1 00:00:02,360 --> 00:00:05,720 Speaker 1: Live from the Bloomberg Interactive Brookers Studios. Is Bloomberg Day 2 00:00:05,840 --> 00:00:09,520 Speaker 1: Right for Tuesday, January three, three Coming up, The shower 3 00:00:09,880 --> 00:00:12,680 Speaker 1: Stocks kickoff the new year with games after a dismal 4 00:00:13,800 --> 00:00:15,920 Speaker 1: I M. F. Lawrence. A third of the world economy 5 00:00:15,960 --> 00:00:18,640 Speaker 1: to be in recession this year. China's Hi Jin Pink 6 00:00:18,720 --> 00:00:21,800 Speaker 1: says tough challenges remain in the country's fight against COVID. 7 00:00:22,079 --> 00:00:25,200 Speaker 1: Tesla delivers fewer vehicles that expected in the fourth quarter. 8 00:00:25,360 --> 00:00:27,639 Speaker 1: The man charged with shooting up a New York subway 9 00:00:27,640 --> 00:00:30,800 Speaker 1: car will be in court. Plus, Brazilian authorities are reopening 10 00:00:30,800 --> 00:00:34,159 Speaker 1: a fraud case against Representative Alex Santos. I'm Michael bar 11 00:00:34,360 --> 00:00:37,000 Speaker 1: More a half. I'm John Statward Sports with Nixon. Next 12 00:00:37,000 --> 00:00:40,200 Speaker 1: one The Bills Bengals game postponed after a Buffalo player 13 00:00:40,240 --> 00:00:44,720 Speaker 1: went into cardiac arrest. That's all straight Ahead on Bloomberg 14 00:00:44,760 --> 00:00:49,920 Speaker 1: Day Break on Bloomberg eleven, TREEO, New York, Bloomberg N one, Washington, 15 00:00:50,040 --> 00:00:54,040 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixty, 16 00:00:54,120 --> 00:00:58,000 Speaker 1: San Francisco, Sirius x M one nine Team, and around 17 00:00:58,040 --> 00:01:00,920 Speaker 1: the world on Bloomberg Radio dot Com and via the 18 00:01:01,000 --> 00:01:09,680 Speaker 1: Bloomberg Business A good morning. I'm Nathan Hagar and I'm 19 00:01:09,760 --> 00:01:12,240 Speaker 1: Karen Moscow and the West Dock Index futures are on 20 00:01:12,280 --> 00:01:14,440 Speaker 1: the rise this morning. We checked the markets all day 21 00:01:14,480 --> 00:01:17,800 Speaker 1: long here on Bloomberg and SMP futures up thirty six points, 22 00:01:17,840 --> 00:01:20,560 Speaker 1: or nine tens of upper CENTDAL futures up eight tens 23 00:01:20,560 --> 00:01:23,040 Speaker 1: of upper cent or two hundred seventy eight points. And 24 00:01:23,160 --> 00:01:25,240 Speaker 1: now's deck futures are up one point one per cent 25 00:01:25,319 --> 00:01:28,040 Speaker 1: or a hundred nineteen points. Ten year Treasury up one 26 00:01:28,040 --> 00:01:30,760 Speaker 1: in three thirties seconds. You have three point seven four percent. 27 00:01:30,840 --> 00:01:33,480 Speaker 1: They yield on the two year four point three four percent, 28 00:01:33,840 --> 00:01:36,400 Speaker 1: and NIMEX screwed oil is down one point six percent, 29 00:01:36,440 --> 00:01:38,680 Speaker 1: down a dollar twenty five at seventy nine dollars two 30 00:01:38,680 --> 00:01:41,119 Speaker 1: cents a barrel. Nathan, all right, Karen, let's stay with 31 00:01:41,160 --> 00:01:43,959 Speaker 1: these markets as we kick off the new year. Investors 32 00:01:44,000 --> 00:01:47,640 Speaker 1: seem to be glad two is in the rear view Bloomberg. 33 00:01:47,720 --> 00:01:50,600 Speaker 1: Steve Rappaport joins US Live with more. Good morning, Steve, 34 00:01:50,640 --> 00:01:53,320 Speaker 1: Good morning, Nathan and Karen. Wall Street futures point to 35 00:01:53,360 --> 00:01:56,840 Speaker 1: a higher opening as investors cautiously ringing the new trading year. 36 00:01:57,080 --> 00:01:59,760 Speaker 1: They're keeping a close eye on global equities having lost 37 00:02:00,040 --> 00:02:03,040 Speaker 1: key percent in value after sharp swings last year. Then 38 00:02:03,040 --> 00:02:05,240 Speaker 1: there's the dreaded eye word in what to do about it? 39 00:02:05,360 --> 00:02:08,359 Speaker 1: Traders worried the Federal Reserve and other central banks might 40 00:02:08,360 --> 00:02:10,880 Speaker 1: be willing to risk a recession to bring down inflation 41 00:02:10,919 --> 00:02:13,600 Speaker 1: that remains stubbornly high. We'll get a better look at 42 00:02:13,600 --> 00:02:16,640 Speaker 1: the FIDS thinking tomorrow when policymakers released notes from their 43 00:02:16,680 --> 00:02:19,040 Speaker 1: latest meeting. Live in New York Times, Steve rep report 44 00:02:19,080 --> 00:02:21,560 Speaker 1: Bloomberg daybreak. All right, Steve, thank you. I was the 45 00:02:21,600 --> 00:02:24,280 Speaker 1: first day of trading for stocks in London and let's 46 00:02:24,320 --> 00:02:27,359 Speaker 1: get the latest from Bloombergy daybreaking. Europe Banker Stephen Carroll, 47 00:02:27,400 --> 00:02:30,360 Speaker 1: Good morning, Stephen, Good morning, Karen and Nathan. The London 48 00:02:30,400 --> 00:02:32,760 Speaker 1: market joining in that new year rally. Shares in the 49 00:02:32,760 --> 00:02:35,480 Speaker 1: foot one hundred up two point three percent two hours 50 00:02:35,480 --> 00:02:38,040 Speaker 1: into the trading session. The top performers on the British 51 00:02:38,080 --> 00:02:41,000 Speaker 1: market include the food delivery service at Cado, British Airways 52 00:02:41,040 --> 00:02:43,120 Speaker 1: owner I A G, as well as the oil majors 53 00:02:43,160 --> 00:02:45,280 Speaker 1: BP and Shell. We've got a second day of gains 54 00:02:45,280 --> 00:02:48,680 Speaker 1: across other European markets. The stocks six one point eight percent, 55 00:02:48,720 --> 00:02:51,400 Speaker 1: the Carronton Paris and the Jackson Frankfort both at one 56 00:02:51,400 --> 00:02:54,680 Speaker 1: point four percent. Best performing sector travel and leisure shares 57 00:02:54,919 --> 00:02:57,480 Speaker 1: currently up over three percent. Are people planning New Year's 58 00:02:57,480 --> 00:03:01,360 Speaker 1: holidays in London. I'm Stephen Carroll Bloomer, daybreak. Okay, Stephen, 59 00:03:01,360 --> 00:03:03,440 Speaker 1: thanks And while we are watching the markets, were also 60 00:03:03,520 --> 00:03:06,480 Speaker 1: keeping an eye on a serious story in sports this morning. 61 00:03:06,520 --> 00:03:10,160 Speaker 1: A safety for the Buffalo Bills suffered a cardiac arrest 62 00:03:10,400 --> 00:03:13,560 Speaker 1: during last night's game with the Cincinnati Bengals, and John 63 00:03:13,639 --> 00:03:17,000 Speaker 1: stash Hours here live with the details. John and Nathan 64 00:03:17,040 --> 00:03:19,480 Speaker 1: to mar Hamlin, only twenty four years old. He made 65 00:03:19,480 --> 00:03:21,880 Speaker 1: a tackle in the Bill's game against the Bengals and 66 00:03:21,919 --> 00:03:25,680 Speaker 1: then collapse, having gone into cardiac arrest. CPR was administered, 67 00:03:25,720 --> 00:03:28,760 Speaker 1: They restored his heartbeat, and Hamlet this morning is in 68 00:03:28,800 --> 00:03:31,640 Speaker 1: a Cincinnati hospital, said to me, sedated, with his vital 69 00:03:31,720 --> 00:03:35,080 Speaker 1: signs back to normal, but he is listed in critical condition. 70 00:03:35,120 --> 00:03:37,680 Speaker 1: The game was postponed. No word yet on his resumption. 71 00:03:37,920 --> 00:03:40,720 Speaker 1: John Stashward Bloomberg, debreak. All right, John, thank you, and 72 00:03:40,720 --> 00:03:42,560 Speaker 1: of course I'll have more in that story coming up 73 00:03:42,600 --> 00:03:45,160 Speaker 1: in our sports report. But first let's turn to the 74 00:03:45,160 --> 00:03:48,400 Speaker 1: COVID outbreak in China. President Chi Jim Ping says the 75 00:03:48,440 --> 00:03:50,760 Speaker 1: country is moving into a new phase and its COVID 76 00:03:50,840 --> 00:03:53,920 Speaker 1: pivot and his New Year address, President she warn't of 77 00:03:54,080 --> 00:04:00,440 Speaker 1: hard times ahead Chunk with extraordinary efforts, China has revailed 78 00:04:00,520 --> 00:04:04,800 Speaker 1: over unprecedented difficulties and challenges. That has not been an 79 00:04:04,800 --> 00:04:07,760 Speaker 1: easy journey for anyone. We have now entered a new 80 00:04:07,800 --> 00:04:12,000 Speaker 1: phase of COVID response where tough challenges remain. Chinese President 81 00:04:12,080 --> 00:04:15,760 Speaker 1: She's in pain, did not acknowledge recent protests over COVID directly, 82 00:04:15,840 --> 00:04:18,360 Speaker 1: but did say it's only natural for people to have 83 00:04:18,400 --> 00:04:21,680 Speaker 1: different concerns and views on issues. No, President, She's not 84 00:04:21,720 --> 00:04:23,960 Speaker 1: the only one seeing tough times a Headcaren i am 85 00:04:24,000 --> 00:04:26,960 Speaker 1: F Managing Director Kristine and Georgieva's issuing a warning on 86 00:04:27,000 --> 00:04:29,680 Speaker 1: the global economy. She says one third of the world 87 00:04:29,680 --> 00:04:33,360 Speaker 1: will be in recession this year. We expect one third 88 00:04:33,400 --> 00:04:36,239 Speaker 1: of the word economy to be in recession. For most 89 00:04:36,279 --> 00:04:39,080 Speaker 1: of the world economy. This is going to be a toughier, 90 00:04:39,240 --> 00:04:43,880 Speaker 1: tougher than there we leave behind. Why because the three 91 00:04:44,120 --> 00:04:51,480 Speaker 1: big economies US, EU, China are all slowing down simultaneously. 92 00:04:51,839 --> 00:04:54,880 Speaker 1: I'm F Managing director Crystalline and Georgieva spoke on Face 93 00:04:54,960 --> 00:04:57,880 Speaker 1: the Nation from CBS. Catch the program every Sunday on 94 00:04:57,920 --> 00:05:01,760 Speaker 1: Bloomberg Radio. Meantime in Washington, Nathan, a new Congress is 95 00:05:01,800 --> 00:05:04,000 Speaker 1: seated today. That means it's time to select a new 96 00:05:04,040 --> 00:05:06,800 Speaker 1: Speaker of the House, but as Bloomberg's Sad Bacheter reports, 97 00:05:06,920 --> 00:05:10,080 Speaker 1: this is not expected to be a coronation. Kevin McCarthy's 98 00:05:10,160 --> 00:05:13,159 Speaker 1: chances remain in doubt. With the Republicans only holding a 99 00:05:13,200 --> 00:05:16,960 Speaker 1: slender majority in the new House. McCarthy cannot lose more 100 00:05:17,000 --> 00:05:20,080 Speaker 1: than four GOP votes in his bid, and the latest 101 00:05:20,120 --> 00:05:22,920 Speaker 1: talies have more than that not committed to him, and 102 00:05:23,040 --> 00:05:25,720 Speaker 1: two have already said there is nothing that McCarthy can 103 00:05:25,720 --> 00:05:28,480 Speaker 1: do to get their votes. Coming out of meetings held 104 00:05:28,480 --> 00:05:32,520 Speaker 1: over the weekend, predictions of multiple rounds with fierce negotiation 105 00:05:32,600 --> 00:05:35,320 Speaker 1: going on in the interim. McCarthy has been endorsed by 106 00:05:35,360 --> 00:05:38,800 Speaker 1: Donald Trump, which complicates things for the GOP with a 107 00:05:38,800 --> 00:05:41,360 Speaker 1: good number of the party trying to move away from Trump. 108 00:05:41,920 --> 00:05:44,800 Speaker 1: In San Francisco, I'm at Baxter Bloomberg Daybreak. All right, 109 00:05:44,839 --> 00:05:47,039 Speaker 1: and thanks. Turning to corporate news this morning, we're seeing 110 00:05:47,040 --> 00:05:49,880 Speaker 1: more downbeat data from Tesla. The shares are down almost 111 00:05:49,920 --> 00:05:52,880 Speaker 1: three percent in early trading after the company delivered fewer 112 00:05:52,960 --> 00:05:56,160 Speaker 1: vehicles than expected in the fourth quarter. Bloomberg's Doug Krisner 113 00:05:56,160 --> 00:05:59,839 Speaker 1: has the story. Worldwide deliveries total four hundred five thousand, 114 00:06:00,000 --> 00:06:02,960 Speaker 1: two hundred seventy eight, but that miss the average Bloomberg 115 00:06:03,040 --> 00:06:07,040 Speaker 1: estimate by more than fifteen thousand cars. Nonetheless, the quarterly 116 00:06:07,120 --> 00:06:11,040 Speaker 1: figure is a record. CEO Elon Musk had predicted an 117 00:06:11,040 --> 00:06:14,760 Speaker 1: epic end to the year. To clear inventory, Tesla offered 118 00:06:14,800 --> 00:06:17,840 Speaker 1: discounts of seventy five hundred dollars to US consumers who 119 00:06:17,839 --> 00:06:20,920 Speaker 1: took delivery in the final days of December. Well Now 120 00:06:20,960 --> 00:06:24,680 Speaker 1: Tesla is offering incentives in China. Chinese buyers will get 121 00:06:24,720 --> 00:06:28,200 Speaker 1: the equivalent of fourteen hundred fifty dollars on certain models 122 00:06:28,240 --> 00:06:31,600 Speaker 1: if they take delivery by February. In New York on 123 00:06:31,680 --> 00:06:34,240 Speaker 1: Deck Prisoner Bloomberg daybreak, all right, thank you all. One 124 00:06:34,279 --> 00:06:37,279 Speaker 1: of Most's other companies is also in the spotlight this morning. 125 00:06:37,279 --> 00:06:40,960 Speaker 1: According to c NBC, SpaceX is raising seven hundred fifty 126 00:06:41,000 --> 00:06:43,880 Speaker 1: million dollars in new funding that values the company at 127 00:06:43,880 --> 00:06:47,000 Speaker 1: a hundred thirty seven billion dollars. The network says, and 128 00:06:47,120 --> 00:06:50,680 Speaker 1: recent Horowitz will likely leave the new funding futures again 129 00:06:50,720 --> 00:06:53,600 Speaker 1: moving higher. SNP futures up thirty five points or nine 130 00:06:53,640 --> 00:06:56,600 Speaker 1: tenths of upper cent and straight ahead your latest local headlines, 131 00:06:56,680 --> 00:07:03,599 Speaker 1: plus a check of sports and this is Bloomberg. Thankscaring 132 00:07:03,640 --> 00:07:06,560 Speaker 1: six oh seven on Wall streett degrees in Central Parkcot 133 00:07:06,560 --> 00:07:09,440 Speaker 1: showers the vicinity and expecting rain for much of the 134 00:07:09,520 --> 00:07:12,240 Speaker 1: day with highs in the upper fifties and mid fifties 135 00:07:12,240 --> 00:07:14,680 Speaker 1: for lows. Tonight. Michael Barr is here with more on 136 00:07:14,760 --> 00:07:16,600 Speaker 1: what's going on in New York and around the world. 137 00:07:16,600 --> 00:07:19,720 Speaker 1: Good morning, Michael, Good morning Nathan. Prosecutors want a decade's 138 00:07:19,760 --> 00:07:22,600 Speaker 1: long prison sentence for a man who is expected to 139 00:07:22,600 --> 00:07:25,880 Speaker 1: plead guilty to opening fire on the subway car and 140 00:07:25,960 --> 00:07:29,080 Speaker 1: wounding ten riders in New York City. Frank James as 141 00:07:29,080 --> 00:07:32,440 Speaker 1: scheduled to enter a guilty plea today in Brooklyn Federal Court, 142 00:07:32,800 --> 00:07:35,800 Speaker 1: admitting that he was responsible for the April twelfth attack. 143 00:07:36,240 --> 00:07:38,520 Speaker 1: It set off a massive thirty hour man hunt that 144 00:07:38,720 --> 00:07:41,320 Speaker 1: ended when the sixty three year old called the police 145 00:07:41,320 --> 00:07:45,239 Speaker 1: on himself. Brazilian authorities planned to revive an old criminal 146 00:07:45,320 --> 00:07:49,600 Speaker 1: case on fraud charges against George Santos, the Long Island 147 00:07:49,640 --> 00:07:53,800 Speaker 1: representative eluct takes his seat in Congress today. The Prosecutor's 148 00:07:53,800 --> 00:07:56,560 Speaker 1: office and Rio di Janeiro said the case against Santos 149 00:07:56,840 --> 00:07:59,960 Speaker 1: stems from a two thousand eight incident regarding a stolen checkbook. 150 00:08:00,520 --> 00:08:03,200 Speaker 1: Police in Pennsylvania said the man who shot and killed 151 00:08:03,200 --> 00:08:07,600 Speaker 1: the police officer in Brackenridge has been shot and then 152 00:08:07,640 --> 00:08:12,720 Speaker 1: he was then shot by Pittsburgh Police. Aaron Lamott Swan, 153 00:08:12,960 --> 00:08:15,880 Speaker 1: who was twenty eight, was wanted for a parole violation 154 00:08:16,200 --> 00:08:19,680 Speaker 1: and fled from a traffic stop. Alleghanty County Police Superintendent 155 00:08:19,760 --> 00:08:23,560 Speaker 1: Christopher kerns there was a car chase. The suspect crashed 156 00:08:23,560 --> 00:08:26,679 Speaker 1: the car and fled into the woods. The officers quickly 157 00:08:26,680 --> 00:08:29,880 Speaker 1: formed a perimeter. While former the perimeter, the suspect ran 158 00:08:29,920 --> 00:08:32,920 Speaker 1: from the wooded area. While fleeing from the officers, the 159 00:08:33,000 --> 00:08:37,479 Speaker 1: suspect fired at the officers. Christopher Kerns with the Alleghany 160 00:08:37,520 --> 00:08:42,120 Speaker 1: County Police says Chief Justin McIntire, who was killed, was 161 00:08:42,160 --> 00:08:45,400 Speaker 1: the definition of a community officer. A suspect in the 162 00:08:45,400 --> 00:08:49,000 Speaker 1: New Year's Eve machete attack on three New York City 163 00:08:49,000 --> 00:08:52,120 Speaker 1: police officers near Times Square, it's been arrested and charged 164 00:08:52,120 --> 00:08:54,920 Speaker 1: with attempted murder. Police identified him as a nineteen year 165 00:08:54,960 --> 00:08:58,960 Speaker 1: old Trevor Bickford of Wells Main. Retired NYPD Chief of 166 00:08:59,000 --> 00:09:02,560 Speaker 1: Detectives Robert boy says the heavy police presence on New 167 00:09:02,640 --> 00:09:06,560 Speaker 1: Year's Eve is usually a successful deterrent. Of course, this 168 00:09:06,679 --> 00:09:09,000 Speaker 1: is our biggest deployment of the year in New Years. Say, 169 00:09:09,080 --> 00:09:11,320 Speaker 1: we have the most officers out there. We have we 170 00:09:11,400 --> 00:09:14,120 Speaker 1: have all kinds of frozen zones and to find rids. 171 00:09:14,400 --> 00:09:16,720 Speaker 1: It's not unusual at all to have several thousands place 172 00:09:16,760 --> 00:09:18,960 Speaker 1: hops sport and that night, so we haven't had this 173 00:09:19,000 --> 00:09:21,720 Speaker 1: for a while. During the attack, one of the three 174 00:09:21,720 --> 00:09:24,240 Speaker 1: officers shot and moon did the suspect in the shoulder. 175 00:09:24,600 --> 00:09:27,280 Speaker 1: Global News twenty four hours a day on air and 176 00:09:27,480 --> 00:09:30,640 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 177 00:09:30,679 --> 00:09:34,080 Speaker 1: hundred journalists and analysts more than one twenty countries. I'm 178 00:09:34,080 --> 00:09:37,240 Speaker 1: Michael Barr and this is Bloomberg Nathan. Okay, Michael, thank 179 00:09:37,280 --> 00:09:43,520 Speaker 1: you six o nine on Wall straight time for the 180 00:09:43,520 --> 00:09:46,040 Speaker 1: Bloomberg Sports Update. Brompt you by try state Outie and 181 00:09:46,080 --> 00:09:48,680 Speaker 1: John stanshours back to us. Nathan. It was to be 182 00:09:48,720 --> 00:09:50,880 Speaker 1: a big game between two of the NFL's best teams, 183 00:09:50,920 --> 00:09:53,800 Speaker 1: but in the first quarter, outcome of the football game 184 00:09:53,840 --> 00:09:57,480 Speaker 1: seems awfully insignificant. Buffalo safety Damar Hamlin made a tackle 185 00:09:57,600 --> 00:09:59,640 Speaker 1: that up for a couple of seconds and then fell backwards. 186 00:09:59,720 --> 00:10:02,320 Speaker 1: It was clear this was not a normal injury. He 187 00:10:02,320 --> 00:10:05,920 Speaker 1: had gone into cardiac arrest rec CPR and oxygen. They 188 00:10:05,960 --> 00:10:09,080 Speaker 1: were able on the field to have his heartbeat restored, 189 00:10:09,120 --> 00:10:12,400 Speaker 1: but Hamlin is now in a Cincinnati hospital listed in 190 00:10:12,480 --> 00:10:14,760 Speaker 1: critical condition. At one point there was talking resumed in 191 00:10:14,800 --> 00:10:17,240 Speaker 1: the game. The NFL later said that was a false report. 192 00:10:17,559 --> 00:10:19,160 Speaker 1: It was an hour and a half before the game 193 00:10:19,200 --> 00:10:22,840 Speaker 1: was officially postponed. Bills flew back to Buffalo. The NFL 194 00:10:22,880 --> 00:10:26,199 Speaker 1: has not said when the game will be resumed. They 195 00:10:26,240 --> 00:10:29,079 Speaker 1: played four bowl games. Pence State pulled away on Utah 196 00:10:29,160 --> 00:10:32,200 Speaker 1: to when the Rose LSU took the Citrus sixty three 197 00:10:32,240 --> 00:10:35,360 Speaker 1: to seven over Purdue. Mississippi State won it's bowl game 198 00:10:35,400 --> 00:10:38,160 Speaker 1: for coach Mike Leach. You recently passed away and an 199 00:10:38,160 --> 00:10:41,839 Speaker 1: amazing Cotton Bowl went for two lane trailed USC by 200 00:10:41,880 --> 00:10:44,720 Speaker 1: fifteen was just over four minutes left to its first league. 201 00:10:44,720 --> 00:10:47,440 Speaker 1: With nine seconds left, two lane one forty six foot 202 00:10:47,480 --> 00:10:49,920 Speaker 1: and five Nick's back at the Guard held Phoenix only 203 00:10:49,920 --> 00:10:52,959 Speaker 1: eleven first quarter points, beat the cold shooting Suns one 204 00:10:52,960 --> 00:10:55,680 Speaker 1: oh two to eighty three. Twelfth straight win for the 205 00:10:55,720 --> 00:10:57,959 Speaker 1: Nets to blow out of San Antonio at Barkley's one 206 00:10:58,040 --> 00:11:01,000 Speaker 1: thirty nine to one oh three and Cleveland's over time, 207 00:11:01,000 --> 00:11:04,760 Speaker 1: what over Chicago, the Cavs Donovan Mitchell scored seventy one 208 00:11:04,840 --> 00:11:07,559 Speaker 1: point most of the NBA SS Kobe Bryant's any one 209 00:11:07,600 --> 00:11:10,480 Speaker 1: point game in two thousand six, a year after Ruptors 210 00:11:10,480 --> 00:11:12,880 Speaker 1: stunt number one rank per Dow, it happened again, this 211 00:11:13,040 --> 00:11:17,040 Speaker 1: time on the road Scarlet Knights sixty four outdoor hockey 212 00:11:17,040 --> 00:11:19,600 Speaker 1: on usually warm New Year's Day in Boston, the Bruins 213 00:11:19,600 --> 00:11:21,920 Speaker 1: beat Pittsburgh to the one they had to sell out 214 00:11:21,920 --> 00:11:25,240 Speaker 1: crowd at ben Way Park. John Stactually Bloomberg Sports Nathan 215 00:11:25,360 --> 00:11:27,560 Speaker 1: all Right, John, thank you, and the Bloomberg Sports Report 216 00:11:27,640 --> 00:11:30,120 Speaker 1: was brought to you by Audie. Don't let someone else 217 00:11:30,200 --> 00:11:32,760 Speaker 1: drive off in the Outie model you've always wanted. Visit 218 00:11:32,760 --> 00:11:35,240 Speaker 1: your local Trice State autie dealer to get behind the 219 00:11:35,240 --> 00:11:38,280 Speaker 1: wheel of yours today, or visit Outie Offers dot com 220 00:11:38,640 --> 00:11:41,760 Speaker 1: for more information. SMP futures right now of thirty two 221 00:11:41,800 --> 00:11:44,880 Speaker 1: points down futures of tune to fifty one NASTAC futures 222 00:11:44,880 --> 00:11:47,400 Speaker 1: are hired by a hundred nine points ten year treasuries 223 00:11:47,480 --> 00:11:49,960 Speaker 1: up one and three thirty seconds. The yield three point 224 00:11:50,080 --> 00:11:53,120 Speaker 1: seven four percent. Yield on the two year right now 225 00:11:53,559 --> 00:11:58,240 Speaker 1: four point three five percent. You're listening to Bloomberg Daybreak 226 00:12:02,360 --> 00:12:05,760 Speaker 1: live from coast to coast, from New York to San Francisco, 227 00:12:05,960 --> 00:12:09,839 Speaker 1: Boston to Washington, d C. Nationwide on Sirius xamp, the 228 00:12:09,880 --> 00:12:14,520 Speaker 1: Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. 229 00:12:15,600 --> 00:12:17,839 Speaker 1: Good morning and happy New Year, Nathan Hagar and we 230 00:12:17,880 --> 00:12:20,360 Speaker 1: want to get more now on the situation in China, 231 00:12:20,480 --> 00:12:23,360 Speaker 1: something we continue to follow very closely. As we kick 232 00:12:23,400 --> 00:12:27,040 Speaker 1: off three, President Shi Jinping is now warning of tough 233 00:12:27,080 --> 00:12:30,240 Speaker 1: times ahead in his country's fight against COVID nineteen. He 234 00:12:30,320 --> 00:12:32,840 Speaker 1: said that in an address to his nation to mark 235 00:12:32,920 --> 00:12:35,200 Speaker 1: the new year. At the same time, we do see 236 00:12:35,280 --> 00:12:38,880 Speaker 1: some signs of optimism, that infections may have peaked in 237 00:12:38,920 --> 00:12:41,800 Speaker 1: some parts of the country, and that the Chinese economy 238 00:12:42,160 --> 00:12:44,600 Speaker 1: may be showing signs that it's starting to get a 239 00:12:44,600 --> 00:12:46,920 Speaker 1: bit of a lift. Let's bring in Bloomberg Chief Asia 240 00:12:46,960 --> 00:12:51,679 Speaker 1: Economics correspondent and occurrent to get more on the unfolding 241 00:12:51,720 --> 00:12:54,680 Speaker 1: situation in China and a good morning, happy New Year 242 00:12:54,720 --> 00:12:58,600 Speaker 1: to you. What does President She's New Year's address tell 243 00:12:58,640 --> 00:13:02,360 Speaker 1: you about the you approach the COVID in China? Are 244 00:13:02,360 --> 00:13:05,360 Speaker 1: we getting a sense now that zero tolerance really is 245 00:13:05,440 --> 00:13:09,000 Speaker 1: now fully a thing of the past. It's telling if 246 00:13:09,040 --> 00:13:11,720 Speaker 1: that China has moved away from over zero is happening 247 00:13:11,760 --> 00:13:15,560 Speaker 1: at a much faster pace than anyone could have anticipated. 248 00:13:16,000 --> 00:13:19,480 Speaker 1: We are seeing, though, however, a bigger economics ship than 249 00:13:19,520 --> 00:13:22,640 Speaker 1: money economists had anticipated when these when the relaxation that 250 00:13:22,720 --> 00:13:25,080 Speaker 1: measures was first announced. So we had some p m 251 00:13:25,080 --> 00:13:27,760 Speaker 1: I data over the weekend showing the hit to the 252 00:13:27,800 --> 00:13:32,000 Speaker 1: manufacturing and service inside in December was bigger than anticipated. 253 00:13:32,040 --> 00:13:35,800 Speaker 1: In particular, services took its biggest hits in every twenty 254 00:13:35,840 --> 00:13:38,480 Speaker 1: when the pandemic was getting on the way, and that 255 00:13:38,720 --> 00:13:41,240 Speaker 1: makes of course, as we know, the hit it's in 256 00:13:41,400 --> 00:13:46,160 Speaker 1: confidence consumer spending and the broader hit to industrial production 257 00:13:46,559 --> 00:13:48,960 Speaker 1: in China. Sore you comments from President Choosing things do 258 00:13:49,040 --> 00:13:52,960 Speaker 1: seem to under underscore the idea that the top of 259 00:13:52,960 --> 00:13:55,520 Speaker 1: the party believes that they can navigate their way out 260 00:13:55,600 --> 00:13:58,959 Speaker 1: of this. Of course, our colleagues are reporting a significant 261 00:13:59,000 --> 00:14:02,839 Speaker 1: impact on public health across China. Put to your point, 262 00:14:02,880 --> 00:14:06,600 Speaker 1: there are there are also some very tentative early signs 263 00:14:06,640 --> 00:14:09,480 Speaker 1: that perhaps the diseased outbreak is peaking in at least 264 00:14:09,480 --> 00:14:13,559 Speaker 1: some major cities at least, so the leadership may be 265 00:14:13,760 --> 00:14:17,239 Speaker 1: signaling that it sees a way to navigate this situation. 266 00:14:17,480 --> 00:14:22,680 Speaker 1: What do economists think about the outlook for China in three? 267 00:14:22,680 --> 00:14:27,320 Speaker 1: Are they starting to reassess their projections given the disappointing 268 00:14:27,400 --> 00:14:31,520 Speaker 1: data we've gotten in recent days. I think the assessments 269 00:14:31,520 --> 00:14:34,440 Speaker 1: are being recessed on an almost daily basis Natan, I mean, 270 00:14:34,440 --> 00:14:37,520 Speaker 1: obviously number one is the public health crisis. China has 271 00:14:37,560 --> 00:14:39,520 Speaker 1: to navigate that. But when you look at the eccom 272 00:14:39,520 --> 00:14:41,920 Speaker 1: excite of it, as you mentioned earlier, we're getting some 273 00:14:42,040 --> 00:14:45,280 Speaker 1: high frequency readings. Now, is that subway usage, for example, 274 00:14:45,320 --> 00:14:48,440 Speaker 1: in some major cities, including Baking, is actually picking up 275 00:14:48,440 --> 00:14:51,640 Speaker 1: And and as you're saying, that's pointing to perhaps greater 276 00:14:51,760 --> 00:14:53,800 Speaker 1: conference among consumers to get out and the bous the 277 00:14:53,880 --> 00:14:57,000 Speaker 1: health experts, it might be pointing to a peak in 278 00:14:57,080 --> 00:14:59,920 Speaker 1: the level of infections. So if and when trying to 279 00:15:00,080 --> 00:15:02,320 Speaker 1: gets through the house side of it, and don't forget 280 00:15:02,320 --> 00:15:04,080 Speaker 1: by the way, they first have to navigate the lunar 281 00:15:04,080 --> 00:15:06,080 Speaker 1: New Year holiday it's coming up here in a couple 282 00:15:06,120 --> 00:15:09,080 Speaker 1: of weeks. Then there is expected to be something of 283 00:15:09,120 --> 00:15:13,280 Speaker 1: a growth dividend for the economy. Consumers get motoring again, 284 00:15:13,760 --> 00:15:17,360 Speaker 1: tourists get spending and traveling both domestically, and of course 285 00:15:17,360 --> 00:15:19,840 Speaker 1: they will go to the rest of the world. Twoe again. 286 00:15:20,120 --> 00:15:22,120 Speaker 1: The real estate it's like they're in China, will get 287 00:15:22,120 --> 00:15:24,880 Speaker 1: a bit of a lift if ippos of all constiens 288 00:15:24,920 --> 00:15:28,280 Speaker 1: to get out about by property. So when you add 289 00:15:28,320 --> 00:15:30,880 Speaker 1: it up, there's expected to be something of a recovery, 290 00:15:31,240 --> 00:15:33,520 Speaker 1: maybe even a sharp recovery and challenge economies from the 291 00:15:33,520 --> 00:15:36,680 Speaker 1: middle of saying this year. But as I mentioned, there 292 00:15:36,680 --> 00:15:39,640 Speaker 1: are other headwinds happening at month as well. Global demand 293 00:15:39,640 --> 00:15:41,840 Speaker 1: for Chinese made goods and pretty weeks gets weighing on 294 00:15:42,200 --> 00:15:44,720 Speaker 1: exporters and I will take a lot, of course to 295 00:15:44,760 --> 00:15:48,440 Speaker 1: turn around the real estate slump, but nonetheless the existing 296 00:15:48,480 --> 00:15:51,160 Speaker 1: covered zero. It's proven to be quite chaotic, but at 297 00:15:51,160 --> 00:15:54,960 Speaker 1: the same time, ultimately it is expected to blend itself 298 00:15:55,040 --> 00:15:57,920 Speaker 1: forward and recovering economy in China. Did you mentioned the 299 00:15:58,040 --> 00:16:01,080 Speaker 1: Chinese New Year, the Lunar New Year, It'll be interesting 300 00:16:01,120 --> 00:16:03,800 Speaker 1: to see what kind of catalysts that could provide in 301 00:16:03,920 --> 00:16:05,680 Speaker 1: terms of what the outlook is going to be for 302 00:16:05,840 --> 00:16:10,840 Speaker 1: China going forward. Even further, what what's the signal that 303 00:16:10,880 --> 00:16:14,280 Speaker 1: you expect to see from the Lunar New Year given 304 00:16:14,600 --> 00:16:19,040 Speaker 1: potential trepidations among the Chinese people about how the COVID 305 00:16:19,120 --> 00:16:23,000 Speaker 1: situation could unfold, Well, exactly makes and I mean Lunar 306 00:16:23,040 --> 00:16:25,600 Speaker 1: New Year is the Christmas for China. Think about it 307 00:16:25,640 --> 00:16:29,120 Speaker 1: that way. So this is a huge migration when everybody 308 00:16:29,120 --> 00:16:31,040 Speaker 1: goes home to see their family. So again you have 309 00:16:31,080 --> 00:16:33,200 Speaker 1: to look at it through the public health lends. Number one. 310 00:16:33,240 --> 00:16:35,360 Speaker 1: A lot of animals are saying it will probably mean 311 00:16:36,000 --> 00:16:38,760 Speaker 1: bigger and faster spread of the disease in rural and 312 00:16:38,800 --> 00:16:41,760 Speaker 1: the regional China. And of course that pressure is the hospitals, 313 00:16:41,920 --> 00:16:45,120 Speaker 1: and that's does exactly lend itself towards boy and consumer confidence. 314 00:16:45,360 --> 00:16:49,400 Speaker 1: But again providing the authorities can navigate that by minimizing 315 00:16:49,440 --> 00:16:52,440 Speaker 1: the health effect. The thinking is that you know, the 316 00:16:52,480 --> 00:16:55,760 Speaker 1: more China starts to simon, don feed and adjust to 317 00:16:55,960 --> 00:16:58,400 Speaker 1: life with COVID, the more it will lend itself to 318 00:16:58,480 --> 00:17:02,200 Speaker 1: a more normalizing economy in terms of work practices we're 319 00:17:02,240 --> 00:17:04,280 Speaker 1: seeing from times at the industrial e thank is getting 320 00:17:04,320 --> 00:17:07,560 Speaker 1: back on speed already. For example, the the Apple, the 321 00:17:07,600 --> 00:17:10,040 Speaker 1: big Apple plant, the iPhone city as it's known, is 322 00:17:10,080 --> 00:17:15,320 Speaker 1: back towards production that people are closely watching for signs 323 00:17:15,320 --> 00:17:17,359 Speaker 1: of recovering and supply chains which just seems to be 324 00:17:17,440 --> 00:17:20,560 Speaker 1: happening at the moment. And as I mentioned to you, 325 00:17:20,880 --> 00:17:23,160 Speaker 1: the more tonic and adjusting with the more we will 326 00:17:23,240 --> 00:17:27,480 Speaker 1: lend itself towards a normalizing consumer and normalizing industrial dates 327 00:17:27,680 --> 00:17:29,760 Speaker 1: and of course that will end itself towards a more 328 00:17:29,800 --> 00:17:34,960 Speaker 1: productive Chinese economy. Yeah, we're still very every We're still 329 00:17:35,040 --> 00:17:37,120 Speaker 1: very early in this stat and I think coming weeks 330 00:17:37,119 --> 00:17:39,000 Speaker 1: and months they're going through offer a lot of clarity 331 00:17:39,040 --> 00:17:42,439 Speaker 1: on absolutely. Thanks for this as always and great to 332 00:17:42,440 --> 00:17:44,560 Speaker 1: have you on with us and the current chief Asia 333 00:17:44,600 --> 00:17:48,960 Speaker 1: Economics correspondent for Bloomberg News. Looking at the offshore you on, 334 00:17:49,280 --> 00:17:52,680 Speaker 1: it is strengthening slightly against the dollar at six point 335 00:17:52,800 --> 00:17:56,320 Speaker 1: nine two three two, and futures are higher on this 336 00:17:56,400 --> 00:18:02,640 Speaker 1: first trading day of twenty three. This is Bloomberg Markets 337 00:18:02,720 --> 00:18:05,800 Speaker 1: headlines and breaking news twenty four hours a day at 338 00:18:05,840 --> 00:18:09,800 Speaker 1: Bloomberg dot Com at Bloomberg Business Outland at Bloomberg Quick Tape. 339 00:18:09,960 --> 00:18:19,000 Speaker 1: Please she's a Bloomberg Business lash and I'm Karen Moscow. 340 00:18:19,040 --> 00:18:21,800 Speaker 1: And this updates brought to you by Innovation Refunds. This 341 00:18:21,920 --> 00:18:24,960 Speaker 1: is your daily reminder from Innovation Refunds to apply for 342 00:18:25,040 --> 00:18:28,280 Speaker 1: a payroll tax refund of your smaller medium sized business 343 00:18:28,440 --> 00:18:32,840 Speaker 1: was impacted by COVID nineteen. Innovation Refunds clients already claimed 344 00:18:32,840 --> 00:18:36,480 Speaker 1: over two billion dollars in payroll tax refunds. Gets started 345 00:18:36,520 --> 00:18:40,840 Speaker 1: at get refunds dot com. And futures are higher this morning. 346 00:18:40,840 --> 00:18:42,960 Speaker 1: We checked the markets all day long year on bloomberg 347 00:18:43,080 --> 00:18:45,080 Speaker 1: s and P futures up thirty two points, up a 348 00:18:45,160 --> 00:18:47,639 Speaker 1: tens of upper cent. Dal Future is up eight tens 349 00:18:47,640 --> 00:18:50,280 Speaker 1: of upper center two hundred fifty six points. At madsday 350 00:18:50,359 --> 00:18:53,119 Speaker 1: futures up one percent for one hundred eight points. The 351 00:18:53,240 --> 00:18:56,000 Speaker 1: decks in Germany's up one at a quarter percent. Ten 352 00:18:56,080 --> 00:18:59,120 Speaker 1: year treasury up one the yeld three point seven five 353 00:18:59,160 --> 00:19:01,440 Speaker 1: percent a yell, then a two year four point three 354 00:19:01,520 --> 00:19:04,520 Speaker 1: five percent. Nine nights screwed oil is down one point 355 00:19:04,560 --> 00:19:07,360 Speaker 1: one percent on ninety one cents at seventy thirty five 356 00:19:07,359 --> 00:19:10,160 Speaker 1: cents in barrel. Comic School is up seven tenths per center. 357 00:19:10,200 --> 00:19:13,000 Speaker 1: Twolve dollars thirty cents at eighteen and thirty eight fifty 358 00:19:13,000 --> 00:19:16,040 Speaker 1: announced the euro one point oh five to five against 359 00:19:16,040 --> 00:19:18,440 Speaker 1: the dollar. British found one point one nine to three, 360 00:19:19,040 --> 00:19:21,560 Speaker 1: and that's a Bloomberg business flash. Now here's Michael Barr 361 00:19:21,720 --> 00:19:24,320 Speaker 1: with more on what's going on around the world. Michael Karen. 362 00:19:24,400 --> 00:19:28,359 Speaker 1: Representative Kevin McCarthy's chances of becoming House Speaker remain endowed 363 00:19:28,400 --> 00:19:32,359 Speaker 1: as Republicans formally take control of the Chamber today. McCarthy 364 00:19:32,359 --> 00:19:35,040 Speaker 1: can't lose more than four GOP votes in his bid 365 00:19:35,080 --> 00:19:38,960 Speaker 1: for speaker. In the NBA, the Knicks, Nets, Warriors, and 366 00:19:39,040 --> 00:19:43,359 Speaker 1: Cavaliers won. Cleveland's Donovan Mitchell scored seventy one points. In hockey, 367 00:19:43,400 --> 00:19:47,000 Speaker 1: the Bruins one Bill's defensive mac Tomar Hamlet is in 368 00:19:47,040 --> 00:19:50,080 Speaker 1: critical condition after he suffered a cardiac arrest on the field. 369 00:19:50,400 --> 00:19:53,760 Speaker 1: Monday nights game has been postponed against the Bengals. Funeral 370 00:19:53,840 --> 00:19:56,679 Speaker 1: services take place today for soccer great Pele and Brazil, 371 00:19:56,720 --> 00:19:59,360 Speaker 1: who died last week at age eighty two. Global News 372 00:19:59,400 --> 00:20:01,199 Speaker 1: twenty four hour was a day on the RAN on 373 00:20:01,200 --> 00:20:04,200 Speaker 1: Bloomberg Quick Take powered by more than twenty seven hundred 374 00:20:04,240 --> 00:20:07,320 Speaker 1: journalist and antalyist more than a D twenty countries. Michael Barr, 375 00:20:07,440 --> 00:20:10,240 Speaker 1: this is Bloomberg, all right, Michael, Thanks at six on 376 00:20:10,240 --> 00:20:13,080 Speaker 1: Wall Street. I'm Nathan Hagar. This is Bloomberg day Break. 377 00:20:13,080 --> 00:20:14,960 Speaker 1: We want to focus now in a couple of Elon 378 00:20:15,040 --> 00:20:19,040 Speaker 1: Musk led companies that aren't Twitter. We're watching shares of 379 00:20:19,080 --> 00:20:22,000 Speaker 1: Tesla this morning. They're down two and two thirds percent 380 00:20:22,119 --> 00:20:25,119 Speaker 1: in early trading after the electric vehicle maker hit a 381 00:20:25,160 --> 00:20:28,520 Speaker 1: new record for deliveries in its latest quarter, but uh 382 00:20:28,600 --> 00:20:32,239 Speaker 1: still short of Wall Street estimates, and space X is 383 00:20:32,359 --> 00:20:35,879 Speaker 1: reportedly entering a new fundraising round that would value the 384 00:20:35,960 --> 00:20:39,080 Speaker 1: rocket company at a hundred thirty seven billion dollars. Let's 385 00:20:39,080 --> 00:20:41,760 Speaker 1: bring in Alex Web for more on these stories. Bloomberg 386 00:20:41,800 --> 00:20:45,040 Speaker 1: Quick Take correspondent and our go to guy for tech 387 00:20:45,160 --> 00:20:48,760 Speaker 1: and in recent weeks all things Elon Musk related. Alex, 388 00:20:48,840 --> 00:20:50,800 Speaker 1: Good morning. Great to have you with us on this 389 00:20:51,040 --> 00:20:54,240 Speaker 1: first trading day of the new year. So a Tesla 390 00:20:54,280 --> 00:20:57,879 Speaker 1: posted a new quarterly delivery record, but not enough to 391 00:20:57,920 --> 00:21:01,359 Speaker 1: meet Wall Street or even I guess Elon us on expectations. 392 00:21:01,359 --> 00:21:04,360 Speaker 1: Did he set the bar too high. Well, it's only 393 00:21:04,359 --> 00:21:07,040 Speaker 1: seems so. They had um you know, the company and 394 00:21:07,080 --> 00:21:11,040 Speaker 1: forecast expanding deliveries by they managed to expand it by 395 00:21:11,080 --> 00:21:15,920 Speaker 1: about the target was the analyst consensus was four one 396 00:21:16,000 --> 00:21:21,320 Speaker 1: thousand vehicles hit four hundred five thousand. That's even with 397 00:21:21,520 --> 00:21:25,159 Speaker 1: some heavy discounting that came in. It speaks to the 398 00:21:25,359 --> 00:21:29,040 Speaker 1: slowness in the automotive industry, and of course especially in 399 00:21:29,119 --> 00:21:31,640 Speaker 1: electric vehicles where the price point tends to be quite 400 00:21:31,640 --> 00:21:34,160 Speaker 1: a bit higher. So is this just a story about 401 00:21:34,280 --> 00:21:38,760 Speaker 1: softening demand overall for automobiles at this point in the 402 00:21:39,400 --> 00:21:41,880 Speaker 1: in the macroeconomic environment, or does this say something about 403 00:21:41,920 --> 00:21:46,600 Speaker 1: Elon Musk's leadership. I mean, it's certainly there is a 404 00:21:46,640 --> 00:21:50,760 Speaker 1: macro story here. The ability to pivot and um you know, 405 00:21:51,800 --> 00:21:55,840 Speaker 1: still remain appealing as a stop to investors is going 406 00:21:55,880 --> 00:21:57,880 Speaker 1: to be a big challenge here and says something about 407 00:21:57,880 --> 00:21:59,879 Speaker 1: his dealership. If you look at the valuation of the Star, 408 00:22:00,480 --> 00:22:02,760 Speaker 1: it has come down from a hundred forty times forward 409 00:22:02,800 --> 00:22:07,240 Speaker 1: earnings multiple down to twenty three times forward earnings in 410 00:22:07,280 --> 00:22:10,320 Speaker 1: the past twelve months, still a massive premium to the 411 00:22:10,359 --> 00:22:12,960 Speaker 1: likes of Ford and g g M, which traded about 412 00:22:13,000 --> 00:22:15,520 Speaker 1: six times their forward earning spokes bog and four times 413 00:22:15,520 --> 00:22:17,919 Speaker 1: forward earnings. You know, so if you look about as 414 00:22:17,960 --> 00:22:20,000 Speaker 1: a metric, it might have a long way to come, 415 00:22:20,040 --> 00:22:23,440 Speaker 1: and Elon Musk has to try and do something to 416 00:22:23,440 --> 00:22:25,439 Speaker 1: to pep it up again. Well, let's talk about this 417 00:22:25,480 --> 00:22:27,840 Speaker 1: report that SpaceX is entering. You knew what is it? 418 00:22:27,920 --> 00:22:31,399 Speaker 1: Seven or fifty million dollar fundraising round? I guess this 419 00:22:31,520 --> 00:22:35,520 Speaker 1: is is from CNBC. Elon Musk had denied of similar 420 00:22:35,560 --> 00:22:38,080 Speaker 1: report from Bloomberg last month. What do you make of 421 00:22:38,119 --> 00:22:45,080 Speaker 1: this latest report. It's certainly looks as though he's unlikely 422 00:22:45,119 --> 00:22:48,360 Speaker 1: to be taking the company public anytime soon, which had 423 00:22:48,400 --> 00:22:50,560 Speaker 1: been something that people had mooted. It's obviously not a 424 00:22:50,600 --> 00:22:54,600 Speaker 1: great time to take any company public right now. It 425 00:22:54,680 --> 00:22:57,960 Speaker 1: does seem to corroborate Bloomberg's reporting. The valuations a little 426 00:22:57,960 --> 00:23:02,359 Speaker 1: below the hundred forty billion dollars Bloomberger reported a month ago. Uh, 427 00:23:02,400 --> 00:23:04,720 Speaker 1: it's the NBC reporting that it's a hundred and thirty 428 00:23:04,760 --> 00:23:10,520 Speaker 1: seven billion dollars. The investors look like to be a 429 00:23:10,560 --> 00:23:14,040 Speaker 1: sort of classic Elon most backers. Danient Horrowitz found a 430 00:23:14,119 --> 00:23:16,680 Speaker 1: fans the choir, people who are generally quite close to 431 00:23:16,760 --> 00:23:20,000 Speaker 1: him and his company's you know, it hasn't eat the capital. 432 00:23:20,000 --> 00:23:23,040 Speaker 1: It's still investing in new projects, even though it is 433 00:23:23,200 --> 00:23:27,000 Speaker 1: able to generate a decent revenue from from the project 434 00:23:27,080 --> 00:23:29,600 Speaker 1: that it already has. This is an expanding company trying 435 00:23:29,640 --> 00:23:32,800 Speaker 1: lots of exciting new things, all right, Alex Webb as 436 00:23:32,840 --> 00:23:35,720 Speaker 1: always great to have young with us. Alex Webb, Bloomberg 437 00:23:35,800 --> 00:23:38,879 Speaker 1: Quick Take correspondent and taking a look at Testla shares 438 00:23:39,000 --> 00:23:43,200 Speaker 1: right now. Uh, they are down two point seven per cent, 439 00:23:43,880 --> 00:23:48,280 Speaker 1: bucking the broader market. Futures are moving higher this morning. 440 00:23:48,320 --> 00:23:51,640 Speaker 1: We've got to look at your top stories, local headlines, 441 00:23:51,920 --> 00:23:54,880 Speaker 1: A fuller check of markets just ahead. First, let's bring 442 00:23:54,920 --> 00:23:58,320 Speaker 1: in Bloomberg meteorologist Rob Carolin for a look at your 443 00:23:58,359 --> 00:24:02,200 Speaker 1: weather forecast. Unsettled weather headed our way as an area 444 00:24:02,240 --> 00:24:04,399 Speaker 1: of low pressure passes west of the region over the 445 00:24:04,440 --> 00:24:06,720 Speaker 1: next twenty four hours. They'll be cloudy today, some rain 446 00:24:06,760 --> 00:24:09,520 Speaker 1: will develop later in the morning. Mile today fifty five 447 00:24:09,600 --> 00:24:12,840 Speaker 1: to sixty scattered showers and during the evening lose Tonight 448 00:24:12,840 --> 00:24:15,879 Speaker 1: fifty or fifty five. Tomorrow looks like another round of 449 00:24:15,960 --> 00:24:18,200 Speaker 1: rain moving through. High will be close to sixty a 450 00:24:18,240 --> 00:24:21,680 Speaker 1: few showers. Thursday fifty to fifty five. I'm Rob Carolyn 451 00:24:21,760 --> 00:24:26,280 Speaker 1: with your three day forecast on Bloomberg eleven three oh 452 00:24:26,800 --> 00:24:31,359 Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York. 453 00:24:31,440 --> 00:24:35,160 Speaker 1: Bloomberg Eloving Freedom to Washington, d C, Bloomberg ninety nine 454 00:24:35,240 --> 00:24:38,760 Speaker 1: one to Boston, Bloomberg on A six one to San Francisco, 455 00:24:38,840 --> 00:24:42,280 Speaker 1: Bloomberg nine sixty to the country, Sirius XM Chado one 456 00:24:42,359 --> 00:24:45,440 Speaker 1: nine and around the globe the Bloomberg Business app and 457 00:24:45,520 --> 00:24:55,159 Speaker 1: Bloomberg Radio dot com. This is Bloomberg Daybreak coming up 458 00:24:55,200 --> 00:24:57,200 Speaker 1: on six thirty on Wall Street. Good morning, I'm Nathan 459 00:24:57,240 --> 00:25:00,280 Speaker 1: Hagger and I'm Karen Moscow. We're just about three hours 460 00:25:00,320 --> 00:25:02,399 Speaker 1: away from the open of US trading. Time to the 461 00:25:02,400 --> 00:25:04,640 Speaker 1: five things that you need to notice start your day. 462 00:25:04,680 --> 00:25:08,000 Speaker 1: Brought to you by I d k R Investment Advisors 463 00:25:08,000 --> 00:25:11,159 Speaker 1: switched to Interactive Brokers for lowest cost global trading and 464 00:25:11,200 --> 00:25:14,679 Speaker 1: turnkey custody solutions, no ticket charges and no conflicts of 465 00:25:14,720 --> 00:25:16,959 Speaker 1: your interests at I d k R dot com slash 466 00:25:17,200 --> 00:25:19,960 Speaker 1: r i A first, you begin the trading year with 467 00:25:20,040 --> 00:25:24,040 Speaker 1: gains for equities accompanied by on certain market sentiment. Bloomberg 468 00:25:24,359 --> 00:25:27,240 Speaker 1: Rappaport joins us Live with that story, Steve, Good morning, 469 00:25:27,320 --> 00:25:30,000 Speaker 1: Good morning, Karen and Nathan. Futures point to a good 470 00:25:30,000 --> 00:25:32,960 Speaker 1: start for equities after they lost twenty percent in value 471 00:25:33,040 --> 00:25:37,760 Speaker 1: during the tumultuous year. Investors are waiting into with uncertainty, 472 00:25:37,800 --> 00:25:41,280 Speaker 1: but with that comes potential opportunity. I e Q Advisors 473 00:25:41,280 --> 00:25:45,639 Speaker 1: co CEO Alan Zaffron, You should be slowly methodically buying 474 00:25:45,680 --> 00:25:49,399 Speaker 1: into the weakness because inevitably the economy will bottom, the 475 00:25:49,440 --> 00:25:51,880 Speaker 1: FED will pivot, people will look forward to much better 476 00:25:51,920 --> 00:25:54,560 Speaker 1: growth in two thousand twenty four, and once that happens, 477 00:25:54,600 --> 00:25:57,720 Speaker 1: Zaffron predicts, investors will be quote off to the races again. 478 00:25:57,880 --> 00:26:01,520 Speaker 1: Live in New York. I'm Steve Rappaport, Bloomberg Daybreak. Alright, Steve. Thanks. 479 00:26:01,520 --> 00:26:04,960 Speaker 1: Turning overseas, COVID remains front and center in China, President 480 00:26:05,000 --> 00:26:07,040 Speaker 1: Shi Jin Ping says his country is moving into a 481 00:26:07,040 --> 00:26:09,320 Speaker 1: new phase as it continues its COVID pivot. In the 482 00:26:09,320 --> 00:26:13,720 Speaker 1: New Year address, she warned of hard times ahead. With 483 00:26:13,800 --> 00:26:19,320 Speaker 1: extraordinary efforts, China has prevailed over unprecedented difficulties and challenges, 484 00:26:19,600 --> 00:26:22,280 Speaker 1: and it has not been an easy journey for anyone. 485 00:26:22,480 --> 00:26:24,880 Speaker 1: We have now entered a new phase of COVID response, 486 00:26:24,960 --> 00:26:28,159 Speaker 1: where tough challenges remain in Chinese President Hijin Ping did 487 00:26:28,200 --> 00:26:30,960 Speaker 1: not acknowledge recent protests over COVID directly, but he did 488 00:26:30,960 --> 00:26:33,520 Speaker 1: say it's only natural for people who have different concerns 489 00:26:33,560 --> 00:26:36,520 Speaker 1: and views on issues. Well Nathan I am F Managing 490 00:26:36,560 --> 00:26:40,960 Speaker 1: Director Krystalina Georgieva also sees tough times ahead. She expects 491 00:26:40,960 --> 00:26:43,640 Speaker 1: one through to the world to fall into recession this year. 492 00:26:43,920 --> 00:26:46,640 Speaker 1: This is going to be a toughier, tougher than dear 493 00:26:46,760 --> 00:26:52,720 Speaker 1: we leave behind. Why because the three bank economies US, EU, 494 00:26:52,960 --> 00:26:59,080 Speaker 1: China are all flowing down. Hi MF Managing Director Krystallina Georgieva, 495 00:26:59,160 --> 00:27:01,879 Speaker 1: speaking on CBS is Face the Nation Catch the program 496 00:27:02,080 --> 00:27:04,800 Speaker 1: Sunday afternoons on Bloomberg Radio. Well, this will be a 497 00:27:04,800 --> 00:27:07,320 Speaker 1: big day in DC, Karen, A new Congress will be 498 00:27:07,359 --> 00:27:09,800 Speaker 1: seated and a new Speaker of the House selected, though 499 00:27:09,800 --> 00:27:13,159 Speaker 1: the latter is expected to be a showdown. Kevin McCarthy 500 00:27:13,320 --> 00:27:15,119 Speaker 1: was in line to be Speaker, but he can't afford 501 00:27:15,160 --> 00:27:18,920 Speaker 1: to lose more than four Republican votes, and several Republican 502 00:27:18,920 --> 00:27:21,920 Speaker 1: members still have not promised their support. If McCarthy is 503 00:27:21,960 --> 00:27:24,720 Speaker 1: not elected, we could see a multi ballot vote to 504 00:27:24,800 --> 00:27:27,240 Speaker 1: determine the next House speaker, and that hasn't happened since 505 00:27:27,440 --> 00:27:31,720 Speaker 1: nine three. Well, Nathan, futures are higher this morning. SNP 506 00:27:31,840 --> 00:27:34,480 Speaker 1: futures up thirty two points or eight tens of uppercent, 507 00:27:34,640 --> 00:27:36,879 Speaker 1: Own futures up about eight tens of upper cent or 508 00:27:36,880 --> 00:27:40,080 Speaker 1: two hundred fifty six points. And nowasday futures have one 509 00:27:40,160 --> 00:27:43,040 Speaker 1: percent or one hundred eight points. The decks in Germany 510 00:27:43,320 --> 00:27:45,920 Speaker 1: up one point three percent, and the ten year treasury 511 00:27:46,040 --> 00:27:48,400 Speaker 1: is up one the yeld three point seven five percent, 512 00:27:48,640 --> 00:27:50,680 Speaker 1: and they yield on a two year four point three 513 00:27:50,760 --> 00:27:53,399 Speaker 1: five percent. And as the five things you need to 514 00:27:53,400 --> 00:27:56,560 Speaker 1: notice start your day, brought to you by Interactive Brokers, 515 00:27:56,720 --> 00:28:03,360 Speaker 1: your latest local headlines straight ahead. This is Bloomberg Thank 516 00:28:03,400 --> 00:28:05,199 Speaker 1: You Card at six thirty one on Wall Street, and 517 00:28:05,240 --> 00:28:07,199 Speaker 1: Michael Barre is here with what's going on in New 518 00:28:07,280 --> 00:28:10,040 Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan. 519 00:28:10,080 --> 00:28:13,760 Speaker 1: George Santos, the Republican Congressman elect from New York, faces 520 00:28:13,800 --> 00:28:16,960 Speaker 1: new legal trouble after he admitted lying about much of 521 00:28:17,000 --> 00:28:20,240 Speaker 1: his resume. Prosecutors in Brazil now say that they are 522 00:28:20,320 --> 00:28:23,919 Speaker 1: reopening a fraud case against Santos in connection with the 523 00:28:23,960 --> 00:28:26,760 Speaker 1: stolen check used in the country back in two thousand 524 00:28:26,800 --> 00:28:29,960 Speaker 1: and eight. The case was suspended until now because police 525 00:28:30,000 --> 00:28:33,879 Speaker 1: cannot find Santos. A man facing first grade murder charges 526 00:28:33,920 --> 00:28:36,879 Speaker 1: the murders of Ford University of Idaho students, is not 527 00:28:37,000 --> 00:28:40,160 Speaker 1: expected to find extradition at a hearing today. In Pennsylvania, 528 00:28:40,560 --> 00:28:44,200 Speaker 1: Brian Coberger was taken into custody late last week at 529 00:28:44,240 --> 00:28:47,600 Speaker 1: his parents home in the Poconots. Law enforcement sources say 530 00:28:47,640 --> 00:28:51,000 Speaker 1: forensic analysis allegedly linked him to the killings. C. C. 531 00:28:51,200 --> 00:28:55,240 Speaker 1: Moore's an expert on DNA testing. In a very personal 532 00:28:55,360 --> 00:28:58,640 Speaker 1: instimate violet crime like this one, it's virtually impossible not 533 00:28:58,720 --> 00:29:01,880 Speaker 1: to leave your DNA behind. We have such sensitive equipment 534 00:29:01,880 --> 00:29:05,600 Speaker 1: now you could leave behind touch DNA and that could 535 00:29:05,600 --> 00:29:10,000 Speaker 1: be enough to perform this type of analysis, DNA expert 536 00:29:10,040 --> 00:29:12,720 Speaker 1: CC moore. The man accused of shooting up a New 537 00:29:12,760 --> 00:29:15,600 Speaker 1: York City subway in Brooklyn, is scheduled to plead guilty 538 00:29:15,600 --> 00:29:19,360 Speaker 1: to federal terrorism charges. Frank James will appear in federal 539 00:29:19,440 --> 00:29:23,520 Speaker 1: court this afternoon. Prosecutors say during the April twelfth attack, 540 00:29:23,960 --> 00:29:27,120 Speaker 1: James set off smoke bombs before he opened fire on 541 00:29:27,160 --> 00:29:30,640 Speaker 1: a train as it approached the Sunset Park station. At 542 00:29:30,680 --> 00:29:33,200 Speaker 1: least twenty two people were injured after a car crashed 543 00:29:33,200 --> 00:29:36,680 Speaker 1: into a building in Manhattan last night. The incident happened 544 00:29:36,720 --> 00:29:40,280 Speaker 1: at the West two fourth Street in Broadway in wood 545 00:29:40,280 --> 00:29:43,760 Speaker 1: Bar Grill. The Vatican estimated sixty five thousand people filed 546 00:29:43,800 --> 00:29:46,600 Speaker 1: past the body of Pope Benedict yesterday lying in state. 547 00:29:46,960 --> 00:29:58,480 Speaker 1: This Ukrainian mourner was there. Benedict died at a global 548 00:29:58,480 --> 00:30:01,000 Speaker 1: news twenty four hours a day on errand on Bloomberg 549 00:30:01,080 --> 00:30:04,040 Speaker 1: quick Take, powered by more than journalists and analysts more 550 00:30:04,080 --> 00:30:06,880 Speaker 1: than a hundred twenty countries. Michael Barr, This is Bloomberg. 551 00:30:06,960 --> 00:30:13,760 Speaker 1: Nathan all right, Michael, thanks six thirty three on Wall 552 00:30:13,800 --> 00:30:15,920 Speaker 1: Street time for the Bloomberg Sports update, brought to you 553 00:30:15,920 --> 00:30:18,000 Speaker 1: by tri State. Out of here again is John Statshow 554 00:30:18,080 --> 00:30:20,960 Speaker 1: all right, Nathan. Buffalo Bill safety Damar Hamlin is in 555 00:30:21,000 --> 00:30:24,840 Speaker 1: a Cincinnati hospital. He's listed in critical condition. His Bill's 556 00:30:24,880 --> 00:30:27,240 Speaker 1: teammates are now back in Buffalo. It's not known when 557 00:30:27,280 --> 00:30:30,320 Speaker 1: their game with the Bengals will resume. It happened in 558 00:30:30,360 --> 00:30:33,120 Speaker 1: the first quarter at catched by the Bengals Tee Higgins 559 00:30:33,160 --> 00:30:35,520 Speaker 1: and a tackle made by the twenty four year old Hamlin, 560 00:30:35,600 --> 00:30:37,960 Speaker 1: who stood up but then fell backwards. He had gone 561 00:30:38,000 --> 00:30:41,720 Speaker 1: into cardiac ar s CPR was given and his heartbeat 562 00:30:41,840 --> 00:30:45,120 Speaker 1: was restored on the field. It took sixteen minutes before 563 00:30:45,160 --> 00:30:48,440 Speaker 1: Hamlin finally left the field in an ambulance, and it 564 00:30:48,520 --> 00:30:51,040 Speaker 1: was clear that neither team was in any kind of 565 00:30:51,040 --> 00:30:53,800 Speaker 1: a mood to be able to continue playing the game, 566 00:30:53,840 --> 00:30:55,480 Speaker 1: which was a big one of the a sc standing, 567 00:30:55,600 --> 00:30:59,160 Speaker 1: so it was postponed. Season finale. Sunday for the Jets, 568 00:30:59,160 --> 00:31:01,720 Speaker 1: they visit Miami, battle of teams who both lost five straight. 569 00:31:01,800 --> 00:31:03,520 Speaker 1: Dolphins still in it for a playoff, Firth that they 570 00:31:03,560 --> 00:31:06,880 Speaker 1: need help. Miami will again be without it's quarterback to 571 00:31:07,000 --> 00:31:09,320 Speaker 1: a tongue of below A. Jets coach Robert Salis that 572 00:31:09,400 --> 00:31:12,680 Speaker 1: he still has full confidence in his much maligned offensive 573 00:31:12,720 --> 00:31:16,920 Speaker 1: coordinator Mike la Fleur. The playoff bound Giants Sunday visit Philadelphia, 574 00:31:16,920 --> 00:31:19,800 Speaker 1: who needs the win to secure the NFC's one seed 575 00:31:19,840 --> 00:31:21,960 Speaker 1: and the Eagles hope to get there. QB Jalen Herds, 576 00:31:21,960 --> 00:31:24,320 Speaker 1: back from injury, Nix at the Garden to be Phoenix 577 00:31:24,360 --> 00:31:26,840 Speaker 1: one oh two to eighty three for Julius Randall's twenty 578 00:31:26,880 --> 00:31:29,680 Speaker 1: eight points, sixteen remounds in Jalen Brunson, back from the 579 00:31:29,760 --> 00:31:32,440 Speaker 1: hip injury, scored twenty four easy win for the Red 580 00:31:32,480 --> 00:31:34,920 Speaker 1: Hot Nets one thirty nine to one oh three over 581 00:31:34,960 --> 00:31:37,920 Speaker 1: San Antonio. That's now twelve wins in a rows being 582 00:31:37,920 --> 00:31:41,200 Speaker 1: a Red Hot. Cleveland's Donovan Mitchell sports seventy one points 583 00:31:41,480 --> 00:31:44,360 Speaker 1: and overtime win for the Cavs. College hoops Rutgers stunt 584 00:31:44,440 --> 00:31:46,920 Speaker 1: top ranked per Due, just as the Scarlett Knights did 585 00:31:47,200 --> 00:31:50,360 Speaker 1: a year ago. John stash Award Bloomberg Sports Nathan brought 586 00:31:50,360 --> 00:31:52,520 Speaker 1: to buy OUTI don't let someone else drive off in 587 00:31:52,560 --> 00:31:54,880 Speaker 1: the OUTI model. You've always wanted to visit your local 588 00:31:54,960 --> 00:31:56,840 Speaker 1: price state autie dealer to get behind the wheel of 589 00:31:56,840 --> 00:31:59,920 Speaker 1: yours today, or visit outie Offers dot com for more information. 590 00:32:01,400 --> 00:32:03,920 Speaker 1: Six thirty five on Wall Street, Bloomberg Radio is on 591 00:32:03,960 --> 00:32:06,640 Speaker 1: the air from San Francisco to New York, London to 592 00:32:06,720 --> 00:32:09,160 Speaker 1: Hong Kong. Let's check in with our global news team 593 00:32:09,240 --> 00:32:11,400 Speaker 1: for some of the top stories heard on our three 594 00:32:11,440 --> 00:32:18,320 Speaker 1: hundred affiliate radio stations around the world. I'm Steve Podas 595 00:32:18,440 --> 00:32:21,760 Speaker 1: on kN X in Los Angeles. We're talking about fast, casual, 596 00:32:21,880 --> 00:32:25,360 Speaker 1: healthy eatery, sweet green teaming up with fitness and lifestyle 597 00:32:25,400 --> 00:32:29,360 Speaker 1: influencer Melissa Wood Tepperberg. I'm Gina Servetti and for k 598 00:32:29,520 --> 00:32:33,600 Speaker 1: CBS in San Francisco. I'm reporting that Tesla delivered fewer 599 00:32:33,680 --> 00:32:37,360 Speaker 1: vehicles than what Wall Street expected last quarters. I'm Jeff 600 00:32:37,360 --> 00:32:40,560 Speaker 1: Bullinger and on w tv N and Columbus, I'll be 601 00:32:40,600 --> 00:32:43,880 Speaker 1: talking about the new ranking of the airlines and airports 602 00:32:43,960 --> 00:32:47,720 Speaker 1: that were the most on time in two I'm Stephen 603 00:32:47,760 --> 00:32:50,120 Speaker 1: Carol and Bloomberg d a B Radio in London. We've 604 00:32:50,120 --> 00:32:52,400 Speaker 1: been reporting on a fresh rand of rail strikes, putting 605 00:32:52,440 --> 00:32:55,640 Speaker 1: pressure on the UK governments as healthcare unions prepared for 606 00:32:55,680 --> 00:32:59,160 Speaker 1: another rand of walkouts. I made Cory on w w 607 00:32:59,320 --> 00:33:02,960 Speaker 1: J in Detroit. I'm reporting some local shopping malls seemed 608 00:33:02,960 --> 00:33:05,880 Speaker 1: to be weathering the head winds facing other shopping centered 609 00:33:06,520 --> 00:33:09,520 Speaker 1: and those are some of the stories our hundred Bloomberg 610 00:33:09,600 --> 00:33:12,200 Speaker 1: journalists and analysts are working on this morning around the world. 611 00:33:12,240 --> 00:33:15,480 Speaker 1: It's six thirty six on Wall Street. The following commentary 612 00:33:15,600 --> 00:33:20,600 Speaker 1: is from Bloomberg Opinion. The pandemic drinking binge just keeps going. 613 00:33:20,840 --> 00:33:24,680 Speaker 1: I'm Justin Fox, the columnist for Bloomberg Opinion. The arrival 614 00:33:24,720 --> 00:33:28,600 Speaker 1: of COVID nineteen and the societal disruption that accompanied it 615 00:33:29,120 --> 00:33:32,240 Speaker 1: understandably drove a lot of Americans to drink. But even 616 00:33:32,240 --> 00:33:35,920 Speaker 1: his life is returned to normal, the drinking binge has continued. 617 00:33:36,200 --> 00:33:41,040 Speaker 1: As of November, Americans were spending fifteen percent more on beer, wine, 618 00:33:41,040 --> 00:33:45,760 Speaker 1: and liquor, adjusted for inflation than before the pandemic. That's 619 00:33:45,800 --> 00:33:49,160 Speaker 1: not exactly the same as saying we're drinking fifteen percent more, 620 00:33:49,440 --> 00:33:53,320 Speaker 1: but it's probably close. And before the pandemic, per capita 621 00:33:53,360 --> 00:33:57,960 Speaker 1: alcohol consumption had been rising slowly but steadily, also rising 622 00:33:57,960 --> 00:34:01,680 Speaker 1: our alcohol induced deaths, of which there were about twice 623 00:34:01,720 --> 00:34:04,360 Speaker 1: as many in two thousand twenty one as a decade ago, 624 00:34:05,040 --> 00:34:09,640 Speaker 1: and other collateral damage of excessive drinking, not rising federal 625 00:34:09,680 --> 00:34:12,680 Speaker 1: alcohol taxes, which have plummeted in real terms over the 626 00:34:12,719 --> 00:34:16,280 Speaker 1: past half century. Maybe we should change that. I'm justin Fox. 627 00:34:16,600 --> 00:34:19,560 Speaker 1: For more opinion, please go to Bloomberg dot com slash 628 00:34:19,600 --> 00:34:22,840 Speaker 1: Opinion or O P I N. Go on the Bloomberg terminal. 629 00:34:23,000 --> 00:34:25,960 Speaker 1: This has been Bloomberg opinion, and you can hear Bloomberg 630 00:34:26,000 --> 00:34:29,360 Speaker 1: opinion commentaries every weekday at this time, and terminal customers 631 00:34:29,400 --> 00:34:31,840 Speaker 1: can read more at O P I N. Go. No 632 00:34:32,000 --> 00:34:34,880 Speaker 1: commentary here, but Avatar The Way of Water is poised 633 00:34:34,920 --> 00:34:37,160 Speaker 1: to become the top selling movie that was released in 634 00:34:37,160 --> 00:34:40,640 Speaker 1: two It led US and Canadian box offices for a 635 00:34:40,760 --> 00:34:44,399 Speaker 1: third weekend in a row. Walt Disney Productions made one 636 00:34:44,440 --> 00:34:48,200 Speaker 1: point three eight billion dollars worldwide since its release on 637 00:34:48,280 --> 00:34:50,920 Speaker 1: December sixteenth. It's on track to surpass the one point 638 00:34:50,960 --> 00:34:55,000 Speaker 1: for nine billion that Paramounts top gun Maverick raked in 639 00:34:55,239 --> 00:35:02,719 Speaker 1: twenty twenty two. You're listening to Bloomberg Day Break, Markets, 640 00:35:02,800 --> 00:35:05,880 Speaker 1: headlines and breaking news twenty four hours a day at 641 00:35:05,920 --> 00:35:09,840 Speaker 1: Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg Quicktake. 642 00:35:10,080 --> 00:35:19,120 Speaker 1: This is a Bloomberg business lash. And I'm Karen Moscow 643 00:35:19,200 --> 00:35:21,000 Speaker 1: future is on the rise. This morning. We got the 644 00:35:21,000 --> 00:35:23,319 Speaker 1: first word breaking news desk for today's morning call. And 645 00:35:23,360 --> 00:35:27,240 Speaker 1: here's Bill Maloney. Bill, Good morning, Hey, good morning, Karen. 646 00:35:27,239 --> 00:35:29,640 Speaker 1: That's right. US futures are pointing to a higher open 647 00:35:29,680 --> 00:35:32,960 Speaker 1: without futures up fifty six points, SPS game thirty two, 648 00:35:33,000 --> 00:35:36,720 Speaker 1: and Nezic futures rise by one oh seven. The US 649 00:35:36,960 --> 00:35:39,680 Speaker 1: ten year old at three point seven five percent. Gold 650 00:35:39,760 --> 00:35:42,040 Speaker 1: is higher by nine. Oil trading in the red and 651 00:35:42,160 --> 00:35:46,279 Speaker 1: Bitcoin is little changed. Hong Kong rose one overnight, while 652 00:35:46,280 --> 00:35:48,720 Speaker 1: your pre markets are also in the green this morning. 653 00:35:49,000 --> 00:35:50,840 Speaker 1: And back in the US on the economic front at 654 00:35:50,880 --> 00:35:53,719 Speaker 1: night forty five US Global Manufacturing p m I and 655 00:35:53,800 --> 00:35:57,280 Speaker 1: at ten o'clock construction spending in on the new TESTA 656 00:35:57,400 --> 00:36:01,000 Speaker 1: deliveries missed estimates, and Barkleys said this year we'll go 657 00:36:01,080 --> 00:36:03,239 Speaker 1: down as one of the worst for the world economy 658 00:36:03,640 --> 00:36:07,440 Speaker 1: in four decades. Regarding Apple, Fox, cons iPhone City is 659 00:36:07,440 --> 00:36:12,279 Speaker 1: back to about of anticipated peak capacity and wrapping things up, 660 00:36:12,320 --> 00:36:14,760 Speaker 1: Capital One was cut to equate over at Barkley's, Carlos 661 00:36:14,840 --> 00:36:17,680 Speaker 1: Group was cut to market perform at KBW, and Win 662 00:36:17,840 --> 00:36:21,680 Speaker 1: was raised to overweight over at Wells Fargo. Live from 663 00:36:21,680 --> 00:36:24,359 Speaker 1: the first Breaking News Descomb Boo Maloney care all right, Bell, 664 00:36:24,440 --> 00:36:26,560 Speaker 1: thank you to hear live breaking news of your Bloomberg 665 00:36:26,600 --> 00:36:28,960 Speaker 1: type squawk on your termin I'll sue you a w 666 00:36:29,160 --> 00:36:31,680 Speaker 1: K and that's a Bloomberg business flash. Now here's Michael 667 00:36:31,680 --> 00:36:33,799 Speaker 1: Barr with more on what's going on around the world. 668 00:36:33,960 --> 00:36:36,880 Speaker 1: Michael Karen, thank you very much. Republicans take control of 669 00:36:36,920 --> 00:36:40,480 Speaker 1: the House today, but there's uncertainty over who will be speaker. 670 00:36:40,880 --> 00:36:44,840 Speaker 1: Representative Kevin McCarthy can only afford to lose Ford's up votes, 671 00:36:44,880 --> 00:36:48,200 Speaker 1: and more than a dozen Republican lawmakers have not promised 672 00:36:48,239 --> 00:36:51,719 Speaker 1: their support. In the NBA, the Knicks, Nets, Warriors and 673 00:36:51,840 --> 00:36:56,279 Speaker 1: Cavaliers one, Cleveland's Donovan Mitchell scored seventy one points. In 674 00:36:56,360 --> 00:36:59,920 Speaker 1: the NHL the Bruins. One Buffalo defensive back the Marham 675 00:37:00,280 --> 00:37:03,480 Speaker 1: remains in critical condition after the Bills say he suffered 676 00:37:03,480 --> 00:37:06,960 Speaker 1: a cardiac arrest on the field after a tackle. Funeral 677 00:37:07,040 --> 00:37:10,000 Speaker 1: services take place today for soccer great Pele and Brazil 678 00:37:10,320 --> 00:37:13,360 Speaker 1: who died last week. At A two Global News twenty 679 00:37:13,360 --> 00:37:16,400 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 680 00:37:16,680 --> 00:37:19,640 Speaker 1: powered by more than twenty seven hundred journalists and analysts 681 00:37:19,680 --> 00:37:22,520 Speaker 1: more than a hundred twenty countries, Michael Bard, this is 682 00:37:22,520 --> 00:37:24,839 Speaker 1: Bloomberg caeron all right, Michael, thank you at a six 683 00:37:24,880 --> 00:37:26,839 Speaker 1: forty two on Wall Street, and we turned to news 684 00:37:26,840 --> 00:37:29,480 Speaker 1: and science and technology now with a Bloomberg and j 685 00:37:29,640 --> 00:37:33,120 Speaker 1: I T Stem Report, and here's just making news and science, technology, 686 00:37:33,160 --> 00:37:36,400 Speaker 1: engineering and math. According to a study published today, the 687 00:37:36,480 --> 00:37:40,360 Speaker 1: number of young kids who accidentally a marijuana lace treats 688 00:37:40,760 --> 00:37:44,040 Speaker 1: rose sharply over five years as pot became legal in 689 00:37:44,080 --> 00:37:48,000 Speaker 1: more places in the US, more than seven thousand confirmed 690 00:37:48,000 --> 00:37:51,560 Speaker 1: cases of kids younger than six eating marijuana edibles were 691 00:37:51,560 --> 00:37:56,960 Speaker 1: reported the nation's poison control centers between twenty one, climbing 692 00:37:56,960 --> 00:37:59,920 Speaker 1: from about two hundred to more than three thousand per year, 693 00:38:00,120 --> 00:38:03,040 Speaker 1: or nearly a quarter of the children wound up hospitalize, 694 00:38:03,080 --> 00:38:06,400 Speaker 1: some seriously ill. According to a new analysis and the 695 00:38:06,480 --> 00:38:10,280 Speaker 1: Journal Pediatrics and China, Fox Cohn has brought the world's 696 00:38:10,320 --> 00:38:14,759 Speaker 1: largest iPhone plant back to about peak capacity. That suggests 697 00:38:14,760 --> 00:38:18,280 Speaker 1: that Apple's biggest production partner now has enough workers. Despite 698 00:38:18,280 --> 00:38:21,680 Speaker 1: a COVID outbreak and a staff upheaval in November, thousands 699 00:38:21,680 --> 00:38:24,440 Speaker 1: of workers at the facility either left or stage protests 700 00:38:24,440 --> 00:38:28,359 Speaker 1: against extreme COVID restrictions and end of the year discounts 701 00:38:28,360 --> 00:38:31,600 Speaker 1: were not enough for Tesla. Milon must electric car maker 702 00:38:31,640 --> 00:38:35,240 Speaker 1: delivered fewer vehicles than expected. In the last three months. 703 00:38:35,239 --> 00:38:38,360 Speaker 1: Tesla handed over a record four hundred five thousand cars. 704 00:38:38,719 --> 00:38:41,960 Speaker 1: Tesla slash prices in both the US and China, It's 705 00:38:41,960 --> 00:38:44,520 Speaker 1: two biggest markets, and that's the Bloomberg and j I 706 00:38:44,600 --> 00:38:47,040 Speaker 1: t Stem report. Nathan, Yeah, we're going to have more 707 00:38:47,080 --> 00:38:51,480 Speaker 1: on how that less than expected delivery numbers affecting the 708 00:38:51,520 --> 00:38:54,759 Speaker 1: stock in the minutes ahead. First, though, it's coming up 709 00:38:54,760 --> 00:38:57,040 Speaker 1: on sixty four on Wall Street. It's time now to 710 00:38:57,120 --> 00:38:59,520 Speaker 1: check what's going on in DC. Some of the top 711 00:38:59,560 --> 00:39:02,440 Speaker 1: stories in our nation's capital include Kevin McCarthy facing a 712 00:39:02,480 --> 00:39:06,120 Speaker 1: speaker vote showdown as Republicans take over the House, the 713 00:39:06,239 --> 00:39:10,040 Speaker 1: US in talks with South Korea on deterring North Korean 714 00:39:10,120 --> 00:39:13,720 Speaker 1: nuclear weapons, and President Biden capping two years of action 715 00:39:13,719 --> 00:39:17,360 Speaker 1: on the economy with new challenges ahead. Joe Matthew joins 716 00:39:17,400 --> 00:39:20,000 Speaker 1: this this morning for the first trading day of twenty three. 717 00:39:20,040 --> 00:39:25,080 Speaker 1: Bloomberg Wasashington correspondent host of Sound On on Bloomberg Radio. Joe, 718 00:39:25,080 --> 00:39:27,359 Speaker 1: good morning. We know there's gonna be drama for the 719 00:39:27,360 --> 00:39:31,720 Speaker 1: House vote for speaker this afternoon, But is there really 720 00:39:32,760 --> 00:39:36,920 Speaker 1: possibility that Kevin McCarthy's not going to be elected speaker 721 00:39:36,960 --> 00:39:38,520 Speaker 1: by the end of the day. That is a very 722 00:39:38,560 --> 00:39:41,239 Speaker 1: real possibility. Look at really that we talked about going 723 00:39:41,320 --> 00:39:43,920 Speaker 1: into the new year, and you know, people are well, 724 00:39:43,960 --> 00:39:45,600 Speaker 1: we're not sure. Let's see what kind of deals he 725 00:39:45,640 --> 00:39:48,680 Speaker 1: can cut. The numbers haven't changed. In fact, Nathan, it 726 00:39:48,680 --> 00:39:51,279 Speaker 1: looks like they've gotten worse. We were talking about five 727 00:39:51,280 --> 00:39:54,600 Speaker 1: holdouts in the Republican Party. Now it's it's fourteen. It 728 00:39:54,680 --> 00:39:57,719 Speaker 1: appears this vote is at noon today, and there are 729 00:39:57,760 --> 00:39:59,680 Speaker 1: a lot of questions about what happens if this goes 730 00:39:59,719 --> 00:40:03,440 Speaker 1: to his second round. It's been a hundred years, almost 731 00:40:03,480 --> 00:40:08,080 Speaker 1: exactly since that last happened. To suggest that the incoming 732 00:40:08,080 --> 00:40:10,680 Speaker 1: majority does not actually know exactly who the speaker is 733 00:40:10,719 --> 00:40:14,080 Speaker 1: going to be brings high drama to Capitol Hill today 734 00:40:14,120 --> 00:40:17,520 Speaker 1: at high noon. Well, one of the concessions that Kevin 735 00:40:17,600 --> 00:40:20,600 Speaker 1: McCarthy has been trying to make to try to shore 736 00:40:20,680 --> 00:40:23,160 Speaker 1: up that vote, you know, it's it was an important 737 00:40:23,200 --> 00:40:27,279 Speaker 1: development over the weekend as a new rules package was 738 00:40:27,360 --> 00:40:31,680 Speaker 1: released proposed changes this came out Sunday night that would 739 00:40:31,680 --> 00:40:34,360 Speaker 1: give a lot more power to rank and file members. 740 00:40:34,360 --> 00:40:37,399 Speaker 1: And this is a tough situation for Kevin McCarthy. We've 741 00:40:37,400 --> 00:40:39,399 Speaker 1: seen other other things that we knew they were coming, 742 00:40:39,400 --> 00:40:43,200 Speaker 1: like the end of proxy voting for instance, uh increased 743 00:40:43,200 --> 00:40:46,840 Speaker 1: balance at least in the eyes of the speaker to 744 00:40:46,920 --> 00:40:49,319 Speaker 1: be here on the way committees are made up, the 745 00:40:49,360 --> 00:40:52,280 Speaker 1: way bills get to the floor, seventy two hour waiting periods, 746 00:40:52,280 --> 00:40:54,720 Speaker 1: a lot of stuff that's kind of low hanging fruit. 747 00:40:55,080 --> 00:40:57,640 Speaker 1: But what we're talking about here is the ability to 748 00:40:57,920 --> 00:41:03,479 Speaker 1: fire the speaker essentially, uh to vacate the speakership would 749 00:41:03,520 --> 00:41:06,520 Speaker 1: now require half the caucus. It would now be only 750 00:41:06,600 --> 00:41:09,880 Speaker 1: five people. Ironic that five people have been holding out 751 00:41:09,920 --> 00:41:13,200 Speaker 1: against Kevin McCarthy this whole time. Some are suggesting Nathan 752 00:41:13,200 --> 00:41:15,200 Speaker 1: that he might need to crank that down to one 753 00:41:15,960 --> 00:41:18,359 Speaker 1: to win everyone over, that only a single lawmaker would 754 00:41:18,360 --> 00:41:20,759 Speaker 1: have the ability to challenge the Speaker of the House 755 00:41:20,800 --> 00:41:23,480 Speaker 1: and potentially get them fired. Now, if you expand this, 756 00:41:23,520 --> 00:41:25,040 Speaker 1: if you back out a little bit, we all know 757 00:41:25,080 --> 00:41:26,920 Speaker 1: that there's a debt ceiling that needs to be solved 758 00:41:27,000 --> 00:41:29,960 Speaker 1: in the new year. That is going to be a knockdown, 759 00:41:30,080 --> 00:41:33,840 Speaker 1: drag out fight. It's gonna be a fiscal cliff level debate. 760 00:41:34,480 --> 00:41:37,600 Speaker 1: And if Kevin McCarthy becomes speaker under these terms, with 761 00:41:37,680 --> 00:41:40,480 Speaker 1: five or fewer people able to fire him essentially or 762 00:41:40,600 --> 00:41:43,359 Speaker 1: set him up to be fired, it is likely he 763 00:41:43,400 --> 00:41:47,160 Speaker 1: couldn't last his first year as speaker. So the drama 764 00:41:47,360 --> 00:41:49,919 Speaker 1: begins today, but it will not be over no matter 765 00:41:49,920 --> 00:41:52,080 Speaker 1: how it ends. Yeah, I mean it says something as 766 00:41:52,160 --> 00:41:57,840 Speaker 1: well about what the leadership, the ability of this Congress 767 00:41:58,000 --> 00:42:00,960 Speaker 1: to govern is going to look like if not only 768 00:42:01,080 --> 00:42:06,000 Speaker 1: we get a multi ballot speakership vote, but whether Kevin 769 00:42:06,080 --> 00:42:10,600 Speaker 1: McCarthy has this kind of fractious Republican caucus behind him. Well, 770 00:42:10,600 --> 00:42:12,920 Speaker 1: that's that's right, that's the question. This is obviously a 771 00:42:13,000 --> 00:42:17,360 Speaker 1: leader who predicted winning dozens of seats in the midterm elections. 772 00:42:17,360 --> 00:42:19,960 Speaker 1: He predicted a red wave. It did not happen, and 773 00:42:20,040 --> 00:42:22,880 Speaker 1: a lot of folks like Matt Gates, like Lauren Bolbert, 774 00:42:22,920 --> 00:42:25,000 Speaker 1: like Andy Biggs are really upset about it, and they 775 00:42:25,040 --> 00:42:28,120 Speaker 1: don't think that he deserves to have this job. So, yes, 776 00:42:28,560 --> 00:42:31,600 Speaker 1: this is just symbolic of the of the chaos that 777 00:42:31,680 --> 00:42:34,440 Speaker 1: he will likely inherit with that Gavil if he does 778 00:42:34,520 --> 00:42:37,080 Speaker 1: become speaker. And by the way, if if you're a 779 00:42:37,080 --> 00:42:39,799 Speaker 1: betting person, you're probably betting that Kevin McCarthy is going 780 00:42:39,840 --> 00:42:41,840 Speaker 1: to be the speaker. It's still the most likely scenario. 781 00:42:41,840 --> 00:42:45,160 Speaker 1: It's unclear who else might emerge, although some of these 782 00:42:45,360 --> 00:42:49,000 Speaker 1: conservative Republican holdouts are suggesting that today we will learn 783 00:42:49,719 --> 00:42:52,759 Speaker 1: when voting begins at noontime, whether it's in the first 784 00:42:52,840 --> 00:42:54,560 Speaker 1: or second ballot, we will learn of a new name 785 00:42:55,080 --> 00:42:57,040 Speaker 1: that they have coalesced around. I don't know if that's 786 00:42:57,040 --> 00:42:59,680 Speaker 1: actually gonna happen. But we're gonna be listening real closely 787 00:42:59,719 --> 00:43:02,960 Speaker 1: at Wow. Yeah, that'll that'll really be something to watch. Okay, 788 00:43:02,960 --> 00:43:05,560 Speaker 1: we'll be following that for sure, Joe, where does this 789 00:43:05,840 --> 00:43:08,920 Speaker 1: all this leave President Biden? Is he's just sort of 790 00:43:08,960 --> 00:43:12,640 Speaker 1: watching this chaos and wringing his hands a little bit, 791 00:43:12,920 --> 00:43:15,080 Speaker 1: or I mean, what does this mean for his agenda 792 00:43:15,760 --> 00:43:18,839 Speaker 1: for you know, the second half of this first term 793 00:43:18,920 --> 00:43:21,520 Speaker 1: for president. He's just back from St. Croix, he's got 794 00:43:21,520 --> 00:43:25,440 Speaker 1: a tan, he's relaxed. He got pretty much everything he 795 00:43:25,520 --> 00:43:27,839 Speaker 1: was hoping for, I mean, build back better in that 796 00:43:27,920 --> 00:43:30,640 Speaker 1: massive piece of legislation didn't go the way he wanted. 797 00:43:30,680 --> 00:43:32,840 Speaker 1: But but what a list he has coming off the 798 00:43:32,880 --> 00:43:35,640 Speaker 1: next two years. Granted, there is a hope to do more. 799 00:43:35,719 --> 00:43:38,279 Speaker 1: And by the way, he's going to celebrate the start 800 00:43:38,280 --> 00:43:40,080 Speaker 1: of the new year while this in fighting happens in 801 00:43:40,080 --> 00:43:44,040 Speaker 1: the House among Republicans by appearing in Kentucky with Mitch 802 00:43:44,120 --> 00:43:47,719 Speaker 1: McConnell to talk about the infrastructure Plan. Another way of 803 00:43:47,719 --> 00:43:51,200 Speaker 1: answering your question, uh, Nathan, is that if President Biden 804 00:43:51,280 --> 00:43:55,360 Speaker 1: spent the next two years implementing, actually focused on implementing 805 00:43:55,360 --> 00:43:59,040 Speaker 1: and funding everything he got past beginning with the infrastructure 806 00:43:59,040 --> 00:44:02,560 Speaker 1: bill now law, it would likely be a full time job. 807 00:44:02,960 --> 00:44:06,520 Speaker 1: Whether he can get permitting reform, or free pre k 808 00:44:06,880 --> 00:44:10,080 Speaker 1: or free community college some of the other ideas that 809 00:44:10,120 --> 00:44:12,000 Speaker 1: have been blown out there and never made it into 810 00:44:12,000 --> 00:44:16,200 Speaker 1: build back better not likely With a Republican Leadhouse. This 811 00:44:16,239 --> 00:44:18,840 Speaker 1: is gonna be an opportunity for Joe Biden to really 812 00:44:19,239 --> 00:44:22,080 Speaker 1: coalesce around what's already been passed and prepared to announce 813 00:44:22,120 --> 00:44:23,759 Speaker 1: a run for president, which appears to be coming in 814 00:44:23,800 --> 00:44:25,640 Speaker 1: the next couple of months. I was gonna say, just 815 00:44:25,680 --> 00:44:28,279 Speaker 1: talking about the accomplishments over the last two years, it 816 00:44:28,320 --> 00:44:32,879 Speaker 1: almost sounds like the presidential race making the aden ready 817 00:44:32,920 --> 00:44:35,040 Speaker 1: to be off to the races. Yeah, indeed, thanks for 818 00:44:35,120 --> 00:44:37,520 Speaker 1: this as always, an happy New Year to you, Joe. 819 00:44:37,719 --> 00:44:40,880 Speaker 1: It's Joe Matthew Bloomberg, Washington Correspondent, host of Sound on 820 00:44:40,920 --> 00:44:43,799 Speaker 1: which you can hear every weekday afternoon five pm. Wall 821 00:44:43,840 --> 00:44:48,640 Speaker 1: Street Time across Bloomberg Radio. SMP futures right now up 822 00:44:48,680 --> 00:44:52,359 Speaker 1: fifteen points down futures up, and NASTAC futures are higher 823 00:44:52,400 --> 00:44:54,319 Speaker 1: by forty seven points, so giving back some of the 824 00:44:54,360 --> 00:44:57,480 Speaker 1: earlier games. In the pre market session, you're listening to 825 00:44:57,560 --> 00:45:04,480 Speaker 1: Bloomberg Day Break, markets headlines and breaking news twenty four 826 00:45:04,520 --> 00:45:07,560 Speaker 1: hours a day at Bloomberg dot com. The Bloomberg Business 827 00:45:07,560 --> 00:45:17,120 Speaker 1: at Land at Bloomberg Quick Tape is a Bloombern Business Flash. 828 00:45:17,520 --> 00:45:20,640 Speaker 1: And I'm Karen Moscow. And stocks are on the rise 829 00:45:20,719 --> 00:45:22,680 Speaker 1: on this first trading day of the new year. And 830 00:45:22,680 --> 00:45:24,759 Speaker 1: we checked the markets all day long here on Bloomberg 831 00:45:24,800 --> 00:45:27,920 Speaker 1: with SMP futures up sixteen points. We're watching futures of 832 00:45:27,960 --> 00:45:30,880 Speaker 1: course now futures of one forty or four tenths of uppercent, 833 00:45:31,239 --> 00:45:34,400 Speaker 1: and NASDAG futures are up half percent or fifty five points, 834 00:45:34,840 --> 00:45:37,800 Speaker 1: and SMP futures as again up sixteen points, and that 835 00:45:37,960 --> 00:45:40,200 Speaker 1: is four tenths of uppercent. The decks in Germany is 836 00:45:40,200 --> 00:45:42,880 Speaker 1: a three quarters of a percent. Can your treasury is 837 00:45:42,920 --> 00:45:45,600 Speaker 1: up thirty one thirty seconds. The three point seven five 838 00:45:45,640 --> 00:45:47,719 Speaker 1: percent they yield on the two year four point three 839 00:45:47,800 --> 00:45:50,799 Speaker 1: five percent. Nine X Screwed oil is down one point 840 00:45:50,840 --> 00:45:53,320 Speaker 1: four percent, down a dollar twelve and seventy nine dollars 841 00:45:53,320 --> 00:45:55,640 Speaker 1: fourteen cents of barrel co make scold up seven tenths 842 00:45:55,640 --> 00:45:58,040 Speaker 1: percent or twelve dollars thirty cent at eighteen thirty eight 843 00:45:58,080 --> 00:46:01,160 Speaker 1: sixty announced the euro one no five to nine against 844 00:46:01,200 --> 00:46:03,399 Speaker 1: the dollar. British found one point one nine three six 845 00:46:03,480 --> 00:46:06,480 Speaker 1: again one thirty point eight four. I'm looking at bitcoin. 846 00:46:06,520 --> 00:46:08,279 Speaker 1: It's down about two tents of a percent? Is it 847 00:46:08,400 --> 00:46:12,120 Speaker 1: a sixteen thousand, seven twenty dollars? And that's a Bloomberg 848 00:46:12,120 --> 00:46:15,040 Speaker 1: business flash, Nathan. All right, Karen, thanks six fifty six 849 00:46:15,120 --> 00:46:16,799 Speaker 1: on Wall Street. That means we're just a few minutes 850 00:46:16,800 --> 00:46:20,240 Speaker 1: away from Bloomberg surveillance. First, let's bring in Bloomberg's Kaylee lines. 851 00:46:20,640 --> 00:46:23,360 Speaker 1: Take a look at some of the stocks moving in 852 00:46:23,440 --> 00:46:27,880 Speaker 1: this pre market trade, Kaylee, Happy new year. As Karen mentioned, 853 00:46:27,960 --> 00:46:31,560 Speaker 1: the futures are moving higher, including the tech heavy NASTAC futures. 854 00:46:31,560 --> 00:46:36,040 Speaker 1: But Tesla is being left off this morning's bandwagon. Yeah, 855 00:46:36,080 --> 00:46:38,920 Speaker 1: happy new Year, Nathan. Tesla definitely not participating in that 856 00:46:38,960 --> 00:46:41,600 Speaker 1: big tech rally we are seeing elsewhere right now. The 857 00:46:41,640 --> 00:46:44,560 Speaker 1: stock is down about four percent and that was after 858 00:46:44,600 --> 00:46:47,279 Speaker 1: deliveries data was released over the long weekend for the 859 00:46:47,320 --> 00:46:49,759 Speaker 1: fourth quarter. And yes it was a record, Yes it 860 00:46:49,800 --> 00:46:52,960 Speaker 1: was north of four hundred thousand vehicles delivered in that period, 861 00:46:53,040 --> 00:46:55,879 Speaker 1: but that still came up short of Wall Street expectations 862 00:46:56,160 --> 00:46:59,480 Speaker 1: and of the company's own goal to expand deliveries by 863 00:46:59,560 --> 00:47:02,400 Speaker 1: fifty percent, So the fact that that missed, despite the 864 00:47:02,400 --> 00:47:04,840 Speaker 1: fact that the company had been offering heavy incentives and 865 00:47:04,880 --> 00:47:08,840 Speaker 1: discounting in its biggest markets, is really just reinforcing demand 866 00:47:08,840 --> 00:47:11,759 Speaker 1: concerns that already have been percolating and reflected in the 867 00:47:11,800 --> 00:47:14,279 Speaker 1: stock price. In addition to concern around Elon Musk being 868 00:47:14,280 --> 00:47:17,040 Speaker 1: distracted by his Twitter acquisition, and just kind of the 869 00:47:17,080 --> 00:47:20,800 Speaker 1: broader brutal environment for high multiple tech companies given rising 870 00:47:20,840 --> 00:47:24,160 Speaker 1: interest rates, all that together contributed to a really, really 871 00:47:24,160 --> 00:47:27,640 Speaker 1: awful for Test. While the shares were down six over 872 00:47:27,680 --> 00:47:30,600 Speaker 1: the course of last year, worst yearly performance on record, 873 00:47:30,600 --> 00:47:34,440 Speaker 1: and it's not looking like is off to a better start. Yeah. Interesting, 874 00:47:34,440 --> 00:47:37,120 Speaker 1: a lot of those same concerns from last year carrying 875 00:47:37,120 --> 00:47:41,000 Speaker 1: over potentially into three. But it's really interesting looking at 876 00:47:41,000 --> 00:47:43,280 Speaker 1: the pre market trade this morning, some of the worst 877 00:47:43,400 --> 00:47:48,520 Speaker 1: performing stocks are some of the biggest gainers this morning. Yeah, 878 00:47:48,560 --> 00:47:50,640 Speaker 1: maybe a little bit of dip buying here to start 879 00:47:50,680 --> 00:47:52,480 Speaker 1: the new year. A lot of those stocks that were 880 00:47:52,480 --> 00:47:55,520 Speaker 1: also pressured by that higher interest rate story and really 881 00:47:55,560 --> 00:47:57,920 Speaker 1: just the deflating of so many high asset prices we 882 00:47:57,960 --> 00:48:00,400 Speaker 1: saw across the border seeing somewhat of a rebound include 883 00:48:00,440 --> 00:48:03,759 Speaker 1: some of those meme stocks the retail trader favorites, including bed, 884 00:48:03,760 --> 00:48:06,880 Speaker 1: Bath and Beyond, which is up by thirteen percent before 885 00:48:06,920 --> 00:48:08,640 Speaker 1: the bell. At the moment, you're seeing some games for 886 00:48:08,640 --> 00:48:11,279 Speaker 1: the likes of AMC and game Stop as well other 887 00:48:11,360 --> 00:48:14,719 Speaker 1: e V stocks Tesla aside are positive to Lucid Group 888 00:48:14,840 --> 00:48:17,440 Speaker 1: is just one example. It's up about two percent. And 889 00:48:17,440 --> 00:48:19,879 Speaker 1: then crypto stocks also getting a little bit of a lift. 890 00:48:19,920 --> 00:48:23,560 Speaker 1: We know that two was bad for Bitcoin, it was 891 00:48:23,600 --> 00:48:25,960 Speaker 1: down almost as much as Tesla, more than sixty percent. 892 00:48:26,040 --> 00:48:28,200 Speaker 1: But today you're seeing the likes of coin base and 893 00:48:28,280 --> 00:48:31,760 Speaker 1: right Blockchain higher by about two percent in pre market training. 894 00:48:31,840 --> 00:48:34,120 Speaker 1: Only about thirty seconds left here, Kaylee. But we're seeing 895 00:48:34,120 --> 00:48:36,919 Speaker 1: some positive signs potentially out of China. Are you looking 896 00:48:36,960 --> 00:48:39,480 Speaker 1: at some names there? Yeah. The idea that when you 897 00:48:39,480 --> 00:48:41,840 Speaker 1: look at mobility data may signal that we've seen a 898 00:48:41,880 --> 00:48:44,640 Speaker 1: peak in cases in some major cities. So stocks sensitive 899 00:48:44,680 --> 00:48:47,160 Speaker 1: to the China story are gaining in early hours. That 900 00:48:47,160 --> 00:48:50,480 Speaker 1: includes Wind Resorts, which has heavy revenue exposure to Macow 901 00:48:50,600 --> 00:48:53,600 Speaker 1: and the casinos there. In particular. That stock is up 902 00:48:53,760 --> 00:48:56,120 Speaker 1: about three point seven percent, and some of those a 903 00:48:56,239 --> 00:48:58,640 Speaker 1: d r s of big Chinese technology companies like Ali, 904 00:48:58,680 --> 00:49:01,320 Speaker 1: Baba and JD dot com Um are also seeing gains. 905 00:49:01,360 --> 00:49:03,879 Speaker 1: Baba is the ticker here in the US. That stock 906 00:49:03,920 --> 00:49:06,320 Speaker 1: is up about two point nine percent in early hours. 907 00:49:06,560 --> 00:49:10,319 Speaker 1: Bloomberg's Kaylee lines watching those individual movers for US. Kayle, 908 00:49:10,480 --> 00:49:14,319 Speaker 1: thank you once again. SMP futures are higher by fifteen points. 909 00:49:14,320 --> 00:49:16,800 Speaker 1: Staff futures up a hundred thirty four nanstack futures on 910 00:49:16,840 --> 00:49:20,319 Speaker 1: the rise by fifty four points. This is Bloomberg day 911 00:49:20,320 --> 00:49:23,279 Speaker 1: Break on Nathan Hagar along with Karen Moscow, and it's 912 00:49:23,280 --> 00:49:26,360 Speaker 1: six fifty nine on Wall Street. Stay with us. Bloomberg 913 00:49:26,440 --> 00:49:32,279 Speaker 1: surveillance starts right now, my from the financial capital of 914 00:49:32,320 --> 00:49:37,480 Speaker 1: the world, broadcasting across thelo This is w BBR, New York. Bloomberg. 915 00:49:37,520 --> 00:49:46,440 Speaker 1: He living in three O two three could continue to 916 00:49:46,440 --> 00:49:49,239 Speaker 1: be pretty challenging for stocks. Exting comes back in