Bloomberg Daybreak: December 22, 2022 - Hour 1 (Radio)

he defends his record on crime plus. The man Charred Wood shooting up a Brooklyn subway car will now lead guilty on Michael barn Or Ahead, I'm John dash Our. In sports, the Knicks Winspy came to an end, easy win for the Nets. The Devil's One in the Jets

host Jacksonville Tonight. That's Alls Training Ahead on Bloomberg day Break on Bloomberg eleven three on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Syrius x M one nine Team and around the World Old on Bloomberg Radio Dot Carmen via the Bloomberg Business app. Good morning, I'm Nathan Hagard and I'm Karen Moscow and US Dock index futures are little change this morning, and we checked the markets all day long

year on Bloomberg SNP futures again little change. So were in NAZDAC and Dow futures tenure Treasury up stix thirty seconds. He on three point six three percent of the yield on the two year four point one nine Nathan, Karen. We'll get more on markets in a moment, but begin We begin this morning with a historic night in Washington. The President of Ukraine, Voladimir Zelenski, made an emotional address

in person to a joint meeting of Congress. We get the story from Bloomberg's at Baxter standing ovation after standing ovation from both sides of the aisle. The message Ukraine is alive and kicking and thanking US families for their support. And now what people will have to go to boom shelters on Christmas Eve, Ukrainias will still sit down at the quality table and cheer up each other. Zelenski says a free world will show all potential aggressors that the

world will stand up to tyranny. He says next year will be a turning point of the war. He presented Congress with a flag from the war's front in San Francisco. I'm at bachetor Bloomberg daybreak, all right, ed, thank you know. This was President Zelenski's first trip outside his country since Russia's invasion back in February. Before the speech, the president paid a visit to the White House, where President Biden stood alongside Zelenski at a joint news conference to pledge

his continued support. I want you to know that all the people who Ukraine to know as well the American people were with you every step of the way, and we will stay with you. We will stay with you for as long as it takes. And the Biden administration also announced nearly one point nine billion dollars in additional military aid to Ukraine, including a Patriot missile battery. Russian President Vladimir Putin meanwhile said Russia has no limitations on

its own military spending to continue the war. Well, Nathan, We're following another story at d C this morning. A group of House Republicans has released a counter report to the House Select Committee's investigation into the January six Capital assault. The seventy eight page report partly blames Democratic leaders for security failures and says intelligence and law enforcement failures left the Capital complex vulnerable. The January six committee is expected

to release it's full report today. All right, let's turn from the Capital to Crypto. Kareny hit the latest on the ft X collapse. Two top executives have pleaded guilty to criminal charges. As the former CEO of f t X, Sam Bankman Freed, returns to the US, Bloomberg Steve Rappaport joins US Live with that story. Good morning, Steve, Good morning, Nathan and Karen. Spf found himself with fewer friends upon arriving in New York last night, as Caroline Ellison and

Gary Wang pled guilty to fraud. The plea agreements say prosecutors will recommend reduced sentences if they provide substantial assistance to the investigation. The move puts pressure on Bankman Freed ahead of his appearance in federal court today on charges of fraud, money laundering, another counts. His lawyers may seek bail. Live in New York, I'm Steve Rappaport, Bloomberg Daybreak, right, Steve, Thank you have it. Pivot away from COVID to zero

continues in China. This morning, we're learning China plans to cut quarantine requirements for overseas travelers in January. Sources tell US officials are considering a zero plus three policy that would mean tourists would no longer be required to spend time in a quarantine hotel or isolation facility, and arrivals into the country instead or subject to three days of monitoring.

All right, let's take a look at markets now. Karen futures are little changed this morning, but global stocks did advance for a third day yesterday as we edge closer to the Christmas holiday. US shares climbed on improved consumer confidence and better than expected earnings from FedEx and Nike. Earlier this week, markets snapped a four day slide sparked

by hawkish central bank rhetoric. In Asia, Nathan stocks have snapped a losing streak of their own, coming off the Bank of japan surprise policy move earlier this week, and Bloomberg's Brian Curtis joins US from Hong Kong with more stocks rallied in Asia, snapping five days of declines The biggest moves were in Hong Kong, where the benchmark index rose about two and a half percent. Property companies led the way after regulators said they'd support the sector's growth.

Shares also jumped in Japan, South Korea and Australia. Trasuries rose slightly in Asia as the fallout from the Bank of japan surprise policy shift began to ebb the en resumed its advance. Brian Curtis Bloomberg Day Break, All Right, Brian, thanks Meanwhile over in Europe, UK household southern living standards fall amid a contraction in the third quarter. Bloomberg's You and Potts joins us live from London with that good

morning and good morning, Nathan and Karen. Household incomes in the UK have fallen for a fourth straight quarter, leaving Britain's on course for the worst period for living standards in memory. Real incomes behead were three point one percent lower in the third quarter from a year earlier. Final GDP day to meanwhile registered a no point three percent drop in the latest quarter, more than previously estimated. The reading is consistent with the quantum expectations that the UK

is already in recession. In London, Immune Paul daybreak, all right, you and thank you, while taking a look at corporate news. Now, America's largest memory chip maker, Micron Technology, is out with a lackluster revenue outlook and a warning that it will have to trim its work force. S. Bloomberg's Dot Prisner joins us with that story. The company is already pledged to reduce output in slow expansion projects as a way

of limiting the availability of memory chips. Even so, Micron's forecast indicates the glut may drag on given a slump in demand. Sales will be about eighty million dollars below forecast, and Micron is projecting a loss of about sixty two cents to share excluding certain items. That's more than twice what analysts were estimating. Given these challenges, Micron will reduce its workforce by about ten percent over the next year. In New York, I'm Doug Prisoner Bloomberg Daybreak, All right, Doug,

thank you again. Futures this morning or little chain straight ahead, your latest local headlines plus a check of sports, and this is Bloomberg, Right, Karen, thank you. Thirty five degrees in Central Park. It's gonna turn rainy and windy this afternoon and into tomorrow. Highs today in the upper forties, and temperatures will rise through the night as a wind

advisory kicks in. Attend this evening time me take a look at some of the other stories making news in New York and around the world with bloomberg S Michael bar Good morning, Michael, Good morning, Nathan. And as you mentioned, that's the problem. Millions of Americans taking to the roads and skies before Christmas could face big trouble getting to their destinations on time because of a massive winter storm. Several major hubs, including New York City, are all in

the path of the storm and face significant disruptions. This man was headed to Orlando from New York, trying to get out ahead of the storm to see his family. We're gonna be ready for a long time. He should have been California before. We're gonna night again Christmas. It's not just flights being canceled. A rack has scraps service for dozens of routes. New York City Mayor Eric Adams defended his record on crime, giving himself a B plus.

In his first year in office, there was a rise in major felonies through December, but Adams says through the top line numbers, they do not tell the whole story, as we highlighted double digit drops in the high profile murders and shootings. Public safety is the foundation of the city. I've used this term over and over again. It's the prerequisite to prosperity. Without it, we won't feel the safety

we deserved. Mayor Adams went on to say that New Yorkers should feel better about the direction we are headed. A New York City court has scheduled a change of plea hearing for next month for the man accused of opening fire on a Manhattan bound subway train last April. In a letter to the court, his attorney said the alleged New York City subway shooter, Frank James, wants to plead guilty to federal terrorism charges. James was sharp with several counts of committing a terror attack on a mass

transit system. Ten people were hurt in the shooting. Final CDC data confirms American life expectancy fell for a second straight year in twenty twenty one, the worst since it's driven by accelerating COVID and drug overdose DUTs for the men, it has dropped from seventy four point two years to seventy three point five years. For women, it's from seventy

nine point nine to seventy nine point three. 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 barn this is Bloomberg, Nathan.

Thanks Michael. Time now for our Bloomberg Sports update, brought to you if I try stayed out em Morney John Stanshower in the morning, Nathan, one winning streak ended, another continued At the Garden, Nicks couldn't stop Toronto's Pascal Siakaman poured in fifty two points the Raptors, and in their six game losing streak one thirteen one on six, Julius Randall R. J. Barrett both had thirty points with the Knicks,

who had won their previous eight. In Brooklyn, the Nets win streak up to seven one forty three to one thirteen over struggling Golden State. The Nets led one fifty one at halftime, ninety one first half points, third most in NBA history. The Devil's three goals third period to win four two at Florida. That ends there six games slide. St. John's lost at Villanova's seventy eight to sixty three. If the Jets have any hopes of making the playoffs, they have to win tonight in the rain at Met Life.

Jacksonville comes in much improved, led by quarterback Trevor Lawrence. They're only a game out of first in the a s C South. The Jets are came out for making it as a wild card. Four members of the Jets defense named as Pro Bowlers. They still named the rosters even though they're no longer a Pro Bowl game. Quentin Williams, C. J. Mosley, Justin Hardy and Sauce Gardner is the first Jet rookie Pro Bowlers since eight. Tae Kwon Barkley and Dexter Lawrence

named from the Giants. Philadelphia has eight Pro Bowlers. Dallas in Kansas City had seven. When you saw that Derek Jeter was in attendance that the Aaron Judge New Contract press conference, you knew there would be an announcement that Judge would be the first Yankee captain since Jeter. I'm gonna continue to try to be you know, the same

leader that I've been in the past six years. Continue to lead by example, and I know there's probably gonna be a couple of more responsibilities with this, but you know I'm here to embrace every single obstacle and you know, continue to lead this team and lead the city to to not one of them, you know, multiple championships down the road. Six Captain and Yankee District. Bomberg All right, John, thank you. Boomberg Sports was brought to you by Audie.

Don't let someone else drive off in the outie model. You've always wanted to visit your local price state autie dealer to get behind the wheel of yours today, or visit autie Offers dot com for more information. We get more reaction to President Zelenski's visit to Washington. Next first futures of taking a leg a little change now giving up the game's SMP futures right now are down by

one point. Live from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on Sirius Examp, the Bloomberg Business App, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's get back to our top story this morning. It was a dramatic night on Capitol Hill Ukrainian President Voladimir Zelinski urging lawmakers in the US to keep up their support for his country in person before a joint meeting of

Congress against all and doom and gloom scenarious. Yukraine didn't fall. Yugrain is alive and keating. And we're joined now by Terry Haines, the founder of Pangaea Policy. Terry, quite a moment on Capitol Hill last night, your reaction to what we heard, what we saw from Ukrainian president's lane scheme, Good morning, Nathan, And it was quite a moment uh of you know, sort of mutual thanking, mutual support, mutual

respect and regard. All those things are very good. Uh. You know, we get past that into uh the really cold light of morning. Uh, certainly on the US East coast of what you're gonna see is that also one of the things that the President Biden said to Zelenski into the American public is that then you know, there won't be any advanced weapons beyond the Patriot missile battery

because to do so risks US alliances quote unquote. Uh, there's also continuing interest in what the administration thinks to

be its endgame. Uh. You know, the Russia continues to talk about the potential for settlement those the potential isn't realistic, but you know, you have to wonder what Washington thinks its endgame is and whether it might be enticed by by the prospect of a set littlement were And of course, as everybody knows, since we're a long way from resolution on the battlefield, uh, you know, that might well look more tempting to the Western allies as time goes on.

Uh So uh, entirely legitimate feel good movement moment here, uh and for all kinds of you know, important reasons. But at the same time, you know, at the end of the day, not really much has changed your going forward. So you don't think that the president's message is going to change many minds then, particularly among the Republicans, who have said that once they take control of Congress, if not to continue support for Ukraine at least to give

it more of a skeptical eye or at least more scrutiny. Well, I think, you know, let me put it this way, I think it's uh, you know, it's uh well, on the one hand, politics is being played here and you know, shocker, right,

but uh, you know, all the way around. In the end, what Republicans have wanted for some time and continue to want, uh fundamentally is for for accountability for the money that's already gone out, the account of accountability for the money that you know will go out with the with the new Omnibus and the new Ukraine package. Uh. That's all fair.

I mean, that's part of what Congress's job is supposed to be is to you know, make make decisions on appropriations for for national defense, emergency appropriations for uh, important things like Ukraine. But at the same time, you know that what they really want is accountability. They should get that. The Biden people should should prepare to give them a good deal of that, and frankly President Zelenski should be

prepared to give them some of that. I think you will see a great deal of unit continued, great deal of unanimity on on Ukraine, and that what ends up happening here is a more regularized process US for understanding what United States money is being used for. And that's you know, I consider that fair. You got about a minute left here, Terry, do you think this omnibus bill gets passed before the end of this week? There's been

some dispute over Title forty two being included in the package. Oh, sure, I think it does. Yeah. Uh. The Supreme Court has certainly has the opportunity to to to throw a standard and the works on this. But I think that fundamentally, uh, you know, this omnibus is going to pass. Uh. I'd say there's probably about a ten percent right now, because we talk about ten percent chance that it won't. But uh,

fundamentally I think it will. Um. I do think the Congress is going to have to be back at it early in the year, regardless after the Supreme Court rules on whether or not Title forty two should go forward. So just quickly, when it comes to Ukraine, what do you see as the trajectory for continued support in terms of weaponry for Ukraine in the next Congress? Only about

thirty seconds left here. Yeah, I I think that the trajectory for for Ukraine weaponry is really that, you know, we we will continue to provide what we're already providing. We will continue to provide the Patriot missile battery that we said we would provide. I understand that that will take some time to train the Ukrainians up on. But I do not expect that we're going to expand UH into giving Ukrainians advanced weaponry. But because that's what the

president said yesterday. All right, Terry, thanks as always, good gates your thoughts, particularly on a morning after a historic night like we just had experienced. Here. Terry Haynes, the founder of Pangea Policy with us this morning, and we're gonna bring you more reaction to the Ukrainian president's appearance in Washington. Michigan Democrat Dan killed these thoughts straight ahead here on Bloomberg Daybreak, looking ahead to the market open.

Futures are turning just a touchflower now, with SMP futures down four point, staff futures down thirty eight, in NASTAIC futures down nine points. This is gloom Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quicktape. This is a Bloomberg Business lash and I'm Karen Moscow. US dock index futures are a little changed to lower this morning and

European shares ever raised their games. We checked the markets all day long year on Bloomberg Rankio again, SNP, NASDAC and down futures pretty much little change now. Future is now down about a tenth of upper cent or thirty three points. The decks in Germany is down about two tents of a per cent ten. Your treasury up four thirty seconds. You have three point six four percent. The yield on a two year four point one nine percent.

NIMEX screwed oil is at one point seven percent, up a dollar twenty nine at seventy nine dollars fifty eight cents of barrel comic school. Little change is at eighteen twenty four or forty announced. The euro one point oh six four or five against the dollar, British bound one point two zero nine one, the had one thirty two, and bitcoin is up three tents of a percent. It's at about sixteen thou eight hundred fifty dollars. That's a Bloomberg business flash. Now here's Michael Barr with Moore on

what's going on around the world. Michael, good morning, Good morning, Karen. Ukrainian President Voladimir Zelenski has paid a wartime visit to Washington to thank Americans for helping to fund the war against Russia, and a speech to Congress, he said the money is not charity, by that investment in global security and democracy. Americans traveling before Christmas could face big trouble getting to their destinations on time because of a massive

winter storm. China plans to cut quarantine requirements for overseas travelers in January. According to people familiar with the matter, there will be no more hotel quarantines. In the NBA. The next loss, the Nets down the Warriors one thirteen in the NHL, The Devil's Won. Global news twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty undred journalists and analysts and more than a hundred twenty country Michael Barr, this is Bloomberg.

Nathan all right, Michael, thank you. It's five twenty three on Wall Street. I'm Nathan Hagar. This is Bloomberg day Break. Let's turn to another major story in Washington, d C. From Ukraine's president visiting to former President Trump's tax returns. Democrats on the House Ways and Means Committee voted to release information on the former president's personal and business taxes. They show his his financial losses shielded him from paying

much income tax since twenty fifteen. Our Republicans are calling the release of these documents a dangerous president Bloomberg's Joe Matthews spoke with one of the committee members, Democrat Dan Kildee of Michigan, who responded to the GOP complaint. I don't think it sets a dangerous precedent. I actually think the most dangerous precedent that we could set is to have before us evidence that the I R s failed to live up to their own obligation to audit the

president of the United States. They simply didn't do it. And we have tax with friends that we've been able to examine. The show really serious red flag, you know, the notion that the precedent was a dangerous precedent to act. I think the most dangerous precedent would be for Congress to look at those two pieces of information and just say, oh, well, you know, to me, that sends a message, the message being that if you're powerful and wealthy, you can continue

to secure the laws. We decided we're not going to allow that to happen, and so we forwarded this information onto the U. S. House of Representatives with the legislative proposal to fix it. And you know what, that's the job I was elected to do. If it makes sense. People uncomfortable because they want to continue to sort of, you know, circle the wagons around Donald Trump. But they're gonna have to explain that, you know, to their constituents why they would prefer not to act. I just couldn't

do it as a good conscience. So what happens next year? How and when they be made public? Well, we're our staff, there's a venocratic and Republicists are working to product from those returns any of those sensitive personal pieces of information you know, social security numbers, tax identification numbers, addresses, you know, even bank record numbers, things of that nature, simply redactive.

We don't want to help that implements in public, you know, in public do but that should take you know a matter of hours and days that needs so I would suspect with them the next couple of days. Uh, those those documents would be available. You've seen them. Are we

in for something here? Yes? And a sussassinates to to take a look at these returns in the lack of documentation for huge cash charitable contributions, for example, or loans and you know teen family members, or you know, conservation easements that are enormous, and then the lap of responsibility to actually pay taxes. Two of the taxes President Trump paid seven seven dollars in federal income taxes one year zero.

There's no circumstance that I can explain to a teacher or firefighter at bath home that they have to pay their taxes or they're going to face severe penalty. And a person who happens to be the president of the United States has the pleasuring Department in the RS essentially under his control, can flop the law, not pay taxes and continue to be one of the wealthiest people in the country, according to his own characterization, I can't explain that.

Democratic Congressman Dan Kilty of Michigan speaking with Joe Matthew on Bloomberg Sound On. Catch the show weeknights at five pm, all Street time on Bloomberg Radio. Now, here's Bloomberg Meteorologist Rob Carolyn with your weather forecast. The National Weather Service has the region under a wind advisory from ten pm tonight through ten pm Friday night. Cloudy and brees with rain developing this afternoon forty five to fifty, rainy, windy tonight,

temperatures climbing into the fifties. Rain ends tomorrow fifty to fifty five. Tomorrow morning cold. During the afternoon, it's windy, partly sunny, breezy. Saturday height Christmas Day, sunny to thirty.

I'm Rob Carolyn with your weekend forecast on Bloomberg eleven three oh broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg Elving freedon to Washington, d C, Bloomberg nine one to Boston, Bloomberg what All six, one to San Francisco, Bloomberg sixty to the Country, Sirius XM chto one, and around the globe the Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak. We're coming

up to five thirty on Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow and are just about four hours away from the open of US trading. Let's get you up to date on the news you need to know at this hour. We begin with a historic night in Washington. Ukraine's President Vladimir's Lensky made an emotional address in person to a joint meeting of Congress. Europe is now stronger and more independent than never. The Russian

Kiraany has lost control over US. This was President Zelenski's first trip outside his country since Russia's invasion in February, and during the trip, Karen, the Biden administration announced nearly one point nine billion dollars in additional military aid to Ukraine, including a Patriot missile battery. Russian President Vladimir Putin meanwhile says Russia has no limitations on its own military spending.

And We're following another story ont A DC this morning, Nathan, A group of House Republicans has released a counter report to the House Select Committee's investigation into the January six capital assault. The January six Committee is expected to release it's full report today. Let's get the latest down the ft X collapse, Karen to top executives have pleaded guilty now to criminal charges and Bloomberg. Steve Rappaport joins US Live with the latest. Steve. Good morning, Nathan and Karen.

Ahead of Sam Bankman Freed's appearance in court today, Caroline Ellison and Gary Wang pled guilty to fraud as prosecutors ramp up pressure in their case against him. The Plea Deal calls for the government to recommend reduced sentences if they provide substantial assistance in the investigation. Bankman free touchdown in New York last night after waving his right to extradition from the Bahamas. Live in New York. I'm Steve Rappaport,

Bloomberg Daybreak. All right, Steve, thanks for taking a look at the markets now. Futures are little change this morning. Global stocks advanced for a third day yesterday as we edge closer to the Christmas holiday. But Brian Jacobson, senior investment strategist with all Spring Global Investments, says markets are pricing in a recession, though there still are buying opportunities.

Look at some of the cyclical names, maybe look at some small caps and mid caps and emerging markets, and uh, let's not forget that this is actually a pretty decent environment where bonds can once again diversify a portfolio. Springs. Brian Jacobson says markets are also pricing in lower earnings in three Speaking of earnings, Karen, America's largest memory chip maker, Micron Technology, is out with a lackluster revenue outlook from me yesterday, and that led to a warning that Micron

will also have to trim its workforce. Taking a look at Micron and early trading, the stock is down two point eight percent. Futures though are little changed to lower SMP futures are down two points, Stole futures down twenty nine and NASAC features are lower by eight points. The ten your treasury is up five thirty seconds, you know three point six four. Nimex crudes up to up one point six percent at seventy seven of barrel comic golds

little change down a buck ten at announced. The euro right now trading at one point zero six four two against the dollar. Straight ahead, we have your latest local headlines, plus the check of sports. You're listening to Bloomberg Daybreak one on Wall Street. We bring in Michael bar to take a look AT's what's going on in New York and around the world. Kind of got a hunkered down if we're not traveling, Michael. One word, Nathan E. Gas.

Millions of Americans taking to the roads and skies before Christmas could face big trouble getting to their destination on time because of a massive winter storm. Several major hubs, including New York City, are all in the path of the storm and face significant disruptions. This traveler in New York was headed towards the storm trying to get home to Detroit. Actually was on the airplane waiting to taxi out and we got canceled going to Bismarck, North Dakota.

Airlines have been canceling hundreds of flights. New York City Mayor Eric Adams defended his record on crime. He wrapped up his first year in office amid rise in major felonies through November. Mayor Adams says, though the top line number does not tell the whole story, as he highlighted double digit drops in the high profile murders and shootings. And I'm talking to New york Is every day when I'm on the subway system, walking the street, interacted with

them in coaches, in houses, roached up in synagogues. That's the number one thing on their minds. They want to be safe, and they deserve to be safe. Mayor Adams gave himself a B plus in fighting crime in the city. A man accused of wounding ten people in a mass shooting on a crowded subway train in Brooklyn told his lawyers he'd like to plead guilty next month to all of the charges against him, including terrorism offenses. His attorneys say Frank James wants to plead guilty of the first

week of January and April. The shooters set off a pair of smoke grenades and then scattered a barrage of random shots inside the train. One senator made a rail the one point seven trillion dollars spending bill. Utah Republican Senator Mike Lee once an amendment that would reinstate Title forty two. GLOBALA was twenty four hours a day on air and Bloomberg Quick Take, powered by more than twenty seven hundred journalist and analysts more than a hundred twenty countries.

Michael Barr, This is Bloomberg NA. Thanks Michael. By thirty three on Wall Street Time for the Bloomberg Sports Update, brought to by Tri State out Here's John stash Our. All right, Nathan Nixon one eight in a row and five of the eighth. They had not allowed a hundred points, but at the guard in Toronto's Pascal Siaka went for

over half a hundred by himself fifty two points. The Raptors ended the next win Street one thirteen one oh six in the lost thirty points of both Julius Randall and R. J. Barrett for an off night for Jalen Bronze front and he shot just three or fourteen nets. Have won their last seven eleven and twelve at Barclay's a one forty three to one thirteen route of Golden State. Nets led fifty one at half time, nine nets and

double figures of the Warriors. Two games back to back nights in New York and they lost by thirty eight and thirty much needed win for the Devils. They lost their last six. They rallied to win at Florida four to two. St. John's lost at Villanova seventy eight to sixty three. Aaron Judge, yet Yankee stated to talk about his new nine year contract and about being named Yankee Captain. Get a chance to continue you know something the Yankees

you know, are so big on, which is legacy. You know, continue to get a chance to continue my legacy here in pin stripes, you know, in the best city in the world, the best baseball city, in the front of the best fans. This is uh an incredible honor. First

captain since Derrik Peter, who was in attendance. The numbers in after the studying Carlos Careas signing the metal out of payroll of three hundred and eighty four million, they'll pay attacks of a hundred eleven millions, and they'll shell out almost half a billion in three Jets and Jaguars. They're gonna be playing in the rain tonight at Metlive. The Jets out end a three game losing streak. They have dropped to five hundred Stash Award Bloomberg Sports n Rant.

You buy out E, don't let someone else drive off in the out model you've always wanted. Visit your local Tri State OUTI dealer to get behind the wheel of yours today, or visit outie Offers dot com for more information on Wall Street. Time for the Tri State Business Report, Let's bring in Bloomberg's ad Cory. New York will be the fourth state to require salary ranges with job postings when a new law takes effect in September. It applies to all employers across New York with four or more workers.

Is Fall one and every five people in the US will be living in a state with so called pay transparency laws. Amazon dot Com and other big warehouse operators in New York State faced new limits on the quota systems they can use to boost worker productivity. Under legislation Governor Kathy Hokele is signed into law. It's similar to a first of a kind warehouse workers safety law that

California enacted in two thousand twenty one. Netflix will develop a production facility on the former Fort Monmouth campus and Monmouth County, New Jersey Governor Phil Murphy's office has Netflix plans to commit eight hundred forty eight million dollars in investments to develop the more than two hundred nine two acre parcel. It's projected to create more than fifteen hundred production jobs. That's your Bloomberg Trying State Business Report. I'm

did Corey, alright, and thank you. It is five on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. Deciding what can be built where is a perfectly legitimate power of local governments across America. It's also a tool of exclusion that undermines the economy, deepens inequality, and even exacerbates climate change. Particularly in neighborhoods with the best schools and

access to jobs. Politically active residents who tend to be older, affluent, and white have long adopted rules to keep others out. It's a prime example of local government gone wrong. Fortunately, the pro market and pro equality aspects of zoning reform give it bipartisan appeal, visible in the support for legislation

at the state and national levels. To be sure, zoning reform alone won't solve the country's housing crisis, but it's a task that federal and state governments must urgently undertake. This editorial was written by the Bloomberg editor aboard. 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 editorials every weekday at this time. Terminal customers can

read more at O P I N go. Another story we're following this morning, puff star Justin Bieber said to score a massive deal that would put his music rights under the ownership of Hypnosis song management and investment entity backed by Black Stones. Or hearing from sources Bieber steak in his publishing rights and recorded music catalog could fetch

about two hundred million dollars. We're told the agreement hasn't been signed, nothing is imminent, but quite a payday potentially for Justin Bieber if he gets on the parade of artists that are selling their music rights. Future is moving lower. On this Thursday morning, you're listening to Bloomberg Daved good morning Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business and at Bloomberg Quick Take, She's a Bloomberg Business lash and I'm

Karen Moscow. And US dot index futures are struggling for direction and they're trying to hold onto the momentum that propelled the SNP five hundred to its best daily gain in three weeks. This is investors assess whether the world's biggest economy can skirt worst case recession scenarios. And we check the markets all day long here on Bloomberg SMP futures Again that will change, so were in NASTAC and Dow futures. The decks in Germany down about a tenth

of a percent. Ten Your treasury of five thirty seconds. You have three point six four percent, the yield of the two year four point one nine percent nine x screwed oils higher, up one point seven percent of a dollar twenty nine. It's seventy nine dollars fifty eight cents of barrel co make school. That will change in seventy announced the euro one point six four nine against the doll they're British pound one point two zero nine seven then one two and bitcoin is up a quarter percent

at about sixteen eight hundred dollars. And today we are watching for a report on third quarter GDP at a eight thirty Wall Street time, along with the weekly report on initial jobless claims, and as a Bloomberg Business flash. Now he's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much. Ukrainian President Voladimir Zelenski pressed the US Congress for tanks, planes,

and more money to help repel Russia's invasion. In his first trip abroad since the wars, Zelenski told a joint meeting of Congress that US support has been crucial so far. The reports set to be released today by House Investigators claims that then President Donald Trump criminally plotted to overturn his election defeat and provoked his supporters to violence at the Capitol with false claims of voter fraud. In the NBA, the next loss, and that's down the Warriors one in

the NHL, the Devil's won. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than hundred journalists analyst or more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, Okay, Michael. Thanks, It's five forty two on Wall Street. This is Bloomberg day Break. I'm Nathan Hager. She's Karen Moscow. And here's

some of this other stories we're watching this morning. We've got our eyes on corporate America, starting with Twitter CEO Elon Musk was on a Twitter spaces chat this week. He says the platform was on course to hit three billion dollars in negative cash flow, so that's why I spent the last five weeks cutting costs like crazy. Now. Elon Musk does say he plans to step aside as Twitter CEO, though he will keep a close eye on

the social platform with a focus on its engineering teams. Well, Nathan, we have a note for a muss other company as well. TSSLA is offering US consumers seven thousand, five hundred dollars to take delivery. It's too cheapest models before a year end. It's a move that's likely to stir up more debate over the extent of the carmakers struggle with demand. It's highly unusual for test Lata offers such a perk, as Elon Musk has enforced a no discount policy going back years.

While speaking of cars, Karen, We're gonna be keeping an eye on CarMax stock this morning. The used car dealer reports earnings before the opening bell, and analysts do expect a drop in revenue. Carmacks is the US leader in used car sales, and it may be better positioned than some of its peers like Carbona and Room in a down market. So yeah, we will definitely be keeping an eye on Carmacks this morning. Pretty hard to fit a car under a Christmas tree isn't a name, but you

can fit it in a vending machine. Apparently that's true. Indeed, Well, weekly jobless claims data set for release at eight thirty am Wall Street Time and the report could instill confidence in the fate of the US labor market. Bloomberri's if any down, Judas gives us a preview. Weekly jobless claims are still running historic clos that could change in three The Federal Reserve is poised to keep with the interest rates to fight inflation by tempering economic growth. That jer

Jerome pals is. As far as the Central Bank is concerned, the labor market remains too tight, underscoring that job openings remain at record highs. Benny Judae s Bloomberg day break. Al right, Benny, thanks. Meanwhile, we get existing home sales, and we got them yesterday. They fell for a tenth straight month that extended a record decline. It comes on the heels of a stronger than expected consumer confidence report and will also get consumer spending data tomorrow morning, a

slave full of economic data before the holidays. Takeing a look at oil this morning, Karen. It held gains that were made over the last three days as traders way concerns that near term Chinese demand could decline against lower US inventories and a week or dollar. But wow, I'm excrude is surging right now at one point seven per cent or a dollar thirty one. If you've got seventy nine dollars and fifty nine cents, you too can buy a barrel of West Texas Inner media crew. Now, let's

take a look at our top story this morning. Ukrainian President Voladimir Zelenski, his in person, ply for more support and more weapons in an address to a joint meeting of Congress. Your money is not cheery, team, it's an investment in the global security and democracy that we handled in the most responsible way. Let's get more Now. We're joined live this morning by Michael Winfrey, Bloomberg's economics and politics editor for Central and Eastern Europe. Mike, it's great

to speak with you this morning. The message we heard from Zelensky last night on Capitol Hill, Ukraine is alive and kicking. What is the sense from where you said about how that message was received by lawmakers in the

U S. Well, Uh, it seems to be very successful. Um. Zelenski got what he wanted at least for now, which was a new pledge of eight by the Biden illustration, and he also got to look Republicans in the eye and give them this emotional appeal before they take over the House in January because there had been concerned that he might not be able to have as much support um as he did under the Democratic House when the leadership changes. But it's not going to just be a

weapons support. The Ukraine is gonna need. We're heading into a very cold winter in Ukraine and in much of central and Eastern Europe, and there's gonna be a much greater need for humanitarian and infrastructure support as well, particularly after the onslaught of attacks that Russia has made on Ukraine's power and water infrastructure over the last several weeks. Yeah,

that's right. There are millions of Ukrainians that are without power, water and heat, most importantly as the temperatures drop below zero. And there has been a lot of support from the US and Ukraine's allies in terms of supplying generators. But one of the main concerns right now is that Vladimir Putin's military in Russia is rearming. You know, he has constrict conscripted three thousand more troops and yesterday his Defense minister said that the army would expand even further in

terms of manpower. So there are worries that Russia maybe planning a new offensive um potentially from Belarus UH in the new year. There's a hope from Zelenski making this trip to the United States to have this scene as something of a pivot point for the war in Ukraine. Well, I mean, that's really hard to say. One of the big issues now that everyone is discussing is which side

is going to be able to arm itself faster. As you probably know, they've been going through tens of thousands of artillery shells per month on each side and that's been a major part of this war. So Russia UH, which has been limited by U S sanctions, is really struggling to continue to keep up the pace of its military production. And Zelenski and going to the US is just underscoring how important it is for Ukraine's allies to continue supplying Kiev with UH EID. So, so the real

question is is it going to be enough? And as Zalinsky said in his speech yesterday, when he thinks of the US and other allies, he said, it's great, but is it enough? Not really, And it's gonna be interesting as well to see whether the US continues to take the lead with this support. Because as a president, Biden alluded to the idea that even more advanced weapons systems going to Ukraine could lead to something of a fracturing with the alliance. Where where what is the state of

the alliance? From where you said, and we've got about thirty seconds left here, Well, we've we've seen some reluctance to supply the more advanced weapons, like the US has just pledged a Patriot battery. But it seems that also these these red lines that Russia keeps putting down and saying is is going to be an escalation for example with the him ours earlier in the summer um, Ukraine's allies continue to sort of push against these and call

the bluff. So I believe that the Ukrainians will continue to to get better support from their allies as the war progresses. Thanks Mike great to get new perspective on this this morning after Zelenski's trip to Washington, d C. That's Michael Winfrey, Economics and Politics editor for Central and Eastern Europe for Bloomberg News. Looking ahead to the market, open futures are little changed, but in the red got SMP futures right now down to point down, futures down

sixteen and Nasdaq futures are lower by five points. The tenure treasuries now up five thirty seconds, yield on the benchmark three point six four per cent. You're listening to Bloomberg Daybreak, Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. She's a Bloomberg Business Flash and I'm Karen Moscow Futurse this morning, our little change and we check the markets all day long year on Bloomberg.

The decks in Germany is down about a tenth of a percent. Ten year treasury up six thirty seconds, you know, three point six three percent, and the yield on a two year four point one nine percent. Ninemex scrude oil is up one point nine percent, up a dollar fifty three at seventy nine dollars eighty two cents a barrel.

Comex called out a tenth of a percent on a dollar seventy at eighteen twenty three seventy announced the euro one point oh six three one against the dollar, British found one point zero eight one the end one thirty two point oh seven, and Bitcoin is up to ten percent at sixteen thousand, eight hundred dollars, and that's a Bloomberg Business flash. Nathan. All right, Karen, thank you for coming up to five fifty six on Wall Street Time Now for our daily blue Burg Law Brief, exploring legal

issues in the news. Today, we're looking at the Supreme Court, which is off to a historically slow start this term. Actually, the Justice is typically issue at least one opinion in late November or early December, but so far they haven't released any decisions this term. According to Empirical Scoutis creator Adam Feldman, it's the first time since nineteen seventeen we haven't seen a decision from the High Court yet. For more on this slow start, Bloomberg's June Grosso speaks with

Bloomberg Law Supreme Court reporter Kimberly Strawberry Robinson. Are they just kicking back and taking it easy or are there other reasons that people have suggested? Well, I think it's

exactly the opposite of that. So there are a couple of things that are really going on here, and I'll say the first of which is something that could explain why this is something we can expect to see in the future as well, is just that there's been a change in the membership of the Court, and so importantly, Justice through Vader Ginsburg used to really pride herself on getting not just the first opinion out of the term,

but really turning around opinions very quickly. And you know, people speculate that that's in part because she came onto the court at a time when they were hearing many more cases, and so there was just this pressure to turn around those opinions quickly so that there was enough time at the end of the term to get out all of their opinions. The current court, it seems like most of the justices have been on the court when

they're accepting far fewer cases. Now, it's we're lucky if we tend to get to sixty five of these days. And so there's just not that pressure sort of built into their d n A. And so I think this is something we're probably going to be seeing more of in the future. The last term was the most contentious I can remember in a long time, and this term looks like it's going to be fairly contentious as well, maybe even more contentious. How did that play into getting

opinions out? That's right, So that's Actually, the second reason why I think that this term in particular, we're seeing a slow star for the justices is that, you know, often the first opinion in an argued case comes in one of these cases that are argued in October, maybe early November. But this year the justices have really frontloaded those contentious cases that you're referring to. So if you look at October, you know, we kicked it off with a major challenge to the e p A's abilities to

regulate wetlands. It was followed by, you know, a voting case that could change the way that the Supreme Court and all thorough courts look at certain claims brought under the Voting Rights Act, and you know, even a really foundational trademark case that was heard at the end of October. And then if you moved into the beginning of November, it's hard to believe that it was that long ago, but that's when the Support heard those cases over the

affirmative action and higher education. So you know, those cases just don't lend themselves to a quick turnaround. Not only are they really hard issues for the Justice to sort out, but it's likely that those are going to be divided cases where you're gonna have dissenting it opinions that sort of go back and forth with the majority opinions before they're ready to let's be public kind of see how

those disagreements all shook out. And that's Bloomberg Law Supreme Court reporter Kimberly Strawbridge Robinson speaking with Bloomberg Stune Grosso, and you can catch more of that interview, plus analysis of the latest legal news by subscribing to the Bloomberg Law Podcast. You can download the show at Bloomberg dot com, Slash podcasts, and attorneys can find exceptional legal research and business development tools at Bloomberg Law dot com and on

the Bloomberg terminal at b Longo. Right now, futures are moving just a touch lower. SMP futures are down three point, staff futures down thirty seven, NASTAIC futures lower by seven points. Attend your treasury is up six thirty seconds. You'ld three point six three percent. Our two of Bloomberg Day Breaks starts right now.