1 00:00:01,800 --> 00:00:05,119 Speaker 1: By from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:05,200 --> 00:00:08,719 Speaker 1: day Break for Friday, October seven two. Coming up this hour, 3 00:00:09,039 --> 00:00:12,080 Speaker 1: we await US jobs data as stocks try to avoid 4 00:00:12,080 --> 00:00:15,400 Speaker 1: a three day slide that officials overwhelmingly pushed back against 5 00:00:15,400 --> 00:00:18,200 Speaker 1: the idea of cutting rates next year. The trial between 6 00:00:18,200 --> 00:00:20,759 Speaker 1: Elon Musk and Twitter gets delayed and helps the deal 7 00:00:20,800 --> 00:00:23,760 Speaker 1: will close. An oil voice for a big weekly rally 8 00:00:23,800 --> 00:00:26,799 Speaker 1: after Opex announced cutting judges ruling as a blow to 9 00:00:26,880 --> 00:00:30,040 Speaker 1: New York State's new gun law. Plus an n y 10 00:00:30,160 --> 00:00:33,360 Speaker 1: p D cruiser crashes onto a sidewalk in during ten 11 00:00:33,440 --> 00:00:36,280 Speaker 1: People on Michael barr More I'm John Stay Show, where 12 00:00:36,280 --> 00:00:38,440 Speaker 1: the Colts meet the Broncos it over time. The Medicine 13 00:00:38,479 --> 00:00:42,080 Speaker 1: Padres begin their wild Card playoff series tonight at City Field. 14 00:00:44,479 --> 00:00:48,680 Speaker 1: That's All's tradinghead on Bloomberg Daybreak on Bloomberg Eliving Free 15 00:00:48,680 --> 00:00:53,120 Speaker 1: on New York, Bloomberg one, Washington d C, Bloomberg one 16 00:00:53,120 --> 00:00:57,639 Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Sirius 17 00:00:57,800 --> 00:01:00,200 Speaker 1: x M one nine Team and around the world on 18 00:01:00,360 --> 00:01:03,720 Speaker 1: Bloomberg Radio dot Com and via the Bloomberg business Side 19 00:01:07,400 --> 00:01:10,320 Speaker 1: and Good Morning I'm Kared Moscow, I'm Nathan Hagar. Bloomberg 20 00:01:10,400 --> 00:01:12,600 Speaker 1: Daybreak is brought to you by B and Y Melon's Pershing. 21 00:01:12,680 --> 00:01:15,920 Speaker 1: Learn why the world's most sophisticated wealth management and institutional 22 00:01:15,959 --> 00:01:19,640 Speaker 1: firms rely on Pershing to help them improve profitability, create efficiency, 23 00:01:19,680 --> 00:01:23,399 Speaker 1: attract talent, and manage risk at Pershing dot Com and 24 00:01:23,520 --> 00:01:26,200 Speaker 1: US futures are a little change this morning. It's six 25 00:01:26,200 --> 00:01:27,839 Speaker 1: o one on Wall Street and we checked the markets 26 00:01:27,840 --> 00:01:30,520 Speaker 1: every fifteen minutes throughout the trading day on bloomberg S 27 00:01:30,600 --> 00:01:33,000 Speaker 1: and p futures. That will change this morning now futures 28 00:01:33,040 --> 00:01:35,800 Speaker 1: up sixty two and ASDAC futures down twenty nine. And 29 00:01:35,880 --> 00:01:38,120 Speaker 1: this data check brought to you by SEI, built on 30 00:01:38,120 --> 00:01:41,880 Speaker 1: advanced technologies and fifty years of innovation. SEI offers asset 31 00:01:41,920 --> 00:01:45,600 Speaker 1: managers a comprehensive and flexible operations outsourcing platform. Go to 32 00:01:45,720 --> 00:01:49,400 Speaker 1: se i C dot com slash Managers. Karen, let's begin 33 00:01:49,440 --> 00:01:51,920 Speaker 1: with talk from the Fed. Central Bankers are coming out 34 00:01:51,920 --> 00:01:54,680 Speaker 1: in full force to talk down expectations of a turn 35 00:01:54,720 --> 00:01:57,520 Speaker 1: to more dubbish policy. We heard hawkish comments from no 36 00:01:57,680 --> 00:02:01,720 Speaker 1: less than five officials yesterday include Minneapolis Fed President Neil 37 00:02:01,760 --> 00:02:04,880 Speaker 1: cash Cary until I see some evidence that underlying inflation 38 00:02:05,280 --> 00:02:08,880 Speaker 1: has solidly peaked and is hopefully headed back down. I'm 39 00:02:08,880 --> 00:02:12,080 Speaker 1: not ready to declare pause. Minneapolis FED President Neil cash 40 00:02:12,120 --> 00:02:15,120 Speaker 1: Cary says he expects losses and failures around the global 41 00:02:15,120 --> 00:02:18,600 Speaker 1: economy as we transition to a higher interest rate environment. Likewise, 42 00:02:18,639 --> 00:02:21,280 Speaker 1: FED Governor Christopher Waller says he sees no sign of 43 00:02:21,280 --> 00:02:24,519 Speaker 1: a FED pivot either this or next year. I anticipate 44 00:02:24,639 --> 00:02:28,320 Speaker 1: additional rate hikes into early next year, and I'll be 45 00:02:28,360 --> 00:02:31,200 Speaker 1: watching the data carefully to decide the appropriate pace of 46 00:02:31,280 --> 00:02:34,280 Speaker 1: tightening as we continue to move into more and more 47 00:02:34,360 --> 00:02:37,720 Speaker 1: restrictive territory. FED Governor Christopher Waller emphasized the need to 48 00:02:37,760 --> 00:02:40,919 Speaker 1: find inflation. We heard similar remarks from Cleveland Fed chief 49 00:02:41,000 --> 00:02:44,160 Speaker 1: Ler and Amester FED Governor Lisa Cook, and Chicago's Charles 50 00:02:44,160 --> 00:02:47,000 Speaker 1: Evans yesterday. Oh, we take a look at markets now, 51 00:02:47,080 --> 00:02:50,000 Speaker 1: Nathan and US dock index futures are a little change. 52 00:02:50,080 --> 00:02:52,280 Speaker 1: The hawk ish FED talk and some weak earnings from 53 00:02:52,280 --> 00:02:56,160 Speaker 1: shipmakers are hitting sentiment. And Jessica Biemer's portfolio manager with 54 00:02:56,200 --> 00:02:59,760 Speaker 1: Easterly Investment Partners, I think we all have to understand, 55 00:03:00,080 --> 00:03:04,120 Speaker 1: uh um, We're only going to get early hints of 56 00:03:04,160 --> 00:03:06,840 Speaker 1: the Fed's full impact. A lot of the efforts that 57 00:03:06,880 --> 00:03:09,760 Speaker 1: they've put out There obviously huge increasures in the interest rate, 58 00:03:09,840 --> 00:03:11,560 Speaker 1: but that that takes time to work its way through the 59 00:03:11,600 --> 00:03:14,520 Speaker 1: economy and certainly on the jobs numbers that we're going 60 00:03:14,520 --> 00:03:17,880 Speaker 1: to see. Jessica Beamer with Easterly Investment Partners says that 61 00:03:18,040 --> 00:03:21,200 Speaker 1: policy could start hitting earnings in the coming months. Job's 62 00:03:21,240 --> 00:03:23,680 Speaker 1: report is the key event on the agenda today, Karen, 63 00:03:23,680 --> 00:03:26,160 Speaker 1: we get the employment figures for September at eight thirty 64 00:03:26,200 --> 00:03:28,400 Speaker 1: a m. Wall Street time, and here the preview is 65 00:03:28,400 --> 00:03:32,080 Speaker 1: Bloomberg Economics correspondent Michael McKee. Employment is one of the 66 00:03:32,120 --> 00:03:34,720 Speaker 1: Fed's two mandates, and this Job's report will be one 67 00:03:34,720 --> 00:03:37,520 Speaker 1: of the key numbers as policymakers decide on a rate 68 00:03:37,600 --> 00:03:39,880 Speaker 1: hike next month. What they'd like to see is job 69 00:03:39,920 --> 00:03:42,800 Speaker 1: growth in the neighborhood of the Bloomberg consensus, which would 70 00:03:42,800 --> 00:03:46,680 Speaker 1: suggest the economy is slowing but not crashing. Unemployment is 71 00:03:46,720 --> 00:03:50,080 Speaker 1: also key. No change is expected, but historically a jump 72 00:03:50,080 --> 00:03:52,680 Speaker 1: in the jobless for it is a sign of recession ahead. 73 00:03:52,920 --> 00:03:56,400 Speaker 1: Stronger job creation or lower unemployment would suggest the Fed 74 00:03:56,400 --> 00:04:00,120 Speaker 1: will push interest rates higher for longer disappointing investors. A 75 00:04:00,120 --> 00:04:03,440 Speaker 1: consensus like report would turn attention to next week's consumer 76 00:04:03,440 --> 00:04:06,840 Speaker 1: price index, a final decision point for the Fed. Michael 77 00:04:06,880 --> 00:04:09,960 Speaker 1: McKay Bloomberg Daybreak. Thanks stick with us all morning for 78 00:04:10,040 --> 00:04:13,000 Speaker 1: live coverage of the September jobs report, plus a conversation 79 00:04:13,040 --> 00:04:15,720 Speaker 1: with Marty Walsh. Should we speak with the US Labor Secretary? 80 00:04:15,760 --> 00:04:18,359 Speaker 1: Coming up in the nine am hour on Bloomberg Radio 81 00:04:18,400 --> 00:04:21,320 Speaker 1: and Television. Nathan returned to Oil now, and we're seeing 82 00:04:21,360 --> 00:04:24,200 Speaker 1: crude hand for its biggest weekly gain since March, after 83 00:04:24,200 --> 00:04:27,360 Speaker 1: sliding on concerns over a global slowdown. Oil is rallied 84 00:04:27,400 --> 00:04:30,000 Speaker 1: since Opek announced plans for a large production cut and 85 00:04:30,080 --> 00:04:32,360 Speaker 1: checking prices right now and I make screwed. Oil is 86 00:04:32,440 --> 00:04:34,880 Speaker 1: up nine tens of a percent at eighty nine dollars 87 00:04:34,920 --> 00:04:37,279 Speaker 1: twenty one cents of barrel. Brent is up eight tens 88 00:04:37,279 --> 00:04:40,120 Speaker 1: of up presented ninety five dollars seventeen cents. Now, let's 89 00:04:40,120 --> 00:04:42,479 Speaker 1: gets the latest on Elon Musk and Twitter, Karen, there 90 00:04:42,600 --> 00:04:45,799 Speaker 1: is uncertainty creeping into Musk's plans to buy the company. Afterward, 91 00:04:45,880 --> 00:04:49,200 Speaker 1: his offers contingent on a thirteen billion dollar debt financing 92 00:04:49,320 --> 00:04:52,799 Speaker 1: Bloomberg's at Ludlow has more the concern is that Musque 93 00:04:52,800 --> 00:04:56,000 Speaker 1: has this twelve point five billion dollars of debt split 94 00:04:56,080 --> 00:04:58,400 Speaker 1: between a six point five billions all alone, three billion 95 00:04:58,400 --> 00:05:00,840 Speaker 1: of un secured, three billion of security bonds. There's also 96 00:05:00,920 --> 00:05:04,000 Speaker 1: revolving credit line in their times have changed since that 97 00:05:04,120 --> 00:05:06,840 Speaker 1: deal and that package was agreed in April, and so 98 00:05:07,080 --> 00:05:09,840 Speaker 1: I guess the concern in the background is the viability 99 00:05:09,920 --> 00:05:13,000 Speaker 1: of that debt, Bloomberg said. Ludlow says the judges halting 100 00:05:13,040 --> 00:05:15,040 Speaker 1: the court case to allow the deal to close. She 101 00:05:15,080 --> 00:05:18,320 Speaker 1: says if the transaction isn't done by five pm ocs overy, 102 00:05:18,839 --> 00:05:21,679 Speaker 1: new trial dates will be set for November. Now shares 103 00:05:21,680 --> 00:05:24,440 Speaker 1: a Twitter rosen lie trading yesterday right now they are 104 00:05:24,440 --> 00:05:27,320 Speaker 1: a little changed and see him a corporate news now, Nathan. 105 00:05:27,360 --> 00:05:29,920 Speaker 1: We're seeing possible signs of a bigger downturn in tech. 106 00:05:30,240 --> 00:05:33,040 Speaker 1: Chipmakers are warning of slowing demand, Samsung and a m 107 00:05:33,120 --> 00:05:35,880 Speaker 1: D reporting earnings within hours of each other that widely 108 00:05:35,960 --> 00:05:39,799 Speaker 1: missed estimates. The numbers come after Micron technology slash spending 109 00:05:39,880 --> 00:05:43,800 Speaker 1: and output in hopes of stabilizing plunging prices, and Amazon's 110 00:05:43,800 --> 00:05:46,720 Speaker 1: abandoning its home delivery robot Karen just the latest cut 111 00:05:46,800 --> 00:05:50,359 Speaker 1: to its experimental projects. Bloomberg's Charlie Pellett has that story. 112 00:05:50,720 --> 00:05:53,159 Speaker 1: It is the latest signed that the e commerce giant 113 00:05:53,320 --> 00:05:57,679 Speaker 1: is starting to wind down experimental projects amidst slowing sales growth. 114 00:05:58,120 --> 00:06:01,920 Speaker 1: According to a source, work on Scout, an autonomous machine 115 00:06:02,040 --> 00:06:05,279 Speaker 1: launched about three years ago, has already been halted. An 116 00:06:05,320 --> 00:06:09,200 Speaker 1: Amazon spokesperson said the Scout team was being disbanded and 117 00:06:09,320 --> 00:06:12,720 Speaker 1: would be offered new jobs in the organization. A source 118 00:06:12,760 --> 00:06:15,800 Speaker 1: says about four hundred people were working on the project 119 00:06:15,839 --> 00:06:20,520 Speaker 1: globally in New York. Charlie pelt Bloomberg Daybreak Right, Charlie, thanks, 120 00:06:20,640 --> 00:06:23,359 Speaker 1: let's not politics now, and the conflict in Ukraine. President 121 00:06:23,440 --> 00:06:25,880 Speaker 1: Biden weighed in on the war at a fundraiser in 122 00:06:25,960 --> 00:06:28,760 Speaker 1: New York, expressing concern of our Vladimir Putin's threats to 123 00:06:28,839 --> 00:06:31,760 Speaker 1: use nuclear weapons. Biden called the threats real and says 124 00:06:31,800 --> 00:06:34,080 Speaker 1: the US is trying to find an off ramp for Putin. 125 00:06:34,400 --> 00:06:37,320 Speaker 1: Biden warrants that if Putin deployed nuclear weapons, it could 126 00:06:37,440 --> 00:06:40,760 Speaker 1: lead to armageddon now. The President's also making announcements back 127 00:06:40,800 --> 00:06:42,600 Speaker 1: here at Home Care, and earlier in the day, he 128 00:06:42,680 --> 00:06:46,280 Speaker 1: announced a pardon for any American convicted of simple marijuana 129 00:06:46,320 --> 00:06:49,440 Speaker 1: possession under the law. Too many lives have been upended 130 00:06:49,480 --> 00:06:52,400 Speaker 1: because of our failed approach to marijuana. It's time that 131 00:06:52,520 --> 00:06:55,560 Speaker 1: we right these wrong. President Biden's all surging governors to 132 00:06:55,600 --> 00:06:59,839 Speaker 1: issue similar partons for state offenses involving marijuana. Sp futures 133 00:06:59,880 --> 00:07:02,320 Speaker 1: are down one point right now. DAL futures are up 134 00:07:02,360 --> 00:07:05,880 Speaker 1: forty two. Nastack futures are down forty two points ten. 135 00:07:05,960 --> 00:07:08,600 Speaker 1: Your treasuries down four thirty seconds, you know three four 136 00:07:09,040 --> 00:07:13,200 Speaker 1: Imex screwed up nine tenths percent at one barrel bitcoin 137 00:07:13,320 --> 00:07:16,080 Speaker 1: right around twenty thous dollars. Straight ahead your latest local 138 00:07:16,120 --> 00:07:23,240 Speaker 1: headlines in the check of sports. This is Bloomberg and 139 00:07:23,400 --> 00:07:25,440 Speaker 1: it is now six so seven on Wall Street, sixty 140 00:07:25,480 --> 00:07:28,080 Speaker 1: one degrees in Central Park. It is having both ways 141 00:07:28,120 --> 00:07:30,480 Speaker 1: of the white Stone Bridge with an accident. Queen's bound 142 00:07:30,760 --> 00:07:33,160 Speaker 1: details count up in traffic. First Michael Barr with what 143 00:07:33,240 --> 00:07:35,520 Speaker 1: else is going on in New York and around the world. Michael, 144 00:07:35,600 --> 00:07:37,960 Speaker 1: thank you very much, Nathan. Authorities in New York City State, 145 00:07:38,000 --> 00:07:40,920 Speaker 1: ten people were injured, including two young children, when a 146 00:07:41,000 --> 00:07:44,760 Speaker 1: police cruiser collided with another vehicle and crashed onto a sidebook. 147 00:07:45,120 --> 00:07:48,440 Speaker 1: It happened yesterday afternoon in the Bronx at Westchester and 148 00:07:48,560 --> 00:07:52,280 Speaker 1: who Avenues. NYPD Chief of Patrol Jeffrey Madre has said 149 00:07:52,280 --> 00:07:54,920 Speaker 1: the patrol car was responding to a call and trying 150 00:07:54,960 --> 00:07:57,040 Speaker 1: to get around a vehicle at an intersection when the 151 00:07:57,080 --> 00:08:00,280 Speaker 1: crash happened. The officers crossed over the double yellow to 152 00:08:00,360 --> 00:08:03,720 Speaker 1: go around the vehicle, but the vehicle made a left 153 00:08:03,760 --> 00:08:08,280 Speaker 1: hand term, at which point the department vehicle and a 154 00:08:08,360 --> 00:08:12,440 Speaker 1: sevil the civilian vehicle, they clicked each other. The m 155 00:08:12,480 --> 00:08:14,600 Speaker 1: I p d. S. Jeffrey Madre says there are no 156 00:08:14,760 --> 00:08:17,680 Speaker 1: major injuries. Officials in New York are looking at their 157 00:08:17,720 --> 00:08:20,400 Speaker 1: next options after a federal judge struck down the stage 158 00:08:20,480 --> 00:08:24,520 Speaker 1: new law banning guns in certain public places. The law 159 00:08:24,680 --> 00:08:27,280 Speaker 1: was created in response to a Supreme Court ruling striking 160 00:08:27,320 --> 00:08:29,840 Speaker 1: down another New York law that restricted who could own 161 00:08:29,880 --> 00:08:32,880 Speaker 1: a gun and extremist groupie. There is now the first 162 00:08:32,960 --> 00:08:37,160 Speaker 1: plead guilty to seditious conspiracy in the January sixth attack. 163 00:08:37,520 --> 00:08:39,920 Speaker 1: A senior member of the Proud Boys admitted to planning 164 00:08:39,960 --> 00:08:43,280 Speaker 1: a violent assault on the Capitol days before the January 165 00:08:43,400 --> 00:08:47,600 Speaker 1: six insurrection. Jeremy Bertino has agreed to cooperate with federal 166 00:08:47,679 --> 00:08:51,440 Speaker 1: investigators a gruesome crime on the Las Vegas Strip where 167 00:08:51,440 --> 00:08:54,760 Speaker 1: police say eight people were stabbed in an unprovoked attack. 168 00:08:54,920 --> 00:08:58,000 Speaker 1: At least two of the victims died. Las Vegas Metropolitan 169 00:08:58,080 --> 00:09:02,319 Speaker 1: Police Deputy Chief James Labroschell that stabbing occurs quickly and 170 00:09:02,400 --> 00:09:07,120 Speaker 1: the suspects subsequently goes a southbound on the sidewalk area 171 00:09:07,280 --> 00:09:11,360 Speaker 1: and the staffs additional victims. H five victims there and 172 00:09:11,760 --> 00:09:14,480 Speaker 1: um uh there was an additional victim on the south 173 00:09:14,559 --> 00:09:18,199 Speaker 1: side of sands. Also, Deputy Chief La Rochelle says a 174 00:09:18,280 --> 00:09:22,120 Speaker 1: suspect is in custody. Human rights and democracy worldwide where 175 00:09:22,160 --> 00:09:24,559 Speaker 1: at the heart of this year's Nobel Peace Prize. The 176 00:09:24,640 --> 00:09:29,040 Speaker 1: winners are a jailed Belarus activists, Russian human rights organization 177 00:09:29,120 --> 00:09:32,280 Speaker 1: and the Ukrainian Civil Liberties group. Barat Reese Anderson is 178 00:09:32,320 --> 00:09:36,840 Speaker 1: the chair of the Norwegian Nobel Committee. Alvis B. Elliotsky 179 00:09:37,480 --> 00:09:42,280 Speaker 1: was one of the initiators of the democracy movement that 180 00:09:42,720 --> 00:09:48,040 Speaker 1: emerged in Belarus in the mid nine eighties. Blatsky, the 181 00:09:48,320 --> 00:09:52,160 Speaker 1: Russian group Memorial, and the Ukrainian organizations Center for Civil 182 00:09:52,240 --> 00:09:55,160 Speaker 1: Liberties will share the prize. Global News twenty four hours 183 00:09:55,200 --> 00:09:57,559 Speaker 1: a day on air and on Bloomberg Quick Take, powered 184 00:09:57,600 --> 00:10:00,360 Speaker 1: by more than twenty seven journalists and that listed more 185 00:10:00,360 --> 00:10:04,240 Speaker 1: than twenty countries. Michael Bart, this is Bloomberg, Na. Michael, 186 00:10:04,280 --> 00:10:11,079 Speaker 1: thanks almost sixth ten on Wall Street time for the 187 00:10:11,080 --> 00:10:14,240 Speaker 1: Bloomberg Sports Update with John Stas show. Thanks Day. It's 188 00:10:14,280 --> 00:10:16,040 Speaker 1: the game the Mets did not want to play, did 189 00:10:16,080 --> 00:10:18,000 Speaker 1: not think they were gonna have to play for most 190 00:10:18,080 --> 00:10:20,960 Speaker 1: of the season, but they finished tied for first with Atlanta, 191 00:10:21,000 --> 00:10:23,599 Speaker 1: who won the season series ten to nine. Unless the 192 00:10:23,640 --> 00:10:26,040 Speaker 1: Braids sitting home today and the Mets getting ready to 193 00:10:26,040 --> 00:10:28,280 Speaker 1: play Game one of the best of three Wild Cards 194 00:10:28,320 --> 00:10:31,640 Speaker 1: series at City Field with San Diego Max Sers will 195 00:10:31,640 --> 00:10:33,440 Speaker 1: be on the mountain for the Mets. You're just anxious 196 00:10:33,480 --> 00:10:34,920 Speaker 1: to get out there. You're anxious to go out there 197 00:10:34,920 --> 00:10:37,400 Speaker 1: and compete. Uh, you know, everything's on the line, win 198 00:10:37,520 --> 00:10:40,319 Speaker 1: or go home. Um, you know that's the id you 199 00:10:40,360 --> 00:10:41,800 Speaker 1: have to have. You have to win. I mean, you 200 00:10:41,840 --> 00:10:43,679 Speaker 1: get in the postseason and every day it feels like 201 00:10:43,720 --> 00:10:46,280 Speaker 1: it must win that you know, must win game. Um, 202 00:10:46,760 --> 00:10:49,640 Speaker 1: whether it's an elimination game or not. He always choked 203 00:10:49,720 --> 00:10:51,720 Speaker 1: up part like we got t wins today. You Darvis 204 00:10:51,800 --> 00:10:53,760 Speaker 1: starts with the Padres, who won the season series with 205 00:10:53,800 --> 00:10:56,120 Speaker 1: the Mets sport to two. The geek tonight comes after 206 00:10:56,280 --> 00:10:58,719 Speaker 1: three day games started with Tampa Bay and Cleveland. The 207 00:10:58,720 --> 00:11:00,880 Speaker 1: winner of that series then face is the Yankees. The 208 00:11:00,960 --> 00:11:04,400 Speaker 1: Phillies play in St. Louis, Seattle is in Toronto, NFL, 209 00:11:04,440 --> 00:11:08,600 Speaker 1: and Denver went to overtime. There were twelve punts, ten sacks, 210 00:11:08,760 --> 00:11:12,760 Speaker 1: four interceptions and no touchdowns. Indianapolis kit core field goals. 211 00:11:12,800 --> 00:11:15,520 Speaker 1: The Broncos had three. Indy held on at the end 212 00:11:15,600 --> 00:11:17,559 Speaker 1: one twelve to nine to get its second one of 213 00:11:17,559 --> 00:11:19,480 Speaker 1: the year. Denver dropped to two and three. Russell Wilson 214 00:11:19,559 --> 00:11:22,400 Speaker 1: has struggled with his new team. Landon Collins back with 215 00:11:22,520 --> 00:11:25,160 Speaker 1: his old top team three time Pro Bowl safety while 216 00:11:25,200 --> 00:11:28,079 Speaker 1: with the Giants, then signed as a free agent with Washington. 217 00:11:28,240 --> 00:11:30,959 Speaker 1: Collins was unsigned and though he won't play Sunday, he 218 00:11:31,040 --> 00:11:34,040 Speaker 1: did fly with his new teammates to London for Sunday's 219 00:11:34,120 --> 00:11:37,160 Speaker 1: game with Green Bay preseason last night, Islanders beat the 220 00:11:37,200 --> 00:11:40,319 Speaker 1: Devils five to two. Season starts next week and at Barkley's. 221 00:11:40,400 --> 00:11:42,480 Speaker 1: Then Nets got blown out by the heat in Miami 222 00:11:42,559 --> 00:11:45,679 Speaker 1: one by twenty nine. John Stashi went Bloomberg Sports nuthan, 223 00:11:45,920 --> 00:11:48,520 Speaker 1: thank you John. SMP future is now up one point 224 00:11:49,240 --> 00:11:52,280 Speaker 1: sal features up sixty four now nastack Future still lower 225 00:11:52,360 --> 00:11:54,880 Speaker 1: by thirty points ten. Your treasuries down three thirty seconds. 226 00:11:54,920 --> 00:11:59,040 Speaker 1: Heal three point eight three percent ahead of September pay rolls, 227 00:11:59,720 --> 00:12:03,240 Speaker 1: We've preview the jobs numbers. Next with Bloomberg's Michael McKee. 228 00:12:03,400 --> 00:12:09,920 Speaker 1: This is Bloomberg Bloomberg eleven three oh weather sunny pleasant today, 229 00:12:09,960 --> 00:12:13,079 Speaker 1: high your seventy five degrees, Lots of sunshine tomorrow, but 230 00:12:13,120 --> 00:12:16,120 Speaker 1: it's gonna be cooler, only near sixty. We'll get into 231 00:12:16,160 --> 00:12:18,439 Speaker 1: the low sixties by Sunday. Right now sixty one in 232 00:12:18,520 --> 00:12:24,960 Speaker 1: Central Park Markets, headlines and breaking news twenty four hours 233 00:12:25,000 --> 00:12:28,199 Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business Outland, 234 00:12:28,320 --> 00:12:38,120 Speaker 1: at Bloomberg Quicktape. He's a Bloomberg Business Flash and I'm 235 00:12:38,200 --> 00:12:42,120 Speaker 1: Karen Moscow. US Dock Index futures, well they are. They've 236 00:12:42,120 --> 00:12:44,880 Speaker 1: been moving around a bit this morning. SMP futures were 237 00:12:44,880 --> 00:12:47,240 Speaker 1: a little change and now they're lower again. Ahead of 238 00:12:47,240 --> 00:12:49,640 Speaker 1: the latest payrolls or board. Investors will be looking for 239 00:12:49,679 --> 00:12:52,160 Speaker 1: clues on the monetary policy path. If you check the 240 00:12:52,200 --> 00:12:55,079 Speaker 1: markets every fifteen minutes. Throughout the trading day on Bloomberg, 241 00:12:55,600 --> 00:12:58,720 Speaker 1: SNP futures down down about five points down. Futures remain 242 00:12:58,800 --> 00:13:01,760 Speaker 1: higher up twenty three and nasdays futures are down fifty 243 00:13:02,120 --> 00:13:04,360 Speaker 1: The decks in Germany is down a tenth of upper cent. 244 00:13:04,440 --> 00:13:06,719 Speaker 1: Ten year treasury down four thirty seconds. You have three 245 00:13:06,720 --> 00:13:08,600 Speaker 1: point eight four percent the yield on the two year 246 00:13:08,679 --> 00:13:11,559 Speaker 1: four point to seven percent. NIMEX screwed oil is of 247 00:13:11,720 --> 00:13:13,720 Speaker 1: nine tenths of upper cent of seventy nine cents at 248 00:13:13,720 --> 00:13:16,439 Speaker 1: eighty nine dollars, twenty four cents of barrel Comex school 249 00:13:16,440 --> 00:13:19,120 Speaker 1: down a quarter percent or four dollars is seventeen sixteen 250 00:13:19,200 --> 00:13:22,360 Speaker 1: eighty announce the euro point nine seven nine six against 251 00:13:22,400 --> 00:13:24,920 Speaker 1: the dollar British found one point one to one and 252 00:13:25,040 --> 00:13:27,320 Speaker 1: again one forty four point nine too. And look at 253 00:13:27,360 --> 00:13:30,880 Speaker 1: a bitcoin, it's down sixtensive percent at nineteen thousand, nine 254 00:13:30,960 --> 00:13:33,760 Speaker 1: hundred dollars. That's a Bloomberg business flash. Now here's Michael 255 00:13:33,800 --> 00:13:36,240 Speaker 1: Barr with more on what's going on around the world. Michael, 256 00:13:36,920 --> 00:13:39,199 Speaker 1: thank you very much, Darren. President Joe Biden says the 257 00:13:39,280 --> 00:13:42,680 Speaker 1: risk of nuclear arma GEDTTON is at the highest level 258 00:13:42,760 --> 00:13:46,720 Speaker 1: since the nineteen sixty two Cuban missile crisis. President Biden's 259 00:13:46,760 --> 00:13:50,360 Speaker 1: comments come as Russian officials speak of the possibility of 260 00:13:50,480 --> 00:13:54,560 Speaker 1: using tactical nuclear weapons in the eight month invasion of Ukraine. 261 00:13:54,960 --> 00:13:58,240 Speaker 1: A jailed Belarusian human rights advocate won the Nobel Peace 262 00:13:58,320 --> 00:14:01,959 Speaker 1: Prize this year, along with two organizations that protect civil 263 00:14:02,120 --> 00:14:07,080 Speaker 1: society in Russia and Ukraine. Alice being Latsky from Belarus 264 00:14:07,320 --> 00:14:11,679 Speaker 1: Memorial of Russia and Ukraine Center for Civil Liberties were 265 00:14:11,720 --> 00:14:14,480 Speaker 1: awarded the prize today. In baseball, the Mats and the 266 00:14:14,520 --> 00:14:18,960 Speaker 1: Padres start their wild card playoff series tonight. Thursday Night Football, 267 00:14:19,000 --> 00:14:21,480 Speaker 1: the Colts beat the Broncos twelve nine in a game 268 00:14:21,560 --> 00:14:25,560 Speaker 1: where no touchdowns were scored. Global News twenty four hours 269 00:14:25,600 --> 00:14:28,480 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 270 00:14:28,560 --> 00:14:31,200 Speaker 1: more than twenty seven hundred journalists and analyists more than 271 00:14:31,200 --> 00:14:34,680 Speaker 1: a hundred twenty countries. Michael bar this is Bloomberg, Nathan, 272 00:14:34,800 --> 00:14:37,280 Speaker 1: Thanks Michael, six nineteen on Wall Street Life from the 273 00:14:37,360 --> 00:14:41,760 Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. As we 274 00:14:41,920 --> 00:14:45,320 Speaker 1: keep score on this labor market, we get some very 275 00:14:45,480 --> 00:14:47,560 Speaker 1: key numbers in just a couple hours. Here with the 276 00:14:47,640 --> 00:14:50,640 Speaker 1: release of the September payrolls report. Ahead of that, we're 277 00:14:50,760 --> 00:14:54,600 Speaker 1: joined this morning by Bloomberg Global Economics and Policy correspondent 278 00:14:54,920 --> 00:14:57,520 Speaker 1: Michael McKee. Mike, good morning. Of course, the Fed is 279 00:14:57,600 --> 00:15:00,800 Speaker 1: trying to soften this labor market. What kind of evidence 280 00:15:01,040 --> 00:15:03,600 Speaker 1: of that softening are we expecting? Are we going to 281 00:15:03,720 --> 00:15:08,040 Speaker 1: get it this morning? Well, attention to the second question. First, 282 00:15:08,120 --> 00:15:11,560 Speaker 1: I don't know. Um, we'll find out at a thirty, 283 00:15:12,400 --> 00:15:16,000 Speaker 1: but what they're looking for is a slowdown in the 284 00:15:16,080 --> 00:15:19,600 Speaker 1: pace of hiring, not collapse, but a slowdown in The 285 00:15:19,800 --> 00:15:24,800 Speaker 1: bloomar consensus for two thousand jobs would meet that target. 286 00:15:25,120 --> 00:15:26,760 Speaker 1: They do think it will take a little bit longer 287 00:15:26,840 --> 00:15:29,240 Speaker 1: for the unemployment rate to start going up because there 288 00:15:29,720 --> 00:15:32,480 Speaker 1: are so many job openings that people who lose their 289 00:15:32,560 --> 00:15:36,920 Speaker 1: jobs can find another job. One interesting thing to watch 290 00:15:37,080 --> 00:15:41,160 Speaker 1: today will be whether we see any kind of similar 291 00:15:42,400 --> 00:15:45,160 Speaker 1: move into the labor force. We got seven hundred and 292 00:15:45,720 --> 00:15:48,680 Speaker 1: eight six thousand people who came into the labor force 293 00:15:48,760 --> 00:15:51,680 Speaker 1: in August, which is an extraordinary number. Um. I don't 294 00:15:51,720 --> 00:15:53,800 Speaker 1: think that will happen again, but if we do see that, 295 00:15:54,000 --> 00:15:57,280 Speaker 1: that could push the unemployment rate lower. Now, because we have, 296 00:15:57,480 --> 00:16:01,120 Speaker 1: of course seen some pretty up big upside surprises on 297 00:16:01,360 --> 00:16:03,920 Speaker 1: payrolls in the last couple of months. Here is that 298 00:16:04,000 --> 00:16:08,600 Speaker 1: a possibility still that we could get an outsized payrolls 299 00:16:08,680 --> 00:16:12,040 Speaker 1: number this morning. Definitely a possibility, and there is a 300 00:16:13,120 --> 00:16:15,480 Speaker 1: feeling among some on Wall Street that that's what we're 301 00:16:15,480 --> 00:16:19,320 Speaker 1: going to get. Uh. They see strength in in a 302 00:16:19,400 --> 00:16:23,280 Speaker 1: lot of the numbers that go into your guests about 303 00:16:23,360 --> 00:16:26,560 Speaker 1: what payrolls are going to be. That would probably scare 304 00:16:26,600 --> 00:16:29,520 Speaker 1: the pants off the markets, though, because then they start 305 00:16:29,640 --> 00:16:32,680 Speaker 1: with the theme of the FED higher for longer. It 306 00:16:32,760 --> 00:16:35,720 Speaker 1: depends on how much it is. We have seen payrolls 307 00:16:35,760 --> 00:16:39,320 Speaker 1: come in higher than forecast for the past five months, 308 00:16:39,840 --> 00:16:42,320 Speaker 1: but they have sequentially for the most part, been down 309 00:16:42,440 --> 00:16:46,200 Speaker 1: in four of the five months. So if that continues, uh, 310 00:16:46,640 --> 00:16:49,240 Speaker 1: then the Fed is happy even if it's a little 311 00:16:49,320 --> 00:16:52,200 Speaker 1: bit above two fifty five. But if it's a lot 312 00:16:52,440 --> 00:16:55,160 Speaker 1: we go well into the threes, then there is going 313 00:16:55,200 --> 00:16:58,160 Speaker 1: to be concerned that the Fed's medicine isn't working yet. Now. 314 00:16:58,560 --> 00:17:02,480 Speaker 1: The medicine, of course, is to get inflation down, but 315 00:17:02,960 --> 00:17:06,080 Speaker 1: of course the FED also has a dual mandata price 316 00:17:06,119 --> 00:17:11,320 Speaker 1: stability and maximum employment. It's a tricky balance for this 317 00:17:11,480 --> 00:17:15,000 Speaker 1: Federal Reserve to strike it is, and the hard part 318 00:17:15,040 --> 00:17:17,520 Speaker 1: for the FED is this is a labor market that 319 00:17:17,640 --> 00:17:21,720 Speaker 1: has been very tight and companies have still been looking 320 00:17:21,800 --> 00:17:24,320 Speaker 1: for workers. Now we're starting to see some of the 321 00:17:24,400 --> 00:17:28,280 Speaker 1: job vacancies go away, and some companies are putting any 322 00:17:28,400 --> 00:17:32,080 Speaker 1: hiring plans on hold, but there's still a lot of companies, 323 00:17:32,119 --> 00:17:35,600 Speaker 1: particularly in leisure and hospitality, who haven't been able to 324 00:17:35,680 --> 00:17:39,040 Speaker 1: fill all the jobs that they had coming out of 325 00:17:39,080 --> 00:17:42,320 Speaker 1: the pandemic, who might still be looking to add workers. 326 00:17:42,800 --> 00:17:45,480 Speaker 1: So there is a danger that we could see stronger 327 00:17:45,560 --> 00:17:49,600 Speaker 1: than expected job growth, and that raises the possibility of 328 00:17:49,760 --> 00:17:52,760 Speaker 1: stronger than expected wage growth as well. Is that something 329 00:17:52,800 --> 00:17:55,560 Speaker 1: else you're looking out for. That's something else we're watching. 330 00:17:55,600 --> 00:17:58,240 Speaker 1: The FAT, of course, wants to see, uh the average 331 00:17:58,280 --> 00:18:01,040 Speaker 1: hourly earnings on a year over year basis start to 332 00:18:01,359 --> 00:18:03,800 Speaker 1: fall back a little bit, not because they don't want 333 00:18:03,840 --> 00:18:05,560 Speaker 1: you to get paid, but they don't want to wage 334 00:18:05,640 --> 00:18:09,400 Speaker 1: price spiral, and they think that the five percent level 335 00:18:09,440 --> 00:18:14,760 Speaker 1: we're at five point two percent annually last month is unsustainable. 336 00:18:14,840 --> 00:18:17,840 Speaker 1: If you get to three percent, then that's a sustainable level, 337 00:18:17,880 --> 00:18:21,000 Speaker 1: and it would fit with the level of inflation they're 338 00:18:21,040 --> 00:18:24,160 Speaker 1: trying to get to. So they'll be watching that as well, 339 00:18:24,400 --> 00:18:27,720 Speaker 1: and with labor markets still tight, it's very possible we 340 00:18:27,840 --> 00:18:30,760 Speaker 1: see that exceeded. Now. We have, at least in an 341 00:18:30,800 --> 00:18:35,119 Speaker 1: individual car company basis, heard a number of reports of 342 00:18:35,440 --> 00:18:38,440 Speaker 1: layoffs coming in. Is that something that we could see 343 00:18:38,520 --> 00:18:40,280 Speaker 1: play out in the data we've got about a minute 344 00:18:40,320 --> 00:18:44,360 Speaker 1: left hand, Probably not so much. The number of companies 345 00:18:44,480 --> 00:18:47,639 Speaker 1: who uh layoff people every month is very large. We 346 00:18:47,720 --> 00:18:49,520 Speaker 1: see a big churn in the labor force, it's the 347 00:18:49,640 --> 00:18:53,880 Speaker 1: net number that matters, and we haven't seen huge layoffs. 348 00:18:54,000 --> 00:18:57,480 Speaker 1: We've just seen some, as you say, individual companies letting 349 00:18:57,520 --> 00:19:00,520 Speaker 1: people go. More companies have said perhaps that they're not 350 00:19:00,680 --> 00:19:04,800 Speaker 1: going to add anybody, but not uh, not fire anybody. 351 00:19:05,119 --> 00:19:07,000 Speaker 1: That's kind of the next stage of things, which we 352 00:19:07,119 --> 00:19:09,840 Speaker 1: might not see until next year. Thanks, Mike'll let you 353 00:19:09,920 --> 00:19:11,600 Speaker 1: go get your wheaties. We know you'll be busy in 354 00:19:11,600 --> 00:19:14,120 Speaker 1: the next couple hours here when those numbers come down 355 00:19:14,240 --> 00:19:17,480 Speaker 1: eight thirty am. Wall Street Time, Bloomberg Global Economics and 356 00:19:17,600 --> 00:19:21,000 Speaker 1: Policy correspondent Michael McKee will be back with us on 357 00:19:21,040 --> 00:19:24,080 Speaker 1: Bloomberg Radio and Television to break down those numbers, and 358 00:19:24,240 --> 00:19:27,560 Speaker 1: we will have analysis for you throughout the morning, including 359 00:19:27,640 --> 00:19:30,720 Speaker 1: reaction from Labor Secretary Marty Wall. She's gonna join us 360 00:19:31,000 --> 00:19:34,440 Speaker 1: in the nine am hour following the release of September payrolls. 361 00:19:34,760 --> 00:19:37,520 Speaker 1: Tune back in for that conversation here on Bloomberg Radio, 362 00:19:37,560 --> 00:19:40,399 Speaker 1: or you can watch it as we say on Bloomberg Television. 363 00:19:40,800 --> 00:19:44,840 Speaker 1: Looking ahead to the market open Mixed action SMP futures 364 00:19:44,880 --> 00:19:49,200 Speaker 1: down five points, STOW futures up twenty two NASDAC Future 365 00:19:49,280 --> 00:19:51,600 Speaker 1: is moving lower, down fifty one point in the tenure 366 00:19:51,640 --> 00:19:54,640 Speaker 1: Treasury is down five thirty seconds, yield three point eight 367 00:19:54,760 --> 00:19:59,680 Speaker 1: four per cent. You're listening to Bloomberg Daybreak on this 368 00:20:00,200 --> 00:20:09,399 Speaker 1: jobs Friday morning, Bloomberg eleven three oh weather, sunshine in 369 00:20:09,440 --> 00:20:11,800 Speaker 1: a high near seventy five degrees to end this week, 370 00:20:11,880 --> 00:20:14,880 Speaker 1: It's gonna be cooler, still sunny for the weekend. High 371 00:20:14,920 --> 00:20:18,679 Speaker 1: near sixty tomorrow, low sixties on Sunday sixty one. Right 372 00:20:18,720 --> 00:20:24,639 Speaker 1: now in Central Park Markets, headlines and breaking news twenty 373 00:20:24,680 --> 00:20:27,480 Speaker 1: four hours a day at Bloomberg dot Com, to Bloomberg 374 00:20:27,560 --> 00:20:31,119 Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg 375 00:20:31,200 --> 00:20:39,920 Speaker 1: Business Flash and I'm Karen Moscows and key. Futures that 376 00:20:39,960 --> 00:20:42,560 Speaker 1: will change this morning ahead of this September jobs or four. 377 00:20:42,680 --> 00:20:44,440 Speaker 1: Let's go to the first word Breaking news dance for 378 00:20:44,480 --> 00:20:48,240 Speaker 1: today's morning call, and here's Bill Maloney. Bill, good morning, Hey, 379 00:20:48,440 --> 00:20:51,080 Speaker 1: good morning, Karen. You as futures are trading mixed right now, 380 00:20:51,160 --> 00:20:53,480 Speaker 1: with our futures higher by thirty eight points. Like you said, 381 00:20:53,560 --> 00:20:56,320 Speaker 1: smp s are a little changed. Nastic futures are lower 382 00:20:56,440 --> 00:20:59,320 Speaker 1: by thirty eight the US ten year to three point 383 00:20:59,440 --> 00:21:02,439 Speaker 1: eight four percent, Gold is down three oil is climbing, 384 00:21:02,720 --> 00:21:05,440 Speaker 1: and bigcoin is lower by half a percent. Hong Kong 385 00:21:05,560 --> 00:21:07,919 Speaker 1: fell one and a half percent overnight, while up markets 386 00:21:07,960 --> 00:21:10,440 Speaker 1: are quiet this morning. And back in the US on 387 00:21:10,480 --> 00:21:13,800 Speaker 1: the economic front at the thirty v September jobs report, 388 00:21:14,040 --> 00:21:17,199 Speaker 1: and at ten o'clock, who sell inventories After develous night 389 00:21:17,240 --> 00:21:20,119 Speaker 1: am DS preliminary earning spell short of expectations by more 390 00:21:20,160 --> 00:21:23,000 Speaker 1: than a billion shares, It down five point five percent 391 00:21:23,119 --> 00:21:25,719 Speaker 1: pre market, and on these credit sweet aims to buy 392 00:21:25,760 --> 00:21:29,119 Speaker 1: back three billion worth of debt. Wrapping things up, Goodman 393 00:21:29,160 --> 00:21:33,280 Speaker 1: Sachs was raised to outperform over at KBW Live from 394 00:21:33,320 --> 00:21:36,280 Speaker 1: the first Breaking News. That's scom Bill Maloney, Karen, all right, Bill, thanks, 395 00:21:36,320 --> 00:21:38,840 Speaker 1: and here live breaking news over Bloomberg time, squawk on 396 00:21:38,880 --> 00:21:41,280 Speaker 1: your terminal, s qu A w K and that's a 397 00:21:41,320 --> 00:21:44,040 Speaker 1: Bloomberg business flash. Now here's Michael Barr with more un 398 00:21:44,080 --> 00:21:46,440 Speaker 1: musk going on around the world. Michael Karen, thank you 399 00:21:46,560 --> 00:21:48,920 Speaker 1: very much. President Joe Biden said the US is trying 400 00:21:48,960 --> 00:21:52,440 Speaker 1: to find an off ramp for Russian President Vladimir Putin 401 00:21:52,880 --> 00:21:56,040 Speaker 1: and buries his threats to use tactical nuclear weapons are 402 00:21:56,160 --> 00:21:59,320 Speaker 1: real and could lead to harmageddon. Biden made this comments 403 00:21:59,359 --> 00:22:01,720 Speaker 1: at a fundraise you in New York City. This year's 404 00:22:01,760 --> 00:22:04,960 Speaker 1: Nobel Peace Prize has been awarded to jail Belarus rights 405 00:22:05,000 --> 00:22:10,119 Speaker 1: activists Alice Bielotski, the Russian group Memorial, and the Ukrainian 406 00:22:10,240 --> 00:22:13,960 Speaker 1: Organization Center for Civil Liberties. In baseball, the Mets and 407 00:22:14,080 --> 00:22:17,840 Speaker 1: the Padres start their wild Card playoff series tonight Thursday 408 00:22:17,960 --> 00:22:20,520 Speaker 1: Night Football. The cold speat the broncost twelve nine in 409 00:22:20,600 --> 00:22:24,200 Speaker 1: the game where no touchdowns was scored. Global News twenty 410 00:22:24,240 --> 00:22:27,120 Speaker 1: four hours a day on air and on Bloomberg Quick Take, 411 00:22:27,400 --> 00:22:30,520 Speaker 1: powered by more than journalists and analysts more than a 412 00:22:30,600 --> 00:22:34,479 Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg, Karen, right, 413 00:22:34,520 --> 00:22:37,840 Speaker 1: Michael Barr, thank you. It is sixty nine on Wall Street, 414 00:22:37,880 --> 00:22:39,959 Speaker 1: and we turned to news and science and technology Now 415 00:22:40,080 --> 00:22:42,520 Speaker 1: with the Bloomberg n j I T Stammer Report brought 416 00:22:42,560 --> 00:22:45,560 Speaker 1: to you buy New Jersey Institute of Technology, whose n 417 00:22:45,640 --> 00:22:49,240 Speaker 1: j II unit has joined with pharmaceutical giant Murk to 418 00:22:49,440 --> 00:22:53,160 Speaker 1: establish the Murk Digital Sciences Studio to support drug discovery 419 00:22:53,240 --> 00:22:56,240 Speaker 1: and development. More at n j I T dot Edu 420 00:22:56,800 --> 00:22:59,920 Speaker 1: and here's just making news in science, technology, engineering, and math. 421 00:23:00,440 --> 00:23:04,000 Speaker 1: Strong winds carried extreme heat from the western US, Canada 422 00:23:04,160 --> 00:23:07,520 Speaker 1: and the Atlantic Ocean over Greenland in September, bringing average 423 00:23:07,520 --> 00:23:10,879 Speaker 1: temperatures more than eight degrees celsius above the thirty year 424 00:23:10,960 --> 00:23:14,560 Speaker 1: average and causing record i smelt. Almost all of Greenland 425 00:23:14,600 --> 00:23:18,160 Speaker 1: experience the highest average temperatures in any month of September, 426 00:23:18,400 --> 00:23:22,120 Speaker 1: peaking in early September since records started in nineteen seventy nine. 427 00:23:22,680 --> 00:23:25,360 Speaker 1: Google will open its first data center in Japan next 428 00:23:25,480 --> 00:23:27,840 Speaker 1: year as part of increasing investment in the world's third 429 00:23:27,840 --> 00:23:31,600 Speaker 1: biggest economy. The new facility aims to accelerate the operation 430 00:23:31,720 --> 00:23:35,679 Speaker 1: of Google tools and services, support economic activity and jobs, 431 00:23:35,800 --> 00:23:38,359 Speaker 1: and connect Japan with the rest of the global economy. 432 00:23:38,960 --> 00:23:42,520 Speaker 1: And Tesla will deliver its first semitrucks to Pepsi. It 433 00:23:42,640 --> 00:23:46,200 Speaker 1: comes five years after Elon Mush showed off prototypes. Test 434 00:23:46,280 --> 00:23:49,600 Speaker 1: Lee will compete with other makers of battery powered big rigs, 435 00:23:49,680 --> 00:23:53,560 Speaker 1: including relative newcomer Nicola and more established firms like Volvo. 436 00:23:53,960 --> 00:23:57,000 Speaker 1: And that's the Bloomberg and j I t Stem report. Nathan, 437 00:23:57,240 --> 00:24:00,000 Speaker 1: Thanks Karen, We're live from the Bloomberg Interactive Brokers studio. 438 00:24:00,080 --> 00:24:02,240 Speaker 1: Was worth six fifty on Wall Street Time not to 439 00:24:02,320 --> 00:24:04,119 Speaker 1: check what's going on in d C. Some of the 440 00:24:04,160 --> 00:24:07,479 Speaker 1: top stories in our nation's capital include President Biden's warnings 441 00:24:07,560 --> 00:24:10,760 Speaker 1: of the threat of nuclear armageddon from Russia, the President 442 00:24:10,880 --> 00:24:15,800 Speaker 1: issuing a blanket pardon for marijuana convictions, Democrats reeling over 443 00:24:15,840 --> 00:24:19,040 Speaker 1: the OPEC plus decision that threatens their mid term outlook, 444 00:24:19,160 --> 00:24:22,639 Speaker 1: and former President Donald Trump's superPAC now buying ads for 445 00:24:22,720 --> 00:24:26,359 Speaker 1: the first time. And key Senate raceist. Bloomberg Government reporter 446 00:24:26,440 --> 00:24:29,119 Speaker 1: Emily Wilkins is here now for more on all of 447 00:24:29,200 --> 00:24:33,120 Speaker 1: these stories. Emily, some very stark words on Russia last 448 00:24:33,200 --> 00:24:37,119 Speaker 1: night from President Biden at that fundraiser. Yeah, Biden is 449 00:24:37,240 --> 00:24:39,560 Speaker 1: really saying that he's trying to find what he's calling 450 00:24:39,600 --> 00:24:43,280 Speaker 1: an off ramp for Putin. He's concerned about the Russian 451 00:24:43,359 --> 00:24:46,240 Speaker 1: leaders discussion of these using nuclear weapons and is trying 452 00:24:46,280 --> 00:24:48,760 Speaker 1: to find some way to de escalate that before it 453 00:24:48,840 --> 00:24:51,159 Speaker 1: gets to that point. Nathan, this is a little bit 454 00:24:51,160 --> 00:24:53,240 Speaker 1: different than what we've heard in the past from the 455 00:24:53,440 --> 00:24:57,120 Speaker 1: Obama sorry, from the Biden administration. We've heard National Security 456 00:24:57,160 --> 00:25:00,119 Speaker 1: Advisor Jake Selivan say last week that Putin's common it's 457 00:25:00,119 --> 00:25:03,000 Speaker 1: on nuclear weapons. Were just another similar comment in a 458 00:25:03,160 --> 00:25:06,600 Speaker 1: long line of remarks he's made since February. But Biden 459 00:25:06,680 --> 00:25:09,480 Speaker 1: seems to be taking the comments a little bit more seriously. 460 00:25:10,040 --> 00:25:14,240 Speaker 1: We've obviously obviously seen the Russian military struggle a lot 461 00:25:14,480 --> 00:25:17,600 Speaker 1: in recent weeks, and we've seen and that could potentially 462 00:25:17,720 --> 00:25:21,440 Speaker 1: lead to Puten looking re looking at that potential threat 463 00:25:21,480 --> 00:25:24,119 Speaker 1: of nuclear weapons. It seems like it's something that that 464 00:25:24,280 --> 00:25:26,960 Speaker 1: Biden is taking seriously. He's not taking off the table 465 00:25:27,000 --> 00:25:29,680 Speaker 1: at this point. And it also raises real questions about 466 00:25:29,760 --> 00:25:33,879 Speaker 1: exactly how the Russian War Russian Ukrainian War is going 467 00:25:33,960 --> 00:25:36,400 Speaker 1: to be ending at this point. The US has continued 468 00:25:36,480 --> 00:25:41,160 Speaker 1: to pledge military assistance funding for Ukraine, but I think 469 00:25:41,200 --> 00:25:45,800 Speaker 1: there's also a real question as to what exactly comes 470 00:25:45,880 --> 00:25:48,280 Speaker 1: next and how this ends. Yeah, I want to get 471 00:25:48,320 --> 00:25:50,399 Speaker 1: into that a little bit. What are some of the 472 00:25:50,480 --> 00:25:54,400 Speaker 1: potential off ramps here, given that the war is intense 473 00:25:54,480 --> 00:25:57,120 Speaker 1: to find that Ukraine is making this counter offensive here 474 00:25:57,160 --> 00:26:00,639 Speaker 1: and continuing to get billions in aid for the US 475 00:26:00,800 --> 00:26:05,240 Speaker 1: and the NATO allies as well. I mean, the US 476 00:26:05,280 --> 00:26:08,239 Speaker 1: does feel pretty good about how Ukreate is responding at 477 00:26:08,320 --> 00:26:11,119 Speaker 1: this point because of recent victories. We've seen them, note, 478 00:26:11,640 --> 00:26:14,639 Speaker 1: pushing Russians out of territory that they were trying to 479 00:26:14,800 --> 00:26:18,000 Speaker 1: annext making a lot of games in the country, and 480 00:26:18,119 --> 00:26:19,960 Speaker 1: so I feel like there is a sense that things 481 00:26:20,040 --> 00:26:23,320 Speaker 1: are turning in favor of the Ukrainians at this point, 482 00:26:23,400 --> 00:26:25,879 Speaker 1: but of course Russia is still in the country, they 483 00:26:25,880 --> 00:26:28,879 Speaker 1: are still using attacks, and they have a bit of 484 00:26:28,960 --> 00:26:31,400 Speaker 1: a ways to go at this point until we see 485 00:26:31,440 --> 00:26:34,680 Speaker 1: any sort of resolution for this conflict. Another, of course, 486 00:26:34,760 --> 00:26:37,479 Speaker 1: key thing to be watching is the sentiment within Russia. 487 00:26:37,600 --> 00:26:41,320 Speaker 1: We have seen protests from the Russian people concerned about 488 00:26:41,440 --> 00:26:44,280 Speaker 1: the military of the draft um how young men are 489 00:26:44,320 --> 00:26:46,960 Speaker 1: being recruited for the army at this point, and so 490 00:26:47,119 --> 00:26:49,439 Speaker 1: I think those are both really big factors to keep 491 00:26:49,480 --> 00:26:51,720 Speaker 1: an eye on when we consider what the future of 492 00:26:51,800 --> 00:26:56,480 Speaker 1: this conflict is. Of course, as geopolitics, continue to intensify. 493 00:26:56,600 --> 00:26:59,919 Speaker 1: We got this really interesting announcement, a big move from 494 00:27:00,040 --> 00:27:04,800 Speaker 1: the president on marijuana policy. Yeah, Biden has taken some 495 00:27:04,880 --> 00:27:08,159 Speaker 1: big steps on marijuana. This the Bills campaign promise for 496 00:27:08,320 --> 00:27:11,360 Speaker 1: him to really address this issue. And what he's done 497 00:27:11,520 --> 00:27:13,600 Speaker 1: is a couple of different things. The biggest one is 498 00:27:13,640 --> 00:27:17,840 Speaker 1: that he's pardoned all federal offensive for simple possession of marijuana. 499 00:27:18,240 --> 00:27:21,960 Speaker 1: So for the thousands who were charged with a federal crime, 500 00:27:22,359 --> 00:27:25,000 Speaker 1: like convicted of a federal crime of simply just having 501 00:27:25,119 --> 00:27:29,040 Speaker 1: marijuana on their person. Uh, they are now federally pardoned. 502 00:27:29,200 --> 00:27:32,879 Speaker 1: This impacts thousands of people, and Biden encourage governors to 503 00:27:33,000 --> 00:27:36,080 Speaker 1: do the same for state level offenses. Uh. You know, 504 00:27:36,160 --> 00:27:38,800 Speaker 1: Biden said in the statement that people of color have 505 00:27:38,920 --> 00:27:44,639 Speaker 1: been disproportionately arrested, prosecuted, and convicted of crimes dealing with marijuana. Um, 506 00:27:44,840 --> 00:27:47,359 Speaker 1: and that through this he's he's trying to really, uh 507 00:27:47,800 --> 00:27:51,280 Speaker 1: seek to address some of those inequalities in the law. Uh. 508 00:27:51,359 --> 00:27:53,720 Speaker 1: He's also called on his Attorney general to review federal 509 00:27:53,840 --> 00:27:56,879 Speaker 1: laws around marijuana. Now it's not fair how long that 510 00:27:57,040 --> 00:27:59,159 Speaker 1: review is going to be or what could be the 511 00:27:59,280 --> 00:28:01,920 Speaker 1: outcome of it, but certainly, Nathan, we've seen a number 512 00:28:02,000 --> 00:28:06,000 Speaker 1: of states go ahead decriminalized marijuana, allow it for medical reasons, 513 00:28:06,040 --> 00:28:08,879 Speaker 1: allowed for recreational reasons, and this seems to be the 514 00:28:08,960 --> 00:28:11,919 Speaker 1: federal government kind of following the lead of so many states. 515 00:28:12,359 --> 00:28:14,640 Speaker 1: It's hard to ignore the timing of this announcement though, 516 00:28:14,720 --> 00:28:18,160 Speaker 1: emily coming just a month before a mid term election. 517 00:28:19,160 --> 00:28:22,000 Speaker 1: Should we talk about the politics of this move? I mean, 518 00:28:22,040 --> 00:28:24,360 Speaker 1: we can absolutely talk about the politics of this vote. 519 00:28:24,400 --> 00:28:27,160 Speaker 1: I mean, Biden said in his own statement that has 520 00:28:27,200 --> 00:28:30,879 Speaker 1: had a large impact on people of color, on minorities. 521 00:28:30,960 --> 00:28:33,399 Speaker 1: Those are groups that Democrats are very much trying to 522 00:28:33,520 --> 00:28:36,720 Speaker 1: target ahead of the mid terms. They saw in twenty 523 00:28:36,840 --> 00:28:39,880 Speaker 1: twenty that they couldn't take the Hispanic vote for granted. 524 00:28:40,200 --> 00:28:41,960 Speaker 1: The black vote, of course, is a key part of 525 00:28:42,000 --> 00:28:44,360 Speaker 1: the Democratic block, and it's a mid term and so 526 00:28:44,520 --> 00:28:47,480 Speaker 1: getting people to the polls, encouraging them to come out 527 00:28:47,600 --> 00:28:49,760 Speaker 1: and to vote, that's going to be a big part 528 00:28:49,840 --> 00:28:52,880 Speaker 1: of any victory that we see on election night. So 529 00:28:53,080 --> 00:28:55,280 Speaker 1: certainly there there's a little bit with the with the 530 00:28:55,360 --> 00:28:58,560 Speaker 1: timing that phraises an eyebrow and kind of has people asking, 531 00:28:58,680 --> 00:29:01,280 Speaker 1: you know, how much of this is is political and 532 00:29:01,400 --> 00:29:03,920 Speaker 1: how much of this is actually policy? And We got 533 00:29:03,960 --> 00:29:08,320 Speaker 1: some interesting timing as well on former President Donald Trump 534 00:29:08,560 --> 00:29:11,720 Speaker 1: stepping in with money for the first time in some 535 00:29:12,280 --> 00:29:16,520 Speaker 1: heavily contested Senate race. Isn't this mid term? Yeah, Trump 536 00:29:16,640 --> 00:29:19,640 Speaker 1: is a prolific fundraiser, but he hasn't been quite as 537 00:29:19,680 --> 00:29:24,160 Speaker 1: active financially with a lot of these very competitive races. 538 00:29:24,280 --> 00:29:25,840 Speaker 1: And now we see him just a couple of weeks 539 00:29:25,920 --> 00:29:28,960 Speaker 1: before the election starting to put his money where his 540 00:29:29,080 --> 00:29:32,400 Speaker 1: mouth has been, backing candidates that he has endorsed in 541 00:29:32,520 --> 00:29:35,840 Speaker 1: Ohio and Pennsylvania. Of course, that's a doctor Oz in 542 00:29:35,920 --> 00:29:38,680 Speaker 1: Pennsylvania who's reading for Senate, and then j D Vance 543 00:29:38,720 --> 00:29:43,440 Speaker 1: in Ohio trumps book two point one million and advised um. It's, 544 00:29:43,640 --> 00:29:46,160 Speaker 1: you know, kind of an overall drop in the bucket 545 00:29:46,280 --> 00:29:50,440 Speaker 1: for for what we've seen going ahead and being spent um, 546 00:29:50,840 --> 00:29:53,800 Speaker 1: but it's really making a plush and it comes at 547 00:29:53,840 --> 00:29:57,880 Speaker 1: a time where Democrats are actually a little more likely 548 00:29:58,560 --> 00:30:01,200 Speaker 1: to win the control all of the Senate. That's what 549 00:30:01,280 --> 00:30:03,560 Speaker 1: we're seeing from a lot of projections, including a five 550 00:30:03,680 --> 00:30:06,240 Speaker 1: thirty eight UM. But of course at this point it's 551 00:30:06,360 --> 00:30:10,040 Speaker 1: very close. It's still anyone's game, and we're seeing Republicans 552 00:30:10,080 --> 00:30:14,000 Speaker 1: get an advantage, particularly in Pennsylvania. We had seen Democratic 553 00:30:14,080 --> 00:30:17,200 Speaker 1: nominee John Futterman, we have a big lead. Now we're 554 00:30:17,240 --> 00:30:20,160 Speaker 1: seeing doctor Oz cutting into that, really getting up on 555 00:30:20,240 --> 00:30:23,320 Speaker 1: the air, really pushing the issue of crime. Uh and 556 00:30:23,440 --> 00:30:26,240 Speaker 1: that seems to be working out in Republicans favor. And 557 00:30:26,320 --> 00:30:29,040 Speaker 1: Pennsylvania is a is a very key state for Democrats. 558 00:30:29,080 --> 00:30:31,400 Speaker 1: It is their best opportunity to pick up a seat 559 00:30:31,840 --> 00:30:34,840 Speaker 1: uh for the Senate UM and that they would need 560 00:30:34,920 --> 00:30:38,480 Speaker 1: to do that, especially because they are defending seats in 561 00:30:38,600 --> 00:30:42,760 Speaker 1: states like Georgia, uh and in Nevada. Yeah, election days 562 00:30:42,760 --> 00:30:45,840 Speaker 1: getting closer. Thanks for this, Emily. As always, Bloomberg Government 563 00:30:45,960 --> 00:30:50,000 Speaker 1: reporter Emily Wilkins with us in Washington. Read more about 564 00:30:50,080 --> 00:30:53,280 Speaker 1: these stories on Bloomberg dot Com or on the Bloomberg Terminal. 565 00:30:53,600 --> 00:30:57,440 Speaker 1: Listen to Bloomberg Radio in Washington Bloomberg one and one 566 00:30:57,480 --> 00:31:00,600 Speaker 1: oh five point seven FM HD two. You're gonna want 567 00:31:00,600 --> 00:31:02,920 Speaker 1: to keep it right here for the release of September 568 00:31:03,000 --> 00:31:06,160 Speaker 1: payrolls out at eight thirty am, Wall Street time and 569 00:31:06,520 --> 00:31:10,120 Speaker 1: reaction from Labor Secretary Marty Wall She's gonna join us 570 00:31:10,400 --> 00:31:13,560 Speaker 1: in the nine am hour right here on Bloomberg Radio 571 00:31:13,720 --> 00:31:16,840 Speaker 1: and on Bloomberg Television. Head of the market open. SMP 572 00:31:17,000 --> 00:31:20,160 Speaker 1: futures are down two points down futures are up thirty one. 573 00:31:20,680 --> 00:31:24,280 Speaker 1: Nasdaq futures are lower by forty four points. Bloomberg Surveillance 574 00:31:24,440 --> 00:31:27,880 Speaker 1: is next to Tom Keene, Jonathan Faroe, and Lisa Abramowitz. 575 00:31:28,320 --> 00:31:38,000 Speaker 1: For Karen Moscow. I'm Nathan Hagar. This is Bloomberg broadcasting 576 00:31:38,120 --> 00:31:41,800 Speaker 1: live from the Bloomberg Interacted Broker's studio in New York. 577 00:31:41,920 --> 00:31:45,840 Speaker 1: Bloomberg Living Freedom to Washington, d C, Bloomberg nine one 578 00:31:46,000 --> 00:31:49,200 Speaker 1: to Boston, Bloomberg one O six one to San Francisco, 579 00:31:49,280 --> 00:31:52,480 Speaker 1: Bloomberg nine sixteen to the country, Sirius XM to the 580 00:31:52,560 --> 00:31:55,479 Speaker 1: one nine team, and around the globe the Bloomberg Business 581 00:31:55,560 --> 00:31:59,600 Speaker 1: apt and Bloomberg Radio dot Com. This is Bloomberg Daybreak 582 00:32:05,480 --> 00:32:08,000 Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hagar 583 00:32:08,320 --> 00:32:10,480 Speaker 1: and I'm Karen Moscow, and we are just about three 584 00:32:10,520 --> 00:32:12,880 Speaker 1: hours away from the open of US trading. Time for 585 00:32:12,920 --> 00:32:14,880 Speaker 1: the five things you need to notice start your day. 586 00:32:14,920 --> 00:32:17,960 Speaker 1: Brought to you by Interactive Brokers i b k R. 587 00:32:18,080 --> 00:32:20,560 Speaker 1: Event Trader offers a new way to trade futures. Use 588 00:32:20,600 --> 00:32:23,000 Speaker 1: event contracts to trade your opinion on yes or no 589 00:32:23,160 --> 00:32:26,560 Speaker 1: questions in key CME futures markets. Learn more at event 590 00:32:26,640 --> 00:32:30,680 Speaker 1: trader dot Interactive Brokers dot com. Up First, we heard 591 00:32:30,760 --> 00:32:34,720 Speaker 1: hawkish comments from no less than five officials yesterday, including 592 00:32:34,760 --> 00:32:38,480 Speaker 1: Minneapolis FED President Neil cash Cary. I fully expect that 593 00:32:38,560 --> 00:32:41,120 Speaker 1: there are going to be some losses and they're going 594 00:32:41,200 --> 00:32:44,520 Speaker 1: to be some failures around the global economy as we 595 00:32:44,600 --> 00:32:48,160 Speaker 1: transition to a higher interest rate environment, and that's the 596 00:32:48,280 --> 00:32:51,560 Speaker 1: nature of capitalism in Minneapolis, FED President Neil Cash car 597 00:32:51,640 --> 00:32:54,640 Speaker 1: age as a central bank is quite a ways away 598 00:32:54,960 --> 00:32:58,560 Speaker 1: from pausing rate hikes. Likewise, Karen FED Governor Christopher Waller 599 00:32:58,600 --> 00:33:01,000 Speaker 1: emphasized the need to bring down an inflation. I believe 600 00:33:01,040 --> 00:33:04,520 Speaker 1: we have tools in place to address any financial stability concerns, 601 00:33:04,960 --> 00:33:09,240 Speaker 1: and we should not be looking to monetary policy for 602 00:33:09,480 --> 00:33:12,640 Speaker 1: this purpose. The focus of monetary policy needs to be 603 00:33:13,000 --> 00:33:16,640 Speaker 1: on one day fighting inflation. Governor Chris Waller says the 604 00:33:16,680 --> 00:33:19,360 Speaker 1: FED needs to continue to raise interest rates into next year. 605 00:33:19,520 --> 00:33:22,200 Speaker 1: We also heard hawkeys remarks from Cleveland FED Chief Florid 606 00:33:22,240 --> 00:33:25,760 Speaker 1: Semester FED Governor Lisa Cook, and Chicago's Charles Evans Well. 607 00:33:25,800 --> 00:33:28,520 Speaker 1: Taking a look at markets now, Nathan u Stock indise 608 00:33:28,640 --> 00:33:32,720 Speaker 1: futures are lower following those comments, plus week earnings from Shipmakers. 609 00:33:32,840 --> 00:33:38,000 Speaker 1: Jessica Beamer's portfolio manager with Easterly Investment Partners, interest rates 610 00:33:38,240 --> 00:33:41,720 Speaker 1: have really been a dominant story since mid August and 611 00:33:41,880 --> 00:33:45,520 Speaker 1: it's created some panic and equity markets is around housing 612 00:33:45,960 --> 00:33:48,760 Speaker 1: m and a financing, you know, rolling dead. I think 613 00:33:48,800 --> 00:33:51,120 Speaker 1: people are really worried about kind of how those rates 614 00:33:51,160 --> 00:33:54,360 Speaker 1: are going to affect individual companies, and Justin a Beamer 615 00:33:54,440 --> 00:33:57,239 Speaker 1: with Easterly Investment Partners says we're only starting to get 616 00:33:57,360 --> 00:33:59,760 Speaker 1: hints to the full impact of rate hikes. One of 617 00:33:59,800 --> 00:34:02,400 Speaker 1: those could come today. Karen in the September Jobs Report 618 00:34:02,440 --> 00:34:04,360 Speaker 1: to at eight thirty am Wall Street Time. Stick with 619 00:34:04,480 --> 00:34:07,240 Speaker 1: us for live coverage all morning, plus conversation with US 620 00:34:07,320 --> 00:34:10,399 Speaker 1: Labor Secretary Marty Walsh live in the nine am hour 621 00:34:10,560 --> 00:34:13,919 Speaker 1: on Bloomberg Radio and Television. And we have an update 622 00:34:13,960 --> 00:34:16,680 Speaker 1: on Elon Musk and Twitter this morning. And Delaware judges 623 00:34:16,719 --> 00:34:20,200 Speaker 1: halted the mid October court case against Musk to allow 624 00:34:20,360 --> 00:34:22,880 Speaker 1: his deal to buy Twitter to close. And we have 625 00:34:23,000 --> 00:34:25,520 Speaker 1: three winners of this year's Nobel Peace Prize. Karen Alas 626 00:34:25,560 --> 00:34:28,840 Speaker 1: b Alatsky from Belarus, a Russian human rights organization memorial, 627 00:34:28,960 --> 00:34:31,640 Speaker 1: and the Ukrainian rights group Center for Civil Liberties have 628 00:34:31,840 --> 00:34:35,759 Speaker 1: all won the Nobel Peace Prize. And that's the five 629 00:34:35,800 --> 00:34:37,800 Speaker 1: things you need to notice start your day. Brought to 630 00:34:37,840 --> 00:34:41,680 Speaker 1: you by Interactive Brokers and SMP. Futures are lower this morning, 631 00:34:41,760 --> 00:34:45,000 Speaker 1: down six points, straight ahead, your latest local headlines, plus 632 00:34:45,160 --> 00:34:53,600 Speaker 1: a check of sports. And this is Bloomberg all right, 633 00:34:53,640 --> 00:34:55,680 Speaker 1: thanks Karen. It is six thirty three on Wall Street 634 00:34:56,640 --> 00:34:58,640 Speaker 1: in Central Park. Still dealing with the lads and the 635 00:34:58,680 --> 00:35:01,080 Speaker 1: white Stone Bridge at that acts, then heading into Queen's. 636 00:35:01,400 --> 00:35:03,400 Speaker 1: Michael Barr has more on what's going on in New 637 00:35:03,520 --> 00:35:06,600 Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan. 638 00:35:06,640 --> 00:35:09,320 Speaker 1: An afternoon and the bronx turned into a frightening moment. 639 00:35:09,360 --> 00:35:11,920 Speaker 1: Authorities in New York City say ten people were injured, 640 00:35:11,920 --> 00:35:15,279 Speaker 1: including two young children, when a police cruiser collided with 641 00:35:15,320 --> 00:35:18,680 Speaker 1: another vehicle and crashed onto a sidewalk in My p D. 642 00:35:18,800 --> 00:35:21,680 Speaker 1: Chief of Patrol Jeffrey Madre said the patrol car was 643 00:35:21,760 --> 00:35:24,360 Speaker 1: responding to a call and trying to get around a 644 00:35:24,440 --> 00:35:27,680 Speaker 1: vehicle at an intersection when the crash happened. There's an 645 00:35:27,719 --> 00:35:33,200 Speaker 1: investigation unit. It's conducted investigation. They'll continue to talk to witnesses. 646 00:35:33,760 --> 00:35:37,239 Speaker 1: They'll continue to find video, and they'll continue to piece 647 00:35:37,239 --> 00:35:41,080 Speaker 1: together exactly what happened here. The NYPDS Jeffrey Madre says 648 00:35:41,160 --> 00:35:44,239 Speaker 1: there are no major injuries. A federal judge struck down 649 00:35:44,320 --> 00:35:48,080 Speaker 1: New York State's new law banning guns in certain public areas. 650 00:35:48,600 --> 00:35:50,960 Speaker 1: The law was created in response to a Supreme Court 651 00:35:51,080 --> 00:35:53,920 Speaker 1: ruling striking down another New York law that restricted who 652 00:35:54,080 --> 00:35:57,200 Speaker 1: could own a gun. Now, officials are concerned about guns 653 00:35:57,280 --> 00:36:01,120 Speaker 1: being carried into crowded areas like Time Square. President Biden 654 00:36:01,160 --> 00:36:04,520 Speaker 1: paid a visit to an IBM campus in Poughkeepsie, New York, yesterday. 655 00:36:04,760 --> 00:36:09,160 Speaker 1: He talked about semi conductor chips American Vinity chips. They 656 00:36:09,280 --> 00:36:13,680 Speaker 1: powered Nassa's first Moon mission, the President Kennedy inspired here 657 00:36:13,760 --> 00:36:17,640 Speaker 1: in America. President Biden also emphasized creating jobs in the 658 00:36:17,800 --> 00:36:22,080 Speaker 1: US and lowering costs. Hunter Biden's legal team is slamming 659 00:36:22,160 --> 00:36:25,719 Speaker 1: federal investigators and even accusing them of misconduct, writing it 660 00:36:26,280 --> 00:36:31,200 Speaker 1: as a felony to leak information. Several media outlets, including 661 00:36:31,200 --> 00:36:33,880 Speaker 1: The Washington Post, reports federal agents believe they have enough 662 00:36:33,920 --> 00:36:38,160 Speaker 1: evidence to charge President Biden's son with tax crimes and 663 00:36:38,280 --> 00:36:40,319 Speaker 1: lying on the federal form when he bought a gun. 664 00:36:40,960 --> 00:36:43,960 Speaker 1: Horrific scene on the Las Vegas Strip where police say 665 00:36:44,040 --> 00:36:48,320 Speaker 1: eight people were stabbed in a string of allegedly unprovoked attacks. 666 00:36:48,719 --> 00:36:51,040 Speaker 1: At least two of the victims were killed, six wounded, 667 00:36:51,120 --> 00:36:55,320 Speaker 1: including several and critical condition. Las Vegas Metropolitan Police Deputy 668 00:36:55,400 --> 00:36:59,440 Speaker 1: Chief James la Rochelle it's just clearly a very tragic 669 00:37:00,040 --> 00:37:05,400 Speaker 1: to understand, hard to comprehend murder investigation that deeply impact 670 00:37:05,480 --> 00:37:09,760 Speaker 1: our community. Deputy Chief La Rochelle says a large knife 671 00:37:09,880 --> 00:37:12,520 Speaker 1: has been recovered. A member of the Proud Boys has 672 00:37:12,560 --> 00:37:16,080 Speaker 1: admitted his role in the Capitol attack. Jeremy Bertino in 673 00:37:16,160 --> 00:37:20,239 Speaker 1: North Carolina pleaded guilty to seditious conspiracy. Bertino has also 674 00:37:20,320 --> 00:37:23,560 Speaker 1: agreed to cooperate and help federal agents with their investigation. 675 00:37:24,160 --> 00:37:26,840 Speaker 1: Global News twenty four hours a day on air and 676 00:37:27,080 --> 00:37:30,200 Speaker 1: on Bloomberg quick Take, powered by more than twenty seven 677 00:37:30,280 --> 00:37:33,080 Speaker 1: hundred journalists and analysts more than one d twenty countries. 678 00:37:33,480 --> 00:37:41,239 Speaker 1: Michael Byron, this is Bloomberg Nam. Thanks Michael. Almost six 679 00:37:41,320 --> 00:37:44,080 Speaker 1: thirty six on Wall Street, John Stashire has a Bloomberg 680 00:37:44,120 --> 00:37:47,200 Speaker 1: Sports update, Thanks Nayan. The baseball post season begins today. 681 00:37:47,239 --> 00:37:49,600 Speaker 1: The new format makes its debut. There used to be 682 00:37:49,680 --> 00:37:52,279 Speaker 1: a single wild card game in each league. Now there 683 00:37:52,320 --> 00:37:55,359 Speaker 1: are four best of three wild cards series. He put 684 00:37:55,480 --> 00:37:57,560 Speaker 1: in the Mets and Padres and City Field, and Mets 685 00:37:57,640 --> 00:37:59,759 Speaker 1: forced end of this series when they came up just 686 00:38:00,000 --> 00:38:02,239 Speaker 1: word of winning the Vision. Pete Alonzo was asked about 687 00:38:02,360 --> 00:38:05,279 Speaker 1: last weekend when they got swept in Atlanta. People look 688 00:38:05,320 --> 00:38:08,839 Speaker 1: at the look at the Atlanta series, uh, and they 689 00:38:08,920 --> 00:38:11,719 Speaker 1: think that's the that was the determining factor. But to 690 00:38:11,800 --> 00:38:15,080 Speaker 1: be honest with you, um, we we got swept by 691 00:38:15,120 --> 00:38:18,160 Speaker 1: the Cubs like three weeks prior. So um, if we 692 00:38:18,280 --> 00:38:20,360 Speaker 1: didn't get swept, if we had one more game or 693 00:38:20,440 --> 00:38:23,680 Speaker 1: if you look at um, I don't know the sixties 694 00:38:23,719 --> 00:38:27,240 Speaker 1: some other games were it was closed interest tonight, Max Scherzer, 695 00:38:27,400 --> 00:38:29,920 Speaker 1: you Darvis sounds like the mess. If they win tonight, 696 00:38:30,080 --> 00:38:32,560 Speaker 1: we'll start Chris Bassett tomorrow night. Then they would have 697 00:38:32,880 --> 00:38:35,879 Speaker 1: Jacob ground for either Game three Sunday or Game one 698 00:38:36,040 --> 00:38:38,360 Speaker 1: next Tuesday in l A. If they lose tonight, they 699 00:38:38,400 --> 00:38:41,040 Speaker 1: would start to Gron tomorrow. Yankees asked some decision to 700 00:38:41,120 --> 00:38:43,080 Speaker 1: make on their roster for the a l D asked 701 00:38:43,080 --> 00:38:45,800 Speaker 1: against either Cleveland or Tampa Bay. Aaron Boone hit to 702 00:38:45,840 --> 00:38:47,800 Speaker 1: then Matt Carpenter, who's been out since he broke his 703 00:38:47,840 --> 00:38:50,520 Speaker 1: foot in early August, ready to return, could be used 704 00:38:50,520 --> 00:38:52,720 Speaker 1: as the pinch hitter off the bench. Week five Underway 705 00:38:52,719 --> 00:38:56,720 Speaker 1: Indianapolis one at Denver twelve to nine and overtime Colts 706 00:38:56,800 --> 00:38:59,200 Speaker 1: QB Matt Ryan called this game a slog of a 707 00:38:59,280 --> 00:39:03,560 Speaker 1: game at what on ten sacks for interceptions, no touchdowns. 708 00:39:03,840 --> 00:39:06,600 Speaker 1: Giants in London get ready for the Packers Sunday morning, 709 00:39:06,640 --> 00:39:09,799 Speaker 1: New York Time. Giants just signed safety Landon Collins, who 710 00:39:09,880 --> 00:39:11,600 Speaker 1: in his first date with the Giants with three time 711 00:39:11,640 --> 00:39:14,440 Speaker 1: pro bowler all the preseason, but the Nets Boston home 712 00:39:14,520 --> 00:39:17,239 Speaker 1: to Miami by twenty nine. Islanders beat the Devil's. New 713 00:39:17,400 --> 00:39:21,200 Speaker 1: NHL season starts next three. Josh Dash, bloom Group Sports, 714 00:39:21,280 --> 00:39:23,560 Speaker 1: Nathan all right, John, thank you. Six thirty seven on 715 00:39:23,640 --> 00:39:25,200 Speaker 1: Wall Street. Time to take a look at stuck, some 716 00:39:25,280 --> 00:39:27,479 Speaker 1: of the names moving in the pre market. Bloomberg Radio 717 00:39:27,560 --> 00:39:31,080 Speaker 1: and TV Markets correspondent Pretty Gufta. We're continuing to keep 718 00:39:31,120 --> 00:39:34,720 Speaker 1: an eye on what is happening between Twitter and Elon Musk. 719 00:39:34,840 --> 00:39:41,880 Speaker 1: It looks like the buyout saga goes on still, Yeah, perpetually, 720 00:39:41,960 --> 00:39:44,520 Speaker 1: it seems it never quite ends. And what's interesting here 721 00:39:44,560 --> 00:39:46,920 Speaker 1: is this came after during the afternoon actually yesterday, we 722 00:39:46,960 --> 00:39:49,120 Speaker 1: got some news that the deal is set to be 723 00:39:49,200 --> 00:39:52,840 Speaker 1: contingent on receiving thirteen billion dollars in debt financing. No, remember, 724 00:39:52,880 --> 00:39:54,560 Speaker 1: we knew this that he was trying to have the 725 00:39:54,600 --> 00:39:56,560 Speaker 1: starting to have some of these financing issues. And one 726 00:39:56,600 --> 00:39:59,760 Speaker 1: of the reasons that Twitter shares were lower yesterday actually 727 00:40:00,160 --> 00:40:02,040 Speaker 1: was simply the idea that does that mean that his 728 00:40:02,239 --> 00:40:05,040 Speaker 1: offer for Twitter as the entire company will drop below 729 00:40:05,400 --> 00:40:08,080 Speaker 1: fifty to four dollars and twenty cents up per share 730 00:40:08,440 --> 00:40:11,160 Speaker 1: of that being said, after that news, the idea that 731 00:40:11,239 --> 00:40:13,480 Speaker 1: it's going to be contingent on the debt financing, which 732 00:40:13,520 --> 00:40:16,120 Speaker 1: already doesn't look too rosy. You saw the stock drop 733 00:40:16,200 --> 00:40:19,000 Speaker 1: about ten percent this morning, though Nathan a little bit 734 00:40:19,040 --> 00:40:21,440 Speaker 1: of whip saw the action, if that's the word here, 735 00:40:21,520 --> 00:40:24,160 Speaker 1: You do have um the stock both negative and pausitive 736 00:40:24,200 --> 00:40:26,560 Speaker 1: territory in the first couple of hours of pre market trading. 737 00:40:26,880 --> 00:40:29,160 Speaker 1: Now is just sitting unchanged. So really keep an eye 738 00:40:29,200 --> 00:40:32,040 Speaker 1: on Twitter shares t w t R A taker and 739 00:40:32,080 --> 00:40:34,160 Speaker 1: of course we'll give you updates throughout the hour as well. 740 00:40:34,200 --> 00:40:36,480 Speaker 1: But Nathan, there's a sector that you have to keep 741 00:40:36,480 --> 00:40:38,799 Speaker 1: an eye on and those chip stocks, because that's where 742 00:40:38,800 --> 00:40:42,520 Speaker 1: you're seeing some real movement really contributing to what could 743 00:40:42,520 --> 00:40:44,640 Speaker 1: happen on the macro level as well. So think about 744 00:40:44,960 --> 00:40:48,160 Speaker 1: the likes of advanced micro devices and video Intel. This 745 00:40:48,280 --> 00:40:50,880 Speaker 1: coming after Samsung and a m D both reported some 746 00:40:50,960 --> 00:40:54,759 Speaker 1: pretty disappointing figures within just hours of each other. The 747 00:40:54,840 --> 00:40:57,239 Speaker 1: issue here is um, Nathan. I'm sure you've heard of 748 00:40:57,320 --> 00:41:00,040 Speaker 1: DOW theory or or GM theory, the idea that the 749 00:41:00,080 --> 00:41:04,120 Speaker 1: economy it's going to kind of take its um indication 750 00:41:04,239 --> 00:41:06,200 Speaker 1: or extold economists will take their indication of how the 751 00:41:06,239 --> 00:41:09,479 Speaker 1: economy is doing by how many cars Americans are buying, 752 00:41:09,640 --> 00:41:12,520 Speaker 1: or how much gas they're spending or whatever. The new 753 00:41:12,600 --> 00:41:15,000 Speaker 1: theory here is is chip theory, which is the amount 754 00:41:15,120 --> 00:41:18,400 Speaker 1: of healthiness in the chip sector, just given our dependence 755 00:41:18,440 --> 00:41:22,680 Speaker 1: on technology and how much everything UM really relies on chips. 756 00:41:22,920 --> 00:41:26,000 Speaker 1: So if these chip companies aren't doing well, then for 757 00:41:26,040 --> 00:41:27,960 Speaker 1: a lot of people on a macro basis, that signals 758 00:41:28,000 --> 00:41:30,160 Speaker 1: that there is a deteriorating climate here. So a m 759 00:41:30,239 --> 00:41:32,920 Speaker 1: D is one example, down about five point six percent 760 00:41:33,480 --> 00:41:35,960 Speaker 1: have Nvidia n B d A, the heavyweight down three 761 00:41:36,040 --> 00:41:39,439 Speaker 1: point two percent, and of course Intel I NTC down 762 00:41:39,480 --> 00:41:42,279 Speaker 1: about three percent as well. Nathan, No, in our last 763 00:41:42,320 --> 00:41:45,360 Speaker 1: thirty seconds, CRE have to think investors in cannabis companies 764 00:41:45,400 --> 00:41:47,680 Speaker 1: have to be feeling good after what the President had 765 00:41:47,719 --> 00:41:50,279 Speaker 1: to say yesterday. You know they initially did, because you 766 00:41:50,320 --> 00:41:52,080 Speaker 1: did have a rally and some of those that cannabis 767 00:41:52,120 --> 00:41:55,880 Speaker 1: company stocks. President Biden pardoning thousands of Americans for possession 768 00:41:55,920 --> 00:41:58,640 Speaker 1: of marijuana and ordering a review of its legal status 769 00:41:58,719 --> 00:42:01,160 Speaker 1: once again kind of feeling the hopes decriminalization. But this 770 00:42:01,280 --> 00:42:04,160 Speaker 1: morning Nathan's turnaround story, Till Rate t l r Y 771 00:42:04,280 --> 00:42:07,480 Speaker 1: down one and a half percent. Uh, and Chronos for example, 772 00:42:07,560 --> 00:42:09,400 Speaker 1: c r o N down six tents of a percent. 773 00:42:09,480 --> 00:42:13,839 Speaker 1: So not a ton of green there, alright, green, very good, 774 00:42:14,160 --> 00:42:17,880 Speaker 1: thank you, Bloomberg Radio and TV Markets correspondent, pretty grouped. 775 00:42:18,160 --> 00:42:20,600 Speaker 1: Taking a look at stocks as a whole. Yeah, not 776 00:42:20,680 --> 00:42:22,880 Speaker 1: a whole lot of green there either. SMP futures are 777 00:42:22,960 --> 00:42:26,800 Speaker 1: down four points, staff futures touch higher, up nineteen NASDAC 778 00:42:26,880 --> 00:42:31,319 Speaker 1: futures on the decline, though, down forty five points. You're 779 00:42:31,400 --> 00:42:39,000 Speaker 1: listening to Bloomberg Daybreak, Bloomberg eleven three oh weather sunny 780 00:42:39,000 --> 00:42:40,960 Speaker 1: and pleasant for one more day today, high in your 781 00:42:41,000 --> 00:42:43,279 Speaker 1: seventy five degrees. We'll stay sunny this weekend, but it's 782 00:42:43,280 --> 00:42:46,400 Speaker 1: gonna be cooler tomorrow, only your sixty degrees low sixties 783 00:42:46,480 --> 00:42:49,480 Speaker 1: for Sunday. Sixty one is our current temperature in Central 784 00:42:49,520 --> 00:42:49,759 Speaker 1: Park