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

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Speaker 1: for Wednesday July Coming up this hour. Former President Trump's

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Speaker 1: efforts to create fake electors said to be probed by

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Speaker 1: the Justice Department. Investors wait for a widely expected seventy

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Speaker 1: five basis point hike from the Fed. Futures jump following

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Speaker 1: earnings from Microsoft and Alphabet, and President Biden prepares to

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Speaker 1: meet China's hijin Ping as fresh tension swirl over time,

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Speaker 1: one New York Mayor Eric Adams says the era of catch,

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Speaker 1: release repeat for criminals has to end. Plus no jackpot

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Speaker 1: winner in the Mega Millions lottery on Michael Barre Ahead,

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Speaker 1: I've done standshower and four Yankee six to three to

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Speaker 1: start the Subway series, which ends tonight at City V.

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Speaker 1: That's all training ahead on Bloomberg Daybreak on Bloomberg he

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Speaker 1: Living three on New York, Bloomberg one, Washington, d C,

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Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco,

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Speaker 1: Sirius x M one nine Team, and around the world

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Speaker 1: on Bloomberg Radio dot Com and via The Bloomberg Business.

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Speaker 1: Good Morning, I'm Nathan Hagar. And I'm Karen Moscow. US

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Speaker 1: DOT index futures on the rise this morning. We are

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Speaker 1: coming here to six oh one on Wall Street, and

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

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Speaker 1: On Bloomberg S and P futures up thirty six points down.

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Speaker 1: Futures have one forty seven and as day futures have

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Speaker 1: one eighty one. Ten year Treasury up five thirty seconds.

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Speaker 1: You two point seven eight percent. They yield on the

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Speaker 1: two year three point oh four percent, and nine n

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Speaker 1: screwed oil is up a tenth of a percent. Nathan,

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Speaker 1: all right, Karen, we'll have more in markets in a minute.

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Speaker 1: It is a busy day with a Fed decision in

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Speaker 1: tech earnings reaction. But first, the Justice Department is taking

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Speaker 1: aim at Donald Trump. A federal grand jury is looking

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Speaker 1: into efforts by the former president to create false electors

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Speaker 1: to overturn the election. We get details from Amy Morris

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Speaker 1: in our Bloomberg newsroom in Washington. Mark Short, who was

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Speaker 1: chief of staff or former Vice President Mike Pence, and

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Speaker 1: Greg Jacob, who was Pence's teeth counsel, were asked by

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Speaker 1: federal prosecutors about conversations they had with former President Trump

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Speaker 1: about creating and submitting false elector certificates. This as Trump

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Speaker 1: addressed the America First Summit in d C was November.

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Speaker 1: The people are going to vote to stop the destruction

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Speaker 1: of our country. Sources tell Bloomberg the nature of the

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Speaker 1: questions before the grand jury indicate the probe has expanded

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Speaker 1: beyond those who attacked the capital. On January six, in Washington,

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Speaker 1: I'm Amy Morris, Bloomberg Daybreak, Hey mey, thank you. Another

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Speaker 1: major story in Washington this afternoons FED decision. Investors are

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Speaker 1: looking for another rate high from J. Powell and Company,

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Speaker 1: and we get more from Bloomberg's Michael McKee. Global. Wall

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Speaker 1: Street has priced in a three quarters percentage point increase

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Speaker 1: in the FEDS benchmark rate. The real question is what

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Speaker 1: comes next. At the past few meetings, FED Chair J.

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Speaker 1: Powell has suggested the FED would be looking at fifty

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Speaker 1: or seventy five basis point. Moves comments he's not likely

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Speaker 1: to repeat beneficials won't be making new forecasts at this meeting,

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Speaker 1: but there are signs the rate of inflation may be

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Speaker 1: starting to eat. At the same time the US economy

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Speaker 1: appears to be slowing. Expect Powell in his news conference

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Speaker 1: to try to retain as much flexibility as he can.

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Speaker 1: Michael McKee, Bloomberg, debriak, Michael, thank you. We'll have complete

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Speaker 1: coverage of the FED decision and cheer Powell's news conferences

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Speaker 1: afternoon in a special edition of Bloomberg Surveillance. Special coverage

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Speaker 1: starts on Bloomberg Radio and Television at one thirty pm

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Speaker 1: Wall Street Time. Turning the stocks now, Karen, we are

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Speaker 1: seeing futures get to pop this morning following some big

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Speaker 1: tech earnings. We begin with Microsoft. Those chairs are up

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Speaker 1: more than three and a half percent after the company

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Speaker 1: delivered an upbeat sales forecast. The story from Bloomberg's Charlie Pellett.

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Speaker 1: It eases investor concerns about growth that had flared up

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Speaker 1: following a lackluster fourth quarter earnings report. On the conference call,

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Speaker 1: the software giants said it expects revenue and operating income

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Speaker 1: growth at a double digit pace for fiscal twenty three,

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Speaker 1: which ends next June. Earlier, the company reported fourth quarter

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Speaker 1: sales and profit that fell short of analyst projections, held

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Speaker 1: act by on favorable currency exchange rates and weaker demand

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Speaker 1: for cloud computing services, personal computer software, and advertising. On

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Speaker 1: its online properties in New York. Charlie Pellett Bloomberg Daybreak.

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Speaker 1: All right, Charlie, thank you. We're also seeing shares of

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Speaker 1: Alphabet on the rise. This morning at three point four

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Speaker 1: per SAI, the Google parent reported revenue that was in

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Speaker 1: line with expectations. Angelo Zeno is senior equity analyst at CFRA.

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Speaker 1: There's a clear distinction between companies like Alphabet and Apple,

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Speaker 1: which are great compounders, great free cash flow generators, whether

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Speaker 1: you're going in an upturn or a downturn relative to

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Speaker 1: others out there. And Angeloso at CFRA says Google sales

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Speaker 1: gains Indicata's advertising business may be positioned well to weather

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Speaker 1: a crunch and marketing spending. It's another busy day for

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Speaker 1: earnings in Europe, Karen, where big banks are in focus.

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Speaker 1: Let's go to London and get the latest with Bloomberg's

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Speaker 1: You and Pot's Good morning You and good morning Nathan

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Speaker 1: and Karen. Another new boss, another new turnaround plan. Credit

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Speaker 1: Sweet is replacing its CEO after two years in the

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Speaker 1: job and rolling out a new plan to fix the

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Speaker 1: business just nine months after the last one. This has

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Speaker 1: the Swiss led the Post a large and unexpected loss

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Speaker 1: in the second quarter. Happier times over at Italy's UNI Credit,

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Speaker 1: though profits in the latest three months coming in a

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Speaker 1: double the level forecast by analysts, un Credit shares gaining

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Speaker 1: some five percent. This morning in London, I'm you and

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Speaker 1: parts day break, Hey you and thank you. He told

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Speaker 1: you yesterday about an SUC investigation centered on coin Base.

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Speaker 1: Now we're learning that has a big name investor cutting

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Speaker 1: bait on the crypto company. To get the latest life

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Speaker 1: from Bloomberg's Ready Too Young, Good Morning, Ready to Good morning,

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Speaker 1: Karen cathy Wood's Ark Investment Management dumps coin based shares

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Speaker 1: for the first time this year. Arcs daily trading data

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Speaker 1: compiled by Bloomberg show three of the funds sell just

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Speaker 1: over one point four one million shares, valued at about

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Speaker 1: seventy five million dollars as of yesterday's close, and of that,

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Speaker 1: the firm's flagship ARC Innovation et F sells one point

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Speaker 1: one two million shares of coin Base. Bloomberg sources say

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Speaker 1: coin bases facing a US probe into whether it improperly

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Speaker 1: led Americans trade digital assets that should have been registered

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Speaker 1: as securities. Shares of the world's largest US crypto exchange

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Speaker 1: lost about a fifth of their value. Tuesday Live in

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Speaker 1: New York. I'm gonna need a young Bloomberg daybreak. We

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Speaker 1: need to thank you. Turning to geopolitics, the U. S

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Speaker 1: And China are front and center, with Presidents Biden and

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Speaker 1: she Jinping set for a call tomorrow. Tensions are simmering

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Speaker 1: on a range of fronts, and we get the story

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Speaker 1: from Bloomberg. Said Baxter, the possible Nancy Pelosi trip to

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Speaker 1: Taiwan is number one. This is speaker Pelosi is being

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Speaker 1: urged by allies and foes alike to make the trip

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Speaker 1: to Taiwan, saying to Councel would look as if she's

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Speaker 1: backing down to China. And then it is smack dab

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Speaker 1: in the middle of the so called Chip bill debate,

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Speaker 1: which is supposed to pass the Senate today, going to

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Speaker 1: the House to be signed by the President by the

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Speaker 1: end of the week. So with that backdrop, how much

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Speaker 1: attention of Russia and Ukraine will get as a question

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Speaker 1: along with human rights? And the administration is now not

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Speaker 1: commenting on whether Mr Biden has decided on easing tariffs

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Speaker 1: in San Francisco. I'm at Baxter Bloomberg Daybreak, alright, ed,

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Speaker 1: thank you, futures are moving higher this morning. Straight ahead

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Speaker 1: your latest local headlines. In the check of sports. This

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Speaker 1: is Bloomberg and it's sounds six oh seven on Wall Street,

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Speaker 1: seventy one degrees in Central Park. Still dealing with an

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Speaker 1: accident southbound on the major Deagan and a hundred seventy

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Speaker 1: nine will get the latest details in traffic. First, Michael

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Speaker 1: Bars here with what else is going on in New

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Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.

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Speaker 1: New York Mayor Eric Adams says the era of catch, release,

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Speaker 1: repeat when it comes to criminals has to end. Adams

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Speaker 1: talked about the recent incident and a Harlem subway stop.

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Speaker 1: Video shows a team punching officers for several minutes at

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Speaker 1: the street station as police struggled to arrest him. Adams

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Speaker 1: says the team was arrested a few days ago and

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Speaker 1: was released before the incident. Just a total disregard for

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Speaker 1: public safety, not only for public safety for that Trisit officer,

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Speaker 1: but also for the person he robbed. This is what

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Speaker 1: we are saying about what is happening in our criminal

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Speaker 1: justice system. Earlier this week, in my p D trans Achieve,

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Speaker 1: Jason Wilcox says that assaults on his officers of skyrocketed

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Speaker 1: over a fifty five increase this year. New Jersey Governor

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Speaker 1: Phil Murphy's administration is asking state residents to use less

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Speaker 1: water amid a heat spell and scarce statewide rainfall. Some

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Speaker 1: parts of New Jersey had five straight days of temperatures

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Speaker 1: one hundred degrees or higher through Sunday. Officials stops short

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Speaker 1: of enacting restrictions. The families of the nine eleven victims

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Speaker 1: are letting pro golfers and former President Trump know they

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Speaker 1: are outraged over the Live Golf Invitational Saudi Back tournament

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Speaker 1: will be hosted at Trump's Bedminster, New Jersey golf course

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Speaker 1: on Friday. Terry Strada is the national chair of Nine

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Speaker 1: Eleven Families United. She called the pro golfers who are

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Speaker 1: participating sellouts. And they thought that taking a large sum

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Speaker 1: of money from the Kingdom, you know, would give them

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Speaker 1: all of this financial security. And it might do that,

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Speaker 1: but you're selling your soul to the devil when you

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Speaker 1: get in bed with the saudiast. The US government says

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Speaker 1: there was Saudi involvement in funding the terror network that

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Speaker 1: committed the nine eleven attack. It's a permanent place to

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Speaker 1: remember the late Jackie Robinson, the Brooklyn Dodger who broke

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Speaker 1: the color barrier, now has a museum in Soho in

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Speaker 1: his name. Several of robinson surviving relatives were in attendance

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Speaker 1: yesterday for the ribbon cutting. The museum officially opens to

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Speaker 1: the public September five. A giant Mega Millions lottery jackpot

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Speaker 1: balloon to over a billion dollars after no one matched

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Speaker 1: all six numbers and on the top prize. The next

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Speaker 1: drawing is Friday Global News twenty four hours a day

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

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

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Speaker 1: twenty countries. Michael Barr and this is Bloomberg. Nathan Okay,

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Speaker 1: Michael kill home to a six ten on Wall Street.

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Speaker 1: Time for the Bloomberg Sports Update with John Sesshire. Thanks

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Speaker 1: they can sell out crowd at City Field. They saw

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Speaker 1: an eventful first inning to start the Subway series. Yankees

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Speaker 1: and Mets both homer twice. Aaron Judge number thirty eight

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Speaker 1: hit it to the opposite field on the next pitch.

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Speaker 1: Anthony Rizzo, his twenty three of the year, also the

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Speaker 1: opposite way Mets didn't get a first any home run

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Speaker 1: from Starling Marte. Mets scored again, then Homer again. So

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Speaker 1: we're gonna drive in the air in the left well

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Speaker 1: hit Hicks going back turns. Watch this. It is to

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Speaker 1: Homer by edone Oh Escobar into the city sheets in

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Speaker 1: front of the great wall of pushing beyond the three

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Speaker 1: fifty eight part. It's a two run harbor for Escobar.

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Speaker 1: Cbs and Mets led the whole night from there they

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Speaker 1: did the Yanks six to three. Taiwan Walker beat Jordan Motgomery,

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Speaker 1: who labor. He got only seven ounce before departing four

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Speaker 1: outside for Edwin Diaz is twenty second. The series concludes

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Speaker 1: tonight a Mingo Herman against the Mets David Peterson. Before

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Speaker 1: the game, the Yankees but John Carlos Stanton on the

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Speaker 1: injured Lift Achilles ten tonightus Braves beat the Phillies, the

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Speaker 1: state two games behind the Mets. The Astros lost in Oakland.

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Speaker 1: They're still two behind the Yanks for best record American lead.

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Speaker 1: The Blue James beat the Cardinals. That's toronto seventh win

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Speaker 1: in a row. Baltimore by Tampa Bay to move over

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Speaker 1: five hundred of the Orioles are now ahead of the

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Speaker 1: Red Sox, who dropped to last place. NFL News with

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Speaker 1: the opening of all thirty two training camps, Tampa Bay

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Speaker 1: signed veteran white out Julio Jones, so he's back in

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Speaker 1: the NFC South. A seven time pro bowler while with Atlanta,

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Speaker 1: spent last season at Tennessee. Since the nati QB Joe

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Speaker 1: Burrow had an appendeck to me he'll miss a couple

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Speaker 1: of weeks. Seattle running back Chris Carson, a two time

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Speaker 1: thousand yard rushier, forced to retire at age seven due

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Speaker 1: to the neck injury. John Stash, However, Bloomberg Sports Nathan Okay, John,

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Speaker 1: thank you. SMP futures up thirty four points, South Futures

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Speaker 1: up a hundred thirty seven Nasdaq futures the tech heavy

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Speaker 1: side leading the games this morning with a hundred seventy

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Speaker 1: six point increase. That is a game of one and

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Speaker 1: a half percent. Dan, I've some white Bush securities, joins

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Speaker 1: us next on the Tech story. This is Bloomberg Flom

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Speaker 1: eleven three oh other. Sunshine upper eighties today, more clouds

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Speaker 1: than sun tomorrow, some scattered showers and storms possible with

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Speaker 1: with highs in the upper eighties. Right now seventy one

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Speaker 1: in Central Park markets, headlines and breaking news twenty four

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Speaker 1: hours a day at Bloomberg dot com, the Bloomberg Business

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Speaker 1: Out and at Bloomberg Victape, He's a Bloomberg Business flash

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Speaker 1: and I'm Karen Moscow stocks and US stock index futures

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Speaker 1: are rallying as a batch of resilient company earnings helped

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Speaker 1: to alleviate some of the wider caution and markets ahead

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Speaker 1: of a pivotal Federal Reserve monetary policy decision. We check

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Speaker 1: the markets every fifteen minutes throughout the trading day on

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Speaker 1: Bloomberg Guess and P futures up thirty four points this morning,

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Speaker 1: down futures up a hundred thirty four, Masday futures up

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Speaker 1: one d seventy, and the decks in Germany's up about

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Speaker 1: two tenths of a percent. Pen Your treasury of six

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Speaker 1: thirty seconds yield two point seven eight percent. They yield

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Speaker 1: on the two year three point oh four percent. NIMEX

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Speaker 1: screwed oil is up third of percent, up thirty three

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Speaker 1: cents and nine twenty nine cents of barrel comex sculled

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Speaker 1: up two tenths per cent or three dollars sixty cents

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Speaker 1: at seventeen thirty nine thirty announce the euro one point

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Speaker 1: one four two against the dollar British found one point

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Speaker 1: two zero six nine and the end one thirty six

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Speaker 1: point five seven. And looking at bitcoin, it's up when

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Speaker 1: in a third percent at twenty one thousand, two hundred

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Speaker 1: seventy dollars, that's a Bloomberg business flash. Now here's Michael

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Speaker 1: Barrow with more on what's going on around the world.

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Speaker 1: Michael Karen, thank you very much. The Justice Department is

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Speaker 1: said to be looking into former President Trump's actions as

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Speaker 1: part of its criminal investigation into the January sixth riot.

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Speaker 1: According to a person familiar with the matter, prosecutors have

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Speaker 1: been asking about conversations between Trump and his inner circle.

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Speaker 1: President Joe Biden plans to speak the Chinese president shi

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Speaker 1: Jing Ping tomorrow. It's scheduled to take place of New

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Speaker 1: Tensions as how Speaker Nancy Pelosi reportedly plans to visit Taiwan.

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Speaker 1: In baseball, the Mats beat the Yankee six three, The

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Speaker 1: Guardians beat the Red Sox eight three, The Orioles beat

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Speaker 1: the Rays, the Nationals beat the Dodgers, The A's down

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Speaker 1: the Astros. The Giants lost to the Diamondbacks. Seven three

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

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Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven

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Speaker 1: hundred journalists and analysts more than a hundred twenty countries.

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Speaker 1: Michael Barren, this is Bloomberg. Nathan Okay, Michael, thank you.

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Speaker 1: It is six nineteen on Wall Street Live from the

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Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg and Daybreak. We

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Speaker 1: want to talk more about the latest tech earnings. Are

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Speaker 1: watching shares of Microsoft in the pre markets still gaining

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Speaker 1: up about three point six percent in the pre market

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Speaker 1: after the software giant posted an outlook that suggests to

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Speaker 1: can weather the worst of the economic slowdown. Let's bring

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Speaker 1: in Dan Ives for more on this senior equity research

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Speaker 1: annelist had Wedbush Securities. Dan, It's always great to speak

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Speaker 1: with you, and it looks like we're seeing kind of

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Speaker 1: a sigh of relief across the tech sector. Isn't warranted

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Speaker 1: after Microsoft's results, Well, it's warranted because Cloud, I mean,

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Speaker 1: that's a pillar of enterprise spend and the best bambers

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Speaker 1: Microsoft Street was on Pindy Needles going into this much

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Speaker 1: better than expected. I mean it really not seeing any

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Speaker 1: sort of push outs in terms of cloud growth. Gave

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Speaker 1: strong guidance and I think it's a rocket Gibraltar stock

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Speaker 1: and what's been a dark economic storm, but this is

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Speaker 1: important for what cloud and enterprise spending streets gonna really

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Speaker 1: view this as a baramter going forward. There is still

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Speaker 1: a lot of competition in the cloud though, isn't there?

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Speaker 1: Does Microsoft have market share advantage in the cloud? Yeah? Well, Microsoft,

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Speaker 1: along with Amazon A WUS, they continue to dominate cloud

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Speaker 1: and of course Google being number three, and it's really

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Speaker 1: dominated by those three players. But Microsoft, look, they're just

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Speaker 1: in a man supposition of strength because this is their

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Speaker 1: backyard and I think the important data pointeers companies. Even

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Speaker 1: in a macro like this, they're accelerating the digital transformation

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Speaker 1: that's front and center. Is a positive from Microsoft to

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Speaker 1: Talent and obviously the jittery macro. This is what the

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Speaker 1: street needed, especially given what we've seen over the last

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Speaker 1: few weeks. This says something about the macro environment, though,

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Speaker 1: doesn't it. When we see Microsoft and its outlook saying

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Speaker 1: that it's going to be leaning more on the cloud side,

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Speaker 1: the commercial spend side as opposed to the consumer side

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Speaker 1: and PC software. What does that say about the direction

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Speaker 1: of Microsoft going forward? You know, I think it shows

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Speaker 1: a biofrocated tech market. You're going to continue see softness,

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Speaker 1: consumer driven PC obviously supply chain issues coming out of China.

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Speaker 1: Both the street cares about front center form. Microsoft is

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Speaker 1: the cloud business and that's that's what I've used the

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Speaker 1: core DNA of the growth thesis, and that's what we

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Speaker 1: saw last night. I also think when you're looking into

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Speaker 1: the overall macro, the street, the world is watching when

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Speaker 1: Microsoft gets gotten and I think this is no longer

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Speaker 1: of course alphabet and that's the one to punch that

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Speaker 1: the tech bowls needed and what's been a white knuckle environment. Yeah.

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Speaker 1: It was also interesting as well to hear the CEO

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Speaker 1: Satanadella talking about how the strong dollar has been a

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Speaker 1: headwind for Microsoft this quarter and despite that, thinking that

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Speaker 1: it's only going to need to cut sales by about

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Speaker 1: four percent for the year on continued dollar strength. What

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Speaker 1: do you make of that? Yeah, and the dollar strength,

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Speaker 1: especially for the multinationals, that's gonna be a headwin. We'll

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Speaker 1: see that from Apple tomorrow. As well. But but but

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Speaker 1: really that was a well known headwind. I think you

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Speaker 1: really streets trying to understand what cored demand looks like.

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Speaker 1: And if you think about many you know that that

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Speaker 1: have really talked about the nervousness that we're seeing across

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Speaker 1: the macro enterprises, given balance sheets, given the digital transformation,

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Speaker 1: it's pretty positive. And I think we'll see other data

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Speaker 1: points from Amazon on the w S side as well,

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Speaker 1: and that's important because that just shows you're gonna have

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Speaker 1: a fork in the road in terms attack and that's

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Speaker 1: really what you're seeing play out Microsoft. You know, it's

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Speaker 1: really out call alms Gidens heard around the world. And

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Speaker 1: speaking of the demand story in our last minute here,

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Speaker 1: I want to ask you a little bit about Alphabet's

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Speaker 1: results as well. Coming in stronger than expected on the

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Speaker 1: ads side. Does that ease some of the concerns for

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Speaker 1: you that we got after the less than exciting results

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Speaker 1: from snap and Twitter on ad spend. Yeah, and Snapchat

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Speaker 1: that was a nightmare in Elm Street Quarter and that

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Speaker 1: continues to be a disaster, and I think there were

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Speaker 1: fears that that was going to spread be being a

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Speaker 1: you with Facebook and of course with Google you'll get

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Speaker 1: ad hours better than feared, actually pretty strong in terms

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Speaker 1: of where they came in. It shows you'll see some swelling,

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Speaker 1: but especially with YouTube from the Golden Assets that's holding

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Speaker 1: up there than feared. You combine now with what we're

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Speaker 1: seeing with Microsoft, you're now starting to have second sort

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Speaker 1: of teak in terms of neb Things are not falling

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Speaker 1: off a cliff like some of the you know, heck

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Speaker 1: bears have kind of talked about, and I think this

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Speaker 1: is an important print, you know, in terms of a

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Speaker 1: broader tech sector. Always great having you on, Dan, Thanks

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Speaker 1: for coming back on with us. Dan Ives, senior analysts

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Speaker 1: for equity research at Wedbush Securities. Again looking at shares

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Speaker 1: of Microsoft in the pre market, they're moving by higher

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Speaker 1: by nearly four percent now after those stronger than expected

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Speaker 1: outlooks from the software Giant and cloud player with the

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Speaker 1: Azure Cloud service. Looking ahead to the market open more broadly,

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Speaker 1: SMP futures are higher by thirty two points, South futures

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Speaker 1: up a hundred twenty three and NASCAC futures leading the games.

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Speaker 1: Uh Tech leading the way this morning, up a hundred

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Speaker 1: sixty nine points for a gain of one point four percent.

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Speaker 1: Ten your treasury is up four thirty seconds, the yield

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Speaker 1: two point seven nine percent ahead of the Fed overserves

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Speaker 1: July policy decision. This is Bloomberg Bloomberg eleven three oh weather,

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Speaker 1: sunshine and highs near ninety today, tomorrow and the next day.

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Speaker 1: You could see some scattered showers and storms in the week.

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Speaker 1: Right now, it's seventy one degrees in SEPO. Broadcasting live

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Speaker 1: from the Bloomberg Interacted Broker Studio in New York. Bloomberg

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Speaker 1: E Living Freedom to Washington, d C. Bloomberg on to Boston,

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Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine

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Speaker 1: sixty to the country Sirius XM Chado one nine team,

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Speaker 1: and around the globe the Bloomberg Business app and Bloomberg

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Speaker 1: Radio dot Com. This is Bloomberg Daybreak and at six

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Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Hager and

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Speaker 1: I'm Kared Moscow. We are just about three hours away

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Speaker 1: from the open of US trading. It's time for the

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Speaker 1: five things that you need to know to start your day.

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Speaker 1: Brachy you by Interactive Brokers, Interactive Brokers, Simple IBK, our

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Speaker 1: trial at ibyk r dot com Slash Global Trader. First,

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Speaker 1: the f O m C meets in Washington, where the

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Speaker 1: Federal Reserve is expected to issue a seventy five basis

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Speaker 1: point rate high today. Every Core I s I Chief

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Speaker 1: equity strategist Julian Emmanuel said the FED risky anchoring inflation

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Speaker 1: if it raises rates today and then cuts them in

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Speaker 1: the future. Part of the dynamic in markets is that

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Speaker 1: we've all have lovean trained to expect stocks to rally.

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Speaker 1: When the FED cuts rates. To the extent that we

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Speaker 1: take that away, you're actually doing a service. Never, of course,

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Speaker 1: Julian Emmanuel said, the FED should tame inflation while keeping

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Speaker 1: the market fundamentally sound. Tune into a special edition of

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Speaker 1: Bloomberg Surveillance today for complete coverage of the FEDS starting

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Speaker 1: at one thirty Wall Street Time. Right back to Markets, Karen,

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Speaker 1: Futures are moving higher after earnings from Microsoft and Alphabet.

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Speaker 1: Today we hear from Meta, the parent of Facebook, Instagram,

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Speaker 1: and WhatsApp. Bloombergs Jeff Blinger has a preview. The bar

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Speaker 1: for Meta platforms is set low. The social media giant

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Speaker 1: recently slowed the pace of hiring, and there are some

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Speaker 1: general concerns about the era of social media dominance. Meta

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Speaker 1: is dealing with a number of headwinds, not the least

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Speaker 1: of which is the privacy change by Apple that complicates

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Speaker 1: ad targeting at a time when the risk of recession

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Speaker 1: could weigh on e commerce spending. Jeff Bellinger, Bloomberg Daybreak.

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Speaker 1: All right, Jeff, thank you. We told you yesterday about

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Speaker 1: an SEC investigation centered on coin Base. Now we're learning

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Speaker 1: a big name investor is cutting Baida. Bloomberg's Needy Young

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Speaker 1: joint US Live with more. Good morning, Nada, Good morning, Karen,

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Speaker 1: Cathy Woods. ARC Investment Management dumps coin based shares for

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Speaker 1: the first time this year. Arcs daily trading data compiled

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Speaker 1: by Bloomberg show three of the funds sell just over

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Speaker 1: one point four one million shares, valued at about seventy

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Speaker 1: five million dollars as of yesterday's close, and of that,

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Speaker 1: the firm's flagship Our Innovation e t F sells one

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Speaker 1: point one two million shares of coin base. Bloomberg sources

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Speaker 1: say coin bases facing a US probe into whether it

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Speaker 1: improperly led Americans trade digital assets that should have been

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Speaker 1: registered as securities. Coin based shares lost about a fifth

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Speaker 1: of their value. Tuesday Live in New York. I'm really

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Speaker 1: need a young Bloomberg day break. All we need to

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Speaker 1: thanks in a quick politics note of federal grand Juries

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Speaker 1: looking into efforts by former President Trump to create false

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Speaker 1: selectors to overturn the election. And that's the five things

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

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Speaker 1: by Interactive Brokers. This is Bloomberg at sixty three on

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Speaker 1: Wall Street where seventy one degrees in Central Park, dealing

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Speaker 1: with a crash on the belt Parkway East found approaching

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Speaker 1: Flatbush Avenue. More coming up in traffic. First Michael Barr

429
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Speaker 1: with more on what's going on in New York and

430
00:23:49,359 --> 00:23:52,199
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. New

431
00:23:52,280 --> 00:23:54,800
Speaker 1: York Mayor Eric Adams has the team shown in the

432
00:23:54,920 --> 00:23:58,000
Speaker 1: video punching police at a Harlem subway stop was arrested

433
00:23:58,040 --> 00:24:01,960
Speaker 1: for robbery as well, but was released just days before.

434
00:24:02,480 --> 00:24:06,160
Speaker 1: Adams says the era of catch, release, repeat for criminals

435
00:24:06,359 --> 00:24:10,360
Speaker 1: has to stop. Robberies a violent crime. So as soon

436
00:24:10,480 --> 00:24:15,040
Speaker 1: as we catch them, the system releases them and they

437
00:24:15,320 --> 00:24:19,439
Speaker 1: repeat the action. That is just you know, that's when

438
00:24:19,480 --> 00:24:21,560
Speaker 1: I say we to laugh the stock of the country.

439
00:24:21,840 --> 00:24:24,560
Speaker 1: This is what I'm talking about. Earlier this week, nmyp

440
00:24:24,680 --> 00:24:28,000
Speaker 1: D trans achieved. Jason Wilcox says that assaults on his

441
00:24:28,119 --> 00:24:31,720
Speaker 1: officers have skyrocketed over a fifty percent increase this year

442
00:24:32,280 --> 00:24:35,320
Speaker 1: Governor Phil Murphy's administration as New Jersey ends to use

443
00:24:35,440 --> 00:24:39,440
Speaker 1: less water amid a heat spell and scarce statewide rainfall.

444
00:24:39,920 --> 00:24:43,560
Speaker 1: Some parts of New Jersey, including the state's most populous city, Newark,

445
00:24:43,920 --> 00:24:46,959
Speaker 1: had recorded five straight days of temperatures one hundred degrees

446
00:24:47,080 --> 00:24:51,040
Speaker 1: or higher through Sunday. Infull Wars host Alex Jones, who

447
00:24:51,119 --> 00:24:55,600
Speaker 1: claimed that the massacre at Sandy Hook Elementary School in Newtown,

448
00:24:55,720 --> 00:24:59,200
Speaker 1: Connecticut was a hoax, was at a Texas courthouse to

449
00:24:59,320 --> 00:25:02,080
Speaker 1: defend his zact and a one fifty million dollar lawsuit

450
00:25:02,400 --> 00:25:05,399
Speaker 1: by the parents of one of the children killed. Jones

451
00:25:05,480 --> 00:25:09,560
Speaker 1: spoke about the court, this is a which hunt, This

452
00:25:09,960 --> 00:25:12,600
Speaker 1: is a show trial. This will go down in history

453
00:25:12,680 --> 00:25:15,760
Speaker 1: as the greatest show fralls ever to happen, not just here,

454
00:25:16,080 --> 00:25:19,800
Speaker 1: but even in the places psychotic charman. Jones now acknowledges

455
00:25:19,880 --> 00:25:22,360
Speaker 1: the Sandy Hook massacre that left twenty children and six

456
00:25:22,400 --> 00:25:26,200
Speaker 1: adults dead really happened, but he insists he's not responsible

457
00:25:26,280 --> 00:25:29,159
Speaker 1: for the harassment that Sandy Hook parents say they endured

458
00:25:29,240 --> 00:25:32,520
Speaker 1: by his followers as a result of his hoax conspiracy

459
00:25:32,600 --> 00:25:36,280
Speaker 1: claims that he pushed on his program. Ukrainian troops have

460
00:25:36,400 --> 00:25:39,879
Speaker 1: struck a strategic bridge essential for Moscow to supply its

461
00:25:39,960 --> 00:25:44,040
Speaker 1: forces occupying the country's south. Officials said the bridge remained standing,

462
00:25:44,240 --> 00:25:47,600
Speaker 1: but its surface was pierced with holes, forcing a halt

463
00:25:47,760 --> 00:25:51,760
Speaker 1: to traffic. With summer travel underway, the CDC is recommending

464
00:25:51,800 --> 00:25:55,840
Speaker 1: more hand washing and using hand sanitizer. Is monkeypox cases

465
00:25:56,000 --> 00:25:59,080
Speaker 1: rise Reported cases in the US jumped in nearly thirty

466
00:25:59,160 --> 00:26:03,320
Speaker 1: three in the last four days. Your Dreams Are Still

467
00:26:03,400 --> 00:26:07,000
Speaker 1: Alive Tuesday, July twenty six and tonight's Mega Millions jack

468
00:26:07,040 --> 00:26:09,560
Speaker 1: plot has an estimated a new tize eight hundred and

469
00:26:09,680 --> 00:26:13,879
Speaker 1: thirty million dollars giant Mega Millions lottery jack pot balloon

470
00:26:13,960 --> 00:26:16,680
Speaker 1: to over a billion dollars now after no one last

471
00:26:16,800 --> 00:26:19,080
Speaker 1: night matched all six numbers and won the top prize.

472
00:26:19,119 --> 00:26:21,880
Speaker 1: The next drawing is Friday Global News twenty four hours

473
00:26:21,920 --> 00:26:24,040
Speaker 1: a day on air and on Bloomberg Quick Take Power

474
00:26:24,119 --> 00:26:26,719
Speaker 1: by board of the twenty seven hundred journalists analysts more

475
00:26:26,720 --> 00:26:29,160
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg.

476
00:26:29,240 --> 00:26:36,760
Speaker 1: Nathan see in line, Michael, thank you. Six thirty six

477
00:26:36,840 --> 00:26:38,800
Speaker 1: on Wall Street Temper for the Bloomberg Sports Update with

478
00:26:38,880 --> 00:26:41,359
Speaker 1: John Stash. All Right, Nathan and met sixty win of

479
00:26:41,400 --> 00:26:43,040
Speaker 1: the year. They beat the Yankee six to three to

480
00:26:43,119 --> 00:26:45,680
Speaker 1: start the Subway series and study Field City Field. Good

481
00:26:45,680 --> 00:26:47,880
Speaker 1: start for the Yankees, back to back home run's first

482
00:26:47,920 --> 00:26:51,719
Speaker 1: inning Aaron Judge then Anthony Rizzo consecutive pitches both hit

483
00:26:51,800 --> 00:26:54,240
Speaker 1: the opposite way thirty eighth of the year for Judge,

484
00:26:54,560 --> 00:26:56,159
Speaker 1: but the Mats with two homers their own in the

485
00:26:56,200 --> 00:26:58,640
Speaker 1: bottom of the first Darling Mark Day then Eduardo Escobar

486
00:26:58,760 --> 00:27:01,680
Speaker 1: Taiwan Walker settled down, worked out of a bass load

487
00:27:01,720 --> 00:27:04,000
Speaker 1: of jam and the fourth Walker got the win. Was

488
00:27:04,080 --> 00:27:07,480
Speaker 1: then asked about pitching before a loud sellout crowds electric Um,

489
00:27:07,520 --> 00:27:10,040
Speaker 1: my game with two home runs and I was like, man, um,

490
00:27:10,840 --> 00:27:13,159
Speaker 1: it's not off. Took the start here, but you know,

491
00:27:13,240 --> 00:27:15,200
Speaker 1: we answered back. Dophins was really good to answered back

492
00:27:15,200 --> 00:27:17,280
Speaker 1: with four runs in the first and Um, after that,

493
00:27:17,320 --> 00:27:18,720
Speaker 1: my job was just good shut down endings and I

494
00:27:18,760 --> 00:27:20,080
Speaker 1: was able to do that. When he has got to

495
00:27:20,119 --> 00:27:22,160
Speaker 1: save Jordan Montgomery took the loss. He was not happy

496
00:27:22,160 --> 00:27:24,000
Speaker 1: when Aaron Brune took him out with just one out

497
00:27:24,080 --> 00:27:26,800
Speaker 1: in the third an another sellout crowd. Tonight the series ends.

498
00:27:26,840 --> 00:27:30,000
Speaker 1: It's Domingo Herman versus David Peterson. The Yanks gonna be

499
00:27:30,040 --> 00:27:32,600
Speaker 1: without John Carlos Stanton for a couple of weeks. Achilles

500
00:27:33,000 --> 00:27:36,040
Speaker 1: ten Denitis Braves beat the Phillies Atlantis to two games

501
00:27:36,080 --> 00:27:37,639
Speaker 1: by the Mets. Astro is still two back of the

502
00:27:37,720 --> 00:27:40,440
Speaker 1: Yankees for best record of American League is Houston lost

503
00:27:40,480 --> 00:27:43,000
Speaker 1: the second straight in Oakland. Toronto's seventh win in a

504
00:27:43,080 --> 00:27:45,480
Speaker 1: row beat St. Louis. The Cardinals were without their two

505
00:27:45,480 --> 00:27:47,720
Speaker 1: best hitters, Paul Goldsmith and Nolan Aaron Outo. They're not

506
00:27:47,760 --> 00:27:51,800
Speaker 1: allowed into Toronto they're both unvaccinated. Baltimore beat Tampa Bay

507
00:27:51,840 --> 00:27:54,160
Speaker 1: moved over five hundred moved ahead of the Red Sox,

508
00:27:54,200 --> 00:27:56,760
Speaker 1: who are now in the last place. Jets training camp

509
00:27:56,920 --> 00:27:59,639
Speaker 1: underway and good news on a key player, tackle Mackay.

510
00:28:00,119 --> 00:28:04,159
Speaker 1: Jenny came in having noticeably lost the considerable amount of

511
00:28:04,200 --> 00:28:06,600
Speaker 1: weight back then injured almost all of last season. It

512
00:28:06,720 --> 00:28:09,000
Speaker 1: was said to be out of shape during the off season.

513
00:28:09,160 --> 00:28:13,040
Speaker 1: John Bloomberg Sports, Right, John, thank you, six thirty seven

514
00:28:13,119 --> 00:28:14,840
Speaker 1: on Wall Street, Time to take a look at stuck,

515
00:28:14,920 --> 00:28:16,520
Speaker 1: some of the names moving in the pre market with

516
00:28:16,560 --> 00:28:20,040
Speaker 1: Bloomberg Radio and TV Markets correspondent Creating Gupta on a

517
00:28:20,119 --> 00:28:23,560
Speaker 1: morning where tech is leading the way? Is Microsoft? What

518
00:28:23,680 --> 00:28:26,800
Speaker 1: a sigh of relief looks like? Creat It kind of

519
00:28:26,880 --> 00:28:29,080
Speaker 1: seems like it. And I'm selling alphabet Is as well

520
00:28:29,280 --> 00:28:31,280
Speaker 1: with some of the Microsoft shares. So they're up three

521
00:28:31,359 --> 00:28:33,800
Speaker 1: point eight percent M S F T is your ticker,

522
00:28:34,160 --> 00:28:36,680
Speaker 1: Google or Alphabet shares are up as well to tune

523
00:28:36,680 --> 00:28:38,720
Speaker 1: about three point four percent. G O O G s

524
00:28:38,760 --> 00:28:41,000
Speaker 1: your ticker. There. You know, Nathan went so crucial here,

525
00:28:41,080 --> 00:28:42,640
Speaker 1: they think going into these earnings there was kind of

526
00:28:42,720 --> 00:28:45,120
Speaker 1: this doom and gloom approach to it, almost that if

527
00:28:45,160 --> 00:28:46,960
Speaker 1: you know, if big Tech doesn't hold up, then what

528
00:28:47,200 --> 00:28:49,600
Speaker 1: chance do any of these other companies in the SMP

529
00:28:49,720 --> 00:28:51,880
Speaker 1: five hundred have. But not only did they hold up,

530
00:28:51,920 --> 00:28:54,160
Speaker 1: they said, well, you know what we are resilience. I

531
00:28:54,200 --> 00:28:57,320
Speaker 1: think that's crucial here. A lot of the ads slowdown

532
00:28:57,360 --> 00:28:59,840
Speaker 1: that we saw in Snapchat and Twitter, well when it

533
00:29:00,160 --> 00:29:02,920
Speaker 1: to Alphabet, it did still hit them, hit them in

534
00:29:02,960 --> 00:29:05,560
Speaker 1: their YouTube business. Their ad business there, but it didn't

535
00:29:05,600 --> 00:29:07,400
Speaker 1: hit them in their search business. And I remember, this

536
00:29:07,520 --> 00:29:09,280
Speaker 1: is why it makes Alphabet so unique. They are a

537
00:29:09,280 --> 00:29:11,880
Speaker 1: little bit more diversified when it comes to that kind

538
00:29:11,880 --> 00:29:15,320
Speaker 1: of ad revenue business. Remember, Alphabet also has a kind

539
00:29:15,360 --> 00:29:18,520
Speaker 1: of budding business and cloud something that Amazon really dominates.

540
00:29:18,560 --> 00:29:21,440
Speaker 1: Microsoft is number two there, but Alphabet is growing on

541
00:29:21,560 --> 00:29:24,120
Speaker 1: that front as well. From the Microsoft side, they actually

542
00:29:24,160 --> 00:29:27,120
Speaker 1: said that business investment is actually booming. So remember we're

543
00:29:27,120 --> 00:29:29,440
Speaker 1: in the middle of this massive cloud revolution. A big

544
00:29:29,800 --> 00:29:33,080
Speaker 1: chunk of Microsoft's bottom line comes from their cloud business Asia.

545
00:29:33,520 --> 00:29:36,200
Speaker 1: So when you're saying that a lot of businesses who,

546
00:29:36,440 --> 00:29:39,040
Speaker 1: by the way, have now adapted to remote work, for example,

547
00:29:39,360 --> 00:29:42,120
Speaker 1: are now shifting to the cloud, they're likely using either

548
00:29:42,160 --> 00:29:45,640
Speaker 1: Amazon Web Services or Asia, and Microsoft is is saying, well,

549
00:29:45,680 --> 00:29:48,760
Speaker 1: that's actually a really good thing. So both uh companies

550
00:29:48,800 --> 00:29:51,120
Speaker 1: actually coming in and beating some of those estimates, which

551
00:29:51,160 --> 00:29:52,800
Speaker 1: is good news at a time when everyone is saying

552
00:29:52,960 --> 00:29:55,520
Speaker 1: recession is on the horizon. Things aren't looking good. Yeah,

553
00:29:55,560 --> 00:29:58,000
Speaker 1: And speaking of resilient creaty, is that what we can

554
00:29:58,080 --> 00:30:01,920
Speaker 1: say about McDonald's after their you know, we should write

555
00:30:02,000 --> 00:30:04,320
Speaker 1: and theory you would you would think that they would

556
00:30:04,360 --> 00:30:06,719
Speaker 1: come out and and actually have a better morning than

557
00:30:06,760 --> 00:30:10,320
Speaker 1: they are. But McDonald's is interesting because, yes, they came

558
00:30:10,320 --> 00:30:14,320
Speaker 1: out with some strong earnings as well yesterday, but Deutsche

559
00:30:14,360 --> 00:30:16,520
Speaker 1: Bank actually came out and downgraded it to a hold

560
00:30:16,640 --> 00:30:18,640
Speaker 1: from A by m c D s R takers down

561
00:30:18,640 --> 00:30:20,560
Speaker 1: about two tenths percent, But keep an eye on this.

562
00:30:20,960 --> 00:30:24,120
Speaker 1: Their argument over at Deutsche Bank is that inflationary pressures

563
00:30:24,320 --> 00:30:26,960
Speaker 1: will limit any further upside. So, yes, that was a

564
00:30:27,000 --> 00:30:29,280
Speaker 1: good set of earnings. Is it going to stay there

565
00:30:29,440 --> 00:30:32,240
Speaker 1: is the question, especially because McDonald's does kind of target

566
00:30:32,320 --> 00:30:36,160
Speaker 1: a lower end consumer and they're the most um afflicted

567
00:30:36,600 --> 00:30:39,400
Speaker 1: by inflation just just given um kind of the wealth

568
00:30:39,440 --> 00:30:42,440
Speaker 1: demographic there. So that's certainly something to watch. The currency

569
00:30:42,520 --> 00:30:45,120
Speaker 1: story though for McDonald's was actually interesting that even if

570
00:30:45,160 --> 00:30:47,240
Speaker 1: you did take in some of the currency conversions, remember

571
00:30:47,280 --> 00:30:50,040
Speaker 1: over six the revenue comes from abroad abroad, they actually

572
00:30:50,080 --> 00:30:52,320
Speaker 1: still did pretty well. Nathan all Right, bloom Bergradio on

573
00:30:52,400 --> 00:30:55,120
Speaker 1: TV Markets correspondent, Creedy group. That keeping us on top

574
00:30:55,280 --> 00:30:57,400
Speaker 1: of the pre market story, and as we checked stocks

575
00:30:57,440 --> 00:30:59,880
Speaker 1: as a whole ahead of the open and ahead of

576
00:30:59,880 --> 00:31:03,440
Speaker 1: a FED decision, futures are moving higher. SMP futures up

577
00:31:03,480 --> 00:31:06,880
Speaker 1: thirty four points, Staff Features up hundred thirty five. Nastack

578
00:31:06,920 --> 00:31:08,920
Speaker 1: Future is on the rise by a hundred seventy five points.

579
00:31:09,040 --> 00:31:11,680
Speaker 1: Tenure Treasury is up four thirty seconds now for a

580
00:31:11,760 --> 00:31:15,880
Speaker 1: yield two point seven nine percent. You're listening to bloombird

581
00:31:16,040 --> 00:31:24,480
Speaker 1: Day right Bloomberg eleven three oh weather. Sunshine and a

582
00:31:24,560 --> 00:31:26,280
Speaker 1: high in the upper eighties today will get in your

583
00:31:26,320 --> 00:31:29,480
Speaker 1: ninety tomorrow with some scattered showers and storms possible. We'll

584
00:31:29,560 --> 00:31:31,440
Speaker 1: keep the storm thread in the forecast Friday as well,

585
00:31:31,480 --> 00:31:33,560
Speaker 1: with highs in the upper eighties once again. Seventy one

586
00:31:33,680 --> 00:31:40,240
Speaker 1: currently markets headlines and breaking news twenty four hours a

587
00:31:40,360 --> 00:31:43,360
Speaker 1: day at Bloomberg dot Com, the Bloomberg Business at and

588
00:31:43,520 --> 00:31:53,440
Speaker 1: at Bloomberg Quick Tape. He's a Bloomberg Business Flash and

589
00:31:53,520 --> 00:31:56,160
Speaker 1: I'm camerin Moscow. Futures on the rise this morning. We

590
00:31:56,240 --> 00:31:58,360
Speaker 1: got to the first word breaking news dash for today's

591
00:31:58,400 --> 00:32:00,920
Speaker 1: morning call, and here's Bill below need Bill, Good morning

592
00:32:01,840 --> 00:32:04,240
Speaker 1: and good morning Karen. That's right. US futures are in

593
00:32:04,320 --> 00:32:07,600
Speaker 1: the green, helped by earnings from Microsoft and Google. Deal

594
00:32:07,680 --> 00:32:10,120
Speaker 1: Futures currently up a hundred and thirty three points. Sides

595
00:32:10,160 --> 00:32:12,840
Speaker 1: game thirty five, while Nastic futures are up by one

596
00:32:13,480 --> 00:32:16,680
Speaker 1: eight The US ten year a two point seven nine percent,

597
00:32:16,800 --> 00:32:18,640
Speaker 1: Gold is up five, Oil is in the green, and

598
00:32:18,760 --> 00:32:21,160
Speaker 1: bitcoin is trading higher by one and a half percent.

599
00:32:21,520 --> 00:32:24,480
Speaker 1: Hong Hong fell one point one percent overnight, while Europan

600
00:32:24,520 --> 00:32:26,600
Speaker 1: markets are in the green this morning and back in

601
00:32:26,640 --> 00:32:29,240
Speaker 1: the US. On the economic Fronday, Dirty durable goods orders

602
00:32:29,280 --> 00:32:31,800
Speaker 1: at ten o'clock, penning home sales, and at two o'clock

603
00:32:31,920 --> 00:32:35,480
Speaker 1: the f O MC rate decision. After develops night, Microsoft

604
00:32:35,560 --> 00:32:39,120
Speaker 1: gave an up each three sales growth forecast and Google

605
00:32:39,200 --> 00:32:41,160
Speaker 1: report it is trading higher by three and a half

606
00:32:41,200 --> 00:32:44,080
Speaker 1: percent pre market. Regarding some of the earnings this morning,

607
00:32:44,160 --> 00:32:47,120
Speaker 1: Humanity epspeed estimates and looked for Boeing to report in

608
00:32:47,160 --> 00:32:49,680
Speaker 1: the pre market. In another news, elliott Is said to

609
00:32:49,720 --> 00:32:53,520
Speaker 1: amass a PayPal steak and wrapping things up, McDonald's was

610
00:32:53,600 --> 00:32:56,520
Speaker 1: cut to hold over at deutsch Your bank live from

611
00:32:56,560 --> 00:32:59,800
Speaker 1: the first breaking news Descomb, Bill Maloney, Karen, all right,

612
00:33:00,160 --> 00:33:02,800
Speaker 1: thank you and here lie breaking news of your Bloomberg

613
00:33:02,920 --> 00:33:05,720
Speaker 1: type squawk on your terminal, that's s q U a

614
00:33:06,040 --> 00:33:08,560
Speaker 1: w K and taking a look at currencies this morning.

615
00:33:08,640 --> 00:33:11,680
Speaker 1: The euro at one five one against the dollar, British

616
00:33:11,720 --> 00:33:14,479
Speaker 1: pound one point to zero six one, the yen at

617
00:33:14,520 --> 00:33:17,360
Speaker 1: one thirties six points seven one, and we're watching bitcoin

618
00:33:17,520 --> 00:33:20,120
Speaker 1: is always up one and a half percent at twenty

619
00:33:20,200 --> 00:33:23,600
Speaker 1: one thousand, three hundred dollars. That's a Bloomberg business flash.

620
00:33:23,680 --> 00:33:25,880
Speaker 1: Now here's Michael Barrow with Moore on what's going on

621
00:33:26,000 --> 00:33:28,960
Speaker 1: around the world. Michael, Karen, thank you very much. The

622
00:33:29,080 --> 00:33:32,400
Speaker 1: Justice Department is said to be investigating efforts by former

623
00:33:32,480 --> 00:33:36,240
Speaker 1: President Donald Trump and his inner circle to create false

624
00:33:36,280 --> 00:33:39,560
Speaker 1: electors and fresh your former Vice president Mike Pence to

625
00:33:39,680 --> 00:33:44,000
Speaker 1: overturn the election. According to a person familiar with the matter,

626
00:33:44,360 --> 00:33:48,320
Speaker 1: Pence's former chief of staff Mark Short and Greg Jacob

627
00:33:48,440 --> 00:33:52,560
Speaker 1: pences then chief counsel, appeared before grand jury in recent days.

628
00:33:53,280 --> 00:33:56,600
Speaker 1: W NBA star Britney Grinder will testify today and her

629
00:33:56,680 --> 00:33:59,640
Speaker 1: drug trial in Russia. She could get ten years in

630
00:33:59,720 --> 00:34:03,280
Speaker 1: pre is an if convicted. So you're saying I still

631
00:34:03,440 --> 00:34:06,920
Speaker 1: have a chance. The Giant Mega Millions lottery jack pot

632
00:34:06,960 --> 00:34:10,479
Speaker 1: balloon to over a billion dollars after no One last

633
00:34:10,640 --> 00:34:12,840
Speaker 1: night matched all six numbers and won the top prize.

634
00:34:12,920 --> 00:34:15,800
Speaker 1: The next drawing is Friday. In baseball, the Mets be

635
00:34:15,920 --> 00:34:18,760
Speaker 1: the Yankee six three. The Guardians beat the Red Sox,

636
00:34:18,960 --> 00:34:21,720
Speaker 1: the Orioles beat the Rays, The Nationals beat the Dodgers.

637
00:34:22,000 --> 00:34:24,200
Speaker 1: The A's down the Astros. The Giants lost to the

638
00:34:24,280 --> 00:34:27,120
Speaker 1: Diamond Box. Global News twenty four hours a day on

639
00:34:27,239 --> 00:34:30,600
Speaker 1: air and on Bloomberg Quicktake, powered by more than und

640
00:34:30,760 --> 00:34:33,640
Speaker 1: journalists analysts more than a hundred twenty countries. I'm Michael Barr,

641
00:34:33,680 --> 00:34:36,080
Speaker 1: and this is Bloomberg. Carry all right, Michael, thank you.

642
00:34:36,200 --> 00:34:38,560
Speaker 1: At A sixty nine on Wall Street, we turned to

643
00:34:38,640 --> 00:34:41,800
Speaker 1: news and science and technology Now. But the Bloomberg and

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00:34:41,960 --> 00:34:44,480
Speaker 1: j I T. STEM Report brought to you by New

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00:34:44,600 --> 00:34:49,520
Speaker 1: Jersey Institute of Technology, transforming computing professionals into data scientists

646
00:34:49,560 --> 00:34:52,279
Speaker 1: to meet the demand in this fast growing field. Learn

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00:34:52,360 --> 00:34:54,239
Speaker 1: more at and j I T DOT E d U

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00:34:54,400 --> 00:34:58,520
Speaker 1: slash data science now. Here's just making news in science, technology,

649
00:34:58,680 --> 00:35:02,360
Speaker 1: engineering and math. In Asia, a district on the outskirts

650
00:35:02,360 --> 00:35:05,960
Speaker 1: at Wuhan has been locked down, affecting around one million people.

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00:35:06,320 --> 00:35:08,440
Speaker 1: It is the first time the Chinese city, which saw

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00:35:08,480 --> 00:35:11,600
Speaker 1: the world's first lockdown, has faced new restrictions for two years.

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00:35:12,000 --> 00:35:15,600
Speaker 1: Authorities gave the order after four asymptomatic cases were found

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00:35:15,640 --> 00:35:18,680
Speaker 1: in the area. Their razors shows napping, as well as

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00:35:18,719 --> 00:35:22,480
Speaker 1: sleeping too much or too little, or having poor sleep patterns,

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00:35:22,680 --> 00:35:26,280
Speaker 1: appears to increase the risk for cardiovascular disease and older adults.

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00:35:26,680 --> 00:35:29,520
Speaker 1: The study, published in the Journal of the American Heart Association,

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00:35:29,600 --> 00:35:32,760
Speaker 1: adds to a growing body of evidence supporting sleep's importance

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00:35:32,800 --> 00:35:36,160
Speaker 1: to good health. The American Heart Association recently added sleep

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00:35:36,239 --> 00:35:39,160
Speaker 1: duration to its checklist of health and lifestyle factors for

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00:35:39,239 --> 00:35:43,160
Speaker 1: cardiovascular to health, known as Life's Essential eight. It says

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00:35:43,160 --> 00:35:46,160
Speaker 1: adults should average seven to nine hours of sleep at night.

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00:35:46,960 --> 00:35:49,279
Speaker 1: And the space jacket worn by buzz All Drin while

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00:35:49,360 --> 00:35:51,480
Speaker 1: flying to the Moon is reported to have sold it

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00:35:51,480 --> 00:35:54,080
Speaker 1: auction for two point eight million dollars. Aldrin were the

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00:35:54,120 --> 00:35:56,560
Speaker 1: white jacket for the majority of the six Days Space

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00:35:56,640 --> 00:35:59,920
Speaker 1: Journey in nineteen sixty nine. It becomes the most valuable

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00:36:00,000 --> 00:36:04,120
Speaker 1: American space artifact ever sold at auction. That's a Bloomberg

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00:36:04,200 --> 00:36:07,320
Speaker 1: and j I d S Stem Report, Nathan and Secoman jacket.

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00:36:07,320 --> 00:36:09,240
Speaker 1: Thank you, Karen. We are live from the Bloomberg Interactive

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00:36:09,239 --> 00:36:11,360
Speaker 1: Brokers studios where it is now six fifty one on

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00:36:11,480 --> 00:36:13,160
Speaker 1: Wall Street and it's time to check what's going on

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00:36:13,239 --> 00:36:15,480
Speaker 1: in d C. Some of the top stories in our

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00:36:15,560 --> 00:36:18,600
Speaker 1: nation's capital include former President Donald Trump now part of

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00:36:18,640 --> 00:36:22,760
Speaker 1: the Justice Department investigation into efforts to overturn the election.

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00:36:23,040 --> 00:36:26,439
Speaker 1: President Biden said to speak tomorrow with China Chi Jin Ping,

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00:36:26,920 --> 00:36:31,080
Speaker 1: and Schumer telling donors a tech antitrust measure is unlikely

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00:36:31,160 --> 00:36:33,279
Speaker 1: to pass. Let's bring back Terry Haynes, wh run all

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00:36:33,280 --> 00:36:36,279
Speaker 1: these stories, the founder of Panjia Policy. Terry, great to

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00:36:36,320 --> 00:36:40,040
Speaker 1: speak with you again. So how much importance do you

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00:36:40,160 --> 00:36:44,279
Speaker 1: put on these reports that the Justice Department now potentially

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00:36:44,360 --> 00:36:48,719
Speaker 1: has former President Donald Trump in its sites. Good morning, Nathan, Uh.

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00:36:49,200 --> 00:36:54,440
Speaker 1: I would caution folks that too, against over reaction. I

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00:36:54,480 --> 00:36:57,759
Speaker 1: think it was very little new here, and uh, you know,

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00:36:57,840 --> 00:36:59,880
Speaker 1: and I think it's easy to to sort of slide

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00:37:00,000 --> 00:37:03,719
Speaker 1: back in the kind of Mueller era, uh, thinking there's

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00:37:03,760 --> 00:37:06,680
Speaker 1: more going on here than than there really is. It's

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00:37:06,800 --> 00:37:10,120
Speaker 1: entirely responsible for the Justice Department to be investigating this stuff,

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00:37:10,160 --> 00:37:12,880
Speaker 1: of course, but at the same time, staying in a

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00:37:12,960 --> 00:37:16,000
Speaker 1: year and a half to get to it. Um, And

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00:37:16,880 --> 00:37:19,480
Speaker 1: you know, I wonder how much is here at roots,

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00:37:19,640 --> 00:37:24,880
Speaker 1: So you know, there there's watching. But I think in

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00:37:25,000 --> 00:37:28,880
Speaker 1: the end, uh, it's just another part of this investigation

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00:37:29,000 --> 00:37:33,200
Speaker 1: that's been going on for quite some time, and uh,

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00:37:33,600 --> 00:37:37,239
Speaker 1: you know, judging by past reactions, is unlikely to yield

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00:37:37,360 --> 00:37:41,120
Speaker 1: something clean or large. But again we'll see what they have.

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00:37:42,040 --> 00:37:44,440
Speaker 1: Of course, this is coming is to the former president

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00:37:44,760 --> 00:37:47,320
Speaker 1: is hinting that he may run for president again in

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00:37:49,920 --> 00:37:56,520
Speaker 1: is there an excess there? Well, yeah, it's been There

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00:37:56,600 --> 00:37:59,080
Speaker 1: is a political nexus there, certainly. I mean my my

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00:37:59,600 --> 00:38:02,680
Speaker 1: own view of this is that the Democrats have both

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00:38:02,719 --> 00:38:05,920
Speaker 1: in Congress and the Justice Department have slow walked this

703
00:38:06,040 --> 00:38:09,439
Speaker 1: thing for quite a while. Uh. You know, it took

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00:38:09,640 --> 00:38:14,120
Speaker 1: Congress less time to come to conclusions on how Pearl

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00:38:14,200 --> 00:38:18,520
Speaker 1: Harbor happened. Then it's uh, it's taken folks to figure

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00:38:18,520 --> 00:38:22,320
Speaker 1: out what's gone on after January six, and uh, you

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00:38:22,400 --> 00:38:24,360
Speaker 1: know they and you know, I think the country at

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00:38:24,440 --> 00:38:27,319
Speaker 1: large would be a lot better off if this had

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00:38:27,400 --> 00:38:30,680
Speaker 1: been speeded up, Uh, that the investigation had been made

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00:38:30,680 --> 00:38:34,760
Speaker 1: as bipartisan as possible, and if if the Justice Department

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00:38:35,560 --> 00:38:42,400
Speaker 1: actually have delved into this much more in real time. Uh. Politically, Uh, Democrats,

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00:38:42,520 --> 00:38:47,080
Speaker 1: I think forfeit the opportunity to bring consensus around a

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00:38:47,160 --> 00:38:49,759
Speaker 1: lot of these issues, so it has the potential to

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00:38:49,840 --> 00:38:52,080
Speaker 1: backfire on them in the mid terms. Do you think

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00:38:52,160 --> 00:38:55,000
Speaker 1: this investigation gets wrapped up either by the Justice Department

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00:38:55,080 --> 00:38:58,400
Speaker 1: or by the January six Committee before the mid terms. Oh,

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00:38:58,440 --> 00:39:00,600
Speaker 1: I think the January six that he would like to

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00:39:00,680 --> 00:39:02,640
Speaker 1: put a bow on whatever it is that they're doing

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00:39:02,719 --> 00:39:05,040
Speaker 1: before the mid terms. But they might not. I mean,

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00:39:05,160 --> 00:39:08,440
Speaker 1: things may may continue on. They they have a pattern

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00:39:08,520 --> 00:39:10,279
Speaker 1: of saying, you know, more to come, more to come,

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00:39:10,320 --> 00:39:13,000
Speaker 1: more to come. But at the same time, uh, you know,

723
00:39:13,120 --> 00:39:15,520
Speaker 1: Congress ends at the you know, effectively at the end

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00:39:15,560 --> 00:39:18,759
Speaker 1: of the calendar years, so they better they better wrap up. Uh.

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00:39:19,120 --> 00:39:21,719
Speaker 1: Justice you know now that they're working with a grand

726
00:39:21,800 --> 00:39:24,680
Speaker 1: jury frankly that you know that'll take some time and

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00:39:25,239 --> 00:39:29,200
Speaker 1: uh uh you know, they can continue to present evidence

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00:39:29,239 --> 00:39:31,440
Speaker 1: before grand jury, but there's not going to be an

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00:39:31,520 --> 00:39:34,200
Speaker 1: arbitrary end of that grand jury, so you know, I

730
00:39:34,480 --> 00:39:37,759
Speaker 1: tend to think that might take much longer. That's been

731
00:39:37,800 --> 00:39:42,160
Speaker 1: the pattern with Justice departments past and present, and that's

732
00:39:42,200 --> 00:39:46,239
Speaker 1: likely to continue. And we're expecting President Biden to get

733
00:39:46,320 --> 00:39:50,680
Speaker 1: that long awaited phone call between him and Chinese President

734
00:39:50,760 --> 00:39:53,799
Speaker 1: Shi jin Ping coming up tomorrow. Now, this is coming

735
00:39:53,840 --> 00:39:57,120
Speaker 1: in a particularly tense time in US China relations. What

736
00:39:57,160 --> 00:40:01,000
Speaker 1: are you watching for their terry? I'm watching beyond the

737
00:40:01,440 --> 00:40:04,359
Speaker 1: whole kerfuffle of that Pelosi. I'm watching really two things.

738
00:40:04,480 --> 00:40:09,640
Speaker 1: One is uh just uh just how the Chinese read

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00:40:09,680 --> 00:40:12,200
Speaker 1: out that proceeds. In other words, you know, the Chinese

740
00:40:12,239 --> 00:40:14,480
Speaker 1: and the Americans both have their own readouts of these things,

741
00:40:14,560 --> 00:40:18,440
Speaker 1: and and there's frequently uh holes between them that are

742
00:40:18,640 --> 00:40:23,319
Speaker 1: that provides some some illumination. And the Chinese readout, of course,

743
00:40:23,360 --> 00:40:25,320
Speaker 1: will be one thing, and that will be kind of

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00:40:25,440 --> 00:40:28,520
Speaker 1: resolute on Taiwan and the one China solution and all

745
00:40:28,560 --> 00:40:32,040
Speaker 1: the rest. I look, I'm the more interesting part of

746
00:40:32,120 --> 00:40:36,680
Speaker 1: this to me is to see how the American side

747
00:40:37,200 --> 00:40:42,680
Speaker 1: clarifies its its own Taiwan policy. Firstly because there that's

748
00:40:42,680 --> 00:40:46,000
Speaker 1: been kind of raggedly rolled out, um and there's a

749
00:40:46,040 --> 00:40:48,920
Speaker 1: little bit of context around the potential Pelosi visit there

750
00:40:48,960 --> 00:40:51,840
Speaker 1: as well. But also for markets, you know, I wouldn't

751
00:40:51,840 --> 00:40:56,040
Speaker 1: look for too much or really anything substantial on tariffs.

752
00:40:56,320 --> 00:40:59,239
Speaker 1: The White House continues to say that the president's making

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00:40:59,320 --> 00:41:01,120
Speaker 1: up his mind all though they've been talking about this

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00:41:01,280 --> 00:41:03,920
Speaker 1: for a year and a half, and any adjustments are

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00:41:04,000 --> 00:41:06,759
Speaker 1: not going to be particularly large. Do not look for

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00:41:06,800 --> 00:41:10,800
Speaker 1: any particular breakthrough here. What's your expectation on where the

757
00:41:10,920 --> 00:41:14,719
Speaker 1: President could go on tariffs, given that we aren't expecting

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00:41:15,000 --> 00:41:17,000
Speaker 1: much to be discussed there on that front, and we

759
00:41:17,040 --> 00:41:20,400
Speaker 1: got about a minute left here. Yeah, I just you know,

760
00:41:20,560 --> 00:41:23,560
Speaker 1: they they'll talk about some adjustments. They've been talking about

761
00:41:23,560 --> 00:41:27,520
Speaker 1: adjustments for quite a while. But you know, this is

762
00:41:27,640 --> 00:41:30,839
Speaker 1: bureaucratic tinkering on on one level, and on the other level,

763
00:41:30,960 --> 00:41:34,560
Speaker 1: it's a it's a fight inside the administration about whether

764
00:41:35,160 --> 00:41:41,120
Speaker 1: massively overhauling tariff policy makes any difference either to the

765
00:41:41,160 --> 00:41:44,000
Speaker 1: broader United States China relationship or whether it makes any

766
00:41:44,040 --> 00:41:47,120
Speaker 1: difference to markets. There's a faction that wants to talk

767
00:41:47,160 --> 00:41:52,640
Speaker 1: about UH tariff adjustments as part of an inflationary response,

768
00:41:53,200 --> 00:41:55,279
Speaker 1: but the other half says, look, I mean they're they're

769
00:41:55,320 --> 00:41:57,960
Speaker 1: only small to begin with, and it's not going to

770
00:41:58,080 --> 00:42:02,320
Speaker 1: make any immediate impact upon UH upon average citizens. So

771
00:42:02,440 --> 00:42:05,640
Speaker 1: I even bother. Thanks Terry, thanks again for being with us.

772
00:42:05,719 --> 00:42:09,080
Speaker 1: Terry Haynes is the founder of Pangaea Policy. You can

773
00:42:09,120 --> 00:42:11,440
Speaker 1: read more about all these stories out of the nation's

774
00:42:11,520 --> 00:42:14,160
Speaker 1: capital on Bloomberg dot com or on the Bloomberg terminal.

775
00:42:14,480 --> 00:42:17,840
Speaker 1: Follow all the latest on Bloomberg Radio in Washington. Bloomberg

776
00:42:19,080 --> 00:42:21,600
Speaker 1: and one oh five point seven fm h D two,

777
00:42:21,600 --> 00:42:23,200
Speaker 1: and of course, the other big event coming out of

778
00:42:23,239 --> 00:42:27,280
Speaker 1: Washington this afternoon, a July policy decision from the Federal Reserve.

779
00:42:27,640 --> 00:42:30,399
Speaker 1: We have special coverage coming up in a special edition

780
00:42:30,400 --> 00:42:34,120
Speaker 1: of Bloomberg Surveillance that begins at one thirty this afternoon

781
00:42:34,160 --> 00:42:37,280
Speaker 1: Wall Street Time, ahead of the Fed decision at two PM.

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00:42:37,600 --> 00:42:41,960
Speaker 1: Bloomberg Surveillance the Morning Edition begins next with Tom Kane,

783
00:42:42,040 --> 00:42:44,839
Speaker 1: John Pharaoh, and Lisa Brahmo. It's for Karen Moscow. I'm

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00:42:44,920 --> 00:42:48,239
Speaker 1: Nathan Hagar, and this is Bloomberg