Speaker 1: Live from the Bloomberg Interact at Brooker Studios. Is Bloomberg
Speaker 1: day Break for Tuesday, September two Coming up this hour,
Speaker 1: Wall Street prepares for the latest reading on inflation. Coleman
Speaker 1: Sacks begins its biggest round of job cuts since the pandemic.
Speaker 1: The Justice Department ramps up its investigation into the election,
Speaker 1: and Ukraine might be turning the corner in the war
Speaker 1: with Russia. We're learning more about the mother accused of
Speaker 1: drowning her children at Coney Island Beach. Plus, Senator Graham
Speaker 1: plans to introduce national abortion restrictions on Michael Barr. More ahead,
Speaker 1: I'm Don Stage toward swards, the Mets Walk of the Cuve.
Speaker 1: The Yankees visit the Red Sox Tonight Monday Night Football
Speaker 1: Seattle Top, Denver. That's all s. Tradyhead on Bloomberg Daybreak
Speaker 1: on Bloomberg. He Live in Free on New York Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine
Speaker 1: sixties and Francisco Syrius x M one nineteen and around
Speaker 1: the world Old on Bloomberg Radio dot Com and via
Speaker 1: the Bloomberg Business App. Good Morning, I'm Nathan Hagar and
Speaker 1: I'm Karen Moscow. US DOT Index futures on the rise
Speaker 1: this morning. We're coming up to five o one on
Speaker 1: Wall Street, and we checked the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg, SNP futures up sixteen
Speaker 1: points down, futures of a hundred seventeen and nasday futures
Speaker 1: up forty six. The tenure treasury up ten thirty seconds.
Speaker 1: You have three point three one per cent, Nathan Karen
Speaker 1: for markets today it is all about inflation. We get
Speaker 1: the latest read on US consumer prices at eight thirty am.
Speaker 1: Wall Street Time forecast call for inflation to ease, but
Speaker 1: Crawl Institute chief economist Megan Green says there is a
Speaker 1: risk prices go in the other direction. Well, I think
Speaker 1: we'll see headline inflation coming down thanks to lower gas crisis,
Speaker 1: but in terms of core inflation, we might see a
Speaker 1: take up very moderately. I actually think the risks are
Speaker 1: on the downside. There's a possibility it could fall, but
Speaker 1: generally I think it will take up very moderately, and
Speaker 1: that's good news that it's increasing at a slower rate.
Speaker 1: But I don't think that the fig can breathe a
Speaker 1: sigh of relief just yet. Megan Green at kral says
Speaker 1: an energy crunch could push prices higher in the coming months.
Speaker 1: Economist surveyed by Bloomberg expect inflation for August to come
Speaker 1: in an annual rate of eight point one. I headed
Speaker 1: that a report Nathan the mood and equity markets is
Speaker 1: risk on Stalks in the Asia Pacific climbed over night
Speaker 1: and Bloomberg. Juliette Sally joins us with the recap from Sydney, Australia.
Speaker 1: Good morning, Juliette, Good morning, Karen. Text stalks led the games,
Speaker 1: with Apple suppliers rallying amid strong preorder data for the
Speaker 1: latest iPhones South Korea has cost me rose more than
Speaker 1: two and a half percent as investors played catch up
Speaker 1: after Monday's holiday. If You'll show you one weekend. Despite
Speaker 1: yet another strong fixed from the PBOC four in a row,
Speaker 1: the bias was below two hundred PIPSLO for the first
Speaker 1: time in a week. M Life strategist highlighting this suggests
Speaker 1: that PBOC could be easing off slightly in its battering
Speaker 1: of you one bearish bits in Sydney. Juliette Sally Bloomberg Daybreak, Right, Juliet,
Speaker 1: thanks back here in the US. Couple of corporate names
Speaker 1: we're watching this morning. Shares of Peloton are down more
Speaker 1: than two percent in early trading. That's afterwards chairman and
Speaker 1: co founder John Folly is stepping down from the company.
Speaker 1: His resignation takes effect on Monday. Well, on the flip side, Nathan,
Speaker 1: we're seeing shares of Oracle Game. They're up almost two
Speaker 1: percent after earnings are in line with estimates. Sales for
Speaker 1: Oracle jumped eight percent in the recent quarter thanks to
Speaker 1: strength and cloud computing. Elsewhere on Wall Street, job cuts
Speaker 1: are in focus this morning. Goldman Sachs is going ahead
Speaker 1: with its biggest round of cutback since the start of
Speaker 1: the pandemic. Sources say the bank plans to eliminate several
Speaker 1: hundred roles starting this month. Bloomberg's Valerie Titel says the
Speaker 1: cuts will be based on performance. They usually have an
Speaker 1: annual calling cycle, but I think what's notable about this
Speaker 1: one is that they are resuming normal activity after the pandemic.
Speaker 1: This comes after some pretty steep declines and investment banking activities,
Speaker 1: notably I P O S and junk debt issuance, creating,
Speaker 1: you know, quite some conditions for some significant layoffs to
Speaker 1: begin post pandemic. Bloomberg's Valerie tits Hele says Goldman will
Speaker 1: use the cuts to weed out low performers. The move
Speaker 1: could signal a chill setting in across the finance industry
Speaker 1: as revenue slumps from record highs. Let's turn to politics now, Nathan.
Speaker 1: We're an investigation into the election is heating up. The
Speaker 1: Justice Department is ramping up its probe into the plot
Speaker 1: to overturn the presidential election, issuing dozens of subpoenas targeting
Speaker 1: campaign operatives and allies of former President Trump. Bloomberg's Amy
Speaker 1: Morris has details from our newsroom in Washington about forty
Speaker 1: new subpoenas were issued, the focus appearing to be the
Speaker 1: alleged scheme to have fake or alternate electors come to
Speaker 1: Washington to delay the certification of Joe Biden as president.
Speaker 1: The New York Times reports the Justice Department also seized
Speaker 1: the phones from Trump's lawyer Boris Epstein and campaign strategist
Speaker 1: Mike Roman. At the time says some of the new
Speaker 1: subpoenas focus on activities of the Save America political action Committee,
Speaker 1: which is the main political fundraising arm for Trump since
Speaker 1: he left office in Washington. Maybe more as Bloomberg Day Break. Okay, Amy,
Speaker 1: thank you, Let's turn our attention to Ukraine now. The
Speaker 1: country is asking for even more weapons to build on
Speaker 1: its recent successes in retaking territory from Russia. President vladimir's
Speaker 1: Lensky says forces have recaptured more than twenty three hundred
Speaker 1: square miles this month. Former US Defense Secretary Leon Panetta
Speaker 1: says this could market turning point in the war. I
Speaker 1: would say it's both pivotal and dangerous. It's pivotal because
Speaker 1: to have Ukraine conducting a strong offensive that's working is
Speaker 1: incredibly important to putting real pressure on both Putin and
Speaker 1: the Russians. It's dangerous because Putin, if he's boxed in,
Speaker 1: obviously will have to strike that. Former Defense Secretary Leon
Speaker 1: Panetta spoke with David Weston on Bloomberg's Balance of Power.
Speaker 1: Catch the program weekdays at noon Eastern on Bloomberg Radio
Speaker 1: and Television, plus the Balance of Power podcast on Apple,
Speaker 1: Spotify and anywhere else you get your podcasts. And finally,
Speaker 1: Nathan to the Okay, where ceremony is remembering Queen Elizabeth
Speaker 1: continue this week Morners in Scotland are paying respect to
Speaker 1: the Queen this morning and here with more is Bloombergley
Speaker 1: and Garran's. Thousands of people have been queuing through the
Speaker 1: night to see the queen's coffin at St Charles Cathedral
Speaker 1: in Edinburgh. The Queen's coffin will rest in the cathedral
Speaker 1: until about five pm local time today before beginning the
Speaker 1: journey back to London. It will then be taken to
Speaker 1: Buckingham Palace and then to Westminster Hall, where the Queen
Speaker 1: will lie in state for four days. A National Minutes
Speaker 1: silence will be held at eight pm on Sunday, the
Speaker 1: night before the Queen's funeral in Westminster Abbey. And Bloombergley
Speaker 1: and Garan's reporting from London. We'll bring you live coverage
Speaker 1: to the Queen's funeral coming up Monday, right here on
Speaker 1: bloomberg Daybreak. All right, Karen, thank you. Let's look ahead
Speaker 1: to the market open now. Futures are moving higher. We
Speaker 1: have SMP futures up eighteen points now, futures up a
Speaker 1: hundred thirty five now. Stack futures are higher by fifty
Speaker 1: three points. The tenure treasury is up nine thirty seconds
Speaker 1: yield three point nimex crude on the rise by one
Speaker 1: and a quarter percent of a dollar nine eighty eight
Speaker 1: dollars eighty seven cents of barrel the euro one point
Speaker 1: one zero five five against the dollar. Local headlines and
Speaker 1: a check of sports. Just ahead. This is Bloomberg and
Speaker 1: it's now five oh seven on Wall Street, seventy one
Speaker 1: rainy degrees in Central Park early dealing with accidents all
Speaker 1: these wet roads southbound west side highways. Got a crash
Speaker 1: on more coming up in traffic. First Michael Barr with
Speaker 1: what else is going on in New York and around
Speaker 1: the world. Good morning, Michael, Good morning, Nathan Attorney in
Speaker 1: A warning is just expired for people in the Breezy
Speaker 1: Point area. That's New York's Queen's County in King's County.
Speaker 1: It was issued until five am. So far, no early
Speaker 1: word yet of any damage. Keep in mind though flood
Speaker 1: warnings are in effect for a lot of the New
Speaker 1: York area. The mother of three children who were found
Speaker 1: dead at Coney Island Beach was questioned by the YPD
Speaker 1: for about six hours before she was taken to a
Speaker 1: hospital for a psychological evaluation. Yesterday, police found the bodies
Speaker 1: of seventy year old Zachary Murdy, four year old Liliana,
Speaker 1: and three month old Oliver Bunderev in yp D. Chief
Speaker 1: of Department Kenneth Corey says the thirty year old mother
Speaker 1: was found two miles down the board of walk from
Speaker 1: her home in what appeared to be a catatonic state.
Speaker 1: She was wet, she was barefoot, um, and she was
Speaker 1: not um communicative to the officers. The community was left
Speaker 1: in shock over the depths of the children into somebody,
Speaker 1: take them to somebody, police say. Family members claimed the
Speaker 1: mother confessed that she drowned her children, but she has
Speaker 1: not said anything directly to investigators. Republican Senator Lindsey Graham
Speaker 1: plans to introduce legislation to restrict abortion nationally. The South
Speaker 1: Carolina senator is scheduled an announcement at the capital for
Speaker 1: later today. Graham's action raises the profile of abortion rights
Speaker 1: as an issue for the midterm elections. Negotiations between the
Speaker 1: unions representing railroad workers and management have stalled. This means
Speaker 1: some amtrack riders could experience delays and could cause the
Speaker 1: rebounding economy to lose momentum. The deadline for a deal
Speaker 1: is just after midnight Frinday. And last night's Emmys on NBC,
Speaker 1: HBO took home the Top award for the sixth time
Speaker 1: in eight years, thanks to succession for Top Drama and
Speaker 1: White Lotus for Best Limited Series. Apple's Ted Lasso repeated
Speaker 1: as Best Comedy. Kawang Dong Yuk made history as the
Speaker 1: fourth South Korean director to win for Best Drama for
Speaker 1: Squid Game since Kid Game got footing nomination at the Emmy's.
Speaker 1: People keep telling me like I made a history, But
Speaker 1: I don't think I made a history by myself, because
Speaker 1: it was you who opened up the doors for Skid
Speaker 1: Game in Balios. Here tonight at the Emmys, Squid Games
Speaker 1: Lee Jung j One Outstanding Actor in a Drama. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than journalists and analyst
Speaker 1: for more than twenty countries. Michael Barron, This is Bloomberg, Nathan.
Speaker 1: Thanks Michael. Coming up to five ten on Wall Street
Speaker 1: time for the Bloomberg Sports Update. Good morning, John, Station morning.
Speaker 1: Nathan mets back home from a road trip that saw
Speaker 1: them win two or three in Pittsburgh two or three.
Speaker 1: In Miami, now facing another subpar team, the Cubs, but
Speaker 1: Chicago got to Chris Bassett pair of early home runs.
Speaker 1: Bassett gone on the fourth inning having allowed five runs.
Speaker 1: The Cubs won five to two, but Atlanta lost in
Speaker 1: San Francisco three to two. Brads third loss in a row.
Speaker 1: Mets remain game and a half ahead Yankees and Red Sox.
Speaker 1: Tonight in Boston, Garrett Cole on the mount, the two
Speaker 1: teams behind the Yanks met Toronto on a bow Buchette
Speaker 1: Ain't Sennying homer top Tampa Bay three to two, so
Speaker 1: the Blue Jays now in second place, five and a
Speaker 1: half games behind the Yanks and the race trail by six.
Speaker 1: The first NFL Sunday saw three teams Cleveland, Pittsburgh, New
Speaker 1: Orleans win games with last second field goals of over
Speaker 1: fifty yards. Last night in Seattle, Denver tried to win
Speaker 1: with a sixty four yard field goal it missed. In
Speaker 1: the Seahawks one seventeen sixteen, Broncos had time to try
Speaker 1: and get a first down move closer, but elected to
Speaker 1: try the long kicks of Russell Wilson loses in his
Speaker 1: return to Seattle in his first game with Denver. The
Speaker 1: Jets Sunday bring their thirteen game month of September, losing
Speaker 1: with Drake that Cleveland Jets offense struggled in the loss
Speaker 1: of Baltimore, but took rob Sala feels it will improve
Speaker 1: those little errors on the offense. Was was having the
Speaker 1: first half stop happening. It's going to be explosive and
Speaker 1: none it carries out in the second half. You're you're
Speaker 1: just gonna feel it. Uh and and in a way
Speaker 1: it does just click where you're just stacking up there
Speaker 1: after day after day and um and it's really really
Speaker 1: cool when it does happen because it just absolutely pops
Speaker 1: off the tape. Had Sunday facing the Brown's team that
Speaker 1: just wanted season open for the first time. It's two
Speaker 1: thousand four. Giants got their first in two thousand sixteen.
Speaker 1: This Sunday, they host Carolina. John stash were Bloomberg Sports,
Speaker 1: Thank you, John SMP futures right now up seventeen points.
Speaker 1: South futures of A hundred twenty three futures are higher
Speaker 1: by forty seven points. Ahead of August cp I, we
Speaker 1: preview the latest read on inflation next with Bloomberg's Michael McKee,
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather. Showers and
Speaker 1: storms should end by right around lunchtime. We'll get up
Speaker 1: to the low eighties today, sunshine, low eighties tomorrow, sunny Thursday,
Speaker 1: but cooler with a high your seventy five degrees right now,
Speaker 1: some showers seventy one degrees. Markets, headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot com. The
Speaker 1: Bloomberg Business at end at Bloomberg Quick Tape is a
Speaker 1: Bloomberg Business Flash and I'm Karen Moscow. And US dot
Speaker 1: index futures are advancing ahead of key inflation data. Treasury
Speaker 1: yield to dipping in the dollar extending at a climb.
Speaker 1: Contracts on the SNP five and nausdack on rising this
Speaker 1: after the SNP completed its best four days search since June,
Speaker 1: following robust reordered data for Apple's iPhone fourteen pro Max.
Speaker 1: We check the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg s and P Future is up sixteen
Speaker 1: points right now, down futures up a hundred twenty NASDAG
Speaker 1: features up forty five. The decks in Germany's up a
Speaker 1: tenth of upper set ten, Your treasury up nine thirty seconds.
Speaker 1: You have three point three two percent. The yield on
Speaker 1: the two year three point five two percent. Ni Max
Speaker 1: Screwed oil is up one percent or eighty three cents
Speaker 1: at eighty eight dollars sixty one cents a barrel. Comics
Speaker 1: called down a quarter percent or four dollars forty cents
Speaker 1: is seventeen thirty six twenty announced the euro one point
Speaker 1: five zero against the dollar. British found one point one
Speaker 1: seven oh seven the end at one forty two points
Speaker 1: to eight, and Bitcoin and lower down a third of
Speaker 1: u percent at twenty two thousand, three hundred and thirty dollars,
Speaker 1: and a consumer price index is at an e thirty
Speaker 1: Wall Street time as a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world. Uncle,
Speaker 1: good morning, Good morning Karen. The coffin of Queen Elizabeth
Speaker 1: the Second will head from Edinburgh, Scotland to London. The
Speaker 1: Queen will lion state in Westminster Hall for four days.
Speaker 1: In London. More than thirty people associated with former as
Speaker 1: a been Trump and efforts to influence the election results.
Speaker 1: Have receive federal grand jury subpoenas. Meanwhile, Trump and the
Speaker 1: Department of Justice agreed that Judge Raymond Derry would be
Speaker 1: a suitable choice for an outside special master to review
Speaker 1: the documents taken from Trump's tomorrow law go Home as
Speaker 1: part of an investigation into his handling of government records.
Speaker 1: Monday Night Football, the Seahawks upset the Broncos seventeen sixteen
Speaker 1: in baseball, the mental loss to the Cubs five to
Speaker 1: the Giants. One Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven under journalist and analysts more than a hundred
Speaker 1: twenty countries. Michael bar this is Bloomberg, Nathan, Michael. Thanks,
Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak and for markets
Speaker 1: this morning, it is all about inflation. We are just
Speaker 1: about three hours or so away from the release of
Speaker 1: the August Consumer Price Index. Read that is going to
Speaker 1: be very important. We assume for the Federal Reserve, it's
Speaker 1: fight against inflation. Joining us now ahead of the CPI print.
Speaker 1: Michael McKee, Bloomberg's economics and policy correspondent from Bloomberg Radio
Speaker 1: and Television, Mike, Good to have you with us in
Speaker 1: studio this morning. You look at the ECO screen, ECO
Speaker 1: go on the Bloomberg terminal. Looks like we're expecting a
Speaker 1: drop in overall inflation, but a slight uptick in the
Speaker 1: core reading. What the FED really cares about? Why is that? Well,
Speaker 1: the car gives you a better picture of where inflation
Speaker 1: is going, because, of course the headline is influenced by
Speaker 1: commodity prices, particularly energy, which is the reason we're going
Speaker 1: to see drop today. Probably is because energy prices, particularly
Speaker 1: gasoline prices in the US fell significantly during the month
Speaker 1: of August seven point seven. So we should see a
Speaker 1: drop in the headline. But there are a number of
Speaker 1: categories in the core where there is still strength, including housing.
Speaker 1: The rental price cost that goes into CPI is likely
Speaker 1: to keep that boosted. Plus there is a base effect
Speaker 1: high inflation last year so at this time, so the
Speaker 1: Fed is probably going to look at this as progress
Speaker 1: but not nearly sufficient. Is there anything that I mean
Speaker 1: that there's isn't anything that the FED can do about
Speaker 1: base effects that's going to roll into the reading. We
Speaker 1: get today. What can the FED do at this point
Speaker 1: to get more of a handle on that core inflation. Well,
Speaker 1: it's interesting because a lot of people on Wall Street
Speaker 1: are saying, it's not what the Fed does in reaction
Speaker 1: to this CPI report, but what the markets do. If
Speaker 1: the markets think the Fed is going to back off
Speaker 1: and react positively to dropping the headline cp I, the
Speaker 1: feeling is that might be a mistake because the FED
Speaker 1: seems committed to seventy basis points at the next meeting,
Speaker 1: and their view is going to be not you know, necessary,
Speaker 1: but not sufficient in terms of the drop in prices.
Speaker 1: They're gonna want to see continued progress and significant progress,
Speaker 1: particularly in the core. As to how they can bring
Speaker 1: that about, basically by keeping rates high enough that demands
Speaker 1: slows some and then waiting. There isn't much you can
Speaker 1: do about the speed with which housing goes into the CPI.
Speaker 1: It could be a year before we see the current declines,
Speaker 1: you know, prices and rents start to impact the CPI report.
Speaker 1: So the Fed's gotta keep the pedal to the metal
Speaker 1: and uh, keep their eyes on inflation and not celebrate
Speaker 1: too much. You talk to Fed speakers, central bankers, regularly, Mike.
Speaker 1: Have they given you any reason to think that if
Speaker 1: we did see a drop in the overall inflation print
Speaker 1: that it would give them reason to let up on
Speaker 1: the gas. Yeah. They they're not saying that they're basically
Speaker 1: committed to seventy five. The feeling at the Fed seems
Speaker 1: to have shifted over the last couple of weeks to UH,
Speaker 1: from reacting to the data on a month by month
Speaker 1: basis to deciding we're going to get to a slightly
Speaker 1: restrictive rate just some above neutral, which different members defined
Speaker 1: different ways. Some say that's four, some say it's just under.
Speaker 1: But the feeling is they're gonna get there, and then
Speaker 1: they're gonna turn data dependent. They're gonna want to have
Speaker 1: the economy UH contracting somewhat, maybe not shrinking, but growing
Speaker 1: at a much lower pace, and that should bring down
Speaker 1: some of the other price pressures out there. Then they
Speaker 1: leave it there for a while until they're convinced that
Speaker 1: inflation is definitely going down towards their two percent target. There,
Speaker 1: last minute here, Mike, Given all the factors that go
Speaker 1: into course cp I, what are you seeing, what are
Speaker 1: you looking for as the main drivers of core inflation
Speaker 1: and the reading we could get later this morning. Housing
Speaker 1: is going to be the main driver. It's of the CPI,
Speaker 1: so it has a huge weight, which is one of
Speaker 1: the differences between that and the feds pc index that
Speaker 1: they tend to watch has a lower weight out housing,
Speaker 1: but also new cars prices are still expected to be rising,
Speaker 1: and then we'll have to see if there's some categories
Speaker 1: where supply chains are still causing problems. That's hoping that's
Speaker 1: starting to normalize but hasn't so far, Yeah, or it
Speaker 1: cons back to that h T word. We we don't
Speaker 1: say anymore, right. Mike McKie are economics and policy correspondent
Speaker 1: for Bloomberg Radio and Television, helping us get ready for
Speaker 1: the all important August Consumer Price Index. The overall reading
Speaker 1: expected to drop four tenths percent, according to economist surveyed
Speaker 1: by Bloomberg, to an annual reading of eight point one percent,
Speaker 1: while the core that excludes food and energy is expected
Speaker 1: to rise just a bit, by two tenths of a
Speaker 1: percent to six point one year over year. Looking ahead
Speaker 1: to the market, open futures are showing a little bit
Speaker 1: of resilience. You've got us in p futures right now.
Speaker 1: Have fifteen points down, futures up A hundred fourteen and
Speaker 1: NASTAC futures are higher by forty two points tenure treasury
Speaker 1: up nine thirty seconds. The yield three point three. This
Speaker 1: is Bloomberg Bloomberg eleven three oh Whether any showers and
Speaker 1: storms should end by mid day today We'll get into
Speaker 1: the low eighties, sunshine low eighties tomorrow, sunny, mid seventies
Speaker 1: by Thursday. Right now seventy two degrees in Central Park.
Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York,
Speaker 1: Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg N
Speaker 1: sixteen to the Country Sirius XM SHDO one nineteen and
Speaker 1: around the globe the Bloomberg Business app and Bloomberg Radio
Speaker 1: dot Com. This is Bloomberg Daybreak. It's five thirty on
Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow.
Speaker 1: We're just about four hours away from the open of
Speaker 1: US trading. Let's get you up to date on the
Speaker 1: news you need to know at this shour you futures
Speaker 1: are higher ahead of the latest data on inflation. We
Speaker 1: get a reading on US consumer prices for August at
Speaker 1: eight thirty am. Wall Street Time forecast call for inflation
Speaker 1: to ease to an annual rate of eight point one
Speaker 1: per cent, and here with Moore is Bloomberg Economics correspondent
Speaker 1: Michael McKee. Falling energy prices likely held down headline inflation
Speaker 1: in August, but higher costs for housing and education or
Speaker 1: forecast to have pushed core inflation higher. Beneficials have all
Speaker 1: but said they're locked in on a three quarters percentage
Speaker 1: point increase for interest rates next week. Higher core rate
Speaker 1: won't affect their thinking, but it will serve as a
Speaker 1: reminder the fight against inflation is far from over. Michael McKee,
Speaker 1: Bloomberg Gay break all right, Mike, thanks. Global stocks are
Speaker 1: slightly higher ahead of that CPI report, stocks in Europe
Speaker 1: and Asia posting moderate gains. S ANDP futures are up
Speaker 1: sixteen points well elsewhere on Wall Street. Nathan job cuts
Speaker 1: are in focus this morning. Goldman Sachs is going ahead
Speaker 1: with its biggest round of cutback since the start of
Speaker 1: the pandemic. Sources tell us the bank plans to will
Speaker 1: eliminate several hundred roles starting this moth. Bloombery Sly big
Speaker 1: Well says the move could signal h hills setting in
Speaker 1: across the industry. The other investment banks they faced similar challenges.
Speaker 1: They're battling inflation. They have also seen a slump in
Speaker 1: dealmaking in investment banking, and we understand that a lot
Speaker 1: of the cuts with Goldman Sex were in that division.
Speaker 1: And so we can expect that this sets the tone
Speaker 1: a little bit for broader Wall Street and that week
Speaker 1: we might start see other banks following suit and Bloombery
Speaker 1: say big Well says the cursed Goldman will be used
Speaker 1: to weed out low performers. Let's turn our attention to
Speaker 1: Ukraine now, Karen. The country is asking for more weapons
Speaker 1: to build on its recent successory taking territory from Russia.
Speaker 1: President Vladimir Zleinsky says forces recaptured more than twenty three
Speaker 1: hundred square miles this month. AGNEYA. Gregis, as a senior
Speaker 1: fellow at the Atlantic Council, I do believe the spells
Speaker 1: a turning point, and at this point we could suggest
Speaker 1: that either Russia is facing defeat or it's facing a stalemate.
Speaker 1: Agneagregas with the Atlantic, so says the areas Ukraine is
Speaker 1: securing could give them a strategic advantage over Russia. And finally,
Speaker 1: in politics this morning, Nathan, the Justice Department is ramping
Speaker 1: up its probe into the plot to overturn the presidential election.
Speaker 1: The d o J is issuing about forty new subpoenas
Speaker 1: to campaign operatives and allies of former President Donald Trump.
Speaker 1: The New York Times is also reporting that phone records
Speaker 1: were seized from a Trump lawyer and a campaign strategist.
Speaker 1: And again, futures are moving higher this morning, and straight ahead,
Speaker 1: we had your latest local headlines, plus the check of sports,
Speaker 1: and this is Bloomberg. Thanks in Wall Street, seventy degrees
Speaker 1: in Central Park flooding as East found Belt Parkway closed
Speaker 1: at Fourth Avenue. Details coming up in traffic. First Michael
Speaker 1: Barr with what else is going on in New York
Speaker 1: and around the world. Michael, thank you very much, Nathan.
Speaker 1: The thirty year old mother who is accused of drowning
Speaker 1: her three young children at Coney Island Beach remains hospitalized
Speaker 1: under psychiatric evaluation this morning. Yesterday, the budies of seven
Speaker 1: year old Zachary Murdy, four year old La Lana, and
Speaker 1: three month old Oliver Banderev were found on the shore
Speaker 1: of the beach. The NYPD s as the woman, who
Speaker 1: has not yet been identified, was found soaking wet, nearly catatonic,
Speaker 1: and barefoot, about two miles down the board of walk
Speaker 1: from the section of Kilney Island where she lived. The
Speaker 1: community is reacting to the news. Zachary's school football coach
Speaker 1: says it's hard to believe Sally kid really good kid,
Speaker 1: always smiling on a football field. Police say. Family members
Speaker 1: claim she confessed to the killings, but has not said
Speaker 1: anything to police. Republican Senator Lindsey Graham of South Carolina
Speaker 1: will once again try to introduce legislation to restrict abortion nationally.
Speaker 1: Graham as scheduled an announcement for later today at the Capitol.
Speaker 1: The politically explosive debate is emerging as one of the
Speaker 1: central issues in the midterm election campaign. The White House
Speaker 1: is working to revert a rail workers strike. President Biden
Speaker 1: has reached out to both the unions and railroad companies.
Speaker 1: If a deal isn't made by Friday, it could lead
Speaker 1: to major rail disruptions. Amtrack already announced it will be
Speaker 1: suspending several routes the Association of American Railroads says a
Speaker 1: nationwide rail work stoppage could result in a two billion
Speaker 1: dollar daily economic hit. Jason Today Because this comedy ted
Speaker 1: Lasso air and on Apple claimed the Top Comedy prize
Speaker 1: at last night's Emmy Awards. The show is about good
Speaker 1: and evil, and so the show is about like the
Speaker 1: truth and lies. This show is about all that stuff,
Speaker 1: but it's mostly about our response to those things, and
Speaker 1: your response to our show has been overwhelming. HBO Succession
Speaker 1: took home the Top Drama honor. Another HBO show, White Lotus,
Speaker 1: was named the Best Limited Series. Lee Jung j of
Speaker 1: Squid Game won the Best Drama Actor. The Emmys were
Speaker 1: aired on NBC Global Needs twenty four hours a day
Speaker 1: on air, and on Bloomberg Quick Take, powered by more
Speaker 1: than twenty seven hundre journalist and analysts in more than
Speaker 1: a twenty countries. I'm Michael bar This is Bloomberg Naked.
Speaker 1: Thanks Michael wall Street. Time for the Bloomberg Sports Update
Speaker 1: with John stanhow all Right, Nathan NFL Week one end
Speaker 1: with Denver at Seattle. So Russell Wilson's first game with
Speaker 1: the Broncos was against his old team. He wanted to
Speaker 1: get traded. That's why he got booed. Wilson through a
Speaker 1: three yards but twice to the second half. The Broncos
Speaker 1: fumbled at the Seattle one yard line, then they missed
Speaker 1: a long field goal Seattle one, seventeen sixteen. The new
Speaker 1: Seahawks QB is Gino Smith, the former Jet and Giant.
Speaker 1: He played well, especially in the first half. Jets did
Speaker 1: not play well and the loss of the Ravens their
Speaker 1: thirteenth loss in a row in September, so plenty of critics,
Speaker 1: but Jets coach Rob Sala thinks he will have the
Speaker 1: last lack. I know what's gonna happen, and I'm and
Speaker 1: I'm taking We're all taking receipts on all the people
Speaker 1: who continually mock and say that we aren't gonna do anything.
Speaker 1: I'm taking receipts. I'm gonna be more than half to
Speaker 1: sharing with all ye old one. It's all of a a
Speaker 1: sudden Yet Sunday visit Cleveland. The Browns just wanted Carolina
Speaker 1: the one on old Giants host the fan through Sunday.
Speaker 1: Week three, they played Dallas. The big NFL injury at
Speaker 1: a Week one Dak Prescott already had surgery on an
Speaker 1: injured hand. Expected to keep the Cowboys keeb out six
Speaker 1: to eight weeks. City Field covered with the Mets five
Speaker 1: to two. Not a good atting for Chris Bassett gave
Speaker 1: up all five gone in the fourth any with Atlanta
Speaker 1: has suddenly lost three in a row. Mets state game
Speaker 1: and a half ahead. Yankees and Red Sox tonight in Boston.
Speaker 1: Just a two game series. They'll play four times next
Speaker 1: weekend in New York. Mike Trout homeward for the Angels
Speaker 1: seventh game in a row. He can try the Major
Speaker 1: League record Tonight. MLB told the Dodgers that if they
Speaker 1: won Sunday, they plans to play out for US, so
Speaker 1: they wanted. They celebrated, and then MLB informed them they
Speaker 1: had made a mistake. So they celebrated again after a
Speaker 1: win last night, and they may celebrate again tonight they
Speaker 1: can clinch the division. John stash Award Bloomberg Sports Nathan.
Speaker 1: Thanks John. It's five thirty seven on Wall Street time
Speaker 1: for the Tri State Business Report. Here's Bloomberg's cory. Hundreds
Speaker 1: of New York Times employees are defining the company's return
Speaker 1: to office push. More than twelve hundred journalists and tech
Speaker 1: workers represented by the News Guild of New York pledged
Speaker 1: not to return to the office Monday, and an effort
Speaker 1: to get The Times to negotiate return to office plans.
Speaker 1: New Jersey has won its third credit rating upgrade this year,
Speaker 1: putting the state in better standing than when Governor Phil
Speaker 1: Murphy came into office in two thousand and eighteen. Fitch
Speaker 1: Ratings raised the rating one notch to A, the sixth
Speaker 1: highest investment grade, from A minus. Connecticut's Governor Ned Lamont
Speaker 1: has requested disaster declarations for Litchfield and New Haven Counties
Speaker 1: because of the difficulty agricultural producers face with the ongoing drought.
Speaker 1: Lamont side of the high route level for the county's
Speaker 1: officials approved primary disaster declarations for New London and Windham
Speaker 1: Counties in August. That's your Bloomberg Trying State Business Report.
Speaker 1: I'm Ed Corey. Thanks that It's five thirty eight on
Speaker 1: Wall Street. Bloomberg Radio is on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. I'm Steve Potos content ten Wins in
Speaker 1: New York. We're talking about New York Times staffers challenging
Speaker 1: the papers returned to office policy. M Corney Donahoe on
Speaker 1: wh S and Louisville. Starbucks is offering new perks for
Speaker 1: non union stores. I'm Caroline Head Gone Bloomberg. D A. B.
Speaker 1: Disowjo in Lontomove Poto on the latest UK jobs numbers
Speaker 1: showing the unemployment rate dropping to the lowest this kind.
Speaker 1: Corey on W T A M. In Cleveland. I'm reporting
Speaker 1: Energy Focus has a new CEO. And those are some
Speaker 1: of the stories. Are twenty seven hundred Bloomberg journalists and
Speaker 1: analysts are working on this morning around the world. It's
Speaker 1: nine on Wall Street. The following is an editorial from
Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board.
Speaker 1: Negotiations to revive the twenty fifty nuclear agreement with Iran
Speaker 1: have reached yet another impass, with Tehran pressing for last
Speaker 1: minute concessions. Most observers now expect talk to languish until
Speaker 1: after the US midterm elections in November. Further delay is risky.
Speaker 1: The I A E. A. Estimates Iran already has enough
Speaker 1: enriched uranium to build a nuclear weapon. Iran has also
Speaker 1: blocked the agency from monitoring how many advanced centrifuges its manufacturing,
Speaker 1: raising the possibility it could continue enriching secretly even if
Speaker 1: the deal is revived. That means the US will need
Speaker 1: to take many of the same actions to contain the threat,
Speaker 1: whether the deal is resurrected or not. Shifting to so
Speaker 1: called Plan B now could persuade Iran to back off
Speaker 1: its most unreasonable demands, and would help the US deal
Speaker 1: with the consequences if it doesn't. This editorial was written
Speaker 1: by the Bloomberg Editorial Board. For more Bloomberg opinion, please
Speaker 1: go to Bloomberg dot com, slash opinion or O P
Speaker 1: I N go on the Bloomberg Terminal. This has been
Speaker 1: Bloomberg opinion, and you can hear Bloomberg opinion editorials every
Speaker 1: weekday at this time, terminal customers can read more at
Speaker 1: O P I N go. Ahead of the market open.
Speaker 1: Ahead of August, CPI futures are higher, SMP futures up
Speaker 1: fifteen points now futures up a hundred fifteen. NASTAC futures
Speaker 1: are higher by forty points. You're listening to Bloomberg Daybreak
Speaker 1: Bloomberg eleven three oh weather. Some lingering showers should end
Speaker 1: by around lunchtime. Low eighties for an afternoon high sunshine
Speaker 1: low eighties tomorrow, sunny, mid seventies by Thursday. Right now
Speaker 1: cloudy seventy degrees in Central Park. Markets. Headlines and breaking
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Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's
Speaker 1: a Bloomberg Business Flash and I'm Karen. Moscow and US
Speaker 1: Dock Index futures on the rises morning ahead of key
Speaker 1: inflation data do out later, Treasury yields dipping and the
Speaker 1: dollar extending a decline. Who checked the markets every fifteen
Speaker 1: minutes throughout the trading day on Bloomberg s and P
Speaker 1: future is up about sixteen points now, Futures of a
Speaker 1: hundred nineteen NASDACK futures up forty The decks in Germany's
Speaker 1: up a quarter percent ten, Your treasury up ten thirty seconds.
Speaker 1: You have three point three one percent they yield on
Speaker 1: the two year three point five two percent. Nine X
Speaker 1: Screwed oil is up one and a third percent of
Speaker 1: a dollar seventeen at eighty eight dollars nine five cents
Speaker 1: of barrel co makes gold down a tenth of upper
Speaker 1: cent or two dollars at seventeen thirty eight sixty ounce,
Speaker 1: the euro one point one six three against the dollar,
Speaker 1: British pround one point one seven oh nine and the
Speaker 1: end one forty two point to five. And looking at
Speaker 1: bitcoin this morning, it's little change at twenty two thousand,
Speaker 1: three hundred ninety dollars. That's a bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael Karen, thank you very much. Final farewell
Speaker 1: from Scotland to their longest serving monarch. A stream of
Speaker 1: visitors believed to be a mile long, lined up to
Speaker 1: pay their last respects as the queen lies and rest
Speaker 1: in Edinburgh for twenty four hours. The Queen's coffin will
Speaker 1: later be taken to London to lye in state for
Speaker 1: four days. Ukrainian troops continue to pile unrelenting pressure on
Speaker 1: retreating Russian forces. They are seeking to hold on to
Speaker 1: their sudden momentum that has produced major territorial games. Monday
Speaker 1: Night football, the Seahawks upset the Broncos seventeen sixteen and
Speaker 1: baseball the Men's lost to the Cubs five to the Giants.
Speaker 1: One Global News twenty four hours a day on air
Speaker 1: and on Bloomberg Quicktake, powered by more than twenty seven
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: I'm Michael Blare and this is Bloomberg. Nathan. Okay, Michael,
Speaker 1: thank you are coming up to five forty nine on
Speaker 1: Wall Street Live from the Bloomberg Interacted Brokers studios. This
Speaker 1: is Bloomberg Daybreak on a morning where we're seeing a
Speaker 1: major development in one of the many investigations surrounding former
Speaker 1: President Donald Trump. For details, we turned to Joe Matthew,
Speaker 1: our Washington correspondent, host of Sound on Here on Bloomberg Radio,
Speaker 1: joining us live from our Bloomberg studios in the nation's capital.
Speaker 1: Joe Uh tell us more about this major escalation. We're
Speaker 1: hearing dozens of subpoenas. What's this. It's it's pretty incredible,
Speaker 1: and you know, it's getting to be difficult to keep
Speaker 1: all of the investigations straight here. This is the Justice Department,
Speaker 1: which is of course investigating attempts to overturn the presidential election.
Speaker 1: Were dozens of campaign operatives, allies of former President Donald Trump,
Speaker 1: receiving these subpoenas over the past couple of days. One
Speaker 1: of them was Bernie Carrick meth In, the former police
Speaker 1: commissioner New York City Police commissioner. And we know, of
Speaker 1: course that that he was in the so called war
Speaker 1: room at the Willard Hotel block or two away from
Speaker 1: the White House, and his loom large in this whole investigation.
Speaker 1: They are specifically, as we understand, and the New York
Speaker 1: Times has done some good reporting on this, asking for
Speaker 1: information about efforts to create fake electors in a number
Speaker 1: of swing states who would resist remember certification of Joe Biden.
Speaker 1: That was the plan. This is what they are looking
Speaker 1: into now. As you say, it is kind of difficult
Speaker 1: at this point to sort of keep track of the
Speaker 1: multiple investigations surrounding the former president. So this is separate
Speaker 1: from the other Justice Department investigation into the into the
Speaker 1: boxes of documents at marl Lago, right, Yes, and and
Speaker 1: we need to we need to keep this straight. Also
Speaker 1: progressing as we speak here, the Justice Department accepting the
Speaker 1: Trump nominee, if you will, uh, the individual the judge
Speaker 1: who the Trump legal team asked for to be a
Speaker 1: so called special master. Judge Raymond Deary is the name
Speaker 1: of former chief federal judge in New York. Is apparently
Speaker 1: acceptable to all parties, and so that is going to
Speaker 1: be who's digging through, uh these potentially thousands of documents,
Speaker 1: at least hundreds as we understand it. That is a
Speaker 1: separate track, and the January six Committee on Capitol Hill
Speaker 1: is conducting its own uh investor gation will call it,
Speaker 1: but it's not one that will end in charges because
Speaker 1: it's congressional. By the way, Nathan, they're talking about doing
Speaker 1: another hearing as soon as this month. Yeah, And I wonder, Joe, what,
Speaker 1: given that word that we did get that the House
Speaker 1: January six committee hearings are going to resume later this month,
Speaker 1: whether this latest development, first reported by The New York
Speaker 1: Times about the subpoenas, is going to play into that.
Speaker 1: It's it's they're they're kind of parallel investigations. Well, there's
Speaker 1: a lot of overlap here, that is for sure, and
Speaker 1: that's why it is difficult to delineate. It's it's up
Speaker 1: to the Department of Justice, of course, how they want
Speaker 1: to proceed. On this, and it's difficult once they really
Speaker 1: get going here, as we've seen with the Moral Lago investigation,
Speaker 1: sometimes it's unclear exactly what they're doing in real time.
Speaker 1: That's by design. It's only because of Donald Trump, who
Speaker 1: has issued any number of of social media posts and
Speaker 1: statements that have really brought us the most information that
Speaker 1: that we have received on this. And on top of
Speaker 1: all this, Joe, we're hearing that there could be yet
Speaker 1: another line of inquiry on Capitol Hill based on this
Speaker 1: new book that's coming out today. You just want to
Speaker 1: go deeper, Nathan, Yes, this is true. And by the way,
Speaker 1: there are any number of books about Donald Trump. This
Speaker 1: was attention of Dick Durban, who is at least as
Speaker 1: of now, of course, the chair of the Judiciary Committee,
Speaker 1: and it certainly got his attention. Here allegations that President
Speaker 1: Trump's Justice Department went after critics of the of the
Speaker 1: president tried to prosecute them, and specifically Greg Craig, who
Speaker 1: you might remember that name, a former Clinton administration official,
Speaker 1: one of one of the White House he was White
Speaker 1: House counsel, one of the lawyers in the Clinton White
Speaker 1: House prosecuted for political reasons. According to this report having
Speaker 1: found no reason to bring charges. He was later acquitted
Speaker 1: in a case that he was in which he was
Speaker 1: accused of lying about work on behalf of the Ukrainian government.
Speaker 1: But but Nathan, it led to nothing. Lots to keep
Speaker 1: track of, Lots to follow. From Bloomberg Washington correspondent Joe Matthew.
Speaker 1: We didn't even get to the policy or the announcements
Speaker 1: happening on the White House on Capitol Hill today, but
Speaker 1: we'll do that in our next hour as Bloomberg Daybreak
Speaker 1: continues here Joe Matthew, our Washington correspondent, joining us from
Speaker 1: our Bloomberg studios in the nation's capital. Karen Alry Nathan,
Speaker 1: thank you. It is five fifty three on Wall Street.
Speaker 1: It's time for the Bloomberg Law Report, brought to you
Speaker 1: by American Arbitration Association. This is Disputes are Inevitable, Resolve
Speaker 1: Faster with the American Arbitration Association, the global leader in
Speaker 1: alternative dispute resolution for over ninety years. More at a
Speaker 1: d R dot org. Let's get to the legal stories
Speaker 1: we're watching this morning. From Bloomberg's Jeff Bellinger. New York
Speaker 1: Governor Kathy hokel is allowing her pandemic related the emergency
Speaker 1: powers to expire. She says COVID cases are under control.
Speaker 1: New York Federal court records show that IBM has tentatively
Speaker 1: settled to leading class actions that accused the company of
Speaker 1: getting rid of older employees and replacing them with younger ones.
Speaker 1: Records from a California will coord Indicata Starbucks customer settled
Speaker 1: her claims that the coffee Chains hot chocolate, advertised as
Speaker 1: ethically sourced, is produced with child labor. Bloomberg Law everything
Speaker 1: you need, all on one legal research platform, including guidance
Speaker 1: analysis and Bloomberg market Intelligence. Find out more at Bloomberg
Speaker 1: Law dot com. All right, Jeff Banks, and now another
Speaker 1: legal story we're watching this morning brings us to Ball Street,
Speaker 1: where a federal appeals court has saved City Group from
Speaker 1: a nearly billion dollar mistake. Last August, City mistakenly paid
Speaker 1: out more than nine hundred million dollars of its own
Speaker 1: money to a group of lenders, expecting an interest payment
Speaker 1: on behalf of Revlon. Initially, a judge ruled that Revlon
Speaker 1: only needed to send back half the money to City,
Speaker 1: but now a second circuit judge has reversed that ruling.
Speaker 1: For more in the case, Bloomberg's June grass So speaks
Speaker 1: with Eric Talley, a professor at Columbia Law School. Eric,
Speaker 1: you compared this appellate process to an episode of the
Speaker 1: Twilight Zone. Tell us why. But one of the things
Speaker 1: that was difficult, especially after the trial court's opinion, was
Speaker 1: that we knew that this issue was being appealed to
Speaker 1: the Second Circuit, and we didn't know what the Second
Speaker 1: Circuit was going to do with it, whether they were
Speaker 1: going to affirm it, whether they were going to reverse it,
Speaker 1: where they're going to contract out the job to the
Speaker 1: New York court system, which they might have done. And
Speaker 1: in the interim, what happened is that Revlon filed for bankruptcy. Well,
Speaker 1: bankruptcy is a process that requires absolute clarity about who
Speaker 1: is owed what, and here we were in the middle
Speaker 1: of not knowing who, if anyone, was owed this money
Speaker 1: by Revlon or by City Bank, and the bankruptcy process
Speaker 1: was going forward without having any resolution from the Second Circuit.
Speaker 1: So that's why it was a little bit in the
Speaker 1: Twilight Zone, because there was just kind of a surprising
Speaker 1: and almost disabling amount of uncertainty having to do with
Speaker 1: what was the status of this mistaken payment, whether City
Speaker 1: Bank could qui it back, whether City Bank became a
Speaker 1: lender since they paid off the other lend, or they
Speaker 1: get to step in their shoes, or whether the debt
Speaker 1: of Revalon just mysteriously disappeared. And we sat waiting for
Speaker 1: a year to figure out how the Second Circuit was
Speaker 1: going to rule on this. The trial judges decision allowing
Speaker 1: the creditors to keep the more than half a billion
Speaker 1: dollars accidentally sent to them was a surprise. So was
Speaker 1: the second Circuit's decision reversing that opinion not a surprise.
Speaker 1: I think it depends whom you asked to me. It
Speaker 1: was not surprising on the overall merits of the case itself.
Speaker 1: It seems highly implausible that someone that you're about to
Speaker 1: sue will suddenly, without trying to get a settlement agreement
Speaker 1: with you or a standstill agreement, suddenly just pay off
Speaker 1: the money. It just kind of taxes one's common sense
Speaker 1: to think that that would even be possible. And that's
Speaker 1: important because this limited finders keeper's doctrine requires as an
Speaker 1: absolute necessity that the person that gets the mistaken payment
Speaker 1: doesn't know or doesn't even have eason to know that
Speaker 1: it's a mistake, and that just didn't seem likely here.
Speaker 1: And that's Ary Tallyer, professor at Columbia Law School, speaking
Speaker 1: at the Bloomberg sto in grass So catch more of
Speaker 1: that interview plus analysis of the latest legal news by
Speaker 1: subscribing to the Bloomberg Law Podcast are downloading the show
Speaker 1: at Bloomberg dot com slash podcasts. Attorneys can find exceptional
Speaker 1: legal research and business development tools at Bloomberg Law dot
Speaker 1: com and on the Bloomberg terminal at b law Go.
Speaker 1: And futures are higher this morning, SMP futures up about
Speaker 1: eighteen points down futures of A hundred thirty two and
Speaker 1: NASDAGG futures up fifty one and still ahead. On Bloomberg daybreak,
Speaker 1: we would check on the business headlines and all the
Speaker 1: news you need to start your day. And this is
Speaker 1: Bloomberg