Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg
Speaker 1: Day Bright for Wednesday, September four two. Coming up this hour,
Speaker 1: futures rise following the worst day for stocks in two years,
Speaker 1: positive inflation data in the UK as prices slipped from
Speaker 1: forty year highs in London, Queen Elizabeth's coffin makes its
Speaker 1: way to Buckingham Palace, and a rail strike in the
Speaker 1: US threatens to halt shipments of farm products and autos.
Speaker 1: Former New York Governor Cuomo files and ethics complain against
Speaker 1: the a G BLUs Ukrainian troops keep up the pressure
Speaker 1: on fleeing Russian forces. I'm Michael blarn More and I'm
Speaker 1: John Steward's fourth Another big night for Aaron Judge. Two
Speaker 1: arm runs in the Yankee win over the Red Sox.
Speaker 1: The Mets lost again to the cold. That's all straight
Speaker 1: ahead on Bloomberg Day Break on Bloomberg Eliven Frio, New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston,
Speaker 1: Bloomberg nine sixty, Francisco, Syrius x M one nineteen and
Speaker 1: around the world on Bloomberg Radio dot Com and via
Speaker 1: the Bloomberg Business Act and Good morning. I'm Karen Moscow,
Speaker 1: I'm Nathan Hagar. Bloomberg Daybreak is brought to you by
Speaker 1: B and Y Melon's Pershing learned why the world's most
Speaker 1: sophisticated wealth management and institutional firms rely on Pershing to
Speaker 1: help them improve profitability, create efficiency, attract talent and manager
Speaker 1: risk at Pershing, dot Com and US futures are higher
Speaker 1: this morning six oh one on Wall Street. We checked
Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberg,
Speaker 1: SNP futures up nineteen points and down, futures of A
Speaker 1: hundred twelve NASDACK futures up sixties seven and the ten
Speaker 1: year treasury down seven thirty seconds. You have three point
Speaker 1: four or three percent, and they yield on the two
Speaker 1: year three point seven seven percent. Nathan Karen's stocks are
Speaker 1: coming off their worst day since twenty twenty. The SNP
Speaker 1: five hundred dropped four point three percent, while the NASTAC
Speaker 1: plunged more than five percent. It was all fueled by
Speaker 1: hotter than expected inflation data, increasing bets for bigger rate
Speaker 1: hikes from the Fed. Carol Schleiche, his Deputy Chief Investment
Speaker 1: officer at Beimo Family Office. The market desperately wants to
Speaker 1: figure out a bullish tone, and they've been fighting the
Speaker 1: FED all year, and the FED has been unequivocal saying
Speaker 1: we're gonna you know, they communicated pretty clearly that it's
Speaker 1: the three quarters of basis point rise. And I think
Speaker 1: this number took everybody by surprise, but the data has
Speaker 1: been really sloppy month to month. Carol Schlife at Bimo
Speaker 1: Family Office, says next week's FED meeting will be crucial
Speaker 1: for markets. Well. Nathan Masseloff spread to Asia overnight, but
Speaker 1: the price action was more muted than what we saw
Speaker 1: in the US. Japan's NK dropped two point eight percent,
Speaker 1: while Hong Kong's Hang Sang fell two and a half percent.
Speaker 1: They get the recap from Bloomberg's Juliette Sally and Sydney.
Speaker 1: Good morning, Juliette, Good morning, Karen. The yan rallied further
Speaker 1: away from the closely watched a hundred and forty five
Speaker 1: per dollar level after the NICK reported the Bank of
Speaker 1: Japan conducted a so called RT check in the currency market,
Speaker 1: a move considered a precursor for intervention. Officials in South
Speaker 1: Korea also ramped up verbal intervention. Well, China Central Bank
Speaker 1: said the day the reference rate on the one at
Speaker 1: the strongest bias on record. Asian stocks had their biggest
Speaker 1: drop since June Intra Day, with Australian, Chinese, tex Stalks,
Speaker 1: and Japanese es the lagged's in Sydney Juliette Sally Bloomber
Speaker 1: daybreak Our Juliet thanks his inflation and higher rates continued
Speaker 1: away on markets. The FEDS still has a long way
Speaker 1: to go. That's according to legendary investor Mark Mobius, who
Speaker 1: says the FEDS benchmark interest rate could hit nine. Their
Speaker 1: game plan is to make sure that the interest rate
Speaker 1: is higher than inflation. That's the way they believe the
Speaker 1: way to kill inflation. So you have eight percent CPI,
Speaker 1: that means you have to have nine interest rates. If
Speaker 1: that forecast from Mark Mobius is right, rates would climb
Speaker 1: significantly higher than the current two and a half percent
Speaker 1: target rate. Well, Nathan, the broad based sell off is
Speaker 1: putting more pressure on the FED to keep up aggressive policy.
Speaker 1: But when it comes to politics, President Biden says he's
Speaker 1: not worried about the threat of inflation. The stock market
Speaker 1: doesn't necessarily reflect the state of the economy, as you
Speaker 1: well know, and the comedy is still strong. Unemployment slow,
Speaker 1: jobs are up, Manufacturing is good. So I think it's uh.
Speaker 1: I think we're gonna be fine. Worried about the inflation number.
Speaker 1: Those are no, I'm not. The President spoke after hosting
Speaker 1: a celebration at the White House for the Inflation Reduction Act.
Speaker 1: After those are marks, Bloomberg political contributor Rick Davis says
Speaker 1: Democrats are starting to look out of touch on the economy.
Speaker 1: It's just they cannot get out of their own way.
Speaker 1: This is a ad ready to be made. Every Republican
Speaker 1: is going to have this near quiver and frankly, they
Speaker 1: give back Republicans a message that was starting to dwindle,
Speaker 1: which is, oh my god, we gotta quit talking about inflation.
Speaker 1: Well not now. Rick Davis spoke at their Washington correspondent
Speaker 1: Joe Matthew on Bloomberg Sound on Catch the program week
Speaker 1: days at five pm Eastern on Bloomberg Radio. In the UK,
Speaker 1: there's some slightly positive news on inflation. Karen prices went
Speaker 1: down a bit, easing off the highest rate in four decades.
Speaker 1: Today's consumer price index in the UK rose at an
Speaker 1: annual rate of nine point nine percent, up from ten
Speaker 1: point one in July. The Bank of England meets next week.
Speaker 1: It is expected to raise interest rates either fifty or
Speaker 1: seventy five basis points. But the bigger story in England
Speaker 1: right now, Nathan centers on Queen Elizabeth the Second. Her
Speaker 1: coffin is now at Buckingham Palace as people queue up
Speaker 1: to pay their respect to the Queen, and we go
Speaker 1: to London and get the latest from Bloombergy's un pass.
Speaker 1: Good morning, un Good morning, Karen and Nathan. Queen Elizabeth
Speaker 1: is set to leave bucking Palace today for the very
Speaker 1: last time, departing at two twenty two pm. Her Majesty's
Speaker 1: coffee will be transported by horse drawn gun carriage through
Speaker 1: St James's Park and onto Westminster. Walking behind his mother's
Speaker 1: coffin will be the new King, King Charles the Third,
Speaker 1: followed by other scenior members of the royal family. The
Speaker 1: Queen's coffin will line states in Westminster Hall, the ancient
Speaker 1: heart of the British Parliament, for four days until her
Speaker 1: funeral on Monday. As many as a million people are
Speaker 1: expected to join the line to walk past her caskets
Speaker 1: in London. I'm yourn part Splin by daybreak, thanks you,
Speaker 1: and geo politics is also in focus this morning. President
Speaker 1: she Jin Ping is making his first trip outside China
Speaker 1: in more than two years. It gives him a chance
Speaker 1: to beat Vladimir Putin in person for the first time
Speaker 1: since Russia began its invasion of Ukraine. We get more
Speaker 1: from Bloomberg Stephen Angle in Hong Kong. Obviously, for Putin
Speaker 1: he needs China's support. Perhaps the war, according to many calculations,
Speaker 1: is not going as planned. And for you know, she
Speaker 1: didn Ping he is again steadfastly sticking to this plan
Speaker 1: of decentralizing Western institutions and creating a narrative from a
Speaker 1: Chinese perspective. Bloomberg Stephen Angle reports she and Putin meet
Speaker 1: tomorrow in Uzbekistan on the sidelines of a security forum.
Speaker 1: First President She is in Kazakhstan today and Nathan back
Speaker 1: here in the U s a big labor fight is
Speaker 1: making headlines. A threatened strike could prevent American railroads from
Speaker 1: transporting farm products and other key goods as soon as
Speaker 1: tomorrow and could cost the US economy two billion dollars
Speaker 1: a day. President Inviting is personally trying to break the
Speaker 1: long jam between railroads and labor unions. Labor Secretary Murty
Speaker 1: Walsh will meet with Railroad and you and representatives today.
Speaker 1: Futures are moving higher. Care and S and P futures
Speaker 1: up nineteen points, STOW futures up a hundred ten, NASTEC
Speaker 1: futures up sixty five points. The tenure treasuries down seven
Speaker 1: thirty seconds, the yield three point for three, nim X
Speaker 1: screwed up four ten percent. At eighty seven sixty seven
Speaker 1: of Barrel. Local headlines in the check of Sports. Next,
Speaker 1: this is Bloomberg. It is uh six oh seven on
Speaker 1: Wall Street, sixty four degrees in Central Park. Got an
Speaker 1: accident at westbound l I E at Maurice Avenue. We're
Speaker 1: coming up in traffic. First, Michael Barr with what else
Speaker 1: is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Former New York Governor
Speaker 1: Andrew Cuomo filed an ethics complain against State Attorney General
Speaker 1: Letitia James about the way she handled a sexual harassment
Speaker 1: investigation that led to his resignation last year. Cuomo questioned
Speaker 1: the accuracy and credibility of the investigations findings allegend James,
Speaker 1: the fellow Democrat, used the probe to turnish him. Cuomo
Speaker 1: says James, who briefly ran for governor, had her own
Speaker 1: politically mode ofvate it and self interest driven agenda. Rhode
Speaker 1: Island Governor Dan McKee won Tuesday's Democratic gubernatorial primary. He
Speaker 1: thanks supporters to stand here before you tonight, not just
Speaker 1: as your governor, but as the Democratic nomination nominee for
Speaker 1: governor of Rhode Island. Governor McKee at the most with
Speaker 1: thirty three percent. In the fall, McKee will face Republican
Speaker 1: Ashley Kellis, who got eight In New Hampshire. The Republican
Speaker 1: contest for Senate remains a tight race between conservative Donald
Speaker 1: Buldock and the more moderate Chuck Morrise. Republicans see Democratic
Speaker 1: incumbent Senator Maggie Hassan as beatable in the general election.
Speaker 1: The final primaries two were also held in Delaware. The
Speaker 1: Mayor of Boston this thanking law enforcement for a speedy
Speaker 1: response last night after a package exploded on the campus
Speaker 1: of Northeastern University, injuring a staff member. The forty five
Speaker 1: year old man suffered minor injuries to his hand and
Speaker 1: was taken to a local hospital their Michelle Woo, I
Speaker 1: just want to thank all of our first responders for
Speaker 1: very very swift, coordinated and effective response within minutes, our
Speaker 1: police department and E M S and Fire department. We're here.
Speaker 1: Mayor wo says. A search revealed a second similar package
Speaker 1: that was ultimately rendered safe by the bomb squad. Ukrainian
Speaker 1: troops continue to pressure retreating Russian forces, pressing deeper into
Speaker 1: occupied territory and sending more Kremlin troops fleeing, depending on spokesman,
Speaker 1: Brigadier General Pat Writer on Russia, Clearly they've demonstrated their
Speaker 1: intent to keep fighting uh IN in Ukraine and to
Speaker 1: prolong their illegal occupation. General Writer says the progress by
Speaker 1: the Ukrainians in the field came as no surprise. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Tank, powered by more than seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg, Nathan, Thank you. Michael six O nine
Speaker 1: on Wall Street Time for the Bloomberg Sports Update with
Speaker 1: John stashwar Pathan. Aaron Boone was asked last night to
Speaker 1: describe Aaron Judge's performance in this remarkable season, he said,
Speaker 1: I have run out of adjectives. In Boston, Judge hit
Speaker 1: a solo home run six sitting and tied the game
Speaker 1: at three, and then came up two innings later, one
Speaker 1: long swung on there it goes. Keep the field. It
Speaker 1: is hot. Yous far head has got out of the building.
Speaker 1: Over the high green monster. Over the monster seats out
Speaker 1: on Sir Landsbane. He is phenomenal. The second home run
Speaker 1: of the night for Judge, his fifty seventh of the year,
Speaker 1: and we're all tied at four an the game is
Speaker 1: still four four tenth inning when Glabor Torres delivered a
Speaker 1: three run double. The Red Sox got two back bottle
Speaker 1: the tenth, but Wandy Peralta struck at Raphael Devers and
Speaker 1: the Yanks won seven six. It's the tenth multi home
Speaker 1: run game of the season for Judge. The record is
Speaker 1: eleven Hank Greenberg n thirty eight and with fifty seven homers,
Speaker 1: Judges inching closer to Roger Merris is sixty one at
Speaker 1: City Field. Second straight Mets loss of the low Ley
Speaker 1: Cubs four to one. Rare loss for Jacob de Graham.
Speaker 1: Mets didn't help gaining only four hits in Atlanta won
Speaker 1: five one at San Francisco. The Braids are only a
Speaker 1: half game behind. Mike Trout did not homer for the Angels.
Speaker 1: He was trying to tie the record for the homer
Speaker 1: in eighth straight games. The Twins came up two out
Speaker 1: short of a combined no hitter against Kansas City w
Speaker 1: NBA Playoffs Las Vegas eighty five, Connecticut seventy one. So
Speaker 1: the Aces are up two games to none. They can
Speaker 1: win the w NBA Championship tomorrow night at the Mahigan Sun.
Speaker 1: John stash Award, Bloomberg Sports Okay, John, thank you. SMP
Speaker 1: futures moving higher by twenty one point, staff futures up
Speaker 1: a hundred twenty seven. Nastack futures are higher by seventy
Speaker 1: two points now. The tenure treasury is down seven thirty seconds.
Speaker 1: The yield three point for three percent yield on the
Speaker 1: two year three point seven seven percent. Context on this
Speaker 1: market after yesterday's hotter than expected inflation, Sam stoveall of
Speaker 1: cfr A with US next Bloomberg eleven three oh Weather
Speaker 1: mostly sunny, turning less humid today with highs in the
Speaker 1: low eighties. Abundant sunshine tomorrow upper seventies, sunny upper seventies
Speaker 1: for Friday as well. Right now sixty four under a
Speaker 1: clear sky in Central Park. Markets. Headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com and
Speaker 1: Bloomberg Business at and at Bloomberg Quick Tape. This is
Speaker 1: a Bloomberg Business Flash and I'm Cameron Moscow. US stock
Speaker 1: index futures set to recoup some of the losses brought
Speaker 1: on by a hotter than expected inflation or fourth that
Speaker 1: wiped out more than one and a half trillion dollars
Speaker 1: from the SNP five hundred nearly are racing a four
Speaker 1: day rally. We checked the markets every fifteen minutes throughout
Speaker 1: the trading day. On Bloomberg, SNP future is up twenty
Speaker 1: two points this morning. Dal futures of a hundred thirty two,
Speaker 1: Nashtack futures up seventy six, and the jacks in Germany's
Speaker 1: down three tenths of uppercent ten. Your treasury down six
Speaker 1: thirty seconds. You have three point four three percent they
Speaker 1: yield on the two year three point seven seven percent.
Speaker 1: NIMEX Scrude oil is up a third of percent, or
Speaker 1: twenty nine cents at eighty seven dollar sixty cents in
Speaker 1: barrel Comic School, down a tenth of a percent on
Speaker 1: a dollar eighty at seventeen fifteen sixty announced the euro
Speaker 1: one point zero zero one eight against the dollar, British
Speaker 1: found one point one five six three and again one
Speaker 1: forty three point one three and Bitcoin this morning is
Speaker 1: up seven tenths percent at twenty thousand and three hundred
Speaker 1: seventy dollars. As a Bloomberg Business flash, Now here's Michael
Speaker 1: Barr with Moore on what's going on around the world.
Speaker 1: Michael Karen, thank you very much. Queen Elizabeth, the seconds
Speaker 1: Coffin has arrived at Buckingham Palace ahead of today's procession
Speaker 1: through London to Westminster Hall. She reily in state for
Speaker 1: four days until her funeral. The final primaries for this
Speaker 1: year are over. Rhode Island Democrat Dan McKee now has
Speaker 1: the chance to be elected to his first full term
Speaker 1: as governor. McKee assumed the states top office a year
Speaker 1: and a half ago after Gina Romando joined the Biden
Speaker 1: administration as Commerce Secretary. McKy got the most with thirty
Speaker 1: three percent. The key is the favorite as he faces
Speaker 1: off against Republican Ashley Kellis. In November. Primaries were also
Speaker 1: held in Delaware and New Hampshire. In baseball, the Yankees
Speaker 1: beat the Red Sox seven, six and ten innings. New
Speaker 1: York's Serin judge at two homers to reach fifty seven.
Speaker 1: The Mets lost, The Orioles beat the Nationals for three.
Speaker 1: The A's and Giants lost. Global Needs twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists and analysts more than
Speaker 1: a hundred twenty countries. Michael lar This is Bloomberg. Nathan Okay, Michael,
Speaker 1: thank you. At his six nineteen on Wall Street Live
Speaker 1: from the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak.
Speaker 1: As we continue to assess the market reaction to yesterday's
Speaker 1: hotter than expected Consumer Price Index. Were joined live this
Speaker 1: morning by Sam Stovall, chief investment strategist at c f
Speaker 1: R A. It's great to speak with you. Sam. Was
Speaker 1: at the right reaction for market to drop four the
Speaker 1: SNP or was it an overreaction? Good morning, Nathan, No,
Speaker 1: I think it was an overreaction. Um. Interesting how when
Speaker 1: you compare the eight point three percent for August with
Speaker 1: the eight five in July and nine one. In a sense,
Speaker 1: the direction is correct, but when you do look at
Speaker 1: the monthly numbers, there were surprises. Um. So I think
Speaker 1: just too many people were leaning to an optimistic print
Speaker 1: from c p I, and as a result, they just
Speaker 1: bailed all at once. So what does this mean for
Speaker 1: the Federal Reserve? We're getting into this debate now about
Speaker 1: whether we're gonna see seventy five basis points again next week,
Speaker 1: whether the Fed could go as high as a hundred.
Speaker 1: What do you think the Fed's gonna do, sam? Um?
Speaker 1: I think they're gonna go seventy basis points in September,
Speaker 1: follow it up with fifty in November, and then right
Speaker 1: now the estimate is in December. Uh. Since Alan Greenspan
Speaker 1: started to offer transparency to FED rate moves, we've never
Speaker 1: had anything higher than seventy five basis points. You have
Speaker 1: to go back to the late nineties, seventies, early eighties. Uh,
Speaker 1: and then we actually had seven times in which the
Speaker 1: FED raised rates by a hundred basis points, but that
Speaker 1: was with the discount rate. What's the precedent for the
Speaker 1: kind of market reaction that we could see to this
Speaker 1: kind of aggressive tightening we're seeing from this Federal Reserve
Speaker 1: and to the persistent inflation that we've been seeing over
Speaker 1: the last several months. Well, first, I think, you know,
Speaker 1: let's talk about inflation. I mean, our expectation is, uh
Speaker 1: that inflation will be coming down. Our belief is will
Speaker 1: probably end up seeing inflation come in around six point
Speaker 1: three percent at the end of this year on headline
Speaker 1: cp I and then dropped to about two point four
Speaker 1: percent by December of three, So the trajectory is still
Speaker 1: favorable in our opinion. The Fed will be pushing rates
Speaker 1: up to about four in Fed funds. Uh. So certainly
Speaker 1: that is a target that has already been or will
Speaker 1: soon be built into share prices. The real question, I
Speaker 1: think will be what kind of erosion will occur in
Speaker 1: earnings estimates? Right now, for all of this year, growth
Speaker 1: is projected at six point nine, but it was eight
Speaker 1: point nine, and for next year up seven four, but
Speaker 1: it was eight point eight. So the real question I
Speaker 1: think is what kind of an effect will happen to
Speaker 1: forward earnings estimates? What is your call for forward earnings estimates?
Speaker 1: How much further erosion could we see this year? Well, Traditionally,
Speaker 1: we have seen an erosion of about one third in
Speaker 1: terms of PE ratios during bear markets. Since World War Two.
Speaker 1: We've pretty much already seen much of that when you
Speaker 1: look to what's happening in the sector area, the market itself.
Speaker 1: You know, we're still trading at a slight premium to
Speaker 1: the long term average for the SMP five hundred, about
Speaker 1: a four percent premium, you know, So we could end
Speaker 1: up seeing that UH seventeen point seven pe uh come
Speaker 1: down to the high fifteens, as we did back in
Speaker 1: June before. I think that the all clear might be
Speaker 1: sounded a last minute here, Sam, with the Fed potentially
Speaker 1: on the gas pressing the gas down on interest rate hikes,
Speaker 1: what's the possibility of recession? Can the Feds still pull
Speaker 1: off a soft landing? Do you think? I think that's
Speaker 1: a pretty big estimate. If if we were to say
Speaker 1: that every time since World War Two that we have
Speaker 1: had a six point six, six point five increase in
Speaker 1: headline cp I, and remember we peeked out at nine
Speaker 1: point one, we have had both a bear market and
Speaker 1: a recession. So the real question is not whether we
Speaker 1: will end up with the recession, but how deep or
Speaker 1: shallow will it become um Our economists right now are
Speaker 1: still pointing to a soft landing, but I still think
Speaker 1: that there is the possibility of at least a mild recession. Alright, Sam,
Speaker 1: as always great to get your thoughts. Looking forward to
Speaker 1: getting more perspective from you on Bloomberg surveillance as well.
Speaker 1: Sam Stovall, chief investment strategist at CFR a with us
Speaker 1: this morning looking ahead to the market open. We are
Speaker 1: seeing a bit of recovery after yesterday's slide. SMP futures
Speaker 1: are up twenty one points. It's a game of about
Speaker 1: a half percent right now. Deal futures are up six
Speaker 1: NASDAC futures higher by seventy five points. The tenure Treasury
Speaker 1: is down six thirty seconds. The three point for three
Speaker 1: percent yield on the two year three point seven seven percent.
Speaker 1: NIMEX crude is moving a bit higher, up four tents percent,
Speaker 1: eighty seven dollars sixty five cents of barrel. The euro
Speaker 1: just around parody at against the dollar at one point
Speaker 1: zero zero. To you, you're listening to Bloomberg daybreak Bloomberg
Speaker 1: eleven three oh weather mostly sunny, less humid today, glow
Speaker 1: eighties abundant sunshine tomorrow for seventies for highs. We'll keep
Speaker 1: it sunny upper seventies for Friday as well. Sixty four
Speaker 1: is the current temperature. Broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York, Bloomberg E Living Freedom to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg one O six one
Speaker 1: does San Francisco, Bloomberg nine sixty to the country, Sirius
Speaker 1: XM Cho one nine ten, and around the globe the
Speaker 1: Bloomberg Business at and Bloomberg Radio dot com. This is
Speaker 1: Bloomberg Daybreak. It is six thirty on Wall Street. Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. We are just
Speaker 1: about three hours away from the open to US trading.
Speaker 1: Time for the five things that you need to notice
Speaker 1: start your day. Brought to you by I b KR.
Speaker 1: Investment Advisers switched to Interactive Brokers for lowest cost global
Speaker 1: trading and turnkey custody solutions, no ticket charges and no
Speaker 1: conflicts of your interests at I b k R dot
Speaker 1: com slash r i a U First US futures higher
Speaker 1: in the wake of yesterday's sell off, which saw the
Speaker 1: s and P five hundred dropped more than four percent,
Speaker 1: and then ASDAC plunge over five Carol's schlife, Deputy Chief
Speaker 1: Investment Officer at BIMO Family Office says, it may be startling,
Speaker 1: but we should keep it in perspective. But I know
Speaker 1: that the down days are scary, but I watch seven
Speaker 1: happened that was pent in a day and the years
Speaker 1: still closed up. Carol's Life at BIMO Family Office says
Speaker 1: next week's FED meeting will be crucial for market sentiment. Well,
Speaker 1: yesterday sell off spread virtually no corner of equity markets. Karen.
Speaker 1: It also cost America's richest billionaires dearly. We get more
Speaker 1: on that from Bloomberg's stug. Prisoner Jeff Bezo suffered the
Speaker 1: biggest hit. Data from the Bloomberg Billionaire's Index show here
Speaker 1: is wealth plunged by nine point eight billion dollars. Elon
Speaker 1: Musk's net worth fell by eight point four billion, and
Speaker 1: the fortunes of Mark Zuckerberg, Larry Page, Sir Gay Brenn,
Speaker 1: and Steve Ballmer all declined by more than four billion dollars.
Speaker 1: In total, the fortunes of America's richest tumbled by ninety
Speaker 1: three billion dollars. You know, just last month the same
Speaker 1: group lost seventy eight billion dollars in a day after
Speaker 1: an eight minute speech from fit Share J Powell in
Speaker 1: New York. I'm Dick Chrisener, Bloomberg Daybreak. All right, Dick,
Speaker 1: thank you. In the UK, there's some slightly positive news
Speaker 1: on inflation. Prices have gone down slightly, easing off the
Speaker 1: highest rate in four decades. Today's Consumer price index rose
Speaker 1: at an annual rate of nine point nine percent. That's
Speaker 1: a drop from ten point one percent in July. The
Speaker 1: bigger story in England right now, Karen centers on Queen
Speaker 1: Elizabeth the Second. Her coffin has arrived at Buckingham Palace
Speaker 1: that will soon be taken to Westminster Hall to lion
Speaker 1: state for four days until her funeral Monday. The Army
Speaker 1: is helping police and London authorities get ready for the event.
Speaker 1: London Mayor City Khan says, it is a massive job.
Speaker 1: We will have almost three hundred world leaders and their
Speaker 1: team's law entorologies out thin else cities ever seen the
Speaker 1: sort of presents are going to see over the next
Speaker 1: few days. If you think about a marathon, carnival, previous
Speaker 1: rule wedings the Olympics. It's all in one. London mayor
Speaker 1: city concepts, rail companies of announced extra services. Thousands of
Speaker 1: mourners head into the city. I'm back here in the US,
Speaker 1: Nathan A threatened strike make his supply chains hard. He
Speaker 1: could prevent railroads from transporting farm products and other key
Speaker 1: goods as soon as tomorrow. That's the five things you
Speaker 1: need to notice start your day. Brought to you by
Speaker 1: Interactive Brokers than Thank you, Karing six thirty three Now
Speaker 1: on Wall Street, sixty four degrees in Central Park. Still
Speaker 1: in with that accident on the westbound l I at
Speaker 1: Maurice Avenue. Details in traffic. First Michael Bart with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Former New York Governor
Speaker 1: Andrew Cuomo filed and ethics complain against State Attorney General
Speaker 1: Letitia James about the way she handled a sexual harassment
Speaker 1: investigation that led to his resignation. Cuomo questioned the accuracy
Speaker 1: and credibility of the investigations findings, allegend James, a fellow Democrat,
Speaker 1: used the probe to tarnish him and further her own
Speaker 1: political interests. Cuomo resigned in August of last year. The
Speaker 1: final primaries for twenty two ended with voters in Republican
Speaker 1: races choosing between moderates and far right candidates. In the
Speaker 1: New Hampshire US House race, former Trump White House Aid
Speaker 1: Caroline Lovett beat out fellow Trump administration official Matt Mowers
Speaker 1: with thirty four point six percent of the vote. She
Speaker 1: will face Democrat Chris Pappis in November. In the race
Speaker 1: for governor of New Hampshire, Democratic nominee Tom Sherman, who
Speaker 1: ran uncontested, will challenge GOP incumbent Kristinnu, who won his
Speaker 1: primary with nearly seventy of the vote. And Rhode Island
Speaker 1: Governor Dan McKee won the Democratic gubernatorial primary. He thanked
Speaker 1: his supporters the world is gonna change tonight for Rhode Island.
Speaker 1: It did for us, and now we're gonna take full avengement.
Speaker 1: Thank you so much. Governor McKee will face Republican Ashley
Speaker 1: call Us in November. Ukrainian forces have shown a remarkable
Speaker 1: ability to take advantage of opportunities that present themselves on
Speaker 1: the battlefield, as according to depending On spokesman, Brigadier General
Speaker 1: pat Ryder, We've seen a number of Russian forces, especially
Speaker 1: in the northeast in the Karkeev region, cross over the
Speaker 1: border back into Russia as they've retreated from the Ukrainian
Speaker 1: counter offensive. General Rider says the abilities demonstrated by the
Speaker 1: Ukrainians in the field came as no surprise. Senator Lindsey
Speaker 1: Graham says he's introducing a bill de ban abortions before
Speaker 1: four months gestination, with a few exceptions. I feel comfortable
Speaker 1: at fifteen weeks the science tells us that the nerve
Speaker 1: endings are developed to the point that the unborn child
Speaker 1: fills pay Senator Graham says the mid term elections will
Speaker 1: probably determine whether his bill comes up for a vote.
Speaker 1: Former into pended Console Ken Starr, who led the investigation
Speaker 1: into Bill Clinton's affair with Monica Lewinsky, has died in Houston.
Speaker 1: He died after complications from surgery. Again star with seventy
Speaker 1: six Global News twenty four hours a day on air
Speaker 1: and on Bloomberg Quick Take, powered by more than twenty
Speaker 1: seven hundred journalist and analysts more than a hundred twenty countries.
Speaker 1: Michael Barr and this is Bloomberg. Nathan, all right, Michael,
Speaker 1: thank you. Just about six thirty six on Wall Street.
Speaker 1: John stash Hour has the Bloomberg Sports Update. All right,
Speaker 1: Nathan Yankees and Red Sox first of a mini two
Speaker 1: game series in Boston. There are a lot of empty seats.
Speaker 1: The Stocks are, after all in the last place. But
Speaker 1: quite a game. Socks had three different leads, Yanks kept
Speaker 1: coming back to tie. Both teams hit three home runs,
Speaker 1: and the game is tied at four tenth and at
Speaker 1: one one line. There is a face at the right
Speaker 1: side of field in the alley will go all the
Speaker 1: way to the wall, kind of full of the scores.
Speaker 1: Judge scores, and the throw home is late three run
Speaker 1: score floor Real scores. It is a facist clear three
Speaker 1: run double w f A and the Socks got two
Speaker 1: back bottom of the tamp. Gangs held on to win
Speaker 1: seven six the Yankee home run from Marwin Gonzalez and
Speaker 1: two solo seans for Aaron George sixth inning off Vic Pavetta.
Speaker 1: That side the game at three, eighth inning off Garrett Whitlock.
Speaker 1: That tide of the game at four. It left Fenway,
Speaker 1: It landed on LANs Down Street, so Judge took a
Speaker 1: big step towards Roger Marris nineteen games left. He's now
Speaker 1: at fifty seven home runs. That's twenty more than anyone
Speaker 1: else in baseball. This was supposed to be the easy
Speaker 1: part of the Mets schedule, but against Washington, Pittsburgh, Miami,
Speaker 1: and now the Cubs, Mets just four and six of
Speaker 1: their last ten games at City Field. They had only
Speaker 1: four hits. They lost four to one. Is Adrian Sampson
Speaker 1: outfits Jacob mc graham and Atlanta won. The Braves are
Speaker 1: only a half game behind two big NFL Week one injuries,
Speaker 1: both perhaps not as serious his fear Dallas QB Dak
Speaker 1: Prescott could be back in a month from his injured hand.
Speaker 1: In Pittsburgh, t J. Watt has a torn peck muscle,
Speaker 1: but he might be returned in six weeks. Denver coach
Speaker 1: Nathaniel Hackett now admits he should not have tried a
Speaker 1: failed game winning sixty four yard few role at the
Speaker 1: end of their loss Monday night in Stata, John Stanard
Speaker 1: Bloomberg Sports Nathan all Right, John thanks sixty seven on
Speaker 1: Wall Street Time to take a look at stocks some
Speaker 1: of the names moving in the pre market. Bloomberg Radio
Speaker 1: and TV Markets correspondent Creaty Gupta is with us this
Speaker 1: morning after the route. Can we call this recovery creaty
Speaker 1: a little bit of pick up on the futures contracts?
Speaker 1: What do you look at this point? Just a touch
Speaker 1: about four tenths of one percent when you're looking at
Speaker 1: SMP five features. I mean, look, yesterday was I believe
Speaker 1: the worst day since going all the way back into
Speaker 1: so um. There is a little bit of I want
Speaker 1: to call it a spring effect. Almost essentially, when you
Speaker 1: have a spring and you push it down really really hard,
Speaker 1: it will have like a little bit of a technical
Speaker 1: bounce back. That being said, one of major stock movers
Speaker 1: this morning is the Starbucks story. S b u X
Speaker 1: is the taker. It's up about two point six percent, Nathan.
Speaker 1: And of course, you know Starbucks has had quite a
Speaker 1: bit of movement in the last I want to say
Speaker 1: a year or so, especially with their new CEO that's
Speaker 1: now incoming. Howard Schulz, who had been the CEO and
Speaker 1: and founders Starbucks for ages had kind of taken that
Speaker 1: role as an interim position and then passed it on.
Speaker 1: I think what's significant here though, is the fact that
Speaker 1: is rising this morning because it raises three year outlook
Speaker 1: for profit and sales. UH that's coming at an annual
Speaker 1: presentation to investors. Of course, it's a big deal. We
Speaker 1: know that their China sales have really been suffering spinecifically
Speaker 1: because of the COVID lockdowns. We know China is also
Speaker 1: one of their major growth markets, so that's really where
Speaker 1: you see of that Starbucks exposure. Analysts though, talking pretty
Speaker 1: positively about the upgrades. They are optimistic on that Starbucks company.
Speaker 1: Jeffreys also finding the new three year targets achievable and
Speaker 1: that is high praise coming from Jeffrey. So that is
Speaker 1: all good news on star on Starbucks. Remember, this is
Speaker 1: still going to be a question of global chains of
Speaker 1: f X as well. The dollar story will impact Starbucks.
Speaker 1: Remember in their last earnings call they warned about the
Speaker 1: f X impact. So, Nathan, that is the stock I
Speaker 1: have my eye on this morning. All right. Well, it's
Speaker 1: interesting because we've been watching coffee prices of themselves as well,
Speaker 1: and they've been hit pretty hard, a big rally in
Speaker 1: UH in some coffee prices on the commodities market. So
Speaker 1: you're also taking a look at Oracle. They just reported
Speaker 1: some pretty solid earnings this week, didn't they They did? Um,
Speaker 1: if I was to make a quick note on Starbucks,
Speaker 1: really quick, because because we brought up you browed commodities
Speaker 1: is really your fault. He browsed the commodities inflation type
Speaker 1: about wage inflation as well as Starbucks dealing with a
Speaker 1: lot of union issues, something to keep its eye on.
Speaker 1: You talked about Oracle though, and that's a very important
Speaker 1: stock to get to remember. Oracles seen as the old
Speaker 1: guard of sorts O R c L when it comes
Speaker 1: to tech investing down about six tenths of one percent.
Speaker 1: It was initiated as a hold over a Barrenberg as
Speaker 1: the broker saw some bowsed opportunities and risks for the
Speaker 1: software fir. Remember Oracle is trying to get their foot
Speaker 1: into cloud services at the moment and trying to get
Speaker 1: more people to adapt kind of their hybrid system. So
Speaker 1: right now it looks like just initiative as a whole
Speaker 1: of Barenburg. Nothing super exciting, but they're not expecting a
Speaker 1: major rerating in the medium term. All right, Boomberg Radio
Speaker 1: on TV Markets correspondent Pretty Gupta always juiced on the caffeine.
Speaker 1: Thanks for being here in the pre market and as
Speaker 1: we take a look at stocks as a whole, Yeah,
Speaker 1: I will call it a bit of recovery. SMP futures
Speaker 1: up seventeen points right now. Now future is up a
Speaker 1: hundred one Nastack futures up fifty eight points ten, Your
Speaker 1: treasuries down seven thirty seconds, yield three point three percent
Speaker 1: and the yield on the two year three point seven
Speaker 1: eight per cent. You're listening to Bloomberg Daybreak Bloomberg eleven
Speaker 1: three oh weather, sunshine, less humid today, low eighties for
Speaker 1: afternoon highs. We'll get into the upper seventies maybe eighty
Speaker 1: tomorrow and Friday with sunshine all around. Right now, sixty
Speaker 1: to Grace in Central Park Markets. Headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, the
Speaker 1: Bloomberg Business at and at Bloomberg Quicktape. This is a
Speaker 1: Bloomberg business blash and I'm fair in Moscow and futures
Speaker 1: are gaining. This morning we got to the first word
Speaker 1: breaking news dance for today's morning call in here. Tatiana,
Speaker 1: Daria Tardiana, good morning, Good morning, Karen. Like you said,
Speaker 1: it's green on the screen this morning after that big
Speaker 1: sell off with the doll features up eighty six points,
Speaker 1: s and piece up sixteen and nas jack up fifty two.
Speaker 1: Treasuries however, remain under pressure, extending glasses for a third session.
Speaker 1: The tenure yield up three basis points through three spot
Speaker 1: forty three percent. Looking process at the dollar is weaker,
Speaker 1: while the Japanese yen is stronger After officials they're suggested
Speaker 1: that they will respond to recent moves back in the US.
Speaker 1: On the economic front, NBA mortgage applications at seven and
Speaker 1: the Producer Price Index at eight thirty. In early trading
Speaker 1: this morning, Starbucks up three percent after raising its three
Speaker 1: or outlook, and Nicollege shares hired by five after an
Speaker 1: upgrade from bt I G. In other news, Google lost
Speaker 1: its bid to toppily record four billion dollar antitrust finding
Speaker 1: Europe and IBM will take a five point nine a
Speaker 1: billion one time pretext charged this quarter due to a
Speaker 1: pension agreement and wrapping things up here here Oracle was
Speaker 1: initiated at hold at Boomberg, Well Novartists and Bristol Myers
Speaker 1: were cut to hold live from the first and Breaking
Speaker 1: news desk. I'm Tatianataria, Karen, alright, Tatiana, thank you, ed
Speaker 1: here lie breaking news of your Bloomberg type squawk on
Speaker 1: your terminal, s U U A W K and that's
Speaker 1: a Bloomberg business flash. Now here's Michael Barr with Moore
Speaker 1: and what's going on around the world. Michael Karen, thank
Speaker 1: you very much. Queen Elizabeth. The seconds coffin will lie
Speaker 1: in state for four days from this afternoon. In London.
Speaker 1: It comes a mid warnings that members of the public
Speaker 1: wishing to attend to pay their respects at Westminster Hall
Speaker 1: could face up to a thirty hour wait. The final
Speaker 1: primaries for twenty two are over. In the New Hampshire
Speaker 1: US House race, former Trump whine now said Caroline Lovett
Speaker 1: beat out fellow Trump administration official Matt mauer Is with
Speaker 1: thirty four point six percent of the vote. She will
Speaker 1: face Democrat Chris Pappas. In November. Rhode Island Democratic Governor
Speaker 1: Dan McKee faces off against Republican Ashley Kellis in the
Speaker 1: full In baseball, the Yankees beat the Red Sox seven
Speaker 1: six and ten innings, New York's Erin Jodge at two
Speaker 1: homers to reach fifty seven the season. The Mets lost,
Speaker 1: the Orioles beat the Nationals for three. The A's and
Speaker 1: Giants lost. Global News twenty four hours a day on
Speaker 1: air and on Bloomberg Quicktake powered by more than twenty
Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: Michael Barr and this is Bloomberg, Karonry, Michael, thank you
Speaker 1: at at sixty nine on Wall Street, and we turned
Speaker 1: to news and science and technology now at the Bloomberg
Speaker 1: and j I t Stem Report, and here's just making
Speaker 1: news in science, technology, engineering, and math. Hong Kong will
Speaker 1: quit moving travelers with COVID to isolation hotels or quarantine camps. Instead,
Speaker 1: they will be allowed to remain in designated quarantine hotels
Speaker 1: and marks, another easing in the city's travel policy. The
Speaker 1: move comes as Hong Kong prepares for several high profile events,
Speaker 1: including a summit for global bankers at an international rugby tournament.
Speaker 1: European Commissioned President Ursula vunder Lyon will call for a
Speaker 1: radic goal steps today to send the energy crisis that
Speaker 1: will edge closer to ratcheting measures and higher taxes on
Speaker 1: energy companies. The key question is whether Vonda Leon's proposal
Speaker 1: for a five percent reduction and gas consumption survives various
Speaker 1: negotiations and with weather disasters costing two hundred million dollars
Speaker 1: a day and irreversible climate catastrophe looming. A new report
Speaker 1: by the United Nations says the world is quote heading
Speaker 1: in the wrong direction. The World Meteorology Meteorological Organization, in
Speaker 1: the latest stark warning about global warming, says weather related
Speaker 1: disasters have increased fivefold over the last fifty years and
Speaker 1: are killing a hundred fifteen per day on average, and
Speaker 1: the fallout is poised to worsen. That's a Bloomberg and
Speaker 1: j I p Stem report. Nathan, all right, Karen, thank you.
Speaker 1: We are live from the Bloomberg Interactive Brokers studios where
Speaker 1: it's just about six fifty one on Wall Street time
Speaker 1: now to check what's going on in BC. Some of
Speaker 1: the top stories in our nation's capital include President Biden
Speaker 1: sank he's not worried about inflation after hotter than expected
Speaker 1: consumer prices for on, the White House considering an emergency
Speaker 1: decree in case of a railroad strike, the Justice Department
Speaker 1: saying former President Trump is undercutting himself and his Mara
Speaker 1: Lago secrets argument, and the Senate to wrestle with a
Speaker 1: bill that would boost US ties with Taiwan, springing Bloomberg
Speaker 1: government reporter Emily Wilkins joining us from the Nation's Capital. Emily.
Speaker 1: So the data didn't go President Biden's way, but when
Speaker 1: it comes to this economy, it sounds like he's at
Speaker 1: least trying to stay on message. Yeah, Nathan, the White
Speaker 1: House central the celebration for the Inflation Reduction Act. Remember
Speaker 1: that was that healthcare, tax and climate bill that passed
Speaker 1: UH back way back in August. But now the lawmakers
Speaker 1: are back in town, the White House has got a
Speaker 1: hold a celebration really say hey, look we did it.
Speaker 1: But of course, on the same day that they're passing
Speaker 1: a bill with the name the Inflation Reduction Act UH,
Speaker 1: inflation for the previous month was reported to be higher
Speaker 1: than it was expected. Consumer price is increased by point
Speaker 1: one percent, for inflation increased by point six percent um.
Speaker 1: I mean. Biden did note that these aren't exactly giant numbers.
Speaker 1: He said he wasn't worried it was only a tenth
Speaker 1: of a percent. But if that inflation continues to be
Speaker 1: the issue that is really defining these mid terms. There
Speaker 1: are a couple other ones, but if you talk with folks,
Speaker 1: the economy just continually comes up as a big thing
Speaker 1: that they're concerned about. And this is really showing that
Speaker 1: for Democrats, it's not like inflation is suddenly going to
Speaker 1: go down ahead of November. They're probably going to have
Speaker 1: to deal with high inflation as they go into the election. Uh.
Speaker 1: And even though they tried to name this bill inflation reduction,
Speaker 1: this isn't something that Americans are seen. And even if
Speaker 1: this bill does reduce this inflation, it's not going to
Speaker 1: happen quickly within the next few weeks. And now we're
Speaker 1: seeing this threat of a nationwide railroad strike, causing the
Speaker 1: potential if it happens to add to price pressures even further.
Speaker 1: What's the White House doing about that? So the White
Speaker 1: House is beginning to prepare for a potential use of
Speaker 1: emergency powers to ensure that critical materials that these railways
Speaker 1: usually transport can still be delivered even if there's a strike.
Speaker 1: They think things like chlorine that are neither for wastewater
Speaker 1: treatment plants. It's something that if they don't get it,
Speaker 1: they're not going to be able to put out water
Speaker 1: that we can all drink. So there's a lot of
Speaker 1: really critical materials here. Also, this goes back to the
Speaker 1: inflation thing. If certain materials can't get out, can't get delivered.
Speaker 1: That's going to lower the supply and jack up prices.
Speaker 1: It's really something the White House needs to avoid. They
Speaker 1: have until Friday to come up with an agreement for
Speaker 1: these unions, unless Congress wants to bump that deadline back. Um,
Speaker 1: but at this point, it's both the White House as
Speaker 1: well as UH Congress is trying to prepare for a
Speaker 1: potential strike for what that would mean. UM, it's fairly
Speaker 1: really a big story right now. UH, as far as
Speaker 1: what the implications could be if we hit Friday and
Speaker 1: these two major unions still haven't reached a deal, and
Speaker 1: all this is coming, of course, just less than two
Speaker 1: months before a mid term election. What's the level of
Speaker 1: concern at the White House about whether Democrats are going
Speaker 1: to be able to try to stem any losses against
Speaker 1: Republicans and the control or the fight for control of Congress.
Speaker 1: I mean, certainly, if this robot strike happens, if these
Speaker 1: materials aren't able to get out there, this is going
Speaker 1: to impact Biden and this is going to impact Democrats.
Speaker 1: I mean Biden came into the White House say that
Speaker 1: he was a dealmaker. He is now meaning personally involved
Speaker 1: in these negotiations. A lot really rests on him the
Speaker 1: kind of show that that he can avert this potential
Speaker 1: pricess um. You know, the mid terms, Democrats have gotten
Speaker 1: a little bit of momentum that that that they didn't
Speaker 1: have before, but that could easily be lost if something
Speaker 1: like this occurred. Um, and we see some wide ranging
Speaker 1: impacts on the economy up just because again they could.
Speaker 1: Things are getting delivered when they need to be. All right,
Speaker 1: let's turn to some of our other stories and watched
Speaker 1: in DC. We got this new court filing in the
Speaker 1: Moral Lago investigation, the Justice Department looking into that classified
Speaker 1: material sees from former President Trump's home. What's the latest. Yeah,
Speaker 1: so a lot of back and forth here, but basically,
Speaker 1: what the Justice Department is trying to do is they're
Speaker 1: trying to evince a federal judge to exclude about a
Speaker 1: hundred classified documents from her order halting the Justice Department
Speaker 1: from using the thousands of records, uh, while a special
Speaker 1: Master reviews them. Remember that special master is that third party.
Speaker 1: They're going to review the document with the intention of
Speaker 1: making sure that that all of them do fit what
Speaker 1: the Department of Justice is allowed to have um that
Speaker 1: and that none of them are personal records as Trump
Speaker 1: has claimed. The Department of Justice also kind of tried
Speaker 1: to point out what they see as a bit of
Speaker 1: a flaw in former President Trump's argument about these documents.
Speaker 1: They're saying that if he did declassify them um as
Speaker 1: his personal break hers, then he can't assert executive privilege
Speaker 1: over those records um and the kind of saying that,
Speaker 1: you know, this, this dual argument that that Trump is
Speaker 1: making really doesn't hold water. Again, this is something that
Speaker 1: works seen a lot of back and forth in the
Speaker 1: courts over We saw it over the special Master. Now
Speaker 1: we're seeing what over this special Master is allowed to review.
Speaker 1: Of course, the Justice Department has said that there are
Speaker 1: a lot of security concerns on the line, including national
Speaker 1: security if they cannot review these documents assess what kind
Speaker 1: of information was in mar A Lago and who might
Speaker 1: have had access to that information. Just thirty seconds left here, Emily,
Speaker 1: But tell us more about this Senate bill coming up
Speaker 1: on Taiwan today. Yeah, So this bill is going to
Speaker 1: be having a mark up today in the Foreign Affairs Panel,
Speaker 1: and among other things, would give Taipe a four point
Speaker 1: five billion for defense over four years as well as
Speaker 1: recognized it's democratically elected government as a legitimate representative of
Speaker 1: the people of Taiwan. Uh. This is just continuing what
Speaker 1: we've already seen lawmakers at being very support of of
Speaker 1: Taiwan for both parties, even at the risk of of
Speaker 1: ingreen China and the government in Beijing. Thanks Emily good
Speaker 1: having gone with us. Bloomberg Government reporter Emily Wilkins read
Speaker 1: war at Bloomberg dot com or on the Bloomberg terminal,
Speaker 1: and follow all the latest on Bloomberg Radio in Washington,
Speaker 1: Bloomberg and one oh five point seven FM HD two.
Speaker 1: Right now, SMP futures are hired by seventeen points down,
Speaker 1: futures up a hundred six, Nasdaq futures up sixty one points.
Speaker 1: The tenure Treasury is down seven thirty seconds. The yield
Speaker 1: three point three percent, yield on the two year three
Speaker 1: point seven seven percent. Bloomberg Surveillance is straight ahead with
Speaker 1: Tom Keene, Jonathan Farroll, and Lisa Abramowitz for Karen Moscow.
Speaker 1: I'm Nathan Hagar, and this is Bloomberg