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

Plus primary elections take place in seven states tomorrow, including New Jersey. I'm Michael Barr. More ahead, I'm John stashon sports. A late goal lift in Tampa Bay over the Rangers, the Warriors beat the Celtics, wins for the Mets and Yankees. That's All's trading ahead on Bloomberg Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Syrius Exam one nineteen and around the world long Bloomberg

Radio dot Com and via the Bloomberg Business App. Good morning, I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak is brought to you by b n Y Melon, Pershing's Insight conference back in person June fifteen through the seventeenth of the

Gaylord Resort in grape Vine, Texas. Don't miss it. Register now at Insights dot b n y Melon dot com and Futures This morning on the rise six o one on Wall Street, we checked the markets every fifteen minutes throughout the trading day on bloomberg S and P Future is at forty points now, Futures up two d fifty two and nasday futures up one hundred sixty one. The

decks in Germany's up nine tenths of a percent. The tenure Treasury is down seven thirty seconds to yield is at two point on six percent of the yield on the two year two point six eight percent. Nathan, Well, Karen, we are seeing this lift in markets as we begin a new trading week and helping to boost sentiment in Asia Beijing reopening further from COVID restrictions. Let's get the

recap from Bloomberg's Juliette sal in Singapore. Morning. Juliet, Good morning, Nathan and Karen, Japanese equities are raised earlier losses, and Texas rose in Hong Kong following the long weekend, this after a gauge of Chinese companies traded in the US had risen two percent of the two trading sessions that Hong Kong had been closed. Stocks in Maitland China advanced as Beijing ease back COVID nineteen restrictions, also lifting the

on Choi one. Australian stocks fell, bucking the trend ahead of an expected second consecutive interest rate increased Tuesday, whilstwiss Bank Ubs said buying the Assi Dolla is a phenomenal trade in Singapore. Juliette Sally Bloomberg Daybreak a right Juliet, thank you all. Oil also on the rise this morning, approaching a hundred twenty dollars of barrel. Saudi Arabia is signaling confidence and demand for oil. The kingdom raised prices

more than expected for Asian customers again. More from Bloomberg Markets Live editor Heather burg Sad Arabia signal competence with the demand um with the bigger than expected price increase of its crude for Asia, and overall we're seeing improving demand picture. Um, we're heading into peak summer driving season, and also in China, which is the top crude buyer.

They um, they continue to ease COVID restrictions, we should also help the demand side of oil and Bluebear Markets Line editor Heather Berg says oil has rallied almost sixty this year. Checking prices right now, nine NX screwded oil up eight tens per center cents and a hundred nineteen dollars eighty cents of barrel and brent is up eight tens percent at a D twenty seventy three cents. Rising oil prices have certainly been a major factor in inflation increases.

Karen and now President Biden's Commerce chief Gena Romando, says it may make sense to lift tariffs on some imported products help ease higher prices steel and aluminum. We've decided to keep some of those tariffs because we need to protect American workers and we need to protect our our steel industry. That's a matter of national security. There are other products, um, you know, household goods, bicycles, etcetera. Uh,

and it may make sense. Commerce Secretary Gena Romando made the comments on CNN over the weekend, we all straight bracing for a key report on inflation. Nathan. We get the story from Bloombergy's Vinny del ju Dice. The Labor Department will issue May's consumer price index on Friday. Economists say that you over your inflation rate will continue near historic levels, copping eight percent. A major driver in May record petroleum costs in addition to the sustained run up

another household stables. Also on this week's data agenda, University of Michigan figures on consumer sentiment. Sentiment has been running low as the quest of living runs Highnce Bloomberg day Break, All right, Vinny, thank you. As the Fed remains focused on fighting inflation, we are getting word from Goldman Sachs that the US economy remains on a narrow path to a soft landing. Let's get more on that line from Bloomberg's You Need a Young Good Morning, Grened a good morning, Nathan.

Goldman says improving inflation numbers and other factors suggests that the Fed may be able to pull off its aggressive rate hike plan without tipping the country into a recession. Goldman economists say sequential core inflation appears to be slowing and pressures on the supply chain are improving, even as

signs of softening in the job market emerges. Now, the economists say, while the deterioration and indicators like the first quarters GDP contractions suggest near term recession risks has increased, other measures show output is expanding. Live in New York, I'm reneed a young Bloomberg day break right re need to thank you. At least a half a dozen central

banks are expected to raise interest rates this week. Meanwhile, the European Central Bank is predicting to finally join the global tightening bandwagon, with policymakers on Thursday expected to announce it and to bond purchases and formally begin the countdown to an increase in borrowing costs in July. While staying in Europe, care in the future of Boris Johnson is in focus as he faces a leadership vote in his ruling Conservative Party. Let's go to London and get the

very latest with Bloomberg's human pots. Good morning and good morning, Nathan and Karen. After months of speculation, at eight a m. Outside the British House of the Parliament, it was announced that the Prime Minister is the face of votes of confidence in his leadership. This after more than fifteen percent of lawmakers from Boris Johnson's own Conservative party called for the votes. The pms be under five for a series of the legal gatherings at Downing Street during the COVID lockdowns.

The votes on Johnson's future will conclude at eight p m. London time, and he needs the supports of at least half of lawmakers to keep his position in London. Immune Parts spoombook, debreak here and thank you back here. In the US, President Biden will take executive action to boost the US solar industry. Bloombergs Amy Morris has detailed Stoomer

newsroom in Washington. Sources tell Bloomberg News the President plans to invoke the Defense Production Act to provide support for US made solar panels, while announcing a two year halt on new solar tariffs now that would allow domestic developers to use the foreign equipment while US manufacturing ramps up. The White House is also said to use the federal government's purchasing power to help support American clean energy manufacturers.

The announcement could come as early as today. In Washington. I'm Amy Morris Bloomberg debrisk okay me thank you? In Starbucks is looking at external candidates only for its next CEO. That's according to interim chief Howard Schultz, who tells the Wall Street Journal the coffee chain needs to add new talent and skills to its leadership ranks. Schultz is in his third stint running Starbucks. He says he is not

a candidate for the full time job. And you're listening to Bloomberg Daybreak for it sounds six o seven on Wall Street, sixty four degrees in Central Park, and we've got a crash on the upbound upper level of the George Washington Ridge. Details coming up in traffic. First Michael bar with more on what's going on in New York and around the world. Good morning, Michael, Good morning Nathan. A deadly weekend of shootings in the US and several

states left about a dozen people dead. In Philadelphia, three people were killed and eleven wounded into shooting. Philadelphia Police Commissioner Daniel Outlaw says they are looking for the shooter who fled on foot. We're working with our local, state and federal partners to make sure that no lead is lost and that no stone remains unturned. Commissioner Outlaws has Authorities are offering a twenty dollar reward for information leading to the arrest of the shooter. Shooting near a Chattanooga

nightclub left three dead. Police say four team were shot and three others were hit by vehicles. Chattanooga Mayor Tim Kelly, are there an avid hunter and a marksman all my life? And I want to say clearly a fully responsible I fully support rather responsible gun ownership. The Congress needs to do their jobs and past common sense regulations that will

help stop this nonsense. Mayor Kelly implored parents to keep track of their children, especially if they suspect they carry guns mean while bipartisan group of U. S senators say gun talks are innching forward, though a deal is far from assured. Officials fear more than fifty people were killed in southwestern Nigeria when gunmen burst into a Catholic church during mass, opening fire and deadenating explosives. Primary elections in

New Jersey and six other states take place tomorrow. It will set the stage for US House and Send It battles this fall and will play into cont troll of Congress In New Jersey's GOP primary, Tom Malinowski won by fewer than two percentage points in twenty and his district has become slightly more Republican since new congressional district lines were set last year. I'll see your eight and match it. The US and South Korea launched eight missiles into the

Sea of Japan today in response to North Korea. Yesterday, the North test fired eight missiles as well into the sea. The South's military says he wanted to demonstrate the allies immediate precision strike capabilities and readiness to use them. Alec john Such, the basis and founding member of the iconic rock band Bon Jovias, died. He was the new Jersey

rock bands basis. From three to Alec John Such was seventy global news twenty four hours a day on air and on Bloomberg quittake power by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael barn this is Bloomberg, Nathan. Thanks Michael six O nine on Wall Street time for the Bloomberg Sports Update with John Stashow x Nathan. Rangers fans probably did not realistically expect that series sweep of Tampa Bayo. They likely

head to their minds. When the Rangers scored two power play goals in the second period, they led game three to nothing, but the Lightning came back a couple of power play goals of their own, and then in the final minute, the first and only five on five goal of the game goes shoot stay by the circuit pre bound to turn at right point let point head been class speed f f l A and Tampa. The goal

came in only forty two seconds remaining. The Lightning won three two and the Rangers now leading series to one. Game four tomorrow, Game two of the NBA Finals, Warriors dominated the third quarter. That was the difference. They beat the Celtics one oh seven to eighty eight to tie the series at one. Quinn Snyder resigned after eight years as the coach of the Utah Jazz. Matt's in l A trailed early and then scored three runs of the eighth inning. They were one out from victory the bottom

of the nine when the Dodgers tied the game. That's still won five, four and ten, and they gained a split of the four games set after they dropped the first two. They played tonight in San Diego Yankees are off a like. The Mets also won five four in tenantings after Detroit tied the game and the eighth of Josh Donaldson sacked fly in the tenth, and the Yanks sweep the six game homestand a third of the way through the season, the Yankees are thirty nine and fifteen.

It's the best record any MLB team has had at this point in the last twenty one years, making fourteen French Open titles for Raffael Nodal twenty two Grand Slams. That's two more than Roger Federer and Novak Djokovic. Billy Horshaw won Memorial Galpin Ohio by four shots. John stash Eller Bloomberg Sports, Nathan Okay, John, thank you right now.

SMP futures are up forty two point STUN futures up two sixty seven, NAZAC future is higher by a hundred sixty nine points, and the tenure treasury is down seven thirty seconds. The yield just shy of two point nine six per cent. More insights on this market as we get set for the new trading week. Michael Houston, Chief mark an Analyst at CMC Markets joins US next This is Bloomberg and Bloomberg Daybreak is brought to you by

the Jewish Communal Fund JCFS. Don't advised fund is the smart choice to manage your philanthropy, especially in times of crisis. Make your giving impactful. Visit j c f n Y dot org, markets headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business at and at Bloomberg Quicktake, This is a Bloomberg business flash

and I'm Karin. Moscow songs in Europe are gaining along with US stock index futures as Beijing's latest move to use COVID restrictions and checks a note of optimism into markets rattled by inflation and rate high concerns treasuries and dollar slipping. We checked the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, S and P futures have forty two points NOWL futures have two D sixty three and Nasdaq futures up one hundred sixty nine.

The decks in Germany's up one percent ten your treasury down six thirty seconds. You'll two point nine five percent. The yield on the two year two point six eight percent. Nimex scrude oil is up half percent, or sixty four cents, at a hundred nineteen dollars fifty two cents a barrel. Comics schooled up a third per cent, or six dollars

fifty cents. In eighteen fifty six, seventy announced the euro one point oh seven four four against the dollar, British found one point two five eight and the end one thirty point six eight. Bitcoin this morning is at four point nine percent at thirty one thousand, three d eighty eight dollars. 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. Boris Johnson could be

ousted as Britain's Prime minister. He's facing an old confidence vote in his Conservative party after he had rule breaking parties during the COVID lockdown. Lawmakers in Washington say they're more hopeful than ever that bipartisan negotiations on gun reform will finally get somewhere me and while the several mass shootings over the weekend, the Warriors even the NBA Finals that a game of piece after beating the Celtics in Game three of the NHL East Final. The Rangers lost

for the Lightning three too. In baseball, the Yankees and Mets one, the Red Sox beat the A's, the Orioles lost the Nationals and Giants one. Global News twenty four hours a day on air and on Bloomberg Quick Day, powered by more than twenty seven hundred journalists and analysts in more than a hundred twenty countries. Michael Barr, this is Bloomberg. Nathan. Okay, Michael, thank you his six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.

This is Bloomberg Daybreak, and just want to pass along this spread headline that just crossed the Bloomberg terminal moments ago. India in talks to increase Russian oil imports from Rosneft. Take a look at how that could impact the crude market with West Texas Intermediate right now at a half percent or a hundred nineteen dollars forty eight cents a barrel. On word that Saudi Arabia could be ready to increase production. Will be following that for you throughout the morning here

on Bloomberg day Break. In the meantime, Michael Houston is with us this morning, Chief Mark, an analyst at CMC Markets, as we take a look at a risk on start to the week. Michael, good morning. Karen mentioned the boosting sentiment from China lifting some COVID restrictions. Could this be the start of something good for the equity market or is this a bear market rally. I still think this is potentially a bear market rally. I think nothing at

the moment has convinced me otherwise. I think the picture will become slightly clearer, certainly in the context of whether or not inflation is peaked, and I think that is probably the overranching narrative at the moment. It's not so much whether or not China is starting to unlock. We knew that anyway. Um shanghaiing restrictions from the first of June.

Beijing is starting to do the same thing. I think the biggest concern I think as regards the Chinese economy is concerned is whether or not we get a V shaped rebound there, and I'm not convinced that we can given the low vaccination rates of the Chinese population and the fact China is still insisting on zero COVID policy. So the bigger question is this week's you a CPI kind of we hit peak inflation or are we plessoing? And obviously what the e CBS intentions are going forward.

So I think we're in a little bit of no man's land uncertainty over the course of the next two weeks because no sooner do we get the ECB out the way, and obviously we've got the Federal Reserve coming up next week as well. So what's your read on whether we could be at peak inflation at this point? What's your expectation heading into that CPI print coming on Friday.

If I look at the bond market and I look at ten new yields, then certainly I think there is a perception on the part of bond markets that we have because if you look at the price action and you look at the fairly subdued reaction that we saw to Friday's payrolls date, for I think as long as the ten year yields stays below three that I certainly think there is a ability by markets to push the

SMP higher. If we can get back above four thousand, two hundred and bond yields soften, then I think there's there's potentially good traction the further gains, but you know, let's not let's not get too overenthusiastic about this. We are still in a downtrend. We have been in a town trend since the end of last year. We can go back as far as four thousand, four hundred and

still for me being a bear market rally. So I think there is potential for further upside, but I think an awful lot will depend on whether or not the Fed goes fifty basis points in September, which is what I think what markets are concerned about at the moment, in the aftermath of obviously a June and July. If basis points right movement, I think the picture will become much clearer. Jackson Hall and we do have the SMP right now at eight after the Friday close. Uh, Michael,

we have just about a minute left here. What is your feel on whether the Fed is going to continue with aggressive rate hikes. It does seem as though the markets priced in fifty basis point moves this month and next. What should markets be looking for when it comes to gaming out whether we could see even more aggressive rate

tightening in the months to come well. I think if we look at pc that has been on the downward track since March, I think if this week's CPI and them it comes in below eight points, or the core prices coming significantly lower, then we could see start price We could start to see pricing come out of that fifty basis point move that markets are already starting to price in. So I think the next few weeks, the

next couple of weeks are going to be crucial. Softening in CPI this week and then see what the Fed says with respect to its dot plot and obviously it's forward guidance going forward next week. Now very important FED meeting coming up next week and at least a half dozen central banks expected to join the rate hiking party this week alone. Michael Houston, Chief Market Analyst CMC Markets as always great to get your thoughts as we get ready for another trading week ahead of all that central

bank action this week and next. Looking ahead to the market open, we do have futures moving higher, with SMP futures up forty three points or one point one percent down. Futures are up two hundred sixty six points, and NAZDAC futures are leading the Games this morning up a hundred seventy four points. That's a gain of one point four percent. Docks in Germany up one percent, the cat in Paris up one point one percent, the foot Sea in London

up one point three percent. Ahead of that confidence vote for UK Prime Minister Boris Johnson later today ten Your treasuries down six thirty seconds, the yield two point nine five percent and the yield on the two year two point six seven percent. Just ahead, the Biden administration opens the door to lifting some tariffs, and Goldman Sachs sees

a narrow path to a soft landing. Five things you need to know to start your day Coming up on Bloomberg Daybreak and Bloomberg Daybreak is brought to you by hoff Street University's Frank gz RB School of Business, top ranked online MBA program with a real world foundation. Learn more at Hofstreed Dot E d U slash go grad.

Broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg E Living Freedom to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg No. Sixt to the Country Sirius XM to the one nine team 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 Hagar and I'm Karen Moscow. We're just about three hours away from

the open of US trading. Time for the five things you need to notice start your day. Brought to you by I b k R Investment Advisers switched to Interactive Brokers for lowest cost global trading and turnkey custody solutions, no ticket charges and no conflicts of your interests at I v k R dot com slash r I A first. We're seeing a lift in markets to begin a new trading week, with a boost from Asia. Beijing is reopening

further from its COVID restrictions, raising stocks in China. Japanese equities are raised earlier losses, and Tex shares rose in Hong Kong now also on the rise. This morning. Oil karen hovering about around a hundred twenty dollars of barrel. This comes to Saudi Arabia, signals confidence in demand for oil. The kingdom raised prices more than expected for Asian customers.

Checking prices now, Nimex cruds up seven tenths per center eighty two cents at a hundred nineteen sixty nine cents of barrel brent is up seven tenths per cent at a hundred twenty dollars fifty three cents. And turning to Washington Now, Nathan President Biden's Commerce chief Gina Raimondo says the administration is not willing to lift all tariffs on imported steel and aluminum right now. We've decided to keep some of those tariffs because we need to protect American

workers and we need to protect our steel industry. That's a matter of national security. Commerce Secretary Genna Romando told CNN over the weekend that lifting tariffs on other household goods may make sense to help ease rising prices, well as the Fed AIMCS price hikes. Karen Goldman Sachs says the U S economy remains on a narrow path to a soft landing. Let's get more on that live from Bloomberg's We Need a Young, Good Morning, rena Good Morning.

Nathan Goldman says improving inflation numbers and other factors suggest that the Fed may be able to pull off its aggressive rate hip rate hike plan without tipping the country into a recession. Economists there's say sequential core inflation appears to be slowing and supply chain pressures are improving now, Goldman says. While the deterioration and indicators like the first quarter GDP suggests near term recession risk has increased, other

measures show output is still expanding. Live in New York, I'm real need a you know, Bloomberg debreaks alright, Redy to thank you. At least a half a dozen central banks are expected to raise interest rates this week, and the European Central Bank is expected to announce it and to bond purchases and formally begin the countdown to an increase in borrowing costs In July and staying in Europe, Karen Boris Johnson will face the leadership vote in his

ruling Conservative party that could remove him from office. And that's the five things you need to notice start your day. Brought to you by Interactive Brokers. Futures higher SNP futures have forty four points down, futures up two hundred and sixty six, NASTAG futures up a hundred eighty two Straight

ahead your top local headlines. This is Bloomberg. Thanks here in six thirty three on Wall Street, sixty four degrees in Central Park, looking at our long delays on the inbound upper level of the George Washington Bridge with an accident there details coming up in traffic. First Michael Barr with what else is going on in New York and around the world. Good morning, Michael, Good morning Nathan. It has been a weekend of shootings in several states that

have left about a dozen people dead. One shooting in Philadelphia left three dead and an other elevant injured. Philadelphia Police Commissioner Danielle Outlaw, these incidents have an exponential effect on our community, and it not only impacts the individual that's been directly victimized, but it victimizes their loved ones, their families, and their neighbors neighborhoods all over the world. Commissioner Outlaws. As a fight between two males led to

the shootings, the suspect fled on foot. In Chattanooga, three people are dead after a shootout near a nightclub. Meanwhile, there are some reports that US senators are injuring towards some kind of compromise and movement on gun safety. Bloomberg's and Baxter reports a bipartisan group is working in Republican Pat Toomey says background checks are on the table, at least for commercial sales of firearms. There ought to be a background check, so sales at gun shows, sales that

are advertised over the internet. Toomey has been working with Democrat Joe Manchin for years on this, and Toomey on CBS has heard here on Bloomberg says the outcome of these talks is still uncertain. We are still trying to figure out exactly what mechanism is going to enable us to get the votes that we would need. But he says closer this time in San Francisco, I'm at Baxter Bloomberg gave break Primary elections in New Jersey and six other states tomorrow will set the stage for US House

and Senate battles this fall. The New Jersey GOP primary has Tom Malinowski he wanted by fewer than two percentage points in and his district has become slightly more Republican since new congressional district lines were set last year. After North Korea test fired eight short range ballistic missile Sunday, the US launched to join exercise with South Korea and

Japan to demonstrate their ability to quickly respond. Today, the US military conducted what it called a ballistic missile defense exercise, also firing eight missiles into the Sea of Japan. Four days of UK celebrations came to an end in London last night, commemorating the Queen seventy years on the throne. In the surprise, Queen Elizabeth stepped out on the palace

balcony to the cheers of the Crown. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts, are more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan, Michael, thanks almost six thirty six on Wall Street, John stash Hour because the Bloomberg Sports Update bags Nathan. Rangers went down to Tampa having won their

last four playoff games six and the last seven. They had a lead in Game three, yet another power play goal for me because advantage ad and shortly after that Chris Pryder with a man advantage, but in the rebound of his advantage jet Shop at Tampa Bay Guy power play goals and Nikita Coop drops second proage Steven stamp coos in the third. The Lightning dominated the third period big edge and shots on goal. They won three two on Andre Polot goal off a nifty pass with coup

drop only forty two seconds remaining. Rangers still lead the series to one game four tomorrow. NBA Finals now tied one. Golden State beat Boston one of seven to eighty eight, outscored the Celtics. Is the third quarter, thirty five and fourteen. Yankees going for a sweep for the homestand of back and fourth game with the Tigers tied four four tenth and he swung on their clothes keek left field. That's

gonna win the game. Harold has go back and he made the catch on the winning track, tagging his judge. He's scores full game over. Yankees win an they've been doing a lot of that. A Yankee record of thirty nine and fifteen a third of the way through the season. That's the best in baseball at this point since two

thousand one. Mets also won five four that was also intend and in after the Dodgers tied the game of two of the ninth on SETH Lugo J. D. Davis double on the tenth Mets Gata split of the four game series in l A. And now they moved down to San Diego. When Pete Sampras retired from tennis, not that long ago he had the record for most Grand Slams one He's now fourth with fourteen, and Raphael the Dallas won fourteen French Opens twenty two slams. It was

fate sets of the impact. John Bloomberg, spoo, alright, John, thank you. It is six thirty seven on Wall straight timing. How to take a look at stocks, some of the names moving in the pre market. Bloomberg Radio and TV Markets correspondent Crety Gupta is with us this morning, and createy, what would the pre market be without taking a look at Tesla um not very exciting apparently, or not really a normal morning, I should say. Nevertheless, we are shielded

from that possibility. Tesla shares of course up three point six percent. T s L as your taker, it's all about Elon Musk surprise surprise. Remember on Friday he did talk about perhaps having a super bad feeling about the economy, Reuter's reporting that there's an internal email in which he said that he is going to perhaps cut Tesla's task

force by about ten percent, so a huge number. In addition to his quote super bad feeling about the economy, of course, we heard that similar sentiment from Jamie Diamond as well. That being said over the weekend, he did actually say, well, salaried workers um would actually potentially hold or their their jobs in terms of their pay, would

it be flat? They would also perhaps increase headcount. So some mixed messages coming out of Tesla here in terms of what to actually expect and remember, in some ways, Tesla can be this macro bell weather. It can be this idea that this is kind of the e V transition. This is a company that has a lot of exposure not just to the United States naturally, but to China,

to Berlin as well. So what happens with Tesla and its production numbers can actually be somewhat of a bell weather for COVID lockdowns or global growth as a whole. But also keep in mind, Nathan, it's a heavyweight in both the SMPI and the NASTICS, So what happens with Tesla can actually affect the entire benchmark, even if you're not actively investing in the specific stock itself. Nevertheless, this morning, simply that mixed message is a little bit of rebound

coming from one of its worst days. And I think about a year on Friday, T s l A those shares are back up shy four percent. Of course, another big heavyweight in the indexes is Amazon. They just have that big stock split. What's Amazon doing right now? Well, A Zone shares are up, and this is no surprise here as we talk about you know, stock splits broadly.

You saw this with Apple shares as well. Amazon though not up as much as you would think, only up six tenths of one percent, but still higher on the day A m Z and it's your taker. And remember you need tech on your side to see a little bit of a rebound, so to see Tesla up, to see Amazon up. Right off the bat, you've got two of the big tech heavyweights up, which could actually explain why perhaps you're seeing UH futures come back up already

in pre market trading. Another one to really keep in mind here, and I know we're only talking about American tech, but we should talk about Chinese tech as well. DD global soaring after report that Chinese regulators are about to conclude a probe into the company from restore it's apps to mobile stores as soon as this week. Of course, we know dd has had quite the wild ride in terms of delisting, in terms of kind of steaks taken

by Chinese government, those shares up fifty in the pre market. Nathan, whoa big jump there, Bloomberg Radio TV Markets correspondent Creety Goopda, as always, thanks for keeping on top of what's happening under the hood in the premar market, and as we take a look at stocks as a whole, we do have futures moving higher, with SMP futures up forty three points down, futures up Tune at fifty nine, Nasdaq futures up a hundred eighty two points, and the tenure treasury

yield two point nine five. Stay with us, you're listening to Bloomberg Daybreak Bloomberg eleven three oh. Weathers start in the week with sunshine and a high your eighty degrees today, upper seventies, partly sunny Tomorrow, Showers and storms likely Wednesday, with highs back in the upper seventies. Currently sixty four in Central Park, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business

at and at Bloomberg Quick Tape. He's a Bloomberg Business lash. Hi, I'm Cameron Moscow, and futures are higher this morning. We got to the first word breaking news dash for today's morning call, and here's Bill Maloney. A good morning, Okay, and good morning Karen. That's right. US features are in

the green, helped by Beijing further easing COVID restrictions. Dof you just currently up two and fifty three points SUPs game forty four when as deck futures are up by seven, the US ten year old at two point nine five percent, Gold is up three, oils trading higher, and bitcoin is climbing by four point nine percent. Hong Kong roads two point seven percent overnight, while up markets are also in

the green. This morning, back in the US and nothing to report on the economic front and in other news, d D is up fifty three percent free market on a Wall Street Journal report that China will conclude it's probe. Also,

Amazon trade split adjusted today. Wrapping things up, Lula Lemon was raised to market perform ed Bernstein CrowdStrike race to avoid at Morgan Stanley and Spotify was raised to outfl form over at Raymond James Live from the First Breaking News descom Bill Maloney camera, all right, Bill, thank you and to hear live breaking news over a Bloomberg type squalk on your terminal, sc you a w U K

and that's a Bloomber in business flash. Now here's Michael Barrow with more on what's going on around the world. Michael Karen, thank you very much. A possible turning point on gun control. After a weekend of mass shootings, US lawmakers say they're more hopeful than ever that bipartisan negotiations will finally get somewhere. Boris Johnson could be ousked a tonight as Britain's Prime Minister. He is facing a no confidence vote in his Conservative party after revelations he broke

COVID lockdown rules. The Warriors even the NBA Finals at the Game of Peace. After beating the Celtics Game three of the NHL East Final, the Rangers lost to the Lightning three two. In baseball, the Yankees and Mets one. The Red Sox beat the A's, the Orioles lost the Nationals and Giants won Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalist and analyst in more

than a hundred twenty countries. I'm Michael barn This is Bloomberg. The following commentary is from Bloomberg Opinion. Ted Cruise's anti gun elites aren't hiding behind walls than gates. I'm Justin Fox, a columnist for Bloomberg Opinion. The elites in society have the loudest megaphone when it comes to gun control. Senator Ted Cruz declared last month they live in gated neighborhoods

and have private security. This seemed like a claim worth investigating, so I did, and well, I couldn't really figure out what the people who lived there think about gun control. I did learn the gated communities, along a bugaboo for the political left increasingly one for the right, aren't all

they're cracked up to be. That is, they really were a growing phenomenon in the US in the nineteen eighties and nineteen nineties, but according to Census Bureau data, the boom is fizzled since most homeowners and gated communities make less than a hundred thousand dollars a year, and few of the nation's richest neighborhoods are enclosed by gates. I'm justin Fox. For more opinion, please go to Bloomberg dot com, Slash Opinion or O P I n go on the

Bloomberg terminal. These has been Bloomberg Opinion and Bloomberg Opinion commentaries can be and every weekday at this time and terminal customers can read more at O P I N go at A six fifty on Wall Street. Returned 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, ranked top fifty national public university by US News and World Report and number

fourteen in the nation on Money's Best Colleges List. Learn more at n j I T dot E d U and now Here's what's making news and science, Technology, engineering, and math. President Biden will take executive action to boost the U. S solar industry. Bloomberg News has learned. He'll invoke the Defense Production Act to provide support for American

made solar panels. The President will also announce a two year hal to new solar tariffs that would allow domestic developers to continue using foreign made equipment while US manufacturing ramps up. China has launched a new three person mission to complete assembly work on its permanent orbiting space station.

The launch was broadcast live on state television, indicating a rising level of confidence and the capabilities of the space program, which has been promoted as a sign of China's technological progress and global influence. And new analysis shows staff at major banks and some of the world's biggest technology giants

are increasingly leaving for fintech startups. Bankers, engineers, data scientists, and sales staff from Wall Street, the City of London, and Silicon Valley are among those joining an exodus that picked up speed during the pandemic, according to data compiled by Rebellio Labs, a workplace intelligence company, and as the Bloomberg and j I T Stem Report. Nathan all Right, Karen, thanks rely from the Bloomberg Interactive Brokers Studios. Where it's

coming up to six fifty two on Wall Street. I'm not to check what's going on in d C. Some of the top stories in our nation's capital include the Biden administration defending of the president's efforts to fight inflation, even with gas prices edging close to five dollars a gala nationwide, Transportation Secretary Pete Botaje tolls ABC's this week,

it's up to the oil companies to increase supplying. It's been very striking right now to see these oil companies who have become almost ridiculously profitable, and you hear these oil executives on the record talking about how they're not going to increase production. Also making news. Bipartisan Senate talks

on gun legislation continuing. Pennsylvania Republican pat to me as part of the conversations, we all agree that violent criminals and and deranged, dangerously mentally ill people shouldn't have firearms. So we need a mechanism to increase the likelihood that will identify such a person and prevent them from buying a gun legally anyway. And Senator to me was on CBSS Face the Nation and the House January six committees

getting ready for prime time hearings this week. Democrat Adam Schiff hopes they make an impression on voters, the American people. I think no great deal already, there's a great deal they haven't seen, but perhaps most important is the public hasn't seen it woven together, how one thing led to another, how one line of effort to overturn the election led to another and ultimately led to terrible violence, the first

non peaceful transfer of power in our history. Congressman Schiff was also on Face the Nation, which you can hear every Sunday right here on Bloomberg Radio along with ABC's This Week. Bloomberg Government reporter Emily Wilkins is with us now for more on all these stories. Emily, while we await those primetime hearings from the January six Committee, the focus and the Biden administration remains on tackling inflation, at least that's what we've been hearing over the last few

weeks now. But there's some evidence of cracks in that United front from some reporting about a new book about Treasury Secretary Janet Yellen over the weekend. Tell us more. Yeah, So, Bloomberg News reported that a new book coming out of a called Empathy Economics by Owen Allman. It's all about Jenny Ellen, um but it says that she advocated for

a smaller rescue plan to for COVID. Remember that was a one point nine trillion dollar package proposed by being a Biden administration just when Biden had gotten into office, and Democrats wound up passing that through UM. At the time, it was really held for kind of getting the country but helping the country gets back on its feet after COVID. But now it's being blamed in part for the rise in inflation, saying that that was overspending by the government.

And this new book suggests that Jenny Yellen, his Treasury secretary, did have some initial concerns about that high cost um. And now that Jenny Yellen has come out and actually said that, you know that that wasn't accurate UM that you know, she fully supported the plan, and we did see her at the time go ahead and support it. But we also do know that there were some concerns among economists, most notably Larry Summers, as to exactly the

overall price of the package UM. And so it's just coming out of time where you've already heard Jenny Yellen apologized last week UH saying that you know, she initially thought that inflation would be more transitory than it was, and that of course things like the war in Ukraine, additional variants of COVID really wound up changing calculation. Um. And she'll be in front of Congress this week also testifying. So definitely we'll be keeping an eye out there for

how she handles questions on inflation. But right now, inflation is certainly I think, of of all the headaches that President Biden is dealing with, really one one of the top ones. Of course, another top headache is this ongoing surge in gun violence that's led to this debate in the Senate over what to do about it. We had another round of shootings over the weekend. Where does that debate stand right now? Emily, So this is gonna be a really interesting way for that debate anything, because this

is kind of where the rubber meets the road. A lot of the discussions that were going on, particularly the bipartisan group headed by Chris Murphy and John Cornyn Democrat and a Republican. I mean, they've been meeting, but it's all been virtual. Now they're coming back to d C tonight. Um, they'll finally be in the same room again. They're going to continue to chat and you hear a lot of optimism. I mean, Chris Murphy said the group, Um, you know,

it's closer than ever before on the package of gun measures. Um, you've heard think Pat to me in the clip that you played, you know, say that there are discussions under way and that they're close to any deals they've ever been before. But there's still huge questions whether they can actually come to an agreement and what that agreement would look like. I mean, Republicans say they don't want any

sort of restrictions on on gun control. Um, that they want to focus on mental health and on school safety. And there really is a question is that going to be enough for Democrats who really want to see some action on this after several major mass shootings in the past month. Yeah, a lot to look forward to, a lot to keep an eye on as Congress gets back from its uh Spring recess. Emily Wilkins and Bloomberg Government, as always, thanks for keeping us updated on what's happening

in the nation's capital. You can read much more about all these stories on Bloomberg dot com or on the Bloomberg terminal, And as a reminder, you can follow all the latest on Bloomberg Radio in Washington at Bloomberg and one oh five point seven fam h D two. Looking ahead to the market open uh China rolling back some more of its COVID restrictions looks to be giving a boost to equity investors. We've got SMP futures right now up forty four points, a gain of one point one percent.

Down futures are higher by two hundred sixty three points, and NASDAC futures leading the games right now one and a half percent, up a hundred eighty seven points. Right now, the tenure Treasury is down four thirty seconds. The yield two point nine four percent on the benchmark tenure note. Yield on the two year two point six seven nime X screwed is up a half percent, or sixty three cents at a hundred nineteen dollars fifty cents of barrel. The euro right now one point zero seven two six

against the dollar. Bloomberg Surveillance up next to Tom Keene, Jonathan Faroh, and Lisa brom Bolades for Karen Moscow. I'm Nathan Hagar. This is Bloomberg