Live from the Bloomberg Interactive Burger Studios. This is Bloomberg day Break for Tuesday, February one. Coming up today, President Biden stops in Poland after yesterday's surprise visit to Ukraine. HSBC considers a special payout after profit jumps. Walmart and Home Depot report earnings this morning, and results are in from the largest ever four day work week trial. New quakes in Turkey and Syria have left more dead, plus New York Congressman George Santos admits he's a terrible lawyer.
I'm Michael Barr. More ahead, I'm John Stas shown sports, the Rangers lost to Winnipeg. The Islanders one in Pittsburgh Bay Yankees held their first full team workout. That's all straight ahead on Bloomberg day Break, The Business news you need disturb your day, and just one fifteen minute podcast each pointing on Apples, Spotify, the Bloomberg Business app and everywhere you get your podcasts. Good morning. I'm Nathan Hagar and I'm Karin Moscow. Here are the stories we're following today.
The latest on President Biden's surprise trip to Ukraine. President is now in Poland. He'll meet with President Andre Doodap and he's scheduled to deliver an address tonight. Amy Morris has details from our Bloomberg newsroom in Washington. President Biden will use his address in Poland to deliver a message to Russia that NATO is stronger than ever united in its support of Ukraine. While in Kiev, President Biden said his goal was to reaffirm his administration's unwavering and unflagging
commitment to Ukraine's democracy, sovereignty, and territorial integrity. It's worth for as long as it takes. And that's how long we're gonna be with you, Mr President, for as long as it takes. In his remarks, the President also announced an additional half billion dollars in aid for Ukraine in Washington. I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you all. Turning to the markets now, stocks are lower as you begin a shortened trading week, and they'll drop even further.
According to Morgan Stanley, the firm strategist led by Mike Wilson, says the S and P five hundred could slide as much as in the first half of this year. Wilson, you correctly predicted the sell off in stocks last year, says recent economic data suggests the economy might be able to dodge your a session, but that has also taken the possibility of a FED pivot off the table, and Goldman Sachs also doesn't see a FED pivot this year. Karen Chief economist John Hatzius sees the Central Bank raising
interest rates by twenty five basis points. That it's March, May and June meetings. We've seen some higher inflation numbers for January. I don't necessarily think that that breaks the trend towards this inflation, but I think it reinforces the idea that the FED still has work to do, and so we think another seventy five basis points from here with no cuts until two thousand and twenty four seems
like a more likely outcome. Goldman Chief economist John Hatzius is skeptical that the FED will return to larger fifty basis point hikes. Bank earnings also in Bocus overseas this morning, Nathan HSBC reported profit above estimates. The lender also said it will consider a special payout after the ten billion dollar sale of its Canadian unit. Speaking to Bloomberg, HSBC is CEO nol Quinn also gave an upbeat assessment of the British economy. We're not seeing any major signs of
stress at the moment in our retail business. Uh, it's it's in relatively normal territory. In our wholesale and commercial banking business. I think there are some corporates that are starting to feel some cash flow pressure because of hiring, inflation on higher interest rates, but again that's still fairly marginal, I would say at the moment. For us HSBC CEO Noel Quinn says the bonus pool for the bank has been cut to three point three six billion dollars, down
from three and a half billion last year. The world's biggest mining company has posted profit that fell short of estimates. B HP is also cutting its dividend after sluggish demand for iron, copper and call. However, CEO Mike Henry is optimistic going forward. We're seeing the green shoots come through since the start of this calendar year. Increased mobility figures, more bank lending, improved business sentiment, property prices up in some cities, so that kind of reinforces the positive outlook
for the that we have for the year ahead. Which we expect to offset slowing growth in both the US and Europe. B HP CEO Mike Henry says he's also optimistic about a demand recovery in China. B HP shares right now are down nearly three percent. In London, shares a Credit Suite at a record load this morning, Nathan. The drop comes as Reuter's reports at Switzerland's financial regulator
is reviewing comments from a Bloomberg interview. It's looking at part of a conversation where Chairman Actual Lehman set outflows from Credit Suite of stabilized. And here's what he said from that interview in December. Doubt was basically have stopped. What we saw is two three weeks in October womb and since then flattening out, they have stopped. It's gradually coming back, and particular in Switzerland, and that's Credit Swite
chairman Actually Lehman speaking to Bloomberg in December. So far, both Switzerland's financial regulator and Credit Suite are declining to comment on Reuter's report. Well back here the US Karen retail will be in focus this morning. Is both Walmart and Home Depot report earnings. Let's get a preview of Walmart's results now with Bloomberg's Jeff Ballinger. Walmart's own guidance for the fourth quarter was for a same store sales
gain of around three percent. Bloomberg Intelligence says the giant retailer had a solid holiday season and sales may have exceeded the forecast as consumers look for value. Walmart has said it's adjusted profit likely declined because labor and other costs remain high, but the company has been pushing back
on further price increases by suppliers. Discounts and a shift in the consumer spending mixed toward more food and less general merchandise may have caused a small contraction in gross margin. Jeff Bollinger, Bloomberg day Break, Right, Jeff, thanks well over in the UK, results are in from the largest ever trial of the four day work week, and we go live to London and get the details from Bloomberg's You in Parts. Good Morning, You in Good morning Karen Nathan,
how do you fancy a permanently shorter working week? While the world's biggest ever trial of a four day work week has found that most companies say they don't plan to return to the five day standards. The UK study involves sixty organizations and nearly three thousand workers compressing their normal week into fewer days. When employees were asked about returning to the old schedule, one in six said that no amount of money will be enough to persuade them
to go back. In London working a five day work week, I'm you in parts day break, Thanks you and local headlines. Straight ahead, This is Bloomberg. Thirty eight degrees in New York. Scattered showers this morning. They'll be back late this afternoon as well as we head to near fifty degrees. Will clear out late tonight, get down to the mid thirties. Time Now for a look at some of the other stories making news in New York and around the world,
with Bloomberg's Michael Bark. Good morning, Michael, Good morning Nathan. A pair of earthquakes, including a six point for magnitude, struck Turkeys Southeastern Province, two weeks after major tremors in the same area left tens of thousands of people dead. Three people were killed and more than two hundred taken to hospitals after the quakes on Monday evening. Around one point six million people are currently housed in temporary shelters
from the quakes. Starting two weeks ago, the tensions between the US and China have eat it up even more over the long weekend. Bloomberg's that Baxter as the story, both in words and actions. President Biden's surprise trip to Ukraine and comments saying that China must not form an alliance with Russia regarding the invasion tied to China's top diplomat going to meet Russian leaders in Moscow and shin Wa publishing a long piece criticizing US policy, saying the
US misbehaves from military to cultural. It says the US embeds its values in products. This not even to mention the US congressional delegation in Taiwan meeting with President sighing when in San Francisco, I'm at Baxter Bloomberg Daybreak. He's under investigation by low coal, state and federal lawmakers over a suspected campaign finance violations. New York Republican Congressman George Santos has gotten criticisms from everyday Americans for lying about
his past. Well, I've been a terrible liar. This wasn't about tricking anybody, This wasn't about this it's it's no, no, no, no, let me. It was about tricking. Let me finish. It wasn't about tricking to the people. This was about getting accepted by the party. Here local the Long Island Republicans spoke to talk TV host Pierce Morgan. The NYPD continues to search for the man who vandalized a mobile synagogue in Manhattan. The van was parked near Broadway and Prince Street.
Authorities released video of a man riding Palestine on the outside of a mobile Mitzvah tank. Police say the Hate Crimes Task Force is investigating the incident. Authorities in a New Jersey school district have announced new managures aimed at stemming violence following a stabbing outside of high school last week.
They killed a teenager and wounded another. Patterson Public Schools said that police had agreed to provide walking police patrols on streets around Patterson's East Side High School from two pm to four pm. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalist an analysts in over a hundred twenty countries. I'm Michael bar This is Bloomberg Nathan. Thank you, Michael time for the Bloomberg Sports update brought
to you by Trice State Outy. For that, we're bringing John stash Our, Thanks Nathan. Rangers back home. They came into the Garden red hot seven oh and one of the last eight games. He had a big edge and shots on goldbo Winnipeg goalie Connor Hellabuck made fifty says Mark Sifey scored twice the Jets one four to one first regulation lost with the Rangers in the January nine. Islanders had a big comeback this past Friday against the Penguins.
They did it again in Pittsburgh. They trailed third period. Penguins bring it to the nearest side, Balcon dangerously in front of his net for Joseph quips it off the glass fars but turned it over. Here's more that through the right circle. Shop An let's sit home from the right circle and has tied this game at Chris k to r h ut go for Horvath in New Islander and two minutes later and there's least going his twenty second of the year the Isles one four to two.
College Roops twenty win for Duke in this first season without my succesty Duke beat Louisville, whose record is four and twenty four. Kansas won the n c AS last year. They could do it again. Jay Opson ranked third. They want at TCU Houston at twenty five and two ranked number one the third different time. Russell Westbrook been all those years at Oklahoma City. He's been bouncing around the NBA lately. He was with the Lakers, got traded to Utah,
got bought out there. Westbrook will now signed with the l A Clippers. And Patrick Beverley also was a Laker, and he seems headed now to Chicago. Jana Sons of the Compo came to New York for an exam on his injured risk. He's got a spring ligament, full Yankee squad workout in Tampa. So Aaron Judges first press conference, he was asked about another sixty two home run season.
Judge said, you can never know. John Stash Allen Conberg Sports live from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on Sirius XAMP, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hagar. President Biden will be looking to build on his surprise wartime trip to Kiv when he meets today with the President of Poland and gives a major speech in Warsaw to market year
since Russia's invasion of Ukraine. Meantime, the President of Russia, Vladimir Putin is vowing to press on with his faltering invasion until Russia's goals are achieved. Putin is giving a speech of his own to parliament in Moscow. Right now. We're joined live at the meantime by Bloomberg Warsaw Bureau chief Pyotr Skalamowski as these two leaders get set to address their domestic audiences and the world. Really, Pyotr, good morning.
What is standing out to you? First off, from what the Russian president is saying as we head towards year two of the war in Ukraine. Hi, indeed, so it's obviously probably not a big surprise, but putting it has struck a very defiant note. So he obviously more or less doubles down on on what he's been telling the world since the war since his invasion actually started a year ago. First of all, he said that you know
this is this is go. He will solve what he called the task step by step carefully and consistently, meaning he's preparing his his population also for a for a long war. This is not going to end very quickly. And obviously he repeated the the phrase that he was before, which was also kind of served as a as the purpose for the war previously, that you know, the Russia is finding for for for historic lands, describing Ukraine as
as as part of the of the Russia historically. Um. So we more or less hearing more of the same from Putting and an indication that he has not done, if anything, he's ready to go um go there for a long haul. So, given that we're not hearing much different from the Russian president right now, are you expecting that the remarks that we're hearing from Moscow are going to affect what President Biden has to say at all
when he delivers his speech in Warsaw later this evening. Well, well, we heard from Jake Sullivan he was briefing reporters here in Warsaw. He said that obviously Biden's remarks are not going to um to be directly, uh, won't be a direct response to what Putt inside and his his his remarks will be broked. But obviously it's it's hard to um, you know, to to not to compare these two speeches.
But obviously the message that we're going to get from from Biden most likely will be, uh, sort of the echo what he heard from what we heard from him in Kiev, which is, you know, um, the West State it stands united, So the NATO is together, so the war has has actually united um, the Western NATO, and and that the US is there for a long hall as well. Um. Something that he said in Ukraine was you know, the US is therefore as long as it
takes for Ukraine to to become independent. And he also stressed that, you know, the the Ukraine was supposed to fall within days. Now Ukraine's Ukraine stands, Kiev stands, and what he said, democracy stands. So we can sort of imagine this is going to be the sort of the narrative we're going to hear this, you know, this president
representing the democracy and and Putting representing the autocracy. Given that image that we saw over the weekend of President Biden, you know, standing side by side with Ukrainian President Zelenski and walking through key of his air raid sirens blared. What message does that send to Europe he and allies? And can the President capitalize on that in the speech tonight? Absolutely obviously, you know, as anything with this conflict that
it's obviously for for for history books. But you know the fact that the U. S. President goes into conflict zone in a place where there are no U S. Basis, no actual military presence, is you know, speaks volumes right, it's it's and it and it was not just fly in and out. It's it was a ten hour trip by train through the conflict zone. So it's it's a major message of defiance. And I think it kind of
builds up the momentum for this speech. Um. So if if anyone doubts the words that the Biden is going to deliver that there is there's confident, there's there's defiance, you know, he can just point out to what he has just done, um that you know, the the fact that you know, he he's been there, he's shown support, is you know, speaks volumes um as well as you know all the commitments because obviously, um Biden also promised
additional help. I mean one thing there obviously is that this helper might not be as as substantial as Ukraine was hoping for, because they're obviously pushing for for fighter jets right now there's no approval of that, but um at least you know there's additional help and and there's a sense that the US will will be there for long haul. This is Bloomberg day Break Today, your morning brief on the story is making news from Wall Street
to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three oh in New York, Bloomberg in Washington, Bloomberg one oh six one in Boston, and Bloomberg nine six in San Francisco. Our flagship New York
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