WEBVTT - Bloomberg Daybreak: October 5, 2022 - Hour 2 (Radio) 0:00:01.680 --> 0:00:04.400 Life from the Bloomberg in director Berger Studios. This is 0:00:04.400 --> 0:00:08.680 Bloomberg day Break for Wednesday, October two. Coming up the shower, 0:00:08.880 --> 0:00:11.760 Elon must agrees to buy Twitter. It provides a glimpse 0:00:11.760 --> 0:00:14.240 of his plans for the social media network. Liz Truss 0:00:14.240 --> 0:00:16.840 addresses her party as the Prime Minister works to get 0:00:16.840 --> 0:00:19.840 her economic agenda back on track and the Fed won't 0:00:19.920 --> 0:00:23.560 let up official signal no plans to slow interest rate heights. 0:00:23.680 --> 0:00:26.360 New York City authorities and the d e A announced 0:00:26.400 --> 0:00:29.920 a big bust of rainbow fentamil plus. President Biden heads 0:00:29.960 --> 0:00:32.839 to Florida today to look at Hurricane A inststruction. I'm 0:00:32.880 --> 0:00:37.000 Michael blar more An, I'm John Stashower and sports baseball history. 0:00:37.040 --> 0:00:40.040 Aeron Judge, in his record breaking sixty second over on 0:00:40.120 --> 0:00:45.360 the Atlanta Braves, clints the l E that's all's trading 0:00:45.440 --> 0:00:48.720 head on Bloomberg day Break on Bloomberg eleven three on 0:00:48.840 --> 0:00:53.279 New York, Bloomberg one, Washington d C, Bloomberg one oh 0:00:53.320 --> 0:00:57.840 six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x 0:00:58.040 --> 0:01:00.880 M one nineteen and around the world Old on Bloomberg 0:01:00.960 --> 0:01:08.000 Radio dot Com and via the Bloomberg Business App. Good morning, 0:01:08.040 --> 0:01:11.200 I'm Kared Moscow. I'm Nathan Haygar. Bloomberg Daybreak is brought 0:01:11.240 --> 0:01:14.160 to you by s E. I imagine your asset management 0:01:14.160 --> 0:01:17.800 firms operational infrastructure as a competitive advantage. Let se I 0:01:17.880 --> 0:01:20.840 show you how at se I C dot Com, slash, 0:01:20.920 --> 0:01:24.000 I m S and us sucket Next futures are lower 0:01:24.040 --> 0:01:26.160 this morning six oh one on Wall Street. We check 0:01:26.200 --> 0:01:28.600 the markets every fifteen minutes throughout the trading day. On 0:01:28.680 --> 0:01:31.679 Bloomberg s and P futures down thirty six points down, 0:01:31.680 --> 0:01:35.120 Future is down two and NASDACK futures down one hundred ten. 0:01:35.160 --> 0:01:38.080 The ten year treasury down seventeen thirty seconds. He had 0:01:38.120 --> 0:01:40.440 three point seven zero percent, and they yield on the 0:01:40.440 --> 0:01:43.480 two year four point one two percent. Nathan Karen, We'll 0:01:43.480 --> 0:01:45.440 get back to markets in a moment, but we begin 0:01:45.560 --> 0:01:48.680 with Elon Musk reviving his bid to buy Twitter. He 0:01:48.720 --> 0:01:51.279 will make the acquisition at the original price of fifty 0:01:51.280 --> 0:01:54.360 four dollars twenty cents is share. Now, attention turns to 0:01:54.400 --> 0:01:56.760 the path ahead for Musk and Twitter. Ross Gerber with 0:01:56.800 --> 0:01:59.800 Gerber Kawasaki says the world's richest man could be in 0:01:59.800 --> 0:02:02.680 for a bumpy ride. He's paying the highest price possible. 0:02:02.760 --> 0:02:05.280 He's trying to get dead at the worst time possible. 0:02:05.680 --> 0:02:08.640 He's basically being forced to buy this company. It's not 0:02:08.680 --> 0:02:10.440 like he changed the heart. I think his lawyers just 0:02:10.480 --> 0:02:12.680 told him he was gonna lose. This is a mess. 0:02:13.000 --> 0:02:15.720 Ross Gerber with Gerber Kalasaki says Musk is acquiring the 0:02:15.720 --> 0:02:18.880 company with employee morale at an all time low. Twitter 0:02:18.960 --> 0:02:22.720 shares close higher yesterday, and Tesla shares rose on the 0:02:22.760 --> 0:02:25.720 news as well. They climbed nearly three percent this morning, 0:02:25.720 --> 0:02:28.000 though Tesla is down about one and a quarter percent. 0:02:28.440 --> 0:02:31.160 Attorney to the broader markets now, nathan Us futures are 0:02:31.200 --> 0:02:34.080 lower following two days of gains. Optimism for a so 0:02:34.160 --> 0:02:38.000 called FED pivot maybe waning. Phil Palumbo, CEO with Palumbo 0:02:38.040 --> 0:02:40.520 Wealth Management, says this week's gains are likely a bear 0:02:40.600 --> 0:02:42.839 market rally to reduce some of the wrist wood ball. 0:02:43.320 --> 0:02:46.200 We've been investing in cash right now, and we're taking 0:02:46.240 --> 0:02:48.760 advantage of all too. As we're in this bear market 0:02:48.800 --> 0:02:51.120 and as we believe things will get worse. Will put 0:02:51.120 --> 0:02:54.000 those Moneys to work in good quality businesses as long 0:02:54.120 --> 0:02:57.640 term investors. NFL Palumbo with Palumbo Wealth Management says he 0:02:57.680 --> 0:03:00.320 expects inflation to fall from here, but he also predicts 0:03:00.360 --> 0:03:03.560 the volatility will continue well. This morning's dropping futures Karen 0:03:03.600 --> 0:03:06.519 follows hawk is rhetoric from more central bank officials. FED 0:03:06.520 --> 0:03:10.080 Governor Philip Jefferson says reducing inflation will likely require a 0:03:10.080 --> 0:03:13.040 period of weak growth to ease demand. Also speaking yesterday, 0:03:13.120 --> 0:03:16.360 San Francisco Fed President Mary Daily, she calls inflation a 0:03:16.360 --> 0:03:20.160 corrosive disease. Right now. The pain that I hear every day, 0:03:20.200 --> 0:03:22.720 the suffering that people tell me they're going through, is 0:03:23.000 --> 0:03:25.320 on the inflation side. And this is true of low 0:03:25.360 --> 0:03:28.600 and moderate income people, not just people who are worried 0:03:28.639 --> 0:03:32.000 that inflation expectations will draft. They're worried about their day 0:03:32.000 --> 0:03:34.160 to day living. And stay tuned for more from San 0:03:34.160 --> 0:03:37.160 Francisco Fed President Mary Daily later this morning. We'll sit 0:03:37.200 --> 0:03:39.600 down with her for an interview live on Bloomberg Radio 0:03:39.600 --> 0:03:43.120 and Television at ten fifteen Wall Street Time. Well overnight 0:03:43.160 --> 0:03:46.000 saw stocks and Asia rally for a second straight day. 0:03:46.080 --> 0:03:49.160 Nathan traders are betting that the global monetary policy tightening 0:03:49.160 --> 0:03:52.080 cycle will soon ease, and Bloomberg's Juliette Sally joins us 0:03:52.080 --> 0:03:55.320 from Singapore with the latest Good Morning, Juliet, Good Morning Parent. 0:03:55.360 --> 0:03:57.600 The regional Benchmark Index climbed as much as one point 0:03:57.640 --> 0:04:00.360 eight percent, led by a surgeon, consumer discustionary and tech 0:04:00.400 --> 0:04:03.400 stocks like t SMC and Ali Barber, and that brought 0:04:03.400 --> 0:04:05.840 the measures two day rally to more than a four percent, 0:04:06.080 --> 0:04:08.720 the best two day games since March. Stocks in Hong 0:04:08.800 --> 0:04:11.880 Kong the region's best performers, the Benchmark Hang Sang Index 0:04:11.960 --> 0:04:15.200 jumping more than five Percenters trading resumed following a holiday, 0:04:15.360 --> 0:04:17.359 and the Kiwi In New Zealand, bonds rallied as the 0:04:17.360 --> 0:04:20.800 ABENZ followed up with yet another fifty basis point hike, 0:04:21.120 --> 0:04:26.080 the fifth in a row in Singapore. Juliette Sally Bloomberg Daybreak, Juliet, Thanks, 0:04:26.160 --> 0:04:28.920 Let's turn to Europe now, where it's all about UK politics. 0:04:29.080 --> 0:04:31.520 Prime Minister Liz Trust is delivering a speech at the 0:04:31.560 --> 0:04:35.920 annual Tory Conference in Birmingham aimed at reviving her beleaguered premiership. 0:04:36.040 --> 0:04:38.800 Bloomberg's James Willcock is there and joins us with the 0:04:38.880 --> 0:04:41.600 very latest Good Morning, James, Good Morning, Karen and Nathan. 0:04:41.760 --> 0:04:45.840 Liz Trust's honeymoon is over now after humiliating U turn 0:04:45.920 --> 0:04:48.920 and market chaos. She needs to prove to the Conservative 0:04:48.920 --> 0:04:51.479 party that elected her only a month ago that she 0:04:51.520 --> 0:04:54.839 can actually lead the government. She acknowledge that's struggled in 0:04:54.880 --> 0:04:58.360 her speech, saying wherever there is change, there is disruption. 0:04:58.640 --> 0:05:01.120 But even ahead of that speech, divisions in her party 0:05:01.120 --> 0:05:03.680 are coming to light. Even members of the Prime Minister's 0:05:03.720 --> 0:05:06.920 top team are in open disagreement over what to do next. 0:05:07.000 --> 0:05:10.200 In Birmingham, I'm James Wilcock, Bloomberg Daybreak. All right, James, 0:05:10.200 --> 0:05:12.479 thank you to politics here in the US now, where 0:05:12.480 --> 0:05:15.080 Donald Trump is back in focus. The former president is 0:05:15.120 --> 0:05:18.039 asking the Supreme Court to let a court appointed special 0:05:18.040 --> 0:05:21.920 master review classified documents sees from his Mara Lago home. 0:05:22.200 --> 0:05:25.480 To move escalates the Justice Department's investigation into whether Trump 0:05:25.560 --> 0:05:28.280 or his aids illegally took sensitive government records when he 0:05:28.360 --> 0:05:31.880 left office and obstructed repeated efforts to recover them. In 0:05:31.960 --> 0:05:34.559 New York, here and we got word. Micron Technology plans 0:05:34.600 --> 0:05:36.880 to invest as much as a hundred billion dollars over 0:05:36.920 --> 0:05:39.640 the next twenty years to build a factory in the state. 0:05:39.760 --> 0:05:42.479 It's the latest bid to boost US production of memory chips. 0:05:42.640 --> 0:05:45.000 Governor Kathy HOCl says it will create about fifty tho 0:05:45.320 --> 0:05:47.520 jobs in New York State. We believe that this is 0:05:47.560 --> 0:05:49.719 going to be a catalyst not just for this company 0:05:49.760 --> 0:05:53.120 and jobs to come here, but also the supply chain companies. 0:05:53.120 --> 0:05:55.600 It will say, you know, I don't want to manufacture overseas. 0:05:55.640 --> 0:05:59.440 There's so many disruptions. New York Governor Kathy HOCl spoke 0:05:59.480 --> 0:06:02.159 with David Ston on Bloomberg's Balance of Power. Catch the 0:06:02.160 --> 0:06:05.640 program weekdays at noon on Bloomberg Radio and television. Well 0:06:05.680 --> 0:06:08.599 turning to corporate news now, Nathan Amazon is pausing hiring 0:06:08.720 --> 0:06:11.599 for corporate positions and its retail business. It's the latest 0:06:11.600 --> 0:06:15.240 sign that Amazon is adjusting its workforce to slowing online sales. 0:06:15.520 --> 0:06:18.040 Sources say the company will pause recruitment until the end 0:06:18.040 --> 0:06:20.080 of the year. The priest does not apply to its 0:06:20.080 --> 0:06:23.640 warehouse network, where most of its employees work and Karen's 0:06:23.680 --> 0:06:27.240 E cigarette manufacturer Jewel has begun talks for funding for 0:06:27.360 --> 0:06:30.960 potential Chapter eleven bankruptcy. That's according to people with knowledge 0:06:30.960 --> 0:06:34.039 of the preparations. They say it's not final. Plans could change. 0:06:34.360 --> 0:06:37.440 A Jewel spokesman says the company is still considering other 0:06:37.520 --> 0:06:41.719 avenues and right now SMP futures are down thirty three points. 0:06:41.720 --> 0:06:44.200 Staff futures are lower by two hundred seventy three. NASTACK 0:06:44.279 --> 0:06:48.560 futures onto decline by one one points. The tenure treasury 0:06:48.600 --> 0:06:51.240 is down fifteen thirty seconds. You'll three point six nine percent. 0:06:51.320 --> 0:06:53.840 You'ld on the two year four point one two. Nimex 0:06:53.920 --> 0:06:56.040 cruds down to tenth per cent or eleven cents at 0:06:56.040 --> 0:06:59.120 eighty six dollars forty one cents a barrel. Coomas gold 0:06:59.360 --> 0:07:02.520 is low were by eight tenths percent at seventeen sixteen 0:07:02.640 --> 0:07:06.640 sixty announced. The euro point nine against the dollar, the 0:07:06.640 --> 0:07:08.680 pound one point one three one. The yen is at 0:07:08.720 --> 0:07:14.360 one point four nine Bitcoin trading around twenty thousand one dollars. 0:07:14.360 --> 0:07:17.200 Straight ahead your latest local headlines and a check of sports. 0:07:17.640 --> 0:07:25.040 This is Bloomberg and it's now six oh seven on 0:07:25.080 --> 0:07:27.720 Wall Street, fifty six degrees of brain in Central Park, 0:07:27.760 --> 0:07:30.760 still dealing with big problems Route eighty getting through Patterson. 0:07:30.800 --> 0:07:33.200 This morning, Michael Barr has more on what's going on 0:07:33.240 --> 0:07:35.120 in New York and around the world. Good morning, Might call, 0:07:35.240 --> 0:07:37.560 Good morning Nathan. The New York Division of the Drug 0:07:37.680 --> 0:07:41.320 Enforcement Administration and local law enforcement say they've made a 0:07:41.360 --> 0:07:46.160 significant seizure of Rainbow fentonil in Manhattan. The seizure of 0:07:46.200 --> 0:07:49.800 nearly fifteen thousand pills happened on September twenty eight, when 0:07:49.800 --> 0:07:52.520 a vehicle under surveillance by the d e A was 0:07:52.600 --> 0:07:56.800 stock outside the Lincoln Tunnel. Bridget Brennan is New York 0:07:56.840 --> 0:08:01.800 City Special Narcotics Prosecutor. They approached there and found Letitia 0:08:01.840 --> 0:08:05.880 Bush in the rear seat with two black tote bags 0:08:05.920 --> 0:08:10.800 and a yellow Lego container. Right there inside the Lego 0:08:10.880 --> 0:08:15.440 container were several brick shaped packages covered in black tape 0:08:15.640 --> 0:08:19.520 line next to lego blocks. Prosecutor Brennan says, Bush was 0:08:19.640 --> 0:08:23.160 arrested d e A Special Agent in charge, Frank Tarantino, 0:08:23.600 --> 0:08:28.600 this is deliberate, This is calculated. This is treacherous deception 0:08:29.920 --> 0:08:35.439 to market Rainbow fenanel like candy. Frank Tarantino with the 0:08:35.520 --> 0:08:39.240 d e A says, with Halloween approaching, these newly packaged 0:08:39.280 --> 0:08:43.439 poisons our parents worst nightmare. Mourners will say their final 0:08:43.480 --> 0:08:46.240 goodbyes to an f d N y E M S Lieutenant. 0:08:46.640 --> 0:08:49.760 Funeral services take place today for Alice and Russo Elling 0:08:49.880 --> 0:08:52.880 and Brookville. She was fatally stabbed last week in an 0:08:52.960 --> 0:08:56.559 unprovoked attack. The f d n Y says Russo Elling, 0:08:56.679 --> 0:09:00.760 who was sixty one, will be posthumously promoted to captain today. 0:09:00.960 --> 0:09:03.360 President Biden will had to Florida today to meet with 0:09:03.440 --> 0:09:07.920 Governor Ron Descantis. Days after hurricaney and pounded Florida Southwest, 0:09:08.240 --> 0:09:12.080 crews are still conducting door to door searches for survivors. 0:09:12.440 --> 0:09:18.640 Fort Myers Beach Mayor Ray Murphy nobody was spared this storm. 0:09:18.640 --> 0:09:21.680 Every structure on the island was a second. Mayor Murphy 0:09:21.720 --> 0:09:24.840 says the city will rebuild. President Joe Biden will be 0:09:24.880 --> 0:09:27.959 in New York State tomorrow. The President heads to a 0:09:28.080 --> 0:09:31.640 jobs event hosted by IBM and a pair of fundraisers 0:09:31.679 --> 0:09:35.120 ahead of the November midterm elections. A White House officials 0:09:35.120 --> 0:09:37.480 says the trip will include a visit to the IBM 0:09:37.520 --> 0:09:40.800 campus in Poughkeepsie. Biden is later expected to travel to 0:09:40.840 --> 0:09:44.800 New Jersey for a fundraiser hosted by the Democratic National Committee. 0:09:45.160 --> 0:09:48.040 Gas prices can rise again on expectations of a large 0:09:48.040 --> 0:09:50.760 cut and crew to oil production from the OPEC arctel. 0:09:51.280 --> 0:09:53.959 It meets today Global News twenty four hours a day 0:09:54.040 --> 0:09:56.480 on air and on Bloomberg Quicktake powered by more than 0:09:56.800 --> 0:09:59.319 seven hundred journalists and analysts and more than a hundred 0:09:59.360 --> 0:10:02.160 twenty country He's I'm Michael bar This is Bloomberg, Nathan. 0:10:02.280 --> 0:10:09.480 Thank you, Michael. Coming up to six ten on Wall 0:10:09.520 --> 0:10:12.520 Street time for the Bloomberg Sports Update. Aaron Judges in 0:10:12.559 --> 0:10:15.360 the record books, John Stash, Are you know, Nathan? They've 0:10:15.400 --> 0:10:17.400 been playing baseball in the American League for a hundred 0:10:17.400 --> 0:10:20.079 and twenty years. The three most home runs hit a 0:10:20.120 --> 0:10:23.160 single season all by Yankee outfielder's the sixty hit by 0:10:23.200 --> 0:10:27.320 Babe Ruth, seven sixty one hit by Rodgermaris nineteen sixty 0:10:27.400 --> 0:10:31.479 one and now sixty one years after that move over Rogermars. 0:10:31.520 --> 0:10:34.000 Aaron Judge let off the second game of a double 0:10:34.040 --> 0:10:37.719 header and texts the one one swing on there it 0:10:37.800 --> 0:10:41.320 goes tap blood that is hot. Hut us far hut 0:10:41.480 --> 0:10:47.520 us come number sixty two to set the new American 0:10:47.720 --> 0:10:53.520 League records. Aaron Judge hits his sixty second all the 0:10:53.600 --> 0:10:56.920 Yankees out of the dugout to greenhand f Ana had 0:10:56.960 --> 0:10:59.720 the call. It came off the Rangers. Hey SEUs Tonoko 0:10:59.880 --> 0:11:01.920 is third pitch of the game, a slider that Judge 0:11:01.960 --> 0:11:03.800 hit to the left field stands. It was caught there 0:11:04.360 --> 0:11:07.280 by guys, apparently a wealthy banker, and so far anyway, 0:11:07.320 --> 0:11:10.520 holding onto the ball judges season has been amazing, twenty 0:11:10.559 --> 0:11:12.480 three more home runs than anyone else in the league, 0:11:12.480 --> 0:11:15.880 only forty four fewer home runs in the entire Detroit Tigers. 0:11:15.880 --> 0:11:17.600 And oh, by the way, he's gonna be a free 0:11:17.640 --> 0:11:20.640 agent after the season. The Yankees split the double header. 0:11:20.640 --> 0:11:23.000 They learned their opponent in the division series will be 0:11:23.000 --> 0:11:25.880 the winner of the Wild Cards series between Cleveland and 0:11:25.960 --> 0:11:28.520 Tampa Bay. The Mets learned their opponent in their wild 0:11:28.520 --> 0:11:30.520 Card series this weekend in City Field will be the 0:11:30.559 --> 0:11:33.760 San Diego Padres. Met swept the double header from Washington, 0:11:33.800 --> 0:11:35.720 but Atlanta clints the NL East with a win in 0:11:35.760 --> 0:11:38.680 Miami preseason NBA and next meet the Pistons of the Guard. 0:11:38.720 --> 0:11:41.280 The Islanders have locked up Matthew Barzel new eight year, 0:11:41.720 --> 0:11:45.000 seventy three million dollar contract, John Stashy Howard Bloomberg Sports, 0:11:45.080 --> 0:11:47.960 Nathan Okay, John, thank you, s ANDP Futures down thirty 0:11:47.960 --> 0:11:50.319 four points down. Futures down tune to eighty six. Dance 0:11:50.400 --> 0:11:52.400 dex futures are lower by a hundred four points. The 0:11:52.400 --> 0:11:55.679 British pounded one point one three eight three against the dollar. 0:11:56.040 --> 0:11:59.280 As UK Prime Minister Liz Trust begins to speak to 0:11:59.480 --> 0:12:02.040 her concern Servative conference. We check in live next in 0:12:02.200 --> 0:12:08.760 Birmingham with Bloomberg's James Woolcock Bloomberg eleventh three oh weather. 0:12:08.840 --> 0:12:11.160 This rain will taper off, the afternoon showers to clear out. 0:12:11.160 --> 0:12:13.240 By this evening we'll get up to around sixty degrees 0:12:13.520 --> 0:12:17.320 clearing milder tomorrow, low seventies, sunny, low seventies for Friday 0:12:17.400 --> 0:12:23.360 right now fifties six in Central Park. Markets, headlines and 0:12:23.480 --> 0:12:26.760 breaking news twenty four hours a day at Bloomberg dot Com, 0:12:26.880 --> 0:12:30.440 the Bloomberg Business at and at Bloomberg Quicktake. This is 0:12:30.440 --> 0:12:39.720 a Bloomberg Business Flash, and I'm Karen Moscow. US stock 0:12:39.800 --> 0:12:43.600 index futures and European shares are falling as investors scaled 0:12:43.600 --> 0:12:46.280 down their optimism for less hankish central banks and seek 0:12:46.320 --> 0:12:49.320 more evidence that inflation is moderating. We check the markets 0:12:49.320 --> 0:12:51.839 every fifteen minutes so out the trading day on Bloomberg 0:12:51.840 --> 0:12:54.600 Guess and P futures down thirty seven points down, Future 0:12:54.640 --> 0:12:56.840 is down three hundred three and nasdack futures down one 0:12:56.880 --> 0:12:59.599 hundred seven. The decks in Germany's down nine tenths of 0:12:59.720 --> 0:13:03.160 upper sent the tenure Treasury down seventeen thirty seconds three 0:13:03.160 --> 0:13:05.480 point seven zero percent. They yield on the two year 0:13:05.559 --> 0:13:08.679 four point one two percent. Nimex screwed oil is down 0:13:08.720 --> 0:13:10.600 four tenths per cent to thirty seven cents at eight 0:13:10.720 --> 0:13:13.559 six dollars fifteen cents of Barrow Comex gold is down 0:13:13.600 --> 0:13:15.960 one point one percent or eighteen dollars twenty cents at 0:13:16.000 --> 0:13:20.240 seventeen twelve thirty announced hero po five against the dollar, 0:13:20.280 --> 0:13:22.680 British found one point one three seven seven and began 0:13:22.720 --> 0:13:25.800 one forty four point four seven, and Bitcoin is down 0:13:25.840 --> 0:13:29.360 one point one percent at twenty thousand, one hundred dollars. Today, 0:13:29.360 --> 0:13:31.480 we are watching for our report on private pay rolls 0:13:31.480 --> 0:13:33.800 at any fifteen Wall Street time at eight thirty. Is 0:13:33.800 --> 0:13:36.600 a trade balance, then a tend to look at service industries. 0:13:36.840 --> 0:13:39.360 That's a Bloomberg business flash. Now here's Muchael Barr with 0:13:39.480 --> 0:13:42.000 more on what's going on around the world. Michael Darren, 0:13:42.040 --> 0:13:44.920 thank you very much. Recovery efforts continue in Florida made 0:13:44.960 --> 0:13:48.679 the devastation left by hurricane and President Biden plans to 0:13:48.760 --> 0:13:51.680 visit the state today. United Airlines is said to be 0:13:51.840 --> 0:13:56.000 restarting Hong Kong flights as soon as January. It's one 0:13:56.040 --> 0:13:58.640 of a hand full of major airlines to resume passenger 0:13:58.679 --> 0:14:01.520 flights to the city, which has largely been cut off 0:14:01.559 --> 0:14:04.160 to the outside world since the start of the pandemic. 0:14:04.640 --> 0:14:08.600 In baseball, Yankee slugger Aaron Judge hit his sixty second 0:14:08.600 --> 0:14:10.840 home run of the season to break Roger Maris his 0:14:10.840 --> 0:14:13.480 American League record, and happened in Game one as the 0:14:13.559 --> 0:14:16.720 Yankees split a double header with the Rangers. The Mets 0:14:16.760 --> 0:14:19.400 swept the double header against the Nationals, but the Brave 0:14:19.480 --> 0:14:21.880 still clinched the NNL East with a wind over the Marlins, 0:14:22.160 --> 0:14:25.440 the Red Sox and A's one the Giants lost. Global 0:14:25.480 --> 0:14:28.560 news twenty four hours a day on here and on 0:14:28.600 --> 0:14:32.760 Bloomberg Quick Take, powered by more than journalists and analysts 0:14:32.760 --> 0:14:36.200 more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan. 0:14:36.280 --> 0:14:38.720 Thanks Michael. It is six nineteen on Wall Street Live 0:14:38.760 --> 0:14:42.320 from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. 0:14:42.360 --> 0:14:44.240 We want to turn out of the political drama in 0:14:44.320 --> 0:14:48.240 the UK. Prime Minister Liz trust is addressing her fellow 0:14:48.240 --> 0:14:51.240 conservatives right now at their party conference, trying to get 0:14:51.240 --> 0:14:55.040 her economic agenda and her premiership back on track. She 0:14:55.160 --> 0:14:58.000 just began speaking moments ago. Let's listen into part of 0:14:58.040 --> 0:15:00.560 what she's had to say. We got a at a 0:15:00.720 --> 0:15:06.840 vital time for the United Kingdom. These are stormy days. Together. 0:15:07.200 --> 0:15:10.880 We've mourned the death of Queen Elizabeth the Second, the 0:15:11.000 --> 0:15:15.040 rock on which modern Britain was built. We're now in 0:15:15.040 --> 0:15:20.240 a new era under King Charles the Third. We're dealing 0:15:20.240 --> 0:15:24.400 with the global economic crisis caused by COVID and by 0:15:24.480 --> 0:15:29.240 Putin's appalling war in Ukraine. In these tough times, we 0:15:29.320 --> 0:15:33.600 need to step up. I'm determined to get Britain moving, 0:15:34.080 --> 0:15:36.680 to get us through the tempest and to put us 0:15:36.720 --> 0:15:40.560 on a stronger footing as a nation. I'm driven in 0:15:40.640 --> 0:15:44.520 this mission by my firm belief in the British people. 0:15:45.760 --> 0:15:48.880 I believe that you know best how to spend your 0:15:48.920 --> 0:15:51.920 own money to get on in life and to realize 0:15:52.200 --> 0:15:57.920 your ambitions. The UK Prime Minister Liz Trust as she 0:15:58.000 --> 0:16:01.400 continues speaking this morning at the Wary conference in Birmingham. 0:16:01.480 --> 0:16:04.360 Let's check in live with Bloomberg's James Wilcock, who has 0:16:04.760 --> 0:16:07.920 been covering this event. For the last several days here, 0:16:08.200 --> 0:16:11.560 and it has been a tumultuous a few days. Of course, James, 0:16:11.600 --> 0:16:13.920 what else is standing out from this speech for you, 0:16:14.920 --> 0:16:17.640 I mean, Nathan. Just as I'm watching this now, protesters 0:16:17.680 --> 0:16:20.400 have stormed the stage to just a minute ago, two 0:16:20.440 --> 0:16:23.960 process has tried to unveil a Greenpeace banner for climate change. 0:16:23.960 --> 0:16:25.960 Activists have had to be dragged out, and this just 0:16:26.080 --> 0:16:28.440 sort of responded to it by saying, I'm gonna be 0:16:28.480 --> 0:16:30.480 talking about the anti growth coal issue that people who 0:16:30.480 --> 0:16:32.600 are holding us back and later on this speech, but 0:16:32.600 --> 0:16:34.640 they seem to proviriving a little early, so she handled 0:16:34.640 --> 0:16:37.320 that quite well. But she is now trying, Nathan, to 0:16:37.400 --> 0:16:41.040 reset her agenda. She's talking a bit about her history, 0:16:41.080 --> 0:16:43.120 how she comes to politics and why she cares so 0:16:43.200 --> 0:16:45.840 much about growth and what has led to her making 0:16:45.880 --> 0:16:48.760 these choices that she has made, and also you turned 0:16:48.760 --> 0:16:51.600 on earlier this week. It's been an incredible few weeks 0:16:51.640 --> 0:16:54.600 for her, having to have seventy years of the Queen's 0:16:54.680 --> 0:16:57.040 rule and deal with that funeral only a week into 0:16:57.040 --> 0:16:59.480 the job, and now a month into the job, she's 0:16:59.520 --> 0:17:02.880 having to say about her entire policy agenda in spite 0:17:02.920 --> 0:17:05.040 of the market chaos the UK has been facing. It's 0:17:05.080 --> 0:17:08.200 a very difficult ask for a very new prime minister. Yeah, 0:17:08.200 --> 0:17:10.680 and it's been a very difficult time for obviously when 0:17:10.720 --> 0:17:14.200 she's had to reneg on some of this economic agenda 0:17:14.200 --> 0:17:16.600 that she's put forward, particularly on the text cuts for 0:17:16.640 --> 0:17:19.159 the wealthy. Is there a sense that she's going to 0:17:19.480 --> 0:17:23.640 firm up around an economic agenda, the sort of adjust 0:17:23.840 --> 0:17:27.119 to the reality of the political head whence she's facing 0:17:27.119 --> 0:17:30.200 from within her own party. Well, the difficulty is is 0:17:30.240 --> 0:17:32.960 that the Chancellor has said that he isn't able to 0:17:33.080 --> 0:17:36.119 unveil his economic plan for how he's going to pay 0:17:36.160 --> 0:17:39.359 for all this sort of fiscal stimulus until November twenty 0:17:39.400 --> 0:17:42.840 three in the speech. What we're effectively watching for is 0:17:43.320 --> 0:17:46.280 how she performs. Can she bring the party back on side, 0:17:46.520 --> 0:17:48.960 because one of the big danger in the UK's list 0:17:49.000 --> 0:17:52.000 trusts support within her own party is so fractious. Is 0:17:52.040 --> 0:17:54.720 what this sort of conference has unveiled that when they 0:17:54.720 --> 0:17:57.639 go back to Westminster next week there are real questions 0:17:57.640 --> 0:18:00.399 swirling about if she could actually pass any of her 0:18:00.400 --> 0:18:03.840 measures into legislation or will there be a lame duck administration. Yeah, 0:18:03.920 --> 0:18:06.960 I know you've been speaking to conservative members throughout. I 0:18:06.960 --> 0:18:09.639 guess what Conservative members who have shown up to this 0:18:09.760 --> 0:18:12.400 conference so far, what have they been telling you about 0:18:12.520 --> 0:18:16.800 whether they do support the agenda from lost Trust going forward. Well, 0:18:16.840 --> 0:18:18.919 in terms of the rank and file, it's fascinating the 0:18:18.920 --> 0:18:21.280 ones who are free to talk to journalists. The staff 0:18:21.280 --> 0:18:24.080 as who work for MPs is always an interesting indicator. 0:18:24.200 --> 0:18:26.720 I have had more than than I can count on 0:18:26.720 --> 0:18:29.040 one hand tell me they are looking for jobs outside 0:18:29.040 --> 0:18:31.880 of politics because they don't expect to win the next election, 0:18:32.200 --> 0:18:35.240 So that's always an interesting indicator. They aren't optimistic at all. 0:18:35.640 --> 0:18:38.160 And like you've mentioned, the MPs, the members of part 0:18:38.119 --> 0:18:40.320 of the lawmakers who are part of the party, So 0:18:40.359 --> 0:18:42.080 many of them haven't shown up and a lot of 0:18:42.080 --> 0:18:44.440 them have gone home yesterday because today in the UK 0:18:44.560 --> 0:18:48.320 there are rail strikes plans specifically to try and hamstring 0:18:48.359 --> 0:18:51.200 attendance this events, which just goes to show the scale 0:18:51.200 --> 0:18:53.760 of unrest the UK is facing. This Trust has such 0:18:53.760 --> 0:18:56.320 an uphill battle and in this speech we will be 0:18:56.400 --> 0:18:59.159 judging to see if she can reset the agenda and 0:18:59.240 --> 0:19:01.919 bring back they in time to be back to Western's 0:19:01.920 --> 0:19:04.000 the next week. I try and pushed through this big 0:19:04.000 --> 0:19:09.640 agenda rail strikes, rancor within the party and green Peace protesters. 0:19:09.640 --> 0:19:13.600 It just sort of encapsulates the atmosphere in the UK 0:19:13.880 --> 0:19:16.439 right now. As you mentioned, an uphill climb might be 0:19:16.640 --> 0:19:20.480 understating things for Liz Trust. Thanks for this, James, great 0:19:20.520 --> 0:19:24.000 work covering the Tory conference throughout these last few days. 0:19:24.000 --> 0:19:27.320 Here James Wilcox joining us this morning from the Conservative 0:19:27.320 --> 0:19:30.480 Party conference in Birmingham, England, where Prime Minister Liz Trust 0:19:30.600 --> 0:19:32.960 is continuing her address. You can watch it on the 0:19:32.960 --> 0:19:35.879 Bloomberg terminal at live Go. We also have a blog 0:19:35.960 --> 0:19:38.320 running with our top Live team t l I v 0:19:38.560 --> 0:19:42.320 go UH to get more on what the Prime ministers 0:19:42.320 --> 0:19:46.040 had to say, an instant analysis of her comments as 0:19:46.080 --> 0:19:48.560 they happen. Looking ahead to the market open here on 0:19:48.640 --> 0:19:52.120 Wall Street, futures are moving lower. SMP futures are down 0:19:52.160 --> 0:19:54.760 thirty four points down, futures down two to eighty three, 0:19:55.080 --> 0:19:58.320 NASTAC futures lower by nineties six points. British pound one 0:19:58.359 --> 0:20:01.359 point one three eight three against the dollars, so weakening 0:20:01.480 --> 0:20:04.320 on the cable rate. You're listening to Bloomberg day Break 0:20:07.280 --> 0:20:09.879 Bloomberg eleven three oh weather rain will taper off and 0:20:09.960 --> 0:20:11.680 should be done by this evening, we'll get up to 0:20:11.760 --> 0:20:16.160 your sixty degrees clearing low seventies Tomorrow sunshine low seventies 0:20:16.200 --> 0:20:19.359 continue for Friday. Right now fifty six in Central Park, 0:20:22.000 --> 0:20:26.560 broadcasting live from the Bloomberg Interactive Broker Studio in New York. 0:20:26.680 --> 0:20:30.000 Bloomberg E Living Free to Washington, d C. Bloomberg nine 0:20:30.440 --> 0:20:33.960 one to Boston, Bloomberg What all six one does? San Francisco, 0:20:34.040 --> 0:20:37.479 Bloomberg nine sixteen to the country Sirius XM chto one 0:20:37.560 --> 0:20:40.480 nine ten, and around the globe the Bloomberg Business app 0:20:40.600 --> 0:20:50.440 and Bloomberg Radio dot com. This is Bloomberg Daybreak, six 0:20:50.480 --> 0:20:53.159 thirty on Wall Street. Good morning, I'm Nathan Hagar and 0:20:53.240 --> 0:20:56.120 I'm Karen Moscow. We're just about three hours away from 0:20:56.119 --> 0:20:58.160 the open of US trading. Time for the five things 0:20:58.200 --> 0:21:00.359 that you need to notice start your day. To you 0:21:00.480 --> 0:21:04.880 buy Interactive Brokers. Interactive Brokers charges Martin loan rates from 0:21:04.880 --> 0:21:07.160 three point five eight percent to four point five eight 0:21:07.160 --> 0:21:10.159 percent rates subject to change. Learn more at ibk r 0:21:10.280 --> 0:21:13.359 dot com. Slash compare. At first, we begin with Elon 0:21:13.440 --> 0:21:15.760 Musk reviving is bid to buy Twitter. He'll make the 0:21:15.800 --> 0:21:18.600 acquisition at the original price of fifty four do twenty 0:21:18.640 --> 0:21:22.159 cents of share. 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