1 00:00:01,840 --> 00:00:05,080 Speaker 1: From the Bloomberg Interactive Berger Studios. Is is is Bloomberg Day 2 00:00:05,200 --> 00:00:08,879 Speaker 1: Right for Wednesday, November sixty two coming up this hour. 3 00:00:09,200 --> 00:00:12,440 Speaker 1: Panic eases as doubts surface of a whether Russia fired 4 00:00:12,480 --> 00:00:15,800 Speaker 1: a rocket into Poland Donald Trump makes it official, announcing 5 00:00:15,800 --> 00:00:18,959 Speaker 1: your run for president again. Wall Street holds tight for 6 00:00:19,040 --> 00:00:22,239 Speaker 1: fresh data on retail sales and inflation in the UK 7 00:00:22,480 --> 00:00:25,079 Speaker 1: hits a fresh forty one year high. It's going to 8 00:00:25,120 --> 00:00:27,880 Speaker 1: cost more for word cab rode in New York Plus 9 00:00:28,080 --> 00:00:30,960 Speaker 1: and left off a part of this one. NASA begins 10 00:00:31,040 --> 00:00:33,839 Speaker 1: its quest to return to the Moon. I'm Michael Barr 11 00:00:34,080 --> 00:00:36,479 Speaker 1: or ahead, I'm John Stashow and sports a road win 12 00:00:36,600 --> 00:00:38,400 Speaker 1: for the Days, a road loss for the Nets, the 13 00:00:38,440 --> 00:00:41,040 Speaker 1: Devils stay hot, and a free agent is staying with 14 00:00:41,120 --> 00:00:46,800 Speaker 1: the Yankees. That's all Train ahead on Bloomberg day Break 15 00:00:47,159 --> 00:00:51,480 Speaker 1: on Bloomberg e Living Free on New York, Bloomberg N one, Washington, 16 00:00:51,600 --> 00:00:55,200 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine 17 00:00:55,280 --> 00:00:59,560 Speaker 1: sixties and Francisco Syrius Exam one nineteen and around the 18 00:00:59,600 --> 00:01:02,880 Speaker 1: world on Bloomberg Radio dot Com and via the Bloomberg 19 00:01:02,960 --> 00:01:09,600 Speaker 1: Business Side Man. Good morning, I'm Nathan Hacker and I'm 20 00:01:09,640 --> 00:01:11,920 Speaker 1: Karen Moscow, U West dot in Next Future is on 21 00:01:11,959 --> 00:01:13,840 Speaker 1: the rise this morning. We're coming up to five o 22 00:01:13,959 --> 00:01:15,800 Speaker 1: one on Wall Street, and we checked the markets every 23 00:01:15,800 --> 00:01:19,600 Speaker 1: fifteen minutes throughout the trading day. On bloomberg SMP Future 24 00:01:19,640 --> 00:01:21,520 Speaker 1: is up eight and a half points, Dow Future is 25 00:01:21,560 --> 00:01:24,520 Speaker 1: of seventy two Nasdack Future is up twenty one. The 26 00:01:24,600 --> 00:01:27,759 Speaker 1: decks in Germany's down seven tenths of a percent ten. 27 00:01:27,840 --> 00:01:30,759 Speaker 1: Your treasury down eight thirty seconds. The yield three point 28 00:01:30,800 --> 00:01:33,160 Speaker 1: seven nine percent. They yield on the two year four 29 00:01:33,200 --> 00:01:36,400 Speaker 1: point three six percent. Niemex screwed oil is up three 30 00:01:36,400 --> 00:01:38,840 Speaker 1: tens percent or twenty seven cents at eighty seven dollars, 31 00:01:38,920 --> 00:01:41,960 Speaker 1: seventeen cents of barrel COMEX gold up half percent or 32 00:01:42,040 --> 00:01:45,120 Speaker 1: nine dollars ten cents at seventeen eighty five ninety announced 33 00:01:45,280 --> 00:01:47,680 Speaker 1: and the euro one point oh four one six against 34 00:01:47,720 --> 00:01:50,360 Speaker 1: the dollar. Nathan, Thanks Karen. We begin this morning with 35 00:01:50,400 --> 00:01:52,760 Speaker 1: the latest on the rocket strike that killed two people 36 00:01:52,800 --> 00:01:56,040 Speaker 1: in Poland, just over the border from Ukraine. Some leaders 37 00:01:56,040 --> 00:01:59,639 Speaker 1: initially suggested Russia was behind the attack, but President Biden 38 00:01:59,800 --> 00:02:04,000 Speaker 1: is urging caution. There is plumbing information that contests that 39 00:02:04,160 --> 00:02:07,120 Speaker 1: I don't want to say that until we completely investigate. 40 00:02:07,400 --> 00:02:10,680 Speaker 1: But it's unlikely in the minds of the Tree decord 41 00:02:10,840 --> 00:02:13,760 Speaker 1: that it was fired from Russian. But well, we'll see. 42 00:02:14,200 --> 00:02:17,480 Speaker 1: President Biden spoke from the G twenty summit in Bali, Indonesia. 43 00:02:17,520 --> 00:02:20,960 Speaker 1: Bloombergs Rosaland Matheson is there and has more on the situation. 44 00:02:21,400 --> 00:02:23,639 Speaker 1: It seems that there are doubts growing that in fact 45 00:02:23,720 --> 00:02:27,200 Speaker 1: it was even potentially a rocket that was fired by 46 00:02:27,280 --> 00:02:30,480 Speaker 1: Russia from Russia. Um, and of course there are questions 47 00:02:30,520 --> 00:02:33,360 Speaker 1: about whether it was in fact it's something that might 48 00:02:33,400 --> 00:02:37,320 Speaker 1: have been deflected by Ukrainian anti missile defenses or indeed, 49 00:02:37,320 --> 00:02:39,800 Speaker 1: if it was from Russia, perhaps it was a misfar 50 00:02:40,000 --> 00:02:43,880 Speaker 1: and unintentional. Either way, the message very clearly coming from 51 00:02:44,000 --> 00:02:46,560 Speaker 1: leaders here, be they from Europe, the US, or the 52 00:02:46,560 --> 00:02:50,480 Speaker 1: Turkish president Urduwan a short time ago, is that they 53 00:02:50,520 --> 00:02:54,639 Speaker 1: don't think this needs to sort of escalate tensions directly 54 00:02:54,720 --> 00:02:58,400 Speaker 1: with Russia. Bloomberg's Rons Matheson reports President Biden is pledging 55 00:02:58,400 --> 00:03:01,520 Speaker 1: his full support for Poland's investor stigation into the rocket strike. 56 00:03:02,040 --> 00:03:05,440 Speaker 1: Well Nathan, NATO ambassadors are meeting in Brussels for emergency 57 00:03:05,520 --> 00:03:08,920 Speaker 1: talks away their response, Former Defense Secretary Mark Asper is 58 00:03:08,960 --> 00:03:12,760 Speaker 1: making the case for bolstering Ukraine's air defenses. Think about 59 00:03:12,760 --> 00:03:15,080 Speaker 1: how far this Russian missile would have had to travel 60 00:03:15,120 --> 00:03:20,240 Speaker 1: across Ukraine to pass into the Polish border. The renumerous 61 00:03:20,240 --> 00:03:23,079 Speaker 1: officers to shoot this thing down, and so I think 62 00:03:23,080 --> 00:03:25,720 Speaker 1: we it's a call to accelerate the provision of air 63 00:03:25,760 --> 00:03:29,040 Speaker 1: defenses to Ukraine as well. And former Defense Secretary Mark 64 00:03:29,200 --> 00:03:32,560 Speaker 1: Esper spoke with our Washington correspondent Joe Matthew late yesterday 65 00:03:32,600 --> 00:03:35,480 Speaker 1: on Bloomberg sound On. Catch the show weekdays at five 66 00:03:35,480 --> 00:03:38,120 Speaker 1: pm Eastern on Bloomberg Radio. All right, let's turn to 67 00:03:38,200 --> 00:03:40,960 Speaker 1: politics back home in the US, Karen, because a familiar 68 00:03:41,040 --> 00:03:44,080 Speaker 1: name is front and center this morning, Former President Donald 69 00:03:44,080 --> 00:03:47,680 Speaker 1: Trump has officially entered the four race for the White House. 70 00:03:47,960 --> 00:03:51,600 Speaker 1: Amy Morris has the latest from our Bloomberg newsroom in Washington. 71 00:03:51,880 --> 00:03:55,360 Speaker 1: His campaign filed the paperwork just minutes before Donald Trump 72 00:03:55,360 --> 00:03:58,400 Speaker 1: announced his candidacy and a third run for the White House. 73 00:03:58,480 --> 00:04:04,920 Speaker 1: My fellow citizens, America's comeback starts right now. Trump made 74 00:04:04,960 --> 00:04:08,000 Speaker 1: the announcement as many Republicans are moving away from him, 75 00:04:08,040 --> 00:04:10,520 Speaker 1: many in the party asking him to wait until after 76 00:04:10,560 --> 00:04:13,280 Speaker 1: the Senate race is settled in Georgia. As many Trump 77 00:04:13,360 --> 00:04:16,320 Speaker 1: endorsed candidates in the mid terms were rejected by voters. 78 00:04:16,480 --> 00:04:20,160 Speaker 1: Trump claimed America will decline unless he's reelected. This will 79 00:04:20,200 --> 00:04:25,159 Speaker 1: not be my campaign, this will be our campaign altogether. 80 00:04:25,279 --> 00:04:27,760 Speaker 1: While Trump may have wanted to freeze out other Republicans 81 00:04:27,800 --> 00:04:32,200 Speaker 1: eyeing a presidential run, Republican strategists belief potential challengers are 82 00:04:32,240 --> 00:04:35,960 Speaker 1: now emboldened. In Washington, I'm Amy Moore as Bloomberg Daybreak. 83 00:04:36,040 --> 00:04:38,240 Speaker 1: All right, Amy, thank you. Let's turn to the economy now, 84 00:04:38,240 --> 00:04:40,479 Speaker 1: where we get a key reading on retail sales. This 85 00:04:40,560 --> 00:04:43,520 Speaker 1: morning forecast call for a gain of one percent in October, 86 00:04:43,600 --> 00:04:47,400 Speaker 1: and Bloomberg Economics corresponded. Michael McKee has more the headline 87 00:04:47,480 --> 00:04:50,680 Speaker 1: change in retail sales for October is likely to be misleading. 88 00:04:50,880 --> 00:04:54,359 Speaker 1: Gasoline prices were up, adding to sales, and many in 89 00:04:54,440 --> 00:04:59,159 Speaker 1: Florida were replacing hurricane damaged cars. It's core retail sales 90 00:04:59,320 --> 00:05:03,040 Speaker 1: excluding gas, cars and building materials that will matter, and 91 00:05:03,080 --> 00:05:07,360 Speaker 1: their economists are anticipating a slowdown. Gains at department stores, 92 00:05:07,400 --> 00:05:10,680 Speaker 1: food stores, and general merchandise stores will be boosted by 93 00:05:10,760 --> 00:05:15,400 Speaker 1: inflation rather than increased purchases. Red Book Research reported a 94 00:05:15,520 --> 00:05:19,240 Speaker 1: soft weekly sales index, and the New York Fed reports 95 00:05:19,240 --> 00:05:22,760 Speaker 1: Americans are turning from savings to credit cards to keep spending, 96 00:05:23,080 --> 00:05:27,280 Speaker 1: which is likely unsustainable. Michael McKee, Bloomberg Daybreak. All right, Mike, 97 00:05:27,279 --> 00:05:29,520 Speaker 1: thanks that retail sales report will be one of many. 98 00:05:29,600 --> 00:05:32,840 Speaker 1: The FED watches. FED Vice Chair for Supervision Michael bar 99 00:05:32,960 --> 00:05:35,560 Speaker 1: cautions the economy will surely take a hit as the 100 00:05:35,600 --> 00:05:39,360 Speaker 1: central bank confronts high inflation. Inflation right now is far 101 00:05:39,400 --> 00:05:41,800 Speaker 1: too high. I think that it's the case that we're 102 00:05:41,800 --> 00:05:45,200 Speaker 1: going to see significant softening in the economy. FED Vice 103 00:05:45,240 --> 00:05:47,599 Speaker 1: Chair for Supervision Michael Barr made those comments to the 104 00:05:47,640 --> 00:05:51,279 Speaker 1: Senate Banking Committee in Washington. Meantime, across the Pond, Nathan, 105 00:05:51,279 --> 00:05:54,520 Speaker 1: inflation is also in focus. Prices in the UK have 106 00:05:54,560 --> 00:05:56,440 Speaker 1: now hit a forty one year high, and we get 107 00:05:56,440 --> 00:05:59,479 Speaker 1: the details from Bloomberry's Lizzie Burden in London has been 108 00:05:59,560 --> 00:06:03,840 Speaker 1: driven by gas and electricity prices. That is the biggest contributor, 109 00:06:04,000 --> 00:06:07,280 Speaker 1: despite the government's support. But it's also food that's the 110 00:06:07,320 --> 00:06:11,600 Speaker 1: second biggest contribution, also housing and household services. And our 111 00:06:11,680 --> 00:06:14,919 Speaker 1: economists at Bloomberg Economics say the Bank of England isn't 112 00:06:14,960 --> 00:06:17,320 Speaker 1: likely to take its foot off the break in terms 113 00:06:17,320 --> 00:06:21,800 Speaker 1: of interest rate rises until services inflation drops back towards 114 00:06:21,880 --> 00:06:25,520 Speaker 1: its long term average. Bloomberg Slizzy Burden reports the UK's 115 00:06:25,560 --> 00:06:29,040 Speaker 1: consumer prices index for October rose at an annual rate 116 00:06:29,040 --> 00:06:31,800 Speaker 1: of eleven point one per cent. Let's turn back to 117 00:06:31,839 --> 00:06:34,159 Speaker 1: the U S and some corporate news this morning. Karen 118 00:06:34,240 --> 00:06:37,680 Speaker 1: Elon Musk is in the spotlight again. The Washington Post 119 00:06:37,760 --> 00:06:40,599 Speaker 1: is reporting the Musk told Twitter employees they must either 120 00:06:40,640 --> 00:06:43,960 Speaker 1: commit to a new quote hardcore Twitter, or they should 121 00:06:44,000 --> 00:06:46,360 Speaker 1: leave the company. The paper says employees have to click 122 00:06:46,360 --> 00:06:49,440 Speaker 1: a link to confirm commitment to the new Twitter by tomorrow. 123 00:06:49,520 --> 00:06:52,960 Speaker 1: If they don't, they'll receive three months of severance pay. 124 00:06:53,040 --> 00:06:55,080 Speaker 1: And now the latest on the collapse of ft X. 125 00:06:55,160 --> 00:06:57,760 Speaker 1: Nathan Bloomberg News has learned authorities in the US and 126 00:06:57,800 --> 00:07:01,359 Speaker 1: the Bahamas are discussing possibly bring Sam Bankman free to 127 00:07:01,400 --> 00:07:05,200 Speaker 1: the US for questioning. Sources say the conversations between officials 128 00:07:05,240 --> 00:07:08,400 Speaker 1: and the two countries have intensified in recent days as 129 00:07:08,400 --> 00:07:11,720 Speaker 1: they probe his role in the implosion of cryptocurrency firm 130 00:07:12,120 --> 00:07:15,880 Speaker 1: f t X. Straight Ahead your latest local headlines plus 131 00:07:15,880 --> 00:07:23,480 Speaker 1: a check of sports, and this is Bloomberg, all right, thanks, 132 00:07:23,520 --> 00:07:25,440 Speaker 1: paren It's five oh seven on Wall Street. Word forty 133 00:07:25,480 --> 00:07:27,960 Speaker 1: three degrees in Central Park looking for sunshine and low 134 00:07:28,040 --> 00:07:30,400 Speaker 1: fifties for highs today. I gotta crash on the southbound 135 00:07:30,400 --> 00:07:32,200 Speaker 1: New England thru Way in your exit six. Team will 136 00:07:32,200 --> 00:07:35,040 Speaker 1: tell you more in traffic First, Michael Barr is here 137 00:07:35,040 --> 00:07:36,640 Speaker 1: with what else is going on in New York and 138 00:07:36,680 --> 00:07:39,280 Speaker 1: around the world the morning. Michael, Good morning Nathan. Once 139 00:07:39,360 --> 00:07:42,640 Speaker 1: you hail a taxi, it's going to cost more. New 140 00:07:42,720 --> 00:07:45,280 Speaker 1: York City cab writers will see a twenty three percent 141 00:07:45,400 --> 00:07:49,080 Speaker 1: increase in metered fairs. It's the first hike since twenty 142 00:07:49,160 --> 00:07:53,160 Speaker 1: twelve following a vote from the city's Taxi and Limousine Commission. 143 00:07:53,560 --> 00:07:57,360 Speaker 1: The TLC also says passengers will also face an increase 144 00:07:57,640 --> 00:08:00,880 Speaker 1: in rush hour and overnight search ard is and airport 145 00:08:00,920 --> 00:08:04,760 Speaker 1: flat rates. The increases will also affect per mile and 146 00:08:04,840 --> 00:08:07,920 Speaker 1: permanent rates for Uber and Lift, and are expected to 147 00:08:07,920 --> 00:08:11,520 Speaker 1: go into effect before year end. The battle for Republican 148 00:08:11,600 --> 00:08:15,720 Speaker 1: leadership in the next session continues, Bloomberg said. Baxter reports 149 00:08:15,960 --> 00:08:18,760 Speaker 1: Senator Rick Scott has told fellow GOP senators he will 150 00:08:18,840 --> 00:08:22,400 Speaker 1: challenge Senate Minority leader Mitch McConnell to be leader of 151 00:08:22,440 --> 00:08:25,480 Speaker 1: the Party in the Chamber next year, and he immediately 152 00:08:25,600 --> 00:08:28,400 Speaker 1: made the death limit his keystone issue for the moment, 153 00:08:28,760 --> 00:08:32,240 Speaker 1: saying it can't be done until Democrats agree to federal 154 00:08:32,280 --> 00:08:35,480 Speaker 1: spending cuts. McConnell says he has the votes to remain 155 00:08:35,640 --> 00:08:39,600 Speaker 1: Senate GOP leader. Meanwhile, Kevin McCarthy is one preliminary support 156 00:08:39,600 --> 00:08:41,880 Speaker 1: of the GOP two be House speaker. He will need 157 00:08:41,920 --> 00:08:43,480 Speaker 1: to get a majority of the votes in the House 158 00:08:43,480 --> 00:08:46,640 Speaker 1: to be elected in the new term. In San Francisco, 159 00:08:46,640 --> 00:08:50,480 Speaker 1: I'm at Baxter Bloomberg Gay Break, Environmental activists and public 160 00:08:50,480 --> 00:08:54,120 Speaker 1: officials rallied in front of New York Governor Kenthy Oakele's 161 00:08:54,120 --> 00:08:57,040 Speaker 1: Manhattan office, calling for her to sign a bill that 162 00:08:57,080 --> 00:09:00,840 Speaker 1: would institute a two year state man on some cryptocurrency 163 00:09:00,960 --> 00:09:05,120 Speaker 1: mining facilities. The bill, approved by the State Senate in June, 164 00:09:05,200 --> 00:09:08,920 Speaker 1: would trigger a two year moratorium on new permits for 165 00:09:09,120 --> 00:09:13,160 Speaker 1: crypto plants that are powered by fossil fuels. If Hocal 166 00:09:13,320 --> 00:09:15,560 Speaker 1: signs the measure, it would become one of the most 167 00:09:15,559 --> 00:09:19,800 Speaker 1: restrictive laws in the US regulating the practice. The US 168 00:09:19,920 --> 00:09:23,040 Speaker 1: is heading back to the Moon. NASA launched its first 169 00:09:23,160 --> 00:09:27,400 Speaker 1: Artemus rocket overnight from Cape Canaveral, Florida, and lift off 170 00:09:27,400 --> 00:09:31,080 Speaker 1: of Artemus one, we rise together back to the boon 171 00:09:31,520 --> 00:09:36,360 Speaker 1: and beyond. The unmanned, multibillion dollar rocket mission will go 172 00:09:36,440 --> 00:09:39,600 Speaker 1: around the Moon and back. If successful, it will eventually 173 00:09:39,640 --> 00:09:42,520 Speaker 1: return astronauts to the Moon for the first time since 174 00:09:42,559 --> 00:09:46,520 Speaker 1: Apolo ended. In n Global News twenty four hours a 175 00:09:46,600 --> 00:09:50,120 Speaker 1: day on air and on Bloomberg Quicktake, powered by more 176 00:09:50,160 --> 00:09:52,719 Speaker 1: than twenty seven hundred journalists and analysts more than a 177 00:09:52,760 --> 00:09:56,199 Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg, Nathan. 178 00:09:56,280 --> 00:10:03,200 Speaker 1: Thank you, Michael, almost five cent on all Street time 179 00:10:03,240 --> 00:10:04,800 Speaker 1: for the Bloomberg Sports out Day, brought to you by 180 00:10:04,800 --> 00:10:07,079 Speaker 1: Try State out Here. Good morning, John Stshow, Good morning, 181 00:10:07,120 --> 00:10:09,400 Speaker 1: Nathan Nixon. Nets are both out West. I win for 182 00:10:09,400 --> 00:10:12,040 Speaker 1: the next as they began a challenging five game trip. 183 00:10:12,080 --> 00:10:15,560 Speaker 1: They beat Utah one eighteen one eleven Jalen Brunson twenty 184 00:10:15,600 --> 00:10:18,400 Speaker 1: five points with eight assists. The Knicks rebound from that 185 00:10:18,480 --> 00:10:21,440 Speaker 1: horrific defensive outing and I lost this past Sunday. Speaking 186 00:10:21,440 --> 00:10:24,960 Speaker 1: of horrific defense, most points the Nets have ever allowed, 187 00:10:25,040 --> 00:10:30,120 Speaker 1: Sacramento shot the Kings won one fifty three to one one. 188 00:10:30,160 --> 00:10:32,920 Speaker 1: The King's Terrence Davis, who came in averaging six points 189 00:10:32,920 --> 00:10:35,960 Speaker 1: a game, scored thirty one make it ten straight wins 190 00:10:35,960 --> 00:10:38,080 Speaker 1: for the Devil's two goals for jack Us and at 191 00:10:38,120 --> 00:10:40,360 Speaker 1: five one win at Montreal St. John's now three and 192 00:10:41,360 --> 00:10:44,480 Speaker 1: seventy four home win over Central Connecticut. Big double header 193 00:10:44,720 --> 00:10:48,840 Speaker 1: in Indianapolis, Kansas beat Duke after Michigan State upset Kentucky 194 00:10:48,920 --> 00:10:51,880 Speaker 1: double overtime. Also colgate to the second Street year one 195 00:10:52,320 --> 00:10:56,400 Speaker 1: at Syracuse. A Yankee free agent slugger staying with the team. 196 00:10:56,520 --> 00:10:58,520 Speaker 1: It's not Aaron Judy, don't know yet about him, but 197 00:10:58,559 --> 00:11:01,160 Speaker 1: Anthony Rizzo, who thirty two home run to the new 198 00:11:01,200 --> 00:11:04,440 Speaker 1: two year deal forty million guarantee the Mets Bucks show 199 00:11:04,480 --> 00:11:06,760 Speaker 1: Alter named National Legue Manager of the Year. Was a 200 00:11:06,760 --> 00:11:09,160 Speaker 1: close vote, but he's now one manager of the year 201 00:11:09,200 --> 00:11:12,520 Speaker 1: four times with four different teams. Former Giants grade Eli 202 00:11:12,600 --> 00:11:16,280 Speaker 1: Manning on Bloomberg Radio yesterday to discussed his private equity group. 203 00:11:16,280 --> 00:11:19,439 Speaker 1: He also waited on the surprising success of his former team. 204 00:11:19,559 --> 00:11:21,960 Speaker 1: David Jones is playing great, State Kwon is running off, 205 00:11:22,280 --> 00:11:25,280 Speaker 1: running hard, defense is playing well so and the most 206 00:11:25,280 --> 00:11:28,680 Speaker 1: important thing they're finding ways to win close games. And 207 00:11:28,720 --> 00:11:31,240 Speaker 1: they're find ways to close games out. And that's something 208 00:11:31,240 --> 00:11:33,080 Speaker 1: we have they will do for a while. And and 209 00:11:33,240 --> 00:11:35,160 Speaker 1: what that does it also this prepares me for late 210 00:11:35,200 --> 00:11:37,240 Speaker 1: in the year. You're gonna have these close games. Can 211 00:11:37,280 --> 00:11:39,840 Speaker 1: you win them? They're they're they're kind of tried and tested, 212 00:11:39,880 --> 00:11:41,880 Speaker 1: and I think it's gonna be a good run. John. 213 00:11:42,000 --> 00:11:43,679 Speaker 1: For seven and two, they had been in first place 214 00:11:43,720 --> 00:11:46,160 Speaker 1: in six divisions in their division. They're one game bo 215 00:11:46,640 --> 00:11:49,920 Speaker 1: John Stashewer, Bloomberg Sports. Nathan, all right, John, thank you 216 00:11:50,000 --> 00:11:52,559 Speaker 1: right now. SMP features are hired by thirteen points, down 217 00:11:52,600 --> 00:11:55,160 Speaker 1: features up a hundred six, nansat features on the rise 218 00:11:55,600 --> 00:11:58,160 Speaker 1: by forty points, and the Tanger Treasury is down down 219 00:11:58,320 --> 00:12:01,920 Speaker 1: six thirty seconds. The yield three point seven nine percent. 220 00:12:02,400 --> 00:12:08,679 Speaker 1: You're listening to Bloomberg Gate. Bloomberg Sports was brought to 221 00:12:08,720 --> 00:12:10,679 Speaker 1: you by Audie. Don't let someone else drive off in 222 00:12:10,720 --> 00:12:13,280 Speaker 1: the autie model you've always wanted. Visit your local price 223 00:12:13,320 --> 00:12:15,920 Speaker 1: state autie dealer to get behind the wheel of yours today, 224 00:12:16,040 --> 00:12:22,560 Speaker 1: or visit autie Offers dot com for more information, markets, 225 00:12:22,640 --> 00:12:25,720 Speaker 1: headlines and breaking news twenty four hours a day at 226 00:12:25,760 --> 00:12:29,680 Speaker 1: Bloomberg dot com, The Bloomberg Business Outland at Bloomberg Quick Take, 227 00:12:29,960 --> 00:12:39,319 Speaker 1: this is a Bloomberg business lash, and I'm Karin Moscow. 228 00:12:39,440 --> 00:12:43,280 Speaker 1: US stock index futures are rising as panic subsides that 229 00:12:43,360 --> 00:12:46,000 Speaker 1: a rocket which struck inside the Polish border came from 230 00:12:46,080 --> 00:12:49,240 Speaker 1: Russia and marked an escalation in the Ukrainian War. We 231 00:12:49,320 --> 00:12:51,800 Speaker 1: checked the markets every fifteen minutes throughout the trading day 232 00:12:51,880 --> 00:12:54,439 Speaker 1: on Bloomberg. Right now is in P futures of fifteen 233 00:12:54,480 --> 00:12:58,360 Speaker 1: points down futures of d NASDACK futures of forty eight 234 00:12:58,440 --> 00:13:01,199 Speaker 1: The decks in Germany's down half per cent. Can your 235 00:13:01,200 --> 00:13:04,200 Speaker 1: treasury down six thirty seconds heal three point seven nine 236 00:13:04,240 --> 00:13:06,600 Speaker 1: percent They yield on a two year four point three 237 00:13:06,640 --> 00:13:09,600 Speaker 1: five percent. Nimex Screwed oil is up about a third 238 00:13:09,880 --> 00:13:11,880 Speaker 1: per cent, or thirty two cents at eighty seven dollars, 239 00:13:11,920 --> 00:13:14,680 Speaker 1: twenty four cents of barrel comic scold up six tents 240 00:13:14,679 --> 00:13:17,760 Speaker 1: percent or ten dollars eighty cents at seventeen eighty seven 241 00:13:17,840 --> 00:13:20,680 Speaker 1: sixty announced the euro one point oh four and three 242 00:13:20,720 --> 00:13:23,720 Speaker 1: six against the dollar. British found one point one zero 243 00:13:24,080 --> 00:13:26,280 Speaker 1: and again one thirty nine point to five. And that's 244 00:13:26,280 --> 00:13:29,040 Speaker 1: a Bloomberg business flash. Now Here's Michael Barr with more 245 00:13:29,120 --> 00:13:31,480 Speaker 1: on what's going on around the world. Michael, good morning, 246 00:13:31,559 --> 00:13:35,120 Speaker 1: Good morning Karen. President Biden and key European leaders are 247 00:13:35,200 --> 00:13:38,640 Speaker 1: urgent caution after a rocket struck a Polish village just 248 00:13:38,840 --> 00:13:42,320 Speaker 1: over the border from Ukraine, killing two people. However, there 249 00:13:42,360 --> 00:13:46,160 Speaker 1: are doubts whether Russia was to blame, and Biden told 250 00:13:46,200 --> 00:13:48,960 Speaker 1: allies in Ballet that the rocket may have been from 251 00:13:49,080 --> 00:13:53,280 Speaker 1: Ukraine's defense. Will have more on that straight ahead. Former 252 00:13:53,320 --> 00:13:56,439 Speaker 1: President Trump announced last night that he is formally launching 253 00:13:56,480 --> 00:13:59,480 Speaker 1: his four bid for the White House. The US is 254 00:13:59,480 --> 00:14:01,680 Speaker 1: heading back to the Moon for the first time in 255 00:14:01,800 --> 00:14:06,760 Speaker 1: five decades. NASA successfully launched the Artemis mission overnight from Florida. 256 00:14:07,080 --> 00:14:09,280 Speaker 1: In the NBA. Of the next one, the Nets lost 257 00:14:09,360 --> 00:14:12,720 Speaker 1: to the Kings one fifty three one one. In the NHL, 258 00:14:12,840 --> 00:14:16,120 Speaker 1: the Devils won their tenth straight The Capital's lost. Global 259 00:14:16,160 --> 00:14:18,800 Speaker 1: News twenty four hours a day on air and on 260 00:14:18,840 --> 00:14:22,560 Speaker 1: Bloomberg Quickdake, powered by more than twenty seven hundred journalists 261 00:14:22,560 --> 00:14:25,200 Speaker 1: analysts more than a hundred twenty countries. Michael Barr and 262 00:14:25,320 --> 00:14:28,120 Speaker 1: this is Bloomberg. Nathan Okay, Michael, Thanks, It's five nineteen 263 00:14:28,120 --> 00:14:30,920 Speaker 1: on Wall Street Live. From the Bloomberg Interactive Broker Studios. 264 00:14:30,920 --> 00:14:32,680 Speaker 1: This is Bloomberg day Break. We want to get right 265 00:14:32,680 --> 00:14:36,520 Speaker 1: over to Bloomberg News Executive editor for International Government, Rosalind mathieson. 266 00:14:36,640 --> 00:14:39,320 Speaker 1: She's in Bali, Indonesia for the G twenty summit, but 267 00:14:39,360 --> 00:14:42,640 Speaker 1: of course following the very latest developments on this rocket 268 00:14:42,720 --> 00:14:46,160 Speaker 1: strike into Poland late yesterday, Roz, good morning. I want 269 00:14:46,160 --> 00:14:49,760 Speaker 1: to get more on what Michael just mentioned that reportedly 270 00:14:49,760 --> 00:14:54,400 Speaker 1: President Biden is telling allies that Ukrainian air defenses caused 271 00:14:54,480 --> 00:14:58,280 Speaker 1: that explosion. What more are we hearing, Well, that's right. 272 00:14:58,320 --> 00:15:02,040 Speaker 1: We actually had some indications of this earlier today. A 273 00:15:02,120 --> 00:15:05,520 Speaker 1: number of hours after this rocket landed over the Ukrainian 274 00:15:05,520 --> 00:15:09,520 Speaker 1: border into Poland, some some officials were starting to say, well, 275 00:15:09,560 --> 00:15:12,680 Speaker 1: it's less clear cut than the idea that Russia deliberately 276 00:15:12,760 --> 00:15:16,760 Speaker 1: fired this over the border and hit this Polidge, Polish village, 277 00:15:16,840 --> 00:15:20,320 Speaker 1: and it was either probably an accident or it could 278 00:15:20,360 --> 00:15:23,320 Speaker 1: have actually been that this was sort of the knock 279 00:15:23,360 --> 00:15:27,000 Speaker 1: on effect of Ukrainian anti missile defenses. There were obviously 280 00:15:27,040 --> 00:15:31,680 Speaker 1: mobilized heavily yesterday because Russia unleashed a massive barrage of 281 00:15:31,720 --> 00:15:35,200 Speaker 1: missiles across the entire country again taking out some very 282 00:15:35,280 --> 00:15:38,760 Speaker 1: key infrastructure, particularly on the energy side, and so this 283 00:15:38,840 --> 00:15:41,720 Speaker 1: seems to have been one of those terrible accidents that 284 00:15:41,800 --> 00:15:45,920 Speaker 1: happened in conjunction with that. Of course, it does sort 285 00:15:45,920 --> 00:15:49,840 Speaker 1: of leave things in a slightly awkward position because there 286 00:15:49,840 --> 00:15:53,160 Speaker 1: was initially talk that Poland might sort of start to 287 00:15:53,200 --> 00:15:55,560 Speaker 1: do article for under NATO, which is a really big 288 00:15:55,680 --> 00:15:59,600 Speaker 1: NATO conversation about potential steps and so on. There obviously 289 00:15:59,600 --> 00:16:02,400 Speaker 1: will really have to walk some of that back now 290 00:16:02,840 --> 00:16:06,440 Speaker 1: that the narrative is that in any case, and this 291 00:16:06,600 --> 00:16:09,040 Speaker 1: is that really this would not have happened if Russia 292 00:16:09,080 --> 00:16:12,440 Speaker 1: had not invaded Ukraine in the first place. Um. And 293 00:16:12,520 --> 00:16:15,200 Speaker 1: this comes after, you know, when our nine months of 294 00:16:15,280 --> 00:16:19,120 Speaker 1: borne out and relentless attacks UM from Russia on the 295 00:16:19,160 --> 00:16:21,760 Speaker 1: missile side, and so at some point an accident like 296 00:16:21,840 --> 00:16:25,160 Speaker 1: this possibly was was yet to happen. Um. And so 297 00:16:25,880 --> 00:16:29,040 Speaker 1: either way, it doesn't really change things in terms of 298 00:16:29,160 --> 00:16:32,800 Speaker 1: the relationship between NATO states and Ukraine. They'll probably see 299 00:16:32,800 --> 00:16:36,280 Speaker 1: this if it's proven to be an unfortunate accident. Well, 300 00:16:36,320 --> 00:16:40,240 Speaker 1: where could the response go from here? Rise you mentioned 301 00:16:40,280 --> 00:16:43,480 Speaker 1: the possibility of article for discussions. I think a lot 302 00:16:43,520 --> 00:16:45,760 Speaker 1: of our listeners are familiar with Article five of the 303 00:16:45,840 --> 00:16:48,840 Speaker 1: NATO Charter. It's been discussed many times, but what would 304 00:16:48,880 --> 00:16:53,640 Speaker 1: an article for invocation in town. Well, all that really 305 00:16:53,640 --> 00:16:56,960 Speaker 1: does is start a big process of discussion within NATO states. 306 00:16:57,000 --> 00:16:59,280 Speaker 1: It means that one NATO member wants to have a 307 00:16:59,320 --> 00:17:02,280 Speaker 1: proper dial with the rest of the of the nature 308 00:17:02,400 --> 00:17:07,320 Speaker 1: universe about an issue that pertains particularly to their national security. 309 00:17:07,359 --> 00:17:10,080 Speaker 1: And what it probably would look like is Poland saying 310 00:17:10,119 --> 00:17:13,080 Speaker 1: that being on the periphery of both Ukraine and Russia 311 00:17:13,760 --> 00:17:16,840 Speaker 1: for months now, watching this conflict and feeling very uneasy 312 00:17:16,880 --> 00:17:18,920 Speaker 1: about it, that they would like to have a greater 313 00:17:19,000 --> 00:17:22,800 Speaker 1: discussion with NATO about support from them in terms of 314 00:17:22,840 --> 00:17:26,440 Speaker 1: greater military assets, perhaps inside Poland, troops on the ground 315 00:17:26,440 --> 00:17:29,520 Speaker 1: and so on, but particularly better support in the air, 316 00:17:30,080 --> 00:17:34,520 Speaker 1: monitoring and defense um and surveillance of things that might 317 00:17:34,560 --> 00:17:37,880 Speaker 1: be close by, rockets and so on, and the ability 318 00:17:37,920 --> 00:17:41,639 Speaker 1: to better defend themselves from an air perspective. So they 319 00:17:41,640 --> 00:17:44,240 Speaker 1: are either way, we would probably like to have that conversation, 320 00:17:44,440 --> 00:17:46,760 Speaker 1: and whatever cause this incident, it certainly could be a 321 00:17:46,800 --> 00:17:50,120 Speaker 1: springing board for them to do so. Um And it's 322 00:17:50,119 --> 00:17:52,439 Speaker 1: not just Poland, really, it's other states that are very 323 00:17:52,520 --> 00:17:55,199 Speaker 1: very close to either Ukraine or Russia. That's saying that 324 00:17:55,240 --> 00:17:58,160 Speaker 1: they simply need better attention from NATO as a home 325 00:17:58,760 --> 00:18:00,760 Speaker 1: as a whole when it comes to their air defense. 326 00:18:01,200 --> 00:18:05,240 Speaker 1: Could this lead to changes in a NATO's pasture when 327 00:18:05,280 --> 00:18:08,639 Speaker 1: it comes to support for Ukraine. We spoke with former 328 00:18:08,640 --> 00:18:12,480 Speaker 1: Defense Secretary Mark Esper as the details of this incident 329 00:18:12,480 --> 00:18:15,119 Speaker 1: were unfolding. He was making the case that this should 330 00:18:15,800 --> 00:18:19,600 Speaker 1: lead NATO and its allies to bolster Ukraine's air defenses 331 00:18:19,800 --> 00:18:24,240 Speaker 1: even further. Is that something that's being discussed. Well, you 332 00:18:24,280 --> 00:18:26,960 Speaker 1: can say that NATO states have been very, very reluctant 333 00:18:27,080 --> 00:18:29,280 Speaker 1: to do anything that they that they worry would bring 334 00:18:29,280 --> 00:18:33,840 Speaker 1: them into direct confrontation, direct conflict with Russia throughout this 335 00:18:33,920 --> 00:18:36,679 Speaker 1: war so far, and that's why they've been reluctant to 336 00:18:36,720 --> 00:18:39,840 Speaker 1: send in certain kinds of very long range missile systems 337 00:18:40,080 --> 00:18:43,880 Speaker 1: or very modern fighter jets. And while even though Ukraine 338 00:18:43,880 --> 00:18:47,720 Speaker 1: has asked repeatedly for a possible air defense zone over 339 00:18:47,800 --> 00:18:51,160 Speaker 1: at least part of its airspace, NATO has always said no, 340 00:18:51,320 --> 00:18:54,800 Speaker 1: because that really means you've got NATO fighter deets policing 341 00:18:55,320 --> 00:18:59,359 Speaker 1: ukraine air space and coming into direct confrontation potentially with 342 00:18:59,480 --> 00:19:02,480 Speaker 1: Russian of jets. So you can imagine that despite this incident, 343 00:19:02,520 --> 00:19:05,280 Speaker 1: there's going to be a high reluctance still to actually 344 00:19:05,440 --> 00:19:09,880 Speaker 1: enact any kind of air zone over Ukraine might facilitate 345 00:19:09,960 --> 00:19:15,080 Speaker 1: the faster delivery of certain kinds of anti missile systems 346 00:19:15,200 --> 00:19:18,520 Speaker 1: from Europe or NATO as a whole yest. Definitely, that 347 00:19:18,560 --> 00:19:21,960 Speaker 1: conversation has already been happening. NOATO is unlikely to get 348 00:19:21,960 --> 00:19:25,120 Speaker 1: the kind of weapons they really really want, the ultramodern ones, 349 00:19:25,400 --> 00:19:27,119 Speaker 1: but at least it could mean that they get faster 350 00:19:27,160 --> 00:19:29,720 Speaker 1: delivery of some of the existing systems that they've got. 351 00:19:30,440 --> 00:19:32,400 Speaker 1: Thanks for this, Ros will be checking back in with 352 00:19:32,440 --> 00:19:35,640 Speaker 1: you as we learn more about this incident, as the 353 00:19:35,720 --> 00:19:38,560 Speaker 1: war in Ukraine continues to unfold, and the G twenty 354 00:19:38,600 --> 00:19:42,639 Speaker 1: summit in Bali. Bloomberg News Executive editor for International Government, 355 00:19:42,720 --> 00:19:46,840 Speaker 1: Rosalind Mathison joining us live this morning from Indonesia. Looking 356 00:19:46,880 --> 00:19:49,920 Speaker 1: ahead to the market open, SMP futures are higher by 357 00:19:49,920 --> 00:19:53,040 Speaker 1: fourteen points, STAFLE futures up a hundred four, and NASA 358 00:19:53,160 --> 00:19:56,320 Speaker 1: futures are higher by forty one p ten. Your treasury 359 00:19:56,359 --> 00:19:58,760 Speaker 1: is now down five thirty seconds, the yield three point. 360 00:19:59,520 --> 00:20:02,639 Speaker 1: You're done the two year four point three five. This 361 00:20:03,560 --> 00:20:10,000 Speaker 1: is Bloomberg Bloomberg Daybreak, brought to you by Peapack Private 362 00:20:10,000 --> 00:20:13,120 Speaker 1: Wealth Management. Peapack Private Wealth Management knows that the portfolio 363 00:20:13,280 --> 00:20:15,240 Speaker 1: is more than a collection of assets. It's a path 364 00:20:15,280 --> 00:20:18,000 Speaker 1: to your future. Visit Peapack Private dot com and begin 365 00:20:18,080 --> 00:20:25,000 Speaker 1: your financial legacy today. Broadcasting live from the Bloomberg Interactive 366 00:20:25,040 --> 00:20:27,960 Speaker 1: Broker's studio in New York. Bloomberg E looking for you 367 00:20:28,280 --> 00:20:32,440 Speaker 1: to Washington, d C, Bloomberg to Boston, Bloomberg one O 368 00:20:32,640 --> 00:20:35,679 Speaker 1: six one, to San Francisco, Bloomberg NAM sixteen to the 369 00:20:35,720 --> 00:20:38,840 Speaker 1: country Sirius XM Toto one nine team, and around the 370 00:20:38,840 --> 00:20:42,679 Speaker 1: globe the Bloomberg Business app in Bloomberg Radio dot com. 371 00:20:42,680 --> 00:20:51,480 Speaker 1: This is Bloomberg Daybreak and it's five thirty on Wall Street. 372 00:20:51,480 --> 00:20:54,640 Speaker 1: Good morning. I'm Karen Moscow and I'm Nathan Hager. Bloomberg 373 00:20:54,680 --> 00:20:57,480 Speaker 1: Daybreak is brought to you by SEI. Asset managers don't 374 00:20:57,480 --> 00:20:59,600 Speaker 1: get results that are off the charts when their solutions 375 00:20:59,600 --> 00:21:02,200 Speaker 1: are off the shelf. Learned how SEI is operating platform 376 00:21:02,240 --> 00:21:05,399 Speaker 1: can turn infrastructure into a competitive advantage at S E 377 00:21:05,560 --> 00:21:08,720 Speaker 1: I C dot Com slash Tech and we are just 378 00:21:08,800 --> 00:21:11,520 Speaker 1: about four hours away from the open of US trading. 379 00:21:11,600 --> 00:21:12,919 Speaker 1: Let's get you have to date on the news you 380 00:21:12,960 --> 00:21:14,960 Speaker 1: need to know at this hour. We begin with the 381 00:21:15,080 --> 00:21:18,400 Speaker 1: rocket strike that killed two people in Poland, just over 382 00:21:18,400 --> 00:21:21,240 Speaker 1: the border from Ukraine. World leaders are trying to determine 383 00:21:21,280 --> 00:21:25,400 Speaker 1: if Russia attack NATO territory. However, President Biden says at 384 00:21:25,400 --> 00:21:28,560 Speaker 1: the G twenty summit it's unlikely the missile was fired 385 00:21:28,600 --> 00:21:32,520 Speaker 1: from Russia. Were aregreed to support Polands investigation into the 386 00:21:32,560 --> 00:21:37,680 Speaker 1: explosion in rural Poland near the Ukrainian border, and I'm 387 00:21:37,680 --> 00:21:40,400 Speaker 1: going to make sure we figure out exactly what happened. 388 00:21:40,760 --> 00:21:44,280 Speaker 1: Sources say President Biden is telling lies the blast was 389 00:21:44,320 --> 00:21:47,880 Speaker 1: caused by Ukraine air defense systems. Well. Speaking last night, Karen, 390 00:21:48,000 --> 00:21:53,600 Speaker 1: Ukraine's President vladimir's Lensky called the strike an escalation hitting 391 00:21:53,640 --> 00:21:56,879 Speaker 1: missiles on NATO territory. This is a Russian missile attack 392 00:21:56,920 --> 00:22:01,160 Speaker 1: on collective security. This is a very significant Scallatia. Ukrainian 393 00:22:01,200 --> 00:22:03,480 Speaker 1: President vladimir's Lensky also called for an end to the 394 00:22:03,480 --> 00:22:10,280 Speaker 1: war in an address to G twenty leaders. There's still 395 00:22:10,280 --> 00:22:12,680 Speaker 1: no confirmation on the exact source of the blast. NATO 396 00:22:12,720 --> 00:22:16,119 Speaker 1: ambassadors are meeting in Brussels for emergency talks. Former Defense 397 00:22:16,119 --> 00:22:20,320 Speaker 1: Secretary Mark Esper is preaching caution. My suspicion is that 398 00:22:20,400 --> 00:22:24,879 Speaker 1: this was an accidental firing caused by either poor targeting 399 00:22:25,160 --> 00:22:27,439 Speaker 1: or a malfunctioned by one of the Russian missiles. We 400 00:22:27,480 --> 00:22:30,320 Speaker 1: need to go through a deliberate process, investigated out, and 401 00:22:30,359 --> 00:22:33,240 Speaker 1: come to the facts. Former Defense Secretary Mark Esper spoke 402 00:22:33,240 --> 00:22:36,000 Speaker 1: with our Washington correspondent Joe Matthew on Bloomberg Sound On. 403 00:22:36,119 --> 00:22:39,280 Speaker 1: Catch the show weekdays at five pm Eastern on Bloomberg Radio. 404 00:22:39,480 --> 00:22:41,560 Speaker 1: Back here in the US politics, this front and center, 405 00:22:41,600 --> 00:22:44,520 Speaker 1: with a familiar name taking the spotlight. Former President Donald 406 00:22:44,560 --> 00:22:47,520 Speaker 1: Trump has made an announcement many already knew was coming. 407 00:22:48,080 --> 00:22:51,240 Speaker 1: In order to make America graded glorious again, I am 408 00:22:51,280 --> 00:22:55,520 Speaker 1: tonight announcing my candidacy for president of the United States. 409 00:22:57,560 --> 00:23:00,359 Speaker 1: Former President Trump was without several key al ees during 410 00:23:00,400 --> 00:23:03,480 Speaker 1: the announcement, including his daughter Ivanka Trump. We should mention 411 00:23:03,680 --> 00:23:06,800 Speaker 1: President Biden spoke with allies last night saying that that 412 00:23:06,800 --> 00:23:10,200 Speaker 1: blast was caused by Ukraine's air defense systems in Poland. 413 00:23:10,400 --> 00:23:12,000 Speaker 1: Now we want to turn to the economy. In the 414 00:23:12,040 --> 00:23:15,080 Speaker 1: latest US retail sales figures, they're coming out this morning. 415 00:23:15,280 --> 00:23:17,720 Speaker 1: Forecast call for a gain of one percent in October 416 00:23:17,960 --> 00:23:20,880 Speaker 1: and overseas, it's all about inflation. The UK's consumer price 417 00:23:20,920 --> 00:23:23,440 Speaker 1: index for October rose at an annual rate of eleven 418 00:23:23,520 --> 00:23:26,600 Speaker 1: point one percent. That makes a fresh forty one year 419 00:23:26,680 --> 00:23:29,760 Speaker 1: high for inflation in the United Kingdom. Straight ahead, we 420 00:23:29,760 --> 00:23:32,040 Speaker 1: have your latest local headlines and a check of sports. 421 00:23:32,400 --> 00:23:39,120 Speaker 1: You're listening to Bloomberg Daybreak. It's now five thirty three 422 00:23:39,119 --> 00:23:41,320 Speaker 1: on Wall Street, forty two degrees in Central Park. Michael 423 00:23:41,359 --> 00:23:42,879 Speaker 1: Bars here with what's going on in New York and 424 00:23:42,960 --> 00:23:45,320 Speaker 1: around the world. Michael, thank you very much. Nathan. It's 425 00:23:45,320 --> 00:23:48,359 Speaker 1: going to cost more for New York City cab ride. 426 00:23:48,760 --> 00:23:52,520 Speaker 1: The City's Taxi and Limousine Commission voted to increase fares 427 00:23:52,840 --> 00:23:57,640 Speaker 1: by the t l C says passengers will also face 428 00:23:57,680 --> 00:24:02,040 Speaker 1: an increase in rush hour and night surcharges and airport 429 00:24:02,119 --> 00:24:07,680 Speaker 1: flat rates. Drivers sought higher fares amid inflation and labor scarcity. 430 00:24:07,800 --> 00:24:11,440 Speaker 1: Senator Rick Scott will challenge Mitch McConnell for the Chamber's 431 00:24:11,520 --> 00:24:16,320 Speaker 1: top Republican leadership post during a closed door meeting today. Meanwhile, 432 00:24:16,520 --> 00:24:20,680 Speaker 1: rules will change now that House Minority Leader Kevin McCarthy 433 00:24:20,760 --> 00:24:24,119 Speaker 1: is poised to become the next House speaker. McCarthy spoke 434 00:24:24,119 --> 00:24:27,800 Speaker 1: at a news conference last night alongside other incoming members 435 00:24:27,840 --> 00:24:30,600 Speaker 1: of the GOP leadership team. The one thing you'll learn 436 00:24:30,720 --> 00:24:33,639 Speaker 1: is as my opportunity to be speakers, the House is 437 00:24:33,680 --> 00:24:36,320 Speaker 1: going to change. No longer is all the power gonna 438 00:24:36,400 --> 00:24:40,119 Speaker 1: arrest the way Nancy had it um no more proxy voting. 439 00:24:40,600 --> 00:24:45,160 Speaker 1: Steve Scalize will likely be Majority leader and Congresswoman at Leastafonik, 440 00:24:45,280 --> 00:24:49,440 Speaker 1: who took Liz Cheney's job as the GOP conference chair 441 00:24:49,520 --> 00:24:52,640 Speaker 1: last year, was elected to a second term in that position. 442 00:24:52,880 --> 00:24:56,000 Speaker 1: Stafonic said the GOP did quite well in her state. 443 00:24:56,359 --> 00:24:58,920 Speaker 1: I particularly am proud being from the state of New York. 444 00:24:59,000 --> 00:25:01,840 Speaker 1: We picked up four seats in New York State, flipping 445 00:25:01,880 --> 00:25:04,639 Speaker 1: blue districts to red, and we will have a tremendous 446 00:25:04,640 --> 00:25:11,000 Speaker 1: Republican conference in Congress. Congresswoman Staphonic, Donald Trump's longtime finance 447 00:25:11,080 --> 00:25:14,719 Speaker 1: chief is still collecting a hefty salary from the Trump organization, 448 00:25:15,160 --> 00:25:18,440 Speaker 1: even as the prosecution star witness in a criminal tax 449 00:25:18,480 --> 00:25:22,920 Speaker 1: fraud trial. Alan Weisselberg testified yesterday and that until recently 450 00:25:23,240 --> 00:25:25,880 Speaker 1: he was working as a senior advisor for the company 451 00:25:26,200 --> 00:25:29,840 Speaker 1: and is now on a paid leave of absence. NASA's 452 00:25:29,880 --> 00:25:33,640 Speaker 1: new Moon rocket has blasted off with three test dummies 453 00:25:34,040 --> 00:25:37,600 Speaker 1: aboard overnight from Cape Canaveral. These watchers were in all 454 00:25:38,000 --> 00:25:40,680 Speaker 1: it was really bright like it looked like the sun 455 00:25:40,760 --> 00:25:44,119 Speaker 1: was rising, sounded like an earthquake was going on. The 456 00:25:44,160 --> 00:25:47,040 Speaker 1: Florida launch brings the US a big step closer to 457 00:25:47,080 --> 00:25:49,400 Speaker 1: putting astronauts back on the Moon for the first time 458 00:25:49,400 --> 00:25:52,560 Speaker 1: in fifty years. Global News twenty four hours a day 459 00:25:52,640 --> 00:25:55,840 Speaker 1: on air and on Bloomberg Quickdake, powered by more than 460 00:25:56,359 --> 00:25:59,879 Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries. Michael, 461 00:26:00,240 --> 00:26:07,959 Speaker 1: this is Bloomberg Nick. Thanks Michael on Wall Street Time 462 00:26:08,000 --> 00:26:10,120 Speaker 1: for the Bloomberg Sports update front by tri State Out. 463 00:26:10,240 --> 00:26:12,880 Speaker 1: Here's Sean Thanks Day and the Knicks hit the road. 464 00:26:12,920 --> 00:26:14,719 Speaker 1: Didn't play well their last dame with the Guard. They 465 00:26:14,720 --> 00:26:16,840 Speaker 1: gave up a hundred and forty five points in a 466 00:26:16,920 --> 00:26:19,640 Speaker 1: loss to Oklahoma City, but they began the five game 467 00:26:19,720 --> 00:26:22,320 Speaker 1: trip with a win at Utah one eighteen one eleven. 468 00:26:22,440 --> 00:26:25,840 Speaker 1: Jalen Brunson scored twenty five points. Cam Reddish pitched in 469 00:26:25,960 --> 00:26:28,160 Speaker 1: with nineteen knicks for now seven and seven. They played 470 00:26:28,160 --> 00:26:32,200 Speaker 1: tonight in Denver. The Nets lost in Sacramento one fifty 471 00:26:32,320 --> 00:26:35,080 Speaker 1: three to one. One. That's the most points the Nets 472 00:26:35,080 --> 00:26:37,720 Speaker 1: have ever allowed. Hottest team and hockey. The Devil's made 473 00:26:37,720 --> 00:26:40,800 Speaker 1: it ten straight wins of five one victory in Montreal 474 00:26:40,920 --> 00:26:44,119 Speaker 1: College of St. John's one, Kansas beat two at the 475 00:26:44,160 --> 00:26:46,800 Speaker 1: first lost for Duke's new coach, John Shire. Michigan State 476 00:26:46,880 --> 00:26:50,560 Speaker 1: upset Kentucky in double over time. Anthony Rizzo staying with 477 00:26:50,640 --> 00:26:54,080 Speaker 1: the Yankees new two year deal forty million guaranteed. Rizzo 478 00:26:54,200 --> 00:26:56,399 Speaker 1: just hit thirty two home runs. His average was just 479 00:26:56,440 --> 00:26:59,080 Speaker 1: to four. That could go up next year now that 480 00:26:59,200 --> 00:27:03,240 Speaker 1: shifting has been band. Rizzo very close friends with Aaron Judge, 481 00:27:03,320 --> 00:27:06,919 Speaker 1: Yanks talking contract with him. Owner house Steinbrenner said he 482 00:27:06,960 --> 00:27:10,000 Speaker 1: recently met with Judge one on one Buck Show. Walters 483 00:27:10,040 --> 00:27:12,360 Speaker 1: first Manager of the Year award was with the Yankees 484 00:27:12,400 --> 00:27:15,480 Speaker 1: in four that was the strike year. He then won 485 00:27:15,520 --> 00:27:18,639 Speaker 1: it with Texas and Baltimore, and now the NL award 486 00:27:18,680 --> 00:27:20,560 Speaker 1: with the Mess. It was a close vote, but four 487 00:27:20,720 --> 00:27:24,200 Speaker 1: Manager of the Year awards ties the all time record. 488 00:27:24,200 --> 00:27:26,320 Speaker 1: He shares that now with Bobby Cops and Tony Louisa 489 00:27:26,359 --> 00:27:29,320 Speaker 1: Cleveland's Terry Francona won in the A L for the 490 00:27:29,400 --> 00:27:31,879 Speaker 1: third time to cy Young Awards. Throughout the day, A 491 00:27:31,920 --> 00:27:34,240 Speaker 1: new stadium is gonna be built New York City at 492 00:27:34,280 --> 00:27:38,040 Speaker 1: twenty five thousand Saints Soccer Stadium near City Field and 493 00:27:38,119 --> 00:27:40,640 Speaker 1: Queens is part of a waterfront project. Will be used 494 00:27:40,680 --> 00:27:43,359 Speaker 1: by the MLS team n y c FC that currently 495 00:27:43,400 --> 00:27:45,200 Speaker 1: plays at Yankee Stadium. They'll put up a lot of 496 00:27:45,240 --> 00:27:49,680 Speaker 1: the money. Expected to be ready in seven. Stashar Bloomberg 497 00:27:49,680 --> 00:27:52,960 Speaker 1: Sports all Right, John Nelson News on Life After Sports. 498 00:27:53,119 --> 00:27:57,160 Speaker 1: Former Giants quarterback Eli Manning is expanding his post football career. 499 00:27:57,160 --> 00:27:59,960 Speaker 1: He signed on with a private equity firm called brand Velaca. 500 00:28:00,040 --> 00:28:03,000 Speaker 1: The group that's in addition to his widely popular Manning 501 00:28:03,040 --> 00:28:06,520 Speaker 1: cast with brother Peyton on ESPN Monday Night Football. Eli 502 00:28:06,560 --> 00:28:08,640 Speaker 1: man He talked about it all with Bloomberg's Matt Miller 503 00:28:08,680 --> 00:28:12,920 Speaker 1: and Paul Sweeney, sitting on my couchs watching football, making 504 00:28:12,960 --> 00:28:15,240 Speaker 1: fun of my brother, Like that sounds like a good job, 505 00:28:15,480 --> 00:28:17,200 Speaker 1: and you know I pay me fourth Like yeah, I mean, 506 00:28:17,200 --> 00:28:18,919 Speaker 1: I know I went to Old Miss, but I know 507 00:28:18,960 --> 00:28:21,119 Speaker 1: a good deal what I see one. And so that 508 00:28:21,240 --> 00:28:23,919 Speaker 1: was the idea and really you know, just saying, hey, 509 00:28:23,960 --> 00:28:26,080 Speaker 1: what would it be like if Peyton and I were 510 00:28:26,160 --> 00:28:28,439 Speaker 1: in your living room watching the game? How would we 511 00:28:28,520 --> 00:28:30,480 Speaker 1: watch it? You know, we're not going to talk about 512 00:28:30,520 --> 00:28:33,000 Speaker 1: the first intent run for two yards and tell you 513 00:28:33,119 --> 00:28:35,440 Speaker 1: where the running back went to college, Like, we don't 514 00:28:35,480 --> 00:28:37,280 Speaker 1: know that answer. We don't know where he went to college, 515 00:28:37,280 --> 00:28:40,200 Speaker 1: and you probably don't care either. So let's bring in 516 00:28:40,280 --> 00:28:43,120 Speaker 1: some guests having fun. We'll talk some x x's and knows. 517 00:28:43,200 --> 00:28:46,160 Speaker 1: Tell you what's going through the quarterbacks mind right now? 518 00:28:46,240 --> 00:28:49,200 Speaker 1: What you know, how should they handle this situation? Have 519 00:28:49,280 --> 00:28:52,480 Speaker 1: Peyton calls sixty seven time outs? You know when dinner 520 00:28:52,560 --> 00:28:54,440 Speaker 1: needs to call a time out, and so you know, 521 00:28:54,800 --> 00:28:57,920 Speaker 1: it's really just kind of having fun and in a 522 00:28:57,920 --> 00:29:01,360 Speaker 1: different way to watch the game. Former Giants quarterback Eli 523 00:29:01,400 --> 00:29:03,520 Speaker 1: Manning speaking there with Matt Miller and Paul Sweeney on 524 00:29:03,560 --> 00:29:06,239 Speaker 1: Bloomberg Radio. Catch more from Mount and Paul weekdays at 525 00:29:06,280 --> 00:29:08,280 Speaker 1: ten am Wall Street Time, and you can catch that 526 00:29:08,320 --> 00:29:11,440 Speaker 1: full interview with Eli Manning this weekend on the Bloomberg 527 00:29:11,480 --> 00:29:14,840 Speaker 1: Business of Sports podcast five thirty eight Now on Wall 528 00:29:14,880 --> 00:29:17,280 Speaker 1: Street Time for the Trice State Business Report with Bloomberg 529 00:29:17,360 --> 00:29:20,880 Speaker 1: Stone Doneager. The Manhattan Luxury market is still a healthy one, 530 00:29:20,920 --> 00:29:23,719 Speaker 1: at least according to developers of a new boutique condo 531 00:29:23,800 --> 00:29:27,000 Speaker 1: in the village. Dow Jones reports the building sold nearly 532 00:29:27,040 --> 00:29:29,240 Speaker 1: all of its twenty eight units in a week and 533 00:29:29,240 --> 00:29:32,200 Speaker 1: a half without any marketing involved, all of it through 534 00:29:32,240 --> 00:29:34,800 Speaker 1: word of mouth. The average units sold for three and 535 00:29:34,840 --> 00:29:38,560 Speaker 1: a half million dollars. The city's first major league soccer 536 00:29:38,720 --> 00:29:42,400 Speaker 1: stadium will be built across from City Field. CBS two 537 00:29:42,440 --> 00:29:45,200 Speaker 1: reports the twenty five thousand seat stadium will house the 538 00:29:45,240 --> 00:29:48,440 Speaker 1: New York City Football Club. The seven hundred eighty million 539 00:29:48,480 --> 00:29:51,560 Speaker 1: dollar project will include a hotel in new housing. The 540 00:29:51,680 --> 00:29:54,840 Speaker 1: report says the soccer club will pay for the stadium, 541 00:29:54,880 --> 00:29:57,280 Speaker 1: and a unit of a Singapore company has won two 542 00:29:57,360 --> 00:30:01,200 Speaker 1: contracts from New Jersey transportation officials. One would design and 543 00:30:01,240 --> 00:30:04,840 Speaker 1: operate tolling systems on the Garden State Parkway and the Turnpike. 544 00:30:05,160 --> 00:30:08,040 Speaker 1: The second would do the same on the Atlantic City Expressway. 545 00:30:08,400 --> 00:30:11,840 Speaker 1: That one would run twelve years. That's the Bloomberg Try 546 00:30:11,840 --> 00:30:14,880 Speaker 1: State Business Report. I'm Joan Donneger. Thanks Joe. Now, let's 547 00:30:14,920 --> 00:30:16,560 Speaker 1: check some of the tough stories heard on our three 548 00:30:16,640 --> 00:30:23,840 Speaker 1: hundred Bloomberg affiliate radio stations around the world. I'm Steve 549 00:30:23,920 --> 00:30:26,400 Speaker 1: hotas Go on K and X in Los Angeles. We're 550 00:30:26,440 --> 00:30:29,920 Speaker 1: talking about how cage free egg demand is really crack 551 00:30:30,000 --> 00:30:33,560 Speaker 1: in the market as consumers push for change. Um Cornie 552 00:30:33,640 --> 00:30:36,640 Speaker 1: Donahoe on ktr H in Houston, and new study finds 553 00:30:36,640 --> 00:30:39,520 Speaker 1: house prices can tumble as much as twenty percent as 554 00:30:39,600 --> 00:30:42,960 Speaker 1: mortgage rate sword. I'm Jeff Bellinger and on w l 555 00:30:43,160 --> 00:30:47,200 Speaker 1: W and Cincinnati. I'm reporting there's cause for some optimism 556 00:30:47,240 --> 00:30:51,360 Speaker 1: about food inflation. In twenty three time. Joanes Doddeger telling 557 00:30:51,480 --> 00:30:54,160 Speaker 1: w t a M listeners in Cleveland how one Ohio 558 00:30:54,280 --> 00:30:57,120 Speaker 1: city and county planned to use pandemic aid to wipe 559 00:30:57,120 --> 00:31:00,240 Speaker 1: out citizens. Medical deck. I'm Stephen Carl and bloomber d 560 00:31:00,320 --> 00:31:02,920 Speaker 1: AB Digital Radio in London. We've from the poising on 561 00:31:03,000 --> 00:31:06,120 Speaker 1: CPI in the UK hitting a forty one year high 562 00:31:06,160 --> 00:31:10,480 Speaker 1: with prices rising eleven point one percent in October. Those 563 00:31:10,480 --> 00:31:13,760 Speaker 1: are some of the stories our Bloomberg journalists and analysts 564 00:31:13,760 --> 00:31:17,080 Speaker 1: are working on this morning around the world. Futures moving higher. 565 00:31:17,520 --> 00:31:23,640 Speaker 1: You're listening to Bloomberg Day right. Bloomberg Sports is brought 566 00:31:23,680 --> 00:31:25,560 Speaker 1: to you by Audie. Don't let someone else drive off 567 00:31:25,560 --> 00:31:27,880 Speaker 1: in the Audi model you've always wanted. Visit your local 568 00:31:27,880 --> 00:31:29,800 Speaker 1: price state Audie Dealers to get behind the wheel of 569 00:31:29,840 --> 00:31:32,760 Speaker 1: yours today, or visit Audie Offers dot com for moren 570 00:31:32,800 --> 00:31:40,360 Speaker 1: front markets, headlines and breaking news twenty four hours a 571 00:31:40,440 --> 00:31:43,720 Speaker 1: day at Bloomberg dot Com of Bloomberg Business and at 572 00:31:43,760 --> 00:31:53,880 Speaker 1: Bloomberg Quicktake. He's a Bloomberg Business Flash and I'm Karin 573 00:31:53,920 --> 00:31:56,320 Speaker 1: Moscow Future is on the rise this morning. We check 574 00:31:56,360 --> 00:31:58,720 Speaker 1: the markets every fifteen minutes throughout the trading day on 575 00:31:58,760 --> 00:32:01,720 Speaker 1: bloomberg s and Pefe Future is up about seven points down. 576 00:32:01,760 --> 00:32:05,280 Speaker 1: Futures of fifty eight nasdack futures up thirteen the decks 577 00:32:05,280 --> 00:32:08,080 Speaker 1: in Germany's down seven tenths of upper sent ten year 578 00:32:08,120 --> 00:32:11,240 Speaker 1: treasury down four thirty seconds you three point seven eight percent. 579 00:32:11,280 --> 00:32:13,760 Speaker 1: They yield on the two year four point three five percent. 580 00:32:14,240 --> 00:32:16,800 Speaker 1: NIMEX Screwed oil is up to ten percent or seventeen 581 00:32:16,880 --> 00:32:19,680 Speaker 1: cents at eighty seven dollars ten cents of barrel comes 582 00:32:19,680 --> 00:32:21,959 Speaker 1: gold up half percent or nine dollar sixty cents at 583 00:32:22,000 --> 00:32:25,080 Speaker 1: seventeen eighty six. Forty announced the Euro one point oh 584 00:32:25,120 --> 00:32:27,440 Speaker 1: four to seven against the dollar, British pound one point 585 00:32:27,480 --> 00:32:29,840 Speaker 1: one nine to five and the end one thirty nine 586 00:32:29,840 --> 00:32:32,440 Speaker 1: point two nine and Bitcoin this morning down one percent 587 00:32:32,800 --> 00:32:36,320 Speaker 1: at sixteen thousand, seven hundred dollars as a Bloomberg business flash. 588 00:32:36,320 --> 00:32:38,360 Speaker 1: Now here's Michael Barr with more on what's going on 589 00:32:38,400 --> 00:32:41,320 Speaker 1: around the world. Michael Karen, thank you very much. President 590 00:32:41,400 --> 00:32:44,600 Speaker 1: Joe Biden told allies that the explosion that killed two 591 00:32:44,600 --> 00:32:49,000 Speaker 1: people in Poland was caused by Ukrainian air defenses. However, 592 00:32:49,040 --> 00:32:53,120 Speaker 1: according to two people familiar with the matter, according to 593 00:32:53,120 --> 00:32:55,920 Speaker 1: what Biden said, it was ultimately sparked by the Russian 594 00:32:56,160 --> 00:33:00,040 Speaker 1: missile barrage on Ukraine. Biden delivered the assessment during a 595 00:33:00,080 --> 00:33:03,720 Speaker 1: conversation with NATO and Group of Seven allies in Indonesia. 596 00:33:04,160 --> 00:33:07,160 Speaker 1: Former President Trump announced his candidacy for the White House 597 00:33:07,160 --> 00:33:12,000 Speaker 1: in four Trump says President Biden and Democrats destroyed the 598 00:33:12,040 --> 00:33:15,000 Speaker 1: economy and he will fix it. NASA launched its most 599 00:33:15,040 --> 00:33:18,720 Speaker 1: powerful rocket in fifty years overnight, sending a capsule with 600 00:33:18,880 --> 00:33:22,000 Speaker 1: test dummy skyward on a twenty five day mission to 601 00:33:22,080 --> 00:33:24,920 Speaker 1: orbit the Moon and back in the NBA. The next one, 602 00:33:24,960 --> 00:33:27,920 Speaker 1: the Nets lost NHL, the Devils won their tenth straight. 603 00:33:28,080 --> 00:33:31,239 Speaker 1: Capitals lost global needs twenty four hours a day on 604 00:33:31,320 --> 00:33:34,120 Speaker 1: air and on Bloomberg Quick Tank powered by more than 605 00:33:34,200 --> 00:33:37,360 Speaker 1: twenty seven hundred journalists analysts more than a hundred twenty countries. 606 00:33:37,720 --> 00:33:40,920 Speaker 1: Michael bar and this is Bloomberg. Nathan, Okay, Michael, thank you. 607 00:33:41,000 --> 00:33:43,680 Speaker 1: It is coming up to nine on Wall Street Live 608 00:33:43,720 --> 00:33:47,400 Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak Road. 609 00:33:47,680 --> 00:33:49,760 Speaker 1: Really pleased to have Christina Hooper back with us on 610 00:33:49,800 --> 00:33:53,800 Speaker 1: the show this morning, Chief Global market strategist at Investco, Christina, 611 00:33:53,880 --> 00:33:56,320 Speaker 1: good morning. Looks like markets are breathing a little bit 612 00:33:56,360 --> 00:33:59,239 Speaker 1: of a sigh of relief, with doubts building that at 613 00:33:59,280 --> 00:34:03,280 Speaker 1: least this missile attack in Poland wasn't a deliberate strike. 614 00:34:03,880 --> 00:34:05,719 Speaker 1: Is this something the markets can look past or does 615 00:34:05,840 --> 00:34:11,040 Speaker 1: geopolitics need to be back in the calculus for investors. Well, 616 00:34:11,320 --> 00:34:16,320 Speaker 1: geopolitics unfortunately does have an impact on markets, but only 617 00:34:16,360 --> 00:34:19,440 Speaker 1: in the very short term. We saw that reaction yesterday. 618 00:34:19,840 --> 00:34:23,319 Speaker 1: UM and quite often that is just the case that 619 00:34:23,400 --> 00:34:26,360 Speaker 1: it's a short term blip UM, even if it is 620 00:34:26,400 --> 00:34:30,279 Speaker 1: something that extends well beyond um just one day. Look 621 00:34:30,320 --> 00:34:33,640 Speaker 1: for example, at Russia's war with Ukraine, it hasn't had 622 00:34:33,680 --> 00:34:37,880 Speaker 1: a big impact on markets. One exception could be something 623 00:34:37,920 --> 00:34:40,560 Speaker 1: like tariffs where there is where there tends to be 624 00:34:40,600 --> 00:34:44,520 Speaker 1: a medium term effect on markets, especially Chinese stocks. I 625 00:34:44,560 --> 00:34:48,600 Speaker 1: think we're we're hurt by by tariffs, But in general, 626 00:34:48,840 --> 00:34:52,279 Speaker 1: geopolitics is not something for investors to be worried about, 627 00:34:52,400 --> 00:34:55,520 Speaker 1: especially if they have a long time horizon. What does 628 00:34:55,760 --> 00:34:59,239 Speaker 1: feed into your long time, long term horizon when it 629 00:34:59,280 --> 00:35:05,280 Speaker 1: comes to in estments, Well, it's all about expectations around 630 00:35:05,680 --> 00:35:10,640 Speaker 1: UH growth, around UM, where rates are going to be UM. 631 00:35:10,680 --> 00:35:14,399 Speaker 1: But most importantly it's about looking in the rear view 632 00:35:14,400 --> 00:35:18,479 Speaker 1: mirror UM, looking at what has historically happened to help 633 00:35:18,520 --> 00:35:21,919 Speaker 1: provide some guides for the future. We do know that 634 00:35:21,960 --> 00:35:26,160 Speaker 1: no matter what the environment UM, typically over the longer 635 00:35:26,280 --> 00:35:30,480 Speaker 1: term we see stocks have this gravitational pull upwards, which 636 00:35:30,520 --> 00:35:34,160 Speaker 1: is why they are an important part of investors portfolios 637 00:35:34,200 --> 00:35:36,719 Speaker 1: for the long term. How do you look back on 638 00:35:37,719 --> 00:35:40,080 Speaker 1: the history of markets, so when we have the kinds 639 00:35:40,080 --> 00:35:42,480 Speaker 1: of situations that we're in where we do have this 640 00:35:42,800 --> 00:35:47,479 Speaker 1: war in Ukraine, we have pretty unprecedented FED rate hike 641 00:35:47,640 --> 00:35:52,520 Speaker 1: cycle underway right now with these four straight jumbo rate hikes, 642 00:35:52,920 --> 00:35:55,480 Speaker 1: how do you gain things out given where things stand 643 00:35:55,560 --> 00:36:00,279 Speaker 1: right now. Well, certainly this has been an extraordinary year, 644 00:36:00,440 --> 00:36:03,640 Speaker 1: and when I say that, I'm talking specifically about monetary policy. 645 00:36:03,680 --> 00:36:08,279 Speaker 1: As you said, UM, these jumbo hikes are are very unusual, 646 00:36:08,400 --> 00:36:10,480 Speaker 1: and especially if we take a step back and look 647 00:36:10,480 --> 00:36:12,719 Speaker 1: at it in the context of globally, we have so 648 00:36:12,880 --> 00:36:16,560 Speaker 1: many central banks hiking rates UM and in big chunks 649 00:36:17,080 --> 00:36:18,879 Speaker 1: all over the world, which is why the World Bank 650 00:36:18,960 --> 00:36:21,680 Speaker 1: came out in September and we learned about UM the 651 00:36:21,680 --> 00:36:26,080 Speaker 1: potential for UM risks associated with just this fast and 652 00:36:26,160 --> 00:36:30,120 Speaker 1: furious monetary policy tightening. UM. But we have to recognize 653 00:36:30,120 --> 00:36:33,920 Speaker 1: that that tends to have a uh an effect while 654 00:36:33,960 --> 00:36:37,439 Speaker 1: it's happening UM. Right, For example, we saw a very 655 00:36:37,480 --> 00:36:41,319 Speaker 1: difficult year for both stocks and bonds because of this 656 00:36:41,400 --> 00:36:45,239 Speaker 1: extraordinary monetary policy environment. However, UM, we can look to 657 00:36:45,280 --> 00:36:48,280 Speaker 1: the future and say, as soon as UM the FED 658 00:36:48,600 --> 00:36:52,040 Speaker 1: starts to get less aggressive, and certainly when it hits 659 00:36:52,040 --> 00:36:55,080 Speaker 1: the pause button, we're likely to see a very different 660 00:36:55,320 --> 00:36:58,880 Speaker 1: market environment, and in fact, markets tend to discount that 661 00:36:59,120 --> 00:37:02,200 Speaker 1: before it actually happens. You know, we've seen some pretty 662 00:37:02,280 --> 00:37:07,560 Speaker 1: dramatic market moves just on the back of individual data points. 663 00:37:07,600 --> 00:37:11,040 Speaker 1: When you think about consumer prices last week, producer prices 664 00:37:11,040 --> 00:37:14,480 Speaker 1: this week, we get another round of data in retail sales. 665 00:37:14,560 --> 00:37:18,040 Speaker 1: What kind of a catalyst could that be this morning? Christina, So, 666 00:37:18,200 --> 00:37:21,480 Speaker 1: I don't know if retail sales has the potential to 667 00:37:21,560 --> 00:37:26,840 Speaker 1: be very disruptive. Um. It certainly could make investors feel 668 00:37:26,880 --> 00:37:30,280 Speaker 1: better about stocks if it if it comes in. Um. 669 00:37:30,719 --> 00:37:35,560 Speaker 1: Uh and and is is uh positively surprises But I 670 00:37:35,600 --> 00:37:38,600 Speaker 1: think we're going to see the most reaction coming from 671 00:37:38,719 --> 00:37:42,520 Speaker 1: inflation data because that is what is making the FED, 672 00:37:42,680 --> 00:37:45,720 Speaker 1: helping the Fed to make its decision right now about 673 00:37:45,760 --> 00:37:48,760 Speaker 1: the future path of monetary policy. So we'll see outsized 674 00:37:48,840 --> 00:37:53,520 Speaker 1: reactions from anything related to inflation. Just thirty seconds left here, Christina. 675 00:37:53,600 --> 00:37:55,480 Speaker 1: Do you think there's still room for a soft landing 676 00:37:55,520 --> 00:37:58,440 Speaker 1: from this Fed? Well, I think there's still room for 677 00:37:58,480 --> 00:38:01,960 Speaker 1: a soft dish land but it all depends on what 678 00:38:02,160 --> 00:38:05,359 Speaker 1: the Fed does going forward. Um. It's already created a 679 00:38:05,400 --> 00:38:09,400 Speaker 1: significant amount of negative impact on the economy, much of 680 00:38:09,400 --> 00:38:12,440 Speaker 1: which we haven't seen yet because of the lag that 681 00:38:12,560 --> 00:38:15,440 Speaker 1: usually occurs between monetary policy and showing up in in 682 00:38:15,480 --> 00:38:21,160 Speaker 1: the economy. UM. But um, this is this is a 683 00:38:21,239 --> 00:38:25,360 Speaker 1: crash is certainly avoidable. Uh. Major recession is certainly avoidable 684 00:38:25,360 --> 00:38:29,200 Speaker 1: at this point. UM. If the FED eases up on 685 00:38:29,840 --> 00:38:33,279 Speaker 1: its level of tightening and of course pauses by the 686 00:38:33,400 --> 00:38:35,560 Speaker 1: end of the first quarter. I think we can avoid 687 00:38:35,920 --> 00:38:40,239 Speaker 1: anything significant. Thanks again, Christina, Christina Hooper's chief Global market 688 00:38:40,280 --> 00:38:43,680 Speaker 1: strategist at Investo, Karen Allry, Nathan, thank you. It is 689 00:38:43,719 --> 00:38:46,320 Speaker 1: five fifty three on Wall Street. Now. A legal story 690 00:38:46,360 --> 00:38:50,840 Speaker 1: we're watching this morning, brought to you by American Arbitration Association. 691 00:38:50,920 --> 00:38:55,759 Speaker 1: Business disputes are inevitable, resolve faster with the American Arbitration Association, 692 00:38:55,800 --> 00:38:59,480 Speaker 1: the global leader in alternative dispute resolution for over ninety years. 693 00:39:00,000 --> 00:39:03,280 Speaker 1: Are at a dr dot org. Now, a legal story 694 00:39:03,320 --> 00:39:06,839 Speaker 1: we're watching. A Republican commissioner at the Equal Employment Opportunity 695 00:39:06,840 --> 00:39:11,200 Speaker 1: Commission is deploying a rarely used agency procedure to silently 696 00:39:11,360 --> 00:39:15,640 Speaker 1: initiate discrimination investigations against at least three companies that are 697 00:39:15,640 --> 00:39:20,200 Speaker 1: providing their employees with abortion travel benefits. Trump appointee Andrea 698 00:39:20,320 --> 00:39:24,200 Speaker 1: Lucas alleges and so called commissioner charges that the employers 699 00:39:24,239 --> 00:39:28,560 Speaker 1: are favoring workers seeking abortions while discriminating against pregnant workers 700 00:39:28,800 --> 00:39:32,400 Speaker 1: and disabled workers because they are not offering equivalent benefits 701 00:39:32,400 --> 00:39:35,279 Speaker 1: for their medical needs. According to five attorneys, familiar with 702 00:39:35,320 --> 00:39:38,120 Speaker 1: the charges. For more, Bloomberg's Jon Grosso speaks to j 703 00:39:38,440 --> 00:39:42,880 Speaker 1: Edward Murraino, unemployment discrimination reporter at Bloomberg Law about his 704 00:39:43,080 --> 00:39:48,320 Speaker 1: exclusive report. How rare are these charges coming from commissioners directly? 705 00:39:48,840 --> 00:39:52,640 Speaker 1: These commissioners charges e s. Commissioners are able to file 706 00:39:52,680 --> 00:39:56,120 Speaker 1: them independently. They're used very rarely. In the past two 707 00:39:56,120 --> 00:39:59,400 Speaker 1: fiscal years, they've only been used three times. They're typically 708 00:39:59,520 --> 00:40:03,200 Speaker 1: used to uh push settled law or add claims to 709 00:40:03,280 --> 00:40:07,319 Speaker 1: existing investigations. This avenue that Andrew Lucas is choosing is 710 00:40:07,560 --> 00:40:12,880 Speaker 1: quite unusual. What other procedures are they claiming need travel benefits? 711 00:40:13,000 --> 00:40:15,840 Speaker 1: Women are getting travel benefits to travel out of state 712 00:40:16,000 --> 00:40:18,880 Speaker 1: because in state they can't get an abortion. So what 713 00:40:19,040 --> 00:40:22,520 Speaker 1: is Lucas claiming here that there are disabled workers and 714 00:40:22,640 --> 00:40:25,279 Speaker 1: pregnant workers who need to go out of state for 715 00:40:25,400 --> 00:40:29,320 Speaker 1: procedures and they can't. Yeah, So it's unclear from the charges. 716 00:40:29,320 --> 00:40:32,160 Speaker 1: They're very broad. They just make those two assertions that 717 00:40:32,360 --> 00:40:34,880 Speaker 1: the company is discriminating against pregnant workers and that it's 718 00:40:34,880 --> 00:40:38,080 Speaker 1: discriminating against disabled workers. So the facts of these cases 719 00:40:38,120 --> 00:40:41,720 Speaker 1: are not yet established, but the charges make the assumption that, 720 00:40:41,960 --> 00:40:45,239 Speaker 1: for example, somebody with maybe a complicated pregnancy at that 721 00:40:45,320 --> 00:40:49,680 Speaker 1: company was maybe not able to travel to see a specialist, 722 00:40:49,960 --> 00:40:52,480 Speaker 1: or a person with a disability was not able to 723 00:40:52,520 --> 00:40:56,279 Speaker 1: travel to seek the care that they needed. Meanwhile, these 724 00:40:56,280 --> 00:41:00,080 Speaker 1: companies were offering travel for abortions, as you mentioned, and 725 00:41:00,320 --> 00:41:03,480 Speaker 1: it is a little unusual because abortion is unique in 726 00:41:03,520 --> 00:41:05,319 Speaker 1: that it depending on where you are, you may not 727 00:41:05,400 --> 00:41:09,040 Speaker 1: have access to that anymore. Where with pregnancies or other conditions, 728 00:41:09,080 --> 00:41:12,680 Speaker 1: those services are generally offered locally or you know, if 729 00:41:12,719 --> 00:41:15,640 Speaker 1: not in the general vicinity of where you're working. It's 730 00:41:15,680 --> 00:41:18,480 Speaker 1: also unusual from the assorneys that I talked to. Typically, 731 00:41:18,560 --> 00:41:22,800 Speaker 1: abortion travel is covered under a more broad healthcare travel 732 00:41:22,840 --> 00:41:26,160 Speaker 1: policy and unemployer's healthcare plan, So you know, they may 733 00:41:26,160 --> 00:41:29,080 Speaker 1: have advertised it as a pledge to cover abortion travel, 734 00:41:29,360 --> 00:41:32,160 Speaker 1: but as far as their healthcare plant is concerned, it's 735 00:41:32,239 --> 00:41:36,440 Speaker 1: just a general healthcare travel policy that happens to include abortion. 736 00:41:37,040 --> 00:41:40,760 Speaker 1: Is there any case law to support these charges, any 737 00:41:40,800 --> 00:41:45,120 Speaker 1: precedent or are they completely novel? It's pretty novel. You know. 738 00:41:45,160 --> 00:41:47,680 Speaker 1: It's only been since June that you know, the constitutional 739 00:41:47,760 --> 00:41:50,319 Speaker 1: right to an abortion has been overturned, so this has 740 00:41:50,400 --> 00:41:53,919 Speaker 1: not been tested in federal courts. Yet. But the laws 741 00:41:53,960 --> 00:41:56,880 Speaker 1: of place here are Title seven of the Civil Rights 742 00:41:56,960 --> 00:42:00,000 Speaker 1: Act of nineteen sixty four and the Americans with Disability 743 00:42:00,040 --> 00:42:02,360 Speaker 1: Act on the Pregnancy Discrimination Act. And you know, I 744 00:42:02,400 --> 00:42:04,279 Speaker 1: talked to a lot of lawyers for the story, and 745 00:42:04,440 --> 00:42:08,239 Speaker 1: generally what they argue is that the Pregnancy Discrimination Act 746 00:42:08,280 --> 00:42:12,360 Speaker 1: in fact protects an employer's ability to provide abortion benefits 747 00:42:12,440 --> 00:42:15,680 Speaker 1: rather than preclude them from doing so. And also what's 748 00:42:15,719 --> 00:42:18,360 Speaker 1: interesting about these charges is that since they come from 749 00:42:18,400 --> 00:42:21,320 Speaker 1: a commissioner, they don't necessarily have a victim. There wasn't, 750 00:42:21,400 --> 00:42:23,960 Speaker 1: you know, somebody who came forward and said that they 751 00:42:23,960 --> 00:42:26,279 Speaker 1: felt that they were discriminated against based on off of 752 00:42:26,320 --> 00:42:30,480 Speaker 1: the benefits. And that's j Edward Varno of Bloomberg Law 753 00:42:30,520 --> 00:42:32,920 Speaker 1: spaing at the Bloomberg June Grosso. Catch more at that 754 00:42:32,960 --> 00:42:36,400 Speaker 1: interview plus analysis of the latest legal news by subscribing 755 00:42:36,400 --> 00:42:38,920 Speaker 1: to the Bloomberg Law Podcast or downloading the show at 756 00:42:38,960 --> 00:42:42,759 Speaker 1: Bloomberg dot com slash podcast. Attorneys can find exceptional legal 757 00:42:42,800 --> 00:42:45,719 Speaker 1: research and business development tools at Bloomberg Law dot com 758 00:42:45,960 --> 00:42:48,520 Speaker 1: and on the Bloomberg terminal at the Law go This 759 00:42:48,600 --> 00:42:49,279 Speaker 1: is Bloomberg