Bloomberg Daybreak: June 28, 2022 - Hour 2 (Radio)

Jeffrey Epstein sexual abuse case. I'm Michael barn More Ahead, I'm John Stash Sharon sports another comeback win by the Yankees, and Kyrie Irving is opting in with the net. That's All's training ahead on Bloomberg Daybreak on Bloomberg Eliven Free on New York, Bloomberg on Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Sirius XM one nineteen and around the world on Bloomberg Radio dot Com and via The Bloomberg Business and Good Morning.

I'm Perrod Moscow. I'm Nathan Hagar. Bloomberg Daybreak is brought to you by Informattica in the cloud. Your data has the power to do the extraordinary. Managed data across any location in the cloud for accurate and actionable insights. More at informattica dot com and US future is higher this morning six so one On Wall Street. We check the

markets every fifteen minutes throughout the trading day. On bloomberg S and P futures of eighteen points down futures have a hundred sixty four and as day futures of forty seven and the ten year treasury down eight thirty seconds. You have three point to three percent Nathan Well Karen. The lifting stocks comes after a major shift to China's COVID nineteen policy. China's cutting the quarantine period to ten

days from up to three weeks for inbound visitors. We get more from Bloomberg's John Lou in Beijing, but the significance is the amount of cross border travel. The amount of business people coming in and out have been great really reduced since the pandemic largely because of that twenty one days of quarantine people would potentially have to do when they come in. This is a substantial reduction, at half of what it used to be Not only is it for travelers, it's also for people who come into

close contact with a with an infective person. Bloomberg's John lu says Asia's equities erased losses to climb for a fourth session, and tourism related stocks led the games well. Nathan. US futures are also getting a boost on China easing COVID restrictions. Yesterday, stock started the week on a losing note, but Aaron Kennon, chief executive officer at Clear Harbor as said management says there are some optimistic signs for investors. We are seeing some light at the end of the tunnel.

And I know it may not be in vogue to suggest this, but um inflation metrics such as you know, for example, copper down, nickel off. I was looking at shipping rates. They're down dramatically over the last couple of months, aluminums off iron or we you know, even even oils off double digits right now. Clear Harbor Asset Management CEO

er and Kennon still recommends investors be cautious. Yeah, so does Goldman Sachs Care and that firm strategists say US profit margin estimates are too optimistic and that will put stocks at risk of more declines when Wall Street analysts downgrade expectations. Goldman expects aggregate margins for SMP companies to remain flat in three even if the economy does not contract. They say the risk is lower for the ten biggest companies on the index, which account for nineteen of its earnings.

Well Nathan Bank stocks are higher in early trading. They boosted dividends following success in passing bank stress tests. Beget more from Bloomberg's Turley Pillett. Bank of America announced a dividend increase, while Morgan Stanley boosted it's payout while saying it will repurchase as much as twenty billion of stock. Morgan Stanley boosted its quarterly dividend to seventy seven point five cents a share from seventy cents. Bank of America's

payout limes to two cents from twenty one cents. State Street Corps and Truest Financial also announced dividend increases in New York. Charlie pea Bloomberg Daybreak. All right, Charlie, thank

you for watching shares of Nike this morning. They're down two and a half percent in early training Bloomberg's Doug Prisner reports the company offered a downbeat full year forecast the sports where company said gross marchin will be flat to down fifty basis points and revenue is expected to grow this fiscal year by one percent in the low double digits. Nike is also being cautious on China. In the last quarter, sales in the Greater China region fell

at constant currencies. Nike still views China as a long term growth market and the company will continue to invest in the region even with that China weakness. Overall revenue for the last quarter beat estimates, and Nike's board authorized a new eighteen billion dollar stock buyback program. In New York, I'm Doug Krisner, Bloomberg Daybreak. All right, Doug, thank you.

We now turn overseas for the European Central Banks Annual Forum and Centrums underway and her keynotes speech earlier this morning, ECB President Christine the Guards said raids are going higher to combat inflation. In July, we intend to raise our policy rates for the first time in eleven years, and we have provided some guidance for our September policy meeting

and the rate path that we envisage. Thereafter, ECB President Christine and the Guard's signal the July rate high will be a quarter of a point of This morning, Karen, President Biden's headed to Madrid for the start of the three day NATO summit. The White House says he spoke with Turkeys president on the way. Biden's leaving a G seven meeting in Germany, where leaders accused Russia of war crimes for attacking a Ukrainian shopping mall. Ukraine's President vladimir's

Lensky also condemned the attack. Only terrorists who have no place on Earth could strike on such a location. This is not a mistaken missile strike. It is a calculated Russian strike on the shopping center. President's Lensky address the summit through an interpreter. The G seven wrapped up with an urgent call for ministers to explore a price cap on Russian oil and gas. Well back here at home, Nathan, the January six Committee has quickly added an additional hearing.

It's scheduled for today. A Bloomberg said, Baxter has the story a bit of a surprise. The committee's signal last week though that it had obtained new information and it obviously thinks it is important enough to change the schedule like this. Sources say it will center on information from documentary filmmaker Alex Holder about footage he has of Donald Trump after the election and leading up to the assault

on the capitol by his supporters. It also has interviews with family members including Ivanka Trump, Jared Kushner, and Eric Trump. Holder also says it has never before seen footage of the insurrection attempt at the capitol in San Francisco. I'm at Baxter Bloomberg daybreak, al right, and thank you. SMP futures right now up eighteen points. Now futures are hired by a hundred sixty three points, NASTAC futures on the rise by forty seven points. The tenure treasury is down

eight thirty seconds. The three point to three percent yeld on the two year three point one two Nimex cruds up one and a half percent, up a dollar sixty six and a hundred eleven dollars cents in barrel, and right now the euro is at one point zero five eight eight against the dollars. Straight ahead your latest local headlines in the check of sports. This is Bloomberg six oh seven on Wall Street sixty six degrees in Central Park. Heads up, if you take the Sawmill there's a downtree

northbound Green Lane in Bedford. Details coming up in Traffic First Michael Barr with more on what's going on in New York and around the world. Michael, thank you very much, Nathan. Seven states, including New York, are set to host primary elections today, the first election since last week's Supreme Court ruling eliminating the constitutional right to an abortion. For the Democrats, New York Governor Caffey Hoco faces Tom Swase and Jamanni

Williams for the gubernatorial nomination. Rob Astino Andrew Giuliani, Harry Wilson, and Lee Zelden, who has been endorsed by former Vice pres and A Mike Pence running for the GOP nomination for governor. A judge has blocked New York City from letting non citizens vote for mayor and other municipal offices. Republicans challenged the measure as unconstitutional, and the Staten Island

judge agreed with the GOP and the ruling. The laws supporters said it gave an electoral voice to many people who have made a home in the city and pay taxes, but faced tough paths to citizenship. It is the latest tragedy to claim the lives of migrants smuggled across the border from Mexico to the US forties. Six people are dead after being abandoned an attractor trailer on a remote back road in San Antonio. Sixteen people were hospitalized, including

four children. San Antonio Police Chief Bill mcmanas, who heard a cry for help, came out to investigate, found a trailer with the doors partially opened, open them up to take a look and found the number of um the ceased individuals inside. Chief McManus says three people have been arrested. At least three people are dead after an Amtrak train hit a dump truck in rural Missouri and derailed. This

man was a passenger on board. Seats were coming apart, bags were going everywhere, um and then after it stopped, you can smell the fumes until people started panicking thinking it was gonna catch fire. So we try to get out as quick as possible. Federal investigators will be on the scene today. Delane Maxwell will be sentenced today in New York for helping the wealthy financeer Jeffrey Epstein sexually

abused underage girls. Maxwell's lawyers have asked the judge to sentence there to no more than five years, while prosecutors say she deserves at least thirty years. Behind bars. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty hundred journalists and analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan. All right, Michael, thank you, almost six cent on All Street time for the blue

Berg Sports Update. Here's John Stashow Banks Nathan. A near upset of the Bronx Yankees at the best record baseball Oakland A has had the worst, and yet they's got the Jordan Montgomery the third and he scored five times, led five to one, showing up. The Yanks came back a bizarre seventh any when they were helped by two catcher's interference calls against the ah Seawan Murphy, Josh Donaldson Jose Ravinia, both at two undoubles. Yanks scored the last

eight runs. They won nine to five, not quite the emotion of Sunday's comeback. Whenever Euston with Aaron Boom. Still please the good one coming off, you know, obviously at high energy, intense series, you know, come out here and get a little rain. Early. Um I thought her energy was good and uh and obviously a great fit of Nanks. Now thirty two and nine at home. The Astros are still in New York after that split in the Bronx.

They visit the Mets tonight. The feeling was things were not good between Kybrie, Irving and the Nets, and so Irving was gonna pass up the thirty seven million become a free agent. Now perhaps there wasn't as much interest as he expected. Irving is opting in he could still be traded, and that's gm. Shawn Marks hinted wasn't thrilled with some of Irvine's ways, and he likes players who are available, which Tyree often is not. Opening. They had

wibbled of that. Venny jf Novak djokovid one in four sets. Carlos Alcarez, the nineteen year old Spaniards seated fifth, needed five sets, so that John isn't there. American Danielle Collins seated seventh. She made us the Australian Open final. She lost her first round match. Marlon Brisco has died. He was seventy six and nineteen sixty eight. He was the starting quarterback for the Denver Broncos, the first African American

starting QB in pro football history. John Stashun, We're Bloomberg Sports all right, John, Thanks SMP features down up seventeen points down, features up a hundred fifty three. NAT that features are higher by forty three points. The tenure treasury is down nine thirty seconds. The yield three point two three percent up. Next, the latest from the G seven as President Biden now heads to the NATOS. Some at

Bloomberg's Rosalind Mathieson joins us. Next, This is Bloomberg Bloomberg eleven three O weather sunshine and a high and near eighty today, mid eighties with Sunday sky Tomorrow sunny and hot by Thursday with a high expected near ninety. Right now sixty six and cloudy in Central Park markets. Headlines and breaking new ones twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktap.

This is a Bloomberg Business lash and I'm Karen Moscow stocks are arising after China softened its strict COVID protocols us an investor concern about global growth, and we check the markets every fifteen minutes throughout the trading day. On Bloomberg, futures are higher, with SMP futures up seventeen points down futures have a hundred fifty five and NAST day futures at forty three. The decks in Germany's up six tenths of upper cent and your treasury down ten thirty seconds.

You three point to three percent, the yield on the two year three point one three percent, Nimex screwed oils at one point six percent of a dollar seventy seven at a hundred eleven dollars thirty three cents, and barrel comes gold is little change in eighteen twenty six and ounce the euro one point oh five eight nine against the dollar, British ground one point to two six five and the yen at one thirty five point nine five. And look at it bitcoin, it's up half percent at

twenty one thousand dollars. Today we're watching for reports on wholesale inventories at an eight thirty Wall Street time and nine we get two reports on home prices and at tend consumer confidence. That's a Bloomberg business flash. Now here's Michael Barr with more unless going on around the world. Chael, thank you very much. Jar In the January six dollars panel investigating the US capital ryot is holding a surprise

during today with a non identified witness. The last minute proceedings are being cloaked in secrecy, raising expectations for new bombshells in the sweeping investigation. Rescuers are searching through charred rubble of a shopping mall for more victims of a Russian missile strike that has killed at least eighteen and wounded scores of others in a Ukrainian city. The U n Security Council scheduled an emergency meeting today to discuss

the attack. In baseball, the Yankees one along with the Nationals and Orioles, the Red Sox lost Global news twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than journalists and analysts, are more than a hundred twenty countries. How Michael Bar, this is Bloomberg, Nathan, Michael. Thanks, It's six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg day Break. We want

to get more now on the summits overseas. President Biden is moving on from the G seven in the Bavarian Alps to a three day NATO summit in Madrid, as both G seven and NATO leaders are focused on the short and long term challenges of Russian aggression and arising China. Joining us now from Bavaria. Bloomberg News Executive editor for International Government Rosalind Matheson. Ros It's great to speak with

you this morning. Thanks for being with us, Gus. One of the biggest developments to come out of the G seven is this talk about talking about Russian oil and gas price caps. I guess that gets to the challenge, particularly in Europe, on how to punish Russia for the

invasion without hurting the European economy. Well, that's right. So we're just getting the details now of the final communicate of the leaders as they wrap up their meeting here, and as expected, they're they're committing more broadly to the idea of a cap on Russian oil prices. As you say, the imperative there is to limit the amount of money that's going into Vladimir Putin's war coffers because of course, with energy prices so high, he's benefiting enormously and that's

really helping him fund his war machine. So being unable to fully stop him selling oil to other countries, at the least they can do is try and make sure he can't get a good price for it. The equation is how do you actually and that's a price caps. So what they're they're doing now is simply saying they think that there's some possibility here and they need to go away and try and figure out exactly how to do it. So many steps still to be overcome before

they actual price cap would be put in place. What's the challenge rise for the G seven and NATO to confront Russia while putting more of a focus now on China and the economic challenge that the world's second biggest economy poses. Well, that's right, it's a juggling out to these nations. Of course, the US President Joe Biden when he came in, made clear that his number one foreign policy priority was China and tackling China's expanding economic and

strategic reach. And then of course came the war in Ukraine. Russia's invasion, which kind of abended that and has caused him to be distracted from his primary task. That the question is, how can you continue to deal with Russia while not taking arrive the ball on China and in some way the too our interlinked. Of course, China has

refused to condemn Russia for its actions in Ukraine. It's still buying Russian oil, its companies are still trading with Russian companies, and President c GM Ping is perhaps not leaning on the Russian president as hard as he could to curtail his actions in Ukraine, but certainly is very difficult the countries like the US to deal with these crises.

At the same time, meanwhile, China is simply building its influence um as every day goes by, but certainly at least a statement here of intent to try and refocus attention on China. And even before this NATO summit gets underway in Madrid, Spain, we've heard a lot of developments from the Military Alliance, including word of this new strategic posture document that's going to mention China for the first time and Secretary General John Stoltenberg saying they're really going

to increase the rapid response force to confront Russia. What further developments are we expecting ras from the NATAI ga ing, Well, there are those two things that you've mentioned, but the biggest issue on the table arguably for NATO as leaders meet, there is a way to try and convince Turkey to allow Sweden and Finland to join NATO. Of course, Turkey is obstructing that membership application, citing what he says is their support for what he calls Kurdish terrorists. And and

and urdu Wan will be at that meeting. There's a possibility he'll even sit down with the US president. That would be an effort by the US to try and mediate through that and find a way for Turkey to agree to unblock that membership right now, though of course they're pretty dog in. The question is there's the US have to provide Turkey with something in order to get them over the lines. That have to sort of talk about possibly giving them greater military weapons, perhaps even replacement

at sixteen fighter jets. Is that a way to convince Urdue to show me he has gotten something for what really is brinkmanship on the NATO front. But certainly that's a key issue on the table. The yeah, and certainly underscoring perhaps the importance of the Sweden Finland NATO candidacy. We got word from the White House just this morning the President Biden spoke with Turkish President ur Nowuan even as he makes his way over to that summit in Madrid, Spain.

Rosalind Matheson, Executive editor for International Government for Bloomberg News, thanks for being with us this morning, getting all the way us on both these summits now under way, the G seven wrapping up in the Bavarian Alps, as the NATO leaders get set to meet for three days in Madrid, Spain. Looking ahead to the market open on Wall Street, futures are moving higher. We have SMP futures up nineteen points right now, DAL futures up a hundred seventy three and

NASTAC futures higher by fifty two points. Looking at bonds, the tenure is down nine thirty seconds, the yield three point to three percent, and the yield on the two year just about three point one three percent. For the two year Treasury note, you're listening to Bloomberg Daybreak, and Bloomberg day Break is brought to you by Hofstra University's Frank gz RB School of Business, top ranked online NBA program with a real world foundation. Learn more at Hofstra

dot e d U slash go grad. Broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg he Loving Freedom to Washington, d C, Bloomberg On to Boston, Bloomberg one O six one to San Francisco, Bloomberg sixteen, to the Country Sirius XM tod A one nineteen and around the globe the Bloomberg Business at and Bloomberg Radio dot com. This is Bloomberg Daybreak hits six thirty on Wall Street. Good morning, I'm Nathan Hayger and I'm Karen Moscow.

We're just about three hours away from the open of US training. Time for the five things you need to know to start your Dave Rotch you buy Interactive Brokers. Interactive Brokers Global Analysts helps you find new global investment opportunities to diversify your portfolio and discover undervalued companies that may have greater growth potential. Try ibk our Global Analysts today at ibker dot com, slash g a A first.

Stocks are rising after China made a major shift in its COVID nineteen policy, it cut its quarantine period to ten days from three weeks for inbound visitors. Bloomberry Senior executive editor John Leui and Beijing outlines the reasons for the move. The caseload has come down substantially. The other thing is the economy has obviously been pummeled last week, who had presidents coming out and saying that the government is going to do what it can to hit this

year's growth target. If the government is value and if it's willing to take steps like this, it's possible we might get closer to five and a half percent than previously thought. Bloombery John Luis has stocks in AJR race losses to climb for a fourth session. Karen Futures are getting a boost as well after stocks started the week

in the US on a losing note. River Front Investment Group chief investment strategist Chris Constantino says, with the outlook remaining unclear, investors should put their money in safe assets. We think that clipping coupons in the form of you know, dividend yields from safe, high quality, high cash low type equities as well as certain parts of the fixed income world. Those types of instruments are really going to be an investor's best friend, we think for the next few years.

Chris Constantinos, Riverfront Investment Group says the macro environment in the U S and globally remains uncertain well overseas, Nathan. The European Central Banks Annual Forum in Central is underway. ECB President Christine and the Guard addressed interest rates and inflation in a keynote speech. In response to the changing inflation outlook. We have consistently followed the path of policy normalization since December last year, sequentially adjusting our policy stunts.

ECB President Christine le guards and inflation in Europe is expected to remain undesirably high in the foreseeable future. President Biden's on his way to Madrid Careen for a three day NATO some with a group of seven gathering coming to a close. The White House says the President spoke with Turkeys President on the way. Well back here at home, Nathan, The January six Committee added an additional hearing scheduled for today.

Sources ATOS center around information and footage from documentary filmmaker Alex Holder. That's the five things that you need to know to start your day brought to you by Interactive Brokers and futures this morning are gaining s and P futures up twenty one points in OW futures up a hundred eighty Nasdack futures up fifty six. The decks in Germany up about eight tenths of upper cents. Straight ahead your latest local headlines, plus a check of sports. This

is Bloomberg. Hi, Karen. Thanks at six thirty three on Wall Street where sixty six degrees in Central Park and delayser building on the upper level of the George Washington Bridge after an earlier accident. Details coming up in traffic. Michael bars here first with what else is going on in New York and around the world. Good morning, Michael,

Good morning Nathan. Today marks the first election since the Supreme Court revoked woman's constitutional rights when abortion it is it's issue in multiple races and primaries and seven states, including New York Governor Kathy Hoco faces Tom Swazi and Jamanni Williams for the Democratic gubernatorial nomination. Rob Astino Andrew Giuliani, Harry Wilson, and lee Z Elden are running for the

GOP nomination for governor. A Staten Island judges blocked New York City from letting non citizens vote for mayor and other municipal offices. The judge agreed with Republicans who challenged the measure as unconstitutional. A federal court in Louisiana temporarily blocked the state from enforcing its abortion ban. Louisiana is one of thirteen states with triggering laws that took effect when the Supreme Court overturned the federal right to an abortion.

Abortion clinics there immediately sued to stop Louisiana's band, saying it lacks safeguards to prevent the state from arbitrarily enforcing it. Police say forty six people were found dead in a semi trailer parked in San Antonio, Texas, likely victims of each strokes and now the sixteen were taken to area hospitals. Temperatures climbed to a hundred three degrees in San Antonio. Mayor ron Nyronberg suggests that the people who died were immigrants.

We are dealing with a horrific human tragedy, so I would urge you all to think compassionately and pray for the deceased, the ailing the families. Mayor ron Nyrenberg. Three people have been taken into custody. Three people are dead after an Amtrak train hit a dump truck in rural Missouri between Kansas City and St. Louis. The train then derailed.

This man was a passenger on board. The thing that's going to step with me the most is the smell of just the train, the grinding of the nettle and everything. INDSB investigators will be on the accident scene today. Delaine Maxwell will be sentenced today in New York for helping the wealthy financier Jeffrey Epstein sexually abused underage girls. The prosecution will likely paint a picture of how Epstein and Maxwell flaunted their riches and associations with prominent people to

groom vulnerable girls and then exploit them. Maxwell denies abusing anyone. Global News twenty four hours a day on air and on Bloomberg quick Take, powered by more than twenty seven hundred journalists and analyst in more than a hundred twenty countries, and Michael Barren. This is Bloomberg, Nathan, Michael, thank you Almost six thirty six On Wall Street. John stash Ower

has the Bloomberg Sports Update. Thanks from the Yankees. Fifty fourth win of the year, the thirty second at home, and it was their twenty third come from behind victory. In fact, in each of the yanks last four wins, they failed by at least three runs. They were down by four as the lowly Oakland A scored five times in the third any, but the Yanks put up six in the seventh. The first run was scored with a walk, a catcher's in afference call a hit by pitch, and

then another catcher's in afference joh Donaldson. Jose Travino then had two undoubles. Yanks b the a S nine to five. The Mets are back home tonight to play the Astros. NBA free agency comes next to mat Kyrie every will not be a free agent. He's opping in with the Nets. He'll make thirty seven million to be a free agent next year, and we'll see if the Nets still try to trade him. They like irving the flare, but maybe not just thrilled with some of the baggage that comes

with him. John Wall, at one time All Star guard, hasn't played much lately to the injury. He said to be headed to the l A Clippers. Deshaun Watson as a hearing today before the former judge who will decide if he's to be suspended by the NFL for sexual misconduct with numerous women. A year ago at Wimbledon, Serena Williams heard her hamstring in the opening round. Wasn't known if she would play again, but then now forty year old seven time Wimbledon champ will be on center for today.

I didn't retire. I just needed to hell physically mentally. Um and yeah, I just I had no plans, to be honest, I just didn't know when I would come back. I don't know how I would come back, and um it just you know, obviously Wimbledon is such a great place to be still chasing the Ransom title with the Tye the all time record. John stash were Bloomberg Sport. Not good to see your back, all right, John, thank you.

At six thirty seven on Wall Street, time to take a look at stock some of the names moving in the pre market. Bloomberg Radio and TV Markets correspondent Creedy Gupta is back with us this morning. Creety, what's on your eye this morning? Well, let's start with the earning story. Nathan Nike coming out UM for with some kind of interesting mixed results. Here'm gonna break it down, n K

easier taking. The shares are down about three percent in the pre market, and it's kind of interesting because they beat their earnings overall. If you actually even look at this on a constant currency basis, which essentially gets rid

of all the currency fluctuations. We know that the dollar has been extremely strong, so any kind of overseas sales or profits you have to bring it back to the States and convert it into dollars, which means you're essentially making less profit when you kind of make that conversion. But when you calculated on a constant currency basis, global

sales actually rose three percent. Remember this is in an era where a lot of people are saying consumers around the world are going to start pulling back, pinching pennies, trying to get kind of ahead of a lot of that recession to nevertheless Nike coming out on top. But here's what the shares are reacting to here. It's that downbeat full year forecast, and they're saying a lot of it is coming from the issues in the Chinese market. They say it's a very long term game for them

in the China market. But recently in this quarter especially their sales dropped twenty percent, Nathan, and has everything to do with those COVID lockdowns. They're just not able to get their UH products out, but they're also not able to really get those sales in that market that was supposed to be so lucrative. And that's the theme that

you're seeing really around the world. Yeah, and the theme we're seeing this morning with a positive sentiment more broadly with China least lifting some restrictions and I see robin Hoods on your list. Some merger talk there potentially, Um, I'm gonna set he's very technical term here, Nathan, wishy washy. That is kind of getting really deep this morning. It's six thirty. Yes, we're looking at robin Hood shares h o O D is your ticker. It's down about well,

let's just call it four percent here this morning. It's interesting because it came from news yesterday afternoon that Sam Bank but phrase FTX Crypto Exchange would is exploring whether it might be able to acquire robin Hood. According to people with knowledge of the matter. That being said dal Jones now reporting that the CEO says that they're not in active talks with Robin Hood. That doesn't necessarily mean that they're not still exploring a path, but they're not

an active talk. So what the share prices have done yes or down about four percent in the pre market, but they were up four percent yesterday afternoon. So if you actually look at a net net the shares are actually positive when you look at it the last twenty four hours, which is kind of a weird way to look at it. But keep an eye on these shares

as we get more commentary on it. And I'll leave you with one last one, Spirit Airlines talking about M and A. Here s a b E up four percent, Jet Blue boosting it's all cash bit in response to an increased offer Bright Frontier. Remember this is days before that crucial shareholder both on Tunet. Yeah, even following that saga for days and looks like we'll continue to do so. Boomberg Radio on TV Markets correspondent Creed Gupta with us on a morning where shares as a whole are moving higher.

On that from China that COVID quarantines for inbound traveler is gonna be cut in half. SMP futures are up twenty one points foul futures up eighty six. NASAC futures are higher by fifty nine points, and the tenure treasury is down eight thirty seconds, the yield three point to three percent. This is Bloomberg Bloomberg eleven three oh weather sunshine with a higher eighty today, mid eighties and sunny tomorrow, sunny and hot for Thursday, the higher ninety right now,

cloudy and sixty seven degrees in Central Park markets. Headlines and breaking news twenty four hours a day at Bloomberg dot Com, a Bloomberg business atand at Bloomberg Quick Tape, He's a Bloomberg business lash and I'm Karen Moscow and futures are on the rise. This morning we get to the first word breaking news desk for today's morning call. Here's Bill Malot, name Bell, Good morning, and good morning, Karen.

That's right you as features are on the green. Right now, dowt futures up a hundred and eighty three points as to these game twenty two Well, NASDA futures rise by fifties seven. The US ten year at three point to three percent, Gold is little changed, Oil is climbing, and Bitcoin is higher by half a percent. Shanghai rose point nine percent overnight. Note that China cut its quarantine travel time, while RPM markets are in the green, led by one percent gains in Spain and the UK back in the US.

On the economic frontday thirty whostale inventories and at ten o'clock consumer confidence and Richmond fed After the BELUS night, nak Nike gave a downbeat guide and shares a down town a half percent in the pre market, and Bank of America, Morgan Stanley, Wills Fargo, and Goldman Sachs all raised their dividends. In deal news, the f t X CEO said there are no active talks about a robin Hood takeover, and another news, Goldman Sachs said US profit

margin estimates are too optimistic, rapping things up. Boston Beer was cut to sell Goldman Sachs, Snowflake raised to buy Jeffreys, and Verizon was raised to sector outperform over at Scotia Bank Live from the first to Breaking news deskon Bill Maloney camp All right, Bill, thank you, and here live breaking news over here. Bloomberg type squawk on your terminal. That's squ a w K. That's a Bloomberg business flash now here's Michael Barrow with more on what's going on

around the world. Michael, thank you very much. Karon. Mystery surrounds a surprise January sixth hearing that will take place this afternoon. The committee says the hearing will present recently obtained evidence, raising the expectations of new bombshells. Rescuers are searching through charter rubble of the shopping mall for more victims of a Russian missile strike that has killed at least eighteen and wounded scores of others in the Ukrainian city.

Many of the more than one thousand people inside managed to escape. The UN Security Councils scheduled an emergency meeting today to discuss the attack. In baseball, the Yankees one along with the Nationals and Orioles the Red Sox lost Global news twenty four hours a day on air and on Bloomberg Quick Take, powered by more than seven journalists and analysts in more than countries. I'm MICHAELA. Bar This is Bloomberg hearent alright, Michael, thank you. It is sixty

nine on Wall Street. Return to news now in science and Technology with the Bloomberg and j I T. Stem Report brought to you by New Jersey Institute of Technology and j i T is dedicated to bolstering support for female and minority students pursuing careers in high paying STEM industries. Learn more at n j i T dot ETU. You know, here's what's making news in science, technology, engineering and math now.

SO wants to experiment with a new orbit around the Moon that it hopes to use in the coming years to once again land astronauts on the lunar surface. So it's sending up a test satellite from New Zealand, with the launch scheduled for later today. If successful, the Capstone Cube SAT satellite, only about the size of a microwave oven, will be the first to take the new path around the Moon and we'll send back vital information for at

least six months. Google's cloud computing division is preparing to reveal the carbon footprint for its workspace apps as it builds out its suite of tools to help customers assess their impact in the environment. The move by Apple owned Google Cloud Expands or Alphabet owned Google Cloud I should have said, expands measures on veiled last year to help clients measure and reduce the gross carbon emissions of using

Google cloud services. Google aims to be completely decarbonaged by twenty and Netflix is looking to Asia, seeking to both maintain growth in the one region where it's still adding subscribers and replicated success there in other parts of the world. The company says, despite plans to curb overall spending, investment in Asia will keep growing, including financing for the production of local films and series. And that's a Bloomberg and

j I t Stem report taken. All right, Karen, Thanks, We're live from the Bloomberg Interactive Brokers studios where we're coming up to six fifty one on Wall Street, and it's now time to check what's going on in d C. Some of the top stories from our nation's capital include President Biden heading to a three day NATO summit following gatherings from the G seven in the Bavarian Alps, the White House dodging calls to use fed old property for

abortions after the post road decision, and the January six Committee holding a surprise hearing today on new evidence. Let's bring in Bloomberg Government reporter Emily Wilkins for more on all these stories. As we continue to follow President Biden's progress through the summits oversees emily what should we be watching for today from the NATO summit? So a couple of different things. UM. One of the big ones is exactly what the NATO Summit is going to be doing

in terms of China. Right now, they're working on some draft language, but it seems like they're going to be labeling China a strategic challenge in a policy document going forward, UH, noting that they're going to highlight some concerns about China in areas like cybersecurity, disinformation. You know, this is something that definitely certain members of NATO have wanted to happen. Others are a little more lenient just because of their

tight economic relationships that they have with China. But it's gotten to the point, UM where a lot of countries felt like they needed to do something, uh to address just international concerns that China has raised over time. UM. And so we're going to be seen that uh, that

particular strong language coming out today. Obviously today is the start of this three days summit, and we're also expecting them, in addition to China, of course, to focus on Russia and Ukraine and as well as what needs to happen in that particular situation. Uh, if they're going to be able to continue to support them, how long they will be able to continue to support Ukraine in its battle

and what that support will look like. And just the last hour, Emily, we got word from the White House that President Biden spoke with Turkish President Wretch of type Urtawan as he makes his way to the NATO summit. Of course, Turkey has been pretty strongly opposed to Sweden and Finland joining the Alliance. Could we see more developments there? Definitely. I think that will be something that's going to wind

up being discussed today as far as next steps. UM, it's certainly there are many already country of NATO who are open uh to having them be a part of the summit. Uh. We know from the White House that day after they're the phone call that the leaders discussed Russia as well as Ukraine, UM as well as terrorism, and the White House says that they will take historic

actions together when they get to NATO. UM. I definitely think it's a it's a good point to raise that you do have the two countries who are seeking NATO membership that will be a part of this overall discussion, um, and I think it will be one thing to watch for of many today as this conference gets underway. And let's turn to domestic politics, where, of course, the abortion issue continues to be front and center following the Supreme

Court's decision last week. The White House is talking a little bit about this idea from some Democrats that federal lands be used for the procedure in states where abortion rights are being restricted. Now, yeah, this is something that we've heard from a number of lawmakers call for the US to happen. It's a way just to get abortion clinics closer to folks in red states that have banned

the practice. However, Vice President Kamala Harris at the White House is not considering opened up abortion clinics on federal lands, and White House officials told Bloomberg that it risks putting women and providers in legal jeopardy in state courts if they were to do that. But Nathan, there's a question about what the White House needs to be doing here.

The White House knew this decision was coming, they saw the draft leaked back in May, and there are some concerns among progressives and even some moderates within the Democratic Party that simply Biden is not doing enough here that he needs to use the power of the presidency. Certainly, you've seen Biden do a couple of things, um notably look into the availability of making sure um that fills that could cause abortion are available to women even in

states where abortions are currently banned. But it seems like calls at this point to expand the Supreme Court really are going to be gained much momentum with an institutionalist like Biden in the White House and also folks like Nancy Pelosi and Chuck Schumer in the Senate who just really have not had the appetite to try to move legislation expanding the court up to this point. What do we know about this January sixth hearing that we just

found out yesterday is going to happen today. So we've seen reporting from a couple of outlets, punch Bowl of Politico, c Ann that the surprise guest today is going to be Casey Hutchinson. She was a staffer to Mark Meadows, who has been chief of staff uh for Donald Trump, and she said that she has been nearly every meeting that Trump has been in and so she's been the source at this point for a lot of information that

has come out throughout the January six hearing. Uh. And even before that, I mean, she was one of those sources that documents were being the story of via being flushed in the toilet. Um that members of Congress UM had asked for Trump to pardon them to have their names added to the part of the blist. The committee wasn't just supposed to have any hearing this week. They bumped them all back until July, and now they said that this is needed to happen. Uh. Expectations are very high.

John Deane, Uh, of course was such a central figure UM in the Watergate scandal, tweeted that this better be a big deal, UM, saying that it needs to rise to the importance of Alex Butterfield testifying that to Nixon's secret taping system. So it's the high expectations for the committee today. UM. Of course, a big question mark as

to what exactly we're going to be seen from this testimony. Yeah, I know, we'll be watching for that hearing to get underway right around one pm Wall Street time from Capitol Hill. Bloomberg Government reporter Emily Wilkins. Thanks, as always for the update from the nation's capital. You can read more about all these stories on Bloomberg dot com or on the Bloomberg terminal, and a reminder, you can follow all the latest on Bloomberg Radio in Washington Bloomberg and one oh

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