Bloomberg Daybreak: August 16, 2022 - Hour 2 (Radio)

City airports. Plus former Trump attorney Rudy Giuliani is the target of a criminal pro on Michael barn More, I'm trying statshout at sports Rock Night for New York baseball. The Yankees were shut out again. The Mets lost in

Atlanta thirteen to one. That's all s. Trady ahead on Bloomberg day Break on Bloomberg eleven three on New York, Bloomberg one, Washington, d C. Bloomberg one oh six one, Boston, Bloomberg nine sixty, San Francisco, Syrius Exam one nineteen and around the world down Bloomberg Radio dot Com and via the Bloomberg Business app. Good morning, I'm John Tucker and I'm Karen Moscow and US dock index futures are lower

this morning. We're coming up to six oh one on Wall Street, and we check the markets every fifteen minutes throughout the trading day. On bloomberg S and P Future is down about eight points down. Future is down thirty four and NASDACK futures down twenty eight. The decks in Germany is up six tenths of a percent. Penn your treasury down three thirty seconds. You have two point eight zero percent. They yield on the two year three point

two zero percent. Night Max Screwed oil is down about half percent, or forty seven cents at eighty eight dollars cents a barrel call. Make School down four ten percent or seven dollars twenty cents at seventeen ninety ninety announced and Bitcoin and this morning is that will change at twenty four thousand, eighty dollars. John and Karen, we begin today's session with US docks at a three month high. The s game for four straight weeks. It's the longest

winning streak this year. Hex Smith is two investment officer at Haverford Trust. Now I think it's anticipating that we are beyond peak inflation um and that a lot of factors, including the federal reserves policy, is starting to unwind inflation and and perhaps perhaps the said might get lucky and

engineer is somewhat soft landing for a trust. Hank Smith says the next batch of retail earnings could be key for the markets, and John, we start to hear from some of those retailers today right now this morning, home Depot reporting second quarter comparable sales that beat analysts estimates. Those earnings are just crossing the Bloomberg Walmart reports in less than an hour from now, and we get a

preview from Bloomberg's Jeff Bellinger. The giant retailer issued a business update less than a month ago in which it lowered its profit outlook, so Bloomberg Intelligence says today's really should hold few surprises. Inflation has been a significant headwind for Walmart, causing customer mers to spend more on food and less on discretionary items. The I says a sales event in June may have helped to reduce some inventory, but Walmart will likely need further markdowns to move over

stocks of clothing. Jeff Bullinger bloom Bird day Break. All right, thanks Jeff on Wall Street. We're learning what some of the world's biggest money managers are doing with their stock portfolios. Let's get the latest live from Bloomberg's Nita Young. Good morning Nita, Good morning John. During the latest quarter, Stanley Drucon Miller's family office offloaded Big Tech, selling its entire one million dollar position in Amazon and scaling back as

steak in Microsoft. Sorel's fund Management boosted its steaks in Amazon Salesforce and Alphabet. Berkshire Hathaway eliminated a Verizon steak and boosted other bets, including Occidental Petroleum, increasing its investment there more than it did in any other firm. But Apple remains Berkshire's largest holding, and Michael Berry's Scion Asset Management exited all equity positions except one it added, private prison operator Geo Group, Scion's only stockholding as of the

end of June. Live in New York. I'm really need a Young. Bloomberg Daybreak, all really need to thank you Apple making news this morning. Bloomberg News has learned the company has laid off many of its contract based recruiters in the past week. It's part of a push to rain and the tank giants hiring and spending. And in another development, Apple has set a September fifth deadline for corporate employees to be in the office at least three

days a week. COVID spikes disrupted Apple's previous attempts to have workers back in the office. And let's turn to politics now, where it's primary day in Wyoming and Alaska Representative Liz Cheney bracing for a loss, while former vice presidential candidate Sarah Palin looks at stage of political comeback and Bloomberg's Amy Morris has more from oursroom. In Washington, Cheney is all but certain to lose to challenger Harriet Hageman, who has former President Trump support and leads by nearly

thirty percentage points in the polls. Like Cheney, supporters say she's already charting a rebound. In Alaska, former Governor Sarah Palin is trying for a comeback in the open race for the state's sole seat in Congress. Her critics say she's been more visible on right wing TV in the Lower forty eight than in her own home state, but she has Trump's endorsement. Also in Alaska, Senator Lisa Murkowski is in a re election fight against Trump supported candidate

Kelly Shabaka in Washington. I'm maybe Morris Bloomberg Daybreak right, Amy, thank you, but we also have news about Donald Trump's battle with a Justice to Herman. The d o J says it's against the release of an affidavit justifying a search warrant for documents that the former president's Florida home. The search warrant itself has been released, but the Justice

Department says the affidavit includes sensitive information about the investigation. St. John's University law professor John Barrett says it's a standard move by the d o J. It's the details of what surveillance information, what inform and information, what prior course and dealings led the government to believe that there were classified documents in mar Laga, m That's all highly confidential

and actively part of an investigation. St. John's University law professor John Barrett was a guest on Bloomberg's Sound on Catch the program weekdays at Philli PM Eastern on Bloomberg Radio and Geopolitics. Also in focus this morning, China says it's going to fight back against the latest congressional visit to Taiwan. Let's get more from Bloomberg's and Baxter. It says it will increase patrols both air and see to

provide a resolute response. In an exclusive interview with Bloomberg editor in chief John Mickelswaite, Singapore Deputy Prime Minister Lawrence Wang says China and the US mistakenly could sleepwalk into a conflict. We are starting to see a series of decisions being taken by both countries that will lead us into more and more dangerous territory. Wang says neither side wants open conflict, but it's very concerned a mistake could

happen in San Francisco. I'm at Baxter Bloomberg Gay break all right, and thank you for watching shares of Home Depot this morning up nine tenths of a percent and early trading after its earnings crossed the Bloomberg and reported second quarter comps, sales that beat analysts estimates, and straight to hand your latest local headlines plus the check of sports,

and this is Bloomberg. Thanks Karen six O seven on Wall Street tend to bring in Michael Barr to find out what else is going on in New York and around the world. Chah, thank you very much, sir. It is back to normal this morning. But yesterday travelers that New York City area airports were sold by the f a A to expect delays because of airline staffing shortages. Staffing at a facility that manages the airspace for all three major New York airports is said to be the problem.

The f a A leader tweeted that the problem had been solved, but not soon enough for these people. They were grounded. Maybe we'll start driving, Maybe that'll be better.

Maybe we'll see. With the industry struggling with pent up demand for travel and a system that's understaff, post COVID airports, blame the airlines, and the airlines blame the f a A. Prosecutors in Atlanta have told Rudy Giuliani's lawyers that he is a target of their criminal investigation in the possible illegal attempts by then President Donald Trump and others to interfere in the general election in Georgia. Giuliani says, you do this to a lawyer, we don't have America anymore.

Russia and Ukraine blame each other for the renewed shelling near a nuclear power plant in western Ukraine. State Department spokesperson Ned Price says the US is closely monitoring the activity at the plant. We believe that the fighting there is dangerous, it's irresponsible, and we do continue to urge into all military operations out of near Ukraine facilities in the return of full control of those facilities. Ukraine State

Department spokesperson Ned Price. Ukrainian President voladimir's Lensky renewed his call for fresh sanctions against Moscow. The efforts continue to bring w n B A star Britney Grinder and fellow American detainee Paul Wheeland back from Prussia. Grinder's attorneys have filed an appeal who was recently sentenced to nine years in prison in Russia. Bill Richardson, who has worked in hostage negotiations through his position at the Richardson Center for

Global Engagement, says he has talked to both sides. It basically says the legal process is over except for the appeal, and it's reasonable to have this appeal nine years sentence in a penal Connolly now there can be negotiations between the United States and Russia. Bill Richardson believes Grinder's legal team has been effective global news twenty four hours a day on air and on Bloomberg Quick Take power by more than journalists analysts more than a hundred, twenty countries.

Michael Barr, this is Bloomberg, John, Michael, thank you. It's not sixteen out of Wall Street. Best time for the Rubert Sports Up, johns Seth Show. All right, John's more than just a little slump down for the Yankees eleven and twenty one over their last thirty two games to and ten in their last twelve. Shout out four times, including Sunday night in Boston and again last night at

the Stadium Tampa Bay. Who's five pitchers and one four nothing, took advantage of an Aaron Hicks misplay and center field to score one run, then scored three more with two outs of the ninth inning. Things look bleak, and yet Aaron Boone. Ever, the optimists, sure there's some good things happening. Our starters continue to really throw the ball well. A number of guys out of the pen um, you know,

even though louse struggle tonight, are are throwing the ball. Well. Um, we just gotta get some guys on tracked offensively right now and and get guys that should be key contributors contributing like they're capable of. Hicks has been a real problem five for his last fifty three Yanks had one scoring is right. Last night, bases loaded fourth inning, Hicks hit into an inning ending double play. The Mets was

lopside and loss of the season thirteen to one. In Atlanta, the Braves at three home runs, the top two in their order, Ronald Kuna and Dance Preas wants and combined for six hits six rb I seventh trade win for Atlanta backed within four and a half of the mets eighty win of the year for the Dodgers, they won thirteen and fourteen. That's after learning the Walker Bueller, who was fourth in the Cy Young voting last years, having

season ending elbow surgery. Texas Rangers fired their manager, Chris Woodward. Rangers having a rough year after spending a lot in the off season. Tiger Woods will meet today without twenty members of the PG eight tour. I pepped off on how to make the tour better and fight off the challenge from the new Live Tour. Pete Carill has died at ninety two. The Hall of fame basketball coach at Princeton for twenty nine years. He won thirteen IVY League championships.

John Stashward, Bloomberg Sports. John, all right, thanks John, hand ahead of the cashow on Wall Street. We're looking at futures right now, even the red the down, futures down thirty two points, spe Mini futures eight point slower. And then I say futures right now they are down thirty three points. Not make screwed down forty two sons of barrel at eighty eight nine. You're listening to Bloomberg Daybreak and just ahead, well preview earnings from Walmart breakdown some

of the other retailers reporting today. We'll speak with John Edwards of Bloomberg News. You're listening to Daybreak, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. He's a Bloomberg Business lash and I'm Karen Moscow. And we continue to watch shares of home Depot this morning. They have turned lower, now down one point seven per cent.

Home Depot reported second quarter comp sales that beat analysts estimates, but it did say that Colm sales for the year could just meet what analysts are looking for. Futures this morning are lower. SMP Future is down about ten points down, futures down fifty seven and as day a few years down thirty six. The DACKS in Germany is up about half percent. Ten year treasury down to thirty seconds yield two point seven nine percent yield on a two year

three point to zero percent. NIMEX screwed oil is down six tents percent or fifty five cents at eighty eight dollars eighty five cents of Arrol Comic School down four tenths per cent or seven dollars sixty cents A seventy announced. The euro one point one four zero against the dollar, British found one point to zero to three and again at one thirty four point one one. And look at a bitcoin it is it'll change at twenty four thousand,

eighty dollars. That's a bloomberg business flash. Now here's Michael Barrow with more on what's going on around the world. Michael Karen, thank you very much. The Justice Department Center opposes the release of an FBI f A David justifying to search for and used to remove documents from former President Donald Trump's Marrow logo home in Florida. Last week, the do o J asked the judge to keep the filing sealed due to the investigation that implicates national security.

It is primary day in Wyoming and Alaska. Republican congress Womanalist Cheney is fighting to keep her seat after voting to impeach Trump. In baseball, the slumpy Yankees lost with the Rays for zip the Braves, oh mind, they put a what four and y whipping on the Mets thirteen one. The Nationals, Orioles and Giants won the A's lost. Global news twenty four hours a day on air and on Bloomberg Quick Day bower by more than dred journalists and

analysts more than a hundred twenty countries. How Michael Barr, this is Bloomberg, John, Michael, thank you. It is now five six twenty on Walster. We're live from the Bloomberg interad to Broker Studios. This is Bloomberg Daybreak. Well, analysts are seeking clues about how storing inflation is going to impact spending during the rest of the year. Retail earnings on Tap we we just got home Depot Walmart is going to report fiscals or second quarter results before the

market opened this morning. And joining us now with everything retail is John Edwards, us consumer team leader. Let's start off with a place where I've yet to buy a two by four that isn't warped. They're still buying at

home Depot. It looks that way. Yeah, there were some concerns that the housing slowdown was going to affect Home Depot's results, but it turns out that, you know, they beat expectations for the quarter, they reaffirmed their expectations for the year, and it seems that home improvement spending is still holding up. So it it looks like people are countering that home sales slow down by trying to fix up their homes to make them more appealing in the

market that's still out there. Okay, um, let's head to uh number one retailer, Walmart, and this is a story I would imagine about margins. Are people buying stuff that they need or stuff that they don't necessarily need with

higher margins? Now that yeah, that's exactly it. Walmart issued a warning in July late July saying that it's the mix of its sales was going to hurt its margins because because people were backing away from discretionary purchases of higher margin items like electronics and uh, you know, other discretionary goods and spending more on food and fuel, which

have lower margins. So the figure to watch is pent that's the current estimate for their gross margin for the second quarter, and we'll find out at seven o'clock if they hit that. Well at the top line, but people are still I mean, sales are actually increasing. Do I have that right? That's exactly right. Uh, you know what, when they issued that profit warning, they also said that

their sales would actually be higher than expected. And uh, again, the problem is not so much sales overall as the mix. So uh, they're selling a lot of groceries, um, you know, a lot of fuel at their their gas stations, but those items have lower profit margins for them, and so that's what's hurting their profits. Do these places have a lot of stuff in the warehouses that they got to

get rid of? Absolutely? Yeah, well they you know, Walmart and other retailers tried to stock up a lot, you know, during the during the pandemic, the height of the pandemic because of those supply chain problems, that we were seeing and uh, in some ways they might have been too

successful at that. You know, they stocked up on a lot of things that people were wanting back in the height of the the pandemic, and uh, now that people have shifted their their spending, uh, they're stuck with a lot of goods that they need to move and so they've had to uh bring in bigger discounts on those things, and that again is hurting margins even more. Uh it's back to school. Are they also preparing for um, you know, Halloween and Christmas even absolutely? Yeah, yeah they are. They're

getting ready. You know, Halloween stuff is probably already at least in the warehouses, if not starting to hit the shelves, and uh yeah, they want to be ready for the Christmas season as well. But again, you know, the concern right now is not so much being fully stocked. I think they feel like they're their shelves will be full enough. Uh,

it's getting rid of those uh that excess inventory. Okay, so that means I can go in and get a good discount, right if I want to buy something that nobody else wants record that's exactly a yeah, how much is that going to impact the margin their their profitability going forward. Uh, well, it's it's certainly. Again they issued a warning for the full year, so they expect that to hurt their profits through the rest of their fiscal year. Uh.

And we'll see what the recovery is like. And we'll we'll also see if they managed to exceed expectations their lowered expectations. The way Home Depot managed to beat their estimates. As Bell weathers, what does this all tell us the bottom line about the American consumer right now? Well, it it tells us that, you know, there is actually some

consumer strength out there. It's it's just you know, a matter of you know, we I mean, we see that obviously inflation is hitting people and and you know, sort of shifting them away again from those sort of discretionary, big ticket purchases. But people are still employed, you know, unemployment is low and uh so people do have money to spend. It's just they're spending it more on essentials like like food and uh and fuel. John, a pleasure,

appreciate it. Thanks for stopping buying this morning. John Edwards, the U S Consumer team leader here at Bloomberg. Again, we're waiting for Walmart earnings this morning before the opening bill on Wall Street. Home Depot did report comparable sales for the second quarter that did beat the average analysts estimate. Head of the cash open on Wall Street. Looking at

futures right now, they're in the red. The down futures fifty one points lower, smp E many futures there down seven points, and then as day futures right now twenty four points lower. As far as yields go, the ten year yield to seventy nine, the two year at three twenty and night nex crew Dow eight two A barrel. You're listening the Bloomberg and just a haad top stories. You're listening to Bloomberg Daybreak, broadcasting live from the Bloomberg

Interactive Broker's studio in New York. Bloomberg E Living Freedom to Washington, d C, Bloomberg to Boston, Bloomberg one oh six one, does San Francisco, Bloomberg nine sixty to the country, Sirius xm ch A one nine and around the globe, the Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's there's thirty on Wall Street. Good Morning, I'm John Tucker and I'm Karen Moscow. We are just about three hours away from the open of US trading time.

To the five things that you need to notice start your day, Bronzie, you buy Interactive Brokers. Interactive Brokers Global Analysts helps you find a global investment opportunity. Should diversify your portfolio and discover undervalued companies that may have greater growth potential. Try i v k our Global Analysts today at ib k R dot com slash g A. First, we begin today with stocks at a three month high. That's just find concerns over inflation and a potential recession.

Julie Beale's portfolio manager at Kane Anderson Rudnick. The ways that you can kind of stay out of trouble, I think is investing in businesses that typically just serve other businesses. And I like software because they have high levels of recurring revenue and very good profitability. I think that makes them more durable. Julie b l with Kane Anderson Rudnick says it's crucial for the Fed to reign in inflation

and to earnings. Now Home Depot reported sales above analysts estimates about these stock is down more than one percent we'rena hear from retail giant Walmart in about a half an hour and Bloomberg's Charlie Pellett as a preview. Analysts surveyed by Bloomberg's see Walmart reporting second quarter adjusted earnings for share of a dollar sixty three on revenue of

one hundred fifty one point one billion dollars. Walmart's insights into shopper behavior will be under scrutiny, was analystsic clues about how soaring inflation will affect spending during the rest of the year. The retail giant cut ITTs earnings outlook three weeks ago in New York Charlie pet Bloomberg day Break, All right, turning, thanks Well this morning, we're learning of moves from the world's biggest money managers on Bloombergy's Renny to Young joins us Live with more. Good morning Nia,

Good morning Karen. During the latest quarter, Stanley drugon Miller's family office sold its entire one ninety nine million dollar position, and Amazon and scaled back at steak in Microsoft Sorol's fund management meanwhile boosted it states in Amazon salesforce and Alphabet Berkshire Hathaway eliminated a Verizon steak and boosted other bets, including Occidental Petroleum and Michael Berry's Scion. Asset Management exited all equity positions except private prison operator Geo Group. It's

only stockholding as at the end of June. Live in New York. I'm gonna need a young Bloomberg Daybreak, all right, thanks, thanks for NTO. Those are the fine things you need to know to start your day. Brought to by it, brought you by Interactive Brokers, said ahead of the cash open on Wall Street, we have BAL futures down sixty two points. That's a decline of two tents of a percent. S and P evening futures down to eight that's down

two tents of a percent. And the NaNs day futures right now twenty five points lower, two tenths of a percent lower. Just ahead, local stories. You're listening to Bloomberg Daybreak. It's not six thirty three on Wall Street. And let's bring in Michael barn how to tell us what else is going on in New York hand around the world. Thank you very much, sir. Things appear to be back

to normal this morning. After travelers at New York City area airports, including JFK, LaGuardia and Newark were told by the f a A to expect delays because of airlines laughing shortages. Yesterday, this college student Mr Connector from Newark to get Syracuse. She told news for she had to spend the night at the airport. They only had like two hours at this airport and had to change channels and the next flight to Circus is in the morning.

The problem was said to be staffing at a facility that manages the airspace for all three major New York airports. Rudy Giuliani is a target of the criminal investigation into possible illegal attempts by then President Donald Trump and others to interfere in the general election in Georgia. Prosecutors informed

attorneys for the former New York mayor turned Trump defender. Meanwhile, Alan Weislberg, the Trump organization's longtime CFO, is said to be in Polee talks with state prosecutors to resolve tax for all charges. The effort to bring w NBA star Britney Grinder and fellow American detainee Paul Wheeland back from Russia is ongoing. Grinder is recently sentenced to nine years in prison in Russia. Her attorneys have filed an appeal.

Bill Richardson, who has worked in hostage negotiations through his position at the Richardson Center for Global man Engagement, He says he has talked to both sides and it's optimistic both sides are moving in the right direction because they've done it before. Despite the fact that the relationship between the United States and Russia is toxic, Bill Richardson believes Griner's legal team has been effective. Businessman turned philanthropists Bill

Gates spoke to South Korean lawmakers and Soul today. Gates called for more international efforts to prevent disease outbreaks like COVID nineteen, enhancing our global surveillance, having what I call a germ team three thousand people to tract things and stop outbreaks before they become pandemics. Philanthropist Bill Gates, the CDC has published new guidance on their website for Americans

who have caught monkey poks. Among the new recommendations, the CDs e's his people who can isolate in another household should take steps to avoid spreading monkey box, like disinfecting door knobs and not sharing towns. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts to more than hundred twenty countries. How Michael Barr, this is Bloomberg, John, Michael, thank you, And it is now

six thirty six on Wall Street. Time down for the Bloomberg Sports Uptape. Just John, Thanks John. The first place Matt's first place Yankees, and yet last night they both lost and by a combined score of seventeen to one. Mets pitching has been so good eight games in a row without allowing more than two runs. Just add back to back shutout to the Phillies with the Braves got three runs up Carlos Carrasco and then an eight run

six thenning to win thirteen to one. And since thosing four or five at City Field, Braves have won seventh straight. They're back to within four and a half of the Mets. Three more games remain in this series. The Mets have lost in for the Louis Ski or May to a growing injury. The Manager's Buck Show, Walt, Let's just play without Shore, Yankees playing without Stanton m These guys are playing without people. I mean, it is what is Yeah, he's stable, so it was so it's Jake de Gram

so it's uh, you know, Nemo has been down. Heels been down, I mean, and this is what it is. Yankee injuries have certainly hurt them. D J. Le May you're the latest to be out of the lineup. Still, it's remarkable how poorly the Yankees have played. That has been so good for three months. They've lost ten of

last twelve. They've been shut out four times. Tampa Bay, who had a near perfect game on Sunday from Drew Asthmas and last night used five different pictures for nothing, went at the stadium a second straight start for Garret Cole where he got no run support and those two starts only allowed one run, but has no wins to show for it. Tampa Bay Bucks have signed veteran defensive

lineman Carl Nassev. They had him once before. He's the one who a year ago, while a member of the Raiders, came out as the NFL's first opened the gay player. There was a report that Kevin Durant would retire before playing the in for the net KD posted on social media not true. He has said wants to be traded if the nets don't fire. Both coach Steve Nash and GM Sean Marks, John Stas Bloomberg Sports John all right, John, thanks a lot. It is not six thirty seven on

Wall Street. Time to look at stocks some of the names that are moving in the pre market. And for that we are joined by Bloomberg's Tatiana, darry A and Tatiana. We had earnings from Home Depot and people are still buying two by four as I guess, yes, how deep a big mover this morning, down about two point seven percent now after earnings and really the details for the quarter looked good. Comparable sales growth, net sales EPs all

beating estimates. But perhaps investors they're disappointed a little bit that the company didn't raise its full year guidance. It reconfirmed guidance also the twenty three outlook, and that you know, particularly those jitters as the slowdown in home sales and the broader economies and looming headwind for the entire industry and not just Home Depot. But another interesting nugget was the company said the average customer ticket was ninety dollars

in the quarter. That's an increase of nine percent a year over year, but it's unclear if this is a factor of price increases or if customers are spending more because the number of customer transactions fell at three percent. So we'll be looking on the call to hear more details. But those are the two metrics that analysts and investors are looking to see how inflation is impacting shopping behavior.

And of course this comes ahead of Walmart earnings that will tell us a lot more about the health of the U S consumer just in a few minutes from now. Okay, get back to the office. Let's let's start meeting in person. Um pandemic, Darling, Zoom, what's happening there? Yeah, the return to office is not very good for Zoom Communications at that stock is downe about three percent this morning after

City downgraded the stock to sell. So this is the first actual celerating for the DOC shares you know are taking a beating, of course, but they also remain deep in the red year to date, and our only training at about one fifth of a percent of what they were at the height of the pandemic. I mean, the crux of the downgrade is the growth issue. Right as people are are going back to the office there's growing competition from services like Microsoft Teams and other macro related

pressures that the tech giants have talked about. So all these issues you know, are looming over Zoom. They also have a phone business that they're trying to ramp up, but City is saying that is also, you know, facing rising competition and increasing turn rates. So the analysts they are not very sure that's gonna make a big difference for Zoom. So for now, the stock remains lower in the pre market and lower by about thirty eight percent here today. Okay, wells waiting for the number one retailer

Walmart for its earnings. Bloomberg's Tatiana Darry, appreciate it. Thanks for joining us looking at stocks as hole right now, the future is slightly lower. The smp E many futures downline points, NASAIC futures down thirty points, that's down two tenths of a percent, and the down futures right now

are lowered by sixty six points. And you're listening to Bloomberg Daybreak and the Bloomberg weather for it today for all media Roma just Ron Carolyn Sunshine, the high temperature in the mid eighties tonightly partly cloudy six to seventy tomorrow, partly the mostly Sunday chance of a few anternet showers, the high temperature eight markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg Crick Jake, He's a Bloomberg

Business Flash and I'm Karen Moscow and we are watching. Shares of Home Depot down more than two percent this morning. It's revenue growth talk estimates despite a slowdown in US home sales and the broader economy. Still it maintained its guidance for the rest of its fiscal year. Roger Federer back footwearmaker on Holding, raised its full year earnings forecast, ever seeing a boom in North American sales and reducing

a dependence on air freight. US Dock Index futures are lower this morning, the dollar rising as investors Frederber signs of a sharp economic slowdown even as the Federal Reserve stays in the path of monetary tightening. We checked the markets every fifteen minutes throughout the trading day. On Bloomberg, gues and p Future is down about ten points down, features down seventy four and as DAG features down twenty eight the decks in Germany's up sixtents of a percent.

Ten year treasury little change yeld two point seven eight percent. They yield on the two year three point zero percent. NIMEX screwed oil is down one percent and in our eighty seven cents now at eighty eight dollars, fifty three cents of barrel called makes school there is down four tens percent or seven dollars eighty cents at seventy announced. The Euro one point one to seven against the dollar, British bad one point two zero to one, a n

month thirty four point one four. Bitcoins down at quarter percent. It's a eighteen dollars. That's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Darren, thank you very much. The Justice Department is opposing calls to unseal the AFA. David's supporting the search of former President Trump's Tomorrow Lago home. The o J has called a grand jury and has witnesses cooperating with its probe focused on the mishandling of those sensitive documents.

Wyoming Congresswoman Liz Cheney, who is leading in the face of the January sixth riot investigation, is fighting to save hers seat in the House. Today, voters in Alaska as well as Wyoming are weighing in on the direction of the GOP primaries. In baseball, the slumping Yankees lost to the Rays for ZIP. The Braves pounded the Mets thirteen one.

The Nationals, Orioles and Giants won the a's lost. Global news twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than journalists, antialists, more than countries. Michael Barb, this is Bloomberg. Hearen all right, Michael, thank you. It is six forty nine on Wall Street. Return to news now in science and technology with the Bloomberg n j i T STEM Report, brought to you by New Jersey Institute of Technology. N j i T

makes industry ready engineers and more than twenty fields. If it's engineering, it's at n j i T. Learn more at n j I T dot E d U. And here's let's making news in science, Technology, engineering, and math. The CDC has published new guidance on their website for Americans who have caught monkey poks among the new recommendations, The CDC says people who can't isolate in another household should take steps to avoid spreading monkeypoks, like disinfecting door

knobs and not sharing towels. The agency also has updated their list of animals that can catch the virus to include dogs after researchers and France reported evidence suggesting a pet dog they're caught the virus after sharing a bed with their two infected owners. Apple has said September five headline for corporate employees to be in the office at

least three days a week. The tech giant has been working toward getting its employees back in the office since at least June, when it first announced the three day policy, but COVID flare ups forced the company to push back deadlines, leaving workers on a two day a week schedule, and a partial victory for billionaire Elon Musk against Twitter, a judge in Delaware has ordered Twitter to hanover files from

its former product head on spam and bot accounts. Musk has cited those and his attempt to abandon the forty four billion dollar purchase of the company, but Twitter does not have to produce documents from most of the employees that Musk says are key witnesses. That's the Bloomberg and j I T Stem Report. John, all right, thanks Karen.

We we're live from the Bloomberg Into Act to Brooksis Studios, where it is now six fifty one the Wall Street Time now to check what's going on in d C. And some of the top stories in our nation's capital include les Channi's pursuit of Donald Trump sets up a likely lost today and a springboard primaries today in Wyoming, as well as Alaska Justice Department opposing the release of the affidavitt in the search of mar Lago former Mayor Rudy Giuliani is told he's a target in the Georgia

election fraud probe, and the US Congress pushing President Biden toward a risky confrontation with China. Let's take a deeper diaving in these stories this morning with Bloomberg Radio and TV Washington correspondent and Marie Hord during you think that's enough, and Marie, let's start with the primaries today. I thought, yeah, I always thought it was the case too, But no, let's start with Liz Cheney. Is she pretty much toast

today in her home state. Pretty much. That's all but certain that she's going to lose to this challenger, Harriet Hagenman, which is completely backed by the former president. I think it was the New York Times that ran with the headline she's really uh in a face off with Trump, not not the actual challenger, because that is why she

is so far behind in the polls. She has a very conservative record when voting, but she obviously was a major player when it comes to the January six Select Select Committee, very outspoken against President Trump, voted for his impeachment. And this is a state where I think we need to remember the former president won by seventy so it is very difficult for her to now over overcome that. So what everyone is talking about in the chatter is maybe she launches a presidential bid for and that's where

maybe her eyes are going. Okay, so she's focused on the future. I'm also going to assume that the winner of the Democratic primary, if there was such a thing, that we're not going to mention them because it doesn't matter. I mean, he won seventy of the vote, right, It just it doesn't matter. That was ten people, by the way, kidding, um, let's move on to the next story. The Justice Department with the the Affidavid in the search of former President

Trump's residents mar A Lago. Now there's the um what have they released so far and what's the difference between this and the the affidavit. So they released the warrant in the list of what was collected, so we know that there's been eleven sets of confidential even above confidential documents, the affidavid really can show you the road map of the investigation, which is why the Justice Department is saying

they oppose the release of this. They say it's highly sensitive about witnesses, including witnesses interviewed by the government, and they say there is no alternative to sealing that that

could ensure the integrity of the government's investigation. So this likely sets up the failure of that being released right which a conservative group asked for that some media organizations are seeking the release for that, But ultimately there is still a slim chance because the judge who signed off on their search warrant being released, which happened last Friday, will ultimately decide if the affidavit should be released or not. But the Justice Department is saying, even if we redacted

some of these very sensitive parts of it. You won't even understand what the investigation is because that is how critical and sensitive it is. So it looks like it's not going to happen, but there is still a chance, right, because ultimately it's up to the judge. Yeah, and I should also point out sort of parenthetically that anybody whose name comes up with respect to this, their picture appears on conservative media, the judge um some of the FBI

agents involved, and then they face death threats or even worse. Right, And what we know from Fridays that a bulletin was sent out to law enforcement officials to individuals at courts saying that there is higher risk now of them being targeted because they do see some of the victual that is percolating on social media. So that's also probably likely part of the concern that the judge would take into account.

And when he was the U S Attorney for the Southern District here in Manhattan, Rudy Giuliani was the crime fighter. Now he could be facing possible indictment. He's at least a target to tell us more, right, So he's not just a witnesses what his attorney said he's now a target of this probe. Um, and this has to do with his work with the former president. He would lead lawyer in then President Trump's attempts to overturn the election.

And we're all here more on Wednesday tomorrow because that is when Mr Rudy Juliana will testify before Grand Jewry in Atlanta that is investigating these possible efforts to interfere with George's vote. Uh So this is all not going away, right, and we're going to hear a lot more about it.

But this probe that was started in Georgia really came in part by a phone call that Trump had made to the state's top election official, Brad Rathfinsburger, that he needed to find enough votes to flip the count in his favor. And that's really what they're after. Um. Can we finish up real quick about a minute with with confrontation with China as more congressional delegations visit Taiwan, right, So Ed Markey finishing up a trip there. He had a two day trip Sunday and Monday, and you know

Congress members go to Taiwan. This has happened before. There's a lot of highlight This trip is highlighted because it's on the heels of less than two weeks ago. Speaker Pelosi, which doesn't always happen to Speaker of the House, hasn't happened in a quarter century, made this trip, and obviously we all saw it happen with China UH sanctions cutting off some talks with the United States, as well as

these live fire drills. So now there's this weird moment between the Biden administration who does not want to get into a conflict of China, but at the same time Congress is pushing a little much more hawkish legislation. They're looking at one UH piece of legislation that they want to include in the Taiwan Policy Act and that would officially recognize the island as a major non NATO ally also give more about five billion dollars defense assistants. This

will be tricky for the Biden administration. A Marie, We're gonna leave it there. Thanks very much, good to talk to you as always, and you can read more about these stories on Bloomberg dot com with the Bloomberg term will reminder, you can follow all the latest on Bloomberg Radio and watching a Bloomberg one of five point seven FM h D two are Bloomberg Radio and TV Washington correspondent and Marie for Dern ahead of the open on Wall Street, Well, we're still waiting for earnings this morning

from the number one retailer Walmart. Down futures right now sixty six points lower, SMP EVENI futures, they're down nine points, and the Nasdaq futures are twenty four points lower. Just to have Bloomberg surveillance or Karen Moscow. I'm John Tucker, and you've been listening to Bloomberg Daybreak