1 00:00:04,440 --> 00:00:07,960 Speaker 1: By from the Bloomberg Interactive Brooker Studios is Bloomberg day 2 00:00:07,960 --> 00:00:11,360 Speaker 1: Break for Friday, June three, two. Coming up this hour, 3 00:00:11,840 --> 00:00:14,960 Speaker 1: President Biden pleads with Congress to tough and gun laws. 4 00:00:15,320 --> 00:00:18,720 Speaker 1: New York lawmakers raised the h device semi automatic rifles. 5 00:00:19,120 --> 00:00:22,560 Speaker 1: Investors await the May employment report and job cuts may 6 00:00:22,560 --> 00:00:25,720 Speaker 1: be coming at Tesla. Lawmakers agree to a financial boost 7 00:00:25,720 --> 00:00:28,560 Speaker 1: to repair New York City's public housing developments. Plus the 8 00:00:28,560 --> 00:00:31,840 Speaker 1: man Hunt court sexes prisoners gape killed five on the 9 00:00:31,920 --> 00:00:34,839 Speaker 1: Loos is Over, I'm Michael blarm or a half. I'm 10 00:00:34,920 --> 00:00:37,280 Speaker 1: John stash Own Sports. The Mets shut out by the Dodgers, 11 00:00:37,320 --> 00:00:39,479 Speaker 1: the Yankees swept the double letter from the Angels, the 12 00:00:39,560 --> 00:00:45,080 Speaker 1: Celtics one game one of the NBA Final. That's alls 13 00:00:45,080 --> 00:00:48,720 Speaker 1: Training ahead on Bloomberg day Break on Bloomberg eleven three 14 00:00:48,720 --> 00:00:53,159 Speaker 1: on New York, Bloomberg one, Washington, d C, Bloomberg one 15 00:00:53,200 --> 00:00:57,680 Speaker 1: O six one, Boston, Bloomberg nine sixties and Francisco Sirius 16 00:00:57,720 --> 00:01:00,920 Speaker 1: Exam one nine team and around the world Old Bloomberg 17 00:01:01,000 --> 00:01:08,040 Speaker 1: Radio dot Com and via The Bloomberg Business and Good Morning, 18 00:01:08,040 --> 00:01:11,320 Speaker 1: I'm Karen Moscow, Nathan Hagar Bloomberg Daybreak is brought to 19 00:01:11,360 --> 00:01:14,080 Speaker 1: you by Informatica in the cloud. Your data has the 20 00:01:14,120 --> 00:01:17,319 Speaker 1: power to do the extraordinary. Managed data across any location 21 00:01:17,360 --> 00:01:21,040 Speaker 1: in the cloud for accurate and actionable insights. More at Informatica, 22 00:01:21,200 --> 00:01:24,720 Speaker 1: dot Com and US futures are lower this morning. It's 23 00:01:24,720 --> 00:01:26,639 Speaker 1: FABO one on Wall Street and we check the markets 24 00:01:26,680 --> 00:01:29,440 Speaker 1: every fifteen minutes throughout the trading day. On bloomberg S 25 00:01:29,480 --> 00:01:31,800 Speaker 1: and P Future is down about eleven points down. The 26 00:01:31,840 --> 00:01:35,080 Speaker 1: Future is down sixty four. NASDAG Future is down fifty four, 27 00:01:35,319 --> 00:01:37,400 Speaker 1: and the ten year Treasury is down one thirty second 28 00:01:37,440 --> 00:01:39,959 Speaker 1: yield two point nine one percent. They yield on the 29 00:01:40,000 --> 00:01:43,399 Speaker 1: two year two point six three NIMEX Scrude oil is 30 00:01:43,440 --> 00:01:46,080 Speaker 1: down eight tenths of a percent. Nathan Well, Karen, We 31 00:01:46,120 --> 00:01:48,800 Speaker 1: begin this morning with a plea for action from President 32 00:01:48,840 --> 00:01:52,360 Speaker 1: Biden after a wave of deadly mass shootings across the country. 33 00:01:52,600 --> 00:01:58,240 Speaker 1: Do something, Just do something, for God's sake, do something. 34 00:01:58,600 --> 00:02:00,920 Speaker 1: In a primetime address from the Fine House, the President 35 00:02:00,960 --> 00:02:03,600 Speaker 1: called for a ban on assault weapons and high capacity 36 00:02:03,640 --> 00:02:07,080 Speaker 1: magazines and an end to lawsuit protection for gunmakers. He 37 00:02:07,160 --> 00:02:10,120 Speaker 1: said responsible gun owners shouldn't be worried about their rights 38 00:02:10,200 --> 00:02:14,600 Speaker 1: going away. Machine guns have been federally regulated for nearly 39 00:02:14,680 --> 00:02:19,040 Speaker 1: ninety years, and this is still a free country. This 40 00:02:19,080 --> 00:02:23,679 Speaker 1: isn't about taking you anyone's rights shoile protecting children while 41 00:02:23,680 --> 00:02:28,920 Speaker 1: protecting families, while protecting whole communities. As President Biden spoke, 42 00:02:29,000 --> 00:02:31,480 Speaker 1: the House Judiciary Committee approved a bill that would raise 43 00:02:31,520 --> 00:02:34,280 Speaker 1: the minimum age to buy semi automatic rifles and band 44 00:02:34,400 --> 00:02:37,639 Speaker 1: high capacity magazines. That bill is not likely to pass 45 00:02:37,720 --> 00:02:40,840 Speaker 1: in the Senate. Meantime, Nathan lawmakers in New York have 46 00:02:40,960 --> 00:02:43,680 Speaker 1: raised the age to buy semi automatic rifles. The New 47 00:02:43,760 --> 00:02:47,040 Speaker 1: York State Legislature approved increasing the legal age to twenty 48 00:02:47,120 --> 00:02:49,960 Speaker 1: one from eighteen. It also passed a package aimed at 49 00:02:50,040 --> 00:02:53,280 Speaker 1: reducing the likelihood of mass shootings by tightening roles to 50 00:02:53,320 --> 00:02:56,600 Speaker 1: purchase firearms and other military equipment. Then they bring New 51 00:02:56,680 --> 00:03:00,160 Speaker 1: Jersey Karen. Governor Phil Murphy says he's optimistic his date 52 00:03:00,200 --> 00:03:02,840 Speaker 1: will also enact stronger gun laws. New Jersey is one 53 00:03:02,880 --> 00:03:05,880 Speaker 1: of the strongest gun safety states in America. We've got 54 00:03:05,919 --> 00:03:08,000 Speaker 1: a lot of past and signed in our four and 55 00:03:08,000 --> 00:03:11,120 Speaker 1: a half years. Because yet another package of bills that 56 00:03:11,280 --> 00:03:14,120 Speaker 1: we think could make our stadium the safer can. We 57 00:03:14,280 --> 00:03:16,839 Speaker 1: want to get those over the New Jersey Governor Phil 58 00:03:16,919 --> 00:03:19,880 Speaker 1: Murphy spoke with David Weston on Bloomberg's Balance of Power. 59 00:03:19,919 --> 00:03:22,600 Speaker 1: You can catch that program at noon Eastern on Bloomberg 60 00:03:22,680 --> 00:03:25,440 Speaker 1: Radio and Television. In the interest of transparency, we should 61 00:03:25,480 --> 00:03:27,720 Speaker 1: note that Michael Bloomberg, the founder and majority owner of 62 00:03:27,760 --> 00:03:30,480 Speaker 1: Bloomberg LP, the parent company of Bloomberg Radio, is a 63 00:03:30,520 --> 00:03:33,560 Speaker 1: donor to groups that support gun control. Well, another major 64 00:03:33,720 --> 00:03:37,240 Speaker 1: story we're following this morning, Nathan, the House panel investigating 65 00:03:37,320 --> 00:03:40,360 Speaker 1: last year's Capitol Hill insurrection is ready to take its 66 00:03:40,360 --> 00:03:43,600 Speaker 1: findings public, and Bloomberg's Amy Morris has details from our 67 00:03:44,320 --> 00:03:48,480 Speaker 1: newsroom in Washington. After nearly a year of investigation, subpoenas, 68 00:03:48,480 --> 00:03:51,400 Speaker 1: and testimony, the January sixth panel will lay out its 69 00:03:51,440 --> 00:03:54,000 Speaker 1: findings for the public in a series of hearing starting 70 00:03:54,040 --> 00:03:57,400 Speaker 1: next Thursday. Most of their work has been behind closed doors, 71 00:03:57,520 --> 00:04:00,200 Speaker 1: but now members say the panel will present preview the 72 00:04:00,320 --> 00:04:04,720 Speaker 1: unseen material documenting what happened on January six and provide 73 00:04:04,720 --> 00:04:07,440 Speaker 1: a summary of its findings. The first of a series 74 00:04:07,480 --> 00:04:10,160 Speaker 1: of public hearings is set for eight o'clock Thursday night. 75 00:04:10,440 --> 00:04:13,520 Speaker 1: It's prime time in the US to give the investigation 76 00:04:13,640 --> 00:04:17,560 Speaker 1: maximum exposure. In Washington. I'm maybe more as Bloomberg Daybreak. 77 00:04:17,640 --> 00:04:20,080 Speaker 1: All right, Amy, thank you. Also in Washington this morning, 78 00:04:20,080 --> 00:04:22,839 Speaker 1: we get the release of the May jobs report. Economists 79 00:04:22,839 --> 00:04:25,839 Speaker 1: predict three d twenty thousand non farm payrolls are created 80 00:04:25,960 --> 00:04:29,599 Speaker 1: last month. Regardless, Andrew Husby, US and Canada economists for 81 00:04:29,600 --> 00:04:33,200 Speaker 1: Bloomberg Economics, does not think the report will affect Fed policy. 82 00:04:33,560 --> 00:04:35,560 Speaker 1: You know, early signs that labor demand is cooling, But 83 00:04:35,600 --> 00:04:37,680 Speaker 1: certainly there's nothing in this report that's going to shape 84 00:04:37,680 --> 00:04:40,839 Speaker 1: the head off of tightening moves of at least fifty 85 00:04:40,880 --> 00:04:43,479 Speaker 1: basis points at the next couple of meeting. Andrew Husby 86 00:04:43,480 --> 00:04:46,159 Speaker 1: and Bloomberg Economics says, look for that next half point 87 00:04:46,279 --> 00:04:49,880 Speaker 1: rate hike at the FEDS policy decision coming up June. Well, 88 00:04:49,920 --> 00:04:53,120 Speaker 1: the feds major focus right now, of course, is curbing inflation, 89 00:04:53,200 --> 00:04:55,640 Speaker 1: and Black Rock chair and CEO Larry fing is weighing 90 00:04:55,640 --> 00:04:57,960 Speaker 1: in on the matter. He tells Bloomberg the Fed may 91 00:04:58,000 --> 00:05:00,799 Speaker 1: not have the tools right now to deal with higher prices. 92 00:05:01,080 --> 00:05:06,760 Speaker 1: There's greater recognition that inflation is not transitory. It is 93 00:05:06,760 --> 00:05:09,600 Speaker 1: probably with us for a number of years, and at 94 00:05:09,640 --> 00:05:12,200 Speaker 1: the type of inflation that I don't believe the Federal 95 00:05:12,240 --> 00:05:15,599 Speaker 1: Reserve has the policy or the tools to do much 96 00:05:15,720 --> 00:05:18,440 Speaker 1: with it right now. And I'm personally not blaming the 97 00:05:18,480 --> 00:05:20,760 Speaker 1: Federal Reserve for where they where we are right now, 98 00:05:21,120 --> 00:05:23,680 Speaker 1: but I believe most of the problems we're living with 99 00:05:23,720 --> 00:05:27,279 Speaker 1: today are more policy generated and supply generated. When it 100 00:05:27,320 --> 00:05:29,840 Speaker 1: comes to the economy of black Rock, CEO Larry Fink 101 00:05:29,880 --> 00:05:32,520 Speaker 1: tells us he thinks demand is just about back to 102 00:05:32,640 --> 00:05:35,360 Speaker 1: pre COVID levels. All right, let's turn to corporate news now, 103 00:05:35,440 --> 00:05:38,480 Speaker 1: Karen and the latest from Elon Musk. The test Less 104 00:05:38,480 --> 00:05:41,479 Speaker 1: CEO has reportedly told executives the electric car maker needs 105 00:05:41,520 --> 00:05:44,960 Speaker 1: to cut staff by about ten percent. According to Reuters, 106 00:05:45,040 --> 00:05:48,520 Speaker 1: Musk sent out an email titled pause all hiring worldwide. 107 00:05:48,800 --> 00:05:51,919 Speaker 1: The report says Musk has quote a super bad feeling 108 00:05:51,960 --> 00:05:54,800 Speaker 1: about the economy right now. Testless shares her down three 109 00:05:54,880 --> 00:05:57,560 Speaker 1: percent in early trading. Well on the flip side, Nathan 110 00:05:57,600 --> 00:06:02,120 Speaker 1: Walmart is adding employees. That retailer will build four new 111 00:06:02,160 --> 00:06:05,240 Speaker 1: e commerce warehouses and a push to speed deliveries. The 112 00:06:05,320 --> 00:06:08,119 Speaker 1: move will create more than four thousand jobs. It also 113 00:06:08,200 --> 00:06:11,560 Speaker 1: will let Walmart reach of the US population with one 114 00:06:11,680 --> 00:06:14,440 Speaker 1: or two days shipping. That's ut from about seventy five 115 00:06:14,480 --> 00:06:17,000 Speaker 1: percent right now and on the earning stront today Karen. 116 00:06:17,080 --> 00:06:19,320 Speaker 1: Shares of Lulu Lemon are up more than one percent 117 00:06:19,360 --> 00:06:22,400 Speaker 1: in early trading. The company reported results that beat estimates. 118 00:06:22,480 --> 00:06:25,479 Speaker 1: We get the details from Bloomberg's Doug Prisoner. The athletic 119 00:06:25,480 --> 00:06:29,719 Speaker 1: ware retailer reported comp stores sales rose in the first 120 00:06:29,839 --> 00:06:34,080 Speaker 1: quarter and net revenue reached one point six billion dollars. Importantly, 121 00:06:34,160 --> 00:06:37,480 Speaker 1: Lulu Lemon also raised its full year forecast. The company 122 00:06:37,560 --> 00:06:39,920 Speaker 1: is expecting sales to reach as much as seven point 123 00:06:40,000 --> 00:06:43,080 Speaker 1: seven billion in its fiscal year. Lulu Lemon has been 124 00:06:43,120 --> 00:06:46,719 Speaker 1: accelerating deliveries to get products to stores in time to 125 00:06:46,800 --> 00:06:50,600 Speaker 1: meet robust demand. Even so, the company says logistics problems 126 00:06:50,640 --> 00:06:54,080 Speaker 1: that hurt performance since the holiday season haven't yet fully 127 00:06:54,120 --> 00:06:58,080 Speaker 1: been alleviated. In New York, I'm Doug Prisner, Bloomberg Daybreak. Okay, Doug, 128 00:06:58,120 --> 00:07:00,080 Speaker 1: thank you right now. S and P futures are down 129 00:07:00,080 --> 00:07:03,320 Speaker 1: eleven points, Stown futures down sixty nine, Nasdaq futures are 130 00:07:03,360 --> 00:07:06,719 Speaker 1: lower by fifty five points. The Tenure Treasury is down 131 00:07:06,760 --> 00:07:09,880 Speaker 1: one thirty second yield two point nine one, and nim 132 00:07:10,040 --> 00:07:12,400 Speaker 1: X screwed is down seven tenths percent at a hundred 133 00:07:12,440 --> 00:07:16,120 Speaker 1: fifteen cents of barrel straight ahead, your latest local headlines, 134 00:07:16,160 --> 00:07:23,720 Speaker 1: and a check of sports. This is Bloomberg Sound five 135 00:07:23,720 --> 00:07:26,080 Speaker 1: oh seven on Wall Street where at sixty four foggy 136 00:07:26,120 --> 00:07:28,160 Speaker 1: degrees in such a part the deal etting with a 137 00:07:28,240 --> 00:07:30,760 Speaker 1: tractor trailer fire cleaning that up eastbound route to eighty 138 00:07:30,760 --> 00:07:33,520 Speaker 1: by eggs at nine. Details coming up in traffic. First 139 00:07:33,600 --> 00:07:35,880 Speaker 1: Michael Barr with what else is going on in New 140 00:07:35,960 --> 00:07:38,720 Speaker 1: York and around the world. Happy Friday, Michael, Happy Friday 141 00:07:38,760 --> 00:07:41,480 Speaker 1: to you, Nathan. New York lawmakers have approved a new 142 00:07:41,600 --> 00:07:45,200 Speaker 1: entity to help finance much needed renovations at New York 143 00:07:45,200 --> 00:07:48,680 Speaker 1: City's public housing developments. The New York City Public Housing 144 00:07:48,840 --> 00:07:52,320 Speaker 1: Preservation Trust will allow the New York City Housing Authority 145 00:07:52,640 --> 00:07:56,440 Speaker 1: to borrow money by pooling federal housing vouchers. The money 146 00:07:56,440 --> 00:07:59,239 Speaker 1: will be used to make urgent repairs to as many 147 00:07:59,520 --> 00:08:03,480 Speaker 1: as one hundred thousand units, many of them plagued by 148 00:08:03,520 --> 00:08:07,280 Speaker 1: mole leaks and lead paint, and made critical upgrades to 149 00:08:07,360 --> 00:08:11,520 Speaker 1: boilers and elevators. Texas prison officials say a convicted murderer 150 00:08:11,560 --> 00:08:13,640 Speaker 1: on the run since escaping a prison bus on May 151 00:08:13,720 --> 00:08:16,600 Speaker 1: twelve has been killed after he killed a family of 152 00:08:16,680 --> 00:08:20,000 Speaker 1: five and took their truck. Prison spokesman Jason Clark says 153 00:08:20,040 --> 00:08:23,520 Speaker 1: Gonzala Lopez was shot dead by law enforcement south of 154 00:08:23,560 --> 00:08:30,720 Speaker 1: San Antonio late last night. Very saddened that the murders happened, 155 00:08:31,400 --> 00:08:33,520 Speaker 1: but I will tell you that we are breathing a 156 00:08:33,559 --> 00:08:36,439 Speaker 1: sigh of relief that Lopez will not be able to 157 00:08:36,520 --> 00:08:39,760 Speaker 1: hurt anyone else. Prison spokesman Jason Clark says the five 158 00:08:39,840 --> 00:08:42,760 Speaker 1: killed and their residents included an adult and four miners. 159 00:08:43,120 --> 00:08:46,559 Speaker 1: After Lopez broke in. Authorities in Tulsa, Oklahoma, say the 160 00:08:46,600 --> 00:08:49,839 Speaker 1: suspect who killed four people inside a medical building Wednesday 161 00:08:50,240 --> 00:08:52,960 Speaker 1: was a patient to one of the victims. The victims 162 00:08:52,960 --> 00:08:56,480 Speaker 1: have been identified as Dr Preston Phillips, Dr Stephanie Houston, 163 00:08:57,000 --> 00:09:00,720 Speaker 1: Amanda Green, and William Love. The suspect has been identified 164 00:09:00,760 --> 00:09:04,920 Speaker 1: as Michael Lewis. Tulsa Police Chief Windoll Franklin said Dr 165 00:09:04,960 --> 00:09:09,080 Speaker 1: Phillips performed back surgery on Lewis, who was angry about 166 00:09:09,160 --> 00:09:12,960 Speaker 1: lingering pain. Following the operation. We have also found a 167 00:09:13,040 --> 00:09:17,840 Speaker 1: letter on this suspect which made it clear that he 168 00:09:17,960 --> 00:09:21,560 Speaker 1: came in with the intent to kill Dr Phillips and 169 00:09:21,720 --> 00:09:25,199 Speaker 1: anyone who got in his way. Gee Franklin says the 170 00:09:25,240 --> 00:09:28,600 Speaker 1: shooter took his own life when officers closed in Britain 171 00:09:28,640 --> 00:09:32,880 Speaker 1: continues to mark the Queen's platinum jubilee. Today, a service 172 00:09:32,960 --> 00:09:36,040 Speaker 1: of Thanksgiving takes place in St. Paul's Cathedral for the 173 00:09:36,120 --> 00:09:39,400 Speaker 1: Queen's historic seventy years of service. Harry and Megan will 174 00:09:39,400 --> 00:09:42,840 Speaker 1: be there. However, Prince Andrew will not. He tested positive 175 00:09:42,880 --> 00:09:45,880 Speaker 1: for COVID, and the Queen, who was ninety six, decided 176 00:09:45,920 --> 00:09:48,320 Speaker 1: to skip the trip because it will just be too 177 00:09:48,400 --> 00:09:51,000 Speaker 1: much for her. Global News twenty four hours a day 178 00:09:51,040 --> 00:09:53,560 Speaker 1: on air and on Bloomberg Quick Takee, powered by more 179 00:09:53,840 --> 00:09:57,120 Speaker 1: than journalists and analyst more than a hundred twenty countries. 180 00:09:57,440 --> 00:09:59,920 Speaker 1: Michael bar this is Bloomberg. Nathan all right, Michael, thank you, 181 00:10:00,000 --> 00:10:06,480 Speaker 1: oh for count up to five ten on Wall Street. 182 00:10:06,480 --> 00:10:09,360 Speaker 1: Time for the Bloomberg Sports Update. Good morning, John Sesshire, morning, 183 00:10:09,440 --> 00:10:12,480 Speaker 1: Nathan starting. Pitching has carried the Yankees to this great start, 184 00:10:12,520 --> 00:10:14,280 Speaker 1: and it was on display of the Brons and the 185 00:10:14,280 --> 00:10:17,319 Speaker 1: doubleheader sweep of the Angels. Up first was Nestor Cortez, 186 00:10:17,440 --> 00:10:20,120 Speaker 1: arguably the best pitcher of the Major so far. Seven 187 00:10:20,160 --> 00:10:22,920 Speaker 1: more scoreless innings the Yanks at four solo home runs 188 00:10:23,240 --> 00:10:25,719 Speaker 1: three came off Sho hey Otani. They won six to one, 189 00:10:25,720 --> 00:10:27,600 Speaker 1: as Cortes lowered as the r eight to one and 190 00:10:27,640 --> 00:10:30,440 Speaker 1: a half. And then it was Jamison Tyone's turned coming 191 00:10:30,480 --> 00:10:32,680 Speaker 1: off eight scoreless innings when he lowed only two hits. 192 00:10:32,679 --> 00:10:35,920 Speaker 1: Tylon went eight innings again. He had a perfect game going. 193 00:10:36,120 --> 00:10:38,600 Speaker 1: In the eighth, Angels broke it up and broke up 194 00:10:38,600 --> 00:10:40,640 Speaker 1: a scoreless game, but the Yanks came through bottom of 195 00:10:40,640 --> 00:10:43,000 Speaker 1: the eighth inning the two out, two run game winning 196 00:10:43,040 --> 00:10:45,959 Speaker 1: pinch hit single for Anthony Rizzo. Yanks won two to 197 00:10:46,080 --> 00:10:48,320 Speaker 1: one to sweep the twin Bill. Mets started a ten 198 00:10:48,360 --> 00:10:50,960 Speaker 1: game Southern California road trip. They had only three hits, 199 00:10:50,960 --> 00:10:53,600 Speaker 1: lost the Dodgers to nothing. That ends the Mets six 200 00:10:53,720 --> 00:10:55,880 Speaker 1: game winning three. Game one of the NBA Finals, the 201 00:10:55,880 --> 00:10:59,440 Speaker 1: Celtics trailed by fifteen, but then had a big fourth 202 00:10:59,520 --> 00:11:03,040 Speaker 1: quarter take over the shoulder pass Marcus Smart left side three. 203 00:11:03,320 --> 00:11:07,679 Speaker 1: Good night. What's then say bout Parcus ring? What they 204 00:11:07,800 --> 00:11:13,679 Speaker 1: say at the seven Sports Tub in Boston. Celtics won 205 00:11:13,760 --> 00:11:16,800 Speaker 1: that fourth quarter forty to sixteen. That's the most lopsided 206 00:11:16,880 --> 00:11:20,000 Speaker 1: fourth quarter score in Finals history. They beat Golden State 207 00:11:20,080 --> 00:11:22,839 Speaker 1: one to one. Oh eight, first team in finals history 208 00:11:23,280 --> 00:11:25,440 Speaker 1: to come from more than ten down and win by 209 00:11:25,520 --> 00:11:28,760 Speaker 1: more than ten. Salley cuple Haus, Colorado shut out Edmonton 210 00:11:28,800 --> 00:11:30,600 Speaker 1: four nothing to the Ads of a two nothing leading 211 00:11:30,600 --> 00:11:32,640 Speaker 1: in the West. The Rangers go for a two nothing 212 00:11:32,880 --> 00:11:34,679 Speaker 1: in the East. Tonight it's at the Garden with the 213 00:11:34,760 --> 00:11:37,920 Speaker 1: Rangers won seventh straight game two with Tampa Bay Raphael 214 00:11:38,000 --> 00:11:41,600 Speaker 1: the dal versus alex Arabo. Today Frank Copen Semifinal, John 215 00:11:41,640 --> 00:11:44,640 Speaker 1: stash Award Bloomberg scorts stat okay John, Thanks Right now, 216 00:11:44,760 --> 00:11:48,080 Speaker 1: SMP futures are down eleven points, Staff futures down sixty four, 217 00:11:48,200 --> 00:11:51,920 Speaker 1: Nasdaq futures down fifty seven points. The tenure Treasury is 218 00:11:51,960 --> 00:11:55,520 Speaker 1: down one thirty second yield two point nine one per cent. 219 00:11:56,000 --> 00:11:59,199 Speaker 1: Terry Haynes of Pangaea Policy with US next on the 220 00:11:59,360 --> 00:12:04,600 Speaker 1: future for gun restrictions on Capitol Hill. This is Bloomberg 221 00:12:07,600 --> 00:12:10,439 Speaker 1: Bloomberg eleven three oh wather any remaining showers on early 222 00:12:10,480 --> 00:12:12,599 Speaker 1: It'll turn probably mostly sunny today with highs in the 223 00:12:12,679 --> 00:12:17,200 Speaker 1: mid seventies, upper seventies Tomorrow low seventies. Sunshine for Sunday. 224 00:12:17,320 --> 00:12:22,520 Speaker 1: Right now sixty four and foggy in Central Park markets. 225 00:12:22,640 --> 00:12:25,679 Speaker 1: Headlines and breaking news twenty four hours a day at 226 00:12:25,760 --> 00:12:29,680 Speaker 1: Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktake, 227 00:12:30,280 --> 00:12:39,040 Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow. U 228 00:12:39,160 --> 00:12:42,320 Speaker 1: Stock Indix futures are falling after a report that Tesla 229 00:12:42,480 --> 00:12:45,880 Speaker 1: chief executive officer Elon Musk said the electric car maker 230 00:12:46,000 --> 00:12:49,720 Speaker 1: needs to cut staff amid a gloomy economic outlook. Investors 231 00:12:49,760 --> 00:12:52,959 Speaker 1: are also waiting key usp rolls data back they'll study 232 00:12:53,000 --> 00:12:55,520 Speaker 1: for clues on the pace of federal reserve policy tightening. 233 00:12:55,600 --> 00:12:57,880 Speaker 1: We checked the markets every fifteen minutes throughout the trading 234 00:12:57,960 --> 00:13:00,640 Speaker 1: day on Bloomberg S and P Future is down about 235 00:13:00,640 --> 00:13:04,040 Speaker 1: fourteen points this morning. Down features down seventy nine. Nasdack 236 00:13:04,080 --> 00:13:06,760 Speaker 1: futures down sixty nine. The decks in Germany's up a 237 00:13:06,800 --> 00:13:09,480 Speaker 1: third of a percent ten Your Treasury down one thirty 238 00:13:09,559 --> 00:13:11,800 Speaker 1: second deal two point on one percent. They yield on 239 00:13:11,880 --> 00:13:14,560 Speaker 1: the two year two point six three percent. Ni Max 240 00:13:14,600 --> 00:13:17,080 Speaker 1: screwed oils down eight tenths percent or ninety three cents, 241 00:13:17,120 --> 00:13:19,360 Speaker 1: and a hundred fifteen dollars ninety four cents of Barrel 242 00:13:19,640 --> 00:13:22,120 Speaker 1: Comic schol down a quarter percent or four dollars thirty 243 00:13:22,160 --> 00:13:25,520 Speaker 1: cents at eighteen sixty seven ten announced the euro one 244 00:13:25,559 --> 00:13:28,320 Speaker 1: point oh seven five zero against the dollar, British pound 245 00:13:28,360 --> 00:13:30,840 Speaker 1: one point to five seven one, and the ends at 246 00:13:30,880 --> 00:13:33,920 Speaker 1: one thirty point oh five. Look at a bitcoin this morning, 247 00:13:34,320 --> 00:13:37,160 Speaker 1: a tenth of a percent at thirty thousand, two hundred 248 00:13:37,280 --> 00:13:40,480 Speaker 1: sixty dollars as of Bloomberg Business Flash. Now here's Michael 249 00:13:40,520 --> 00:13:43,240 Speaker 1: Barr with more on what's going on around the world. Uncle, 250 00:13:43,280 --> 00:13:46,199 Speaker 1: good morning, Good morning, Karen. President Joe Biden called for 251 00:13:46,280 --> 00:13:50,199 Speaker 1: a ban on sales of assault weapons and high capacity magazines. 252 00:13:50,679 --> 00:13:54,319 Speaker 1: Many more innocent American lives must be taken before we 253 00:13:54,440 --> 00:13:59,120 Speaker 1: say enough enough. Meanwhile, the New York Legislature approved raising 254 00:13:59,200 --> 00:14:02,199 Speaker 1: the legal age buy semi automatic rifles from eighteen to 255 00:14:02,320 --> 00:14:05,680 Speaker 1: twenty one. Game one of the NBA Finals, the Celtics 256 00:14:05,720 --> 00:14:09,320 Speaker 1: beat the Warriors. After Wednesday's win, the Rangers host Game 257 00:14:09,360 --> 00:14:12,880 Speaker 1: two of the NHL East Final tonight against the Lightning. 258 00:14:13,160 --> 00:14:16,160 Speaker 1: In baseball, the Yankees one a double header. The Mets lost, 259 00:14:16,200 --> 00:14:19,440 Speaker 1: along with the Nationals, Orioles and Giants. Global News twenty 260 00:14:19,480 --> 00:14:22,080 Speaker 1: four hours a day on air end on Bloomberg Quicktake, 261 00:14:22,280 --> 00:14:25,240 Speaker 1: powered by more than journalists and analysts more than a 262 00:14:25,440 --> 00:14:29,000 Speaker 1: d twenty countries. Michael Barrn, this is Bloomberg. Nathan. Okay, Michael. Thanks, 263 00:14:29,040 --> 00:14:31,480 Speaker 1: It's five nineteen on Wall Street Line from the Bloomberg 264 00:14:31,520 --> 00:14:34,880 Speaker 1: Intractive Broker Studios. This is Bloomberg day Break. Let's get 265 00:14:34,960 --> 00:14:39,280 Speaker 1: more now on President Biden's primetime golf call for new 266 00:14:39,360 --> 00:14:43,520 Speaker 1: gun regulations following the wave of mass shootings across this country. 267 00:14:43,680 --> 00:14:48,040 Speaker 1: Terry Haynes joins us this morning, the founder of Pangea Policy. Terry, 268 00:14:48,120 --> 00:14:51,280 Speaker 1: it's good to speak with you this morning. The debate 269 00:14:51,480 --> 00:14:54,400 Speaker 1: over what to do about gun violence has become all 270 00:14:54,560 --> 00:14:57,880 Speaker 1: too familiar. I wonder what if any impact you think 271 00:14:57,920 --> 00:15:04,200 Speaker 1: of primetime address has on shifting that debate. Good morning, Nathan. 272 00:15:04,480 --> 00:15:06,400 Speaker 1: Uh you know one thing I would be looking at, 273 00:15:06,480 --> 00:15:10,200 Speaker 1: and I'm kind of the impact. One thing I would 274 00:15:10,440 --> 00:15:15,680 Speaker 1: be looking for is uh not is Twitter response, which 275 00:15:16,080 --> 00:15:17,960 Speaker 1: of course is not perfect, but we'll give you an 276 00:15:17,960 --> 00:15:20,560 Speaker 1: indication of the kind of the heat, if not the light. 277 00:15:21,360 --> 00:15:25,280 Speaker 1: And my quick scan of Twitter this morning on trendings 278 00:15:25,320 --> 00:15:28,000 Speaker 1: and everything else, news and everything else showed it was 279 00:15:28,080 --> 00:15:30,520 Speaker 1: barely a blip. It wasn't the top two among the 280 00:15:30,600 --> 00:15:35,000 Speaker 1: top twenty trending. I think is a bad sign for 281 00:15:35,080 --> 00:15:37,960 Speaker 1: the White House. But you know, bottom line, I think 282 00:15:38,480 --> 00:15:44,160 Speaker 1: I think I'm about something is likely to happen on 283 00:15:44,320 --> 00:15:49,520 Speaker 1: this UM. And that's despite the president's speech because fundamentally, 284 00:15:49,600 --> 00:15:53,000 Speaker 1: I think that senators are working in good faith to 285 00:15:53,040 --> 00:15:55,920 Speaker 1: come up with some common sense reforms that have been 286 00:15:56,000 --> 00:16:00,200 Speaker 1: long overdue. Frankly, UM, and the ability to do that 287 00:16:00,400 --> 00:16:04,920 Speaker 1: for many people will will will function politically as an 288 00:16:04,960 --> 00:16:08,240 Speaker 1: incumbent protection program. Uh. The the ability to say you've 289 00:16:08,280 --> 00:16:12,680 Speaker 1: done something uh in in the basic political mind, you know, 290 00:16:13,040 --> 00:16:16,240 Speaker 1: is a is a good thing. So UH, you know, 291 00:16:16,480 --> 00:16:19,120 Speaker 1: today I think something is very much likely to happen. 292 00:16:19,240 --> 00:16:21,720 Speaker 1: But you know, I think the President did not help 293 00:16:21,840 --> 00:16:24,880 Speaker 1: himself on this last night for a couple of reasons. 294 00:16:25,400 --> 00:16:28,360 Speaker 1: One is, it looks like you're leading from behind. UH. 295 00:16:28,640 --> 00:16:31,120 Speaker 1: Saying you know, we hope something will happen in the 296 00:16:31,240 --> 00:16:35,720 Speaker 1: Congress makes it look like, UH, what you're doing is 297 00:16:36,200 --> 00:16:40,640 Speaker 1: uh is engaging in a political exercise from calling for 298 00:16:40,760 --> 00:16:43,200 Speaker 1: something so you can get credit for it if something happens. 299 00:16:43,920 --> 00:16:47,280 Speaker 1: And uh, you know, and you know, frankly, going out 300 00:16:47,320 --> 00:16:52,160 Speaker 1: of your way to uh to criticize the other party 301 00:16:52,240 --> 00:16:54,680 Speaker 1: is not exactly the best way to get the other 302 00:16:54,760 --> 00:16:58,560 Speaker 1: party's cooperation. So you know, I didn't think he did 303 00:16:58,640 --> 00:17:01,080 Speaker 1: himself any favors, particular after about the first ten or 304 00:17:01,120 --> 00:17:04,240 Speaker 1: fifteen minutes at that speech. But uh, but I do 305 00:17:04,400 --> 00:17:07,480 Speaker 1: think something is likelier than not to happen today. As 306 00:17:07,520 --> 00:17:10,800 Speaker 1: you say, the President has been letting send a negotiations 307 00:17:10,880 --> 00:17:12,840 Speaker 1: sort of go forward without him. Are you implying that 308 00:17:12,920 --> 00:17:17,960 Speaker 1: he should get more directly involved in those discussions. Well, yeah, 309 00:17:18,080 --> 00:17:20,679 Speaker 1: if he's uh you know, put put bluntly, I mean, 310 00:17:20,720 --> 00:17:24,159 Speaker 1: if he if he's serious about about doing something, what 311 00:17:24,280 --> 00:17:27,560 Speaker 1: he ought to be doing is reaching past party, past 312 00:17:27,640 --> 00:17:31,399 Speaker 1: his own political party. And instead what happened last night 313 00:17:31,520 --> 00:17:35,080 Speaker 1: was I think too much about uh, you know, his 314 00:17:35,160 --> 00:17:39,120 Speaker 1: own party's positions and applause lines and and not enough 315 00:17:39,200 --> 00:17:41,159 Speaker 1: about saying, hey, look, you know we're all going to 316 00:17:41,240 --> 00:17:44,520 Speaker 1: get together on this stuff, and I'm gonna jump in. 317 00:17:45,000 --> 00:17:47,640 Speaker 1: I'm going to do what it takes uh to make 318 00:17:47,760 --> 00:17:51,200 Speaker 1: this happen. Uh. And you know that last line in particular, 319 00:17:51,359 --> 00:17:56,600 Speaker 1: wasn't there. Now? I understand you know the the the 320 00:17:56,760 --> 00:18:01,280 Speaker 1: difficulties here uh politically because President was in exactly this 321 00:18:01,800 --> 00:18:06,520 Speaker 1: situation uh nine years ago on the background checks uh 322 00:18:07,119 --> 00:18:11,399 Speaker 1: legislation sponsored by Senator's mansion. And to me and you 323 00:18:11,480 --> 00:18:15,560 Speaker 1: know that didn't get the sixty votes necessary frankly, because 324 00:18:16,200 --> 00:18:19,320 Speaker 1: four votes on the four votes and one party went 325 00:18:19,680 --> 00:18:21,600 Speaker 1: the opposite away, and four votes and the other party 326 00:18:21,640 --> 00:18:24,560 Speaker 1: want the opposite way. Uh. You know, some of those 327 00:18:24,560 --> 00:18:27,119 Speaker 1: people aren't there anymore. But you know, this is not 328 00:18:27,200 --> 00:18:29,920 Speaker 1: a one party problem. It's not a one party solution. 329 00:18:30,040 --> 00:18:32,720 Speaker 1: But if you want to get in and get something done, uh, 330 00:18:33,320 --> 00:18:35,280 Speaker 1: you know, you actually need to do it instead of 331 00:18:35,400 --> 00:18:38,240 Speaker 1: just calling on other people to do it. You only 332 00:18:38,280 --> 00:18:40,080 Speaker 1: have about a minute left here, Terry. You say you're 333 00:18:41,080 --> 00:18:43,680 Speaker 1: something getting done in the Senate. What does that something 334 00:18:43,800 --> 00:18:46,960 Speaker 1: look like? Do you think? Um? I think that's something 335 00:18:47,160 --> 00:18:49,520 Speaker 1: is you know, the people are saying that it's uh, 336 00:18:50,320 --> 00:18:52,480 Speaker 1: that it's pretty modest, and you know, and of course 337 00:18:52,520 --> 00:18:54,840 Speaker 1: I think that's true. I think you're looking at the 338 00:18:55,600 --> 00:18:58,800 Speaker 1: background checks, the age raise, the red flags, all the 339 00:18:58,920 --> 00:19:02,080 Speaker 1: kind of obvious stuff and uh. And you know, frankly, 340 00:19:02,119 --> 00:19:04,760 Speaker 1: I think Washington will do what Washington will do about 341 00:19:05,520 --> 00:19:09,040 Speaker 1: you know, the mental health basket of issues here has 342 00:19:09,080 --> 00:19:12,159 Speaker 1: more to do with throwing money at things than than 343 00:19:12,200 --> 00:19:15,520 Speaker 1: anything else, and Washington certainly proved itself to be good 344 00:19:15,600 --> 00:19:18,480 Speaker 1: at that. Recently, on a bunch of things, so you 345 00:19:18,520 --> 00:19:21,520 Speaker 1: know that that'll probably be a default, but you won't 346 00:19:21,560 --> 00:19:25,280 Speaker 1: see much more than that. Uh and uh, you know, 347 00:19:25,400 --> 00:19:28,200 Speaker 1: I wonder frankly whether you know I start I started 348 00:19:28,240 --> 00:19:30,639 Speaker 1: by saying I think this is a political instinct to 349 00:19:30,680 --> 00:19:33,240 Speaker 1: get something done. I wonder if that doesn't boomerang on 350 00:19:33,400 --> 00:19:37,359 Speaker 1: some people though, because you know, because it is so 351 00:19:37,600 --> 00:19:41,439 Speaker 1: modest compared to the problem. All right, Terry Haynes as 352 00:19:41,520 --> 00:19:44,520 Speaker 1: always good to get your thoughts. Terry Haynes, founder of 353 00:19:44,720 --> 00:19:48,000 Speaker 1: Pangia Policy with us this morning. SFP Future is right 354 00:19:48,040 --> 00:19:50,680 Speaker 1: now down fourteen points. South Future is down one. NASTAC 355 00:19:50,720 --> 00:19:55,280 Speaker 1: Futures down seventy four points. Just ahead, state moves on 356 00:19:55,440 --> 00:19:57,760 Speaker 1: gun safety in New York and New Jersey, and Elon 357 00:19:57,880 --> 00:20:01,840 Speaker 1: Musk says he has a super bad feeling about the economy. 358 00:20:01,960 --> 00:20:04,360 Speaker 1: Top stories of the morning just ahead on Bloomberg Day, 359 00:20:04,400 --> 00:20:10,399 Speaker 1: bright Bloomberg eleven three oh weather partly to mostly sunny 360 00:20:10,760 --> 00:20:13,160 Speaker 1: later today with the high year seventy five degrees upper 361 00:20:13,240 --> 00:20:16,080 Speaker 1: seventy sunshine to start the weekend tomorrow. It'll stay sunny, 362 00:20:16,160 --> 00:20:19,520 Speaker 1: low seventies for Sunday. Right now sixty four in Central Park, 363 00:20:25,119 --> 00:20:29,640 Speaker 1: broadcasting live from the Bloomberg interactive broker studio in New York, 364 00:20:29,800 --> 00:20:34,399 Speaker 1: Bloomberg E Living Free to Washington, d C. Bloomberg to Boston, 365 00:20:34,560 --> 00:20:37,960 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine 366 00:20:38,040 --> 00:20:41,280 Speaker 1: sixty to the country, Sirius XM Chadle one nine and 367 00:20:41,359 --> 00:20:44,720 Speaker 1: around the globe the Bloomberg Business app and Bloomberg Radio 368 00:20:44,880 --> 00:20:54,159 Speaker 1: dot Com. This is Bloomberg Daybreak. It's my thirty on 369 00:20:54,200 --> 00:20:57,400 Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow. 370 00:20:57,520 --> 00:20:59,680 Speaker 1: We're just about four hours away from the open of 371 00:20:59,720 --> 00:21:01,399 Speaker 1: you US trading. Let's get you up to date on 372 00:21:01,400 --> 00:21:03,080 Speaker 1: the news you need to know at this hour. And 373 00:21:03,160 --> 00:21:05,800 Speaker 1: we begin with a plea for action from President Biden 374 00:21:05,920 --> 00:21:09,000 Speaker 1: after a wave of deadly mass shootings across the country, 375 00:21:09,320 --> 00:21:13,680 Speaker 1: more kids and soldiers killed by guns, for God's sake, 376 00:21:14,400 --> 00:21:16,760 Speaker 1: how much more? Carnerge A're we willing to accept? And 377 00:21:16,800 --> 00:21:19,320 Speaker 1: at primetime address from the White House, the President called 378 00:21:19,400 --> 00:21:22,639 Speaker 1: for a ban on assault weapons and high capacity magazines 379 00:21:22,720 --> 00:21:26,000 Speaker 1: and an end to lawsuit protection for gunmakers. He said 380 00:21:26,040 --> 00:21:28,960 Speaker 1: responsible gun owners should not be worried about their rights 381 00:21:29,080 --> 00:21:31,840 Speaker 1: going away. In fact, we believe we should be treating 382 00:21:31,920 --> 00:21:35,040 Speaker 1: responsible gun owners. As an example, of Hower, every gun 383 00:21:35,080 --> 00:21:38,399 Speaker 1: owner should behave. As President Biden spoke, the House Judiciary 384 00:21:38,480 --> 00:21:41,200 Speaker 1: Committee approved a bill that would raise the minimum age 385 00:21:41,240 --> 00:21:45,159 Speaker 1: to buy semi automatic rifles and van high capacity magazines. 386 00:21:45,520 --> 00:21:48,720 Speaker 1: That bill is not likely to pass in the Senate. Well, meantime, 387 00:21:48,760 --> 00:21:51,040 Speaker 1: in New York here and lawmakers, they're raised the legal 388 00:21:51,080 --> 00:21:53,000 Speaker 1: age to buy send me out of back rifles to 389 00:21:53,600 --> 00:21:57,159 Speaker 1: from eighteen. They also passed legislation tightening rules to purchase 390 00:21:57,200 --> 00:22:00,680 Speaker 1: firearms and other military equipment. Well in neighbor New Jersey, 391 00:22:00,840 --> 00:22:04,359 Speaker 1: Nathan Governor Phil Murphy is optimistic his state will enact 392 00:22:04,440 --> 00:22:07,879 Speaker 1: stronger gun laws, but says New Jersey cannot do it alone. 393 00:22:08,160 --> 00:22:11,399 Speaker 1: We're not an island or of the crime guns that 394 00:22:11,480 --> 00:22:13,840 Speaker 1: are recovered in New Jersey from honest state, so we 395 00:22:13,960 --> 00:22:17,040 Speaker 1: need conference to act. New Jersey Governor Phil Murphy spoke 396 00:22:17,080 --> 00:22:20,120 Speaker 1: to David Weston on Bloomberg's Balance of Power, airing noon 397 00:22:20,280 --> 00:22:23,320 Speaker 1: Eastern on Bloomberg Radio and Television. Man. In the interest 398 00:22:23,400 --> 00:22:26,520 Speaker 1: of transparency, we should note that Michael Bloomberg, founder majority 399 00:22:26,560 --> 00:22:29,120 Speaker 1: owner of Bloomberg LP, the parent company of Bloomberg Radio, 400 00:22:29,240 --> 00:22:31,720 Speaker 1: donates to groups that support gun control. One of the 401 00:22:31,800 --> 00:22:34,560 Speaker 1: major story we're following this morning, Nathan, the House panel 402 00:22:34,600 --> 00:22:38,480 Speaker 1: investigating last year's Capitol Hill insurrection is ready to take 403 00:22:38,560 --> 00:22:41,639 Speaker 1: its findings public. The first set of public hearings begins 404 00:22:41,840 --> 00:22:45,480 Speaker 1: next Thursday. It's set to broadcast in primetime at eight pm. 405 00:22:45,800 --> 00:22:48,240 Speaker 1: Stay in Washington. Can we get the release this morning 406 00:22:48,280 --> 00:22:51,640 Speaker 1: of the May jobs report. Economists survey predict three twenty 407 00:22:51,680 --> 00:22:54,720 Speaker 1: thousand non farm payrolls are created last month. And corporate 408 00:22:54,760 --> 00:22:57,720 Speaker 1: news Nathan Elon Musk is reportedly looking to cut jobs 409 00:22:57,760 --> 00:23:01,159 Speaker 1: at Tesla. According to Reuter's thee wants to cut staff 410 00:23:01,200 --> 00:23:04,840 Speaker 1: by about ten percent. Musk send out an email titled 411 00:23:05,200 --> 00:23:08,919 Speaker 1: pause all hiring worldwide. The report said Musk has quote 412 00:23:09,040 --> 00:23:12,400 Speaker 1: super bad feelings about the economy. On the flip side, Karen, 413 00:23:12,440 --> 00:23:15,439 Speaker 1: Walmart is adding employees. The retailer will build four new 414 00:23:15,520 --> 00:23:18,080 Speaker 1: e commerce warehouses and a push to speed deliveries. The 415 00:23:18,160 --> 00:23:20,280 Speaker 1: move will create more than four thousand jobs and we'll 416 00:23:20,359 --> 00:23:23,760 Speaker 1: let Walmart reach of the US population with one or 417 00:23:23,840 --> 00:23:26,600 Speaker 1: two day shipping. S and p Future is down about 418 00:23:26,640 --> 00:23:30,400 Speaker 1: fifteen points this morning. Straight ahead, your latest local headlines 419 00:23:30,480 --> 00:23:38,840 Speaker 1: plus the check of sports, and this is Bloomberg, all right, Karen, 420 00:23:38,880 --> 00:23:41,760 Speaker 1: thanks sixty three degrees in Central Park at five thirty 421 00:23:41,840 --> 00:23:43,920 Speaker 1: three on Wall Street. Got an accident on the northbound 422 00:23:43,960 --> 00:23:46,720 Speaker 1: New Jersey Turnpike. Looks at the western spurad exit eighteen 423 00:23:46,760 --> 00:23:49,560 Speaker 1: duty details coming up in traffic. First Michael Barr with 424 00:23:49,760 --> 00:23:51,639 Speaker 1: what else is going on in New York and around 425 00:23:51,680 --> 00:23:54,640 Speaker 1: the world. Michael, thank you very much. Nathan. Their New 426 00:23:54,760 --> 00:23:57,879 Speaker 1: York public housing units full of mold, leaks, lead paint, 427 00:23:57,960 --> 00:24:02,760 Speaker 1: broken boilers, and busted elevator. Yesterday, New York lawmakers approved 428 00:24:02,960 --> 00:24:06,000 Speaker 1: a new entity to do something about it in finance 429 00:24:06,160 --> 00:24:09,959 Speaker 1: much needed renovations. The New York City Public Housing Preservation 430 00:24:10,080 --> 00:24:12,680 Speaker 1: Trust will allow the New York City Housing Authority to 431 00:24:12,720 --> 00:24:16,600 Speaker 1: borrow money by pooling federal housing voutiers. The money will 432 00:24:16,600 --> 00:24:19,040 Speaker 1: be used to repair as many as a hundred thousand units. 433 00:24:19,400 --> 00:24:22,280 Speaker 1: Authorities in tell Us, Oklahoma, say the suspect who killed 434 00:24:22,320 --> 00:24:25,080 Speaker 1: four people inside a medical building Wednesday was a patient 435 00:24:25,440 --> 00:24:27,880 Speaker 1: to one of the victims. They have been identified as 436 00:24:28,080 --> 00:24:32,880 Speaker 1: Dr Preston Phillips, Dr Stephanie Yusson, Amanda Green, and William 437 00:24:32,960 --> 00:24:36,400 Speaker 1: Love Toulds. The police chief, Wendell Franklin, said Dr Phillips 438 00:24:36,480 --> 00:24:40,280 Speaker 1: performed back surgery on the suspect. He blamed Dr Phillips 439 00:24:40,640 --> 00:24:45,280 Speaker 1: for the ongoing pain following the surgery. Chief Franklin says 440 00:24:45,440 --> 00:24:48,840 Speaker 1: the suspect has been identified as Michael Lewis. Authorities in 441 00:24:48,920 --> 00:24:51,560 Speaker 1: Texas say a convicted murderer who escaped from a prison 442 00:24:51,640 --> 00:24:54,639 Speaker 1: bus last month was shot dead by police last night 443 00:24:54,720 --> 00:24:58,480 Speaker 1: after being accused of killing five people. Officials say Gonzala 444 00:24:58,560 --> 00:25:01,800 Speaker 1: Lopez is believed to have killed an adult and four 445 00:25:01,920 --> 00:25:06,280 Speaker 1: miners after breaking into a Leon County residents Atascosa County. 446 00:25:06,359 --> 00:25:09,320 Speaker 1: Sheriff of David Soward says law enforcement spot at the 447 00:25:09,359 --> 00:25:12,640 Speaker 1: pickup truck Lopez is believed to have stolen from the residents. 448 00:25:13,080 --> 00:25:15,920 Speaker 1: After a brief chase, Lopez accident the truck and was 449 00:25:16,040 --> 00:25:18,800 Speaker 1: killed in a shootout with officers. He was in prison 450 00:25:18,920 --> 00:25:24,320 Speaker 1: for murder, so he's serving a last sentence already, so 451 00:25:25,320 --> 00:25:27,080 Speaker 1: you know, he didn't want to go after prison obviously, 452 00:25:27,200 --> 00:25:29,680 Speaker 1: and we knew what kind of person he was and 453 00:25:29,760 --> 00:25:31,480 Speaker 1: what kind of action he probably was going to take. 454 00:25:32,080 --> 00:25:35,760 Speaker 1: Sheriff Soward says no officers were injured. Britain continues to 455 00:25:35,840 --> 00:25:39,760 Speaker 1: celebrate the Queen's jubilee for seventy years on the throne. Today, 456 00:25:39,840 --> 00:25:43,359 Speaker 1: a service of Thanksgiving takes place in St. Paul's Cathedral. However, 457 00:25:43,560 --> 00:25:46,760 Speaker 1: the Queen plans to skip the event. Global News twenty 458 00:25:46,800 --> 00:25:49,560 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 459 00:25:49,840 --> 00:25:52,639 Speaker 1: powered by more than journalists and analysts more than a 460 00:25:52,720 --> 00:25:55,480 Speaker 1: hundred twenty countries. H Michael Barr and this is Bloomberg. 461 00:25:55,560 --> 00:26:03,240 Speaker 1: Nathan all right, Michael, thank you, Wall Street. Time for 462 00:26:03,280 --> 00:26:05,920 Speaker 1: the Bloomberg Sports Update with John Steen Shower Acts Day. 463 00:26:05,960 --> 00:26:08,680 Speaker 1: Then big comeback to start the NBA Finals, Golden State 464 00:26:08,800 --> 00:26:11,880 Speaker 1: led Boston by fifteen. Celtics then won the fourth quarter 465 00:26:11,960 --> 00:26:14,439 Speaker 1: of forty to sixteen, and they still Game one from 466 00:26:14,480 --> 00:26:17,760 Speaker 1: the Warriors one oh eight. The Celtics made more than 467 00:26:17,840 --> 00:26:20,639 Speaker 1: half of their three pointers. Steph Curry drained six threes 468 00:26:21,040 --> 00:26:23,639 Speaker 1: in the first quarter, but only one after that. Samley 469 00:26:23,680 --> 00:26:26,560 Speaker 1: Cup winous Colorado, who won Game one eight to six 470 00:26:26,640 --> 00:26:28,840 Speaker 1: to Game two from Edmonton four and update in the 471 00:26:28,880 --> 00:26:31,719 Speaker 1: asley of the West Finals to nothing Rangers in lightning 472 00:26:31,840 --> 00:26:33,760 Speaker 1: Game two in the East tonight at the Garden. With 473 00:26:33,880 --> 00:26:35,800 Speaker 1: the Rangers have won seven in a row. The Blue 474 00:26:35,800 --> 00:26:38,680 Speaker 1: Shirts overall have won their last three by a combined 475 00:26:39,240 --> 00:26:42,560 Speaker 1: seventeen to six at the Stadium. Doubleheaders sway if the Yankees, 476 00:26:42,600 --> 00:26:44,399 Speaker 1: who teed off on show he O Tani in a 477 00:26:44,440 --> 00:26:46,800 Speaker 1: game a year ago in the Bronx hit three solo 478 00:26:46,920 --> 00:26:49,639 Speaker 1: home runs off him, including Aaron Judge's nineteenth of the year, 479 00:26:49,680 --> 00:26:53,080 Speaker 1: and with Nestor Cortez dominant again, Yanks won the opener 480 00:26:53,119 --> 00:26:56,000 Speaker 1: over the Angels six to one. The nightcap saw Jamison 481 00:26:56,119 --> 00:26:59,000 Speaker 1: tyonn flirt with a perfect game. He lost it and 482 00:26:59,200 --> 00:27:01,120 Speaker 1: lost the lead in the eighth inning, but the Yanks 483 00:27:01,200 --> 00:27:03,720 Speaker 1: one two to one thanks to an Anthony Rizzo two 484 00:27:03,800 --> 00:27:06,719 Speaker 1: out to run pinched single in the eight Mets had 485 00:27:06,720 --> 00:27:09,240 Speaker 1: only three hits, lost the start of the road trip 486 00:27:09,280 --> 00:27:11,920 Speaker 1: to the Dodgers to nothing. Tony Gonsolin now six and 487 00:27:11,960 --> 00:27:14,520 Speaker 1: oh for l a t Betawan waffle and stuff at 488 00:27:14,560 --> 00:27:17,600 Speaker 1: his first loss. Ryan Fitzpatrick, who came out of Harvard 489 00:27:17,680 --> 00:27:20,720 Speaker 1: a quarterback in the NFL for seventeen season for nine 490 00:27:20,800 --> 00:27:23,800 Speaker 1: different teams, including a stint with the Jets, retired at 491 00:27:23,840 --> 00:27:26,560 Speaker 1: the age of thirty nine. Franch open the women's final 492 00:27:26,640 --> 00:27:29,800 Speaker 1: tomorrow will be Poland's Eagles Swayattech, who's won thirty four 493 00:27:29,840 --> 00:27:32,560 Speaker 1: matches in a row against the eighteen year old American 494 00:27:32,680 --> 00:27:36,080 Speaker 1: Coco Golf Men's Semi's coming up today with Raphaelo dal Facing, 495 00:27:36,359 --> 00:27:40,560 Speaker 1: Alex Sarraga, John Stashward Bloomberg Sports. Okay, John, Thanks, It's 496 00:27:40,600 --> 00:27:42,960 Speaker 1: five seven on Wall Street. Time for the Tri State 497 00:27:43,040 --> 00:27:46,800 Speaker 1: Business Report. Here's Bloomberg, Scott Carr, a Staten Island fixture, 498 00:27:46,960 --> 00:27:50,600 Speaker 1: the eighty year old Nunzio's Pizzeria, and the Prime Corner. 499 00:27:50,640 --> 00:27:53,280 Speaker 1: A lot slice of East Shore commercial real estate it 500 00:27:53,359 --> 00:27:55,600 Speaker 1: sits on is on the market for a cool one 501 00:27:55,640 --> 00:27:59,400 Speaker 1: point nine million. New York Business Journal reports that's inspired 502 00:27:59,440 --> 00:28:02,160 Speaker 1: waves of panic among the pizza purists who have been 503 00:28:02,200 --> 00:28:05,320 Speaker 1: going there for decades for their crisp crust pies covered 504 00:28:05,400 --> 00:28:08,440 Speaker 1: with generous slabs of mozzarella. They had a little ribbon 505 00:28:08,480 --> 00:28:11,520 Speaker 1: cutting this week to mark the return of Canada's largest airline, 506 00:28:11,640 --> 00:28:15,960 Speaker 1: Air Canada, to Hartford's Bradley International Airport. They're restoring daily 507 00:28:16,040 --> 00:28:20,480 Speaker 1: NonStop service between Connecticut and Toronto's Pearson International. The service 508 00:28:20,560 --> 00:28:22,880 Speaker 1: had been shut down for two years since the start 509 00:28:22,920 --> 00:28:25,399 Speaker 1: of the pandemic. The month of May saw drop in 510 00:28:25,560 --> 00:28:28,879 Speaker 1: office space leasing in Manhattan. That's despite a lot of 511 00:28:28,960 --> 00:28:32,159 Speaker 1: workers coming back to the city. Collier says leasing was 512 00:28:32,280 --> 00:28:34,879 Speaker 1: down eight percent from April, and there's a lot of 513 00:28:34,960 --> 00:28:38,840 Speaker 1: empty office and retail space available. That's the Bloomberg Tri 514 00:28:38,960 --> 00:28:42,400 Speaker 1: State Business Report. I'm Scott Carr. Okay, Scott, thank you. 515 00:28:42,520 --> 00:28:45,040 Speaker 1: It's five thirty eight on Wall Street. Bloomberg Radio is 516 00:28:45,080 --> 00:28:47,600 Speaker 1: on the air from San Francisco to New York, London 517 00:28:47,680 --> 00:28:49,960 Speaker 1: to Hong Kong. Let's check in with our global news 518 00:28:50,040 --> 00:28:51,840 Speaker 1: team for some of the top stories heard on our 519 00:28:51,960 --> 00:28:58,520 Speaker 1: three hundred affiliate radio stations around the world. I'm Steve 520 00:28:58,600 --> 00:29:01,760 Speaker 1: Potas Scott TenTen Ins in New York. We're talking about 521 00:29:01,880 --> 00:29:06,600 Speaker 1: an amended merger deal between Spirit and Frontier Airlines, including 522 00:29:06,640 --> 00:29:09,680 Speaker 1: a breakup fee. I'm Ginas so Ready in for w 523 00:29:09,920 --> 00:29:12,960 Speaker 1: BBM in Chicago. I'm reporting with at Walmart plans to 524 00:29:13,040 --> 00:29:16,760 Speaker 1: build four new warehouses to stage deliveries, including one new 525 00:29:16,840 --> 00:29:21,040 Speaker 1: facility in Juliet. I'm Stephen Carol on DAB Digital Radio 526 00:29:21,080 --> 00:29:23,680 Speaker 1: in London. UK markets are closed as it's day two 527 00:29:23,760 --> 00:29:26,920 Speaker 1: off the Queen's Platinum Jubilee celebrations, but the Monarch won't 528 00:29:26,960 --> 00:29:30,120 Speaker 1: be attending the main Thanksgiving service at St. Paul's Cathedral. 529 00:29:30,680 --> 00:29:33,680 Speaker 1: I'm Courtney Tannaho on ktr H in Houston. More than 530 00:29:33,760 --> 00:29:37,160 Speaker 1: half of small business owners have open positions they felt. 531 00:29:37,480 --> 00:29:40,680 Speaker 1: I'm Scott Carr on w w J in Detroit. I'm 532 00:29:40,760 --> 00:29:45,320 Speaker 1: reporting on Board's being announced expansion into Michigan, and those 533 00:29:45,360 --> 00:29:48,120 Speaker 1: are some of the stories our twenty hundred Bloomberg journalists 534 00:29:48,120 --> 00:29:50,400 Speaker 1: and analysts are working on this morning around the world. 535 00:29:50,640 --> 00:29:53,560 Speaker 1: It's thirty nine on Wall Street. The following is an 536 00:29:53,720 --> 00:29:58,440 Speaker 1: editorial from Bloomberg Opinion. President Biden recently tightened sanctions on 537 00:29:58,600 --> 00:30:01,360 Speaker 1: Russia and of the notch, pushing the country closer to 538 00:30:01,480 --> 00:30:04,680 Speaker 1: defaulting on its debts. Keeping up this pressure on Russian 539 00:30:04,720 --> 00:30:08,560 Speaker 1: President Vladimir Putin is justified, but a default wouldn't be 540 00:30:08,640 --> 00:30:11,160 Speaker 1: the game change or some hope. Russia has been working 541 00:30:11,240 --> 00:30:14,360 Speaker 1: hard to maintain its stept payments, proving that Putin regards 542 00:30:14,440 --> 00:30:18,120 Speaker 1: default as a blow to his credibility. Until recently, Russian 543 00:30:18,160 --> 00:30:21,240 Speaker 1: officials had been able to exploit a sanctions loophole that 544 00:30:21,320 --> 00:30:24,239 Speaker 1: allowed debt payments to be made, but the US has 545 00:30:24,320 --> 00:30:28,200 Speaker 1: since closed this channel. Still well now, right, default would 546 00:30:28,240 --> 00:30:31,400 Speaker 1: harm Putin standing at home, It wouldn't change his thinking 547 00:30:31,480 --> 00:30:34,480 Speaker 1: on Ukraine. To end the war, the US and its 548 00:30:34,560 --> 00:30:39,160 Speaker 1: allies should concentrate, above all on curbing Russian energy exports 549 00:30:39,480 --> 00:30:43,080 Speaker 1: that remains Russia's main economic vulnerability, and that's where the 550 00:30:43,120 --> 00:30:46,640 Speaker 1: Alliance should keep its focus. This editorial was written by 551 00:30:46,680 --> 00:30:50,160 Speaker 1: the Bloomberg Opinion Editorial Board. I'm David Shipley. For more 552 00:30:50,200 --> 00:30:53,280 Speaker 1: Bloomberg opinion, please go to Bloomberg dot com, slash Opinion 553 00:30:53,520 --> 00:30:56,600 Speaker 1: or OPA and go on the Bloomberg Terminal. This has 554 00:30:56,680 --> 00:31:00,600 Speaker 1: been Bloomberg Opinion. Listen for Bloomberg opinion editorials every weekday. 555 00:31:00,640 --> 00:31:03,120 Speaker 1: At this time, terminal customers can read more at O 556 00:31:03,320 --> 00:31:06,320 Speaker 1: P I n GO, SMP futures are down fifteen point. 557 00:31:06,400 --> 00:31:10,360 Speaker 1: Staff futures down, NASTACK futures lower by seventy eight points 558 00:31:10,480 --> 00:31:14,280 Speaker 1: as we await the May payrolls report. Jennifer Lee, senior 559 00:31:14,320 --> 00:31:18,160 Speaker 1: economists at BEMO Capital work. It's joins us next on jobs. 560 00:31:18,360 --> 00:31:24,960 Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather turning partly 561 00:31:25,080 --> 00:31:27,400 Speaker 1: mostly sunny today with a hind your seventy five degrees 562 00:31:27,480 --> 00:31:30,760 Speaker 1: upper seventies sunshine to start the weekend Tomorrow, low seventies, 563 00:31:30,840 --> 00:31:33,920 Speaker 1: mostly sunny on Sunday right now sixty three in Central 564 00:31:34,000 --> 00:31:40,400 Speaker 1: Park markets. Headlines and breaking news twenty four hours a 565 00:31:40,480 --> 00:31:43,480 Speaker 1: day at Bloomberg dot Com. The Bloomberg Business apt and 566 00:31:43,680 --> 00:31:53,200 Speaker 1: at Bloomberg Quicktake, He's a Bloomberg Business Clash and I'm 567 00:31:53,280 --> 00:31:56,040 Speaker 1: Karen Moscow And this updates brought to you by Informatica 568 00:31:56,160 --> 00:31:58,040 Speaker 1: and the Cloud your data hash the power to do 569 00:31:58,120 --> 00:32:01,320 Speaker 1: the extraordinary, managed data across any location in the clown 570 00:32:01,400 --> 00:32:05,400 Speaker 1: for accurate and actionable insights. More at Informatica dot com 571 00:32:05,960 --> 00:32:08,560 Speaker 1: US dock Index futures are falling after a report that 572 00:32:08,680 --> 00:32:11,960 Speaker 1: Tesla chief executive Elon Musk said the electric car maker 573 00:32:12,080 --> 00:32:15,080 Speaker 1: needs to cut staff amid a gloomy economic outlook, and 574 00:32:15,120 --> 00:32:17,720 Speaker 1: investors are also awaiting the Mape Harrels report. At an 575 00:32:17,720 --> 00:32:20,280 Speaker 1: eight thirty Wall Street time, we checked the markets every 576 00:32:20,320 --> 00:32:23,640 Speaker 1: fifteen minutes throughout the trading day on Bloomberg. SNP futures 577 00:32:23,640 --> 00:32:26,360 Speaker 1: down eighteen points this morning down futures down a hundred 578 00:32:26,440 --> 00:32:30,240 Speaker 1: downs day futures down eighties six. The decks in Germany 579 00:32:30,440 --> 00:32:32,200 Speaker 1: is up a third of a percent. The ten year 580 00:32:32,200 --> 00:32:35,040 Speaker 1: treasury down one thirty second deal two point one one percent, 581 00:32:35,440 --> 00:32:37,760 Speaker 1: yield on the two year two point six three percent. 582 00:32:38,200 --> 00:32:40,680 Speaker 1: Nine x Screwed oil is down seven tenths percent or 583 00:32:40,720 --> 00:32:43,280 Speaker 1: seventy five cents at a hundred sixteen dollars twelve cents 584 00:32:43,320 --> 00:32:45,920 Speaker 1: of barrel and as of Bloomberg Business Flash. Now, here's 585 00:32:45,960 --> 00:32:49,040 Speaker 1: Michael Barr with more on what's going on around the world. Michael, 586 00:32:49,200 --> 00:32:51,960 Speaker 1: thank you very much, Karen. President Biden, in a primetime 587 00:32:52,000 --> 00:32:54,800 Speaker 1: address renewe this call for action to stop gun violence 588 00:32:54,840 --> 00:32:57,719 Speaker 1: in the US, Biden called for a ban on sales 589 00:32:57,800 --> 00:33:01,520 Speaker 1: of assault weapons. The UK Devnsman Street says Russian forces 590 00:33:01,600 --> 00:33:05,120 Speaker 1: f game momentum. One hundred days into the invasion into Ukraine, 591 00:33:05,560 --> 00:33:08,920 Speaker 1: Moscow is pushing to capture the Donbas region. Game one 592 00:33:09,040 --> 00:33:12,520 Speaker 1: of the NBA Finals, the Celtics beat the Warriors. After 593 00:33:12,640 --> 00:33:15,720 Speaker 1: Wednesday's when the Rangers host Game two of the NHL 594 00:33:15,880 --> 00:33:19,840 Speaker 1: East Final tonight against the Lightning. In baseball, the Yankees 595 00:33:19,880 --> 00:33:22,360 Speaker 1: won a double header against the Angels. The Mats lost 596 00:33:22,560 --> 00:33:26,000 Speaker 1: along with the Nationals, Orioles and Giants. Global News twenty 597 00:33:26,040 --> 00:33:28,440 Speaker 1: four hours a day on air end on Bloomberg Quick 598 00:33:28,480 --> 00:33:31,920 Speaker 1: Take Power by more than hundred journalists analysts more than 599 00:33:31,920 --> 00:33:36,160 Speaker 1: a hundred twenty countries. I'm Michael Barr. This is Bloomberg. Nathan. Okay, Michael, 600 00:33:36,200 --> 00:33:38,120 Speaker 1: thanks for coming up to five forty nine on Wall 601 00:33:38,160 --> 00:33:41,240 Speaker 1: Street Live from the Bloomberg Interactive Broker Studios. This is 602 00:33:41,360 --> 00:33:44,720 Speaker 1: Bloomberg day Break on this Jobs Friday. We are joined 603 00:33:44,760 --> 00:33:48,720 Speaker 1: this morning by Jennifer Lee, senior economist at BEMO Capital Markets, 604 00:33:48,760 --> 00:33:51,000 Speaker 1: for look ahead to the May payrolls report DOT in 605 00:33:51,120 --> 00:33:54,640 Speaker 1: less than three hours time, Jen, good morning. Looking at 606 00:33:54,760 --> 00:33:57,440 Speaker 1: data on the Bloomberg terminal, looks like there's a pretty 607 00:33:57,480 --> 00:33:59,920 Speaker 1: good amount of conviction that we're gonna see a slow 608 00:34:00,200 --> 00:34:03,840 Speaker 1: down from last month's number of four twenty eight thousand 609 00:34:04,160 --> 00:34:07,480 Speaker 1: non farm payrolls created in April. Is that what you're 610 00:34:07,480 --> 00:34:11,640 Speaker 1: looking for? We are on board with that. Good morning. Yeah, 611 00:34:11,719 --> 00:34:16,319 Speaker 1: we're looking for about a three increase um in the months, 612 00:34:16,360 --> 00:34:18,319 Speaker 1: and this is following a couple of actually two straight 613 00:34:18,360 --> 00:34:21,720 Speaker 1: months of four y eight thousand games. This is totally 614 00:34:21,760 --> 00:34:23,839 Speaker 1: to be expected. I think, I don't there's no way 615 00:34:23,920 --> 00:34:26,440 Speaker 1: you can continue on with those you know, seven hundred 616 00:34:26,480 --> 00:34:29,160 Speaker 1: thousand plus games that we saw, you know, last year. 617 00:34:29,239 --> 00:34:31,239 Speaker 1: It's a momentum starting too slow and this is just 618 00:34:31,360 --> 00:34:35,560 Speaker 1: like a natural progression. But obviously continued job games is 619 00:34:35,640 --> 00:34:38,680 Speaker 1: key to all of this. You know. Just ahead of 620 00:34:38,760 --> 00:34:41,800 Speaker 1: this report coming out, we got this report from Reuter's 621 00:34:41,920 --> 00:34:45,360 Speaker 1: that Tesla is looking to freeze hiring and slash jobs 622 00:34:45,440 --> 00:34:48,920 Speaker 1: by ten percent, while at the same time Walmart is 623 00:34:49,200 --> 00:34:52,799 Speaker 1: expanding and looking to add about four thousand jobs. Does 624 00:34:52,920 --> 00:34:57,120 Speaker 1: that point to a broader shift in where job creation 625 00:34:57,239 --> 00:35:00,399 Speaker 1: is happening right now? You know what. I've think that's 626 00:35:00,440 --> 00:35:03,440 Speaker 1: interesting yet because U a certain somebody said that he 627 00:35:03,640 --> 00:35:06,920 Speaker 1: was feeling super bad about the economy and and so 628 00:35:07,080 --> 00:35:08,799 Speaker 1: that's why he's wanting he wants to cut the ten 629 00:35:08,840 --> 00:35:12,360 Speaker 1: percent of his company's jobs. It's interesting because it's also 630 00:35:12,880 --> 00:35:14,440 Speaker 1: sort of speaks to the word of some of the 631 00:35:14,520 --> 00:35:18,160 Speaker 1: shortages lie um. You know, in in automation, for example, 632 00:35:18,640 --> 00:35:21,279 Speaker 1: there's still you know, I mean, almost every sector is 633 00:35:21,520 --> 00:35:24,240 Speaker 1: feeling the pain. So you're hearing a lot about companies 634 00:35:24,280 --> 00:35:27,960 Speaker 1: who are buying more, investing more in automation and robotics 635 00:35:28,040 --> 00:35:29,759 Speaker 1: and things like that. And that's one area I think 636 00:35:30,360 --> 00:35:34,000 Speaker 1: that you know, potentially we can see some companies, you know, 637 00:35:34,120 --> 00:35:37,480 Speaker 1: replacing human beings with with you know, with machines. And 638 00:35:37,600 --> 00:35:39,560 Speaker 1: this is something that's been happening for years now. But 639 00:35:39,640 --> 00:35:41,800 Speaker 1: I think the push is now on um and it 640 00:35:41,880 --> 00:35:45,520 Speaker 1: has been on since the delabor market is so incredibly tight. 641 00:35:45,880 --> 00:35:49,200 Speaker 1: But I think at the same time, with growth already 642 00:35:49,280 --> 00:35:52,080 Speaker 1: starting to slow. You know, this is why this is 643 00:35:52,120 --> 00:35:54,799 Speaker 1: the big series that you know, jug there's so much 644 00:35:54,840 --> 00:35:56,880 Speaker 1: job demand out their job opening still you know, over 645 00:35:56,960 --> 00:35:59,480 Speaker 1: eleven million for five months in a row. Now, at 646 00:35:59,560 --> 00:36:01,480 Speaker 1: some point these things are starting to cool and companies 647 00:36:01,520 --> 00:36:04,479 Speaker 1: going to think either a, you know, demand is starting 648 00:36:04,480 --> 00:36:06,360 Speaker 1: to slow, maybe we don't need all these people that 649 00:36:06,440 --> 00:36:08,759 Speaker 1: we've been trying to hire for or be you know, 650 00:36:08,840 --> 00:36:11,239 Speaker 1: we've been dealing with a shortage already and I think, 651 00:36:11,280 --> 00:36:12,799 Speaker 1: you know, we've been getting along, so maybe we can 652 00:36:12,880 --> 00:36:15,840 Speaker 1: just make this work. So again, this is all starting 653 00:36:15,880 --> 00:36:18,200 Speaker 1: to become, you know, part of the broader story. Now, 654 00:36:18,280 --> 00:36:20,800 Speaker 1: as you mentioned, we do have a more than eleven 655 00:36:20,880 --> 00:36:23,200 Speaker 1: million job opening still out there. Are we still seeing 656 00:36:23,200 --> 00:36:27,239 Speaker 1: a mismatch when it comes to getting workers plugged in 657 00:36:27,880 --> 00:36:32,040 Speaker 1: to those jobs. It's still a problem. And that and that, 658 00:36:32,160 --> 00:36:33,640 Speaker 1: by the way, that I should mention that that Jolt 659 00:36:33,680 --> 00:36:37,600 Speaker 1: survey was was not great news. Um, even though the 660 00:36:37,680 --> 00:36:40,759 Speaker 1: number of openings are still super extremely high. I think 661 00:36:40,800 --> 00:36:43,399 Speaker 1: at the same time that same month, hiring actually fell. 662 00:36:43,560 --> 00:36:46,800 Speaker 1: So this is where that mismatch you know is happening. 663 00:36:46,840 --> 00:36:49,080 Speaker 1: Even though there's still a lot of openings, not a lot, 664 00:36:49,280 --> 00:36:52,080 Speaker 1: not as much hirings, not as many hirings taking place 665 00:36:52,080 --> 00:36:54,640 Speaker 1: as we had wanted to to see at this point. 666 00:36:56,040 --> 00:36:58,600 Speaker 1: Are we starting to see an effect from FED policy? 667 00:36:58,760 --> 00:37:01,400 Speaker 1: The increase in frustrates and now the online of the 668 00:37:01,440 --> 00:37:04,200 Speaker 1: balance sheet is that's starting to have some impact on 669 00:37:04,800 --> 00:37:08,080 Speaker 1: where the labor market is going from here? Um I 670 00:37:08,160 --> 00:37:10,880 Speaker 1: think maybe not. Um, Well, it's gonna it's gonna have 671 00:37:10,880 --> 00:37:13,440 Speaker 1: an impact in terms so again slowing demand, and that 672 00:37:13,600 --> 00:37:17,080 Speaker 1: will in turn create or or or cause slowy demand 673 00:37:17,160 --> 00:37:19,920 Speaker 1: for for workers. I think. So it's just almost like 674 00:37:20,040 --> 00:37:22,200 Speaker 1: what first, first is the demand, and then it's the 675 00:37:22,280 --> 00:37:25,600 Speaker 1: demand for for workers themselves, And so yes, it's starting 676 00:37:25,640 --> 00:37:28,920 Speaker 1: to have that impact. Um. But again I think the 677 00:37:29,040 --> 00:37:32,600 Speaker 1: shortage itself, it's been so incredibly long that we've been 678 00:37:32,680 --> 00:37:35,320 Speaker 1: talking about this, and I think this is where employers 679 00:37:35,360 --> 00:37:37,400 Speaker 1: are going to start saying, maybe we don't need as 680 00:37:37,440 --> 00:37:40,080 Speaker 1: many people as we thought. Um. And again, because of 681 00:37:40,160 --> 00:37:42,920 Speaker 1: slory demand, we're probably gonna be starting to slow the 682 00:37:43,000 --> 00:37:45,640 Speaker 1: hiring pace. And this is where I get the furious. 683 00:37:45,680 --> 00:37:48,239 Speaker 1: So I again I continue to urge anyone out there 684 00:37:48,280 --> 00:37:51,000 Speaker 1: who has, you know, multiple job offers, you have to 685 00:37:51,080 --> 00:37:54,560 Speaker 1: take one before you know they start to disappear. Only 686 00:37:54,560 --> 00:37:57,080 Speaker 1: about a minute left here, Jen, What impact, if any, 687 00:37:57,160 --> 00:37:59,560 Speaker 1: do you think this Job's report will have on FED 688 00:37:59,640 --> 00:38:02,800 Speaker 1: policy going forward? It seems like they're pretty focused on 689 00:38:03,239 --> 00:38:05,799 Speaker 1: putting in a half percentage point rate hikes at least 690 00:38:05,800 --> 00:38:08,640 Speaker 1: for the next couple of meetings here. Yes, I don't 691 00:38:08,640 --> 00:38:10,400 Speaker 1: think it's going to have a huge I mean unless 692 00:38:10,520 --> 00:38:12,960 Speaker 1: sort of seeing some hugely negative number. I don't think 693 00:38:12,960 --> 00:38:17,520 Speaker 1: it's going to be very impactful for FED policy near term. Um, 694 00:38:17,600 --> 00:38:19,080 Speaker 1: you know, they've already come out and said, you know, 695 00:38:19,120 --> 00:38:22,439 Speaker 1: to expect fifty basis points in in in in July 696 00:38:22,640 --> 00:38:26,840 Speaker 1: as well after the June hike. Now after that, I 697 00:38:26,920 --> 00:38:29,800 Speaker 1: think I still think that they're going to go ahead 698 00:38:30,040 --> 00:38:34,080 Speaker 1: faster than expected, or faster than the market initially was expecting, 699 00:38:34,160 --> 00:38:37,040 Speaker 1: just to get to neutral and Brainardo actually alluded to 700 00:38:37,120 --> 00:38:40,240 Speaker 1: that yesterday as well. Um, you know, for another fifty 701 00:38:40,320 --> 00:38:41,920 Speaker 1: fifty and if we don't see how to slow down 702 00:38:41,960 --> 00:38:45,359 Speaker 1: in the CPI, possibly another fifty after that. Thanks for this, Jen, 703 00:38:45,440 --> 00:38:47,360 Speaker 1: great to have you on as always on the Jobs Friday, 704 00:38:47,440 --> 00:38:51,840 Speaker 1: Jennifer Lee, senior economist at BMO Capital Markets. Karen Well Nathan, 705 00:38:51,960 --> 00:38:55,200 Speaker 1: a legal story we're watching this morning fifty four on 706 00:38:55,320 --> 00:38:58,120 Speaker 1: Wall Street, and we look at this story with Amber Herds, 707 00:38:58,120 --> 00:39:01,359 Speaker 1: a lawyer, saying she will appeal the jury verdict against her. 708 00:39:01,760 --> 00:39:04,680 Speaker 1: After a six week trial, a jury sided with Johnny 709 00:39:04,719 --> 00:39:07,960 Speaker 1: Depp and his defamation lawsuit against her and his ex wife, 710 00:39:08,200 --> 00:39:12,160 Speaker 1: awarding him ten million dollars in compensatory damages and five 711 00:39:12,239 --> 00:39:15,399 Speaker 1: million in punitive damages after finding that her to lied 712 00:39:15,440 --> 00:39:19,240 Speaker 1: about Depth abusing her in a December eighteen op ed piece. 713 00:39:19,640 --> 00:39:22,600 Speaker 1: The jury also awarded her to two million dollars after 714 00:39:22,719 --> 00:39:25,120 Speaker 1: finding that she was defamed by one of Depth's lawyers, 715 00:39:25,320 --> 00:39:28,800 Speaker 1: who accused her of creating a detailed hoax about the abuse. 716 00:39:29,160 --> 00:39:32,520 Speaker 1: For more of Bloomberg's June Grosso speaks to Nemma Ramani, 717 00:39:32,880 --> 00:39:36,000 Speaker 1: the president and co founder of West Coast Trial Lawyers, 718 00:39:36,640 --> 00:39:40,160 Speaker 1: to what do you attribute Depth success here? Two factors 719 00:39:40,400 --> 00:39:43,920 Speaker 1: likability and credibility. No question that Johnny Depp was the 720 00:39:44,000 --> 00:39:47,200 Speaker 1: more likable witness, both inside the court room and in 721 00:39:47,280 --> 00:39:51,200 Speaker 1: the courtroom of public opinion. But importantly credibility is the 722 00:39:51,320 --> 00:39:54,680 Speaker 1: reason Amber heard law she lied about facts that really 723 00:39:54,760 --> 00:39:58,000 Speaker 1: had nothing to do with the abuse, but for donating 724 00:39:58,200 --> 00:40:01,120 Speaker 1: seven million dollars and divorced for against se charity when 725 00:40:01,239 --> 00:40:04,400 Speaker 1: she didn't do so, the jury didn't buy that she 726 00:40:04,680 --> 00:40:07,440 Speaker 1: pledged it, not donated it. And even when it came 727 00:40:07,480 --> 00:40:10,120 Speaker 1: to TMZ and the video that she took on her 728 00:40:10,160 --> 00:40:13,040 Speaker 1: phone that made its way to TMZ, it was leaked 729 00:40:13,200 --> 00:40:16,120 Speaker 1: obviously by her or someone working in her direction. So 730 00:40:16,200 --> 00:40:18,919 Speaker 1: when she lied about these facts, the jurors were free 731 00:40:18,960 --> 00:40:22,000 Speaker 1: to disregard her testimony entirely, and they chose to do so. 732 00:40:22,400 --> 00:40:25,800 Speaker 1: Why do you think he lost the UK case where 733 00:40:25,920 --> 00:40:30,000 Speaker 1: the standard for libel is less than it is here, 734 00:40:30,239 --> 00:40:33,320 Speaker 1: and yet he won this case. What made the difference? 735 00:40:33,960 --> 00:40:38,480 Speaker 1: It's very surprising. Standard is higher for a plane us 736 00:40:38,520 --> 00:40:40,680 Speaker 1: Here in the United States. We talked about that clear 737 00:40:40,760 --> 00:40:44,160 Speaker 1: and convincing standard because John, that's the public figure, has 738 00:40:44,200 --> 00:40:47,000 Speaker 1: to show actual malice, whereas in the UK the burden 739 00:40:47,040 --> 00:40:49,560 Speaker 1: is on the defendant. The sons approved that the statements 740 00:40:49,600 --> 00:40:52,560 Speaker 1: were substantially true. That's why a lot of legal commentators, 741 00:40:52,600 --> 00:40:55,920 Speaker 1: including myself, thought that it was a mistake for him 742 00:40:55,960 --> 00:40:58,600 Speaker 1: to file directly against her here in the United States 743 00:40:58,640 --> 00:41:01,440 Speaker 1: and he would lose again. What turns out this was 744 00:41:01,640 --> 00:41:05,960 Speaker 1: both an extraordinary reg will come back, but really public 745 00:41:06,040 --> 00:41:10,040 Speaker 1: relations genius moved by doing so. You know, my twenty 746 00:41:10,120 --> 00:41:13,000 Speaker 1: years of practice, I've never seen someone come back like this. 747 00:41:13,560 --> 00:41:16,760 Speaker 1: So or Herd's lawyer says they're going to appeal the case. 748 00:41:17,280 --> 00:41:19,360 Speaker 1: What do you think the chances are an appeal is 749 00:41:19,360 --> 00:41:21,640 Speaker 1: an uppeal battle. It will be up to a battle. 750 00:41:21,680 --> 00:41:24,920 Speaker 1: I don't see any good legal basis for appeal and 751 00:41:25,040 --> 00:41:28,080 Speaker 1: rest of the illegal error. And I know they've talked 752 00:41:28,080 --> 00:41:31,239 Speaker 1: about the UK judgment not coming in and some of 753 00:41:31,320 --> 00:41:34,200 Speaker 1: the social media presudics, but I don't think the judge 754 00:41:34,239 --> 00:41:36,879 Speaker 1: of anything wrong. The UK case is obviously different case, 755 00:41:36,960 --> 00:41:39,720 Speaker 1: different parties are looking a party to that case, different 756 00:41:39,800 --> 00:41:42,839 Speaker 1: lot of applies, but really have no presidential impact here, 757 00:41:43,120 --> 00:41:45,680 Speaker 1: the really social media not much the judge can do 758 00:41:46,000 --> 00:41:49,200 Speaker 1: judge the potentially sequestioned the juror. That rarely, if ever 759 00:41:49,280 --> 00:41:51,320 Speaker 1: happens in a civil case. You just don't have the 760 00:41:51,400 --> 00:41:54,040 Speaker 1: same rights that you do as a criminal defendant. And 761 00:41:54,160 --> 00:41:57,040 Speaker 1: apparently there's some evidence that was excluded. But what I 762 00:41:57,080 --> 00:41:58,960 Speaker 1: saw from the judge is the judgestu is a lot 763 00:41:59,000 --> 00:42:01,600 Speaker 1: of good evidence for Johnny desk so In. The judge 764 00:42:01,640 --> 00:42:05,040 Speaker 1: called it pretty fairly. You can't appeal a factual decision 765 00:42:05,239 --> 00:42:08,720 Speaker 1: by a jury, such as credibility issues and those types 766 00:42:08,760 --> 00:42:13,000 Speaker 1: of things. And as Nemma Romani, the president and co 767 00:42:13,160 --> 00:42:15,920 Speaker 1: founder of West Coast Trial Lawyers, speaking at the Bloomberg 768 00:42:16,000 --> 00:42:19,000 Speaker 1: Stoe Grosso gets more of that interview plus analysis of 769 00:42:19,040 --> 00:42:21,520 Speaker 1: the latest legal news by subscribing to the Bloomberg Law 770 00:42:21,600 --> 00:42:25,480 Speaker 1: Podcast or downloading the show at Bloomberg dot com slash podcast. 771 00:42:25,719 --> 00:42:28,840 Speaker 1: Attorneys can find exceptional legal research and business development tools 772 00:42:28,880 --> 00:42:31,720 Speaker 1: at Bloomberg Law dot com and on the Bloomberg terminal 773 00:42:31,840 --> 00:42:35,400 Speaker 1: at v law Go. And again, futures are moving lower 774 00:42:35,600 --> 00:42:39,040 Speaker 1: this morning. Nimex screw it is as well and still ahead. 775 00:42:39,080 --> 00:42:41,840 Speaker 1: On Bloombergy daybreak, I check on the business headlines and 776 00:42:41,960 --> 00:42:44,920 Speaker 1: all the news you need to start your day, and 777 00:42:45,200 --> 00:42:46,400 Speaker 1: this is Bloomberg