1
00:00:02,880 --> 00:00:06,119
Speaker 1: Live from the Bloomberg Interacted Berger Studios, as is Bloomberg

2
00:00:06,240 --> 00:00:10,320
Speaker 1: day Break for Thursday, January two. Coming up this hour.

3
00:00:10,560 --> 00:00:14,280
Speaker 1: Markets stabilized as the global bond sell off easy, President

4
00:00:14,320 --> 00:00:17,680
Speaker 1: Biden Lawrence Russia may move in on Ukraine. The lighthouse

5
00:00:17,680 --> 00:00:20,360
Speaker 1: push on voting rights collapses in the Senate, and the

6
00:00:20,400 --> 00:00:23,599
Speaker 1: Supreme Court has a defeat to former President Donald Trump.

7
00:00:23,960 --> 00:00:26,400
Speaker 1: New York Mayor Adams says enough is enough after an

8
00:00:26,440 --> 00:00:29,560
Speaker 1: eleven month old child was hit by a stray bullets.

9
00:00:29,640 --> 00:00:32,919
Speaker 1: New Jersey Man dates booster shots for healthcare workers. I'm

10
00:00:32,920 --> 00:00:37,080
Speaker 1: Michael bloom Ahead, John Stasharn, Sports Cayrie every Land the

11
00:00:37,080 --> 00:00:39,559
Speaker 1: next to a win in Washington, another win for the Rangers,

12
00:00:39,560 --> 00:00:44,920
Speaker 1: the Devil's Laws, so did st John. That's all straight

13
00:00:44,920 --> 00:00:49,120
Speaker 1: ahead on Bloomberg day Break on Bloomberg ELEMENTARYO, New York,

14
00:00:49,280 --> 00:00:54,000
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,

15
00:00:54,160 --> 00:00:58,680
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen

16
00:00:59,040 --> 00:01:01,960
Speaker 1: and around the world Lon Bloomberg Radio dot Com and

17
00:01:02,120 --> 00:01:08,720
Speaker 1: via The Bloomberg Business A good morning. I'm Nathan Hagar

18
00:01:09,040 --> 00:01:11,360
Speaker 1: and I'm Karen Moscow. US Future is on the rise

19
00:01:11,480 --> 00:01:13,840
Speaker 1: this morning after yesterday sell off. We're coming up to

20
00:01:13,880 --> 00:01:15,560
Speaker 1: six o one on Wall Street, and we checked the

21
00:01:15,560 --> 00:01:18,520
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg,

22
00:01:18,880 --> 00:01:21,360
Speaker 1: SNP Future is up twenty two points, Staff futures up

23
00:01:21,360 --> 00:01:24,400
Speaker 1: a hundred thirty nine and NASDAG features up one eye.

24
00:01:24,720 --> 00:01:27,920
Speaker 1: The decks in Germany is now little change. Ten year

25
00:01:27,959 --> 00:01:31,000
Speaker 1: treasury up eight thirty seconds, held one point eight three percent,

26
00:01:31,160 --> 00:01:33,840
Speaker 1: yield on the two year one point oh three percent,

27
00:01:34,319 --> 00:01:36,839
Speaker 1: and I Max screwed oil is down three tons percent.

28
00:01:37,000 --> 00:01:40,160
Speaker 1: Nathan karen Us futures are stable for now after the

29
00:01:40,280 --> 00:01:43,880
Speaker 1: NASDAC ended yesterday in correction territory. Let's get more on

30
00:01:43,959 --> 00:01:47,039
Speaker 1: this market action live with Bloomberg's John Tucker, John Nathan.

31
00:01:47,080 --> 00:01:49,720
Speaker 1: The tech heavy NASTAC is now down ten point seven

32
00:01:49,760 --> 00:01:52,920
Speaker 1: percent since its November peak. It fell more than one

33
00:01:52,920 --> 00:01:56,600
Speaker 1: percent yesterday's sashion This morning, the global sovereign bond sell

34
00:01:56,640 --> 00:01:59,720
Speaker 1: off has paused, and that may have ended the slide

35
00:01:59,720 --> 00:02:03,640
Speaker 1: in equities for now. Vot to reserve. Governor Christopher Wallers's

36
00:02:03,640 --> 00:02:06,960
Speaker 1: policy makers are unlikely to opt for a bigger than

37
00:02:07,000 --> 00:02:10,680
Speaker 1: expected rate increase in March. Investor focus has also turned

38
00:02:10,680 --> 00:02:14,480
Speaker 1: to corporate earnings. We've had upbeat earnings results from Morgan Stanley,

39
00:02:14,520 --> 00:02:17,480
Speaker 1: United Health, and Proctor and Gamble. There's still plenty of

40
00:02:17,520 --> 00:02:21,200
Speaker 1: worry though. Strategist at HSBC just cut the recommendation on

41
00:02:21,360 --> 00:02:24,639
Speaker 1: US docks the neutral from overweight. Live in New York,

42
00:02:24,639 --> 00:02:27,600
Speaker 1: I'm John Tucker Bloomberg, debreak. All right, John, thank you.

43
00:02:27,600 --> 00:02:30,519
Speaker 1: He turned to Capitol Hill now for another major story where,

44
00:02:30,560 --> 00:02:34,280
Speaker 1: following President Biden's push for voting rights, legislation has collapsed

45
00:02:34,280 --> 00:02:36,440
Speaker 1: in the Senate, and Amy Morris has the details from

46
00:02:36,440 --> 00:02:40,440
Speaker 1: mar Bloomberg ninety nine one newsroom in Washington. First, Republicans

47
00:02:40,520 --> 00:02:44,320
Speaker 1: used Senate filibuster rules to block the legislation, which includes

48
00:02:44,400 --> 00:02:47,519
Speaker 1: the Freedom to Vote Act and a measure requiring states

49
00:02:47,560 --> 00:02:50,519
Speaker 1: to get pre clearance to change their voting laws. When

50
00:02:50,560 --> 00:02:53,280
Speaker 1: Majority leader Chuck Schumer tried to change the rule to

51
00:02:53,360 --> 00:02:56,639
Speaker 1: allow a simple majority vote, Democrats Joe Manchin and Kirsten

52
00:02:56,720 --> 00:03:00,120
Speaker 1: Cinema voted against it. Earlier, President Biden had said that

53
00:03:00,160 --> 00:03:02,600
Speaker 1: Democrats would likely have to break up the voting rights

54
00:03:02,639 --> 00:03:05,799
Speaker 1: bill and his economic agenda, which is stalled to get

55
00:03:05,840 --> 00:03:08,880
Speaker 1: any of it through Congress. In Washington, I'm Amy Morris

56
00:03:08,919 --> 00:03:11,680
Speaker 1: Bloomberg Daybreak and amy. That voting rights defeat came after

57
00:03:11,760 --> 00:03:14,520
Speaker 1: a wide ranging news conference marking the end of President

58
00:03:14,600 --> 00:03:17,320
Speaker 1: Biden's first year in office. He faced questions on everything

59
00:03:17,320 --> 00:03:20,600
Speaker 1: from the pandemic to his stalled economic agenda and pensions

60
00:03:20,600 --> 00:03:23,320
Speaker 1: with Russia. On many of those issues, the President says

61
00:03:23,320 --> 00:03:27,280
Speaker 1: he's outperformed expectations. I don't think I've overpromised at all,

62
00:03:27,320 --> 00:03:29,600
Speaker 1: and I'm gonna case stay on this track. Still. The

63
00:03:29,600 --> 00:03:32,800
Speaker 1: President did acknowledge Americans are frustrated by the pandemic and

64
00:03:32,960 --> 00:03:35,360
Speaker 1: rising prices. He says it's up to the Federal Reserve

65
00:03:35,440 --> 00:03:38,280
Speaker 1: to get inflation under control. Given the strength of our

66
00:03:38,280 --> 00:03:42,800
Speaker 1: economy and the pace of recent price increases, it's appropriate

67
00:03:43,200 --> 00:03:46,560
Speaker 1: as a Federal Chairman, Chairman Pal, the FED Chairman Paal

68
00:03:46,640 --> 00:03:51,000
Speaker 1: has indicated to recalibrate the support that is now necessary.

69
00:03:51,160 --> 00:03:54,520
Speaker 1: President also says Russia could move in on Ukraine. How

70
00:03:54,560 --> 00:03:57,240
Speaker 1: the US and NATO respond, he says, depends on what

71
00:03:57,360 --> 00:04:01,560
Speaker 1: Russia does one my in you incursion, and then we

72
00:04:01,640 --> 00:04:03,440
Speaker 1: end up having to fight about what to do and

73
00:04:03,520 --> 00:04:06,440
Speaker 1: not do, etcetera. But if they actually do what they're

74
00:04:06,440 --> 00:04:09,120
Speaker 1: capable of doing with the forced amass on the border.

75
00:04:09,600 --> 00:04:12,720
Speaker 1: It is going to be a disaster for Russian After

76
00:04:12,760 --> 00:04:15,200
Speaker 1: the news conference, the White House clarified that any Russian

77
00:04:15,200 --> 00:04:17,760
Speaker 1: troop movement across the Ukrainian border would be met with

78
00:04:17,800 --> 00:04:21,440
Speaker 1: a swift, severe, and united response. Well, Nathan plenty of

79
00:04:21,480 --> 00:04:25,400
Speaker 1: reaction to President Biden's news conference, especially as comments on Russia.

80
00:04:25,480 --> 00:04:29,279
Speaker 1: And here's Bloomberg Politics contributor Rick Davis. When you're dealing

81
00:04:29,279 --> 00:04:32,920
Speaker 1: with foreign policy signals and how clear they are are

82
00:04:33,000 --> 00:04:36,480
Speaker 1: really critical to the outcomes. If Vladimir Putin was watching

83
00:04:36,480 --> 00:04:39,120
Speaker 1: that press conference, I'm thinking he goes back to his

84
00:04:39,160 --> 00:04:41,760
Speaker 1: advisors that, yeah, did he just give me permission to

85
00:04:41,880 --> 00:04:45,279
Speaker 1: roll across the border? And Bloomberg Politics contributor Rick Davis

86
00:04:45,279 --> 00:04:48,640
Speaker 1: spoke with our Washington correspondent Joe Matthew on Bloomberg Sound

87
00:04:48,680 --> 00:04:51,719
Speaker 1: on Catch the program weekdays at five pm Eastern on

88
00:04:51,760 --> 00:04:55,119
Speaker 1: Bloomberg Radio. Let meantime caring at the Supreme Court, former

89
00:04:55,160 --> 00:04:58,200
Speaker 1: President Donald Trump has suffered a defeat. Justice has cleared

90
00:04:58,200 --> 00:05:00,480
Speaker 1: the release of some White House documents related to the

91
00:05:00,600 --> 00:05:04,360
Speaker 1: January sixth insurrection. Bloomberg said Baxter has the story, so

92
00:05:04,400 --> 00:05:06,960
Speaker 1: the documents can be released to the January Sixth House

93
00:05:06,960 --> 00:05:10,880
Speaker 1: Committee investigating the attempt at insurrection of the Capitol. National

94
00:05:11,000 --> 00:05:14,320
Speaker 1: Archives can now turn over about eight hundred pages of material,

95
00:05:14,360 --> 00:05:20,320
Speaker 1: including visitor and call logs, emails, draft speeches, and handwritten notes.

96
00:05:20,720 --> 00:05:23,400
Speaker 1: Trump was trying to override President by his decision to

97
00:05:23,440 --> 00:05:26,920
Speaker 1: way of executive privilege, but the Court decided to side

98
00:05:26,960 --> 00:05:30,839
Speaker 1: with the committee. Clarence Thomas was the only dissent. In

99
00:05:30,960 --> 00:05:33,919
Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak, All right and

100
00:05:33,960 --> 00:05:36,359
Speaker 1: thank you Well. Outside of politics are also focused on

101
00:05:36,400 --> 00:05:39,120
Speaker 1: the controversial rollout of five G. So far, the country

102
00:05:39,200 --> 00:05:42,320
Speaker 1: has avoided major airline disruptions tied to the service, and

103
00:05:42,360 --> 00:05:44,600
Speaker 1: we get the latest life from Bloomberg's ny A Young,

104
00:05:44,640 --> 00:05:46,680
Speaker 1: Good Morning, Ready to good morning, Karen. The f a

105
00:05:46,760 --> 00:05:50,520
Speaker 1: A is clearing about six of the US aviation fleet

106
00:05:50,560 --> 00:05:54,200
Speaker 1: to operate at airports without fear of five G interference,

107
00:05:54,440 --> 00:05:57,359
Speaker 1: and the new safety measures also increased the number of

108
00:05:57,400 --> 00:06:00,840
Speaker 1: airports where flights can safely operate. The agencies list of

109
00:06:00,839 --> 00:06:04,800
Speaker 1: cleared aircraft includes most Boeing and Airbus models, but what

110
00:06:04,920 --> 00:06:06,560
Speaker 1: you won't see on the list are any of the

111
00:06:06,640 --> 00:06:10,120
Speaker 1: regional jet models that perform roughly half of all scheduled

112
00:06:10,160 --> 00:06:13,440
Speaker 1: airline flights now. While the US avoided major disruptions on

113
00:06:13,480 --> 00:06:16,160
Speaker 1: the first official day of five G service, the f

114
00:06:16,320 --> 00:06:19,880
Speaker 1: a A warrants that disruptions to flights are still possible.

115
00:06:20,400 --> 00:06:22,480
Speaker 1: Live in New York, I'm gonna need a young Bloomberg

116
00:06:22,560 --> 00:06:25,040
Speaker 1: day Break, Okay, Nita, Thanks. Let's get back to markets now,

117
00:06:25,040 --> 00:06:27,560
Speaker 1: where the focus is on earnings this week. Up next,

118
00:06:27,640 --> 00:06:30,440
Speaker 1: Netflix reports results after the closing bell. Let's get a

119
00:06:30,480 --> 00:06:33,960
Speaker 1: preview from Bloomberg's Tom Busby. The big focus for investors

120
00:06:33,960 --> 00:06:37,280
Speaker 1: in Netflix's fourth quarter earnings report is subscriber editions in

121
00:06:37,320 --> 00:06:39,599
Speaker 1: the final three months of twenty twenty one and its

122
00:06:39,600 --> 00:06:42,080
Speaker 1: forecast for the current quarter. In light of the price

123
00:06:42,160 --> 00:06:45,479
Speaker 1: Hi Get just announced for U S subscribers. Bloomberg estimates

124
00:06:45,600 --> 00:06:49,040
Speaker 1: eight point three million more global ads last quarters, slightly

125
00:06:49,080 --> 00:06:52,080
Speaker 1: below the streaming giants own prediction of eight point five

126
00:06:52,200 --> 00:06:55,320
Speaker 1: million editions. Revenue forecast to be seven point seven one

127
00:06:55,360 --> 00:06:58,919
Speaker 1: billion dollars, with earnings per share estimated at eighty cents.

128
00:06:58,960 --> 00:07:01,680
Speaker 1: Tom Busby bloom Burg Daybreak. All right, Tom, thank you.

129
00:07:01,680 --> 00:07:04,480
Speaker 1: And big tech also a focus right now on Capitol Hill,

130
00:07:04,520 --> 00:07:07,440
Speaker 1: a tech focused antitrust villain the Senate has been expanded

131
00:07:07,480 --> 00:07:11,000
Speaker 1: to include China's two biggest social media companies. Lawmakers added

132
00:07:11,000 --> 00:07:13,360
Speaker 1: TikTok and we ch Out to the measure after criticism

133
00:07:13,440 --> 00:07:16,960
Speaker 1: the legislation would give an advantage to foreign firms. And

134
00:07:17,200 --> 00:07:24,640
Speaker 1: this is Bloomberg, right, Karen, thanks six o seven on

135
00:07:24,640 --> 00:07:27,200
Speaker 1: Wall Street, rain and forty degrees in Central Park for

136
00:07:27,280 --> 00:07:29,600
Speaker 1: that rain is gonna change over into snow this morning.

137
00:07:29,600 --> 00:07:32,040
Speaker 1: We're under a winter weather advisory and it is slippery

138
00:07:32,080 --> 00:07:34,160
Speaker 1: on the roads. We'll get details on all the accidents

139
00:07:34,200 --> 00:07:37,280
Speaker 1: come up in traffic shortly. First Michael Barr with what

140
00:07:37,360 --> 00:07:39,120
Speaker 1: else is going on in New York and around the world.

141
00:07:39,120 --> 00:07:42,120
Speaker 1: Good morning, Michael, Good morning Nathan. The Dry State area,

142
00:07:42,200 --> 00:07:45,400
Speaker 1: as you mentioned, getting another dose of winter weather Bloomberg.

143
00:07:45,440 --> 00:07:48,280
Speaker 1: Meteor relogious Rob Carolin as the latest, Michael. The National

144
00:07:48,280 --> 00:07:50,720
Speaker 1: Weather Service has a winter weather advisory effect for the

145
00:07:50,720 --> 00:07:52,640
Speaker 1: city in parts in New Jersey this morning. A cool

146
00:07:52,720 --> 00:07:54,760
Speaker 1: front is going to cross the area. That's gonna change

147
00:07:54,760 --> 00:07:56,640
Speaker 1: any rain over to some wet snow. Right now, it

148
00:07:56,640 --> 00:07:59,440
Speaker 1: looks like the accumulations will be limited according to me,

149
00:07:59,560 --> 00:08:01,360
Speaker 1: be as much is two inches, especially across some of

150
00:08:01,360 --> 00:08:04,840
Speaker 1: the higher hilltops in northwestern New Jersey. Precipitation should be

151
00:08:04,880 --> 00:08:07,520
Speaker 1: done by midday. Temperatures will be falling, so folks need

152
00:08:07,560 --> 00:08:09,640
Speaker 1: to be careful because there will be some slick spots,

153
00:08:09,760 --> 00:08:12,680
Speaker 1: especially this afternoon. Michael, thank you very much. Rob. New

154
00:08:12,720 --> 00:08:16,240
Speaker 1: York Mayor Eric Adams says enough is enough after an

155
00:08:16,280 --> 00:08:19,640
Speaker 1: eleven month old child is in critical but stable condition

156
00:08:19,680 --> 00:08:22,160
Speaker 1: after she was struck in the face by a stray bullet.

157
00:08:22,560 --> 00:08:24,760
Speaker 1: The child was in a parked car with her mother

158
00:08:24,800 --> 00:08:27,640
Speaker 1: while her father went into a grocery store. Police say

159
00:08:27,640 --> 00:08:31,280
Speaker 1: a man chasing another ran and opened fire, and then

160
00:08:31,320 --> 00:08:34,280
Speaker 1: the bullet struck the child in the bronx. Adams, who

161
00:08:34,320 --> 00:08:36,760
Speaker 1: campaigned on a pledge to make the city safer, spoke

162
00:08:36,800 --> 00:08:40,080
Speaker 1: to reporters after meeting the girls parents at the hospital.

163
00:08:40,480 --> 00:08:44,400
Speaker 1: It was a total disregard for the innocent people who

164
00:08:44,480 --> 00:08:49,520
Speaker 1: are walk into these streets. This is not the city

165
00:08:49,800 --> 00:08:52,920
Speaker 1: how children should grow up in. Mayor Adams says he's

166
00:08:52,960 --> 00:08:55,680
Speaker 1: going to stay in the streets until the city is safe.

167
00:08:56,200 --> 00:08:59,600
Speaker 1: New York City officials want to send drivers and cyclists

168
00:08:59,600 --> 00:09:04,160
Speaker 1: a message lax enforcement of traffic rules is ending. Mayor

169
00:09:04,200 --> 00:09:07,040
Speaker 1: Adams said the city is launching a multimillion dollar ad

170
00:09:07,120 --> 00:09:10,880
Speaker 1: campaign to highlight pedestrian safety initiatives and a new traffic

171
00:09:11,000 --> 00:09:14,319
Speaker 1: rule requiring cyclists and drivers to come to a complete

172
00:09:14,360 --> 00:09:17,960
Speaker 1: stop at all intersections. Adam says people must learn the

173
00:09:18,040 --> 00:09:20,480
Speaker 1: rules of the road or get off the road. New

174
00:09:20,559 --> 00:09:23,840
Speaker 1: Jersey Governor Phil Murphy says he will require healthcare workers

175
00:09:24,040 --> 00:09:27,520
Speaker 1: and employees in nursing homes and prisons to get fully

176
00:09:27,600 --> 00:09:31,720
Speaker 1: vaccinated and boosted against COVID nineteen, dropping an option to

177
00:09:31,840 --> 00:09:34,520
Speaker 1: either get the shot to be tested. This is an

178
00:09:34,600 --> 00:09:38,800
Speaker 1: unfathomable number. Roughly five thousand New Jersey ands have tested

179
00:09:38,800 --> 00:09:44,800
Speaker 1: positive for COVID, and overwhelmingly with the omicron variant. Governor

180
00:09:44,840 --> 00:09:47,800
Speaker 1: Murphy says that healthcare workers who are unvaccinated will have

181
00:09:47,960 --> 00:09:50,400
Speaker 1: until next Thursday to get their first shot. Until the

182
00:09:50,480 --> 00:09:53,520
Speaker 1: end of February for their second Global news twenty four

183
00:09:53,520 --> 00:09:56,360
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered

184
00:09:56,360 --> 00:09:59,120
Speaker 1: by more than twenty seven hundred journalists and analysts, are

185
00:09:59,120 --> 00:10:02,719
Speaker 1: more than a countries. Michael Bard, this is Bloomberg, ain't it?

186
00:10:02,880 --> 00:10:09,480
Speaker 1: Thanks Michael, coming up to six ten on Wall Street

187
00:10:09,480 --> 00:10:12,480
Speaker 1: time for the Bloomberg Sports Update with John's thanks. Nathan

188
00:10:12,559 --> 00:10:14,360
Speaker 1: Rangers went on a long road trip one three or

189
00:10:14,360 --> 00:10:16,680
Speaker 1: five back at the Garden, first time in over two weeks,

190
00:10:16,720 --> 00:10:19,080
Speaker 1: another win for the Blue Church. They were down three

191
00:10:19,120 --> 00:10:21,800
Speaker 1: to one, they came back and beat Toronto six to three,

192
00:10:21,880 --> 00:10:24,720
Speaker 1: their twenties sixth win of the season only ten losses.

193
00:10:24,800 --> 00:10:27,680
Speaker 1: Ryan Reads for his first two goals as a Ranger,

194
00:10:27,720 --> 00:10:29,960
Speaker 1: Adam Fox scored a pair, and Chris Cryer got his

195
00:10:30,000 --> 00:10:32,599
Speaker 1: twenty five of the season. Devils lost their third in

196
00:10:32,640 --> 00:10:34,880
Speaker 1: a row, beating home by Arizona four to one. Nets

197
00:10:34,880 --> 00:10:38,240
Speaker 1: in Washington. A road game means the Kyrie Irving game.

198
00:10:38,320 --> 00:10:40,640
Speaker 1: Good thing for Brooklyn. He scored thirty points. The Nets

199
00:10:40,679 --> 00:10:44,160
Speaker 1: hung on top the Wizards one eight team the Marcus

200
00:10:44,160 --> 00:10:46,520
Speaker 1: Aldridge at twenty seven Nicks row and two on this

201
00:10:46,640 --> 00:10:50,160
Speaker 1: homestand tonight they take on New Orleans and Philadelphia. The Sixers.

202
00:10:50,240 --> 00:10:52,920
Speaker 1: Joe lm be limited only twenty seven minutes due to

203
00:10:52,920 --> 00:10:56,520
Speaker 1: an injury, still scored fifty points in a win over Orlando.

204
00:10:56,640 --> 00:11:00,360
Speaker 1: Another center Nikola Yoki's forty nine points in a triple double,

205
00:11:00,800 --> 00:11:03,160
Speaker 1: and Denverse two point win over the l A Clippers.

206
00:11:03,200 --> 00:11:06,080
Speaker 1: The Lakers keep losing, and they fell at home to Indiana.

207
00:11:06,360 --> 00:11:09,199
Speaker 1: Lakers have lost four or five under five hundred they

208
00:11:09,200 --> 00:11:12,480
Speaker 1: insist they have no plans to fire their coach. Frank Vogel.

209
00:11:12,559 --> 00:11:14,959
Speaker 1: St John's went out to Omaha, got blown out by

210
00:11:15,000 --> 00:11:18,400
Speaker 1: Creighton eighties seven sixty four. Villanova up set at home

211
00:11:18,440 --> 00:11:23,360
Speaker 1: by Marquette. Rutgers topped Iowa, low scoring affair forty six

212
00:11:23,440 --> 00:11:27,760
Speaker 1: Australian Open. Daniel Medvedev is playing now against fiance Nick Karios.

213
00:11:27,760 --> 00:11:31,120
Speaker 1: Medvedev leads two sets to one. Giants said they would

214
00:11:31,160 --> 00:11:33,640
Speaker 1: hire a general manager and then worry about getting a coach,

215
00:11:33,679 --> 00:11:37,240
Speaker 1: and yet they have received permission to interview a coaching candidate.

216
00:11:37,320 --> 00:11:41,920
Speaker 1: Dan Quinn, former Atlanta coach, now the defensive coordinator in Dallas.

217
00:11:42,000 --> 00:11:45,520
Speaker 1: John Stash, Howard Bloomberg Sports, Nathan all Right, John, thank

218
00:11:45,520 --> 00:11:47,800
Speaker 1: you right now. S and P futures are up twenty

219
00:11:47,880 --> 00:11:50,959
Speaker 1: five point, Staff futures up a hundred fifty nine, NASTAC

220
00:11:51,040 --> 00:11:53,360
Speaker 1: futures on the rise by a hundred twenty six points.

221
00:11:53,360 --> 00:11:55,640
Speaker 1: The ten year treasury is up seven thirty seconds, the

222
00:11:55,760 --> 00:11:58,160
Speaker 1: yield one point eight three percent, and the yield on

223
00:11:58,200 --> 00:12:01,520
Speaker 1: the two year right now one point zero percent. You're

224
00:12:01,559 --> 00:12:09,280
Speaker 1: listening to Bloomberg, Gabriel Bloomberg eleven three oh weather rain

225
00:12:09,360 --> 00:12:11,960
Speaker 1: changes to snow this morning ties in the low forties.

226
00:12:11,960 --> 00:12:14,520
Speaker 1: Temperatures falling through the day. By tomorrow will only be

227
00:12:14,520 --> 00:12:17,360
Speaker 1: in the low twenties for highs upper twenties by Saturday.

228
00:12:17,360 --> 00:12:23,280
Speaker 1: Currently rain and forty in Central Park markets. Headlines and

229
00:12:23,360 --> 00:12:26,400
Speaker 1: breaking news twenty four hours a day at Bloomberg dot

230
00:12:26,400 --> 00:12:30,319
Speaker 1: com the Bloomberg Business and at Bloomberg Quick Tape is

231
00:12:30,320 --> 00:12:39,360
Speaker 1: a Bloomberg Business lash and I'm Karen Moscow and US

232
00:12:39,480 --> 00:12:43,160
Speaker 1: dot index futures are on the rise this morning. European

233
00:12:43,200 --> 00:12:47,080
Speaker 1: the stocks have trimmed their losses and moved higher. Now

234
00:12:47,640 --> 00:12:50,520
Speaker 1: this is a global sovereign bond sell off, pauses and

235
00:12:50,600 --> 00:12:53,200
Speaker 1: investors turn their focus to corporate earnings. We checked the

236
00:12:53,200 --> 00:12:56,280
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg

237
00:12:56,280 --> 00:12:58,560
Speaker 1: Guess and P futures at twenty seven points this morning.

238
00:12:58,559 --> 00:13:02,040
Speaker 1: Down futures have one seven seven Nasdack futures of one

239
00:13:02,120 --> 00:13:04,559
Speaker 1: hundred forty and the decks in Germany is now up

240
00:13:04,559 --> 00:13:07,160
Speaker 1: to tens of upper set and your treasury of e

241
00:13:07,240 --> 00:13:09,800
Speaker 1: thirty seconds. He had three percent, they yelled on the

242
00:13:09,840 --> 00:13:13,120
Speaker 1: two year one oh three percent. Nimex screwed oils down

243
00:13:13,120 --> 00:13:15,080
Speaker 1: a third of percent or twenty eight cents at eighty

244
00:13:15,120 --> 00:13:18,000
Speaker 1: six dollars sixty eight cents a barrel. Comic Gold down

245
00:13:18,040 --> 00:13:20,000
Speaker 1: a third of a percent as well, down six dollars

246
00:13:20,000 --> 00:13:22,839
Speaker 1: ten cents at eighteen thirty nine forty announced and as

247
00:13:22,840 --> 00:13:25,480
Speaker 1: a Bloomberg Business flashdown, here's Michael Barr with more on

248
00:13:25,600 --> 00:13:28,040
Speaker 1: what's going on around the world. Michael Karen, thank you

249
00:13:28,160 --> 00:13:30,719
Speaker 1: very much. President Joe Biden says he thinks Russia will

250
00:13:30,760 --> 00:13:34,559
Speaker 1: invade Ukraine during his news conference yesterday. Biden also warned

251
00:13:34,800 --> 00:13:38,040
Speaker 1: President Vladimir Putin that his country would pay a dear

252
00:13:38,160 --> 00:13:40,720
Speaker 1: price in lives lost and a possible cut off from

253
00:13:40,720 --> 00:13:43,559
Speaker 1: the global banking system if it does ask for NATO.

254
00:13:43,840 --> 00:13:46,760
Speaker 1: The likelihood that Ukraine is going to join NATO in

255
00:13:46,760 --> 00:13:50,680
Speaker 1: the near term is not very like. President Biden also

256
00:13:50,760 --> 00:13:53,920
Speaker 1: said a minor incursion by Russia would elicit a lesser response.

257
00:13:53,960 --> 00:13:56,280
Speaker 1: He later sought to clarify that he was referring to

258
00:13:56,679 --> 00:14:00,520
Speaker 1: a non military action, such as a cyber attack. The NBA,

259
00:14:00,600 --> 00:14:04,120
Speaker 1: the Nets beat the Wizards on the Celtics lost NHL,

260
00:14:04,160 --> 00:14:07,240
Speaker 1: The Rangers won, The Devil's Lost. Global News twenty four

261
00:14:07,280 --> 00:14:09,760
Speaker 1: hours a day on air and on Bloomberg Quick take

262
00:14:09,800 --> 00:14:13,719
Speaker 1: powered by more than hundred journalists and analysts in more

263
00:14:13,760 --> 00:14:17,240
Speaker 1: than one hundred twenty countries. Michael Barr and this is

264
00:14:17,280 --> 00:14:20,200
Speaker 1: Bloomberg NA. Thanks Michael. It's six nineteen on Wall Street

265
00:14:20,280 --> 00:14:22,920
Speaker 1: Live from the Bloomberg Interractor Broker Studios. This is Bloomberg

266
00:14:23,000 --> 00:14:24,640
Speaker 1: Day Break. Let's take a look at markets now and

267
00:14:24,680 --> 00:14:28,160
Speaker 1: the long term outlook for risk assets. Inflation concerns are

268
00:14:28,240 --> 00:14:30,880
Speaker 1: leading to worries about tightening from the Fed, and this

269
00:14:30,920 --> 00:14:34,320
Speaker 1: time last year the forecast was for no rate increases

270
00:14:34,440 --> 00:14:37,640
Speaker 1: this year. Now predictions have the Central Bank hiking anywhere

271
00:14:37,680 --> 00:14:41,000
Speaker 1: from fifty to a hundred twenty five basis points by December,

272
00:14:41,040 --> 00:14:44,200
Speaker 1: and that has led to volatility and rate and equities markets,

273
00:14:44,480 --> 00:14:47,360
Speaker 1: particularly in high growth tech stocks. For more, let's get

274
00:14:47,360 --> 00:14:50,200
Speaker 1: the view from the head of Fidelity International CEO and

275
00:14:50,400 --> 00:14:53,280
Speaker 1: Richards sat down this morning for an interview with Bloomberg's

276
00:14:53,280 --> 00:14:56,960
Speaker 1: Francine Lakwa. Here's part of that conversation now on inflation,

277
00:14:57,040 --> 00:14:59,600
Speaker 1: have you changed your mind on how quickly central banks

278
00:14:59,680 --> 00:15:02,480
Speaker 1: should move on I think in December you said that

279
00:15:02,560 --> 00:15:03,920
Speaker 1: you know they would have to be an await and

280
00:15:03,960 --> 00:15:07,040
Speaker 1: C situation to have some concrete data before they acted.

281
00:15:08,480 --> 00:15:10,680
Speaker 1: I think that that the point that we've been quite

282
00:15:10,720 --> 00:15:13,120
Speaker 1: consistent of for quite a few months now is that

283
00:15:13,160 --> 00:15:17,200
Speaker 1: the risk of a policy mistake by being too hawkish

284
00:15:17,640 --> 00:15:20,560
Speaker 1: was probably the bigger risk on a balance of probabilities,

285
00:15:20,600 --> 00:15:23,800
Speaker 1: which is not to say there aren't quite significant challenges

286
00:15:24,280 --> 00:15:26,920
Speaker 1: in the inflation picture, and I think we'd probably stand

287
00:15:26,920 --> 00:15:31,680
Speaker 1: by that, particularly now when you see that we've got

288
00:15:31,720 --> 00:15:35,640
Speaker 1: this tension between yes, rising inflation, but at the same

289
00:15:35,680 --> 00:15:38,720
Speaker 1: time some real signs that maybe the growth picture is

290
00:15:38,720 --> 00:15:42,200
Speaker 1: not quite as rosy as it was for five months ago.

291
00:15:42,240 --> 00:15:44,720
Speaker 1: And that's the combination of a macron but just the

292
00:15:44,760 --> 00:15:49,360
Speaker 1: way the whole supply chain challenges have played out. And

293
00:15:49,440 --> 00:15:51,720
Speaker 1: I think when if you're a central banker right now,

294
00:15:51,760 --> 00:15:54,200
Speaker 1: you're in that going to catch twenty two situation because

295
00:15:54,240 --> 00:15:56,920
Speaker 1: you don't want to kill gross that might already be

296
00:15:57,000 --> 00:15:59,760
Speaker 1: under some pressure, but at the same time you've got

297
00:15:59,800 --> 00:16:03,160
Speaker 1: this big challenge on the inflation front. If you unpack

298
00:16:03,520 --> 00:16:07,280
Speaker 1: the inflation challenges, they're quite different in different parts of

299
00:16:07,320 --> 00:16:08,640
Speaker 1: the world. And one of the things I think is

300
00:16:08,720 --> 00:16:11,840
Speaker 1: very striking is the fact that inflation numbers look much

301
00:16:11,840 --> 00:16:14,520
Speaker 1: worse in the US to the way they look in Europe.

302
00:16:15,040 --> 00:16:17,160
Speaker 1: In Europe, there's still a challenge, but of course still

303
00:16:17,200 --> 00:16:21,680
Speaker 1: significantly higher than for example, Japan. So the inflation picture

304
00:16:21,800 --> 00:16:24,760
Speaker 1: is playing out for a whole host of different reasons,

305
00:16:24,760 --> 00:16:28,080
Speaker 1: and it's not clear that those reasons will necessarily respond

306
00:16:28,200 --> 00:16:30,880
Speaker 1: quickly to interest rate rises, which suggest that the interest

307
00:16:30,960 --> 00:16:34,080
Speaker 1: rate rises are always the answer. Do central banks need

308
00:16:34,120 --> 00:16:37,320
Speaker 1: to adapt their language to communicate better with the markets

309
00:16:37,400 --> 00:16:39,480
Speaker 1: or how do you think this will play out? Like

310
00:16:39,560 --> 00:16:42,280
Speaker 1: the market reaction to what the central banks are saying

311
00:16:42,280 --> 00:16:45,160
Speaker 1: more than doing so. I think there's two things that

312
00:16:45,120 --> 00:16:46,920
Speaker 1: are really worth thinking about. I think the central banks

313
00:16:47,000 --> 00:16:51,800
Speaker 1: are really keen to manage our inflation expectations. They came

314
00:16:51,840 --> 00:16:54,440
Speaker 1: more about care more about our inflation expectations than they

315
00:16:54,480 --> 00:16:57,320
Speaker 1: do about absolute levels of inflation, and I think you

316
00:16:57,360 --> 00:16:59,240
Speaker 1: can already see that by the responses that there have

317
00:16:59,320 --> 00:17:02,240
Speaker 1: been out of there. The second is, I think there's

318
00:17:02,280 --> 00:17:06,040
Speaker 1: a very close attention paid to real yields because when

319
00:17:06,080 --> 00:17:09,840
Speaker 1: you look at those long term macro trends, very high

320
00:17:09,920 --> 00:17:15,720
Speaker 1: debt levels and and and a more challenging demographic short

321
00:17:15,840 --> 00:17:19,600
Speaker 1: term lifts and inflation because of changes in demand pattern,

322
00:17:19,760 --> 00:17:24,399
Speaker 1: because of changes in employment choices, and because of that

323
00:17:24,480 --> 00:17:29,400
Speaker 1: supply chain disruption. They're all relatively short or at least

324
00:17:29,400 --> 00:17:33,760
Speaker 1: cyclical issues against that very long structural shift that you've

325
00:17:33,800 --> 00:17:36,800
Speaker 1: got got going on with demographics and with high debt levels,

326
00:17:36,880 --> 00:17:39,679
Speaker 1: and so I think it's the real yield that really

327
00:17:40,040 --> 00:17:44,719
Speaker 1: the central bankers are most focused on, because it's if

328
00:17:44,880 --> 00:17:49,119
Speaker 1: if that rises significantly, certainly if it gets above zero,

329
00:17:49,160 --> 00:17:51,679
Speaker 1: then you start to have a real risk of a

330
00:17:51,800 --> 00:17:53,879
Speaker 1: very hard landing. And I don't think that is on

331
00:17:53,920 --> 00:17:56,320
Speaker 1: anybody's roadmap. So it's a central ancer. I think that's

332
00:17:56,359 --> 00:17:58,800
Speaker 1: what you're playing with right now. Not get our inflation

333
00:17:58,840 --> 00:18:03,680
Speaker 1: expectations down matters more than the absolute level of inflation today.

334
00:18:03,840 --> 00:18:05,320
Speaker 1: So what does it mean for the markets? And is

335
00:18:05,320 --> 00:18:07,639
Speaker 1: this the right time to bed on parts of the

336
00:18:07,680 --> 00:18:11,960
Speaker 1: markets that could benefit from the end of the pandemic? Well,

337
00:18:12,000 --> 00:18:13,840
Speaker 1: I mean the end of pandemic. That's that's a really

338
00:18:13,880 --> 00:18:16,000
Speaker 1: big statement out there. I mean, what what is what

339
00:18:16,000 --> 00:18:17,679
Speaker 1: do we mean by the end of the pandemic? Do

340
00:18:17,720 --> 00:18:20,080
Speaker 1: we mean just adjusting to the fact that we're going

341
00:18:20,119 --> 00:18:23,359
Speaker 1: to have ongoing waves over periods of time and we

342
00:18:23,400 --> 00:18:26,080
Speaker 1: need to get better at adapting to them. I think

343
00:18:26,680 --> 00:18:29,720
Speaker 1: for what it means for markets is that I think

344
00:18:29,800 --> 00:18:34,520
Speaker 1: central banks if they see the inflation expectations maintained under

345
00:18:34,520 --> 00:18:37,320
Speaker 1: control and they don't see real yields getting out of control,

346
00:18:38,040 --> 00:18:42,320
Speaker 1: I think probably will be at the margin more devish

347
00:18:42,600 --> 00:18:47,280
Speaker 1: then the rhetoric today suggests, which means actually probably, although

348
00:18:47,320 --> 00:18:51,880
Speaker 1: this volatility is likely to continue for some time. Actually

349
00:18:51,960 --> 00:18:55,200
Speaker 1: that's not a bad bedrock rates that rise too hard,

350
00:18:55,640 --> 00:18:59,320
Speaker 1: too fast and squeeze off what is quite the fregile

351
00:18:59,600 --> 00:19:02,359
Speaker 1: you can recovery. I think the final point I would

352
00:19:02,359 --> 00:19:04,600
Speaker 1: make is that there are parts of the world in

353
00:19:04,680 --> 00:19:08,560
Speaker 1: China is the most noticeable in that where they actually

354
00:19:08,600 --> 00:19:10,920
Speaker 1: because they've taken a very different approach to the pandemic.

355
00:19:11,800 --> 00:19:15,600
Speaker 1: They're looking for maybe easing rather than a tightening agenda,

356
00:19:15,680 --> 00:19:17,239
Speaker 1: which you're seeing other parts of the world. And we

357
00:19:17,280 --> 00:19:18,919
Speaker 1: need to have space for both if we're going to

358
00:19:19,000 --> 00:19:22,960
Speaker 1: keep the global picture of recovering growth on track. And

359
00:19:23,000 --> 00:19:27,160
Speaker 1: that's Fidelity International CEO and Richards speaking with Bloomberg's Francine

360
00:19:27,200 --> 00:19:29,040
Speaker 1: la Quid this morning, and you can catch more of

361
00:19:29,080 --> 00:19:33,439
Speaker 1: that conversation online at Bloomberg dot com. Looking at markets

362
00:19:33,520 --> 00:19:36,800
Speaker 1: right now, futures are moving higher along with treasuries. That's

363
00:19:36,840 --> 00:19:39,399
Speaker 1: bringing yields lower this morning s and P futures right

364
00:19:39,400 --> 00:19:41,679
Speaker 1: now up twenty five point, Staff futures up a hundred

365
00:19:41,680 --> 00:19:45,320
Speaker 1: fifty seven and NASDAC futures leading the gains. This morning.

366
00:19:45,359 --> 00:19:47,320
Speaker 1: There are up a hundred thirty seven points, that is

367
00:19:47,440 --> 00:19:50,119
Speaker 1: a gain of nine tenths of one percent. The tenure

368
00:19:50,160 --> 00:19:52,320
Speaker 1: treasury is up eight thirty seconds. The yield now one

369
00:19:52,359 --> 00:19:54,520
Speaker 1: point three on the tenure and the yield on the

370
00:19:54,560 --> 00:19:57,560
Speaker 1: two year one point zero three just ahead. Is this

371
00:19:57,640 --> 00:19:59,960
Speaker 1: market relief? And how's the five g roll out of

372
00:20:00,000 --> 00:20:01,879
Speaker 1: affecting your line? So I have the five things you

373
00:20:01,920 --> 00:20:04,960
Speaker 1: need to know to start your day. This is Bloomberg

374
00:20:07,560 --> 00:20:09,800
Speaker 1: Bloomberg eleven three oh weather. Rain will change to snow

375
00:20:09,840 --> 00:20:12,520
Speaker 1: this morning. Early highs in the low forties, temperatures falling

376
00:20:12,520 --> 00:20:14,600
Speaker 1: through the day partly sunny, highs only in the low

377
00:20:14,680 --> 00:20:18,000
Speaker 1: twenties Tomorrow, mix of sun and cloud's upper twenties. Sunday

378
00:20:18,119 --> 00:20:24,520
Speaker 1: right now forty and rain. Broadcasting live from the Bloomberg

379
00:20:24,600 --> 00:20:29,040
Speaker 1: Interactive Broker Studio in New York. Bloomberg Living Freedom to Washington,

380
00:20:29,119 --> 00:20:33,240
Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one

381
00:20:33,320 --> 00:20:36,800
Speaker 1: does San Francisco, Bloomberg N sixty to the Country Sirius

382
00:20:36,920 --> 00:20:40,119
Speaker 1: XM chto one ninet and around the globe the Bloomberg

383
00:20:40,160 --> 00:20:44,600
Speaker 1: Business app in Bloomberg Radio dot com. This is Bloomberg Daybreak.

384
00:20:50,400 --> 00:20:52,720
Speaker 1: It's six thirty on Wall Street. Good morning. I'm Nathan

385
00:20:52,760 --> 00:20:55,840
Speaker 1: Hagar and I'm Karen Moscow or just about three hours

386
00:20:55,880 --> 00:20:58,160
Speaker 1: away from the open of US trading. It is time

387
00:20:58,160 --> 00:21:00,560
Speaker 1: for the five things you need to know to start

388
00:21:00,600 --> 00:21:03,520
Speaker 1: your day. Brought to you by Interactive Brokers. Ib k

389
00:21:03,760 --> 00:21:06,920
Speaker 1: R charges Martin loan rates from zero point seven five

390
00:21:06,960 --> 00:21:10,160
Speaker 1: percent to one point five nine percent rates subject to change.

391
00:21:10,280 --> 00:21:14,000
Speaker 1: Learn more at ib k R dot com. Slash compare up. First,

392
00:21:14,119 --> 00:21:16,600
Speaker 1: the US futures are higher and bond yields are lower

393
00:21:16,640 --> 00:21:19,600
Speaker 1: following yesterday's sell off. Let's get more on the market

394
00:21:19,640 --> 00:21:22,960
Speaker 1: action live with the Bloomberg's John Tucker John Karen. After

395
00:21:23,080 --> 00:21:25,920
Speaker 1: yesterday's one percent slide for the NASTACT, the index is

396
00:21:25,960 --> 00:21:29,720
Speaker 1: now down over ten percent from its November high. There

397
00:21:29,760 --> 00:21:33,280
Speaker 1: may be some relief though. Bonds are stabilizing today, and

398
00:21:33,440 --> 00:21:37,080
Speaker 1: earning season has delivered positive results from companies like Morgan Stanley,

399
00:21:37,160 --> 00:21:41,280
Speaker 1: United Health, and Procter and Gamble. Still, strategists at HSBC

400
00:21:41,840 --> 00:21:45,400
Speaker 1: are cutting their recommendation on US docks from overweight to neutral.

401
00:21:45,720 --> 00:21:48,480
Speaker 1: Live in New York. I'm John Tucker, Bloomberg Day Break.

402
00:21:48,560 --> 00:21:51,439
Speaker 1: All right, John, Thanks. Politics is also a major focus

403
00:21:51,520 --> 00:21:55,320
Speaker 1: this morning. President Biden's pushed for voting rights legislation has collapsed.

404
00:21:55,359 --> 00:21:58,639
Speaker 1: Senators Joe Mansion and Kirsten Cinema broke with Democrats to

405
00:21:58,720 --> 00:22:01,760
Speaker 1: kill the bill. Still, Vice President Kamala Harris is not

406
00:22:01,880 --> 00:22:03,840
Speaker 1: giving up. The President. I are not going to give

407
00:22:03,920 --> 00:22:07,199
Speaker 1: up on this issue. This is fundamental ary democracy and

408
00:22:07,240 --> 00:22:09,920
Speaker 1: it is non negotiable. Vice President Harris says they'll look

409
00:22:09,920 --> 00:22:13,480
Speaker 1: to pass a smaller voting plan instead. Meantime, Nathan President

410
00:22:13,560 --> 00:22:16,200
Speaker 1: Biden held a wide ranging news conference and his first

411
00:22:16,280 --> 00:22:19,480
Speaker 1: year in office. The President said he's outperformed expectations, but

412
00:22:19,520 --> 00:22:23,480
Speaker 1: admits frustration from rising prices and the pandemic. He also

413
00:22:23,520 --> 00:22:26,640
Speaker 1: says tensions with the Russian president Vladimir Putin could come

414
00:22:26,680 --> 00:22:31,439
Speaker 1: to a head over Ukraine. I'm not so certain what

415
00:22:31,520 --> 00:22:34,440
Speaker 1: he's going to do. I guess is he will move in.

416
00:22:34,960 --> 00:22:38,240
Speaker 1: He has to do something. President Biden says Russia will

417
00:22:38,280 --> 00:22:42,080
Speaker 1: be held accountable if it invades Ukraine. Outside politics, Karen

418
00:22:42,119 --> 00:22:44,359
Speaker 1: were focused on the controversial roll out of five G

419
00:22:44,720 --> 00:22:48,080
Speaker 1: so far, the country's avoided major airline disruptions tided to

420
00:22:48,119 --> 00:22:50,640
Speaker 1: the service. Bloomberg's Ranida Young joins US Live with more

421
00:22:50,720 --> 00:22:54,400
Speaker 1: Ranita Nathan. The f a A is clearing about six

422
00:22:55,320 --> 00:22:58,600
Speaker 1: of the US aviation fleet to operate at airports without

423
00:22:58,680 --> 00:23:01,399
Speaker 1: fear of five G inter arans in the new study.

424
00:23:01,560 --> 00:23:05,240
Speaker 1: Safety measures also increased the number of airports where flights

425
00:23:05,240 --> 00:23:08,840
Speaker 1: can safely operate. While the US avoided major disruptions on

426
00:23:08,960 --> 00:23:11,440
Speaker 1: the first official day of five G service, the f

427
00:23:11,600 --> 00:23:15,320
Speaker 1: a A warrants that disruptions are still possible. Live in

428
00:23:15,320 --> 00:23:18,240
Speaker 1: New York, I'm Ranita Young, Bloomberg Daybreak. All right, Rania,

429
00:23:18,359 --> 00:23:20,639
Speaker 1: thank you, and back to the markets. This morning, the

430
00:23:20,680 --> 00:23:23,800
Speaker 1: focus remains on earnings. Give results from Netflix after the

431
00:23:23,800 --> 00:23:26,399
Speaker 1: closing bell. The company's projects a gain of eight and

432
00:23:26,400 --> 00:23:28,760
Speaker 1: a half million subscribers. And that's the five things you

433
00:23:28,800 --> 00:23:31,280
Speaker 1: need to notice start your day. Brought to you by

434
00:23:31,400 --> 00:23:38,720
Speaker 1: Interactive Brokers. And this is Bloomberg. Thanks Caring. Six three

435
00:23:38,760 --> 00:23:41,040
Speaker 1: on Wall Street, Reign thirty nine degrees in Central Park,

436
00:23:41,119 --> 00:23:44,760
Speaker 1: got an accident in Stamford southbound Connecticut Turnpike at exit six.

437
00:23:44,800 --> 00:23:47,040
Speaker 1: The tails on that and more come up in traffic.

438
00:23:47,080 --> 00:23:49,040
Speaker 1: First Michael Barr with what else is going on in

439
00:23:49,080 --> 00:23:51,080
Speaker 1: New York and around the world. Good morning, Michael, Good

440
00:23:51,160 --> 00:23:54,080
Speaker 1: morning Nathan. New York Mayor Eric Adams has enough is

441
00:23:54,200 --> 00:23:56,919
Speaker 1: enough after an eleven month old girl was struck by

442
00:23:56,920 --> 00:23:59,639
Speaker 1: a straight bullet last night in the Bronx. The child,

443
00:23:59,680 --> 00:24:02,000
Speaker 1: who was in critical condition, was with her mother in

444
00:24:02,040 --> 00:24:04,439
Speaker 1: a parked vehicle while her father was in a nearby

445
00:24:04,480 --> 00:24:08,520
Speaker 1: grocery store. Police say and unidentified man apparently opened fire

446
00:24:08,560 --> 00:24:11,760
Speaker 1: while chasing another man in the street. Adams, who campaigned

447
00:24:11,760 --> 00:24:13,760
Speaker 1: on a pledge to make the city safer, has said

448
00:24:14,080 --> 00:24:16,920
Speaker 1: he met with the girl's parents at the hospital. Doesn't

449
00:24:16,920 --> 00:24:21,000
Speaker 1: matter to me if it's a police officers shot or

450
00:24:21,040 --> 00:24:23,800
Speaker 1: if it's a baby shot. I'm going to stay in

451
00:24:23,880 --> 00:24:28,280
Speaker 1: these streets until this city is safe, Mayor Adams, as

452
00:24:28,320 --> 00:24:30,960
Speaker 1: the shooter is still on the loose. In another matter

453
00:24:31,000 --> 00:24:33,480
Speaker 1: of New York, Mayor Adams said that he would consider

454
00:24:33,520 --> 00:24:36,440
Speaker 1: excluding the New York City Police Department from a citywide

455
00:24:36,440 --> 00:24:39,800
Speaker 1: cost cutting measure that he is implementing across all the

456
00:24:39,840 --> 00:24:43,400
Speaker 1: government agencies. In his first week's in office, Adams asked

457
00:24:43,480 --> 00:24:46,920
Speaker 1: all city departments to cut non personnel spending by three

458
00:24:46,920 --> 00:24:51,040
Speaker 1: percent as New York prepares to balance the nearly billion

459
00:24:51,080 --> 00:24:55,200
Speaker 1: dollar budget with minimal federal aid money. New Jersey Governor

460
00:24:55,200 --> 00:24:58,359
Speaker 1: Phil Murphy is requiring all workers and healthcare settings and

461
00:24:58,480 --> 00:25:01,879
Speaker 1: high risk congregate living for scyllabbies to be fully COVID

462
00:25:02,000 --> 00:25:06,000
Speaker 1: nineteen vaccinated and boosted. Murphy also says he is eliminating

463
00:25:06,040 --> 00:25:09,959
Speaker 1: a test out option, and Omicron's tsunami has washed across

464
00:25:10,000 --> 00:25:13,720
Speaker 1: our state. While it appears at Omicron the that the

465
00:25:13,800 --> 00:25:17,960
Speaker 1: Omicrons tsunami is finally pulling back, we are in no

466
00:25:18,080 --> 00:25:21,280
Speaker 1: position to say we're on dry ground, Murphy says. Those

467
00:25:21,320 --> 00:25:24,080
Speaker 1: in the health care community who aren't vaccinated have until

468
00:25:24,160 --> 00:25:27,960
Speaker 1: January seven to get their first vaccine does and the

469
00:25:28,040 --> 00:25:31,680
Speaker 1: second shot by February. The U. S. Supreme Court denied

470
00:25:31,720 --> 00:25:35,159
Speaker 1: a request from former President Trump to shield his presidential

471
00:25:35,160 --> 00:25:39,240
Speaker 1: papers from the congressional committee investigating the January sixth attack.

472
00:25:39,840 --> 00:25:42,200
Speaker 1: There was one vote in descent who would have allowed

473
00:25:42,240 --> 00:25:45,840
Speaker 1: Trump to claim executive privilege over the documents. Justice Clarence

474
00:25:45,840 --> 00:25:49,359
Speaker 1: Thomas Galaim Maxwell formerly asked for a new trial after

475
00:25:49,400 --> 00:25:52,000
Speaker 1: her lawyers raised concerns that at least one of the

476
00:25:52,080 --> 00:25:56,080
Speaker 1: juries who convicted her of sex trafficking didn't disclose during

477
00:25:56,160 --> 00:25:59,600
Speaker 1: pre trial screenings that he was sexually abused as a child.

478
00:26:00,119 --> 00:26:03,159
Speaker 1: The British socialite was found guilty last month of helping

479
00:26:03,160 --> 00:26:07,200
Speaker 1: to sexually abuse underage girls. With Jeffrey Epstein, Global News

480
00:26:07,200 --> 00:26:09,639
Speaker 1: twenty four hours a day on air and on Bloomberg

481
00:26:09,680 --> 00:26:12,600
Speaker 1: Quick Take, powered by more than twenty seven under journalist

482
00:26:12,640 --> 00:26:15,400
Speaker 1: and analysts more than a hundred twenty countries. I'm Michael Barr.

483
00:26:15,440 --> 00:26:23,000
Speaker 1: This is Bloomberg, Nathan, Michael, thank you. Just about six

484
00:26:23,040 --> 00:26:25,200
Speaker 1: thirty six on Wall Street Time for the Bloomberg Sports

485
00:26:25,240 --> 00:26:27,919
Speaker 1: Update with John stash House. Nathan. The criticism of Kyrie

486
00:26:28,000 --> 00:26:30,760
Speaker 1: Irving continues. The latest away in Hall of Famer Dave

487
00:26:30,840 --> 00:26:33,480
Speaker 1: Bang who said Irving is letting his teammates down. One

488
00:26:33,520 --> 00:26:36,440
Speaker 1: of those teammates, James Harden, recently joked that he's going

489
00:26:36,480 --> 00:26:39,560
Speaker 1: to inject Kyrie with the vaccine himself. There are no

490
00:26:39,640 --> 00:26:42,920
Speaker 1: indications Kyrie will change his stance, which means he k

491
00:26:43,119 --> 00:26:45,080
Speaker 1: will continue to play only on the road. The Nets

492
00:26:45,119 --> 00:26:47,240
Speaker 1: are playing a lot of road games right now. Last

493
00:26:47,320 --> 00:26:49,520
Speaker 1: night they were in Washington. They topped the Wizards one

494
00:26:49,640 --> 00:26:54,240
Speaker 1: nineteen to one. Eighteen Irving scot thirty points. Like chipping

495
00:26:54,280 --> 00:26:56,000
Speaker 1: in in the first half, you know it's going being

496
00:26:56,040 --> 00:26:59,159
Speaker 1: aggressive and then um, you know, com pasting myself in

497
00:26:59,200 --> 00:27:01,840
Speaker 1: the second half. Trying to put two solid halves together

498
00:27:01,920 --> 00:27:04,920
Speaker 1: at this point and I think once I do that,

499
00:27:04,960 --> 00:27:06,560
Speaker 1: I'll feel a lot more complete. But in terms of

500
00:27:06,600 --> 00:27:09,320
Speaker 1: where we are as a team's gut win despite Irving

501
00:27:09,400 --> 00:27:12,040
Speaker 1: playing part time and now that Kevin Durant injury nets

502
00:27:12,040 --> 00:27:14,520
Speaker 1: only a half game out for first in the East.

503
00:27:14,640 --> 00:27:17,000
Speaker 1: Nick's home tonight for New Orleans last night at the

504
00:27:17,040 --> 00:27:19,679
Speaker 1: Guard another Ranger wins six to three over Toronto, two

505
00:27:19,720 --> 00:27:22,440
Speaker 1: goals for Adam Fox and two for Ryan Reeves, his

506
00:27:22,600 --> 00:27:24,800
Speaker 1: first two of the season. That was lost at home

507
00:27:24,880 --> 00:27:28,000
Speaker 1: to Arizona four to one. St. John's beaten soundly by

508
00:27:28,119 --> 00:27:33,400
Speaker 1: Crighton eight seven sixty four Rutgers at six win over

509
00:27:33,720 --> 00:27:36,720
Speaker 1: Iowa and Ron Harper's two free throws with two seconds left.

510
00:27:37,040 --> 00:27:38,920
Speaker 1: Andy Murray was trying to make a comeback at age

511
00:27:38,960 --> 00:27:41,160
Speaker 1: thirty four. He'd been riddled with injury the last few years.

512
00:27:41,200 --> 00:27:43,840
Speaker 1: He lost his second round match at the Australian Open

513
00:27:43,960 --> 00:27:47,240
Speaker 1: Daniel Medvedev, the two seed off the US Open, when

514
00:27:47,320 --> 00:27:50,320
Speaker 1: last September he just won his match with the ausee

515
00:27:50,400 --> 00:27:53,359
Speaker 1: Nick Kurios in four sets, but Emma Radikan, who won

516
00:27:53,480 --> 00:27:56,880
Speaker 1: the open, lost in three sets. Battle of Americans Taylor Fritz,

517
00:27:56,960 --> 00:27:59,560
Speaker 1: Feed Frances Tfo and then Fritz then heard his legs

518
00:27:59,600 --> 00:28:01,560
Speaker 1: celebra in the victory, says he'll be fine for his

519
00:28:01,680 --> 00:28:05,880
Speaker 1: next match. Spacially were Bloomberg Okay, John Thanks at six

520
00:28:06,000 --> 00:28:07,880
Speaker 1: thirty seven on Wall Street Time to take a look

521
00:28:07,920 --> 00:28:09,800
Speaker 1: at stock some of the names moving in the pre

522
00:28:09,960 --> 00:28:13,800
Speaker 1: market with Bloomberg Radio and TV Markets correspondent Creety gooped

523
00:28:14,000 --> 00:28:17,119
Speaker 1: with a focus on earnings in the air. Yeah, we

524
00:28:17,200 --> 00:28:19,879
Speaker 1: got to talk about these earnings. Everyone's talking about, you know, Netflix,

525
00:28:20,000 --> 00:28:23,200
Speaker 1: the big tech and banks. No one's talking about the airlines.

526
00:28:23,240 --> 00:28:26,680
Speaker 1: You had United Air report after hours yesterday reporting a

527
00:28:26,800 --> 00:28:29,560
Speaker 1: loss in the final three months of one a better

528
00:28:29,640 --> 00:28:32,440
Speaker 1: loss than expected, but a loss. Nonetheless, Nathan saying that

529
00:28:32,480 --> 00:28:36,480
Speaker 1: Omicron is cutting into the capacity. They're still dealing with

530
00:28:36,520 --> 00:28:39,440
Speaker 1: those labor pressures and of course the supply chain costs

531
00:28:39,440 --> 00:28:43,360
Speaker 1: as well. That's really rippling into kind of their bottom line.

532
00:28:43,400 --> 00:28:46,240
Speaker 1: What's important to keep in mind here is that for airlines,

533
00:28:46,320 --> 00:28:48,600
Speaker 1: one of the big sticking points has been when are

534
00:28:48,640 --> 00:28:50,400
Speaker 1: they going to recover from cope from this kind of

535
00:28:50,480 --> 00:28:53,160
Speaker 1: COVID hit. When are they going to actually turn positive?

536
00:28:53,240 --> 00:28:55,360
Speaker 1: Delta was the very first one to do that in

537
00:28:55,440 --> 00:28:58,480
Speaker 1: the fourth quarter of one, and now we have to

538
00:28:58,480 --> 00:29:00,080
Speaker 1: see if some of those airlines can really keep But

539
00:29:00,320 --> 00:29:02,720
Speaker 1: but right now, Eric, uh not Eric, excuse me, Nathan

540
00:29:02,800 --> 00:29:05,239
Speaker 1: of staring Eric a message from Eric on my terminal here,

541
00:29:05,280 --> 00:29:09,080
Speaker 1: But Nathan, excuse me, is actually down under pressure. Remember

542
00:29:09,080 --> 00:29:12,400
Speaker 1: they've also been dealing with about three thousand people calling

543
00:29:12,440 --> 00:29:14,840
Speaker 1: in sick simply because they have COVID. So the labor

544
00:29:14,920 --> 00:29:18,040
Speaker 1: issues very pronounced an airline stock. Nevertheless, you A L

545
00:29:18,120 --> 00:29:21,000
Speaker 1: is your taker down about half a percent. American Airlines

546
00:29:21,040 --> 00:29:22,520
Speaker 1: is where we're going to get that next test to

547
00:29:22,600 --> 00:29:25,280
Speaker 1: see if it's kind of a United Air story or

548
00:29:25,400 --> 00:29:27,680
Speaker 1: this is an airline story broadly, A L is your

549
00:29:27,720 --> 00:29:30,040
Speaker 1: taker up one point a percent in the pre market.

550
00:29:30,120 --> 00:29:32,600
Speaker 1: They are reporting, I believe in the next hour. So

551
00:29:32,840 --> 00:29:34,760
Speaker 1: something to keep an eye on as we go into

552
00:29:34,760 --> 00:29:37,600
Speaker 1: the rest of earning season. Yeah, definitely watching those airline

553
00:29:37,640 --> 00:29:40,240
Speaker 1: earnings as well as Netflix. As you mentioned, reporting after

554
00:29:40,360 --> 00:29:44,080
Speaker 1: the bell this afternoon. We've got some analyst moves this

555
00:29:44,240 --> 00:29:47,000
Speaker 1: morning as well. Yeah, the analysts keeping busy, keeping us

556
00:29:47,040 --> 00:29:49,760
Speaker 1: on our toes. I'm gonna start air with semiconductors, Advanced

557
00:29:49,840 --> 00:29:52,840
Speaker 1: micro devices a m D down one point three percent

558
00:29:52,920 --> 00:29:55,120
Speaker 1: in the pre market. N XP semi conductors as well,

559
00:29:55,160 --> 00:29:58,040
Speaker 1: down one point four percent. The takers n XP both

560
00:29:58,120 --> 00:30:01,000
Speaker 1: cut to neutral from an overweight over at Piper sand

561
00:30:01,040 --> 00:30:03,480
Speaker 1: We're sighting those day on downside risks for a m

562
00:30:03,600 --> 00:30:06,120
Speaker 1: D is going to be a combination of a potential

563
00:30:06,160 --> 00:30:10,120
Speaker 1: slowdown in the PC market in two earnings growth, headwinds

564
00:30:10,160 --> 00:30:13,280
Speaker 1: from closing a silence steal, and of course it is

565
00:30:13,280 --> 00:30:15,840
Speaker 1: broader market dynamics around tech StockX. We know that's a

566
00:30:16,000 --> 00:30:18,560
Speaker 1: very crucial spot to look at right now. For n XP,

567
00:30:18,840 --> 00:30:22,239
Speaker 1: also cut because of a very cautious automotive view when

568
00:30:22,280 --> 00:30:24,840
Speaker 1: it comes to semiconductors. There is a wall of worry,

569
00:30:25,160 --> 00:30:27,000
Speaker 1: especially when it comes to Piper Stanley, and that is

570
00:30:27,040 --> 00:30:29,640
Speaker 1: clearly weighing on both a m D and n XP.

571
00:30:29,960 --> 00:30:31,720
Speaker 1: I'll leave you on an up note, Nathan, because we

572
00:30:31,760 --> 00:30:34,400
Speaker 1: got to leave you with some optimism here. Vertex Pharmaceuticals

573
00:30:34,480 --> 00:30:36,640
Speaker 1: v r t X up seven tenths of a percent

574
00:30:36,760 --> 00:30:39,800
Speaker 1: after it gets upgraded to an outperform from a market

575
00:30:39,920 --> 00:30:42,760
Speaker 1: form over at BMO, saying it has quote an increasingly

576
00:30:43,000 --> 00:30:45,520
Speaker 1: positive outlook on the company, a rare view in the

577
00:30:45,560 --> 00:30:48,000
Speaker 1: biotech space. All right, creaty, thanks, so let's get back

578
00:30:48,040 --> 00:30:50,080
Speaker 1: to that message from Erica. Make sure you right back

579
00:30:50,120 --> 00:30:53,400
Speaker 1: to him. Bloomberg Radio on TV. Markets correspondent Crety Gupta

580
00:30:53,560 --> 00:30:55,760
Speaker 1: with the pre market look this morning, and as we

581
00:30:55,800 --> 00:30:57,560
Speaker 1: take a look at stocks as a whole ahead of

582
00:30:57,600 --> 00:31:00,920
Speaker 1: the Thursday morning open. Futures are moving higher. We've got

583
00:31:01,080 --> 00:31:03,600
Speaker 1: SMP futures right now up twenty four point, Staff futures

584
00:31:03,680 --> 00:31:05,920
Speaker 1: up a hundred forty, Nasdaq futures on the rise by

585
00:31:05,960 --> 00:31:09,360
Speaker 1: a hundred thirty four points. The tenure treasury up nine

586
00:31:09,480 --> 00:31:12,479
Speaker 1: thirty seconds. The yield one percent yield on the two

587
00:31:12,560 --> 00:31:16,160
Speaker 1: year right now one point zero three. Stay with us,

588
00:31:16,240 --> 00:31:23,360
Speaker 1: you're listening to Bloomberg Day right, Bloomberg eleven three oh

589
00:31:23,400 --> 00:31:26,040
Speaker 1: Weather rain changing to snow this morning, early highs in

590
00:31:26,080 --> 00:31:29,360
Speaker 1: the low forties, temperatures falling through the day Tomorrow, partly sunny,

591
00:31:29,480 --> 00:31:33,000
Speaker 1: low twenties for highs upper twenties by Saturday, rain and

592
00:31:33,120 --> 00:31:39,320
Speaker 1: thirty nine degrees. Right now, Markets headlines and breaking news

593
00:31:39,480 --> 00:31:42,080
Speaker 1: twenty four hours a day at Bloomberg dot com, the

594
00:31:42,120 --> 00:31:45,640
Speaker 1: Bloomberg Business out and at Bloomberg Quick tape is a

595
00:31:45,680 --> 00:31:55,120
Speaker 1: Bloomberg Business flash and I'm Karen Moscow future is rising.

596
00:31:55,200 --> 00:31:57,320
Speaker 1: This morning, we had the first word breaking news desk

597
00:31:57,400 --> 00:31:59,960
Speaker 1: for today's morning call. Here's Bill Maloney, Bill, good morning,

598
00:32:01,200 --> 00:32:03,520
Speaker 1: and good morning, Karen. That's right. US features are in

599
00:32:03,560 --> 00:32:06,200
Speaker 1: the green fu yesterday's sell off without features currently up

600
00:32:06,240 --> 00:32:08,800
Speaker 1: a hundred and two points. Estimes gained twenty welven Aztec

601
00:32:08,840 --> 00:32:12,560
Speaker 1: features are higher by one fifteen. The US ten year

602
00:32:12,560 --> 00:32:15,120
Speaker 1: old at one point three percent, Gold is down three

603
00:32:15,160 --> 00:32:18,000
Speaker 1: Oil is a little changed. Big Coin is trading higher

604
00:32:18,040 --> 00:32:20,959
Speaker 1: by point nine percent. Hong Kong rose three point four

605
00:32:21,040 --> 00:32:23,640
Speaker 1: percent overnight, while up and markets are trading mixed right

606
00:32:23,680 --> 00:32:26,040
Speaker 1: now and back in the US on the Economic funda

607
00:32:26,080 --> 00:32:28,320
Speaker 1: eight thirty initial job this claims and the Philly Fed

608
00:32:28,640 --> 00:32:31,840
Speaker 1: and at ten o'clock existing home sales after de Bellos,

609
00:32:31,880 --> 00:32:35,320
Speaker 1: Nate alca EPs speed estimates and United Airlines Q for

610
00:32:35,440 --> 00:32:39,640
Speaker 1: operating revenue also beat estimates. In deal news, Chesspeak Energy

611
00:32:39,720 --> 00:32:41,840
Speaker 1: nears a two point four billion dollar deal to buy

612
00:32:41,960 --> 00:32:45,280
Speaker 1: Chief Oil and Gas, and another news Google is forming

613
00:32:45,360 --> 00:32:48,320
Speaker 1: a blockchain group wrapping things up. Forward was cut to

614
00:32:48,360 --> 00:32:50,920
Speaker 1: hold over at Jeffreys, Etc. Raised over a key bank.

615
00:32:51,320 --> 00:32:54,200
Speaker 1: Us ban Corporate was cutting market perform at KBW, and

616
00:32:54,400 --> 00:32:57,880
Speaker 1: am D was cut to neutral over at Piper Live

617
00:32:58,000 --> 00:33:00,200
Speaker 1: from the first third breaking news, dostcomb but Maloney care

618
00:33:00,560 --> 00:33:02,320
Speaker 1: all right, Bill, thank you to hear live breaking news

619
00:33:02,400 --> 00:33:05,160
Speaker 1: of her Bloomberg. Have squawk on your terminal scue you

620
00:33:05,360 --> 00:33:07,760
Speaker 1: a w K and that's a Bloomberg business flash. Now

621
00:33:07,800 --> 00:33:10,120
Speaker 1: here's Michael Barr with more on what's going on around

622
00:33:10,160 --> 00:33:12,840
Speaker 1: the world. Michael Karen, thank you very much. Despite a

623
00:33:13,000 --> 00:33:15,920
Speaker 1: last minute attempt from Senate Majority Leader Chuck Schumer er

624
00:33:16,000 --> 00:33:20,720
Speaker 1: overhaul Senate filibuster rules, voting rights legislation has once again failed.

625
00:33:20,720 --> 00:33:24,920
Speaker 1: In the Senate. Republicans have blocked voting rights legislation. There

626
00:33:25,080 --> 00:33:28,280
Speaker 1: was Senate debate, but every single Republican went on the

627
00:33:28,320 --> 00:33:31,400
Speaker 1: record voting against it. The U Supreme Court cleared the

628
00:33:31,400 --> 00:33:34,360
Speaker 1: way for some of former President Donald Trump's White House

629
00:33:34,400 --> 00:33:37,840
Speaker 1: papers to be turned over to a congressional panel investigating

630
00:33:37,880 --> 00:33:42,200
Speaker 1: the January sixth capital attack. The justices rejected Trump's bid

631
00:33:42,280 --> 00:33:45,440
Speaker 1: to block the release on grounds of executive privilege. In

632
00:33:45,520 --> 00:33:48,440
Speaker 1: the NBA, the Nets beat the Wizards one nine one eighteen,

633
00:33:48,520 --> 00:33:51,120
Speaker 1: the Celtics lost in the NHL. The Rangers won. The

634
00:33:51,200 --> 00:33:54,120
Speaker 1: Devil's Lost. Global News twenty four hours a day on

635
00:33:54,360 --> 00:33:57,239
Speaker 1: air and on Bloomberg Quick Thank, powered by more than

636
00:33:57,320 --> 00:33:59,840
Speaker 1: twenty seven under journalist and analysts more than a hundred

637
00:34:00,040 --> 00:34:03,560
Speaker 1: the countries. I'm Michael Barr. This is Bloomberg. The following

638
00:34:03,640 --> 00:34:09,080
Speaker 1: commentary is from Bloomberg Opinion Incomplete. I'm Jonathan Bernstein, a

639
00:34:09,160 --> 00:34:13,160
Speaker 1: columnist from Bloomberg Opinion. Here's a reader's guide for evaluations

640
00:34:13,239 --> 00:34:16,080
Speaker 1: of Joe Biden's first year in office, beyond the obvious

641
00:34:16,080 --> 00:34:19,680
Speaker 1: advice to be wary of partisan cheers or jeers. First,

642
00:34:19,920 --> 00:34:23,080
Speaker 1: while presidents are surely the single most important players in

643
00:34:23,160 --> 00:34:27,680
Speaker 1: US politics, that's all, they are, single players. Evaluations that

644
00:34:27,760 --> 00:34:31,440
Speaker 1: ignore the context the president's work in are useless. Then

645
00:34:31,520 --> 00:34:34,160
Speaker 1: be sure that any evaluation is clear about the differences

646
00:34:34,239 --> 00:34:39,800
Speaker 1: between the president, the president c and the larger political system. Congress,

647
00:34:39,880 --> 00:34:43,080
Speaker 1: not the president, passes legislation. It's fair to consider how

648
00:34:43,160 --> 00:34:45,880
Speaker 1: a president influenced Congress, but not to assume that whatever

649
00:34:45,960 --> 00:34:49,600
Speaker 1: happened must have been what the president wanted. Be alert

650
00:34:49,680 --> 00:34:53,360
Speaker 1: for the pundit's fallacy, the certainty that success requires support

651
00:34:53,400 --> 00:34:56,840
Speaker 1: for the pundit's ideas. Even more tempting is an approval

652
00:34:56,920 --> 00:35:00,160
Speaker 1: rating effect, with all actions interpreted as successes, with things

653
00:35:00,200 --> 00:35:03,000
Speaker 1: are going well and mistakes when they're not. Some things

654
00:35:03,040 --> 00:35:05,320
Speaker 1: haven't played out yet. An important information as yet to

655
00:35:05,360 --> 00:35:08,960
Speaker 1: become public. The grade most presidents deserve after one year

656
00:35:09,200 --> 00:35:12,960
Speaker 1: is incomplete. I'm Jonathan Bernstein. For more opinion, please go

657
00:35:13,000 --> 00:35:15,520
Speaker 1: to Bloomberg dot com, slash Opinion or O P A

658
00:35:15,680 --> 00:35:18,799
Speaker 1: n go on the Bloomberg terminal. This has been Bloomberg

659
00:35:18,880 --> 00:35:22,640
Speaker 1: Opinion and Bloomberg Opinion commentaries can be heard every weekday

660
00:35:22,680 --> 00:35:25,279
Speaker 1: at this time, and terminal customers can read more at

661
00:35:25,360 --> 00:35:28,279
Speaker 1: O P I n go. It is X fifty on

662
00:35:28,400 --> 00:35:31,000
Speaker 1: Wall Street. Let's turned to news and science and technology

663
00:35:31,080 --> 00:35:33,680
Speaker 1: now at the Bloomberg n j I T STEM report

664
00:35:33,719 --> 00:35:36,520
Speaker 1: brought to you by New Jersey Institute of Technology, which

665
00:35:36,520 --> 00:35:40,040
Speaker 1: announced that renounced scholar and educational leader Dr Tech Limb

666
00:35:40,239 --> 00:35:42,400
Speaker 1: will join the university as n j I T s

667
00:35:42,440 --> 00:35:45,200
Speaker 1: ninth President. Learn more at n j I T dot

668
00:35:45,280 --> 00:35:48,920
Speaker 1: e DU now Here's its making news and science, technology, engineering,

669
00:35:49,000 --> 00:35:52,600
Speaker 1: and math. Deep in the South Pacific, scientists have explored

670
00:35:52,640 --> 00:35:55,799
Speaker 1: a rare stretch of pristine coral shaped like roses off

671
00:35:55,840 --> 00:35:58,239
Speaker 1: the coast of Tahiti. The reef is thought to be

672
00:35:58,360 --> 00:36:01,320
Speaker 1: one of the largest found is such depths and seems

673
00:36:01,440 --> 00:36:05,680
Speaker 1: untouched by climate change or human activities. Globally, coral reefs

674
00:36:05,719 --> 00:36:09,080
Speaker 1: have been depleted from over fishing and pollution. Climate change

675
00:36:09,160 --> 00:36:12,480
Speaker 1: is also harming delicate corals, with severe bleaching caused by

676
00:36:12,560 --> 00:36:16,000
Speaker 1: warmer waters. A first for Amazon, the company said it

677
00:36:16,080 --> 00:36:18,600
Speaker 1: plans to open a clothing store in a southern California

678
00:36:18,640 --> 00:36:22,000
Speaker 1: mall later this year. Shoppers will get to personalized or

679
00:36:22,080 --> 00:36:25,520
Speaker 1: get personalized recommendations pushed to their phones as they browsed

680
00:36:25,560 --> 00:36:28,960
Speaker 1: the new Amazon style store, stocked mostly with non Amazon

681
00:36:29,080 --> 00:36:32,759
Speaker 1: fashion labels. The store will be about thirty thousand square feet,

682
00:36:32,840 --> 00:36:35,319
Speaker 1: similar in size to a Coal's, but about one third

683
00:36:35,360 --> 00:36:38,359
Speaker 1: the size of other department stores like Macy's and An

684
00:36:38,480 --> 00:36:41,319
Speaker 1: n f T startup co founded by pro football star

685
00:36:41,440 --> 00:36:44,399
Speaker 1: Tom Brady, raised one seventy million dollars in a round

686
00:36:44,440 --> 00:36:47,680
Speaker 1: of funding. The company called Autograph, partners with athletes to

687
00:36:47,760 --> 00:36:51,160
Speaker 1: create digital collectibles. Brady has been one of the highest

688
00:36:51,239 --> 00:36:55,120
Speaker 1: profile advocates from the world of sports and entertainment for cryptocurrencies,

689
00:36:55,400 --> 00:36:58,600
Speaker 1: and that's a Bloomberg and j I t Stem report Nathan,

690
00:36:58,840 --> 00:37:01,280
Speaker 1: thank you, Karen. We are I from the Bloomberg Interactive

691
00:37:01,280 --> 00:37:03,800
Speaker 1: Broker Studios or at six fifty two on Wall Street

692
00:37:03,840 --> 00:37:05,360
Speaker 1: Time Now to check what's going on in d C.

693
00:37:05,880 --> 00:37:08,200
Speaker 1: Some of the top stories in our nation's capital include

694
00:37:08,239 --> 00:37:11,400
Speaker 1: Senate Republicans blocking voting rights legislation, setting up a long

695
00:37:11,440 --> 00:37:14,160
Speaker 1: shot effort to change the rules, the Supreme Court clearing

696
00:37:14,200 --> 00:37:17,400
Speaker 1: the release of some of former President Trump's January six records,

697
00:37:17,760 --> 00:37:20,759
Speaker 1: and President Biden defending his record as he heads into

698
00:37:20,920 --> 00:37:23,440
Speaker 1: his second year in office. We have faced some of

699
00:37:23,520 --> 00:37:26,600
Speaker 1: the biggest challenges that we've ever faced in this country

700
00:37:27,000 --> 00:37:30,880
Speaker 1: these past few years. Challenges to our public health, challenges

701
00:37:30,960 --> 00:37:34,080
Speaker 1: to our economy. We're getting through. Let's get more now

702
00:37:34,160 --> 00:37:36,440
Speaker 1: on the president's news conference and all that's happening in

703
00:37:36,480 --> 00:37:40,440
Speaker 1: the nation's capital with Bloomberg Government reporter Emily Wilkins. Emily,

704
00:37:40,560 --> 00:37:44,040
Speaker 1: it was nearly two hours. The President faced questions from

705
00:37:44,080 --> 00:37:47,719
Speaker 1: reporters yesterday. A lot to unpack and a lot of

706
00:37:47,840 --> 00:37:51,359
Speaker 1: expectation or a sense that the president needs to recalibrate.

707
00:37:51,480 --> 00:37:55,839
Speaker 1: But he says that he's staying on his current track. Yeah,

708
00:37:55,960 --> 00:37:57,960
Speaker 1: I didn't really double down on a lot of the

709
00:37:58,040 --> 00:38:02,920
Speaker 1: more questions about presidency about what he needs to do Differently.

710
00:38:03,600 --> 00:38:05,800
Speaker 1: Near the end, he was sort of indicating that he

711
00:38:06,000 --> 00:38:07,759
Speaker 1: was going to try to get out to talk to

712
00:38:07,840 --> 00:38:10,120
Speaker 1: the American people more, that that was a change that

713
00:38:10,239 --> 00:38:12,880
Speaker 1: he was planning to make. UM, But he did make

714
00:38:12,920 --> 00:38:15,600
Speaker 1: a little bit of news with the presser. He seemed

715
00:38:15,600 --> 00:38:18,000
Speaker 1: to indicate that he was open to breaking up his

716
00:38:18,080 --> 00:38:21,560
Speaker 1: signature of social policy and tax bill into smaller pieces

717
00:38:21,680 --> 00:38:25,399
Speaker 1: that could then pass through Congress, and he also talked

718
00:38:25,440 --> 00:38:29,160
Speaker 1: a little bit about Russia. UM. He mentioned that the

719
00:38:29,320 --> 00:38:32,520
Speaker 1: U S and UH their allies have yet to agree

720
00:38:32,640 --> 00:38:35,759
Speaker 1: on how to hold Moscow accountable for what he called

721
00:38:35,840 --> 00:38:40,960
Speaker 1: a minor incursion, and that remark immediately White House or

722
00:38:41,080 --> 00:38:44,520
Speaker 1: other officials and common people jumped on that remark, said

723
00:38:44,560 --> 00:38:47,640
Speaker 1: they were clarifying that there would definitely be swift action.

724
00:38:47,800 --> 00:38:50,879
Speaker 1: But that raised a lot of right eyebrows and red

725
00:38:50,960 --> 00:38:54,640
Speaker 1: flags just because the US is posture on Russia and

726
00:38:54,840 --> 00:38:57,439
Speaker 1: Ukraine has tried to be one of you know, trying

727
00:38:57,520 --> 00:38:59,719
Speaker 1: to be as strong as possible. That's sort of the

728
00:39:00,080 --> 00:39:03,080
Speaker 1: position that they're trying to negotiate from UH, and the

729
00:39:03,239 --> 00:39:07,800
Speaker 1: remark like this could potentially undercut uh, the the opinion

730
00:39:07,880 --> 00:39:10,080
Speaker 1: of what the US will do, the threat of the

731
00:39:10,280 --> 00:39:15,239
Speaker 1: US up retaliating shared Russia in Vaine. So, coming after

732
00:39:15,360 --> 00:39:18,680
Speaker 1: this news conference, Emily, where does this leave President Biden

733
00:39:18,719 --> 00:39:20,960
Speaker 1: positioned as he heads into year two? What are you

734
00:39:21,000 --> 00:39:24,520
Speaker 1: gonna be watching for? So? I think one of the

735
00:39:24,800 --> 00:39:27,680
Speaker 1: things to be watching for is exactly what does happen

736
00:39:27,880 --> 00:39:31,600
Speaker 1: with that social spending and tax package UM. Certainly that's

737
00:39:31,680 --> 00:39:34,880
Speaker 1: really one area that Biden has control over delivering. It

738
00:39:34,960 --> 00:39:37,640
Speaker 1: will be also interesting to see whether the White House

739
00:39:37,680 --> 00:39:42,400
Speaker 1: tries to do more to address the economic indicators with inflation,

740
00:39:42,840 --> 00:39:47,800
Speaker 1: with the economy, with jobs UM, as well as with coronavirus.

741
00:39:48,040 --> 00:39:50,960
Speaker 1: If they do, if there is another surge, is the

742
00:39:51,000 --> 00:39:54,160
Speaker 1: administration prepared um this last time? They were really caught

743
00:39:54,200 --> 00:39:56,600
Speaker 1: flat footed when it came to O Macron and to

744
00:39:56,680 --> 00:39:59,080
Speaker 1: have the testing that they needed. You know, a lot

745
00:39:59,160 --> 00:40:02,200
Speaker 1: of the things here for for Biden that he's grappling with,

746
00:40:03,000 --> 00:40:05,919
Speaker 1: you know, they're somewhat outside the ability for the White

747
00:40:05,960 --> 00:40:09,440
Speaker 1: House to see control and to navigate. But that doesn't

748
00:40:09,480 --> 00:40:11,279
Speaker 1: really matter to voters at the end of the day.

749
00:40:11,360 --> 00:40:13,480
Speaker 1: If they feel like they're worse off than they were

750
00:40:13,560 --> 00:40:16,480
Speaker 1: four years ago, Uh, and Biden clearly in trouble. We

751
00:40:16,560 --> 00:40:20,160
Speaker 1: are seeing some of the highest disapproval numbers for him

752
00:40:20,400 --> 00:40:23,640
Speaker 1: this morning, and in fact, one pole is actually showing

753
00:40:23,800 --> 00:40:27,200
Speaker 1: that only precent of Democrats want him to run again,

754
00:40:27,400 --> 00:40:30,800
Speaker 1: So less than half of his own party actually wants

755
00:40:30,880 --> 00:40:34,600
Speaker 1: to see Biden run in And as you mentioned, it

756
00:40:34,719 --> 00:40:37,399
Speaker 1: sounds like President Biden is hoping to get those poll

757
00:40:37,520 --> 00:40:40,439
Speaker 1: numbers back up by getting out on the road. More.

758
00:40:40,680 --> 00:40:44,239
Speaker 1: Where does that leave Congress? I mean, his agenda still

759
00:40:44,280 --> 00:40:47,200
Speaker 1: has to be enacted in a lot of respects on

760
00:40:47,400 --> 00:40:51,640
Speaker 1: Capitol Hill, and we just saw yesterday that voting rights legislation,

761
00:40:51,840 --> 00:40:55,239
Speaker 1: his latest piece of a domestic agenda, has come up

762
00:40:55,360 --> 00:40:59,400
Speaker 1: short as well. I mean, to be blunt, Nathan, there's

763
00:40:59,440 --> 00:41:01,320
Speaker 1: no role that said that the president has to be

764
00:41:01,440 --> 00:41:04,400
Speaker 1: in Washington v seat for Congress to pass legislation. Um

765
00:41:04,800 --> 00:41:06,880
Speaker 1: being Congress kind of can do its own thing and

766
00:41:06,960 --> 00:41:09,880
Speaker 1: then side. It could just side on the dotted line. Certainly,

767
00:41:10,040 --> 00:41:13,120
Speaker 1: as you expect Biden to be involved in these negotiations,

768
00:41:13,280 --> 00:41:16,520
Speaker 1: you see him come to Capitol Hill numerous times. But

769
00:41:16,719 --> 00:41:19,440
Speaker 1: after his trips to Capitol Hill, it doesn't seem to

770
00:41:19,560 --> 00:41:23,280
Speaker 1: do anything. He visits the Senate. They still didn't pass

771
00:41:23,360 --> 00:41:26,279
Speaker 1: that role changed the Voting Rights Act. He visited the

772
00:41:26,320 --> 00:41:29,480
Speaker 1: House um over the Build Back Better plan that that

773
00:41:29,719 --> 00:41:33,360
Speaker 1: is currently solved. So it doesn't seem like Biden's direct

774
00:41:33,520 --> 00:41:36,680
Speaker 1: interactions the moments he comes to Capitol Hill I really

775
00:41:36,800 --> 00:41:40,200
Speaker 1: panned out for him the way that the administration probably hoped.

776
00:41:40,600 --> 00:41:44,160
Speaker 1: So it might not make a huge difference. One thing

777
00:41:44,200 --> 00:41:47,359
Speaker 1: I'm am interested to see is if lawmakers who are

778
00:41:47,480 --> 00:41:50,520
Speaker 1: vcing re election want to campaign with Biden, if they

779
00:41:50,640 --> 00:41:53,680
Speaker 1: want Biden to come to their districts. Uh. If Biden's

780
00:41:53,719 --> 00:41:56,640
Speaker 1: poll numbers continue to decline or even stay at their

781
00:41:56,719 --> 00:42:00,680
Speaker 1: current level, uh, there could be Democrats in elite, critical

782
00:42:00,760 --> 00:42:03,000
Speaker 1: sweep stata districts who say, you know what, You're just

783
00:42:03,120 --> 00:42:06,320
Speaker 1: not popular here, Please don't come in campaign with me.

784
00:42:06,560 --> 00:42:09,400
Speaker 1: So that that'll be an interesting dynamic to watch going beforeward.

785
00:42:09,719 --> 00:42:12,920
Speaker 1: Bloomberg Government reporter Emily Wilkins as we head into year

786
00:42:12,960 --> 00:42:16,120
Speaker 1: two of the Biden presidency. Emily, thanks as always, and

787
00:42:16,160 --> 00:42:18,120
Speaker 1: you can read more about these stories of Bloomberg dot

788
00:42:18,160 --> 00:42:20,960
Speaker 1: com or on the Bloomberg terminal and listen to Bloomberg

789
00:42:21,040 --> 00:42:25,160
Speaker 1: Radio in Washington. Bloomberg and one oh five point seven

790
00:42:25,280 --> 00:42:28,440
Speaker 1: FM HD two. So earnings crossing the Bloomberg terminal from

791
00:42:28,560 --> 00:42:33,280
Speaker 1: Travelers fourth quarter earnings per share beat the AFA Channaalist estimate.

792
00:42:33,800 --> 00:42:36,719
Speaker 1: Much more on that and all the earnings picture and

793
00:42:36,920 --> 00:42:42,040
Speaker 1: markets with Bloomberg Surveillance, Tom Keene, Jonathan Farrell, and Lisa Bramwooz.

794
00:42:42,120 --> 00:42:45,560
Speaker 1: That's coming up next for Karen Moscow. I'm Nathan Hagar,

795
00:42:45,680 --> 00:42:47,840
Speaker 1: and this is Bloomberg