Speaker 1: Life from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: day Break for Friday, September two. Coming up this hour
Speaker 1: hurricaney and takes in that the Carolinas as Florida deals
Speaker 1: with the devastation stops begin the last day of the
Speaker 1: quarter at twenty two month lows. The pound recoups all
Speaker 1: its losses after last week's text cut announcement, and we'll
Speaker 1: tell you why shares of Nike are not doing it
Speaker 1: for investors. This morning, Shock grief and outrage over the
Speaker 1: random stabbing death of a New York City E M.
Speaker 1: S veteran plus Russian President poop and will finalize annexation
Speaker 1: of Ukraine region. I'm Blachael Blair. More ahead, I'm John Stash.
Speaker 1: Aaron Sports The Big Mets Brain Series begins to Night Atlanta,
Speaker 1: Aaron Judge of the Yankees, host the Orioles NFL Bengals
Speaker 1: beat the Dolbury. That's All's training ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg. He Living Free on New York Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine
Speaker 1: sixties and Francisco Sirius x M one nine team and
Speaker 1: around the world on Bloomberg Radio dot com and via
Speaker 1: the Bloomberg Business and good Friday morning. I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow, and US index futures are higher
Speaker 1: this morning. We're coming up to five o one on
Speaker 1: Wall Street, and we check the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg SMP futures up thirty
Speaker 1: five points down futures have two D thirty one, and
Speaker 1: NASDACK futures have one hundred three ten year treasury up
Speaker 1: eighteen thirty seconds, you know, three point seven one percent. Nathan,
Speaker 1: all right, Karen, we'll get back to markets in a minute,
Speaker 1: but first we want to get to the latest on
Speaker 1: Hurricane Ian. It is a hurricane again, set for landfall
Speaker 1: later today in South Carolina. President Biden has already declared
Speaker 1: an emergency for the state. This woman is in Fort Myers, Florida,
Speaker 1: where Ian came in as a powerful category four storm.
Speaker 1: I am the stupidest woman. I'm from Florida. I went
Speaker 1: through Andrew Irma, I decided to stay. Did not know
Speaker 1: it's going to get to be a four and a five.
Speaker 1: President Biden says Ian could be one of the deadliest
Speaker 1: worms in Florida's history. The numbers of still are still unclear,
Speaker 1: but we're hearing early reports of what may be substantial
Speaker 1: loss of life. When the President says he has been
Speaker 1: in touch with Florida Governor Rhonda Santis, the governor says
Speaker 1: it will take time to confirm casualties, but rescuers have
Speaker 1: been busy. There's been more than seven hundred confirmed rescues
Speaker 1: and there's likely many more than that that will be
Speaker 1: confirmed as more data comes in. Governor to Santa says
Speaker 1: the state is trucking in supplies to those in need,
Speaker 1: but blackouts could last for days. And we'll think you
Speaker 1: posted on the latest damage and disruption from this store.
Speaker 1: And but first, Nathan, let's turn back to the market's
Speaker 1: It's the last day of the third quarter and stocks
Speaker 1: begin this session at a twenty two month low. So
Speaker 1: far this quarter, one point three trillion dollars has been
Speaker 1: wiped off the value of the SNP five D and
Speaker 1: c f r A. Chief investment strategist Sam Stovall says
Speaker 1: October could be even worse, even though September does have
Speaker 1: a reputation of being volatile. Of the trading days in
Speaker 1: September typically see a one percent move either up or down,
Speaker 1: but we've had two and a half times that number
Speaker 1: this year. And if you think September is bad, just
Speaker 1: wait till October because that traditionally sees thirty six more
Speaker 1: volatility than the average for the other eleven months of
Speaker 1: the year. Cef A Sam stove All expects stocks too
Speaker 1: soon retest their lows, and hawks talk from the fed's
Speaker 1: been weighing on markets, Karen. San Francisco FED President Mary
Speaker 1: Daily says the Central Bank is committed to raising interest
Speaker 1: rates until it restores price stability. Navigating the economy toward
Speaker 1: a more sustainable path necessitates higher interest rates in a
Speaker 1: down shift in the pace of economic activity and the
Speaker 1: labor market, but for now inducing a deep recession the
Speaker 1: kind we had back in the nineteen eighties, or some
Speaker 1: would even think of the Great Recession, that is not warranted.
Speaker 1: San Francisco FED President Mary Daily says she is worried
Speaker 1: about possibly tightening policy too much. Well, the Fed is
Speaker 1: keeping its eye on eight nomic data. Nathan, including another
Speaker 1: report on sentiment this morning we get September is reading
Speaker 1: from the University of Michigan at ten am Wall Street Time,
Speaker 1: and we get a preview from Bloomberg's of any down
Speaker 1: Judas the University of Michigan consumer sentiment index has been
Speaker 1: recovering after setting a record low in June gasoline prices.
Speaker 1: If he's somewhat dangerous, persists, though there's talk about recession
Speaker 1: with the Federal Reserve raising interest rates to fight inflation. Moreover,
Speaker 1: Bloomberg Economics says Americans are worry of the inflation outlook
Speaker 1: with uncertainty about the costs are living running at the
Speaker 1: highest in forty years, they Judas Bloomberg Day Break, All right, Vinnie,
Speaker 1: thank you. In Europe this morning, the pound has rallied
Speaker 1: back to levels last scene before the government announced controversial
Speaker 1: tax cuts last week. Let's go live to London and
Speaker 1: get the latest with Bloomberg's You and Potts. Good morning,
Speaker 1: Good morning Nathan and caring the pound higher for a
Speaker 1: fourth day today is his trade is speculate the government
Speaker 1: will be forced to backtrack from his big package of
Speaker 1: unfunded taxcts. The butt of the currency and bomba Kit's
Speaker 1: earlier this week. The move caps an extremely volatile week
Speaker 1: for UK markets, which saw the dramatic intervention of the
Speaker 1: Bank of England's new prime minister List Trust is at
Speaker 1: the Conservative Party conference this weekend, and one flash opinion
Speaker 1: poll puts A thirty three points behind the opposition Labor Party. Elsewhere,
Speaker 1: just in the last few minutes, your area inflation has
Speaker 1: hit double digits for the first time ever. In London,
Speaker 1: I'm you in parts Bloomberg, daybreak, All right you and thanks.
Speaker 1: In Asia, overnight, starks fell again, putting the regional benchmark
Speaker 1: on course for its worst a monthly performance in two
Speaker 1: thousand and eight. We get the reak out from Bloomberg's
Speaker 1: Juliet Sally In Singapore. Good morning, Juliet, Good morning Karen.
Speaker 1: The ms CI Asia Pacific Index remained at April twenty
Speaker 1: twenty lows to cap at seventh straight week of declines.
Speaker 1: Equities in Japan, which has the highest weight in the
Speaker 1: Asia Index, were the biggest losers. Chinese tech shares listed
Speaker 1: in Hong Kong also under pressure, and over the week,
Speaker 1: the regional benchmark index fell four and a half percent,
Speaker 1: the most in three months. In Singapore, Juliette Sally Bloomberg daybreak,
Speaker 1: All right, Juliet. Thanks. Back here in the US, we
Speaker 1: have some corporate news of note, including the end of
Speaker 1: an era at Facebook parent Meta CEO Mark Zuckerberg's outline
Speaker 1: plans to reorganize teams and reduce headcount for the first
Speaker 1: time ever. Bloomberg Technology reporter Kurt Wagner broke the news
Speaker 1: late yesterday. In some cases, you know, when someone leaves
Speaker 1: a team, they're just not going to fill that role again.
Speaker 1: Some people are going to be moving from team to team,
Speaker 1: and then in some cases they're gonna be kicking out
Speaker 1: low performers, right, which is a pretty drastic thing that
Speaker 1: we haven't seen that Facebook in a long time or ever.
Speaker 1: And so this really just feels like a moment, right
Speaker 1: this company that has been growing and expanding for eighteen
Speaker 1: years finally hitting a bit of an issue here. Bloomberg's
Speaker 1: Kirt Wagner says Metal will likely be a smaller company
Speaker 1: in three than it was this year. Right now, the
Speaker 1: shares are up more than one percent in early trading.
Speaker 1: Well on the flip side, Nathan shares a Nike down
Speaker 1: more than nine percent. The company reported a surge in
Speaker 1: inventory and is pushing through discounts that her profitability. Higher
Speaker 1: freight costs and foreign exchange effects are also hurting Nike
Speaker 1: and Micron is slashing pretty auction, Karen because of a
Speaker 1: steep plunge in demand. The biggest US chip maker is
Speaker 1: forecasting quarterly sales almost two billion dollars below estimates, so
Speaker 1: the stock is higher. On news, Japan will subsidize Microns
Speaker 1: push to produce its new advanced chips in Hiroshima. Straight ahead,
Speaker 1: we have your latest local headlines, plus a check of sports.
Speaker 1: This is Bloomberg and it is now five oh seven
Speaker 1: on Wall Street. We're fifty three degrees in Central Park
Speaker 1: on an accident on the westbound Hempstead Turnpike near Root
Speaker 1: one oh six. Details coming up in traffic. First Michael
Speaker 1: bar with more on what's going on in New York
Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: A suspect is in custody and the fatal staffing of
Speaker 1: a sixty one year old f D n Y Emergency
Speaker 1: Medical Services lieutenant. Police say she was stabbed multiple times
Speaker 1: yesterday afternoon in an unprovoked attack while on duty. New
Speaker 1: York City Mayor Eric Adams. One of our heroes, Alison
Speaker 1: russo At, twenty five year veteran of the department, stabbed
Speaker 1: by an assailant. Mayor Adams says Russo was standing outside
Speaker 1: f D N Y E M S station in Queens
Speaker 1: when the violence occurred. Russo was taken to a Queen's hospital,
Speaker 1: where she was pronounced dead. Russo's death sparked an outpouring
Speaker 1: of emotion and sympathy outside the hospital, with lots of
Speaker 1: tears and hugs. N YPD Commissioner keeaching Seoul, this deadly, senseless,
Speaker 1: broad daylight attack on a uniformed E M team member
Speaker 1: is a direct assault on our society. It is the
Speaker 1: latest consequence of the violence that we relentlessly fight in
Speaker 1: our city. The suspect of thirty or four year old
Speaker 1: man has not been charged yet. Police so far did
Speaker 1: not have a motive for the stabbing. Russian President Vladimir
Speaker 1: Putin is expected to deliver a major address at the
Speaker 1: Kremlin today formerly annexing for Ukrainian regions. This after wholing
Speaker 1: what Ukraine and Western countries said, we're phony referendums in
Speaker 1: the Russian occupied areas, President Biden made it clear the
Speaker 1: US will never recognize Russia's attempt to claim Ukrainian territory.
Speaker 1: The so called referendum was a sham, an absolute sham.
Speaker 1: The results were manufactured in Moscow. President Biden made his
Speaker 1: comments to Pacific Island leaders at the White House. The
Speaker 1: wife of Supreme Court Justice Clarence Thomas, appeared before the
Speaker 1: January six committee investigating the Capitol riot in the days
Speaker 1: after the election. Jenny Thomas urged the Trump White House
Speaker 1: to fight back and emailed state lawmakers asking them to
Speaker 1: help overturn the election results. Committee chairman Benny Thompson said
Speaker 1: that she answered some of the questions that were put
Speaker 1: before her. Her lawyer later came out and said she
Speaker 1: answered all the questions. The Senate voted overwhelmingly to approve
Speaker 1: an interim spending bill that would keep the government open
Speaker 1: until mid December. The House still has to consider the legislation.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalist and analysts more than a hundred twenty countries. Michael
Speaker 1: bar this is Bloomberg, Na't it okay? Michael? Thank you
Speaker 1: coming up to five ten on All Street time for
Speaker 1: the Bloomberg Sports up TAKEO. Morning John Stenshown or Morning Nathan.
Speaker 1: You can't underestimate the significance of this Mets Braves series
Speaker 1: that begins tonight in Atlanta. Though both teams are going
Speaker 1: to the playoffs, winning the division means not having to
Speaker 1: play in the best of three wild cards series. It
Speaker 1: means being able to set up your rotation until your
Speaker 1: best pictures can go to the start of the division round.
Speaker 1: And it means not having to play the Dodgers until
Speaker 1: the NLCS. Dodgers have won eight games. Mets lead the
Speaker 1: Braves by one. They'll have Jacob Graham on the mount
Speaker 1: tonight with Max. Shows are going tomorrow, and the Mets
Speaker 1: have called up their top prospect, twenty year old catcher
Speaker 1: Francisco Alvarez. He might be the d h tonight. Yankees
Speaker 1: home for the Orioles. When Hank Aaron broke Babe Ruth's
Speaker 1: home run record nineteen seventy four, he broke it in
Speaker 1: his first game after tying it. We'll see Daron Judge does. Likewise,
Speaker 1: Judge has had this remarkable season as a free agent
Speaker 1: to Babe. The Yankees want to resign him. The team
Speaker 1: president is Randy Leming like Yankee. Uh we love having
Speaker 1: him be Yankee. You know, being a Yankee is different
Speaker 1: than anything else, So I'm hopeful. All I can tell
Speaker 1: you is health Steinbrenner, the entire organization, myself, Brian Kishman,
Speaker 1: We're not gonna leave any stone on turned trying to
Speaker 1: bring him back. Andy Leavin, a guest on The Bloomberg
Speaker 1: Business a Sports her tonight at seven, or listen to the
Speaker 1: the podcast on Apple, Spotify, Stitcher or anywhere you get
Speaker 1: through podcasts. There's a right football kicking out. Week four.
Speaker 1: Cincinnati rallied fourth quarter beat in Miami fifteen. First loss
Speaker 1: with the Dolphins leaves Philadelphia as the NFL's loan on being.
Speaker 1: Despite the storm in Tampa, the Chiefs Bucks game will
Speaker 1: be played in Tampa on Sunday. John Stash that were
Speaker 1: Bloomberg Sports Nathan all Right, John, thank you. SMP futures
Speaker 1: right now are up thirty three point. Stown futures down
Speaker 1: two to twenty are up two to twenty four. They
Speaker 1: are higher this morning, and NASTAC futures are on the
Speaker 1: rise by night points. We check in next with St. Dwack,
Speaker 1: chief investment officer at Flow Bank, looking ahead to the
Speaker 1: fourth quarter after three straight down quarters this year. This
Speaker 1: is Bloomberg Bloomberg eleven three oh weather mostly cloudy, upper
Speaker 1: sixties today, light rain from Ian moves. In tomorrow we'll
Speaker 1: have a high near sixty five and showers Sunday low sixties.
Speaker 1: Right now fifty three in Central Park markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: The Bloomberg Business at and at Bloomberg Quick Takes a
Speaker 1: Bloomberg Business Lash and I'm Karen Moscow. The updates brought
Speaker 1: to you by s E. I said managers don't get
Speaker 1: results that are off the charts when their solutions are
Speaker 1: off the shelf. Learn how sei is operating platform can
Speaker 1: turn infrastructure into a competitive advantage at sei C dot Com.
Speaker 1: Slash Tech European stocks rising with government bonds signaling a
Speaker 1: potential recovery at the end of a tumultuous week in market.
Speaker 1: US DOCK index futures are also gaining following another bruising
Speaker 1: session on Wall Street that took the SMP five hundred
Speaker 1: down two percent of the lowest in almost two years,
Speaker 1: and send the tech heavy NASDAC tumbling almost four percent.
Speaker 1: We checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg, SNP futures of twenty eight points this morning,
Speaker 1: down futures of a hundred eighty three and now stack
Speaker 1: futures of eight two. The decks in Germany is up
Speaker 1: one percent. Ten year treasury up eighteen thirty seconds, you know,
Speaker 1: three point seven one percent yield on the two year
Speaker 1: four point one six percent, nine x screwed oils at
Speaker 1: one point four percent, up a dollar seventeen at eighty
Speaker 1: two dollars forty cents of barrel comes gold up six
Speaker 1: tenths percent or ten dollars eighty cents at sixteen seventy
Speaker 1: nine thirty announced the euro point nine two five against
Speaker 1: the dollar. British found one point one one seven five
Speaker 1: they had one forty four point to eight and Bitcoin
Speaker 1: this morning of a third of u percent at nineteen thousand,
Speaker 1: five hundred dollars. That's a bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around there.
Speaker 1: Good morning, Karen Ian. Now, a hurricane again is threatening
Speaker 1: to carve a new path of destruction through South Carolina
Speaker 1: today and when it roars a short north of Charleston,
Speaker 1: forecasters say the storm will drive a surge of water
Speaker 1: into the city of three to six feet. Government officials say,
Speaker 1: Russian President Vladimir Putin will officially annex four occupied regions
Speaker 1: of Ukraine totally percent of Ukraine's territory. At a formal
Speaker 1: signing ceremony today, the U N Secretary General will condemn
Speaker 1: Russia's action, saying it has no legal value, it must
Speaker 1: not be accepted. In baseball, the Yankees host the Orioles Tonight,
Speaker 1: Aaron Judge will go for sixty two Homer's passing Roger
Speaker 1: Merras's a L record. Last night, the Red Sox beat
Speaker 1: the Orioles five three. The A's lost the Giants. One
Speaker 1: Thursday Night football, the Bengals beat the Dolphins. Global news
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than journalists analysts more than a hundred
Speaker 1: twenty countries. Michael Bard is Bloomberg. Michael, thank you. It's
Speaker 1: five twenty on Wall Street Live from the Bloomberg Interacted
Speaker 1: Broker Studios. This is Bloomberg Daybreak, as we get ready
Speaker 1: to close the books on another rough quarter for equities.
Speaker 1: Were joined this morning by st. Dwack, chief investment Officer
Speaker 1: at Flow Bank. STI. Good morning. We're seeing some relief
Speaker 1: going on in futures this morning, but we've seen one
Speaker 1: point three trillion dollars in value white from the SMP
Speaker 1: five hundred this quarter. How much further could this bearishness go?
Speaker 1: Good morning, Well, that that is the question on everyone's mind.
Speaker 1: I think there is still room to go as we
Speaker 1: continue to get some bad news or some bad surprises,
Speaker 1: including from a couple of companies ahead of the earning season.
Speaker 1: But at the same time markets have become so negative.
Speaker 1: Sentiment is so bearished, positioning is very light, cash levels
Speaker 1: are high. I think the downside is starting to become
Speaker 1: more limited. Now are you looking for a bottom pretty soon?
Speaker 1: Then where would that to be for you? Well, so
Speaker 1: the level is is tricky at this point. We've seen
Speaker 1: some very big move in moves in markets just throughout
Speaker 1: the day right so to this morning's future is could
Speaker 1: very easily reverse later. But I think at some point
Speaker 1: in October we're going to start to see a reversal
Speaker 1: and risk assets. It will take time and it probably
Speaker 1: won't be in a straight line, but I think we
Speaker 1: are going to have a better better performance into the
Speaker 1: end of the year. Despite the FED continuing to hammer
Speaker 1: the drum for higher for longer interest rates, you think
Speaker 1: we could start to see a little bit more of
Speaker 1: positive sentiment move in. Despite that, I think the market
Speaker 1: knows that higher for longer is staying that there won't
Speaker 1: be a Fed pivot even if growth starts to weaken.
Speaker 1: But you're getting continued signs of disinflation and I think
Speaker 1: that is going to continue, and that's going to help
Speaker 1: alleviate some of the market fears that the FED doesn't
Speaker 1: have to be more aggressive than what they've laid out
Speaker 1: right now. And at some went within the next sort
Speaker 1: of month and a half or something, once we get
Speaker 1: to that November meeting will have hiked over four UM
Speaker 1: in just you know, six or nine months. The Fed
Speaker 1: knows that there is a lag effect, and it might
Speaker 1: give it a little bit of time, so we might
Speaker 1: be closer to something, maybe not a pause and normalization
Speaker 1: in the rates or a few smaller rates to come,
Speaker 1: but the bulk should soon be behind us, and I
Speaker 1: think that's going to help markets as well. So where
Speaker 1: are you going to look for opportunity? Then if we
Speaker 1: start to see interest rates level off at least, where
Speaker 1: is the opportunity, Well, we're looking to gradually add back
Speaker 1: to equity markets, um and again this is going to
Speaker 1: take a bit of time. For now, it really still
Speaker 1: is all about cash. But within equities, I think tech
Speaker 1: should do well at the next earning season. I think
Speaker 1: they'll prove to be more or the majority of the
Speaker 1: company's will prove to be more resilient, and I think
Speaker 1: that will help lead the market higher. How do you
Speaker 1: see shaking out overall? We've had a lot of earnings
Speaker 1: down grades up to this point. We've gotten yet more
Speaker 1: news from meta platforms about job cuts, Nike coming in
Speaker 1: with some negative readings as well. Is there further downgrades
Speaker 1: in store or could we see companies start to position
Speaker 1: themselves a little more positively. I don't think we're gonna
Speaker 1: see a lot of more positive What we're seeing is
Speaker 1: that in general, end demand hasn't softened so much. It's
Speaker 1: a lot. I mean, it's margins for Nike, UH defects
Speaker 1: revenue obviously they didn't count it so much, but that's
Speaker 1: not helping UH very often. You've still seen that sort
Speaker 1: of consumption hold up a little bit. And some of
Speaker 1: these job openings or job cuts are feeding right into
Speaker 1: what the Fed wants to hear, right, um, so, so
Speaker 1: that's going to be a little helpful. But I do
Speaker 1: think the market is prepared for bad news and is
Speaker 1: starting to price in quite a bit of bad news
Speaker 1: from the earning season. We'll see if we get a
Speaker 1: couple of big surprises that are much worse than expected.
Speaker 1: But I wouldn't expect too much of much better than expected.
Speaker 1: Maybe just the market thinking not worse than expected. Just
Speaker 1: about thirty seconds left here, Steve. But when it comes
Speaker 1: to bad news, what's you're feeling on whether we could
Speaker 1: be in for a recession, whether it could be a
Speaker 1: long lasting recession. What's your call on that for now?
Speaker 1: I mean, I think we're going to have some kind
Speaker 1: of slowdown, or as in a protracted slowdown. I don't
Speaker 1: know how deep it's going to be. I think we
Speaker 1: can hover close to zero or below UM and then
Speaker 1: recover at some point next year. But I'm not in
Speaker 1: the deep procession camp today. Thanks est, great having you
Speaker 1: on with us this morning. S D. Dwack, chief investment
Speaker 1: Officer at Flow Bank. As we watch futures rise just
Speaker 1: a bit, SMP futures are up twenty five point, STAFF
Speaker 1: futures up a hundred seventy four, and NASTAC futures a
Speaker 1: gain of sixty nine points. The tenure treasury is up
Speaker 1: eighteen thirty seconds, yield three point seven one per cent
Speaker 1: and yield on the two year Right now four point
Speaker 1: one five. You're listening to Bloomberg Daybreak Bloomberg eleven three
Speaker 1: oh weather mostly cloudy, upper sixties today, light rain for me,
Speaker 1: and moves in tomorrow. We'll get into the mid sixties.
Speaker 1: Showers for Sunday, low sixties for highs Right now fifty
Speaker 1: three in Central Park, broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York. Bloomberg E Living Freedom to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg nine sixty to the Country, Sirius
Speaker 1: XM to the one nineteen and around the globe the
Speaker 1: Bloomberg Business app and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak and it's five thirty on Wall Street. Good morning.
Speaker 1: I'm Karen Moscow, I'm Nathan Hagar. We're about four hours
Speaker 1: away from the open of US trading. Let's get you
Speaker 1: up to date on the news you need to know
Speaker 1: at this hour. Her kane Ian is due for a
Speaker 1: second landfall today north of Charleston, South Carolina. President Biden's
Speaker 1: declared an emergency for the entire state. South Carolina. Governor
Speaker 1: Henry McMaster's urging residents to get ready, Call your family,
Speaker 1: call your love once, tell them where you're gonna be.
Speaker 1: Let let them know that so they won't be worrying
Speaker 1: about you. Meantime, the cleanup and recovery in Florida is
Speaker 1: just getting started. At Governor Rhonda Santa says first responders
Speaker 1: have performed more than seven hundred rescues. There's not been
Speaker 1: in these rescue efforts, um you know, decease people found
Speaker 1: as of yet. Now that may change, of course. Governor
Speaker 1: just Santa says power outages in southwest Florida could be lengthy. Well.
Speaker 1: So the markets, Nathan us futures are higher as we
Speaker 1: close out the trading week. Yesterday, the S and P
Speaker 1: five abready closed it at twenty two month low. Joanne Pheeney,
Speaker 1: as a portfolio manager at Advisor's Capital Management, you have
Speaker 1: to look back at history and recognize that the market
Speaker 1: sells off the most right, but tend to tend to
Speaker 1: do that before recessions begin, and they tend to recover
Speaker 1: before we even know officially we've had a recession. And
Speaker 1: so for a long enough term investor one a year,
Speaker 1: two years, three years, there are some pretty good opportunities
Speaker 1: out there, but one has to be able to stomach
Speaker 1: the volatility, which doesn't look like it's going to go
Speaker 1: away anytime soon. Joan Phoeney with Advisor's Capital Management says
Speaker 1: one point three trillion dollars has been wiped off the
Speaker 1: value of the SNP five hundred this quarter, and value
Speaker 1: of Nike is getting wiped off as well, care and
Speaker 1: shares her down more than nine percent in early trading.
Speaker 1: The sportswear company reported inventories surged and it's had to
Speaker 1: push through discounts that hurt profitability. Higher freight costs, markdowns
Speaker 1: and foreign exchange effects hit Nike's gross margin in the
Speaker 1: latest quarter. Well. Micron is slashing production because of a
Speaker 1: steep plunge in demand. Nathan, the biggest U S ship maker,
Speaker 1: is forecasting quarterly sales that are almost two billion dollars
Speaker 1: below estimates, but the stock is higher this morning on
Speaker 1: news that Japan will subsidize Micron's push to produce its
Speaker 1: new advanced ships in Hiroshima futures this morning, we're watching those.
Speaker 1: They're higher. SNP futures up twenty seven points now features
Speaker 1: up a hundred eighty two nowsday future is up seventy five.
Speaker 1: The decks in Germany's up nine tenths of upper cent
Speaker 1: ten year treasury of twenty thirty seconds, you'll three point
Speaker 1: seven zero percent. They yield on the two year four
Speaker 1: point one five percent. Nine nights. Screwed oils up one
Speaker 1: per cent or eighty three cents at eighty two dollars
Speaker 1: six cents of barrel comics gold up seven ten percent
Speaker 1: or eleven dollars ten cents. In sixteen seventy nine eighty
Speaker 1: announced the euro point in one nine against the dollar
Speaker 1: and the British pound one point one eight six one
Speaker 1: four point to five. Straight ahead your latest local headlines,
Speaker 1: plus a check of sports, and this is Bloomberg. Thanks.
Speaker 1: Starting five thirty three on Wall Street, fifty three degrees
Speaker 1: in Central Park, still dealing with the accident westbound Hempstead Turnpike.
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Michael, thank you very much. Nathan,
Speaker 1: the suspect is in custody and the fatal stabbing of
Speaker 1: a sixty one year old f d n Y Emergency
Speaker 1: Medical Services lieutenant. Police say Allison Russo was stabbed yesterday
Speaker 1: afternoon in a random attack act while on duty standing
Speaker 1: outside inn f d n Y e m S station
Speaker 1: in Queens. Russo was rushed to a hospital where she
Speaker 1: was pronounced dead. New York Mayor Eric Adams she was
Speaker 1: working for this city. She plays paid the ultimate sacrifice
Speaker 1: because of that. Russel's death sparked an outpouring of emotion
Speaker 1: and sympathy outside the hospital, with lots of tears and hugs.
Speaker 1: Laura Kavanaugh was the acting f d n Y Commissioner.
Speaker 1: Lieutenant Russo exemplified f d n Y e m S.
Speaker 1: She served the city for twenty five years. She was
Speaker 1: a World Trade Center first responder. She was cited multiple
Speaker 1: times for her bravery and her life saving work. The
Speaker 1: suspect of thirty four year old man has not been
Speaker 1: charged yet, and officials says a Russian strike on the
Speaker 1: Ukrainian city of Zaporija killed at least twenty three people
Speaker 1: and wounded dozens. At least twenty eight others were wounded
Speaker 1: when Russian forces targeted a humanitarian convoy heading to Russian
Speaker 1: occupied territory. It happened just hours before Moscow planned annex
Speaker 1: more of Ukraine and an escalation of the seven month war.
Speaker 1: President Biden called Russia's so called referendum aimed at annexing
Speaker 1: Ukrainian land and absolute sham the United States, who want
Speaker 1: to be very clear about this, The United States will never, never,
Speaker 1: never recognize Russia's claims on Ukraine sovereign territory. Biden made
Speaker 1: his comment speaking to Pacific Island leaders at the White House.
Speaker 1: The wife of Supreme Court Justice Clarence Thomas, appeared before
Speaker 1: the January six committee investigating the Capitol Riot. Jenny Thomas
Speaker 1: answered questions behind closed doors for four hours. In the
Speaker 1: days after the election, she urged the Trump White House
Speaker 1: to fight back and emailed state lawmakers asking them to
Speaker 1: help overturn the election results. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg quick Take, powered
Speaker 1: by more than twenties seven hundred journalists and analysts more
Speaker 1: than a hundred twenty countries. At Michael bar This is Bloomberg, Nathan,
Speaker 1: Thanks Michael Street. John Stash has a Bloomberg Sports update
Speaker 1: for several months now, the Mets have been trying to
Speaker 1: hold off the Atlanta Braves. This weekend, we'll determine whether
Speaker 1: they can continue to him. That's all. The one game lead,
Speaker 1: one win in the three game series gives them the tiebreaker.
Speaker 1: The Mets changed their rotation and they moved Jacob to
Speaker 1: Graham up to go tonight. He actually comes off a
Speaker 1: bad out. He Max Scherzy goes tomorrow. The storm's gone
Speaker 1: through Atlanta. The weather for the series should be okay.
Speaker 1: Yankees os the Orioles. Aaron Judge has tied Roger Marris
Speaker 1: now tries to surpass him. Roger Marris Jr. Has been
Speaker 1: attending all of Judge's recent games. Actually get to meet,
Speaker 1: you know, Aaron's mom, coming here and sit with her.
Speaker 1: That was a lot of fun. Get to know Herrigane
Speaker 1: a little bit about the family, and uh, you know,
Speaker 1: getting to kind of see why Aaron carres himself the
Speaker 1: way he does because obviously getting to meet her, uh,
Speaker 1: spending some time with her, you can kind of see
Speaker 1: that the apple don't fall far from the tree. As
Speaker 1: great as Judges season has been, there are some who
Speaker 1: feels show Hey Otani should win a second straight m
Speaker 1: v P. He's fourth in the league and home runs
Speaker 1: and second in wings. Last night, at his fifteenth win,
Speaker 1: struck out ten. Shnny took a no hitter to the
Speaker 1: eighth inning. Last Sunday, Dolphins quarterback to a tongue. Baolia
Speaker 1: looked wobbly like he had a head injury, only missed
Speaker 1: three snaps. Said later it wasn't his head but his back.
Speaker 1: The union wanted an investigation into why he was allowed
Speaker 1: to continue to play, and they may want another one
Speaker 1: to a cleared to play again last night in Cincinnati,
Speaker 1: in this time a definite head injury perhaps his neck
Speaker 1: as well, to have taken off the field and a
Speaker 1: stretcher taken to the hospital. He is expected to be
Speaker 1: released today. Miami had to lead in the fourth quarter
Speaker 1: but lost the Bengals twenty seven to fifteen. That's the
Speaker 1: first lost of the Dolphins at least Philadelphia, as the
Speaker 1: NFL's loan Undaten John Stash were Bloomberg Sports NA. Thanks
Speaker 1: John seven on Wall Street time for the Tri State
Speaker 1: Business Report. Here's Bloomberg z Cory. New York Governor Kathy
Speaker 1: Hoco says the state will follow California in requiring all
Speaker 1: new vehicles sold by to be zero emissions. HOCO first
Speaker 1: announced in New York deadline in September one, but the
Speaker 1: state could not begin implementation until California final I as
Speaker 1: its own ban An American Airlines group alliance with Jet Blue,
Speaker 1: is placed most of flights by US carriers in New
Speaker 1: York's primary airports into the hands of two major airlines.
Speaker 1: That's according to an executive from rival carrier Spirit Airlines
Speaker 1: at an anti trust trial Thursday. Princeton University is moving
Speaker 1: to several financial ties with fossil fuel companies as the
Speaker 1: school distances itself from major greenhouse gas emitters. At your
Speaker 1: Bloomberg Dry State Business Report, I'm Ed Corey. Thanks had
Speaker 1: five thirty eight on Wall Street. Bloomberg Radio was on
Speaker 1: the air from San Francisco to New York, London to
Speaker 1: Hong Kong. Let's check in with our global news team
Speaker 1: for some of the top stories heard on our three
Speaker 1: hundred affiliate radio stations around the world. I'm Steve Potas
Speaker 1: Content and Wins. In New York. We're talking about Versace's
Speaker 1: planned to revive it's Maddison Avenue, bum Corney, donahoan ktr
Speaker 1: H in Houston. Amazon will close for but its fove
Speaker 1: customer calls. In terms of the US, I'm Genus Cerretti
Speaker 1: and for wfl A in Orlando, I'm reporting that Airbnb
Speaker 1: guests in the path of Hurricane Ian will have to
Speaker 1: rely on the generosity of hosts for refunds. I'm Caroline
Speaker 1: head Kill blombag dav Dishitotium in London. We've been reporting
Speaker 1: on the recovery in the pound a week home from
Speaker 1: the chances many budgets that spoked turmoil in the market.
Speaker 1: IMD Corey on w A T A M in Cleveland.
Speaker 1: I'm reporting Gaviliers owner Dan Gilbert has dropped out of
Speaker 1: Forbes list of the top five richest sports owners in America.
Speaker 1: And those are some of the stories are twenty Bloomberg
Speaker 1: journalists and analysts are working on this morning around the world.
Speaker 1: It's nine on Wall Street. The following is an editorial
Speaker 1: from Bloomberg Opinion. This editorial was written by the Bloomberg
Speaker 1: Editorial Board. I rushed to dump UK government bonds following
Speaker 1: a botched budget announcement, forced a dramatic intervention by the
Speaker 1: Bank of England this week. A clearer indictment of economic
Speaker 1: mismanagement would be hard to imagine having art it so calamitously.
Speaker 1: What can Britain's new Prime Minister, Liz Trust due to
Speaker 1: repair the damage? The best advice for Trust comes down
Speaker 1: to this, stop trying to be exciting. This means coordinating
Speaker 1: quietly with and if necessary, deferring to officials at the
Speaker 1: Bank of England, who are responsible for curbing inflation and
Speaker 1: restoring financial stability. The perception that the Treasury and the
Speaker 1: Central Bank are at odds over macro economic policy is
Speaker 1: fatal to both aims. Many Tories must be missing Trust's predecessor,
Speaker 1: Boris Johnson, the leader they belatedly sacked for serial mismanagement.
Speaker 1: If that doesn't induce trust to reset, what will. This
Speaker 1: editorial was written by the Bloomberg Editorial Board. For more
Speaker 1: Bloomberg opinion, please go to Bloomberg dot com, slash Opinion
Speaker 1: or O P I n go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg opinion, and you can hear Bloomberg
Speaker 1: opinion editorials every weekday at this time. Terminal customers can
Speaker 1: read more at O P I n go. We're gonna
Speaker 1: talk much more about the volatility in the pound after
Speaker 1: the release of Prime Minister Trust's mini budget. We're speaking
Speaker 1: next with Libby Cherry f f X and rates reporter
Speaker 1: for Bloomberg News, joining us from London this morning and
Speaker 1: looking at the cable rate right now, pretty much where
Speaker 1: it was before that budget was announced, at one point
Speaker 1: one f nine against the dollar. This is Bloomberg Bloomberg
Speaker 1: eleven three oh Weather mostly cloudy today, up for sixties
Speaker 1: for highs light rain tomorrow, mid sixties, showers for Sunday,
Speaker 1: low sixties to round out the weekend. Right now fifty
Speaker 1: three in Central Park Markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business Attend at Bloomberg Quicktape. He's a Bloomberg Business Flash
Speaker 1: and I'm Karen Moscow. European stocks are rising along with
Speaker 1: government bond signaling a potential recovery at the end of
Speaker 1: a tumultua this week in markets, US dot in nex
Speaker 1: futures are also gaming. Following me another bruising session on
Speaker 1: Wall Street that took the sm P five hundred down
Speaker 1: to two percent, to the lowest in almost two years,
Speaker 1: and sent the NASDAC tumbling almost four percent. We checked
Speaker 1: the markets every fifteen minutes throughout the trading day. On
Speaker 1: Bloomberg guess and P futures up twenty seven points down
Speaker 1: futures have a hundred seventy nine and ASDAC futures up
Speaker 1: seventy five. The decks in Germany is up nine tenths
Speaker 1: of upper cent. Ten year treasury up twenty four thirty seconds,
Speaker 1: held three point six nine percent yield on the two
Speaker 1: year four point one five percent. NIMEX screwed oil is
Speaker 1: up nine tenths percent or seventy cents and eighty one
Speaker 1: dollars ninety two cents of barrel comes gold up half
Speaker 1: percent or eight dollars fifty cents at sixteen seventy seven
Speaker 1: ten an ouse. The euro point nine eight o nine
Speaker 1: against the dollar British found one point one one six
Speaker 1: six and the end at one forty four point three
Speaker 1: four and Bitcoin this morning is up almost two tenths
Speaker 1: of up percent at nineteen thousand, five hundred dollars. That's
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more
Speaker 1: on what's going on around the world. Karen, thank you
Speaker 1: very much. A revive hreitane and is bearing down on
Speaker 1: South Carolina's coast and the historic city of Charleston, with
Speaker 1: forecasters predicting a storm surge and floods. Earlier, Ian caused
Speaker 1: kind of traffic damage in Florida, leaving people trapped and
Speaker 1: flooded homes and causing several deaths. Vladimir Putin will sign
Speaker 1: documents formalizing Russia's annexation of four occupied regions in Ukraine
Speaker 1: in a show of defiance Ukraine, the US and Allies
Speaker 1: called the so called referendums a sham. Baseball, The Yankees
Speaker 1: host the Orioles tonight. Aaron Judge will go for home
Speaker 1: run number sixty two, passing Roger Maris's a L record.
Speaker 1: Last night, the Red Sox beat the Orioles five three.
Speaker 1: The A's lost the Giants. One Thursday Night football, the
Speaker 1: Bengals beat the Dolphins. Twenty seven Global News twenty four
Speaker 1: hours a day on here and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: and more than a hundred twenty countries. Michael Barr and
Speaker 1: this is Bloomberg, Nathan Michael. Thanks, It's five pay nine
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak. We want to focus on the
Speaker 1: currency markets this morning, specifically the pound. We've been watching
Speaker 1: it all week. It has had quite the week, hasn't it.
Speaker 1: After UK Prime Minister Liz Trust came out with those
Speaker 1: tax cuts, than the Bank of England stepped in with
Speaker 1: unlimited bond purchase plans. You look at the cable rate
Speaker 1: this morning though, and it's almost back to where it started.
Speaker 1: Let's bringing Libby Cherry for more on this, us an
Speaker 1: effects and rates reporter for Bloomberg News and joins us
Speaker 1: now from our European headquarters in London. Libby, is this
Speaker 1: calm returning to the cable market or is it too
Speaker 1: soon to say that? Hi that I think it's probably
Speaker 1: a bit too seen to say that. Um So, what
Speaker 1: we've kind of seen over the last week, as you say,
Speaker 1: we've seen some very volatile trading, you know, with the
Speaker 1: you know, the pound kind of whip soaring on similar
Speaker 1: sort of you know, event risks and so on. But
Speaker 1: I think the two things that have a ready been
Speaker 1: buoying the pounds in the laws week that a help
Speaker 1: it kind of claw back from this record low. I mean,
Speaker 1: the one thing that you've already mentioned exactly is the
Speaker 1: Bank of England's intervention in the guilt market. I think
Speaker 1: really help reassure people, um, you know that there isn't
Speaker 1: going to be this sort of further ternel in the market,
Speaker 1: that there are authorities waiting on the sidelines to pick
Speaker 1: up the pieces. The other thing that's really helped it
Speaker 1: on its last leg higher in the last day or
Speaker 1: so in overnight is that there's expectations or perhaps hopes
Speaker 1: would be the better word, that the UK government might
Speaker 1: actually you know, water down some of its policies or indeed,
Speaker 1: you know, give some further assurances to the market that
Speaker 1: there you know, that they are thinking about their fiscal credibility. Well,
Speaker 1: what's giving traders those assurances, Libby, I mean, we heard
Speaker 1: from the Prime Minister Liz trust She gave a bunch
Speaker 1: of interviews to local radio stations in the UK and
Speaker 1: seems to be doubling down on the tax cut plan.
Speaker 1: What's giving currency traders the idea that maybe she could
Speaker 1: back off a bit well exactly, but I think what
Speaker 1: kind of took people by surprise is that there is
Speaker 1: a planned meeting today with the between the government and
Speaker 1: the FIST and the UK's Fiscal Watchdog. What's really significant
Speaker 1: about is is that the Fiscal Watchdog was initially sidelined
Speaker 1: um when these original stimulus plans were being kind of
Speaker 1: uh sort of developed, if that makes sense, And now
Speaker 1: that they're sort of communicating with them, there's a sense
Speaker 1: that the government is trying to at least kind of
Speaker 1: you know, acknowledge the facts by bringing the O b
Speaker 1: R in that they are thinking about, you know, how
Speaker 1: this will kind of affect the UK's economy long term.
Speaker 1: Having said that, you are completely right, I think, you know,
Speaker 1: especially ahead of the Tory Party conference, um that's this
Speaker 1: Truice party this weekend, it does seem pretty unlikely that
Speaker 1: there's going to be any real significant shift on policy
Speaker 1: anytime soon. Can we see any further shifts from the
Speaker 1: Bank of England Obviously they came in with that announcement
Speaker 1: of unlimited long dated guilt purchases. We see more intervention
Speaker 1: from the b o E. It's an interesting question and
Speaker 1: one that people continued to rack them brands over. The
Speaker 1: trade traders have been you can see in the swaps
Speaker 1: market they were pricing in a sort of small chance
Speaker 1: of a hike ahead of the next scheduled policy decision,
Speaker 1: but those bats have been kind of taped down and
Speaker 1: um for the moment, I think most people are thinking
Speaker 1: about you know, potential um potentially larger move from the
Speaker 1: Bank of England at its next policy decision in November.
Speaker 1: At the moment, traders have fully kind of priced in
Speaker 1: and a hundred and twenty five basis point move from
Speaker 1: the Bank of England by the time of that meeting,
Speaker 1: which would be you know, a very large and you know,
Speaker 1: unprecedented move by the Bank of England since its independence.
Speaker 1: All right, Libby Cherry covering rates and f X for
Speaker 1: us from our London headquarters. Libby, thanks for this and
Speaker 1: just checking the cable rate right now. The British pound
Speaker 1: is trade at one point one one seven four against
Speaker 1: the dollar, after hitting a record low earlier this week.
Speaker 1: Karen Nathan, it is five fifty three on Wall Street.
Speaker 1: Time for the Bloomberg Law Report. We get to the
Speaker 1: legal stories we are launching this morning from Bloomberg's Jeff Bellinger.
Speaker 1: A federal judge ruled that a New York based Christian
Speaker 1: adoption provider can legally refuse to provide services to same
Speaker 1: sex and unmarried couples. Sources say Uber has lobbied behind
Speaker 1: the scenes against legislation to nullify some non disclosure agreements
Speaker 1: for workers alleging sexual harassment and assault. The National Labor
Speaker 1: Relations Board found the Tilton Hotels violated labor laws when
Speaker 1: it gave housekeepers in Alaska more work without consulting their union.
Speaker 1: Bloomberg Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg Market Intelligence. Find out more
Speaker 1: at Bloomberg law dot com. All right, Jeff, thank you. Now,
Speaker 1: another legals story we're watching brings us to the election.
Speaker 1: This weekend, Senate Committee approved the revamp of the Electoral
Speaker 1: Count Act. That's the seven law that sets out congressional
Speaker 1: procedures for certifying presidential elections. The legislation is intended to
Speaker 1: prevent a repeat of the election when former President Trump
Speaker 1: and his allies sought to challenge the results. Both the
Speaker 1: Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell
Speaker 1: support the bill. For more in the legislation, Bloomberg June
Speaker 1: Gronso speaks to elections law expert Richard Brifo, a professor
Speaker 1: at Columbia Law School, and so the Senate bill is
Speaker 1: a bipartisan effort. Republicans Susan Collins and Democrat Joe mention
Speaker 1: what does it do? In general? It does two very
Speaker 1: significant things. First, it declares that the role of the
Speaker 1: vice president, who is technically the president of the Senate
Speaker 1: and who under the Constitution has to preside over this process,
Speaker 1: has an entirely ministerial role. The vice president says as
Speaker 1: a stand up there and to clear of what happens next,
Speaker 1: and says, here's the results. That the vice president has
Speaker 1: no substantive role. May have called this was one of
Speaker 1: the high points of the controversy after the last election,
Speaker 1: when then President Trump insisted that then Vice President Pence
Speaker 1: had the authority to declare that certain electoral votes were
Speaker 1: invalid and not to count them, and Pence himself said
Speaker 1: he didn't have that authority. This makes it clear that
Speaker 1: the vice president has no such authority, that the vice
Speaker 1: president's role is just ministerial, like a secretary. And everyone
Speaker 1: always thought that was the rule. But because Trump made
Speaker 1: such a noise, and it support is about such a
Speaker 1: noise that the vice president could in effect change the result,
Speaker 1: it's probably important that that be clarified. Second, it rather
Speaker 1: dramatically raises the threshold for objections under the current law.
Speaker 1: All you need to object to the electoral vote of
Speaker 1: a state and stop the whole process, and forced the
Speaker 1: two House of Congress to meet separately to debate the
Speaker 1: objections is one member of the House and one member
Speaker 1: of the Senate, just one from each the Senate. Bille
Speaker 1: raises the threshold to one fifth of the House and
Speaker 1: one fifth at the Senate, so that's a dramatic increase. Surprisingly,
Speaker 1: got near unanimous approval by the Rules Committee. Not Surprisingly,
Speaker 1: the one objection came from Senator Ted Cruz, who of
Speaker 1: course led an effort to challenge Biden's election victory. He said, quote,
Speaker 1: this bill is all about Donald J. Trump. It is
Speaker 1: about Donald Trump, isn't it. Yes. I mean everyone agrees
Speaker 1: that the current Electoral Countact is flawed. It's very unclear.
Speaker 1: There's a lot of inconsistencies in it. There are particular
Speaker 1: problems if there's a disagreement from within a state. There
Speaker 1: was always a problem with that very low threshold of objections,
Speaker 1: although until recently it had hardly been used. But certainly
Speaker 1: the election of attack on Congress in January six just
Speaker 1: sort of highlighted the significance of these uncertainties and the
Speaker 1: extreme importance of getting them resolved. And that's Richard Brifo,
Speaker 1: a professor at Columbia Lass School, speaking with the Bloomberg
Speaker 1: Student Grosso. Catch more of that interview plus analysis of
Speaker 1: the latest legal news by listening to the Bloomberg Law
Speaker 1: Show at ten pm Eastern Time or subscribing to the
Speaker 1: Bloomberg Law Podcast. And attorneys can find exceptional legal research
Speaker 1: and business development tools at Bloomberg Law dot com. And again,
Speaker 1: futures this morning are on the rise. SMP futures up
Speaker 1: twenty two points down, futures have a hundred forty nasdack
Speaker 1: futures up sixty two and the decks in Germany's up
Speaker 1: eight tens of per cent, and the tenure treasury of
Speaker 1: twenty one thirty seconds. He'll three point seven zero percent
Speaker 1: yield on the two year four point one five per
Speaker 1: cent and the euro point nine eight oh two against
Speaker 1: the dollars still ahead on Bloomberg Daybreak and check on
Speaker 1: the business headlines and all the news you need to
Speaker 1: start your day. And this is Bloomberg