Bloomberg Daybreak: April 12, 2022 - Hour 2 (Radio)

I am Michael Lauren. More ahead, I'm John stash Our. Sports. The Phillies rallied past the mess The Blue Jay shut out the Yankees. The Nets host Cleveland in a play in game tonight. That's all straded ahead on Bloomberg Daybreak on Bloomberg eleven, Free on New York, Bloomberg Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nine Team, and around the world on Bloomberg Radio dot Com. I'm and via the Bloomberg

Business App. Good morning, I'm Nathan Hagar, and I'm Karen Moscow, US dock in knecks. Future is a little change this morning, coming up to six o one on Wall Street. We checked the markets every fifteen minutes throughout the trading day on Bloomberg SMP futures that will change this morning, So we're down futures, nowsdack futures higher up about thirty four. Ten year Treasury down to thirty seconds two points seven eight percent, yield on the two year two point five

two percent, and now I'm ex screwed. Oil is up three point one percent. Nathan Karen. We begin with breaking news this morning. A new initiative by the Biden administration aims to give a boost to ethanol while lowering prices at the pump. Amy Morris reports from our Bloomberg ninety one newsroom in Washington. The plan to expand sales of higher ethanol gasoline would be a temporary change during the

summer months. It would also waigh anti pollution restrictions, which would otherwise block warm weather sales of fifteen in areas where smog is a problem. Fifteen cells about five to ten cents per gallon less than regular gasoline. And while the move might replace oil consumption with corn consumption, the war on Ukraine could also boost corn prices in coming months,

so administration officials say the calculus could change. In Washington, I'm Amy Morris Bloomberg, daybreak, right, Amy, thank you all, turning to the war in Ukraine. Now, India and the United States are trying to smooth some rough waters created by Russia's invasion, and Bloomberg said, Bachelor has the story. The virtual meeting between Prime Minister and Derrendro Moody and President Joe Biden focused in large part on India's purchases of Russian oil, and White House spokes of A Jem

Saki says a message was forceful. The imports from the United States are already significant, for much bigger than the imports that they get from Russia. Uh and we, of course the President conveyed very clearly that it is not

in their interest to increase that. Now. Having said that, both sides characterize of toxes friendly in San Francisco, I'm at Baxter Bloomberg, Daybreak, all right, and thank you, anything but friendly in Ukrain, and the Merrier of Mary Paul says Russian troops killed more than ten thousand civilians in their attempt to capture the ports city. Russia categorically denies purposely killing civilians. The US is warning the invasion is set to enter a very bloody phase, but retired Lieutenant

General David Deptula tells US Ukraine could still win. Don't stand a better chance if the United States and NATO supply them with the kind of weapons that will give you krant an advantage. And that means more advanced air defenses like spider aircraft, surface to air missiles as well as service to surface missiles. Because the best way to stop the Russian air forces to kill it on the ground.

David Deptula spoke with our Washington correspondent Joe Matthew on Bloomberg Sound on Catch the program weekdays at five pm Eastern on Bloomberg Radio, and we turned to the markets. Now, Nathan, the sell off and bonds continues this morning. In fact, the ten year treasury yield is trading at its highest level since eighteen right now is a two point seven eight percent and Bloomberg cross As editor Joanna Austen Jerry says analysts expect yields to keep rising two point eight

three percent on the tenuere treasury. That's about where it peaks out today. That's where the yield would breach a long term trend line that started in the early nineteen eighties. Um, but a lot of people do expect it to happen, right. You have JP Morgan Asset Management, MUFG Security seeing a move past three and g s FM expects it to test three point five percent, So we are seeing most

people kind of expecting it to continue. Bloomberg Show and Allison jur reports of Bloomberg Gage measuring total returns in treasuries I slumped almost eight percent this year, and that's on track for its worst annual decline since at least nineteen seventy three. Consumer price data do later this morning, Karen May push yields up further. Economists forecast and eight point four percent annual gain in Marches index. We get a preview from Bloomberg's Michael McKee. It's a week of

economic data focused on inflation. With today's Consumer Price Index report, well, it's hard to call it a highlight. The forecast headline would be a scary one. Indeed, the highest inflation since nineteen two, when the nation's benchmark interest rate was fifteen percent, Energy, food, and housing costs are putting continued pressure on prices, while oil prices have fallen a bit in recent days. That

won't show up in the March CPI. What higher prices may mean is lower consumer spending on things outside of those three categories. Will get retail sales figures for March. On Thursday, Michael McKee Bloomberg Debris Mike, thank you as investors brace for the CPI report, more predictions have a recession.

This morning that Peterson Institute for International Economics says the global economy is set for a setback by the end of the year, and recession risks are elevated against the backdrop of Russia's invasion of Ukraine and COVID shutdowns in China. The recent surgeon treasury yields has taken its hole on tech stocks. We get that story from Bloomberg's Charlie Hellett.

The No Stack one stock index dropped two point four percent, adding colosses sustained last week that have erased over one trillion dollars in market value from the tech heavy benchmark in the past five sessions. Microsoft was down three point nine percent, it's worse decline in more than a month. Chip maker in videos, saying five point two percent, extending losses sustained over the past five sessions to twenty percent.

The stock has not had a five day run this bad since March of In New York, Charlie pellets Bloomberg Daybreak, Right, Charlie, thank you. One of the chech stocks not involved in the sell office. Twitter speculations still swirling on the impact Elon Musk may have at the social media company, and we get the latest line from Bloomberg's Ranita Young, Good morning, Radida, Good morning Karen. Now that Elon Musk is no longer accepting a position on Twitter's board, he may acquire additional

shares of the company. Web Bush Securities analyst Dan I've says it's highly likely that Musk takes a more hostile stance toward Twitter and further built his active steak in the company. Musk currently owns nine point two percent of Twitter and is its largest individual shareholder, and since he's not on the board, he's not required to keep his stake below fifteen percent. Live in New York, I'm Nita Young, Bloomberg Daybreak. Okay, Nita, thank you. Bloomberg Daybreak is brought

to you by b and Y Melons. Pershing learned why the world's most sophisticated wealth management and institutional firms rely on Pershing to help them improve profitability, create efficiency, attract talent, and mantage risk at pershing dot com. Straight ahead, your latest local headlines and a check of sports. This is Bloomberg Sound six o seven on Wall Street, Cloudy now forty nine degrees in Central Park. Still dealing with that accident.

The southbound Degan at Yankees Stadium will get the update in traffic shortly. First Michael bar with what else is going on in New York end around the world. Good morning, Michael, Good morning Nathan. New Jersey regulators approved seven facilities that already sell medical marijuana to also sell recreational pot. The specific date wasn't set at the New Jersey Cannabis Regulatory

Commission's vote during a remotely held meeting. The facilities must still pass a regulatory inspection of their operations and be issued new licenses. Retail sales for the general public would start in thirteen dispensaries operated by the seven treatment centers across the state. Officials in Philadelphia reinstated the city's indoor

mask mandate. It takes effect next Monday. Amid arising COVID infections, Philadelphia's Health Commissioner Cheryl Betegal, I'm announcing that we have reached the threshold from moving out of the all clear COVID response level and into the mass precautions level. Simply put, that means that we're reintroducing the mask mandate in Philadelphia. Commissioner better Goal says the city is averaging a hundred

forty two new COVID nineteen infections a day. The US government ordered all non emergency staff at its Shanghai Council and their families to leave the Chinese city due to a surge in COVID cases. Most of Shanghai's twenty five million residents are subject to tight movement restrictions that keep them in their homes, making it unable to obtain food

or necessities. A twenty three year old woman who falsely accused a black team of stealing her cell phone at a New York City hotel avoids jail time after pleading guilty to a hate crime. Maya Ponsetto attacked the team at the Arlow Hotel in December after the hearing, defense attorney pulled. Emilia spoke for his client. This Poncetto is thankful for the thoughtfulness and the empathy that the d a's office showed. Defense Attorney the Ammia says that they're

happy and relieved that this ordeal is over. President Joe Biden announced the finalization of new federal rules restricting so called ghost guns, which allowed purchasers to assemble potentially untraceable weapons from kits. Law enforcement is sounding the alarm our. Communities are paying the price. I'm were acting today. The United States Department of Justice is making it illegal for a business to manufacture one of these kids without a

serial number. Illegal. President by Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven undred journalists analysts more than hundred twenty countries. Michael Barr, this is Bloomberg NA all right, Michael. Thanks almost six ten on Wall Street time for the Bloomberg Sports Update with John Stenshower. Nathan and Mets began the season with three wins in Washington. Their first lost Sunday was a blown lead in the eighth inning in Philadelphia.

That happened again. Want to pitch all the way swung on the field. It's gonna get down for a face hit in the gap and it's gonna give the Phillies the lead. Gregorius drive for second. He's in there with the slide and the Phillies lead at five to four. Here on the bottom of the end. It was radio. So they wiped out a four nothing deficit, won five four, scoring all five in the e J. T. Rail Mudo with a two on Homer. He's Hopkins a hit to tie the game, and then TV Gregory has put him

the head. Yankee bats were quired at the stadium only four singles off Toronto's Alec minoah and three Blue Jay bel Leavers. Toronto won three nothing, with George Springer driving in all three, two on Homer, third inning off Jamison till You on later in RBI double and San Diego's winning San Francisco Taylor Rogers got the save for the Padres. His twin brother, Tyler Rodgers, took the loss for the Giants.

The Learner family purchased the Washington Nationals in two thousand six for four hundred and fifty million dollars, now said to be looking to sell seeking around two billion. Big game of the Rangers. Tonight they host Carolina, who's in first place but just two points ahead of the Blue stre It's an even bigger game. So then at zat Barkley is against Cleveland. The play in games decide who will be the seventh seed in the East faced Boston

in the first round of the playoffs. The loser will host a game Friday against Atlanta or Charlotte, and that winner will be the eighth scene take on Miami. Frank Bogo out as coach of the Lakers two years after winning the NBA NA. Reportedly, the Lakers will try to hire Nick Nurse away from Toronto. John Dashot work with Bloomberg Sports NA Thanks John SMP futures now little change down,

futures down twenty points, NaNs deck futures up ten. Your treasuries down to thirty seconds with the yield right at two point seven nine percent and the yield on the two year right now two point five one. This is Bloomberg. Bloomberg Day Break, brought to you by ancient accountants and advisor's. Challenging times called for proactive advisors who helped minimize taxes, increase cash flow, and create opportunities for the future of

your business. Visit ancient dot com markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. This is a Bloomberg Business lash and I'm Cameron Moscow. US dot Index futures and treasuries are stabilizing after the tenure yield jumped to the highest and twenty eighteen ahead of an inflation print that's set to bolster the case for aggressive federal reserve policy tightening. Check the markets every fifteen

minutes throughout the trading day on Bloomberg. Right now, S and P futures are little changed. DAL futures are little changed as well, and now as Deck futures are higher up nineteen points and decks in Germany's down about one percent ten Your treasury down one thirty second yield two point seven eight percent. The yield on a two year two point five one percent NIMEX Scrude oil is up three and a quarter percent of three dollar seven cents

at ninety seven dollar thirty six cents a barrel. Comic schoold is up half percent or ten dollars fifty cents at nineteen fifty eight seventy an ounce, the euro one point eight seven zero against the dollar British found one point three zero zero seven and then is at one twenty five point five nine bitcoin this morning higher up seven tenths percent at forty thousand, one hundred twenty dollars. 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. A spokesman from Moscow back separatists in eastern Ukraine has denied using chemical weapons to uproot Ukrainian troops in the port city of Mariouple. Meanwhile, the mayor of Maryupol says Russian troops have killed more than ten thousands billions over the past six weeks. A federal jury in Washington, d C. Convicted a former Virginia police off there on all charges stemming from the January six

riot at the US Capitol. The defendant, Thomas Robertson, was accused of wielding a stick and interfering with police. In Major League Baseball, the met Yankees, Red Sox and Giants lost the Nationals, Orioles and A's one Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analyst are more than a d twenty countries. Michael Barr and

this is Bloomberg. Nathan Okay, Michael. Thanks at six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak and Roslyn Mathieson is back with us this morning, Executive editor for International Government for Bloomberg News.

As we continue hearing these growing calls for a more protracted, more bloody phase for the war in Ukraine, particularly to the east, but given some of the reports and images we've seen Roz, it's difficult to imagine the war getting

even more intense than it already had hours. That's right, but if anything, it seems like it may because it looks like Russia, which has already been fighting heavily in the eastern part of the country and laying siege to towns like Mariopol for weeks now, is girding itself for a fresh, big assault and that's all to deliver the Russian president some sort of victory to claim by May nine, which is the of course, their day, they mark their victory day in World War Two, So it seems like

they're really girding their forces there for some kind of full assault, and that would be to either expand the territory that they currently have or to to really entrench themselves there and make themselves impossible to be booted out again.

And that's the warning that we're seeing, not just from Ukraine, but also from countries like the US and others that all signs are that the level of Russian troops and equipment that's piling in to the east now suggests that they're really pushing ahead for a major assault in the coming days. What is NATO and what are the US pushing for as well? We've heard recent comments just moments

ago really from Russian President Vladimir Putin. Some of his latest rhetoric is that conflict with the West is inevitable. What does that imply well, his suggestion all of that is what he has been saying for sometime, which is his view that Russia is the one that's being laid siege to, It's the one that's being encroached upon by

countries in NATO and elsewhere. It's NATO pushing out towards Russia's periphery that has forced this action, rather than NATO responding to what was Russia's actions inside Ukraine and suggestion from him that he sees his mission as continuing, especially in the don Bass area, that he sees the military operations he calls it in Ukraine so far as successful and set to continue. And what are we hearing further rise about the idea of further evidence of war crimes?

You heard the report from Michael Barr about the possibility of chemical weapons use in Ukraine. Are we seeing any real hard evidence that not at this stage? And of course there was one small unverified report last night from a civilian battalion located in Mariopol, but that seems to not have been chemical weapons or even potentially the use of chemicals, So everyone's been very cautious about that report. There's been nothing verified from the Ukrainian officials themselves, either

the military or the government. But certainly the concern remains that as this war goes on, and particularly if Russia fails to execute what it sees as its military goals on the ground, does that lead the Russian president towards more extreme action? Does that mean potentially the deployment of chemicals or chemical weapons to some use inside Ukraine. Of course, there's been accusations across history of Russia doing that elsewhere.

Russia says it destroyed its stocks of chemical weapons in two thousand and seventeen, other countries accused it of still maintaining at least small stock piles for potential use, and as that concern continues to build rise, it really has been stray king to see this shift coming from European allies, from diplomacy and sanctions being the focus against Russia to now even more talk of providing more heavy weapons to Ukraine. What kind of equipment, what kind of further support could

Ukraine be looking for from Europe? Well, what they're really looking for as an escalation of those heavy weapons, more offensive weapons, because so far what countries have sent have largely been classed as defensive weapons. But the reality is that if Ukraine's are only going to defend territory, but take territory back from Russia, it will need different kinds of weapons, and that's more of armored vehicles and tanks.

And so you're seeing an understanding amongst EU members and the US that that kind of stuff really needs to go into Ukraine and quickly. Of course, it doesn't appear magically in a day if you decide to send a tank to Ukraine. Even if those decisions are taken now, it could be um some weeks even before it actually arrives in The question is whether that's already too late.

But certainly at least you're seeing and understanding that, despite the risk that it draws the eye of the Russian President, that a few crane is really going to withstand the attacks on the ground. It needs you with different kinds of equipment. All right, Thanks as always, ros good having you on for the latest. Rosalind mathieson Bloomberg News, Executive editor for International Government. Right now, SMP futures are down two points, STOW futures down thirty six, NASTACK futures are higher,

but by just about eight and a half points. The tenure treasury right now is down to thirty seconds, with the yield very close to two point seven nine percent, the yield on the two year two point five one percent as we await the release of the March Consumer Price Index. In the US, NIMEX crude surging in the session, up three and a half percent or three dollars thirty three cents ninety seven dollars sixty two cents a barrel. Just ahead, we are bracing for another potentially historically high

inflation print. And what are Elon Musk's plans with Twitter? The five things you need to know to start your day? Just the head on Bloomberg Daybreak. Bloomberg Daybreak is brought to you by the Jewish Communal Fund j c F. Stoner 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. Broadcasting live from

the Bloomberg Interacted Broker's studio in New York. Bloomberg E Living Freedom to Washington, d C, Bloomberg On to Boston, Bloomberg one oh six one, to San Francisco, Bloomberg N sixty to the Country Sirius XM Chado one nineteen and around the globe, the Bloomberg Business apt and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning. I'm Nathan Hager and I'm kerin Moscow, and we're 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 a three percent rate, subject to change. Learn more at ibk R dot com. Slash compare a first. Fighting continues in Ukraine as the US warrants the Russian invasion is set to enter a very bloody phase. Retired Lieutenant General and David Deptula tells Bloomberg's

Joe Matthew support for Ukraine must continue. They're fighting on behalf of the complete free world, and so we need to support him to the greatest degree possible, not the least that we can get by with, According to White House and Pentagon lawyer David Deptula's book Without Washington. Correspondent Joe Matthew on Bloomberg Sound on Catch the program weekdays at five pm Eastern on Bloomberg Radio. Back here in the U, S, care and economists say inflation will probably

set a fresh four decade high for March. They project the US consumer price index rising eight point four percent year over year. Bloomberg's Vine Tell Judas reports March. Maybe the peak, Bloomberg Economics is commodity prices effect on the highs, but the climb down will be stubborn lee slow. With the US inflation rate running above seven percent much of

this year. In February, the CPI row seven point nine percent year of the year, the Fed, meantime, will keep tightening higher interest rates that contain runaway prices be jude I s bloom birgday break right, Fanny, thank you? Ten year treasuries arose about two point eight percent to the highest level since December of twenty eight. Team. That would be the treasury yield to sell off threatens to end a four decade bull run in bonds. Right now ten

year yields or at two point seven eight percent. Risks for global recession arising two Karen. That's thanks to high inflation as well as the Russian invasion and China's COVID shutdowns, according to a report from the Peterson Institute for International Economics.

Economists surveyed by Bloomberg also warn of rising recession risks and Nathan speculations thirling about how Elon Musk will impact Twitter or let's get the latest Live with Bloomberg's right need a young good morning Rady to Good morning Karen. Now that Elon Musk is no longer accepting a position on Twitter's board, he may acquire additional shares of the company. Web Bush Securities analyst Dan I've says it's highly likely that Musk takes a more hostile stance toward Twitter and

further built his active steak in the company. Musk currently owns nine point of Twitter and is its largest individual shareholder, and since he's not on the board, he's not required to keep his steak. Below Live in New York, I'm rened a young Bloomberg day break. All right, rened to thank you. That's the five things you need to notice start your day. Brought to you by Interactive Brokers and straight Ahead your latest local headlines, plus a check of sports,

and this is Bloomberg. Thank you, Karen, sixty three on Wall Street, forty nine degrees in Central Park. We got two accidents on the Garden State Parkway. Will tell you more in traffic and just a few minutes. First, Michael Barr with what else is going on in New York and around the world. Good morning, Michael, Good morning, Nathan, New Jersey regulators have ever approved seven facilities that already sell medical marijuana to also sell recreational pot. However, it's

not clear exactly when sales would begin. The Jersey Cannabis Regulatory Commission voted during a remotely held meeting that sales could start in a matter of weeks or longer. The approval vote comes a year and a half after voters overwhelmingly approved recreational marijuana for people twenty one and older. Masks are making a return to Philadelphia. Officials have decided with an increase in COVID nineteen infections, it's time for

the indoor mask mandate to come back. Philadelphia's Health commissioners Cheryl bettegal, today's case count is more than higher than what we saw ten days ago, so we know that cases are rising fairly quickly. The number of people hospitalized in Philly with COVID is still low, only forty. Commissioner Benegal says beginning next Monday, people in indoor public spaces, including schools, child care settings, businesses, restaurants, and government buildings

will be told to mask up. The US has ordered all non emergency government staff to leave Shanghai, which is under a tight lockdown to contain at COVID nineteen search. People living under the restrictions have described an increasingly desperate situation, with families unable to obtain food and daily necessities. Shanghai

reported another twenty three thousand cases. Today, President Joe Biden announced the finalization of new federal rules restricting so called ghost guns, which allow purchasers to assemble potentially untraceable weapons from kits Georgia packs like this one over here includes the parts youre need, the direction of assembly, a functioning fire you bought a gun. The President called the new

policy just basic common sense. A woman who falsely accused a black team of stealing her cell phone and a New York City hotel avoids jail time after pleading guilty and a hearing to a hate crime. Twenty three year old Maya Poncetto pleaded guilty to unlawful imprisonment in the second degree as a hate crime after she accused then fourteen year old Ken Harold of stealing her cell phone and then attack fourteen year old at the Arlo Soho

hotel in December. Said those defense attorney Paul Emelia, we obviously are happy and relieved that this story deal is over. Defense attorney Amelia said his client is grateful for the BEA's empathy. Global News twenty four hours a day on airand on Bloomberg Quick Take Power, more than twenty seven hundred journalist analysts, more than a D twenty countries. Michael Barb this is Bloomberg Naked. Thanks Michael. Just about six thirty six on Wall Street, John stash Our has the

Bloomberg Sports Update. All right, Nathan. Life in the a L E's Tampa Bay has been better than the Yankees each of the last two seasons. Red Sox beat the Yanks of the playoffs. Last year in Toronto, much improved Blue Jays at the stadium. First of four, Jay's won three opts, Alec Moneo and three relievers. Teams been a four hit shutout. George Springer provided the all on the

offensive two run homer, then an rb I double. Jay's pitchers did issue nine walks and the Yanks sets of chances, but the night after they branded eleven runners against the Red Sox, they left eight more on base. Anthony Rizzo on the challenge of the division. Good team, They're they're a good team. They're that's this whole divisions, the Blue Jays. The raise. I just think every game and every day is is you know, we lost, that's it, and tomorrow will come back. And two we can do to win,

and that's that's really all I can do. Mets in Philadelphia and like Sunday in Washington, great pitching for seven innings, metsic afore nothing lead of the eighth and the lead disappeared in the eighth. Phillies scored five times offer leavers Joe Ellie Rodriguez and Seth Lugo in the fields won five for Alec Bohm, the Phillies third basement had a rough night. He had errors in each of the first three innings. Before the Nets can be part of the NBA Playoffs, they have to win in the play in

They host Cleveland tonight. The winner is the seventh seed and takes on Boston. The loser has another game Friday to then try and be the eight seed. Rangers tonight host Carolina. That's the first place in the Metropolitan Division. St. Peter's name. Basher Mason is new basketball coach, replacing Seen Halloway,

who left for Seton Hall. Mason had been at Wagner, pof Peacock's Course said that historic n C double a run three of the top players in that t mark transferring John Stash that Bloomberg Sports taking all right, John, thank you sixty seven on Wall Street. Time to take a look at stock, some of the names moving in the pre market with Bloomberg Radio and TV markets correspondent Creedy Goopeda. Of course, creedy traders are bracing for that

March CPI print. What are you watching this morning? Yeah, marching bracing for the March cp I print, like you said, but also keeping an eye on those textures because essentially it's those textures that are making or breaking index games lately. Yesterday, of course, you know, the NASTAC took quite the beating, dropping apps over two percent, I should say, dragging the SMP five hundred down with it today maybe making a very small comeback, we'll see. Let's start with Apple here

underneath the hood. A ap L is your taking. Announ's only down one tenth of a percent, but City coming out and saying that it expects Apple to raise its dividend and add as much as ninety billion dollars in buy backs. It also comes the report's second quarter results later this month, so earlier in the session, this was giving Apple a bit of a boost. Let's see if that boost comes back at the start of trading, because that could actually help perhaps drive some games for the

entire SMP five hundred. To the downside, though, you do have Cisco at c s c O. Is your ticker down a whopping two percent once again. This comes after a city move City cutting it on competition from Juniper and Arista. City says Juniper and Arista are gaining more market share from Cisco, and as the trend evolved, Cisco could face a compression and valuation multiple. That's a lot of fancy talk, Nathan, for essentially, Cisco is kind of losing a little bit of market share really having to

deal with competition. They've been growing so much. How much more can they grow when they've already made so much progress. This is kind of perhaps a little bit of losing momentum that they're talking about. Once again, c s c O down two percent. I shall also talk about n video n v d A. This is an interesting story, Nathan, because of course we know this is the chip maker, the heavyweight in the SMP five hundred and the NaSTA as well as the socks and as well as something

that a lot of other chipmakers take their cue from. Well, it's bouncing back up six tenths of a present after dropping twenty in the last five sessions. So you really want to have tech on your side to see those broad games, and lately we just haven't had that. A lot of going on in tech this morning outside the sector though, anything else catching your eye, Well, we got

to talk about hardware. This is tech adjacent, I'll say, And once again this really comes down to the whole tech theme, but this is tech adjason as opposed to your big tech players. Morgan Stanley also now saying it's cautious on telecom hardware. It actually cuts three stocks, including Hewlett Packard Enterprises hp F five f F I V is your taker at n T A P. That's the

taker from net out there all down this morning. Nathan all Right, Bloomberg Radio and TV Markets, corresponding Crety Goop that keeping an eye on the tech stocks and the rest of the market as we take a look at stocks as a whole. Before the Tuesday morning open and before the release of the March cp I futures a touch higher. Right now, SNP futures up almost four points down, futures up a let ben NAZDAC futures leading the gains after yesterday's big losses for the nastac one. NaSTA futures

are up thirty two points. The tenure treasury is down to thirty seconds, the yield two points on the tenure note. You're listening to Bloomberg Daybreak Bloomberg eleven three or whether Probably mostly sunny today with a high in neear seventy, a mix of sun and clouds, upper sixties tomorrow, afternoon showers and thunderstorms likely Thursday, with a high near seventy five. Right now, fifty degrees in Central Park