Speaker 1: My from the Bloomberg Interactive Burker's Studios is Bloomberg Day
Speaker 1: Right for Thursday, September two. Coming up. This shour stock
Speaker 1: stabilizes investors await another key economic report. Talks continue in
Speaker 1: an effort to have heard a freight rail strike in
Speaker 1: the US. Vladimir Plutin and Shi Jin ping me for
Speaker 1: the first time since the invasion of Ukraine, and we'll
Speaker 1: tell you which business school is ranked tops in the country.
Speaker 1: One of the women who accused former New York Governor
Speaker 1: Cuomo of sexual harassment is suing him. Plushoom Braine assesses
Speaker 1: damage liberated cities from Russia's occupation on my foolar more
Speaker 1: ahead boards Another winds of the Yankees in Boston. Another
Speaker 1: loss for the Mets that comes finished the city fields.
Speaker 1: Weel that's all straight ahead on Bloomberg day Break on
Speaker 1: Bloomberg Eliven Trio, New York, Bloomberg one, Washington, d C
Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine six seven, Francisco,
Speaker 1: Sirius x M one ninet and around the world on
Speaker 1: Bloomberg Radio. To come and via the Bloomberg Business app.
Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow. US
Speaker 1: stock index futures. They're little change this morning. We are
Speaker 1: coming up to five oh one on Wall Street. We
Speaker 1: checked the markets to every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg. Right now, SNP futures again are little changed
Speaker 1: and so are down in Nasdack future is pretty much
Speaker 1: the decks in Germany is up a quarter of a percent.
Speaker 1: Ten year Treasury down ten thirty seconds, yield three point
Speaker 1: four four percent, and the yield on the two year
Speaker 1: three point eight one percent. Nathan, Karen, We're seeing equities
Speaker 1: continue to stabilize following Tuesday's sell off. Yesterday's late day
Speaker 1: rally saw the SNP five close up a third of
Speaker 1: a percent. As for bonds, the US two to thirty
Speaker 1: year curve has reached the most inverted level this century.
Speaker 1: Megan Horneman is chief investment officer Adverdence Capital. You're gonna
Speaker 1: see a lot of this choppings. It's just going to
Speaker 1: be an ugly market over the next week. The markets
Speaker 1: just waiting for that FED report, and then even between
Speaker 1: now and then, we have quite a bit of economic
Speaker 1: data to digest, So I think you're just going to
Speaker 1: see a very sideways choppy market until we get a
Speaker 1: little bit more clarity on exactly what the Fed's going
Speaker 1: to do Burden's capitals. Megan Hornaman says we're all waiting
Speaker 1: for Wednesday's FED decision. Market surprising in a seventy five
Speaker 1: basis point rate hike. Well, Nathan. A gloomy prediction for
Speaker 1: equities this morning from Ray Dalio, the billionaire founder of
Speaker 1: Bridgewater Associate, says stocks could fall about twenty percent as
Speaker 1: if the Fed's target rate reaches four and a half percent.
Speaker 1: The comments and a LinkedIn article followed this week's hotter
Speaker 1: than expected inflation data. Well, busy week on the economic
Speaker 1: front continues this morning, Karen. With the release of US
Speaker 1: retail sales for August, we get a preview from Bloomberg's
Speaker 1: Michael McKee. As it did with the CPI report, gasoline
Speaker 1: will have a major impact on the August retail report.
Speaker 1: Retail sales are reported in dollars, and the drop in
Speaker 1: gas prices will mean a big drop in service station sales.
Speaker 1: The question is whether consumers redirected any of their savings
Speaker 1: to spending on other things. It is back to school season,
Speaker 1: retailers expect a jump in sales. Beyond that, the issue
Speaker 1: is whether Americans continued their switch to spending on services, which,
Speaker 1: with the exception of bars and restaurants, aren't included in
Speaker 1: this number. The retail figures aren't adjusted for inflation, so
Speaker 1: sales will look stronger than they actually were. Michael McKay,
Speaker 1: Bloomberg Daybreak, Right, MC, thank you. Another major story where
Speaker 1: following this morning could have big implications for the economy
Speaker 1: and the market's a possible freight rail strike. Rail and
Speaker 1: union negotiators are still at the table, but it is
Speaker 1: not clear yet if there's been any progress in averting
Speaker 1: a strike set to begin as early as tomorrow. They
Speaker 1: get the latest from Bloomberg's Amy Morris from our newsroom
Speaker 1: in Washington. Talks led by Labor Secretary Marty Waltz, continued
Speaker 1: through the night. Still, officials are making contingency plans in
Speaker 1: case one five thousand freight rail workers walk off the job,
Speaker 1: which some estimates say could cost the US more than
Speaker 1: two billion dollars a day. This setdown would be the
Speaker 1: largest of its kinds and would impact travel and the
Speaker 1: supply chain. Now, industry groups want Congress to step in
Speaker 1: to help avoid In their words, a catastrophic shutdown of
Speaker 1: the freight rail system in Washington. I'm anymore as Bloomberg
Speaker 1: Daybreak thanks Amy, the strike could have a wide ranging impact.
Speaker 1: Treasury Secretary Janet Yellen is warning about the potential economic
Speaker 1: damage from a labor stoppage. It would be a significant
Speaker 1: impediment to shipping goods and to create supply chain challenges.
Speaker 1: It's certainly something we don't want to see happen. In
Speaker 1: an interview with CBS, Secretary Yellen also says she thinks
Speaker 1: inflation will improve substantially over the next year due to
Speaker 1: current actions by the Fed. And we turn overseas now,
Speaker 1: Nathan to geopolitics, where Chinese President Sheijin Ping and Russian
Speaker 1: President Vladimir Putin our center stage. The leaders are taking
Speaker 1: a new step today and there are no limits friendship.
Speaker 1: Bloomberg Daybreak Asia anchor Bryan Curtis has more from Hong Kong.
Speaker 1: Putin probably shouldn't expect to much at his first meeting,
Speaker 1: was she Since the Winter Olympics, China was caught off
Speaker 1: guard when Russia invaded Ukraine a few weeks later. Beijing
Speaker 1: struggled to offer support while avoiding endorsing a clear violation
Speaker 1: of sovereignty, but China came to grips with it, especially
Speaker 1: after Nancy Pelosi visited Taiwan. Now, China says it fully
Speaker 1: understands all measures by Russia to protect his interests. Beijing
Speaker 1: has stopped short of military support for Russia, but the
Speaker 1: Alliance will continue to serve as a check on the
Speaker 1: West in Hong Kong. Brian Curtis Bloomberg Daybreak. All right, Brian,
Speaker 1: thank you in the UK Tota eight man all week. Really,
Speaker 1: it's all about the Queen. Queen Elizabeth's coffin is now
Speaker 1: in Westminster as she lies in state for four days.
Speaker 1: Let's get the latest live with Bloomberg's You and Potts.
Speaker 1: Good morning, Good morning, Nathan and Karen. The British are
Speaker 1: famous for waiting in line, and that is exactly what
Speaker 1: thousands are doing right now as they wait patiently to
Speaker 1: pay their respects to the late Queen Elizabeth, the country's
Speaker 1: longest ever serving monarch. Imagine these coffein is now lying
Speaker 1: in state at the Hearts of the Palace of Westminster,
Speaker 1: where it will remain until Monday morning ahead of the funeral.
Speaker 1: Morna is a big omitted twenty four hours a day,
Speaker 1: but with hundreds of thousands of people expected, the line
Speaker 1: currently stretching three miles could grow very much longer. In London,
Speaker 1: I'm you and part spoon by daybreak, all right, new
Speaker 1: and thank you. Well, we have some corporate news out
Speaker 1: of Europe this morning. The CEO of shell will step
Speaker 1: down at the end of the year. Ben Van Burden
Speaker 1: has been at the energy giant for almost forty years
Speaker 1: and it's been CEO for the past eight will now
Speaker 1: be replaced by Shells Head of Gas and Renewables. Well
Speaker 1: el so on well. The annual list of top business
Speaker 1: schools in the country is out from Bloomberg Business Week Karen,
Speaker 1: and this year Stanford is again number one. Its results
Speaker 1: remained consistent with past years, as it scored highest in compensation,
Speaker 1: networking in entrepreneurship. The University of Chicago's Booth School and
Speaker 1: Harvard Business School tied for second place. And speaking of Chicago, Nathan,
Speaker 1: when it comes to housing, that city, along with New York,
Speaker 1: and the most vulnerable to price to clients in a
Speaker 1: potential economic downturn. That's according to a report by real
Speaker 1: estate data analytics firm ADAM. Of the fifty counties most
Speaker 1: at risk, nine are in and around New York and
Speaker 1: six are in the Chicago metropolitan area. Straight I had
Speaker 1: your latest local headlines, plus a check of sports, and
Speaker 1: this is Bloomberg and itsself. Five oh seven on Wall
Speaker 1: Street or sixteenth degrees in Central Park. Got a tractor
Speaker 1: trailer fire clean up underway in the North Bend New
Speaker 1: Jersey Turnpike, passed eggs and eight details coming up in traffic.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. One time, a to former New York Governor
Speaker 1: Andrew Cuomo sued him, saying he sexually harassed her and
Speaker 1: then smeared her reputation after she became the second moment
Speaker 1: to publicly accuse him of misconduct. Charlotte Bennett's lawsuit, filed
Speaker 1: in a federal court in New York City, repeats many
Speaker 1: of the allegations she has talked about publicly. She said
Speaker 1: the governor subjected her to unwanted advances, including telling her
Speaker 1: that he was lonely and on the hunt for a girlfriend.
Speaker 1: The New York City Commissioner of Immigration Affairs says that
Speaker 1: many of the vigrants who are being bussted from Texas
Speaker 1: did not want to go to New York. Commissioner Manuel
Speaker 1: Castro says the city is helping them get to other states.
Speaker 1: Castro told Fox five many want to go to places
Speaker 1: like Florida, where the largest community of Venezuelans live. A
Speaker 1: charter flight with about fifty Venezuelan migrants, including children, landed
Speaker 1: on Martha's Vineyard. Yesterday's charter flight was arranged by Florida
Speaker 1: Governor around the Santas's office, saying they sent the immigrants
Speaker 1: from Texas to sanctuary states as part of their relocation program.
Speaker 1: Officials on the islands say they had no prior notice,
Speaker 1: but as soon as they learned what was happening, they rallied.
Speaker 1: Berbera Rush is with St. Andrew's Parish. We've received calls
Speaker 1: from restaurants offering food, stores offering food, people offering space,
Speaker 1: you know, private people showing up saying what can I
Speaker 1: do to help? But it's been amazing. Barbara Rush with St.
Speaker 1: Andrew's Parish. Some state officials in Massachusetts have blasted the scantists,
Speaker 1: calling it a political stunt. A Brooklyn mother has been
Speaker 1: officially charged with drownding of three children who were later
Speaker 1: found on the beach in Coney Island, and when Murdy
Speaker 1: faces several charges, including three counts of murder, President Voladimir
Speaker 1: Zelenski went outside the capital of Kiev to assess the
Speaker 1: damage in cities once again in Ukrainian control. He says,
Speaker 1: Isium was left largely devastated, with apartment buildings blackened by
Speaker 1: fire and pock marked by artillery strikes. The main thing
Speaker 1: that not me here, our soldiers here. That is very
Speaker 1: important thing that its supports supports people. I see how
Speaker 1: people UH meet them. That is you know, uh, we
Speaker 1: are a sensitive moment, President Zelenski. Global name is twenty
Speaker 1: four hours a day on air and on Bloomberg quick
Speaker 1: take power by more than twenties, have a hundred journalists, analysts,
Speaker 1: more than a hundred, twenty countries. Michael bar this is
Speaker 1: Bloomberg Nather. All right, Michael, thank you, very important. Red
Speaker 1: headline just crossing the Bloomberg terminal. The Labor Department says,
Speaker 1: US rail companies and union negotiators have come to a
Speaker 1: tentative agreement to avert a nationwide freight rail strike. We
Speaker 1: will have much more details coming up for you in minutes.
Speaker 1: Here on Bloomberg Daybreak five ten on Wall Street. Now
Speaker 1: time for the Bloomberg Sports Update with John Stashower. Thanks
Speaker 1: Nathans so much for the Mats being able to take
Speaker 1: advantage of playing inferior opponents. Last eleven games have been
Speaker 1: against Washington, Pittsburgh, Miami, and the Cubs for the worst
Speaker 1: in the league in those games, and that's just four
Speaker 1: and seven swept at home by the lowly Cubs. Last
Speaker 1: night's Chicago had six to nothing in the first inning,
Speaker 1: David Peterson Phase six batters got only one out. Cubs
Speaker 1: went on to win sixth three. That's still in first
Speaker 1: place only because Atlanta has suddenly lost four out of
Speaker 1: five ments lead by a half game that host the
Speaker 1: Pirates Tonight. Yankees with a sweep of the many two
Speaker 1: game series in Boston. No Aaron Judge home runs, but
Speaker 1: the big night for Glaver tore As he had the
Speaker 1: winning hit Tuesday. Three more hits last night, the one
Speaker 1: in the fifth inning snapped a scoreless tie, and when
Speaker 1: Boston capture Connor Wong through the ball wildly, three runs
Speaker 1: scored in putting Torres circling in the bases. The Yanks
Speaker 1: one five to three. Donovan Mitchell introduced in Cleveland, traded
Speaker 1: by Utah. The New York native was asked about a
Speaker 1: trade to the next I thought for sure I was
Speaker 1: going back home, not gonna lie about that. But you know,
Speaker 1: when I found out where I was headed, who I
Speaker 1: was playing with, the group, the team, the coaching staff,
Speaker 1: I couldn't be more happier to be here, to be
Speaker 1: a part of this organization, to be a part of
Speaker 1: this group, to join these phenomenal guys man and adds
Speaker 1: who you know. And I think that for me is
Speaker 1: what I'm truly excited. The meanwhile, controversy in the NBA,
Speaker 1: Lebron James critical of Commissioner Adam Silver's decision to to
Speaker 1: spend Phoenix Suns owner Robert Sarver for only one year.
Speaker 1: Starver was found up conducted racist and misogynistic behavior. John Stashward,
Speaker 1: Bloomberg Sports Nathan all Right, John, thanks again. The breaking
Speaker 1: news tentative deal reached between freight rail companies and the
Speaker 1: union to potentially avert a nationwide rail strike. Will at
Speaker 1: the details next with Bloomberg Government's Jack Fitzpatrick in Washington.
Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather mostly sunny
Speaker 1: today with higher seventy five degrees sunshine up or seventies tomorrow.
Speaker 1: We'll get into the low eighties Saturday and bring in
Speaker 1: some clouds Sunday with a high near eighty five. Right
Speaker 1: now sixty eight in Central Park Markets. Headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business Outland at Bloomberg Quick Tape. He's a
Speaker 1: Bloomberg Business Flash And I'm Karen Moscow, and we're watching
Speaker 1: futures this morning as they drift. This is investors await
Speaker 1: the latest batch of economic data met expectations of large
Speaker 1: interest rate hikes by the Federal Reserve. Treasury yields are
Speaker 1: rising the Dollar study, and we check the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg. Right now,
Speaker 1: S and P futures again are little change. DAL futures
Speaker 1: are higher of forty, while Nastack futures are little chain.
Speaker 1: The decks in Germany's up three tenths of upper set.
Speaker 1: Can your treasury down ten thirty seconds you have three
Speaker 1: point four or four percent and they yield on the
Speaker 1: two year three point eight two percent. Ninemex screwed oil
Speaker 1: down two tenths per cent, or fifteen cents at eighty
Speaker 1: eight dollars, thirty five cents of barrel comics goal down
Speaker 1: three quarters of a percent on twelve dollars eighty cents
Speaker 1: at sixteen ninety six thirty announced. The euro is at
Speaker 1: point seven against the dollar, British found one point one
Speaker 1: five oh four, the yen one forty three point four too,
Speaker 1: and Bitcoin is of nine tenths of upper cent at
Speaker 1: twenty thousand, one d twenty five dollars. That's a Bloomberg
Speaker 1: business flash. Now here's Michael Barr with more I'm going
Speaker 1: on around the world. Uncle, good morning, Good morning Karen.
Speaker 1: This just in. It looks like a freight rail strike
Speaker 1: will be averted. The Labor Department says US reel companies
Speaker 1: and union negotiators have reached a tentative agreement. The statement
Speaker 1: says they have an agreement that balances the needs of workers, businesses,
Speaker 1: and the economy. Strike had been looming as soon as tomorrow,
Speaker 1: which could have cost the U. S economy as much
Speaker 1: as two billy and dollars a day. Mourners continue to
Speaker 1: file past the casket of Queen Elizabeth at Westminster Hall
Speaker 1: in London. Some people have waited in long lines were
Speaker 1: up to thirty hours. Baseball, the Yankees beat the Red
Speaker 1: Sox five three, the Mets lost, The Orioles beat the
Speaker 1: Nationals six two, the A's and Giants one Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than journalists and analyists more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg, Nathan, Michael,
Speaker 1: thank you. It's five nineteen on Wall Street Live from
Speaker 1: the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak, and
Speaker 1: let's get more now on the news that just broke
Speaker 1: minutes ago, the White House and the Labor Department announcing
Speaker 1: at tentative agreement reached between freight rail companies and their
Speaker 1: unions that could potentially avert a nationwide rail strike that
Speaker 1: could have taken effect as soon as midnight tonight. Let's
Speaker 1: bring in Bloomberg. Government Congressional reporter Jack Fitzpatrick has been
Speaker 1: following these negotiations from the nation's capital and joins us
Speaker 1: now from our Bloomberg ninety on one studios in Washington,
Speaker 1: d C. Jack, Good morning, Uh, this couldn't have come
Speaker 1: at a better time for the Viden administration and I
Speaker 1: guess for the U. S. Economy as a whole. Yeah,
Speaker 1: not a moment too soon. Essentially, the statement from Labor
Speaker 1: Secretary Marty Walsh that just came out a few minutes
Speaker 1: ago said this happened after more than twenty consecutive hours
Speaker 1: of negotiations. Uh. They just announced this a little after
Speaker 1: five am this morning. Uh. The the deadline was tonight
Speaker 1: and it appears that you know, they're they're calling this
Speaker 1: attentative agreement, but it appears that there will not have
Speaker 1: to be a strike and that there's enough of an
Speaker 1: agreement in place so that we have a statement from
Speaker 1: the White House. Uh it says the rail workers are
Speaker 1: going to get better pay, improved working conditions, and in
Speaker 1: the presence were uh, peace of mind around their healthcare costs.
Speaker 1: A big part of this was about paid medical leave
Speaker 1: and work time flexibility and the demands that have been
Speaker 1: put on rail workers uh during the pandemic about having
Speaker 1: to come into work on very short notice. Uh. So
Speaker 1: it would appear there's going to be something in there
Speaker 1: for them that goes beyond the initial recommendations from the
Speaker 1: President's Emergency Board. But it's it's very big news and
Speaker 1: it you know, they could not have waited much longer
Speaker 1: before a strike would have happened. And I have to
Speaker 1: imagine it's pretty important news as well for President Biden himself,
Speaker 1: who we've heard many times from the President that he
Speaker 1: wants to be the most pro union president in history,
Speaker 1: and now it looks like, uh, he's potentially gotten a
Speaker 1: big win for a major labor union in this country. Yeah,
Speaker 1: and especially this close to the midterm elections. One, this
Speaker 1: was an issue that threatened to, uh, potentially undermine President
Speaker 1: Biden's standing with unions if this all fell apart. The
Speaker 1: fact that they did not immediately wholeheartedly sign on to
Speaker 1: the emergency boards recommendations was was not a good thing.
Speaker 1: But also, even more broadly, the the possibility of economic
Speaker 1: damage from this so close to the mid terms was
Speaker 1: another big threat for the president and for Democrats on
Speaker 1: the campaign trail. Uh. The real officials had estimated this
Speaker 1: would cause about two billion dollars per day of economic
Speaker 1: damage that would probably be significantly worse than even if
Speaker 1: there were a government shut down. Uh. It just for
Speaker 1: the context of the deadlines that that that we're coming up. Uh.
Speaker 1: So it's it's a big crisis averted. It seems as
Speaker 1: long as they're not putting the cart before the horse,
Speaker 1: and this tentative agreement becomes a wholehearted agreement. Yeah. It's
Speaker 1: a significant news as well, coming on the heels of
Speaker 1: the inflation print we just got this week that shows
Speaker 1: that higher prices continue to be an issue in this
Speaker 1: economy and potentially politically for the president as well. Yeah,
Speaker 1: you know it. It's a bit of a case study
Speaker 1: on the inflation uh impact on on wages and what
Speaker 1: the wage demands are. UH. Significant pay increases offered in
Speaker 1: this deal, even before the tentative deal that they're discussing now.
Speaker 1: It also it gets to what workers are demanding in
Speaker 1: terms of time time off, paid, time off, flexibility, that
Speaker 1: kind of thing, UH, and how much pushback there are
Speaker 1: there is from uh from critical workers like rail workers,
Speaker 1: UH against the constraints that were put on them during
Speaker 1: the pandemic. So these are very unique economic times right now,
Speaker 1: and this is a bit of a case study in
Speaker 1: how these negotiations go forward and show what workers demand
Speaker 1: and what workers can realistically get UH in a time
Speaker 1: with continued significant inflation and questions about what the workplace
Speaker 1: looks like for a lot of people during the pandemic.
Speaker 1: Only about thirty seconds left here, Jack, But again, we've
Speaker 1: just gotten this tentative agreement announced just minutes ago. What
Speaker 1: are you looking for next? Uh? Does it go through?
Speaker 1: Because there's not a clear path for Congress to step in?
Speaker 1: This came up yesterday. There there's not clear willingness for
Speaker 1: Congress to pass something to force both sides to accept
Speaker 1: a certain offer. Uh, you know, can the White House
Speaker 1: get this absolutely across the finish line? Uh? Does it
Speaker 1: not only get the thumbs up from labor leaders, but
Speaker 1: do the labor votes from the workers get this across
Speaker 1: the board? Does a tentative agreement turn into an agreement? Agreement? Thanks? Jack,
Speaker 1: great having one with us, as always been our government
Speaker 1: Congressional reporter Jack Fitzpatrick with us from our Bloomberg studios
Speaker 1: in Washington, d C. On the breaking news a tentative
Speaker 1: agreement announced by the White House and the Labor Department
Speaker 1: to potentially avert a nationwide freight rail strike that could
Speaker 1: have snarled of the U S supply chain if that
Speaker 1: strike had gone into effect around midnight tonight, but again
Speaker 1: tentative agreement announced between the unions and the freight rail companies.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather, mostly sunny,
Speaker 1: mid seventies today, sunny, upper seventies Tomorrow, low eighties Saturday
Speaker 1: and Sunday with a mix of sun and clouds. Right
Speaker 1: now sixty eight in Central Park, broadcasting live from the
Speaker 1: Bloomberg Interactive Broker Studio in New York. Bloomberg E Living
Speaker 1: free to Washington, d C. Bloomberg on to Boston, Bloomberg
Speaker 1: one oh six, one to San Francisco, Bloomberg nun sixty
Speaker 1: to the country, Sirius XM Chando one nine ten, and
Speaker 1: around the globe the Bloomberg Business and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.
Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen Moscow, and
Speaker 1: we're just about four hours away from the open of
Speaker 1: US trading. Let's get you up to date on the
Speaker 1: news you need to know at this hour. We have
Speaker 1: breaking news this morning. As we've been telling you, it
Speaker 1: looks like Afraid rail strike will not happen tomorrow. The
Speaker 1: Labor Department says US rail companies and union negotiators have
Speaker 1: reached a tentative deal to avert of strike. Bloomberg Government
Speaker 1: reporter Jack That's Patrick joins us with the latest. The
Speaker 1: real officials had estimated this would cause about two billion
Speaker 1: dollars per day of economic damage. That would probably be
Speaker 1: significantly worse than even if there were a government shut down.
Speaker 1: It's a big crisis averted, it seems as long as
Speaker 1: they're not putting the cart before the horse, and this
Speaker 1: tentative agreement becomes a wholehearted agreement. Bloomberg's Jack Fitzpatrick says,
Speaker 1: the Labor Department believes the agreement balances the needs of workers, businesses,
Speaker 1: and the economy. And we'll keep you up to date
Speaker 1: on those details throughout the morning here on Bloomberg Radio.
Speaker 1: But first let's get you caught up on markets. Equities
Speaker 1: are stabilizing in the wake up Tuesdays sell off right now,
Speaker 1: SMP futures are little changed. Still, Concerns over inflation and
Speaker 1: the Fed remain front and center. Robert Teeters, head of
Speaker 1: investment policy with Silver Crest, asked that management overall, it
Speaker 1: really took us back just about a week in terms
Speaker 1: of where the SMP had been, and so that says
Speaker 1: that there was a lot of optimism built into that report.
Speaker 1: Didn't come through quite as planned, But I think the
Speaker 1: CPI print wasn't quite as bad as numbers in isolation
Speaker 1: would have made it out to be really more reversal
Speaker 1: of the prior week. So again this concept of patients
Speaker 1: and sort of looking through the numbers a little bit,
Speaker 1: things are going to take some time to settle down.
Speaker 1: Robert Teoter with Silver Crest says markets could rebound if
Speaker 1: we get a few positive inflation readings in the coming months. Meantime, Nathan,
Speaker 1: we're getting a gloomy prediction for equities this morning from
Speaker 1: a billionaire. Raid Dalio, the founder of Bridgewater Associate, says
Speaker 1: stocks could fallow about twenty if interest rates increased to
Speaker 1: about four and a half percent. Kealio made the prediction
Speaker 1: in a linked in article. In A busy week on
Speaker 1: the economic front continues today, Karen, with the release of
Speaker 1: monthly retail sales. We get those numbers this morning at
Speaker 1: eight thirty Wall Street time, along with data on Empire
Speaker 1: manufacturing and weekly jobless claims and turning overseas now, Nathan,
Speaker 1: GEO politics is also front and Center. This morning, Chinese
Speaker 1: President Hijin Ping and Russian President Vladimir Huton meet today
Speaker 1: for the first time since Russia's invasion of Ukraine. Surely
Speaker 1: before the war that you bound to have no forbidden
Speaker 1: areas of cooperation, but Beijing has stopped short of sending
Speaker 1: military supplies or financial support. And futures this morning are
Speaker 1: on the rise. S ANDP futures up about six points down,
Speaker 1: futures up fifty nine, and nazdeg futures are a little change.
Speaker 1: So we're starting to see some strength there in the
Speaker 1: futures market. Ten year treasury down nine thirty seconds. He
Speaker 1: Hall three point four or three percent straight ahead, relatest
Speaker 1: local headlines plus a check of sports, and this is Bloomberg.
Speaker 1: Thanks on Wall Street, sixty seven degrees in Central Park,
Speaker 1: problems piling up on the North Founder Jersey Turnpike, truck planes.
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Michael Nathan, thank you very much.
Speaker 1: At one time, Aye to former New York Governor Andrew
Speaker 1: Cuomo sued him saying he's sexually harassed her and then
Speaker 1: smeared her reputation after she became the second woman to
Speaker 1: publicly accused him of misconduct. CHARLTT Bennett's lawsuit, filed in
Speaker 1: the Federal Court in New York City, repeats many of
Speaker 1: the allegations she has talked about publicly. She said the
Speaker 1: governor subjected her to unwanted advances. Ukrainians president made a
Speaker 1: rare foray outside the capitol to assess the damage in
Speaker 1: cities once again in Ukrainian control for vladimir'sz Lensky says,
Speaker 1: after almost six months under Russian occupation, Isium was left
Speaker 1: largely devastated. The view is where he's shocking, but it's
Speaker 1: not shocked for me because we began to see the
Speaker 1: same pictures from Bucha from the first occupied it Teractors
Speaker 1: destroyed buildings, killed people. President Zelenski says, so far, prosecutors
Speaker 1: have found six bodies with traces of torture in recently
Speaker 1: retaken Kharki regions in the villages. Chinese President Shi Jingping,
Speaker 1: Russia's Vladimir Putin, and leaders from India and Central Asian
Speaker 1: nations are headed to Uzbekistan for a summit of a
Speaker 1: security group seen by Beijing and Moscow as a counterwey
Speaker 1: to US influence. Prosecutors in Chicago say singer R. Kelly
Speaker 1: could receive an additional ten to ninety years behind bars
Speaker 1: after a jury convicted him of producing child pornography and
Speaker 1: enticing girls for sex outside the court room. Kelly's attorney,
Speaker 1: Jennifer boon Jean, said prosecutors overreached after the documentary Surviving R.
Speaker 1: Kelly sparked the public outcry. The government wanted to um,
Speaker 1: as I said during my closing arguments, be um greedy um.
Speaker 1: And they charged counts they couldn't win and that they
Speaker 1: shouldn't have. Kelly's attorney, Jennifer bong Jeen. The verdict comes
Speaker 1: months after a federal judge in New York sentence Kelly
Speaker 1: to thirty years in prison for racketeering and sex trafficking.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael
Speaker 1: Barr and this is Bloomberg, Nathan, thank Michael on Wall
Speaker 1: Street time for the Bloomberg Sports Update, which on Stash.
Speaker 1: All right, neither of the Mets don't win the n
Speaker 1: L East. They might look back at this recent stretch.
Speaker 1: Unable to take advantage of playing teams they should be
Speaker 1: able to beat. Swept at home by the Cubs, who
Speaker 1: outscored the Mets in the three game series fifteen to five.
Speaker 1: It was six to three last night it was six
Speaker 1: nothing in the first guning is David Peterson got lit up.
Speaker 1: Metsos the Pirates. Tonight they lead Atlanta by a half game,
Speaker 1: as the Braves have lost four out of five. Yankees
Speaker 1: and Red Sox scoreless. Fifth inning in Boston, Yanks had
Speaker 1: two on Labor Torres at the plate. Labor lines another
Speaker 1: basi to right field, rounding third is six. Here comes
Speaker 1: a throw home. It is not in time, and they
Speaker 1: have all the balls from the right field scoring is Judge.
Speaker 1: All the way to third is Clabor. He round start
Speaker 1: not coming home. The thrower is not in god. Torres
Speaker 1: circled the basis. Two more Boston errors led to a
Speaker 1: Yankee run of the ninth Yanks beat the Socks five
Speaker 1: to three. In Esther cortege sharp and five inning's got
Speaker 1: his tenth win. Clark Schmidt followed him. He threw two
Speaker 1: perfect frames of relief. Yanks off Tonight they played tomorrow
Speaker 1: in Milwaukee. The two teams behind the Yankees met Toronto
Speaker 1: Bee Tampa Bay. Career home run number one hundred for
Speaker 1: Vladimir Guerrero at age twenty three. I went for the
Speaker 1: Cardinals and a record, said Adam Wayne right on the Mountain.
Speaker 1: Yadier Molina was his catcher for the three d time.
Speaker 1: That's the most ever. Chargers in Chiefs kickoff Week two
Speaker 1: tonight in Kansas City. The Giants Sunday host Carolina will
Speaker 1: see if white out Kadarius Tony gets more plain time.
Speaker 1: Last year's top draft pick, only on the field last
Speaker 1: week for seven snaps. Asked about it, Tony said, I
Speaker 1: get paid to play, not coach. Jet Sunday visn't Cleveland.
Speaker 1: Joe Flacco will again be the quarterback, though Zack Wilson
Speaker 1: is now backpracticing. John Stashward Bloomberg Sports Nathan Thank you
Speaker 1: John thirty seven on Wall Street time for the Tri
Speaker 1: State Business Report. Here's Bloomberg's at Corty. The US has
Speaker 1: recovered all of the jobs that lost during the pandemic,
Speaker 1: but New York City is still missing one hundred seventies
Speaker 1: six thousand. The Times reports job growth slowed this summer
Speaker 1: and sectors like hotels and restaurants. Compared with a year ago,
Speaker 1: Businesses in technology, healthcare, and finance increased employment at a
Speaker 1: faster pace. A union election at an Amazon facility and
Speaker 1: up state New York has been scheduled for October, setting
Speaker 1: up another company showdown with workers trying to build on
Speaker 1: a landmark union victory this year. The vote at the
Speaker 1: facility near Albany is set to be held in person
Speaker 1: between October twelfth and October sevente Hilton has tapped a
Speaker 1: major development project in Times Square to build a boutique
Speaker 1: hotel brand, while Three Journal says the hotel will be
Speaker 1: the first under the new tempo by Hilton flag. It's
Speaker 1: part of the t SX Broadway at two an a
Speaker 1: half billion dollar tower. At your Bloomberg Trying to day
Speaker 1: business report, I'm Ed Corey. Thanks that it's five thirty
Speaker 1: eight on Wall Street. Bloomberg Radio is on the air
Speaker 1: from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I'm Steve Potas Content and
Speaker 1: Wins in New York. We're talking about Barney's New York
Speaker 1: being brought back to life in the form of a
Speaker 1: beauty and wellness brand. Um Corney Danahoe on who Who
Speaker 1: in Fort Wayne now Coha says that's getting squeets by
Speaker 1: lower lunum prices. I'm Gina Serretti and for w W
Speaker 1: VDUM in Chicago, I'm talking about a new report showing
Speaker 1: that homes in and around Chicago, then New York City,
Speaker 1: are most vulnerable to price drops in a potential economic downturn.
Speaker 1: Alisa Mateo and kyw in Philadelphia, I'll be reporting on
Speaker 1: why Amazon shoppers we'll be getting more spam emails. I'm
Speaker 1: Caroline head Kilm Blue may Dab Distols, and we've been
Speaker 1: reporting on the government considering lifting the cape on bankers bonuses.
Speaker 1: I'm Ed Corey on w W Jane Detroit. I'm reporting
Speaker 1: Lear both of my general motors with bart for its
Speaker 1: Olvium battery platform. And those are some of the stories
Speaker 1: our tyred Bloomberg journalists and analysts working on this morning
Speaker 1: around the world. It's five thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial
Speaker 1: was written by the Bloomberg Editorial Board. A modern currency
Speaker 1: must meet the needs of a modern economy, Yet in
Speaker 1: an important way, the US dollar is in danger of
Speaker 1: falling behind. In recent decades, countries from the UK to
Speaker 1: China have introduced payment systems enabling people to transact instantly
Speaker 1: directly from their bank accounts at extremely low cost. The
Speaker 1: transition to real time payments has already boosted global economic
Speaker 1: output by tens of billions of dollars a year, but
Speaker 1: in the US, fewer than one percent of all transactions
Speaker 1: settle in real time. To its credit, the Federal Reserve
Speaker 1: is trying to address at least part of the problem,
Speaker 1: but more needs to be done. The next iteration of
Speaker 1: money has the potential to benefit billions. The U s
Speaker 1: should not let itself get left behind. Mind. This editorial
Speaker 1: was written by the Bloomberg Editorial Board. For more Bloomberg opinion,
Speaker 1: please go to Bloomberg dot com, slash opinion or opie
Speaker 1: I am go on the Bloomberg terminal. This has been
Speaker 1: Bloomberg Opinion. Listen for Bloomberg opinion editorials every week at
Speaker 1: this time. Terminal customers can read more at O. P
Speaker 1: I N go Bloomberg eleven three oh weather sunny, mid
Speaker 1: seventies today, upper seventies in the sunshine tomorrow. We'll keep
Speaker 1: it sunny, low eighties by Saturday, bringing some clouds von
Speaker 1: Sunday with a high near eighty five. Right now sixty
Speaker 1: seven in Central Park markets. Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quicktape. This is a Bloomberg
Speaker 1: business flash and I'm teraren Moscow and futures are starting
Speaker 1: to show some strength this morning. This is investors await
Speaker 1: the latest batch of economic data mat expectations of large
Speaker 1: interest rate hikes by the Federal Reserve. Check the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg. Right now,
Speaker 1: S and P futures are up eight points now, futures
Speaker 1: of seventy one and NASDAGG futures are up thirteen. The
Speaker 1: decks in Germany is up for tenths of a percent.
Speaker 1: The ten year treasury is down eight thirty seconds, you know,
Speaker 1: three point four or three percent, and they yield on
Speaker 1: the two year three point eight one percent. Dimex screwed
Speaker 1: oil is down sixtensive a percent on fifty one cents
Speaker 1: at eighty seven dollars, five cents of Barrel Comic School
Speaker 1: down seven tenths percent or eleven dollars thirtyes cents at
Speaker 1: sixteen ninety seven eighty announced. The euro point against the
Speaker 1: dollar British found one point one five one four and
Speaker 1: the en at one three point three three and Bitcoin
Speaker 1: this morning is up one percent at twenty thousand, one
Speaker 1: hundred fifty dollars. That's a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world.
Speaker 1: Michael Karen, thank you very much. President Joe Biden says
Speaker 1: a tenetive railway labor agreement has been read, diverting a
Speaker 1: potentially devastating strike before the pivotal midterm elections. Biden said
Speaker 1: in a statement this morning that the Tenetive deal will
Speaker 1: keep our critical rail system working and avoid disruption of
Speaker 1: our economy. Biden says the rail workers will get better pay,
Speaker 1: improved working conditions, and peace of mind around their healthcare costs.
Speaker 1: In London, the public continues to pay their respects to
Speaker 1: the late Queen Elizabeth as she lies in state in
Speaker 1: Westminster home authorities estimate the line to enter the building
Speaker 1: stretches two point six miles. In baseball, the Yankees be
Speaker 1: the Red Sox five three, The Mets lost, The Orioles
Speaker 1: beat the National six two. The A's and Giants won.
Speaker 1: Global news twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than hundred journalists and
Speaker 1: analysts more than a hundred twenty countries. Him Michael Barr,
Speaker 1: and this is Bloomberg, Nathan, Michael, thank you. It's five
Speaker 1: forty nine on Wall Street Life from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg Daybreak. And it may be
Speaker 1: crisis averted for a major piece of the US supply
Speaker 1: chain with that tentative agreement just announced this morning between
Speaker 1: freight rail operators and their union's Bloomberg Radio and TV
Speaker 1: Markets correspondent Pretty Gupta is with us live this morning
Speaker 1: from the Greenville Yard in Jersey City, New Jersey, a
Speaker 1: major point in that supply chain between the ports and
Speaker 1: the rails. Pretty good morning. You see any signs of
Speaker 1: renewed activity now that we've heard this news this morning, Well,
Speaker 1: good morning, Nathan. You know what's interesting here is that
Speaker 1: in preparation of a potential strike. So much with halted,
Speaker 1: you had something like I believe auto shipments or were
Speaker 1: already paused. I mean, as we were coming in towards
Speaker 1: Greenville Yard, we saw trailers and shrucks full of just
Speaker 1: new vehicles just standing on the sidelines. Think about it,
Speaker 1: if you have a new car manufactured in Detroit or
Speaker 1: manufactured in Mexico that has done shipped or I should
Speaker 1: say transported, be afraid, because that is the most efficient
Speaker 1: way across the country to the dealerships will be people
Speaker 1: can actually buy it. Another example, if hazard as materials,
Speaker 1: for example, we're halted, think of ethanol seventy percent of
Speaker 1: which in this country is shipped by freight, So ethanol
Speaker 1: things that are extremely flammable if left by themselves. Um on,
Speaker 1: say an idle car, which was the threat if indeed
Speaker 1: the strike goes through, those kind of things were put
Speaker 1: on pause. And on top of that, Amtrack even canceling
Speaker 1: their long distance flights. So right network train trips, I
Speaker 1: should say, Nathant. Right now, there isn't going to be
Speaker 1: an immediate effect. Right now you are still seeing, uh,
Speaker 1: the normal things you would see in a rail art
Speaker 1: Essentially rail cars being filled, being transported, but not necessarily moving.
Speaker 1: And that's what we're waiting to hear. And once again
Speaker 1: I should really emphasize this feel is still tentative. It
Speaker 1: is not officially yet. Well, what are you hearing about
Speaker 1: the deal at this point? What were the sticking points
Speaker 1: between the union workers and the freight rail companies. What
Speaker 1: were the union workers looking for. You know, at the
Speaker 1: end of the day that everyone is looking for a
Speaker 1: higher salary, but for railroad workers it was different. They
Speaker 1: are coming from a life of long hours. They're coming
Speaker 1: from a legacy where COVID has has meant that a
Speaker 1: lot of their industry has actually left working in railroads.
Speaker 1: What's important to note here is that their biggest issue
Speaker 1: was getting sickly, but was getting medically even during the pandemic.
Speaker 1: A lot of these railroads have implemented a point based system. Essentially,
Speaker 1: you are on call. If we call you, you have
Speaker 1: ninety minutes to two hours to report to work, and
Speaker 1: if you don't, you will be penalized, you will be
Speaker 1: deducted in some way. That kind of policy is what
Speaker 1: these workers were potentially striking against, in addition to of
Speaker 1: course higher pay. Now some of the new details we
Speaker 1: are getting in terms of what the contract. This agreement
Speaker 1: actually looks like includes a twenty four percent wage increase
Speaker 1: during the five year period from twenty twenty through four.
Speaker 1: So that does mean back pay going into the COVID
Speaker 1: era as well as an immediate payout of an average
Speaker 1: of eleven thousand dollars upon the ratification of the deal.
Speaker 1: What that means, I think this is the new change
Speaker 1: in the language, Nathan, is that if this deal is
Speaker 1: indeed approved, those workers get eleven thousand dollars on average
Speaker 1: right off the bat. So in our last thirty seconds here, Crety,
Speaker 1: what are you looking for next? Now that we do
Speaker 1: have this tentative agreement announced, well, we are still waiting
Speaker 1: for the union membership. Though they have to approve it,
Speaker 1: they have to agree with it. I mean, look, they
Speaker 1: had tentstive agreements for Ford History rail strike and they
Speaker 1: have still ended up going on strike. So really it's
Speaker 1: it's anyone's same here, all right, Bloomberg Radio and TV
Speaker 1: Markets correspondent Credy Group to keeping on top of any
Speaker 1: further developments. Now that we do have this tentative agreement
Speaker 1: reached between the unions and the freight rail operators as
Speaker 1: a creaty rightly noted. They're the union workers themselves are
Speaker 1: going to have to ratify this thing. So we'll be
Speaker 1: staying on top of it for you ahead of that
Speaker 1: midnight strike deadline. Keep it right here on Bloomberg Radio.
Speaker 1: Karen Well, Nathan, it is five fifty two on Wall Street.
Speaker 1: It's time for the Bloomberg Law Report. Browns to you buy.
Speaker 1: American Arbitration Association business disputes are inevitable result fester with
Speaker 1: the American Arbitration Association, the global leader in alternative dispute
Speaker 1: resolution for over ninety years. More at a d R
Speaker 1: dot org. Let's get to the legal stories we're watching
Speaker 1: this morning. From Bloomberg's Jeff Bellinger. The Occupational Safety and
Speaker 1: Health Administration is looking at new helmet designs to replace
Speaker 1: the traditional hardheads worn at job sites by its inspectors.
Speaker 1: The sporting events video streamer Flow Sports is facing a
Speaker 1: class lawsuit. Plaintiffs accused the company of sharing subscribers personal
Speaker 1: information with Facebook without their consent. Wegman's Food Markets is
Speaker 1: accused of infringing on an Israeli firms technology for distributing
Speaker 1: coupons via its mobile at Bloomberg Law. Everything you need,
Speaker 1: all on one legal research platform, including guidance analysis and
Speaker 1: Bloomberg market Intelligence. Find out more at Bloomberg Law dot com.
Speaker 1: All right, Jeff, thanks, Now, another legal story we're watching.
Speaker 1: Trevor Milton, the founder of the automaker Nicola, went on
Speaker 1: trial this week on charges that he lied to investors
Speaker 1: about his startup company's ability to produce trucks that run
Speaker 1: on electricity or hydrogen fuel cells and duped them into
Speaker 1: buying Nicolas stock. First witness, the former Nicola contractor whose
Speaker 1: allegations are fraud at the company helped spur a criminal investigation,
Speaker 1: made a startling admission to the jury yesterday admitting he
Speaker 1: made six hundred thousand dollars off a short seller's report
Speaker 1: on Nicola. For more, Bloomberg's during grounds speaks to Bloomberg's
Speaker 1: at the Ludlow who's covering the trial. Is the defense
Speaker 1: hanging its case on materiality, saying that Milton's statements weren't
Speaker 1: material to investors decisions to buy the stock, or is
Speaker 1: there another thread to their defense? What the defense has
Speaker 1: argued in opening statement is that the government's case is
Speaker 1: complete distortion. For one that they're trying to make Milton
Speaker 1: out to be a criminal with a sinister agenda to defraud.
Speaker 1: What they will argue is interesting that he genuinely believed
Speaker 1: in what he was doinging that his goals were genuine.
Speaker 1: The other part of it is that the defense, in
Speaker 1: its early arguments basically say this is the CEO's job
Speaker 1: right to market the company, to talk it up, to
Speaker 1: get its name out there, and help it on its
Speaker 1: way to achieve its ultimate goal. There's also gonna be
Speaker 1: a debate here around linguistics. What does the word prototype mean,
Speaker 1: what does the word timeline and manufacturing or develop actually mean?
Speaker 1: And we believe the defense will poke holes at the
Speaker 1: prosecution's argument about the meaning of what it was that
Speaker 1: Milton said. Tell us about the first witness who made
Speaker 1: a startling admission during the cross examination. Paul Lackey was
Speaker 1: a contract engineer that worked with and for Milton in
Speaker 1: ten developing the early prototype of the Nicola one, which
Speaker 1: was the first iteration of Nicholas truck. He gave testimony
Speaker 1: that Milton, at a launch event in December two thousand sixteen,
Speaker 1: made misread presentations about the truck's capabilities but also the
Speaker 1: status of the truck. According to the witness, it was
Speaker 1: missing all of the key components that would have made
Speaker 1: it capable of functioning anyway. Now here's the key part.
Speaker 1: The witness told the jury that he received six hundred
Speaker 1: thousand U S. Dollars in compensation, effectively from a short seller,
Speaker 1: Hindenburg Research. Hindenburg Research published its short report on Nikola
Speaker 1: in September of twenty which hit the company's stock and
Speaker 1: ultimately was another catalyst in the chain of events which
Speaker 1: led to Milton's first resigning and then being indicted. And
Speaker 1: the defense put questions to him about his knowledge of
Speaker 1: what happened with Nikola after six and he said, of
Speaker 1: course he didn't have any because he no longer worked
Speaker 1: with the company. They also, on the issue of the
Speaker 1: six hundred thousand dollars, asked questions about his motivation, whether
Speaker 1: he was motivated to speak out against Nikola for money.
Speaker 1: So it will be interesting to see where that witness
Speaker 1: his testimony land tape with the jury. And that's Bloomberg's
Speaker 1: Ed Ludlow speaking at the Bloomberg's John Garrosso. Catch more
Speaker 1: of that interview plus analysis of the latest illegal news
Speaker 1: by subscribing to the Bloomberg Law Podcast or downloading this
Speaker 1: show at Bloomberg dot com, Slash podcast, and attorneys can
Speaker 1: find exceptional legal research and business development tools at Bloomberg
Speaker 1: Law dot com and on the Bloomberg terminal at b
Speaker 1: law Go. And futures this morning, they're showing a little
Speaker 1: more strength. SMP futures up six points down, futures of
Speaker 1: fifty six, nastay futures they're a little changed right now.
Speaker 1: And ten year treasuries down nine third day seconds, you know,
Speaker 1: three point four four per cent. So ahead on Bloomberg
Speaker 1: day Break and check on the business headlines and all
Speaker 1: the news you need to start your day, including that
Speaker 1: tentative pack between the US railroads and their unions. And
Speaker 1: this is Bloomberg