Speaker 1: Live from the Bloomberg Interactive Berger Studios. This is Bloomberg
Speaker 1: day Break for Tuesday, September two. Coming up this hour,
Speaker 1: Wall Street prepares for the latest reading on inflation. Cooman
Speaker 1: Sacks begins its biggest round of job cuts since the pandemic.
Speaker 1: The Justice Department ramps up its investigation into the election,
Speaker 1: and Ukraine might be turning the corner in the war
Speaker 1: with Russia. We're learning more about the mother accused of
Speaker 1: drowning her children at Coney Island Beach. Plus Senator Graham
Speaker 1: plans to introduce national abortion restrictions On Michael Blar More Ahead,
Speaker 1: I'm John Stash towards wards the Mets walk because the
Speaker 1: Yankees visit the Red Sox Tonight Monday Night Football Seattle, Top, Denver.
Speaker 1: That's all trading ahead on Bloomberg day Break on Bloomberg eleven,
Speaker 1: Free on New York, Bloomberg on Washington, d C, Bloomberg
Speaker 1: one oh six one Boston, Bloomberg nine sixties, San Francisco,
Speaker 1: Syrius X M one nine Team, and around the world.
Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business App. Good morning, I'm Nathan Hagar, and I'm Karen Moscow,
Speaker 1: US DOT in Next futures on the rise this morning.
Speaker 1: We're coming up to six o one on Wall Street,
Speaker 1: and we check the markets every fifteen minutes throughhou the
Speaker 1: trading day on Bloomberg. Right now, S and B futures
Speaker 1: are up about seventeen points. Gall futures have one seven
Speaker 1: A NAUNSDAG futures of forty five ten year treasury of
Speaker 1: eleven thirty seconds. You have three point three one percent
Speaker 1: and they yield on the two year three point five
Speaker 1: two at NIME. Ex Scrude oil at eighty eight dollars
Speaker 1: eighty cents a barrel Nathan Karen For markets today, it
Speaker 1: is all about inflation, and we get the latest reading
Speaker 1: on US consumer prices at eight thirty am. Wall Street
Speaker 1: Time forecast call for inflation to ease, but Coral Institute
Speaker 1: Chief economist Megan Green says there is a risk prices
Speaker 1: go the other direction. Well, I think we'll see headline
Speaker 1: inflation coming down thanks to lower gas crisis, but in
Speaker 1: terms of core inflation we might see it take up
Speaker 1: very moderately. Actually think the risks are on the downside.
Speaker 1: There's a possibility it could fall, but generally I think
Speaker 1: it will take up very moderately, and that's good news
Speaker 1: that it's increasing at a slower rate. But I don't
Speaker 1: think that the Fed can breathe a sigh of relief
Speaker 1: just yet. Megan Green and Coral says an energy crunch
Speaker 1: could push prices higher in the coming months. Economists surveyed
Speaker 1: by Bloomberg expect inflation for August to come in at
Speaker 1: an annual rate of eight point one percent. Well, I
Speaker 1: had a better report, Nathan. The mood and equity markets
Speaker 1: is risk gone. Stalks in the Asia Pacific climbed overnight,
Speaker 1: and Bloomberg Juliette Sally joins us with the recap from Sydney, Australia.
Speaker 1: Good morning, Juliette, Good morning. Karen tech Stokes led the games,
Speaker 1: with Apple supplies rallying amid strong preorder data for the
Speaker 1: latest iPhones. South Korea has cast ME rose more than
Speaker 1: two and a half percent as investors played catch shop
Speaker 1: after Monday's holiday. If He'll show you one weekend. Despite
Speaker 1: yet another strong fixed from the PBOC four in a row,
Speaker 1: the bias was below two hips slow for the first
Speaker 1: time in a week. M Life strategist highlighting this suggests
Speaker 1: that PBOC could be easing off slowly in its battering
Speaker 1: of you on bearish bits in Sidney. Juliette Sally Bloomberg Daybreak.
Speaker 1: All right, juliet thank you back here in the US.
Speaker 1: A couple of corporate names we're watching this morning. Shares
Speaker 1: of Peloton are down about a half percent in early trading.
Speaker 1: That's afterwards. Chairman and co founder John Folly is stepping
Speaker 1: down from the company. His resignation takes effect Monday. And
Speaker 1: on the flip side, Nathan, we're seeing shares of Oracle gain.
Speaker 1: They are up almost two percent after earnings that were
Speaker 1: in line with estimate. Sales for Oracle jumped eighteen percent
Speaker 1: of the recent quarter thanks to strength and cloud computing.
Speaker 1: Else Around Wall Street, Karen job cuts are in focus.
Speaker 1: Goldman Sachs is going ahead with its biggest round of
Speaker 1: cutback since the start of the pandemic. Sources say the
Speaker 1: bank plans to eliminate several hundred roles starting this month.
Speaker 1: Bloomberg's Valerie Titel says the cuts will be based on performance.
Speaker 1: They usually have an annual calling cycle, but I think
Speaker 1: what's notable about this one is that they are resuming
Speaker 1: normal activity after the pandemic. This comes after some pretty
Speaker 1: steep declines and investment banking activities, notably I P O
Speaker 1: s and junk issuance, creating, you know, quite some conditions
Speaker 1: for some significant layoffs to begin post pandemic. Bloomberg's Valerie
Speaker 1: Titele says Goldman will use the cuts to weed out
Speaker 1: low performers. The move could signal a chill setting in
Speaker 1: across the finance industry as revenue slumps from record highs. Well,
Speaker 1: let's learn to boats. Turn to politics now, Dathan. We're
Speaker 1: an investigation into the election is heating up. The Justice
Speaker 1: Department is ramping up its probe and the plot to
Speaker 1: overturn the presidential election, issuing dozens of subpoenas targeting campaign
Speaker 1: operatives and allies of former President Trump and Bloomberg's Amy
Speaker 1: Morris has details from our newsroom in Washington about forty
Speaker 1: news subpoenas were issued, the focus appearing to be the
Speaker 1: alleged scheme to have fake or alternate electors come to
Speaker 1: Washington to delay the certification of Joe Biden as president.
Speaker 1: The New York Times reports the Justice Department also seized
Speaker 1: the phones from Trump's lawyer Boris Epstein and campaign strategist
Speaker 1: Mike Roman. The time says some of the new subpoenas
Speaker 1: focus on activities of the Save America Political Action Committee,
Speaker 1: which is the main political fundraising arm for Trump since
Speaker 1: he left office in Washington. I'm Amy Moore as Bloomberg Daybreak.
Speaker 1: Thanks Amy, Let's turn our attention to Ukraine now. The
Speaker 1: country's asking for more weapons to build on its recent
Speaker 1: successor retaking territory from Russia. President vladimir's Lensky says forces
Speaker 1: have recaptured more than twenty three hundred square miles this month.
Speaker 1: Former Defense Secretary Leon Panetta says this could mark a
Speaker 1: turning point in the war. I would say it's both
Speaker 1: pivotal and dangerous. It's pivotal because to have Ukraine conducting
Speaker 1: a strong offensive that's working is incredibly important to putting
Speaker 1: real pressure on both Putin and the Russians. It's dangerous
Speaker 1: because Putin, if he's boxed in, obviously will have to
Speaker 1: strike back. Former Defense Secretary Leon Panetta spoke with David
Speaker 1: Weston on Bloomberg's Balance of Power. Catch the program weekdays
Speaker 1: at noon Eastern on Bloomberg Radio and Television. Plus the
Speaker 1: Balance of Power podcast on Apple, Spotify and anywhere else
Speaker 1: you get your podcasts. And finally Nathan to the UK,
Speaker 1: where ceremony is remembering Queen Elizabeth continue this week. Mourners
Speaker 1: in Scotland are paying respect to the queen this morning,
Speaker 1: and here with more is Bloomberg's Leanne Garrans. Thousands of
Speaker 1: people have been queuing through the night to see the
Speaker 1: queen's coffin at St Charles Cathedral in Edinburgh. The Queen's
Speaker 1: coffin will rest in the cathedral until about five pm
Speaker 1: local time today before beginning the journey back to London.
Speaker 1: It will then be taken to Buckingham Palace and then
Speaker 1: to Westminster Hall, where the Queen will lie in state
Speaker 1: for four days. A National Minutes silence will be held
Speaker 1: at eight pm on Sunday, the night before the Queen's
Speaker 1: funeral in Westminster Abbey, and Bloomberg's Leanne Garran's reporting from
Speaker 1: London will bring you live coverage of the Queen's funeral
Speaker 1: coming up on Monday. Right here on Bloomberg daybreak and
Speaker 1: ahead of the market open, Karen futures are moving higher,
Speaker 1: SMP futures are up sixteen point, STAW futures up six
Speaker 1: NASTAC futures on the rise by forty six points. The
Speaker 1: tenure treasury is up eleven thirty seconds yield three point
Speaker 1: three one Nimex crudes highed by one percent or ninety
Speaker 1: cents at eighty eight dollars sixty seven cents a barrel.
Speaker 1: Straight ahead, your latest local headlines plus the check of sports.
Speaker 1: This is Bloomberg six oh seven on Wall Street where
Speaker 1: at seventy one degrees in Central Park. I got an
Speaker 1: accident in Westport. It's on the southbound Connecticut Turnpike. Eggs
Speaker 1: at seventeen. Details coming up in traffic. First Michael Barr
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Michael, thank you very much. Nathan, the
Speaker 1: mother of three children who were found dead at Coney
Speaker 1: Island Beach could be charged today. The thirty year old woman,
Speaker 1: who has not been identified, was questioned by the NYPD
Speaker 1: for about six hours before she was taken to a
Speaker 1: hospital for a psychological evaluation. Yesterday, police found the bodies
Speaker 1: of seven year old Zachary Murdy, four year old la Llana,
Speaker 1: and three month old Oliver Bonderev. NYPD Chief of Department,
Speaker 1: Keith Corey says that Kenneth Corey I should say says
Speaker 1: that the thirty year old mother was found two miles
Speaker 1: down the boardwalk from her home in would appeared to
Speaker 1: be a catatonic state. She was wet, she was barefoot, um,
Speaker 1: and she was not um communicative to the officers. The
Speaker 1: community was left in shock over the deaths of the children,
Speaker 1: even to somebody take them to somebody, police say. Family
Speaker 1: members claimed the mother confessed that she drowned her children,
Speaker 1: but she has not said anything directly to investigators. Republican
Speaker 1: Senator Lindsey Graham plans to introduce legislation to restrict abortion nationally.
Speaker 1: The South Carolina senator has scheduled an announcement at the
Speaker 1: capitol for later today. Graham's action raises the profile of
Speaker 1: abortion rights as an issue for the midterm elections. A
Speaker 1: Connecticut jury us lately to begin hearing evidence today in
Speaker 1: a trial to decide how much money conspiracy theorist Alex
Speaker 1: Jones should pay relatives of the victims of the Sandy
Speaker 1: Hook Elementary School shooting for spreading a live massacre that
Speaker 1: left twenty six people dead was a hoax. It is
Speaker 1: the second such trialpha Jones, who was ordered by a
Speaker 1: Texas jury last month to pay nearly fifty million dollars
Speaker 1: to the parents of one of the slain children. Negotiations
Speaker 1: between the unions representing railroad workers and management have stalled.
Speaker 1: This means some am track writers could experience delays and
Speaker 1: good cause the rebounding economy to lose momentum. The deadline
Speaker 1: for a deal is just after midnight Friday, and last
Speaker 1: night's Emmys on NBC. HBO took home the top award
Speaker 1: for the sixth time in eight years, thanks to succession
Speaker 1: for Top Drama and the White Lotus for Best Limited Series.
Speaker 1: Apple's Ted Last So repeated as Best Comedy, and Buying
Speaker 1: Don Yoke made history as the first South Korean director
Speaker 1: to win for Best Drama for Squid Game since Kid Game.
Speaker 1: Footing nomination at the Emmy's people keep telling me like
Speaker 1: I made the history, But I don't think I made
Speaker 1: history by myself, because it was you who opened up
Speaker 1: the doors for skid Game. Embody here tonight at the
Speaker 1: Dammy's Global News twenty four hours a day on Area
Speaker 1: on Bloomberg Quick Take power by more than seven hundred
Speaker 1: journalists analysts more than a hundred twenty countries. I'm Michael
Speaker 1: bar this is Bloomberg Naken. Thank you, Michael. Six ten
Speaker 1: on Wall Street. Time for the Bloomberg Sports Update with
Speaker 1: johns Tsh. All right, Nathan Mets back home from a
Speaker 1: road trip that saw the win two of three in Pittsburgh,
Speaker 1: two or three in Miami. Now facing another subpar team,
Speaker 1: the Cubs, Chicago got the Chris Bassett pair of early
Speaker 1: home runs. Bassett gone on the fourth endy having allowed
Speaker 1: five runs. The Cubs won five to two, but Atlanta
Speaker 1: lost in San Francisco three to two. That's the Braves
Speaker 1: third loss in a row, and the Mets remain a
Speaker 1: game and a half ahead. Yankees and Red sax tonight
Speaker 1: in Boston Garett Cole on the Mountain. The two teams
Speaker 1: behind the Yanks met Toronto on a bobus Yette Eighthenny
Speaker 1: in Homer top Tampa Bay three to two. So the
Speaker 1: Blue Jays now in the second place, five and a
Speaker 1: half games behind the Yanks, and the Rays trail by six.
Speaker 1: The first NFL Sunday saw three teams, Cleveland, Pittsburgh, and
Speaker 1: New Orleans all win games with last second field goals
Speaker 1: of over fifty yards. Last night in Seattle. Denver tried
Speaker 1: to win with a sixty four yard field goal, it
Speaker 1: missed Seahawks one seventeen sixteen. The Broncos had time to
Speaker 1: try and get a first down, moved closer, but they
Speaker 1: elected to try that long kick, so Russell Wilson loses
Speaker 1: in his return to Seattle his first game with Denver.
Speaker 1: The Jets Sunday bring their thirteen game month of September,
Speaker 1: losing straight to Cleveland. Jets offense struggled in the loss
Speaker 1: of Baltimore, but coach Rob Sala feels it will improve
Speaker 1: those little errors on the offense. Was was having the
Speaker 1: first half stop happening. It's going to be explosive, and
Speaker 1: then it carries out in the second half. You're you're
Speaker 1: just gonna feel it. Uh and and in a way
Speaker 1: it does just click where you're just stacking up there
Speaker 1: after day after day and um and it's really really
Speaker 1: cool when it does happen because it just absolutely pops
Speaker 1: off the table. Jet Sunday takes of the Browns team
Speaker 1: that just want its opener for the first time. It's
Speaker 1: in two thousand four. Giants got their first in two
Speaker 1: thousand sixteen. This Sunday Day host Carolina, John Stash Howard,
Speaker 1: Bloomberg Sports, Nathan all Right, John, thanks, Futures moving higher
Speaker 1: ahead of inflation Ada that we'll talk about next with
Speaker 1: Bloomberg's Michael McKee. This is Bloomberg Bloomberg day Break, brought
Speaker 1: to you by the Jewish Communal Fund j CFS. Donor
Speaker 1: advised fund is the smart choice to manage your philanthropy,
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Speaker 1: j c F n Y dot org. Markets headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot com,
Speaker 1: the Bloomberg Business aland at Bloomberg Quicktape. He's a Bloomberg
Speaker 1: Business lash and I'm Karen Moscow and we did at
Speaker 1: this headline crossing the Bloomberg Buyer, also known as Bear
Speaker 1: in the US, quietly starting to search for a successor
Speaker 1: to chief executive officer of Werner Baumann, raising the prospect
Speaker 1: of an early departure this according to people familiar with
Speaker 1: the matter. Futures, meanwhile, are on the rise this morning,
Speaker 1: with SMP futures of about nineteen points down futures of
Speaker 1: a hundred forty three, and NASDACK futures of fifty six
Speaker 1: ten year Treasury up ten thirty seconds year three point
Speaker 1: three one percent the yield, then the two year three
Speaker 1: point five two percent. NIMEX screwed oil is up one
Speaker 1: point two percent of a dollar two at eighty eight
Speaker 1: dollars eighty cents of barrel comex schoold is down a
Speaker 1: tenth of a percent, down two dollars forty cents at
Speaker 1: seventy twenty announced the Euro one one six nine against
Speaker 1: the dollar, British pound one point one seven oh nine
Speaker 1: and the end one two point one seven And look
Speaker 1: at it bit coin this morning, little changed at twenty
Speaker 1: two thousand, three ninety dollars. And as a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with Moore on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. The
Speaker 1: coffin of Queen Elizabeth the Second both had from Edinburgh,
Speaker 1: Scotland to London. The Queen will Lion state in Westminster
Speaker 1: Hall for four days in London. More than thirty people
Speaker 1: associated with former President Trump and efforts to influence the
Speaker 1: election results have received federal grand jury subpoenas. Meanwhile, Trump
Speaker 1: and the Department of Justice agreed that Judge Raymond Deery
Speaker 1: would be a suitable choice for an outside special master
Speaker 1: to review the documents taken from Trump's Marrow Law go
Speaker 1: Home as part of an investigation into his handling of
Speaker 1: government records. In Monday Night football, the Seahawks upset the
Speaker 1: Broncos seventeen sixteen. In baseball, the Mets lost to the
Speaker 1: Cubs five to The Giants. Won Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than hundred journalists and analysts more than a
Speaker 1: hundred twenty countries. Michael bar and this is Bloomberg. Nathan Okay, Michael,
Speaker 1: thanks at his six nineteen on Wall Street Live from
Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and
Speaker 1: markets are looking for a clearer picture on where things
Speaker 1: stand in the federal reserves fight against inflation. When we
Speaker 1: get the August consumer price index in just about two
Speaker 1: hours and ten minutes. Here ahead of that with us
Speaker 1: is Michael McKee, Bloomberg Economics and Policy correspondent. So Mike
Speaker 1: walk us through what economists we've surveyed are expecting we
Speaker 1: we are going to hear when those consumer prices come
Speaker 1: down at eight thirty Wall Street Time. Well, the number
Speaker 1: that a lot of Americans will focus on its headline inflation,
Speaker 1: which is expected to go down a tenth of a percent,
Speaker 1: and that would drag me year over year rate down
Speaker 1: from eight and a half percent to eight point one percent.
Speaker 1: Later this morning, President Biden has a speech some remarks
Speaker 1: on the economy and on the Inflation Reduction Act that
Speaker 1: they passed, and so no doubt he will be citing
Speaker 1: that the core rate, however, is expected to be up
Speaker 1: about three tents, which would be a reasonably small increase
Speaker 1: given what we've seen before, But because of base effects,
Speaker 1: the year over year rate goes up to five point
Speaker 1: one percent from four point nine. So on that basis,
Speaker 1: it won't be quite as good news. The question that
Speaker 1: everybody who is in the economics profession and over the
Speaker 1: fete is going to be asking is not so much
Speaker 1: what the the numbers are, what the underlying inflation dynamics are,
Speaker 1: what's rising in price, what's falling in price? What does
Speaker 1: that tell us about what's going to happen in the future. Well,
Speaker 1: what our economists expecting when it comes to those underlying dynamics, Mike,
Speaker 1: what are some of the biggest drivers potentially we could
Speaker 1: see for core inflation. Well, the good news side is
Speaker 1: we are expecting used car prices to fall. They've dropped
Speaker 1: significantly on a wholesale level, so the hope is that
Speaker 1: translates into the retail level as well. Apparel. There's been
Speaker 1: a story that retailers stocked up too much on clothing
Speaker 1: because so much of it was jammed up in the
Speaker 1: pipeline and then it came through, so they have to
Speaker 1: discount to get rid of some of their inventories. So
Speaker 1: we might see some declines there. Of course, on the
Speaker 1: headline basis, gasoline prices, the big driver of inflation, has
Speaker 1: followed a lot. On the bad news side, housing prices
Speaker 1: are still going to be rising in the CPI because
Speaker 1: it takes a long time for housing prices in that
Speaker 1: index to change. You don't sell a house or buy
Speaker 1: a house every day the way you buy gasoline, and
Speaker 1: so the rise in home prices we've seen the last
Speaker 1: couple of years is still going to be with us.
Speaker 1: And housing prices are going to be the biggest measure
Speaker 1: of the core because they are thirty percent of the CPI,
Speaker 1: and so that's a significant upward pressure. Yeah, given how
Speaker 1: much weight of housing prices do have on core inflation,
Speaker 1: does that sort of lower the possibility that we could
Speaker 1: see a downside surprise on core inflation. That's one reason
Speaker 1: a lot of people aren't expecting a downside surprise on
Speaker 1: the core. Although there are a number of categories that
Speaker 1: fall under that dreaded t word transitory, you're not supposed
Speaker 1: to we're not supposed to say that we're supposed to
Speaker 1: retire it according to example, but things that could fall
Speaker 1: and aren't tracked closely enough to get a sense of
Speaker 1: where they are on a month to month basis, things
Speaker 1: like airfares and hotels. We know that the prices have
Speaker 1: gone down, but enough to make a difference. Uh, that's
Speaker 1: a key question. One wild card is UH the seasonal
Speaker 1: impact of college is reopening, because there is a sense
Speaker 1: that tuition prices went up, and if that's the case,
Speaker 1: then that could put upward pressure on the core as well.
Speaker 1: One of the chances that we could see UH consumer
Speaker 1: price index that lowers the risk of a another jumbo
Speaker 1: sized rate hike from the FED. I only asked that
Speaker 1: might because we've heard from so many FED speakers ahead
Speaker 1: of this reading that really seemed to be leaning into
Speaker 1: this idea that they're open to another seventy five basis
Speaker 1: point move. We got about a minute left here. They've
Speaker 1: been talking about that for quite some time. JAYL went
Speaker 1: to Jackson Hole and and suggested that, and then everybody
Speaker 1: who spoke after him up to the quiet period beginning
Speaker 1: last Saturday seemed to endorse the idea of a strong
Speaker 1: rate move. The feeling is that if they're going to
Speaker 1: get to a restrict level just above the neutral rate,
Speaker 1: maybe four percent or a little below, they might as
Speaker 1: well do it quickly, get it over with, get there,
Speaker 1: and then wait and see what happens with the data.
Speaker 1: So that seems to be the plan. And I don't
Speaker 1: think anything that happens in the CPI report that's out
Speaker 1: today is going to change that. They'll watch for data
Speaker 1: down the road. Thanks for this, Mike, great having on
Speaker 1: with us again this morning ahead of August cp I
Speaker 1: do out eight thirty am Wall Street time. Of course,
Speaker 1: we will have full coverage for you here on Bloomberg Radio.
Speaker 1: Michael McKee, Economics and Policy correspondent for Bloomberg Radio and Television.
Speaker 1: Just reiterating the red headline across the Bloomberg terminal. A
Speaker 1: few minutes ago, Buyer a k A. Bayer, the drug maker,
Speaker 1: quietly starting a search for a successor to cel Werner Bauman,
Speaker 1: according to people familiar with the matter, raising the prospect
Speaker 1: that Bauman could leave before his contract expires in April.
Speaker 1: Buyer shares are higher by nearly two percent. In Frankfurt,
Speaker 1: SMP futures are higher by eighteen points. On Wall Street,
Speaker 1: You're listening to Bloomberg day Break Bloomberg eleven three oh
Speaker 1: weather any showers and storms in by midday today. We'll
Speaker 1: get up to the low eighties this afternoon, sunshine, low
Speaker 1: eighties tomorrow, sunny, mid seventies on Thursday. Right now, seventy
Speaker 1: one in Central Park, broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York. Bloomberg E Living Free to Washington,
Speaker 1: d C, Bloomberg one to Boston, Bloomberg on A six
Speaker 1: one to San Francisco, Bloomberg N sixty to the country,
Speaker 1: Sirius XM Cho one nine teen and around the blooe
Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. Damn. It's six thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. We are just
Speaker 1: about three hours away from the open of US trading.
Speaker 1: Time for the five things that you need to notice
Speaker 1: start your day. Brought to you by Interactive Brokers. Interactive
Speaker 1: Brokers Simple IBKR Global Trader app deposit in your local
Speaker 1: currency and trade stocks in the US, Europe and Asia.
Speaker 1: Start your free trial at ibk r dot com Slash
Speaker 1: Global Trader. First, US futures are higher ahead of the
Speaker 1: latest data on inflation, we get a reading on US
Speaker 1: consumer prices for August at eight thirty am. Wall Street
Speaker 1: Time forecast call for inflation to ease to an annual
Speaker 1: rate of eight point one percent. Here with Moore as
Speaker 1: Bloomberg Economics corresponded Michael McKee. Falling energy prices likely held
Speaker 1: down headline inflation in August, but higher costs for housing
Speaker 1: and education our forecast to have pushed core inflation higher.
Speaker 1: Beneficials have all but said they're locked in on a
Speaker 1: three quarters percentage point increase for interest rates next week.
Speaker 1: Higher core rate won't affect their thinking, but it will
Speaker 1: serve as a reminder the fight against inflation is far
Speaker 1: from over. Michael McKee Bloomberg Daybreak, alright, Mike, thanks. Global
Speaker 1: stocks are slightly higher ahead of that CPI report. Stock
Speaker 1: in Europe and Asia are posting moderate gains. SMP futures
Speaker 1: are up about a half percent. Well elsewhere on Wall Street,
Speaker 1: Nathan John cuts are in focus this morning. Goldman's actually
Speaker 1: is going ahead with its biggest round of cutback since
Speaker 1: it started the pandemic. Sources tell us the bank plans
Speaker 1: to eliminate several hundred roles starting this month. Bloombergh Sally
Speaker 1: Bagwell says the move cut signal a chill setting in
Speaker 1: across the industry. The other investment banks they faced similar challenges.
Speaker 1: They're battling inflation. They have also seen a slump in
Speaker 1: dealmaking in investment banking, and we understand that a lot
Speaker 1: of the cuts with Goldman Sex were in that division,
Speaker 1: and so we can expect that this sets the tone
Speaker 1: a little bit for broader Wall Street and that we
Speaker 1: might start see other banks following suit. Bloomberg Sally Bagwell
Speaker 1: says the classic Goldman will be used to weed out
Speaker 1: low performers. Let's turn our attention to Ukraine now care
Speaker 1: in the country's asking for more weapons to build on
Speaker 1: its recent success retaking territory from Russia. President Vladimir's Lensky
Speaker 1: says for US is recaptured more than twenty hundred square
Speaker 1: miles this month. Agregius, as a senior fellow at the
Speaker 1: Atlantic Council, I do believe the spells at turning point,
Speaker 1: and at this point we could suggest that either Russia
Speaker 1: is facing defeat or it's facing a stalemate. Agregius with
Speaker 1: the Atlantic Council says the area's Ukraine securing could give
Speaker 1: them a strategic advantage over Russia. And finally, in politics,
Speaker 1: this morning, Nathan, the Justice Department is ramping up its
Speaker 1: probe into the plot to overturn the presidential election. The
Speaker 1: d o J is issuing about forty new subpoenas to
Speaker 1: campaign operatives and allies of former President Donald Trump. That's
Speaker 1: the five things that you need to notice start your day.
Speaker 1: Brought to you by Interactive Brokers. Thanks hearing sixty three
Speaker 1: on Wall Street seventy degrees in Central Park we got
Speaker 1: an overturned car and Crantford northbound Garden State Parkway by
Speaker 1: exhib One thirty seven. We'll tell you more in traffic. First,
Speaker 1: Michael Barr with what else is going on in New
Speaker 1: York and around the world. Michael Nathan, thank you very much.
Speaker 1: The thirty year old mother who was accused of drowning
Speaker 1: or three young children at Coney Island Beach remains hospitalized
Speaker 1: under psychiatric evaluation this morning. She could face charges today. Yesterday,
Speaker 1: the bodies of seven year old Zachary Murdy, four year
Speaker 1: old La Lana, and three month old Oliver Bonderev were
Speaker 1: found on the shore of the beach. The NYPD says
Speaker 1: the woman, who has not yet been identified, was found
Speaker 1: about ninety minutes soaking wet, nearly catatonic, and barefoot, about
Speaker 1: two miles down the boardwalk from the section of Coney
Speaker 1: Island where she lived. The community is reacting to the news.
Speaker 1: Zachary's school football coach, Alan McFarland says it's hard to
Speaker 1: believe Sally kid, a really good kid, always smiling on
Speaker 1: the football field. Police a family members claim she confessed
Speaker 1: to the killings but has not said anything to authorities.
Speaker 1: Republican Senator Lindsey Graham of South Carolina will once again
Speaker 1: try to introduce legislation to restrict abortion nationally. Graham is
Speaker 1: scheduled an announcement for later today at the Capitol. The
Speaker 1: politically explosive debate is emerging as one of the central
Speaker 1: issues in the mid term allow campaign. The White House
Speaker 1: is working to avert a rail workers strike. President Bladen
Speaker 1: has reached out to both rail road unions and the
Speaker 1: rail road companies. If a deal isn't made by Friday,
Speaker 1: it could lead to major rail disruptions. Amtrak already announced
Speaker 1: it will be suspending several anounts. Jason todek Is This
Speaker 1: comedy ted Lasso, aired on Apple, claimed the Top Comedy
Speaker 1: prize at last night's Emmy Awards. The show is about
Speaker 1: good and evil, and so that the show is about
Speaker 1: like the truth and lies. This show is about all
Speaker 1: that stuff, but it's mostly about our response to those things,
Speaker 1: and your response to our show has been overwhelming. HBO
Speaker 1: Succession took home the Top Drama honor. Another HBO show,
Speaker 1: White Lotus, was named the Best Limited Series. Lee Jung
Speaker 1: j of Squid Game one Best Drama Actor. The Emmy's
Speaker 1: aired on NBC. The jazz World has lost a great.
Speaker 1: Ramsey Lewis, whose albums Sun God has reached number one
Speaker 1: on the Billboard Top Soul Church, has died. Lewis has
Speaker 1: Other hits include the n Crowd, Hang On Sloopy, and
Speaker 1: Wade in the Water. His son says Lewis, who earned
Speaker 1: three Grammy Awards and seven Gold Records, died in the
Speaker 1: sleep in the Chicago home. In a seven Global News
Speaker 1: twenty four hours a day on airand on Bloomberg Quick Take,
Speaker 1: powered by more than seven hundred journalists and analysts more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg, Nathan,
Speaker 1: Thank you Michael, coming up to six thirty six on
Speaker 1: Wall Street. John Stashour has the Bloomberg Sports Thanks Nathan.
Speaker 1: NFL Week one ended with Denver at Seattle, also Russell
Speaker 1: Wilson's first game with the Broncos against his old team.
Speaker 1: He had asked to get traded, That's why he got booed.
Speaker 1: W Wilson proved for three hundred forty yards, but twice
Speaker 1: in the second half, the Broncos fumbled at the Seattle
Speaker 1: one yard line. Then they missed a long field goal
Speaker 1: in Seattle one seventeen sixty in the new Seahawks QB
Speaker 1: is Genos Smith, the former Jet and Giant. He played well,
Speaker 1: especially in the first half. Jets did not play well
Speaker 1: and the loss of the Ravens their thirteenth loss in
Speaker 1: the row and step member so plenty of critics, but
Speaker 1: Jets coach Rob Sala thinks he will have the last laugh.
Speaker 1: I know what's gonna happen, and I'm and I'm taking
Speaker 1: where we're all taking receipts on all the people who
Speaker 1: continually mock and say that we ain't gonna do anything.
Speaker 1: I'm taking receipts and I'm gonna be more than happy
Speaker 1: to share him with all of y'all once all a
Speaker 1: sudden Jet Sunday visit Cleveland. The Browns just one at
Speaker 1: Carolina and the Panthers come in to play the one
Speaker 1: and no Giant. Sunday, Week three of the Giants played Dallas.
Speaker 1: That's the big NFL injury at a week one. Dak
Speaker 1: Prescott already had surgery on an injured hand, expected to
Speaker 1: keep the Cowboys pub out six to eight weeks. At
Speaker 1: City Field, comes Meat the Mets five to two. Not
Speaker 1: a good outing for Chris Bassett gave up all five
Speaker 1: gone in the fourth inning. But Atlanta has suddenly lost
Speaker 1: three in a row. In the Mets day game and
Speaker 1: a half ahead, Yankees and Red Sox tonight in Boston.
Speaker 1: It's just the two game series. They'll play four times
Speaker 1: next weekend in New York. Mike drout Homeward for the
Speaker 1: Angels seventh game in a row. He can tie the
Speaker 1: Major League record. Tonight, the Dodgers were told that if
Speaker 1: they won Sunday, they flinched the playoff. Birthday won, they celebrated,
Speaker 1: and then MLB informed them they made a mistake, so
Speaker 1: they celebrated again. And after a win last night in
Speaker 1: l A can clints the division. Tonight, John Stash were
Speaker 1: Bloomberg Sports Nathan Okay, John, thank you, six thirty seven
Speaker 1: on Wall Street Time to take a look at some
Speaker 1: of the stock names moving in the pre market. Bloomberg
Speaker 1: Radio and TV Markets correspondent Crety Gupta is with us
Speaker 1: this morning watching a name that's moving with a leadership
Speaker 1: shake up on the way. Yeah, and one that I
Speaker 1: think a lot of people have some interest in. Peloton
Speaker 1: p t o N is your takers down about five
Speaker 1: tenths of one percent this morning. Some news overnight here
Speaker 1: their executive chairman and co founder John Foley is stepping
Speaker 1: down from the fitness company. It's part of this massive
Speaker 1: leadership shake up at a time when Peloton is really
Speaker 1: trying to kind of stabilize a little bit. I remember,
Speaker 1: we've had a little bit of regulatory issues when it
Speaker 1: comes to uh, some of their safety. Oh it's we've
Speaker 1: had um. Peloton has also been seen declining users um
Speaker 1: as well as users for their app, but also declining
Speaker 1: sales when it comes to just buying exercise equipment. A
Speaker 1: lot of the has to do with kind of the
Speaker 1: reopening post COVID, so some of the success they saw
Speaker 1: has not continued into two. That being said, City Analysts
Speaker 1: actually put out their hot take on this instead of
Speaker 1: the departure of the company's founders, including John Foley, completely
Speaker 1: organizational changes at Peloton and should improve its free cash
Speaker 1: full picture. So their take here, Nathan, simply that they're
Speaker 1: kind of getting closer to where they want to be.
Speaker 1: Maybe an interesting contrarian perspective. They're given where the stock
Speaker 1: is going. But that's not the only one that's moving
Speaker 1: on restructuring, is it. No, it's not. And you know
Speaker 1: this is crucial because this is also a subscriber story
Speaker 1: similar to Peloton Rent the Runway. I imagine you're not
Speaker 1: a user of Rent the Runway, Nathan, I gotta check
Speaker 1: it out. You really should are there are are there
Speaker 1: offerings for people of my persuasion. You know, I think
Speaker 1: there's a ballgown that I saw the other day that
Speaker 1: you rent the runway. R E n T is your ticker.
Speaker 1: Doubt about in the pre market, this one taking a
Speaker 1: really big hit here, reporting a rob and subscribers in
Speaker 1: their second quarter, and as Nathan was saying, also announcing
Speaker 1: a restructuring of the company as well. Now, the earnings
Speaker 1: itself were fairly solid, Analysts did worry a little bit
Speaker 1: about some of the volatility when it comes to subscriber trends,
Speaker 1: some of them saying that there, well, there's a little
Speaker 1: bit of rebound in August and September some time. I
Speaker 1: was actually told perhaps getting prepared for wedding season, getting
Speaker 1: prepared for galaxeas and in the fall as well. So
Speaker 1: there is some of that. But at the end of
Speaker 1: the day, it's that restructuring. Is that drop in overall
Speaker 1: subscribers that's worrying investors this morning. Maybe they can put
Speaker 1: some tuxedos on there, maybe, Uh, And we've got some
Speaker 1: interesting earnings this morning as well. Yeah, we'll wrap it
Speaker 1: up here with Oracle o r c LS. Your taker
Speaker 1: shares actually up one point seven percent. Some top line growth?
Speaker 1: Is it pretty strong here? Animal is very positive on
Speaker 1: that company. However, the concern here is a drop an
Speaker 1: operating margin as well as some issues within the integration
Speaker 1: of the health record providers Sarner. Remember Oracle recently bought Cerner.
Speaker 1: Uh so that's where they're seeing some of those costs.
Speaker 1: All right, Bloombergradio on TV Markets correspondent Creety Gooped addressed
Speaker 1: to the nines as always, thanks for joining us. Looking
Speaker 1: ahead to the market open futures moving higher as we
Speaker 1: await August. C p I, SMP futures up twenty two
Speaker 1: points now, futures up seventy four NASTAC futures are higher
Speaker 1: by sixty six points. You're listening to Bloomberg Daywright Bloomberg
Speaker 1: eleven three O. Weather any showers and storms and early
Speaker 1: today we'll get up to the low eighties, sunshine, low
Speaker 1: eighties tomorrow, sunny and cooler Thursday with a high near
Speaker 1: seventy five right now seventy degrees in Central Park. Markets
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com. The Bloomberg Business and at Bloomberg Quick
Speaker 1: Tape is a Bloomberg Business Flash and I'm fared Moscow
Speaker 1: future is on the rise. This morning, we go to
Speaker 1: the First Word Breaking news desk for today's morning call,
Speaker 1: and here's talk to you on a dryer Tatiana. Good morning.
Speaker 1: The features are higher this morning, with all major averages
Speaker 1: pointing to gains of about half a percent, and treasuries
Speaker 1: are also rallying. The ten year yield down four basis
Speaker 1: points to three spot a thirty two percent. Looking across
Speaker 1: a set, oil is up one percent and the dollar
Speaker 1: is weaker for a third day. On the economic front today,
Speaker 1: we have CPI data at eight thirty In early trading
Speaker 1: this morning, Ubs up one percent after planning to raise
Speaker 1: this dividend this year and likely exceed a buy back target,
Speaker 1: and fashion rental company Rent the Runway plunge after reporting
Speaker 1: an unexpected drop in subscribers. Regarding earnings, Oracle is up
Speaker 1: to after its numbers, and in other news, analysts have
Speaker 1: slashed their oil forecast for the rest of the year
Speaker 1: mid recession concerns. Morgan Sally Ubs both secrewed fifteen dollars
Speaker 1: lower in the near term, and wrapping things up here,
Speaker 1: Adobe was cut to market perform at BMO. Lie from
Speaker 1: the first and Breaking news desk. I'm Tatiana Darry all right, Cardiana,
Speaker 1: thank you and to hear life breaking news over your
Speaker 1: Bloomberg type squawk on your terminal squ a w K
Speaker 1: and that's a Bloomberg business flash. Now here's Michael Barr
Speaker 1: with more on what's going on around the world. Michael Karen,
Speaker 1: thank you very much. A final farewell from Scotland to
Speaker 1: their longest serving monarch. Stream of visitors believed to be
Speaker 1: a mile long lining up to pay their last respects
Speaker 1: as Queen Elizabeth the Second lies and rest in Edinburgh
Speaker 1: for twenty four hours. The Queen's coffin will later be
Speaker 1: taken to London to Lyons State for four days. Ukrainian
Speaker 1: troops continue to pile under lunding pressure on retreating Russian forces.
Speaker 1: They are seeking to hold on to their sudden momentum
Speaker 1: that has produced major territorial gains. Monday Night football, the
Speaker 1: Seahawks upset the Broncos seventeen sixteen. In baseball, the Mats
Speaker 1: lost to the Cubs five to the Giants. One Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg caerraon all right, Michael Bart, thank you.
Speaker 1: At A sixty nine on Wall Street. We turned to
Speaker 1: news and science and technology now with the Bloomberg n
Speaker 1: j I T STEM Report, brought to you by New
Speaker 1: Jersey Institute of Technology, ranked a top one hundred national
Speaker 1: university by US News and World Report and the number
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Speaker 1: you make at n j I T Learn more at
Speaker 1: n j I T dot E d U and here's
Speaker 1: just making news and science, technology, engineering, and math. Today
Speaker 1: is a big day for the ongoing legal battle between
Speaker 1: Twitter and Elon Musk. Twitter Twitter whistle blower Peter Zako
Speaker 1: is expected to appear before the Senate Judiciary Committee and
Speaker 1: tell them that the company misled its board, investors and
Speaker 1: users about its security. A judge last week ruled that
Speaker 1: musk legal team can use Zenko's claim in his defense
Speaker 1: to get out of his purchase of Twitter. The f
Speaker 1: a A will look into what caused blue origin to
Speaker 1: a boarder rocket launch yesterday, shortly after takeoff. The false
Speaker 1: start is the first major failure for the rocket company,
Speaker 1: owned by Jeff as O since transitioning to routine commercial flights.
Speaker 1: No passengers were on board, and Nintendo shares made their
Speaker 1: biggest jump since December after the video game console maker
Speaker 1: released a new family friendly game, Splatoon three, for their
Speaker 1: popular Switch platform. Nintendo was hoping to continue the positive
Speaker 1: momentum through the end of the year, betting on new
Speaker 1: additions to the Pokemon franchise doing well in the holiday season.
Speaker 1: That's a Bloomberg and j I t Stem report. Nathan,
Speaker 1: I still miss Mario. Thank you, Karen. We're live from them.
Speaker 1: It was right. We're live from the Bloomberg Interactive Brokers studios.
Speaker 1: We're coming up to six fifty one on Wall Street
Speaker 1: Time now to check what's going on in d C.
Speaker 1: Some of the top stories in our nation's capital include
Speaker 1: dozens of former Trump officials facing Justice Department subpoenas the
Speaker 1: Senate to investigate claims the former president used d j
Speaker 1: to investigate critics, and President Biden making a late pivot
Speaker 1: to the economy. In remarks set for late to this afternoon,
Speaker 1: Let's bring back Joe Matthew Our Washington Core spotted host
Speaker 1: of sound on here on Bloomberg Radio to kind of
Speaker 1: sort out the latest developments in one, maybe a couple
Speaker 1: of the multiple investigations surrounding former President Donald Trump. Joe,
Speaker 1: good morning. What do we know about these subpoenas well?
Speaker 1: Dozens of them have gone out over the past couple
Speaker 1: of days here, and it really gives us a sense
Speaker 1: that the d o J is going deep on this.
Speaker 1: When the Justice Department UH subpoena specifically campaign operatives, those
Speaker 1: who were part of the effort they say, uh, to
Speaker 1: overturn the presidential election. That that's what they're looking into here,
Speaker 1: Nathan as opposed to the investigation into documents at marl Lago.
Speaker 1: So we've got now tandem investigations coming out of the
Speaker 1: d o J. And this is a pretty broad view
Speaker 1: here based on what we're seeing the number of subpoenas
Speaker 1: that went out UH to individuals, including the former New
Speaker 1: York City Police Commissioner Bernie Carrick. Uh. It's it's really
Speaker 1: pretty stunning here. The subpoenas specifically asked for information about
Speaker 1: fake electors. The idea of creating these slates of fake
Speaker 1: electors to resist the certification of Joe Biden as president
Speaker 1: is what they're looking into, according to the New York Times.
Speaker 1: And my goodness, it's another layer in this ongoing legal
Speaker 1: dispute here between Donald Trump and the government that never
Speaker 1: seems to end. Now you mentioned the former New York
Speaker 1: City Police Commissioner Bernie Carrick, one of the people being
Speaker 1: uh issued with subpoena's here who else is being looked at?
Speaker 1: And what does this potentially say about where this investigation
Speaker 1: is going? You know, well, along with the subpoenas and
Speaker 1: this was, my goodness, half of the Trump campaign uh
Speaker 1: has been getting a knock on the door here. It
Speaker 1: seems like from the d O J they sees the
Speaker 1: phones last week from a lawyer to Donald Trump and
Speaker 1: a former campaign strategist who actually directed election day operations
Speaker 1: for And at that point, if you uh follow the
Speaker 1: bouncing ball here, they were well underway year with their
Speaker 1: efforts even before the election to try to uh follow
Speaker 1: up on this concept of fake electors. So to consider
Speaker 1: dozens of subpoenas telephones being seized. Uh, this is something
Speaker 1: that is clearly this morning larger than anyone realized yesterday.
Speaker 1: Are we getting any reaction Joe too, are from some
Speaker 1: of the people that have been handed these subpoenas. Uh, well,
Speaker 1: you know, yeah, there have been a couple of folks
Speaker 1: on Twitter, but there's there's been no uh to my
Speaker 1: knowledge at least that I'm not on truth social right now. Uh,
Speaker 1: no bold reply from Donald Trump himself, although he's been
Speaker 1: of course talking for months and years about the d
Speaker 1: o j's weaponizing of uh, the or the the Biden
Speaker 1: administrations weaponizing of the d J in this case. Interesting,
Speaker 1: you mentioned weaponization of the d o J because now
Speaker 1: we're hearing that the Senate is going to be looking
Speaker 1: into claims that the former president himself did just that,
Speaker 1: based on new revelations from a book coming out today. John, Yeah. Yeah,
Speaker 1: to think that we've got another book and that it's
Speaker 1: actually gotten the attention of Dick Durbin, the Senator from Illinois,
Speaker 1: who has sent a letter to Attorney General Merrick Garland
Speaker 1: about this, asking for information about these allegations that Donald
Speaker 1: Trump's Justice Department in fact demanded that critics of the
Speaker 1: president be prosecuted. And it brings us to the case
Speaker 1: of Gregory Craig, who was prosecuted for political reasons. According
Speaker 1: to this report, Uh, they in fact he was accused
Speaker 1: of lying about work on behalf of the Ukrainian government,
Speaker 1: but in this in fact was acquitted. So it's yet
Speaker 1: another layer here. Whether this actually results in an investigation
Speaker 1: by another Senate committee here along with the Jene six
Speaker 1: Committee has yet to be seen. Sometimes in Washington we
Speaker 1: talk about hearings and investigations that never see the light
Speaker 1: of day. Yeah, and hearings and investigations, as we say,
Speaker 1: kind of run tandem with each other. We'll leave that
Speaker 1: for now. Let's turn to what's happening at the White
Speaker 1: House today. Pretty interesting that President Biden is going to
Speaker 1: be talking about the economy, an issue that maybe just
Speaker 1: a couple of weeks ago might have looked like an
Speaker 1: Achilles seal for him. Well, and you could say that
Speaker 1: it still is. I mean, it depends on the CPI
Speaker 1: print this morning, which makes this kind of tricky timing.
Speaker 1: But they are planning to do essentially a ceremonial signing
Speaker 1: and it comes with a couple of thousand people actually
Speaker 1: on the South law later for what they called the
Speaker 1: Inflation Reduction Acts. Republicans will tell you that it actually
Speaker 1: is going to worsen inflation. But this is the this
Speaker 1: is the bill that the President got done in a
Speaker 1: sort of last minute deal that was considered a very
Speaker 1: big win and includes climate spending. Uh and and of
Speaker 1: course lower drug prices that the President says will lower inflation.
Speaker 1: But look, gas prices have been down for something like
Speaker 1: ninety days in a row, and that has sent the
Speaker 1: President's approval ratings higher. They say that they the strong
Speaker 1: job market, lower gas prices are adding up to an
Speaker 1: economy that is rebounding stronger than almost any in history. Now,
Speaker 1: when you look at the other side of the coin
Speaker 1: here you listen to republic looens, you think that the
Speaker 1: economy is already in a recession, which may be heading
Speaker 1: into one, and that inflation is ruining the lives of families. Uh,
Speaker 1: that's not the story that you will hear today from
Speaker 1: the White House. Obviously, they seem to think that they've
Speaker 1: got some momentum here they want to seize on that
Speaker 1: as they go into November. In our last minute here, Joe,
Speaker 1: we've heard from Republicans saying the Inflation Reduction Act maybe
Speaker 1: a misnomer. How could the president be looking to sort
Speaker 1: of turn the tables on that later today, Well you'll
Speaker 1: hear him talk about, you know, the the rebound, the
Speaker 1: strength and the job market as he likes to point
Speaker 1: out here, uh lower energy prices and billions of dollars
Speaker 1: invested in infrastructure. And now hell as he'll point to
Speaker 1: this plan deficit reduction, which they say will lower inflation.
Speaker 1: So look, this may not be uh kitchen table talk.
Speaker 1: It's actually pretty high level economics that they're trying to
Speaker 1: transmit to voters between now and November. But we'll see
Speaker 1: how he does today. It's gonna it's gonna have the
Speaker 1: feel of a celebration on the South lawn. Whether or
Speaker 1: not people get an economic lesson from it as another matter,
Speaker 1: And I will certainly be watching for bringing up dates
Speaker 1: throughout the day here on Bloomberg Radio, and much more
Speaker 1: on Sound On with Joe Matthew coming up today five pm.
Speaker 1: Wall Street Time, right here on Bloomberg Radio. Looking ahead
Speaker 1: to the market open, ahead of that inflation data coming
Speaker 1: out in just about an hour and a half. We're
Speaker 1: seeing futures add to their gains right now. SMP futures
Speaker 1: are up twenty seven point, Staff futures up two hundred three,
Speaker 1: and NASTAC futures are higher by eighty points. The tenure
Speaker 1: Treasury is up eleven thirty seconds, the YELD three point
Speaker 1: three one percent YELD on the two year three point
Speaker 1: five to Niamex, crudes up by one point four at
Speaker 1: eighty eight dollars cents a barrel, and the Euro one
Speaker 1: point zero one seven eight against the dollar. Bloomberg surveillance
Speaker 1: is straight ahead for Karen Moscow. I'm Nathan Hagar. This
Speaker 1: is Bloomberg