Bloomberg Daybreak: December 27, 2022 - Hour 2 (Radio)

job experience. Plus Democrats called Texas Governor Rabbit's actions on migrants of dangerous stunt. I'm Michael Barr more ahead, I'm John Stashow in Sports Red Hot, and that's been at nine wins in a row with a win in Cleveland. Mike White is back, is the Jets starting quarterback. That's

all trended ahead on Bloomberg day Break on Bloomberg. He liveing free on New York, Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, Bloomberg nine sixty, San Francisco, Sirius x AM one nineteen and around the world on Bloomberg Radio dot Com and via the Bloomberg Business app. Hey, good morning, I'm John Tucker and I'm Karen Moscow. US not Index Future is on the rise this morning, and we checked the markets all day long here on Bloomberg.

Right now, SMP futures are up twenty five points, up almost seven tenths of uppercent. Down future is up six tents of upper center two hundred fifteen points, and now's dead future is up half percent or fifty eight points. The decks in Germany up about eight tens of percent. Ten, Your treasury down seven thirty seconds. Yell three point seven seven percent. They yield on the two year four point

three three percent. Nine back screw oil is up one percent or eighty one cents at eighty dollars thirty seven cents of barrel. Comex gold up seven tenths percent or twelve dollars thirty cents at eighteen sixteen fifty. Announced the euro one point six six five against the dollar, then one thirty three point three to John and Karen as we wait firstock to again trading here in the US on the short and trading week. Equities in Asia are hire.

China continues to roll back COVID measures and that's boosting sentiment in the region. Let's get the recap from Bloomberg Daybreak Asia anchor Brian Curtis. In Hong Kong, Asian stocks powered higher on the China news of ditching quarantine rules. Traveling consumer good stocks jumped. It was a risk on day, with US and European equity futures also higher and the dollar lower. Investors also embraced the cooling of a key inflation measure in the United States. Oil and gold also bounced.

Indexes of US, Asian and global stocks still remained down about this year. It's the worst annual performance since two thousand and eight. In Hong Kong, Brian Curtis, Bloomberg Daybreak, Brian thanks well on geo political news, US China tensions are in focus again. The US is criticizing Beijing's military drills near Taiwan. This week. The National Security Council called the exercises provocative and said it will continue to help

Taiwan defend itself. Last week, US lawmakers agreed to a spending bill that included two billion dollars in web been funding for Taiwan and back here in New York, Karen Nasty bout of winter weather has resulted in twenty eight deaths and crippled parts of the state, and Unpresident Biden has approved a disaster declaration in New York. Let's get more of the story from Bloomberg's Michael Barr. The Buffalo area got at least four ft of snow and more

is expected today. New York Governor Kathy Hunkel, we have been to a lot of wars together, and this blizzard is the one for the ages. Certainly, it is the blizzard of the century. Those who died around Buffalo were found in cars, homes, and snowbanks. Some died while shoveling snow. Buffalo Mayor Byron Brown says they are also dealing with power outages and lack of heat. I myself and my family were without power. I can tell you at one point the temperature in our home got down to about

forty degrees. It was very uncomfortable. We had to layer up. Mayor Brown says some people that have been with out powers since Friday in New York. Michael Barr Bloomberg Daybreak, Grey, Michael, thank you for the bad weather across the country, also hitting air travel hard. Let's get that part of the story Live with Bloomberry Steve Rappaport, Steve, good morning, Good morning,

Karen and John. Airlines are scrambling to catch up after a winter storm canceled thousands of flights during the Christmas travel rush. The flight tracking website flight of Where shows more than twenty eight hundred flights grounded today. Southwest was

the worst hit, accounting for nearly seventy of cancelations nationwide. Yesterday, Southwest Senior director Jim McVeigh, as the storm continued to sweep across the country, the cancelations just compiled one after another, and as a results, we end up with flight cruise and airplanes that are out of place and not in the cities that they need to be in to continue to run our operations. McVeigh says the airline is doing

everything it can to write the current challenges. Southwest stock is down about three percent in pre market trading live in New York. I'm Steve Rappaport, Bloomberg Daybreak. All right, Steve, thanks and turning back to the markets. We're closing out the last trading week of a dismal year for equities. The SB downboard in harder hit has been the tech heavy Danstac, which has lost a third of its value. John Golloby is the chief US equity strategist at Credit Sweetz.

I think that this problem that we've had in tech is not a sentiment problem. It's an earnings problem. And it doesn't last for three or four quarters. It last for six or eight quarters. And a lot of these big tech companies that two or three years ago we said they have modes, they're impenetrable, and we talked in those terms. Um, a lot of those companies are are getting closer to total addressable market, whether that's in handsets

or advertising or other things like that. And it's Jonathan gollobit Credit Sweezy thinks the resilient consumer will keep the US out of a recession well once a pandemic. Darling Peloton disappointed investors last month with the holiday forecast that missed estimates. Now it has a new plan to help re coop some of those losses. When we get the details from Bloomberry's Erica her Schooitz. Peloton released the statement Monday, saying it will begin offering refurbished bikes at discounts of

up to five hundred dollars below new model prices. The price tag on a certified refurbished model will range from eleven dollars that's three hundred to five hundred dollars below current prices. The refurbished bikes come with the same twelve month limited warranty as the new ones and include delivery and set up. The company's all Access membership is sold separately. Shares a peloton or down this year. Erica Schuwitz, Bloomberg Radio,

Thanks Erica. Shares of the AMC Entertainment continuing their slide this morning. They're down another seven percent, enter falling on Thursday and Friday. The company is proposing to convert preferred equity units into common shares along with a ten to one reverse stock split. Again, futures are on the rise this morning. Straight ahead, we have your latest local headlines, plus a check of sports, and this is Bloomberg. Karen,

thanks six or seven of Wall Street. Time to bring in Michael Barr with Moura what else is going on to New York and around the world. Thank you very much, sir. Representative Elect George Santos of New York admitted that he lied about his job experience and college education during a successful campaign for a seat in the US House. In an interview with The New York Post in w ABC radio, the Long Island Republicans said, my sins here are embellishing

my resume. I'm sorry. A lot of people over stayed in their resumes or um twist a little bit or an ingran jate themselves. I'm not saying I'm not guilty of that. I'm just saying I've done so much good work in my career. The New York Times raised questions last week about the life story that Santos had resented during his campaign, including that he worked for City Group

and Goldman Sachs. Neither company could find any records verifying that Ian Connecticut at two year veteran of the North Haven Fire Department has died from injuries he sustained while working ablaze at a four family home. The department identified the firefighters forty six year old if Mattheist Wurtz. The Connecticut State Police are investigating the cause of the blaze,

which displaced thirteen residents on Christmas night. The Biden administration is accusing Texas Governor Gregg Abbot of endangering lives all in the name of politics. Three buses of migrants traveled from Texas and were left in the bitter cold outside the Vice President's official residents. Ukraine's foreign minister has said his nation wants a summit to end the war, but

he doesn't anticipate Russia taking part. Dmitro Kuleba says that his government wants a peace summit within two months at the United Nations with Secretary General Antonio Guterres as mediator. Every war ends as a result of uh the actions taking at the battlefield and at the negotiating tame table. But the balance of what will be one on the battlefield and what will be one at the table it

remains to be seen. Foreign Minister Goliba also told the Associated Press that Russia must face a war crimes tribunal. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than journalists and analysts in more than a hundred twenty countries. Michael Barr and this is Bloomberg, John, Michael, thank you six Tama Will Street and signed out for the Bloomberg Sports updates being brought to you by your try State Alley Dealer. And

Good morning, John stash Ower, Good morning, John Tucker. Jets have four quarterbacks. They've used all four. They started three. Zach Wilson's gone from first string down to third, then after second back to first. Now he's back to third stringer. Maybe it's fourth, but he'll be inactive with the Jets Sunday in Seattle. Mike White has recovered from those injured ribs, so he'll start with Joe Flacco the backup, and Jets coach Robert Salah was af our things stand with Wilson.

Still think he's got a future here. I still think he's gonna be a really good quarterback. Uh. He just he needs time to just kind of sit back and continue the development that we're trying to rekick start, if you will, after the New England game. But I still have him in our future, in our in our plans. This runs contrary to report on Fox and the Jets and decided to move on from Wilson after this season.

The Colts, with their third different starting QB and one time Super Bowl hero Nick Foles through three interceptions the Chargers one three that clinches an a f C wild card for the Chargers, so there's one a f C spot remaining with Miami, leading the Jets, Patriots, and Steelers by one game. Dolphins qb to a ton of belowas and concussion protocol as he was earlier this season. The Giants were watching that game last night because they host

Indianapolis on Sunday. At Giants win and they're in the playoffs. Denver at four and eleven just lost by thirty seven. The Broncos fired coach Nathaniel Hackett. Ninth grade win for the Red Hot Nets. Both Kevin Durant and Tyby Irving scored thirty two. T J Warrent off the bench for twenty three seventeen win in Cleveland and has the Nets only two games at the first place in the East. Nick looked into three game losing streak tonight there in

Dallas the Rangers at home for Washington. John Stash with Bloomberg Sports. John all right, John, thanks very much, 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 to visit your local Try and state Audi dealer. Get behind the wheel of years today or visit Audie Offers dot com for more information and ahead of the cash Open on Wall Street this Tuesday morning

after the holiday. Dal fustres right now two eleven points higher. That's up six tenths of eight percent. Smp E Mini futures twenty five points higher, that's up seven tenths of a percent. And they's a heavy DAS deck futures sixty points higher right now. That is up six tenths of a percent. The ten year yield was at three seventy seven.

The two year yield was at four thirty four. You're listening to Bloomberg Daybreak 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, and good morning. I'm John Tucker. Well two. It's been something of a horror show for technology stocks. Tech having NASTAC is down thirty three percent since the start of the year. And what

is the path I've had? Who better to ask than the Dana Eyes, Managing director at Wedbush Securities. Dan, thanks very much for joining us this morning. What is the outlook for tech stocks in book? It's obviously been a disaster year for attacking two thousand twenty two, and I think going two thousand, clearly sentiment continues to be negative, but we take a little more contrary of view. I think a lot of the bad news they didn't attack.

I think a lot of these stocks are oversold, and ultimately we leave tech stocks will be up about two three. Can you characterize the sell off of the space as indiscriminate. Yeah, I'd say it's all been painted with the same brush. I mean, with the FED continue to go aggressive on hikes, you've really seen just a massive risk off across the board. Now, a lot of the COVID beneficiaries and some of you know that the would I'll say, the names that really

saw the benefit do a stocks. Some of those are down. But when you look at Big Tech, I think the difference now is that you're starting refiners see cracks in the armor in terms of growth, and I think that's why Big Text sold off as well as what you've seen in terms of China and some of the supply chain issues. Really it was a perfect storm. Protect we do not expect the same repeat in two thousand three, So it was more of a just a sentiment problem.

Was it was an earnings problem as well. I think about seventy of it, which is multiple compression fed driven the ten year and basically no matter what, the risk off asset really got thrown out the window. But I think over the last few months you've started to see going into what looks like a very softer macro, some cracks, specifically more in consumer tech. I think social media really

for intandin you saw that with Meta. You've seen that also in digital advertising with delights of Google and others. And enterprise is actually held up extremely well. But I think investors overall it's a white knuckles going two thousand twenty three, and in my view it's as under earned as i've seen the tech sector. These two thousand nine are the evaluations very attractive. At this point, look, evaluations

and tech are below their five year mean. So even when you take out that sort of COVID eighteen months, you know what we could call it a bubble that ultimately formed, we're way below that. I mean, we're starting a back to seventeen level, the e teen levels in terms of from a growth perspective, and I think right now investors have started to beakon into a lot of these numbers that that's you know, earnings still could come down further, but I think a lot of that has

already factored in. And when I look at big tech, the legs of a Microsoft and Amazon and Google, you look at shiber security as a subsector, I believe there's gonna be pillars of strength in tech. And it goes back to you when you come out of the last called dot com bubble and burst oh eight or nine, the best opportunities, the golden opportunities, were coming out of those carnages. And I think that's what we're going into

in two thousand. Yeah, I mean to preserve the margins um tech companies that they could continue to shift focus on some of the operational discipline that we've seen, i e. Layoffs well tech companies. If you look at the last four or five years, a lot of them, I mean they were spending money like nineties rock stars, so sometimes increasing fifteen workforce per year. And I think during KOVID you saw a huge pull forward that said, I mean the clock struck midnight. So now you're starting to see

layoffs across tech. But I also do think that in a wild of non strategic areas, and I think strategically areas like cloud, digital advertising, others, you're gonna continue see growth as well as M and A. But I think this is really just after being tefarn like the last decade, texts finally started see some softness and that's why you've seen the laps. Accordingly, hey, can you call a bottom for Let's get some of the individual names. Tesla stock this year is a Tesla they've taken on a dive

this year. Yeah, and a lot of that, I'd say the vast majority is must Twitter driven there and because of that fiasco train rec situation with Twitter, that's really been the major overhanging on Tesla. And we do believe Tesla stock is ultimately oversold here. But but a lot of this is really how much Candles is going forward? Does you get a CEO in the sooner arriving later of Twitter and ultimately when it comes to electric vehicles, I mean, Tessa continues to really be the market share leader.

I just think that continues to be a name where Must ultimately really determines what's going to happen here. We do believe that you know, the bottom is likely and intention Dan i'ms the managed director at web Bush Security is taking a look at some of the tech names this morning. For us in the overall market, Dan's gonna rejoin us in just a moment. And as we look ahead of the cashow up on Wall Street, the NASA even the future is right now sixty two points higher.

That's up six tenths of eight percent. SMP futures they're twenty five points higher, up seven tenths of a percent. Right now. The down futures are up two hundred twelve points again, up seven tenths of a percent. On this Tuesday morning, You're listening to Bloomberg Daybreak, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com,

the Bloomberg Business Outland at Bloomberg Quick Tape. This is a Bloomberg Business Flash and I'm Karen Moscow Equity is on the rise this morning, while the dollar declines amid positive sentiment from China's rollback of COVID isolation measures and the cooling of a key inflation engage in the US. We checked the markets all day long year on Bloomberg. SMP Future is up about twenty six points, or seven tenths of uppercent. Down Future is up six tenths of

upper cent or two hundred fourteen points. NASAC Future is up six tents of a percent or sixty five points. The decks in Germany's up three quarters of a percent. Ten year treasury down seven thirty seconds. He had three point seven seven percent. They yield on the two year four point three four percent, and I'm ex Scrude oil is up one percent or eighty one cents at eighty dollars thirty seven cents of barrel. That's a Bloomberg business flash. Now here's Michael Barg with more on what's going on

around the world. Make Karen, thank you very much. President Biden has approved New York's emergency declaration as the death toll from a pre Christmas blizzard that paralyzed the Buffalo area and much of the country has risen to eight. The dead have been found in their cars, homes, and in snow banks. Meanwhile, thousands of flights were canceled or delayed, and more are scrapped for today. South Korea sent drones across the border into North Korea. It is an unprecedented

for tant military move. After Kim John UN's regime dispatched five unmanned aerial vehicles into its air space. Monday Night football, the Chargers beat the Colts twenty three in the NBA. The NETS one Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts and more than a hundred twenty countries. How Michael barn this is Bloomberg, John Michael, thank you. It's kind of up on six four on

Wall Street. Hum. John Tucker, you are listening to Bloomberg Daybreak. Let's continue knew our focus on the technology sector this morning with Dan Eyes, Managing director at wet Bush Securities. Dan at the intersection of tech investing and monetary policy. Let's talk about some of the wild cards that are out there for technology in three interest rate policy. What's the expectation and what is the ultimate impact on technology? Well, ultimately that's really been the black cloud over tech and

risk assets. I mean, is the FED continues to be on this hawkish path towards ultimately combat and inflation. Are they in the seventeen eighth or nine now? The one thing it feels definitely like in the first sort of quarter and a half two the FED will be done with those hikes. And that's the important thing is that right now, that's the biggest variable that I think in terms of investors really diving into the deep end of

the pool and risk assets. It's FED driven. It's ten years of been, but we we were starting in the eighth ninth dinning. That's why we beat bullish on tech. Here. Can you further differentiate those names that are more consumer of facing, Yeah, I think when you look at names that have really taken on the chin the upper concept, names like Amazon, which obviously is very heavily exposed in terms of the consumer trends, but on some of the parts. If you look at the cloud business, I think that's

an undervalued piece. You look at Meta, I mean Zuckerberg and Facebook, that's really been you know, what's been a disaster year in terms of two thousand twenty two because of that aggressive what we've we've risky moved ultimately the metaborth strategy and now it's really about them peeling that back and focused on social media. And then you look at other names. Of course, you look at names like Alphabet in terms of Google and some of these other

digital advertising players. But but like I was taking. I believe there's me a lot of M and A and I think a lot of these spots are baking in almost army getting like new is and there's why any relief we gets in tected ripple out higher. And at the end of your note that you passed along you have favorite cloud names, favorite cyber security names, favorite under the radar names, favorite overall tech name, top M and

A candidates. Let's go right through the list. If you would start with the favorite cloud names, Yes, the favorite cloud names. Microsoft. In our opinion, communes would be the best way to play cloud in terms of the strength we're seen in Redmond, and I think that's gonna be a resilient area of spend despite some of the macro storm cloud. I also look at Salesforce dot com. I mean that's the name time and thrown out in the garbage here. I think there's been more activism. There's a

core cloud in there, and from the Salesforce. I also think Amazon and the Cloud pieces a way to play that as well. And real quick, the favorite cyber security names, favorite cyber I love names like pow Out, Checkpoint, cyber Arc, as well as Hannible, a z Scaler and crowds of those names in the left wane. I think cyber security is going to be what I've used a rocket Gibraltar sector just given the threat levels that we've seen two

thousand twenty three. And uh, let's do top M and A candidate's real quick like fifteen seconds here, Yeah, top M and AD. I think cyber and cloud we're going to see those. There's a names like vivernous quow as Cannibal could see a rapids seven. I think it's going to be just the tidal wave of M and A that hits packed in two thousand and I'll do this last one for you. The favorite overall tech name is Apple. Dan.

Always a pleasure. We appreciate it, Dan, I've said wet Bush Securities setting us up for the new year with technology. And as we look at the tech A Dance dec Index, it is right now seventy points higher the tech futures. Just to have this morning's top stories plus your local headlines and check out of markets. But first let's get a look at today's Boomberg weather for a cast with Rob Caroline gradual clearing today his in the tristead areas

should be around thirty five this say afternoon. This looks to be the coldest day out of the work week, will be warmer by the weekend. Clear skies tonight those five to thirty Tomorrow, lots of sunshine. It should be forty to forty five tomorrow afternoon hartlely cloudy with a low of thirty to thirty five Tomorrow night. You look for Thursday sunny and forty five to your fifty eight.

I'm Rob Carolyn with your three day forecast on Bloomberg eleven three oh broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston, Bloomberg one oh six one to San Francisco, Bloomberg nine six to the country, Sirius XM to A one nine te and around the globe the Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak that's coming up on six thirty of Wall Street.

Good morning, I'm John Tucker and I'm TERR Moscow. We are just about three hours away from the open of US trading. Time for the five things you need to notice start your day. Brought to you by Innovation 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 thousand dollars per employee kept on the payroll during the pandemic. Find out to get refunds. Dot Com First, US futures and stocks overseas are higher this morning. The boost in sentiment comes as China's scraps more COVID rules. Now Beijing

plans to end its quarantine rules early next month. Bloomberg day Break Asia anchor Brian Curtis has more from Hong Kong. This marks the end of China's three years of COVID isolation. People arriving in China will only need a negative COVID test within forty eight hours of departure. Up until now, arrivals had to quarantine for eight days. The government said it would handle visa applications for foreigners for everything from business and study to family reunions, and outbound tourism will

also resume quickly. This could be very good for Europe and other destinations, travel and consumer good stocks jumped in Hong Kong. Brian Curtis Bloombergy day break. Alright, thanks Brian. Stocks and shot gained more than one percent overnight and that is giving a left to US futures as we close out the last trading week of the year. It's been a dismal two for the balls, with the SMP

five hundred down more than the credit. Swiss U S actuity strategist Jonathan Gallup sees a rebound for next year. You do have oil lift off and then you actually get some upside in the more commodity sensitive stuff like the MP name and the service names. The sector is going to be a really big surprise. It's absolutely topic. Jonathan Gallo bit Credit Squeeze predicts the SMP five hundred

we're closed at forty fifty next year. Well, John, Another major story we're following this morning, the bad weather continuing to hamper air travel across the country. We get the latest live at the Bloombery Steve Rappaports, Eve, good morning, Good morning, Karen and John. It's a good thing Santa doesn't fly southwest, otherwise he may never have left the North Pole. The airline accounts for roughly sevent of cancelations nationwide yesterday. Southwest stock is down in pre market trading.

Senior director Jim McVeigh explains the storm caused a ripple effect, leaving the airline to play catch up. As the storm continued to sweep across the country, the cancelations just compiled one after another, and as a result, we end up with flight cruise and airplanes that are out of place and not in the cities that they need to be in to continue to run our operations. McVeigh says Southwest is doing everything it can to write the challenges it faces.

Live in New York. I'm Steve Rappaport Bloomberg Daybreak right, Steve, thank you. That's the five things that you need to notice start your day. Brought to you by Innovation Refunds. Again. Futures are higher this morning, with S and P futures up twenty six points and now futures have two four and ASTAC futures up safety four. Straight ahead, your latest local headlines, plus a check of sports. And this is Bloomberg. Dam thanks one of Wall Street. Time to bring in

Michael Barr with more of them. What else is going on in New York and around the world. John, thank you very much, Sarah. President Biden has approved a state of emergency as a winter nightmare continues in the Buffalo area. New York Governor Kathy hocol as at least twenty eight people have died. We still have scores and scores of vehicles that were abandoned when people left during the storm.

Governor Hocole called it the blizzard of the century. Representative like George Santos, admitted he lied about his job experience and college education during his successful campaign for a House seat the Long Island Republicans spoke with City and State aired on ABC seven about questions on his campaign website that he was Jewish. I alway joke I'm Catholic, but

I'm also jude Ish. Uh. And I've made that joke because growing up, I grew up fully aware that my grandparents were Jewish, came from from a Jewish family, and they were refugees to Brazil, and that was always the story I grew up with, and I've always doing it very well. Santo says he plans to take office next month. New York police officials say they've captured a suspect they say is responsible for knife and to death the pediatrician in a Manhattan park and another man who had just

left a bar in the East Village. The Biden administration is calling out the governor of Texas. A busload of migrants arrived in Washington, d C. On Christmas even, sixteen degree whether without warning, at the official residents of Vice President Harris. Ukraine's foreign minister is calling for a peace

summit with the U n Secretary General as mediator. We think that the best the United Nations could be the best venue for holding this uh this summit, because this is not about making a favor to a certain country. This is really about bringing everyone on board. Foreign Minister to meet tro Kulai, but told the Associated Press Russia must face a war. Rhymes tribe unital globally use twenty four hours a day on the air end on Bloomberg Quick Take, powered by more than twenty seven under journalist

and analysts in more than a hundred twenty countries. I'm Michael bar This is Bloomberg, John Michael. Thank you guess now six thirty four on Wall Streets and time for the Bloomberg Sports Report, Brought to you by here try state ibbe dealer. Good morning, John stash Ower, All right John. Earlier the season, the nets were a mess. Started one

in five, nine and eleven, they fired the coach. There was the whole Kyrie You're being saga, but the nets just one at Cleveland on seventeen, with both Kyrie and Kevin Rant scoring thirty two points. They combined to make twelve of nineteen three pointers and the nets of one nine in a row thirteen and fourteen. Their coaches Jacque Vaud. When we came back as a group, we kind of classed to each other that it was going to be about basketball and um, hopefully not let anything interfere any

outside noise, uh interfere with that. And our guys have done an unbelievable job of protecting each other and making this thing about basketball. It's play tomorrow in Atlanta, Nixer in Dallas Tonight, My Night Football. Chargers made the Colts twenty three l a is in the playoffs, one wild card spot left in the a f C, with slumping Miami leading the Jets page Shoots and Steelers by one game of Dolphins visit the Pats Sunday, and Miami QB

to a town of Belowa, backing concussion protocol. Jet Sunday visit Seattle. Mike White returns to starting QB with his injured ribs having heal. John Dash Howard Bloomberg Sports, John all Right, Bloombergs John Stasha were brought to you by AUTI. You don't let someone else drive off of the Audi model you voice wanted. Visit your local trustate Audie dealer to get behind the wheel of yours today, or visit out of Offers dot com for more information and head

of the cash. Open on Wall Street for this Tuesday morning, Futures in the Green, the Dolph futures of two SMP futures, the Dastak futures fifty eight points higher. You're listening to Bloomberg day Break, a six on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. And let's check in now with our global news team for some of the top stories heard on our three hundred affiliate radio stations around the world.

I'm Steve Polas on ktr H in Houston. We're talking about a bounce back in restaurant staffing. I'm Jeff Bullinger and on w l W in Cincinnati, I'll be talking about the National Retail Federation report that says nearly one out of five holiday gifts will be returned by the recipients. And Kimberly Adams and on w BV in Boston, I'll be reporting on city officials considering a possible cap on

cannabis shop. I'm Genus Servetti and for w T A M. In Cleveland, I'm reporting that Toyota says its global output hit a record four November. And those are some of the stories are Bloomberg journalists and analysts are working on this morning around the world, and tell him now for the Bloomberg Small Business Report, Let's get that from Bloomberg's Lisa ma Tale. Are you looking to improve your email

marketing but not sure where to start? Business Insider turned to the advice of a few small business owners who have seen their subscribers skyrocket to find the right platform to use. They suggest crowdsourcing for information, reach out to friends to get their opinion, post on Facebook groups for advice, see what your competition is using, and reach out to

the software company itself with any questions. Next, give people something in exchange for their email address that's low effort for you, but high value to the customer, like slides to a past workshop or an easy giveaway. And to find out what content works best, look at the data. Which emails received the best engagement and open rates. Try a b testing your subject lines, which most email marketing services allow you to do. And don't be afraid to

ask your subscribers what they like. An email poll twice a year goes a long way. And that's the Bloomberg Small Business Report. All right, thanks Lisa. Don't love what you go for Christmas? Well you're not alone, Bloomberg's Erika Hirschowitz reports. Were you one of those people who had to fake loving what Sannah left you under the tree? Well, don't feel so bad. A new report is predicting consumers will return more than one point four billion dollars in

holiday orders this season. The study by software company Salesforce says that's a fifty seven percent increase from one US online sales were also up five percent to two billion. The report noted that part of the uptick could be from shoppers who purchased gifts earlier this year and repurchased them later for a better discount. Erica Hirschowit's Bloomberg Radio. All right, thanks Erica. And just ahead, we'll take a

look at the top stories in the nation's capital. And we're gonna be joined by Terry Haynes of Panji of Policy SMP Futures right now, higher you're listening to Bloomberg Tape, break Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktape. This is a Bloombern Business Lash and

I'm Karen Moscow. Futures on the rise this morning. Let's go to the first word breaking news dance for today's morning call, and here's Tatiana Darya, Tatiana, good morning, Good morning, Karen. Like you said, it's green on the screen. After the long Christmas weekend, the futures hired by two hundreds, and Piece up twenty five and NAZAC up fifty six. They just ten year yield higher by three basis points to three spots seventy seven. This morning. Oil is up one

of while the dollar is weaker by two tents. Else Where, European stocks are higher at this hour, while Asian stocks were mixed overnight and back in the US on the economic front, wholesale inventories at eight thirty and the house price index at nine in early trading, US listed Chinese stocks are moving higher after China's decision to reopen its borders. Ali Baba, j D dot Com up more than two percent,

among others. One Chinese company moving lower, though, is electric car maker Neo, down three percent after cutting its delivery outlook and warning of sales challenges. That's weighing on Tesla to down nearly four percent here this morning after a separate report the company will run a reduced production schedule at its plant in Shannahai and wrapping things up SOUTHASTERI lies down four amid more flight cancelations due to the winter storm. Lie from the First and Breaking news desk.

I'm Tatiana, Daria Karen, Right, Tatiana, thank you and to hear live breaking news of your Bloomberg type squawk on your terminal SUU A wuk and that's a Bloomberg business lash. Now here's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much. The death toll from a pre Christmas blizzard that paralyzed the Buffalo area and much of the country has risen to twenty eight In Western New York, the dead been found

in their cars, homes, and in snowbanks. Meanwhile, President Biden approved an emergency declaration for Western New York. The Biden administration criticized Beijing's military drills near Taiwan this week as provocative. It insists it will continue helping the government in tai Pay defend itself. Monday Night football, the Chargers beat the

Colts twenty three in the NBA. The NETS one Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven undred journalists analysts in more than twenty countries. I'm Michael bar, This is Bloomberg, Karen Frry, Michael bar Thank you at at sixty two on Wall Street, and we turned to news in science and technology now with the Bloomberg and j I t Stem Report. And here's just making news in science, technology, engineering,

and math. China is reopening its borders to the world by removing the final COVID zero restrictions. Starting January eighth, Beijing will no longer require inbound travelers to quarantine, they'll only have to obtain a negative COVID test within forty eight hours. Meanwhile, the Chinese government may also reduce the frequency of reporting cases, ultimately changing to a monthly report. Acquisition talks between crypto lenders Next So and Volved have

not yet resulted in an agreement. As Vault shares down, or rather as VULT stares down to January twenty deadline to present a restructuring plan to creditors, Fault and Next So and Her talks about a deal in July after Singapore based Fault froze withdrawals and hired advisers to explore a potential restructuring. Crypto lending has been devastated this year amid the collapse of entities like Hedge Fund, Three Arrows Capital and the f t X Alameda Empire and Apple

maybe getting a tax bill overseas. The NK is reporting Apple faces about ninety eight million dollars in back taxes in Japan, a bill that appears to be tied to bulk sales of duty free devices to foreign tourists. The reports has Apple halted tax free shopping in June is believed to have filed an amended tax return. And that's the Bloomberg and a I D STEM Report. John Charen,

thank you very much. It is now six forty four, Well Street, time to check what's going on in d C. Some of the top stories in our nation's capital include Michael Barne told you about a couple of these, New York Congressman elect admitting to lying about his professional background and education history, the US criticizing China military drills near Taiwan, calling it provocative. Kerry Lake spid to overturn Arizona election

results rejected by a judge. And let's take a deeper dive into some of these stories and more with our next guest, Terry Haines of Pangaea Policy. I'm gonna call him the Pride of Pittsburgh. Terry, good morning to you. I hope you hope you had a great holiday. Um let's start off with I think somebody called it problems about candidate quality. Is this New York Congressman elect one

of those problems candidates for the Republican Party? This is a George George Santos, by the way, Yes, yes, good morning, good morning John, and yes I will take the private porch. Uh title, thank you very much for that. Uh, my parents will be most proud. Anyway, The yes, Santos isn't a bit of trouble. I think. At the same time, the bar for the bar for something like an expulsion

is very, very high. Uh. There have been twenty expulsions from the House of Representatives in the history of the Congress, and seventeen of those or as a result of supporting the treason and conspiracy, uh, as a result of supporting the Confederacy. We haven't had an expulsion in the House since when Jim traffic Had of Ohio got expelled for being convicted of a bunch of things. So the bar is pretty high on expulsion the answer the question of

New York voters. But but at the same time, he may end up getting censured or or face some other kind of discipline. Uh. But yeah, I mean the sort of resume padding goes on, you know, both inside and outside the Congress these days. And uh, you know, so he's gonna he's gonna face a bunch of questions. We're senior members of the party aware of this, and I don't know where I doubt I doubt that very much. Uh.

You know it is not. You know. The thing is about this is that you know, first of all, you're a candidate. You know there you're not you know, they figure you're not. Uh, you're not going to be vetted. Particularly they figured the voters vetue and uh. And after after you're elected, you become subject to the discipline of the House when you become a member, and really not before. So you know, Mr Santos saying I'm sorry is uh is an interesting way to right before he becomes a member.

It's an interesting way to deal with this. But he'll be under a cloud for the entire for the entire time. I'm and I suspect, you know, I suspect that the New York Republicans won't won't want him around after this particular term, and you know, Frankly will support another candidate, and uh, you know, he'll be a virtual prior in the House. I think. So his tenure is a as

an elected official is going to be pretty short. Terry, I didn't headline this one, but I wented awagh in on you know who says there's no by bi partisanship in Congress. We we actually got a spending bill. I'm gonna h spending bill passed over the holiday before. Yeah, you know, we did. And you know, and my view of this, John is that and you and I have talked about this before, is that generally is that there's not too two political parties in Congress. There's four factions

going from left to right. You have Progressive Democrats, Centrist Democrats, Centrist Republicans, and conservative Republicans. Uh. You know, you get any two of those four aligned, and then you know things are to get to get serious one way or the other. The Centrists are always in an alignment on on spending, so you know, you're going to get a bipartisan deal on spending, as we have each of the

last ten or eleven years. And you know, I think we continue to get that frankly, and you know, by and large were what we're going to get into Congress is we're going to get gridlock on all kinds of domestic issues, so they be social or otherwise. We're gonna get continued centrist bipartisanship on spending, and we're going to get continued almost unanimity and foreign policy. So you know, the spending bill in some ways is a precursor and a precursor to exactly what's likely to happen in the

next Congress. Innict UH spending and foreign policy. At the intersection, we have Ukraine, A Republicans getting weary of spending money on Ukraine just about thirty seconds. Yeah, I don't think. I don't think it's weary this so much. They're interested more in accountability. If you listen to a lot of them, what they'll say is we're interested in making sure that the money is being spent well and fair enough. They should,

that's part of their functions as the Congress. But I continue to think they're going to support the Ukraine war and you're not going to see any backtracking from that. Terry.

Always a pleasure appreciated, and I have a great new year if I if I don't talk to you, Terry Haynes of Panji A Policy and you can read more about these stories on Bloomberg dot com or on the Bloomberg term will also reminder you can follow all the latest Bloomberg Radio in Washington Bloomberg one at one to five point seven FM HD two ahead of the cash open on Wall Street for this last trading day of the week this Tuesday morning, dew features right now up

two one points. That's up seven tenths of a percent. SMP him many futures of twenty six points, and that as that futures right now up sixty one points. You are listening the Bloomberg Dame right markets headlines and breaking news twenty four hours a day at Bloomberg dot com and Bloomberg Business at and at Bloomberg Quicktake. This is a Bloomberg Business Flash and I'm paren Moscow futures are on the rise this morning, and we checked the markets

all day long here on Bloomberg. SMP futures up seven tens of percents, so are DAL futures. Nastack futures up six tents of uppercent. SNP futures again up twenty six point, Staff futures up two hundred twenty three, and Nastack future is up sixty three. The decks in Germany's up eight tens of percent. Ten year treasury down eight thirty seconds. You have three point seven seven percent they yield on

the two year four point three four percent. NIMEX scrude oil is up nine ten percent, or seventy two cents and eighty dollars twenty eight cents of Barrel Co makes gold up seven tenths percent, or thirteen dollars thirty cents at eighteen seventeen sixty announced, the Euro one point six five four against the dollar, the n one thirty three point to six, and bitcoin little changed at about six eight hundred dollars. And that's a Bloomberg business flash, John Karen,

thanks very much, appreciated. Six fifties six on Wall Street. Time to take a look at some of the stocks, some of the names that are moving in the pre market, and for that we're joined by Bloomberg. Rady on TV Markets corresponded pretty Groupta. I know you heard our fantastic interview earlier this morning with the Bloomberg's Allen wanted Shanghai. He seems to think from his perspective, those restrictions in China, the COVID restrictions are pretty much over. They're not coming

back no matter what. That I imagine, well, it is having an impact on stocks this morning. He hasn't say the sentiment that's really I think driving the action that you're seeing the equity markets around the world. But we love to look at our poster child for China for China, stories like Ali Baba for example, be A b A as a taker about two point three percent in the pre market. Remember this comes after to your point, they are going to reopen the borders, but the idea hears

that they're not going backwards. Remember reopenings are messy historically, and China has kind of taken one step forward three steps back. That's at least have been their approach. But this to completely scrap their entire quarantine restrictions for all foreigners starting January eight, and not to a timeline, by the way, that's kind of coming to fruition. Tom Orleck of Bloomer Economics has a China expert, if you will our local China expert. He says that he expects that

full reopening by the end of March. So um, the timeline here is really interesting. What is what is al Obama like the poster child? Though? Why is this the bell weather for China? Well, it's kind of a one. It's obviously listed here, so US listed a d R is also a massive e commerce company, so you kind of get a little bit of a gauge when it comes to Chinese spending patterns specifically. Also, it actively competes with likes of Amazon, so we like to look at

it as our as our poster child. But you can see it in some of the other stocks as well. Pindo a Deal for example, p d D another e commerce company up about two and a half percent in the pre market, j d dot Com if you will, as well, Um and even Billy Billy b I l i uh, those shares are all up about just tune about three percent. I can say there's nothing worse in the well, there's there are a lot of things worse.

But one thing that really stinks is when you're in an airport and your flight gets canceled and there's no alternative and you're trying to call customer service and it just like hangs up on you. Yeah, it's funny. A lot of that happening with Southwest at the moment, specifically because they're about eight percent of their flights were grounded

or canceled. So you really saw a lot of pain there, and that was one of the kind of issues that now the Department of Transportation is actively looking into, saying that well, the travel chaoses are usually pretty normal, like this, Christmas, Thanksgiving, Easter, etcetera. You see these kind of moves, but this is taking it to another level. So Luv your taker there for Southwest shots down get this four percent quite a little bit of pain. But you want to keep an eye

on some those other airlines American Delta as well. Right now they're not doing a whole lot and really a lot of pain in Southwest Airlines. I was talking to Dan Ives earlier and he thinks, um Tesla his hit bottom, Like I just want to under it's one of the most active in the pre market testlas years and they're down pretty always a pleasure, appreciate it. Bloomberg Radio and TV Market Score spotted pretty Gupta and uh looking at

stocks ahead of the open on Wall Street. Dow futures right now up two SMP EMNI futures twenty five points higher, and that has Damny futures they're on fifty nine. You are listening to Bloomberg Daybreak Live from the financial capital of the world, broadcasting across the globe. This is WVBR, New York. Bloomberg he lived THREO two thousand three is very likely to me the year of recession. We might skirt a recession or