 00:25:47,560 --> 00:25:50,560 Speaker 1: Murphy stopped short of calling for her resignation, as some 463 00:25:50,720 --> 00:25:54,639 Speaker 1: have demanded. Traffic cam video of the July nineteenth incident 464 00:25:54,720 --> 00:25:58,280 Speaker 1: shows a car driven by councilwoman Amy de Guise striking 465 00:25:58,320 --> 00:26:01,080 Speaker 1: food delivery man Andrew Bly as he rode through a 466 00:26:01,160 --> 00:26:04,920 Speaker 1: red light. Black suffered cuts in an ankle injury. Capital 467 00:26:05,040 --> 00:26:07,960 Speaker 1: rioter Guy Refford was sentenced to spend more than seven 468 00:26:08,040 --> 00:26:11,280 Speaker 1: years behind bars, the longest sentence yet. In the January 469 00:26:11,359 --> 00:26:14,800 Speaker 1: sixth case, Reford was convicted for obstructing Congress, among other crimes. 470 00:26:15,119 --> 00:26:17,320 Speaker 1: Global Name was twenty four hours a day on air 471 00:26:17,440 --> 00:26:20,280 Speaker 1: and all Bloomberg Quick Take, powered by more than twenty 472 00:26:20,400 --> 00:26:22,760 Speaker 1: seven hundred journalists and analysts in more than a hundred 473 00:26:22,800 --> 00:26:26,119 Speaker 1: twenty countries. I'm Michael bar this is Bloomberg Naved. Thank you, Michael. 474 00:26:30,720 --> 00:26:33,199 Speaker 1: Almost sixty six on Wall Street. John stash Hour has 475 00:26:33,240 --> 00:26:35,399 Speaker 1: the Bloomberg Sports Update. All right, Nathan, A lot of 476 00:26:35,440 --> 00:26:38,600 Speaker 1: happy Mets fans. Seven game winnings, drink and Jacob de 477 00:26:38,720 --> 00:26:41,760 Speaker 1: Graham on the Mount Tonight Mets in Washington led four 478 00:26:41,800 --> 00:26:44,560 Speaker 1: to three, put the game away six eight two old. 479 00:26:44,720 --> 00:26:46,960 Speaker 1: Here's a drive in here, teth to left center. This 480 00:26:47,080 --> 00:26:52,520 Speaker 1: one stock flats. If my go and it's gone up 481 00:26:52,600 --> 00:26:56,840 Speaker 1: center field. A free run homer to the opposite fail 482 00:26:56,960 --> 00:27:00,640 Speaker 1: hit five Francisco a door. It's just eight home run 483 00:27:00,680 --> 00:27:03,560 Speaker 1: of the year. He is now a privitive seven three 484 00:27:03,640 --> 00:27:06,200 Speaker 1: room CBS to call seven three of the final Max 485 00:27:06,200 --> 00:27:08,680 Speaker 1: schers who got the way. Patrick Corbin took the loss, 486 00:27:08,720 --> 00:27:11,600 Speaker 1: his fifteenth loss of the season, and now it's de 487 00:27:11,760 --> 00:27:15,200 Speaker 1: gram baseball's best picture, but so often injured. His first 488 00:27:15,200 --> 00:27:18,159 Speaker 1: Met start in more than a year, Juan Soto homeward 489 00:27:18,160 --> 00:27:20,040 Speaker 1: officers or in what may have been his last game 490 00:27:20,080 --> 00:27:23,280 Speaker 1: with the Nationals. Trade deadline six o'clock. Yankee busy the 491 00:27:23,359 --> 00:27:26,840 Speaker 1: day before, they acquired three pitchers. A starter Frankie Mantas 492 00:27:26,920 --> 00:27:29,679 Speaker 1: comes from Oakland with the leiver Blue Blue Trevino. They 493 00:27:29,680 --> 00:27:32,040 Speaker 1: also added the leaver Scott Ecross from the Cubs, and 494 00:27:32,040 --> 00:27:34,359 Speaker 1: then the Yanks pete Seattle seven to two at the 495 00:27:34,359 --> 00:27:36,760 Speaker 1: State of second. Three run homers many days for Anthony 496 00:27:36,840 --> 00:27:39,800 Speaker 1: Rizzo came first inning his twenty six and inning later. 497 00:27:40,119 --> 00:27:43,320 Speaker 1: Two run shot for Aaron Judge continues his tourrid pace. 498 00:27:43,800 --> 00:27:46,920 Speaker 1: His forty three homer ten in the last eleven games. 499 00:27:47,200 --> 00:27:49,879 Speaker 1: Two solo shots for Jose Trevino. The Astros trying to 500 00:27:49,920 --> 00:27:52,720 Speaker 1: catch the Yankees. They lost. The Red Sox usedon acquired 501 00:27:52,760 --> 00:27:55,560 Speaker 1: catcher Christian Vascus from Boston and first base from trade 502 00:27:55,600 --> 00:27:59,399 Speaker 1: Mancini from Baltimore. The NBA is investigating whether the Knicks 503 00:27:59,440 --> 00:28:02,200 Speaker 1: tampered and they're signing a free agent Jayal and Bronson. 504 00:28:02,240 --> 00:28:05,280 Speaker 1: Greg Norman runs the New Live Tour. He told Fox 505 00:28:05,320 --> 00:28:08,680 Speaker 1: News they offered Tiger what's about seven fifty million dollars. 506 00:28:09,119 --> 00:28:11,879 Speaker 1: He said, no, John should I wear bloom Bird Sports. 507 00:28:11,960 --> 00:28:14,400 Speaker 1: Nathan all right, John, thank you to six thirty seven 508 00:28:14,400 --> 00:28:16,040 Speaker 1: on Wall Street. Time to take a look at stocks, 509 00:28:16,080 --> 00:28:17,919 Speaker 1: some of the names moving in the pre market with 510 00:28:17,920 --> 00:28:21,360 Speaker 1: Bloomberg Radio and TV markets correspondent Pretty Gupta looking under 511 00:28:21,400 --> 00:28:24,040 Speaker 1: the hood of the geopolitical risk that has markets focused 512 00:28:24,080 --> 00:28:26,359 Speaker 1: this morning cretty well. Of course everyone's talking about Nancy 513 00:28:26,359 --> 00:28:28,760 Speaker 1: Pelosi and the visits to Taiwan. She is due to 514 00:28:29,000 --> 00:28:31,600 Speaker 1: land there. I believe in a couple of hours. There 515 00:28:31,760 --> 00:28:33,560 Speaker 1: is a little bit of a stock right through here. 516 00:28:33,600 --> 00:28:35,280 Speaker 1: Now you do a futures lowers. A lot of this 517 00:28:35,359 --> 00:28:37,720 Speaker 1: is coming from geopolitical tensions, and once again, Nathan just 518 00:28:37,760 --> 00:28:40,360 Speaker 1: feels like deja vu from the trade war. Honestly, right 519 00:28:40,600 --> 00:28:42,560 Speaker 1: underneath the hood, you're also seeing a lot of this 520 00:28:42,680 --> 00:28:45,080 Speaker 1: concentrated in the same names that were affected by the 521 00:28:45,080 --> 00:28:46,640 Speaker 1: trade ward. Take a look at some of these Chinese 522 00:28:46,600 --> 00:28:48,880 Speaker 1: A d rs. For example, Ali Baba b A b 523 00:28:49,040 --> 00:28:52,880 Speaker 1: A shares around three point four percent in the pre markets. 524 00:28:52,880 --> 00:28:54,600 Speaker 1: The similar story when you look at the likes of 525 00:28:54,640 --> 00:28:57,160 Speaker 1: bide You for example b I d You as your taker, 526 00:28:57,200 --> 00:28:59,760 Speaker 1: also down three percent. But really at the core of 527 00:28:59,800 --> 00:29:02,520 Speaker 1: the shoe when it comes to Taiwan is semiconductors, it's 528 00:29:02,600 --> 00:29:05,440 Speaker 1: chips production, and specifically when you have the United States 529 00:29:05,440 --> 00:29:09,120 Speaker 1: that has recently packed two major acts within Congress. The 530 00:29:09,120 --> 00:29:11,640 Speaker 1: first is a fifty two billion dollar grant for a 531 00:29:11,640 --> 00:29:13,800 Speaker 1: lot of these chip companies to start production within the 532 00:29:13,840 --> 00:29:16,320 Speaker 1: United States and then a fifty two billion over five 533 00:29:16,360 --> 00:29:18,160 Speaker 1: years by the way, which is still a very very 534 00:29:18,200 --> 00:29:21,080 Speaker 1: small part of the industry. And then you have also 535 00:29:21,160 --> 00:29:24,480 Speaker 1: these other um kind of order from the U S. 536 00:29:24,520 --> 00:29:26,600 Speaker 1: Commerce space thing that Intel and the likes they can't 537 00:29:26,600 --> 00:29:29,880 Speaker 1: actually expand their fab capacity over in China, so that 538 00:29:29,960 --> 00:29:32,400 Speaker 1: of course is a double whammy. First, stocks like Intel 539 00:29:32,440 --> 00:29:35,360 Speaker 1: for example, i n tcs R ticker down one point 540 00:29:35,440 --> 00:29:38,160 Speaker 1: three and Intel really just having a bad day, Nathan, 541 00:29:38,200 --> 00:29:40,400 Speaker 1: because on top of that they also got cut to 542 00:29:40,440 --> 00:29:44,480 Speaker 1: negative by SNP and downgraded to sell over at DZ Bank. 543 00:29:44,600 --> 00:29:47,600 Speaker 1: So there's a lot happening with the chip space at them. Yeah, 544 00:29:47,600 --> 00:29:51,920 Speaker 1: it's a multi varied uh US China tension story here. 545 00:29:51,960 --> 00:29:55,520 Speaker 1: But we're also getting earnings just this morning, and wonder 546 00:29:55,560 --> 00:29:57,520 Speaker 1: if that will sort of bring the focus back to 547 00:29:57,680 --> 00:30:01,240 Speaker 1: the economic slowdown story. You know, it's like socks just 548 00:30:01,240 --> 00:30:04,160 Speaker 1: won't get a break. Well, there Caterpillar is the one 549 00:30:04,200 --> 00:30:05,320 Speaker 1: that you want to keep your eye on. Of course, 550 00:30:05,320 --> 00:30:07,880 Speaker 1: we look at the stock as a global proxy, as 551 00:30:07,920 --> 00:30:10,480 Speaker 1: global bell Weather, especially when it comes to Chinese demand. 552 00:30:10,520 --> 00:30:12,640 Speaker 1: By the way, I would separate it from the Nancy 553 00:30:12,640 --> 00:30:15,800 Speaker 1: Pelosi story, but this really is a story of of investing, 554 00:30:15,840 --> 00:30:17,920 Speaker 1: of growth, and specifically the property slowed down in the 555 00:30:17,960 --> 00:30:20,440 Speaker 1: United States, c A excuse me, in China and c 556 00:30:20,680 --> 00:30:22,960 Speaker 1: A T is your ticker down about four tenths of 557 00:30:23,160 --> 00:30:24,800 Speaker 1: one per cent. And if you look at some of 558 00:30:24,840 --> 00:30:27,880 Speaker 1: these numbers, Nathan, the revenue came in well, I want 559 00:30:27,880 --> 00:30:29,720 Speaker 1: I don't want to say it was a massive miss, 560 00:30:29,760 --> 00:30:31,040 Speaker 1: but it was a miss. At the end of the day, 561 00:30:31,080 --> 00:30:34,120 Speaker 1: the second quarter revenue fourteen point to five billion relative 562 00:30:34,160 --> 00:30:36,920 Speaker 1: to fourteen point three seven billion. They are citing favorable 563 00:30:36,920 --> 00:30:39,760 Speaker 1: price realization to higher sales volume. But that's pretty much it. 564 00:30:39,800 --> 00:30:42,080 Speaker 1: I'm gonna quickly hit Pinterest here named bear with me. 565 00:30:42,360 --> 00:30:44,600 Speaker 1: P I n s as your taker. Up about eighteen 566 00:30:44,640 --> 00:30:49,040 Speaker 1: percent in the pre market and massive resilient result. Elliott 567 00:30:49,040 --> 00:30:52,840 Speaker 1: Activists management also saying that they're now the largest shareholder 568 00:30:52,920 --> 00:30:56,040 Speaker 1: of Pinterest shares. It seems to be helping, that's for sure. 569 00:30:56,080 --> 00:30:59,000 Speaker 1: Thanks creedy as always. Bloomberg Radio and TV Markets correspondent 570 00:30:59,280 --> 00:31:02,640 Speaker 1: Credy gooped stocks as a whole moving lower as we 571 00:31:02,720 --> 00:31:06,600 Speaker 1: watch how speaker Nancy Pelosi is playing this morning. SMP 572 00:31:06,720 --> 00:31:10,960 Speaker 1: futures down thirty two points, Stown futures down, Nanasect futures 573 00:31:10,960 --> 00:31:14,320 Speaker 1: are lower by ten. Your treasury yield right now two 574 00:31:14,320 --> 00:31:17,960 Speaker 1: point five four per cent. You're listening to Bloomberg Day right, 575 00:31:22,360 --> 00:31:25,000 Speaker 1: Bloomberg eleven three oh weather, sunshine today, maybe a shower 576 00:31:25,040 --> 00:31:27,680 Speaker 1: of thundershower going up to your ninety mostly sunny. You're 577 00:31:27,760 --> 00:31:31,800 Speaker 1: ninety tomorrow, mid nineties sunny, hot, humid for Thursday right 578 00:31:31,800 --> 00:31:38,760 Speaker 1: now seventy two in Central Park Markets, headlines and breaking 579 00:31:38,800 --> 00:31:41,680 Speaker 1: news twenty four hours a day at Bloomberg dot Com 580 00:31:41,760 --> 00:31:45,320 Speaker 1: Blo Bloomberg Business Out and at Bloomberg Quick Take, He's 581 00:31:45,360 --> 00:31:55,320 Speaker 1: a Bloomberg business lash and I'm Cameron Moscow and futures 582 00:31:55,400 --> 00:31:57,360 Speaker 1: are following this morning, we go to the first word 583 00:31:57,400 --> 00:32:00,640 Speaker 1: breaking news dash for today's morning call. Here's Bill Maloney, Bill, 584 00:32:00,680 --> 00:32:04,240 Speaker 1: good morning, Hey, good morning, Karen. That's right. US futures 585 00:32:04,280 --> 00:32:06,160 Speaker 1: are in the red right now. Debt futures down two 586 00:32:06,600 --> 00:32:08,760 Speaker 1: two points, has to be dropped thirty two. Well, Nastic 587 00:32:08,880 --> 00:32:12,440 Speaker 1: futures are off by one three, the US ten year 588 00:32:12,440 --> 00:32:15,200 Speaker 1: old at two point five four percent, gold is up three, 589 00:32:15,240 --> 00:32:17,840 Speaker 1: oil is down, and bitcoin trading lower by one point 590 00:32:17,880 --> 00:32:20,960 Speaker 1: five percent. Hong Kong dropped two point four percent overnight, 591 00:32:20,960 --> 00:32:23,479 Speaker 1: while EUROPN markets are in the red, led by losses 592 00:32:23,480 --> 00:32:25,920 Speaker 1: in Italy. Back in the US, on the economic front, 593 00:32:25,920 --> 00:32:28,680 Speaker 1: at ten o'clock, the Jolt's job openings and after the 594 00:32:28,720 --> 00:32:32,360 Speaker 1: bellas Night Pinchers reported shaws are up n in the 595 00:32:32,400 --> 00:32:35,360 Speaker 1: pre market. Regarding some of the earnings this morning, Caterpillar 596 00:32:35,480 --> 00:32:38,320 Speaker 1: was mixed and Leric cut its fiscally your net sales forecast. 597 00:32:38,680 --> 00:32:41,520 Speaker 1: On the geopolitical front, FLOSI is expected to land in 598 00:32:41,600 --> 00:32:44,440 Speaker 1: tai pay Atten twenty and a deal news this just 599 00:32:44,560 --> 00:32:47,440 Speaker 1: hit TV Bank to buy Cowen for thirty nine dollars 600 00:32:47,440 --> 00:32:50,200 Speaker 1: per share. Wrapping things up, Intel is because the cell 601 00:32:50,520 --> 00:32:53,840 Speaker 1: over at easy Bank live from the first breaking news Tascomb, 602 00:32:53,880 --> 00:32:56,600 Speaker 1: Bill Maloney, Karen, all right, Bill, thank you. Yeah, we're watching. 603 00:32:56,600 --> 00:32:59,080 Speaker 1: Shares account up eight point four percent right now in 604 00:32:59,160 --> 00:33:01,479 Speaker 1: the early trade and your live braaking news of your 605 00:33:01,520 --> 00:33:04,360 Speaker 1: Bloomberg type squawk on your terminal. Ask you a w 606 00:33:04,600 --> 00:33:07,440 Speaker 1: K that's in Bloomberg Business Flash. Now here's Michael Barr 607 00:33:07,520 --> 00:33:10,160 Speaker 1: with more on what's going on around the world. Michael Karen, 608 00:33:10,240 --> 00:33:12,720 Speaker 1: thank you very much. President Biden says that a US 609 00:33:12,800 --> 00:33:16,880 Speaker 1: air strike killed al Qaida leader i'm In Alswaehira in 610 00:33:16,960 --> 00:33:19,920 Speaker 1: the drone strike. The White House says that the al 611 00:33:19,960 --> 00:33:23,680 Speaker 1: Qaida leader was essentially provided safe harbor in downtown Cowbol 612 00:33:23,720 --> 00:33:27,160 Speaker 1: by senior leaders of the Televan network. How Speaker Nancy 613 00:33:27,160 --> 00:33:30,000 Speaker 1: Pelosi continues through Asia trip and appeers she will make 614 00:33:30,000 --> 00:33:34,640 Speaker 1: a controversial stop in Taiwan. China warns that it would 615 00:33:34,680 --> 00:33:38,320 Speaker 1: never sit idly by if Pelosi goes through with his 616 00:33:38,480 --> 00:33:42,640 Speaker 1: visit to Taiwan, which China claims as its own. In baseball, 617 00:33:42,680 --> 00:33:45,200 Speaker 1: the Yankees beat the Mariners seven to the Mets beat 618 00:33:45,240 --> 00:33:48,040 Speaker 1: the National seventh three. The Red Sox and Orioles were 619 00:33:48,040 --> 00:33:50,720 Speaker 1: also winners. The Giants lost to the Dodgers. A too 620 00:33:51,160 --> 00:33:53,640 Speaker 1: global news twenty four hours a day on here and 621 00:33:53,800 --> 00:33:56,880 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 622 00:33:56,960 --> 00:33:59,240 Speaker 1: journalists and analysts more than a hundred twenty countries, by 623 00:33:59,320 --> 00:34:02,440 Speaker 1: Michael Barr, and this is Bloomberg. Cameron, all right, Michael, 624 00:34:02,480 --> 00:34:04,800 Speaker 1: thank you at A sixty nine on Wall Street, and 625 00:34:04,840 --> 00:34:07,320 Speaker 1: we turned to news and science and technology now at 626 00:34:07,320 --> 00:34:10,279 Speaker 1: the Bloomberg n j I T STEM Report. It is 627 00:34:10,320 --> 00:34:13,319 Speaker 1: brought to you by New Jersey Institute of Technology, ranked 628 00:34:13,400 --> 00:34:16,839 Speaker 1: top fifty national public university by US News and World 629 00:34:16,920 --> 00:34:19,520 Speaker 1: Report and top ten in the nation for engineering by 630 00:34:19,560 --> 00:34:22,160 Speaker 1: money dot Com. Learn more at n j I T 631 00:34:22,520 --> 00:34:27,000 Speaker 1: dot E d U now Here's just making news and science, technology, engineering, 632 00:34:27,080 --> 00:34:30,440 Speaker 1: and math. President Biden is set to name top officials 633 00:34:30,440 --> 00:34:33,480 Speaker 1: from the Federal Emergency Management Agency and the Centers for 634 00:34:33,600 --> 00:34:36,399 Speaker 1: Disease Control and Prevention to serve as the White House 635 00:34:36,440 --> 00:34:40,080 Speaker 1: coordinators to combat the growing Monkey Pok's outbreak. The White 636 00:34:40,080 --> 00:34:42,719 Speaker 1: House said Biden will announce later today that he has 637 00:34:42,719 --> 00:34:46,960 Speaker 1: tapped Robert Fenton as the White House Coordinator. Dr Dmitri 638 00:34:47,160 --> 00:34:50,840 Speaker 1: Descalacus of the CDC will be named his deputy. A 639 00:34:50,920 --> 00:34:54,800 Speaker 1: group of top scientists claim experts are ignoring the worst 640 00:34:54,800 --> 00:34:59,439 Speaker 1: possible climate change catastrophic scenarios. Eleven scientists from around the world. 641 00:34:59,480 --> 00:35:03,160 Speaker 1: They're calling the United Nations Intergovernmental Panel on Climate Change 642 00:35:03,320 --> 00:35:07,280 Speaker 1: to do a special science report on catastrophic climate change 643 00:35:07,360 --> 00:35:09,719 Speaker 1: to bring into focus how much is at stake in 644 00:35:09,719 --> 00:35:12,520 Speaker 1: a worst case scenario and their perspective piece and the 645 00:35:12,520 --> 00:35:15,600 Speaker 1: proceedings of the National Academy of Sciences. They raised the 646 00:35:15,640 --> 00:35:20,600 Speaker 1: idea of human extinction and worldwide societal collapse, calling it 647 00:35:20,640 --> 00:35:25,160 Speaker 1: a dangerously under explored topic. Last week's fifty two billion 648 00:35:25,200 --> 00:35:28,560 Speaker 1: dollar aid package for US chipmakers included a significant provision. 649 00:35:28,640 --> 00:35:31,680 Speaker 1: Companies that received the funding have to promise not to 650 00:35:31,719 --> 00:35:35,040 Speaker 1: increase their production of advanced chips in China. The curbial 651 00:35:35,080 --> 00:35:38,320 Speaker 1: hit companies such as Intel and Taiwan Semiconductor. That's a 652 00:35:38,320 --> 00:35:41,480 Speaker 1: Bloomberg j I t Stem report, Nathan, Thank you, Karen. 653 00:35:41,480 --> 00:35:43,960 Speaker 1: We are live from the Bloomberg Interactive Broker's studios where 654 00:35:43,960 --> 00:35:46,359 Speaker 1: it's just about six fifty one on Wall Street Time 655 00:35:46,440 --> 00:35:48,279 Speaker 1: now to check what's going on in d C. Some 656 00:35:48,360 --> 00:35:50,800 Speaker 1: of the top stories in our nation's capital include President 657 00:35:50,840 --> 00:35:53,360 Speaker 1: Biden hailing a drone strike that killed an architect of 658 00:35:53,440 --> 00:35:57,040 Speaker 1: nine eleven, Speaker Pelosi poise to visit Taiwan as China 659 00:35:57,120 --> 00:36:02,080 Speaker 1: threatens military action, and Cinemas silent on Mansions deal keeps 660 00:36:02,120 --> 00:36:05,960 Speaker 1: everyone in Washington guessing let's bring back Bloomberg. Washington correspondent 661 00:36:06,040 --> 00:36:10,399 Speaker 1: Joe Matthew hosted Bloomberg Radio Sound on Joe. The big 662 00:36:10,440 --> 00:36:13,360 Speaker 1: news last night from President Biden. I'm an Olswahi, the 663 00:36:13,440 --> 00:36:16,799 Speaker 1: leader of all Kainda is off the terrorist battlefield. Yeah, 664 00:36:16,880 --> 00:36:19,000 Speaker 1: big moment, in a big win for the administration that 665 00:36:19,160 --> 00:36:23,160 Speaker 1: argued for this idea of over the horizon missions like 666 00:36:23,200 --> 00:36:26,680 Speaker 1: we saw here drone strikes essentially attacks from outside of 667 00:36:26,719 --> 00:36:29,680 Speaker 1: the country in terms of counter terrorism. There were a 668 00:36:29,680 --> 00:36:32,239 Speaker 1: lot of doubts following our withdrawal from Afghanistan that these 669 00:36:32,280 --> 00:36:34,680 Speaker 1: would work, and of course we had a real botched 670 00:36:34,719 --> 00:36:37,960 Speaker 1: attempt at one of them about a year ago, when 671 00:36:38,040 --> 00:36:41,840 Speaker 1: ten civilians were killed after we dropped a drone strike 672 00:36:41,920 --> 00:36:45,319 Speaker 1: on what we thought was a terrorist moving through Afghanistan. 673 00:36:45,360 --> 00:36:47,480 Speaker 1: And this particular case, we're not only talking about one 674 00:36:47,480 --> 00:36:50,239 Speaker 1: of the architects of not eleven, but even the USS 675 00:36:50,360 --> 00:36:54,640 Speaker 1: coal bombing h a year earlier, and someone who had 676 00:36:54,680 --> 00:36:59,319 Speaker 1: been sought for years and years. Joe Biden managed to 677 00:36:59,360 --> 00:37:01,279 Speaker 1: stand up in front of the nation last night from 678 00:37:01,320 --> 00:37:05,520 Speaker 1: the Blue Room balcony, isolating with COVID, his rebound case 679 00:37:05,560 --> 00:37:08,560 Speaker 1: of COVID, to announce the kill. It's considered a big 680 00:37:08,600 --> 00:37:11,160 Speaker 1: win for the White House and for the US. Frankly, 681 00:37:11,440 --> 00:37:13,919 Speaker 1: how was the US able to pull off this win, 682 00:37:14,040 --> 00:37:17,280 Speaker 1: given that, as you say, there are no longer boots 683 00:37:17,320 --> 00:37:20,160 Speaker 1: on the ground and every it's a great question. Look, 684 00:37:20,200 --> 00:37:24,040 Speaker 1: we could have received information from someone on the ground. 685 00:37:24,480 --> 00:37:27,640 Speaker 1: There could be covert operations there, obviously we don't know about, 686 00:37:27,760 --> 00:37:30,160 Speaker 1: or they wouldn't be covert. But as far as we understand, 687 00:37:30,480 --> 00:37:33,560 Speaker 1: we do not have uh. The intelligence community does not 688 00:37:33,640 --> 00:37:35,400 Speaker 1: have a presence on the ground. And of course we 689 00:37:35,440 --> 00:37:37,960 Speaker 1: know that there are no military boots on the ground. 690 00:37:37,960 --> 00:37:41,120 Speaker 1: It's entirely possible this came from high above. We've got 691 00:37:41,120 --> 00:37:44,200 Speaker 1: satellites over that country, we've got drones over that country, 692 00:37:44,239 --> 00:37:46,640 Speaker 1: and we know that they were pursuing this individual. They 693 00:37:46,640 --> 00:37:49,399 Speaker 1: found him in a safe house, uh. And they even 694 00:37:49,960 --> 00:37:52,319 Speaker 1: constructed a model of the house Nathan and presented it 695 00:37:52,360 --> 00:37:54,840 Speaker 1: to the president last month in July. That's when he 696 00:37:55,080 --> 00:37:58,279 Speaker 1: green lit this operation, and only days later, when he 697 00:37:58,320 --> 00:38:02,000 Speaker 1: stepped out onto the balcony, the drone strike hit him. 698 00:38:02,239 --> 00:38:05,120 Speaker 1: It seems as this as if this triumphant moment for 699 00:38:05,160 --> 00:38:08,799 Speaker 1: the US is being overshadowed by the tensions between the 700 00:38:08,920 --> 00:38:12,840 Speaker 1: US and China, with Speaker Pelosi expected within hours to 701 00:38:13,040 --> 00:38:16,759 Speaker 1: visit Taiwan. Where are we going here in terms of 702 00:38:16,800 --> 00:38:19,640 Speaker 1: the U S China relationship. Joe Well, the White House says, 703 00:38:19,640 --> 00:38:22,760 Speaker 1: we're not going anywhere. Nothing's changed. That was the refrain 704 00:38:22,960 --> 00:38:25,719 Speaker 1: from John Kirby yesterday in the briefing room and in 705 00:38:25,800 --> 00:38:29,880 Speaker 1: an interview with Bloomberg News. No change to our stand 706 00:38:29,920 --> 00:38:32,719 Speaker 1: on the One China policy. And there is precedent, as 707 00:38:32,760 --> 00:38:35,960 Speaker 1: he made clear, for this trip, having seen Speakers of 708 00:38:35,960 --> 00:38:38,359 Speaker 1: the House. God, it's been a while since New Gingwich went, 709 00:38:38,680 --> 00:38:43,560 Speaker 1: but we've seen Codell's, these congressional delegations that travel UH 710 00:38:43,680 --> 00:38:48,279 Speaker 1: to Taiwan repeatedly. This is this is nothing new. The timing, though, 711 00:38:48,360 --> 00:38:52,040 Speaker 1: is curious, as of course President she seeks a third term, 712 00:38:52,480 --> 00:38:54,600 Speaker 1: and there does seem to be this feel in China 713 00:38:54,719 --> 00:38:57,120 Speaker 1: that the US is backing away from the One China 714 00:38:57,160 --> 00:39:00,439 Speaker 1: policy with a trip like this. Look, the White House 715 00:39:00,480 --> 00:39:04,080 Speaker 1: did not confirm that she's going. These are still technically reports, 716 00:39:04,080 --> 00:39:06,760 Speaker 1: even though we are expecting her to touch down. Questions 717 00:39:06,800 --> 00:39:08,680 Speaker 1: about what will happen when she gets there. She'll have 718 00:39:08,680 --> 00:39:12,600 Speaker 1: a military escort, but unclear exactly how visible UH this 719 00:39:12,640 --> 00:39:15,120 Speaker 1: trip will be, how visible her activities will be, Particularly 720 00:39:15,160 --> 00:39:18,680 Speaker 1: if she's going to be touching down here shortly, we 721 00:39:18,760 --> 00:39:21,440 Speaker 1: might have to wait until after the fact to see images. Nathan. 722 00:39:21,680 --> 00:39:25,279 Speaker 1: But even if the speaker word to back down, I mean, 723 00:39:25,360 --> 00:39:28,080 Speaker 1: it's it would be a difficult proposition at this point 724 00:39:28,080 --> 00:39:30,839 Speaker 1: for her to call off this trip, given that she's 725 00:39:30,920 --> 00:39:33,640 Speaker 1: signaled at least that this is happening, right, I mean, 726 00:39:33,640 --> 00:39:36,359 Speaker 1: she's got bipartisan support for making this trip. I think 727 00:39:36,360 --> 00:39:38,919 Speaker 1: that's true. In fact, the Republicans, until just a couple 728 00:39:38,960 --> 00:39:41,080 Speaker 1: of days ago, were the ones saying, go ahead, it's 729 00:39:41,080 --> 00:39:43,239 Speaker 1: an ally, what's the problem. It was the White House 730 00:39:43,280 --> 00:39:46,799 Speaker 1: that was concerned. Of course, the President said publicly that 731 00:39:46,840 --> 00:39:49,640 Speaker 1: the U. S. Military had issues, had concerns about her going, 732 00:39:49,680 --> 00:39:51,319 Speaker 1: didn't want it to go right now, and that's why 733 00:39:51,360 --> 00:39:53,839 Speaker 1: we knew there was a little bit of friction here. 734 00:39:53,840 --> 00:39:56,680 Speaker 1: We have to remember this trip was actually scheduled originally 735 00:39:56,680 --> 00:39:59,800 Speaker 1: back in April, and Nathan nobody was talking about it. 736 00:40:00,200 --> 00:40:03,040 Speaker 1: This was not a major controversy. Granted, she didn't get 737 00:40:03,040 --> 00:40:05,400 Speaker 1: as close as she is right now, but when Nancy 738 00:40:05,440 --> 00:40:08,120 Speaker 1: Pelosi came down with COVID, that's why they postponed the trip. 739 00:40:08,160 --> 00:40:10,960 Speaker 1: It's only since, uh, the last couple of weeks of 740 00:40:11,400 --> 00:40:14,080 Speaker 1: talk and rhetoric that this has become such a controversy 741 00:40:14,480 --> 00:40:17,279 Speaker 1: in our last minute here, Joe, what's going on with 742 00:40:17,400 --> 00:40:21,000 Speaker 1: the UH Inflation Reduction Act? The Joe Mansion Chuck Schumer 743 00:40:21,040 --> 00:40:22,480 Speaker 1: to check it. Tell you, well, first of all, we 744 00:40:22,520 --> 00:40:24,759 Speaker 1: don't know where Kirsten Cinema is, and I think you 745 00:40:24,800 --> 00:40:26,800 Speaker 1: were wise to point out her name in the outset 746 00:40:26,840 --> 00:40:29,360 Speaker 1: of this conversation. I don't know how many more days 747 00:40:29,400 --> 00:40:31,440 Speaker 1: we can go on without knowing here, but I guess 748 00:40:31,440 --> 00:40:33,520 Speaker 1: you know Cinema is probably waiting for the bird bath 749 00:40:33,560 --> 00:40:36,680 Speaker 1: to finish the Senate Parliamentary and is still scrubbing the 750 00:40:36,680 --> 00:40:39,240 Speaker 1: text of this bill to make sure that it all 751 00:40:39,320 --> 00:40:42,200 Speaker 1: qualifies for what we call a reconciliation bill. It's got 752 00:40:42,200 --> 00:40:45,640 Speaker 1: to be a budget related matter, and so Republicans are 753 00:40:45,640 --> 00:40:47,640 Speaker 1: trying to kick out portions of this, much like they 754 00:40:47,640 --> 00:40:50,359 Speaker 1: did with Build Back Better beginning with the Prescription Drug 755 00:40:50,400 --> 00:40:53,239 Speaker 1: Plan UH that was set to lower prices, allowing the 756 00:40:53,239 --> 00:40:56,759 Speaker 1: government to negotiate lower prices with pharmaceutical companies. Is that 757 00:40:56,840 --> 00:40:59,880 Speaker 1: a budget matter? It's going to depend on how exactly 758 00:40:59,880 --> 00:41:02,640 Speaker 1: the parliamentarian looks at this. Joe Mansion and Chuck Schumer 759 00:41:02,680 --> 00:41:05,120 Speaker 1: say they were very careful in writing the language so 760 00:41:05,160 --> 00:41:08,279 Speaker 1: this would pass the test well, while we're waiting for 761 00:41:07,880 --> 00:41:10,080 Speaker 1: me for Cinema to come down on this, I mean, 762 00:41:10,120 --> 00:41:13,000 Speaker 1: what kind of incoming is she getting. I mean, she's 763 00:41:13,040 --> 00:41:15,640 Speaker 1: got to be getting lobbied on all sides to go 764 00:41:15,760 --> 00:41:18,600 Speaker 1: one way or the other. Right, absolutely, not just lobbyists 765 00:41:18,600 --> 00:41:20,319 Speaker 1: trying to pull her in one direction or the other, 766 00:41:20,400 --> 00:41:22,800 Speaker 1: not just her colleagues in the Senate from both sides 767 00:41:22,840 --> 00:41:26,080 Speaker 1: of the aisle who feel comfortable reaching out, but also media. 768 00:41:26,160 --> 00:41:28,160 Speaker 1: You know, when senators come back today, they're gonna be 769 00:41:28,200 --> 00:41:31,759 Speaker 1: core reporters will be crawling the halls looking for her. 770 00:41:32,120 --> 00:41:35,279 Speaker 1: And it's probably, uh, at some point here in the 771 00:41:35,320 --> 00:41:39,680 Speaker 1: next week gonna have to emerge where exactly Kirston Cinema is. 772 00:41:39,719 --> 00:41:42,080 Speaker 1: But she does have an opportunity to say, look, I 773 00:41:42,120 --> 00:41:45,000 Speaker 1: haven't seen the bill. I'm waiting for the parliamentarian to rule. 774 00:41:45,120 --> 00:41:46,440 Speaker 1: I'll let you know when I have a chance to 775 00:41:46,440 --> 00:41:49,319 Speaker 1: read the seven dred and twenty five pages. And that 776 00:41:49,320 --> 00:41:51,520 Speaker 1: could take the rest of this week. But we'll see 777 00:41:51,520 --> 00:41:53,520 Speaker 1: what you get. As you joined the press corps and 778 00:41:53,840 --> 00:41:58,239 Speaker 1: hound Kirston Cinema today, Joe and Washington appreciate that. Joe 779 00:41:58,320 --> 00:42:00,839 Speaker 1: Matthew are Washington correspondent, host of sound on catch at 780 00:42:00,840 --> 00:42:05,200 Speaker 1: weekdays five pm Eastern on Bloomberg Radio and get more 781 00:42:05,200 --> 00:42:08,880 Speaker 1: on all these stories. Bloomberg dot Com and the Bloomberg Terminal. 782 00:42:09,160 --> 00:42:12,160 Speaker 1: SMP future is now down thirty two points. Stown futures 783 00:42:12,160 --> 00:42:16,200 Speaker 1: down two sixteen. MAZDAC futures are lower by a hundred 784 00:42:16,239 --> 00:42:19,320 Speaker 1: twenty five points. The tenure Treasury is up five thirty seconds, 785 00:42:19,760 --> 00:42:22,799 Speaker 1: yield two point five five percent. Yield on the two 786 00:42:22,960 --> 00:42:27,200 Speaker 1: year right now two point eight five percent. Looking at commodities, 787 00:42:27,239 --> 00:42:29,560 Speaker 1: dimex crewed is down six tenths per cent, or fifty 788 00:42:29,560 --> 00:42:32,840 Speaker 1: seven cents two A barrel comes gold up about a 789 00:42:32,880 --> 00:42:37,080 Speaker 1: tenth percent. Two bucks seventy gets you an ounce of 790 00:42:37,360 --> 00:42:40,480 Speaker 1: gold on the comex Euro one point zero two to 791 00:42:40,680 --> 00:42:44,960 Speaker 1: eight against the dollar. Bloomberg Surveillance is next. For Karen Moscow. 792 00:42:45,120 --> 00:42:48,279 Speaker 1: I'm Nathan Hagar, and this is Bloomberg