Bloomberg Daybreak: February 2, 2022 - Hour 1 (Radio)

in an ambush and Harlem. Plus Russian President Putin speaks out about Ukraine. I'm Michael barn More Ahead, I'm Tom stashdown Sports. Tom Brady officially retired a blockbuster NFL lawsuit,

The Nets lost, the Rangers warm. That's all straight ahead on Bloomberg day Break on Bloomberg Elementoro, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine six, San Francisco, Sirius x M one nineteen and around the world along Bloomberg Radio dot Com and via The Bloomberg Business. Good morning, I'm Para in Moscow. I'm Nathan Hagar Bloomberg Daybreak brought to you by s ELI Challenges highlight one's

character of partnership and resilience. At SEI, they act as one community with their clients. Go to se i C dot com, Slash banks and US futures are gaining this morning. We check the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, SMP futures are up thirty seven points down futures up forty nine. Nasday futures up two dty one. The ten year treasury little change at one point seven eight percent. They yield on the two year is at one point one is six percent. The

euro one point one three against the dollar. Nathan well Karen boosted NASTACK futures comes in part thanks to corporate earnings. Let's begin with Alphabet. The shares are up more than ten percent. The Google parent beat profit and sales estimates and announced a stock split at Ludlow joins us with the details from our bloom Ignined sixty newsroom in San Francisco.

It was a beat on the top and bottom line for Alphabet, the parent company of Google, and all signs really points for a resilient advertising business, but really it was news of the stock split that drove activity and

after hours for Alphabet. The company is doing a twenty for one stock split in the form of a one time special stock dividends, and as part of that split, Google's parents going to give one tenth of ascent for each share of the company's Class A, Class B, and Class C stock, and Ruth Parrat, who is Alphabet CFO, told Bloomberg that the rationale here is to widen the net and make the stock more accessible to investors. Ed

love Low, Bloomberg News, San Francisco, Thank you. Adding to the bullish sentiment this morning is a MD. Shares of the chip maker are up almost eleven percent. The company had a surprisingly strong sales fourcast, suggesting it's making further gains unrivaled Intel. We're also watching shares of General Motors Care and they're up less than one percent. GM earning stock dust and it's while it's outlook for two remained unchanged.

We get more from Bloomberg's Charlie Pellace. GM is seeing signs of an easing in the semiconductor shortage that curbed a vehicle output and dent at its market share last year. But it's cautioning sales and profit for twenty two maybe little changed. GM was hit among the hardest in the fourth quarter, when a forty three percent drop in domestic sales forced the company to relinquish its crown the top us automaker for the first time since in New York.

Charlie Pellett Bloomberg Daybreak. All right, Charlie, thank you. We'll have more on GM later this morning on Bloomberg Surveillance. Will be speaking live with the CEO, Mary Barrap. That's coming up at nine am Wall Street time on both Bloomberg Radio and television. Nathan Earnings continue to roll in today when nearly three dozen companies reporting and heading the list as Facebook owner Meta Platforms. We get a preview from Bloomberg's Tom Busby in its first earnings report under

its new corporate name. Facebook's owner, Meta Platforms, is expected to report a burst in digital advertising revenue last quarter and solid holiday sales of its Oculus VR headset. Bloomberg analysts forecast total revenue of thirty three point four three billion dollars, a nine percent jump from a year ago,

with nearly all of that from advertising. Look for earnings per share of three dollars four cents, and on the earnings call, expect the company to be pressed to better explain the metaverse, the virtual reality platform it's basing its future on. Tom busby Bloomberg Daybreak. Okay, Tom, Thanks. Turning from earnings now. Markets are also getting a boost from the Fed. Central Bank officials are laying out a measured

approach to the path for rate hikes this year. We get that story live from Bloomberg's Greneda Young, Good morning, Granita, Good morning Nathan. The measured calls from FED leaders are different from Wall Street forecasts, which include as many as seven rate hikes this year. Some even predict a fifty basis point hike next month. So far, none of the Fed officials speaking this week have backed the idea of

such an increase in March. The most hawkish of them all St. Louis FED President it James Bullard says five hikes is quote not too bad a bit. Kansas City Fit chief Esther George is another hawk, and she says ideally the Fit prefers to go gradually live in New York. I'm gonned a Young Bloomberg Daybreak. I need to thank you, Fede officials will be paying close attention to this week's economic data. This morning, we get the first at three

reports on the labor market. We could see a dramatic slowdown in business hiring when a DP issues January payroll data. Economists surveyed by Bloomberg anticipate a gain of less than two hundred thousand, and Bloomberri's Benny down Juda's reports. Bloomberg Economics says January's ADP data will point to a slowdown and hiring reflecting the impact of COVID nineteen Armicron infections

on businesses. February could usher in a recovery. In December, a DP reported businesses added more than eight hundred thousand workers, the most its May, though official government figures were less robust. Bloomberg Daybreak al right, Vinnie, thanks. The big labor report comes on Friday with fronament payrolls data for January. The Biden administration's lowering expectations on that as well. The White House says fallout from Omicron could overstate the number of

unemployed people. Jared Bernstein is a member of the White House Council of Economic Advisors. If you're not on the payroll, meaning you're sick or you're absence, so you're on some sort of unpaid leave, you're not going to be counted on the payroll for the payroll survey. And the fact is um virtually all of those folks likely still have their jobs, so when they go back in February, they

will be counted again. Jared Bernstein with the Council of Economic Advisors spoke with our Washington correspondent Joe Matthew on Bloomberg Sound On. You can catch the program weekdays at five pm Eastern on Bloomberg Radio. Well Nathan Oil also and Focus. This morning, it is trading near a seven year high ahead of an OPEG plus meeting. Oh Peck and its allies are expected to approve another modest oil output increase today, at the same time they could struggle

to actually deliver that cut. Checking prices now, nonm ex scrude oil is down about a tenth of a percent. It's down nine cents a d eight dollars eleven cents of barrel Brent is at eighty eight dollars. Stock futures are moving higher, Karen, led by the NASTAC. NASTAC futures up two hundred forty two points or one point six percent. S ANDP futures are up thirty six points down, futures up forty two. Straight ahead your latest local headlines in

the check of sports. This is Bloomberg. It's out five oh seven on Wall Street where thirty four degrees in Central Park, dealing with a water main breaking seat bright. It's a North founder A three thirty six by Atlantic Way. Details coming up the traffic First. Michael Barr is here with more on what's going on in New York and

around the world. Good morning, Michael, Good morning Nathan. A sea of blue is expected again today in New York City at the funeral for Officer Wilbert Mora, the second of two n y p D officers killed in the line of duty last month. Awake for Maura, who was twenty seven, was held yesterday. He was killed during a domestic disturbance call in Harlem along with his partner, Jason Rivera.

More as funeral will be held at St. Patrick's Theedral this morning in Midtown Manhattan, followed by a burial in Woodside, Queens This as, an off duty NYPD officer was shot in Queen's last night he's expected to survive. In my p D, Commissioner Keachin Seul talked about the latest shooting. This young man was on his way to work, on his way to protect New Yorkers from criminals. Commissioners Sewell

was alongside Mayor Eric Adams speaking to reporters. These offices every day put on their uniform and a shill on their chest, put their bulletproof fest on and go back in the streets. With all of that frustration, they still go back and do their job. Now it's time for lawmakers to do their job. Mayor Adams is getting ready to host President Biden tomorrow for a discussion about gun violence. Russian President Vladimir Putin accused America and the West of

ignoring Moscow's security concerns in the Ukraine controversy. Secretary of State Blincoln's speaking with Russian Foreign Minister lab Roth, says it was time for Russia to start withdrawing its troops from the border. No breakthrough, but the two agreed to talk again. White House spokesperson Jen Psaki the door to the plomacy remains open. We don't know what decision President Putin will make. Spokesperson Jen Psaki a Democratic senator has

suffered a stroke. His doctors say u S Senator Ben Luhan, who is forty nine, is expected to fully recover from a stroke and surgery to produce swelling. However, with a Senate it has put a number of Democratic lead votes on hold for now. A major winner storm is expected to affect a huge swath of the US, with heavy snow starting in the Rockies and freezing rain as far as south as Texas before it drops snow and ice on the Midwest. Speaking of which, it is Groundhog Day.

People in Pennsylvania waiting to learn whether punksatani fill at rodent but will predict an early spring or six more weeks of winter. Global News twenty four hours a day on air. I'm going for the winner and by more journalists, analyst more than countries and Michael barrd this is Bloomberg name it safe bet after all we've seen this winner. Thanks Michael, and we're coming up to five ten on Wall Street. Time for the Bloomberg Sports Update with John Stash.

Thanks day. Then, the greatest player ever retires and it may not have been the biggest NFL story of the day. Tom Brady made his retirement official in a lengthy post on social media that curiously never mentioned the Patriots, but you're canna expect Brady's number twelve to be retired at

a Pat's game next season. Tampa Bay now needs a quarterback. Meanwhile, a lawsuit filed in Manhattan Federal Court by Brian Flores, recently fired as the head coach of the Dolphins, excusing the NFL and three teams Miami, Denver, and the Giants

of racism and their hiring practices. Flora said in two thousand nineteen in Denver, just recently with the Giants, he was interviewed for a head coaching job that he had no chance of getting, and he offered as proof a text he got last week from Bill Belichick, who apparently mted to go to Brian dayball. He congratulated him on getting the Giants job. It was before Flores even had

his interview. Perhaps most shocking, Lee Flora said, Dolphins owner Stephen Ross offered to pay him more money if his team lost so they could get a better draft pick. Nets and Phoenix Sons of one forty of their last forty six. They beat Brooklyn eleven, Devin Booker thirty five points. Rangers at the Garden beat Florida five to two, more goals both on the power play for Chris Cried are now thirty three goals on the year, more than half

of those with the man advantage. Islanders back to five hundred four one over Ottawa Devil sixth raight loss, beaten by Toronto seven one. St. John's lost the biggest, leading Providence eight six eighty two. Pash Alexander twenty nine points of the red storm. Seaton Hall won at Georgetown. Rutgers came from twenty four down to force overtime but lost

by a point. At Northwestern John stash Award Bloomberg Sports Nathan all Right, John, thanks futures moving higher, SMP futures up thirty four points a town futures that futures hired by two hundred thirty six points ten your treasury yield one. This is Bloomberg Bloomberg eleven three oh Weather mix of sun in clouds today with a high near forty five degrees, afternoon, rain tomorrow, mid forties at rain a Lenda's wet sleet or snow Friday with higher thirty five currently thirty four degrees.

Markets headlines, and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktake, This is a Bloomberg Business flash and I'm Karen Moscow. And global stocks are headed for the biggest four day rally since November of US DOT Index futures are jumping as a con as companies from the US to Europe report better than forecast earnings and dip fine continues and

technology shares. We check the markets every fifteen minutes throughout the trading day on Bloomberg and right now, S and P futures are up thirties seven points down. Future is up fifty nasdack features up two hundred thirty five. That's up one point six percent. The decks in Germany's up half percent. Ten. Your treasury up to thirty seconds, you had one point seven eight percent. They yield on the

two year one point one six percent. Nine. Mex screwed oil is up a quarter percent, or twenty cents at eighty eight dollars forty one cents a barrel. Co Mex School the tenth of upper cent or two dollars fifty cents at eighteen o four twenty announced the euro one point one two nine seven against the dollar British found one point three five four two, the ens at one four teen point three six, and Bitcoin this morning moving lower at thirty eight thousand, four hundred sixty dollars. That's

a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Munchael, Good morning, Good morning, Karen. Us. Hospital admissions for COVID nineteen are receiving in thirty four states and the nation's capital, easing the healthcare staffing crisis that were widespread at the start of the year. The World Health Organization warren countries, though

not to ease restrictions prematurely. For Miami Dolphins coach Brian Flores is suing the NFL and three teams, including the Giants, claiming quote the NFL is racially segregated and has managed much like a plantation. The Dolphins fired Floors last month after back to back winning seasons. The lawsuit even accuses Dolphins owner Stephen Ross of offering to pay Floors a hundred thousand dollars for every loss during the twenty nineteen season to secure a higher draft pick in the NBA.

The Nets and Wizards lost, the Warriors one, NHL Action, the Rangers, Islanders and Bruins one, the Capitol's one an ot against the Penguins for three the Devil's lost. 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 Naked Fine. Michael, thank you. We're coming up to five twenty on Wall Street Life from the

Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreaking. Michael Houston joins US now chief Market analyst at CMC Markets. With a definite risk on field, Michael, particularly if you're a tech investor. I guess it doesn't hurt when the Google parent Alphabet comes in with really solid earning. Spoken this kind of momentum continue on the tech side. Um well, I think I think that's a question that a lot

of people are currently asking. We've seen a fairly decent rebound over the course of the past three or four days, but I think the wider question is whether or not markets of adequately priced in fed rate rise expectations, and ultimately, I think one of the reasons why we've seen the rebounding tech is because those FED members pushed back quite significantly on the expectation of a not point five hiking

rates in March. And I also think market expectations around the number of rate rises this year have become much more realistic. You know what, I've heard an awful lot of chatter about five, six or seven rate rises this year, and I think a large part of the reason we saw the sell off at the back end of Chaney was because of concern about that. Now that we're out of the quiet period and FED policy makers are an awful lot more vocal, there's been pushed back on that now.

Of course, that could all change next week with the US CPI number, But for the time being, I think if ten y yields remain below one and two yields remain below one point two, then I certainly think this rally has got legs now. So the CPI number is probably, from what I hear from you, the bigger focus as opposed to the jobs report coming out on Friday. Yeah,

I mean Patrick Harker pushed back on that yesterday. We're expecting a pretty poor report, and ultimately I think January, I think a couple of years ago there's also a disappointing number as well. Um in the in the when we had similar problems with respect to a previous variant. So we're coming out of the pandemic. Ultimately, I think the FED thinks that we are at maximum employment. I think a poor jobs report is priced in. It's much more about inflation, and certainly I think that is the

clear and present concern for investors at the moment. I mean, around about ten minutes ago we saw a you CPI come out a new record hire five. Yeah. I was going to ask you about that. Whether the ECB can maintain it's a slower rate hike path with that kind of record heart inflation coming in in the Eurozone, I think what gives them a little bit of a get out of jail free card on that. On that score, Nathan, is the fact that core prices fell back from two

point six to two points three in January. But it is a worry. I mean, you can't credibly argue that the FED is behind the curve on inflation, while at the same time I argue that the CBS and I mean, yes, there are differences between the economies, but ultimately, I think if the ECB is lagging behind the FED, which most people acknowledge that it is, then we're likely to see

much more persistent inflation going forward. So I think Madame Lagarde is going to find it very, very difficult to hold the line on the transitory narrative when you've got inflation in the Baltic states of around about ten or twelve cp I offsetting against the weakend numbers that you're seeing in Italy and Spain, which still is well above the headline two target. So in a last minute here, Michael, which sectors are you looking at to perform well in

this kind of elevated inflationary environment. Well, at the moment, we've got a rising tide and appears to be lifting all boats would have seen so far, as obviously the energy sector. I mean, that's a no brainer. X on mobiles numbers yesterday, we're I think a real standout, and I think I'll be paying particular attention over the course of the next couple of weeks to BP and shells numbers over here, because they have been very disappointing and

those shares have lagged. Obviously telecoms as well. There's an awful lot of M and A there to phone this morning was slightly better than expected, so certainly be looking for M and A activity in that particular sector as well here in Europe. All right, interesting as always to get your insights. Thanks for this, Michael. Michael Houston is

Chief market Analyst at CMC Markets. As tech really is the focus this morning after the earnings we saw last night from a Google parent Alphabet NASDAC futures are surging this morning, up one and a half percent or two D twenty seven points, leading the gains. Solid gains for the SMP futures as well. They're up thirty six points or eight tenths of one percent. DAL futures also in the green, up fifty one points. That's a gain of

about one to two tenths of one percent. The tenure treasury is up one thirty second yield one point seven eight percent on the tenure note and the yield on the two year right now one point one six percent. The docks in Germany CAC in Paris both up a half percent after that record five point one percent inflation print out of the euro zones day with us for more. You're listening to Bloomberg Daybreak. Bloomberg day Break is brought to you by the Breakers. This winter, a warm welcome

awaits you. The Breakers is committed to making your stay even better with exceptional experiences, gracious service, and unparalleled sea side glamer. To learn more, visit the Breakers dot com. Today broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg E Living free to Washington, d C, Bloomberg N one to Boston, Bloomberg one O six one to San Francisco, Bloomberg nine six to the country, Sirius XM chto one nineteen and around the globe, the Bloomberg

Business APT and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's fine thirty on Wall Street. Good morning. I'm Nathan Hager and I'm kerin Moscow. We are just about four hours away from the open of US trading. Let's get you up to date on the news you need to know this hour and now. As the future is higher

this morning, building on three straight days of gains. The catalyst this morning strong earnings from alphabet Angelo Zeno is an analyst at cf A, you know, kind of going into the quarter, I think there might have been some concerns about some of the supply constraints going on the market and potentially hindering some of the ad spend out there. But kind of look at the search business and I think that's really kind of the big winner here of

percent and really kind of blew our numbers away. C f r A analyst Angelo Zeno says a stock split is also lifting Alphabet shares. The company will increase its outstanding shares by a twenty to one ratio. Another high tech companies rollying this morning, Karen Shares of a M d Or up eleven and a half percent. The ship maker gave us surprisingly strong sales forecast, suggesting it's making further gains on rival Intel. Facebook reports this afternoon General

motors of nearly one percent in the pre market. Nathan the company's earnings BEATA estimates, while its forecast was in line with predictions. GMC's a semi conductor shortage easing this year, but says lower volume ven higher costs will restrain profit. Obside of corporate earnings, a measured ton from the FED is also boosting stocks we get that story live from Bloomberg.

Rinia Young, Good morning, Granita, Good morning Nathan. Central Bank officials are laying out a gradual approach to the path for rate hikes this year. That differs from some Wall Street forecasts, which include as many as seven rate hikes this year and even a fifty basis point height next month. So far, none of the Fed officials speaking this week have backed the idea of such an increase in March.

The most hawkish of them all St. Louis Fed President James Buller's says five hikes is quote not too bad a bet. Kansas City Fed Chief Esther George is another hawk and she says ideally the Fed prefers to go gradually. Live in New York. I'm Rania Young, Bloomberg daybreak. I mean to thank you. Oil trading near a seven year high ahead of an OUTPAG plus meeting. Oh Pack and its allies are expected to approve another modest oil output increase today. At the same time, they'll have to struggle

to deliver and checking oil right now. And I'm ex screwed. Oils have a quarter per center to need two cents and eighty eight dollars forty two cents of Darrel. Brent is up a tenth of a percent at eighty nine dollars twenty seven cents, and again, futures are on the rise. S and P Future is up thirty seven points down Future is up fifty four nasdack Futures jumping up two hundred thirty seven points. That's up one point six percent.

Tenure Treasury little change, he'd one point seven eight percent, and they yield on the two year one point one seven percent and the euro one point one three oh five against the dollar. Straight ahead, your latest local headlines plus the check of sports, and this is Bloomberg. He's caring on Wall Street thirty five degrees in Central Park. They've cleared the crash on westbound l I E and Maurice Avenue. Details coming up in traffic. First Michael Arr with what else is going on in New York and

around the world. Michael, thank you very much. Nathan. Funeral services will take place today for n y p D officer Wilbert Mora. The twenty seven year old was killed in the line of duty last month, along with his partner Jason Rivera. More will be buried in Queens after services in St. Patrick's Cathedral in Manhattan. This as an off duty NYPD officer was shot in Queen's last night. He's expected to survive. Tomorrow, Mayor Eric Adams will host

President Biden for a discussion about gun violence. We're going to lay out clear items we need on the federal level, just as we did with state lawmakers. Everyone must be on the same team. Adams will also be joined by New York Governor Kathy Hocole and other elected officials. Russian President Vladimir Putin is breaking his silence on the u S military support for Ukraine. Putin accused the US and

the West of ignoring Moscow's security concerns. Why now, spokesperson Jan Saki, We don't know what President Putin is going to do uh and it is our responsibility to UM and it's an imperative to keep the door to diplomacy open right now. Spokesperson Jen sak Fiser is asking US regulators to authorize extra low doses of its COVID nineteen vaccine for children under five. The move could open the way for the very youngest Americans to start receiving shots

by early March. The FBI is warning of cyber attacks aimed at disrupting the Beijing Olympics, Bloomberg's head Baxter reports. The FBI warning says the targets will be entities associated with the Olympics and that they could have activities disrupted by a broad range of cyber movements. It warns of ransomware, malware,

social engineering, data theft, phishing campaigns, and disinformation campaigns. The FBI is also sending a follow up reminder to those traveling that they could be the targets of mobile phone attacks as well. In San Francisco, I'm at Baxter, Bloomberg Gay Break Global News twenty four hours a day on airand on Bloomberg Quick Take, powered by more than twenty seven journalists and analysts more than a hundred twenty countries

on Michael Barr, This is Bloomberg, Nathan. Thanks Michael wall Street. John Stas got the Bloomberg Sports update all right, Nathan. It was in two thousand fourteen that the Patriots, sensing that Tom Brady, then thirty seven, was nearing the end of his brilliant career, drafted a quarterback to replace him, Jimmy Garoppolo. Brady said back then when he stinks till retire. He's now forty four, he is retiring, but he never

did stunt. In fact, Brady's final season with Tampa Bay with one of his best over fifty three hundred passing yards forty three touchdown It's gonna be very hard for anyone to break Brady's records. He's got a hundred seventy four more touchdown passes than any active QB. Garoppolo never did replace Brady in New England. Maybe he'll do it

now with Tampa Bay. At the forty, Niners expected to trade Garoppolo stunning allegations made by Brian Flores in the lawsuit he filed in Manhattan Federal Court at US in the NFL and three teams of racism in their hiring practices.

Not only that the Broncos in two thousand nineteen and the Giants recently interviewed him for a head coaching job they knew they were not going to offer to in but that in Florida's first season as head coach in Miami, owner Stephen Ross offered him a hundred thousand dollars for each loss. He says Ross wanted to lose so they'd get a better draft pick Nets lost in Phoenix one eleven. Devin Booker scored thirty five. The Sons are an NBA best forty one and nine Rangers at the card and

be Florida five to two. More power play goals for Chris Pryter or Tammy Panarina goal to assist Islanders beat Ottawa four to one. Devil's lost at Toronto seven one St. John's near they pulled off an upset, fell short to bigg East leading Providence eight eighty two. Seaton all being Georgetown Rutgers lost in overtime at Northwestern. John Stash Award Bloomberg Sports Nathan thanks John thirty seven on Wall Street Time for the Tri State Business Report. Here's Bloomberg's head Cory.

New York City is home to the most well funded crypto startups in the US. Last year, the city attracted six and a half billion dollars forty six percent of funding to blockchain or crypto centric companies, according to CB Insights. New York Digital Investment Group and Celsius Network led the pack of New York firms. New York City's property tax system was built a favorite single family homeowners over renters

or commercial buildings. Hundreds of residents last year asked the city to change the law, as spiraling prices force some longtime city dwellers into debt and others to consider leaving. Mayor Eric Adams has a bound to prioritize the issue. More than three hundred thousand New Jersey residents have signed up for health insurance online at get Covered in j dot gov. More consumers signed up for marketplace coverage than during any prior open enrollment period since passage of the

Affordable Care Act. That your Bloomberg Tries State Business Report. I'm in Corey on Wall Street time out to check in with our global news team on some of the top stories heard on our three hundred affiliate radio stations around the world. I'm Steve Potas and on Chence head Wins in New York. We're talking about big bonuses bringing back the good old as on Wall Street. UM corney Danaho on who Who in Fort Wayne General Motors says the chip shortage will start to diminish in the second

half of the year. I'm Caroline hit called Bob Dave Dishomadium in London. Women boarding on a two million pound award for eight female BMP PIVA employee and a London Employment tribunal as an unprecedented order having the bank to conduct agenda payodit I mid Cory on w w J in Detroit, Diimer boarding general motors he signed of been easing in the computer chip shortage. Those are some of the stories our Bloomberg journalist and analyst working on this

morning around the world. It's thirty nine on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. Since the early days of the pandemic, the U. S. Government has suspended payment requirements for federal student loans. During the omicron wave, President Joe Biden once again extended the pause, the fifth such delay in less than two years. He should make

it the last. Pausing student loan payments made sense at the height of the pandemic, when much of the U. S. Economy had shut down. There's less justification now. Some Biden allies are pushing the White House to extend the pause again or to cancel student loan debt altogether before payments are set to resume in May. Biden should refuse. Doing so made disappoint progressives, but it would promote fairness, cut the government's losses, and reduce uncertainty for borrowers themselves. This

editorial was written by the Bloomberg Editorial Board. For more Bloomberg opinion, please go to Bloomberg dot com, slash opinion or ope i n go on the Bloomberg terminal. This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials every week at this time. Terminal customers can read more at opi n go. SMP futures right now thirty seven point style features up sixty nine, Nasdaq futures higher by two hundred twenty eight points, a gain of one and a

half percent on the heels of Google earnings. Shares of Alphabet up almost eleven percent. We'll talk tech next with Angelo Zeno of cf r A. This is Bloomberg, Bloomberg eleven three oh Weather cloud some sun at times at mid forties for an afternoon high, afternoon rain tomorrow high your forty five degrees. That rain condend is wet, snow or sleet on Friday with a high in your thirty

five degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, for Bloomberg Business at and at Bloomberg QUICKTAKEE. He's a Bloomberg Business Flash and I'm Karen Moscow. Global stocks heading for the biggest four day rally since November. US stock index futures are jumping as companies from the US to Europe report better than

forecast earnings, and dip bine continues in technology shares. We check the markets every fifteen minutes throughout the trading day on Bloomberg Right now, S and P futures are up thirty three points now futures of fifty two Nasdaq futures are up two hundred eleven or one point four percent.

The decks in Germany's up half percent. The ten year treasury down to thirty seconds yield one point seven nine percent, yield on the two year one point one seven percent nine x screwed oil of four ten percent or thirty four cents at eighty eight dollars fifty four cents of barrel. Comics called up tenth of a percent of a dollar seventy at eighteen o three twenty announced the euro one

point one three one zero against the dollar. British found one point three five eight a en is at one fourteen point four one, and Bitcoin this morning moving lower at thirty eight thousand, five hundred fifty dollars. That's a Bloomberg business flash. Now here's Michael lar with more unless going on around the world. Michael here in in Virginia's students and staff at Bridgewater College ark in morning after two security officers were shot to death. The suspects and

custody fired. Miami Dolphins coach Brian Flores has sued the NFL and three teams, including the Giants, alleging races hiring practices by the league. The Washington Football team will announce its new name and logo today. NBA the Nets and Wizards lost, the Warriors one, NHL, the Rangers, Islanders and Bruins one, the Capitol's one, and OT the Devil's Lost. Global News twenty four hours a day on air and on Bloomberg Quickdake, powered by more than twenty seven hundre

journalists and analysts more than a d twenty countries. I'm Michael bar This is Bloomberg Naked. Thanks Michael. It's five forty eight on Wall Street Life from the Bloomberg Interactive Broker Studios This is Bloomberg Daybreak with tech earnings in focus this morning. As we see the surgeon nastac futures, we are continuing to keep our eyes on alphabet shares. The parent Google of the parent company of Google is up more than ten percent on sales and profits the

top estimates, even in the face of a Macron. Let's get more on the tech story. Angelo Zeno with a senior industry analyst at c f R A Angelo, A thirty three percent jump and AD sales is nothing to shake a stick at. Yeah, I know absolutely. I mean, listen, the search business growing up, I think about thirty six percent here, um, as well as you know, great results across other segments as well. You've got to kind of be be pretty happy with where um. You know, the

digital add growth is coming from here. I think you know, the company likely somewhat of a beneficiary from Apple's recent privacy changes here. But you know all said, um, you know, increased budgets here from within the enterprise space as kind of the economy reopens. Um, this company is just kind of um firing on all cylinders. To to be honest with you, you can't continue to fire on all cylinders.

Is it being a beneficiary as well of the continued COVID pandemic and a lot of Internet users still spending more time online simply because they have more of that time. Well, you know, I think it's interesting in the sense that you know, this is a company that's going to benefit from, you know, whether we're seeing a prolonged pandemic or if this economy reopens. And again, you know, we kind of

see increased travel spend and what have you. And at the end of the day, what happens is um, you know, we're just seeing more and more advertisers just continue to shift their spend online. And that's not a trend that's going to stop. If anything, it's accelerated here during the pandemic. And while we expect some deceleration of growth here in

three let's call it mid teams growth. Um. You know, the the the secular drivers remain intact um and again, the digital ad spend will increasingly come towards growth towards Alphabet. Obviously a lot of attention as well on the announcement of a one stock split. What's Alphab doing with that? Yeah, I mean, listen, I think there are a lot of investors that kind of get hyped up when you kind of see an announcement like that. I mean us being

a fundamental a house. Um, Listen, it doesn't really have an impact on kind of how we look at the stock or our recommendation on the name. But that being said, listen with when we kind of look at some of the moves in the past from some of these big tech names, whether it be an Apple or a Tesla,

even in video last year. Um, there's clearly some um it drives increasing interest, let's call it, from a lot of retail investors out there, and could help you drive further momentum here in the shares over the next couple

of months. And thinking about the momentum for ad sales online that brings us to Facebook earnings, Meta platforms reporting after the bell this afternoon, does that bode well for Mark Zuckerberg's company well in the sense that, um, you know, it appears as if kind of more advertisers are opening up their wallets. I think that clearly does bode well for a Meta as well as some of the other social media names that have been hit hard here over

the last couple of months. However, what we didn't find out from um Apple's results that could have more of an impact on on Meta is the fact that hey, some of these UM or you know, the the Apple um privacy changes could have more of an impact or like and definitely will have more of an impact on a name like Meta as well as Snap. So I think that's something that investors are clearly going to keep their eyes on and why we haven't seen as much of a move on Meta here in terms of the

stock price ahead of their results. Just thirty seconds left here Angel, Well, but what are you expecting to hear about the metaverse? Yeah, I mean, listen, this is gonna be the first quarter where they kind of provide more details across both their business lines in terms of separating the the ad with their Facebook Reality Lab segment. At the end of the day, I don't expect you'll see much.

It's still a small part of the business, but I think they'll they'll definitely kind of hype it up significantly and kind of talked about kind of the hardware opportunities at least over the next twelve to eighteen months. And we do think the holiday sellers in season was extremely good for occultists, probably better than what most industry. They're

looking at the tech focus continues. Thanks for this, Angelo Angelo Zeno, senior equity industry analyst at cf R A. And Google shares again, Karen the alphabet the parent company. They're up ten percent and Facebook up more than three percent ahead of earnings. All right, Nathan, thank you. It is five or fifty three on Wall Street. It is time for the Bloomberg Law Report, brought to you by

American Arbitration Association. Business disputes are inevitable, resolve faster with the American Arbitration Association, the global leader in alternative dispute resolution for over ninety years. More at a d R dot org. Let's get to the legal stories we're watching this morning. From Bloomberg's Jeff Bellinger, the I R S is reminding taxpayers to be sure they have all necessary

documents before filing their returns. Filing too soon could lead to processing to the Tyson Foods wants a federal appeals court to reconsider its ruling against the company, which is accused of not adequately protecting workers from COVID nineteen. The Equal Employment Opportunity Commission has been without a Senate confirmed top lawyer since March of last year. The agency says the vacancy hinders its ability to pursue certain legal strategies.

Bloomberg Law everything you need, all on one legal research platform, including guidance analysis and Bloomberg market Intelligence. Find out more at Bloomberg Law dot com. Thanks Jeff. Now, another legal story we're watching brings us to patent law. Today, the

Washington football team will officially announce its new name. The renaming process has taken nearly two years and has been shrouded in secrecy for more In the Implications, John Grosso speaks to Bloomberg Pattents reporter Susan Decker, So, what are some of the extreme measures that sports franchises resort to in order to keep a name secret before an announcement like this? Ar going to file their trademark application in

another country. They're going to file in Trinidad and Tobago and Mauritius, like these island nations that don't have a whole lot of internet access and and don't have a lot of public access and have policies that don't allow them to be public. This way you get the protection because the trademark application is good from the date of the first application, but you don't actually file the application in a country that has public access like the US

for six months. You have that six months lead time so that you can get everything together. You have the protection, but you can get all of your splashy marketing stuff all together and then announce it. And when you announce it, you're still protected and that you're not going to have to worry about someone running to the trademark office to file an application on the name that you've chosen. And the Cleveland Major League Baseball club filed in Mauritius. They

filed in Mauritius. Yes, and they filed into their own name under the Cleveland Indians name, which was their former team.

And some companies like Apple, what they do is they'll set up a shell company and they'll set up a company that has some innocuous name like I P Management, and Apple's case for the iPad, they filed it under this innocuous sounding name in this remote trademark office and turn that tobacco and then when they were ready to announce the product, they filed their application in the US and then they quickly had that company subsumed into the Apple brand and the Apples company. So that there was

no concern about ownership rights. So it's been almost two years since the Washington football team announced that they decided to change their name. Why is it taking so long to come up with a new name? And there aren't that many instances where you have a large, nationally known sports franchise switching their names. And it's not just the

name of the team. You need to get the trademark on all the merchandise, on the video rights, on the TV rights, you need to get the websites, you need to get the social media counts, and you need to make sure that you can get the same name for all of these things. And in trademarks in particular, the trademark is only for a specific type of good. So when you have the Washington football team or any football team, you have to have that name that can be used

for cups and hats and clothing and software. And you see that they just had a minefield that they had to go through. And as Bloomberg Patent's reporter Susan Decker speaking with the Juan Grasso. Catch more of that interview plus analysis of the latest legal news, by listening to The Bloomberg Law Show at ten pm Eastern time or subscribing to the Bloomberg Law podcast, and attorneys can find exceptional legal research and business development tools at Bloomberg law dot com and This is Bloomberg