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Speaker 1: Live from the Bloomberg Interactive Brooker's Studios. This is Bloomberg

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Speaker 1: Daybreak for Thursday, March three. Coming up this hour, Russia

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Speaker 1: presses ahead in Ukraine as the war enters its second week.

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Speaker 1: Boyle continues, It's March higher, hitting the highest level since

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Speaker 1: two thousand eight. J Pali stands pad on plans for

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Speaker 1: a rate hike this month and the January six. Panels

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Speaker 1: says evidence suggests crimes committed by Donald Trump. New York

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Speaker 1: school chancellor says he wants to stop the exodus of students.

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Speaker 1: Plus Supreme Court nominee Brown Jackson is making the rounds

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Speaker 1: on Capitol Hill. On Michael Blarm, We're ahead of John

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Speaker 1: Stay Sharon Sports, the Nick Lawston Philadelphia, The Rangers beat

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Speaker 1: the Blues College who wins for St? John's, Seaton Hall

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Speaker 1: and Rutger. That's all straight ahead on Bloomberg day Break

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Speaker 1: on Bloomberg Elementary 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: Old on Bloomberg Radio dot Com and via the Bloomberg

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Speaker 1: Business good morning. I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak,

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Speaker 1: brought to you by Interactive Brokers Global Analysts, helps you

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Speaker 1: find new global investment opportunities. To diversify your portfolio and

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Speaker 1: discover undervalued companies that may have greater growth potential. Try

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Speaker 1: I b k R Global Analysts today at I b

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Speaker 1: k R dot Com. Slash, g A and US futures

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Speaker 1: are lower this morning six o one on Wall Street.

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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, SNP future is down ten points down, futures

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Speaker 1: down forty eight, NASTAG futures down fifty eight, and the

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Speaker 1: tenure treasury up six thirty seconds. The yeld one point

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Speaker 1: eight five percent, yield on the two year one point

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Speaker 1: for eight percent. NIMEX screwed oil is up two point

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Speaker 1: four percent at a hundred thirteen dollars twenty eight cents

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Speaker 1: a barrel. Nathan Karen will have more on the markets

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Speaker 1: in a minute, but first, the war in Ukraine is

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Speaker 1: entering its second week. Russian forces are pressing ahead with

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Speaker 1: their offensive, firing missiles at the capital of Kiev. Moscow's

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Speaker 1: also stepped up a campaign to take cities in the south.

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Speaker 1: Ukraine's President Vladimir Zolinsky says Russian troops will be met

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Speaker 1: with force wherever they go. They will be destroyed. They

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Speaker 1: will not have common they will not have food, they

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Speaker 1: will not have one quiet moment. The occupied receive only

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Speaker 1: one thing for the Ukrainian resistance. Fifth President Vladimir Zelinski

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Speaker 1: is telling Russian troops to go home. Ukraine is set

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Speaker 1: for a second round of talks with Moscow today. Meantime,

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Speaker 1: Nathan the United Nations is ramping up its rhetoric on Russia.

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Speaker 1: The U n Secretary General is demanding Moscow removed troops

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Speaker 1: from Ukraine, and Bloomberry's Ed Bachelor has the story. An

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Speaker 1: overwhelming majority of the General Assembly back Russian condemnation forty

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Speaker 1: one four five against thirty five Abstained. Secretary General Antonio

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Speaker 1: Guterres says the world demands peace. People in Ukraine desperately

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Speaker 1: needed peaces, and people demanded this as representatives from Ukraine

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Speaker 1: and Russia are headed to the Belarus Poland border today

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Speaker 1: for a second round of talks, and Secretary of State

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Speaker 1: Anthony blink And has headed to Europe for talks with NATO.

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Speaker 1: Allies in San Francisco. I'm at Bachelor Bloomberg daybreak. Okay

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Speaker 1: and thank you. Russian finances are feeling more pain this morning.

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Speaker 1: The country's credit rating has been cut to junk by

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Speaker 1: both Moodies and Fitch Ratings. Both worn that sanctions can

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Speaker 1: undermine Russia's capability and willingness to service debt. Well. Nathan

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Speaker 1: Oil continues, It's march higher this morning, hitting levels we

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Speaker 1: haven't seen in fourteen years. We get the latest lie

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Speaker 1: from Bloomberg's John Tucker, John Karen. Buyers continue to shun

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Speaker 1: Russian crude and traders are betting the prices will keep rising.

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Speaker 1: Don't expect any help from OPEC plus. After thirteen minute meeting,

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Speaker 1: they stuck to just a mild increase in production and

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Speaker 1: don't expect help from US shell producers. They say labor

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Speaker 1: and material shortages are hurting their production. It's not just oil,

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Speaker 1: commodities rising across the board. Bloomberg's gage of raw materials

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Speaker 1: is closing in on the biggest weekly gain in sixty years,

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Speaker 1: Aluminum hit a record, and wheat prices extended their meteoric rally.

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Speaker 1: These commodities are not subject as sanctions, but surging freight

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Speaker 1: and insurance costs are keeping buyers away. Live in New York.

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Speaker 1: I'm John Tucker, Bloomberg Daybreak. Okay, John, thank you. Despite

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Speaker 1: risks from Russia's invasion of Ukraine, J Powell is making

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Speaker 1: the fight against inflation his top priority. The FED chair

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Speaker 1: testified before ours panel yesterday, saying he supports a rate

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Speaker 1: hike later this month. I do think it will be

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Speaker 1: appropriate to raise our target ranch for their fellow funds

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Speaker 1: rate at the March meeting in a couple of weeks,

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Speaker 1: and I'm inclined to propose and support a twenty five

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Speaker 1: basis point rate hike. And to the extent inflation comes

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Speaker 1: in higher or is more persistently high than that, then

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Speaker 1: we would be prepared to move more aggressively by by

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Speaker 1: raising the fellow funds rate by more than twenty five

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Speaker 1: basis point. FED Chair J. Powell testifies before Congress again today,

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Speaker 1: this time to the Senate Banking Committee, Well, Nathan. The

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Speaker 1: next major event for J. Powell and the Fed is

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Speaker 1: Friday's jobs report of the past year. Rapid wage growth

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Speaker 1: has left business as scrambling to keep up, and it

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Speaker 1: looks like that trend will continue Bloomber's rind to Young

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Speaker 1: joins us now at the details. Good morning Renda, Good

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Speaker 1: morning Karen. The February jobs report is expected to show

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Speaker 1: average hourly earnings rose a half a percent last month,

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Speaker 1: pushing year over year games close to six percent, and

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Speaker 1: if you exclude two pandemic distorted prints in the annual

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Speaker 1: increase would be the strongest in data going back fifteen years.

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Speaker 1: Some slowing is expected, but wage growth is poised to

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Speaker 1: remain exceptionally strong this year. High labor costs are yet

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Speaker 1: another factor the Fed will have to contend with as

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Speaker 1: it works to cool the hottest inflation in a generation.

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Speaker 1: In New York, I'm renneda young Bloomberg daybreak, Rina. Thanks.

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Speaker 1: Turning to politics now, we have new developments involving the

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Speaker 1: January six attack on the Capitol. The Congressional committee investigating

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Speaker 1: the incident says it may have evidence former President Trump

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Speaker 1: was part of a criminal conspiracy. Amy Morris reports from

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Speaker 1: our Bloomberg newsroom in Washington. The committee says Trump advisor

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Speaker 1: John Eastman's emails device President Mike Pence's lawyer show evidence

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Speaker 1: of obstruction of an official proceeding, a felony that carries

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Speaker 1: a maximum of twenty years in prison, and the emails,

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Speaker 1: he blames Pence for the riot and says, quote, I

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Speaker 1: implore you to consider one more relatively minor violation of

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Speaker 1: the Electoral count Act and adjourned for ten days and

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Speaker 1: a court filing. The committee says Eastman knew what he

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Speaker 1: was proposing would violate the law, but pushed the Vice

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Speaker 1: President to do it anyway. In Washington, I'm Amy Morris,

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Speaker 1: Bloomberg Daybreak, Amy, thank you. Let's turn back to the

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Speaker 1: markets now. As some corporate items of note this morning

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Speaker 1: shares a Snowflaker plunging their down more than after the

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Speaker 1: software company projected a slowing sales growth. It's expected to

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Speaker 1: fall from a previous triple digit percentage pace, and Tesla

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Speaker 1: is back in the news. Karen CEO Elon Musk is

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Speaker 1: challenging the United Auto Workers union to hold a vote

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Speaker 1: at its California factory. Musk says Tesla will do nothing

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Speaker 1: to stop union organizers. The challenge comes after President Biden

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Speaker 1: again failed to mention Tesla while promoting elect vehicles in

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Speaker 1: his State of the Union address. The White House is

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Speaker 1: a big supporter of labor unions SSP futures down down

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Speaker 1: eight points, STAPH futures down thirty nine, NASTAC futures lower

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Speaker 1: by forty nine points. The Tanger Treasury is up five

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Speaker 1: thirty seconds. The yield one point eight five. Straight ahead,

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Speaker 1: your latest local headlines and a check of sports. This

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Speaker 1: is Bloomberg now six o seven on Wall Street. Showers

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Speaker 1: forty three degrees in Central Park northbound, Route one and

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Speaker 1: nine closed in Elizabeth Details coming up in traffic. First

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Speaker 1: Michael Barr with more on what's 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: People in New York are coming together to show support

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Speaker 1: for Ukraine as the Russian invasion continues. Hundreds of people

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Speaker 1: gathered at St. George, Ukrainian Catholic Church in the East

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Speaker 1: Village last night to sing and pray. The church has

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Speaker 1: become a focal point for the humanitarian effort by raising

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Speaker 1: funds for everything from food and clothing to medical supplies.

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Speaker 1: Among the worshippers. New York Governor Kathy hokeleba we stand.

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Speaker 1: New York City has the large is Ukrainian population in

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Speaker 1: the US. President Biden's picked to replace Supreme Court Justice

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Speaker 1: Stephen Bryer is making the rounds on Capitol Hill. Judge

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Speaker 1: Kaitanji Brown Jackson met with lawmakers her confirmation hearings could

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Speaker 1: begin soon. Japanese scientists say the omicron strain of COVID

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Speaker 1: nineteen is at least more lethal than seasonal flu. Countries

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Speaker 1: around the world have been relaxing mask mandates and testing requirements,

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Speaker 1: visibly annoyed Florida government. Around the Santis admonished a group

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Speaker 1: of students for wearing face masks at an indoor news

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Speaker 1: conference that happened before he spoke about cybersecurity and education

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Speaker 1: at the University of South Florida in Tampak and we

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Speaker 1: got a spot this code of theater. Want to wear fine,

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Speaker 1: but this is this is ridiculous. Some of the students

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Speaker 1: took their masks off before Governor de Santists took the podium.

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Speaker 1: New Jersey Governor Phil Murphy received some good news about

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Speaker 1: the state a credit rating upgrade. The story from Bloomberg's

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Speaker 1: Charlie Pellett. Moody's Investors Service raised New Jersey's credit rating,

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Speaker 1: giving the state its first upgrade since two thousand five

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Speaker 1: after years of pension under funding and benefit increases. An

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Speaker 1: upgrade can lead to reduce borrowing costs for states, as

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Speaker 1: bond investors are willing to accept lower yields from issuers

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Speaker 1: considered less likely to default. In New York, Charlie Pellett

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Speaker 1: Bloomberg PayBreak, New York City Schools Chancellor David Banks pledged

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Speaker 1: to bring a new normal to the U S's largest

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Speaker 1: school system. The outline a plan to reverse an exodus

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Speaker 1: of students by improving digital learning, reducing bureaucracy, and expanding

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Speaker 1: gifted programs. Global News twenty four hours a day on

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Speaker 1: air and on Bloomberg Quick Take, powered by more than

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

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Speaker 1: twenty countries. Michael Barr, This is Bloomberg. Thanks Michael. Coming

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Speaker 1: up to six ten on Wall Street. Time for the

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Speaker 1: Bloomberg Sports Update with John Stenshower. All right, Nathan, familiar

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Speaker 1: script for the next good start, not a good finished.

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Speaker 1: Another loss, now sixteen losses in the last nineteen games.

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Speaker 1: In Philadelphia, Nicks tin trail into the third quarter, but

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Speaker 1: the Sixers pulled away one to one oh eight and

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Speaker 1: they sweep to home at home. Joe l MB twenty

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Speaker 1: seven points. He took thirteen free throws. That's down from

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Speaker 1: the twenty seven that he took in Sunday's game at

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Speaker 1: the Garden. James Harden and his home debut in Philly

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Speaker 1: twenty six points and near triple double. R J. Barrett

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Speaker 1: of the Knicks with thirty A, Julius Randon at twenty

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Speaker 1: four but Alec Perks and even four together shot three

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Speaker 1: of nineteen nets. Home tonight from Miami, Kevin Durant makes

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Speaker 1: his return from the knee injury that's kept out for

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Speaker 1: more than six weeks. The East leading heat last night

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Speaker 1: in Milwaukee. Led by fourteen with six minutes to go,

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Speaker 1: the Bucks rallied to win by one. At the Garden,

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Speaker 1: Rangers led St. Louis to nothing and then trailed three

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Speaker 1: two and the third two off on here Harris Hawk

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Speaker 1: towards that girl throw a little too deep and he

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Speaker 1: puts it on call stop right off six store. Patrick

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Speaker 1: Nevereth from the point bite set it off barbershop. Patrick Nevereth.

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Speaker 1: That's tied the game at three. Piana. They called Chris

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Speaker 1: Crider would have a power play goals thirty fifth goal

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Speaker 1: the season. The Rangers beat the Blues five to three,

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Speaker 1: Big forty eight point second half for St. John's The

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Speaker 1: Red Storm beat Zavi eight one sixty six. Also the

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Speaker 1: Big East, Seaton Hall down Georgetown seventy three to sixty eight.

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Speaker 1: The joyas r o N eighteen in the Big East.

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Speaker 1: And yet the school says it is committed to its coach,

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Speaker 1: who happens to be the greatest player in school history.

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Speaker 1: Patrick Ewing Rutgers helped at TENNC double a hope for

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Speaker 1: the win at Indiana, the Giants shed some payroll, they

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Speaker 1: cut running back DeVante Booker and tight end Kyle Rudeau,

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Speaker 1: John Stash Howard, Bloomberg Sports, Nathan John thanks SMP futures

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Speaker 1: down down eight and a half point, staff futures down

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Speaker 1: forty seven, NASTAC futures lower by forty six points, and

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Speaker 1: the ten year treasury is up six thirty seconds, the

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Speaker 1: yield one point eight percent. You're listening to Bloomberg Gay

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Speaker 1: Brael coming up to six twelve on Wall Street. Bloomberg

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Speaker 1: Daybreak is brought to you by Audie. Don't let someone

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Speaker 1: wheel of yours. Today, Markets headlines and breaking news twenty

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Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg

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Speaker 1: Business Outland at Bloomberg Quick Tape. This is a Bloomberg

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Speaker 1: Business lash. Hi, good morning, I'm Karen. Moscow futures are

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Speaker 1: little change to lower this morning. European stocks are lower

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Speaker 1: as the war in Ukraine enters its second week, and

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Speaker 1: investors way the impact of surging commodity prices on inflation

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Speaker 1: and economic growth. Check the markets every fifteen minutes throughout

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Speaker 1: the trading day. On Bloomberg s and P futures. They're

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Speaker 1: down about four points right now. Dow futures are little

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Speaker 1: change now today. Future is down thirty six. The decks

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Speaker 1: in Germany is down eight tenths of upper cent ten.

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Speaker 1: Your treasury up six thirty seconds. He had one point

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Speaker 1: eight five percent. The yield on the two year one

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Speaker 1: point for nine percent. Nine neck Screwed oil is up

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Speaker 1: two point seven percent, up two dollars ninety eight cents

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Speaker 1: at a hundred thirteen dollars fifty five cents of barrel.

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Speaker 1: Comic School is up seven tenths per cent, or fourteen

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Speaker 1: dollars at nineteen thirty six thirty an ounce. The Euro

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Speaker 1: one point one zero eight zero against the dollar. British

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Speaker 1: found one point three three seven five, the yen is

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Speaker 1: at one fifteen point seven five and Bitcoin this morning

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Speaker 1: moving lower down more than when a quarter percent at

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Speaker 1: forty three thousand, five hundred dollars. Today we do get

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Speaker 1: the weekly report on initial jobless claims at an eight

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Speaker 1: thirty Wall Street time at tennis factory orders and durable

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Speaker 1: goods orders, as well as a look at service industries.

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Speaker 1: That's a Bloomberg business flash. Now here's Michael Barrow with

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Speaker 1: more on what's going on around the world. Uncle Clarin,

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Speaker 1: thank you very much. The UN Refugee Agency says one

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Speaker 1: million people have fled Ukraine since Russian invaded the country

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Speaker 1: a week ago. Meanwhile, Russia fired missiles at Key Eve

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Speaker 1: overnight and stepped up their campaign to take cities in

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Speaker 1: the coastal south in the reversal. Russian and Belarusian athletes

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Speaker 1: have been banned from the Paralympics for their country's roles

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Speaker 1: in the war in Ukraine. The International Paralympic Committee announced

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Speaker 1: the about face less than twenty four hours after saying

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Speaker 1: it would allow Russian and bellersi and athletes to compete

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Speaker 1: when the game's open tomorrow in the NBA, the Knicks

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Speaker 1: lost in the NHL, The Rangers won. Global News twenty

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Speaker 1: four hours a day on air and on Bloomberg Quick Take,

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Speaker 1: powered by more than twenty seven under journalists and analysts

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Speaker 1: in more than one twenty countries. Michael barn This is Bloomberg.

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Speaker 1: This is the Big Take, the best of Bloomberg's in depth,

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Speaker 1: original reporting from around the globe. We're running on a

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Speaker 1: financial system that's running on old technology. We're seeing host

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Speaker 1: places which fresh recortize what unfolds in mid terms. We

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Speaker 1: will no doubt see again in the next presidential election.

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Speaker 1: The Big Take on Bloomberg Radio coming up to six

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Speaker 1: Street Line from the Bloomberg Interactive Broker Studios. This is

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Speaker 1: Bloomberg Daybreak, and our big take this morning is on

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Speaker 1: the financial war against Russia. The US and its allies

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Speaker 1: are going after the country's wealthiest businessmen with punishing sanctions

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Speaker 1: over the invasion of Ukraine. Could it spell the end

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Speaker 1: of Vladimir Putin's decades in power, the end of the

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Speaker 1: oligarch era in Russia? Here with more on the Big

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Speaker 1: Take is the reporter who wrote it Bloomberg. Stephanie Baker

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Speaker 1: is with us this morning, Stephanie, good to have you

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Speaker 1: with us. We heard the President in the State of

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Speaker 1: the Union with a big applause line saying they're going

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Speaker 1: after the luxury apartments, the yachts of the oligarchs, and

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Speaker 1: just this morning France said that it sees the yacht

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Speaker 1: owned by Rosneft CEO igor Secheon isn't having an impact,

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Speaker 1: it is UM and you know, time will tell if

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Speaker 1: they really follow through on some of this big talk

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Speaker 1: and sees more assets. But as you said, UM, the

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Speaker 1: French have seized eager Sechon Uh. This the the head

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Speaker 1: of Rosneft his yacht UM. And I think this is

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Speaker 1: just the beginning UH. And this will inflict pain uh

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Speaker 1: and have a huge impact on you know, wealthy Russians

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Speaker 1: who have gotten used to UM, you know, keeping their yachts,

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Speaker 1: having their mansions in the South of France, their London

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Speaker 1: Mayfair town houses and their New York pent houses. UM.

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Speaker 1: I think it will have an effect, and it already

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Speaker 1: is as we've seen from UM, even wealthy Russians who

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Speaker 1: have not been sanctioned moving to dump their assets, like

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Speaker 1: Roman Abramovich with Chelsea putting it up for sale as

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Speaker 1: he did yesterday you mentioned the lineup of French yachts

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Speaker 1: along the Riviera owned by Russians. It sort of speaks

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Speaker 1: to the entrenchment of Russian money in the European economy.

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Speaker 1: Has that been what's kind of held the US and

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Speaker 1: the European Union back in the past when it comes

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Speaker 1: to punishing Russia over some of its many UH infractions

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Speaker 1: in the past, like poisoning opponents of Vladimir Putin annexing Crimea.

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Speaker 1: You know, sure there there there there were plenty of

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Speaker 1: warning signs and alarm bells going off, you know, from

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Speaker 1: the poisoning of Alexander Litvinenko to the poisoning of Sergey

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Speaker 1: screep Paul in the annexation of Crimea. And in each

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Speaker 1: case there were actions taken that in retrospect look pretty

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Speaker 1: feeble compared to what we're seeing now. UH. You know,

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Speaker 1: this time, this is an unprecedented coordinated round of sanctions.

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Speaker 1: Some you know, the EU has moved much more aggressively

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Speaker 1: than say the UK. UM. The US has talked about

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Speaker 1: UM further UH targeting of individuals UM so that the

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Speaker 1: idea behind it is to starve UH Putin's regime from

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Speaker 1: the funds to finance this war, but short of an

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Speaker 1: embargo on Russian oil and gas, it will it will

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Speaker 1: have an effect, but a limited effect. That he still

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Speaker 1: has a means of financing this war through um oil

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Speaker 1: and gas sales to the West. There has been some

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Speaker 1: talk lately about the idea of that business leaders in

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Speaker 1: Russia are there because Putin has put them there. In

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Speaker 1: terms of the sanctions we're seeing so far against oligarchs,

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Speaker 1: how much impact how much influence do these billionaires really

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Speaker 1: have on Putin as far as we can tell, Well,

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Speaker 1: you know, in the ninety nineties, UM, the oligarchs really

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Speaker 1: did control the Kremlin, and when Putin came to power,

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Speaker 1: he kind of turned it upside down and uh, you

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Speaker 1: know changed the game and put and in some respects

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Speaker 1: he um demanded fealty and loyalty from those oligarchs, and

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Speaker 1: if they did not comply, he hit back. So I

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Speaker 1: think the balance of power had has indeed changed. That

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Speaker 1: does not mean that sanctioning the oligarchs will not have

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Speaker 1: an effect, because the amount of losses from these sanctions

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Speaker 1: is just staggering. Um. The country and most of the

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Speaker 1: big businesses have been bankrupt as a result of these

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Speaker 1: and you know this will take time to filter through. Um,

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Speaker 1: but indeed, having the entire elite class lose so much

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Speaker 1: wealth overnight is bound to have an impact on Putin.

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Speaker 1: How this all plays out is too difficult to tell

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Speaker 1: right now. Um, but indeed I think it The idea

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Speaker 1: is to isolate and starve him of funds to make

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Speaker 1: it more costly for him to wage this war. Bloomberg

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Speaker 1: Stephanie Baker with the Big Take this morning on the

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Speaker 1: potential end of the Oligarch era in Russia. You can

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Speaker 1: read much more Bloomberg dot Com, Slash Big Take or

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Speaker 1: and I Big Take go on the Bloomberg terminal. Future

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Speaker 1: is moving lower. Stay with us. You're listening to Bloomberg

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Speaker 1: day Break Bloomberg eleven three oh weather rain ending this morning, clearing, breezy,

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Speaker 1: low forties. Today, will be in the upper thirties, mostly sunny,

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Speaker 1: Tomorrow mostly cloudy mid forties by Saturday. Right now forty

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Speaker 1: and Central Park broadcasting live from the Bloomberg Interactive Broker

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Speaker 1: Studio in New York. Bloomberg E Living freed on to Washington,

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Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one

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Speaker 1: to San Francisco, Bloomberg sixt to the country, Sirius XM

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Speaker 1: to the one nine team, and around the globe, the

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Speaker 1: Bloomberg Business APT and Bloomberg Radio dot com. This is

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Speaker 1: Bloomberg Daybreak six thirty on Wall Street. Good morning, I'm

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Speaker 1: Nathan Hagar and I'm Faren Mosta. We're about three hours

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

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

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Speaker 1: dot com slash cryptow First, the war in Ukraine is

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Speaker 1: entering a second week. Russian forces are pressing ahead, firing

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Speaker 1: missiles at the capital city of Kiev. They're also stepping

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Speaker 1: up campaigns it takes cities in the south. Ukraine's President

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Speaker 1: Vladimir z Lenski says Russian troops are being met with force.

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Speaker 1: I don't see our army is doing everything to fully

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Speaker 1: break the enemy. Nearly nine thousand Russians have been killed

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Speaker 1: in one week. President vladimir's Lenski is telling Russian troops

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Speaker 1: to go home and Karen, we're seeing this war continue

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Speaker 1: to have a massive impact on commodities. Let's get the

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Speaker 1: latest on that line from Bloomberg's John Tucker. John Nathan

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Speaker 1: Bloomberg's gage of raw materials is closing in on the

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Speaker 1: biggest weekly game in sixty years, as banks, importers, and

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Speaker 1: shippers all steer clear of Russian exports. Frank cruzz Sword

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Speaker 1: near one dollars of barrel illuminum hit a record at

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Speaker 1: wheat rallied at the highest level since two thousand and eight.

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Speaker 1: The decision by OPEC plus to leave out plans of

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Speaker 1: their output plans on change adds to the risk that

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Speaker 1: inflation will slow the global economy. Even before the invasion,

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Speaker 1: US retail gasoline was at its highest level since two

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Speaker 1: thousand fourteen. Live in New York. I'm John Tucker, Bloomberg

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Speaker 1: Day break. All right, John, thank you for speaking of inflation.

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Speaker 1: J Powell addresses that topic today and another round of

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Speaker 1: congressional testimony. The fat share is making the fight against

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Speaker 1: prices his top priority, saying he supports a rate high

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Speaker 1: later this month. Well next to the Fedcaren is Tomorrow's

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Speaker 1: jobs report. Rapid wage growth has left businesses scrambling to

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Speaker 1: keep up, and it looks like that trend will continue.

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Speaker 1: Bloomberg's you need a young joins us with the details

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Speaker 1: on that. Nina, Good morning. The February jobs report is

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Speaker 1: expected to show average hourly earnings rose a half a

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Speaker 1: percent last month, pushing year over year gains close to

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Speaker 1: six percent, and if you exclude two pandemic distorted prints

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Speaker 1: in the annual increase would be the strongest in data

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Speaker 1: going back fifteen years. Some slowing is expected, but wage

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Speaker 1: growth is poised to remain exceptionally strong this year. In

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Speaker 1: New York, I'm we need a young Bloomberg debris all right,

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Speaker 1: reay to thank you. And in politics this morning, the

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Speaker 1: January six Congressional panel says evidence suggests crimes were committed

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Speaker 1: by former President Trump. The panel says emails from Trump

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Speaker 1: advisor John Eastman may contain evidence of obstruction of an

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Speaker 1: official proceeding. Eastman is sued to block release of the emails.

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Speaker 1: And that's the five things you need to notice start

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Speaker 1: your day, Brought to you by Interactive Brokers, straight Ahead,

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Speaker 1: your latest local headlines, plus a check of sports. And

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Speaker 1: this is Bloomberg. Karen Thanks sixty three on Wall Street

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Speaker 1: thirty nine degrees in Central Park still got problems on

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Speaker 1: northbound Route one and nine and Elizabeth Michael bars here

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

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

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Speaker 1: around the world are coming together to show support for

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Speaker 1: Ukraine as the Russian invasion continues. In New York City,

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Speaker 1: which has the largest Ukrainian population in the US, hundreds

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Speaker 1: of bill gathered at St. George Ukrainian Catholic Church in

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Speaker 1: the East Village last night to sing and pray. I

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Speaker 1: will try home. I will cry when I pray, but

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Speaker 1: not now, because this is my battle. I'm fighting. Everyone

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Speaker 1: is trained right now and soldier, and I'm soldier and

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Speaker 1: sold That's not the place to cry. I'sh Another one

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Speaker 1: of the worshippers at the church was New York Governor

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Speaker 1: Kathy Hokel. The church has become a focal point for

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Speaker 1: the humanitarian effort by raising funds for everything from food

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Speaker 1: and clothing to medical supplies. Supreme Court Dominique Tangi Brown

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Speaker 1: Jackson has begun courting Senators on Capitol Hill making your

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Speaker 1: case for confirmation in private meetings. Senate Majority Leader Chuck

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Speaker 1: Schumer I am just so pleased that the President has

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Speaker 1: nominated someone amazing qualification and breadth of experience. Democrats are

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Speaker 1: working to move our nomination through the Senate within weeks.

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Speaker 1: The American Civil Liberties Union has filed a lawsuit against

430
00:24:55,720 --> 00:25:00,040
Speaker 1: the Texas Department for Family and Protective Services and Governor A.

431
00:25:00,119 --> 00:25:03,679
Speaker 1: Gabbot for implementing a directive to investigate parents that provide

432
00:25:03,760 --> 00:25:07,840
Speaker 1: gender affirming care to transgender children. Meanwhile, a state district

433
00:25:07,920 --> 00:25:11,680
Speaker 1: judge issued a temporary order halting the child abuse investigation

434
00:25:11,760 --> 00:25:14,639
Speaker 1: of the family of a sixteen year old receiving gender

435
00:25:14,680 --> 00:25:19,040
Speaker 1: affirming care. The family's attorney, Shelly Skein. Every major medical

436
00:25:19,119 --> 00:25:25,440
Speaker 1: association says the gender affirming care is medically necessary. Attorney

437
00:25:25,520 --> 00:25:28,720
Speaker 1: Shelly Skein. A Jet Blue pilot was removed from the

438
00:25:28,800 --> 00:25:31,920
Speaker 1: cockpit by police in Buffalo, New York after a t

439
00:25:32,200 --> 00:25:35,680
Speaker 1: s a officer noticed he appeared drunk. He was taken

440
00:25:35,720 --> 00:25:38,360
Speaker 1: into custody after police say he was more than four

441
00:25:38,520 --> 00:25:41,640
Speaker 1: times the legal limit for pilots. A police report says

442
00:25:41,680 --> 00:25:44,240
Speaker 1: the fifty two year old pilot was heard saying he

443
00:25:44,400 --> 00:25:48,359
Speaker 1: consumed ten twenty two ounce Tall Boys and left the

444
00:25:48,400 --> 00:25:52,600
Speaker 1: restaurant around midnight. Blue says he has been relieved of

445
00:25:52,720 --> 00:25:56,680
Speaker 1: his duty. Global news twenty four hours a day on

446
00:25:56,880 --> 00:26:00,359
Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty

447
00:26:00,440 --> 00:26:03,119
Speaker 1: seven hundred journalists and vandalists more than a hundred twenty countries.

448
00:26:03,440 --> 00:26:06,520
Speaker 1: Michael Bart, this is Bloomberg and is too many tall boys.

449
00:26:06,920 --> 00:26:14,040
Speaker 1: Thank you, Michael five on wall Stree. Let's get the

450
00:26:14,040 --> 00:26:16,880
Speaker 1: Bloomberg sports update. Now here's John Stash all right, Nathan.

451
00:26:17,000 --> 00:26:18,880
Speaker 1: Last six seven weeks have been rough for the two

452
00:26:19,000 --> 00:26:21,440
Speaker 1: New York City NBA teams. The Nets led the East

453
00:26:21,520 --> 00:26:24,480
Speaker 1: until Kevin Duran's knee injury. Without him, they lost fifteen

454
00:26:24,600 --> 00:26:28,800
Speaker 1: of eighteen. Good news Durant returns tonight in Brooklyn against

455
00:26:28,840 --> 00:26:31,320
Speaker 1: the East need in Miami heat. Nixon mid January were

456
00:26:31,359 --> 00:26:33,520
Speaker 1: over five hundreds, looking like a playoff team. They've now

457
00:26:33,640 --> 00:26:37,480
Speaker 1: lost sixteen of their last nineteen. In Philadelphia's Sixers took

458
00:26:37,520 --> 00:26:40,680
Speaker 1: the lead third quarter, pulled away on one oh a.

459
00:26:40,840 --> 00:26:43,280
Speaker 1: James Harden twenty six points in New York triple double

460
00:26:43,320 --> 00:26:46,760
Speaker 1: at his home debut in Philly. Seamless adjustment to Harden.

461
00:26:46,800 --> 00:26:48,560
Speaker 1: The new teams very comfortable with a lot of a

462
00:26:48,640 --> 00:26:52,040
Speaker 1: lot of situations where there's basketball artists in life. Um

463
00:26:52,440 --> 00:26:54,119
Speaker 1: I feel like I'm you can put me anywhere in

464
00:26:54,160 --> 00:26:58,720
Speaker 1: the room and in um so here is no different.

465
00:26:59,040 --> 00:27:01,960
Speaker 1: You know. She surveying room, see who's in, you know,

466
00:27:02,080 --> 00:27:05,240
Speaker 1: see what you have and uh, you know, try your bestefit.

467
00:27:05,440 --> 00:27:07,480
Speaker 1: It's not gonna get any easier for the nixt the

468
00:27:07,560 --> 00:27:10,000
Speaker 1: road trip to twties. Tomorrow night in Phoenix, the Sons

469
00:27:10,040 --> 00:27:12,040
Speaker 1: of the best record in the NBA Rangers, with three

470
00:27:12,119 --> 00:27:14,240
Speaker 1: goals in third periods, beat St. Louis at the Garden

471
00:27:14,280 --> 00:27:16,359
Speaker 1: five to three. Chris Crieder. The go ahead goal is

472
00:27:16,440 --> 00:27:19,120
Speaker 1: thirty fifth of the year three assists for Adam Fox.

473
00:27:19,320 --> 00:27:22,639
Speaker 1: He's now got forty six assist Biggy's Tournament is next

474
00:27:22,680 --> 00:27:25,040
Speaker 1: week at the Garden. Last night St. John's beat Xavier

475
00:27:25,440 --> 00:27:28,399
Speaker 1: eighty one sixty six and Seaton Hall down Georgetown seventy

476
00:27:28,440 --> 00:27:31,440
Speaker 1: three sixty eight. Patrick Ewing's Hyat's o n eighteen in

477
00:27:31,480 --> 00:27:33,720
Speaker 1: the Big East. Looks like Seaton Hall will be in

478
00:27:33,840 --> 00:27:35,680
Speaker 1: the n C Double A tournament. Rutgers said to be

479
00:27:35,840 --> 00:27:38,919
Speaker 1: on the bubble. Scarlett Knights helped their cause the sixty

480
00:27:38,960 --> 00:27:41,119
Speaker 1: six sixty three win at Indiana Ron Harpards for the

481
00:27:41,240 --> 00:27:43,399
Speaker 1: nineteen Fordham Back under five hundred of losing a U

482
00:27:43,440 --> 00:27:47,320
Speaker 1: MASK Northeast Conference Tournament quarterfinal wins for Wagner and l

483
00:27:47,400 --> 00:27:50,560
Speaker 1: i U, but St. Francis lost by thirty or seasons

484
00:27:50,600 --> 00:27:53,960
Speaker 1: over Tom stash Ellen Boomberg's forts All right, John, thank you.

485
00:27:54,040 --> 00:27:56,679
Speaker 1: It his six thirty seven on Wall Street Time. Now

486
00:27:56,800 --> 00:27:58,560
Speaker 1: to take a look at stocks, some of the names

487
00:27:58,680 --> 00:28:01,639
Speaker 1: moving in the pre market. Bloomberg Radio on TV. Markets

488
00:28:01,680 --> 00:28:05,840
Speaker 1: correspondent Pretty Gupta is with us again this morning as

489
00:28:05,920 --> 00:28:08,359
Speaker 1: we watched the impact of the war in Ukraine on

490
00:28:08,520 --> 00:28:11,720
Speaker 1: individual stocks. Pretty good morning, Good morning. We have to

491
00:28:11,760 --> 00:28:13,680
Speaker 1: talk about simply the read through. I mean every morning

492
00:28:13,680 --> 00:28:15,399
Speaker 1: I come in here, Nathan, and I come here and

493
00:28:15,440 --> 00:28:17,640
Speaker 1: I say, hey, look at oil. It's so high Brent

494
00:28:17,760 --> 00:28:21,120
Speaker 1: now per barrel. But there is a read through into

495
00:28:21,119 --> 00:28:23,200
Speaker 1: the stock market. We know that this is going into

496
00:28:23,560 --> 00:28:25,320
Speaker 1: a lot of those energy stocks, and those are really

497
00:28:25,320 --> 00:28:27,320
Speaker 1: the ones that have been the outperformers, not just this

498
00:28:27,440 --> 00:28:29,680
Speaker 1: past week, but in the last few weeks as well,

499
00:28:29,800 --> 00:28:32,560
Speaker 1: as they kind of gear up for this geopolitical premium

500
00:28:32,600 --> 00:28:35,359
Speaker 1: baked into oil prices. But underneath the hood, Nathan, it

501
00:28:35,440 --> 00:28:37,639
Speaker 1: gets a little wonky. Stick with me here. Some of

502
00:28:37,720 --> 00:28:40,160
Speaker 1: these oil companies have a lot of exposure to the

503
00:28:40,280 --> 00:28:43,440
Speaker 1: United States, and that's great for people looking to get

504
00:28:43,680 --> 00:28:46,520
Speaker 1: away from some of that Russian read through. So, for example,

505
00:28:46,600 --> 00:28:49,800
Speaker 1: Devon Energy, which has been an outperformer lately. DVN is

506
00:28:49,800 --> 00:28:52,200
Speaker 1: your ticker up one point three percent in the pre market.

507
00:28:52,280 --> 00:28:55,040
Speaker 1: Occidental is another one. Oh x Y is your taker

508
00:28:55,240 --> 00:28:57,240
Speaker 1: up one and a half percent. About eighty percent of

509
00:28:57,280 --> 00:29:00,280
Speaker 1: their revenue is right here in the United States, UM

510
00:29:00,400 --> 00:29:03,880
Speaker 1: another one, slumber j s LB up over one percent,

511
00:29:04,000 --> 00:29:06,800
Speaker 1: Haliburton as well, h A L up five tenths of

512
00:29:06,840 --> 00:29:09,840
Speaker 1: one percent. And then in the mix kind of secretly,

513
00:29:10,040 --> 00:29:12,720
Speaker 1: is Chevron c v X as your taker up nine

514
00:29:12,760 --> 00:29:14,440
Speaker 1: tenths of a percent. And I remember they did just

515
00:29:14,680 --> 00:29:17,360
Speaker 1: increase their guidance for buy back thing. It would go

516
00:29:17,440 --> 00:29:19,920
Speaker 1: from two to five billion dollars in buybacks to five

517
00:29:20,000 --> 00:29:22,240
Speaker 1: to ten billion. Is there range thing that there is

518
00:29:22,360 --> 00:29:24,600
Speaker 1: room for more? But when we're talking about the Russian

519
00:29:24,680 --> 00:29:26,960
Speaker 1: bread through, they are still exposed. Actually, one of the

520
00:29:27,240 --> 00:29:30,080
Speaker 1: companies that has actually bought Russian oil in the past

521
00:29:30,240 --> 00:29:34,720
Speaker 1: year one, they imported four million barrels to California refineries,

522
00:29:34,760 --> 00:29:37,200
Speaker 1: and they're saying that they're still monitoring developments. They have

523
00:29:37,360 --> 00:29:40,720
Speaker 1: not percent pulled out of Russia and their investments there.

524
00:29:40,760 --> 00:29:43,440
Speaker 1: But nevertheless, it's that buy back news that seems to

525
00:29:43,480 --> 00:29:46,960
Speaker 1: be keeping it bid cv X up nine tenths of

526
00:29:47,120 --> 00:29:50,800
Speaker 1: one percent. Nathan, Well, despite our besides the energy companies

527
00:29:50,840 --> 00:29:54,120
Speaker 1: creating we've been talking a lot this morning about Snowflake.

528
00:29:54,200 --> 00:29:58,560
Speaker 1: It is getting hammered after earnings. Hammered absolutely, s n

529
00:29:58,640 --> 00:30:02,000
Speaker 1: o W. That is your acer for essentially the securities

530
00:30:02,040 --> 00:30:04,800
Speaker 1: the software company. However, you want to kind of understand

531
00:30:04,840 --> 00:30:07,600
Speaker 1: what they do. But basically this pre market shares slumping

532
00:30:07,680 --> 00:30:11,560
Speaker 1: twenty two after they projected products sales growth would slow

533
00:30:11,720 --> 00:30:15,480
Speaker 1: from his previous triple digit percentage pace in the fiscal year.

534
00:30:15,560 --> 00:30:18,520
Speaker 1: That being said, analysts are still positive on the software

535
00:30:18,560 --> 00:30:21,080
Speaker 1: form for Morgan Stanley, even saying that the company would

536
00:30:21,120 --> 00:30:23,840
Speaker 1: see some pain in the short term but eventually see

537
00:30:23,920 --> 00:30:26,000
Speaker 1: a longer term gain. And it's not alone when it

538
00:30:26,040 --> 00:30:28,040
Speaker 1: comes to kind of some of the pain that you're

539
00:30:28,040 --> 00:30:30,680
Speaker 1: seeing in the text based intel. For example, i NTC

540
00:30:30,920 --> 00:30:33,520
Speaker 1: down just drive three percent in the pre market after

541
00:30:33,600 --> 00:30:36,360
Speaker 1: getting cut to underweight over at Morgan Stanley. A price

542
00:30:36,400 --> 00:30:40,040
Speaker 1: target there of forty seven dollars is at fifty right now.

543
00:30:40,160 --> 00:30:43,920
Speaker 1: Nathan okay. Bloomberg Radio and TV Markets correspondent Pretty Gupta

544
00:30:44,000 --> 00:30:46,480
Speaker 1: with us this morning. As we take a look at

545
00:30:46,720 --> 00:30:50,640
Speaker 1: the broader market ahead of the Thursday morning open. Futures

546
00:30:50,680 --> 00:30:53,280
Speaker 1: are moving a bit lower. We have SMP futures down

547
00:30:53,600 --> 00:30:56,800
Speaker 1: eight points now down futures down forty two, NASTAC futures

548
00:30:56,840 --> 00:31:00,600
Speaker 1: lower by forty four points. Tan. Your treasury is seven

549
00:31:00,720 --> 00:31:03,600
Speaker 1: thirty seconds now with the yield one point yield on

550
00:31:03,640 --> 00:31:06,360
Speaker 1: the two year one point for nine nime x screwed

551
00:31:06,400 --> 00:31:08,600
Speaker 1: up too, and two thirds percent of two dollars nine

552
00:31:08,920 --> 00:31:11,520
Speaker 1: cents a hundred thirteen dollars fifty six cents of barrel.

553
00:31:11,560 --> 00:31:16,200
Speaker 1: Brent is at one eight. You're listening to Bloomberg Day

554
00:31:16,240 --> 00:31:25,480
Speaker 1: Brain Bloomberg eleven three oh Weather clearing, breezy, low forties today,

555
00:31:25,560 --> 00:31:28,640
Speaker 1: mostly sunny, chillier tomorrow, upper thirties, will be in the

556
00:31:28,720 --> 00:31:32,840
Speaker 1: mid forties, mostly cloudy by Saturday. Right now, it's cloudy

557
00:31:33,000 --> 00:31:38,920
Speaker 1: thirty nine degrees in Central Park. Markets headlines and breaking

558
00:31:39,000 --> 00:31:41,840
Speaker 1: news twenty four hours a day at Bloomberg dot Com,

559
00:31:42,000 --> 00:31:45,520
Speaker 1: the Bloomberg Business Outland at Bloomberg Quick Tape. This is

560
00:31:45,560 --> 00:31:54,480
Speaker 1: a Bloomberg business lash. But I'm Karen Moscow. This update

561
00:31:54,520 --> 00:31:57,480
Speaker 1: brought to you by Interactive Brokers Global Analyst. It helps

562
00:31:57,520 --> 00:32:00,840
Speaker 1: you find new global investment opportunities to diversity your portfolio

563
00:32:00,960 --> 00:32:04,280
Speaker 1: and discover undervalued companies that may have greater growth potential.

564
00:32:04,560 --> 00:32:06,960
Speaker 1: Try I pk R Global Analysts today at i b

565
00:32:07,040 --> 00:32:10,720
Speaker 1: k R dot com slash g A. Futures are lower

566
00:32:10,880 --> 00:32:13,040
Speaker 1: this morning. We get to the first word breaking newsdesk

567
00:32:13,080 --> 00:32:15,640
Speaker 1: for today's morning call, and here's Bill Maloney. Bill, good

568
00:32:15,680 --> 00:32:19,080
Speaker 1: morning and good morning. Can That's right. US futures are

569
00:32:19,120 --> 00:32:20,960
Speaker 1: in the red right now at Death futures down eighty

570
00:32:21,040 --> 00:32:23,160
Speaker 1: two point says to be dropped fourteen, while Nest that

571
00:32:23,240 --> 00:32:26,880
Speaker 1: futures dropped by six five. The US ten year old

572
00:32:26,880 --> 00:32:29,800
Speaker 1: at one five percent. Gold is up nine, up nine.

573
00:32:30,120 --> 00:32:33,200
Speaker 1: Oil is trading higher, hitting the highest level since two

574
00:32:33,280 --> 00:32:36,200
Speaker 1: thousand and eight. Bitcoin is down by one percent in

575
00:32:36,320 --> 00:32:39,400
Speaker 1: Japan rose overnight, while up markets are mostly in the

576
00:32:39,520 --> 00:32:42,360
Speaker 1: red this morning. Back in the US on the economic

577
00:32:42,440 --> 00:32:46,320
Speaker 1: Frinday thirty initial jobas claims at nine services and composite

578
00:32:46,360 --> 00:32:49,720
Speaker 1: pms than at ten o'clock. Factory orders and durable goods

579
00:32:49,880 --> 00:32:53,640
Speaker 1: orders after the belast night snowflake revenue growth outlook disappointed

580
00:32:53,720 --> 00:32:56,800
Speaker 1: shows it out two in the pre market and another news.

581
00:32:56,920 --> 00:32:59,720
Speaker 1: Moodies and Fitch both cut Rush at a junk and

582
00:33:00,040 --> 00:33:03,520
Speaker 1: all Icon cut his stake in Oxeno Petroleum in half.

583
00:33:04,040 --> 00:33:06,840
Speaker 1: Rabbi things up, City Group cut to market perform at KBW,

584
00:33:07,080 --> 00:33:10,440
Speaker 1: and Into was cut to underweight over at Morgan Stanley

585
00:33:11,080 --> 00:33:14,480
Speaker 1: Live from the first breaking newsscombo. Maloney Karen, all right, Bill,

586
00:33:14,520 --> 00:33:16,320
Speaker 1: thank you and to hear live breaking news of her

587
00:33:16,400 --> 00:33:19,080
Speaker 1: Bloomberg type squawk on your terminal s q U a

588
00:33:19,280 --> 00:33:22,040
Speaker 1: w K. That's a Bloomberg business flash. Now here's Michael

589
00:33:22,080 --> 00:33:25,120
Speaker 1: Barrow with more on what's going on around the world. Michael, Karen,

590
00:33:25,160 --> 00:33:27,880
Speaker 1: thank you very much. A Hercules C one thirty transport

591
00:33:27,920 --> 00:33:31,680
Speaker 1: aircraft with about two thousand anti tank missiles for Ukraine

592
00:33:32,000 --> 00:33:35,440
Speaker 1: has taken off from Oslo. The weapons are to help

593
00:33:35,560 --> 00:33:39,800
Speaker 1: Ukrainian forces resist Russia's invasion, which began last week. Meanwhile,

594
00:33:39,880 --> 00:33:43,880
Speaker 1: French customs officials have immobilized a yacht owned by Ross

595
00:33:44,320 --> 00:33:48,000
Speaker 1: chief executive officer Igor Sechion as part of EU sanctions

596
00:33:48,000 --> 00:33:51,960
Speaker 1: against Russia. The House panel investigating the January six riot

597
00:33:52,040 --> 00:33:55,000
Speaker 1: at the US Capital said it's evidence of justest crimes

598
00:33:55,320 --> 00:33:57,840
Speaker 1: may have been committed by former President Trump and his

599
00:33:58,000 --> 00:34:01,000
Speaker 1: associates in the failed effort to turn the outcome of

600
00:34:01,040 --> 00:34:04,960
Speaker 1: the presidential election in the NBA. The next lost in

601
00:34:05,000 --> 00:34:08,239
Speaker 1: the NHL. The Rangers won Global news twenty four hours

602
00:34:08,320 --> 00:34:11,480
Speaker 1: a day on air and on Bloomberg Quicktake, powered by

603
00:34:11,560 --> 00:34:14,440
Speaker 1: more than twenty seven hundred journalists an analysts in more

604
00:34:14,480 --> 00:34:17,680
Speaker 1: than one twenty countries on Michael Barr. This is Bloomberg.

605
00:34:18,160 --> 00:34:24,240
Speaker 1: The following commentary is from Bloomberg Opinion. Speech. I'm Jonathan Bernstein,

606
00:34:24,280 --> 00:34:27,239
Speaker 1: a columnist for Bloomberg Opinion. The State of the Union,

607
00:34:27,480 --> 00:34:31,640
Speaker 1: more than any other presidential address, is a heavily negotiated speech.

608
00:34:32,000 --> 00:34:34,759
Speaker 1: Presidents are always speaking to multiple audiences, but never more

609
00:34:34,880 --> 00:34:38,920
Speaker 1: than on these occasions. World events frequently forced the president

610
00:34:39,000 --> 00:34:42,680
Speaker 1: to address an international audience. Party actors and interest groups

611
00:34:42,719 --> 00:34:45,239
Speaker 1: fight to get mentions of their causes, as do those

612
00:34:45,320 --> 00:34:48,759
Speaker 1: within the administration. Members of Congress want their issues mentioned too.

613
00:34:49,200 --> 00:34:52,280
Speaker 1: Political aids want the president to focus on popular achievements

614
00:34:52,320 --> 00:34:55,160
Speaker 1: and proposals. Then there are the policy areas that pundits

615
00:34:55,160 --> 00:34:57,720
Speaker 1: consider important. Skip any mention of them and the speech

616
00:34:57,800 --> 00:35:00,920
Speaker 1: may get bad reviews. And white has speechwriters want the

617
00:35:00,960 --> 00:35:03,080
Speaker 1: whole thing to sound good, to have a theme, and

618
00:35:03,200 --> 00:35:06,560
Speaker 1: to have memorable lines. The result is always a laundry

619
00:35:06,600 --> 00:35:08,600
Speaker 1: list that hops from one item to the next, rarely

620
00:35:08,680 --> 00:35:12,160
Speaker 1: impressing anyone. Joe Biden's first State of Union Tuesday night

621
00:35:12,320 --> 00:35:16,239
Speaker 1: checked off each of these boxes. It was fine, most

622
00:35:16,280 --> 00:35:18,920
Speaker 1: of it wasn't memorable. It will neither help him nor

623
00:35:19,040 --> 00:35:22,319
Speaker 1: hurt him politically. I'm Jonathan Bernstein from more opinion, Please

624
00:35:22,360 --> 00:35:25,160
Speaker 1: go to Bloomberg dot com, Slash Opinion or OPI n

625
00:35:25,280 --> 00:35:29,480
Speaker 1: go on Bloomberg Terminal. These has been Bloomberg Opinion and

626
00:35:29,520 --> 00:35:32,360
Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this

627
00:35:32,520 --> 00:35:35,040
Speaker 1: time and terminal customers can read more at O p

628
00:35:35,280 --> 00:35:38,399
Speaker 1: I n go. It is six forty on Wall Street.

629
00:35:38,480 --> 00:35:40,759
Speaker 1: We turned to news and science and technology now with

630
00:35:40,800 --> 00:35:43,759
Speaker 1: a Bloomberg and j I T STEM report. It is

631
00:35:43,880 --> 00:35:46,680
Speaker 1: brought to you buy New Jersey Institute of Technology and

632
00:35:46,760 --> 00:35:50,160
Speaker 1: j I T makes infrastructure ready graduates from civil engineers

633
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Speaker 1: to transportations specialists. If it's infrastructure and j I T

634
00:35:53,719 --> 00:35:55,840
Speaker 1: grads are building it. More at n j I T

635
00:35:56,040 --> 00:35:59,160
Speaker 1: dot e DU now here's just making news and science, technology,

636
00:35:59,239 --> 00:36:02,760
Speaker 1: engineering and as I knew study underscores the potential danger

637
00:36:02,840 --> 00:36:06,560
Speaker 1: of lifting pandemic herbs too quickly. Japanese scientists say that

638
00:36:06,680 --> 00:36:10,160
Speaker 1: the omicron strain of the coronavirus is at least more

639
00:36:10,280 --> 00:36:14,520
Speaker 1: lethal than seasonal flu Homcron's fatality rate is still much

640
00:36:14,600 --> 00:36:17,480
Speaker 1: lower than the fatality rates seen earlier in the outbreak.

641
00:36:17,760 --> 00:36:21,800
Speaker 1: Researchers say that could reflect the benefits of vaccination. Bloomberg

642
00:36:21,840 --> 00:36:24,160
Speaker 1: News has learned that the Security Is and Exchange Commission

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00:36:24,200 --> 00:36:27,400
Speaker 1: is scrutinizing creators of non fungible tokens and the crypto

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00:36:27,520 --> 00:36:31,040
Speaker 1: exchanges where they trade. Investigators are trying to determine if

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00:36:31,080 --> 00:36:33,840
Speaker 1: some of the assets run a foul of the agency's rules.

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00:36:34,120 --> 00:36:36,120
Speaker 1: A focus is on whether certain and f t s

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Speaker 1: are being used to raise money like traditional securities. And

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Speaker 1: Apple has announced plans to hold its first product unveiling

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00:36:42,800 --> 00:36:45,000
Speaker 1: of the year. It will take place on March a

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00:36:45,239 --> 00:36:47,959
Speaker 1: Pappy event. The company is expected to announce its first

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00:36:48,120 --> 00:36:52,160
Speaker 1: low cost iPhone se with five G capabilities, I knew

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00:36:52,239 --> 00:36:56,120
Speaker 1: iPad Air and updated Max with Apple made ships and

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Speaker 1: as a Bloomberg n j I T STEM report. Nathan,

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Speaker 1: Thanks Karen. We're from the Bloomberg Attractive Broker Studios where

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Speaker 1: It's six fifty two on Wall Street. Time out to

656
00:37:04,080 --> 00:37:05,759
Speaker 1: check what's going on in d C. Some of the

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00:37:05,800 --> 00:37:08,640
Speaker 1: top stories in our nation's capital include President Biden seeking

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Speaker 1: to press Putin without sparking a wider war in Ukraine,

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00:37:11,760 --> 00:37:14,759
Speaker 1: the January six panel claiming evidence of crimes committed by

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00:37:14,800 --> 00:37:17,880
Speaker 1: former President Donald Trump, and a date set for confirmation

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00:37:17,960 --> 00:37:21,560
Speaker 1: hearings for Supreme Court nominee Kaitanji Brown Jackson. For more,

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00:37:21,600 --> 00:37:25,919
Speaker 1: we're joined by Bloomberg Government congressional reporter Jack Fitzpatrick. So, Jack,

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00:37:25,960 --> 00:37:28,840
Speaker 1: when it comes to the financial war that the US

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00:37:28,920 --> 00:37:31,520
Speaker 1: and Europe are mounting on Russia, it really does seem

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Speaker 1: like the focus is on sanctions and not what you

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00:37:34,640 --> 00:37:38,319
Speaker 1: might call a kinetic response. Yeah, and the President tried

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00:37:38,400 --> 00:37:40,200
Speaker 1: to make that clear in his State of the Union,

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00:37:40,320 --> 00:37:44,040
Speaker 1: saying that the US is not looking to get involved militarily,

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Speaker 1: drawing the line at obviously if if Russia were to

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00:37:47,600 --> 00:37:51,280
Speaker 1: attack a NATO country, then the US would defend NATO.

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Speaker 1: The focus has been sanctions, that, you know, according to

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00:37:55,640 --> 00:37:59,399
Speaker 1: some outset observers, raises some questions about how exactly this ends,

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00:37:59,520 --> 00:38:02,480
Speaker 1: what is the opportunity for Putin to back out of this?

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Speaker 1: But on Capitol Hill. Really the focus is on adding

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00:38:06,760 --> 00:38:10,279
Speaker 1: more sanctions, adding more pressure. We've heard from a number

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00:38:10,320 --> 00:38:13,400
Speaker 1: of Republicans UH, Senator Joe Mansion and I think a

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00:38:13,480 --> 00:38:16,360
Speaker 1: little surprisingly even Ed Markey on the progressive end of

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00:38:16,400 --> 00:38:22,120
Speaker 1: the spectrum, talking about further sanctions limiting us UH purchases

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00:38:22,239 --> 00:38:25,120
Speaker 1: of oil and gas from Russia. So we may see

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00:38:25,560 --> 00:38:28,680
Speaker 1: a real push from Congress UH to try to extend

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00:38:28,840 --> 00:38:31,960
Speaker 1: those sanctions and and focus more on the energy sector.

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00:38:32,040 --> 00:38:34,440
Speaker 1: So we've really seen a push to to ratchet up

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00:38:34,520 --> 00:38:37,600
Speaker 1: the pressure lately in terms of sanctions. Now, we just

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00:38:37,680 --> 00:38:39,640
Speaker 1: heard this morning from the White House of the President

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00:38:39,840 --> 00:38:42,239
Speaker 1: is going to be meeting virtually with fellow leaders of

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00:38:42,280 --> 00:38:45,800
Speaker 1: the Quad countries including Australia and India's will be watching

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00:38:45,880 --> 00:38:50,000
Speaker 1: that as well. Meantime, Jack, we've heard from the January

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00:38:50,080 --> 00:38:54,000
Speaker 1: sixth Committee a pretty significant court filing talking about evidence

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00:38:54,080 --> 00:38:58,080
Speaker 1: of crimes committed by the former president. Yeah. They they

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00:38:58,160 --> 00:39:02,560
Speaker 1: have put in writing in a significant way in their words,

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00:39:02,640 --> 00:39:06,840
Speaker 1: that what they've seen establishes a good faith belief that

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00:39:07,200 --> 00:39:11,680
Speaker 1: former President Donald Trump and others in quote may have

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00:39:11,920 --> 00:39:16,840
Speaker 1: engaged in criminal and or fraudulent acts. UH. The details

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00:39:16,960 --> 00:39:21,480
Speaker 1: center center around John Eastman's emails. Eastman was one of

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00:39:21,560 --> 00:39:25,600
Speaker 1: the people who advised the president on different ways that

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00:39:25,760 --> 00:39:29,440
Speaker 1: he viewed legally, they could slow down or try to

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00:39:29,640 --> 00:39:34,400
Speaker 1: stop the confirmation of the presidential election results. Uh. So

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00:39:35,000 --> 00:39:37,320
Speaker 1: you know, there there's plenty of room for them to

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00:39:37,440 --> 00:39:39,600
Speaker 1: continue to carry this forward. But they have put in

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00:39:39,800 --> 00:39:42,719
Speaker 1: writing in a court filing for a federal court in

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00:39:42,800 --> 00:39:46,440
Speaker 1: California that they do think people at least in Trump's

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00:39:46,560 --> 00:39:51,600
Speaker 1: circle may have committed crimes. And finally, jack as Judge

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00:39:51,680 --> 00:39:54,960
Speaker 1: Brown Jackson, the Supreme Court nominee, makes the rounds on

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00:39:55,160 --> 00:39:57,839
Speaker 1: Capitol Hill. We have a date set for the start

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00:39:57,920 --> 00:40:01,240
Speaker 1: of her confirmation hearing in the Senate. Yes, March twenty

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00:40:01,360 --> 00:40:03,600
Speaker 1: one is going to be the beginning of that process.

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Speaker 1: I would remind you that the Majority Leader, Chuck Schumer,

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00:40:07,200 --> 00:40:10,080
Speaker 1: has said he wants this to move along fairly quickly.

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00:40:10,200 --> 00:40:12,719
Speaker 1: There is a lot that Congress wants to accomplish. Uh

710
00:40:12,840 --> 00:40:15,719
Speaker 1: this spring heading into the summer. So March twenty one

711
00:40:16,000 --> 00:40:18,000
Speaker 1: may really be the starting gun of a bit of

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00:40:18,040 --> 00:40:21,759
Speaker 1: a race to move forward on her confirmation. I would

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00:40:21,800 --> 00:40:25,560
Speaker 1: be particularly interested to see where somebody like Lindsay Graham

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00:40:25,680 --> 00:40:28,120
Speaker 1: comes down on this. He voted for her. Was one

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00:40:28,160 --> 00:40:30,960
Speaker 1: of the Republicans who voted for her for the district

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00:40:31,040 --> 00:40:35,480
Speaker 1: Court the Circuit court confirmation, but he was pushing for

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00:40:35,680 --> 00:40:39,719
Speaker 1: Michelle Childs from South Carolina. So I'm curious where the

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00:40:39,960 --> 00:40:42,560
Speaker 1: moderates come in and where Lindsay Graham, who is a

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00:40:42,640 --> 00:40:47,799
Speaker 1: senior member of the Judiciary Committee, comes down on her nomination. Yeah,

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00:40:47,920 --> 00:40:51,040
Speaker 1: talking about all that's on the congressional plate, of course,

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Speaker 1: they're still working on appropriations bills. The activity that has

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00:40:56,840 --> 00:40:59,759
Speaker 1: to get done before this year is that we'll leave

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Speaker 1: it there for now. Jack, thanks for being with us.

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Speaker 1: Bloomberg Government Congressional reporter Jack Fitzpatrick from our Bloomberg nine

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00:41:06,400 --> 00:41:09,280
Speaker 1: one studios in the nation's capital. Read much more about

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00:41:09,280 --> 00:41:12,640
Speaker 1: what's happening in d C, Bloomberg dot Com or on

727
00:41:12,719 --> 00:41:15,280
Speaker 1: the Bloomberg terminal. Of course, you can listen to Bloomberg

728
00:41:15,360 --> 00:41:19,399
Speaker 1: Radio in Washington Bloomberg and one oh five point seven

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00:41:19,520 --> 00:41:22,359
Speaker 1: F M H D two. Karen, all right, Nathan, thank

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Speaker 1: you At A sixty six on Wall Street. This is

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00:41:24,600 --> 00:41:27,920
Speaker 1: Bloomberg Daybreak and Marches Women's History Month, and every day

732
00:41:27,960 --> 00:41:31,480
Speaker 1: this month we're celebrating significant moments in women's history. Now

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00:41:31,560 --> 00:41:34,200
Speaker 1: with your installment for March third. Here is Bloomberg's or

734
00:41:34,280 --> 00:41:36,560
Speaker 1: need a Young on this stay in Women's History. In

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00:41:36,719 --> 00:41:40,719
Speaker 1: ninet thirteen, the first major parade for women's suffrage took

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00:41:40,760 --> 00:41:44,440
Speaker 1: over Washington, d C. Thousands of women gathered to call

737
00:41:44,560 --> 00:41:48,080
Speaker 1: for a constitutional amendment guaranteeing women the right to vote.

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00:41:48,560 --> 00:41:51,000
Speaker 1: Women had been fighting hard for suffrage for more than

739
00:41:51,160 --> 00:41:54,480
Speaker 1: sixty years by that time, but this marked the first

740
00:41:54,680 --> 00:41:58,320
Speaker 1: major national event for the movement. The huge parade was

741
00:41:58,360 --> 00:42:02,919
Speaker 1: spearheaded by Alice paul Land, the National American Women Suffrage Association.

742
00:42:03,520 --> 00:42:08,160
Speaker 1: Parade organizers maximized attention on the event by strategically hosting

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00:42:08,239 --> 00:42:11,720
Speaker 1: it just one day before the inauguration of President elect

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00:42:11,800 --> 00:42:16,560
Speaker 1: Woodrow Wilson. This tactic worked. That's today in women's history.

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Speaker 1: I'm nia young, Bloomberg Radio A right Native, Thank you.

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00:42:20,640 --> 00:42:23,239
Speaker 1: SMP Future is down about ten points this morning. Down

747
00:42:23,320 --> 00:42:26,399
Speaker 1: Future is down forty five and NASDAG futures are down

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00:42:26,560 --> 00:42:30,719
Speaker 1: fifty and Comex school is woming higher. It's up seven

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Speaker 1: ten percent thirteen dollars ninety cents at nineteen thirty six

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00:42:33,880 --> 00:42:37,600
Speaker 1: twenty unnounced Nimex screwed oil up almost two percent at

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Speaker 1: a hundred twelve dollars seventy two cents a barrel. Bloomber's

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00:42:40,680 --> 00:42:44,880
Speaker 1: surveillance is straight ahead. And for Nathan hagar on Karin Moscow,

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00:42:45,080 --> 00:42:46,960
Speaker 1: and this is Bloomberg