1 00:00:03,480 --> 00:00:06,320 Speaker 1: Live from the Bloomberg and Directive Workers studios. This is 2 00:00:06,360 --> 00:00:11,000 Speaker 1: Bloomberg Daybreak for Monday to two. Coming up this shower. 3 00:00:11,240 --> 00:00:14,159 Speaker 1: Investors brace for a pivotal week in the markets. The 4 00:00:14,280 --> 00:00:16,880 Speaker 1: FETE is expected to hike rates by seventy five basis 5 00:00:16,920 --> 00:00:21,280 Speaker 1: points again. Microsoft, Apple, Amazon, and Alphabet are all scheduled 6 00:00:21,280 --> 00:00:24,040 Speaker 1: to report. And a new warning about monkey pox from 7 00:00:24,040 --> 00:00:28,000 Speaker 1: the World Health Organization if he advisory extended till tonight 8 00:00:28,040 --> 00:00:30,800 Speaker 1: for parts of the tri State. Donald Trump hangs to 9 00:00:30,840 --> 00:00:34,159 Speaker 1: the nation's capital. I'm John Tucker. Those stories straight ahead. 10 00:00:34,440 --> 00:00:36,960 Speaker 1: I'm John Stashdown Sports, Pete Alonzo, the Big Glow for 11 00:00:37,000 --> 00:00:39,960 Speaker 1: the Mets that went over San Diego, Aaron Judge homeward again, 12 00:00:40,040 --> 00:00:45,800 Speaker 1: the Yankees one in Baltimore. That's all strady ahead on 13 00:00:45,880 --> 00:00:51,560 Speaker 1: Bloomberg Daybreak on Bloomberg he liveing freon New York, Bloomberg one, Washington, 14 00:00:51,680 --> 00:00:55,800 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 15 00:00:55,800 --> 00:00:59,920 Speaker 1: San Francisco, Sirius XM one nineteen and around the world 16 00:01:00,120 --> 00:01:03,640 Speaker 1: on Bloomberg Radio dot com and via the Bloomberg Business App. 17 00:01:07,560 --> 00:01:10,280 Speaker 1: Good Morning, I'm Nathan Hagar, and I'm Karen Moscow and 18 00:01:10,400 --> 00:01:13,039 Speaker 1: US DOT Index futures on the rise this morning. We 19 00:01:13,080 --> 00:01:14,880 Speaker 1: are coming up to six oh one on Wall Street, 20 00:01:14,880 --> 00:01:17,080 Speaker 1: and we checked the markets every fifteen minutes throughout the 21 00:01:17,080 --> 00:01:19,640 Speaker 1: trading day on Bloomberg. Right now, S and P futures 22 00:01:19,640 --> 00:01:22,320 Speaker 1: are up about nineteen points down, Future is up one 23 00:01:22,760 --> 00:01:25,880 Speaker 1: thirty six and NASDAG futures up sixty seven. Ten year 24 00:01:25,880 --> 00:01:29,280 Speaker 1: Treasury down thirteen thirty seconds. Here two point eight zero 25 00:01:29,480 --> 00:01:32,440 Speaker 1: per cent, Nathan Karen, we begin with this week's highly 26 00:01:32,480 --> 00:01:36,399 Speaker 1: anticipated FED meeting. Their decision comes Wednesday, and after raising 27 00:01:36,520 --> 00:01:39,720 Speaker 1: rates sharply in June, j Pal and colleagues are expected 28 00:01:39,760 --> 00:01:42,920 Speaker 1: to approve another seventy five basis point hike, while the 29 00:01:42,920 --> 00:01:46,120 Speaker 1: Fed titans policy to get inflation under controlled. Treasury Secretary 30 00:01:46,200 --> 00:01:48,520 Speaker 1: Janet Yellen says she does not see any signed the 31 00:01:48,520 --> 00:01:51,720 Speaker 1: economy is in a broad recession. We're likely to see 32 00:01:52,240 --> 00:01:57,320 Speaker 1: some slowing of job creation, um, but I do I 33 00:01:57,680 --> 00:02:01,480 Speaker 1: don't think that that's a recession. Recession is broad based 34 00:02:01,560 --> 00:02:05,800 Speaker 1: weakness in the economy, We're not seeing that now. Treasury 35 00:02:05,800 --> 00:02:09,120 Speaker 1: Secretary Janet Yelling made the comments on NBC's Meet the Press, 36 00:02:09,200 --> 00:02:13,200 Speaker 1: heard Sundays on Bloomberg Radio. Well, despite Yellen's comments, Nathan, 37 00:02:13,280 --> 00:02:17,320 Speaker 1: investors are skeptical to Fed can tame inflation without a recession. 38 00:02:17,600 --> 00:02:20,600 Speaker 1: That's according to more than people who responded to a 39 00:02:20,600 --> 00:02:24,520 Speaker 1: Bloomberg m Live Pulse survey. Beget more from Bloomberg's Heather Burke, 40 00:02:24,880 --> 00:02:28,000 Speaker 1: over sixty of their respondents in the survey said there's 41 00:02:28,040 --> 00:02:30,840 Speaker 1: a low or zero probability that the Fed can ring 42 00:02:30,880 --> 00:02:35,080 Speaker 1: in inflation without causing our recession. And about two thirds 43 00:02:35,120 --> 00:02:38,400 Speaker 1: of the respondents expect the tenier treasury yield to peak 44 00:02:38,520 --> 00:02:40,720 Speaker 1: over the next nine months at the low three point 45 00:02:40,800 --> 00:02:43,800 Speaker 1: seven percent, and most think that the Fed is going 46 00:02:43,840 --> 00:02:47,120 Speaker 1: to start cutting rates in so definitely, it's a pretty 47 00:02:47,240 --> 00:02:52,440 Speaker 1: muted outlook going into Bloomberg's Heather burg says, the majority 48 00:02:52,440 --> 00:02:54,400 Speaker 1: in the survey you say the FED funds rate will 49 00:02:54,400 --> 00:02:56,919 Speaker 1: peak at four percent or less. Well. One other note 50 00:02:56,919 --> 00:02:59,760 Speaker 1: on inflation, Karen, prices may be close to peaking, but 51 00:02:59,760 --> 00:03:02,359 Speaker 1: they won't come down quickly. That's according to an analysis 52 00:03:02,360 --> 00:03:05,520 Speaker 1: from Bloomberg Economics, which says inflation is likely to stay 53 00:03:05,560 --> 00:03:08,359 Speaker 1: above eight percent through the end of the year. In fact, 54 00:03:08,400 --> 00:03:11,720 Speaker 1: it seems model assigns zero probability that inflation will drop 55 00:03:11,720 --> 00:03:14,919 Speaker 1: below four percent in the feed is not the only 56 00:03:14,960 --> 00:03:17,119 Speaker 1: thing in focus this week, Nathan. It's also a big 57 00:03:17,200 --> 00:03:20,040 Speaker 1: few days for major tech earnings. Should get more from 58 00:03:20,040 --> 00:03:23,320 Speaker 1: Bloomberg's Charlie Pellett. It's a week one we'll hear from 59 00:03:23,440 --> 00:03:28,480 Speaker 1: names including Alphabet, Apple, Amazon, Microsoft, and Meta Platforms, among 60 00:03:28,600 --> 00:03:31,640 Speaker 1: many others. We will also hear from more than thirty 61 00:03:31,720 --> 00:03:35,440 Speaker 1: percent of SMP five hundred companies. Liz Young is head 62 00:03:35,440 --> 00:03:39,280 Speaker 1: of investment strategy at SO five. Earning season has been mixed, 63 00:03:39,400 --> 00:03:42,760 Speaker 1: not terrible so far, but we have heard from a 64 00:03:42,800 --> 00:03:46,160 Speaker 1: lot of companies that they're thinking the following environment is 65 00:03:46,200 --> 00:03:49,400 Speaker 1: going to be more challenging, so they're preparing themselves for 66 00:03:49,440 --> 00:03:53,280 Speaker 1: that challenge. Also on deck this week three m Boeing, Chevron, 67 00:03:53,360 --> 00:03:59,040 Speaker 1: Coca Cola, GM, Hilton, MasterCard, McDonald's, PROC doing Gamble ups 68 00:03:59,040 --> 00:04:03,800 Speaker 1: and Visa in New York. Charlie Pett Bloomberg Daybreak. All right, Charlie, thanks, 69 00:04:03,800 --> 00:04:06,440 Speaker 1: and they're even more earnings this week in Europe. Let's 70 00:04:06,440 --> 00:04:08,440 Speaker 1: go to London, get the leaders done that with bloombergs 71 00:04:08,520 --> 00:04:10,800 Speaker 1: Uan Parks, good morning, Good morning, Nathan, and Karen. A 72 00:04:10,880 --> 00:04:14,120 Speaker 1: bump a week for European earnings. Ryanair has posted a 73 00:04:14,120 --> 00:04:17,480 Speaker 1: profit for the first quarter ahead of estimates. Europe's largest 74 00:04:17,520 --> 00:04:21,000 Speaker 1: discount airline says it's cautious about bookings, though beyond the 75 00:04:21,080 --> 00:04:25,160 Speaker 1: current summer travel boom. Meanwhile, first half profits slumping at 76 00:04:25,240 --> 00:04:29,239 Speaker 1: Swiss wealth managers Julius Bear. That's as wild market swings 77 00:04:29,320 --> 00:04:32,279 Speaker 1: spoots clients and a cut to sales guidance for this 78 00:04:32,360 --> 00:04:35,560 Speaker 1: year from medical equipment maker Phillips. It's been hit by 79 00:04:35,560 --> 00:04:40,080 Speaker 1: inflationary pressures, supply chain troubles and COVID lockdowns in China. 80 00:04:40,320 --> 00:04:43,039 Speaker 1: Phillips the worst performing share on the stocky hundred today, 81 00:04:43,080 --> 00:04:45,600 Speaker 1: down more than ten percent. In London, I'm you and 82 00:04:45,640 --> 00:04:48,120 Speaker 1: part Spoomberg Daybreak, You and thank You and other news 83 00:04:48,200 --> 00:04:51,400 Speaker 1: this morning, international concern is growing over monkey Parks. The 84 00:04:51,400 --> 00:04:54,400 Speaker 1: World Health Organization has declared the monkey Parks outbreak a 85 00:04:54,520 --> 00:04:57,800 Speaker 1: public health emergency. We get the leadersh live from Bloomberg's 86 00:04:57,800 --> 00:04:59,760 Speaker 1: Real He too Young, Good Morning, Ready to Good Morning 87 00:04:59,760 --> 00:05:02,720 Speaker 1: Care and the lack of urgency and coordination in testing 88 00:05:02,720 --> 00:05:05,200 Speaker 1: and treatment for the monkey pox virus in many parts 89 00:05:05,240 --> 00:05:08,280 Speaker 1: of the world has prompted the World Health Organization to 90 00:05:08,480 --> 00:05:11,839 Speaker 1: sound the alarm. The virus has spread to about sixteen 91 00:05:11,880 --> 00:05:14,760 Speaker 1: thousand people in more than seventy countries in just a 92 00:05:14,760 --> 00:05:18,400 Speaker 1: few months, and White House COVID nineteen response coordinator dr 93 00:05:18,440 --> 00:05:22,760 Speaker 1: Ashishta says monkeypos can be contained. The way we contain 94 00:05:22,800 --> 00:05:25,839 Speaker 1: monkey pox is we have a very simple, straightforward strategy 95 00:05:25,880 --> 00:05:28,560 Speaker 1: on this right, which is make testing widely available. We 96 00:05:28,600 --> 00:05:31,039 Speaker 1: have done that and now testing is far more frequent 97 00:05:31,080 --> 00:05:33,800 Speaker 1: and common. We're going to be releasing hundreds of thousands 98 00:05:33,800 --> 00:05:37,360 Speaker 1: of more vaccines in the next days and weeks. Dr 99 00:05:37,400 --> 00:05:40,719 Speaker 1: Ashishta made the comments on CBSS Face the Nation. You 100 00:05:40,760 --> 00:05:44,359 Speaker 1: can hear the program Sundays on Bloomberg Radio Live in 101 00:05:44,400 --> 00:05:47,440 Speaker 1: New York. I'm reneed a young Bloomberg Radio Okay, Nita, 102 00:05:47,520 --> 00:05:49,760 Speaker 1: thanks training to COVID nineteen. Now we have an update 103 00:05:49,800 --> 00:05:52,560 Speaker 1: on President Biden's condition as he recovers from about with 104 00:05:52,640 --> 00:05:55,479 Speaker 1: the virus. Amy Morris has details from our Bloomberg ninety 105 00:05:55,760 --> 00:05:59,280 Speaker 1: one newsroom in Washington. White House physician Kevin O'Connor says 106 00:05:59,320 --> 00:06:02,640 Speaker 1: President by the symptoms are improving significantly, with the most 107 00:06:02,720 --> 00:06:06,120 Speaker 1: prominent symptom now a sore thrope. O'Connor says the seventy 108 00:06:06,200 --> 00:06:09,039 Speaker 1: nine year old who is vaccinated and double boosted, is 109 00:06:09,080 --> 00:06:11,800 Speaker 1: responding to therapy. Is expected, and his other symptoms have 110 00:06:11,920 --> 00:06:15,159 Speaker 1: diminished considerably. Biden is being treated with packs la it It It, 111 00:06:15,279 --> 00:06:16,960 Speaker 1: He takes tail and all and has been using an 112 00:06:17,000 --> 00:06:19,520 Speaker 1: inhaler two to three times a day. The White House 113 00:06:19,560 --> 00:06:23,240 Speaker 1: says he's still working as he continues to isolate in Washington. 114 00:06:23,320 --> 00:06:25,919 Speaker 1: I'm Amy Morris Bloomberg Daybreak. All right, Amy, thank you. 115 00:06:25,960 --> 00:06:28,599 Speaker 1: In corporate news this morning, Apple has announced a rare 116 00:06:28,760 --> 00:06:32,000 Speaker 1: retail promotion in China. It's offering four days of discounts 117 00:06:32,000 --> 00:06:35,040 Speaker 1: and its top tier iPhones and related accessories ahead of 118 00:06:35,040 --> 00:06:38,039 Speaker 1: the launch of its next generation devices. The company is 119 00:06:38,080 --> 00:06:41,840 Speaker 1: historically reluctant to alter pricing. The discounts come as China's 120 00:06:41,839 --> 00:06:44,919 Speaker 1: economy tries to bounce back from major COVID lockdowns in 121 00:06:45,000 --> 00:06:48,880 Speaker 1: Shanghai and Beijing. Finally, Karen Elon Musk is denying that 122 00:06:48,920 --> 00:06:51,920 Speaker 1: he had an affair with Google co founder Sergey Brinn's wife. 123 00:06:52,040 --> 00:06:54,360 Speaker 1: According to The Wall Street Journal, this alleged affair took 124 00:06:54,360 --> 00:06:57,320 Speaker 1: place in December. The newspaper says it led Brinn to 125 00:06:57,360 --> 00:07:00,520 Speaker 1: sell his investments in Muskus companies, but my says the 126 00:07:00,560 --> 00:07:03,719 Speaker 1: story isn't true that he's still friends with Bran brand 127 00:07:03,760 --> 00:07:06,880 Speaker 1: filed for divorced from his wife back in January. SMP 128 00:07:07,000 --> 00:07:09,240 Speaker 1: futures right now are up six team points, Staff futures 129 00:07:09,320 --> 00:07:13,200 Speaker 1: up a hundred seventeen, Nasdaq futures higher by fifty eight points. 130 00:07:13,320 --> 00:07:16,640 Speaker 1: And straight ahead, we have your latest local headlines plus 131 00:07:16,640 --> 00:07:24,560 Speaker 1: a check of sports. You're listening to Bloomberg Daybreak at 132 00:07:24,560 --> 00:07:26,320 Speaker 1: six o seven on Wall Street where at eighty two 133 00:07:26,320 --> 00:07:28,600 Speaker 1: degrees in Central Park down dealing with the wreck near 134 00:07:28,720 --> 00:07:32,520 Speaker 1: Newark Airport southbound Root twenty one by Clay Street. More 135 00:07:32,560 --> 00:07:34,840 Speaker 1: coming up in traffic. First John Tucker with more on 136 00:07:34,880 --> 00:07:36,600 Speaker 1: what's going on in New York and around the world. 137 00:07:36,600 --> 00:07:39,320 Speaker 1: Good morning, John, Good morning Nathan historic keat has a 138 00:07:39,320 --> 00:07:42,560 Speaker 1: lot of people struggling to pay utility bills, and as 139 00:07:42,560 --> 00:07:45,480 Speaker 1: bloombergston he's felt like Greeney tells us. The Senate Majority 140 00:07:45,520 --> 00:07:49,480 Speaker 1: leader Chuck Schumer's as people need more help. Senator Schumer 141 00:07:49,520 --> 00:07:53,960 Speaker 1: says demand for New York's federally funded cooling assistance program 142 00:07:54,160 --> 00:07:58,600 Speaker 1: is unprecedented. There has been such a big demand for 143 00:07:58,720 --> 00:08:02,720 Speaker 1: this program given the heat way. The applications went up 144 00:08:02,720 --> 00:08:08,160 Speaker 1: from about ten thousand to thirty thousand, increase in demand, 145 00:08:08,360 --> 00:08:11,080 Speaker 1: and Sumer is proposing adding billions of dollars to the 146 00:08:11,080 --> 00:08:13,800 Speaker 1: budget for the program after it had to stop taking 147 00:08:13,840 --> 00:08:17,400 Speaker 1: applications because it was so oversubscribed to the spell a 148 00:08:17,440 --> 00:08:21,559 Speaker 1: greedy Blueberg radio a destructive wildfire near Yosemite has burned 149 00:08:21,600 --> 00:08:24,720 Speaker 1: out of control through tinder drive forests and has grown 150 00:08:24,760 --> 00:08:27,800 Speaker 1: into one of California's biggest blazes of the year. It's 151 00:08:27,800 --> 00:08:31,520 Speaker 1: worth thousands of residents to flee remote mountain communities the 152 00:08:31,680 --> 00:08:34,760 Speaker 1: share of genermy breeze. As the fight is far from over. 153 00:08:35,120 --> 00:08:39,720 Speaker 1: There is hot ash, hot trees, still stuff throwing stuff 154 00:08:39,760 --> 00:08:43,800 Speaker 1: over the line, causing US concerns. Two thousand firefighters battle 155 00:08:43,840 --> 00:08:47,120 Speaker 1: the Oak Creek fire, facing tough conditions including steep terrain, 156 00:08:47,280 --> 00:08:51,520 Speaker 1: sweltering temperatures at low humidity. Donald Trump is heading back 157 00:08:51,559 --> 00:08:55,280 Speaker 1: to Washington as Republican rivals maneuver for a possible primary 158 00:08:55,360 --> 00:08:59,840 Speaker 1: challenge at Loanmaker's probe his culpability for the January six insurrection. 159 00:09:00,240 --> 00:09:03,080 Speaker 1: The former president will deliver a keynote speech Tuesday at 160 00:09:03,080 --> 00:09:07,400 Speaker 1: the America First Agenda Summit, a conservative conference. Trump isn't 161 00:09:07,400 --> 00:09:09,800 Speaker 1: expanded to announce that third run for president and his 162 00:09:09,960 --> 00:09:13,920 Speaker 1: Washington's speech, at least according to advisers Today his former 163 00:09:14,000 --> 00:09:16,640 Speaker 1: vice president might pants will deliverer marks of his own. 164 00:09:17,320 --> 00:09:20,040 Speaker 1: A live stream of the church service in New York 165 00:09:20,120 --> 00:09:23,920 Speaker 1: was interrupted Sunday morning by a robbery. Three gun toting 166 00:09:23,960 --> 00:09:27,400 Speaker 1: thieves entered the leaders of Tomorrow International Ministries in Brooklyn, 167 00:09:27,720 --> 00:09:31,679 Speaker 1: demanding valuables from Bishop Lamar Whitehead. You know, took my watch, 168 00:09:31,720 --> 00:09:34,600 Speaker 1: took my jury, took my bishop's ring, took my wedding den, 169 00:09:34,920 --> 00:09:37,680 Speaker 1: and then he took my bishop's cross. Well, the bishop says, 170 00:09:37,720 --> 00:09:41,280 Speaker 1: the thieves drove away, you know, white Mercedes. New York 171 00:09:41,320 --> 00:09:44,559 Speaker 1: City ranks ninety three in the US for public bathrooms 172 00:09:44,600 --> 00:09:47,520 Speaker 1: per capita. Now there's a will ended opening more public 173 00:09:47,520 --> 00:09:50,520 Speaker 1: bathrooms that has the support to pass the city Council. 174 00:09:51,000 --> 00:09:54,320 Speaker 1: The effort comes after widespread shutdowns during the early days 175 00:09:54,360 --> 00:09:57,400 Speaker 1: of the pandemic made it even harder to find a restroom. 176 00:09:57,720 --> 00:10:01,840 Speaker 1: The Metropolitan Transportation Authority shutter to all seventies six toilets 177 00:10:01,960 --> 00:10:04,959 Speaker 1: in the subway system. Global News twenty four hours a 178 00:10:05,000 --> 00:10:07,880 Speaker 1: day on air hand on Bloomberg Quicktake. We're powered by 179 00:10:07,960 --> 00:10:10,560 Speaker 1: more than twenty seven hundred journalists and analysts and more 180 00:10:10,600 --> 00:10:14,280 Speaker 1: than one d twenty countries. I'm John Tucker. This is 181 00:10:14,320 --> 00:10:21,680 Speaker 1: Bloomberg Nathan, Thanks John six ten on Wall Street. John 182 00:10:21,679 --> 00:10:24,760 Speaker 1: Stashar has a Bloomberg Sports Uday. Thanks Nathan, Aaron, Judge, 183 00:10:24,760 --> 00:10:27,760 Speaker 1: pet Alonso, the two New York City Sluggers. They've got 184 00:10:27,760 --> 00:10:30,079 Speaker 1: the two most runs vetted in in the majors, and 185 00:10:30,120 --> 00:10:33,560 Speaker 1: they'll be facing off tomorrow and Wednesday. A brief subway 186 00:10:33,600 --> 00:10:36,240 Speaker 1: series at City Field. Yesterday in Baltimore, another home run 187 00:10:36,280 --> 00:10:39,400 Speaker 1: for Judges thirty seven. He hit three in the series 188 00:10:39,480 --> 00:10:41,280 Speaker 1: and in the game where he did homary at four hits. 189 00:10:41,360 --> 00:10:44,480 Speaker 1: Jose Travino had four hits. Mr. Cortez and the Yanks 190 00:10:44,480 --> 00:10:47,079 Speaker 1: shout out the oriol six nothing. Last night city Field, 191 00:10:47,080 --> 00:10:49,880 Speaker 1: the Mets held scoreless until the sixth inning. At that 192 00:10:49,960 --> 00:10:52,080 Speaker 1: point they had only scored two runs in the series. 193 00:10:52,120 --> 00:10:55,559 Speaker 1: Alonso then unloaded three run homer. Mets went on to 194 00:10:55,679 --> 00:10:58,120 Speaker 1: lead the Padres eight to one, and then held on 195 00:10:58,440 --> 00:11:01,240 Speaker 1: to beat San Diego eight to five five in Atlanta loss. 196 00:11:01,240 --> 00:11:03,160 Speaker 1: So the Mets are a game and a half ahead 197 00:11:03,160 --> 00:11:05,560 Speaker 1: of the praise. Among those inducted into the Baseball Hall 198 00:11:05,600 --> 00:11:08,640 Speaker 1: of Fame, Gil Hodges fifty years after his death. He 199 00:11:08,760 --> 00:11:11,760 Speaker 1: was one of the Boys of Summer of Beloved Brooklyn 200 00:11:11,800 --> 00:11:15,800 Speaker 1: Dodger first baseman. His daughter Irene made his induction speech. 201 00:11:16,040 --> 00:11:19,880 Speaker 1: When my father slumped in the nineteen fifty two World Series, 202 00:11:20,520 --> 00:11:26,160 Speaker 1: Brooklyn fans loved him who goes over and gets the 203 00:11:26,280 --> 00:11:31,040 Speaker 1: standing ovation every time at bat Mets fans loved him too. Hodges, 204 00:11:31,080 --> 00:11:34,080 Speaker 1: of course, the manager the Miracle Mets. In nineteen sixty nine, 205 00:11:34,440 --> 00:11:38,480 Speaker 1: Cleon Jones ed Cranepool, Art Shamsky, Ron Swoboda, and the 206 00:11:38,559 --> 00:11:41,199 Speaker 1: daughter of the late Tom Siever. We're all there in 207 00:11:41,240 --> 00:11:44,640 Speaker 1: Cooper's Town where David Ortiz, Jim Cott, Tony Oliva, the 208 00:11:44,679 --> 00:11:47,520 Speaker 1: late Mini Minosa, and Buff O'Neil were all inducted as well. 209 00:11:47,800 --> 00:11:50,400 Speaker 1: Three M Golf in Minnesota. Tony Fidou trailed by five 210 00:11:50,440 --> 00:11:52,880 Speaker 1: shots with eleven holes to play. He won by three. 211 00:11:53,080 --> 00:11:57,199 Speaker 1: John Stash Bloomberg Sports, Thank you, John SMP futures of 212 00:11:57,360 --> 00:11:59,679 Speaker 1: sixteen points south features of a hundred twenty four dance 213 00:11:59,720 --> 00:12:03,240 Speaker 1: actually higher by fifty nine points. You're listening to Bloomberg 214 00:12:03,320 --> 00:12:09,080 Speaker 1: day Break Bloomber eleven three oh weather. Some showers and 215 00:12:09,120 --> 00:12:11,439 Speaker 1: storms possible today with the heat Advisor in effect till 216 00:12:11,440 --> 00:12:13,640 Speaker 1: eight pm for parts of northern New Jersey. Will be 217 00:12:13,679 --> 00:12:16,439 Speaker 1: in the mid eighties tomorrow, oper eighties by Wednesday right 218 00:12:16,440 --> 00:12:24,760 Speaker 1: now one in Central Park markets, headlines and breaking news 219 00:12:24,840 --> 00:12:27,439 Speaker 1: twenty four hours a day at Bloomberg dot Com, the 220 00:12:27,520 --> 00:12:31,640 Speaker 1: Bloomberg Business at and at Bloomberg Quicktape He's a Bloomberg 221 00:12:31,720 --> 00:12:40,800 Speaker 1: Business lash and I'm Karen Moscow and US dot get 222 00:12:40,880 --> 00:12:43,640 Speaker 1: Next Future is on the rise this morning, while European 223 00:12:43,720 --> 00:12:46,480 Speaker 1: shares are also gaining. Now. We check the markets every 224 00:12:46,480 --> 00:12:50,160 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg SNP futures 225 00:12:50,200 --> 00:12:52,600 Speaker 1: up twenty points now. Futures of a hundred fifty two 226 00:12:52,720 --> 00:12:55,720 Speaker 1: nasday Future is up seventy one. The decks in Germany's 227 00:12:55,800 --> 00:12:59,120 Speaker 1: up half per cent. Attend your treasury down fourteen thirty seconds, 228 00:12:59,320 --> 00:13:01,920 Speaker 1: he'll two point zero percent. They yield on the two 229 00:13:02,000 --> 00:13:05,640 Speaker 1: year two point nine percent. Nimex Scrude oil is up 230 00:13:05,679 --> 00:13:07,920 Speaker 1: one per cent or ninety six cents at ninety five 231 00:13:08,240 --> 00:13:10,800 Speaker 1: sixty six cents of Barrel Comic School is up two 232 00:13:10,840 --> 00:13:14,720 Speaker 1: tenths per cent or two dollars ninety cents a seventy announced. 233 00:13:14,880 --> 00:13:17,720 Speaker 1: The euro one point zero to three three against the dollar, 234 00:13:17,760 --> 00:13:20,280 Speaker 1: British found one point two zero four or five, and 235 00:13:20,320 --> 00:13:22,559 Speaker 1: the yen at one thirty six point three one. And 236 00:13:22,720 --> 00:13:25,240 Speaker 1: look at a bitcoin this morning, it's down three percent 237 00:13:25,280 --> 00:13:28,920 Speaker 1: at twenty two thow five dollars. That's a Bloomberg business flash. 238 00:13:28,920 --> 00:13:31,120 Speaker 1: Now here's John Tucker with more on what's going on 239 00:13:31,160 --> 00:13:34,800 Speaker 1: around the world. John and carry the international concern growing 240 00:13:34,800 --> 00:13:38,079 Speaker 1: over monkey pox. The World Health Organization has declared the 241 00:13:38,080 --> 00:13:42,480 Speaker 1: monkey pots outbreak of public health emergency. Elon Boss denying 242 00:13:42,559 --> 00:13:45,760 Speaker 1: he had an affair with Google co founders Sergey Brin's wife. 243 00:13:45,920 --> 00:13:48,800 Speaker 1: According to The Wall Street Journal, the alleged defferent took 244 00:13:48,840 --> 00:13:53,559 Speaker 1: place in December, and a destructive wildfire near Yosemite National 245 00:13:53,640 --> 00:13:57,920 Speaker 1: Park burning out of control through tinder dry forests. Thousands 246 00:13:57,920 --> 00:14:00,920 Speaker 1: of residents in the area have been evacua. In it, sports, 247 00:14:01,320 --> 00:14:04,400 Speaker 1: Yankees beat the Ohs, the Mets top the Podres, Red 248 00:14:04,440 --> 00:14:07,800 Speaker 1: Sox fall to the Blue Jays, the Dodgers beat the Giants. 249 00:14:07,840 --> 00:14:11,680 Speaker 1: The Nationals also beat the Diamondbacks. Global News twenty four 250 00:14:11,679 --> 00:14:14,079 Speaker 1: hours a day on air in a Bloomberg quick take 251 00:14:14,160 --> 00:14:17,280 Speaker 1: power by more than twenty seven hundred journalists and analysts. 252 00:14:17,640 --> 00:14:20,560 Speaker 1: It more than one hundred twenty countries. I'm John Tucker 253 00:14:20,560 --> 00:14:23,240 Speaker 1: at vs is Bloomberg. Nathan Okay, John, thank you. At 254 00:14:23,240 --> 00:14:26,000 Speaker 1: six nineteen on Wall Street Live from the Bloomberg Interactive 255 00:14:26,000 --> 00:14:29,360 Speaker 1: Brokers studios. This is Bloomberg Daybreak and Michael Houston is 256 00:14:29,400 --> 00:14:32,720 Speaker 1: with us now, chief market analyst at CMC Markets. As 257 00:14:32,720 --> 00:14:34,360 Speaker 1: we get ready for a trading week, it's going to 258 00:14:34,400 --> 00:14:38,640 Speaker 1: be dominated by a Fed decision and big tech earnings. Michael, 259 00:14:38,760 --> 00:14:42,680 Speaker 1: good morning. Of course, a lot of focus now on 260 00:14:42,720 --> 00:14:46,040 Speaker 1: what the Fed will decide on Wednesday. It seems as 261 00:14:46,080 --> 00:14:49,760 Speaker 1: though they've pretty much telegraphed to seventy five basis point move. 262 00:14:49,840 --> 00:14:53,920 Speaker 1: So what are markets looking for ahead of that? Well? 263 00:14:53,960 --> 00:14:56,920 Speaker 1: I found I funny think it's actually quite telling that 264 00:14:57,760 --> 00:15:00,840 Speaker 1: we actually opened on the down swing hearing Europe, and 265 00:15:01,640 --> 00:15:04,480 Speaker 1: we've only started to edge higher after the German i 266 00:15:04,640 --> 00:15:07,480 Speaker 1: FO business survey posted some really die in numbers this 267 00:15:07,520 --> 00:15:12,480 Speaker 1: morning and has pulled us back rather counterintuitively into positive territory. 268 00:15:12,520 --> 00:15:16,240 Speaker 1: And I can't help thinking that markets are pricing in 269 00:15:16,920 --> 00:15:20,040 Speaker 1: they were getting close to the end of the central 270 00:15:20,040 --> 00:15:23,800 Speaker 1: bank hiking cycle. Then we are into the beginning. Certainly. 271 00:15:23,840 --> 00:15:25,600 Speaker 1: I think if you look at the way bond you 272 00:15:25,640 --> 00:15:27,640 Speaker 1: would have been behaving over the course of the past 273 00:15:27,680 --> 00:15:32,120 Speaker 1: few weeks. I can't help thinking that we've peaked and 274 00:15:32,200 --> 00:15:36,720 Speaker 1: that ultimately markets are now pricing in increased probability of recession. 275 00:15:37,520 --> 00:15:41,240 Speaker 1: And ultimately, after this week's seventy basis point rate hiked 276 00:15:41,280 --> 00:15:45,120 Speaker 1: by the Federal Reserve, I think the key message will 277 00:15:45,160 --> 00:15:49,000 Speaker 1: be how hard are the Fed going to go subsequent 278 00:15:49,080 --> 00:15:54,080 Speaker 1: to the Jackson Hole obviously in September and thereafter, And 279 00:15:54,120 --> 00:15:58,040 Speaker 1: I think markets are starting to price out the probability 280 00:15:58,120 --> 00:16:02,000 Speaker 1: of much more aggressive tightening as we head into the 281 00:16:02,120 --> 00:16:04,400 Speaker 1: second half of the year. That's certainly my feeling when 282 00:16:04,400 --> 00:16:07,240 Speaker 1: I look at the behavior of the US dollar, which 283 00:16:07,280 --> 00:16:10,600 Speaker 1: has started to show signs of rolling over. But really 284 00:16:10,640 --> 00:16:12,800 Speaker 1: I think it's what bond markets are telling me at 285 00:16:12,800 --> 00:16:17,480 Speaker 1: the moment. They're telling me that markets are, you know, 286 00:16:17,520 --> 00:16:20,920 Speaker 1: sort of doubtful about whether or not center banks are 287 00:16:20,920 --> 00:16:22,240 Speaker 1: going to be able to time as much as they 288 00:16:22,280 --> 00:16:24,880 Speaker 1: say that. So, are you thinking that there could be 289 00:16:25,080 --> 00:16:29,400 Speaker 1: a pivot from the Fed away from an inflation finding 290 00:16:29,440 --> 00:16:31,920 Speaker 1: focus to more of a focus now and trying to 291 00:16:31,960 --> 00:16:36,280 Speaker 1: avoid recession? Is that your call now? Not yet. I 292 00:16:36,320 --> 00:16:39,160 Speaker 1: don't think they'll signal it this early. I think they'll 293 00:16:39,200 --> 00:16:42,840 Speaker 1: go through with the basis points on Thursday. I think 294 00:16:42,920 --> 00:16:45,440 Speaker 1: it's way too early to signal any sort of pivot, 295 00:16:45,920 --> 00:16:48,520 Speaker 1: even though the markets are starting to price that. I 296 00:16:48,560 --> 00:16:51,320 Speaker 1: think if if we're going to see a pivot, look 297 00:16:51,320 --> 00:16:55,000 Speaker 1: howm at Jackson Hole, Because generally that's when the Federal 298 00:16:55,160 --> 00:16:58,520 Speaker 1: Reserve it tends to lay out what it expects for 299 00:16:58,560 --> 00:17:01,080 Speaker 1: the U S economy over the course of the next 300 00:17:01,840 --> 00:17:04,199 Speaker 1: three to four months into year end, and they'll have 301 00:17:04,280 --> 00:17:07,320 Speaker 1: more data to work with a Jackson Hall, they'll have 302 00:17:07,359 --> 00:17:10,879 Speaker 1: another I'll have another two payrolls reports to work with, 303 00:17:11,800 --> 00:17:14,440 Speaker 1: They'll have two months more data. I mean that services 304 00:17:14,520 --> 00:17:18,200 Speaker 1: data that we saw on Friday was particularly surprising and 305 00:17:18,240 --> 00:17:20,160 Speaker 1: a little bit shocking. And I'll be interested to see 306 00:17:20,160 --> 00:17:23,399 Speaker 1: whether or not the I S M non manufacturing data 307 00:17:23,920 --> 00:17:27,639 Speaker 1: supports the decline that we saw in the more general 308 00:17:27,640 --> 00:17:30,840 Speaker 1: Peremo numbers that we saw last week. How much is 309 00:17:30,880 --> 00:17:34,320 Speaker 1: the Fed potentially affected by the European Central Banks decision 310 00:17:34,359 --> 00:17:37,120 Speaker 1: to go a little bit higher than the markets might 311 00:17:37,119 --> 00:17:39,960 Speaker 1: have been anticipating. Does that have any impact on what 312 00:17:40,040 --> 00:17:44,320 Speaker 1: the Fed decides this week? No, none, whatsoever. The ECB 313 00:17:44,520 --> 00:17:49,520 Speaker 1: has a completely different set of problems than the Federal Reserve. UM. 314 00:17:49,560 --> 00:17:52,280 Speaker 1: You know, the decision last week to hike by fifty 315 00:17:52,280 --> 00:17:54,919 Speaker 1: basis points was akin to bringing a knife to a 316 00:17:54,960 --> 00:17:58,320 Speaker 1: gunfight for the e c B, even though the markets 317 00:17:58,320 --> 00:18:00,639 Speaker 1: are talking about the prospect that probably going to be 318 00:18:00,720 --> 00:18:03,080 Speaker 1: able to hike by another hundred and fifty basis points 319 00:18:03,080 --> 00:18:06,600 Speaker 1: by year end, I seriously doubt that if if the 320 00:18:06,640 --> 00:18:10,760 Speaker 1: German economy and the European economy slides into recession um so, 321 00:18:10,880 --> 00:18:13,480 Speaker 1: I think as far as the ECB is concerned, it 322 00:18:13,560 --> 00:18:16,000 Speaker 1: has its own set of unique problems to deal with, 323 00:18:16,359 --> 00:18:19,399 Speaker 1: completely independent of the Federal Reserve. Now on top of 324 00:18:19,440 --> 00:18:21,400 Speaker 1: the FED decision this week, of course, we've got a 325 00:18:21,440 --> 00:18:24,800 Speaker 1: slew of big tech earnings. What's the bigger focus for 326 00:18:24,960 --> 00:18:27,760 Speaker 1: markets this week? Is that the tech earning story? Or 327 00:18:27,800 --> 00:18:31,679 Speaker 1: is it what the Fed decide? I think I actually 328 00:18:31,760 --> 00:18:34,000 Speaker 1: think it's the earning story. I think you saw the 329 00:18:34,080 --> 00:18:38,560 Speaker 1: reaction from those step numbers on at the end of 330 00:18:38,640 --> 00:18:42,560 Speaker 1: last week on Friday morning and the subsequent decline there, 331 00:18:42,560 --> 00:18:45,040 Speaker 1: and it's not the first time it's snapped. The sort 332 00:18:45,080 --> 00:18:46,560 Speaker 1: of acted as a little bit of a canary in 333 00:18:46,560 --> 00:18:49,680 Speaker 1: the coal mine when it comes to tech earnings. We've 334 00:18:49,680 --> 00:18:55,960 Speaker 1: got obviously alphabet tomorrow. We've also got better later in 335 00:18:56,000 --> 00:18:58,639 Speaker 1: the week, and it was notable. I think for me, 336 00:18:58,800 --> 00:19:04,000 Speaker 1: Nathan in the US quota, how advertising revenues for Alphabet 337 00:19:04,119 --> 00:19:08,439 Speaker 1: actually disappointed towards the downside, and it was largely on 338 00:19:08,560 --> 00:19:11,680 Speaker 1: as a consequence of a shortfall and YouTube revenue. I'll 339 00:19:11,720 --> 00:19:13,840 Speaker 1: be interested to see whether or not that pattern is 340 00:19:13,880 --> 00:19:17,840 Speaker 1: repeated as we look ahead to the Q two numbers 341 00:19:17,880 --> 00:19:21,040 Speaker 1: and what their outlook is for Q three. More importantly, 342 00:19:21,040 --> 00:19:23,920 Speaker 1: I'm less concerned about metas numbers as I am about Amazon. 343 00:19:24,000 --> 00:19:28,680 Speaker 1: What do Amazon's numbers tell us about um It's costs, 344 00:19:29,000 --> 00:19:32,320 Speaker 1: it's margins, and also its outlook for the rest of 345 00:19:32,320 --> 00:19:35,720 Speaker 1: the year. Now lives to digest this week. Thanks for this, Michael, 346 00:19:35,760 --> 00:19:38,919 Speaker 1: always great to speak with you. Michael Houghson, Chief market 347 00:19:38,920 --> 00:19:43,400 Speaker 1: analyst at CMC Markets. Right now, SMP futures are up 348 00:19:43,600 --> 00:19:46,240 Speaker 1: eighteen points, stowth future is up a hundred forty six. 349 00:19:46,320 --> 00:19:49,439 Speaker 1: Nasdaq futures are higher by sixty four points. The ten 350 00:19:49,520 --> 00:19:52,240 Speaker 1: your treasury is down fourteen thirty seconds for a yield 351 00:19:52,240 --> 00:19:54,280 Speaker 1: of two point eight zero percent, and the yield on 352 00:19:54,320 --> 00:19:57,960 Speaker 1: the two year right now two point nine nine percent. 353 00:19:59,240 --> 00:20:08,600 Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh Weather 354 00:20:08,640 --> 00:20:10,400 Speaker 1: could see some storms today as we have a heat 355 00:20:10,400 --> 00:20:13,080 Speaker 1: advisory till eight tonight from parts of northern New Jersey. 356 00:20:13,160 --> 00:20:17,480 Speaker 1: High near ninety today, mid eighties tomorrow, oper eighties by Wednesday. 357 00:20:17,560 --> 00:20:23,600 Speaker 1: Right now one in Central Park, broadcasting live from the 358 00:20:23,640 --> 00:20:27,639 Speaker 1: Bloomberg Interactive Broker Studio in New York, Bloomberg E Living 359 00:20:27,680 --> 00:20:32,280 Speaker 1: Free to Washington, d C. Bloomberg to Boston, Bloomberg one 360 00:20:32,280 --> 00:20:35,480 Speaker 1: O six one does San Francisco, Bloomberg N sixty to 361 00:20:35,520 --> 00:20:38,639 Speaker 1: the country Sirius XM Chento one nine te and around 362 00:20:38,640 --> 00:20:42,560 Speaker 1: the globe the Bloomberg Business in Bloomberg Radio dot com. 363 00:20:42,600 --> 00:20:51,520 Speaker 1: This is Bloomberg Daybreak six thirty on Wall Street. Good morning, 364 00:20:51,560 --> 00:20:54,320 Speaker 1: I'm Nathan Hagar and I'm kmerin Moscow. We are just 365 00:20:54,400 --> 00:20:56,960 Speaker 1: about three hours away from the open of US training. 366 00:20:57,040 --> 00:20:58,679 Speaker 1: It's time for the five Things that you need to 367 00:20:58,680 --> 00:21:01,760 Speaker 1: notice start your day. Brought to you by Interactive Brokers 368 00:21:01,800 --> 00:21:05,320 Speaker 1: Global Analysts. It helps you find a global investment opportunities 369 00:21:05,320 --> 00:21:09,440 Speaker 1: to diversify your portfolio and discover undervalued companies that may 370 00:21:09,480 --> 00:21:12,480 Speaker 1: have greater growth potential. Try I v k R Global 371 00:21:12,480 --> 00:21:16,760 Speaker 1: Analysts today at IBKR dot com. Slash g A first 372 00:21:16,760 --> 00:21:20,280 Speaker 1: who begin with this week's highly anticipated FED meeting, when 373 00:21:20,320 --> 00:21:23,480 Speaker 1: Share J. Powell and his colleagues are expected to once 374 00:21:23,480 --> 00:21:26,880 Speaker 1: again approve a seventy five basis point hike in interest rates. 375 00:21:27,160 --> 00:21:30,320 Speaker 1: Treasury Secretary Janet Yellen says she does not believe the 376 00:21:30,400 --> 00:21:33,720 Speaker 1: US economy is in a broad recession, but inflation is 377 00:21:33,720 --> 00:21:37,560 Speaker 1: still a concern. Inflation is way too high. The FED 378 00:21:38,040 --> 00:21:41,480 Speaker 1: is charged with putting in place policies that will bring 379 00:21:41,560 --> 00:21:46,520 Speaker 1: inflation down, and I expect them to be successful. Treasury 380 00:21:46,520 --> 00:21:49,200 Speaker 1: Secretary Janet Yellen made the comments on ABC's and Meet 381 00:21:49,240 --> 00:21:51,240 Speaker 1: the Press, and you can hear the program Sundays on 382 00:21:51,280 --> 00:21:54,640 Speaker 1: Bloomberg Radio. Well, despite what Yellen saying, Karen, investors remain 383 00:21:54,720 --> 00:21:57,359 Speaker 1: skeptical that the Fed will contain inflation. That's according to 384 00:21:57,359 --> 00:22:00,000 Speaker 1: more than hundred of them who participated in a Bloomberg 385 00:22:00,000 --> 00:22:02,400 Speaker 1: and Live Pulse survey. According to a new model from 386 00:22:02,400 --> 00:22:05,800 Speaker 1: Bloomberg Economics, inflation is very likely to stay above eight 387 00:22:05,840 --> 00:22:09,200 Speaker 1: percent through year end, Nathan. Big tech earnings are also 388 00:22:09,280 --> 00:22:13,760 Speaker 1: in focus on Wall Street. We'll hear from Alphabet, Apple, Amazon, Microsoft, 389 00:22:13,800 --> 00:22:16,800 Speaker 1: and Meta this week. They join more than thirty s 390 00:22:16,840 --> 00:22:19,880 Speaker 1: and P five hundred companies scheduled to report another newscarent 391 00:22:19,960 --> 00:22:22,920 Speaker 1: international concern is growing over monkey poks. The World Health 392 00:22:23,000 --> 00:22:25,879 Speaker 1: Organizations declared it a public health emergency. Let's get the 393 00:22:25,920 --> 00:22:28,439 Speaker 1: latest from Bloomberg's We Need a Young The lack of 394 00:22:28,560 --> 00:22:31,879 Speaker 1: urgency and coordination and testing and treatment for the monkeypox 395 00:22:31,960 --> 00:22:34,560 Speaker 1: virus in many parts of the world has prompted the 396 00:22:34,560 --> 00:22:38,159 Speaker 1: World Health Organization to sound the alarm. The virus has 397 00:22:38,200 --> 00:22:41,480 Speaker 1: spread to about sixteen thousand people in more than seventy 398 00:22:41,560 --> 00:22:44,600 Speaker 1: countries in just a few months, and White House COVID 399 00:22:44,680 --> 00:22:49,560 Speaker 1: nineteen response Coordinator Dr Eshishja says monkey poks can be contained. 400 00:22:49,760 --> 00:22:51,920 Speaker 1: The way we contain monkey pox is we have a 401 00:22:52,040 --> 00:22:55,200 Speaker 1: very simple, straightforward strategy on this right, which is make 402 00:22:55,240 --> 00:22:57,680 Speaker 1: testing widely available. We have done that and now test 403 00:22:57,680 --> 00:22:59,840 Speaker 1: thing is far more frequent and common. We're going to 404 00:22:59,880 --> 00:23:02,480 Speaker 1: be releasing hundreds of thousands of more vaccines in the 405 00:23:02,560 --> 00:23:05,879 Speaker 1: next days and weeks. Dr S's made the comments on 406 00:23:06,040 --> 00:23:09,440 Speaker 1: CBS's Face the Nation. You can hear the program Sundays 407 00:23:09,480 --> 00:23:12,760 Speaker 1: on Bloomberg Radio Live in New York. I'm rend A 408 00:23:12,840 --> 00:23:15,040 Speaker 1: Young Bloomberg Radio. All right, we need to thank you, 409 00:23:15,080 --> 00:23:17,560 Speaker 1: and we have an update from the Biden administration. After 410 00:23:17,600 --> 00:23:20,840 Speaker 1: the President tested positive for COVID nineteen. Last week, White 411 00:23:20,880 --> 00:23:24,920 Speaker 1: House physician Kevin O'Connor says President Biden has a sore throat, 412 00:23:25,160 --> 00:23:28,120 Speaker 1: but his symptoms have improved significantly. That's the five things 413 00:23:28,160 --> 00:23:30,000 Speaker 1: you need to notice start your day. Brought to you 414 00:23:30,040 --> 00:23:39,520 Speaker 1: by Interactive Brokers, and this is Bloomberg. Thanks Karen Sixe 415 00:23:39,560 --> 00:23:41,920 Speaker 1: on Wall Street eighty two degrees in Central Park, still 416 00:23:41,960 --> 00:23:44,600 Speaker 1: dealing with an accident South Bench twenty one by Clay Street. 417 00:23:44,600 --> 00:23:46,800 Speaker 1: If you're headed to New York Airport. More coming up 418 00:23:46,800 --> 00:23:49,320 Speaker 1: in traffic. First John Tucker with what else is going 419 00:23:49,359 --> 00:23:51,840 Speaker 1: on in New York and around the world, John Nathan, 420 00:23:51,840 --> 00:23:54,920 Speaker 1: The heat is on again. The heat advisory still remains 421 00:23:54,920 --> 00:23:57,439 Speaker 1: an effect for parts of northern New Jersey until tonight. 422 00:23:57,960 --> 00:24:01,520 Speaker 1: And Bloomberg Media rounda is Gary Beastil. This relief is 423 00:24:01,560 --> 00:24:04,440 Speaker 1: in sight, John, A big ridge of high pressure that's 424 00:24:04,440 --> 00:24:06,639 Speaker 1: been responsible for all our heating commidity will begin to 425 00:24:06,640 --> 00:24:08,760 Speaker 1: break down a bit through today, so that's gonna be 426 00:24:08,800 --> 00:24:11,359 Speaker 1: more seasible weather coming up here for much of this week, 427 00:24:11,520 --> 00:24:14,280 Speaker 1: with temperatures mainly sitting in the eighties, and the Commitee 428 00:24:14,280 --> 00:24:16,919 Speaker 1: will be on the moderate to highside at times. Bloomberg 429 00:24:16,960 --> 00:24:20,000 Speaker 1: meteorologist Gary Best in Newark, New Jersey, there have been 430 00:24:20,080 --> 00:24:23,480 Speaker 1: five straight days of hitting one hundred degrees. That is 431 00:24:23,520 --> 00:24:27,480 Speaker 1: the longest stretch on record. At least two thousand firefighters 432 00:24:27,480 --> 00:24:31,000 Speaker 1: are battling a raging wildfire just west of Yosemite National Park. 433 00:24:31,480 --> 00:24:34,320 Speaker 1: More than six thousand residents have been forced from their homes. 434 00:24:34,720 --> 00:24:38,920 Speaker 1: Extreme drought fueling the flames. Colfire Battalion Chief John Heggie, 435 00:24:39,400 --> 00:24:41,840 Speaker 1: We're seeing that when change throughout the day, which really 436 00:24:41,880 --> 00:24:43,840 Speaker 1: kind of puts the firefront in different areas as we 437 00:24:44,119 --> 00:24:48,480 Speaker 1: fight the fire. California's governor has declared a state of emergency. 438 00:24:48,960 --> 00:24:52,159 Speaker 1: Donald Trump will test his waning appeal among Republicans with 439 00:24:52,200 --> 00:24:55,439 Speaker 1: a visit to the nation's capital. That story from Bloomberg's 440 00:24:55,480 --> 00:24:58,920 Speaker 1: Amy Morris. The former president will deliver a keynote speech 441 00:24:58,960 --> 00:25:01,480 Speaker 1: tomorrow at the America First Attend a summit in Washington, 442 00:25:01,560 --> 00:25:04,560 Speaker 1: a conservative conference. His remarks come on the heels of 443 00:25:04,560 --> 00:25:08,320 Speaker 1: a House Committee hearing that portrayed him standing by indifferently, 444 00:25:08,680 --> 00:25:12,359 Speaker 1: even vindictively, for hours as a mob of his supporters 445 00:25:12,359 --> 00:25:15,640 Speaker 1: battled police and chased lawmakers through the halls of the Capitol. 446 00:25:16,040 --> 00:25:18,920 Speaker 1: Trump is not expected to announce a third run for president. 447 00:25:18,920 --> 00:25:22,080 Speaker 1: In his Washington speech, his former Vice president Mike Pence 448 00:25:22,080 --> 00:25:25,960 Speaker 1: will deliver remarks of his own scheduled for today in Washington. 449 00:25:26,080 --> 00:25:28,879 Speaker 1: I'm anymore as Bloomberg Daybreak. He was the instrumental in 450 00:25:28,960 --> 00:25:33,480 Speaker 1: getting Republican George Pataki elected governor ed Aldemotto elected Senator. 451 00:25:33,600 --> 00:25:36,919 Speaker 1: In New York, the former state Conservative Party chairman Michael 452 00:25:36,920 --> 00:25:40,160 Speaker 1: Long has died. He was eighty two. And Poulpe Francis 453 00:25:40,240 --> 00:25:43,360 Speaker 1: has landed in Canada and what's being called a penitential 454 00:25:43,480 --> 00:25:47,960 Speaker 1: journey to apologize to Canada's indigenous people for the abuse 455 00:25:48,000 --> 00:25:51,800 Speaker 1: of children in residential schools going back to the nineteenth century, 456 00:25:52,240 --> 00:25:54,280 Speaker 1: Global news twenty four hours a day on the air 457 00:25:54,359 --> 00:25:57,240 Speaker 1: end on Bloomberg Quicktake power by more than twenty seven 458 00:25:57,280 --> 00:26:00,760 Speaker 1: hundred journalists and analysts and more than one trees. I'm 459 00:26:00,840 --> 00:26:08,880 Speaker 1: John Tucker. This is Bloomberg, Nathan, Thank you, John. Six 460 00:26:08,960 --> 00:26:11,240 Speaker 1: thirty five on Wall Street Time for the Bloomberg Sports 461 00:26:11,280 --> 00:26:13,960 Speaker 1: Update with John Ston Show. All right, Nathan Mets had 462 00:26:13,960 --> 00:26:16,000 Speaker 1: lost three in a row and only scored four runs 463 00:26:16,000 --> 00:26:18,119 Speaker 1: in those three games, and they began the day with 464 00:26:18,160 --> 00:26:20,800 Speaker 1: their lead over Atlanta. There was once ten and a 465 00:26:20,800 --> 00:26:23,480 Speaker 1: half games down to just a half game. The Braves loss, 466 00:26:23,520 --> 00:26:24,840 Speaker 1: so the Mets and knew they were not going to 467 00:26:24,960 --> 00:26:26,959 Speaker 1: fall out of first with their backs. Were quiet for 468 00:26:27,000 --> 00:26:29,879 Speaker 1: five innings against the Padres Joe Musgrove and then in 469 00:26:29,880 --> 00:26:32,680 Speaker 1: the sixth maybe their biggest hit of the season. Here's 470 00:26:32,680 --> 00:26:35,440 Speaker 1: the pitch, so we're gonna high five all we'll hit 471 00:26:35,640 --> 00:26:40,480 Speaker 1: up center. He's on the way there playing run Harmer 472 00:26:40,800 --> 00:26:44,080 Speaker 1: for Peter lots Hall over the Great Wall of Question 473 00:26:44,680 --> 00:26:48,440 Speaker 1: to the right, up the three seventy Mark Peter lots 474 00:26:48,480 --> 00:26:52,119 Speaker 1: all this crowd Eric City on the CBS. Mets tacked 475 00:26:52,160 --> 00:26:53,879 Speaker 1: on five more runs. They led eight to one, and 476 00:26:53,880 --> 00:26:56,040 Speaker 1: then they held on and beat San Diego eight to five. 477 00:26:56,080 --> 00:26:58,040 Speaker 1: They needed Edwin Diaz to come in and close it out. 478 00:26:58,080 --> 00:26:59,640 Speaker 1: He got his twenty first save. The Mets are off 479 00:26:59,640 --> 00:27:03,000 Speaker 1: today and they host the Yankees tomorrow. The Yanks in 480 00:27:03,080 --> 00:27:06,200 Speaker 1: Baltimore shut out the Orioles six to nothing. Esther Cortez 481 00:27:06,240 --> 00:27:08,480 Speaker 1: the first six in names Clark Schmidt, the last three 482 00:27:08,800 --> 00:27:11,240 Speaker 1: four hits for jose H. Travino and another home run 483 00:27:11,280 --> 00:27:14,879 Speaker 1: for Aaron Judge is thirty seven Houston right behind the Yanks. 484 00:27:14,920 --> 00:27:18,080 Speaker 1: The Astros finished a sweep in seattlele The Mariners began 485 00:27:18,160 --> 00:27:21,800 Speaker 1: that series writing a fourteen game winning streak. Speaking of streaks, 486 00:27:21,840 --> 00:27:24,480 Speaker 1: Red Sox have lost five in or O sweat fight Toronto, 487 00:27:24,560 --> 00:27:27,200 Speaker 1: and during the losing streak, the Red Sox have given 488 00:27:27,280 --> 00:27:29,960 Speaker 1: up sixty seven runs. They did yesterday get to see 489 00:27:29,960 --> 00:27:32,440 Speaker 1: one of their all time greats get inducted the Baseball 490 00:27:32,440 --> 00:27:34,840 Speaker 1: Hall of Fame. David Ortiz did his speech in both 491 00:27:34,920 --> 00:27:38,840 Speaker 1: English and Spanish. Tonyo Leiva Jim Cott both inducted as well, 492 00:27:38,880 --> 00:27:42,280 Speaker 1: and three went in posthumously, Minnie Minoso, Buck O'Neill and 493 00:27:42,400 --> 00:27:46,080 Speaker 1: Gil Hodges, the former Brooklyn Dodger first baseman and Mets manager. 494 00:27:46,400 --> 00:27:49,560 Speaker 1: John stash Award Bloomberg Sports Staton. All right, John, thank 495 00:27:49,600 --> 00:27:52,240 Speaker 1: you his sixty seven on Wall Street. Time now to 496 00:27:52,240 --> 00:27:54,040 Speaker 1: take a look at stock, some of the names moving 497 00:27:54,080 --> 00:27:56,600 Speaker 1: in the pre market, and Bloomberg Radio and TV markets 498 00:27:56,640 --> 00:28:00,159 Speaker 1: correspondent Krety Gufta is back with us this morning. Real 499 00:28:00,560 --> 00:28:04,080 Speaker 1: big week four tech earnings and we got some news 500 00:28:04,160 --> 00:28:06,800 Speaker 1: from Apple ahead of the results. We did get some 501 00:28:06,840 --> 00:28:09,560 Speaker 1: news from Apple. You know, it's interesting because I feel 502 00:28:09,560 --> 00:28:12,560 Speaker 1: like it's such a US centric week this week with 503 00:28:12,560 --> 00:28:14,600 Speaker 1: the Futo Reserve, with all our Eco data, and then 504 00:28:14,600 --> 00:28:16,119 Speaker 1: of course with earnings that you mentioned, I think it 505 00:28:16,160 --> 00:28:19,040 Speaker 1: is supposed to be the biggest earnings week that we 506 00:28:19,119 --> 00:28:21,679 Speaker 1: have this season. But I think you also have to 507 00:28:21,680 --> 00:28:23,520 Speaker 1: pay attention to what's going on in China when it 508 00:28:23,520 --> 00:28:26,000 Speaker 1: comes to Apple in particular. Now I'm gonna preface this 509 00:28:26,080 --> 00:28:28,199 Speaker 1: by saying Apple shares are up about five tents of 510 00:28:28,240 --> 00:28:30,840 Speaker 1: one percent. A p L is your taker. Well, now 511 00:28:31,000 --> 00:28:33,240 Speaker 1: six tenths of one percent is your highest volume trade 512 00:28:33,240 --> 00:28:35,920 Speaker 1: this morning in the pre market. That being said, there 513 00:28:36,000 --> 00:28:39,760 Speaker 1: is some news here China ceiling off an iphonemaker. So Apple, 514 00:28:39,800 --> 00:28:43,600 Speaker 1: for example in Shenzen to battle COVID. This is basically 515 00:28:43,600 --> 00:28:46,560 Speaker 1: their closed loop loop system. They're saying that because of 516 00:28:46,600 --> 00:28:49,120 Speaker 1: those lockdowns, they don't want to shut down the entire 517 00:28:49,240 --> 00:28:52,280 Speaker 1: production facilities. So what they're doing is having workers actually 518 00:28:52,320 --> 00:28:54,240 Speaker 1: work in this closed loop system, which means that you 519 00:28:54,400 --> 00:28:56,600 Speaker 1: sleep stay in the factory, You sleep in the factory 520 00:28:56,840 --> 00:28:59,239 Speaker 1: for seven days, and then you finally get out and 521 00:28:59,320 --> 00:29:01,160 Speaker 1: kind of take your time off, take your weekends. The 522 00:29:01,200 --> 00:29:03,880 Speaker 1: different working system, but basically what it does is it 523 00:29:03,920 --> 00:29:07,560 Speaker 1: tries to make sure that uh, the production and the 524 00:29:07,720 --> 00:29:12,160 Speaker 1: factory kind of work still go is ongoing. While still 525 00:29:12,400 --> 00:29:14,440 Speaker 1: kind of quarantining for COVID. So this is gonna be 526 00:29:14,440 --> 00:29:16,400 Speaker 1: a story you guys want to watch. It's not necessarily 527 00:29:16,400 --> 00:29:19,240 Speaker 1: affecting the stock this morning, Nathan, but it is something 528 00:29:19,480 --> 00:29:21,480 Speaker 1: that could affect it in the long term. As we 529 00:29:21,520 --> 00:29:24,640 Speaker 1: of course know, those COVID lockdowns and the Chinese approach 530 00:29:24,720 --> 00:29:26,960 Speaker 1: to it has heard a lot of production from Apple 531 00:29:27,000 --> 00:29:30,280 Speaker 1: to Tesla to you name it. Yeah, as we look 532 00:29:30,320 --> 00:29:33,840 Speaker 1: ahead to the open this morning, we're seeing some pretty 533 00:29:33,880 --> 00:29:37,840 Speaker 1: modest gains across the market sort of moving in tandem 534 00:29:37,880 --> 00:29:40,240 Speaker 1: this morning. Is it all about the Fed this week 535 00:29:40,320 --> 00:29:42,600 Speaker 1: or is it all about earnings? Oh? That is a 536 00:29:42,800 --> 00:29:45,800 Speaker 1: very hard, very very hard question. I'm gonna say, I'm 537 00:29:45,800 --> 00:29:48,040 Speaker 1: gonna vote earnings here because the Federal Reserve, I think 538 00:29:48,040 --> 00:29:50,040 Speaker 1: seventy five basis points is priced into the market and 539 00:29:50,040 --> 00:29:52,240 Speaker 1: you can see that on a macro level, but on 540 00:29:52,280 --> 00:29:54,600 Speaker 1: an internal level, I think one of the big question marks, 541 00:29:54,720 --> 00:29:58,280 Speaker 1: especially after Snapchat and and Twitter last week, is simply 542 00:29:58,560 --> 00:30:00,640 Speaker 1: do some of these big tech names actually have a 543 00:30:00,760 --> 00:30:04,160 Speaker 1: chance in terms of impressing investors. The standards are so high, 544 00:30:04,280 --> 00:30:07,360 Speaker 1: especially when you are kind of looking or investors are 545 00:30:07,360 --> 00:30:09,480 Speaker 1: looking really for any kind of Achilles heel, and I 546 00:30:09,480 --> 00:30:11,520 Speaker 1: think that's why this morning's price action is so important 547 00:30:11,560 --> 00:30:13,000 Speaker 1: when it comes to the tech name. So we talked 548 00:30:13,040 --> 00:30:14,760 Speaker 1: about Apple, but take a look at what Google shares 549 00:30:14,760 --> 00:30:17,120 Speaker 1: are doing. G O O G is your taker up 550 00:30:17,240 --> 00:30:21,560 Speaker 1: nine tenths of one percent. Even Intel, a semiconductor company, 551 00:30:21,640 --> 00:30:23,960 Speaker 1: I N TCSR taker up six tenths of one percent. 552 00:30:24,040 --> 00:30:26,280 Speaker 1: And then of course you always have Tesla T s 553 00:30:26,400 --> 00:30:28,360 Speaker 1: l A up one three percent. So to see that 554 00:30:28,480 --> 00:30:31,080 Speaker 1: tech is really right off the bat, kicking into high 555 00:30:31,080 --> 00:30:33,360 Speaker 1: gear and leading those games even in the pre market, 556 00:30:33,480 --> 00:30:35,720 Speaker 1: I would say it is pretty significant. That being said, 557 00:30:35,760 --> 00:30:37,640 Speaker 1: you do have some materials names in here as well, 558 00:30:37,680 --> 00:30:40,280 Speaker 1: So Newmont for example, any M is your taker. Uh 559 00:30:40,400 --> 00:30:43,120 Speaker 1: it's actually down two point two percent, So keep an 560 00:30:43,120 --> 00:30:45,680 Speaker 1: eye on that trade. The idea that defensives are coming back, 561 00:30:45,920 --> 00:30:49,000 Speaker 1: cyclicals perhaps taking a little bit of a backfoot. Bloomberg 562 00:30:49,080 --> 00:30:52,080 Speaker 1: Radio and TV markets correspondent Crety Goopta getting us ready 563 00:30:52,120 --> 00:30:55,840 Speaker 1: for a very busy week for the markets. Thanks as 564 00:30:55,880 --> 00:30:58,400 Speaker 1: always Crety, and looking ahead to the open. We have 565 00:30:58,520 --> 00:31:02,600 Speaker 1: SMP futures higher by eighteen points, down futures up at six, 566 00:31:03,040 --> 00:31:05,480 Speaker 1: NASDAC futures on the rise by fifty six points. The 567 00:31:05,520 --> 00:31:09,080 Speaker 1: tenure Treasury is down eleven thirty seconds now yield two 568 00:31:09,120 --> 00:31:11,520 Speaker 1: point seven nine percent. The yield on the two year 569 00:31:12,080 --> 00:31:16,760 Speaker 1: two point nine eight percent. You're listening to Bloomberg Daybreak 570 00:31:22,600 --> 00:31:24,960 Speaker 1: Bloomberg eleven three oh weather could be stormy today with 571 00:31:25,000 --> 00:31:27,160 Speaker 1: a heat advisor and effect till eight tonight for parts 572 00:31:27,200 --> 00:31:29,520 Speaker 1: of northern New Jersey. We'll get up to near ninety degrees, 573 00:31:29,920 --> 00:31:33,520 Speaker 1: mid eighties, sunny, less humid tomorrow. Uprighties Wednesday, right now 574 00:31:33,880 --> 00:31:39,800 Speaker 1: two in Central Park Markets, headlines and breaking news twenty 575 00:31:39,800 --> 00:31:42,680 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 576 00:31:42,680 --> 00:31:46,240 Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg 577 00:31:46,360 --> 00:31:55,440 Speaker 1: Business lash and I'm Karen Moscow. And futures are on 578 00:31:55,480 --> 00:31:57,440 Speaker 1: the rise. This morning. We go to the first word 579 00:31:57,480 --> 00:32:01,040 Speaker 1: breaking news, dask for today's morning call, and here's Bill Maloney. Bill, 580 00:32:01,080 --> 00:32:04,120 Speaker 1: good morning, Good morning, Kan. That's right. US futures are 581 00:32:04,120 --> 00:32:05,840 Speaker 1: in the green right now with down features up a 582 00:32:05,880 --> 00:32:08,719 Speaker 1: hundred and fifty three point sides Game nineteen well Nasdack 583 00:32:08,800 --> 00:32:12,160 Speaker 1: futures are higher by fifty seven. The US ten year 584 00:32:12,160 --> 00:32:14,520 Speaker 1: old at two point eight percent. Gold is up three 585 00:32:14,520 --> 00:32:17,560 Speaker 1: Oil is climbing, but big coin is down by three percent. 586 00:32:17,920 --> 00:32:20,680 Speaker 1: Asian markets dropped overnight, while your p markets are higher 587 00:32:20,680 --> 00:32:23,480 Speaker 1: this morning and back in the West. Sunny Economic Funday 588 00:32:23,520 --> 00:32:26,640 Speaker 1: thirties Chicago FED and at ten thirty that Dallas FED. 589 00:32:27,000 --> 00:32:31,200 Speaker 1: Regarding earnings this morning, RPM EPs miss estimates. Also look 590 00:32:31,240 --> 00:32:33,920 Speaker 1: for Newmont Mining to report. And in other news, Apple 591 00:32:33,960 --> 00:32:38,200 Speaker 1: prepares a rare iPhone discount for Chinese buyers. Wrapping things up, 592 00:32:38,240 --> 00:32:42,080 Speaker 1: black Stones cut to market perform over at KPW Live 593 00:32:42,160 --> 00:32:44,360 Speaker 1: from the first to breaking news Descomb. Bill Maloney can 594 00:32:44,640 --> 00:32:46,680 Speaker 1: all right, Bill, thank you, and to hear live Ricky 595 00:32:46,720 --> 00:32:49,760 Speaker 1: news over here. Bloomberg tap squawk on your terminal squ 596 00:32:50,120 --> 00:32:52,760 Speaker 1: a w K and that's a Bloomberg business flash. Now 597 00:32:52,800 --> 00:32:55,160 Speaker 1: here's John Tucker with Moore on what's going on around 598 00:32:55,160 --> 00:32:58,520 Speaker 1: the world. John Arn a destructive wildfire in the U 599 00:32:58,600 --> 00:33:01,600 Speaker 1: seventy manager the park burning out of control through tinder 600 00:33:01,720 --> 00:33:06,400 Speaker 1: dry forrest. Thousands have haven evacuated as a result. Former 601 00:33:06,440 --> 00:33:10,080 Speaker 1: President Donald Trump headed back to Washington, d C. He'll 602 00:33:10,120 --> 00:33:13,560 Speaker 1: be the keynote speaker at a conservative conference tomorrow. And 603 00:33:13,720 --> 00:33:16,760 Speaker 1: Elon Moss denying he had an affair with Google co 604 00:33:16,880 --> 00:33:20,240 Speaker 1: founder Sergei Brin's wife. According to The Wall Street Journal, 605 00:33:20,280 --> 00:33:24,000 Speaker 1: the alleged affair took place in December. Sports Yankees beat 606 00:33:24,000 --> 00:33:26,920 Speaker 1: the Orioles, the Mets top the Padres, the Red Sox 607 00:33:27,000 --> 00:33:29,560 Speaker 1: fall to the Blue Jays, Dodgers beat the Giants, and 608 00:33:29,760 --> 00:33:33,760 Speaker 1: the Nationals beat the Diamondbacks. Global News twenty four hours 609 00:33:33,760 --> 00:33:36,560 Speaker 1: a day on air and on Bloomberg Quicktake. We're powered 610 00:33:36,560 --> 00:33:39,760 Speaker 1: by more than twenty seven hundred journalists and analysts in 611 00:33:39,880 --> 00:33:43,360 Speaker 1: more than one twenty countries. I'm John Tucker at This 612 00:33:43,560 --> 00:33:49,120 Speaker 1: is Bloomberg. The following commentary is from Bloomberg Opinion. China's 613 00:33:49,160 --> 00:33:52,840 Speaker 1: economic engine is about to start shrinking. I'm Justin Fox, 614 00:33:53,000 --> 00:33:56,680 Speaker 1: a columnist for Bloomberg Opinion. Right now, China has nearly 615 00:33:56,720 --> 00:34:00,280 Speaker 1: a billion people fifteen to sixty four years old, which 616 00:34:00,320 --> 00:34:04,080 Speaker 1: generally termed the working age population. That's about five times 617 00:34:04,120 --> 00:34:07,479 Speaker 1: bigger than the same age group in the US. Because 618 00:34:07,520 --> 00:34:12,040 Speaker 1: of recent birth declines, China's gigantic working age population will 619 00:34:12,040 --> 00:34:15,239 Speaker 1: start shrinking before the end of this decade, according to 620 00:34:15,320 --> 00:34:19,640 Speaker 1: new United Nations population projections. It will then keep shrinking 621 00:34:20,000 --> 00:34:22,480 Speaker 1: for the rest of the century. Under the u N 622 00:34:22,560 --> 00:34:27,400 Speaker 1: scenario that best corresponds to current fertility trends, China's fifteen 623 00:34:27,440 --> 00:34:31,440 Speaker 1: to sixty four population will fall below five hundred million 624 00:34:31,480 --> 00:34:34,640 Speaker 1: in the two thousand sixties and below two hundred million 625 00:34:34,719 --> 00:34:37,399 Speaker 1: in the two thousand nineties. The U s working age 626 00:34:37,440 --> 00:34:41,080 Speaker 1: population is expected to decline under that scenario too, but 627 00:34:41,200 --> 00:34:44,200 Speaker 1: not nearly as fast, leaving it in roughly the same 628 00:34:44,280 --> 00:34:48,040 Speaker 1: ballpark as China's, which is pretty amazing to contemplate. I'm 629 00:34:48,120 --> 00:34:51,840 Speaker 1: justin Fox. For more opinion, please go to Bloomberg dot com, 630 00:34:51,920 --> 00:34:54,640 Speaker 1: slash Opinion or O P I n go on the 631 00:34:54,640 --> 00:34:59,680 Speaker 1: Bloomberg terminal has been Bloomberg Opinion and Bloomberg Opinion commentaries 632 00:34:59,680 --> 00:35:02,080 Speaker 1: can be heard every weekday at this time, and terminal 633 00:35:02,120 --> 00:35:04,759 Speaker 1: customers can read more at O P I n go. 634 00:35:05,680 --> 00:35:07,919 Speaker 1: It is six fifty on Wall Street. Return to news 635 00:35:07,920 --> 00:35:10,480 Speaker 1: and science and technology now with the Bloomberg and j 636 00:35:10,680 --> 00:35:13,120 Speaker 1: I T. STEM Report. It has brought to you by 637 00:35:13,200 --> 00:35:17,359 Speaker 1: New Jersey Institute of Technology, transforming computing professionals into data 638 00:35:17,400 --> 00:35:20,320 Speaker 1: scientists to meet the demand in this fast growing field. 639 00:35:20,600 --> 00:35:22,520 Speaker 1: Learn more at and j I T dot E d 640 00:35:22,680 --> 00:35:25,840 Speaker 1: U slash Data Science. And now here's let's making news 641 00:35:25,840 --> 00:35:30,640 Speaker 1: in science, Technology, Engineering, and math. President Biden's doctors, says 642 00:35:30,680 --> 00:35:34,240 Speaker 1: there are encouraging signs that he is overcoming the coronavirus. 643 00:35:34,480 --> 00:35:37,040 Speaker 1: The White House physician noted in a daily update that 644 00:35:37,120 --> 00:35:41,240 Speaker 1: the president's symptoms continue to improve significantly. He's being treated 645 00:35:41,280 --> 00:35:44,719 Speaker 1: with Viser's drug pack. Leavitt, the Director General of the 646 00:35:44,719 --> 00:35:48,480 Speaker 1: World Health Organization, has declared the monkeypox outbreak a public 647 00:35:48,520 --> 00:35:52,440 Speaker 1: health emergency of international concern. The virus has spread to 648 00:35:52,440 --> 00:35:56,040 Speaker 1: about sixteen thousand people in more than seventy countries in 649 00:35:56,120 --> 00:35:58,880 Speaker 1: just a few months. There's concerned that, as in the 650 00:35:58,960 --> 00:36:01,360 Speaker 1: early days of the OVID outbreak, there's a lack of 651 00:36:01,480 --> 00:36:05,319 Speaker 1: urgency and coordinating and testing and treatment. And Apple has 652 00:36:05,320 --> 00:36:08,399 Speaker 1: announced a rare retail promotion and Shinau it's offering four 653 00:36:08,480 --> 00:36:10,840 Speaker 1: days of discounts and its top to your iPhones and 654 00:36:10,880 --> 00:36:13,839 Speaker 1: related accessories in advance of the launch of its next 655 00:36:13,880 --> 00:36:17,800 Speaker 1: generation devices. The company is usually reluctant to alter pricing. 656 00:36:18,080 --> 00:36:20,919 Speaker 1: It discounts come as China's economy tries to bounce back 657 00:36:21,000 --> 00:36:24,840 Speaker 1: from major COVID nineteen lockdowns in business hub Shanghai and Beijing, 658 00:36:25,160 --> 00:36:28,520 Speaker 1: which have heard sales of leading domestic smartphone brands, and 659 00:36:28,560 --> 00:36:32,040 Speaker 1: as the Bloomberg and j I t stem report, Nathan Karen, 660 00:36:32,080 --> 00:36:34,840 Speaker 1: thank you. We are live from the Bloomberg Interactive Brokers Studios. 661 00:36:34,960 --> 00:36:36,759 Speaker 1: Or It's coming up to six fifty two on Wall 662 00:36:36,800 --> 00:36:38,840 Speaker 1: Street Time Now to check what's going on in d C. 663 00:36:39,200 --> 00:36:41,560 Speaker 1: Some of the top stories in our nation's capital include 664 00:36:41,560 --> 00:36:43,719 Speaker 1: members of the House January six Committee saying they have 665 00:36:43,760 --> 00:36:46,480 Speaker 1: built evidence of criminal wrongdoing going all the way to 666 00:36:46,560 --> 00:36:50,600 Speaker 1: former President Donald Trump. Republican Adam Kinzinger tells ABC's This 667 00:36:50,640 --> 00:36:53,799 Speaker 1: Week he hopes the Justice Department is watching. We never 668 00:36:53,840 --> 00:36:55,960 Speaker 1: want to get in a position as a country what 669 00:36:56,120 --> 00:37:00,680 Speaker 1: you see in failed democracies where every last administration is prosecuted. 670 00:37:01,000 --> 00:37:03,680 Speaker 1: But there is a massive difference between I'm going to 671 00:37:03,760 --> 00:37:09,000 Speaker 1: prosecute the last administration for political vengeance and not prosecuting 672 00:37:09,000 --> 00:37:13,160 Speaker 1: an administration that literally attempted a failed coup. Also making news, 673 00:37:13,320 --> 00:37:17,279 Speaker 1: the World Health Organization declaring monkey poks a global health emergency. 674 00:37:17,480 --> 00:37:20,759 Speaker 1: White House COVID Response Coordinator Doctor She's Jo says the 675 00:37:20,800 --> 00:37:23,480 Speaker 1: outbreak can be contained in the US. The way we 676 00:37:23,520 --> 00:37:26,480 Speaker 1: contain monkey poks is I make testing widely available. We 677 00:37:26,520 --> 00:37:28,560 Speaker 1: have done that, and now this thing is far more 678 00:37:28,560 --> 00:37:31,279 Speaker 1: frequent and common. We're going to be releasing hundreds of 679 00:37:31,320 --> 00:37:33,560 Speaker 1: thousands of more vaccines in the next days and weeks. 680 00:37:33,600 --> 00:37:36,520 Speaker 1: Doctor She's jaw is on CBSS Face the Nation and 681 00:37:36,520 --> 00:37:39,560 Speaker 1: ahead of the Federal Reserves policy decision this week, Treasury 682 00:37:39,600 --> 00:37:42,759 Speaker 1: Secretary Janet Yellin tells NBC's Meet the Press she does 683 00:37:42,800 --> 00:37:45,560 Speaker 1: not see signs the US economy is in a recession. 684 00:37:45,640 --> 00:37:50,600 Speaker 1: There is a slowdown, and businesses can see that, and 685 00:37:50,760 --> 00:37:54,879 Speaker 1: that's appropriate given that people now have jobs and we 686 00:37:54,920 --> 00:37:57,719 Speaker 1: have the strong riber market. Meet the Press, Face the 687 00:37:57,800 --> 00:37:59,760 Speaker 1: Nation and this week can all be heard every Sunday 688 00:37:59,800 --> 00:38:02,480 Speaker 1: right here on Bloomberg Radio. Let's bring in Bloomberg Government 689 00:38:02,480 --> 00:38:04,600 Speaker 1: reporter Emily Wilkins for more on what's happening in the 690 00:38:04,680 --> 00:38:07,880 Speaker 1: nation's capital. Emily, good morning. It sounds like the January 691 00:38:07,880 --> 00:38:11,840 Speaker 1: six Committee has a few lines of inquiry it could 692 00:38:11,840 --> 00:38:16,120 Speaker 1: potentially be looking into even after that final prime time hearing, 693 00:38:17,480 --> 00:38:20,759 Speaker 1: y Nathan, the thing that we've been hearing from listening 694 00:38:20,800 --> 00:38:23,080 Speaker 1: from Helene, Laura, from others on the panel is that 695 00:38:23,160 --> 00:38:26,200 Speaker 1: the dam has been broken, that they're starting to get 696 00:38:26,239 --> 00:38:29,360 Speaker 1: a lot more witnesses coming forward, being willing to testify 697 00:38:29,440 --> 00:38:32,360 Speaker 1: and be willing to share information. So the committee is 698 00:38:32,680 --> 00:38:34,680 Speaker 1: I guess we could call them on a break. Now. 699 00:38:34,680 --> 00:38:37,640 Speaker 1: They're certainly doing work behind the scenes, but we're not 700 00:38:37,680 --> 00:38:40,520 Speaker 1: going to be seeing more public hearings until we get 701 00:38:40,560 --> 00:38:43,480 Speaker 1: to September. And we're also keeping an eye out for 702 00:38:43,600 --> 00:38:46,080 Speaker 1: some sort of report from the committee. We initially were 703 00:38:46,080 --> 00:38:48,720 Speaker 1: expecting a final report around the end of this summer 704 00:38:48,840 --> 00:38:51,279 Speaker 1: early fall. Now it sounds like we might not get 705 00:38:51,280 --> 00:38:54,200 Speaker 1: a final one until a little bit later um. And 706 00:38:54,239 --> 00:38:56,520 Speaker 1: this is coming as the Committee is also trying to 707 00:38:56,760 --> 00:39:01,240 Speaker 1: figure out, uh, look into what happened with text messages 708 00:39:01,520 --> 00:39:05,080 Speaker 1: from the Secret Service from January five and January six. 709 00:39:05,120 --> 00:39:07,680 Speaker 1: The Committee had put in a request to get those 710 00:39:07,719 --> 00:39:10,400 Speaker 1: texts and they were told that they did not exist, 711 00:39:10,480 --> 00:39:13,080 Speaker 1: that those texts had been wiped when the phones are 712 00:39:13,120 --> 00:39:16,640 Speaker 1: reset to factory mode in January one. The Committee is 713 00:39:16,640 --> 00:39:18,879 Speaker 1: said they're going to continue to look into that. You've 714 00:39:18,920 --> 00:39:22,120 Speaker 1: got the Department of Homeland Securities Inspector General that's also 715 00:39:22,239 --> 00:39:25,319 Speaker 1: opened up an investigation into that. One. One thing that 716 00:39:25,400 --> 00:39:27,560 Speaker 1: really remains to be seen at this point a huge 717 00:39:27,640 --> 00:39:30,359 Speaker 1: question mark for the committee because whether or not they're 718 00:39:30,400 --> 00:39:34,200 Speaker 1: going to make any sort of criminal referral of Donald 719 00:39:34,200 --> 00:39:37,120 Speaker 1: Trump to the Justice Department. I know in that clip. 720 00:39:37,160 --> 00:39:41,279 Speaker 1: Obviously you heard Congressman Kinsinger suggests that that would be warranted, 721 00:39:41,840 --> 00:39:44,520 Speaker 1: but whether or not the committee decides to do so 722 00:39:44,800 --> 00:39:46,760 Speaker 1: is is still up in the air. And of course 723 00:39:46,840 --> 00:39:50,319 Speaker 1: comes as the Justice Department as well as other, uh 724 00:39:50,520 --> 00:39:53,640 Speaker 1: you know, attorney general departments and legal departments across the 725 00:39:53,680 --> 00:39:57,800 Speaker 1: country are looking into Trump and his actions around trying 726 00:39:57,800 --> 00:40:01,040 Speaker 1: to overturn the election and trying to come to some 727 00:40:01,080 --> 00:40:04,080 Speaker 1: conclusion about what, if anything, is going to be done 728 00:40:04,400 --> 00:40:08,680 Speaker 1: with the former president. And even with this ongoing legal overhang, 729 00:40:08,880 --> 00:40:12,400 Speaker 1: this is a very interesting week in Washington because former 730 00:40:12,400 --> 00:40:15,799 Speaker 1: President Trump is coming back to d C for the 731 00:40:15,840 --> 00:40:20,319 Speaker 1: first time since he left office after January six. Yeah, 732 00:40:20,440 --> 00:40:23,440 Speaker 1: the President's going to deliver a keynote speech on Tuesday 733 00:40:23,520 --> 00:40:27,239 Speaker 1: at the American First Agenda Summit, which is a conservative conference. 734 00:40:27,520 --> 00:40:30,520 Speaker 1: He's not expected to announce another run for president in 735 00:40:30,560 --> 00:40:33,239 Speaker 1: his speech, according to advisors, but we all know that 736 00:40:33,320 --> 00:40:35,960 Speaker 1: he sometimes likes to go off script um, and it's 737 00:40:35,960 --> 00:40:38,160 Speaker 1: certainly going to be just sort of a sense of 738 00:40:38,239 --> 00:40:42,600 Speaker 1: you know, what's the reaction of Trump in and around Washington, 739 00:40:42,719 --> 00:40:45,600 Speaker 1: d C. I mean, a city that's already um, pretty 740 00:40:45,600 --> 00:40:48,719 Speaker 1: globeral liberal as far as things go. Um, but also 741 00:40:48,840 --> 00:40:52,120 Speaker 1: just kind of a test um of Trump's continuing power 742 00:40:52,280 --> 00:40:55,720 Speaker 1: on the campaign trail. Um. I mean, certainly you've seen 743 00:40:56,320 --> 00:40:59,960 Speaker 1: the disapproval to approval rating for Trump. You've seen more 744 00:41:00,000 --> 00:41:02,680 Speaker 1: of folks begin to disapprove of him since March, since 745 00:41:02,719 --> 00:41:06,200 Speaker 1: the first of the January six Committees revelations and and 746 00:41:06,280 --> 00:41:09,520 Speaker 1: news began to come out. But you know, there is 747 00:41:09,560 --> 00:41:13,600 Speaker 1: still a solid chunk of the population um that approves 748 00:41:13,640 --> 00:41:17,000 Speaker 1: of him, that wants to see him run for president again, um, 749 00:41:17,040 --> 00:41:19,680 Speaker 1: and that still supports him, And at this point it 750 00:41:20,120 --> 00:41:22,800 Speaker 1: really remains to be seen how that might stack up 751 00:41:22,840 --> 00:41:27,919 Speaker 1: against other potential Republican contenders for president. In only about 752 00:41:27,920 --> 00:41:30,840 Speaker 1: thirty seconds left here, Emily, but even before the President's appearance, 753 00:41:30,920 --> 00:41:33,759 Speaker 1: former Vice President Mike Pence is coming to d C 754 00:41:33,960 --> 00:41:37,839 Speaker 1: as well tonight. Yeah, and Pencils actually here last week 755 00:41:37,880 --> 00:41:40,480 Speaker 1: talking with a bunch of House Republicans who all greeted 756 00:41:40,560 --> 00:41:43,600 Speaker 1: him very warmly, including those who have like very strongly 757 00:41:43,640 --> 00:41:46,319 Speaker 1: back Trump. But you're also going to see Pence given 758 00:41:46,360 --> 00:41:51,279 Speaker 1: an announcement at the Heritage again a conservative thing take. 759 00:41:51,480 --> 00:41:54,120 Speaker 1: His speech is going to be more focused on policy, 760 00:41:54,160 --> 00:41:56,400 Speaker 1: which is something we're hearing Pence talk a lot about. 761 00:41:56,719 --> 00:42:00,319 Speaker 1: He's also a potential contender for four. Really you really 762 00:42:00,360 --> 00:42:04,080 Speaker 1: interesting to see how he both kind of differgiates himself 763 00:42:04,080 --> 00:42:06,560 Speaker 1: from Trump while sticking to Trump as of course his 764 00:42:06,680 --> 00:42:10,160 Speaker 1: former vice president. All Right, Bloomberg Government reporter Emily Wilkins 765 00:42:10,239 --> 00:42:13,279 Speaker 1: gonna be very busy in Washington, d C. This week, 766 00:42:13,320 --> 00:42:15,120 Speaker 1: and you can read more about all these stories on 767 00:42:15,160 --> 00:42:18,120 Speaker 1: Bloomberg dot com or on the Bloomberg terminal and listen 768 00:42:18,160 --> 00:42:21,799 Speaker 1: to Bloomberg Radio from the nation's capital of Bloomberg one 769 00:42:22,200 --> 00:42:25,439 Speaker 1: and one oh five point seven FM HD two SMP. 770 00:42:25,560 --> 00:42:27,799 Speaker 1: Future is up twenty points right now. Down futures up 771 00:42:27,800 --> 00:42:30,880 Speaker 1: a hundred sixty nine. NAZAC futures are higher by sixty 772 00:42:30,920 --> 00:42:34,680 Speaker 1: two points ten. Your treasury is down thirteen thirty seconds now. 773 00:42:34,680 --> 00:42:37,200 Speaker 1: The yield two point seven nine percent. Yield on the 774 00:42:37,239 --> 00:42:40,920 Speaker 1: two year two point nine eight percent. Bloomberg Surveillance is 775 00:42:40,960 --> 00:42:43,799 Speaker 1: next with Tom Keene, Jonathan Farrell, and Lisa Bronwitz is 776 00:42:43,800 --> 00:42:46,840 Speaker 1: back this week for Karen Moscow. I'm Nathan Hagar, and 777 00:42:46,960 --> 00:42:48,360 Speaker 1: this is Bloomberg