Speaker 1: Broadcasting live to New York, Bloomberg eleventh Rio to Washington,
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Speaker 1: This is Bloomberg Surveillance. It is a thirty on Wall
Speaker 1: Street and Michael McKee along with Tom Keener Economic Indicators
Speaker 1: Today brought to you by Commonwealth Financial Network. When it's
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Speaker 1: Here's Vinedale Judais at the First Word Desk, Michael Economic
Speaker 1: News jobless claims they are up by six thousand a
Speaker 1: two hundred seventy eight thousand topping forecast. Revised data on
Speaker 1: fourth quarter productivity, meantime down two point two percent less
Speaker 1: than forecast, unt labor costs up three point three percent again,
Speaker 1: jobless claims rising last week up by six thousand to
Speaker 1: seventy eight thousand. At the First Work Desk, I'm vide
Speaker 1: de junice. Let's go back to New York Videl junk Uh. Well,
Speaker 1: I don't know whether you call a move from a
Speaker 1: negative three percent, a three percent contraction in productivity to
Speaker 1: a two point two percent contraction is good news or not.
Speaker 1: I suppose on a relative thesis, but the unit labor
Speaker 1: costs jop three point three percent is catch people's eye.
Speaker 1: Can you adjust the mic of our next steam guest?
Speaker 1: He is um, he's been he's been searching for something
Speaker 1: to do, moving into spring and summer in onto Cleveland
Speaker 1: and Philadelphia. Maybe we could get him to be the
Speaker 1: GOP SR. I mean, I mean, I think there's a
Speaker 1: job opportunity. I don't. I don't think I'm qualified, but
Speaker 1: they definitely need somebody go ahead. Where we're watching what's
Speaker 1: going on with fascination and wondering. Were talking over the
Speaker 1: last two days while we were done in Washington about
Speaker 1: how Wall Street is seeing all this, I mean, leaving
Speaker 1: aside individual candidates, but the fracturing of one party, um,
Speaker 1: the move to the left uh and in the other party, UM,
Speaker 1: the people with the money and a lot at stake,
Speaker 1: how they're viewing all of this at this point I
Speaker 1: think with fear, in trepidation, I think people on Wall Street.
Speaker 1: People on Wall Street are basically not that ideological in
Speaker 1: many ways. They have, you know, they have a point
Speaker 1: of view, they have they may belong to a party,
Speaker 1: but they're not extremists. They're kind of pragmatists. They're kind
Speaker 1: of centrists, a bit like the majority owner of Bloomberg LP.
Speaker 1: And there's our there's our Disclaimers radio station, uh and
Speaker 1: and so they view all this with alarm. They they
Speaker 1: you know, in an extreme case, they worry that we
Speaker 1: could go off the deep end into into some unknown
Speaker 1: political area, the way countries in Europe have from time
Speaker 1: to time. And even short of that, they worry about about,
Speaker 1: you know, who's going to be in the White House.
Speaker 1: Mr Trump enjoys, as far as I can tell, zero
Speaker 1: support on Wall Street. I don't know anybody in the
Speaker 1: business community, but I shouldn't say anybody, but virtually nobody
Speaker 1: in the business can be supporting him for any number
Speaker 1: of reasons. I think on the Democratic side, things have
Speaker 1: gotten a bit what I would call better, in that
Speaker 1: I think Hillary Clinton's path to the nomination is now
Speaker 1: quite clear, and so while she may have moved a
Speaker 1: bit to the left during this primary season, I think
Speaker 1: I don't think we're gonna have a socialist as the
Speaker 1: Democratic nominee. But Steve, right now, that's the issue. You
Speaker 1: nail it. Absolutely. People shift through an election year. Do
Speaker 1: you see any perception that any of the three Republican
Speaker 1: front runners right now can shift as Raygan did, to
Speaker 1: the middle of this nation's psychology. I would say, I
Speaker 1: would say, I think I think it's possible that Rubio
Speaker 1: can and and I don't know whether this is a
Speaker 1: backhanded compliment, but I think he's shown that he is,
Speaker 1: how shall I put it, flexible in his opinions, pragmatic
Speaker 1: on immigration. As you know, he's had a variety of
Speaker 1: opinions on choice, He's had a variety of pro choice, choice,
Speaker 1: choice versus life issues. He's had a variety of opinions.
Speaker 1: So I think he is capable of moving. Ted Cruiz
Speaker 1: is a complete extreme idealogue who in some ways would
Speaker 1: be worse for the Republican Party I think in a
Speaker 1: general election than Trump, and Trump has Trump has deep
Speaker 1: psychological problems that make him really unfit to were a
Speaker 1: student of our history on this, I think of William Jennings,
Speaker 1: Bryan or any of the other movements coalescing eight forward
Speaker 1: coming out of the civil or the word the last
Speaker 1: few days has been movement. If it is a movement
Speaker 1: that Mr Trump is affecting, how to institutions staunch that
Speaker 1: movement so it doesn't get over thirty x percent of
Speaker 1: the electorate in the long run. This is what I'm
Speaker 1: about to say. Has been discussed many times, but but
Speaker 1: what seems very clear to all of us is that
Speaker 1: Trump represents a group of Americans who have not done
Speaker 1: well economically over the last five, ten, fifteen, twenty years,
Speaker 1: who feel marginalized, who therefore feel threatened by immigrants and
Speaker 1: things like that, and makes them more nativists. And the
Speaker 1: way to deal with this is not there's no short
Speaker 1: term fix. The way to deal with this in the
Speaker 1: long term is to take care of these people and
Speaker 1: find them jobs, help them with increase their incomes, and
Speaker 1: give them a better life. That's really what that's really
Speaker 1: what's bothering them? Why are we doing When you look
Speaker 1: at the markets, there doesn't seem to be any reflection
Speaker 1: of horror in what's been going on at the in
Speaker 1: the stock market versus what's going on in the campaign trail.
Speaker 1: Investors have to discount the future even as they look
Speaker 1: at this and the negatives that you're sighting with these candidates,
Speaker 1: is their a view as they game things out, that yes,
Speaker 1: these people may get elected, but the way the American
Speaker 1: system works, not much terrible is going to happen. I
Speaker 1: think there's a few things are going First of all,
Speaker 1: I think that, uh, the probability of any one candidate
Speaker 1: getting elected is obviously not even because you still have
Speaker 1: primaries going on. Then you have a general election, and
Speaker 1: so if you started doing probability math, I think you'd
Speaker 1: calculate that the chance of Trump being elected are maybe
Speaker 1: twenty or between having to get nominated and then having
Speaker 1: to get past Hillary Clinton. I think the market probably
Speaker 1: today we guess that Hillary Clinton is going to be
Speaker 1: the next president, and I don't know that that's that threatening. Yes,
Speaker 1: she has some different ideas, but she's a sensible, rational person.
Speaker 1: But I think the other thing you alluded to that
Speaker 1: the market is relying on is the gridlock in Washington
Speaker 1: and the fact that it's unlikely that no matter who
Speaker 1: gets elected, there's gonna be some massive policy shift. Uh.
Speaker 1: Getting from Congress, Steve Redner, thank you so much. And
Speaker 1: then Governor Romney you can speaking. This will be cover
Speaker 1: Michael Barrow have full coverage of this UH through the
Speaker 1: morning and into the afternoon. Is well onto Michigan and
Speaker 1: then onto Florida. Look for the announcement of the ratners.
Speaker 1: Gops are coming from the White House sometime in the
Speaker 1: near in the near future. Futures negative to down, futures
Speaker 1: negative ten UH West Texas thirty four barrel. Let's spring
Speaker 1: in Michael bar and get the latest news. Like Mike
Speaker 1: tom thank you very much. Former Republican presidential nominee mid
Speaker 1: Romney plans to deliver some strong words against Donald Trump.
Speaker 1: Romney plans to call Trump in a speech later today
Speaker 1: a phony and a fraud. The former Massachusetts governor says
Speaker 1: Trump is playing the American public for suckers. The excerpts
Speaker 1: are from the speech Romney plans to give later today
Speaker 1: at the University of Utah in the bids who dis
Speaker 1: launched Trump from the top of the Republican Party's presidential race. Meanwhile,
Speaker 1: Trump fired back on ABC. Trump called Romney a failed
Speaker 1: candidate and should have beaten Barack Obama. Millions of people
Speaker 1: are joining the Republican Party because of me, and you
Speaker 1: know what the republic establishment. Republican Establishment's probably going to
Speaker 1: give it right back and go back to the old
Speaker 1: days of Mitt Romney, who couldn't win. Trump will take
Speaker 1: part in tonight's Republican presidential debate on Fox News. Only
Speaker 1: four podiums will be on the stage tonight for the
Speaker 1: debate in Detroit. Ben Carson issued a statement yesterday saying
Speaker 1: he does not see a political path forward and will
Speaker 1: be on No Show. South Korean officials say North Korea
Speaker 1: fired six short range projectiles into the sea off its
Speaker 1: east coast today. The launches came hours after the UN
Speaker 1: Security Council approved tough sanctions on pyong Yang for its
Speaker 1: recent nuclear tests. Global News twenty four hours a day,
Speaker 1: powered by our journalists more than a hundred fifty news
Speaker 1: bureaus from around the world. I Michael Barn, Mike Tom,
Speaker 1: Thank you Michael all the time. Now for the Bloomberg
Speaker 1: NBC sports update. Here's johns Teshi my greater that the
Speaker 1: flake gate is back. Oral arguments today in New York
Speaker 1: as the NFL appeals to a three judge panel. It's
Speaker 1: lost last year in district corps. If balls were deflated,
Speaker 1: and if so, how not really the issue here, the
Speaker 1: NFL will argue Commissioner Roger Goodell had the collectively bargained
Speaker 1: right to suspend Tom Brady for four games. The Union
Speaker 1: will contend the NFL made mistakes in its application. Neither
Speaker 1: Goodell or Brady will be in court, and decision could
Speaker 1: be many months away. The Yankees exhibition opener in Tampa
Speaker 1: was a wild one. Yankster down seven nothing ended up
Speaker 1: winning ten to nine in a drop fly ball in
Speaker 1: the ninth inning. Manitor Joe Girardi was asked about the
Speaker 1: month long suspension just given to his new closure or
Speaker 1: old As Chapman for domestic violence and use of a firearm.
Speaker 1: The thing to do when you have issues like this
Speaker 1: is to learn from him and try to be there
Speaker 1: for people. And I think he's ready to move on.
Speaker 1: And then he took responsibility for what happened, and he
Speaker 1: wants to be better as a as a player and
Speaker 1: a person. Chapman could pitch in spring training, but now
Speaker 1: in the regular season until May ninth. Yankees and Phillies
Speaker 1: today and the Mets opened up with the Nationals March
Speaker 1: Madness Conference tournaments underway in the Northeast Winds for l
Speaker 1: I youth fairly Dickinson and the top scene Wagner St.
Speaker 1: Francis was nounsday in America East top seed stony Brook
Speaker 1: moves on and gets help when second seed and three
Speaker 1: times defending lenk jamp All, but he got upset. Seaton
Speaker 1: All's four game Winsbay came to an end at butler
Speaker 1: Fordham beat Ducane. Rutgers still winless in the Big Ten,
Speaker 1: had to play second rank Michigan State and lost by
Speaker 1: thirty one. With the Bloomberg game, be some sports update,
Speaker 1: I'm John Stash John, thanks so much. A future is
Speaker 1: thinking of two deaf futures at negative thirteen again a
Speaker 1: churn all in all to the market. You really gotta
Speaker 1: believe we're slotted into a job's day move. As we
Speaker 1: moved to eight thirty tomorrow morning, Alan Krueger and Bill
Speaker 1: Gross will join us UH to review that data. I've
Speaker 1: got to scroll down here to get to a thousand
Speaker 1: is the final sample. We make it a tick on
Speaker 1: that here as we get to tomorrow, U with the
Speaker 1: unemployment rates similar four point nine per cent. Michael McKee
Speaker 1: and Tom Keene coast to coast worldwide Bloomberg surveillance Blieberg
Speaker 1: surveillance is brought to you by NYCB as about their
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