Bloomberg Daybreak: April 26, 2022 - Hour 1 (Radio)

The southern border remains closed for migrants after a judge kept titled thirty two in place. On Michael bar More Ahead, I'm John Stans shown sports. The next season is over, swept by the Celtics, a ninthin rally for the Mets to win in St. Louis. That's all trendy Ahead on Bloomberg Daybreak on Bloomberg eleven, Free on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Sirius XM one nine team and around

the world. Then Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning, I'm Nathan Hagar. And I'm Karen. Moscow and US Dock Index futures are lower this morning. We're coming up to five o one on Wall Street, and we check the markets every fifteen minutes throughout the

trading day. On Bloomberg, Guess and P futures down seven points down, futures down seventy six, nasdack futures down seventeen The tenure Treasury up six thirty seconds two points seven nine percent, and they yield on the two year two point six zero percent and nine max Screwed oil is down one point two percent. Nathan, Karen, We begin this morning with one of the biggest leveraged buyouts in history. Elon Musk has clinched a forty four billion dollar deal

to take Twitter private. Investors will receive fifty four dollars and twenty cents for each Twitter share they own. We have team coverage for you this morning, starting with Ed Ludlow in our Bloomberg nine sixty newsroom in San Francisco. Ed has more on four changes Musk may make to the platform. Going for word, it's four main things. An edit button that is time sensitive. He's talks about that,

removing bots from the platform. He's talks about that open sourcing the algorithm and looking at the underlying technology for Twitter, and then finally he's going to look at the issues of vans. Elon must basically framed it as being he was more in favor of timeouts than all out bands on the platform, Bloomberg said. Ludlow says the deal was approved unanimously by Twitter's board. It is expected to be completed later this year. So where will Elon must get

the cash to buy Twitter? While Bloomberg's Rnita Young continues our team coverage and joins us Live in New York with that part of the story, Good morning Randa, Good morning care. And it's the twenty one billion dollar mystery. Now, there's little doubt Elon Musk can come up with the money. After all, the Bloomberg Billionaires Index shows he's the world's richest person with a fortune of two hundred fifty seven

billion dollars. But Bloomberg estimates show Musk has just about three billion in cash and somewhat liquid assets, So that leaves him with at least three options for financing. One way find other investors who buy into his vision, and he's already hinted at this possibility. Another way, he could sell some of his steak in Tesla, but that will

likely put the stock at risk. And Thirdly, since Musk is likely even richer than calculated by the Bloomberg Billionaires Index, he might not even need news sources of funding to cover the twenty one billion dollars. Live in New York. I'm really need a young Bloomberg daybreak. All right, we need to thank you now. Some lawmakers are pushing back against the buyout. Senator Elizabeth Warren is calling Musk's Twitter deal dangerous. Ed Baxtir continues our team coverage from our

Bloomberg nine sixty newsroom in San Francisco. Musk and Warren are familiar foes. They've had battles over a number of issues, but Warren's verbi and share is very strong. She says the deal is dangerous for our democracy. She says, quote billionaires like Elon Musk played by a different set of rules than everyone else, accumulating power for their own gain. It's dangerous because one billionaire decides how millions of people

will have an opportunity to communicate with each other. The deal has potential roadblocks, beginning with the SEC but this one threatens to be very heated. In San Francisco, I'm at Baxter Bloomberg Daybreak and thanks, and we have more

analysis on the most Twitter deal coming up. In just a few minutes, will be speaking live with Wedbush Senior analyst Dan ives Well Under the latest on the war in Ukraine, Nathan Russian Foreign Minister Sergei Lavrov warnts the risk of nuclear war is real and can't be underestimated. That's after Defense Secretary Lloyd Austin said the US wants to see Russian forces weakened in Ukraine. This morning, Secretary Austin is pledging continued US support. Ukraine has done a

magnificent job defending its sovereignty against Russia's unprovoked invasion. In Ukraine's valor and skill will go down in military history, and Defense Secretary Lloyd Austin spoke this morning from the Ramstein Air Base in Germany. Meantime, the White House says President Biden also is working on his next request for Ukraine aide to Congress. The Houses also taking action on

COVID Karen. Just this morning, the Biden administration is announcing it will allow all pharmacies to order Fiser's COVID nineteen therapy pill as it looks to boost access to the drugs supply increases. Starting this week, tens of thousands of pharmacies will be able to order the drug. Pilson's have started the pandemic, Nathan. Global events and meetings have gone

virtue all but now. FETCH chair j Powell is set to hold his first in person press conference since COVID emerged hell Me Live with reporters following the conclusion of next week's Today Policy Meeting. Inflation will be a main focus for Powell at that news conference. Karen and data this morning show prices heading even higher for consumers, according to a survey from the National Federation of Independent Business For Intent, US small businesses plan to raise prices by

at least ten percent. And I'm all Street today, Nathan, we get a clearer picture of how big business it's earnings are coming in. Earnings are rolling in this afternoon for Microsoft and Google. Let me get a preview from

Bloomberg's John Tucker. Google parent Alphabet has been held by a rebound and digital advertising, but the shares have LaGG and the stock will also face some more difficult year over year growth Comparis and analysts estimate earnings per shure of dollars seventy three cents, down two percent from a year earlier. At Microsoft, analysts are expanding earnings per shure of two nineteen. The company may report strong cloud results that could more than offset any potential weakness in its

consumer business. John Tucker, Bloomberg, Daybreak. All right, John, Thanks, it's also a big day for earnings in Europe. Let's get the latest done that live, we go to London and Bloomberg's You and Parts. Good morning You, and good morning Nathan and Karen. A trio of banking sector beats this morning. Ubs riding a trading boom with better than expected profit in the first quarter, but the Swiss banks key wealth management business hit by slowing clients activity and

rising costs. Spain's at Santande also beating estimates, with the retail banking giants geographical reach providing a buffer against growing economic risks. At HSBC posting a smaller joy in adjusted pretax profit than analysts predicted, Europe's biggest bank reporting the law than expected credit lost provisions in London. Immune Pault has been big daybreak. Okay, you and thanks right now. S and P futures are down eight point, staff futures

down ninety four, nanstack futures down twenty points. Straight ahead, your latest local headlines and a check of sports. This is Bloomberg and it's sound five oh seven on Wall Street. Our current temperature fifty two degrees. We have an accident in Brooklyn this morning. Ice found bt QE a headed near Atlantic Avenue. 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, and New York judge has found former President Donald Trump in contempt of court for failing to adequately respond to a subpoena issued by the state's attorney general is part of a civil investigation into his business dealings. The judge ordered Trump to pay a fine of ten thousand dollars

per day. New York Attorney General Letitia James and asked the court to hold Trump in contempt after he missed a March thirty first court imposed deadline to turn over documents. The federal judge in Louisiana has temporarily blocked Biden administration from lifting the border restrictions put in place during the coronavirus pandemic. Title forty two was supposed to be lifted on May three. The temporary restraining order was requested by

twenty one Republican led states. Bloomberg Politics contributor Rick Davis says, it seems the Biden administration has bungled its administration policy, and it just seems like they haven't really focused on what the impact is at the state level. They didn't consult states that are impacted by the border, and and now the whole thing seems to be adding a lot of confusion. Frankly, very reminiscent of the current COVID policy. Whether it just doesn't seem to be a strategy and

play here. Bloomberg Politics contributor Rick Davis spoke out with Washington correspondent Joe Matthew on Bloomberg Sound on Catch the program weekdays at five pm Eastern on Bloomberg Radio. Workers at a second Amazon dot Com warehouse in Statn Island began voting Monday on the weather to join an upstart union that already won a historic election at a nearby facility.

Employees at the warehouse called l d J five will cast their ballots through Friday, with the results expected as early as May second, Two days before a mother of fourteen children was scheduled to die in the Texas death Chamber, Melissa Luccio received the last minute reprieve. Supporters of Luccio, accused of killing her two year old child, found a forensic expert who says her child's fatal injuries were consistent

with an accidental fall. Luccio's son, John Luccio, We're gonna believe in God, and we're gonna continue believe in him and keeping keep our faith up with him in a keep on fighting this fight until we bring her home. She's no longer going to be executed. My mother will be free soon. Don Luccio says. The court will rule on the new evidence. Global News twenty four hours a day on air, hand on Bloomberg quick Take, powered by more than seven hundred journalist and analyists more than a

d tw two countries. Michael barn this is Bloomberg, alright, Michael, thank you. Tuning up to five ten on Wall Street time for the Bloomberg Sports Update and Morning Johnston to Morning Nathan. This NBA season began with high hopes for the New York teams and Knicks were expected to at least make the playoffs. The Nets were expected to compete

for the championship. Neither thing happened. The Celtics completely the first round sweet for the Nets, taking Game four in Brooklyn one sixteen to one twelve Jason Tatum twenty nine points. Boston survived Tatum fouling out in the fourth quarter. Kevin Durant, so quiet the first three games, did come alive with thirty nine points, but Durant goes out in the first round for the first time in his career. He also had never gotten swept in a series before k d

is signed. He should be back. Timber Yerby may not be, and who knows about Ben Simmons, who was acquired for James Harden and never played. Toronto stayed alive with the Game five win in Philadelphia. Dallas beat Utah by twenty five to go up three too. Memphis is John Moran and him the NBA's most improved player. The Mets in St. Louis, Max Scherzer was terrific and seven unti allowed no runs,

two hits, struck out ten got no run support. Cardinals broke up a scoreless game with two runs in the eighth. It ain't Mets then rallied in the ninth. He goes ready as pitch, We're gonna groundball toward first cold spit a typing stop. Nobody's clevering first. What the diego? Smith? This safe? Tick deal run third throw home d safe. The Mets have the lead. Tomin X Smith comes through off the bench with two outs in the top of the dine w C. He has. Brandon Nimo followed with

a two run omber. The Mets improved a thirteen and five. They beat the Cardinals five at two. Yankees owes Baltimore tonight. If the Rangers have any hopes of winning the division, they'll need to beat Carolina tonight at the Garden. John Stay Bloomberg Sports didn't thank john SMP futures down down six point Stouff futures down seventy nan Stack futures down eight. Attain your treasury up eight thirty seconds. The yield two point seven eight percent. Twitter shares of four tenths of

one percent. As Elon Musk buys it out, we get insights next from Dan Ives white Bush Securities. This is Bloomberg Bloomberg Daybreak is brought to you by the New York Community Trust. Your name will live on as a champion of the causes you care about for years to come through a charitable bequest to the New York Community Cross. Learn more at Philanthropist dot NYC. Markets headlines and breaking news twenty four hours a day at Bloomberg dot com,

the Bloomberg Business Outland at Bloomberg Quick Take. This is a Bloomberg Business flash and I'm Karen Moscow. Stocks in Europe are on the rise as China's pledged to boost monetary policy support where its COVID hit economy lifts sentiment, while traders are also lying a raft of earnings reports from some of the region's biggest companies. US DOCK index futures are lower, and we checked the markets every fifteen

minutes throughout the trading day on Bloomberg. Right now, U S and P futures are down seven points down few down seventy six, NASDACK futures down four team. The decks in Germany is up about one point two percent ten. Your treasury up eight thirty seconds, yield two point seven eight percent. They yield on a two year two point five nine percent, and II Max screwed oil is down one point three on a dollar thirty at ninety seven

four cents in barrel. That's a Bloomberg business flash. Now here's Michael Barr with Moore on what's going on around the world. Michael, good morning, Good morning, Karen. Russian Foreign Minister Sergey Lavrov war in the Ukraine against provoking World War three. Lavrov said on Russian TV that the threat

of a nuclear conflict should not be underestimated. There's mounting pressure on former Trump White House Chief of Staff Mark Meadows to turn over additional information to January sixth congressional investigators. More than two thousand of meadows texts, first reported by CNN have now been released. According to the text, some of Donald Trump staunch's allies in Congress wanted him to declare martial law to prevent Joe Biden from becoming president.

In the NBA Playoffs, the Celtics eliminated the Nets. Boston beat Brooklyn won sixte t to sweep the series in four games. In MLB, the mattson Giants one the Red Sox lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than seven hundred journalists and analysts more than a hundred twenty countries. I'm Michael Barr. This is Bloomberg, Nathan, Michael. Thank you. It's five nineteen on Wall Street Live from the Bloomberg

Interactive Brokers Studios. This is Bloomberg Daybreak, and it is the talk of Wall Street this morning. Not to mention social media, Elon Musk is buying Twitter in a forty four billion dollar leveraged buyout that even the testless CEO himself said he wasn't sure would be able to happen just a few days ago. Dan Ives is back with us this morning, Managing director and senior equity analyst at Wedbush Securities. Dan I think it was not even two weeks ago we were talking about the fifty best and

final offer from Elon Musk. It is just incredible how quickly the Tesla CEO was able to pull this deal off. Look, ultimately, I mean this was really Board's backward against the wall. I mean they did the poison pill. They were waiting for a white night, a second bidder, but they were at the altar and no one ever came. And once Musk detailed his financing. Wait last week, the board ultimately the clock struck midnight. They had to ultimately sit down and do a deal with Musk, and that's why today

was sitting with the Must Morning Twitter. Do you think the deal sticks? I mean, we've got the financing from Morgan Stanley, but Elon Musk has got to come up with twenty one billion dollars of his own money to make this happen. Right, Yeah, he's betten about percent of his network pleasure. We have tim percent of his Tesla shares. The equity financing is all there, you know, so they're

from a financing perspective, it's really all set regulatory. I mean, they'll definitely be some tuition turned ahead, but I ultimately expected to get done into is of a deal. And in terms of Twitter shareholders, I mean they were drinking some champagne or some good wine last night. Because this ultimately ends up in a Goldilock scenario if it's not from Must the stockspot about thirty hours. I gotta ask, though, do you think Twitter is worth billion dollars? No way?

I mean it just comes down I mean that I mean not again. It goes back to that's why they couldn't get a second bitter, because the price is so lofty relative to the core fundamental social media headwinds that they're seeing. Me look at Facebook just is another example. That's ultimately why I must pay the price, and no one else was gonna match, so so it continues to be a head scratch. And that's why, you know, when you look at he's essentially trading Tesla shares for Twitter shares,

and I would compare it. I mean he's basically trading No Boo Sush shoot, you know Sush sheets for you know New York City hot dog. Yeah, I've heard that to quote before. Yes, it gets to the motivations right about what Elon Musk is thinking about buying out Twitter. Does he want it to make money? Is it all about what he said making it the free speech platform? And does that raise the question of whether he even needs it to make money in that scenario? Well, that's

the unusual thing here. It's a guilded age type situation where he's not really doing it from a monization respect. Music goes back to to be able to monetize forty four billions for Twitter, I mean that's going to take that's an average I got pill battle. So the freme

of speech thing, obviously it's front and center. But again that's that's the divisive piece, which is a taiwire act with Twitter, you know, needs to make sure moves to a subscription model and then we give out freeing the speech, Like does it start to go down a bad path because then others will leave the platform. So that's why right now, I mean, this is a platform has been on the reform for the last decade, Doors and others

couldn't turn around. Musk has obviously had massive success with other platforms Twitter, that's a whole another animal on versus technology platforms like Kpal, Pesla, SpaceX. Now, obviously Elon Musk has thrown out a lot of potential changes he would make now that he is taking a private What's the one serious change that you think Elon Musk could make that he is seriously thinking of making as he takes Tessil private. The biggest one, I mean, similar almost to LinkedIn.

I mean, they're going to have a legit premium, fere paid per month subscription platform, and I think that's that's the biggest thing that investors have always talked about that's what I believe they'll implement, really focus more on subscription revenue versus advertising. It goes back to like that's a business model change. They'll lose a lot of subs, but that's really what they need to do here to transform

the platform. You know, especially if you look relative to Facebook, Instagram, TikTok and others each on the outside looking into social media. In thirty seconds left here, Dan, do you think CEO paragog raal Wall stays Ceo. I think he's going to focus on his golf game, getting it down to the scratch. I do not seem at Twitter, all right, Dan, Always great getting your thoughts, always blunt spoken. Really appreciate having God with us this morning, Dan Ives, Managing Director, senior

equity analyst at Wedbush Securities. Again it is the story of the morning, Elon Musk buying out Twitter and a deal value forty four billion dollars, biggest leverage buyout ever. Our team coverage continues as we check top stories in the morning here on Bloomberg Daybreak, as we await big tech earning. So can stick around as we check those top stories uh this morning. Right now, Twitter shares are up six tenths of one percent in the pre market.

SMP futures down ten points, STAY futures down a hundred five, AZDAC futures down thirty. This is Bloomberg, Bloomberg eleven three oh weather, mostly cloud. He'd say chance for showers of the high near sixty five degrees, upper fifties Tomorrow, mostly sunny. It will be mostly sunny, breezy Thursday, with a higher fifty five right now fifty two degrees Croadcasting live from

the Bloomberg Interactive Brokery studio in New York. Bloomberg Eleving Freo to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg sixty to the country, Sirius XM chto one nine team and around the globe the Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning. I'm Nathan Hager and I'm Karen Moscow. We're just about

four hours away from the open of US trading. Let's get you have to date on the news you need to know at this hour. We begin with Twitter Elon Musk has clenched a forty four billion dollar deal to take the social media giant private, and San Francisco Bloomberg's ad Ludlow has more on what's next for shareholders. Each investor will receive fifty four dollars and twenty cents for each share that they hold. The deal has the unanimous backing of Twitter's board, and the transaction is expected to

close by the end of this year. The deal also includes a provision where Elon Musque, according to sources, would have to pay Twitter a fee if he was to walk away from the deal, and Bloomberg's had Ludlow says Twitter cannot solicit other offers while the transaction is pending. So where will Elon Musk get the cash to buy Twitter? Bloomberg's Rnita Young joins us Live in New York with the latest. Don that Good morning, Rnita, Good morning Nathan.

It's the twenty one billion dollar mystery. There's little doubt Elon Musk can come up with the money. After all, the Bloomberg Billionaires Index shows he's the world's richest person with a fortune of two hundred fifty seven billion dollars, But Bloomberg estimates show Musk has just about three billion in cash and somewhat liquid assets, so that leaves him with about three options for financing. One way, Musk could find other investors who buy into his vision, and he's

already hinted at this possibility. Another way, he could sell some of his stakes in Tesla, but that will likely put the stock price at risk, and since Musk is likely even richer than calculated by the Bloomberg Billionaires Index, he might not even need new sources of funding to cover the twenty one billion dollars. Live in New York.

I'm Ranita Young Bloomberg daybreak. All right, Granita, thank you, I'll Senator Elizabeth Warren was critical of the deal in a tweet, calling it dangerous for democracy overseas, Karen, Russian farm Minister Sir gay Lavrov is suggesting talks with the U S could help end the war in Ukraine, but he is warning of serious risk of a nuclear conflict. Meantime, Secretary of Defense Lloyd Austin is pledging the US will continue supporting Ukraine. We have much more to do Ukraine.

These are helped to win today and they will still need our help when the war is over. Defense Secretary Lloyd Austin and spoke today. After visiting key of over the weekend, Well, Nathan returned to the Fed now and share J. Powell will hold that in person press conference at the conclusion of next week's two day policy meeting. His last in person presser came in March. And it's another big day of earnings with Alphabet and Microsoft releasing

results after the bell. Industry giants General Electric, Capital One and Visa also report today. S and P Future is down about ten points this morning. Down Future is down eighty nine and as day, Futures down twenty four. Straight ahead your latest local headlines plus the check of sports. And this is bloomberge on Wall Street fifty two degrees in Central Park and it's a debris bill on the eastbound b Quee Atlantic Avenue in Brooklyn. Got a steer

around that. Michael barrs here with what else is going on in New York and around the world. Michael, thank you very much. Nathan. Former President Donald Trump was held into contempt of court and order to pay a fine of ten thousand dollars per day. The New York judge made the ruling against Trump for failing to adequately respond to a subpoena from New York's Attorney General. Trump's attorneys said they will appeal this contempt holding, in part because

they say the subpoena documents simply don't exist. A federal judge is now granted the temporary restraining order preventing the Biden administration from lifting Title of forty two. That's the Trump era public health order which allowed Board of Patrol to turn away illegal migrants to prevent the spread of

COVID nineteen. Bloomberg political contributor Genie Sheheen Zano, I think one of the things that's gotten the Biden administration tripped up here, quite frankly, is they keep its saying this is a matter of public health, not politics. It is a matter of public health, but it's also politics. And what's tripping them up is you can't divorce the two. Bloomberg's Genie seen Zeno spoke with Our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the program weekdays at

five pm Eastern on Bloomberg Radio. Florida Governor Around the Santis has signed a bill setting up an election police force. You compare us to some of these other states. We did a better job, but there's a lot that needs to be addressed, and so we weren't going to just sit there and say, oh, yeah, we've got everything figured out, because there was more to do. In the state of Florida, Democrats in the state accused the Santists and Republicans of

creating public distrust in the integrity of elections. The Texas Court of Criminal Appeals issued a stay of execution for Melissa Luccio. The fifty two year old mother of fourteen was convicted in the death of a two year old child. However, defense lawyers and supporters say there is new evidence that supports the theory the child fractured its skull accidentally falling down steep stairs. Melissa Luccio's son talked to his mother

on the phone, holding it to the microphone. I just want to say thank you to everybody who has supported her, supporters say. Luccio's confession was coerced Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven journalists and analysts more than twenty countries. Michael Barr, this is Bloomberg. Nathan thank you, Michael Street. Time for the Bloomberg Sports Update with John. Thanks they did. The next season began with them as

championship contenders. They had three superstars, but James Harden got traded, Kevin Durant got hurt, and the unvaccinated Kyrie Irving for most of the season either didn't play at all or then just down the road. So a bizarre that season, and it ended in Brooklyn the one six twelve win by the Celtics, who finished off a surprising first round sweep. They won all four games by single digits. Jason Tatum outplayed Durandoll, though Kad did come alive last night with

thirty nine points, seven rebounds, nine assists. Didn't help the Nets that Nick Claxton was one for eleven from the free throw line four for twenty two in the series. Was it Kyrie's last game as a net? Sounds like it wasn't disused if using that as fuel for the summer and come into the season starting from October um and and just getting a good start as a team. And I hope we willn't run into any barriers um

and we could just start bredon. Irving is expected to decline a thirty seven million dollar option become a free agent, says he wants to be back. A few years ago, he said he wanted to stay in Boston, and he left the Celtics. The only team so far in advanced Philadelphia was up three nothing. It's now three too has Toronto one game five in Philly, Dallas with an easy win and up three two on Utah. What to win

for the Mets. A scoreless game in St. Louis as Max Scherzer was terrific, but the Cardinals scored twice bottom the Eighthenny and the Mets then scored five and the ninth capped by a Brandon Nemo two on Ormer. The Mets beat the Cards five to two. Yankees home tonight for Baltimore and the Rangers home tonight for a big game with first place Carolina. John Stashoward Bloomberg Sports Nathan

Thanks John. It's thirty seven on Wall Street time for the Tri State Business Report with Bloomberg said Corey New York City's urging Amazon shareholders to vote against the re election of two of the online retailer's board members responsible for human capital management. The city and others say they opposed the reelection of Dan Hutton Locker and Judith McGrath, saying they've failed to provide adequate independent oversight over workforce issues.

Union mental health workers employed by Sound Community Services went on strike Sunday. They won better conditions and a mental healthcare nonprofit in New London, Connecticut. The union says state leaders of outsourced public mental health work to nonprofits in order to cut costs. Cattalent has agreed to buy Irritech self therapy manufacturing facility in Princeton for forty four point

five million dollars. Irrotech has a Phase one trial and first line pancreatic cancer on going in the US, and is talking with the FDA about other developments that your Bloomberg Try State Business Report. My Ed Corey. Thanks that it's thirty eight on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. Let's check in with our global news team for some of the top stories heard on our three

hundred affiliate radio stations around the world. I'm Steve Podas Scan on ten ten Wins in the Ark. We're talking about the rising cost of breakfast. I'm Courtney Donaho on kat h in Houston. Hospitals are struggling to absorb rising costs for labor, drugs and supplies. I'm callin Head called Bloomberg, DAB Digital Radio, and de Wiport on Heathrow. The Apple says it sees a winter phreeze after a busy summer of travel. Passenger numbers are getting better, but it's still

about sixty five percent below pre pandemic levels. And we SA Mateo and I'm w Beezy in Boston. I'll be reporting on what lines ahead for Twitter after Elon Musk's purchased at the company. Timed Cory on w w J in Detroit. I'm reporting General motors, rewards earnings after the close, and those are some of the stories. Are twenty hundred Bloomberg journalists and analysts are working on this morning around the world. It's five thirty nine on Wall Street. The

following is an editorial from Bloomberg Opinion. After decades of neutrality, Finland may decide as early as next month to apply for NATO membership, neighboring Sweden. Cartoon falling for both countries. The if it's are clear, full membership would bring them under NATO's Collective Defense umbrella, guaranteeing that the alliance would use force in the event of a Russian attack. NATO

would also benefit from a Nordic expansion. Finland has an advanced air force and intelligence services, and some nine hundred thousand Fins have received military training. Meanwhile, Sweden's air defense and submarine prowess would be useful in encountering hostile Russian

activity in the Baltic and Arctic seas. Expanding NATO is not without potential hazards, and the risks involved must be confronted openly, but the costs of backing down in the face of Russia's threat and aggression are likely to be far greater. In the end, the bigger NATO would be a stronger one. This editorial was written by the Bloomberg Opinion editorial Board. I'm David Shipley. For more Bloomberg opinion, please go to Bloomberg dot com, slash opinion or opia

and go on the Bloomberg terminal. This has been Bloomberg Opinion. You can hear Bloomberg opinion editorials every weekday at this time. Minal customers can read more at O P I N GO SMP futures right now down eight points. STOUT futures down eighty six. DAN Stack futures are lower by twenty three points. The tenure treasury is up eight thirty seconds.

The yield two point seven eight per cent. You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather mostly cloudy today, a chance for showers of behind your sixty five upper fifties tomorrow under mostly sunny sky. It will be mostly sunny, breezy Thursday with the hind your fifty five right now fifty two degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business at Land at Bloomberg trick Tape. He's a Bloomberg business

Flash and I'm famer in Moscow. U s Dock Indix futures are lower this morning ahead of a slew of earning. Stocks in Europe are higher as China's play to boost monetary policy support where it's covid a economy lifts sentiment. We checked the markets every fifteen minutes throughout the trading day on Bloomberg. S and P future is down about eleven points down. Futures down ninety eight. Nasdack futures down thirty two, and the decks in Germany's at one point

two percent. Ten year treasury up nine thirty seconds yield two points seven eight percent, a yield on the two year two point five nine percent. Ni Max Screwed oil is down eight tenths percent or eighty two cents at ninety seven dollars seventy two cents of barrel comics gold is a half percent or eight dollars ninety cents at nineteen o four ninety announce. The euro one point six nine two against the dollar, British bound one point two seven to one, the yen at one seven point eight zero,

and bitcoy this morning is of half percent. It's at forty thousand, three hundred ninety dollars. That's a bloomberg business flash down. Here's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much. Antonio Guterres, head of the United Nations, is in Moscow to try to discuss a possible ceasefire with the Russian president. A lot of merry putin. Meanwhile, Ukraine says five train stations were hit by Russian air strikes in the space

of an hour. Yesterday, following a three day search, the body of a missing Texas Army National Guard soldier from Arlington was found in the Rio Grand River near Eagle Pass. That's where twenty two year old specialist Bishop Evans was last seen trying to help two migrants who appeared to be drowning. In the NBA Playoffs, the Celtics eliminated the Nets. Boston beat Brooklyn one twelve to sweep the series in four games. In MLB, the Mets and Giants one, the

Red Sox 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. Michael bar this is Bloomberg. Nathan all right, Michael, Thanks, It's five forty nine on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. We want to turn out to what's happening the nation's capital, and for that we're joined by Joe Matthew, host of Sound

On Here on Bloomberg Radio. Are Why Shington, correspondent in our Bloomberg Studios in the nation's Capitol this morning. Joe, I guess we had to start with Elon Musk buying out Twitter, because obviously it's the talk of Wall Street and now on Capitol Hill, because we've heard from a number of members of Congress already weighing in. Not surprisingly, Yeah, this is, you know, one of these stories that gets

talk started. It's it's not a direct line necessarily to to reform, but it might be a catalyst for lawmakers to start getting to some of the issues that they've been complaining about for months and months, a couple of years, actually, Nathan, with Republicans, you know, kind of feeling like they've been censored by social media. Democrats worried about more of an antitrust angle here, and concerned about the power and scope

of these companies. The latest we heard was Elizabeth Warren actually spoke with reporters just last night and said that this deal demonstrates the need for serious regulation for big tech and that is not a new refrain from Elizabeth Warren. We heard from the White House last evening, is all Nathan. Really interesting statement that came from Jen Psaki. This was during the briefing not a written statement, but clearly one

that was rehearsed. It refers to President Biden's long concern that tech platforms, this is a direct quote must be held accountable for the harms they cause, making reference to reforming section to thirty, which you know protects these companies from liabilities, making reference to antitrust reforms. It does feel like, Nathan,

we're on the verge of something here. Well, is this just rhetorical, Joe, or could this actually be a catalyst for action against big tech, even further action than what we've seen already. It very much could be a catalyst. You have to remember that we have legislation on the table. In fact, last year a series of antitrust bills came from the Democratic side of the House that have yet

to be enacted. And you know that Republicans have been screaming about the influence of big tech, not just in terms of censorship, but look at some of the testimony we've heard from lawmakers like Senator Marshall Blackburn of Tennessee singling out Facebook and others like Instagram for the the emotional damage that she says they have caused young people and young women specifically. You put all of this together, it's a pretty hostile environment for social media here in

the Capital. Well, if given that potential hostile environment, show I mean, is there anything that the Congress can do legislatively or regulatorily to keep this deal from going forward? I mean, is that something that's on the table actually trying to block Elon Musk from buying Twitter. Nobody seems to be talking about that. Look, regulators will have their say. I'm not sure lawmakers can get their act together to block a deal on this level, but look for action

on Section two thirty. If this is something that Democrats and Republicans agree on, one of these few bipartisan UH deals here in Washington, d C. That's more likely than seeing, for instance, you know, Facebook or Twitter broken up or shut down or or kept from growing. These are kind of two different ideas. But remember they than Republicans and Democrats want to get to these companies for different reasons.

So while while they all want to come after Twitter and Facebook, they have different angles on the different motivations and that could complicate the path to anything actually happening. And the time we have left jar I want to get to the latest on Ukraine because You've seen a pretty significant ramp up at least in the rhetoric coming from President Biden's cabinet secretaries after they met yesterday with the President of Ukraine Zelinsky in Kievan. Now we're getting

a pretty strong response from Russia. Well, I should say so. Another reference to to possibly using nuclear weapons from Russia's Foreign Minister Sergei laugh Roff. That visit from the Secretaries of State and Defense clearly got Russia's attention. And this is you know, we hear refrains like this frequently when

Russia feels like it's on its heels. I'll mention as well that the Secretary of Defense, Lloyd Austin, is hosting a big gathering today more than forty countries military leaders from dozens of countries that Ramstein Air Base in Germany.

The Chairman of the Joint Chiefs will be there as well as they figure out the way forward and try to arrive at a number for exactly what Ukraine needs for military hardware that will be put into a supplemental budget request that could come by the end of this week from the White House, not just military but also humanitarian assistants Nathan. They say it will be in the billions. Yeah, so, lots to watch overseas and on Capitol Hill as the

President puts that next aid request to Ukraine together. Joe Matthew, host of Sound on Bloomberg Washington Correspondent. You can catch more from Joe this afternoon five pm. Wall Street time on Bloomberg. Sound on right here on Bloomberg Radio. Karen, All right, Nathan, thank you, and it's five fifty three on Wall Street Time for the Bloomberg The Law Report

brought to you by American Arbitration Association. Business disputes are inevitable, resolve faster with the American Arbitration Association, the global leader in alternative dispute resolution for over ninety years. More at a dr dot org. Now, let's get to a legal story following this morning. Georgia Congresswoman Marjorie Taylor Green is set to appear on the Republican ballot for the state's May primary, but its challenge may affect her eligibility to

run for reelection. A group of Georgia voters argue that Green health facilitate the January sixth insurrection, and that makes her ineligible for re election under a rarely sighted section of the Fourteenth Amendment dealing with insurrection or rebellion. An administrative law judge who presided over a hearing last week will present his findings to Republicans Secretary of State Brad Rafensberger, who will then make the ultimate determination about whether Green

is eligible to run for more Bloomberg's doing. Grosso speaks to Richard Brifau, a professor at Columbia Law School. Rich

tell us about this unusual use of the Fourteenth Amendment. So, there's a position in the Constitution, in the fourteenth Amendment, which was adopted by Congress and ratified by the people right after the Civil War, that was designed to deny who had taken the oath of office of the United States the senators or congressman, and then who had joined up with the South and the Civil War and basically

went into rebellion. In the language the Constitution uses, anybody who actually swore a north of allegiance the United States as a member of Congress and then engaged in insurrection or rebellion against the United States would be denied the ability to serve in Congress again unless Congress by two thirds votes that that they could. I mean, there's a little bit more to it than that, but that's the

essence of it. If you took an oath of office the member of Congress, but then you engaged in insurrection or rebellion, you are not eligible to serve again in Congress.

And the argument that's been raised perspector a number of members of Congress who like Marjorie day La Green and brought by by voters in their districts, is that she and Madison Corthon from North Carolina and a couple of congressmen from Arizona were connected to the attack on Congress January six, in connection with the electoral College, that they were either involved in the planning of or they knew about it, or in some ware form gave aid and

comforted the insurrection. So that's the argument, is that because she gave an aid and comfort to the insurrection of January six, she is not eligible to be placed on the ballot. The defense attorney objected to a lot of the questions of Marjorie Tillagreen by saying it violated her right of free speech. So where does free speech and and insurrectionists talk begin. That's, of course, one of the

big underlying question here. Involving not just her, but many of the people who are involved in the events of January six, who argue that what they were doing with speech, obviously a lot of them went well beyond speech in her case. You know, we don't know enough about what she was doing behind the scenes as to whether or not she was actively supporting an attack on Congress or was, as she says, only supporting a protest of what she claimed she believes was a fraudulent vote. And it's just

very hard to know. But you know, that is one question as to how far, in terms of the kinds of statements and actions she took, did she get beyond permissible political opposition and enter into insurrection. And you can questions come up again with members of the Trump administration and maybe President Trump himself and answer. Chard Burfoe, a professor at Columbia Law Schools, begin to Bloomberg June Grasso. Catch more of that interview, plus analysis of the latest

legal news by subscribing to the Bloomberg Law Podcast. Are downloading this show at Bloomberg dot com slash podcast. Attorneys can find exceptional legal research and business development tools at Bloomberg law dot com and on the Bloomberg Terminal at b law Go SNP Future is lower down nine points down. Future is down eighty three and nazdeg Future is down about twenties six and still ahead. On Bloomberg Daybreak and check on the business headlines and all the news you

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