Bloomberg Daybreak: March 18, 2022 - Hour 2 (Radio)

Former New York Governor Clomo says he's opened to running for his old job. Plus, Sarah Palin is appealing or loss in the defamation suit against The New York Times' Michael Laaren. More ahead, I'm John stag Daron sports Islanders, stopped the Rangers at the Garden and St. Peter's stunned Kentucky in the n C Double Day Tournament. That's all

straight ahead on Bloomberg day Break on Bloomberg. You live in Trio, New York, Bloomberg one, Washington, d C, Bloomberg one O six one, Boston, Bloomberg nine sixties, San Francisco. Sirius x M one nineteen and around the world old on Bloomberg Radio dot com and via the Bloomberg Business. Good morning. I'm Nathan Hager and I'm Karen Moscow, and we are coming up to six oh one on Wall Street. Futures are lower this morning, and we checked the markets

every fifteen minutes throughout the trading day. On Bloomberg. Right now, SNP futures are down twenty five points down, futures down one sixty seven and NAS day features down to the tenure Treasury at five thirty seconds yield two point one five percent, the yield down the two year one point

nine zero percent. Nine next screwed oil of one point two percent of a dollar twenty nine and a hundred four dollars twenty seven cents of barrel Comic school is down a half percent or ten dollars twenty cents at ninety eight announced and the euro one point one zero five eight against the dollar. Nathan, all right, Karen, we'll have more of the markets in a minute. But this could be a pivotal day in Russia's war with Ukraine.

In just a few hours, President Biden holds his first call in months with one of Vladimir Putin's closest allies, Chinese president she j in Ping. It comes as Russia's forces appear bogged down outside Ukraine's capital city, Kiev. We get more from Bloomberg's Amy Morris in our newsroom in Washington. While the UK Ministry of Defense believes Russia's invasion has stalled on all fronts, that has not stopped the intense battles and shelling around schools, hospitals, and residential areas, leading

US officials to believe war crimes have been committed. Now, President Biden meets today with China President shi Jinping. Secretary of State Anthony B. Lincoln says Biden will issue a warning to Beijing that helping Russia will have consequences. We believe China in particular has a responsibility to use its influence with President Putin and to defend the international rules and principles that it professes to support. Instead, it appears

that China is moving in the opposite direction. This as the Pentagon warns Russia may threaten to use nuclear weapons if their invasion of Ukraine is stalled. In Washington, I'm Mayne Morris, Bloomberg Daybreak Right, Amy thank you, stiff defense from Ukraine and economic sanctions race, speculation of a new clear threats from Russia. Former Secretary of Defense and CIA Director of Leon Panetta says diplomatic talks won't be enough to deter Putin. Panetta said the U s should continue

to arm Ukraine as Putin doubles down. This is a power game. Putin understands power. He really doesn't understand diplomacy very much. He understands power. And the only way to convince Putin that this is not going anywhere and that he should take some kind of off ramp is to continue to beat him on the battlefield. Former Defense Secretary Leon Panetta at the comments on Bloomberg's Balance of Power with David Weston. Catch the program weekdays at noon Wall

Street Time on both Bloomberg Radio and television. The cost of ensuring Russian debt against default has dropped. This morning, Karen Bloomberg, Noose has learned that funds earmarks for interest payments on the Russian government's dollar notes were sent to the payment agent. Sources say JP Morgan Chase process the funds and sent the money on the city group that

is Spring Optimism. The bonds may be settled in dollars. Well, Nathan, if the war and a FED right hike we're not enough for stairs to handle, there could be more volatility than usual today and we get the latest live with Bloomberge John Tucker, John Karen is the quarterly event known as triple witching. Single stock and index level options are set to expire today. At the same time, more near the money options are maturing than at any time since.

If that's not enough, there's a rebalancing of benchmark indexes, a combination that tends to spark single day volumes that rank among the highest of the year. Lorie Camvassin ahead of US Equity Strategy at RBC Capital Markets is the wild swings won't end here. I think that volatility is likely to stay elevated for quite some time. We like

balanced portfolios between growth and value. We do think that growth stocks are ultimately going to recover, but we think that's going to be because markets are going to continue to price in nervousness and what high quality exposure. That's Lori Calvasina at RBC. The rebalance of the index alone could lead to thirty three billion dollars of stock trades in today's session Live to New York. I'm John Tucker, Boomberg Daybreak. All right John, thanks. This is also another

day of all utility in nickel trading in London. Let's go there live and get the latest from Bloomberg's You Win Parts. Good morning you, Good morning Athan and Karen. Yet another glitchy open for the nickel market today as the price continues it's to treat from an unprecedented short squeeze. Last week, Nickel dropped by the maximum allowed for a third straight day, Nickel tumbling twelve percent to the daily limits, a limit which has only just been increased from eight

percent in the previous session. Frustrating Friday, after a frustrating week for the London Metal Exchange. They'll be very pleased that tomorrow is Saturday, Live in London. I'm you and Portsmoon mid daybreak. Alright you and thank you all. Beck you're in the US. And Corporate News General Electric Slash CEO Larry Cops pay package by ten million dollars a year. It's a surprise move in response to last year's rebuked by shareholders. Cops total target compensation went from about twenty

one million to eleven million dollars. All right, let's take a look at some stocks moving in early trading. Carreen shares a fed extra, down about four percent this morning. The delivery company posted quarterly profit below analyst estimates. Rising costs related to a US labor shortage and lower than expected package volume, dragged on gains from pricing increases. Shares of Game stopp are down now more than seven percent.

That company reported a surprise loss during the holiday quarter. Well, turning to the pandemic now, Nathan Madonna is asking for US government approval for a fourth COVID shot for adults, so we get the latest Live or a Bloomberg's real need a young good morning, Ready down, Good morning Karen. This would cover significantly more people than Fiser's earlier request for emergency authorization for fourth shot, which was for those

over sixty five years old. And right now there's a heated debate over how long vaccines protect from infection and whether repeated shots are necessary to prevent severe disease and death. Meantime, Dr Anthony Fauci says the US could see COVID nineteen cases rise again and vulnerable people would likely need a fourth dose. Live in New York I'm really need a young Bloomberg daybreak. I ren need a thanks right now as some p few cheers are down twenty two point.

Staff futures down a hundred fifty six, and nastac futures they're lower by seventy one points. The tenure treasury right now is up six thirty seconds, the yield two point one four per cent. Straight ahead, we have your latest local headlines, plus a check of sports. This is Bloomberg that brings us to six oh seven on Wall Street, fifty one degrees in Central Park. Pretty bad accident on northbound FDR Drive at seventy street. Tails coming up in traffic.

First Michael Barr with more on what's going on in New York and around the world. Morning Michael, Good morning, Nathan. New York Governor Kathy Oakel says that state agencies and public authorities will stop doing business with companies that have continued to do business with Russia. Hocal previously signed and executive order banning state agencies from doing business with Russian companies.

Locals spoken Younger's where now, We're going to prohibit any state agencies and authorities from contracted with any entities that are still doing business in Russia. Governor Hocal also said New York will also send one hundred thousand pounds of medical supplies, including masks and gowns, to Ukraine. Andrew Cuomo says he's opened to running for New York governor again

and would consider creating his own political party to do so. Cuomo, a Democrat who resigned in August and in a sexual harassment scandal, delivered his second public address in as many weeks, this time to a group of clergy in the Bronx. New details are emerging about the driver of a pickup truck that slammed into a college golf team van in West Texas, killing nine people. According to the NTSP, it was the failure of the left front tire of the pickup.

In TSB vice chair Bruce Landsburgh says as for the driver of the pickup, a thirteen year old child was behind the wheel of the pickup truck. The NTSB s Bruce Landsburg says the spared tire failed on the pickup at seventy five that resulted in the truck veering into the golf team bus. At least five people died and several were injured. In chain reaction crashes involving dozens of vehicles on an interstate in southeast Missouri. Police say thick fog led to the crash, about one fifty miles south

of St. Louis. Forecasters say the multi year mega drought that's drained western US reservoirs and parched crop lands across California show no signs of easing. The National Oceanic and Atmosphereic Administration says the region faces another spring and summer of dwindling water resources and rising temperatures. Sarah Palin is appealing her loss and the defamation suit she filed against The New York Times. Palin says she was denied a fair trial the former Alaska governor suit over an opinion

piece that linked her to a deadly shooting. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than one d twenty countries. Michael Barr and this is Bloomberg, Nathan. Thanks Michael six O nine on Wall Street Time for the Bloomberg Sports Update. Here's John's Stann shower. Thanks Nathan. They're celebrating in Jersey City. A couple of

months ago. St. Peter's record was three and six losses to l i U and Stony Brook lost in St. John's by twenty one. And yet the Peacocks able to win their conference Turney gain entry to the n c Double A Tournament, where they pulled off a huge first round stunner, beating might In Kentucky eighty five seventy nine in overtime, only the tenth time ever a fifteen seed has beaten a two Darrow Banks to twenty seven points.

You know, uh playing basketball and you grow up watching college basketball and college basketball in the Marsh Madness Tournament. So just letting that sink in, knowing that the game is over. We got it. Just a really good first n c A win in school history and the third ever for the Metro Atlantic Conference. Biggest upset today not the only one. Twelfth seeded New Mexico State knocked off

Yukon and Richmond upset Iowa. Since seeding began in nineteen seventy nine, Richmond has won nine times as a twelve seeder lower. No other school has done up more than four times. At the Garden Islanders on a Kyle Palmary goal beat the Rangers to the one, the Ranger go all the forty the year for Chris Crider or twenty

one of those have been on the power Play. Giants have released veteran safety Logan Ryan Big NFL trade that made Last Night Green Day since Star Wives and seeber Davante Adams to Las Vegas for first and second round draft picks, and Adams has agreed to a new five year contact with the Raiders. Brown's quarterback Baker Mayfield has requested a trade upset that Cleveland showed interest in acquiring to Shaun Watson, who is expected to be dealt by Houston,

but to either Atlanta or New Orleans. Nixon Nets have home games tonight and the Yankees play this afternoon. They take on the Pirates and Breton team John Dash Dower Bloomberg Sports Nathan all Right, John thanks SMP futures now down twenty one point Stole futures down a hundred forty four Nance A futures are lower by seventy three points. The ten year treasury is up six thirty seconds. The yield two point two year yield one point nine zero.

Niam X screwed up one pot up a dollar twenty two at a hundred four dollars twenty cents of barrel, Awaiting the call between Presidents Biden and she on the war in Ukraine. Will check again with Bloomberg's Maria Sadeo to the European perspective out of Brussels and Bloomberg. Daybreak is brought to you by the Jewish Communal Fund j c f's Down Advice Fund is the smart choice to manage a 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 Quicktape's a Bloomberg Business Flash and I'm Karen Moscow.

Usock Index futures lower this morning along with European shares as traders way mixed signals from the peace dogs between Russia and Ukraine, embrace revolatility from expiring options, and we check the markets every fifteen minutes throughout the trading day on Bloomberg S and P futures down twenty eight points down. Futures down a hundred eighty six nasdack futures down ninety

four the decks in Germany's down one percent. Ten year treasury up six thirty seconds, held two point one four percent yield on the two year one point eight nine percent. NIMEX screwed oil is at one point six percent, up a dollar sixty at a hundred four dollars fifty seven cents a barrel. Comic school there's down four ten percent or eight dollars sixty cents at nineteen thirty nine sixty and ounce. The euro on point one zero five six against the dollar, and bitcoin is at forty thou five

hundred eighty five dollars. As a Bloomberg business flash. Now here's Michael bar with more on what's going on around the world. Michael, thank you very much. Karen. World leaders called for an investigation of Russia's repeat attacks on civilian targets in Ukraine. Meanwhile, rescue workers search for survivors and the ruins of a theater that was serving as a shelter in Meruple. Today, President Bye will meet with Chinese

President shi Jing Ping. Top seeds Gonzaga Baylor in Kansas have advanced in the second round of the n C Double A men's basketball tournament on a day a number two seed was dispatched fifteen seed at st Eaters Peacocks. See US now beat Kentucky seventy nine in overtime. In the NHL, the Islanders beat the Rangers, who won the Capitol's one Global News twenty four hours a day on air and on Bloomberg Quick Take Power by more than seven hundred journalists analysts more than a d twenty countries.

Michael Barr, This is Bloomberg Na. Okay, Michael, Thanks at six nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak and Maria today, ol Bloomberg correspondent is back with us from Brussels this morning as we await this call in just a few hours between Presidents Biden and She of China. Obviously Maria, the US president is trying to pressure China to use its influence on Russia as this grinding war with Ukraine continues

from the European perspective. How important is this call scene Well, and it's very important because at this point of course, China is one of the big geo political agents UH in the world, and we've talked about four years now about this new access the dragon bear. This is Russia and China foreign policy coming together to potentially pose a threat and be a arrival to the Western almost rules based values uh democracies. When you look at Ukraine at

this point, this is exacerbated by the conflict. So to me is very clear that both the United States but also the European Union want to know what China's position in this. Are they going to be helping Russia in in any way and of course I mean financially, but potentially even with military weapons and gear. And then three, if they get an indication that that is going to be the case, well I would argue we're probably entering into a new phase of sanctions between the two sides.

Meaning the United States has made it clear if there is an indication that anyone or any country tries to bypass Western sanctions on Russia, they will also pay a penalty. When you speak to the Europeans, they say the same thing. If you try to do something that derails everything that we've put in place to end this war machine by Vladimir Putting or help him get a lifeline to continue his invasion, that you're going to have to pay a

price too. Even as the war has been going on, there've been nearly daily discussions negotiations between Ukrainian and Russian diplomats. Is this call between President Biden and President she seen as having any influence on the discussions going on at the diplomatic level between Russian and Ukraine. No. I think we have to look at them as separate things and and different units here. One of course, is the conversations

between Russia and Ukraine. This is very much about the future and and it's about the peace deal, and it's potentially a diplomatic way forward. Now, if you ask me today, is there a diplomatic way forward between Russia and Ukraine. I've really struggled to see one. When I speak to Ukrainians, Uh, they almost present this as an existential question for them. They really struggled to see how after twenty three days of heavy bombing and selling, they can go back to

anything that looks like a normal relationship with Russia. And and they really struggle to see how they can coexist with Vladimir Putin still in power. When you look at China, what they fear is that at a time in which Ukraine continues to defend its territory and it's major cities. And remember the Russians have not been able to capture any of the big goals. This is day twenty three of the war. Is costing a lot of money for the Russian Federation, but they haven't been able to get

to the military goals that they wanted. We see big fights in keep the capital, we see big fights in Mariupo. This is in the south. It cannots Crimea to the dom Bass. But Russia has not made this quick, easy grade glory invasion that they promised. Remember they said three or four days, we're gonna get this done. Now it's

turning into almost a month long invasion. So with the Ukrainians, worry is that at a time in which they feel they can inflict damage on the Russians, the China is gonna come in to help them with financial means and military means and military weapons, and that's when it could get complicated for Ukrainians. Of course, they have a big interest and that not happening. We've gotten reports as well that Russian President Putin has been speaking today with German

Chancellor all Off Shultz. Can you get us up to speed on what we know about those conversations. Look, what we know is that Vladimir Putin has said the talks are stalled now and they're not moving ahead quickly because the Ukrainians are delaying the whole thing. They need to get real, they need a reality check and know that some of the conditions that they put on the table are simply not acceptable. If they don't do that, we're

not going to move forward. But you also have to see this from the Ukrainian psyche and their mentality, and what they argue is we don't trust Russia and we don't ust Vladimir Pudding. And if you look at everything that Russia has said until now, it's been proven false. They said there would be no invasion, there was an invasion. They say Belarus is not helping Russia and this war. They clearly are. So we're not going to get serious about any future deal until and as long there's no ceasefire.

So for them, the ceasefire is a precondition between the real talks begin. So again, going back to the earlier point, it's very difficult to see what a diplomatic we forward looks like if the war doesn't end on the military front. First, and that's why, of course you're seeing that the two sides are not looking or speaking. I do I the other things, just very briefly, I would know it is that to me, this looks like we're at a stage in which both sides are trying to almost build up

leverage for the real talks to begin. Bloomberg's Maria Today. Oh, as always, thanks for the perspective area today with us this morning from Brussels, as we await that call in just a few hours. It's set for nine am Wall Street time between President Biden of the US and Chinese President shi Jin Pain, looking for more clarity on China's position when it comes to this ongoing war in Ukraine.

Now into day three. Right now, SMP futures down twenty seven point, staff futures down a hundred eighty six nanstack futures are lowered by eighty seven points. The tenure treasury is up six thirty seconds. Right now, the yield two point one four ent on the benchmark tenure US Treasury. This is Bloomberg Bloomberg eleven three oh. Weather clouds, patchy fog will give way to sunshine and the high in your seventy today periods of rain to start the weekend.

Saturday highs in the low sixties, upper fifties, partly sunny by Sunday. Right now fifty one in Central Park, broadcasting live from the Bloomberg Interacted Broker Studio in New York, Bloomberg Living Freedom to Washington, d C. Bloomberg to Boston, Bloomberg one A six one to San Francisco, Bloomberg N sixty to the Country Sirius XM to the one ninet and around the globe to the Bloomberg Business at and Bloomberg Radio dot com. This is Bloomberg Daybreak put. It's

six thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Cameron Moscow, and we're just about three hours away from the open of US trading. It's time for the five things you need to notice. Start your day. To you by Interactive Broker Simple ibk our Global Trader app, deposit in your local currency and trade stocks in the US, Europe and Asia. Start your free trial and ib gr

dot com slash Global Trader at first. Russia's invasion continues as missiles struck western Ukraine in regions close to the border of Poland. According to new Pentagon intelligence, Russian President Vladimir Putin may soon levy nuclear threats against the West. Well back in Washington, Karen, President Biden a schedule to speak with China's President she Jin ping about the war.

Bloomberg Sad Baxter has the latest. The White House is saying it gives President Biden a chance to really assess where President She stands and to step up pressure for him to cooperate. Spokes on when John Sake, saying it will give she a chance to denounce the Russian invasion.

This flies in the face, of course, of everything China stands for, including the basic principles of the UN Charter, including the basic principles of respect for sovereignty of nations, and sources of Bloomberg say the White House is concerned that China's muted response maybe sign that it may be moving closer to supporting Moscow. It says this meeting will tell that story. In San Francisco, I'm at Bachelor Bloomberg Day Break. All right, and thank you well. On Wall

Street Financial Markets expect fireworks today. On Bloomberg's John Tucker joins US Live to explain. John Karen three and a half trillion dollars of single stock and index level options are set to expire today. At the same time, more near the money options are maturing than at any time since it's triple witching Friday, and as coincides with a rebalancing of benchmark indexes. And this is a combination that tends to spark single day volumes that rank among the

highest of the year. Now watch today if investors rebuild their holdings of protective puts or chase the market rebound with call contracts. That all ends up to a lot of volatility. Live in New York on John Tucker Bloomberg Daybreak. Well ahead of all that, John, futures are falling in. Oil is back above a hundred dollars of barrel. Right now, West Texas Intermediate Crewed is trading in a hundred four

dollars thirty six cents. Well, turning to the pandemic now, Nathan Madonna is asking for US government approval for a fourth COVID shot for adults, and we get the latest lie from Bloomberg's rind to Young. Good morning, Renida, Good morning, Karen. Maderna's request would cover significantly more people than viser's request. For emergency authorization for a fourth shot. It was for

those over sixty five years old. And right now there's a debate over how long vaccines protect from infection and whether the repeated shots are necessary to prevent severe disease and death. Live in New York. I'm gonna need to Young Bloomberg daybreak, all right, we need to thank you. That's the five things you need to notice start your day. Brought to you by Interactive Brokers, and right now at six thirty three on Wall Street, fifty one degrees in

Center Park. Things improving after an earlier accident on the northbound FDR Drive. Will get the latest in traffic shortly. First, Michael Barr, what else is going on in New York and around the world this morning? Thank you very much, Nathan.

New York Governor Kathy ocl says that state agencies and public authorities will cease business with companies that have continued to do business with Russia, the Democratic having her previously signed an executive order banning state agencies from doing business with Russian companies. So this is not just directly with Russian companies, it is with companies American companies that are continuing to do business in Russia in light of what's happening.

So that is the message that we're delivering to our state agencies. Governor Hokele, speaking in Yonkers, also says New York will send one hundred thousand pounds of medical supplies, including masks and gowns, to Ukraine. Former New York Governor Andrew Cuomo is dangling the possibility he may run for his former job. Just six months after he resigned amid sexual harassment allegations. Cromo gave a campaign style speech to a friendly audience of about a hundred people in the Bronx.

Asked afterwards if he would run for office, Cuomo told reporters he is open to all options. Former Alaska Governor Sarah Palin is appealing her loss in the defamation suit she filed against The New York Times. She sued The Times and former opinion page editor James Bennett in t seventeen over a pe mistakenly linking her to a deadly shooting. Bilan claimed the errors were driven by bias against her.

Investigators are learning more about Tuesday night's deadly collision of a pickup truck and a van carrying New Mexico college students and a golf coach. The NTSB says the driver of the pickup truck was only thirteen years old. He was behind the wheel driving down the two lane road, and TSB Vice chair Bruce Landsburg the left front tire, which was a spare tire, had failed, which resulted in the vehicle pulling hard to the left and crossing into

the opposing lane. The pickup went head on into the van carrying the golf team, killing seven inside both people in the pickup who were also killed. A pile up on the Missouri Interstate left at least five people dead. The crashes involved at least twenty eight tractor trailers and numerous smaller vehicles and Interstate fifty seven in southeast Missouri. The fog shout at thirteen mile Stretch was closed for hours. If you find yourself napping more often, a news doud,

he suggested, maybe a troubling sign. While napping is a normal part of getting older, the study found it may also signal and elevated risk for Alzheimer's disease. The study is in Alzheimer's and Dementia, The Journal of Alzheimer's Association, 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 Bard, this is Bloomberg, Nathan. They've got to rethink every day.

Thank you, Michael. Just about six thirty six on Wall Street, John Stash hours here at the Bloomberg Sports Day, All right, Nathan, truly a David versus Goliath type upset. And in Indiana that's what the movie hoods. Still we played Jed Kentucky State School, thirty two students, winners of eight n C Double A tournaments. He had St. Peter's of tiny Jesuit School in Jersey City and never won an n C

Double A game. And yet the Peacocks right there with the Wildcats all night and they want it in overtime. Eighty five seventy nine. A coach of the Peacocks, Holloway. Every team that made it to nan a Torment RP the year, Every team that made to NAC del Torments think they take advance. You know this, like you just have to be good on this night. It's not about your records, not about what school you at is who who's ever good on that night and tonight you know

it was on night. Holloway makes about two and fifty thousand dollars and he just beat John Calipari, who makes eight million. In fact, Calipari has four assistance that make more money than Holloway. Tenth time A fifteen seeds beating the two. One of three overtime games. Just last night, Murray State apt by San Francisco. Creighton trailed for about fifty forty minutes and rally past San Diego State. Twelve seeded New Mexico State upset Yukon, twelve seeded Richmond upset Iowa.

Even Gonzaga, the attorney's top overall seed, at a struggle at Georgia State, by only four with ten minutes left. Gonzaga then went on a to one run. The last of the first round games is late tonight in San Diego, Seaton Hall against TCU at the Garden Islanders staff the Rangers to the one in the Kyle Paul mary Go, Chris cried or scored the Ranger go his forty only

one NHL player has more added. Rogers decided to keep playing in Green Bay, but he won't have his best weapon to throat through the patterns of trade and Star wide out Davante Adam to Las Vegas for first and second round draft picks. John Stashal I wear Bloomberg Sports. Thanks John. At six thirty seven on Wall Street, time to take a look at stock some of the names moving in the pre market on this triple witching Friday.

We're joined by Bloomberg Radio and TV Markets corresponded Crety, Guta, Credy. Good morning. What's got your eye? Well, good morning, Nathan. We are going to see triple witching. So you are going to see some volatility, perhaps no clear direction in the market today, just given all the moves, especially ahead of the weekend. But there are some earning stories that are coming out and there are already moving the market

before this the stock market actually opens. And let's start off here with some of those economically sensitive stocks, especially the ones that sent to indicate what the broader economy is doing, and by that I mean FedEx. Of course, remember when UPS and FedEx were supposed to be these big kind of indicators of what the economy was doing. Well, this time might might not be so great. Fd X, as your takers dropping two percent after reporting results that

weren't so great. Morgan Stanley saying that the magnitude of the misses in the U. S. Company's express and ground units maybe quote jarring for investors, and that's very much a macro story. To Nathan, speaking of macro, we sho talk about commodities because there's really no shortage of that talk recently, is there at all? So we never talked about U S. Steel. Dewey, the ticker is just the letter X minus is down two point two percent. Exees me.

It's slumping once again on a weaker forecast. But City Group actually a little more optimistic. They're saying the US sits in the middle of massive steel inflation spreading out into Europe, and those steel prices, well, they might fall in China, but Europe is more relevant in our view. So we do see perhaps some of the forecast coming down from U S. Steel, but they're saying keep an

eye on Europe. That's really where you might see a some of that pickup show up on top of the macro, on top of all the gyrations around the war in Ukraine. There may be a little bit of movement around COVID as well. Because we're following this news of Maderna looking for approval for a fourth shot. Is that taking the stock any It absolutely is up one point four percent of the journal shares. M r n A is your taker, And to your point, they're requesting FDA clearance to base

for that fourth COVID shot for adults. And remember, if they get this, this will actually help them get more market share over Visor's candidate as well. And that's a really big deal when it comes to just kind of the ongoing momentum for some of these companies that have really exploded during COVID. I'm gonna end here with a meme stock had to do it. Game Stock g m E is your ticker, reporting quarterly losses that were wider than expected, baired though saying that the video game retailer's

margins were quote significantly below expectations. Taking a bit of a hit this morning. G M is your taker, down eight percent, Nathan, not really acting like a meme stock, But there you go, you bring back fundamentals. There it is LIVERG Radio TV Markets correspondent Creedy Gupta. As always, thanks for the pre market update and as we take a look at stocks as a whole ahead of the open,

on triple witching Friday. They're moving lower. SMP futures down point, Staff futures down a hundred, have any six and Nasdaq futures are on the decline by eighty six points. The tenure Treasury right now is up eight thirty seconds, the yield two point one. Let's talk about commodities again, and I'm x screwed up one point one at a hundred

four dollars nine cents of barrel. You're listening to Bloomberg tape right Good morning, Bloomberg eleven three oh weather, some clouds a patche five, but they'll give away to sunshine today in a high ner seventy degrees, will be rainy tomorrow though, low sixties, turning partly sunny again. Upper fifties though for Sunday. Right now fifty one in Central Park Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, at the Bloomberg Business app, and at

Bloomberg Quick Tape. He's a Bloomberg Business lash and I'm Karen Moscow. You watch stock index futures are lower this morning. We get to the first word breaking news dance for today's morning call. And here's Bill Maloney, Bill, good morning, and good morning, Karen. That's right. U s features are in the red right now at down futures down a hundred two points, s SP Shop thirty NASDAK futures are lower by a hundred. The US ten year old at two point one four percent, Gold is down eight Oil

is climbing, but Bitcoin is trading little changed. Shanghai rose one point one percent overnight, while up of markets are in the red this morning and back in the US on the economic front, at ten o'clock, existing home sales after de Bellos night, FedEx CPS missed estimates, GameStop reported is down eight percent, PREMRKET and US Steel cut its guidance and other news. Russia's credit rating was again cut by S and P, and Moderna asked the FDA to

clear a second booster shot for all adults. Wrapping things up. TransUnion was cut to neutral. Over at Goldman Sachs Live from the First Breaking News Desk on Bill Maloney, Karen, all right, Bill, thank you to hear live breaking news of her Bloomberg type squawk on your turbine. I'll escue you a w K and that's a Bloomberg business flash now here's Michael bar with more on what's going on

around the world. Michael Karen, thank you very much. Russian forces are pressing their assault on Ukrainian cities, striking on the outskirts of the capital Kiev and the western city of Leviv. Rescue workers are still searching for survivors in the ruins of a theater that was serving as a shelter in the besiege southern city of Maryupol. President Joe Biden will talk on the phone with Chinese President Shi Jing Ping today. Biden hopes Beijing will ranchet up pressure

on Moscow to end its war in Ukraine. In the n C Double Amn's Basketball Tournament St. Peter's As Proud as a Peacock, the Jersey City team, ranked fifteen, beat number two seed Kentucky eight five seventy nine in overtime. Top seeds Gonzaga, Baylor, and Kansas advanced to the second round. In the NHL, the Islanders beat the Rangers to one.

The Capitals One Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalist and analyst more than a hundred twenty countries. I'm Michael Barr. This is Bloomberg. Karen al right,

Michael Barr, thank you. At six forty nine on Wall Street, and we turned to news and science and Technology Now with a Bloomberg n j I T STEM report brought to you by New Jersey Institute of Technology ranked in the top two percent nationally for alumni mid career earnings and number one in the nation for student upward economic mobility. More at n j I T dot e DU And here's what's making news now in science, Technology, engineering, and math. The war in Ukraine is having an impact on the

space program. Europe is going to have to wait at least several more years and may need NASA's help before at first planned Mars rover can drill into the planet's dusty surface seeking signs of whether it ever hosted life. The European Space Agency says it will no longer attempt to send the XO Mars Rover aloft this year on a Russian rocket, and may now have to strip out

the mission's many Russian counter components. Rather, scientists are getting their first peak at the genes of nearly one hundred thousand Americans, and what's considered a uniquely diverse genomic database.

Part of a quest to reduce health disparities and and cookie cutter care, the National Institutes of Health released the data to help researchers start unraveling how people's genes, environments, and lifestyles interact to drive their health, and half the studies participants are from racial and ethnic groups historically left

out of medical research. The Great Barrier Reefs government agencies says harder than average temperatures are causing increased coral bleaching, which occurs when corals enter a distress state and lose their allergy, increasing chances of disease or death. The agency's chief scientists says bleaching is becoming more common at the reef and this incident risks being a mass bleaching event and as a Bloomberg and j I t Stem report.

Nathan Okay, Karen, thank you. We're live from the Bloomberg Interactive Broker Studios, where it's coming up to six fifty one on Wall Street. Time out to check what's going on in d C. Some of the top stories in our nation's capital include President Bidence speak with China's Shijin Ping on the war in Ukraine. The Pentagon warning Putin could make nuclear threats at the war drags on, and

the House voting to end Russia's normal trade status. Let's bring in Bloomberg government reporter Emily Wilkins, when we were just about two hours away from the scheduled start of this call between Presidents Biden and she Emily, how pivotal does the White House think this call will be when it comes to at least exerting some kind of pressure on Russia to end the war. I mean, this is certainly going to be a huge call today. There's a lot of question about where China actually stands in regard

to the Kremlin. Their message has been very, very careful here, Nathan. They have talked about wanting to you know, that they won't attack Ukraine, that they want peace in the region. But at the same point, they really have not come out and criticized Russia for anything they did. And we're now seeing reporting on the terminal of saying that US officials are now saying that Beijing might be hardening their stance,

that they're moving towarwards the Kremlin. And so this is coming at a very pivotal point for the US to sort of step in and let President She know that should they go ahead and either help Moscow with either military aid or sanctions relief, that there will be additional

sanctions for China. Well, if there is this consensus building in the White House that China's position may be hardening here, Emily, what are the expectations going in on whether the President will have any influence on China's President She when it comes to Russia. I mean, certainly this call wouldn't be happening if officials weren't had din't have some degree of confidence that that Biden could potentially make a difference at this point. One thing we're really keeping an eye out

here is for what sanctions might be threatened. The White House really hasn't gone into detail on that at that point, but we know that that it is a concern. We heard Secretary of State Anthony B. Linklin say that they think that China could be considering directly assisting Russia with

military assistance to use in Ukraine. Uh And so I think today is both going to be an attempted by the Biden administration to really kind of war in China about what the fall will be should they decide to help the Kremlin while we wait to or potentially any clarity from China on its position when it comes to Russia's war, We're getting a pretty dire assessment from the Pentagon when it comes to Russia's intentions if this war

continues to drag on. Yeah, it's a pretty bleak new assessment sixty seven pages um And the main takeaway from it is is that Russia that outlook is pretty grim right now. They're not having the resources that they need for some of these missiles that they're producing, their ground invasion installed, and it says that putin in this in the light of all these setbacks for Russia, could turn

to nuclear weapons and threatening nuclear weapons. Obviously, this is sort of one of the big concerns with talking to members of Congress this week, they said, you know, we have to start thinking about what our red lines are when would we potentially get involved in terms of our military and they mentioned nuclear use of nuclear news as something where they might wind up getting in and so it's sort of just seemed to see at this point the pressure that's clearly on putin the sanctions seem to

be working. The resistance from the Ukrainian people seem to be wearing Russia down. Um, and it's just a question then of what is Russia's next move now. I wonder what, if anything, this report's assessment says about what the Pentagon thinks that Putin's ultimate goals are in this war. If he's uh, the idea is that he could eventually threatened to use nuclear weapons, how much farther could this war progress?

I mean, it seems like what Putin's goal is here, at least according to the report, is to really sort of get some of Russia's power back from the pre Cold War era. That that seems to be his focus, what he is is focused on here. I mean, I think there's a question of of what his own calculation is because clearly right now the world is against Russia.

You are seeing all of these sanctions from numerous countries, including the more recent sanctions that passed the House yesterday that would sort of end permanent normal trade relations with Russia. And so at this point, if Putin's goal is to sort of build up Russia to its former glory, uh, he's managed instead to really turn the world against it and and really really hurt Russia's economy. I think about thirty seconds left here. Emily, you mentioned the House passing

those new sanctions, the normal trade status being revoked. That's going on to the Senate. Now, what are the prospects for this legislation there? So it seems like it's pretty good. It passed the House with really wide bipartisan support, only a few members voted against it. Um when Senator rather Majority Leader Chuck Schumer said on Thursday that the Senate does plan to take up and quickly pass this legislation.

I think the big outstanding question right now is that the oil ban on Russian oil imports that passed the House is also stuck in the Senate, and there's a lot of discussion demove the two bills together. What also happens with this Global Minitsky Human Rights Act, which would allow Biden to impose further sanctions on Russia for human rights violations. So I think there's sort of a wider question about what's going on, but there definitely is momentum

for this legislation to pass in the Senate. All right, as always, thanks Emily Bloomberg. Government reporter Emily Wilkins with us from the nation's capital, Karen Nathan. It is six fifties six on Wall Street. This is Bloomberg Daybreak and Marches Women's History Month, and every day this month, we're celebrating significant moments in women's history. Now with your installment for our March eighteen, here's Bloomberg's Real need a Young

On this day in Women's History. In nineteen seventy, over one women staged a sit in at the Ladies Home Journal, occupying the office for eleven hours that were protesting the way the magazine depicted female interests and perspectives. At the time, the staff of the Ladies Home Journal was comprised mostly of men. Protesters argued that the content focused almost entirely

on housework, beauty, and the support of the patriarchy. On that day, protesters made demands to the editor in chief, John McCarter and senior editor lean Or Hershey, who was one of the only women on staff. Among those demands were the hiring of a female editor in chief and an all female editorial staff, raising women's salaries, and hiring diverse women. Later on, in nineteen seventy three, hers She was named editor in chief. That's today in Women's History,

I'm reneed a young. Bloomberg Radio every native, thank you again. Futures are lower this morning. SNP Future is down twenty nine points. Now Future is down two hundred two and

NASTAG futures down ninety nine. At a ten year treasury up seven thirty seconds, YELD two point one four percent, yield on the two year one point nine zero percent, NIMEX Screwed oil isn't a hundred four dollars eighteen cents a barrel, and Bloomberg surveillance is straight ahead For Nathan Hagar, I'm Karen Moscow, and this is Bloomberg