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Speaker 1: Bye from the Bloomberg Interactive Burger Studios. This is Bloomberg

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Speaker 1: day Break for Thursday, April seven two. Coming up this hour,

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Speaker 1: the US and its allies lineup more sanctions on Russia

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Speaker 1: as a frost cities in Ukraine grow stock sell off

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Speaker 1: after hawkish minutes from the Federal Reserve. And let's tell

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Speaker 1: you which company surging on news of a four billion

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Speaker 1: dollars stake from Warren Buffett. The rate of major crimes

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Speaker 1: in New York City is up. Plus it's confirmation day

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Speaker 1: for Supreme Court nominee. That's Donji Brown Jackson by my

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Speaker 1: bloo Blarm. More ahead, I'm John skash Shower and Sports

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Speaker 1: Second have come back by the Nets to beat the nixt.

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Speaker 1: The Master's seeds off today, and the Mets open their

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Speaker 1: season in Washington. That's all straight ahead on Bloomberg day

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Speaker 1: Break on Bloomberg eleven Trio, New York, Bloomberg one, Washington,

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Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine six, Francisco,

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Speaker 1: Sirius x M one nineteen and around the world on

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Speaker 1: Bloomberg Radio dot com and via the Bloomberg Business app.

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Speaker 1: Fany Good morning of Bethan Hager and I'm Karen Moscow

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Speaker 1: and SMP futures are higher this morning. It is coming

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

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Speaker 1: check the markets every fifteen minutes throughout the trading day

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Speaker 1: on Bloomberg. Right now, SMP futures are up about thirteen

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Speaker 1: points down, futures up thirty six, and NASTAC futures up

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Speaker 1: seventies six, So futures are strengthening this morning. The decks

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Speaker 1: in Germany's up about six tenths of upper sent ten.

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Speaker 1: Your treasury up six thirty seconds. You're two point five

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Speaker 1: seven percent. They yield on the two year two point

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Speaker 1: four three percent. NIMEX screwed oil is up one percent,

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Speaker 1: or ninety one cents and ninety seven dollars twelve cents

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Speaker 1: of barrel. The euro one pot eight nine three against

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Speaker 1: the dollar. Nathan, all right, Karen, we'll have more on

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Speaker 1: the markets in a minute. First, the latest on the

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Speaker 1: war and more evidence of atrocities against civilians in Ukraine.

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Speaker 1: The US and its satellites are lining up more sanctions

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Speaker 1: on Russia. Amy Morris has more from our Bloomberg N

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Speaker 1: one newsroom in Washington. These new sanctions target two of

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Speaker 1: Russia's biggest banks and Vladimir Putin's adult daughters. Chatham House

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Speaker 1: associate fellow Katerina Waldschack tells Bloomberg Television Russia was the

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Speaker 1: eleventh largest economy in the world, so there are consequences

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Speaker 1: beyond Russia's borders. Wolves the West now really reckons with

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Speaker 1: is the funk that we have very extensive interdependence with Russia,

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Speaker 1: with Russians, with the financial institution for Russian banks, but

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Speaker 1: specifically energy slow and European foreign ministers are likely to

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Speaker 1: discuss an oil embargo on Russia when they meet next week.

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Speaker 1: Ukraine's foreign minister pleaded for more weapons during a NATO

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Speaker 1: meeting in Brussels. The mayor of Mariople says more than

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Speaker 1: five thousand civilians have been killed in his city. In Washington,

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Speaker 1: I'm maybe Morris Bloomberg daybreak, All right, Amy, thank you all.

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Speaker 1: Another note on the war. It looks like the United

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Speaker 1: Nations General Assembly could end up suspending Russia from the

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Speaker 1: Human Rights Council. The Council plans to vote on a

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Speaker 1: matter later today. On the days after the war began,

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Speaker 1: caring the Russian ruble collapsed, Sanctions on Moss go sank

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Speaker 1: it to a record low of one one per dollar.

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Speaker 1: Things look so dire. President Biden said the ruble had

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Speaker 1: been reduced to rubble, but now the ruble has searched

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Speaker 1: all the way back to where it was before Putin

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Speaker 1: invaded Ukraine. Right now trading at about seventy eight per dollar.

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Speaker 1: And we're seeing fallout this morning from one company's exit

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Speaker 1: from Russia and Nathan shares of Shander down one percent

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Speaker 1: in early trading. The oil giants said it's withdrawal from

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Speaker 1: the country will result in four to five billion dollars

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Speaker 1: of impairments. Shall also warns that price volatility in the

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Speaker 1: first quarter could hit cash flow. All right, let's shift

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Speaker 1: to the economy and markets back here in the US now,

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Speaker 1: Karen investors are still working through the Fence planned to

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Speaker 1: parents balance sheet by more than one trillion dollars a

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Speaker 1: year while also hiking interest rates. Let's get more live

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Speaker 1: from Bloomberg's John Tucker John Nathan. The plan is spelled

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Speaker 1: out in the just released minutes of the Fence March meeting.

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Speaker 1: Many officials viewed one or more half point interest rate

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Speaker 1: increases as possibly appropriate going forward. That's if the rate

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Speaker 1: of inflation doesn't come down. They also proposed shrinking the

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Speaker 1: Central Bank's balance sheet in line with market expectations. Michael

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Speaker 1: Sheldon at High Tower r d M Financial Group says

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Speaker 1: the fan has been down this road before. They also,

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Speaker 1: unfortunately have a poor track record of raising rates too

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Speaker 1: aggressively and causing a downturn in the economy. And that's

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Speaker 1: what I think investors are getting kind of a jittery

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Speaker 1: about right now. Michael Sheldon of r d M worries

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Speaker 1: the Santa banquets slow growth more than it intends. Bloomberg

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Speaker 1: Economics says the Fed minutes show noticeably more alarm about

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Speaker 1: recent inflation developments. Live in New York on John Tucker

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Speaker 1: Bloomberg Daybreak. All right, John, thank you well. Stocks in

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Speaker 1: Asia slid overnight, hitting a three week low, and there's

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Speaker 1: concern our rapid rise in US interest rates good hit

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Speaker 1: growth and hurt earnings. Do we get the recap from

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Speaker 1: Bloomberg's Juliette Salion Singapore. Good morning, Juliette, Good morning, Karen.

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Speaker 1: The m s c I Asia Pacific Index lost as

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Speaker 1: much as one point three percent for a third day

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Speaker 1: of declines, led by tech shares in Japan and Taiwan.

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Speaker 1: Stokes in Hong Kong and China fell while the one

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Speaker 1: weekend as officials once again signaled they intend to loosen

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Speaker 1: policy amid the car It outbreak and property market was

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Speaker 1: a Bloomberg Intelligence gauge tracking McCaw casinos, Stokes Film more

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Speaker 1: than three percent as a number of third party casinos

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Speaker 1: could end their gaming operations in Macau in Singapore. Juliette

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Speaker 1: Sally Bloomberg Daybreak. All right, Juliet, thank you. Back here

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Speaker 1: in the US, a big name in PCs is getting

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Speaker 1: a boost from a big name on Wall Street. Shares

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Speaker 1: of HP are surging nearly fifteen percent on word of

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Speaker 1: an investment from Warren Buffett. Let's get the latest live

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Speaker 1: from Bloomberg's Rnita Young. Good morning, Rnita, Good morning, Nathan.

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Speaker 1: Warren Buffett's Berkshire Hathaway bought a steak in HP valued

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Speaker 1: at more than four point two billion dollars. The stock

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Speaker 1: was purchased in multiple transactions this week, and a regulatory

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Speaker 1: filing shows Berkshire now holds about one million shares of HP. Now,

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Speaker 1: Berkshire has historically shied away from technology investments, but it's

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Speaker 1: leaned further into that sector. In recent years. Live in

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Speaker 1: New York. I'm Nita Young, Bloomberg Daybreak. All right, Grinita,

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Speaker 1: thank you. Turning to the pandemic. Now, there's concerned about

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Speaker 1: a potential rage and new COVID cases and that has

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Speaker 1: FDA advisors worried about vaccine plans. Bloomberg said, Baxter has

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Speaker 1: the story. The advisors say the FDA should be developing

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Speaker 1: a consistent standard for vaccines as new variants emerge. They

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Speaker 1: say the odds are roughly twenty of another Oh Macron

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Speaker 1: like event in the next twelve months. And i H

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Speaker 1: Director Dr Anthony Fauci on Bloomberg's Balance of Power with

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Speaker 1: David Weston says it will depend on a number of things.

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Speaker 1: Hopefully there's enough background immunity so that we don't wind

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Speaker 1: up with a lot of hospitalization. Is the best way

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Speaker 1: to avoid that, it is to get more people vaccinated

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Speaker 1: and boosted. In San Francisco, I'm at Baxter Bloomberg Daybreak.

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Speaker 1: Thanks said, there's word of a big name in finance

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Speaker 1: with COVID. This morning, Christine Lagarde says she's tested positive.

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Speaker 1: The European Central Bank president says her symptoms are reasonably

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Speaker 1: mild and won't have impact on the operations of the

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Speaker 1: ECB well. Another impact we're seeing from the pandemic, Nathan

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Speaker 1: brings us to the housing market. A new report by

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Speaker 1: real estate research firm Adam Data Solution shows home prices

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Speaker 1: and some of the country's pricest neighborhoods staying somewhat subdued.

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Speaker 1: Upscale suburbs of Washington, d C. And wealthy New York

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Speaker 1: towns are among the markets with the slowest price appreciation.

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Speaker 1: Defining show the spread of remote work during the pandemic

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Speaker 1: has allowed many people to op for a living somewhere

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Speaker 1: more affordable. Your latest local headlines, check his sports all

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Speaker 1: straight ahead. This is Bloomberg. Thanks King six or seven

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Speaker 1: on Wall Street, forty six degrees in Central Park. We

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Speaker 1: gotta crash on the southbound Harlem River Drive by a

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Speaker 1: D five. Details coming up in traffic. First Michael Barb

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Speaker 1: with more on what's going on in New York and

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Speaker 1: around the world. Good morning, Michael, Good morning Nathan. Major

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Speaker 1: crime in New York City rose by thirty six point

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Speaker 1: five percent in March from a year ago, despite Mayor

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Speaker 1: Eric Adam's efforts to reduce a spike of incidents that

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Speaker 1: have persisted since the pandemic began. The m I p

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Speaker 1: D says citywide shooting incidents increased by more than sixteen

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Speaker 1: percent in my p D Commissioner keeaching Seoul. While there

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Speaker 1: is no doubt that we face challenges and reversing years

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Speaker 1: will not take weeks, the end YPD remains steadfast in

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Speaker 1: its vision, plan and commitment to the residents, businesses and

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Speaker 1: visitors to this city. Commissioner Sewell's has the number of

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Speaker 1: homicides fell by almost sixteen percent from a year ago,

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Speaker 1: robberies rose by more than forty eight percent, and burglaries

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Speaker 1: jumped by The Senate will vote on final confirmation of

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Speaker 1: President Biden Supreme Court nominee Judge Katanji Brown Jackson this afternoon.

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Speaker 1: Senate Majority Leader Chuck Schumer made the announcement on the

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Speaker 1: floor last night. First and foremost, we have reached an

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Speaker 1: agreement for the Senate to conclude the confirmation process of

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Speaker 1: Judge Katangi Brown Jackson. Jackson would become the first black

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Speaker 1: woman to sit on the nation's highest court. The House

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Speaker 1: voted to hold two former top Trump administration officials in

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Speaker 1: contempt of Congress for defining subpoenas from the committee investigating

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Speaker 1: the riot at the US Capitol. Committee Chair Bennie Thompson.

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Speaker 1: We act the individuals, subpoena at them that come before

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Speaker 1: the committee, and they chose not to come, and they

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Speaker 1: full they broke the law, and that's why we are

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Speaker 1: here today. Representative Many Thompson says, the near party line

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Speaker 1: vote sends the contempt resolution for Dan's Covino and Peter

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Speaker 1: Navarro for referral to the Justice Department for possible prosecution.

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Speaker 1: The Postal Reform Act is now law. President Biden says

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Speaker 1: the legislation guarantees that the mail will continue to be

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Speaker 1: delivered six days a week. Build increases transparency by requiring

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Speaker 1: the postal service to develop online on an online public

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Speaker 1: dashboard updated weekly with local and national service performance data.

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Speaker 1: President Biden says Congress voted to end a law that

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Speaker 1: forced the Post Office to put aside billions for future

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Speaker 1: retirees healthcare. They'll now take Medicare instead. Global News twenty

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Speaker 1: four hours a day on air and on Bloomberg quick Take,

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Speaker 1: powered by more than undred journalists and analysts in more

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Speaker 1: than a hundred twenty countries. I'm Michael Barr. This is

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Speaker 1: Bloomberg Nathan, thank you, Michael six o nine. I'm all street.

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Speaker 1: Time for the Bloomberg's works out there, all right, Nathan Nickson,

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Speaker 1: Nets set the garden. First half is all next they

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Speaker 1: had a nineteen to nothing wrong. They let at one

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Speaker 1: point by twenty one, but the Nets were not exactly

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Speaker 1: known for their defense, held the Knicks to the second

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Speaker 1: after thirty one points. They had scored thirty eight in

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Speaker 1: the second quarter. The Nets scored thirty eight in the fourth.

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Speaker 1: They won one. Kevin rant scored thirty two points and

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Speaker 1: had a triple double. Obviously, every game is important for us,

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Speaker 1: and not just understandings, but for us to I ain't

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Speaker 1: a build on what we want to do out there.

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Speaker 1: Um and I think the first half we didn't. We

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Speaker 1: didn't play Nets Brandon basketball stuff that would teach about

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Speaker 1: xcut crackers every day. We're not at the second half,

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Speaker 1: you know, that's what we are. That Katie mentioned the

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Speaker 1: standings the Nets in the battle with Cleveland and Atlanta

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Speaker 1: to finish seventh, that means one win at home and

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Speaker 1: you can advance Rangers. It was Pittsburgh tonight that could

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Speaker 1: be a playoff preview. While the Yankee open at the stadium,

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Speaker 1: but the Red Sox was moved to tomorrow. The Mets

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Speaker 1: opener in Washington is on despite some range forecasting d C.

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Speaker 1: They did push the start from four o'clock back to seven.

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Speaker 1: The Mets hope to have Jacob mcgram on the mount

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Speaker 1: for the opener. If not him, then Max Scherzer instead.

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Speaker 1: It's Tyler and McGill. The grand may not pitch until

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Speaker 1: June to a shoulder injury. Shurger has got a tight

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Speaker 1: hamstring is expected to make his Mets debut tomorrow against

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Speaker 1: his old team Well Tiger Woods is surprisingly in the

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Speaker 1: master's field. Phil Nicholson is not missing his first Master's

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Speaker 1: nineteen nine four or three time champ, taking time off.

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Speaker 1: He was criticized for his disparaging the Marks about the

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Speaker 1: PGA tour. The Masters says Michelson was invited and it

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Speaker 1: eleven John stash Award Bloomberg Sports Nathan Okay, John, thank you.

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Speaker 1: SMP futures gaining strength now up twelve point, stoun futures

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Speaker 1: Karen Moscow. And markets are showing signs of stabilizing as

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Speaker 1: traders step in after a sell off sparked by the

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Speaker 1: federal reserves hawk ish tilt. We checked the markets every

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Speaker 1: P futures up twelve points, staff futures out up thirty.

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Speaker 1: Nastag Future is also higher up seventy five. The Dacks

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Speaker 1: in Germany's up about six tenths of upper set ten.

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Speaker 1: Your treasury at five thirty seconds hill two point five

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Speaker 1: two percent of a dollar twelve at ninety seven dollar

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Speaker 1: thirty five cents of Barrel comic school there is up

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Speaker 1: nineteen thirty seventy announced. The euro one point eight nine

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Speaker 1: eight zero, The n is at one twenty three point

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Speaker 1: seven three, and bitcoin it's lower, down about one percent

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Speaker 1: bloomberg business flash. Now here's Michael Barrow with more on

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Speaker 1: what's going on around the world. Michael Karen, thank you

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Speaker 1: very much. The United Nations General Assembly is set to

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Speaker 1: vote today on the weather to suspend Russia from the

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Speaker 1: Human Rights Council. President Joe Biden accused the Kremlin's forces

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Speaker 1: of committing major war crimes in Ukraine. It is opening

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Speaker 1: day in Major League Baseball. The Mets are at the Nationals.

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Speaker 1: The Yankees Red Sox opener in New York has been

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Speaker 1: postponed because of the weather. In the NBA, the Nets

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Speaker 1: beat the next one ten Celtics won, the Wizards lost

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Speaker 1: in the NHL. The Capitol's won in golf. Round one

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Speaker 1: of the Masters begins today. Tiger Woods is back in

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Speaker 1: the field fourteen months after a devastating car crash. Stay

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Speaker 1: tuned for updates every hour on Bloomberg Radio and a

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Speaker 1: special edition of Masters tonight coming up at eleven pm.

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Speaker 1: Eastern Global News twenty four hours a day on air

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Speaker 1: and on Bloomberg Quick Take, powered by more than twenty

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Speaker 1: seven hundred journalists anialist more than a hundred twenty countries.

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Speaker 1: Michael Barr And this is Bloomberg. Nathan, Okay, Michael, thank you.

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Speaker 1: It is six nineteen on Wall Street Live from the

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Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak as we

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Speaker 1: continue our coverage of the war in Ukraine and the

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Speaker 1: sanctions pressure on Russia. Were joined once again by Bloomberg

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Speaker 1: New Senior reporter for International Affairs, Mark Champion Market as

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Speaker 1: always to have you with us this morning. I know

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Speaker 1: you've been monitoring the NATO Foreign Ministers meeting in Brussels,

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Speaker 1: it sounds like Ukraine's Foreign minister, Demetro Kuleba, has been

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Speaker 1: really putting pressure on for more support for his country. Yes. Absolutely,

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Speaker 1: I mean there's a recognition in Ukraine that the sanctions

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Speaker 1: are all well and good, and they're pushing very hard

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Speaker 1: for heavier sanctions on Russia. But in a very short term,

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Speaker 1: on the battlefield, the thing that really makes the difference

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Speaker 1: is weapons, and uh, the Ukrainians have sort of need

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Speaker 1: to scale up if they're going to start taking territory back,

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Speaker 1: so they'll need more than light weapons. They'll need heavier stuff, um,

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Speaker 1: you know, stuff that makes them mobile tanks, etcetera. Um,

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Speaker 1: and better air defenses. So there's a there's a big

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Speaker 1: shopping list. There is there any indication from NATO that

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Speaker 1: it's sounding open to that idea. It has been resistant

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Speaker 1: up to now to bringing in some of those heavier weapons,

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Speaker 1: particularly in the air. Yes, it has, and you know

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Speaker 1: some of that remains there, you know, important you know

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Speaker 1: worries about bringing things, uh, you know, airplanes into into

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Speaker 1: Ukrainian airspace from NATO airspace in terms of how that

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Speaker 1: would be viewed by Russia. But at the same time

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Speaker 1: you're starting to see some kinds of weapons that you

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Speaker 1: know weren't being considered before. The The UK is looking

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Speaker 1: at sending armored vehicles now UH and the US was

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Speaker 1: just a couple of days ago said that it would

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Speaker 1: help with the renovation of the Soviet designed tanks to

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Speaker 1: be sent into Ukraine. So there is some movement in

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Speaker 1: those terms, but really the the issue for the Ukrainians

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Speaker 1: is the sheer speed and scale of supply that they

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Speaker 1: would need. We're also sorry, Mark, We're also seeing some

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Speaker 1: reporting just across the Bloomberg Terminal of potential hurdles when

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Speaker 1: it comes to European sanctions on Russia. There's this push

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Speaker 1: our for a coal import band, but sources are telling

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Speaker 1: us that there may be a split between Poland and

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Speaker 1: Germany when it comes to how to phase in this band.

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Speaker 1: Germany's pushing to wait until August for coal imports to

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Speaker 1: be embargoed. How unified is the European Union at this

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Speaker 1: point when it comes to sanctioning Russian energy? Absolutely, I

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Speaker 1: mean this is business as usual for the EU. UH

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Speaker 1: and the speed with which you know previous sanctions were

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Speaker 1: agreed to UM was actually quite unusual. So you know,

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Speaker 1: as as usual, what happens is that that the Commission

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Speaker 1: will propose a set of sanctions and that gets reported

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Speaker 1: and then it has to be decided by uh the

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Speaker 1: you know, the the member states, and there's a lot

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Speaker 1: of them who have very different situations and interests um

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Speaker 1: and uh. You know, Germany in particularly gets a lot

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Speaker 1: of its coal from Russia, um, and it will need

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Speaker 1: to find ways to just to plant that. And at

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Speaker 1: the moment, given that Russia, Germany has is in the

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Speaker 1: middle of the phasing out the last of its nuclear energy. Uh,

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Speaker 1: you know, it has few alternatives, and natural gas is

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Speaker 1: one of them, and that's just as as problematic because

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Speaker 1: most of that comes from Russia. Yeah, you raise an

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Speaker 1: interesting point there when you say that it did come

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Speaker 1: as a bit of a surprise when we got that

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Speaker 1: initial announcement on the coal band coming so quickly. If

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Speaker 1: we are starting to see these hurdles here, Mark, what

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Speaker 1: does that mean for potentially sanctions later on down the

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Speaker 1: line on Russian oil and gas? There had been some

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Speaker 1: thought that maybe that they would be sanctioned later on.

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Speaker 1: Does that push the timeline back further? You know, the

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Speaker 1: oil and gas were always going to be very difficult,

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Speaker 1: and they still aren't very difficult. Um, you know that

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Speaker 1: it would have been inconceivable just a few weeks ago.

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Speaker 1: It's now under discussion, so that already is you know,

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Speaker 1: quite a move. But I think, you know, Cole is

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Speaker 1: doable and they'll get there and there'll be a negotiation

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Speaker 1: about how long it takes. Um. You know, in terms

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Speaker 1: of the phase in oil and gas, I think will

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Speaker 1: be a much tougher discussion, discussion, But I wouldn't. You

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Speaker 1: can't rule anything out at this point because this conflict

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Speaker 1: has changed so many deeply in transpositions already. Mark Champion

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Speaker 1: Bloomberg new senior reporter for international affairs. As always, thanks

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Speaker 1: for the update on what's happening in the war in

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Speaker 1: Ukraine and particularly uh the sanctions debate continuing in Europe.

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Speaker 1: Looking ahead to the market open on Wall Street, futures

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Speaker 1: are moving higher. We have SMP futures up thirteen and

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Speaker 1: a half points now, TOW future is up thirty five,

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Speaker 1: NESTSECT futures on the rise by seventy eight points, and

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Speaker 1: the tenure treasury up five thirty seconds of the yield

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Speaker 1: two point five seven percent. Just ahead the Ruble comes

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Speaker 1: back from the rubble, and Warren Buffett sends a tech

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Speaker 1: stock surging top stories of the morning. Just ahead, you'll

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Speaker 1: listening to Bloomberg Daybreak and Bloomberg Daybreak is brought to

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Speaker 1: globe the Bloomberg Business in Bloomberg Radio dot Com. This

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Speaker 1: is Bloomberg Daybreak, six thirty on Wall Street. Good morning,

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Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. We're just about

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

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Speaker 1: for the five things you need to notice start your day.

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Speaker 1: Brought to you Interactive Brokers. Interactive Brokers charges margin loan

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Speaker 1: dot com slash compare. First, the United Nations General Assembly

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Speaker 1: votes today on whether to suspend Russia from the Human

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Speaker 1: Rights Council. A key NATO meeting focused on the war

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Speaker 1: is also underway in Brussels. Bloomberg's Maria Todayo is there

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Speaker 1: and reports Ukraine's foreign minister is asking NATO for more weapons.

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Speaker 1: The Ukraini for Amiser said the time for the reassurance

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Speaker 1: is over. Is very clear for Ukraine have had a

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Speaker 1: big reality check on this. The nature is not going

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Speaker 1: to fight this war on the ground, but he says,

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Speaker 1: at this point what we need is big weapons. The

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Speaker 1: focus from the Ukrainian foreign ministers to walk away, walk

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Speaker 1: out from this meeting with a clear plets from NATO

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Speaker 1: that we are now going to see heavy tax potentially

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Speaker 1: also missiles. He wants to come out of this meeting

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Speaker 1: with a clear signal from them that he will get it,

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Speaker 1: and Bloombergus Maria Todao says Ukraine is also calling out Germany,

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Speaker 1: specifically saying the country has been too slow to help meantime.

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Speaker 1: In Financial Mark It's Karen the Russian ruble has made

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Speaker 1: a comeback. Trading dead levels seen before the war began

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Speaker 1: right now at about seventy nine per dollar, and we

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Speaker 1: shifted the economy now, Nathan, and markets here in the US,

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Speaker 1: investors are still working through the Fence plant to parents

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Speaker 1: balance sheet, will also hiking interest rates. We get the

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Speaker 1: details life at the Bloomberdge John Tucker, John Karen Menace

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Speaker 1: from the Fence March meetings show a hawk is till

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Speaker 1: the officials were focused on tamping down inflation and appline

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Speaker 1: plans to pair on their balance sheet by more than

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Speaker 1: a trillion dollars a year. It's raising concern about whether

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Speaker 1: the central bank and engineer a soft landing for the economy.

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Speaker 1: Many of you attended the March meeting also viewed one

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Speaker 1: or more half point rate increases as possibly appropriate going

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Speaker 1: forward Live the New York I'm John Tucker Bloomberg Daybreak

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Speaker 1: and John. A commodity call from JP. Morgan's also making news.

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Speaker 1: The firm says commodities can serge as much as it's

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Speaker 1: if investors boost raw material allocations as a hedge against inflation. Well.

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Speaker 1: Shares of HP are surging almost fifteen percent this morning. Nathan,

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Speaker 1: The move comes on word of an investment by Warren Buffett.

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Speaker 1: We get the late line from Bloomberg's Renedy Young. Good morning, Reno,

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Speaker 1: Good morning, Karen. Warren Buffett's Berkshire Hathaway bought a steak

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Speaker 1: in HP valued at more than four point two billion dollars.

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Speaker 1: The stock was purchased in multiple transactions this week, and

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Speaker 1: Berkshire now holds about one one million shares of HP. Now.

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Speaker 1: Berkshire has historically shied away from technology investments, but it's

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Speaker 1: leaned further into the sector in recent years. Live in

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Speaker 1: New York, I'm Rernita Young Bloomberg Daybreak. I need to

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Speaker 1: thank you, and that's the fine things you need to

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Speaker 1: know to start your day and straight ahead your latest

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Speaker 1: local headlines plus a check of sports, and this is Bloomberg.

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Speaker 1: Thanks Scaring six thirty three on Wall Street, forty six

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Speaker 1: degrees in Central Park. We got a new crash on

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Speaker 1: the southbound Harlem River Drive at a hundred thirty five

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Speaker 1: to tails coming up in traffic first, Michael Barr, What

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Speaker 1: else is going on in New York and around the world?

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Speaker 1: Thank you, Nathan. Major crime in New York City rose

429
00:23:52,320 --> 00:23:54,359
Speaker 1: by thirty six point five percent in March from a

430
00:23:54,440 --> 00:23:57,280
Speaker 1: year ago. Despite Mayor Eric Adam's efforts to reduce a

431
00:23:57,359 --> 00:24:01,000
Speaker 1: spike of incidents, the NYPD says it he wind shooting

432
00:24:01,040 --> 00:24:04,879
Speaker 1: incidents increased by sixteen point two percent. Mp D Commissioner

433
00:24:04,960 --> 00:24:07,960
Speaker 1: Keeaching Sewell says, though there are some positives, we are

434
00:24:08,080 --> 00:24:12,080
Speaker 1: arresting record numbers of people for shootings and homicides, and

435
00:24:12,119 --> 00:24:16,080
Speaker 1: we're clearing more cases helping to deliver justice to victims.

436
00:24:17,000 --> 00:24:20,119
Speaker 1: So far this year, the NYPD has made three hundred

437
00:24:20,119 --> 00:24:24,400
Speaker 1: and thirty five arrests linked to murders and non fatal shootings,

438
00:24:24,640 --> 00:24:27,680
Speaker 1: considerably more than the two hundred and fifty seven such

439
00:24:27,760 --> 00:24:31,600
Speaker 1: arrests made by this time last year. Commissioner Sewell says

440
00:24:31,640 --> 00:24:34,400
Speaker 1: the number of homicides fell fifteen point eight percent from

441
00:24:34,400 --> 00:24:37,520
Speaker 1: a year ago. The Senate is expected to confirm Supreme

442
00:24:37,560 --> 00:24:41,160
Speaker 1: Court nominee Katangi Brown Jackson. Today. It will secure her

443
00:24:41,200 --> 00:24:44,080
Speaker 1: place as the first black woman on the High Court.

444
00:24:44,280 --> 00:24:47,879
Speaker 1: Senate Majority leader Chuck Schumer it will be a joyous day,

445
00:24:48,160 --> 00:24:52,159
Speaker 1: Joyous for the Senate, joyous for the Supreme Court, joyous

446
00:24:52,560 --> 00:24:56,320
Speaker 1: for America. Senator Schumer says. Three Republican senators have said

447
00:24:56,359 --> 00:24:59,520
Speaker 1: that they will support Jackson, who would replace Justice Stephen

448
00:24:59,560 --> 00:25:02,600
Speaker 1: Bryer when he retires this summer. The House voted the

449
00:25:02,640 --> 00:25:06,000
Speaker 1: whole two former Trump aides Pete Navarro and Dan Scovino

450
00:25:06,280 --> 00:25:09,119
Speaker 1: in contempt of Congress for refusing to cooperate with the

451
00:25:09,119 --> 00:25:14,080
Speaker 1: panel investigating the capital attack. Committee chairman Representative Bennie Thompson.

452
00:25:14,160 --> 00:25:17,639
Speaker 1: If they were a father, a mother, a sister, brother,

453
00:25:18,440 --> 00:25:21,720
Speaker 1: uh had children. If they break the law, they break

454
00:25:21,760 --> 00:25:25,600
Speaker 1: the law. No one's above the law, Representative Thompson says.

455
00:25:25,640 --> 00:25:28,720
Speaker 1: The near party line vote was send the criminal referrals

456
00:25:28,720 --> 00:25:32,600
Speaker 1: for Navarro and Scavino to the Justice Department for possible prosecution.

457
00:25:32,880 --> 00:25:36,159
Speaker 1: The top medical advisor to President Joe Biden says a

458
00:25:36,240 --> 00:25:39,640
Speaker 1: surge in COVID nineteen cases is likely towards the end

459
00:25:39,760 --> 00:25:42,280
Speaker 1: of the year, and warns the US will run out

460
00:25:42,280 --> 00:25:45,240
Speaker 1: of tests and anti viral drugs if more funding is

461
00:25:45,359 --> 00:25:49,320
Speaker 1: not provided. Dr Anthony Fauci spoke with Bloomberg's David Weston

462
00:25:49,680 --> 00:25:51,600
Speaker 1: over the next couple of weeks, we are going to

463
00:25:51,680 --> 00:25:54,960
Speaker 1: see an uptick in cases, and hopefully there's enough background

464
00:25:54,960 --> 00:25:57,800
Speaker 1: immunity so that we don't wind up with a lot

465
00:25:57,800 --> 00:26:02,120
Speaker 1: of hospitalizations. The immunity to COVID and saws Kovie two

466
00:26:03,080 --> 00:26:05,719
Speaker 1: is something that wanes over a period of months, so

467
00:26:05,760 --> 00:26:08,880
Speaker 1: that's the wild card in this. Dr Fauci also made

468
00:26:08,880 --> 00:26:12,200
Speaker 1: a case for a second vaccine booster. Global News twenty

469
00:26:12,240 --> 00:26:14,960
Speaker 1: four hours a day on air and on Bloomberg Quick

470
00:26:15,000 --> 00:26:18,280
Speaker 1: Take Forward by more than hundred journalists and analysts in

471
00:26:18,320 --> 00:26:20,439
Speaker 1: more than a hundred twenty countries. I'm Michael Barr. This

472
00:26:20,440 --> 00:26:27,760
Speaker 1: is Bloomberg Nick. Thanks Michael Oh. Six thirty six on

473
00:26:27,800 --> 00:26:29,880
Speaker 1: Wall Street Time for the Bloomberg Sports Update with John

474
00:26:29,920 --> 00:26:32,560
Speaker 1: stash Out. Thanks Nathan. No secret the Knicks wanted to

475
00:26:32,640 --> 00:26:34,760
Speaker 1: sign Kevin Duran a few years ago, maybe because they

476
00:26:34,800 --> 00:26:37,600
Speaker 1: can't beat him. Durant's career record versus the Knicks is

477
00:26:37,640 --> 00:26:40,639
Speaker 1: twenty and three. Hasn't lost to them since two thousand

478
00:26:40,720 --> 00:26:43,000
Speaker 1: thirteen when he played for Oklahoma City. Katie is a

479
00:26:43,000 --> 00:26:45,520
Speaker 1: free agent, of course, chose the Nets over the Knicks

480
00:26:45,560 --> 00:26:46,920
Speaker 1: and at the guard and he put on a show

481
00:26:46,960 --> 00:26:50,080
Speaker 1: thirty two points, twenty three in the second half, ten rebounds,

482
00:26:50,080 --> 00:26:53,160
Speaker 1: eleven assists. Nets came from twenty one down to win

483
00:26:53,200 --> 00:26:55,439
Speaker 1: one and if they win their last two games, they

484
00:26:55,440 --> 00:26:57,960
Speaker 1: finished seventh in the East, which means they'll need to

485
00:26:57,960 --> 00:27:00,159
Speaker 1: win just one home game to move in of the

486
00:27:00,200 --> 00:27:02,800
Speaker 1: first round. Their coach, Steve Nash, now, we need our

487
00:27:02,840 --> 00:27:06,080
Speaker 1: best effort, and I think sometimes that that is a

488
00:27:06,200 --> 00:27:09,560
Speaker 1: difficult kind of mix of emotions and the physical and

489
00:27:09,800 --> 00:27:12,280
Speaker 1: mental exhaustion that we got to weather here for a

490
00:27:12,359 --> 00:27:14,480
Speaker 1: little bit. But uh, you know, the nights like tonight

491
00:27:14,480 --> 00:27:16,600
Speaker 1: can help us kind of freshening up to feel that

492
00:27:16,680 --> 00:27:20,040
Speaker 1: belief again. It was the second huge MSG comeback by

493
00:27:20,080 --> 00:27:22,040
Speaker 1: the Nets. They had an earlier win from twenty eight

494
00:27:22,080 --> 00:27:25,280
Speaker 1: down that was without Durant and without Kybrae Hervy. Opening Day,

495
00:27:25,280 --> 00:27:27,560
Speaker 1: there are seven games not the Yankees and Red Sox

496
00:27:27,560 --> 00:27:29,680
Speaker 1: at the stadium that was postponed until tomorrow. The Mets

497
00:27:29,720 --> 00:27:33,320
Speaker 1: opener in Washington was moved from four o'clock to seven.

498
00:27:33,359 --> 00:27:35,639
Speaker 1: First game of the year Wrigley Field the Braves today

499
00:27:35,720 --> 00:27:39,359
Speaker 1: Oister Championship banner in Atlantis. Joey Otani will be on

500
00:27:39,400 --> 00:27:42,120
Speaker 1: the Mount tonight for the Angels. It'll be Cleveland's first

501
00:27:42,160 --> 00:27:45,080
Speaker 1: ever game known as the Guardians. The Master's teas off

502
00:27:45,119 --> 00:27:48,840
Speaker 1: today Alines on Tiger Woods. There are others like Scottie Scheffler,

503
00:27:48,880 --> 00:27:51,040
Speaker 1: He's the hottest Golfer now ranked number one. He teas

504
00:27:51,080 --> 00:27:54,359
Speaker 1: off just before eleven this morning, Dustin Johnson, Jordan's Speed,

505
00:27:54,440 --> 00:27:57,840
Speaker 1: Rorie McElroy, Brooks Kepta. They all played this afternoon hourly

506
00:27:57,920 --> 00:28:00,919
Speaker 1: updates on Bloomberg Radio and The Rap Pub Show. Tonight,

507
00:28:01,080 --> 00:28:05,320
Speaker 1: edel having John Sports Nathan, Thank you John, six thirty

508
00:28:05,400 --> 00:28:07,159
Speaker 1: seven on Wall Street Time to take a look at

509
00:28:07,200 --> 00:28:09,399
Speaker 1: stock some of the names moving in the pre market

510
00:28:09,400 --> 00:28:12,439
Speaker 1: with Bloomberg Radio and TV Markets correspondent creating gooped to

511
00:28:12,440 --> 00:28:16,080
Speaker 1: obviously one of the big movers this morning, Creedy is HP.

512
00:28:16,880 --> 00:28:20,000
Speaker 1: Are we seeing any spillover for tech? We are seeing

513
00:28:20,000 --> 00:28:21,639
Speaker 1: a little bit of spillover for tech, but keep in

514
00:28:21,680 --> 00:28:24,000
Speaker 1: mind yesterday was a horrible day for tech. You had

515
00:28:24,280 --> 00:28:27,160
Speaker 1: the nastic at almost three percent at one point during

516
00:28:27,200 --> 00:28:29,440
Speaker 1: the session. What's interesting here is that this has nothing

517
00:28:29,480 --> 00:28:31,040
Speaker 1: to do with the rebound that you might be seeing

518
00:28:31,040 --> 00:28:32,720
Speaker 1: in some of those other tech stocks. Will start there

519
00:28:32,760 --> 00:28:35,119
Speaker 1: that Let's hit Macro first and start there with Tesla.

520
00:28:35,200 --> 00:28:36,800
Speaker 1: I mean, this has been a name in the news

521
00:28:36,880 --> 00:28:39,440
Speaker 1: given Elon Musk's addition to the Twitter board t s

522
00:28:39,560 --> 00:28:41,760
Speaker 1: l as your taker. It did actually take quite a

523
00:28:41,840 --> 00:28:44,120
Speaker 1: hit yesterday, So this is taking a rebound here up

524
00:28:44,160 --> 00:28:46,920
Speaker 1: two point one percent here in the pre market. Similar

525
00:28:46,960 --> 00:28:48,880
Speaker 1: story when it comes to those chip stocks, which also

526
00:28:49,160 --> 00:28:51,000
Speaker 1: we're taking quite the hit yesterday. A lot of that

527
00:28:51,080 --> 00:28:53,240
Speaker 1: had to do with simply the rises in that tenure

528
00:28:53,320 --> 00:28:56,320
Speaker 1: yield that you were seeing once again, higher yield, especially

529
00:28:56,360 --> 00:28:59,080
Speaker 1: by that margin a ten or fifth seventeen bass point move,

530
00:28:59,200 --> 00:29:00,760
Speaker 1: which is what we saw on the last two days,

531
00:29:01,040 --> 00:29:03,880
Speaker 1: that is going to hit those heavy valued UH set

532
00:29:03,960 --> 00:29:07,240
Speaker 1: me conductor stocks for example, or those heavy hitters in

533
00:29:07,280 --> 00:29:09,080
Speaker 1: the SP five hundred as well. So a m D

534
00:29:09,200 --> 00:29:12,440
Speaker 1: for example coming back this morning one point four percent,

535
00:29:12,560 --> 00:29:15,440
Speaker 1: Facebook as well, FB up one point three and video,

536
00:29:15,680 --> 00:29:17,920
Speaker 1: which was the big mover yesterday, n v D A

537
00:29:18,400 --> 00:29:21,600
Speaker 1: up some one. But you mentioned hp which really is,

538
00:29:21,720 --> 00:29:24,360
Speaker 1: to your point, the big mover. Hp Q is your taker.

539
00:29:24,600 --> 00:29:26,440
Speaker 1: A big warning out there, there are two takers for

540
00:29:26,600 --> 00:29:28,640
Speaker 1: hp H. P Q is the one that is actually

541
00:29:28,680 --> 00:29:32,080
Speaker 1: making the laptops and the printers. HP is they're kind

542
00:29:32,080 --> 00:29:33,600
Speaker 1: of spun out business that does a little bit more

543
00:29:33,600 --> 00:29:36,800
Speaker 1: of enterprise computing. But it's hp Q those are that

544
00:29:36,840 --> 00:29:40,200
Speaker 1: are rising quite a bit. After Lazarnita reported earlier, Warren

545
00:29:40,200 --> 00:29:43,240
Speaker 1: Buffets Berkshire Hathaway bought a steak in the laptop maper

546
00:29:43,320 --> 00:29:46,080
Speaker 1: valued at more than four point two billion dollars. So

547
00:29:46,120 --> 00:29:49,160
Speaker 1: you are seeing those shares rise some fifteen percent of

548
00:29:49,160 --> 00:29:51,840
Speaker 1: the pre market. Nathan H. P Q is the Taker, Yeah,

549
00:29:51,840 --> 00:29:53,560
Speaker 1: it certainly has been the one to watch this morning.

550
00:29:53,600 --> 00:29:55,880
Speaker 1: But outside of tech creaty, what are you looking at? Well,

551
00:29:55,920 --> 00:29:58,160
Speaker 1: two other big movers here, and it looks like it's

552
00:29:58,200 --> 00:30:00,600
Speaker 1: all coming off of the busy bees A Wels Fargo here,

553
00:30:00,880 --> 00:30:04,240
Speaker 1: Levi Strouse for example, L E. V. Eyes your Taker. Uh,

554
00:30:04,280 --> 00:30:06,160
Speaker 1: it is actually up in the in the pre market

555
00:30:06,200 --> 00:30:09,120
Speaker 1: after said revenue during the most recent quarter increased two

556
00:30:09,840 --> 00:30:13,680
Speaker 1: to one point six billion dollars. Wellth Fargoes, the aforementioned

557
00:30:13,760 --> 00:30:16,240
Speaker 1: busy bios talking about said the comments about a strong

558
00:30:16,280 --> 00:30:18,960
Speaker 1: first quarter and good momentum in March should help dispel

559
00:30:19,000 --> 00:30:21,560
Speaker 1: those investor concerns. I think that backing that's also helping

560
00:30:21,560 --> 00:30:24,120
Speaker 1: those Levi Strouse shares in the pre market. You've also

561
00:30:24,160 --> 00:30:26,840
Speaker 1: got wayfair here once again a function of a Wells

562
00:30:26,920 --> 00:30:29,240
Speaker 1: Fargo down grade, the Taker is just the letter W

563
00:30:29,680 --> 00:30:32,960
Speaker 1: down four percent, the firm downgrading it to an underweight

564
00:30:33,000 --> 00:30:35,720
Speaker 1: from equal weight. In a note that's turning a little

565
00:30:35,720 --> 00:30:39,040
Speaker 1: bit more cautious on housing impacted retailers, that housing boom

566
00:30:39,080 --> 00:30:41,600
Speaker 1: we saw in the last two years. Maybe uh, losing

567
00:30:41,640 --> 00:30:43,920
Speaker 1: a little bit of momentum there, Nathan, someone who knows

568
00:30:43,960 --> 00:30:47,720
Speaker 1: from Busy Bees, Bloomberg Radio and TV Markets corresponding Creedy Gupta,

569
00:30:47,760 --> 00:30:49,680
Speaker 1: thanks for being with us as always in the pre

570
00:30:49,800 --> 00:30:52,960
Speaker 1: market and looking at stocks as a whole before things

571
00:30:53,040 --> 00:30:55,480
Speaker 1: get going in the cash market. On this Thursday morning,

572
00:30:55,560 --> 00:30:59,600
Speaker 1: SMP futures are up twelve points, Future is up thirty,

573
00:30:59,680 --> 00:31:02,320
Speaker 1: NASA futures up sixty eight points. The ten your treasury

574
00:31:02,360 --> 00:31:04,040
Speaker 1: is higher as well by three thirty seconds. The heel

575
00:31:04,120 --> 00:31:06,160
Speaker 1: down to two point five eight percent in the yield

576
00:31:06,200 --> 00:31:09,520
Speaker 1: on the two year two point four three. Still seeing

577
00:31:09,520 --> 00:31:12,280
Speaker 1: a surge in commodities with dime x screwed up one

578
00:31:12,320 --> 00:31:16,080
Speaker 1: in three quarters percent. Nineties seven dollars nine cents for

579
00:31:16,120 --> 00:31:23,200
Speaker 1: a barrel of West Texas Intermedia. This is Bloomberg Bloomberg

580
00:31:23,240 --> 00:31:25,440
Speaker 1: eleven three oh Weather. Scattered showers and storms today, low

581
00:31:25,480 --> 00:31:27,880
Speaker 1: fifties for highs mix of sun and clouds. Tomorrow, chance

582
00:31:27,880 --> 00:31:30,840
Speaker 1: for another shower. Low sixties. Can't roll out an isolated

583
00:31:30,840 --> 00:31:34,040
Speaker 1: afternoon shower on Saturday. Upper fifties right now forty six

584
00:31:34,280 --> 00:31:41,120
Speaker 1: in Central Park Markets, headlines and breaking news twenty four

585
00:31:41,120 --> 00:31:44,160
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business

586
00:31:44,200 --> 00:31:47,840
Speaker 1: at and at Bloomberg Quicktape. This is a Bloomberg Business

587
00:31:47,880 --> 00:31:57,080
Speaker 1: Flash and I'm Cameron Moscow. Futures are moving higher this morning.

588
00:31:57,120 --> 00:31:58,920
Speaker 1: We got to the first word breaking news. Dask for

589
00:31:58,960 --> 00:32:03,040
Speaker 1: today's morning call. Here's Bell Maloney, Bell, good morning, and

590
00:32:03,160 --> 00:32:05,560
Speaker 1: good morning Karen. That's right. Modest games in the US

591
00:32:05,640 --> 00:32:07,840
Speaker 1: futures right now at down futures up twenty seven point,

592
00:32:07,920 --> 00:32:11,640
Speaker 1: sesames gain eleven, while nadsack futures are higher by sixty five.

593
00:32:12,040 --> 00:32:14,520
Speaker 1: The US ten year old at two point five eight percent.

594
00:32:14,600 --> 00:32:17,800
Speaker 1: Gold is little, chain oil trading higher, but Bitcoin is

595
00:32:17,840 --> 00:32:20,720
Speaker 1: down by one point two percent. Japan fell one point

596
00:32:20,760 --> 00:32:23,400
Speaker 1: seven percent overnight, while europ markets are in the green

597
00:32:23,480 --> 00:32:25,960
Speaker 1: this morning and back in the US on the economic

598
00:32:26,000 --> 00:32:29,400
Speaker 1: Frinday thirty initial job As claims after the Bellas night,

599
00:32:29,440 --> 00:32:32,560
Speaker 1: Analog Devices saw sales at the high end of the forecast,

600
00:32:32,880 --> 00:32:35,840
Speaker 1: and regarding earnings this morning, look for Constellation Brands to

601
00:32:35,920 --> 00:32:39,040
Speaker 1: report in the pre market. In other news, Berkshire Hathaway

602
00:32:39,080 --> 00:32:42,240
Speaker 1: added a new four point two billion dollar HP Steak

603
00:32:42,680 --> 00:32:45,640
Speaker 1: and the ft report that Meta is exploring a virtual

604
00:32:45,680 --> 00:32:49,120
Speaker 1: currency for the Metaverse. Wrapping things up, Forward was cut

605
00:32:49,160 --> 00:32:52,000
Speaker 1: to equate over at, Barkley's automation was raised to overweight

606
00:32:52,360 --> 00:32:55,800
Speaker 1: over at JP. Morgan Live from the First Breaking News desk,

607
00:32:56,080 --> 00:32:58,080
Speaker 1: Bell Maloney, Karen, all right, Phil, thank you, and to

608
00:32:58,120 --> 00:33:00,680
Speaker 1: hear live breaking news over her Bloomberg Time Swunk on

609
00:33:00,720 --> 00:33:03,120
Speaker 1: your terminal, s q U a w K and that's

610
00:33:03,120 --> 00:33:05,800
Speaker 1: a Bloomberg business flash. Now here's Michael bar with more

611
00:33:05,880 --> 00:33:08,320
Speaker 1: on what's going on around the world. Michael, Karen, thank

612
00:33:08,360 --> 00:33:11,000
Speaker 1: you very much. Ukraine is appealing to NATO for more

613
00:33:11,040 --> 00:33:14,120
Speaker 1: weapons and it's flight against Russia to help prevent further

614
00:33:14,160 --> 00:33:17,520
Speaker 1: atrocities like those reported in the city of Bucha. It

615
00:33:17,600 --> 00:33:20,000
Speaker 1: comes as the US Senate will vote today on ending

616
00:33:20,040 --> 00:33:24,280
Speaker 1: normal trade relations with Russia and banning the importation of

617
00:33:24,280 --> 00:33:27,040
Speaker 1: its oil. It is opening day in Major League Baseball.

618
00:33:27,080 --> 00:33:29,560
Speaker 1: The Mets are at the Nationals. The Yankees Red Sox

619
00:33:29,560 --> 00:33:32,640
Speaker 1: opener in New York has been postponed because of the weather.

620
00:33:33,040 --> 00:33:37,320
Speaker 1: In the NBA, the Nets beat the Knicks one, the

621
00:33:37,360 --> 00:33:40,280
Speaker 1: Celtics won, the Wizards lost. In the NHL, the Capitol's

622
00:33:40,360 --> 00:33:44,200
Speaker 1: one in Gulf Round one of the Masters begins today.

623
00:33:44,480 --> 00:33:47,320
Speaker 1: Tiger Woods is back in the field fourteen months after

624
00:33:47,400 --> 00:33:51,520
Speaker 1: a devastating car crash. Stay tuned for updates every hour

625
00:33:51,640 --> 00:33:55,479
Speaker 1: on Bloomberg Radio and a special edition of Masters Tonight

626
00:33:55,760 --> 00:33:58,760
Speaker 1: coming up at eleven pm Eastern. Global News twenty four

627
00:33:58,800 --> 00:34:01,440
Speaker 1: hours a day on air and on Bloomberg Quick Take,

628
00:34:01,680 --> 00:34:04,720
Speaker 1: powered by more than twenty seven hundred journalists and analysts

629
00:34:04,720 --> 00:34:08,000
Speaker 1: for more than twenty countries. I'm Michael Barr. This is Bloomberg.

630
00:34:08,440 --> 00:34:13,960
Speaker 1: The following commentary is from Bloomberg Opinion Leaving. I'm Jonathan Bernstein,

631
00:34:14,000 --> 00:34:16,640
Speaker 1: a calumnist for Bloomberg Opinion. Back in January, there was

632
00:34:16,680 --> 00:34:20,239
Speaker 1: a huge party imbalance in House retirements, with eighteen Democrats

633
00:34:20,239 --> 00:34:23,120
Speaker 1: and only four Republicans heading for the exits without seeking

634
00:34:23,160 --> 00:34:26,240
Speaker 1: another office. That's what one would expect during an election

635
00:34:26,280 --> 00:34:29,160
Speaker 1: cycle in which just about everyone expects Republicans to win

636
00:34:29,239 --> 00:34:32,279
Speaker 1: the House majority, but perhaps that was misleading. With two

637
00:34:32,320 --> 00:34:35,080
Speaker 1: Republicans announcing this week that they won't seek re election,

638
00:34:35,360 --> 00:34:38,520
Speaker 1: six of the last eleven retirements were Republicans, so while

639
00:34:38,520 --> 00:34:40,920
Speaker 1: it's possible things could change at the last minute, Perhaps

640
00:34:40,960 --> 00:34:44,240
Speaker 1: the biggest development since January is something that didn't happen

641
00:34:44,440 --> 00:34:47,400
Speaker 1: a flood of Democrats exiting. Without that, the number of

642
00:34:47,440 --> 00:34:51,000
Speaker 1: Democrats leaving is quite moderate for a redistricting cycle. It's

643
00:34:51,000 --> 00:34:53,360
Speaker 1: hard to see the overall retirement story as signaling a

644
00:34:53,440 --> 00:34:57,520
Speaker 1: collapse of democratic resources for the two elections. To be sure,

645
00:34:57,800 --> 00:35:01,280
Speaker 1: if Joe Biden remains unpopular, Democrat rats will suffer in November,

646
00:35:01,560 --> 00:35:04,680
Speaker 1: and perhaps badly. But if not, I'm not seeing any

647
00:35:04,680 --> 00:35:08,719
Speaker 1: strong evidence of an already built in Republican landslide. I'm

648
00:35:08,800 --> 00:35:11,600
Speaker 1: Jonathan Bernstein. For more opinion, please go to Bloomberg dot com,

649
00:35:11,600 --> 00:35:13,840
Speaker 1: Slash Opinion or O P I N go on the

650
00:35:13,840 --> 00:35:18,520
Speaker 1: Bloomberg terminal. These has been Bloomberg Opinion and Bloomberg Opinion

651
00:35:18,560 --> 00:35:21,040
Speaker 1: commentary is gonna be heard every weekday at this time

652
00:35:21,080 --> 00:35:23,880
Speaker 1: and terminal customers can read more at O P I

653
00:35:24,080 --> 00:35:27,239
Speaker 1: n go. It is six fifty on Wall Street and

654
00:35:27,360 --> 00:35:29,840
Speaker 1: then return to news and science and Technology now with

655
00:35:29,880 --> 00:35:32,239
Speaker 1: the Bloomberg and j I T. Stam Report. It is

656
00:35:32,280 --> 00:35:35,200
Speaker 1: brought to you by New Jersey Institute of Technology and

657
00:35:35,360 --> 00:35:37,960
Speaker 1: j I T makes industry ready engineers in more than

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Speaker 1: Learn more at n j I, T, DOT, E, d U,

660
00:35:43,520 --> 00:35:46,400
Speaker 1: and now Here's It's making news and science, technology, engineering,

661
00:35:46,440 --> 00:35:49,640
Speaker 1: and math. More than two years into the COVID nineteen pandemic,

662
00:35:49,719 --> 00:35:52,120
Speaker 1: US health officials are beginning to grapple with how to

663
00:35:52,239 --> 00:35:55,319
Speaker 1: keep the vaccines updated to best protect Americans from the

664
00:35:55,360 --> 00:35:59,239
Speaker 1: ever changing coronavirus. Yesterday, a panel of vaccine advisor to

665
00:35:59,320 --> 00:36:02,120
Speaker 1: the f d A spend hours debating key questions for

666
00:36:02,200 --> 00:36:06,279
Speaker 1: revamping the shots and conducting future booster campaigns. They did

667
00:36:06,320 --> 00:36:09,919
Speaker 1: not reach any firm conclusions. Boeing is hiring the three

668
00:36:10,000 --> 00:36:13,759
Speaker 1: biggest US cloud computing companies Amazon dot Com, Microsoft and

669
00:36:13,800 --> 00:36:17,400
Speaker 1: Alphabets Google to help with a digital makeover aimed at

670
00:36:17,400 --> 00:36:21,160
Speaker 1: giving its airplane designers and software developers more tools. Bowing

671
00:36:21,200 --> 00:36:24,000
Speaker 1: plans to shift hundreds of applications to the cloud, where

672
00:36:24,000 --> 00:36:26,439
Speaker 1: they'll be stored and maintained in the Tech Giants data

673
00:36:26,480 --> 00:36:30,120
Speaker 1: centers and at first in the National Football League, Bitcoin

674
00:36:30,200 --> 00:36:33,560
Speaker 1: Magazine says that Tennessee Titans will become the first NFL

675
00:36:33,600 --> 00:36:37,600
Speaker 1: team to accept bitcoin as payment. The Titans joined teams

676
00:36:37,640 --> 00:36:41,080
Speaker 1: like Major League Baseball's Oakland Athletics and the NBA Sacramento

677
00:36:41,160 --> 00:36:44,160
Speaker 1: Kings and Dallas mavericks and accepting bitcoin. And that's the

678
00:36:44,200 --> 00:36:47,719
Speaker 1: Bloomberg and j I. T Stem Report. Nathan, I'm still

679
00:36:47,719 --> 00:36:50,879
Speaker 1: stuck on Bitcoin magazine. I didn't know that was a thing.

680
00:36:51,040 --> 00:36:54,440
Speaker 1: Thanks rbscription, They thank you for that. We're live from

681
00:36:54,440 --> 00:36:57,600
Speaker 1: the Bloomberg Interactive Brokers studios, where it is now six

682
00:36:57,640 --> 00:36:59,839
Speaker 1: fifty two on Wall Street Time Now to check what's

683
00:36:59,840 --> 00:37:01,840
Speaker 1: going on in DC, where some of the top stories

684
00:37:01,880 --> 00:37:05,760
Speaker 1: include new sanctions on Putin's daughters and Russia's too largest banks,

685
00:37:06,200 --> 00:37:09,360
Speaker 1: COVID fund installed in the Senate over a fight on

686
00:37:09,440 --> 00:37:13,279
Speaker 1: border policy, and Speaker Pelosi planning a visit to Taiwan,

687
00:37:13,440 --> 00:37:16,600
Speaker 1: the first such trip in a quarter century. Let's bring

688
00:37:16,640 --> 00:37:20,319
Speaker 1: back Bloomberg Government Congressional reporter Jack Fitzpatrick for more on

689
00:37:20,360 --> 00:37:24,560
Speaker 1: all these stories, beginning of course, with the latest sanctions. Jack,

690
00:37:24,680 --> 00:37:28,640
Speaker 1: when we think about Putin's daughters, is this anything more

691
00:37:28,680 --> 00:37:33,480
Speaker 1: than symbolic? Well, this is, I guess, more minor than

692
00:37:33,520 --> 00:37:36,600
Speaker 1: the main thrust of sanctions that you know, there had

693
00:37:36,600 --> 00:37:40,000
Speaker 1: been talk for so long about targeting Putin and his

694
00:37:40,120 --> 00:37:45,160
Speaker 1: family because he could be hiding wealth in places where

695
00:37:45,200 --> 00:37:49,080
Speaker 1: it's hard to find, targeting oligarchs, but really the focus

696
00:37:49,120 --> 00:37:53,400
Speaker 1: has shifted to broader sanctions essentially to try to just

697
00:37:53,520 --> 00:37:58,320
Speaker 1: deny the Russian government the resources it needs to maintain

698
00:37:58,360 --> 00:38:00,759
Speaker 1: the war overall. So this is the thing a lot

699
00:38:00,800 --> 00:38:03,399
Speaker 1: of people have talked about for a while, but it

700
00:38:03,520 --> 00:38:06,719
Speaker 1: definitely pales in comparison. Uh, when it comes to the

701
00:38:06,760 --> 00:38:11,560
Speaker 1: importance to the conversations with European allies about any further

702
00:38:11,680 --> 00:38:16,080
Speaker 1: move away from oil and gas purchases, for example, from Russia. Uh,

703
00:38:16,200 --> 00:38:18,560
Speaker 1: it's it may not be symbolic, but it is much

704
00:38:18,600 --> 00:38:21,560
Speaker 1: smaller than the other sanctions we've heard about. Now, obviously

705
00:38:21,680 --> 00:38:24,399
Speaker 1: the oil and gas sector is something that's really been

706
00:38:24,440 --> 00:38:27,080
Speaker 1: a focus. What more could the US be looking at

707
00:38:27,080 --> 00:38:31,279
Speaker 1: when it comes to ratchetting up further sanctions pressure on Russia. Well,

708
00:38:31,680 --> 00:38:35,320
Speaker 1: you know, for one, they can continue to try to

709
00:38:35,440 --> 00:38:38,640
Speaker 1: make sure there's no escaping the sanctions that have already

710
00:38:38,680 --> 00:38:42,160
Speaker 1: been in place. I would also point out, Uh, there

711
00:38:42,400 --> 00:38:46,240
Speaker 1: is a bill that's being introduced, a bipartisan bill by

712
00:38:46,320 --> 00:38:51,280
Speaker 1: Senators Ron Widen and Rob Portman that would one actually

713
00:38:51,400 --> 00:38:56,240
Speaker 1: ensued that US companies currently paying taxes in Russia would

714
00:38:56,239 --> 00:38:59,840
Speaker 1: lose any American tax benefits, which is sort of a

715
00:39:00,040 --> 00:39:03,839
Speaker 1: roundabout way of ensuring that any pull out of American

716
00:39:04,000 --> 00:39:08,840
Speaker 1: private interests in Russia that hasn't already happened, would happen further.

717
00:39:09,200 --> 00:39:12,160
Speaker 1: So there there are bits and pieces, but again, the

718
00:39:12,400 --> 00:39:16,200
Speaker 1: unilateral issues for the US are limited, UH, and a

719
00:39:16,239 --> 00:39:19,200
Speaker 1: lot of the focus is more on Europe and of

720
00:39:19,239 --> 00:39:22,680
Speaker 1: course big countries including China and India, ensuring they don't

721
00:39:22,840 --> 00:39:26,319
Speaker 1: establish any more of an economic relationship with Russia. Well,

722
00:39:26,360 --> 00:39:29,000
Speaker 1: let's keep the focus on Capitol Hill, Jack, because there's

723
00:39:29,040 --> 00:39:32,040
Speaker 1: been a debate in the Senate on new COVID funding.

724
00:39:32,080 --> 00:39:34,640
Speaker 1: It's less than what President Biden wanted, and now we're

725
00:39:34,640 --> 00:39:38,560
Speaker 1: hearing that it may be installed indefinitely. Yeah. Well, at

726
00:39:38,560 --> 00:39:40,919
Speaker 1: first it's less than half of what the White House wanted.

727
00:39:40,960 --> 00:39:44,240
Speaker 1: They're talking about a ten billion dollar bill, uh, compared

728
00:39:44,280 --> 00:39:47,240
Speaker 1: to a request originally for twenty two and a half billion.

729
00:39:47,560 --> 00:39:50,319
Speaker 1: They got into a big fight over whether and how

730
00:39:50,400 --> 00:39:54,640
Speaker 1: to pay for it. They ultimately agreed on some offsets,

731
00:39:54,680 --> 00:39:59,120
Speaker 1: pulling back unspent money from previous stimulus packages. But then

732
00:39:59,520 --> 00:40:03,520
Speaker 1: this Title forty two debate is where they ran into trouble.

733
00:40:03,560 --> 00:40:07,040
Speaker 1: Title forty two is the policy as a CDC pandemic

734
00:40:07,160 --> 00:40:11,759
Speaker 1: era policy that allowed officials to send away migrants and

735
00:40:11,800 --> 00:40:15,560
Speaker 1: asylum seekers at the border much faster than usual, So

736
00:40:15,680 --> 00:40:19,440
Speaker 1: sort of a pandemic immigration policy that President Biden just

737
00:40:19,560 --> 00:40:22,520
Speaker 1: recently decided to end. There's a lot of Republican and

738
00:40:22,640 --> 00:40:25,839
Speaker 1: some Democratic pushback to that. Republicans said, if you want

739
00:40:25,840 --> 00:40:28,600
Speaker 1: to vote in the Senate on this ten billion dollar

740
00:40:28,680 --> 00:40:31,320
Speaker 1: COVID package, we want an amendment vote on a measure

741
00:40:31,360 --> 00:40:34,400
Speaker 1: that would block this Title forty two decision. Uh And

742
00:40:34,440 --> 00:40:37,760
Speaker 1: they have stalled entirely. They're they're set to leave later

743
00:40:37,800 --> 00:40:40,560
Speaker 1: today for a two week recess. It does not appear

744
00:40:40,920 --> 00:40:43,560
Speaker 1: even possible for them to vote on this, so that

745
00:40:44,000 --> 00:40:46,840
Speaker 1: the prospects for that have been delayed at least for

746
00:40:46,880 --> 00:40:49,560
Speaker 1: a few weeks. Now, in our last minute here Jack,

747
00:40:49,640 --> 00:40:53,120
Speaker 1: speaking of the recess, we're hearing that how Speaker Nancy Pelosi,

748
00:40:53,719 --> 00:40:56,480
Speaker 1: on her Asian trip during the break, is going to

749
00:40:56,560 --> 00:41:00,600
Speaker 1: be making a stop in Taiwan. Yes, they play these

750
00:41:00,600 --> 00:41:03,319
Speaker 1: things close to the chest, but there's reporting from the

751
00:41:03,360 --> 00:41:07,560
Speaker 1: Fuji News Network that Pelosi is expected to arrive in

752
00:41:07,719 --> 00:41:11,479
Speaker 1: Taiwan on Sunday. That would be a really significant trip

753
00:41:11,760 --> 00:41:15,960
Speaker 1: one uh. No speaker since Newt Gingrich has traveled to Taiwan.

754
00:41:16,320 --> 00:41:21,280
Speaker 1: This would rankle China, to say the least. An official

755
00:41:21,360 --> 00:41:24,560
Speaker 1: from China's Foreign ministry said there would be consequences. They

756
00:41:24,560 --> 00:41:26,719
Speaker 1: would want to push back on the US as much

757
00:41:26,760 --> 00:41:30,120
Speaker 1: as possible. UH. It seems to already have ratcheted up

758
00:41:30,280 --> 00:41:34,160
Speaker 1: the rhetoric despite no confirmation from Pelosi's office yet and

759
00:41:34,280 --> 00:41:38,200
Speaker 1: UH certainly coming at a very difficult time when the

760
00:41:38,320 --> 00:41:41,400
Speaker 1: US is trying to put some pressure on China to

761
00:41:41,520 --> 00:41:45,120
Speaker 1: do more. UH in influencing Russia in the war in Ukraine.

762
00:41:45,200 --> 00:41:48,600
Speaker 1: Jack Fitzpatrick of Bloomberg Government, thanks as always for being

763
00:41:48,640 --> 00:41:50,720
Speaker 1: with us. You can read more about all these stories

764
00:41:51,040 --> 00:41:53,920
Speaker 1: on Bloomberg dot com or on the Bloomberg terminal, and

765
00:41:53,960 --> 00:41:55,840
Speaker 1: as a reminder, you can follow all the latest on

766
00:41:55,880 --> 00:42:00,919
Speaker 1: Bloomberg Radio in Washington. Tune into Bloomberg one and one

767
00:42:00,920 --> 00:42:04,640
Speaker 1: oh five point seven FM, h D two SMP futures

768
00:42:04,719 --> 00:42:08,080
Speaker 1: right now up ten points, Staff futures up eighteen NASTAC

769
00:42:08,160 --> 00:42:11,240
Speaker 1: futures are higher by fifty eight points. The futures markets

770
00:42:11,239 --> 00:42:15,040
Speaker 1: pointing to a higher open on this Thursday morning day

771
00:42:15,080 --> 00:42:19,000
Speaker 1: after the Fed Minutes spelled out the balance sheet unwind

772
00:42:19,160 --> 00:42:22,080
Speaker 1: for the Central Bank. The tenure treasury now up one

773
00:42:22,160 --> 00:42:24,560
Speaker 1: thirty second with a yield two point five nine percent

774
00:42:24,640 --> 00:42:28,000
Speaker 1: yield on the two year two point four three niam

775
00:42:28,160 --> 00:42:30,560
Speaker 1: X crewed up one point six percent, up a dollar

776
00:42:30,600 --> 00:42:34,000
Speaker 1: fifty one at ninety seven dollars seventy two cents a barrel.

777
00:42:34,600 --> 00:42:38,399
Speaker 1: Bitcoin down one point one percent forty three thousand, four

778
00:42:38,480 --> 00:42:42,240
Speaker 1: hundred dollars. Bloomberg Surveillance up next with Tom Keene, Jonathan Farrell,

779
00:42:42,280 --> 00:42:46,320
Speaker 1: and Lisa A. Brahmowitz for Karen Moscow. I'm Nathan Hagar.

780
00:42:46,840 --> 00:42:48,120
Speaker 1: This is Bloomberg.