Bloomberg Daybreak: April 1, 2022 - Hour 2 (Radio)

the latest reading on the economy. A Jodge orders New York's Democrat controlled legislature to redraw the states in congressional districts. Plus New Jersey Governor Murphy has covid. I'm Michael bar More ahead, I'm John stashtoward sports over time in Brooklyn, the Bucks, Beef, the Nets, and yet another injury concern

for metsdays. Jacob de Grand. That's all straight ahead on Bloomberg day Break on Bloomberg Even Free on New York Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine six, San Francisco, Sirius x M one nineteen and around the world. Go on Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning. I'm Nathan Hagar. And I'm Karen Moscow in Ustock. Index Future is on the rise this morning. We're coming up to six o

one on Wall Street. I mean check the markets every fifteen minutes throughout the trading day. On Bloomberg Guess and P Future is up twenty three points down. Futures have a hundred seventy eight and nasday Future is up eighty one Tenure Treasury down eighteen thirties seconds two point for zero percent, and they yield on the two year two point three eight percent. Nine X Screwed oil is little

change at a hundred dollars one cents and barrel. Nathan Karen will have more on the markets in a minute, but first we start in Ukraine. Peace talks with Russia are set to resume today. Those negotiations will be by video meantime. Russia says to Ukrainian military helicopters made a strike across the border and hit a Russian oil tank facility. Amy Morris has the latest from our Bloomberg newsroom in Washington.

Kiva is not confirmed the strike in Russia, but did say its forces retook several villages in the cur uson reach into the south. This as President Biden says Vladimir Putin may have detained some of his own advisors. He seems to be self vice slaved, and there's some indication that he has um fired or put in the house arrest some of his advisers. Meanwhile, the United Nations says relief convoys are unable so far to reach Mariopol, but

Russia says it will open a humanitarian corridor there. Today in Washington, I maybe Morris Bloomberg Daybreak right, Amy, thank you China also and focus this morning. European leaders are warning Beijing about involvement in the war. And we go live to Lindon and get the latest with Bloomberry's un parts. Good morning, Uen, Good morning Karen and Nathan. The European Commission's president says China has a special responsibility to demand

Russia respects international law and to defend Ukraine's sovereignty. That's the message that Arson of Vonderli will deliver to Beijing today at a virtual summit expected to be dominated by Russia's war. Europeans are expected to tell China that any help to Moscow to avoid sanctions or to supply weapons will result in severe consequences. Live in London. I'mu and pults day break. Okay, you and thanks. Turning back to markets, now Oils heading for its biggest weekly loss in almost

two years after falling seven percent yesterday. It's little change now with NIME ex scruded a hundred dollars thirty three cents and brented a d eighty four. That's after the White House ordered an unprecedented release of strategic reserves. Democratic Michigan Congressman Damn Killed He says it's a good first step. I don't think by itself it solves the problem, but it's a step. I'd like to see us do a couple other things, but this is a step in the

right direction. People need relief at the pump, and this will make a difference in terms of the prices they're seeing for everything. Congressman Dan Kildy also supports the temporary lift on the federal and state gas tax. He spoke with our Washington correspondent Joe Matthew on Bloomberg Sound On Catch the program weekdays at five pm Eastern on Bloomberg Radio. All Right, Nathan wore Inflation and the lingering impact of the pandemic made the first quarter, a historically rough one

for investors. More than three trillion dollars were erased from on iniquity values in the period. Megan Hornman, chief investment officer at Verdense Capital Advisor, sees the current situation as a buying opportunity. We are also looking at some of the areas that are getting beaten down the most, you know, some of the growth areas that got hit really bad

in January and February. We did put some money to work there, thinking that over the long run that they had been unfairly pushed lower because of what's going on with interest rates as well as the war with Rush in Ukraine. Megan horn Men with Verdense Capital Advisor says earning season will be key for future market action. Well. Questions are swirling about what earnings will look like, Karen, and also whether recessions coming. City Group Global Chief Economist

Nathan Sheet says the odds of that are significant. Globally, uh it's around a third the geo political situation, the energy situation is very severe. I think in the United States we are insulated an notch when I think about kind of the global situation coupled with the federal reserve potential se hiking very rapidly, maybe one in four over the next eighteen months. It is it is significant. City Group Global Chief Economist Nathan Sheets made the comments on

Bloomberg's Balance of Power. Catch that program weekdays at noon Eastern on Bloomberg Radio and Television. Well Nathan mc game more clues about the economy later this morning with the release of the March jobs are poor at the median forecast colls for four nine thousand new jobs at an employment rate of three point seven percent. Became more from

Bloombergy's Michael McKee. Analysts expect March was another strong month of job growth, although borrowing a major surprise, the numbers may not make a whole lot of difference to the Fed policymakers have all but said there in line to raise the nation's benchmark lending rate by half a percentage point on May fourth. Nevertheless, they will feel better if they see a lot of Americans going back into the labor force. That would ease pressure on wages and therefore

on inflation. That's particularly true for manufacturing companies have struggled to find factory workers, leading some to turn away business. Michael McKee Bloomberg Daybreak, Mike. Thanks, Let's send the corporate news now with a focus on the world's largest retail site. The push to unionize that Amazon is growing. Let's get the latest life from Bloomberg's You need a young Good morning, Good morning, Nathan. The upstart Amazon labor union in Staten

Island is closer to forming. Workers who want to organize are leading by more than three hundred and fifty votes out of about dred tallied. That count will continue today. Meantime, Amazon workers in Alabama voted to reject a union in a tight race yesterday, but the National Labor Relations Board says about a quarter of the votes are challenged and will need to be reviewed. Those could potentially change the outcome. Live in New York, I'm gonna need a young Bloomberg Debriak.

We need to thank you. And in early trading this morning, we're seeing shares of Game Stomp up about fifteen per cent. The video game retailer plans to ask shareholders for approval of a stock split in the form of a dividend, and that mayre's recent moves from Amazon, Alphabet, and Tesla, and right now, futures are higher with SMP futures up twenty two point, staff futures up a D seventy fives that teachers up eighty one points. The tenure treasury is

down eighteen thirty seconds. The yield two point four zero percent yield on the two year two point three nine, nim Ex screwed up two tenths percent or twenty cents and a hundred dollars forty eight cents a barrel, and comics gold is down to nine eight announced local headlines and the check of Sports. Up next to this is Bloomberg. It sounds six o seven on Wall Street. Clouds fifty five degrees in Central Park. We've got an accident in Staten Island that's at the lower level of Arizona Bridge.

The tails coming up in traffic. First. Michael Barr with more on what's going on in New York and around the world. Michael, thank you very much. Nathan to Judges ordered New York's Democratic controlled legislature to redraw the state's congressional and legislative districts after finding they were unconstitutional. Judge Patrick McAllister said in the ruling that maps redrawing the

states congressional district were Jerrymander to benefit Democrats. Judge McAllister gave lawmakers until April eleventh to try again, and if their new maps fail to pass muster in the courts, the judge said he would order the state to pay for a court approved expert to redraw the maps. The NYPD says a twelve year old boy was killed by gunfires he was eating in a parked car in Brooklyn with two family members, one of whom was shot and wounded.

Assistant Chief Michael Kemper's said the boy was shot multiple times and pronounced dead at the scene. A preliminary investigation reveals that the three pulled over in the car to eat some food when shots were fired that penetrated their vehicle. Kempers said a twenty year old woman and the driver's seat was taken to the hospital and is expected to recover. An eight year old girl in the back seat was unhurt. New York City Mayor Eric Adams, also at the news conference,

stressed the importance of getting guns off the streets. The question I can see to ask, what about the innocent people? What about people that sending their cause and the shot and kill? We have so much about those who are fighting. But when are we going to stop fighting for the innocent people at this city. Mayor Adam says, we need everyone to help us in this sense lens violence. New Jersey Governor Phil Murphy has tested positive for COVID nineteen

and will isolate for five days. A spokesperson says Murphy is asymptomatic and feeling well, but will cancel all events. Most New Yorkers who worked from home during the pandemic planned to cut their time in the office by nearly half and spend less money in the city annually. According to Stanford economics professor Nicholas bloom the average New York City office worker would slash annuals spending in the city by more than sixty seven hundred dollars. That's down from

an estimated twelve thousand, five hundred before the pandemic. At a news conference at the Federal Reserve Bank of New York, Blooms said the remote work push could cost New York between five and ten percent of its city center population. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts. More than a hundred twenty countries. Michael bar this is Bloomberg. Nathan. Okay, Michael, thank you. Almost

six ten on Wall Street. Time for the Bloomberg Sports Update with John eight And Originally the plan was for Jacob the Grounder spend the last day of March on the Mountain City Field pitched opening day for the Mets. Courts. Opening day pushed back a week after the lockout, so de Grohm instead was doing some long tossing in Port St. Lucy and he felt some tightness in his shoulder, and every Mets fan had the same thought, here we go again. When de Grom pitches, he's the best there is, but

so often he doesn't pitch. Missed the second half of last season with an elbow injury, is likely headed now for an m r I over time in Brooklyn Milwaukee. Top that that's once one nineteen the honest of the couple. I scored forty four, Keevin Duran had twenty six points, Kyrie Evering twenty five. Islanders beet Columbus five. Two Devils lost in Boston eight to one, the last n I T game at the Garden, at least for a while.

They are now going to move the tournament around to other cities Xavier, Top Texas, A and M in the Game of seventeen lead changes seventy three seventy two Women's Final four starts tonight in Minneapolis and then the ends or tomorrow in New Orleans. Four days after coaching St. Peter's in the n C Double A E lead A shade, and Holloway introduced as a new coach at Seton Hall. No shortcuts, no knuckle. I hope you guys right to work. No, I'll watch his team so while I don't know what

you think to do. Oh after his meeting, after his brust covers first day, will you meeting to Boston? He staid, where's gonna take it? To play? For me? Understand the traditions of Seton Hall University. He's a Seton Hall along his salary and seeing all me about two and a half million, about ten times when he was making at St. Peter's. All of Holloway. St. Peter's players attended the pressider in

South Orange gave their former coach a standing ovation. John Stash were Bloomberg Sports Maybe John thanks SMP future is now up twenty three point, staff futures up a hundred seventy eight, Nastack futures up eight seven tenure treasury yield two point four zero percent yield on the two year close to two point three nine. That's a spread of one basis point and nim X screwed is now up three tenths percent at a hundred dollars fifty six cents

of barrel. You're listening to bloom Burg Daybreak. Bloomberg Daybreak brought to you by the Jewish Communal Fund j CFS donor Advice Fund is the smart choice to manage your philanthropy, especially in times of crisis. Make your giving impactful. Visit j c F n y dot org, markets headlines and breaking news twenty four hours a day a Bloomberg dot com, The Bloomberg Business Outland at Bloomberg quick Tape is a

Bloomberg Business clash and I'm Karen Moscow. Stocks and futures are rising as investors evaluate the economic outlook amid tightening monetary policy and Russia's war in Ukraine. We checked the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, S and P futures are up twenty three points. DAL futures up a hundred seventy three and NASTAG futures up eighty four. The decks in Germany's up half percent ten. Your treasury down seventy in thirty seconds yield two point

four percent. They yield them at two year two point three eight percent. Nimex for oil is up to tens per cent or eighteen cents, and a hundred dollars forty six cents of barrel comex skull down nine tenths percent or seventeen dollars ten cents at nineteen thirty six eighty announce the euro one point one zero five three against the dollar, British found one point three one three six, the UN at one two point three nine and checking bitcoin it's down one and a half percent at forty

five thousand is seventy five dollars. That's a Bloomberg business flash. Now here's Michael Barrow with more on what's going on around the world. Michael Darren, thank you very much. Russia claims Ukrainian forces have attacked a fuel depot across the border inside of Russia. If it's confirmed, it would be the first Ukrainian air strike on the Russian soil since the War started. Meanwhile, Ukrainian authorities say Russian troops have left the heavily contaminated to a Nobyl nuclear site. It

comes as Russian in firms. Talks will resume today with Ukraine via video link. The European Union will seek China's reassuring. This is that it will not assist Russia in circumventing economic sensions leveled over the invasion of Ukraine at an

annual summit. Today. In the NBA, the Nets lost in the NHL, the Bruins put a pitchfork in the Devil's eight on the Islanders won Global News twenty four hours a day on air and on Bloomberg Quick Takes, powered by more than the seven hundred journalists analysts more than twenty countries. Michael Barr, This is Bloomberg. Nathan Okay, Michael, Thanks at six nineteen on Wall Street Live from the

Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak, and we're joined once again this morning by Mark Champion, Senior reporter for International Affairs for Bloomberg News. As we monitor developments in the war in Ukraine, and it does seem as though Mark, we are seeing some pretty significant developments. If this report pans out from Russia that Ukraine actually crossed its border and went on the offensive against an oil tank facility in the Russian territory, is this a sign

that tables are turning well. Not necess necessarily that, but it is a sign that the Ukrainians are doubling down really on a tactic that's been very successful for them so far, which is to attack Russian logistics behind the lines.

This time it's it's different. Instead of going for fuel tankers along the roads, which they've hit a lot, they've hit a fuel depot in Bilgorod, which is just on the other side of the border, a key supply route into the eastern Don Bass territories, which is where Russia says it's now going to concentrate it's it's offensives, So it's kind of drawing down above Kiev and in the north and and pushing in resources into the east. So it's a very smart and logical move for the Ukrainians

to make. Really. Now we're also hearing reports as well that Russian forces are pulling away near the Chernobyl facility, and Ukraine is saying it's taking more territory and some villages as well. Can you catch us up on that. Yes, we don't, you know, we don't yet have a lot of confirmed data. But it does look like the Russians are pulling back towards the yellous uh, and the Ukrainians are sort of harassing them as they go. Uh. And they say that some forty villages around the country have

been taken, But we don't, you know, we were. That's very difficult to confirm, and as always in the war, each side tends to exaggerate their successes and under under report on their their losses. But nevertheless, it does seem like there's some movement now while we continue to try to confirm these reports from the ground, how does this set us up for the resumption of talks that now

both sides say is going to happen remotely today. Yes, they're gonna have another round according to the Russians of UM remote talks today. Uh. They haven't gone very far so far. UM. They have come to agreement on some of the what are not necessarily agreement, but they've on an agreement in principle on some of the more diplomatic areas.

But territory is the real problem, which remains unaddressed. Uh, and that as we can see, Um, it's still if you know, we're in a phase of facts being made on the ground, as as often in these situations, the things continue simultaneously with the each side trying to make the facts on the ground that they can use as leverage and talks. Are we still facing, or at least as Ukraine still facing that trust yap with Russia needing UH ceasefire to be agreed to before they can get

to some of those more thorny issues. Well, ceasefire is very likely to be the first stage. The difficulty is for Russia to you know, really have a ceasefire and start pulling troops out. Uh. You know that loses them leverage on the ground. They obviously have the dominant force, So you know, it's it's it's a it should be a simple issue, but it's actually extreme difficult to get to get to agreement as you kind of stage it in such a way as neither side thinks they're losing out.

And you mentioned that the biggest issue for both sides is the issue of territory, But what about the neutral status idea that Ukraine is at least sounding open to the idea of some sort of neutral status is that potentially somewhere that both sides can sort of come to the middle on Yes, I know that that should be relatively easy to do us strangely because it was, you know, such a big issue leading into the warm but there was always some room for maneuver there. At various times

Ukraine has had neutrality written into its law. Um, it was always possible, but it's you know, there's a lot of devil in the detail there as to what that means, what kind of you know, Russia also wants to go with that. It wants demilitarization. And the flip side to that is that the Ukraine is there saying, well, if you want us to reduce make commitments about what kind of weaponry will have, then we need security guarantees from other countries. And then immediately you start getting into what

is newtralgy in that case. If you have security guarantees from other countries, all right, well, of course, continue monitoring the talks as they get underway and any readouts that come out from either side. Mark Champion, senior reporter for international affairs for Bloomberg News. As always, thanks for getting us the latest on what's happening in the war in Ukraine. Looking ahead to the market, Open futures are moving higher on this first day of the second quarter and ahead

of the March jobs report. S and P futures up twenty two points. DAL future is up a hundred sixty six. NASTAC futures are higher by eighty four points. Looking at a flattening yield curve, with the ten year treasury down sixteen thirty seconds, the yield of two point three nine percent, the yield on the two year two point three seven Much more to come, including a look ahead to March jobs and Amazon pri ming for a union drive. Five things you need to notice start your day on Bloomberg

day Break. Bloombergday Break brought to you by Ancient Accountants and advisers. Challenging times call for proactive advisors who help minimize taxes, increase cash flow, and create opportunities for the future of your business. Visit Ancient dot Com broadcasting live

from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston, Bloomberg one oh six one to San Francisco, Bloomberg nine sixteen, to the country, Sirius XM Chado one nineteen and around the globe, the Bloomberg Business apt and Bloomberg Radio dot com. This is Bloomberg day Break six thirty on Wall Street.

Good morning, I'm Nathan Hagar and I'm Karen Mostow. Just about three hours away from the open of US trading time for the five things you need to notice start your day. Brought to you by Interactive Brokers. Interactive Brokers charges margin loan rates from zero point eight three percent to one point eight three percent, rates subject to change. Learn more at ibk R dot com. Slash compare. First,

the tables maybe turning in the war in Ukraine. Russia says to Ukrainian helicopters hit a Russian oil tank facility, and Ukraine said it's retaken territory in the Curson and Turnitive regions. President Biden said the war is not going well for Vladimir Putin. I'm not saying this with a certainty. He seems to be self isolated, and there's some indication that he has um fired or put under house arrest some of his advisors. Talks between Ukraine and Rush our

set to resume by video today. Meantime, carring the White House decision to release US strategic oil reserves, has crewed on track for its biggest weekly loss in almost two years. It dropped seven percent yesterday. Right now West Texas Intermediates at a hundred dollars seven cents of barrel. It's the beginning of their second quarter, Nathan. More than three trillion dollars were erased room bond and equity values in the

first quarter. The SNP five hunrey dropped four point nine percent this morning at S and P futures are up twenty two points and for markets today, of course, it's all about March jobs. Economists surveyed by Bloomberg forecasting gain of almost a half million. Bloomberg's Viney del Judas has more.

America's economy is at it about one point two million jobs since the start of the year, job openings toward eleven point three million in February, just shy of a record Bloombreak economics labor market is room to run, with payroll still below February twenties peak just before the pandemic landed in the US. Look at weekly jobless claims, they dropped to a half century low in mid March. They had been running in the millions in the early stages

of the pandemic. Finny del Judais Bloomberg Degree Right, Finny, thank you. Let's turn to corporate news now with a focus on the world's largest retail site. The person to unionize at Amazon is growing. Bloomberg's Raedy Young joins us live with the latest. Good Morning, Ready to have morning, Karen. The upstart Amazon labor union in Staten Island is closer to forming. Workers who want to organize are leading by more than three hundred fifty votes out of about twenty

six hundred talied, and that count will continue today. Meantime, Amazon warehouse workers in Alabama voted to reject a union in a tight race yesterday, but the National Labor Relations Board says about a quarter of the votes are challenged and will need to be reviewed. Those could potentially change the outcome. Live in New York, I'm renaed a Young Bloomberg day break right, re need to thank you. That's the five things you need to notice start your day.

Brought to you by Interactive Brokers and futures are higher this morning. SMP futures up twenty two points and a straight ahead your latest local headlines, plus a check of sports and this is Bloomberg. Thanks Karen sixty three On Wall Street, fifty five degrees in Central Park. We got an accident on the westbound Grand Central Parkway at the b Queie the Tails coming up in traffic first Michael Barr with more on what's going on in New York

and around the world. Once again, Good morning, Michael, Good morning Nathan. A. Judges ordered New York's Democratic control legislature to redraw the state's congressional and legislative districts after finding they were unconstitutional. State Trial Court judge Patrick McAllister said in a ruling that the maps redrawing the state's congressional districts were jerrymander to benefit the Democrats. The judge gave

lawmakers until April eleventh to redo the maps. If their new maps failed to pass muster in the courts again, the judge said he would order the state to pay for a court approved expert to redraw the maps. The federal judges overturned most of a restrictive Florida voting law, calling it discriminatory. The judge has ruled that the sections of the law, including read districting voting by mail and we're restricting voting by mail and the use of drop

boxes were unconstitutional. Florida Governor around the sentence, it's an election integrity law. I wouldn't say it's a restriction at all. To have somebody show identification is not a restriction. It's common sense and some of the other things we did. Governor de Santis says the state will appeal. Police in New York City need your help after his shooting in Brooklyn last night, had left the twelve year old boy dad. He was kild while sitting in a park vehicle with

two relatives. Authorities say a twenty year old woman in the driver's seat was also hit by the gunfire, but is expected to survive. Speaking to reporters from the scene, and YPD Assistant Chief Michael Kemper, no, that's senseless shooting this time the shooting involving the death of a twelve year old child. Assistant Chief Kemper was joined by New York Mayor Eric Addams. We're gonna just this shoot up.

But as long as we have guns and we're going to be evolved into a system, we're going to continue to come to crime scenes like this. It's time point to stop. Mayor Adam said at least eleven rounds were fired at the scene in East Flatbush. New Jersey. Governor Phil Murphy has COVID. The spokesperson for the governor says Murphy has tested positive for COVID nineteen and will isolate

for five days. A panel member says former President Donald Trump's son in law and White House advisor Jared Kushner provided valuable information during private questioning by the House committee investigating the attack on the Capitol, while declining to specify what he provided, Representative Elaine Luria of Virginia said that

Kushnier voluntarily spoke to the committee. Global News twenty four hours a day on it or end on Bloomberg quick Take, powered by more than twenty seven under journalist and analysts more than a hundred twenty countries. Michael barn This is Bloomberg, Nathan, Thank you, Michael, almost six thirty six on Wall Streets and for the Bloomberg Sports update. Here again is John Stash.

Thank Nathan. There was an elbow injury that prevented Jacob the Ground from pitching the second half of last season, but the Metsies has had virtually every injury his neck, his back, lat forearm, now for a second time an issue with his shoulder to ground felt tightness while doing some long tossing, so he won't pitch that schedule today. Instead will have an m R I. The hope still is to have the ground pitch opening day next Thursday

in Washington. Milwaukee. Bucks last spray won a game seven in Brooklyn in overtime, and the Bucks last night one in Brooklyn in overtime. On one nineteen, Joanna Son of the Cup of forty four points. His three point forced the ot. He moved past Karema abdul Jabari became the Bucks all time leading score. The Nets are now in a three way tie for the eighth, ninth, and tent spots in the East. Xavier, who just fired its coach,

hired a new one for next year. Meanwhile, won the n I T at one point, went over Texas, A and m at the Garden. The final four tomorrow in New Orleans starts with Kansas in Villanova, and then it's North Carolina versus arch Tribal Duke. Mike Chosky coaches a young duke squad. They don't feel pressure, and I'm amazed at the try to remember being that age would have felt pressure and nervous and maybe a little bit afraid. They're they're not. Of course, Coach K's career will either

end tomorrow or if not tomorrow, then definitely Monday. Bobby Wagner, the veteran linebacker and released by Seattle, staying in the NFC West, signed with the Super Bowl champion l A Rams five years, fifty million. John stash Award Bloomberg Sports Okay, John, Thanks six thirty seven on Wall Street. Time to take a look at stock some of the names moving in the pre market as we get ready to open up

the second quarter of Bloomberg's Law. Right is with us this morning watching one of those meme stocks moving big time on stock split news, not just any meme stock. Nathan the post to child for meme stock, game Stock rallying in the pre market. They plan to ask their shareholders for a stock split in the form of a dividend, and Gamesop is the latest firm to approve a stock split. We've heard from Tesla, Amazon, Alphabet and this this move

is really in vogue with retail investors. Is typically it reduces the price of a company, and they specifically want to increase the number of class asias to one billion from three million. And we had some pretty interesting news across the Bloomberg terminal this morning that sparked a rally for Chinese list or Chinese companies that are listed on Wall Street. Yes, the Bloomberg scoop that Chinese authorities are apparently willing to give US regulators access to auditing report.

As a result, was seeing Al Barber rallying seven percent before the bell and buy do you up eight percent? Those Chinese listed a d r S And there's been a broader nervousness in the market that Chinese tech names would be removed from US exchanges. Last night, the Nasdak Golden Dragon China index closed down almost five and a half percent overnight my time, i should say, And in fact, that index posted its worst quarter since two thousand and eight.

So those Chinese tech name has been really under pressure. But this headline should provide some upside. Let's go back to Tesla. You mentioned them in terms of the stack split news, but there's been some struggle for Tesla, particularly with the lockdown happening in Shanghai. Yeah, Router's reporting that Tessla they will close their Shanghai Gigga factory for another day.

That factory caught up in rolling lockdowns in China as Beijing sticks to its zero COVID policy, and that really underscores we're starting to see an economic contraction in China as a result. Just this morning, the China Kaijing manufacturing pm I slipping into contraction. So that's a worry for international firms based there. And finally, Laura, we have an analyst downgrade for a major PC maker in this country, Yes, Del selling off eight tenths per percent in the pre market,

a downgrade from Goldman and Morgan Stanley. Really, this raises the question is the market for personal computer devices saturated? Many consumers upgraded their technological devices over the pandemic, were starting to see demand normalize at a time when supply chain congestion is tightening because of things like the war in Ukraine inflation. Yeah, so Dell falling in the pre market after a seven and a half percent drop yesterday for the PC maker, Bloomberg's Laura, right, thanks for keeping

us up to speed on the pre market all week long. Really, appreciate it as you take a look at stocks as a whole. Ahead of this Friday morning open, futures are higher, SMP futures up twenty one point, that futures up a hundred fifty nine, and NASTAC futures on the rise by

seventy nine points. And tell your treasure right now down fifteen thirty seconds with the yield two point three nine yield on the two year two point three seven percent, a spread of one and a half basis points, and I'm x screwed is down two tenths percent now at

a hundred dollars seven cents of barrel. You're listening to Bloomberg Daybreak Blomber eleven, three oh weather showers giving way to partial sunshine today with a high near sixty degrees, mid fifties, probably the mostly sunny tomorrow, more clouds than sun's Sunday chance for a few showers, with higes in the low fifties currently fifty four degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com,

Blo Bloomberg Business Out and at Bloomberg Quick Tape. He's a Bloomberg Business lash, and I'm Karen, Moscow and futures rising this morning. Let's go to the first word breaking news dash for today's morning call. Here's Bill Maloney, Bill, good morning, and good morning, Karen. That's right. US features are in the green after yesterday's sell off without futures, currently up a hundred and fifty six points. SUPs game twenty one, Nasdick features rise by seventies seven he was

ten year old at two point four percent. Gold is down five, Oil is little changed, but Bitcoin is down by two and by four and a half percent. European markets are also in the green, lived by games in Italy and Spain and back in the US. On the economic Frinday thirty of the March jobs reports at five manufacturing p M I and at ten o'clock construction spending and I s M manufacturing not to developers to night game Stamp, Games Stop planned to split its stock, shows

her up fifteen percent pre market and other news. Black Rocket is cutting fees on et F s and a deal news. Toshiba climbed after its largest shareholders spurred speculation of a takeover bid by Bain Capital. Rapid Things Up. Del was cut to neutral at Goldman SAX Co America raised overweight over at JP Morgan live from the First Record News desk, gone, Bill Maloney, care Parry, Bill, thank you and to hear live breaking news O Her Bloomberg type squawk on your terminal. Ascue you a w K

and that's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much. Talks between Ukraine and Russia will resume today via video link, following meetings earlier this week in Turkey. Well. Russia also said that to Ukrainian military helicopters made a rare strike across the border, hitting an oil tank facility in the city of Belgarade. There was

no immediate confirmation from Kiev. President Joe Biden said Russian leader of Vladimir Putin may have fired some of his advisers or put them under house arrest. Biden says it's an open question as to whether Putin is fully informed on his military's performance in Ukraine, in the NBA, the Nets lost in the NHL, the Bruins down, the Devil's

Eight one, the Islanders one. Global News twenty four hours a day on air and on Bloomberg quicktake powered by more than twenty seven hundred generalis f analyists more than twenty countries. Michael Barr and this is Bloomberg. Karen, right, Michael, thank you. Sixty nine on Wall Street, we turned to news now in science and technology with a Bloomberg n j i T STEM Report. It is brought to you by New Jersey Institute of Technology. N j I T

makes industry ready engineers and more than twenty fields. If it's engineering, it's at n j I T. Learn more at n j I T DOT E d U. And now here's this making news and science, technology, engineering, and math. The houses move forward. A key piece of President Biden's drug pricing agenda, lawmakers voted to limit what, in short, Americans pay for insulent thirty five dollars a month. Now it's up to the Senate, where by partisan group is

coming up with its own insulin proposal. Shanghai has started part two of its phase lockdown, confining some sixteen million people living in the western half of the city to their homes after ending a four day lockdown to the east.

Residents in the western part of the Chinese financial hub, where about two thirds of Shanghai's population lives where confined to their homes this morning, and scientists say they have finally assembled the full genetic blueprint for your human life, adding the missing pieces to a puzzle nearly completed two decades ago. In research published in the journal Science, and international team describe the first ever sequencing of a complete

human genome. This set of instructions do build and sustain a human being. Scientists say this full picture of the genome will give humanity a greater understanding of our evolution and biology, while also opening the door to medical discoveries and areas like aging, neurodegenerative conditions, cancer and heart disease, and as a Bloomberg and J. A. T. Stem report, Nathan,

groundbreaking stuff. All right, Karen, thank you for that. We are live from the Bloomberg Interactive Broker Studios where we're coming up to six fifty one on Wall Street time not to check what's going on in BC. Some of the top stories in our nation's capital include President Biden embracing oil as war crowds out his climate agenda, presidents saying Vladimir Putin may have some advisors under house arrest, and the January six Committee reporting valuable information obtained from

testimony behind closed doors by Jared Kushner. Let's get more on all these stories now. Bloomberg Government reporter Emily Wilkins is back with us from our studios in Washington. So we got the announcement Emily yesterday that the president is doing this long, slow dip into the strategic reserve and now calling for even more drilling to deal with rising gas prices and supply shortages. I guess what a difference

of war makes. I know, I mean, it's a war, and it's also the fact that we're Americans are experiencing these very high gas prices. And even though you know, it's not like Biden has complete control over gas prices, but it is something that he is going to be judged on, and it's something his party is going to be judged on this November. And so this h you heard experts really call this release. UM. Let's say that, you know, it's it's unprecedented that it's a huge amount.

I mean compared to what was released last year. This is this is way beyond that, UM. And the hope is that this does something to bring gas prices down or at least shows the American people that Biden is trying to address gas prices right now, you know, Americans really do blame Biden. He's tried to peg this on Putin. He's called it the Putin price hike. They've tried to blame big oil. We're going to see a number of

oil companies in front of Congress next week. At the end of the day, A majority of Americans have blamed Biden for higher gas prices, according to a recent Quintipiac poll. And those uh, those that blame is like very likely to come out this November unless Biden is able to shift course. Now, so obviously there are these short to even medium term political and economic considerations for the president. But what does this mean for his overall climate agenda.

I mean, this is something that he had campaigned on to do a you know, major shift from fossil fuels to more renewable energy. Absolutely, and and this does go sort of back against what Biden initially said. And he has anchored some in the climate world who said that Biden should really be using this opportunity not to pivot back to gas and oil, but to really pivot to some of these newer technologies more renewable energy and use

that to get Americans energy independence. I mean, look, Nathan, when you're on the campaign trail, it's hard to predict what's going to happen when you're actually in office, and this is something that certainly forced Biden's hand into changing course.

I think something was something initially that the administration was resisting, but gas prices have been so high for so long, and I think the pressure was so great that we are finally seeing the administration shift towards really encouraging this more drilling, releasing more oil, and really just trying to get the price at the gas station to come down. And in the meantime, Emily, we're hearing even more candor from President Biden on just how much pressure he sees

on Russian President Vladimir Putin as this war goes on. Yes, Biden said yesterday that they that there's some intelligence, and he kind of hedged it saying that, you know, they didn't have a ton of evidence yet, but that he could be isolating himself from his top advisors and that might have prevented Putin from really realizing how poorly this

war is going for him. I mean, we've heard a lot of different things as far as what's happening with Russian morail, where the Russian people are at, where Russian soldiers are at. I think it's kind of you know, good to you know, make sure that you're verifying this information that we are getting the backup and the evidence that we need here. But certainly at this point it

doesn't seem like there's any let up. We you know, initially heard earlier this week that there was the talks between Ukraine and Russia and that Russia was going to sort of ease up a bit off the Capitol. We have seen them ease back off Keith, but we've also seen them retarget their forces in the eastern region of dun Boss. So it seems like this attack is very much continuing to happen. Uh, And it's simply that Russia has changed tactics about where their troops are not necessarily

backed off overall in any meaningful way. Yeah, So it is going to be interesting to see whether Russia really is on the back foot here or whether we are seeing sort of this regrouping on the Russian side. If it does turn out that Ukraine is getting an upper hand here, what does that mean for the push for

even more aid coming from the US to Ukraine. I think we also have to consider that as far as aid goes to to Ukraine, even if the need for military aid is diminished, which I certainly don't think anyone's saying that at this point, there's a huge need for humanitarian aid for refugees, for these cities that have been

absolutely destroyed. There's still a big sense that Ukraine is going to need assistant and we're keeping an eye on President Biden's UH discussion about potentially needing a half a half billion and more aid for their We haven't seen that request to come to Congress yet for additional funding, but Congress is certainly working on other pieces of legislation to further sanction Russia and to assist to Crane in our last minute here, Emily, the January six Committee got

to talk to Jared Kushner behind closed stores yesterday. We've gotten any idea of what Kushner had to say. Well, the Committee doesn't like to, you know, go open into the public and detail of all these things. There's a reason that, uh, when they do these these discussions with with witnesses, that they are off the record and not open to press, but it sounds like he was helpful, that he was helpful in terms of verifying things that they've been told from others, of kind of making sense

of some of the reporting involved around this. And he's also helpful simply because he's one of the highest ranking members in the Trump White House to have gone and spoken with the committee. The Committee's tried to speak to other individuals, Steve Bannon, Mark Meadows, but a lot of them have have resisted, gone to court, claimed executive privilege.

So for them to actually be able to talk to someone like Jared Kushner who was at that very high level and the president's inner circle, Um, it's certainly something I think that's that's going to make a difference for this committee's investigation. Yeah, member of the family doesn't get much higher than that. Emily Wilkins of Bloomberg Government. As always, thanks for keeping us on top of what's happening in Washington. Read more about all these stories on Bloomberg dot com

or on the Bloomberg terminal. Listen to Bloomberg Radio in the nation's capital Bloomberg and one oh five point seven fm h D two SFP futures up twenty points now down, futures up a hundred fifty eight. NAZDAC futures are higher by seventy two points, the tenure treasury down seventeen thirty seconds with a yield two point four zero percent yield

on the two year two point three seven. And taking a look at oil, little change that's been fluctuating between gains and losses in the session, with nime X crude right now now down two tenths percent at a hundred dollars fifteen cents a barrel for Karen Moscow. I'm Nathan Hagar. This is Bloomberg