Bloomberg Daybreak: July 6, 2022 - Hour 2 (Radio)

a plan to get ghost cars off the streets. I'm Michael barn Or ahead, and I'm Scott Sedinberg. Both the Yankees ended, Mets lose, plus it up thet on Wimbledon.

I'll have that and more coming up in sports. That's all strading ahead on Bloomberg day Break on Bloomberg, he Living freon New York, Bloomberg on Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Syrius x M one nineteen and around the world on Bloomberg Radio dot Com and via the Bloomberg Business Act. Good morning, I'm John Tucker and I'm Karen, Moscow when US duncan next. Futures are little change this morning. We're

coming up to six o one on Wall Street. We checked the markets every fifteen minutes throughout the trading day on Bloomberg, and futures are trimming their declines. The decks in Germany is higher, up one point four percent, can't comparis up one point six percent, and the foot Sea one hundred one and a half percent. Ten. Your treasury down one thirty second yield two point eight zero percent. They yield on the two year two point eight three percent.

Comic School, this little change at one thousand, seven hundred sixty two dollars announced, the Euro one point two to five against the dollar, the n one five point three each too, and bitcoin is at twenty nine dollars, down one and a quarter percent. John, Karen, We're gonna have more in the markets and just a minute, but first we're gonna start with the latest on the future of Boris Johnson, the British Prime minister clinging to power following

the resignations of two senior members of his government. Let's get more from Bloomberg's Lizzie Burden outside Number ten, Downing Street, started with a surprise apology from Boris Johnson about his handling of the Chris Pincher affair, which of course is just the latest chapter of the Pestminster story or these alleged sexual misconduct scandals. But that was quickly followed by

the resignations. But two of his most senior team started dab at, the Health Secretary and the Chancellor Isshi Snat. Both their resignation letters attacked his integrity. And then it was the Attorney General and a string of junior government members. So it does seem that the tide is finally started turn against Boris Johnson. He came back with an emergency

we shuffle, trying to show his fighting back. Bloomberg's Lizzie Burden, reporting outside ten Downing Streets, says Johnson will face questions in the House of Commons today. It will also be pure before a Parliamentary committee. Well, another political news this morning, john Foreign ministers from the Group of Twenty Nations are gathering in Bali, Indonesia, and Russia's invasion of Ukraine will

top the agenda at the meeting. Nathan Hagar has more from our Bloomberg One newsroom in Washington, Secretary of State Anthony B. Lincoln heads to the G twenty summit today. The top US official says he will meet this weekend with his Chinese counterpart Wang Yee for a quote candid exchange about the war and what the U. S Expects not just from China, but from all responsible members of the international community. This will be Blincoln's first face to

face encounter with Wong since October. The State Department says Lincoln is not expected to meet with Russian Foreign Minister Sergei Lavrov. He is also planning to attend the G twenty summit in Washington. I'm Nathan Hagar Bloomberg Daybreak. Thanks Nathan. The Secretary General of OPEK has died. Mohammed Barkindo was in the final weeks of his six year ten years the head of the oil cartel when he died in his native Nigeria, where it kinda oversaw one of the

most turbulent periods in OPEC's history. He was sixty three. Meantime, in the markets, John Oil is recovering some of esterday's eight percent loss. Checking prances right now and I'm ex screwed Oil is up four tenths percent. It's a ninety eighty nine cents of barrel Brent is up one percent and a hundred three dollars eighties cents banks including Goldman Sactually, the recent plunge on recession fears is overdone and the

outlook for energy consumption in China is improving. And in Asia over nine stocks dip as fears of an economic downturn lingered over financial markets and that have the dollar hovering at the highest level in more than two years. Let's get the recap from Bloomberg's Juliet Sally and Singapore.

China chipmakers were one of the few bright spots in the markets Wednesday, after Bloomberg News reported the US is pushing the Netherlands to ban a s mL holding from selling to China technology essential in making a large chunk

of the world's chips. But Asian energy stocks lost all this year's gains as crude oil struggled to regain Tuesday's steet losses bod a new program of virus testing in Shanghai has raised the likelihood of another lookdown and that weight on investor sentiment during Wednesday session in Singapore, Juliette Sally Bloomberg daybreak right Juliette. While here in the US, futures have been erasing their losses following yesterday's late day rally. At one point, the S and P five is down

more than two percent before ending the day higher. Sylvia Oblonsky is chief investment officer at Defian CTFs. You know, I think in the near term we get that range found volatility. But investors that you have been waiting for something might be thinking, you know, we can't call the bottom here, but is it possible that the market has done some of the work for the Fed? And is it possible that putting that first dollar to work makes

sense here? Sylvia Oblonsky at Defian c t F says the markets are already pricing in a recession, and on the economic calendar today we get minutes from the Federal Reserves June meeting. That's when the central bankers raised the interest rate by seventy basis points. Meantime, economists say a broad index of inflation expectations that the Fed watches is expensive to show a big rise when it's published later

this month. Well, in corporate news, this more ning John, it looks like Amazon is on the acquisition trail, and we get the latest lie from Bloomberg's Randy A Young good morning, Ready to good morning, Karen. Amazon will get options for US two percent Steak and grub Hub, and we'll have the chance to increase that holding to fifteen percent. Amazon Steak will be in the form of warrants. They'll vest depending on how well the partnership performs and how

many new customers come as a result. It's a relief for the struggling grub Hub, which in April announced plans to find an investor or bidd shares for parent company. Just Eat jumped as much as six percent to an Amsterdam today. The stock had fallen close to seventy percent this year. Live in New York, I'm gonna need a Young Bloomberg day break, all right, thanks riding to the crypto crash has claimed another victim. Broker Voyager Digital, has

filed for Chapter eleven bankruptcy protection. The New York based firm sites market volatility and the collapse of a hedge fund to which it had lent money and in future is this morning our little change. The dacts in Germany is up one point four percent and the ten year treasury down three thirty seconds. You know two point eight one percent. They yield on the two year two point

eight three per cent. And taking a look at crypto bitcoin down one at one d seventy seven dollars straight ahead, you're like this to local headlines plus a check of sports and this is Bloomberg. Thanksn six or seven of walls. Creet pant time to bring in Michael barn to find out one else is going on in New York hand around the world. Yeah, and thank you very much, sir. The gunman accused of attacking and Independence Day parade in suburban Chicago has been charged now with seven counts of

first degree murder, and more charges are expected. Lake County State's Attorney Eric Reinhardt, the loss of life and these devastating injuries and the overwhelming psychological trauma demand we see justice and then we take broader action to protect life. State Attorney Eric Reinhardt says that the suspect, Robert Cremo, if convicted of a would receive a mandatory life sentence

without the possibility of parole. New Jersey Governor Phil Murphy signed a package of bills touted to increase gun safety less than two weeks after the U. S. Supreme Court weakened the state's ability to restrict carrying concealed firearms, Murphy

signed seven bills and promised more action. There are those who take seriously the words of the satirical website The Onion, and this was the headline, no way to prevent this, says only nation where this regularly happens, And sadly it appears six of these mistaken people sit on the Supreme Court of the United States of America. Governor Murphy says the new laws include mandatory training prior to a gun purchase, tracking of ammunition sales, and micro stamping technology so bullets

can be traced to particular weapons. New York City Mayor Eric Adams says drivers of vehicles caught with illegal fake paper license plates will be towed and could pretend should be auctioned off. Thor Adams says that they're cracking down on ghost cars because we know the drivers of these cars are quote up to no good. And I said over and over again, there are many rivers that feed the sea of violence, with damn in each river and paper place. To some you'll say, well, what does that

have to do with damn in the River. It damns the river of people using their vehicles for illegal behavior. Mayor Adams says the law is coming after anyone who tries to make their car untraceable. Rudy Giuliani, Senator Lindsey Graham, and five others have been called to testify before a special grand jury in Atlanta. According to court filings. It's part of an investigation into alleged attempts by former President Trump and his supporters to change the result of the

election in Georgia. Global News twenty four hours a day on it Or and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than a d twenty countries. Michael Barr and this is Bloomberg. John, all right, Michael, thank you, And it's now six ten Wall Street. That's time to the Bloomberg Sports Update. Here's Scott Sedenburg. Thanks John. Max Scherzer returned from the I

L and was absolutely dominant. Season high eleven strikeouts and six shutout and he's allowing just two hits and that's however, could not muster up any offense. And the news in the bottom of the ninth to the Reds wanted nothing here, were sheerser on his outing m no issues whatsoever today all the way through, and they were tightening up on me. So that's that's good thing. David Peterson gets the start tonight.

The Yankees New Wild felt at the Pirates five to Jamison Tyon's returned to Pittsburgh was spoiled early when he allowed a Dan Vogel back home run in the second and then a two run shot the rookie Jackson Winsky in the fourth. It was the first loss for Tayland since April eleven. The Yankees losing back to back games for just the fifth time this season, will be SEVENO will start tonight. Tennis at Wimill didn't. Novak Djokovic rally from two sets down to defeat Yonic Center and advanced

to the semi finals. Wrapping on the Dall Bass American Tailor Frits in today's quarter final. I'm Scott Seginberg with Bloomberg Sports. John all right, thanks Scott, and ahead of the cash Open on Wall Street. Futures right now pretty much unchanged. DAL futures just four points lower, SMPE many futures down the point. The Nasdack futures they are seven points lower. With all the turmoil happening in the UK on the political front, Pound sterling down about a tenth

of a percent at one nineteen thirty two. And as we look at treasuries right now, there is this inversion in the twos and tens, the two year above the ten year right now to eighty four the tenure yield at two point eight one percent. And as we look at Komas Gold that is at seventeen sixty ounce down three dollars. You're listening to Bloomberg dbread Bloomberg Weather from

Gary Bess. Sunshine today to ninety tonight, increasing cloud slow about seventy Tomorrow's ammock most Lake cloudy, could see some showers in the afternoon, behid tomorrow to eight markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktape. This is a Bloomberg Business Flash and I'm Karen Moscow. This update brought to you by Informatica and the cloud of your data has the power to do the extraordinary.

Managed data across any location in the cloud for accurate and actionable insights. More at Informatica dot com US dot indise futures are a little change this morning. I'm a concern over a global economic slowdown. Who checked the markets every fifteen minutes throughout the trading day on Bloomberg Right now, the jacks in Germany is higher up one point four percent. Ten year Treasury down three thirty seconds, yield two point eight one percent, yield on the two year two point

eight four percent. Ninemex scrude oil is up tenth of upper cent or fourteen cents, and ninety nine sixty four cents of barrel co make school down to ten percent or three dollars ten cents at seventeen sixty eight announce The Euro one point two two zero against the dollar, British pound one point one seven, and the one thirty five point three three bitcoin is lower down one point six percent at twenty thousand, one hundred nine dollars. And

that's a Bloomberg business flashdown. Here's Michael bar with more on what's going on around the world. Michael Karen, thank you very much. At least seven people are now dead after Monday's match shooting at the Chicago area of Fourth of July Parade, with over two dozen others hospitalized. The suspect now faces seven charges of first degree murder. Former Trump attorney Rudy Giuliani, Senator Lindsey Graham, and five others have been called to testify before a special grand jury

in Atlanta. It is part of an investigation into alleged attempts by former President Donald Trump and his supporters to change the results of the election in Georgia. In baseball, the Yankees and Mets lost. The Nationals, Red Sox and Giants also lost. The Orioles and A's one Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven under journalists, and then list to more than twenty countries. I'm Michael Barr and

this is Bloomberg John Michael, thank you. It is six nineteen out of Wall Street. We are live from the Bloomberg Interrantbroker Studios. This is Bloomberg day Break. Boris Johnson appears to be hanging by a thread this morning after the British Prime Minister suffered several high profile resignations in his government, and Bloomberg's Lizzie Burden is outside number ten Downing Street, this morning with the tails Lizzie Yes, john on the cover of the u K new tapers this morning.

You've got them just describing his situation is on the brink and another refers to him as de greased piglet remember that Monika, that he manages to vide these situations, but the historically put his predecessors, putting his predecessors, and there's so much pressure that they resigned. Well, it doesn't look likely that he will do that. Last night his Health Secretary Sager Javid, who was also a former Chancellor,

and the Chancellor Rishie Cunach quit. They said they couldn't handle having to stand up in public and defend his handling of the Chris Pincher affair. This MP, who was alleged to have been involved in sexual misconduct but was then rehired into the government as Deputy Chief Whip. Both of their resignation letters going hard with the venomous language about Johnson's integrity. And yet overnight we've had even more

junior resignation nations, even into the past few minutes. So our reporter Alex Wickham is this morning rob wating that Johnson's on regular for signs of a coordinated clot from his ministers to bring him down, because if six or eight of the cabinet quit, it would leave him struggling even to form a cabinet. The resignations, are they an act of conscience or are these people after his job?

Well basis started. David and Richie Senac have I thought to have leadership ambitions chi David has stood before, and they're going to be even more dangerous. If they're on the back benches, they'll be able to more easily organize other MPs around them. Richie Senac, in his resignation letter, said that he accepted this maybe his last ministerial position, but you know, well perhaps he'll have a position in his own government. Who knows. But it wasn't all about

this Pestminster as it's called scandal for Richie Sunac. It was also about Johnson's handling of the post COVID economic recovery. He has said that he had to take difficult decisions. If something is too good to be true, it probably is. He said his approach was fundamentally different from Johnson on the economy, so clearly he couldn't get on board with

the fiscal boosterism that Johnson. Johnson wanted of him explain to us what the Prime Minister faces now with the there's a que and where there's a question session in Parliament, and explain to us also what the Liaison Committee is. Yes, so first of all, we'll have Prime Minister's Questions weekly session where Johnson's first of all grilled by the Leader of the Opposition, Keir Starmer, and then other MPs in

the chamber. But in previous week's Keir Starmer seems to have missed an open goal, so because too much on policy rather than personality when Boris Johnson's been at his weakest, then Johnson's paces more question students from the Liaison Committee. That's the heads of all the parliamentary select committees. So he'll be getting questions from all different angles and it will be a very tough crowd to please. Bloomberg's Lizzie Burden outside Number ten, Downing Street, covering the latest on

Boris Johnson's government in turmoil. Lizzie, thanks a lot. We're gonna continue to update the story as it develops throughout the day right here on Bloomberg Radio. So now let's turn to the markets, where concern continues to swirl over a possible global economic slow down. Also get Fed minutes today, let's get you set up for the trading day head now joining us Lizzie Saunders, chief investment strategist at Charles Schwab.

What a pleasure. Um, we do this as let's see nimex Crude Lauzanne below one the two years and the ten year treasuries inverted to eighty three to eighty one. So the question to you inflation taking a back seat now to recession fears and markets, Well, I think it's a combination, and regardless of where there is, ultimately will be declared an official recession. I mean, the growth slow down is very obvious, so I'm not sure that semantics

around what we call this matters all that much. And I do think that whether it's specifically the reason for the reversal yesterday, the idea that slower growth is one of the best sort of cures for the inflation problems. So this notion that a recession or a slowdown is kind of a feature, uh, not a bug, of what the FED is trying to accomplish here with bringing demand

down and in turn inflation down. And you're seeing it in a lot of the of the forward looking data, So does the trajectory for the policy makers does that

now change? So that that's that's an interesting question. So you know, embedded and Expectations is still a seventy five basis point hike this month, But I wouldn't be surprised if maybe there was more softening of the language for the outlook into the September meeting, assuming we don't see a pickup and growth um So it does look like SEV is still on the table for July, but maybe some of the aggressive assumptions into September and the remainder of the year start to be tempered by ritual the

slowdown we're in the midst of. I know I can split here is on definitions, but and discover undervalued companies that may have greater growth potential. Try ib k R Global Analyst today, Yet I b k R dot com slash g A. First, we turned back to British Prime Minister Boris Johnson and his political future hanging by us thread. Bloomberg's Lizzie Burden joins us and once again from outside ten Downing Street, Boris Johnson is hanging by a thread. Hit.

It started off with that surprise Stone public apology his handling of the Chris Pincher affair, but it was followed quickly by the resignation of his Health Secretary Saja Javit

and then his Chancellor Rishi Sunach. Then it was followed by the resignation of the Attorney General and a string of junior ministers, suggesting perhaps that the tide has now turned on Boris Johnson and Bloomberg's Lizzie Burden says Johnson will face questions in the House that Commons today and also appear before a Parliamentary committee and bank here At the US futures, coming off of late day rally, the SMP five hundred was down more than two percent at

one point yesterday before ending the day higher. Sylvia Jablonsky is chief investment officer at Definance CTMs and says markets already are pricing in a recession. The market has done a lot of work, and if you think about recessions to come, a lot of that is froth taken off the market before we sort of hit that point. So I do think that we're seeing sort of hope that we're nearing some bottoms here. That doesn't mean that We can't go lower a little bit, but I think we're

more than halfway there. Sylvia Jablonsky Definance CTM says markets have done a lot of the Fed's work and rate hikes could become less aggressive from here. Well. Turning to oil, John, it's recovering some of yesterday's eight percent sell off right now. Crude is higher and I'm next screw it up for a ten percent and ninety nine doo cents a barrel, and Brent up one point one percent at a hundred three dollars ninety four cents and a sad note to

pass along. Mohammed Barkendo, the Secretary General of OPEC, has died in his native country of Nigeria. He was sixty. And now the corporate news where Amazon is on the acquisition trail this morning and Bloomberg's re need a young Joints is live with more We need a good morning, Good morning John. Amazon will get options for a two percent steaking group up and could increase that holding to Amazon.

Steak will be in the form of warrants they'll vest depending on how well the partnership performs and how many new customers come as a result. The deal also gives Amazon Prime members in the US access to grub ub for one year. Shares for parent company just Eat rows as much as sixtent in Amsterdam today, the stocks falling close to seventy percent this year. Live in New York, I'm really need a young Bloomberg day break. I really need to thank you. That's the five things that you

need to notice. Start here day brought to you by Interactive Brokers and Futures. This morning they have been fluctuating. SMP futures are now higher, up about four points. Now futures also higher, up thirty six and as day Future is up ten. The docks in Germany is up one point seven percent. Ten year treasury down four thirty seconds two point two percent. They yield on the two year two point eight four percent. NIMEX screwed oil again up

four ten percent at ninety ninety cents. A barrel and a straight ahead your latest local headlines plus a check of sports. This is Bloomberg. Thanks Karen six thirty three on Wolfsbury. Time to bring in Michael barn and tell us what else is going on to New York hand around the world. Yeah, and thank you very much. They're the man accused of opening fire and an Independence Day parade in suburban Chicago is charged now with seven counts

of murder. Lake County State's Attorney Eric Reinhardt says that Robert Crimo could receive a mandatory life sentence without the possibility of parole. We anticipate dozens of more charges centering around each of the victims, psychological victims, physical victims, attempts, murder charges, aggravated discharge charges, aggravated battery charges. State Attorney Reinhardt says that Creamo allegedly sprayed more than seventy rounds

from a rooftop into a crowd in Highland Park. New Jersey Governor Phil Murphy signed a package of bills touted to increase gun safety. Murphy signed seven bills and promised more action. We believe, or I should say no, We know that we could take on the epidemic of gun violence and win. The new laws include mandatory training prior to gun purchases, and, according to Governor Murphy, tracking emmal snials. New York City officials have announced plans to track down

on so called ghost cars. The New York Mayor Eric Adam says that their vehicles with illegal face paper license plates. When you see people using these paper plates, many times they are doing something illegal. Mayor Adams says the cars would be towed and could potentially be auctioned off. Construction of a New Hudson River rail tunnel connecting New York City and New Jersey took another step forward in the

planning phase. Both New York Governor Kathy Hokel and New Jersey Governor Murphy announced memorandum of understanding with the Port Authority on financing terms for the twelve point three billion dollar Gateway tunnel and the one point six billion dollar Portal Bridge replacement. Seven Trump allies have now been scipoena and the Georgia Criminal Investigation of election interference. Bloomberg's Sad Baxter reports these are grand jury summons and the names

include Rudy Juliani, Lindsey Graham, and John Eastman. The move underscores the breadth of the investigation being conducted by the District Attorney of Fulton County, which is a suburb of Atlanta. She's weighing a range of charges, including racketeering and conspiracy. This is the closest a criminal investigation has gotten to Trump's inner circle. Now, the sapoenas do not automatically mean

that those involved are a target of any investigation. In San Francisco, I'm at Baxter Bloomberg Daybreak Global News twenty four hours a day on air and on Bloomberg Quickday, powered by more than twenty seven hundred journalists analysts more than a hundred twenty countries. Michael bar this is Bloomberg, John, Michael, thank you, And it's now six thirty six on Wall Street. That's time for the Bloomberg Sports Update. Here's Scott Seidenberg.

Good morning, John. For just a fifth time this season, the Yankees have lost consecutive games, falling to the Pirates in Pittsburgh last night five to two, spoiling Jamison Tyne's return to his former team. Toyon allowed five runs on six hits in five and a third innings, picking up his first loss since April eleven. Here was Aaron Judge after the game. And now they made it a couple of times in double plays. Um, you couldn't really get that big hit to kind of get the moment. I'm

going on our side. They kind of get there wrong. You know. They started off with a couple of um home runs gonna kind of put us in a deficit, but you know, like we've done before, We're worried about that and thought we'd come back, but um, they're the hold to stand there always till then. Luis Severino will get the start tonight. Max Scherzer returned from the i

L last night. He struck out of season high eleven in six shutout innings, allowing just two hits, but the Mets would fall to the Reds one nothing in the bottom of the ninth inning. David Peterson gets the start tonight. Tennant said Wimble didn't know vak Djokovic routing from two sets down to defeat Yonick Center and advanced to the semi finals. Rapping on the doubt faces American Taylor Fritz in today's quarterfinal. I'm Scott Zeidenberg with Bloomberg Sports. John Well,

thank you, Scott. It is six thirty seven on Wall Street. Time to take a look at stocks and some of the names that are moving in the pre market for them. We're joined by Bloomberg Radio and TV Markets. Corresponded critic group to a lot of chip stocks. Is this uh China story or you know it's sort of a China story. You know. I have to say my job is incredibly hard today because features are literally flat. There isn't a

ton going on in the markets. UM. It kind of feels like everyone either has it out for me rise to the occasion. I'll try, I'll try. And I think chips is the best place to go here because you did, of course have that Bloomberg story yesterday. The US is pushing the Netherlands savan a s mL. This is a Dutch semi conductor equipment maker from selling some of those chip making tools to China. And now some context here.

A s mL is a company that, like I said, it makes semi conductor making equipment, kind of like Deer for example, makes farming equipment for UM chips and their tractors. By the way they do, they do that's a little fun fun tied. But but the takeaway here is that their technology is very crucial. It's been very it's very

advanced technology. It's been in the eyesights of a lot of other major chip giants, and Video for example, has long talked about actually perhaps targeting or purchasing that technology. Tie one semiconductor manufacturing company t SMC where the majority of the world's chips are made. Anyway, UM has also talked about that technology the US is pushing the Netherlands. Remember this is a Dutch company to ban a s m L from selling some of those tools to China.

So this is a chip story. But once again, here's what it does. It makes those chip makers even more attractive in some ways, because the idea here being that if you can't get your hands on that technology, especially in a part of the world where most of the chips are made, that's going to be a big deal.

So actually you did see some of those stocks higher in the pre market, and then you look at some of these other chip equipment makers that are competing, for example, Applied Materials, which competes with a s m L, A M A T, it's down three point seven percent. You have a similar story when it comes to the life of advanced micro devices. Remember A m D and n

video do actually UM compete very closely. So when you have in video trying to get that technology, m D is going to be slightly under pressure, down about one tenth of one percent. Intels one we should worth checking on as well. I n TC is your taker. It's actually unchanged at the moment, but you did see earlier in the session it drop about one percent. So once again there's a lot of movement in this industry. This is the sector I would keep an eye on today.

Well more than tangential to this is cyber security. What is happening on that front. There's a lot happening on that front. You know. I feel like tech is once again becoming the story. But it's not just your traditional tech. It's not your Apple, your Microsoft, your Tesla, it's your kind of I want to see like adjacent tech that you would think of your semiconductors or cybersecurity, the ones

that trade in line with big tech. Almost so for cybersecurity, the story here is that Morgan Stanley analysts saying they're expecting durable security spending environment in the second half of two. They're quoting an uncertain macro backdrop. I remember this has been a trade that's worked in terms of defense, not in terms of Locky Martin et cetera. Also cybersecurity since the war in Ukraine broke out. Paula Alto Networks is

a good example. P A n W down about two tents of a percent, and I'll give you one more crowd strike c r W d uh it is also down two tons of one percent. Thanks Critty, appreciate it. Um. Bloomberg Radio TV Markets correspondent Critty Gupta and looking at stocks as a whole, as she said, they're flat down, futures up nine smp EMNI, futures unchanged and as a

futures down just too. You're listening to Bloomberg Day Bread and just ahead we will go to the nation's capital, will look at the breath of charges new subpoenas in the Georgia election pro You're listening to Bloomberg block markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow. And futures have been fluctuating this morning. They are lower once again.

We go to the first Word breaking news dance for today's morning call, and here's Bell Malone A bill, good morning, Hey, good morning. Can that's right. Modest losses in the futures right now at death Futures down twenty nine point samees drop five and as that futures declined by seventeen the US ten year that two point two percent, Gold is down four oil is little changed, and bitcoin is down

by one point seven percent. Asian stocks fell overnight on fears of another lockdown in Shanghai, while up markets are firmly in the green, lit by gains in the UK and France back in the US. On the economic front, nine Services and Composite p m ees and at ten o'clock the I s M Services Index in Indian news, Amazon and take up to a fifteen percent stake in

a grub pub. In other news, crypto broker Voyage your Digital filed four, Chapter eleven and Tiger Global's hedge fund Game three point four percent in June, pairing its twenty two drop to fifty percent. Wrapping things up, Stay Were was raised by a Bank for America, Continal Resources cut You set to perform at RBC in vm ware were put to market perform, Will grad Ram and James Live from the first to breaking news bescon fill maloney care all right, Bill, thank you to hear live breaking news

of your Bloomberg type squawk on your terminal. SCU You 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 Darren, thank you very much. Man in charge with seven counts of murder after firing off more than seventy rounds at an Independence Day parade in suburban Chicago legally bought five weapons. Police say that includes the

high powered rifle used in the shooting. Two senior members of UK Prime Minister Boris Johnson's cabinet quit late last night. The Prime Minister and his team embraced for more potential cabinet resignations this morning, after ten Tory MP's quit government positions, including Chancellor Rishi Sunak and Health Secretary said G. Johman. In baseball, the Yankees and Mets lost. The Nationals, Red

Sox and Giants also lost. The Orioles and as One Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than seven hundred journalists and analysts more than twenty countries. Michael Barren, this is Bloomberg. Karen, all right, Michael, thank you. It is sixty nine on Wall Street. We turned to news and science and technology now with the Bloomberg n j I

T STEM Report. It is brought to you by New Jersey Institute of Technology and j I T welcomes its ninth president, tech Limb Visionary Leader committed to growing nj I T S partnerships with industry to bolster student opportunities and outcomes. Learn more at nj I T dot E d U and here's what's making news and science, technology, engineering and math. In China, the COVID zero strategy is being tested again a jump and infections across Shanghai is

raising the prospect of another lockdown. The city reported twenty four inspections today, the most in three weeks. Meanwhile, a highly infectious variant of the virus has begun spreading in China for the first time. The European Parliament is gearing up for a controversial vote on whether gas and new clear energy can be considered green. Opponents say a yes vote would turnish the EU's ambition to set the gold

standard for green finance. The discussion is heated up since the invasion of Ukraine, since the region wants to get rid of fossil fuels from Moscow, and Amazon has struck a deal to take up to a fifteen percent steak in grub Hub. It also will offer its prime users in the U S a one year membership to the food delivery service. Grubhub is owned by the Dutch company Just Eat Takeaway, which announced plans to find an investor

or bidder for the US business in April. And as a Bloomberg and j I t Stem report, John all right, thanks Karen. We are lying for the Bloomberg Interantibroker Studios where it is six fifty wood on Wall Street time now to check what's going on in the nation's capital.

Some of our top stories Giuliani Graham five other subpoena, the in the Georgia probe, blink In plans, candidate exchange with China, the war in Ukraine, China calls US pressure on chipmakers, technological terrorism, and miss Parent's still birth prosecutions await women post Row. Let's take a deeper dive he into some of these stories this morning, with Bloomberg government reporter Emilee Wilkins joining us from the nation's capital. Emily,

good morning to you. Uh. New subpoenas and that Georgia election probe. Give us an idea the breadth of charges and who's involved? Yeah, so this is a probe that is really going into Trump's efforts to overturn the election. In if you'll remember, there was that phone call that really made headlines about Trump UH decently calling up election officials and asking them to find more ballots, to find more votes. And so there's a group that's been looking

into this. UM. They've reached out to Rudy Giuliani, Senator Lindsay Graham, four of Trump's lawyers, as well as a podcaster who supported Trump's efforts to change the outcome of election, and have asked them to testify UM the Grand UH At this point. UH. Rudy Giuliani's attorney says that he has not been served with a subpoena at this point, UM. And it'll be interesting to see what sort of cooperation

Giulianti and Linda Graham wind up giving to this particular investigation. This, of course, is separate from, UH the two other major investigations that are going on. Number One, the January six panel in the House that's been holding these public hearings and is going to be holding more next week, as well as the Department of Justice investigation into what happened on January six. Yeah, essentially bring up the January six investigation.

What's their connection to criminal charge? They can't bring criminal charges, but what they can recommend to the Justice Department. Where does all nets stand? Yes, you're absolutely right, John, The January six Committee cannot bring criminal charges, but they can present evidence and they could potentially make recommendations. And there has actually been some debate among the lawmakers on the January six Committee as well as whether they should be

recommend in specific charges when they should do that. I mean, remember, we're having these public hearings now, but the committee has stressed multiple times that its work is not done, that it's still ongoing, that these public hearings have led to more individuals coming forward. The committee is expected to release a report um in either July August September, coming up

here before the election um. And so at that point we would expect if the Justice Department was going to sort of take something from the committee, it would be what would be compiled in that report and see if they could use it then further their own investigation. All right,

let's move to the next story. The Secretary of State Planning and Exchange with China on the war in Ukraine and as we know, China's sort of come down on the side of Russia in this war, right, Yeah, and Li Lincoln is the China's you know, they walked this interesting line where they've said that they, you know, that

their friendship has no limits with Russia. UM. But at this time they haven't yet really crossed some of the lines that the US has set down as far as saying that, hey, we will be sanctioning other countries that try to help Russia. UM. And so this is just another conversation, I mean, obviously a very important conversation given the high level of diplomats involved. UM. Just trying for the US and China to to touch base and to discuss where China is at in terms of Russia and Ukraine.

This will be happening at the upcoming G twenty meeting in Indonesia. UM And while Secretary of State Anthony Lincoln will be meeting with his Chinese counterpart, he will not be meeting with his Russia counterpart, who's also expected to

be at the meeting. UM divided an administration uh AT State Department spokesman At Price said on Tuesday that the two aren't expected to meet because the U S would only do so if Russia has shown that is interested in a diplomatic solution with the Ukrainian conflicts, and at this point that hasn't happened. And if you need a reminder about the existing tensions between China and the you ask, you can look at this next story, UM, accusing the

US of technological terrorism. What's this about? Yeah, so the US right now is lobbying in other countries to stop selling technology that's needed for making chips to China, and so China, Uh, you know, the US is obviously trying to put some limits on China's ability to produce these chips. UM. Right now, the US in Congress is trying to actually pass more than fifty billion dollars of funding to try

and have the U s start making more chips. UM. And so this is obviously something that UM, you know, it's it's not look favorably on in Beijing. UM that their concerns. UM that officials have spoken about publicly saying that this is just another example of the US practicing coercive diplomacy, abusing state power. UM. Of course, it's yet to be seen at this point exactly what is going to happen, Whether some of these allies like the Netherlands are going to agree to stop selling some of these

technologies to China. UM. But this is something that the US and Bloomberg has reported that the US has maybe asked um and kind of speaks to both attentions with China as well as some of the supply chains concerns that the US currently has and m always a pleasure

appreciated Bloomberg's family Wilkins. You can read more about these stories on Bloomberg dot com with the Bloomberg terminal and a reminder, you can follow all the latest on Bloomberg Radio and watching at Bloomberg at one oh five point

seven FM HD two. Well, you may have noticed that the gas pump getting a little cheaper to fill up these days as we look at the crude oil IMEX crude under one dollars of barrel and ahead of the cashow up on Wall Street DAL futures right now thirty seven points slower, sort of the in and out of gains all morning long and treading a bit of water at one point down a tenth of her percent right now for the Dow futures SMP future six points lower.

Has done about two tenths of a percent, and the tech have a NASDAC emitting futures right now twenty four points lower, that is down two tenths of a percent. In London, with all the turmoil surrounding British Prime Minister Boris Johnson, the foot see one hundred up right now one hundred twenty points arise at one point seven percent. And looking to treasuries this morning, we see this inversion

in the yield curve between twos and tens. The two year yield above the ten year at two point eight three percent, a ten year yield two point eight one percent this morning, and just ahead Bloomberg Surveillance. You've been listening to Bloomberg Daybreak for Karen Moscow. I'm John Tucker, and this is Bloomberg