Bloomberg Daybreak: January 7, 2022 - Hour 2 (Radio)

fungible tokens. Road crews are busy treated streets for the snowy morning commute plus its sentencing day in Georgia with three white men at the murder of a mod Aubrey, I'm Mike ol Blarm more ahead, I'm stay Sharon. Sports, A big comeback is shot at the Buzzer and the nixt beat the Celtics. The Devil's won, the Rangers walk.

That's all straight ahead on Bloomberg day Break on Bloomberg eleven, Treeo, New York, Bloomberg Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen and around the world Old on Bloomberg Radio dot Com and via the Bloomberg Business. Good Morning, I'm Nathan Hagar and I'm Karen Moscow and US futures are higher this morning ahead of today's johnser Ford. We're coming up to six oh one on Wall Street, and we checked the

markets every fifteen minutes throughout the trading day. On Bloomberg, Guess and D futures have eight points down, futures up forty one as day Future is up twenties three. Tenure Treasury that'll change. They had one point seven two percent. They yield on a two year point eight seven percent and bitcoin at forty two thousand, two hundred dollars. Nathan, all right, Karl, we'll have more markets in a minute. First, a snow storm continues to blank at much of the

Northeast this morning. Let's get the details and how may affect the roads from Bloomberg Meteorologist Rob Caroline. Good morning, Rob, Good morning, Nathan. The storm that's in the process of developing off the coast of southern New England. While it's already brought some snow to the district in Baltimore, though the storm is about done there, they'll have very little additional accumulations. In fact, the sun will be coming out

quickly this morning. New York City henty at aditional accumulations this morning or under two inches. The snow should be done in the Tri State area by about midday, and as we head up into Boston there, the storm is only getting going now. We'll be dealing with snow heavy times through the morning commute and into the midday hours. It looks like Boston's probably gonna receive the highest totals from this storm. Okay, Rob, so what kind of accumulations

are we thinking we're gonna get from this storm? Well, Nathan, there aren't going to be any additional accumulations of snow in the district of Baltimore. The New York City area probably comes in around three, maybe as high as six inches in some spots. It's Boston that gets the jackpot. There'll be four to seven inches in the Boston metro area, and there will be some area southwest of Boston that

could have over nine I'm Rob Caroline Bloomberg. Daybreak. All right, Rob, thank you, and I'll be checking in with you all morning. But first we turn to the markets. We're capping off a volatile week with a highly anticipated jobs report for December. Estimates call for payroll gains of four hunt seven thousand. Here with Moore is Bloomberg Economics correspondent Michael McKee. Two questions hanging over the December payrolls report. Will there be

an omicron effect? And how the FEDS see the report in the context of policy moves. The survey week was in the first half of December, before the COVID variant dominated the news or infections. ADP says it didn't affect hiring all that much, reporting a big gain in leisure and hospitality jobs, but the I s M Services Index suggests services hiring slowed during the month. The December fifteen FED minutes released this week show policymakers felt then the

US was close to full employment. If that's ratified by the monthly jobs report, it may mean the Fed is ready to start raising rates. Michael McKey, Bloomberg Daybreak, All right, Mike, thanks, So when it comes to FED policy, St. Louis President Jim Bullard's weighing and he's enforcing the view rate hikes could start this spring. The FC could also begin raising the policy rate as early as the March meeting in order to be in a better position to control inflation.

Jim Bullard made the comments to the c f A Society in St. Louis. Traditionally, he has been one of the most hawkish members of the FED. Jobs matter to the Fed, Nathan, but so does the pandemic. Coronavirus cases continue to come in her record highs and testing remains a challenge. Abbot Laboratory CEO Robert Ford tells US he's

renting up production of COVID tests. We've seen obviously a new variant, a pretty highly transmissible variant, in combination with a period of the year where there's a lot of travel, Thanksgiving and Christmas, people wanted to get together. Uh, the combination of those two factors really had a pretty unprecedented demand here. Abbot CEO Robert Ford said the company expects

to produce seventy million tests this month. Well. Meantime, Karen, the White House, and the US Postal Service are making final plans to deliver five hundred million test kits to households. That's according to The Washington Post, which says they want to start shipping tests by the middle of this month. An official announcement could come next week. From New York to l A Nathan, major metro areas across the country

are getting hit hard by COVID. Some of the details now from Bloomberg's at Bachelor Beginning in Chicago, almost nine of the city's ICU beds are occupied. To this canceled classes for a third day because of case is and disagreement with teachers over COVID tests. Meanwhile, New York City expects to have two and a half million more at home tests in hand today, but they are going for

the reopening of schools. In Los Angeles cases of Sideline, more than eight hundred police and firefighters in Alaska, airlines cut one twenty flights yesterday and according to flight Aware and industry wide, almost two thousand flights because of employee illness combined with weather in San Francisco. I'm at Baxter Bloomberg daybreak, all right, thank you. With flights canceled, the

travel industry is under pressure again. Marriott president Stephanie Leonard says, these are real challenges, but they won't derail the recovery. And while there was bumps from Delta, the business came back very clear, very quickly when we got past that variant. We're anticipating the same thing with with O Macron that we will see some bumps in the recovery, and it depends we have dirty brands in a hundred and forty countries, so we'll see some bumps that we don't think it's

going to stop the recovery. Marriott president Stephanie Lennar. It's made the comments in an interview on Bloomberg Television. Shares of Marriott are trading near an all time high to start the year. O Macron continues to impact the workplace, Nathan. Bank of America is the latest company pushing back return to office plans, and we get the story from Bloomberg's Turlie Pillett. The company encouraged its US employees to work remotely through the week starting January tenth, is the bank

evaluates its next move. This according to an internal memo the firmhood earlier advised workers to stay home through at least this week. In the memo, the bank also continued to encourage staff to get fully vaccinated and receive booster shots, stopping short of implementing a full mandate. In New York, Charlie Pellett Bloomberg Daybreak, Thanks Charlie. In the markets today, the turbo charged worlds of cryptocurrencies and meme stocks have collided.

Bloomberg News has learned game Stop plans to launch a marketplace for non fungible tokens by the end of the year. Companies also in talks with crypto and blockchain companies about which tokens could be used on the platform. Shares of game Stop are up in early trading. Futures are higher, SMP futures up almost nine points, staff futures up, NASTACK futures hired by thirty points. The tenure treasury little changed.

The yield on the tenure note one point seven two straight ahead local headlines, check of sports and this wintry weather. This is Bloomberg at six o seven on Wall Street. Is indeed snowing still twenty nine degrees in Central Park and a number of accidents that Peter Van will have details on for you shortly. First Michael Barr with what else is going on in New York and around the world. Good morning, Michael, Good morning, Nathan. Bards of the Dry

State area are under a winter storm warning. The fast moving system is expected to dump up the six inches of snow by the end of the morning, but it will make the commute a mess. Emergency preparations are underway, but with record COVID cases and isolation rate, some departments

are working at a disadvantage against the incoming weather. Edward Grayson, the commissioner of New York's Department of Sanitations, as he believes they'll have enough staff to prepare for the storm, but they'll have to extend shifts and work around current shortages, just like all the every other city. And see, we've been definitely hit hard in this recent wave and up

taking COVID cases. Right now, we're about staffing outage. Sanitation Commissioner Grayson says, for now they will be operating in twelve hour shifts. It is sentencing day for three white men convicted of murder in the deadly chase and shooting of Amat Aubrey In November. A Georgia jury found father and son greg and Travis McMichael, and their neighbor William Bryan, guilty of murder and other crimes in the February killing

of the twenty five year old black men. University of Georgia law chair Emeritus Ron Carlson says Superior Court Judge Timothy Walls me will have limited options because murder carries a mandatory life sentence in Georgia. The judges options are very narrow, but these are very important distinctions. Does he levy a sentence of life without parole or life with Pearoll Carlson with the University of Georgia says the jury's verdict sent a message that vigilante justice will not be tolerated.

Former New York Governor Andrew Cuomo is sent to make a virtual appearance today before an Albany judge, prosecutors and moving to dismiss the only criminal charge filed against the Democrat in connection with the sexual harassment allegations that drove him from office. It accused Cuomo of groping an aid in the executive mansion in December of eight months before he resigned. Online sports betting in New York is a

day away from reality. The New York Gaming Commission says that it has approved mobile operator licenses for Caesar's DraftKings, Van Duel and Bett Rivers Rushed Street Interactive. They can begin taking wagers as of nine am local time Saturday. Global News twenty four hours a day on air and on Bloomberg quick Take, powered by more than twenty seven journalist and analysts more than a hundred twenty countries. I'm Michael barn This is Bloomberg, Nathan. Thanks Michael. Coming up

to six ten on Wall Street. Time for the Bloomberg Sports Update with John Stshower. Thanks y Thing. An absolutely epic game at the Garden. This game had everything, a big comeback, the Knicks trail of the Celtics by twenty five in the first half, they're still down eighteen and the third quarter. A tremendous individual performance. The ex Celtic Evan Corny, who had already had two thirty two point games versus Boston, went for a career at fourty one.

He tied a Knicks record with ten three pointers. And this game had an amazing finished. Our shotline half court left one point five ago a tie game and one of five to Barrett one triple right way great for the win. Baker is one hit, backed in, Barrett backed in and had the Nicks tip point football game at the bush Town. Told it on w E P N r J. Barrett, who scored thirty two the other night, was having a bad game. He had shot three or four teen before hitting the game winner. The same two

teams play again tomorrow night in Boston. The next way Milwaukee tonight in Brooklyn, which means Kyrie, you're being not play you know the vaccine mandate. You gotta wait till the next road game, which is Monday in Rangers on the road five streat games and not a good start for the trip. At five one loss at Vegas, Rangers only had nineteen shots on goal. The Devil's beat Columbus three to one. Jack huss In on all three of goal and two assist. Eric Shabba has just hired to

be the Yankees assistant hitting coach. He's already resigned he got a better job as the Mets hitting coach. Season finales with the Giants and Jets Sunday. The Giants limped to the finish, hosting Washington. Patriots fans will root for the Jets to upset the Bills in Buffalo and New England needs will win in Miami and a Buffalo Laws to win the A s t E. John Scotch, Award Bloomberg Sports Nathan all Right, John, thanks right now. SMP futures are up almost ten point stuff futures of forty four.

Danstack futures higher by thirty eight points ten, Your treasury yield one point seven two per cent, and I'm ex screwed up nine tenths per cent or seventy five cents at eighty dollars one cents a barrel. Ahead of the December payrolls report. We'll get a preview next with Bloomberg Economics correspondent Michael McKy. Stay with us. This is Bloomberg Bloomberg eleven three oh weather, the winter weather advisory and effect all morning. Could see another inch on top of

the light snow this morning. The high in your thirty five degrees, mostly sunny, low thirties tomorrow rain and a high near forty on Sunday, currently snow in twenty nine markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. This is a Bloomberg Business lash and I'm

Karen Moscow. US dot index future is on the rise this morning, the dollar falling as risk taking returns to markets at the end of a turbulent week with investors wagh in US employment gains against the federal reserves policy

tightening lands. We check the markets every fifteen minutes throughout the trading day on Bloomberg sp futures of eleven points this morning, down futures at forty one as day a few years of fifty one, the decks in Germany's down a tenth of upper set, and your treasury down Moneth thirty second he has one point seven two percent, a yield on the two year point eight seven percent nim X screwed oils of nine tenths percent or seventy one cents at eighty dollar seventeen cents of barrel comic school

that will change at seventeen eighty nine. The euro one point one three oh two against the dollar, British bound one point three five four or five, and the NS at one fifteen point eight three And checking bitcoin this morning moving lower down one point nine percent at forty two thousand, three hundred dollars. And that's a Bloomberg business flash. Now here's Michael bar with more on what's going on

around the world. Michael Karen. The Supreme Court is taking up two major Biden administration efforts to pump up the nation's vaccination rate against COVID nineteen. The justices are hearing arguments today about whether to allow the administration to enforce a vaccine or testing requirements that applies to large employers

and a separate vaccine mandate for most healthcare workers. The White House and US Postal Service are making final plans to deliver five hundred million coronavirus test kits to households. The Washington Post reports officials seek to begin shipments by the middle of January. In the NBA, the Knicks beat the Celtics one oh eight, one oh five. The Warriors lost. In the NHL, the Devil's won, the Rangers and Bruins lost.

Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty journalists and analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, Okay, Michael, thank you. It is six nineteen on Wall Street Live from the Bloomberg Get Directed Brokers Studios. This is Bloomberg Day breaking as we await the release of the December payrolls report. Were joined this morning by Bloomberg Economics correspondent Michael McKee. Mike,

good morning. Seems like a lot of economists are expecting an upside surprise after this week's blowout a DP number, But as we've seen in the past, a DP doesn't always line up with what the Labor Department puts out right. Yeah, they don't match up in terms of the absolute magnitude. However, they do kind of give an idea of the level

and direction that we're going in a DP. Finding a big number for the month of December probably means that Wall Street is gonna learn lean towards an upside surprise, and that's what we're seeing in the the whisper numbers on on Wall Street this morning. The market kind of looking for about five hundred thousand. We started the week with a look with expectation of the Bloomberg survey of four hundred thousands, so we've moved up to four forty seven

for this morning. Uh, but again Wall Street looking for a slightly higher number. And I guess we're wondering whether we're gonna start to see a little bit of an O Macron effect in this number. I mean, uh, I think the December payrolls doesn't necessarily cover when O Macron first emerged, but we might see maybe a little bit of an effect there. You know, it's hard to be

hard to tell. The Establishment survey, which counts to the number of jobs created or in this case probably jobs restored, is taken in the the around the pay period that includes the twelfth of the month, so uh, some people get paid weekly, some bi weekly, so basically from the first of the month to about the seventeenth. And oh, Macron didn't really take off until after that. It was starting to be in the news, but it wasn't in terms,

and the case counts weren't so large. So it is also possible and this evidence maybe from a DP that we could see a higher a bit of a hiring surge in some service industry jobs because we were in a little interregnum between Delta and O Macron and people felt better about going out, which would be interesting to see. But it's been really, uh, sort of a challenge to gauge the health of the labor market, hasn't it When we've seen sort of subdued weekly jobless claims over the

last several months. At the same time, though, the labor force participation rate has really been stuck. This has been one of the hardest time periods for economists to figure out what's going on because there are no models for what's happened shutting down in a direct economy and reopening it.

As the pandemic continues, and you have a lot of people they call it the Great Resignation, who have decided they're gonna stay on the sidelines, either permanently or for quite some time, either because they were going to retire anyways and it's been a baby boomer thing, or because they built up enough savings from the government stimulus that they can sit on the sidelines until they feel safer

about going back to work. And of course, now that school's back in session, we have a lot of people who are concerned about childcare if the schools are closed. So a lot of things contribute to making this really hard to forecast, and that points to the breakdown of ages in the labor force participation rate as well. What's the expectation going into this report about how that could break down. Well, we're looking for a tick upward to sixty one point nine in the labor force participation rate.

It was almost sixty three before the pandemic began, so we've got a ways to go to catch up and probably won't be doing that anytime soon, which keeps the unemployment rate falling. The biggest departures from the labor force are those who are older and older, but the prime age workforce has started to come back, and we'll see if that trend continues. And what's the trend when it

comes to wages. We've heard so many reports about businesses offering big retention bonuses and raising regular wages as well. What are we looking for there? That's the number of the FED is going to be really concerned about. Are we going to see some kind of a wage price spiral? And for that we would need to see continuing increases in wages. And it's kind of hard to know because we're still trying to get back to where we were

with jobs. How much of this is a one time increase because companies are trying to entice people back to uh the office, and how much of it is an ongoing We've got to keep raising wages because we can't find anybody to work, which means we have to raise prices to pay for it. Uh. That's gonna be something to keep it out. And in our last thirty seconds here, is there a risk that a downside surprise could shake the FED when it comes to the path on policy tightening.

I wouldn't worry too much about a downside surprised because the Fed's not tightening yet. It only would push back the idea of radio increase in March. But if we get a strong upside surprise, then you'll see a lot of movement towards pricing in a definite move in March. Are all right? Bloomberg Economics correspondent Michael McKee with us this morning before the release of the final UH snapshot on the US labor market. The December payrolls reporte do

out at eight thirty am Wall Street Time. Stay with Bloomberg Radio and Bloomberg Television for complete coverage of the numbers and analysis, including reaction from Labor Secretary Marty Wall. She's gonna be joining us around ten am Wall Street Time on both Bloomberg Radio and television. You'll definitely want to tune in for that conversation. Looking ahead to the market, open SMP futures are up eleven points, Staff futures up fifty one. NEST future is also higher by fifty one points.

It turns out this is Bloomberg Bloomberg eleven three oh Whether the winter weather advisory continues through the morning. Another inch or so of snow possible behind your thirty five degrees low thirties tomorrow rain near forty on Sunday, twenty

nine degrees. Right now, broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston Bloomberg one six one to San Francisco Bloomberg and on sixty to the country Sirius XM to the one nine and around the globe to Bloomberg Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow. Were just about

three hours away from the open of US training. Let's get you up to date on the news. You need to know what this hour. Snow blanketing the Northeast this morning. More on that coming up with Bloomberg Meteorologists robbed Caroline. But first futures are higher ahead of the December jobs Your port economists are forecasting a rebound from last month with the game of four hundred forty seven thousand jobs,

and we get more from Bloomberg's Vinie Del Judas. US payroll broke mr Wall Street forecasts in November with a tepid Game just two hundred ten thousand, the weekest showing since December Bloomberg Economics as the COVID nineteen omicron variant could weigh on the December data. At the same time, weekly jobless claims remained near a half century low, running at two hundred seven thousand, and US job openings have

been running at all time highs. Bloomberg Daybreak Penny thanks trainers will be watching that job's data for any hints on future FED policy. St. Louis Fed President Jim Bullet is weighing in. He says the Central Bank could start hiking rates as soon as March. Well, Nathan, The FEDS also watching the pandemic as COVID cases continue to come

in near record highs. Testing also remains an issue, and now the Washington Poster Ports and White House is working on a plan to deliver five hundred million test kits to households. Now Let's turn to markets here, and shares of game Stop are up nine in early trading. Bloomberg News has learned the company plans to launch a marketplace for non fungible tokens by the end of the year.

We get more from Bloomberg's Charlie Pellet. The source says it's in talks with crypto and blockchain companies about which tokens could be used on the nf team marketplace. It's also said to be discussing with partners the potential for creating a number of funds of up to one hundred million dollars each to invest in n f T content

creators and gaming companies. Over the last few months, the source says game Stop has assembled a team of more than twenty people that's focused on the crypto related push in New York. Charlie Pellet Bloomberg Daybreak. All right, Charlie, thank you, and Bitcoin is falling this morning. This latest slide has the digital token now trading at its lowest level since September. It's off about from its record reached in November and checking Bitcoin right now down more than

two percent at forty two thousand, two hundred dollars. Futures are higher, SNP Future is up ten points Down Future is up thirty two. Nasday Future is up fifty. The decks in Germany's down two tenths of upper cent ten. Your treasury little change you at one point seven two percent in the yield on the two year point eight seven percent. Non max screwed oils up seven ten percent or fifty five cents at eighty dollars one cent a barrel. And comexs gold is up a tenth of a percent,

and straight ahead your latest local headlines. As well. As I checked on the snow, we checked sports as well, and this is Bloomberg all right, Karen, thank you? Six thirty three on Wall Street, twenty eight degrees in Central Park. Is that snow continues to fall and cause a lot of accidents on the roads this morning, Michael Barr, what's going on? Oh my? The snowy weather zoom backing the Tri State area in New Jersey, Governor Phil Murphy has

declared a state of emergency. Winter storm Mornings have also been issued for Long Island. In Connecticut, Governor ned La Matez closed state offices. Let's get a look at the weather system that's causing headaches with Bloomberg meteorologious Rob Caroline. Michael. The snow across the Tri state area will taper off an end around midday, it's already ending down around the Washington area, and that trend will work its way towards

the north and east. This morning. Again, the worst of the weather is going to be off to our north and east, out out towards New England, where they could see over half a foot in some spots. Much of the Tri state area picking up a couple of inches and again improving conditions for the afternoon. I expect the afternoon commute to be much better than this morning's. Michael, Thanks Rob. Emergency preparations are underway to get the streets

in shape because of the winter weather. New York Sanitation Commissioner ed Grayson says the city is well prepared for the snow in the end of the day. We have a very robust number of staff to be able to man all about a full soft spread of compliment, a large number of clouds on extended towards We're gonna shift

our operation to two twelve hour days. Edward Grayson of New York Sanitation Department says there are ready despite a staff shortage due to COVID and as Rob Carolin mentioned, many areas will get about several inches of snow, but other areas under the emergency could get up to six inches maybe more. Three white men convicted of murder in the deadly chase and shooting of Ahmad Aubrey are due

back in court for sentencing today. Georgia jury and November found father and son greg and Travis McMichael and their neighbor William Bryan, guilty of murder in the killing of the year old black man. University of Georgia Law chair Emeritus Ron Carlson says it's likely the judge already has an idea of what the sentence will be. The jury's verge sent a message that visual handed justice will not be tolerated, and the chances are the judge will reinforce

that message. Emeritus Ron Carlson says it's unclear whether the Michaels and Brian will speak publicly during sentencing. The mandatory minimum is life in prison. Representative Adam Kenzinger of Illinois, only one of two Republicans on the Householuct Committee investigating the January six capital attack, reflected on that day, Kinsinger told Bloombridge Joe Matthew the Republican party divide could get worse.

I think leaders had an opportunity after January six to stand together and actually do what the title says, to lead and say, look, this election wasn't storm representative Kinsinger Global News twenty four hours a day on a errand on Bloomberg Quick Take Power about more than the twenties seven hundred journalists analysts more than a hundred twenty countries. I'm Michael barn This is Bloomberg native. Okay, Michael, thanks sixty six on Wall Street time for the Bloomberg Sports.

I think here's John's stating, all right, Nathan. The Knicks and ceth Tics opened the season with a double overtime. Knicks went at the Garden. Their game last night may have topped that one for drama. The Knicks trailed by as much as five, didn't take their first lead until just over two minutes to play the Celtics. Jason Tatum had a game time shot for a second and a half ago, so it looked like overtime again. R J. Barrett banked in a three pointer at the buzzer Nicks

one one oh eight type of shot. You know Jason is so tall, but uh yeah, I mean every talk about shoot, I think he's going in. Man. That was crazy. Honestly didn't even I didn't even really see it because I failed. I didn't even see it go in. But just from everybody else's reaction in Marcatel, that was cool. Barrett, who scored thirty two points in the win the other night, had shot only three or fourteen before hitting that game winner.

Evan Fourny, who did not score a single point in that recent went over Indiana last night, erupted for a career high forty one point. He tied a Knicks record with ten three pointers. He made ten of fourteen and three games versus his former team this season, Fournier is averaging thirty six, far and away his best three games with Nick. Emanuel quickly played a big role in the comeback. He sports sixteen. Tatum led Boston with thirty six. Same

two teams again tomorrow night in Boston. Next tonight host Milwaukee. The Rangers lost five one in Vegas. Chris Pryor. The only Ranger goal is one Devil's Great Columbus, three to want Jack do a goal and two and six mart Olevan you taught Jackson or Rudy Gobert came the first athlete and knowingly test positive for COVID. The NBA immediately

shut down. Everyone else followed. Stood yesterday Gobert tested positive against are Blombergs towards Thank you, Johnny is coming up to six thirty eight on Wall Street Time to take a look at stock some of the names moving in the pre market. Bloomberg, Radio and TV markets corresponded, Creedy Gupta is with us this morning, starting off with a meme stock name that's looking to the future, apparently, Creedy. Yeah.

I mean a year ago, Nathan, we were in the middle of a meme stock frenzy, and it's like we're starting two to the same degree, except this time there might be some fundamentals to back it up. Game stop gm e's your takers soaring nineteen percent in the pre market after they announced or I should say DA Johns reported that they entered there are entering, sees me the n f T and crypto markets trying to build an

online marketplace that will launch later this year. It sounds like they've already hired about twenty people to build out the operation, and, like you said, in anticipation of that launch later this year, where they will be partnering with some of those crypto makers and other major partnerships. So

once again, gmmy is your taker this morning. Up, let's just take a look at the chip maker space, because Samsung reported quarterly profit that climbed more than after chip prices stabilized and sales of smartphones also surged, reinforcing the hopes that maybe, just maybe the memory industry will re emerge. So you are seeing some of those chip makers rally in sympathy. MU Micron Technology up seven tenths of a percent, and and video as well, m v d A up

eight tenths of a percent. We shouldn't move on to T Mobile though, falling though, after the company reported preliminary post paid phone churn for the fourth quarter that was worse than analysts had projected. Essentially, the reported earnings that were pretty good their estimates for fourth quarter growth, capping its biggest ever annual gain. But this is the big,

big hitter. Basically, they predicted an industry slowdown into twenty two as carriers move away from the free phone promotions that have fueled such a frenzy of sign ups in the first place. T M U s A is your ticker. They're down one point four percent. I'll wrap it up here, Nathan, with dear expecting a quote slow rollout of autonomous tractors this year, the chief technology officer telling Bloomberg's very own Edlow that the company will roll out between ten and

fifty such tractors this year. D E is your ticker? They're up nine tenths of a percent? Nathan, All right, real quickly, Creedy, let's run through some analyst calls. Yeah, well, let's just go with a big one here, Coals, it looks like it's the big call here. Kss. Is your ticker dropping after UBS downgrades it UH to a cell and slash the price target to a Wall Street low on the challenging outlook for the stock in two on inflationary pressure. Coals taking a beating this morning, down three

the pre market. Alright, Bloomberg Radio TV Markets correspondent Creedy goofta happy weekend when it comes around. Thanks for the update, and as we take a look at stocks as a whole ahead of the Friday morning open and the release to the December payrolls report, futures are picking up. SMP futures up almost ten points, now down futures up thirty NASTACK futures higher by forty nine points. Little change to the tenure the yield on the benchmark tenure note one

point seven two. Stay with us. This is Bloomberg, Bloomberg eleven three oh weather light, snow. We'll end this morning, maybe another inch of accumulation with a higher thirty five low thirty sunshine Tomorrow rain Sunday afternoon with a high near forty currently twenty eight snowy degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business at and at Bloomberg Rictape is a

Bloomberg Business flash. And I'm camerin Moscow and this update is brought to you by Sei Christies emphasized character and partnership, one mission, one community. See I go to se i C dot com slash I m S and futures. They're on the rise this morning, ahead of that December jobs are poured and we go to the first word breaking news dance for today's morning call. Here's Ben Baloney ebil, Good morning and good morning Karen. Modest gains in the

futures right now death futures of twenty two points. SUPs are up ten well than as a futures rise by fifty two. The US ten yeld at one point seven two percent, Gold is little changed, Oil trading higher, and

bitcoin is down by two. Japan was a little changed overnight, while up markets are quiet this morning, and back in the US on the economic front, like you said a thirty December jobs report after Belts night, T mobile customer churn missed estimates and regarding earnings this morning, Acuity Brands q N just STPs beat estimates and other news. Game Stop is jumping sent pre market as a company plans to launch a marketplace for n f T s and

wrapping things up. M customers raised top perform at Credit Sweez Starbucks cut to sector perform at RBC. Coles was got to sell ubs on inflationary pressure in a T and T was raised to equoit over at Wells far Ago. Live from the first REKA News discom Bill Maloney camp alright, Bill, thank you, and to hear live breaking news over her Bloomberg. Have squawk on your terminal SCU A w K and that's a Bloomberg business Flash. Now here's Michael Barr with

more on what's going on around the world. Michael Karen, thank you, very much. The Northeast is going to a visit from Old Man Winter. New Jersey is under a state of emergency because of a winter storm that can dump up to six inches of snow. Connecticut closed state offices. New York City has floyd about sixteen hundred plows throughout the city. Three white men convicted of murder in Georgia in the deadly chase and shooting of Amandabree are due

back in court for sentencing today. Father and son Greg and Travis McMichael, and their neighbor William Bryan are expected to get life in prison. North Korea says it will skip next month's Beijing Olympics because of the COVID nineteen pandemic and hostile forces move. Its statement is largely redundant since it has already been suspended from the games by the I o C. In the NBA, the Nikes beat the Celtics one O eight, one oh five. The Warriors lost.

In the NHL, the Devil's won, the Rangers and Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven under journalists and analysts, more than a hundred twenty countries. I'm Michael Barr, and this is Bloomberg. Karen alright, Michael, thank

you At sixty nine on Wall Street. Less turn to news in science and Technology now with a Bloomberg n j I T STEM report, brought to you by New Jersey Institute of Technology, ranked in the top two percent nationally for alumni mid career earnings and number one in the nation for student upward economic mobility. Learn more at n j I T dot e DU now Here's what's making news and science, technology, engineering and math. One of the first studies to track whether COVID nineteen vaccinations might

affect women's periods found a small and temporary change. Research track nearly four thousand US women through six months real cycles, and on average, the next period after a shot started about a day later than usual, but there was no change in the number of days of menstrual bleeding after COVID nineteen vaccination. Bank of America is pushing back its return to office another week. The company is now encouraging US employees to work remotely through the week starting Monday

while it evaluates its next move. The bank also continued to encourage workers to get fully vaccinated and received booster shots, although it stopped short of a full mandate, and COVID is also impacting the gaming industry. E three, the biggest annual video game expo in the country, canceled its event in June. Calling off the conference five months in advance is unusual. C S, the largest consumer electronics show in the US, pressed ahead with its event this week in

Las Vegas, even as the omicron variant surges. And that's the Bloomberg and j I t Stem report. Nathan, Thank you, Karen. We are live from the Bloomberg Interactive Brokers studios where

at six fifty one on Wall Street. I'm not to check what's going on in d C. Some of the top stories from our Nations Appital include Congress marking a year since the January sixth thread and showing the wounds still run deep, the White House finalizing plans to ship COVID test kits to millions of American homes, and a watchdog reportedly warning that the Department of Health and Human Services is unprepared to take over the nation's vaccine program.

More and all. These stories were joined by Bloomberg Government reporter Emily Wilkins from the nation's capital. Emily, good morning. Of course, we had hours of events yesterday on Capitol Hill looking back at the events of January six, and it really seemed to show the division that still persists in this country. Yeah, I think the biggest image from yesterday was in the House Chamber as Speaker Nancy plusi

u to speech commemorating January six. I was in the gallery at the time, and you could see a handful of Democrats who have come made the trip back to Washington. They're not in session this week, but they made the trip to be here um and and to sort of just stand in recognition. And then you looked over to the Republican side of the chamber and it was almost completely empty. The only two Republican officials who were there

were Liz Cheney and her father, Dick Cheney. And as they exited the chamber, UM, I was a part of a group of reporters who asked Dick Cheney, you know why he decided to come today and what he thought about current Republican leadership, And the response that he gave us was that Republican leaders today he didn't recognize them from the folks that he worked with. When he was in power as vice president, and I think that was sort of a really powerful image summarizing where Congress stands

today a year after January six. UM, most Republicans weren't even on the Hill. A number of them were at Senator Johnny Isaacson's funeral down in Georgia, but there were two other Republicans on the Hill. They weren't in the room, but Marjorie Taylor Um and Mac Gates did a pressor where they reiterated a number of conspiracy theories and and other items that don't really have any evidence behind them

as part of January six. So there's really sort of a wide gulf not only just between the Democrat and Republican parties on what happened and what's needed to go forward, but also within the Republican party on how they think about and talk about January six. And it shows sort of a wide gulf between how Republicans talked about January six and the immediate aftermath and how they talk about

it now. You remember a number of forceful denunciations of former President Trump in the in the days following the attack, but now for many Republicans it's been like a complete one eighty absolutely. I mean, you saw this, this moment um immediately after the attacks, when lawmakers returned to the floor,

where there seemed to be a moment of unity. But then what happened is you had one hundred forty seven Republicans go ahead and vote to oppose the certification of various states lactoral votes, which was the part of the whole reason that writers had stormed the building to begin with, is that they were told, uh, they were lied to repeatedly that the election was stolen, even though we have people from Trump's own cabinet who did research on the

election and said that that it was legitimate. Um, that it actually went off pretty fairly, fairly well, especially for election with a lot of mail and ballots for the first time. Um. And this is sort of a narrative that you wonder how it's going to be playing into two.

We've already seen a number of candidates Republicans who are throwing their hat into the ring to run repeat the lie that Joe Biden is not president, that the election was stolen, And this seems to sort of be a part of the dialogue that you need to say if you want to gain Trump support. If you want to gain the support for Trump's followers. So this is certainly something that's going to continue to be discussed uh into this mid term here and probably as well as all right, well,

let's go forward to some other developments in Washington. The White House, as you know, has been really trying to play catch up on this shortage of COVID tests across the country, and now we're hearing that they're getting closer to a plan. Yes, so they've one thing that they are working on, and this was per the Washington Post, is that they're getting closer on sending out those millions

of testing kits two Americans, getting a website in place. Um, we're hearing White House officials say by mid January that Americans can log onto request one of those at home testing kits and received that in the mail. Um. They're also moving with forward with taking responsibility for the vaccines. Uh. This was something that was being shared partly by the Pentagon, but is now shifted to the U. S. Department of

Health and Human Services. Although now we've gotten now on the terminal story about a Government Accountability Office watchdog flagging that the d U S. Department of Health and her Human Services are not fully prepared to take responsibility or this vaccine program that they just don't have enough staff, that they're not ready to take on all the requirements of it. So I think there's still potentially rocky ground ahead and getting out vaccines to American people and getting

out tests to American people. Um, and sort of what the next phase of this pandemic is going to bring. Yeah, certainly we're going to be continuing to watch that. Finally, some new information this morning from the White House on helping low income people pay their winter heating bills. Got about thirty seconds left here, Yeah, so this one basically, the White House is allocating several million dollars to help

low income folks with their heating bills this winter. Obviously, states with bigger populations, states that are much colder are getting the bulk of the funding. And this just comes as the White House is continuing to acknowledge the need for people to have some assistance as COVID and O Macron continue to sweep across the country. Yeah, and timely news as another winter storm blankets the Northeast as we speak.

Emily Wilkins of Bloomberg Government, hope you have a great weekend when it comes around, and you can read more about all these stories of Bloomberg dot com or on the Bloomberg terminal, and a reminder follow all the latest on Bloomberg Radio in Washington Bloomberg and one oh five point seven FM h D two. As we await the market open and the release of December payrolls, futures are moving up slightly. SMP futures up nine point, staff futures

up fourteen. That's basically a little change. The NASDAC futures higher by fifty points ten. Your treasury is now down one thirty second. The yield one point seven two yield on the two year point eight seven. Nime x screwed up six ten percent at sevent barrel, the euro one point one three oh three against the dollar, and bitcoin at forty two thou two hundred dollars. Bloomberg Surveillance up next for Karen Moscow. I'm Nathan Hagar. This is Bloomberg