WEBVTT - Bloomberg Daybreak: December 29, 2022 - Hour 1 (Radio) 0:00:01.880 --> 0:00:05.280 Markets, headlines and breaking news twenty four hours a day 0:00:05.360 --> 0:00:08.960 at Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg 0:00:09.000 --> 0:00:18.840 Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow. 0:00:19.000 --> 0:00:21.520 US Dock Index Future is on the rise this morning 0:00:21.560 --> 0:00:24.560 as technology shares rally, and we check the markets all 0:00:24.640 --> 0:00:27.400 day long here on bloomberg s and P futures, they're 0:00:27.440 --> 0:00:29.320 up a third of a percent or thirteen points, and 0:00:29.360 --> 0:00:31.600 down features of a tenth of a percent or forty 0:00:31.640 --> 0:00:34.279 five points. At nast day futures up sixtensive upper cent 0:00:34.440 --> 0:00:37.160 or sixty six points. The decks in Germany's up two 0:00:37.159 --> 0:00:40.240 tenths of uppercent. Ten year treasury up three thirty seconds, 0:00:40.280 --> 0:00:42.199 you know, three point at six percent. The yield on 0:00:42.280 --> 0:00:45.040 the two year four point three five percent. Nieme x 0:00:45.080 --> 0:00:47.199 scret oil is down what and a half percent on 0:00:47.280 --> 0:00:49.880 a dollar eighteen at seventy seven dollars, seventy eight cents 0:00:49.880 --> 0:00:52.479 of barrel comic schooled down two tenths percent or four 0:00:52.520 --> 0:00:55.760 dollars at eighteen eleven eighty announced the euro one point 0:00:55.760 --> 0:00:58.120 oh six three three against the dollar, British pound one 0:00:58.120 --> 0:01:00.640 point two zero three two and the A one thirty 0:01:00.680 --> 0:01:03.800 three point eight one Bitcoin is up for tensive percent 0:01:04.160 --> 0:01:06.880 at sixteen th six hundred dollars. And that's a Bloomberg 0:01:06.920 --> 0:01:10.119 business flash. John thanks five fifties six on Wall Street, 0:01:10.160 --> 0:01:12.720 and it's time for a daily Bloomberg lawbree If exploring 0:01:12.800 --> 0:01:16.120 legal issues in the news. Today, we're looking at the 0:01:16.160 --> 0:01:19.440 battle over titled forty two, the White House complying with 0:01:19.480 --> 0:01:22.600 the Supreme Court order to keep the sweeping measure in place. 0:01:22.760 --> 0:01:27.320 Title forty two places coronavirus controls on the border, stemming 0:01:27.600 --> 0:01:30.000 the flow of the immigrants into the US. And for 0:01:30.080 --> 0:01:32.680 more on the issue of Bloomberg's Madison Mills speaks with 0:01:33.120 --> 0:01:37.479 Leon Fresco, a partner at Holland and Night. What would 0:01:37.480 --> 0:01:40.640 you say is the single biggest concern that you have 0:01:40.800 --> 0:01:44.680 about the impact of this decision from the Supreme Court? Well, 0:01:44.720 --> 0:01:49.080 the interesting thing is that what's being reported isn't exactly 0:01:49.120 --> 0:01:52.920 in line with the actual facts of what's going on, 0:01:53.240 --> 0:01:56.200 meaning that there are so many levels and layers to 0:01:56.360 --> 0:01:59.880 these cases that it's really hard to sort of get 0:01:59.880 --> 0:02:02.880 a straight arrow reporting of what is happening. And here's 0:02:02.880 --> 0:02:06.639 what I mean. So, for instance, in the Louisiana case, 0:02:07.000 --> 0:02:10.600 which is the case that's actually keeping now Title forty 0:02:10.680 --> 0:02:15.120 two in effect until at least now June of three. 0:02:15.800 --> 0:02:18.640 That's the case that the Biden administration could have chosen 0:02:18.680 --> 0:02:21.800 to speed up in the appellate process and asked for 0:02:21.960 --> 0:02:26.480 expedited consideration, but they didn't, and so that's why we 0:02:26.520 --> 0:02:29.200 don't have an answer on the fate of Title forty 0:02:29.240 --> 0:02:32.920 two faster. Secondly, in the DC case, which is the 0:02:32.919 --> 0:02:36.000 case I was actually dealt with by the Supreme Court 0:02:36.040 --> 0:02:39.920 about this issue of whether the States could intervene or not, 0:02:40.080 --> 0:02:43.560 that whether that decision from the DC District would be stayed. 0:02:43.960 --> 0:02:46.960 The only reason there's a decision to be stayed now 0:02:47.400 --> 0:02:52.080 is because the Department of Justice took an appeal to 0:02:52.600 --> 0:02:55.440 the Court of Appeals of the d C Circuit. Had 0:02:55.480 --> 0:02:57.960 they not taken an appeal, there would have been nothing 0:02:58.040 --> 0:03:01.160 for the States to intervene to and there wouldn't have 0:03:01.200 --> 0:03:04.640 been yet again let's stay. And so what's fascinating about 0:03:04.720 --> 0:03:08.480 this is the Biden administration can say, well, we don't 0:03:08.480 --> 0:03:11.400 want type of forty two around, but that's not actually 0:03:11.440 --> 0:03:15.400 consistent with two different litigation decisions that have been made 0:03:15.680 --> 0:03:19.160 in these cases. So the fair point is to say, 0:03:19.200 --> 0:03:23.560 they may have a loopwarm desire to have tit of 0:03:23.680 --> 0:03:26.360 forty two around, but there are certainly the actions that 0:03:26.400 --> 0:03:29.960 have taken place, our actions where it doesn't seem like 0:03:30.000 --> 0:03:34.440 there's actually a great desire to entit afforty too, with 0:03:34.560 --> 0:03:38.680 regard to the Biden administration, have we seen comprehensive immigration 0:03:38.720 --> 0:03:42.000 plans from the right, Well, they are not in the 0:03:42.080 --> 0:03:45.280 mood to do anything at the moment that would have 0:03:45.680 --> 0:03:49.240 sort of the pillars of immigration reform, which would be 0:03:49.600 --> 0:03:51.560 they're sort of three or why is that? Why are 0:03:51.560 --> 0:03:53.960 they not in the mood for that? Well, I think 0:03:53.960 --> 0:03:57.680 they view the current situation on the border as one 0:03:57.880 --> 0:04:01.080 where to the extent that now you're seeing more and 0:04:01.160 --> 0:04:04.720 more programming in this regard even not on just Fox 0:04:04.800 --> 0:04:07.360 News or news Max, but you're seeing it on MSNBC 0:04:07.960 --> 0:04:11.680 and CNN, that that's an advantage a situation to show 0:04:11.720 --> 0:04:14.880 that there's not an ability to end those scenes on 0:04:14.960 --> 0:04:19.039 the southern border, and so why basically give a handoff 0:04:19.160 --> 0:04:22.360 to a person who's not able to handle this situation. 0:04:22.839 --> 0:04:26.080 Immense le On Fresco, a partner at Holland and Nice, 0:04:26.120 --> 0:04:29.880 speaking with Bloomberg's Madison Mills, can catch more conversations like 0:04:29.960 --> 0:04:33.839 this on Bloomberg's Sound on Herd week days at five 0:04:33.880 --> 0:04:37.800 pm Eastern on Bloomberg Radio Plus. Attorneys can find exceptional 0:04:37.880 --> 0:04:41.320 legal research and business development tools at Bloomberg Law dot 0:04:41.320 --> 0:04:45.320 com and on the Bloomberg terminal. It's at b law 0:04:46.120 --> 0:04:54.120 dot gov. This is Bloomberg Markets, headlines and breaking news 0:04:54.200 --> 0:04:56.839 twenty four hours a day at Bloomberg dot com, the 0:04:56.880 --> 0:05:01.000 Bloomberg Business at and at Bloomberg Quctape. She's a Bloombern 0:05:01.080 --> 0:05:10.159 Business lash and I'm Karen Moscow. US stock index Future 0:05:10.240 --> 0:05:13.240 is on the rise this morning as technology shares rally 0:05:13.320 --> 0:05:15.159 on the second to last day of training and what's 0:05:15.200 --> 0:05:17.600 been a brutal year for financial markets, and we check 0:05:17.640 --> 0:05:20.040 the markets all day long here on Bloomberg S and P. 0:05:20.240 --> 0:05:22.279 Future is up about thirteen points of a third of 0:05:22.320 --> 0:05:24.520 up percent. Deal futures up a tenth of upper cent 0:05:24.560 --> 0:05:27.640 or forty two points. Nasdack futures are up six tenths 0:05:27.640 --> 0:05:30.279 of upper cent or sixty seven points. The decks in 0:05:30.320 --> 0:05:32.919 Germany's up to tenths of upper cent. Ten year treasury 0:05:32.960 --> 0:05:35.640 up four thirty seconds at three point eight six percent. 0:05:35.680 --> 0:05:38.039 They yield on the two year four point three four percent. 0:05:38.400 --> 0:05:40.800 Ni Max screwed oils down one point seven percent at 0:05:40.800 --> 0:05:43.200 a dollar thirty two at seventy seven dollars sixty four 0:05:43.240 --> 0:05:45.880 cents of barrel comes golled down two tens percent or 0:05:45.880 --> 0:05:48.960 three dollars ninety cents at eighteen eleven ninety announce the 0:05:49.040 --> 0:05:51.719 Euro one point six three five against the dollar. British 0:05:51.760 --> 0:05:54.000 found one point two zero to nine, the n is 0:05:54.000 --> 0:05:56.680 at one thirty three point seven seven and big coins 0:05:56.720 --> 0:05:59.360 up for tens of uppercent. It's at about sixteen thousand, 0:05:59.400 --> 0:06:02.280 six hundred dollars. And that's a bloomberg business flash. Now 0:06:02.279 --> 0:06:04.520 here's Michael Barr with more on what's going on around 0:06:04.560 --> 0:06:07.040 the world. Michael, Karen, thank you very much. More than 0:06:07.080 --> 0:06:11.160 twenty three hundred Southwest flights are already canceled today, marking 0:06:11.160 --> 0:06:13.920 the fourth strade day of the airline has canceled more 0:06:13.960 --> 0:06:16.840 than fifty percent of its scheduled flights, and all more 0:06:16.880 --> 0:06:20.440 than thirteen thousand Southwest flights the past week have been canceled. 0:06:20.920 --> 0:06:24.279 The U S is reinstating mandatory COVID nineteen testing for 0:06:24.360 --> 0:06:28.240 airline travelers arriving from China. The CDC says the new 0:06:28.279 --> 0:06:31.279 measures follow a surge in infections in China and a 0:06:31.360 --> 0:06:35.240 lack of transparency from Chinese officials. A massive fire at 0:06:35.240 --> 0:06:39.040 a Cambodian hotel casino has killed at least a dozen people. 0:06:39.480 --> 0:06:41.839 In the NBA, the Nets one their tenth straight, the 0:06:41.880 --> 0:06:44.800 Wizards and Warriors one. In the NHL, the Bruins beat 0:06:44.839 --> 0:06:47.760 the Devil's three one. Global News twenty four hours a 0:06:47.839 --> 0:06:50.680 day on air and on Bloomberg Quick Take, powered by 0:06:50.720 --> 0:06:53.800 more than twenty seven hundred journalists and analysts more than 0:06:53.839 --> 0:06:56.719 a hundred twenty countries. Michael Barr, this is Bloomberg. John 0:06:56.720 --> 0:06:59.080 all right, Michael, thank you. It is five forty two 0:06:59.120 --> 0:07:02.400 on Wall Street to Bloomberg Daybreak. I'm John Tucker alongside 0:07:02.480 --> 0:07:04.159 Karen Moscow. Let's take a look at some of the 0:07:04.200 --> 0:07:09.320 other stories that are making news this morning. Three will 0:07:09.360 --> 0:07:12.120 likely see more attempted crossings of the U. S border 0:07:12.280 --> 0:07:16.760 that threatens to burden already an overwhelmed enforcement system. President 0:07:16.800 --> 0:07:20.720 Biden's immigration policies face uncertainty, and to the Supreme Court, 0:07:20.800 --> 0:07:25.520 Captain placed pandemic era border controls. Leon Fransco's former Deputy 0:07:25.560 --> 0:07:30.040 Assistant Attorney General for the Office of Immigration Litigation. At 0:07:30.040 --> 0:07:32.040 the end of the day. I do think that there 0:07:32.040 --> 0:07:35.080 will be a confluence the factors that will hopefully lead 0:07:35.120 --> 0:07:38.360 to an immigration reform efforts, and the question is why 0:07:38.480 --> 0:07:41.760 that how that will happen? And stay with us for 0:07:41.880 --> 0:07:45.600 more on the title fight from the former Deputy Assistant 0:07:45.640 --> 0:07:48.800 Attorney General Fransco that's coming up shortly in our daily 0:07:48.840 --> 0:07:53.280 Bloomberg laundrerief. On the meantime, John Crypto again in focus 0:07:53.360 --> 0:07:57.920 this morning. Salana, the Blanchain network once championed by Sam Bankman. 0:07:58.040 --> 0:08:01.160 Freed is drawing intense through me for its close ties 0:08:01.240 --> 0:08:04.920 to the disgrace crypto mogul. The prices Alana's crypto token 0:08:05.080 --> 0:08:08.600 s o L has plummeted ninety six percent from it's 0:08:08.600 --> 0:08:11.520 all time high in November of last year. It peaked 0:08:11.520 --> 0:08:14.880 at two hundred sixty dollars. Now it's around ten and 0:08:14.920 --> 0:08:18.160 the fellow reserves aggrssive tightening continues to take a toll 0:08:18.200 --> 0:08:21.240 on the housing market. US pending home sales fell for 0:08:21.280 --> 0:08:24.680 a sixth consecutive month in November to the second lowest 0:08:24.720 --> 0:08:28.360 on record. Data also show borrowing costs have roughly doubled 0:08:28.400 --> 0:08:30.960 since the start of the year. Well, John, the US 0:08:31.080 --> 0:08:34.160 Virgin Islands is suing JP Morgan for turning a blind 0:08:34.240 --> 0:08:37.559 eye to former client Jeffrey Epstein's sex trafficking on his 0:08:37.720 --> 0:08:40.959 private island. There. The Virgin Islands Attorney General says the 0:08:41.040 --> 0:08:44.120 suit is part of an ongoing effort to hold accountable 0:08:44.200 --> 0:08:48.320 those who facilitated Epstein's activities. And Karen now to another 0:08:48.400 --> 0:08:51.480 story we're watching this morning, Russia ruling out peace talks 0:08:51.520 --> 0:08:54.040 with Ukraine. Let's take a deeper diving into this morning. 0:08:54.440 --> 0:08:58.640 We're joined by Bloomberg News correspondent Alexander Kudriski joining us 0:08:58.640 --> 0:09:01.520 now from Warsaw Polo and thanks for being with us. 0:09:01.600 --> 0:09:05.480 The Russian Foreign Minister Sergei Lavrov is making some comments. 0:09:05.559 --> 0:09:12.560 What exactly is he saying? Um? Russian Foreign Minister Lavrov 0:09:12.920 --> 0:09:17.120 uh had an interview today in which he said that 0:09:17.480 --> 0:09:22.320 Kremlin will not be discussing Ukraine's demands to withdraw from 0:09:22.559 --> 0:09:26.880 the occupied plans and pay any reparations, so the answers 0:09:27.160 --> 0:09:31.319 Uh another interview by Ukrainian Foreign minister who said that 0:09:32.080 --> 0:09:35.360 Ukraine would like to hold a piece Pize summit on February, 0:09:35.400 --> 0:09:39.800 but they don't anticipate Russia to take part and seek 0:09:40.400 --> 0:09:45.040 tribunal against Russian leadership. Well, how is the war? Let's 0:09:45.080 --> 0:09:50.760 back up, how is the war going for Ukraine and Russia? Uh? Well, 0:09:50.840 --> 0:09:54.800 just today people in Kiev, actually including our Blueberg colleagues 0:09:54.960 --> 0:09:59.800 in the Ukrainian capital, heard series of loud explosions because 0:10:00.160 --> 0:10:07.040 Russia lunched another missile bash. Um. However, the explosions appeared 0:10:07.080 --> 0:10:09.679 to be a largely work of air defense, which is 0:10:10.000 --> 0:10:14.280 WHICHIES has become very effective, and all missiles in climbing 0:10:14.720 --> 0:10:17.360 at ke has been shut down for example, and only 0:10:17.400 --> 0:10:21.560 about one fifth of Russian missiles fired today. Um, we're 0:10:21.640 --> 0:10:26.400 able to reach their target. But still the attack caused 0:10:28.240 --> 0:10:32.960 quite big power disruptions in other areas. For example, in 0:10:33.080 --> 0:10:37.640 Leaf City, New Poland, almost any percent of people were 0:10:37.679 --> 0:10:43.280 left without electricity. Does Russia's show any signs of wanting 0:10:43.280 --> 0:10:52.520 to end this conflict? Well, um, today shows that Russia 0:10:52.679 --> 0:10:56.760 is still willing to stick to its h relatively new 0:10:57.360 --> 0:11:02.720 tactic of targeting Ukrainian energy infrastructure since it's apparently not 0:11:02.840 --> 0:11:07.480 able to reach any successes in the battlefield. We'll have 0:11:07.559 --> 0:11:12.160 to see what the new year brings. But today we've 0:11:12.160 --> 0:11:17.440 seen another missile attack, which was a tenth tenth attack 0:11:17.760 --> 0:11:23.400 since September of such times, and let's focus continuous. I 0:11:23.440 --> 0:11:25.720 want to focus on the people of Ukraine, how they're 0:11:25.760 --> 0:11:32.800 doing in this winter without any supplies of of energy. 0:11:33.080 --> 0:11:35.720 At this point, what's the situation on the ground there 0:11:35.760 --> 0:11:40.840 in Ukraine for the people? Oh, you Ukrainian people now 0:11:40.960 --> 0:11:45.120 have to get used to living with power supply, which 0:11:45.160 --> 0:11:52.360 is not a table for most people. Um. Every day 0:11:53.240 --> 0:11:57.880 you have periods of time when you have electricity and 0:11:57.920 --> 0:12:01.040 when you don't for thresholds of several hours, and it 0:12:01.080 --> 0:12:06.120 all depends on the region. Situations seems to be um, 0:12:06.240 --> 0:12:09.880 whether in some areas and worse in others, or especially 0:12:09.920 --> 0:12:13.920 after a missile hits UM. Like I said today, there 0:12:13.960 --> 0:12:18.240 are power disruptions in a death region and keive authorities. 0:12:18.280 --> 0:12:21.640 By the way, even if a KIV wasn't directly hit 0:12:21.760 --> 0:12:27.640 by missile, still had to introduce UM power cuts just 0:12:27.800 --> 0:12:33.439 to avoid some some damage in case some missiles could 0:12:33.440 --> 0:12:37.280 reach their goals. Um, it's a tough time, tough winter. 0:12:37.440 --> 0:12:41.120 But fortunately the weather is not that of frosting now 0:12:41.240 --> 0:12:45.480 and well so far Ukraine is not freezing to death. 0:12:46.240 --> 0:12:49.280 We can only hope that holds. At this point. What 0:12:49.440 --> 0:12:54.280 you're in Poland describe for me the situation there. Refugees 0:12:54.400 --> 0:12:57.679 in Poland and other joining countries sound like they are 0:12:57.760 --> 0:13:00.640 stepping up to the plate to help Ukraine and the 0:13:00.679 --> 0:13:05.080 people that have flowed flowed over the border. Right. Yes, 0:13:05.360 --> 0:13:10.280 Polands have been incredibly helpful to Ukrainians and incredibly welcoming 0:13:10.320 --> 0:13:15.760 and effective in its help. Um. But also one particuliar 0:13:15.880 --> 0:13:18.920 thing is that most people coming from Ukraine are women 0:13:18.920 --> 0:13:21.679 and children because men are technically not allowed to leave 0:13:21.679 --> 0:13:27.680 the country. From what I saw in terms of last statistics, 0:13:27.720 --> 0:13:34.760 some eight million Ukrainians left for Poland since the war start, 0:13:34.880 --> 0:13:38.520 but also six million returns. So many people do come 0:13:38.559 --> 0:13:45.640 back and not everyone's stays in Poland or elsewhere in Europe. Um. Uh, 0:13:47.200 --> 0:13:52.280 well in Poland, but the country is U doing is 0:13:52.440 --> 0:13:55.440 best to help Ukraine because it's all this that the 0:13:55.520 --> 0:14:02.800 war is not that far away Ukraine, UM, Poland Polish 0:14:02.800 --> 0:14:08.160 people in Polish government is willing to help Ukraine survive 0:14:08.400 --> 0:14:11.959 and sustain itsel because if he doesn't, who knows what's 0:14:12.000 --> 0:14:16.680 going to happen. Bloomberg reporter Alexander Kadriski on the very 0:14:16.760 --> 0:14:19.680 latest joining us from Warsaw this morning. Thanks very much, 0:14:19.920 --> 0:14:23.240 alex We appreciate that this morning, as we look at 0:14:23.280 --> 0:14:25.600 futures right now, the down futures, they point to a 0:14:25.720 --> 0:14:27.920 higher open out Wall Street this morning, at least for now. 0:14:27.960 --> 0:14:30.480 The down futures of sixty one points, that is a 0:14:30.560 --> 0:14:33.400 rise of two tents of a percent. Smp Ehumni futures 0:14:33.640 --> 0:14:36.160 there are fourteen of four tenths of a percent. The 0:14:36.240 --> 0:14:40.040 Nanazac futures sixty nine points higher right now, up six 0:14:40.120 --> 0:14:42.840 tenths of eight percent, the ten year yell down one 0:14:42.880 --> 0:14:46.800 basis point where three eighties six. You are listening the 0:14:46.840 --> 0:14:54.760 Bloomberg Day Break markets, headlines and breaking news twenty four 0:14:54.800 --> 0:14:57.800 hours a day at Bloomberg dot com, the Bloomberg Business 0:14:57.880 --> 0:15:01.560 at and at Bloomberg ticktake three. He's a Bloomberg Business 0:15:01.600 --> 0:15:10.400 lash and I'm Karen Moscow. U s Dock Index futures 0:15:10.440 --> 0:15:14.240 gaining this morning, led by the Nasdaq futures following a 0:15:14.360 --> 0:15:17.760 rally and Asian technology stocks amid science China's easing a 0:15:17.880 --> 0:15:20.600 regulatory crackdown, and we checked the markets all day long 0:15:20.600 --> 0:15:23.040 here on Bloomberg s and P futures they're higher, up 0:15:23.080 --> 0:15:25.720 three tents of upper cent or eleven points. Down future 0:15:25.720 --> 0:15:27.680 is up a tenth of upper cent or thirty eight points. 0:15:27.960 --> 0:15:30.960 Nashtack futures, they're up six tenths of upper center sixty 0:15:30.960 --> 0:15:33.480 one points. The decks in Germany's up two tenths of 0:15:33.560 --> 0:15:36.560 upper cent ten. Your treasury up five thirty seconds three 0:15:36.600 --> 0:15:38.640 point at six percent. They yield on the two year 0:15:38.720 --> 0:15:41.640 four point three four percent. Nine back. Screwed oil is 0:15:41.680 --> 0:15:44.200 down one percent at a dollar forty two at seventy 0:15:44.240 --> 0:15:46.920 seven dollars fifty four cents of barrel call makes gold 0:15:46.920 --> 0:15:50.080 lit'll changed at eighteen fourteen fifty announced and that's a 0:15:50.080 --> 0:15:52.760 bloomberg business flash. Now here's Michael Barr with more on 0:15:52.840 --> 0:15:55.760 what's going on around the world. Michael, good morning, Good morning, Karen. 0:15:55.840 --> 0:15:58.000 Southwest is trying to recover from one of the worst 0:15:58.000 --> 0:16:02.360 airline meltdowns in US has three passengers are still stranded 0:16:02.400 --> 0:16:05.840 all over the country. Another twenty three hundred Southwest flight 0:16:05.920 --> 0:16:09.360 has been canceled for today. The US and Italy joined 0:16:09.360 --> 0:16:13.440 an increasing number of nations requiring COVID tests for travelers 0:16:13.440 --> 0:16:16.320 from China. Concerns are mounting over the risk of any 0:16:16.320 --> 0:16:19.840 new variants emerging from the surge of infections in the country. 0:16:19.880 --> 0:16:22.800 In the NBA, the NETS one, their tenth straight the 0:16:22.840 --> 0:16:26.520 Wizards and Warriors one in the NHL, the Bruins beat 0:16:26.560 --> 0:16:29.280 the Devil's three one. Global news twenty four hours a 0:16:29.360 --> 0:16:32.120 day on air and on Bloomberg Quick Take, powered by 0:16:32.200 --> 0:16:35.200 more than twenty seven under journalists and analysts more than 0:16:35.680 --> 0:16:38.960 twenty countries. Michael bar this is Bloomberg. John alright, Michael, 0:16:39.000 --> 0:16:41.720 thank you, five twenty three odd Wall Street down. John Scer, 0:16:41.800 --> 0:16:44.680 this is Bloomberg Daybreak. Let's pick up on that headline, Michael. 0:16:44.720 --> 0:16:47.240 Just to mention the US and Italy joining an increasing 0:16:47.320 --> 0:16:51.440 number of nations requiring COVID tests for travelers from China. 0:16:51.640 --> 0:16:54.800 Let's take a deeper dive hand to Shanghai this morning, 0:16:55.160 --> 0:16:58.240 and that's where you find Bloomberg's Alan one Alan always 0:16:58.240 --> 0:17:01.320 a pleasure. Um, what's thet is? What countries are imposing? 0:17:01.400 --> 0:17:04.560 What kind of restrictions? Yeah, you just mentioned that the 0:17:04.960 --> 0:17:08.040 main ones are in the US and early um and 0:17:08.240 --> 0:17:11.520 uh in liew in the US in lieu of tests? Um? Uh? 0:17:11.960 --> 0:17:16.040 The what the US said that passengers Chinese passengers, travelers 0:17:16.040 --> 0:17:20.560 can provide documentation of recovery from COVID or they have 0:17:20.720 --> 0:17:22.720 they have tested positive more in ten days earlier, so 0:17:22.960 --> 0:17:26.320 doesn't necessarily have to be negative PCR test results. The 0:17:26.359 --> 0:17:31.440 requirement also requires that all passengers, UM, you know I 0:17:31.520 --> 0:17:34.199 have to like undergo this process, regardless of nationality or 0:17:34.320 --> 0:17:38.440 vaccination status. UM. The US health officials are concerned basically 0:17:38.840 --> 0:17:42.800 about china lack of transparency around case data, saying that 0:17:42.800 --> 0:17:45.200 the high numb of people, high number of people affected 0:17:45.200 --> 0:17:48.159 over a very short period time raised the chance of 0:17:48.200 --> 0:17:51.040 a new variant emerging. I mean, for it's Paul. China 0:17:51.119 --> 0:17:53.639 said that if there are any new variants, it's going 0:17:53.640 --> 0:17:57.560 to report it to the World Healthfulization and UH, a 0:17:57.760 --> 0:18:00.880 global consortium that tracks all the stuff attracts the pandemic, 0:18:01.359 --> 0:18:03.440 said US. So far, there aren't any signs of any 0:18:03.440 --> 0:18:08.680 significant new new mutations emerging. And what's why we've seen 0:18:08.800 --> 0:18:11.360 in China has been circling around the world so far, 0:18:11.960 --> 0:18:14.600 the vaccines that were available in China, I think you've 0:18:14.640 --> 0:18:17.119 got what is Are they effective? I mean they're just 0:18:17.920 --> 0:18:19.960 or not well. I have to think about it that 0:18:20.000 --> 0:18:22.960 there's always that concern even among the Chinese. I mean, 0:18:23.080 --> 0:18:26.880 I hear about UM mainland Chinese saying that you want 0:18:26.880 --> 0:18:29.960 to go to Macau, Hong Kong to get the m 0:18:30.040 --> 0:18:33.600 R and a vaccine UM. From my perspective, you know, 0:18:33.720 --> 0:18:37.800 I've I've had to two Chinese shots the Sidle Farm, 0:18:38.640 --> 0:18:41.440 which are who approved, and then I got a booster 0:18:41.560 --> 0:18:43.159 five boost a year ago when I was in New 0:18:43.240 --> 0:18:47.359 York and I contracted COVID and I I was a symptomatic, 0:18:47.400 --> 0:18:49.840 I know symptoms. So it's hard for me to say 0:18:49.880 --> 0:18:54.479 that the Chinese Chinese vacucally's are less effective just because 0:18:54.560 --> 0:18:56.959 I myself have you know, it looks like I've been 0:18:56.960 --> 0:19:00.840 able to sort of withstand the worst of it. Um. 0:19:00.960 --> 0:19:03.040 But yeah, there's always a concern. And that's why you know, 0:19:03.200 --> 0:19:06.400 China has been coming out with and now inhalable vaccine. 0:19:07.440 --> 0:19:10.119 It's going to allow foreigners to get the flies of 0:19:10.200 --> 0:19:13.119 Beyon tech of vaccine here in China as well. Okay, 0:19:13.119 --> 0:19:17.119 from the market's perspective, is the China reopening a good 0:19:17.160 --> 0:19:20.959 thing because well they're back in the game the world's 0:19:20.960 --> 0:19:23.920 second the largest economy. Or is it a bad thing 0:19:24.080 --> 0:19:28.520 because maybe COVID is gonna spread maybe variants, Well that's 0:19:28.560 --> 0:19:30.560 the thing, you know, will are there gonna be new 0:19:30.640 --> 0:19:35.040 variants emerging? So far, let like I said, Global Consortium 0:19:35.080 --> 0:19:37.080 attracts all the stuff and they're watching really carefully. It 0:19:37.119 --> 0:19:40.280 doesn't what they do they said so far earning is 0:19:40.320 --> 0:19:43.720 a okay. Um. Bobviously there's always going to be the 0:19:43.760 --> 0:19:47.199 concern just because um, you know, if you know the 0:19:47.280 --> 0:19:50.679 fact that the spring China has been so rapid, so sudden, 0:19:50.800 --> 0:19:54.080 that there's always that possibility. Um. But I think as 0:19:54.080 --> 0:19:57.320 far as the vessels concerned, UM, right now, it's more 0:19:57.359 --> 0:20:00.359 of a wait and see approach just because is we 0:20:00.440 --> 0:20:03.399 have to China approaching and we're gonna have you know, 0:20:03.440 --> 0:20:07.400 a lot more infections and deaths in the next few weeks, um, 0:20:07.480 --> 0:20:12.000 and then from there will well, well, the operaks peak. Today, 0:20:12.080 --> 0:20:15.000 the Chinese c DC said that the operaks are peaking 0:20:15.000 --> 0:20:18.840 in Baiting, uh chung Do, and uh Tangin, but it's 0:20:18.840 --> 0:20:22.040 still pretty seriously Shanghai. Uh. So, I mean there are 0:20:22.080 --> 0:20:24.760 like you know, uh, it's always peaking in some major 0:20:24.840 --> 0:20:28.159 important cities, but we're still not where we need to 0:20:28.160 --> 0:20:33.399 be from Shanghai. This morning, Bloomberg's Alan Jan Alan stay healthy. 0:20:33.480 --> 0:20:36.760 We appreciate it, and just ahead this morning's top stories 0:20:37.000 --> 0:20:41.640 plus your local headlines. Right now, the SMP futures are 0:20:41.720 --> 0:20:44.879 twelve points hire. That's a three tents of percent. Right now, 0:20:44.920 --> 0:20:47.399 Let's get a look at today's Bloomberg weather forecast, and 0:20:47.560 --> 0:20:51.000 with that's met around just Rob Caroline mixed the clouds 0:20:51.000 --> 0:20:53.320 and sunshine shaping up for the Tri State area. High 0:20:53.320 --> 0:20:55.480 pressures off to our south and east in the Atlantic, 0:20:55.520 --> 0:20:59.000 so that's gonna allow to warm up high to fifty. 0:20:59.040 --> 0:21:02.119 We're partly cloudy ton eight thirty to thirty five, partial 0:21:02.160 --> 0:21:04.920 sun for tomorrow close to fifty becoming cloudy thirty five 0:21:05.000 --> 0:21:07.440 to forty tomorrow night rain who was in late Saturday 0:21:07.480 --> 0:21:10.880 fifty to fifty five, partial clearing on Sunday. On Rob 0:21:10.920 --> 0:21:16.880 Carolyn with your weekend forecast on Bloomberg eleven three oh 0:21:17.000 --> 0:21:21.560 broadcasting live from the Bloomberg Interactive Broker Studio in New York, 0:21:21.640 --> 0:21:25.119 Bloomberg EVM freed on to Washington, d C, Bloomberg ninety 0:21:25.440 --> 0:21:28.960 one to Boston, Bloomberg one O six one to San Francisco, 0:21:29.040 --> 0:21:32.240 Bloomberg n sixty to the country, Sirius XM to the 0:21:32.320 --> 0:21:35.480 one nineteen and around the globe, the Bloomberg Business app 0:21:35.600 --> 0:21:45.119 and Bloomberg Radio dot Com. This is Bloomberg Daybreak, and 0:21:45.119 --> 0:21:47.840 we're coming up to five thirty on Wall Street good morning. 0:21:47.880 --> 0:21:50.919 I'm Karen Moscow and I'm John Sucker. This is your 0:21:51.000 --> 0:21:54.600 daily reminder from Innovation Refunds to apply for a payroll 0:21:54.680 --> 0:21:58.960 tax refund if you're smaller medium science business was impacted 0:21:59.000 --> 0:22:03.040 by COVID nineteen Innovation Refunds clients already claimed over two 0:22:03.080 --> 0:22:06.680 billion dollars in payroll tax refunds. Get started at get 0:22:06.760 --> 0:22:10.159 refunds dot com and a nearly four hours away from 0:22:10.200 --> 0:22:11.879 the open of US trading, let's get you have to 0:22:11.920 --> 0:22:13.680 day on the news you need to know at this hour. 0:22:13.800 --> 0:22:16.560 As COVID cases climb in Shina, the US plans to 0:22:16.600 --> 0:22:20.239 require COVID testing for travelers from the country. Officials are 0:22:20.240 --> 0:22:23.439 concerned about new variants and China's lack of transparency with 0:22:23.480 --> 0:22:27.080 COVID data. Italy will also begin testing arrivals from China 0:22:27.119 --> 0:22:29.520 and wants other European countries to do the same. And 0:22:29.680 --> 0:22:32.119 we have news on the war in Ukraine this morning. 0:22:32.400 --> 0:22:36.240 Russian Foreign Minister Sergei Lavrov says Moscow will not enter 0:22:36.320 --> 0:22:40.160 into negotiations and the war. The hardline stance comes as 0:22:40.280 --> 0:22:44.560 Rossia launched another missile barrage major major cities in Ukraine. 0:22:44.920 --> 0:22:48.080 Former Defense Secretary Mark answer says the US can and 0:22:48.119 --> 0:22:51.960 should provide further support for Ukraine. It's important that we 0:22:52.040 --> 0:22:54.480 hold on, but at the same time give Ukraine what 0:22:54.560 --> 0:22:56.199 they need to win. They have the will, they have 0:22:56.280 --> 0:22:58.720 the courage, they had the resolved, They've been showing a 0:22:58.800 --> 0:23:01.000 great deal of grit and success on the battlefield. We 0:23:01.040 --> 0:23:04.119 need to help enable that. Former Defense Secretary Mark Asper, 0:23:04.160 --> 0:23:06.840 you're speaking with David Weinston on Bloomberg's Balance of Power 0:23:06.840 --> 0:23:09.600 at Catch to the show weekdays at noon on Bloomberg 0:23:09.680 --> 0:23:12.640 Radio and television. Well to All Street Now, John, We're 0:23:12.720 --> 0:23:15.639 layoffs are front end center. Goldman Siance is working on 0:23:15.680 --> 0:23:18.680 a fresh round of staff cuts. CEO David Solomon made 0:23:18.680 --> 0:23:21.200 the announcement in his year end message to staff, saying 0:23:21.240 --> 0:23:24.040 the cuts will be unveiled in a matter of weeks. Man, Karen, 0:23:24.080 --> 0:23:27.160 looking at markets right now. US futures for now, they're 0:23:27.280 --> 0:23:30.800 higher following two days of losses, COVID concerns out of China. 0:23:30.920 --> 0:23:34.200 Weighing on set of it. Jonathan gobubhead of US Equity 0:23:34.200 --> 0:23:37.720 Strategy of Credit Sweet says steady wages can provide some 0:23:37.840 --> 0:23:41.919 stability in three Wages don't look like they're gonna fall 0:23:41.960 --> 0:23:44.440 as much for the average consumer. They're going to get 0:23:44.440 --> 0:23:47.879 a stronger wage increase the things they fired, and we 0:23:48.040 --> 0:23:50.040 are going to go off as much as their wages, 0:23:50.400 --> 0:23:54.399 and yet jobs are really plentiful. Jonathan Gallub with Credit 0:23:54.440 --> 0:23:57.480 Sweet says he thinks there would be positive market movement 0:23:57.920 --> 0:24:01.120 in early next year. And John, the travel meltdown that's 0:24:01.119 --> 0:24:04.480 stranded thousands of passenger shows no signs of slowing as 0:24:04.480 --> 0:24:07.920 the airline continues canceling flights and Bloomberg. Steve Rappaport joins 0:24:07.960 --> 0:24:10.720