Bloomberg Daybreak: March 10, 2022 - Hour 2 (Radio)

has elected a new president. I'm Michael Blah I'm John stash Our in sports, third straight win for the nixt st John's advances, and the baseball lockout continues. That's all straight ahead on Bloomberg day Break on Bloomberg eleven FREO New York, Bloomberg Washington, d C, Bloomberg one O six one, Boston, Bloomberg nine six, Francisco, Sirius x M one nineteen and around the world Old on Bloomberg Radio dot Com and

via The Bloomberg Business or Good Morning. I'm Nathan Hagar, but I'm Karen Moscow and US Dock index futures are lower this morning. Work coming up to six O one on Wall Street, and we check the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, SMP futures are down thirty three points down, features down two hundred seventy NASDAG futures down one forty six the decks

in Germany's down two and a quarter percent. Ten year treasury up seven thirty seconds, held one point nine two percent, yield on the two year one point six six percent. Nathan Karen, we begin with the latest in the war in Ukraine. Foreign ministers from Russia and Ukraine met in Turkey today but failed to make progress in talks to stop the war. Moscow says it will continue attacks until its demands are met, including the surrender of Ukraine. We

get more from Bloomberg, said back Stair. President Zelenski's deputy chief of staff, Zokova, says that ultimately it will be solved whether Zelensky putin face to face. So asked the world community to existance in having these direct negotiations to sit down with at the negotiation table. Meanwhile, Pentagon spokesman John Kirby says the US doesn't think Poland's idea to

supply makes the Ukraine will work. The intelligence community has assessed the transfer of mid twenty nine to Ukraine may be mistaken as escalatory, and Kirby says that would hurt Ukraine even further. In San Francisco, I'm at Baxter Bloomberg, Gay break all right and thank you Meantime, Ukrainian President vladimir'sz Lensky is accusing Russia of war crimes, as after an air strike hit an maternity hospital and the besieged

city of Mariopol. An aerial obama on an maternity hospital is the conclusive evidence that what is happening is a genocide of Ukrainians Europeans. You won't be able to say that you didn't see what happened to Ukrainians and Mary up Paul, you saw. You know. Consequently, you must strengthen sanctions against Russia so that it never has the chance to continue this genocide. President Zelenski. He said the attack

hill three people, including a child. That's according to Mario Pol's city council, and President Zelenski is still asking NATO to set up a no fly zone Karen, but the Pentagon warns that would escalate the situation. Illinois Democrat Roger Christian Murthy sits on the House Intelligence Committee. We can't let Prutin decide what we're going to do to help

our friends defend their freedom. And so when President Zelenski asked us in a zoom call about a week ago to either enforce a no fly zone or give him the means to do so, I think we should do whatever we can. Congressman Roger Christian Murthy spoke with our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the program weekdays at five pm Eastern on Bloomberg Radio, Well Nathan. The House has passed a more than thirteen billion dollar aid package for Ukraine as part of a measure to

fund the US government for the coming year. Hemmy Morris has the details from our Bloomberg newsroom in Washington. The emergency Ukraine related spending includes six and a half billion dollars for the Pentagon. That's three billion to bolster U S troops in Europe and three and a half billion to replace weapons given to Ukraine. Coronavirus funding was taken out of the measure, and domestic agencies will get their

biggest increases in years under the bill. Now it's up to the Senate to sign off on the legislation before the current stop gap measure expires Friday night. Just in case, the House also sent the Senate a four day spending bill just to buy a little extra time that one expires. March fifteen. In Washington, I'm Amy Morris Bloomberg Daybreak. Okay, Amy, thank you. The House also approved legislation barring US imports of Russian oil. Let's get the details on that live

from Bloomberg's Rinita Young. Good morning, Grenita, Good morning Nathan. The US ban on Russian oil imports would go into effect forty five days after it's signed into law. The House legislation also takes steps to review Russia's access to the World Trade Organization, and it reauthorizes and strengthens the Magnitsky Act, which calls for sanctions on offenders of human rights.

But the legislation does have a provision letting the President allow some products to be imported from Russia if they're in the national inter but they'll be subject to review by Congress. Live in New York, I'm gonna need a young Bloomberg Daybreak. I need to thank you. Inflation also and focus. This morning, with the release of February's consumer price index, we get a preview from Bloomberg's Michael McKee. A few weeks ago, many economists were eyeing in February

as the peak in US consumer inflation. Now it's looking more like a fresh baseline. The consumer price index is forecast to rise the most since two but economists are now saying it could peak somewhere in the eight to nine percent range this month or next. The invasion of Ukraine and severe restrictions on the Russian economy will likely send the prices of staples like oil and food soaring. Without knowing how long the war will last, it's hard to know how high and for how long. Michael McKee,

Bloomberg Daybreak. All right, Mike, Thanks. There's also a major market event overseas. We get a policy decision from the European Central Bank this morning. Here with the details is Bloomberg's Hana George. Faced with the twin challenges of inflation and war on its border, the ECB may postpone it's timetable setting out and two trillions of euros of asset purchases That would mark another abrupt shift in the central

bank stance. Just last month, President Christine Lagarde turned more hawkish in the face of inflation that's almost three times the two percent target. The danger now is that the invasion and sanctions against Russia will curb Europe's rebound from the pandemic. In London, I'm Hannah George in book day Break, Right, Hannah, thank you, And corporate news this morning shares an Amazon or surging there up more than six and a half percent in early training after announcing plans for a twenty

one stock split began more from Bloomberg's Charlie Pillett. It's subject to a vote by shareholders, which is scheduled from May twenty five. The e Commerce Giants Board also approved a ten billion dollar share buy bank program. The repurchase authorization replaces a current five billion dollar plan approved in twenty six. The company previously split at stock three times in nine and nine. In New York. Charlie Bloomberg, daybreak, Okay, Charlie,

thank you. Right now. SMP futures are down thirty eight points down futures down three hundred seventeen and NASTAC futures are lower by a hundred sixty eight points. The tenure. Treasury is up five thirty seconds, the yield one point nine three percent. Straight ahead your latest local headlines and a check of sports. This is Bloomberg. It's down six oh seven on Wall Street. Foggy, thirty three degrees in Central Park. We had a couple issues now in the

New Jersey Turnpike between exits twelve and thirteen. 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. The first licenses to sell recreational pond in New York. We'll go to people who have a record. State officials said that people with marijuana related to convictions will get DIBs on the first one hundred two hundred retail cannabis licenses awarded by New York.

The state says it's part of a broader effort to address the inequities of a justice system that locked up a disproportionate number of people of her for drug crimes. Governor Kathy Hokel is set to announce the planned regulations for a social equity applicants today. Meanwhile, Governor Hokel showed her support for those suffering in Ukraine from the Russian invasion and inter faith ceremony was held at a Ukrainian Orthodox cathedral in New York City. Hoko was there and

said she was immersing herself in the community. When I look out in this room, yes, I hear the words of prayer on your lips, and those are powerful words, heartfelt words. But I also see tremendous pain in your eyes. Governor HOCl praise the defiance of the Ukrainian people in the face of Russia's invasion. South Korea's conservative president elect, Yune suk Yo, says he would solidify an alliance with the US, build up a powerful military, and sternly cope

with North Korean provocations. Hours after he won the country's hard fought election to become its next leader, Une spoke with President O Biden on the phone. The White House is reacting to a bill that would make it illegal in Florida to discuss sexual identity and orientation in some classrooms. It heads through the governor's nest for signing. The state Senate passed the measure despite days of protests and student walkouts. The bill's supporters claim it gives parents more of a

say in their children's education. White House Press Secretary Jan Saki, I think the most important question now is why are Florida leaders deciding they need to discriminate against kids who are members of the l g B t q I community. What prompts them to do that? Is it meanness? Is it wanting to make kids have more difficult times in school in their communities. President Biden has condemned the state measure, but back as a U. S. Senator, Biden reportedly supported

similar legislation in Congress. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan. Thanks Michael. Almost six ten on All Street time for the Bloomberg Sports up Take morning. Johns Sesshire, Thanks Nathan. What's going on with the Knicks? Since the seven game Wisian straight sixteen losses in the span of nineteen games, and Knicks

has suddenly one three in a row. They had going almost two months without winning two straight. Over their last six quarters, Knicks have outscored the opposition by sixty one points. It was easy in Dallas ball knock loose, trying to get it back dives quarter three. It's good Evan four date titleson the Knicks fifty five Dallas, twenty seven ep N. The call final was one oh seven seventy seven Nicks fifth grate win in Dallas. The Dallas native Julius Randall

scored twenty six. Mav shot only thirty one percent. They were six for forty four on three pointerers. They missed their first nineteen. At the Garden. St. John's beat De Paul ninety two to seventy three to advanced to play Villanova to night the Big East Tournament, Seaton Hall got by Georgetown fifty seven fifty three. The Hoyas never won the biggest game all season, Butler ups that Xavier and

over time. At the a CC Tournament, Syracuse blew out Florida State by thirty nine, but top score Buddy Bayhon throw a punch and the coach's sons suspended for today's game with Duke heartbreak for I own a one point lost. A writer at the mac Turney in Atlantic City of the Bronx wanted on a shot with seven seconds left, so there fourteen and eighteen. They advanced I own A at twenty five and six, will settle for the n

I T the baseball labor dispute. There's now said to be a new conflict whether the institute a draft for international players. It's not one thing, it's another. Still no deal lockout continues. The first four series of the season have now been cancer John Stationward Bloomburn Sports. They think all right, John, thank you right now. SMP futures are lower by forty points. South futures down three under twenty four,

Danisex futures down one seventy seven points. The tenure treasury is up seven thirty seconds, the yield one point nine. Nime X screwed up four hundred thirteen dollars twenty five cents of barrel. Latest on the war in Ukraine and diplomatic talks stalled with Bloomberg's Rosalind Mathison. Next, this is Bloomberg. Bloomberg day Break is brought to you by Audie. Don't let someone else drive off in the Audi model you've

always wanted. Visit your tri state area Audie dealer to get behind the wheel of yours today, or visit Autie offers dot com for more information, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quick Take. This is a Bloomberg business flash and I'm kerin Moscow. US dot index futures and European shares are falling him a concern.

US inflation accelerated for a six consecutive month. To check the markets every fifteen minutes throughout the trading day on Bloomberg s and P futures down thirty six points down, futures down two hundred eighty nine, NASDAG futures down one five the decks in Germany's down to in a third percent and your treasury up through thirty seconds at one point nine three percent, and they yield on the two

year one point six seven per set. NIM extra oil is at four point two percent at four dollars fifty three cents at a hundred thirteen dollars twenty three cents of barrel comics gold up nine tenths per cent or eighteen dollars seventy cents at two thousand six dollars ninety cents.

Announced the euro one point one zero four seven against the dollar, British found one point three one six two begains at one fifteen point nine seven, and bit coins down six eight percent at thirty nine thousand and fifty dollars. For Get a look at inflation this morning at eight thirty Wall Street Time at the consumer price and next we also get the weekly report on initial jobless claims and a headline on ge crossing. The Bloomberg gets reaffirming

its earnings outlook for the year. That's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Uncle Karen, thank you very much. Talks between the foreign ministers of Russia and Ukraine wrapped up on the sidelines of a diplomatic summit in Turkey with no progress. Russia conveyed it will continue attacks on Ukraine until demands are met. Meanwhile, the World Health Organization said it has confirmed eighteen attacks on medical facilities since the

Russian invasion began two weeks ago. Major League Baseball, that's cut another week of the upcoming season with a lockout in its day. The decision means the season won't begin until April fourteenth, at the earliest. In the NBA, the Knicks and Celtics won, the Wizards lost. In the NHL,

the Capitals lost in overtime to the Oilers. For three Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts in more than one D twenty countries. Michael Barr, This is Bloomberg nath Okay, Michael. Thanks, It's six nineteen on Wall Street Live from the Bloomberg Interactive

Broker Studios. This is Bloomberg Daybreak and Bloomberg's executive editor for International Government, Rosalind Matheson is with us as we continue trying to sort out some of the latest information when it comes to these talks that just ended in Turkey between the farm ministers of Russia and Ukraine. Ros, good morning. It sounds as though not much progress has been made in those types. Can you give us some details sort of flush things out for us. Well, that's right.

So this was the highest level conversation in person that's happened between Ukraine and Russia since the war broke out, and this was an attempt, particularly on the Ukraine side, at least to get some kind of formal agreement on temporary cease fires to allow people to leave certain areas of Ukraine that are under heavy attack. But even that didn't seem to come on the table. The Russian Foreign minister said he was actually not there to discuss any

kind of ceasefire at all. It's slightly unclear what he was in fact there to talk about, given there seemed to be no tangible takeaways from it, aside from both sides saying yeah, they're both realized that they can keep having a conversation going. If anything, it was an opportunity for Russia to repress its demands on Ukraine, saying it wants all its demands met in order for Ukraine to surrender and for Russia to pull its troops back out.

So possibly it was a meeting where they spent an hour and a half talking out each other rather than listening to each other. Certainly there's no sense of when a follow up meeting may happen. Uh and and right now we're back to square one. Wow, do we have any further clarity on what Russia's demands are? It sounded as though there might have been a little bit of wiggle room in the last couple of days about regime change at least in Ukraine. What are the demands from

Russia right now? So they have moved about a bit, but they seem to really involve the full demilitarization of Ukraine, the recognition by Ukraine that separatist areas inside Ukraine are in fight independent and that also would include Crimea from two thousand and fourteen, agreeing to what they would quote neutrality, which seems to be the Ukraine cannot make any further overtures towards Europe at NATA or the European Union, and

possibly the removal of the government. As you say, some officials have said that they don't intend to replaced the regime, but that contrast certainly with what with what the Russian president was saying in the early days after the invasion. He made it very clear he wanted that government gone. It sounds as though the diplomats are pretty far apart as well on what's happening on the ground in Ukraine.

We've seen the images come out of the besieged ports city of Mariopol, of hospitals coming under attack, reports of children and other civilians being killed in what sounds like indiscriminate attacks from Russia. At the same time, the Foreign Minister Sergei Lavrov is dismissing those reports, calling it fake news. What does that say about where these things are going? Well,

that's right. In fact, the Russian Foreign minister used the meeting today to say that Russia had not actually attacked Ukraine at all, so again sort of trying to reiterate um their point of view, and they were saying both today and yesterday that that shelling of a hospital in Mariopool, which is the besieged city in the eastern part of Ukraine, that that hospital had been empty at the time and was occupied not by by women and children and babies,

but by Ukraine forces and that's why it was shelled. Of course, Ukraine says that there were women and children in the hospital at the time and several were killed

or injured. So you're just seeing these accusations traded across the board, and that just makes it even harder to find a way to see how they can sit down at the table and have a proper conversation, a sober conversation that takes that emotion in some way out of it and allows them to find a way forward given the accusations that they seem to be slinging at each other. Still now last minute here rise. In the meantime, the US European allies are looking for ways to continue supporting Ukraine.

But it sounds like this idea from Poland of sending in its fighter jets and replacing them with US jets is a no goal. So where did things go from here in terms of the allied response to supporting Ukraine. Well, that's right, and in fact Poland was very anxious about the idea of sending any of its spider jets into Ukraine. It was under a lot of pressure publicly from Ukraine

to do so. So it's solution was to offer to send them somewhere else, to have NATO decide as a whole what to do with them, because it was concerned that if it's fighters went in, Russia would see that as a direct act of aggression. So you see NATO really kind of ringing itself in knots a bit about how they can support Ukraine but not get drawn in fully into a conflict directly. So that means no fly zone,

it means they won't send fighter jets in. They'll continue to send Member States military equipment in and they'll support from Afar, but a real sense of our needs about the possibility that somehow this conflict could write, could widen, and they could get caught up in it too. Thanks as always Rose, good having you on. Roslyn Matheson, our executive editor for International Government for Bloomberg News. Tracking all the latest developments, fast moving out of the war in Ukraine.

Looking ahead of the market open SMP futures are down thirty two points down futures down two hundred seventy six, dance that futures are lowered by a hundred forty one points in the tenure treasury is up five thirty seconds, the yield one point nine ahead of the release of the February Consumer Price Index. This is Bloomberg Bloomberg Daybreak, brought to you by the Jewish Communal Fund j c f's Donor advised fund is the smart choice to manage

your philanthropy, especially in times of crisis. Maker giving impactful visit j c F n y dot org. Broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg e Living free on to Washington, d C. Bloomberg nine nine one to Boston, Bloomberg one O six one to San Francisco, Bloomberg norm sixt to the country, Sirius XM to A one nine team, and around the globe the Bloomberg Business and Bloomberg Radio dot com. This is Bloomberg

Daybreak six thirty on Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow, and 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 Interactive Brokers. Interactive Brokers charges Martin loan rates from zero point seven five percent to one point five eight percent, rates subject to change. Learn more

at ib k R dot com. Slash compare up first to the latest on the war in Ukraine, air raids, sirens and Ukraine's capital Key This morning, as Russia's invasion enters its third week, Ukraine's President Vladimir Zelenski says he's willing to consider compromises, but won't seed territory. Well, we would. You must strengthen sanctions against Russia so that it never has the chance to continue this genocide. You need a pressure Russia, so that it sits at the negotiating table

and ends this barbarous war. Zelenski says he has not spoken to Vladimir Putin. Foreign ministers from Russia and Ukraine spoken Turkey today with no breakthrough, Moscow says it will continue its attack until demands are met. It's seeking surrender from Ukraine. Back in Washington, Karen, Congress is ramping up pressure on Moscow. The House pass to build a band oil imports from Russia. Bloomberg's Rnita Young joins US Live

Rnita Nathan. The US ban on Russian oil imports would go into effect forty five days after it's signed into law. The House legislation also takes steps to review Russia's access to the World Trade Organization, and it reauthorizes and strengthens the Magnitsky Act, which calls for sanctions on offenders of human rights. But the legislation does have a provision letting the President allow some products to be imported from Russia if they're in the national interests, but they'll be subject

to review by Congress Live in New York. I'm Gonnita Young, Bloomberg Daybreak, A right, Rinda, thank you at turning to Wall Street Today, it's all about inflation and the consumer price indexes they swected increase at a seven point nine percent annual rate, and Bloomberg's Vinnidale Juda says more red hot inflation. It's probably going to get worse as the war in Ukraine sends global food energy prices higher. Ukraine

is a major wheat exporter, Russia oil and gas. For now, what economists are saying US inflation could peak somewhere around eight percent or nine for sent perhaps in a month or two. Judace Bloomberg, daybreak right, Vinny, thank you. In overseas markets, the focus is on monetary policy. The European Central Bank decides on whether to raise interest rates and ease asset purchases. That strategy could be delayed as it navigates inflation and economic shocks from the war and back.

Here in the US, Nathan, for the first time in two decades, Amazon is splitting its stock. The company plans to boost its outstanding shares by a twenty to one ratio. It's also authorizing a ten billion dollar stock buy back. Amazon shares are up five and a half percent in early trading. That's the five things you need to know to start your day. Brought to you by Interactive Brokers. Thanks Karen sixty three now in Wall Street, thirty three, foggy degrees in Central Park, all sorts of problems on

the New Jersey Turnpike. Will get the details for you in traffic shortly. First, Michael Barr, what else is going on in New York and around the world. Thank you very much, Nathan. First hot sale permits in New York State will go to people with convictions. The state's going to award up to two hundred only of people who have been convicted of marijuana related crimes. Governor Kathy Hokel says it's an effort to address the inequities of a system which has locked up people of color for such

offenses at disproportionate rates and in her faith. Ceremony in support of Ukraine was held out of Ukrainian Orthodox Cathedral in New York City. Governor Hokel attended the event and praised the defiance of the Ukrainian people in the face of Russia's invasion. Ukrainians stand up, women grabbing weapons and going to the front line, some taking their children as safety, but others staying I'll stand with the men and will fight back. Governor Hokel said she was immersing herself in

the community. South Korea has elected a new president, Conservative Une Szukio defeated his rival in one of the country's most closely fought presidential elections. Une spoke with President Joe Biden shortly after his win. He takes office in May. Former astronaut Scott Kelly is upset with the head of Russia's space agency for threatening on social media to leave one of the American astronauts on the International Space Station behind when a Russian soy Use spacecraft departs the station

later this month. Kelly says he found the comments outrageous. The people at the Russian Space Agency, I've known many of them for well over two decades. I trust them. I've literally literally trusted them with my life before. Kelly also says the events of the past few weeks have taught us to prepare for the worst and hope for

the best. A federal lawsuit filed in Colorado claims a group of Donald Trump's supporters called the US Election Integrity Plan, has been sending its agents to people's homes in an effort to intimidate voters they are said to have sent agents, in some cases armed to voters homes, asking questions and taking pictures. Courtney hostedd Lary is one of the attorneys

on the suit. What it means is voters now have to be worried about, you know, whether or not voting is going to bring somebody dangerous to their dwarf attorney asked Adler say as the suit sites the Voting Rights Act and the ku Klux Klan Acts and its effort to stop the group. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists analysts more than a

hundred twenty countries. Michael Barr, this is Bloomberg. Nathan, thanks Michael, coming up to six thirty six on Wall Street and John Stashowers got the Bloomberg Sports Update all right, Nathan Nicks and joined Life on the Road. They had that heartbreaking loss in Phoenix when the Sun's banking a three pointer at the buzzer, but they beat the Clippers in l A. They came from twenty down at Sacramento and they cruised to an easy win in Dallas one oh

seven seventies seven. So After going nearly two months without two wins in a row, the Knicks has now won three straight. Julius Randall, coming off a career high forty six points this time, had twenty six at his hometown. R. J. Barrett added eighteen those in the games, that's all we're doing different, you know, because the past couple of games before that we always you know, are winning, would leave

and we will lose it. So the differences now. Randall called it the knicks best defensive effort of the season. They held the MAVs to thirty one percent shooting. Dallas was six of forty four on three pointers. Started over nineteen nixer in Memphis tomorrow, Nets and sixers tonight in Philadelphia. So the Nets face James Harden. Ben Simmons still not playing yet for his new team. He had refused to play for Philly. He will be there tonight sitting on

the Nets bench. Big East Tournament Garden St. John beat De Paul seventy free. Steaton Hall got by Georgetown fifty seven fifty three. Big upset at the Matt Tourney in Atlantic City, Rider top Diona seventy one seventy. The Gals had beaten the Bronx twice in the regular season, once by twenty six, but Rider advances in Iona will settle for the n I T. Colgate go into the n C Double as the second in a row. The baseball

lockout continues. Two more series canceled now wiped out as a Mets road trip in Philly and Washington and a Yankee homestand with Toronto and Boston. The earliest the season could begin is now four. John Stally movers Okay, John, thank you. At six thirty seven on Wall Street. Let's get more now. On this morning's Market Action, Bloomberg television anchor and markets reporter Danny Berger is with us this morning. So much for the relief rally, Danny, I know, really

running out of steam. I mean there there were a lot of questions yesterday should be said, whether you know there was any staying power to the rally, But we should say that this is a market that is trading based off of headlines, and that's what it really needs. It needs more positive headlines coming out of Ukraine, coming out of Russia, anything to alleviate some of the supply pressures,

anything that brings the price of oil down. And we just haven't had that today, So absent any positive news, this is what the market has been doing, just drifting downwards. Yeah, it does seem as though the warheadlines, all the developments there have pushed off what we thought would have been the catalysts a couple of weeks ago. Of course, central banks and inflation, Yeah, exactly, it's it's it's a strange

world where these types of things take a back seat. Now, the ECB decision, it will be really fascinating today because the ECB is in a very difficult position. Um, they're facing a crisis on their hands, in economic crisis of course, alongside the humanitarian one. Um, but what tools do they

have to ensure that economy stays stable? Inflation is shooting higher, um, And they've already are at they're already at an extremely accommodative stance considering Um, you know, we're only just starting to get out of the damage COVID did to the economy. So you know, what are they going to do? It's very unclear, but it will set the pace for other

central banks as they deal with this crisis. And of course, obviously we're gonna be looking ahead to the Fed on Wednesday and we get the CPI data just a couple of hours from now, Could that be a catalyst when we're expecting yet another historically high print for prices. I think that the expectation for high inflation in the U s is baked into the cave. Of course, there are people who see even more inflation. Um. There have been double digit estimates thrown out there, um. And so yeah,

we'll have these numbers today. But I have to say I think that most people already anticipating that they will be extremely high. And much like the ECB, isn't a difficult position. Certainly the said will be as well. Do they need to slam on the brakes? But we're doing so hamper US economic growth with all these supply constraints as well. Lots to keep on top of this morning

for Bloomberg television anchor and markets reporter Danny Burger. We get that ECB decision just a few minutes from now actually, and then of course the consumer price Index back here in the US for the month of February that's coming out at eight thirty Wall Street time. Lots to keep on top of ahead of the market open this morning,

looking ahead to that open, futures are moving lower. SMP futures down thirty eight points, down futures down three fourteen and NASTACK futures leading the declines right now down a hundred sixty eight points. The tenure Treasury now up six thirty seconds, the yield one nine and nime X screwed right now surging once again up four point two percent, four dollars fifty five cents at ady cents of barrel. Much more to come, including the house band on Russian oil.

Bloomberg Government's Jack Fitzpatrick joins us next, this is Bloomberg Bloomberg eleven three oh weather. We're looking for sunshine and hiding the upper forties today, mix of sun and clouds upper forties tomorrow, rainy, wendy, maybe some wet snow on Saturday, with temperatures falling through the afternoon. Right now, fog in

thirty three degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business at and at Bloomberg Quicktape is a Bloomberg Business Flash. And I'm para in Moscow and futures are lower this morning. Let's go to the first word breaking news desk for today's morning call. Here's film in a bill. Good morning and good morning, Karen. That's right, U S. Teachers are sinking right now as your train talks made no progress.

Deaf youture currently down three hundred four points has to be strop thirty seven nastac features lower by one. The US ten yeld at one point nine four percent. Gold and oil are both rising, but bitcoin is plunging by six point eight percent. Europan markets are also under pressure, led by three percent to clients in Italy and back

in the US. On the economic frontday thirty u S February CPI and initial javas claims after the Ballance night, crowd strike being estimates and Amazon announced twenty one split and a ten billion dollar buyback, and other news. Workers had three more Starbucks stores voted to unionize and wrapping things up. Croud strike was raised by a bt I

g KB home was raised to overweight over edge. JP Morgan live from the first Breaking news descomb Bill Maloney, care all right, Bill, thank you, and here live breaking news over here. Bloomberg type squawk on your termin I'll ascue you a w K. That's a Bloomberg business Flash. Now here's Michael Barr with more on what's going on around the Karen, thank you very much. Ukraine and Russia

made little progress in halting the war. At the first high level talks between their foreign ministers since the Russian invasion began, Russia indicated it will continue attacks until its goals are met. Russia and Ukraine's foreign ministers met in Turkey today. Meanwhile, the City Council of Marupol says a Russian air strike on a hospital kill three people, including a child. Major League Baseball has cut another week of

the upcoming season with a lockout and it's day. The decision means the season won't begin until April fourteenth at the earliest. In the NBA the next and Celtics won, the Wizards lost. In the NHL, the Capitals lost in overtime to the Oilers. For three Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven under journalist and analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg.

The following commentary is from Bloomberg Opinion Audiences. I'm Jonathan Instein, a calumnist for Bloomberg Opinion. Joe Biden's public statement announcing a US cut off of Russian oil was an excellent example of how multiple audiences complicate and constrain presidents. Start with Vladimir Putin, Biden's goal continues to be impressing on him how seriously the U S and its allies take Putin's aggression and how severe the consequences will be without

doing anything that risks enlarging the war. Biden's next audience of the Ukrainians. He wants them to keep fighting and feel strong support, even if he can't give them the unqualified assistance they want. And then there are NATO allies, friendly nations, other world leaders, as well as private companies and other non government actors, all of whom pay attention to what presidents say. Only after all of that can

Biden worry about audiences at home, including voters. For them, Biden's interest remains playing down the rush of Ukraine situation. His primary message for voters remains reassuring them that the United States is not at war and will not go to war, whatever else he's saying for others. I'm Jonathan Bernstein for more opinion Please go to Bloomberg dot com, Slash Opinion or Opia and go on the Bloomberg terminal.

These has been Bloomberg Opinion and Bloomberg Opinion commentaries can be heard every weekday at this time and terminal customers can read more at O P I N GO. It is six fifty on Wall Street. Less turned to news and science and technology now with the Bloomberg and j I T STEM Report, brought to you by the New Jersey Institute of Technology and j I T makes Infrastructure ready graduates from civil engineers to transportation specialists. If it's infrastructure,

n j I T grads are building it. More at n j I T dot e DU Now Here's US making news and science, Technology, Engineering, and math. President Biden has signed an executive order on government overside of cryptocurrency that urges the Federal Reserve to explore whether the Central Bank should jump in and create its own digital currency. The government says survey show that roughly sixteen percent of adult Americans, or forty million people, have invested in cryptocurrencies.

US Climate Envoy John Kerry says he thinks rich countries can finally meet their pledge to provide one hundred billion dollars annually to help poor nations cope with climate change beginning this year and will definitely reach that amount in three That would be at least two years later than the targets sent by developed countries at a UN Climate summit in Copenhagen in two thousand nine. And for the first time in more than two decades, Amazon is planning

to split its stock. The e commerce giant announced at twenty for one to split and at ten billion dollar share buy back. Tech giants such as Alphabet and Apple have used stock splits to make their shares more attractive to retail investors, and as a Bloomberg n j I t Stem report Nathan Okay, Karen, thank you. We are live from the Bloomberg Interactive Brokers studios where it's almost six fifty two on Wall Street time now to check

what's going on in DC. Very busy times in the nation's capital, the House has voted to ban Russian oil imports in it a bipartisan uproar over the war in Ukraine, lawmakers have passed to one and a half trillion dollars spending measure with Ukraine eight as well, and the US is considering looser economic restrictions on Venezuela. Let's bring in Bloomberg Government Congressional reporter Jack fitz Patrick, who has been very busy covering all these developments. Jack, good morning. Let's

start with the Russian oil band. Seems like that's at least one thing that lawmakers can find bipartisan agreement around. Yeah, that had a lot of bipartisan support. It did get watered down a little bit. This essentially follows the track that President Biden has already chosen to take his He was pushed by Congress to take this path to cut off any imports of Russian oil, gas, and coal. Uh.

It doesn't add much else. Besides that, there appeared to be bipartisans support for a measure to uh end Russia's normal trade status, effectively allowing more tariffs on Russia that ended up getting pulled out at the request of the White House. So it's not entirely clear where this goes in the Senate because there is support for this kind of bill, but it doesn't really push anything much further. Uh So we haven't heard when it would get a

Senate vote exactly. It is by artisan but it really has been mirrored by President Biden's own actions in his own right. Have we got any more clarity from the White House on why they didn't want that normal trade status provision included, not specifically. They played that pretty quietly. Our colleagues have reported that that was taken out at the request of the White House, but they, uh, you know, I have have not really laid out their reasoning exactly.

I think the broader context is they have tried to keep some options on the table. They haven't argued outright against the idea of more sanctions on Russia, but when Congress has sought to push them to do more, the White House has often sort of gone back and said, let's leave ourselves some options, possibly adding some in the future, depending on exactly how this plays out over the next month or more. And it certainly looks as though Congress

hasn't closed the door on further aid to Ukraine. Well, let's talk about this big spending bill that finally got past out of the House. It includes a lot more Ukraine aid than even the White House have been asking for. Yeah, the the conversation initially was for I think six point four billion was the first request for Ukraine aid it went up to ten billion. Then the House just passed thirteen point six billion UH in this supplemental Ukraine bill

along with the broader government funding bill. About half of that almost half, about a six and a half billion, goes to d O D, largely to refill their coffers for things they've already done to help Ukraine. But there are there's a few billion dollars for humanitarian needs UH and members we've talked to, including Chris Murphy and the Senate have already said, you know, this could be more of a down payment. We could actually see more bills in the future, either on the defense side and or

the humanitarian side for Ukraine. Finally, Jack, what more are we hearing about this potential faugh in relations between the US and Venezuela. We know there was that surprise meeting over the week end with Biden administration officials in Venezuela.

What's what's come out of that? Yes, our colleague Jordan Fabian has has reported, citing an administration official, that that conversation did occur and that really the focus was that if the US is going to relax economic pressure and if there's going to be especially imports of Venezuelan oil to the US. They're waiting to see how conversations between

Nicholas Maduro and his political opposition go. So this is essentially seems to be a message from the White House, uh that they want to see uh some democratic reforms or movement toward democracy before really opening up a real economic relationship between the US and Venezuela. I certainly would be a big shift in foreign policy. Okay, Jack, thanks

as always. That's Bloomberg Government congressional reporter Jack Fitzpatrick. Read much more about all these stories at Bloomberg dot com or on the Bloomberg terminal, and listen to Bloomberg Radio in Washington Bomberg and one oh five point seven fm h D two Karen Allry, Nathan, thank you at at six fifty six on Wall Street. And this is Bloomberg Daybreak. March as Women's History Month, and every day this month

we are celebrating significant moments in women's history. Now at your installment for March tenth, here's Bloomberg shre eight a young on this day in women's history. In twenty fifteen, Los Angeles celebrates Susan An Cutty Day. She's the first Asian American woman to join the U. S. Navy and its first female Gunneryofficer. Cutty rose to the rank of lieutenant. She later worked for U. S. Naval Intelligence, the Library

of Congress, and the National Security Agency. Cutty is also the daughter of the first married Korean couple to immigrate to the US. She served during World War Two. During the first celebration of Susann Cutty Day, she was one hundred years old, she said when the war came, she was motivated to fight for freedom, and it didn't matter

whether she was Asian or not. During her service, Cutty had to endure segregation and racism and had to marry her Irish American husband on a naval base because interracial marriages were against the law at the time in Virginia.

That's to day in women's history. I'm RENI to young Bloomberg radio, all right, Reny to thank you, and again General Electric reiterating it's twenty two financial targets that include generating as much as six and a half billion dollars in free cash flow, even as Russia's invasion at Ukraine has plunge global markets into uncertainty. And we'll get much more on General Electric this afternoon when we speak to

Chief executive Larry Coulp. You can hear that interview today on Bloomberg Television and radio at twelve thirty Wall Street time. Bloomberg Surveillance is straight ahead for Nathan Hagar. I'm Karen Moscow, and this is Bloomberg