Bloomberg Daybreak: December 29, 2022 - Hour 1 (Radio)

five points. At nast day futures up sixtensive upper cent or sixty six points. The decks in Germany's up two tenths of uppercent. Ten year treasury up three thirty seconds, you know, three point at six percent. The yield on

the two year four point three five percent. Nieme x scret oil is down what and a half percent on a dollar eighteen at seventy seven dollars, seventy eight cents of barrel comic schooled down two tenths percent or four dollars at eighteen eleven eighty announced the euro one point oh six three three against the dollar, British pound one point two zero three two and the A one thirty three point eight one Bitcoin is up for tensive percent at sixteen th six hundred dollars. And that's a Bloomberg

business flash. John thanks five fifties six on Wall Street, and it's time for a daily Bloomberg lawbree If exploring legal issues in the news. Today, we're looking at the battle over titled forty two, the White House complying with the Supreme Court order to keep the sweeping measure in place. Title forty two places coronavirus controls on the border, stemming the flow of the immigrants into the US. And for more on the issue of Bloomberg's Madison Mills speaks with

Leon Fresco, a partner at Holland and Night. What would you say is the single biggest concern that you have about the impact of this decision from the Supreme Court? Well, the interesting thing is that what's being reported isn't exactly in line with the actual facts of what's going on, meaning that there are so many levels and layers to these cases that it's really hard to sort of get a straight arrow reporting of what is happening. And here's

what I mean. So, for instance, in the Louisiana case, which is the case that's actually keeping now Title forty two in effect until at least now June of three. That's the case that the Biden administration could have chosen to speed up in the appellate process and asked for expedited consideration, but they didn't, and so that's why we don't have an answer on the fate of Title forty

two faster. Secondly, in the DC case, which is the case I was actually dealt with by the Supreme Court about this issue of whether the States could intervene or not, that whether that decision from the DC District would be stayed. The only reason there's a decision to be stayed now is because the Department of Justice took an appeal to the Court of Appeals of the d C Circuit. Had they not taken an appeal, there would have been nothing for the States to intervene to and there wouldn't have

been yet again let's stay. And so what's fascinating about this is the Biden administration can say, well, we don't want type of forty two around, but that's not actually consistent with two different litigation decisions that have been made

in these cases. So the fair point is to say, they may have a loopwarm desire to have tit of forty two around, but there are certainly the actions that have taken place, our actions where it doesn't seem like there's actually a great desire to entit afforty too, with regard to the Biden administration, have we seen comprehensive immigration plans from the right, Well, they are not in the mood to do anything at the moment that would have sort of the pillars of immigration reform, which would be

they're sort of three or why is that? Why are

they not in the mood for that? Well, I think they view the current situation on the border as one where to the extent that now you're seeing more and more programming in this regard even not on just Fox News or news Max, but you're seeing it on MSNBC and CNN, that that's an advantage a situation to show that there's not an ability to end those scenes on the southern border, and so why basically give a handoff to a person who's not able to handle this situation.

Immense le On Fresco, a partner at Holland and Nice, speaking with Bloomberg's Madison Mills, can catch more conversations like this on Bloomberg's Sound on Herd week days at five pm Eastern on Bloomberg Radio Plus. Attorneys can find exceptional legal research and business development tools at Bloomberg Law dot com and on the Bloomberg terminal. It's at b law dot gov. This is Bloomberg Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, the

Bloomberg Business at and at Bloomberg Quctape. She's a Bloombern Business lash and I'm Karen Moscow. US stock index Future is on the rise this morning as technology shares rally on the second to last day of training and what's been a brutal year for financial markets, and we check the markets all day long here on Bloomberg S and P. Future is up about thirteen points of a third of up percent. Deal futures up a tenth of upper cent or forty two points. Nasdack futures are up six tenths

of upper cent or sixty seven points. The decks in Germany's up to tenths of upper cent. Ten year treasury up four thirty seconds at three point eight six percent. They yield on the two year four point three four percent. Ni Max screwed oils down one point seven percent at a dollar thirty two at seventy seven dollars sixty four cents of barrel comes golled down two tens percent or three dollars ninety cents at eighteen eleven ninety announce the

Euro one point six three five against the dollar. British found one point two zero to nine, the n is at one thirty three point seven seven and big coins up for tens of uppercent. It's at about sixteen thousand, six hundred dollars. And that's a bloomberg business flash. Now here's Michael Barr with more on what's going on around

the world. Michael, Karen, thank you very much. More than twenty three hundred Southwest flights are already canceled today, marking the fourth strade day of the airline has canceled more than fifty percent of its scheduled flights, and all more than thirteen thousand Southwest flights the past week have been canceled. The U S is reinstating mandatory COVID nineteen testing for airline travelers arriving from China. The CDC says the new measures follow a surge in infections in China and a

lack of transparency from Chinese officials. A massive fire at a Cambodian hotel casino has killed at least a dozen people. In the NBA, the Nets one their tenth straight, the Wizards and Warriors one. In the NHL, the Bruins beat the Devil's three one. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg. John

all right, Michael, thank you. It is five forty two on Wall Street to Bloomberg Daybreak. I'm John Tucker alongside Karen Moscow. Let's take a look at some of the other stories that are making news this morning. Three will likely see more attempted crossings of the U. S border that threatens to burden already an overwhelmed enforcement system. President Biden's immigration policies face uncertainty, and to the Supreme Court,

Captain placed pandemic era border controls. Leon Fransco's former Deputy Assistant Attorney General for the Office of Immigration Litigation. At the end of the day. I do think that there will be a confluence the factors that will hopefully lead to an immigration reform efforts, and the question is why that how that will happen? And stay with us for more on the title fight from the former Deputy Assistant Attorney General Fransco that's coming up shortly in our daily

Bloomberg laundrerief. On the meantime, John Crypto again in focus this morning. Salana, the Blanchain network once championed by Sam Bankman. Freed is drawing intense through me for its close ties to the disgrace crypto mogul. The prices Alana's crypto token s o L has plummeted ninety six percent from it's all time high in November of last year. It peaked at two hundred sixty dollars. Now it's around ten and the fellow reserves aggrssive tightening continues to take a toll

on the housing market. US pending home sales fell for a sixth consecutive month in November to the second lowest on record. Data also show borrowing costs have roughly doubled since the start of the year. Well, John, the US Virgin Islands is suing JP Morgan for turning a blind eye to former client Jeffrey Epstein's sex trafficking on his private island. There. The Virgin Islands Attorney General says the suit is part of an ongoing effort to hold accountable

those who facilitated Epstein's activities. And Karen now to another story we're watching this morning, Russia ruling out peace talks with Ukraine. Let's take a deeper diving into this morning. We're joined by Bloomberg News correspondent Alexander Kudriski joining us now from Warsaw Polo and thanks for being with us. The Russian Foreign Minister Sergei Lavrov is making some comments.

What exactly is he saying? Um? Russian Foreign Minister Lavrov uh had an interview today in which he said that Kremlin will not be discussing Ukraine's demands to withdraw from the occupied plans and pay any reparations, so the answers Uh another interview by Ukrainian Foreign minister who said that Ukraine would like to hold a piece Pize summit on February, but they don't anticipate Russia to take part and seek tribunal against Russian leadership. Well, how is the war? Let's

back up, how is the war going for Ukraine and Russia? Uh? Well, just today people in Kiev, actually including our Blueberg colleagues in the Ukrainian capital, heard series of loud explosions because Russia lunched another missile bash. Um. However, the explosions appeared to be a largely work of air defense, which is WHICHIES has become very effective, and all missiles in climbing at ke has been shut down for example, and only about one fifth of Russian missiles fired today. Um, we're

able to reach their target. But still the attack caused quite big power disruptions in other areas. For example, in Leaf City, New Poland, almost any percent of people were left without electricity. Does Russia's show any signs of wanting to end this conflict? Well, um, today shows that Russia is still willing to stick to its h relatively new tactic of targeting Ukrainian energy infrastructure since it's apparently not able to reach any successes in the battlefield. We'll have

to see what the new year brings. But today we've seen another missile attack, which was a tenth tenth attack since September of such times, and let's focus continuous. I want to focus on the people of Ukraine, how they're doing in this winter without any supplies of of energy. At this point, what's the situation on the ground there in Ukraine for the people? Oh, you Ukrainian people now have to get used to living with power supply, which

is not a table for most people. Um. Every day you have periods of time when you have electricity and when you don't for thresholds of several hours, and it all depends on the region. Situations seems to be um, whether in some areas and worse in others, or especially after a missile hits UM. Like I said today, there are power disruptions in a death region and keive authorities.

By the way, even if a KIV wasn't directly hit by missile, still had to introduce UM power cuts just to avoid some some damage in case some missiles could reach their goals. Um, it's a tough time, tough winter. But fortunately the weather is not that of frosting now and well so far Ukraine is not freezing to death. We can only hope that holds. At this point. What

you're in Poland describe for me the situation there. Refugees in Poland and other joining countries sound like they are stepping up to the plate to help Ukraine and the people that have flowed flowed over the border. Right. Yes, Polands have been incredibly helpful to Ukrainians and incredibly welcoming and effective in its help. Um. But also one particuliar thing is that most people coming from Ukraine are women and children because men are technically not allowed to leave

the country. From what I saw in terms of last statistics, some eight million Ukrainians left for Poland since the war start, but also six million returns. So many people do come

back and not everyone's stays in Poland or elsewhere in Europe. Um. Uh, well in Poland, but the country is U doing is best to help Ukraine because it's all this that the war is not that far away Ukraine, UM, Poland Polish people in Polish government is willing to help Ukraine survive and sustain itsel because if he doesn't, who knows what's going to happen. Bloomberg reporter Alexander Kadriski on the very

latest joining us from Warsaw this morning. Thanks very much, alex We appreciate that this morning, as we look at futures right now, the down futures, they point to a higher open out Wall Street this morning, at least for now. The down futures of sixty one points, that is a rise of two tents of a percent. Smp Ehumni futures there are fourteen of four tenths of a percent. The Nanazac futures sixty nine points higher right now, up six tenths of eight percent, the ten year yell down one

basis point where three eighties six. You are listening the Bloomberg Day Break markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business at and at Bloomberg ticktake three. He's a Bloomberg Business

lash and I'm Karen Moscow. U s Dock Index futures gaining this morning, led by the Nasdaq futures following a rally and Asian technology stocks amid science China's easing a regulatory crackdown, and we checked the markets all day long here on Bloomberg s and P futures they're higher, up three tents of upper cent or eleven points. Down future is up a tenth of upper cent or thirty eight points. Nashtack futures, they're up six tenths of upper center sixty

one points. The decks in Germany's up two tenths of upper cent ten. Your treasury up five thirty seconds three point at six percent. They yield on the two year four point three four percent. Nine back. Screwed oil is down one percent at a dollar forty two at seventy seven dollars fifty four cents of barrel call makes gold lit'll changed at eighteen fourteen fifty announced and that's a bloomberg business flash. Now here's Michael Barr with more on

what's going on around the world. Michael, good morning, Good morning, Karen. Southwest is trying to recover from one of the worst airline meltdowns in US has three passengers are still stranded all over the country. Another twenty three hundred Southwest flight has been canceled for today. The US and Italy joined an increasing number of nations requiring COVID tests for travelers

from China. Concerns are mounting over the risk of any new variants emerging from the surge of infections in the country. In the NBA, the NETS one, their tenth straight the Wizards and Warriors one in the NHL, the Bruins beat the Devil's three one. Global news twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven under journalists and analysts more than twenty countries. Michael bar this is Bloomberg. John alright, Michael,

thank you, five twenty three odd Wall Street down. John Scer, this is Bloomberg Daybreak. Let's pick up on that headline, Michael. Just to mention the US and Italy joining an increasing number of nations requiring COVID tests for travelers from China. Let's take a deeper dive hand to Shanghai this morning, and that's where you find Bloomberg's Alan one Alan always a pleasure. Um, what's thet is? What countries are imposing?

What kind of restrictions? Yeah, you just mentioned that the main ones are in the US and early um and uh in liew in the US in lieu of tests? Um? Uh? The what the US said that passengers Chinese passengers, travelers can provide documentation of recovery from COVID or they have they have tested positive more in ten days earlier, so

doesn't necessarily have to be negative PCR test results. The requirement also requires that all passengers, UM, you know I have to like undergo this process, regardless of nationality or vaccination status. UM. The US health officials are concerned basically about china lack of transparency around case data, saying that the high numb of people, high number of people affected over a very short period time raised the chance of

a new variant emerging. I mean, for it's Paul. China said that if there are any new variants, it's going to report it to the World Healthfulization and UH, a global consortium that tracks all the stuff attracts the pandemic, said US. So far, there aren't any signs of any significant new new mutations emerging. And what's why we've seen in China has been circling around the world so far, the vaccines that were available in China, I think you've got what is Are they effective? I mean they're just

or not well. I have to think about it that there's always that concern even among the Chinese. I mean, I hear about UM mainland Chinese saying that you want to go to Macau, Hong Kong to get the m R and a vaccine UM. From my perspective, you know, I've I've had to two Chinese shots the Sidle Farm, which are who approved, and then I got a booster five boost a year ago when I was in New York and I contracted COVID and I I was a symptomatic,

I know symptoms. So it's hard for me to say that the Chinese Chinese vacucally's are less effective just because I myself have you know, it looks like I've been able to sort of withstand the worst of it. Um. But yeah, there's always a concern. And that's why you know, China has been coming out with and now inhalable vaccine. It's going to allow foreigners to get the flies of

Beyon tech of vaccine here in China as well. Okay, from the market's perspective, is the China reopening a good thing because well they're back in the game the world's second the largest economy. Or is it a bad thing because maybe COVID is gonna spread maybe variants, Well that's the thing, you know, will are there gonna be new variants emerging? So far, let like I said, Global Consortium

attracts all the stuff and they're watching really carefully. It doesn't what they do they said so far earning is a okay. Um. Bobviously there's always going to be the concern just because um, you know, if you know the fact that the spring China has been so rapid, so sudden,

that there's always that possibility. Um. But I think as far as the vessels concerned, UM, right now, it's more of a wait and see approach just because is we have to China approaching and we're gonna have you know, a lot more infections and deaths in the next few weeks, um, and then from there will well, well, the operaks peak. Today, the Chinese c DC said that the operaks are peaking in Baiting, uh chung Do, and uh Tangin, but it's

still pretty seriously Shanghai. Uh. So, I mean there are like you know, uh, it's always peaking in some major important cities, but we're still not where we need to be from Shanghai. This morning, Bloomberg's Alan Jan Alan stay healthy. We appreciate it, and just ahead this morning's top stories plus your local headlines. Right now, the SMP futures are

twelve points hire. That's a three tents of percent. Right now, Let's get a look at today's Bloomberg weather forecast, and with that's met around just Rob Caroline mixed the clouds and sunshine shaping up for the Tri State area. High pressures off to our south and east in the Atlantic, so that's gonna allow to warm up high to fifty.

We're partly cloudy ton eight thirty to thirty five, partial sun for tomorrow close to fifty becoming cloudy thirty five to forty tomorrow night rain who was in late Saturday

fifty to fifty five, partial clearing on Sunday. On Rob Carolyn with your weekend forecast on Bloomberg eleven three oh broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg EVM freed on to Washington, d C, Bloomberg ninety one to Boston, Bloomberg one O six one to San Francisco, Bloomberg n sixty to the country, Sirius XM to the one nineteen and around the globe, the Bloomberg Business app

and Bloomberg Radio dot Com. This is Bloomberg Daybreak, and we're coming up to five thirty on Wall Street good morning. I'm Karen Moscow and I'm John Sucker. This is your daily reminder from Innovation Refunds to apply for a payroll tax refund if you're smaller medium science business was impacted by COVID nineteen Innovation Refunds clients already claimed over two

billion dollars in payroll tax refunds. Get started at get refunds dot com and a nearly four hours away from the open of US trading, let's get you have to day on the news you need to know at this hour. As COVID cases climb in Shina, the US plans to require COVID testing for travelers from the country. Officials are concerned about new variants and China's lack of transparency with COVID data. Italy will also begin testing arrivals from China

and wants other European countries to do the same. And we have news on the war in Ukraine this morning. Russian Foreign Minister Sergei Lavrov says Moscow will not enter into negotiations and the war. The hardline stance comes as Rossia launched another missile barrage major major cities in Ukraine. Former Defense Secretary Mark answer says the US can and should provide further support for Ukraine. It's important that we hold on, but at the same time give Ukraine what

they need to win. They have the will, they have the courage, they had the resolved, They've been showing a great deal of grit and success on the battlefield. We need to help enable that. Former Defense Secretary Mark Asper, you're speaking with David Weinston on Bloomberg's Balance of Power at Catch to the show weekdays at noon on Bloomberg Radio and television. Well to All Street Now, John, We're layoffs are front end center. Goldman Siance is working on

a fresh round of staff cuts. CEO David Solomon made the announcement in his year end message to staff, saying the cuts will be unveiled in a matter of weeks. Man, Karen, looking at markets right now. US futures for now, they're higher following two days of losses, COVID concerns out of China. Weighing on set of it. Jonathan gobubhead of US Equity Strategy of Credit Sweet says steady wages can provide some stability in three Wages don't look like they're gonna fall

as much for the average consumer. They're going to get a stronger wage increase the things they fired, and we are going to go off as much as their wages, and yet jobs are really plentiful. Jonathan Gallub with Credit Sweet says he thinks there would be positive market movement in early next year. And John, the travel meltdown that's stranded thousands of passenger shows no signs of slowing as the airline continues canceling flights and Bloomberg. Steve Rappaport joins

US Live with more. Steve, good Morning, Good morning, Karen, and John. Southwest blames bad weather for its problems that aviation experts say snow was only one of the elements that created the perfect storm. They point to issues like tight turnaround times, faulty phone systems, and outdated software. Analysts and unions warned for years that Southwest needed to invest in new technology. Those warnings proved costly, as Southwest grounded

more than twenty three additional flights for today. But grace skies look like they're clearing up to the carrier. So far, Southwest canceled only thirty nine flights for tomorrow, according to the tracking site flight aware Live in New York. I'm Steve Rappaport Bloomberg Daybreak. All right, Steve, thank you, and your local headlines are straight ahead and this is Bloomberg all right. Thanks Karen. That brings us to five thirty one on Wall Street and time to bring in Michael

barn with moura. What else is going on in New York can around the world, John, thank you very much. The National Guard went door to door in parts of Buffalo to check on people who lost power during the area's deadliest winter storm in decades. Already, about three dozen deaths have been reported in Western New York from the blizzard. Buffalo Mayor Byron Brown again, as you know, this was a historic storm, probably the worst storm that the city has seen in over fifty years, and perhaps maybe the

worst storm in recorded history. Uh. Since these storms have been tracked, Mayor Brown says a travel ban has been lifted, but a travel advisory remains in place. A rally to get rid of Title forty two was held outside the Opasso County Courthouse in Texas to protest this week's big decision on immigration. This demonstrated says she's visiting relatives for the holidays, but lives in Panama and pay his close

attention to US politics. I thought the government d not or the people who he's in the government right now, being that analyze. Yesterday's protest comes just today after the U. S. Supreme Court capt Title forty two in place. The court agreed to hear an appeal from nineteen gop led states over the Trump COVID era immigration policy that makes it harder for migrants to claim asylum. Representative elect George Santos of New York is under investigation by Long Island prosecutors

now in battle Republican amids. He lied about his Hera Didge education and professional pedigree as a campaigned for Office. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than seven hundred journalists and analysts more than one d twenty countries. Michael Barr and this is Bloomberg, John, Michael, thank you as l five very three of Wall Street time for the Bloomberg Sports Report being runt you value try State out of Dealers,

and once again here's John stown Shower. Thanks John. The Nets the first NBA team this season, the Real, off ten consecutive wins. They held On in Atlanta one o eight, one oh seven. The Hawks missed the game winning shot at the entiree, irving twenty eight points Kevin Duran at twenty six with sixteen rebounds. It's the next longest winning streak since two thousand six. Nicks off that overtime loss in Dallas played tonight in San Antonio. Rangers is at

Tampa Bay. The Devil's just lost at home to the Bruins three to one. College of St. John's lost to Xavier. Fordham beaten by Davidson, Yukon beat Villanova. The Husky's are fourteen and oh They are ranked number two in the country. Quarterback news Derek Carr benched by the Raiders. He's been their starter for nine years, but he's throwing fourteen interceptions this season. Jared Stidhom will replace him. This figures to lead to Las Vegas moving car in the off season.

Jets could be looking for QB. Washington's going back to Carson Wentz replacing Taylor Heineke. Wentz has and started since Week six. Commanders are part of that battle for the last two NFC wild card spots, Miami and New England in it for one wild Card in the a f C. They play Sunday and the Dolphins QB will be Teddy Bridgewater to its down. Belowa has his second concussion of the season. They'll play the Pinstripe Bowl at Yankee Stadium

this afternoon Syracuse against Minnesota. The Red Sox signed thirty seven year old Corey Kloomber want tu Cy Young's with Cleveland, spent this past season with Tampa Bay. Bloomberg through a no hitter in for the Yankees. John Stash Howard Bloomberg Sports John, all right, thanks for lunch on. The Bloomberg Sports Report was brought to you by Audie. Don't let somebody else drive off on the Audi model you've always wanted.

Visit your local Try State Audie dealer to get behind the wheel of yours today, or visit Audie Offers dot Com for more information. Green on the screen ahead of the cash open down. Futures of thirty nine s and P futures up twelve points. Right now the Nanazaki Minie futures up sixty six points. You're listening to Bloomberg day Break and it's now five thirty five on Wall Street. Timed out for the Tri State Business Report. And with that,

good morning to Bloombergs Gina Servetti. Starting today, New York State kicks off legal recreational marijuana sales, just ahead of its goal of launching regulated taxt sales befour years, and Housing Works in New York City based nonprofit that runs a chain of thrift shops will launch sales at a Manhattan dispensary at one astor Place. Long Island leads the biggest drop in luxury home sales on record. Red Finn says that year over year, luxury home sales in Nassau

County slump sixty six percent during the three months sending November. Nationally, those sales fell thirty eight percent as higher mortgage rates and a week stock market hurt demand for prime real estate. Still, red Finn says they're early signs that demand could pick up. And a Washington, d c. Area taco chain is expanding

into New Jersey. The Washington Business Journal reports that District Taco has signed deals with franchise operators that will add a total of sixty restaurants in several states, including New Jersey, Florida, and North Carolina. That's the Bloomberg Hie State Business Report. I'm Gina Servetti. All right, thanks Gina. Any It is now five on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by the Bloomberg

Editorial Board. To bring global emissions goals within reach, nuclear power generation will need to roughly double by twenty fifty, according to the International Energy Agency. Unfortunately, the world is moving backward in key respects. Nuclear share of global energy production declined to ten point one percent from seventeen point five percent to In the US, about a dozen reactors have shut since and more are on the chopping block. Given the looming risks of climate change, these trends are

cause for alarm worldwide. Governments need to extend the lifetimes of existing nuclear plants, work with industry to finance new ones, and redouble efforts to promote nuclear innovation. The world can't decarbonize without nuclear power, and time is running short. This editorial was written by the Bloomberg Editorial Board. For more Bloomberg opinion, please go to Bloomberg dot com, slash opinion

or the end go on the Bloomberg terminal. This has been Bloomberg Opinion Man Bloomberg Opinion editorial is gonna be heard every week day at this time terminal customers. You can read more at O P I n Go. Another story following brings us back to Elon Busk investors betting against Tesla getting the big bonanza they've been waiting for. That's as the electric vehicle maker is sent to record its worst annual performance on record, the stock down sixty

eight percent of the year. These short sellers in the company are poised to reprofits of about seventeen billion dollars. That is making Tesla the most profitable short trade of the year, and as we look right now in the pre market, Tesla shares this morning three point eight percent. You're listening to Bloomberg Daybreak live from the Bloomberg Interacted Brooker Studios. This is Bloomberg Daybreak for Thursday, December twenty nine.

Coming up the shower, new restrictions on travelers from China and for the country, scales back, COVID policies, Gullman ready for a fresh round of layoffs in the new year. Markets look for a Senate Class rally. It's a closed twenty two and Russia rose up. Peace talks with Ukraine prosecutors are investigating New York Congressman elect Santos after false claims about this background. Plus the dig out continues in Buffalo. I'm Michael Blarer. More ahead, I'm John Stash Howard Sports.

Make it ten straight for the net at one point when Atlanta the Devil's lost to the Bruins, a big East loss for st. John. That's all's trading ahead on Bloomberg Daybreak on Bloomberg eleve In, Freeo, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixty, San Francisco, Syrius XM one nine team, and around the world on Bloomberg Radio dot Com and by the Bloomberg

Business app. And good morning. I'm John Tucker and I'm Kara Moscow and US dot in Next Futures around the rise this morning. We check the markets all day long here at Bloomberg, Guess and P futures are ut fourteen points, or about a third of a Percental Future is up to tens of upper cent or sixty two points, and Aztec Future is up six tens of uppercent or sixty six points. John and Karen, let's begin with new travel restrictions targeting China as COVID cases climb of the country.

The US plans to require COVID testing for travelers coming from China. Bloomberg's Ed Baxter has details this morning. The concern comes as cases spiral upward in China and with China not releasing data, the U s as transparency has disappeared. Health officials say they are concerned about the emergence of new variants, which tend to thrive with so many new cases. The US announcement came after news reports of two flights from China into Milan, Italy, where more than half the

passengers tested positive. The passengers will be required to test two days before making their flight. The requirement goes into effect January five. In San Francisco. I'm at Baxter Bloomberg day break. All right, and thank you well. We have news on the war in Ukraine. This morning. Russian Foreign Minister Sergey love Rob says Moscow will not enter into negotiations to end the war. The hardline stance comes as Russia launched another missile barrage on major cities in Ukraine.

Former Defense Secretary Mark Esper tells US Moscow is digging in for the long haul boot and strategies to wait us out. I mean, that's why he is hammering uh Ukrainian cities, infrastructure, energy resources with ballistic missiles and drones. He wants to break the backbreak the will of the Ukrainian people. We now see he's putting a barbo if you will, on countries that put a price cap on oil. He wants to freeze them out, frees us out a little bit. Also, he is playing for Todd, thinking that

we will wobble, we will weaken. Former Defense Secretary Mark Esper spoke with David Weston on Bloomberg's Balance of Power. Catch the show weekdays in noon on Bloomberg Radio and Television. Let's turn to Wall Street Now carrying another sign of maybe an economic slowdown, Golden Sacks working on a fresh out of staff cuts. Bloomberg's Charlie Pellet reports they're likely

to come in a matter of weeks. That word from CEO David Solomon in his traditional year end message to staff, Solomon said quote, we are conducting a careful review, and while discussions are still ongoing, we anticipate our head count production will take place in the first half of January. He says there are a variety of factors impacting the business landscape, including tightening monetary conditions that are slowing down

economic activity. Earlier this month's sources said the firm may seek to eliminate as much as eight percent of its workforce or up to four thousand jobs, to contain a slump in profit and revenue. In New York, Charlie Pellet Bloomberg Daybreak, All right, Charlie, thank well to markets now. US futures are higher following two days of losses. Concerns are surfacing over the end of China's COVID zero policies, but Jonathan Gollub, head of US equity strategy at Credit Suite,

sees positive signs for the new year. The market is of the belief that no matter what the FED says, the likelihood is that the FED is going to ultimately get closer to their inflation target. And that's a positive. And that's that the market is ultimately fixated on. And I think that's why stocks are going to do pretty pretty well over the next several months. Jonathan Gala with Credit suits is as steady wages can provide some stability

in overseas. Stocks in Asia dropped overnight. Let's get the recap now from Bloomberg Daybreak Asia anchor Brian Curtis. In Hong Kong, stocks in Asia tumbled on new concerns that China's reopening would spread COVID cases around the world. There may be a day that investors embraced the reopening, but today was not that day. Equity benchmarks in Japan, Hong Kong, Australia, and South Korea all falling around one percent. Australia and Tenua government bond yields rose, the Donna was weaker, and

the yen put on games in Hong Kong. Brian Curtis, Bloomberg Daybreak. All right, Brian, thank you all. But also have news out of the Bank of Japan this morning to be o J announcing two additional rounds of unscheduled bond purchase operations. The move fights back against traders betting the b o J will further relax its yield curve control policy and taking a look at the end. Right now, it is higher against the dollar at one thirty three

point six five against the dollar. And meanwhile oil tunneling this morning it's being tied to concerns of our COVID cases surging in China. Taking a look at Branton International Benchmark down one barrel, Well John, Turmoil and the travel industry continues again this morning. The meltdown that stranded thousands of passengers shows no signs of slowing as Southwest Airlines continues canceling flights. Bloomberg Steve Rappaport joins us live at

the latest. Steve, good morning, Good morning, Karen and John. As Southwest grounds more than twenty additional flights today, analysts and unions say the travel nightmare could have been prevented. They warn't for years the carrier was playing a dangerous game by not investing in new technology. Those prophecies proved a disaster for Southwest as it struggles to recover from last week storm. Rival airlines are mostly back to normal

schedules at the White House. Wants to know why Southwest can't pick up the pace Live in New York Time, Steve Rapp Report, Bloomberg Day Break. Steve, Thanks, and we have a couple of notes this morning on the elon bust of this. Companies start with Twitter, which has restored services hours and thousands of users reporting glitches. More than nine thousand users from San Francisco to Hong Kong reported problems accessing the service, and Elon Musk is telling Tesla

employees to ignore stock market crazinesses. Comments come as analysts turn bullish on the stock. Morgan Stanley this morning says de rating the company's stock has created a buying opportunity. Shares her down sixty eight percent on the year, but this morning they're higher, up three and a half percent in early trading. And straight ahead your latest local headlines plus a check of sports, and this is Bloomberg. Thanks Karen.

That brings us to five oh seven, time for look at some of the stories making news in New York and around the world, and with app were joined by Bloomberg's Michael Barr Michael, good Morning, Good morning. John. Buffalo lifted a travel ban just after midnight. It was put in place in the aftermath of the Christmas weekend blizzard that left the city buried under more than four feet of snow. They are Byron Brown. Conditions are such that

the driving band can be lifted. We're going to keep a travel advisory in place because there will still be heavy equipment doing work. Dozens of Buffalo area residents dined in the storm. New York Congressman elect George Santos, under increasing scrutiny. Prosecutors at the federal and state levels are taking a closer look at the Republican. His lies about his past have reportedly led to a federal probe into his finances, with the questions now surfacing about seven hundred

thousand dollars used to fund his campaign. The prosecutor in Nassau County says she is looking into numerous fabrications and inconsistencies. Nearly two years after New York legalized recreational arijuana, New York City's first dispensary so op against doors to the public today. The Housing Works Cannabis Company in Lower Manhattan is a nonprofit that supports the homeless. Attorney Michael Bass says, to be aware of certain restrictions under the new laws.

It was gonna be very long lives, and my concern is people may lose patients in these lines and just go over to New Jersey to buy cannabis products and three of back to New York. Well, if you do that, you've committed a federal cry trafficking. The cannabis across state lives, so I urged folks, please don't do that. Attorney Bass also says there are limitations in terms of Graham's announces to what you can purchase in New York. The fall

out continues over the crisis at the southern border. After the Supreme Court let Title forty two stay in place for now, people in el passold taxes are protesting the extension of Title forty two. The pandemic Era policy allows the US to expel migrants back across the border without an asylum hearing. I buy twenty twenty two ahead of the Big Ball Drop Year's Eve, Good Written's Day was held in Times Square. Visitors could write down what they want to leave in the past. This man is a

cancer survivor. I find notes in January this year and went through chemo radiation surgery and many others retired of COVID Global News twenty four hours a day on air, end on Bloomberg Quick Take, powered by more than twenty seven hundred journalist and antalist more than a hundred twenty countries. Michael Barr, this is Bloomberg, John, here's my list. Michael,

thank you. Yeah. The princes five Town of Wall Spreet signed out for the Bloomberg Sports repeat a report being by by your trying to state out of you the others. Good morning, John Stashower, Good morning John, nets and Hawks in Atlanta, Hawks without three injured starters, nets right in a long morning speak. They had a double digitallyed Hawks rally. The game was tied late a minute five ago. The game four ran up top left stop to the time heait awayd for t DH six four Brooklyn w f A.

And that's made it ten wins in our own. It's their longest winning streaking sixteen years, one oh eight, one oh seven. Kyrie Irving twenty eight points fifteen of those game of the fourth quarter for Kevina and twenty six points, sixteen rebounds, eight assists, Nets Place Saturday at Charlotte. Knicks played tonight in San Antonio. Since that seven game winning street, the Knicks have lost their last four. Devils beating the Newark by the NHL leading Bruins three to one. The

Rangers visit Tampa Bay tonight. The Islanders at home for Columbus St. John's hosted Xavier, trailed by eleven and a half. The Red Storm lost eight four seventy nine now eleven and three, one and two in the Big East Ford them off to a twelve and one star for the Rams lost the Atlantic ten opener at Rose Hilt to Davidson fifty seven to forty three. Four them scored only fourteen points in the first half. There's college football in New York this afternoon, Syracuse and Minnesota the Pence Strike

Bowl at Yankee Stadium. Last night's Liberty Bowl in Memphis went triple overtime after Kansas rallied from down, but Arkansas one fifty three. The National semifinals or Saturday Michigan against TCU and Phoenix, George. You're looking to win back to back championships, taking on Ohio State in Atlanta. The winners then played January nine in l A. John Stashower, Bloomberg Sports John John, thanks very much appreciated. Bloomberg Sports Report

being brought to you by Audie. Don't let somebody else drives off in the Audi model you've always wanted. Visit your local trend state Audie the Other to get behind the wheel of viewers today, or visit audi Offers dot com for more information. Out of the cash open on Wall Street We have futures right now. They are in the green. The down futures of forty two points smp emand futures up eleven. This is Bloomberg Daybreak live from coast to coast, from New York to San Francisco, Austin

to Washington, d C. Nationwide on Sirius. Example, the Bloomberg business appened Bloomberg dot com. This is Bloomberg Daybreak and good morning on John Tucker. Concerns about the spread of COVID nineteen from China that weekend, some of the risk appetites and one of the final trading days of the year, yesterday's session, the sp almost one percent. So let's get you set up of the trading day ahead today. And we're joined by Ivy Jack, the co c i O

at north Star Asset Management joining us this morning. Ivy with the COVID risk and markets again, you have a sense of oh no, here we go again. UM. I don't know if I have a sense of oh no, here we go again. I think this is something that at least um the north Star we've been anticipating could be possible. I mean, really, the conditions for COVID are

still present. Um, when you think about the fact that we are impeding on nature, coming in contact with more of nature and more of animals, it's not surprising um that you know, we could perhaps even see another pandemic in the very near term. So again, no, we're not surprised, UM. I know we like to think the pandemic is behind us, but it's still very much with us. What if anything can you pick up from the ashes of and risk assets? What can we pick up, um? I would say that

there's going to be continued uncertainty and volatility. I think two has been a challenging year, and therefore I have heard, um some comments that you know, on the margins could get better as the said, you know, starts stepping down, the amount of rate increases, and I've heard people talk about perhaps that there is going to be you know, the possibility to the fact might actually reduce rates. So

I would say for us, we're not optimistic about next year. UM. In fact, you know, I would say we're expecting more of I don't know that I see any you know, any nuggets that could be helpful in terms of interpreting what could happen in You mentioned the FED one of some of the factors that might go into a pivot. Sounds like you're not a board with that. And just to what extent do they have to torpedo maybe the

labor market in the US before moving ahead? Yes, John, I will tell you, Look, I am not an economists, but what I can say is, you know, I think it would be UM not wise for someone um to look at what the FED is doing right now and saying that, you know, they possibly could step off the

gas next year. UM. I would tell you that I think next year is going to be challenging because the labor market is strong, and I think the SAID has made it quite clear that they plan on fighting inflation with all that they have, and so, you know, therefore, going into tree again, we're not optimistic. And then you know, as you you mentioned when we started the conversation, there's so many other factors at play, including China, whether or

not China can open um. You know how Europe deals with energy prices given the Ukraine Russian War, There's still so many variables that we just don't know about that could lead to another really really challenging year. Is it a year to stay away from risk assets? Do you have to be more selective. Yes, so I would tell you that we're focusing on quality assets. Um. You know, we're looking for socks and investments that have good management teams,

consistent earnings, strong near term cash flow. Um. So yes, you are right going into we are maintaining a defensive posture. And as far as those quality ansets, do you have specific names? Oh? And also what about bonds? Bonds? Oh? Of course, Um, this is probably one of the best opportunities we've seen in you know, a very very long time. So um, in terms of bonds, to the extent that we can go out and acquire longer duration assets, that

would be great. Um. So we don't I wouldn't say we had any specific names per se, but within specific you know, within specific sectors. Um, we are certainly looking for the higher quality assets that have strong cash flow. All right, it's time to put you on the spot. By the year ran for s and five hundred call and maybe with the we'll take the tenure. What what do you see the where they see the yield headed there? Oh? I mean you know, if I knew, I don't think

i'd be on the phone with you right now. So no, so, um, yeah, I mean I think we're going to deal a little bit higher than where we are right now, um, you know, the high three eyes to four percent UM. I think in terms of the equity market, you know, I think we're probably gonna stay steady. I think, you know, we're going to end the year in the same place. We're probably going to end the year UM in two you know, around uh thirty nine hundred four thousand. All right, I

think a pleasure appreciate it. I new Jack co c, i O at north Star Asset Management, joining is this morning, and that brings us to five eighteen Wallster. He's still a hand on Bloomberg day Break. We're gonna check the markets, bring you the latest news and business economics and finance. I'm John Tucker. This is Bloomberg. Dal futures forty four points higher, smp emity futures. They were up twelve points the Nastack futures of sixty three. This is daybreak