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Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg

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Speaker 1: day Break for Wednesday, September seven. Coming up this hour,

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Speaker 1: Global stocks slump and the dollar strengthens as financial conditions tighten.

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Speaker 1: UK Prime Minister List Trust starts filling her cabinet and

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Speaker 1: takes her first questions from Parliament. Apple prepares to unveil

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Speaker 1: its latest iPhone, and California braces for potential Blackhouse. Former

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Speaker 1: White House strategy Steve Bennett was surrendered a face criminal

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Speaker 1: churches in New York. The new guidance from the White

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Speaker 1: House on COVID vaccines. I'm John Tucker. Those stories straight ahead,

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Speaker 1: I'm John Stashow. In sports, the Mets lost in Pittsburgh.

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Speaker 1: Co Co Golf and Nick Carrios both lost their quarterfinal

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Speaker 1: matches last night at the US Open. That's all s

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Speaker 1: train ahead on Bloomberg Daybreak on Bloomberg eleven three on

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Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh

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Speaker 1: six one, Boston, Bloomberg nine sixties and Francisco Sirius x

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Speaker 1: M one nine team and around the world down Bloomberg

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Speaker 1: Radio dot Com and via The Bloomberg Business. Good Morning,

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Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. When US futures

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Speaker 1: are higher. This morning, we are coming up to six

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Speaker 1: show one on Wall Street, and we check the markets

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Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg. Right now,

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Speaker 1: SNP futures are up about nine points down futures of

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Speaker 1: forty six and NASDAG futures at forty one. The decks

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Speaker 1: in Germany's down four tenths of upper cent, cat in

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Speaker 1: Paris down a third of upper cent, and the foot

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Speaker 1: Sea one hundred down six tenths of upper cent. Ten

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Speaker 1: your treasury of twelve thirty seconds, you have three point

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Speaker 1: three zero percent they yield on the two year three

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Speaker 1: point four or five percent. Nine max Screwed oil is

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Speaker 1: up half percent or forty one cents at eighty seven

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Speaker 1: dollars twenty nine cents. Of barrel comes gold is up

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Speaker 1: a quarter percent or four dollars thirty cents at seventeen

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Speaker 1: seventeen twenty announced the euro point nine nine eight against

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Speaker 1: the dollar. Nathan no, Karen stocks in. You're a bar

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Speaker 1: falling is the US dollar continues it's strong run. The

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Speaker 1: Bloomberg dollar spot dex hit another record overnight that is

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Speaker 1: leading to tighter financial conditions weighing on risk assets around

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Speaker 1: the world. Janet Movie is head of market analysis at

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Speaker 1: Bruin Dolphin. There is just disinflationary impact from strong U

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Speaker 1: West older there are other disinflationary impacts, for example lower

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Speaker 1: Gesselin prices, So we do think that UH inflation is

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Speaker 1: more likely to peak and slow will rapidly compared to

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Speaker 1: the other ponies. Janet Movie with Bruin Dolphin says she

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Speaker 1: still expects the FED to increase interest rates at this

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Speaker 1: month's meeting. Meantime, Nathan May gets him inside from the Fed,

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Speaker 1: but the release of its Beige Book today that comes

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Speaker 1: at two pm Wall Street time, a day before we

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Speaker 1: hear from FED chair j Powelly speaks at the Cato

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Speaker 1: Institutes Monetary Conference tomorrow to an into Bloomberg Radio and

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Speaker 1: Television for live coverage of US comments around nine a m.

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Speaker 1: Eastern Now turning overseas now Karen. Markets in Europe are

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Speaker 1: feeling the pain of the stronger dollar. It comes at

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Speaker 1: a precarious time for the UK. New Prime Minister Liz

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Speaker 1: Trust is filling her cabinet and working on solutions to

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Speaker 1: address her country's cost of living crisis Bloomberg. Stephen Carroll

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Speaker 1: joins us live from London with the Latest Morning Stephen,

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Speaker 1: Good Morning, Nathan and Karen. Liz Truss holding the first

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Speaker 1: meeting of her new cabinet as we speak, after a

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Speaker 1: sweeping reshuffle that saw her supporters elevated to the top jobs.

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Speaker 1: Quasi quart hang as a new chancellor what Jacob riesmock

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Speaker 1: takes over his business secretary Naturals faces the leader of

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Speaker 1: the opposition Labor Party in Parliament later as we wait

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Speaker 1: details of her package to tackle soaring energy costs. People

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Speaker 1: familiar with the plan telling Bloomberg that it could see

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Speaker 1: the government spending as much as two hundred billion pounds

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Speaker 1: to cap prices, adding ten percent to the UK's national debt.

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Speaker 1: In London, I'm Stephen Carroll, Bloomberg Daybreak, Stephen, Thanks for

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Speaker 1: the strong dollar. Wait on now sets in Asia overnight

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Speaker 1: sh Sheldon lows from they have twenty while Asian currencies

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Speaker 1: weakened sharply and Bloomberg. Juliet Salley joins us from Singapore

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Speaker 1: with the latest. Good Morning, Juliet, Good morning, Nathan and Karen.

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Speaker 1: In Japan, the yen sank one with officials warning they're

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Speaker 1: concerned about rapid one sided moves. China meanwhile said it's

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Speaker 1: you on reference rate with the strongest bias on record,

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Speaker 1: a signal of discomfort with the swooning currency. South Korea's

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Speaker 1: one was the worst performing Asian currency, prompting speculation of intervention.

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Speaker 1: The Kiwi and Singapore dollars fell to two year lows,

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Speaker 1: adding to the downbeat sentiment. The latest China data showing

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Speaker 1: the nation's export growth sloide more than expected in August,

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Speaker 1: adding to signs of a flagging world economy in Singapore.

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Speaker 1: Juliette Sally Bloomberg Daybreak, All right, Juliet thanks sticking with

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Speaker 1: the end for a moment. The currency slumped to a

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Speaker 1: level leaving it on track for its worst year on record,

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Speaker 1: and that is prompting signals from government officials that Japan

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Speaker 1: would need to take action if the rapid one sided

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Speaker 1: the moves continue. Bloomberg FX reporter Ruth Carson says, at

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Speaker 1: this point we could see government intervention. Policymakers haven't changed

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Speaker 1: their language to indicate such a move would happen anytime soon,

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Speaker 1: but look out for phrases like we won't rule out

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Speaker 1: any options to combat excessive movements, or we're ready to

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Speaker 1: take decisive, bold action to counter excessive or speculative moves.

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Speaker 1: Bloomberg's Ruth Carson says, the end could get weaker still

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Speaker 1: from here and checking it right now, it's trading at

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Speaker 1: a hundred forty four point one nine against the dollar. Well,

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Speaker 1: let's move to corporate news now, Nathan, where all eyes

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Speaker 1: are on Apple. The tech giant is holding a launch

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Speaker 1: event today to unveil the new iPhone fourteen. New iPhones

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Speaker 1: traditionally kick off a busy fall products season, which also

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Speaker 1: includes new max iPads and Apple Watch models. He then

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Speaker 1: kicks off at one pm Wall Street Time, and we'll

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Speaker 1: bring you live updates from Cooper Tino throughout the day

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Speaker 1: on Bloomberg Radio and television. And we've got more earnings

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Speaker 1: on the way today, Karen popular Meme Stock game Stop

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Speaker 1: is among companies out with results after the close. Bloomberg's

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Speaker 1: Charlie Pellett has a preview. The analyst surveyed by Bloomberg

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Speaker 1: see the video game retailer reporting on adjusted earnings per

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Speaker 1: share loss of thirty four cents on revenue of one

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Speaker 1: point to seven billion dollars. Analysts at Webb Bush say

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Speaker 1: game Stop may trail consensus expectations, citing ongoing hardware constraints

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Speaker 1: for gaming consoles. Game Stop has been among the most

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Speaker 1: popular retail trader favorites this year, but the stock for

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Speaker 1: all of two is down thirty two percent. In New York, Chile,

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Speaker 1: Pelic Bloom Bird pay break a right, Charlie, thanks well.

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Speaker 1: It's shaping up to be another rough day in California.

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Speaker 1: The state's electric grid will once again be tested after

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Speaker 1: a narrowly avoided blackouts for two consecutive days. Blistering temperatures

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Speaker 1: pushed electricity demand to record levels Lady yesterday. That prompted

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Speaker 1: California to enact its highest level of energy emergency, and

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Speaker 1: much of the state remains under an excessive heat warning.

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Speaker 1: It's like a look at oil now, Karen Crude is

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Speaker 1: trading lower as the dollar surges, and concern over global

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Speaker 1: demand is also weighing on sentiment. W t E s

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Speaker 1: off to a week starts of the month, extending a

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Speaker 1: run of three monthly losses. That's it's worst streak in

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Speaker 1: more than two years. Checking prices now, w t I

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Speaker 1: is up six cents per cent, forty nine cents higher

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Speaker 1: now at eighty seven dollars thirty seven cents of barrel.

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Speaker 1: But we're also watching cryptocurrencies this morning, Nathan. Bitcoin flirting

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Speaker 1: with a test of this year's lows following another sell

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Speaker 1: off that's pushed the sector's overall market valuablelow one trillion dollars.

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Speaker 1: The largest digital token has shed more than six percent

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Speaker 1: so far this week. Is surging real interest rates, cut

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Speaker 1: into risk assets and checking Bitcoin right now, it's down

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Speaker 1: about one pent is at eighteen thousand, seven eight dollars.

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Speaker 1: Future is moving higher this morning, with SNP futures up

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Speaker 1: almost seven point, staff futures of twenty eight, NASDAG futures

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Speaker 1: up thirty Straight ahead, your latest local headlines, plus a

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Speaker 1: check of sports, and this is Bloomberg. Thanks Karen. Six

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Speaker 1: o seven On Wall Street. We're at sixty six degrees

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Speaker 1: in Central Park. Gotta crash eastbound twenty four at brute

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Speaker 1: seventy eight in Springfield. Details coming up in traffic. First

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Speaker 1: John Tucker with what else is going on in New

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Speaker 1: York and around the world. Good morning, John, and former

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Speaker 1: White House strategist Steve Bannon will surrender to face criminal

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Speaker 1: charges in New York. Let's get more on the story.

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Speaker 1: From Bloomberg's Jeff Bellinger. Sources tell Bloomberg that Bannon has

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Speaker 1: been indicted and will be charged by the Manhattan District

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Speaker 1: Attorney's office. Manhattan prosecutors were working early last year with

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Speaker 1: New York Attorney General Letitia James, new York's top law

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Speaker 1: enforcement officer, to gather information for a pro been to

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Speaker 1: weather bannoned defrauded contributors for that We Build the Wall.

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Speaker 1: Bannon was charged with fraud and federal court in twenty

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Speaker 1: over the alleged scheme, leading to a pardon hours before

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Speaker 1: Donald Trump left the White House. But Trump could not

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Speaker 1: shield his former Raid from the state level probe. Jeff Bellinger,

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Speaker 1: Bloomberg day Break, and we're hearing more surrounding the documents

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Speaker 1: discovered of the former president's Florida state. The Washington Post

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Speaker 1: reports and document APPII agencies at Mara Lago describes the

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Speaker 1: foreign government's military defenses and nuclear capabilities. A development in

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Speaker 1: the investigation into the alleged effort by some Trump supporters

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Speaker 1: to overturn the twenty twenty election results. In Georgia, Investigators

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Speaker 1: say video shows a local Republican party leader allegedly allowing

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Speaker 1: two men into the Coffee counties election offices the day

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Speaker 1: after the January six insurrection. It's also the same day

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Speaker 1: authorities say the offices voting machines were breached. The Biden

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Speaker 1: administrations as COVID nineteen vaccines will largely become an annual

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Speaker 1: vaccination akin to the flu shot. Dr Chi's Jazz, the

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Speaker 1: Coronavirus Response Coordinator, we the administration will make sure that

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Speaker 1: vaccines are free, that they're widely available, and they are

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Speaker 1: easy to access for everybody. The administration urging Americans to

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Speaker 1: seek out newly authorized booster shots Taylor to find the

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Speaker 1: omicron subvariants that are now dominant. About half of US

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Speaker 1: workers could be described as quiet quitters. That's according to

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Speaker 1: new research by Gallop. It means they fulfill their job

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Speaker 1: description but are psychologically detached from their work. According to

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Speaker 1: Gallup survey of over fifteen thousand full and part time

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Speaker 1: US workers, not a half of respondence met the definition

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Speaker 1: of quiet quitting. More evidence the pandemic has vented employees, priorities,

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Speaker 1: and companies workplace policies. Global News twenty four hours a

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Speaker 1: day on air and on Bloomberg Quicktake. We're powered by

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Speaker 1: more than seven hundred journalists and analysm more than one

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Speaker 1: twenty countries on John Tucker and this is Bloomberg, so

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Speaker 1: you turned your volume up on that story. Thank you, John.

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Speaker 1: Almost six ten on Wall Street Time for the Bloomberg

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Speaker 1: Sports Update with John stash Our. Thanks they send so

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Speaker 1: much for us to being the easy part of the

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Speaker 1: Mets schedule. Back to back losses to lowly Washington and

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Speaker 1: an eight two lost last night in Pittsburgh. Mets have

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Speaker 1: just their second three game losing Threek of the season.

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Speaker 1: The other came back in June. Taiwan Walker gave a

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Speaker 1: four runs and five innings. The Pirates put it away

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Speaker 1: with four runs in the eighth inning. Brandon Neimo homeward

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Speaker 1: for the Mets, who drop into a first place tie

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Speaker 1: with red hot Atlanta. Mets and Pirates have a doubleheader

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Speaker 1: today making up Monday's rain out, and Yankees and twins

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Speaker 1: of a twin bill in the Bronx to make up

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Speaker 1: last night's rain out. Yanksters put Anthony Rizzo on their

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Speaker 1: extremely crowded injured list. There are fifteen names on it.

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Speaker 1: Rizzo has missed time with the bad back. Now he's

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Speaker 1: suffering from migraine headaches. Now the late night at the

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Speaker 1: US Open. This one ended at one am with Karen

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Speaker 1: catch sean Off winning the fifth set from Nick Curios.

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Speaker 1: Um but old credit to Karen. He just he's a fot,

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Speaker 1: he's in. He's a warrior, you know, he's he's although

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Speaker 1: he saved really good today. Um, honestly, probably the best

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Speaker 1: several play this tournament, to be honest, the way he

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Speaker 1: was hitting his spots under pressure. A lot of new

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Speaker 1: names emerging at this year's Open, catch Shanoff will now

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Speaker 1: play Norway's Casper Route, and unlike these semifinal women's winners,

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Speaker 1: yesterday Ons Jabber, who was from Tunisia, and last night

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Speaker 1: Caroline Garcia took out Coco got w NBA playoff wins

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Speaker 1: for Connecticut headed in with decisive Game five of Chicago

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Speaker 1: and Las Vegas has reached the finals, beating Sea at

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Speaker 1: all the final game the long career of Long Island

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Speaker 1: native Sue Burg. Chicago Bears announced their intention to move

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Speaker 1: to an indoor state, even the suburbs, although not until

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Speaker 1: two thousand and thirty four. John Stash award Bloomberg's voice, Nathan,

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Speaker 1: thank you, john S andp futures right now up four

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Speaker 1: points stout futures up thirteen nan Stack future is higher

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Speaker 1: by twenty five points, but European stocks continue their slide

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Speaker 1: on a stronger dollar. We'll look at this market next

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Speaker 1: with Bloomberg's Danny Burger. This is Bloomberg, Bloomberg eleven three

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Speaker 1: oh weather scattered showers, low seventies today, we'll clear out

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Speaker 1: Tomorrow'll get into the upper seventies by Friday week with

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Speaker 1: sunshine and a high. And you're eighty right now, cloudy

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Speaker 1: sixty six degrees in Central Park. Markets, headlines and breaking

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Speaker 1: news twenty four hours a day at Bloomberg dot com.

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Speaker 1: The Bloomberg Business Outland at Bloomberg Quicktape is a Bloomberg

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Speaker 1: Business Flash, and I'm Karen Moscow. Stocks and commodities are

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Speaker 1: dropping as the prospect of aggressive Federal Reserve monetary tightening

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Speaker 1: lifts a dollar gauge to another record. Meanwhile, the US

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Speaker 1: DON Index futures are a little change now. We checked

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Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberg.

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Speaker 1: Right now, SMP futures or down futures, they're both little changed.

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Speaker 1: Nowsday futures are higher, They're up a body et points

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Speaker 1: sets up almost two tenths of upper set. The decks

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Speaker 1: in Germany's down seven tenths of upper cent. Ten year

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Speaker 1: treasury up eight thirty seconds. You know, three point three

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Speaker 1: one percent they yield on the two year three point

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Speaker 1: four six per set. Nine max Screwed oil is up

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Speaker 1: half percent or forty four cents at eighty seven dollars

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Speaker 1: thirty one center barrel comes gold is up two tens

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Speaker 1: per cent or three dollars thirty cents, and seventeen sixteen

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Speaker 1: ten announced the euro at point nine eight nine eight

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Speaker 1: against the dollar, British found one point one four eight

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Speaker 1: seven and again one forty four point to six. And

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Speaker 1: looking at a bitcoin this morning down one percent at

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Speaker 1: eighteen thousand seven dty dollars. Today we are watching for

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Speaker 1: the trade balance out at eight thirty Wall Street time

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Speaker 1: that at two the Federal Reserve at least as its

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Speaker 1: page book and as a Bloomberg business flash. Now, here's

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Speaker 1: John Tucker with more on what's going on around the world.

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Speaker 1: John and Karen. Former White House strategist Steve Bennon will

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Speaker 1: surrender to face criminal charges in New York tomorrow. California

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Speaker 1: narrowly avoided Blackhouse for a second day. This comes to

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Speaker 1: even as dangerous temperatures push the actricity demand to a

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Speaker 1: record and she Shnpeg will meet his rush and counterpart

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Speaker 1: Vladimir Putin next week. It would mark the Chinese leader's

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Speaker 1: first trip abroad in two and a half years. Sports

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Speaker 1: last night, Matts lose to the Pirates, the Red Sox

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Speaker 1: lost to the Rays, Orioles beat the Blue Jays, and

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Speaker 1: Nasals lost to the Cardinals. The A's Field of the

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Speaker 1: Braves Giants lost to the Dodgers, and the Yankees game

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Speaker 1: against the Twins that was rained out to try to

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Speaker 1: make that up. Today, Global News twenty four hours day

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Speaker 1: on air and Bloomberg Quicktake where powered by more than

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Speaker 1: twenty seven hundred journalists and analysts. It more than one

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Speaker 1: twenty countries. I'm John Tucker. This is Bloomberg, Nathan Okay, John,

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Speaker 1: Thanks six nineteen Now on Wall Street Life in the

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Speaker 1: Bloomberg Interactive Brokers Studios. This is a Bloomberg Daybreak. Let's

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Speaker 1: take a look at this market A closer look with

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Speaker 1: Danny Berger, Bloomberg television anchor and markets correspondent for Bloomberg

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Speaker 1: News or the story this morning. Danny really does seem

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Speaker 1: to be dollar strength, and we're watching it play out,

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Speaker 1: particularly in European stocks. Yeah, I mean dollar strength almost

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Speaker 1: literally against everything. I mean, whether you want to look

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Speaker 1: at the europound, Asian currencies. Asian currencies are doing so

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Speaker 1: bad this morning. Um, And I think sort of the

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Speaker 1: fall and stocks is just a reflection of of that

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Speaker 1: type of environment where we're flowing into the haven of

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Speaker 1: the dollar, where we're looking at a persistently tight said

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Speaker 1: and one that's forcing other countries like the ECB tomorrow

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Speaker 1: to titan as well. Along with this economic deterioration both

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Speaker 1: in Europe which we've been talking about NonStop with the

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Speaker 1: energy crisis and negative data out from China. So you

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Speaker 1: combined a weak economic data with persistent strength from central

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Speaker 1: banks and you get the ugliness and dollar strength that

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Speaker 1: we're seeing today. Yeah. I was just talking with the

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Speaker 1: kid Jukes over at sock Jen last hour. He told

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Speaker 1: me that he doesn't think we're gonna see much erosion

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Speaker 1: to king dollar until there's some kind of resolution to

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Speaker 1: the energy crisis in Europe. So maybe dollar strength this

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Speaker 1: is going to be with us for a while yet. Yeah,

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Speaker 1: the fundamentals really are still there. Um. I mean, look,

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Speaker 1: you could say, Okay, on evaluation level, this looks overstretched,

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Speaker 1: But those sorts of things don't matter in times of crises.

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Speaker 1: It can continue to go. I mean, what would the

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Speaker 1: dollar deteriorate against. I'm looking at agen that's at one.

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Speaker 1: It's unlikely there'll be any verbal intervention there because or

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Speaker 1: there has been verbal intervention that's been irrelevant. Maybe they'll

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Speaker 1: have a unilateral intervention, but that probably won't do much either.

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Speaker 1: They need something of a coordinated effect. So I'm having

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Speaker 1: a hard time seeing you know what could beat out

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Speaker 1: the dollar in this environment right now? Yeah, I'm looking

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Speaker 1: at the offshore you want the Chinese currencyclorting with that

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Speaker 1: psychological seven handle as well. It makes you wonder whether

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Speaker 1: we could see some kind of intervention not just from

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Speaker 1: the People's Bank of China, but from the Bank of Japan. Yeah,

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Speaker 1: certainly so. Bank of Japan. Last intervention, I believe was

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Speaker 1: when we're at this level to four years ago. It

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Speaker 1: was it was coordinated between the US and Japan, and

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Speaker 1: that's probably what we would need to see for any change. Um.

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Speaker 1: The question though, is how much longer can Japan afford

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Speaker 1: to let this go on to some degree? You know,

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Speaker 1: a weaker currency does mean inflation is higher, and Japan

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Speaker 1: is kind of rare in terms of a country that

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Speaker 1: isn't dealing with outside inflation, So perhaps intervention might not

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Speaker 1: come as soon as many people think when they look

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Speaker 1: at the level. But yeah, China, the UN so close

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Speaker 1: to seven um. It's clear that the PBOC is willing

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Speaker 1: to let that weaken as much, but it just doesn't

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Speaker 1: want to lose control, and I think that's clear by

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Speaker 1: the strong fixing we saw in it this morning. Now

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Speaker 1: we've got central bank decisions from the e c V first,

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Speaker 1: of course, we're waiting for the fed's decision later on

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Speaker 1: this month as well. And I guess the question now

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Speaker 1: is whether the tightening of financial conditions that we're starting

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Speaker 1: to see is going to have any impact on whether

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Speaker 1: we continue to see really strong jumbo sized rate high

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Speaker 1: central banks. Yeah, absolutely, because the type of environment it

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Speaker 1: creates by really tight financial conditions or tightening in the

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Speaker 1: US is what we're talking about. It's a weak currency.

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Speaker 1: So you look at someone uh like the ECB for example,

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Speaker 1: they're looking at a weak currency. For them, that means

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Speaker 1: more inflation which they're trying to combat. And so what

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Speaker 1: do you do you hike rates more, and that's what

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Speaker 1: the market is pricing in. We've got uh sixty five

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Speaker 1: basis points is the implied rate at the moment, which

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Speaker 1: means that there's a lot of folks betting on seventy

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Speaker 1: five from the ECB. And you have this toxic mix

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Speaker 1: where yes, this kind of chatter is sending yields higher.

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Speaker 1: Usually that means a stronger currency, but this time it's

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Speaker 1: not so. How much does the e c D need

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Speaker 1: to hike to move rates higher to actually attract investors

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Speaker 1: into Europe to send the euro higher. I mean, I

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Speaker 1: realize a lot of this is sort of like I

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Speaker 1: feel like I'm talking in circles a bit, but but

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Speaker 1: it is. It's just a fed and a dollar that's

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Speaker 1: giving everyone a headache. Only about thirty seconds left here, Danny,

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Speaker 1: But I'm really curious to hear what analysts are telling

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Speaker 1: you about whether we could see the June low tested.

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Speaker 1: I mean, we got this no doubt from Goldman Sachs

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Speaker 1: this morning saying that the bottom might not have been

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Speaker 1: reached at this point. I gotta tell you, I'm just

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Speaker 1: caring a lot of doom and gloom. Everyone's worried, not

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Speaker 1: just about the economy, economy, but earnings as well at

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Speaker 1: the second half of this year. Yeah, all right, thank

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Speaker 1: you for this. Danny really appreciated. Danny Burger, our markets correspondent,

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Speaker 1: Bloomberg television anchor with us this morning as we watch markets,

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Speaker 1: UH continue to react to this strong dollar. Futures UH

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Speaker 1: seeing a little bit attraction this morning to the upside.

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Speaker 1: Right now, SMP futures are up six points, STAU futures

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Speaker 1: up thirty six. Nasdaq futures are highed by thirty one points.

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Speaker 1: But European equities are still moving lower. We got the

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Speaker 1: decks in Germany down about a half percent, Footsie in

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Speaker 1: London down six tenths of one percent. Ten. Your treasury

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Speaker 1: is up seven thirty seconds for a yield of three

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Speaker 1: point three two percent. The yield on the two year

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Speaker 1: three point four six percent. Starting to see crude, UH

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Speaker 1: get a bid with Nimex crude right now up six

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Speaker 1: tents for cent to eighty seven dollars forty three cents

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Speaker 1: of barrel. This is Bloomberg Bloomberg eleven three oh Weather.

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Speaker 1: Scattered showers today with highs in the low seventies, clearing

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Speaker 1: tomorrow upper seventies for Thursday highs. By Friday, we could

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Speaker 1: hit eighty under sunshine. Right now, it's cloudy in sixty

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Speaker 1: six in Central Park. Broadcasting live from the Bloomberg Interactive

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Speaker 1: Broker Studio in New York, Bloomberg in voom Free to Washington,

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Speaker 1: d C. Bloomberg on to Boston, Bloomberg one oh six one,

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Speaker 1: does San Francisco, Bloomberg N sixteen to the country Sirius

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Speaker 1: xm ch A one nineteen, and around the globe the

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Speaker 1: Bloomberg Business app and Bloomberg Radio dot com. This is

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Speaker 1: Bloomberg Daybreak six thirty on Wall Street. Good morning, I'm

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Speaker 1: Nathan Hagar and I'm Karen Moscow. We are just about

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Speaker 1: three hours away from the open of us eating time

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Speaker 1: for the five things so you need to know to

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Speaker 1: start your day. Brought to you by Interactive Brokers. Interactive

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Speaker 1: Brokers charges marchin loan rates from two point three percent

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Speaker 1: Learn more at ibk R dot com. Slash compare for

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Speaker 1: stungs in Europe are falling as the US dollar continues

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Speaker 1: it's strong run. The Bloomberg Dollars Spot index hit another

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Speaker 1: record overnight, and that's leading to tighter financial conditions that

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Speaker 1: are weighing on risk assets around the world. Janet Moue

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Speaker 1: has had a market analysis at Brewin Dolphin. There are

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Speaker 1: increasing signs that countries are worried about the dollar strength.

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Speaker 1: I think government officials they will have to come together

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Speaker 1: to discuss what they may do about it, but maybe

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Speaker 1: they don't actually have a load of solutions. Janet Movie

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Speaker 1: with Bruin Dolphins said the strong dollar could have a

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Speaker 1: disinflationary effect on the US economy, but she still expects

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Speaker 1: the Fed to raise interest rates in September's meeting, and

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Speaker 1: we get more insight from the Fed today, Karen, with

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Speaker 1: the release of the Beige Book. At two pm Wall

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Speaker 1: Street time. Tomorrow, we hear from the chairman J. Powell,

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Speaker 1: he speaks at the Cato Institute's Monetary Conference. Tune into

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Speaker 1: Bloomberg Radio and television for live coverage of that tomorrow

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Speaker 1: around nine am Eastern. Well Nathan, the strong dollar wait

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Speaker 1: on assets in Asia Overnight stocks held that lows from

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Speaker 1: May of twenty Well, Asian currencies weekend Sharply, we're taking

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Speaker 1: a close look at the yen, in particular, it's on

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Speaker 1: track for the worst year on record. That's prompting signals

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Speaker 1: from government officials that Japan would need to take action

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Speaker 1: if the rapid one sided move continue. Ruth Carson is

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Speaker 1: an f extu reporter with Bloomberg News. At this stage,

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Speaker 1: with the Bank of Japan clinging to his ultratavish monetary

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Speaker 1: policy stands and FED hiking aggressively to five inflation, that's

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Speaker 1: little stopping it from hitting levels last seen in the

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Speaker 1: early Bloomberg You. Carson says, potential government intervention is on

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Speaker 1: trader's minds at the moment. And checking the yen right

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Speaker 1: now it is at one four point four nine against

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Speaker 1: the dollar. And turning into corporate news, Karen, all eyes

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Speaker 1: are on Apple, the tech giant holds an event today

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Speaker 1: to unveil the new iPhone fourteen. New iPhones traditionally kickoff

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Speaker 1: a busy fall product season. The event kicks off one pm.

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Speaker 1: Wall Street Time will bring you live updates from Cooper

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Speaker 1: Tino throughout the day on Bloomberg Radio and Television. And

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00:23:11,880 --> 00:23:13,760
Speaker 1: taking a look at oil now. Nathan concerns of our

430
00:23:13,800 --> 00:23:16,280
Speaker 1: global demand as weight on sentiment, with crude off to

431
00:23:16,320 --> 00:23:19,000
Speaker 1: a week start in September, and checking prices right now,

432
00:23:19,080 --> 00:23:21,440
Speaker 1: and I'm ex screwed. Oil is ups extensive percent of

433
00:23:21,520 --> 00:23:24,320
Speaker 1: fifty two cents at eighty seven dollars forty cents of

434
00:23:24,359 --> 00:23:27,200
Speaker 1: barrel Brent is at ninety three dollars forty four cents.

435
00:23:27,520 --> 00:23:29,560
Speaker 1: That's the five things that you need to notice start

436
00:23:29,600 --> 00:23:33,200
Speaker 1: your day. Brought to you by Interactive Brokers. And this

437
00:23:33,560 --> 00:23:40,040
Speaker 1: is Bloomberg, all right, Karen, thank you. Sixty three on

438
00:23:40,040 --> 00:23:42,960
Speaker 1: Wall Street, sixty six degrees in Central Park. We got

439
00:23:42,960 --> 00:23:46,760
Speaker 1: two crashes on the eastbound Gwanas Expressway. Janelle Crispin will

440
00:23:46,800 --> 00:23:49,320
Speaker 1: fill you in shortly. First John Tucker with what else

441
00:23:49,400 --> 00:23:51,160
Speaker 1: is going on in New York and around the world.

442
00:23:51,200 --> 00:23:54,280
Speaker 1: Good morning, John Nathan. Former White House strategist Steve Vannon,

443
00:23:54,359 --> 00:23:56,600
Speaker 1: who was pardoned by Donald Trump on his last day

444
00:23:56,600 --> 00:23:59,320
Speaker 1: as president, is going to surrender tomorrow to face state

445
00:23:59,359 --> 00:24:03,199
Speaker 1: criminal oranges. In New York Manhattan prosecutors have been probrabing

446
00:24:03,200 --> 00:24:06,639
Speaker 1: whether Bannon defrauded contributors for We Build the Wall, that

447
00:24:06,760 --> 00:24:10,680
Speaker 1: was the private center effort to support Trump's steen campaign

448
00:24:10,800 --> 00:24:14,359
Speaker 1: promise to construct a wall along the US Mexico border.

449
00:24:14,800 --> 00:24:19,080
Speaker 1: The president former president's pardon doesn't shield Bannon from state charges.

450
00:24:19,680 --> 00:24:22,560
Speaker 1: A threat by a major airline to sus suspend service

451
00:24:22,800 --> 00:24:26,520
Speaker 1: at JFK more in this report from Bloomberg's Lisa Mateo,

452
00:24:26,920 --> 00:24:30,200
Speaker 1: United Airlines is threatening to the spend service at Kennedy

453
00:24:30,359 --> 00:24:34,000
Speaker 1: unless federal regulators review runway use and allow the carrier

454
00:24:34,040 --> 00:24:37,840
Speaker 1: to increase daily operations. United told employees and a memo

455
00:24:37,960 --> 00:24:41,480
Speaker 1: about its plan, saying the airport's total flight capacity hasn't

456
00:24:41,560 --> 00:24:44,000
Speaker 1: changed since two thousand and eight, despite a widening of

457
00:24:44,119 --> 00:24:47,840
Speaker 1: runways and other infrastructure improvements. The airline, which has two

458
00:24:47,920 --> 00:24:51,359
Speaker 1: daily flights between Los Angeles and JFK and to shuttling

459
00:24:51,359 --> 00:24:53,800
Speaker 1: back and forth to San Francisco, that it would suspend

460
00:24:53,840 --> 00:24:58,000
Speaker 1: operations at the end of October without more slots. Lisa Mateo,

461
00:24:58,119 --> 00:25:03,560
Speaker 1: Bloomberg Daybreak. California narrowly avoided blackouts for a second successive day,

462
00:25:03,600 --> 00:25:07,320
Speaker 1: even as blistering temperatures pushed electricity demand to a record

463
00:25:07,720 --> 00:25:10,760
Speaker 1: and stretched the state's power grid close to its limits.

464
00:25:11,000 --> 00:25:14,600
Speaker 1: Here's California Governor Gavin Newsom. California and many other Western

465
00:25:14,680 --> 00:25:18,440
Speaker 1: states are experiencing simply unprecedented temperatures. In fact, this heat

466
00:25:18,480 --> 00:25:21,239
Speaker 1: wave is on track to be both the hottest and

467
00:25:21,320 --> 00:25:24,480
Speaker 1: the longest on record for the state. In many parts

468
00:25:24,480 --> 00:25:26,960
Speaker 1: of the West for the month of September A much

469
00:25:27,000 --> 00:25:30,919
Speaker 1: of California remains under an extensive heat warning through Friday,

470
00:25:31,000 --> 00:25:34,000
Speaker 1: with the thirties already preparing for more severe pressure on

471
00:25:34,080 --> 00:25:37,840
Speaker 1: the power system. Today, bosses are expecting workers to finally

472
00:25:37,880 --> 00:25:41,399
Speaker 1: start showing up more routinely at Manhattan offices than have

473
00:25:41,520 --> 00:25:45,159
Speaker 1: been sparsely populated for more than two years. Big banks,

474
00:25:45,160 --> 00:25:48,439
Speaker 1: including Goldman, Sachs and Morgan Stanley have now removed the

475
00:25:48,440 --> 00:25:51,720
Speaker 1: final hurdles for full time in person work and once

476
00:25:51,760 --> 00:25:54,720
Speaker 1: again a reminding employees that they're wanted back in the office.

477
00:25:55,000 --> 00:25:57,160
Speaker 1: The work from home culture has put New York's office

478
00:25:57,240 --> 00:26:00,399
Speaker 1: landlords in a bind. Just thirty five point three percent

479
00:26:00,440 --> 00:26:02,639
Speaker 1: of workers in the Mets are area we're back at

480
00:26:02,640 --> 00:26:06,520
Speaker 1: their desk the week ended August four, according to card

481
00:26:06,600 --> 00:26:10,080
Speaker 1: swipe data from Castle Systems. Global News twenty four hours

482
00:26:10,160 --> 00:26:12,840
Speaker 1: day on their hand a Bloomberg quicktake. We're powered by

483
00:26:12,840 --> 00:26:15,240
Speaker 1: more than twenty seven hundred journalists and analysts and more

484
00:26:15,240 --> 00:26:19,040
Speaker 1: than one hundred twenty countries I'm John Tucker. This is Bloomberg, Nathan.

485
00:26:19,119 --> 00:26:26,520
Speaker 1: Thank you John six thirty six on Wall Street. John

486
00:26:26,560 --> 00:26:29,119
Speaker 1: Stash has the Bloomberg Sports Updak all right, Anthon. The

487
00:26:29,119 --> 00:26:31,440
Speaker 1: Mets have been a first place team pretty much all season,

488
00:26:31,480 --> 00:26:33,840
Speaker 1: but maybe not by the end of tonight. The Atlanta

489
00:26:33,920 --> 00:26:36,880
Speaker 1: Braves one again, ten to nine in Oakland. They've won

490
00:26:36,960 --> 00:26:39,640
Speaker 1: twenty six of their last thirty one and they are

491
00:26:39,680 --> 00:26:42,439
Speaker 1: eighty five and fifty one, and that's the same record

492
00:26:42,480 --> 00:26:45,160
Speaker 1: as the Mets who lost in Pittsburgh Gate two. Taiwan

493
00:26:45,240 --> 00:26:47,640
Speaker 1: Walker gave up the first four runs, the bullpen four more,

494
00:26:47,680 --> 00:26:50,160
Speaker 1: and the Mets have just their second three game losing

495
00:26:50,200 --> 00:26:51,880
Speaker 1: the speak of the season. They've got a double header

496
00:26:51,920 --> 00:26:54,560
Speaker 1: in Pittsburgh today and the Yankees and Twins played two

497
00:26:54,560 --> 00:26:56,480
Speaker 1: of the Brons to make up last night's rain out.

498
00:26:56,560 --> 00:26:59,919
Speaker 1: Yankster banged up fifteen players on the injured list. Anthony

499
00:27:00,040 --> 00:27:03,439
Speaker 1: Rizzo just went on with migraine headaches. DJ Lemayer has

500
00:27:03,480 --> 00:27:06,359
Speaker 1: got a bad toe. Janklos Stanton just returned to the

501
00:27:06,359 --> 00:27:08,240
Speaker 1: lineup and they had to leave Monday's game that injured

502
00:27:08,280 --> 00:27:11,679
Speaker 1: foot x rays word nugget. Tampa Bay beat the Red Sox.

503
00:27:11,720 --> 00:27:13,800
Speaker 1: The Red Hot Rays, only four and a half games

504
00:27:13,840 --> 00:27:16,320
Speaker 1: behind the Yanks. The crowd at the US Open last

505
00:27:16,400 --> 00:27:19,320
Speaker 1: night came out to see the American teenager Coco Golf

506
00:27:19,400 --> 00:27:22,760
Speaker 1: and then the entertaining Aunsee Nick Currios. They both lost

507
00:27:22,800 --> 00:27:26,359
Speaker 1: their quarterfinal matches. Goffel the Caroline Garcia's straight sets, and

508
00:27:26,440 --> 00:27:29,439
Speaker 1: Curios in a match that ended at one am, lost

509
00:27:29,440 --> 00:27:31,879
Speaker 1: a five center to Russia's Rushia's Karen to catch on

510
00:27:31,960 --> 00:27:34,720
Speaker 1: off Giants getting ready for Sunday season opener at Tennessee.

511
00:27:35,280 --> 00:27:38,120
Speaker 1: The concerned for new Giants coach Brian day Ball Titans

512
00:27:38,160 --> 00:27:40,680
Speaker 1: running back Derrick Henry. What he's done so far. He's

513
00:27:41,680 --> 00:27:43,639
Speaker 1: he's just a really good football player. I know him

514
00:27:43,680 --> 00:27:46,400
Speaker 1: as a person to U have mettle down a few

515
00:27:46,440 --> 00:27:48,480
Speaker 1: times in the Alabama. Got a ton of respect for him,

516
00:27:48,480 --> 00:27:51,560
Speaker 1: and as a man, and and and surely as a player.

517
00:27:51,600 --> 00:27:55,439
Speaker 1: He's uh, he's one heck of a player. You name it,

518
00:27:55,480 --> 00:27:57,439
Speaker 1: he can do it. If the Giants get upset the Titans,

519
00:27:57,440 --> 00:27:59,320
Speaker 1: they'll have an over five hundred record for first times

520
00:27:59,359 --> 00:28:01,880
Speaker 1: to the two thousand sixteen. Jets open Sunday with Baltimore.

521
00:28:01,960 --> 00:28:06,359
Speaker 1: The season kicks off tomorrow. John starrwar Boomberg Sports, Stephen Okay, John,

522
00:28:06,400 --> 00:28:08,600
Speaker 1: thank you, six thirty seven on Wall Street Time Now

523
00:28:08,640 --> 00:28:10,200
Speaker 1: to take a look at stocks, some of the names

524
00:28:10,240 --> 00:28:12,520
Speaker 1: moving in the pre market. We've got Bloomberg Radio and

525
00:28:12,600 --> 00:28:15,840
Speaker 1: TV markets correspondent Pretty Gupta with us on a morning

526
00:28:15,920 --> 00:28:20,000
Speaker 1: where dollar strength pervades the market. I mean, it's not

527
00:28:20,119 --> 00:28:22,400
Speaker 1: just been this morning, has it, Cretty, It's been an

528
00:28:22,400 --> 00:28:24,720
Speaker 1: issue for a while here, the strength of the US dollar.

529
00:28:25,040 --> 00:28:26,840
Speaker 1: It really has and this is going to hit you know,

530
00:28:26,920 --> 00:28:30,840
Speaker 1: everything from from tap to multinational companies like PepsiCo for example.

531
00:28:31,240 --> 00:28:32,480
Speaker 1: And that's kind of where I want to go with

532
00:28:32,520 --> 00:28:34,199
Speaker 1: the sector check because I've been a really kind of

533
00:28:34,200 --> 00:28:37,760
Speaker 1: piggyback on the point that Morgan Stanley's Mike Wilson made

534
00:28:37,840 --> 00:28:40,400
Speaker 1: this idea that a lot of the macro was driving

535
00:28:40,440 --> 00:28:43,240
Speaker 1: the trade right now as opposed to perhaps the individual fundamentals,

536
00:28:43,280 --> 00:28:46,040
Speaker 1: and even on a such a micro basis like stock movers,

537
00:28:46,240 --> 00:28:48,280
Speaker 1: you're seeing that as well. The idea that the dollar

538
00:28:48,400 --> 00:28:50,920
Speaker 1: is really the story as it hits once again a

539
00:28:50,920 --> 00:28:53,080
Speaker 1: new record high, really driven by the weakness that you're

540
00:28:53,080 --> 00:28:55,360
Speaker 1: seeing in Europe and arguably the weakness you're seeing in

541
00:28:55,400 --> 00:28:56,960
Speaker 1: Asia as well. So let's take a look at some

542
00:28:57,000 --> 00:28:59,520
Speaker 1: of these stocks here, because what's interesting is that the

543
00:28:59,560 --> 00:29:02,520
Speaker 1: first companies that it should hit, that kind of move

544
00:29:02,560 --> 00:29:05,120
Speaker 1: should hit are your big tech companies. Yet those are

545
00:29:05,120 --> 00:29:06,960
Speaker 1: the ones that are actually catching a bid this morning.

546
00:29:07,000 --> 00:29:09,240
Speaker 1: Take a look at Netflix, for example, n f l

547
00:29:09,480 --> 00:29:12,280
Speaker 1: X is your taker up about seven tenths of one percent,

548
00:29:12,320 --> 00:29:15,640
Speaker 1: despite the fact that the broader market is actually declining.

549
00:29:16,040 --> 00:29:18,160
Speaker 1: If you have the likes of Apple, for example, A

550
00:29:18,160 --> 00:29:20,400
Speaker 1: A p L is your taker up three tents of

551
00:29:20,440 --> 00:29:22,480
Speaker 1: one percent. And the reason for this is this idea

552
00:29:22,520 --> 00:29:24,440
Speaker 1: that simply you are starting to see fund flows come

553
00:29:24,480 --> 00:29:27,960
Speaker 1: back into the state because perhaps that dollar strength isn't

554
00:29:28,000 --> 00:29:30,280
Speaker 1: actually weighing on their bottom line the way that h

555
00:29:30,360 --> 00:29:32,520
Speaker 1: IT did a couple of months ago, and simply that

556
00:29:33,160 --> 00:29:35,440
Speaker 1: perhaps it's already priced it. So that's gonna be something

557
00:29:35,480 --> 00:29:38,080
Speaker 1: that you want to watch going into the opening bells, Nathan,

558
00:29:38,120 --> 00:29:40,200
Speaker 1: the trend has been in the opening bells in the

559
00:29:40,280 --> 00:29:42,880
Speaker 1: first thirty minutes. American traders tend to fade any move

560
00:29:42,920 --> 00:29:45,320
Speaker 1: that you're seeing U in futures right now, so really

561
00:29:45,400 --> 00:29:47,000
Speaker 1: keep an eye on that, and tech tends to lead

562
00:29:47,040 --> 00:29:49,600
Speaker 1: that charge. I also want to throw some airline news

563
00:29:49,640 --> 00:29:52,560
Speaker 1: at you Nathan, United, You A L is your taker

564
00:29:52,760 --> 00:29:56,280
Speaker 1: that actually came out with a letter to JFK Airport

565
00:29:56,360 --> 00:29:58,440
Speaker 1: yesterday and said, you know what, we are actually going

566
00:29:58,480 --> 00:30:00,800
Speaker 1: to pull out of JFK if you don't give us

567
00:30:00,800 --> 00:30:03,560
Speaker 1: more operating capacity, if you don't let us fly more

568
00:30:03,640 --> 00:30:06,200
Speaker 1: planes out. Remember, this really comes down to supply chain

569
00:30:06,240 --> 00:30:08,400
Speaker 1: issues that you're seeing for a lot of the airlines

570
00:30:08,480 --> 00:30:11,680
Speaker 1: traffic controllers. Means that airports can't actually have that many

571
00:30:11,680 --> 00:30:14,600
Speaker 1: flights go out simply because the labor issues that are

572
00:30:14,640 --> 00:30:16,800
Speaker 1: that people are dealing with here in the States. United

573
00:30:16,800 --> 00:30:18,320
Speaker 1: saying well, you know what, figure it out or we're

574
00:30:18,360 --> 00:30:21,480
Speaker 1: bouncing U. A L is your ticker up about three

575
00:30:21,480 --> 00:30:23,160
Speaker 1: times of a percent in this morning. I should say

576
00:30:23,160 --> 00:30:26,000
Speaker 1: the shares are fading even though it's just barely traded,

577
00:30:26,040 --> 00:30:28,080
Speaker 1: So that is going to be a stock you certainly

578
00:30:28,120 --> 00:30:30,080
Speaker 1: want to keep an eye on. Yeah, interesting to see

579
00:30:30,120 --> 00:30:33,640
Speaker 1: another news headline acrossing on that stock, in particular with

580
00:30:33,760 --> 00:30:37,280
Speaker 1: United Airlines boosting its estimate for third quarter revenue growth

581
00:30:37,320 --> 00:30:39,760
Speaker 1: just quickly createy, it looks like we could still be

582
00:30:39,920 --> 00:30:42,320
Speaker 1: seeing some of this pent up travel demand. You know,

583
00:30:42,400 --> 00:30:45,080
Speaker 1: it's interesting that we say that because, on the one hand,

584
00:30:45,080 --> 00:30:46,880
Speaker 1: there is that pent up travel demand, but the question

585
00:30:46,920 --> 00:30:49,080
Speaker 1: is can you actually meet it, can you mobilize it

586
00:30:49,360 --> 00:30:51,360
Speaker 1: and actually make money off in right now? The jury

587
00:30:51,400 --> 00:30:53,680
Speaker 1: is still out, certainly, as thanks for this, Creaty, as

588
00:30:53,680 --> 00:30:56,760
Speaker 1: always Mom Gradi on TV. Markets correspondent Createy Gupeda with

589
00:30:56,880 --> 00:30:59,800
Speaker 1: us this morning as we take a look at future,

590
00:31:00,240 --> 00:31:02,920
Speaker 1: they're moving just a bit higher than we are still

591
00:31:03,000 --> 00:31:05,840
Speaker 1: seeing European stocks move lower this morning. Right now, SMP

592
00:31:06,000 --> 00:31:09,520
Speaker 1: futures up six points, staff futures up thirty five, NASTAC

593
00:31:09,600 --> 00:31:12,680
Speaker 1: futures are higher by twenty six points ten. Your treasury

594
00:31:12,760 --> 00:31:17,080
Speaker 1: yield right now three point three two on that stronger dollar.

595
00:31:17,560 --> 00:31:23,360
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather

596
00:31:23,480 --> 00:31:27,200
Speaker 1: scattered showers, low seventies today, clearing tomorrow. Upper seventies, will

597
00:31:27,240 --> 00:31:30,840
Speaker 1: get up to near eighty in the sunshine on Friday.

598
00:31:31,000 --> 00:31:37,720
Speaker 1: Right now, clouds sixty six degrees in central Park. Markets

599
00:31:37,800 --> 00:31:40,880
Speaker 1: headlines and breaking news twenty four hours a day at

600
00:31:40,880 --> 00:31:44,320
Speaker 1: Bloomberg dot Com, the Bloomberg Business A and at Bloomberg

601
00:31:44,360 --> 00:31:53,680
Speaker 1: Quick Tape. He's a Bloomberg Business Flash and I'm camera

602
00:31:53,680 --> 00:31:56,920
Speaker 1: in Moscow, US. Not Index futures on the rise this morning.

603
00:31:56,920 --> 00:31:59,160
Speaker 1: We had the first word breaking news desk for today's

604
00:31:59,160 --> 00:32:02,520
Speaker 1: morning call, and is Bell Maloney, Bell, good morning, and

605
00:32:02,640 --> 00:32:05,160
Speaker 1: good morning, Karen. Modest games in the U S futures

606
00:32:05,240 --> 00:32:08,200
Speaker 1: right now with features up seventeen points, Sesames game three one,

607
00:32:08,280 --> 00:32:12,000
Speaker 1: NASA futures are up by nineteen. The US ten year

608
00:32:12,000 --> 00:32:14,240
Speaker 1: old at three point three two percent, Gold is a

609
00:32:14,280 --> 00:32:16,680
Speaker 1: little changed, Oil is in the green, and a bitcoin

610
00:32:16,800 --> 00:32:19,720
Speaker 1: is trading lower by one percent. Shanghai was a little

611
00:32:19,800 --> 00:32:22,800
Speaker 1: changed overnight, while up and markets are posting modest losses

612
00:32:22,800 --> 00:32:25,120
Speaker 1: this morning and back in the US on the economic

613
00:32:25,160 --> 00:32:27,720
Speaker 1: Frinday thirty Trade balance, and at two o'clock, the FED

614
00:32:27,760 --> 00:32:30,960
Speaker 1: releases it's beige book. Indian news e q T to

615
00:32:31,040 --> 00:32:34,520
Speaker 1: buy Marcellus gas and pipeline assets for five billion, and

616
00:32:34,520 --> 00:32:37,160
Speaker 1: another news Goldman Sacks warns that stocks have yet to

617
00:32:37,240 --> 00:32:40,720
Speaker 1: make it decisive low. Wrapping things up, Pinterest was raised

618
00:32:40,760 --> 00:32:44,280
Speaker 1: to outperform over at Wolf Live from the first breaking

619
00:32:44,280 --> 00:32:46,680
Speaker 1: news Tascam, Bill Maloney, Karen, all right, Bill, thank you

620
00:32:46,720 --> 00:32:49,320
Speaker 1: to hear live breaking news of your Bloomberg type squawk

621
00:32:49,360 --> 00:32:51,400
Speaker 1: on your terminal. I'll ascue you a w u K

622
00:32:51,520 --> 00:32:53,920
Speaker 1: and that's a Bloomberg Business Flash. Now here's John Tucker

623
00:32:53,960 --> 00:32:56,840
Speaker 1: with more on what's going on around the world. John Karen,

624
00:32:56,880 --> 00:32:59,560
Speaker 1: Steve Banna, and the one time Trump advisor. He expended

625
00:32:59,600 --> 00:33:02,600
Speaker 1: to sir nder tomorrow to New York authorities that face

626
00:33:02,680 --> 00:33:07,120
Speaker 1: state criminal charges. California avoided black acounts for a second

627
00:33:07,200 --> 00:33:11,600
Speaker 1: successive day, even as blistering temperatures pushed electricity demand to

628
00:33:11,680 --> 00:33:15,160
Speaker 1: a record. The Chinese leaders Shuxin peing planning his first

629
00:33:15,160 --> 00:33:18,480
Speaker 1: trip abroad in two and a half years. According to Tas,

630
00:33:18,480 --> 00:33:21,280
Speaker 1: He's gonna meet with his Russian counterpart, Vladimir Putin in

631
00:33:21,360 --> 00:33:25,440
Speaker 1: Azbekistan next week. Sports last night, the Mets lost to

632
00:33:25,480 --> 00:33:27,760
Speaker 1: the Pirates, the rent Socks lost to the Raised, The

633
00:33:27,840 --> 00:33:31,360
Speaker 1: Orioles beat the Blue Jays, the Nationals lost to the Cardinals,

634
00:33:31,400 --> 00:33:34,280
Speaker 1: and the As filled to the Braves. The Giants lost

635
00:33:34,320 --> 00:33:37,000
Speaker 1: to the Dodgers, and the Yankees game against the Twins

636
00:33:37,280 --> 00:33:40,000
Speaker 1: that was rained out their schedule to make that up. Today.

637
00:33:40,280 --> 00:33:42,480
Speaker 1: Global News twenty four hours a day on airin on

638
00:33:42,520 --> 00:33:46,760
Speaker 1: Bloomberg Quicktake. We're powered by more than hundred journalists and

639
00:33:46,760 --> 00:33:50,360
Speaker 1: analysts in more than one hundred twenty countries. I'm John Tucker,

640
00:33:50,680 --> 00:33:53,239
Speaker 1: and this is Bloomberg. Karen, all right, John, thank you

641
00:33:53,280 --> 00:33:55,160
Speaker 1: at It sakes forty nine on Wall Street, and we

642
00:33:55,200 --> 00:33:57,520
Speaker 1: turned to news and science and technology now at the

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00:33:57,600 --> 00:34:00,760
Speaker 1: Bloomberg and j I. T. Stammer Report. It has brought

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00:34:00,800 --> 00:34:04,080
Speaker 1: to you by New Jersey Institute of Technology tech LIMB

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00:34:04,120 --> 00:34:06,520
Speaker 1: and j I. T. S. Ninth President has committed to

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00:34:06,600 --> 00:34:09,560
Speaker 1: strengthening and growing and j I T. S industry partnerships

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00:34:09,560 --> 00:34:12,840
Speaker 1: to improve student opportunities and outcomes. Learn more at n

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00:34:12,920 --> 00:34:15,759
Speaker 1: j I T dot e DU And here's just making

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00:34:15,800 --> 00:34:19,960
Speaker 1: news and Science, Technology, Engineering and math. The monkeypox vaccine

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00:34:20,040 --> 00:34:23,040
Speaker 1: used to curb the virus may be less potent than hoped.

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00:34:23,480 --> 00:34:27,160
Speaker 1: Researchers in the Netherlands found the recommended series of shots

652
00:34:27,239 --> 00:34:31,360
Speaker 1: yielded relatively low levels of monkeypox antibodies with poor capacity

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00:34:31,400 --> 00:34:35,000
Speaker 1: to neutralize the virus. Monkeypox has invected infected more than

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00:34:35,040 --> 00:34:37,480
Speaker 1: fifty people since a flare up of the diseases are

655
00:34:37,480 --> 00:34:40,960
Speaker 1: reported in the UK in early May. Apple plans to

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00:34:41,000 --> 00:34:43,279
Speaker 1: appeal a move by Brazil to ban the sale of

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00:34:43,280 --> 00:34:46,879
Speaker 1: iPhones without battery chargers, arguing arguing that the company has

658
00:34:46,920 --> 00:34:51,080
Speaker 1: helped reduce environmental waste by not including accessory with new devices.

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00:34:51,440 --> 00:34:54,640
Speaker 1: Apple announced that it was stopped putting chargers a new

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00:34:54,640 --> 00:34:59,440
Speaker 1: iPhone boxes, drawing outcry from some consumers, and Samsung is

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00:34:59,480 --> 00:35:01,799
Speaker 1: warning that the semi connector industry could be in for

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00:35:01,920 --> 00:35:05,640
Speaker 1: a rocky close to two. A senior executive at the

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00:35:05,640 --> 00:35:07,680
Speaker 1: company said the outlook for the second half of the

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00:35:07,760 --> 00:35:11,160
Speaker 1: year is gloomy and Samsung is not yet seeing momentum

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00:35:11,200 --> 00:35:14,720
Speaker 1: for recovery next year. Rival chipmakers have warned up slowing

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00:35:14,719 --> 00:35:17,520
Speaker 1: demand to end the year. That's the Bloomberg and j

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00:35:17,680 --> 00:35:20,879
Speaker 1: I t Stem report. Nathan, Thanks Karen. We're live from

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00:35:20,880 --> 00:35:23,839
Speaker 1: the Bloomberg Interactive Broker Studios where it's six fifty on

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00:35:23,920 --> 00:35:25,719
Speaker 1: Wall Street. Time now to check what's going on in

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00:35:25,800 --> 00:35:28,000
Speaker 1: d C. Some of the top stories in our nation's

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00:35:28,040 --> 00:35:31,239
Speaker 1: capital include former Trump adviser Steve Bennon said to surrender

672
00:35:31,280 --> 00:35:34,799
Speaker 1: tomorrow on new criminal charges in New York. Material on

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00:35:34,920 --> 00:35:39,320
Speaker 1: foreign nation's nuclear capabilities reportedly seized from the former president's

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00:35:39,320 --> 00:35:43,160
Speaker 1: home in marl Lago, President Biden talking breggsit with the

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00:35:43,200 --> 00:35:47,239
Speaker 1: new Prime Minister of the UK, and Republicans trying to

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00:35:47,320 --> 00:35:51,279
Speaker 1: jump start probes into Biden's COVID response. Let's get more

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00:35:51,320 --> 00:35:54,280
Speaker 1: now on some of these stories. Bloomberg. Government reporter Emily

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00:35:54,320 --> 00:35:57,239
Speaker 1: Wilkins joins us from the Nation's capital. So what's this

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00:35:57,320 --> 00:36:02,000
Speaker 1: We're hearing about these new charges against Steve and Emily Yeah,

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00:36:02,120 --> 00:36:04,960
Speaker 1: so safe Bannon. The charges aren't knew, They've been going

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00:36:05,000 --> 00:36:07,560
Speaker 1: on for a while. This is all about at this

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00:36:07,640 --> 00:36:11,840
Speaker 1: private sector effort to support Trump's twenty sixteen campaign promised

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00:36:11,840 --> 00:36:14,920
Speaker 1: to build a wall along the US Mexico border. Uh,

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00:36:14,960 --> 00:36:17,560
Speaker 1: there was this campaign that Bannon was involved in called

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00:36:17,600 --> 00:36:21,320
Speaker 1: we Build the Wall, and there are concerns that Bannon

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00:36:21,920 --> 00:36:26,279
Speaker 1: defrauded people who donated to the scheme. Uh that you know,

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00:36:26,320 --> 00:36:29,319
Speaker 1: this didn't actually go to where the funding said it

688
00:36:29,400 --> 00:36:32,280
Speaker 1: was going to be going. There was actually a federal

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00:36:32,560 --> 00:36:35,680
Speaker 1: h but Bannon was charged in federal fraud court in

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00:36:36,760 --> 00:36:39,400
Speaker 1: over this, but Trump pardoned him before he left the

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00:36:39,440 --> 00:36:43,440
Speaker 1: White House. That, of course, however, does not cover state investigations,

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00:36:43,520 --> 00:36:47,239
Speaker 1: and New York Attorney a General Leticia James. James last

693
00:36:47,360 --> 00:36:51,440
Speaker 1: year was working to gather information into the probe. The

694
00:36:51,560 --> 00:36:55,040
Speaker 1: latest on this is that Bannon is going to be

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00:36:55,080 --> 00:36:58,520
Speaker 1: surrendering on Thursday to face criminal charges in New York,

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00:36:59,080 --> 00:37:03,160
Speaker 1: according to Blue Reporting. Interesting to point out that the

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00:37:03,200 --> 00:37:06,719
Speaker 1: state charges can still be in play, even though there

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00:37:06,880 --> 00:37:09,840
Speaker 1: is a federal part and from the former president for

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00:37:10,040 --> 00:37:12,400
Speaker 1: Steve benn And it kind of brings more attention to

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00:37:12,560 --> 00:37:17,400
Speaker 1: the multiple investigations that former President Donald Trump continues to face.

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00:37:18,200 --> 00:37:21,000
Speaker 1: Oh yes, and we got a huge news last night

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00:37:21,640 --> 00:37:25,120
Speaker 1: from the Washington Post saying that some of the documents

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00:37:25,120 --> 00:37:28,960
Speaker 1: that were found in Moral Lago detailed to foreign government's

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00:37:29,040 --> 00:37:34,080
Speaker 1: military defenses, including its nuclear capabilities. Again, Nathan, I mean,

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00:37:34,120 --> 00:37:36,520
Speaker 1: so one of the big stories right now is kind

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00:37:36,560 --> 00:37:39,520
Speaker 1: of what what was in these documents, what sort of

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00:37:39,560 --> 00:37:42,680
Speaker 1: information was there, and what was the risk that someone

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00:37:42,800 --> 00:37:45,160
Speaker 1: was going to see them who really did not have

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00:37:45,239 --> 00:37:47,879
Speaker 1: the clearance to do so. And Nathan, few people do

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00:37:48,280 --> 00:37:51,400
Speaker 1: for things of this level of security, things that involved

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00:37:52,040 --> 00:37:56,160
Speaker 1: nuclear data. This is something that even some senior level

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00:37:56,200 --> 00:37:59,719
Speaker 1: officials don't wind up having access to. So this is

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00:37:59,760 --> 00:38:03,200
Speaker 1: a you know, obviously a developing story. Uh. There was

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00:38:03,520 --> 00:38:06,480
Speaker 1: also additional news yesterday that the courts were going to

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00:38:06,520 --> 00:38:09,799
Speaker 1: appoint a third party, that special master, to look over

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00:38:09,840 --> 00:38:12,880
Speaker 1: the documents that the FBI took out of Moral Lago.

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00:38:13,160 --> 00:38:15,759
Speaker 1: Um And and I think there's just this huge, huge

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00:38:15,840 --> 00:38:19,759
Speaker 1: question of you know, exactly how much danger was there

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00:38:19,800 --> 00:38:24,880
Speaker 1: potentially for other folks outside those who had clearance, uh,

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00:38:24,920 --> 00:38:30,200
Speaker 1: to really learn about various capabilities nuclear military, how much

721
00:38:30,239 --> 00:38:33,040
Speaker 1: was used to US security really put at risk here? Yeah,

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00:38:33,120 --> 00:38:35,560
Speaker 1: it was interesting in that Washington Post report to see

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00:38:35,600 --> 00:38:40,279
Speaker 1: the reaction to this revelation from former President Trump's attorneys

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00:38:40,600 --> 00:38:45,919
Speaker 1: basically saying or criticizing the leak of this detail uh

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00:38:45,960 --> 00:38:49,320
Speaker 1: and raises a question about how much support the former

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00:38:49,360 --> 00:38:54,200
Speaker 1: president can continue to see among other Republicans who, you know,

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00:38:54,280 --> 00:38:56,960
Speaker 1: some have said, well, maybe the former president was keeping

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00:38:56,960 --> 00:38:59,040
Speaker 1: this material at moral Lago because he was working on

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00:38:59,080 --> 00:39:02,239
Speaker 1: a memoir or something like that. Yeah, I mean, you know,

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00:39:02,400 --> 00:39:05,520
Speaker 1: it's very been very interesting to see the Republican Party

731
00:39:05,600 --> 00:39:09,320
Speaker 1: continue to respond to the story. When the raid initially happened,

732
00:39:09,320 --> 00:39:11,520
Speaker 1: there was a lot of outrage. Now that we started

733
00:39:11,520 --> 00:39:13,920
Speaker 1: to see a little bit more about the contents of

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00:39:13,920 --> 00:39:16,680
Speaker 1: what might have been in there, you've seen that criticism

735
00:39:16,719 --> 00:39:19,960
Speaker 1: become more and more subdued, and I think there's a

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00:39:19,960 --> 00:39:23,200
Speaker 1: lot of weight and see does he get charged with anything,

737
00:39:23,320 --> 00:39:25,879
Speaker 1: what does he get charged with to what is the

738
00:39:25,960 --> 00:39:28,440
Speaker 1: extent of the issue, and how do you see that?

739
00:39:28,480 --> 00:39:30,920
Speaker 1: I mean, at this point, Trump certainly still has his

740
00:39:31,000 --> 00:39:34,600
Speaker 1: defenders in the Republican Party. He will probably continue to

741
00:39:34,760 --> 00:39:37,279
Speaker 1: do so for some time. But I think there's a

742
00:39:37,280 --> 00:39:39,719
Speaker 1: lot of questions about what, if any charges are going

743
00:39:39,760 --> 00:39:41,880
Speaker 1: to be coming and if that could make a difference.

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00:39:42,120 --> 00:39:44,800
Speaker 1: All right, let's turn to our current president, President Biden.

745
00:39:44,880 --> 00:39:47,319
Speaker 1: He just had a call with the new leader of

746
00:39:47,360 --> 00:39:52,440
Speaker 1: the UK, Prime Minister Liz Trust. Phillis in on that. Yeah,

747
00:39:52,600 --> 00:39:56,799
Speaker 1: So Biden and Liz Trust they spoke yesterday. There's a

748
00:39:56,800 --> 00:39:59,320
Speaker 1: little bit of tension between the two of them. Obviously

749
00:39:59,400 --> 00:40:02,960
Speaker 1: Biden as a Democrat, Trust is more conservative. She went

750
00:40:03,000 --> 00:40:07,160
Speaker 1: from being anti Brexit to very very strong Brexit. UM.

751
00:40:07,239 --> 00:40:10,600
Speaker 1: I mean, the two leaders did discuss UH, Northern Ireland,

752
00:40:11,120 --> 00:40:14,400
Speaker 1: the Belfast Good Friday Agreement and the importance of of

753
00:40:14,480 --> 00:40:18,960
Speaker 1: reaching agreements with the EU on Northern Ireland UM. And

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00:40:19,680 --> 00:40:22,080
Speaker 1: so at this point there is kind of a hope

755
00:40:22,760 --> 00:40:25,719
Speaker 1: that they are going to be having a good, key

756
00:40:25,760 --> 00:40:30,000
Speaker 1: working relationship, but there's still lots of questions about how

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00:40:30,040 --> 00:40:34,880
Speaker 1: this might change discussions and negotiations with the between the

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00:40:35,000 --> 00:40:38,640
Speaker 1: UK and the EU over Northern Ireland UH, and how

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00:40:38,680 --> 00:40:40,560
Speaker 1: it's going to look like for the two of them

760
00:40:40,600 --> 00:40:44,120
Speaker 1: going forward to continue to work on international issues. A

761
00:40:44,239 --> 00:40:48,160
Speaker 1: cooperation on Ukraine, on China, on the Iran nuclear talks.

762
00:40:48,360 --> 00:40:51,120
Speaker 1: Obviously this is just their their first phone call um.

763
00:40:51,200 --> 00:40:53,400
Speaker 1: So at this point, I think a lot remains to

764
00:40:53,440 --> 00:40:56,680
Speaker 1: be seen exactly how this relationship is going to go forward.

765
00:40:57,200 --> 00:41:01,080
Speaker 1: But this is certainly a different a different ideology of

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00:41:01,120 --> 00:41:04,120
Speaker 1: politicians than than what Biden was working with with Boris

767
00:41:04,239 --> 00:41:06,239
Speaker 1: Johnson that have been to left here and believe it,

768
00:41:06,239 --> 00:41:08,760
Speaker 1: there's a really interesting story from your colleagues at Bloomberg

769
00:41:08,760 --> 00:41:12,319
Speaker 1: Government about House Republicans not necessarily waiting until they maybe

770
00:41:12,440 --> 00:41:16,600
Speaker 1: get control of Congress to investigate the Biden administration's response

771
00:41:16,640 --> 00:41:20,400
Speaker 1: to COVID. Yeah, this is such an interesting story, Nathan,

772
00:41:20,760 --> 00:41:23,760
Speaker 1: because what had basically happened is that there's this unique

773
00:41:23,840 --> 00:41:27,799
Speaker 1: little procedural tool that Congress has called this Resolution of Inquiry,

774
00:41:28,160 --> 00:41:31,680
Speaker 1: which the minority party of Republicans can use to ask

775
00:41:31,760 --> 00:41:36,439
Speaker 1: for documents and details from the Biden administration. Uh, this

776
00:41:36,600 --> 00:41:39,560
Speaker 1: tool really wasn't able to be used earlier in the year.

777
00:41:39,600 --> 00:41:42,240
Speaker 1: It was one of the things that were ended because

778
00:41:42,239 --> 00:41:45,480
Speaker 1: when some COVID protocols went into place. But now it's

779
00:41:45,520 --> 00:41:48,839
Speaker 1: being brought back and Republicans are picking it up. They're

780
00:41:48,880 --> 00:41:52,720
Speaker 1: asking for a number of data from the Biden administration,

781
00:41:53,440 --> 00:41:56,560
Speaker 1: such as how many tests and vaccines were purchased, as

782
00:41:56,560 --> 00:41:59,240
Speaker 1: well as documents related to the oversight of the Wuhan

783
00:41:59,320 --> 00:42:05,240
Speaker 1: Institute of Virology laboratory, where there has been UH various

784
00:42:05,280 --> 00:42:09,439
Speaker 1: stories seeing that the that that COVID could have come

785
00:42:09,480 --> 00:42:12,279
Speaker 1: from there, although at this point there are also a

786
00:42:12,280 --> 00:42:14,799
Speaker 1: lot of experts who say that that that's simply not

787
00:42:15,040 --> 00:42:17,959
Speaker 1: the case. But Republicans have been really trying to push

788
00:42:18,000 --> 00:42:20,360
Speaker 1: and figure out kind of where the origins of COVID

789
00:42:20,360 --> 00:42:23,000
Speaker 1: have come from. UH, and they've continued to have an

790
00:42:23,080 --> 00:42:25,440
Speaker 1: interest in looking at the idea that it could have

791
00:42:25,440 --> 00:42:28,320
Speaker 1: been created and allowed. Thanks for this as always, Bloomberg

792
00:42:28,320 --> 00:42:30,880
Speaker 1: Government reporter Emily Wilkins. You can read more on that

793
00:42:31,000 --> 00:42:34,040
Speaker 1: story and all that's happening in the nation's capital Bloomberg

794
00:42:34,120 --> 00:42:37,600
Speaker 1: dot com or on the Bloomberg terminal and Bloomberg and

795
00:42:37,640 --> 00:42:39,840
Speaker 1: one or five point seven f m h D two

796
00:42:40,280 --> 00:42:42,880
Speaker 1: is where to hear Bloomberg Radio in Washington, d C.

797
00:42:43,160 --> 00:42:46,960
Speaker 1: Bloomberg Surveillance is next for Karen Moscow. I'm Nathan Hagar.

798
00:42:48,000 --> 00:42:48,880
Speaker 1: This is Bloomberg