1 00:00:02,000 --> 00:00:05,240 Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:05,320 --> 00:00:08,720 Speaker 1: Gay Break for Wednesday, August seventeen, twenty two. Coming up 3 00:00:08,760 --> 00:00:11,800 Speaker 1: the shower, Liz Cheney loses her House seat as two 4 00:00:11,800 --> 00:00:15,440 Speaker 1: states vote in primary elections. Traders ready for minutes from 5 00:00:15,440 --> 00:00:18,600 Speaker 1: the Fed and retail sales data. China issues a warning 6 00:00:18,640 --> 00:00:21,560 Speaker 1: to the US over Taiwan and oil dips as we 7 00:00:21,640 --> 00:00:24,400 Speaker 1: weigh the prospects ever a new to nuclear deal with Iran. 8 00:00:24,640 --> 00:00:28,120 Speaker 1: New York City schools abandoned, COVID health screenings and PCR 9 00:00:28,240 --> 00:00:31,600 Speaker 1: test Plus Rudy Julian able to testified today before grand 10 00:00:31,680 --> 00:00:35,000 Speaker 1: jury and Georgia. I'm Michael blomen More ahead, I'm John 11 00:00:35,040 --> 00:00:38,200 Speaker 1: Stage and sports. The Yankees slump, continue the Bats again 12 00:00:38,320 --> 00:00:40,480 Speaker 1: quiet the home loss to Tampa Bay, and the Mets 13 00:00:40,479 --> 00:00:45,800 Speaker 1: got shut out in Atlanta. That's all's training. Head on 14 00:00:45,880 --> 00:00:51,560 Speaker 1: Bloomberg Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington, 15 00:00:51,640 --> 00:00:55,280 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine 16 00:00:55,320 --> 00:00:59,640 Speaker 1: sixties and Francisco Syrius Exam one nineteen and around the 17 00:00:59,680 --> 00:01:02,960 Speaker 1: world down Bloomberg Radio dot Com and via the Bloomberg 18 00:01:03,040 --> 00:01:09,600 Speaker 1: Business app Good morning, I'm John Tucker and I'm Karen 19 00:01:09,680 --> 00:01:12,840 Speaker 1: Moscow and US Dock index features are lower this morning. 20 00:01:12,880 --> 00:01:14,600 Speaker 1: We are coming up to six o one on Wall Street, 21 00:01:14,600 --> 00:01:16,760 Speaker 1: and we checked the markets every fifteen minutes throughout the 22 00:01:16,800 --> 00:01:20,319 Speaker 1: trading day. On Bloomberg Guess and P futures down twenty 23 00:01:20,319 --> 00:01:22,520 Speaker 1: three points down, futures down a D twenty five and 24 00:01:22,640 --> 00:01:25,680 Speaker 1: nasdack futures down nat each two. The decks in Germany's 25 00:01:25,680 --> 00:01:28,120 Speaker 1: down seven tenths of upper cent, the ten year treasury 26 00:01:28,120 --> 00:01:31,280 Speaker 1: down eighteen thirty seconds, held two point eight six percent, 27 00:01:31,360 --> 00:01:33,320 Speaker 1: and a yield on the two year three point to 28 00:01:33,520 --> 00:01:36,440 Speaker 1: eight percent. John, We're gonna have more of the markets 29 00:01:36,440 --> 00:01:39,840 Speaker 1: in a moment, but first we begin with politics. Republican 30 00:01:39,920 --> 00:01:44,119 Speaker 1: Representative Liz Cheney has lost your primary in Wyoming, while 31 00:01:44,160 --> 00:01:48,720 Speaker 1: former Alaska Governor Sarah Palin staging political comeback, and Bloomberg 32 00:01:48,760 --> 00:01:53,279 Speaker 1: saymy Morris has details from our newsroom. In Washington, Chaney 33 00:01:53,320 --> 00:01:55,640 Speaker 1: lost to lawyer Harriet Hagerman, who had been backed by 34 00:01:55,680 --> 00:01:58,520 Speaker 1: Donald Trump. Chaney voted to impeach Trump and its co 35 00:01:58,640 --> 00:02:02,320 Speaker 1: chair of the House elect Committee investigating the January sixth insurrection. 36 00:02:02,600 --> 00:02:05,040 Speaker 1: She warned her supporters about the future of the Republican 37 00:02:05,080 --> 00:02:07,600 Speaker 1: Party and the country. If we do not condemn the 38 00:02:07,640 --> 00:02:10,919 Speaker 1: conspiracies and the lies, if we do not hold those 39 00:02:10,960 --> 00:02:15,000 Speaker 1: responsible to accounts, we will be excusing this conduct, and 40 00:02:15,040 --> 00:02:18,959 Speaker 1: it will become a feature of all elections. America will 41 00:02:19,000 --> 00:02:22,080 Speaker 1: never be the same. In Alaska, party primaries were replaced 42 00:02:22,120 --> 00:02:24,760 Speaker 1: with open primaries. The top four vote getters in each 43 00:02:24,840 --> 00:02:28,160 Speaker 1: race advances to the general election in November. Sarah Palin 44 00:02:28,240 --> 00:02:30,600 Speaker 1: was among the candidates to advance in the House race. 45 00:02:30,840 --> 00:02:34,280 Speaker 1: Senator Lisa Murkowski and challenger Kelly Shabaka earned two of 46 00:02:34,320 --> 00:02:36,520 Speaker 1: the slots in the Senate race. Results are still being 47 00:02:36,520 --> 00:02:39,960 Speaker 1: tabulated to determine the final two slots. In Washington, I'm 48 00:02:39,960 --> 00:02:42,359 Speaker 1: maybe Morris Bloomberg daybreak. All right, Amy, thank you, but 49 00:02:42,360 --> 00:02:45,400 Speaker 1: I'm sticking with politics. President Biden has signed the Inflation 50 00:02:45,480 --> 00:02:50,040 Speaker 1: Reduction Act into law. He's handling the landmark bill addressing tax, climate, 51 00:02:50,040 --> 00:02:54,280 Speaker 1: and health policy. I'm keeping my campaign commitment no one. 52 00:02:54,919 --> 00:02:58,919 Speaker 1: Let me emphasize, no one earning lesson four hundred thousand 53 00:02:59,000 --> 00:03:02,880 Speaker 1: dollars a year will pay a penny more in federal tax. 54 00:03:03,280 --> 00:03:06,799 Speaker 1: President Biden signed the law with no GOP support from 55 00:03:06,800 --> 00:03:10,520 Speaker 1: both chambers of Congress. Republican Congressman Adrian Smith and Nebraska 56 00:03:10,600 --> 00:03:13,320 Speaker 1: discussed the bill's impact on the deficit a lady yesterday 57 00:03:13,320 --> 00:03:17,440 Speaker 1: on Bloomberg Radio. It's important that the President understand we 58 00:03:17,480 --> 00:03:22,000 Speaker 1: cannot just continue without making any changes whatsoever, continue in 59 00:03:22,040 --> 00:03:24,480 Speaker 1: the direction of this spending that I think has been 60 00:03:24,639 --> 00:03:27,760 Speaker 1: very problematic. The America people expect us to get that 61 00:03:27,880 --> 00:03:31,760 Speaker 1: under control. Nebraska Republican Congressman Adrian Smith made the comments 62 00:03:31,800 --> 00:03:34,519 Speaker 1: on Bloomberg's Sound on Catch the Program weekdays at five 63 00:03:34,560 --> 00:03:37,640 Speaker 1: pm Eastern on Bloomberg Radio and the markets Now Karen, 64 00:03:37,640 --> 00:03:41,080 Speaker 1: where the SMP five hunter posted a small game. Yesterday, 65 00:03:41,240 --> 00:03:45,240 Speaker 1: earnings from Walmart and Home Depot boosted sentiment. Today, We're 66 00:03:45,240 --> 00:03:47,440 Speaker 1: gonna be watching minutes from the Federal Reserve, which will 67 00:03:47,480 --> 00:03:50,680 Speaker 1: task bets on a pivot towards slower rate highs and 68 00:03:50,800 --> 00:03:54,000 Speaker 1: let's get more, from Bloomberg's Michael McKee. After two moves 69 00:03:54,000 --> 00:03:56,520 Speaker 1: of three quarters percent, the size of the feds next 70 00:03:56,520 --> 00:03:59,960 Speaker 1: grade increases. In open question, investors may find some clue 71 00:04:00,080 --> 00:04:02,440 Speaker 1: is in the minutes of their last meeting. Those minutes 72 00:04:02,520 --> 00:04:05,240 Speaker 1: likely won't settle the question, but they could indicate what 73 00:04:05,400 --> 00:04:07,880 Speaker 1: kind of data officials would need to see to favor 74 00:04:07,920 --> 00:04:11,640 Speaker 1: another unusually large increase, with Chairman J. Powell expected to 75 00:04:11,640 --> 00:04:14,280 Speaker 1: speak of the Kansas City FEDS Jackson Whole Conference a 76 00:04:14,280 --> 00:04:18,880 Speaker 1: week from Friday. Any post minutes market move maybe short lived. 77 00:04:19,120 --> 00:04:22,000 Speaker 1: Michael McKee, Bloomberg, Gabrie, all right, Mike, thank you. All 78 00:04:22,000 --> 00:04:24,680 Speaker 1: those minutes come around two pm, all street time. But 79 00:04:24,760 --> 00:04:27,320 Speaker 1: this morning it's all about the consumer. We get data 80 00:04:27,360 --> 00:04:30,599 Speaker 1: on US retail sales for July at eight thirty. MasterCard 81 00:04:30,640 --> 00:04:34,400 Speaker 1: Advisor chief economist Michelle Meyer expects another game. The surveys 82 00:04:34,400 --> 00:04:37,920 Speaker 1: have shown that consumers are worried. They're trying to plan ahead, 83 00:04:37,920 --> 00:04:41,080 Speaker 1: They're trying to think about how to navigate this economic environment. 84 00:04:41,520 --> 00:04:45,200 Speaker 1: But in the interim, they are still outspending. Michelle Meyer 85 00:04:45,240 --> 00:04:49,080 Speaker 1: and MasterCard Advisors remains bullish on US spending. Economist predicted 86 00:04:49,160 --> 00:04:51,359 Speaker 1: gain of just one tenth of a percent for July 87 00:04:51,440 --> 00:04:54,600 Speaker 1: retail sales. Stay tuned for complete coverage and analysis of 88 00:04:54,640 --> 00:04:57,400 Speaker 1: the data coming up on Bloomberg Surveillance and when it 89 00:04:57,400 --> 00:05:01,080 Speaker 1: comes to earnings, Also about retail today, Bloomberg Jeff Ballinger 90 00:05:01,120 --> 00:05:05,760 Speaker 1: reports Target will deliver its earnings this morning. Target made 91 00:05:05,760 --> 00:05:10,040 Speaker 1: a strategic decision to rapidly liquidate much of its success inventory. 92 00:05:10,320 --> 00:05:13,040 Speaker 1: The second quarter results will indicate whether that was a 93 00:05:13,040 --> 00:05:16,480 Speaker 1: good move and whether further mark downs are needed. Bloomberg 94 00:05:16,520 --> 00:05:20,200 Speaker 1: Intelligence as Target may have continued to outpace its peers 95 00:05:20,240 --> 00:05:22,840 Speaker 1: when it comes to store traffic. The chain has sought 96 00:05:22,920 --> 00:05:26,120 Speaker 1: to be surgical and raising prices to protect the perception 97 00:05:26,160 --> 00:05:30,000 Speaker 1: of value and maintain customer loyalty. B I says that 98 00:05:30,120 --> 00:05:34,400 Speaker 1: may also have weighed on gross margin. Jeff Bullinger, Bloomberg 99 00:05:34,480 --> 00:05:36,320 Speaker 1: Day Break, All right, thanks Jeff. At a day after 100 00:05:36,400 --> 00:05:38,920 Speaker 1: Home Depot beat estimates, were expected to get earnings from 101 00:05:38,960 --> 00:05:42,679 Speaker 1: home improvement retailer Lows today and those earnings just crossing 102 00:05:42,680 --> 00:05:45,839 Speaker 1: the Bloomberg. John Lowes reporting second quarter adjusted profit that 103 00:05:46,000 --> 00:05:49,520 Speaker 1: beat analysts estimates again just crossing the Bloomberg. We turned 104 00:05:49,520 --> 00:05:52,240 Speaker 1: to commodities now. Oil continues to drop as Trader's way 105 00:05:52,320 --> 00:05:55,400 Speaker 1: the prospects of a few key geopolitical factors right now, 106 00:05:55,400 --> 00:05:58,839 Speaker 1: West Texas crewede is higher up half percent or forty 107 00:05:58,839 --> 00:06:01,600 Speaker 1: seven cents at eighty seven dollars of barrel plumbers. You 108 00:06:01,720 --> 00:06:03,440 Speaker 1: need a young joins us live at the story. We 109 00:06:03,600 --> 00:06:05,800 Speaker 1: need a good morning. Good morning, Karen w. T I 110 00:06:05,920 --> 00:06:09,680 Speaker 1: future has dropped more than three percent yesterday, closing below 111 00:06:09,680 --> 00:06:12,680 Speaker 1: eighty seven dollars of barrel. They're also lowered this morning 112 00:06:12,760 --> 00:06:16,799 Speaker 1: as talks between Iran and the European Union signal progress 113 00:06:16,839 --> 00:06:19,839 Speaker 1: toward a renewed nuclear deal that could open the door 114 00:06:19,880 --> 00:06:23,440 Speaker 1: to crude shipments from the Islamic Republic. A Wanda market 115 00:06:23,480 --> 00:06:25,960 Speaker 1: analysis says the potential for a deal creates a two 116 00:06:25,960 --> 00:06:28,560 Speaker 1: way risk for the price of oil, but the primary 117 00:06:28,640 --> 00:06:31,000 Speaker 1: driver of the current weakness is the threat of a 118 00:06:31,040 --> 00:06:35,800 Speaker 1: global recession at coronavirus lockdowns in China. Live in New York, 119 00:06:35,839 --> 00:06:38,560 Speaker 1: I'm gonna need a Young Bloomberg daybreak thanks. In the 120 00:06:38,680 --> 00:06:42,679 Speaker 1: UK today, data show inflation accelerating yet again, consumer prices 121 00:06:42,760 --> 00:06:45,840 Speaker 1: rising by double digits in July at an annual phase 122 00:06:45,880 --> 00:06:48,960 Speaker 1: of ten point one percent, and Bloomberus Leslie Burden of 123 00:06:49,040 --> 00:06:52,520 Speaker 1: London says rising food prices now adding to the squeeze 124 00:06:52,520 --> 00:06:55,680 Speaker 1: on UK consumers. Food is actually the biggest contribute to 125 00:06:55,880 --> 00:06:57,960 Speaker 1: which means that the poorest households again to be hit 126 00:06:58,000 --> 00:07:01,680 Speaker 1: the hardest, but it's also broad face recreation culture with 127 00:07:01,720 --> 00:07:04,760 Speaker 1: the next biggest contributors. And not worrying for the Bank 128 00:07:04,800 --> 00:07:06,599 Speaker 1: of England because it indicates that this is going to 129 00:07:06,680 --> 00:07:10,360 Speaker 1: last longer. Bloomberg's Lizzie Burden says traders are now ramping 130 00:07:10,440 --> 00:07:13,000 Speaker 1: up bets that the Bank of England will raise rates 131 00:07:13,040 --> 00:07:17,160 Speaker 1: by fifty basis points at their meeting in September. You're 132 00:07:17,200 --> 00:07:24,080 Speaker 1: listening to Bloomberg Daybreak, and that brings us to six 133 00:07:24,120 --> 00:07:26,960 Speaker 1: oh seven on Wall Street and time to find out 134 00:07:27,040 --> 00:07:29,040 Speaker 1: what else is going on in New York and around 135 00:07:29,040 --> 00:07:32,040 Speaker 1: the world. Good morning, Michael Barr, Good morning. John. Rudy 136 00:07:32,080 --> 00:07:35,680 Speaker 1: Giuliani is scheduled to appear today and the Atlanta Courthouse 137 00:07:36,040 --> 00:07:39,720 Speaker 1: to testify before a special grand jury and an investigation 138 00:07:40,080 --> 00:07:43,120 Speaker 1: into possible illegal attempts to influence the twenty one the 139 00:07:43,120 --> 00:07:46,400 Speaker 1: election in Georgia. The former New York mayor and attorney 140 00:07:46,440 --> 00:07:50,120 Speaker 1: for former President Donald Trump is the target of the investigation. 141 00:07:50,400 --> 00:07:54,960 Speaker 1: Any questioning will take place behind closed doors. Nonprofits and 142 00:07:55,280 --> 00:07:59,080 Speaker 1: New York City social services say they've been stretched thin 143 00:07:59,280 --> 00:08:02,640 Speaker 1: trying to account Mandy asylum seekers and migrants who often 144 00:08:02,680 --> 00:08:06,560 Speaker 1: are bussed in unannounced and in unknown numbers from Texas 145 00:08:06,640 --> 00:08:10,960 Speaker 1: and Arizona. Catholic Charities executives say they're working with families 146 00:08:10,960 --> 00:08:15,520 Speaker 1: to provide essentials and more Cardinal Timothy Dolan at Dawns 147 00:08:15,520 --> 00:08:19,400 Speaker 1: and me. These just aren't cases. These just aren't uh, 148 00:08:19,480 --> 00:08:24,480 Speaker 1: these just aren't problems. These just aren't statistics. These are 149 00:08:24,480 --> 00:08:29,080 Speaker 1: not just refugees and asylum seekers in the plural. These 150 00:08:29,120 --> 00:08:33,440 Speaker 1: are people with names, Cardinal Dolan as New York City 151 00:08:33,480 --> 00:08:37,239 Speaker 1: officials estimate around twenty eight hundred migrants have been transported 152 00:08:37,240 --> 00:08:40,360 Speaker 1: recently into the city from border towns. The New York 153 00:08:40,480 --> 00:08:44,079 Speaker 1: City Department of Education is relaxing COVID nineteen protocols for 154 00:08:44,160 --> 00:08:46,880 Speaker 1: students and staff ahead of the start of the new 155 00:08:47,000 --> 00:08:50,240 Speaker 1: school year. According to the guidelines, the district will no 156 00:08:50,320 --> 00:08:54,839 Speaker 1: longer require daily health screenings to enter school buildings, nor 157 00:08:55,000 --> 00:08:59,720 Speaker 1: will it conduct in school PCR surveillance testing. Iranian officials 158 00:08:59,800 --> 00:09:02,280 Speaker 1: have confirmed that they have submitted a written response to 159 00:09:02,360 --> 00:09:06,319 Speaker 1: the latest EU draft to revive the nuclear deal, Bloomberg said. 160 00:09:06,320 --> 00:09:09,920 Speaker 1: Baxter reports the US is watching closely. Bloomberg sources are 161 00:09:09,960 --> 00:09:12,480 Speaker 1: saying that it may ask for a couple of adjustments 162 00:09:12,480 --> 00:09:15,520 Speaker 1: in the pact, to which the US State Department spokesman 163 00:09:15,559 --> 00:09:19,160 Speaker 1: that Price says, there is a red line. We are committed. 164 00:09:19,240 --> 00:09:22,880 Speaker 1: President Biden has made a solemn commitment that Iran will 165 00:09:22,960 --> 00:09:26,120 Speaker 1: never obtain a nuclear weapon that in its own right 166 00:09:26,800 --> 00:09:32,080 Speaker 1: is something that UM redounds to our national security, but 167 00:09:32,160 --> 00:09:34,760 Speaker 1: price as the US will go through the response with 168 00:09:34,840 --> 00:09:38,320 Speaker 1: hopes of a deal in San Francisco. I'm at Baxter, 169 00:09:38,360 --> 00:09:41,280 Speaker 1: Bloomberg Day Bright opening statements are scheduled to begin today 170 00:09:41,280 --> 00:09:44,440 Speaker 1: and the latest federal trial for singer R. Kelly and Chicago. 171 00:09:44,640 --> 00:09:48,120 Speaker 1: He is accused of enticing miners for sex, producing child porn, 172 00:09:48,559 --> 00:09:51,480 Speaker 1: and fixing his two thousand eight state child porn trial 173 00:09:51,559 --> 00:09:54,320 Speaker 1: at which he was acquitted. Global tams twenty four hours 174 00:09:54,320 --> 00:09:57,080 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 175 00:09:57,080 --> 00:10:00,280 Speaker 1: more than seven hundred journalists and analysts more than trees. 176 00:10:00,440 --> 00:10:02,880 Speaker 1: I'm Michael Barr. This is Bloomberg, John, Michael, thank you, 177 00:10:07,600 --> 00:10:10,000 Speaker 1: and that brings us to six ten off Wall Street 178 00:10:10,040 --> 00:10:13,840 Speaker 1: time down for the Bloomberg Sports Update. Here's thanks, John. 179 00:10:13,880 --> 00:10:15,840 Speaker 1: Test start to the week for New York baseball. The 180 00:10:15,920 --> 00:10:18,120 Speaker 1: night after the Yankees and Mets lost games by combined 181 00:10:18,240 --> 00:10:20,600 Speaker 1: seven team to one, they lost by a combined eight 182 00:10:20,679 --> 00:10:23,560 Speaker 1: to one, and for the Yankees, the tailspin continues. Eleven 183 00:10:23,600 --> 00:10:26,360 Speaker 1: losses in the last thirteen games. Going further back, just 184 00:10:26,480 --> 00:10:29,559 Speaker 1: eleven wins in thirty three games, are short of losing 185 00:10:29,559 --> 00:10:32,960 Speaker 1: a fifth consecutive series. Aaron Boone's team beat by Tampa 186 00:10:33,000 --> 00:10:35,640 Speaker 1: Bay three to one. You can't let the frustration get 187 00:10:35,720 --> 00:10:40,560 Speaker 1: in your way of of you know, preparing and you know, 188 00:10:41,400 --> 00:10:43,000 Speaker 1: getting ready to go every night. You know, we've got 189 00:10:43,040 --> 00:10:45,760 Speaker 1: a few guys that are in a rut. We gotta 190 00:10:45,960 --> 00:10:48,839 Speaker 1: we gotta prepare and get ready and fight our way 191 00:10:48,840 --> 00:10:51,800 Speaker 1: out of it. You know, it's part of it. And uh, 192 00:10:52,120 --> 00:10:53,720 Speaker 1: you know it's no fun when you're going through it. 193 00:10:53,840 --> 00:10:56,360 Speaker 1: But that's where we are right now. Have scored just 194 00:10:56,400 --> 00:10:58,439 Speaker 1: one run over the last three games on the Mets 195 00:10:58,440 --> 00:11:01,320 Speaker 1: and two games in Atlanta only one run, shutout by 196 00:11:01,400 --> 00:11:03,839 Speaker 1: Charlie Morton and the Braves five to nothing, Atlanta's eighth 197 00:11:03,840 --> 00:11:06,000 Speaker 1: win in a row since losing four or five to 198 00:11:06,040 --> 00:11:08,199 Speaker 1: the Mets at City Field. That Met Division lead over 199 00:11:08,200 --> 00:11:10,120 Speaker 1: the Braises down to three and a half. The good 200 00:11:10,160 --> 00:11:12,760 Speaker 1: news of the Mets Max Schers at pitches tonight, Jacob 201 00:11:12,760 --> 00:11:15,600 Speaker 1: to Graham tomorrow. Good news for the Jet Zach Wilson's 202 00:11:15,640 --> 00:11:18,560 Speaker 1: knee surgery went well, No additional damage was found. It's 203 00:11:18,559 --> 00:11:21,520 Speaker 1: still likely that Wilson will miss the season opener, which 204 00:11:21,520 --> 00:11:23,800 Speaker 1: would meet veteran Joe Flacco would face his old team 205 00:11:23,800 --> 00:11:26,920 Speaker 1: of Baltimore Ravens and the Giants preseason opener. They're veteran 206 00:11:26,920 --> 00:11:31,000 Speaker 1: backup few beat Tyrod Taylor look good. Coach Brian Dabele said, Taylor, 207 00:11:31,120 --> 00:11:34,239 Speaker 1: we'll get some reps with the first team. He downplayed 208 00:11:34,520 --> 00:11:37,320 Speaker 1: any significance to that. He insisted Daniel Jones as the starter. 209 00:11:37,720 --> 00:11:40,520 Speaker 1: The Athletic reports trade tops are again heating up between 210 00:11:40,520 --> 00:11:42,600 Speaker 1: the Nicks and Utah Jazz for a deal that would 211 00:11:42,640 --> 00:11:45,440 Speaker 1: bring all star Donovan Mitchell to New York. John stash 212 00:11:45,480 --> 00:11:47,960 Speaker 1: Award Bloomberg Sports. John John thanks a lot of hit 213 00:11:48,000 --> 00:11:50,080 Speaker 1: of the camp show called Wall Street Futures right now 214 00:11:50,160 --> 00:11:53,280 Speaker 1: in the red, the down futures down one hundred thirty 215 00:11:53,320 --> 00:11:55,880 Speaker 1: four points, that's the declined about four tensi or per 216 00:11:55,920 --> 00:12:00,040 Speaker 1: cent SMP IMMNI futures twenty five points slower, and the 217 00:12:00,120 --> 00:12:04,880 Speaker 1: Nastic futures are down nine points. This is Bloomberg day 218 00:12:04,880 --> 00:12:11,600 Speaker 1: Break and just ahead on Bloomberg, UK inflation hits double 219 00:12:11,679 --> 00:12:14,839 Speaker 1: digits for the first time in forty years. We'll break 220 00:12:14,840 --> 00:12:19,080 Speaker 1: it down with Marcus Afsworth the Bloomberg Opinion Columness for 221 00:12:19,080 --> 00:12:25,000 Speaker 1: the UK markets headlines and breaking news twenty four hours 222 00:12:25,000 --> 00:12:28,000 Speaker 1: a day at Bloomberg dot com, the Bloomberg Business Out 223 00:12:28,080 --> 00:12:38,319 Speaker 1: and at Bloomberg Quicktape's a Bloomberg Business Flash. And I'm 224 00:12:38,360 --> 00:12:41,160 Speaker 1: Karen Mostown watching shares the loads this morning. They're on 225 00:12:41,200 --> 00:12:43,960 Speaker 1: the rise there, up more than three at early trading. 226 00:12:43,960 --> 00:12:46,960 Speaker 1: The homemt proom in retailer reported second quarter profit that 227 00:12:47,120 --> 00:12:50,840 Speaker 1: beat analysts estimates. Still comps sales in the quarter missed. 228 00:12:51,160 --> 00:12:54,080 Speaker 1: Futures this morning are lower as concerns over the Federal 229 00:12:54,080 --> 00:12:57,680 Speaker 1: Reserve's aggressive rate high path outweighs robust corporate earnings and 230 00:12:57,760 --> 00:13:00,400 Speaker 1: Shina's stimulus plants, and we check them mark. It's every 231 00:13:00,440 --> 00:13:03,520 Speaker 1: fifteen minutes throughout the trading day on Bloomberg. Right now, 232 00:13:03,640 --> 00:13:06,120 Speaker 1: S and P futures are done about twenty five points 233 00:13:06,120 --> 00:13:09,400 Speaker 1: and DOWN futures are down one thirty two and NASDEG 234 00:13:09,480 --> 00:13:13,520 Speaker 1: futures down a hundred. The tenure Treasury is down seventeen 235 00:13:13,559 --> 00:13:16,319 Speaker 1: thirty seconds, held two point eight six percent. They yield 236 00:13:16,360 --> 00:13:19,640 Speaker 1: on the two year three point to nine percent. NIMEX 237 00:13:19,640 --> 00:13:22,360 Speaker 1: screwed oil is up more than one percent. It's up 238 00:13:22,400 --> 00:13:24,880 Speaker 1: ninety two cents at eighty seven dollars forty five cents 239 00:13:24,880 --> 00:13:27,480 Speaker 1: of barrel comes. Gold is down about a tenth of 240 00:13:27,480 --> 00:13:29,880 Speaker 1: a percent on a dollar thirty as seventeen eighty eight 241 00:13:29,960 --> 00:13:34,719 Speaker 1: forty announced. The euro is at one point o one 242 00:13:34,840 --> 00:13:37,280 Speaker 1: seven seven against the dollar, British found one point two 243 00:13:37,360 --> 00:13:39,679 Speaker 1: zero nine nine, and the en mon thirty four point 244 00:13:39,760 --> 00:13:41,880 Speaker 1: h u and looking at it bitcoin, it's down about 245 00:13:41,920 --> 00:13:45,319 Speaker 1: one percent at twenty three thousand, seven hundred fifty dollars. 246 00:13:45,520 --> 00:13:48,120 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with 247 00:13:48,200 --> 00:13:51,120 Speaker 1: more on what's going on around the world. Michael Karen, 248 00:13:51,120 --> 00:13:54,400 Speaker 1: thank you very much. Wyoming Representative List Cheney, donald Trump's 249 00:13:54,400 --> 00:13:57,880 Speaker 1: fierce is a Republican adversary in Congress, has been defeated 250 00:13:58,240 --> 00:14:01,640 Speaker 1: in a GOP primary. She fell tuesday to Harry and 251 00:14:01,720 --> 00:14:06,000 Speaker 1: Hagaman arrival, backed by the former president, sixty six percent 252 00:14:06,080 --> 00:14:10,679 Speaker 1: to twe President Joe Biden signed a sweeping tax, climate, 253 00:14:10,720 --> 00:14:14,000 Speaker 1: and healthcare measure into law. The measure, known as the 254 00:14:14,040 --> 00:14:18,080 Speaker 1: Inflation Reduction Act, would also cap and lower the price 255 00:14:18,120 --> 00:14:22,000 Speaker 1: in medicines for seniors. In baseball, the Yankees and Mets lost, 256 00:14:22,240 --> 00:14:25,720 Speaker 1: the Red Sox and Orioles won, The Nationals lost, the 257 00:14:25,800 --> 00:14:29,960 Speaker 1: A's and Giants won. Global News twenty four hours a 258 00:14:30,040 --> 00:14:33,160 Speaker 1: day on here and on Bloomberg Quick Take, powered by 259 00:14:33,200 --> 00:14:36,240 Speaker 1: more than twenty seven hundred journalists analysts in more than 260 00:14:36,240 --> 00:14:39,800 Speaker 1: a hundred twenty countries. How Michael bar this is Bloomberg, Michael, 261 00:14:39,800 --> 00:14:42,200 Speaker 1: thank you, six twenty out Wall Street. We are lying 262 00:14:42,240 --> 00:14:45,640 Speaker 1: for the Bloomberg Interact, a broker's studios. This is Bloomberg 263 00:14:45,720 --> 00:14:50,160 Speaker 1: day Break. Inflation in the UK accelerated more than expended 264 00:14:50,240 --> 00:14:52,920 Speaker 1: last month to the highest and forty years. Let's take 265 00:14:52,960 --> 00:14:56,000 Speaker 1: a deeper dive this morning, joining us, I'm happy to say, 266 00:14:56,000 --> 00:15:00,160 Speaker 1: Bloomberg opinion columnist Marcus Ashworth. And before we die even 267 00:15:00,160 --> 00:15:03,720 Speaker 1: into the data, the policy implications, what's the impact of 268 00:15:03,720 --> 00:15:06,760 Speaker 1: all this on just the the average Joe there in 269 00:15:06,760 --> 00:15:11,400 Speaker 1: the UK. Well, the average show is is waking up 270 00:15:11,440 --> 00:15:14,920 Speaker 1: a bit to the realization we've got double dishc inflation. Um. 271 00:15:15,200 --> 00:15:18,040 Speaker 1: I think it's shocked funny after sterling money markets and 272 00:15:18,080 --> 00:15:22,680 Speaker 1: the bond markets more than perhaps the mount on the street. Actually, um, 273 00:15:22,800 --> 00:15:24,880 Speaker 1: everyone got a bit complacent. We've seen a better than 274 00:15:24,920 --> 00:15:28,440 Speaker 1: expected US inflation last week and sort of thought somehow 275 00:15:28,520 --> 00:15:30,600 Speaker 1: the same would have happened over here. It made you, 276 00:15:30,600 --> 00:15:33,360 Speaker 1: in fact, next month it's certainly go to because finally 277 00:15:33,440 --> 00:15:36,760 Speaker 1: we've got petrol or gasting prices falling a long last, 278 00:15:37,440 --> 00:15:40,040 Speaker 1: but it wasn't where did July and all of food 279 00:15:40,040 --> 00:15:44,200 Speaker 1: prices and we've got a worse than expected number and 280 00:15:44,240 --> 00:15:47,800 Speaker 1: it's completely taken markets by surprise, and I think everyone's 281 00:15:47,800 --> 00:15:50,600 Speaker 1: now expecting instead of twenty five basis points for the 282 00:15:50,640 --> 00:15:53,120 Speaker 1: Bank of England said to have a ten for the 283 00:15:53,160 --> 00:15:56,440 Speaker 1: meetnext but it will be fifty basis points. So we're 284 00:15:56,480 --> 00:15:58,040 Speaker 1: gonna have to catch up a bit with you guys 285 00:15:58,120 --> 00:16:00,360 Speaker 1: the fence. You know, it started four months up later 286 00:16:00,360 --> 00:16:03,080 Speaker 1: in the Bank of England, but you've accelerated, Pastors, and 287 00:16:03,080 --> 00:16:05,680 Speaker 1: we're we're living as an in your wake. Okay, So 288 00:16:05,960 --> 00:16:10,400 Speaker 1: rate differentials really do matter, especially with foreign exchange. So 289 00:16:11,000 --> 00:16:14,000 Speaker 1: what's the impact on sterling? Where does that go and 290 00:16:14,400 --> 00:16:17,560 Speaker 1: how does that complicated things. It's not really Sterling that's 291 00:16:17,600 --> 00:16:20,920 Speaker 1: moved because it just you know, it's being kept up 292 00:16:20,960 --> 00:16:25,160 Speaker 1: just about by expectations are slightly higher rate hike. Sterling 293 00:16:25,240 --> 00:16:27,920 Speaker 1: is still just wafting around in the wake of what 294 00:16:28,040 --> 00:16:30,040 Speaker 1: King Dollar wants to do. A bit like the euro 295 00:16:30,280 --> 00:16:32,360 Speaker 1: is that it's all about the dollar in FX terms. 296 00:16:32,640 --> 00:16:34,920 Speaker 1: The stock market isn't that fast, Dieter big. But the 297 00:16:34,960 --> 00:16:38,840 Speaker 1: point is is that money markets got this wrong, badly wrong, 298 00:16:39,520 --> 00:16:43,000 Speaker 1: and had been expecting, for some reason, a much better number. 299 00:16:43,520 --> 00:16:46,360 Speaker 1: Uh in fact, expecting it to beat expectations, because it 300 00:16:46,400 --> 00:16:49,720 Speaker 1: was much worse expectations by an extra three tents. And 301 00:16:49,760 --> 00:16:51,920 Speaker 1: that's called everyone out today. So it's a it's a 302 00:16:52,040 --> 00:16:55,520 Speaker 1: violent market in a short end money market rates for 303 00:16:55,520 --> 00:17:00,840 Speaker 1: sure in Okay today. Does this underscore policy errors or one? 304 00:17:00,920 --> 00:17:04,320 Speaker 1: I mean, what's what's behind it? Yeah, it's policy is 305 00:17:04,480 --> 00:17:07,520 Speaker 1: Actually for one time, I'm probably the bank having recently 306 00:17:08,680 --> 00:17:10,439 Speaker 1: I've been right to call this out. I think the 307 00:17:10,480 --> 00:17:13,639 Speaker 1: market hasn't taken them as seriously. Perhaps it might have 308 00:17:13,680 --> 00:17:15,840 Speaker 1: been because the bank aving struct record has been so 309 00:17:15,920 --> 00:17:18,679 Speaker 1: poor this time around, the Bank having and we're right 310 00:17:18,720 --> 00:17:23,440 Speaker 1: to forecasts more aggressively perhaps than other people. Their forecast 311 00:17:23,520 --> 00:17:27,040 Speaker 1: was also wrong, but less wrong than perhaps the markets was. 312 00:17:27,440 --> 00:17:30,119 Speaker 1: Um So, yeah, well everyone's a bit of said this 313 00:17:30,280 --> 00:17:32,960 Speaker 1: array here. I mean it's it's I said it's it's 314 00:17:32,960 --> 00:17:36,800 Speaker 1: going to be bad for in October, much worse in October. 315 00:17:36,840 --> 00:17:39,200 Speaker 1: We think it's gonna go up to over because we 316 00:17:39,280 --> 00:17:42,080 Speaker 1: have this energy price cap lifting. Um So we might 317 00:17:42,119 --> 00:17:44,800 Speaker 1: get a couple of better numbers next in August and September, 318 00:17:44,800 --> 00:17:46,960 Speaker 1: but we know for sure it's gonna get worse again 319 00:17:46,960 --> 00:17:53,800 Speaker 1: in October. But market said policy isn't going to address that, right, Well, 320 00:17:54,080 --> 00:17:55,720 Speaker 1: I thought, what else can they do. They've left it 321 00:17:55,720 --> 00:17:57,840 Speaker 1: too late, and they're gonna have to do something. They're 322 00:17:57,840 --> 00:17:59,960 Speaker 1: gonna have to get rates up there at one point 323 00:18:00,040 --> 00:18:02,080 Speaker 1: seven five percent, they're going to get them up to 324 00:18:02,080 --> 00:18:05,159 Speaker 1: two and a quarter, probably two and three quarters by 325 00:18:05,200 --> 00:18:06,840 Speaker 1: the end of the year at least, and then by 326 00:18:06,880 --> 00:18:09,480 Speaker 1: that stage, as I said, the fourth quarter going into 327 00:18:09,520 --> 00:18:11,879 Speaker 1: the next one next year, the banging is predicting a 328 00:18:11,960 --> 00:18:16,040 Speaker 1: recession or start of recession, and that's um at the moment. 329 00:18:16,080 --> 00:18:19,000 Speaker 1: We're already bumbling around around zero growth anyway, so you 330 00:18:19,000 --> 00:18:21,639 Speaker 1: know it's going to push the market uh into the 331 00:18:21,680 --> 00:18:24,679 Speaker 1: economy into recession. And yeah, they'll have to they'll have 332 00:18:24,720 --> 00:18:26,439 Speaker 1: to be careful how much they start hiking into st 333 00:18:26,480 --> 00:18:29,040 Speaker 1: rates then, so better get it done now. But it's 334 00:18:29,200 --> 00:18:32,080 Speaker 1: not a great UH forecast, is it to keep on 335 00:18:32,160 --> 00:18:33,959 Speaker 1: hiking to try and get rid of inflation, but at 336 00:18:33,960 --> 00:18:37,520 Speaker 1: the same time pushing economy into into decline. Yeah, you've 337 00:18:37,520 --> 00:18:42,040 Speaker 1: got where's you say recession looming, possibly double digit and 338 00:18:42,200 --> 00:18:46,680 Speaker 1: what's the next locust. No, we had locus. We we've 339 00:18:46,680 --> 00:18:50,720 Speaker 1: had a drought as a lot of Europe has um. Yeah, 340 00:18:50,840 --> 00:18:53,000 Speaker 1: it's it's that the travel is is that the UK 341 00:18:53,200 --> 00:18:56,119 Speaker 1: is no different position really than the US or Europe 342 00:18:56,160 --> 00:18:59,960 Speaker 1: in certain ways. It's got slightly better economy perhaps fundament 343 00:19:00,000 --> 00:19:03,040 Speaker 1: clean in Europe. But inflation is certainly pretty perky here. 344 00:19:03,640 --> 00:19:06,840 Speaker 1: But we've got great balance sheets in corporate and households 345 00:19:06,880 --> 00:19:09,680 Speaker 1: and and the banks. That's the savings, that's the good news. 346 00:19:09,720 --> 00:19:12,959 Speaker 1: But the point is we were tightening fiscal policy up 347 00:19:13,000 --> 00:19:15,000 Speaker 1: to very recently. We're having this battle for to become 348 00:19:15,000 --> 00:19:17,480 Speaker 1: the next prime minister. Almost certainly we're going to get 349 00:19:17,480 --> 00:19:20,640 Speaker 1: a fiscal spend, a spurge, but it's probably will be 350 00:19:20,800 --> 00:19:25,040 Speaker 1: not enough and certainly too late. Always a pleasure appreciative 351 00:19:25,119 --> 00:19:28,000 Speaker 1: mark will end on a positive note there, Bloomberg Opinion. 352 00:19:28,040 --> 00:19:32,840 Speaker 1: Gollumnus Marcus Ashworth and ahead of the cash open on 353 00:19:33,000 --> 00:19:35,399 Speaker 1: Wall Street, and well, let me give you a pound 354 00:19:35,440 --> 00:19:42,919 Speaker 1: quill right here at one, right now, so that's relatively unchanged. 355 00:19:42,960 --> 00:19:46,119 Speaker 1: That's that's cable compared to the dollar down future is 356 00:19:46,240 --> 00:19:50,200 Speaker 1: right now one hundred fifty point slower. SMP evening futures 357 00:19:50,520 --> 00:19:53,320 Speaker 1: they're down twenty seven points right now, and the Nasdaq 358 00:19:53,400 --> 00:19:58,040 Speaker 1: futures one hundred eight points lower. And you're listening the 359 00:19:58,200 --> 00:20:08,000 Speaker 1: Bloomberg day Break and the Bloomberg Weather for it today 360 00:20:08,040 --> 00:20:10,879 Speaker 1: partial sun, developing, chance of an isolated shower this morning 361 00:20:11,960 --> 00:20:15,560 Speaker 1: to night clear a loose sixty seven to Mars outlet 362 00:20:15,680 --> 00:20:19,520 Speaker 1: partly mostly Sundays. You're topping out in the mid eighties, 363 00:20:22,160 --> 00:20:26,720 Speaker 1: broadcasting y from the Bloomberg Interactive Broker Studio in New York, 364 00:20:26,840 --> 00:20:30,280 Speaker 1: Bloomberg E loving freon to Washington, d C, Bloomberg ninety 365 00:20:30,600 --> 00:20:34,119 Speaker 1: one to Boston, Bloomberg one O six one to San Francisco, 366 00:20:34,200 --> 00:20:37,920 Speaker 1: Bloomberg sixty to the country Sirius XM Chado one nine 367 00:20:37,920 --> 00:20:41,440 Speaker 1: t and around the globe the Bloomberg Business and Bloomberg 368 00:20:41,520 --> 00:20:50,920 Speaker 1: Radio dot Com. This is Bloomberg Daybreak. It's six thirty 369 00:20:50,960 --> 00:20:53,359 Speaker 1: on Wall Street. Good morning. I'm John Tucker and I'm 370 00:20:53,440 --> 00:20:56,080 Speaker 1: Karen Moscow. We are just about three hours away from 371 00:20:56,119 --> 00:20:58,040 Speaker 1: the open of US trading. It's time for the five 372 00:20:58,080 --> 00:21:00,320 Speaker 1: things that you need to notice start your day, wrote 373 00:21:00,400 --> 00:21:04,919 Speaker 1: you by Interactive Brokers. Interactive Brokers Global Analysts helps you 374 00:21:04,960 --> 00:21:08,679 Speaker 1: find a global investment opportunities to diversify your portfolio and 375 00:21:08,760 --> 00:21:12,360 Speaker 1: discover undervalued companies that may have greater growth potential. Try 376 00:21:12,359 --> 00:21:14,840 Speaker 1: i v k our Global Analysts today at ibk R 377 00:21:14,960 --> 00:21:19,320 Speaker 1: dot com. Slash g A first Republican representative, as Cheney 378 00:21:19,400 --> 00:21:22,919 Speaker 1: lost her primary in Wyoming to Harriet Hageman, who was 379 00:21:22,960 --> 00:21:26,399 Speaker 1: backed by former President Trump. Cheney says Trump still fanning 380 00:21:26,400 --> 00:21:30,159 Speaker 1: the flames of violence. Our nation is barreling once again 381 00:21:30,200 --> 00:21:34,399 Speaker 1: towards crisis, lawlessness, and violence. Let's Chaney, who co chairs 382 00:21:34,400 --> 00:21:37,359 Speaker 1: the House of January six committee, warned stolen election of 383 00:21:37,440 --> 00:21:40,760 Speaker 1: rhetoric could become normalized if former President Trump is not 384 00:21:40,880 --> 00:21:44,359 Speaker 1: held accountable. In Alaska, the former governor Sarah pale in 385 00:21:44,400 --> 00:21:46,800 Speaker 1: advance to the general election of November for the state's 386 00:21:46,880 --> 00:21:50,560 Speaker 1: open house seat, and Alanska Senator Lisa Murkowski and Trump 387 00:21:50,560 --> 00:21:54,280 Speaker 1: Act challenger Kelly Shabaka earned two of the slots in 388 00:21:54,320 --> 00:21:56,800 Speaker 1: the Senate race, with the results still being tabulated to 389 00:21:56,880 --> 00:22:00,920 Speaker 1: determine the final two slots. Marcus john where the SNP 390 00:22:01,040 --> 00:22:04,040 Speaker 1: five hardard posted a small game yesterday. Today Market shill 391 00:22:04,080 --> 00:22:06,000 Speaker 1: watch minutes from the Fed do out at around two 392 00:22:06,040 --> 00:22:08,640 Speaker 1: pm All Street time and July retail sales data which 393 00:22:08,680 --> 00:22:10,760 Speaker 1: is out at eight thirty, and markets also going to 394 00:22:10,840 --> 00:22:14,080 Speaker 1: react at earnings today from lows and target lows are 395 00:22:14,160 --> 00:22:17,480 Speaker 1: just reporting results adjusted earnings per share for the second quarter, 396 00:22:18,000 --> 00:22:21,960 Speaker 1: beating the average analyst estimate. The commodities now, John Oil's 397 00:22:21,960 --> 00:22:24,840 Speaker 1: slide continues as traders way the prospects of a few 398 00:22:24,920 --> 00:22:28,800 Speaker 1: key geo political factors. Right now, West Texas crewed is higher, 399 00:22:28,880 --> 00:22:31,040 Speaker 1: up seven tenths per cent or sixty cents at eighty 400 00:22:31,080 --> 00:22:33,840 Speaker 1: seven dollars fourteen cents a barrel, and bloombars We need 401 00:22:33,920 --> 00:22:36,399 Speaker 1: young joins us live with that story readied a good morning, 402 00:22:36,480 --> 00:22:39,040 Speaker 1: Good morning Kareen w t I Future has dropped more 403 00:22:39,040 --> 00:22:43,199 Speaker 1: than three percent yesterday, closing below eighty seven dollars of barrel, 404 00:22:43,440 --> 00:22:46,520 Speaker 1: and talks between the Iran and the European Union signal 405 00:22:46,600 --> 00:22:50,080 Speaker 1: progress toward a renewed nuclear deal that could open the 406 00:22:50,080 --> 00:22:53,359 Speaker 1: door to crude shipments from the Islamic Republic. A Wanda 407 00:22:53,440 --> 00:22:56,119 Speaker 1: market analysis says the potential for a deal creates a 408 00:22:56,160 --> 00:22:58,240 Speaker 1: two way risk for the price of oil, but the 409 00:22:58,280 --> 00:23:01,119 Speaker 1: primary driver of the current week this is the threat 410 00:23:01,160 --> 00:23:05,240 Speaker 1: of a global recession. At coronavirus lockdowns in China, live 411 00:23:05,280 --> 00:23:08,040 Speaker 1: in New York. I'm Nita Young Bloomberg Day Break, all right, 412 00:23:08,080 --> 00:23:10,800 Speaker 1: Rendy to thank you, and we are watching shares of 413 00:23:10,920 --> 00:23:15,960 Speaker 1: Target AD just reported earning second quarter profit, missing analysts estimates, 414 00:23:16,000 --> 00:23:18,760 Speaker 1: coming in at thirty nine cents a share analysts who 415 00:23:18,760 --> 00:23:22,560 Speaker 1: are looking for seventy two cents, and shares falling down 416 00:23:22,600 --> 00:23:26,359 Speaker 1: about four percent in early trading. Right now. Comp sales 417 00:23:26,680 --> 00:23:30,280 Speaker 1: looks like they also missed analysts estimates as well. Straight, 418 00:23:30,280 --> 00:23:33,200 Speaker 1: I had your latest local headlines, plus a check of sports, 419 00:23:33,320 --> 00:23:41,080 Speaker 1: and this is Bloomberg. Thanks six three on All Street. 420 00:23:41,119 --> 00:23:43,040 Speaker 1: Time to bring in Michael Barne. Now I'll tell us 421 00:23:43,160 --> 00:23:45,200 Speaker 1: what else is going on in New York ended around 422 00:23:45,200 --> 00:23:48,159 Speaker 1: the world, John, thank you very much. Rudy Giuliani, former 423 00:23:48,200 --> 00:23:51,760 Speaker 1: President Trump's personal attorney, is scheduled to testified today and 424 00:23:51,800 --> 00:23:55,400 Speaker 1: the possible criminal activity surrounding those who tried to overturn 425 00:23:55,440 --> 00:23:59,520 Speaker 1: the twenty Georgia election results. The former New York mayor 426 00:23:59,680 --> 00:24:03,160 Speaker 1: is now all the target of an investigation my Georgia prosecutors. 427 00:24:03,560 --> 00:24:07,440 Speaker 1: Juliani has pushed back on the investigation and has claimed 428 00:24:07,520 --> 00:24:10,560 Speaker 1: without evidence that Atlanta is a city known for corruption, 429 00:24:11,200 --> 00:24:14,840 Speaker 1: with New York City officials estimating around twenty hundred asylum 430 00:24:14,880 --> 00:24:17,920 Speaker 1: seekers and migrants have been bust into the city from 431 00:24:17,960 --> 00:24:23,080 Speaker 1: border towns along Texas and Arizona. Nonprofits and city social 432 00:24:23,240 --> 00:24:27,160 Speaker 1: services say they've been stretched then trying to accommodate the newcomers. 433 00:24:27,640 --> 00:24:30,080 Speaker 1: Catholic charities say they are working with the families to 434 00:24:30,119 --> 00:24:34,359 Speaker 1: provide services like scholarships for local schools for families, gift 435 00:24:34,359 --> 00:24:39,480 Speaker 1: cards for food and other essentials, and more. Cardinal Timothy Dolan. 436 00:24:39,840 --> 00:24:43,720 Speaker 1: Our perspective is not the political. Our perspective is not 437 00:24:44,000 --> 00:24:47,560 Speaker 1: how did we get in this mess. Our perspective uh 438 00:24:47,720 --> 00:24:50,120 Speaker 1: is simply to help them, to reach out to them, 439 00:24:50,320 --> 00:24:54,480 Speaker 1: Cardinal Timothy Dolan. Donald Trump's lawyer asked a federal appeals 440 00:24:54,520 --> 00:24:58,440 Speaker 1: court to block New York's investigation into potentially fraudulent asset 441 00:24:58,560 --> 00:25:02,879 Speaker 1: valuations at his real estate company. Trump's attorney says the 442 00:25:02,920 --> 00:25:06,200 Speaker 1: investigation by New York Attorney General Letitia James is a 443 00:25:06,320 --> 00:25:10,239 Speaker 1: rashing and overreaching Iranian officials confirmed this week that they 444 00:25:10,240 --> 00:25:13,360 Speaker 1: have submitted their written response to the latest EU draft 445 00:25:13,680 --> 00:25:17,879 Speaker 1: to revive the nuclear accord. State Department spokesman Dead Price. 446 00:25:18,160 --> 00:25:21,480 Speaker 1: We are committed President Biden has made a solemn commitment 447 00:25:21,920 --> 00:25:25,359 Speaker 1: that Iran will never obtain a nuclear weapon that, in 448 00:25:25,440 --> 00:25:30,200 Speaker 1: its own right is something that um redounds to our 449 00:25:30,920 --> 00:25:34,800 Speaker 1: national security. State Department spokesman Ned Price. The Saudi Back 450 00:25:34,920 --> 00:25:37,600 Speaker 1: Live Golf League would be banned from New Jersey clubs 451 00:25:37,640 --> 00:25:41,280 Speaker 1: under a bill introduced by two Democratic state Senators Andrew's 452 00:25:41,320 --> 00:25:46,200 Speaker 1: Wicker and Richard Cody. Live tournament at Donald Trump's Bedminster 453 00:25:46,280 --> 00:25:49,680 Speaker 1: golf Club last month drew protests from survivors and families 454 00:25:49,880 --> 00:25:52,639 Speaker 1: of nine eleven victims. The New York City Department of 455 00:25:52,720 --> 00:25:56,240 Speaker 1: Education is relaxing COVID nineteen protocols for students and staff 456 00:25:56,280 --> 00:25:59,080 Speaker 1: ahead of the start of the new school year. According 457 00:25:59,119 --> 00:26:02,280 Speaker 1: to the guideline, the district will no longer require daily 458 00:26:02,280 --> 00:26:05,360 Speaker 1: health screenings to enter school buildings, nor will it conduct 459 00:26:05,440 --> 00:26:09,600 Speaker 1: in school PCR surveillance testing. Global needs twenty four hours 460 00:26:09,600 --> 00:26:12,440 Speaker 1: a day on here and on Bloomberg Quick Tank, powered 461 00:26:12,440 --> 00:26:15,119 Speaker 1: by more than twenty seven under journalist and analyist more 462 00:26:15,119 --> 00:26:18,760 Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg, John, Michael, 463 00:26:18,800 --> 00:26:25,160 Speaker 1: thank you. It's now six thirty six on Wall Street. 464 00:26:25,240 --> 00:26:28,320 Speaker 1: That's time for the Bloomberg Sports Upday Morning John, Stash 465 00:26:28,760 --> 00:26:31,119 Speaker 1: Morning John. The Mets went down to Atlanta, flying high, 466 00:26:31,160 --> 00:26:33,639 Speaker 1: winners of seventeen of their last twenty games. They have 467 00:26:33,720 --> 00:26:35,879 Speaker 1: come back to earth as the Braves have won twice 468 00:26:35,880 --> 00:26:38,879 Speaker 1: by a combined score of eighteen to one. Mets at 469 00:26:38,920 --> 00:26:41,560 Speaker 1: only three hits off Charlie Morton, who struck at twelve 470 00:26:41,600 --> 00:26:44,679 Speaker 1: when Atlanta's five nothing win that cuts the Mets Division 471 00:26:44,760 --> 00:26:46,760 Speaker 1: lead down to three and a half, and another starting 472 00:26:46,760 --> 00:26:49,520 Speaker 1: pitcher is injured. The Mets just just put Carlos Carrasco 473 00:26:49,600 --> 00:26:52,240 Speaker 1: on the injured list, Taiwan Walker at the leave last 474 00:26:52,320 --> 00:26:54,880 Speaker 1: night after just two wings with back spasm. The Mets 475 00:26:54,920 --> 00:26:56,600 Speaker 1: do have Max Schers who are going on the mount 476 00:26:56,640 --> 00:27:00,280 Speaker 1: tonight Jacob to Grim tomorrow in those two aces are edule. 477 00:27:00,359 --> 00:27:03,159 Speaker 1: The next week faced the Yankees, who lost again Tampa 478 00:27:03,160 --> 00:27:05,760 Speaker 1: Bay's Randy and Rose Arena and killed the Yanks two 479 00:27:05,800 --> 00:27:07,440 Speaker 1: years ago in the playoffs. The three one homer first 480 00:27:07,480 --> 00:27:10,240 Speaker 1: hitting off Nestor Cortez. It's all the Raised got or 481 00:27:10,359 --> 00:27:12,760 Speaker 1: needed in a three one win as the Yankee bats 482 00:27:12,760 --> 00:27:15,720 Speaker 1: were again quiet only four hits. Even Aaron Judge is 483 00:27:15,760 --> 00:27:19,920 Speaker 1: not hitting one for his last four teams is happy 484 00:27:19,920 --> 00:27:23,879 Speaker 1: about it um. But you know, having a little bit 485 00:27:23,880 --> 00:27:26,840 Speaker 1: of a cushion helps, but that cushion can dwindle quick, 486 00:27:26,880 --> 00:27:28,560 Speaker 1: so we gotta we gotta stay on top of it. 487 00:27:28,600 --> 00:27:30,879 Speaker 1: And you guys are putting, the working guys are coming up, 488 00:27:30,880 --> 00:27:33,320 Speaker 1: they're showing up, they're doing their things. So and I'm 489 00:27:33,359 --> 00:27:35,080 Speaker 1: just about going out there on the field and performance 490 00:27:35,119 --> 00:27:37,320 Speaker 1: makes have lost six of seven. In those seven games, 491 00:27:37,320 --> 00:27:40,040 Speaker 1: they scored a totally nine runs. The Jets, says Zach 492 00:27:40,080 --> 00:27:42,920 Speaker 1: Wilson's the surgery went well and it's possible the Jets 493 00:27:43,040 --> 00:27:46,399 Speaker 1: quarterbacks would played the season opener tennis and Cincinnati. Serena 494 00:27:46,440 --> 00:27:49,399 Speaker 1: Williams lost six four or six love to m A Radicano. 495 00:27:49,520 --> 00:27:52,760 Speaker 1: She's half Serena's age. She's defending the US Open champs 496 00:27:52,800 --> 00:27:55,040 Speaker 1: Arena now gets ready to come to New York for 497 00:27:55,119 --> 00:27:57,240 Speaker 1: the Open. She says it will be the final tournament 498 00:27:57,440 --> 00:28:01,240 Speaker 1: of her period. John Stashwart, Bloomberg Sports. John, thanks very much. 499 00:28:01,840 --> 00:28:05,200 Speaker 1: Seven on wall st Time now to take a look 500 00:28:05,200 --> 00:28:07,000 Speaker 1: at stocks, some of the names that are moving in 501 00:28:07,040 --> 00:28:10,000 Speaker 1: the premarket, and for that we're joined by Bloomberg reporter 502 00:28:10,240 --> 00:28:14,439 Speaker 1: Laura Right and Laura the Parade of earnings continues this morning, 503 00:28:14,760 --> 00:28:17,920 Speaker 1: more retailers reporting what do you have for us? Yeah, 504 00:28:17,920 --> 00:28:21,240 Speaker 1: we'll starting with Target. It was a big miss on profit. 505 00:28:21,320 --> 00:28:24,200 Speaker 1: Adjusted EPs came in at thirty nine cents a share. 506 00:28:24,400 --> 00:28:27,680 Speaker 1: The estimate was four around seventy two cents a share. 507 00:28:27,800 --> 00:28:30,320 Speaker 1: Right now, that stock is falling around four percent ahead 508 00:28:30,320 --> 00:28:34,800 Speaker 1: of the bell. This is primarily because of markdowns, reductions 509 00:28:34,800 --> 00:28:39,360 Speaker 1: and prices. Home Appliance is patio, furniture, discretionary items. We 510 00:28:39,480 --> 00:28:45,480 Speaker 1: know that markdowns of prices hits gross margins. Targets inventory 511 00:28:45,560 --> 00:28:49,320 Speaker 1: increased thirty in the second quarter from the same period 512 00:28:49,440 --> 00:28:53,320 Speaker 1: a year ago. The reason why Target they stocked up 513 00:28:53,320 --> 00:28:56,160 Speaker 1: trying to avoid supply chain congestion, but in the end 514 00:28:56,160 --> 00:29:00,240 Speaker 1: they struggled to offload that inventory onto consumers. Okay, after 515 00:29:00,800 --> 00:29:05,320 Speaker 1: the land of two by fours and stuff blows, Yes, 516 00:29:05,440 --> 00:29:09,520 Speaker 1: so lows right now up some three in pre market trading. 517 00:29:10,080 --> 00:29:13,680 Speaker 1: Loads reported comparable sales for the quarter that missed the 518 00:29:13,720 --> 00:29:18,080 Speaker 1: average analyst estimate, albeit fractionally, net sales of twenty seven 519 00:29:18,200 --> 00:29:22,240 Speaker 1: billion dollars, and in a statement, the Home, a sabashing 520 00:29:22,240 --> 00:29:26,360 Speaker 1: company said despite the continued macro uncertainty, they remain confident 521 00:29:26,720 --> 00:29:29,800 Speaker 1: of their long term strength for the home improvement market 522 00:29:29,840 --> 00:29:33,040 Speaker 1: and their ability to take more market share. They reiterated 523 00:29:33,040 --> 00:29:38,640 Speaker 1: their full year total sales target between dollars. But really, 524 00:29:39,040 --> 00:29:42,840 Speaker 1: companies like lows and targets are barometers of how consumers 525 00:29:42,840 --> 00:29:47,280 Speaker 1: are feeling. So subsequent quarters are crucial. Will we wait 526 00:29:47,400 --> 00:29:50,480 Speaker 1: for those bathroom renovations or home extensions or will we 527 00:29:50,520 --> 00:29:54,160 Speaker 1: postpone them because we feel more uncertain about our own incomes? 528 00:29:54,320 --> 00:29:57,880 Speaker 1: What does Hill International? Where they do? Yeah, so this 529 00:29:58,160 --> 00:30:02,480 Speaker 1: is a construction consulting fir um. It's up sixty percent 530 00:30:02,680 --> 00:30:05,640 Speaker 1: in pre market trading, and this is because it's announced 531 00:30:05,680 --> 00:30:09,800 Speaker 1: that Global Infrastructure Solutions will commence an all cash tend 532 00:30:09,800 --> 00:30:13,680 Speaker 1: to offer for two dollars a share that represents a 533 00:30:13,720 --> 00:30:17,440 Speaker 1: premium of sixty three to the last closing price. Now, 534 00:30:17,480 --> 00:30:22,880 Speaker 1: this merger advances the buyers objectives of diversification and expansion, 535 00:30:23,320 --> 00:30:27,800 Speaker 1: and the transaction values Hill at seventy three million u 536 00:30:27,880 --> 00:30:29,760 Speaker 1: S dollars and the deal is expected to close the 537 00:30:29,880 --> 00:30:33,720 Speaker 1: end of this year. Let's finish up fundamental fundamentals, let's 538 00:30:33,720 --> 00:30:37,200 Speaker 1: go and beyond what's going on there. Yeah, but Wall 539 00:30:37,200 --> 00:30:40,760 Speaker 1: Street analysts are calling it meme stock frenzy once again, 540 00:30:40,840 --> 00:30:44,000 Speaker 1: the stock rallying um and it's on track for a 541 00:30:44,080 --> 00:30:47,280 Speaker 1: sixth day of games. To put that in context, it's 542 00:30:47,320 --> 00:30:52,360 Speaker 1: it's over around three three week surge and call options 543 00:30:52,360 --> 00:30:55,040 Speaker 1: are betting the stock to trade above forty dollars by 544 00:30:55,080 --> 00:30:59,280 Speaker 1: the end of the week. Really, it's that mean stock frenzy, 545 00:30:59,360 --> 00:31:02,680 Speaker 1: as you mentioned, knocking its fundamentals. All right, Laura, always 546 00:31:02,680 --> 00:31:05,960 Speaker 1: a pleasure, You appreciate it, Bloomberg News reporter Laura right, 547 00:31:06,120 --> 00:31:09,520 Speaker 1: and looking at the overall market right now, down future 548 00:31:09,560 --> 00:31:12,520 Speaker 1: is one hundred sixty points lower SMB even the futures 549 00:31:12,560 --> 00:31:17,280 Speaker 1: now than NANDAK futures one seven points lower. You're listening 550 00:31:17,280 --> 00:31:22,400 Speaker 1: to Bloomberg day Break and Bloomberg Weather for it today 551 00:31:22,440 --> 00:31:25,200 Speaker 1: partial sun developing, chance of a shower this morning, high 552 00:31:25,200 --> 00:31:30,120 Speaker 1: sight clear tonight blow sixty to seventy degrees and Rob 553 00:31:30,200 --> 00:31:33,480 Speaker 1: Carolin tells us partly the mostly Sunday tomorrow highs in 554 00:31:33,520 --> 00:31:39,960 Speaker 1: the mid eighties. Markets, headlines and breaking news twenty four 555 00:31:40,000 --> 00:31:43,240 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business app, 556 00:31:43,360 --> 00:31:46,680 Speaker 1: and at Bloomberg Quick Tape. This is a Bloomberg Business 557 00:31:46,760 --> 00:31:55,800 Speaker 1: Flash and I'm Karen Moscow. It's another busy morning for earnings. 558 00:31:55,840 --> 00:31:58,680 Speaker 1: We've heard from Target. We've heard from lows and futures 559 00:31:58,720 --> 00:32:00,600 Speaker 1: are lower. We get to the first and breaking news 560 00:32:00,680 --> 00:32:03,680 Speaker 1: dance for today's morning call. Here's Bill Maloney. Bill, good morning, 561 00:32:04,360 --> 00:32:06,520 Speaker 1: and good morning, Karen. That's right. U S features are 562 00:32:06,600 --> 00:32:08,680 Speaker 1: under pressure right now at down features down a hundred 563 00:32:08,720 --> 00:32:10,960 Speaker 1: and seventy seven points. STB s drop thirty one one. 564 00:32:11,040 --> 00:32:14,280 Speaker 1: NASA futures are down by a hundred and thirteen. The 565 00:32:14,320 --> 00:32:16,959 Speaker 1: US ten year old at two point eight six percent, 566 00:32:17,080 --> 00:32:19,479 Speaker 1: Gold is down three, oil is in the green, and 567 00:32:19,520 --> 00:32:22,680 Speaker 1: bitcoin is down by point nine percent. Japan rose one 568 00:32:22,720 --> 00:32:25,120 Speaker 1: point two percent overnight, while eup markets are trading in 569 00:32:25,160 --> 00:32:27,360 Speaker 1: the red this morning and back in the US. On 570 00:32:27,400 --> 00:32:29,920 Speaker 1: the economic front, eight thirty retail sales and at ten 571 00:32:29,920 --> 00:32:34,560 Speaker 1: o'clock business inventories. You mentioned those earnings low ZPs beat estimates. 572 00:32:34,600 --> 00:32:36,880 Speaker 1: Shares are up three point eight percent pre market, but 573 00:32:36,960 --> 00:32:40,600 Speaker 1: Target missed its lowest profit estimates, but still predicts a 574 00:32:40,640 --> 00:32:43,680 Speaker 1: rebound In other New Zealand, Musk says he was joking 575 00:32:43,720 --> 00:32:47,680 Speaker 1: about buying Manchester United and wrapping things up. Stanley Blackendecker 576 00:32:47,800 --> 00:32:50,920 Speaker 1: was cut to hold over heat. Deutsche Bank Live from 577 00:32:50,960 --> 00:32:53,800 Speaker 1: the first Breaking news descom Bill Maloney, Karen All right, Bill, 578 00:32:53,840 --> 00:32:56,120 Speaker 1: thank you, and here live breaking news over your Bloomberry Times, 579 00:32:56,120 --> 00:32:58,840 Speaker 1: Squawk on your terminal squ A w u K, and 580 00:32:58,880 --> 00:33:01,280 Speaker 1: we're also watching tar It shares their down more than 581 00:33:01,320 --> 00:33:04,520 Speaker 1: three percent as a Bloomberg Business flashdown. Here's Michael Barr 582 00:33:04,640 --> 00:33:06,800 Speaker 1: with more on what's going on around the world. Michael, 583 00:33:07,640 --> 00:33:10,960 Speaker 1: thank you very much. Karen, one of former President Trump's 584 00:33:11,000 --> 00:33:15,000 Speaker 1: most vocal Republican opponents, has gone down to defeat. Liz 585 00:33:15,080 --> 00:33:18,600 Speaker 1: Cheney lost the Republican primary to retain her seat in 586 00:33:18,640 --> 00:33:22,560 Speaker 1: the House to Harry and Hegeman arrival backed by Trump 587 00:33:22,960 --> 00:33:28,720 Speaker 1: sixty to Alaska U S Senator Lisa Murkowski and her 588 00:33:28,760 --> 00:33:35,080 Speaker 1: Trump endorsed Republican rival, Kelly Shavaka, have advanced from Tuesday's primary. Meanwhile, 589 00:33:35,120 --> 00:33:39,440 Speaker 1: Republican Sarah Palin, the former governor, was among the candidates 590 00:33:39,480 --> 00:33:42,440 Speaker 1: advancing to the November general election in the race for 591 00:33:42,520 --> 00:33:47,200 Speaker 1: Alaska's only House seat. In baseball, the Mets continue to slump. 592 00:33:47,240 --> 00:33:50,720 Speaker 1: They lost. The Mets also lose the Red Sox and 593 00:33:50,760 --> 00:33:55,000 Speaker 1: Orioles one. The Nationals lost the A's and Giants won 594 00:33:55,560 --> 00:33:58,440 Speaker 1: Global News twenty four hours a day on air and 595 00:33:58,640 --> 00:34:02,200 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven under 596 00:34:02,280 --> 00:34:06,160 Speaker 1: journalists and analysts in more than countries. I'm Michael Barr, 597 00:34:06,440 --> 00:34:09,400 Speaker 1: and this is Bloomberg, Karen Marry, Michael, thank you. At 598 00:34:09,440 --> 00:34:11,279 Speaker 1: a six forty nine on Wall Straight, we turned to 599 00:34:11,360 --> 00:34:13,960 Speaker 1: news and science and technology. Now at the Bloomberg and 600 00:34:14,080 --> 00:34:16,480 Speaker 1: j I T STEM Report, it has run to you 601 00:34:16,600 --> 00:34:19,279 Speaker 1: buy New Jersey Institute of Technology n j i T 602 00:34:19,440 --> 00:34:22,560 Speaker 1: makes industry ready engineers and more than twenty fields. If 603 00:34:22,560 --> 00:34:24,879 Speaker 1: it's engineering, it's at n j I T. Learn more 604 00:34:24,920 --> 00:34:27,080 Speaker 1: at n j I T dot E d U and 605 00:34:27,120 --> 00:34:30,479 Speaker 1: here's just making news in science, technology, engineering and math. 606 00:34:31,000 --> 00:34:34,799 Speaker 1: Drought in high temperatures exacerbated by climate change have led 607 00:34:34,840 --> 00:34:38,320 Speaker 1: to record levels of fire activity across Europe. It's burned 608 00:34:38,320 --> 00:34:42,360 Speaker 1: an area roughly equivalent to one fifth of Belgium. Wildfires 609 00:34:42,360 --> 00:34:44,439 Speaker 1: in the EU have consumed over one and a half 610 00:34:44,560 --> 00:34:47,560 Speaker 1: million acres of land in twenty two, according to the 611 00:34:47,680 --> 00:34:51,920 Speaker 1: data from the European Forest Fire Information System. Scientists in 612 00:34:51,960 --> 00:34:54,640 Speaker 1: Australia and the US hope to use stem cells and 613 00:34:54,719 --> 00:34:58,280 Speaker 1: gene editing technology to bring the Tasmanian tiger back to life. 614 00:34:58,640 --> 00:35:01,480 Speaker 1: The animal went extinct in nineteen thirties, and it would 615 00:35:01,520 --> 00:35:04,920 Speaker 1: mark the first ever de extinction event, but some experts 616 00:35:04,960 --> 00:35:08,840 Speaker 1: are skeptical. Associate Professor Jeremy Austin from the Australian Center 617 00:35:08,840 --> 00:35:11,960 Speaker 1: for Agent d NA told The Sydney Morning Harold d 618 00:35:12,200 --> 00:35:16,440 Speaker 1: extinction is fairy tale science and TESLA is trying to 619 00:35:16,480 --> 00:35:19,880 Speaker 1: reduce vehicle delivery times as quickly as possible. According to 620 00:35:19,920 --> 00:35:23,080 Speaker 1: a tweet from CEO Elon Musk in response to another 621 00:35:23,120 --> 00:35:26,200 Speaker 1: Twitter user, Musk wrote, long wait times are not a 622 00:35:26,280 --> 00:35:29,200 Speaker 1: good thing. That's a Bloomberg and j I t stemme 623 00:35:29,280 --> 00:35:31,920 Speaker 1: report John all right, thanks Karen. We are lyne from 624 00:35:31,920 --> 00:35:35,240 Speaker 1: the Bloomberg into hanter Broker's studios where it's six fifty 625 00:35:35,239 --> 00:35:37,120 Speaker 1: one on Wall Street. Time to out to check what's 626 00:35:37,160 --> 00:35:39,880 Speaker 1: going on in d C. Some of the top stories 627 00:35:39,920 --> 00:35:44,560 Speaker 1: in our nation's capital include Cheney losing the GOP primary 628 00:35:44,640 --> 00:35:47,520 Speaker 1: bounty to keep Donald Trump from the White House, Lisa 629 00:35:47,560 --> 00:35:52,240 Speaker 1: Murkowski advancing in Atlaska despite the former president. Also Sarah 630 00:35:52,280 --> 00:35:56,160 Speaker 1: Palin moving ahead, and Donald Trump asking appeals courts to 631 00:35:56,280 --> 00:36:00,400 Speaker 1: scrap the New York probe of his assets. Bill Gates 632 00:36:00,480 --> 00:36:04,640 Speaker 1: quietly campaign to save Joe Biden's climate bill. Also, China 633 00:36:04,719 --> 00:36:08,080 Speaker 1: warning the US against Sailey warships to the Taiwan Straits. 634 00:36:08,400 --> 00:36:10,320 Speaker 1: Let's take a deeper dive in some of these stories 635 00:36:10,360 --> 00:36:14,520 Speaker 1: this morning. Bloomberg Radio and TV Washington corresponded, and Marie, 636 00:36:14,640 --> 00:36:17,160 Speaker 1: we're durn I'm happy to say us with us this morning. 637 00:36:17,600 --> 00:36:22,120 Speaker 1: So Cheney loses and uh, what's next. Well, it's pretty 638 00:36:22,200 --> 00:36:23,800 Speaker 1: much all about set in stone right that she was 639 00:36:23,840 --> 00:36:26,560 Speaker 1: going to lose. This was a state that President Trump, 640 00:36:26,719 --> 00:36:31,439 Speaker 1: someone that she has been criticizing since the election. Uh, 641 00:36:31,719 --> 00:36:35,160 Speaker 1: he carried. So she lost. And now we learned from 642 00:36:35,160 --> 00:36:37,520 Speaker 1: political this morning that she is going to be starting 643 00:36:37,719 --> 00:36:40,600 Speaker 1: an organization. We should know she has about seven million 644 00:36:40,680 --> 00:36:44,719 Speaker 1: left in campaign finances. Um, and she will continue until 645 00:36:44,719 --> 00:36:46,480 Speaker 1: the end of the year, until term is up, to 646 00:36:47,160 --> 00:36:49,840 Speaker 1: continue with the Select Committee, the general six Select Committee. 647 00:36:50,320 --> 00:36:53,680 Speaker 1: While this was all very obvious, she did in her 648 00:36:53,719 --> 00:36:55,799 Speaker 1: speech though, you know, she talked about Lincoln, the fact 649 00:36:55,880 --> 00:36:58,000 Speaker 1: that he when he ran for the House and the 650 00:36:58,080 --> 00:37:01,800 Speaker 1: Senate he didn't win, but then he one and assail 651 00:37:01,920 --> 00:37:05,120 Speaker 1: to the highest office. So she kind of put out 652 00:37:05,120 --> 00:37:07,359 Speaker 1: there in the ether this idea that this is not 653 00:37:07,400 --> 00:37:11,320 Speaker 1: going to be the end of her political career. UM. 654 00:37:11,360 --> 00:37:13,480 Speaker 1: I don't know if you're can answer this, but specifically, 655 00:37:13,719 --> 00:37:16,680 Speaker 1: is it all about Trump in Wyoming, or were there 656 00:37:16,680 --> 00:37:21,960 Speaker 1: were specific local issues that voters there had latched onto 657 00:37:22,000 --> 00:37:24,640 Speaker 1: that maybe she was a little too focused on national 658 00:37:24,640 --> 00:37:28,000 Speaker 1: events on the former president rather than issues near and 659 00:37:28,080 --> 00:37:31,520 Speaker 1: dear locally. Well, I would say if you look at 660 00:37:31,600 --> 00:37:33,560 Speaker 1: some of these um, and this was quoted in the 661 00:37:33,560 --> 00:37:36,200 Speaker 1: Wall Street Journalist, University of Wyoming Pole, I think this 662 00:37:36,280 --> 00:37:39,719 Speaker 1: speaks to what is going on in the tone in Wyoming. 663 00:37:39,840 --> 00:37:42,200 Speaker 1: So this poll shows that of the likely voters who 664 00:37:42,280 --> 00:37:45,239 Speaker 1: support Harriet Hageman, which is the one Donald Trump was 665 00:37:45,280 --> 00:37:48,960 Speaker 1: backing and she won the primary, only six believe that 666 00:37:49,719 --> 00:37:57,640 Speaker 1: presidential election was legitimate. Of Representative Cheney supporters believed that 667 00:37:57,719 --> 00:38:00,920 Speaker 1: it was legitimate. So I think it is fair to 668 00:38:00,960 --> 00:38:05,520 Speaker 1: say so much of these Wyoming voters it was about Trump. 669 00:38:05,560 --> 00:38:08,160 Speaker 1: You know, they want to name highways after him, a 670 00:38:08,280 --> 00:38:11,680 Speaker 1: number of individuals. There's been lots of talk about things 671 00:38:11,719 --> 00:38:17,080 Speaker 1: like this so less so obviously local old politics is local, 672 00:38:17,560 --> 00:38:21,240 Speaker 1: but really so much of this was about President Trump, 673 00:38:21,280 --> 00:38:24,359 Speaker 1: and really she was almost running against him in a way. Yeah. 674 00:38:24,560 --> 00:38:29,320 Speaker 1: Just another question related to that, UM, the January six committee, 675 00:38:29,360 --> 00:38:33,840 Speaker 1: is it diminished now because of these results? Well? I 676 00:38:33,880 --> 00:38:37,839 Speaker 1: don't actually think so, right, because she's still on it 677 00:38:37,880 --> 00:38:41,520 Speaker 1: with a number of other individuals, and it's really going 678 00:38:41,560 --> 00:38:44,280 Speaker 1: to be now about as we've seen from the past 679 00:38:44,360 --> 00:38:48,279 Speaker 1: panels and these hearings that have been broadcasted in prime time. Uh, 680 00:38:48,320 --> 00:38:50,360 Speaker 1: really the most shocking things we've heard are from the 681 00:38:50,400 --> 00:38:53,879 Speaker 1: individuals they brought in. So I think they will still 682 00:38:53,920 --> 00:38:56,799 Speaker 1: be important based off of the individuals they were able 683 00:38:56,840 --> 00:39:00,640 Speaker 1: to come in and testify before Congress. Let's move on 684 00:39:00,719 --> 00:39:03,759 Speaker 1: to Alaska. So the results there, what do they tell us? 685 00:39:04,360 --> 00:39:07,279 Speaker 1: So Alaska is interesting because similar to Liz Chena, you 686 00:39:07,320 --> 00:39:11,239 Speaker 1: had Senator Murkowski who also voted to impeach Trump, but 687 00:39:11,520 --> 00:39:15,560 Speaker 1: she was able to still win a seat in this primary. 688 00:39:15,600 --> 00:39:18,239 Speaker 1: And I say a seat because Alaska has uh this 689 00:39:18,480 --> 00:39:21,280 Speaker 1: different kind of logistics on how they go about their election. 690 00:39:21,640 --> 00:39:28,120 Speaker 1: So both Senator Lisa Murkowski and also Kelly Shabaka will 691 00:39:28,400 --> 00:39:32,120 Speaker 1: both advance the general election race. This is this new format. 692 00:39:32,239 --> 00:39:35,520 Speaker 1: So basically, if you're in Alaska, you can rank your candidates, 693 00:39:35,560 --> 00:39:38,239 Speaker 1: so one of your first choices gets bumped out, your 694 00:39:38,320 --> 00:39:40,759 Speaker 1: vote will still count to who your second choice was. 695 00:39:41,280 --> 00:39:45,160 Speaker 1: So she's still able to advance and that will also 696 00:39:45,200 --> 00:39:47,080 Speaker 1: be a very interesting one to watch. More so in 697 00:39:47,080 --> 00:39:50,480 Speaker 1: the general election, okay, with the open primaries. Also Sarah Palin, 698 00:39:50,760 --> 00:39:53,640 Speaker 1: how did she do? Yeah, she made a comeback, right. 699 00:39:54,000 --> 00:39:57,400 Speaker 1: She's running for this lone house seat. UM that's in 700 00:39:57,440 --> 00:40:01,040 Speaker 1: a separate primary, also backed by try ump Um. She's 701 00:40:01,080 --> 00:40:05,560 Speaker 1: one of these four countenants announcing the primary as as well. UM. 702 00:40:05,640 --> 00:40:09,000 Speaker 1: And again, given this format, she'll likely go through and 703 00:40:09,280 --> 00:40:12,720 Speaker 1: they'll be ranked. Let me skip ahead now to Donald 704 00:40:12,719 --> 00:40:17,080 Speaker 1: Trump asking an appeals court to scrap the probe of 705 00:40:17,200 --> 00:40:19,960 Speaker 1: his assets. This is the probe that's that was launched 706 00:40:19,960 --> 00:40:25,000 Speaker 1: by Attorney General of New York Letitia James. Yeah, the 707 00:40:25,040 --> 00:40:29,839 Speaker 1: investigation he is. He says that she is having against him. 708 00:40:29,920 --> 00:40:32,880 Speaker 1: She said, this is harassing and overreaching and tainted by 709 00:40:32,880 --> 00:40:35,239 Speaker 1: the Democrats. It's almost hard to keep up with the 710 00:40:35,320 --> 00:40:38,359 Speaker 1: number of investigations the former president is under. But what 711 00:40:38,400 --> 00:40:42,600 Speaker 1: we know now is that he is asking the appeals 712 00:40:42,600 --> 00:40:47,920 Speaker 1: court to block this investigation into potentially fragient asset value evasions. 713 00:40:48,200 --> 00:40:51,560 Speaker 1: This is of course into his private Trump world. This 714 00:40:51,600 --> 00:40:55,120 Speaker 1: is about his real estate company. Um. But this is 715 00:40:55,160 --> 00:40:58,680 Speaker 1: a three year old probe, right, so now he's asking 716 00:40:59,239 --> 00:41:01,680 Speaker 1: for the appeals or to block it. This just going 717 00:41:01,760 --> 00:41:05,239 Speaker 1: to extend it. Also you know, we saw the real 718 00:41:05,320 --> 00:41:08,040 Speaker 1: quick that the signing of the climate bill yesterday at 719 00:41:08,040 --> 00:41:12,279 Speaker 1: the White House. Lurking in the background figuratively was Bill 720 00:41:12,360 --> 00:41:15,399 Speaker 1: Gates tell us about that? Yeah, so he apparently made 721 00:41:15,440 --> 00:41:18,600 Speaker 1: some calls to the Senate Majority Leader Chuck Schumer, who 722 00:41:18,600 --> 00:41:20,920 Speaker 1: obviously his job is to hold the whole party together 723 00:41:21,160 --> 00:41:25,480 Speaker 1: to in July to try to get this through, because 724 00:41:25,600 --> 00:41:28,080 Speaker 1: of course, in July, i mean weeks ago, we never 725 00:41:28,120 --> 00:41:31,480 Speaker 1: thought we'd see a bill like this because of some 726 00:41:31,560 --> 00:41:34,080 Speaker 1: of the concerns there was coming from West Virginia Senator 727 00:41:34,560 --> 00:41:37,719 Speaker 1: um Joe Manchin. So you know, reading some of this 728 00:41:38,200 --> 00:41:42,120 Speaker 1: amazing little TikTok we have on the Boomberg terminal, he's 729 00:41:42,120 --> 00:41:44,640 Speaker 1: talking about how he was almost giving these senators a 730 00:41:44,680 --> 00:41:49,959 Speaker 1: pep talk um describing what these calls were about, and 731 00:41:50,400 --> 00:41:52,080 Speaker 1: you know some of them. So much of this was 732 00:41:52,160 --> 00:41:54,280 Speaker 1: coming as not of course, as we know Bill Gates 733 00:41:54,320 --> 00:41:58,600 Speaker 1: is a huge climate activist, but also in July, temperatures 734 00:41:58,640 --> 00:42:01,160 Speaker 1: around America, We're sure it was one of the hottest 735 00:42:01,200 --> 00:42:04,120 Speaker 1: summers in US history, um, and half the country was 736 00:42:04,160 --> 00:42:06,439 Speaker 1: in drought. So you know, I think we probably used 737 00:42:06,440 --> 00:42:10,120 Speaker 1: that background to really put the emphasis on why some 738 00:42:10,200 --> 00:42:13,400 Speaker 1: of these climate provisions were important to him and Marie. 739 00:42:13,440 --> 00:42:16,319 Speaker 1: Always a pleasure. Thanks for amout, Amory Hordern. You can 740 00:42:16,360 --> 00:42:18,480 Speaker 1: read more about these stories on bloomberg dot com, the 741 00:42:18,520 --> 00:42:21,320 Speaker 1: Bloomberg Terminal, and reminded you can follow all the latest 742 00:42:21,640 --> 00:42:25,560 Speaker 1: on Bloomberg Radio in Washington. That's Bloomberg at one oh 743 00:42:25,640 --> 00:42:30,040 Speaker 1: five point seven FM HD two. Futures are lower after 744 00:42:30,120 --> 00:42:32,480 Speaker 1: the latest rount of retail earnings. We've got this morning 745 00:42:32,520 --> 00:42:35,960 Speaker 1: down futures down one sixty five and smp emity futures 746 00:42:35,960 --> 00:42:39,080 Speaker 1: down twenty nine and that Antick features down one hundred 747 00:42:39,200 --> 00:42:42,879 Speaker 1: and twelve points. Still waiting for that retail report this 748 00:42:42,960 --> 00:42:47,080 Speaker 1: morning from the government. You're listening to Bloomberg Daybreak just 749 00:42:47,120 --> 00:42:50,200 Speaker 1: to hand surveillance. I'm John Tucker along with Karen Moscow.