Bloomberg Daybreak: December 19, 2022 - Hour 2 (Radio)

following that poll on Elon Musk's future. Will have more details at creating Kupta in just a moment, but first futures are higher s and Key Future is up about ten points or two tenths of upper sent Dal Future is up fifty six or two tenths of upper cent, and as Deck futures have a third of upper cent or forty points. The decks in Germany's up four tenths of upper cent. Ten year treasury down nine thirty seconds. You'll three point five one per cent yield on the

two year four point one seven percent now. Max Screwed oil is up four tenths percent or thirty three cents at seventy four dollars sixty two cents in barrel coll make school of a quarter percent or four dollar sixty cents and eighteen o four eighty and ounce the euro one point oh six oh seven against the dollar is bound one point one eight five and again at one thirty six point to five. And as a Bloomberg business flash, Nathan Okay, Karen, thank you to six fifties six on

Wall Street Bloomberg surveillances. Next, first we take a look at the names moving in the pre market with Bloomberg Radio and TV Markets correspondent creating good dec creaty. We have to start with Tesla while we wait for official word from Elon Musk that he's gonna abide by the results of that Twitter poll and step aside and presumably focus more on his other companies. I mean that seems to be the mentality going into the share action this morning. T s L as your ticker about four point six

per cent. This, of course, as you mentioned, comes from that poll which, by the way, fifty seven point five voted yes, we do want you to resign, So that is important when it comes to how he's going to act next. It's also important to mention that this dynamic that you've seen in Tesla shares is not a new one. We've seen this with the Twitter saga altogether. Every time Twitter shares rallied when it was public because of this deal getting closer and closer to getting closed, Tesla shares

took a hit. So now the idea of that inverse correlation showing up again, the idea that if he is going to step down from Twitter, maybe Tesla will get more of his attention. That, of course, is his main business. So t s l A shares up about four point six percent. Remember this comes in the backdrop of the ev maker falling thirty three percent since the Twitter deal closed. It still has quite a bit of a gap to make up. Here. Shares training about a hundred and fifty

seven dollars this morning. Nathan, You know, I thought by now this saga would end and it has not. Oh no, It's going to continue for quite some time. I have to imagine. And there's some other names, some pretty big names moving on, some new analysts recommendations as well. Yeah, Wall Street moving the stocks this morning. M r n as your ticket from Maderna shares up about four point six percent. Here as well, shares training around two oh two on the nearest stock exchange gains gains about like

I said, four percent. Jeffreys upgrading the stock to buy from my hold, saying it can rebound in on a return of pipeline opportunities. Remember, Maderna was really under pressure because of this idea that a lot of these code vaccinations, which by the ways, making up a good chunk of its bottom line, not as much as Fiser, but still a good chunk, is actually going to lose a lot of his momentum and revenue that's gained over the last two years. But now Jeffrey saying, look, it's diversifying, it's

looking into cancer treatments, looking into the drug therapies. That is all going to be a positive for the stock. And remember, Majerna isn't alone. You've seen this with a lot of biotech companies. J and J is a big one who rides therapeutics and am Gin that deal a couple of days ago. So this is becoming a bigger and bigger theme in biotech that they are actually looking to diversify their portfolio. Um and speaking of analyst recommendations,

let's also look at Netflix here. N f l X is your taker up about three tenths of one percent in the pre market. Any price target raise. Over at Morgan Stanley, they're saying on the back of currency swings, it's an interesting take, saying that even though the broker has flagged risks that expectations of valuations have run it too far, too fast, those currency swings might actually work in Netflix's favor. Remember a lot of their new growth is coming from abroad, not from the US, So it's

the dollar weekends. It's going to work in your favor. Yeah, it was something that we're called read Hastings talked a lot about in the last earnings call about potential currency headwinds for Netflix. So a very interesting call there. Thanks for this, Creaty. Good speaking with you. Bloomberg Radio and TV Markets correspondent Creaty gooped up. Futures moving higher this morning. This is Bloomberg Daybreak. I'm Nathan Hager along with Karen Moscow six fifty nine on Wall Street. Stay with us.

Bloomberg Surveillance starts right now, Live from the financial capital of the world, broadcasting across the globe. This is g w B b R, New York, Bloomberg Living Trio. Given the fact that the economy is likely to contract next year, Central Bank, Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business at and at Bloomberg quick take, He's a blue Bird business lash,

and I'm Karen Moscow. These updates brought to you by Interactive Burger's Vaughn Marketplace access their vast selection of over one million global fixed income securities, but no markups are built in spreads and low transparent commissions. Learn more at ibkr dot com. Slash, bonds and futures are higher this morning. We go to the first Word breaking news dance for today's morning call. Here's Bill Maloney, Bill, Good morning, Hey,

Good morning, Karen. That's right. US futures with a bid right now, with down futures of seventy two points, SAPs game eleven and nastic futures rise by forty four. The US ten year at three point five to, Gold is up three, oil is in the green, and bitcoin is trading little changed. Japan fell one overnight, while up markets are also trading in the green this morning, and back in the US on the economic front, at ten o'clock,

the NHB Housing Market index. In deal news L three, Harris is buying arrow at Rocket Dine in a four point seven billion dollar deal. And in other news, Morgan Stanley's Wilson says US profit drop could rival two thousand and eight, and a must poll shows fifty eight percent of voters want him to exit as the head of Twitter. Tesla is up four point six percent in the pre market. Wrapping things up, Amprise was cut to market reform at KBW, Baxter cut in neutually at JP Morgan and Moderner raised

to buy over at Jefferies Live. From the first breaking news dostcom Bill Malodey care great, Bill, Thank you to here Lie breaking news of her Bloomberg type squawk on your terminal squ A w U K and S Bloomberg business Flash. Now, here's Michael Barrow with Moore on what's going on around the world. Michael Karen, thank you very much. The House Committee investigating the January sixth sult on the

Capitol holds its final public hearing today January six. Committee member Adam Schiff says that he thinks there is sufficient evidence to charge former President Trump. Title forty two is set to expire on Wednesday. Will pass Out has declared a state of emergency due to an influx of migrants in the NFL. The Giants beat the Commanders, the Jets and Patriots lost in the NBA the next Nets one. The Celtics and Wizards lost, the Warriors one in the NHL,

the Rangers one. Argentina beat France to win the World Cup. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than twenty countries. Michael Bar this is Bloomberg Hearing alright, Michael Barr, thank you, and at six forty two on Walls Street. And let's turn to news now in science and technology with the Bloomberg and j I t Stem Report. And here's what's making news

in science, Technology, engineering and math. India and Vietnam are emerging as Apple's next manufacturing hubs as assemble partners seat to diversify its supply chain that's heavily centered on China. The multiyear effort to add resiliency to the supply chain, which began before COVID nineteen, they move as much of the third of its capacity to those Asian nations as well as Brazil. The updated COVID NAT booster shots give adults ages sixty five and older the greatest level of

protection against hospitalization. This is according to new US government data. The CDC says by valent boosters were effective at preventing hospitalizations due to COVID in this group compared with people of the same age who got two or more doses of the original formulation of the vaccine and L three. Harris Technologies has agreed to by rocket engine maker Aerojet

Rocket Din in a multibillion dollar deal. Aero Jet makes a range of rockets, including hypersonic engines and electric power systems for customers including NASA, Boeing, Raytheon, and Lockheed Martin. And that's the Bloomberg n j I t STEM Report.

Nathan Okay, Karen, thank you for coming up to sixty four on Wall Street Time Now to check what's going on in d C. Some of the top stories Internation's capital include the trump are Title forty two policy that turns away migrants of the border for pandemic reasons expires on Wednesday. Texas Governor Greg Abbott is predicting, quote, total chaos at the border if that happens, whether it's COVID

or some other issue. When you have people coming across the globe without knowing at all what their health status is, that almost by definition is a public health rest. There's every reason to keep that in place. When Democratic Senator Alex Padilla of California says it's pastime for Title forty two to go away. For all the Republican rhetoric about chaos at the border, open bords, etcetera. Number one, they have yet to come forward with a plan of how

to better handle the scenario. Number two, they have not been willing to commit the additional resources that the Department and agency say that they need. Senator Padilla and Governor Abbott, we're on a b C S this week. Also making news, West Virginia Senator Joe Manchin saying he has no intentions to leave the Democratic Party for now. As a BYPARS Infrastructure Bill and the Inflation Reduction Act, Let's see how

that plays out. If people are trying to stop something from doing so much good because of the politics, thinking that somebody else will get credit for it, Let's see how that plays out. Now. I'll let you know later what I decided to do. Senator Mansion was a guest on CBSS Face the Nation, which him be heard every Sunday on Bloomberg Radio along with ABC's This Week, Let's Bring in Bloomberg Government reporter Emily Wilkins for more on

what's happening in the nation's capital. Of course, one of the really big stories is happening this afternoon, Emily, when the House January six Committee meets. But with so much of the focus on the Sunday shows about the title forty two being lifted this coming Wednesday, how is the White House preparing? So the White House knew that obviously that this was coming for a while. This is something

that they wanted to see happen. And we know that they are preparing for more migrants to be arriving at the southern border and to be able to deal with this official set earlier this year that they're preparing for as many as eighteen thousand arrivals per day, more than current double numbers. But they are expecting an intake increase rather in that and so one of the things, of course, there's also a lot of debate going on at the time over this policy, over what to be done at

the border. Remember, Republicans in Congress state that they do want to investigate Homeland Secretary Alejandro Maracas and that they are concerned about what's happened at the Borders, who certainly expect to be hearing much more about him as Republicans take control of the Chamber and begin their investigations next year.

Now also interesting to hear some of that speculation rise up around West Virginia Senator Joe Manchin and his future in the Democratic Party, now that Arizona's Kirsten Cinema has already announced that she's becoming an independent Sharon. That's obviously is not the first time that Mansion has been faced with questions on whether or not he'll leave his party. I feel like we had the storyline a couple of different times in the last two years. But Mansion is

still saying that he's gonna stick with the Democrats for now. Uh. Part of it is going to be, of course, just a matter of numbers at Democrats US too. Then you're suddenly going to see a chamber where it's going to have very difficult to govern and to get things done. And and even Senator Sema has said that she's going to be, you know, supporting a lot of things that

she supported before as far as Joe Biden's nominees judges. Uh, some of the things that just sort of helped the Senate run on a day to day basis, and that we didn't have last year in part because of the fifty fifty even split um. And we'll see what happens with Mansion. I mean, he does have a very competitive primary coming up in and certainly a lot of people have pointed out that for Senator Cinema, her political future really behooved her switching to an independent. She was being

challenges from other Democrats. Will see what happens with Mansion. Might be as this West Virginia primary shapes up a little bit, maybe he too will feel some pressure to run as an independent or even as a Republican. But I think for right now, there's a sense that Mansion does have a very high approval rating in West Virginia, regardless of this party, and that might mean that he's able to successfully run as a Democrat and that he

doesn't really feel that need to switch parties. All right, our last minute here, Emily, let's get to the main event of the day. It sounds like every indication is there going to be criminal referrals coming out of the House January six Committee this afternoon. I mean, that's what the committee is going to vote on Nathan, and we've seen the committee being locked step this entire time. I mean, certainly, there there have been no surprises for the nine members

of of this committee. Everything has been highly coordinated. UM. I think the general consensus is that they would not be bringing these referrals forward if they were not able to pass them. And certainly, I think then the big question becomes, what is the impact is that's going to have on Trump's bid for the White House. We've already seen a number of independents get frustrated with him. That's why Democrats had a far better night than expected this

past election. UM. And this criminal referral really means that we're going to continue to see information on Trump, information on him from the Department of Justice. Uh. And it'll be very interesting to see what, if anything additionally is found. Of course, we are waiting for this report to come out this week from all of what the January six Committee has put together, just more details into the interviews they've done, the data that they've gathered, and we'll be

seeing what bomb shows that report contains. We're expecting that I believe this Wednesday to drop all right, and we'll be watching for a Bloomberg government reporter Emily Wilkins with us from the nation's capital. Read more at Bloomberg dot com or on the Bloomberg terminal and listen to Bloomberg Radio in Washington Bloomberg and one oh five point seven FM HD two. Of course, we'll have full coverage extended coverage of the House January six Committee hearing this afternoon,

updates throughout the day here on Bloomberg Radio. Right now SMP futures moving higher by eight points, and you're listening to Bloomberg Daybreak, Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, bloo Bloomberg Business at End at Bloomberg Quicktake. He's a Bloomberg Business Flash and I'm Karen Moscow. And global stocks are attempting to recover after two weeks and losses sparked by concern that continued policy tightening by the FED into their central banks

could trigger economic recession and hit profits. We checked the markets all day long here on Bloomberg. S and P future is a fifteen points and down futures have ninety seven, as day futures have fifty two. The decks in Germany's have six tents of upper sent the ten year treasury down ten thirty seconds here three point five one percent, healed on the two year four point one seven percent.

Nine max screwed oil of four tens per cent or twenty nine cents at seventy four dollars fifty eight cents of barrel Co makes gold up three tens per cent or five dollars seventy cents at eighteen oh five ninety announced And as a Bloomberg business flash, now here's Michael Barr with more on what's going on around the world. Michael Karen, thank you kindly. The House January six Committee is wrapping up its investigation into the violent US capital riot,

and the final meetings eduled for today. The penalists poised to recommend that the Justice Department considered criminal charges against former President Donald Trump. Authorities in Ukraine's capital Kiev, saying it's being targeted in a new attack and critical infrastructure points have been hit. In the NFL, the Giants beat the Commanders, The Jets and Patriots lost in the NBA, the next Nets one, the Celtics and Wizards lost, the Warriors one. In the NHL, the Rangers winners and Argentina

beat France to win the World Cup. Global News twenty four hours a day on air and on Bloomberg Quick Take Power by more than twenty d journalists analysts more than a hundred twenty countries. Michael bar this is Bloomberg. This he is breaking you. Who's from Bloomberg, Nathan Haygar And we have been telling you all morning about this poll to decide whether Elon Musk remains in a leadership role at the company he just bought weeks ago. That poll has closed and we get the results live and

now with Bloomberg Steve Rappaport. What's the results, Steve, Nathan. The tweeters have spoken and if Musk makes good on his pledge, he will respect the will of the people and stepped down as Twitter CEO. With more than seventeen million votes cast in a poll created by Musk, fifty seven percent said they want him out. Now checking over his feed, let's see if he has commented yet up so far, no word from Musk on the outcome of

the contest. Since taking over Twitter about seven weeks ago, Musk made a series of bold and sometimes controversial moves. He fired thousands of workers, dissolved in Oversight Committee reinstated former President Trump's account and publicly feuded with Apple. His conduct made some advertiser's question whether associating with Twitter's new owner would be bad for business. Musk's Twitter antics also had investors in Tesla worried he's too distracted with his

latest venture once again. The poll posted by Elon Musk results are in. Fifty seven percent of respondents say he should step down as CEO. Breaking news on Bloomberg Radio. I'm Steve Rappaport, Nathan Okay, Steve, thank you, and we bring back Bloomberg Quick Take correspondent Alex Webb for instant

analysis and reaction to the results of this poll. I'm sure you're feverishly refreshing your screen of Elon Musk's Twitter feed to see if he gives us any comment, But the last couple of tweets we got from the now current CEO of Twitter, Alex. Of course, as the saying goes, be careful what you wish for, as you might get it, and those who want power are the ones who least

deserve it. Your thoughts now that the people, as they say, have spoken, well, you know the thing that both brands and investors don't like is uncertainty, and unfortunately, for now, this seems you've created more uncertainty. Uh. Some of the tweets of Elon's tweets subsequent to posting the poll said that there is quote no one who wants the job

who can actually keep Twitter alive. There is no successor, so um, you know, even if he was facing pressure from potensional investors, existing investors, not Tesla and Esta's to consider stepping down, it doesn't seem like there's an obvious succession plan in place. So we'll have to see how the day pans out, whether he will indeed step down immediately or at all, or as is perhaps most likely, in a few months or weeks, when someone has been

found to come in in his stead. Now, we've also been watching Tesla shares on the news that Elon Musk could step aside. They've been hovering around the four point seven four percent range and popped as high as five percent at one point. It looks like they're kind of sticking to that range. In our last minute here, Alex, what does that tell you about Twitter in or I'm sorry Tesla investors sentiment on Elon Musk's next move I

think they're clearly optimistic about the prospect. You've been spending more time at Tesla, which is not without its own problems at the moment with electric car delt slowing, problems with the manufacturing facility in Shanghai, the stactory they're trying to bring online in Austin. All these problems needs solvings. Of the distraction of everything that's going on on Twitter probably has not been helping um investor confidence and says

that we've seen that bump this morning. Obviously the huge great surprises because you could see the poll happening in real time, and the likelihood of him adding three million votes in the last minute and a half seemed pretty slim.

And the final results, with seventeen and a half million Twitter users voting on whether Elon mush had stepped down his head of Twitter, fifty seven and a half percent say yes, forty two and a half percent say no. Elon Musk, in that tweet announcing the poll twelve hours ago, said he would abide by the results, of course, will continue following to see whether he makes good on that pledge. Bloomberg Quick Take correspondent Alex Webb, thanks for sticking around

a little bit extra. As we've watched that poll draw to a close, We're gonna have much more of this morning's top stories, local headlines, and a full check of markets as well. First, let's bring back Bloomberg Meteorologist Rob Carolyn. High pressure will slowly hit our way, keeping the weather quiet through Wednesday. Lots of sunshine today, it's breezing and

chili with temperatures near forty degrees. Clear skies overnight those year thirty tomorrow more sunshine less than the way of wind Hiser close to forty Tomorrow afternoon we're cleared, partly cloudy in thirty Tomorrow night, partly to mostly sunny Wednesday,

high forty. I'm Rob Carolvine with your three day forecast on Bloomberg eleventh, three oh broadcasting live from the Bloomberg Interacted Broker Studio in New York, Bloomberg Elving Freedom to Washington, d C, Bloomberg ninety one to Boston, Bloomberg one six one to San Francisco, Bloomberg nine six to the Country, Sirius XM Chado one nine team, and around the globe the Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak. We're coming up to six thirty on Wall Street.

Good morning, I'm Nathan Hagar and I'm Karen Moscow, where nearly three hours away from the open of US trade, ain't time to the five things you need to know

to start your day. It has brought to you by I d k R Investment Advisers switched to Interactive Brokers for lowest cost global training and turnkey custody solutions, no ticket charges and no conflicts of your interests at I b k R dot com slash r I A first you've been give with more turmoil at Twitter, Elon must future role of the company is now in doubt, Bloomberg. Steve Rappaport joins US Live with the latest on that story. Steve,

good morning, Good morning, Karen and Nathan. Twitter's outspoken owner surprisingly quiet this morning after a majority of Twitter voters in a poll he created said he needs to step down as CEO of Twitter. Musk pledging to abide by those results, but again no comment yet. Fifty cent said he needs to go this after a series of controversy since he took over the platform seven months seven weeks ago. And sometimes they say tweets can come back to haunt,

and this one could be an example. Nine hours ago, Musk tweeted, those who want power are the ones who least deserve it. Live in New York. I'm Steve Rappaport Bloomberg day Break. Okay, Steve. Thanks. Turning to politics, the House January six committee votes on recommendations today and whether former President Trump should be prosecuted, among them obstructing an official government proceeding and conspiracy to the fraud the United States.

Democratic Congressman Adam Shift says the former president's actions could also match criminal insurrection charges. This is someone who tried to interfere with the Joint Session, even inciting a mob to attack the Capitol. If that's not criminal, then I know what it is. Democratic Congressman Adam Shift tells CNN the committee has focused primarily on charges where there is

the strongest evidence. All turning overseas to China right now, Nathan, the government's response to a COVID outbreak is front and center. More than a month after the country saw an exponential surge in COVID cases, is reporting minimal deaths from the virus just to today, has calling into question how Beijing is changing his approach to COVID and whether it's undercounting fatalities. Turning to markets, Karen, futures are higher this morning. Assets

are still pricing central bank rhetoric. The SMP five hundred ended last week two percent lower after Hawk because remarks from the FED in the European Central Bank. Former Treasury Secretary Larry Summer says, even though markets took a hit, he has confidence in FED Shareing J. Powell, the broad picture is where it was. I've been gratified to see the ways in which the FED has caught up, but

they've got very challenging judgments to make going forward. Former Treasury Secretary Larry Summers spoke on Bloomberg's Wall Street Week heard every weekend on Bloomberg Radio and television. Well, turning to oil now, Nathan, we're seeing swings between gains and losses this morning. Crewde Rose at the week's open. Following up ledge from China to revive consumption. There's also news about plan from the Biden administration to begin refilling the

nation's strategic reserves. And I'm ex screwed oil. It's s seventy eight cents a gallon that's the five things you need to know to start your day. Brought to you by Interactive Brokers. Thanks hearing sixty one on Wall Street. Let's bring in Michael bar for a look at what else is going on in New York and around the world. Good morning, Michael, Good morn Nathan. The Texas border town of El Paso as declared a state of emergency fearing

an influx of migrants. This week, when titled forty two will likely end the Trump error provision returned all asylum seekers back to Mexico, forcing them to wait there while their asylum requests are processed. Texas Governor Greg Abbott defender the tough approach he's taken to border security, including the

busting of more than fourteen thousand migrants from Texas. The so called sanctuary cities like New York I removed them to locations that self identified as sanctuary cities that have the capability and the desire to help out these migrants, and so that's exactly what's taken place. Meanwhile, Democratic Senator Alex Paedia of California pushed back for all the Republican rhetoric about chaos at the border, Open Boords etcetera. Number One, they have yet to come forward with a plan of

how to better handle the scenario. Number two, they have not been willing to commit the additional resources that the apartments and agencies say that they need to handle this big influx. Senator Badilla and Governor Rabbitt spoke on ABC S this week, which can be heard Sundays on Bloomberg. We're learning more about the terrifying moments aboard Hawaiian Airlines flight thirty five from Phoenix to Honolulu yesterday. Severe turbulens

injured dozens on board. Hawaiian Airlines Chief operating Officer John Snook, we do you know that there's internal damage to the aircraft. Some panels that are that are bently buckled, um that will need replacing and uh and the aircraft is undergoing a thorough inspection, is going to require some maintenance work before we put it back in the air. Hawaiian Airlines John Snook says the plane was carrying two passengers and crew. Sunday was the first night of Hanakah, and Jewish communities

across the US are celebrating by lightning. Manures Global News twenty four hours a day on air and on Bloomberg Quicktake powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael bar this is Bloomberg, Nathan, Thanks Michael. Six thirty three on Wall Street Time for the Bloomberg Sports Update Frontier. If I try stayed out here, here again is John stanshow Banks. Three weeks ago on the NFL regular season, Giants and

Jets both hoping to be wild card playoff teams. The Giants in much better shape they want. At Washington twenty to twelve, Daniel Jones finally winning in prime time. He'd been all in nine se Kwon Barkley scored a TV had some big runs in the fourth quarter. The defense held the Commanders. The only one touchdown Washington thought they had one final seconds wiped out by an illegal formation

penalt vehic called disputed by the Commanders. At the season end of now, Giants would be the sixth seed in the NFC in Washington would also get in as the seven. The Jets are on the outside looking in at MetLife took their first leave with less than five minutes to go. Under two minutes left. Detroit had fourth and one at midfield, Founder's center, Justin Jackson on back offs Gounna throw it back and looking close wide open ut side, brock Right

with it to the thirty. Brock Right twenty five, brock Ride twenty Cook back and the can he took five song touchdown Detroit Giants. My lines radio call the Jets. Greg's air line missed the game time fifty eight yard field goal final play Detroit one seventeen, the Jets third straight loss. They dropped to five hundred. Patriots and Raiders looked headed for overtime until New England started laterally in

like teams do when they are trailing. The game was tie Las Vegas one, running a box lateral back for touchdown. Nicks Netson Rangers all one on the road. Winning streaks continued to Nixon Rangers seventh straight. The nets Of won their last six. Leonel Messi says he's not done playing for Argentina, who beat France four three and penalty kicks in an epic World Cup final. John Station, Bloomberg Sports, Nathan all Right, John, thank you, and Bloomberg Sports was

brought to you by Audie. Don't let someone else drive off in the Outie model. You've always wanted. Visit your local tri state autie dealer to get behind the wheel of yours today, or visit autie Offers dot com for more information. Six thirty five 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 Podascott K and X in Los Angeles. We're talking about the sale of the original animatronic model used to bring each eat a life in the classic sci fi movie. I'm Jeff Fullinger and on w tv N and Columbus. I'm reporting a majority of Americans doubt their personal finances will improve in the new year. I'm Stephen carl and

Bloomberg DAB Radio in London. We've been speaking to the head of Germany's EFO Institute about their latest therapy showing a slice improvements in the business climate in Europe's largest economy. I'm Ed Cory on w w J in Detroit. I'm reporting the hybrid vehicle it's sticking around longer than many anticipated, and those are. Some of the stories are twenty seven hundred Bloomberg journalists and analysts are working on this morning around the world. It's six thirty six on Wall Street.

The following commentary is from Bloomberg Opinion. What happened when the Bay Area rejected growth? I'm justin Fox, a columnist for Bloomberg Opinion. In nineteen fifty nine, the U. S. Commerce Department prepared a report about the future development of the San Francisco Bay Area. It foresaw the area's population quadrupling to fourteen point four million by two thousand twenty.

This was to be accomplished mainly by turning agricultural land into suburban subdivisions, although the report included a map showing that most of the Bay could conceivably be converted to land if needed. That map, in particular, helped inspire a region wide backlash against growth that was understandable but eventually got out of hand. The Bay Area now has three quarters of its land area set aside as open space, the country's most expensive housing, and a host of related

social and economic problems. It also has a population about half what was envisioned in nineteen fifty nine and falling. I'm justin Fox. For more opinion, please go to Bloomberg dot com slash Opinion, where O P I N go on the Bloomberg Terminal. This has been Bloomberg opinion and you can hear Bloomberg opinion commentaries every weekday. At this time, terminal customers can read more at O P I N go.

SMP futures right now up twelve points down, futures up seventy six and NASDAC futures are hired by forty seven points ten, Your treasuries down ten thirty seconds, the old three point five one percent yield on the two year four point one seven percent. Nim X screws hired by six tenths percent or forty three cents at seventy four

seventy two. A barrel comic gold is up three tenths percent or five dollar sixty cents at eighteen O five eighty announce and the euro right now trading at one point zero six zero nine against the dollar six thirty eight on Wall Street. Up next on day break, we wait for the January six committees end game and the end of a pandemic era immigration enforcement policy. Bloomberg Government's Emily Wilkins joins us. Next, This is Bloomberg Live from

the Bloomberg Interactive Burger Studios. This is Bloomberg day Break for Monday, December nineteen two. Coming up this hour, new Twitter Paul could reshape leadership of the company. The January six Committee votes on the legal fate of former President Trump.

COVID deaths in China come into focus as it pivots away from strict policies, and Marcus looked to recover from a FED induced skin How will the likely end of two fact Immigrants, States and Cities Plus with artist Manor in New York City was lit to begin anaka, I'm Michael barn More, I'm John stand Daron Sports that Giants held on for a big win at Washington, the Jets lost to Detroit and nixed Nets and Rangers All one.

That's all s Trendy ahead on Bloomberg Daybreak on Bloomberg e Living Free on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Syrius Exam one nine Team and around the world on Bloomberg Radio dot Com and via the Bloomberg Business app. Good morning. I'm Nathan Haygar and I'm car at Moscow.

A US Knock Index futures are on the rise this morning, and we check the markets all day long here on Bloomberg radios, and P futures of fourteen points up a third of upper sent down futures up three tens per center ninety four points, and ASDAG futures of four tens per center forty eight points, and the ten year treasury down ten thirty seconds you three point five one percent. They yield on the two year at four point one

seven percent, Nathan, Karen. We'll get more on markets in a minute, but we begin this morning with turmoil at Twitter, even more of it with a new Twitter poll that could determine Elon Musk's future role with the company. Bloomberg. Steve Rappaport joins US Live with the latest. Good morning, Steve, Good morning, Nathan and Karen. Two questions dominate the Twitter sphere this morning. First, will users vote Musk out as CEO? We'll get the answer to that one. In less than

twenty minutes. More than seventeen million users voted saying Musk must go if they a's have it, What happens next. Musk pledge to abide by the results of the poll he created, but an opinion poll is us that meaning he's not legally required to make good on his word. Live in New York, I'm Steve Rappaport Bloomberg Daybreak. All right, Steve, thanks well. Turning to a major headline in politics this morning. The House January six Committee votes today on recommendations that

former President Trump be prosecuted, Bloomberg said. Bachelor reports lawmakers are considering a number of charges, among them for obstructing an official government proceeding and conspiracuited to fraud the United States. Congressman Adam Schiff already saying that Trump's actions are pretty much a good match for criminal insurrection charges. This is someone who tried to interfere with the Joint Session, even inciting a mob to attack the Capitol. If that's not criminal,

then I don't know what is. Recommendation could also come from Mark Meadows and Rudy Giuliani. Hearing at one pm Wall Street Time in San Francisco. I'm at Baxter Bloomberg Radio, All right, and thank you. Meantime, Senator kirston Cinema's defection from the Democratic Party continues to reverberate across Washington. Now it has some asking if Joe Manchon will do the same. The West Virginia senator, though, says he remains committed to

the Democratic Party for now. They know how independent I am. The deed does not saddle me to everything the Democrats want to do. Is what's right. I don't think the Democrats have all the answers. I don't think the Republicans are always wrong and vice versa. I don't look at things that way. The Senator Mansion spoke on Face the Nation from CBS, which you can hear every Sunday on

Bloomberg Radio. Well, let's turn overseas now to China, Nathan, where the government's response to a COVID outbreak is front and center. More than a month after the country saw an exponential surge in COVID cases, is reporting minimal deaths from the virus, and that's calling into question how Beijing is changing its approach to COVID. Bloomberge John lou has more in that story. Suspicion is growing that China maybe

undercounting the number of COVID deaths in the country. That's after authorities reported to fatalities today, the first that's officially attributed to COVID since the country began pivoting away from COVID zero in early December. It's also amid media reports of increased activity and crematoriums if your homes in Beijing, and follows the report by Chinese outlets hishing the authorities of substantially narrow the definition of what a COVID death is.

All of this is casting further doubt on how reliable China's official data is in Beijing. Joe Lou Blue Break, day break, Okay, John, Thanks. Turning to markets now, Futures are moving higher to begin the week. Assets are still adjusting to central bank rhetoric. We saw the SMP five hundred and last week two percent lower after hawksh remarks

from the FED and the European Central Bank. Former Treasury Secretary Larry Summers tells us even though markets took a hit, he has confidence in FED share j Powell, the chairman is in about the right place. He's recognizing that we can't forecast the economy with precision. He's recognizing that it would be a terrible error if we were to fail to stop inflation. In this episode, Larry Summer says the FED should still be concerned with challenging decisions on the horizon.

The former Treasury secretary was a guest on blue Burg's Wall Street week which you can hear every weekend on Bloomberg Radio and television. Well Nathan. Rhetoric from the Fed also reverberated across Asia. Overnight stocks in the region slid as type policy stoked fears of a global recession. At Bloomberg Daybreak, Asia anchor Brian Curtis has more Asian stocks declined as the Fed hammered home it's committed to raising interest rates. The yen extended gains for a second day.

The yield on Japan's five year note rose to the highest in seven years. A Kyoto report said Japan's prime minister might allow more flexibility and monetary policy. A top government spokesman denied the report. The dollar was weaker. Brian Curtis, Bloomberg Daybreak. Okay, Brian, thanks back here in the US. There's more economic data to digest, and housing data takes

center stage. Bloomberg's Viney Dell judais as a preview, we'll get data on the US builder confidence today, Housing starts tomorrow, existing home sales Wednesday at new home sales Friday. The builder confidence data provide a perfect illustration of US market conditions. Sentiment has been falling since the start of the year. The longest structure of the clients and data back to nine.

Interest rates rise altso one. This week's US agenda data on consumer confidence and come and spending manufacturing in the final revision of third quarter GDP data. Bloomberg day break here if any thanks, so. Turning to oil now, we're seeing swings between gains and losses this morning. Crude rose at the week's open following a plant from China to

revive consumption. There's also news of a plan from the Biden administration to begin refilling the nation's strategic reserves and checking prices Right now, nin max screwed oil is up half percent or thirty seven cents at seventy four dollars sixty six cents of barrel brent is at seventy nine dollars fifty nine cents. Straight ahead, we have your latest local headlines plus the check of sports, and this is Bloomberg. Thanks Staring at six o seven on wall strees in

New York. Good christ Today. They will be mostly sunny with breezy, with the high only near forty. Agrees we'll get back down to the thirties tonight. Michael Bars here with Bara what you need to know New York and around the world. Good morning, Michael, Good morning Nathan. The Texas border town of El Paso has declared a state of emergency fearing an influx of migrants this week when a court order forces the Biden administration to lift Title

forty two. The Trump error provision returned all asylum seekers back to Mexico, forcing them to wait there while their asylum requests are processed. Texas Governor Greg Abbott says there will be total chaos if Title forty two is lifted. Governor Rabbit accused President Biden of having open border policies that malicious actors are taking advantage of. It is known

by the cartels, who have sophisticate information. Whether or not the bidenministration is going to enforce the immigration laws or not is known across the world, but most importantly known among the cartels. Meanwhile, Democratic Senator Alex Padilla of California pushed back against what he called Republican rhetoric. We're what much different place when it comes to COVID today than we were to almost three years ago. So it's pastime

for a Title forty two to be gun. Senator Badilla and Governor Abbott spoke on a d C S this week, which can be heard Sundays on Bloomberg. Border. State leaders aren't the only lawmakers sounding the alarm about the expiration of Title forty two. In New York City, more buses transporting asylum seekers are expected to arrive today. Neyor Adams is asking for a new round of federal and state help. Dozens of people were injured after a flight headed for

Hawaii hit severe turbulence. Like thirty five from Phoenix to Honolulu was thirty minutes outside of its destination when the incident happened. The plane was carrying two eight passengers and crew. Sunday was the first night of Hanaka, the Jewish communities across the US are celebrating. In Washington, d C. The lighting of the world's largest manua began. The first of eight candles was lit on the ellipse just across from the White House. Attorney General Merrick Garland. Last night was

the principal government speaker. We must stand up against the disturbing rise in anti savagism. In Brooklyn, thousand attended one of the city's largest minorrehs to mark the season. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg, Nathan. Thanks Michael six o nine on Wall Street time for the Bloomberg Sports Update. Bronto

you by tri Stay downy. Here's john Stown Shower. Okay, they have the Giants game in Washington, so big it was moved into prime time. Giants had lost their last eleven night games, and they came in winless in their last four, while the Commanders had only lost once in their last eight. They're the only team to have meeaten the Eagles with the Giants took the lad thanks to

a rookie. It's the snap back to flow. He's on the pressure sack my Tibot of the Flaws, loose on the ground, scoop up in the end zone for a touchdown. Tibodeau with the at the fourth stuck and then the touchdown. He completes the w F. The Antibodaux all over the field all night and the Giants won twenty two twelve held on at the end. The Commanders thought they had a touchdown to get there within two, but it was notified by a penalty and the Giants now in much

better shape to make the playoffs. The Jets are not costly twenty to seventeen home lost a red hot Detroit. Zach Wilson back is the starting QB for the injured Mike White, and Wilson played fairly well, but the Lions wanted on a late fifty one yard pass play on a fourth and one of Detroits one six of seven.

Two of those wins have come at MetLife. Nicks Nets Rangers all one on the road could continue their winning streaks seven straight for the Knicks at Indiana finished on an eleven to two run beat the Pacers one O nine, one oh six. Jalen Brunson scored thirty and Detroit Kevin Durant scored forty three. He had twenty six and the third quarter the Nets one one and Brooklyn has won its last six seventh straight for the Rangers seven one at Chicago's seven different Ranger goal scores. The World Cup

Final build as Leonel ssty versus Killian Umboppy. Together they put seven balls into the net, five on penalty kicks. Messy and Argentina beet France four to three. Some are calling it the most exciting soccer game ever. John Stashower, Bloomberg Sports NAO. Okay, John, thank you. The Bloomberg Sports Report was brought to you by Audie. Don't let someone else drive off in the Audi model you've always wanted.

Visit your local tri state Audie dealer to get behind the wheel of yours today, or visit Outie Offers dot com for more information. SMP futures are higher by fourteen points, DAL futures up ninety six, dance deck futures on the rise by forty nine points ten, Your treasuries down ten thirty seconds deal three point five one percent yield on the two year just shy a four point one eight percent TESLA moving higher by four point seven percent on

the possibility of Elon Musk stepping away. As CEO of Twitter Live from coast to coast from New York to San Francisco, Boston, to Washington, d C nationwide on Sirius Sam the Bloomberg business appened Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's get back

to our top story this morning. We're just a few minutes away from learning the results of a poll that could determine whether, if not Elon Musk steps aside as CEO of Twitter, what the users of the social media platform think he should do. Let's bring in Alex Web for more on this. Who's been following the Twitter Musk saga? Really from the get go? Or Bloomberg quick take correspondent before we get to what sparked this pole, Alex, I mean, what an incredible run of weeks of turbulence for Twitter

and Elon Musk since the buyout. It certainly made our troves a little bit hard because then we step in and try to write something, make a video, report anything out all changes. Uh, it's you know, even just in the past twenty four hours, we've seen scisfic changes in the direction of travel, and of course the impact of that is that the brands who essentially pay the bills at Twitter because of there, who advertised on there they've pulled back a lot of their advertising and that's created

cast flowers. Is that we don't quite a scale of it. We know we have to find one point two billion a year to repay the debt obligations. You then look at the kind of other operating expenses that Twitter has, you know, the kind of operating expensive three and a half billion a year. How easy is it to cover those?

Clearly getting one imagined more difficult. Yeah, I mean that's a big part of this story, isn't it Just the fact that all the changes that Elon Musk has made since he took over really rubbed so many advertisers the wrong way. And now we got this report just this last week that Elon Musk was looking for more private investors to come in at the twenties share price that

he bought the company for. How much behind the scenes pressure is there potentially for Elon us to follow through if the results of this poll come down with the majority in the yes side, that he actually goes ahead and does this and stuffs aside a CEO. So we haven't seen any reporting yet on what they're behind the scenes pressure might look like, but we can look at the things that we do know, namely that um, you know, last week Tesla had its worst week in two years.

UM it lost six last week alone over the course of five days trading. UM the stock is now up on the prospect of Elon must stepping down at Twitter. We also know that he was out looking for additional investment in Twitter itself. It's not hard to imagine that, you know, maybe in some of those conversations people might be saying, well, maybe we will invest, but not necessarily

with you as CEO. That's purely speculation, But you know, if you look at the timeline of events, it's not hard to imagine that something like that might have been feasible. What is this whole episode done for Elon Musk's position sc of his other companies? I mean, you look at Tesla shares right now, they're popping in the pre market on the idea that Elon Musk could step aside as CEO of Twitter and presumably focus more attention on Tesla.

But has this whole episode sort of shaken confidence among Tesla investors and whether he should continue in leadership of that company. It's kind of hard to tell, because you know, ultimately is Tesla trading down because people are seeing aside of Elon they didn't know, Or is Tessla trading down because they're not getting as much eilon as they would like, Right, It's quite hard to tell what the what the truth

is there. Ultimately, you know, Test has been trading in excess of thirty time, and in excess of thirty times it's forward earnings. The broader market trades at about twenty two times forward earnings. Car makers tend to trend attend to trade significantly below ten times forward earnings. So there's phaps, a little bit of correction bringing it back into the into the realms of the broader automotive industry, although so long way it's training a significant premium still to all

of that. Um the idea that he might be stepping down from Twitter has clearly benefited Tesla stock in the pre market, as you say, which suggests perhaps that people want more Elon, they don't want less. The Tesla investors are invested in him just as much as they are in that company. Got about a minute left here before we uh find out just exactly what the results of this pole are If Musk does step down as the

CEO of Twitter. Alex who fills the gap. I mean either half of the workforce has been fired or has decided to leave the company after all the Delon Musk has done. I mean that is the sort of forty four billions or a question, isn't it. Jack Dorsey is in the former CEO who had stepped down or to concentrate on on Block as it's now called. His payments company is perceived to be very close to Elon Um whether he would want to work for him different matter entirely.

There are plenty of capable people out there, um, whether you know, questioned, playful people who want to work essentially for Elon Musk under these circumstances. Al Right, well, we do, as I say, expect the results of this poll to uh come down in just a couple of minutes here around six twenty Wall Street time. It was around that time yesterday that Elon Muska posted this poll on Twitter

asking whether he should stay or go as CEO of Twitter. So, Alex hope you will stay with us for the next couple of minutes here as we find out exactly what the people say who used Twitter and took part in this poem, whether Elon Musk should step beside as CEO head of that. SMP futures are up thirteen points, Staff futures up eighty eight, Nasdaq futures of forty nine points. Tesla shares higher by four point six percent. Stay with us, you're listening to Bloomberg Daybreak