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

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Speaker 1: Daybreak for Wednesday, February nine two. Coming up this hour,

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Speaker 1: Global stocks rise as the bond sell off eases. Disney

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Speaker 1: heads Today's earnings parade on Wall Street. President Biden makes

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Speaker 1: another pitch for his economic agenda incentive. Majority leader Chuff

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Speaker 1: Schumer endorses a band on stock tradeing in Congress, Governor

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Speaker 1: Cormo says New York COVID hospitalizations are down. The Christmas

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Speaker 1: lobels Floss protests continued today in the Nmark after last

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Speaker 1: week's military food not Michael barn More Ahead, John Dasher

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Speaker 1: and sports. The losses continued for the Knicks and net

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Speaker 1: the Devil's Wants st John's loss, and finally a gold

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Speaker 1: medal for the US at the Olympics. That's all straining

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Speaker 1: Ahead on Bloomberg Daybreak on Bloomberg eleven, Freeo New York,

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

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Speaker 1: Bloomberg nine sixties and Francisco Syrius XM one nine team

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Speaker 1: and around the world on Bloomberg Radio dot Com and

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Speaker 1: via The Bloomberg Business and Good Morning, I'm Karen Moscow.

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Speaker 1: I'm Nathan Hagar. Bloomberg Day Break brought to you by

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Speaker 1: SEI Challenges highlight one's character, partnership and resilience. At SEI,

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Speaker 1: they act as one community with their clients. Go to

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Speaker 1: se i C dot com, slash banks, and US Future

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Speaker 1: is adding to yesterday's games five oh one on Wall Street.

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Speaker 1: We checked the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg, SMP future is up twenty seven points down,

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Speaker 1: futures up a hundred seventy nasdack futures up one hundred

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Speaker 1: six The decks in Germany's up one point four percent.

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Speaker 1: Ten year treasury up twelve thirty seconds, YELD one point

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Speaker 1: nine one percent, and they yield on the two year

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Speaker 1: one point three one percent. Nathan Well, Karen, The rise

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Speaker 1: in stocks comes as the sell often bonds takes a break.

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Speaker 1: Ten Your treasury yields are retreating after US stock staged

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Speaker 1: a late rallying yesterday's session. Ryan Dietrich, chief market strategist

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Speaker 1: at LPL Financial says, it's a resilient market when we're

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Speaker 1: carving out of bottom. We had about a ten percent

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Speaker 1: crush in the smp here um. You know, we can

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Speaker 1: maybe go back down and tested from technical point of view.

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Speaker 1: But the truth again is this market just kind of

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Speaker 1: seems like it's choppy and wants to kind of just

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Speaker 1: bide its time here. It's not necessarily bearish, maybe not

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Speaker 1: super bowlish either, but after not the end of the world,

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Speaker 1: after the rally we saw last year. LPL Financial Chief

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Speaker 1: market Strategist Ryan Dtrich made the comments on Bloomberg Business Week.

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Speaker 1: Catch the program weekdays at two pm Eastern on Bloomberg Radio.

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Speaker 1: Well over Night, Nathan, we saw stocks in Asia follow

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Speaker 1: Well Street higher. We get the recap from Bloomberg's Juliette

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Speaker 1: Sally and Singapore. Good Morning, Juliette, Good morning, Karen. Chinese

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Speaker 1: stocks advanced in afternoon trading, tracking a rally and regional

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Speaker 1: peers and a state backed funds intervention in the previous

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Speaker 1: session a laid fears of a further route. The smaller

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Speaker 1: tech focused China's index also gained after entering a technical

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Speaker 1: bear market in the previous session. Meanwhile, a rebound in

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Speaker 1: tech shires such as Ali Baba boosted Hong Kong's market.

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Speaker 1: The Hang Sing index up more than two and the

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Speaker 1: back of Japan open did not to deviate from its

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Speaker 1: path and portly bond purchases holding five even as yields

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Speaker 1: rose to six year highs in Singapore. Juliet Sally Bloomberg Daybreak, Okay, Juliet,

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Speaker 1: thank you. Earnings continue to be a focus on Wall

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Speaker 1: Street this week. Shares of Lift are down more than

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Speaker 1: four percent in early trading. Revenue at the company beat estimates,

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Speaker 1: but riders fell short in the face of the Omicron variant.

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Speaker 1: We get the details from Bloomberg's Charlie Pellett. While Lift

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Speaker 1: was benefiting from higher prices because of a shortage of drivers,

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Speaker 1: it also reported fewer riders of an expected as Omicron damp.

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Speaker 1: Travel revenue rose seventy percent from a year ago. The

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Speaker 1: company reported eighteen point seven million active riders in the quarter,

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Speaker 1: up from a year earlier, but still short of the

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Speaker 1: twenty two point nine million in twenty nine analysts were

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Speaker 1: expecting twenty million. In New York. Charlie Pellett Bloomberg Daybreak, Fairly,

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Speaker 1: thank you. Another stock we're keeping an eye on this

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Speaker 1: morning is Containers Store. Shares her down twenty five percent

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Speaker 1: after an earnings forecast that trailed estimates. Even before today's

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Speaker 1: slump container story stock was down from its peak in March.

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Speaker 1: Coming up today, Karen, we get earnings from fifteen companies

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Speaker 1: in the SMP five hundred and Disney headlines the less.

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Speaker 1: Let's get a preview from Bloomberg's Tom Busby. The big

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Speaker 1: focus for Disney's first quarter earnings today will be on

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Speaker 1: subscriber growth at Disney Plus at streaming video service, has

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Speaker 1: more people shift to viewing movies and shows online. Forecast

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Speaker 1: call for just over a hundred twenty five million subscribers now,

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Speaker 1: a sizeable increase thanks to colder winter weather and the

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Speaker 1: o macron Berry and keeping many Americans at home last quarter.

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Speaker 1: Also of note, it's Theme Parks division, which may have

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Speaker 1: seen a return to pre pandemic levels in December. Tom

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Speaker 1: Busby Bloomberg Daybreak, Tom, thank you. Let's shift from Wall

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Speaker 1: Street to geopolitics now, where the standoff with Russia continues.

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Speaker 1: Now the Senator is working on a package of sanctions

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Speaker 1: to put some teeth into threats aimed at Russia. Bloomberg's said,

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Speaker 1: Master has a story. Whether the Senators can get together

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Speaker 1: on this and bipartisan fashion is an open question. Democratic

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Speaker 1: Senator Chris Cohn says progress is being made, hopeful, and

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Speaker 1: we will see a sanctions bill that has bi partisan

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Speaker 1: support introduced this week. But Republican Senator Mitch McConnell, minority leader,

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Speaker 1: says it is not the right path. I don't think

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Speaker 1: Putin will be deterred by any piece of legislation the

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Speaker 1: United States Senate. McConnell says the President has all the

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Speaker 1: tools himself to go ahead and slap on sanctions. In

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Speaker 1: San Francisco, I'm at Baxter Bloomberg Gay Break, okay, and thanks.

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Speaker 1: At the White House, we see a fresh push today

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Speaker 1: to promote President Biden's economic agenda. He'll meet with leaders

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Speaker 1: of the nation's largest utility companies as part of an

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Speaker 1: effort to promote energy and climate measures. Amy Morris has

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Speaker 1: details from our Bloomberg newsroom in Washington. This is just

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Speaker 1: the latest effort by President Biden to rally support from

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Speaker 1: corporate leaders. The attendees, including officials from Excelon Edison International,

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Speaker 1: Duke Energy, and American Electric Power, are expected to encourage

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Speaker 1: Congress to pass legislation related to climate and energy. The

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Speaker 1: group also plans to push for new transmission lines and

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Speaker 1: other energy infrastructure, much of which is already included in

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Speaker 1: the stalled Build Back Better plan in Washington. I'm Amy Morris,

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Speaker 1: Bloomberg Daybreak. All right, Amy, thank you well. There's also

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Speaker 1: a movement on another initiative and Congress that push the

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Speaker 1: band stock trading by lawmakers appears to be gaining steam,

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Speaker 1: making the latest lie from Bloomberg's rand A Young. Good morning, Ranida,

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Speaker 1: Good morning, Karen. Senate majority Leader Chuck Schumer is endorsing

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Speaker 1: a ban on stock trading by members of Congress. The

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Speaker 1: idea is being pushed by both Democrats and Republicans with

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Speaker 1: multiple proposals, and now Schumer wants to see the ideas

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Speaker 1: merged into one bill. Senate Republican Leader Mitch McConnell, on

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Speaker 1: the other hand, says he hasn't given much thought on

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Speaker 1: banning securities trading, but adds that he's invested in mutual

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Speaker 1: funds rather than individual stocks. How Speaker Nancy Pelosi was

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Speaker 1: previously opposed to a band, but last month began to

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Speaker 1: consider one. She says, if her members want to band

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Speaker 1: stock trading in Congress that she supported. Live in New York,

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Speaker 1: I'm Ranita Young, Bloomberg Daybreak. Okay, Ranita, thank you well.

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Speaker 1: Stocks moving higher this morning. At the index level, we

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Speaker 1: have SMP futures up twenty nine points right now, deal

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Speaker 1: future is up a hundred eighty three, NASTACK futures on

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Speaker 1: the rise by a hundred sixteen points, The tenure treasury

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Speaker 1: is up twelve thirty seconds, the yield now one nine,

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Speaker 1: and the yield on the two year one point three one.

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Speaker 1: Straight ahead your latest local headlines in the check of sports.

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Speaker 1: This is Bloomberg. That's five oh seven on Wall Street

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Speaker 1: where thirty degrees in Central Park and we have an

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Speaker 1: overturn tractor trailer southbound New Jersey Turnpike by Eggsit ten.

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Speaker 1: Details coming up in traffic. First, Michael Barr is here

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Speaker 1: with more on what's going on in New York and

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Speaker 1: around the world. Can morning, Michael, Good morning Nathan. As

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Speaker 1: COVID cases continue to drop across the country, states are

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Speaker 1: easing pandemic restrictions, including indoor mask mandates. Today in New

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Speaker 1: York's Governor Kathy Hokel is set to drop the state's

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Speaker 1: indoor mask mandate. This as infection rates drop across New

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Speaker 1: York State and the rest of the country. We've not

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Speaker 1: seen these kind of numbers since November eight. Governor Hokel

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Speaker 1: is expected to keep the mandate in place for schools

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Speaker 1: in the state, at least for now. Robert Lowry with

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Speaker 1: the New York State Council of School Superintendence, told w

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Speaker 1: ABC that he's pleased that local is at least considering

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Speaker 1: a change. She also said, you know, there's some concern

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Speaker 1: about what might happen when students on staff are away

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Speaker 1: from school for the the February break um, but it's

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Speaker 1: but it's encouraging that it's apparent from our conversation at

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Speaker 1: the state is looking at um whether and how to

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Speaker 1: make a change in match requirements. Robert Lowry, with the

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Speaker 1: Council of School Superintendent says the possible change could ease

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Speaker 1: some frustration among parents. Senate Minority Leader Mitch McConnell is

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Speaker 1: taking aim at the r n C resolution that declared

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Speaker 1: the January six Capitol riot legitimate political discourse. The Republican

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Speaker 1: leader called it a violent insurrection. McConnell also says censuring

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Speaker 1: GOP members Liz Cheney and Adam Kinziger is out the

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Speaker 1: rnc's job. Traditionally, the view of the National Party Committee

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Speaker 1: is that we support all members of our party, regardless

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Speaker 1: of their positions on some issues. McConnell says the purpose

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Speaker 1: of the insurrection was to prevent the peaceful transfer power

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Speaker 1: after a legitimately certified election. And Amtrak watchdog group says

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Speaker 1: New York City's Gateway rail project risks further delays. Am

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Speaker 1: Track's Office of Inspector General says the company is challenged

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Speaker 1: by a lack of comprehensive plans for the project. Gateway

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Speaker 1: project is aimed at alleviating real congestion between New York

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Speaker 1: and New Jersey. The second man charged in an alleged

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Speaker 1: plot to kidnap Michigan Governor Gretchen Whitmer is expected to

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Speaker 1: plead guilty Today. Global News twenty four hours a day

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

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Speaker 1: twenty seven journalists and analysts in more than a hundred

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Speaker 1: twenty countries. I'm Michael Barren. This is Bloomberg, Nathan. Thanks Michael.

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Speaker 1: Come up to five ten on Wall Street time for

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Speaker 1: the Bloomberg Sports Update. Good morning John, alrighty morning, Nathan.

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Speaker 1: The NBA trade deadline is tomorrow. Will the Knicks and

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Speaker 1: Nets making ill Judgson for the last night? Both teams

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Speaker 1: beat some help the Knicks in Denver. Were they having

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Speaker 1: once in the two thousand six they left. The Nuggets

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Speaker 1: scored eighty three points in the first half Denver on

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Speaker 1: to one fifteen. The hit five players score at least

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Speaker 1: nineteen points. The Knicks have lost ten of the last twelve.

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Speaker 1: Doesn't get any easier there. At Golden State tomorrow, the

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Speaker 1: Nets have lost all of their last nine. Back home

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Speaker 1: from an ohen five roach up, the Celtics led to

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Speaker 1: two and one, one to ninety one. That's Boston sixth

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Speaker 1: raight win. The Nets did not have the Big three,

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Speaker 1: and no Nets starters scored more than six points. Coach

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Speaker 1: Steve Nash couldn't really blame the guys. He had to

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Speaker 1: use out there and the tramp and blitz and run

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Speaker 1: around and and and do things that we haven't done

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Speaker 1: a ton of to mix it up and see how

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Speaker 1: we did. And and Room fell down in two mets

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Speaker 1: in Washington tomorrow, Devil's a seven one route of Montreal St.

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Speaker 1: John's fell at home to fifteen Frank Villanova seventy five

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Speaker 1: sixty top rank. Auburn lost in overtime at Arkansas. The

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Speaker 1: Giants new defensive point there is Don winked Martindale, surprisingly

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Speaker 1: fired by Baltimore. He replaces Patrick Graham, who was offered

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Speaker 1: to stay but left with the Raiders. Joe Judge going

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Speaker 1: back to New England, where he was an assistant before

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Speaker 1: his two year stint as Giants had to sixteen years ago,

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Speaker 1: Lindsay Jacobellis was ridiculed for celebrating prematurely in her snowboard

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Speaker 1: race of the Olympics. Acost her a gold medal Today

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Speaker 1: at age thirty six, jacobellas one of gold, the first

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Speaker 1: by the US in Beijing. John Stash award Bloomberg Sports. Yeah,

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Speaker 1: how ironic. Now we're celebrating gold belatedly, thanks John. SFP

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Speaker 1: futures right now thirty points. Staff futures up a hundred

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Speaker 1: eighty eight. Nastack futures are higher by a hundred twenty

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Speaker 1: three points to ten. Your treasury up eleven thirty seconds,

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Speaker 1: the yield one point nine to per cent. We'll check

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Speaker 1: in with Bloomberg Market Senator Christine Nikino next on these markets.

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Speaker 1: This is Bloomberg Bloomberg eleven three oh weather sunshine low

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Speaker 1: forties today will be part of the mostly Sunday tomorrow

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Speaker 1: upper forties mix of sun and clouds by Friday upper

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Speaker 1: forties to around fifty degrees currently thirty in Central Park markets.

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Speaker 1: Headlines and breaking news twenty four hours a day at

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Speaker 1: Bloomberg dot Com of Bloomberg Business at Land at Bloomberg

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Speaker 1: Quick Tape Free is a Bloomberg Business flash and I'm

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Speaker 1: Karen Moscow US not Index futures on the rise and

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Speaker 1: a sell off and sovereign bonds pausing, bringing some relief

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Speaker 1: for markets whipsode in recent weeks by concerns about tightening

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Speaker 1: monetary policy. Check the markets every fifteen minutes throughout the

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Speaker 1: trading day on Bloomberg S and P Future is up

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Speaker 1: thirty three points down, futures up two hundred eight, nastag

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Speaker 1: futures of one forty decks and Germany's of one at

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Speaker 1: half percent the ten year treasury at twelve thirty seconds.

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Speaker 1: He had one point one percent yield on the two

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Speaker 1: year one point three one percent. Nimex screwed oils down

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Speaker 1: two tenths percent or sixteen cents at eighty nine dollars

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Speaker 1: twenty cents. A barrel comic school that will change at

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Speaker 1: eighteen twenty announced the euro on point one four to

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Speaker 1: and Bitcoin this morning moving lower at forty three thousand

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Speaker 1: and six hundred dollars. And today we're watching for our

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Speaker 1: report on wholesale inventories at at ten o'clock. Wall Street,

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Speaker 1: Time and Disney and CBS Health are among companies scheduled

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Speaker 1: to report earnings today. That's a Bloomberg business flash. Now

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Speaker 1: here's Michael Barr with Moore on what's going on around

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Speaker 1: the world. Uncle, good morning, Good morning, Karen. Senate Republican

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Speaker 1: leader Mitch McConnell is criticizing the Republican National Committee for

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Speaker 1: centuring two House GOP lawmakers, saying it's not the party's

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Speaker 1: job to decide whom to support. McConnell also called the

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Speaker 1: January sixth Capital Riot of violent insurrection. Menzie Jacobellis captured

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Speaker 1: America's first gold medal of the Beijing Olympics in her

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Speaker 1: snowboard cross final. The US has a total of seven medals,

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Speaker 1: including five silvers. Norway and Sweden er time for gold

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Speaker 1: medals at four piece. Russia has the most overall medals

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Speaker 1: at ten. In the NBA, the next lost the Celtics

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Speaker 1: beat the Nats one one in the NHL. The Devil's won,

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Speaker 1: the Bruins and Capitals lost. Global News twenty four hours

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Speaker 1: a day on a ran on Bloomberg quick Take, powered

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Speaker 1: by more than twenty seven hundred journalists and analysts more

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Speaker 1: than a hundred twenty countries. I'm Michael Barr. This is Bloomberg. Nathan. Okay, Michael,

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Speaker 1: thank you. It's five nineteen on Wall Street Live from

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Speaker 1: the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak. We're

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Speaker 1: very pleased to be joined this morning by Bloomberg Markets

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Speaker 1: editor Christina Kino. As we see UH buying across the board. Christine,

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Speaker 1: good morning, stocks getting to lift, Bond yields are falling. Now.

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Speaker 1: Do you think the bond sell off is kind of

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Speaker 1: found a range at this point? Yes, only feels like

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Speaker 1: that's ethan at least in the short term. Though, given

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Speaker 1: the price of action that we've seen over the last

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Speaker 1: couple of weeks, if I were an investor, it would

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Speaker 1: be difficult for me to trust this. UM. I don't

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Speaker 1: know that we're out of the woods just yet, especially

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Speaker 1: with UM the big US CPI data coming tomorrow, but

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Speaker 1: certainly for today, it seems like the theme is a

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Speaker 1: breather in bond markets. Yeah, especially on the long end,

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Speaker 1: getting a big bid this morning for the thirty year.

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Speaker 1: What's behind that, do you think? Well, certainly feels a

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Speaker 1: bit like a consolidation, if you will, because that part

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Speaker 1: of the treasury curve has certainly born the brunt of

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Speaker 1: the sell off that we saw over the last couple

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Speaker 1: of weeks after we heard from the FEDS hawkish pivot,

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Speaker 1: and um other center banks followed through it. Certainly, the

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Speaker 1: trade in vogue was short duration. We kept hearing that

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Speaker 1: from a lot of investors over the last few weeks.

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Speaker 1: And so on a day like today, when everything is

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Speaker 1: reversing just a little bit and there's this feeling of consolidation,

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Speaker 1: you would expect some of those longer and treasuries and

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Speaker 1: and parts of the bond market to be the first

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Speaker 1: ones in line for a bit of a rebound, at

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Speaker 1: least on a day. But as you mentioned, this could

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Speaker 1: be a consolidation for now. Because you allude to the

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Speaker 1: CPI data, the inflation print that we're going to get tomorrow.

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Speaker 1: From the investors that you're speaking to, what's their expectation

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Speaker 1: about the kind of volatility we could see once we

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Speaker 1: get hard numbers on the latest account on inflation. Well,

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Speaker 1: there's certainly a feeling of investors bracing for any sort

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Speaker 1: of risk that could come out there, whether it's a

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Speaker 1: bit of a disappointment from that number or um if

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Speaker 1: it surprises even more to the upside. And I think

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Speaker 1: what we really have seen in bond markets, especially this year,

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Speaker 1: is that it's the return of two way risk. You know,

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Speaker 1: it doesn't just go one direction anymore, which is what

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Speaker 1: we saw over the past decade because center banks just

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Speaker 1: keep just kept buying bonds across the globe. But now

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Speaker 1: that environment has changed very much, and so we're certainly

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Speaker 1: seeing more of this sort of double direction, if you will,

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Speaker 1: in in bond yields. And and that's certainly something that's

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Speaker 1: you know, as as evidence like today's UM a pullback

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Speaker 1: in yields after a couple of days of of climbing. Yeah,

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Speaker 1: we've heard quite a bit of commentary about whether the

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Speaker 1: tigure could climb as high as two and a half,

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Speaker 1: maybe even three percent based on what the FED does.

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Speaker 1: What's the expectation on where the FED could go from here,

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Speaker 1: particularly with that March meeting coming up next month, and

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Speaker 1: so much to talk about whether there's going to be

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Speaker 1: not just a quarter percent rate hike, but maybe a

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Speaker 1: half percent. Absolutely, I think we're calling that a supersized

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Speaker 1: rate hike in March. UM, you know, I think that

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Speaker 1: still is very much part of the discussion and certainly

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Speaker 1: something that investors are keeping half an eye on. But

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Speaker 1: I have to say, just looking at some of the

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Speaker 1: market pricing over the last couple of days, it has

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Speaker 1: lost a little bit of steam just in terms of

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Speaker 1: what's built into traders expectations. And I think that's partly

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Speaker 1: why we're seeing a bit of relief for bonds here,

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Speaker 1: because you know, as a lot of investors have noted

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Speaker 1: the pricing and just the expectation for the Fed and

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Speaker 1: Arther Central Banks to really get in on a rate

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Speaker 1: hiking cycle that really hit fever pitch, you know, UM

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Speaker 1: over the last a few days and weeks of January

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Speaker 1: and heading into February. And so now that the markets

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Speaker 1: have kind of gotten that into um its system and

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Speaker 1: price some of those in, there's really only so much

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Speaker 1: you can price, and so now that we're waiting for

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Speaker 1: the next input, which could come as soon as tomorrow

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Speaker 1: from the inflation data. It makes a lot of sense

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Speaker 1: for a bit of a pause there in our last

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Speaker 1: minute here, Christine and I guess we're seeing some of

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Speaker 1: that relief play out in the stock market as well

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Speaker 1: as we get through earning season. It's been really interesting

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Speaker 1: though to see how, you know, mrs on earnings have

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Speaker 1: just been crushed while beats have gotten really outsized rewards

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Speaker 1: in this cycle. Absolutely, Nathan and I think that is

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Speaker 1: very much investors really looking at the fundamentals of individual

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Speaker 1: companies and seeing can they withstand this environment of less

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Speaker 1: support from central banks and in the Federal Reserve and

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Speaker 1: rising rates. And there has been such a focus on

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Speaker 1: um individual companies fundamentals because the question is can corporates

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Speaker 1: really uh standard their own and have their own merits

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Speaker 1: and and capitalize on that despite the fact that they're

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Speaker 1: not going to be in as supportive of an environment

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Speaker 1: as they have been in the past decade. Good to

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Speaker 1: have you on with us, Christine, Thanks for being here.

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Speaker 1: Christina Keno, Bloomberg Markets Editor with us this morning as

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Speaker 1: we watch assets climb pretty much across the board really

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Speaker 1: with SMP futures right now up thirty four point Staff

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Speaker 1: futures up two hundred sixteen. NASTAC futures are higher by

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Speaker 1: a hundred thirty seven points. The tenure treasury is up

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Speaker 1: eleven thirty seconds, the yield one point nine the yield

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Speaker 1: on the two year one point three two, and the

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Speaker 1: thirty year yield right now two point to one percent.

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Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather sunshine,

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Speaker 1: low forties today partly the mostly sunny Tomorrow opper forties

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Speaker 1: could hit fifty on Friday under mix of sun and clouds.

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Speaker 1: Right now, it's thirty under a clear sky in Central Park.

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Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York.

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Speaker 1: Bloomberg E Living free to Washington, d C, Bloomberg ninety

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Speaker 1: one to Boston, Bloomberg one O six one to San Francisco,

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Speaker 1: Bloomberg N sixteen to the country, Sirius XM CHADO one

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Speaker 1: nine team, and around the globe the Bloomberg Business apt

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Speaker 1: in Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's

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Speaker 1: by thirty on Wall Street. Good morning. I'm Nathan Hagril

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Speaker 1: and I'm Kert Moscow, and we're just about four hours

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Speaker 1: away from the open of US trading. Let's get you

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Speaker 1: have to date of the news. You need to know

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Speaker 1: what this our Our global stocks are rising as to

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Speaker 1: sell off in bonds hits pause, tending your treasury yields

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Speaker 1: are retreating after US stocks staged a late rally and

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Speaker 1: yesterday's session again more from a Bloomberg Markets reporter, Christina Kino,

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Speaker 1: I think we are starting to see signs of the

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Speaker 1: sell off, at least pausing, if not completely stopping. Definitely

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Speaker 1: today there's this feel of a bit of a pullback,

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Speaker 1: perhaps um heaving ahead of the CBI number in the

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Speaker 1: US tomorrow. That's gonna be the next big one probably.

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Speaker 1: And Bloomberg's Christina Quino says technology stocks are leading gains

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Speaker 1: in Europe and right now SNP futures are up thirty

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Speaker 1: three points. Earnings are once again in focus today. Karen

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Speaker 1: Disney leads fifteen companies reporting meantime shares of lift Or

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Speaker 1: down almost four percent. The company reported fewer writers than

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Speaker 1: expected in the fourth quarter as the omicron very curbed travel.

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Speaker 1: Now we turn to geopolitics and the latest on Russia.

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Speaker 1: That Kremlin continues to deny any intention to invade Ukraine.

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Speaker 1: Congress is split on whether to sanction Moscow sent a.

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Speaker 1: Republican leader Mitch McConnell is skeptical it would be effective,

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Speaker 1: but Democrats, like Virginia Congress Sloman Abigail Spenberger, says it's

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Speaker 1: a viable option. We should be ready for any possible contingency.

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Speaker 1: We should be ready to punch as hard as we

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Speaker 1: can as it relates to sanctions at whatever point in

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Speaker 1: time we decide to move in that direction. Virginia congressom

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Speaker 1: and Abigail Spenberger spoke with our Washington corresponded Joe Matthew

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Speaker 1: on Bloomberg Sound On. Catch the program weekdays at five

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Speaker 1: pm Eastern on Bloomberg Radio. The White House. Today, Karen,

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Speaker 1: we see a fresh push to promote President Biden's economic agenda.

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Speaker 1: He will meet with leaders of the nation's largest utility

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Speaker 1: companies as part of an effort to promote energy and

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Speaker 1: climate measures. Meantime, Nathan the plush de band stock trading

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Speaker 1: and Congress appears to be gaining steam. We get the

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Speaker 1: latest line from Bloomberg's Rnita Young. Good Morning, Radida, Good

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Speaker 1: morning Karen. Senate Majority leader Chuck Schumer is endorsing a

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Speaker 1: ban on stock trading by members of Congress. The idea

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Speaker 1: is being pushed by both Democrats and Republicans with multiple proposals,

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Speaker 1: and now Schumer wants to see the ideas merged into

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Speaker 1: one bill. Senate Republican leader Mitch McConnell says he has

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Speaker 1: not given much thought to the idea. How Speaker Nancy

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Speaker 1: Pelosi was previously opposed to a band, but says if

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Speaker 1: members want it, she'll support it. Live in New York,

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Speaker 1: I'm gonna need a young Bloomberg daybreak, alright, you need

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Speaker 1: to thank USMP Future is up thirty four points a

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Speaker 1: DAL futures up two hundred sixteen and Aztec futures up

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Speaker 1: one d forty. The ten year treasury up ten thirties

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Speaker 1: seconds one point nine two percent, and they yield on

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Speaker 1: the two year one point three one percent. And straight

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Speaker 1: ahead your latest local headlines plus a check of sports,

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Speaker 1: and this is Bloomberg. Thanks Karen. Three on Ball Street

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Speaker 1: thirty degrees in Central Park and a big issue on

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Speaker 1: the south bounder juicy Turnpike truck lanes. There's an overturned

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Speaker 1: tractor trailer in Greg's at ten. The tails coming up

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Speaker 1: in traffic first Michael Barr with more on what's going

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Speaker 1: on in New York and around the world. Michael, thank

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Speaker 1: you very much. Nathan, New York's governor and health officials

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Speaker 1: are planning changes into COVID masked mandates. One of the

428
00:23:59,720 --> 00:24:02,560
Speaker 1: man dates for requires face coverings and schools, and the

429
00:24:02,600 --> 00:24:06,000
Speaker 1: other man dates that they have them in other public

430
00:24:06,040 --> 00:24:10,280
Speaker 1: indoor settings. Democratic Governor Canthy Loco plans to announce today

431
00:24:10,320 --> 00:24:13,199
Speaker 1: which rules will stay in place. She had hinted the

432
00:24:13,240 --> 00:24:16,880
Speaker 1: school mandate might remain in place for now. Robert Lowry

433
00:24:16,960 --> 00:24:20,080
Speaker 1: with the New York State Council of School Superintendent, says

434
00:24:20,160 --> 00:24:23,840
Speaker 1: that he's pleased that local is at least considering a change.

435
00:24:24,359 --> 00:24:29,760
Speaker 1: It's encouraging that it's apparent that the governor, her staff,

436
00:24:30,000 --> 00:24:35,679
Speaker 1: health up parment officials are having conversations about, uh, what

437
00:24:35,840 --> 00:24:39,640
Speaker 1: we justify a change in mass requirements. Lowy with the

438
00:24:39,680 --> 00:24:43,400
Speaker 1: New York State Council of School Superintendent, spoke to w ABC.

439
00:24:43,960 --> 00:24:47,160
Speaker 1: Sentate minority leader Mimtch McConnell is denouncing the Republican National

440
00:24:47,200 --> 00:24:51,600
Speaker 1: Committee for centuring two House GOP lawmakers investigating last year's

441
00:24:51,640 --> 00:24:56,240
Speaker 1: capital riot. McConnell called the riot of violent insurrection the

442
00:24:56,400 --> 00:25:00,360
Speaker 1: issue is whether or not the RMC should be sort

443
00:25:00,359 --> 00:25:03,639
Speaker 1: of singling out members of our party who they have

444
00:25:03,920 --> 00:25:07,280
Speaker 1: different views from the majority. That's not the job of

445
00:25:07,320 --> 00:25:11,840
Speaker 1: the RNC. The RNC last week voted to since your Representatives,

446
00:25:11,880 --> 00:25:16,159
Speaker 1: Liz Cheney and Adam Kinziger. The RNC resolution called the

447
00:25:16,240 --> 00:25:20,359
Speaker 1: January six riot legitimate political discourse, and that prompted a

448
00:25:20,440 --> 00:25:25,200
Speaker 1: firm pushback from several GOP senators. CDC Director Dr Rochelle

449
00:25:25,200 --> 00:25:28,080
Speaker 1: Willinski says, now is not the moment to drop mask

450
00:25:28,160 --> 00:25:31,320
Speaker 1: man dates in schools and other public places. I don't

451
00:25:31,359 --> 00:25:33,760
Speaker 1: think where they are right now. UM. I know people

452
00:25:33,800 --> 00:25:37,840
Speaker 1: are cautiously optimistic. I am cautiously optimistic about watching our

453
00:25:37,920 --> 00:25:40,160
Speaker 1: cases come down, and they've come down quite a bit,

454
00:25:40,680 --> 00:25:45,000
Speaker 1: but we're still at two cases a day. Dr Rochelle

455
00:25:45,000 --> 00:25:47,760
Speaker 1: Willinski Global News twenty four hours a day on a

456
00:25:47,960 --> 00:25:50,680
Speaker 1: or and on Bloomberg Quick Take, powered by more than

457
00:25:50,760 --> 00:25:53,520
Speaker 1: twenty seven hundred journalists and analysts more than a hundred

458
00:25:53,520 --> 00:25:57,679
Speaker 1: twenty countries. Michael Barr and this is Bloomberg. Nathan. Okay, Michael,

459
00:25:57,680 --> 00:26:05,600
Speaker 1: thank you on Wall Street time for the Bloomberg Sports Update.

460
00:26:05,640 --> 00:26:07,720
Speaker 1: Here's John stan Shower. All right, Nathan, between the Knicks

461
00:26:07,720 --> 00:26:10,440
Speaker 1: and Nets. Hard to say which team is struggling more

462
00:26:10,560 --> 00:26:12,160
Speaker 1: right now, and that's just at a No. One five

463
00:26:12,280 --> 00:26:14,560
Speaker 1: road trip and Knicks row one three so far on

464
00:26:14,600 --> 00:26:17,639
Speaker 1: their five game trip in Denver, where the Knicks incredibly

465
00:26:17,640 --> 00:26:20,920
Speaker 1: having won in sixteen years, the Nuggets scored eighty three

466
00:26:20,960 --> 00:26:23,320
Speaker 1: points in the first half. They won one thirty two

467
00:26:23,400 --> 00:26:26,040
Speaker 1: to one fifteen. The Knicks have lost tenant fwelve. Their

468
00:26:26,119 --> 00:26:29,840
Speaker 1: coaches Tom Tibou the first quarter, I thought we've played well. Um.

469
00:26:30,160 --> 00:26:33,720
Speaker 1: I thought the starters got us off to a good start, uh,

470
00:26:33,920 --> 00:26:39,280
Speaker 1: both offensively and defensively. And then the the when we

471
00:26:39,520 --> 00:26:44,280
Speaker 1: broke the line up, we lost our defensive component. Knicks.

472
00:26:44,280 --> 00:26:46,679
Speaker 1: I have to play Golden State tomorrow and R J. Barrett,

473
00:26:46,760 --> 00:26:49,520
Speaker 1: Knicks best player, limping off the court last night injuries

474
00:26:49,520 --> 00:26:52,040
Speaker 1: derailing the Nets. No Kevin Durando. James Harden's got a

475
00:26:52,040 --> 00:26:54,160
Speaker 1: hamstring injury al though some wonder if the Nets kept

476
00:26:54,160 --> 00:26:56,760
Speaker 1: hardened out because they're about to trade him. Will know

477
00:26:56,840 --> 00:26:59,359
Speaker 1: by tomorrow's deadline. The Nets lost their ninth in a

478
00:26:59,480 --> 00:27:02,840
Speaker 1: row to sell six one one ninety one. They led

479
00:27:02,880 --> 00:27:07,640
Speaker 1: early on two Devils won seven one of Montreal Surious

480
00:27:07,720 --> 00:27:10,320
Speaker 1: Valley for St. John's. They trailed Villanova by twenty with

481
00:27:10,359 --> 00:27:13,080
Speaker 1: four minutes left and cut at the three. Nova held

482
00:27:13,080 --> 00:27:16,960
Speaker 1: on seven nine. Fordham in Manhattan both lacked. Joe Judge

483
00:27:16,960 --> 00:27:19,680
Speaker 1: fired his Giants coach has a job. It's his old one.

484
00:27:19,760 --> 00:27:22,240
Speaker 1: He will again be an assistant to Bill Belichick in

485
00:27:22,240 --> 00:27:24,600
Speaker 1: New England. The new Giants defense to Forde There is

486
00:27:24,640 --> 00:27:27,639
Speaker 1: Wink Martindale from Lee with Baltimore. Took five days, but

487
00:27:27,760 --> 00:27:29,600
Speaker 1: finally a U S gold medal at the Olympics that

488
00:27:29,680 --> 00:27:32,200
Speaker 1: comes from thirty six year old Lindsay Jacobellis in the

489
00:27:32,280 --> 00:27:36,040
Speaker 1: snowboard cross. But another disappointment for Michael Is Schiffer in

490
00:27:36,119 --> 00:27:39,720
Speaker 1: second straight time. She had an early ball. John Stashoward

491
00:27:39,760 --> 00:27:42,520
Speaker 1: Bloomberg Sports naked All right, John, thank you. It's final

492
00:27:42,600 --> 00:27:44,760
Speaker 1: thirty seven on Wall Street. Time for the Tri State

493
00:27:44,800 --> 00:27:48,879
Speaker 1: Business Report. Here's Bloomberg's at Cory. Deutsche Bank and UBS

494
00:27:48,960 --> 00:27:51,640
Speaker 1: are among six financial firms working with the New York

495
00:27:51,680 --> 00:27:56,200
Speaker 1: based nonprofit to reduce stigma around mental health. The program

496
00:27:56,240 --> 00:27:58,840
Speaker 1: comes about two years into a pandemic that handed Wall

497
00:27:58,840 --> 00:28:02,080
Speaker 1: Street firms a win fall amid a frenetic paste of

498
00:28:02,160 --> 00:28:05,760
Speaker 1: training and deal making, leading employees to complain about burnout.

499
00:28:06,240 --> 00:28:09,639
Speaker 1: Amtrak needs a better management plan to avoid further delays

500
00:28:09,680 --> 00:28:13,560
Speaker 1: in the Gateway project, aimed at alleviating rail congestion between

501
00:28:13,600 --> 00:28:16,360
Speaker 1: New York and New Jersey. That's according to the company's

502
00:28:16,359 --> 00:28:21,720
Speaker 1: Office of Inspector General, which cites challenges and handling personnel needs, communications,

503
00:28:21,960 --> 00:28:25,480
Speaker 1: and assessing broader risks for the project. Rock salt is

504
00:28:25,520 --> 00:28:28,240
Speaker 1: tough to come by in eastern Connecticut after a local

505
00:28:28,280 --> 00:28:32,040
Speaker 1: New London supplier closed. The company d r v N

506
00:28:32,520 --> 00:28:35,399
Speaker 1: left its location at State Pier because the area is

507
00:28:35,440 --> 00:28:38,600
Speaker 1: being redeveloped into a hub for the offshore wind industry.

508
00:28:39,080 --> 00:28:42,600
Speaker 1: Are Bloomberg try State Business Report. I'm Ed Corey. Thanks

509
00:28:42,640 --> 00:28:44,880
Speaker 1: that It's five thirty eight on Wall Street. Bloomberg Radio

510
00:28:44,960 --> 00:28:46,920
Speaker 1: is on the air from San Francisco to New York,

511
00:28:46,960 --> 00:28:49,479
Speaker 1: London to Hong Kong. Let's check in with our global

512
00:28:49,480 --> 00:28:51,280
Speaker 1: news team for some of the top stories heard on

513
00:28:51,320 --> 00:28:57,920
Speaker 1: our three hundred affiliate radio stations around the world. I'm

514
00:28:57,960 --> 00:29:01,040
Speaker 1: Steve Potaskan on ten ten Ways in New York. We're

515
00:29:01,080 --> 00:29:04,440
Speaker 1: talking about how many more people need to start saving

516
00:29:04,440 --> 00:29:07,440
Speaker 1: for that rainy day, according to a new service. I'm

517
00:29:07,520 --> 00:29:11,160
Speaker 1: Corney Tannahall on Cafe bian Omaha, Farm productex Sports hit

518
00:29:11,160 --> 00:29:14,360
Speaker 1: a record one hundred seventy seven billion dollars last year.

519
00:29:14,600 --> 00:29:17,200
Speaker 1: I'm calain Head Gold Bloom and Davey Digital Radio and

520
00:29:17,280 --> 00:29:20,040
Speaker 1: London work putting on the warning from Charlie Bean and

521
00:29:20,040 --> 00:29:23,479
Speaker 1: Andrew Tyree to the Bank of England's independence is at

522
00:29:23,600 --> 00:29:26,920
Speaker 1: risk if Treasury changes part of its funding models. I

523
00:29:27,040 --> 00:29:29,920
Speaker 1: did couring on w w J and Detroit. I'm reporting

524
00:29:30,000 --> 00:29:33,960
Speaker 1: an auto parts maker says road tests deporter crossings between

525
00:29:34,000 --> 00:29:36,680
Speaker 1: the US and Canada could bring the auto industry to

526
00:29:36,840 --> 00:29:40,240
Speaker 1: US reaches Holden about two days. Those are some of

527
00:29:40,240 --> 00:29:43,200
Speaker 1: the stories our twenty seven hundred Bloomberg journalists and analysts

528
00:29:43,200 --> 00:29:45,640
Speaker 1: are working on this morning around the world. It's five

529
00:29:45,680 --> 00:29:48,920
Speaker 1: thirty nine on Wall Street. The following is an editorial

530
00:29:49,040 --> 00:29:53,800
Speaker 1: from Bloomberg Opinion. Four states, Connecticut, Delaware, New Jersey, and

531
00:29:53,800 --> 00:29:57,680
Speaker 1: Oregon have recently announced plans to end mask mandates in

532
00:29:57,760 --> 00:30:01,600
Speaker 1: K through twelve schools. Others may soon follow suit. It's

533
00:30:01,600 --> 00:30:05,440
Speaker 1: about time to be clear. There's evidence that masks have

534
00:30:05,640 --> 00:30:10,080
Speaker 1: been useful in blocking COVID infections in educational settings, but

535
00:30:10,160 --> 00:30:13,200
Speaker 1: there are also worrying signs that they impose costs on

536
00:30:13,320 --> 00:30:18,080
Speaker 1: children's social development. With case numbers dropping, it's reasonable to

537
00:30:18,120 --> 00:30:22,200
Speaker 1: recalculate the balance between the protection masks provide and the

538
00:30:22,240 --> 00:30:26,320
Speaker 1: difficulties they impose. In doing so, it pays to remember

539
00:30:26,360 --> 00:30:29,680
Speaker 1: that school aged children have a relatively low risk of

540
00:30:29,720 --> 00:30:35,440
Speaker 1: hospitalization and death from COVID, especially if they're vaccinated. For now,

541
00:30:35,680 --> 00:30:39,680
Speaker 1: and unless COVID resurges in some new form, the potential

542
00:30:39,760 --> 00:30:44,000
Speaker 1: harm caused by masks seems to outweigh the benefits. States

543
00:30:44,000 --> 00:30:48,920
Speaker 1: and school districts should rethink their policies accordingly. This editorial

544
00:30:49,000 --> 00:30:52,280
Speaker 1: was written by the Bloomberg Opinion Editorial Board. I'm David Shipley.

545
00:30:52,360 --> 00:30:54,960
Speaker 1: For more Bloomberg opinion, please go to Bloomberg dot com,

546
00:30:55,200 --> 00:30:58,880
Speaker 1: slash opinion or ope and go on the Bloomberg Terminal.

547
00:30:59,120 --> 00:31:02,240
Speaker 1: Vase has been Bloomberg Opinion, and you can hear Bloomberg

548
00:31:02,240 --> 00:31:05,960
Speaker 1: opinion editorials every weekday. At this time, terminal customers can

549
00:31:06,000 --> 00:31:09,320
Speaker 1: read more at O P I N GO SMP futures

550
00:31:09,360 --> 00:31:11,720
Speaker 1: up thirty two points now futures up a D ninety

551
00:31:11,760 --> 00:31:14,280
Speaker 1: seven nanstack. Futures are hired by a hundred thirty nine

552
00:31:14,280 --> 00:31:17,840
Speaker 1: points in the tenure treasury yield one nine to per cent.

553
00:31:18,080 --> 00:31:24,720
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather mostly sunny today,

554
00:31:24,800 --> 00:31:27,080
Speaker 1: low forties, will be in the upper forties under appartly

555
00:31:27,120 --> 00:31:28,840
Speaker 1: the mostly sunny sky and will have a mix of

556
00:31:28,880 --> 00:31:31,600
Speaker 1: sunning clouds by Friday, with highs again in the upper forties.

557
00:31:31,920 --> 00:31:37,960
Speaker 1: Right now, it's thirty and clear in Central Park markets.

558
00:31:38,040 --> 00:31:41,120
Speaker 1: Headlines and breaking news twenty four hours a day at

559
00:31:41,160 --> 00:31:44,560
Speaker 1: Bloomberg dot com, the Bloomberg Business Out and at Bloomberg

560
00:31:44,640 --> 00:31:54,560
Speaker 1: Quicktape He's a Bloomberg business flash and I'm tem in Moscow.

561
00:31:54,720 --> 00:31:57,360
Speaker 1: US dot Index futures on the rise this morning and

562
00:31:57,400 --> 00:32:00,600
Speaker 1: a sell off in sovereign bonds pausing bring some relief

563
00:32:00,640 --> 00:32:02,840
Speaker 1: for markets that are whips on in recent weeks by

564
00:32:02,880 --> 00:32:06,120
Speaker 1: concerns about tightening monetary policy. We checked the markets every

565
00:32:06,160 --> 00:32:09,040
Speaker 1: fifteen minutes throughout the trading day on bloomberg S and

566
00:32:09,080 --> 00:32:11,479
Speaker 1: P futures up thirty two points down, futures up two

567
00:32:11,520 --> 00:32:13,920
Speaker 1: hundred two, NAS day futures up a hundred thirty eight

568
00:32:14,240 --> 00:32:16,560
Speaker 1: and the decks in Germany's up one point six percent.

569
00:32:16,640 --> 00:32:18,840
Speaker 1: Attend your treasury up ten thirty seconds. You at one

570
00:32:19,160 --> 00:32:21,440
Speaker 1: nine two per cent yield on the two year one

571
00:32:21,480 --> 00:32:24,400
Speaker 1: point three two percent. Nine x screwed oils down half

572
00:32:24,400 --> 00:32:27,000
Speaker 1: percent or forty one cents at eighty eight dollars ninety

573
00:32:27,040 --> 00:32:29,720
Speaker 1: six cents a barrel. Comic school Lit'll change at eighteen

574
00:32:29,760 --> 00:32:32,800
Speaker 1: twenty seven eighty announced the euro one point one four

575
00:32:32,920 --> 00:32:35,200
Speaker 1: three nine against the dollar, British found one point three

576
00:32:35,280 --> 00:32:37,840
Speaker 1: five eight two, the ens at one fifteen point four

577
00:32:38,040 --> 00:32:41,520
Speaker 1: six and Bitcoin this morning moving lower at forty three thousand,

578
00:32:41,560 --> 00:32:44,520
Speaker 1: five hundred sixty dollars. And that's a Bloomberg. US is flashdown.

579
00:32:44,520 --> 00:32:47,360
Speaker 1: Here's Michael bar with more unless going on around the world.

580
00:32:47,440 --> 00:32:50,680
Speaker 1: Michael Karen, thank you very much. Protest here's blocking traffic

581
00:32:50,760 --> 00:32:54,680
Speaker 1: between the US and Canada to oppose vaccine rules are

582
00:32:54,720 --> 00:32:58,600
Speaker 1: further stretching of thin auto supplied chain. Protesters also traffic

583
00:32:58,640 --> 00:33:02,560
Speaker 1: at the Ambassador Bridge that connects Windsor, Ontario, to Detroit.

584
00:33:02,920 --> 00:33:06,400
Speaker 1: It is the busiest borderlink for goods moving between Canada

585
00:33:06,520 --> 00:33:09,680
Speaker 1: and the US. New York and Illinois will lay out

586
00:33:09,720 --> 00:33:14,240
Speaker 1: plans today to phase out some mask mandates. Lindsay Jacobellis

587
00:33:14,280 --> 00:33:17,240
Speaker 1: captured America's first gold medal of the Beijing Olympics in

588
00:33:17,280 --> 00:33:20,280
Speaker 1: the snowboard cross final. The US has a total of

589
00:33:20,320 --> 00:33:24,080
Speaker 1: seven medals, including five silvers. NBA Action the next loss.

590
00:33:24,120 --> 00:33:28,720
Speaker 1: The Celtics beat the Nets on the NHL. The Devil's won,

591
00:33:28,760 --> 00:33:32,440
Speaker 1: the Bruins and Capitols lost. Global News twenty four hours

592
00:33:32,440 --> 00:33:35,640
Speaker 1: a day on air and on Bloomberg Quickdake, powered by

593
00:33:35,720 --> 00:33:38,800
Speaker 1: more than twenty seven under journalist and analysts in more

594
00:33:38,800 --> 00:33:43,240
Speaker 1: than one twenty countries. Michael var and this is Bloomberg, Nathan. Okay, Michael,

595
00:33:43,240 --> 00:33:45,040
Speaker 1: thanks for coming up to five forty nine on Wall

596
00:33:45,080 --> 00:33:48,000
Speaker 1: Street Live from the Bloomberg Interactive Brokers Studios. This is

597
00:33:48,000 --> 00:33:50,200
Speaker 1: Bloomberg Daybreak. We want to get more now on the

598
00:33:50,240 --> 00:33:54,160
Speaker 1: pandemic with these trucker protests continuing and mask mandates being lifted.

599
00:33:54,240 --> 00:33:56,960
Speaker 1: Dr Stewart Ray is with us now Vice Chair of

600
00:33:57,000 --> 00:34:00,200
Speaker 1: Medicine at the Johns Hopkins University School of Medicine. Actor.

601
00:34:00,200 --> 00:34:01,960
Speaker 1: It's good to have you with us as always. I

602
00:34:02,080 --> 00:34:04,960
Speaker 1: just saw a headline cross of Johns Hopkins data showing

603
00:34:04,960 --> 00:34:08,600
Speaker 1: that the world has surpassed four hundred million known coronavirus

604
00:34:08,680 --> 00:34:11,719
Speaker 1: cases as of yesterday. Just a month ago, we were

605
00:34:11,760 --> 00:34:14,520
Speaker 1: at three hundred million around the world. I guess if

606
00:34:14,520 --> 00:34:17,759
Speaker 1: nothing else, it says just how dramatic the spread of

607
00:34:17,760 --> 00:34:22,120
Speaker 1: oh macron has been Yes, it's a scale at which

608
00:34:22,160 --> 00:34:24,120
Speaker 1: I don't think any of us could have imagined two

609
00:34:24,160 --> 00:34:28,160
Speaker 1: years ago. It's really come across the world, and of

610
00:34:28,200 --> 00:34:32,279
Speaker 1: course there's likely undercounting of cases. So going forward, it's

611
00:34:32,320 --> 00:34:35,200
Speaker 1: going to be uh interesting to see how we face this.

612
00:34:35,680 --> 00:34:39,120
Speaker 1: And it's been interesting as well to see the push

613
00:34:39,360 --> 00:34:42,279
Speaker 1: in a number of states, particularly in the Northeast, to

614
00:34:42,400 --> 00:34:46,480
Speaker 1: ease up on public health restrictions the mask mandates that

615
00:34:46,600 --> 00:34:49,280
Speaker 1: sort of thing, even as we are seeing this dramatic

616
00:34:49,440 --> 00:34:53,800
Speaker 1: rise in case counts from a public health perspective. What's

617
00:34:53,840 --> 00:34:57,319
Speaker 1: the view on that in terms of easing up on

618
00:34:57,760 --> 00:35:02,280
Speaker 1: mask mandates. Well, I think we all recognize that folks

619
00:35:02,280 --> 00:35:06,680
Speaker 1: are exhausted, and I don't think that if we were

620
00:35:06,719 --> 00:35:11,520
Speaker 1: starting out now with deaths a day or more that

621
00:35:12,280 --> 00:35:16,520
Speaker 1: we would be accepting the current situation is as acceptable.

622
00:35:16,520 --> 00:35:18,400
Speaker 1: But I think I was also a big part of

623
00:35:18,440 --> 00:35:22,680
Speaker 1: this is that mandates or not, people really should be

624
00:35:22,719 --> 00:35:25,600
Speaker 1: thinking about how effective masks are in the reality that

625
00:35:26,080 --> 00:35:28,279
Speaker 1: we need to limit spread of this virus. It's a

626
00:35:28,320 --> 00:35:31,280
Speaker 1: shame that mandates are the big conversation when it should

627
00:35:31,440 --> 00:35:33,759
Speaker 1: just be the sensible to wear a mask. And that's

628
00:35:33,400 --> 00:35:35,279
Speaker 1: where really where we need to get And if we

629
00:35:35,320 --> 00:35:39,480
Speaker 1: can duh politicize the wearing the masks and just wear

630
00:35:39,520 --> 00:35:43,120
Speaker 1: them when rates are high, that would be really helpful. Well,

631
00:35:43,120 --> 00:35:45,600
Speaker 1: there has been some mixed messaging, hasn't there about the

632
00:35:45,640 --> 00:35:48,920
Speaker 1: effectiveness of masks, whether it's cloth masks or kN ninety

633
00:35:48,960 --> 00:35:54,319
Speaker 1: five or ninety five. In terms of that, can you

634
00:35:54,360 --> 00:35:57,520
Speaker 1: provide a little more clarity about the type of mask

635
00:35:57,600 --> 00:36:01,000
Speaker 1: that works well and why people should be wearing masks

636
00:36:01,040 --> 00:36:05,400
Speaker 1: even if they're fully vaccinated and boosted. Well, certainly have

637
00:36:05,440 --> 00:36:07,040
Speaker 1: the last two years we've learned a lot. And when

638
00:36:07,120 --> 00:36:10,120
Speaker 1: we started out, we didn't understand how important masks would be.

639
00:36:10,200 --> 00:36:14,120
Speaker 1: We didn't understand how important aerosolt transmission was. So now

640
00:36:14,120 --> 00:36:17,360
Speaker 1: that we have so much more information, it's very clear

641
00:36:17,440 --> 00:36:22,320
Speaker 1: that masks are very effective for limiting transmission of this virus,

642
00:36:22,400 --> 00:36:27,640
Speaker 1: and that cloth masks are, especially single layer cloth masks,

643
00:36:27,680 --> 00:36:33,280
Speaker 1: are very minimally effective, whereas UH what we call surgical masks,

644
00:36:33,440 --> 00:36:38,160
Speaker 1: those UH pleated masks that are handed out in healthcare establishments,

645
00:36:38,400 --> 00:36:43,160
Speaker 1: those are actually remarkably effective. It is true that UH

646
00:36:43,280 --> 00:36:46,479
Speaker 1: in ninety five, KLF ninety four, kf K KID ninety

647
00:36:46,560 --> 00:36:50,880
Speaker 1: five masks. Respirator masks are more effective when worn properly.

648
00:36:50,920 --> 00:36:53,120
Speaker 1: But the big thing is that the mask that works

649
00:36:53,200 --> 00:36:55,360
Speaker 1: is the one that you that you wear well and

650
00:36:55,360 --> 00:36:58,320
Speaker 1: that you can actually keep on. I find that uh,

651
00:36:58,560 --> 00:37:01,439
Speaker 1: some of the other rest bry masks, like the KF

652
00:37:01,480 --> 00:37:04,040
Speaker 1: ninety four's and K ninety fives are more comfortable to

653
00:37:04,040 --> 00:37:06,960
Speaker 1: wear for long periods of time when I'm out moving

654
00:37:06,960 --> 00:37:10,200
Speaker 1: around in businesses and things like that. Those are very

655
00:37:10,280 --> 00:37:14,959
Speaker 1: highly effective, probably a little more effective than the searchable masks,

656
00:37:15,000 --> 00:37:18,280
Speaker 1: but only if worn well. And so I think people

657
00:37:18,360 --> 00:37:22,000
Speaker 1: just need to try to find one that that is

658
00:37:22,040 --> 00:37:24,840
Speaker 1: comfortable for them and where it. I only have about

659
00:37:24,840 --> 00:37:26,719
Speaker 1: thirty seconds left here, but I want to get your

660
00:37:26,760 --> 00:37:29,399
Speaker 1: thoughts on these trucker protests have been going on north

661
00:37:29,440 --> 00:37:32,320
Speaker 1: of the border for nearly two weeks now. Do those

662
00:37:32,400 --> 00:37:39,120
Speaker 1: have an effect on the public health? Well, I think they.

663
00:37:39,239 --> 00:37:43,920
Speaker 1: When people protest mass mandates, it further divides us on

664
00:37:45,000 --> 00:37:48,560
Speaker 1: the wearer the masks. And I hope that folks look

665
00:37:48,600 --> 00:37:53,080
Speaker 1: at those as uh struggles around the political divisions and

666
00:37:53,160 --> 00:37:56,279
Speaker 1: not about the ethcausey of masks. And if we can

667
00:37:56,360 --> 00:38:00,120
Speaker 1: just uh where these I think that I don't know

668
00:38:00,160 --> 00:38:02,839
Speaker 1: whether there are crowdy issues around the protests. I don't

669
00:38:02,840 --> 00:38:06,239
Speaker 1: know if they in themselves are spreading events, but we

670
00:38:06,360 --> 00:38:08,880
Speaker 1: do need to try to get past this notion that

671
00:38:08,960 --> 00:38:12,520
Speaker 1: there's a battle overmasking. Uh. And I'm not sure exactly

672
00:38:12,520 --> 00:38:15,440
Speaker 1: at a policy level, but the best way to communicate

673
00:38:15,480 --> 00:38:17,799
Speaker 1: about that is all right. We was always thank you

674
00:38:17,840 --> 00:38:20,440
Speaker 1: for your insights, Dr Ray. Dr Stewart Ray from the

675
00:38:20,640 --> 00:38:23,799
Speaker 1: Johns Hopkins University School of Medicine, where he is Vice

676
00:38:23,880 --> 00:38:27,799
Speaker 1: Chair of Medicine. Karen Nathan, it is fifty three on

677
00:38:27,880 --> 00:38:30,239
Speaker 1: Wall Street. Time for the Bloomberg Law Report. Let's get

678
00:38:30,239 --> 00:38:33,080
Speaker 1: to the legal stories we're watching this morning. From Bloomberg's

679
00:38:33,120 --> 00:38:38,960
Speaker 1: Jeff Bellinger. The page and seizure drug gave Penton is

680
00:38:39,040 --> 00:38:41,880
Speaker 1: under fire for its alleged role in the overdose crisis.

681
00:38:42,040 --> 00:38:45,400
Speaker 1: A consumer advocacy group is urging the government to classify

682
00:38:45,480 --> 00:38:49,120
Speaker 1: the prescription drug as a controlled substance. American Airlines is

683
00:38:49,160 --> 00:38:51,880
Speaker 1: being sued in federal court in Chicago. The carrier is

684
00:38:51,920 --> 00:38:55,719
Speaker 1: accused of failing to properly compensate hourly paid employees for

685
00:38:55,880 --> 00:38:59,080
Speaker 1: time spent on mandatory training. General Motors was sued in

686
00:38:59,120 --> 00:39:02,960
Speaker 1: Michigan federal court, a former employee says g MSN's legally

687
00:39:03,120 --> 00:39:06,200
Speaker 1: deficient notices and forming former workers of the right to

688
00:39:06,280 --> 00:39:10,360
Speaker 1: remain on the company health plan. Bloomberg Law everything you need,

689
00:39:10,560 --> 00:39:14,920
Speaker 1: all on one legal research platform, including guidance analysis and

690
00:39:15,000 --> 00:39:20,239
Speaker 1: Bloomberg market intelligence. Find out more at Bloomberg law dot com.

691
00:39:20,280 --> 00:39:22,920
Speaker 1: Thanks Jeff. Now, another legal story we're watching brings us

692
00:39:22,920 --> 00:39:26,560
Speaker 1: to former Alaska governor and vice presidential candidate Sarah Palin.

693
00:39:26,680 --> 00:39:29,000
Speaker 1: She claims The New York Times hurt her reputation with

694
00:39:29,040 --> 00:39:32,239
Speaker 1: a twenty seventeen opinion piece that tried to tie her

695
00:39:32,280 --> 00:39:36,120
Speaker 1: political rhetoric to a deadly shooting. The Times admits and

696
00:39:36,200 --> 00:39:38,640
Speaker 1: made a mistake, but says it corrected the story within

697
00:39:38,719 --> 00:39:41,520
Speaker 1: twelve hours. Now, a New York jury will decide at

698
00:39:41,520 --> 00:39:44,360
Speaker 1: the Times is guilty of defaming Palin. For more in

699
00:39:44,360 --> 00:39:47,600
Speaker 1: the case, Bloomberg joing Grosso speaks to Godam Hans, professor

700
00:39:47,640 --> 00:39:51,400
Speaker 1: at Vanderbilt Lot School, the Times hasn't lost a defamation

701
00:39:51,520 --> 00:39:55,239
Speaker 1: case in more than half a century, So is that

702
00:39:55,440 --> 00:39:59,480
Speaker 1: a very high bar for plaintiffs to get over? Yes,

703
00:40:00,280 --> 00:40:06,360
Speaker 1: very difficult for plaintiffs to prevail in defamation cases, particularly

704
00:40:06,440 --> 00:40:10,279
Speaker 1: when they're public officials like Sarah Palin because of the

705
00:40:10,320 --> 00:40:14,160
Speaker 1: Supreme Court's decisions dating back to the Sullivan case from

706
00:40:14,360 --> 00:40:17,880
Speaker 1: the early sixties. That's why, as you noted, the Times

707
00:40:17,920 --> 00:40:21,600
Speaker 1: says frequently prevailed as it offended. In such cases, the

708
00:40:21,680 --> 00:40:24,600
Speaker 1: Times argue that it was an honest mistake and that

709
00:40:24,680 --> 00:40:28,520
Speaker 1: it corrected the errors in about twelve hours. Is that

710
00:40:28,600 --> 00:40:32,200
Speaker 1: a good defense under the Sullivan standard? Yeah. I think

711
00:40:32,200 --> 00:40:35,839
Speaker 1: that's the strong point in the Times of favor, that

712
00:40:36,040 --> 00:40:41,600
Speaker 1: they acted expeditiously, relatively speaking, to correct it. I think

713
00:40:41,800 --> 00:40:44,399
Speaker 1: that the plaintiffs, Tara Palin and her legal team would

714
00:40:44,400 --> 00:40:47,800
Speaker 1: probably note that twelve hours and a digital ECO system

715
00:40:47,920 --> 00:40:51,360
Speaker 1: is like twelve days in the past, and that's maybe

716
00:40:51,400 --> 00:40:55,960
Speaker 1: part of why they think that Sullivan doesn't work well

717
00:40:56,120 --> 00:40:59,839
Speaker 1: in today's media landscape because of the seleration of the

718
00:41:00,000 --> 00:41:02,560
Speaker 1: I'm horizon. But you know, that's not part of the

719
00:41:02,680 --> 00:41:05,600
Speaker 1: current standard under the law. Perhaps it might be if

720
00:41:05,640 --> 00:41:09,319
Speaker 1: that's where it goes on appeal. If Palin loses here,

721
00:41:09,760 --> 00:41:13,520
Speaker 1: what does Supreme Court take this case? I think it's

722
00:41:13,520 --> 00:41:16,960
Speaker 1: hard to say. I do think that Palin and her

723
00:41:17,040 --> 00:41:20,200
Speaker 1: legal team realize that it's going to be difficult for

724
00:41:20,280 --> 00:41:23,399
Speaker 1: them to win under the current law. Sometimes people bring

725
00:41:23,480 --> 00:41:26,799
Speaker 1: cases thinking that, well, maybe we'll lose at the trial level,

726
00:41:26,880 --> 00:41:29,560
Speaker 1: maybe we'll even lose at the appellate court level, but

727
00:41:29,640 --> 00:41:32,400
Speaker 1: we're going to aim for the Supreme Court, so we

728
00:41:32,440 --> 00:41:34,680
Speaker 1: can try to get the change to the law from

729
00:41:34,680 --> 00:41:37,719
Speaker 1: the Supreme Court. And I think in this case that's

730
00:41:37,760 --> 00:41:42,040
Speaker 1: not a wild bet to make, because at least two

731
00:41:42,080 --> 00:41:46,960
Speaker 1: Supreme Court justices have some concerns about the precedent from

732
00:41:46,960 --> 00:41:50,840
Speaker 1: the sellative case. Both Justices Clarence Thomas and Neal Courses

733
00:41:51,040 --> 00:41:55,480
Speaker 1: have made written statements saying that the Sullivan precedent and

734
00:41:55,640 --> 00:42:00,120
Speaker 1: potentially the actual malice standard need to be revisited or

735
00:42:00,120 --> 00:42:03,800
Speaker 1: should be revisited by the Supreme Court. So it takes

736
00:42:03,880 --> 00:42:06,920
Speaker 1: four votes on the Supreme Court to grant sir ser

737
00:42:07,000 --> 00:42:10,480
Speaker 1: ari for review of a case, and we know there

738
00:42:10,480 --> 00:42:13,840
Speaker 1: are possibly two, So that's halfway there. I think the

739
00:42:13,880 --> 00:42:18,080
Speaker 1: possibility that there are another two, it's certainly conceivable to me.

740
00:42:18,560 --> 00:42:21,800
Speaker 1: And as Vanderbilt the law professor Godam Hans speaking with

741
00:42:21,840 --> 00:42:24,520
Speaker 1: the Bloomberg student Grosso. Okay, it's more of that interview

742
00:42:24,600 --> 00:42:27,520
Speaker 1: plus analysis of the latest legal news by subscribing to

743
00:42:27,560 --> 00:42:30,640
Speaker 1: the Bloomberg Law podcast or downloading the show at Bloomberg

744
00:42:30,680 --> 00:42:34,440
Speaker 1: dot com, slash podcast. Attorneys can find exceptional legal research

745
00:42:34,480 --> 00:42:37,480
Speaker 1: and business development tools at Bloomberg law dot com and

746
00:42:37,520 --> 00:42:41,520
Speaker 1: at the Bloomberg terminal at v law, Go and futures.

747
00:42:41,520 --> 00:42:45,080
Speaker 1: This morning on the Rise, Our top stories are straight

748
00:42:45,120 --> 00:42:48,320
Speaker 1: ahead as Bloomberg day Break continues. This is Bloomberg