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

D officer killed in an ambush in Harlem. Plus Russian President Putin speaks out about Ukraine. I'm Michael barn Or Ahead. I'm John Stans shown sports Tom Brady officially retired a blockbuster NFL lawsuit, The Nets lost the Rangers one. That's All straight Ahead on Bloomberg Daybreak on Bloomberg Elementary on New York, Bloomberg one, Washington, d C, Bloomberg one of six one, Boston, Bloomberg nine sixties, San Francisco, Syrius x M one nineteen and around the world Long Bloomberg Radio

dot Com and via The Bloomberg Business. Good Morning, I'm Nathan Hagar. And I'm Karen Moscow. US dot index Future is gaining this morning. We're coming up to six o one on Wall Street, and we checked the markets every fifteen minutes throughout the trading day. On Bloomberg SMP future is up thirty four points now futures have forty seven and NASDAC futures have two hundred nineteen or one and a half percent. Ten year Treasury down two thirties seconds.

The yield one point seven nine percent, and they yield on the two year one point one seven percent. Comacs Gold is up a tenth of a percent, or two dollars ten cents at eighteen oh three sixty announced the euro one point one three one three against the dollar and bitcoin at thirty eight thousand, five d eighty five dollars. Nathan Well, Karen. The boost and NASTAC futures comes in

part thanks to corporate earnings. Let's begin with Alphabet. Those shares up more than ten percent after the Google parent beat profitent sales estimates and announced the stock split at Ludload joins us with the details from our Bloomberg nine sixty news room 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 to a

resilient advertising business. But really it was news of a 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 dividend, 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 Blow, Bloomberg News, San Francisco, all right, and thank you. Adding to the bullish sentiment this morning is a MD shares the chip maker up more than eleven percent. The company had a surprisingly strong sales for Chaos, suggesting it's making further gains un rival Intel and Shoes. Our General Motors are up less than one percent here and GM earning stuff estimates while its outlook for twenty two remained unchanged. We get

more from Bloomberg's Charlie Pallace. GM is seeing signs of an easing in the semiconductor shortage that curbed 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 as top us automaker for the first time since one in New York. Charlie

Pellets Bloomberg debrit All right, Charlie, thank you. We'll have more on GM later this morning on Bloomberg Surveillance. Will speak live with CEO Mary Barra. That's coming up at nine am Wall Street time on both Bloomberg Radio and television and Nathan. Earnings continue to roll in today, with nearly three dozen companies reporting. Heading the list, Facebook owner Meta Platforms. We get a preview from Bloomberg's Town Busby and its first earnings report under its new corporate name,

Facebook's owner Metal Platforms. It's 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 nine 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, thank you. 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, and we get that storyline from Bloomberg's Need a Young Good Morning Grenita, 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 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 Bullard says five hikes quote not too bad a bit. 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 goned a

young Bloomberg Daybreak. We need to thank you. Fed officials will be paying close attention to this week's economic data. On this morning, we get the first of three reports on the labor market because he had dramatic slowdown in business hiring. When a DP issues January payroll data, econom is surveyed by Bloomberg anticipate a gain of less than

two hundred thousand, and Bloomberg's viney Deal Judais reports. Bloomberg Economics says January's ADP data will point to a slowdown and hiring, reflecting the impact of COVID nineteen omicron infections on businesses. February could usher in a recovery. In December, a d P reported businesses added more than eight hundred thousand workers, the most sins May. The official government figures

were less robust. S Bloomberg day Break Finny Thanks. The big Labor report comes Friday with government payrolls data for January and the Biden administer Asians, lowering expectations on those. 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 Catch the program weekdays at five pm Eastern on Bloomberg Radio. Oil also in focus this morning, is trading near a seven year high ahead of an OPEC plus meeting. Oh Peck and his allies are expecting to approve another modest oil output in Greece today, at the same time, they could struggle to

actually deliver that cut. And checking prices now, NIMEX scrude oil is up a quarter percent, or twenty four cents at eighty eight dollars forty four cents. Of barrel Brent is up about two ten percent to eighty nine dollars twenty nine sense and checking futures right now, SMP futures are up thirty one point, staff futures up thirty six. Nastack futures are higher by two or three points. That's

a gain of one point four per cent. The tenure treasure yield one point seven nine local headlines in the check of Sports. Next to this is Bloomberg. It sounds six though seven on Wall Street where thirty five degrees in Central Park got an accent on the inbound George Washington Bridge on the upper level. The tails coming up in traffic. First Michael Barr with more on what's going on in New York end around the world. Michael, thank

you very much, Nathan. A sea of blue expected again in New York City today at the funeral for Officer Wilbert Mora, the second of two NYPD officers killed in the line of duty last month. Awake for Morea, who was seven, was held yesterday. He was killed during a domestic disturbance call in Harlem, along with his partner, Jason Rivera. Moreas funeral will be held at St. Patrick's Cathedral this morning in midtown Manhattan, followed by a very old Woodside Queens This as an off duty m p D officer

was shot in Queen's last night. He is expected to survive. Mp D Commissioner Keachin Sewell 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 Adam speaking to reporters. These offices every day put on their uniform, Pinachiel on their chests, put the bulaproof fest on and go back in the streets. With all of that frustration, they still go back and

do their job. Now is 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 b Lincoln, speaking with Russian Foreign Minister Lave Roth, says it was time for Russia to start withdrawing its troops from the border. White out spokesperson Jen Saki, the door to the plumacy

remains open. We don't know what decision President Putin will make. Spokesperson Jen Saki a Democratic senator has suffered a stroke because doctors say U S. Senator Ben Luhan, who is forty nine, is expected to fully recover from a stroke and surgery to reduce swelling. However, with a fifty fifty Senate, it has put a number of Democratic lead votes on

hold for now. A major winter 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. It's Texas before it drops snow and ice on the Midwest, and it's Groundhog Day. People in Pennsylvania are waiting to learn whether Ponsitani fil predicts an early spring or six more weeks of winter. Staten Island. Chuck will be live

stream today Global twenty four hours to day two. Buck Chuck on here and on Bloomberg Quick Takes Mony seven that maybe journalist and analyism more than under twenty gun threes. I'm Michael bar this is bloom happy. Six more weeks of winter. I'm calling it, Michael almost six ten on Wall Street. Time for the Bloomberg Sports Update with John Stashun all Right, Nathan the greatest player ever retires and may not have been the biggest NFL story of the day.

Tom Brady made his retirement official a length they post on social media that curiously never mentioned the Patriots, but you can 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 accord by Brian Flora, as recently fired as the head coach of the Dolphins. It accuses the NFL and three teams Miami, Denver, and

the Giants of racism in their hiring practices. Flora said that in two thousand of nineteen in Denver and 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 meant it to go to Brian day Ball. He congratulated him on getting the Giants job.

It was before Flora's even had his review. Perhaps most shocking leave, Flora said Dolphins owner Stephen Ross offered to pay him more money if his team lost so they could get a better draft pick. NAT's in Phoenix Sons have won forty of their last forty six. They beat Brookely to one eleven. Devon Booker scored thirty five Rangers at the Guard to beat Florida five to two. Two more goals, both on the power player for Chris Crider, now thirty three goals on the season, more than half

of those with the man advantage. Islanders back to five hundred four one over Ottawa, The Devils six trade Laws beaten by Toronto seven to one. St. John's lost the Big East, leading Providence eight six eighty two. Pasha Alexander scored twenty nine for the Red Storm. Seaton Hall one at Georgetown Ruttors came from twenty four down to force overtime but lost by one at Northwestern. John Stash Atward

Bloomberg Sports, Nathan all right, John, thanks right now. Some futures are up thirty point Stuff futures up thirty four nansect futures still leading the gains up one hundred ninety three points, a gain of one point three percent to ten. Your treasury now down one thirty second to yield one point seven nine percent. More are on the markets. Next

with Brian Levitt of Investco. This is Bloomberg Bloomberg eleven three or weather cloud some Sunday times today with a higher forty five degrees will be in the mid forties tomorrow with rain arriving the afternoon. Rain ending is wet, snow or sleet Friday with a hindar thirty five. That's the current temperature. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com. The Bloomberg Business Outland at Bloomberg Quick Tape is a Bloomberg Business Flash

and I'm Cameron Moscow. Global stocks heading for the biggest four day rally since November. US Dot index futures are jumping as companies from the US to Europe report better than forecast earnings, and dip bine continues in technology shares. To check the markets every fifteen minutes throughout the trading day on Bloomberg Right now, S and P futures are up thirty points now futures up thirty three, and NASDAG few Jersey are up one ninety three. That's up one

point three percent. The decks in Germany's up two tenths of upper cent. The ten year treasury down one thirty second held one point seven nine percent. They yield on the two year one point one seven percent. Nine night screwed oil is up two tenths per cent or thirteen

cents at eighty eight dollars. Thirty three cents of barrel comex schooled up less than a tenth of upper cent of a dollar twenty At eighteen o two seventy announced the euro one point one three oh nine against the dollar, British found one point three five five six and the ends at one fourteen point three nine bitcoin. This morning it's moving lower at thirty eight thousand, five hundred twenty dollars.

And today we get a report on private pay rolls from the ADP Research Institute at an eight fifteen Wall Street time, and it's another big day for earnings. We hear from companies including Facebook parent Meta platforms. That's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Uncle, good morning, Good morning.

Here in US, hospital admissions for COVID nineteen are receiving in thirty four states and the nation's capital, easing the healthcare staffing crisis that we're widespread at the start of the year. The World Health Organization, though warned countries not to ease restrictions prematurely. Former 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 one 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 won. In the NHL, the Rangers, Islanders, and Bruins one. The Capital's won 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. I'm Michael bar This is Bloomberg. Nathan all right, Michael, thanks for coming up to six twenty on Wall Street Life from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak.

Brian Levitt joins us now Global market strategist at invest Go certainly seeing a lift to tech futures for sure, Brian, with Google earnings coming in as well as they did, is the growth trade back, Yeah. I think investors have gotten too pessimistic on the growth trade. And part of the reality of the pessimism that growth trade with the expectation that long rates we're going to go up substantially.

I think what investors have to realize is that we are in a tightening cycle, and in a tightening cycle, you'd expect the yield curve to flatten and for growth prospects to slow. And in a slower growth environment, companies that can generate true earnings growth tend to be rewarded. So it's not to say that the year isn't going to continue to be volatile, but I think investors jumped the gun to think that, you know, this was going to be a wholesale shift away from growth to value.

I would focus on quality, and a lot of those growth companies are high quality businesses that that generate very strong earnings growth and what's gonna be a slowing economic environment. In a slowing economic environment, then you can tech companies like Alphabet, like Apple continue on the trajectory that they've

shown through the pandemic. I believe they can um and what your start what you started to get to when when we saw the big sell off that we had a handful of days ago, was that some of these really good quality tech businesses were moving towards valuations in some instances like a Facebook that wasn't all that different than the valuations of the market. So we had gotten to, you know, extreme pessimism across the market. We're getting a bounce here. It's not a surprise to see it led

by by tech businesses, by the higher quality companies. Now these markets, um, you know, a rally was in store. These markets were bound to find some footing. It doesn't mean our challenges haven't gone away. We all have elevated

inflation and multiple interest rate hikes ahead. But my view is that you want to hide out in quality during that environment, and the companies that you mentioned could certainly be viewed as as good quality business has given the state of their balance sheets and given their abilities to grow in most economic backdrops. You mentioned the uncertainty around FED policy. Are you starting to re rate what you think the FED is going to do in terms of the speed of rate hikes and how many rate hikes

we get this year. Yeah, but the market has done a good job of of pricing it in. I mean, even if you think about what had what's happened to the two year treasury, the to your treasury was below twenty basis points not that long ago and and has moved closer to a hundred and twenty basis points. So I would categorize that as a bond market that has

already started to price in a lot of tightening. Financial conditions have tightened a bit, high yield spreads have moved up a bit in the yield curve, The US treasure eel curve has flattened meaningfully. So the I guess we could take it as some good news that the market has already priced in a lot of it. What we need to see now is do inflation expectations start to come down and is it possible that the Federal Reserve does not have to raise interest rates as significantly and

as quickly as people think, Look it's coming. We know the tightening is coming again. The markets priced in a lot of it. What I'm starting to see a survey data from the American consumers saying they're not willing to pay these prices anymore. It's not a good time to buy durable goods. They're saying it's not a good time to buy vehicles. To me, that means demand slows. As demands slows, some of the supply chain challenges hopefully start to ease. Maybe that allows the FED to back off

the tightening stance at some point. That's the hope that would put the economy back into a more expansionary tilt. But we'll have to see how this plays out. All right, Thanks for this, Brian, good having you on with us this morning. Brian Levitt is a global market strategist at Investco. It is on Wall Street. This is the Big Take, the best of boom Berg's in depth original reporting from around the globe. We're running on a financial system that's

running on old technology. We're seeing prices reach fresh recordized. What unfolds in mid terms, we will no doubt see again in the next presidential election. The boom Take on boom Bird Radio. The Big Take this morning is about big bonuses, the likes of which Wall Street hasn't seen since really after the global financial crisis and the bailout from the federal government. Bloomberg Wall Street reporters Street not Rogen is with us this morning, one of the authors

of this morning's Big Take story Street. Good to have you with us this morning. We have certainly seen how big these bonuses have been and the overall compensation packages for Wall Street bankers. You look at the CEOs of the big six Wall Street banks and it's almost like an arms race in terms of trying to retain and hold on to talent at the trading desks. Absolutely, we haven't seen this level of be out for the top rainmakers at the biggest banks in the United States in

over ten years. The last time that happened was one year after the Great Financial Crisis, and that invited the get Bigger on Wall Street. Bloomberg Wall Street reporter Shre not a Rogen with us this morning with the Bloomberg Big Take. You can read all about it at Bloomberg dot com, Slash Big Take and I Big Take go on the Bloomberg terminal. Karen Nathan at is six thirty

on Wall Street. This is Bloomberg Daybreak. I'm Karen Moscow along with Nathan Hagar, and we're 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 Interactive Brokers. Trade crypto for less coin with commissions just twelve to eighteen basis points and no hidden spreads or markups. Learn more at ibkr dot com slash crypto at First Nowsday, futures are hire, building

on three straight days of gains. That catalyst this morning strong earnings from Alphabet Angelo Zo, as an analyst at CFRE 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 a big winner here of thirty percent

and really kind of blew our numbers away. C f r A analyst Angelo Zo says a stock split is also lifting Alphabet shares. The company will increase its outstanding shares by a twenty to one ratio. And we're also watching another high tech company rally this morning. Karen Shares of a m D are up eleven percent. The chip maker gave a surprisingly strong sales forecast, suggesting it's making

further gains on rival Intel. This afternoon, we hear from Facebook parent Meta Platforms General Motors is of nearly one percent in the pre market. The company's earnings beat estimates, while it's forecast was in line with predictions. GMCs that semiconductor shortage easing this year, but says lower volume and higher costs overstrained profits outside corporate earning scaring A measured tone from the Fed is also boosting stocks. We get

that story livee from Bloomberg's Ranna Young Rinita 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 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 hawk ish of them all St. Louis President James Bullard says five hikes is quote not

too bad. A bed 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 Nita Young Bloomberg daybreak, all right, Rinita, thank you, And oil is trading near a seven year high a head of an

OPEC plus meeting. Oh packnast allies are expected to approve another modished oil output in Greece today, at the same time they'll have to struggle to deliver checking oil right now, and IMAX screwed oil is now lowered down about two tons of upper cent or seven cents at eighty eight dollars three cents of barrel, and brent is down about a third of a percent at eighty eight dollars eighty

five cents. And that s the five things you need to know to start your day, brought to you by Interactive Brokers and again SMP futures are higher up thirty two points down, futures up thirty five, NASDAG futures up two hundred sixteen that's up one and a half percent, and the ten year treasury little change, the yield one point seven eight per cent. Straight ahead, your latest local

headlines plus a check of sports. And this is Bloomberg, all right, Karen, Thanks, six thirty three on Wall Street were thirty four degrees in Central Park and save forty minute delays on the inbound upper level of the George Washington Bridge. Details coming up in Traffic First Michael Barr with more on what's 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, year old, was killed in the line of duty last month along with his partner, Jason Rivera. More as organs were donated to help save at least five other lives. More Up will be buried in Queens after services at St. Patrick's Cathedral in Manhattan. This as, an off duty NYPD officer was shout in Queen's last night.

He's expected to survive. Tomorrow. Mayor Eric Adams says he's getting ready to host President Biden for a discussion about gun violence. We want 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 Hokel 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. White Now spokesperson Jen Psaki, 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. White House spokesperson Jen Psaki. Faizer is asking US regulators to authorize extra low doses of its COVID nineteen vaccine for children five and under. 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 At 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 a Break. ABC is suspending Whoopee Goldberg for two weeks from the view after her response that the Holocaust was not related to race. ABC News president Kim Godwin says Bill Whoopee has apologized. I've asked her to take time to reflect and learned about the

impact of her comments. Global News twenty four hours a day on air, end on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael barn this is Bloomberg, Nathan, Thank you, Michael. Just about six thirty six on Wall Street, John Stashire

has the Bloomberg Sports Update all right. That it was in two thousand and four, team at the Patriots, sensing that Tom Brady, then thirty seven, was nearing the end of his brilliant career, drafted a quarterback to replace him, Jimmy Garoppolob Brady said back then, when he stinks, he'll retire. He's now forty four, he is retiring, But he never did stink. In fact, Brady's final season with Tampa Bay was one of his best, over fifty three hundred passing yards,

forty three touchdowns. It's gonna be very hard for anyone to break Brady's records. He's got a hundred and seven four more touchdown passes than any active qv. Garoppolo never did replace Brady in New England. Maybe he'll do it now with Tampa. Bay Forts are expected to treat Garoppolo stunning allegations made by Brian Flores in the lawsuit he filed in Manhattan Federal court accusing 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 them for a head coaching job they knew they were not going to offer to him, but that in flores first season as head coach in Miami, owner Stephen Ross offered 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 scores thirty five, the Sons are forty one and nine.

Rangers at the Garden beat Flour to five to two. Two more power play goals for Chris Cryder are semi Panarina goal to assist Islanders beat Ottawa for one. Devil's lost to Toronto seven oh one. St John's upset bid fell short lost to Providence eight eighty two. Seaton Hall beat George Town What is lost in overtime by one at Northwestern John stash award Bloomberg Sports Nathan thanks John.

Six seven on Wall Street, Time to take a look at stocks, some of the names moving in the pre market with Bloomberg Radio and TV Markets correspondent Creaty gufta, shall we talk about Alphabet? Creaty? I guess we have to, Nathan right, Well, Alphabet coming out reporting some pretty great sales and profit. You do have the analysts over BMO basically just summing it up by saying the search engine

is crushing it. Again, that is a direct quote. But I think the real highlight when it comes to Alphabet is the fact that they are bringing back big stock splits, a twenty for one stock split to be exact. And this is of course, so that prospective buyers won't need upwards of three thousand dollars to own a share. Uh. The CFO Ruth Poorat says it's to make shares more accessible, so once again trying to access the retail crowd. We

know the Apple has done this before. It's curious what the next big company, big tech company is gonna use this method. But for now it's actually gaining alphabet about four price upgrades or price target upgrades. I should say it's not the only one who had a pretty blowout fourth quarter though. A m D as well. Oh, I should mention he sees me aphabet up to over ten percent.

A m D also up over ten percent. This comes after the tripmaker reported fourth quarter results that beat expectations, gaining itself to analysts to raise their price targets on the stock as well. A m D is also the ticker and with it in sympathy it's latest acquisition x L and X which is up that of course the sylence. I don't think the acquisition is closed yet, but you can see the stocks are trading very closely together. Yeah,

obviously a lot of focus on tech this morning. What are you looking outside of tech though, Yeah, a ton of tech. I guess this counts as maybe fintech. Here paypals, what's got my i p y p L is your ticker down six team percent? It is the worst performer in the pre market right now of the S and

P five pounder. We still have three hours ago before the opening bells, but still PayPal kind of takes the cap plummeting after saying it's growth and spending on its platform continue to low during the fourth quarter as economies around the world reopened and consumers flocked to in store shopping. PayPal is not alone in seeing this dynamic. Other fintech companies have as well. After pay for example, has made

us some similar comments. I should also mention another big downside mover, and that of course is Starbucks s b u X. Is your ticker down just I have three percent in the pre market. This comes after the company did release an updated forecast that projects a slight impact on profits, but really they emphasize those surging costs relate

to labor and the ongoing pandemic. Nathan, I don't know when the last time you went to Starbucks was, but I was horrified when my coffee went from five dollars and seventy five cents to six dollars, five dollars above five dollars. My parents were like, I remember when coffee was two dollars and fifty cents. I was like, that's not in my life time. Starbucks, Radio and TV markets corresponded, Crety Gupta, head back to the pantry, Go get some

more coffee. We all know you'll need it this morning and through the rest of the day as we keep tech earnings in focus. Of course, we heard from Google's parent company, Alphabet. We're waiting for meta platforms to report after the closing bell. Taking a look at stocks as a whole ahead of the wolpen this morning. On this Wednesday, SMP futures are up thirty three points down, futures up thirty eight. Tech heavy Nasdaq futures leading the games this morning up two or nineteen points or one and a

half percent. This is Bloomberg Bloomberg eleven three oh weather mix of sun and clouds today with a high forty five degrees, afternoon rain tomorrow mid forties. That rain condend is wet, snow or sleet Friday with a higher thirty five currently thirty five degrees in Central Park Markets. Headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business apt and at Bloomberg Quick

Takes a Bloomberg business Flash and I'm Karen. Moscow and NAZDAC futures are jumping this morning, we get to the first word breaking news dance for today's morning call. Here's film the O A good morning, Bill, Hey, good morning Karen. That's right now is that futures are surging on the heels of the Google earnings doubt. Futures tourmally up fifty points, SUPs rise thirty four, while the NASDEK futures are up

two hundred and twenty. The US ten year old at one point seven nine percent, Golden oil are a little changed. Bitcoin is also trading little change, while your fe markets are in the green this morning. Back in the US, on the economic front, DP employment change, and after the bells night, PayPal reported a slower than expected finish to

the year, shares our plunging sixtent. In the pre market, we mentioned Google, that company announced one stock split, Starbucks warned on labor costs, and am D reported strong sales guidance regarding earnings. This morning, Boston Scientific beat estimates and

capre holdings raised fisk gear adjusted EPs outlook. Wrapping things up, Sinoco was cut to neutral at City Group under ARMO raised Overweight at Morgan Stanley and paypalas to market perform at Raymond James Live from the first breaking new sescon Bill Maloney care right, Bill, thank you to hear live breaking news of her Bloomberg t squawk on your terminal scue. You a w K and that's a Bloomberg business flash. Now here's Michael Barrow with Moore on what's going on

around the world. Michael Karen, thank you very much. In Virginia, students and staff at Bridgewater College are in mourning after two security officers were shot to death. The suspect is in custody. Fired Miami Dolphins coach Brian Flores has sued the NFL and three teams, including the Giants, a llegend

racist hiring practices by the league. The Washington Football team will announce its new name and logo today in the NBA, and the Nets and Wizards lost, the Warriors one in the NHL, the Rangers, Islanders and Bruins one, the Capitol's one in OT the Devil's Lost. Global News twenty four hours a day on airand on Bloomberg Quick Tank, powered by more than twenty seven hundred journalists and analysts, more than a hundred twenty countries. I'm Michael barn This is Bloomberg.

The following commentary is from Bloomberg Opinion. Big Ol locates to a different planet. I'm Liam Denning, a columnist for Bloomberg Opinion. Ex On Mobile is on the move, shifting its HQ from the Dallas suburbs to America's oil capital, Houston. The oil major announcer relocation a day before reporting its best annual results in more than a decade. The office moves looks like standard rationalization. Exon has a big campus already in Houston, and after recent layoffs, presumably has some

spare desks. Yet booming profits might suggest there was little need for belt tightening. The two are in fact inextricably linked. Unlike back in two thousand and eight, Excell's big free cash flow numbers reflect tight spending to recapture investor's confidence after several years of borrowing heavily to cover dividends. Being big oil these days means really sweating the small stuff.

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 these has been Bloomberg Opinion and Bloomberg Opinion commentary is gonna 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.

Return to news and science and technology now with a Bloomberg and j I T STEM report brought to you by New Jersey Institute of Technology, Transforming computing professionals and a data scientists to be demand in this fast growing field. Learn more at n j I T DOT E d U slash Data Science Now. Here's it's making news and science, technology, engineering and math. The World Health Organization warrants that now is not the time to be lifting public health measures.

The w h O said that COVID case reporting is an under estimate and not a great proxy for understanding virus circulation. That came on the same day that New York State reported at nine drop and infections from the peak a few weeks ago. New Orleans is requiring COVID vaccinations for all students ages five and up. That makes it one of the first major school districts to require such mandates. Families may still claim exemptions for philosophical, religious,

or medical needs. And Senators Ed Markey and Elizabeth Warren, both Democrats or Massachusetts, called on the Justice Department to crack down on retailers selling counterfeit masks. Reports of fraudulent or counterfeit mass of skyrocketed during the pandemic, as have prices.

The senator's letter comes as the Centers for Disease Control and Prevention updated its mask advice last month to reflect that respirator style face coverings K and nine fives or and nine fives are more effective at preventing COVID nineteen transmission than cloth or surgical masks. And that's the Bloomberg and J. I. T. Stem Report. Nathan, all right, Karen, thank you. We're live from the Bloomberg Interactive Brokers Studios

or at six fifty one on Wall Street. Time out to check what's going on in d C, where some of the top stories include Senate Democrats regrouping after defeat on voting rights, Republican opposition building to the U. S. China competition bill in the House, and Democratic Senator Ben Ray Luhan recovering from a stroke. Also making news, President Biden reviving the cancer moonshot with an ambitious plan to cut the rate in half. Let's bring in Bloomberg Government

reporter Emily Wilkins this morning. Emily, this was an issue that was near and dear to President Biden's heart when he was Vice President Biden, So what's the plan to bring it back now? The cancer moonshot? S Nathan. The idea for this is to really sort of re up the program, kind of get it a new life, really continued pushing with it. I mean remember initially the program got one point billion dollars in funding. Uh not all

of that I think has been spent. Um. There's also deserve a new desire for Biden administration to start talking about this issue again. Obviously, as you mentioned, it's very close to President Biden's heart, given at his son both

passed after a very aggressive brain cancer. UM. You know, one thing to note is that the way they're not really talking about caring cancer anymore, but they want to talk about the new progress on cancer um finding the new research allowing people to either live longer or be able to beat their cancer. And so these are all things I mean, I see, this is the issue once again close to Biden's hard something he really cares about.

As won't be allocating new funding for this, but they're going to be looking for other ways to really sort of invigorate the research around cancer. It is interesting to see this issue revived for President Biden after all the setbacks he's seen over the last few months, whether you're talking about the voting rights legislation or his overall economic agenda. Yeah, Biden has not been having a very good i say, less year a half year, and the polling numbers reflect that.

I mean, it's not just his legislation going down. Um, it is also things like Afghanistan, things like oh Macron, things like really high inflation, and now we're headed towards a potentially harmful jobs report come Friday. And so these are sort of a way to the way House to focus on something that they can do going forwards, or of a common issue. Um. In our very politicized Washington, at least one thing that that most people can agree

on how to move forward on it is cancer. And another issue that had seen some bipartisan support that I know you're keeping an eye on is this U. S. China Competition bill. But we are hearing and seeing a lot more Republican criticism coming up, particularly in the House and this version of the bill. Yes. So remember the House and the Senate, they're dealing with different versions of

the bill. Here. In the Senate version of the bill, it was bipartisan, it did get Republicans support, but the House has put out their own version and Republicans have been pretty uniformly opposed to it. Um. They say that this bill it's not tough enough on China, that it has a lot of provisions in there that they feel are sort of democratic wish list items like climate they don't necessarily have to do with the Chinese Communist Party and with research, and so that is what I Republicans

are really not expected to be voting for this legislation. Uh. It was debated and approved by a panel last night. It's been teed up for four actions this week, and at this point it works expecting it to just move with only Democratic votes. That said Nathan, then this bill does have to go because the House and Senate past different versions. They gotta get together. They gotta figure out what their final bill is going to look like. And

that's the one that really would need more Republican support. Technically, Republicans in the House aren't aren't needed to pass anything if Democrats can just all stick together, but in the Senate that's not the case. And Democrats certainly want the Republican colleagues in both cheamers to come along with them. You only have about thirty seconds left here, I believe, but we're getting another reminder just how fragile the Senate majority is for Democrats with one of their members suffering

a stroke. The good news is that Benrie Luhan is expected to make a full recovery. But yes, it's if you a huge reminder, Nathan that this fifty vote majority, it's it's pretty fragile. I mean, we have seen senators, um, you know, die in in the past, thank John McCain. Uh, we've it's a it's an older group, um, although I have to say Benrey Lujan is one of the other ones.

He is only forty nine years old. Uh. And so I think that's sort of a big reminder of the majorities that that President Biden is dealing with here, and a reminder as uh you were waiting for him to make his announcement on Supreme Court nominee. Certainly. Bloomberg Government reporter Emily Wilkins with us this morning from Washington. Karen Nathan, thank you, say fifty six on Wall Street and this

is Bloomberg Daybreak. February is Black History Month, and every day this month were celebrating significant moments in US black history. Now with your installment for February second, here is Bloomberg's NYO Young on this day in Black History. In two thousand nine, Eric Holder became the first black Attorney General of the United States of America. He was confirmed as

the eighty second Attorney General of the nation. Then President Barack Obama nominated Holder months before, and he served more than six years as Obama's attorney General. This made him the third longest serving attorney general in US history. Today, Holder advised its clients like complex investigations and litigation matters at international law firm Covington and Burling. That's today in Black History. I'm ni to Young Bloomberg Radio. All right, Nita,

thank you, and again. Futures on the rise this morning, led by NASDAG futures which are up two hundred and twenty five points or one and a half percent. SMP futures are up thirty five and now futures up forty five and the tenure Treasury that'll change the yield one point seven eight percent. Bloomberg Surveillance says straight Ahead with Tom Keene, Jonathan Farrell and Lisa of Ramawatts. For Nathan Hagar, I'm Karen Moscow and this is Bloomberg