1 00:00:01,920 --> 00:00:05,119 Speaker 1: Live from the Bloomberg and directed Burger Studios. Is Bloomberg 2 00:00:05,240 --> 00:00:09,160 Speaker 1: Daybreak for a Wednesday, February two two Coming up this hour, 3 00:00:09,520 --> 00:00:12,840 Speaker 1: Nazac futures roundy on the heels of earnings from Alphabet. 4 00:00:12,960 --> 00:00:16,000 Speaker 1: The Google Parents surges after announcing a twenty for one 5 00:00:16,160 --> 00:00:19,800 Speaker 1: stock split. Fed signals also helps sentiment, as officials hint 6 00:00:19,800 --> 00:00:22,200 Speaker 1: of a measured pace for rate hikes and oil trades 7 00:00:22,280 --> 00:00:24,880 Speaker 1: near a seven year high ahead of today's OPEC meeting. 8 00:00:25,079 --> 00:00:27,560 Speaker 1: Funeral services aren't today for the second n y p 9 00:00:27,640 --> 00:00:30,640 Speaker 1: D officer killed in an ambush in Harlem. Plus Russian 10 00:00:30,640 --> 00:00:34,760 Speaker 1: President Putin speaks out about Ukraine. I'm Michael barn Or Ahead. 11 00:00:34,960 --> 00:00:37,839 Speaker 1: I'm John Stans shown sports Tom Brady officially retired a 12 00:00:37,920 --> 00:00:44,200 Speaker 1: blockbuster NFL lawsuit, The Nets lost the Rangers one. That's 13 00:00:44,240 --> 00:00:48,560 Speaker 1: All straight Ahead on Bloomberg Daybreak on Bloomberg Elementary on 14 00:00:48,680 --> 00:00:52,960 Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one of 15 00:00:53,120 --> 00:00:57,560 Speaker 1: six one, Boston, Bloomberg nine sixties, San Francisco, Syrius x 16 00:00:57,760 --> 00:01:01,120 Speaker 1: M one nineteen and around the world Long Bloomberg Radio 17 00:01:01,240 --> 00:01:07,800 Speaker 1: dot Com and via The Bloomberg Business. Good Morning, I'm 18 00:01:07,880 --> 00:01:11,120 Speaker 1: Nathan Hagar. And I'm Karen Moscow. US dot index Future 19 00:01:11,200 --> 00:01:13,200 Speaker 1: is gaining this morning. We're coming up to six o 20 00:01:13,319 --> 00:01:15,119 Speaker 1: one on Wall Street, and we checked the markets every 21 00:01:15,160 --> 00:01:18,480 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg SMP future 22 00:01:18,520 --> 00:01:21,600 Speaker 1: is up thirty four points now futures have forty seven 23 00:01:21,600 --> 00:01:24,560 Speaker 1: and NASDAC futures have two hundred nineteen or one and 24 00:01:24,640 --> 00:01:28,000 Speaker 1: a half percent. Ten year Treasury down two thirties seconds. 25 00:01:28,000 --> 00:01:30,800 Speaker 1: The yield one point seven nine percent, and they yield 26 00:01:30,880 --> 00:01:34,600 Speaker 1: on the two year one point one seven percent. Comacs 27 00:01:34,640 --> 00:01:36,240 Speaker 1: Gold is up a tenth of a percent, or two 28 00:01:36,280 --> 00:01:39,440 Speaker 1: dollars ten cents at eighteen oh three sixty announced the 29 00:01:39,520 --> 00:01:42,320 Speaker 1: euro one point one three one three against the dollar 30 00:01:42,800 --> 00:01:46,320 Speaker 1: and bitcoin at thirty eight thousand, five d eighty five dollars. 31 00:01:46,360 --> 00:01:49,080 Speaker 1: Nathan Well, Karen. The boost and NASTAC futures comes in 32 00:01:49,120 --> 00:01:52,920 Speaker 1: part thanks to corporate earnings. Let's begin with Alphabet. Those 33 00:01:52,960 --> 00:01:55,880 Speaker 1: shares up more than ten percent after the Google parent 34 00:01:55,960 --> 00:01:59,480 Speaker 1: beat profitent sales estimates and announced the stock split at 35 00:01:59,560 --> 00:02:01,960 Speaker 1: Ludload joins us with the details from our Bloomberg nine 36 00:02:02,000 --> 00:02:04,400 Speaker 1: sixty news room in San Francisco. It was a beat 37 00:02:04,440 --> 00:02:06,800 Speaker 1: on the top and bottom line for Alphabet, the parent 38 00:02:06,840 --> 00:02:09,160 Speaker 1: company of Google, and all signs really points to a 39 00:02:09,240 --> 00:02:13,040 Speaker 1: resilient advertising business. But really it was news of a 40 00:02:13,200 --> 00:02:17,480 Speaker 1: stock split that drove activity and after hours for Alphabet. 41 00:02:17,680 --> 00:02:20,320 Speaker 1: The company is doing a twenty for one stock split 42 00:02:20,520 --> 00:02:23,280 Speaker 1: in the form of a one time special stock dividend, 43 00:02:23,520 --> 00:02:25,840 Speaker 1: and as part of that split, Google's parents going to 44 00:02:25,880 --> 00:02:28,600 Speaker 1: give one tenth of ascent for each share of the 45 00:02:28,600 --> 00:02:32,480 Speaker 1: company's Class A, Class B and Class C stock. And 46 00:02:32,560 --> 00:02:35,840 Speaker 1: Ruth Parrat, who is Alphabet CFO, told Bloomberg that the 47 00:02:35,919 --> 00:02:38,600 Speaker 1: rationale here is to widen the net and make the 48 00:02:38,639 --> 00:02:42,760 Speaker 1: stock more accessible to investors. Ed love Blow, Bloomberg News, 49 00:02:42,960 --> 00:02:45,240 Speaker 1: San Francisco, all right, and thank you. Adding to the 50 00:02:45,240 --> 00:02:48,600 Speaker 1: bullish sentiment this morning is a MD shares the chip 51 00:02:48,639 --> 00:02:50,840 Speaker 1: maker up more than eleven percent. The company had a 52 00:02:50,880 --> 00:02:54,760 Speaker 1: surprisingly strong sales for Chaos, suggesting it's making further gains 53 00:02:54,880 --> 00:02:57,640 Speaker 1: un rival Intel and Shoes. Our General Motors are up 54 00:02:57,720 --> 00:03:00,359 Speaker 1: less than one percent here and GM earning stuff estimates 55 00:03:00,360 --> 00:03:03,639 Speaker 1: while its outlook for twenty two remained unchanged. We get 56 00:03:03,639 --> 00:03:07,040 Speaker 1: more from Bloomberg's Charlie Pallace. GM is seeing signs of 57 00:03:07,080 --> 00:03:11,040 Speaker 1: an easing in the semiconductor shortage that curbed vehicle output 58 00:03:11,280 --> 00:03:14,200 Speaker 1: and dent at its market share last year, but it's 59 00:03:14,280 --> 00:03:19,000 Speaker 1: cautioning sales and profit for twenty two. Maybe little changed. 60 00:03:19,440 --> 00:03:21,959 Speaker 1: GM was hit among the hardest in the fourth quarter, 61 00:03:22,160 --> 00:03:25,440 Speaker 1: when a forty three percent drop in domestic sales forced 62 00:03:25,440 --> 00:03:28,960 Speaker 1: the company to relinquish its crown as top us automaker 63 00:03:29,160 --> 00:03:33,680 Speaker 1: for the first time since one in New York. Charlie 64 00:03:33,680 --> 00:03:36,360 Speaker 1: Pellets Bloomberg debrit All right, Charlie, thank you. We'll have 65 00:03:36,400 --> 00:03:39,240 Speaker 1: more on GM later this morning on Bloomberg Surveillance. Will 66 00:03:39,240 --> 00:03:42,320 Speaker 1: speak live with CEO Mary Barra. That's coming up at 67 00:03:42,360 --> 00:03:45,000 Speaker 1: nine am Wall Street time on both Bloomberg Radio and 68 00:03:45,080 --> 00:03:47,960 Speaker 1: television and Nathan. Earnings continue to roll in today, with 69 00:03:48,080 --> 00:03:51,400 Speaker 1: nearly three dozen companies reporting. Heading the list, Facebook owner 70 00:03:51,440 --> 00:03:54,360 Speaker 1: Meta Platforms. We get a preview from Bloomberg's Town Busby 71 00:03:54,560 --> 00:03:57,440 Speaker 1: and its first earnings report under its new corporate name, 72 00:03:57,520 --> 00:04:01,120 Speaker 1: Facebook's owner Metal Platforms. It's expected to report a burst 73 00:04:01,200 --> 00:04:04,880 Speaker 1: in digital advertising revenue last quarter and solid holiday sales 74 00:04:04,920 --> 00:04:08,640 Speaker 1: of its Oculus VR headset. Bloomberg analysts forecast total revenue 75 00:04:08,640 --> 00:04:11,640 Speaker 1: of thirty three point four three billion dollars, a nine 76 00:04:11,880 --> 00:04:14,040 Speaker 1: percent jump from a year ago, with nearly all of 77 00:04:14,040 --> 00:04:16,680 Speaker 1: that from advertising. Look for earnings per share of three 78 00:04:16,680 --> 00:04:19,640 Speaker 1: dollars nine cents, and on the earnings call, expect the 79 00:04:19,640 --> 00:04:22,160 Speaker 1: company to be pressed to better explain the metaverse, the 80 00:04:22,240 --> 00:04:25,719 Speaker 1: virtual reality platform it's basing its future on. Tom busby 81 00:04:25,880 --> 00:04:29,080 Speaker 1: Bloomberg Daybreak. Okay, Tom, thank you. Turning from earnings now. 82 00:04:29,160 --> 00:04:31,520 Speaker 1: Markets are also getting a boost from the Fed. Central 83 00:04:31,520 --> 00:04:33,800 Speaker 1: Bank officials are laying out a measured approach to the 84 00:04:33,800 --> 00:04:35,680 Speaker 1: path for rate hikes this year, and we get that 85 00:04:35,760 --> 00:04:38,520 Speaker 1: storyline from Bloomberg's Need a Young Good Morning Grenita, Good 86 00:04:38,520 --> 00:04:41,560 Speaker 1: morning Nathan. The measured calls from Fed leaders are different 87 00:04:41,600 --> 00:04:44,719 Speaker 1: from Wall Street forecasts, which include as many as seven 88 00:04:44,839 --> 00:04:48,000 Speaker 1: rate hikes this year. Some even predict a fifty basis 89 00:04:48,040 --> 00:04:50,760 Speaker 1: point height next month. So far, none of the Fed 90 00:04:50,800 --> 00:04:53,440 Speaker 1: officials speaking this week have backed the idea of such 91 00:04:53,480 --> 00:04:56,440 Speaker 1: an increase in March. The most hawkish of them all St. 92 00:04:56,480 --> 00:05:00,760 Speaker 1: Louis Fed President James Bullard says five hikes quote not 93 00:05:00,920 --> 00:05:04,320 Speaker 1: too bad a bit. Kansas City Fed Chief Esther George 94 00:05:04,320 --> 00:05:07,479 Speaker 1: is another hawk and she says ideally the Fed prefers 95 00:05:07,520 --> 00:05:10,520 Speaker 1: to go gradually. Live in New York I'm goned a 96 00:05:10,520 --> 00:05:13,279 Speaker 1: young Bloomberg Daybreak. We need to thank you. Fed officials 97 00:05:13,360 --> 00:05:16,039 Speaker 1: will be paying close attention to this week's economic data. 98 00:05:16,080 --> 00:05:18,200 Speaker 1: On this morning, we get the first of three reports 99 00:05:18,200 --> 00:05:20,800 Speaker 1: on the labor market because he had dramatic slowdown in 100 00:05:20,839 --> 00:05:24,520 Speaker 1: business hiring. When a DP issues January payroll data, econom 101 00:05:24,600 --> 00:05:27,120 Speaker 1: is surveyed by Bloomberg anticipate a gain of less than 102 00:05:27,160 --> 00:05:30,680 Speaker 1: two hundred thousand, and Bloomberg's viney Deal Judais reports. Bloomberg 103 00:05:30,720 --> 00:05:34,800 Speaker 1: Economics says January's ADP data will point to a slowdown 104 00:05:34,839 --> 00:05:39,760 Speaker 1: and hiring, reflecting the impact of COVID nineteen omicron infections 105 00:05:39,800 --> 00:05:44,520 Speaker 1: on businesses. February could usher in a recovery. In December, 106 00:05:44,560 --> 00:05:47,560 Speaker 1: a d P reported businesses added more than eight hundred 107 00:05:47,600 --> 00:05:51,280 Speaker 1: thousand workers, the most sins May. The official government figures 108 00:05:51,279 --> 00:05:55,200 Speaker 1: were less robust. S Bloomberg day Break Finny Thanks. The 109 00:05:55,240 --> 00:05:58,480 Speaker 1: big Labor report comes Friday with government payrolls data for 110 00:05:58,600 --> 00:06:02,120 Speaker 1: January and the Biden administer Asians, lowering expectations on those. 111 00:06:02,200 --> 00:06:04,720 Speaker 1: The White House says fallout from Omicron could overstate the 112 00:06:04,800 --> 00:06:07,599 Speaker 1: number of unemployed people. Jared Bernstein is a member of 113 00:06:07,600 --> 00:06:10,559 Speaker 1: the White House Council of Economic Advisors. If you're not 114 00:06:10,640 --> 00:06:14,000 Speaker 1: on the payroll, meaning you're sick or you're absence so 115 00:06:14,000 --> 00:06:16,880 Speaker 1: you're on some sort of unpaid leave, you're not going 116 00:06:16,920 --> 00:06:19,359 Speaker 1: to be counted on the payroll for the payroll survey. 117 00:06:19,800 --> 00:06:23,280 Speaker 1: And the fact is um virtually all of those folks 118 00:06:23,480 --> 00:06:26,120 Speaker 1: likely still have their jobs, so when they go back 119 00:06:26,120 --> 00:06:29,120 Speaker 1: in February, they will be counted again. Jared Bernstein with 120 00:06:29,160 --> 00:06:31,919 Speaker 1: the Council of Economic Advisors spoke with our Washington correspondent 121 00:06:32,000 --> 00:06:35,200 Speaker 1: Joe Matthew on Bloomberg Sound on Catch the program weekdays 122 00:06:35,240 --> 00:06:38,440 Speaker 1: at five pm Eastern on Bloomberg Radio. Oil also in 123 00:06:38,520 --> 00:06:40,920 Speaker 1: focus this morning, is trading near a seven year high 124 00:06:40,960 --> 00:06:43,000 Speaker 1: ahead of an OPEC plus meeting. Oh Peck and his 125 00:06:43,120 --> 00:06:46,159 Speaker 1: allies are expecting to approve another modest oil output in 126 00:06:46,200 --> 00:06:48,680 Speaker 1: Greece today, at the same time, they could struggle to 127 00:06:48,720 --> 00:06:52,120 Speaker 1: actually deliver that cut. And checking prices now, NIMEX scrude 128 00:06:52,160 --> 00:06:54,400 Speaker 1: oil is up a quarter percent, or twenty four cents 129 00:06:54,400 --> 00:06:57,000 Speaker 1: at eighty eight dollars forty four cents. Of barrel Brent 130 00:06:57,200 --> 00:06:59,440 Speaker 1: is up about two ten percent to eighty nine dollars 131 00:06:59,440 --> 00:07:06,960 Speaker 1: twenty nine sense and checking futures right now, SMP futures 132 00:07:06,960 --> 00:07:09,160 Speaker 1: are up thirty one point, staff futures up thirty six. 133 00:07:09,279 --> 00:07:12,160 Speaker 1: Nastack futures are higher by two or three points. That's 134 00:07:12,160 --> 00:07:14,320 Speaker 1: a gain of one point four per cent. The tenure 135 00:07:14,360 --> 00:07:17,120 Speaker 1: treasure yield one point seven nine local headlines in the 136 00:07:17,200 --> 00:07:23,119 Speaker 1: check of Sports. Next to this is Bloomberg. It sounds 137 00:07:23,120 --> 00:07:25,200 Speaker 1: six though seven on Wall Street where thirty five degrees 138 00:07:25,240 --> 00:07:27,720 Speaker 1: in Central Park got an accent on the inbound George 139 00:07:27,720 --> 00:07:30,040 Speaker 1: Washington Bridge on the upper level. The tails coming up 140 00:07:30,040 --> 00:07:32,360 Speaker 1: in traffic. First Michael Barr with more on what's going 141 00:07:32,360 --> 00:07:34,280 Speaker 1: on in New York end around the world. Michael, thank 142 00:07:34,320 --> 00:07:37,160 Speaker 1: you very much, Nathan. A sea of blue expected again 143 00:07:37,280 --> 00:07:39,960 Speaker 1: in New York City today at the funeral for Officer 144 00:07:40,000 --> 00:07:43,640 Speaker 1: Wilbert Mora, the second of two NYPD officers killed in 145 00:07:43,680 --> 00:07:46,880 Speaker 1: the line of duty last month. Awake for Morea, who 146 00:07:47,000 --> 00:07:50,240 Speaker 1: was seven, was held yesterday. He was killed during a 147 00:07:50,280 --> 00:07:53,800 Speaker 1: domestic disturbance call in Harlem, along with his partner, Jason Rivera. 148 00:07:54,320 --> 00:07:57,320 Speaker 1: Moreas funeral will be held at St. Patrick's Cathedral this 149 00:07:57,360 --> 00:08:00,480 Speaker 1: morning in midtown Manhattan, followed by a very old Woodside 150 00:08:00,560 --> 00:08:03,600 Speaker 1: Queens This as an off duty m p D officer 151 00:08:03,720 --> 00:08:06,680 Speaker 1: was shot in Queen's last night. He is expected to survive. 152 00:08:07,200 --> 00:08:10,520 Speaker 1: Mp D Commissioner Keachin Sewell talked about the latest shooting. 153 00:08:10,880 --> 00:08:14,600 Speaker 1: This young man was on his way to work, on 154 00:08:14,680 --> 00:08:18,080 Speaker 1: his way to protect New Yorkers from criminals. Commissioners Sewell 155 00:08:18,240 --> 00:08:22,040 Speaker 1: was alongside Mayor Eric Adam speaking to reporters. These offices 156 00:08:22,120 --> 00:08:25,640 Speaker 1: every day put on their uniform, Pinachiel on their chests, 157 00:08:25,840 --> 00:08:29,040 Speaker 1: put the bulaproof fest on and go back in the streets. 158 00:08:29,040 --> 00:08:32,360 Speaker 1: With all of that frustration, they still go back and 159 00:08:32,440 --> 00:08:36,360 Speaker 1: do their job. Now is time for lawmakers to do 160 00:08:36,440 --> 00:08:39,720 Speaker 1: their job. Mayor Adams is getting ready to host President 161 00:08:39,760 --> 00:08:43,560 Speaker 1: Biden tomorrow for a discussion about gun violence. Russian President 162 00:08:43,640 --> 00:08:47,880 Speaker 1: Vladimir Putin accused America and the West of ignoring Moscow's 163 00:08:47,880 --> 00:08:52,520 Speaker 1: security concerns in the Ukraine controversy. Secretary of State b Lincoln, 164 00:08:52,600 --> 00:08:55,560 Speaker 1: speaking with Russian Foreign Minister Lave Roth, says it was 165 00:08:55,640 --> 00:08:58,520 Speaker 1: time for Russia to start withdrawing its troops from the border. 166 00:08:58,760 --> 00:09:01,680 Speaker 1: White out spokesperson Jen Saki, the door to the plumacy 167 00:09:01,720 --> 00:09:06,360 Speaker 1: remains open. We don't know what decision President Putin will make. 168 00:09:06,600 --> 00:09:09,880 Speaker 1: Spokesperson Jen Saki a Democratic senator has suffered a stroke 169 00:09:09,920 --> 00:09:13,400 Speaker 1: because doctors say U S. Senator Ben Luhan, who is 170 00:09:13,480 --> 00:09:16,440 Speaker 1: forty nine, is expected to fully recover from a stroke 171 00:09:16,480 --> 00:09:20,000 Speaker 1: and surgery to reduce swelling. However, with a fifty fifty Senate, 172 00:09:20,120 --> 00:09:22,520 Speaker 1: it has put a number of Democratic lead votes on 173 00:09:22,559 --> 00:09:25,400 Speaker 1: hold for now. A major winter storm is expected to 174 00:09:25,440 --> 00:09:28,480 Speaker 1: affect a huge swath of the US, with heavy snow 175 00:09:28,559 --> 00:09:31,080 Speaker 1: starting in the Rockies and freezing rain as far as south. 176 00:09:31,120 --> 00:09:34,119 Speaker 1: It's Texas before it drops snow and ice on the Midwest, 177 00:09:34,559 --> 00:09:37,880 Speaker 1: and it's Groundhog Day. People in Pennsylvania are waiting to 178 00:09:37,960 --> 00:09:41,280 Speaker 1: learn whether Ponsitani fil predicts an early spring or six 179 00:09:41,320 --> 00:09:44,880 Speaker 1: more weeks of winter. Staten Island. Chuck will be live 180 00:09:44,920 --> 00:09:49,720 Speaker 1: stream today Global twenty four hours to day two. Buck 181 00:09:49,800 --> 00:09:54,840 Speaker 1: Chuck on here and on Bloomberg Quick Takes Mony seven 182 00:09:54,880 --> 00:09:57,959 Speaker 1: that maybe journalist and analyism more than under twenty gun threes. 183 00:09:58,000 --> 00:10:01,840 Speaker 1: I'm Michael bar this is bloom happy. Six more weeks 184 00:10:01,840 --> 00:10:09,080 Speaker 1: of winter. I'm calling it, Michael almost six ten on 185 00:10:09,120 --> 00:10:11,120 Speaker 1: Wall Street. Time for the Bloomberg Sports Update with John 186 00:10:11,160 --> 00:10:14,440 Speaker 1: Stashun all Right, Nathan the greatest player ever retires and 187 00:10:14,800 --> 00:10:17,000 Speaker 1: may not have been the biggest NFL story of the day. 188 00:10:17,000 --> 00:10:19,839 Speaker 1: Tom Brady made his retirement official a length they post 189 00:10:19,920 --> 00:10:23,040 Speaker 1: on social media that curiously never mentioned the Patriots, but 190 00:10:23,520 --> 00:10:25,840 Speaker 1: you can expect Brady's number twelve to be retired at 191 00:10:25,840 --> 00:10:29,000 Speaker 1: a Pat's game next season. Tampa Bay now needs a quarterback. Meanwhile, 192 00:10:29,440 --> 00:10:32,400 Speaker 1: a lawsuit filed in Manhattan federal accord by Brian Flora, 193 00:10:32,440 --> 00:10:34,560 Speaker 1: as recently fired as the head coach of the Dolphins. 194 00:10:34,559 --> 00:10:38,240 Speaker 1: It accuses the NFL and three teams Miami, Denver, and 195 00:10:38,280 --> 00:10:42,120 Speaker 1: the Giants of racism in their hiring practices. Flora said 196 00:10:42,120 --> 00:10:44,080 Speaker 1: that in two thousand of nineteen in Denver and just 197 00:10:44,240 --> 00:10:46,520 Speaker 1: recently with the Giants, he was interviewed for a head 198 00:10:46,520 --> 00:10:49,080 Speaker 1: coaching job that he had no chance of getting, and 199 00:10:49,120 --> 00:10:51,520 Speaker 1: he offered as proof a text he got last week 200 00:10:51,559 --> 00:10:54,280 Speaker 1: from Bill Belichick, who apparently meant it to go to 201 00:10:54,320 --> 00:10:57,680 Speaker 1: Brian day Ball. He congratulated him on getting the Giants job. 202 00:10:58,120 --> 00:11:00,800 Speaker 1: It was before Flora's even had his review. Perhaps most 203 00:11:00,800 --> 00:11:04,160 Speaker 1: shocking leave, Flora said Dolphins owner Stephen Ross offered to 204 00:11:04,200 --> 00:11:07,320 Speaker 1: pay him more money if his team lost so they 205 00:11:07,320 --> 00:11:10,160 Speaker 1: could get a better draft pick. NAT's in Phoenix Sons 206 00:11:10,200 --> 00:11:12,720 Speaker 1: have won forty of their last forty six. They beat 207 00:11:12,720 --> 00:11:16,640 Speaker 1: Brookely to one eleven. Devon Booker scored thirty five Rangers 208 00:11:16,640 --> 00:11:18,640 Speaker 1: at the Guard to beat Florida five to two. Two 209 00:11:18,720 --> 00:11:21,000 Speaker 1: more goals, both on the power player for Chris Crider, 210 00:11:21,360 --> 00:11:23,600 Speaker 1: now thirty three goals on the season, more than half 211 00:11:23,600 --> 00:11:25,600 Speaker 1: of those with the man advantage. Islanders back to five 212 00:11:25,679 --> 00:11:28,680 Speaker 1: hundred four one over Ottawa, The Devils six trade Laws 213 00:11:28,679 --> 00:11:31,440 Speaker 1: beaten by Toronto seven to one. St. John's lost the 214 00:11:31,440 --> 00:11:34,440 Speaker 1: Big East, leading Providence eight six eighty two. Pasha Alexander 215 00:11:34,480 --> 00:11:36,760 Speaker 1: scored twenty nine for the Red Storm. Seaton Hall one 216 00:11:36,800 --> 00:11:40,000 Speaker 1: at Georgetown Ruttors came from twenty four down to force 217 00:11:40,040 --> 00:11:43,840 Speaker 1: overtime but lost by one at Northwestern. John Stash Atward 218 00:11:43,840 --> 00:11:46,800 Speaker 1: Bloomberg Sports, Nathan all right, John, thanks right now. Some 219 00:11:47,040 --> 00:11:49,319 Speaker 1: futures are up thirty point Stuff futures up thirty four 220 00:11:49,360 --> 00:11:52,040 Speaker 1: nansect futures still leading the gains up one hundred ninety 221 00:11:52,080 --> 00:11:54,280 Speaker 1: three points, a gain of one point three percent to ten. 222 00:11:54,320 --> 00:11:57,440 Speaker 1: Your treasury now down one thirty second to yield one 223 00:11:57,520 --> 00:12:01,200 Speaker 1: point seven nine percent. More are on the markets. Next 224 00:12:01,200 --> 00:12:08,000 Speaker 1: with Brian Levitt of Investco. This is Bloomberg Bloomberg eleven 225 00:12:08,040 --> 00:12:09,839 Speaker 1: three or weather cloud some Sunday times today with a 226 00:12:09,920 --> 00:12:11,959 Speaker 1: higher forty five degrees will be in the mid forties 227 00:12:12,000 --> 00:12:15,240 Speaker 1: tomorrow with rain arriving the afternoon. Rain ending is wet, 228 00:12:15,360 --> 00:12:18,640 Speaker 1: snow or sleet Friday with a hindar thirty five. That's 229 00:12:18,679 --> 00:12:24,720 Speaker 1: the current temperature. Markets, headlines and breaking news twenty four 230 00:12:24,720 --> 00:12:27,800 Speaker 1: hours a day at Bloomberg dot com. The Bloomberg Business 231 00:12:27,800 --> 00:12:37,400 Speaker 1: Outland at Bloomberg Quick Tape is a Bloomberg Business Flash 232 00:12:38,000 --> 00:12:40,720 Speaker 1: and I'm Cameron Moscow. Global stocks heading for the biggest 233 00:12:40,760 --> 00:12:45,040 Speaker 1: four day rally since November. US Dot index futures are 234 00:12:45,160 --> 00:12:48,000 Speaker 1: jumping as companies from the US to Europe report better 235 00:12:48,000 --> 00:12:51,520 Speaker 1: than forecast earnings, and dip bine continues in technology shares. 236 00:12:51,760 --> 00:12:54,079 Speaker 1: To check the markets every fifteen minutes throughout the trading 237 00:12:54,160 --> 00:12:56,400 Speaker 1: day on Bloomberg Right now, S and P futures are 238 00:12:56,480 --> 00:12:59,760 Speaker 1: up thirty points now futures up thirty three, and NASDAG 239 00:12:59,800 --> 00:13:02,160 Speaker 1: few Jersey are up one ninety three. That's up one 240 00:13:02,200 --> 00:13:05,199 Speaker 1: point three percent. The decks in Germany's up two tenths 241 00:13:05,200 --> 00:13:07,400 Speaker 1: of upper cent. The ten year treasury down one thirty 242 00:13:07,480 --> 00:13:10,120 Speaker 1: second held one point seven nine percent. They yield on 243 00:13:10,200 --> 00:13:12,920 Speaker 1: the two year one point one seven percent. Nine night 244 00:13:12,960 --> 00:13:15,079 Speaker 1: screwed oil is up two tenths per cent or thirteen 245 00:13:15,120 --> 00:13:17,320 Speaker 1: cents at eighty eight dollars. Thirty three cents of barrel 246 00:13:17,600 --> 00:13:19,720 Speaker 1: comex schooled up less than a tenth of upper cent 247 00:13:19,800 --> 00:13:22,320 Speaker 1: of a dollar twenty At eighteen o two seventy announced 248 00:13:22,640 --> 00:13:25,160 Speaker 1: the euro one point one three oh nine against the dollar, 249 00:13:25,200 --> 00:13:27,720 Speaker 1: British found one point three five five six and the 250 00:13:27,800 --> 00:13:30,959 Speaker 1: ends at one fourteen point three nine bitcoin. This morning 251 00:13:31,360 --> 00:13:34,720 Speaker 1: it's moving lower at thirty eight thousand, five hundred twenty dollars. 252 00:13:34,760 --> 00:13:36,760 Speaker 1: And today we get a report on private pay rolls 253 00:13:36,840 --> 00:13:39,400 Speaker 1: from the ADP Research Institute at an eight fifteen Wall 254 00:13:39,440 --> 00:13:41,920 Speaker 1: Street time, and it's another big day for earnings. We 255 00:13:42,000 --> 00:13:45,319 Speaker 1: hear from companies including Facebook parent Meta platforms. That's a 256 00:13:45,360 --> 00:13:47,960 Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on 257 00:13:48,000 --> 00:13:51,360 Speaker 1: what's going on around the world. Uncle, good morning, Good morning. 258 00:13:51,400 --> 00:13:54,680 Speaker 1: Here in US, hospital admissions for COVID nineteen are receiving 259 00:13:54,679 --> 00:13:57,440 Speaker 1: in thirty four states and the nation's capital, easing the 260 00:13:57,520 --> 00:14:01,400 Speaker 1: healthcare staffing crisis that we're widespread at the start of 261 00:14:01,400 --> 00:14:04,800 Speaker 1: the year. The World Health Organization, though warned countries not 262 00:14:04,880 --> 00:14:09,480 Speaker 1: to ease restrictions prematurely. Former Miami Dolphins coach Brian Flores 263 00:14:09,600 --> 00:14:12,640 Speaker 1: is suing the NFL and three teams, including the Giants, 264 00:14:12,960 --> 00:14:16,560 Speaker 1: claiming quote the NFL is racially segregated and has managed 265 00:14:16,679 --> 00:14:20,640 Speaker 1: much like a plantation. The Dolphins fired Floors last month 266 00:14:20,680 --> 00:14:23,840 Speaker 1: after back to back winning seasons. The lawsuit even accuses 267 00:14:23,920 --> 00:14:27,280 Speaker 1: Dolphins owner Stephen Ross of offering to pay Floors one 268 00:14:27,320 --> 00:14:30,320 Speaker 1: hundred thousand dollars for every loss during the twenty nineteen 269 00:14:30,360 --> 00:14:34,160 Speaker 1: season to secure a higher draft pick in the NBA. 270 00:14:34,360 --> 00:14:37,840 Speaker 1: The Nets and Wizards lost, The Warriors won. In the NHL, 271 00:14:37,920 --> 00:14:40,680 Speaker 1: the Rangers, Islanders, and Bruins one. The Capital's won an 272 00:14:40,680 --> 00:14:44,000 Speaker 1: OT against the Penguins for three, The Devil's lost. Global 273 00:14:44,000 --> 00:14:46,480 Speaker 1: News twenty four hours a day on air and on 274 00:14:46,520 --> 00:14:49,600 Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred 275 00:14:49,640 --> 00:14:52,200 Speaker 1: journalists and analysts more than a hundred twenty countries. I'm 276 00:14:52,200 --> 00:14:54,520 Speaker 1: Michael bar This is Bloomberg. Nathan all right, Michael, thanks 277 00:14:54,560 --> 00:14:56,600 Speaker 1: for coming up to six twenty on Wall Street Life 278 00:14:56,600 --> 00:14:59,880 Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. 279 00:15:00,080 --> 00:15:03,160 Speaker 1: Brian Levitt joins us now Global market strategist at invest 280 00:15:03,200 --> 00:15:07,760 Speaker 1: Go certainly seeing a lift to tech futures for sure, Brian, 281 00:15:08,440 --> 00:15:11,160 Speaker 1: with Google earnings coming in as well as they did, 282 00:15:11,280 --> 00:15:16,200 Speaker 1: is the growth trade back, Yeah. I think investors have 283 00:15:16,360 --> 00:15:20,600 Speaker 1: gotten too pessimistic on the growth trade. And part of 284 00:15:20,080 --> 00:15:23,160 Speaker 1: the reality of the pessimism that growth trade with the 285 00:15:23,200 --> 00:15:26,240 Speaker 1: expectation that long rates we're going to go up substantially. 286 00:15:26,280 --> 00:15:29,520 Speaker 1: I think what investors have to realize is that we 287 00:15:29,560 --> 00:15:32,840 Speaker 1: are in a tightening cycle, and in a tightening cycle, 288 00:15:32,880 --> 00:15:36,000 Speaker 1: you'd expect the yield curve to flatten and for growth 289 00:15:36,040 --> 00:15:40,840 Speaker 1: prospects to slow. And in a slower growth environment, companies 290 00:15:40,880 --> 00:15:43,800 Speaker 1: that can generate true earnings growth tend to be rewarded. 291 00:15:43,840 --> 00:15:45,640 Speaker 1: So it's not to say that the year isn't going 292 00:15:45,680 --> 00:15:48,840 Speaker 1: to continue to be volatile, but I think investors jumped 293 00:15:48,920 --> 00:15:51,920 Speaker 1: the gun to think that, you know, this was going 294 00:15:52,000 --> 00:15:55,000 Speaker 1: to be a wholesale shift away from growth to value. 295 00:15:55,240 --> 00:15:57,560 Speaker 1: I would focus on quality, and a lot of those 296 00:15:57,600 --> 00:16:01,360 Speaker 1: growth companies are high quality businesses that that generate very 297 00:16:01,400 --> 00:16:05,040 Speaker 1: strong earnings growth and what's gonna be a slowing economic environment. 298 00:16:05,360 --> 00:16:09,800 Speaker 1: In a slowing economic environment, then you can tech companies 299 00:16:10,040 --> 00:16:14,200 Speaker 1: like Alphabet, like Apple continue on the trajectory that they've 300 00:16:14,240 --> 00:16:19,760 Speaker 1: shown through the pandemic. I believe they can um and 301 00:16:19,800 --> 00:16:22,000 Speaker 1: what your start what you started to get to when 302 00:16:22,040 --> 00:16:24,720 Speaker 1: when we saw the big sell off that we had 303 00:16:25,080 --> 00:16:27,960 Speaker 1: a handful of days ago, was that some of these 304 00:16:28,400 --> 00:16:34,520 Speaker 1: really good quality tech businesses were moving towards valuations in 305 00:16:34,560 --> 00:16:37,480 Speaker 1: some instances like a Facebook that wasn't all that different 306 00:16:37,520 --> 00:16:40,560 Speaker 1: than the valuations of the market. So we had gotten to, 307 00:16:41,040 --> 00:16:44,360 Speaker 1: you know, extreme pessimism across the market. We're getting a 308 00:16:44,480 --> 00:16:47,160 Speaker 1: bounce here. It's not a surprise to see it led 309 00:16:47,280 --> 00:16:50,960 Speaker 1: by by tech businesses, by the higher quality companies. Now 310 00:16:51,200 --> 00:16:54,880 Speaker 1: these markets, um, you know, a rally was in store. 311 00:16:55,000 --> 00:16:58,120 Speaker 1: These markets were bound to find some footing. It doesn't 312 00:16:58,120 --> 00:17:00,920 Speaker 1: mean our challenges haven't gone away. We all have elevated 313 00:17:00,920 --> 00:17:05,000 Speaker 1: inflation and multiple interest rate hikes ahead. But my view 314 00:17:05,400 --> 00:17:07,880 Speaker 1: is that you want to hide out in quality during 315 00:17:07,880 --> 00:17:10,880 Speaker 1: that environment, and the companies that you mentioned could certainly 316 00:17:10,920 --> 00:17:13,639 Speaker 1: be viewed as as good quality business has given the 317 00:17:13,640 --> 00:17:16,439 Speaker 1: state of their balance sheets and given their abilities to 318 00:17:16,480 --> 00:17:21,360 Speaker 1: grow in most economic backdrops. You mentioned the uncertainty around 319 00:17:21,560 --> 00:17:25,159 Speaker 1: FED policy. Are you starting to re rate what you 320 00:17:25,200 --> 00:17:27,920 Speaker 1: think the FED is going to do in terms of 321 00:17:28,000 --> 00:17:30,200 Speaker 1: the speed of rate hikes and how many rate hikes 322 00:17:30,200 --> 00:17:33,640 Speaker 1: we get this year. Yeah, but the market has done 323 00:17:33,640 --> 00:17:36,479 Speaker 1: a good job of of pricing it in. I mean, 324 00:17:36,520 --> 00:17:38,960 Speaker 1: even if you think about what had what's happened to 325 00:17:39,000 --> 00:17:41,959 Speaker 1: the two year treasury, the to your treasury was below 326 00:17:42,000 --> 00:17:45,280 Speaker 1: twenty basis points not that long ago and and has 327 00:17:45,359 --> 00:17:48,080 Speaker 1: moved closer to a hundred and twenty basis points. So 328 00:17:48,480 --> 00:17:51,680 Speaker 1: I would categorize that as a bond market that has 329 00:17:51,760 --> 00:17:54,960 Speaker 1: already started to price in a lot of tightening. Financial 330 00:17:54,960 --> 00:17:58,040 Speaker 1: conditions have tightened a bit, high yield spreads have moved 331 00:17:58,119 --> 00:18:00,000 Speaker 1: up a bit in the yield curve, The US treasure 332 00:18:00,080 --> 00:18:04,639 Speaker 1: eel curve has flattened meaningfully. So the I guess we 333 00:18:04,680 --> 00:18:07,240 Speaker 1: could take it as some good news that the market 334 00:18:07,440 --> 00:18:10,159 Speaker 1: has already priced in a lot of it. What we 335 00:18:10,200 --> 00:18:13,960 Speaker 1: need to see now is do inflation expectations start to 336 00:18:14,040 --> 00:18:18,520 Speaker 1: come down and is it possible that the Federal Reserve 337 00:18:18,600 --> 00:18:22,040 Speaker 1: does not have to raise interest rates as significantly and 338 00:18:22,080 --> 00:18:24,479 Speaker 1: as quickly as people think, Look it's coming. We know 339 00:18:24,600 --> 00:18:27,280 Speaker 1: the tightening is coming again. The markets priced in a 340 00:18:27,320 --> 00:18:29,560 Speaker 1: lot of it. What I'm starting to see a survey 341 00:18:29,680 --> 00:18:32,600 Speaker 1: data from the American consumers saying they're not willing to 342 00:18:32,600 --> 00:18:34,919 Speaker 1: pay these prices anymore. It's not a good time to 343 00:18:34,960 --> 00:18:37,360 Speaker 1: buy durable goods. They're saying it's not a good time 344 00:18:37,400 --> 00:18:41,320 Speaker 1: to buy vehicles. To me, that means demand slows. As 345 00:18:41,359 --> 00:18:45,240 Speaker 1: demands slows, some of the supply chain challenges hopefully start 346 00:18:45,320 --> 00:18:48,360 Speaker 1: to ease. Maybe that allows the FED to back off 347 00:18:48,400 --> 00:18:51,359 Speaker 1: the tightening stance at some point. That's the hope that 348 00:18:51,400 --> 00:18:54,560 Speaker 1: would put the economy back into a more expansionary tilt. 349 00:18:55,080 --> 00:18:57,520 Speaker 1: But we'll have to see how this plays out. All right, 350 00:18:57,680 --> 00:18:59,679 Speaker 1: Thanks for this, Brian, good having you on with us 351 00:18:59,720 --> 00:19:03,560 Speaker 1: this morning. Brian Levitt is a global market strategist at Investco. 352 00:19:03,720 --> 00:19:08,800 Speaker 1: It is on Wall Street. This is the Big Take, 353 00:19:08,960 --> 00:19:12,360 Speaker 1: the best of boom Berg's in depth original reporting from 354 00:19:12,400 --> 00:19:15,120 Speaker 1: around the globe. We're running on a financial system that's 355 00:19:15,160 --> 00:19:19,560 Speaker 1: running on old technology. We're seeing prices reach fresh recordized. 356 00:19:19,720 --> 00:19:22,000 Speaker 1: What unfolds in mid terms, we will no doubt see 357 00:19:22,000 --> 00:19:25,720 Speaker 1: again in the next presidential election. The boom Take on 358 00:19:25,880 --> 00:19:29,760 Speaker 1: boom Bird Radio. The Big Take this morning is about 359 00:19:30,040 --> 00:19:33,600 Speaker 1: big bonuses, the likes of which Wall Street hasn't seen 360 00:19:33,720 --> 00:19:37,879 Speaker 1: since really after the global financial crisis and the bailout 361 00:19:38,040 --> 00:19:41,000 Speaker 1: from the federal government. Bloomberg Wall Street reporters Street not 362 00:19:41,240 --> 00:19:43,840 Speaker 1: Rogen is with us this morning, one of the authors 363 00:19:43,880 --> 00:19:46,879 Speaker 1: of this morning's Big Take story Street. Good to have 364 00:19:46,960 --> 00:19:49,760 Speaker 1: you with us this morning. We have certainly seen how 365 00:19:49,800 --> 00:19:54,119 Speaker 1: big these bonuses have been and the overall compensation packages 366 00:19:54,640 --> 00:19:57,639 Speaker 1: for Wall Street bankers. You look at the CEOs of 367 00:19:57,680 --> 00:20:00,720 Speaker 1: the big six Wall Street banks and it's almost like 368 00:20:00,760 --> 00:20:04,240 Speaker 1: an arms race in terms of trying to retain and 369 00:20:04,359 --> 00:20:07,560 Speaker 1: hold on to talent at the trading desks. Absolutely, we 370 00:20:07,640 --> 00:20:10,120 Speaker 1: haven't seen this level of be out for the top 371 00:20:10,280 --> 00:20:13,600 Speaker 1: rainmakers at the biggest banks in the United States in 372 00:20:13,640 --> 00:20:15,960 Speaker 1: over ten years. The last time that happened was one 373 00:20:16,040 --> 00:20:20,000 Speaker 1: year after the Great Financial Crisis, and that invited the 374 00:20:20,400 --> 00:20:23,480 Speaker 1: get Bigger on Wall Street. Bloomberg Wall Street reporter Shre 375 00:20:23,840 --> 00:20:26,560 Speaker 1: not a Rogen with us this morning with the Bloomberg 376 00:20:26,640 --> 00:20:29,359 Speaker 1: Big Take. You can read all about it at Bloomberg 377 00:20:29,400 --> 00:20:32,720 Speaker 1: dot com, Slash Big Take and I Big Take go 378 00:20:33,240 --> 00:20:36,439 Speaker 1: on the Bloomberg terminal. Karen Nathan at is six thirty 379 00:20:36,560 --> 00:20:39,840 Speaker 1: on Wall Street. This is Bloomberg Daybreak. I'm Karen Moscow 380 00:20:39,880 --> 00:20:42,399 Speaker 1: along with Nathan Hagar, and we're just about three hours 381 00:20:42,440 --> 00:20:44,840 Speaker 1: away from the open of US trading time for the 382 00:20:44,880 --> 00:20:47,000 Speaker 1: five things you need to know to start your day, 383 00:20:47,280 --> 00:20:50,600 Speaker 1: Brought to you by Interactive Brokers. Trade crypto for less 384 00:20:50,600 --> 00:20:53,280 Speaker 1: coin with commissions just twelve to eighteen basis points and 385 00:20:53,359 --> 00:20:56,560 Speaker 1: no hidden spreads or markups. Learn more at ibkr dot 386 00:20:56,600 --> 00:21:00,679 Speaker 1: com slash crypto at First Nowsday, futures are hire, building 387 00:21:00,680 --> 00:21:03,960 Speaker 1: on three straight days of gains. That catalyst this morning 388 00:21:04,240 --> 00:21:07,520 Speaker 1: strong earnings from Alphabet Angelo Zo, as an analyst at 389 00:21:07,520 --> 00:21:09,920 Speaker 1: CFRE A, you know, kind of going into the quarter, 390 00:21:09,920 --> 00:21:12,120 Speaker 1: I think there might have been some concerns about some 391 00:21:12,160 --> 00:21:14,880 Speaker 1: of the supply constraints going on the market and potentially 392 00:21:14,960 --> 00:21:17,679 Speaker 1: hindering some of the ad spend out there, but kind 393 00:21:17,680 --> 00:21:19,400 Speaker 1: of look at the search business and I think that's 394 00:21:19,400 --> 00:21:22,000 Speaker 1: really kind of a big winner here of thirty percent 395 00:21:22,080 --> 00:21:24,840 Speaker 1: and really kind of blew our numbers away. C f 396 00:21:24,960 --> 00:21:27,520 Speaker 1: r A analyst Angelo Zo says a stock split is 397 00:21:27,560 --> 00:21:30,639 Speaker 1: also lifting Alphabet shares. The company will increase its outstanding 398 00:21:30,680 --> 00:21:33,560 Speaker 1: shares by a twenty to one ratio. And we're also 399 00:21:33,600 --> 00:21:36,359 Speaker 1: watching another high tech company rally this morning. Karen Shares 400 00:21:36,400 --> 00:21:39,120 Speaker 1: of a m D are up eleven percent. The chip 401 00:21:39,119 --> 00:21:42,280 Speaker 1: maker gave a surprisingly strong sales forecast, suggesting it's making 402 00:21:42,320 --> 00:21:45,600 Speaker 1: further gains on rival Intel. This afternoon, we hear from 403 00:21:45,760 --> 00:21:49,240 Speaker 1: Facebook parent Meta Platforms General Motors is of nearly one 404 00:21:49,280 --> 00:21:51,960 Speaker 1: percent in the pre market. The company's earnings beat estimates, 405 00:21:51,960 --> 00:21:54,800 Speaker 1: while it's forecast was in line with predictions. GMCs that 406 00:21:54,880 --> 00:21:57,960 Speaker 1: semiconductor shortage easing this year, but says lower volume and 407 00:21:58,080 --> 00:22:02,119 Speaker 1: higher costs overstrained profits outside corporate earning scaring A measured 408 00:22:02,160 --> 00:22:04,800 Speaker 1: tone from the Fed is also boosting stocks. We get 409 00:22:04,840 --> 00:22:07,960 Speaker 1: that story livee from Bloomberg's Ranna Young Rinita Nathan. Central 410 00:22:07,960 --> 00:22:10,560 Speaker 1: Bank officials are laying out a gradual approach to the 411 00:22:10,600 --> 00:22:13,480 Speaker 1: path for rate hikes this year. That differs from some 412 00:22:13,560 --> 00:22:16,720 Speaker 1: Wall Street forecasts, which include as many as seven rate 413 00:22:16,800 --> 00:22:19,720 Speaker 1: hikes this year and even a fifty basis point hike 414 00:22:19,920 --> 00:22:22,760 Speaker 1: next month. So far, none of the Fed officials speaking 415 00:22:22,800 --> 00:22:25,120 Speaker 1: this week have backed the idea of such an increase 416 00:22:25,160 --> 00:22:27,440 Speaker 1: in March. The most hawk ish of them all St. 417 00:22:27,480 --> 00:22:31,639 Speaker 1: Louis President James Bullard says five hikes is quote not 418 00:22:31,800 --> 00:22:35,000 Speaker 1: too bad. A bed Kansas City Fed chief Esther George 419 00:22:35,040 --> 00:22:38,160 Speaker 1: is another hawk and she says ideally the Fed prefers 420 00:22:38,200 --> 00:22:41,280 Speaker 1: to go gradually live in New York. I'm Nita Young 421 00:22:41,280 --> 00:22:44,159 Speaker 1: Bloomberg daybreak, all right, Rinita, thank you, And oil is 422 00:22:44,200 --> 00:22:46,359 Speaker 1: trading near a seven year high a head of an 423 00:22:46,359 --> 00:22:49,359 Speaker 1: OPEC plus meeting. Oh packnast allies are expected to approve 424 00:22:49,400 --> 00:22:52,560 Speaker 1: another modished oil output in Greece today, at the same 425 00:22:52,600 --> 00:22:55,320 Speaker 1: time they'll have to struggle to deliver checking oil right now, 426 00:22:55,359 --> 00:22:58,439 Speaker 1: and IMAX screwed oil is now lowered down about two 427 00:22:58,520 --> 00:23:00,919 Speaker 1: tons of upper cent or seven cents at eighty eight 428 00:23:00,960 --> 00:23:03,800 Speaker 1: dollars three cents of barrel, and brent is down about 429 00:23:03,800 --> 00:23:05,880 Speaker 1: a third of a percent at eighty eight dollars eighty 430 00:23:05,960 --> 00:23:08,440 Speaker 1: five cents. And that s the five things you need 431 00:23:08,480 --> 00:23:10,760 Speaker 1: to know to start your day, brought to you by 432 00:23:10,960 --> 00:23:15,600 Speaker 1: Interactive Brokers and again SMP futures are higher up thirty 433 00:23:15,640 --> 00:23:19,159 Speaker 1: two points down, futures up thirty five, NASDAG futures up 434 00:23:19,160 --> 00:23:22,280 Speaker 1: two hundred sixteen that's up one and a half percent, 435 00:23:22,600 --> 00:23:25,560 Speaker 1: and the ten year treasury little change, the yield one 436 00:23:25,600 --> 00:23:29,399 Speaker 1: point seven eight per cent. Straight ahead, your latest local 437 00:23:29,440 --> 00:23:33,760 Speaker 1: headlines plus a check of sports. And this is Bloomberg, 438 00:23:38,119 --> 00:23:40,160 Speaker 1: all right, Karen, Thanks, six thirty three on Wall Street 439 00:23:40,160 --> 00:23:43,240 Speaker 1: were thirty four degrees in Central Park and save forty 440 00:23:43,400 --> 00:23:45,760 Speaker 1: minute delays on the inbound upper level of the George 441 00:23:45,800 --> 00:23:48,920 Speaker 1: Washington Bridge. Details coming up in Traffic First Michael Barr 442 00:23:49,000 --> 00:23:50,560 Speaker 1: with more on what's going on in New York and 443 00:23:50,640 --> 00:23:53,480 Speaker 1: around the world. Michael, thank you very much. Nathan. Funeral 444 00:23:53,520 --> 00:23:56,320 Speaker 1: services will take place today for n y p D 445 00:23:56,480 --> 00:24:00,440 Speaker 1: officer Wilbert Mora, year old, was killed in the line 446 00:24:00,440 --> 00:24:03,600 Speaker 1: of duty last month along with his partner, Jason Rivera. 447 00:24:03,800 --> 00:24:06,600 Speaker 1: More as organs were donated to help save at least 448 00:24:06,600 --> 00:24:09,600 Speaker 1: five other lives. More Up will be buried in Queens 449 00:24:09,680 --> 00:24:13,680 Speaker 1: after services at St. Patrick's Cathedral in Manhattan. This as, 450 00:24:13,720 --> 00:24:17,040 Speaker 1: an off duty NYPD officer was shout in Queen's last night. 451 00:24:17,160 --> 00:24:21,120 Speaker 1: He's expected to survive. Tomorrow. Mayor Eric Adams says he's 452 00:24:21,119 --> 00:24:24,280 Speaker 1: getting ready to host President Biden for a discussion about 453 00:24:24,400 --> 00:24:29,280 Speaker 1: gun violence. We want to lay out clear items we 454 00:24:29,400 --> 00:24:32,760 Speaker 1: need on the federal level, just as we did with 455 00:24:32,880 --> 00:24:40,440 Speaker 1: state lawmakers. Everyone must be on the same team. Adams 456 00:24:40,440 --> 00:24:43,399 Speaker 1: will also be joined by New York Governor Kathy Hokel 457 00:24:43,560 --> 00:24:47,760 Speaker 1: and other elected officials. Russian President Vladimir Putin is breaking 458 00:24:47,760 --> 00:24:50,560 Speaker 1: his silence on the U S Military support for Ukraine. 459 00:24:50,960 --> 00:24:54,520 Speaker 1: Putin accused the US and the West of ignoring Moscow's 460 00:24:54,520 --> 00:24:58,120 Speaker 1: security concerns. White Now spokesperson Jen Psaki, we don't know 461 00:24:58,240 --> 00:25:00,840 Speaker 1: what President Putin is going to do uh and it 462 00:25:00,920 --> 00:25:05,520 Speaker 1: is our responsibility to UM and it's an imperative to 463 00:25:06,480 --> 00:25:10,360 Speaker 1: keep the door to diplomacy open. White House spokesperson Jen Psaki. 464 00:25:10,720 --> 00:25:14,639 Speaker 1: Faizer is asking US regulators to authorize extra low doses 465 00:25:14,680 --> 00:25:17,960 Speaker 1: of its COVID nineteen vaccine for children five and under. 466 00:25:18,480 --> 00:25:21,040 Speaker 1: The move could open the way for the very youngest 467 00:25:21,080 --> 00:25:25,480 Speaker 1: Americans to start receiving shots by early March. The FBI 468 00:25:25,720 --> 00:25:29,560 Speaker 1: is warning of cyber attacks aimed at disrupting the Beijing Olympics. 469 00:25:29,800 --> 00:25:33,600 Speaker 1: Bloomberg's At Baxter reports. The FBI warning says the targets 470 00:25:33,600 --> 00:25:36,160 Speaker 1: will be entities associated with the Olympics and that they 471 00:25:36,200 --> 00:25:40,560 Speaker 1: could have activities disrupted by a broad range of cyber movements. 472 00:25:40,920 --> 00:25:47,280 Speaker 1: It warns of ransomware, malware, social engineering, data theft, phishing campaigns, 473 00:25:47,359 --> 00:25:51,639 Speaker 1: and disinformation campaigns. The FBI is also sending a follow 474 00:25:51,720 --> 00:25:54,280 Speaker 1: up reminder to those traveling that they could be the 475 00:25:54,320 --> 00:25:58,800 Speaker 1: targets of mobile phone attacks as well. In San Francisco, 476 00:25:58,840 --> 00:26:02,120 Speaker 1: I'm at Baxter Bloomberg a Break. ABC is suspending Whoopee 477 00:26:02,119 --> 00:26:04,800 Speaker 1: Goldberg for two weeks from the view after her response 478 00:26:04,840 --> 00:26:08,080 Speaker 1: that the Holocaust was not related to race. ABC News 479 00:26:08,160 --> 00:26:11,560 Speaker 1: president Kim Godwin says Bill Whoopee has apologized. I've asked 480 00:26:11,560 --> 00:26:13,960 Speaker 1: her to take time to reflect and learned about the 481 00:26:13,960 --> 00:26:16,800 Speaker 1: impact of her comments. Global News twenty four hours a 482 00:26:16,880 --> 00:26:19,159 Speaker 1: day on air, end on Bloomberg Quicktake, powered by more 483 00:26:19,160 --> 00:26:21,280 Speaker 1: than twenty seven hundred journalists and analysts more than a 484 00:26:21,320 --> 00:26:25,360 Speaker 1: hundred twenty countries. Michael barn this is Bloomberg, Nathan, Thank you, Michael. 485 00:26:29,240 --> 00:26:31,520 Speaker 1: Just about six thirty six on Wall Street, John Stashire 486 00:26:31,520 --> 00:26:33,680 Speaker 1: has the Bloomberg Sports Update all right. That it was 487 00:26:33,720 --> 00:26:36,919 Speaker 1: in two thousand and four, team at the Patriots, sensing 488 00:26:36,920 --> 00:26:39,280 Speaker 1: that Tom Brady, then thirty seven, was nearing the end 489 00:26:39,320 --> 00:26:42,040 Speaker 1: of his brilliant career, drafted a quarterback to replace him, 490 00:26:42,080 --> 00:26:45,920 Speaker 1: Jimmy Garoppolob Brady said back then, when he stinks, he'll retire. 491 00:26:45,960 --> 00:26:48,600 Speaker 1: He's now forty four, he is retiring, But he never 492 00:26:48,680 --> 00:26:51,600 Speaker 1: did stink. In fact, Brady's final season with Tampa Bay 493 00:26:51,680 --> 00:26:54,159 Speaker 1: was one of his best, over fifty three hundred passing yards, 494 00:26:54,359 --> 00:26:56,879 Speaker 1: forty three touchdowns. It's gonna be very hard for anyone 495 00:26:56,920 --> 00:27:00,000 Speaker 1: to break Brady's records. He's got a hundred and seven 496 00:27:00,160 --> 00:27:04,200 Speaker 1: four more touchdown passes than any active qv. Garoppolo never 497 00:27:04,240 --> 00:27:06,240 Speaker 1: did replace Brady in New England. Maybe he'll do it 498 00:27:06,240 --> 00:27:09,520 Speaker 1: now with Tampa. Bay Forts are expected to treat Garoppolo 499 00:27:09,600 --> 00:27:13,159 Speaker 1: stunning allegations made by Brian Flores in the lawsuit he 500 00:27:13,160 --> 00:27:15,840 Speaker 1: filed in Manhattan Federal court accusing the NFL and three 501 00:27:15,880 --> 00:27:19,320 Speaker 1: teams of racism in their hiring practices. Not only that 502 00:27:19,400 --> 00:27:22,800 Speaker 1: the Broncos in two thousand nineteen and the Giants recently 503 00:27:23,200 --> 00:27:25,280 Speaker 1: interviewed them for a head coaching job they knew they 504 00:27:25,280 --> 00:27:27,080 Speaker 1: were not going to offer to him, but that in 505 00:27:27,160 --> 00:27:30,280 Speaker 1: flores first season as head coach in Miami, owner Stephen 506 00:27:30,320 --> 00:27:34,119 Speaker 1: Ross offered a hundred thousand dollars for each loss. He 507 00:27:34,200 --> 00:27:36,600 Speaker 1: says Ross wanted to lose so they'd get a better 508 00:27:36,680 --> 00:27:40,680 Speaker 1: draft pick. Nets lost in Phoenix one eleven. Devin Booker 509 00:27:40,720 --> 00:27:43,600 Speaker 1: scores thirty five, the Sons are forty one and nine. 510 00:27:43,760 --> 00:27:45,840 Speaker 1: Rangers at the Garden beat Flour to five to two. 511 00:27:46,160 --> 00:27:48,520 Speaker 1: Two more power play goals for Chris Cryder are semi 512 00:27:48,520 --> 00:27:52,119 Speaker 1: Panarina goal to assist Islanders beat Ottawa for one. Devil's 513 00:27:52,119 --> 00:27:55,720 Speaker 1: lost to Toronto seven oh one. St John's upset bid 514 00:27:55,760 --> 00:27:59,520 Speaker 1: fell short lost to Providence eight eighty two. Seaton Hall 515 00:27:59,560 --> 00:28:02,480 Speaker 1: beat George Town What is lost in overtime by one 516 00:28:02,920 --> 00:28:06,840 Speaker 1: at Northwestern John stash award Bloomberg Sports Nathan thanks John. 517 00:28:06,880 --> 00:28:09,200 Speaker 1: Six seven on Wall Street, Time to take a look 518 00:28:09,240 --> 00:28:10,879 Speaker 1: at stocks, some of the names moving in the pre 519 00:28:11,000 --> 00:28:14,360 Speaker 1: market with Bloomberg Radio and TV Markets correspondent Creaty gufta, 520 00:28:14,840 --> 00:28:17,920 Speaker 1: shall we talk about Alphabet? Creaty? I guess we have to, 521 00:28:18,119 --> 00:28:22,600 Speaker 1: Nathan right, Well, Alphabet coming out reporting some pretty great 522 00:28:22,640 --> 00:28:26,040 Speaker 1: sales and profit. You do have the analysts over BMO 523 00:28:26,119 --> 00:28:28,719 Speaker 1: basically just summing it up by saying the search engine 524 00:28:28,840 --> 00:28:32,040 Speaker 1: is crushing it. Again, that is a direct quote. But 525 00:28:32,119 --> 00:28:34,000 Speaker 1: I think the real highlight when it comes to Alphabet 526 00:28:34,040 --> 00:28:37,080 Speaker 1: is the fact that they are bringing back big stock splits, 527 00:28:37,119 --> 00:28:39,560 Speaker 1: a twenty for one stock split to be exact. And 528 00:28:39,600 --> 00:28:42,240 Speaker 1: this is of course, so that prospective buyers won't need 529 00:28:42,320 --> 00:28:45,480 Speaker 1: upwards of three thousand dollars to own a share. Uh. 530 00:28:45,560 --> 00:28:48,640 Speaker 1: The CFO Ruth Poorat says it's to make shares more accessible, 531 00:28:48,640 --> 00:28:50,760 Speaker 1: so once again trying to access the retail crowd. We 532 00:28:50,840 --> 00:28:54,080 Speaker 1: know the Apple has done this before. It's curious what 533 00:28:54,200 --> 00:28:57,480 Speaker 1: the next big company, big tech company is gonna use 534 00:28:57,800 --> 00:29:00,720 Speaker 1: this method. But for now it's actually gaining alphabet about 535 00:29:00,800 --> 00:29:04,720 Speaker 1: four price upgrades or price target upgrades. I should say 536 00:29:04,920 --> 00:29:06,880 Speaker 1: it's not the only one who had a pretty blowout 537 00:29:06,880 --> 00:29:08,840 Speaker 1: fourth quarter though. A m D as well. Oh, I 538 00:29:08,840 --> 00:29:11,600 Speaker 1: should mention he sees me aphabet up to over ten percent. 539 00:29:11,720 --> 00:29:14,360 Speaker 1: A m D also up over ten percent. This comes 540 00:29:14,400 --> 00:29:18,080 Speaker 1: after the tripmaker reported fourth quarter results that beat expectations, 541 00:29:18,080 --> 00:29:21,320 Speaker 1: gaining itself to analysts to raise their price targets on 542 00:29:21,400 --> 00:29:23,320 Speaker 1: the stock as well. A m D is also the 543 00:29:23,360 --> 00:29:27,160 Speaker 1: ticker and with it in sympathy it's latest acquisition x 544 00:29:27,320 --> 00:29:31,000 Speaker 1: L and X which is up that of course the sylence. 545 00:29:31,080 --> 00:29:32,920 Speaker 1: I don't think the acquisition is closed yet, but you 546 00:29:32,920 --> 00:29:35,680 Speaker 1: can see the stocks are trading very closely together. Yeah, 547 00:29:35,680 --> 00:29:38,200 Speaker 1: obviously a lot of focus on tech this morning. What 548 00:29:38,240 --> 00:29:40,840 Speaker 1: are you looking outside of tech though, Yeah, a ton 549 00:29:40,920 --> 00:29:44,040 Speaker 1: of tech. I guess this counts as maybe fintech. Here paypals, 550 00:29:44,080 --> 00:29:46,120 Speaker 1: what's got my i p y p L is your 551 00:29:46,160 --> 00:29:49,240 Speaker 1: ticker down six team percent? It is the worst performer 552 00:29:49,280 --> 00:29:51,280 Speaker 1: in the pre market right now of the S and 553 00:29:51,320 --> 00:29:53,120 Speaker 1: P five pounder. We still have three hours ago before 554 00:29:53,120 --> 00:29:55,440 Speaker 1: the opening bells, but still PayPal kind of takes the 555 00:29:55,520 --> 00:29:58,320 Speaker 1: cap plummeting after saying it's growth and spending on its 556 00:29:58,360 --> 00:30:01,800 Speaker 1: platform continue to low during the fourth quarter as economies 557 00:30:01,840 --> 00:30:05,560 Speaker 1: around the world reopened and consumers flocked to in store shopping. 558 00:30:05,800 --> 00:30:08,320 Speaker 1: PayPal is not alone in seeing this dynamic. Other fintech 559 00:30:08,360 --> 00:30:11,240 Speaker 1: companies have as well. After pay for example, has made 560 00:30:11,320 --> 00:30:13,840 Speaker 1: us some similar comments. I should also mention another big 561 00:30:13,840 --> 00:30:16,000 Speaker 1: downside mover, and that of course is Starbucks s b 562 00:30:16,240 --> 00:30:18,120 Speaker 1: u X. Is your ticker down just I have three 563 00:30:18,120 --> 00:30:20,600 Speaker 1: percent in the pre market. This comes after the company 564 00:30:20,680 --> 00:30:24,160 Speaker 1: did release an updated forecast that projects a slight impact 565 00:30:24,200 --> 00:30:27,600 Speaker 1: on profits, but really they emphasize those surging costs relate 566 00:30:27,640 --> 00:30:29,840 Speaker 1: to labor and the ongoing pandemic. Nathan, I don't know 567 00:30:29,840 --> 00:30:31,560 Speaker 1: when the last time you went to Starbucks was, but 568 00:30:31,880 --> 00:30:35,360 Speaker 1: I was horrified when my coffee went from five dollars 569 00:30:35,360 --> 00:30:39,640 Speaker 1: and seventy five cents to six dollars, five dollars above 570 00:30:39,760 --> 00:30:42,640 Speaker 1: five dollars. My parents were like, I remember when coffee 571 00:30:42,680 --> 00:30:44,880 Speaker 1: was two dollars and fifty cents. I was like, that's 572 00:30:44,880 --> 00:30:49,920 Speaker 1: not in my life time. Starbucks, Radio and TV markets corresponded, 573 00:30:49,960 --> 00:30:52,840 Speaker 1: Crety Gupta, head back to the pantry, Go get some 574 00:30:52,880 --> 00:30:55,400 Speaker 1: more coffee. We all know you'll need it this morning 575 00:30:55,440 --> 00:30:57,480 Speaker 1: and through the rest of the day as we keep 576 00:30:57,520 --> 00:31:01,480 Speaker 1: tech earnings in focus. Of course, we heard from Google's 577 00:31:01,520 --> 00:31:05,240 Speaker 1: parent company, Alphabet. We're waiting for meta platforms to report 578 00:31:05,320 --> 00:31:08,080 Speaker 1: after the closing bell. Taking a look at stocks as 579 00:31:08,120 --> 00:31:10,840 Speaker 1: a whole ahead of the wolpen this morning. On this Wednesday, 580 00:31:10,920 --> 00:31:13,560 Speaker 1: SMP futures are up thirty three points down, futures up 581 00:31:13,600 --> 00:31:16,680 Speaker 1: thirty eight. Tech heavy Nasdaq futures leading the games this 582 00:31:16,720 --> 00:31:18,760 Speaker 1: morning up two or nineteen points or one and a 583 00:31:18,800 --> 00:31:24,240 Speaker 1: half percent. This is Bloomberg Bloomberg eleven three oh weather 584 00:31:24,320 --> 00:31:26,360 Speaker 1: mix of sun and clouds today with a high forty 585 00:31:26,360 --> 00:31:29,400 Speaker 1: five degrees, afternoon rain tomorrow mid forties. That rain condend 586 00:31:29,480 --> 00:31:32,080 Speaker 1: is wet, snow or sleet Friday with a higher thirty 587 00:31:32,160 --> 00:31:38,080 Speaker 1: five currently thirty five degrees in Central Park Markets. Headlines 588 00:31:38,120 --> 00:31:41,080 Speaker 1: and breaking news twenty four hours a day at Bloomberg 589 00:31:41,160 --> 00:31:44,240 Speaker 1: dot Com, the Bloomberg Business apt and at Bloomberg Quick 590 00:31:44,280 --> 00:31:54,160 Speaker 1: Takes a Bloomberg business Flash and I'm Karen. Moscow and 591 00:31:54,200 --> 00:31:56,920 Speaker 1: NAZDAC futures are jumping this morning, we get to the 592 00:31:56,920 --> 00:31:59,560 Speaker 1: first word breaking news dance for today's morning call. Here's 593 00:31:59,560 --> 00:32:02,840 Speaker 1: film the O A good morning, Bill, Hey, good morning Karen. 594 00:32:02,880 --> 00:32:05,000 Speaker 1: That's right now is that futures are surging on the 595 00:32:05,040 --> 00:32:08,440 Speaker 1: heels of the Google earnings doubt. Futures tourmally up fifty points, 596 00:32:08,400 --> 00:32:11,040 Speaker 1: SUPs rise thirty four, while the NASDEK futures are up 597 00:32:11,040 --> 00:32:14,320 Speaker 1: two hundred and twenty. The US ten year old at 598 00:32:14,360 --> 00:32:17,560 Speaker 1: one point seven nine percent, Golden oil are a little changed. 599 00:32:17,640 --> 00:32:20,680 Speaker 1: Bitcoin is also trading little change, while your fe markets 600 00:32:20,680 --> 00:32:23,200 Speaker 1: are in the green this morning. Back in the US, 601 00:32:23,280 --> 00:32:27,120 Speaker 1: on the economic front, DP employment change, and after the 602 00:32:27,120 --> 00:32:30,480 Speaker 1: bells night, PayPal reported a slower than expected finish to 603 00:32:30,640 --> 00:32:34,080 Speaker 1: the year, shares our plunging sixtent. In the pre market, 604 00:32:34,240 --> 00:32:38,560 Speaker 1: we mentioned Google, that company announced one stock split, Starbucks 605 00:32:38,600 --> 00:32:42,040 Speaker 1: warned on labor costs, and am D reported strong sales 606 00:32:42,080 --> 00:32:45,920 Speaker 1: guidance regarding earnings. This morning, Boston Scientific beat estimates and 607 00:32:46,000 --> 00:32:50,920 Speaker 1: capre holdings raised fisk gear adjusted EPs outlook. Wrapping things up, 608 00:32:50,920 --> 00:32:53,280 Speaker 1: Sinoco was cut to neutral at City Group under ARMO 609 00:32:53,360 --> 00:32:57,200 Speaker 1: raised Overweight at Morgan Stanley and paypalas to market perform 610 00:32:57,240 --> 00:33:00,520 Speaker 1: at Raymond James Live from the first breaking new sescon 611 00:33:00,560 --> 00:33:02,920 Speaker 1: Bill Maloney care right, Bill, thank you to hear live 612 00:33:02,960 --> 00:33:06,080 Speaker 1: breaking news of her Bloomberg t squawk on your terminal scue. 613 00:33:06,160 --> 00:33:08,600 Speaker 1: You a w K and that's a Bloomberg business flash. 614 00:33:08,600 --> 00:33:10,840 Speaker 1: Now here's Michael Barrow with Moore on what's going on 615 00:33:10,880 --> 00:33:13,960 Speaker 1: around the world. Michael Karen, thank you very much. In Virginia, 616 00:33:14,080 --> 00:33:17,400 Speaker 1: students and staff at Bridgewater College are in mourning after 617 00:33:17,440 --> 00:33:21,040 Speaker 1: two security officers were shot to death. The suspect is 618 00:33:21,040 --> 00:33:25,160 Speaker 1: in custody. Fired Miami Dolphins coach Brian Flores has sued 619 00:33:25,160 --> 00:33:28,440 Speaker 1: the NFL and three teams, including the Giants, a llegend 620 00:33:28,560 --> 00:33:32,840 Speaker 1: racist hiring practices by the league. The Washington Football team 621 00:33:32,840 --> 00:33:36,440 Speaker 1: will announce its new name and logo today in the NBA, 622 00:33:36,480 --> 00:33:38,960 Speaker 1: and the Nets and Wizards lost, the Warriors one in 623 00:33:39,000 --> 00:33:42,560 Speaker 1: the NHL, the Rangers, Islanders and Bruins one, the Capitol's 624 00:33:42,600 --> 00:33:45,680 Speaker 1: one in OT the Devil's Lost. Global News twenty four 625 00:33:45,680 --> 00:33:48,840 Speaker 1: hours a day on airand on Bloomberg Quick Tank, powered 626 00:33:48,840 --> 00:33:51,400 Speaker 1: by more than twenty seven hundred journalists and analysts, more 627 00:33:51,400 --> 00:33:54,719 Speaker 1: than a hundred twenty countries. I'm Michael barn This is Bloomberg. 628 00:33:55,520 --> 00:34:00,440 Speaker 1: The following commentary is from Bloomberg Opinion. Big Ol locates 629 00:34:00,440 --> 00:34:03,560 Speaker 1: to a different planet. I'm Liam Denning, a columnist for 630 00:34:03,560 --> 00:34:06,920 Speaker 1: Bloomberg Opinion. Ex On Mobile is on the move, shifting 631 00:34:06,920 --> 00:34:10,440 Speaker 1: its HQ from the Dallas suburbs to America's oil capital, Houston. 632 00:34:10,680 --> 00:34:13,960 Speaker 1: The oil major announcer relocation a day before reporting its 633 00:34:14,000 --> 00:34:17,160 Speaker 1: best annual results in more than a decade. The office 634 00:34:17,200 --> 00:34:20,800 Speaker 1: moves looks like standard rationalization. Exon has a big campus 635 00:34:20,840 --> 00:34:24,040 Speaker 1: already in Houston, and after recent layoffs, presumably has some 636 00:34:24,120 --> 00:34:27,560 Speaker 1: spare desks. Yet booming profits might suggest there was little 637 00:34:27,600 --> 00:34:31,640 Speaker 1: need for belt tightening. The two are in fact inextricably linked. 638 00:34:31,880 --> 00:34:34,879 Speaker 1: Unlike back in two thousand and eight, Excell's big free 639 00:34:34,880 --> 00:34:39,280 Speaker 1: cash flow numbers reflect tight spending to recapture investor's confidence 640 00:34:39,640 --> 00:34:42,960 Speaker 1: after several years of borrowing heavily to cover dividends. Being 641 00:34:43,040 --> 00:34:46,040 Speaker 1: big oil these days means really sweating the small stuff. 642 00:34:46,719 --> 00:34:49,560 Speaker 1: I'm Liam Denning. For more opinion, please go to Bloomberg 643 00:34:49,600 --> 00:34:52,560 Speaker 1: dot com, slash opinion or O P I N go 644 00:34:53,040 --> 00:34:56,799 Speaker 1: on the Bloomberg terminal these has been Bloomberg Opinion and 645 00:34:56,800 --> 00:34:59,640 Speaker 1: Bloomberg Opinion commentary is gonna be heard every weekday at 646 00:34:59,680 --> 00:35:02,320 Speaker 1: this time and terminal customers can read more at O 647 00:35:02,520 --> 00:35:05,680 Speaker 1: p I n GO. It is six fifty on Wall Street. 648 00:35:05,719 --> 00:35:08,120 Speaker 1: Return to news and science and technology now with a 649 00:35:08,160 --> 00:35:10,920 Speaker 1: Bloomberg and j I T STEM report brought to you 650 00:35:11,040 --> 00:35:15,719 Speaker 1: by New Jersey Institute of Technology, Transforming computing professionals and 651 00:35:15,760 --> 00:35:18,760 Speaker 1: a data scientists to be demand in this fast growing field. 652 00:35:19,000 --> 00:35:20,719 Speaker 1: Learn more at n j I T DOT E d 653 00:35:20,880 --> 00:35:24,799 Speaker 1: U slash Data Science Now. Here's it's making news and science, technology, 654 00:35:24,840 --> 00:35:28,439 Speaker 1: engineering and math. The World Health Organization warrants that now 655 00:35:28,640 --> 00:35:31,080 Speaker 1: is not the time to be lifting public health measures. 656 00:35:31,160 --> 00:35:34,040 Speaker 1: The w h O said that COVID case reporting is 657 00:35:34,080 --> 00:35:38,279 Speaker 1: an under estimate and not a great proxy for understanding 658 00:35:38,360 --> 00:35:41,359 Speaker 1: virus circulation. That came on the same day that New 659 00:35:41,440 --> 00:35:44,560 Speaker 1: York State reported at nine drop and infections from the 660 00:35:44,600 --> 00:35:48,280 Speaker 1: peak a few weeks ago. New Orleans is requiring COVID 661 00:35:48,360 --> 00:35:51,480 Speaker 1: vaccinations for all students ages five and up. That makes 662 00:35:51,480 --> 00:35:54,080 Speaker 1: it one of the first major school districts to require 663 00:35:54,160 --> 00:35:58,680 Speaker 1: such mandates. Families may still claim exemptions for philosophical, religious, 664 00:35:58,760 --> 00:36:02,320 Speaker 1: or medical needs. And Senators Ed Markey and Elizabeth Warren, 665 00:36:02,320 --> 00:36:05,520 Speaker 1: both Democrats or Massachusetts, called on the Justice Department to 666 00:36:05,560 --> 00:36:10,160 Speaker 1: crack down on retailers selling counterfeit masks. Reports of fraudulent 667 00:36:10,239 --> 00:36:14,600 Speaker 1: or counterfeit mass of skyrocketed during the pandemic, as have prices. 668 00:36:14,800 --> 00:36:18,080 Speaker 1: The senator's letter comes as the Centers for Disease Control 669 00:36:18,080 --> 00:36:21,640 Speaker 1: and Prevention updated its mask advice last month to reflect 670 00:36:21,719 --> 00:36:25,360 Speaker 1: that respirator style face coverings K and nine fives or 671 00:36:25,400 --> 00:36:28,880 Speaker 1: and nine fives are more effective at preventing COVID nineteen 672 00:36:28,960 --> 00:36:32,759 Speaker 1: transmission than cloth or surgical masks. And that's the Bloomberg 673 00:36:32,840 --> 00:36:35,520 Speaker 1: and J. I. T. Stem Report. Nathan, all right, Karen, 674 00:36:35,560 --> 00:36:38,240 Speaker 1: thank you. We're live from the Bloomberg Interactive Brokers Studios 675 00:36:38,360 --> 00:36:40,279 Speaker 1: or at six fifty one on Wall Street. Time out 676 00:36:40,280 --> 00:36:41,799 Speaker 1: to check what's going on in d C, where some 677 00:36:41,840 --> 00:36:44,960 Speaker 1: of the top stories include Senate Democrats regrouping after defeat 678 00:36:44,960 --> 00:36:48,000 Speaker 1: on voting rights, Republican opposition building to the U. S. 679 00:36:48,080 --> 00:36:51,560 Speaker 1: China competition bill in the House, and Democratic Senator Ben 680 00:36:51,640 --> 00:36:55,520 Speaker 1: Ray Luhan recovering from a stroke. Also making news, President 681 00:36:55,600 --> 00:36:59,440 Speaker 1: Biden reviving the cancer moonshot with an ambitious plan to 682 00:36:59,520 --> 00:37:02,560 Speaker 1: cut the rate in half. Let's bring in Bloomberg Government 683 00:37:02,600 --> 00:37:06,720 Speaker 1: reporter Emily Wilkins this morning. Emily, this was an issue 684 00:37:06,840 --> 00:37:09,960 Speaker 1: that was near and dear to President Biden's heart when 685 00:37:09,960 --> 00:37:13,120 Speaker 1: he was Vice President Biden, So what's the plan to 686 00:37:13,120 --> 00:37:17,480 Speaker 1: bring it back now? The cancer moonshot? S Nathan. The 687 00:37:17,560 --> 00:37:20,319 Speaker 1: idea for this is to really sort of re up 688 00:37:20,360 --> 00:37:23,240 Speaker 1: the program, kind of get it a new life, really 689 00:37:23,239 --> 00:37:26,680 Speaker 1: continued pushing with it. I mean remember initially the program 690 00:37:26,719 --> 00:37:30,480 Speaker 1: got one point billion dollars in funding. Uh not all 691 00:37:30,520 --> 00:37:33,439 Speaker 1: of that I think has been spent. Um. There's also 692 00:37:33,640 --> 00:37:37,880 Speaker 1: deserve a new desire for Biden administration to start talking 693 00:37:37,880 --> 00:37:41,239 Speaker 1: about this issue again. Obviously, as you mentioned, it's very 694 00:37:41,239 --> 00:37:44,040 Speaker 1: close to President Biden's heart, given at his son both 695 00:37:44,200 --> 00:37:48,520 Speaker 1: passed after a very aggressive brain cancer. UM. You know, 696 00:37:48,840 --> 00:37:51,040 Speaker 1: one thing to note is that the way they're not 697 00:37:51,080 --> 00:37:54,120 Speaker 1: really talking about caring cancer anymore, but they want to 698 00:37:54,160 --> 00:37:57,799 Speaker 1: talk about the new progress on cancer um finding the 699 00:37:57,840 --> 00:38:01,160 Speaker 1: new research allowing people to either live longer or be 700 00:38:01,200 --> 00:38:04,040 Speaker 1: able to beat their cancer. And so these are all 701 00:38:04,080 --> 00:38:06,040 Speaker 1: things I mean, I see, this is the issue once 702 00:38:06,040 --> 00:38:09,160 Speaker 1: again close to Biden's hard something he really cares about. 703 00:38:10,120 --> 00:38:12,959 Speaker 1: As won't be allocating new funding for this, but they're 704 00:38:12,960 --> 00:38:15,440 Speaker 1: going to be looking for other ways to really sort 705 00:38:15,480 --> 00:38:19,120 Speaker 1: of invigorate the research around cancer. It is interesting to 706 00:38:19,160 --> 00:38:22,520 Speaker 1: see this issue revived for President Biden after all the 707 00:38:22,600 --> 00:38:24,960 Speaker 1: setbacks he's seen over the last few months, whether you're 708 00:38:24,960 --> 00:38:30,160 Speaker 1: talking about the voting rights legislation or his overall economic agenda. Yeah, 709 00:38:30,239 --> 00:38:32,719 Speaker 1: Biden has not been having a very good i say, 710 00:38:32,840 --> 00:38:36,640 Speaker 1: less year a half year, and the polling numbers reflect that. 711 00:38:36,719 --> 00:38:39,840 Speaker 1: I mean, it's not just his legislation going down. Um, 712 00:38:39,880 --> 00:38:43,120 Speaker 1: it is also things like Afghanistan, things like oh Macron, 713 00:38:43,280 --> 00:38:46,480 Speaker 1: things like really high inflation, and now we're headed towards 714 00:38:46,520 --> 00:38:50,879 Speaker 1: a potentially harmful jobs report come Friday. And so these 715 00:38:50,920 --> 00:38:52,600 Speaker 1: are sort of a way to the way House to 716 00:38:53,080 --> 00:38:56,160 Speaker 1: focus on something that they can do going forwards, or 717 00:38:56,200 --> 00:38:59,880 Speaker 1: of a common issue. Um. In our very politicized Washington, 718 00:39:00,360 --> 00:39:02,440 Speaker 1: at least one thing that that most people can agree 719 00:39:02,440 --> 00:39:05,200 Speaker 1: on how to move forward on it is cancer. And 720 00:39:05,280 --> 00:39:08,160 Speaker 1: another issue that had seen some bipartisan support that I 721 00:39:08,200 --> 00:39:10,080 Speaker 1: know you're keeping an eye on is this U. S. 722 00:39:10,160 --> 00:39:13,920 Speaker 1: China Competition bill. But we are hearing and seeing a 723 00:39:14,000 --> 00:39:18,800 Speaker 1: lot more Republican criticism coming up, particularly in the House 724 00:39:18,920 --> 00:39:22,480 Speaker 1: and this version of the bill. Yes. So remember the 725 00:39:22,520 --> 00:39:25,160 Speaker 1: House and the Senate, they're dealing with different versions of 726 00:39:25,200 --> 00:39:27,279 Speaker 1: the bill. Here. In the Senate version of the bill, 727 00:39:27,640 --> 00:39:30,719 Speaker 1: it was bipartisan, it did get Republicans support, but the 728 00:39:30,760 --> 00:39:33,799 Speaker 1: House has put out their own version and Republicans have 729 00:39:33,880 --> 00:39:37,239 Speaker 1: been pretty uniformly opposed to it. Um. They say that 730 00:39:37,320 --> 00:39:40,719 Speaker 1: this bill it's not tough enough on China, that it 731 00:39:40,760 --> 00:39:43,160 Speaker 1: has a lot of provisions in there that they feel 732 00:39:43,600 --> 00:39:47,319 Speaker 1: are sort of democratic wish list items like climate they 733 00:39:47,360 --> 00:39:51,560 Speaker 1: don't necessarily have to do with the Chinese Communist Party 734 00:39:51,640 --> 00:39:56,600 Speaker 1: and with research, and so that is what I Republicans 735 00:39:56,640 --> 00:40:00,279 Speaker 1: are really not expected to be voting for this legislation. Uh. 736 00:40:00,400 --> 00:40:03,439 Speaker 1: It was debated and approved by a panel last night. 737 00:40:03,560 --> 00:40:07,000 Speaker 1: It's been teed up for four actions this week, and 738 00:40:07,040 --> 00:40:09,960 Speaker 1: at this point it works expecting it to just move 739 00:40:10,000 --> 00:40:13,399 Speaker 1: with only Democratic votes. That said Nathan, then this bill 740 00:40:13,480 --> 00:40:15,719 Speaker 1: does have to go because the House and Senate past 741 00:40:15,800 --> 00:40:18,600 Speaker 1: different versions. They gotta get together. They gotta figure out 742 00:40:18,840 --> 00:40:21,160 Speaker 1: what their final bill is going to look like. And 743 00:40:21,200 --> 00:40:25,000 Speaker 1: that's the one that really would need more Republican support. Technically, 744 00:40:25,040 --> 00:40:27,520 Speaker 1: Republicans in the House aren't aren't needed to pass anything 745 00:40:27,520 --> 00:40:30,480 Speaker 1: if Democrats can just all stick together, but in the 746 00:40:30,520 --> 00:40:33,480 Speaker 1: Senate that's not the case. And Democrats certainly want the 747 00:40:33,560 --> 00:40:36,839 Speaker 1: Republican colleagues in both cheamers to come along with them. 748 00:40:37,040 --> 00:40:39,000 Speaker 1: You only have about thirty seconds left here, I believe, 749 00:40:39,000 --> 00:40:41,680 Speaker 1: but we're getting another reminder just how fragile the Senate 750 00:40:41,680 --> 00:40:45,200 Speaker 1: majority is for Democrats with one of their members suffering 751 00:40:45,239 --> 00:40:49,200 Speaker 1: a stroke. The good news is that Benrie Luhan is 752 00:40:49,239 --> 00:40:52,600 Speaker 1: expected to make a full recovery. But yes, it's if 753 00:40:52,640 --> 00:40:56,239 Speaker 1: you a huge reminder, Nathan that this fifty vote majority, 754 00:40:56,440 --> 00:41:00,480 Speaker 1: it's it's pretty fragile. I mean, we have seen senators, um, 755 00:41:00,520 --> 00:41:04,200 Speaker 1: you know, die in in the past, thank John McCain. Uh, 756 00:41:04,280 --> 00:41:07,319 Speaker 1: we've it's a it's an older group, um, although I 757 00:41:07,360 --> 00:41:09,959 Speaker 1: have to say Benrey Lujan is one of the other ones. 758 00:41:10,120 --> 00:41:13,080 Speaker 1: He is only forty nine years old. Uh. And so 759 00:41:13,120 --> 00:41:16,000 Speaker 1: I think that's sort of a big reminder of the 760 00:41:16,040 --> 00:41:19,719 Speaker 1: majorities that that President Biden is dealing with here, and 761 00:41:19,840 --> 00:41:23,040 Speaker 1: a reminder as uh you were waiting for him to 762 00:41:23,120 --> 00:41:26,600 Speaker 1: make his announcement on Supreme Court nominee. Certainly. Bloomberg Government 763 00:41:26,600 --> 00:41:30,400 Speaker 1: reporter Emily Wilkins with us this morning from Washington. Karen Nathan, 764 00:41:30,440 --> 00:41:32,920 Speaker 1: thank you, say fifty six on Wall Street and this 765 00:41:33,000 --> 00:41:36,080 Speaker 1: is Bloomberg Daybreak. February is Black History Month, and every 766 00:41:36,120 --> 00:41:39,640 Speaker 1: day this month were celebrating significant moments in US black history. 767 00:41:39,880 --> 00:41:42,640 Speaker 1: Now with your installment for February second, here is Bloomberg's 768 00:41:42,760 --> 00:41:45,439 Speaker 1: NYO Young on this day in Black History. In two 769 00:41:45,440 --> 00:41:49,520 Speaker 1: thousand nine, Eric Holder became the first black Attorney General 770 00:41:49,600 --> 00:41:52,640 Speaker 1: of the United States of America. He was confirmed as 771 00:41:52,680 --> 00:41:56,320 Speaker 1: the eighty second Attorney General of the nation. Then President 772 00:41:56,320 --> 00:42:00,239 Speaker 1: Barack Obama nominated Holder months before, and he served more 773 00:42:00,280 --> 00:42:03,759 Speaker 1: than six years as Obama's attorney General. This made him 774 00:42:03,800 --> 00:42:07,960 Speaker 1: the third longest serving attorney general in US history. Today, 775 00:42:08,000 --> 00:42:12,360 Speaker 1: Holder advised its clients like complex investigations and litigation matters 776 00:42:12,600 --> 00:42:16,640 Speaker 1: at international law firm Covington and Burling. That's today in 777 00:42:16,680 --> 00:42:20,560 Speaker 1: Black History. I'm ni to Young Bloomberg Radio. All right, Nita, 778 00:42:20,680 --> 00:42:23,800 Speaker 1: thank you, and again. Futures on the rise this morning, 779 00:42:23,840 --> 00:42:26,239 Speaker 1: led by NASDAG futures which are up two hundred and 780 00:42:26,320 --> 00:42:29,160 Speaker 1: twenty five points or one and a half percent. SMP 781 00:42:29,320 --> 00:42:32,360 Speaker 1: futures are up thirty five and now futures up forty 782 00:42:32,640 --> 00:42:35,440 Speaker 1: five and the tenure Treasury that'll change the yield one 783 00:42:35,480 --> 00:42:39,480 Speaker 1: point seven eight percent. Bloomberg Surveillance says straight Ahead with 784 00:42:39,600 --> 00:42:43,160 Speaker 1: Tom Keene, Jonathan Farrell and Lisa of Ramawatts. For Nathan Hagar, 785 00:42:43,480 --> 00:42:46,440 Speaker 1: I'm Karen Moscow and this is Bloomberg