1
00:00:02,080 --> 00:00:05,560
Speaker 1: By from the Bloomberg Interactive Brooker Studios is Bloomberg day

2
00:00:05,559 --> 00:00:10,000
Speaker 1: Break for Monday, June two, coming up this hour. Reaction

3
00:00:10,119 --> 00:00:13,320
Speaker 1: continues to pour into the Supreme Court's decision to overturn

4
00:00:13,360 --> 00:00:16,239
Speaker 1: abortion rights. Russia defaults on its foreign debt for the

5
00:00:16,280 --> 00:00:19,840
Speaker 1: first time since nine eighteen, and one of Wall Street's

6
00:00:19,840 --> 00:00:23,479
Speaker 1: biggest bears sees the market rally continuing before another sell

7
00:00:23,520 --> 00:00:27,360
Speaker 1: off man faces chargers after he backslap former Mayor Giuliani.

8
00:00:27,480 --> 00:00:30,640
Speaker 1: Plus New York's annual Pride Parade took a different zone

9
00:00:30,680 --> 00:00:33,559
Speaker 1: after last week's Supreme Court abortion ruling. I'm Michael bar

10
00:00:33,760 --> 00:00:37,480
Speaker 1: More Ahead, I'm John stashon Sports, another eron Judd walk Off,

11
00:00:37,600 --> 00:00:40,400
Speaker 1: Yankee win, the Mets loss in the Colorado Avalanche or

12
00:00:40,520 --> 00:00:46,680
Speaker 1: Stanley Cup Champion. That's All's training head on Bloomberg day

13
00:00:46,680 --> 00:00:51,560
Speaker 1: Break on Bloomberg he Living three on New York, Bloomberg one, Washington,

14
00:00:51,680 --> 00:00:55,320
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine

15
00:00:55,360 --> 00:00:59,600
Speaker 1: sixties and Francisco Sirius x M one nineteen and around

16
00:00:59,600 --> 00:01:02,480
Speaker 1: the world on Bloomberg Radio dot Com and via the

17
00:01:02,480 --> 00:01:09,840
Speaker 1: Bloomberg Business app. And Good Morning, I'm Karen Moscow I'm

18
00:01:09,920 --> 00:01:13,000
Speaker 1: Nathan Hagar. Bloomberg Daybreak is brought to you by Informatica.

19
00:01:13,120 --> 00:01:15,000
Speaker 1: In the Cloud, your data has the power to do

20
00:01:15,040 --> 00:01:18,160
Speaker 1: the extraordinary. Managed data across any location in the cloud

21
00:01:18,200 --> 00:01:22,640
Speaker 1: for accurate and actionable insights. More at Informatica, dot Com

22
00:01:22,640 --> 00:01:25,319
Speaker 1: and US futures are higher this morning, Thabo one on

23
00:01:25,360 --> 00:01:27,520
Speaker 1: Wall Street, and we check the markets every fifteen minutes

24
00:01:27,560 --> 00:01:30,560
Speaker 1: throughout the trading day. On bloomberg SMP future is up

25
00:01:30,560 --> 00:01:33,600
Speaker 1: twenty points down, futures up a hundred sixteen and NASDAG

26
00:01:33,640 --> 00:01:36,560
Speaker 1: futures up a D two ten year Treasury down four

27
00:01:36,600 --> 00:01:39,039
Speaker 1: thirty seconds. You have three point one four percent and

28
00:01:39,040 --> 00:01:42,080
Speaker 1: a yield on the two year three point oh five percent,

29
00:01:42,160 --> 00:01:45,240
Speaker 1: and NIMEX screwed oils down seven tenths per cent. Nathan,

30
00:01:45,360 --> 00:01:46,920
Speaker 1: all right, Karen, We'll have more on the markets in

31
00:01:47,000 --> 00:01:49,600
Speaker 1: a moment, but we begin this morning in the nation's capital,

32
00:01:49,640 --> 00:01:53,320
Speaker 1: where the Supreme Court's decision to overturn abortion rights continues

33
00:01:53,360 --> 00:01:56,880
Speaker 1: to reverberate. Democratic Senator Elizabeth Warren says the court has

34
00:01:56,960 --> 00:02:01,400
Speaker 1: burned its own legitimacy. We have never left individual rights

35
00:02:01,760 --> 00:02:06,400
Speaker 1: to the states. The whole idea is that women are

36
00:02:06,480 --> 00:02:10,680
Speaker 1: not second class citizens, and the government is not the

37
00:02:10,720 --> 00:02:14,560
Speaker 1: one that will decide about the continuation of a pregnancy.

38
00:02:14,680 --> 00:02:17,960
Speaker 1: Speaking on ABC's This Week, Senator Warren says President Biden

39
00:02:17,960 --> 00:02:21,120
Speaker 1: should add more justices to the Supreme Court. South Dakota

40
00:02:21,240 --> 00:02:23,560
Speaker 1: is one of thirteen states with trigger laws that banned

41
00:02:23,560 --> 00:02:26,840
Speaker 1: most abortions. Republican Governor Christie Nome says her state will

42
00:02:26,880 --> 00:02:30,200
Speaker 1: work to get resources to women with unplanned pregnancies. I

43
00:02:30,240 --> 00:02:31,960
Speaker 1: think we'll continue to have those debates on how we

44
00:02:31,960 --> 00:02:34,200
Speaker 1: can support these mothers and what it means to really

45
00:02:34,240 --> 00:02:37,360
Speaker 1: make sure that we're not prosecuting mothers. Ever, in a

46
00:02:37,440 --> 00:02:39,959
Speaker 1: situation like this when it comes to abortion, that it

47
00:02:40,000 --> 00:02:43,520
Speaker 1: will always be focused towards those doctors who knowingly break

48
00:02:43,560 --> 00:02:46,359
Speaker 1: the law to perform abortions in our state. Governor Christie

49
00:02:46,400 --> 00:02:49,119
Speaker 1: Nome spoke on CBSS Face the Nation, Listen for Face

50
00:02:49,160 --> 00:02:52,000
Speaker 1: the Nation and this week every Sunday on Bloomberg Radio,

51
00:02:52,280 --> 00:02:55,639
Speaker 1: Well Nathan. Another major story this morning brings us to Europe.

52
00:02:55,680 --> 00:02:58,280
Speaker 1: In a meeting of leaders from the Group of Seven countries.

53
00:02:58,360 --> 00:03:01,320
Speaker 1: They have committed to indefinite supool to Ukraine and it's

54
00:03:01,320 --> 00:03:05,640
Speaker 1: fight against Russia. Bloomberg's and Bacheter has the story. President

55
00:03:05,720 --> 00:03:08,560
Speaker 1: Joe Biden says any other course would be dangerous for

56
00:03:08,639 --> 00:03:12,959
Speaker 1: world democracy. Have to stay together because prudentess been counting

57
00:03:12,960 --> 00:03:17,160
Speaker 1: off from the beginning. Somehow NATO would in the G

58
00:03:17,360 --> 00:03:21,240
Speaker 1: seven would splinter. The group also signed onto a Biden

59
00:03:21,280 --> 00:03:24,840
Speaker 1: forged program called Build Back Better World Initiative to attack

60
00:03:24,880 --> 00:03:28,000
Speaker 1: the problems met by the local economy and climate change.

61
00:03:28,400 --> 00:03:31,280
Speaker 1: In San Francisco, I'm at Baxter Bloomberg day break, All right,

62
00:03:31,280 --> 00:03:32,880
Speaker 1: and thank you. A couple of other notes from the

63
00:03:32,880 --> 00:03:35,200
Speaker 1: G seven leaders will begin a second day of talks

64
00:03:35,200 --> 00:03:38,600
Speaker 1: in the Bavarian Alps, with Ukrainian President Vladimir z Lensky

65
00:03:38,680 --> 00:03:40,960
Speaker 1: due to join the summit by video link from Kiev.

66
00:03:41,280 --> 00:03:44,280
Speaker 1: A senior US Administration official tells reporters of the G

67
00:03:44,440 --> 00:03:47,320
Speaker 1: seven will also explore ways to set a price cap

68
00:03:47,360 --> 00:03:49,840
Speaker 1: on Russian oil. That potential cap would only allow the

69
00:03:49,880 --> 00:03:53,720
Speaker 1: transport of Russian crew sold below in a greed threshold. Well, Nathan,

70
00:03:53,760 --> 00:03:56,680
Speaker 1: that news comes as Russia default and its foreign currency

71
00:03:56,840 --> 00:03:59,360
Speaker 1: sovereign debt for the first time in a century. And

72
00:03:59,400 --> 00:04:00,960
Speaker 1: let's go to your up and get the latest Live

73
00:04:01,040 --> 00:04:03,800
Speaker 1: with the Bloomberg's un Potts good morning you and good

74
00:04:03,800 --> 00:04:07,440
Speaker 1: morning kardon Nathan. It's Russia's foreign first foreign sovereign debt

75
00:04:07,440 --> 00:04:10,880
Speaker 1: to faults since nineteen eighteen. At midnight last night, the

76
00:04:10,920 --> 00:04:13,520
Speaker 1: grace period on about a hundred million dollars of interest

77
00:04:13,520 --> 00:04:17,760
Speaker 1: payments expired, a deadline considered a defaults events. Russia's Your

78
00:04:17,760 --> 00:04:20,400
Speaker 1: bonds have traded at the stress level since March, with

79
00:04:20,480 --> 00:04:24,080
Speaker 1: the Central banks fun reserves frozen because of sanctions. Moscow

80
00:04:24,160 --> 00:04:26,640
Speaker 1: says that the fault label is a face, saying it

81
00:04:26,680 --> 00:04:29,880
Speaker 1: has the funds available but has been forced into non payments.

82
00:04:30,040 --> 00:04:31,960
Speaker 1: In London, I'm you and parts been make daybreak? Are

83
00:04:32,080 --> 00:04:33,880
Speaker 1: you and thank you? We now turned back to markets

84
00:04:33,920 --> 00:04:36,599
Speaker 1: or US futures are moving higher this morning. The SMP

85
00:04:36,680 --> 00:04:39,239
Speaker 1: five hundreds coming off its first weekly gain in a month,

86
00:04:39,440 --> 00:04:41,840
Speaker 1: and one of the most prominent bears on Wall Street

87
00:04:41,880 --> 00:04:46,080
Speaker 1: sees this rally continuing temporarily. Morgan Stanley strategist Michael Wilson

88
00:04:46,160 --> 00:04:48,719
Speaker 1: says the SMP five hundred could climb another five to

89
00:04:48,800 --> 00:04:52,680
Speaker 1: seven percent before resuming law says well, Nathan. Mike Wilson's

90
00:04:52,720 --> 00:04:55,160
Speaker 1: call comes as we enter the final trading week of

91
00:04:55,240 --> 00:04:57,680
Speaker 1: the month and the second quarter. We get more from

92
00:04:57,720 --> 00:05:01,600
Speaker 1: Bloomberg's Charley Pellett. Earnings from major retailers will hint at

93
00:05:01,600 --> 00:05:05,520
Speaker 1: how consumers are holding up. Traders and investors, though, remain

94
00:05:05,640 --> 00:05:09,080
Speaker 1: concerned about recession fears and how far the Fed will

95
00:05:09,120 --> 00:05:12,760
Speaker 1: need to raise rates to control inflation. Kevin Holt is

96
00:05:12,880 --> 00:05:16,159
Speaker 1: chief investment officer at Investco. I think, Rache, You're going

97
00:05:16,200 --> 00:05:18,440
Speaker 1: to continue to move higher throughout the year. I think

98
00:05:18,440 --> 00:05:21,240
Speaker 1: we're likely to have earnings disappointments in Q two which

99
00:05:21,240 --> 00:05:24,760
Speaker 1: are going to create more attractive entry points probably later

100
00:05:24,800 --> 00:05:26,760
Speaker 1: in the year, either Q three or Q four. Among

101
00:05:26,800 --> 00:05:30,760
Speaker 1: the consumer facing companies reporting earnings this week are Nike, Bed,

102
00:05:30,800 --> 00:05:34,560
Speaker 1: Bathroom Beyond, and Walgreen's Boots Alliance. Will also hear from

103
00:05:34,560 --> 00:05:40,440
Speaker 1: Constellation Brands, General Mills, Micron Technology, and Paychecks in New York,

104
00:05:40,560 --> 00:05:43,400
Speaker 1: Charlie Pellett Bloomberg day Break. All right, Charlie, thank you.

105
00:05:43,440 --> 00:05:46,240
Speaker 1: In Asia, overnight stocks gained to begin the week. Let's

106
00:05:46,279 --> 00:05:49,320
Speaker 1: get the recap from Bloomberg Daybreak Asia anchor Brian Curtis

107
00:05:49,360 --> 00:05:52,400
Speaker 1: in Hong Kong. A strong day for risk assets in Asia.

108
00:05:52,640 --> 00:05:54,680
Speaker 1: The m s c I Asia Pacific Index who is

109
00:05:54,760 --> 00:05:57,680
Speaker 1: up for a third day, powered by Ali Baba, Samsung,

110
00:05:57,720 --> 00:06:01,280
Speaker 1: and other tech companies. The recent dropping commodity prices has

111
00:06:01,360 --> 00:06:05,039
Speaker 1: led some investors to bet that inflation has peaked. Quarterly

112
00:06:05,080 --> 00:06:09,120
Speaker 1: rebalancing by institutional investors could also be weighing in. Other

113
00:06:09,200 --> 00:06:12,800
Speaker 1: positives include a modest improvement in China's economy in June

114
00:06:13,120 --> 00:06:16,279
Speaker 1: and the further easing of COVID restrictions in the country

115
00:06:16,320 --> 00:06:19,400
Speaker 1: in Hong Kong. Brian Curtis Bloomberg Gabrie Brian, thank you

116
00:06:19,440 --> 00:06:22,520
Speaker 1: on the economic front this week, it's all about monetary policy.

117
00:06:22,680 --> 00:06:25,359
Speaker 1: Central bank cheese from the US, the Eurozone and the

118
00:06:25,480 --> 00:06:28,839
Speaker 1: UK will exchange of views in public. On Wednesday, fed

119
00:06:28,880 --> 00:06:32,039
Speaker 1: Share J. Powell, ECB president Christine Leguard and Bank of

120
00:06:32,080 --> 00:06:35,599
Speaker 1: England Governor Andrew Bailey appeared together at the ECB's annual

121
00:06:35,680 --> 00:06:39,000
Speaker 1: meeting and the Portuguese resort of CenTra, and so will.

122
00:06:39,040 --> 00:06:42,640
Speaker 1: Bloomberg's Francy Lankoa. Francine sits down for a conversation with

123
00:06:42,680 --> 00:06:45,599
Speaker 1: all three live right here on Bloomberg Radio and Television.

124
00:06:45,760 --> 00:06:49,000
Speaker 1: It all begins at nine thirty Wall Street Time, Wednesday morning.

125
00:06:49,240 --> 00:06:52,320
Speaker 1: And checking commodities this morning, Karen gold is on the rise.

126
00:06:52,360 --> 00:06:55,440
Speaker 1: It's up about a half percent at eighteen forty announce

127
00:06:56,040 --> 00:06:59,680
Speaker 1: despite comes as the US, UK, Japan, and Canada plans

128
00:06:59,680 --> 00:07:02,359
Speaker 1: when now to ban on new gold imports from Russia

129
00:07:02,760 --> 00:07:05,680
Speaker 1: during the G seven summit. Sources say the Treasury Department

130
00:07:05,760 --> 00:07:08,760
Speaker 1: will issue the US ban on Russian gold tomorrow. And

131
00:07:08,839 --> 00:07:11,440
Speaker 1: now SMP futures are up sixteen points. Now futures up

132
00:07:11,520 --> 00:07:15,040
Speaker 1: nine NASTACK futures are higher by sixty seven points. Straight

133
00:07:15,040 --> 00:07:17,480
Speaker 1: ahead your latest local headlines in the check of sports.

134
00:07:17,520 --> 00:07:24,800
Speaker 1: This is Bloomberg six. That's five oh seven on Wall

135
00:07:24,840 --> 00:07:27,679
Speaker 1: Street work seventy four degrees in Central Park. Already dealing

136
00:07:27,680 --> 00:07:30,280
Speaker 1: with a closure on the Belt Parkway westbound at the

137
00:07:30,320 --> 00:07:33,320
Speaker 1: Cross Bay Boulevard. More coming up in traffic. First Michael

138
00:07:33,320 --> 00:07:35,080
Speaker 1: Barr with more on what's going on in New York

139
00:07:35,120 --> 00:07:37,360
Speaker 1: and around the world. Good morning, might call Good Morning. Nathan,

140
00:07:37,360 --> 00:07:41,000
Speaker 1: a Staten Island grocery store worker, was arrested after police

141
00:07:41,000 --> 00:07:43,720
Speaker 1: saying he slapped Rudy Giuliani on the back and called

142
00:07:43,760 --> 00:07:46,840
Speaker 1: him a disparaging name. Authorities say the former New York

143
00:07:46,880 --> 00:07:49,600
Speaker 1: City mayor and Trump attorney was at a shop right

144
00:07:49,720 --> 00:07:54,160
Speaker 1: near Bricktown in the campaigning for his son Andrew when

145
00:07:54,160 --> 00:07:57,680
Speaker 1: the incident happened near Bricktown Way. Police say the thirty

146
00:07:57,760 --> 00:08:01,360
Speaker 1: nine year old shop Right worker open and slap Giuliani.

147
00:08:01,680 --> 00:08:05,560
Speaker 1: He's facing second degree assault charges for hitting Giuliani, who

148
00:08:05,600 --> 00:08:09,240
Speaker 1: was seventy eight. Andrew Giuliani is currently running to be

149
00:08:09,480 --> 00:08:13,600
Speaker 1: the GOP nominee in the New York governor's race. Tomorrow,

150
00:08:13,720 --> 00:08:16,880
Speaker 1: seven states, including New York, are set to host primary

151
00:08:16,920 --> 00:08:20,920
Speaker 1: elections for the Democrats. New York Governor Kathy Hoco faces

152
00:08:20,960 --> 00:08:26,160
Speaker 1: Tom Swasse and Jamanni Williams for the gubernatorial nomination. Rob Astino,

153
00:08:26,240 --> 00:08:29,280
Speaker 1: Andrew Giuliani, Harry Wilson, and Les Eldon are running for

154
00:08:29,520 --> 00:08:33,880
Speaker 1: the GOP nomination for governor. Crowds and rainbow colors covered

155
00:08:33,880 --> 00:08:37,240
Speaker 1: Manhattan's Fifth Avenue yesterday for the annual New York City

156
00:08:37,280 --> 00:08:41,640
Speaker 1: Pride Parade. It is the first unrestricted celebration in two years.

157
00:08:41,679 --> 00:08:44,920
Speaker 1: This parade goer is thankful for the return to normalcy.

158
00:08:45,200 --> 00:08:48,760
Speaker 1: I'm so glad that people coming out uniting, having a

159
00:08:48,840 --> 00:08:52,720
Speaker 1: great time be uncomfortable for the filling state. The parade,

160
00:08:52,800 --> 00:08:55,760
Speaker 1: the largest in the country, marks the history of the

161
00:08:55,800 --> 00:08:59,040
Speaker 1: gay rights movement following the infamous police raid on the

162
00:08:59,080 --> 00:09:02,160
Speaker 1: Stone Wall in It helped the push for equality in

163
00:09:02,200 --> 00:09:06,679
Speaker 1: the LGBT HUME community. However, Chase Strange GEO with the

164
00:09:06,720 --> 00:09:09,720
Speaker 1: a c l U says he is concerned about those

165
00:09:09,840 --> 00:09:14,080
Speaker 1: rights after Friday Supreme Court ruling on abortion overturning Roe v. Wade.

166
00:09:14,240 --> 00:09:16,880
Speaker 1: There are thirteen states already where people are no longer

167
00:09:16,920 --> 00:09:19,720
Speaker 1: able to access abortion, and there are LGBTQ people in

168
00:09:19,760 --> 00:09:22,280
Speaker 1: those states, So there is an immediate impact. And then,

169
00:09:22,320 --> 00:09:24,880
Speaker 1: of course I don't think we can sit by and

170
00:09:24,920 --> 00:09:29,080
Speaker 1: think that other monumental Supreme Corps presidents are fine. Chase

171
00:09:29,080 --> 00:09:32,760
Speaker 1: Strange e O is the Deputy Director for Transgender Justice

172
00:09:32,800 --> 00:09:36,040
Speaker 1: with the a c l US LGBT and HIV Project.

173
00:09:36,280 --> 00:09:38,439
Speaker 1: The New York subway lines are going to speed it

174
00:09:38,559 --> 00:09:41,480
Speaker 1: up a bit, according to the New York Daily News.

175
00:09:41,559 --> 00:09:44,520
Speaker 1: Starting today, the two, three, four, and five lines were

176
00:09:44,520 --> 00:09:48,040
Speaker 1: one on a faster weekday schedule, Global News twenty four

177
00:09:48,040 --> 00:09:50,800
Speaker 1: hours a day on air and on Bloomberg Quick Tank,

178
00:09:51,040 --> 00:09:54,040
Speaker 1: powered by more than twenty seven hundred journalists and analysts

179
00:09:54,080 --> 00:09:57,559
Speaker 1: more than a hundred twenty countries. Michael barn this is Bloomberg. Nathan,

180
00:09:57,679 --> 00:10:04,360
Speaker 1: all right, Michael, thank you, coming up to five ten

181
00:10:04,400 --> 00:10:06,680
Speaker 1: on Ball Street. Time for the Bloomberg Sports Update with

182
00:10:06,760 --> 00:10:09,320
Speaker 1: John stash Our, Thanks Dad. In five years ago, the

183
00:10:09,400 --> 00:10:12,720
Speaker 1: Colorado avalantea one of the worst regular seasons in NHL history,

184
00:10:12,720 --> 00:10:15,320
Speaker 1: only forty eight points. Playoff team the next four seasons,

185
00:10:15,320 --> 00:10:17,720
Speaker 1: but always out by the second round. In these playoffs,

186
00:10:18,080 --> 00:10:21,120
Speaker 1: they were dominating last night in Tampa. The Stanley Cup

187
00:10:21,280 --> 00:10:25,960
Speaker 1: was hoist kids four seconds, three seconds, two seconds, one seconds.

188
00:10:26,600 --> 00:10:36,000
Speaker 1: That's all right, the job It's done, the Colorado Avalance.

189
00:10:36,480 --> 00:10:40,440
Speaker 1: More Stanley to chat k s and denver the calls.

190
00:10:40,480 --> 00:10:42,920
Speaker 1: The ass fell behind score twice second period that held

191
00:10:42,920 --> 00:10:44,880
Speaker 1: the Lightning without a shot on goal for the first

192
00:10:44,920 --> 00:10:46,960
Speaker 1: ten minutes of the third day one game six two

193
00:10:46,960 --> 00:10:49,880
Speaker 1: to one. The Lightning denied a third Cup in a row.

194
00:10:49,920 --> 00:10:53,000
Speaker 1: The Yankee Astro Series and the Proms began and ended

195
00:10:53,360 --> 00:10:56,280
Speaker 1: with Aaron Judge walk off hits in between. Judge went

196
00:10:56,320 --> 00:10:59,040
Speaker 1: over eleven and the Yankees yesterday came up in the

197
00:10:59,080 --> 00:11:02,040
Speaker 1: seventh inning heaving on oh for their last fifty two

198
00:11:02,240 --> 00:11:05,120
Speaker 1: sixteen innings without a hit, but a John Carlos Stanton

199
00:11:05,160 --> 00:11:07,720
Speaker 1: home run at d J Lemeho game time, two run

200
00:11:07,760 --> 00:11:09,840
Speaker 1: shot in the eighth, and then a three run blast

201
00:11:09,880 --> 00:11:12,200
Speaker 1: by Judge in the tent for a six three Yankee

202
00:11:12,200 --> 00:11:13,880
Speaker 1: win in the split of the series. The Yanks now

203
00:11:13,960 --> 00:11:16,680
Speaker 1: thirty one and nine at home, and tonight they host

204
00:11:16,679 --> 00:11:18,880
Speaker 1: the lowly Oakland A's. The Mets are off. They'll host

205
00:11:18,920 --> 00:11:21,640
Speaker 1: the Astros tomorrow. Mets lost in Miami three to two

206
00:11:21,960 --> 00:11:23,720
Speaker 1: on a welk Off home one, bottom of ninth by

207
00:11:23,760 --> 00:11:27,600
Speaker 1: the Marlin vic Fortez golfner Hartfords Andrews Shoffley got the win.

208
00:11:27,679 --> 00:11:31,160
Speaker 1: Twenty three year old Matthew Wolf finished and then came

209
00:11:31,200 --> 00:11:34,040
Speaker 1: word he's leaving the PGA Tour and heading for the

210
00:11:34,080 --> 00:11:37,080
Speaker 1: new LIMP Tour, which has a tournament this week in Portland.

211
00:11:37,200 --> 00:11:40,280
Speaker 1: John Stash Howard Bloomberg sports name. All right, John, thank

212
00:11:40,320 --> 00:11:44,160
Speaker 1: you right now. SNP futures are higher by sixteen points

213
00:11:44,160 --> 00:11:46,760
Speaker 1: as we get ready for the final trading week. At

214
00:11:46,760 --> 00:11:49,760
Speaker 1: the second quarter, DAL futures up eighty nine AT futures

215
00:11:49,800 --> 00:11:52,240
Speaker 1: up sixty five points. The tenure treasury is down five

216
00:11:52,320 --> 00:11:56,559
Speaker 1: thirty seconds, the yield almost three point one five. Lori Calvasina,

217
00:11:56,720 --> 00:12:00,000
Speaker 1: head of view i S Equity Strategy at RBC Capital Markets,

218
00:12:00,040 --> 00:12:03,400
Speaker 1: joins us next to look at these markets. This is Bloomberg.

219
00:12:07,760 --> 00:12:09,400
Speaker 1: Bloomberg Gay break is brought to you by the New

220
00:12:09,480 --> 00:12:11,360
Speaker 1: York Community Trust. Your name will live on as a

221
00:12:11,440 --> 00:12:13,439
Speaker 1: champion of the causes you care about for years to

222
00:12:13,480 --> 00:12:16,040
Speaker 1: come through a charitable request to the New York Community Trust.

223
00:12:16,160 --> 00:12:23,280
Speaker 1: Learn more at Philanthropist dot n y C. Markets headlines

224
00:12:23,320 --> 00:12:26,319
Speaker 1: and breaking news twenty four hours a day at Bloomberg

225
00:12:26,360 --> 00:12:29,760
Speaker 1: dot com, the Bloomberg Business Outland at Bloomberg Quick Tape.

226
00:12:29,960 --> 00:12:39,079
Speaker 1: This is a Bloomberg Business lash and I'm Cameron Moscow.

227
00:12:39,160 --> 00:12:42,679
Speaker 1: Global stocks are extending gains after posting their best performance

228
00:12:42,679 --> 00:12:45,240
Speaker 1: in a month last week, while US stock index futures

229
00:12:45,240 --> 00:12:48,080
Speaker 1: are rising, with tech stocks that to extend gains following

230
00:12:48,120 --> 00:12:50,840
Speaker 1: their best week since March. Check the markets every fifteen

231
00:12:50,880 --> 00:12:54,520
Speaker 1: minutes throughout the trading day on Bloomberg, SNP futures up

232
00:12:54,600 --> 00:12:58,040
Speaker 1: nineteen points down, futures up a hundred thirteen nasday futures up.

233
00:12:59,040 --> 00:13:01,959
Speaker 1: The decks in Germany is at one point one percent ten.

234
00:13:02,000 --> 00:13:04,480
Speaker 1: Your treasury down five thirty seconds. You have three point

235
00:13:04,480 --> 00:13:06,720
Speaker 1: one four percent the yield on the two year three

236
00:13:06,720 --> 00:13:09,640
Speaker 1: point oh five percent. Nine max Screwed oil is down

237
00:13:09,679 --> 00:13:11,880
Speaker 1: half percent or fifty one cents at a hundred seven

238
00:13:11,920 --> 00:13:14,920
Speaker 1: dollars thirteen cents of barrel comics gold up six tenths

239
00:13:14,960 --> 00:13:17,800
Speaker 1: per cent, or ten dollars twenty cents at eighteen forty fifty.

240
00:13:17,800 --> 00:13:21,280
Speaker 1: Announced the euro one point five eight five against the dollar,

241
00:13:21,360 --> 00:13:23,880
Speaker 1: British found one point to three oh seven and again

242
00:13:23,960 --> 00:13:26,679
Speaker 1: one thirty five point oh six. And as a Bloomberg

243
00:13:26,679 --> 00:13:29,160
Speaker 1: Business flash, now here's Michael Barr with more on what's

244
00:13:29,160 --> 00:13:32,280
Speaker 1: going on around the world. Michael, good morning, Good morning, Karen.

245
00:13:32,360 --> 00:13:36,000
Speaker 1: South Dakota Republican Governor Christine Nome is pledging to bar

246
00:13:36,280 --> 00:13:40,880
Speaker 1: mail order abortion pills, but says women shouldn't face prosecution

247
00:13:40,960 --> 00:13:44,120
Speaker 1: for seeing them. The Supreme Court last week stripped away

248
00:13:44,240 --> 00:13:48,880
Speaker 1: women's rights for abortion. Russia has shattered weeks of relative

249
00:13:48,880 --> 00:13:52,040
Speaker 1: calm in Ukraine's capital with a missile attack, as Western

250
00:13:52,200 --> 00:13:55,280
Speaker 1: leaders meeting in Europe prepared to reaffirm their support for

251
00:13:55,440 --> 00:13:59,600
Speaker 1: Ukraine and condemnation of Russia. In the NHL, the Avalanche

252
00:14:00,000 --> 00:14:03,200
Speaker 1: have won the Stanley Cup after beating the Lightning. In baseball,

253
00:14:03,240 --> 00:14:06,079
Speaker 1: the Yankees one, the Men's lost the Red Sox Nationals

254
00:14:06,080 --> 00:14:10,120
Speaker 1: in A's one. The Orioles and Giants lost. Global News

255
00:14:10,160 --> 00:14:13,079
Speaker 1: twenty four hours a day on air and on Bloomberg

256
00:14:13,120 --> 00:14:16,240
Speaker 1: quick Take powered by more than twenty seven hundred journalists

257
00:14:16,240 --> 00:14:19,480
Speaker 1: and analysts more than twenty countries. Michael Barr and this

258
00:14:19,640 --> 00:14:22,840
Speaker 1: is Bloomberg. Nathan Okay, Michael, thank you. It's five nineteen

259
00:14:22,920 --> 00:14:26,000
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.

260
00:14:26,040 --> 00:14:28,880
Speaker 1: This is Bloomberg Daybreak as we get ready to close

261
00:14:28,960 --> 00:14:31,640
Speaker 1: the books on the second quarter. We're very pleased to

262
00:14:31,640 --> 00:14:34,560
Speaker 1: be joined this morning by Lori Calvacina, Chief US equity

263
00:14:34,600 --> 00:14:38,040
Speaker 1: strategist at RBC Capital Markets. Lorie, good morning. You look

264
00:14:38,080 --> 00:14:40,400
Speaker 1: at the futures and it looks like we could see

265
00:14:40,440 --> 00:14:43,320
Speaker 1: even more games after last week's winning week for a

266
00:14:43,400 --> 00:14:45,360
Speaker 1: change on Wall Street. Now we even have the likes

267
00:14:45,400 --> 00:14:47,880
Speaker 1: of Mike Wilson and Morgan Stanley, one of Wall Street's

268
00:14:47,920 --> 00:14:50,960
Speaker 1: biggest bears, saying this rally has more room to run

269
00:14:51,000 --> 00:14:54,440
Speaker 1: at least for now. What's your call. Look, we have

270
00:14:54,840 --> 00:14:58,560
Speaker 1: looked at the market as pricing and a potential recession,

271
00:14:58,760 --> 00:15:00,800
Speaker 1: and we have said that there's such pentel downside to

272
00:15:01,160 --> 00:15:04,520
Speaker 1: fred which would be the median draw down or level,

273
00:15:04,720 --> 00:15:07,040
Speaker 1: which would be about the average draw down. That being said,

274
00:15:07,080 --> 00:15:09,520
Speaker 1: markets could change their mind at any point in time,

275
00:15:09,960 --> 00:15:12,080
Speaker 1: and one of the reasons that we think that markets

276
00:15:12,080 --> 00:15:14,200
Speaker 1: are acting a little bit better. Over the last couple

277
00:15:14,200 --> 00:15:17,800
Speaker 1: of weeks has just been this idea of a short

278
00:15:17,840 --> 00:15:21,520
Speaker 1: and shallow recession potentially being what's confronting investors, And if

279
00:15:21,560 --> 00:15:24,360
Speaker 1: we talk to investors, there's a sense that if that

280
00:15:24,480 --> 00:15:26,280
Speaker 1: end that being the case, you could really just sort

281
00:15:26,320 --> 00:15:28,040
Speaker 1: of rip off the band aid, get the pain out

282
00:15:28,040 --> 00:15:30,360
Speaker 1: of the way in the next few months, and earnings

283
00:15:30,360 --> 00:15:33,480
Speaker 1: could still look reasonable for next year, thereby providing a

284
00:15:33,560 --> 00:15:35,680
Speaker 1: reason to jump into this market now. And now we'll

285
00:15:35,720 --> 00:15:37,560
Speaker 1: see if that ends up planning out. That That is

286
00:15:37,760 --> 00:15:39,760
Speaker 1: sort of the sentiment I've been taking up for investors

287
00:15:39,760 --> 00:15:41,760
Speaker 1: the last couple of weeks. Now we have the SMP

288
00:15:41,880 --> 00:15:44,960
Speaker 1: five hundred right now at about a thirty d handle.

289
00:15:45,080 --> 00:15:48,560
Speaker 1: What about into the third quarter here, Laurie, we're gonna

290
00:15:48,600 --> 00:15:52,840
Speaker 1: be getting at least this week earnings on the consumer

291
00:15:52,920 --> 00:15:55,800
Speaker 1: facing side, in particular, what kind of catalyst could that be?

292
00:15:55,880 --> 00:15:59,200
Speaker 1: As we hear from a lot of retail names. So look,

293
00:15:59,240 --> 00:16:01,960
Speaker 1: I think the interest same thing about the consumer discretionary

294
00:16:02,000 --> 00:16:03,840
Speaker 1: space is that if you look at the draw down

295
00:16:03,840 --> 00:16:07,000
Speaker 1: that was put in place on Gen sixteen, basically the

296
00:16:07,120 --> 00:16:09,200
Speaker 1: pain that was in line with that that part of

297
00:16:09,280 --> 00:16:12,440
Speaker 1: the market since the January hives was consistent with the

298
00:16:12,520 --> 00:16:15,960
Speaker 1: average recession draw down you've seen in that sector over

299
00:16:16,000 --> 00:16:18,840
Speaker 1: the past four recessions. So I don't think that necessarily

300
00:16:18,880 --> 00:16:21,040
Speaker 1: things need to be completely rosy. I think one of

301
00:16:21,040 --> 00:16:22,800
Speaker 1: the reasons that part of the market has been acting

302
00:16:22,840 --> 00:16:25,200
Speaker 1: a little bit better has just been this idea that

303
00:16:25,240 --> 00:16:27,800
Speaker 1: it's been de ripped. But I think that investors are

304
00:16:27,880 --> 00:16:30,320
Speaker 1: looking for clues, you know, just of of what is

305
00:16:30,360 --> 00:16:33,080
Speaker 1: happening in the here and now. I keep hearing investors saying, well,

306
00:16:33,080 --> 00:16:34,520
Speaker 1: we need to get a sense of what's going on

307
00:16:34,600 --> 00:16:36,720
Speaker 1: with July trend. I think it's going to be, you know,

308
00:16:36,760 --> 00:16:39,680
Speaker 1: sort of a very very tricky situation. Um. But I

309
00:16:39,720 --> 00:16:41,880
Speaker 1: do think that investors want to see that, you know,

310
00:16:41,960 --> 00:16:44,520
Speaker 1: sort of any pain that's experience will be short term

311
00:16:44,560 --> 00:16:47,120
Speaker 1: in nature, and that consumers in general, you know, are

312
00:16:47,160 --> 00:16:50,120
Speaker 1: going to be sort of significantly damaged by what's about

313
00:16:50,120 --> 00:16:52,880
Speaker 1: to transpire. Are you looking for earnings to drive the

314
00:16:52,920 --> 00:16:56,240
Speaker 1: market more significantly going forward, or is it going to

315
00:16:56,320 --> 00:17:00,280
Speaker 1: be more about the Fed the interest rate moves that

316
00:17:00,320 --> 00:17:02,840
Speaker 1: the Fed makes in the next few months. I think

317
00:17:02,880 --> 00:17:05,920
Speaker 1: it's a combination of both. I think that investors want

318
00:17:06,000 --> 00:17:09,000
Speaker 1: to have a sense that the FED doesn't want to

319
00:17:09,040 --> 00:17:12,840
Speaker 1: just sort of instigate some sort of deeper, longer recession

320
00:17:12,880 --> 00:17:15,440
Speaker 1: with lasting scars. I think that's one of the things

321
00:17:15,480 --> 00:17:17,760
Speaker 1: we're going to be, you know, seeing market participants look

322
00:17:17,840 --> 00:17:19,240
Speaker 1: forward from the FED. I think, you know, a few

323
00:17:19,280 --> 00:17:22,240
Speaker 1: weeks back when we heard sort of the idea that

324
00:17:22,600 --> 00:17:25,200
Speaker 1: the FED was sort of pulling all the hyps forwards

325
00:17:25,240 --> 00:17:27,160
Speaker 1: so that they could have flexibility later in the year,

326
00:17:27,200 --> 00:17:29,760
Speaker 1: markets did like that kind of talk. So I think

327
00:17:29,800 --> 00:17:31,639
Speaker 1: that's going to be very critical, you know. I do

328
00:17:31,720 --> 00:17:34,359
Speaker 1: think in the short term, earnings are expected to be

329
00:17:35,160 --> 00:17:37,600
Speaker 1: let's robust and what the cell side has been anticipating

330
00:17:37,640 --> 00:17:39,760
Speaker 1: if you ask your average by siders. So I'm not

331
00:17:39,920 --> 00:17:44,000
Speaker 1: so worried about looking at two que three Q and

332
00:17:44,160 --> 00:17:46,840
Speaker 1: having the market necessarily take its queues there. Of course,

333
00:17:46,880 --> 00:17:49,840
Speaker 1: people don't like mrs, but I do think investors are

334
00:17:49,840 --> 00:17:51,920
Speaker 1: really trying to wrap their heads around the longer term

335
00:17:51,920 --> 00:17:54,600
Speaker 1: earnings outlook. One other note we got this morning was

336
00:17:54,640 --> 00:17:58,399
Speaker 1: out of credit Sueez. They're saying that bond yields have

337
00:17:58,560 --> 00:18:01,440
Speaker 1: probably peaked for now, and that might mean that this

338
00:18:01,520 --> 00:18:04,399
Speaker 1: is the time to start adding to cyclical sectors. Is

339
00:18:04,440 --> 00:18:06,480
Speaker 1: your team thinking that bond yields are peaked as well.

340
00:18:07,200 --> 00:18:09,680
Speaker 1: So our rate strategy team has been looking for peak

341
00:18:09,680 --> 00:18:11,480
Speaker 1: and bod yields, and if you know, if you sort

342
00:18:11,480 --> 00:18:13,040
Speaker 1: of look at some of the recent moves, I think

343
00:18:13,040 --> 00:18:16,560
Speaker 1: they surpassed even their expectations. But generally that's their thinking

344
00:18:16,680 --> 00:18:19,639
Speaker 1: and it really goes to the idea that the growth

345
00:18:19,680 --> 00:18:22,480
Speaker 1: pressures will weigh on the yield. Now I wouldn't necessarily

346
00:18:22,520 --> 00:18:24,800
Speaker 1: take that as a cute and biocyclical sectors. I just

347
00:18:24,840 --> 00:18:28,879
Speaker 1: find cyclical the things like the commodities industrials um and

348
00:18:28,920 --> 00:18:31,240
Speaker 1: the financials. I actually think you don't want to buy

349
00:18:31,280 --> 00:18:34,440
Speaker 1: financials and and sort of a back dropling body yields

350
00:18:34,440 --> 00:18:37,520
Speaker 1: are coming in. But the idea of stabilizing the text

351
00:18:37,520 --> 00:18:39,320
Speaker 1: part of the market and the growth part of the market,

352
00:18:39,400 --> 00:18:41,879
Speaker 1: that's what we would expect to see when bond yields

353
00:18:41,880 --> 00:18:44,359
Speaker 1: are coming back in, and that is something that we

354
00:18:44,400 --> 00:18:46,680
Speaker 1: are starting to see and that does end up helping

355
00:18:46,720 --> 00:18:48,920
Speaker 1: stabilize the market. Just when you look at the massive

356
00:18:49,000 --> 00:18:52,480
Speaker 1: share that technology companies the broader tech complex has in

357
00:18:52,560 --> 00:18:55,200
Speaker 1: terms of both market cap and that income in the market.

358
00:18:55,280 --> 00:18:58,520
Speaker 1: So I do think that's a good stabilizing force. Um

359
00:18:58,600 --> 00:19:01,000
Speaker 1: and frankly, I think it's something you know. Specular growth

360
00:19:01,000 --> 00:19:02,919
Speaker 1: is an area that people go to when times are

361
00:19:02,960 --> 00:19:06,080
Speaker 1: uncertain economically or GDP growth is cooling off, and I

362
00:19:06,119 --> 00:19:08,200
Speaker 1: think that's fueling some of this moves back into the

363
00:19:08,240 --> 00:19:11,560
Speaker 1: growth sectors as well as always, LORI great to get

364
00:19:11,600 --> 00:19:14,880
Speaker 1: your thoughts. Thanks for this. Lori Calvacina is chief US

365
00:19:14,920 --> 00:19:19,000
Speaker 1: equity strategist at RBC Capital Markets. As we look at

366
00:19:19,040 --> 00:19:22,000
Speaker 1: the market poise for gains as we get ready to

367
00:19:22,440 --> 00:19:25,160
Speaker 1: kick off the final trading week of the second quarter.

368
00:19:25,200 --> 00:19:28,240
Speaker 1: Here right now, SMP futures are up twenty points, STAFF

369
00:19:28,280 --> 00:19:32,040
Speaker 1: futures up a D nine, NASTAC futures are higher by

370
00:19:32,080 --> 00:19:35,440
Speaker 1: seventy nine points. That's leading the gains this morning. The

371
00:19:35,600 --> 00:19:39,400
Speaker 1: tech sector out performing the docks in Germany is higher

372
00:19:39,480 --> 00:19:42,320
Speaker 1: by one point two percent right now. Tend your treasury

373
00:19:42,359 --> 00:19:45,200
Speaker 1: down six thirty seconds, the yield three point one five percent,

374
00:19:45,359 --> 00:19:47,640
Speaker 1: and the yield on the two year right now three

375
00:19:47,680 --> 00:19:50,680
Speaker 1: point zero six percent. Nim X scrude is down four

376
00:19:50,720 --> 00:19:53,440
Speaker 1: tenths percent, down forty seven cents at a hundred seven

377
00:19:53,440 --> 00:19:58,560
Speaker 1: dollars fourteen cents of barrel stay with us. You are

378
00:19:58,640 --> 00:20:08,760
Speaker 1: listening to Bloomberg day Break Bloomberg eleven three oh weather

379
00:20:08,840 --> 00:20:11,120
Speaker 1: mostly cloudy, scattered showers and storms today with a high

380
00:20:11,119 --> 00:20:13,399
Speaker 1: near eighty degrees. That will be mostly Sunday tomorrow with

381
00:20:13,440 --> 00:20:16,719
Speaker 1: a high near eighty low eighties sunshine for Wednesday. Right

382
00:20:16,760 --> 00:20:28,000
Speaker 1: now in Central Park, broadcasting live from the Bloomberg Interacted

383
00:20:28,040 --> 00:20:31,920
Speaker 1: Broker's studio in New York. Bloomberg E living free to Washington,

384
00:20:32,000 --> 00:20:36,120
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one

385
00:20:36,200 --> 00:20:40,080
Speaker 1: to San Francisco, Bloomberg sixty to the country, Sirius XM

386
00:20:40,160 --> 00:20:43,400
Speaker 1: Chado one nineteen and around the globe, the Bloomberg Business

387
00:20:43,760 --> 00:20:53,560
Speaker 1: and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's

388
00:20:53,600 --> 00:20:56,000
Speaker 1: five thirty on Wall Street. Good morning. I'm Nathan Hagar

389
00:20:56,320 --> 00:20:59,080
Speaker 1: and I'm Karen Moscow. We are just about four hours

390
00:20:59,119 --> 00:21:01,359
Speaker 1: away from the open of US trading. Let's hit you

391
00:21:01,400 --> 00:21:02,679
Speaker 1: up to date of the news you need to know

392
00:21:02,720 --> 00:21:05,480
Speaker 1: at this hour. We begin this morning in the nation's capital,

393
00:21:05,480 --> 00:21:09,200
Speaker 1: where the Supreme Court's decision to overturn abortion rights continues

394
00:21:09,240 --> 00:21:13,359
Speaker 1: to reverberate. Democratic Senator Elizabeth Warren is calling for change

395
00:21:13,359 --> 00:21:16,680
Speaker 1: to the High Court structure. I believe we need to

396
00:21:16,720 --> 00:21:20,360
Speaker 1: get some confidence back in our court, and that means

397
00:21:20,680 --> 00:21:24,040
Speaker 1: we need more justices on the United States Supreme Court.

398
00:21:24,800 --> 00:21:28,080
Speaker 1: Speaking on ABC's This Week, Senator Warren said President Biden

399
00:21:28,119 --> 00:21:31,680
Speaker 1: needs to make abortion as available as possible. South Dakota

400
00:21:31,880 --> 00:21:34,280
Speaker 1: is one of thirteen states with trigger laws that banned

401
00:21:34,280 --> 00:21:38,400
Speaker 1: most abortions. Republican Governor Christie Nome tells ABC her state

402
00:21:38,440 --> 00:21:41,640
Speaker 1: will work to get resources to women with unplanned pregnancies.

403
00:21:41,840 --> 00:21:43,879
Speaker 1: I don't believe there should be any punishment for women

404
00:21:43,920 --> 00:21:46,439
Speaker 1: ever that are in a crisis situation or have an

405
00:21:46,480 --> 00:21:50,480
Speaker 1: unplanned pregnancy. In South Dakota has been strong on that argument,

406
00:21:50,880 --> 00:21:53,600
Speaker 1: and Governor Christie Noome spoke on ABC's This Week. Listen

407
00:21:53,680 --> 00:21:56,640
Speaker 1: to This Week every Sunday on Bloomberg Radio s turn

408
00:21:56,680 --> 00:21:59,280
Speaker 1: overseas Now Karen Group of Seven leaders begin a second

409
00:21:59,320 --> 00:22:02,440
Speaker 1: day of talking of a Varian Alps. Ukrainian President vladimir's

410
00:22:02,520 --> 00:22:04,560
Speaker 1: Lensky is due to join the summit by video link

411
00:22:04,600 --> 00:22:07,800
Speaker 1: from Kiev. It comes after the G seven committed indefinite

412
00:22:07,800 --> 00:22:11,040
Speaker 1: support to Ukraine to fight the Russian invasion. A senior

413
00:22:11,160 --> 00:22:14,200
Speaker 1: US Administration official tells reporters the G seven will also

414
00:22:14,240 --> 00:22:18,480
Speaker 1: explore ways to set a Russian oil price cap Well Nathan.

415
00:22:18,520 --> 00:22:21,320
Speaker 1: That news comes as Russia defaulted on its foreign currency

416
00:22:21,480 --> 00:22:24,840
Speaker 1: sovereign debt for the first time since nineteen eighteen. Bloomberg

417
00:22:24,880 --> 00:22:28,280
Speaker 1: rate score spawning Garfield Reynolds says the default is a

418
00:22:28,359 --> 00:22:32,640
Speaker 1: result of Russia's exclusion from the global financial systems. It's

419
00:22:32,680 --> 00:22:35,240
Speaker 1: not that the money isn't there, it's that the money

420
00:22:35,920 --> 00:22:40,159
Speaker 1: is not allowed to be used for that because of

421
00:22:40,280 --> 00:22:43,040
Speaker 1: the ruling for the US and others that Russia is

422
00:22:43,240 --> 00:22:49,359
Speaker 1: outside of civilized society. Bloomberry's Garfield Reynolds says Russia found

423
00:22:49,400 --> 00:22:53,600
Speaker 1: paths around penalties for months before defaulting. Now, the market's

424
00:22:53,640 --> 00:22:56,000
Speaker 1: Karen we begin of the final trading week of the

425
00:22:56,040 --> 00:22:58,919
Speaker 1: month and the second quarter US futures are higher. The

426
00:22:59,040 --> 00:23:01,639
Speaker 1: SMP five is coming off its first weekly game in

427
00:23:01,680 --> 00:23:05,359
Speaker 1: a month, and one prominent bear sees the rally continuing temporarily.

428
00:23:05,640 --> 00:23:08,879
Speaker 1: Morgan Stanley strategist Michael Wilson says the SMP five hundred

429
00:23:08,920 --> 00:23:12,680
Speaker 1: could climb another five to seven percent before resuming losses. Well,

430
00:23:12,680 --> 00:23:15,320
Speaker 1: and the commodity for onto gold is on the rise.

431
00:23:15,600 --> 00:23:18,200
Speaker 1: It is at one eight hundred forty dollars and ounce.

432
00:23:18,280 --> 00:23:21,320
Speaker 1: This spite comes as the US, UK, Japan, and Canada

433
00:23:21,480 --> 00:23:24,040
Speaker 1: planned to announce a ban on new gold imports from

434
00:23:24,119 --> 00:23:27,000
Speaker 1: Russia during the g seventh summit, and sources say the

435
00:23:27,080 --> 00:23:29,520
Speaker 1: U s ban is expected tomorrow. Straight to HAAD your

436
00:23:29,560 --> 00:23:33,280
Speaker 1: latest local headlines plus a check of sports, and this

437
00:23:33,680 --> 00:23:40,240
Speaker 1: is Bloomberg. Thanks Scaring. It's five thirty three on Wall Street,

438
00:23:40,280 --> 00:23:43,760
Speaker 1: seventy three degrees in Central Park and westbound Belt Parkway

439
00:23:43,920 --> 00:23:47,200
Speaker 1: is closed into Cross Bay Boulevard for an accident investigation.

440
00:23:47,480 --> 00:23:49,840
Speaker 1: More coming up in traffic. First Michael Barr with more

441
00:23:49,840 --> 00:23:52,000
Speaker 1: on what's going on in New York and around the world. Michael,

442
00:23:52,000 --> 00:23:54,640
Speaker 1: thank you very much. Nathan, the Staten Island grocery store

443
00:23:54,680 --> 00:23:58,439
Speaker 1: worker was arrested after police say he slapped Rudy Giuliani

444
00:23:58,480 --> 00:24:01,480
Speaker 1: on the back and called him a disparage name. Authorities

445
00:24:01,480 --> 00:24:04,400
Speaker 1: say the former New York City mayor and Trump attorney

446
00:24:04,560 --> 00:24:07,800
Speaker 1: was at a shop right near Bricktown Way campaigning for

447
00:24:07,880 --> 00:24:11,000
Speaker 1: his son Andrew when the incident happened. The thirty nine

448
00:24:11,080 --> 00:24:14,080
Speaker 1: year old shop write worker is facing second degree assault

449
00:24:14,160 --> 00:24:17,359
Speaker 1: charges for the open hand slap on Juliani, who was

450
00:24:17,400 --> 00:24:21,040
Speaker 1: seventy eight Tomorrow. Seven states, including New York, are set

451
00:24:21,080 --> 00:24:24,520
Speaker 1: to host primary elections for the Democrats. New York Governor

452
00:24:24,560 --> 00:24:27,920
Speaker 1: Cathey Hoco faces Thomas Swazzi and Jamanni Williams for the

453
00:24:27,960 --> 00:24:33,160
Speaker 1: gubernatorial nomination. Rob Astino Andrew Giuliani, Harry Wilson and Les

454
00:24:33,240 --> 00:24:37,159
Speaker 1: Eldon running for the GOP nomination for governor. Thousands of

455
00:24:37,160 --> 00:24:40,240
Speaker 1: people lie Manhattan's Fifth Avenue yesterday for the annual New

456
00:24:40,280 --> 00:24:44,119
Speaker 1: York City Pride Parade. It is the first unrestricted celebration

457
00:24:44,200 --> 00:24:48,159
Speaker 1: in two years. Filmmaker James Scully says it's because of

458
00:24:48,200 --> 00:24:50,800
Speaker 1: the decades of fighting that he was able to make

459
00:24:50,840 --> 00:24:55,000
Speaker 1: the Hulu romcom Fire Island. It's not about being bobbed

460
00:24:55,040 --> 00:24:58,240
Speaker 1: down or learning to come to terms with your queerness.

461
00:24:58,320 --> 00:25:02,399
Speaker 1: It's about celebrating your queerness, celebrating your chosen family, living

462
00:25:02,400 --> 00:25:05,320
Speaker 1: in your truth, and celebrating the joy that comes with

463
00:25:05,359 --> 00:25:08,160
Speaker 1: all of those things. And I think that that's revolutionary.

464
00:25:08,320 --> 00:25:11,320
Speaker 1: Filmmaker James Scully. The parade, the largest in the country,

465
00:25:11,359 --> 00:25:14,080
Speaker 1: marks the history of the gay rights movement, following the

466
00:25:14,119 --> 00:25:17,840
Speaker 1: infamous police raid on the Stone Wall in However, the

467
00:25:17,920 --> 00:25:21,560
Speaker 1: Pride parade also had another tone, the fight for abortion rights.

468
00:25:21,920 --> 00:25:25,200
Speaker 1: I'm sure what will come next with the other rights

469
00:25:25,200 --> 00:25:27,960
Speaker 1: that are under a town. They'll come, but we're ready

470
00:25:28,000 --> 00:25:30,399
Speaker 1: for the fight. We've been fighting for our whole lives,

471
00:25:30,440 --> 00:25:33,680
Speaker 1: just like women have been. Pride parades were also held

472
00:25:33,680 --> 00:25:37,200
Speaker 1: in other big cities, including San Francisco. W NBA star

473
00:25:37,280 --> 00:25:41,080
Speaker 1: Britney Grinder, who has been in Russian custody since February,

474
00:25:41,320 --> 00:25:44,439
Speaker 1: is expected to appear in court today. Grinder was arrested

475
00:25:44,480 --> 00:25:47,360
Speaker 1: at the airport in Moscow after being accused of carrying

476
00:25:47,480 --> 00:25:51,439
Speaker 1: vague cartridges containing hashish oil. The U says she is

477
00:25:51,480 --> 00:25:55,120
Speaker 1: being wrongfully detained. Global News twenty four hours a day

478
00:25:55,200 --> 00:25:58,320
Speaker 1: on air and on Bloomberg Quicktake, powered by more than

479
00:25:59,280 --> 00:26:02,600
Speaker 1: journalists and then more than twenty countries. Michael barn this

480
00:26:02,680 --> 00:26:10,560
Speaker 1: is Bloomberg, Nathan, Thank you, Michael. Five on Wall Street.

481
00:26:10,560 --> 00:26:13,000
Speaker 1: Time for the Bloomberg Sports Update with John Stanshound all right,

482
00:26:13,080 --> 00:26:15,320
Speaker 1: Apen Timbobay Lighte even trying to do something no teams

483
00:26:15,359 --> 00:26:18,040
Speaker 1: done since the Islanders back in the early nineteen eighties,

484
00:26:18,040 --> 00:26:20,800
Speaker 1: A Stanley kept three pet They fought off elimination three times,

485
00:26:20,840 --> 00:26:24,200
Speaker 1: including Game five in Denver, but back in Tampa, Colorado

486
00:26:24,240 --> 00:26:26,760
Speaker 1: scored twice in the second period. That was enough for

487
00:26:26,840 --> 00:26:30,440
Speaker 1: a two, one game six victory, third Cup in Avs history.

488
00:26:30,440 --> 00:26:33,720
Speaker 1: They also won nine, six and teenthousand one. Defenseman Cole

489
00:26:33,800 --> 00:26:36,119
Speaker 1: mccarr won the Counts Mike Trophies playoff m v P.

490
00:26:36,240 --> 00:26:39,320
Speaker 1: When the Warriors just won the NBA Championship, the commissioner

491
00:26:39,359 --> 00:26:42,159
Speaker 1: Adam Silver could not hand them the trophy because of COVID,

492
00:26:42,200 --> 00:26:44,320
Speaker 1: and the same thing happened last night with the NHL

493
00:26:44,359 --> 00:26:47,320
Speaker 1: commissioner Jerry Vettman wild one of the Bronx. The first

494
00:26:47,359 --> 00:26:50,200
Speaker 1: and last pictures of the games were home runs Josel

495
00:26:50,240 --> 00:26:52,080
Speaker 1: tub for the Astros. The Yankees didn't get a hit

496
00:26:52,119 --> 00:26:55,200
Speaker 1: until the seventh inning, which made its sixteens trade innings

497
00:26:55,200 --> 00:26:57,439
Speaker 1: without a hit. They only had four, but three of

498
00:26:57,440 --> 00:26:59,679
Speaker 1: them were home runs. John Carlos Stanton in the seventh

499
00:27:00,080 --> 00:27:02,280
Speaker 1: ked up one would have been baseball history. A second

500
00:27:02,280 --> 00:27:04,960
Speaker 1: no hit in a row. D J Lamo Lao gain

501
00:27:05,040 --> 00:27:07,240
Speaker 1: time two run shot in the eighth and then in

502
00:27:07,280 --> 00:27:18,399
Speaker 1: the tent All right us, it's a walk off three

503
00:27:18,520 --> 00:27:22,880
Speaker 1: run home run. It's a judge in blast the deep

504
00:27:22,880 --> 00:27:27,200
Speaker 1: glove center into the bullpen. Yankee six asked Rose to

505
00:27:27,359 --> 00:27:30,240
Speaker 1: three home run for Aaron Judges second walk off of

506
00:27:30,280 --> 00:27:33,280
Speaker 1: the series, Yanks tenth walk off when they avoid that

507
00:27:33,320 --> 00:27:35,200
Speaker 1: would have been just their second three game Luton's Big

508
00:27:35,520 --> 00:27:37,879
Speaker 1: Marlin's walked off on the Mats in Miami, home run

509
00:27:37,880 --> 00:27:40,560
Speaker 1: bottom of night by Nick Sportez off Adamataveno to beat

510
00:27:40,560 --> 00:27:43,560
Speaker 1: the met three to two. Wild brawl between the Mariners

511
00:27:43,600 --> 00:27:47,119
Speaker 1: and Angel Six ejections John Stash, bloom Group Sports and

512
00:27:47,119 --> 00:27:49,760
Speaker 1: maybe wow, all right, John, thank you. It's five thirty

513
00:27:49,800 --> 00:27:51,960
Speaker 1: seven on Wall Street time for the Tri State Business

514
00:27:51,960 --> 00:27:55,520
Speaker 1: Report with Bloomberg's head Cory In Manhattan, media and apartment

515
00:27:55,520 --> 00:27:58,080
Speaker 1: rents hit four thousand bucks for the first time ever

516
00:27:58,160 --> 00:28:01,760
Speaker 1: in May. Home prices sir eleven percent in the first

517
00:28:01,800 --> 00:28:05,119
Speaker 1: quarter compared to a year earlier. In the past few decades,

518
00:28:05,160 --> 00:28:07,560
Speaker 1: gay bars in the US and around the world have

519
00:28:07,600 --> 00:28:11,400
Speaker 1: been closing at a steady rate. From seven to twenty seventeen,

520
00:28:11,640 --> 00:28:15,199
Speaker 1: New York City added lgbt Q clubs, according to an

521
00:28:15,200 --> 00:28:19,440
Speaker 1: analysis of bar listings by Oberlin College professor Gregor Mattson,

522
00:28:19,680 --> 00:28:21,840
Speaker 1: but since then more than a quarter of its gay

523
00:28:21,840 --> 00:28:25,280
Speaker 1: bars have closed. Steady shrinking of the scene both before

524
00:28:25,320 --> 00:28:28,240
Speaker 1: and after COVID A bill moving through the New Jersey

525
00:28:28,480 --> 00:28:32,680
Speaker 1: legislature aims to significantly increase hours of miners can work

526
00:28:32,760 --> 00:28:35,320
Speaker 1: during summer break and after school. It would raise the

527
00:28:35,400 --> 00:28:38,000
Speaker 1: number of hours sixteen and seventeen year olds can work

528
00:28:38,080 --> 00:28:41,280
Speaker 1: during summer vacation from forty hours a week to fifty

529
00:28:41,320 --> 00:28:44,560
Speaker 1: and increased shifts for teens fourteen and older from five

530
00:28:44,600 --> 00:28:47,640
Speaker 1: hours to six with a thirty minute break for a meal.

531
00:28:47,760 --> 00:28:50,840
Speaker 1: That jew Bloomberg Trying State Business Report. I'm Ed Corey.

532
00:28:51,040 --> 00:28:53,480
Speaker 1: Thanks that it's five thirty eight on Wall Street. Bloomberg

533
00:28:53,560 --> 00:28:55,880
Speaker 1: Radio is on the air from San Francisco to New York,

534
00:28:55,920 --> 00:28:58,280
Speaker 1: London to Hong Kong. Let's check in with our global

535
00:28:58,280 --> 00:28:59,920
Speaker 1: news team for some of the top stories heard on

536
00:29:00,000 --> 00:29:05,400
Speaker 1: our three hundred affiliate radio stations around the world. I'm

537
00:29:05,480 --> 00:29:08,560
Speaker 1: Steve Povis kan On Chenchen Wins in New York. We're

538
00:29:08,600 --> 00:29:11,240
Speaker 1: talking about how the labor market made me showing signs

539
00:29:11,240 --> 00:29:14,400
Speaker 1: of a slowdown. I'm Gina Sirretti and for double w

540
00:29:14,560 --> 00:29:18,560
Speaker 1: BBM in Chicago. I'm talking about an Australian broadcasting reports

541
00:29:18,600 --> 00:29:21,440
Speaker 1: saying that Boeing seven thirty seven max jets have had

542
00:29:21,480 --> 00:29:24,240
Speaker 1: at least a half dozen years quite emergencies in the

543
00:29:24,400 --> 00:29:27,720
Speaker 1: years since they were cleared to fly following two fatal crashes.

544
00:29:28,160 --> 00:29:30,680
Speaker 1: I'm Stephen ATWOL on Bloomberg d a B Digital Radio

545
00:29:30,720 --> 00:29:33,440
Speaker 1: in London. We've been reported on Russia's first foreign death

546
00:29:33,520 --> 00:29:36,440
Speaker 1: defaults in over a hundred years and Mandu sanctions on

547
00:29:36,560 --> 00:29:40,240
Speaker 1: payment fruits. I made Cory on w w J and

548
00:29:40,360 --> 00:29:44,160
Speaker 1: Detroit on reporting Detroit City Football Club is opening this

549
00:29:44,320 --> 00:29:46,920
Speaker 1: door down town. And those are some of the stories

550
00:29:46,960 --> 00:29:49,800
Speaker 1: our twenty seven hundred Bloomberg journalists and analysts whore working

551
00:29:49,840 --> 00:29:52,120
Speaker 1: on this morning around the world. It's five thirty nine

552
00:29:52,120 --> 00:29:56,000
Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion.

553
00:29:56,400 --> 00:29:59,600
Speaker 1: The Supreme Court decision striking down Roe versus Wade, the

554
00:29:59,720 --> 00:30:02,040
Speaker 1: lenn Mark ruling that for nearly half a century had

555
00:30:02,080 --> 00:30:05,120
Speaker 1: guaranteed to write to abortion across the US, is the

556
00:30:05,160 --> 00:30:08,520
Speaker 1: most significant set back for women's rights in generations. The

557
00:30:08,560 --> 00:30:11,040
Speaker 1: move should serve as a rallying point for the majority

558
00:30:11,040 --> 00:30:14,440
Speaker 1: of Americans who opposed overturning Row and for the nearly

559
00:30:15,160 --> 00:30:18,920
Speaker 1: of Americans who oppose total abortion bands. While an effort

560
00:30:18,960 --> 00:30:22,120
Speaker 1: in the Senate to codify abortion protections into federal law

561
00:30:22,160 --> 00:30:25,960
Speaker 1: failed last month, lawmakers should continue working to find common

562
00:30:25,960 --> 00:30:30,800
Speaker 1: ground on a bill that would unite Congress's pro choice majority. Meanwhile,

563
00:30:30,840 --> 00:30:33,600
Speaker 1: pro choice Americans should see this moment as a call

564
00:30:33,680 --> 00:30:36,960
Speaker 1: to action and recommit themselves to the legal and political

565
00:30:37,000 --> 00:30:42,560
Speaker 1: battle to secure fundamental rights nationwide. Future generations are counting

566
00:30:42,600 --> 00:30:45,400
Speaker 1: on them. This editorial was written by the Bloomberg Opinion

567
00:30:45,480 --> 00:30:49,400
Speaker 1: Editorial Board. I'm David Shipley. For more Bloomberg opinion, please

568
00:30:49,400 --> 00:30:52,240
Speaker 1: go to Bloomberg dot com, slash opinion or opi and

569
00:30:52,360 --> 00:30:55,960
Speaker 1: go on the Bloomberg terminal. These has been Bloomberg Opinion.

570
00:30:56,120 --> 00:30:58,920
Speaker 1: Listen for Bloomberg opinion editorials every week at this time,

571
00:30:59,040 --> 00:31:01,800
Speaker 1: terminal customers and read more at O, P, I, N go,

572
00:31:02,040 --> 00:31:04,400
Speaker 1: and we will have much more on the political fallout

573
00:31:04,400 --> 00:31:07,959
Speaker 1: from the Supreme Court's decision to overturn abortion rights. Wendy Schiller,

574
00:31:08,560 --> 00:31:11,520
Speaker 1: chair of the Talbman Center for American Politics and Policy

575
00:31:11,520 --> 00:31:14,880
Speaker 1: at Brown University, joins us next. On a morning where

576
00:31:14,920 --> 00:31:17,240
Speaker 1: futures are pointing to a higher open on Wall Street,

577
00:31:18,080 --> 00:31:24,719
Speaker 1: this is Bloomberg Bloomberg eleven three oh Weather mostly cloudy,

578
00:31:24,760 --> 00:31:27,240
Speaker 1: scattered showers and storms today with a high near eighty degrees,

579
00:31:27,240 --> 00:31:31,000
Speaker 1: while have sunshine tomorrow. Hide back near eighty, low eighties

580
00:31:31,040 --> 00:31:34,040
Speaker 1: and sunny for Wednesday right now seventy three and cloudy

581
00:31:34,080 --> 00:31:39,960
Speaker 1: in Central Park Markets. Headlines and breaking news twenty four

582
00:31:40,000 --> 00:31:43,080
Speaker 1: hours a day at Bloomberg dot Com, The Bloomberg Business

583
00:31:43,080 --> 00:31:46,720
Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg Business

584
00:31:46,760 --> 00:31:55,720
Speaker 1: Flash and I'm Karen Moscow and global stocks are extending

585
00:31:55,720 --> 00:31:58,760
Speaker 1: games after posting their best performance in a month last week.

586
00:31:58,960 --> 00:32:01,640
Speaker 1: US Stock Index Future is rising the tech stocks set

587
00:32:01,680 --> 00:32:04,400
Speaker 1: to extend gains following their best week since March. We

588
00:32:04,560 --> 00:32:06,960
Speaker 1: checked the markets every fifteen minutes throughout the training day

589
00:32:07,040 --> 00:32:10,280
Speaker 1: on Bloomberg. Right now, SMP future is up twenty one points,

590
00:32:10,360 --> 00:32:12,880
Speaker 1: DAL futures of a hundred twenty four and AZZAC Future

591
00:32:12,920 --> 00:32:16,120
Speaker 1: is up eighty six. The decks in Germany's up one percent,

592
00:32:16,200 --> 00:32:19,280
Speaker 1: The ten year treasury down ten thirty seconds three point

593
00:32:19,280 --> 00:32:21,600
Speaker 1: one six percent. They yield on the two year three

594
00:32:21,600 --> 00:32:24,680
Speaker 1: point oh seven percent. NIMEX screwed Oil is down a

595
00:32:24,760 --> 00:32:26,880
Speaker 1: quarter percent, or twenty five cents and a hundred seven

596
00:32:26,920 --> 00:32:29,720
Speaker 1: dollars thirty seven cents of barrel comexs Goold up six

597
00:32:29,720 --> 00:32:33,360
Speaker 1: tents percent or eleven dollars at eighteen forty one, the

598
00:32:33,440 --> 00:32:35,880
Speaker 1: euro one point oh five seven eight against the dollar,

599
00:32:35,920 --> 00:32:38,560
Speaker 1: British found one point two two nine four the ends

600
00:32:38,560 --> 00:32:40,840
Speaker 1: at one thirty five point oh eight and looking at

601
00:32:40,880 --> 00:32:44,560
Speaker 1: Bitcoin this morning of a quarter percent at twenty one thousand,

602
00:32:44,640 --> 00:32:47,800
Speaker 1: four hundred fifty dollars as of Bloomberg Business Flash Down.

603
00:32:47,800 --> 00:32:50,240
Speaker 1: Here's Michael Barr with more on what's going on around

604
00:32:50,240 --> 00:32:52,880
Speaker 1: the world. Michael Karen, thank you very much. President Joe

605
00:32:52,920 --> 00:32:55,440
Speaker 1: Biden and Western allies at a three days summon in

606
00:32:55,480 --> 00:32:59,400
Speaker 1: the Bavarian Alps say they're intent on keeping economic pressure

607
00:32:59,440 --> 00:33:02,480
Speaker 1: on Russia and trying to end the conflict in Ukraine.

608
00:33:02,840 --> 00:33:06,480
Speaker 1: NASA has launched the rocket from out Back Australia, carrying

609
00:33:06,520 --> 00:33:09,320
Speaker 1: equipment to learn more about the galaxy. W n B.

610
00:33:09,440 --> 00:33:11,880
Speaker 1: A star Britney Griner is expected to appear in court

611
00:33:11,960 --> 00:33:15,320
Speaker 1: today for her preliminary hearing in Moscow. She was detained

612
00:33:15,360 --> 00:33:18,760
Speaker 1: for allegedly having vague cartridges with a shesh oil in

613
00:33:18,840 --> 00:33:22,600
Speaker 1: her luggage. In the NHL, the Avalanche won the Stanley

614
00:33:22,600 --> 00:33:25,520
Speaker 1: Cup after beating the Lightning Baseball the Yankees one, the

615
00:33:25,600 --> 00:33:28,520
Speaker 1: Men's lost, the Red Sox, Nationals and A's one. The

616
00:33:28,560 --> 00:33:32,320
Speaker 1: Orioles and Giants lost Global News twenty four hours a

617
00:33:32,400 --> 00:33:35,680
Speaker 1: day on air and on Bloomberg Quicktake, powered by more

618
00:33:35,760 --> 00:33:38,880
Speaker 1: then hundred journalists and anamalists more than a hundred twenty countries.

619
00:33:39,160 --> 00:33:42,440
Speaker 1: Michael bar this is Bloomberg. Karen right, Michael, thank you

620
00:33:42,560 --> 00:33:45,480
Speaker 1: now more on our top story. There were protests all

621
00:33:45,520 --> 00:33:48,520
Speaker 1: weekend across the country over the Supreme Court stripping away

622
00:33:48,520 --> 00:33:51,400
Speaker 1: the constitutional right to abortion with the vote of five

623
00:33:51,440 --> 00:33:55,040
Speaker 1: and the conservative justices. The decision overturning Roe v. Wade

624
00:33:55,080 --> 00:33:58,760
Speaker 1: will be transformative, making abortion illegal at about half of

625
00:33:58,760 --> 00:34:01,560
Speaker 1: the states, and despy controlling the White House and both

626
00:34:01,640 --> 00:34:05,160
Speaker 1: chambers of Congress, there's little more Democrats can do via

627
00:34:05,240 --> 00:34:09,040
Speaker 1: executive action or legislation. For more in the story Bloomberg's

628
00:34:09,040 --> 00:34:12,240
Speaker 1: Doing Grosso's face to Catherine Frankie, a professor at Columbia

629
00:34:12,320 --> 00:34:14,960
Speaker 1: Law School and the director of the Center for Gender

630
00:34:14,960 --> 00:34:18,920
Speaker 1: and Sexuality Law. The descent in which the three liberal

631
00:34:19,040 --> 00:34:22,640
Speaker 1: johnstice is united says that no one should be confident

632
00:34:22,760 --> 00:34:25,960
Speaker 1: that this majority is done with its work, and Justice

633
00:34:26,000 --> 00:34:29,280
Speaker 1: Clarence Thomas and his concurrence says, you know, we should

634
00:34:29,280 --> 00:34:34,000
Speaker 1: reconsider all of the courts substantive due process precedents like

635
00:34:34,120 --> 00:34:38,320
Speaker 1: same sex, marriage, and contraception. Justice Alito, in his majority

636
00:34:38,360 --> 00:34:41,560
Speaker 1: opinion says, look, we're only deciding the abortion case today.

637
00:34:42,120 --> 00:34:45,359
Speaker 1: All those other matters of sex and sexuality, whether it's

638
00:34:45,360 --> 00:34:49,319
Speaker 1: to write to contraception, or the decriminalization of sodomy or

639
00:34:49,440 --> 00:34:53,680
Speaker 1: same sex marriage rights, those are not implicated in this decision.

640
00:34:54,120 --> 00:34:57,120
Speaker 1: But to be honest, the way in which Justice Alito's

641
00:34:57,160 --> 00:35:01,120
Speaker 1: opinion kicks the legs out from the constant tuition that

642
00:35:01,360 --> 00:35:04,279
Speaker 1: held up roversus weight, it's hard to imagine how all

643
00:35:04,320 --> 00:35:07,240
Speaker 1: those other rights have anything left to stand on. There's

644
00:35:07,280 --> 00:35:09,719
Speaker 1: a lot of talk about what will happen next, and

645
00:35:09,840 --> 00:35:12,759
Speaker 1: one thing that that people are concerned about is that

646
00:35:13,080 --> 00:35:16,720
Speaker 1: read states will try to prosecute in some way women

647
00:35:16,760 --> 00:35:20,000
Speaker 1: who cross state lines. Just as kavan on his concurrence

648
00:35:20,000 --> 00:35:22,480
Speaker 1: says that's not going to happen. I mean, can we

649
00:35:22,520 --> 00:35:26,600
Speaker 1: trust his opinion there, Well, he's no expert in state prosecutions.

650
00:35:26,880 --> 00:35:29,120
Speaker 1: I think he's completely out of order and saying that

651
00:35:29,160 --> 00:35:32,440
Speaker 1: won't happen because the Supreme Court's decision is actually an

652
00:35:32,440 --> 00:35:36,319
Speaker 1: invitation to local prosecutors to enforce the criminal laws in

653
00:35:36,360 --> 00:35:39,600
Speaker 1: exactly that way. So we'll have to wait and see.

654
00:35:39,640 --> 00:35:42,520
Speaker 1: But there are many, many people who feel very strongly

655
00:35:42,560 --> 00:35:44,960
Speaker 1: about this issue, as we know, and then do feel

656
00:35:44,960 --> 00:35:48,359
Speaker 1: that abortion is murder, and why wouldn't they prosecute those

657
00:35:48,440 --> 00:35:51,600
Speaker 1: laws just as robustly as they prosecute the murderer of

658
00:35:51,680 --> 00:35:55,680
Speaker 1: already born people. President Biden says it's up to Congress

659
00:35:55,719 --> 00:35:59,400
Speaker 1: now to pass a law protecting the right to abortion.

660
00:35:59,760 --> 00:36:03,200
Speaker 1: We're unlikely to see that anytime soon. Is there anything

661
00:36:03,200 --> 00:36:06,759
Speaker 1: else that can be done at this point? Vote right?

662
00:36:06,840 --> 00:36:09,799
Speaker 1: This issue now is a state by state issue. We

663
00:36:09,920 --> 00:36:12,080
Speaker 1: have to show up in the at the polls. We

664
00:36:12,200 --> 00:36:15,279
Speaker 1: have to get different people in our state legislatures and

665
00:36:15,400 --> 00:36:19,120
Speaker 1: protect abortion rights as contraceptive rights and the whole range

666
00:36:19,120 --> 00:36:22,360
Speaker 1: of rights having to do with reproductive healthcare, and in

667
00:36:22,400 --> 00:36:25,080
Speaker 1: the ballot box, because that's now where this issue has

668
00:36:25,080 --> 00:36:28,480
Speaker 1: been kicked by the Supreme Court is into the state legislatures.

669
00:36:28,840 --> 00:36:31,680
Speaker 1: And as Katherine Frankie, a professor at Columbia Law School,

670
00:36:31,680 --> 00:36:33,800
Speaker 1: speaking at the Bloomberg Student grounse So catch more of

671
00:36:33,880 --> 00:36:36,520
Speaker 1: that interview plus analysis of the latest legal news, by

672
00:36:36,520 --> 00:36:39,760
Speaker 1: subscribing to the Bloomberg Law Podcast or downloading this show

673
00:36:39,960 --> 00:36:43,800
Speaker 1: at Bloomberg dot com slash podcast. Attorneys can find exceptional

674
00:36:43,880 --> 00:36:47,000
Speaker 1: legal research and business development tools at Bloomberg Law dot

675
00:36:47,040 --> 00:36:50,800
Speaker 1: Com and on the Bloomberg terminal at b Law Go. Nathan,

676
00:36:50,920 --> 00:36:52,640
Speaker 1: all right, Karen, thank you. We want to get even

677
00:36:52,640 --> 00:36:55,640
Speaker 1: more now on the political fallout from the Supreme Court's

678
00:36:55,680 --> 00:36:58,480
Speaker 1: decision as we continue here live from the Bloomberg Interactive

679
00:36:58,480 --> 00:37:01,839
Speaker 1: Broker Studios. For that, we're joined this morning live by

680
00:37:01,920 --> 00:37:04,440
Speaker 1: Wendy Schiller, director of the top In Center for American

681
00:37:04,480 --> 00:37:09,400
Speaker 1: Politics and Policy at Brown University. Professor Schiller that previous

682
00:37:09,480 --> 00:37:13,239
Speaker 1: comments sort of encapsulates where things go from here, potentially

683
00:37:13,280 --> 00:37:18,160
Speaker 1: a focus on state legislatures and state races for control

684
00:37:18,160 --> 00:37:21,600
Speaker 1: of Congress on Capitol Hill. Will the abortion rights issue

685
00:37:21,640 --> 00:37:25,400
Speaker 1: reverberate into November? Well, Nathan, I think that it will,

686
00:37:25,480 --> 00:37:28,279
Speaker 1: But the question is where will it be stronger. I mean,

687
00:37:28,520 --> 00:37:30,800
Speaker 1: we you know sort of thing go pro pro life

688
00:37:30,960 --> 00:37:33,400
Speaker 1: forces have won a victory, and maybe that, you know,

689
00:37:33,480 --> 00:37:36,759
Speaker 1: diminishes their enthusiasm or their motivation for getting out the door.

690
00:37:36,960 --> 00:37:40,680
Speaker 1: Republicans typically better at motivating voters in midterm elections, particularly

691
00:37:40,719 --> 00:37:44,680
Speaker 1: at the state level. We've known since at least so um,

692
00:37:44,800 --> 00:37:46,960
Speaker 1: then there are all these other things that their publican

693
00:37:46,960 --> 00:37:50,799
Speaker 1: party will now talk about advancing in terms of limiting contraception,

694
00:37:50,880 --> 00:37:54,960
Speaker 1: revoking gay rights. Um, you know all these things, prosecuting

695
00:37:54,960 --> 00:37:57,520
Speaker 1: people who go across the state border to get an abortion,

696
00:37:57,840 --> 00:38:00,759
Speaker 1: I mean, relying on the court to the very risky proposition. Now,

697
00:38:00,840 --> 00:38:02,520
Speaker 1: I think there's no question that this will be about

698
00:38:02,520 --> 00:38:05,640
Speaker 1: state law, as you're saying. But time of Democrats muster

699
00:38:05,920 --> 00:38:10,239
Speaker 1: enough enthusiasm among a cross set of coalition members, some

700
00:38:10,320 --> 00:38:14,880
Speaker 1: of whom are not necessarily pro pro choice, UH, Conservative

701
00:38:15,040 --> 00:38:20,280
Speaker 1: Catholic Latino voters for example, evangelical, particularly African American voters.

702
00:38:20,680 --> 00:38:22,839
Speaker 1: So you know where is that fall. Can you really

703
00:38:22,840 --> 00:38:24,400
Speaker 1: get people out the door in this issue on the

704
00:38:24,400 --> 00:38:27,360
Speaker 1: Democratic side, I'm not sure that's clear, even though it

705
00:38:27,400 --> 00:38:30,040
Speaker 1: looks and sounds like it's clear. Um, do we have

706
00:38:30,080 --> 00:38:32,319
Speaker 1: ayeen on our hands, or Democrats get out the door

707
00:38:32,560 --> 00:38:37,000
Speaker 1: or when Republicans get out the door with much greater enthusiasm.

708
00:38:37,080 --> 00:38:40,200
Speaker 1: We have seen a lot of polling, particularly a late

709
00:38:40,239 --> 00:38:44,319
Speaker 1: poll from CBS News that shows that clear majority of

710
00:38:44,480 --> 00:38:49,400
Speaker 1: Americans across the board UH support the idea of keeping

711
00:38:49,520 --> 00:38:53,480
Speaker 1: rowan place. They disagree with the Supreme Court on overturning

712
00:38:53,480 --> 00:38:56,759
Speaker 1: the decision that has to give Democrats a little bit

713
00:38:56,760 --> 00:39:00,520
Speaker 1: of comfort, doesn't it. Well, not really, because as you know,

714
00:39:00,800 --> 00:39:04,080
Speaker 1: as Republicans were saying yesterday, abortion is still legal in

715
00:39:04,080 --> 00:39:06,799
Speaker 1: America right there are still you know, a decent number

716
00:39:06,840 --> 00:39:09,520
Speaker 1: of states that you can go to to get an abortion,

717
00:39:09,560 --> 00:39:12,680
Speaker 1: which of course reemphasizes how dra Cone in this ruling

718
00:39:12,760 --> 00:39:15,320
Speaker 1: is on poor women who won't have the means to travel.

719
00:39:15,640 --> 00:39:17,680
Speaker 1: But the fact that it's still legal and it wasn't

720
00:39:17,719 --> 00:39:21,240
Speaker 1: a ban on abortion nationally, said, you know, gives Republicans

721
00:39:21,239 --> 00:39:24,360
Speaker 1: the best of both worlds. Their constituency, their base is

722
00:39:24,400 --> 00:39:26,800
Speaker 1: super happy, and they can motivate them to go further

723
00:39:26,880 --> 00:39:29,880
Speaker 1: at the state level without actually saying you can't get

724
00:39:29,880 --> 00:39:32,839
Speaker 1: an abortion anywhere. And most, if not all, I checked

725
00:39:32,880 --> 00:39:34,920
Speaker 1: the other day after double check, of the states that

726
00:39:34,960 --> 00:39:37,759
Speaker 1: are banning or learning abortion are doing so with an

727
00:39:37,760 --> 00:39:39,960
Speaker 1: exception for the life of the mother. So the battle

728
00:39:39,960 --> 00:39:42,799
Speaker 1: will be about rape and incests, now, uh. And these

729
00:39:42,840 --> 00:39:45,600
Speaker 1: may be motivating factors for some Americans in an intense way,

730
00:39:45,600 --> 00:39:48,520
Speaker 1: as we've seen, but not every American is intensely motivated

731
00:39:48,520 --> 00:39:52,240
Speaker 1: about this. They're still worried about jobs, education, gun safety, inflation,

732
00:39:52,280 --> 00:39:54,719
Speaker 1: and gas prices. So you know, the Democrats are gonna

733
00:39:54,760 --> 00:39:56,200
Speaker 1: have to walk up prey fine line. Do I think

734
00:39:56,200 --> 00:39:59,880
Speaker 1: it hurts Republicans in general elections and competitive swing districts

735
00:40:00,120 --> 00:40:03,040
Speaker 1: and in state senate racism? You know, national Senate races

736
00:40:03,040 --> 00:40:06,640
Speaker 1: in Ohio, Pennsylvania, paps. Um, Yeah, North Carolina, Arizona. This

737
00:40:06,719 --> 00:40:09,759
Speaker 1: could make a difference at the margins in North Carolina also,

738
00:40:10,160 --> 00:40:15,040
Speaker 1: but most Americans still care more about other things. We've

739
00:40:15,080 --> 00:40:18,920
Speaker 1: also heard from Democratic Senator Elizabeth Warren on the Sunday

740
00:40:18,920 --> 00:40:22,880
Speaker 1: shows talking about President Biden adding more seats to the

741
00:40:22,920 --> 00:40:27,440
Speaker 1: Supreme Court, talking about moving to end the filibuster. Does

742
00:40:27,480 --> 00:40:30,520
Speaker 1: that put more attention on those issues? Do you see

743
00:40:31,120 --> 00:40:34,040
Speaker 1: a prospect for any kind of movement on on either

744
00:40:34,080 --> 00:40:37,640
Speaker 1: of those ideas well? Um, you know, as a lot

745
00:40:37,640 --> 00:40:39,440
Speaker 1: of comes tears I've been talking about, Nathan. You know,

746
00:40:39,520 --> 00:40:43,080
Speaker 1: Democrats voters are Democratic voters are not particularly motivated by

747
00:40:43,120 --> 00:40:45,680
Speaker 1: the Screme Court. Uh. You know, they didn't get over there, Bernie,

748
00:40:45,760 --> 00:40:48,399
Speaker 1: Hillary divide in sixteen to think about what Trump could

749
00:40:48,400 --> 00:40:51,600
Speaker 1: do to the Supreme Court. Uh, for example, whereas Republicans

750
00:40:51,719 --> 00:40:55,240
Speaker 1: you know, did think about they accepted Trump to evangelicals

751
00:40:55,360 --> 00:40:57,080
Speaker 1: even though they knew that he had not behaved in

752
00:40:57,080 --> 00:41:00,439
Speaker 1: a way that they typically proscribed. So know, they said,

753
00:41:00,480 --> 00:41:03,000
Speaker 1: we we care most about abortion, anti abortion and the

754
00:41:03,080 --> 00:41:04,920
Speaker 1: spoon courts, and we're getting out the door for it.

755
00:41:05,120 --> 00:41:08,080
Speaker 1: That doesn't happen with the Democrats. So the process argument

756
00:41:08,280 --> 00:41:11,480
Speaker 1: that insiders make in DC, I don't think it's particularly

757
00:41:11,480 --> 00:41:14,720
Speaker 1: effective in resonating among voters to get particularly the younger

758
00:41:14,760 --> 00:41:17,600
Speaker 1: co wor eighteen thirty five who really are facing a

759
00:41:17,680 --> 00:41:21,640
Speaker 1: landscape of you know, dramatically limited rights. Um, you know,

760
00:41:21,719 --> 00:41:23,359
Speaker 1: I don't know. I don't think that gets them out

761
00:41:23,400 --> 00:41:27,160
Speaker 1: the door last minute here, professor. Of course, this is

762
00:41:27,200 --> 00:41:30,120
Speaker 1: something that Republicans have been working for pretty much ever

763
00:41:30,120 --> 00:41:33,000
Speaker 1: since Roll v. Wade was decided to get to get

764
00:41:33,000 --> 00:41:35,319
Speaker 1: the decision overturned. But this is the ruling coming at

765
00:41:35,320 --> 00:41:38,919
Speaker 1: the right time for them. Um well, I mean when

766
00:41:38,920 --> 00:41:42,280
Speaker 1: you think about um, I think for the midterm elections.

767
00:41:42,280 --> 00:41:44,720
Speaker 1: I mean you could argue that this is you know, um,

768
00:41:44,760 --> 00:41:47,120
Speaker 1: for the presidential elections might be a bigger issue, But

769
00:41:47,160 --> 00:41:49,960
Speaker 1: for the midstrom elections, I think they're counting on the

770
00:41:49,960 --> 00:41:53,439
Speaker 1: Democrats making the mistake of emphasizing thesthetical congressional mid terms

771
00:41:53,520 --> 00:41:56,480
Speaker 1: when if that you have to empasize state legislative races

772
00:41:56,520 --> 00:41:58,880
Speaker 1: to make any difference on this particular issue. So I

773
00:41:58,880 --> 00:42:01,400
Speaker 1: don't know how Democrats try translate that, because you have

774
00:42:01,560 --> 00:42:04,879
Speaker 1: a Democratic president who will veto anything the Republicans send

775
00:42:04,920 --> 00:42:07,400
Speaker 1: in terms of the nationwide ban on abortion unless the

776
00:42:07,400 --> 00:42:10,279
Speaker 1: Republicans get a veto proof majority. So there's all sorts

777
00:42:10,320 --> 00:42:12,000
Speaker 1: of ways in which I think Republicans are counting on

778
00:42:12,040 --> 00:42:16,319
Speaker 1: Democratic Frankly, Democrats incompetence at mobilizing their voters on this

779
00:42:16,360 --> 00:42:18,640
Speaker 1: issue at state level and needing the national level to

780
00:42:18,840 --> 00:42:21,920
Speaker 1: still do quite well in November. Thanks for this, professor,

781
00:42:21,960 --> 00:42:24,319
Speaker 1: Always good getting your thoughts. Wendy Schiller's director of the

782
00:42:24,360 --> 00:42:28,279
Speaker 1: Topmen Center for American Politics and Policy at Brown University.

783
00:42:28,760 --> 00:42:31,440
Speaker 1: Sp future is right now up nineteen points down, Futures

784
00:42:31,480 --> 00:42:33,719
Speaker 1: up a hundred eight and anstack futures are hired by

785
00:42:33,920 --> 00:42:37,080
Speaker 1: eighty four points ten. Your treasury is down nine thirty

786
00:42:37,120 --> 00:42:40,000
Speaker 1: seconds now, the yield three point one six percent, and

787
00:42:40,080 --> 00:42:43,240
Speaker 1: the yield on the two year three point zero seven

788
00:42:43,480 --> 00:42:48,480
Speaker 1: percent Bloomberg. Dave Right continues, this is Bloomberg