Bloomberg Daybreak: February 9, 2022 - Hour 1 (Radio)

Cormo says New York COVID hospitalizations are down. The Christmas lobels Floss protests continued today in the Nmark after last week's military food not Michael barn More Ahead, John Dasher and sports. The losses continued for the Knicks and net the Devil's Wants st John's loss, and finally a gold

medal for the US at the Olympics. That's all straining Ahead on Bloomberg Daybreak on Bloomberg eleven, Freeo New York, Bloomberg on Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Syrius XM one nine team and around the world on Bloomberg Radio dot Com and via The Bloomberg Business and Good Morning, I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Day Break brought to you by SEI Challenges highlight one's character, partnership and resilience. At SEI,

they act as one community with their clients. Go to se i C dot com, slash banks, and US Future is adding to yesterday's games five oh one on Wall Street. We checked the markets every fifteen minutes throughout the trading day. On Bloomberg, SMP future is up twenty seven points down, futures up a hundred seventy nasdack futures up one hundred six The decks in Germany's up one point four percent.

Ten year treasury up twelve thirty seconds, YELD one point nine one percent, and they yield on the two year one point three one percent. Nathan Well, Karen, The rise in stocks comes as the sell often bonds takes a break. Ten Your treasury yields are retreating after US stock staged a late rallying yesterday's session. Ryan Dietrich, chief market strategist at LPL Financial says, it's a resilient market when we're carving out of bottom. We had about a ten percent

crush in the smp here um. You know, we can maybe go back down and tested from technical point of view. But the truth again is this market just kind of seems like it's choppy and wants to kind of just bide its time here. It's not necessarily bearish, maybe not super bowlish either, but after not the end of the world, after the rally we saw last year. LPL Financial Chief market Strategist Ryan Dtrich made the comments on Bloomberg Business Week.

Catch the program weekdays at two pm Eastern on Bloomberg Radio. Well over Night, Nathan, we saw stocks in Asia follow Well Street higher. We get the recap from Bloomberg's Juliette Sally and Singapore. Good Morning, Juliette, Good morning, Karen. Chinese stocks advanced in afternoon trading, tracking a rally and regional peers and a state backed funds intervention in the previous

session a laid fears of a further route. The smaller tech focused China's index also gained after entering a technical bear market in the previous session. Meanwhile, a rebound in tech shires such as Ali Baba boosted Hong Kong's market. The Hang Sing index up more than two and the back of Japan open did not to deviate from its path and portly bond purchases holding five even as yields rose to six year highs in Singapore. Juliet Sally Bloomberg Daybreak, Okay, Juliet,

thank you. Earnings continue to be a focus on Wall Street this week. Shares of Lift are down more than four percent in early trading. Revenue at the company beat estimates, but riders fell short in the face of the Omicron variant. We get the details from Bloomberg's Charlie Pellett. While Lift was benefiting from higher prices because of a shortage of drivers, it also reported fewer riders of an expected as Omicron damp.

Travel revenue rose seventy percent from a year ago. The company reported eighteen point seven million active riders in the quarter, up from a year earlier, but still short of the twenty two point nine million in twenty nine analysts were expecting twenty million. In New York. Charlie Pellett Bloomberg Daybreak, Fairly, thank you. Another stock we're keeping an eye on this morning is Containers Store. Shares her down twenty five percent

after an earnings forecast that trailed estimates. Even before today's slump container story stock was down from its peak in March. Coming up today, Karen, we get earnings from fifteen companies in the SMP five hundred and Disney headlines the less. Let's get a preview from Bloomberg's Tom Busby. The big focus for Disney's first quarter earnings today will be on subscriber growth at Disney Plus at streaming video service, has

more people shift to viewing movies and shows online. Forecast call for just over a hundred twenty five million subscribers now, a sizeable increase thanks to colder winter weather and the o macron Berry and keeping many Americans at home last quarter. Also of note, it's Theme Parks division, which may have seen a return to pre pandemic levels in December. Tom Busby Bloomberg Daybreak, Tom, thank you. Let's shift from Wall Street to geopolitics now, where the standoff with Russia continues.

Now the Senator is working on a package of sanctions to put some teeth into threats aimed at Russia. Bloomberg's said, Master has a story. Whether the Senators can get together on this and bipartisan fashion is an open question. Democratic Senator Chris Cohn says progress is being made, hopeful, and we will see a sanctions bill that has bi partisan support introduced this week. But Republican Senator Mitch McConnell, minority leader,

says it is not the right path. I don't think Putin will be deterred by any piece of legislation the United States Senate. McConnell says the President has all the tools himself to go ahead and slap on sanctions. In San Francisco, I'm at Baxter Bloomberg Gay Break, okay, and thanks. At the White House, we see a fresh push today to promote President Biden's economic agenda. He'll meet with leaders of the nation's largest utility companies as part of an

effort to promote energy and climate measures. Amy Morris has details from our Bloomberg newsroom in Washington. This is just the latest effort by President Biden to rally support from corporate leaders. The attendees, including officials from Excelon Edison International, Duke Energy, and American Electric Power, are expected to encourage

Congress to pass legislation related to climate and energy. The group also plans to push for new transmission lines and other energy infrastructure, much of which is already included in the stalled Build Back Better plan in Washington. I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you well. There's also a movement on another initiative and Congress that push the band stock trading by lawmakers appears to be gaining steam,

making the latest lie from Bloomberg's rand A Young. Good morning, Ranida, Good morning, Karen. Senate majority Leader Chuck Schumer is endorsing a ban on stock trading by members of Congress. The idea is being pushed by both Democrats and Republicans with multiple proposals, and now Schumer wants to see the ideas

merged into one bill. Senate Republican Leader Mitch McConnell, on the other hand, says he hasn't given much thought on banning securities trading, but adds that he's invested in mutual funds rather than individual stocks. How Speaker Nancy Pelosi was previously opposed to a band, but last month began to consider one. She says, if her members want to band stock trading in Congress that she supported. Live in New York, I'm Ranita Young, Bloomberg Daybreak. Okay, Ranita, thank you well.

Stocks moving higher this morning. At the index level, we have SMP futures up twenty nine points right now, deal future is up a hundred eighty three, NASTACK futures on the rise by a hundred sixteen points, The tenure treasury is up twelve thirty seconds, the yield now one nine, and the yield on the two year one point three one. Straight ahead your latest local headlines in the check of sports.

This is Bloomberg. That's five oh seven on Wall Street where thirty degrees in Central Park and we have an overturn tractor trailer southbound New Jersey Turnpike by Eggsit ten. Details coming up in traffic. First, Michael Barr is here with more on what's going on in New York and around the world. Can morning, Michael, Good morning Nathan. As COVID cases continue to drop across the country, states are

easing pandemic restrictions, including indoor mask mandates. Today in New York's Governor Kathy Hokel is set to drop the state's indoor mask mandate. This as infection rates drop across New York State and the rest of the country. We've not seen these kind of numbers since November eight. Governor Hokel is expected to keep the mandate in place for schools

in the state, at least for now. Robert Lowry with the New York State Council of School Superintendence, told w ABC that he's pleased that local is at least considering a change. She also said, you know, there's some concern about what might happen when students on staff are away from school for the the February break um, but it's but it's encouraging that it's apparent from our conversation at the state is looking at um whether and how to

make a change in match requirements. Robert Lowry, with the Council of School Superintendent says the possible change could ease some frustration among parents. Senate Minority Leader Mitch McConnell is taking aim at the r n C resolution that declared the January six Capitol riot legitimate political discourse. The Republican leader called it a violent insurrection. McConnell also says censuring GOP members Liz Cheney and Adam Kinziger is out the

rnc's job. Traditionally, the view of the National Party Committee is that we support all members of our party, regardless of their positions on some issues. McConnell says the purpose of the insurrection was to prevent the peaceful transfer power after a legitimately certified election. And Amtrak watchdog group says New York City's Gateway rail project risks further delays. Am Track's Office of Inspector General says the company is challenged

by a lack of comprehensive plans for the project. Gateway project is aimed at alleviating real congestion between New York and New Jersey. The second man charged in an alleged plot to kidnap Michigan Governor Gretchen Whitmer is expected to plead guilty Today. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven journalists and analysts in more than a hundred twenty countries. I'm Michael Barren. This is Bloomberg, Nathan. Thanks Michael.

Come up to five ten on Wall Street time for the Bloomberg Sports Update. Good morning John, alrighty morning, Nathan. The NBA trade deadline is tomorrow. Will the Knicks and Nets making ill Judgson for the last night? Both teams beat some help the Knicks in Denver. Were they having once in the two thousand six they left. The Nuggets scored eighty three points in the first half Denver on to one fifteen. The hit five players score at least

nineteen points. The Knicks have lost ten of the last twelve. Doesn't get any easier there. At Golden State tomorrow, the Nets have lost all of their last nine. Back home from an ohen five roach up, the Celtics led to two and one, one to ninety one. That's Boston sixth raight win. The Nets did not have the Big three, and no Nets starters scored more than six points. Coach

Steve Nash couldn't really blame the guys. He had to use out there and the tramp and blitz and run around and and and do things that we haven't done a ton of to mix it up and see how we did. And and Room fell down in two mets in Washington tomorrow, Devil's a seven one route of Montreal St. John's fell at home to fifteen Frank Villanova seventy five sixty top rank. Auburn lost in overtime at Arkansas. The Giants new defensive point there is Don winked Martindale, surprisingly

fired by Baltimore. He replaces Patrick Graham, who was offered to stay but left with the Raiders. Joe Judge going back to New England, where he was an assistant before his two year stint as Giants had to sixteen years ago, Lindsay Jacobellis was ridiculed for celebrating prematurely in her snowboard race of the Olympics. Acost her a gold medal Today at age thirty six, jacobellas one of gold, the first by the US in Beijing. John Stash award Bloomberg Sports. Yeah,

how ironic. Now we're celebrating gold belatedly, thanks John. SFP futures right now thirty points. Staff futures up a hundred eighty eight. Nastack futures are higher by a hundred twenty three points to ten. Your treasury up eleven thirty seconds, the yield one point nine to per cent. We'll check in with Bloomberg Market Senator Christine Nikino next on these markets.

This is Bloomberg Bloomberg eleven three oh weather sunshine low forties today will be part of the mostly Sunday tomorrow upper forties mix of sun and clouds by Friday upper forties to around fifty degrees currently thirty in Central Park markets.

Headlines and breaking news twenty four hours a day at Bloomberg dot Com of Bloomberg Business at Land at Bloomberg Quick Tape Free is a Bloomberg Business flash and I'm Karen Moscow US not Index futures on the rise and a sell off and sovereign bonds pausing, bringing some relief for markets whipsode in recent weeks by concerns about tightening

monetary policy. Check the markets every fifteen minutes throughout the trading day on Bloomberg S and P Future is up thirty three points down, futures up two hundred eight, nastag futures of one forty decks and Germany's of one at half percent the ten year treasury at twelve thirty seconds. He had one point one percent yield on the two year one point three one percent. Nimex screwed oils down two tenths percent or sixteen cents at eighty nine dollars

twenty cents. A barrel comic school that will change at eighteen twenty announced the euro on point one four to six against the dollar, British found one point three five seven seven, the ends at one fifteen point four three and Bitcoin this morning moving lower at forty three thousand and six hundred dollars. And today we're watching for our report on wholesale inventories at at ten o'clock. Wall Street, Time and Disney and CBS Health are among companies scheduled

to report earnings today. That's a Bloomberg business flash. Now here's Michael Barr with Moore on what's going on around the world. Uncle, good morning, Good morning, Karen. Senate Republican leader Mitch McConnell is criticizing the Republican National Committee for centuring two House GOP lawmakers, saying it's not the party's job to decide whom to support. McConnell also called the

January sixth Capital Riot of violent insurrection. Menzie Jacobellis captured America's first gold medal of the Beijing Olympics in her snowboard cross final. The US has a total of seven medals, including five silvers. Norway and Sweden er time for gold medals at four piece. Russia has the most overall medals at ten. In the NBA, the next lost the Celtics beat the Nats one one in the NHL. The Devil's won,

the Bruins and Capitals lost. Global News twenty four hours a day on a ran on Bloomberg quick Take, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. I'm Michael Barr. This is Bloomberg. Nathan. Okay, Michael, thank you. It's five nineteen on Wall Street Live from the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak. We're very pleased to be joined this morning by Bloomberg Markets

editor Christina Kino. As we see UH buying across the board. Christine, good morning, stocks getting to lift, Bond yields are falling. Now. Do you think the bond sell off is kind of found a range at this point? Yes, only feels like that's ethan at least in the short term. Though, given the price of action that we've seen over the last couple of weeks, if I were an investor, it would

be difficult for me to trust this. UM. I don't know that we're out of the woods just yet, especially with UM the big US CPI data coming tomorrow, but certainly for today, it seems like the theme is a breather in bond markets. Yeah, especially on the long end, getting a big bid this morning for the thirty year.

What's behind that, do you think? Well, certainly feels a bit like a consolidation, if you will, because that part of the treasury curve has certainly born the brunt of the sell off that we saw over the last couple of weeks after we heard from the FEDS hawkish pivot, and um other center banks followed through it. Certainly, the trade in vogue was short duration. We kept hearing that from a lot of investors over the last few weeks.

And so on a day like today, when everything is reversing just a little bit and there's this feeling of consolidation, you would expect some of those longer and treasuries and and parts of the bond market to be the first ones in line for a bit of a rebound, at least on a day. But as you mentioned, this could be a consolidation for now. Because you allude to the CPI data, the inflation print that we're going to get tomorrow.

From the investors that you're speaking to, what's their expectation about the kind of volatility we could see once we get hard numbers on the latest account on inflation. Well, there's certainly a feeling of investors bracing for any sort of risk that could come out there, whether it's a bit of a disappointment from that number or um if it surprises even more to the upside. And I think what we really have seen in bond markets, especially this year,

is that it's the return of two way risk. You know, it doesn't just go one direction anymore, which is what we saw over the past decade because center banks just keep just kept buying bonds across the globe. But now that environment has changed very much, and so we're certainly seeing more of this sort of double direction, if you will, in in bond yields. And and that's certainly something that's you know, as as evidence like today's UM a pullback

in yields after a couple of days of of climbing. Yeah, we've heard quite a bit of commentary about whether the tigure could climb as high as two and a half, maybe even three percent based on what the FED does. What's the expectation on where the FED could go from here, particularly with that March meeting coming up next month, and so much to talk about whether there's going to be not just a quarter percent rate hike, but maybe a half percent. Absolutely, I think we're calling that a supersized

rate hike in March. UM, you know, I think that still is very much part of the discussion and certainly something that investors are keeping half an eye on. But I have to say, just looking at some of the market pricing over the last couple of days, it has lost a little bit of steam just in terms of

what's built into traders expectations. And I think that's partly why we're seeing a bit of relief for bonds here, because you know, as a lot of investors have noted the pricing and just the expectation for the Fed and Arther Central Banks to really get in on a rate hiking cycle that really hit fever pitch, you know, UM over the last a few days and weeks of January

and heading into February. And so now that the markets have kind of gotten that into um its system and price some of those in, there's really only so much you can price, and so now that we're waiting for the next input, which could come as soon as tomorrow from the inflation data. It makes a lot of sense for a bit of a pause there in our last minute here, Christine and I guess we're seeing some of that relief play out in the stock market as well

as we get through earning season. It's been really interesting though to see how, you know, mrs on earnings have just been crushed while beats have gotten really outsized rewards in this cycle. Absolutely, Nathan and I think that is very much investors really looking at the fundamentals of individual companies and seeing can they withstand this environment of less support from central banks and in the Federal Reserve and

rising rates. And there has been such a focus on um individual companies fundamentals because the question is can corporates really uh standard their own and have their own merits and and capitalize on that despite the fact that they're not going to be in as supportive of an environment as they have been in the past decade. Good to have you on with us, Christine, Thanks for being here.

Christina Keno, Bloomberg Markets Editor with us this morning as we watch assets climb pretty much across the board really with SMP futures right now up thirty four point Staff futures up two hundred sixteen. NASTAC futures are higher by a hundred thirty seven points. The tenure treasury is up eleven thirty seconds, the yield one point nine the yield on the two year one point three two, and the thirty year yield right now two point to one percent.

You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather sunshine, low forties today partly the mostly sunny Tomorrow opper forties could hit fifty on Friday under mix of sun and clouds. Right now, it's thirty under a clear sky in Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio in New York.

Bloomberg E Living free to Washington, d C, Bloomberg ninety one to Boston, Bloomberg one O six one to San Francisco, Bloomberg N sixteen to the country, Sirius XM CHADO one nine team, and around the globe the Bloomberg Business apt in Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's by thirty on Wall Street. Good morning. I'm Nathan Hagril and I'm Kert Moscow, and we're just about four hours away from the open of US trading. Let's get you

have to date of the news. You need to know what this our Our global stocks are rising as to sell off in bonds hits pause, tending your treasury yields are retreating after US stocks staged a late rally and yesterday's session again more from a Bloomberg Markets reporter, Christina Kino, I think we are starting to see signs of the sell off, at least pausing, if not completely stopping. Definitely today there's this feel of a bit of a pullback, perhaps um heaving ahead of the CBI number in the

US tomorrow. That's gonna be the next big one probably. And Bloomberg's Christina Quino says technology stocks are leading gains in Europe and right now SNP futures are up thirty three points. Earnings are once again in focus today. Karen Disney leads fifteen companies reporting meantime shares of lift Or down almost four percent. The company reported fewer writers than expected in the fourth quarter as the omicron very curbed travel. Now we turn to geopolitics and the latest on Russia.

That Kremlin continues to deny any intention to invade Ukraine. Congress is split on whether to sanction Moscow sent a. Republican leader Mitch McConnell is skeptical it would be effective, but Democrats, like Virginia Congress Sloman Abigail Spenberger, says it's a viable option. We should be ready for any possible contingency. We should be ready to punch as hard as we can as it relates to sanctions at whatever point in

time we decide to move in that direction. Virginia congressom and Abigail Spenberger spoke with our Washington corresponded Joe Matthew on Bloomberg Sound On. Catch the program weekdays at five pm Eastern on Bloomberg Radio. The White House. Today, Karen, we see a fresh push to promote President Biden's economic agenda. He will meet with leaders of the nation's largest utility companies as part of an effort to promote energy and climate measures. Meantime, Nathan the plush de band stock trading

and Congress appears to be gaining steam. We get the latest line from Bloomberg's Rnita Young. Good Morning, Radida, Good morning Karen. Senate Majority leader Chuck Schumer is endorsing a ban on stock trading by members of Congress. The idea is being pushed by both Democrats and Republicans with multiple proposals, and now Schumer wants to see the ideas merged into one bill. Senate Republican leader Mitch McConnell says he has

not given much thought to the idea. How Speaker Nancy Pelosi was previously opposed to a band, but says if members want it, she'll support it. Live in New York, I'm gonna need a young Bloomberg daybreak, alright, you need to thank USMP Future is up thirty four points a DAL futures up two hundred sixteen and Aztec futures up one d forty. The ten year treasury up ten thirties seconds one point nine two percent, and they yield on

the two year one point three one percent. And straight ahead your latest local headlines plus a check of sports, and this is Bloomberg. Thanks Karen. Three on Ball Street thirty degrees in Central Park and a big issue on the south bounder juicy Turnpike truck lanes. There's an overturned tractor trailer in Greg's at ten. The tails 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, New York's governor and health officials are planning changes into COVID masked mandates. One of the man dates for requires face coverings and schools, and the other man dates that they have them in other public indoor settings. Democratic Governor Canthy Loco plans to announce today which rules will stay in place. She had hinted the

school mandate might remain in place for now. Robert Lowry with the New York State Council of School Superintendent, says that he's pleased that local is at least considering a change. It's encouraging that it's apparent that the governor, her staff, health up parment officials are having conversations about, uh, what we justify a change in mass requirements. Lowy with the New York State Council of School Superintendent, spoke to w ABC.

Sentate minority leader Mimtch McConnell is denouncing the Republican National Committee for centuring two House GOP lawmakers investigating last year's capital riot. McConnell called the riot of violent insurrection the issue is whether or not the RMC should be sort of singling out members of our party who they have different views from the majority. That's not the job of the RNC. The RNC last week voted to since your Representatives,

Liz Cheney and Adam Kinziger. The RNC resolution called the January six riot legitimate political discourse, and that prompted a firm pushback from several GOP senators. CDC Director Dr Rochelle Willinski says, now is not the moment to drop mask man dates in schools and other public places. I don't think where they are right now. UM. I know people are cautiously optimistic. I am cautiously optimistic about watching our cases come down, and they've come down quite a bit,

but we're still at two cases a day. Dr Rochelle Willinski Global News twenty four hours a day on a or and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan. Okay, Michael, thank you on Wall Street time for the Bloomberg Sports Update. Here's John stan Shower. All right, Nathan, between the Knicks and Nets. Hard to say which team is struggling more

right now, and that's just at a No. One five road trip and Knicks row one three so far on their five game trip in Denver, where the Knicks incredibly having won in sixteen years, the Nuggets scored eighty three points in the first half. They won one thirty two to one fifteen. The Knicks have lost tenant fwelve. Their coaches Tom Tibou the first quarter, I thought we've played well. Um. I thought the starters got us off to a good start, uh,

both offensively and defensively. And then the the when we broke the line up, we lost our defensive component. Knicks. I have to play Golden State tomorrow and R J. Barrett, Knicks best player, limping off the court last night injuries derailing the Nets. No Kevin Durando. James Harden's got a hamstring injury al though some wonder if the Nets kept hardened out because they're about to trade him. Will know by tomorrow's deadline. The Nets lost their ninth in a

row to sell six one one ninety one. They led early on two Devils won seven one of Montreal Surious Valley for St. John's. They trailed Villanova by twenty with four minutes left and cut at the three. Nova held on seven nine. Fordham in Manhattan both lacked. Joe Judge fired his Giants coach has a job. It's his old one. He will again be an assistant to Bill Belichick in New England. The new Giants defense to Forde There is

Wink Martindale from Lee with Baltimore. Took five days, but finally a U S gold medal at the Olympics that comes from thirty six year old Lindsay Jacobellis in the snowboard cross. But another disappointment for Michael Is Schiffer in second straight time. She had an early ball. John Stashoward Bloomberg Sports naked All right, John, thank you. It's final thirty seven on Wall Street. Time for the Tri State

Business Report. Here's Bloomberg's at Cory. Deutsche Bank and UBS are among six financial firms working with the New York based nonprofit to reduce stigma around mental health. The program comes about two years into a pandemic that handed Wall Street firms a win fall amid a frenetic paste of training and deal making, leading employees to complain about burnout. Amtrak needs a better management plan to avoid further delays in the Gateway project, aimed at alleviating rail congestion between

New York and New Jersey. That's according to the company's Office of Inspector General, which cites challenges and handling personnel needs, communications, and assessing broader risks for the project. Rock salt is tough to come by in eastern Connecticut after a local New London supplier closed. The company d r v N left its location at State Pier because the area is being redeveloped into a hub for the offshore wind industry. Are Bloomberg try State Business Report. I'm Ed Corey. Thanks

that It's five thirty eight on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. Let's check in with our global news team for some of the top stories heard on our three hundred affiliate radio stations around the world. I'm Steve Potaskan on ten ten Ways in New York. We're talking about how many more people need to start saving

for that rainy day, according to a new service. I'm Corney Tannahall on Cafe bian Omaha, Farm productex Sports hit a record one hundred seventy seven billion dollars last year. I'm calain Head Gold Bloom and Davey Digital Radio and London work putting on the warning from Charlie Bean and Andrew Tyree to the Bank of England's independence is at risk if Treasury changes part of its funding models. I

did couring on w w J and Detroit. I'm reporting an auto parts maker says road tests deporter crossings between the US and Canada could bring the auto industry to US reaches Holden about two days. Those are some of the stories our twenty seven hundred Bloomberg journalists and analysts are working on this morning around the world. It's five thirty nine on Wall Street. The following is an editorial

from Bloomberg Opinion. Four states, Connecticut, Delaware, New Jersey, and Oregon have recently announced plans to end mask mandates in K through twelve schools. Others may soon follow suit. It's about time to be clear. There's evidence that masks have been useful in blocking COVID infections in educational settings, but there are also worrying signs that they impose costs on

children's social development. With case numbers dropping, it's reasonable to recalculate the balance between the protection masks provide and the difficulties they impose. In doing so, it pays to remember that school aged children have a relatively low risk of hospitalization and death from COVID, especially if they're vaccinated. For now, and unless COVID resurges in some new form, the potential harm caused by masks seems to outweigh the benefits. States

and school districts should rethink their policies accordingly. This editorial was written by the Bloomberg Opinion Editorial Board. I'm David Shipley. For more Bloomberg opinion, please go to Bloomberg dot com, slash opinion or ope and go on the Bloomberg Terminal. Vase has been Bloomberg Opinion, and you can hear Bloomberg opinion editorials every weekday. At this time, terminal customers can read more at O P I N GO SMP futures up thirty two points now futures up a D ninety

seven nanstack. Futures are hired by a hundred thirty nine points in the tenure treasury yield one nine to per cent. This is Bloomberg Bloomberg eleven three oh weather mostly sunny today, low forties, will be in the upper forties under appartly the mostly sunny sky and will have a mix of sunning clouds by Friday, with highs again in the upper forties. Right now, it's thirty and clear in Central Park markets.

Headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business Out and at Bloomberg Quicktape He's a Bloomberg business flash and I'm tem in Moscow. US dot Index futures on the rise this morning and a sell off in sovereign bonds pausing bring some relief for markets that are whips on in recent weeks by

concerns about tightening monetary policy. We checked the markets every fifteen minutes throughout the trading day on bloomberg S and P futures up thirty two points down, futures up two hundred two, NAS day futures up a hundred thirty eight and the decks in Germany's up one point six percent. Attend your treasury up ten thirty seconds. You at one nine two per cent yield on the two year one

point three two percent. Nine x screwed oils down half percent or forty one cents at eighty eight dollars ninety six cents a barrel. Comic school Lit'll change at eighteen twenty seven eighty announced the euro one point one four three nine against the dollar, British found one point three five eight two, the ens at one fifteen point four six and Bitcoin this morning moving lower at forty three thousand, five hundred sixty dollars. And that's a Bloomberg. US is flashdown.

Here's Michael bar with more unless going on around the world. Michael Karen, thank you very much. Protest here's blocking traffic between the US and Canada to oppose vaccine rules are further stretching of thin auto supplied chain. Protesters also traffic at the Ambassador Bridge that connects Windsor, Ontario, to Detroit. It is the busiest borderlink for goods moving between Canada and the US. New York and Illinois will lay out

plans today to phase out some mask mandates. Lindsay Jacobellis captured America's first gold medal of the Beijing Olympics in the snowboard cross final. The US has a total of seven medals, including five silvers. NBA Action the next loss. The Celtics beat the Nets on the NHL. The Devil's won, the Bruins and Capitols lost. Global News twenty four hours a day on air and on Bloomberg Quickdake, powered by more than twenty seven under journalist and analysts in more

than one twenty countries. Michael var and this is Bloomberg, Nathan. Okay, Michael, thanks for coming up to five forty nine on Wall Street Live from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. We want to get more now on the pandemic with these trucker protests continuing and mask mandates being lifted. Dr Stewart Ray is with us now Vice Chair of Medicine at the Johns Hopkins University School of Medicine. Actor.

It's good to have you with us as always. I just saw a headline cross of Johns Hopkins data showing that the world has surpassed four hundred million known coronavirus cases as of yesterday. Just a month ago, we were at three hundred million around the world. I guess if nothing else, it says just how dramatic the spread of oh macron has been Yes, it's a scale at which I don't think any of us could have imagined two years ago. It's really come across the world, and of

course there's likely undercounting of cases. So going forward, it's going to be uh interesting to see how we face this. And it's been interesting as well to see the push in a number of states, particularly in the Northeast, to ease up on public health restrictions the mask mandates that sort of thing, even as we are seeing this dramatic rise in case counts from a public health perspective. What's the view on that in terms of easing up on

mask mandates. Well, I think we all recognize that folks are exhausted, and I don't think that if we were starting out now with deaths a day or more that we would be accepting the current situation is as acceptable. But I think I was also a big part of this is that mandates or not, people really should be thinking about how effective masks are in the reality that we need to limit spread of this virus. It's a shame that mandates are the big conversation when it should

just be the sensible to wear a mask. And that's where really where we need to get And if we can duh politicize the wearing the masks and just wear them when rates are high, that would be really helpful. Well, there has been some mixed messaging, hasn't there about the effectiveness of masks, whether it's cloth masks or kN ninety five or ninety five. In terms of that, can you provide a little more clarity about the type of mask that works well and why people should be wearing masks

even if they're fully vaccinated and boosted. Well, certainly have the last two years we've learned a lot. And when we started out, we didn't understand how important masks would be.

We didn't understand how important aerosolt transmission was. So now that we have so much more information, it's very clear that masks are very effective for limiting transmission of this virus, and that cloth masks are, especially single layer cloth masks, are very minimally effective, whereas UH what we call surgical masks, those UH pleated masks that are handed out in healthcare establishments,

those are actually remarkably effective. It is true that UH in ninety five, KLF ninety four, kf K KID ninety five masks. Respirator masks are more effective when worn properly. But the big thing is that the mask that works is the one that you that you wear well and that you can actually keep on. I find that uh, some of the other rest bry masks, like the KF ninety four's and K ninety fives are more comfortable to wear for long periods of time when I'm out moving

around in businesses and things like that. Those are very highly effective, probably a little more effective than the searchable masks, but only if worn well. And so I think people just need to try to find one that that is comfortable for them and where it. I only have about thirty seconds left here, but I want to get your thoughts on these trucker protests have been going on north of the border for nearly two weeks now. Do those have an effect on the public health? Well, I think they.

When people protest mass mandates, it further divides us on the wearer the masks. And I hope that folks look at those as uh struggles around the political divisions and not about the ethcausey of masks. And if we can just uh where these I think that I don't know whether there are crowdy issues around the protests. I don't know if they in themselves are spreading events, but we do need to try to get past this notion that

there's a battle overmasking. Uh. And I'm not sure exactly at a policy level, but the best way to communicate about that is all right. We was always thank you for your insights, Dr Ray. Dr Stewart Ray from the Johns Hopkins University School of Medicine, where he is Vice Chair of Medicine. Karen Nathan, it is fifty three on Wall Street. Time for the Bloomberg Law Report. Let's get to the legal stories we're watching this morning. From Bloomberg's

Jeff Bellinger. The page and seizure drug gave Penton is under fire for its alleged role in the overdose crisis. A consumer advocacy group is urging the government to classify the prescription drug as a controlled substance. American Airlines is being sued in federal court in Chicago. The carrier is accused of failing to properly compensate hourly paid employees for

time spent on mandatory training. General Motors was sued in Michigan federal court, a former employee says g MSN's legally deficient notices and forming former workers of the right to remain on the company health plan. 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 former Alaska governor and vice presidential candidate Sarah Palin. She claims The New York Times hurt her reputation with a twenty seventeen opinion piece that tried to tie her political rhetoric to a deadly shooting. The Times admits and made a mistake, but says it corrected the story within twelve hours. Now, a New York jury will decide at

the Times is guilty of defaming Palin. For more in the case, Bloomberg joing Grosso speaks to Godam Hans, professor at Vanderbilt Lot School, the Times hasn't lost a defamation case in more than half a century, So is that a very high bar for plaintiffs to get over? Yes, very difficult for plaintiffs to prevail in defamation cases, particularly when they're public officials like Sarah Palin because of the Supreme Court's decisions dating back to the Sullivan case from

the early sixties. That's why, as you noted, the Times says frequently prevailed as it offended. In such cases, the Times argue that it was an honest mistake and that it corrected the errors in about twelve hours. Is that a good defense under the Sullivan standard? Yeah. I think that's the strong point in the Times of favor, that

they acted expeditiously, relatively speaking, to correct it. I think that the plaintiffs, Tara Palin and her legal team would probably note that twelve hours and a digital ECO system is like twelve days in the past, and that's maybe part of why they think that Sullivan doesn't work well in today's media landscape because of the seleration of the I'm horizon. But you know, that's not part of the current standard under the law. Perhaps it might be if

that's where it goes on appeal. If Palin loses here, what does Supreme Court take this case? I think it's hard to say. I do think that Palin and her legal team realize that it's going to be difficult for them to win under the current law. Sometimes people bring cases thinking that, well, maybe we'll lose at the trial level, maybe we'll even lose at the appellate court level, but we're going to aim for the Supreme Court, so we can try to get the change to the law from

the Supreme Court. And I think in this case that's not a wild bet to make, because at least two Supreme Court justices have some concerns about the precedent from the sellative case. Both Justices Clarence Thomas and Neal Courses have made written statements saying that the Sullivan precedent and potentially the actual malice standard need to be revisited or

should be revisited by the Supreme Court. So it takes four votes on the Supreme Court to grant sir ser ari for review of a case, and we know there are possibly two, So that's halfway there. I think the possibility that there are another two, it's certainly conceivable to me. And as Vanderbilt the law professor Godam Hans speaking with

the Bloomberg student Grosso. Okay, it's more of that interview plus analysis of the latest legal news by subscribing to the Bloomberg Law podcast or downloading the show at Bloomberg dot com, slash podcast. Attorneys can find exceptional legal research and business development tools at Bloomberg law dot com and at the Bloomberg terminal at v law, Go and futures. This morning on the Rise, Our top stories are straight ahead as Bloomberg day Break continues. This is Bloomberg