Speaker 1: My from the Bloomberg Interactive Brooker Studios is a Bloomberg
Speaker 1: day Break for Wednesday, January nineteen two. Coming up this hour,
Speaker 1: stocks Paris sell off in the wake of a surge
Speaker 1: in Treasury years, Bank of America and Morgan Stanley prepared
Speaker 1: to a quarterings. The five G Rollout disrupts flights around
Speaker 1: the world, and the White House looks to reign in
Speaker 1: the nation's biggest tech companies. Rudy Giuliani is among other
Speaker 1: Trump lawyers subpoena and in the Capitol ryot pro plus
Speaker 1: COVID cases are falling in New Jersey. I'm Michael lar More, Ah,
Speaker 1: I'm John stash Our in Sports, second Day to Row
Speaker 1: and Nick's Home Last Minnesota one by two the Islanders
Speaker 1: one in a studo That's all straight ahead on Bloomberg
Speaker 1: day Break on Bloomberg Element Trio, New York, Bloomberg nine one, Washington,
Speaker 1: d C, Bloomberg one O six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business Set. Good morning, I'm Nathan Hagar, and I'm fair
Speaker 1: in Moscow. You wut dot index. Future is on the
Speaker 1: rise this morning, rebounding from a sharp sell off overnight,
Speaker 1: coming up to six oh one on Wall Street, and
Speaker 1: we check the markets every fifteen minutes throughout the trading day.
Speaker 1: On bloomberg S and P Future is up twelve points down.
Speaker 1: Future is up sixty four Nasdack Future is up sixty
Speaker 1: six the Dacks in Germany's up a third of a percent.
Speaker 1: Ten year Treasury down three thirties seconds yield one point
Speaker 1: eight eight percent. They yield on the two year one
Speaker 1: point oh five percent. Night Max Screwed oil is up
Speaker 1: one and a half percent of a dollar thirty one
Speaker 1: at eighty six dollars seventy four cents of barrel and
Speaker 1: bitcoin this morning moving lower at forty one thousand, six
Speaker 1: hundred dollars. Nathan Karen, it is all about the markets
Speaker 1: this morning. Stock features are rebounding after a sharp drop overnight.
Speaker 1: Let's get the very latest live from Bloomberg's John Tucker.
Speaker 1: Good morning, John, Nathan Nasak. Futures fell as much as
Speaker 1: one percent overnight. Right now they're up four tens of
Speaker 1: a percent for in Maastors fed rate hikes are baked
Speaker 1: into the cakes starting in March, and now there's speculation
Speaker 1: the Central Bank will deliver more than a quarter percentage
Speaker 1: point hike at that meeting. More hawkish Fed weighing on stocks,
Speaker 1: especially Tex shares lately. But AzaC one hundred sank two
Speaker 1: point six percent yesterday from its November peak. The Tech
Speaker 1: heavy index has fallen nine point six percent. Just shy
Speaker 1: of the correction. Live in New York. I'm John Tucker,
Speaker 1: Bloomberg debreak, John, thank you. We saw the US sell
Speaker 1: off spread to Asia overnight. We get the recap from
Speaker 1: Bloomberg's Juliet Sally and Singapore. Good morning, Juliette, Good morning Karen.
Speaker 1: The m s CI Asia Pacific Index fell for a
Speaker 1: fifth session, as longest losing streaks since March. Japanese equities
Speaker 1: led the decline as the topics closed lower by almost
Speaker 1: three percent. Sony shares fell the most since October two
Speaker 1: thousand and eight after news that its rival Microsoft plans
Speaker 1: to buy Activision Blizzard for sixty eight point seven billion dollars.
Speaker 1: Shares of some other Asian game related stokes climbed amid
Speaker 1: speculation on further industry m and A. Chinese developers also
Speaker 1: rose in Hong Kong after the PBOC pledge to use
Speaker 1: more monetary policy tools to aid the economy and ease
Speaker 1: credit stress, and bonds in New Zealand and Australia joined
Speaker 1: the global route in Singapore. Julie at Sally Bloomberg Daybreak.
Speaker 1: All right, Juliet, thank you. It's a different picture in
Speaker 1: Europe this morning, where early losses have flipped to gain.
Speaker 1: So let's go to London and get the details life
Speaker 1: from Bloomberg's Max Ramsey. Max. What's the latest, Yes, Nathan,
Speaker 1: turning more positive as we get through the European session today,
Speaker 1: the stock six hundred up three tenths of eight percent
Speaker 1: right now. Yields remain and focus here too. We have
Speaker 1: the tenure German bun yield turned positive for the first
Speaker 1: time since today, yielding just no point, not not two percent,
Speaker 1: So just in positive territory right now. In terms of
Speaker 1: the stock six industry groups, it's retail really powering a
Speaker 1: lot of the games today. The biggest mover to the
Speaker 1: upside among the industry groups, Reachmore. The biggest step mover
Speaker 1: in terms of stocks Swiss luxury goods company that with
Speaker 1: strong third quarter sales. Other companies Barbary Swatch Monclad also
Speaker 1: doing very well so far. This morning live in London,
Speaker 1: I'm Max Ramsey putting back day break right Max, thank
Speaker 1: you well. Inflation is also a friend and center in Europe.
Speaker 1: Prices in the UK unexpectedly searched at the fastest pace
Speaker 1: in thirty years. Consumer prices rose at an annual rate
Speaker 1: of five point four percent in December. That adds pressure
Speaker 1: to the Bank of England to raise interest rates again
Speaker 1: next month. And when it comes to the pandemic in
Speaker 1: the UK, Karen it looks like COVID restrictions could be
Speaker 1: lifted soon. Prime Minister Boris Johnson will reportedly announce the
Speaker 1: lifting of rules in England today. That's according to the
Speaker 1: Financial Times, which says work from home guidance and the
Speaker 1: use of COVID passes are expected to end all back
Speaker 1: here in the US, Nathan Bank earnings continue to rolland
Speaker 1: Bank of America and Morgan Stanley reporting results this morning,
Speaker 1: and we get a preview from Bloomberg Global Finance correspondent
Speaker 1: Shnali Bask. Most of the big banks have reported earnings
Speaker 1: and what it's shown is that trading is following below
Speaker 1: expectations and the consumer is not jumping back as fast
Speaker 1: as expected. We'll look for both of those figures today
Speaker 1: when Morgan Stanley, the biggest stock trading shop on Wall Street,
Speaker 1: reports earnings at a tough time for equities trading, and
Speaker 1: Bank of America reports earnings with a consumer and mind
Speaker 1: Um Schnelly, Bassk Bloomberg Daybreak Sally Thanks. Outside of Wall Street,
Speaker 1: airlines are in focus this morning. The roll out of
Speaker 1: five G wireless in the US is disrupting flight schedules
Speaker 1: around the world. Bloombergs Ranita Young has the latest Live
Speaker 1: Good Morning, Ranita, Good morning Nathan. Airlines fear if five
Speaker 1: G services are too close to airports they could interfere
Speaker 1: with key safety systems, so they're adjusting their schedules. British
Speaker 1: Airways has canceled a handful of flights to the US.
Speaker 1: Dubai's Immorrates is suspending routes to several US cities, including Chicago,
Speaker 1: New York, and San Francisco. In Japanese carriers are also
Speaker 1: dropping routes and will not fly some jets to and
Speaker 1: from the US. Mainland airlines are concerned about possible interference
Speaker 1: with navigation equipment that's used during landings. In poor weather,
Speaker 1: live in New York. I'm Ranita Young Bloomberg Daybreak, Ranita,
Speaker 1: thank you. At the White House. This week, big tech
Speaker 1: is in focus. The Biden administration is looking at how
Speaker 1: to reign in the nation's biggest tech companies to write
Speaker 1: partisan legislation. Any Morris says details from our Bloomberg newsroom
Speaker 1: in Washington. Sources tell Bloomberg News the White House is
Speaker 1: planning a meeting this week to discuss curbing the dominance
Speaker 1: of Apple, Amazon, Alphabet, and Meta. Critics of the tech giants,
Speaker 1: along with representatives of smaller digital firms, will be there
Speaker 1: as the White House gauges support for this antitrust measure
Speaker 1: sponsored by Senators Amy Klobascher and Chuck Grassley, but the
Speaker 1: big tech companies say that could harm their products that
Speaker 1: are popular with consumers. The bill could go before the
Speaker 1: Senate Judiciary Committee as early as tomorrow in Washington, I
Speaker 1: maybe more as Bloomberg Daybreak and on Capitol Hill, Senate
Speaker 1: Democrats have taken up voting rights legislation, but Republicans are
Speaker 1: expected to block a final vote. Democratic Congresswoman Haley Stephen
Speaker 1: says it's all about politics and that needs to change.
Speaker 1: We need seriousness back in the halls of Washington. We
Speaker 1: need connectivity to the people we represent, the issues that
Speaker 1: are important to them, and solution making Politick. Congresswoman Hayley
Speaker 1: Stephen spoke with our Washington correspondent Joe Matthew on Bloomberg
Speaker 1: Sound on It airs weekdays at five pm Eastern on
Speaker 1: Bloomberg Radio, and a rare news conference from President Biden's
Speaker 1: coming up this afternoon. We'll have that for you live
Speaker 1: later today on Bloomberg Radio and right now at six
Speaker 1: oh seven on Wall Street. Were thirty two degrees in
Speaker 1: Central Parking got an accident of the southbound to Conic
Speaker 1: at the Springbrook in Hawthorne. Details coming up in traffic.
Speaker 1: First Michael Barr with more on what's going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. In the January six House Committee, they have
Speaker 1: moved its investigation process to Trump supporters who tried to
Speaker 1: undo the election. Bloomberg's and Baxter reports it has now
Speaker 1: chapointed attorney's Rudy Giuliani, Sidney Powell, and Jenna Ellis. They
Speaker 1: were the main focus, so the legal teams trying to
Speaker 1: get the election overturned in Giuliani's case, urging state ledge
Speaker 1: of slaters to overturn voting results and spreading this information
Speaker 1: regarding the election results themselves, then leading to the January
Speaker 1: six insurrection attempt. Committee chair Benny Thompson says, in the
Speaker 1: efforts to subvert the system, they were in direct contact
Speaker 1: with Donald Trump in San Francisco. I'm at Baxter Bloomberg Gabrie,
Speaker 1: New York's Attorney General, last a judge to order Donald
Speaker 1: Trump and two of his adult children to testify under
Speaker 1: oath as part of the state civil probe into the
Speaker 1: family real estate business. A g Letitia James has investigators
Speaker 1: have already uncovered a pattern of potential fraudulent asset valuations.
Speaker 1: A New York City Police officer was wounded in the
Speaker 1: Bronx last night while apprehending a sixteen year old suspect
Speaker 1: with a gun. Police say there was a scuffle over
Speaker 1: the gun, it went off, and both the officer and
Speaker 1: the suspect was shot in the leg. Both have non
Speaker 1: life threatening injuries and were brought to the hospital. Mayor
Speaker 1: Eric Adams at the hospital commented on a surge of
Speaker 1: gun violence in the city. One officers shot is one
Speaker 1: officer too many. One civilians shot is one civilian too many.
Speaker 1: A city must be safe. That's the promise I'm made,
Speaker 1: and that's the promise I'm going to keep. Meanwhile, Mayor
Speaker 1: Adams admits even he doesn't feel safe on the city
Speaker 1: subway system. Adams comments come after a woman was pushed
Speaker 1: to her death in front of a New York City
Speaker 1: subway train at Times Square over the weekend. The victim,
Speaker 1: forty year old Michelle Go, did volunteer work for the homeless.
Speaker 1: Go had ties to the San Francisco area individual was
Speaker 1: held there for her last night. A statement was read
Speaker 1: from Gol's family. We hope Michelle will be remembered for
Speaker 1: how she lived and not just how she died. She
Speaker 1: was a beautiful, brilliant, kind and intelligent woman who loved
Speaker 1: her family and friends, love to travel the world and
Speaker 1: to help others. The NYPD says the man accused of
Speaker 1: push and Go is homeless and emotionally disturbed. New Jersey
Speaker 1: is now seeing a decline in COVID case rates and
Speaker 1: teenak they're seeing hospitalizations draw Global News twenty four hours
Speaker 1: a day on here and on Bloomberg. Quick Take, powered
Speaker 1: by more than twenty seven hundred journalists, analysts more than
Speaker 1: a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan.
Speaker 1: Thanks Michael. Just about six ten on Wall Street time
Speaker 1: for the Bloomberg Sports Update. Here's John sta At Nathan
Speaker 1: Good without the guard. Knicks trailed the Timberwolves by twelve
Speaker 1: and the first half big forty point third quarter led
Speaker 1: by Heavan four Yays three point shooting, the Knicks went
Speaker 1: up by nine. Minnesota then failed by one in the
Speaker 1: final minute down t als past Towns. Top of the
Speaker 1: key guess Julius Randol takes the trouble left handed down
Speaker 1: the laid up off last counted for two Towns puts
Speaker 1: the Wolves up one ten one oh nine, which twenty
Speaker 1: nine point three seconds left. Those Radio Fourgnja and Alley
Speaker 1: Birks miss shots on the next final possession in Minnesota
Speaker 1: won one twelve to one ten. So two home losses
Speaker 1: in two days drops the Knicks back under five hundred
Speaker 1: four years, going twenty seven points. Julius Randall at twenty
Speaker 1: one nine rebounds, nine assists, four block shots. Kemba Walker
Speaker 1: returned after missing nine games with a knee injury. He
Speaker 1: got hot in the fourth quarter finish with nineteen. It
Speaker 1: was not a great game for r J. Barrett has
Speaker 1: seven turnovers. The Islanders won only five of their first
Speaker 1: twenty games. They've won five of their last six. They've
Speaker 1: reached five hundred or fourth three win a Philadelphia to
Speaker 1: sweep the home and home the Flyers ninth loss in
Speaker 1: a row. The game went to a shootout. There were
Speaker 1: seventeen consecutive misses the four Oliver Walstrom in the ninth
Speaker 1: rounds for the game winner for the Islanders. Rangers back
Speaker 1: home tonight for Toronto Make It. Savanta Jad won the
Speaker 1: fan vote to get to play in the All Star Game,
Speaker 1: but decided not to play personal reasons. College hoops Duke
Speaker 1: lost in overtime at Florida State, Iona won in overtime
Speaker 1: at Monmouth Now fifteen and three losses for Fordham in Manhattan.
Speaker 1: Raphael the Dad won his second round match at the
Speaker 1: Australian Open, so did the Yomi Osaka and the women's
Speaker 1: top seed at Party. John stash Aw Sports n all Right. John,
Speaker 1: thanks Futures adding to their games now with SMP futures
Speaker 1: up twelve points. Futures of seventy four nanct futures are
Speaker 1: higher by sixty three points. You're listening to Bloomberg Daybreak
Speaker 1: Bloomberg eleven three oh weather mix of sun and clouds
Speaker 1: today and a hi in your forty five degrees overnight
Speaker 1: wintrey mess. Temperatures fall through tomorrow. By Friday will only
Speaker 1: get up to the low twenties, currently thirty two degrees
Speaker 1: in Central Park. Markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg business
Speaker 1: lash and I'm camerin Moscow and you mustock. Index futures
Speaker 1: are on the rise this morning, after reversing earlier losses.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg Guess and P futures up nine points
Speaker 1: now Future is up sixty nasday futures up forty six.
Speaker 1: The decks in Germany's up three tenths of epercent, and
Speaker 1: your treasury down to thirty seconds. He had one percent
Speaker 1: they yield in the two year one point oh five
Speaker 1: per cent. Nin mex S crude oil is up one
Speaker 1: point one percent, or ninety seven cents at eighty six
Speaker 1: dollars forty cents of Barrel Comic School the third of
Speaker 1: eper cent or six dollars twenty cents. At eighteen eighteen
Speaker 1: sixty announced the euro one point one three four or
Speaker 1: five against the dollar British bound one point three six
Speaker 1: four zero, and the Yettis had won fourteen point five
Speaker 1: one bitcoin, moving lower at forty two thousand dollars. Today,
Speaker 1: we are watching for reports on housing starts and building
Speaker 1: permits out of a thirty Wall Street Time and Morgan
Speaker 1: Stanley and Bank of America are among companies schedule to
Speaker 1: report earnings today. That's a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with Moore on let's go a lot around
Speaker 1: the world. Buchael Karen, thank you very much. The House
Speaker 1: Committee investigating the US Capitol, Ryan s of Peanut, Rudy Giuliani,
Speaker 1: and other members of Donald Trump's legal team who filed
Speaker 1: legal challenges to the twenty twenty election. The list includes Giuliani,
Speaker 1: Jenna Ellis, and Sydney Poem. Secretary of State Anthony B.
Speaker 1: Lincoln will meet with his Russian counterpart in Switzerland this
Speaker 1: week as tensions between the US and rush to escalate
Speaker 1: over a possible Russian invasion of Ukraine. Lincoln arrived in
Speaker 1: Kiev today to meet with President Volodamir z Lensky. In
Speaker 1: the NBA, the next loss, the Warriors one in the NHL,
Speaker 1: the Islanders wanting to shootout against the Flyers four three,
Speaker 1: the Capitol's one, the Bruins lost. Global News twenty four
Speaker 1: hours a day on here and on Bloomberg quick Take,
Speaker 1: powered by more than twenty seven under journalists and analysts
Speaker 1: in more than a hundred twenty countries. Michael bar this
Speaker 1: is Bloomberg. Nathan all right, Michael, thank you. At six
Speaker 1: nineteen on Wall Street Line from the Bloomberg Intractor Broker Studios.
Speaker 1: This is Bloomberg a daybreak. Let's get an update on
Speaker 1: the pandemic now as we continue to track the O
Speaker 1: macron variant and efforts to fight it. Dr Stewart Ray
Speaker 1: is with us this morning, Vice Chair of Medicine at
Speaker 1: the Johns Hopkins University School of Medicine. Dr. Good morning.
Speaker 1: I'd like to get an update from you on where
Speaker 1: you think the O macron pandemic is going at this
Speaker 1: point when we've seen pretty dramatic drops in cases and hospitalizations.
Speaker 1: Particularly in New York City and other parts of the
Speaker 1: Northeast over the past here, So yes, good morning. It's
Speaker 1: looking better in areas that were hit first with this wave.
Speaker 1: We're still seeing rises in hospitalizations and deaths in many areas,
Speaker 1: and we probably haven't seen the worst of it in
Speaker 1: areas that it arrived later. But I think we're definitely
Speaker 1: seeing a turn for the better in many areas. What
Speaker 1: are you looking for when it comes to how this
Speaker 1: pandemic could play out from here? Are you concerned about
Speaker 1: future variants? I am. I think that a lot of
Speaker 1: immunity has been built up through vaccination and through some infections. Obviously,
Speaker 1: the tremendous costs. We have a couple of thousand people
Speaker 1: in America dying every day from this fire. So uh,
Speaker 1: it's your costly effort. But but we're getting a level
Speaker 1: of immunity that may prevent uh future big waves of
Speaker 1: hospitalizations and deaths. We're going to have to see whether
Speaker 1: the immunity from omicron really translates to broad immunity and
Speaker 1: whether a new variant might arise from somewhere which is
Speaker 1: much different. And you know, the possibility is always there
Speaker 1: that the next one could result in spirit disease. I
Speaker 1: think the hope that everyone has is that will become
Speaker 1: milder if it evolves again. But most people have transmitted
Speaker 1: the virus before they developed severe disease, so the link
Speaker 1: between severe disease and transmission probably isn't one we can
Speaker 1: count on. I wanted to ask you a little bit
Speaker 1: more about the effect of O. Macron infection on future infection.
Speaker 1: We've gotten more studies. I think there was one just
Speaker 1: yesterday from South Africa that suggested that an O. Macron
Speaker 1: infection can protect against Delta, which I think we've seen
Speaker 1: is a much more severe strain compared to O macron.
Speaker 1: Is that a reason to for some hope that the
Speaker 1: widespread spread of O. Macron could get us closer to
Speaker 1: that endemic phase? Yes, I think that it does suggest
Speaker 1: that we're gonna have less severe disease is in the future,
Speaker 1: and people who have had the infection or who have
Speaker 1: been vaccinated. The challenges that we don't know that the
Speaker 1: next one will be similar enough, and basically we may
Speaker 1: be boxing the virus into a corner where it's next
Speaker 1: evolutionary step might require that it be energetically different enough
Speaker 1: that it can evade some of this immunity. It's really
Speaker 1: something that we're going to have to learn, and unfortunately,
Speaker 1: we have a bunch of tools available to us, like
Speaker 1: rapid testing and high quality mass and other things that
Speaker 1: can help mitigate any variant that might come along, uh
Speaker 1: if it spreads. And to that point, we got the
Speaker 1: rollout of the new free at home testing website from
Speaker 1: the Postal Service yesterday, and we're also hearing this morning
Speaker 1: that the White House is going to announce a plan
Speaker 1: to make four hundred million and ninety five masks available
Speaker 1: for free at pharmacies. What kind of impact could those
Speaker 1: steps have. Well, I'm hoping this gives some people a
Speaker 1: chance to sort of dip their toe in the water
Speaker 1: with tools that they might not have used much, or
Speaker 1: make them more available to people who really were motivated
Speaker 1: but couldn't access them. It's not enough of these things
Speaker 1: to really cover the need, but it certainly will give
Speaker 1: people a chance to try these things and get some
Speaker 1: comfort with them and prepare for any eventualities that might
Speaker 1: come up. We're all hoping that we're seeing the beginning
Speaker 1: of the end here, but it's still some risk that
Speaker 1: we'll see more trouble in the future. We're just trying
Speaker 1: to have tools in hand to manage what comes in
Speaker 1: our last minute here, doctor, how much longer do you
Speaker 1: think we're going to need to deploy these tools, these
Speaker 1: public health measures that many of us, the majority of us,
Speaker 1: I think, have been trying to put in place over
Speaker 1: the last almost two years. Now, Well, I'm hoping that
Speaker 1: within a few months we're going to have a lot
Speaker 1: less of this widespread infection and then people can begin
Speaker 1: really paying attention to local rates. And there are UH
Speaker 1: susceptibility and the susceptibly people around them, and so I'm
Speaker 1: hoping that we can begin much more targeted interventions. And
Speaker 1: endemic phase doesn't mean it won't cause a lot of
Speaker 1: UH death and illness. It just means that it will
Speaker 1: become a more predictable pattern. I'm hoping that we can
Speaker 1: use these tools to really lower that rate during endemic
Speaker 1: phase two, low levels of complications for people just quickly.
Speaker 1: Do you think it could happen this year with what
Speaker 1: the return to an endemic phase or move to an
Speaker 1: endemic phase at least, Well, I think it could become
Speaker 1: more predictublar this year, but then we could have outbreaks.
Speaker 1: It's like influenza at that point where a new genetic
Speaker 1: change could cause disruption. All right, thanks as always, Dr
Speaker 1: Stewart Ray the Johns Hopkins University School of Medicine with
Speaker 1: us this morning, Stay with us. Just ahead on Bloomberg Daybreak,
Speaker 1: We're going to get more on the market, sed bets
Speaker 1: and airlines, grappling with the five G roll out as
Speaker 1: we check the five things need to know to start
Speaker 1: your day. This is Bloomberg and Bloomberg Daybreak is brought
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Speaker 1: Today broadcasting live from the Bloomberg Interactive Broker Studio in
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Speaker 1: Radio dot Com. This is Bloomberg Daybreak. It's six thirty
Speaker 1: on Wall Street. Good morning. I'm Nathan Hager and I'm
Speaker 1: Cameron Moscow. I've we're just about three hours away from
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Speaker 1: all about the markets this morning. Stock future is falling
Speaker 1: sharply overnight, but they're now rebounding. We get the latest
Speaker 1: to live with the Bloomberg's John Tucker, John, Good Morning,
Speaker 1: Good morning, Karen Bench. Where treasury yields look points to
Speaker 1: surge past two percent, traders are petting the Federal Reserve
Speaker 1: could go for a supersized rate hike in March. Higher
Speaker 1: yields waging on stocks, especially tech stocks lately, but as
Speaker 1: that down almost ten percent from its November high, that
Speaker 1: would be a correction. Now, Investors still wondering if the
Speaker 1: sell off has gone too far. Overnight then as a
Speaker 1: futures fell as much as one percent and now they're
Speaker 1: up eighteen points. Live in New York on John Tucker
Speaker 1: Bloomberg Day Break and John. Investors will also be paying
Speaker 1: close attention to bank earnings. Morgan Stanley and Bank of
Speaker 1: America report before the opening bell after disappointing trading results
Speaker 1: yesterday from Goldman Sachs. Looking to the skies now, Nathan,
Speaker 1: the rollout of five G wireless service in the US
Speaker 1: is disrupting airline flight schedules around the world. May get
Speaker 1: the latest line from Bloomberg's Granda Young. Good Morning, Ready down,
Speaker 1: Good Morning Care and airlines fear if five G services
Speaker 1: are too close to airports they could interfere with key
Speaker 1: safety systems, so they're adjusting schedules. British Airways has canceled
Speaker 1: a handful of flights to the US. Dubai Zimmers is
Speaker 1: suspending routes to several US cities, including Chicago, Newark, and
Speaker 1: San Francisco, and Japanese carriers are also dropping routes and
Speaker 1: will not fly some jets to and from the US mainland.
Speaker 1: Live in New York, I'm Ranita Young, Bloomberg Daybreak, All Nita,
Speaker 1: thanks the news out of Washington this morning. The Biden
Speaker 1: administrations exploring ways to rein in the nation's biggest tech companies,
Speaker 1: possibly through antitrust legislation. Bloomberg News has learned the White
Speaker 1: House will meet this week with critics of big tech.
Speaker 1: A bill in the Senate could limit the dominance of
Speaker 1: companies like Google, Apple, Amazon, and Meta. And on Capitol Hill,
Speaker 1: Nathan Senate, Denver. Senate Democrats are poised a hand President
Speaker 1: Biden another defeat. Lawmakers have taken up voting rights legislation
Speaker 1: that has very long odds. Republicans are opposed to the
Speaker 1: measure and expected to block a final vote on it.
Speaker 1: And that's the five things you need to know to
Speaker 1: start your day, Brought to you by Interactive Brokers. Futures
Speaker 1: this morning moving higher SMP Futures up five points down.
Speaker 1: Future is up twenty eight, nas Day Future is up
Speaker 1: twenty eight as well. And straight ahead your latest local
Speaker 1: headlines plus the check of sports. And this is Bloomberg.
Speaker 1: All right, Karen, thank you. At six thirty three on
Speaker 1: Wall Street. We're thirty three degrees in Central Park now
Speaker 1: dealing with a couple accidents on the southbound to Conic
Speaker 1: the tails coming up in traffic first, Michael Barr. What
Speaker 1: else is going on in New York and around the world.
Speaker 1: Thank you very much. Nathan, a New York City police officer,
Speaker 1: was injured in the Bronx last night while apprehending a
Speaker 1: sixteen year old suspect with a gun. After a scuff hold,
Speaker 1: the gun went off. Both the officer and the suspect
Speaker 1: were shot in the leg and they will recover. Mayor
Speaker 1: Eric Adams rushed to the hospital to thank police officers
Speaker 1: for the arrest. Adams called for reforming laws involving gun crimes.
Speaker 1: Anytime there's a gun involved, we have to look at
Speaker 1: that in a serious fashion, and now we're not doing that. Meanwhile,
Speaker 1: Mayor Adams would retain mayoral control of the city's schools
Speaker 1: for four years in a budget proposal unveiled by Governor
Speaker 1: Kathy Huco. If approved by the state legislature, the oversight
Speaker 1: of city schools would strengthen a partnership between Hocol and
Speaker 1: Adams in their early days in office. The House Committee
Speaker 1: investigating the US Capitol ryan s of Peanut, Rudy Giuliani,
Speaker 1: and other members of Donald Trump's legal team who filed
Speaker 1: legal challenges to the election. The panel is demanding information
Speaker 1: and testimony from Giuliani, Jenna Ellis, and Sidney Powell. The
Speaker 1: New York Attorney General's Office says its civil investigation has
Speaker 1: uncovered evidence that Memer President Trump's company used fraudulent or
Speaker 1: misleading asset valuations to get loans and tax benefits and
Speaker 1: accord filing last night, Attorney General Letitia James's office said
Speaker 1: evidence show that the Trump organization routinely misrepresented the value
Speaker 1: of its properties and golf clubs in financial statements. Later today,
Speaker 1: Senate Democrats will try to vote on changing the filibuster
Speaker 1: rule to pass two voting rights bills. The filibuster change
Speaker 1: will almost certainly fail, but it's not stopping Senate Majority
Speaker 1: Leader Chuck Schumer from forcing to vote on something as
Speaker 1: important as voting rights. It Senate Republicans are going to
Speaker 1: oppose it. They should not be allowed to sit in
Speaker 1: their office. They got to come down on the floor
Speaker 1: and defend their opposition. Republicans insist there is nothing to
Speaker 1: fix to spite GOP states passing new voting laws. New
Speaker 1: Jersey is now seeing a decline in COVID case rates
Speaker 1: and te neck. They're seeing hospital hospitalizations drop during the
Speaker 1: holiday season, The Holy Name Hospitals saw waves of sick
Speaker 1: pay tions and staffing issues. New Yorker's flooded into online
Speaker 1: sports betting in the first weekend, it was legal to
Speaker 1: do so in the state. Official State Draft Kings Fan Duel,
Speaker 1: Rushed Street Interactive, and Caesar's Sports Book took in one
Speaker 1: hundred fifty million dollars in wagers since online sports betting
Speaker 1: operations began in New York January eight. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick
Speaker 1: Take Power a Boy more than twenty seven under journalist
Speaker 1: analysts more than a hundred twenty countries. I'm Michael Barr.
Speaker 1: This is Bloomberg. Nathan. Okay, Michael, Thanks six thirty six
Speaker 1: on Wall Street, time for the Bloomberg Sports Update with
Speaker 1: John stoesshur all right, Nathan. Next. In Timberwolves at the Garden,
Speaker 1: Aleck Berks took a three point shot. The ball was
Speaker 1: in the air as the final buzzers sounded, It missed,
Speaker 1: and Minnesota on a wild one one twelve to one
Speaker 1: ten tea. Wolves were up by twelve in the first half.
Speaker 1: Knicks then led by nine. Carl Anthony Town's three point
Speaker 1: play with twenty nine seconds left to him to be
Speaker 1: the game winner for Minnesota having four led the next
Speaker 1: with twenties having points. Julius Randall had twenty one Kemba
Speaker 1: Walker nineteen and his return from knee injury with this
Speaker 1: homestand has started with two losses in two days. The
Speaker 1: nixt are fact under five hundred Islanders and Flyers captain
Speaker 1: home at home in Philly. The game was tied at
Speaker 1: one and then two and then three at CAZy Kaziks,
Speaker 1: tying goal for the Isles with four happenutes left. They
Speaker 1: went to overtime and then the shootout where neither team
Speaker 1: can score. Seventeen consecutive misses and that I drowned, it
Speaker 1: was time for the Islanders. Oliver Walstroma Carter hustals it
Speaker 1: down the winner in the final of the ninth and
Speaker 1: the Islanders beat the Flyers by the final score to
Speaker 1: four to three. King w e pn Isisles have now
Speaker 1: won five or six to reach five hundred. Flyers have
Speaker 1: lost nine in a row. Rangers first home game in
Speaker 1: over two weeks tonight against Toronto Australian Open second round
Speaker 1: victories for Raphael, the dal Ash Party Naomi Osaka, all
Speaker 1: on straight sets. Giants will be gonna set and a
Speaker 1: round of interviews for their Gentle Manager's job. These being
Speaker 1: conducted in person on first Yesterday Buffalo assistant to M
Speaker 1: Joe shown. John's facially were Bloomberg Sports. Nathan, all right, John,
Speaker 1: thank you. It is six thirty seven on Wall Street.
Speaker 1: Time to take a look at stocks and some of
Speaker 1: the names moving in the pre market now with Bloomberg
Speaker 1: Radio on TV Markets correspondent Creety gooped up. Creaty. We've
Speaker 1: been so focused this morning getting ready for bank earnings,
Speaker 1: but there is still a lot of movement for Activision
Speaker 1: after that Microsoft buyout news. There absolutely as you're seeing Activision,
Speaker 1: of course up three tenths of a percent, no match
Speaker 1: to what you saw yesterday with of course over rise,
Speaker 1: but important to keep in mind that Microsoft is coming
Speaker 1: back with a little bit of gains here M S
Speaker 1: F T S your ticker, They're up six tenths of
Speaker 1: a percent this morning, largely hailed as a pretty good
Speaker 1: move when you look at what the analyst calls are
Speaker 1: really helping them step into the gaming world. Activision a
Speaker 1: TV I, like I said, is the ticker up three
Speaker 1: tenths of a percent, Nathan, But this morning story is
Speaker 1: also to your point, going to be about those bank earnings,
Speaker 1: a lot of them seeing some heavy volume, but actually
Speaker 1: at right now, which tells you that there's a little
Speaker 1: bit of a tug of war ahead of some of
Speaker 1: these numbers. Bank of America is the one that comes
Speaker 1: to mind. B A. C. S the taker. Those shoes
Speaker 1: about flat right now. They were higher in the pre
Speaker 1: market earlier. You also have Morgan Stanley due to report
Speaker 1: about up about five tenths of a percent. M S
Speaker 1: is your ticker, and of course JP Morgan is also
Speaker 1: flat in the pre market, once again seeing some heavy volume,
Speaker 1: though this coming after they raised their pay for junior
Speaker 1: bankers once again. Year. In the last two pay raises,
Speaker 1: they would have gotten a forty percent raise. Nathan really
Speaker 1: regretting not going into bank right now. Ah so sad, Well,
Speaker 1: we've already gotten some earnings outside of financials just this
Speaker 1: morning we have it is you know, all the focus
Speaker 1: is going to be on those banks, but you do
Speaker 1: have plenty of other earnings outside of banks. To your point,
Speaker 1: United Health is the one that caught my eye. U
Speaker 1: n H the ticker up four tenths of a percent
Speaker 1: after beating analysts estimates for its fourth quarter earnings and
Speaker 1: affirmed its two profit outlook. As the US health conglomerates
Speaker 1: saw broad based growth across this insurance and services businesses.
Speaker 1: That being said, you also got some analysts action this morning,
Speaker 1: Cisco Systems c s c O down two percent, getting
Speaker 1: downgraded to neutral from a by over at Goldman as
Speaker 1: its stock approaches its price target, saying that the tail
Speaker 1: winds and the headwinds are now balanced that of course
Speaker 1: they are preferring Dell in terms of what their new
Speaker 1: long term tech pick is. But nevertheless, c s c
Speaker 1: O down two percent. I'm gonna end here with Netflix
Speaker 1: and f l X down two tons of a percent
Speaker 1: after the price hike in the United States and Canada
Speaker 1: announced last week was larger than expected and applies only
Speaker 1: a one percent lift to the revenue forecast at according
Speaker 1: to Key Bank. Nevertheless, down two tons of a percent
Speaker 1: right then. Now we're looking forward to Netflix earnings later
Speaker 1: on this week as well. Bloomberg Radio and TV Markets
Speaker 1: correspondent Creedy Gupta thank you for the update, and as
Speaker 1: we take a look at stocks as a whole ahead
Speaker 1: of the open, future is moving a bit higher after
Speaker 1: yesterday's losses. Right now, SMP futures are up seven points,
Speaker 1: now futures up thirty six and NASTACK futures are higher
Speaker 1: by four one point ten. Your treasury is down to
Speaker 1: thirty seconds down with the yield one point eight percent.
Speaker 1: The yield on the two year one point zero five percent.
Speaker 1: President Biden gets ready to wrap up year one, will
Speaker 1: look ahead to his afternoon news conference with Bloomberg Government's
Speaker 1: Emily Wilkins. Next, this is Bloomberg Bloomberg eleven three oh
Speaker 1: weather a mix of sun and clouds and highs in
Speaker 1: the mid forties today, overnight wintry mess temperatures will fall
Speaker 1: through tomorrow. By Friday will have highs only in the
Speaker 1: low twenties. Currently thirty three degrees. Markets, headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot com,
Speaker 1: blo Bloomberg Business Out and at Bloomberg Quicktape. He's a
Speaker 1: Bloomberg Business Flash. Hey, good morning, I'm kared Moscow. Futures
Speaker 1: are higher this morning, and we go to the first
Speaker 1: word breaking news. Dask for today's morning call. Here is
Speaker 1: Bell Maloney, Bill, good ring, and good morning Karen. That's right,
Speaker 1: US futures are trying to stabilize here at Dow Future
Speaker 1: is currently hired by eight thirty eight points. Subs gain
Speaker 1: eight and a half. Well, then as the futures are
Speaker 1: higher by fifty the US ten yeal at one point
Speaker 1: eight eight percent, Gold is up five Oil trading higher,
Speaker 1: but bitcoin is down by one percent. Japan fell two
Speaker 1: point eight percent overnight, while European markets are mostly in
Speaker 1: the green this morning. But note that Britain's inflation rate
Speaker 1: has jumped to its highest level since back in the US.
Speaker 1: On the economic Frinday, thirty December, housing starts and building permits.
Speaker 1: Regarding earnings, this morning, un h BT estimates Bank for
Speaker 1: America Q four training Your Revenue x d v A
Speaker 1: did miss estimates and look for Morgan Stanley to report
Speaker 1: around seven thirty. In other news, so FI sword pre
Speaker 1: market after it was granted conditional approval to become a
Speaker 1: U S bank, and Ford expects to report and eight
Speaker 1: point two billion dollar gain in the fourth quarter on
Speaker 1: its investment in Ribban. Wrapping things up at AM, IWA
Speaker 1: raised overweight to key Bank, LI Financial cut neutral at
Speaker 1: JP Morgan and Excellent was raised to sector perform over
Speaker 1: at RBC Live from the first breaking news discom Bill
Speaker 1: Maloney Camp all right, Bill, thank you, and yeah, we're
Speaker 1: watching those Bank of America shares this morning, down more
Speaker 1: than four percent in early trading, and your live breaking
Speaker 1: news of your Bloomberg have squalk on your termin I'll
Speaker 1: ascue you a w K. That's a Bloomberg business flash.
Speaker 1: Now here's Michael bar with Moore on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Rudy
Speaker 1: Giuliani and two other lawyers who helped former President Jonald
Speaker 1: Trump advanced claims of fraud in the election have beens
Speaker 1: peen up by the House committee investigating the January six
Speaker 1: riot at the US Capitol. Along with Giuliani, Sydney Powell
Speaker 1: and Jenna Ellis were part of a legal team that
Speaker 1: spearheaded an attempt to overturn the election of results. Airlines
Speaker 1: around the world are adjusting their schedules and aircraft deployments
Speaker 1: for flights to the US over fears that a five
Speaker 1: G rollout by a T and T and varions and
Speaker 1: near American airports can interfere with key safety systems in
Speaker 1: the NBA. The next loss the Warriors won in the NHL,
Speaker 1: the Islanders want in a shootout against the Flyers, four
Speaker 1: or three the Capitol's one. The Bruins lost. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take powered by more than twenty seven d journalist
Speaker 1: and analysts in more than a hundred twenty countries. Michael Vard,
Speaker 1: this is Bloomberg. Heret all right, Michael, thank you at
Speaker 1: a six nine on Wall Street, and we turned to
Speaker 1: news and science and technology. Now but the Bloomberg n
Speaker 1: j I T STEM report, it is brought to you
Speaker 1: buy New Jersey Institute of Technology, which announced that renowned
Speaker 1: scholar and educational leader Dr Tech Limb will join the
Speaker 1: university at n j I T S n j I
Speaker 1: T S ninth President. Learn more at n j I
Speaker 1: T DOT E d U. Now here's just making news
Speaker 1: in science, Technology, engineering and math. The European Space Agency
Speaker 1: has narrowed the candidate list for its next generation of astronauts,
Speaker 1: including dozens who have a physical disability. The agency announced
Speaker 1: last year that it receive more than twenty two applications.
Speaker 1: The agency says it has reduced the east of fewer
Speaker 1: than fourteen hundred. In the end, it'll have four to
Speaker 1: six positions on its astronaut training program. British Prime Minister
Speaker 1: Boris Johnson reportedly will announced the lifting of COVID restrictions
Speaker 1: in England today as according to the Financial Times, the
Speaker 1: paper says that work from home guidance and the use
Speaker 1: of COVID passes are expected to end. Meanwhile, the Cabinet
Speaker 1: is set to consider the role of face masks in
Speaker 1: public places. And Visor CEO Albert Borla has been awarded
Speaker 1: the Genesis Prize for his efforts in leading the development
Speaker 1: of a COVID nineteen vaccine. The one million dollar award
Speaker 1: as granted each year to a person for their professional achievements,
Speaker 1: contributions to humanity and commitment to Jewish values. Borla, the
Speaker 1: son of Holocaust survivors, plans to donate his prize to
Speaker 1: projects aimed at preserving the memory of Holocaust victims and
Speaker 1: as a Bloomberg and J. I. T. S Stem report.
Speaker 1: Nathan all right, Karen, thank you. We're lying from the
Speaker 1: Bloomberg Interactive Brokers studios where at six fifty one on
Speaker 1: Wall Street as we continue to watch earnings headlines from
Speaker 1: Bank America across the Bloomberg terminal. We're joined now by
Speaker 1: Bloomberg Intelligence senior analysts for global investment banks, Alison Williams. Allison,
Speaker 1: good morning. Is I take a quick look at these earnings.
Speaker 1: We did get a beat on earnings per share, but
Speaker 1: it looks like traders this morning our focused on the
Speaker 1: big miss on trading revenue. Well, it looks to me
Speaker 1: like they're they're trading did okay, and actually they're fixed
Speaker 1: income trading outperformed UM what we've seen at some others,
Speaker 1: So I think that's a positive. But for for Bank
Speaker 1: of America, really the most important things, well, the two
Speaker 1: most important things are UM loan growth and expensive because expensive,
Speaker 1: because I think those are the things that we were
Speaker 1: looking for in this quarter. We did see a pickup
Speaker 1: in loan growth, so that's very good. We're looking for
Speaker 1: net interest income to improve, as our most investors this year,
Speaker 1: and so that's important, net interest income coming in a
Speaker 1: little bit better. And then on the expense side of things,
Speaker 1: with which I think is really the story of the season.
Speaker 1: Earning season UM, they're guiding to expenses that look about
Speaker 1: similar to this year. So that's a little bit higher
Speaker 1: than consensus expected UM, but certainly not to the degree
Speaker 1: that we saw JP Morgan. And as I look at
Speaker 1: the shares this morning, I think they had dropped as
Speaker 1: low as four point three percent in early trading. Now
Speaker 1: giving back some of those losses down about two starting
Speaker 1: to climb back up from there. When it comes to
Speaker 1: expenses and loan growth, Allison, what are you seeing from
Speaker 1: these numbers? What's the outlook for Bank of America? I
Speaker 1: think you know that the the outlook is similar to
Speaker 1: the outlook for economic growth. So in general, they're benefiting
Speaker 1: from healthy consumers, they're benefiting from healthy businesses. The fact
Speaker 1: that we are seeing a little bit more borrowing is better.
Speaker 1: Um So in general, I think things are coming sort
Speaker 1: of sort of in line with what investors may have hoped.
Speaker 1: Um As I said, the big story this earning season
Speaker 1: has been expenses, and that's because we've already gotten a
Speaker 1: lot of these you know, clues to the better revenue sides.
Speaker 1: So we've already seen in the industry data loans improving.
Speaker 1: We've already um looked to the rates market. We see
Speaker 1: that interest rates are expected to go up. Expenses were
Speaker 1: sort of a big question, and I think you know,
Speaker 1: for for banks, the expectation is that, you know, or
Speaker 1: the hope is that they're going to show operating leverage,
Speaker 1: which means that their revenue growth is going to outpace
Speaker 1: their expense growth. Bank of America is in a solid
Speaker 1: position for this because they are getting help from interest rates.
Speaker 1: They're more interest rate sensitive, which means they benefit more
Speaker 1: from that increase. Loan growth is really going to add
Speaker 1: fuel to that um. And then if they're able to
Speaker 1: keep expenses a little bit stable. Their expenses were a
Speaker 1: little bit bloated last year, so it's not you know,
Speaker 1: the I think earlier that earlier in we might of
Speaker 1: hope that expenses came down in but but again flat
Speaker 1: is nowhere near the increase that we're seeing. I suppose
Speaker 1: the question is, you know, are they able to spend
Speaker 1: on investments the way that some of these other investment
Speaker 1: banks are. Keep in mind that trading and fees are
Speaker 1: also part of their earnings outlook, but it's a much
Speaker 1: smaller part. And how are they competing on that front
Speaker 1: for talent? All Right, Bloomberg Intelligency ranallist Allison Williams will
Speaker 1: let you get back to watching those headlines cross from
Speaker 1: Bank of America. The shares now down about one point
Speaker 1: six percent in early trading, and of course Morgan Stanley
Speaker 1: will wrap up bank earnings. Their results do out in
Speaker 1: a little bit more than a half hour. We're gonna
Speaker 1: have full coverage for you here throughout the day on
Speaker 1: Bloomberg Radio. We want to turn out to what's going
Speaker 1: on in DC, where some of the top stories include
Speaker 1: President Biden rounding out his first year at office with
Speaker 1: a formal news conference and Senate Democrats headed toward defeat
Speaker 1: on voting rights legislation. Let's bring in Bloomberg Government reporter
Speaker 1: Emily Wilkins in our studios in Washington, d see ahead
Speaker 1: of this four pm Wall Street Time news conference. Emily
Speaker 1: could be a pivotal moment for President Biden. It could
Speaker 1: be he needs a pivotal moment right now. His ratings
Speaker 1: are at a low for his presidency. He has faced
Speaker 1: a lot of struggles within his last year, particularly within
Speaker 1: the last six months. And Nathan, this is the first
Speaker 1: press conference formally that Biden has given in about ten months,
Speaker 1: so he's very much overdue for one. The goal for
Speaker 1: Biden today is to try to, as we heard yesterday
Speaker 1: from White House Press Secretary Jensaki, for him to take
Speaker 1: a step back and kind of re evaluate the progress
Speaker 1: of his last year. I mean, certainly he can point
Speaker 1: to victories such as the bipartisan infrastructure bill that was
Speaker 1: passed as well as you know, starting the vaccine rollout.
Speaker 1: But he's been criticized lately on a number of fronts,
Speaker 1: including with the pandemic for being caught flat footed for
Speaker 1: not having the number of tests that Americans needed over
Speaker 1: the holidays. Um. Only now is his administrations starting to
Speaker 1: get masks out his plan, the social policy and tax plan,
Speaker 1: the so called build back Better that seems to be stalled.
Speaker 1: And today we're going to see the voting rights effort
Speaker 1: UH in the Senate. UH that is also going to
Speaker 1: go be going down this week because they don't have
Speaker 1: the votes to change Senate rules. Yeah, and this is
Speaker 1: something that looks like it could be yet another setback
Speaker 1: for President Biden politically. But there's been some talk, I
Speaker 1: think in the Senate emily about changing the filibuster rule,
Speaker 1: maybe making it a talking filibuster for voting rights. Could
Speaker 1: that go somewhere in our last thirty seconds here? It
Speaker 1: doesn't look like at Senator Kristen Sinema basically xenate out
Speaker 1: anything like that. There's definitely been some discussion. It seems
Speaker 1: like it seems like a potential option at one point,
Speaker 1: but Senator Kristen Sinema has said she's not open to it,
Speaker 1: and and they need all fifty Yeah, alright. Boomberg Government
Speaker 1: reporter Emily Wilkins with us this morning from Washington, d C.
Speaker 1: Ahead of that formal news conference to round out President
Speaker 1: Biden's first year in off. It's scheduled for four pm
Speaker 1: Wall Street Time from the White House. We will bring
Speaker 1: it to you live here on Bloomberg Radio. So we
Speaker 1: continue to watch. Shares of Bank of America in the
Speaker 1: pre market there down one point eight percent with a
Speaker 1: miss on fourth quarter trading revenue, while earnings per shared
Speaker 1: did come in above Wall Street analyst estimates. And we're
Speaker 1: gonna hear from Morgan Stanley uh, the last of the
Speaker 1: big six Wall Street banks to report earnings. Those are
Speaker 1: due out at seven thirty Wall Street Times, just about
Speaker 1: a half hour from now. So keep it right here
Speaker 1: on Bloomberg Radio for more coverage from Bloomberg Surveillance up
Speaker 1: next to Tom Keene, Jonathan Farrell, and Lisa Bramway's ahead
Speaker 1: of that, SMP futures are up ten points, DAL futures
Speaker 1: up fifty one, and Nastack futures are higher by fifty
Speaker 1: seven points. For Karen Moscow, I'm Nathan Hager, This is Bloomberg,