Bloomberg Daybreak: February 16, 2022 - Hour 2 (Radio)

York state's mask mandate ends today. I'm John Tucker. Those stories straight ahead. I'm John Stash Howard Sports. The Rangers wanted to shoot at the Islanders and Devils both lost, so did the US Olympic hockey team. That's all straight ahead on Bloomberg day Break on Bloomberg eleven, Frio, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen and around the world Old on Bloomberg Radio dot Com

and via The Bloomberg Business. Good Morning, I'm Nathan Hagar and I'm Karen Moscow. And futures are lower this morning, and we check the markets every fifteen minutes throughout the trading day on Bloomberg SMP Future as well. They're little change now, but little change to lower down about shoe down futures are about the same, down twenty two and nasdack futures down eleven right now, the ten year treasury

up one thirty second hell two point out three percent. Nathan, all right, Karen, we'll have more on the markets in just a minute. But first, President Biden says a Russian attack against Ukraine is still very much a possibility. He's warning that sanctions against Russia won't come without pain for Americans. Amy Morris has the latest from our Bloomberg newsroom in Washington.

President Biden says the sanctions envisioned by his administration against Moscow would create long term consequences that would undermine Russia's ability to compete economically and strategically. So, he says, the administration is all so taking steps to alleviate pressure on US energy markets and offset rising prices. Russian desizement bade that would also have consequences here at home. But the

American people understand that defending democracy and liberties never without cost. Meanwhile, some Ukrainian banking and government websites were hit with a denial of service attack. The US has offered to help investigate. Russian officials have repeatedly denied any plans to attack Ukraine. In Washington, I maybe Morris Bloomberg daybreak, All right, Amy, thank you. Meanwhile, a standoff over one of President Biden's nominees to the Federal Reserve is putting all of them

in limbo. Republicans on the Senate Banking Committee are blocking Sarah bloom Raskin's confirmation. They say they want to know more about a special master account that the Kansas City Fed granted to a Colorado based fintech while Raskins served on its board. Republican Senator Bill Haggard Ay sits on the Banking Committee. The more than thirty five questions where her answers provided were blanket. I do not recall or

I'm not aware in response to questions on this. So we have not gotten to the bottom of this, and we need more information, and until we do, I'm not prepared to vote on her. Tennessee Senator Bill Haggard A spoke with our Washington correspondent Joe Matthew on Bloomberg's Sound On Catch the program's weekdays at five pm Eastern on Bloomberg Radio, Well Karen. The Fed will also be in focus today with the release of the minutes from January's

policy meeting. We get more from Bloomberg's Michael McKee. Tightened Fed concern about inflation led to a sell off in bonds when the last minutes were released or repeat as possible. Investors want to know just how worried the central bankers were at their last meeting when they suggested it was almost time to raise interest rates. In particular, how far and how fast did they anticipate moving bond investors In particular, We'll be looking for any details on when and how

FED officials anticipate shrinking their balance sheet. Kansas City Fed President Estra George recently warned the process could be rocky for the markets. Michael McKee, Bloomberg Daybreak, Michael, thank you. In addition to the Fed minutes, we also get the retail sales are poor for the month of January. That's coming out later this morning. Meanwhile, in the UK, inflation

unexpectedly a seller rated for a fourth strade month. They go live to London and get the latest of the Bloomberg's Max Ramsey, Good Morning, Max, Morning, Karen and Nathan Yes. CPI in the year to January came in slightly hotter than economists and the Bank of England expected, at five and a half percent. It is a new thirty year high here in the UK, driven by clothing and footwear, and it comes as the UK faces a cost of living crisis. Now. The figures raised the stakes for the

b are and add pressure. Investors are not ruling out a fifty basis point hike when they meet in March, an unprecedented move since the bo E gained independence back in Live in London, Max Ramsey, Bloomberg day Break, Okay, Max, thank you. Inflation in Asia is also in focus. The latest data out of China show price pressures ease last month, but factory gate prices were still elevated. Bloomberg Daybreak Asia anchor Brian Curtis has more. The producer price index rose

nine point one percent from a year earlier. That was weaker than the estimate of nine point five percent, and it was down from December's reading. And the good news for policymakers is that it gives them some more room to cut interest rates. China shifted to a pro growth bias late last year. That was after the economy was hit by virus outbreaks and a slump in the property market. Consumer prices grew zero point nine percent last month from a year earlier, and that was slower than a projected

one percent increase. Bryan Curtis, Bloomberg Daybreak, Brian, thank you. Turning to the pandemic, Disney is dropping its mask mandate for fully vaccinated guests at its US theme parks starting tomorrow. Face coverings will be optional both indoors and out at Walt disney World in Florida and Disneyland in California. Masks will still be mandatory if you're not fully vaccinated. The major Wall Street firms are still grappling with how to bring employees back to the office as we come out

of the pandemic. For Goldman Sax CEO David Solomon, he says an in person office will always be an important part of the bank's identity. We get that story from Bloomberg's Charlie Pellace, speaking from the Pivot m I a conference in Miami Beach. Solomon said the office was particularly valuable for the development of employees in their twenties, who

make up about half of the firm. He noted that Goldman has established a presence in cities across the US, including in South Florida, but he said the pandemic will not prompt the Wall Street giant to provide jobs that can be done from remote locations such as Jackson Hole, Wyoming in New York. Charlie Pellet Bloomberg Daybreak, Charlie, thank you. As the debate continues on how many days workers should spend in the office, Airbnb is looking to capitalize on

the work from home trend. We spoke with Airbnb CEO Brian Sewsky, but we do think more and more people are gonna work remotely over the summer with family. They might take them somewhere, get a summer rental. But we also just think that we're gonna have three day weekends a lot more frequently for people where they might work from an Airbnb on a Friday or Monday and go away for that weekend. Airbnb's Brian Chesky says his company's fourth quarter earnings, where it's best ever, shares her up

more than three percent in early trading. Finally, Karen, we have a new big money maker on campus. Stanford University has edged out Harvard as the country's biggest college, Andrey's here at the California Institution raised one point three nine billion dollars last fiscal year. That was about ten million more than Harvard. They were the only two schools that raked in more than a billion. Rising stock markets helped

drive the donations last year. Markets are moving a touch lower this morning, straight ahead local headlines in the check of sports. This is Bloomberg and it's now six o seven on All Street where thirty degrees in Central Park. The Sunrise Highways closed both ways. John Tuckers here with more on what's going on in New York and around the world. John, and good morning, Nathan. Yeah, it's a fiery crash this morning that has closed the Sunrise Highway.

A tanker truck reportedly ran into a nearby storefront and exploded flame sprint to as many as eight stores. Starting today in New York, State will end its requirement that people entering businesses must wear masks or show proof of full vaccination. New York City mass are still required at schools and healthcare facilities, owners of stores, restaurants, theaters, or other public spaces can still require face coverings. Remington Arms will pay seventy three million dollars to families who lost

loved ones in the Sandy Hook Elementary school shooting. More in the story and the Landmarks settlement from Bloomberg's Jeff Bellinger. It is a settlement that could open the door to more lawsuits seeking to hold gun companies liable for mass shootings. The money will be divided among nine families who lost loved ones in the twenty twelve shooting in Newtown, Connecticut, that left twenty children and six staff members dead. Remington

did not admit liability in the settlement. Adam Lanza, the twenty year old Sandy Hook gunman, used an a R fifteen style rifle made by Bushmaster, a company that was owned by Remington. Jeff Bellinger, Bloomberg day Break Boeing seven eighties seven Dreamliners suffered a new blow. US regulators say they'll step up inspections of each jet before delivery, since the companies grappled with structural glitches that turned its popular

wide body jet into a drain on cash. More than one under ten of the carbon fiber aircraft have been built but left undelivered while the issues are resolved, and the York Democratic Representative Kathleen Rice says she won't run for re election after nearly eight years in office. The fifty seven year old Rice, who represents parts of Long Island,

didn't say what she planned to do next. She joins dozens of her colleagues that are retiring or running for other public office ahead of the twenty twenty two mid term elections, where Democrats of here they could lose control of the House and New Jersey betters they wagered a record onety three point seven million dollars on the Super Bowl. That's up from the prior year, even with bets being

taken in neighboring New York. For the first time, sports betting is exploded across the U s. Sence the Supreme Court allowed states outside of Nevada to offer it. In eighteen and Global News twenty four hours a day on air hand on Bloomberg Quicktake. We're powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm John Tucker is Bloomberg. Nathan. Thanks John.

Almost six ten on Wall Street tim for the Bloomberg Sports upthing with john Ston John May you think ever? The hockey shootouts Rangers and Bruins at the Garden US and Slovakia and Beijang Rangers one there as they scored on their first two attempts at the shoot album makers advantage and then r Timmy Finner and then six straight misses before ki Andre Miller scored, given the Rangers of two thrilling to the one win their first gave me two weeks at the Olympics, US led to one final

minutes scene ready to advance in the semifinals. Slovakia scored in the U s went over five and the shootout gets eliminated after going three and oh on the preliminary rout. After the NHL Islanders of Devils both lost by the same six to three score. Both gave up three goals in the third period of the Isles in Buffalo, the Saves Sabers scored three times in the last three minutes. Devil's Blue a three one League felt to Tampa Bay.

Also last night, Sidney Crosby careers gold under five hundred for Pittsburgh and NBA blowout read odd Cell thinks one than a night that a row in Philadelphia by James Harden watched from the Philly bench. He has an injured Answering said he was happy to leave Brooklyn. Harden was asked about playing with Kyrie Irving, who had has refused to get vaccinated, only recently started playing and only in

road Gamesman car really good friends. Uh, you know, whatever he is going through, he is still going through as his personal preference. But it definitely didn't impact the team because originally, you know, obviously me, Kyrie and Katie on the court, you know, and winning covers up a lot of that. Net's play a road game tonight, but it's in New York against the next vaccine mandate, means wherever

he can't play college hoops. Fordham lost other win for Iona the one Olympic disappointment in hockey, but the US one gold and silver freestyle ski johns Cash Etward Bloomberg Sports all right, John, Thanks. Futures down two tenths per cent across the board of SMP. Futures down seven points down, Futures down sixty three. Nastic features are lower by twenty five points ten. Your treasury yield two point zero three percent.

This is Bloomberg Bloomberg eleven three oh weather increasing clouds up for forties today, Late day showers possible tomorrow with the high near sixty early high Friday in the mid fifties. Temperatures will fall through the day Right now twenty nine in Central Park markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg Quick Tape He's a Bloomberg Business

Flash and I'm para in Moscow. And the global stock rally is stalling as traders struggle to evaluate the risk of geopolitical tension in Ukraine and the impact of rising

inflation on central bank policies. US dot indext futures are lower and we check the markets every fifteen minutes throughout the trading day on Bloomberg Guess and P futures down about eight points down, futures down sixties six, NASDACK futures down twenty the decks in Germany as it will change, the ten year treasury up one thirty second yell two point oh three set yield on the two year one point five six per cent. NIMEX screwed oil is up eight ten percent or seventy three cents at ninety two

dollars eighty cents in barrel comic School. That will change in eighteen fifty six thirty ounce, the euro one point one three seven seven against the dollar, British pound one point three five six seven, the ends in one fifteen point six nine, and Bitcoin movement higher at forty four thousand, two hundred dollars. And that's a Bloomberg business flash. Now here's John Tucker with more on what's going on around

the world. John and Morning Karen. President Biden says it's still possible Russia will invade Ukraine because it's troops remain at what he calls a threatening position. Well, Disney is dropping a masked mandate tomorrow for fully vaccinated gas to its theme parks in the United States. In US, regulators say they'll stamp up inspections of every Bowing seven eighty seven Dreamliner before delivery. Sports, the Rangers beat the Bruins in the Shoe nowt The Islanders and Devils both lose.

The Capital's win and the Penguins Sydney Crosby scores is five NHL goal Basketball, the Celtics beat the seventies six ers by forty eight points. Global news twenty four hours a day on irund on Bloomberg Quickday Power by more than twenty seven hundred journalists and analysts it more than one hundred twenty countries on John Tucker did He's Bloomberg? Nathan Okay? John? Thanks at six nineteen on Wall Street Line from the Bloomberg Interactive Broker Studios. This is Bloomberg

Daybreak and Tracy McMillian is with us now. She's head of Global Asset Allocation Strategy at Wells Fargo Investment Institute. Tracy, it's great to have you with us this morning. Although the market seemed to be focused on geopolitical risk right now, with futures slightly lower and headlines continuing to come down, where do you see these markets shaking out here? Do we have more risk premium to be priced in to

come well? Thank you for having me this morning, Nathan. Yes, we you know, we're seeing inflation and geopolitical events both driving market volatility this week. But you know, earnings have come in very strong this quarter and we do think that you know, that is going to underpin some higher

equity prices probably later in the year. But today investors are going to be watching retail sales and they're going to be watching for the FED minutes, UM for any signs that uh, you know, retail sales maybe uh weaker than expected. They're um, you know, expected to come in with a bit more strength than what we saw last month, but you know, m because consumer sentiment is deteriorating, and disposable income um has also been uh coming in a bit lower. That is possibly gonna set us up for

a disappointment and retail sale. So you know, retail sales FED minutes are the things we think investors will be watching too. How do you think the FED will react to those latest data points? So obviously we got the much higher than expected producer prices yesterday, and if we do see weakness and retail sales, could that be something that moves the FED to become even more aggressive than

markets are pricing in right now. Yeah, we we do think that because the Fed has seen upside surprises in both of their mandates, that does perhaps put it on a more aggressive path this year. Um. But you know, the SAD doesn't want to surprise the markets, and credit markets so far been pretty well behaved. And they don't want to risk a major disruption there. So, you know, if the SET is going to raise interest rates by fifty basis points, then we think they're gonna have to

start communicating that pretty soon. And we really haven't seen the FED governors come out to nor have we seen Powell or Brainerd starting to signal a fifty basis point in prease. But if we do hear, you know, anything from the governors or Powell or brainer then we need to start taking that fifty basis points pretty seriously. So what's your conviction on what the FED could do at the March meeting? Do you have conviction at this point on whether the Fed's gonna stick with twenty five or

or could they go to fifty. So we think that the Fed is probably going to stick to fifty five in March again, unless they start preparing markets almost immediately. And because we really haven't heard that um coming from uh, the top level of the FED yet, we're we're sticking with twenty five for now. Okay, In terms of earnings, do you think of earnings can continue to underpin valuations

even with a less accommodative central bank? So earnings, like I said, are coming in really strong this quarter, about up about twent We think that's going to model rate down to about five to ten percent this year, but we do think that will be enough to underpin higher prices by the end of the year. We think that UM by year end, the S and P five hundred should see about two hundred and thirty five per share and earnings UM, and we think that that's good upside

from here. So, you know, we're telling investors to take advantage of any significant weakness and markets that we might see. You know, as we are dealing with UM, a change in sad policy and geopolitical events that are spooking investors. So in a last minute here, does that mean that make a cap tech stocks still look attractive? Are you looking for further rotation into value? So we do continue

to like technology UM. We are moving up in quality and we feel like technology companies are still generally posting high quality earnings UM. We think that higher rates in technology stocks are are probably pretty priced in by this point and we don't see rates going a lot higher from where they are. So we we do think that UM. You know, as companies continue to digitalize and try to improve productivity, in the face of labor shortages. That technology

is an interesting space for us. Good to get your thoughts this morning, Tracy, Thanks again for being with us. Tracy McMillian is ahead of global asset allocation at Wells Fargo Investment Institute. Looking at the markets right now, I think we can call it jittery. SMP futures are down six points, staff features down sixty two, NASTAC futures lower by thirteen points, the tenure treasury up one thirty seconds, with the yield close to two point zero four percent.

Yield on the two year one point five six as investors continue to watch headlines on the Ukraine standoff as well as waiting the release of the retail sales figures coming out in just a couple hours, and of course those fed January minutes stay with us for more. This is Bloomberg Bloomberg eleven three oh Weather clouds will increase with eyes in the upper forties today, upper fifth east tomorrow, with late day showers early high in the mid fifthiaest

Friday of the temperatures will fall through the day. Right now twenty nine in Central Park, broadcasting live from the Bloomberg Interactive Broker studio in New York, Bloomberg E Looving Freedom to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg nine sixty to the Country, Sirius XM to the one ninet and around the globe the Bloomberg Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak and at six thirty on Wall Street.

Good morning. I'm Nathan Hager and I'm Karen Moscow, and we are just about three hours away from the open of US trading. Time for the five Things you need to know to start your day, brought to you by Interact your Brokers Global Analysts. Global Analysts helps you find new global investment opportunities to diversify your portfolio and discover

undervalued companies that may have greater growth potential. Try ib k our Global Analysts today at ib k R dot com slash g At first, the situation in Ukraine remains front and center this morning. President Biden says it's not verified that Russia's pulled troops back from the border with Ukraine,

and Bloomberg's and Baxter has the story. President Biden says, so far, intelligence is not showing it, and the fact remains right now, Russia has more than a hundred and fifty thousand troops and circling Ukraine and Belarus along Ukraine's border. An invasion remains distinctly possibly. Biden says if that happens,

russiall be held responsible globally for death and destruction. He says sanctioned packages are in place and that the overriding issue that governments have is the right to plot their own destinies. In San Francisco, I'm at Baxter Bloomberg Gay break, all right, thank you. Meantime, there's a standoff on Capitol

Hill over President Biden's Federal Reserve nominees. Republicans on the Senate Banking Committee have questions for one of them, Sarah bloom Raskin, and her role on the board of a fintech. Raskin is the President's picked for FED Vice Chair for supervision. Well, this afternoon, Nathan, the FED releases minutes of januaries meeting on monetary policy. We get the story from Bloomberry's Vinidale Judais.

Bloomberg Economics says the minutes could reveal whether the FED has an appetite for a half point March rate increased the battle inflation. Such sentiment could explain hawkish comments by FED chairs Rome Powell following January's policy meeting. Recent speeches by FED officials have also been hawkish and signal central

bankers are open to aggressive action. With inflation running at the fastest patents to early nineteen eighties, The FEDS March meeting is set for the fifteenth and sixteenth Vinnie delle Judais Bloomberg day break All right, Vinnie. Thanks. In the UK, inflation unexpectedly accelerated for the fourth month in a row. Annual rice growth in January rose to five and a half percent, a new thirty year high. And on the earnings front, Nathan shares of Airbnb up more than three

percent in early trading. The San Francisco based travel company beat revenue and profit estimates in the fourth quarter. And as the five things you need to know to start your day brought to you by Interactive Brokers, Futures this morning lower SNP Future is down five points down, Futures down fifty five nasdag Future is little change down about seven straight ahead your latest headlines, as well as a check on Sports and this is Bloomberg. Okay, Karen, thank you.

Six thirty three on Wall Street, thirty degrees in Central Park. Big problems on the Sunrise Highway closed both ways of Rockville Center. John Tucker's here with more on what's going on in New York and around the world. Good morning, John and Nathan. Rockville Center on Long Island. The side of that nasty fire the sporting he had erupted when a tanker truck traveling on the Sunrise Highway veered off into a storefront. All the flames reportedly have spread eight

other stores. No word yet on injuries. Another side, the US increasingly sinking to live alongside the coronavirus. We get to tales this morning from Bloomberg's Lisa Matteo. New York State today will end its requirement that people entering businesses must wear masks or show proof of full vaccination, and beyond New York, Walt Disney is dropping a mask mandate for fully vaccinated guests to its theme parks in the US.

Face coverings will become optional for inoculated visitors in both outdoor and indoor locations from Thursday, According to a statement posted on the Disney World Website. Masks will remain mandatory for those who are not fully vaccinated. The decision comes just days after Universal Orlando ditched its mask requirement. Lisa Matteo Bloomberg Day Break a discovery under a stairwheel at

an upstate New York home. A little girl reported missing more than two years ago when she was just four has been found alive more than one fifty miles from where she disappeared. Please say they found six year old Paisley Sheltas in house in Sogads, New York, huddled in a cold went space under the stairs. The Socrates Police Chief nobody was leaving without that child. They we honestly believe that that child was there, and of course, at the end of the day, that's exactly what the case was.

They say she was abducted by her biological parents who lost custody in tin Stanford University has raised one point three nine billion dollars in the last fiscal year, the most among US colleges, and it narrowly edges out Harvard University for the top fundraising spot. The perennial fundraising Rivals were the only schools to raise more than a billion dollars in the twelve months. JOHNS. Hopkins University in Baltimore ranked third with nine thirty point nine million dollars raised.

Former Alaska gather Sarah Palin has lost her defamation case against The New York Times for a second time, with a jury in Manhattan Federal Court finding for the newspaper, a day after the judge in the case said he throw out the case anyway because of weak evidence and record.

Gun seizures last year at US airports are coming under scrutiny, and Congress t s A officers come almost six thousand firearms at two hundred sixty eight airport security checkpoints across the country, about an eight three spike from the year before. Global News twenty four hours a day on Airona Bloomberg Quick Take power by more than twenty seven hundred journalists and analysts. It more than one hundred twenty countries. I'm

John Tucker. This is Bloomberg, Nathan. Thank you, John, coming up to sixty six on Wall Street and John Stashire has a Bloomberg Sports update. All right, Nathan a scheduling court. The Rangers had their bye week right after the All Star breaks, and they went two weeks without a game at the Garden. They fell behind the Bruins early on, tie the game third period and went to a shootout. And in the ninth round at KeAndre Miller goal gave the Blue Shirts at two one victory over Boston Islanders

in Buffalo. Game was tied with three minutes left. Savers scored three times in the last three minutes and one six to three. Devils led three to one Tampa Bay. I'll so three in the third also one six three career goal number five hundred for Sydney Crosby of the Penguins. NBA Celtics ninth gree win by forty eight in Philadelphia six was just made the big trade with the Nets. James Harden won't debut in Philly until next Week's got an injured hamstring and it's not known when Ben Simmons

will start playing for Brooklyn. Hasn't played all season. Simmons played poorly in last year's playoffs. Criticized heavily. He admits he's been dealing with mental health issues. There's a bunch of things I was dealing with as a person in my personal that I don't really want to go into depth to depth with um. But Yeah, I'm here now, so you know, it's a blessing to be, you know, in an organization like this, and you know, I'm just looking forward to get back on the floor and building

something great here. Nets played the Knicks to night at the Guard at the Olympic. The young US hockey squad who went three and on the preliminary round, beating in the quarterfinals by Slovakia who tied the game of forty four seconds less than one weeks to want to shoot out Americans Alex Hall Nick Deepper one Golden Silverfie spouse Matt Harvey on the witness stand, former employee of the Angels on trial for providing the drugs that killed the Angels.

Pictures Tyler Skaggs. Harvey was Skaggs as team ma Andy admitted they both used opioid. John Stack and Bloomberg Sports. Okay, John, thank you. It is sixty seven on Wall Street. Time now to take a look at stock some of the names moving in the pre market with Bloomberg Radio and TV markets correspondent Creedy goop dat Creedy looks like investors like the outlook from Airbnb. Yeah, things are turning around. When it comes to that pandemic trade. I've got two

stocks to show that dynamic here. Let's start with Airbnb, though a b nb is the taker, up three percent in the pre market. This comes after they beat revenue and profit estimates in the fourth quarter, reporting a net income of fifty five million dollars. Nathan, compare that to a loss of three point nine billion dollars a year ago. I think it's safe to say people are traveling again,

and that's of course working well for Airbnb. Let me tell you the other side of that pandemic trade though, the idea of essentially some of those names, so we're performing really well when people were in lockdown, and the chief among them is going to be those uh the gaming sector in particular, Roadblocks comes to mind rb l X as your taker, down sixteen percent in the pre market. They also reported earnings after the bell yesterday, reporting bookings

actually that missed the analyst estimates. That also rose from a year ago to seven hundred and seventy million dollars. But compare that to the analyst estimate of seven hundred eighty six million, and you can see why investors are a little bit disappointed. But to the point of the Airbnb story. It is also a reversal of that pandemic boost over the last two years ago, the CEO urging investors to take the long view on the game platform company as opposed to just a pandemic name. Interesting to

see those dynamics shift. What other earnings are you looking at? Well, let's look at Toast, which has is Toast I should say t O s T slumping sixteen percent. I stole that joke from Matt Miller. I know it's kind of crazy. Toast. It's a restaurant focused payments company. They reported a mixed quarter, showing a wider per share loss in the fourth quarter than Wall Street expected a but higher revenue. So this is once again something that's far more exposed to the

restaurant sector. We know that those restaurants haven't been coming back, and Toast kind of riding that wave. I'll end here Nathan with pin doo doo. We gotta keep an eye on those Chinese A d R s P d D

is the taker for the shares up two percent. Getting a little bit of an upgrade here from City writing in a note that's upgrading it to a buy from a neutral, saying that shares are attractively valued following the decline in the third quarter and after the global tex stele off, seeing some buyers go back into the Chinese market, Nathan, and so not all the stocks are toast morning okay, bloombergrade on TV Markets correspondent Krety Gupta and as we take a look at stocks as a whole ahead of

the open geo politics the focus for investors on a broader level. Right now, S and P futures are down but a little change down almost three points now down futures down thirty one points. NASTAC futures actuating between games and losses. Right now, the tenure treasury is up three thirty seconds now with the yield two point zero three percent in the yield on the two year right now

just chy at one point five six. Get the very latest developments on the Ukraine situation and more from the nation's capital with Bloomberg government reporter Emily Wilkins joining us next. This is Bloomberg Bloomberg eleven three oh Weather. Clouds increasing today with highs in the upper forties. Late day showers possible tomorrow after fifties early highs in the mid fifties Friday, with temperatures falling through the day. Thirty is our current

temperature in Central Park. Markets. Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business App, and at Bloomberg Quicktake. This is a Bloomberg Business last and I'm part Moscow. And futures are a little changed to lower this morning. Let's go to the first word breaking news. Das for today's morning call, here's Bill Maloney, Bill, good morning, Hey, good morning, Cannon. That's right. U s features are quiet right now with doubt. Futures

down thirty five points. Subs dropped three and a half we than as Dick. Features are lower by just a point. The US ten year old at two point oh four percent. Gold and oil are both little changed. Bitcoin is trading higher by point four percent. Japan rose two point two percent overnight, while up markets are also quiet this morning.

And back in the US on the economic frontday thirty retail sales and at two o'clock minutes from the f O m C. After belast night, Airbnb beat estimates by com CBS missed, and a deal news Sea World's bid proceedar Fair was rejected, rapping things up. Echo Lab was

raised to neutral at JP. Morgan Selony's was cut to neutral over at Piper Live from the first Breaking News that's gone, Bill Maloney, Karen, all right, Phil, thank you and your live breaking news over your Bloomberg type squawk on your terminal s qu A w K and that's a Bloomberg business flash. Now here's John Tucker with more on what's going on around the world. John, Good morning, Karen. President Bend says it's still possible Russia will invade Ukraine

because its troops remain in a threatening position. US regulators say they'll step up inspections of every Bowing seven eighty seven Dreamliner before delivery. Walt Disney dropping a masked man date for fully vaccinated guests to its theme parks. In the US sports, the Rangers beat the Bruins and the shootout Islanders defeat the Devil. Islanders and Devils both loose and the Capital's win and the Penguins Sydney Crosby scores is five NHL goal And in basketball, the Celtics beat

the seventies six years by forty eight points. Global News twenty four hours a day on air in the Bloomberg quick tape powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm John Tucker. This is Bloomberg. The following commentary is from Bloomberg Opinion. A deep dive into cryptos cure for the Texas Power Grid. I'm Liam Denning. A calmness for Bloomberg Opinion. A year ago, a sudden optic freeze out the Texas

power grid. Now, bitcoin miners say they can help strengthen it. Mining cryptocurrency is energy intensive, which puts more pressure on power grids, but miners say they can turn their demand up and down quickly depending on the overall demand for and price of electricity. In theory, their extra power needs should encourage more generation to be built, and their flexibility

should be valuable when disaster strikes. However, it is unclear as to whether any developer of say a new wind farm, would break ground on the premise of crypto mining raising power demand for the next twenty years. Above all, despite the hype, bitcoin shouldn't overshadow more straightforward fixes for Texas grid. I'm Liam Denning. For more opinion, please go to Bloomberg dot com. Slash Opinion or O P I n go

on the Bloomberg terminal. This has been Bloomberg Opinion and Bloomberg Opinion commentaries can be heard every weekday at this time, and terminal customers can read more at O P I

n go. It is six fifty on Wall Street. Returned to news in science and technology now with a Bloomberg and j I T. Stemmer report brought to you by New Jersey Institute of Technology, ranked a top fifty national public university by US News and World Report and a top fifty college for undergraduate entrepreneurship studies by the Princeton Review. Learn more at n j I T dot E d U. Here's just making news and science, Technology, engineering, and math.

China's president Shei Jinping has ordered Hong Kong to get the city's coronavirus outbreak under control by all necessary means. That's an unusual intervention that could lead to stricter measures and possibly a broader lockdown. She's remarks came after Hong Kong Chief executive Carrie Lamb said the outbreak and overwhelmed the government. Alphabet's Wing Unit elevated its leading technology official to had the company as it seeks to rapidly expand

its drone delivery operations. Adam Woodworth, who has spent his entire career designing new age aircraft, was named Wings Chief executive Officer. Wing has become what it calls the world's largest residential drone delivery service. In the first six weeks of this year, the company said it as performed twenty five thousand deliveries by drone. That's a tenfold increase over the same period last year. And then a Platform CEO Mark Zuckerberg calls the company's employees metamates and a new

memo on corporate culture. The founder of Facebook changed the company's name in December to reflect a new found focused on the so called metaverse. And that's a Bloomberg n J I T Stem report. You have to learn a whole new language here. Nathan's gonna say, that's gonna take a little bit of getting used to. Thank you. Karen, six fifty one on Wall Street and we are live from the Bloomberg Interactive Broker's studios. Time now to check

what's going on in DC. Some of the top stories there include President Biden warning the threat to Ukraine remains fed nominees in limbo on questions about Sarah Bloom Raskin and Democrats vowing to curb inflation. As Republicans say, I told you so, Let's bring in Bloomberg. Government reporter Emily

Wilkins starting off with the latest on Ukraine. Emily, it does seem as though the president is in trust but verifying mode, and we continue to watch these headlines cross raising doubts about whether Russia is following through on its claims that it's pulling back from the Ukraine border. Yes, at this point, I mean, it doesn't seem like anyone else's verifying claims. Okay, are moving troops back that if our Arny troops that removed, they were troops that were

not positioned close to the border. Um. And therefore there's still a lot of questions about whether that counts as a de escalation. UM. Still a lot of concerns. Obviously, Biden spoke to the American people on this yesterday, UM sort of really focusing on the fact that he does still feel like there is a diplomatic option, but also just kind of mentally beginning to prepare Americans for what it might mean if Russia does cross into Ukraine and

there is a resulting war. You talk about energy prices, saying that you know that could wind up impacting gas prices, and that Americans could feel that he was very honest and open on that particular point. Um. He's also he and other people in his in station have also talked about cyber attacks on Ukraine that have hit Ukrainian things, the Defense Ministry, UM, other websites, UM, including some some big ones for Ukrainian people where they have a lot

of sensitive information stored. And the US has offered to help Ukraine really investigate and respond to those cyber attacks. All right, well we which we will. We watch this standoff continue near the Ukraine border Emily. We're also watching a standoff on Capitol Hill over one of President Biden's Federal Reserve nominees and it's got pretty much all of his slave in limbo for now. Yeah. The their Democrats are planning to move all of Biden's five nominees together.

The concerns that Republicans have over Sarah Bloom Raskin, and yesterday there was supposed to be this vote on this committee that would send these dominies to the House to the Senate floor. Or at least begin that process. The

Republicans denied Democrats of quorum. None of them showed up than the top Republican on the panel, Senator pat to me, he said that he would continue to block a block these nominees until he gets more information about why Canada at the Kansas City said granted this a master account to an Ohio fintech company where Arraskin served as director.

In our old concerns that Arraskin might have used behaved improperly or might use her FED position improperly to benefit companies that that she has a link to or that she believes in the mission. Raskin has denied this multiple times. The White House has said that they looked into the

incident everything was above board. But Republicans are still having their concerns and they're showing their ability to use their muscles here and really delay not just Raskin, but bidens for other FED nominees, including Powell and meantime, Emily, we're seeing some moves from Democrats now to at least try to tackle inflation while these questions swirl around what the FED doing, and uh interesting to see the Republican reaction to some of what the Democrats are doing here. Yeah, Democrats,

particularly Democrats based in the tough races. UM, they proposed legislation that was sent the federal eighteen cents per down gas tax until next year. UM. And Republicans have basically, you know, immediately shot that down. UM. They said it's a by Democrats seek political cover. Just the South Dakota Senator John Soon called it desperate cry for help. So it doesn't seem like that's necessarily something that's going to be done, although Schumer could try and push it through

if they wind up getting uh A fifty votes. I mean, at this point, Democrats are kind of locked in on a number of things. They're still trying to figure out how to move forward with the Build Back Better package. UM. They're questioned about what the future of the U. S. China competition Village Senate and Hou. They're supposed to be negotiating on that, but we haven't heard a lot about

the future of those formal negotiations. UH. And the Demo have to really the understand that inflation is going to be a big concern that it's going to it's a huge liability for them as they go into the midterms. That's something Republicans are really going to capitalize on, and so they are looking for solutions like the suspension of the gas tax that they could they would give Americans a little bit of uh ease and relaxation on prices.

All right, Bloomberg Government reporter Emily Wilkins, As always, thanks for the update, and you can read more about all these stories of Bloomberg dot Com or on the Bloomberg terminal. Listen to Bloomberg Radio in Washington Bloomberg one and one oh five point seven FM h D two Karen Nathan It at six fifty six on Wall Street. This is Bloomberg Day Break. February is Black History Month, and every day this month were celebrating significant moments in US black history.

Now with your installment for February sixteenth, here's Bloomberg's ny to go on this day in Black History. In nineteen fifty one, the New York City Council passes a bill prohibiting discrimination against African Americans and city assisted housing. The bill was main we directed at the Stuyvesant Town Housing project. At the time of public private partnership. Project managers of that development prohibited black tenants who had been active in

the campaign to stop racial discrimination. Lawsuits were filed claiming that the project was public horse semi public, and thus violated anti discrimination laws from New York City public housing, which were rarely enforced. One month later, the Brown Isaacs Bill became law in New York City. That's today in Black History. I'm ny to young Bloomberg Radio, all right, rany to thank you and SMP futures are little change

this morning, So are NASDAG. Future is down, Future is Down thirty five Bloomberg Surveillance is Straight Ahead with Tom Keene, Jonathan Farrell and Lisa Abramos for Nathan Hagar, I'm Para and Moscow. This is Bloomberg.