Bloomberg Daybreak: April 26, 2022 - Hour 2 (Radio)

The southern border remains closed for migrants after a judge kept titled forty two in place. On Michael barn More Ahead, I'm John stand Sports. The next season is over, swept by the Celtics and ninthin rally for the Mets to

win in St. Louis. That's all s traded ahead on Bloomberg Daybreak on Bloomberg eleven three, on New York, Bloomberg nineteen nine one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, and Francisco Sirius x M one nine team, and around the world on Bloomberg Radio dot Com and via the Bloomberg Business App. Good morning, I'm Nathan Hagar and I'm Karen Moscow and US DOT Index futures are

lower this morning. We are coming up to six o one on Wall Street, and we checked the markets every fifteen minutes throughout the trading day. On Bloomberg, SNP Future is down ten points this morning. Down Future is down eighty eight. NAST day futures down thirty three ten. Your Treasury up eight thirty seconds, held two points seven eight percent in the yield and the two year two point five nine percent, and I'm ex screwed Oil is down

three quarters of a 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 forward. It's four main things and 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 lying technology for Twitter, and then finally he's going to look at the issues of vans. Elon Musk basically framed it as being he was more in favor of time outs than all out bands on the platform, Bloomberg said. Ludlow says the deal

was approved unanimously by Twitter's board. It's expected to be completed later this year. So where will Elon Musk get the cash to buy Twitter? Bloomberg's Renida Young continues our team courbadge and joins us live in New York with that part of the story. Good Morning Ray to Good morning Karen. 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 past ability. Another, he could sell some of his steak in Tesla, but that will

likely put the stock price at risk. And Thirdly, 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 gonna need a Young Bloomberg daybreak. We need a thanks now. Some lawmakers are pushing back against the buyout. Senator Elizabeth Warren is calling Musk's Twitter deal dangerous At Baxter continues our team coverage from our Bloomberg

nine sixty news room in San Francisco. Musk and Warren are familiar foes. They've had battles over a number of issues, but Warren's verbiage here 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 Gay break all right, and thanks so I have more analysis on the Musk Tritter deal in a few minutes, and we speak with Bloomberg Quick takes Alex Webb. Well. Now to the latest on the war in Ukraine. Nathan. Russian Foreign Minister Sergei Lavrov warns the risk of nuclear

war is real and cannot 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, and Defense Secretary and skill will go down in military history. And Defense Secretary

Lloyd Austin spoke this morning from Ramstein Air Base in Germany. Meantime, the White House says President Biden also working on his next request for Ukraine eight to Congress. Theah Whinehouse is also taking action on COVID care, and the Biden administration plans to allow all pharmacies towarder Finser's COVID nineteen therapy pill as it looks to boost access to the drug, is supplying races. Starting this week, Tens of thousands of pharmacies will be able to order the drug since it

started a pandemic. Nathan, Global events and meetings have gone virtual, but now FED chair J Powell is set to hold this first in person press conference since Covid emerged. Help me live with reporters following the conclusion and next week's two day policy meeting well. Inflation will be a main focus for how 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 and ten US small businesses planned to raise prices by at least ten percent. On Wall Street Today, Nathan, we get a clearer picture of how big business is faring. Earnings role in this afternoon for a Microsoft and Google,

we get a preview from Bloomberg's John Tucker. Google parent Alphabet has been held by a rebound and digital advertising, but the shares of Light and the stock will also face some more difficult year over year growth comparison. Analysts estimate earnings per share of dollars seventy three cents, down two percent from a year earlier. At Microsoft, analysts are expending earning for sure 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, thank you and crossing the Bloomberg ups is first quarter cross profit beating analysts estimates, and PepsiCo's organic revenue forecast for the year also beat. Nathan. It's also a big day for earnings in Europe, Karen. We get the very latest on that with Bloomberg's You and Parts in London. 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 Santane also beating estimates, with the retail banking giants geographical reach providing a buffer against growing economic risks, and a just BC posting a smaller drop in adjusted pretax

profit than analysts predicted. Europe's biggest bank reporting lower than expected credit loss provisions in London, Immune Parts, Bomberg daybreak, All right you and thank you right now. I some futures are down nine points down, futures down eighty NASTAC futures are lower by thirty one points. The tenure treasury is up eight thirty seconds, yield two point seven percent. Yield on the two year two point six zero percent. Nimex crew down a half percent at ninety eight dollars

nine cents of barrel. Local headlines in sports. Next, this is Bloomberg. Sounds six oh seven on Wall Street. We're fifty two degrees in Central Park. We have an accident on the eastbound Cross Bronx Expressway at the Deagan. 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 judges found former President Donald Trump in contempt of court for failing to adequately respond to a subpoena issued by the state's attorney general asked 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 had asked the court to hold Trump in contempt after he missed a March thirty, first quarter

imposed deadline to turn over documents. Trump has called her investigation of politically motivated which hunt. A federal judge in Louisiana has temporarily blocked the Biden administration from lifting the border restrictions put in place during the coronavirus pandemic. Title forty two was supposed to be lifted on May. The temporary restraining order was requested by its twenty one Republican

led states. Bloomberg political 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 political contributor Rick Davis spoke with Abur Washington corresponded 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 Staten Island again voting Monday on whether 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 many seconds. Two days before a mother of fourteen children was scheduled to die in a Texas death chamber, Melissa Luccio, received a 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 to keep our faith up with him in a keep on fighting this fight. Will we bring her home. She's no longer going to be executed. My mother will be free soon, John Luccio says. A court to rule on the new evidence. 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.

H Michael Barr, This is Berg, Nathan Thanks Michael almost six cent on Wall Street time for the Bloomberg Sports that Day with John stanho Al Nathan. This NBA season began with high hopes for the New York teams. The Knicks were expected to release make the playoffs and Nets were expected to compete for the championship. Neither thing happened. The Celtics completed the first round sweet for the Nets, taking Game four in Brookelyn one sixteen to one twelve

Jason Tatums twenty nine points. Boston survived Tatum fouling out on the fourth quarter. Kevin Durant so quiet the first three games of the series, 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 in Brooklyn. Tier Herby may not be. Who knows about Ben Simmons. He was acquired for James

Harden and never did play this season. Toronto stayed alive at Game five win in Philadelphia, whose lead is now three to Dallas beat Utah by five to go up three too. In memphisis John Morant named the nbass comproved play the Mets in St. Louis, Max Shers are terrific. Seven ames, no runs, two hits, ten strikeouts. We got no run support, and the Cardinals broke up a scoreless game with two runs in the eighth inning. The Mets then rallied in the ninth. Diego's ready as pitch, So

we're gonna ground ball toward first. Cold Schmidt a diving stop. Nobody's covering first? What the Diego? Smith? This safe? Big deal? Run? Third throw home d safe. The Mets have the lead. Dominic Smith comes through off the bench with two outs in the top of the dive. CBS had a Brandon demo following the two run over, and the Mets improved a thirteen and five. They beat the Cardinals five to two.

Yankeesh's ball the more tonight at the Rangers have any hopes of winning the division, they'll need to beat Carolina tonight at the Garden. John Stash with Bloomberg Sports. All right, John, thanks and just In. Elon Musk has filed an amended thirteen D with the Securities and Exchange Commission on Twitter, saying he's entered into a new debt commitment letter as of April and amended the equity commitment letter to reflect

the merger. Pack much more on Elon Musk's By out of Twitter, we'll be speaking with Alex Webb of Bloomberg Quicktake. This is Bloomberg Bloomberg eleven three oh weather mostly cloudy today, chancefer showers with behind your sixty five degrees that will be mostly sunny tomorrow, upper fifties high your fifty five Thursday, mostly sunny and breezy by then. Right now fifty two and cloudy in Central Park markets. Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the

Bloomberg Business at and at Bloomberg Quick Take. This is a Bloomberg Business lash and I'm Cameron Moscow and US stock index futures are lower ahead of a slew of earnings.

We already heard from PepsiCo this morning. At raised its sales growth estimates for the year as consumers return to bars, restaurants, and events due to easing pandemic restrictions, and UPS reported a first quarter profit that beat analysts estimates, but US stock index futures again are moving lower with US and Key Future is down fourteen points down, futures down a hundred fifteen NSDAG futures down forty eight. Ten year treasury up eight thirties seconds, YELD two point seven eight percent.

That yield on the two year to point six zero percent. NIMEX screwed oil is down about half percent or forty four cents, and ninety eight dollars ten cents of barrel comics. Gold is up half percent or ten dollars ten cents at nineteen o six ten. Announced the euro one point six eight zero against the dollar, British pound one point seven one one, the yen at one seven point eight one, and Bitcoin this morning higher by half percent at forty thousand,

three hundred eighty dollars. That's a bloomberg business flash. Now here's muchael bar with more unless going on around the world. Muckel Karen, thank you very much. Russian foreign ministers Sergei Lavrov warned Ukraine against provoking World War three. Lab Rof said on Russian TV that the threat of a nuclear conflict should not be underestimated. There's molting pressure on former Trump White House Chief of Staff Mark Meadows to turn

over additional information to Annuary sixth congressional investigators. More than two thousands of Meadows text first reported by CNN, have now been released. According to the text, some of Donald trump staunches 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 one sixteen, one twelve to sweep the series in four games. In MLB, the Mats and Giants won, the Red Sox lost.

Global news twenty four hours a day on air and on Bloomberg Quicktake Power by more than twenty seven hundred journalist and analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan alright, Michael, thank you. At six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and our team coverage of Elon Musk's forty four billion dollar buyout of

Twitter continues. Now we're very pleased to be joined this morning by Alex Webb, Bloomberg Quick Take correspondent and tech columnists for Bloomberg Opinion. Alex, you have written ex stensively about the lead up to this buy out, the potential for Elon Musk to take Twitter private, and I guess one of the biggest among the many questions that still have to be answered is how is Elon Musk going to change Twitter. Here's a question that is befuddling a lot of us. He look, he's made a few comments

about the operations of the company. The key things he can go in one of two directions. You can go in both. There are financial changes he can make to improve profit and there are things that he can change that suit his own personal agenda. Namely, he talks a lot about trying to make it a platform for free

speech one. But he's also secured debt financing from a lot of reputable banks, and he made presentations, has been reported by our colleagues and Blue Veg News, he made presentations which convince them that he does have a financial model for the company. So then you have to look at that and go, well, is it about adding more users or is it about extracting more value from the users that you have. The second piece is the easier

leave at to pull. You've already got that audience, and so you've got to think about whether it's a subscription model or just extracting more advertising value from those users. We've seen another of the mega millionaire billionaires, Jeff Bezos uh sort of taking a swipe at Elon Musk on Twitter after this news came out. Kind of raised maybe

an ad left field question for me. I wonder if there's a parallel to be drawn here between Jeff Bezos buying out the Washington Post and Elon Musk buying out Twitter sort of a media play as sort of a free speech platform in that to that extent, So I think on one level there are parallels, namely that you

know a lot of billionaires by big media assets. We've got Time magazine, which is owned by Mark Bennioff, obviously Bezos of the Washington Post, the John Edwards zones at the Boston Globe, and Twitter is essentially the biggest available media platform media outlet. There's a substantial difference, though Bezos committed to not intervening editorially with The Washington Post and certainly, looking from the outside, it appears that he has held

true to that promise. Elon from the get go has made it very clear that he intends to intervene with the way that Twitter is run, and if it's all about free speech, with the politics of it. So there are similarities, but there is that crucial difference. Yeah, we've certainly seen that influence playing out on Elon Musk's Twitter

feed itself. And I wonder if we could sort of glean from the many tweets that Elon Musk has put out there, which ideas is he serious about, which ones is he just sort of putting out there just to get people talking. The split The free speech one is clearly top of the list. Quite what that entails, you know, the proof is in the pudding. Doesn't mean Donald Trump comes back onto the platform. It would certainly seem that way.

But there are again important caveats here. There are a whole raft of regulations in the works around the world. Just last week, the European Parliament agreed on a set of proposals to limit or or place important checks and measures over what can be posted on social media, damaging content, criminal content, online harms, similar stuff is in the works in the US and in the UK that will limit his ability to do to be a true free speech absolutist.

The operational stuff, he has not really talked about how to make it more profitable than it is right now. Now, clearly, if it's a private company, the impetus for growth is not going to be as high, but he will need to be repaying banks for the debt that he's raised.

That means that he needs to generate some cash flows, and there are ways you can do that by, for example, increasing the odd exposures of people you already have, or as I said, perhaps thinking about a subscription model where that is harder to generate growth, but it can give you more predictable cash flows, which is something that of

course debt holders like. And only about thirty seconds left here, Which do you think is the likeliest option for Elon Musk to try to make Twitter more profitable if that is his motivation? Well, in his support of Elon and Jack Dorsey, the former CEO of his perceived its rain, very close to him, said he didn't he'd always regretted the fact that it was an advertising base model, so that would seem suggests it's going to be something else

that might mean. Therefore, the subscriptions are the path that he picks. Very interesting as always, Alex. Great to have you on with us, Thanks for this. Alex Webb is tech calumnist for Bloomberg Opinion. You can catch him on Bloomberg Quick Take as well. He's a correspondent there, and we will continue our team coverage of Elon Musk's Twitter buy out as we await big tech earnings. Are five things you need to know to start your day. Just

ahead here on Bloomberg Daybreak. That's as we watch earnings from General Electric across the Bloomberg terminal. Profit beat estimates, but the outlook has come in shy of analysts estimates. Will be watching GE shares throughout the morning here on Bloomberg Daybreak, Bloomberg eleven three oh weather, mostly cloudy, chance for showers today with a hin your sixty five, upper fifties, mostly sunny Tomorrow, mostly sunny, breezy, mid fifties by Thursday.

Right now fifty two degrees in Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg e Living Freedom to Washington d c Bloomberg ninety one to Boston, Bloomberg what A six one to San Francisco Bloomberg Home sixty to the country, Sirius xm J A one nine and around the globe the Bloomberg business at and Bloomberg Radio dot com. This is Bloomberg Daybreak six

thirty on Wall Street. Good morning, I'm Nathan Hagar and I'm Kard 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. Interacted Brokers charges margin loan rates from zero point three percent to one point three percent, rates subject to change. Learn more at ib kr dot com.

Slash compare up First, Elon musk Is clinched a forty four billion dollar deal to take Twitter private and San Francisco Bloomberg's and 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 Mousque, according to sources, would have to pay Twitter a fee if he was to walk away from the deal, Bloomberg said. Ludlow says Twitter cannot solicit other offers while the transaction is pending. So where will Elon must get the cash to buy Twitter? Bloomberg's Uneda Young joins us live in New York with that good morning, Good morning, Nathan. It's the twenty one

billion dollar mystery. Now there's little doubt Elon Musk can come up with the money. After all, the bloom Billionaire's 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, Musk could find other investors who buy into his vision, and he's already hinted

at this possibility. Another, he could sell some of his steak in Tesla, but that will likely put the stock price at risk. And Third, 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 Rnita Young Bloomberg daybreak. All right, Nita, thank you all overseas.

Russian for a Minister Sergei Lavrov suggested talks of the U S could help and the war in Ukraine, but weren't a serious risk of a nuclear conflict. Meanwhile, Secretary of Defense Lloyd Austin pledge the US will continue support in 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. US Defense Secretary Lloyd Austin, speaking today after visiting Kiev over the weekend.

Turning to the FED, Karen shape Powell, the Chairman, will hold an in person press conference after next week's Today Policy meeting. At Powell's last in person presser was on March And it's another big day for earnings Alphabet and Microsoft, or at least results after the bell. We just heard from General Electric and first quarter profit beat analysts estimates. Capital One and Visa also report today. Futures this morning are lower. And that's the five things you need to

notice start your day. Brought to you by Interactive Brokers. This is Bloomberg, all right, Karen, Thanks, six Wall Street, fifty three degrees in Central Park, Forty five minute delays on the upper level, g w B. I'll tell you why. 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. Former President Donald Trump was held in contempt of court today and order to

pay a fine of ten thousand dollars per day. A New York judge made the ruling against Trump. We're 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 forty two. That's the Trump era public Health order, which allowed border patrol to return away illegal migrants to prevent the spread of COVID nineteen. Bloomberg's political contributor genie's Ano. 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. Genie Zeno spoke with Our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the program weekdays at five pm Eastern on Bloomberg Radio. Judges on New York's Court of Appeals are sent to here are mints in a lawsuit claiming democrats illegally gerrymander the boundaries of the state's new congressional districts to lower courts have already ruled that the district

maps were drafted specifically to give democrats an advantage. A mid level appeals court last week gave the legislature a deadline of people thirty to come up with revised maps. Florida Governor around the Santis, has signed a bille 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 are accusing Republicans of creating public distrust in the integrity of elections. The Taxas 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's new evidence that supports the theory that the child fractured its skull accident folding down steep stairs. List 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 had supported me. Supporters say Luccio's confession was coerst Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than journalists analysts more than a hundred twenty countries. Michael bar this is Bloomberg Naked. Thank you. Michael's just about six thirty six on Wall Street. John stash Hour has the Bloomberg

Sports upthing. Thanks Nathan. The Nets began the season as championship contenders they had three superstars, but James Harden got traded, Kevin Durant got hurt, the unvaccinated Kyrie irving for most of the season either didn't play at all or then just on the road. They got Ben Simmons for Harden, but he never played at all. So a bizarre Net season and it ended in Brooklyn a one six twelve win by the Celtics, who finished off a surprising first

round sweep. They won all four games by single digits as Tatum outplayed Durant. Although Kade didn't come alive last night with thirty nine points, seven rebounds, nine assists didn't help the Nets that Nick Claxton was one per eleven from the three throw line, fourth for twenty two in the series. Was it Kyrie's last game as a net

sounds like it wasn't. I'm just used 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 hopefully we won't run into any barriers um and we could just start fresh. I mean, he's expected to decline a thirty seven million dollar option become a free agent. He says he wants to be back, but two years ago he said he wanted to stay

in Boston. He left Celtics. The only team so far to advanced Philadelphia was up three nothing, that's now three two is Toronto one in Philly? Dallas an easy win, aw up three two on Utah. Want to win for the Mets. A pitcher's duel in St. Louis as Max Scherzer was terrific. Cardinals score twice, Fott of the eighth and the Mets scored five. And then I had cap, I have Brandon Nimbo to run omer and the Nets

beat the Cards five to two. Yankees home tonight for Baltimore and the Rangers home tonight for a big game of first place Carolina. John Sparre Show, Bloomberg Sports, Navid Okay, John, Thanks six thirty seven on Wall Street. Time to take a look at stock, some of the names moving in the pre market. Bloomberg Radio and TV Markets correspondent Creedy

Gupta is with us this morning. Not much to talk about, Creedy um debatable, tomatable, lot going on with Twitter, that sarcasm naming and I'm sorry the copy hasn't the copy hasn't. We'll let that kick in for you. Yeah, let's talk Twitter, shall we? Twitter? T w t R is your ticker up seven tenths of a percent. Now, remember a lot of this news came in yesterday's trading session, so there isn't necessarily a postmarket surprise that it's going to kind

of digest in the shares. Nevertheless, for those who aren't keeping up with Twitter, Tesla or excuse me, Tesla CEO Elon Musk has officially landed the deal to take Twitter

private for forty four billion dollars um. It looks like he does have to put up a little bit of his own financing twenty one billion dollars, I believe, so a lot of the focus today is going to be how he's actually gonna make that twenty one billion happened, given the rest of the money has been coming from Barkley's Make for America and u f G, among several other banks as well. I think the real kind of analysis you want to keep an eye on here is what other stocks in the market are going to be

moving off of this news. So, for example, Tesla is

going to be a big one. T s l A is your ticker, and this is important because the idea was that does Elon Musk have to leverage his Tesla position to then finance his Twitter bid uh And right now Tesla is actually up in the pre market, up zero point two percent t s l A once again, but that can very easily change the negative correlation, which basically means like the dynamic between the two in the last couple of weeks has been that when Tesla or when Twitter is up on this kind of Elon Musk news,

Tesla has actually been down in responds to the idea that he's going to have to leverage his Tessela shares to buy Twitter. So once again that's gonna be a big part of the conversation today. Keep an eye on both of them because they're both tech and they can

both move the market. D w a C, which is the Digital World Acquisition Corps essentially this back that's taking President Trump's media company Public up five point three percent after he told Fox News, I'm not moving back to Twitter even if they unsuspended my account, So good news there for his social media company. Also, keep an eye on Snapchat s n A p is your taker down one point two percent to a more story for pent s p I n s is your Taker down eight

tens of a percent. That's a monetization story. Think about your social media competitors for Twitter, Snapchat and Pinterest not doing so well this morning. All right, just quickly, let's look at some of the names that are moving on earnings this morning. Yeah, two big ones. PepsiCo is the one. P EPs your Taker up two tenths of a percent.

We're waiting for the earnings calls. We're gonna get a little bit more information there, but right now they raise their sales growth, basically saying consumers are returning to bars thanks to the easing of pandemic restrictions. The other one you want to keep an eye on is g E. G is also the name of the company, and the

ticker down just shrive three percent. This comes after they're seeing challenges and inflation, the rush of Ukraine War, renewable energy supply chain constraints, and launching three independent investment grade companies invest There's not like very important earning story there from g R Right Bloomberg Radio on TV markets correspondent Creedy Goopa always something to talk about in a pre

market looking ahead to the market open. SMP futures down fourteen points down, futures down a twenty two and NASTAC futures lower by fifty points. You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather, most of the cloudy, chance for showers today, mid sixties for highs. We'll get into the upper fifties, mostly sunny tomorrow and it will be mostly sunny, breezy with a high in your fifty five on Thursday. Right now fifty three degrees in Central Park. Markets.

Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktake, This is a Bloomberg business lash and I'm Karen Moscow. Futures are lower, earnings are crossing the Bloomberg. We go to the first word breaking news dash for the for today's morning call, and here's Bill Maloney. Bill, good morning, and good morning, Karen. US futures are in the red right now ATWN futures down a hundred points, SPS dropped

thirteen well Nasdick futures are off by forty two. The US ten year old at two point seven eight percent, Gold is up six, oil is down and bitcoin is higher by point six percent. Shanghai dropped one point one point four percent overnight, while up markets are in the green, led by one percent gains in France and Germany. Back in the US on the economic Fronday thirty durable goods orders and at ten o'clock new home sales and consumer confidence.

After the bellas night, Whirlpool cut its forecast and regarding some of the earnings this morning, GE said full year just the EPs will be at the low end of

the range. Three M sales miss destimates. Ups B and PEPSI raised its sales outlook, rapping things up Bike your hues raised to vibe over at hs b C Live from the first breaking news descom Bill Maloney, Karen right, Bill Maloney, thank you, and here live breaking news over your Bloombergy Times Squawk on your terminal squ a a UK and just looking at some of those stocks moving in the early trade with General Electric down three point two percent right now ups is up three and a

third percent, and that's a Bloomberg business flash. And now we see what's going on around the world. And here's Michael Barr, Michael Karen, thank you very much. Antonio Guta's head of the United Nations is in Moscow to try to discuss a possible ceasefire with the Russian President of Vladimir Putin. Meanwhile, Ukraine says five train stations were hit

by Russian air strikes in the space of an hour. Yesterday, Following a three days 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 it's 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 sixteen, one twelve to sweep the series

in four games. In MLB, the Mats and Giants won the Red Sox lost. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more of that hundred journalists and analysts more than a hundred, twenty countries. Michael barn this is Bloomberg, Karen Ry, Michael, thank you. Sixty nine. On Wall Street, we turned to news and science and technology Now with a Bloomberg and j I T. Stammerport brought to you Buy New Jersey Institute of Technology and j i T offers New Jersey's

first undergraduate degree in fintech tech driven finance Focus. To learn more at n j i T dot edu, slash fintech and now Here's what's making news and science, Technology, engineering, and math. Beijing has begun mass coronavirus testing of millions of its residents. It's part of an unprecedented scheme to squash omicrons spread before its spirals out of control. In the Chinese capital, nearly twenty million people undergo three grounds

of COVID testing through the weekend. Democratic Senator Joe Mansion is exploring an energy and climate packaging at Winning Republican support by partisan energy package could undercut the broader democratic agenda, but it could give President Biden an election year win on an issue voters care about. Mansion says. One area of common ground could be reform of the federal oil and gas leasing process and an investor led push for major oil companies to set climate goals in line with

the Paris Agreement. One support from a key proxy advisor for the first time institutional shareholder Services urged investors and Occidental Petroleum and refiner Valero Energy to back proposals to align the company's targets for cutting greenhouse gas emissions, including those of their customers, with the Paris Accord and as according to investor reports seen by Bloomberg. And that's a

Bloomberg n j I t Stem report. Nathan Okay, Karen, thanks rely from the Bloomberg Interactive Brokers studios where it's almost six fifty one on Wall Street time. Now to check with Square in d C. Some of the top stories in our nation's capital include Senator Elizabeth Warren calling Elon Musk's Twitter buy out dangerous, Defense Secretary Lloyd Austin hosting talks on boosting Ukraine's military, and President Biden issuing his first round of pardons as part of a new

criminal justice this initiative. Let's bring back Joe Matthew now Bloomberg Washington correspondent, host of Sound on Here on Bloomberg Radio. Obviously, the Elon Musk Twitter story is not going away, certainly not this morning, and it's making the rounds on Capitol Hill. Now, Joe, Yeah, that's for sure. We heard from a number of lawmakers on this. You know, you get a big story like this. Nathan and it gets people talking. It was in the air on Capitol Hill, it was in the air at

the White House. That came up in the White House briefing, Senator Elizabeth Warren had probably the strongest words, which might not come as a surprise. Not a big fan of Elon Musk buying Twitter, in fact, says that the deal here, assuming that it closes, and that that's a big assumption at the moment, demonstrates the need for serious regulation for big tech. Those are her words. She says, it's dangerous for one billionaire to decide how millions of people will

communicate with each other. And it sounds a lot like what we heard from the White House yesterday, not quite as full throated. But Jen Saki was asked about this the White House Press Secretary and is clearly prepared for the question, saying that the President has long argued that tech platforms must be held accountable for the harms they cause, not actually quantifying them, but the harms they cause, and has been a strong supporter of reforms, she said, including

reforming Section to thirty. That's gonna be an interesting prospect here for Republicans who have been calling for reforms to Section to thirty because they believe that conservative voices are are censored for lack of a better word, on sites like Twitter. Now that Democrats are talking about this, you wonder what form that could take. Yeah, And interestingly, when you think about section to thirty and potential reforms, anyone must talking about making Twitter more of a free speech platform.

There's been a lot of discussion about whether former President Donald Trump could be allowed back on Twitter. Has there been any talk on Capitol Hill about that? Joe, Well, you know, it's it's interesting. I was actually asking a few folks about this yesterday. And this follows a comment from Trump himself on Fox saying that he would not be coming back to Twitter. You know, he's got his own platform now called truth Social. Uh. But then again,

he's what do you say true? Do you truth? Untruth social? You don't tweet undrew he posted once? Is what I'm trying to say, as opposed to the twenty times a day that he used to be on Twitter. Anyone that I have asked any Republican is hopeful. In fact, well the number one doesn't believe it thinks that he will actually return to Twitter because he can't resist eighty million users but many of them are hoping that he does not.

That is where Donald Trump found a lot of trouble for himself, of course, leading to his final ban from Twitter not that long ago, which potentially Joe raises the calculations for the mid terms. What potentially could a return of former President Trump to Twitter mean for Republicans in the mid terms. Well, it's a way for him to deliver the message on endorsements. It's a way for him to knock his opponents. It's all so as I mentioned away, for him to step in a pile. Uh. Look, there's

still no edit button that I know. They're talking about that at Twitter. Uh, and I'm not sure the president would use But anyway, I mean the late night tweets. You have to go back in time. It's it's hard to even remember what that was like to be waking up every morning and running to Twitter to figure out what the future policy of the administration would be. People were fired on Twitter without hearing about it first and higher for that matter, without hearing about it. The way

it would impact the midterm elections. I think we've seen this movie before, and of course the president is that the former president has endorsed a number of candidates in races around the country. I suspect that he'd be on that Twitter fairly often if you were allowed back. All right, and the time we have left, Joe, let's talk a little bit about the latest on what's happening in Ukraine. We have Defense Stary Lloyd Austin in Germany leading this

major discussion about getting more military aid to Ukraine. It's an important discussion. We've got military leaders for more than forty countries, that's NATO and beyond all meeting at Ramstein Air Base in Germany. This is being hosted by the Secretary of Defense. The Chairman of the Joint Chiefs will be there, and this is to get real answers to not just how much money you need, but what do

we need to spend it on? What actual tools do we need to send you in This follows the most recent shipment of heavy artillery and preparation for the Battle of the Dune Boss. And while that conversation is happening, the UN Secretary General is in Moscow to meet with Vladimir Putin, which Ukraine is not terribly fond of. Ukraine's defenseman is to wrote an op ed on the Wall Street Journal accusing the U N of being an enabler

of Russian war crimes. Now, gu terrorist will move on to meet with President Zelenski on Thursday in Kiev and should be a fascinating conversation as we hear again from Russia's foreign minister, in this case Sergei Lavrov, you know, rolling out the possibility of of nuclear weapons being used, which says a lot about Russia's position and posture right now in Ukraine. Yeah, once again that rhetoric coming back.

And just to turn things back to domestic politics because just this hour, Joe President Biden announced a pretty significant round of partings and commutations. This is the first time he's done this, Yeah, his first. A lot of folks expected some in his first year. We didn't get any offering clemency today to seventies seven non violent drug offenders, along with a former Secret Service agent who we've been

reporting on Bloomberg. You can read about him on the Terminal, who claims he was singled out for prosecution after exposing racism in the agency. He was in fact convicted of selling a copy of an internal document. Abraham Bolden eighties six years old, the first African American to serve on a presidential detail. He has maintained his innocence all these years.

Nathan all Right, Bloomberg Washington correspondent Joe Matthew with us this morning, catch much more this afternoon Bloomberg Sound on every weekday afternoon at five pm Wall Street time here on Bloomberg Radio. Pretty significant guest for Joe this evening, be speaking with Republican Congressman darryl Isa, So you want to check in for that conversation later today, and you can read much more about all these stories we've been talking about on Bloomberg dot com or on the Bloomberg Terminal.

Listen to Bloomberg Radio in Washington, Bloomberg and one oh five point seven f M h D two. Right now, SMP futures are down thirteen points down, futures down a hundred six, Nasdaq futures down uh forty eight points. The tenure Treasury is up eight thirty seconds, the yield two point seven eight percent, yield on the two year two point five nine percent, and i'm x screwed up three

tenths percent at a barrel. This red headline just crossing the Bloomberg terminal Raytheon is cutting its sales outlook for the fiscal year on Russia, global sanctions. Much more to come on Bloomberg surveillance. That's next for Karen Moscow. I'm Nathan Hager. This is Bloomberg