1 00:00:03,760 --> 00:00:07,000 Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:07,080 --> 00:00:10,680 Speaker 1: Daybreak for Tuesday May third, two. Coming up this hour, 3 00:00:11,039 --> 00:00:13,920 Speaker 1: a report says the Supreme Court is poised to overturn 4 00:00:14,000 --> 00:00:17,320 Speaker 1: the landmark ruling on a portioned team coverage Straight ahead, 5 00:00:17,440 --> 00:00:20,520 Speaker 1: British Prime Minister Boris Johnson delivers a virtual address to 6 00:00:20,600 --> 00:00:24,360 Speaker 1: Ukraine's Parliament and Treasury. Yields rise ahead of the Fed beating. 7 00:00:24,720 --> 00:00:27,720 Speaker 1: New York City raises its COVID level to medium plus. 8 00:00:27,760 --> 00:00:31,960 Speaker 1: Eyes aren Ohio for today's important GOP Senate primary race. 9 00:00:32,240 --> 00:00:35,760 Speaker 1: I'm Michael Barr. More ahead, I'm John stash Award Sports 10 00:00:35,760 --> 00:00:38,720 Speaker 1: making ten straight win for the Yankees, the Mets lost. 11 00:00:38,760 --> 00:00:44,680 Speaker 1: The Rangers begin their playoff series with Pittsburgh tonight. That's 12 00:00:44,680 --> 00:00:48,640 Speaker 1: all straining Ahead on Bloomberg Daybreak on Bloomberg eleven three, 13 00:00:48,640 --> 00:00:53,120 Speaker 1: on New York, Bloomberg one, Washington, d C, Bloomberg one 14 00:00:53,120 --> 00:00:57,640 Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Sirius 15 00:00:57,760 --> 00:01:00,840 Speaker 1: x M one nineteen and around the world on Bloomberg 16 00:01:00,920 --> 00:01:07,880 Speaker 1: Radio dot Com and via The Bloomberg Business. Good Morning, 17 00:01:07,880 --> 00:01:10,759 Speaker 1: I'm Nathan Hager, and I'm Karen Moscow and US stock 18 00:01:10,840 --> 00:01:13,679 Speaker 1: index futures are little change this morning. We're coming up 19 00:01:13,720 --> 00:01:15,280 Speaker 1: to six o one on Wall Street, and we check 20 00:01:15,319 --> 00:01:18,040 Speaker 1: the markets every fifteen minutes throughout the trading day on 21 00:01:18,160 --> 00:01:21,480 Speaker 1: Bloomberg Guess and P Futures again little change. The decks 22 00:01:21,520 --> 00:01:24,080 Speaker 1: in Germany is up six ten sive Upper sent the 23 00:01:24,120 --> 00:01:26,440 Speaker 1: ten year treasury up one thirty second ye two point 24 00:01:26,520 --> 00:01:28,600 Speaker 1: nine seven percent, in the yield of the two year 25 00:01:28,680 --> 00:01:31,760 Speaker 1: two point seven six percent, and nim X screwed oil 26 00:01:31,959 --> 00:01:34,840 Speaker 1: is down one point to percent. Nathan Karen, we'll have 27 00:01:34,920 --> 00:01:37,800 Speaker 1: more on markets in a minute. First, though, protesters gathered 28 00:01:37,800 --> 00:01:40,600 Speaker 1: outside the Supreme Court overnight in response to a leaked 29 00:01:40,720 --> 00:01:44,800 Speaker 1: draft opinion published in Politico. It suggests the High Court 30 00:01:44,920 --> 00:01:48,440 Speaker 1: is preparing to overturn Roe v. Wade. Amy Morris begins 31 00:01:48,440 --> 00:01:50,960 Speaker 1: our team coverage from our Bloomberg ninety nine one newsroom 32 00:01:50,960 --> 00:01:54,640 Speaker 1: in Washington. Barricades went up as demonstrators came out to 33 00:01:54,720 --> 00:02:01,279 Speaker 1: protest the opinion, and then i'd eight page draft. Justice 34 00:02:01,320 --> 00:02:04,920 Speaker 1: Samuel Alito writes Roe was egregiously wrong from the start. 35 00:02:05,000 --> 00:02:09,520 Speaker 1: It also references Planned Parenthood v. Casey. Justice Alito writes, quote, 36 00:02:09,560 --> 00:02:13,160 Speaker 1: we hold that Roe and Casey must be overruled. This 37 00:02:13,200 --> 00:02:15,679 Speaker 1: woman says she joined the demonstrations when she heard the 38 00:02:15,720 --> 00:02:18,600 Speaker 1: High Court may plan to overturn Roe v. Wade. You know, 39 00:02:18,680 --> 00:02:20,359 Speaker 1: it really just feels like every all the work we 40 00:02:20,440 --> 00:02:22,720 Speaker 1: put into was just torn up and thrown in the garbage. 41 00:02:22,720 --> 00:02:25,399 Speaker 1: And it's honestly ridiculous to me because of how far 42 00:02:25,440 --> 00:02:27,800 Speaker 1: we've come forrit to just be set back in the time. 43 00:02:27,960 --> 00:02:31,320 Speaker 1: Senate Majority Leader Chuck Schumer and how Speaker Nancy Pelosi 44 00:02:31,360 --> 00:02:34,720 Speaker 1: issued a joint statement referencing justices like Brett Kavanaugh and 45 00:02:34,760 --> 00:02:38,200 Speaker 1: Neil Gorst who have said that Roe is settled law, writing, 46 00:02:38,240 --> 00:02:41,320 Speaker 1: the conservative justices quote, have lied to the U. S. 47 00:02:41,320 --> 00:02:45,000 Speaker 1: Senate and ripped up the constitution. In Washington, I'm Amy Morris, 48 00:02:45,040 --> 00:02:47,880 Speaker 1: Bloomberg Daybreak. All right, Amy, thank you. Al Abortion rights 49 00:02:48,000 --> 00:02:50,760 Speaker 1: is now an issue that could reshape the mid term elections, 50 00:02:50,800 --> 00:02:54,040 Speaker 1: and Bloomberg Law reporter Jun Gruns continues our team coverage 51 00:02:54,040 --> 00:02:57,280 Speaker 1: in New York. It would become a huge issue for 52 00:02:57,360 --> 00:03:00,520 Speaker 1: the mid term. People say that it would for perhaps 53 00:03:00,800 --> 00:03:05,400 Speaker 1: invigorate the Democratic base to get out there, because this 54 00:03:05,600 --> 00:03:09,000 Speaker 1: is really one of the social issues of our time, 55 00:03:09,280 --> 00:03:11,760 Speaker 1: and you know, women fought for so long to get 56 00:03:12,040 --> 00:03:15,040 Speaker 1: the right to an abortion, and now, in pretty short 57 00:03:15,120 --> 00:03:18,920 Speaker 1: measure in the history of our rights, it's being overturned. 58 00:03:19,160 --> 00:03:22,400 Speaker 1: Bloomberg's durn Grosso says the leaking of the Supreme Court 59 00:03:22,480 --> 00:03:25,919 Speaker 1: draft decision is perhaps more surprising than the apparent ruling. 60 00:03:26,120 --> 00:03:28,360 Speaker 1: And we'll have more details and analysis carrying on that 61 00:03:28,400 --> 00:03:31,120 Speaker 1: apparent Supreme Court decision coming up shortly. First, we want 62 00:03:31,120 --> 00:03:33,160 Speaker 1: to get you the latest on the war in Eastern Europe. 63 00:03:33,160 --> 00:03:35,720 Speaker 1: Boris Johnson weighs in on the conflict. Today, the British 64 00:03:35,760 --> 00:03:38,680 Speaker 1: Prime Minister will evoke his own country's wartime history in 65 00:03:38,720 --> 00:03:41,720 Speaker 1: a virtual address to Ukraine's parliament. Let's get the latest 66 00:03:41,720 --> 00:03:44,520 Speaker 1: from Bloomberg's You and Potts in London. Good morning, Good morning, 67 00:03:44,600 --> 00:03:47,960 Speaker 1: Nathan and Karen. Brother Johnson is addressing Ukraine's parliament today, 68 00:03:48,000 --> 00:03:50,560 Speaker 1: becoming the first world leader to do so. He's expected 69 00:03:50,600 --> 00:03:53,720 Speaker 1: to say that the bravery demonstrated by Ukrainian fighters means 70 00:03:53,760 --> 00:03:55,680 Speaker 1: the war will come to be known as the country's 71 00:03:55,800 --> 00:03:59,440 Speaker 1: finest our, echoing the words of British leader Winston Churchill. 72 00:03:59,800 --> 00:04:01,840 Speaker 1: In addition, the UK has announced the new package of 73 00:04:01,880 --> 00:04:04,440 Speaker 1: some three hundred and seventy five million dollars in military 74 00:04:04,440 --> 00:04:07,520 Speaker 1: eight for Ukraine. In London, Immu and pots Big Daybreak, 75 00:04:07,880 --> 00:04:09,920 Speaker 1: y do and thank you well in Ukraine. Today, more 76 00:04:10,000 --> 00:04:13,800 Speaker 1: civilian evacuations are expected from Maria, pol and other cities 77 00:04:13,840 --> 00:04:17,000 Speaker 1: in Russian hands as the conflict drags on. Former CIA 78 00:04:17,040 --> 00:04:21,000 Speaker 1: director David Petrea says it's slowly grinding Russia down. The 79 00:04:21,080 --> 00:04:25,400 Speaker 1: Russians are running out of troops and material. They cannot 80 00:04:25,520 --> 00:04:28,320 Speaker 1: replace what has been lost, at least not in the 81 00:04:28,360 --> 00:04:31,640 Speaker 1: short term. It's possible that Flatter and Putin on nine 82 00:04:31,680 --> 00:04:34,599 Speaker 1: May during the World War two Victory Day celebration in 83 00:04:34,640 --> 00:04:38,640 Speaker 1: Moscow could announce general mobilization or something like that. Retired 84 00:04:38,640 --> 00:04:42,440 Speaker 1: General David Petrayus is now chairman of the KKR Global Institute. 85 00:04:42,440 --> 00:04:45,080 Speaker 1: He spoke with David Weston on Bloomberg's Balance of Power. 86 00:04:45,440 --> 00:04:48,200 Speaker 1: Catch the show weekdays at noon Eastern on Bloomberg Radio 87 00:04:48,240 --> 00:04:50,960 Speaker 1: and television many time. Karen's City Group is still seeking 88 00:04:50,960 --> 00:04:54,320 Speaker 1: potential buyer sports operations in Russia. We spoke with CEO 89 00:04:54,440 --> 00:04:58,080 Speaker 1: Jane Fraser about the effort we're selling our consumer and 90 00:04:58,080 --> 00:05:01,240 Speaker 1: our commercial banking franchise on ground there and we're in 91 00:05:01,360 --> 00:05:05,360 Speaker 1: active dialogue around that um and then what we've also 92 00:05:05,440 --> 00:05:08,080 Speaker 1: been doing is focusing on helping the multinationals on the 93 00:05:08,120 --> 00:05:10,920 Speaker 1: ground because a lot of our client base of the 94 00:05:11,000 --> 00:05:14,280 Speaker 1: fortune and five hundred um their names that we all know, 95 00:05:14,880 --> 00:05:17,200 Speaker 1: and some of many of those are looking at exiting. 96 00:05:17,800 --> 00:05:20,080 Speaker 1: You can't exit if you don't have your bank on 97 00:05:20,120 --> 00:05:22,880 Speaker 1: the ground there. City Group CEO Jane Fraser made the 98 00:05:22,920 --> 00:05:24,960 Speaker 1: comments in an interview with Bloomberg at the Milk and 99 00:05:25,040 --> 00:05:29,000 Speaker 1: Institute Global Conference in California. Let's turn to the Fed now, Nathan, 100 00:05:29,040 --> 00:05:31,880 Speaker 1: we're central bankers begin their two day policy meeting today. 101 00:05:31,920 --> 00:05:34,760 Speaker 1: They're widely expected to raise rates by fifty basis points 102 00:05:34,760 --> 00:05:37,160 Speaker 1: at tomorrow's decision, and we get the very latest life 103 00:05:37,160 --> 00:05:40,400 Speaker 1: with Bloomberg's John Tucker, John and Karrently. It would be 104 00:05:40,440 --> 00:05:44,440 Speaker 1: the biggest US rate hikes since two thousand. Bloomberg Economics 105 00:05:44,440 --> 00:05:48,400 Speaker 1: says what happens after that is highly uncertain, and Citadel 106 00:05:48,480 --> 00:05:51,640 Speaker 1: founder Ken Griffin says FED cheer j pal will actually 107 00:05:51,680 --> 00:05:55,920 Speaker 1: be able to ease off monetary tightening if inflation drops quickly, 108 00:05:56,240 --> 00:05:59,440 Speaker 1: if the inflation is transitory, If we are heading towards 109 00:05:59,640 --> 00:06:01,520 Speaker 1: a four percent rate by the end of the year, 110 00:06:02,080 --> 00:06:06,200 Speaker 1: here's a lot more room to maneuver rates in Ken 111 00:06:06,240 --> 00:06:08,920 Speaker 1: Griffin spoke to Bloomberg at the Milk and Global Conference 112 00:06:08,920 --> 00:06:12,000 Speaker 1: in Beverly Hills. He added, if inflation doesn't break soon, 113 00:06:12,440 --> 00:06:15,039 Speaker 1: the federill then have to hit the brakes pretty hard. 114 00:06:15,160 --> 00:06:17,880 Speaker 1: At that will put us into recession. Live in New 115 00:06:17,960 --> 00:06:20,640 Speaker 1: York on John Tucker Bloomberg Daybreak, I think John, let's 116 00:06:20,640 --> 00:06:23,039 Speaker 1: turn to Amazon now and a labor victory in the 117 00:06:23,080 --> 00:06:26,279 Speaker 1: company's favor in New York. Bloomberg's Rinia Young joins us 118 00:06:26,320 --> 00:06:28,760 Speaker 1: live at that. Good Morning, Nina, Good morning, Nathan. Workers 119 00:06:28,760 --> 00:06:32,080 Speaker 1: at a Staten Island Amazon facility voted not to join 120 00:06:32,160 --> 00:06:35,240 Speaker 1: an upstart union. This comes just weeks after the group 121 00:06:35,279 --> 00:06:38,440 Speaker 1: won a resounding victory had a warehouse across the street. 122 00:06:38,760 --> 00:06:41,440 Speaker 1: The most recent election at a sorting center was not 123 00:06:41,600 --> 00:06:45,160 Speaker 1: even close. The Amazon labor union got just three and 124 00:06:45,240 --> 00:06:49,840 Speaker 1: eight yes votes to six eighteen knows. It's welcome news 125 00:06:49,880 --> 00:06:54,000 Speaker 1: for Amazon, which reported online sales slowed and acknowledged it 126 00:06:54,040 --> 00:06:57,520 Speaker 1: has too many workers. Live in New York. I'm Nita Young, 127 00:06:57,560 --> 00:07:00,480 Speaker 1: Bloomberg Daybreak. Al Right, Nita, thank you, and burg day 128 00:07:00,480 --> 00:07:02,320 Speaker 1: Break is brought to you by b n y Melon's 129 00:07:02,360 --> 00:07:05,400 Speaker 1: Pershing learned why the world's most sophisticated wealth management and 130 00:07:05,480 --> 00:07:09,360 Speaker 1: institutional firms rely on Pershing to help them improve profitability, 131 00:07:09,560 --> 00:07:14,800 Speaker 1: create efficiency, attract talent, and manage risk at pershing dot com. 132 00:07:14,920 --> 00:07:17,760 Speaker 1: Straight Ahead, your latest local headlines and a check of sports. 133 00:07:17,800 --> 00:07:24,880 Speaker 1: This is Bloomberg six o seven on Wall Street, fifty 134 00:07:24,880 --> 00:07:27,560 Speaker 1: two degrees in Central Park. Still dealing with an accident 135 00:07:27,560 --> 00:07:30,120 Speaker 1: on the northbound FDR Drive at seventy nights. Details coming 136 00:07:30,200 --> 00:07:32,400 Speaker 1: up in traffic. First Michael bar with more on what's 137 00:07:32,440 --> 00:07:34,480 Speaker 1: going on in New York and around the world. Good morning, Michael, 138 00:07:34,520 --> 00:07:37,840 Speaker 1: Good morning Nathan. The spread of the ovid O macron 139 00:07:38,080 --> 00:07:41,040 Speaker 1: variant has pushed up infection rates in New York City. 140 00:07:41,400 --> 00:07:44,360 Speaker 1: It has now moved into the medium risk alert level 141 00:07:44,600 --> 00:07:48,320 Speaker 1: and that means masking in public indoor areas is recommended. 142 00:07:48,680 --> 00:07:52,960 Speaker 1: New York City Health Commissioner Dr Ashwin Vassan on hospitalizations, 143 00:07:53,000 --> 00:07:58,440 Speaker 1: we see a slight increase on that occupancy were relatively stable. 144 00:07:58,960 --> 00:08:01,040 Speaker 1: Both of those would have to jump up to a 145 00:08:01,120 --> 00:08:04,040 Speaker 1: higher a significantly higher level for us to move into 146 00:08:04,080 --> 00:08:08,240 Speaker 1: a higher risk category. New York Mayor Eric Adams agreed 147 00:08:08,280 --> 00:08:10,600 Speaker 1: with the doctor of a son, We're gonna pivot this 148 00:08:10,800 --> 00:08:13,760 Speaker 1: ship and be honest when New Yorkers. As we move forward, 149 00:08:13,800 --> 00:08:17,120 Speaker 1: we're not there yet, um of a based on what 150 00:08:17,120 --> 00:08:19,760 Speaker 1: evident analysis with the medical team, we're gonna make the 151 00:08:19,840 --> 00:08:23,160 Speaker 1: decision to keep our sitting up and operated. Mayor Adams 152 00:08:23,200 --> 00:08:26,480 Speaker 1: recently recovered from COVID and said his symptoms were very 153 00:08:26,560 --> 00:08:31,120 Speaker 1: mild because he was vaccinated. Meanwhile, Mayor Adams channeled AOC 154 00:08:31,480 --> 00:08:35,080 Speaker 1: at this year's met Galla in a tuxedo jacket that 155 00:08:35,200 --> 00:08:39,080 Speaker 1: read end gun Violence. The jacket featured icons like the 156 00:08:39,080 --> 00:08:41,960 Speaker 1: Brooklyn Bridge, as well as a large handgun with a 157 00:08:42,000 --> 00:08:45,360 Speaker 1: red slash through it. The mayor was asked what message 158 00:08:45,559 --> 00:08:49,920 Speaker 1: he was sending attending the met Galla. The division between 159 00:08:50,320 --> 00:08:54,199 Speaker 1: affluent New Yorker is and those who are low wage employees. 160 00:08:54,400 --> 00:08:56,200 Speaker 1: It should not be a division. We're all part of 161 00:08:56,240 --> 00:08:59,199 Speaker 1: the same ecosystem. We need at fluent New Yorkers, we 162 00:08:59,240 --> 00:09:03,080 Speaker 1: need our low wage employees. Together, we can celebrate each other. 163 00:09:03,760 --> 00:09:06,400 Speaker 1: Mayor Adams also says the goal is to end gun 164 00:09:06,520 --> 00:09:10,360 Speaker 1: violence and save our children. Lawyers for Donald Trump say 165 00:09:10,440 --> 00:09:14,040 Speaker 1: it is unconscionable and indefensible for the acts President to 166 00:09:14,120 --> 00:09:16,680 Speaker 1: be held in contempt and find ten thousand dollars a 167 00:09:16,760 --> 00:09:19,559 Speaker 1: day for failing to turn over documents he doesn't possess. 168 00:09:20,040 --> 00:09:22,599 Speaker 1: The lawyers made the argument and a submission to a 169 00:09:22,640 --> 00:09:25,319 Speaker 1: New York State appeals court came a week after a 170 00:09:25,360 --> 00:09:28,920 Speaker 1: state Supreme Court judge said Trump and his lawyers failed 171 00:09:28,920 --> 00:09:31,760 Speaker 1: to show they conducted a proper search for records sought 172 00:09:32,040 --> 00:09:34,880 Speaker 1: by the state's attorney general in a civil probe of 173 00:09:34,960 --> 00:09:38,880 Speaker 1: his business dealings. Voters in Ohio head to the polls today, 174 00:09:38,880 --> 00:09:43,000 Speaker 1: and the state's hotly contested Senate primary Jade Vans, endorsed 175 00:09:43,000 --> 00:09:46,840 Speaker 1: by Trump, is surging, but he faces stiff competition, including 176 00:09:46,880 --> 00:09:51,679 Speaker 1: Trump allied Josh Mandel and Trump critic Matt Dolan. Global 177 00:09:51,679 --> 00:09:54,120 Speaker 1: News twenty four hours a day on air and on 178 00:09:54,200 --> 00:09:57,840 Speaker 1: Bloomberg Quicktake, powered by more than twenty seven under journalist 179 00:09:57,880 --> 00:10:01,320 Speaker 1: and analyist more than twenty countries. Michael bar This is Bloomberg. 180 00:10:01,720 --> 00:10:08,319 Speaker 1: Thank you, Michael. Almost six ten on Wall Street time 181 00:10:08,320 --> 00:10:10,960 Speaker 1: for the Bloomberg Sports Update with John Sanschallen. Thanks day. 182 00:10:11,120 --> 00:10:14,679 Speaker 1: Another night, another Yankee victory, this one in Toronto or Glabor. 183 00:10:14,760 --> 00:10:16,439 Speaker 1: Torres gave the Yanks to leave with a two on 184 00:10:16,600 --> 00:10:19,120 Speaker 1: Homer and then Torres broke it two to tie with 185 00:10:19,280 --> 00:10:21,520 Speaker 1: the run scoring hit of the ninth inning. Aaron Boone's 186 00:10:21,559 --> 00:10:23,840 Speaker 1: team won three to two, and I won ten games 187 00:10:23,840 --> 00:10:25,959 Speaker 1: in a row. Big night for Glabor the homer and 188 00:10:25,960 --> 00:10:29,200 Speaker 1: and a a clutch hit there with two outs. Um 189 00:10:29,240 --> 00:10:33,079 Speaker 1: you know, big steel off the bench from Locastro pitching 190 00:10:33,120 --> 00:10:39,360 Speaker 1: did their thing to limit them enough. Um defense. Once again, 191 00:10:39,440 --> 00:10:42,079 Speaker 1: they're hard to find anything not going well right now 192 00:10:42,120 --> 00:10:44,160 Speaker 1: for the team with the best record the Major seventh 193 00:10:44,160 --> 00:10:47,120 Speaker 1: seen and six Yankees best start since two thousand three. 194 00:10:47,200 --> 00:10:48,800 Speaker 1: Met said at too not the lead at City Field, 195 00:10:48,800 --> 00:10:50,880 Speaker 1: Mark Canna hit a home run, but Atlanta came back 196 00:10:50,880 --> 00:10:53,080 Speaker 1: to win five to two. The X met Travis Darnel 197 00:10:53,160 --> 00:10:54,600 Speaker 1: with a big two un double light in the game. 198 00:10:54,960 --> 00:10:57,040 Speaker 1: The Mets, like all teams that had Depair, their roster 199 00:10:57,120 --> 00:11:00,320 Speaker 1: down at twenty six, so they released Robinson Canoe despite 200 00:11:00,360 --> 00:11:02,760 Speaker 1: still owing him about forty million dollars. Cano is now 201 00:11:02,800 --> 00:11:05,080 Speaker 1: thirty nine years old, nowhere near the player he was 202 00:11:05,400 --> 00:11:07,280 Speaker 1: back in his days with a Yankees served a year 203 00:11:07,320 --> 00:11:11,000 Speaker 1: long pe D suspension. One. There was such an impressive 204 00:11:11,040 --> 00:11:14,160 Speaker 1: regular season for the Rangers, fifty two wins, great productions 205 00:11:14,200 --> 00:11:16,240 Speaker 1: and the likes of Chris Pryder are Timmy Panair and 206 00:11:16,280 --> 00:11:18,880 Speaker 1: the goalie Egors histeric, and we'll see if it translates 207 00:11:18,920 --> 00:11:21,920 Speaker 1: to the postseason Rangers in Pittsburgh tonight Game one at 208 00:11:21,920 --> 00:11:24,600 Speaker 1: the Garden. The Rangers played the Penguins three times in 209 00:11:24,640 --> 00:11:26,840 Speaker 1: a fairly recent two weeks stretch, and the Rangers won 210 00:11:26,880 --> 00:11:30,400 Speaker 1: all three game one wins. Last night for Toronto, Carolina St. 211 00:11:30,440 --> 00:11:33,000 Speaker 1: Louis and Los Angeles, and in the NBA Miami beat 212 00:11:33,000 --> 00:11:35,679 Speaker 1: Philadelphia Sixers had to play without the injured Joel Mbid. 213 00:11:36,000 --> 00:11:39,040 Speaker 1: Phoenix took Game one from Dallas despite forty five point 214 00:11:39,080 --> 00:11:43,960 Speaker 1: by the Madais Luca Dunson's John Stashloomberg Sports Nathan all Right, John, Thanks, 215 00:11:44,000 --> 00:11:47,679 Speaker 1: Futures little changed ahead of the FEDS to day May meeting. 216 00:11:47,720 --> 00:11:50,720 Speaker 1: We have SMP futures up almost to point down, futures 217 00:11:50,760 --> 00:11:53,839 Speaker 1: down four point, Stan Stack futures up one ten, your 218 00:11:53,840 --> 00:11:57,040 Speaker 1: treasury up one thirty second, the yield two point nine 219 00:11:57,320 --> 00:12:08,560 Speaker 1: seven per cent. You're listing to Bloomberg Daybreak. Bloomberg Daybreak 220 00:12:08,559 --> 00:12:10,880 Speaker 1: brought to you by the Jewish Communal Fund j c F. 221 00:12:10,960 --> 00:12:13,160 Speaker 1: S Downer Advised Fund is the smart choice to manage 222 00:12:13,200 --> 00:12:16,680 Speaker 1: your philanthropy, especially in times of crisis. Make your giving impactful. 223 00:12:17,040 --> 00:12:23,320 Speaker 1: Visit j c f n Y dot org markets headlines 224 00:12:23,400 --> 00:12:26,400 Speaker 1: and breaking news twenty four hours a day. F Bloomberg 225 00:12:26,440 --> 00:12:29,800 Speaker 1: dot com, the Bloomberg Business at and at Bloomberg quicktape 226 00:12:30,480 --> 00:12:39,719 Speaker 1: is a Bloomberg Business flash. And I'm Karen Moscow and 227 00:12:39,840 --> 00:12:43,560 Speaker 1: futures this morning are little changed. Investors racing for the 228 00:12:43,600 --> 00:12:46,560 Speaker 1: biggest US rate high since two thousand and a wave 229 00:12:46,640 --> 00:12:50,079 Speaker 1: of policy tightening by other central banks. Again, futures that 230 00:12:50,120 --> 00:12:52,199 Speaker 1: will change the acts in Germany's up four tents of 231 00:12:52,280 --> 00:12:55,160 Speaker 1: upper cent ten your treasury, that'll change yield two point 232 00:12:55,200 --> 00:12:57,360 Speaker 1: on eight percent, yield on the two year two point 233 00:12:57,400 --> 00:13:00,199 Speaker 1: seven seven percent. And I'm ex Scrude oil is down 234 00:13:00,240 --> 00:13:02,040 Speaker 1: seven tenths per cent, or seventy six cents at a 235 00:13:02,080 --> 00:13:05,160 Speaker 1: hundred four dollars forty one cents a barrel. And Bitcoin 236 00:13:05,360 --> 00:13:08,280 Speaker 1: this morning is up four ten percent at thirty eight thousand, 237 00:13:08,360 --> 00:13:11,200 Speaker 1: four hundred sixty dollars. That's a Bloomberg business flash. Now 238 00:13:11,200 --> 00:13:13,520 Speaker 1: here's Michael Barr with more on what's going on around 239 00:13:13,559 --> 00:13:16,120 Speaker 1: the world. Michael, Karen, thank you very much. A draft 240 00:13:16,160 --> 00:13:19,079 Speaker 1: opinions suggests the U s Supreme Court could be poised 241 00:13:19,160 --> 00:13:23,079 Speaker 1: overturn the landmark seventy three Roe v. Wade case that 242 00:13:23,200 --> 00:13:27,040 Speaker 1: legalized abortion nationwide. That's according to a political report, a 243 00:13:27,120 --> 00:13:30,160 Speaker 1: mass of fire is burning at that steel plan in Maryupol. 244 00:13:30,240 --> 00:13:34,720 Speaker 1: Potentially hundreds of people remain trapped there as the Russians 245 00:13:34,800 --> 00:13:38,680 Speaker 1: bombard the area. Baseball, the Yankees one, the Mats lost, 246 00:13:38,720 --> 00:13:41,520 Speaker 1: along with the Orioles and A's that the NHL Playoffs, 247 00:13:41,679 --> 00:13:43,760 Speaker 1: the Urricanes skated past the Bruins and game one of 248 00:13:43,800 --> 00:13:46,679 Speaker 1: their Series five one. Global News twenty four hours a 249 00:13:46,760 --> 00:13:49,400 Speaker 1: day on air and on Bloomberg Quickday, powered by more 250 00:13:49,679 --> 00:13:52,080 Speaker 1: than twenty seven hundred journalists and analysts more than a 251 00:13:52,120 --> 00:13:55,880 Speaker 1: hundred twenty countries. Michael Barn this is Bloomberg, Nathan. Thanks Michael. 252 00:13:55,880 --> 00:13:57,920 Speaker 1: We're coming up to six nineteen on Wall Street Life 253 00:13:57,920 --> 00:14:01,120 Speaker 1: from the Bloomberg Interacted Broker Studios. This is Bloomberg Daybreak 254 00:14:01,160 --> 00:14:03,360 Speaker 1: and bloom and Bloomberg's June Grosso is with us, host 255 00:14:03,440 --> 00:14:06,120 Speaker 1: of Bloomberg Law here on Bloomberg Radio, as we continue 256 00:14:06,120 --> 00:14:09,160 Speaker 1: our coverage of this leaked draft opinion on the Supreme 257 00:14:09,200 --> 00:14:12,120 Speaker 1: Court obtained by Politico that appears to show the High 258 00:14:12,120 --> 00:14:16,360 Speaker 1: Court is poised to overturn Roe v. Wade. June, Good morning. 259 00:14:16,760 --> 00:14:19,680 Speaker 1: This is not something we have seen from a Supreme 260 00:14:19,680 --> 00:14:22,720 Speaker 1: Court in I can't think of a time where you've 261 00:14:22,720 --> 00:14:25,480 Speaker 1: seen a leak like this this soon before we were 262 00:14:25,480 --> 00:14:30,760 Speaker 1: expecting the decision. It is so shocking that I've been 263 00:14:30,800 --> 00:14:34,240 Speaker 1: getting texts all night as soon as it happened, because 264 00:14:34,280 --> 00:14:38,200 Speaker 1: people are aware that the Supreme Court is an institution 265 00:14:38,800 --> 00:14:43,440 Speaker 1: that is very guarded about about its inner workings, that 266 00:14:43,800 --> 00:14:47,600 Speaker 1: we really rarely find out what happened until after a 267 00:14:47,720 --> 00:14:51,480 Speaker 1: justice dies and their papers are published. So to have 268 00:14:51,640 --> 00:14:55,800 Speaker 1: a leak like this is just extraordinary. And you have 269 00:14:55,960 --> 00:14:59,920 Speaker 1: to think that the justices, and particularly Chief Justice Roberts, 270 00:15:00,400 --> 00:15:05,080 Speaker 1: are outraged that this has happened and wondering just how. 271 00:15:05,120 --> 00:15:08,080 Speaker 1: And I, of course I have no idea except I 272 00:15:08,120 --> 00:15:12,120 Speaker 1: would say that the political nature of this decision, you know, 273 00:15:12,160 --> 00:15:16,200 Speaker 1: the overturning of Road Wade, may be one reason why 274 00:15:16,200 --> 00:15:20,080 Speaker 1: it was leaked from someone inside the court. What what 275 00:15:20,200 --> 00:15:23,960 Speaker 1: does this due June to the integrity of the Supreme Court, 276 00:15:24,040 --> 00:15:27,280 Speaker 1: not just for a decision like this to come to 277 00:15:27,440 --> 00:15:33,000 Speaker 1: light before it's official, but for the overall politicization of 278 00:15:33,040 --> 00:15:34,760 Speaker 1: this court. I think it's safe to say that the 279 00:15:34,800 --> 00:15:38,040 Speaker 1: Supreme Court has become much more politicized in recent years. 280 00:15:39,760 --> 00:15:42,960 Speaker 1: I think it has, and particularly of late with the 281 00:15:43,240 --> 00:15:46,880 Speaker 1: six very conservative justices on the Court. You know, I 282 00:15:46,920 --> 00:15:48,960 Speaker 1: think you have to go back to what Justice Cilia 283 00:15:49,080 --> 00:15:53,640 Speaker 1: so To Mayor said during the oral arguments in this case, 284 00:15:53,920 --> 00:15:57,080 Speaker 1: and she said that if this happened, the Court will 285 00:15:57,120 --> 00:16:00,480 Speaker 1: be seen as political. She said, how will this stitution 286 00:16:00,640 --> 00:16:04,880 Speaker 1: survives the stench that this creates in the public perception 287 00:16:05,280 --> 00:16:08,600 Speaker 1: that the Constitution and its readings are just political acts. 288 00:16:08,600 --> 00:16:11,640 Speaker 1: She said, if people actually believe this is all political, 289 00:16:12,000 --> 00:16:14,840 Speaker 1: how will we survive? And we've seen more and more 290 00:16:14,920 --> 00:16:19,360 Speaker 1: politics in some of the Supreme Court's decisions. This really, 291 00:16:19,440 --> 00:16:22,000 Speaker 1: I think, would you know, would take it over the top, 292 00:16:22,120 --> 00:16:24,440 Speaker 1: And especially if you look at the draft. I mean, 293 00:16:24,480 --> 00:16:29,120 Speaker 1: it's so caustically written, um, and you know, the it's 294 00:16:29,160 --> 00:16:32,280 Speaker 1: just I have to remind you that when we listen 295 00:16:32,360 --> 00:16:35,720 Speaker 1: to the justices in a confirmation hearings, you hear over 296 00:16:35,760 --> 00:16:39,240 Speaker 1: and over again Roe v. Wade accepted precedent from every 297 00:16:39,400 --> 00:16:42,640 Speaker 1: one of them that has that is obviously that's signed 298 00:16:42,640 --> 00:16:46,800 Speaker 1: on to this draft allegedly, and even Justice Alito, And 299 00:16:46,880 --> 00:16:49,760 Speaker 1: now we're hearing them say that from the beginning, this 300 00:16:49,920 --> 00:16:53,960 Speaker 1: was bad law. It's not. It's not established precedent, or 301 00:16:53,960 --> 00:16:56,880 Speaker 1: but its established. President, we're going to overturn it. So 302 00:16:57,480 --> 00:17:01,840 Speaker 1: I can't imagine the kind of implication just will have. Well, 303 00:17:02,080 --> 00:17:04,600 Speaker 1: I want to ask what kind of implications could this 304 00:17:04,760 --> 00:17:11,720 Speaker 1: have for future Supreme Court confirmations when presidents nominate judges 305 00:17:11,840 --> 00:17:15,600 Speaker 1: to become justices and they go before the Senators to 306 00:17:15,720 --> 00:17:20,600 Speaker 1: face questions about case law and Supreme Court precedent. How 307 00:17:20,600 --> 00:17:25,040 Speaker 1: does this affect that? Well, I have to say I 308 00:17:25,080 --> 00:17:28,520 Speaker 1: haven't put much stock in Supreme Court confirmation hearings in 309 00:17:28,720 --> 00:17:32,040 Speaker 1: sometime because the justices will go there and talk about 310 00:17:32,040 --> 00:17:35,359 Speaker 1: how precedent is so important. And then lately we've seen 311 00:17:35,440 --> 00:17:38,399 Speaker 1: them undoing a lot of cases where they're president. I 312 00:17:38,400 --> 00:17:41,520 Speaker 1: mean a few years ago we had them undo a 313 00:17:41,640 --> 00:17:45,880 Speaker 1: thirty year old precedent about union rights. It's it's happening 314 00:17:45,880 --> 00:17:49,080 Speaker 1: more and more, and I think that a lot of 315 00:17:49,119 --> 00:17:54,320 Speaker 1: the justices, particularly Lena Kagan, have expressed, you know, distress 316 00:17:54,520 --> 00:18:00,080 Speaker 1: about this happening, about precedent not really being president anymore. Know, 317 00:18:00,240 --> 00:18:03,600 Speaker 1: when Justice Amy Cody Barrett had her confirmation here and 318 00:18:03,680 --> 00:18:06,720 Speaker 1: since she was asked a lot of questions about Roe v. Waite. 319 00:18:07,200 --> 00:18:10,320 Speaker 1: She had something that she calls super precedent, which I've 320 00:18:10,359 --> 00:18:13,639 Speaker 1: never heard of. Uh, certainly didn't teach it in law school. 321 00:18:13,800 --> 00:18:17,679 Speaker 1: Super president were cases that were really well established, but 322 00:18:18,400 --> 00:18:21,000 Speaker 1: other cases like Roe v. Wade, she said, we're not 323 00:18:21,160 --> 00:18:25,800 Speaker 1: super precedent because it wasn't clearly established that everyone was 324 00:18:25,920 --> 00:18:28,840 Speaker 1: on board with them, which sounded very political to me. 325 00:18:29,680 --> 00:18:33,720 Speaker 1: And so you know, now we have this where many 326 00:18:33,760 --> 00:18:38,800 Speaker 1: of the justices who said that Roe was precedent, and 327 00:18:38,920 --> 00:18:41,080 Speaker 1: of course you think about Justice Kavanaugh, he said it 328 00:18:41,119 --> 00:18:44,280 Speaker 1: over and over again. Roe was president, Roe was established 329 00:18:44,359 --> 00:18:48,280 Speaker 1: law are now saying that no was wrong from the beginning, 330 00:18:48,520 --> 00:18:51,600 Speaker 1: and we're going to overturn it. We're not going to 331 00:18:51,880 --> 00:18:54,600 Speaker 1: We're not going to respect precedent. So the question becomes, 332 00:18:55,000 --> 00:18:58,840 Speaker 1: which precedent are they going to respect once they're sworn in? 333 00:18:59,040 --> 00:19:02,359 Speaker 1: Which aren't they? I think it really leaves us with 334 00:19:02,600 --> 00:19:06,480 Speaker 1: questions about the court. Well, we should note that this 335 00:19:06,560 --> 00:19:10,720 Speaker 1: is a draft opinion apparently written by Justice Alito. We 336 00:19:10,800 --> 00:19:14,280 Speaker 1: don't know at this point who, if any justices will 337 00:19:14,720 --> 00:19:18,280 Speaker 1: sign on in support of this decision, which begs the question. 338 00:19:18,480 --> 00:19:22,280 Speaker 1: June with a leak like this coming out what nearly 339 00:19:22,480 --> 00:19:26,639 Speaker 1: two months or so before this decision was expected to 340 00:19:26,680 --> 00:19:31,560 Speaker 1: become official. Does this cause justices to think about where 341 00:19:31,600 --> 00:19:35,440 Speaker 1: they stand on this issue when we start to see 342 00:19:35,560 --> 00:19:42,560 Speaker 1: the reaction among voters in this country to the draft Well, 343 00:19:42,600 --> 00:19:48,280 Speaker 1: I think that the justices say or pretend that they're 344 00:19:48,320 --> 00:19:51,720 Speaker 1: not influenced by what the public says. That they're on 345 00:19:51,800 --> 00:19:57,199 Speaker 1: the court to to to uh analyze the law, to 346 00:19:57,359 --> 00:20:01,560 Speaker 1: figure out what the constitution says and to bye by it. However, 347 00:20:01,600 --> 00:20:05,080 Speaker 1: I think that some of them are affected by what 348 00:20:05,280 --> 00:20:07,760 Speaker 1: the public says. I just want to point out one thing, Nathan. 349 00:20:07,800 --> 00:20:12,560 Speaker 1: This is a draft opinion. It's being circulated among the justices. 350 00:20:12,920 --> 00:20:16,400 Speaker 1: This is not the final opinion. So once it gets 351 00:20:16,440 --> 00:20:20,840 Speaker 1: circulated among the justices, the justices make comments. Currency and 352 00:20:20,880 --> 00:20:23,520 Speaker 1: trade stocks in the US, Europe and Asia. Start your 353 00:20:23,600 --> 00:20:28,280 Speaker 1: free trial at ibkr dot com slash Global Trader up. First, 354 00:20:28,600 --> 00:20:35,240 Speaker 1: we go to Washington protesters outside the Supreme Court overnight 355 00:20:35,280 --> 00:20:39,159 Speaker 1: reacting to that elite draft opinion published by Politico that 356 00:20:39,200 --> 00:20:41,920 Speaker 1: we've been reporting on all morning and suggests the High 357 00:20:41,960 --> 00:20:45,200 Speaker 1: Court is preparing to overturn Roe v. Wade and Bloomberg 358 00:20:45,280 --> 00:20:48,880 Speaker 1: Law reporter During Grosso is saying the leak itself is unprecedented. 359 00:20:49,160 --> 00:20:52,280 Speaker 1: Anyone who listened to the oral arguments knew that Roe v. 360 00:20:52,480 --> 00:20:56,200 Speaker 1: Wade was either going to be severely limited or overturned. 361 00:20:56,359 --> 00:21:00,400 Speaker 1: So it's not so shocking what Justice Alito is say here. 362 00:21:00,440 --> 00:21:04,720 Speaker 1: What is shocking is that this was this draft was reliefed. 363 00:21:04,800 --> 00:21:07,240 Speaker 1: This has never happened in the history of the Court, 364 00:21:07,600 --> 00:21:11,359 Speaker 1: despite so many, you know, different opinions that were really 365 00:21:11,480 --> 00:21:15,199 Speaker 1: politically can you with and Bloomberry Staron Grasso says this 366 00:21:15,280 --> 00:21:18,400 Speaker 1: could become a major issue for the mid term elections. 367 00:21:18,600 --> 00:21:22,840 Speaker 1: And turning overseas now, Karen French. President Emmanuel mccron's office 368 00:21:22,880 --> 00:21:27,240 Speaker 1: says McCrone will speak today with Russian President Vladimir Putin 369 00:21:27,320 --> 00:21:30,480 Speaker 1: by phone. It will be their first conversation since late March, 370 00:21:30,800 --> 00:21:34,960 Speaker 1: while British Prime Minister Boris Johnson plans to address Ukraine's parliament. 371 00:21:35,400 --> 00:21:39,040 Speaker 1: That's as the UK announces more military aid to Ukraine, 372 00:21:39,359 --> 00:21:41,399 Speaker 1: and on Wall Street City Group says it is an 373 00:21:41,440 --> 00:21:45,600 Speaker 1: active dialogue to sell its banking operations in Russia. Right, Nathan, 374 00:21:45,680 --> 00:21:48,000 Speaker 1: Let's turn to the Fed now, which begins it's today 375 00:21:48,119 --> 00:21:51,480 Speaker 1: policy meeting. Today, the Central Bank is widely expected to 376 00:21:51,600 --> 00:21:55,200 Speaker 1: hike interest rates at tomorrow's decision, and Bloomberry Shahn Tucker 377 00:21:55,400 --> 00:21:58,440 Speaker 1: joins us live with the latest. Good morning, John Karen. 378 00:21:58,520 --> 00:22:01,520 Speaker 1: The Central Banks at the hike half a percentage point. 379 00:22:01,840 --> 00:22:05,200 Speaker 1: What happens after that is highly uncertain. Bloomberg Economics says, 380 00:22:05,560 --> 00:22:09,760 Speaker 1: recently we have seen glimmers of disinflationary forces working through 381 00:22:09,760 --> 00:22:12,439 Speaker 1: the economy, and if they accelerate, we could see the 382 00:22:12,440 --> 00:22:16,240 Speaker 1: Fed making only a few more measured hikes. Tomorrow's guidance 383 00:22:16,280 --> 00:22:18,840 Speaker 1: from chair J. Powe will be key for global rates. 384 00:22:19,200 --> 00:22:21,960 Speaker 1: Live in New York, I'm John Tucker, Bloomberg Daybreak, John, 385 00:22:22,040 --> 00:22:25,600 Speaker 1: Thanks in New York this morning. A labor victory for Amazon. 386 00:22:25,720 --> 00:22:27,919 Speaker 1: Let's get the latest on that. Live from Bloomberg's You 387 00:22:27,960 --> 00:22:30,280 Speaker 1: Need a Young Good morning, Good morning, Nathan. Workers at 388 00:22:30,280 --> 00:22:33,359 Speaker 1: a Staten Island Amazon facility voted not to join an 389 00:22:33,440 --> 00:22:36,680 Speaker 1: upstart union, just weeks after the group won a resounding 390 00:22:36,800 --> 00:22:39,920 Speaker 1: victory had a warehouse across the street. In its most 391 00:22:40,000 --> 00:22:44,440 Speaker 1: recent election, the Amazon labor union got just three yes 392 00:22:44,520 --> 00:22:48,080 Speaker 1: votes to six hundred and eighteen knows. It's welcome news 393 00:22:48,160 --> 00:22:52,360 Speaker 1: for Amazon, which just reported slowed online sales and acknowledged 394 00:22:52,400 --> 00:22:55,440 Speaker 1: it has too many workers. Live in New York. I'm 395 00:22:55,480 --> 00:22:58,159 Speaker 1: Ranita Young Bloomberg daybreak. All right, rand to thank you, 396 00:22:58,240 --> 00:23:02,560 Speaker 1: and futures this morning are now moving lower. SNP futures 397 00:23:02,600 --> 00:23:06,880 Speaker 1: down fourteen points now futures down one ten and NASDAG 398 00:23:06,960 --> 00:23:10,440 Speaker 1: futures down fifty ten year treasury up one thirty second 399 00:23:10,520 --> 00:23:13,080 Speaker 1: yeld two point nine seven percent, and they yield on 400 00:23:13,119 --> 00:23:16,440 Speaker 1: the two year two point seven six percent. Ninemex screwed 401 00:23:16,480 --> 00:23:19,000 Speaker 1: oil is down nine ten percent, or ninety three cents 402 00:23:19,000 --> 00:23:21,320 Speaker 1: at a hundred four dollars twenty five cents of barrel. 403 00:23:21,560 --> 00:23:23,680 Speaker 1: COMEX school down the third of upper cent or six 404 00:23:23,680 --> 00:23:27,119 Speaker 1: dollars twenty cents at eighteen fifty seven forty announce. And 405 00:23:27,119 --> 00:23:29,560 Speaker 1: that's the five things you need to notice start your day. 406 00:23:29,600 --> 00:23:34,040 Speaker 1: Brought to you by Interactive Brokers, and this is Bloomberg. 407 00:23:38,280 --> 00:23:40,399 Speaker 1: Thank you. Karen. Six thirty three on Wall Street, fifty 408 00:23:40,400 --> 00:23:42,439 Speaker 1: two degrees in Central Park. I've been dealing with an 409 00:23:42,440 --> 00:23:45,000 Speaker 1: accent this morning, northbound FDR Drive at seventy nine. We'll 410 00:23:45,000 --> 00:23:47,159 Speaker 1: get the details the latest for you in traffic shortly. 411 00:23:47,160 --> 00:23:49,119 Speaker 1: First Michael Barr with more on what's going on in 412 00:23:49,119 --> 00:23:52,359 Speaker 1: New York and around the world. Good morning, Michael, Good morning, Nathan. 413 00:23:52,359 --> 00:23:55,120 Speaker 1: New York City has now moved into the medium risk 414 00:23:55,160 --> 00:23:58,800 Speaker 1: alert level for COVID nineteen. That means masking in public 415 00:23:58,800 --> 00:24:03,359 Speaker 1: indoor areas is commended, though not required. New York Governor 416 00:24:03,400 --> 00:24:06,000 Speaker 1: Kathy Huckles had despite the city moving to medium, there 417 00:24:06,000 --> 00:24:08,960 Speaker 1: are no plans for shutdowns. I'm not here to stand 418 00:24:08,960 --> 00:24:10,760 Speaker 1: here and say we're looking at shutdowns. I have said 419 00:24:10,760 --> 00:24:13,560 Speaker 1: I'm going to protect the health of New Yorkers partly, 420 00:24:13,600 --> 00:24:17,320 Speaker 1: get vaccinated, could boosting, get lots of test supplies. New 421 00:24:17,400 --> 00:24:20,920 Speaker 1: York Mayor Eric Adams agrees with Governor Hunkle. Let's stay 422 00:24:21,080 --> 00:24:26,760 Speaker 1: necessary precaution every step when you're mask of, get vaccinated, 423 00:24:26,920 --> 00:24:30,520 Speaker 1: get boosted, and we can weather it is storm later. 424 00:24:30,840 --> 00:24:34,280 Speaker 1: Mayor Eric Adams attended last night's met galen the tuxedo 425 00:24:34,400 --> 00:24:39,120 Speaker 1: jacket that read end gun Violence. The jacket featured architectural 426 00:24:39,280 --> 00:24:42,760 Speaker 1: icons like to Brooklyn Bridge and Chrysler Building along with 427 00:24:42,840 --> 00:24:45,359 Speaker 1: the M t A logo, as well as a large 428 00:24:45,359 --> 00:24:47,840 Speaker 1: handgun with a red slash through it. And I want 429 00:24:47,880 --> 00:24:50,960 Speaker 1: to say as we celebrate tonight, to stay focused that 430 00:24:51,080 --> 00:24:53,120 Speaker 1: we have a lot of rook to do tomorrow. Today 431 00:24:53,480 --> 00:24:57,120 Speaker 1: to celebrate, but tomorrow we get together and fill out 432 00:24:57,520 --> 00:25:00,560 Speaker 1: returning our city to the prosperity. That this that's my 433 00:25:00,640 --> 00:25:03,560 Speaker 1: role as a city mayor. Adam says, our goal is 434 00:25:03,600 --> 00:25:07,320 Speaker 1: to end gun violence and save our children. Ohio Republicans 435 00:25:07,359 --> 00:25:09,560 Speaker 1: will vote today and one of the most closely watched 436 00:25:09,640 --> 00:25:13,480 Speaker 1: Senate primaries in the nation. Author and venture capitalist Jade 437 00:25:13,600 --> 00:25:16,240 Speaker 1: Vance is seen as the GOP front runner in the 438 00:25:16,359 --> 00:25:20,760 Speaker 1: race to replace retiring Senator Rob Portman after receiving former 439 00:25:20,800 --> 00:25:24,040 Speaker 1: President Donald Trump's endorsement. The winner is likely to face 440 00:25:24,080 --> 00:25:28,040 Speaker 1: ten term Democratic Congressman Tim Ryan in November. And Alabama 441 00:25:28,080 --> 00:25:31,600 Speaker 1: corrections officer fifty six year old Vicky White is wanted 442 00:25:31,600 --> 00:25:35,159 Speaker 1: for allegedly helping a convicted murderer, Casey White escape. The 443 00:25:35,200 --> 00:25:38,280 Speaker 1: two were not related. Her mother says Vicky White called 444 00:25:38,280 --> 00:25:40,840 Speaker 1: her that morning to check on her dog. I doubt 445 00:25:40,880 --> 00:25:43,679 Speaker 1: she did, making head a spading ticket, but I mean 446 00:25:43,760 --> 00:25:47,399 Speaker 1: she's always been what i'd say, a good person, and 447 00:25:48,200 --> 00:25:51,200 Speaker 1: like I said, this is all a shock. Pat Davis 448 00:25:51,280 --> 00:25:54,680 Speaker 1: later learned her daughter had disappeared. Vicky White was a 449 00:25:54,760 --> 00:25:58,919 Speaker 1: seventeen year Corrections Department of veteran. The nation's Transportation Secretary 450 00:25:59,000 --> 00:26:02,760 Speaker 1: will answer question from Congress today about supply chain disruptions 451 00:26:02,800 --> 00:26:06,600 Speaker 1: still slowing delivery of products in some cities. Secretary Pete 452 00:26:06,600 --> 00:26:10,600 Speaker 1: Boutigi will testify before the Senate Commerce Committee. Global News 453 00:26:10,600 --> 00:26:13,080 Speaker 1: twenty four hours a day on air and on Bloomberg 454 00:26:13,160 --> 00:26:16,560 Speaker 1: Quick Take, powered by more than journalists and analysts more 455 00:26:16,560 --> 00:26:19,600 Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg. Nathan. 456 00:26:19,680 --> 00:26:26,240 Speaker 1: All right, Michael, thank you. Come up to six thirty 457 00:26:26,280 --> 00:26:28,399 Speaker 1: six on Wall Street. Time for the Bloomberg Sports Update. 458 00:26:28,400 --> 00:26:30,040 Speaker 1: Here again is John Stann shown. All right. It in 459 00:26:30,160 --> 00:26:32,240 Speaker 1: ten straight wins with the Yankees, and while the first 460 00:26:32,320 --> 00:26:35,760 Speaker 1: nine were against somewhat subpart teams, Toronto again this series 461 00:26:35,840 --> 00:26:37,440 Speaker 1: right on the Yanks heels this game and a half 462 00:26:37,440 --> 00:26:39,520 Speaker 1: behind the Yanks able to beat the Blue Jays three 463 00:26:39,520 --> 00:26:42,439 Speaker 1: to two. Labor Torres the hero to run homer and 464 00:26:42,440 --> 00:26:44,960 Speaker 1: then a tie breaking RBI single with two outs of 465 00:26:44,960 --> 00:26:47,520 Speaker 1: the ninth that named the bullpen again outstanding and the 466 00:26:47,600 --> 00:26:50,240 Speaker 1: Yanks seventeen and six record is the best of the majors. 467 00:26:50,240 --> 00:26:52,960 Speaker 1: It's their best start since two thousand three. Mets lost 468 00:26:53,000 --> 00:26:55,040 Speaker 1: in City field of Atlanta five to two. They made 469 00:26:55,080 --> 00:26:58,320 Speaker 1: the decision to release Robinson Canoe despite having two years 470 00:26:58,359 --> 00:27:00,800 Speaker 1: and about forty million dollars left on that ten year 471 00:27:00,880 --> 00:27:04,120 Speaker 1: contract that cannot signed with Seattle when he left the Yankees. 472 00:27:04,160 --> 00:27:07,480 Speaker 1: Brody van Wagen negotiated that contract as Keno's agent, and 473 00:27:07,520 --> 00:27:09,680 Speaker 1: then he brought him to New York when he was 474 00:27:09,720 --> 00:27:12,280 Speaker 1: the Mets general manager. Now he's back as Cano's agent, 475 00:27:12,720 --> 00:27:14,560 Speaker 1: and we'll try to get Canoe another job. A team 476 00:27:14,560 --> 00:27:16,880 Speaker 1: that claims him only has to pay him the minimum salary. 477 00:27:16,960 --> 00:27:19,600 Speaker 1: Opening night in the Stanley Cup Playoffs, Tampa Bay has 478 00:27:19,640 --> 00:27:21,800 Speaker 1: won the last two Cups, but lost Game one in 479 00:27:21,800 --> 00:27:25,320 Speaker 1: Toronto five nothing. Carolina beat bostonim St. Louis shut out 480 00:27:25,320 --> 00:27:27,880 Speaker 1: Minnesota l A with a late goal one In Edmonton 481 00:27:28,000 --> 00:27:30,920 Speaker 1: Rangers and Penguins Game one tonight at the Garden, Rangers 482 00:27:30,960 --> 00:27:34,360 Speaker 1: coach Gerard Gallant asked about Pittsburgh star players. We don't 483 00:27:34,400 --> 00:27:36,480 Speaker 1: know what kind of player he is, but we're gonna 484 00:27:36,480 --> 00:27:38,320 Speaker 1: worry about Cindy that Sydney, then we're gonna have a 485 00:27:38,320 --> 00:27:39,880 Speaker 1: tough time. I mean, Sydney is gonna be a great 486 00:27:39,880 --> 00:27:41,920 Speaker 1: player's gonna do his thing. But they got a good 487 00:27:41,920 --> 00:27:43,760 Speaker 1: team over there, so there's a lot more than Sydney 488 00:27:43,800 --> 00:27:46,520 Speaker 1: Closby and we don't look at one one one player 489 00:27:46,520 --> 00:27:48,840 Speaker 1: and identify that. Maybe we'll look at the line and 490 00:27:48,880 --> 00:27:51,600 Speaker 1: identify that as a really important line. But uh, you know, 491 00:27:51,760 --> 00:27:53,960 Speaker 1: they're a good team, and I want us to keep 492 00:27:53,960 --> 00:27:56,399 Speaker 1: playing the way the New York Rangers play the Rangers, 493 00:27:56,440 --> 00:27:58,679 Speaker 1: and not one a playoff series or even games. It's 494 00:27:58,680 --> 00:28:01,160 Speaker 1: two past in seventeen and a playoff wins at home 495 00:28:01,200 --> 00:28:05,800 Speaker 1: from Miami and Phoenix. John Bloomberg Sports, Right, John, thank you. 496 00:28:05,840 --> 00:28:07,760 Speaker 1: It is six thirty seven on Wall Street. Time to 497 00:28:07,760 --> 00:28:09,440 Speaker 1: take a look at stock, some of the names moving 498 00:28:09,440 --> 00:28:12,200 Speaker 1: in the pre market. Bloomberg Radio and TV Markets correspondent 499 00:28:12,640 --> 00:28:16,120 Speaker 1: Krety Gupta is with me this morning. Crety looks like 500 00:28:16,560 --> 00:28:19,440 Speaker 1: stocks as a whole or moving a bit lower. On's 501 00:28:19,440 --> 00:28:21,520 Speaker 1: scot your eye this morning, moving a bit lower, But 502 00:28:21,600 --> 00:28:23,919 Speaker 1: Nathan remembers this is totally normal. The day before the 503 00:28:24,000 --> 00:28:27,080 Speaker 1: FMC meeting, investors tend to go risk off into those 504 00:28:27,080 --> 00:28:28,680 Speaker 1: FED meetings. At least that's been the trend in the 505 00:28:28,760 --> 00:28:31,680 Speaker 1: last two years or so. And that's just an impact 506 00:28:31,720 --> 00:28:35,040 Speaker 1: of simply the expectation of the removal of stimulus. So 507 00:28:35,080 --> 00:28:37,440 Speaker 1: we'll see if that continues. That makes it underneath the hood, 508 00:28:37,440 --> 00:28:40,200 Speaker 1: there is some action here. Kellogg for example, the letter 509 00:28:40,560 --> 00:28:43,280 Speaker 1: or the ticker is just the letter K is moving 510 00:28:43,320 --> 00:28:46,280 Speaker 1: down one point two percent. Tyson tc T s N 511 00:28:46,280 --> 00:28:49,360 Speaker 1: excuse me, is the other ticker up one point four percent. 512 00:28:49,480 --> 00:28:52,440 Speaker 1: Both stocks cut to underweight from a neutral overt Piper 513 00:28:52,480 --> 00:28:56,280 Speaker 1: Sandler uh the analyst sighting shifting consumer habits caused by 514 00:28:56,320 --> 00:29:00,760 Speaker 1: inflation pressures and valuations ahead of their historical which is nevertheless, 515 00:29:00,760 --> 00:29:03,000 Speaker 1: you are seeing a divergence in those two stocks this morning. 516 00:29:03,080 --> 00:29:05,840 Speaker 1: Nathan Kellogg, like I said, down about one point two 517 00:29:05,840 --> 00:29:10,080 Speaker 1: percent and Tyson up one point four percent. I'm gonna 518 00:29:10,120 --> 00:29:13,000 Speaker 1: stick with this kind of spending theme here and look 519 00:29:13,040 --> 00:29:15,480 Speaker 1: at an earning story this morning. MGM Resorts. The ticker 520 00:29:15,600 --> 00:29:18,600 Speaker 1: is MGM up three point six percent this morning and 521 00:29:18,640 --> 00:29:21,320 Speaker 1: earnings beat. Analysts have been expecting the company to report 522 00:29:21,360 --> 00:29:24,840 Speaker 1: an adjusted loss per share for the period. Instead they 523 00:29:24,880 --> 00:29:27,480 Speaker 1: reported a beat, So good news there for MGM. Remember 524 00:29:27,480 --> 00:29:29,880 Speaker 1: we've been talking about the travel space a lot. Even 525 00:29:29,920 --> 00:29:32,080 Speaker 1: airlines have come in and said, well, there are seeing 526 00:29:32,080 --> 00:29:34,960 Speaker 1: a lot of demand resumption, but also that they're able 527 00:29:35,000 --> 00:29:37,080 Speaker 1: to turn that and turn it into profit, turn it 528 00:29:37,120 --> 00:29:40,680 Speaker 1: into margin, and those that those hotels aren't exempt from 529 00:29:40,680 --> 00:29:42,840 Speaker 1: that theme. As speaking of earnings, we're talking about Clorox 530 00:29:42,920 --> 00:29:45,760 Speaker 1: here and very quickly see LX unchanged this morning. But 531 00:29:45,880 --> 00:29:47,920 Speaker 1: keep an eye on this because the company lowered its 532 00:29:47,920 --> 00:29:51,400 Speaker 1: outlook for full year earnings amid stubbornly rise and costs. 533 00:29:51,400 --> 00:29:53,360 Speaker 1: So once again we're coming down to the margin story 534 00:29:53,520 --> 00:29:56,440 Speaker 1: showing up in Chlorox earnings. Yeah, I see created the 535 00:29:56,520 --> 00:29:58,760 Speaker 1: analysts are keeping an eye on a major tech name 536 00:29:58,760 --> 00:30:02,280 Speaker 1: as well, and video the heavyweight down three tenths of 537 00:30:02,320 --> 00:30:04,760 Speaker 1: one percent n v d A. Keep an eye on 538 00:30:04,760 --> 00:30:06,400 Speaker 1: this one as well, because, like I said, it is 539 00:30:06,400 --> 00:30:08,840 Speaker 1: a heavyweight, so we can move the market. Morgan Stanley 540 00:30:08,880 --> 00:30:11,840 Speaker 1: resuming their coverage with the recommendation of equal weight. That 541 00:30:11,960 --> 00:30:14,440 Speaker 1: isn't exactly the vote of confidence that you might be 542 00:30:14,480 --> 00:30:16,960 Speaker 1: looking more from a major bank decided concerns about a 543 00:30:17,040 --> 00:30:20,680 Speaker 1: deceleration in gaming and the company's high valuation. And Nathan, 544 00:30:20,720 --> 00:30:23,160 Speaker 1: we should mention when we're talking about valuations for these 545 00:30:23,160 --> 00:30:26,000 Speaker 1: tech names, they're actually back to pre pandemic level. So 546 00:30:26,040 --> 00:30:27,920 Speaker 1: that is for the bulls out there, that is the 547 00:30:27,960 --> 00:30:29,920 Speaker 1: case to say, well, maybe the sell off is overdone. 548 00:30:30,120 --> 00:30:32,640 Speaker 1: But for the bears out there, what were the conversations 549 00:30:32,640 --> 00:30:39,080 Speaker 1: we were having in early overdone tech? Uh? Stimulus, UH 550 00:30:39,120 --> 00:30:40,840 Speaker 1: growth slow down. A lot of the same concerns that 551 00:30:40,960 --> 00:30:43,600 Speaker 1: but right now, so is the sell off enough? Is 552 00:30:43,640 --> 00:30:45,800 Speaker 1: going to be the question for a lot of the bears. Yeah, 553 00:30:45,840 --> 00:30:48,520 Speaker 1: it has been a huge debate in recent days. Bloomberg 554 00:30:48,560 --> 00:30:52,360 Speaker 1: Radio on TV. Markets correspondent Pretty Coopta with us this morning, 555 00:30:52,360 --> 00:30:54,880 Speaker 1: and as we take a look at stocks as a 556 00:30:54,920 --> 00:30:59,720 Speaker 1: whole before the open and before the Fed meets in May, 557 00:31:00,000 --> 00:31:01,680 Speaker 1: futures taking a leg lower. We got us some P 558 00:31:01,840 --> 00:31:04,680 Speaker 1: futures down twelve points down, futures down down a hundred four. 559 00:31:05,120 --> 00:31:07,600 Speaker 1: NASTAC futures are lower by forty two points ten. Your 560 00:31:07,640 --> 00:31:10,680 Speaker 1: treasury with a bid up to thirty seconds, you'ld two 561 00:31:10,680 --> 00:31:12,840 Speaker 1: point nine seven percent. You'ld on the two year right 562 00:31:12,920 --> 00:31:16,720 Speaker 1: now to seven five. You're listening to Bloomberg day Break, 563 00:31:22,600 --> 00:31:24,840 Speaker 1: Bloomberg eleven three oh other party and mostly cloudy mid 564 00:31:24,880 --> 00:31:27,760 Speaker 1: sixties today, periods of rain tomorrow with the high your 565 00:31:27,800 --> 00:31:30,080 Speaker 1: sixty five and it will be mostly sunny again by 566 00:31:30,120 --> 00:31:32,680 Speaker 1: Thursday with a high near seventy. Right now fifty two 567 00:31:32,760 --> 00:31:39,920 Speaker 1: in Central Park Markets, headlines and breaking news twenty four 568 00:31:39,960 --> 00:31:43,000 Speaker 1: hours a day at Bloomberg dot com, The Bloomberg Business 569 00:31:43,040 --> 00:31:46,680 Speaker 1: at and at Bloomberg quick tape. He's a Bloomberg Business 570 00:31:46,720 --> 00:31:55,840 Speaker 1: Flash and I'm Karen Moscow and US DOT Index futures 571 00:31:55,840 --> 00:31:57,800 Speaker 1: are following this morning, we got at the First Word 572 00:31:57,800 --> 00:32:00,360 Speaker 1: breaking news desk for today's morning call and is Bill 573 00:32:00,360 --> 00:32:03,280 Speaker 1: Maloney and Bill, good morning and good morning can that's right. 574 00:32:03,360 --> 00:32:05,200 Speaker 1: US features are in the red right now at DOWN 575 00:32:05,240 --> 00:32:08,120 Speaker 1: futures down a hundred and fifty five point dropped twenty one. 576 00:32:08,240 --> 00:32:11,800 Speaker 1: NASA futures are lower by sixties six the US ten 577 00:32:11,880 --> 00:32:14,320 Speaker 1: year old at two point nine seven percent. Gold is 578 00:32:14,360 --> 00:32:17,000 Speaker 1: down five. Oil is also in the red, but bitcoin 579 00:32:17,120 --> 00:32:20,000 Speaker 1: is trading higher by point three percent. Japan was a 580 00:32:20,040 --> 00:32:22,600 Speaker 1: little changed overnight, while your markets are mostly in the 581 00:32:22,640 --> 00:32:24,920 Speaker 1: green this morning and back in the US. On the 582 00:32:24,960 --> 00:32:28,440 Speaker 1: economic front, a tentaclog droble goods orders and factory orders 583 00:32:28,720 --> 00:32:31,640 Speaker 1: after develous night Clorox. But it's fiscally your adjust EPs 584 00:32:31,720 --> 00:32:34,520 Speaker 1: forecast and regarding some of the earnings this morning, Eaton 585 00:32:34,560 --> 00:32:37,960 Speaker 1: Corp boosted fiscally, you're adjust at EPs forecast and fiser 586 00:32:38,000 --> 00:32:41,360 Speaker 1: revenue FEAT estimates. Wrapping things up, Vertex was raised to 587 00:32:41,400 --> 00:32:43,600 Speaker 1: equate at Morgan Stanley Cott had cut the underweight it 588 00:32:43,640 --> 00:32:46,959 Speaker 1: wills Fargo and Kellog was cut to underweight. Overhead Piper 589 00:32:47,480 --> 00:32:49,920 Speaker 1: Live from the first to Breaking News doscom Bill Maloney 590 00:32:49,920 --> 00:32:52,600 Speaker 1: can all right, Bill, thank you, and we're watching Fiser 591 00:32:52,680 --> 00:32:55,640 Speaker 1: shares in the early trade. They are moving lower. They're 592 00:32:55,640 --> 00:32:59,240 Speaker 1: down almost seven percent right now. And to hear line 593 00:32:59,280 --> 00:33:02,240 Speaker 1: Breaking News, are your Bloomberg have squawk on your terminal 594 00:33:02,480 --> 00:33:05,520 Speaker 1: squ a w K. That's a Bloomberg business flash. Now 595 00:33:05,560 --> 00:33:07,720 Speaker 1: here's Michael Barrow with more on what's going on around 596 00:33:07,760 --> 00:33:10,640 Speaker 1: the world. Michael Karen, thank you very much. Barricades are 597 00:33:10,720 --> 00:33:13,480 Speaker 1: up in Protesters have been gathering outside the U. S. 598 00:33:13,480 --> 00:33:17,480 Speaker 1: Supreme Court. It is in response to elite draft opinion 599 00:33:17,520 --> 00:33:21,280 Speaker 1: published by Politico s adjusting the conservative leaning court is 600 00:33:21,320 --> 00:33:24,040 Speaker 1: ready to overturn a Roe v. Way, the landmark ruling 601 00:33:24,080 --> 00:33:28,360 Speaker 1: that legalized abortion overnight planned parenthood, tweeting, Let's be clear, 602 00:33:28,440 --> 00:33:31,880 Speaker 1: this is a draft opinion. It's outrageous, it's unprecedented, but 603 00:33:31,920 --> 00:33:34,760 Speaker 1: it is not final. Abortion is your right and it 604 00:33:34,880 --> 00:33:38,320 Speaker 1: is still legal. But the anti abortion rights group Susan B. 605 00:33:38,440 --> 00:33:42,000 Speaker 1: Anthony List wrote, if the draft opinion made public tonight 606 00:33:42,080 --> 00:33:45,480 Speaker 1: is the final opinion of the court, we wholeheartedly applaud 607 00:33:45,560 --> 00:33:48,480 Speaker 1: the decision. In baseball, the Yankees one, the Mets lost 608 00:33:48,480 --> 00:33:51,240 Speaker 1: along with the Orioles and A's and the NHL playoffs. 609 00:33:51,480 --> 00:33:53,680 Speaker 1: The Hurricanes skated past the Bruins and game one of 610 00:33:53,680 --> 00:33:56,840 Speaker 1: their Series five one. Global News twenty four hours a 611 00:33:56,920 --> 00:33:59,920 Speaker 1: day on air and on Bloomberg Quick Tank, powered by 612 00:34:00,000 --> 00:34:02,360 Speaker 1: more than seven hundred journalist and analysts more than a 613 00:34:02,440 --> 00:34:06,400 Speaker 1: hundred twenty countries. Michael bar this is Bloomberg hereing all right, Michael, 614 00:34:06,440 --> 00:34:08,480 Speaker 1: thank you. While at six forty nine on Wall Street 615 00:34:08,520 --> 00:34:10,800 Speaker 1: returned to news and science and Technology now with a 616 00:34:10,840 --> 00:34:13,560 Speaker 1: Bloomberg and j I T Stem report. Ronzi U Bain, 617 00:34:13,640 --> 00:34:16,680 Speaker 1: New Jersey Institute of Technology and j I T is 618 00:34:16,719 --> 00:34:20,200 Speaker 1: dedicated to bolstering support for female and minority students pursuing 619 00:34:20,239 --> 00:34:23,400 Speaker 1: careers and high paying STEM industries. Learn more at n 620 00:34:23,480 --> 00:34:25,640 Speaker 1: j I T dot E d U and now Here's 621 00:34:25,640 --> 00:34:29,400 Speaker 1: just making news and science, Technology, engineering and math. Beijing 622 00:34:29,520 --> 00:34:32,360 Speaker 1: is going to extreme lengths to avoid the coronavirus woes 623 00:34:32,400 --> 00:34:36,560 Speaker 1: suffered by Beijing. China's capital has ordered repeated testing of 624 00:34:36,600 --> 00:34:41,120 Speaker 1: most residents, halted dining in at restaurants, and barred access 625 00:34:41,160 --> 00:34:45,120 Speaker 1: to public clovs without a negative result. I would say 626 00:34:45,160 --> 00:34:48,239 Speaker 1: that was public places without a negative result. Authorities are 627 00:34:48,239 --> 00:34:50,560 Speaker 1: trying to avoid the lockdowns that have led to chaos 628 00:34:50,560 --> 00:34:54,560 Speaker 1: in Shanghai, and unusually early and brutal heat wave is 629 00:34:54,600 --> 00:34:58,160 Speaker 1: scorching parts of India with acute power shortages affecting millions. 630 00:34:58,160 --> 00:35:01,799 Speaker 1: As demand for electricity surges direct levels, supplies of coal 631 00:35:01,920 --> 00:35:05,480 Speaker 1: and many thermal power plants are running perilously low, spawning 632 00:35:05,560 --> 00:35:09,360 Speaker 1: daily power outages in several states. The shortages are sparking 633 00:35:09,400 --> 00:35:12,640 Speaker 1: scrutiny of India's long reliance on coal, which produces seventy 634 00:35:13,000 --> 00:35:16,200 Speaker 1: of the country's electricity, and bipartisan group of Senators wants 635 00:35:16,239 --> 00:35:19,200 Speaker 1: to loosen Google's grip on the digital ad market. Bloomberger 636 00:35:19,200 --> 00:35:22,160 Speaker 1: has learned they plan to introduce legislation that would force 637 00:35:22,200 --> 00:35:24,680 Speaker 1: Google to sell off parts of it's a lucrative advertising 638 00:35:24,680 --> 00:35:28,800 Speaker 1: technology business. The measure could also have implications for Amazon 639 00:35:28,800 --> 00:35:31,520 Speaker 1: and Facebook parent meta platforms. That's the Bloomberg and j 640 00:35:31,680 --> 00:35:34,680 Speaker 1: I t Stem Report. Nathan, Thanks Karen. We are live 641 00:35:34,719 --> 00:35:37,480 Speaker 1: from the Bloomberg Interactive Brokers studios, where it's coming up 642 00:35:37,480 --> 00:35:39,840 Speaker 1: to six fifty one on Wall Street Time Now to 643 00:35:39,920 --> 00:35:41,680 Speaker 1: check what's going on in d C, where some of 644 00:35:41,719 --> 00:35:45,160 Speaker 1: the top stories include a leaked Supreme Court ruling obtained 645 00:35:45,160 --> 00:35:50,000 Speaker 1: by Politico, a draft opinion that threatens to overturn abortion rights, 646 00:35:50,280 --> 00:35:53,680 Speaker 1: former President Donald Trump's grip on the GOP tested today 647 00:35:53,719 --> 00:35:58,120 Speaker 1: in Ohio, and President Biden planning to tout Javelins on 648 00:35:58,160 --> 00:36:01,200 Speaker 1: a trip today to Alabama. Joe Matthew is back with 649 00:36:01,280 --> 00:36:04,239 Speaker 1: US now Bloomberg Washington correspondent, host of Sound On Here 650 00:36:04,280 --> 00:36:07,600 Speaker 1: on Bloomberg Radio. Obviously, Joe the big story overnight into 651 00:36:07,640 --> 00:36:10,360 Speaker 1: this morning and probably for the days and maybe weeks 652 00:36:10,400 --> 00:36:15,360 Speaker 1: to come. This draft opinion obtained by Politico on Roe v. Wade. 653 00:36:15,600 --> 00:36:18,359 Speaker 1: It is pretty remarkable here, and and we do want 654 00:36:18,360 --> 00:36:20,840 Speaker 1: to remind our listeners that it is a draft opinion, 655 00:36:20,840 --> 00:36:23,719 Speaker 1: it's not a ruling. Uh And and typically you do 656 00:36:23,840 --> 00:36:29,120 Speaker 1: see significant changes from the draft to a final ruling. Here, 657 00:36:29,320 --> 00:36:34,120 Speaker 1: Justices can change their votes, although with something uh so significant, 658 00:36:34,160 --> 00:36:38,040 Speaker 1: so stark, something they're questioned about in every confirmation hearing. 659 00:36:38,719 --> 00:36:42,640 Speaker 1: We don't think that justices are undecided when it comes 660 00:36:42,680 --> 00:36:45,800 Speaker 1: to Roe v. Wade. Nathan, No, certainly not. We've heard 661 00:36:46,640 --> 00:36:49,720 Speaker 1: a number of justices in their confirmation hearing is way 662 00:36:49,760 --> 00:36:53,080 Speaker 1: in on the Roe v. Wade decision. Many of them 663 00:36:53,120 --> 00:36:57,280 Speaker 1: have said it's settled precedent. But if a number of justices, 664 00:36:57,320 --> 00:36:59,800 Speaker 1: if enough justices signed on to this ruling, if it 665 00:37:00,080 --> 00:37:04,919 Speaker 1: us become the official opinion of the Supreme Court, that 666 00:37:05,200 --> 00:37:08,120 Speaker 1: changes things. Well, it's your I mean, would effectively ban 667 00:37:08,200 --> 00:37:10,839 Speaker 1: abortion in about half the country. Twenty six states would 668 00:37:10,880 --> 00:37:14,520 Speaker 1: be expected UH to follow UH, And we've this is 669 00:37:14,560 --> 00:37:17,960 Speaker 1: also why we've seen a number of states, sixteen go 670 00:37:18,080 --> 00:37:21,520 Speaker 1: to the extent of passing preemptive laws, if you will, 671 00:37:21,560 --> 00:37:25,759 Speaker 1: to protect the right to an abortion. Sixteen states, UH. 672 00:37:25,800 --> 00:37:28,239 Speaker 1: Even though we tend to hear more about the Florida's, 673 00:37:28,320 --> 00:37:31,920 Speaker 1: the Oklahoma's, the Texas is. Six states this year have 674 00:37:32,320 --> 00:37:36,920 Speaker 1: enacted abortion bands. And it's it's really something to imagine 675 00:37:36,920 --> 00:37:40,440 Speaker 1: the divide that we're gonna see here, states like Connecticut 676 00:37:40,440 --> 00:37:42,719 Speaker 1: approving a bill that would actually expand the pool of 677 00:37:42,760 --> 00:37:46,279 Speaker 1: people who can perform some abortions. Vermont is moving on 678 00:37:46,320 --> 00:37:50,279 Speaker 1: an amendment to its state constitution to guarantee the right 679 00:37:50,360 --> 00:37:53,239 Speaker 1: to an abortion. So when you consider stories like these 680 00:37:53,280 --> 00:37:56,840 Speaker 1: California UH seeking to make it a refuge for women 681 00:37:57,080 --> 00:38:01,040 Speaker 1: seeking abortions from other states, we're driving in two different 682 00:38:01,040 --> 00:38:03,680 Speaker 1: directions here, Nathan. It's not just about the split, the 683 00:38:03,719 --> 00:38:06,120 Speaker 1: fracture in this country, but the fact that it is 684 00:38:06,160 --> 00:38:09,880 Speaker 1: continuing to get wider, and something else we've seen overnight 685 00:38:10,000 --> 00:38:13,440 Speaker 1: Joe barricade set up outside the Supreme Court, hundreds if 686 00:38:13,440 --> 00:38:18,480 Speaker 1: not thousands of protesters for and against abortion rights. How 687 00:38:18,520 --> 00:38:22,319 Speaker 1: does this potentially change the political landscape heading into a 688 00:38:22,360 --> 00:38:25,879 Speaker 1: mid term election with primary of votes happening at least 689 00:38:25,920 --> 00:38:29,480 Speaker 1: two states today, that's right, You've got Ohio and Indiana 690 00:38:29,520 --> 00:38:32,240 Speaker 1: with primaries. I can't imagine that this will in fact 691 00:38:33,040 --> 00:38:35,920 Speaker 1: have a huge role in that because people have largely 692 00:38:35,960 --> 00:38:37,840 Speaker 1: made up their minds and these are primaries, right, this 693 00:38:37,880 --> 00:38:42,200 Speaker 1: will likely impact general election votes. Uh and and it 694 00:38:42,239 --> 00:38:45,000 Speaker 1: could impact them on a significant level. It's very difficult 695 00:38:45,040 --> 00:38:48,480 Speaker 1: to gauge that exactly this morning, but this is clearly 696 00:38:48,520 --> 00:38:51,960 Speaker 1: a huge motivator and could have a major impact on 697 00:38:52,080 --> 00:38:55,520 Speaker 1: democratic turnout. You know, before we had this leak, before 698 00:38:55,560 --> 00:38:59,120 Speaker 1: we were even aware of this, Senator Elizabeth Warren had said, 699 00:38:59,160 --> 00:39:03,200 Speaker 1: you want to see a red volution overturn Roe v. Wade, 700 00:39:03,239 --> 00:39:05,480 Speaker 1: and there is some truth to that. I would expect 701 00:39:05,480 --> 00:39:08,160 Speaker 1: to see a massive march on Washington. This is going 702 00:39:08,200 --> 00:39:10,840 Speaker 1: to be a motivator with not just people voting, but 703 00:39:10,880 --> 00:39:15,480 Speaker 1: also with dollars campaign contributions. We know the wide majority 704 00:39:15,480 --> 00:39:18,680 Speaker 1: of Americans opposed revoking Roe v. Wade. Only one in 705 00:39:18,719 --> 00:39:23,080 Speaker 1: five voters support making abortion illegal in any circumstances, and 706 00:39:23,120 --> 00:39:26,120 Speaker 1: this is why it's the third rail and politics, Nathan uh. 707 00:39:26,360 --> 00:39:30,080 Speaker 1: It may challenge issues like inflation, jobs, COVID everything at 708 00:39:30,120 --> 00:39:32,640 Speaker 1: the polls this year. I wanted to ask about that 709 00:39:32,600 --> 00:39:35,160 Speaker 1: that does this turn into a base election in November 710 00:39:35,400 --> 00:39:41,560 Speaker 1: or does this supersede other issues for swing voters, particularly inflation. Yeah, 711 00:39:41,640 --> 00:39:44,040 Speaker 1: it's a great question, and it's very hard for us 712 00:39:44,040 --> 00:39:47,040 Speaker 1: to know now where we will be. Then. Of course, 713 00:39:47,080 --> 00:39:50,120 Speaker 1: we expect an actual ruling by July, so we will 714 00:39:50,120 --> 00:39:52,960 Speaker 1: know along in advance of November where we stand here. 715 00:39:53,160 --> 00:39:55,200 Speaker 1: But it could put more attention. It's not just you know, 716 00:39:55,280 --> 00:39:57,560 Speaker 1: the kind of headline that you're imagining here. It could 717 00:39:57,600 --> 00:40:01,600 Speaker 1: put more attention on gubernatorial races, on state legislative races 718 00:40:01,640 --> 00:40:05,040 Speaker 1: as abortion rights returns to the states in this case, 719 00:40:05,280 --> 00:40:08,919 Speaker 1: and he could have a big impact in suburban congressional districts, 720 00:40:08,960 --> 00:40:11,680 Speaker 1: particularly in the battleground states that we're already looking at, 721 00:40:11,680 --> 00:40:15,000 Speaker 1: like Pennsylvania, Georgia, Arizona. That will help the side control 722 00:40:15,000 --> 00:40:16,839 Speaker 1: of the Senate and the time we have left Joe. 723 00:40:16,880 --> 00:40:19,239 Speaker 1: Let's talk about the races that are happening today, the 724 00:40:19,360 --> 00:40:23,920 Speaker 1: votes happening, particularly in Ohio, where the Trump endorsement is 725 00:40:24,000 --> 00:40:26,920 Speaker 1: as much on the ballot as the candidates themselves. Yeah. 726 00:40:26,960 --> 00:40:29,640 Speaker 1: I don't know if Donald Trump ever read the Hillbilly 727 00:40:29,680 --> 00:40:33,000 Speaker 1: Elegy by J. D Vance, But that's the man he 728 00:40:33,160 --> 00:40:35,759 Speaker 1: has taken from the back of the pack, uh, to 729 00:40:35,840 --> 00:40:37,800 Speaker 1: turn him into the front run of the venture capitalist 730 00:40:37,840 --> 00:40:39,320 Speaker 1: who at one time didn't always have a lot of 731 00:40:39,400 --> 00:40:41,799 Speaker 1: nice things to say about Donald Trump. But when we 732 00:40:41,800 --> 00:40:44,719 Speaker 1: saw Donald Trump on Saturday at a rally there, he 733 00:40:44,800 --> 00:40:47,319 Speaker 1: actually couldn't get J. D Vance his name out quite right. 734 00:40:47,360 --> 00:40:51,600 Speaker 1: He called him JP. Vans were said, JP Mandel is 735 00:40:51,640 --> 00:40:56,640 Speaker 1: referring to Josh Mandel, who is uh likely Uh. J 736 00:40:56,760 --> 00:40:59,799 Speaker 1: d Vance is most significant opponent here. They've been within 737 00:40:59,840 --> 00:41:02,279 Speaker 1: a couple the points of each other, and he's also 738 00:41:02,360 --> 00:41:06,080 Speaker 1: wrapping himself in Trump. The potential for confusion has been 739 00:41:06,120 --> 00:41:08,680 Speaker 1: remarkable here, not only with Trump kind of biff in 740 00:41:08,719 --> 00:41:11,480 Speaker 1: the name at the podium over the weekend, but Josh 741 00:41:11,520 --> 00:41:14,680 Speaker 1: Mandel in every reference has a picture of himself with 742 00:41:14,760 --> 00:41:18,200 Speaker 1: Trump and his literature, he says he's the only candidate 743 00:41:18,280 --> 00:41:22,560 Speaker 1: in the race who believes that Trump won the presidential election. Uh, 744 00:41:22,600 --> 00:41:24,759 Speaker 1: and that Joe Biden lost, even though that's not really 745 00:41:24,840 --> 00:41:27,040 Speaker 1: true based on what we've heard. Uh and I think 746 00:41:27,040 --> 00:41:29,040 Speaker 1: a lot of Uh. If you ask a lot of 747 00:41:29,120 --> 00:41:31,240 Speaker 1: voters there, they might not be sure who is closer 748 00:41:31,280 --> 00:41:34,279 Speaker 1: to Trump, the one that Trump nominated or the others 749 00:41:34,280 --> 00:41:36,040 Speaker 1: who are trying to get closer to him. In the 750 00:41:36,160 --> 00:41:38,759 Speaker 1: thirty seconds, Joe, get us ready for President Biden's trip 751 00:41:38,880 --> 00:41:41,919 Speaker 1: to Alabama today. He's going to a Lockheed plant where 752 00:41:41,920 --> 00:41:44,360 Speaker 1: they make the Javelin anti tank missile. You might remember 753 00:41:44,360 --> 00:41:47,200 Speaker 1: the President saying speak softly and carry along Javelin when 754 00:41:47,200 --> 00:41:50,400 Speaker 1: he was announcing the most recent shipment of weapons. This 755 00:41:50,440 --> 00:41:54,400 Speaker 1: is the anti tank system that has been pivotal to 756 00:41:54,480 --> 00:41:57,960 Speaker 1: the battle in Ukraine for for the Ukrainian military to 757 00:41:58,080 --> 00:42:02,279 Speaker 1: hold off Russian forces picunally an urban warfare. Uh. This 758 00:42:02,360 --> 00:42:04,520 Speaker 1: is gonna be an opportunity for the President to say 759 00:42:04,560 --> 00:42:06,960 Speaker 1: thank you to the plants employees, two hundred and sixty 760 00:42:07,000 --> 00:42:10,120 Speaker 1: five of them support this anti tank system. That facility 761 00:42:10,120 --> 00:42:12,680 Speaker 1: cranks out about two thousand of them a year. And Nathan, 762 00:42:12,719 --> 00:42:14,840 Speaker 1: we need more, not just for Ukraine, but to replenish 763 00:42:14,880 --> 00:42:18,759 Speaker 1: our stocks here. Thanks as always, Joe Matthew, Bloomberg Washington correspondent, 764 00:42:18,800 --> 00:42:21,680 Speaker 1: host of Sound On much more on all these stories 765 00:42:22,080 --> 00:42:26,800 Speaker 1: five pm. Wall Street Time here on Bloomberg Radio. Meantime, 766 00:42:26,840 --> 00:42:28,759 Speaker 1: you can read more Bloomberg dot com or on the 767 00:42:28,760 --> 00:42:31,800 Speaker 1: Bloomberg Terminal. Listen to Bloomberg Radio in Washington and Bloomberg 768 00:42:32,440 --> 00:42:36,560 Speaker 1: one oh five point seven FM, HD two SMP Future 769 00:42:36,600 --> 00:42:39,080 Speaker 1: is now lower by sixteen points. Staff futures down a 770 00:42:39,120 --> 00:42:43,040 Speaker 1: hundred forty one, Nastack futures down fifty two points. Bloomberg 771 00:42:43,239 --> 00:42:47,799 Speaker 1: Surveillance is next for Karen Moscow. I'm Nathan Hager. This 772 00:42:47,920 --> 00:42:48,640 Speaker 1: is Bloomberg