1 00:00:03,720 --> 00:00:07,039 Speaker 1: My from the Bloomberg Interactive Brooker Studios is a Bloomberg 2 00:00:07,120 --> 00:00:11,200 Speaker 1: day Break for Wednesday, January nineteen two. Coming up this hour, 3 00:00:11,720 --> 00:00:14,160 Speaker 1: stocks Paris sell off in the wake of a surge 4 00:00:14,200 --> 00:00:17,800 Speaker 1: in Treasury years, Bank of America and Morgan Stanley prepared 5 00:00:17,840 --> 00:00:21,800 Speaker 1: to a quarterings. The five G Rollout disrupts flights around 6 00:00:21,840 --> 00:00:23,919 Speaker 1: the world, and the White House looks to reign in 7 00:00:23,960 --> 00:00:27,560 Speaker 1: the nation's biggest tech companies. Rudy Giuliani is among other 8 00:00:27,560 --> 00:00:30,520 Speaker 1: Trump lawyers subpoena and in the Capitol ryot pro plus 9 00:00:30,560 --> 00:00:34,120 Speaker 1: COVID cases are falling in New Jersey. I'm Michael lar More, Ah, 10 00:00:34,920 --> 00:00:37,199 Speaker 1: I'm John stash Our in Sports, second Day to Row 11 00:00:37,280 --> 00:00:40,280 Speaker 1: and Nick's Home Last Minnesota one by two the Islanders 12 00:00:40,320 --> 00:00:46,240 Speaker 1: one in a studo That's all straight ahead on Bloomberg 13 00:00:46,320 --> 00:00:51,480 Speaker 1: day Break on Bloomberg Element Trio, New York, Bloomberg nine one, Washington, 14 00:00:51,600 --> 00:00:55,680 Speaker 1: d C, Bloomberg one O six one, Boston, Bloomberg nine sixties, 15 00:00:55,680 --> 00:00:59,680 Speaker 1: San Francisco, Sirius x M one nineteen and around the 16 00:00:59,680 --> 00:01:03,120 Speaker 1: world on Bloomberg Radio dot Com and via the Bloomberg 17 00:01:03,160 --> 00:01:09,520 Speaker 1: Business Set. Good morning, I'm Nathan Hagar, and I'm fair 18 00:01:09,560 --> 00:01:11,840 Speaker 1: in Moscow. You wut dot index. Future is on the 19 00:01:12,000 --> 00:01:14,920 Speaker 1: rise this morning, rebounding from a sharp sell off overnight, 20 00:01:15,040 --> 00:01:16,640 Speaker 1: coming up to six oh one on Wall Street, and 21 00:01:16,720 --> 00:01:19,280 Speaker 1: we check the markets every fifteen minutes throughout the trading day. 22 00:01:19,560 --> 00:01:22,479 Speaker 1: On bloomberg S and P Future is up twelve points down. 23 00:01:22,520 --> 00:01:25,520 Speaker 1: Future is up sixty four Nasdack Future is up sixty 24 00:01:25,640 --> 00:01:28,080 Speaker 1: six the Dacks in Germany's up a third of a percent. 25 00:01:28,400 --> 00:01:31,040 Speaker 1: Ten year Treasury down three thirties seconds yield one point 26 00:01:31,120 --> 00:01:33,200 Speaker 1: eight eight percent. They yield on the two year one 27 00:01:33,240 --> 00:01:36,080 Speaker 1: point oh five percent. Night Max Screwed oil is up 28 00:01:36,080 --> 00:01:38,000 Speaker 1: one and a half percent of a dollar thirty one 29 00:01:38,040 --> 00:01:40,640 Speaker 1: at eighty six dollars seventy four cents of barrel and 30 00:01:40,720 --> 00:01:43,640 Speaker 1: bitcoin this morning moving lower at forty one thousand, six 31 00:01:43,760 --> 00:01:46,520 Speaker 1: hundred dollars. Nathan Karen, it is all about the markets 32 00:01:46,560 --> 00:01:50,160 Speaker 1: this morning. Stock features are rebounding after a sharp drop overnight. 33 00:01:50,240 --> 00:01:52,800 Speaker 1: Let's get the very latest live from Bloomberg's John Tucker. 34 00:01:52,880 --> 00:01:55,760 Speaker 1: Good morning, John, Nathan Nasak. Futures fell as much as 35 00:01:55,840 --> 00:01:58,640 Speaker 1: one percent overnight. Right now they're up four tens of 36 00:01:58,640 --> 00:02:02,120 Speaker 1: a percent for in Maastors fed rate hikes are baked 37 00:02:02,160 --> 00:02:05,360 Speaker 1: into the cakes starting in March, and now there's speculation 38 00:02:05,440 --> 00:02:08,560 Speaker 1: the Central Bank will deliver more than a quarter percentage 39 00:02:08,560 --> 00:02:12,120 Speaker 1: point hike at that meeting. More hawkish Fed weighing on stocks, 40 00:02:12,240 --> 00:02:15,960 Speaker 1: especially Tex shares lately. But AzaC one hundred sank two 41 00:02:15,960 --> 00:02:19,480 Speaker 1: point six percent yesterday from its November peak. The Tech 42 00:02:19,480 --> 00:02:23,160 Speaker 1: heavy index has fallen nine point six percent. Just shy 43 00:02:23,240 --> 00:02:25,799 Speaker 1: of the correction. Live in New York. I'm John Tucker, 44 00:02:26,000 --> 00:02:29,040 Speaker 1: Bloomberg debreak, John, thank you. We saw the US sell 45 00:02:29,080 --> 00:02:31,959 Speaker 1: off spread to Asia overnight. We get the recap from 46 00:02:31,960 --> 00:02:36,000 Speaker 1: Bloomberg's Juliet Sally and Singapore. Good morning, Juliette, Good morning Karen. 47 00:02:36,080 --> 00:02:38,280 Speaker 1: The m s CI Asia Pacific Index fell for a 48 00:02:38,360 --> 00:02:42,200 Speaker 1: fifth session, as longest losing streaks since March. Japanese equities 49 00:02:42,280 --> 00:02:45,079 Speaker 1: led the decline as the topics closed lower by almost 50 00:02:45,240 --> 00:02:48,600 Speaker 1: three percent. Sony shares fell the most since October two 51 00:02:48,680 --> 00:02:51,840 Speaker 1: thousand and eight after news that its rival Microsoft plans 52 00:02:51,880 --> 00:02:55,639 Speaker 1: to buy Activision Blizzard for sixty eight point seven billion dollars. 53 00:02:55,960 --> 00:02:59,040 Speaker 1: Shares of some other Asian game related stokes climbed amid 54 00:02:59,120 --> 00:03:03,000 Speaker 1: speculation on further industry m and A. Chinese developers also 55 00:03:03,120 --> 00:03:05,799 Speaker 1: rose in Hong Kong after the PBOC pledge to use 56 00:03:05,919 --> 00:03:09,040 Speaker 1: more monetary policy tools to aid the economy and ease 57 00:03:09,120 --> 00:03:12,560 Speaker 1: credit stress, and bonds in New Zealand and Australia joined 58 00:03:12,639 --> 00:03:16,200 Speaker 1: the global route in Singapore. Julie at Sally Bloomberg Daybreak. 59 00:03:16,360 --> 00:03:18,360 Speaker 1: All right, Juliet, thank you. It's a different picture in 60 00:03:18,400 --> 00:03:20,880 Speaker 1: Europe this morning, where early losses have flipped to gain. 61 00:03:20,960 --> 00:03:22,640 Speaker 1: So let's go to London and get the details life 62 00:03:22,639 --> 00:03:26,760 Speaker 1: from Bloomberg's Max Ramsey. Max. What's the latest, Yes, Nathan, 63 00:03:26,800 --> 00:03:29,880 Speaker 1: turning more positive as we get through the European session today, 64 00:03:29,919 --> 00:03:32,200 Speaker 1: the stock six hundred up three tenths of eight percent 65 00:03:32,440 --> 00:03:35,760 Speaker 1: right now. Yields remain and focus here too. We have 66 00:03:35,920 --> 00:03:38,840 Speaker 1: the tenure German bun yield turned positive for the first 67 00:03:38,840 --> 00:03:43,600 Speaker 1: time since today, yielding just no point, not not two percent, 68 00:03:43,760 --> 00:03:47,080 Speaker 1: So just in positive territory right now. In terms of 69 00:03:47,080 --> 00:03:50,160 Speaker 1: the stock six industry groups, it's retail really powering a 70 00:03:50,160 --> 00:03:52,560 Speaker 1: lot of the games today. The biggest mover to the 71 00:03:52,640 --> 00:03:55,720 Speaker 1: upside among the industry groups, Reachmore. The biggest step mover 72 00:03:56,280 --> 00:03:59,080 Speaker 1: in terms of stocks Swiss luxury goods company that with 73 00:03:59,160 --> 00:04:02,600 Speaker 1: strong third quarter sales. Other companies Barbary Swatch Monclad also 74 00:04:02,720 --> 00:04:05,520 Speaker 1: doing very well so far. This morning live in London, 75 00:04:05,520 --> 00:04:07,960 Speaker 1: I'm Max Ramsey putting back day break right Max, thank 76 00:04:07,960 --> 00:04:10,200 Speaker 1: you well. Inflation is also a friend and center in Europe. 77 00:04:10,200 --> 00:04:13,120 Speaker 1: Prices in the UK unexpectedly searched at the fastest pace 78 00:04:13,240 --> 00:04:16,280 Speaker 1: in thirty years. Consumer prices rose at an annual rate 79 00:04:16,279 --> 00:04:19,280 Speaker 1: of five point four percent in December. That adds pressure 80 00:04:19,279 --> 00:04:21,520 Speaker 1: to the Bank of England to raise interest rates again 81 00:04:21,640 --> 00:04:23,720 Speaker 1: next month. And when it comes to the pandemic in 82 00:04:23,760 --> 00:04:26,320 Speaker 1: the UK, Karen it looks like COVID restrictions could be 83 00:04:26,360 --> 00:04:29,359 Speaker 1: lifted soon. Prime Minister Boris Johnson will reportedly announce the 84 00:04:29,400 --> 00:04:31,960 Speaker 1: lifting of rules in England today. That's according to the 85 00:04:32,000 --> 00:04:34,720 Speaker 1: Financial Times, which says work from home guidance and the 86 00:04:34,800 --> 00:04:38,040 Speaker 1: use of COVID passes are expected to end all back 87 00:04:38,040 --> 00:04:41,280 Speaker 1: here in the US, Nathan Bank earnings continue to rolland 88 00:04:41,320 --> 00:04:44,320 Speaker 1: Bank of America and Morgan Stanley reporting results this morning, 89 00:04:44,320 --> 00:04:47,480 Speaker 1: and we get a preview from Bloomberg Global Finance correspondent 90 00:04:47,520 --> 00:04:50,800 Speaker 1: Shnali Bask. Most of the big banks have reported earnings 91 00:04:50,800 --> 00:04:53,159 Speaker 1: and what it's shown is that trading is following below 92 00:04:53,200 --> 00:04:57,039 Speaker 1: expectations and the consumer is not jumping back as fast 93 00:04:57,080 --> 00:04:59,800 Speaker 1: as expected. We'll look for both of those figures today 94 00:04:59,839 --> 00:05:02,839 Speaker 1: when Morgan Stanley, the biggest stock trading shop on Wall Street, 95 00:05:02,920 --> 00:05:06,320 Speaker 1: reports earnings at a tough time for equities trading, and 96 00:05:06,400 --> 00:05:09,840 Speaker 1: Bank of America reports earnings with a consumer and mind 97 00:05:10,279 --> 00:05:14,000 Speaker 1: Um Schnelly, Bassk Bloomberg Daybreak Sally Thanks. Outside of Wall Street, 98 00:05:14,000 --> 00:05:16,039 Speaker 1: airlines are in focus this morning. The roll out of 99 00:05:16,040 --> 00:05:19,080 Speaker 1: five G wireless in the US is disrupting flight schedules 100 00:05:19,080 --> 00:05:22,080 Speaker 1: around the world. Bloombergs Ranita Young has the latest Live 101 00:05:22,080 --> 00:05:25,040 Speaker 1: Good Morning, Ranita, Good morning Nathan. Airlines fear if five 102 00:05:25,080 --> 00:05:28,320 Speaker 1: G services are too close to airports they could interfere 103 00:05:28,320 --> 00:05:32,440 Speaker 1: with key safety systems, so they're adjusting their schedules. British 104 00:05:32,480 --> 00:05:35,040 Speaker 1: Airways has canceled a handful of flights to the US. 105 00:05:35,360 --> 00:05:39,799 Speaker 1: Dubai's Immorrates is suspending routes to several US cities, including Chicago, 106 00:05:39,920 --> 00:05:43,479 Speaker 1: New York, and San Francisco. In Japanese carriers are also 107 00:05:43,560 --> 00:05:46,520 Speaker 1: dropping routes and will not fly some jets to and 108 00:05:46,640 --> 00:05:50,800 Speaker 1: from the US. Mainland airlines are concerned about possible interference 109 00:05:50,839 --> 00:05:54,839 Speaker 1: with navigation equipment that's used during landings. In poor weather, 110 00:05:55,400 --> 00:05:58,560 Speaker 1: live in New York. I'm Ranita Young Bloomberg Daybreak, Ranita, 111 00:05:58,600 --> 00:06:00,520 Speaker 1: thank you. At the White House. This week, big tech 112 00:06:00,600 --> 00:06:03,200 Speaker 1: is in focus. The Biden administration is looking at how 113 00:06:03,200 --> 00:06:06,040 Speaker 1: to reign in the nation's biggest tech companies to write 114 00:06:06,040 --> 00:06:10,680 Speaker 1: partisan legislation. Any Morris says details from our Bloomberg newsroom 115 00:06:10,680 --> 00:06:13,760 Speaker 1: in Washington. Sources tell Bloomberg News the White House is 116 00:06:13,880 --> 00:06:16,960 Speaker 1: planning a meeting this week to discuss curbing the dominance 117 00:06:16,960 --> 00:06:21,000 Speaker 1: of Apple, Amazon, Alphabet, and Meta. Critics of the tech giants, 118 00:06:21,000 --> 00:06:24,159 Speaker 1: along with representatives of smaller digital firms, will be there 119 00:06:24,360 --> 00:06:27,719 Speaker 1: as the White House gauges support for this antitrust measure 120 00:06:27,920 --> 00:06:31,279 Speaker 1: sponsored by Senators Amy Klobascher and Chuck Grassley, but the 121 00:06:31,320 --> 00:06:33,840 Speaker 1: big tech companies say that could harm their products that 122 00:06:33,880 --> 00:06:36,840 Speaker 1: are popular with consumers. The bill could go before the 123 00:06:36,880 --> 00:06:40,400 Speaker 1: Senate Judiciary Committee as early as tomorrow in Washington, I 124 00:06:40,480 --> 00:06:43,320 Speaker 1: maybe more as Bloomberg Daybreak and on Capitol Hill, Senate 125 00:06:43,360 --> 00:06:46,520 Speaker 1: Democrats have taken up voting rights legislation, but Republicans are 126 00:06:46,520 --> 00:06:50,360 Speaker 1: expected to block a final vote. Democratic Congresswoman Haley Stephen 127 00:06:50,440 --> 00:06:53,440 Speaker 1: says it's all about politics and that needs to change. 128 00:06:54,080 --> 00:06:57,760 Speaker 1: We need seriousness back in the halls of Washington. We 129 00:06:57,800 --> 00:07:00,680 Speaker 1: need connectivity to the people we represent, the issues that 130 00:07:00,720 --> 00:07:05,720 Speaker 1: are important to them, and solution making Politick. Congresswoman Hayley 131 00:07:05,720 --> 00:07:08,720 Speaker 1: Stephen spoke with our Washington correspondent Joe Matthew on Bloomberg 132 00:07:08,839 --> 00:07:11,240 Speaker 1: Sound on It airs weekdays at five pm Eastern on 133 00:07:11,240 --> 00:07:14,240 Speaker 1: Bloomberg Radio, and a rare news conference from President Biden's 134 00:07:14,280 --> 00:07:16,680 Speaker 1: coming up this afternoon. We'll have that for you live 135 00:07:16,800 --> 00:07:24,120 Speaker 1: later today on Bloomberg Radio and right now at six 136 00:07:24,160 --> 00:07:26,360 Speaker 1: oh seven on Wall Street. Were thirty two degrees in 137 00:07:26,440 --> 00:07:28,840 Speaker 1: Central Parking got an accident of the southbound to Conic 138 00:07:28,880 --> 00:07:31,880 Speaker 1: at the Springbrook in Hawthorne. Details coming up in traffic. 139 00:07:32,000 --> 00:07:34,320 Speaker 1: First Michael Barr with more on what's going on in 140 00:07:34,360 --> 00:07:36,520 Speaker 1: New York and around the world. Good morning, Michael, Good 141 00:07:36,560 --> 00:07:40,880 Speaker 1: morning Nathan. In the January six House Committee, they have 142 00:07:41,160 --> 00:07:45,000 Speaker 1: moved its investigation process to Trump supporters who tried to 143 00:07:45,080 --> 00:07:48,800 Speaker 1: undo the election. Bloomberg's and Baxter reports it has now 144 00:07:48,920 --> 00:07:53,280 Speaker 1: chapointed attorney's Rudy Giuliani, Sidney Powell, and Jenna Ellis. They 145 00:07:53,280 --> 00:07:55,400 Speaker 1: were the main focus, so the legal teams trying to 146 00:07:55,440 --> 00:08:00,000 Speaker 1: get the election overturned in Giuliani's case, urging state ledge 147 00:08:00,000 --> 00:08:04,040 Speaker 1: of slaters to overturn voting results and spreading this information 148 00:08:04,080 --> 00:08:08,040 Speaker 1: regarding the election results themselves, then leading to the January 149 00:08:08,120 --> 00:08:12,080 Speaker 1: six insurrection attempt. Committee chair Benny Thompson says, in the 150 00:08:12,120 --> 00:08:15,520 Speaker 1: efforts to subvert the system, they were in direct contact 151 00:08:15,600 --> 00:08:19,720 Speaker 1: with Donald Trump in San Francisco. I'm at Baxter Bloomberg Gabrie, 152 00:08:19,800 --> 00:08:23,080 Speaker 1: New York's Attorney General, last a judge to order Donald 153 00:08:23,080 --> 00:08:26,120 Speaker 1: Trump and two of his adult children to testify under 154 00:08:26,160 --> 00:08:28,880 Speaker 1: oath as part of the state civil probe into the 155 00:08:28,920 --> 00:08:33,040 Speaker 1: family real estate business. A g Letitia James has investigators 156 00:08:33,080 --> 00:08:37,160 Speaker 1: have already uncovered a pattern of potential fraudulent asset valuations. 157 00:08:37,600 --> 00:08:39,720 Speaker 1: A New York City Police officer was wounded in the 158 00:08:39,720 --> 00:08:43,239 Speaker 1: Bronx last night while apprehending a sixteen year old suspect 159 00:08:43,240 --> 00:08:45,800 Speaker 1: with a gun. Police say there was a scuffle over 160 00:08:45,840 --> 00:08:48,000 Speaker 1: the gun, it went off, and both the officer and 161 00:08:48,040 --> 00:08:50,760 Speaker 1: the suspect was shot in the leg. Both have non 162 00:08:50,840 --> 00:08:53,959 Speaker 1: life threatening injuries and were brought to the hospital. Mayor 163 00:08:54,120 --> 00:08:57,000 Speaker 1: Eric Adams at the hospital commented on a surge of 164 00:08:57,040 --> 00:09:00,560 Speaker 1: gun violence in the city. One officers shot is one 165 00:09:00,600 --> 00:09:06,400 Speaker 1: officer too many. One civilians shot is one civilian too many. 166 00:09:07,120 --> 00:09:10,000 Speaker 1: A city must be safe. That's the promise I'm made, 167 00:09:10,040 --> 00:09:13,240 Speaker 1: and that's the promise I'm going to keep. Meanwhile, Mayor 168 00:09:13,280 --> 00:09:16,160 Speaker 1: Adams admits even he doesn't feel safe on the city 169 00:09:16,240 --> 00:09:20,080 Speaker 1: subway system. Adams comments come after a woman was pushed 170 00:09:20,080 --> 00:09:22,000 Speaker 1: to her death in front of a New York City 171 00:09:22,000 --> 00:09:25,600 Speaker 1: subway train at Times Square over the weekend. The victim, 172 00:09:25,640 --> 00:09:28,920 Speaker 1: forty year old Michelle Go, did volunteer work for the homeless. 173 00:09:29,320 --> 00:09:32,600 Speaker 1: Go had ties to the San Francisco area individual was 174 00:09:32,640 --> 00:09:35,520 Speaker 1: held there for her last night. A statement was read 175 00:09:35,600 --> 00:09:39,400 Speaker 1: from Gol's family. We hope Michelle will be remembered for 176 00:09:39,440 --> 00:09:42,560 Speaker 1: how she lived and not just how she died. She 177 00:09:42,679 --> 00:09:45,679 Speaker 1: was a beautiful, brilliant, kind and intelligent woman who loved 178 00:09:45,679 --> 00:09:48,600 Speaker 1: her family and friends, love to travel the world and 179 00:09:48,640 --> 00:09:52,040 Speaker 1: to help others. The NYPD says the man accused of 180 00:09:52,040 --> 00:09:55,720 Speaker 1: push and Go is homeless and emotionally disturbed. New Jersey 181 00:09:55,760 --> 00:09:58,000 Speaker 1: is now seeing a decline in COVID case rates and 182 00:09:58,040 --> 00:10:02,360 Speaker 1: teenak they're seeing hospitalizations draw Global News twenty four hours 183 00:10:02,360 --> 00:10:05,200 Speaker 1: a day on here and on Bloomberg. Quick Take, powered 184 00:10:05,200 --> 00:10:07,400 Speaker 1: by more than twenty seven hundred journalists, analysts more than 185 00:10:07,400 --> 00:10:10,360 Speaker 1: a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan. 186 00:10:10,440 --> 00:10:17,040 Speaker 1: Thanks Michael. Just about six ten on Wall Street time 187 00:10:17,080 --> 00:10:19,720 Speaker 1: for the Bloomberg Sports Update. Here's John sta At Nathan 188 00:10:19,760 --> 00:10:22,199 Speaker 1: Good without the guard. Knicks trailed the Timberwolves by twelve 189 00:10:22,240 --> 00:10:24,800 Speaker 1: and the first half big forty point third quarter led 190 00:10:24,800 --> 00:10:26,800 Speaker 1: by Heavan four Yays three point shooting, the Knicks went 191 00:10:26,880 --> 00:10:29,600 Speaker 1: up by nine. Minnesota then failed by one in the 192 00:10:29,640 --> 00:10:33,040 Speaker 1: final minute down t als past Towns. Top of the 193 00:10:33,080 --> 00:10:35,679 Speaker 1: key guess Julius Randol takes the trouble left handed down 194 00:10:35,720 --> 00:10:39,400 Speaker 1: the laid up off last counted for two Towns puts 195 00:10:39,400 --> 00:10:41,959 Speaker 1: the Wolves up one ten one oh nine, which twenty 196 00:10:42,040 --> 00:10:45,400 Speaker 1: nine point three seconds left. Those Radio Fourgnja and Alley 197 00:10:45,480 --> 00:10:48,679 Speaker 1: Birks miss shots on the next final possession in Minnesota 198 00:10:48,760 --> 00:10:51,160 Speaker 1: won one twelve to one ten. So two home losses 199 00:10:51,160 --> 00:10:53,640 Speaker 1: in two days drops the Knicks back under five hundred 200 00:10:53,840 --> 00:10:56,720 Speaker 1: four years, going twenty seven points. Julius Randall at twenty 201 00:10:56,760 --> 00:11:00,280 Speaker 1: one nine rebounds, nine assists, four block shots. Kemba Walker 202 00:11:00,320 --> 00:11:02,280 Speaker 1: returned after missing nine games with a knee injury. He 203 00:11:02,360 --> 00:11:04,760 Speaker 1: got hot in the fourth quarter finish with nineteen. It 204 00:11:04,840 --> 00:11:06,600 Speaker 1: was not a great game for r J. Barrett has 205 00:11:06,640 --> 00:11:09,880 Speaker 1: seven turnovers. The Islanders won only five of their first 206 00:11:09,880 --> 00:11:12,120 Speaker 1: twenty games. They've won five of their last six. They've 207 00:11:12,120 --> 00:11:14,199 Speaker 1: reached five hundred or fourth three win a Philadelphia to 208 00:11:14,200 --> 00:11:16,600 Speaker 1: sweep the home and home the Flyers ninth loss in 209 00:11:16,600 --> 00:11:18,920 Speaker 1: a row. The game went to a shootout. There were 210 00:11:19,000 --> 00:11:23,280 Speaker 1: seventeen consecutive misses the four Oliver Walstrom in the ninth 211 00:11:23,320 --> 00:11:26,080 Speaker 1: rounds for the game winner for the Islanders. Rangers back 212 00:11:26,080 --> 00:11:28,720 Speaker 1: home tonight for Toronto Make It. Savanta Jad won the 213 00:11:28,800 --> 00:11:30,720 Speaker 1: fan vote to get to play in the All Star Game, 214 00:11:30,760 --> 00:11:34,720 Speaker 1: but decided not to play personal reasons. College hoops Duke 215 00:11:34,840 --> 00:11:38,040 Speaker 1: lost in overtime at Florida State, Iona won in overtime 216 00:11:38,080 --> 00:11:42,080 Speaker 1: at Monmouth Now fifteen and three losses for Fordham in Manhattan. 217 00:11:42,120 --> 00:11:44,040 Speaker 1: Raphael the Dad won his second round match at the 218 00:11:44,040 --> 00:11:47,000 Speaker 1: Australian Open, so did the Yomi Osaka and the women's 219 00:11:47,040 --> 00:11:51,559 Speaker 1: top seed at Party. John stash Aw Sports n all Right. John, 220 00:11:51,600 --> 00:11:54,960 Speaker 1: thanks Futures adding to their games now with SMP futures 221 00:11:55,040 --> 00:11:58,520 Speaker 1: up twelve points. Futures of seventy four nanct futures are 222 00:11:58,559 --> 00:12:02,880 Speaker 1: higher by sixty three points. You're listening to Bloomberg Daybreak 223 00:12:07,559 --> 00:12:09,720 Speaker 1: Bloomberg eleven three oh weather mix of sun and clouds 224 00:12:09,720 --> 00:12:11,920 Speaker 1: today and a hi in your forty five degrees overnight 225 00:12:11,920 --> 00:12:15,960 Speaker 1: wintrey mess. Temperatures fall through tomorrow. By Friday will only 226 00:12:15,960 --> 00:12:18,400 Speaker 1: get up to the low twenties, currently thirty two degrees 227 00:12:18,400 --> 00:12:24,680 Speaker 1: in Central Park. Markets, headlines and breaking news twenty four 228 00:12:24,679 --> 00:12:27,680 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 229 00:12:27,760 --> 00:12:31,400 Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg business 230 00:12:31,480 --> 00:12:41,280 Speaker 1: lash and I'm camerin Moscow and you mustock. Index futures 231 00:12:41,320 --> 00:12:44,880 Speaker 1: are on the rise this morning, after reversing earlier losses. 232 00:12:44,920 --> 00:12:47,240 Speaker 1: We checked the markets every fifteen minutes throughout the trading 233 00:12:47,320 --> 00:12:50,120 Speaker 1: day on Bloomberg Guess and P futures up nine points 234 00:12:50,200 --> 00:12:53,520 Speaker 1: now Future is up sixty nasday futures up forty six. 235 00:12:53,559 --> 00:12:56,160 Speaker 1: The decks in Germany's up three tenths of epercent, and 236 00:12:56,280 --> 00:12:59,320 Speaker 1: your treasury down to thirty seconds. He had one percent 237 00:12:59,360 --> 00:13:01,320 Speaker 1: they yield in the two year one point oh five 238 00:13:01,360 --> 00:13:03,600 Speaker 1: per cent. Nin mex S crude oil is up one 239 00:13:03,600 --> 00:13:05,960 Speaker 1: point one percent, or ninety seven cents at eighty six 240 00:13:06,000 --> 00:13:08,599 Speaker 1: dollars forty cents of Barrel Comic School the third of 241 00:13:08,600 --> 00:13:11,199 Speaker 1: eper cent or six dollars twenty cents. At eighteen eighteen 242 00:13:11,240 --> 00:13:13,920 Speaker 1: sixty announced the euro one point one three four or 243 00:13:14,000 --> 00:13:16,360 Speaker 1: five against the dollar British bound one point three six 244 00:13:16,360 --> 00:13:19,200 Speaker 1: four zero, and the Yettis had won fourteen point five 245 00:13:19,280 --> 00:13:22,880 Speaker 1: one bitcoin, moving lower at forty two thousand dollars. Today, 246 00:13:22,880 --> 00:13:25,440 Speaker 1: we are watching for reports on housing starts and building 247 00:13:25,440 --> 00:13:28,120 Speaker 1: permits out of a thirty Wall Street Time and Morgan 248 00:13:28,200 --> 00:13:30,599 Speaker 1: Stanley and Bank of America are among companies schedule to 249 00:13:30,640 --> 00:13:33,920 Speaker 1: report earnings today. That's a Bloomberg business flash. Now here's 250 00:13:33,960 --> 00:13:35,960 Speaker 1: Michael Barr with Moore on let's go a lot around 251 00:13:35,960 --> 00:13:38,720 Speaker 1: the world. Buchael Karen, thank you very much. The House 252 00:13:38,720 --> 00:13:42,800 Speaker 1: Committee investigating the US Capitol, Ryan s of Peanut, Rudy Giuliani, 253 00:13:43,080 --> 00:13:45,720 Speaker 1: and other members of Donald Trump's legal team who filed 254 00:13:45,800 --> 00:13:50,280 Speaker 1: legal challenges to the twenty twenty election. The list includes Giuliani, 255 00:13:50,559 --> 00:13:54,280 Speaker 1: Jenna Ellis, and Sydney Poem. Secretary of State Anthony B. 256 00:13:54,320 --> 00:13:57,520 Speaker 1: Lincoln will meet with his Russian counterpart in Switzerland this 257 00:13:57,559 --> 00:14:00,720 Speaker 1: week as tensions between the US and rush to escalate 258 00:14:00,960 --> 00:14:04,800 Speaker 1: over a possible Russian invasion of Ukraine. Lincoln arrived in 259 00:14:04,920 --> 00:14:08,560 Speaker 1: Kiev today to meet with President Volodamir z Lensky. In 260 00:14:08,600 --> 00:14:11,720 Speaker 1: the NBA, the next loss, the Warriors one in the NHL, 261 00:14:11,840 --> 00:14:14,760 Speaker 1: the Islanders wanting to shootout against the Flyers four three, 262 00:14:15,160 --> 00:14:18,640 Speaker 1: the Capitol's one, the Bruins lost. Global News twenty four 263 00:14:18,640 --> 00:14:21,400 Speaker 1: hours a day on here and on Bloomberg quick Take, 264 00:14:21,680 --> 00:14:24,960 Speaker 1: powered by more than twenty seven under journalists and analysts 265 00:14:25,120 --> 00:14:27,680 Speaker 1: in more than a hundred twenty countries. Michael bar this 266 00:14:28,000 --> 00:14:30,440 Speaker 1: is Bloomberg. Nathan all right, Michael, thank you. At six 267 00:14:30,560 --> 00:14:33,840 Speaker 1: nineteen on Wall Street Line from the Bloomberg Intractor Broker Studios. 268 00:14:33,840 --> 00:14:36,120 Speaker 1: This is Bloomberg a daybreak. Let's get an update on 269 00:14:36,160 --> 00:14:37,960 Speaker 1: the pandemic now as we continue to track the O 270 00:14:38,040 --> 00:14:41,400 Speaker 1: macron variant and efforts to fight it. Dr Stewart Ray 271 00:14:41,560 --> 00:14:43,920 Speaker 1: is with us this morning, Vice Chair of Medicine at 272 00:14:43,920 --> 00:14:47,360 Speaker 1: the Johns Hopkins University School of Medicine. Dr. Good morning. 273 00:14:47,400 --> 00:14:49,120 Speaker 1: I'd like to get an update from you on where 274 00:14:49,200 --> 00:14:52,160 Speaker 1: you think the O macron pandemic is going at this 275 00:14:52,280 --> 00:14:56,640 Speaker 1: point when we've seen pretty dramatic drops in cases and hospitalizations. 276 00:14:56,680 --> 00:14:58,920 Speaker 1: Particularly in New York City and other parts of the 277 00:14:58,920 --> 00:15:02,960 Speaker 1: Northeast over the past here, So yes, good morning. It's 278 00:15:03,080 --> 00:15:06,880 Speaker 1: looking better in areas that were hit first with this wave. 279 00:15:07,080 --> 00:15:13,520 Speaker 1: We're still seeing rises in hospitalizations and deaths in many areas, 280 00:15:13,680 --> 00:15:16,360 Speaker 1: and we probably haven't seen the worst of it in 281 00:15:16,400 --> 00:15:19,600 Speaker 1: areas that it arrived later. But I think we're definitely 282 00:15:19,600 --> 00:15:22,200 Speaker 1: seeing a turn for the better in many areas. What 283 00:15:22,240 --> 00:15:24,600 Speaker 1: are you looking for when it comes to how this 284 00:15:24,680 --> 00:15:27,600 Speaker 1: pandemic could play out from here? Are you concerned about 285 00:15:27,640 --> 00:15:32,120 Speaker 1: future variants? I am. I think that a lot of 286 00:15:32,160 --> 00:15:36,320 Speaker 1: immunity has been built up through vaccination and through some infections. Obviously, 287 00:15:36,480 --> 00:15:38,920 Speaker 1: the tremendous costs. We have a couple of thousand people 288 00:15:39,400 --> 00:15:43,760 Speaker 1: in America dying every day from this fire. So uh, 289 00:15:43,840 --> 00:15:48,200 Speaker 1: it's your costly effort. But but we're getting a level 290 00:15:48,240 --> 00:15:52,040 Speaker 1: of immunity that may prevent uh future big waves of 291 00:15:52,240 --> 00:15:54,800 Speaker 1: hospitalizations and deaths. We're going to have to see whether 292 00:15:54,840 --> 00:15:58,960 Speaker 1: the immunity from omicron really translates to broad immunity and 293 00:15:59,000 --> 00:16:03,280 Speaker 1: whether a new variant might arise from somewhere which is 294 00:16:03,440 --> 00:16:06,280 Speaker 1: much different. And you know, the possibility is always there 295 00:16:06,320 --> 00:16:09,560 Speaker 1: that the next one could result in spirit disease. I 296 00:16:09,560 --> 00:16:12,840 Speaker 1: think the hope that everyone has is that will become 297 00:16:12,840 --> 00:16:16,600 Speaker 1: milder if it evolves again. But most people have transmitted 298 00:16:16,640 --> 00:16:20,320 Speaker 1: the virus before they developed severe disease, so the link 299 00:16:20,360 --> 00:16:24,080 Speaker 1: between severe disease and transmission probably isn't one we can 300 00:16:24,080 --> 00:16:26,040 Speaker 1: count on. I wanted to ask you a little bit 301 00:16:26,080 --> 00:16:31,640 Speaker 1: more about the effect of O. Macron infection on future infection. 302 00:16:31,680 --> 00:16:33,680 Speaker 1: We've gotten more studies. I think there was one just 303 00:16:33,800 --> 00:16:37,360 Speaker 1: yesterday from South Africa that suggested that an O. Macron 304 00:16:37,480 --> 00:16:40,600 Speaker 1: infection can protect against Delta, which I think we've seen 305 00:16:40,720 --> 00:16:44,000 Speaker 1: is a much more severe strain compared to O macron. 306 00:16:44,160 --> 00:16:47,280 Speaker 1: Is that a reason to for some hope that the 307 00:16:47,680 --> 00:16:51,840 Speaker 1: widespread spread of O. Macron could get us closer to 308 00:16:51,920 --> 00:16:57,560 Speaker 1: that endemic phase? Yes, I think that it does suggest 309 00:16:57,600 --> 00:17:01,160 Speaker 1: that we're gonna have less severe disease is in the future, 310 00:17:01,760 --> 00:17:03,840 Speaker 1: and people who have had the infection or who have 311 00:17:03,840 --> 00:17:08,560 Speaker 1: been vaccinated. The challenges that we don't know that the 312 00:17:08,600 --> 00:17:12,800 Speaker 1: next one will be similar enough, and basically we may 313 00:17:12,800 --> 00:17:15,240 Speaker 1: be boxing the virus into a corner where it's next 314 00:17:15,240 --> 00:17:20,120 Speaker 1: evolutionary step might require that it be energetically different enough 315 00:17:20,200 --> 00:17:22,840 Speaker 1: that it can evade some of this immunity. It's really 316 00:17:22,880 --> 00:17:25,680 Speaker 1: something that we're going to have to learn, and unfortunately, 317 00:17:25,760 --> 00:17:28,080 Speaker 1: we have a bunch of tools available to us, like 318 00:17:28,280 --> 00:17:30,800 Speaker 1: rapid testing and high quality mass and other things that 319 00:17:30,800 --> 00:17:34,320 Speaker 1: can help mitigate any variant that might come along, uh 320 00:17:34,480 --> 00:17:37,880 Speaker 1: if it spreads. And to that point, we got the 321 00:17:38,000 --> 00:17:42,200 Speaker 1: rollout of the new free at home testing website from 322 00:17:42,200 --> 00:17:46,480 Speaker 1: the Postal Service yesterday, and we're also hearing this morning 323 00:17:46,480 --> 00:17:48,400 Speaker 1: that the White House is going to announce a plan 324 00:17:48,480 --> 00:17:52,040 Speaker 1: to make four hundred million and ninety five masks available 325 00:17:52,119 --> 00:17:56,639 Speaker 1: for free at pharmacies. What kind of impact could those 326 00:17:56,680 --> 00:18:00,119 Speaker 1: steps have. Well, I'm hoping this gives some people a 327 00:18:00,200 --> 00:18:01,960 Speaker 1: chance to sort of dip their toe in the water 328 00:18:02,160 --> 00:18:04,720 Speaker 1: with tools that they might not have used much, or 329 00:18:04,760 --> 00:18:07,160 Speaker 1: make them more available to people who really were motivated 330 00:18:07,200 --> 00:18:10,800 Speaker 1: but couldn't access them. It's not enough of these things 331 00:18:10,840 --> 00:18:14,560 Speaker 1: to really cover the need, but it certainly will give 332 00:18:14,600 --> 00:18:17,119 Speaker 1: people a chance to try these things and get some 333 00:18:17,200 --> 00:18:21,800 Speaker 1: comfort with them and prepare for any eventualities that might 334 00:18:21,800 --> 00:18:24,439 Speaker 1: come up. We're all hoping that we're seeing the beginning 335 00:18:24,440 --> 00:18:27,600 Speaker 1: of the end here, but it's still some risk that 336 00:18:27,640 --> 00:18:30,879 Speaker 1: we'll see more trouble in the future. We're just trying 337 00:18:30,920 --> 00:18:33,800 Speaker 1: to have tools in hand to manage what comes in 338 00:18:33,800 --> 00:18:36,320 Speaker 1: our last minute here, doctor, how much longer do you 339 00:18:36,359 --> 00:18:39,120 Speaker 1: think we're going to need to deploy these tools, these 340 00:18:39,160 --> 00:18:42,800 Speaker 1: public health measures that many of us, the majority of us, 341 00:18:42,840 --> 00:18:46,160 Speaker 1: I think, have been trying to put in place over 342 00:18:46,200 --> 00:18:50,840 Speaker 1: the last almost two years. Now, Well, I'm hoping that 343 00:18:51,440 --> 00:18:53,360 Speaker 1: within a few months we're going to have a lot 344 00:18:53,440 --> 00:18:56,280 Speaker 1: less of this widespread infection and then people can begin 345 00:18:56,480 --> 00:19:00,840 Speaker 1: really paying attention to local rates. And there are UH 346 00:19:00,920 --> 00:19:05,800 Speaker 1: susceptibility and the susceptibly people around them, and so I'm 347 00:19:05,800 --> 00:19:10,240 Speaker 1: hoping that we can begin much more targeted interventions. And 348 00:19:10,400 --> 00:19:13,479 Speaker 1: endemic phase doesn't mean it won't cause a lot of 349 00:19:13,880 --> 00:19:18,240 Speaker 1: UH death and illness. It just means that it will 350 00:19:18,280 --> 00:19:20,520 Speaker 1: become a more predictable pattern. I'm hoping that we can 351 00:19:20,600 --> 00:19:23,439 Speaker 1: use these tools to really lower that rate during endemic 352 00:19:23,440 --> 00:19:27,280 Speaker 1: phase two, low levels of complications for people just quickly. 353 00:19:27,280 --> 00:19:31,200 Speaker 1: Do you think it could happen this year with what 354 00:19:32,119 --> 00:19:35,600 Speaker 1: the return to an endemic phase or move to an 355 00:19:35,640 --> 00:19:38,600 Speaker 1: endemic phase at least, Well, I think it could become 356 00:19:38,680 --> 00:19:40,680 Speaker 1: more predictublar this year, but then we could have outbreaks. 357 00:19:40,680 --> 00:19:43,400 Speaker 1: It's like influenza at that point where a new genetic 358 00:19:43,560 --> 00:19:47,040 Speaker 1: change could cause disruption. All right, thanks as always, Dr 359 00:19:47,080 --> 00:19:50,080 Speaker 1: Stewart Ray the Johns Hopkins University School of Medicine with 360 00:19:50,240 --> 00:19:53,639 Speaker 1: us this morning, Stay with us. Just ahead on Bloomberg Daybreak, 361 00:19:53,640 --> 00:19:55,919 Speaker 1: We're going to get more on the market, sed bets 362 00:19:56,119 --> 00:19:58,800 Speaker 1: and airlines, grappling with the five G roll out as 363 00:19:58,800 --> 00:20:01,480 Speaker 1: we check the five things need to know to start 364 00:20:01,520 --> 00:20:09,080 Speaker 1: your day. This is Bloomberg and Bloomberg Daybreak is brought 365 00:20:09,080 --> 00:20:11,240 Speaker 1: to you by Audie. Don't let someone else drive off 366 00:20:11,240 --> 00:20:13,359 Speaker 1: in the outie model. You've always wanted to visit a 367 00:20:13,440 --> 00:20:16,719 Speaker 1: tri state autie dealer to get behind the wheel of yours. 368 00:20:17,160 --> 00:20:26,119 Speaker 1: Today broadcasting live from the Bloomberg Interactive Broker Studio in 369 00:20:26,160 --> 00:20:29,880 Speaker 1: New York, Bloomberg Eving Freed to Washington, d C, Bloomberg 370 00:20:30,880 --> 00:20:34,080 Speaker 1: to Boston, Bloomberg one on six one to San Francisco, 371 00:20:34,160 --> 00:20:37,880 Speaker 1: Bloomberg SIXT to the country, Sirius XM to one nine, 372 00:20:38,240 --> 00:20:41,400 Speaker 1: and around the globe the Bloomberg Business app and Bloomberg 373 00:20:41,480 --> 00:20:50,840 Speaker 1: Radio dot Com. This is Bloomberg Daybreak. It's six thirty 374 00:20:50,840 --> 00:20:53,360 Speaker 1: on Wall Street. Good morning. I'm Nathan Hager and I'm 375 00:20:53,400 --> 00:20:56,520 Speaker 1: Cameron Moscow. I've we're just about three hours away from 376 00:20:56,520 --> 00:20:59,119 Speaker 1: the open of US trading. Time for the five things 377 00:20:59,160 --> 00:21:01,600 Speaker 1: you need to notice start your day. Brought to you 378 00:21:01,640 --> 00:21:05,120 Speaker 1: by Interactive Broker's i v k R charges margin loan 379 00:21:05,280 --> 00:21:07,920 Speaker 1: rates from zero point seven five percent to one point 380 00:21:07,920 --> 00:21:10,880 Speaker 1: five nine percent rates subject to change. Learn more at 381 00:21:10,880 --> 00:21:14,600 Speaker 1: ib k r dot com slash compare Up. First, it's 382 00:21:14,640 --> 00:21:17,439 Speaker 1: all about the markets this morning. Stock future is falling 383 00:21:17,480 --> 00:21:20,800 Speaker 1: sharply overnight, but they're now rebounding. We get the latest 384 00:21:20,800 --> 00:21:23,520 Speaker 1: to live with the Bloomberg's John Tucker, John, Good Morning, 385 00:21:23,560 --> 00:21:26,240 Speaker 1: Good morning, Karen Bench. Where treasury yields look points to 386 00:21:26,359 --> 00:21:29,800 Speaker 1: surge past two percent, traders are petting the Federal Reserve 387 00:21:29,880 --> 00:21:33,359 Speaker 1: could go for a supersized rate hike in March. Higher 388 00:21:33,480 --> 00:21:37,160 Speaker 1: yields waging on stocks, especially tech stocks lately, but as 389 00:21:37,240 --> 00:21:40,679 Speaker 1: that down almost ten percent from its November high, that 390 00:21:40,760 --> 00:21:43,560 Speaker 1: would be a correction. Now, Investors still wondering if the 391 00:21:43,560 --> 00:21:46,359 Speaker 1: sell off has gone too far. Overnight then as a 392 00:21:46,520 --> 00:21:49,040 Speaker 1: futures fell as much as one percent and now they're 393 00:21:49,160 --> 00:21:52,560 Speaker 1: up eighteen points. Live in New York on John Tucker 394 00:21:52,800 --> 00:21:55,640 Speaker 1: Bloomberg Day Break and John. Investors will also be paying 395 00:21:55,640 --> 00:21:58,240 Speaker 1: close attention to bank earnings. Morgan Stanley and Bank of 396 00:21:58,280 --> 00:22:01,639 Speaker 1: America report before the opening bell after disappointing trading results 397 00:22:01,720 --> 00:22:05,159 Speaker 1: yesterday from Goldman Sachs. Looking to the skies now, Nathan, 398 00:22:05,200 --> 00:22:07,720 Speaker 1: the rollout of five G wireless service in the US 399 00:22:07,880 --> 00:22:10,800 Speaker 1: is disrupting airline flight schedules around the world. May get 400 00:22:10,840 --> 00:22:13,760 Speaker 1: the latest line from Bloomberg's Granda Young. Good Morning, Ready down, 401 00:22:13,760 --> 00:22:16,720 Speaker 1: Good Morning Care and airlines fear if five G services 402 00:22:16,720 --> 00:22:19,720 Speaker 1: are too close to airports they could interfere with key 403 00:22:19,800 --> 00:22:24,760 Speaker 1: safety systems, so they're adjusting schedules. British Airways has canceled 404 00:22:24,760 --> 00:22:28,000 Speaker 1: a handful of flights to the US. Dubai Zimmers is 405 00:22:28,040 --> 00:22:32,239 Speaker 1: suspending routes to several US cities, including Chicago, Newark, and 406 00:22:32,400 --> 00:22:36,480 Speaker 1: San Francisco, and Japanese carriers are also dropping routes and 407 00:22:36,520 --> 00:22:40,080 Speaker 1: will not fly some jets to and from the US mainland. 408 00:22:40,560 --> 00:22:43,680 Speaker 1: Live in New York, I'm Ranita Young, Bloomberg Daybreak, All Nita, 409 00:22:43,720 --> 00:22:45,960 Speaker 1: thanks the news out of Washington this morning. The Biden 410 00:22:45,960 --> 00:22:49,400 Speaker 1: administrations exploring ways to rein in the nation's biggest tech companies, 411 00:22:49,440 --> 00:22:53,320 Speaker 1: possibly through antitrust legislation. Bloomberg News has learned the White 412 00:22:53,320 --> 00:22:55,400 Speaker 1: House will meet this week with critics of big tech. 413 00:22:55,720 --> 00:22:57,600 Speaker 1: A bill in the Senate could limit the dominance of 414 00:22:57,640 --> 00:23:01,960 Speaker 1: companies like Google, Apple, Amazon, and Meta. And on Capitol Hill, 415 00:23:02,040 --> 00:23:05,439 Speaker 1: Nathan Senate, Denver. Senate Democrats are poised a hand President 416 00:23:05,480 --> 00:23:09,200 Speaker 1: Biden another defeat. Lawmakers have taken up voting rights legislation 417 00:23:09,240 --> 00:23:12,399 Speaker 1: that has very long odds. Republicans are opposed to the 418 00:23:12,440 --> 00:23:14,959 Speaker 1: measure and expected to block a final vote on it. 419 00:23:15,240 --> 00:23:17,200 Speaker 1: And that's the five things you need to know to 420 00:23:17,320 --> 00:23:21,119 Speaker 1: start your day, Brought to you by Interactive Brokers. Futures 421 00:23:21,160 --> 00:23:24,359 Speaker 1: this morning moving higher SMP Futures up five points down. 422 00:23:24,400 --> 00:23:26,480 Speaker 1: Future is up twenty eight, nas Day Future is up 423 00:23:26,480 --> 00:23:30,520 Speaker 1: twenty eight as well. And straight ahead your latest local 424 00:23:30,560 --> 00:23:34,280 Speaker 1: headlines plus the check of sports. And this is Bloomberg. 425 00:23:38,400 --> 00:23:40,040 Speaker 1: All right, Karen, thank you. At six thirty three on 426 00:23:40,080 --> 00:23:42,280 Speaker 1: Wall Street. We're thirty three degrees in Central Park now 427 00:23:42,359 --> 00:23:44,840 Speaker 1: dealing with a couple accidents on the southbound to Conic 428 00:23:44,920 --> 00:23:47,720 Speaker 1: the tails coming up in traffic first, Michael Barr. What 429 00:23:47,800 --> 00:23:49,760 Speaker 1: else is going on in New York and around the world. 430 00:23:49,920 --> 00:23:52,719 Speaker 1: Thank you very much. Nathan, a New York City police officer, 431 00:23:52,840 --> 00:23:55,280 Speaker 1: was injured in the Bronx last night while apprehending a 432 00:23:55,359 --> 00:23:58,520 Speaker 1: sixteen year old suspect with a gun. After a scuff hold, 433 00:23:58,520 --> 00:24:00,840 Speaker 1: the gun went off. Both the officer and the suspect 434 00:24:00,840 --> 00:24:03,720 Speaker 1: were shot in the leg and they will recover. Mayor 435 00:24:03,920 --> 00:24:06,920 Speaker 1: Eric Adams rushed to the hospital to thank police officers 436 00:24:06,960 --> 00:24:11,200 Speaker 1: for the arrest. Adams called for reforming laws involving gun crimes. 437 00:24:11,600 --> 00:24:16,840 Speaker 1: Anytime there's a gun involved, we have to look at 438 00:24:16,880 --> 00:24:20,520 Speaker 1: that in a serious fashion, and now we're not doing that. Meanwhile, 439 00:24:20,560 --> 00:24:24,320 Speaker 1: Mayor Adams would retain mayoral control of the city's schools 440 00:24:24,359 --> 00:24:27,840 Speaker 1: for four years in a budget proposal unveiled by Governor 441 00:24:27,920 --> 00:24:31,760 Speaker 1: Kathy Huco. If approved by the state legislature, the oversight 442 00:24:31,960 --> 00:24:35,720 Speaker 1: of city schools would strengthen a partnership between Hocol and 443 00:24:35,800 --> 00:24:38,880 Speaker 1: Adams in their early days in office. The House Committee 444 00:24:38,880 --> 00:24:42,320 Speaker 1: investigating the US Capitol ryan s of Peanut, Rudy Giuliani, 445 00:24:42,359 --> 00:24:45,840 Speaker 1: and other members of Donald Trump's legal team who filed 446 00:24:45,920 --> 00:24:50,120 Speaker 1: legal challenges to the election. The panel is demanding information 447 00:24:50,119 --> 00:24:54,359 Speaker 1: and testimony from Giuliani, Jenna Ellis, and Sidney Powell. The 448 00:24:54,359 --> 00:24:58,560 Speaker 1: New York Attorney General's Office says its civil investigation has 449 00:24:58,680 --> 00:25:03,320 Speaker 1: uncovered evidence that Memer President Trump's company used fraudulent or 450 00:25:03,440 --> 00:25:08,000 Speaker 1: misleading asset valuations to get loans and tax benefits and 451 00:25:08,040 --> 00:25:12,040 Speaker 1: accord filing last night, Attorney General Letitia James's office said 452 00:25:12,080 --> 00:25:17,080 Speaker 1: evidence show that the Trump organization routinely misrepresented the value 453 00:25:17,119 --> 00:25:21,359 Speaker 1: of its properties and golf clubs in financial statements. Later today, 454 00:25:21,440 --> 00:25:24,320 Speaker 1: Senate Democrats will try to vote on changing the filibuster 455 00:25:24,480 --> 00:25:28,080 Speaker 1: rule to pass two voting rights bills. The filibuster change 456 00:25:28,080 --> 00:25:31,120 Speaker 1: will almost certainly fail, but it's not stopping Senate Majority 457 00:25:31,200 --> 00:25:34,119 Speaker 1: Leader Chuck Schumer from forcing to vote on something as 458 00:25:34,160 --> 00:25:37,440 Speaker 1: important as voting rights. It Senate Republicans are going to 459 00:25:37,520 --> 00:25:39,560 Speaker 1: oppose it. They should not be allowed to sit in 460 00:25:39,600 --> 00:25:41,720 Speaker 1: their office. They got to come down on the floor 461 00:25:41,920 --> 00:25:45,760 Speaker 1: and defend their opposition. Republicans insist there is nothing to 462 00:25:45,840 --> 00:25:49,640 Speaker 1: fix to spite GOP states passing new voting laws. New 463 00:25:49,720 --> 00:25:52,720 Speaker 1: Jersey is now seeing a decline in COVID case rates 464 00:25:52,760 --> 00:25:56,760 Speaker 1: and te neck. They're seeing hospital hospitalizations drop during the 465 00:25:56,800 --> 00:25:59,760 Speaker 1: holiday season, The Holy Name Hospitals saw waves of sick 466 00:25:59,760 --> 00:26:04,560 Speaker 1: pay tions and staffing issues. New Yorker's flooded into online 467 00:26:04,600 --> 00:26:06,840 Speaker 1: sports betting in the first weekend, it was legal to 468 00:26:06,880 --> 00:26:09,560 Speaker 1: do so in the state. Official State Draft Kings Fan Duel, 469 00:26:09,960 --> 00:26:13,479 Speaker 1: Rushed Street Interactive, and Caesar's Sports Book took in one 470 00:26:13,520 --> 00:26:16,639 Speaker 1: hundred fifty million dollars in wagers since online sports betting 471 00:26:16,640 --> 00:26:20,639 Speaker 1: operations began in New York January eight. Global News twenty 472 00:26:20,640 --> 00:26:23,040 Speaker 1: four hours a day on air and on Bloomberg Quick 473 00:26:23,080 --> 00:26:25,120 Speaker 1: Take Power a Boy more than twenty seven under journalist 474 00:26:25,080 --> 00:26:27,640 Speaker 1: analysts more than a hundred twenty countries. I'm Michael Barr. 475 00:26:27,680 --> 00:26:35,200 Speaker 1: This is Bloomberg. Nathan. Okay, Michael, Thanks six thirty six 476 00:26:35,200 --> 00:26:37,080 Speaker 1: on Wall Street, time for the Bloomberg Sports Update with 477 00:26:37,160 --> 00:26:40,200 Speaker 1: John stoesshur all right, Nathan. Next. In Timberwolves at the Garden, 478 00:26:40,280 --> 00:26:43,439 Speaker 1: Aleck Berks took a three point shot. The ball was 479 00:26:43,640 --> 00:26:46,840 Speaker 1: in the air as the final buzzers sounded, It missed, 480 00:26:46,840 --> 00:26:49,640 Speaker 1: and Minnesota on a wild one one twelve to one 481 00:26:49,720 --> 00:26:51,760 Speaker 1: ten tea. Wolves were up by twelve in the first half. 482 00:26:51,840 --> 00:26:55,040 Speaker 1: Knicks then led by nine. Carl Anthony Town's three point 483 00:26:55,040 --> 00:26:57,159 Speaker 1: play with twenty nine seconds left to him to be 484 00:26:57,200 --> 00:26:59,520 Speaker 1: the game winner for Minnesota having four led the next 485 00:26:59,520 --> 00:27:02,480 Speaker 1: with twenties having points. Julius Randall had twenty one Kemba 486 00:27:02,520 --> 00:27:04,960 Speaker 1: Walker nineteen and his return from knee injury with this 487 00:27:05,000 --> 00:27:07,960 Speaker 1: homestand has started with two losses in two days. The 488 00:27:08,040 --> 00:27:11,320 Speaker 1: nixt are fact under five hundred Islanders and Flyers captain 489 00:27:11,400 --> 00:27:13,120 Speaker 1: home at home in Philly. The game was tied at 490 00:27:13,119 --> 00:27:16,040 Speaker 1: one and then two and then three at CAZy Kaziks, 491 00:27:16,200 --> 00:27:18,600 Speaker 1: tying goal for the Isles with four happenutes left. They 492 00:27:18,600 --> 00:27:21,720 Speaker 1: went to overtime and then the shootout where neither team 493 00:27:21,760 --> 00:27:26,040 Speaker 1: can score. Seventeen consecutive misses and that I drowned, it 494 00:27:26,119 --> 00:27:30,639 Speaker 1: was time for the Islanders. Oliver Walstroma Carter hustals it 495 00:27:30,680 --> 00:27:38,639 Speaker 1: down the winner in the final of the ninth and 496 00:27:38,760 --> 00:27:41,800 Speaker 1: the Islanders beat the Flyers by the final score to 497 00:27:42,080 --> 00:27:46,080 Speaker 1: four to three. King w e pn Isisles have now 498 00:27:46,160 --> 00:27:48,359 Speaker 1: won five or six to reach five hundred. Flyers have 499 00:27:48,440 --> 00:27:50,480 Speaker 1: lost nine in a row. Rangers first home game in 500 00:27:50,560 --> 00:27:54,360 Speaker 1: over two weeks tonight against Toronto Australian Open second round 501 00:27:54,400 --> 00:27:57,679 Speaker 1: victories for Raphael, the dal Ash Party Naomi Osaka, all 502 00:27:57,720 --> 00:28:00,159 Speaker 1: on straight sets. Giants will be gonna set and a 503 00:28:00,200 --> 00:28:03,080 Speaker 1: round of interviews for their Gentle Manager's job. These being 504 00:28:03,119 --> 00:28:07,000 Speaker 1: conducted in person on first Yesterday Buffalo assistant to M 505 00:28:07,080 --> 00:28:10,840 Speaker 1: Joe shown. John's facially were Bloomberg Sports. Nathan, all right, John, 506 00:28:10,880 --> 00:28:12,760 Speaker 1: thank you. It is six thirty seven on Wall Street. 507 00:28:12,800 --> 00:28:14,439 Speaker 1: Time to take a look at stocks and some of 508 00:28:14,480 --> 00:28:16,720 Speaker 1: the names moving in the pre market now with Bloomberg 509 00:28:16,760 --> 00:28:20,080 Speaker 1: Radio on TV Markets correspondent Creety gooped up. Creaty. We've 510 00:28:20,080 --> 00:28:23,080 Speaker 1: been so focused this morning getting ready for bank earnings, 511 00:28:23,160 --> 00:28:25,760 Speaker 1: but there is still a lot of movement for Activision 512 00:28:25,840 --> 00:28:30,200 Speaker 1: after that Microsoft buyout news. There absolutely as you're seeing Activision, 513 00:28:30,240 --> 00:28:32,280 Speaker 1: of course up three tenths of a percent, no match 514 00:28:32,320 --> 00:28:35,000 Speaker 1: to what you saw yesterday with of course over rise, 515 00:28:35,280 --> 00:28:37,679 Speaker 1: but important to keep in mind that Microsoft is coming 516 00:28:37,680 --> 00:28:40,400 Speaker 1: back with a little bit of gains here M S 517 00:28:40,480 --> 00:28:42,360 Speaker 1: F T S your ticker, They're up six tenths of 518 00:28:42,360 --> 00:28:45,080 Speaker 1: a percent this morning, largely hailed as a pretty good 519 00:28:45,080 --> 00:28:47,400 Speaker 1: move when you look at what the analyst calls are 520 00:28:47,560 --> 00:28:49,960 Speaker 1: really helping them step into the gaming world. Activision a 521 00:28:50,040 --> 00:28:52,320 Speaker 1: TV I, like I said, is the ticker up three 522 00:28:52,320 --> 00:28:54,600 Speaker 1: tenths of a percent, Nathan, But this morning story is 523 00:28:54,680 --> 00:28:57,400 Speaker 1: also to your point, going to be about those bank earnings, 524 00:28:57,600 --> 00:28:59,880 Speaker 1: a lot of them seeing some heavy volume, but actually 525 00:29:00,040 --> 00:29:02,160 Speaker 1: at right now, which tells you that there's a little 526 00:29:02,200 --> 00:29:04,480 Speaker 1: bit of a tug of war ahead of some of 527 00:29:04,480 --> 00:29:06,400 Speaker 1: these numbers. Bank of America is the one that comes 528 00:29:06,400 --> 00:29:08,480 Speaker 1: to mind. B A. C. S the taker. Those shoes 529 00:29:08,480 --> 00:29:10,760 Speaker 1: about flat right now. They were higher in the pre 530 00:29:10,840 --> 00:29:13,800 Speaker 1: market earlier. You also have Morgan Stanley due to report 531 00:29:13,840 --> 00:29:16,520 Speaker 1: about up about five tenths of a percent. M S 532 00:29:16,680 --> 00:29:19,360 Speaker 1: is your ticker, and of course JP Morgan is also 533 00:29:19,480 --> 00:29:21,840 Speaker 1: flat in the pre market, once again seeing some heavy volume, 534 00:29:21,920 --> 00:29:25,200 Speaker 1: though this coming after they raised their pay for junior 535 00:29:25,240 --> 00:29:27,800 Speaker 1: bankers once again. Year. In the last two pay raises, 536 00:29:27,800 --> 00:29:30,440 Speaker 1: they would have gotten a forty percent raise. Nathan really 537 00:29:30,480 --> 00:29:34,400 Speaker 1: regretting not going into bank right now. Ah so sad, Well, 538 00:29:34,560 --> 00:29:38,880 Speaker 1: we've already gotten some earnings outside of financials just this 539 00:29:38,920 --> 00:29:42,400 Speaker 1: morning we have it is you know, all the focus 540 00:29:42,520 --> 00:29:43,560 Speaker 1: is going to be on those banks, but you do 541 00:29:43,600 --> 00:29:46,200 Speaker 1: have plenty of other earnings outside of banks. To your point, 542 00:29:46,280 --> 00:29:48,000 Speaker 1: United Health is the one that caught my eye. U 543 00:29:48,120 --> 00:29:50,200 Speaker 1: n H the ticker up four tenths of a percent 544 00:29:50,480 --> 00:29:53,680 Speaker 1: after beating analysts estimates for its fourth quarter earnings and 545 00:29:53,760 --> 00:29:57,800 Speaker 1: affirmed its two profit outlook. As the US health conglomerates 546 00:29:57,800 --> 00:30:01,800 Speaker 1: saw broad based growth across this insurance and services businesses. 547 00:30:01,880 --> 00:30:04,600 Speaker 1: That being said, you also got some analysts action this morning, 548 00:30:04,640 --> 00:30:08,240 Speaker 1: Cisco Systems c s c O down two percent, getting 549 00:30:08,280 --> 00:30:11,160 Speaker 1: downgraded to neutral from a by over at Goldman as 550 00:30:11,200 --> 00:30:13,920 Speaker 1: its stock approaches its price target, saying that the tail 551 00:30:13,920 --> 00:30:16,920 Speaker 1: winds and the headwinds are now balanced that of course 552 00:30:17,120 --> 00:30:19,880 Speaker 1: they are preferring Dell in terms of what their new 553 00:30:20,400 --> 00:30:23,560 Speaker 1: long term tech pick is. But nevertheless, c s c 554 00:30:23,760 --> 00:30:26,440 Speaker 1: O down two percent. I'm gonna end here with Netflix 555 00:30:26,480 --> 00:30:28,840 Speaker 1: and f l X down two tons of a percent 556 00:30:29,280 --> 00:30:31,520 Speaker 1: after the price hike in the United States and Canada 557 00:30:31,560 --> 00:30:35,320 Speaker 1: announced last week was larger than expected and applies only 558 00:30:35,360 --> 00:30:38,240 Speaker 1: a one percent lift to the revenue forecast at according 559 00:30:38,400 --> 00:30:41,000 Speaker 1: to Key Bank. Nevertheless, down two tons of a percent 560 00:30:41,080 --> 00:30:43,240 Speaker 1: right then. Now we're looking forward to Netflix earnings later 561 00:30:43,240 --> 00:30:45,480 Speaker 1: on this week as well. Bloomberg Radio and TV Markets 562 00:30:45,520 --> 00:30:49,240 Speaker 1: correspondent Creedy Gupta thank you for the update, and as 563 00:30:49,280 --> 00:30:51,040 Speaker 1: we take a look at stocks as a whole ahead 564 00:30:51,040 --> 00:30:53,560 Speaker 1: of the open, future is moving a bit higher after 565 00:30:53,640 --> 00:30:56,880 Speaker 1: yesterday's losses. Right now, SMP futures are up seven points, 566 00:30:56,880 --> 00:30:59,600 Speaker 1: now futures up thirty six and NASTACK futures are higher 567 00:30:59,640 --> 00:31:02,520 Speaker 1: by four one point ten. Your treasury is down to 568 00:31:02,720 --> 00:31:05,200 Speaker 1: thirty seconds down with the yield one point eight percent. 569 00:31:05,280 --> 00:31:08,760 Speaker 1: The yield on the two year one point zero five percent. 570 00:31:09,160 --> 00:31:12,600 Speaker 1: President Biden gets ready to wrap up year one, will 571 00:31:12,640 --> 00:31:16,800 Speaker 1: look ahead to his afternoon news conference with Bloomberg Government's 572 00:31:16,840 --> 00:31:23,480 Speaker 1: Emily Wilkins. Next, this is Bloomberg Bloomberg eleven three oh 573 00:31:23,520 --> 00:31:25,120 Speaker 1: weather a mix of sun and clouds and highs in 574 00:31:25,160 --> 00:31:29,040 Speaker 1: the mid forties today, overnight wintry mess temperatures will fall 575 00:31:29,120 --> 00:31:31,560 Speaker 1: through tomorrow. By Friday will have highs only in the 576 00:31:31,560 --> 00:31:39,040 Speaker 1: low twenties. Currently thirty three degrees. Markets, headlines and breaking 577 00:31:39,040 --> 00:31:41,960 Speaker 1: news twenty four hours a day at Bloomberg dot com, 578 00:31:42,000 --> 00:31:45,680 Speaker 1: blo Bloomberg Business Out and at Bloomberg Quicktape. He's a 579 00:31:45,720 --> 00:31:55,760 Speaker 1: Bloomberg Business Flash. Hey, good morning, I'm kared Moscow. Futures 580 00:31:55,760 --> 00:31:57,680 Speaker 1: are higher this morning, and we go to the first 581 00:31:57,680 --> 00:32:00,120 Speaker 1: word breaking news. Dask for today's morning call. Here is 582 00:32:00,160 --> 00:32:04,080 Speaker 1: Bell Maloney, Bill, good ring, and good morning Karen. That's right, 583 00:32:04,120 --> 00:32:06,680 Speaker 1: US futures are trying to stabilize here at Dow Future 584 00:32:06,720 --> 00:32:09,320 Speaker 1: is currently hired by eight thirty eight points. Subs gain 585 00:32:09,400 --> 00:32:11,240 Speaker 1: eight and a half. Well, then as the futures are 586 00:32:11,320 --> 00:32:14,360 Speaker 1: higher by fifty the US ten yeal at one point 587 00:32:14,360 --> 00:32:17,120 Speaker 1: eight eight percent, Gold is up five Oil trading higher, 588 00:32:17,280 --> 00:32:20,840 Speaker 1: but bitcoin is down by one percent. Japan fell two 589 00:32:20,880 --> 00:32:23,520 Speaker 1: point eight percent overnight, while European markets are mostly in 590 00:32:23,560 --> 00:32:26,600 Speaker 1: the green this morning. But note that Britain's inflation rate 591 00:32:26,600 --> 00:32:31,120 Speaker 1: has jumped to its highest level since back in the US. 592 00:32:31,200 --> 00:32:34,880 Speaker 1: On the economic Frinday, thirty December, housing starts and building permits. 593 00:32:35,240 --> 00:32:38,200 Speaker 1: Regarding earnings, this morning, un h BT estimates Bank for 594 00:32:38,240 --> 00:32:40,640 Speaker 1: America Q four training Your Revenue x d v A 595 00:32:40,800 --> 00:32:43,760 Speaker 1: did miss estimates and look for Morgan Stanley to report 596 00:32:43,800 --> 00:32:47,360 Speaker 1: around seven thirty. In other news, so FI sword pre 597 00:32:47,440 --> 00:32:50,800 Speaker 1: market after it was granted conditional approval to become a 598 00:32:50,880 --> 00:32:53,720 Speaker 1: U S bank, and Ford expects to report and eight 599 00:32:53,720 --> 00:32:56,760 Speaker 1: point two billion dollar gain in the fourth quarter on 600 00:32:56,840 --> 00:32:59,920 Speaker 1: its investment in Ribban. Wrapping things up at AM, IWA 601 00:33:00,120 --> 00:33:02,840 Speaker 1: raised overweight to key Bank, LI Financial cut neutral at 602 00:33:02,880 --> 00:33:06,360 Speaker 1: JP Morgan and Excellent was raised to sector perform over 603 00:33:06,400 --> 00:33:10,080 Speaker 1: at RBC Live from the first breaking news discom Bill 604 00:33:10,120 --> 00:33:12,240 Speaker 1: Maloney Camp all right, Bill, thank you, and yeah, we're 605 00:33:12,240 --> 00:33:14,920 Speaker 1: watching those Bank of America shares this morning, down more 606 00:33:14,960 --> 00:33:18,040 Speaker 1: than four percent in early trading, and your live breaking 607 00:33:18,040 --> 00:33:20,400 Speaker 1: news of your Bloomberg have squalk on your termin I'll 608 00:33:20,400 --> 00:33:23,160 Speaker 1: ascue you a w K. That's a Bloomberg business flash. 609 00:33:23,160 --> 00:33:25,200 Speaker 1: Now here's Michael bar with Moore on what's going on 610 00:33:25,280 --> 00:33:28,040 Speaker 1: around the world. Michael Karen, thank you very much. Rudy 611 00:33:28,080 --> 00:33:31,800 Speaker 1: Giuliani and two other lawyers who helped former President Jonald 612 00:33:31,880 --> 00:33:35,920 Speaker 1: Trump advanced claims of fraud in the election have beens 613 00:33:36,040 --> 00:33:39,160 Speaker 1: peen up by the House committee investigating the January six 614 00:33:39,360 --> 00:33:43,560 Speaker 1: riot at the US Capitol. Along with Giuliani, Sydney Powell 615 00:33:43,640 --> 00:33:46,120 Speaker 1: and Jenna Ellis were part of a legal team that 616 00:33:46,240 --> 00:33:50,200 Speaker 1: spearheaded an attempt to overturn the election of results. Airlines 617 00:33:50,280 --> 00:33:53,640 Speaker 1: around the world are adjusting their schedules and aircraft deployments 618 00:33:53,680 --> 00:33:57,160 Speaker 1: for flights to the US over fears that a five 619 00:33:57,280 --> 00:34:00,080 Speaker 1: G rollout by a T and T and varions and 620 00:34:00,360 --> 00:34:04,040 Speaker 1: near American airports can interfere with key safety systems in 621 00:34:04,080 --> 00:34:07,520 Speaker 1: the NBA. The next loss the Warriors won in the NHL, 622 00:34:07,600 --> 00:34:10,359 Speaker 1: the Islanders want in a shootout against the Flyers, four 623 00:34:10,440 --> 00:34:14,040 Speaker 1: or three the Capitol's one. The Bruins lost. Global News 624 00:34:14,120 --> 00:34:17,040 Speaker 1: twenty four hours a day on air and on Bloomberg 625 00:34:17,120 --> 00:34:19,840 Speaker 1: Quick Take powered by more than twenty seven d journalist 626 00:34:19,880 --> 00:34:23,120 Speaker 1: and analysts in more than a hundred twenty countries. Michael Vard, 627 00:34:23,160 --> 00:34:25,600 Speaker 1: this is Bloomberg. Heret all right, Michael, thank you at 628 00:34:25,600 --> 00:34:27,680 Speaker 1: a six nine on Wall Street, and we turned to 629 00:34:27,719 --> 00:34:30,719 Speaker 1: news and science and technology. Now but the Bloomberg n 630 00:34:30,760 --> 00:34:33,360 Speaker 1: j I T STEM report, it is brought to you 631 00:34:33,440 --> 00:34:36,440 Speaker 1: buy New Jersey Institute of Technology, which announced that renowned 632 00:34:36,440 --> 00:34:39,440 Speaker 1: scholar and educational leader Dr Tech Limb will join the 633 00:34:39,520 --> 00:34:41,840 Speaker 1: university at n j I T S n j I 634 00:34:41,960 --> 00:34:44,520 Speaker 1: T S ninth President. Learn more at n j I 635 00:34:44,640 --> 00:34:47,320 Speaker 1: T DOT E d U. Now here's just making news 636 00:34:47,320 --> 00:34:51,600 Speaker 1: in science, Technology, engineering and math. The European Space Agency 637 00:34:51,640 --> 00:34:54,879 Speaker 1: has narrowed the candidate list for its next generation of astronauts, 638 00:34:54,920 --> 00:34:59,120 Speaker 1: including dozens who have a physical disability. The agency announced 639 00:34:59,200 --> 00:35:02,359 Speaker 1: last year that it receive more than twenty two applications. 640 00:35:02,600 --> 00:35:05,160 Speaker 1: The agency says it has reduced the east of fewer 641 00:35:05,200 --> 00:35:07,840 Speaker 1: than fourteen hundred. In the end, it'll have four to 642 00:35:07,920 --> 00:35:11,800 Speaker 1: six positions on its astronaut training program. British Prime Minister 643 00:35:11,800 --> 00:35:14,960 Speaker 1: Boris Johnson reportedly will announced the lifting of COVID restrictions 644 00:35:14,960 --> 00:35:17,719 Speaker 1: in England today as according to the Financial Times, the 645 00:35:17,719 --> 00:35:20,640 Speaker 1: paper says that work from home guidance and the use 646 00:35:20,640 --> 00:35:24,360 Speaker 1: of COVID passes are expected to end. Meanwhile, the Cabinet 647 00:35:24,440 --> 00:35:26,640 Speaker 1: is set to consider the role of face masks in 648 00:35:26,680 --> 00:35:30,880 Speaker 1: public places. And Visor CEO Albert Borla has been awarded 649 00:35:30,920 --> 00:35:33,320 Speaker 1: the Genesis Prize for his efforts in leading the development 650 00:35:33,360 --> 00:35:36,520 Speaker 1: of a COVID nineteen vaccine. The one million dollar award 651 00:35:36,640 --> 00:35:39,560 Speaker 1: as granted each year to a person for their professional achievements, 652 00:35:39,640 --> 00:35:43,440 Speaker 1: contributions to humanity and commitment to Jewish values. Borla, the 653 00:35:43,520 --> 00:35:46,080 Speaker 1: son of Holocaust survivors, plans to donate his prize to 654 00:35:46,120 --> 00:35:49,719 Speaker 1: projects aimed at preserving the memory of Holocaust victims and 655 00:35:49,760 --> 00:35:52,160 Speaker 1: as a Bloomberg and J. I. T. S Stem report. 656 00:35:52,239 --> 00:35:54,320 Speaker 1: Nathan all right, Karen, thank you. We're lying from the 657 00:35:54,360 --> 00:35:57,000 Speaker 1: Bloomberg Interactive Brokers studios where at six fifty one on 658 00:35:57,040 --> 00:35:59,680 Speaker 1: Wall Street as we continue to watch earnings headlines from 659 00:35:59,719 --> 00:36:02,759 Speaker 1: Bank America across the Bloomberg terminal. We're joined now by 660 00:36:02,760 --> 00:36:07,480 Speaker 1: Bloomberg Intelligence senior analysts for global investment banks, Alison Williams. Allison, 661 00:36:07,520 --> 00:36:09,840 Speaker 1: good morning. Is I take a quick look at these earnings. 662 00:36:09,880 --> 00:36:12,000 Speaker 1: We did get a beat on earnings per share, but 663 00:36:12,040 --> 00:36:14,640 Speaker 1: it looks like traders this morning our focused on the 664 00:36:14,680 --> 00:36:19,239 Speaker 1: big miss on trading revenue. Well, it looks to me 665 00:36:19,360 --> 00:36:23,960 Speaker 1: like they're they're trading did okay, and actually they're fixed 666 00:36:23,960 --> 00:36:29,480 Speaker 1: income trading outperformed UM what we've seen at some others, 667 00:36:29,560 --> 00:36:32,359 Speaker 1: So I think that's a positive. But for for Bank 668 00:36:32,440 --> 00:36:35,399 Speaker 1: of America, really the most important things, well, the two 669 00:36:35,440 --> 00:36:41,239 Speaker 1: most important things are UM loan growth and expensive because expensive, 670 00:36:41,239 --> 00:36:42,839 Speaker 1: because I think those are the things that we were 671 00:36:42,880 --> 00:36:46,120 Speaker 1: looking for in this quarter. We did see a pickup 672 00:36:46,120 --> 00:36:49,280 Speaker 1: in loan growth, so that's very good. We're looking for 673 00:36:49,880 --> 00:36:53,799 Speaker 1: net interest income to improve, as our most investors this year, 674 00:36:53,800 --> 00:36:56,800 Speaker 1: and so that's important, net interest income coming in a 675 00:36:56,840 --> 00:36:59,720 Speaker 1: little bit better. And then on the expense side of things, 676 00:36:59,800 --> 00:37:01,960 Speaker 1: with which I think is really the story of the season. 677 00:37:02,120 --> 00:37:07,000 Speaker 1: Earning season UM, they're guiding to expenses that look about 678 00:37:07,080 --> 00:37:10,800 Speaker 1: similar to this year. So that's a little bit higher 679 00:37:10,800 --> 00:37:16,040 Speaker 1: than consensus expected UM, but certainly not to the degree 680 00:37:16,040 --> 00:37:18,399 Speaker 1: that we saw JP Morgan. And as I look at 681 00:37:18,400 --> 00:37:21,000 Speaker 1: the shares this morning, I think they had dropped as 682 00:37:21,040 --> 00:37:24,000 Speaker 1: low as four point three percent in early trading. Now 683 00:37:24,080 --> 00:37:27,600 Speaker 1: giving back some of those losses down about two starting 684 00:37:27,600 --> 00:37:30,680 Speaker 1: to climb back up from there. When it comes to 685 00:37:31,560 --> 00:37:35,000 Speaker 1: expenses and loan growth, Allison, what are you seeing from 686 00:37:35,080 --> 00:37:39,239 Speaker 1: these numbers? What's the outlook for Bank of America? I 687 00:37:39,280 --> 00:37:42,719 Speaker 1: think you know that the the outlook is similar to 688 00:37:42,760 --> 00:37:47,600 Speaker 1: the outlook for economic growth. So in general, they're benefiting 689 00:37:47,880 --> 00:37:52,040 Speaker 1: from healthy consumers, they're benefiting from healthy businesses. The fact 690 00:37:52,080 --> 00:37:55,200 Speaker 1: that we are seeing a little bit more borrowing is better. 691 00:37:55,920 --> 00:37:59,239 Speaker 1: Um So in general, I think things are coming sort 692 00:37:59,280 --> 00:38:02,120 Speaker 1: of sort of in line with what investors may have hoped. 693 00:38:02,600 --> 00:38:05,400 Speaker 1: Um As I said, the big story this earning season 694 00:38:05,480 --> 00:38:08,880 Speaker 1: has been expenses, and that's because we've already gotten a 695 00:38:08,920 --> 00:38:11,839 Speaker 1: lot of these you know, clues to the better revenue sides. 696 00:38:11,840 --> 00:38:14,520 Speaker 1: So we've already seen in the industry data loans improving. 697 00:38:14,960 --> 00:38:17,640 Speaker 1: We've already um looked to the rates market. We see 698 00:38:17,680 --> 00:38:20,799 Speaker 1: that interest rates are expected to go up. Expenses were 699 00:38:20,800 --> 00:38:23,200 Speaker 1: sort of a big question, and I think you know, 700 00:38:23,320 --> 00:38:28,520 Speaker 1: for for banks, the expectation is that, you know, or 701 00:38:28,760 --> 00:38:31,200 Speaker 1: the hope is that they're going to show operating leverage, 702 00:38:31,200 --> 00:38:33,800 Speaker 1: which means that their revenue growth is going to outpace 703 00:38:33,840 --> 00:38:36,840 Speaker 1: their expense growth. Bank of America is in a solid 704 00:38:36,840 --> 00:38:39,839 Speaker 1: position for this because they are getting help from interest rates. 705 00:38:39,840 --> 00:38:42,480 Speaker 1: They're more interest rate sensitive, which means they benefit more 706 00:38:42,560 --> 00:38:46,479 Speaker 1: from that increase. Loan growth is really going to add 707 00:38:46,560 --> 00:38:49,440 Speaker 1: fuel to that um. And then if they're able to 708 00:38:49,520 --> 00:38:53,000 Speaker 1: keep expenses a little bit stable. Their expenses were a 709 00:38:53,000 --> 00:38:56,160 Speaker 1: little bit bloated last year, so it's not you know, 710 00:38:56,320 --> 00:39:00,120 Speaker 1: the I think earlier that earlier in we might of 711 00:39:00,160 --> 00:39:04,480 Speaker 1: hope that expenses came down in but but again flat 712 00:39:04,560 --> 00:39:07,520 Speaker 1: is nowhere near the increase that we're seeing. I suppose 713 00:39:07,560 --> 00:39:11,120 Speaker 1: the question is, you know, are they able to spend 714 00:39:11,360 --> 00:39:14,360 Speaker 1: on investments the way that some of these other investment 715 00:39:14,400 --> 00:39:17,560 Speaker 1: banks are. Keep in mind that trading and fees are 716 00:39:17,640 --> 00:39:20,439 Speaker 1: also part of their earnings outlook, but it's a much 717 00:39:20,560 --> 00:39:23,759 Speaker 1: smaller part. And how are they competing on that front 718 00:39:23,800 --> 00:39:27,200 Speaker 1: for talent? All Right, Bloomberg Intelligency ranallist Allison Williams will 719 00:39:27,239 --> 00:39:29,640 Speaker 1: let you get back to watching those headlines cross from 720 00:39:29,640 --> 00:39:32,240 Speaker 1: Bank of America. The shares now down about one point 721 00:39:32,360 --> 00:39:35,440 Speaker 1: six percent in early trading, and of course Morgan Stanley 722 00:39:35,480 --> 00:39:38,040 Speaker 1: will wrap up bank earnings. Their results do out in 723 00:39:38,080 --> 00:39:40,239 Speaker 1: a little bit more than a half hour. We're gonna 724 00:39:40,239 --> 00:39:42,600 Speaker 1: have full coverage for you here throughout the day on 725 00:39:42,640 --> 00:39:44,879 Speaker 1: Bloomberg Radio. We want to turn out to what's going 726 00:39:44,920 --> 00:39:47,200 Speaker 1: on in DC, where some of the top stories include 727 00:39:47,200 --> 00:39:49,560 Speaker 1: President Biden rounding out his first year at office with 728 00:39:49,640 --> 00:39:53,160 Speaker 1: a formal news conference and Senate Democrats headed toward defeat 729 00:39:53,200 --> 00:39:56,280 Speaker 1: on voting rights legislation. Let's bring in Bloomberg Government reporter 730 00:39:56,320 --> 00:40:00,880 Speaker 1: Emily Wilkins in our studios in Washington, d see ahead 731 00:40:00,880 --> 00:40:04,680 Speaker 1: of this four pm Wall Street Time news conference. Emily 732 00:40:04,760 --> 00:40:08,279 Speaker 1: could be a pivotal moment for President Biden. It could 733 00:40:08,360 --> 00:40:11,240 Speaker 1: be he needs a pivotal moment right now. His ratings 734 00:40:11,280 --> 00:40:14,160 Speaker 1: are at a low for his presidency. He has faced 735 00:40:14,400 --> 00:40:17,959 Speaker 1: a lot of struggles within his last year, particularly within 736 00:40:18,000 --> 00:40:20,840 Speaker 1: the last six months. And Nathan, this is the first 737 00:40:20,840 --> 00:40:24,920 Speaker 1: press conference formally that Biden has given in about ten months, 738 00:40:24,960 --> 00:40:27,759 Speaker 1: so he's very much overdue for one. The goal for 739 00:40:27,880 --> 00:40:31,200 Speaker 1: Biden today is to try to, as we heard yesterday 740 00:40:31,239 --> 00:40:34,279 Speaker 1: from White House Press Secretary Jensaki, for him to take 741 00:40:34,320 --> 00:40:37,040 Speaker 1: a step back and kind of re evaluate the progress 742 00:40:37,239 --> 00:40:40,520 Speaker 1: of his last year. I mean, certainly he can point 743 00:40:40,560 --> 00:40:44,160 Speaker 1: to victories such as the bipartisan infrastructure bill that was 744 00:40:44,200 --> 00:40:47,800 Speaker 1: passed as well as you know, starting the vaccine rollout. 745 00:40:48,040 --> 00:40:50,800 Speaker 1: But he's been criticized lately on a number of fronts, 746 00:40:50,840 --> 00:40:53,719 Speaker 1: including with the pandemic for being caught flat footed for 747 00:40:53,760 --> 00:40:56,640 Speaker 1: not having the number of tests that Americans needed over 748 00:40:56,680 --> 00:41:00,400 Speaker 1: the holidays. Um. Only now is his administrations starting to 749 00:41:00,600 --> 00:41:05,359 Speaker 1: get masks out his plan, the social policy and tax plan, 750 00:41:05,480 --> 00:41:08,240 Speaker 1: the so called build back Better that seems to be stalled. 751 00:41:08,560 --> 00:41:11,840 Speaker 1: And today we're going to see the voting rights effort 752 00:41:12,200 --> 00:41:14,719 Speaker 1: UH in the Senate. UH that is also going to 753 00:41:14,760 --> 00:41:17,239 Speaker 1: go be going down this week because they don't have 754 00:41:17,280 --> 00:41:20,040 Speaker 1: the votes to change Senate rules. Yeah, and this is 755 00:41:20,080 --> 00:41:22,920 Speaker 1: something that looks like it could be yet another setback 756 00:41:23,000 --> 00:41:26,080 Speaker 1: for President Biden politically. But there's been some talk, I 757 00:41:26,120 --> 00:41:29,399 Speaker 1: think in the Senate emily about changing the filibuster rule, 758 00:41:29,480 --> 00:41:32,799 Speaker 1: maybe making it a talking filibuster for voting rights. Could 759 00:41:32,800 --> 00:41:35,719 Speaker 1: that go somewhere in our last thirty seconds here? It 760 00:41:35,800 --> 00:41:39,359 Speaker 1: doesn't look like at Senator Kristen Sinema basically xenate out 761 00:41:39,440 --> 00:41:42,680 Speaker 1: anything like that. There's definitely been some discussion. It seems 762 00:41:42,719 --> 00:41:45,200 Speaker 1: like it seems like a potential option at one point, 763 00:41:45,840 --> 00:41:48,680 Speaker 1: but Senator Kristen Sinema has said she's not open to it, 764 00:41:48,760 --> 00:41:51,920 Speaker 1: and and they need all fifty Yeah, alright. Boomberg Government 765 00:41:51,920 --> 00:41:54,880 Speaker 1: reporter Emily Wilkins with us this morning from Washington, d C. 766 00:41:55,080 --> 00:41:58,520 Speaker 1: Ahead of that formal news conference to round out President 767 00:41:58,600 --> 00:42:01,800 Speaker 1: Biden's first year in off. It's scheduled for four pm 768 00:42:01,800 --> 00:42:04,239 Speaker 1: Wall Street Time from the White House. We will bring 769 00:42:04,239 --> 00:42:07,680 Speaker 1: it to you live here on Bloomberg Radio. So we 770 00:42:07,719 --> 00:42:10,400 Speaker 1: continue to watch. Shares of Bank of America in the 771 00:42:10,440 --> 00:42:13,719 Speaker 1: pre market there down one point eight percent with a 772 00:42:13,840 --> 00:42:17,040 Speaker 1: miss on fourth quarter trading revenue, while earnings per shared 773 00:42:17,080 --> 00:42:20,200 Speaker 1: did come in above Wall Street analyst estimates. And we're 774 00:42:20,200 --> 00:42:23,040 Speaker 1: gonna hear from Morgan Stanley uh, the last of the 775 00:42:23,040 --> 00:42:25,520 Speaker 1: big six Wall Street banks to report earnings. Those are 776 00:42:25,600 --> 00:42:28,000 Speaker 1: due out at seven thirty Wall Street Times, just about 777 00:42:28,040 --> 00:42:29,919 Speaker 1: a half hour from now. So keep it right here 778 00:42:30,280 --> 00:42:34,160 Speaker 1: on Bloomberg Radio for more coverage from Bloomberg Surveillance up 779 00:42:34,200 --> 00:42:37,759 Speaker 1: next to Tom Keene, Jonathan Farrell, and Lisa Bramway's ahead 780 00:42:37,760 --> 00:42:40,360 Speaker 1: of that, SMP futures are up ten points, DAL futures 781 00:42:40,440 --> 00:42:43,320 Speaker 1: up fifty one, and Nastack futures are higher by fifty 782 00:42:43,440 --> 00:42:48,080 Speaker 1: seven points. For Karen Moscow, I'm Nathan Hager, This is Bloomberg,