Bloomberg Daybreak: December 21, 2022 - Hour 2 (Radio)

and futures this morning are on the rise. S and P futures of twenty two points or six tents of uppercent. DAL futures have two hundred sixty four points or eight tens of a percent, and as the features at forty three points or four tenths of uppercent. The decks in Germany is up eight tenths of a percent. The ten year treasury up one thirty second YELD three point six seven percent, yield on the two year four point to two percent. NIMEX screent oil is up more than two

percent of a dollar. Say it's seventy seven dollars eighty four cents of barrel. Go make skull There is down a tenth of a percent on a dollar ninety At eighteen twenty three, fifty announced the euro one point six one four against the dollar, British pound one point two zero nine nine, and the Yunis had won thirty one point eight seven. Look at a big coin, it's little change at about sixteen thousand, nine hundred dollars. And that's

a Bloomberg business flash, Nathan. All right, Karen, thank you to six fifty six on Wall Street Bloomberg surveillances. Next, first we take a look at the stocks moving in the pre market. Bloomberg Radio on TV. Markets correspondent Kritty Gupta is here with a really long list of stocks, starting off with Nike after the earnings. Cretty, it's interesting, despite all the talk about recession next year, people still

want their kicks. Yeah, it looks like the analysts really got busy this morning, which makes our jobs a little more interesting. And k is the taker for Nike shares up about a twelve point six percent. We'll call it thirteen. It's coming after analysts hiking their price targets. After exactly what you said, Nathan, a quarterly sales beat for Nike that the robust update demonstrates the brand's strength to despite a pretty tough macroeconomic backdrop, that is a glowing stamp

of approval if I've ever heard of one. Um So that's going to be a crucial mover this morning and really rewarded by the stock market, at least in the pre market for by a lot of investors. The other one that's getting a little bit of a boost this morning, Tesla shares t s l A shares up about one point three percent. This morning comes after Elon must confirmed that he will resign as CEO of social media firm Twitter when a successor is found. Instead, he's gonna focus

on the engineering teams of it. Remember that inverse correlation between Twitter and Tesla still very much alive. The idea here that if he does indeed leave Twitter, then Tesla gets more of his attention, and that's a good thing for that business at least has the way it's interpreted in the market. But remember there is also a part of the story that you need to keep an eye on, which is reports on Tesla itself preparing for a hiring freeze.

It's coming from Electric Nathan Tesla implementing a hiring freeze and a new round of layoffs in the first quarter of three, once again not reported by Bloomberg, reported by Electric but looking to not quite dent the stock games this morning. Now we're also seeing some gains for companies that are beating on earnings, particularly fed X. I mean, we were going into these earnings thinking they would disappoint

and what a surprise here. Yeah, we are seeing them rally this morning about four percent after second quarter earnings once again beat those estimates. And remember FedEx employed a really interesting strategy. They try to get ahead of the hiring problem going into the holidays, really trying to say, well, labor is important to us, We're going to get ahead of it. And the earnings really reflected that that was

a winning strategy. They beat those analysts estimates. They also have price increases and cost cuts that also helped um really just kind of make it up on the bottom line, even if you did see that dropping volume. So interesting story out of FedEx. I'll leave you with one last one, and that of course is going to be Starbucks, the stock declining by eight tenths of one percent. Downgraded to a hold over at Jeffreys. Now they are positive on the U S restaurant area, and UH sector broadly, but

they are downgrading Starbucks just for today. Okay, Bloomberg Radio and TV Markets correspondent Credi Gupta, I will see you in the pantry to get our load up on the coffee right now. SUP futures up twenty three point, staff futures up two D seventy and Nastack futures higher by forty five points. This is Bloomberg Daybreak. I'm Nathan Hagar

along with Karen Moscow. It is six fifty nine on Wall Street and Bloomberg Surveillance starts right now, live from the financial capital of the world, broadcasting across the globe. This is w b b R, New York, Bloomberg Living Trio. It's clear that banker Japan's gotta hip next year. It's the end of an era and investors have to get used to higher interesting 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 He's a Bloomberg Business line and I'm Karen Moscow. Futures are on the rise this morning. We go to the First Word Breaking news desk for today's morning call, and here's Bill Maloney, Bill, good morning, Good morning, Karen. That's right. US hugues are firmly in the green, helped by earnings from FedEx and Nike. You just fromally up two point says if he's game twenty,

and Nazic futures are higher by forty. The US ten yield at three point six eight percent, Gold is down five, oil is trading in the green, and bitcoin is little changed. Japan fell point seven overnight, while up markets are also in the green this morning and back in the US. On the economic front at ten o'clock, existing home sales and consumer confidence after the LS night, Nike sales and gross margins beat estimates, and FedEx profit also topped estimates

regarding earnings this morning. Look for Carnival to report in the pre market. In other news, Electric report that Tessa to implement a hiring freeze and new layoffs and wrapping things up. Breaker was cut to hold well bred Jeffreys live from the first breaking news testom Bill Maloney, care fright, Biel, thank you to here live breaking news over your Bloomberg type squawk on your terminal ascue. You a w K and that's a Bloomberg Business Flash. Now here's Michael Barr

with Moore on what's going on around the world. Michael Karen, thank you very much. The House Ways and Mains Committee voted to release former President Trump's tax information to the public. So far, we have learned that dozens of audit triggers litter Trump's tax returns. According to Congress's top nonpartisan tax lawyers, there are questionable private jet expenses and large, unsubstantiated charitable deductions. Ukrainian President Volodamir z Lenski will be in Washington and

we'll meet with President Biden today. In the NBA, the NIXT beat the Warriors one nine four, the Wizards one, the NHL Rangers Devil's Lost, Big Old Baseball News Carlos Korea has reportedly agreed to sign with the Mets in a twelve year, three fifteen million dollar deal. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven under journalist and analysts more than twenty countries. Michael Barr and this is Bloomberg

careth Marry. Michael Barr, thank you. It is sixty two on Wall Street and let's turn to news now in science and technology with the Bloomberg and j I T STEM Report, and it's brought to you buy New Jersey Institute of Technology and j I T offers New Jersey's first undergraduate degree in fintech tech driven finance focused What will you make at n j I T. Learn more at n J A T DOT E d U slash fintech. You know here's just making news and science, technology, engineering,

and math. Virgin Orbit has been granted a license to launch satellites from the UK, paving the way for the first ever space mission from European soil. Early in the new year, the UK Civil Aviation Authority gave permission to operate from Spaceport Cornwall in southwest England after an official sign off from Transport Secretary Mark Harper. Brazil's government had reassert his global climate credentials by selling a bond where the interested pays creditors hinges on whether the country protects

the Amazon rainforest. That's the proposal gaining momentum among bankers, investors, and researchers who say the nation should follow in the footsteps of Latin American piers Chile and Uruguay by issuing sustainability linked debt and the Reserve Bank of India award that failing to regulate cryptocurrencies could ignite the next financial crisis. The warning comes in light of the global cryptocurrency meltdown that led to billions of dollars being wiped out. And

that's the Bloomberg and J. A. T. Stem report. Nathan, all right, Karen, thank you for coming up to sixty four on Wall Street. It's down time to check what's going on in d C, where this will be a historic day as President's lens give Ukraine comes to Washington, while President Biden offers billions more dollars and Patriot missiles.

Also making news in the nation's capital, former President Trump's tax returns to be released after Democrats voted in that favor in the House, and the Biden administration urging the Supreme Court to allow pandemic border restrictions to end. Bloomber Government reporter Emily Wilkins was one of the reporters who actually broke the news that Zelenski will be coming to Washington, d C. Today, So pleased to say Emily is live

with us now. Emily, good morning. Quite a message that this first trip outside Ukraine for Zelenski is to the nation's capital. I mean absolutely, Nathan, And of course it comes at the time as Congress is preparing to move this major spending bill with funding for Ukraine, and there Joe Biden is also going to unbuild nearly two billion dollars of assistance and announced a move to deliver a Patriot missile battery to help Ukraine folster its defenses this winter.

And it's just showing right now the US is ongoing support of Ukraine. But of course, naedn we have heard lawmakers begin a number of them, particularly on the Republican side, to say that they are concerned about the amount of money that is going to Ukraine, that they think it should be better used to help them Americans. Uh, this is not a majority of Republicans. It is a minority

at this point. But it'll be interesting to see how Zelenski's visit today, what he says, how he employs Congress who potentially set the stage for those future funding battles once Republicans have control of the House. It's interesting ahead of this visit, we're already getting reaction from the Kremlin spokesman Dmitri Peskoff is saying that the delivery in particular that we're expecting of Patriot missiles will only lead to an escalation of the conflict and saying that does not

bode well for Ukraine. Could this visit potentially be a pivot point in the war? I mean, I think it really does remain to be seen exactly what impacts such a visit like this is going to have. It certainly sends a strong message about the US and Ukraine in the relationship between the two and House Speaker Nancy Pelosi, before she officially noticed everyone that this was going to happen, she sent out a message members being like, you should really make sure that you are here in person on

Wednesday night. We're going to have something very special on democracy. And I think that's sort of the implications here the roots that you're going back to the sense that the US, you know, wants to support democracies, will continue to support Ukraine for as long as it takes for this invasion to be completed. And I know you've been following just how the logistics are going about to get Zelensky out of Ukraine into the US. What are you hearing about,

what's allowing this trip even to go forward. I mean, it's definitely a lot of details for this flip trip have been very closely held. It's going to not be a very long trip. We know that, you know he's it was announced yesterday, uh evening, about twenty four hours before he's going to come. And usually when you have something like that, yes, like it's a high security, high risk, many details. And Zelenski he hasn't left Ukraine really since

he began. He's addressed Congress virtually from Ukraine, but he has very much been there. He did tweet that he was on the way to the US to strengthen resilience and defense capabilities and that he and Biden with discuss cooperation between the Ukraine and the US. Now, the other big stories if that weren't enough of a big story in Washington, d C. We're waiting to get the public

release of former President Donald Trump's tax returns. This is something that the former president has literally been fighting for years to avoid. Yes, and Democrats are getting it right. Is there about to lose control of the House to Republicans,

so they had to move on this. Although some Democrats are upset about how long it has taken, but the big music, of course, yesterday Committee voted to release Donald Trump tax information to the public, and the three years saga over this fight UM and where the Committee voted, we are going to see some redactions being made, so the documents aren't going to be coming out right away, but it's going to bring into some questions of several things that Trump has done with his taxes, UM, the

validity of several deductions that Trump has trying to make unsubstantial charitable donations, and of course I think something a lot of folks have been interested in how his businesses are doing and how many taxes did he pay UM, And certainly those are all questions that that people are going to be paying a close attention to. UM. But it'll be interesting to see what Republicans do once they

get into the majority in the House next year. Kevin Brady, who's retiring but is currently the committee's top Republican, said that Democrats are making a mistake releasing the tax returns, and this is a precedent that gives Republicans a lot more room to go after and to look at what

Biden and future Democratic presidents do. All right, So we'll be looking for those fuller details, and of course we'll be watching very closely later on this afternoon when we do expect the arrival first time outside the country for Ukrainian President Vladimir's lenskin. He's going to be spending a few hours today in Washington, d C. Lots for Bloomberg government reporter Emily Wilkins. To keep an eye on Emily.

As always, thank you for the update, and you can read more at Bloomberg dot com or on the Bloomberg terminal. Follow all the latest on Bloomberg Radio in Washington. There could be a lot of details coming out from there on Bloomberg and one oh five point seven FM HD two. Head of the market open futures are pointing to a higher open, with SMP futures up nineteen point, staff futures up two nine and NASDAC futures right now higher by

thirty nine points ten. Your treasury is up one thirty second, the yield three point six seven percent yield on the two year four point to two percent. Nim X screwed higher by one point six percent at seventy seven dollars forty eight cents of barrel, and just taking a look at the end. Now it's slightly weaker against the dollar after the big surge. The Bank of Japan moved training

right now one point eight six. This is Bloomberg Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business at End at Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow. This update brought to you by Innovation and Refunds. Your business may be eligible to receive a payroll tax refund.

The application takes around eight minutes eight minutes or less to see if you're small to medium sized business may be eligible for a refund of up to twenty six thou dollars per employee kept on the payroll during the pandemic. Find out at get refunds dot com. Watching shares a Nike this morning, there have more than twelve and a half percent after it posted another quarter of inventory build up, but quarterly sales exceeded. While street estimates, futures are higher.

SMP futures have eighteen points or half percent, DAL futures up two dy nine points or seven tenths of uppercent NASDACK futures have thirty five points or three tents of uppercent and the tenure treasury that will change at three point six eight percent, and they yield on the two year four point to three percent. And that's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much.

A House committee voted to release former President Trump's tax returns to the public. So far, we have learned of dozens of audit triggers. According to Congress's top nonpartisan tax lawyers, there are questionable private jet expenses and large, unsubstantiated charitable deductions. Ukrainian President Voladimir z Lensky heads to Washington for his summit with President Joe Biden to address Congress today. In the NBA, the next beat the Warriors one thirty two

ninety four. The Wizards won in the NHL, the Rangers and Devils lost. In baseball, Carlos Corea has reportedly signed with the Mets in the twelve year, three hundred fifteen million dollar deal. Global News twenty four hours a day on here and on Bloomberg quick Take, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. I'm Michaelabar. This is Bloomberg, NA. Thanks Michael. At six twenty three on Wall Street. I'm Nathan Hagar.

This is Bloomberg Daybreak on what will be a historic day in the nation's capital with President Vlada Merrit Zelensky of Ukraine heading to Washington. I want to get more now on this. We're joined live by Lindsay Newman. She's the executive director of Economics and Country Risk at SMP

Global Market Intelligence. Lindsay, good morning. This visit is going to be dramatic, I'm sure, only for a few hours in the nation's capital, and it's coming at a time when the support for Ukraine, particularly from Congress, maybe a little bit shaky. Is that part of the reason why President Zelenski is making this trip. Good morning, Nathan, and thank you for having me on. I couldn't agree more that this is a historic moment. We we really cannot

overstate the significance of this trip. We've all seen and heard. Of course President Zelinsky make addresses before the UN Security Council, of the European Parliament and even US Congress, but today he will actually be there in person. It's the first time he will have less physically less Ukraine since Russia invaded on the death We've now just crossed through the day mark into the conflict, and that's really what the trip is about. It's ensuring that the US and Ukraine

remain united. That's what Biden's message will be. The Lensky's message is of course going to be about resources and and support. So unity but in the form of resources and support. And we're hearing anything that this comes with Biden's expecting to announce an additional two billion insecurity assistance to Ukraine during the visit itself. What what's the level of support that you're forecasting from the US for Ukraine going forward when we do have a new Congress coming in,

a new Republican majority in the House of Representatives. Biden's message has been that America will be there for Ukraine for as long as it as long as it takes. This is what they this is what the White House was saying just yesterday, and it's pre meeting notes. So from the top, the ambition, the intention is to remain committed to Ukraine's as long as it takes. There is a sense from the administration that this remains a bipartisan support. Sure.

Right before the election, we saw, for example, um, some some Republicans suggesting that they could rethink funding for for Ukraine should they win Congress, that win in both the House and then and of course we know where the

election lands. But since then there has been this committed commitment, this commitment to bipartisan support, and we have of course the funding bill, the omnibus bill that was proposed UM and released revealed yesterday, which would include forty five billion and an additional aid for Ukraine and Bernato as part of the one point six five spending utrillion spending bill for fiscal Of course, that will require bipartisan support, which

remains to be seen. UM. And we are in the moment of the Lane Duck session, just about thirty seconds left here, lindsay, could the delivery of Patriot missile, something that the Ukrainian president has been asking for for mon be a pivot point in this war. It's a it's a great question, I mean, V. Lindsey has been asking for this, and now we are hearing that, in fact the Biden administration is going to deliver on on those

on those Patriot missiles. They will come with training, and the US remained committed to increasing the training four troops who are going to need to be able to deploy and use that mental Thank you, Lindsey, good having you on with us this morning. Lindsay Newman, Executive director of Economics and Country Risk at SMP Global Market Intelligence. Again, we are expecting President Zelensky of Ukraine to arrive in

Washington this afternoon. Stay with Bloomberg Radio for frequent updates and full coverage of the Ukrainian president's day in the nation's capital. Now, let's get a look at the Bloomberg Weather forecast. I pressures in control of weather across the Tristate area. Today, We'll have partial sunshine in the b forty will clad up tonight THTT five. Big storm to our west sends rain our way. Tomorrow after noon it'll be breezy, fifty to fifty five, rain heavy at times,

wendy Tomorrow night alow a fifty. The rain ends Friday afternoon, windyhisner fifty five. Temperatures fall through the afternoon Friday, then cold for the Christmas weekend. I'm Rob Caroline with your three day forecast on Bloomberg eleven three oh broadcasting live

from the Bloomberg Interactive Broker studio in New York. Bloomberg even freed to Washington, d C. Bloomberg on to Boston Bloomberg one oh six, one, to San Francisco, Bloomberg nine sixty to the country Sirius XM chad A one nineteen and around the globe the Bloomberg Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. Now we're coming up to six thirty on Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow. We are just about

three hours away from the open of US trading. Time for the five things you need to notice our your day brought to you by I v k R Investment Advisers switched to Interactive Brokers for lowest cost global trading 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 Ukrainian President, Vladimir's A. Lensky, is leaving Ukraine for the first time since Russia's invasion

to address Congress in person in the nation's capital. Bloomberg Government reporter Jack Fitzpatrick says it's a big moment in the debate over aid to the country. There have been some questions about really where House Republicans come down in

the firmness of their support for Ukraine. To have a joint addressed to Congress and in person addressed especially, would be a very significant moment at a pivotal time, because these kinds of agreements are going to be a bit more difficult when it's a Republican House and a Democratic Senate. Bloomberg Government's Jack Fitzpatrick reports at President Biden plans to

announce two billion dollars in assistance to Ukraine. The meantime, Karen a House committee has voted to officially release former President Donald Trump's tax information to the public. The actual returns will come out of a few days. The analysis so far shows Trump used questionable deductions and aggressive tax

strategies to minimize his bills. On Outo Elon Musk Nathan, the head of Twitter, says he'll step down as CEO when a replacement is found, and this comes as the FTC deepens its investigation into Twitter's use of user data. And there's more news from another Musk company, Karen Electric Vehicle website Electric tweeted this morning that Tesla is implementing a hiring freeze and a new round of layoffs, and the extradition of Sam Bankman, freed from the Bahamas is

picking up steam. Nathan, the FDx co founder, could be making his way a state side today Bloomberg Steve Rappaport joins US Live with more. Steve, good morning, Good morning Karen and Nathan. FBI agents are expected to escort Sam Bankman freed on a private flight back to the US after he signs a waiver of extradition in court. Yesterday, Bankman Freed signed his surrender documents, paving the wake of

the disgraced ft X founder to return. SPF has been held at the notorious Fox Hill Prison on the outskirts of Nassaustin's. The judge denied his request for bail. The possibility of making b here reportedly played a role in his decision to no longer contest extradition. Live in New York, I'm Steve Rappaport, Bloomberg Daybreak. All right, Steve. Thanks. As for markets, European stocks are advancing along with US futures.

Yesterday I saw the SNP five clothes higher for the first time in four sessions, and the end is studying against the dollar after this week's move from the bank in Japan. Right now the Japanese currency is at one thirty one point nine four against the dollar. And that's the five things you need to notice start your day. Brought to you by Interactive Brokers. And again, futures are on the rise this morning. SMP futures up about eighteen

points or half percent. DAL futures have two hundred twenty seven points or seven tenths of a percent, and NASDAG futures have thirty five points or three tenths of a percent. Straight ahead, we have your latest to local headlines, plus a check of sports. And this is Bloomberg. Thank you, Karen six thirty one on Wall Street. And Michael bar is here with war on what's going on in New York and around the world. What do my call? Morning, Nathan.

New York City police are investigating an apparent accident that happened in the subway in Manhattan. Authorities say the victims of forty four year old man and a sixty three year old woman had been hit by an L train but the conductors of two subsequent trains did not notice the victims and also struck them. This woman was at the Sixth Avenue stop. New Yorkers were tough. We don't care a lot about but it's like sometimes, you know, it takes a little time just to like pay attention

to something. Officials don't believe the victims were connected, and mt A agent shot a man who was following him and his work partner to a Brooklyn subway station last night. According to ABC seven, it's believed the on duty agent was guarding his partner, who was removing money from a machine at the Atlantic Avenue Barclay Center station when the

incident occurred. A last minute plea from New York City Mayor Eric Adams as holiday travelers continued to arrive, even as flu, RSV and COVID cases continued to rise nationwide

this year, particularly around the flu. From the from the briefing we receive, the numbers are higher than this traditionally is around this year, and when you combine it with the other elements that we're facing, the other rs VS, COVID nineteen and just make it extremely challenging for New York Mayor Adams encourages people to mask up and crowded places. The Taliban has renegged on a promise they made when

they took over Afghanistan in August of last year. They now say women will no longer be allowed to attend public or private universities. The State Department's ned price. The Taliban made promises to the people of Afghanistan and to the international community that schools would reopen. They claimed that this was a matter of procedures and arrangements and would

be quickly reversed. Now we hear the opposite Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven journalists and analysts more than a d twenty countries. Michael bar this is Bloomberg, Nathan, Thanks Michael. Six thirty three on Wall Street time for the Bloomberg Sports out Day. Brozili Trice

stayed out here again is Sean sta Thanks Nathan. To think that the Mets under previous ownership were always considered to be cheap, not anymore, And I was Steve Cohen. They were already looking at a payroll of about three hundred and sixty million dollars. They had shelled out a ton of money this offseason, keeping free agents Edwin Diez and Brandon Nimo, adding Justin Verlander and five others, and

now they're adding Carlos Korea. He is not going to the Giants, as had been announced last week in apparent dispute over Korea's physical There was a prescott fence scheduled in San Francisco yesterday it got canceled. Coreas coming to the Mets twelve years, three hundred and fifteen millions. Close friends with Mets, George stop Francisco. The door the plane is to move to Korea at the third base. It's kind of like what the Yankees did back in the

day with Alex Rodriguez. Matt Carpenter had some Yankee heroics this past season. He signed with San Diego. Forty two year old billionaire Matt Eshiba has a deal to buy the Phoenix Suns had the w NBA Mercury for four or billion dollars at the Garden next made at eight wins in a row, easily over Golden State one thirty two to ninety four. Emmanuel quickly off the bench for a team I twenty two points. Jalen Brunson scored twenty one Grimes nineteen r J. Barrett eighteen. Other home game

tonight against Toronto Rangers. Seven game win streak ended in Pittsburgh three to two. Chris Cryer both the Ranger goals. The Slumpy Devils lost to Carolina four to one. Seaton Hall lost a Xavier Mike White injured ribs will keep him out Tomorrow MetLife against Jacksonville, so it'll again be Zack Wilson as the Jets quarterback. Big Game Saturday, Philadelphia, Dallas and the Eagles are not ruling out gb Jalen Hurts despite his injured shoulders. Johns Dashower, Bloomberg Sports Nathan

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 Outie Offers dot com for more information 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 story He's heard on our three hundred

affiliate radio stations. Around the world. Um Courtney Donaho on wh S and Wullsville pricing priests helping FedEx deal with the Define and package volumes. I'm Stephen Carol and Bloomberg DAB Radio and London. We've been reporting on Ukraine's president heading to Washington for his first trip outside the country since the Russian invasion began. I'm Steve Podas Scott a m X in Los Angeles. We're talking about a report that Netflix maybe next on Microsoft's takeover Radar, I mean

Cory on w w J in Detroit. I'm reporting General Motors was recalling about one thousand Chevy boll And. Those are some of the stories our hundred Bloomberg journalists and analyst are working on this morning, around the world at six thirty six on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by the

Bloomberg Editorial Board. This week, the House committee investigating the January six riot referred former President Donald Trump for criminal prosecution. It was an unsurprising move, but lamentable. Nonetheless, there's no question that the committee, made up of seven Democrats and two Republicans, found evidence that Trump behaved abominably that day. By any standard, his actions were in affront to the Constitution and to the rule of law. Yet whether they

merit criminal prosecution is another matter. The referral risks elevating Trump in the eyes of Republican voters and a moment when many seem prepared to cast him aside. The House Committee has done an admirable job of documenting Trump's reprehensible conduct on January six. The faster the country can put those sordid events in the past, the better. This editorial was written by the Bloomberg Editorial Board. For more Bloomberg opinion, please go to Bloomberg dot com, slash Opinion or 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. Watching shares of Nike this warning they are on the rise after the retail giant reported robust sales and a sustained inventory Pollo. That's

that very well with investors. NIKEE shares are hired by almost percent in early trading, and a Google's YouTube is an advanced talks with the NFL about an exclusive deal for its Sunday ticket subscription service. That's according to a report in The Wall Street Journal today. A separate report stay negotiations for Sunday football games came down to Amazon and YouTube. Of course, Amazon has already got the rights

to the Thursday night games. Now looks like YouTube is gonna get the shot to snag Sundays and give sports fans yet one more reason to cut the cord. SFP futures are higher by nineteen points, staff futures of two or forty three, nastack futures higher by thirty seven points. You're listening to Bloomberg Daybreak live from the Bloomberg Interactive Burger Studios. This is Bloomberg day Break for Wednesday, December

twenty one. Coming up this hour. Ukraine's resident heads to Washington in his first trip outside the country since Russia's invasion, votes to release former President Trump's tax returns, Sam Bankman freed readys for extradition to the US, and Elon Musk seeks a replacement as Twitter CEO. The NYPD says two people are dead in an apparent subway accident, plus New York Mayor Adams has spread the love, not the virus during the holidays. I'm Michael Blarer More, I'm John stash

Howard sports donning baseball news. Carlos Garreya changed his mind. He's stunning with the Mets. The next one the Rangers, and Devil's Law. That's all s train ahead on Bloomberg Daybreak on Bloomberg eleven Free on New York Bloomberg one, Washington d C, Bloomberg one oh six one, Boston Bloomberg nine sixties and Francisco Sirius x M one nineteen and around the world on Bloomberg Radio dot com and via

the Bloomberg Business App. Good morning, I'm Nathan Hagart and I'm or in Moscow and US not Index futures are higher this morning. We check the markets all day long here at Bloomberg, with SNP futures up about nineteen points or half percent of futures up two D nineteen or seven tenths of upper set, and ASTACK futures of forty

two or four tenths of upper set. DAX in Germany's up six tenths of upper cent and the tend your treasury little change Yell three point six eight percent, they yield on the two years at four point to three percent, and Nimex screwed oil is up nine tenths percent at seventy six dollars five cents of barrel. Nathan, all right, Karen, we'll get back to markets in a moment, but we

begin with a couple of major stories in politics. First, Ukrainian President Voladimir z Lensky is leaving Ukraine for the first time since Russia's invasion. He'll address Congress in person in the nation's capital. Bloomberg Government reporter Jack Fitzpatrick says it is a big moment in the debate over aid to the war torn country. It's the big deal. There have been some questions about really where House Republicans come

down in the firmness of their support for Ukraine. To have a joy addressed to Congress and in person addressed especially, would be a very significant moment at a pivotal time, because these kinds of agreements are going to be a bit more difficult when it's a Republican House and a Democratic Senate. So any sort of show of unity with

him there would be a very significant thing. The Bloomberg government's Jack Fitzpatrick reports President Biden will also announce an additional two billion dollars in assistance and moves to deliver Patriot missile batteries to Ukraine. Meantime, Nathan Donald Trump's tax returns are back in focus. A House committee is voted to officially release the former president's tax information to the public, and Bloomberg's Amy Morris says the details from our studios

in Washington. The Houseways and Means Committee signed off on a motion to release Trump's tax returns to the House of Representatives. Chairman Richard Neil says personal information will be redacted. This was not about being punitive, it was not about being malicious, and there were no leaks from the committee.

The analysis found Trump was able to use questionable deductions and aggressive tax strategies to minimize his tax bills, and that the I r S did not audit Trump for two years while he was in office, despite a program that makes the auditing of sitting president's mandatory. Republicans say releasing the information sets a dangerous precedent in Washington. I'm anymore as Bloomberg Daybreak, right, Amy, thank you. Now, let's turned to Elon Musk and the latest in his sanka

as head of Twitter. Musk now says he will step down a CEO and a replacement is found, Bloomberg said, backs to reports. This comes as the FTC deepens its investigation into Twitter's use of user data. The Federal Trade Commission has interviewed two former senior executives of Twitter already regarding privacy and data security. Now practices is the issue, and whether it's complying with a twenty eleven consent order. Since Ellen Musk has taken over, the FTC has shown

it as not afraid to levy hefty fines. It did find Facebook a record five billion dollars over the Cambridge Analytica data scandal. This can't be welcome news from Musk, who has fired many of his oversight team and attorneys. Musk, by the way, says he will oversee of the software and servers teams in San Francisco. I'm at Baxter Bloomberg daybreak right and thanks well. As a turmoil at Twitter continues, Tesla shares are declining and ARC Investment CEO Cathy Wood

is scooping them up. Exchange traded funds backed by ARC bought slightly more than four D forty five thousand shares of the company since early October. This is the first quarter in seven at Arc has been a net buyer of Tesla and right Now shares her up two percent

in early trading. Returning from Crypto Now from Twitter Now to Crypto Karen, Let's get the latest on Sam Bankman Free, the f t X co founder, could be making his way stateside from the Bahamas as soon as today, and Bloomberg Steve Rappaport joins US Live with that Good morning, Steve, Good morning, Nathan and Karen. SPF is halfway through the process of returning to the US, having signed his surrender documents.

According to the Islands Acting Commissioner of Corrections, today Bankman Freed will sign a waiver of extradition before FBI agents are expected to take him away on a private flight. Bankman Freed initially vowed to fight extradition to the US to face fraud and other charges related to the collapse of his crypto firm. The change of heart tied in

part to the possibility of getting released on bail. Here Live in New York Time Steve Rapp Report, Bloomberg Day Break All right, Steve, Thanks so taking a look at markets now. European shares are advancing alongside US stock index futures. Yesterday saw the S and P five hundred clothes higher for the first time in four sessions. Equities have been on a recent sched due to concerns of our central bank tightening. Yeah. Speaking of central banks, Karen, this week's

move from the Bank of Japan continues to reverberate. The end is steady this morning after yesterday's strong move, which saw the currency strengthen the most since. Takeing a look at the end right now, it's at one one point seven six against the dollar. Bloomberg Opinion columnists muhammadhil Arian says the BOJ move provides some stability, but also carries risk. This is the spectables normalization. The good news for them

is I think that can control the process. That's actually good news for global markets because it doesn'tenforce selling by Japanese institutions. However, over time even this approach becomes unsustainable. Bloomberg Opinion colum miss muhammadal Arean expects a slow exit from what he calls the b o J is unsustainable policy regime. Let's sturn to China. Now, Nathan has continued pivot away from COVID zero policy. Chinese workers of mild COVID are now being told to go back to work

in some cities. This is Chinese officials seek to limit the economic impact of an explosion in cases Beijing. Shift from COVID zero has been accompanied by a wave of infections in major urban centers across the country. Again, futures are on the rise this morning. S and P futures up about twenty points or half percent. OW futures up two D twenty nine points or seven tenths of a percent. NASAC futures up forty seven points or four tenths of a percent. The euro one point six one seven against

the dollar. This morning, and straight ahead, we have your latest local headlines, plus a check of sports, and this is Bloomberg. Thank you. Karen At six oh seven on Wall Street. We're twenty eight degrees in Central Park. Going to be sunny again today with a high near forty, but get ready for some heavy rain to and the week. Now's bringing Michael Barr with more on what's going on in New York and around the world. Good morning, Michael,

Good morning Nathan. NYPD officials are investigating an apparent deadly accident that took place in the subway in Manhattan. Two people were run over by several l trains yesterday. The victims were a forty four year old man and a sixty three year old woman. It left several horrified commuters in their wake. This woman saw the bodies at the sixth Avenue stop at the time. I told some guy that was waiting for the chain across to me, I'll

make this too. Their bodies on there. He was like, you're kidding, and I said, no, Look, you're stepping in blood. Officials are still investigating how the bodies ended up on the tracks, but say they don't believe the victims were connected and their deaths don't appear to be a crime.

A last minute plea from New York City Mayor Eric Adams as holiday travelers continue to arrive, even as flu RSV and COVID nineteen cases continue to rise nationwide, Adams encouraged New Yorkers to remain vigil One of the risks of these respiratory infections now under winter. How do we enjoy the holidays and spread love without spread into virus and we could have that combination. Mayor Adams encourages New Yorkers to be sure they test before gatherings and consider

masking up and crowded places. A winter storm is sitting the nation at the height of holiday travel. Bloomberg meteorologist Rob Caroline as the latest Michael some of the coldest weather we've seen in forty years now starting to work its way into the northern Plain States. Temperatures from northern Montana into North Dakota are well below zero this morning.

That air is going to be headed southward. It's gonna move down towards the Gulf of Mexico, affect Texas and much of the century United States by the end of the week, and will also affect the western Gulf Coast. Out ahead of this cold there, over the next thirty six hours, we'll see a big storm develop. It will

go up through the central Great Lakes. That's going to produce a very significant snowstorm across parts of the central United States, with blizzard conditions possible around the Chicago Millwalk areas, also across western Michigan. It's gonna cause quite a bit of rain and wind. Out ahead of the storm, will see that effect portions of the mid Atlantic States in the Northeast as we head through Friday, so travel will be very difficult in the Northeast and Midwest on Friday.

Michael rob Thank you, sir. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalist and analysts more than twenty countries. Michael bar this is Bloomberg Naked. Thank you, Michael six o nine on Wall Street Time for the Bloomberg Sports Update, brought to you by tri State out of her John Stotshow. All right, Nathan, the amazing Mets.

Just when you thought their free agent spending spree was over, came the stunning news earlier this morning that the Mets are now at in Carlos, Korea. He had agreed last week to a thirteen year deal with the San Francisco Giants. A press conference was to take place yesterday at got Post. Bote reportedly difference of opinion about the result of Korea is physical. The Mets swooped in, got him for twelve years,

three hundred and fifteen million. He's always been a short stop, but plan is to move Kara at the third base. The Mets have now guaranteed eight hundred million dollars just in free agents spending this offseason. Justin Verlander will make forty three million a year. He was at City Field and talk about coming to New York. They lived in New York for an off season. UM. I love the vibe here, I love the city, I love the people.

And to have the opportunity to to come pitch in the city, Um is something that I think I've I've always wanted the chance to do. Aaron Judge press conferences today in the Bronx. Will we invest to see if the Yankees announced that Judge will become the team captain. At the Guarden blowout win for the Knicks over injury Riddle Golden Stain one thirty two to ninety four, and the Knicks and one eight in a row, and they

host Toronto tonight. The Warriors played tonight in Brooklyn. The Rangers were going for an eighth grade win and Chris Cryder scored twenty two seconds in but Pittsburgh one three to two. The Devils, who were earlier this season had a thirteen game win its dread and now lost their last six Seaton Mike Carolina four to one. Seaton Hall lost at Xavier. Also in the Big East, Yukon beat Georgetown. The Huskins are thirteen and oh their number two in

the country. The Jets hoast Jacksonville tomorrow and Zach Wilson will again be the Jets starting quarterback that is still injured Mike white Stack. When Bloomberg Sports, Thank you John, and 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 try state autie dealer to get behind the wheel of yours today, or visit

autie offers dot com for more information. Up next, we'll get the latest on President Zelenski's trip to Washington, d C. First SMP futures are on the rise this morning by twenty points. Staff futures have tuned to thirty nine. NASDAC futures are higher by forty eight points now. The tenure Treasury is little changed, yield three point six seven percent,

two year yield four point to three percent. Looking at the long bond, that's little changed as well, at three point seven three Live from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on Sirius Examp, the Bloomberg business appened. Bloomberg dot Com. This is Bloomberg Daybreak. Morning up, Nathan Hagar. We are following a couple of major stories out of the nation's

capital this afternoon. We are expecting the arrival of Ukrainian President Voladimir z Lensky in Washington, d C. At a pivotal moment in Russia's war with his country. Plus, after a year's long fight, House Democrats have voted to release former President Donald Trump's tax returns. Let's get more on these stories now. Bloomberg's Bruce Einhorn is following both of

them for us this morning. Bruce, Good morning. It was quite a stunning moment when we learned overnight that President Zelenski would be making his first trip outside the country to the United States. I have to imagine just the logistics of getting President Zolensky out of his country and into the US or nothing short of remarkable. Yeah, and it's going to be a very short trip too. So we we know that President Zolinsky will be arriving in at the White House UH and meeting President Biden at

two o'clock this afternoon. He'll be meeting with members of the Cabinet as well as the President's and atal security team. There's gonna be a press conference at four thirty, and then there's going to be a speech by President Zlinsky to a joint session of Congress. UM. He has given a speech to Congress before. He gave a virtual one early this year, UM, just a few weeks after the

Russians began their invasion of Ukraine this year. UH, this of course is going to be in person, a lot of a lot of pomp and UH quite a lot of symbolism. UH. He'll have a chance to UH lobby in person, UM make direct appeals. First additional aid to Ukraine. UH. Congress is poised to approve forty five billion dollars in new aid for Ukraine. That's part of the omnibus spending bill that Congress is likely to pass in the next

few days. President Biden is also going to be announcing additional assistance for Ukraine today, including UH Patrion air defense system, something that Ukraine really wants UH, given the persistent attacks by Russian missiles by Russian drones against civilian targets against the energy grid, against Ukrainian infrastructure. Uh. So the Ukrainians field that having the Patriot Air Defense System could really make a big difference there. Yeah, so a lot more

aid coming to Ukraine. And to your point, that first address that the President Zelinski gave virtually to Congress early in the war came at a time when there seemed to have been a lot more unanimity, a lot more by partisanship around the idea of providing weapons and humanitarian support to Ukraine. It feels as though now when we have a new Congress coming in, a new Republican majority in the House, that unanimity might be fraying somewhat. You're

you're right there. There are some members of the incoming Republican majority who have been been pretty outspoken criticism of Ukraine, most notably Marjorie Taylor Green, the congressman from Georgia. She has just now called Zelinski um the shadow president of the US and referred to Ukraine as the fifty first state. Um. Uh. You've also seen comments from Kevin McCarthy um, the the Republican leader in the House who is hoping to become the speaker. Uh. In the next session. Uh, he's avowed

no more blank checks for Ukraine. That said, Uh, there have been supportive comments from Mitch McConnell, the Republican leader in the Senate. UM, and it does seem that there is still strong bipartisan support for Ukraine, albeit with some notable exceptions. The other big development, of course in Washington is the House Ways and Means Committee, Democrats in particular,

voting to release former President Donald Trump's tax returns. Of course, this is something the former president had been fighting for years. Is from what's been released so far, Bruce, what stands out to you? So you're right. This is a saga that has been going on since two thousand and nineteen. Former President Trump fought it in the courts. UM. Almost ran out the clock here. But UM, just shortly before the Democrats lose control of the House, they they not

only have the returns, but they have voted to release them. Um. They haven't released them yet. There's still some redactions that need to be done. UM. What we have heard so far is about the report from the Joint Committee on

Taxation that's Congress's group of nonpartisan tax lawyers. UM. And that report highlights items in the tax returns while Trump was president, while Trump was in the White House that they said should have been red flags for auditors to look more UH, to look more carefully at the at at the returns to UM, to apply more scrutiny. UM. Richard Neil, the chairman of the Way the Means Committee,

has said that there wasn't enough work done. That the audits which are required by the RS for presidents and vice presidents were perfunctory at best. UM. And he's now introduced He says he's going to introduce a bill that would require the RS to to do their audits within ninety days. Of course, there's almost no time left in

this Congress, so that probably isn't gonna go anywhere. UM. Kevin Brady, the top Republican on the committee, did warn that what the Democrats have done sets a dangerous precedent UH, and Republicans are going to be in charge in just a few weeks, so it's part Bruce, we gotta leave it there for now. Bruce Einhorner Bloomberg News with us giving us all the latest from the nation's capital. Stay with us for more as futures move higher. This is Bloomberg