Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg
Speaker 1: day Break for Wednesday, June fifty two. Coming up this hour,
Speaker 1: the ECB holds an emergency meeting to discuss market conditions.
Speaker 1: The debate heats up on whether the Fed will hike
Speaker 1: fifty or seventy five basis points today. Let sell off
Speaker 1: in crypto continues as bitcoin drops to twenty thousand and
Speaker 1: President Biden takes same at oil refiners record profits. Gas
Speaker 1: bump prices in the New York metro area had a
Speaker 1: fresh record plus. But look at Trump backed candidates in
Speaker 1: the latest GOP primaries. I'm Michael blah More ahead, I'm
Speaker 1: John Stash and sports shutout wins at home for both
Speaker 1: the Mets and Yankees, a near no hither in St.
Speaker 1: Louis the Stanley Cup. Parnel begins. That's all s traded
Speaker 1: ahead on Bloomberg Daybreak on Bloomberg eleven three on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Sirius XM one nineteen and
Speaker 1: around the world Old on Bloomberg Radio dot Com and
Speaker 1: by the Bloomberg Business App. Good morning. I'm John Tucker,
Speaker 1: I'm Nathan Hagar. Futures are on the rise this morning
Speaker 1: or coming up to six oh one on Wall Street,
Speaker 1: and we checked the markets every fifteen minutes during the
Speaker 1: training day. On Bloomberg. Sp Future is up twenty points.
Speaker 1: Staff futures up a hundred forty Nastact futures hired by
Speaker 1: eighty two points. The docks in Germany up one up
Speaker 1: one point two percent, when the cat in Paris is
Speaker 1: hired by one percent ten Your treasury is up thirty seconds.
Speaker 1: The yield three point three eight percent, yield on the
Speaker 1: two year three point three two percent. The euro right
Speaker 1: now at one point zero four nine two against the dollar.
Speaker 1: John and Nathan, we begin at Europe, where it's all
Speaker 1: about the European Central Bank, the ECB's governing Council holding
Speaker 1: an impromptu meeting to quote discussed current market conditions. Let's
Speaker 1: get more from Bloomberg Markets Live, Edler Locker, Roach Kelly.
Speaker 1: DCB meeting is more based about happening markets at home
Speaker 1: to howl, I'm spreads of boidened, how it neils have
Speaker 1: moved out and what the market actually the last three
Speaker 1: or four days has been I'm not going to sure
Speaker 1: it's going to come over use. I think it's strange
Speaker 1: that the space hold interactional meeting before the FED decision
Speaker 1: plume they don't know what the Fed dicisition is good
Speaker 1: to beat themselves, but the factor having to be in
Speaker 1: at all. Jerry Market saying that is at least somewhat
Speaker 1: positive for euro Asset, Bloomberg's Locker and Roach Kelly's Italian
Speaker 1: bonds have surged on the notes of the unscheduled meeting.
Speaker 1: ECB officials may decide to reinvest bond purchases conducted under
Speaker 1: the bank's Pandemic Emergency Program. Other measures could be considered
Speaker 1: as well. The meeting expanded at last about two hours. Well.
Speaker 1: As this meeting continues, John, we are awaiting a highly
Speaker 1: anticipated Federal Reserve decision. Question there is how much J.
Speaker 1: Powell and Company high grades. Michael McKee has more from
Speaker 1: our Bloomberg newsroom in Washington. The newmarket consensus is the
Speaker 1: FED will raise the benchmark US lending rate by seventy
Speaker 1: five basis points, the biggest increase since nine That raises
Speaker 1: the question of what next markets have already priced in
Speaker 1: another seventy five basis point move in July. Investors will
Speaker 1: look to the dot plot rate forecast and Chairman j
Speaker 1: Pal's news conference for a ratification of that bet. A
Speaker 1: new median forecast for unemployment of proxy for growth may
Speaker 1: suggest whether the central bankers still think they can bring
Speaker 1: down inflation without causing a recession. Michael McKee Bloomberg, Gay break,
Speaker 1: all right, thanks Mike? Will it be fifty or seventy
Speaker 1: five basis points summer? Calling for more? Pershing Square founder
Speaker 1: Bill Ackman's is how the basis point hyke? Who would
Speaker 1: be better? The story from Bloomberg's Charlie Pellett. Ackman says
Speaker 1: not just today, but in July and thereafter. Instead of
Speaker 1: the seventy five basis point hike that some economists are expecting,
Speaker 1: he said the central bank has allowed inflation to quote
Speaker 1: get out of control and calls for aggressive action that
Speaker 1: would help restore market confidence. Writing on Twitter, Ackman said, quote,
Speaker 1: the sooner the Federal Reserve can get to a terminal
Speaker 1: FF rate and thereafter can begin to ease, the sooner
Speaker 1: the markets can recover. In New York Charlie pe Bloomberg Daybreak,
Speaker 1: al right, Charlie thanks. Jeffrey Gunlocks taking an even more
Speaker 1: aggressive stance than Bill Ackman. The Double Line Capital CEO
Speaker 1: says the Fed should raise its target interest right to
Speaker 1: three percent today. That would be a two hundred basis
Speaker 1: point hike. But markets are still firmly pricing in seventy
Speaker 1: and stay tuned for a complete coverage of this critical
Speaker 1: fin decision on a special edition of Bloomberg Surveillance that
Speaker 1: is coming up at one on Wall Street time on Booth,
Speaker 1: Bloomberg Radio and television. Head of that decision, we get
Speaker 1: the main reading on retail sales. The economy is forecast
Speaker 1: a game of just one tenth of a percent. Well,
Speaker 1: as we mentioned, John Us futures are hired to start
Speaker 1: this morning. Still, the SMP closed down yesterday for a
Speaker 1: fifth straight session. That's its longest flight since January. Mark Lassie,
Speaker 1: CEO of Avenue Capital Management and co owner of the
Speaker 1: Milwaukee Bucks, says week economic sentiment continues to weigh on
Speaker 1: this market. Everybody knows where either getting into a recession
Speaker 1: or it's going to be close to a recession. So um,
Speaker 1: I don't think there's a lot more negative news that's
Speaker 1: gonna come out. You know, the question really is going
Speaker 1: to be? How long is the recession? Is it three months?
Speaker 1: Is at six months? Is it a year? I have
Speaker 1: a new Capital CEO Mark Lazarie says he thinks the
Speaker 1: upcoming recession will be short. Well, perhaps no sector has
Speaker 1: suffered in the sell off as much as cryptocurrencies, and
Speaker 1: Bitcoin is lower again this morning as it approaches the
Speaker 1: twenty thousand level. Let's get the latest life from Bloomberg's
Speaker 1: Ready Too Young Real, Good morning, Good morning John. Cryptocurrencies
Speaker 1: have become emblematic of a flight from speculative assets strategies
Speaker 1: that Glass notes say. The bear market for bitcoin has
Speaker 1: entered its deepest and darkest phase. Crypto lenders Celsius froze
Speaker 1: withdrawals on Monday. Coin Based announced widespread laidoffs on Tuesday,
Speaker 1: and this all comes just a month after the collapse
Speaker 1: of the terror USD stable coin royal crypto markets. Meantime,
Speaker 1: Bill Gates is dismissing crypto projects like n f t
Speaker 1: S as shams, saying they're quote based on the greater
Speaker 1: fool theory. He spoke at a climate conference yesterday and
Speaker 1: says he's neither long nor short. The asset class live
Speaker 1: in New York I'm rened a young Bloomberg Daybreak. Now,
Speaker 1: we need to thank you as crypto falls, oil prices
Speaker 1: remain sky high, and the pain at the pump is palpable,
Speaker 1: and President Biden is looking to ease the strain. We're
Speaker 1: learning the Energy Department plans to sell up to forty
Speaker 1: five million barrels from the Strategic Petroleum Reserve. Amy Morris
Speaker 1: has more from our Bloomberg newsroom. In Washington, President Biden
Speaker 1: told oil refiners that unprecedented profit margins are unacceptable. He's
Speaker 1: calling for immediate action to improve capacity. He's ordered Energy
Speaker 1: Secretary Jennifer Granhelm to hold an emergency meeting on the
Speaker 1: subject in the coming days, and the administration will hold
Speaker 1: talks with the National Petroleum Council. And he's calling on
Speaker 1: companies to explain why they've cut capacity. More than a
Speaker 1: million barrels a day of US oil refining capacity, about
Speaker 1: five of the total, has been shut since the start
Speaker 1: of the pandemic in Washington. I'm any Morris, Bloomberg Daybreak.
Speaker 1: All right, thanks to me and NIMEX crude right now
Speaker 1: out of dollars sixty seven of barrel at one seventeen
Speaker 1: six and I head of today's FED meeting. The NASDAIC
Speaker 1: futures right now up sixties six points SMP futures, they're
Speaker 1: up seventeen at the down futures one hundred and sixteen
Speaker 1: points higher. You're listening to Bloomberg Daybreak. That's now six
Speaker 1: o seven on Wall Street. Let's bringing Michael Barne out
Speaker 1: to find out what else is going on to New
Speaker 1: York hand around the world, John, thank you very much.
Speaker 1: US Representative Tom Rice of South Carolina has been outed
Speaker 1: from Congress and his Republican primary after voting to impeach
Speaker 1: Donald Trump over the January sixth insurrection. Rice, who only
Speaker 1: got was defeated Tuesday by Trump back State Congressman Russell Fry,
Speaker 1: who received. Meanwhile, Representative Nancy Mace cleared the fifty percent
Speaker 1: threshold to avoid a runoff against Trump backed Katie Errington.
Speaker 1: New York City Mayor Eric Adams is going to Doris
Speaker 1: Governor Kathey Hocold in the New York governor's race. Hocal's
Speaker 1: campaign and Adam's political advice. You're confirmed that Adams will
Speaker 1: make the announcement today and a joint appearance with the
Speaker 1: Democratic governor in New York City. Adams endorsement comes as
Speaker 1: Hocal has pledged tougher action on gun crimes, including after
Speaker 1: the mass shooting in her hometown of Buffalo. Meanwhile, a
Speaker 1: month after the shooting at the Top supermarket store, survivors,
Speaker 1: their families and others gathered at the scene to mark
Speaker 1: the somber event. Buffalo Mayor Byron Brown words will never
Speaker 1: convey the heartbreak and pain the senseless tragedy has caused.
Speaker 1: Mayor Brown says. The shootings left ten people dead and
Speaker 1: three injured. Police in Suffolk County, New York, say at
Speaker 1: least fourteen school children were injured when an inflatable slide
Speaker 1: tipped over at a Long Island park. Some of the
Speaker 1: six and seven year olds were taken to the hospital,
Speaker 1: one with a broken leg. This seven year old is
Speaker 1: glad he wasn't hurt. There's people in the yeah, and
Speaker 1: didn't the thing over and some people got her and
Speaker 1: they went to the hospital. The statement from the Yan
Speaker 1: Dan's School District says the slide deflated while the kids
Speaker 1: were on it. Two police officers in El Monte, California,
Speaker 1: died in the line of duty. Authorities saying the two
Speaker 1: men were responding to a possible stabbing at a motel
Speaker 1: and were fired upon by the suspect. El Monty, Mayor
Speaker 1: Jessica and Kna. These men were dedicated to their careers
Speaker 1: and even more so as sons, husbands and fathers. Please
Speaker 1: keep their families in your prayers. Mayoron Kona says the
Speaker 1: suspect was also killed. Gas prices in the New York
Speaker 1: metro area I hit a fresh record according to Triple A.
Speaker 1: Prices rose to our record five twenty one a gallon
Speaker 1: overnight for the area and five fifty from Manhattan Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than journalists and analysts more
Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg, John, Michael,
Speaker 1: thank you. It's six ten wol Street Tamp. It's time
Speaker 1: for the Bloomberg Sports Update. Just Johnstown Show. Thanks John.
Speaker 1: Yankees and Mets. Two best records in baseball, both at home,
Speaker 1: both one with shutouts, and the Brons Garrett Cole's out
Speaker 1: in a whole lot better than one last week in Minnesota,
Speaker 1: when he allowed homebouns to the Twins first three batters
Speaker 1: and give up five overall, Cole worked out of a
Speaker 1: basis load of jam sixth inning that ended his night,
Speaker 1: preserved to shut out Yanks top Tampa Bay to not thing.
Speaker 1: Cole is six and one, and Clay Holmes got the
Speaker 1: same twenty seven straight appearances where Holmes is not allowed
Speaker 1: to run a city field was Chris Fassett eight scoreless,
Speaker 1: sitting is allowed just three hits of four nothing met
Speaker 1: went over in Milwaukee, two runs driven in by Pete
Speaker 1: Alonzo leads the National League with fifty nine RBIs and St.
Speaker 1: Louis the Cardinals, Miles Nicholas had nowhere with two outs,
Speaker 1: two strikes, ninth inning double by the Pirates. Cal Mitchell
Speaker 1: on Nicholas is a hundred and twenty ninth pitch most
Speaker 1: of the majors this season. They dropped puck on the
Speaker 1: Stanley Cup Final tonight in Denver. It's Tampa Bay lightning
Speaker 1: off the win over the Angels c q A. Stanley
Speaker 1: kept three peak game one with Colorado, who's twelve and
Speaker 1: two in the playoffs. Bruce Cassidy fired by the Bruins.
Speaker 1: He's the new coach of the Vegas Golden Night because
Speaker 1: Shaun Watson, formerly with Houston, now massive contractor quarterback to
Speaker 1: Cleveland Browns, and he's also facing twenty four accusations of
Speaker 1: sexual misconduct. Watson met the media in PLA. You know,
Speaker 1: I've been honest and I've been truthful about my stance. Um,
Speaker 1: and that's you know. I've never forced anyone, I never
Speaker 1: assaulted anyone. So um, that's what you know. I've been
Speaker 1: saying it from the beginning and I'm going to continue
Speaker 1: to do that and until all the facts come out
Speaker 1: on the legal sidefl has been investigating the matter, but
Speaker 1: still no word on a possible suspension. John Stash Atward
Speaker 1: bloom Bird Sports John, all right, thanks, John had ahead
Speaker 1: of the cashow up on Wall Street a hand of
Speaker 1: the FED meeting today. The down futures of one hundred
Speaker 1: twenty six points arise at four tens of a percent.
Speaker 1: The snp eat many futures, they're up nineteen right now,
Speaker 1: that's up half a percent, and the night was sad
Speaker 1: futures seventy two point higher, up six tenths of percent.
Speaker 1: You're listening to Bloomberg Daybreak. Day Break brought to you
Speaker 1: by Hofstra Universities Frank G. S Are School of Business,
Speaker 1: Top Rank Online mba program with a real world foundation
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Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business apt and at Bloomberg
Speaker 1: Quick Tape. This is a Bloomberg Business Flash. I'm Nathan Hagar.
Speaker 1: Futures are on the rise, along with stocks in Europe.
Speaker 1: As policymakers on both sides of the Atlantic grapple with
Speaker 1: soaring inflation, slowing growth, and volatile markets. We check the
Speaker 1: numbers for you every fifteen minutes during the training day
Speaker 1: on Bloomberg SMP futures are up seventeen points down futures
Speaker 1: up a hundred twelve dance Stack futures higher by seventy
Speaker 1: one points. Germany stacks at one point one percent. The
Speaker 1: cack in Paris is higher by nine tenths of one percent.
Speaker 1: The tenure Treasury is up twenty five thirty seconds with
Speaker 1: a yell three point three seven percent yield on the
Speaker 1: two year three point three one percent. Nim X screws
Speaker 1: down one point six percent, down a dollar eighty four,
Speaker 1: a hundred seventeen dollars eleven cents of barrel comax called
Speaker 1: of seven tenths percent or thirteen dollars twenty cents. At
Speaker 1: eighteen twenty six seventy announced the euro one point zero
Speaker 1: four seven eight against the dollar. The end one thirty
Speaker 1: four point four zero bitcoin right now trading around twenty
Speaker 1: four hundred fifty dollars. That's a Bloomberg business flash. And
Speaker 1: now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Nathan, thank you kindly. US Representative
Speaker 1: Tom Rice of South Carolina has been now stick in
Speaker 1: Congress and is a Republican primary after voting to impeach
Speaker 1: Donald Trump over the January sixth insurrection. The five term
Speaker 1: congressman was defeated Tuesday by state Representative Russell Fry, who
Speaker 1: was endorsed by Trump. Fry received fifty one percent. Well
Speaker 1: Ryce got Britney Grinder's attention in Russia was extended until
Speaker 1: July seco. The w NBA player is being held on
Speaker 1: charges of rug smuggling. The baseball scores the Yankees and
Speaker 1: Mets one, Red Sox beat the A six one Orioles
Speaker 1: and Giants were also winners. The Nationals lost Global News
Speaker 1: twenty four hours a day on here and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael barn
Speaker 1: This is Bloomberg, John, Michael, thank you. It is six
Speaker 1: twenty on Wall Street. We are live in the Bloomberg
Speaker 1: interranton Broker studios and busy is Bloomberg Daybreak. Wall Street
Speaker 1: firms expect the Federal Open Market Committee today to raise
Speaker 1: rates seventy five basis points. The Fed's gonna announce the
Speaker 1: decision published fresh forecast at two pm of Wall Street time.
Speaker 1: That'll be followed by a news conference by Chairman Jerome
Speaker 1: Powell and Bloomberg's Mike McKee. He's gonna be there and
Speaker 1: he'll try to stump the chairman. Today. Mike joins us
Speaker 1: now from Washington. Thanks you for being with us. You know,
Speaker 1: I'll start off with Europe, the European Central Bank, the
Speaker 1: policy makers there, Mike. They've managed to do the impossible,
Speaker 1: making FED policy look simple. Yes. Unfortunately for Christine Le
Speaker 1: guard Um it is much more difficult for her because
Speaker 1: she has nineteen countries in the Eurozone and at this
Speaker 1: point Um they are all in different economic circumstances, particularly
Speaker 1: Italy and the idea that the ECB had to raise
Speaker 1: rates quickly to get a handle on inflation, which is
Speaker 1: over eight percent there as well. UH lead to a
Speaker 1: blow out in Italian spreads. In particular, Italy the world's
Speaker 1: fourth largest bond market, and they also have a significant
Speaker 1: UM amount of their own debt and so UM trying
Speaker 1: to keep that spread from from widening even further. They're
Speaker 1: trying to figure out what to do. Okay, they might
Speaker 1: even head back to pandemic policy with the extraordinary stimulus. UH,
Speaker 1: the United States is nowhere near that, right, No, we're not. UM.
Speaker 1: There's a belief out there that perhaps we might see
Speaker 1: the Fed have to start cutting rates in two thousand
Speaker 1: twenty three if we show signs of going into a recession,
Speaker 1: But between now and then, there's nothing standing in the
Speaker 1: Fed's way at the moment. We'll see the law of
Speaker 1: unintended consequences keeps working here. And we did see some
Speaker 1: liquidity problems developing in the short end of the market
Speaker 1: earlier this week. We'll see if those can be contained
Speaker 1: and what the market reaction is if the Fed indeed
Speaker 1: follows up with seventy five today and then gives us
Speaker 1: a hawk, a shout look for the future. Okay, today
Speaker 1: it is a case of go big or go home
Speaker 1: for the Fed. Right, yeah, excuse me. They've pretty much
Speaker 1: locked themselves in at this point by the Monday articles
Speaker 1: in the in the press. Um everybody took as a
Speaker 1: hint by the Fed to the markets that they were
Speaker 1: going to do seventy five instead of fifty. And now
Speaker 1: the markets of price for seventy five, not just this time,
Speaker 1: but for July as well. So if they didn't do it,
Speaker 1: if they did fifty, that might cause some market disturbances.
Speaker 1: It could be that markets shrug if they say fifty
Speaker 1: but next time. But it's just easier for them to
Speaker 1: follow through with what they they have led the markets
Speaker 1: to believe is going to happen. Okay, they delivered their
Speaker 1: forecast as well today. I assume what what is that
Speaker 1: going to show us in terms of where they end up?
Speaker 1: What the the what is it called the terminal rate? Yeah,
Speaker 1: the terminal rate, which is not the neutral rate. The
Speaker 1: terminal rate is basically what we're talking about in terms
Speaker 1: of how high do they have to go to bring
Speaker 1: down inflation, And they were looking at something between two
Speaker 1: and a half and three percent. Now the market says
Speaker 1: you gotta go have to go well over three percent.
Speaker 1: We'll see what the FED ratifies when the dot plot
Speaker 1: comes out. We'll see what the neutral rate is, the
Speaker 1: long run rate which neither stimulates inflation or um retards growth,
Speaker 1: and that they've said is in the two and a
Speaker 1: half percent range. Last time they said two point four.
Speaker 1: We'll see if they move that up a little, if
Speaker 1: the economy has changed in such a way that we
Speaker 1: need a higher neutral rate to keep the economy on
Speaker 1: a level course. And then the final thing people are
Speaker 1: gonna really want to look at is the forecast for
Speaker 1: unemployment because that will be essentially what the FED is
Speaker 1: going to be telling us about the economy going forward
Speaker 1: and whether or not we have to worry about a recession. Now,
Speaker 1: they aren't going to say the word recession ever, but
Speaker 1: if they think that unemployment will rise significantly, Uh, and
Speaker 1: I wouldn't bet on that, but if they did, then
Speaker 1: that would be a worrying sign to the markets. Are
Speaker 1: you still honing your question for the chairman at the
Speaker 1: press conference that follows the decision tonight? Yeah, well you
Speaker 1: have to keep honing till the last minute because things
Speaker 1: keep changing around. Um I had to laugh John this morning.
Speaker 1: Kitchuks from Sucken, whom we all know well, have posed
Speaker 1: a very interesting question. He said, are the gods putting
Speaker 1: central anchors back in their place? Now that the Fed
Speaker 1: is being forced to do seventy five and Christine Leguard
Speaker 1: has to hold an extraordinary meeting of the e c
Speaker 1: B H Maybe, uh, maybe the fates are laughing. Don't
Speaker 1: get too arrogant as a central bank policy maker. I
Speaker 1: guess it's the message here from a kid. Mike McKee appreciated,
Speaker 1: and again the Federal Open Market Committee expected to raise
Speaker 1: at least the market expectation of seventy five basis points today,
Speaker 1: the Fed announcing a decision, publishing fresh forecast at two
Speaker 1: pm Wall Street time, and of course you can join
Speaker 1: Bloomberg Television and Bloomberg Radio will have live continuing coverage.
Speaker 1: You're listening to Bloomberg Daybreak and ahead of the FED decision,
Speaker 1: ahead of the cash open on Wall Street, futures in
Speaker 1: the green for now the now futures of one hundred
Speaker 1: and six points. That's a rise of four tenths of
Speaker 1: a percent smp E many futures seventeen points higher and
Speaker 1: the nastatic futures of seventy one points. Your listen in
Speaker 1: too Bloomberg Daybreak. Daybreak brought to you by the Jewish
Speaker 1: Communal Thought and j CPS Donor Advised FA the smart
Speaker 1: choice to manage your philanthropy, especially in times of crisis,
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Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E Living Freedom to Washington, d C, Bloomberg to Boston,
Speaker 1: Bloomberg one O six one does San Francisco, Bloomberg nine
Speaker 1: sixty to the Country, Serious XM to the one nine team,
Speaker 1: and around the globe the Bloomberg Business app and Bloomberg
Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's six thirty
Speaker 1: on Wall Street. Good morning. I'm John Tucker, I'm Nathan Hager.
Speaker 1: We're about three hours away from the open of US trading.
Speaker 1: Time for the five things you need to know to
Speaker 1: start your day, Brought to you by I B k
Speaker 1: R Investment Advisors switched to Interactive Brokers for lowest costs,
Speaker 1: global training and turn key custody solutions. No ticket charges
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Speaker 1: R dot com slash r i A first, the European
Speaker 1: Central Bank President Christine Legarde and her colleagues on the
Speaker 1: Governing Council are holding an emergency meeting to discuss market conditions.
Speaker 1: We caught up with the Finance commission or Married McGinnis
Speaker 1: ahead of the meeting. The ECB is doing its job,
Speaker 1: so I think that's important. I'm not going to second. Yes,
Speaker 1: the conversations will take place at this meeting, but clearly
Speaker 1: since the beginning of this year, and particularly since the invasion,
Speaker 1: the illegal invasion by Russia of Ukraine, there is uncertainty
Speaker 1: in markets. The Youth Finance Commissioner, Married McGinnis says the
Speaker 1: meeting should last about two hours and the easy B
Speaker 1: gathering comes on the same day the FED makes interest
Speaker 1: rate decision. They question now is how much will have
Speaker 1: FED hike. Let's get the tales from Bloomberg's Vinnydale Judais.
Speaker 1: Most economists anticipate another half point rate in priest today,
Speaker 1: lifting the FEDS target range between one point to five
Speaker 1: percent and one point five percent, But something say they
Speaker 1: wouldn't be surprised if the Fed opts for something more
Speaker 1: a larger move and expense mark interest rate. Bloomberg Economics
Speaker 1: says the FEDS dot plot, which traces the likely path
Speaker 1: the US interest rates, could move to three percent or
Speaker 1: a bit higher next year. NNA Bloomberg Day, all right, thanks,
Speaker 1: and while economists predict fifty basis point hike, markets are
Speaker 1: now pricing in a seventy five point increase. Futures are
Speaker 1: higher ahead of the FED decision. John, But it's a
Speaker 1: different story for cryptocurrencies. Bitcoins lower again right now at
Speaker 1: about twenty five dollars. Let's get the latest line from
Speaker 1: Bloomberg's Rnita Young. Ronita Nathan strategist that Glass Notes say
Speaker 1: the bear market for bitcoin is entering its deepest and
Speaker 1: darkest fase. Crypto lenders Celsius froze withdrawals on Monday. Coin
Speaker 1: Base announced widespread layoffs on Tuesday. And this all comes
Speaker 1: just a month after the collapse of the terror USD
Speaker 1: stable coin, roiling crypto markets. Meantime, Bill Gates is dismissing
Speaker 1: crypt projects like n f T S S, shams, saying
Speaker 1: they're quote based on the greater fool theory. He says
Speaker 1: he's neither long nor short Fiasset class live in New York.
Speaker 1: I'm goned a young Bloomberg paperak, thanks for rene to
Speaker 1: the International Energy Agency, predicting global oil supply will struggle
Speaker 1: to meet rising demand next year. Checking oil right now
Speaker 1: Nymex Crude down to dollar thirty one to barrel at
Speaker 1: one seventeen sixty. And that's the five things you need
Speaker 1: to notice start your day. Brought to you by Interactive Brokers,
Speaker 1: straight Ahead your latest local headlines in the check of sports.
Speaker 1: This is Bloomberg, all right. Thanks Nathan sixty three on
Speaker 1: Wall Street. Time to bring in Michael barn Out to
Speaker 1: tell us what else is going on in New York
Speaker 1: hand around the world, John, thank you very much. US
Speaker 1: Representative Tom Rice of South Carolina has been announced it
Speaker 1: from Congress in his Republican primary after voting to impeach
Speaker 1: Donald Trump over the January sixth insurrection. The five term
Speaker 1: congressman was defeated by Trump backed state Representative Russell Fry.
Speaker 1: Fry received while Rice got twenty. Meanwhile, Representative Nancy Mace
Speaker 1: clear the threshold to avoid a runoff against Trump. Back
Speaker 1: to Katie Arrington. Republican Jim Margent, who made false claims
Speaker 1: about the election is advancing to the general election For Nevada,
Speaker 1: Secretary of State March end wins he would oversee future
Speaker 1: elections in the state. New York Governor Cathy Hokel is
Speaker 1: about to get a big endorsement today and the governor's race.
Speaker 1: New York City Mayor Eric Adams is set to make
Speaker 1: the announcement to endorse Hokel. In a joint news conference
Speaker 1: to police officers in El Monte, California, died after responding
Speaker 1: to a possible stabbing in a hotel. El Monte Interim
Speaker 1: police Chief Ben Lowry says the officers were fired upon
Speaker 1: by the suspect. Heroes paid the ultimate sacrifice. Today. They
Speaker 1: were murdered by a coward and we are grieving and
Speaker 1: it hurts. Chief Lowery says the sus fact was also killed.
Speaker 1: The Senate may have found a formula to get Republicans
Speaker 1: on board with a gun safety bill, Bloomberg said. Baxter
Speaker 1: reports Minority Leader Mitch McConnell is making noises that make
Speaker 1: it sound like he will support it. Just people who
Speaker 1: own God, and support for the provisions of the framework
Speaker 1: is off the charts overwhelming. He says. It's wording. I
Speaker 1: think if this framework becomes the actual piece of legislation,
Speaker 1: it's a step forward, a step forward on a bipartisan basis,
Speaker 1: and majority of Leader Chuck Schumer says it will be
Speaker 1: brought to the floor quickly. In San Francisco, I'm at Baxter, Bloomberg, Gabriel.
Speaker 1: The pain at the gas bump continues for the New
Speaker 1: York metro area. According to Triple A, prices rose to
Speaker 1: a record five twenty one overnight and five fifty in Manhattan.
Speaker 1: Former President Trump's bid to hault depositions next month, and
Speaker 1: the New York state probe of his family's real estate
Speaker 1: business was rejected by the state's highest court. Two lower
Speaker 1: courts have all ready rejected the claim that the probe
Speaker 1: by New York Attorney General Latitia James, a Democrat, is
Speaker 1: politically motivated. Global News twenty four hours a day on
Speaker 1: air and on Bloomberg Quick Take, cowered by more than
Speaker 1: twenty seven under journalist and analysts and more than twenty countries.
Speaker 1: Michael Barr and this is Bloomberg. John all right, Michael,
Speaker 1: thank you. It's now six thirty six on Wall Street,
Speaker 1: this time for the Bloomberg Sports Update and here's John's
Speaker 1: test show. All right, John, Yankees have watched the low
Speaker 1: payroll Tampa Bay Rays win the Al East the last
Speaker 1: two seasons, but this year the Yanks ten games ahead,
Speaker 1: first of six between these two over ten days at
Speaker 1: the stadium. A drop fly ball fourth inning put two
Speaker 1: Yankees on Isaiah Connor Philippa at the plate on the line.
Speaker 1: Hard look, Dale, there's a big ten Stanton rounds third,
Speaker 1: coming home, The throw is gonna be too high, goes
Speaker 1: back to the stream. Here comes another run home to
Speaker 1: throw home is is not inn w f A. And
Speaker 1: those are the only two rounds the Yank score twenties
Speaker 1: six in their last two games with the Cubs. They
Speaker 1: won this one to nothing with Garrett Cole going to
Speaker 1: six and one team with three relievers on the shutout.
Speaker 1: Cole very much bouncing back from that night nurse start
Speaker 1: last week in Minnesota where he gave up five home runs.
Speaker 1: Tonight it's Nestor Cortes versus the race Shane mcclenahan. Both
Speaker 1: at the r A s under two and if the
Speaker 1: Yanks win tonight they will be thirty games over five hundred. Amazing.
Speaker 1: The Mets have been so good with Max chers or injured.
Speaker 1: Jacob Degroms still yet to pitch. De gram has thrown
Speaker 1: four bullpen sessions and shows are will throw a simulated
Speaker 1: game Thursday. Meanwhile, Chris Bassett dominant and the Mets for
Speaker 1: nothing when at City Field over Milwaukee. Bassett went eight
Speaker 1: and ings allowed only three hits. The Mets state five
Speaker 1: games ahead of red hot Atlanta. The Braves thirteenth win
Speaker 1: in a row in Washington. They hit five home runs
Speaker 1: of the second straight game, a near no hitter in St.
Speaker 1: Louis the Cardinals Miles Nicholas lost him with two outs
Speaker 1: of the ninth. They'll start the Stanley Cup Final tonight
Speaker 1: Tampa Bay at Colorado. The Lightning may get great and
Speaker 1: point back from injury. He's missed the last two series,
Speaker 1: point thirty goals of the last three playoffs. John stash Ellard,
Speaker 1: Boomberg Sports. All right, thanks to lunch on. It is
Speaker 1: now sixty seven on Wall Street. Time to take a
Speaker 1: look at stocks, some of the names that are moving
Speaker 1: in the pre market. For that, we're joined by Bloomberg
Speaker 1: Radio and TV corresponded pretty gooped, you know on fed Day.
Speaker 1: I wonder if it's just like a fool's errant even
Speaker 1: like look at stocks before any decision from the five. Yeah,
Speaker 1: it's it's a wait and c mode. I mean, happy
Speaker 1: fed day to you John and ours. This is this
Speaker 1: he should have. Um, I got you stock movers. What'd
Speaker 1: you get me? Nothing? Uh, this is a super Bowl
Speaker 1: for financial journalists. Um, and a bonus we get E, C,
Speaker 1: B and B O J decisions before I nerd out
Speaker 1: too much. Let's hop right into crypto stocks because to
Speaker 1: your point, it's hard to kind of mention any specific
Speaker 1: stocks that are moving because a lot of this is
Speaker 1: going to be a wait and see game. A lot
Speaker 1: of this is going to change as we hear more
Speaker 1: from the eco stock though a crypto stock is it
Speaker 1: could be an exchange, it could be a minor, it
Speaker 1: could be a company that is exposed to crypto in
Speaker 1: some way. Tesla, for example, had a lot of exposure crypto.
Speaker 1: UM when Elon Musk was very pro dochcoin and pro bitcoin,
Speaker 1: that thing said, let's talk about some of these crypto
Speaker 1: released docks, because we do know Bitcoin is enteering and
Speaker 1: I believe has already entered a bear market heading for
Speaker 1: that twenty handle and the ripple effects. Here is some
Speaker 1: of the names like micro Strategy MSTR, which by the
Speaker 1: way has major investments in bitcoin, down seven percent. Is
Speaker 1: your Taker their Marathon Digital of course, one of the
Speaker 1: miner's m a r as your Taker down about four
Speaker 1: percent in the pre market right blockchain another minor r
Speaker 1: i o T also down four percent, and coin base
Speaker 1: c o i N down five percent. Remember yesterday we
Speaker 1: got the news that they're cutting their workforce by citing
Speaker 1: the macroeconomic climate. During the dot com craze, remember back
Speaker 1: when you were probably born then, but every company in
Speaker 1: the world was trying to do something dot com ish
Speaker 1: to booster stock price. And then you at the crypto craze,
Speaker 1: and every company tried to make some connection with crypto. Well,
Speaker 1: that blockchain that seemed to be the idea. I mean,
Speaker 1: people are saying it. It is the crypto, It is
Speaker 1: the payment mechanism of the future, whether you're buying car
Speaker 1: or whether you're investing in the long term. Well, I
Speaker 1: mean they said that about a variety of other other
Speaker 1: asset classes. Ets, for example, has gone through a major
Speaker 1: renovation in terms of how people are looking at these markets.
Speaker 1: Let's talk about another big mover this morning. Spotify, though
Speaker 1: is moving on an upgrade. Actually spot or ticker up
Speaker 1: two point three percent. Wells Fargo upgrading the stock to
Speaker 1: an equal weight, saying the music streaming firm's recent investor
Speaker 1: day laid out a more profitable company than the brokerage
Speaker 1: has modeled historically, more profitable keywords as we talk about everything.
Speaker 1: Really my cretty, thanks appreciate it. Bloomberg Radio Market, TV
Speaker 1: Market's core spotted Critty Gupta and looking at stocks as
Speaker 1: a whole ahead of the cash open again, like we
Speaker 1: say after two o'clock, it probably it's not gonna matter,
Speaker 1: but down future is at least right now of one
Speaker 1: and sixteen points of four tens of percent. SMP futures
Speaker 1: that were on the eighteen points that's up half a percent,
Speaker 1: and the nasdack of mini futures right now are up
Speaker 1: seventy points. Uh. Creative was doing the crypto related stocks,
Speaker 1: so let's do Bitcoin right now. That's down about seven
Speaker 1: percent at twenty thousand, five hundred and sixteen dollars per token.
Speaker 1: This is Bloomberg and the Bloomberg weather. For a meteorologist,
Speaker 1: Rob Caroline, lots of sunshine today, the high temperature topping
Speaker 1: out about eighty degrees at tonight, Parkley, Cloudy could see
Speaker 1: some showers after midnight. The loads in the mid sixties. Markets,
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg
Speaker 1: Quick Tape. This is a Bloomberg Business Flash, Nathan Hagar.
Speaker 1: Futures are moving up on this FED decision day. Let's
Speaker 1: go live to the first breaking news desk for today's
Speaker 1: morning oh with film alone. Good morning Bill, Hey, good
Speaker 1: morning Nathan. That's right. US futures are in the green
Speaker 1: right now. Deaf features up a hundred and seven points,
Speaker 1: Sesames gaining eight team on Nastic futures rise by seventy
Speaker 1: two US ten year that three point three eight percent,
Speaker 1: Gold is up sixteen, Oil is falling, and bitcoin is
Speaker 1: down by another six percent. Japan fell one point one
Speaker 1: percent overnight, while Europa markets are in the green, led
Speaker 1: by two point eight percent gains in Italy and back
Speaker 1: in the US. On the economic Frontay eight thirty Empire
Speaker 1: Manufacturing and retail sales at ten o'clock Business inventories, and
Speaker 1: at two o'clock that FED rate decision. Note that Jeff
Speaker 1: Gunlocks urges a mega hike to three percent and Goldman, Saxon,
Speaker 1: Jpe and Morgan see the upper bound rising to one
Speaker 1: point seven five percent in the steepest tightenings since four.
Speaker 1: Wrapping things up, Snowflake was raised to buy a can
Speaker 1: of chord so no Nos raised to equal weight over
Speaker 1: at Morgan Stanley and Continental Resources cut to equate over
Speaker 1: at Wells Fargo Live. I'm the first breaking news desk,
Speaker 1: Bill Maloney, Nathan Okay, Bill, thanks to get live breaking
Speaker 1: news over your Bloomberg type squawk on the terminal s
Speaker 1: q U A go. That's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Good morning, Michael, Good morning Nathan. And South
Speaker 1: Carolina Congressman Tom Rice is out. The five term incumbent
Speaker 1: who voted to impeach Donald Trump for the January six
Speaker 1: tents direction defeated by Trump back Russell Fry. Fry got
Speaker 1: well Rance. The leaders of seven eight O nations from
Speaker 1: across Europe ledge to continue their support for Ukraine. They
Speaker 1: agreed to step up military supplies and provide more heavy
Speaker 1: weapons to the war tour in the country. In baseball,
Speaker 1: the Yankees and Mets one the Red Sox beat the
Speaker 1: A six one Orioles and Giants were also winners. The
Speaker 1: Nationals Lost Global News twenty four hours a day on
Speaker 1: air and on Bloomberg Quick Take, powered by more than
Speaker 1: twenty seven hundred journalists analysts more than hundred twenty countries.
Speaker 1: I'm Michael Barr, and this is Bloomberg, Nathan, Michael. Thank
Speaker 1: you is six forty nine on Wall Street. Let's turn
Speaker 1: to news in science and technology now. The Bloomberg n
Speaker 1: j i T STEM Report is brought to you by
Speaker 1: New Jersey Institute of Technology, offering New Jersey's first undergraduate
Speaker 1: degree in fintech. N g i T is Future in
Speaker 1: the Making, tech driven, finance focused. Learn more at n
Speaker 1: j i T dot edu, slash fintech and now Here's
Speaker 1: what's making news and science, Technology, engineering and math. The
Speaker 1: World Health Organization will hold an emergency meeting to assess
Speaker 1: whether the current spread of monkey pox constitutes a public
Speaker 1: health emergency of international concern. A special committee will meet
Speaker 1: next week to advise on the spread in non endemic countries.
Speaker 1: Monkeypox has been afflicting developing countries for years, but it's
Speaker 1: now spread across Europe and the United States. In recent weeks.
Speaker 1: The virus belongs to the orthopox virus genus that includes
Speaker 1: the very ola virus, the cause of smallpox, but it
Speaker 1: is less contagious and symptoms are milder. Internet Explorer is
Speaker 1: finally headed out to pasture. As of today, Microsoft will
Speaker 1: no longer support the ones dominant browser that legions of
Speaker 1: web surfers love to hate and a few still claim
Speaker 1: to a dore. The twenty seven year old application now
Speaker 1: joins BlackBerry phones, dialobodems, and Palm pilots in the dustbin
Speaker 1: of tech history. And Apple has secured the long term
Speaker 1: rights to stream Major League Soccer, taking another step and
Speaker 1: it's growing ambitions as a sports broadcaster. Apple will begin
Speaker 1: streaming the soccer matches next year as part of a
Speaker 1: decade long deal that is the Bloomberg and j I
Speaker 1: T Stem Report. John, all right, thanks Nathan. We are
Speaker 1: live from the Bloomberg and Tranto Brokers studios where it
Speaker 1: is six fifty one on Wall Street and time now
Speaker 1: to check what's going on in d c S. Some
Speaker 1: of the top stories in our nation's capital include trumpet
Speaker 1: target of rice loses and May swimming into the South
Speaker 1: Carolina primaries. The January six panel taking some cues from
Speaker 1: Netflix with the made for TV hearings, Janet Yelling getting
Speaker 1: trapped in the blame game. This comes over inflation, President
Speaker 1: Biden taking him at oil refinery the record of profits,
Speaker 1: and Elon must says he's thinking of creating a super
Speaker 1: moderate superpack. Let's take a deeper dimond at some of
Speaker 1: these stories this morning with Bloomberg Government reporter Emily Wilkins.
Speaker 1: Let's start with this wonderfully written story the Trump target
Speaker 1: Rice loses, Mace wins in South Carolina primaries. Oh look
Speaker 1: who's on the mine line? Um? Well, I mean so
Speaker 1: so at least at least you know you got the
Speaker 1: right person to talk about it this morning, John, Yeah,
Speaker 1: what happened? So basically, the big takeaway is that there
Speaker 1: were sort of two candidates who had incurred the wrath
Speaker 1: of Trump. Trump had backed their challengers. This is a
Speaker 1: Republican Nancy Mace as well as Republican uh Tom Rice,
Speaker 1: and Rice actually voted to impeach Trump, and then his
Speaker 1: kind of stuck with that criticism, saying that he did
Speaker 1: not regret the vote, that he would have voted again
Speaker 1: had the vote been taken today, and just kind of
Speaker 1: going ahead and saying you know that that he's going
Speaker 1: to stand by this. He has a very conservative record.
Speaker 1: I'll otherwise um and his challenger, Russell Fry, who Trump indoors,
Speaker 1: did wind up beating him. But then you go down
Speaker 1: to the low Country near Charleston, where Nancy Mace is from,
Speaker 1: and she initially had some very strong criticism of Donald Trump.
Speaker 1: After January six she made a numerous TV appearances, but
Speaker 1: since then her rhetoric has really softened a little bit
Speaker 1: in regards to the President. She's kind of pitched himself
Speaker 1: as more as an ally. She actually went to Trump
Speaker 1: Towers and filmed this video where she reminded people for
Speaker 1: the years that she had supported Trump worked on his
Speaker 1: campaign in twentus sixteen, and she was able able actually
Speaker 1: actually able to defeat her Trump backed challenger, Katie Arrington yesterday.
Speaker 1: And so it kind of seems like if there's a
Speaker 1: takeaway from what we've learned in South Carolina, it's that
Speaker 1: you can criticize the president, but you do ultimately need
Speaker 1: to be on his side if you want Republicans, indeed,
Speaker 1: at least in deep red districts to vacuum. How's the
Speaker 1: no memor race shaping up on the other side, So
Speaker 1: I'm in November at least for these two races in
Speaker 1: South Carolina, we pretty much expect Russell Fry that the
Speaker 1: challenger who want to now be the one to go
Speaker 1: to Washington. It's a very red district. I suppose there's
Speaker 1: a small chance that that Nancy Mas could wind up
Speaker 1: losing to a Democrat, but it is unlikely. The district
Speaker 1: it's it's would lean Republican in a normal year, but
Speaker 1: this year it's so good for Republicans that there's a
Speaker 1: good chance that Nancy Needs will return. I think there
Speaker 1: are going to probably be a couple of races where
Speaker 1: it will be interesting to see how a stronger Trump
Speaker 1: candidate fares against a more moderate Democrat. Um. We've got
Speaker 1: one of those examples up in Ohio with Kongs and
Speaker 1: Marcy Captor's race. But for these in particular, UM, you know,
Speaker 1: it's very very likely now that Russell Fry and Nancy
Speaker 1: Mays will be returning to Congress in November. Let's get
Speaker 1: the latest now on the January six, the hearings that
Speaker 1: are taking place, they've actually garnered some pretty sizable audiences. Yeah,
Speaker 1: they've had a good numb or if people really turn
Speaker 1: in for them, and that embark has been because that
Speaker 1: the shows have just been our hearings rather have been
Speaker 1: so well produced, I called them shows. Um. There's a
Speaker 1: lot of guys over there's a really interesting story on
Speaker 1: the terminal kind of about how the hearings have been
Speaker 1: structured like a Netflix show. If you've ever tuned in
Speaker 1: take congressional hearing, you know that they are not exactly
Speaker 1: the height of entertainment. Uh. You see questions being asked repeatedly,
Speaker 1: you see people kind of going on and trailing off,
Speaker 1: and that's not what you've been seeing from these January
Speaker 1: six hearings. They've really been tightly scripted. They're kept a
Speaker 1: two hours. They're just stilling hours and hours and hours
Speaker 1: of testimony down into a few seconds for a clip.
Speaker 1: There isn't sort of this prolonged grilling of a witness, um.
Speaker 1: And so in this way they're supposed to a number one,
Speaker 1: be a little bit more watchable for Americans who want
Speaker 1: to turn in and be really focused on telling the narrative.
Speaker 1: You know, usually in other committe hearings you will see
Speaker 1: people who you know, you'll see Democrats ask certain questions
Speaker 1: and then Republicans ask questions that kind of you know,
Speaker 1: conflict with Democrats asked, and this one you really see
Speaker 1: everyone just on the same page moving forward. And I
Speaker 1: think that the Glowball goal is to really be able
Speaker 1: to tell the story of January six with the new evidence,
Speaker 1: with the new testimony, with the new information that the
Speaker 1: committee has gotten in the last year. Okay, so forget
Speaker 1: to supply chain tie amps, for forget to labor shortages
Speaker 1: and the like. We need a face to blame for inflation.
Speaker 1: Who is it and what's going to happen? Well, Jenny
Speaker 1: Yellen right now is the one who's been really trapped
Speaker 1: but in the White House as far as blaming goes.
Speaker 1: If you remember last month, she went on CNN and
Speaker 1: said that she was wrong about the path that inflation
Speaker 1: would take. And this has come as the Biden administration
Speaker 1: has sort of been very very careful about their messaging
Speaker 1: around inflation. They know that it's a huge liability for
Speaker 1: them and the Democrats come November, and so what they've
Speaker 1: really tried to do is kind of talk about how,
Speaker 1: you know, it's based on the supply chain, how they're
Speaker 1: finding other areas for costs to go down, and so
Speaker 1: for yelling to kind of come out like that, you know,
Speaker 1: it kinds of shows exactly how much the Biden administration
Speaker 1: is really struggling to handle inflation and how there's just
Speaker 1: not a clear path forward for the Biden administration or
Speaker 1: or really anyone who sits in the White House to
Speaker 1: control inflation when it is at global level as it is,
Speaker 1: and for higher prices. You can also blame oil refiners
Speaker 1: where you can try what is President Biden doing on
Speaker 1: that front? Thirty seconds? Yeah, So Biden as going after
Speaker 1: a number of oil refiners after they reported really unprecedented margins.
Speaker 1: Biden said that those are unacceptable and called for immediate action.
Speaker 1: He has asked his Energy Secretary, Jennifer Granholm to hold
Speaker 1: an emergency meeting on the subject in a couple of days,
Speaker 1: and just really trying to figure out a way how
Speaker 1: to get refineries producing more. Um really saying, you know,
Speaker 1: if you guys are braising such high prices, then why
Speaker 1: are the American people paying five dollars a gallon? A
Speaker 1: complicated answer, but one that Biden is really trying to
Speaker 1: show that he's taking action on given how much pain
Speaker 1: there is at the pump for Americans. Emily, you always
Speaker 1: a pleasure, Bloomberg government reporter Emily Wilkins. You can read
Speaker 1: more about these stories on Bloomberg dot com or the
Speaker 1: Bloomberg Terminal. And a reminder, you can follow the latest
Speaker 1: on Bloomberg radially in Washington Bloomberg one and one oh
Speaker 1: five point seven FM HD two. On this FED day,
Speaker 1: futures point to a higher cash open up walls, great
Speaker 1: down futures of one, eight SMB futures of eighteen, the
Speaker 1: NAS day futures seventy five points higher. For Nathan Hagar.
Speaker 1: I'm John Tucker, and you've been listening to Bloomberg Daybreak