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Speaker 1: Live from the Bloomberg Interactive Workers studios. This is Bloomberg

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Speaker 1: day Break from Friday, February eleven two. Coming up this hour,

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Speaker 1: US futures fall, adding to yesterday's infleation fueled sell off.

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Speaker 1: Coleman Sacks opposites fed forecast, predicting seven rate heights this year.

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Speaker 1: The UK economy shows strength, expanding by the most since

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Speaker 1: World War Two, and the International Energy Agency Warren's oil

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Speaker 1: prices may be heading higher. Former Governor Plomo is finaling

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Speaker 1: a complaint against New York's attorney general. Plus tensions heightened

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Speaker 1: about the trucker's blockade at the US Canadian border. I'm

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Speaker 1: Michael Barn more ahead, John Stash Darn sports than next

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Speaker 1: trade of James Darn to Philadelphia, then lost their tenth

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Speaker 1: in a row the nixt with a surprising wind at

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Speaker 1: Golden Spinton. That's all straight ahead on Bloomberg Daybreak on

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Speaker 1: Bloomberg he liveing freon New York, Bloomberg one, Washington, d C,

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Speaker 1: Bloomberg one, O six one, Boston, Bloomberg nine sixties and

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Speaker 1: Francisco Sirius x M one nine Team, and around the

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Speaker 1: world on Bloomberg Radio dot Com and via the Bloomberg

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Speaker 1: Business Si, Hey, good morning. I'm Nathan Hagar and I'm Karen.

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Speaker 1: Moscow and global stops are lower this morning. We're coming

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Speaker 1: up to six and one on Wall Street, and we

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Speaker 1: checked the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg SMP Future is down twenty points. Now Future

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Speaker 1: is down one twenty six and as day Future is

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Speaker 1: down ninety one. The decks in Germany's down four tenths

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Speaker 1: of upper sent cack in Paris down one percent. Foot

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Speaker 1: See one hundred down seven tenths of upper cent. Ten

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Speaker 1: year Treasury up seven thirty seconds, yield two percent. Yield

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Speaker 1: on the two year one point five nine percent. NIMEX

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Speaker 1: screwed oil is up seven tenths per cent or sixty

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Speaker 1: eight cents and ninety dollars fifty five cents of barrel

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Speaker 1: comex gold down six tenths per cent or ten dollars

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Speaker 1: thirty cents. At eighteen twenty seven, ten announced the euro

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Speaker 1: one point one three nine six against the dollar. Nathan Well, Karen.

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Speaker 1: The drop in futures follows yesterday's inflation fueled sell off.

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Speaker 1: We saw the NASTAC one hundred lead declines. Bonds were

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Speaker 1: hit hard after the CPI report that showed an inflation

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Speaker 1: running at its highest pace in four decades. Emily Hill

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Speaker 1: is a founding partner at Bowersock Capital Partners. I think

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Speaker 1: there was a hope out there that inflation was moderating

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Speaker 1: or at least that inflation was peaking, and the numbers

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Speaker 1: that looked like Betts. So the market is now pricing in,

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Speaker 1: you know, much higher and likelihood of a simpy basins

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Speaker 1: point increasing race in March, which I don't think of

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Speaker 1: a in a huge surprise. Emily Hill with Bowersock Capital

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Speaker 1: Partners made the comments on Bloomberg Business Week. Catch the

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Speaker 1: program weekdays at two pm Eastern on Bloomberg Radio. Well, Nathan,

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Speaker 1: we also saw the selling an equity spill over to

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Speaker 1: Asia overnight and we get the recount from Bloomberg. Juliet

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Speaker 1: Sally and Singapore. Good morning, Juliette, Good morning Karen. Silver

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Speaker 1: and know it stroped in New Zealand and Australia, where

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Speaker 1: the three A yield hit its high since twenty nineteen.

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Speaker 1: The MSCI Asia Pacific Index X Japan, which was closed

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Speaker 1: for a holiday, dropped the most in two weeks, dragged

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Speaker 1: lower by Tex Stokes amid the rise in yields. Elsewhere,

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Speaker 1: Chinese banks extended a record amount of loans in Ja

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Speaker 1: your A, providing a boost to a slowing economy. Six

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Speaker 1: and twenty six billion dollars of new loans lent in

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Speaker 1: the month, beating economist media estimate at the highest level

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Speaker 1: in data going back to ninety two. In Singapore, Juliette

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Speaker 1: Sally Bloomberg daybreak. Okay, Juliet thanks, This is all a

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Speaker 1: response to hire interest rates, and the call for more

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Speaker 1: rate hikes this year is growing, Bloomberg. Rania Young joins

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Speaker 1: US Live to pick up that angle of the story.

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Speaker 1: Good morning, Ranita, Good morning. Nathan Goldman. Sachs now sees

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Speaker 1: the FED raising interest rates seven times this year. It's

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Speaker 1: earlier prediction was five. The Bank expects the FED to

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Speaker 1: lift rates by twenty five basis points in each of

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Speaker 1: its meetings this year to tame the hottest inflation in

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Speaker 1: four decades. Traders are also pricing in seven Fed hikes

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Speaker 1: this year, sending global bond yield soaring, and data yesterday

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Speaker 1: showed US consumer prices posting the biggest jump since two

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Speaker 1: Live in New York, I'm Ranita Young Bloomberg Daybreak, Ranita,

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Speaker 1: thank you. There's also growing speculation the Fed may ot

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Speaker 1: for a fifty basis point rate hike next month's meeting. St.

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Speaker 1: Louis FED President Jim Bullard, who votes on rates this year,

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Speaker 1: says he favors three hikes by July, with one of

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Speaker 1: them being a half point move. Richmond FED President Thomas

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Speaker 1: Barkin is less convinced of the need for a dramatic increase.

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Speaker 1: Open to it conceptually, sure, I mean there will be

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Speaker 1: times where we'll need to do that. There'll be times

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Speaker 1: in the past we have done do I think there's

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Speaker 1: a screaming need to do it right now. I'd have

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Speaker 1: to be convinced on that. Richmond FED President Thomas Barkin

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Speaker 1: made the comments at an event at the Stanford Institute

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Speaker 1: for Economic Policy Research. Well meantime, Karen the FEDS feeling

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Speaker 1: pressure from Congress. The top Republican on the Senate Banking

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Speaker 1: Committee once and overhaul of the Federal Reserves regional bank system.

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Speaker 1: Senator Pat Toomey of Pennsylvania says the twelve regional banks

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Speaker 1: reformed to manage economies in their districts, but that's no

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Speaker 1: longer the case. One of the things that concerns me

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Speaker 1: is maybe in the absence of having a compelling monetary

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Speaker 1: policy purpose, they seem to be wandering onto other fields

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Speaker 1: that they like to play on, but which have nothing

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Speaker 1: to do with the Fed's mission and it's purpose of

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Speaker 1: things like climate change, things like social justice. Stenditor Toomey

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Speaker 1: spoke with David Western on Bloomberg's Balance of Power. Catch

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Speaker 1: that program weekdays at noon Eastern on Bloomberg Radio and Television. Well, Nathan,

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Speaker 1: the economy is also in focus overseas data This morning

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Speaker 1: show the UK economy expanded last year by the most

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Speaker 1: sents world War two. When we get the latest live

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Speaker 1: in London with the Bloomberg's Max Ramsey. Good morning, Max, Morning,

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Speaker 1: Karen and Nathan. Yes, that's seven and a half percent

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Speaker 1: expansion in one was the fastest annual growth for the

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Speaker 1: UK economy since one. Another incredible statistic produced by the

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Speaker 1: pandemic and the subsequent recovery. But the economy was still

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Speaker 1: smaller here in the fourth quarter than it was pre pandemic,

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Speaker 1: so in that respect, lagging other major peers like France

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Speaker 1: and like the US. It's some welcome news for Prime

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Speaker 1: Minister Boris Johnson has been a lot of focus here

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Speaker 1: in Britain on inflation, on rising energy bills, and on

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Speaker 1: this ongoing political scandal over parties during lockdowns Live in London,

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Speaker 1: Max Ramsey Bloomberg Daybreak, Okay, Max, thank you. Energy prices

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Speaker 1: are also in focus this morning after a warning from

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Speaker 1: the International Energy Agency. It says oil prices may be

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Speaker 1: heading higher because chronic supply issues starting to increase tightness

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Speaker 1: and volatility. Checking prices now, nimex scruds up seven tenths

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Speaker 1: per cent or sixty one cents at ninety dollars fifty

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Speaker 1: cents of barrel Brent is highed by six tenths per

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Speaker 1: cent at ninety six cents. Well, Nathan, let's switch gears

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Speaker 1: now and talk space, specifically the race to Mars. Space

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Speaker 1: X founder Elon must says the f A a maigrant

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Speaker 1: environmental approval at the company South Texas launch site as

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Speaker 1: soon as next month. Now, I could pave the way

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Speaker 1: for a starship launch this year, and Bloomberg said Lovelow

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Speaker 1: is on the ground of the lone star stay with

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Speaker 1: the very latest. This was classic elon the big picture

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Speaker 1: that life on Earth won't be here forever and the

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Speaker 1: time to act is now. He reimagined a life on

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Speaker 1: Mars where Starship carries communities cargoes of people to another

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Speaker 1: planet to establish a base. He's confident that the f

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Speaker 1: A will give an environmental approval for Starship to be

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Speaker 1: able to launch Pretend as soon as March, and he

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Speaker 1: said that in terms of the technology, the Starship system

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Speaker 1: could be ready to launch in a couple of months.

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Speaker 1: Edlod Low, Bocachica, Texas for bloom Bang News. What a location.

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Speaker 1: Thank you. Ed. Futures are moving lower this morning, and

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Speaker 1: straight ahead we have your latest local headlines and a

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Speaker 1: check of sports. This is Bloomberg And at six o

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Speaker 1: seven on Wall Street where forty degrees in Central Park.

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Speaker 1: It's still dealing with that South Foundagon accident. Big delays

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Speaker 1: after Fordham Road. Details coming up in traffic. First, Michael

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Speaker 1: bar is here with more on what's going on in

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Speaker 1: New York and around the world. What do Michael, Good morning, Nathan.

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Speaker 1: It is deadline day for thousands of New York City

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Speaker 1: workers for mandatory vaccinations. If they don't show proof of

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Speaker 1: vaccination by today, they will get fired. At least of

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Speaker 1: city workers aren't vaccinated. Meanwhile, demonstrations are scheduled for later

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Speaker 1: this morning. The mayor of Windsor, Ontario, is trying legal

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Speaker 1: action to end a trucker's protest against COVID restrictions. Truckers

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Speaker 1: that blocked the bridge linking Windsor to Detroit, a crucial

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Speaker 1: point for moving auto parts and other suppliers. Windsor Mayor

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Speaker 1: Drew Dilkins the hallmark of the democracies in which we

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Speaker 1: live is that you can protest, you can share your opinion,

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Speaker 1: and we celebrate that, and that's okay. What's not okay

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Speaker 1: is to choke off the busiest border crossing between the

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Speaker 1: United States and Canada and impact thousands and thousands of

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Speaker 1: families across both countries. Mayor Dilkins says, we want this

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Speaker 1: to end peacefully. Vice President Kamala Harris will visit Newark today.

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Speaker 1: It will highlight replacing lead water pipes. Harris will be

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Speaker 1: joined by New Jersey Governor Phil Murphy. Members of the

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Speaker 1: Senate Judiciary Committee met with President Biden about his pick

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Speaker 1: to beyond the Supreme Court. Biden has said he wants

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Speaker 1: to pick a black woman to replace retiring Justice Stephen Bryant.

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Speaker 1: Committee member Senator Richard Blumenthal. This choice is historic, not

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Speaker 1: only because it will bring historic diversity of the court,

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Speaker 1: but also the quality of the person whom the president

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Speaker 1: pull a point I think will be historic and will

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Speaker 1: really help unite the country. Senator Bloomenthal says Democrats are

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Speaker 1: hoping for bi partisan support. Former Governor Andrew Cuomo plans

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Speaker 1: to file a complaint against New York Attorney General Latitia James.

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Speaker 1: It's over the investigation of sexual harassment allegations that led

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Speaker 1: to his resignation. By filing an ethics complaint with the

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Speaker 1: New York State Bar. Cuomo's attorney, Rita Glavin says the

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Speaker 1: probe conducted by James ignored evidence of witness tampering. Former

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Speaker 1: Alaska Governor Sarah Palin as compared to The New York

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Speaker 1: Times to Goliath and herself to David and their dispute

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Speaker 1: over seventeen editorial. Palin took the stand in Manhattan federal

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Speaker 1: record at a civil trial. She's accusing the newspaper of

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Speaker 1: damaging your reputation with an editorial linking her campaign rhetoric

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Speaker 1: to a mass shooting. Closing arguments take place today Global

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Speaker 1: News twenty four hours a day on airand on Bloomberg.

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Speaker 1: Quick Take powered by more than journalists and to listen

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Speaker 1: more than twenty countries. I'm Michael bar This is Bloomberg, Nathan.

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Speaker 1: Thanks Minkael. Turn up to six cent on Wall Street

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Speaker 1: time for the Bloomberg Sports Update with John stashell. Athan.

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Speaker 1: So much for the Big Three. A little over a

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Speaker 1: year ago, James Harden joined Kevin Durant and Kyrie Irving

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Speaker 1: in Brooklyn, but with all three in and out of

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Speaker 1: the lineup with injuries and then this season Irving not

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Speaker 1: being allowed to play home games, they only played together

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Speaker 1: sixteen times, and now Harden headed to Philadelphia, one unhappy

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Speaker 1: point guard traded for another. Harden goes to Philly with

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Speaker 1: Paul Millsap and coming to Brooklyn is Ben Simmons, who

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Speaker 1: had refused to play all season for the Sixers. The

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Speaker 1: Nets also get Seth Curry and Andre Drummond plus two

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Speaker 1: first round draft picks. And that's been played in Washington

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Speaker 1: and lost one thirteen, one twelve. They've now lost ten

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Speaker 1: in a row. The Knicks, who did not make a

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Speaker 1: trade before the deadline, with a surprising win at Golden

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Speaker 1: State one sixteen one four team. They did it without

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Speaker 1: the injured R. J. Barrett Julius Randall twenty eight points,

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Speaker 1: sixteen rebounds. Devil's won seven for at St. Louis at

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Speaker 1: the Olympics, but Kayla Different at least crossed the finish

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Speaker 1: line in the Super G but finished nights. John White

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Speaker 1: fourth in the snowboarding half White final of ent of

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Speaker 1: his career. The US women's hockey team with a four

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Speaker 1: one quarterfinal victory of the Czech Republic. Shots on goal,

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Speaker 1: we're fifty nine to six. The baseball lockout continues, with

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Speaker 1: Commissioner Rob Manfred determined to not let it drag off.

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Speaker 1: I see missing games as a disastrous outcome for the

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Speaker 1: for this industry, and we're committed to making an agreement

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Speaker 1: in an effort to avoid that one thing. The two

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Speaker 1: sides have agreed on the universal d H. No longer

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Speaker 1: will National league pitchers come to the plane. The d

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Speaker 1: H rule was American League only for forty eight years.

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Speaker 1: Johns Dash Award Bloomberg's Boys, big change, Thank you, john

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Speaker 1: SMP futures down twenty five point, stout futures down a

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Speaker 1: hundred forty nine, Nastack futures lower by a hundred nineteen.

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Speaker 1: The tenure treasury is up eight thirty seconds the yield.

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Speaker 1: Even Tom Porcelli, chief US economist at RBC Capital, joins

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Speaker 1: us next as the market resets for a more hawk

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Speaker 1: extending the clines along with U stock index futures as

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Speaker 1: red hot inflation stokes bets on faster Federal Reserve interest

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Speaker 1: grate hikes. We checked the markets every fifteen minutes throughout

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Speaker 1: the trading day on Bloomberg S and P futures down

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Speaker 1: twenty two points, now futures down one d twenty eight,

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Speaker 1: NASDAG futures down one hundred eight. Ten year treasury up

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Speaker 1: seven thirty seconds, held two percent, held down the two

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Speaker 1: year one point five nine percent. Nim X screwed oils

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Speaker 1: up nine tenths per cent or eighty cents at ninety dollars,

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Speaker 1: sixty eight cents of barrel co make School down six

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Speaker 1: tenths per cent or ten dollars twenty cents at eighteen

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Speaker 1: twenty seven twenty announced the euro one point one three

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Speaker 1: nine five against the dollar, British found one point three

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Speaker 1: five six five again one sixteen, and the bitcoin is

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Speaker 1: at forty three thousand, four hundred eighty dollars. Also watching

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Speaker 1: shares is Zillo jumping fourteen percent in early trading after

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Speaker 1: reporting positive earnings that meet the highest expectations. That's a

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Speaker 1: Bloomberg business flash. Now here's Michael Barr with Moore. Unless

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Speaker 1: going on around the world, Michael Karen, thank you very much.

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Speaker 1: Another round of diplomatic discussions over Russia and Ukraine were

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Speaker 1: held in Berlin. Diplomats from Russia, Ukraine, France and Germany

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Speaker 1: meant to try and resolve the crisis. However, no breakthroughs.

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Speaker 1: Two Democrats on the Senate Intelligence committees say the c

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Speaker 1: i A has secretly collected information about Americans. Senators Ron

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Speaker 1: Wyden and Martin Heinrich alleged the CIA has long hidden

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Speaker 1: details about the program from the public and Congress. Snowboarders

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Speaker 1: Shaun White competed in his final men's half by today

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Speaker 1: at the Beijing Olympics. He finished fourth out of the podium.

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Speaker 1: In the NBA, the Knicks beat the Warriors one sixteen,

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Speaker 1: one fourteen, the Wizards beat the Nets one thirteen, one twelve,

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Speaker 1: and NHL Action the Devils and Capitols won, the Bruins lost. Finally,

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Speaker 1: could be ninety degrees for Super Bowl fifty six Sunday

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Speaker 1: at Sofi Stadium in Inglewood, California. Global News twenty four

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Speaker 1: hours a day on here and on Bloomberg Quicktake, powered

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Speaker 1: by more than journalists and analysts for more than one

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Speaker 1: hundred twenty countries. I'm Michael Barr, and this is Bloomberg.

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Speaker 1: Nathan Alright, Michael, thank you. We're kind of to six

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Speaker 1: twenty on Wall Street Live from the Bloomberg Interacted Brokers Studios.

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Speaker 1: This is Bloomberg Daybreak. It's not just the temperatures for

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Speaker 1: the Super Bowl that are red hot, so's inflation. Of course.

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Speaker 1: Tom Porcelli is with US now, chief US Economists at

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Speaker 1: RBC Capital Markets as we continue to assess this forty

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Speaker 1: year spike in consumer prices and how the FED could react. Tom,

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Speaker 1: good morning, DC signs that we could be at peak

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Speaker 1: inflation after the seven and a half percent year over

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Speaker 1: your print, Well, well, good morning, um, and yeah, I

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Speaker 1: think that I think we can be getting close. Um. Look,

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Speaker 1: I think on a minimum, what what what we need

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Speaker 1: to be braced for is the reality that favorable year

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Speaker 1: ago comps will start to enter the mix. Um, and

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Speaker 1: that will start in the next few months. So so

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Speaker 1: so at a minimum, um, these these favorable comps will

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Speaker 1: will start to eat into the year and your peace. Um, Look,

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Speaker 1: you know it's it's it's gonna be a it's gonna

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Speaker 1: be a grind lower to start. But but I think,

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Speaker 1: and I look, I know it's hard to you know,

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Speaker 1: sort of see six months out or nine months out

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Speaker 1: or whatever, But I think what what we need to

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Speaker 1: bear in mind is there's a lot going on in

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Speaker 1: in in our economic backdrop. Right, So not only do

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Speaker 1: you have these these compact that could start the process

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Speaker 1: of easing inflation, but you're also going to have this

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Speaker 1: transition from goods to services spending UM. And it's really

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Speaker 1: been goods that have been doing most of the heavy

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Speaker 1: lifting of inflation over the course of the last year

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Speaker 1: or so. So if you have this transition that occurs,

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Speaker 1: and then this transition is happening while there's actually pretty

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Speaker 1: elevated inventories UM. You know, despite all of the sort

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Speaker 1: of the talk of UM of of you know, poored

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Speaker 1: issues in et cetera, which make no mistake that there present,

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Speaker 1: but just look at retail inventories, they're incredibly elevated UM.

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Speaker 1: And so if you have this transition away from goods

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Speaker 1: to service to spending, all new context of UM inventories

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Speaker 1: that that are actually pretty elevated. You could actually see

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Speaker 1: goods prices that slow, fairly, fairly abruptly over over the

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Speaker 1: course of the year. And and and which is our call.

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Speaker 1: And so by the end of the year, UM, we

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Speaker 1: think that you're going to be in a much different

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Speaker 1: place from from an inflation perspective. Again, I want to

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Speaker 1: stress you know, over the next month or two, we

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Speaker 1: do expect you'll see additional acceleration. UM. But once you

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Speaker 1: can be on that, we think that you'll start to

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Speaker 1: see inflationary pressures really begin to ease. If we do

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Speaker 1: start to see that transition from goods to services spending,

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Speaker 1: is there a risk that services inflation starts to rise? Yeah,

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Speaker 1: for sure. So you know, and look, and that's already

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Speaker 1: built into our call. You know, it's people keep on saying, oh,

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Speaker 1: what about what about you know rent and and O

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Speaker 1: E are right, owner's equivalent rent um. You know, but

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Speaker 1: isn't that gonna put a floor underneath inflation? Yes, it is,

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Speaker 1: you know, it's it's it's been long part of our call.

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Speaker 1: I mean the way that that that component works is,

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Speaker 1: you know, sort of past home price increases flow into

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Speaker 1: rent with with a lag um. So we're we're already

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Speaker 1: seeing that. I mean, that's not like a new story.

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Speaker 1: I mean that's been going on for months now, um,

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Speaker 1: and we expect and we expect it will go on

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Speaker 1: for months longer. Um. So So that's the thing that actually,

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Speaker 1: you know, puts a floor underneath inflation. So I want

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Speaker 1: to stress while we expect inflation will slow as the

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Speaker 1: year progresses, and again we could be in a much

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Speaker 1: different place. UM. You know, call it, you know, two

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Speaker 1: and a half to three percent core inflation by the

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Speaker 1: end of the year UM, which is certainly not out

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Speaker 1: of the realm of possibility. The thing that stops it

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Speaker 1: from going lower is the fact that services UM will

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Speaker 1: will remain incredibly buoyant and probably even accelerate a bit

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Speaker 1: from from from here. So so that's that's a long

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Speaker 1: part of the call. And you know, one one thing

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Speaker 1: that's funny. I always say, like, you know, when you're

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Speaker 1: in January and February, I think people always seem to

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Speaker 1: think of December as the finish line. UM. I wouldn't

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Speaker 1: do that in this instance. I think what you need

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Speaker 1: to keep in mind is that inflation I think could

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Speaker 1: remain pretty buoyant even into twenty three UM. And I

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Speaker 1: think that's one of the reasons why you know, the

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Speaker 1: Fed remains very will will remain very engaged in the

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Speaker 1: hiking cycle. So this is not just a twenty two story.

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Speaker 1: I think this is easily leaks into into twenty three.

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Speaker 1: We only have about thirty seconds left here. You've probably

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Speaker 1: heard the Goldman saxes calling for seven hikes this year.

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Speaker 1: Do you think we need that many? You know, I

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Speaker 1: think it's I think Bullard And I know, you know,

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Speaker 1: we didn't really talk about Bullard here, but um, but

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Speaker 1: but I think Bullard made a really great observation yesterday.

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Speaker 1: And I know, you know, it may seem aggressive what

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Speaker 1: he said, but I think there's some merit to it

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Speaker 1: if they hike rates by a hundred basis points between

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Speaker 1: now and July. His view was, then, but then let's

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Speaker 1: just stop and reassess and and see what the backdrop

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Speaker 1: looks like. Um, you know, maybe they don't need to

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Speaker 1: do anymore. So I'm I'm I'm very sympathetic to to

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Speaker 1: to that view. I think that it's you know, we're

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Speaker 1: in of the the inflation dynamic is going to be

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Speaker 1: shifting very quickly, and I think that's something we need

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Speaker 1: to keep in mind. Interesting. Thanks as always for your insights, Tom,

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Speaker 1: really appreciate it. Tom Porcelli, Chief US Economists at RBC

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Speaker 1: Capital Markets. SMP futures down down twenty three point, staff

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Speaker 1: futures down a hundred thirty nine. Nastack futures are lower

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Speaker 1: by a hundred thirteen points. The tenure treasury of eight

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Speaker 1: thirty seconds. The yield right at two percent. Just ahead

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Speaker 1: the market wraps up rate hikeh Vets and Elon Musk's

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Speaker 1: says Spaceship Starship is clear for takeoff. This is Bloomberg

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Speaker 1: Bloomberg eleven three oh weather sunshine up or forties today,

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Speaker 1: low fifties tomorrow, low thirties on Sunday, with a chance

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Speaker 1: for snow on Super Bowl Sunday. Right now forty one

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Speaker 1: degrees in Central Park. Broadcasting live from the Bloomberg Interactive

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Speaker 1: Broker Studio in New York. Bloomberg Event free to Washington,

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Speaker 1: d C, Bloomberg N one to Boston, Bloomberg one O

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Speaker 1: Sirius XM to the one nine and around the globe

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Speaker 1: to Bloomberg Business app and Bloomberg Radio dot Com. This

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Speaker 1: is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning.

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Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Were just about

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Speaker 1: three hours away from the open of US trading. It

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Speaker 1: is time for the five things you need to know

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Speaker 1: Slash Compair up first US futures extending losses. This morning,

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Speaker 1: right hon Inflation is stoking bets on faster interest rate

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Speaker 1: moves from the Fed, and we get the latest Live

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Speaker 1: with the Bloomberg's Rnda Young. Good Morning, Renda, Good morning.

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Speaker 1: Karen Goldman. Sachs now sees the Fed raising interest rates

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Speaker 1: seven times this year. It's earlier prediction was five. The

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Speaker 1: Bank expects the FIT to lift rates by twenty five

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Speaker 1: basis points in each of its meetings this year to

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Speaker 1: tame the hottest inflation in four decades. Traders are also

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Speaker 1: pricing in seven FIT hikes this year, sending global bond

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Speaker 1: yield soaring. Data yesterday showed US consumer prices posting the

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Speaker 1: biggest jump since Live in New York, I'm Nita Young,

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Speaker 1: Bloomberg Day Break, A Nita, thank you. In the UK,

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Speaker 1: the economy expanded last year by the most since World

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Speaker 1: War Two. Gross domestic product was up seven and a

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Speaker 1: half percent, make Britain the fastest growing advanced economy. That's

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Speaker 1: despite growth shrinking two tenths percent in December Oil and

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Speaker 1: focus this morning, the International Energy Agency is saying crewde

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Speaker 1: prices mayhead higher because of chronic supply issues and checking

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Speaker 1: prices right now. Nim X, screwed oil, Apple one pent

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Speaker 1: or ninety cents and ninety seventy eight cents of barrel

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Speaker 1: Brent is up nine tent at ninety two twenty cents,

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Speaker 1: and some stocks on the move this morning. Karen shares

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Speaker 1: of zillo Or up fourteen percent. Earnings topped estimates as

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Speaker 1: a hot housing market helped the company wind down its

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Speaker 1: home flipping business. Shares of Expedia are up almost four percent.

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Speaker 1: The travel company reported fourth quarter profit that topped estimates.

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Speaker 1: And Nathan the space race also in focus. Space X

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Speaker 1: founder Elon Musk saying he's confident his new Starship will

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Speaker 1: be ready for launch this year. The aircraft is a

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Speaker 1: centerpiece of his plan to travel to Mars this year.

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Speaker 1: We're actually aiming to have around fifty launches, so it's

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Speaker 1: about a launch per week on average. And yeah, so

428
00:22:57,760 --> 00:23:00,679
Speaker 1: it's how here we got ahead of us. And Elon

429
00:23:00,760 --> 00:23:03,960
Speaker 1: Musk spoke at a space x event in Texas, saying

430
00:23:03,960 --> 00:23:06,240
Speaker 1: that he is aiming for up to three starship flights

431
00:23:06,240 --> 00:23:08,760
Speaker 1: a day. Each flight is expected to cost less than

432
00:23:08,800 --> 00:23:11,320
Speaker 1: ten million dollars. And that's the five things you need

433
00:23:11,359 --> 00:23:13,120
Speaker 1: to know to start your day. Brought to you by

434
00:23:13,200 --> 00:23:16,840
Speaker 1: Interactive Brokers SNP. Future is up twenty five or down

435
00:23:16,960 --> 00:23:19,760
Speaker 1: rather twenty five points down. Future is also falling down

436
00:23:19,760 --> 00:23:22,840
Speaker 1: one hundred fifty four and NASDAC futures are down one

437
00:23:22,880 --> 00:23:26,200
Speaker 1: hundred fourteen tenuere Treasury up eight thirty seconds, the yield

438
00:23:26,440 --> 00:23:29,760
Speaker 1: to per cent and straight ahead your latest local headlines

439
00:23:29,840 --> 00:23:39,280
Speaker 1: plus the check of sports. And this is Bloomberg all right, Karen. Thanks,

440
00:23:39,359 --> 00:23:43,120
Speaker 1: It's Wall Street, forty degrees in Central Park. This accident

441
00:23:43,160 --> 00:23:45,000
Speaker 1: on the south Bend Deagan has been holding us up

442
00:23:45,040 --> 00:23:47,760
Speaker 1: all morning long. We'll get the details of traffic shortly. First,

443
00:23:47,800 --> 00:23:49,639
Speaker 1: Michael Barr is here with what else is going on

444
00:23:49,680 --> 00:23:51,639
Speaker 1: in New York and around the world. Good morning, Michael,

445
00:23:52,000 --> 00:23:55,520
Speaker 1: Morning Nathan. Former New York Governor Andrew Cuomo will personally

446
00:23:55,600 --> 00:24:00,359
Speaker 1: file to complain against State Attorney General Latitia James. Cuomo's attorney,

447
00:24:00,520 --> 00:24:03,520
Speaker 1: Rita Glavin, says the ex governor feels strongly there was

448
00:24:03,600 --> 00:24:08,040
Speaker 1: misconduct in the manner of James's civil investigation. According to

449
00:24:08,080 --> 00:24:11,919
Speaker 1: that report Cuomo sexually harassed the Loving Women, allegations he

450
00:24:11,960 --> 00:24:15,639
Speaker 1: has denied. President Joe Biden appears to be narrowing his

451
00:24:15,760 --> 00:24:19,000
Speaker 1: list of candidates for the Supreme Court, saying he's looking

452
00:24:19,040 --> 00:24:22,679
Speaker 1: at about four people to replace retiring Justice Stephen Bryer.

453
00:24:23,080 --> 00:24:26,760
Speaker 1: Biden spoke in an interview with NBC, I think, well,

454
00:24:26,800 --> 00:24:29,280
Speaker 1: whomever I think we'll get a vote from the Republican

455
00:24:29,320 --> 00:24:32,040
Speaker 1: side for the following reason. I'm not looking to make

456
00:24:32,040 --> 00:24:35,280
Speaker 1: an ideological choice here. I'm looking for someone to replace

457
00:24:35,359 --> 00:24:39,560
Speaker 1: Judge Bryer with the same kind of capacity Judge Brier,

458
00:24:39,840 --> 00:24:44,160
Speaker 1: with an open mind, who understands in a constitution inter

459
00:24:44,240 --> 00:24:47,040
Speaker 1: person in a way that is consistent with the mainstream

460
00:24:47,040 --> 00:24:51,400
Speaker 1: interpretation of the Constitution. President Biden has said his nominee

461
00:24:51,400 --> 00:24:54,040
Speaker 1: will be a black woman and he will decide by

462
00:24:54,080 --> 00:24:57,679
Speaker 1: the ind February, at least six auto plants near the U. S.

463
00:24:57,760 --> 00:25:01,280
Speaker 1: Canada border have slashed out put as the impact from

464
00:25:01,280 --> 00:25:05,320
Speaker 1: a protest blocking truck traffic into Detroit begins rippling through

465
00:25:05,359 --> 00:25:09,240
Speaker 1: both nations economies. The blockade started Monday as an offshoot

466
00:25:09,280 --> 00:25:12,760
Speaker 1: of the trucker Convoy and Ottawa the protest of vaccine

467
00:25:12,760 --> 00:25:16,280
Speaker 1: mandate for drivers who travel across the US border. Windsor,

468
00:25:16,359 --> 00:25:20,479
Speaker 1: Ontario Mayor Drew Dilkins wants it to end peacefully. Something

469
00:25:20,560 --> 00:25:22,639
Speaker 1: has to happen, something has to give, and if we

470
00:25:22,720 --> 00:25:25,920
Speaker 1: can't gain compliance, then we bring toe tracks in and

471
00:25:26,520 --> 00:25:29,159
Speaker 1: many police services to help remove people who are legally

472
00:25:29,200 --> 00:25:32,040
Speaker 1: blocking the roadway leading to this crossing. Dilkins says the

473
00:25:32,040 --> 00:25:35,760
Speaker 1: blockade at the Ambassador Bridge, which links Windsor to Detroit,

474
00:25:36,040 --> 00:25:38,879
Speaker 1: is the busiest border crossing between the two countries, with

475
00:25:38,920 --> 00:25:41,959
Speaker 1: four hundred million dollars a day crossing at the border.

476
00:25:42,560 --> 00:25:46,120
Speaker 1: Vice President Kamala Harris's schedule to visit Newark the Vice

477
00:25:46,160 --> 00:25:49,960
Speaker 1: President's triple highlight the city's success and replacing twenty three

478
00:25:50,000 --> 00:25:55,080
Speaker 1: thousand lead water pipes. The funding for replacing the pipes

479
00:25:55,280 --> 00:25:58,360
Speaker 1: was one of the provisions in the Biden administration's bipartisan

480
00:25:58,520 --> 00:26:02,040
Speaker 1: infrastructure bill passed last year. New Jersey Governor Phil Murphy

481
00:26:02,119 --> 00:26:05,080
Speaker 1: will join here US today. Nevada is the latest state

482
00:26:05,119 --> 00:26:07,719
Speaker 1: to announce mask will no longer be required in public.

483
00:26:07,880 --> 00:26:12,040
Speaker 1: Governor Steve Ceciliac signed Downward Trends and COVID Statistics Global

484
00:26:12,080 --> 00:26:14,040
Speaker 1: News twenty four hours a day on air end on

485
00:26:14,080 --> 00:26:16,440
Speaker 1: Bloomberg Quick Take Power by more than the seven hundred

486
00:26:16,480 --> 00:26:19,240
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr,

487
00:26:19,280 --> 00:26:26,679
Speaker 1: this is Bloomberg, Nathan, Thank you Michael, coming up to

488
00:26:26,720 --> 00:26:28,920
Speaker 1: six thirty six on Wall Street and John Stash always

489
00:26:28,920 --> 00:26:31,480
Speaker 1: got the Bloomberg Sports Update, all right, Nathan. About a

490
00:26:31,520 --> 00:26:34,600
Speaker 1: week after Nets coach Steve Nash insisted the team was

491
00:26:34,640 --> 00:26:37,640
Speaker 1: not going to trade James Harden, they traded James Harden

492
00:26:37,640 --> 00:26:40,879
Speaker 1: to Philadelphia and a blockbuster trade involving five players in

493
00:26:40,920 --> 00:26:43,240
Speaker 1: the Nets getting two first round draft picks, and it's core.

494
00:26:43,320 --> 00:26:46,800
Speaker 1: It is hardened for Ben Simmons, two All star point guards.

495
00:26:46,840 --> 00:26:48,680
Speaker 1: Harden had made it know when he was not wanting

496
00:26:48,720 --> 00:26:51,680
Speaker 1: to resign with Brooklyn after the season. Simmons so unhappy

497
00:26:51,680 --> 00:26:54,000
Speaker 1: in Philly and had refused to play a minute for

498
00:26:54,040 --> 00:26:58,040
Speaker 1: the Sixers this season. Harden vastly superior to Simmons offensively,

499
00:26:58,119 --> 00:27:00,600
Speaker 1: but Simmons is a six ten point guard who can

500
00:27:00,680 --> 00:27:03,520
Speaker 1: rebound and defend. He just can't really shoot from the outside.

501
00:27:03,520 --> 00:27:06,240
Speaker 1: How does Kevin Durant feel about the trade? He refused

502
00:27:06,240 --> 00:27:08,560
Speaker 1: to draft Harden when he and Lebron James were choosing

503
00:27:08,600 --> 00:27:12,000
Speaker 1: up the All Star squads. Nets lost in Washington one thirteen,

504
00:27:12,000 --> 00:27:14,360
Speaker 1: one twelve. That's their tent loss in the row. Nixt

505
00:27:14,400 --> 00:27:17,200
Speaker 1: was maybe their best one of the season. Playing without r. J. Barrett.

506
00:27:17,400 --> 00:27:20,480
Speaker 1: They won at Golden State one six fourteen. Devils scored

507
00:27:20,520 --> 00:27:23,639
Speaker 1: five times third period and won seventh four at St. Louis.

508
00:27:23,840 --> 00:27:26,479
Speaker 1: Controversy at the Olympics. What a surprise and it involves

509
00:27:26,520 --> 00:27:29,159
Speaker 1: Russian dopey words of the fifteen year old figure skintting

510
00:27:29,200 --> 00:27:32,159
Speaker 1: feed on Camilla vali Eva actually tested positive for a

511
00:27:32,200 --> 00:27:35,560
Speaker 1: band drug before the Olympics began. Not known of Russia

512
00:27:35,600 --> 00:27:37,879
Speaker 1: will keep the gold medal at one of the team competition,

513
00:27:37,960 --> 00:27:40,760
Speaker 1: or vali Eva can compete in the individual where she

514
00:27:41,000 --> 00:27:43,720
Speaker 1: is the favorite. After nearly a half century with the

515
00:27:43,720 --> 00:27:46,800
Speaker 1: two leagues playing by different rules, Baseball, if and when

516
00:27:46,840 --> 00:27:49,960
Speaker 1: the lockout ends is going to the Universal DH. Aaron

517
00:27:50,080 --> 00:27:52,159
Speaker 1: Rodgers named NFL m v P at his speech. He

518
00:27:52,200 --> 00:27:54,800
Speaker 1: said he has great memories of playing in Green Bay,

519
00:27:55,320 --> 00:27:57,680
Speaker 1: fuelling the belief he will not return to the package.

520
00:27:58,080 --> 00:28:01,960
Speaker 1: Jock Stash Award Bloomberg Schurt Okay John Thanks six thirty

521
00:28:02,000 --> 00:28:04,040
Speaker 1: seven on Wall Street. Time to take a look at stock.

522
00:28:04,119 --> 00:28:06,240
Speaker 1: Some of the names moving in the pre market. Bloomberg

523
00:28:06,320 --> 00:28:09,280
Speaker 1: Radio on TV. Markets correspondent Crety Gupta is with us

524
00:28:09,280 --> 00:28:11,359
Speaker 1: on a down morning for stocks, but we do have

525
00:28:11,440 --> 00:28:14,960
Speaker 1: some individual names moving higher on earnings create a little

526
00:28:15,000 --> 00:28:16,680
Speaker 1: bit of green on the screen on a micro basis.

527
00:28:16,720 --> 00:28:19,440
Speaker 1: Let's start with Expedia here. E x pe is your

528
00:28:19,480 --> 00:28:21,919
Speaker 1: ticker up just shy flour percent in the pre market.

529
00:28:22,160 --> 00:28:24,760
Speaker 1: This is a travel company and ethan essentially that actually

530
00:28:24,840 --> 00:28:27,920
Speaker 1: survived the omicron variant. This is a huge deal because

531
00:28:27,960 --> 00:28:30,160
Speaker 1: going into this earnings report, a lot of people were

532
00:28:30,160 --> 00:28:33,000
Speaker 1: expecting Expedia to kind of miss their earnings because no

533
00:28:33,000 --> 00:28:36,239
Speaker 1: one's traveling in the face of a variant. Nevertheless, they

534
00:28:36,280 --> 00:28:39,920
Speaker 1: reported fourth quarter profits that topped those analysts estimates, actually

535
00:28:39,960 --> 00:28:44,080
Speaker 1: benefiting from a holiday travel a season that proved pretty resilient.

536
00:28:44,360 --> 00:28:47,160
Speaker 1: So good news over at Expedia. E xpe once again

537
00:28:47,240 --> 00:28:49,600
Speaker 1: up just shy of four percent. Let's talk about Zillo

538
00:28:49,680 --> 00:28:52,600
Speaker 1: though just the letter Z is the ticker shares jumping

539
00:28:52,640 --> 00:28:55,400
Speaker 1: fifteen percent in the pre market. This comes after they

540
00:28:55,400 --> 00:28:58,600
Speaker 1: also reported earnings that beat the highest expectations. The company

541
00:28:59,320 --> 00:29:02,920
Speaker 1: talking about their goal of becoming the quote housing super app.

542
00:29:02,960 --> 00:29:06,440
Speaker 1: It's something that investors really appreciated going into these earnings

543
00:29:06,440 --> 00:29:08,480
Speaker 1: from Brazilia has had a very hard time of it lately.

544
00:29:08,520 --> 00:29:11,480
Speaker 1: Their rental business wasn't doing so well. But this earnings

545
00:29:11,480 --> 00:29:13,920
Speaker 1: report coming out very strong for Zila once again, the

546
00:29:14,000 --> 00:29:16,520
Speaker 1: takers just the letter Z shares jumping at fifteen percent.

547
00:29:16,600 --> 00:29:18,240
Speaker 1: And we got to talk about a firm Holdings. This

548
00:29:18,280 --> 00:29:21,080
Speaker 1: is the buy now, pay later firm. A f RM

549
00:29:21,200 --> 00:29:24,320
Speaker 1: is your taker. Actually down ten percent in the pre market.

550
00:29:24,320 --> 00:29:28,320
Speaker 1: This comes after its worst decline on record yesterday and

551
00:29:28,360 --> 00:29:31,240
Speaker 1: that of course caused by some disappointing results. Yeah, so

552
00:29:31,360 --> 00:29:33,560
Speaker 1: some big names once again. What other earning stories you're

553
00:29:33,560 --> 00:29:35,800
Speaker 1: looking at this morning, Yeah, well a ton, let's talk

554
00:29:35,800 --> 00:29:38,360
Speaker 1: about YELP here. Y e LP is your ticker. Those

555
00:29:38,360 --> 00:29:40,760
Speaker 1: shares gaining four point three percent in the pre market.

556
00:29:40,760 --> 00:29:43,000
Speaker 1: This is the online review side of course, that be

557
00:29:43,200 --> 00:29:46,480
Speaker 1: those expectations. It also gave a full year forecast that

558
00:29:46,560 --> 00:29:48,840
Speaker 1: topped those expectations to so once again, y e l

559
00:29:48,880 --> 00:29:51,360
Speaker 1: P up four point three percent. Let's play earnings a

560
00:29:51,400 --> 00:29:53,280
Speaker 1: side for a second, and talked about d D shares

561
00:29:53,400 --> 00:29:55,920
Speaker 1: d I d I. Of course, we know the Chinese

562
00:29:56,240 --> 00:29:59,880
Speaker 1: ride sharing giant that's been dealing with quite the kind

563
00:29:59,880 --> 00:30:03,360
Speaker 1: of international tensions showing up in those shares well their

564
00:30:03,440 --> 00:30:06,080
Speaker 1: US listed chairs, those ad rs falling five percent in

565
00:30:06,120 --> 00:30:08,640
Speaker 1: the U S pre market. This comes after ten Cents

566
00:30:08,640 --> 00:30:11,000
Speaker 1: said that it hasn't bought shares in the ride hailing

567
00:30:11,040 --> 00:30:13,760
Speaker 1: firm since it went public. This is a huge deal.

568
00:30:13,800 --> 00:30:16,360
Speaker 1: Tencent was supposed to be a majority owner indeed, but

569
00:30:16,440 --> 00:30:19,680
Speaker 1: since that delisting US kind of turmoil that you saw

570
00:30:19,680 --> 00:30:21,680
Speaker 1: on the stock here the idea that might get real

571
00:30:21,720 --> 00:30:23,840
Speaker 1: listed in Hong Kong, You can really see some of

572
00:30:23,840 --> 00:30:25,320
Speaker 1: that pain in those stocks. It kind of seems like

573
00:30:25,400 --> 00:30:28,200
Speaker 1: even Chinese companies, no matter how big they are, even

574
00:30:28,200 --> 00:30:30,120
Speaker 1: beside the ten Cent, kind of want to stay away

575
00:30:30,120 --> 00:30:32,680
Speaker 1: from this one, all right. Bloomberg Radio and TV markets

576
00:30:32,680 --> 00:30:35,640
Speaker 1: correspondent Creedy Gupta with the pre market check for US,

577
00:30:35,680 --> 00:30:37,160
Speaker 1: and as we take a look at stocks as a

578
00:30:37,160 --> 00:30:40,200
Speaker 1: whole ahead of this Friday morning open, futures are moving lower.

579
00:30:40,680 --> 00:30:43,240
Speaker 1: SMP features down twenty three points, stawn futures down a

580
00:30:44,160 --> 00:30:47,800
Speaker 1: NASTACK futures leading the declines this morning once again down

581
00:30:47,800 --> 00:30:50,360
Speaker 1: a hundred five points, and the tenure treasury is now

582
00:30:50,440 --> 00:30:53,920
Speaker 1: up nine thirty seconds, the yield just dropping below two

583
00:30:53,960 --> 00:30:56,440
Speaker 1: percent at one point nine nine. The yield on the

584
00:30:56,480 --> 00:30:59,760
Speaker 1: two year right now one point five eight percent, and

585
00:31:00,280 --> 00:31:03,360
Speaker 1: looking at bitcoin on the session right now touch lower

586
00:31:03,440 --> 00:31:06,600
Speaker 1: forty three thousand, five h dollars. We'll get an update

587
00:31:06,640 --> 00:31:09,840
Speaker 1: on the nation's capital next as President Biden gives an

588
00:31:09,840 --> 00:31:14,640
Speaker 1: expansive pre Super Bowl interview, and get details from Bloomberg

589
00:31:14,680 --> 00:31:17,920
Speaker 1: Government reporter Emily Wilkins. Just ahead, you're listening to Bloomberg

590
00:31:18,080 --> 00:31:25,800
Speaker 1: Daybreak Bloomberg eleven three oh weather. Sunshine upper forties today,

591
00:31:25,840 --> 00:31:28,760
Speaker 1: low fifties tomorrow. We'll only get into the low thirties

592
00:31:28,800 --> 00:31:31,640
Speaker 1: on Super Bowl Sunday. We're looking for flurries or snow showers,

593
00:31:31,720 --> 00:31:38,120
Speaker 1: especially over Long Island. Currently forty degrees in Central Park. Markets.

594
00:31:38,240 --> 00:31:41,320
Speaker 1: Headlines and breaking news twenty four hours a day at

595
00:31:41,320 --> 00:31:44,720
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg

596
00:31:44,800 --> 00:31:53,680
Speaker 1: Quick Tape. This is a Bloomberg Business Flash and I'm

597
00:31:53,720 --> 00:31:56,240
Speaker 1: Karen Moscow. Future is following this morning. Here to the

598
00:31:56,240 --> 00:31:58,680
Speaker 1: first word breaking news dance for today's morning call, and

599
00:31:58,680 --> 00:32:02,400
Speaker 1: here's Bill Maloney. Bill, Good morning, Hey, good morning, Karen.

600
00:32:02,440 --> 00:32:04,640
Speaker 1: That's right. U s features are in the red following

601
00:32:04,720 --> 00:32:07,160
Speaker 1: yesterday sell off without futures down a hundred and fifty

602
00:32:07,160 --> 00:32:10,160
Speaker 1: three points sub drop twenty five will the NASDAC futures

603
00:32:10,160 --> 00:32:13,000
Speaker 1: are off by a hundred and ten he was a

604
00:32:13,000 --> 00:32:15,840
Speaker 1: ten year that two percent. Gold is little change, Oil

605
00:32:15,880 --> 00:32:18,959
Speaker 1: trading higher and bitcoin is down by point nine percent.

606
00:32:19,280 --> 00:32:22,040
Speaker 1: Europa markets are also under pressure this morning, and back

607
00:32:22,080 --> 00:32:24,560
Speaker 1: in the US on the economic front. At ten o'clock

608
00:32:24,640 --> 00:32:28,040
Speaker 1: Michigan Sentiment after the bellast night Zillo report, it shows

609
00:32:28,040 --> 00:32:31,200
Speaker 1: her up four percent pre market and look for under

610
00:32:31,280 --> 00:32:34,120
Speaker 1: armour t report in the pre market. Wrapping things up,

611
00:32:34,120 --> 00:32:36,880
Speaker 1: a firm Holdings was cut to underperform at Jeffreys Call

612
00:32:37,000 --> 00:32:40,080
Speaker 1: Cutter underweight to Jacob Morgan, and Data Dog was raised

613
00:32:40,080 --> 00:32:43,400
Speaker 1: to overweight over at key Bank. Live from the first

614
00:32:43,400 --> 00:32:46,120
Speaker 1: Breaking News Descomb Bill Maloney, Karen, all right, Bill, thank you,

615
00:32:46,160 --> 00:32:48,640
Speaker 1: and here live breaking news over your Bloomberg tied squawk

616
00:32:48,720 --> 00:32:51,239
Speaker 1: on your terminal ascue you a w K and that's

617
00:32:51,240 --> 00:32:54,240
Speaker 1: a Bloomberg business flash. Now here's Michael Barrow with Moore

618
00:32:54,280 --> 00:32:56,800
Speaker 1: on what's going on around the world. Michael, Karen, thank

619
00:32:56,840 --> 00:33:01,480
Speaker 1: you very much. The US reasserted its intention to impose swift,

620
00:33:01,560 --> 00:33:05,200
Speaker 1: severe costs on Russia if the Kremlin takes any aggressive

621
00:33:05,240 --> 00:33:10,240
Speaker 1: acts against Ukraine. Meanwhile, Germany and France pushed forward diplomatic efforts.

622
00:33:10,560 --> 00:33:14,040
Speaker 1: They are now multiple trucker blockades along the US and

623
00:33:14,160 --> 00:33:18,080
Speaker 1: Canada border. US officials are urging their Canadian counterparts to

624
00:33:18,200 --> 00:33:21,400
Speaker 1: end the disruption along the Ambassador Bridge, a key trade

625
00:33:21,480 --> 00:33:26,880
Speaker 1: route for automakers between Windsor, Ontario and Detroit. Snowboarder Shaun

626
00:33:26,920 --> 00:33:29,800
Speaker 1: White competed in his final men's half five today the

627
00:33:29,800 --> 00:33:32,800
Speaker 1: Beijing Olympics. He finished fourth out of the podium. In

628
00:33:32,840 --> 00:33:35,840
Speaker 1: the NBA, the Knicks beat the Warriors one sixteen, one fourteen.

629
00:33:35,840 --> 00:33:38,760
Speaker 1: The Wizards beat the Nets one thirteen, one twelve. In

630
00:33:38,800 --> 00:33:41,880
Speaker 1: the NHL, the Devils and Capitals wan. The Bruins lost.

631
00:33:42,280 --> 00:33:45,000
Speaker 1: Global news twenty four hours a day on air and

632
00:33:45,200 --> 00:33:48,480
Speaker 1: on Bloomberg Quickdate, powered by more than twenty seven hundred

633
00:33:48,520 --> 00:33:50,840
Speaker 1: journalist and analysts, are more than a hundred twenty countries.

634
00:33:51,200 --> 00:33:55,400
Speaker 1: Michael barn This is Bloomberg. The following commentary is from

635
00:33:55,440 --> 00:34:00,640
Speaker 1: Bloomberg Opinion. A modern monetary theory deal with inflation. Clive Crook,

636
00:34:00,680 --> 00:34:04,280
Speaker 1: a columnist for Bloomberg Opinion. Modern minitry theory has a

637
00:34:04,320 --> 00:34:08,000
Speaker 1: wide following. With prices surging, it needs to answer a question.

638
00:34:08,120 --> 00:34:11,600
Speaker 1: It's neglected up to now, what's the remedy for inflation?

639
00:34:11,920 --> 00:34:14,520
Speaker 1: It doesn't really have one. M M T won't let

640
00:34:14,520 --> 00:34:17,359
Speaker 1: the Fed do the job. It says fiscal policy has

641
00:34:17,400 --> 00:34:20,960
Speaker 1: to meaning Congress. That's asking a lot of a body

642
00:34:21,000 --> 00:34:23,839
Speaker 1: that struggles to do anything, never mind direct a new

643
00:34:23,920 --> 00:34:28,080
Speaker 1: kind of fiscal policy with fine control and MT requires

644
00:34:28,080 --> 00:34:31,840
Speaker 1: a wise and competent Congress advocates much more government spending

645
00:34:32,239 --> 00:34:35,680
Speaker 1: and used talk of fiscal discipline as gibberish when it

646
00:34:35,680 --> 00:34:38,480
Speaker 1: comes to curving inflation. This is not a formula for

647
00:34:38,600 --> 00:34:42,080
Speaker 1: success and Clive Crook. For more opinion, please go to

648
00:34:42,120 --> 00:34:45,160
Speaker 1: Bloomberg dot com, Slash Opinion or O P I n

649
00:34:45,239 --> 00:34:48,960
Speaker 1: go on the Bloomberg terminal. This has been Bloomberg Opinion

650
00:34:49,239 --> 00:34:52,040
Speaker 1: and Bloomberg Opinion commentaries and we heard every weekday at

651
00:34:52,040 --> 00:34:54,520
Speaker 1: this time and terminal customers can read more at O

652
00:34:54,680 --> 00:34:57,440
Speaker 1: P I n go. It is six fifty on Wall Street.

653
00:34:57,480 --> 00:35:00,080
Speaker 1: We turned to news and science and technology now with

654
00:35:00,120 --> 00:35:02,759
Speaker 1: the Bloomberg n j I T STEM Report, brought to

655
00:35:02,800 --> 00:35:07,040
Speaker 1: you buy New Jersey Institute of Technology transforming computing professionals

656
00:35:07,040 --> 00:35:10,080
Speaker 1: into data scientists to meet demanded this fast growing field.

657
00:35:10,360 --> 00:35:12,960
Speaker 1: Learn more at n j I T dot edu slash

658
00:35:13,040 --> 00:35:16,920
Speaker 1: data science now Here's this making news and science, technology, engineering,

659
00:35:16,960 --> 00:35:19,680
Speaker 1: and math. The US struck a seven hundred twenty million

660
00:35:19,680 --> 00:35:22,680
Speaker 1: dollar deal with Eli Lily for supplies of an experimental

661
00:35:22,719 --> 00:35:25,959
Speaker 1: COVID drug that appears to fight the omicron variant. Under

662
00:35:26,000 --> 00:35:28,279
Speaker 1: the agreement, Lily will provide the Department of Health and

663
00:35:28,400 --> 00:35:31,919
Speaker 1: Human Services with six hundred thousand doses of a monoclonal

664
00:35:32,040 --> 00:35:35,520
Speaker 1: antibody under u S regulatory review for treatment of mild

665
00:35:35,520 --> 00:35:39,800
Speaker 1: to moderate COVID in certain high risk patients. Hong Kong

666
00:35:39,840 --> 00:35:43,279
Speaker 1: has reported another record day of coronavirus cases. There were

667
00:35:43,280 --> 00:35:46,240
Speaker 1: more than thirteen hundred infections along with more than fifteen

668
00:35:46,280 --> 00:35:49,880
Speaker 1: hundred preliminary positive cases. The outbreak is putting more pressure

669
00:35:49,880 --> 00:35:53,160
Speaker 1: on the government's push for COVID zero and Space Next

670
00:35:53,160 --> 00:35:56,400
Speaker 1: founder Elon Musk says that the first orbital flight of

671
00:35:56,440 --> 00:36:00,239
Speaker 1: his Towering starship could come in another month or two.

672
00:36:00,440 --> 00:36:04,120
Speaker 1: SpaceX is awaiting approval from the Federal Aviation Administration before

673
00:36:04,239 --> 00:36:08,000
Speaker 1: going into orbit. The more launchers that happened, the lower

674
00:36:08,080 --> 00:36:12,040
Speaker 1: the total cost of fully considered cost per flight would

675
00:36:12,040 --> 00:36:15,560
Speaker 1: be um but I'm highly confident it would be less

676
00:36:15,600 --> 00:36:18,880
Speaker 1: than ten million dollars. Elon must says he is eventually

677
00:36:18,920 --> 00:36:22,319
Speaker 1: aiming for up to three Starship flights a day. And

678
00:36:22,360 --> 00:36:26,200
Speaker 1: that's the Bloomberg and j I t Stem Report. Nathan, Okay, Karen,

679
00:36:26,200 --> 00:36:28,760
Speaker 1: thank you. We are live from the Bloomberg Interactive Broker

680
00:36:28,840 --> 00:36:31,520
Speaker 1: Studios where it's six fifty one on Wall Street Time

681
00:36:31,600 --> 00:36:33,360
Speaker 1: now to check what's going on in d C. Some

682
00:36:33,440 --> 00:36:35,400
Speaker 1: of the top stories in our nation's camp will include

683
00:36:35,400 --> 00:36:38,320
Speaker 1: President Biden touching on Ukraine, COVID, and the Supreme Court

684
00:36:38,440 --> 00:36:42,040
Speaker 1: in the annual Super Bowl pregame interview, senators accusing the

685
00:36:42,080 --> 00:36:45,560
Speaker 1: CIA of secretly collecting data on US citizens, and the

686
00:36:45,680 --> 00:36:49,560
Speaker 1: US bracing for a possible trucker protest on this side

687
00:36:49,560 --> 00:36:51,760
Speaker 1: of the border by this weekend. Let's bring in Bloomberg

688
00:36:51,800 --> 00:36:55,040
Speaker 1: Government reporter Emily Wilkins on all these stories. So, Emily,

689
00:36:55,080 --> 00:36:58,839
Speaker 1: we've gotten the traditional pregame interview from President Biden ahead

690
00:36:58,840 --> 00:37:01,000
Speaker 1: of the Super Bowl, and when it comes to Ukraine,

691
00:37:01,040 --> 00:37:04,160
Speaker 1: it looks like he's really ramping up the rhetoric here. Yes,

692
00:37:04,440 --> 00:37:06,600
Speaker 1: I mean this is really in line with what President

693
00:37:06,640 --> 00:37:11,040
Speaker 1: Biden has done from the beginning, really painting the situation

694
00:37:11,120 --> 00:37:13,239
Speaker 1: in Ukraine as one that the US is going to

695
00:37:13,239 --> 00:37:17,080
Speaker 1: act aggressively on UH. He urged Americans in Ukraine to

696
00:37:17,200 --> 00:37:21,000
Speaker 1: leave the country immediately, warning that things could quickly. Things

697
00:37:21,000 --> 00:37:25,359
Speaker 1: could go crazy quickly in the region. Um. Right now,

698
00:37:25,800 --> 00:37:28,200
Speaker 1: U S troops are not authorized to go into Ukraine.

699
00:37:28,239 --> 00:37:31,760
Speaker 1: Biden said that that could be a really terrible idea

700
00:37:31,840 --> 00:37:34,600
Speaker 1: because it could lead to Americans and Russians shooting at

701
00:37:34,640 --> 00:37:37,040
Speaker 1: each other. UM. So he's urging people to get out

702
00:37:37,040 --> 00:37:41,359
Speaker 1: now in case the situation deteriorates. And we also heard

703
00:37:41,360 --> 00:37:44,200
Speaker 1: some news from the President on his thinking around the

704
00:37:44,239 --> 00:37:47,560
Speaker 1: Supreme Court selection process masking rules. What else stood out

705
00:37:47,560 --> 00:37:50,040
Speaker 1: to you from this interview? I think you've really hit

706
00:37:50,120 --> 00:37:52,840
Speaker 1: on the big two things, Nathan. I mean, everyone's waiting

707
00:37:52,880 --> 00:37:56,480
Speaker 1: for Biden's Supreme Court nominee. He said he's done a

708
00:37:56,520 --> 00:37:59,759
Speaker 1: deep dive on four potential candidates, and he's really looking

709
00:37:59,800 --> 00:38:03,160
Speaker 1: for someone who can get Republicans support. So we knew

710
00:38:03,200 --> 00:38:06,000
Speaker 1: that that this was already something he was considering. If

711
00:38:06,040 --> 00:38:08,520
Speaker 1: you look at a couple of the candidates, you've actually

712
00:38:08,560 --> 00:38:11,400
Speaker 1: a few of them have already been confirmed for lower

713
00:38:11,719 --> 00:38:16,920
Speaker 1: judicial positions by lawmakers and Republican lawmakers who are currently

714
00:38:16,960 --> 00:38:20,080
Speaker 1: in the Senate and we'll get to vote on this nominee. Uh,

715
00:38:20,080 --> 00:38:23,279
Speaker 1: it's still unclear exactly when there is going to be

716
00:38:23,760 --> 00:38:26,640
Speaker 1: a nominee announced. Um. Certainly they have a little bit

717
00:38:26,680 --> 00:38:30,280
Speaker 1: of time, given that Democrats are currently down one member.

718
00:38:30,640 --> 00:38:33,480
Speaker 1: As a Senator, Ben Ray Lucan covered recovers from a

719
00:38:33,480 --> 00:38:35,440
Speaker 1: stroke in New Mexico. He will be there for the

720
00:38:35,440 --> 00:38:38,480
Speaker 1: next several weeks. And on masking, Biden seem to differ

721
00:38:38,520 --> 00:38:41,040
Speaker 1: a little bit from governors in California and New York

722
00:38:41,160 --> 00:38:45,279
Speaker 1: or easing restrictions. Biden said it was probably premature. He

723
00:38:45,360 --> 00:38:47,280
Speaker 1: did say it was a tough call, but he continued

724
00:38:47,320 --> 00:38:50,759
Speaker 1: to say that this science shows that masks work and

725
00:38:50,840 --> 00:38:54,480
Speaker 1: that they are affected at preventing people from catching and

726
00:38:54,600 --> 00:38:58,160
Speaker 1: spreading covids. The pressent getting pressed it all on inflation

727
00:38:58,239 --> 00:39:01,239
Speaker 1: obviously the issue at the or for the markets, if

728
00:39:01,280 --> 00:39:05,520
Speaker 1: not for voters themselves as they face these rising prices. Absolutely,

729
00:39:05,640 --> 00:39:07,680
Speaker 1: and this has kind of been a tough one for Biden.

730
00:39:07,760 --> 00:39:09,960
Speaker 1: When Lester Holt asked him about it, by then kind

731
00:39:09,960 --> 00:39:12,600
Speaker 1: of called him a wise guy. Uh, certainly not and

732
00:39:12,680 --> 00:39:15,879
Speaker 1: not as an inflammatory language as he used the last

733
00:39:15,920 --> 00:39:18,799
Speaker 1: time a reporter asked him about inflation. But by didn't

734
00:39:18,800 --> 00:39:21,160
Speaker 1: acknowledge that that it's up, that it's an issue. He

735
00:39:21,280 --> 00:39:25,400
Speaker 1: was in Virginia yesterday and he addressed it directly, saying

736
00:39:25,400 --> 00:39:28,680
Speaker 1: that he understood that high gas prices, high food prices,

737
00:39:28,719 --> 00:39:31,600
Speaker 1: those are things that hurt Americans. But he's not backing

738
00:39:31,680 --> 00:39:36,479
Speaker 1: down from continuing to push his social spending and tax plan.

739
00:39:36,880 --> 00:39:39,120
Speaker 1: He noted that in his Build Back Better it did

740
00:39:39,160 --> 00:39:41,759
Speaker 1: include a piece that would allow the government to negotiate

741
00:39:41,840 --> 00:39:44,960
Speaker 1: the price of drugs through Medicare and said that that's

742
00:39:45,000 --> 00:39:46,960
Speaker 1: the way if if the Congress passed a law that

743
00:39:47,000 --> 00:39:49,200
Speaker 1: did that, that's the way that you can reduced prices

744
00:39:49,200 --> 00:39:51,960
Speaker 1: for Americans. Kind of made the same argument with childcare

745
00:39:52,000 --> 00:39:55,200
Speaker 1: and a few other provisions in his bill. So Biden's

746
00:39:55,480 --> 00:39:57,560
Speaker 1: very much aware that inflation is going to be a

747
00:39:57,560 --> 00:40:00,359
Speaker 1: difficult issue. Democrats are aware that says some thing they

748
00:40:00,400 --> 00:40:03,200
Speaker 1: need to address now. Um, But at the same point,

749
00:40:03,239 --> 00:40:05,799
Speaker 1: they haven't given up their idea of passing through a

750
00:40:05,880 --> 00:40:08,279
Speaker 1: larger spending bill. In a last minute here and really

751
00:40:08,280 --> 00:40:10,279
Speaker 1: I want to move on to this story of the

752
00:40:10,320 --> 00:40:14,319
Speaker 1: CIA potentially collecting bulk data on Americans and a couple

753
00:40:14,360 --> 00:40:17,080
Speaker 1: of senators really flagging the spy agency on this what

754
00:40:17,080 --> 00:40:19,600
Speaker 1: don't we know about this program? So we don't know

755
00:40:19,880 --> 00:40:22,480
Speaker 1: a lot so far. There was a report that was

756
00:40:22,520 --> 00:40:25,759
Speaker 1: put out about a year ago really noting that there

757
00:40:25,920 --> 00:40:29,200
Speaker 1: had been sort of this gathering of data and potentially

758
00:40:29,680 --> 00:40:32,680
Speaker 1: data that the CIA collecting that no one knew that

759
00:40:32,760 --> 00:40:35,160
Speaker 1: they were collecting. And so this letter has sort of

760
00:40:35,239 --> 00:40:37,320
Speaker 1: come out of that. Uh We A lot of the

761
00:40:37,400 --> 00:40:40,200
Speaker 1: letter has been redacted, and so we can't really say

762
00:40:40,880 --> 00:40:43,839
Speaker 1: a lot about how much data there is who's being

763
00:40:43,840 --> 00:40:47,200
Speaker 1: collected on. But the fact that it has raised concern

764
00:40:47,400 --> 00:40:51,840
Speaker 1: among these two senators, members of the Senate Intelligence Committee,

765
00:40:52,360 --> 00:40:56,279
Speaker 1: really shows that that there could potentially be uh, some

766
00:40:56,320 --> 00:40:59,160
Speaker 1: red flags going up here on what the CIA is

767
00:40:59,160 --> 00:41:02,279
Speaker 1: collecting and how extensively they are collecting it. Now. It

768
00:41:02,360 --> 00:41:05,319
Speaker 1: certainly raises a lot of eyebrows, if nothing else. Thank

769
00:41:05,360 --> 00:41:08,440
Speaker 1: you as always. Bloomberg Government reporter Emily Wilkins with us

770
00:41:08,480 --> 00:41:10,640
Speaker 1: this morning. You can read more about all these stories

771
00:41:10,760 --> 00:41:13,560
Speaker 1: on Bloomberg dot com or on the Bloomberg terminal. Follow

772
00:41:13,640 --> 00:41:17,520
Speaker 1: the latest on Bloomberg Radio in Washington at Bloomberg and

773
00:41:17,520 --> 00:41:21,439
Speaker 1: one oh five point seven FM HD two. Karen, Thanks Nathan.

774
00:41:21,480 --> 00:41:23,400
Speaker 1: It is six fifty six on Walla Street. This is

775
00:41:23,400 --> 00:41:26,839
Speaker 1: Bloomberg day Break. February is Black History Month, and every

776
00:41:26,920 --> 00:41:30,440
Speaker 1: day this month we're celebrating significant moments in US black history.

777
00:41:30,800 --> 00:41:34,560
Speaker 1: And now with your installment for February eleven, here's Bloomberg's

778
00:41:34,560 --> 00:41:38,840
Speaker 1: Renny too Young. On this day in Black history, Nelson

779
00:41:38,880 --> 00:41:42,880
Speaker 1: Mandela was released from prison after twenty seven years behind bars.

780
00:41:43,360 --> 00:41:46,160
Speaker 1: It was a key event in ending South Africa's brutal

781
00:41:46,160 --> 00:41:50,480
Speaker 1: apartheide system of racial oppression. Tens of thousands of supporters

782
00:41:50,560 --> 00:41:52,800
Speaker 1: cheered on Mandela as he walked out of the prison

783
00:41:52,880 --> 00:41:56,479
Speaker 1: gates that day. After his release from prison, Mandela would

784
00:41:56,480 --> 00:42:00,520
Speaker 1: be elected President of the African National Congress. He continue

785
00:42:00,560 --> 00:42:04,160
Speaker 1: to lobby for the complete disillusion of apartheid. So later

786
00:42:04,239 --> 00:42:08,920
Speaker 1: on in the anti apartheid activist, lawyer and former political

787
00:42:08,920 --> 00:42:14,919
Speaker 1: prisoner was elected Presidents of South Africa, ruling until that's

788
00:42:14,960 --> 00:42:18,280
Speaker 1: today in Black history. I'm renied to Young. Bloomberg Radio

789
00:42:18,640 --> 00:42:21,000
Speaker 1: sright grened to thank you watching under armour and early

790
00:42:21,080 --> 00:42:23,360
Speaker 1: trading right now up six and a half percent, but

791
00:42:23,400 --> 00:42:25,200
Speaker 1: it's been jumping around. It was up as much as

792
00:42:25,200 --> 00:42:28,520
Speaker 1: eight percent just seconds ago. It's reporting earnings that are

793
00:42:28,520 --> 00:42:32,440
Speaker 1: crossing the Bloomberg fourth quarter profit beating analysts estimates more

794
00:42:32,480 --> 00:42:35,920
Speaker 1: than twice what analysts were looking for. SMP futures lower

795
00:42:36,000 --> 00:42:38,279
Speaker 1: down twenty four points to down futures down one hundred

796
00:42:38,360 --> 00:42:41,239
Speaker 1: fifty one and Nasdaq futures down one hundred seven And

797
00:42:41,280 --> 00:42:45,880
Speaker 1: Bloomberg surveillance is straight ahead. For Nathan Hagar, I'm Karen Moscow,

798
00:42:45,960 --> 00:42:47,440
Speaker 1: and this is Bloomberg