Bloomberg Daybreak: April 22, 2022 - Hour 2 (Radio)

to take away disney self governance privileges. Michael Barr More ahead, I'm down stage there. In sports, the Mets one of the Yankees were shut out, the Rangers beat the Islanders

on the road. Teams one in the NBA playoffs. That's all straight ahead on Bloomberg Daybreak on Bloomberg Eleventory on New York, Bloomberg one, Washington, d C, Bloomberg one or six one, Boston, Bloomberg nine six, San Francisco, Sirius x M one nine team and around the world on Bloomberg Radio dot Com and via the Bloomberg Business add And good morning. I'm far at Moscow. I'm Nathan Hagar. 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 manage risk at Pershing dot Com and U Stock Index futures are lower this morning

six oh one on Wall Street. We check the markets every fifteen minutes throughout the trading day on Bloomberg S and P futures down sixteen boys down, futures down, WAE NAS day futures down fifties seven, the decks in Germany's down one point nine percent, and the tenure treasury down eight thirty seconds held two point nine four percent. Nathan, all right, Karen, we'll have more on the markets in a minute. First, the latest on the war in Ukraine.

The US is sending another one point three billion dollars in aid, eight hundred million of that will be weapons, including so called ghost drones. We get the latest from Bloomberg, said Baxter. Pentagon's spokesman John Kirby says ghosts will work well in Ukraine. In discussions with the Ukrainians again about their requirements. We believed that this particular system would very nicely suit um their needs, particularly in eastern Ukraine. And

President Biden says the military help is very large. The United States alone has provided ten anti armor systems for every one Russian tank that's in Ukraine. Biden says help is on the way. In San Francisco, I'm at Baxter Bloomberg Daybreak, all right, and thank you by those so called ghost drones could be enough to take out a massive tank assault by Russia. That's according to retired Brigadier General Mark Kimmet, but he says Ukraine still needs more.

We may be over selling the capabilities of the artillery that we're sending in. That much artillery and that much ammunition is great, but it's not a silver bullet and it's not going to change the tide of the war. And retired General Mark Kimmitt spoke to our Washington corresponded Joe Matthew on bloom Burry Sound on if you can catch the program weekdays at find pm Eastern on Bloomberg Radio. And we also kind up with former Secretary of State John Kerry. He said the US and its allies have

provided significant support. I think the reinforcement of efforts in the Baltics. I think the movement by Finland and Sweden to consider being a pardonato, etcetera. All of those are very important measures, and hopefully we can do it in a way that still gives President Putin an off rant. And John Kerry, now Special Presidential Envoy for a Climate spoke with Bloomberg Television from the m i T Climate

Grand Challenges event in Boston. Speaking of Climate Karen. Today is Earth Day and President Biden is using it to issue an executive order protecting old growth forests. Amy Morris has details from our Bloomberg news room in Washington. The federal government will inventory the old growth forests on federal lands, analyze the threats, and create policies to reduce those risks.

Last year's infrastructure bill allocated eight billion dollars in forest and land management funds, plus another five point seven billion for wildfuyer management. This work will help them decide how best to spend that money. It will also require the government to increase seed collection and nursery capacity for replanting. After a wildfire in Washington. I'm maybe more as Bloomberg Daybreak.

All right, Amy, thank you about turning to the economy. Now, FED chair J. Powell is outlined his most aggressive approach to taming inflation to date. He has potentially endorsed two or more half percentage point interest rate increases. It is appropriate in my view to be moving a little more quickly, and I also I also think there's something in the idea of front end loading whatever accommodation one thinks is appropriate. So so that does point points in the direction of

of fifty basis points being on the table. Certainly, we make these decisions at the meeting and will make a meeting by meeting, but I would say that fifty basis points will be on the table for the main meeting, and J. Powell and the FED make their interest rate decision on May fourth. Well, that hawk is tone from Chairman Powell. Karen sent ripples through markets of policy sensitive two year yield climbed to its highest level since late The NASAC wiped out an early two percent gain yesterday

to drop two percent. The SMP five hundred felt one and a half percent. Amanda Gotti, chief investment officer PNC Asset Management, says the FED is spooking investors. The one thing that keeps me up at night more than anything else is that the FED is fighting effectively the wrong battle. That is, they end up tightening policy, whether in the form of interest rate increases or q T way too aggressively to the point where that's what flows growth meetings.

Le p NC Asset Management Chief Investment Officer Amanda Gotti made the comments on Bloomberg Business Week. Catch the program on Bloomberg Radio Week the afternoons from two to five pm, All Street Time. Sorry Nathan, thank you. And the yen is little change this morning. The move comes after the Finance Minister of Japan said he discussed recent abrupt moves in the currency, which Treasury Secretary Janet Yellen. He said the two agreed to uphold existing foreign exchange rate agreements.

And I'll talk live later this morning on Janet Yellen or with Janet Yellen rather, that's coming up at eleven thirty am. Wall Straight Time on both Bloomberg Radio and television turned into corporate news. Karen elon Musk's attempt to buy Twitter has gotten a lot more real. Let's get the details on that live from Bloomberg. Jranita Young. Good morning, Granita, Good morning. Nathan Elon. Musk said last week that fifty four dollars and twenty cents a share was his best

and final offer to take Twitter private. Financing was not spelled out then, and it was hard to tell whether Musk would follow through with the offer until yesterday, when Musk announced in a filing that he secured forty six point five billion dollars in funding. About twenty six billion of that would be debt financing for Morgan Stanley and other investment banks, and Musk is contributing twenty one billion

of his own money through equity financing. Bloomberg calculations show the financing Musk secured is about nine billion dollars more than what he would need to acquire thee of Twitter that he does not already own, and it signals that he might go higher. Live in New York. I'm Ranita Young, Bloomberg dayper Okay, Nita, Thanks, and France has issued an international arrest warrant for the former head of Nissan and Renault, Carlos Gone. Four others are also being sought for allegedly

helping Going siphon millions from Renault. Gonel lives in Lebanon after a daring escape from Japan, where he faced charges of financial wrongdoing. You're listening to Bloomberg Daybreak and it's down six oh seven on Wall Street for in fifty two degrees in Central Park. Still dealing with the accident on the South under Jersey Turnpike near exit nine. Details come up in traffic. First Michael bar with more on what's going on in New York and around the world.

Come morning, Michael, Good Morning. Nathan. A man arrested in the stabbing death of the Queen's mother, was reigned Late last night. Rsilia Gal was found stuffed into a duffel bag blocks from her home in Forest Hills after she was snabbed almost sixty times. N Y p DS Chief of Detective James Essex says the suspect, David Benola, and the victim, had an intimate relationship for over a year and had an argument at Gal's home centered a night.

A heated argument ensues between the two in the basement, a knife is brandished, A violent struggle ensues, resulting in all victim being stabbed. Chief Essex says Manola, described as a handyman, faces charges of second degree murder, criminal tampering, and possession of a weapon. A panel of New York appellate judges rule that state Democrats engaged in gerrymandering in

drawing new congressional district boundaries for the next decade. If upheld, ruling would block the use of those district lines for the upcoming midterm elections in November. Florida's Republican controlled legislature has clear to measure to strip Disney of itself governance privileges in the state. The House approved the bility yesterday. Disney criticized the law. Critics called that don't say gave measure. The move could have huge tax implications for Disney and

the counties that would take over Disney's political space. Florida Republican House Speaker Chris browns, I've long been a believer on these special taxing districts, whether it's Disney or others, that we need to look at them, that they are a subterranean state of unaccountability, and we need to draw attention to them. And that's what we did here this week. Speaker Sprowl says it was passed by the Senate on Wednesday and now goes to Governor de Santis for a signature.

House Republican leader Kevin McCarthy told other GOP lawmakers shortly after the January Capital Ryant that he would urge then President Donald Trump to resign. That's according to an audio recording posted by The New York Times. The Times reports that the audio is recording of a January tenth conversation among House GOP leaders in which they discussed the Democratic effort to remove Trump from office. Would have with him is that I think this will pass, and it will

be by recommendation we should be done. Earlier yesterday, after The Times published its initial story describing the conversation, McCarthy released a statement calling it totally false and wrong. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than journalists and now lost more than a d twenty countries. I'm Michael bar This is Bloomberg. Nathan. Thanks Michael. Almost six ten on Wall Street Time for the Bloomberg Sports Update with John ses

all right, Nathan. Miguel Cabrera three hits Wednesday night. I got him to two thousand, nine hundred and ninety nine for his career. So a fairly decent crowd on hand for a Mattnee and Detroit chance to see Cabrera become the thirty third member of the three fas at hit club.

He went over three against the Yankees. Jordan Montgomery had one more chance came up in the eighth inning with Detroit leading one and up being Aaron Brune walked Cabrera intentionally that loaded the basis to pop up shallow left center. Will it drop well? Two runs are in and Miguel Cabrera will make it over the third. Austin Meadows drops to pop up in the shadow left center to unscore the Tigers. Sick of three nothing, leading Tigers one three nothing, w x y t and Detroit had to call. Tiger

fans voice their displeasure with Boone's decision. But the Tigers are home this weekend, so Cabrera should still be able to reach the milestone at home. Yankees come home. Now there's seven and six. They were shut out twice in their last four games, matter ten and four. They played fourth series they've won them all. Took three or four from the Giant six to one at Citi Field. Strong pitching from Carlos Carrasco. Home runs by Francisco Lindor and edwardo Escobar at the u B S Arena. What a

first period for the Rangers. Andrew Coppa first period hat trick. Rangers beat the Islanders six to three, So they didn't get a fourth grade shutout, but they didn't get a fourth grade win and they were made time for first with Carolina. NBA Playoffs. Huge comeback by Memphis at Minnesota, actually two of them, trailed by twenty six, got it down to seven, went back behind by Grizzlies. Still want

to lead the series to one. Dallas one at Utah for at two one series leading Golden State one at Denver, and the Warriors are up three games. Tonight, John stash Atward bloom Nathan Okay, John, thanks right now. SMP futures are down almost sixteen point STOU futures down a hundred twenty NASTACT futures are lower by fifty four points, so adding to the losses this morning, the ten your treasuries down seven thirty seconds right now, the yield two point nine.

You're listening to Bloomberg Taber Bloomberg eleven three oh weather sunshine today with a hind your seventy degrees partly sunny, low sixties tomorrow, and we'll be near seventy on Sunday under a mix of sun and clouds. Right now, it's fifty two degrees in Central Park. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Out, and at Bloomberg Quick Tape, He's

a Bloomberg business lash and I'm Karen Moscow. And US treasuries are tumbling US dot Index futures extending losses as investors way Federal Reserve chairs around Powell's willingness to embrace bigger rate highs. Earlier in the tightening cycle, we checked the markets every fifteen minutes throughout the trading day on Bloomberg. Right now is in p Futures are down fifteen points down. Futures down a hundred sixteen now's day, futures down fourty nine.

The Dacks in Germany is down one point nine percent ten. Your treasury down six thirty seconds two point nine three percent. They yield on the two year two point seven five percent. Nine. Max Screwed oil is down one point nine percent at a dollar ninety four and a hundred one dollars eighty five cents of barrel comics. Gold is down a third of a percent, or six dollars fifty cents at nineteen

forty one eight. Announce the Euro one point zero eight zero two against the dollar British found one point to eight seven two and the end is at one eight point four eight and Bitcoin this morning lower down six tenths percent at forty thousand, three hundred eighty dollars. And as if Bloomberg Business Flash, Now here's Michael Barb with more on what's going on around the world. Michael Karen, thank you very much. New satellite images show would appear

to be mass graves near Maryuple in southern Ukraine. Local officials are accusing Russia burying up to nine thousand civilians there in an effort to con seal the slaughter taking place in the siege of the ports city Philadelphia, health officials say they're ending the city's indoor masked man date abruptly withs and course, just days after people in the

city had to start wearing masks again. In the NBA Playoffs, the Warriors beat the Nuggets one eighteen, one thirteen to take a commanding three games the Zip lead in that series. In MLB, the Yankees, Red Sox Nationals lost, The Mets beat the Giant six to the A's beat the Oriole six four. In the NHL, the Rangers beat the Islanders

six three, the Devil's and Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than twenty seven hundred journalists analysts more than a hundred twenty countries. I'm Michael Barr, and this is Bloomberg Nathan by Michael. Thank you. It's six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.

This is Bloomberg day Break. We want to take a minute now to focus on the pandemic because we have seen a lot of movement this week when it comes to mask mandates. The b A two sub variant continues to drive case counts higher in much of this country, and of course there's been a dramatic lockdown in Asia. Andy Heckos is back with us this morning, professor of molecular microbiology and Immunology at the Johns Hopkins Bloomberg School

of Public Health. Doctor, It's good to have you back on with US, and I want to pick up on the story that Michael just mentioned their Philadelphia reversing its mask mandate after just a couple of days. And of course we've seen the legal fight over the mandate on public transit. I wonder what how it affects the fight against the pandemic when you have sort of these shifting mandates, shifting guidance on whether we even need to wear masks at this point. Yeah, this is let's start with the

court ruling. I think it's very unfortunate that the court would come in and try to sort of gut a public health law which was really in place to give powers to prevent infectious diseases. And it sounded like there were some semantic works that were being used there to really sort of make this major decision as to what the government can do in terms of public health interventions. Now that even that we are in a different place in this pandemic, we're seeing some cases increase in parts

of the country, others not increasing. Overall, we're at a very low place, so we are at the stage of this response where we could consider lifting some public health interventions. You know, the problem really becomes public health doesn't want to remove interventions too early. They need to instill them early though if there is a surge. And so we're in this gray area now where different public health individuals are making their calls based on local um UH conditions,

and sometimes those calls are not black and white. Are we in a gray area when it comes to where the pandemic could go at this point because it seems like the case counsel they may be going up. Hospitalizations are either holding steady or still falling at this point is not going to continue to be the case absolutely, and I think this is the most critical thing that we want to keep keep an eye on for the

next couple of weeks. If we continue to stay in this area where case numbers might be increasing at relatively low rates, to hospitalization stay low, and I think we're in a place where we can really sort of continue to relax public health interventions and be able to deal with the case numbers through perhaps increased vaccination and also UH the use of anti virals for individuals we do get sick. So this is a really critical time for monitoring. It's hard to protect the future even two or three

weeks away. But things are looking good and and I'm optimistic that we're at a stage where we might be seeing a real change in how we deal with the pandemic. Will we be able to continue with that kind of stance if we don't get further COVID mitigation funding on Capitol Hill. We're getting Congress coming back next week, and I imagine there's going to be a pretty quick debate on how to get those funds unlocked, How are they needed, what will those funds do in terms of the fight.

This funding is absolutely critical to maintain our prepara preparedness UH to deal with this pandemic. You know, it's funding testing, it's funding anti virals, it's funding vaccines. These are the things that we can't forget about, even if we are going to relieve our public health interventions. To have the testing capacity, we need to be able to give people antivirals quickly, and we need to give people vaccines as needed, as quickly as possible, and so we can relieve public

health interventions. But this funding is important for those sort of baseline things that have to be done going forward, so we can maintain our preparedness for a potential surge. Although we hope that we won't be seeing more large surges. Only about thirty seconds left here, doctor, how do you see the pandemic at this point? Is covid endemic now? Is it a seasonal virus? How do you look at it? Yeah, we we we know it's going to be endemic. There's no way we will get rid of uh COVID nineteen.

What we really are thinking about now is we don't want people to think that it's a minor threat because it's still causes some serious disease. We can deal with it. We have the tools to deal with We just have to use those tools efficiently now to maintain where we are. Thank you, Dr good having you on back with us. Dr Andy Peckosh, Professor of molecular microbiology and Immunology at the Johns Hopkins Bloomberg School of Public Health, which is

supported by Michael Bloomberg. He's the founder and majority owner of Bloomberg LP, the parent company of Bloomberg Radio. Right now, SP futures down fifteen points, STAFF futures down one, NAZDAC futures down forty nine points, the tenure treasury down six thirty seconds, the yield two point nine three percent. The yield on the two year. Right now just shy of

two point seven six. You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather sunshine with a high close to seventy today, low sixties, partly sunny tomorrow, while have a mix of sun and clouds in the high near seventy on Sunday right now fifty three degrees in Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio in New York.

Bloomberg E Loving Freedom to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg nine sixty to the Country, Sirius XM to the one nine ten, and around the globe, the Bloomberg Business apt and Bloomberg Radio dot Com. This is Bloomberg Daybreak and it's six thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow. We're just about three hours away from

the open of US trading. Time for the five things you need to know to start your day, Brought to you by Interactive Broker Simple I b k R Global Trader app. Deposit in your local currency and trade stocks in the US, Europe and Asia. Start to your free trial at I p k R dot com slash Global Trader. First President Biden announced the US will send another one

point three billion dollars in additional a to Ukraine. Retired Brigadier General Mark Kimmitt tells Bloomberg's Joe Matthew that the ghost of Jernes the US is sending should help Ukraine fight Russia. If they do have the capability to send out the suicide drones, with enough command of control keeping an eye on all this area, those suicide drones could probably stop a pretty massive tank assault, which is, as I said, the biggest single reward about in that section.

And retired Brigadier General Mark Kimmitt speaking with our Washington corresponded Joe Matthew on Bloomberg Sound on airing weekdays at five pm Eastern on Bloomberg Radio. Turning to the economy, Karen Fed Chair J Powell outlined the Federal reserves plan for taming inflation. Our goal is to is to is to get demand, use our tools to get demand and supplied back in sync so that inflation moves down and do so without a slowdown that amounts to a recession.

That's our goal. And I don't think you'll hear anyone at the FED say that that's going to be straightforward or easy. FED sher J. Palell says a half percentage point hike is on the table at the f y MC meeting in May, and to markets now now is jack and SP futures are lower this morning. US treasuries are tumbling and the dollar rose to its highest level since July. Time. Bank of America says outflows from US equity funds are just getting started with the FED tightening.

Strategist say in the week, grade investors pulled almost twenty billion dollars from large caps, the largest exit since February. We'll incorporate news Nathan Elon musk pursuit of Twitter continues. We get the latest line from Bloomberg's Ready Too Young, Good Morning Ready to Good Morning Care and Elon Musk said last week that fifty four dollars and twenty cents a share was his best and final offer to take

Twitter private. It was unclear if Musk would follow through until yesterday, when he announced he secured forty six point five billion dollars in funding. Almost twenty six billion of that would be debt financing. For Morgan Stanley and other investment banks, and Musk is contributing twenty one billion of his own money through equity financing. Bloomberg calculations show the financing Musk secured is about nine billion dollars more than what he would need to acquire of Twitter he does

not already own. Live in New York. I'm Rnita Young Bloomberg Daybreak A right, Brinita, thank you. That's the five things you need to notice start your day. Brought to you by Interactive Brokers. And it's now six thirty three on Wall Street fifty three degrees in Central Park. Got a new accident southbound Harlem River Drive at the Willis Avenue Bridge. Details coming up in Traffic. First Michael Barr with more on what's going on in New York and

around the world. Good morning, Michael, Good morning. Nathan, a handyman who was arrested for killing a queen's wife and mother of two, made a late night court appearance. If it Banola is accused of stabbing or Sola Gal who's stabbed body was found in a Duffel bag last Saturday. In my p D Detective's Chief James mr Bonella is a handyman who was employed by Mrs Gal. They have been having an intimate affair for approximately two years. Chief Essex says a heated argument ensued between the two and

the basement and Gali stabbed more than fifty times. On this Earth Day, a group of self proclaimed climate activists aimed to disrupt the distribution of The New York Times, accusing the publication of not doing enough to call attention to global warming. This woman was part of the standoff in College Point, Queens this morning. I would have with him is that I think this will pass and it will be my recommendation you should be done. That is

a tape of Kevin McCarthy, my apologies. That is the tape of the House speaker, the or the minority House speaker, and he was talking about the latest involved and trying to get President Trump to resign. He denied the story at first, but then there was audio that said that he did so. Representative Marjorie Taylor Green of Georgia will be testifying under oath today and a legal challenge to

remove her from next month's Republican Party primary. A group of voters as Green violated a provision in the fourteenth amendment that disqualifies any candidate for office if they are a member of an insurrection. Buying a piece of Hollywood history had crowds lining up around the Los Angeles home of the late Jeopardy host Alex Trebeck. Hundreds of Trebeck's items are on sale through Sunday. This man waited in line for two hours, but said the trip was well

worth it. I got myself a nice little bottle of whiskey that I'm gonna tell s Alex trevec tonight when I watched Jeopardy. I got this lovely tie on one of his canes. But I tell you, most of the fun is just being at this house. Very cool. Some of the items included a director's chair with his name on it or Nate rud book sculptures, and autographed num Rebelia Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than the journalists, analysts,

more than a hundred twenty countries. Him Michael Barr, and this is Bloomberg. Nathan, Thanks Michael. Almost six thirty six on Wall Street, time for the Bloomberg Sports Update. Here again, it's John Stash, all right, Nathan Yankees were going for their first series suite for the season, but they failed to score against the x Yank Michael Pinata. The Detroit Polpen Tigers won three nothing. Yanks had a chance eighth, did ain't down one nothing, had the basis loaded one

outfailed to score, and then bottom the eighth. The Tigers score twice as Austin Meadows Bloom did a two run double. Aaron Boom chose to walk Miguel Cabrera intentionally to pitch the Meadows. That infuriated Tiger fans who were there to see Cabrera get his three thousand career head. Here's Boom on the decision. It's a baseball call all the way, you know, but but there's no doubt that there's a little more like, you know, feeling to it right when

you're you know, understanding the situation. So um, you know. But in the end, you gotta go with what you think is is right within the within the context of the game. Tigers are home this weekend, so Cabrera figures to still reach the milestone at home. Yankees come home now to play the Cleveland Guardians. Mets to play at Arizona tonight. They beat the Giants in City Fields six to two. Francisco Lindor continues his hot start. He had

a just two thirty last season. Glendora's at three oh eight just in his fourth home out of the season. Another win for the Rangers, fourth row fifty feet of the season, six three over the Islanders as Andrew Copp had the hat trick before the first period was over. R Temmy Panner and assisted all all three later got another. He's got seventy three assist. Chris Cryder now has fifty one goals. NBA Playoffs. Three wins by road teams, Golden

State at Denver for a three nothing series lead. Dallas wanted you tay to go up to one in Memphis, now up to one on Minnesota. The Grizzlies came from twenty six points down to win. John Stash Bloomberg Sports Nathan Okay, John thanks at six thirty seven on Wall Street. Time to take a look at some of the names moving in the pre market. For that, we're joined by Bloomberg Radio and TV Markets correspondent Crety Gupta, obviously created the broader market is focused on tighter talk from the FED,

but some individual names are moving on earnings. This morning. Those earnings still coming out fast and furious, and I think to your point, Nathan, they're kind of taking a little bit of a backseat just given all of this kind of hawk ish talk that you're hearing anything to Moura, for example, time about seventy five basis points in the

July meetings. It's wild, But you can't forget the earning story because this is really important when it comes to how much they can actually pass on some of the cost of consumers, how much they can rely on their cash cushion, and also how much they're growing in this inflationary environment. And that's where I think Snapchat is a really key stock to look at. S n a p s your taker down one point six percent this morning.

Now this is important because they did miss their first quarter estimate, so naturally you're seeing a little bit of pressure in the stock, but they also had stronger user growth um And that being said, they al said the company CFOs that he believed the war in Ukraine would continue to impact marketing budget. Remember Snapchat, Twitter, Pinterest, they get their money from advertising ad spend, which is really

dependent on cicklicality. How much kind of business investments are people willing to spend on marketing and things like that. So obviously the war Ukraine certainly pressuring that. But what it was also interesting is the analysts remain pretty positive.

That's not reflecting in the stock yet, which is why you want to keep an eye on this Taker s n a p going into the open, because what they're saying is that, well, if they have stronger user growth in this inflationary, slowing growth environment in the background of the war in Ukraine, then that kind of means they could do better in an even better environment. So they're saying that these results aren't too bad. Once again, let's see if the stock market actually digests that. Now. I

see you're keeping an eye on Gap as well. Of course, they reported earnings and the inflation picture is very important for their outlook as well. Yeah, the worst performer this morning in the SMPPS is your Taker down. This comes after they lowered their quarterly sales growth guidance. And ember Gap is the parent company for Banana Republic, Gap Clothing,

Old Navy athleta cetera. But the president CEO, Nancy Green of Old Navy actually is leaving the company as well, and analysts are saying well, the focus is really on Old Navy. Can they continue to grow at the same kind of pace that they have in the past couple of days, especially if they lose their leaders. So we're gonna keep an eye on those shares. GPS down thirteen well, now fourteen percent. I say, moving to the downside very quickly. I'm gonna end very quickly with Boston Beer. For anyone

who drinks Sam Adams, I'm not a beer girl. Maybe who are okay, but the girl that's for sure. Fair enough. Well, they missed estimates a lot of the saying that hurt by shipment volume. Decreases in truly Hard Seltzer, Twisted Tea, and Great Orchard and dog fish Head brands, but increases in the Samuel Adams brand. So once again it does come down to shipments for that company. Those shares only down one ton of percent, but analysts expecting it to

move once the market opens. Shairs Bloomberg Grading and TV Markets correspondent Creedy gufta with us on this Friday morning looking at stocks as a whole ahead of the open. The futures are moving lower. We have SMP futures down eighteen points. Staff future is down a hunt at thirty nine. NASTAC futures are lower by sixty one points. Looking at the tenure, it's down six thirty seconds. The yield two point nine three percent. Yield on the two year two

point seven five. Stay with us. You're listening to Bloomberg Daybreak on this Friday morning. Bloomberg eleven three oh weather sunshine with a high near seventy today, it will be partly Sunday Tomorrow low sixties, upper sixties, mix of sun and clouds for Sunday. Nice weekend on tap currently fifty three in Central Park Markets. Headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business Out and at Bloomberg Bricktake is a Bloomberg Business Flash.

And I'm Karen Moscow. There's update brought to you by b and Why Mellon's Pershing. Learn why the world's most sophisticated wealth meta, mint and institutional firms rely on Pershing to help them improve profitability, create efficiency, attract talent and manage risk At Pershing dot Com. Futures this morning moving lower. We got the first word breaking news desk for today's morning call. Here's Bill maloney, Bill, good morning, and good morning, Karen.

That's right. US futures are in the red right now, with death futures down a hundred and one point, ssames drop twelve, Nasadak futures declined by thirty three. The US ten yeald at two point nine three percent, Gold is down nineteen, Oil is also fading, and bitcoin is down by point seven percent. Japan dropped one point six percent overnight, while europ markets are also in the red, led by

two percent losses in Germany. Back in the US. On the economic front, at US April Manufacturing p m I and after the belast night Intuitive Surgical EPs beat estimates, SNAP revenue guidance did fall short, and regarding earnings this morning, s a P reported a profit miss. Also look for American Express, Kimberly Clark, and Verizon to report in the pre market. Rapping things up, jeb Lou has cut to hold over at Deutsche Bank. American Airlines raised to neutral

over h Ap. Morgan Live on the first to breaking news discom Boo Maloney, care all right, Bill, thank you, and to hear live breaking news of your Bloomberg type squawk on your terminal. SCU A W k 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. The US is sending a new batch of military equipment to Ukraine to help that country battle the

Russian invasion. Among the new hardware aren't new Phoenix ghost drones. Philadelphia health officials say they're ending the city's into a mask mandate, abruptly reversing course just days after people in the city had to start wearing masks again and then a sharp increase in infections. According to the Philadelphia Health Department, there has been decreasing hospitalizations and leveling of case counts.

In the NBA playoffs, the Warriors beat the Nuggets one eighteen, one thirteen to take a commanding three games to zip lead in that series. In MLB, the Yankees red sog Nationals lost, The Mets beat the Giant six to the A's beat the Orioles six four. In the NHL, the Rangers beat the Islanders six three, the Devil's and Bruins lost.

Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. I'm Michael barn. This is Bloomberg here all right, Michael, thank you. Six forty nine on Wall Street returned to

news and science and technology. Now, but the Bloomberg and j I T STEM Report, brought to you by New Jersey Institute of Technology, ranked top fifty national public university by US News and World Report and a top ten for best career placement among public schools by the Princeton Review. More at n j I T DOT E d U and now here's this making news and science, technology, engineering,

and math. President Biden sent his administration's first national drug control strategy to Congress as the US overdose death toll hit a new record of nearly one hundred seven thousand during the past twelve months. The White House says a strategy is the first national anti prioritize was known as harm reduction. That means it focuses on preventing death and illness and drug users while trying to engage them in

care and treatment. Later today, the President will sign an Earth Day Executive Order designed to safeguard old growth forests that have common a threat from wildfires and drought. Scientists have identified old growth trees as critical to fighting climate change because they function as reservoirs for carbon dioxide, a

key greenhouse gas. And separately, according to scientists at the Copernicus Climate Change Service, climate change produced another record breaking year of extreme weather in Europe in one, triggering catastrophic flooding and the hottest summer on record. Globally, the last seven years have been the warmest since records began in eighteen fifty one, ranking six. And that's the Bloomberg and j. I. T.

Stamm Report. Nathan, all right, Karen, thank you. We are live from the Bloomberg Interactive Brokers Studios or at six fifty one on Wall Street Time Now to check what's going on in DC. Some of the top stories in our nation's capital include the US sending even more aid, more than a billion dollars worth to Ukraine, President Biden warning Democrats they need to clue voters in on their achievements, and House Republican leader Kevin McCarthy denying he would push

for a former President Trump to resign. But there are tapes, let's get now and all these stories. Bloomberg Government reporter Emily Wilkins joins US now from the nation's capital, Emily. So yet more aid is coming, and I guess the question is, isn't coming soon enough? Is it going to be enough for Ukraine to turn the tide? Yeah, Nathan, We've got one point three billion that Biden has announced

so far in additional aid. Eight hundred million of thoughts going to be going to weapons, and Biden said these are different kinds of weapons, ones that really reflect the changes of this invasion into Ukraine. But that's not going to be everything. Biden also said that he was going to be putting in a new funding request to Congress Speaker Nancy Pelosi said that they expect to see that in the next few days and that they're going to

try to move on that as quickly as possible. It might not be next week, but if they can move quickly, they might be able to really get this through. There's still a lot of bipartisan support. UM. I think at this point, the mindset in in d C is that this invasion is going to be going on for quite some time, that the US is committed to continuing to provide Ukraine with military aid, humanitarian aid, aid for refugees, um.

But at this point they're still holding firm to that red line that they're not going to be sending an American troops, they're not going to be instituting a no fly zone, but they will be helping out Ukraine in a financial sense. So while we wait for the details on how much more of that financing could be coming from Capitol Hill, we've been hearing from Ukrainian officials in Washington talking about the idea they need a martial style plan to rebuild once this war ends. They're talking about

something like six hundred billion dollars. I mean, what's the appetite not just for Congress, but for allies that are meeting in Why Shington for that kind of support for Ukraine after the war? Right now? I think there is a lot of support, at least in Congress, at least in the US. I mean, you've obviously seen sort of different levels of desire to support Ukraine or at a wider global scale across Europe as far as what countries are and aren't willing to do and are aren't able

to do at this point too. I mean when it comes to gas prices into Russian oil um. And I think this is something that Biden is going to continue to focus on. He's really painted himself as someone who has worked with Europe, who has worked with other countries,

who has brought them along. And you're even seeing some concerns raised by State Department officials, you know, warring China again recently, that you have sanctions could come if they wind up signing with Russia or helping Russia avoid some

of the impact of sanctions. Well, while the President focuses on continued support for Ukraine, we have heard him start to focus a little bit more now on getting ready for the mid terms, particularly with this trip out West, where he's really trying to talk up fellow Democrats and sort of get them enthused about the accomplishments he says that have already been made. Yeah, we've heard this line before from the White House saying that, you know, they

just need to tout their accomplishments more. I mean, you saw lawmakers alone Ado I think more than a thousand different events trying to let people know about this infrastructure bill and what it's going to be and what it's going to become. Certainly that is part of the Democrats strategy is going into the midterm, but neither. The reality is that Biden's poll numbers are down, and they're not

just down because people don't think he's doing things. They're down for a number of reasons, uh, including the fact that inflation is high, that gas prices are high, that COVID nineteen is still an issue in some areas of the country, and there is now a very divided electorate and when it comes to how to deal it and what to roll back. You're seeing that right now within the Democratic Party, just over what should happen with immigration

pandemic related processes. So really, I think there's a much bigger problem for the Democrats going into this November than simply telling voters what they've done with infrastructure. It's certainly a piece of what Democrats are going to be pushing. I'm sure you'll see Biden make more trips like the ones he's made this week to talk about it. But but there are much larger problems with here, and not

all of them are within the control of the Biden administration. Well, there's another interesting political dynamic here heading into the mid terms. We're seeing potentially, uh, some possibility of a split within the Republican Party, particularly when you think about this new tape that has come out of House Republican leader Kevin McCarthy saying that he at the time would have pushed

for then President Trump to resign after January six. Yeah, Nathan, this was pretty explosive of The New York Times came out with this story the other day in McCarthy's office to hide it, said it was inaccurate. And then last night, Uh, the two reporters from the Times went on MSNBC and they actually played a recording of McCarthy saying that he thought that Trump should resign, that he needed to step down. Uh. And this is way back right after the aftermath of

January six, and McCarthy we've really kind of seen. He was one of the individuals who, you know, really seem to come out strong against Trump in the immediate aftermath. But over time his rhetorics softened, he became sort of more,

you know, more appeasing to the president. And a lot of this is tied because McCarthy is he's the top Republican in the House, he's in line to be speaker, and he's trying to sort of maneuver between appealing both to the sort of traditional mainstream Reagan era Republicans and then the sort of new Trump era Republicans. He's got to keep both of those groups together and both of them in their favor to be speaker. I think the big question right now in d C is how does

Trump respond to this news. Does he go after Kevin McCarthy, because if he does, that might mean that we'll see someone else become speaker next year. If Republicans win in November, it's gonna be really interesting to see whether this resonates outside the belt Way. Well, we'll leave it there for now. Thank you, as always, Bloomberg Government reporter Emily Wilkins, and you can read more about all these stories on Bloomberg

dot com or on the Bloomberg terminal. Listen to Bloomberg Radio in Washington at Bloomberg and one oh five point seven FM HD two. Right now, SMP futures down sixteen points down, futures down a, Nasdaq futures down fifty two points. The tenure Treasury is down seven thirty seconds, with the yield two point nine three percent yield on the two year two point seven four Bloomberg Surveillance is next for Karen Moscow I'm Nathan Hagar. This is Bloomberg