Speaker 1: By from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: day Break for Friday, October seven two. Coming up this hour,
Speaker 1: we await US jobs data as stocks try to avoid
Speaker 1: a three day slide that officials overwhelmingly pushed back against
Speaker 1: the idea of cutting rates next year. The trial between
Speaker 1: Elon Musk and Twitter gets delayed and helps the deal
Speaker 1: will close. An oil voice for a big weekly rally
Speaker 1: after Opex announced cutting judges ruling as a blow to
Speaker 1: New York State's new gun law. Plus an n y
Speaker 1: p D cruiser crashes onto a sidewalk in during ten
Speaker 1: People on Michael barr More I'm John Stay Show, where
Speaker 1: the Colts meet the Broncos it over time. The Medicine
Speaker 1: Padres begin their wild Card playoff series tonight at City Field.
Speaker 1: That's All's tradinghead on Bloomberg Daybreak on Bloomberg Eliving Free
Speaker 1: on New York, Bloomberg one, Washington d C, Bloomberg one
Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Sirius
Speaker 1: x M one nine Team and around the world on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg business Side
Speaker 1: and Good Morning I'm Kared Moscow, I'm Nathan Hagar. Bloomberg
Speaker 1: Daybreak is brought to you by B and Y Melon's Pershing.
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Speaker 1: US futures are a little change this morning. It's six
Speaker 1: o one on Wall Street and we checked the markets
Speaker 1: every fifteen minutes throughout the trading day on bloomberg S
Speaker 1: and p futures. That will change this morning now futures
Speaker 1: up sixty two and ASDAC futures down twenty nine. And
Speaker 1: this data check brought to you by SEI, built on
Speaker 1: advanced technologies and fifty years of innovation. SEI offers asset
Speaker 1: managers a comprehensive and flexible operations outsourcing platform. Go to
Speaker 1: se i C dot com slash Managers. Karen, let's begin
Speaker 1: with talk from the Fed. Central Bankers are coming out
Speaker 1: in full force to talk down expectations of a turn
Speaker 1: to more dubbish policy. We heard hawkish comments from no
Speaker 1: less than five officials yesterday include Minneapolis Fed President Neil
Speaker 1: cash Cary until I see some evidence that underlying inflation
Speaker 1: has solidly peaked and is hopefully headed back down. I'm
Speaker 1: not ready to declare pause. Minneapolis FED President Neil cash
Speaker 1: Cary says he expects losses and failures around the global
Speaker 1: economy as we transition to a higher interest rate environment. Likewise,
Speaker 1: FED Governor Christopher Waller says he sees no sign of
Speaker 1: a FED pivot either this or next year. I anticipate
Speaker 1: additional rate hikes into early next year, and I'll be
Speaker 1: watching the data carefully to decide the appropriate pace of
Speaker 1: tightening as we continue to move into more and more
Speaker 1: restrictive territory. FED Governor Christopher Waller emphasized the need to
Speaker 1: find inflation. We heard similar remarks from Cleveland Fed chief
Speaker 1: Ler and Amester FED Governor Lisa Cook, and Chicago's Charles
Speaker 1: Evans yesterday. Oh, we take a look at markets now,
Speaker 1: Nathan and US dock index futures are a little change.
Speaker 1: The hawk ish FED talk and some weak earnings from
Speaker 1: shipmakers are hitting sentiment. And Jessica Biemer's portfolio manager with
Speaker 1: Easterly Investment Partners, I think we all have to understand,
Speaker 1: uh um, We're only going to get early hints of
Speaker 1: the Fed's full impact. A lot of the efforts that
Speaker 1: they've put out There obviously huge increasures in the interest rate,
Speaker 1: but that that takes time to work its way through the
Speaker 1: economy and certainly on the jobs numbers that we're going
Speaker 1: to see. Jessica Beamer with Easterly Investment Partners says that
Speaker 1: policy could start hitting earnings in the coming months. Job's
Speaker 1: report is the key event on the agenda today, Karen,
Speaker 1: we get the employment figures for September at eight thirty
Speaker 1: a m. Wall Street time, and here the preview is
Speaker 1: Bloomberg Economics correspondent Michael McKee. Employment is one of the
Speaker 1: Fed's two mandates, and this Job's report will be one
Speaker 1: of the key numbers as policymakers decide on a rate
Speaker 1: hike next month. What they'd like to see is job
Speaker 1: growth in the neighborhood of the Bloomberg consensus, which would
Speaker 1: suggest the economy is slowing but not crashing. Unemployment is
Speaker 1: also key. No change is expected, but historically a jump
Speaker 1: in the jobless for it is a sign of recession ahead.
Speaker 1: Stronger job creation or lower unemployment would suggest the Fed
Speaker 1: will push interest rates higher for longer disappointing investors. A
Speaker 1: consensus like report would turn attention to next week's consumer
Speaker 1: price index, a final decision point for the Fed. Michael
Speaker 1: McKay Bloomberg Daybreak. Thanks stick with us all morning for
Speaker 1: live coverage of the September jobs report, plus a conversation
Speaker 1: with Marty Walsh. Should we speak with the US Labor Secretary?
Speaker 1: Coming up in the nine am hour on Bloomberg Radio
Speaker 1: and Television. Nathan returned to Oil now, and we're seeing
Speaker 1: crude hand for its biggest weekly gain since March, after
Speaker 1: sliding on concerns over a global slowdown. Oil is rallied
Speaker 1: since Opek announced plans for a large production cut and
Speaker 1: checking prices right now and I make screwed. Oil is
Speaker 1: up nine tens of a percent at eighty nine dollars
Speaker 1: twenty one cents of barrel. Brent is up eight tens
Speaker 1: of up presented ninety five dollars seventeen cents. Now, let's
Speaker 1: gets the latest on Elon Musk and Twitter, Karen, there
Speaker 1: is uncertainty creeping into Musk's plans to buy the company. Afterward,
Speaker 1: his offers contingent on a thirteen billion dollar debt financing
Speaker 1: Bloomberg's at Ludlow has more the concern is that Musque
Speaker 1: has this twelve point five billion dollars of debt split
Speaker 1: between a six point five billions all alone, three billion
Speaker 1: of un secured, three billion of security bonds. There's also
Speaker 1: revolving credit line in their times have changed since that
Speaker 1: deal and that package was agreed in April, and so
Speaker 1: I guess the concern in the background is the viability
Speaker 1: of that debt, Bloomberg said. Ludlow says the judges halting
Speaker 1: the court case to allow the deal to close. She
Speaker 1: says if the transaction isn't done by five pm ocs overy,
Speaker 1: new trial dates will be set for November. Now shares
Speaker 1: a Twitter rosen lie trading yesterday right now they are
Speaker 1: a little changed and see him a corporate news now, Nathan.
Speaker 1: We're seeing possible signs of a bigger downturn in tech.
Speaker 1: Chipmakers are warning of slowing demand, Samsung and a m
Speaker 1: D reporting earnings within hours of each other that widely
Speaker 1: missed estimates. The numbers come after Micron technology slash spending
Speaker 1: and output in hopes of stabilizing plunging prices, and Amazon's
Speaker 1: abandoning its home delivery robot Karen just the latest cut
Speaker 1: to its experimental projects. Bloomberg's Charlie Pellett has that story.
Speaker 1: It is the latest signed that the e commerce giant
Speaker 1: is starting to wind down experimental projects amidst slowing sales growth.
Speaker 1: According to a source, work on Scout, an autonomous machine
Speaker 1: launched about three years ago, has already been halted. An
Speaker 1: Amazon spokesperson said the Scout team was being disbanded and
Speaker 1: would be offered new jobs in the organization. A source
Speaker 1: says about four hundred people were working on the project
Speaker 1: globally in New York. Charlie pelt Bloomberg Daybreak Right, Charlie, thanks,
Speaker 1: let's not politics now, and the conflict in Ukraine. President
Speaker 1: Biden weighed in on the war at a fundraiser in
Speaker 1: New York, expressing concern of our Vladimir Putin's threats to
Speaker 1: use nuclear weapons. Biden called the threats real and says
Speaker 1: the US is trying to find an off ramp for Putin.
Speaker 1: Biden warrants that if Putin deployed nuclear weapons, it could
Speaker 1: lead to armageddon now. The President's also making announcements back
Speaker 1: here at Home Care, and earlier in the day, he
Speaker 1: announced a pardon for any American convicted of simple marijuana
Speaker 1: possession under the law. Too many lives have been upended
Speaker 1: because of our failed approach to marijuana. It's time that
Speaker 1: we right these wrong. President Biden's all surging governors to
Speaker 1: issue similar partons for state offenses involving marijuana. Sp futures
Speaker 1: are down one point right now. DAL futures are up
Speaker 1: forty two. Nastack futures are down forty two points ten.
Speaker 1: Your treasuries down four thirty seconds, you know three four
Speaker 1: Imex screwed up nine tenths percent at one barrel bitcoin
Speaker 1: right around twenty thous dollars. Straight ahead your latest local
Speaker 1: headlines in the check of sports. This is Bloomberg and
Speaker 1: it is now six so seven on Wall Street, sixty
Speaker 1: one degrees in Central Park. It is having both ways
Speaker 1: of the white Stone Bridge with an accident. Queen's bound
Speaker 1: details count up in traffic. First Michael Barr with what
Speaker 1: else is going on in New York and around the world. Michael,
Speaker 1: thank you very much, Nathan. Authorities in New York City State,
Speaker 1: ten people were injured, including two young children, when a
Speaker 1: police cruiser collided with another vehicle and crashed onto a sidebook.
Speaker 1: It happened yesterday afternoon in the Bronx at Westchester and
Speaker 1: who Avenues. NYPD Chief of Patrol Jeffrey Madre has said
Speaker 1: the patrol car was responding to a call and trying
Speaker 1: to get around a vehicle at an intersection when the
Speaker 1: crash happened. The officers crossed over the double yellow to
Speaker 1: go around the vehicle, but the vehicle made a left
Speaker 1: hand term, at which point the department vehicle and a
Speaker 1: sevil the civilian vehicle, they clicked each other. The m
Speaker 1: I p d. S. Jeffrey Madre says there are no
Speaker 1: major injuries. Officials in New York are looking at their
Speaker 1: next options after a federal judge struck down the stage
Speaker 1: new law banning guns in certain public places. The law
Speaker 1: was created in response to a Supreme Court ruling striking
Speaker 1: down another New York law that restricted who could own
Speaker 1: a gun and extremist groupie. There is now the first
Speaker 1: plead guilty to seditious conspiracy in the January sixth attack.
Speaker 1: A senior member of the Proud Boys admitted to planning
Speaker 1: a violent assault on the Capitol days before the January
Speaker 1: six insurrection. Jeremy Bertino has agreed to cooperate with federal
Speaker 1: investigators a gruesome crime on the Las Vegas Strip where
Speaker 1: police say eight people were stabbed in an unprovoked attack.
Speaker 1: At least two of the victims died. Las Vegas Metropolitan
Speaker 1: Police Deputy Chief James Labroschell that stabbing occurs quickly and
Speaker 1: the suspects subsequently goes a southbound on the sidewalk area
Speaker 1: and the staffs additional victims. H five victims there and
Speaker 1: um uh there was an additional victim on the south
Speaker 1: side of sands. Also, Deputy Chief La Rochelle says a
Speaker 1: suspect is in custody. Human rights and democracy worldwide where
Speaker 1: at the heart of this year's Nobel Peace Prize. The
Speaker 1: winners are a jailed Belarus activists, Russian human rights organization
Speaker 1: and the Ukrainian Civil Liberties group. Barat Reese Anderson is
Speaker 1: the chair of the Norwegian Nobel Committee. Alvis B. Elliotsky
Speaker 1: was one of the initiators of the democracy movement that
Speaker 1: emerged in Belarus in the mid nine eighties. Blatsky, the
Speaker 1: Russian group Memorial, and the Ukrainian organizations Center for Civil
Speaker 1: Liberties will share the prize. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty seven journalists and that listed more
Speaker 1: than twenty countries. Michael Bart, this is Bloomberg, Na. Michael,
Speaker 1: thanks almost sixth ten on Wall Street time for the
Speaker 1: Bloomberg Sports Update with John Stas show. Thanks Day. It's
Speaker 1: the game the Mets did not want to play, did
Speaker 1: not think they were gonna have to play for most
Speaker 1: of the season, but they finished tied for first with Atlanta,
Speaker 1: who won the season series ten to nine. Unless the
Speaker 1: Braids sitting home today and the Mets getting ready to
Speaker 1: play Game one of the best of three Wild Cards
Speaker 1: series at City Field with San Diego Max Sers will
Speaker 1: be on the mountain for the Mets. You're just anxious
Speaker 1: to get out there. You're anxious to go out there
Speaker 1: and compete. Uh, you know, everything's on the line, win
Speaker 1: or go home. Um, you know that's the id you
Speaker 1: have to have. You have to win. I mean, you
Speaker 1: get in the postseason and every day it feels like
Speaker 1: it must win that you know, must win game. Um,
Speaker 1: whether it's an elimination game or not. He always choked
Speaker 1: up part like we got t wins today. You Darvis
Speaker 1: starts with the Padres, who won the season series with
Speaker 1: the Mets sport to two. The geek tonight comes after
Speaker 1: three day games started with Tampa Bay and Cleveland. The
Speaker 1: winner of that series then face is the Yankees. The
Speaker 1: Phillies play in St. Louis, Seattle is in Toronto, NFL,
Speaker 1: and Denver went to overtime. There were twelve punts, ten sacks,
Speaker 1: four interceptions and no touchdowns. Indianapolis kit core field goals.
Speaker 1: The Broncos had three. Indy held on at the end
Speaker 1: one twelve to nine to get its second one of
Speaker 1: the year. Denver dropped to two and three. Russell Wilson
Speaker 1: has struggled with his new team. Landon Collins back with
Speaker 1: his old top team three time Pro Bowl safety while
Speaker 1: with the Giants, then signed as a free agent with Washington.
Speaker 1: Collins was unsigned and though he won't play Sunday, he
Speaker 1: did fly with his new teammates to London for Sunday's
Speaker 1: game with Green Bay preseason last night, Islanders beat the
Speaker 1: Devils five to two. Season starts next week and at Barkley's.
Speaker 1: Then Nets got blown out by the heat in Miami
Speaker 1: one by twenty nine. John Stashi went Bloomberg Sports nuthan,
Speaker 1: thank you John. SMP future is now up one point
Speaker 1: sal features up sixty four now nastack Future still lower
Speaker 1: by thirty points ten. Your treasuries down three thirty seconds.
Speaker 1: Heal three point eight three percent ahead of September pay rolls,
Speaker 1: We've preview the jobs numbers. Next with Bloomberg's Michael McKee.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather sunny pleasant today,
Speaker 1: high your seventy five degrees, Lots of sunshine tomorrow, but
Speaker 1: it's gonna be cooler, only near sixty. We'll get into
Speaker 1: the low sixties by Sunday. Right now sixty one in
Speaker 1: Central Park Markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business Outland,
Speaker 1: at Bloomberg Quicktape. He's a Bloomberg Business Flash and I'm
Speaker 1: Karen Moscow. US Dock Index futures, well they are. They've
Speaker 1: been moving around a bit this morning. SMP futures were
Speaker 1: a little change and now they're lower again. Ahead of
Speaker 1: the latest payrolls or board. Investors will be looking for
Speaker 1: clues on the monetary policy path. If you check the
Speaker 1: markets every fifteen minutes. Throughout the trading day on Bloomberg,
Speaker 1: SNP futures down down about five points down. Futures remain
Speaker 1: higher up twenty three and nasdays futures are down fifty
Speaker 1: The decks in Germany is down a tenth of upper cent.
Speaker 1: Ten year treasury down four thirty seconds. You have three
Speaker 1: point eight four percent the yield on the two year
Speaker 1: four point to seven percent. NIMEX screwed oil is of
Speaker 1: nine tenths of upper cent of seventy nine cents at
Speaker 1: eighty nine dollars, twenty four cents of barrel Comex school
Speaker 1: down a quarter percent or four dollars is seventeen sixteen
Speaker 1: eighty announce the euro point nine seven nine six against
Speaker 1: the dollar British found one point one to one and
Speaker 1: again one forty four point nine too. And look at
Speaker 1: a bitcoin, it's down sixtensive percent at nineteen thousand, nine
Speaker 1: hundred dollars. That's a Bloomberg business flash. Now here's Michael
Speaker 1: Barr with more on what's going on around the world. Michael,
Speaker 1: thank you very much, Darren. President Joe Biden says the
Speaker 1: risk of nuclear arma GEDTTON is at the highest level
Speaker 1: since the nineteen sixty two Cuban missile crisis. President Biden's
Speaker 1: comments come as Russian officials speak of the possibility of
Speaker 1: using tactical nuclear weapons in the eight month invasion of Ukraine.
Speaker 1: A jailed Belarusian human rights advocate won the Nobel Peace
Speaker 1: Prize this year, along with two organizations that protect civil
Speaker 1: society in Russia and Ukraine. Alice being Latsky from Belarus
Speaker 1: Memorial of Russia and Ukraine Center for Civil Liberties were
Speaker 1: awarded the prize today. In baseball, the Mats and the
Speaker 1: Padres start their wild card playoff series tonight. Thursday Night Football,
Speaker 1: the Colts beat the Broncos twelve nine in a game
Speaker 1: where no touchdowns were scored. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists and analyists more than
Speaker 1: a hundred twenty countries. Michael bar this is Bloomberg, Nathan,
Speaker 1: Thanks Michael, six nineteen on Wall Street Life from the
Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. As we
Speaker 1: keep score on this labor market, we get some very
Speaker 1: key numbers in just a couple hours. Here with the
Speaker 1: release of the September payrolls report. Ahead of that, we're
Speaker 1: joined this morning by Bloomberg Global Economics and Policy correspondent
Speaker 1: Michael McKee. Mike, good morning. Of course, the Fed is
Speaker 1: trying to soften this labor market. What kind of evidence
Speaker 1: of that softening are we expecting? Are we going to
Speaker 1: get it this morning? Well, attention to the second question. First,
Speaker 1: I don't know. Um, we'll find out at a thirty,
Speaker 1: but what they're looking for is a slowdown in the
Speaker 1: pace of hiring, not collapse, but a slowdown in The
Speaker 1: bloomar consensus for two thousand jobs would meet that target.
Speaker 1: They do think it will take a little bit longer
Speaker 1: for the unemployment rate to start going up because there
Speaker 1: are so many job openings that people who lose their
Speaker 1: jobs can find another job. One interesting thing to watch
Speaker 1: today will be whether we see any kind of similar
Speaker 1: move into the labor force. We got seven hundred and
Speaker 1: eight six thousand people who came into the labor force
Speaker 1: in August, which is an extraordinary number. Um. I don't
Speaker 1: think that will happen again, but if we do see that,
Speaker 1: that could push the unemployment rate lower. Now, because we have,
Speaker 1: of course seen some pretty up big upside surprises on
Speaker 1: payrolls in the last couple of months. Here is that
Speaker 1: a possibility still that we could get an outsized payrolls
Speaker 1: number this morning. Definitely a possibility, and there is a
Speaker 1: feeling among some on Wall Street that that's what we're
Speaker 1: going to get. Uh. They see strength in in a
Speaker 1: lot of the numbers that go into your guests about
Speaker 1: what payrolls are going to be. That would probably scare
Speaker 1: the pants off the markets, though, because then they start
Speaker 1: with the theme of the FED higher for longer. It
Speaker 1: depends on how much it is. We have seen payrolls
Speaker 1: come in higher than forecast for the past five months,
Speaker 1: but they have sequentially for the most part, been down
Speaker 1: in four of the five months. So if that continues, uh,
Speaker 1: then the Fed is happy even if it's a little
Speaker 1: bit above two fifty five. But if it's a lot
Speaker 1: we go well into the threes, then there is going
Speaker 1: to be concerned that the Fed's medicine isn't working yet. Now.
Speaker 1: The medicine, of course, is to get inflation down, but
Speaker 1: of course the FED also has a dual mandata price
Speaker 1: stability and maximum employment. It's a tricky balance for this
Speaker 1: Federal Reserve to strike it is, and the hard part
Speaker 1: for the FED is this is a labor market that
Speaker 1: has been very tight and companies have still been looking
Speaker 1: for workers. Now we're starting to see some of the
Speaker 1: job vacancies go away, and some companies are putting any
Speaker 1: hiring plans on hold, but there's still a lot of companies,
Speaker 1: particularly in leisure and hospitality, who haven't been able to
Speaker 1: fill all the jobs that they had coming out of
Speaker 1: the pandemic, who might still be looking to add workers.
Speaker 1: So there is a danger that we could see stronger
Speaker 1: than expected job growth, and that raises the possibility of
Speaker 1: stronger than expected wage growth as well. Is that something
Speaker 1: else you're looking out for. That's something else we're watching.
Speaker 1: The FAT, of course, wants to see, uh the average
Speaker 1: hourly earnings on a year over year basis start to
Speaker 1: fall back a little bit, not because they don't want
Speaker 1: you to get paid, but they don't want to wage
Speaker 1: price spiral, and they think that the five percent level
Speaker 1: we're at five point two percent annually last month is unsustainable.
Speaker 1: If you get to three percent, then that's a sustainable level,
Speaker 1: and it would fit with the level of inflation they're
Speaker 1: trying to get to. So they'll be watching that as well,
Speaker 1: and with labor markets still tight, it's very possible we
Speaker 1: see that exceeded. Now. We have, at least in an
Speaker 1: individual car company basis, heard a number of reports of
Speaker 1: layoffs coming in. Is that something that we could see
Speaker 1: play out in the data we've got about a minute
Speaker 1: left hand, Probably not so much. The number of companies
Speaker 1: who uh layoff people every month is very large. We
Speaker 1: see a big churn in the labor force, it's the
Speaker 1: net number that matters, and we haven't seen huge layoffs.
Speaker 1: We've just seen some, as you say, individual companies letting
Speaker 1: people go. More companies have said perhaps that they're not
Speaker 1: going to add anybody, but not uh, not fire anybody.
Speaker 1: That's kind of the next stage of things, which we
Speaker 1: might not see until next year. Thanks, Mike'll let you
Speaker 1: go get your wheaties. We know you'll be busy in
Speaker 1: the next couple hours here when those numbers come down
Speaker 1: eight thirty am. Wall Street Time, Bloomberg Global Economics and
Speaker 1: Policy correspondent Michael McKee will be back with us on
Speaker 1: Bloomberg Radio and Television to break down those numbers, and
Speaker 1: we will have analysis for you throughout the morning, including
Speaker 1: reaction from Labor Secretary Marty Wall. She's gonna join us
Speaker 1: in the nine am hour following the release of September payrolls.
Speaker 1: Tune back in for that conversation here on Bloomberg Radio,
Speaker 1: or you can watch it as we say on Bloomberg Television.
Speaker 1: Looking ahead to the market open Mixed action SMP futures
Speaker 1: down five points, STOW futures up twenty two NASDAC Future
Speaker 1: is moving lower, down fifty one point in the tenure
Speaker 1: Treasury is down five thirty seconds, yield three point eight
Speaker 1: four per cent. You're listening to Bloomberg Daybreak on this
Speaker 1: jobs Friday morning, Bloomberg eleven three oh weather, sunshine in
Speaker 1: a high near seventy five degrees to end this week,
Speaker 1: It's gonna be cooler, still sunny for the weekend. High
Speaker 1: near sixty tomorrow, low sixties on Sunday sixty one. Right
Speaker 1: now in Central Park Markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, to Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg
Speaker 1: Business Flash and I'm Karen Moscows and key. Futures that
Speaker 1: will change this morning ahead of this September jobs or four.
Speaker 1: Let's go to the first word Breaking news dance for
Speaker 1: today's morning call, and here's Bill Maloney. Bill, good morning, Hey,
Speaker 1: good morning, Karen. You as futures are trading mixed right now,
Speaker 1: with our futures higher by thirty eight points. Like you said,
Speaker 1: smp s are a little changed. Nastic futures are lower
Speaker 1: by thirty eight the US ten year to three point
Speaker 1: eight four percent, Gold is down three oil is climbing,
Speaker 1: and bigcoin is lower by half a percent. Hong Kong
Speaker 1: fell one and a half percent overnight, while up markets
Speaker 1: are quiet this morning. And back in the US on
Speaker 1: the economic front at the thirty v September jobs report,
Speaker 1: and at ten o'clock, who sell inventories After develous night
Speaker 1: am DS preliminary earning spell short of expectations by more
Speaker 1: than a billion shares, It down five point five percent
Speaker 1: pre market, and on these credit sweet aims to buy
Speaker 1: back three billion worth of debt. Wrapping things up, Goodman
Speaker 1: Sachs was raised to outperform over at KBW Live from
Speaker 1: the first Breaking News. That's scom Bill Maloney, Karen, all right, Bill, thanks,
Speaker 1: and here live breaking news over Bloomberg time, squawk on
Speaker 1: your terminal, s qu A w K and that's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with more un
Speaker 1: musk going on around the world. Michael Karen, thank you
Speaker 1: very much. President Joe Biden said the US is trying
Speaker 1: to find an off ramp for Russian President Vladimir Putin
Speaker 1: and buries his threats to use tactical nuclear weapons are
Speaker 1: real and could lead to harmageddon. Biden made this comments
Speaker 1: at a fundraise you in New York City. This year's
Speaker 1: Nobel Peace Prize has been awarded to jail Belarus rights
Speaker 1: activists Alice Bielotski, the Russian group Memorial, and the Ukrainian
Speaker 1: Organization Center for Civil Liberties. In baseball, the Mets and
Speaker 1: the Padres start their wild Card playoff series tonight Thursday
Speaker 1: Night Football. The cold speat the broncost twelve nine in
Speaker 1: the game where no touchdowns was scored. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than journalists and analysts more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg, Karen, right,
Speaker 1: Michael Barr, thank you. It is sixty nine on Wall Street,
Speaker 1: and we turned to news and science and technology Now
Speaker 1: with the Bloomberg n j I T Stammer Report brought
Speaker 1: to you buy New Jersey Institute of Technology, whose n
Speaker 1: j II unit has joined with pharmaceutical giant Murk to
Speaker 1: establish the Murk Digital Sciences Studio to support drug discovery
Speaker 1: and development. More at n j I T dot Edu
Speaker 1: and here's just making news in science, technology, engineering, and math.
Speaker 1: Strong winds carried extreme heat from the western US, Canada
Speaker 1: and the Atlantic Ocean over Greenland in September, bringing average
Speaker 1: temperatures more than eight degrees celsius above the thirty year
Speaker 1: average and causing record i smelt. Almost all of Greenland
Speaker 1: experience the highest average temperatures in any month of September,
Speaker 1: peaking in early September since records started in nineteen seventy nine.
Speaker 1: Google will open its first data center in Japan next
Speaker 1: year as part of increasing investment in the world's third
Speaker 1: biggest economy. The new facility aims to accelerate the operation
Speaker 1: of Google tools and services, support economic activity and jobs,
Speaker 1: and connect Japan with the rest of the global economy.
Speaker 1: And Tesla will deliver its first semitrucks to Pepsi. It
Speaker 1: comes five years after Elon Mush showed off prototypes. Test
Speaker 1: Lee will compete with other makers of battery powered big rigs,
Speaker 1: including relative newcomer Nicola and more established firms like Volvo.
Speaker 1: And that's the Bloomberg and j I t Stem report. Nathan,
Speaker 1: Thanks Karen, We're live from the Bloomberg Interactive Brokers studio.
Speaker 1: Was worth six fifty on Wall Street Time not to
Speaker 1: check what's going on in d C. Some of the
Speaker 1: top stories in our nation's capital include President Biden's warnings
Speaker 1: of the threat of nuclear armageddon from Russia, the President
Speaker 1: issuing a blanket pardon for marijuana convictions, Democrats reeling over
Speaker 1: the OPEC plus decision that threatens their mid term outlook,
Speaker 1: and former President Donald Trump's superPAC now buying ads for
Speaker 1: the first time. And key Senate raceist. Bloomberg Government reporter
Speaker 1: Emily Wilkins is here now for more on all of
Speaker 1: these stories. Emily, some very stark words on Russia last
Speaker 1: night from President Biden at that fundraiser. Yeah, Biden is
Speaker 1: really saying that he's trying to find what he's calling
Speaker 1: an off ramp for Putin. He's concerned about the Russian
Speaker 1: leaders discussion of these using nuclear weapons and is trying
Speaker 1: to find some way to de escalate that before it
Speaker 1: gets to that point. Nathan, this is a little bit
Speaker 1: different than what we've heard in the past from the
Speaker 1: Obama sorry, from the Biden administration. We've heard National Security
Speaker 1: Advisor Jake Selivan say last week that Putin's common it's
Speaker 1: on nuclear weapons. Were just another similar comment in a
Speaker 1: long line of remarks he's made since February. But Biden
Speaker 1: seems to be taking the comments a little bit more seriously.
Speaker 1: We've obviously obviously seen the Russian military struggle a lot
Speaker 1: in recent weeks, and we've seen and that could potentially
Speaker 1: lead to Puten looking re looking at that potential threat
Speaker 1: of nuclear weapons. It seems like it's something that that
Speaker 1: Biden is taking seriously. He's not taking off the table
Speaker 1: at this point. And it also raises real questions about
Speaker 1: exactly how the Russian War Russian Ukrainian War is going
Speaker 1: to be ending at this point. The US has continued
Speaker 1: to pledge military assistance funding for Ukraine, but I think
Speaker 1: there's also a real question as to what exactly comes
Speaker 1: next and how this ends. Yeah, I want to get
Speaker 1: into that a little bit. What are some of the
Speaker 1: potential off ramps here, given that the war is intense
Speaker 1: to find that Ukraine is making this counter offensive here
Speaker 1: and continuing to get billions in aid for the US
Speaker 1: and the NATO allies as well. I mean, the US
Speaker 1: does feel pretty good about how Ukreate is responding at
Speaker 1: this point because of recent victories. We've seen them, note,
Speaker 1: pushing Russians out of territory that they were trying to
Speaker 1: annext making a lot of games in the country, and
Speaker 1: so I feel like there is a sense that things
Speaker 1: are turning in favor of the Ukrainians at this point,
Speaker 1: but of course Russia is still in the country, they
Speaker 1: are still using attacks, and they have a bit of
Speaker 1: a ways to go at this point until we see
Speaker 1: any sort of resolution for this conflict. Another, of course,
Speaker 1: key thing to be watching is the sentiment within Russia.
Speaker 1: We have seen protests from the Russian people concerned about
Speaker 1: the military of the draft um how young men are
Speaker 1: being recruited for the army at this point, and so
Speaker 1: I think those are both really big factors to keep
Speaker 1: an eye on when we consider what the future of
Speaker 1: this conflict is. Of course, as geopolitics, continue to intensify.
Speaker 1: We got this really interesting announcement, a big move from
Speaker 1: the president on marijuana policy. Yeah, Biden has taken some
Speaker 1: big steps on marijuana. This the Bills campaign promise for
Speaker 1: him to really address this issue. And what he's done
Speaker 1: is a couple of different things. The biggest one is
Speaker 1: that he's pardoned all federal offensive for simple possession of marijuana.
Speaker 1: So for the thousands who were charged with a federal crime,
Speaker 1: like convicted of a federal crime of simply just having
Speaker 1: marijuana on their person. Uh, they are now federally pardoned.
Speaker 1: This impacts thousands of people, and Biden encourage governors to
Speaker 1: do the same for state level offenses. Uh. You know,
Speaker 1: Biden said in the statement that people of color have
Speaker 1: been disproportionately arrested, prosecuted, and convicted of crimes dealing with marijuana. Um,
Speaker 1: and that through this he's he's trying to really, uh
Speaker 1: seek to address some of those inequalities in the law. Uh.
Speaker 1: He's also called on his Attorney general to review federal
Speaker 1: laws around marijuana. Now it's not fair how long that
Speaker 1: review is going to be or what could be the
Speaker 1: outcome of it, but certainly, Nathan, we've seen a number
Speaker 1: of states go ahead decriminalized marijuana, allow it for medical reasons,
Speaker 1: allowed for recreational reasons, and this seems to be the
Speaker 1: federal government kind of following the lead of so many states.
Speaker 1: It's hard to ignore the timing of this announcement though,
Speaker 1: emily coming just a month before a mid term election.
Speaker 1: Should we talk about the politics of this move? I mean,
Speaker 1: we can absolutely talk about the politics of this vote.
Speaker 1: I mean, Biden said in his own statement that has
Speaker 1: had a large impact on people of color, on minorities.
Speaker 1: Those are groups that Democrats are very much trying to
Speaker 1: target ahead of the mid terms. They saw in twenty
Speaker 1: twenty that they couldn't take the Hispanic vote for granted.
Speaker 1: The black vote, of course, is a key part of
Speaker 1: the Democratic block, and it's a mid term and so
Speaker 1: getting people to the polls, encouraging them to come out
Speaker 1: and to vote, that's going to be a big part
Speaker 1: of any victory that we see on election night. So
Speaker 1: certainly there there's a little bit with the with the
Speaker 1: timing that phraises an eyebrow and kind of has people asking,
Speaker 1: you know, how much of this is is political and
Speaker 1: how much of this is actually policy? And We got
Speaker 1: some interesting timing as well on former President Donald Trump
Speaker 1: stepping in with money for the first time in some
Speaker 1: heavily contested Senate race. Isn't this mid term? Yeah, Trump
Speaker 1: is a prolific fundraiser, but he hasn't been quite as
Speaker 1: active financially with a lot of these very competitive races.
Speaker 1: And now we see him just a couple of weeks
Speaker 1: before the election starting to put his money where his
Speaker 1: mouth has been, backing candidates that he has endorsed in
Speaker 1: Ohio and Pennsylvania. Of course, that's a doctor Oz in
Speaker 1: Pennsylvania who's reading for Senate, and then j D Vance
Speaker 1: in Ohio trumps book two point one million and advised um. It's,
Speaker 1: you know, kind of an overall drop in the bucket
Speaker 1: for for what we've seen going ahead and being spent um,
Speaker 1: but it's really making a plush and it comes at
Speaker 1: a time where Democrats are actually a little more likely
Speaker 1: to win the control all of the Senate. That's what
Speaker 1: we're seeing from a lot of projections, including a five
Speaker 1: thirty eight UM. But of course at this point it's
Speaker 1: very close. It's still anyone's game, and we're seeing Republicans
Speaker 1: get an advantage, particularly in Pennsylvania. We had seen Democratic
Speaker 1: nominee John Futterman, we have a big lead. Now we're
Speaker 1: seeing doctor Oz cutting into that, really getting up on
Speaker 1: the air, really pushing the issue of crime. Uh and
Speaker 1: that seems to be working out in Republicans favor. And
Speaker 1: Pennsylvania is a is a very key state for Democrats.
Speaker 1: It is their best opportunity to pick up a seat
Speaker 1: uh for the Senate UM and that they would need
Speaker 1: to do that, especially because they are defending seats in
Speaker 1: states like Georgia, uh and in Nevada. Yeah, election days
Speaker 1: getting closer. Thanks for this, Emily. As always, Bloomberg Government
Speaker 1: reporter Emily Wilkins with us in Washington. Read more about
Speaker 1: these stories on Bloomberg dot Com or on the Bloomberg Terminal.
Speaker 1: Listen to Bloomberg Radio in Washington Bloomberg one and one
Speaker 1: oh five point seven FM HD two. You're gonna want
Speaker 1: to keep it right here for the release of September
Speaker 1: payrolls out at eight thirty am, Wall Street time and
Speaker 1: reaction from Labor Secretary Marty Wall She's gonna join us
Speaker 1: in the nine am hour right here on Bloomberg Radio
Speaker 1: and on Bloomberg Television. Head of the market open. SMP
Speaker 1: futures are down two points down futures are up thirty one.
Speaker 1: Nasdaq futures are lower by forty four points. Bloomberg Surveillance
Speaker 1: is next to Tom Keene, Jonathan Faroe, and Lisa Abramowitz.
Speaker 1: For Karen Moscow. I'm Nathan Hagar. This is Bloomberg broadcasting
Speaker 1: live from the Bloomberg Interacted Broker's studio in New York.
Speaker 1: Bloomberg Living Freedom to Washington, d C, Bloomberg nine one
Speaker 1: to Boston, Bloomberg one O six one to San Francisco,
Speaker 1: Bloomberg nine sixteen to the country, Sirius XM to the
Speaker 1: one nine team, and around the globe the Bloomberg Business
Speaker 1: apt and Bloomberg Radio dot Com. This is Bloomberg Daybreak
Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow, and we are just about three
Speaker 1: hours away from the open of US trading. Time for
Speaker 1: the five things you need to notice start your day.
Speaker 1: Brought to you by Interactive Brokers i b k R.
Speaker 1: Event Trader offers a new way to trade futures. Use
Speaker 1: event contracts to trade your opinion on yes or no
Speaker 1: questions in key CME futures markets. Learn more at event
Speaker 1: trader dot Interactive Brokers dot com. Up First, we heard
Speaker 1: hawkish comments from no less than five officials yesterday, including
Speaker 1: Minneapolis FED President Neil cash Cary. I fully expect that
Speaker 1: there are going to be some losses and they're going
Speaker 1: to be some failures around the global economy as we
Speaker 1: transition to a higher interest rate environment, and that's the
Speaker 1: nature of capitalism in Minneapolis, FED President Neil Cash car
Speaker 1: age as a central bank is quite a ways away
Speaker 1: from pausing rate hikes. Likewise, Karen FED Governor Christopher Waller
Speaker 1: emphasized the need to bring down an inflation. I believe
Speaker 1: we have tools in place to address any financial stability concerns,
Speaker 1: and we should not be looking to monetary policy for
Speaker 1: this purpose. The focus of monetary policy needs to be
Speaker 1: on one day fighting inflation. Governor Chris Waller says the
Speaker 1: FED needs to continue to raise interest rates into next year.
Speaker 1: We also heard hawkeys remarks from Cleveland FED Chief Florid
Speaker 1: Semester FED Governor Lisa Cook, and Chicago's Charles Evans Well.
Speaker 1: Taking a look at markets now, Nathan u Stock indise
Speaker 1: futures are lower following those comments, plus week earnings from Shipmakers.
Speaker 1: Jessica Beamer's portfolio manager with Easterly Investment Partners, interest rates
Speaker 1: have really been a dominant story since mid August and
Speaker 1: it's created some panic and equity markets is around housing
Speaker 1: m and a financing, you know, rolling dead. I think
Speaker 1: people are really worried about kind of how those rates
Speaker 1: are going to affect individual companies, and Justin a Beamer
Speaker 1: with Easterly Investment Partners says we're only starting to get
Speaker 1: hints to the full impact of rate hikes. One of
Speaker 1: those could come today. Karen in the September Jobs Report
Speaker 1: to at eight thirty am Wall Street Time. Stick with
Speaker 1: us for live coverage all morning, plus conversation with US
Speaker 1: Labor Secretary Marty Walsh live in the nine am hour
Speaker 1: on Bloomberg Radio and Television. And we have an update
Speaker 1: on Elon Musk and Twitter this morning. And Delaware judges
Speaker 1: halted the mid October court case against Musk to allow
Speaker 1: his deal to buy Twitter to close. And we have
Speaker 1: three winners of this year's Nobel Peace Prize. Karen Alas
Speaker 1: b Alatsky from Belarus, a Russian human rights organization memorial,
Speaker 1: and the Ukrainian rights group Center for Civil Liberties have
Speaker 1: all won the Nobel Peace Prize. And that's the five
Speaker 1: things you need to notice start your day. Brought to
Speaker 1: you by Interactive Brokers and SMP. Futures are lower this morning,
Speaker 1: down six points, straight ahead, your latest local headlines, plus
Speaker 1: a check of sports. And this is Bloomberg all right,
Speaker 1: thanks Karen. It is six thirty three on Wall Street
Speaker 1: in Central Park. Still dealing with the lads and the
Speaker 1: white Stone Bridge at that acts, then heading into Queen's.
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: An afternoon and the bronx turned into a frightening moment.
Speaker 1: Authorities in New York City say ten people were injured,
Speaker 1: including two young children, when a police cruiser collided with
Speaker 1: another vehicle and crashed onto a sidewalk in My p D.
Speaker 1: Chief of Patrol Jeffrey Madre said the patrol car was
Speaker 1: responding to a call and trying to get around a
Speaker 1: vehicle at an intersection when the crash happened. There's an
Speaker 1: investigation unit. It's conducted investigation. They'll continue to talk to witnesses.
Speaker 1: They'll continue to find video, and they'll continue to piece
Speaker 1: together exactly what happened here. The NYPDS Jeffrey Madre says
Speaker 1: there are no major injuries. A federal judge struck down
Speaker 1: New York State's new law banning guns in certain public areas.
Speaker 1: The law was created in response to a Supreme Court
Speaker 1: ruling striking down another New York law that restricted who
Speaker 1: could own a gun. Now, officials are concerned about guns
Speaker 1: being carried into crowded areas like Time Square. President Biden
Speaker 1: paid a visit to an IBM campus in Poughkeepsie, New York, yesterday.
Speaker 1: He talked about semi conductor chips American Vinity chips. They
Speaker 1: powered Nassa's first Moon mission, the President Kennedy inspired here
Speaker 1: in America. President Biden also emphasized creating jobs in the
Speaker 1: US and lowering costs. Hunter Biden's legal team is slamming
Speaker 1: federal investigators and even accusing them of misconduct, writing it
Speaker 1: as a felony to leak information. Several media outlets, including
Speaker 1: The Washington Post, reports federal agents believe they have enough
Speaker 1: evidence to charge President Biden's son with tax crimes and
Speaker 1: lying on the federal form when he bought a gun.
Speaker 1: Horrific scene on the Las Vegas Strip where police say
Speaker 1: eight people were stabbed in a string of allegedly unprovoked attacks.
Speaker 1: At least two of the victims were killed, six wounded,
Speaker 1: including several and critical condition. Las Vegas Metropolitan Police Deputy
Speaker 1: Chief James la Rochelle it's just clearly a very tragic
Speaker 1: to understand, hard to comprehend murder investigation that deeply impact
Speaker 1: our community. Deputy Chief La Rochelle says a large knife
Speaker 1: has been recovered. A member of the Proud Boys has
Speaker 1: admitted his role in the Capitol attack. Jeremy Bertino in
Speaker 1: North Carolina pleaded guilty to seditious conspiracy. Bertino has also
Speaker 1: agreed to cooperate and help federal agents with their investigation.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg quick Take, powered by more than twenty seven
Speaker 1: hundred journalists and analysts more than one d twenty countries.
Speaker 1: Michael Byron, this is Bloomberg Nam. Thanks Michael. Almost six
Speaker 1: thirty six on Wall Street, John Stashire has a Bloomberg
Speaker 1: Sports update, Thanks Nayan. The baseball post season begins today.
Speaker 1: The new format makes its debut. There used to be
Speaker 1: a single wild card game in each league. Now there
Speaker 1: are four best of three wild cards series. He put
Speaker 1: in the Mets and Padres and City Field, and Mets
Speaker 1: forced end of this series when they came up just
Speaker 1: word of winning the Vision. Pete Alonzo was asked about
Speaker 1: last weekend when they got swept in Atlanta. People look
Speaker 1: at the look at the Atlanta series, uh, and they
Speaker 1: think that's the that was the determining factor. But to
Speaker 1: be honest with you, um, we we got swept by
Speaker 1: the Cubs like three weeks prior. So um, if we
Speaker 1: didn't get swept, if we had one more game or
Speaker 1: if you look at um, I don't know the sixties
Speaker 1: some other games were it was closed interest tonight, Max Scherzer,
Speaker 1: you Darvis sounds like the mess. If they win tonight,
Speaker 1: we'll start Chris Bassett tomorrow night. Then they would have
Speaker 1: Jacob ground for either Game three Sunday or Game one
Speaker 1: next Tuesday in l A. If they lose tonight, they
Speaker 1: would start to Gron tomorrow. Yankees asked some decision to
Speaker 1: make on their roster for the a l D asked
Speaker 1: against either Cleveland or Tampa Bay. Aaron Boone hit to
Speaker 1: then Matt Carpenter, who's been out since he broke his
Speaker 1: foot in early August, ready to return, could be used
Speaker 1: as the pinch hitter off the bench. Week five Underway
Speaker 1: Indianapolis one at Denver twelve to nine and overtime Colts
Speaker 1: QB Matt Ryan called this game a slog of a
Speaker 1: game at what on ten sacks for interceptions, no touchdowns.
Speaker 1: Giants in London get ready for the Packers Sunday morning,
Speaker 1: New York Time. Giants just signed safety Landon Collins, who
Speaker 1: in his first date with the Giants with three time
Speaker 1: pro bowler all the preseason, but the Nets Boston home
Speaker 1: to Miami by twenty nine. Islanders beat the Devil's. New
Speaker 1: NHL season starts next three. Josh Dash, bloom Group Sports,
Speaker 1: Nathan all right, John, thank you. Six thirty seven on
Speaker 1: Wall Street. Time to take a look at stuck, some
Speaker 1: of the names moving in the pre market. Bloomberg Radio
Speaker 1: and TV Markets correspondent Pretty Gufta. We're continuing to keep
Speaker 1: an eye on what is happening between Twitter and Elon Musk.
Speaker 1: It looks like the buyout saga goes on still, Yeah, perpetually,
Speaker 1: it seems it never quite ends. And what's interesting here
Speaker 1: is this came after during the afternoon actually yesterday, we
Speaker 1: got some news that the deal is set to be
Speaker 1: contingent on receiving thirteen billion dollars in debt financing. No, remember,
Speaker 1: we knew this that he was trying to have the
Speaker 1: starting to have some of these financing issues. And one
Speaker 1: of the reasons that Twitter shares were lower yesterday actually
Speaker 1: was simply the idea that does that mean that his
Speaker 1: offer for Twitter as the entire company will drop below
Speaker 1: fifty to four dollars and twenty cents up per share
Speaker 1: of that being said, after that news, the idea that
Speaker 1: it's going to be contingent on the debt financing, which
Speaker 1: already doesn't look too rosy. You saw the stock drop
Speaker 1: about ten percent this morning, though Nathan a little bit
Speaker 1: of whip saw the action, if that's the word here,
Speaker 1: You do have um the stock both negative and pausitive
Speaker 1: territory in the first couple of hours of pre market trading.
Speaker 1: Now is just sitting unchanged. So really keep an eye
Speaker 1: on Twitter shares t w t R A taker and
Speaker 1: of course we'll give you updates throughout the hour as well.
Speaker 1: But Nathan, there's a sector that you have to keep
Speaker 1: an eye on and those chip stocks, because that's where
Speaker 1: you're seeing some real movement really contributing to what could
Speaker 1: happen on the macro level as well. So think about
Speaker 1: the likes of advanced micro devices and video Intel. This
Speaker 1: coming after Samsung and a m D both reported some
Speaker 1: pretty disappointing figures within just hours of each other. The
Speaker 1: issue here is um, Nathan. I'm sure you've heard of
Speaker 1: DOW theory or or GM theory, the idea that the
Speaker 1: economy it's going to kind of take its um indication
Speaker 1: or extold economists will take their indication of how the
Speaker 1: economy is doing by how many cars Americans are buying,
Speaker 1: or how much gas they're spending or whatever. The new
Speaker 1: theory here is is chip theory, which is the amount
Speaker 1: of healthiness in the chip sector, just given our dependence
Speaker 1: on technology and how much everything UM really relies on chips.
Speaker 1: So if these chip companies aren't doing well, then for
Speaker 1: a lot of people on a macro basis, that signals
Speaker 1: that there is a deteriorating climate here. So a m
Speaker 1: D is one example, down about five point six percent
Speaker 1: have Nvidia n B d A, the heavyweight down three
Speaker 1: point two percent, and of course Intel I NTC down
Speaker 1: about three percent as well. Nathan, No, in our last
Speaker 1: thirty seconds, CRE have to think investors in cannabis companies
Speaker 1: have to be feeling good after what the President had
Speaker 1: to say yesterday. You know they initially did, because you
Speaker 1: did have a rally and some of those that cannabis
Speaker 1: company stocks. President Biden pardoning thousands of Americans for possession
Speaker 1: of marijuana and ordering a review of its legal status
Speaker 1: once again kind of feeling the hopes decriminalization. But this
Speaker 1: morning Nathan's turnaround story, Till Rate t l r Y
Speaker 1: down one and a half percent. Uh, and Chronos for example,
Speaker 1: c r o N down six tents of a percent.
Speaker 1: So not a ton of green there, alright, green, very good,
Speaker 1: thank you, Bloomberg Radio and TV Markets correspondent, pretty grouped.
Speaker 1: Taking a look at stocks as a whole. Yeah, not
Speaker 1: a whole lot of green there either. SMP futures are
Speaker 1: down four points, staff futures touch higher, up nineteen NASDAC
Speaker 1: futures on the decline, though, down forty five points. You're
Speaker 1: listening to Bloomberg Daybreak, Bloomberg eleven three oh weather sunny
Speaker 1: and pleasant for one more day today, high in your
Speaker 1: seventy five degrees. We'll stay sunny this weekend, but it's
Speaker 1: gonna be cooler tomorrow, only your sixty degrees low sixties
Speaker 1: for Sunday. Sixty one is our current temperature in Central
Speaker 1: Park