Speaker 1: Live from the Bloomberg Interacted Berger Studios, as is Bloomberg
Speaker 1: day Break for Thursday, January two. Coming up this hour.
Speaker 1: Markets stabilized as the global bond sell off easy, President
Speaker 1: Biden Lawrence Russia may move in on Ukraine. The lighthouse
Speaker 1: push on voting rights collapses in the Senate, and the
Speaker 1: Supreme Court has a defeat to former President Donald Trump.
Speaker 1: New York Mayor Adams says enough is enough after an
Speaker 1: eleven month old child was hit by a stray bullets.
Speaker 1: New Jersey Man dates booster shots for healthcare workers. I'm
Speaker 1: Michael bloom Ahead, John Stasharn, Sports Cayrie every Land the
Speaker 1: next to a win in Washington, another win for the Rangers,
Speaker 1: the Devil's Laws, so did st John. That's all straight
Speaker 1: ahead on Bloomberg day Break on Bloomberg ELEMENTARYO, New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen
Speaker 1: and around the world Lon Bloomberg Radio dot Com and
Speaker 1: via The Bloomberg Business A good morning. I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow. US Future is on the rise
Speaker 1: this morning after yesterday sell off. We're coming up to
Speaker 1: six o one on Wall Street, and we checked the
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg,
Speaker 1: SNP Future is up twenty two points, Staff futures up
Speaker 1: a hundred thirty nine and NASDAG features up one eye.
Speaker 1: The decks in Germany is now little change. Ten year
Speaker 1: treasury up eight thirty seconds, held one point eight three percent,
Speaker 1: yield on the two year one point oh three percent,
Speaker 1: and I Max screwed oil is down three tons percent.
Speaker 1: Nathan karen Us futures are stable for now after the
Speaker 1: NASDAC ended yesterday in correction territory. Let's get more on
Speaker 1: this market action live with Bloomberg's John Tucker, John Nathan.
Speaker 1: The tech heavy NASTAC is now down ten point seven
Speaker 1: percent since its November peak. It fell more than one
Speaker 1: percent yesterday's sashion This morning, the global sovereign bond sell
Speaker 1: off has paused, and that may have ended the slide
Speaker 1: in equities for now. Vot to reserve. Governor Christopher Wallers's
Speaker 1: policy makers are unlikely to opt for a bigger than
Speaker 1: expected rate increase in March. Investor focus has also turned
Speaker 1: to corporate earnings. We've had upbeat earnings results from Morgan Stanley,
Speaker 1: United Health, and Proctor and Gamble. There's still plenty of
Speaker 1: worry though. Strategist at HSBC just cut the recommendation on
Speaker 1: US docks the neutral from overweight. Live in New York,
Speaker 1: I'm John Tucker Bloomberg, debreak. All right, John, thank you.
Speaker 1: He turned to Capitol Hill now for another major story where,
Speaker 1: following President Biden's push for voting rights, legislation has collapsed
Speaker 1: in the Senate, and Amy Morris has the details from
Speaker 1: mar Bloomberg ninety nine one newsroom in Washington. First, Republicans
Speaker 1: used Senate filibuster rules to block the legislation, which includes
Speaker 1: the Freedom to Vote Act and a measure requiring states
Speaker 1: to get pre clearance to change their voting laws. When
Speaker 1: Majority leader Chuck Schumer tried to change the rule to
Speaker 1: allow a simple majority vote, Democrats Joe Manchin and Kirsten
Speaker 1: Cinema voted against it. Earlier, President Biden had said that
Speaker 1: Democrats would likely have to break up the voting rights
Speaker 1: bill and his economic agenda, which is stalled to get
Speaker 1: any of it through Congress. In Washington, I'm Amy Morris
Speaker 1: Bloomberg Daybreak and amy. That voting rights defeat came after
Speaker 1: a wide ranging news conference marking the end of President
Speaker 1: Biden's first year in office. He faced questions on everything
Speaker 1: from the pandemic to his stalled economic agenda and pensions
Speaker 1: with Russia. On many of those issues, the President says
Speaker 1: he's outperformed expectations. I don't think I've overpromised at all,
Speaker 1: and I'm gonna case stay on this track. Still. The
Speaker 1: President did acknowledge Americans are frustrated by the pandemic and
Speaker 1: rising prices. He says it's up to the Federal Reserve
Speaker 1: to get inflation under control. Given the strength of our
Speaker 1: economy and the pace of recent price increases, it's appropriate
Speaker 1: as a Federal Chairman, Chairman Pal, the FED Chairman Paal
Speaker 1: has indicated to recalibrate the support that is now necessary.
Speaker 1: President also says Russia could move in on Ukraine. How
Speaker 1: the US and NATO respond, he says, depends on what
Speaker 1: Russia does one my in you incursion, and then we
Speaker 1: end up having to fight about what to do and
Speaker 1: not do, etcetera. But if they actually do what they're
Speaker 1: capable of doing with the forced amass on the border.
Speaker 1: It is going to be a disaster for Russian After
Speaker 1: the news conference, the White House clarified that any Russian
Speaker 1: troop movement across the Ukrainian border would be met with
Speaker 1: a swift, severe, and united response. Well, Nathan plenty of
Speaker 1: reaction to President Biden's news conference, especially as comments on Russia.
Speaker 1: And here's Bloomberg Politics contributor Rick Davis. When you're dealing
Speaker 1: with foreign policy signals and how clear they are are
Speaker 1: really critical to the outcomes. If Vladimir Putin was watching
Speaker 1: that press conference, I'm thinking he goes back to his
Speaker 1: advisors that, yeah, did he just give me permission to
Speaker 1: roll across the border? And Bloomberg Politics contributor Rick Davis
Speaker 1: spoke with our Washington correspondent Joe Matthew on Bloomberg Sound
Speaker 1: on Catch the program weekdays at five pm Eastern on
Speaker 1: Bloomberg Radio. Let meantime caring at the Supreme Court, former
Speaker 1: President Donald Trump has suffered a defeat. Justice has cleared
Speaker 1: the release of some White House documents related to the
Speaker 1: January sixth insurrection. Bloomberg said Baxter has the story, so
Speaker 1: the documents can be released to the January Sixth House
Speaker 1: Committee investigating the attempt at insurrection of the Capitol. National
Speaker 1: Archives can now turn over about eight hundred pages of material,
Speaker 1: including visitor and call logs, emails, draft speeches, and handwritten notes.
Speaker 1: Trump was trying to override President by his decision to
Speaker 1: way of executive privilege, but the Court decided to side
Speaker 1: with the committee. Clarence Thomas was the only dissent. In
Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak, All right and
Speaker 1: thank you Well. Outside of politics are also focused on
Speaker 1: the controversial rollout of five G. So far, the country
Speaker 1: has avoided major airline disruptions tied to the service, and
Speaker 1: we get the latest life from Bloomberg's ny A Young,
Speaker 1: Good Morning, Ready to good morning, Karen. The f a
Speaker 1: A is clearing about six of the US aviation fleet
Speaker 1: to operate at airports without fear of five G interference,
Speaker 1: and the new safety measures also increased the number of
Speaker 1: airports where flights can safely operate. The agencies list of
Speaker 1: cleared aircraft includes most Boeing and Airbus models, but what
Speaker 1: you won't see on the list are any of the
Speaker 1: regional jet models that perform roughly half of all scheduled
Speaker 1: airline flights now. While the US avoided major disruptions on
Speaker 1: the first official day of five G service, the f
Speaker 1: a A warrants that disruptions to flights are still possible.
Speaker 1: Live in New York, I'm gonna need a young Bloomberg
Speaker 1: day Break, Okay, Nita, Thanks. Let's get back to markets now,
Speaker 1: where the focus is on earnings this week. Up next,
Speaker 1: Netflix reports results after the closing bell. Let's get a
Speaker 1: preview from Bloomberg's Tom Busby. The big focus for investors
Speaker 1: in Netflix's fourth quarter earnings report is subscriber editions in
Speaker 1: the final three months of twenty twenty one and its
Speaker 1: forecast for the current quarter. In light of the price
Speaker 1: Hi Get just announced for U S subscribers. Bloomberg estimates
Speaker 1: eight point three million more global ads last quarters, slightly
Speaker 1: below the streaming giants own prediction of eight point five
Speaker 1: million editions. Revenue forecast to be seven point seven one
Speaker 1: billion dollars, with earnings per share estimated at eighty cents.
Speaker 1: Tom Busby bloom Burg Daybreak. All right, Tom, thank you.
Speaker 1: And big tech also a focus right now on Capitol Hill,
Speaker 1: a tech focused antitrust villain the Senate has been expanded
Speaker 1: to include China's two biggest social media companies. Lawmakers added
Speaker 1: TikTok and we ch Out to the measure after criticism
Speaker 1: the legislation would give an advantage to foreign firms. And
Speaker 1: this is Bloomberg, right, Karen, thanks six o seven on
Speaker 1: Wall Street, rain and forty degrees in Central Park for
Speaker 1: that rain is gonna change over into snow this morning.
Speaker 1: We're under a winter weather advisory and it is slippery
Speaker 1: on the roads. We'll get details on all the accidents
Speaker 1: come up in traffic shortly. First Michael Barr with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. The Dry State area,
Speaker 1: as you mentioned, getting another dose of winter weather Bloomberg.
Speaker 1: Meteor relogious Rob Carolin as the latest, Michael. The National
Speaker 1: Weather Service has a winter weather advisory effect for the
Speaker 1: city in parts in New Jersey this morning. A cool
Speaker 1: front is going to cross the area. That's gonna change
Speaker 1: any rain over to some wet snow. Right now, it
Speaker 1: looks like the accumulations will be limited according to me,
Speaker 1: be as much is two inches, especially across some of
Speaker 1: the higher hilltops in northwestern New Jersey. Precipitation should be
Speaker 1: done by midday. Temperatures will be falling, so folks need
Speaker 1: to be careful because there will be some slick spots,
Speaker 1: especially this afternoon. Michael, thank you very much. Rob. New
Speaker 1: York Mayor Eric Adams says enough is enough after an
Speaker 1: eleven month old child is in critical but stable condition
Speaker 1: after she was struck in the face by a stray bullet.
Speaker 1: The child was in a parked car with her mother
Speaker 1: while her father went into a grocery store. Police say
Speaker 1: a man chasing another ran and opened fire, and then
Speaker 1: the bullet struck the child in the bronx. Adams, who
Speaker 1: campaigned on a pledge to make the city safer, spoke
Speaker 1: to reporters after meeting the girls parents at the hospital.
Speaker 1: It was a total disregard for the innocent people who
Speaker 1: are walk into these streets. This is not the city
Speaker 1: how children should grow up in. Mayor Adams says he's
Speaker 1: going to stay in the streets until the city is safe.
Speaker 1: New York City officials want to send drivers and cyclists
Speaker 1: a message lax enforcement of traffic rules is ending. Mayor
Speaker 1: Adams said the city is launching a multimillion dollar ad
Speaker 1: campaign to highlight pedestrian safety initiatives and a new traffic
Speaker 1: rule requiring cyclists and drivers to come to a complete
Speaker 1: stop at all intersections. Adam says people must learn the
Speaker 1: rules of the road or get off the road. New
Speaker 1: Jersey Governor Phil Murphy says he will require healthcare workers
Speaker 1: and employees in nursing homes and prisons to get fully
Speaker 1: vaccinated and boosted against COVID nineteen, dropping an option to
Speaker 1: either get the shot to be tested. This is an
Speaker 1: unfathomable number. Roughly five thousand New Jersey ands have tested
Speaker 1: positive for COVID, and overwhelmingly with the omicron variant. Governor
Speaker 1: Murphy says that healthcare workers who are unvaccinated will have
Speaker 1: until next Thursday to get their first shot. Until the
Speaker 1: end of February for their second Global news twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty seven hundred journalists and analysts, are
Speaker 1: more than a countries. Michael Bard, this is Bloomberg, ain't it?
Speaker 1: Thanks Michael, coming up to six ten on Wall Street
Speaker 1: time for the Bloomberg Sports Update with John's thanks. Nathan
Speaker 1: Rangers went on a long road trip one three or
Speaker 1: five back at the Garden, first time in over two weeks,
Speaker 1: another win for the Blue Church. They were down three
Speaker 1: to one, they came back and beat Toronto six to three,
Speaker 1: their twenties sixth win of the season only ten losses.
Speaker 1: Ryan Reads for his first two goals as a Ranger,
Speaker 1: Adam Fox scored a pair, and Chris Cryer got his
Speaker 1: twenty five of the season. Devils lost their third in
Speaker 1: a row, beating home by Arizona four to one. Nets
Speaker 1: in Washington. A road game means the Kyrie Irving game.
Speaker 1: Good thing for Brooklyn. He scored thirty points. The Nets
Speaker 1: hung on top the Wizards one eight team the Marcus
Speaker 1: Aldridge at twenty seven Nicks row and two on this
Speaker 1: homestand tonight they take on New Orleans and Philadelphia. The Sixers.
Speaker 1: Joe lm be limited only twenty seven minutes due to
Speaker 1: an injury, still scored fifty points in a win over Orlando.
Speaker 1: Another center Nikola Yoki's forty nine points in a triple double,
Speaker 1: and Denverse two point win over the l A Clippers.
Speaker 1: The Lakers keep losing, and they fell at home to Indiana.
Speaker 1: Lakers have lost four or five under five hundred they
Speaker 1: insist they have no plans to fire their coach. Frank Vogel.
Speaker 1: St John's went out to Omaha, got blown out by
Speaker 1: Creighton eighties seven sixty four. Villanova up set at home
Speaker 1: by Marquette. Rutgers topped Iowa, low scoring affair forty six
Speaker 1: Australian Open. Daniel Medvedev is playing now against fiance Nick Karios.
Speaker 1: Medvedev leads two sets to one. Giants said they would
Speaker 1: hire a general manager and then worry about getting a coach,
Speaker 1: and yet they have received permission to interview a coaching candidate.
Speaker 1: Dan Quinn, former Atlanta coach, now the defensive coordinator in Dallas.
Speaker 1: John Stash, Howard Bloomberg Sports, Nathan all Right, John, thank
Speaker 1: you right now. S and P futures are up twenty
Speaker 1: five point, Staff futures up a hundred fifty nine, NASTAC
Speaker 1: futures on the rise by a hundred twenty six points.
Speaker 1: The ten year treasury is up seven thirty seconds, the
Speaker 1: yield one point eight three percent, and the yield on
Speaker 1: the two year right now one point zero percent. You're
Speaker 1: listening to Bloomberg, Gabriel Bloomberg eleven three oh weather rain
Speaker 1: changes to snow this morning ties in the low forties.
Speaker 1: Temperatures falling through the day. By tomorrow will only be
Speaker 1: in the low twenties for highs upper twenties by Saturday.
Speaker 1: Currently rain and forty in Central Park markets. Headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot
Speaker 1: com the Bloomberg Business and at Bloomberg Quick Tape is
Speaker 1: a Bloomberg Business lash and I'm Karen Moscow and US
Speaker 1: dot index futures are on the rise this morning. European
Speaker 1: the stocks have trimmed their losses and moved higher. Now
Speaker 1: this is a global sovereign bond sell off, pauses and
Speaker 1: investors turn their focus to corporate earnings. We checked the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg
Speaker 1: Guess and P futures at twenty seven points this morning.
Speaker 1: Down futures have one seven seven Nasdack futures of one
Speaker 1: hundred forty and the decks in Germany is now up
Speaker 1: to tens of upper set and your treasury of e
Speaker 1: thirty seconds. He had three percent, they yelled on the
Speaker 1: two year one oh three percent. Nimex screwed oils down
Speaker 1: a third of percent or twenty eight cents at eighty
Speaker 1: six dollars sixty eight cents a barrel. Comic Gold down
Speaker 1: a third of a percent as well, down six dollars
Speaker 1: ten cents at eighteen thirty nine forty announced and as
Speaker 1: a Bloomberg Business flashdown, here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. President Joe Biden says he thinks Russia will
Speaker 1: invade Ukraine during his news conference yesterday. Biden also warned
Speaker 1: President Vladimir Putin that his country would pay a dear
Speaker 1: price in lives lost and a possible cut off from
Speaker 1: the global banking system if it does ask for NATO.
Speaker 1: The likelihood that Ukraine is going to join NATO in
Speaker 1: the near term is not very like. President Biden also
Speaker 1: said a minor incursion by Russia would elicit a lesser response.
Speaker 1: He later sought to clarify that he was referring to
Speaker 1: a non military action, such as a cyber attack. The NBA,
Speaker 1: the Nets beat the Wizards on the Celtics lost NHL,
Speaker 1: The Rangers won, The Devil's Lost. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick take
Speaker 1: powered by more than hundred journalists and analysts in more
Speaker 1: than one hundred twenty countries. Michael Barr and this is
Speaker 1: Bloomberg NA. Thanks Michael. It's six nineteen on Wall Street
Speaker 1: Live from the Bloomberg Interractor Broker Studios. This is Bloomberg
Speaker 1: Day Break. Let's take a look at markets now and
Speaker 1: the long term outlook for risk assets. Inflation concerns are
Speaker 1: leading to worries about tightening from the Fed, and this
Speaker 1: time last year the forecast was for no rate increases
Speaker 1: this year. Now predictions have the Central Bank hiking anywhere
Speaker 1: from fifty to a hundred twenty five basis points by December,
Speaker 1: and that has led to volatility and rate and equities markets,
Speaker 1: particularly in high growth tech stocks. For more, let's get
Speaker 1: the view from the head of Fidelity International CEO and
Speaker 1: Richards sat down this morning for an interview with Bloomberg's
Speaker 1: Francine Lakwa. Here's part of that conversation now on inflation,
Speaker 1: have you changed your mind on how quickly central banks
Speaker 1: should move on I think in December you said that
Speaker 1: you know they would have to be an await and
Speaker 1: C situation to have some concrete data before they acted.
Speaker 1: I think that that the point that we've been quite
Speaker 1: consistent of for quite a few months now is that
Speaker 1: the risk of a policy mistake by being too hawkish
Speaker 1: was probably the bigger risk on a balance of probabilities,
Speaker 1: which is not to say there aren't quite significant challenges
Speaker 1: in the inflation picture, and I think we'd probably stand
Speaker 1: by that, particularly now when you see that we've got
Speaker 1: this tension between yes, rising inflation, but at the same
Speaker 1: time some real signs that maybe the growth picture is
Speaker 1: not quite as rosy as it was for five months ago.
Speaker 1: And that's the combination of a macron but just the
Speaker 1: way the whole supply chain challenges have played out. And
Speaker 1: I think when if you're a central banker right now,
Speaker 1: you're in that going to catch twenty two situation because
Speaker 1: you don't want to kill gross that might already be
Speaker 1: under some pressure, but at the same time you've got
Speaker 1: this big challenge on the inflation front. If you unpack
Speaker 1: the inflation challenges, they're quite different in different parts of
Speaker 1: the world. And one of the things I think is
Speaker 1: very striking is the fact that inflation numbers look much
Speaker 1: worse in the US to the way they look in Europe.
Speaker 1: In Europe, there's still a challenge, but of course still
Speaker 1: significantly higher than for example, Japan. So the inflation picture
Speaker 1: is playing out for a whole host of different reasons,
Speaker 1: and it's not clear that those reasons will necessarily respond
Speaker 1: quickly to interest rate rises, which suggest that the interest
Speaker 1: rate rises are always the answer. Do central banks need
Speaker 1: to adapt their language to communicate better with the markets
Speaker 1: or how do you think this will play out? Like
Speaker 1: the market reaction to what the central banks are saying
Speaker 1: more than doing so. I think there's two things that
Speaker 1: are really worth thinking about. I think the central banks
Speaker 1: are really keen to manage our inflation expectations. They came
Speaker 1: more about care more about our inflation expectations than they
Speaker 1: do about absolute levels of inflation, and I think you
Speaker 1: can already see that by the responses that there have
Speaker 1: been out of there. The second is, I think there's
Speaker 1: a very close attention paid to real yields because when
Speaker 1: you look at those long term macro trends, very high
Speaker 1: debt levels and and and a more challenging demographic short
Speaker 1: term lifts and inflation because of changes in demand pattern,
Speaker 1: because of changes in employment choices, and because of that
Speaker 1: supply chain disruption. They're all relatively short or at least
Speaker 1: cyclical issues against that very long structural shift that you've
Speaker 1: got got going on with demographics and with high debt levels,
Speaker 1: and so I think it's the real yield that really
Speaker 1: the central bankers are most focused on, because it's if
Speaker 1: if that rises significantly, certainly if it gets above zero,
Speaker 1: then you start to have a real risk of a
Speaker 1: very hard landing. And I don't think that is on
Speaker 1: anybody's roadmap. So it's a central ancer. I think that's
Speaker 1: what you're playing with right now. Not get our inflation
Speaker 1: expectations down matters more than the absolute level of inflation today.
Speaker 1: So what does it mean for the markets? And is
Speaker 1: this the right time to bed on parts of the
Speaker 1: markets that could benefit from the end of the pandemic? Well,
Speaker 1: I mean the end of pandemic. That's that's a really
Speaker 1: big statement out there. I mean, what what is what
Speaker 1: do we mean by the end of the pandemic? Do
Speaker 1: we mean just adjusting to the fact that we're going
Speaker 1: to have ongoing waves over periods of time and we
Speaker 1: need to get better at adapting to them. I think
Speaker 1: for what it means for markets is that I think
Speaker 1: central banks if they see the inflation expectations maintained under
Speaker 1: control and they don't see real yields getting out of control,
Speaker 1: I think probably will be at the margin more devish
Speaker 1: then the rhetoric today suggests, which means actually probably, although
Speaker 1: this volatility is likely to continue for some time. Actually
Speaker 1: that's not a bad bedrock rates that rise too hard,
Speaker 1: too fast and squeeze off what is quite the fregile
Speaker 1: you can recovery. I think the final point I would
Speaker 1: make is that there are parts of the world in
Speaker 1: China is the most noticeable in that where they actually
Speaker 1: because they've taken a very different approach to the pandemic.
Speaker 1: They're looking for maybe easing rather than a tightening agenda,
Speaker 1: which you're seeing other parts of the world. And we
Speaker 1: need to have space for both if we're going to
Speaker 1: keep the global picture of recovering growth on track. And
Speaker 1: that's Fidelity International CEO and Richards speaking with Bloomberg's Francine
Speaker 1: la Quid this morning, and you can catch more of
Speaker 1: that conversation online at Bloomberg dot com. Looking at markets
Speaker 1: right now, futures are moving higher along with treasuries. That's
Speaker 1: bringing yields lower this morning s and P futures right
Speaker 1: now up twenty five point, Staff futures up a hundred
Speaker 1: fifty seven and NASDAC futures leading the gains. This morning.
Speaker 1: There are up a hundred thirty seven points, that is
Speaker 1: a gain of nine tenths of one percent. The tenure
Speaker 1: treasury is up eight thirty seconds. The yield now one
Speaker 1: point three on the tenure and the yield on the
Speaker 1: two year one point zero three just ahead. Is this
Speaker 1: market relief? And how's the five g roll out of
Speaker 1: affecting your line? So I have the five things you
Speaker 1: need to know to start your day. This is Bloomberg
Speaker 1: Bloomberg eleven three oh weather. Rain will change to snow
Speaker 1: this morning. Early highs in the low forties, temperatures falling
Speaker 1: through the day partly sunny, highs only in the low
Speaker 1: twenties Tomorrow, mix of sun and cloud's upper twenties. Sunday
Speaker 1: right now forty and rain. Broadcasting live from the Bloomberg
Speaker 1: Interactive Broker Studio in New York. Bloomberg Living Freedom to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one
Speaker 1: does San Francisco, Bloomberg N sixty to the Country Sirius
Speaker 1: XM chto one ninet and around the globe the Bloomberg
Speaker 1: Business app in Bloomberg Radio dot com. This is Bloomberg Daybreak.
Speaker 1: It's six thirty on Wall Street. Good morning. I'm Nathan
Speaker 1: Hagar and I'm Karen Moscow or just about three hours
Speaker 1: away from the open of US trading. It is time
Speaker 1: for the five things you need to know to start
Speaker 1: your day. Brought to you by Interactive Brokers. Ib k
Speaker 1: R charges Martin loan rates from zero point seven five
Speaker 1: percent to one point five nine percent rates subject to change.
Speaker 1: Learn more at ib k R dot com. Slash compare up. First,
Speaker 1: the US futures are higher and bond yields are lower
Speaker 1: following yesterday's sell off. Let's get more on the market
Speaker 1: action live with the Bloomberg's John Tucker John Karen. After
Speaker 1: yesterday's one percent slide for the NASTACT, the index is
Speaker 1: now down over ten percent from its November high. There
Speaker 1: may be some relief though. Bonds are stabilizing today, and
Speaker 1: earning season has delivered positive results from companies like Morgan Stanley,
Speaker 1: United Health, and Procter and Gamble. Still, strategists at HSBC
Speaker 1: are cutting their recommendation on US docks from overweight to neutral.
Speaker 1: Live in New York. I'm John Tucker, Bloomberg Day Break.
Speaker 1: All right, John, Thanks. Politics is also a major focus
Speaker 1: this morning. President Biden's pushed for voting rights legislation has collapsed.
Speaker 1: Senators Joe Mansion and Kirsten Cinema broke with Democrats to
Speaker 1: kill the bill. Still, Vice President Kamala Harris is not
Speaker 1: giving up. The President. I are not going to give
Speaker 1: up on this issue. This is fundamental ary democracy and
Speaker 1: it is non negotiable. Vice President Harris says they'll look
Speaker 1: to pass a smaller voting plan instead. Meantime, Nathan President
Speaker 1: Biden held a wide ranging news conference and his first
Speaker 1: year in office. The President said he's outperformed expectations, but
Speaker 1: admits frustration from rising prices and the pandemic. He also
Speaker 1: says tensions with the Russian president Vladimir Putin could come
Speaker 1: to a head over Ukraine. I'm not so certain what
Speaker 1: he's going to do. I guess is he will move in.
Speaker 1: He has to do something. President Biden says Russia will
Speaker 1: be held accountable if it invades Ukraine. Outside politics, Karen
Speaker 1: were focused on the controversial roll out of five G
Speaker 1: so far, the country's avoided major airline disruptions tided to
Speaker 1: the service. Bloomberg's Ranida Young joins US Live with more
Speaker 1: Ranita Nathan. The f a A is clearing about six
Speaker 1: of the US aviation fleet to operate at airports without
Speaker 1: fear of five G inter arans in the new study.
Speaker 1: Safety measures also increased the number of airports where flights
Speaker 1: can safely operate. While the US avoided major disruptions on
Speaker 1: the first official day of five G service, the f
Speaker 1: a A warrants that disruptions are still possible. Live in
Speaker 1: New York, I'm Ranita Young, Bloomberg Daybreak. All right, Rania,
Speaker 1: thank you, and back to the markets. This morning, the
Speaker 1: focus remains on earnings. Give results from Netflix after the
Speaker 1: closing bell. The company's projects a gain of eight and
Speaker 1: a half million subscribers. And that's the five things you
Speaker 1: need to notice start your day. Brought to you by
Speaker 1: Interactive Brokers. And this is Bloomberg. Thanks Caring. Six three
Speaker 1: on Wall Street, Reign thirty nine degrees in Central Park,
Speaker 1: got an accident in Stamford southbound Connecticut Turnpike at exit six.
Speaker 1: The tails on that and more come up in traffic.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. New York Mayor Eric Adams has enough is
Speaker 1: enough after an eleven month old girl was struck by
Speaker 1: a straight bullet last night in the Bronx. The child,
Speaker 1: who was in critical condition, was with her mother in
Speaker 1: a parked vehicle while her father was in a nearby
Speaker 1: grocery store. Police say and unidentified man apparently opened fire
Speaker 1: while chasing another man in the street. Adams, who campaigned
Speaker 1: on a pledge to make the city safer, has said
Speaker 1: he met with the girl's parents at the hospital. Doesn't
Speaker 1: matter to me if it's a police officers shot or
Speaker 1: if it's a baby shot. I'm going to stay in
Speaker 1: these streets until this city is safe, Mayor Adams, as
Speaker 1: the shooter is still on the loose. In another matter
Speaker 1: of New York, Mayor Adams said that he would consider
Speaker 1: excluding the New York City Police Department from a citywide
Speaker 1: cost cutting measure that he is implementing across all the
Speaker 1: government agencies. In his first week's in office, Adams asked
Speaker 1: all city departments to cut non personnel spending by three
Speaker 1: percent as New York prepares to balance the nearly billion
Speaker 1: dollar budget with minimal federal aid money. New Jersey Governor
Speaker 1: Phil Murphy is requiring all workers and healthcare settings and
Speaker 1: high risk congregate living for scyllabbies to be fully COVID
Speaker 1: nineteen vaccinated and boosted. Murphy also says he is eliminating
Speaker 1: a test out option, and Omicron's tsunami has washed across
Speaker 1: our state. While it appears at Omicron the that the
Speaker 1: Omicrons tsunami is finally pulling back, we are in no
Speaker 1: position to say we're on dry ground, Murphy says. Those
Speaker 1: in the health care community who aren't vaccinated have until
Speaker 1: January seven to get their first vaccine does and the
Speaker 1: second shot by February. The U. S. Supreme Court denied
Speaker 1: a request from former President Trump to shield his presidential
Speaker 1: papers from the congressional committee investigating the January sixth attack.
Speaker 1: There was one vote in descent who would have allowed
Speaker 1: Trump to claim executive privilege over the documents. Justice Clarence
Speaker 1: Thomas Galaim Maxwell formerly asked for a new trial after
Speaker 1: her lawyers raised concerns that at least one of the
Speaker 1: juries who convicted her of sex trafficking didn't disclose during
Speaker 1: pre trial screenings that he was sexually abused as a child.
Speaker 1: The British socialite was found guilty last month of helping
Speaker 1: to sexually abuse underage girls. With Jeffrey Epstein, Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven under journalist
Speaker 1: and analysts more than a hundred twenty countries. I'm Michael Barr.
Speaker 1: This is Bloomberg, Nathan, Michael, thank you. Just about six
Speaker 1: thirty six on Wall Street Time for the Bloomberg Sports
Speaker 1: Update with John stash House. Nathan. The criticism of Kyrie
Speaker 1: Irving continues. The latest away in Hall of Famer Dave
Speaker 1: Bang who said Irving is letting his teammates down. One
Speaker 1: of those teammates, James Harden, recently joked that he's going
Speaker 1: to inject Kyrie with the vaccine himself. There are no
Speaker 1: indications Kyrie will change his stance, which means he k
Speaker 1: will continue to play only on the road. The Nets
Speaker 1: are playing a lot of road games right now. Last
Speaker 1: night they were in Washington. They topped the Wizards one
Speaker 1: nineteen to one. Eighteen Irving scot thirty points. Like chipping
Speaker 1: in in the first half, you know it's going being
Speaker 1: aggressive and then um, you know, com pasting myself in
Speaker 1: the second half. Trying to put two solid halves together
Speaker 1: at this point and I think once I do that,
Speaker 1: I'll feel a lot more complete. But in terms of
Speaker 1: where we are as a team's gut win despite Irving
Speaker 1: playing part time and now that Kevin Durant injury nets
Speaker 1: only a half game out for first in the East.
Speaker 1: Nick's home tonight for New Orleans last night at the
Speaker 1: Guard another Ranger wins six to three over Toronto, two
Speaker 1: goals for Adam Fox and two for Ryan Reeves, his
Speaker 1: first two of the season. That was lost at home
Speaker 1: to Arizona four to one. St. John's beaten soundly by
Speaker 1: Crighton eight seven sixty four Rutgers at six win over
Speaker 1: Iowa and Ron Harper's two free throws with two seconds left.
Speaker 1: Andy Murray was trying to make a comeback at age
Speaker 1: thirty four. He'd been riddled with injury the last few years.
Speaker 1: He lost his second round match at the Australian Open
Speaker 1: Daniel Medvedev, the two seed off the US Open, when
Speaker 1: last September he just won his match with the ausee
Speaker 1: Nick Kurios in four sets, but Emma Radikan, who won
Speaker 1: the open, lost in three sets. Battle of Americans Taylor Fritz,
Speaker 1: Feed Frances Tfo and then Fritz then heard his legs
Speaker 1: celebra in the victory, says he'll be fine for his
Speaker 1: next match. Spacially were Bloomberg Okay, John Thanks at six
Speaker 1: thirty seven on Wall Street Time to take a look
Speaker 1: at stock some of the names moving in the pre
Speaker 1: market with Bloomberg Radio and TV Markets correspondent Creety gooped
Speaker 1: with a focus on earnings in the air. Yeah, we
Speaker 1: got to talk about these earnings. Everyone's talking about, you know, Netflix,
Speaker 1: the big tech and banks. No one's talking about the airlines.
Speaker 1: You had United Air report after hours yesterday reporting a
Speaker 1: loss in the final three months of one a better
Speaker 1: loss than expected, but a loss. Nonetheless, Nathan saying that
Speaker 1: Omicron is cutting into the capacity. They're still dealing with
Speaker 1: those labor pressures and of course the supply chain costs
Speaker 1: as well. That's really rippling into kind of their bottom line.
Speaker 1: What's important to keep in mind here is that for airlines,
Speaker 1: one of the big sticking points has been when are
Speaker 1: they going to recover from cope from this kind of
Speaker 1: COVID hit. When are they going to actually turn positive?
Speaker 1: Delta was the very first one to do that in
Speaker 1: the fourth quarter of one, and now we have to
Speaker 1: see if some of those airlines can really keep But
Speaker 1: but right now, Eric, uh not Eric, excuse me, Nathan
Speaker 1: of staring Eric a message from Eric on my terminal here,
Speaker 1: But Nathan, excuse me, is actually down under pressure. Remember
Speaker 1: they've also been dealing with about three thousand people calling
Speaker 1: in sick simply because they have COVID. So the labor
Speaker 1: issues very pronounced an airline stock. Nevertheless, you A L
Speaker 1: is your taker down about half a percent. American Airlines
Speaker 1: is where we're going to get that next test to
Speaker 1: see if it's kind of a United Air story or
Speaker 1: this is an airline story broadly, A L is your
Speaker 1: taker up one point a percent in the pre market.
Speaker 1: They are reporting, I believe in the next hour. So
Speaker 1: something to keep an eye on as we go into
Speaker 1: the rest of earning season. Yeah, definitely watching those airline
Speaker 1: earnings as well as Netflix. As you mentioned, reporting after
Speaker 1: the bell this afternoon. We've got some analyst moves this
Speaker 1: morning as well. Yeah, the analysts keeping busy, keeping us
Speaker 1: on our toes. I'm gonna start air with semiconductors, Advanced
Speaker 1: micro devices a m D down one point three percent
Speaker 1: in the pre market. N XP semi conductors as well,
Speaker 1: down one point four percent. The takers n XP both
Speaker 1: cut to neutral from an overweight over at Piper sand
Speaker 1: We're sighting those day on downside risks for a m
Speaker 1: D is going to be a combination of a potential
Speaker 1: slowdown in the PC market in two earnings growth, headwinds
Speaker 1: from closing a silence steal, and of course it is
Speaker 1: broader market dynamics around tech StockX. We know that's a
Speaker 1: very crucial spot to look at right now. For n XP,
Speaker 1: also cut because of a very cautious automotive view when
Speaker 1: it comes to semiconductors. There is a wall of worry,
Speaker 1: especially when it comes to Piper Stanley, and that is
Speaker 1: clearly weighing on both a m D and n XP.
Speaker 1: I'll leave you on an up note, Nathan, because we
Speaker 1: got to leave you with some optimism here. Vertex Pharmaceuticals
Speaker 1: v r t X up seven tenths of a percent
Speaker 1: after it gets upgraded to an outperform from a market
Speaker 1: form over at BMO, saying it has quote an increasingly
Speaker 1: positive outlook on the company, a rare view in the
Speaker 1: biotech space. All right, creaty, thanks, so let's get back
Speaker 1: to that message from Erica. Make sure you right back
Speaker 1: to him. Bloomberg Radio on TV. Markets correspondent Crety Gupta
Speaker 1: with the pre market look this morning, and as we
Speaker 1: take a look at stocks as a whole ahead of
Speaker 1: the Thursday morning open. Futures are moving higher. We've got
Speaker 1: SMP futures right now up twenty four point, Staff futures
Speaker 1: up a hundred forty, Nasdaq futures on the rise by
Speaker 1: a hundred thirty four points. The tenure treasury up nine
Speaker 1: thirty seconds. The yield one percent yield on the two
Speaker 1: year right now one point zero three. Stay with us,
Speaker 1: you're listening to Bloomberg Day right, Bloomberg eleven three oh
Speaker 1: Weather rain changing to snow this morning, early highs in
Speaker 1: the low forties, temperatures falling through the day Tomorrow, partly sunny,
Speaker 1: low twenties for highs upper twenties by Saturday, rain and
Speaker 1: thirty nine degrees. Right now, Markets headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot com, the
Speaker 1: Bloomberg Business out and at Bloomberg Quick tape is a
Speaker 1: Bloomberg Business flash and I'm Karen Moscow future is rising.
Speaker 1: This morning, we had the first word breaking news desk
Speaker 1: for today's morning call. Here's Bill Maloney, Bill, good morning,
Speaker 1: and good morning, Karen. That's right. US features are in
Speaker 1: the green fu yesterday's sell off without features currently up
Speaker 1: a hundred and two points. Estimes gained twenty welven Aztec
Speaker 1: features are higher by one fifteen. The US ten year
Speaker 1: old at one point three percent, Gold is down three
Speaker 1: Oil is a little changed. Big Coin is trading higher
Speaker 1: by point nine percent. Hong Kong rose three point four
Speaker 1: percent overnight, while up and markets are trading mixed right
Speaker 1: now and back in the US on the Economic funda
Speaker 1: eight thirty initial job this claims and the Philly Fed
Speaker 1: and at ten o'clock existing home sales after de Bellos,
Speaker 1: Nate alca EPs speed estimates and United Airlines Q for
Speaker 1: operating revenue also beat estimates. In deal news, Chesspeak Energy
Speaker 1: nears a two point four billion dollar deal to buy
Speaker 1: Chief Oil and Gas, and another news Google is forming
Speaker 1: a blockchain group wrapping things up. Forward was cut to
Speaker 1: hold over at Jeffreys, Etc. Raised over a key bank.
Speaker 1: Us ban Corporate was cutting market perform at KBW, and
Speaker 1: am D was cut to neutral over at Piper Live
Speaker 1: from the first third breaking news, dostcomb but Maloney care
Speaker 1: all right, Bill, thank you to hear live breaking news
Speaker 1: of her Bloomberg. Have squawk on your terminal scue you
Speaker 1: a w K and that's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael Karen, thank you very much. Despite a
Speaker 1: last minute attempt from Senate Majority Leader Chuck Schumer er
Speaker 1: overhaul Senate filibuster rules, voting rights legislation has once again failed.
Speaker 1: In the Senate. Republicans have blocked voting rights legislation. There
Speaker 1: was Senate debate, but every single Republican went on the
Speaker 1: record voting against it. The U Supreme Court cleared the
Speaker 1: way for some of former President Donald Trump's White House
Speaker 1: papers to be turned over to a congressional panel investigating
Speaker 1: the January sixth capital attack. The justices rejected Trump's bid
Speaker 1: to block the release on grounds of executive privilege. In
Speaker 1: the NBA, the Nets beat the Wizards one nine one eighteen,
Speaker 1: the Celtics lost in the NHL. The Rangers won. The
Speaker 1: Devil's Lost. Global News twenty four hours a day on
Speaker 1: air and on Bloomberg Quick Thank, powered by more than
Speaker 1: twenty seven under journalist and analysts more than a hundred
Speaker 1: the countries. I'm Michael Barr. This is Bloomberg. The following
Speaker 1: commentary is from Bloomberg Opinion Incomplete. I'm Jonathan Bernstein, a
Speaker 1: columnist from Bloomberg Opinion. Here's a reader's guide for evaluations
Speaker 1: of Joe Biden's first year in office, beyond the obvious
Speaker 1: advice to be wary of partisan cheers or jeers. First,
Speaker 1: while presidents are surely the single most important players in
Speaker 1: US politics, that's all, they are, single players. Evaluations that
Speaker 1: ignore the context the president's work in are useless. Then
Speaker 1: be sure that any evaluation is clear about the differences
Speaker 1: between the president, the president c and the larger political system. Congress,
Speaker 1: not the president, passes legislation. It's fair to consider how
Speaker 1: a president influenced Congress, but not to assume that whatever
Speaker 1: happened must have been what the president wanted. Be alert
Speaker 1: for the pundit's fallacy, the certainty that success requires support
Speaker 1: for the pundit's ideas. Even more tempting is an approval
Speaker 1: rating effect, with all actions interpreted as successes, with things
Speaker 1: are going well and mistakes when they're not. Some things
Speaker 1: haven't played out yet. An important information as yet to
Speaker 1: become public. The grade most presidents deserve after one year
Speaker 1: is incomplete. I'm Jonathan Bernstein. For more opinion, please go
Speaker 1: to Bloomberg dot com, slash Opinion or O P A
Speaker 1: n go on the Bloomberg terminal. This has been Bloomberg
Speaker 1: Opinion and Bloomberg Opinion commentaries can be heard every weekday
Speaker 1: at this time, and terminal customers can read more at
Speaker 1: O P I n go. It is X fifty on
Speaker 1: Wall Street. Let's turned to news and science and technology
Speaker 1: now at the Bloomberg n j I T STEM report
Speaker 1: brought to you by New Jersey Institute of Technology, which
Speaker 1: announced that renounced scholar and educational leader Dr Tech Limb
Speaker 1: will join the university as n j I T s
Speaker 1: ninth President. Learn more at n j I T dot
Speaker 1: e DU now Here's its making news and science, technology, engineering,
Speaker 1: and math. Deep in the South Pacific, scientists have explored
Speaker 1: a rare stretch of pristine coral shaped like roses off
Speaker 1: the coast of Tahiti. The reef is thought to be
Speaker 1: one of the largest found is such depths and seems
Speaker 1: untouched by climate change or human activities. Globally, coral reefs
Speaker 1: have been depleted from over fishing and pollution. Climate change
Speaker 1: is also harming delicate corals, with severe bleaching caused by
Speaker 1: warmer waters. A first for Amazon, the company said it
Speaker 1: plans to open a clothing store in a southern California
Speaker 1: mall later this year. Shoppers will get to personalized or
Speaker 1: get personalized recommendations pushed to their phones as they browsed
Speaker 1: the new Amazon style store, stocked mostly with non Amazon
Speaker 1: fashion labels. The store will be about thirty thousand square feet,
Speaker 1: similar in size to a Coal's, but about one third
Speaker 1: the size of other department stores like Macy's and An
Speaker 1: n f T startup co founded by pro football star
Speaker 1: Tom Brady, raised one seventy million dollars in a round
Speaker 1: of funding. The company called Autograph, partners with athletes to
Speaker 1: create digital collectibles. Brady has been one of the highest
Speaker 1: profile advocates from the world of sports and entertainment for cryptocurrencies,
Speaker 1: and that's a Bloomberg and j I t Stem report Nathan,
Speaker 1: thank you, Karen. We are I from the Bloomberg Interactive
Speaker 1: Broker Studios or at six fifty two on Wall Street
Speaker 1: Time Now to check what's going on in d C.
Speaker 1: Some of the top stories in our nation's capital include
Speaker 1: Senate Republicans blocking voting rights legislation, setting up a long
Speaker 1: shot effort to change the rules, the Supreme Court clearing
Speaker 1: the release of some of former President Trump's January six records,
Speaker 1: and President Biden defending his record as he heads into
Speaker 1: his second year in office. We have faced some of
Speaker 1: the biggest challenges that we've ever faced in this country
Speaker 1: these past few years. Challenges to our public health, challenges
Speaker 1: to our economy. We're getting through. Let's get more now
Speaker 1: on the president's news conference and all that's happening in
Speaker 1: the nation's capital with Bloomberg Government reporter Emily Wilkins. Emily,
Speaker 1: it was nearly two hours. The President faced questions from
Speaker 1: reporters yesterday. A lot to unpack and a lot of
Speaker 1: expectation or a sense that the president needs to recalibrate.
Speaker 1: But he says that he's staying on his current track. Yeah,
Speaker 1: I didn't really double down on a lot of the
Speaker 1: more questions about presidency about what he needs to do Differently.
Speaker 1: Near the end, he was sort of indicating that he
Speaker 1: was going to try to get out to talk to
Speaker 1: the American people more, that that was a change that
Speaker 1: he was planning to make. UM, But he did make
Speaker 1: a little bit of news with the presser. He seemed
Speaker 1: to indicate that he was open to breaking up his
Speaker 1: signature of social policy and tax bill into smaller pieces
Speaker 1: that could then pass through Congress, and he also talked
Speaker 1: a little bit about Russia. UM. He mentioned that the
Speaker 1: U S and UH their allies have yet to agree
Speaker 1: on how to hold Moscow accountable for what he called
Speaker 1: a minor incursion, and that remark immediately White House or
Speaker 1: other officials and common people jumped on that remark, said
Speaker 1: they were clarifying that there would definitely be swift action.
Speaker 1: But that raised a lot of right eyebrows and red
Speaker 1: flags just because the US is posture on Russia and
Speaker 1: Ukraine has tried to be one of you know, trying
Speaker 1: to be as strong as possible. That's sort of the
Speaker 1: position that they're trying to negotiate from UH, and the
Speaker 1: remark like this could potentially undercut uh, the the opinion
Speaker 1: of what the US will do, the threat of the
Speaker 1: US up retaliating shared Russia in Vaine. So, coming after
Speaker 1: this news conference, Emily, where does this leave President Biden
Speaker 1: positioned as he heads into year two? What are you
Speaker 1: gonna be watching for? So? I think one of the
Speaker 1: things to be watching for is exactly what does happen
Speaker 1: with that social spending and tax package UM. Certainly that's
Speaker 1: really one area that Biden has control over delivering. It
Speaker 1: will be also interesting to see whether the White House
Speaker 1: tries to do more to address the economic indicators with inflation,
Speaker 1: with the economy, with jobs UM, as well as with coronavirus.
Speaker 1: If they do, if there is another surge, is the
Speaker 1: administration prepared um this last time? They were really caught
Speaker 1: flat footed when it came to O Macron and to
Speaker 1: have the testing that they needed. You know, a lot
Speaker 1: of the things here for for Biden that he's grappling with,
Speaker 1: you know, they're somewhat outside the ability for the White
Speaker 1: House to see control and to navigate. But that doesn't
Speaker 1: really matter to voters at the end of the day.
Speaker 1: If they feel like they're worse off than they were
Speaker 1: four years ago, Uh, and Biden clearly in trouble. We
Speaker 1: are seeing some of the highest disapproval numbers for him
Speaker 1: this morning, and in fact, one pole is actually showing
Speaker 1: that only precent of Democrats want him to run again,
Speaker 1: So less than half of his own party actually wants
Speaker 1: to see Biden run in And as you mentioned, it
Speaker 1: sounds like President Biden is hoping to get those poll
Speaker 1: numbers back up by getting out on the road. More.
Speaker 1: Where does that leave Congress? I mean, his agenda still
Speaker 1: has to be enacted in a lot of respects on
Speaker 1: Capitol Hill, and we just saw yesterday that voting rights legislation,
Speaker 1: his latest piece of a domestic agenda, has come up
Speaker 1: short as well. I mean, to be blunt, Nathan, there's
Speaker 1: no role that said that the president has to be
Speaker 1: in Washington v seat for Congress to pass legislation. Um
Speaker 1: being Congress kind of can do its own thing and
Speaker 1: then side. It could just side on the dotted line. Certainly,
Speaker 1: as you expect Biden to be involved in these negotiations,
Speaker 1: you see him come to Capitol Hill numerous times. But
Speaker 1: after his trips to Capitol Hill, it doesn't seem to
Speaker 1: do anything. He visits the Senate. They still didn't pass
Speaker 1: that role changed the Voting Rights Act. He visited the
Speaker 1: House um over the Build Back Better plan that that
Speaker 1: is currently solved. So it doesn't seem like Biden's direct
Speaker 1: interactions the moments he comes to Capitol Hill I really
Speaker 1: panned out for him the way that the administration probably hoped.
Speaker 1: So it might not make a huge difference. One thing
Speaker 1: I'm am interested to see is if lawmakers who are
Speaker 1: vcing re election want to campaign with Biden, if they
Speaker 1: want Biden to come to their districts. Uh. If Biden's
Speaker 1: poll numbers continue to decline or even stay at their
Speaker 1: current level, uh, there could be Democrats in elite, critical
Speaker 1: sweep stata districts who say, you know what, You're just
Speaker 1: not popular here, Please don't come in campaign with me.
Speaker 1: So that that'll be an interesting dynamic to watch going beforeward.
Speaker 1: Bloomberg Government reporter Emily Wilkins as we head into year
Speaker 1: two of the Biden presidency. Emily, thanks as always, and
Speaker 1: you can read more about these stories of Bloomberg dot
Speaker 1: com or on the Bloomberg terminal and listen to Bloomberg
Speaker 1: Radio in Washington. Bloomberg and one oh five point seven
Speaker 1: FM HD two. So earnings crossing the Bloomberg terminal from
Speaker 1: Travelers fourth quarter earnings per share beat the AFA Channaalist estimate.
Speaker 1: Much more on that and all the earnings picture and
Speaker 1: markets with Bloomberg Surveillance, Tom Keene, Jonathan Farrell, and Lisa Bramwooz.
Speaker 1: That's coming up next for Karen Moscow. I'm Nathan Hagar,
Speaker 1: and this is Bloomberg