Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg
Speaker 1: Daybreak for Wednesday, November two. Coming up this hour, Wall
Speaker 1: Street awaits a highly anticipated speech from J. Powell. China
Speaker 1: appears to be taking a softer public stance against COVID restrictions.
Speaker 1: Congress was to prevent a possible rail strike, and Disney
Speaker 1: says management and strategy changes could come at a cost
Speaker 1: because suspicious powder was found in the New York Midtown hotel,
Speaker 1: Whilst the same sex marriage bill head to the House
Speaker 1: after Senate passage. I'm Michael barr More ahead, I'm John
Speaker 1: standards fours easy win for the Knicks, Islanders lost, eh,
Speaker 1: John's one in the US advances at the World Cup.
Speaker 1: That's all straded ahead on Bloomberg Daybreak on Bloomberg he
Speaker 1: Live in Free on New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties and
Speaker 1: Francisco Sirius x AM one nineteen and around the world
Speaker 1: Old on Bloomberg Radio dot Com and the Bloomberg Business app.
Speaker 1: Good morning, I'm Nathan Hagar and I'm John Tucker. Bloomberg
Speaker 1: Daybreak being brought to you by b n Y Balance.
Speaker 1: Pershing learned why the world's most sophisticated wealth management and
Speaker 1: institutional firms rely on Pershing to help them improve profitability,
Speaker 1: create efficiency, attract talent, and manage risk at pershing dot Com.
Speaker 1: And futures are moving a bit higher this morning. It's
Speaker 1: six oh one on Wall Street, and we checked the
Speaker 1: markets every fifteen minutes during the trading day. On Bloomberg,
Speaker 1: SMP futures are up six points, Staff futures up fifteen,
Speaker 1: NASTAC futures are higher by forty points. The ten Your
Speaker 1: Treasury is up four thirty seconds the old three point
Speaker 1: seven two percent yield on the two year four point
Speaker 1: four seven percent. Nim X screwed is up two point
Speaker 1: four percent at eighty dollars nine cents of barrel, and
Speaker 1: comex golds up a half percent at seventeen seventy ounce.
Speaker 1: John and Nathan, we begin with a highly anticipated speech
Speaker 1: by the FED chair j Pal. It takes place right
Speaker 1: in the middle of today's trading. I just get a
Speaker 1: preview from Bloomberg Economics, corresponded Michael McKee. When the Fed
Speaker 1: Chairman speaks, he usually moves markets, Probably not this time,
Speaker 1: though investors have firmly priced in a half percentage point
Speaker 1: increase in the Fed's target rate, and none of the
Speaker 1: Fed speakers in recent weeks has taken issue with that.
Speaker 1: What j Powell may want to do is set some
Speaker 1: guidelines for the new FED guidance on rates coming December fourteen.
Speaker 1: There's general agreement among policymakers the ultimate level of the
Speaker 1: target rate will be higher than their last forecast of
Speaker 1: four point six percent. Markets now see it at five.
Speaker 1: Pouell could offer guidance on whether that's about right and
Speaker 1: about how long it would take the Fed to get there.
Speaker 1: Michael McKee, Bloomberg Daybreak. All right, thanks Michael, and Bloomberg
Speaker 1: Radio and Television will bring you live coverage of Pound
Speaker 1: speech this afternoon. You can catch that around one thirty
Speaker 1: pm All Street Time. Go ahead of the speech, John,
Speaker 1: we continue to hear tough talk on interest rates from
Speaker 1: Fed speakers. Let's get the latest live with Bloomberg. Steve
Speaker 1: Rappaport to morning Steve, Good morning, John, and Nathan St. Louis.
Speaker 1: FED President Jim Bullard estimates an interest rate of at
Speaker 1: least four point nine percent would be needed to bring
Speaker 1: inflation down next year, but former New York Fed president
Speaker 1: and Bloomberg opinion columnist Bill Dudley predicts an even higher
Speaker 1: rate in the short term. But I think once we
Speaker 1: get you know, five and a quarter, five and a half,
Speaker 1: and they felt the relent, they'll just stid sit there
Speaker 1: and wait for that restrict of Montreal policy to slow
Speaker 1: the coming down generate more slack in the layer market.
Speaker 1: The FETE is expected to announce another rate hike next month.
Speaker 1: Live in New York, I'm Steve Rappaport Bloomberg day Break.
Speaker 1: All right, thanks Steven, and let's turn to ecoic news.
Speaker 1: Out of Asia. Data show COVID restrictions are continuing to
Speaker 1: hamper growth for the Chinese economy. At Bloomberg Daybreak, Asia
Speaker 1: anchor Brian Curtis has more from Hong Kong tough COVID
Speaker 1: restrictions on consumers and businesses. Weight on activity. The official
Speaker 1: p m I fell to forty eight this month. That's
Speaker 1: the lowest reading sents April, and worst than the estimate
Speaker 1: of forty nine in the Bloomberg survey. The non manufacturing
Speaker 1: index declined to forty six point seven from forty eight
Speaker 1: point seven. You know over that was also lower than estimated.
Speaker 1: About a quarter of China's total GDP is said to
Speaker 1: be affected by COVID lockdowns. Brian Curtis, Bloomberg day Break
Speaker 1: and Brian, thank you. In China maybe starting to adact
Speaker 1: a softer stance on COVID restrictions. Stories of people who
Speaker 1: survived infections are popping up in state run media. That's
Speaker 1: something that hadn't been published previously. And local governments are
Speaker 1: now vowing to prioritize the public over COVID control. And
Speaker 1: The People's Daily, a mouthpiece for the Communist Party, is
Speaker 1: urging citizens to take responsibility for their own health. And
Speaker 1: it's the last trading day of the month. And November
Speaker 1: was pretty good for Chinese stocks listed in the US
Speaker 1: the rough. If that level holds today, it would be
Speaker 1: the best month ever. It's also been a good run
Speaker 1: for global bonds. They added a record two point eight
Speaker 1: trillion dollars in market value in November. All right, let's
Speaker 1: turn to politics now. John Congress is moving quickly to
Speaker 1: prevent a possible rail workers strike. We get the details
Speaker 1: from Amy Morris in our Bloomberg Washington newsroom. There will
Speaker 1: be two votes in the House today. The first vote
Speaker 1: is on a bill to avert the strike by passing
Speaker 1: the tentative agreement. The second would be an up or
Speaker 1: down vote on whether to add seven days of paid
Speaker 1: sickly for railroaders. Lawmakers are reluctantly intervening to avoid what
Speaker 1: would be a devastating blow to the nation's economy if
Speaker 1: the supply chain of fuel, food, and other critical goods
Speaker 1: were disrupted. Once it passes the House, the bill heads
Speaker 1: to the Senate for consideration. The deadline foreign agreement is
Speaker 1: December nine. In Washington, I'm Amy Morris, Bloomberg Daybreak. All right, Amy, Thanks.
Speaker 1: Also in Washington today, lawmakers are getting a visit from
Speaker 1: Apple's CEO Tim Cook, where it's only plans to meet
Speaker 1: with top Republican lawmakers, and Bloomberg's Ed Baxter has the story.
Speaker 1: The aim, according to Bloomberg sources, is to forge ties
Speaker 1: with GOP leadership ahead of the party's take over the
Speaker 1: House next year. He has scheduled sessions with Republican representatives
Speaker 1: Jim Jordan, darryl Issa and Kathy McMorris. Rogers, Jordan and
Speaker 1: McMorris Rodgers are likely to share top committees overseeing the
Speaker 1: tech industry. When the GOP does take over. The meetings
Speaker 1: were likely scheduled before the exchange of messages between Cook
Speaker 1: and elon Muska Twitter. Several conservative Republicans, including Jordan's, have
Speaker 1: been very critical of Apple, and Jordan has become a
Speaker 1: Musk supporter in San Francisco. I'm at Baxter, Bloomberg Daybreak alright,
Speaker 1: and thanks in The shakeup continues at Disney after Bob
Speaker 1: Iger's reinstatement of CEL, the company now says changes to
Speaker 1: its management and strategy could come at a cost more
Speaker 1: from Bloomberg stud Prisner. Returning CEO, Bob Iger recently told
Speaker 1: staff he's considering changes to the company's management structure, and
Speaker 1: a regulatory filing shows plans may include modifying the way
Speaker 1: Disney releases and exhibits movies and TV shows, including the
Speaker 1: platforms for initial distribution. As a result, Disney says once
Speaker 1: determined that changes could result in imparament charges. Changes in
Speaker 1: consumer behavior favor online platforms. However, streaming services are struggling
Speaker 1: to turn a profit. Last year, Disney lost four billion
Speaker 1: dollars on its online TV businesses. In New York, I'm
Speaker 1: do Prisoner, Bloomberg Daybreak Alright, Thanks a lot, and ahead
Speaker 1: of the cashop and on Wall Street, futures for now
Speaker 1: in the green, the down futures up nine points SMP
Speaker 1: in many futures six points higher. That's of about two
Speaker 1: tents of a percent right now. And then as they
Speaker 1: emnid futures up thirty seven points, a rise of three
Speaker 1: tents of percent. You're listening to Bloomberg Daybreak and it's
Speaker 1: now six or seven on Wall Street. Let's bring in
Speaker 1: Michael barn now to find out what else is going
Speaker 1: on to New York and around the world, John, thank
Speaker 1: you very much. New York City Mayor Eric Adams is
Speaker 1: directing police and city medics to be more aggressive about
Speaker 1: getting severely mentally ill people off the streets and subways
Speaker 1: into treatment. Adams says, that's the case, even if it
Speaker 1: means involuntarily hospitalizing some people who refuse care. We can
Speaker 1: no longer deny the reality that untreated psychosis can be
Speaker 1: a cruel, in all consuming condition that often requires involuntary intervention.
Speaker 1: The mayor's announcement was condemned as wrongheaded by some civil
Speaker 1: rights groups and advocates for the homeless. The NYPD is
Speaker 1: searching for a man who got into the park Hyeh
Speaker 1: at hotel in Manhattan and left behind a suspicious white
Speaker 1: powdery substance. Police say departing guests dropped a hotel room
Speaker 1: key on the street, and someone snuck into the unoccupied
Speaker 1: hotel room and spent the night. A cleaning worker reported
Speaker 1: being sickened by the substance left behind in the room.
Speaker 1: Assistant Chief James McCarthy of the NYPD fight uproble and
Speaker 1: swapped various surfaces of the room, which initially indicated that
Speaker 1: it was there was a possible trace of amount of
Speaker 1: explosive substance. Assistant Chief McCarthy says the powder tested negative.
Speaker 1: The Senator has passed landmarked bipartisan legislation to protect same
Speaker 1: sex and interracial marriages. Senate Majority Leader Chuck Schumer. What
Speaker 1: a great day, What a great day. The bill now
Speaker 1: goes to the House where it's expected to pass. Demonstrations
Speaker 1: took place in New York City to support protesters in
Speaker 1: China against rigid zero COVID policies. I am seeing Chinese
Speaker 1: people stand up for themselves. How I wish them the
Speaker 1: best in their fight for freedom and democracy. Demonstrations took
Speaker 1: place near New York City's Chinese consulate and also at
Speaker 1: Harvard University. Closing arguments are slated for tomorrow involving former
Speaker 1: President Trump and his company's criminal fraud in the tax case.
Speaker 1: Long time Trump Organization finance chief Alan Weislberg testified in
Speaker 1: the case that prosecutors say involved avoiding taxes on company
Speaker 1: pay perks, including an apartment and luxury cars. The Christmas
Speaker 1: Tree lighting is tonight in Rockefeller Center. Last night, members
Speaker 1: of Congress gathered to light the Capitol Christmas Tree. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg quick Take, powered by more than journalists and antalyists
Speaker 1: more than a hundred twenty countries. Michael bar this is Bloomberg,
Speaker 1: John Michael, thank you, and he's six till Street. It's
Speaker 1: signed out for the Sports report being brought you by
Speaker 1: a Trice State out of good Morning, John stanns morning,
Speaker 1: John rayre laughter for the next. In Detroit, forty point
Speaker 1: first quarter, they scored at least thirty and other three.
Speaker 1: They won by thirty one forty one ten. Julius Randa
Speaker 1: led the way thirties six points and they played thirty
Speaker 1: one minutes and Dallas Luke Dons at forty one points
Speaker 1: a triple double. The man has been Golden State. They
Speaker 1: defending NBA Champs just to and ten on the road.
Speaker 1: Islanders lost in Philadelphia three to one. St. John's easy
Speaker 1: window er l i U in the Red Storm now
Speaker 1: eight No, it looks like a long season. At Syracuse,
Speaker 1: the Orange is three and four. They lost by twenty
Speaker 1: nine in Illinois. It's the last weekend of the college
Speaker 1: football regular season. Georgia, Michigan, tc U, and USC are
Speaker 1: all playing conference championship games and if they win, they'll
Speaker 1: be the four teams in the playoff. The committee has
Speaker 1: them as the top four. Ohio State after the lost
Speaker 1: in Michigan drop from second to fifth. Giants getting healthy
Speaker 1: at the right time, big games if they want to
Speaker 1: make the playoffs. Starting Sunday against red hot Washington, and
Speaker 1: the Giants could be getting several starters back from injury,
Speaker 1: including rookie tackle Evan Neil and rookie tight end Daniel Bellinger.
Speaker 1: Has the US World Cup team gets ready for its
Speaker 1: games Saturday morning against the Netherlands. All eyes on Christian Polistics.
Speaker 1: Pelvis suffered a contusion in the collision with the Iranian
Speaker 1: goalie as he scored the only goal in that window.
Speaker 1: We're on ballistic post and don't worry. I'll be ready.
Speaker 1: As US teammate is Eunice Musa and brings a lot
Speaker 1: to the team. Great guy off the field, very good,
Speaker 1: nice guy. And then on the field everyone everyone sees
Speaker 1: his brilliance. Um, he's the right time, in the right space.
Speaker 1: So I mean, um no, very very happy that he's
Speaker 1: my teammate. It's a young US team and Musa is
Speaker 1: the youngest. He was born in the Bronx and yesterday
Speaker 1: he played on his twentieth birthday. John Stashar, Bloomberg Sports.
Speaker 1: John John, thanks very much and handed the open on
Speaker 1: Wall Street. Dal futures they just turned red down. Free
Speaker 1: points has to be e many futures four points higher
Speaker 1: and the instant futures are up thirty points. You are
Speaker 1: listening the Bloomberg Game three and the Bloomberg Sports Report,
Speaker 1: brought you by Audie. Don't let somebody else drive off
Speaker 1: of the Audie model. You've always wanted to visit your
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Speaker 1: yours today, or visit Audie Offers dot com for more information, markets,
Speaker 1: headlines and breaking news. Twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business apt and at Bloomberg
Speaker 1: Quick Tape. This is a Bloomberg Business flash. Nathan Hagar
Speaker 1: futures are edging just a bit higher this morning. The
Speaker 1: dollar is slipping ahead of Fed Chair Powell's speech this afternoon.
Speaker 1: We checked the markets every fifteen minutes during the trading day.
Speaker 1: On Bloomberg SMP futures right now are up five point,
Speaker 1: Staff futures up ten, Nasdaq futures higher by twenty nine points.
Speaker 1: The tenure Treasury is up four thirty seconds the old
Speaker 1: three point field on the two year four point four
Speaker 1: seven percent. Nimex scruge moving higher, up two point six percent,
Speaker 1: or two dollars five cents, eighty dollars cents of baril
Speaker 1: for West Texas Intermedia now comex stoled up a half
Speaker 1: per center, nine dollars twenty cents at seventy nine announced.
Speaker 1: The euro one point zero three five zero against the dollar.
Speaker 1: The yen is at one thirty eight point nine three.
Speaker 1: Bitcoins up two point six percent at sixteen thousand, almost
Speaker 1: sixteen thousand, nine hundred dollars. That's a Bloomberg Business flash.
Speaker 1: And now here's Michael Barr with more on what's going
Speaker 1: on around the world. Michael, thank you very much. Nathan
Speaker 1: China's ruling Communist party has vowed to resolutely crack down
Speaker 1: on infiltration and sabotage activities by hostile forces. The statement
Speaker 1: follows the largest street demonstrations in decades over strict anti
Speaker 1: virus restrictions. The House will vote next week on the
Speaker 1: same sex marriage bill the Senate passed yesterday with bipartisan support.
Speaker 1: In the NBA, the next one, the Warriors lost in
Speaker 1: the NHL, The Islanders lost the Bruins and Capitals one
Speaker 1: at the World Cup. The US now faces the Netherlands Saturday.
Speaker 1: After beating around one nil global news twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty seven hundred journalists and analysts more
Speaker 1: than a hundred twenty countries. I'm Michael Barr, and this
Speaker 1: is Bloomberg, John, Michael, thank you, six nineteen on Little Street.
Speaker 1: We are lying from the Bloomberg Interactor Broker's studios. This
Speaker 1: is Bloomberg Daybreak fed Share Jerome Powell discusses the economy
Speaker 1: and labor market during an event hosted by the Brookings
Speaker 1: Institution in Washington, and investors are looking for any hint
Speaker 1: of a moderation in interest rates. Let's find out more
Speaker 1: from Bloomberg's Mike McKee. He joins us this morning from
Speaker 1: the Nation's capital. UM. FED members haven't speaking lately. I'm
Speaker 1: not sure Mr Market has been listening, Mike. When it
Speaker 1: comes to the fedch here, Jerome Powell, they kind of
Speaker 1: have to listen, kind of sit up and take notice. Yeah,
Speaker 1: it's like you're all box your ears. UM. I don't
Speaker 1: think Jay Pal is gonna box anyone's ears today, but
Speaker 1: he would like to sort of stop a slide in
Speaker 1: financial conditions that has gotten underway in recent weeks as
Speaker 1: markets have improved a lot. The interesting question is why
Speaker 1: markets have improved a lot. Do they think it's because
Speaker 1: the FED is going to suddenly start cutting rates because
Speaker 1: we're going into recession, or do they think that inflation
Speaker 1: is going to come down faster? Uh. Fan can't do
Speaker 1: anything about what Mr Market thinks, but they can give
Speaker 1: some guidance as to what they think. And I think
Speaker 1: I think that what will probably see today is Poul
Speaker 1: reiterating as you mentioned, what a lot of other FED
Speaker 1: officials have been saying lately, we may do a fifty
Speaker 1: basis point move, which is slightly lower than the seventy
Speaker 1: we did the last four meetings. But we're not stopping yet.
Speaker 1: We're gonna keep raising rates. So, uh, keep your sheet
Speaker 1: belts buckled. What's your definition of a pivot? I think
Speaker 1: if I were defining it, it would be the FED
Speaker 1: would stop raising rates. We'd be into a different regime
Speaker 1: a hold hold rates for ex period of time around
Speaker 1: than just slowing the pace of increase to fifty basis points,
Speaker 1: because that's still that's still a lot. I mean Historically, uh,
Speaker 1: those a fifty basis point move was considered rare. Now
Speaker 1: for some people in the markets, that's considered the Fed
Speaker 1: turning dove. Yeah, slowish, slowing the pace is a doubbish tone.
Speaker 1: That's kind of a that's a new take on things. Um,
Speaker 1: does Jerome Pale have to torpedo the labor market? This
Speaker 1: is a speech that is also going to take up
Speaker 1: the the the labor market as well. Right, Yes, he's
Speaker 1: say speaking on the labor market very timely, since the
Speaker 1: jobs report is on Friday, we get the Jolts report
Speaker 1: later this morning, which he'll have in hand when he speaks,
Speaker 1: And that's been the fed's fundamental argument that the labor
Speaker 1: market is so tight because there are so many jobs open,
Speaker 1: that they don't have to torpedo the labor market to
Speaker 1: get where they need to go. They need to unemployment
Speaker 1: a little bit higher as demands slows, but they don't
Speaker 1: think they need to go anywhere near recession levels. Now
Speaker 1: the jury is out on that. History says they can't
Speaker 1: do it. But history has been no good guide to
Speaker 1: where we are coming out of this pandemic. So educated,
Speaker 1: where is the inflation coming from? What's the source? Well,
Speaker 1: it's widespread, and that's the fans problem. Now. Originally it
Speaker 1: was in the so called transitory areas UH used cars,
Speaker 1: airline fares, things that had been repressed during the UM pandemic,
Speaker 1: and we're in short supply and therefore the price went up.
Speaker 1: But then it started to broaden out. We got the
Speaker 1: energy shock from the Russian invasion, we got UH. Basically
Speaker 1: the service industries for the most part, everybody but particularly
Speaker 1: shervis industries had trouble hiring workers, so they had to
Speaker 1: raise pay or offer bonuses, and they raised prices to
Speaker 1: accommodate that, and so it's been a broad base change
Speaker 1: and that's that's the feds frustration is the some of
Speaker 1: the tools that well, they have only really the one
Speaker 1: tool of raising industrates don effects of that doesn't affect energy.
Speaker 1: Isn't going to significantly slow hiring UH in the case
Speaker 1: that we're seeing now where it's a shortage of workers
Speaker 1: as opposed to UH slowing of demand. What's the market
Speaker 1: betting on the terminal rate? Where when they're going to
Speaker 1: stop raising rates? And does J Powell today have to
Speaker 1: adjust that view for the markets? But I think he'd
Speaker 1: like to adjust the view. He's been saying it since
Speaker 1: the last press conference on November two, that the terminal
Speaker 1: rate is going to go higher, and the market has
Speaker 1: pushed it up to roughly five percent right now. Some
Speaker 1: members of the Fed thing that need to go a
Speaker 1: little farther than that five and a quarter percent to
Speaker 1: five and a half percent. But I don't think anybody
Speaker 1: at the FED is locked in on that yet. I
Speaker 1: think five percent they would tell you they're pretty much
Speaker 1: locked in on, and they'll get closer to it at
Speaker 1: the next meeting. But beyond that, it will depend on
Speaker 1: the evolution of the economy. And I think Powell will
Speaker 1: make the case that we're not where we need to be.
Speaker 1: We will be going higher, but we can't put a
Speaker 1: number on it yet remind everybody where we are. Since
Speaker 1: we're so data dependent, what is the data telling us? Lightly?
Speaker 1: Data telling us lately that the economy is still in
Speaker 1: pretty good shape. I mean, we do get a new
Speaker 1: jobs report this week. Indications are it will still reflect
Speaker 1: strength in the labor market and that has contributed to
Speaker 1: strength over all. That and the cash cushion people built
Speaker 1: up during the pandemic have provided a cushion to demand.
Speaker 1: People have been spending down what they have and they
Speaker 1: also been spending their newly higher paychecks, and that's keeping
Speaker 1: things going. We're seeing reasonable retail sales, they haven't significantly
Speaker 1: dropped off a cliff, and we're seeing companies continue to spend.
Speaker 1: Michael Supplies appreciated. Bloomberg's Mike McKee joining us line from
Speaker 1: Washington this morning and Bloomberg Radio and TV. We'll carry
Speaker 1: Jerome pal speech live that starts to right around one
Speaker 1: three walls free time. You're listening to Bloomberg day Break
Speaker 1: and day Break brought you by the Jewish Communal Fund
Speaker 1: j C f's Doughtter Advice Fund is the smart at
Speaker 1: tax efficient way to manage your philanthropy. Open to j
Speaker 1: c F now to lock in a two tax deduction.
Speaker 1: Visit j c F n Y dot org. Broadcasting live
Speaker 1: from the Bloomberg Interactive Brokery Studio in New York, Bloomberg
Speaker 1: E Living Freedom to Washington, d C, Bloomberg to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg No.
Speaker 1: Sixty to the Country, Sirius XM to the one ninet
Speaker 1: and around the globe the Bloomberg Business at and Bloomberg
Speaker 1: Radio dot com. This is Bloomberg day Break and A
Speaker 1: six thirty on Wall Street. Good morning, I'm John Tucker.
Speaker 1: I'm Nathan Hager. We're about three hours from the open
Speaker 1: of US training. Time for the five things you need
Speaker 1: to know to start your day. Brought to you by
Speaker 1: I b k R Investment in Eiser switched to Interactive
Speaker 1: Brokers for lowest cost global trading and turnkey custody solutions,
Speaker 1: no ticket charges and no conflicts of your interests at
Speaker 1: ib KR dot com slash r I A we await
Speaker 1: remarks from FED chair J Pal Right in the middle
Speaker 1: of the trading day. Bloomberg's Michael McKee has more on
Speaker 1: what to expect which j Powell. Do the markets get.
Speaker 1: Do they get the one who came out on November
Speaker 1: two at the end of the last FED meeting and
Speaker 1: was hawkish at least that's how his remarks were interpreted.
Speaker 1: Or do we get kind of the Fed speak that
Speaker 1: we got out of the minutes last week. Probably he's
Speaker 1: going to lay the predictor for a fifty basis point move.
Speaker 1: Bloomberg's Mike McKee says. Powe will also discuss the labor
Speaker 1: market ahead of Friday's jobs report. Bloomberg Radio and Television
Speaker 1: will bring you j Pal's full speech live around one
Speaker 1: thirty pm today, will Street Time and Nathan. At the
Speaker 1: same time, we continue to hear hawkish remarks coming out
Speaker 1: of the Fed, and Bloomberg Steve Rappaport joins us live
Speaker 1: with the tails on that. Steve, Good morning, Good morning, John,
Speaker 1: and Nathan St. Louis. FED President Jim Bullard says even
Speaker 1: higher rates are vital to further combatant inflation. He estimates
Speaker 1: a rate of at least four point nine percent in
Speaker 1: the short term, but a former FED colleague thinks that's
Speaker 1: not enough. Former New York Bed President, then Bloomberg opinion
Speaker 1: columnist Bill Dudley predicts the Central Bank will pause to
Speaker 1: assess the situation once interest rates reads five and a
Speaker 1: quarter to five and a half percent. Live in New York,
Speaker 1: I'm Steve Rappaport, Bloomberg Daybreak. All right, Steve, thank you.
Speaker 1: Turning overseas now, we may be starting to see a
Speaker 1: softening COVID stance by the Chinese government. Stories of people
Speaker 1: who have survived infections are popping up in state run media,
Speaker 1: and local governments are vowing to prioritize the public over
Speaker 1: COVID control, and the virus restrictions continue to hurt China's economy.
Speaker 1: The latest pm I did it came in at its
Speaker 1: lowest reading since April. The Non Manufacturing index also dipped,
Speaker 1: and it's believed about a quarter of China's total GDP
Speaker 1: is impacted by the COVID lockdown. Back here in the US,
Speaker 1: John Congress is moving to prevent a possible rail workers strike.
Speaker 1: Senate Minority Whip John Thune of South Dakota discussed President
Speaker 1: by an urging Congress to intervene. It's something that the
Speaker 1: President needs to own. The Presidential Emergency Board, which he created,
Speaker 1: came up with a series of recommendations, and that is
Speaker 1: what everybody sort of agreed upon, with the exception of
Speaker 1: one union. So we would like to see them resolve
Speaker 1: it without having Congress have to act send a minority
Speaker 1: with John Thune made the comments on Bloomberg Sound on
Speaker 1: which air's weekdays at five pm. Wall Street Time on
Speaker 1: Bloomberg Radio. That's the five things you need to know
Speaker 1: to start your day, brought to you by Interactive Brokers,
Speaker 1: SMP futures up four points, staff Futures up one, NASTAC
Speaker 1: Futures up twenty nine points, straight ahead, your latest local headlines,
Speaker 1: and a check off sports. This is Bloomberg. Thanks Nathan
Speaker 1: wall Street. Good morning. I'm John Tucker. Let's get an
Speaker 1: update on news from around the world, and New York
Speaker 1: came for that. Here's Bloomberg's Michael Barnes, Jeahn, thank you
Speaker 1: very much. Sair. New York City plans to hospitalize more
Speaker 1: mentally ill people, even involuntarily. Mayor Eric Adams says it's
Speaker 1: a push to remove them from the streets and subways.
Speaker 1: If severe mental illnesses causin some went to be unsheluted
Speaker 1: and a danger to themselves. We have a moral obligation
Speaker 1: to help them get the treatment and care they need.
Speaker 1: Mayor Adams says they will focus on action, care and prevention. However,
Speaker 1: the mayor's announcement was condemned as wrongheaded by some civil
Speaker 1: rights groups and advocates for the homeless. There was a
Speaker 1: strange hotel bomb scare in New York City yesterday. Police
Speaker 1: say someone snuck into an unoccupied hotel room at the
Speaker 1: Park Hyat and spent the night. Then a cleaning worker
Speaker 1: reported being sickened by what was described as a suspicious
Speaker 1: white substance left behind in the room. In my PD
Speaker 1: Assistant Chief James McCarthy, the family had five keys and
Speaker 1: they believed one of them them must have dropped and
Speaker 1: he picked it up. Assistant Chief McCarthy says there was
Speaker 1: a brief evacuation of the floor of the hotel. However,
Speaker 1: the NYPDS has all tests for negative of the powder.
Speaker 1: Police are now searching for the hotel intruders, suspected to
Speaker 1: be a homeless man. The Senate pass legislation to enshrine
Speaker 1: federal protection for same sex marriages with a bipartisan vote.
Speaker 1: Senate Majority leader Chuck Schumer said the issue is personal
Speaker 1: for him, as his daughter and her wife are expecting
Speaker 1: a baby. That child will now grow up in a
Speaker 1: more accepting, inclusive, and loving world, a world that will
Speaker 1: honor their mother's marriage and give it the dignity it deserves.
Speaker 1: The bill heads back to the House, where it's expected
Speaker 1: to pass both keepers founders. Stewart Rhodes has been convicted
Speaker 1: of seditious conspiracy for a violent plot to overturn President
Speaker 1: Joe Biden's election during the January sixth Capital Riot. The
Speaker 1: chairman of the House committee investigating the Capital assault said
Speaker 1: the panel's final report would likely not be released until
Speaker 1: late December, shortly before Republicans take control of the Chamber.
Speaker 1: It's an effort underway to bring together Holocaust survivors and
Speaker 1: their children. The New York Base Center for Jewish History
Speaker 1: is launching the DNA Reunion Project, offering DNA testing kids
Speaker 1: for free through an application on its website. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analyst
Speaker 1: more than a hundred twenty countries. Michael Barr this is Bloomberg.
Speaker 1: John Michael, thank you very much. It's six thirty six
Speaker 1: on Wall Street. Time for the Bloomberg Sports Report, being
Speaker 1: brought you by your trying State Alley dealers. Check in
Speaker 1: now with John Stashower. Thanks John. Just what the Knicks
Speaker 1: needed after a couple of tough losses at home. A
Speaker 1: trip to play one of the NBA's worst team, the
Speaker 1: Pistons are five and eighteen. Knicks in Detroit won one
Speaker 1: to one than Julius Randall scored thirty six. Knicks continue
Speaker 1: to be better on the road than at the Guarden.
Speaker 1: Islanders lost in Philadelphia three to one. St. John's Bet
Speaker 1: l i U by twenty seven. The Red Storm off
Speaker 1: to an eight n OH start. The College Football Playoff
Speaker 1: Committee has its top four as Georgia, Michigan, TCU, and
Speaker 1: USC all four play conference championship games this weekend. Encouraging
Speaker 1: news on the Giants injury front. As many as six
Speaker 1: Giants who have been out could be returning for Sunday's
Speaker 1: game with Washington. The US advancing at the World Cup
Speaker 1: and three games really allowed one goal and that was
Speaker 1: a penalty kick. There was one nil over on on
Speaker 1: the Christian Polistic goal where he got injured didn't play
Speaker 1: the second half. It's a pelvic contusion, polistic poster that
Speaker 1: he'll be ready to play Saturday's Round of sixteen game
Speaker 1: against the Netherlands. US has only reached the quarterfinals one
Speaker 1: since nineteen thirty this Tiger Woods withdrew from this weekend's
Speaker 1: World Zero Golf in the Bahamas with a foot injury.
Speaker 1: He detailed his plans for the rest of his golfing career.
Speaker 1: The goal is to play just the major championships and
Speaker 1: maybe water two more. That's it. I mean, that's physically,
Speaker 1: that's all I can do. And I told you that
Speaker 1: guy's in the beginning of this year too. I mean
Speaker 1: that's I don't have much left in this leaf. So
Speaker 1: um gerel for the biggest ones and hopefully you know,
Speaker 1: and livening catches on the bottle and I'm up there
Speaker 1: in contention with a chance to win that I remember
Speaker 1: how to do that. Who wasn't able to play three
Speaker 1: of the four majors in john Sparish, I weren't Boomberg
Speaker 1: Sports John all right, thanks a lot. John is now
Speaker 1: six thirty seven on Wall Street, and it's time to
Speaker 1: take a look at stocks. Some of the names that
Speaker 1: are moving in the pre market. For that, we're joined
Speaker 1: by Bloomberg, Radio and TV markets corresponded pretty gooped, it
Speaker 1: is it me? I mean, have you noticed the number
Speaker 1: of cyber breaches lately? The number of fishing attempts that
Speaker 1: I get is another increased think it's just you. Um,
Speaker 1: I've certainly felt like there has been increased. But look,
Speaker 1: this is part of the technology, it's part of the evolution,
Speaker 1: and it's something that's really pulling ahead cybersecurity stocks. So
Speaker 1: I think that's what we're stocked with. Crowdstrikes specifically, so
Speaker 1: they would be higher the cyber security stocks because of
Speaker 1: all this. Yeah, because they're more in demand. But then
Speaker 1: you look at CrowdStrike, what happened, Well, crowd Strikes c
Speaker 1: r w D Folks is your taker. If you look
Speaker 1: at the pre market is tumbling and really taking a hit,
Speaker 1: as much as twenty percent in the pre market. This
Speaker 1: comes after they came out with a revenue forecast that
Speaker 1: missed their estimates. Now this is really interesting because the
Speaker 1: background I think is important when it comes to a
Speaker 1: lot of these cybersecurity stocks. Remember a lot of the
Speaker 1: adoption was really picked up post pandemic and that's really
Speaker 1: where you saw not just people going into cloud services
Speaker 1: like Microsoft, like Amazon for example, but really hopping into
Speaker 1: cybersecurity as well, because now they have an infrastructure that
Speaker 1: needs to we'll be protected for like better term that
Speaker 1: even that got amplified and magnified in March with the
Speaker 1: war and when the war in Ukraine began. Russia has
Speaker 1: a is a known expertise for a lot of like
Speaker 1: cyber attacks for example, so post war in Ukraine, these
Speaker 1: were the stocks actually performed really well, in line with
Speaker 1: likes of Locky Martin Bowing, a lot of your traditional
Speaker 1: event stocks. This morning, though tumbling, Like I said, revenue
Speaker 1: forecast missing their estimates, and they said it's a slowdown
Speaker 1: and annual recurring revenue, basically saying that people aren't going
Speaker 1: to spend as much on cybersecurity as they have in
Speaker 1: the past two years. But I would say it's kind
Speaker 1: of meant to be almost you kind of see a
Speaker 1: little bit of a pull back anyway, and spending across
Speaker 1: the board and CrowdStrike is no exception. I'm getting the
Speaker 1: feeling with the futures at least that we're kind of
Speaker 1: on hold this morning. Would you agree with that assessment.
Speaker 1: I think we are on hold this morning, up only
Speaker 1: two tenths of one percent. The real game change is
Speaker 1: going to be a Chairman Pal speaking at about one
Speaker 1: thirty pm UM, and that could change everything from cyberstocks
Speaker 1: to you have to like torpedo the market's given the
Speaker 1: financial conditions. I don't think he has to. I think
Speaker 1: it'll probably happen anyway. UM. But I think every time
Speaker 1: Chairman Pal speaks after every FED meeting, what you see
Speaker 1: is that it's a complete You have this kind of immediate,
Speaker 1: volatile market reaction, and then within twenty four hours the
Speaker 1: entire thing reverses because everybody else is waiting for a pivot.
Speaker 1: Whatever that means. I mean, I think I guess maybe
Speaker 1: if you want it bad enough, it'll manifest. Who knows
Speaker 1: we're wishing for it. Bloomberg Radio and TV Market squaresponded
Speaker 1: Kritty grufta, what is it pleasure to see you? Thank
Speaker 1: you for being here? Down futures right now? Uh, fourteen
Speaker 1: points higher, the SMP EMNI futures up just seven, and
Speaker 1: the NASTACK futures are thirty nine points higher, and you
Speaker 1: are listening to Bloomberg Dame break. Yeah. The Bloomberg Sports
Speaker 1: Report brought you buy Audie. Don't let somebody else drive
Speaker 1: off in the Audi model. You've always wanted to visit
Speaker 1: your tr tri state autie dealer to get behind the
Speaker 1: wheel of yours today, or visit auti Offers dot com
Speaker 1: for more information, markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business App,
Speaker 1: and at Bloomberg Dictake He's a Bloomberg Business lash, Nathan Hagar.
Speaker 1: Future is moving a little bit higher as we wait
Speaker 1: for what Chairman Powell has to stay today. Let's head
Speaker 1: right over to the first Word breaking news desk for today,
Speaker 1: the Morning Call. Here's Bill Maloney. Good morning, Bill, Hey,
Speaker 1: good morning Nathan. That's right, a modest bid to the
Speaker 1: U S futures right now, deaf futures of twenty four
Speaker 1: point sesamees game eight and n as that futures are
Speaker 1: higher by forty four. The US ten year old at
Speaker 1: three point seven three percent, Gold is of ten, oil
Speaker 1: is in the green, and bitcoin is trading higher by
Speaker 1: two point six percent. Hong Kong jumped to point two
Speaker 1: percent overnight, while up markets are also trading in the
Speaker 1: green this morning and back in the U S a
Speaker 1: busy day on the economic front, that a fifteen a
Speaker 1: DP employment change, at A thirty Q three g d
Speaker 1: P at ten o'clock pending home sales, and at one
Speaker 1: thirty Powell makes his presentation. After de Bellus night, crowd
Speaker 1: Strike reported shares a plunging twenty pre market and net
Speaker 1: app slumped after guidance missestimates. In deal News, Horizon Therapeutics
Speaker 1: disclosed talks with mgine, Santa Fee, and J and J
Speaker 1: and Another's Disney said that Higer strategy changes could result
Speaker 1: in impairments. Wrapping things up, crowd Strike was cut to
Speaker 1: hold over at Steephole live from the First Breaking News
Speaker 1: desk on the Maloney Nathan Okay, Bill, thanks to you
Speaker 1: get live breaking news over your Bloomberg type squawk on
Speaker 1: the terminal s q U A go, that's a Bloomberg
Speaker 1: business flash. Now here's Michael Barr with one. What's going
Speaker 1: on around the world, Michael, thank you very much, Nathan.
Speaker 1: The Senate pass legislation providing federal protection for same sex marriages.
Speaker 1: All Democrats present and twelve Republicans supported the measure. A
Speaker 1: new Alzheimer's drug like Kennamab is showing positive results slowing
Speaker 1: cognitive decline in early stages of the disease. Experts say
Speaker 1: there's reason for optimism and caution as there were side
Speaker 1: effects amongst study volunteers in the NBA. At the next one,
Speaker 1: the Warriors lost in the NHL, the Islanders lost bruins
Speaker 1: and capitals one at the World Cup. The US now
Speaker 1: faces the Netherlands Saturday. After beating around one nil Global
Speaker 1: news twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. I'm Michael
Speaker 1: bar This is Bloomberg, Nathan. Thank you, Michael. It is
Speaker 1: six forty nine on Wall Street. Let's turn to news
Speaker 1: in science and technology now. The Bloomberg n j i
Speaker 1: T STEM Report is brought to you by New Jersey
Speaker 1: Institute of Technology, ranked the top hundred national university by
Speaker 1: US News and World Report and the number one public
Speaker 1: university in New Jersey by Forbes. What will you make
Speaker 1: at n j I T. Learn more at n j
Speaker 1: i T dot edu. Now here's what's making news in science, Technology,
Speaker 1: engineering and math. Three Chinese astronauts have doctored their country's
Speaker 1: space station, bill overlap for several days with the three
Speaker 1: member crew that's already there, and expand the facility to
Speaker 1: its maximum size. The six month mission will be the
Speaker 1: last in the station's construction phase. It's third and final
Speaker 1: module doct earlier this month, one of the last steps
Speaker 1: in China's effort to maintain a constant crude presence in orbit,
Speaker 1: NASA is canceling a plan to satellite that was going
Speaker 1: to intensely monitor greenhouse gases over the America's NASA says
Speaker 1: it's geo carb mission, which was supposed to be a
Speaker 1: low cost satellite monitor carbon dioxide, methane and how plant
Speaker 1: life changes over North and South America, was being killed
Speaker 1: because of cost overruns. And here's a change from the
Speaker 1: tech world. Amazon's cloud unit plans to add employees next
Speaker 1: year and keep building new data centers. It's assigned a
Speaker 1: tech hiring freeze elsewhere in the company has not derailed
Speaker 1: investment plans for its most profitable business, that's the Bloomberg
Speaker 1: and j I T Stem report, John Nathan, Thanks to London,
Speaker 1: we are lying for the Bloomberg entry had to broker
Speaker 1: studios where it is six fifty on Wall Street, and
Speaker 1: that means it's time to check what's going on in
Speaker 1: d C. And some of the top stories in our
Speaker 1: nation's capital include election day on Capitol Hill, congratulate leaders
Speaker 1: say they're gonna active Evanda rail strike to Senate, to
Speaker 1: Republicans edging away from Trump ahead of and the January
Speaker 1: six Panel unlikely to release a report until late December. Also,
Speaker 1: President Biden's first state dinner is gonna pair mcrown festivities
Speaker 1: and tens. And let's take a deeper dive into some
Speaker 1: of these stories this morning with Bloomberg Government reporter Emily Wilkins.
Speaker 1: I'm going to turn to again thanks for being with us.
Speaker 1: UM Election Day on Capitol Hill. Who's doing day electing?
Speaker 1: So this is going to be a huge day for
Speaker 1: our House Democrats. They have been led, obviously by Speaker
Speaker 1: Pelosi for well over a decade now, and today there
Speaker 1: are going to lacked new leadership. Um, it's not going
Speaker 1: to be too much of a competition, a little bit
Speaker 1: more of a coronation. Uh, We're going to see Hakim Jefferies,
Speaker 1: a Congressman from Brooklyn, assumed to that top spot. He's
Speaker 1: running uncontested. You're also going to see Catherine Clark of
Speaker 1: Massachusetts p Aguilar of California's step into the number two
Speaker 1: and number three positions. This, of course, comes after Speaker
Speaker 1: Pelosi announced that she would be stepping down, that she
Speaker 1: would not run for leadership again, even though she will
Speaker 1: remain in Congress. Last night, she was bestowed the title
Speaker 1: of Speaker Emeritus. You're also going to see Jim Clyburn,
Speaker 1: who was a member of leaderships stick around, but he's
Speaker 1: leaving the top three. He's going to be helping out
Speaker 1: as assistant Minority leader. Uh to these this new generation
Speaker 1: that comes in, and it really is a generational shift.
Speaker 1: I mean, the three folks who are leading House Democrats
Speaker 1: right now, they're all in their eighties. This new generation
Speaker 1: that's coming in is about thirty years younger on the whole,
Speaker 1: and it just signals a sort of next generation shift
Speaker 1: for Democrats trying to make sure that they are continuing
Speaker 1: to appeal to younger members, to a younger face, and
Speaker 1: also simply the passing to the guard that that has
Speaker 1: to happen, you know in these parties every once in
Speaker 1: a while. What don't we know about Hakim Jefferies? How
Speaker 1: different is he from Nancy Pelosi, and of course he's
Speaker 1: gonna have a different title because the Republicans will will
Speaker 1: be taking over. He will he will be minority leader,
Speaker 1: which to be fair, Pelosi was too for a period
Speaker 1: of time. Obviously, certainly he hopes to one day become
Speaker 1: Speaker and it would be historic he would become the
Speaker 1: first black Speaker of the House. UM. Today, this election,
Speaker 1: he is one step closer to being the first black
Speaker 1: member to represent to leave one of the major parties
Speaker 1: in Congress. UM. So certainly it is it is a
Speaker 1: historic day. UM. Jeffries, he's currently called a conference chair
Speaker 1: and that just really means that what he has done
Speaker 1: over the last couple of years, because he's really worked
Speaker 1: on just trying to keep House Democrats united and together. Um.
Speaker 1: You know, he's been able to work with the more
Speaker 1: moderate members of his party, the more progressive members of
Speaker 1: his party. Um, He's he's been able to really sort
Speaker 1: of bring everyone together and very very much seen as
Speaker 1: a unifier candidate. You know. Obviously, the trick with Democrats
Speaker 1: is that they always called themselves that big ted party.
Speaker 1: They've got so many members, so many ideologies. Jeffries has
Speaker 1: tried to work to make sure that he has allies
Speaker 1: in every corner of the party. Well, let's move on
Speaker 1: to this potential rail strike. How comfortable is Congress intervening.
Speaker 1: I mean, they've done this in the past. It's been
Speaker 1: a while since the last time they interviewed in something
Speaker 1: like this. But which what's the situation. Well, no one's
Speaker 1: got the warm and fuzzies about what Congress is going
Speaker 1: to be doing here, particularly Democrats. I mean, they've pitched
Speaker 1: themselves as pro labor, pro union, and now what they're
Speaker 1: basically doing is kind of telling the union, Hey, you know,
Speaker 1: you can't have your strike. We're gonna pass this uh
Speaker 1: disagreement that you don't necessarily want. And the way that
Speaker 1: they're sort of trying to soften the blow is, at
Speaker 1: least in the House, you're going to see two votes.
Speaker 1: Number one a vote on making sure that that contract
Speaker 1: gets into place, the number two of votes saying that
Speaker 1: real workers should have not just one paid sick day,
Speaker 1: but move that up to seven. Um. And this is
Speaker 1: something that you're Biden and Democrats are really caught between
Speaker 1: a rock and a tough type place here. They certainly
Speaker 1: want to be seen as pro union and pro labor.
Speaker 1: Um but on the other hand, they know that if
Speaker 1: there was, if disagreement was to not be ratified, that
Speaker 1: would have major impacts for the economy, major impacts for
Speaker 1: un employment, and so that's why they're moving as they
Speaker 1: are today. I think. Of course, then the bigger question
Speaker 1: becomes in the Senate. If they and wind up getting
Speaker 1: it through there, you would need that sixty vote threshold.
Speaker 1: So you're not just gonna be able to move it
Speaker 1: with Democrats. You're going to have to see some Republicans
Speaker 1: join them on it. There's some confidence that can happen
Speaker 1: just because of what the stakes are right now, but
Speaker 1: we are expecting to see at least a couple more
Speaker 1: of the more progressive Democrats say that they just can't
Speaker 1: support it and then need that Republican support to get
Speaker 1: it over the finish line. The next story, you gotta
Speaker 1: imagine that Donald Trump is feeling a little lonelier of
Speaker 1: this morning within the Republican ranks. Yeah, Trump, you know,
Speaker 1: it's it's kind of been an interesting relation to see
Speaker 1: the relationship with him and the rest of the Republican
Speaker 1: Party posts the mid terms, and certainly there were really
Speaker 1: really major concerns that came after Trump was seeing dying
Speaker 1: at Mara Lago with a known white nationalists, as well
Speaker 1: as Kanye West, who's also recently found himself in some
Speaker 1: hot water given comments that he has made that has
Speaker 1: publicly denigrated Jews. And after this, a number of Republican
Speaker 1: leaders have come out have said that Trump, you know,
Speaker 1: should not have dined um with a known white supremacist. Um,
Speaker 1: that he should have distanced himself from him. Uh, you're
Speaker 1: seeing this both from Mitch McConnell obviously the number one
Speaker 1: Senate Republican, as well as John Thune, who's the number
Speaker 1: two Senate Republicans. So really sort of seeing senators trying
Speaker 1: to put some distance between themselves and Trump over this
Speaker 1: particular incident. Also interesting. UM. I was chatting yesterday with
Speaker 1: a number of Republicans, including Marjorie Taylor Green, who said
Speaker 1: that she did speak with Trump after he had this
Speaker 1: controversial dinner and that the White House is going to
Speaker 1: be not necessary, not the White House, but rather Trump's
Speaker 1: folks are going to try and make sure that they
Speaker 1: are vetting people more before they allow the former president
Speaker 1: to sit down and have dinner with them, like dining
Speaker 1: with Marjorie Taylor Green. UM, Emily, I'm just kidding, Bloomberg
Speaker 1: Government reporter Emily Wilkins. You can read more about these
Speaker 1: stories on Bloomberg dot com or the Bloomberg Ternal Reminder.
Speaker 1: You can follow all the latest on Bloomberg Radio in Washington.
Speaker 1: That's Bloomberg at one oh five point seven FM HD two. Thanks,
Speaker 1: I've appreciate it. DAL futures right now of thirty two
Speaker 1: points smp E, Many futures nine points higher, that's up
Speaker 1: to tenths of a percent, and the night as they game,
Speaker 1: Many futures are up forty eight points since a rise
Speaker 1: of four tenths of the eight percent. And a a reminder
Speaker 1: Bloomberg Radio and Bloomberg Television will carry live for you
Speaker 1: around one thirty Well Street time and addressed by FED
Speaker 1: Chairman Jerome Palell. Certain to be market moving today for
Speaker 1: Nathan Hagar, John Tucker, you have been listening to Bloomberg
Speaker 1: Daybreak and just to add Bloomberg Surveillance with Tom Keane,
Speaker 1: Lisa Bramowitz and John Farrell. This is Bloomberg