Speaker 1: Fly from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: Daybreak for Thursday, September twenty nine two. Coming up this hour,
Speaker 1: Hurricane Ian rips across Florida as one of the strongest
Speaker 1: storms ever to hit the US mainland. The Pounder resumes
Speaker 1: its fall as the UK holds firm on its fiscal plans,
Speaker 1: US future slide. Treasury yields rise following yesterday's Wall Street rally,
Speaker 1: and thousands of Amazon workers are getting races. The New
Speaker 1: York City Council is deciding whether the band's solitary confinement
Speaker 1: in jails. Plus, the US Senate is ready to pass
Speaker 1: the bill that will keep the government open. I'm Michael
Speaker 1: barn More Ahead, I'm John Stash Hour and sports Aaron
Speaker 1: Josh hit his record time sixty one abern and Yankee
Speaker 1: went in Toronto. A big comeback win for the man
Speaker 1: that's all strady Ahead on Bloomberg Daybreak on Bloomberg eleven,
Speaker 1: Free on New York, Bloomberg one, Washington, d C, Bloomberg
Speaker 1: one O six one, Boston, Bloomberg nine sixties and Francisco
Speaker 1: Sirius x M one nineteen and around the World. Old
Speaker 1: on Bloomberg Radio dot com and via the Bloomberg Business App.
Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow and
Speaker 1: US Dock Index futures are following this morning. We are
Speaker 1: coming up to six o one on Wall Street, and
Speaker 1: we check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg. SNP futures down thirty two points, now futures
Speaker 1: down two hundred eighteen. NAS deck futures down one three.
Speaker 1: The decks in Germany is down one point to per cent.
Speaker 1: The ten year treasury down twenty six thirty seconds, held
Speaker 1: three point three percent in the yield on the two
Speaker 1: year four point to one percent. Nine x screwed oil
Speaker 1: up three tens per cent, or twenty seven cents at
Speaker 1: eighty two dollars forty two cents in barrel, British pound
Speaker 1: one point eight six five against the dollar. Nathan, Karen,
Speaker 1: We'll have more on markets in a minute, but first
Speaker 1: let's get you the latest on Hurricane Ian. It crashed
Speaker 1: into Florida yesterday, bringing massive storm surgeon, knocking up power
Speaker 1: to more than two million homes and businesses. President Biden
Speaker 1: says the federal government stands ready to help. That includes
Speaker 1: this fasten hundreds of femal personnel and activating thousands of
Speaker 1: National Guard members. I've also developed a searching recipe team
Speaker 1: and deployed them for mulmibile federises season, and then they've
Speaker 1: already on the ground. We're ready to help. President Biden
Speaker 1: is also urging Florida residents to follow all warnings from
Speaker 1: local officials. Ian has weekend since it hit land. It
Speaker 1: is now a tropical storm with top winds around Let's
Speaker 1: get more on the track now with Bloomberg. Metrologists drobed Caroline, Nathan, Karen,
Speaker 1: and Ian now affecting central and northeastern Florida. It is
Speaker 1: moving off towards the north and east. This morning it
Speaker 1: will bring win gus over sixty miles two portions of
Speaker 1: northeastern Florida. Now, the system is forecast to move out
Speaker 1: over the waters of the Atlantic and it may actually
Speaker 1: regain some strength before moving back inland over Georgia and
Speaker 1: the Carolinas in the next thirty six hours. Again, it
Speaker 1: continues to produce prodigious rainfall. We're expecting anywhere from five
Speaker 1: to ten inches of rain north of the storm today,
Speaker 1: with additional rainfall into the weekend. Yesterday, it went ashore
Speaker 1: in southwestern Florida with winds of over a hundred and
Speaker 1: fifty miles an hour and a storm surge that caused
Speaker 1: some historic flooding in the Naples area. Also around Fort Myers,
Speaker 1: Fort Myers Beach, Nita Beach, all those areas saw significant flooding.
Speaker 1: Nathan and Karen, All right, Rob, thank you, and of
Speaker 1: course I'll be checking in with the Bloomberg meteorologists round
Speaker 1: Caroline throughound the morning right here on Bloomberg Radio. Now
Speaker 1: back to the volatile markets. We're seeing the pound snap
Speaker 1: a two day gain following that historic bond buying program
Speaker 1: from the Bank of England. Let's get the very latest
Speaker 1: from London with Bloomberg's un Pats. Good morning, Uen, Good
Speaker 1: morning Karen, Nathan. After yesterday's central bank driven rally, UK stock,
Speaker 1: sovereign bonds and the pounds all lower this morning. Prominister
Speaker 1: Liz Trust today defending her government's huge fiscal stimulus package,
Speaker 1: blaming global economic pressures for the market fallout from her
Speaker 1: announcement last week. She says the tax cuts, the biggest
Speaker 1: in fifty years, are the right plan for the UK. Today.
Speaker 1: Slide puts the pound on track for its worst month
Speaker 1: since Britain voted to leave the European Union more than
Speaker 1: six years ago. In London, I'm spoom book daybreak, thanks you,
Speaker 1: and former US Treasury Secretary Larry Summers is weighing in
Speaker 1: on the turmoil and markets. He's welcoming intervention from the
Speaker 1: Bank of England, but says the UK still faces serious issues.
Speaker 1: I think it was the right thing to do given
Speaker 1: the technical factors that are that had arisen UH in
Speaker 1: the market, and it's obviously brought some important stability to
Speaker 1: the guilt market. It does not resolve any of the
Speaker 1: fundamental contradictions in UH British policy. Former Treasury Secretary Larry
Speaker 1: Summer spoke with Bloomberg Gowers after the Bank of England
Speaker 1: pledged unlimited purchases of long dated government bonds. Well, the
Speaker 1: White House is alarmed over the market turmoil triggered by
Speaker 1: the new UK Nathan Now. It's encouraging Prime Minister list
Speaker 1: Trust to dial back or economic plans to get details
Speaker 1: from Bloomberg's Amy Morriss from our not e on one
Speaker 1: newsroom in Washington. The plunge in UK assets earlier this
Speaker 1: week contributed to declines in US treasuries. Sources tell Bloomberg News,
Speaker 1: Treasury officials are concerned at the volatility in the markets,
Speaker 1: and they're working through the I m F to put
Speaker 1: more pressure on Trust's government. Treasury Secretary Janet Yellen downplay
Speaker 1: the turbulence, but Commerce Secretary Gina Raimondo called Trust's approach
Speaker 1: of cutting taxes while increasing spending misguided. Trust's government argues
Speaker 1: it's program will boost long term growth in Washington, I'm
Speaker 1: maybe more as Bloomberg Daybreak, Thanks, and you've got some
Speaker 1: personnel news out of Washington this morning. Sources say Treasury
Speaker 1: Secretary Janet Yellen has told the White House she will
Speaker 1: stay past the November elections. Her desire to stay comes
Speaker 1: as the Biden administration prepares for potential cabinet and other
Speaker 1: senior personnel changes. Those decisions may depend on how well
Speaker 1: or poorly Democrats do in the elections. Meantime, Nathan A
Speaker 1: House proposal to restrict stunk trading by government officials has
Speaker 1: hit a snag. The Bill Wooker tail stock ownership and
Speaker 1: trading by members of Congress, the president, vice president, Supreme
Speaker 1: Court justices, and other high ranking officials, but it's currently
Speaker 1: being held up by Democratic in The bill's sponsors introduce
Speaker 1: the legislation yesterday, but multiple House officials familiar with the
Speaker 1: discussion said any floor action on the measure has been shelved,
Speaker 1: at least for now. Lawmakers are scheduled to leave Washington
Speaker 1: this week until after the November election. Let's turn to
Speaker 1: geopolitics now, Karen, the US wants to resume talks with China.
Speaker 1: Ambassador Nicolas Burns is calling on the nation to reopen
Speaker 1: discussions that were halted after how Speaker Nancy Pelosi's visit
Speaker 1: to Taiwan. We do not seek conflict, and we're gonna
Speaker 1: try to compete with China vigorously and then work with
Speaker 1: China where we can, and we hope the Chinese will reciprocate.
Speaker 1: They've frozen a lot of our dialogues since Speaker Pelosi's visit.
Speaker 1: Our message to the Chinese is, let's talk open these
Speaker 1: dialogues and let's move forward. Ambassador Nicholas Burns spoke at
Speaker 1: the Milk and Institute Asia Summit in Singapore. He says
Speaker 1: the US needs stork of China on issues like climate
Speaker 1: change and health and incorporate news Nathan Amazon is boosting
Speaker 1: pay for hourly workers in the US. The online retailing
Speaker 1: giants said the move will raise the average earting wage
Speaker 1: for most frontline employees and warehousing and transportation to nineteen
Speaker 1: dollars an hour. Again, futures are lower this morning. S
Speaker 1: and P futures down thirty nine points, staff futures down
Speaker 1: two nine and nasdack futures down one. Straight ahead your
Speaker 1: latest local headlines plus a check of sports, and this
Speaker 1: is Bloomberg. I mean to Karen six o seven on
Speaker 1: Wall Street, fifty four degrees in Central Park slogan in
Speaker 1: on New Jersey Transits Northeast cord or twenty minute delays.
Speaker 1: Tell you why in traffic. First Michael Barr with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. The New York City
Speaker 1: Council is deciding whether to band solitary confinement in jails.
Speaker 1: Demonstrators on both sides clashed on the steps of City
Speaker 1: Hall ahead of a hearing on the bill. Any Bosco
Speaker 1: of the Correction Officers Benevolent Association says that the notion
Speaker 1: that we're torturing individuals in our system is not the case. However,
Speaker 1: Democratic City Council Member Tiffany Kavan argued, we need to
Speaker 1: find out what is the of the violence. New Jersey Bank,
Speaker 1: a New Jersey bank, agreed to pay thirteen million dollars
Speaker 1: to resolve claims of discriminatory and lending practices. Lakeland Bank
Speaker 1: has been ranked best bank in New Jersey, but U
Speaker 1: S Attorney Phillips Sollinger says it's not for people of
Speaker 1: color and at least three counties. If you lived in
Speaker 1: the black or Hispanic neighborhood in these counties, you likely
Speaker 1: have little opportunity to apply for, let alone obtain a
Speaker 1: mortgage from Lakeland Bank. U S Attorney Phillips Slingers said
Speaker 1: Lakeland Bank redline these neighborhoods refused to service them in
Speaker 1: violation of the Fair Housing Act. The U. S. Senate
Speaker 1: is ready to pass the bill that will keep the
Speaker 1: government open and spending until at least the middle of December.
Speaker 1: Democratic Representative Jim Governor of Massachusetts thanks the government funding
Speaker 1: bill will pass by tomorrow. We're going to do everything
Speaker 1: we can to make sure we don't have a government shutdown.
Speaker 1: Remember the last time we had a government shutdown. The
Speaker 1: Republicans controlled the White House, the House, and the Senate.
Speaker 1: I mean that would your responsible, We would we would
Speaker 1: we would not do that. And the fact of the
Speaker 1: matter is there's a lot of stuff that we I
Speaker 1: would like to see in a cr and there's a
Speaker 1: lot of stuff, you know, that I would like to
Speaker 1: add on, and I know I can't get it best
Speaker 1: to Senate. So we have to do the best we
Speaker 1: can working with the people that we we have to
Speaker 1: deal with. Representative McGovern spoke on sound On, which airs
Speaker 1: at five pm weekdays on Bloomberg. Both parties agreed to
Speaker 1: a temporary continuing spending bill that will include disaster aid
Speaker 1: for weather battered Kentucky, Alabama, Texas, Alaska, and Puerto Rico.
Speaker 1: Vice President Kamala Harris is in South Korea. Harris met
Speaker 1: with the South Korean president reinforced the US South Korean
Speaker 1: alliance for seven decades. The alliance between the United States
Speaker 1: and the Republic of Korea has been a lynchpin a
Speaker 1: security and prosperity. Vice President Harris later traveled to the
Speaker 1: demilitarized zone that separates North and South Korea. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: quicktake powered by more than twenty seven hundre journalist and
Speaker 1: analyst to more than a hundred twenty countries. I'm Michael
Speaker 1: barn This is Bloomberg, Nathan. Thanks Michael. Almost six ten
Speaker 1: on Wall Street time for the Bloomberg Sports Update, and
Speaker 1: they finally got to sixty one. John Stenshower and the Fit.
Speaker 1: Perhaps you heard Aaron Judge been trying to get that
Speaker 1: sixty feet homer seventh straight times he was unable to
Speaker 1: hit a home run. As networks broke into programming to
Speaker 1: show us that bats. His mother and Roger Maris's son
Speaker 1: crossed borders to watch him in Toronto the last inning,
Speaker 1: last night seventh in ain't Tim May's on the man,
Speaker 1: Here's John Stirling w f an don't go? Did he
Speaker 1: loved it? Us high hell us part us gone number
Speaker 1: sixty one height times Roger Maris for the American League
Speaker 1: single season record. Who was sixty run home run? HiT's
Speaker 1: a two run Judge and Black and Yankee you American
Speaker 1: League record? Of course, the reason this has gotten so
Speaker 1: much attention, it's also the so called clean record. The
Speaker 1: only ones to hit more in a season Barry Bonds,
Speaker 1: Mark McGuire Sammy Sosa, all of their seasons tainted by
Speaker 1: steroid use. Judge s seven games left now to try
Speaker 1: to get to sixty two. The outcome of the game
Speaker 1: fairly meaningless. That's why Aaron Boone had Anthony Rizzo managed
Speaker 1: the Yankees, who beat the Blue Jay's eighth to three
Speaker 1: after the Mets their game. Very meaningful is the Mets
Speaker 1: try to win the nl East. That means a bye.
Speaker 1: It means avoiding the Dodgers until the NLCS. They trailed
Speaker 1: Miami for nothing seventh any Edwardo Escobar to the rescue
Speaker 1: to run home in the seventh game, tying two run
Speaker 1: single in the eighth and game winning rb I hit
Speaker 1: of the tent Mets won five for just as Atlanta
Speaker 1: lost in ten in Washington. So the three game series
Speaker 1: begins tomorrow Atlanta with the Mets one game ahead. Whether
Speaker 1: it could be an issue for this series Jets madd officials.
Speaker 1: Zack Wilson returns from his knee injury to start Sunday
Speaker 1: in Pittsburgh. John Stashward Bloomberg, Sports, Nathan Thanks John SMP
Speaker 1: futures down thirty seven points, Staff futures down, Tunere forty one,
Speaker 1: Nastack futures down a hundred fifty four points, the ten
Speaker 1: year treasuries down twenty seven thirty seconds, the yield three
Speaker 1: point eight four percent. This is Bloomberg Bloomberg eleven three
Speaker 1: oh other. Sunshine up for sixties today, increasing high cloudiness
Speaker 1: tomorrow up for sixties. Light rain from the income is
Speaker 1: in Saturday afternoon. It'll stay rainy all weekend with highs
Speaker 1: in the mid sixties. Currently fifty four degrees. Markets headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot Com, the Bloomberg Business Outland at Bloomberg Quicktape. He's
Speaker 1: a Bloomberg Business Flash and I'm Karin Moscow. Risk off
Speaker 1: sentiment returning to markets as concerned about inflation and the
Speaker 1: risk of global recession over shadows the Bank of England's
Speaker 1: move to restore calm the pounds snapping a two day gain,
Speaker 1: and we checked the markets every fifteen minutes throughout the
Speaker 1: trading day on Bloomberg. Guess and p Futures down thirties
Speaker 1: six points this morning. Down features down two two announced
Speaker 1: back futures down one fifty. The debts in Germany is
Speaker 1: down one point three per cent. Ten Your treasury down
Speaker 1: twenty seconds. You have three point three percent yield on
Speaker 1: the two year four point to one percent. NIMEX screwed
Speaker 1: oil is up six tents per cent or fifty two
Speaker 1: cents at eighty two dollars sixty seven cents of barrel
Speaker 1: comex goal down eight ten percent or thirteen dollars twenty
Speaker 1: cents at sixteen fifty six ninety announce. The euro is
Speaker 1: at point in nine six nine two against the dollar.
Speaker 1: British found one point eight six zero and again one
Speaker 1: four point six eight. Bitcoin is down six tenths of
Speaker 1: a percent in nineteen thousand, four hundred dollars. And today
Speaker 1: we are watching for a third read on second quarter
Speaker 1: GDP as well as the weekly record on initial jobless claims.
Speaker 1: Both are at at eight thirty Wall Street time. That's
Speaker 1: a bloomberg business flash. Now here's Michael Barr with more
Speaker 1: on what's going on around the world. Michael Karen, thank
Speaker 1: you very much. Hurricane and has left the path of
Speaker 1: destruction in southwest Florida, trapping people and flooded homes, damaging
Speaker 1: the roof of a hospital intensive care unit, and knocking
Speaker 1: out power to two million people. I and now a
Speaker 1: tropical store m is aiming for the Atlantic coast. The
Speaker 1: Biden administration blasted Russia's attempt to legitimize its control of
Speaker 1: Ukrainian territories through what they're calling a stage vote to
Speaker 1: appear as if there is Russian loyalty in these towns.
Speaker 1: In baseball, the Yankees beat the Blue Jay's eight three,
Speaker 1: but more importantly, Aaron Judge it his sixty one home run,
Speaker 1: tying Roger Merris for the a L record. The Matt's
Speaker 1: Nationals and Giants one, The Red Sox beat the Orioles
Speaker 1: three one, The A's Lost. Global news twenty four hours
Speaker 1: a day on air end on Bloomberg Quicktake, powered by
Speaker 1: more than journalist and analysts more than a hundred twenty countries.
Speaker 1: I'm Michael bar and this is Bloomberg Natheran. Okay, Michael,
Speaker 1: thank you, at six nineteen on Wall Street Life from
Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, And
Speaker 1: as we continue to follow the devastation brought by a
Speaker 1: now tropical storm Ian in Florida, we are watching a
Speaker 1: fiscal and monetary storm happening in the UK right now
Speaker 1: with new Prime Minister Liz trust Sing. I'm with tax
Speaker 1: cuts and the Bank of England responding with what looks
Speaker 1: like new stimulus. Let's bring in Bloomberg opinion calumnist Marcus Ashworth,
Speaker 1: who's been following this very closely. Marcus, it's great to
Speaker 1: have you with us. And it looks from this side
Speaker 1: of the pond like the new government and the Bank
Speaker 1: of England are on a collision course. Is that too
Speaker 1: strong a way to put it? Um, Yes, it is.
Speaker 1: I'm afraid okay. I think the Bank of England has
Speaker 1: has done exactly the right thing and it's stem the
Speaker 1: rock very quickly. If you actually know how much they
Speaker 1: bought last night, it was only about a billiard m
Speaker 1: just over and they continue to do this the next
Speaker 1: two weeks or so. I doubt they'll buy that much,
Speaker 1: probably ten, maybe a little bit more, but possibly quite
Speaker 1: a bit less compared to six bution they could in
Speaker 1: theory by which is the free floats. So I think
Speaker 1: the crisis is too early sets over. It's certainly a
Speaker 1: lot of damage limitations come in here. Um. I do
Speaker 1: think that the economics and politics needs to be separatet
Speaker 1: of here. Some of the economics of what the government's
Speaker 1: trying to do does make sense in the longer run.
Speaker 1: Clearly the presentation and the politics that was terrible. The
Speaker 1: presentation was was non existent, and there was a level
Speaker 1: of I guess you can have to call it arrogance,
Speaker 1: and certainly a lack of appreciation of how sensitive markets
Speaker 1: can be are and will continue to be and sudden
Speaker 1: changes in fiscal and economic policy need to be The
Speaker 1: picture needs to be rolled and everyone needs to be prepared,
Speaker 1: and it needs to be costed and funding in a
Speaker 1: way which people can get their heads around. That's what
Speaker 1: this government failed to do. The Bank of England, um,
Speaker 1: I've done pretty well. Perhaps they shouldn't have started their
Speaker 1: continent tightening program, they've had delayed that for a month.
Speaker 1: That could possibly do the thing. A little bit more
Speaker 1: delay um and and maybe they'll never get around to it,
Speaker 1: but certainly bar that, the Bank of England has managed
Speaker 1: to step in and say what was a very difficult
Speaker 1: situation pretty much unique the UK in the way the
Speaker 1: UK is structured with its pension fund and very long
Speaker 1: dated bond markets. So they've had to do what they
Speaker 1: need to do and they've done it very very successfully
Speaker 1: so far. And see some reaction that the Bank of
Speaker 1: England might be enabling the Trist's government by stepping in
Speaker 1: with this fine buying program while the new Prime Minister
Speaker 1: is doubling down on the tax cut regime. Is the
Speaker 1: Bank of England and enabling trust here? Now there's so
Speaker 1: much politics going on behind us. It's very if you
Speaker 1: have to filter out a lot of the a lot
Speaker 1: of stuff on inequality and whatever it is. The straightforward
Speaker 1: politics doesn't mean you have to agree with it. But
Speaker 1: you know what the government's trying to do. They are
Speaker 1: perfectly entitled the way. When they've done it, which clearly
Speaker 1: has been, the markets have taken umbrage out, particularly because
Speaker 1: it's clearly going to be they want to do an
Speaker 1: awful lot more and that's I think it's what scared
Speaker 1: the market more than anything. Uh, there wasn't quite the
Speaker 1: same demand structurally to take extra debt and they've they've
Speaker 1: not only increased it quite quickly, but they've clearly going
Speaker 1: to want to do a lot more. That that's what's
Speaker 1: caused the problem. It's more the future issuance than what
Speaker 1: may be come in the next year or so. But
Speaker 1: you know that the Bank of eng is doing what
Speaker 1: it's had to do for a financial stability point of view,
Speaker 1: that the overall numbers we're talking about here probably will
Speaker 1: not be very large at all. As I have, I
Speaker 1: am the beginning here, so I think there's a lot
Speaker 1: of politics going on trying to tidy the government with
Speaker 1: you know, kind of threaten the Bank of the independence
Speaker 1: some of its own fault. As again the presentation has
Speaker 1: been appalling, but I don't think the bankaving can be
Speaker 1: uh any very shapeful form blame there. They've done a
Speaker 1: magnificent job and we're very likely to happen. Telling about
Speaker 1: thirty seconds left here, Marcus, when we signed the proud
Speaker 1: earlier this week had a dollar three, now had a
Speaker 1: one oh eight handle. Where do you see the pound
Speaker 1: going at this point? Could we reach parody? We certainly couldn't,
Speaker 1: and that no one can can rule this out and
Speaker 1: structurally and dollar continues to rally, uh and there's no
Speaker 1: reason to suggest it won't for the moment until something
Speaker 1: in the US. For apes to make me new house
Speaker 1: a markism too clever, But that's because interest rates to
Speaker 1: go higher and are at some point that the Fed
Speaker 1: will have to pivot. But until they do, more points
Speaker 1: coming from all currencies, not just starting. I mean, it's
Speaker 1: the it's the un it's the yen, it's the euro,
Speaker 1: you name it. So starting just got a called a
Speaker 1: little bit of the sour on you say, going onto
Speaker 1: it and had its bad time. But the others will
Speaker 1: have their turn. I'm afraid in the dollars stay strong.
Speaker 1: Thanks so much Marcus for coming on with us this morning.
Speaker 1: Marcus Ashworth columnists for Bloomberg Opinion on the volatility in
Speaker 1: the UK market after Trusts government came out with its
Speaker 1: tax cuts on the Bank of England responded with a
Speaker 1: new bond buying program. Right now, SMP futures are down
Speaker 1: thirty four points, STOW futures down two hundred sixteen, Nasdaq
Speaker 1: futures are down a hundred forty three points. The tenure
Speaker 1: Treasury is down twenty five thirty seconds, yield three point
Speaker 1: eight three percent, yield on the two year four point
Speaker 1: to zero. And just again checking the British pound, it's
Speaker 1: at one point zero eight five four right now against
Speaker 1: the dollar. This is Bloomberg Bloomberg eleven three oh weather.
Speaker 1: Sunshine and upper sixties today, increasing high clouds tomorrow, up
Speaker 1: for sixties will be in the mid sixties. Saturday and
Speaker 1: Sunday as we feel the effects of what's left of
Speaker 1: Tropical Stormy in fifty four degrees. Right now, broadcasting live
Speaker 1: from the Bloomberg Interactive Broker Studio in New York, Bloomberg
Speaker 1: he loving free to Washington, d C Bloomberg, Line nine
Speaker 1: one to Boston Bloomberg one, O six one to San
Speaker 1: Francisco Bloomberg, and M sixty to the country Sirius XM
Speaker 1: CHADO one nine team and around the globe the Bloomberg
Speaker 1: Business app in Bloomberg Radio dot com. This is Bloomberg
Speaker 1: Daybreak six thirty on Wall Street. Good morning, I'm Nathan
Speaker 1: Hagar and I'm Karen Moscow, and we are just about
Speaker 1: three hours away from the open of US trading. Time
Speaker 1: for the five things that you need to notice start
Speaker 1: your day. Brought to you by I b k R
Speaker 1: Investment Advisors switched to Interrected Brokers for lowest cost global
Speaker 1: trading and turnkey custody solutions, no ticket charges and no
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Speaker 1: I a first Hurricane Ian as we can do. A
Speaker 1: tropical storm after hitting Florida with a deadly surge of
Speaker 1: water and catastrophic winds. About two point three million homes
Speaker 1: are without power. To get the very latest on the
Speaker 1: storm from Bloomberg meteorologist Rob Caroline, Karen and Nathan Ian.
Speaker 1: Tied for the fourth strongest tropical weather system to ever
Speaker 1: strike the continental United States made landfall yesterday in southwestern Florida,
Speaker 1: with winds at a hundred and fifty miles an hour
Speaker 1: and an extensive storm surge that caused very significant flooding
Speaker 1: across portions of southwestern Florida from Naples to Venice. The
Speaker 1: storm is now well inland, headed into northeastern Florida. Big
Speaker 1: problem will be wing gus today in excessive sixty mile
Speaker 1: and some torrential rain part clear on the northern side
Speaker 1: of the system into north Florida. Karen and Nathan okay, Rob,
Speaker 1: thank you. Will continue checking in with Bloomberg meteorologists Drobbed
Speaker 1: Carolyn throughout the morning here on Bloomberg Radio. Now, let's
Speaker 1: check in with the markets. The pound is resuming its
Speaker 1: slide after the Bank of England's emergency bond buying program
Speaker 1: temporarily soothed concerns. This morning, UK Prime Minister Liz Trust
Speaker 1: once again defended a giant package of unfunded tax cuts,
Speaker 1: where you're seeing both stocks and bonds in Europe fall
Speaker 1: this morning. Well, here in the US, Nathan futures are
Speaker 1: lower following yesterday's Wall Street rally, which saw the SNP
Speaker 1: five hundred staff a five day losing streak. Matt Melee,
Speaker 1: as chief market strategist in Miller tay Back, although we
Speaker 1: could get one big wash out here in the next
Speaker 1: few days. I think we're gonna see a bounce of
Speaker 1: the last for a week or two or maybe even three,
Speaker 1: but that will probably another opportunity to raise some cash.
Speaker 1: Miller Tayback chief market strategist Matt Melee said the SNP
Speaker 1: five hundred could go as low as three thousand. It
Speaker 1: closed just about thirty seven hundred yesterday. We have some
Speaker 1: personnel news out of Washington this morning. Karen Bloomberg News
Speaker 1: has learned Treasury Secretary Janet Yellen play is to stay
Speaker 1: on after the November elections. Her desire to stay comes
Speaker 1: as the Biden administration prepares for potential cabinet and other
Speaker 1: senior personnel changes. And in corporate news this morning, Nathan
Speaker 1: Amazon is boosting pay for hourly workers in the US.
Speaker 1: The company said the move will raise the average starting
Speaker 1: wage for most frontline employees and warehousing and transportation to
Speaker 1: nineteen dollars an hour. That's the five things that you
Speaker 1: need to know to start your day. Brought to you
Speaker 1: by Interactive Brokers. Again, futures are following this morning and
Speaker 1: straight ahead your latest local headlines plus a check of
Speaker 1: sports and this is Bloomberg all right. Thanks. Hearing at
Speaker 1: six Wall Street, fifty four degrees in Central Park, out
Speaker 1: of crash eas bound four near Decatur Avenue and te
Speaker 1: Neck details in traffic shortly. First Michael Barr with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. The New York City
Speaker 1: Council is deciding whether de band solitary confinement in jails.
Speaker 1: Ben Abosco of the Correction Officers Benevolent Association says the
Speaker 1: notion that we're torturing individuals in our system is not
Speaker 1: the case. However, Democratic City Council member Tiffany Gabon argued,
Speaker 1: we need to know what is the root of the violence.
Speaker 1: The band is opposed by Mayor Eric Adams. It looks
Speaker 1: like the Senate will pass a bill to fund the
Speaker 1: government through mid December, Democratic Representative Jim mcgovernor of Massachusetts
Speaker 1: was asked about the odds of the measure passing by Friday.
Speaker 1: I believe it will. I believe it will. I mean,
Speaker 1: I think it will pass the Senate either today or tomorrow,
Speaker 1: and then it will come right to the House, and
Speaker 1: you know, and we're rep to bring it to the
Speaker 1: floor immediately. And my hope is that after the election,
Speaker 1: we can you know, I know, some of the differences
Speaker 1: and get an omnibus budget pass so that we can
Speaker 1: have funding for the for all of next year and
Speaker 1: we can we can move on. Representative McGovern spoke on
Speaker 1: sound on which air's weekdays at five pm on Bloomberg.
Speaker 1: In a rare show of unity, both parties and the
Speaker 1: Senate agreed to a temporary continuing spending bill that will
Speaker 1: include disaster aid for whether battered Kentucky, Alabama, Texas, Alaska,
Speaker 1: and Puerto Rico. Will let the FDA continue preventing the
Speaker 1: slowdown of reviews of life saving drugs. Vice President Kamala
Speaker 1: Harris captured trip to Asia with a stop at the
Speaker 1: militarized zone dividing the Korean Peninsula. Harris thank US personnel
Speaker 1: at the d m Z for their service, each one
Speaker 1: of you for what you do and what you said.
Speaker 1: Before going to the d m Z, Harris met with
Speaker 1: South Korean President Yun Sak Yol and praised the alliance
Speaker 1: between the countries. Mackenzie Scott, one of the world's richest
Speaker 1: and most influential philanthropists, filed for divorce from Dan Jewitt,
Speaker 1: science teachers she married following her twenty nineteen split from
Speaker 1: Amazon founder Jeff Bezos. One of hip hop's biggest names
Speaker 1: has died. Rapper Coolio, with hits including Gangster Paradise, died
Speaker 1: at the Los Angeles home of a friend. The cause
Speaker 1: of de was not immediately clear. The Grammy winner, whose
Speaker 1: real name was artist Leon Ivy Jr. Also gave us
Speaker 1: other songs, such as Fantastic Voyage. Coolio was fifty nine
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalist and analysts in more than a hundred twenty countries.
Speaker 1: I'm Michael barn this is Bloomberg. Nathan alright, Michael, thank you.
Speaker 1: Almost six thirty six on Wall Street. John Stashowers got
Speaker 1: the Bloomberg Sports Update and Nathan the symmetry kind of remarkable.
Speaker 1: Roger Marris at sixty one home runs in nineteen sixty
Speaker 1: one and now sixty one years later, Aaron Judge has
Speaker 1: joined him Yankee number ninety nine with Yankee number nine,
Speaker 1: only two in American League history with that many homers
Speaker 1: in a seat. That's one thing that's so special about
Speaker 1: the Yankees organization, as all the guys that came before
Speaker 1: us and kind of paved the way and you know,
Speaker 1: played the game the right way, did the things the
Speaker 1: right way, did a lot of great things in this game.
Speaker 1: And getting a chance to me, you know, mentioned with
Speaker 1: those guys now as I can't even describe it. It's uh.
Speaker 1: Judge of course went seven games without a homer, but
Speaker 1: seventh inning in Toronto, facing the Blue Jays, Tim May's
Speaker 1: a liner to left. The ball dropped down into the
Speaker 1: blue Jay's bullpen, caught by Toronto coach Matt Bushman. Yankee
Speaker 1: reliever Zack Britton went into the Jay's penn. Toronto's Jordan
Speaker 1: Romano handed the ball to Britain, who then gave it
Speaker 1: to Judge, who now has seven games left to try
Speaker 1: and hit number six two to break the records starting
Speaker 1: tomorrow against Baltimore, stating Yankee beat the Blue Jays eight
Speaker 1: and three Mets with a huge city field victory comes
Speaker 1: courtesy of edwardo Escobar. Over the last four innings, Estibar
Speaker 1: had three hits and drove in all five met runs
Speaker 1: as they came back from a four nothing deficit beat
Speaker 1: Miami five to four in ten, just as Atlanta lost
Speaker 1: in ten in Washington's the Mets back and sole possession
Speaker 1: of first game ahead of the Brase and now comes
Speaker 1: the three game series starting tomorrow, weather fermitting in Atlanta.
Speaker 1: One met win in the series means they owned a
Speaker 1: tiebreaker when the Jets placed Sunday in Pittsburgh. Zack Wilson
Speaker 1: will make the season debut at quarterback, returning from the
Speaker 1: knee injurance effort in the preseason. Actually what Bloomberg Sports
Speaker 1: Nathan Okay John thanks six thirty seven on Wall Street
Speaker 1: Time Now to take a look at stock some of
Speaker 1: the names moving in the pre market with Bloomberg Radio
Speaker 1: and TV Markets correspondent Crety Gupta and A Crety. Even
Speaker 1: though Hurricane Ian is now a tropical storm, there are
Speaker 1: still a lot of companies that are potentially exposed a
Speaker 1: lot of damage, perhaps already being done, Nathan. Let's start
Speaker 1: off with some of the tourism related companies. Disney, for example,
Speaker 1: d I S Is Your Taker. Well, they actually it
Speaker 1: came out and said that they're going to keep some
Speaker 1: of their hotels open, some of their resorts open to
Speaker 1: help people provide or get shelter from the storm. That
Speaker 1: being said, that still did her revenue, um and that's
Speaker 1: going to be some of the numbers we're gonna be
Speaker 1: waiting for in their next earnings report. D I S
Speaker 1: is Your Taker down about one percent, but it's not
Speaker 1: the only one. Check out some of the cruise lines,
Speaker 1: which of course rely on some of the state ports
Speaker 1: as well, which have been shut down because of the
Speaker 1: hurricane and because of the tropical storm. Nathan, just because
Speaker 1: it is a tropical storm, that doesn't mean that there
Speaker 1: aren't still going to be storm searches or a lot
Speaker 1: of damage so the ports are made. Is that's going
Speaker 1: to affect the bottom line of companies like Carnival Cruise
Speaker 1: Lines secldre taker there down about two point two percent
Speaker 1: in the pre market, and they have got kind of
Speaker 1: a non traditional one for you know, one of the
Speaker 1: things of fertilizer when it comes to Florida necessarily, but
Speaker 1: this is well there you go about nine the cross
Speaker 1: there um. But they all still make fertilizer in in
Speaker 1: in Florida as well. A lot of their kind of assets.
Speaker 1: For Mosaic, which by the way was very much hit
Speaker 1: with the warn Ukraine and the impact on natural gas
Speaker 1: which then is used to help create the fertilizer. Who
Speaker 1: all those operations are right where the hurricane went through.
Speaker 1: The Mosaic actually had to shut down some of their operations.
Speaker 1: Those shares down about three tenths of one percent in
Speaker 1: the pre market. Bloomberg Intelligence actually saying that two hundred
Speaker 1: and forties three hundred million dollars is how much the
Speaker 1: revenue impact could be for that company. We see bitcoin
Speaker 1: back below. How are crypto stocks doing this morning? Well,
Speaker 1: they are fall bowing. Bitcoins lead down about two point
Speaker 1: three percent for coin based c o I N is
Speaker 1: your ticker there no surprise, you're always going to see
Speaker 1: that move magnified when it comes to the exchanges as well.
Speaker 1: You also want to keep an eye on the like
Speaker 1: a box for example, b k KT is your ticker
Speaker 1: um and that was going to the under pressure as well.
Speaker 1: It's down about five of one percent. And I'll wrap
Speaker 1: it up here Nathan with Riots blockshain. Remember the miners
Speaker 1: have that unequal exposure. Usually there's a big movement bitcoint
Speaker 1: it's magnified as the minor so Riot blockchain r IoT
Speaker 1: down about three percent, all right, boom Berg Radio and
Speaker 1: TV Markets correspondent Cretty Gupta keeping an eye on the
Speaker 1: individual movers this morning as we look at stocks as
Speaker 1: a whole. Following SMP future is now down one percent
Speaker 1: to drop a thirty six points down. Futures are lower
Speaker 1: by two U thirty six and NAZAC futures leading the
Speaker 1: declines by one point three percent, a drop of a
Speaker 1: hundred fifty one points. The tenure Treasury is down twenty
Speaker 1: four thirty seconds yield close to three point three percent
Speaker 1: yield on the two year four points. Who's zero nime
Speaker 1: ex screwed, little change now at eighteen of barrel and
Speaker 1: once again Bitcoin is just below twenty nineteen four twenty
Speaker 1: and looking at the British pound at one point zero
Speaker 1: eight four six against the dollar. You're listening to Bloomberg Daybreak,
Speaker 1: Bloomberg eleven three oh Weather sunshine for now upper sixties,
Speaker 1: will have increasing clouds tomorrow, upper sixties, mid sixties for
Speaker 1: the weekend, with the remnants of I n right now
Speaker 1: fifty four degrees in Central Park Markets. Headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's
Speaker 1: a Bloomberg Business Flash, and I'm Karin Moscow in this
Speaker 1: business flash brought to you by the n Y Millen's Pershing.
Speaker 1: Learn why the world's most sophisticated wealth management and institutional
Speaker 1: firms rely on Pershing to help them improve profitability, create efficiency,
Speaker 1: attract talent, and manage risk At Pershing dot Com. Futures
Speaker 1: are lower this morning. Let's go to the First Word
Speaker 1: Breaking news desk for today's morning call, and here's Bill Maloney. Bill,
Speaker 1: good morning and good morning, Karen. That's right. US futures
Speaker 1: are under pressure after yesterday's gains. The Doubt futures down
Speaker 1: two point s SPS drop thirty two, and nas that
Speaker 1: if you just decline by one thirty eight, the US
Speaker 1: ten year old at three point eight three percent. In
Speaker 1: gold is down twelve, oil is climbing, and bitcoin is
Speaker 1: lower by point seven percent. Japan rose one percent overnight,
Speaker 1: while up markets are under pressure this morning with one
Speaker 1: percent losses across the board. Back in the US on
Speaker 1: the economic Frinday thirty initial jobs claims and g d
Speaker 1: P after develops, Nate Jeffrey's revenue beat estimates and regarding
Speaker 1: earnings this morning, look for a bed Bath and Beyond
Speaker 1: and Carmacks the report in the pre market. Wrapping things up,
Speaker 1: Apple was downnggraded to neutral from buy over at Bank
Speaker 1: of America Shares It down two point seven percent in
Speaker 1: the pre market. Live from the first of breaking News
Speaker 1: tescon Bill Milon Karen, Great, Bill, thank you to hear
Speaker 1: live breaking news over here. Bloomberg type squawk on your
Speaker 1: terminal scue you a w K and that's a Bloomberg
Speaker 1: business flash. Now here's Michael Barr with Moore and what's
Speaker 1: going on around the world. Michael, Karen, thank you very much.
Speaker 1: Floridians are awaiting daylight to see the full extent of
Speaker 1: damage still being caused by a hurricane, and more than
Speaker 1: two million customers across Florida I have lost electricity and
Speaker 1: is now a tropical storm. A new filing by former
Speaker 1: President Trump's lawyers says it's not eleven thousand documents of
Speaker 1: pages that were seized by the FBI at the Mara
Speaker 1: Lago of State. They say it is more like two
Speaker 1: hundred thousand pages. Because of that, his attorneys argue they
Speaker 1: need more time to declare what documents they believe are
Speaker 1: covered by attorney client or executive privilege and why. In baseball,
Speaker 1: the Yankees beat the Blue Jay's eight three, but more importantly,
Speaker 1: Aaron Judge hit his sixty first home run, tying Roger
Speaker 1: Merris for the a L record. The Mets, Nationals and
Speaker 1: Giants one, the Red Sox beat the Orioles three one,
Speaker 1: the A's lost. Global news twenty four hours a day
Speaker 1: on and on Bloomberg Quick Take, powered by more than
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: I'm Michael Barr, and this is Bloomberg. Karen Alorry, Michael
Speaker 1: bar Thank you sixty nine on Wall Street. Let's turn
Speaker 1: to news and science and technology now with the Bloomberg
Speaker 1: and j. I. T. Stammer Report. It is brought to
Speaker 1: you buy New Jersey Institute of Technology, ranked one of
Speaker 1: the nation's most research intensive universities by the carnate gate classification.
Speaker 1: Learn more at n j I, T, DOT E, d U,
Speaker 1: slash r one. Here's what's making news and science, technology, engineering,
Speaker 1: and math. Several states have projected a slowdown in sales
Speaker 1: tax growth in the next fiscal year due to shifts
Speaker 1: and consumer spending patterns and high prices. States are likely
Speaker 1: to see sharp drops and income tax collections as stock
Speaker 1: market volatility threatens to wipe out gains. Toyota Motors global
Speaker 1: output recovered for the first time in five months, led
Speaker 1: by gains in overseas markets and in particular Southeast Asia,
Speaker 1: where resurgence of COVID disrupted supply chains a year ago.
Speaker 1: While Toyota still faces a shortage of semiconductors and is
Speaker 1: battling lingering supply chain constraints stemming from the pandemic, the
Speaker 1: situation has improved from twelve months ago, when COVID cases
Speaker 1: were higher, causing factory shutdowns that led to a dearth
Speaker 1: of parts, and soon enough, a bed size Amazon device
Speaker 1: might know whether you're sleeping or not. The e commerce
Speaker 1: and tech giants says it will start selling a device
Speaker 1: later this year that can tract sleeping patterns without a
Speaker 1: wristband The device, called Halo Rise, will use no contact
Speaker 1: sensors and artificial intelligence to measure a user's movement and
Speaker 1: breeding patterns. Amazon said the device does not include cameras
Speaker 1: or microphones, and it will go for a hundred and
Speaker 1: thirty nine dollars ninety nine cents and as a Bloomberg
Speaker 1: n j I T STEM report. Nathan all right, Karen,
Speaker 1: thank you. We are live from the Bloomberg Interactive Broker
Speaker 1: Studios where it's six fifty one on Wall Street. Bloomberg
Speaker 1: Daybreak is brought to you by se I Imagine your
Speaker 1: asset management firms. Operational infrastructure is a competitive advantage. Let
Speaker 1: see I show you how at se I C dot
Speaker 1: com slash I m s Now, it's time to check
Speaker 1: what's going on in d C. Some of the top
Speaker 1: stories in our nation's capital include the US working with
Speaker 1: the International Monetary Fund to deal with market turmoil in
Speaker 1: the UK. Jenny Thomas to be interviewed by the House
Speaker 1: January six Committee House Democrats balking at a plan on
Speaker 1: lawmaker stock trading, and Janet Yell and telling the White
Speaker 1: House she plans to stay past November. Let's bring in Bloomberg.
Speaker 1: Government Congressional reporter Jack Fitzpatrick for more on all of
Speaker 1: these stories. So, Jack, this very interesting piece of the
Speaker 1: Bloomberg terminal this morning about the market volatility in the
Speaker 1: UK and why the Biden administration is concerned about it.
Speaker 1: What is the concern now? Uh, The concern is about
Speaker 1: the tax and spending plans in the UK, the proposed
Speaker 1: annual forty five billion pound tax cuts that are are
Speaker 1: not offset by ending cuts. Uh, sort of almost a
Speaker 1: stimulus package at a time when many economists would say
Speaker 1: that's not the right response in an environment with such
Speaker 1: high inflation. Uh. And so the US government, through the
Speaker 1: International Monetary Fund, has tried to push the Liz Trust
Speaker 1: led government to reevaluate those measures, basically calling on them
Speaker 1: to give that a second thought because of the way
Speaker 1: it could trigger volatility in the markets that they're they're
Speaker 1: concerned could spread from the UK to the US and
Speaker 1: affect the global markets. Uh. So really essentially it's there's
Speaker 1: sort of the opposite of an endorsement of those policies
Speaker 1: by the Trust government, but the US to say the least,
Speaker 1: how much can the U s actually influence UK policy? Though, well,
Speaker 1: this is subject to so much domestic so many domestic
Speaker 1: political concerns in the UK. Uh. It's not something that
Speaker 1: the US can just debate them on and win, but
Speaker 1: it is something that they have felt necessary to raise.
Speaker 1: You know. Gina Romando, the Commerce Secretary here in the US,
Speaker 1: has brought it up and described it misguided as misguided. Uh.
Speaker 1: You know that they've been pretty open about trying to
Speaker 1: communicate that it's difficult to predict what effect that would have,
Speaker 1: and of course, trusts and other leaders in the UK
Speaker 1: are responsive primarily to their own voters. All right, let's
Speaker 1: turn to where you work over on Capitol Hill. Some
Speaker 1: interesting developments of the House January six committee. Even though
Speaker 1: now tropical storm Ian has put the actual public hearings
Speaker 1: on hold, we've got a pretty big development behind the scenes. Yes,
Speaker 1: Jenny Thomas, the wife of Clarence Thomas, is the Supreme
Speaker 1: Court Justice, is supposed to participate in an interview with
Speaker 1: the committee. Uh. The area of concern here is that
Speaker 1: there's a documentation that she had been emailing with John Eastman,
Speaker 1: the lawyer who is advising former President Trump on the
Speaker 1: possibility of overturning the results of election. Uh, that she,
Speaker 1: essentially as an activist, was involved to some degree, which
Speaker 1: raises concerns about if she was using her relationship with
Speaker 1: the Supreme Court justice UH in any way or if
Speaker 1: he was tied in to any degree. UH. They have
Speaker 1: not announced when she's going to participate. There is some
Speaker 1: talk about potentially that happened Friday, but that would be
Speaker 1: a high profile development. Is this Uh investigation continues and
Speaker 1: it's supposed to happen according to Benny Thomas, the chair
Speaker 1: of the committee, at some point this week, We've also
Speaker 1: had a high profile piece of legislation just get unveiled,
Speaker 1: Lawmaker stock Ban, and it's already facing hurdles on Capitol Hill. Yeah,
Speaker 1: it does not sound like a vote is going to
Speaker 1: happen before the House leaves UH for the mid term elections.
Speaker 1: They're going to leave at the end of this week
Speaker 1: and then they're not coming back until later for a
Speaker 1: lamb duck session. UH. Stenny Hoyer, the majority leader, has
Speaker 1: said a vote is not looking likely. UH. There's some
Speaker 1: concern about how this applies to spouses and dependent children, UH,
Speaker 1: and the way it goes beyond strictly members. UH. That's
Speaker 1: that's one of the key points of contention, and that's
Speaker 1: something that's been brought up because Speaker Nancy Pelosi's husband
Speaker 1: Paul Pelosi, has some had some recent transactions that were
Speaker 1: not illegal, but brought some attention to this issue. Uh.
Speaker 1: Pelosi has not commented on exactly where she stands on
Speaker 1: the bill right now, but that's sort of an issue
Speaker 1: that I think has pumped the brakes on the idea
Speaker 1: of voting on this before the midterms. In our last
Speaker 1: minute here, Jack, it looks like Treasury Secretary Janet Yellen
Speaker 1: is trying to put some speculation about her future to rest. Yeah,
Speaker 1: she has said that she is going to continue on
Speaker 1: well passed the November elections. There's an expectation generally that
Speaker 1: there's going to be some turnover in the administration a
Speaker 1: little bit after the elections. Uh, it would be significant
Speaker 1: if she were to leave in the near future, especially
Speaker 1: because of the work to implement the i r S
Speaker 1: funding that was put into place by Congress for for
Speaker 1: greater i r S enforcement work on the international price
Speaker 1: cap on Russian oil expert exports. UH. So she has
Speaker 1: not been the most high profile person for someone of
Speaker 1: her stature, but she will be sticking around for some
Speaker 1: significant amount of time alright. Bloomberg government reporter Jack Fitzpatrick
Speaker 1: covering Congress forests from Capitol Hill. As always, thank you
Speaker 1: for the update, and you can read more about all
Speaker 1: these stories on Bloomberg dot com or on the Bloomberg terminal.
Speaker 1: And a reminder that you can follow all the latest
Speaker 1: on Bloomberg Radio in Washington. Just tuned into Bloomberg one
Speaker 1: and one oh five point seven fm H two. We
Speaker 1: continue to monitor the sell off this morning. After yesterday's
Speaker 1: rally for the SMP five hundred, investors are given some
Speaker 1: of that back now, with SMP futures down thirty points,
Speaker 1: a drop of eight tenths PERCENTAL futures down a hundred
Speaker 1: eighty three. Nasdaq futures leading the declines right now. They're
Speaker 1: lowered by a hundred twenty eight points, or one point
Speaker 1: one percent. The tenure Treasury is down twenty two thirty
Speaker 1: seconds yield three point eight one percent yield on the
Speaker 1: two years four point one nine. Nimex crude is catching
Speaker 1: a bit of a bid now up a half percent
Speaker 1: at eighty two dollars fifty five cents of barrel. Comex
Speaker 1: gold down seven tenths percent sixteen fifty eight forty announced.
Speaker 1: We continue to watch the British pound at one point
Speaker 1: zero eight three seven against the dollar. Bloomberg Surveillance is
Speaker 1: next for for Karen Moscow. I'm Nathan Hagar and this
Speaker 1: is Bloomberg. Good morning,