1 00:00:03,240 --> 00:00:06,439 Speaker 1: Live from the Bloomberg Get directed Berger Studios is Bloomberg 2 00:00:06,519 --> 00:00:10,240 Speaker 1: day Break for Tuesday, June two. Coming up this hour. 3 00:00:10,600 --> 00:00:14,560 Speaker 1: Stocks get a lift after China eases it's strict COVID protocols. 4 00:00:14,800 --> 00:00:18,360 Speaker 1: Banks boosted dividend payouts after acing the FED stress tests. 5 00:00:18,600 --> 00:00:22,200 Speaker 1: ECB president Christine Legarde says rates are going higher, and 6 00:00:22,239 --> 00:00:25,880 Speaker 1: the January six committee as a surprise hearing later Today. 7 00:00:25,920 --> 00:00:28,920 Speaker 1: It's primary day in New York and six other states, 8 00:00:28,920 --> 00:00:31,960 Speaker 1: plus it is sentencing day for Gilaine Maxwell in the 9 00:00:32,040 --> 00:00:35,640 Speaker 1: Jeffrey Epstein sexual abuse case. I'm Michael barn More Ahead, 10 00:00:36,000 --> 00:00:39,239 Speaker 1: I'm John Stash Sharon sports another comeback win by the Yankees, 11 00:00:39,280 --> 00:00:44,680 Speaker 1: and Kyrie Irving is opting in with the net. That's 12 00:00:44,680 --> 00:00:48,599 Speaker 1: All's training ahead on Bloomberg Daybreak on Bloomberg Eliven Free 13 00:00:48,640 --> 00:00:53,080 Speaker 1: on New York, Bloomberg on Washington, d C, Bloomberg one 14 00:00:53,080 --> 00:00:57,600 Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Sirius 15 00:00:57,760 --> 00:01:01,160 Speaker 1: XM one nineteen and around the world on Bloomberg Radio 16 00:01:01,240 --> 00:01:07,960 Speaker 1: dot Com and via The Bloomberg Business and Good Morning. 17 00:01:07,959 --> 00:01:11,080 Speaker 1: I'm Perrod Moscow. I'm Nathan Hagar. Bloomberg Daybreak is brought 18 00:01:11,080 --> 00:01:13,720 Speaker 1: to you by Informattica in the cloud. Your data has 19 00:01:13,760 --> 00:01:16,240 Speaker 1: the power to do the extraordinary. Managed data across any 20 00:01:16,240 --> 00:01:19,160 Speaker 1: location in the cloud for accurate and actionable insights. More 21 00:01:19,319 --> 00:01:22,880 Speaker 1: at informattica dot com and US future is higher this 22 00:01:22,959 --> 00:01:24,760 Speaker 1: morning six so one On Wall Street. We check the 23 00:01:24,760 --> 00:01:27,640 Speaker 1: markets every fifteen minutes throughout the trading day. On bloomberg 24 00:01:27,760 --> 00:01:30,320 Speaker 1: S and P futures of eighteen points down futures have 25 00:01:30,360 --> 00:01:32,680 Speaker 1: a hundred sixty four and as day futures of forty 26 00:01:32,800 --> 00:01:35,280 Speaker 1: seven and the ten year treasury down eight thirty seconds. 27 00:01:35,280 --> 00:01:37,839 Speaker 1: You have three point to three percent Nathan Well Karen. 28 00:01:37,880 --> 00:01:40,800 Speaker 1: The lifting stocks comes after a major shift to China's 29 00:01:40,840 --> 00:01:44,800 Speaker 1: COVID nineteen policy. China's cutting the quarantine period to ten 30 00:01:44,880 --> 00:01:48,040 Speaker 1: days from up to three weeks for inbound visitors. We 31 00:01:48,080 --> 00:01:50,560 Speaker 1: get more from Bloomberg's John Lou in Beijing, but the 32 00:01:50,640 --> 00:01:55,440 Speaker 1: significance is the amount of cross border travel. The amount 33 00:01:55,480 --> 00:01:58,480 Speaker 1: of business people coming in and out have been great 34 00:01:58,560 --> 00:02:02,440 Speaker 1: really reduced since the pandemic largely because of that twenty 35 00:02:02,480 --> 00:02:05,600 Speaker 1: one days of quarantine people would potentially have to do 36 00:02:05,640 --> 00:02:09,079 Speaker 1: when they come in. This is a substantial reduction, at 37 00:02:09,480 --> 00:02:12,000 Speaker 1: half of what it used to be Not only is 38 00:02:12,000 --> 00:02:15,079 Speaker 1: it for travelers, it's also for people who come into 39 00:02:15,160 --> 00:02:19,480 Speaker 1: close contact with a with an infective person. Bloomberg's John 40 00:02:19,560 --> 00:02:23,000 Speaker 1: lu says Asia's equities erased losses to climb for a 41 00:02:23,040 --> 00:02:26,840 Speaker 1: fourth session, and tourism related stocks led the games well. Nathan. 42 00:02:26,919 --> 00:02:30,120 Speaker 1: US futures are also getting a boost on China easing 43 00:02:30,160 --> 00:02:33,880 Speaker 1: COVID restrictions. Yesterday, stock started the week on a losing note, 44 00:02:34,240 --> 00:02:37,160 Speaker 1: but Aaron Kennon, chief executive officer at Clear Harbor as 45 00:02:37,200 --> 00:02:41,320 Speaker 1: said management says there are some optimistic signs for investors. 46 00:02:41,360 --> 00:02:43,400 Speaker 1: We are seeing some light at the end of the tunnel. 47 00:02:43,440 --> 00:02:45,880 Speaker 1: And I know it may not be in vogue to 48 00:02:46,000 --> 00:02:50,400 Speaker 1: suggest this, but um inflation metrics such as you know, 49 00:02:50,440 --> 00:02:54,440 Speaker 1: for example, copper down, nickel off. I was looking at 50 00:02:54,760 --> 00:02:57,639 Speaker 1: shipping rates. They're down dramatically over the last couple of months, 51 00:02:57,680 --> 00:03:03,040 Speaker 1: aluminums off iron or we you know, even even oils 52 00:03:03,080 --> 00:03:06,560 Speaker 1: off double digits right now. Clear Harbor Asset Management CEO 53 00:03:06,680 --> 00:03:10,000 Speaker 1: er and Kennon still recommends investors be cautious. Yeah, so 54 00:03:10,040 --> 00:03:13,000 Speaker 1: does Goldman Sachs Care and that firm strategists say US 55 00:03:13,080 --> 00:03:15,880 Speaker 1: profit margin estimates are too optimistic and that will put 56 00:03:15,919 --> 00:03:18,720 Speaker 1: stocks at risk of more declines when Wall Street analysts 57 00:03:18,720 --> 00:03:23,640 Speaker 1: downgrade expectations. Goldman expects aggregate margins for SMP companies to 58 00:03:23,639 --> 00:03:27,680 Speaker 1: remain flat in three even if the economy does not contract. 59 00:03:27,960 --> 00:03:30,160 Speaker 1: They say the risk is lower for the ten biggest 60 00:03:30,200 --> 00:03:33,639 Speaker 1: companies on the index, which account for nineteen of its earnings. 61 00:03:34,040 --> 00:03:36,640 Speaker 1: Well Nathan Bank stocks are higher in early trading. They 62 00:03:36,640 --> 00:03:40,840 Speaker 1: boosted dividends following success in passing bank stress tests. Beget 63 00:03:40,920 --> 00:03:44,040 Speaker 1: more from Bloomberg's Turley Pillett. Bank of America announced a 64 00:03:44,160 --> 00:03:48,040 Speaker 1: dividend increase, while Morgan Stanley boosted it's payout while saying 65 00:03:48,040 --> 00:03:51,880 Speaker 1: it will repurchase as much as twenty billion of stock. 66 00:03:52,240 --> 00:03:56,040 Speaker 1: Morgan Stanley boosted its quarterly dividend to seventy seven point 67 00:03:56,080 --> 00:03:59,440 Speaker 1: five cents a share from seventy cents. Bank of America's 68 00:03:59,440 --> 00:04:03,440 Speaker 1: payout limes to two cents from twenty one cents. State 69 00:04:03,520 --> 00:04:08,720 Speaker 1: Street Corps and Truest Financial also announced dividend increases in 70 00:04:08,840 --> 00:04:12,280 Speaker 1: New York. Charlie pea Bloomberg Daybreak. All right, Charlie, thank 71 00:04:12,280 --> 00:04:14,800 Speaker 1: you for watching shares of Nike this morning. They're down 72 00:04:14,800 --> 00:04:17,720 Speaker 1: two and a half percent in early training Bloomberg's Doug 73 00:04:17,760 --> 00:04:20,839 Speaker 1: Prisner reports the company offered a downbeat full year forecast 74 00:04:21,200 --> 00:04:23,800 Speaker 1: the sports where company said gross marchin will be flat 75 00:04:23,800 --> 00:04:26,960 Speaker 1: to down fifty basis points and revenue is expected to 76 00:04:26,960 --> 00:04:29,360 Speaker 1: grow this fiscal year by one percent in the low 77 00:04:29,440 --> 00:04:32,880 Speaker 1: double digits. Nike is also being cautious on China. In 78 00:04:32,920 --> 00:04:35,760 Speaker 1: the last quarter, sales in the Greater China region fell 79 00:04:36,560 --> 00:04:39,880 Speaker 1: at constant currencies. Nike still views China as a long 80 00:04:40,000 --> 00:04:42,760 Speaker 1: term growth market and the company will continue to invest 81 00:04:42,839 --> 00:04:46,440 Speaker 1: in the region even with that China weakness. Overall revenue 82 00:04:46,480 --> 00:04:49,440 Speaker 1: for the last quarter beat estimates, and Nike's board authorized 83 00:04:49,480 --> 00:04:52,960 Speaker 1: a new eighteen billion dollar stock buyback program. In New York, 84 00:04:52,960 --> 00:04:55,400 Speaker 1: I'm Doug Krisner, Bloomberg Daybreak. All right, Doug, thank you. 85 00:04:55,400 --> 00:04:58,359 Speaker 1: We now turn overseas for the European Central Banks Annual 86 00:04:58,440 --> 00:05:01,960 Speaker 1: Forum and Centrums underway and her keynotes speech earlier this morning, 87 00:05:01,960 --> 00:05:04,960 Speaker 1: ECB President Christine the Guards said raids are going higher 88 00:05:05,040 --> 00:05:08,920 Speaker 1: to combat inflation. In July, we intend to raise our 89 00:05:08,960 --> 00:05:13,920 Speaker 1: policy rates for the first time in eleven years, and 90 00:05:13,960 --> 00:05:18,040 Speaker 1: we have provided some guidance for our September policy meeting 91 00:05:18,760 --> 00:05:23,320 Speaker 1: and the rate path that we envisage. Thereafter, ECB President 92 00:05:23,400 --> 00:05:25,760 Speaker 1: Christine and the Guard's signal the July rate high will 93 00:05:25,800 --> 00:05:28,240 Speaker 1: be a quarter of a point of This morning, Karen, 94 00:05:28,279 --> 00:05:30,640 Speaker 1: President Biden's headed to Madrid for the start of the 95 00:05:30,680 --> 00:05:33,279 Speaker 1: three day NATO summit. The White House says he spoke 96 00:05:33,279 --> 00:05:36,240 Speaker 1: with Turkeys president on the way. Biden's leaving a G 97 00:05:36,400 --> 00:05:39,680 Speaker 1: seven meeting in Germany, where leaders accused Russia of war 98 00:05:39,760 --> 00:05:44,120 Speaker 1: crimes for attacking a Ukrainian shopping mall. Ukraine's President vladimir's 99 00:05:44,200 --> 00:05:49,760 Speaker 1: Lensky also condemned the attack. Only terrorists who have no 100 00:05:49,920 --> 00:05:53,000 Speaker 1: place on Earth could strike on such a location. This 101 00:05:53,080 --> 00:05:56,120 Speaker 1: is not a mistaken missile strike. It is a calculated 102 00:05:56,320 --> 00:06:00,120 Speaker 1: Russian strike on the shopping center. President's Lensky address the 103 00:06:00,160 --> 00:06:02,599 Speaker 1: summit through an interpreter. The G seven wrapped up with 104 00:06:02,640 --> 00:06:05,640 Speaker 1: an urgent call for ministers to explore a price cap 105 00:06:05,680 --> 00:06:08,400 Speaker 1: on Russian oil and gas. Well back here at home, Nathan, 106 00:06:08,440 --> 00:06:11,839 Speaker 1: the January six Committee has quickly added an additional hearing. 107 00:06:11,920 --> 00:06:14,520 Speaker 1: It's scheduled for today. A Bloomberg said, Baxter has the 108 00:06:14,560 --> 00:06:17,479 Speaker 1: story a bit of a surprise. The committee's signal last 109 00:06:17,520 --> 00:06:20,599 Speaker 1: week though that it had obtained new information and it 110 00:06:20,680 --> 00:06:23,400 Speaker 1: obviously thinks it is important enough to change the schedule 111 00:06:23,480 --> 00:06:26,800 Speaker 1: like this. Sources say it will center on information from 112 00:06:26,839 --> 00:06:30,840 Speaker 1: documentary filmmaker Alex Holder about footage he has of Donald 113 00:06:30,920 --> 00:06:34,080 Speaker 1: Trump after the election and leading up to the assault 114 00:06:34,080 --> 00:06:37,600 Speaker 1: on the capitol by his supporters. It also has interviews 115 00:06:37,600 --> 00:06:41,359 Speaker 1: with family members including Ivanka Trump, Jared Kushner, and Eric Trump. 116 00:06:41,600 --> 00:06:45,320 Speaker 1: Holder also says it has never before seen footage of 117 00:06:45,360 --> 00:06:49,200 Speaker 1: the insurrection attempt at the capitol in San Francisco. I'm 118 00:06:49,240 --> 00:06:52,159 Speaker 1: at Baxter Bloomberg daybreak, al right, and thank you. SMP 119 00:06:52,240 --> 00:06:55,200 Speaker 1: futures right now up eighteen points. Now futures are hired 120 00:06:55,200 --> 00:06:57,520 Speaker 1: by a hundred sixty three points, NASTAC futures on the 121 00:06:57,600 --> 00:07:00,839 Speaker 1: rise by forty seven points. The tenure treasury is down 122 00:07:00,880 --> 00:07:03,480 Speaker 1: eight thirty seconds. The three point to three percent yeld 123 00:07:03,520 --> 00:07:06,200 Speaker 1: on the two year three point one two Nimex cruds 124 00:07:06,279 --> 00:07:08,200 Speaker 1: up one and a half percent, up a dollar sixty 125 00:07:08,240 --> 00:07:11,320 Speaker 1: six and a hundred eleven dollars cents in barrel, and 126 00:07:11,400 --> 00:07:13,400 Speaker 1: right now the euro is at one point zero five 127 00:07:13,480 --> 00:07:15,840 Speaker 1: eight eight against the dollars. Straight ahead your latest local 128 00:07:15,880 --> 00:07:23,200 Speaker 1: headlines in the check of sports. This is Bloomberg six 129 00:07:23,240 --> 00:07:26,000 Speaker 1: oh seven on Wall Street sixty six degrees in Central Park. 130 00:07:26,080 --> 00:07:28,840 Speaker 1: Heads up, if you take the Sawmill there's a downtree 131 00:07:28,880 --> 00:07:32,120 Speaker 1: northbound Green Lane in Bedford. Details coming up in Traffic 132 00:07:32,120 --> 00:07:33,920 Speaker 1: First Michael Barr with more on what's going on in 133 00:07:33,960 --> 00:07:36,720 Speaker 1: New York and around the world. Michael, thank you very much, Nathan. 134 00:07:36,800 --> 00:07:39,920 Speaker 1: Seven states, including New York, are set to host primary 135 00:07:39,960 --> 00:07:43,560 Speaker 1: elections today, the first election since last week's Supreme Court 136 00:07:43,640 --> 00:07:47,680 Speaker 1: ruling eliminating the constitutional right to an abortion. For the Democrats, 137 00:07:47,720 --> 00:07:50,920 Speaker 1: New York Governor Caffey Hoco faces Tom Swase and Jamanni 138 00:07:50,960 --> 00:07:56,760 Speaker 1: Williams for the gubernatorial nomination. Rob Astino Andrew Giuliani, Harry Wilson, 139 00:07:57,000 --> 00:07:59,720 Speaker 1: and Lee Zelden, who has been endorsed by former Vice 140 00:07:59,720 --> 00:08:03,120 Speaker 1: pres and A Mike Pence running for the GOP nomination 141 00:08:03,200 --> 00:08:06,160 Speaker 1: for governor. A judge has blocked New York City from 142 00:08:06,240 --> 00:08:09,680 Speaker 1: letting non citizens vote for mayor and other municipal offices. 143 00:08:10,040 --> 00:08:14,160 Speaker 1: Republicans challenged the measure as unconstitutional, and the Staten Island 144 00:08:14,240 --> 00:08:17,560 Speaker 1: judge agreed with the GOP and the ruling. The laws 145 00:08:17,720 --> 00:08:21,200 Speaker 1: supporters said it gave an electoral voice to many people 146 00:08:21,480 --> 00:08:24,680 Speaker 1: who have made a home in the city and pay taxes, 147 00:08:24,960 --> 00:08:28,520 Speaker 1: but faced tough paths to citizenship. It is the latest 148 00:08:28,560 --> 00:08:31,600 Speaker 1: tragedy to claim the lives of migrants smuggled across the 149 00:08:31,640 --> 00:08:35,120 Speaker 1: border from Mexico to the US forties. Six people are 150 00:08:35,160 --> 00:08:38,480 Speaker 1: dead after being abandoned an attractor trailer on a remote 151 00:08:38,480 --> 00:08:42,800 Speaker 1: back road in San Antonio. Sixteen people were hospitalized, including 152 00:08:42,840 --> 00:08:49,280 Speaker 1: four children. San Antonio Police Chief Bill mcmanas, who heard 153 00:08:49,280 --> 00:08:55,080 Speaker 1: a cry for help, came out to investigate, found a 154 00:08:55,360 --> 00:08:58,840 Speaker 1: trailer with the doors partially opened, open them up to 155 00:08:58,840 --> 00:09:03,240 Speaker 1: take a look and found the number of um the 156 00:09:03,280 --> 00:09:07,520 Speaker 1: ceased individuals inside. Chief McManus says three people have been arrested. 157 00:09:07,800 --> 00:09:10,480 Speaker 1: At least three people are dead after an Amtrak train 158 00:09:10,600 --> 00:09:14,120 Speaker 1: hit a dump truck in rural Missouri and derailed. This 159 00:09:14,160 --> 00:09:16,920 Speaker 1: man was a passenger on board. Seats were coming apart, 160 00:09:17,360 --> 00:09:23,400 Speaker 1: bags were going everywhere, um and then after it stopped, 161 00:09:23,840 --> 00:09:27,800 Speaker 1: you can smell the fumes until people started panicking thinking 162 00:09:27,800 --> 00:09:29,760 Speaker 1: it was gonna catch fire. So we try to get 163 00:09:29,760 --> 00:09:32,640 Speaker 1: out as quick as possible. Federal investigators will be on 164 00:09:32,640 --> 00:09:35,800 Speaker 1: the scene today. Delane Maxwell will be sentenced today in 165 00:09:35,800 --> 00:09:39,720 Speaker 1: New York for helping the wealthy financeer Jeffrey Epstein sexually 166 00:09:39,760 --> 00:09:43,439 Speaker 1: abused underage girls. Maxwell's lawyers have asked the judge to 167 00:09:43,520 --> 00:09:46,640 Speaker 1: sentence there to no more than five years, while prosecutors 168 00:09:46,640 --> 00:09:50,040 Speaker 1: say she deserves at least thirty years. Behind bars. Global 169 00:09:50,040 --> 00:09:52,200 Speaker 1: News twenty four hours a day on air and on 170 00:09:52,240 --> 00:09:55,720 Speaker 1: Bloomberg Quick Take, powered by more than twenty hundred journalists 171 00:09:55,720 --> 00:09:58,480 Speaker 1: and analysts more than a hundred twenty countries. Michael Barr 172 00:09:58,520 --> 00:10:01,120 Speaker 1: and this is Bloomberg. Nathan. All right, Michael, thank you, 173 00:10:05,640 --> 00:10:07,360 Speaker 1: almost six cent on All Street time for the blue 174 00:10:07,400 --> 00:10:10,120 Speaker 1: Berg Sports Update. Here's John Stashow Banks Nathan. A near 175 00:10:10,280 --> 00:10:12,680 Speaker 1: upset of the Bronx Yankees at the best record baseball 176 00:10:12,679 --> 00:10:15,080 Speaker 1: Oakland A has had the worst, and yet they's got 177 00:10:15,080 --> 00:10:17,640 Speaker 1: the Jordan Montgomery the third and he scored five times, 178 00:10:17,720 --> 00:10:20,240 Speaker 1: led five to one, showing up. The Yanks came back 179 00:10:20,320 --> 00:10:22,560 Speaker 1: a bizarre seventh any when they were helped by two 180 00:10:23,240 --> 00:10:26,640 Speaker 1: catcher's interference calls against the ah Seawan Murphy, Josh Donaldson 181 00:10:26,720 --> 00:10:29,720 Speaker 1: Jose Ravinia, both at two undoubles. Yanks scored the last 182 00:10:29,800 --> 00:10:31,880 Speaker 1: eight runs. They won nine to five, not quite the 183 00:10:31,880 --> 00:10:35,760 Speaker 1: emotion of Sunday's comeback. Whenever Euston with Aaron Boom. Still 184 00:10:36,160 --> 00:10:39,080 Speaker 1: please the good one coming off, you know, obviously at 185 00:10:39,240 --> 00:10:43,240 Speaker 1: high energy, intense series, you know, come out here and 186 00:10:43,280 --> 00:10:47,280 Speaker 1: get a little rain. Early. Um I thought her energy 187 00:10:47,360 --> 00:10:51,320 Speaker 1: was good and uh and obviously a great fit of Nanks. 188 00:10:51,400 --> 00:10:54,240 Speaker 1: Now thirty two and nine at home. The Astros are 189 00:10:54,240 --> 00:10:56,080 Speaker 1: still in New York after that split in the Bronx. 190 00:10:56,120 --> 00:10:58,959 Speaker 1: They visit the Mets tonight. The feeling was things were 191 00:10:58,960 --> 00:11:01,160 Speaker 1: not good between Kybrie, Irving and the Nets, and so 192 00:11:01,240 --> 00:11:03,560 Speaker 1: Irving was gonna pass up the thirty seven million become 193 00:11:03,559 --> 00:11:06,400 Speaker 1: a free agent. Now perhaps there wasn't as much interest 194 00:11:06,520 --> 00:11:09,040 Speaker 1: as he expected. Irving is opting in he could still 195 00:11:09,080 --> 00:11:12,480 Speaker 1: be traded, and that's gm. Shawn Marks hinted wasn't thrilled 196 00:11:12,480 --> 00:11:15,199 Speaker 1: with some of Irvine's ways, and he likes players who 197 00:11:15,200 --> 00:11:18,600 Speaker 1: are available, which Tyree often is not. Opening. They had 198 00:11:18,640 --> 00:11:21,720 Speaker 1: wibbled of that. Venny jf Novak djokovid one in four sets. 199 00:11:21,720 --> 00:11:25,040 Speaker 1: Carlos Alcarez, the nineteen year old Spaniards seated fifth, needed 200 00:11:25,080 --> 00:11:27,959 Speaker 1: five sets, so that John isn't there. American Danielle Collins 201 00:11:28,000 --> 00:11:30,719 Speaker 1: seated seventh. She made us the Australian Open final. She 202 00:11:30,800 --> 00:11:33,640 Speaker 1: lost her first round match. Marlon Brisco has died. He 203 00:11:33,679 --> 00:11:35,720 Speaker 1: was seventy six and nineteen sixty eight. He was the 204 00:11:35,720 --> 00:11:39,400 Speaker 1: starting quarterback for the Denver Broncos, the first African American 205 00:11:39,440 --> 00:11:43,040 Speaker 1: starting QB in pro football history. John Stashun, We're Bloomberg 206 00:11:43,080 --> 00:11:46,880 Speaker 1: Sports all right, John, Thanks SMP features down up seventeen 207 00:11:46,920 --> 00:11:49,120 Speaker 1: points down, features up a hundred fifty three. NAT that 208 00:11:49,200 --> 00:11:52,160 Speaker 1: features are higher by forty three points. The tenure treasury 209 00:11:52,240 --> 00:11:55,120 Speaker 1: is down nine thirty seconds. The yield three point two 210 00:11:55,160 --> 00:11:57,679 Speaker 1: three percent up. Next, the latest from the G seven 211 00:11:57,679 --> 00:12:00,160 Speaker 1: as President Biden now heads to the NATOS. Some at 212 00:12:00,160 --> 00:12:08,000 Speaker 1: Bloomberg's Rosalind Mathieson joins us. Next, This is Bloomberg Bloomberg 213 00:12:08,000 --> 00:12:09,760 Speaker 1: eleven three O weather sunshine and a high and near 214 00:12:09,800 --> 00:12:13,520 Speaker 1: eighty today, mid eighties with Sunday sky Tomorrow sunny and 215 00:12:13,600 --> 00:12:16,440 Speaker 1: hot by Thursday with a high expected near ninety. Right 216 00:12:16,480 --> 00:12:23,120 Speaker 1: now sixty six and cloudy in Central Park markets. Headlines 217 00:12:23,160 --> 00:12:25,600 Speaker 1: and breaking new ones twenty four hours a day at 218 00:12:25,600 --> 00:12:29,520 Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktap. 219 00:12:29,800 --> 00:12:39,400 Speaker 1: This is a Bloomberg Business lash and I'm Karen Moscow 220 00:12:39,520 --> 00:12:43,160 Speaker 1: stocks are arising after China softened its strict COVID protocols 221 00:12:43,280 --> 00:12:45,959 Speaker 1: us an investor concern about global growth, and we check 222 00:12:46,040 --> 00:12:48,959 Speaker 1: the markets every fifteen minutes throughout the trading day. On Bloomberg, 223 00:12:49,000 --> 00:12:52,200 Speaker 1: futures are higher, with SMP futures up seventeen points down 224 00:12:52,280 --> 00:12:54,720 Speaker 1: futures have a hundred fifty five and NAST day futures 225 00:12:54,720 --> 00:12:57,520 Speaker 1: at forty three. The decks in Germany's up six tenths 226 00:12:57,559 --> 00:13:00,480 Speaker 1: of upper cent and your treasury down ten thirty seconds. 227 00:13:00,520 --> 00:13:02,640 Speaker 1: You three point to three percent, the yield on the 228 00:13:02,720 --> 00:13:06,120 Speaker 1: two year three point one three percent, Nimex screwed oils 229 00:13:06,120 --> 00:13:08,480 Speaker 1: at one point six percent of a dollar seventy seven 230 00:13:08,480 --> 00:13:10,760 Speaker 1: at a hundred eleven dollars thirty three cents, and barrel 231 00:13:11,000 --> 00:13:14,000 Speaker 1: comes gold is little change in eighteen twenty six and 232 00:13:14,080 --> 00:13:16,760 Speaker 1: ounce the euro one point oh five eight nine against 233 00:13:16,800 --> 00:13:19,080 Speaker 1: the dollar, British ground one point to two six five 234 00:13:19,440 --> 00:13:21,959 Speaker 1: and the yen at one thirty five point nine five. 235 00:13:22,040 --> 00:13:24,720 Speaker 1: And look at it bitcoin, it's up half percent at 236 00:13:24,840 --> 00:13:27,920 Speaker 1: twenty one thousand dollars. Today we're watching for reports on 237 00:13:28,000 --> 00:13:30,480 Speaker 1: wholesale inventories at an eight thirty Wall Street time and 238 00:13:30,559 --> 00:13:33,000 Speaker 1: nine we get two reports on home prices and at 239 00:13:33,000 --> 00:13:36,280 Speaker 1: tend consumer confidence. That's a Bloomberg business flash. Now here's 240 00:13:36,320 --> 00:13:39,240 Speaker 1: Michael Barr with more unless going on around the world. Chael, 241 00:13:39,720 --> 00:13:42,040 Speaker 1: thank you very much. Jar In the January six dollars 242 00:13:42,080 --> 00:13:45,360 Speaker 1: panel investigating the US capital ryot is holding a surprise 243 00:13:45,480 --> 00:13:48,920 Speaker 1: during today with a non identified witness. The last minute 244 00:13:48,920 --> 00:13:52,360 Speaker 1: proceedings are being cloaked in secrecy, raising expectations for new 245 00:13:52,400 --> 00:13:57,480 Speaker 1: bombshells in the sweeping investigation. Rescuers are searching through charred 246 00:13:57,559 --> 00:14:00,120 Speaker 1: rubble of a shopping mall for more victims of a 247 00:14:00,200 --> 00:14:03,440 Speaker 1: Russian missile strike that has killed at least eighteen and 248 00:14:03,440 --> 00:14:06,839 Speaker 1: wounded scores of others in a Ukrainian city. The U 249 00:14:06,960 --> 00:14:10,600 Speaker 1: n Security Council scheduled an emergency meeting today to discuss 250 00:14:10,679 --> 00:14:13,599 Speaker 1: the attack. In baseball, the Yankees one along with the 251 00:14:13,679 --> 00:14:17,200 Speaker 1: Nationals and Orioles, the Red Sox lost Global news twenty 252 00:14:17,200 --> 00:14:19,880 Speaker 1: four hours a day on air and on Bloomberg Quick Tank, 253 00:14:20,120 --> 00:14:23,160 Speaker 1: powered by more than journalists and analysts, are more than 254 00:14:23,160 --> 00:14:27,160 Speaker 1: a hundred twenty countries. How Michael Bar, this is Bloomberg, Nathan, Michael. Thanks, 255 00:14:27,160 --> 00:14:30,119 Speaker 1: It's six nineteen on Wall Street Live from the Bloomberg 256 00:14:30,120 --> 00:14:33,360 Speaker 1: Interactive Broker Studios. This is Bloomberg day Break. We want 257 00:14:33,360 --> 00:14:36,440 Speaker 1: to get more now on the summits overseas. President Biden 258 00:14:36,600 --> 00:14:39,080 Speaker 1: is moving on from the G seven in the Bavarian 259 00:14:39,120 --> 00:14:43,120 Speaker 1: Alps to a three day NATO summit in Madrid, as 260 00:14:43,280 --> 00:14:45,960 Speaker 1: both G seven and NATO leaders are focused on the 261 00:14:46,040 --> 00:14:50,960 Speaker 1: short and long term challenges of Russian aggression and arising China. 262 00:14:51,440 --> 00:14:54,680 Speaker 1: Joining us now from Bavaria. Bloomberg News Executive editor for 263 00:14:54,720 --> 00:14:58,080 Speaker 1: International Government Rosalind Matheson. Ros It's great to speak with 264 00:14:58,120 --> 00:15:00,240 Speaker 1: you this morning. Thanks for being with us, Gus. One 265 00:15:00,240 --> 00:15:01,800 Speaker 1: of the biggest developments to come out of the G 266 00:15:01,960 --> 00:15:06,320 Speaker 1: seven is this talk about talking about Russian oil and 267 00:15:06,400 --> 00:15:09,280 Speaker 1: gas price caps. I guess that gets to the challenge, 268 00:15:09,320 --> 00:15:13,400 Speaker 1: particularly in Europe, on how to punish Russia for the 269 00:15:13,480 --> 00:15:19,640 Speaker 1: invasion without hurting the European economy. Well, that's right. So 270 00:15:19,720 --> 00:15:22,600 Speaker 1: we're just getting the details now of the final communicate 271 00:15:22,760 --> 00:15:25,640 Speaker 1: of the leaders as they wrap up their meeting here, 272 00:15:25,640 --> 00:15:29,240 Speaker 1: and as expected, they're they're committing more broadly to the 273 00:15:29,320 --> 00:15:33,720 Speaker 1: idea of a cap on Russian oil prices. As you say, 274 00:15:33,760 --> 00:15:36,720 Speaker 1: the imperative there is to limit the amount of money 275 00:15:37,240 --> 00:15:40,680 Speaker 1: that's going into Vladimir Putin's war coffers because of course, 276 00:15:41,000 --> 00:15:46,200 Speaker 1: with energy prices so high, he's benefiting enormously and that's 277 00:15:46,200 --> 00:15:50,000 Speaker 1: really helping him fund his war machine. So being unable 278 00:15:50,040 --> 00:15:53,640 Speaker 1: to fully stop him selling oil to other countries, at 279 00:15:53,640 --> 00:15:55,760 Speaker 1: the least they can do is try and make sure 280 00:15:55,760 --> 00:15:57,800 Speaker 1: he can't get a good price for it. The equation 281 00:15:57,920 --> 00:16:00,800 Speaker 1: is how do you actually and that's a price caps. 282 00:16:00,920 --> 00:16:03,760 Speaker 1: So what they're they're doing now is simply saying they 283 00:16:03,760 --> 00:16:06,160 Speaker 1: think that there's some possibility here and they need to 284 00:16:06,200 --> 00:16:08,720 Speaker 1: go away and try and figure out exactly how to 285 00:16:08,800 --> 00:16:11,360 Speaker 1: do it. So many steps still to be overcome before 286 00:16:11,520 --> 00:16:14,280 Speaker 1: they actual price cap would be put in place. What's 287 00:16:14,320 --> 00:16:17,520 Speaker 1: the challenge rise for the G seven and NATO to 288 00:16:18,000 --> 00:16:22,480 Speaker 1: confront Russia while putting more of a focus now on 289 00:16:22,880 --> 00:16:27,280 Speaker 1: China and the economic challenge that the world's second biggest 290 00:16:27,320 --> 00:16:32,120 Speaker 1: economy poses. Well, that's right, it's a juggling out to 291 00:16:32,200 --> 00:16:34,920 Speaker 1: these nations. Of course, the US President Joe Biden when 292 00:16:34,960 --> 00:16:37,880 Speaker 1: he came in, made clear that his number one foreign 293 00:16:37,880 --> 00:16:42,920 Speaker 1: policy priority was China and tackling China's expanding economic and 294 00:16:42,960 --> 00:16:46,000 Speaker 1: strategic reach. And then of course came the war in Ukraine. 295 00:16:46,080 --> 00:16:49,960 Speaker 1: Russia's invasion, which kind of abended that and has caused 296 00:16:50,120 --> 00:16:52,960 Speaker 1: him to be distracted from his primary task. That the 297 00:16:53,000 --> 00:16:56,040 Speaker 1: question is, how can you continue to deal with Russia 298 00:16:56,360 --> 00:16:59,480 Speaker 1: while not taking arrive the ball on China and in 299 00:16:59,520 --> 00:17:02,760 Speaker 1: some way the too our interlinked. Of course, China has 300 00:17:02,840 --> 00:17:06,360 Speaker 1: refused to condemn Russia for its actions in Ukraine. It's 301 00:17:06,359 --> 00:17:10,520 Speaker 1: still buying Russian oil, its companies are still trading with 302 00:17:10,720 --> 00:17:14,040 Speaker 1: Russian companies, and President c GM Ping is perhaps not 303 00:17:14,160 --> 00:17:16,879 Speaker 1: leaning on the Russian president as hard as he could 304 00:17:17,600 --> 00:17:20,920 Speaker 1: to curtail his actions in Ukraine, but certainly is very 305 00:17:20,920 --> 00:17:23,960 Speaker 1: difficult the countries like the US to deal with these crises. 306 00:17:24,000 --> 00:17:28,280 Speaker 1: At the same time, meanwhile, China is simply building its 307 00:17:28,320 --> 00:17:31,639 Speaker 1: influence um as every day goes by, but certainly at 308 00:17:31,680 --> 00:17:34,080 Speaker 1: least a statement here of intent to try and refocus 309 00:17:34,119 --> 00:17:37,640 Speaker 1: attention on China. And even before this NATO summit gets 310 00:17:37,680 --> 00:17:40,800 Speaker 1: underway in Madrid, Spain, we've heard a lot of developments 311 00:17:40,920 --> 00:17:44,280 Speaker 1: from the Military Alliance, including word of this new strategic 312 00:17:44,359 --> 00:17:47,600 Speaker 1: posture document that's going to mention China for the first 313 00:17:47,680 --> 00:17:51,560 Speaker 1: time and Secretary General John Stoltenberg saying they're really going 314 00:17:51,640 --> 00:17:56,199 Speaker 1: to increase the rapid response force to confront Russia. What 315 00:17:56,320 --> 00:18:02,240 Speaker 1: further developments are we expecting ras from the NATAI ga ing, Well, 316 00:18:02,359 --> 00:18:04,679 Speaker 1: there are those two things that you've mentioned, but the 317 00:18:04,720 --> 00:18:09,040 Speaker 1: biggest issue on the table arguably for NATO as leaders meet, 318 00:18:09,080 --> 00:18:11,679 Speaker 1: there is a way to try and convince Turkey to 319 00:18:11,800 --> 00:18:16,440 Speaker 1: allow Sweden and Finland to join NATO. Of course, Turkey 320 00:18:16,520 --> 00:18:20,639 Speaker 1: is obstructing that membership application, citing what he says is 321 00:18:20,680 --> 00:18:24,320 Speaker 1: their support for what he calls Kurdish terrorists. And and 322 00:18:24,440 --> 00:18:27,200 Speaker 1: and urdu Wan will be at that meeting. There's a 323 00:18:27,280 --> 00:18:30,600 Speaker 1: possibility he'll even sit down with the US president. That 324 00:18:30,640 --> 00:18:32,320 Speaker 1: would be an effort by the US to try and 325 00:18:32,400 --> 00:18:36,359 Speaker 1: mediate through that and find a way for Turkey to 326 00:18:36,440 --> 00:18:40,359 Speaker 1: agree to unblock that membership right now, though of course 327 00:18:40,359 --> 00:18:43,120 Speaker 1: they're pretty dog in. The question is there's the US 328 00:18:43,160 --> 00:18:46,160 Speaker 1: have to provide Turkey with something in order to get 329 00:18:46,200 --> 00:18:48,560 Speaker 1: them over the lines. That have to sort of talk 330 00:18:48,640 --> 00:18:54,919 Speaker 1: about possibly giving them greater military weapons, perhaps even replacement 331 00:18:55,000 --> 00:18:58,440 Speaker 1: at sixteen fighter jets. Is that a way to convince 332 00:18:58,560 --> 00:19:01,439 Speaker 1: Urdue to show me he has gotten something for what 333 00:19:01,560 --> 00:19:05,200 Speaker 1: really is brinkmanship on the NATO front. But certainly that's 334 00:19:05,200 --> 00:19:07,920 Speaker 1: a key issue on the table. The yeah, and certainly 335 00:19:08,200 --> 00:19:13,200 Speaker 1: underscoring perhaps the importance of the Sweden Finland NATO candidacy. 336 00:19:13,280 --> 00:19:15,320 Speaker 1: We got word from the White House just this morning 337 00:19:15,560 --> 00:19:19,160 Speaker 1: the President Biden spoke with Turkish President ur Nowuan even 338 00:19:19,160 --> 00:19:22,560 Speaker 1: as he makes his way over to that summit in Madrid, Spain. 339 00:19:22,720 --> 00:19:26,400 Speaker 1: Rosalind Matheson, Executive editor for International Government for Bloomberg News, 340 00:19:26,920 --> 00:19:28,680 Speaker 1: thanks for being with us this morning, getting all the 341 00:19:28,680 --> 00:19:31,159 Speaker 1: way us on both these summits now under way, the 342 00:19:31,240 --> 00:19:34,400 Speaker 1: G seven wrapping up in the Bavarian Alps, as the 343 00:19:34,560 --> 00:19:38,399 Speaker 1: NATO leaders get set to meet for three days in Madrid, Spain. 344 00:19:38,680 --> 00:19:41,199 Speaker 1: Looking ahead to the market open on Wall Street, futures 345 00:19:41,200 --> 00:19:43,920 Speaker 1: are moving higher. We have SMP futures up nineteen points 346 00:19:44,000 --> 00:19:46,119 Speaker 1: right now, DAL futures up a hundred seventy three and 347 00:19:46,240 --> 00:19:50,720 Speaker 1: NASTAC futures higher by fifty two points. Looking at bonds, 348 00:19:50,800 --> 00:19:53,640 Speaker 1: the tenure is down nine thirty seconds, the yield three 349 00:19:53,680 --> 00:19:56,040 Speaker 1: point to three percent, and the yield on the two 350 00:19:56,119 --> 00:19:59,119 Speaker 1: year just about three point one three percent. For the 351 00:19:59,200 --> 00:20:07,600 Speaker 1: two year Treasury note, you're listening to Bloomberg Daybreak, and 352 00:20:07,640 --> 00:20:10,280 Speaker 1: Bloomberg day Break is brought to you by Hofstra University's 353 00:20:10,280 --> 00:20:13,119 Speaker 1: Frank gz RB School of Business, top ranked online NBA 354 00:20:13,200 --> 00:20:16,520 Speaker 1: program with a real world foundation. Learn more at Hofstra 355 00:20:16,640 --> 00:20:23,520 Speaker 1: dot e d U slash go grad. Broadcasting live from 356 00:20:23,520 --> 00:20:27,320 Speaker 1: the Bloomberg Interactive Broker Studio in New York, Bloomberg he 357 00:20:27,400 --> 00:20:31,360 Speaker 1: Loving Freedom to Washington, d C, Bloomberg On to Boston, 358 00:20:31,440 --> 00:20:35,360 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg sixteen, 359 00:20:35,400 --> 00:20:38,159 Speaker 1: to the Country Sirius XM tod A one nineteen and 360 00:20:38,280 --> 00:20:41,640 Speaker 1: around the globe the Bloomberg Business at and Bloomberg Radio 361 00:20:41,760 --> 00:20:51,000 Speaker 1: dot com. This is Bloomberg Daybreak hits six thirty on 362 00:20:51,000 --> 00:20:54,280 Speaker 1: Wall Street. Good morning, I'm Nathan Hayger and I'm Karen Moscow. 363 00:20:54,320 --> 00:20:56,399 Speaker 1: We're just about three hours away from the open of 364 00:20:56,480 --> 00:20:58,639 Speaker 1: US training. Time for the five things you need to 365 00:20:58,680 --> 00:21:01,840 Speaker 1: know to start your Dave Rotch you buy Interactive Brokers. 366 00:21:02,119 --> 00:21:05,480 Speaker 1: Interactive Brokers Global Analysts helps you find new global investment 367 00:21:05,480 --> 00:21:09,760 Speaker 1: opportunities to diversify your portfolio and discover undervalued companies that 368 00:21:09,800 --> 00:21:13,120 Speaker 1: may have greater growth potential. Try ibk our Global Analysts 369 00:21:13,119 --> 00:21:17,000 Speaker 1: today at ibker dot com, slash g a A first. 370 00:21:17,040 --> 00:21:20,080 Speaker 1: Stocks are rising after China made a major shift in 371 00:21:20,119 --> 00:21:23,639 Speaker 1: its COVID nineteen policy, it cut its quarantine period to 372 00:21:23,800 --> 00:21:27,600 Speaker 1: ten days from three weeks for inbound visitors. Bloomberry Senior 373 00:21:27,680 --> 00:21:30,960 Speaker 1: executive editor John Leui and Beijing outlines the reasons for 374 00:21:31,040 --> 00:21:34,320 Speaker 1: the move. The caseload has come down substantially. The other 375 00:21:34,359 --> 00:21:37,760 Speaker 1: thing is the economy has obviously been pummeled last week, 376 00:21:37,760 --> 00:21:40,840 Speaker 1: who had presidents coming out and saying that the government 377 00:21:40,920 --> 00:21:42,760 Speaker 1: is going to do what it can to hit this 378 00:21:42,840 --> 00:21:45,159 Speaker 1: year's growth target. If the government is value and if 379 00:21:45,200 --> 00:21:47,639 Speaker 1: it's willing to take steps like this, it's possible we 380 00:21:47,720 --> 00:21:49,520 Speaker 1: might get closer to five and a half percent than 381 00:21:49,600 --> 00:21:52,960 Speaker 1: previously thought. Bloombery John Luis has stocks in AJR race 382 00:21:53,080 --> 00:21:56,119 Speaker 1: losses to climb for a fourth session. Karen Futures are 383 00:21:56,119 --> 00:21:58,160 Speaker 1: getting a boost as well after stocks started the week 384 00:21:58,200 --> 00:22:00,760 Speaker 1: in the US on a losing note. River Front Investment 385 00:22:00,760 --> 00:22:04,080 Speaker 1: Group chief investment strategist Chris Constantino says, with the outlook 386 00:22:04,080 --> 00:22:07,080 Speaker 1: remaining unclear, investors should put their money in safe assets. 387 00:22:07,400 --> 00:22:10,320 Speaker 1: We think that clipping coupons in the form of you know, 388 00:22:10,359 --> 00:22:14,320 Speaker 1: dividend yields from safe, high quality, high cash low type 389 00:22:14,320 --> 00:22:17,119 Speaker 1: equities as well as certain parts of the fixed income world. 390 00:22:17,359 --> 00:22:19,080 Speaker 1: Those types of instruments are really going to be an 391 00:22:19,119 --> 00:22:21,280 Speaker 1: investor's best friend, we think for the next few years. 392 00:22:21,359 --> 00:22:24,600 Speaker 1: Chris Constantinos, Riverfront Investment Group says the macro environment in 393 00:22:24,640 --> 00:22:28,040 Speaker 1: the U S and globally remains uncertain well overseas, Nathan. 394 00:22:28,080 --> 00:22:31,360 Speaker 1: The European Central Banks Annual Forum in Central is underway. 395 00:22:31,520 --> 00:22:34,240 Speaker 1: ECB President Christine and the Guard addressed interest rates and 396 00:22:34,280 --> 00:22:38,000 Speaker 1: inflation in a keynote speech. In response to the changing 397 00:22:38,119 --> 00:22:42,400 Speaker 1: inflation outlook. We have consistently followed the path of policy 398 00:22:42,480 --> 00:22:48,240 Speaker 1: normalization since December last year, sequentially adjusting our policy stunts. 399 00:22:48,480 --> 00:22:51,240 Speaker 1: ECB President Christine le guards and inflation in Europe is 400 00:22:51,280 --> 00:22:55,240 Speaker 1: expected to remain undesirably high in the foreseeable future. President 401 00:22:55,280 --> 00:22:56,919 Speaker 1: Biden's on his way to Madrid Careen for a three 402 00:22:57,000 --> 00:22:59,359 Speaker 1: day NATO some with a group of seven gathering coming 403 00:22:59,400 --> 00:23:01,639 Speaker 1: to a close. The White House says the President spoke 404 00:23:01,640 --> 00:23:04,679 Speaker 1: with Turkeys President on the way. Well back here at home, Nathan, 405 00:23:04,680 --> 00:23:08,800 Speaker 1: The January six Committee added an additional hearing scheduled for today. 406 00:23:08,880 --> 00:23:12,840 Speaker 1: Sources ATOS center around information and footage from documentary filmmaker 407 00:23:12,880 --> 00:23:15,359 Speaker 1: Alex Holder. That's the five things that you need to 408 00:23:15,359 --> 00:23:17,960 Speaker 1: know to start your day brought to you by Interactive 409 00:23:18,000 --> 00:23:21,720 Speaker 1: Brokers and futures this morning are gaining s and P 410 00:23:21,920 --> 00:23:24,280 Speaker 1: futures up twenty one points in OW futures up a 411 00:23:24,320 --> 00:23:27,480 Speaker 1: hundred eighty Nasdack futures up fifty six. The decks in 412 00:23:27,560 --> 00:23:30,680 Speaker 1: Germany up about eight tenths of upper cents. Straight ahead 413 00:23:30,680 --> 00:23:33,119 Speaker 1: your latest local headlines, plus a check of sports. This 414 00:23:33,640 --> 00:23:39,840 Speaker 1: is Bloomberg. Hi, Karen. Thanks at six thirty three on 415 00:23:39,840 --> 00:23:42,359 Speaker 1: Wall Street where sixty six degrees in Central Park and 416 00:23:42,400 --> 00:23:44,800 Speaker 1: delayser building on the upper level of the George Washington 417 00:23:44,880 --> 00:23:47,840 Speaker 1: Bridge after an earlier accident. Details coming up in traffic. 418 00:23:48,119 --> 00:23:50,159 Speaker 1: Michael bars here first with what else is going on 419 00:23:50,200 --> 00:23:52,399 Speaker 1: in New York and around the world. Good morning, Michael, 420 00:23:52,520 --> 00:23:55,679 Speaker 1: Good morning Nathan. Today marks the first election since the 421 00:23:55,680 --> 00:23:59,680 Speaker 1: Supreme Court revoked woman's constitutional rights when abortion it is 422 00:23:59,720 --> 00:24:03,040 Speaker 1: it's issue in multiple races and primaries and seven states, 423 00:24:03,040 --> 00:24:06,480 Speaker 1: including New York Governor Kathy Hoco faces Tom Swazi and 424 00:24:06,560 --> 00:24:12,640 Speaker 1: Jamanni Williams for the Democratic gubernatorial nomination. Rob Astino Andrew Giuliani, 425 00:24:12,680 --> 00:24:15,199 Speaker 1: Harry Wilson, and lee Z Elden are running for the 426 00:24:15,320 --> 00:24:18,959 Speaker 1: GOP nomination for governor. A Staten Island judges blocked New 427 00:24:19,040 --> 00:24:21,919 Speaker 1: York City from letting non citizens vote for mayor and 428 00:24:22,000 --> 00:24:25,840 Speaker 1: other municipal offices. The judge agreed with Republicans who challenged 429 00:24:25,880 --> 00:24:30,440 Speaker 1: the measure as unconstitutional. A federal court in Louisiana temporarily 430 00:24:30,440 --> 00:24:35,119 Speaker 1: blocked the state from enforcing its abortion ban. Louisiana is 431 00:24:35,119 --> 00:24:38,440 Speaker 1: one of thirteen states with triggering laws that took effect 432 00:24:38,480 --> 00:24:41,680 Speaker 1: when the Supreme Court overturned the federal right to an abortion. 433 00:24:41,880 --> 00:24:46,560 Speaker 1: Abortion clinics there immediately sued to stop Louisiana's band, saying 434 00:24:46,600 --> 00:24:50,040 Speaker 1: it lacks safeguards to prevent the state from arbitrarily enforcing it. 435 00:24:50,600 --> 00:24:53,159 Speaker 1: Police say forty six people were found dead in a 436 00:24:53,280 --> 00:24:57,399 Speaker 1: semi trailer parked in San Antonio, Texas, likely victims of 437 00:24:57,400 --> 00:25:00,840 Speaker 1: each strokes and now the sixteen were taken to area hospitals. 438 00:25:00,960 --> 00:25:03,800 Speaker 1: Temperatures climbed to a hundred three degrees in San Antonio. 439 00:25:04,359 --> 00:25:09,399 Speaker 1: Mayor ron Nyronberg suggests that the people who died were immigrants. 440 00:25:09,720 --> 00:25:13,600 Speaker 1: We are dealing with a horrific human tragedy, so I 441 00:25:13,600 --> 00:25:16,560 Speaker 1: would urge you all to think compassionately and pray for 442 00:25:16,600 --> 00:25:22,440 Speaker 1: the deceased, the ailing the families. Mayor ron Nyrenberg. Three 443 00:25:22,480 --> 00:25:25,320 Speaker 1: people have been taken into custody. Three people are dead 444 00:25:25,359 --> 00:25:27,920 Speaker 1: after an Amtrak train hit a dump truck in rural 445 00:25:27,960 --> 00:25:32,080 Speaker 1: Missouri between Kansas City and St. Louis. The train then derailed. 446 00:25:32,280 --> 00:25:34,560 Speaker 1: This man was a passenger on board. The thing that's 447 00:25:34,560 --> 00:25:36,280 Speaker 1: going to step with me the most is the smell 448 00:25:37,040 --> 00:25:41,080 Speaker 1: of just the train, the grinding of the nettle and everything. 449 00:25:41,440 --> 00:25:45,720 Speaker 1: INDSB investigators will be on the accident scene today. Delaine 450 00:25:45,760 --> 00:25:48,200 Speaker 1: Maxwell will be sentenced today in New York for helping 451 00:25:48,240 --> 00:25:52,600 Speaker 1: the wealthy financier Jeffrey Epstein sexually abused underage girls. The 452 00:25:52,720 --> 00:25:55,560 Speaker 1: prosecution will likely paint a picture of how Epstein and 453 00:25:55,560 --> 00:26:00,080 Speaker 1: Maxwell flaunted their riches and associations with prominent people to 454 00:26:00,160 --> 00:26:05,000 Speaker 1: groom vulnerable girls and then exploit them. Maxwell denies abusing anyone. 455 00:26:05,400 --> 00:26:07,960 Speaker 1: Global News twenty four hours a day on air and 456 00:26:08,160 --> 00:26:11,120 Speaker 1: on Bloomberg quick Take, powered by more than twenty seven 457 00:26:11,160 --> 00:26:14,240 Speaker 1: hundred journalists and analyst in more than a hundred twenty countries, 458 00:26:14,280 --> 00:26:17,400 Speaker 1: and Michael Barren. This is Bloomberg, Nathan, Michael, thank you 459 00:26:22,040 --> 00:26:24,440 Speaker 1: Almost six thirty six On Wall Street. John stash Ower 460 00:26:24,520 --> 00:26:27,560 Speaker 1: has the Bloomberg Sports Update. Thanks from the Yankees. Fifty 461 00:26:27,600 --> 00:26:29,840 Speaker 1: fourth win of the year, the thirty second at home, 462 00:26:29,880 --> 00:26:32,600 Speaker 1: and it was their twenty third come from behind victory. 463 00:26:32,640 --> 00:26:34,600 Speaker 1: In fact, in each of the yanks last four wins, 464 00:26:34,600 --> 00:26:36,800 Speaker 1: they failed by at least three runs. They were down 465 00:26:36,840 --> 00:26:40,200 Speaker 1: by four as the lowly Oakland A scored five times 466 00:26:40,200 --> 00:26:41,800 Speaker 1: in the third any, but the Yanks put up six 467 00:26:41,880 --> 00:26:44,920 Speaker 1: in the seventh. The first run was scored with a walk, 468 00:26:44,960 --> 00:26:47,000 Speaker 1: a catcher's in afference call a hit by pitch, and 469 00:26:47,040 --> 00:26:50,760 Speaker 1: then another catcher's in afference joh Donaldson. Jose Travino then 470 00:26:50,760 --> 00:26:53,280 Speaker 1: had two undoubles. Yanks b the a S nine to five. 471 00:26:53,400 --> 00:26:55,440 Speaker 1: The Mets are back home tonight to play the Astros. 472 00:26:55,800 --> 00:26:58,640 Speaker 1: NBA free agency comes next to mat Kyrie every will 473 00:26:58,680 --> 00:27:01,359 Speaker 1: not be a free agent. He's opping in with the Nets. 474 00:27:01,560 --> 00:27:04,000 Speaker 1: He'll make thirty seven million to be a free agent 475 00:27:04,119 --> 00:27:05,680 Speaker 1: next year, and we'll see if the Nets still try 476 00:27:05,720 --> 00:27:08,520 Speaker 1: to trade him. They like irving the flare, but maybe 477 00:27:08,520 --> 00:27:10,400 Speaker 1: not just thrilled with some of the baggage that comes 478 00:27:10,440 --> 00:27:12,640 Speaker 1: with him. John Wall, at one time All Star guard, 479 00:27:12,640 --> 00:27:14,960 Speaker 1: hasn't played much lately to the injury. He said to 480 00:27:15,000 --> 00:27:17,399 Speaker 1: be headed to the l A Clippers. Deshaun Watson as 481 00:27:17,440 --> 00:27:19,800 Speaker 1: a hearing today before the former judge who will decide 482 00:27:20,240 --> 00:27:22,840 Speaker 1: if he's to be suspended by the NFL for sexual 483 00:27:22,880 --> 00:27:26,119 Speaker 1: misconduct with numerous women. A year ago at Wimbledon, Serena 484 00:27:26,160 --> 00:27:28,640 Speaker 1: Williams heard her hamstring in the opening round. Wasn't known 485 00:27:28,680 --> 00:27:30,720 Speaker 1: if she would play again, but then now forty year 486 00:27:30,760 --> 00:27:34,119 Speaker 1: old seven time Wimbledon champ will be on center for today. 487 00:27:34,320 --> 00:27:38,600 Speaker 1: I didn't retire. I just needed to hell physically mentally. 488 00:27:40,080 --> 00:27:45,439 Speaker 1: Um and yeah, I just I had no plans, to 489 00:27:45,480 --> 00:27:48,840 Speaker 1: be honest, I just didn't know when I would come back. 490 00:27:48,880 --> 00:27:53,480 Speaker 1: I don't know how I would come back, and um 491 00:27:53,600 --> 00:27:57,440 Speaker 1: it just you know, obviously Wimbledon is such a great 492 00:27:57,440 --> 00:28:00,960 Speaker 1: place to be still chasing the Ransom title with the 493 00:28:01,040 --> 00:28:03,840 Speaker 1: Tye the all time record. John stash were Bloomberg Sport. 494 00:28:04,359 --> 00:28:06,119 Speaker 1: Not good to see your back, all right, John, thank you. 495 00:28:06,200 --> 00:28:08,080 Speaker 1: At six thirty seven on Wall Street, time to take 496 00:28:08,080 --> 00:28:09,760 Speaker 1: a look at stock some of the names moving in 497 00:28:09,800 --> 00:28:13,240 Speaker 1: the pre market. Bloomberg Radio and TV Markets correspondent Creedy 498 00:28:13,280 --> 00:28:16,199 Speaker 1: Gupta is back with us this morning. Creety, what's on 499 00:28:16,320 --> 00:28:18,720 Speaker 1: your eye this morning? Well, let's start with the earning story. 500 00:28:18,800 --> 00:28:21,560 Speaker 1: Nathan Nike coming out UM for with some kind of 501 00:28:21,640 --> 00:28:23,760 Speaker 1: interesting mixed results. Here'm gonna break it down, n K 502 00:28:23,920 --> 00:28:25,960 Speaker 1: easier taking. The shares are down about three percent in 503 00:28:26,000 --> 00:28:28,199 Speaker 1: the pre market, and it's kind of interesting because they 504 00:28:28,280 --> 00:28:30,879 Speaker 1: beat their earnings overall. If you actually even look at 505 00:28:30,920 --> 00:28:34,000 Speaker 1: this on a constant currency basis, which essentially gets rid 506 00:28:34,040 --> 00:28:36,440 Speaker 1: of all the currency fluctuations. We know that the dollar 507 00:28:36,520 --> 00:28:39,360 Speaker 1: has been extremely strong, so any kind of overseas sales 508 00:28:39,440 --> 00:28:41,000 Speaker 1: or profits you have to bring it back to the 509 00:28:41,040 --> 00:28:43,640 Speaker 1: States and convert it into dollars, which means you're essentially 510 00:28:43,680 --> 00:28:46,480 Speaker 1: making less profit when you kind of make that conversion. 511 00:28:46,480 --> 00:28:49,760 Speaker 1: But when you calculated on a constant currency basis, global 512 00:28:49,800 --> 00:28:52,160 Speaker 1: sales actually rose three percent. Remember this is in an 513 00:28:52,200 --> 00:28:54,360 Speaker 1: era where a lot of people are saying consumers around 514 00:28:54,360 --> 00:28:56,800 Speaker 1: the world are going to start pulling back, pinching pennies, 515 00:28:56,840 --> 00:28:59,280 Speaker 1: trying to get kind of ahead of a lot of 516 00:28:59,320 --> 00:29:02,120 Speaker 1: that recession to nevertheless Nike coming out on top. But 517 00:29:02,240 --> 00:29:04,480 Speaker 1: here's what the shares are reacting to here. It's that 518 00:29:04,640 --> 00:29:07,120 Speaker 1: downbeat full year forecast, and they're saying a lot of 519 00:29:07,120 --> 00:29:09,720 Speaker 1: it is coming from the issues in the Chinese market. 520 00:29:09,800 --> 00:29:12,400 Speaker 1: They say it's a very long term game for them 521 00:29:12,400 --> 00:29:15,320 Speaker 1: in the China market. But recently in this quarter especially 522 00:29:15,320 --> 00:29:18,600 Speaker 1: their sales dropped twenty percent, Nathan, and has everything to 523 00:29:18,640 --> 00:29:20,720 Speaker 1: do with those COVID lockdowns. They're just not able to 524 00:29:20,760 --> 00:29:24,440 Speaker 1: get their UH products out, but they're also not able 525 00:29:24,480 --> 00:29:26,440 Speaker 1: to really get those sales in that market that was 526 00:29:26,480 --> 00:29:28,360 Speaker 1: supposed to be so lucrative. And that's the theme that 527 00:29:28,400 --> 00:29:30,800 Speaker 1: you're seeing really around the world. Yeah, and the theme 528 00:29:30,800 --> 00:29:33,600 Speaker 1: we're seeing this morning with a positive sentiment more broadly 529 00:29:33,640 --> 00:29:37,480 Speaker 1: with China least lifting some restrictions and I see robin 530 00:29:37,520 --> 00:29:41,320 Speaker 1: Hoods on your list. Some merger talk there potentially, Um, 531 00:29:41,480 --> 00:29:45,000 Speaker 1: I'm gonna set he's very technical term here, Nathan, wishy washy. 532 00:29:45,400 --> 00:29:48,080 Speaker 1: That is kind of getting really deep this morning. It's 533 00:29:48,080 --> 00:29:51,200 Speaker 1: six thirty. Yes, we're looking at robin Hood shares h 534 00:29:51,320 --> 00:29:53,760 Speaker 1: o O D is your ticker. It's down about well, 535 00:29:53,800 --> 00:29:56,200 Speaker 1: let's just call it four percent here this morning. It's 536 00:29:56,240 --> 00:29:59,760 Speaker 1: interesting because it came from news yesterday afternoon that Sam 537 00:29:59,760 --> 00:30:04,040 Speaker 1: Bank but phrase FTX Crypto Exchange would is exploring whether 538 00:30:04,040 --> 00:30:06,440 Speaker 1: it might be able to acquire robin Hood. According to 539 00:30:06,440 --> 00:30:08,920 Speaker 1: people with knowledge of the matter. That being said dal 540 00:30:09,040 --> 00:30:12,200 Speaker 1: Jones now reporting that the CEO says that they're not 541 00:30:12,280 --> 00:30:15,120 Speaker 1: in active talks with Robin Hood. That doesn't necessarily mean 542 00:30:15,120 --> 00:30:17,600 Speaker 1: that they're not still exploring a path, but they're not 543 00:30:17,680 --> 00:30:19,760 Speaker 1: an active talk. So what the share prices have done 544 00:30:19,840 --> 00:30:22,160 Speaker 1: yes or down about four percent in the pre market, 545 00:30:22,160 --> 00:30:25,440 Speaker 1: but they were up four percent yesterday afternoon. So if 546 00:30:25,440 --> 00:30:27,200 Speaker 1: you actually look at a net net the shares are 547 00:30:27,200 --> 00:30:29,080 Speaker 1: actually positive when you look at it the last twenty 548 00:30:29,080 --> 00:30:30,400 Speaker 1: four hours, which is kind of a weird way to 549 00:30:30,400 --> 00:30:32,200 Speaker 1: look at it. But keep an eye on these shares 550 00:30:32,520 --> 00:30:34,320 Speaker 1: as we get more commentary on it. And I'll leave 551 00:30:34,360 --> 00:30:36,520 Speaker 1: you with one last one, Spirit Airlines talking about M 552 00:30:36,560 --> 00:30:39,360 Speaker 1: and A. Here s a b E up four percent, 553 00:30:39,720 --> 00:30:42,360 Speaker 1: Jet Blue boosting it's all cash bit in response to 554 00:30:42,400 --> 00:30:45,360 Speaker 1: an increased offer Bright Frontier. Remember this is days before 555 00:30:45,400 --> 00:30:48,800 Speaker 1: that crucial shareholder both on Tunet. Yeah, even following that 556 00:30:48,920 --> 00:30:52,040 Speaker 1: saga for days and looks like we'll continue to do so. 557 00:30:52,120 --> 00:30:55,680 Speaker 1: Boomberg Radio on TV Markets correspondent Creed Gupta with us 558 00:30:55,800 --> 00:30:59,120 Speaker 1: on a morning where shares as a whole are moving higher. 559 00:30:59,520 --> 00:31:03,400 Speaker 1: On that from China that COVID quarantines for inbound traveler 560 00:31:03,440 --> 00:31:05,600 Speaker 1: is gonna be cut in half. SMP futures are up 561 00:31:05,600 --> 00:31:09,200 Speaker 1: twenty one points foul futures up eighty six. NASAC futures 562 00:31:09,200 --> 00:31:11,520 Speaker 1: are higher by fifty nine points, and the tenure treasury 563 00:31:11,600 --> 00:31:14,880 Speaker 1: is down eight thirty seconds, the yield three point to 564 00:31:15,120 --> 00:31:23,720 Speaker 1: three percent. This is Bloomberg Bloomberg eleven three oh weather 565 00:31:23,800 --> 00:31:27,400 Speaker 1: sunshine with a higher eighty today, mid eighties and sunny tomorrow, 566 00:31:27,840 --> 00:31:30,640 Speaker 1: sunny and hot for Thursday, the higher ninety right now, 567 00:31:30,720 --> 00:31:38,440 Speaker 1: cloudy and sixty seven degrees in Central Park markets. Headlines 568 00:31:38,480 --> 00:31:41,480 Speaker 1: and breaking news twenty four hours a day at Bloomberg 569 00:31:41,520 --> 00:31:44,920 Speaker 1: dot Com, a Bloomberg business atand at Bloomberg Quick Tape, 570 00:31:45,480 --> 00:31:54,200 Speaker 1: He's a Bloomberg business lash and I'm Karen Moscow and 571 00:31:54,320 --> 00:31:56,640 Speaker 1: futures are on the rise. This morning we get to 572 00:31:56,640 --> 00:31:59,040 Speaker 1: the first word breaking news desk for today's morning call. 573 00:31:59,120 --> 00:32:02,400 Speaker 1: Here's Bill Malot, name Bell, Good morning, and good morning, Karen. 574 00:32:02,440 --> 00:32:04,400 Speaker 1: That's right you as features are on the green. Right now, 575 00:32:04,480 --> 00:32:06,400 Speaker 1: dowt futures up a hundred and eighty three points as 576 00:32:06,480 --> 00:32:09,160 Speaker 1: to these game twenty two Well, NASDA futures rise by 577 00:32:09,280 --> 00:32:12,320 Speaker 1: fifties seven. The US ten year at three point to 578 00:32:12,560 --> 00:32:15,440 Speaker 1: three percent, Gold is little changed, Oil is climbing, and 579 00:32:15,560 --> 00:32:18,640 Speaker 1: Bitcoin is higher by half a percent. Shanghai rose point 580 00:32:18,680 --> 00:32:22,400 Speaker 1: nine percent overnight. Note that China cut its quarantine travel time, 581 00:32:22,680 --> 00:32:24,680 Speaker 1: while RPM markets are in the green, led by one 582 00:32:24,680 --> 00:32:27,960 Speaker 1: percent gains in Spain and the UK back in the US. 583 00:32:28,000 --> 00:32:30,920 Speaker 1: On the economic frontday thirty whostale inventories and at ten 584 00:32:30,920 --> 00:32:34,600 Speaker 1: o'clock consumer confidence and Richmond fed After the BELUS night, 585 00:32:34,640 --> 00:32:37,280 Speaker 1: nak Nike gave a downbeat guide and shares a down 586 00:32:37,280 --> 00:32:39,320 Speaker 1: town a half percent in the pre market, and Bank 587 00:32:39,360 --> 00:32:42,720 Speaker 1: of America, Morgan Stanley, Wills Fargo, and Goldman Sachs all 588 00:32:42,840 --> 00:32:45,640 Speaker 1: raised their dividends. In deal news, the f t X 589 00:32:45,720 --> 00:32:48,360 Speaker 1: CEO said there are no active talks about a robin 590 00:32:48,400 --> 00:32:51,480 Speaker 1: Hood takeover, and another news, Goldman Sachs said US profit 591 00:32:51,520 --> 00:32:55,400 Speaker 1: margin estimates are too optimistic, rapping things up. Boston Beer 592 00:32:55,520 --> 00:32:58,400 Speaker 1: was cut to sell Goldman Sachs, Snowflake raised to buy Jeffreys, 593 00:32:58,680 --> 00:33:02,120 Speaker 1: and Verizon was raised to sector outperform over at Scotia 594 00:33:02,200 --> 00:33:04,880 Speaker 1: Bank Live from the first to Breaking news deskon Bill 595 00:33:04,880 --> 00:33:07,160 Speaker 1: Maloney camp All right, Bill, thank you, and here live 596 00:33:07,200 --> 00:33:10,560 Speaker 1: breaking news over here. Bloomberg type squawk on your terminal. 597 00:33:10,800 --> 00:33:13,800 Speaker 1: That's squ a w K. That's a Bloomberg business flash 598 00:33:13,800 --> 00:33:15,800 Speaker 1: now here's Michael Barrow with more on what's going on 599 00:33:15,840 --> 00:33:18,680 Speaker 1: around the world. Michael, thank you very much. Karon. Mystery 600 00:33:18,680 --> 00:33:22,040 Speaker 1: surrounds a surprise January sixth hearing that will take place 601 00:33:22,040 --> 00:33:25,360 Speaker 1: this afternoon. The committee says the hearing will present recently 602 00:33:25,400 --> 00:33:30,120 Speaker 1: obtained evidence, raising the expectations of new bombshells. Rescuers are 603 00:33:30,160 --> 00:33:32,720 Speaker 1: searching through charter rubble of the shopping mall for more 604 00:33:32,800 --> 00:33:35,440 Speaker 1: victims of a Russian missile strike that has killed at 605 00:33:35,520 --> 00:33:38,920 Speaker 1: least eighteen and wounded scores of others in the Ukrainian city. 606 00:33:39,240 --> 00:33:42,520 Speaker 1: Many of the more than one thousand people inside managed 607 00:33:42,600 --> 00:33:46,280 Speaker 1: to escape. The UN Security Councils scheduled an emergency meeting 608 00:33:46,320 --> 00:33:49,640 Speaker 1: today to discuss the attack. In baseball, the Yankees one 609 00:33:49,760 --> 00:33:52,440 Speaker 1: along with the Nationals and Orioles the Red Sox lost 610 00:33:52,760 --> 00:33:55,480 Speaker 1: Global news twenty four hours a day on air and 611 00:33:55,640 --> 00:33:59,040 Speaker 1: on Bloomberg Quick Take, powered by more than seven journalists 612 00:33:59,040 --> 00:34:02,240 Speaker 1: and analysts in more than countries. I'm MICHAELA. Bar This 613 00:34:02,520 --> 00:34:05,680 Speaker 1: is Bloomberg hearent alright, Michael, thank you. It is sixty 614 00:34:05,800 --> 00:34:08,640 Speaker 1: nine on Wall Street. Return to news now in science 615 00:34:08,680 --> 00:34:11,120 Speaker 1: and Technology with the Bloomberg and j I T. Stem 616 00:34:11,160 --> 00:34:14,359 Speaker 1: Report brought to you by New Jersey Institute of Technology 617 00:34:14,440 --> 00:34:17,120 Speaker 1: and j i T is dedicated to bolstering support for 618 00:34:17,239 --> 00:34:21,799 Speaker 1: female and minority students pursuing careers in high paying STEM industries. 619 00:34:22,080 --> 00:34:24,680 Speaker 1: Learn more at n j i T dot ETU. You know, 620 00:34:24,800 --> 00:34:28,279 Speaker 1: here's what's making news in science, technology, engineering and math now. 621 00:34:28,360 --> 00:34:30,759 Speaker 1: SO wants to experiment with a new orbit around the 622 00:34:30,800 --> 00:34:32,959 Speaker 1: Moon that it hopes to use in the coming years 623 00:34:33,000 --> 00:34:36,040 Speaker 1: to once again land astronauts on the lunar surface. So 624 00:34:36,080 --> 00:34:38,600 Speaker 1: it's sending up a test satellite from New Zealand, with 625 00:34:38,640 --> 00:34:42,320 Speaker 1: the launch scheduled for later today. If successful, the Capstone 626 00:34:42,400 --> 00:34:45,640 Speaker 1: Cube SAT satellite, only about the size of a microwave oven, 627 00:34:45,880 --> 00:34:47,960 Speaker 1: will be the first to take the new path around 628 00:34:48,000 --> 00:34:50,520 Speaker 1: the Moon and we'll send back vital information for at 629 00:34:50,560 --> 00:34:54,640 Speaker 1: least six months. Google's cloud computing division is preparing to 630 00:34:54,640 --> 00:34:57,400 Speaker 1: reveal the carbon footprint for its workspace apps as it 631 00:34:57,400 --> 00:35:01,000 Speaker 1: builds out its suite of tools to help customers assess 632 00:35:01,080 --> 00:35:04,120 Speaker 1: their impact in the environment. The move by Apple owned 633 00:35:04,239 --> 00:35:07,680 Speaker 1: Google Cloud Expands or Alphabet owned Google Cloud I should 634 00:35:07,680 --> 00:35:10,480 Speaker 1: have said, expands measures on veiled last year to help 635 00:35:10,480 --> 00:35:13,759 Speaker 1: clients measure and reduce the gross carbon emissions of using 636 00:35:13,800 --> 00:35:18,680 Speaker 1: Google cloud services. Google aims to be completely decarbonaged by 637 00:35:17,600 --> 00:35:21,439 Speaker 1: twenty and Netflix is looking to Asia, seeking to both 638 00:35:21,480 --> 00:35:24,880 Speaker 1: maintain growth in the one region where it's still adding 639 00:35:24,880 --> 00:35:28,440 Speaker 1: subscribers and replicated success there in other parts of the world. 640 00:35:28,640 --> 00:35:31,720 Speaker 1: The company says, despite plans to curb overall spending, investment 641 00:35:31,760 --> 00:35:34,800 Speaker 1: in Asia will keep growing, including financing for the production 642 00:35:34,840 --> 00:35:37,680 Speaker 1: of local films and series. And that's a Bloomberg and 643 00:35:37,800 --> 00:35:40,600 Speaker 1: j I t Stem report taken. All right, Karen, Thanks, 644 00:35:40,600 --> 00:35:43,480 Speaker 1: We're live from the Bloomberg Interactive Brokers studios where we're 645 00:35:43,520 --> 00:35:45,759 Speaker 1: coming up to six fifty one on Wall Street, and 646 00:35:45,800 --> 00:35:47,480 Speaker 1: it's now time to check what's going on in d C. 647 00:35:48,040 --> 00:35:50,320 Speaker 1: Some of the top stories from our nation's capital include 648 00:35:50,320 --> 00:35:53,840 Speaker 1: President Biden heading to a three day NATO summit following 649 00:35:53,880 --> 00:35:57,799 Speaker 1: gatherings from the G seven in the Bavarian Alps, the 650 00:35:57,800 --> 00:36:00,840 Speaker 1: White House dodging calls to use fed old property for 651 00:36:00,880 --> 00:36:05,080 Speaker 1: abortions after the post road decision, and the January six 652 00:36:05,080 --> 00:36:08,160 Speaker 1: Committee holding a surprise hearing today on new evidence. Let's 653 00:36:08,160 --> 00:36:10,920 Speaker 1: bring in Bloomberg Government reporter Emily Wilkins for more on 654 00:36:10,960 --> 00:36:14,520 Speaker 1: all these stories. As we continue to follow President Biden's 655 00:36:14,560 --> 00:36:17,520 Speaker 1: progress through the summits oversees emily what should we be 656 00:36:17,520 --> 00:36:21,719 Speaker 1: watching for today from the NATO summit? So a couple 657 00:36:21,760 --> 00:36:24,640 Speaker 1: of different things. UM. One of the big ones is 658 00:36:24,640 --> 00:36:26,799 Speaker 1: exactly what the NATO Summit is going to be doing 659 00:36:26,920 --> 00:36:30,279 Speaker 1: in terms of China. Right now, they're working on some 660 00:36:30,360 --> 00:36:33,440 Speaker 1: draft language, but it seems like they're going to be 661 00:36:33,680 --> 00:36:38,799 Speaker 1: labeling China a strategic challenge in a policy document going forward, UH, 662 00:36:39,000 --> 00:36:41,800 Speaker 1: noting that they're going to highlight some concerns about China 663 00:36:41,880 --> 00:36:46,000 Speaker 1: in areas like cybersecurity, disinformation. You know, this is something 664 00:36:46,040 --> 00:36:49,160 Speaker 1: that definitely certain members of NATO have wanted to happen. 665 00:36:49,280 --> 00:36:51,640 Speaker 1: Others are a little more lenient just because of their 666 00:36:51,680 --> 00:36:55,239 Speaker 1: tight economic relationships that they have with China. But it's 667 00:36:55,239 --> 00:36:57,560 Speaker 1: gotten to the point, UM where a lot of countries 668 00:36:57,560 --> 00:37:01,200 Speaker 1: felt like they needed to do something, uh to address 669 00:37:01,239 --> 00:37:05,839 Speaker 1: just international concerns that China has raised over time. UM. 670 00:37:05,880 --> 00:37:08,719 Speaker 1: And so we're going to be seen that uh, that 671 00:37:08,840 --> 00:37:13,120 Speaker 1: particular strong language coming out today. Obviously today is the 672 00:37:13,120 --> 00:37:16,319 Speaker 1: start of this three days summit, and we're also expecting them, 673 00:37:16,360 --> 00:37:18,920 Speaker 1: in addition to China, of course, to focus on Russia 674 00:37:19,080 --> 00:37:21,960 Speaker 1: and Ukraine and as well as what needs to happen 675 00:37:22,120 --> 00:37:25,480 Speaker 1: in that particular situation. Uh, if they're going to be 676 00:37:25,520 --> 00:37:27,920 Speaker 1: able to continue to support them, how long they will 677 00:37:27,960 --> 00:37:30,720 Speaker 1: be able to continue to support Ukraine in its battle 678 00:37:31,120 --> 00:37:33,759 Speaker 1: and what that support will look like. And just the 679 00:37:33,840 --> 00:37:35,839 Speaker 1: last hour, Emily, we got word from the White House 680 00:37:35,880 --> 00:37:39,160 Speaker 1: that President Biden spoke with Turkish President Wretch of type 681 00:37:39,239 --> 00:37:42,280 Speaker 1: Urtawan as he makes his way to the NATO summit. 682 00:37:42,280 --> 00:37:46,160 Speaker 1: Of course, Turkey has been pretty strongly opposed to Sweden 683 00:37:46,280 --> 00:37:51,480 Speaker 1: and Finland joining the Alliance. Could we see more developments there? Definitely. 684 00:37:51,520 --> 00:37:53,399 Speaker 1: I think that will be something that's going to wind 685 00:37:53,480 --> 00:37:57,080 Speaker 1: up being discussed today as far as next steps. UM, 686 00:37:57,600 --> 00:38:00,560 Speaker 1: it's certainly there are many already country of NATO who 687 00:38:00,600 --> 00:38:03,359 Speaker 1: are open uh to having them be a part of 688 00:38:03,400 --> 00:38:06,120 Speaker 1: the summit. Uh. We know from the White House that 689 00:38:06,400 --> 00:38:09,840 Speaker 1: day after they're the phone call that the leaders discussed 690 00:38:10,040 --> 00:38:13,680 Speaker 1: Russia as well as Ukraine, UM as well as terrorism, 691 00:38:13,880 --> 00:38:16,760 Speaker 1: and the White House says that they will take historic 692 00:38:16,840 --> 00:38:20,680 Speaker 1: actions together when they get to NATO. UM. I definitely 693 00:38:20,680 --> 00:38:22,879 Speaker 1: think it's a it's a good point to raise that 694 00:38:22,960 --> 00:38:25,799 Speaker 1: you do have the two countries who are seeking NATO 695 00:38:25,840 --> 00:38:29,560 Speaker 1: membership that will be a part of this overall discussion, um, 696 00:38:29,680 --> 00:38:31,879 Speaker 1: and I think it will be one thing to watch 697 00:38:32,000 --> 00:38:36,160 Speaker 1: for of many today as this conference gets underway. And 698 00:38:36,400 --> 00:38:39,560 Speaker 1: let's turn to domestic politics, where, of course, the abortion 699 00:38:39,680 --> 00:38:42,760 Speaker 1: issue continues to be front and center following the Supreme 700 00:38:42,760 --> 00:38:46,080 Speaker 1: Court's decision last week. The White House is talking a 701 00:38:46,120 --> 00:38:50,400 Speaker 1: little bit about this idea from some Democrats that federal 702 00:38:50,480 --> 00:38:54,560 Speaker 1: lands be used for the procedure in states where abortion 703 00:38:54,640 --> 00:38:57,560 Speaker 1: rights are being restricted. Now, yeah, this is something that 704 00:38:57,600 --> 00:38:59,920 Speaker 1: we've heard from a number of lawmakers call for the 705 00:39:00,040 --> 00:39:02,080 Speaker 1: US to happen. It's a way just to get abortion 706 00:39:02,120 --> 00:39:05,640 Speaker 1: clinics closer to folks in red states that have banned 707 00:39:05,640 --> 00:39:08,680 Speaker 1: the practice. However, Vice President Kamala Harris at the White 708 00:39:08,719 --> 00:39:12,120 Speaker 1: House is not considering opened up abortion clinics on federal lands, 709 00:39:12,320 --> 00:39:15,560 Speaker 1: and White House officials told Bloomberg that it risks putting 710 00:39:15,600 --> 00:39:19,399 Speaker 1: women and providers in legal jeopardy in state courts if 711 00:39:19,440 --> 00:39:22,000 Speaker 1: they were to do that. But Nathan, there's a question 712 00:39:22,040 --> 00:39:24,520 Speaker 1: about what the White House needs to be doing here. 713 00:39:24,560 --> 00:39:26,959 Speaker 1: The White House knew this decision was coming, they saw 714 00:39:27,040 --> 00:39:29,560 Speaker 1: the draft leaked back in May, and there are some 715 00:39:29,600 --> 00:39:33,480 Speaker 1: concerns among progressives and even some moderates within the Democratic 716 00:39:33,520 --> 00:39:37,120 Speaker 1: Party that simply Biden is not doing enough here that 717 00:39:37,160 --> 00:39:40,440 Speaker 1: he needs to use the power of the presidency. Certainly, 718 00:39:40,480 --> 00:39:43,320 Speaker 1: you've seen Biden do a couple of things, um notably 719 00:39:43,800 --> 00:39:48,080 Speaker 1: look into the availability of making sure um that fills 720 00:39:48,120 --> 00:39:51,040 Speaker 1: that could cause abortion are available to women even in 721 00:39:51,120 --> 00:39:55,120 Speaker 1: states where abortions are currently banned. But it seems like 722 00:39:55,239 --> 00:39:59,080 Speaker 1: calls at this point to expand the Supreme Court really 723 00:39:59,120 --> 00:40:02,920 Speaker 1: are going to be gained much momentum with an institutionalist 724 00:40:02,960 --> 00:40:05,759 Speaker 1: like Biden in the White House and also folks like 725 00:40:05,840 --> 00:40:09,040 Speaker 1: Nancy Pelosi and Chuck Schumer in the Senate who just 726 00:40:09,120 --> 00:40:11,080 Speaker 1: really have not had the appetite to try to move 727 00:40:11,200 --> 00:40:14,840 Speaker 1: legislation expanding the court up to this point. What do 728 00:40:14,960 --> 00:40:18,520 Speaker 1: we know about this January sixth hearing that we just 729 00:40:18,640 --> 00:40:23,000 Speaker 1: found out yesterday is going to happen today. So we've 730 00:40:23,040 --> 00:40:26,640 Speaker 1: seen reporting from a couple of outlets, punch Bowl of Politico, 731 00:40:26,920 --> 00:40:29,560 Speaker 1: c Ann that the surprise guest today is going to 732 00:40:29,600 --> 00:40:34,680 Speaker 1: be Casey Hutchinson. She was a staffer to Mark Meadows, 733 00:40:34,719 --> 00:40:37,760 Speaker 1: who has been chief of staff uh for Donald Trump, 734 00:40:37,880 --> 00:40:40,600 Speaker 1: and she said that she has been nearly every meeting 735 00:40:40,920 --> 00:40:43,520 Speaker 1: that Trump has been in and so she's been the 736 00:40:43,520 --> 00:40:46,279 Speaker 1: source at this point for a lot of information that 737 00:40:46,320 --> 00:40:49,960 Speaker 1: has come out throughout the January six hearing. Uh. And 738 00:40:50,000 --> 00:40:52,040 Speaker 1: even before that, I mean, she was one of those 739 00:40:52,080 --> 00:40:55,080 Speaker 1: sources that documents were being the story of via being 740 00:40:55,120 --> 00:40:58,840 Speaker 1: flushed in the toilet. Um that members of Congress UM 741 00:40:58,960 --> 00:41:02,040 Speaker 1: had asked for Trump to pardon them to have their 742 00:41:02,080 --> 00:41:04,960 Speaker 1: names added to the part of the blist. The committee 743 00:41:05,000 --> 00:41:07,560 Speaker 1: wasn't just supposed to have any hearing this week. They 744 00:41:07,560 --> 00:41:11,399 Speaker 1: bumped them all back until July, and now they said 745 00:41:11,400 --> 00:41:16,040 Speaker 1: that this is needed to happen. Uh. Expectations are very high. 746 00:41:16,160 --> 00:41:19,520 Speaker 1: John Deane, Uh, of course was such a central figure 747 00:41:19,920 --> 00:41:22,640 Speaker 1: UM in the Watergate scandal, tweeted that this better be 748 00:41:22,960 --> 00:41:26,480 Speaker 1: a big deal, UM, saying that it needs to rise 749 00:41:26,640 --> 00:41:31,920 Speaker 1: to the importance of Alex Butterfield testifying that to Nixon's 750 00:41:31,960 --> 00:41:36,160 Speaker 1: secret taping system. So it's the high expectations for the 751 00:41:36,160 --> 00:41:39,200 Speaker 1: committee today. UM. Of course, a big question mark as 752 00:41:39,239 --> 00:41:43,040 Speaker 1: to what exactly we're going to be seen from this testimony. Yeah, 753 00:41:43,040 --> 00:41:45,200 Speaker 1: I know, we'll be watching for that hearing to get 754 00:41:45,280 --> 00:41:49,520 Speaker 1: underway right around one pm Wall Street time from Capitol Hill. 755 00:41:49,560 --> 00:41:52,960 Speaker 1: Bloomberg Government reporter Emily Wilkins. Thanks, as always for the 756 00:41:53,040 --> 00:41:55,200 Speaker 1: update from the nation's capital. You can read more about 757 00:41:55,200 --> 00:41:57,239 Speaker 1: all these stories on Bloomberg dot com or on the 758 00:41:57,239 --> 00:42:00,279 Speaker 1: Bloomberg terminal, and a reminder, you can follow all the 759 00:42:00,360 --> 00:42:05,480 Speaker 1: latest on Bloomberg Radio in Washington Bloomberg and one oh 760 00:42:05,480 --> 00:42:08,960 Speaker 1: five point seven FM HD two. Looking ahead to the 761 00:42:08,960 --> 00:42:11,919 Speaker 1: market open this morning, futures are on the rise. SMP 762 00:42:12,040 --> 00:42:14,640 Speaker 1: futures up twenty three point staff futures of two hundred 763 00:42:14,680 --> 00:42:18,400 Speaker 1: one NASTAC futures with a gain of sixty four points. 764 00:42:18,440 --> 00:42:21,640 Speaker 1: The tenure Treasury is down fourteen thirty seconds. The yield 765 00:42:21,680 --> 00:42:24,439 Speaker 1: three point to five percent yield on the two year 766 00:42:24,440 --> 00:42:28,880 Speaker 1: note three point one. Looking at commodities, DIMEX screwed is 767 00:42:28,960 --> 00:42:31,120 Speaker 1: up one and three quarters percent, up a dollar ninety 768 00:42:31,160 --> 00:42:33,560 Speaker 1: one to a dred eleven dollars forty nine cents. Bario 769 00:42:33,640 --> 00:42:38,719 Speaker 1: comes goal down to dollar eighteen eight. Announce Bloomberg Surveillance 770 00:42:38,760 --> 00:42:42,399 Speaker 1: is next with Tom Keene, Jonathan Faroe, and Lisa Abramowitz 771 00:42:42,560 --> 00:42:46,920 Speaker 1: for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg