Speaker 1: Live from the Bloomberg Interactive Brooker's Studios. This is Bloomberg
Speaker 1: Daybreak for Thursday, March three. Coming up this hour, Russia
Speaker 1: presses ahead in Ukraine as the war enters its second week.
Speaker 1: Boyle continues, It's March higher, hitting the highest level since
Speaker 1: two thousand eight. J Pali stands pad on plans for
Speaker 1: a rate hike this month and the January six. Panels
Speaker 1: says evidence suggests crimes committed by Donald Trump. New York
Speaker 1: school chancellor says he wants to stop the exodus of students.
Speaker 1: Plus Supreme Court nominee Brown Jackson is making the rounds
Speaker 1: on Capitol Hill. On Michael Blarm, We're ahead of John
Speaker 1: Stay Sharon Sports, the Nick Lawston Philadelphia, The Rangers beat
Speaker 1: the Blues College who wins for St? John's, Seaton Hall
Speaker 1: and Rutger. That's all straight ahead on Bloomberg day Break
Speaker 1: on Bloomberg Elementary on New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco,
Speaker 1: Sirius x M one nine Team and around the world
Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business good morning. I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak,
Speaker 1: brought to you by Interactive Brokers Global Analysts, helps you
Speaker 1: find new global investment opportunities. To diversify your portfolio and
Speaker 1: discover undervalued companies that may have greater growth potential. Try
Speaker 1: I b k R Global Analysts today at I b
Speaker 1: k R dot Com. Slash, g A and US futures
Speaker 1: are lower this morning six o one on Wall Street.
Speaker 1: We checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg, SNP future is down ten points down, futures
Speaker 1: down forty eight, NASTAG futures down fifty eight, and the
Speaker 1: tenure treasury up six thirty seconds. The yeld one point
Speaker 1: eight five percent, yield on the two year one point
Speaker 1: for eight percent. NIMEX screwed oil is up two point
Speaker 1: four percent at a hundred thirteen dollars twenty eight cents
Speaker 1: a barrel. Nathan Karen will have more on the markets
Speaker 1: in a minute, but first, the war in Ukraine is
Speaker 1: entering its second week. Russian forces are pressing ahead with
Speaker 1: their offensive, firing missiles at the capital of Kiev. Moscow's
Speaker 1: also stepped up a campaign to take cities in the south.
Speaker 1: Ukraine's President Vladimir Zolinsky says Russian troops will be met
Speaker 1: with force wherever they go. They will be destroyed. They
Speaker 1: will not have common they will not have food, they
Speaker 1: will not have one quiet moment. The occupied receive only
Speaker 1: one thing for the Ukrainian resistance. Fifth President Vladimir Zelinski
Speaker 1: is telling Russian troops to go home. Ukraine is set
Speaker 1: for a second round of talks with Moscow today. Meantime,
Speaker 1: Nathan the United Nations is ramping up its rhetoric on Russia.
Speaker 1: The U n Secretary General is demanding Moscow removed troops
Speaker 1: from Ukraine, and Bloomberry's Ed Bachelor has the story. An
Speaker 1: overwhelming majority of the General Assembly back Russian condemnation forty
Speaker 1: one four five against thirty five Abstained. Secretary General Antonio
Speaker 1: Guterres says the world demands peace. People in Ukraine desperately
Speaker 1: needed peaces, and people demanded this as representatives from Ukraine
Speaker 1: and Russia are headed to the Belarus Poland border today
Speaker 1: for a second round of talks, and Secretary of State
Speaker 1: Anthony blink And has headed to Europe for talks with NATO.
Speaker 1: Allies in San Francisco. I'm at Bachelor Bloomberg daybreak. Okay
Speaker 1: and thank you. Russian finances are feeling more pain this morning.
Speaker 1: The country's credit rating has been cut to junk by
Speaker 1: both Moodies and Fitch Ratings. Both worn that sanctions can
Speaker 1: undermine Russia's capability and willingness to service debt. Well. Nathan
Speaker 1: Oil continues, It's march higher this morning, hitting levels we
Speaker 1: haven't seen in fourteen years. We get the latest lie
Speaker 1: from Bloomberg's John Tucker, John Karen. Buyers continue to shun
Speaker 1: Russian crude and traders are betting the prices will keep rising.
Speaker 1: Don't expect any help from OPEC plus. After thirteen minute meeting,
Speaker 1: they stuck to just a mild increase in production and
Speaker 1: don't expect help from US shell producers. They say labor
Speaker 1: and material shortages are hurting their production. It's not just oil,
Speaker 1: commodities rising across the board. Bloomberg's gage of raw materials
Speaker 1: is closing in on the biggest weekly gain in sixty years,
Speaker 1: Aluminum hit a record, and wheat prices extended their meteoric rally.
Speaker 1: These commodities are not subject as sanctions, but surging freight
Speaker 1: and insurance costs are keeping buyers away. Live in New York.
Speaker 1: I'm John Tucker, Bloomberg Daybreak. Okay, John, thank you. Despite
Speaker 1: risks from Russia's invasion of Ukraine, J Powell is making
Speaker 1: the fight against inflation his top priority. The FED chair
Speaker 1: testified before ours panel yesterday, saying he supports a rate
Speaker 1: hike later this month. I do think it will be
Speaker 1: appropriate to raise our target ranch for their fellow funds
Speaker 1: rate at the March meeting in a couple of weeks,
Speaker 1: and I'm inclined to propose and support a twenty five
Speaker 1: basis point rate hike. And to the extent inflation comes
Speaker 1: in higher or is more persistently high than that, then
Speaker 1: we would be prepared to move more aggressively by by
Speaker 1: raising the fellow funds rate by more than twenty five
Speaker 1: basis point. FED Chair J. Powell testifies before Congress again today,
Speaker 1: this time to the Senate Banking Committee, Well, Nathan. The
Speaker 1: next major event for J. Powell and the Fed is
Speaker 1: Friday's jobs report of the past year. Rapid wage growth
Speaker 1: has left business as scrambling to keep up, and it
Speaker 1: looks like that trend will continue Bloomber's rind to Young
Speaker 1: joins us now at the details. Good morning Renda, Good
Speaker 1: morning Karen. The February jobs report is expected to show
Speaker 1: average hourly earnings rose a half a percent last month,
Speaker 1: pushing year over year games close to six percent, and
Speaker 1: if you exclude two pandemic distorted prints in the annual
Speaker 1: increase would be the strongest in data going back fifteen years.
Speaker 1: Some slowing is expected, but wage growth is poised to
Speaker 1: remain exceptionally strong this year. High labor costs are yet
Speaker 1: another factor the Fed will have to contend with as
Speaker 1: it works to cool the hottest inflation in a generation.
Speaker 1: In New York, I'm renneda young Bloomberg daybreak, Rina. Thanks.
Speaker 1: Turning to politics now, we have new developments involving the
Speaker 1: January six attack on the Capitol. The Congressional committee investigating
Speaker 1: the incident says it may have evidence former President Trump
Speaker 1: was part of a criminal conspiracy. Amy Morris reports from
Speaker 1: our Bloomberg newsroom in Washington. The committee says Trump advisor
Speaker 1: John Eastman's emails device President Mike Pence's lawyer show evidence
Speaker 1: of obstruction of an official proceeding, a felony that carries
Speaker 1: a maximum of twenty years in prison, and the emails,
Speaker 1: he blames Pence for the riot and says, quote, I
Speaker 1: implore you to consider one more relatively minor violation of
Speaker 1: the Electoral count Act and adjourned for ten days and
Speaker 1: a court filing. The committee says Eastman knew what he
Speaker 1: was proposing would violate the law, but pushed the Vice
Speaker 1: President to do it anyway. In Washington, I'm Amy Morris,
Speaker 1: Bloomberg Daybreak, Amy, thank you. Let's turn back to the
Speaker 1: markets now. As some corporate items of note this morning
Speaker 1: shares a Snowflaker plunging their down more than after the
Speaker 1: software company projected a slowing sales growth. It's expected to
Speaker 1: fall from a previous triple digit percentage pace, and Tesla
Speaker 1: is back in the news. Karen CEO Elon Musk is
Speaker 1: challenging the United Auto Workers union to hold a vote
Speaker 1: at its California factory. Musk says Tesla will do nothing
Speaker 1: to stop union organizers. The challenge comes after President Biden
Speaker 1: again failed to mention Tesla while promoting elect vehicles in
Speaker 1: his State of the Union address. The White House is
Speaker 1: a big supporter of labor unions SSP futures down down
Speaker 1: eight points, STAPH futures down thirty nine, NASTAC futures lower
Speaker 1: by forty nine points. The Tanger Treasury is up five
Speaker 1: thirty seconds. The yield one point eight five. Straight ahead,
Speaker 1: your latest local headlines and a check of sports. This
Speaker 1: is Bloomberg now six o seven on Wall Street. Showers
Speaker 1: forty three degrees in Central Park northbound, Route one and
Speaker 1: nine closed in Elizabeth Details coming up in traffic. First
Speaker 1: Michael Barr with more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: People in New York are coming together to show support
Speaker 1: for Ukraine as the Russian invasion continues. Hundreds of people
Speaker 1: gathered at St. George, Ukrainian Catholic Church in the East
Speaker 1: Village last night to sing and pray. The church has
Speaker 1: become a focal point for the humanitarian effort by raising
Speaker 1: funds for everything from food and clothing to medical supplies.
Speaker 1: Among the worshippers. New York Governor Kathy hokeleba we stand.
Speaker 1: New York City has the large is Ukrainian population in
Speaker 1: the US. President Biden's picked to replace Supreme Court Justice
Speaker 1: Stephen Bryer is making the rounds on Capitol Hill. Judge
Speaker 1: Kaitanji Brown Jackson met with lawmakers her confirmation hearings could
Speaker 1: begin soon. Japanese scientists say the omicron strain of COVID
Speaker 1: nineteen is at least more lethal than seasonal flu. Countries
Speaker 1: around the world have been relaxing mask mandates and testing requirements,
Speaker 1: visibly annoyed Florida government. Around the Santis admonished a group
Speaker 1: of students for wearing face masks at an indoor news
Speaker 1: conference that happened before he spoke about cybersecurity and education
Speaker 1: at the University of South Florida in Tampak and we
Speaker 1: got a spot this code of theater. Want to wear fine,
Speaker 1: but this is this is ridiculous. Some of the students
Speaker 1: took their masks off before Governor de Santists took the podium.
Speaker 1: New Jersey Governor Phil Murphy received some good news about
Speaker 1: the state a credit rating upgrade. The story from Bloomberg's
Speaker 1: Charlie Pellett. Moody's Investors Service raised New Jersey's credit rating,
Speaker 1: giving the state its first upgrade since two thousand five
Speaker 1: after years of pension under funding and benefit increases. An
Speaker 1: upgrade can lead to reduce borrowing costs for states, as
Speaker 1: bond investors are willing to accept lower yields from issuers
Speaker 1: considered less likely to default. In New York, Charlie Pellett
Speaker 1: Bloomberg PayBreak, New York City Schools Chancellor David Banks pledged
Speaker 1: to bring a new normal to the U S's largest
Speaker 1: school system. The outline a plan to reverse an exodus
Speaker 1: of students by improving digital learning, reducing bureaucracy, and expanding
Speaker 1: gifted programs. Global News twenty four hours a day on
Speaker 1: air and on Bloomberg Quick Take, powered by more than
Speaker 1: twenty seven hundred journalist and analysts more than a hundred
Speaker 1: twenty countries. Michael Barr, This is Bloomberg. Thanks Michael. Coming
Speaker 1: up to six ten on Wall Street. Time for the
Speaker 1: Bloomberg Sports Update with John Stenshower. All right, Nathan, familiar
Speaker 1: script for the next good start, not a good finished.
Speaker 1: Another loss, now sixteen losses in the last nineteen games.
Speaker 1: In Philadelphia, Nicks tin trail into the third quarter, but
Speaker 1: the Sixers pulled away one to one oh eight and
Speaker 1: they sweep to home at home. Joe l MB twenty
Speaker 1: seven points. He took thirteen free throws. That's down from
Speaker 1: the twenty seven that he took in Sunday's game at
Speaker 1: the Garden. James Harden and his home debut in Philly
Speaker 1: twenty six points and near triple double. R J. Barrett
Speaker 1: of the Knicks with thirty A, Julius Randon at twenty
Speaker 1: four but Alec Perks and even four together shot three
Speaker 1: of nineteen nets. Home tonight from Miami, Kevin Durant makes
Speaker 1: his return from the knee injury that's kept out for
Speaker 1: more than six weeks. The East leading heat last night
Speaker 1: in Milwaukee. Led by fourteen with six minutes to go,
Speaker 1: the Bucks rallied to win by one. At the Garden,
Speaker 1: Rangers led St. Louis to nothing and then trailed three
Speaker 1: two and the third two off on here Harris Hawk
Speaker 1: towards that girl throw a little too deep and he
Speaker 1: puts it on call stop right off six store. Patrick
Speaker 1: Nevereth from the point bite set it off barbershop. Patrick Nevereth.
Speaker 1: That's tied the game at three. Piana. They called Chris
Speaker 1: Crider would have a power play goals thirty fifth goal
Speaker 1: the season. The Rangers beat the Blues five to three,
Speaker 1: Big forty eight point second half for St. John's The
Speaker 1: Red Storm beat Zavi eight one sixty six. Also the
Speaker 1: Big East, Seaton Hall down Georgetown seventy three to sixty eight.
Speaker 1: The joyas r o N eighteen in the Big East.
Speaker 1: And yet the school says it is committed to its coach,
Speaker 1: who happens to be the greatest player in school history.
Speaker 1: Patrick Ewing Rutgers helped at TENNC double a hope for
Speaker 1: the win at Indiana, the Giants shed some payroll, they
Speaker 1: cut running back DeVante Booker and tight end Kyle Rudeau,
Speaker 1: John Stash Howard, Bloomberg Sports, Nathan John thanks SMP futures
Speaker 1: down down eight and a half point, staff futures down
Speaker 1: forty seven, NASTAC futures lower by forty six points, and
Speaker 1: the ten year treasury is up six thirty seconds, the
Speaker 1: yield one point eight percent. You're listening to Bloomberg Gay
Speaker 1: Brael coming up to six twelve on Wall Street. Bloomberg
Speaker 1: Daybreak is brought to you by Audie. Don't let someone
Speaker 1: else drive off in the Audi model You've always wanted.
Speaker 1: Visit a tri state Audie dealer to get behind the
Speaker 1: wheel of yours. Today, Markets headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business Outland at Bloomberg Quick Tape. This is a Bloomberg
Speaker 1: Business lash. Hi, good morning, I'm Karen. Moscow futures are
Speaker 1: little change to lower this morning. European stocks are lower
Speaker 1: as the war in Ukraine enters its second week, and
Speaker 1: investors way the impact of surging commodity prices on inflation
Speaker 1: and economic growth. Check the markets every fifteen minutes throughout
Speaker 1: the trading day. On Bloomberg s and P futures. They're
Speaker 1: down about four points right now. Dow futures are little
Speaker 1: change now today. Future is down thirty six. The decks
Speaker 1: in Germany is down eight tenths of upper cent ten.
Speaker 1: Your treasury up six thirty seconds. He had one point
Speaker 1: eight five percent. The yield on the two year one
Speaker 1: point for nine percent. Nine neck Screwed oil is up
Speaker 1: two point seven percent, up two dollars ninety eight cents
Speaker 1: at a hundred thirteen dollars fifty five cents of barrel.
Speaker 1: Comic School is up seven tenths per cent, or fourteen
Speaker 1: dollars at nineteen thirty six thirty an ounce. The Euro
Speaker 1: one point one zero eight zero against the dollar. British
Speaker 1: found one point three three seven five, the yen is
Speaker 1: at one fifteen point seven five and Bitcoin this morning
Speaker 1: moving lower down more than when a quarter percent at
Speaker 1: forty three thousand, five hundred dollars. Today we do get
Speaker 1: the weekly report on initial jobless claims at an eight
Speaker 1: thirty Wall Street time at tennis factory orders and durable
Speaker 1: goods orders, as well as a look at service industries.
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barrow with
Speaker 1: more on what's going on around the world. Uncle Clarin,
Speaker 1: thank you very much. The UN Refugee Agency says one
Speaker 1: million people have fled Ukraine since Russian invaded the country
Speaker 1: a week ago. Meanwhile, Russia fired missiles at Key Eve
Speaker 1: overnight and stepped up their campaign to take cities in
Speaker 1: the coastal south in the reversal. Russian and Belarusian athletes
Speaker 1: have been banned from the Paralympics for their country's roles
Speaker 1: in the war in Ukraine. The International Paralympic Committee announced
Speaker 1: the about face less than twenty four hours after saying
Speaker 1: it would allow Russian and bellersi and athletes to compete
Speaker 1: when the game's open tomorrow in the NBA, the Knicks
Speaker 1: lost in the NHL, The Rangers won. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven under journalists and analysts
Speaker 1: in more than one twenty countries. Michael barn This is Bloomberg.
Speaker 1: This is the Big Take, the best of Bloomberg's in depth,
Speaker 1: original reporting from around the globe. We're running on a
Speaker 1: financial system that's running on old technology. We're seeing host
Speaker 1: places which fresh recortize what unfolds in mid terms. We
Speaker 1: will no doubt see again in the next presidential election.
Speaker 1: The Big Take on Bloomberg Radio coming up to six
Speaker 1: Street Line from the Bloomberg Interactive Broker Studios. This is
Speaker 1: Bloomberg Daybreak, and our big take this morning is on
Speaker 1: the financial war against Russia. The US and its allies
Speaker 1: are going after the country's wealthiest businessmen with punishing sanctions
Speaker 1: over the invasion of Ukraine. Could it spell the end
Speaker 1: of Vladimir Putin's decades in power, the end of the
Speaker 1: oligarch era in Russia? Here with more on the Big
Speaker 1: Take is the reporter who wrote it Bloomberg. Stephanie Baker
Speaker 1: is with us this morning, Stephanie, good to have you
Speaker 1: with us. We heard the President in the State of
Speaker 1: the Union with a big applause line saying they're going
Speaker 1: after the luxury apartments, the yachts of the oligarchs, and
Speaker 1: just this morning France said that it sees the yacht
Speaker 1: owned by Rosneft CEO igor Secheon isn't having an impact,
Speaker 1: it is UM and you know, time will tell if
Speaker 1: they really follow through on some of this big talk
Speaker 1: and sees more assets. But as you said, UM, the
Speaker 1: French have seized eager Sechon Uh. This the the head
Speaker 1: of Rosneft his yacht UM. And I think this is
Speaker 1: just the beginning UH. And this will inflict pain uh
Speaker 1: and have a huge impact on you know, wealthy Russians
Speaker 1: who have gotten used to UM, you know, keeping their yachts,
Speaker 1: having their mansions in the South of France, their London
Speaker 1: Mayfair town houses and their New York pent houses. UM.
Speaker 1: I think it will have an effect, and it already
Speaker 1: is as we've seen from UM, even wealthy Russians who
Speaker 1: have not been sanctioned moving to dump their assets, like
Speaker 1: Roman Abramovich with Chelsea putting it up for sale as
Speaker 1: he did yesterday you mentioned the lineup of French yachts
Speaker 1: along the Riviera owned by Russians. It sort of speaks
Speaker 1: to the entrenchment of Russian money in the European economy.
Speaker 1: Has that been what's kind of held the US and
Speaker 1: the European Union back in the past when it comes
Speaker 1: to punishing Russia over some of its many UH infractions
Speaker 1: in the past, like poisoning opponents of Vladimir Putin annexing Crimea.
Speaker 1: You know, sure there there there there were plenty of
Speaker 1: warning signs and alarm bells going off, you know, from
Speaker 1: the poisoning of Alexander Litvinenko to the poisoning of Sergey
Speaker 1: screep Paul in the annexation of Crimea. And in each
Speaker 1: case there were actions taken that in retrospect look pretty
Speaker 1: feeble compared to what we're seeing now. UH. You know,
Speaker 1: this time, this is an unprecedented coordinated round of sanctions.
Speaker 1: Some you know, the EU has moved much more aggressively
Speaker 1: than say the UK. UM. The US has talked about
Speaker 1: UM further UH targeting of individuals UM so that the
Speaker 1: idea behind it is to starve UH Putin's regime from
Speaker 1: the funds to finance this war, but short of an
Speaker 1: embargo on Russian oil and gas, it will it will
Speaker 1: have an effect, but a limited effect. That he still
Speaker 1: has a means of financing this war through um oil
Speaker 1: and gas sales to the West. There has been some
Speaker 1: talk lately about the idea of that business leaders in
Speaker 1: Russia are there because Putin has put them there. In
Speaker 1: terms of the sanctions we're seeing so far against oligarchs,
Speaker 1: how much impact how much influence do these billionaires really
Speaker 1: have on Putin as far as we can tell, Well,
Speaker 1: you know, in the ninety nineties, UM, the oligarchs really
Speaker 1: did control the Kremlin, and when Putin came to power,
Speaker 1: he kind of turned it upside down and uh, you
Speaker 1: know changed the game and put and in some respects
Speaker 1: he um demanded fealty and loyalty from those oligarchs, and
Speaker 1: if they did not comply, he hit back. So I
Speaker 1: think the balance of power had has indeed changed. That
Speaker 1: does not mean that sanctioning the oligarchs will not have
Speaker 1: an effect, because the amount of losses from these sanctions
Speaker 1: is just staggering. Um. The country and most of the
Speaker 1: big businesses have been bankrupt as a result of these
Speaker 1: and you know this will take time to filter through. Um,
Speaker 1: but indeed, having the entire elite class lose so much
Speaker 1: wealth overnight is bound to have an impact on Putin.
Speaker 1: How this all plays out is too difficult to tell
Speaker 1: right now. Um, but indeed I think it The idea
Speaker 1: is to isolate and starve him of funds to make
Speaker 1: it more costly for him to wage this war. Bloomberg
Speaker 1: Stephanie Baker with the Big Take this morning on the
Speaker 1: potential end of the Oligarch era in Russia. You can
Speaker 1: read much more Bloomberg dot Com, Slash Big Take or
Speaker 1: and I Big Take go on the Bloomberg terminal. Future
Speaker 1: is moving lower. Stay with us. You're listening to Bloomberg
Speaker 1: day Break Bloomberg eleven three oh weather rain ending this morning, clearing, breezy,
Speaker 1: low forties. Today, will be in the upper thirties, mostly sunny,
Speaker 1: Tomorrow mostly cloudy mid forties by Saturday. Right now forty
Speaker 1: and Central Park broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York. Bloomberg E Living freed on to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg sixt to the country, Sirius XM
Speaker 1: to the one nine team, and around the globe, the
Speaker 1: Bloomberg Business APT and Bloomberg Radio dot com. This is
Speaker 1: Bloomberg Daybreak six thirty on Wall Street. Good morning, I'm
Speaker 1: Nathan Hagar and I'm Faren Mosta. We're about three hours
Speaker 1: away from the open of US trading. It's time for
Speaker 1: the five things you need to know to start your day.
Speaker 1: Bronti you buy interactive brokers trade crypto for less coin
Speaker 1: with commissions just twelve to eighteen basis points and no
Speaker 1: hidden spreads or markups. Learn more at ib k R
Speaker 1: dot com slash cryptow First, the war in Ukraine is
Speaker 1: entering a second week. Russian forces are pressing ahead, firing
Speaker 1: missiles at the capital city of Kiev. They're also stepping
Speaker 1: up campaigns it takes cities in the south. Ukraine's President
Speaker 1: Vladimir z Lenski says Russian troops are being met with force.
Speaker 1: I don't see our army is doing everything to fully
Speaker 1: break the enemy. Nearly nine thousand Russians have been killed
Speaker 1: in one week. President vladimir's Lenski is telling Russian troops
Speaker 1: to go home and Karen, we're seeing this war continue
Speaker 1: to have a massive impact on commodities. Let's get the
Speaker 1: latest on that line from Bloomberg's John Tucker. John Nathan
Speaker 1: Bloomberg's gage of raw materials is closing in on the
Speaker 1: biggest weekly game in sixty years, as banks, importers, and
Speaker 1: shippers all steer clear of Russian exports. Frank cruzz Sword
Speaker 1: near one dollars of barrel illuminum hit a record at
Speaker 1: wheat rallied at the highest level since two thousand and eight.
Speaker 1: The decision by OPEC plus to leave out plans of
Speaker 1: their output plans on change adds to the risk that
Speaker 1: inflation will slow the global economy. Even before the invasion,
Speaker 1: US retail gasoline was at its highest level since two
Speaker 1: thousand fourteen. Live in New York. I'm John Tucker, Bloomberg
Speaker 1: Day break. All right, John, thank you for speaking of inflation.
Speaker 1: J Powell addresses that topic today and another round of
Speaker 1: congressional testimony. The fat share is making the fight against
Speaker 1: prices his top priority, saying he supports a rate high
Speaker 1: later this month. Well next to the Fedcaren is Tomorrow's
Speaker 1: jobs report. Rapid wage growth has left businesses scrambling to
Speaker 1: keep up, and it looks like that trend will continue.
Speaker 1: Bloomberg's you need a young joins us with the details
Speaker 1: on that. Nina, Good morning. The February jobs report is
Speaker 1: expected to show average hourly earnings rose a half a
Speaker 1: percent last month, pushing year over year gains close to
Speaker 1: six percent, and if you exclude two pandemic distorted prints
Speaker 1: in the annual increase would be the strongest in data
Speaker 1: going back fifteen years. Some slowing is expected, but wage
Speaker 1: growth is poised to remain exceptionally strong this year. In
Speaker 1: New York, I'm we need a young Bloomberg debris all right,
Speaker 1: reay to thank you. And in politics this morning, the
Speaker 1: January six Congressional panel says evidence suggests crimes were committed
Speaker 1: by former President Trump. The panel says emails from Trump
Speaker 1: advisor John Eastman may contain evidence of obstruction of an
Speaker 1: official proceeding. Eastman is sued to block release of the emails.
Speaker 1: And that's the five things you need to notice start
Speaker 1: your day, Brought to you by Interactive Brokers, straight Ahead,
Speaker 1: your latest local headlines, plus a check of sports. And
Speaker 1: this is Bloomberg. Karen Thanks sixty three on Wall Street
Speaker 1: thirty nine degrees in Central Park still got problems on
Speaker 1: northbound Route one and nine and Elizabeth Michael bars here
Speaker 1: with more on what's going on in New York and
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. People
Speaker 1: around the world are coming together to show support for
Speaker 1: Ukraine as the Russian invasion continues. In New York City,
Speaker 1: which has the largest Ukrainian population in the US, hundreds
Speaker 1: of bill gathered at St. George Ukrainian Catholic Church in
Speaker 1: the East Village last night to sing and pray. I
Speaker 1: will try home. I will cry when I pray, but
Speaker 1: not now, because this is my battle. I'm fighting. Everyone
Speaker 1: is trained right now and soldier, and I'm soldier and
Speaker 1: sold That's not the place to cry. I'sh Another one
Speaker 1: of the worshippers at the church was New York Governor
Speaker 1: Kathy Hokel. The church has become a focal point for
Speaker 1: the humanitarian effort by raising funds for everything from food
Speaker 1: and clothing to medical supplies. Supreme Court Dominique Tangi Brown
Speaker 1: Jackson has begun courting Senators on Capitol Hill making your
Speaker 1: case for confirmation in private meetings. Senate Majority Leader Chuck
Speaker 1: Schumer I am just so pleased that the President has
Speaker 1: nominated someone amazing qualification and breadth of experience. Democrats are
Speaker 1: working to move our nomination through the Senate within weeks.
Speaker 1: The American Civil Liberties Union has filed a lawsuit against
Speaker 1: the Texas Department for Family and Protective Services and Governor A.
Speaker 1: Gabbot for implementing a directive to investigate parents that provide
Speaker 1: gender affirming care to transgender children. Meanwhile, a state district
Speaker 1: judge issued a temporary order halting the child abuse investigation
Speaker 1: of the family of a sixteen year old receiving gender
Speaker 1: affirming care. The family's attorney, Shelly Skein. Every major medical
Speaker 1: association says the gender affirming care is medically necessary. Attorney
Speaker 1: Shelly Skein. A Jet Blue pilot was removed from the
Speaker 1: cockpit by police in Buffalo, New York after a t
Speaker 1: s a officer noticed he appeared drunk. He was taken
Speaker 1: into custody after police say he was more than four
Speaker 1: times the legal limit for pilots. A police report says
Speaker 1: the fifty two year old pilot was heard saying he
Speaker 1: consumed ten twenty two ounce Tall Boys and left the
Speaker 1: restaurant around midnight. Blue says he has been relieved of
Speaker 1: his duty. Global news twenty four hours a day on
Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty
Speaker 1: seven hundred journalists and vandalists more than a hundred twenty countries.
Speaker 1: Michael Bart, this is Bloomberg and is too many tall boys.
Speaker 1: Thank you, Michael five on wall Stree. Let's get the
Speaker 1: Bloomberg sports update. Now here's John Stash all right, Nathan.
Speaker 1: Last six seven weeks have been rough for the two
Speaker 1: New York City NBA teams. The Nets led the East
Speaker 1: until Kevin Duran's knee injury. Without him, they lost fifteen
Speaker 1: of eighteen. Good news Durant returns tonight in Brooklyn against
Speaker 1: the East need in Miami heat. Nixon mid January were
Speaker 1: over five hundreds, looking like a playoff team. They've now
Speaker 1: lost sixteen of their last nineteen. In Philadelphia's Sixers took
Speaker 1: the lead third quarter, pulled away on one oh a.
Speaker 1: James Harden twenty six points in New York triple double
Speaker 1: at his home debut in Philly. Seamless adjustment to Harden.
Speaker 1: The new teams very comfortable with a lot of a
Speaker 1: lot of situations where there's basketball artists in life. Um
Speaker 1: I feel like I'm you can put me anywhere in
Speaker 1: the room and in um so here is no different.
Speaker 1: You know. She surveying room, see who's in, you know,
Speaker 1: see what you have and uh, you know, try your bestefit.
Speaker 1: It's not gonna get any easier for the nixt the
Speaker 1: road trip to twties. Tomorrow night in Phoenix, the Sons
Speaker 1: of the best record in the NBA Rangers, with three
Speaker 1: goals in third periods, beat St. Louis at the Garden
Speaker 1: five to three. Chris Crieder. The go ahead goal is
Speaker 1: thirty fifth of the year three assists for Adam Fox.
Speaker 1: He's now got forty six assist Biggy's Tournament is next
Speaker 1: week at the Garden. Last night St. John's beat Xavier
Speaker 1: eighty one sixty six and Seaton Hall down Georgetown seventy
Speaker 1: three sixty eight. Patrick Ewing's Hyat's o n eighteen in
Speaker 1: the Big East. Looks like Seaton Hall will be in
Speaker 1: the n C Double A tournament. Rutgers said to be
Speaker 1: on the bubble. Scarlett Knights helped their cause the sixty
Speaker 1: six sixty three win at Indiana Ron Harpards for the
Speaker 1: nineteen Fordham Back under five hundred of losing a U
Speaker 1: MASK Northeast Conference Tournament quarterfinal wins for Wagner and l
Speaker 1: i U, but St. Francis lost by thirty or seasons
Speaker 1: over Tom stash Ellen Boomberg's forts All right, John, thank you.
Speaker 1: It his six thirty seven on Wall Street Time. Now
Speaker 1: to take a look at stocks, some of the names
Speaker 1: moving in the pre market. Bloomberg Radio on TV. Markets
Speaker 1: correspondent Pretty Gupta is with us again this morning as
Speaker 1: we watched the impact of the war in Ukraine on
Speaker 1: individual stocks. Pretty good morning, Good morning. We have to
Speaker 1: talk about simply the read through. I mean every morning
Speaker 1: I come in here, Nathan, and I come here and
Speaker 1: I say, hey, look at oil. It's so high Brent
Speaker 1: now per barrel. But there is a read through into
Speaker 1: the stock market. We know that this is going into
Speaker 1: a lot of those energy stocks, and those are really
Speaker 1: the ones that have been the outperformers, not just this
Speaker 1: past week, but in the last few weeks as well,
Speaker 1: as they kind of gear up for this geopolitical premium
Speaker 1: baked into oil prices. But underneath the hood, Nathan, it
Speaker 1: gets a little wonky. Stick with me here. Some of
Speaker 1: these oil companies have a lot of exposure to the
Speaker 1: United States, and that's great for people looking to get
Speaker 1: away from some of that Russian read through. So, for example,
Speaker 1: Devon Energy, which has been an outperformer lately. DVN is
Speaker 1: your ticker up one point three percent in the pre market.
Speaker 1: Occidental is another one. Oh x Y is your taker
Speaker 1: up one and a half percent. About eighty percent of
Speaker 1: their revenue is right here in the United States, UM
Speaker 1: another one, slumber j s LB up over one percent,
Speaker 1: Haliburton as well, h A L up five tenths of
Speaker 1: one percent. And then in the mix kind of secretly,
Speaker 1: is Chevron c v X as your taker up nine
Speaker 1: tenths of a percent. And I remember they did just
Speaker 1: increase their guidance for buy back thing. It would go
Speaker 1: from two to five billion dollars in buybacks to five
Speaker 1: to ten billion. Is there range thing that there is
Speaker 1: room for more? But when we're talking about the Russian
Speaker 1: bread through, they are still exposed. Actually, one of the
Speaker 1: companies that has actually bought Russian oil in the past
Speaker 1: year one, they imported four million barrels to California refineries,
Speaker 1: and they're saying that they're still monitoring developments. They have
Speaker 1: not percent pulled out of Russia and their investments there.
Speaker 1: But nevertheless, it's that buy back news that seems to
Speaker 1: be keeping it bid cv X up nine tenths of
Speaker 1: one percent. Nathan, Well, despite our besides the energy companies
Speaker 1: creating we've been talking a lot this morning about Snowflake.
Speaker 1: It is getting hammered after earnings. Hammered absolutely, s n
Speaker 1: o W. That is your acer for essentially the securities
Speaker 1: the software company. However, you want to kind of understand
Speaker 1: what they do. But basically this pre market shares slumping
Speaker 1: twenty two after they projected products sales growth would slow
Speaker 1: from his previous triple digit percentage pace in the fiscal year.
Speaker 1: That being said, analysts are still positive on the software
Speaker 1: form for Morgan Stanley, even saying that the company would
Speaker 1: see some pain in the short term but eventually see
Speaker 1: a longer term gain. And it's not alone when it
Speaker 1: comes to kind of some of the pain that you're
Speaker 1: seeing in the text based intel. For example, i NTC
Speaker 1: down just drive three percent in the pre market after
Speaker 1: getting cut to underweight over at Morgan Stanley. A price
Speaker 1: target there of forty seven dollars is at fifty right now.
Speaker 1: Nathan okay. Bloomberg Radio and TV Markets correspondent Pretty Gupta
Speaker 1: with us this morning. As we take a look at
Speaker 1: the broader market ahead of the Thursday morning open. Futures
Speaker 1: are moving a bit lower. We have SMP futures down
Speaker 1: eight points now down futures down forty two, NASTAC futures
Speaker 1: lower by forty four points. Tan. Your treasury is seven
Speaker 1: thirty seconds now with the yield one point yield on
Speaker 1: the two year one point for nine nime x screwed
Speaker 1: up too, and two thirds percent of two dollars nine
Speaker 1: cents a hundred thirteen dollars fifty six cents of barrel.
Speaker 1: Brent is at one eight. You're listening to Bloomberg Day
Speaker 1: Brain Bloomberg eleven three oh Weather clearing, breezy, low forties today,
Speaker 1: mostly sunny, chillier tomorrow, upper thirties, will be in the
Speaker 1: mid forties, mostly cloudy by Saturday. Right now, it's cloudy
Speaker 1: thirty nine degrees in Central Park. Markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business Outland at Bloomberg Quick Tape. This is
Speaker 1: a Bloomberg business lash. But I'm Karen Moscow. This update
Speaker 1: brought to you by Interactive Brokers Global Analyst. It helps
Speaker 1: you find new global investment opportunities to diversity your portfolio
Speaker 1: and discover undervalued companies that may have greater growth potential.
Speaker 1: Try I pk R Global Analysts today at i b
Speaker 1: k R dot com slash g A. Futures are lower
Speaker 1: this morning. We get to the first word breaking newsdesk
Speaker 1: for today's morning call, and here's Bill Maloney. Bill, good
Speaker 1: morning and good morning. Can That's right. US futures are
Speaker 1: in the red right now at Death futures down eighty
Speaker 1: two point says to be dropped fourteen, while Nest that
Speaker 1: futures dropped by six five. The US ten year old
Speaker 1: at one five percent. Gold is up nine, up nine.
Speaker 1: Oil is trading higher, hitting the highest level since two
Speaker 1: thousand and eight. Bitcoin is down by one percent in
Speaker 1: Japan rose overnight, while up markets are mostly in the
Speaker 1: red this morning. Back in the US on the economic
Speaker 1: Frinday thirty initial jobas claims at nine services and composite
Speaker 1: pms than at ten o'clock. Factory orders and durable goods
Speaker 1: orders after the belast night snowflake revenue growth outlook disappointed
Speaker 1: shows it out two in the pre market and another news.
Speaker 1: Moodies and Fitch both cut Rush at a junk and
Speaker 1: all Icon cut his stake in Oxeno Petroleum in half.
Speaker 1: Rabbi things up, City Group cut to market perform at KBW,
Speaker 1: and Into was cut to underweight over at Morgan Stanley
Speaker 1: Live from the first breaking newsscombo. Maloney Karen, all right, Bill,
Speaker 1: thank you and to hear live breaking news of her
Speaker 1: Bloomberg type squawk on your terminal s q U a
Speaker 1: w K. That's a Bloomberg business flash. Now here's Michael
Speaker 1: Barrow with more on what's going on around the world. Michael, Karen,
Speaker 1: thank you very much. A Hercules C one thirty transport
Speaker 1: aircraft with about two thousand anti tank missiles for Ukraine
Speaker 1: has taken off from Oslo. The weapons are to help
Speaker 1: Ukrainian forces resist Russia's invasion, which began last week. Meanwhile,
Speaker 1: French customs officials have immobilized a yacht owned by Ross
Speaker 1: chief executive officer Igor Sechion as part of EU sanctions
Speaker 1: against Russia. The House panel investigating the January six riot
Speaker 1: at the US Capital said it's evidence of justest crimes
Speaker 1: may have been committed by former President Trump and his
Speaker 1: associates in the failed effort to turn the outcome of
Speaker 1: the presidential election in the NBA. The next lost in
Speaker 1: the NHL. The Rangers won Global news twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists an analysts in more
Speaker 1: than one twenty countries on Michael Barr. This is Bloomberg.
Speaker 1: The following commentary is from Bloomberg Opinion. Speech. I'm Jonathan Bernstein,
Speaker 1: a columnist for Bloomberg Opinion. The State of the Union,
Speaker 1: more than any other presidential address, is a heavily negotiated speech.
Speaker 1: Presidents are always speaking to multiple audiences, but never more
Speaker 1: than on these occasions. World events frequently forced the president
Speaker 1: to address an international audience. Party actors and interest groups
Speaker 1: fight to get mentions of their causes, as do those
Speaker 1: within the administration. Members of Congress want their issues mentioned too.
Speaker 1: Political aids want the president to focus on popular achievements
Speaker 1: and proposals. Then there are the policy areas that pundits
Speaker 1: consider important. Skip any mention of them and the speech
Speaker 1: may get bad reviews. And white has speechwriters want the
Speaker 1: whole thing to sound good, to have a theme, and
Speaker 1: to have memorable lines. The result is always a laundry
Speaker 1: list that hops from one item to the next, rarely
Speaker 1: impressing anyone. Joe Biden's first State of Union Tuesday night
Speaker 1: checked off each of these boxes. It was fine, most
Speaker 1: of it wasn't memorable. It will neither help him nor
Speaker 1: hurt him politically. I'm Jonathan Bernstein from more opinion, Please
Speaker 1: go to Bloomberg dot com, Slash Opinion or OPI n
Speaker 1: go on Bloomberg Terminal. These has been Bloomberg Opinion and
Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this
Speaker 1: time and terminal customers can read more at O p
Speaker 1: I n go. It is six forty on Wall Street.
Speaker 1: We turned to news and science and technology now with
Speaker 1: a Bloomberg and j I T STEM report. It is
Speaker 1: brought to you buy New Jersey Institute of Technology and
Speaker 1: j I T makes infrastructure ready graduates from civil engineers
Speaker 1: to transportations specialists. If it's infrastructure and j I T
Speaker 1: grads are building it. More at n j I T
Speaker 1: dot e DU now here's just making news and science, technology,
Speaker 1: engineering and as I knew study underscores the potential danger
Speaker 1: of lifting pandemic herbs too quickly. Japanese scientists say that
Speaker 1: the omicron strain of the coronavirus is at least more
Speaker 1: lethal than seasonal flu Homcron's fatality rate is still much
Speaker 1: lower than the fatality rates seen earlier in the outbreak.
Speaker 1: Researchers say that could reflect the benefits of vaccination. Bloomberg
Speaker 1: News has learned that the Security Is and Exchange Commission
Speaker 1: is scrutinizing creators of non fungible tokens and the crypto
Speaker 1: exchanges where they trade. Investigators are trying to determine if
Speaker 1: some of the assets run a foul of the agency's rules.
Speaker 1: A focus is on whether certain and f t s
Speaker 1: are being used to raise money like traditional securities. And
Speaker 1: Apple has announced plans to hold its first product unveiling
Speaker 1: of the year. It will take place on March a
Speaker 1: Pappy event. The company is expected to announce its first
Speaker 1: low cost iPhone se with five G capabilities, I knew
Speaker 1: iPad Air and updated Max with Apple made ships and
Speaker 1: as a Bloomberg n j I T STEM report. Nathan,
Speaker 1: Thanks Karen. We're from the Bloomberg Attractive Broker Studios where
Speaker 1: It's six fifty two on Wall Street. Time out to
Speaker 1: check what's going on in d C. Some of the
Speaker 1: top stories in our nation's capital include President Biden seeking
Speaker 1: to press Putin without sparking a wider war in Ukraine,
Speaker 1: the January six panel claiming evidence of crimes committed by
Speaker 1: former President Donald Trump, and a date set for confirmation
Speaker 1: hearings for Supreme Court nominee Kaitanji Brown Jackson. For more,
Speaker 1: we're joined by Bloomberg Government congressional reporter Jack Fitzpatrick. So, Jack,
Speaker 1: when it comes to the financial war that the US
Speaker 1: and Europe are mounting on Russia, it really does seem
Speaker 1: like the focus is on sanctions and not what you
Speaker 1: might call a kinetic response. Yeah, and the President tried
Speaker 1: to make that clear in his State of the Union,
Speaker 1: saying that the US is not looking to get involved militarily,
Speaker 1: drawing the line at obviously if if Russia were to
Speaker 1: attack a NATO country, then the US would defend NATO.
Speaker 1: The focus has been sanctions, that, you know, according to
Speaker 1: some outset observers, raises some questions about how exactly this ends,
Speaker 1: what is the opportunity for Putin to back out of this?
Speaker 1: But on Capitol Hill. Really the focus is on adding
Speaker 1: more sanctions, adding more pressure. We've heard from a number
Speaker 1: of Republicans UH, Senator Joe Mansion and I think a
Speaker 1: little surprisingly even Ed Markey on the progressive end of
Speaker 1: the spectrum, talking about further sanctions limiting us UH purchases
Speaker 1: of oil and gas from Russia. So we may see
Speaker 1: a real push from Congress UH to try to extend
Speaker 1: those sanctions and and focus more on the energy sector.
Speaker 1: So we've really seen a push to to ratchet up
Speaker 1: the pressure lately in terms of sanctions. Now, we just
Speaker 1: heard this morning from the White House of the President
Speaker 1: is going to be meeting virtually with fellow leaders of
Speaker 1: the Quad countries including Australia and India's will be watching
Speaker 1: that as well. Meantime, Jack, we've heard from the January
Speaker 1: sixth Committee a pretty significant court filing talking about evidence
Speaker 1: of crimes committed by the former president. Yeah. They they
Speaker 1: have put in writing in a significant way in their words,
Speaker 1: that what they've seen establishes a good faith belief that
Speaker 1: former President Donald Trump and others in quote may have
Speaker 1: engaged in criminal and or fraudulent acts. UH. The details
Speaker 1: center center around John Eastman's emails. Eastman was one of
Speaker 1: the people who advised the president on different ways that
Speaker 1: he viewed legally, they could slow down or try to
Speaker 1: stop the confirmation of the presidential election results. Uh. So
Speaker 1: you know, there there's plenty of room for them to
Speaker 1: continue to carry this forward. But they have put in
Speaker 1: writing in a court filing for a federal court in
Speaker 1: California that they do think people at least in Trump's
Speaker 1: circle may have committed crimes. And finally, jack as Judge
Speaker 1: Brown Jackson, the Supreme Court nominee, makes the rounds on
Speaker 1: Capitol Hill. We have a date set for the start
Speaker 1: of her confirmation hearing in the Senate. Yes, March twenty
Speaker 1: one is going to be the beginning of that process.
Speaker 1: I would remind you that the Majority Leader, Chuck Schumer,
Speaker 1: has said he wants this to move along fairly quickly.
Speaker 1: There is a lot that Congress wants to accomplish. Uh
Speaker 1: this spring heading into the summer. So March twenty one
Speaker 1: may really be the starting gun of a bit of
Speaker 1: a race to move forward on her confirmation. I would
Speaker 1: be particularly interested to see where somebody like Lindsay Graham
Speaker 1: comes down on this. He voted for her. Was one
Speaker 1: of the Republicans who voted for her for the district
Speaker 1: Court the Circuit court confirmation, but he was pushing for
Speaker 1: Michelle Childs from South Carolina. So I'm curious where the
Speaker 1: moderates come in and where Lindsay Graham, who is a
Speaker 1: senior member of the Judiciary Committee, comes down on her nomination. Yeah,
Speaker 1: talking about all that's on the congressional plate, of course,
Speaker 1: they're still working on appropriations bills. The activity that has
Speaker 1: to get done before this year is that we'll leave
Speaker 1: it there for now. Jack, thanks for being with us.
Speaker 1: Bloomberg Government Congressional reporter Jack Fitzpatrick from our Bloomberg nine
Speaker 1: one studios in the nation's capital. Read much more about
Speaker 1: what's happening in d C, Bloomberg dot Com or on
Speaker 1: the Bloomberg terminal. Of course, you can listen to Bloomberg
Speaker 1: Radio in Washington Bloomberg and one oh five point seven
Speaker 1: F M H D two. Karen, all right, Nathan, thank
Speaker 1: you At A sixty six on Wall Street. This is
Speaker 1: Bloomberg Daybreak and Marches Women's History Month, and every day
Speaker 1: this month we're celebrating significant moments in women's history. Now
Speaker 1: with your installment for March third. Here is Bloomberg's or
Speaker 1: need a Young on this stay in Women's History. In
Speaker 1: ninet thirteen, the first major parade for women's suffrage took
Speaker 1: over Washington, d C. Thousands of women gathered to call
Speaker 1: for a constitutional amendment guaranteeing women the right to vote.
Speaker 1: Women had been fighting hard for suffrage for more than
Speaker 1: sixty years by that time, but this marked the first
Speaker 1: major national event for the movement. The huge parade was
Speaker 1: spearheaded by Alice paul Land, the National American Women Suffrage Association.
Speaker 1: Parade organizers maximized attention on the event by strategically hosting
Speaker 1: it just one day before the inauguration of President elect
Speaker 1: Woodrow Wilson. This tactic worked. That's today in women's history.
Speaker 1: I'm nia young, Bloomberg Radio A right Native, Thank you.
Speaker 1: SMP Future is down about ten points this morning. Down
Speaker 1: Future is down forty five and NASDAG futures are down
Speaker 1: fifty and Comex school is woming higher. It's up seven
Speaker 1: ten percent thirteen dollars ninety cents at nineteen thirty six
Speaker 1: twenty unnounced Nimex screwed oil up almost two percent at
Speaker 1: a hundred twelve dollars seventy two cents a barrel. Bloomber's
Speaker 1: surveillance is straight ahead. And for Nathan hagar on Karin Moscow,
Speaker 1: and this is Bloomberg