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

but not even good way. I'm Michael bar More straight ahead, I'm John Stashdown Swards, Kyrie evering first home game, the Nets lost wins with the Knicks and Rangers, and the n C Double eight tournament is down to the final four. That's all straight ahead on Bloomberg day Break on Bloomberg Element TREEO, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen and around the world lone,

Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning, I'm Nathan Hagar, and I'm Karen Moscow and futures are little changed to start the week. We're coming up to six o one on Wall Street. I'm gonna check the markets every fifteen minutes throughout the trading day. On Bloomberg and SNP futures little change to lower, down about four

points now. Dall futures also that will change and NASDACK futures are down forty two The tenure treasury down eight thirty seconds, yield two point five zero percent, and they yield on the two year two point three six percent. Nine night Screwed oil is down three point nine percent, down four dollars forty one cents and a hundred nine dollars forty nine cents of barrel. Nathan, all right, Karen,

we'll have more in markets in a minute. But first, peace talks between Ukraine and Russia resumed this week in Turkey. The meetings come as several cities in Ukraine continue to take heavy fire. We get more from Bloomberg Managing editor Dan ten Kate Lenski is out again speaking about what Duke would be willing to discuss in these talks. One, you know, ready to declare neutrality abandoned, the push to

join NATO. Vow not to develop nuclear weapons. And you know, the key one is basically saying that they're willing to talk about that Dombus region where Russia really had troops already before the war started. And this is sort of an acknowledgement from the Ukrainians that, Okay, you know, maybe we could move the troops back to the positions where they were pre war. Bloomberg's Danten Kate reports that talks resumed while heavy explosions were heard in several Ukrainian cities overnight.

Local authorities expect civilians to keep fleeing the devastated city of Marapol, and Nathan knows. Peace talks, however, are being overshadowed by comments made by President Biden. Some off the cover marks about Russian President Vladimir Putin are garnering serious attention. And here's what the President said Saturday. For God's sake, this man cannot remain Almost immediately the White House tried to walk back those words, and we get more from Bloomberg,

said Baxter. The president's as he was not advocating regime change in Russia and that he was just answering a reporter's question earlier in the day Secretary of State Anthony Blancott also walked back the original statement. We do not have a strategy of regime change in Russia or anywhere else for that matter. Now, the US Ambassador to NATO, Julianne Smith, says the President had spent all day with refugees,

listening to heartbreaking stories. In the moment, I think that was a principled human reaction to the stories that he had heard that day. But French President of Anya mccron is warning against words or actions that could inflame the region. In San Francisco, I'm at Baxter Bloomberg Gay Break and thanks. Let's turn to President Biden's agenda back home now. The White House releases its budget proposal today. It's expected to detail the minimum tax rate for households worth more than

one million dollars. Amy Morris has the details from our Bloomberg room in Washington. The White House calls it the Billionaire Minimum Income Tax. It's the most aggressive proposed so yet by the administration to increase taxation on the wealthiest Americans. If enacted, it will hit both the income and the unrealized capital gains of hundred million dollar households and generate an estimated three hundred sixty billion dollars in new revenue

over the next decade. That's more than a third of the White House has projected trillion dollar cut to deficit spending over that period. In Washington, I maybe more as Bloomberg daybreak all right, Amy, thank you. The economy also in focus this week Friday brains the government's Johns Report for March, and we get more from Bloomberg's Vineydale Jude I's US unemployment is poised to fall, with jobless claims the lowisons in the nineteen sixties and job openings at records.

The March trade could go as low as three point six or three point seven percent. According to some forecasters. Unemployments at a record high of fourteen point seven percent in April one, the pandemic struck the record load two point five percent dates back to the nineteen fifties. Also this week, I s M factory data, consumer spending, consumer confidence, beneath birth day break right if Anny, thanks fixed incomes

front and center this morning. Is the steepest global bond route of the modern era, shows no signs of slowing. Ten Your treasury yields have climbed past two and a half percent. Yields on five year notes rose above those on thirty year bonds, an inversion for those maturities for the first time since two thousand six. That suggests concern over an economic downturn and perhaps even a recession. Nathan, We are seeing big moves in the Japanese yen this morning.

That's after the Bank of Japan offered to buy an unlimited amount of bonds for three straight days. It's the first time the central bank has made such a move. And checking the yen, it's trading at the weakest level in seven years, at one d twenty four point two nine against the dollar. I Meantime, Karen COVID's threatening economic activity in China again. Shanghai has declared a lockdown to

combat a surge in cases. We get details from Bloomberg's Emma O'Brien locking down for four days one part of the city, which does include the financial district in Podong, and then the next four days after that locking down the other side of the city. And during those four day period is they will be mass testing the entire population as part of China's COVID zero strategy, which they are maintaining to really root out and suppress virus cases.

Bloombergs M O'Brien says lockdowns will extend to the roads. Private cars won't be allowed to drive unless necessary, and the lockdown will hit production for Tesla and China. Nathan Bloomberg News has learned the Electric carmaker is extending a production pause at a Shanghai plan for another four days because of the restrictions, and the original plan called for suspending production for just one day anytime. In southern China, Karen investigators have now recovered the second black box from

last week's deadly China Eastern plane crash. All one thirty two people on board were killed when the jet nose dived from nearly thirty thousand feet. We get the latest from bloom Bloomberg's Philip Glenman. Investigators in wood out here in southern China have a big booster investigations by planning the second black box that gives them information on the movement of the plane and the performance of the engine. And it goes along with the black earlier that records

of what was said in mccocks bid. Philip Bloombergs Philip Glaman says the flight data recorder has been sent to pay Jing for analysis. I want to pass along this red headline just across the Bloomberg terminal Tesla to ask holders to vote on more shares for a stock split. You're listening to Bloomberg Daybreak. It sounds six oh seven on Wall Street. We're twenty four degrees in central parking, seeing fifteen to twenty minute delays in the upper level

of George Washington Bridge inbound. The tails coming up in traffic. First Michael Barr with more on what's going on in New York and around the world. Come what are Michael? Good morning, Nathan. The January sixth Panel says two as advisors to former President Donald Trump should be held into contempt of Congress. The panel says they are withholding information at the House committee considers central to its investigation of

events surrounding last year's attack on the US capital. The report from the investigating committee named former wine House Deputy Chief of Staff for Communications Dan Scovino and Trump's trade adviser Peter Navarro. The panel is set to me tonight vote on the recommendations. The Academy Emotion, Picture Arts and Sciences says it does not condone violence in any form

after fireworks at Sunday Nights Oscars. Minutes before accepting his Best Actor award, Will Smith slapped presenter Chris Rock on stage after taking events to a joke about his wife Jada. I love him, g I Jane too. Can't wait to see it all right? That was a nice okay about him? Oh Richard oh Wow. Smith later accepted the Best Actor award for King. Richard Hell said to me a few minutes ago, he said, at your highest moment, be careful.

That's when the devil comes for you. Jessica Chastain won the Best Actress award the movie Code a Stream on Apple One for Best Picture. The Cinderella team of the n C Double A men's basketball tournament will still get a hero roes welcome. After being illuminated. St. Peter's University lost to North Carolina, The Peacocks made tournament history as the first fifteen seed to reach the Elite eight. Fans back home in Jersey City watched the game, cheering for

how far the team advanced. They had a great season. You really can't say nothing bad about it, Jersey City Mayor Stephen Phillips said on Twitter after the Peacocks historic tournament run, the city would still hold a parade and the Keys to the City ceremony for the team. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts and more than a hundred twenty countries. I'm

Michael bar This is Bloomberg, Nathan. Thanks Michael six o nine on Wall Street Time for the Bloomberg Sports Update. Here's John Stashow actuate that it's the Nets. It was the Nets thirty six home game of the season. It was the first I reerving his story, well known as refusal to get the vaccine hot topic not only in sports but at city hall. Last week the private sector mandate lifted for him at least, and Kyrie took the

floor in Brooklyn. My presence out there, which is bigger than the basketball game, you know, which is representing a lot of individuals that are out there in a similar situation of game um and now that oct to play, I think it should be open work for everybody. I don't take it for granted. Laugh and tonight it was his story. I'm great for that. I got a chance to be out there with my brothers and the game did not go well. Irving shot just six of twenty two.

The Nets came off a blowout win in Miami, lost to Charlotte one nineteen and one ten. Almost certainly two little too late for the next playoff host, but they are playing better of late at three and o road. If they held on at Detroit one oh four one oh two, Knicks blew at twenty one point. Lad Alec Burk's the hero down the stretch. He had a big three and that a game saving steel at the Garden Rangers over Buffalo five for the KeAndre Miller gold two

minutes in overtime. The recent Ranger picked up Frank Petrano scored two goals eighteen seconds apart the first period. Islanders lost Devil's top Montreal to shootout. As we just started the news, the clock struck midnight for Cinderella. St. Peter's lost fights twenty to North Carolina and the Peacocks could now be losing their coach. Shaneen Holloway is widely expected to leave to go coach to his alma mater, Seaton Hall.

For Carolina, it will be its twenty one final four and will now play arch rival Dukes sixteenth Final four for Kansas, who crushed Miami, will now take on Glanova. Met said their aces on a mound. Jacob Degraham three at names then Max jers Or for six together twelve strikeouts, and I met when the Yankees won. Although there he's Garrett Cole. You have a couple of home runs. John stash Award Bloomberg Sports, Nathan Okay, John, thanks right now. S and P futures are down three point, Staff futures

up four, NASTAC futures down thirty four points. The tenure treasury is down seven thirty seconds. The yield two point five zero percent. Watching shares of Tesla, they're up nearly three percent. The electric carmaker says we'll ask shareholders to vote on more shares to enable the stock split. Just announced that on Twitter. Says the vote will come at

this year's annual meeting. Stay with us. You're listening to Bloomberg Taper Bloomberg eleven three oh Weather partly sunny, breezy, mid thirties today, mostly sunny, breezy, near forty tomorrow mid forties with increasing clouds on Wednesday. Right now, twenty four degrees in Central Park markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business apt and at Bloomberg Quick Tape. This is a

Bloomberg Business Flash. But I'm Cameron Moscow. Sovereign balls are tumbling while European stocks are gaining. In US stock Index, futures are little changed as economic risks from inflation and

tightening monetary policy hits sentiment. We checked the markets every fifteen minutes throughout the trading day on Bloomberg S and P Future is little change this morning, so we're down futures NASDACK futures down eighteen the decks in Germany's up one point seven percent, ten year treasury down six thirty seconds, the yeld two point four nine percent, and the yield on the two year two point three six percent. Checking

the thirty year yield two point five nine percent. Nine Max Screte oil is falling this morning, down four points three percent on four dollars eighty eight cents at a hundred nine dollars two cents of barrel Brent also moving lower, down three point nine percent. It's at a hundred sixteen dollars and one cent of barrel comics. Gold is down one and a quarter percent, down twenty four dollars, twenty cents at one thousand, nine hundred thirty five dollars, sixty

cents an ounce. The Euro this morning one point oh nine eight zero against the dollar, the British pound one point three one four three, the yen one twenty four point to eight. And checking bitcoin this morning, it's moving higher, up two point four percent. It's at forty seven thousand, two hundred thirty three dollars, and that's a Bloomberg business flash. Now here's Michael Barr with more on what's going on

around the world. Michael, thank you very much. Karen, Ukrainian and Russian officials announced they have agreed to a new round of in person peace stalks to be held in Turkey. It comes as the White House walks back comments President Biden made about Vladimir Putin, saying this man cannot remain in power. Meanwhile, Ukraine President Zelinski accused the West of cowardice, while the northern top officials said Russia was trying to split the nation into like North and South Korea. It's

the water cooler talk today. During last night's Academy Awards. Will Smith slapped Chris Rock on stage after the comedian made a joke about Smith's wife, Jada Pinkett Smith Smith Leader won the Best Actor Oscar Jessica Chastain won for Best Actress. Coda from the Apple streaming Service one for Best Picture, and as for Best Director, Jane Champion won

that award for Power of the Dome. The final four set in the men's NZ Double A basketball Tournament, North Carolina plays due Kansas will face Villanova in the NBA. Kyrie Irving played his first home game of the season, but the Nets lost. The Nicks and Celtics won. The Wizards beat the Warriors. In the NHL, the Rangers won in ot over the Sabers five four. The Devil's won in the shoot out over the Canadiens three to The

Islanders lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts and more than one hundred twenty countries. I'm Michael Barr, and this is Bloomberg. Nathan Okay, Michael. Thanks at six twenty on Wall Straight Line from the

Bloomberg interracted Broker Studios. This is Bloomberg Daybreak and we're joined now by Bloomberg Washington correspondent Amory Hordern with us live from Warsaw, where President Biden made some news at the end of his whirlwind trip to Europe aimed at shoring up support from allies in the war in Ukraine, but certainly not the news that the White House was

looking for, obviously, and Marie, good morning. We're still talking about those nine were its that came at the end of what the President had hoped would be a historic speech in Warsaw. What is the potential fallout now from the President saying, for God's sake, this man, Vladimir Putin must not remain in power. Well, immediately after those words were spoken, we obviously saw the White House walking its

back saying this is not a regime change policy. We also heard that from the Secretary of State Anthony Blanken, who's currently in Israel for some landmark a meeting. He was asked about this, and he said, the United States doesn't have a policy of regime change in Russia or in any country for that matter. And then the President himself was asked leaving church yesterday in Washington, d C. Sir, when you said this man president who change, not remanipold

regime change. No, the issue is, and what you're hearing in Europe say is people taking note that they want to de escalate the situation and they're worried that that type of rhetoric would embolden the Kremlin, embolden their propaganda agenda inside the country, and that would escalate the conflict.

So that's a situation now at the moment. I'm sure the President is going to be asked about this a number of times again this week, And yeah, we're gonna be hearing from the White House again this afternoon as they released the president's budget proposal, probably hoping for that to take some of the attention off this news. But Anne, Marie, this trip that the President made was aimed at showing that the US and NATO are more united than ever before.

When you have now leaders in NATO walking themselves back from the president's remarks, does that sort of undermine the president's mission? I think it does in the short term. Right, you have a mind in Malcolm saying we shouldn't escalate with words or actions. You have Alf Scholt saying I have spoken to US President about this. There is no NATO a central policy of trying to have regime change. So in the short term, certainly this is all everyone

to talk about. After days of diplomacy, after showing the United Front and Brussels, the president came here for a very fiery speech, and no one is even talking about as much the contents that we're in that speech as much as those final nine words before he thanked everyone.

But we should know he did talk about NATO in that speech, and he got very dramatic at one point and said, don't even think of moving on one single inch of NATO territory, and that was met with applause from the royal caste of Warsaw, where you know, hundreds were gathered to give this speech, because you know, we are in Poland, and that is a country that is on the border of this war. Is the NATO country is a country that already close to the border there

was missiles from Russia. So that is something that the Polish government and people wanted to hear. Uh And so in that sense there was his unity amongst NATO. But you're certainly right, Nathan, these these less work presidents said, is is overshadowing a lot of work that was done here. We only have about thirty seconds left here, Emory. What does this mean for negotiations as Ukraine and Russia gets

set to hold talks again tomorrow in Turkey. Well, we should remember that Russia has always felt that the United States wanted to perpetrate regime change. In two thousand and eleven Puttin blame to the US for the protesters that were out on the streets for his twelve years of reigning. So I think the Kremlin for them this was not exactly news, but they just may use it against them. When it comes to the diplomacy talk, we should note nothing has changed on the ground, so we'll have to

wait to see if anything can change. And you sit down and talk. Thank you for the updated Boomberg's Emory horduring with us this morning in Warsaw, Poland. Looking ahead to the market open this morning, little change as far as futures go, SMP futures are a little changed to the upside, Dow futures up nine points, NASAC futures down eleven. The ten year treasury is down four thirty seconds now with the yield just shy of two point four nine per cent yield on the two year two point three

four Stay with us. You're listening to Bloomberg Daybreak. Bloomberg day Break is brought to you by ancient accountants and advisors. Challenging times call for proactive advisors who helped minimize taxes, increase cash flow, and create opportunities for the future of your business. To visit Ancient dot Com broadcasting live from

the Bloomberg Interactive Broker's studio in New York. Bloomberg E Living Freedom to Washington, d C, Bloomberg On to Boston, Bloomberg one O six one to San Francisco, Bloomberg sixteen to the Country, Sirius XM to the 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. A brought to you by Interactive Brokers. Up First. Peace talks between Ukraine and Russia resume in Turkey this week, but that's being overshadowed by comments from President Biden over the weekend. He took aim at the leadership of Vladimir Putin. We'll have a different future of writer future rooting democracy in principle, open light, decency, indignitive,

freedom of possibilities. For God's sake, this man cannot remain power. And those words are reverberating across Europe. This morning, the White House trying to clarify the president's remarks, saying he was not calling for regime changes in Russia. Well, critics say President Biden's comment is a boost for Putin. We get more from Bloomberg International Affairs reporter Mark Champion. The words of what they are, they are a gift to as and Putin, who has been arguing that this is

not a war against Ukraine. It's an award to defend Russia against Western attempts to destroy Russia. So, you know, unfortunately it's a gift to him in propaganda terms. You know, when you have a leader who is now seen as somewhat isolated, paranoid in Moscow, it really doesn't help to suggest that that's the kind of thinking that is going on in Washington. Whether or not it is the public position.

Bloomberg Smart Champion, says one White House officials, suggesting the president's remarks were influenced by stories of suffering he heard from Ukrainian refugees. Meantime, Nathan back in Washington, the White House releases its budget proposal today. It's expected to detail a billionaire minimum income tax, which would implement a minimum tax rate for households worth more than a hundred million dollars. That rate would hit both income and unrealized capital gains.

Turning the markets now care in the steepest global bond route of the modern era, shows no signs of slowing. Ten year treasury yields of climbed past two and a half percent, yields on five year notes rose above those on thirty year bonds and inversion for those maturities for the first time since two thousand six. And we're seeing big moves in the Japanese end this morning, Nathan. That's after the Bank of Japan offered to buy an unlimited amount of for three straight days. It's the first time

the central bank has made such a move. Checking the yen, it's trading at the weakest level in seven years at one twenty three point nine two against the dollar. And that's the five things you need to know to start your day, brought to you by Interactive Brokers. S ANDP futures are a little change to lower this morning down

about four points down. Future is also little change Nasdack futures down to thirties three and the tenure Treasury down four thirties seconds yield two point for eight per cent. Trade to head your latest local headlines plus the check of sports. And this is Bloomberg six thirty three on Wall Street, twenty three degrees in Central Park, avoid the upper level. The George Washington Bridge delayser nearly an hour.

Now I'll tell you why in traffic shortly. First, Michael Bars here with what else is going on in New York and around the world. Michael, good morning, Good morning, Nathan. The January sixth Panel says two ETS advisors to former President Donald Trump should be held in the contempt of Congress because they're withholding information that a House committee considers central to its investigation of events surrounding the attack on

the US Capitol. The investigating committee says former White House Deputy Chief of Staff for Communications, Dan's Cavino and former Trade advisor Peter Navarro may have had advanced warning about the potential for violence. The panel will meet tonight. The Cinderella team of the n C Double A men's basketball tournament will still get a parade after being eliminated. St.

Peter's University lost to North Carolina. The Peacocks made tournament history as the first fifteen seed to reach the Elite eight. Fans back home in Jersey City watched the game, sharing for how far the team advanced. We're gonna come back next season. We're gonna win next season, Jersey City Mayor Stephen Phullips said on Twitter. The city will also hold

the keys to the city ceremony for the team. Pushed back from top Capitol Hill lawmakers following the announcement that the Veterans Administration plans to close dozens of v A hospitals and lenox across the country to build new facilities. Senate MA geority leader Chuck Schumer said he's urging to v A to rethink to plan hospital closures. We are gonna fight this proposal tooth and nail. We're gonna put

a dagger through It's hard. It is not gonna see and we're here doing it now because we're gonna nip this in the button. Senator Schumer spoke alongside military veterans in New York. It's a moment that will be talked about in the history of the Academy Awards. Actor Will Smith slapped comedian Chris Rock on live television minutes before winning the Best Actor. Oscar rockead joked that Smith's wife, Jada Pinkett Smith, could be in the next g I.

Jane movie, reference to her very short hair. She has alopecia disease, which causes hair loss. Smith addressed the incident during his acceptance speech for his role in King Richard and They're like crazy five And just like they said about Richard, Williams um, but love will make you do crazy things. Jessica chan Stain whe the Oscar for Best Actress.

Apple's Coda one Best Picture. Global News twenty four hours a day on air and on Bloomberg Quittake, powered by more than seven hundred journalists and analyists in more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan, Thank you, Michael. Almost six thirty six on Wall Street. Tim for the Bloomberg Sports update with John stennshown alright Nathan. The Nets waited about five months for Kyrie every to be allowed to play a home games by being unvaxed.

He finally dead and he had one of his worst games, shot just six of twenty two, outplayed by Charlotte's young point guard LaMelo Ball has scored thirty three points. The Hornets beat the Nets in Milklan one ten. The Knicks blow one point lead but held on at Detroit and one oh four one oh two. Knicks have won six of their last eight road games that are home tonight for Chicago at the Garden. Last night, Rangers, in a back and forth game won five four and overtime of

a Buffalo Jandre Miller. The game wont of two minutes into ot the Devil's wanted to shoot apt the Islanders lost. As we just heard the news, the Slipper no longer fits, but St. Peter's will be remembered for perhaps the greatest Cinderella running NC Double A tournament history. The coach of

the Peak cocksud he In Holloway. No one gave a chancel, no one believed it, but the people are in the locker room and the people you know that's that's in not programmed Plow administration know us and and in May history, you know, they shocked the world. They you know, he got guys that's got to be remembered for things that they could tell their kids and grandkids. In Philly. St. Peter's lost by twenty in North Carolina, who will now

face Duke at the Final four in New Orleans. It will be the two game between the arch rival and the first ever in the n C Double as Kansas will play Villanova. Yankees and Mets both one. Aaron Judge homer twice, and so did Francisco Lindor. He had home runs from both sides of the plate. The hottest golfer Scotty Sheeffler. He won the match play in Texas easily. He's won three of his last five tournaments, and Scotty Sheffler not ranked as the number one golfer in the world.

John Snash at were Bloomberg Sports Nathan Okay, John, thanks six thirty seven on Wall Street Time. You take a look now it stacks some of the names moving in the pre market. For that. We're joined this morning by Bloomberg's Laura Right Laura, good morning. We've had a lot of moves involving Tesla this morning, a lot of headlines for sure. We have indeed twofold headlines for Tesla right now. The stock rallying almost five A tweet earlier this hour

sent Tesla's share price surging. Tesla will ask shareholders to vote at this year's annual meeting in order to authorize additional shares in order to enable a stock split. Earlier this morning, Tesla shares were selling off in the pre market because Tesla's Shanghai factory will be closed for the next four days due to a two stage lockdown which is now taking place in Shanghai to conduct mass testing

against COVID nineteen. We're seeing a real divergence between China's zero COVID policy and other developed markets which are considering COVID and endemic and this plant closure, well, that was significant because Shanghai makes half of Tesla's electric v calls and not only supports the wider Asia market, but also exports to Europe. And we've also gotten a lot of news this morning about Apple, not just the fact that they're they're big movie one Best Picture last night at

the oscars. But there are some issues for Apple now with Covid still maintaining its script in China. Exactly, Apple trading down one in the pre market, and this morning a report from nick A Asia that Apple is going to reduce the output of iPhones and apples this year due to growing uncertainties surrounding the war in Ukraine, the headwind of looming inflation and as you say, rolling lockdowns

in China. So and also in European markets, you have to remember we are experiencing a cost of living crisis, higher energy prices and CPI for the Eurozone is expected to be the highest level since the inception of the Euro when it comes out this Friday, and keeping it in Asia this morning, I see your watching US casino of stocks with exposure to Macau. What's happening there? I am indeed so names such as Las Vegas Sands, Melco Resorts and Entertainment Win Resorts MGM Resorts. So there's not

enough volume right now to see pre market moves. But due to the lockdown in Shanghai, investors are concerned that we will see less mainland visits to those casino companies in Macau. All right, So we'll be keeping an eye on that as the market opens as well. Bloomberg's lore right, thanks for keeping us up to speed on what's happening in the pre market and as we take a look at stocks as a whole before the open on Wall Street on this Monday morning. Little change as far as

the futures go right now. S and P futures are down a point and a half down, futures up four points, NASTAC futures lower by twenty three points. That's a drop of about two tenths percent. The big actions happening in Europe, with Germany's decks up one point seven percent and the CAC in Paris higher by one and a half percent right now. Lots of action in the bond market as well, with a ten year down four thirty seconds, the yield

two point four eight percent. At one point in the overnight the tenure breached two and a half percent, yield on the two years at two point three four and nime X crew continues it's to climb down four and a quarter percent at a hundred nine dollars four cents of barrel. You're listening to Bloomberg Daybreak, Bloomberg eleven three oh weather partly sunny, breezy, mid thirties today, mostly sunny, breezy with a high near forty. Tomorrow we'll get to

the mid forties with increasing clouds by Wednesday. Right now twenty three 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 Take, She's a Bloomberg Business Flash and I'm Karen most Tawie and p. Futures are a little change this morning, we get to the first word breaking news dance for today's morning call. And here Bill Maloney, Bill, good morning, and good morning Karen.

That's right. US futures are quiet right now. Down futures hired by eighteen points, SUPs gaining point one nasdack futures are lower by twelve. The US a ten year old at two point four nine percent. Gold is down twenty five. Oil is also under pressure, but bitcoin is up like two point four percent. Hong Kong rose one point three percent overnight, while up markets are also in the green,

led by games in Germany and Italy. Back in the US, on the economic Fronday thirty, hostel inventories and A ten thirty the Dallas Fed. In other news, Tesla's up four percent premarket pre market on the report they plan to seek approval on another stock split, and Apple is lower pre market on the report of an iPhone production cut.

Wrapping things up, micro Chip was cut to neutral Gooleman Sacks, Deer raised to neutral at JP Morgan Bank of Marker was raised to equate up Morgan Stanley, and all Trio was cut to sector perform At RBC Live from the first to Breaking news desk on Bill Maloney cameral Alright, Bill, thank you to hear live breaking news over here at Bloomberg Times. Squawk on your terminal, ascue you a w K and that's a Bloomberg Business Flash. Now here's Michael

bar with Moore on what's going on around the world. Michael, thank you very much, Karen. President Joe Biden sought to clarify his call for the removal of Vladimir Prutent. Biden says he wasn't seeking regime change after European allies raised concern and critics said that he was further inflaming tension with Russia. At the Academy Awards, actor Will Smith slap comedian Chris Rock on Live TV. Minutes before winning the Best Actor, Oscar Smith took offense after Rock made a

joke about Smith's wife, Jada Pinkett. Smith Jessica Chastain and won for Best Actress. Apple's Coda is the first streaming film to win Best Picture. The Final four is set in the Men's NZ Double A basketball tournament. North Carolina plays Duke Kansas will face Villanova in the NBA. Kyrie Irving played his first home game of the season, but the Nets lost the Knicks and Celtics won. The Wizards beat the Warriors in the NHL. The Rangers won in ot over the Sabers. The Devil's won in his Now

over the Canadiens. The Islanders lost. Global news twenty four hours a day on air and on Bloomberg Quick Thick, powered by more than seven hundred journalist antalyist in more than one twenty countries. Not Michael bar and this is Bloomberg. Karen, all right, Michael, thank you, And it is six forty nine on Wall Street. We turned to news and science and technology now at the Bloomberg and j I t Stem Report. It is brought to you by New Jersey Institute of Technology n j i T makes industry ready

engineers and more than twenty fields. If it's engineering, it's at n j i T. Learn more at n j i T dot, E d U and now here's just making news. In science, technology, engineering, and math. A second COVID nineteen vaccine booster could soon be authorized for older adults. The New York Times reports emergency use authorization is expected

to come this week. The second vaccine booster would essentially be a fourth dose of the Fiser and Maderna m RNA vaccines, But on Russian health, climate scientists worry how they'll keep up with their important work of documenting warming in the Arctic. Postcold War. Bridge building through science is unraveling as Western nations seek to punish and isolate the Kremlin because of the invasion by drying up support for

scientific programs involving Russia. The costs of this decompling, scientists say, could be high on both sides. Tackling climate change and their problems will be tougher without collaboration and time will be lost. And scientists have figured out why vampire bats are the only mammals that can survive on a diet of just blood. They compared the genome of common vampire bats to twenty six of their bats species and identified thirteen genes that are missing or no longer work in

vampire bats over the years. Those gene tweaks help them adapt to a blood diet rich in iron and protein, but with minimal fats or carbohydrates. And the findings are in the journal Science Advances. That's the Bloomberg and j. I. T. Stem Report, Nathan, if only Bram Stoker had known. Thank you, Karen.

Six fifty one on Wall Street, We are live from the Bloomberg Interact Broker's Studios time out to check what's going on in d C. Some of the top stories in our nation's capital include the Biden administration in cleanup mode after the president's apparent ad lib in warsaw that Vladimir Putin must not remain in power. What we all agree on is that President Putin cannot be empowered to

wage war. US Ambassador to NATO Julianne Smith tells Fox News Sunday, the President was not calling for regime change. He has attacked Ukraine in a premeditated, unprovoked conflict and is pursuing this relentless and brutal war in Ukraine, which

we all want to see come to an end. The Republican Senator Rob Portman tells NBC's Meet the Press, the President's line plays into Russian propagandists stands clarity is incredibly important, and we may to be sure that we are also clear with our NATO allies, because that's how we are stronger. Also making news, Justice Clarence Thomas facing calls to recuse himself from January six cases after his wife Jenny reportedly texted White House Chief of Staff Mark Meadows about overturning

the election. Democratic Senator Amy Klobisher was on ABC's This Week, not only should he recuse himself, but the Supreme Court badly needs ethics rules. Chris Murphy's leading a bill I've long been on supportive of that says basically, get your act together, get ethics rules in place. This week, Meet the Press in Fox News Sunday. Can all be heard every Sunday on Bloomberg Radio and for more. On this Monday morning, we're joined by Bloomberg Government reporter Emily Wilkins.

As we're still talking about the President's apparent off the cuff from Mark in Warsaw Emily. What is the concerned level at the White House about the President's speech on Saturday. Well, I mean the speech is one thing that was the off the cuff from Mark at the end that has really concerned not only those in the US, those within government, but also allies to the US. We've heard allies in

France and in the UK come out with concerns. French President m crone said that they shouldn't escalate with words or with actions, and that is the concern of what Biden has done here. Now the White House has tried to come out and you know, really walk this back. We heard Secretary of State Anthony Blinken say that Biden's off the cuff from Mark was a reference to Putin's power and ability to invade other countries, and that they

were not calling for a regime change. But this just really speaks to sort of how delicate the situation is between Russia, Ukraine and other nations, and just how little willingness there is at this point to escalate beyond the current situation. There's also been some suggestion that Biden, just after being in Poland, after talking with refugees, was in

a pretty emotional state when he did speak. Um, but of of you know, of course, this is something the White House is going to be dealing with going forward. How much is the White House going to be dealing with this? They've we've heard the walk back from a number of Biden administration officials. Are we hearing about any further outreach to allies or even to Russia about trying

to smooth this over. There's definitely been some discussion about making sure that staffers are reaching out to their counterparts in other nations, really making sure that they're clarifying where the US stands on this. And you know, this really

could be a big problem for President Biden. A poll that came out this weekend showed that some seventy of Americans have a limited or little confidence in Biden's handling of the Ukraine War, and so to had not have that confidence behind him could really open the president up to more attacks and concerns from those inside his party, uh and out and outside. Really. I mean, at this point, we've seen a lot of Republicans kind of try to remain united behind President Biden to you know, be supportive

of his efforts. But we are seeing some Republican lawmakers over the weekend now really raised concerns about Biden's remarks, and you know, sort of indicate that this combined up being a larger problem for the US. Now, of course, President wants to turn his attention back to his domestic agenda. He's releasing his budget proposal for the next fiscal year later on this afternoon. We've got some idea of what's

in it. Can you sort of break things down for us? Yeah, So this is a budget that's very much aimed at certain the more moderate members of the Democratic Party, including fiscal hawks. That includes a one trillion dollar reduction in deficit spending for the coming decade. A lot of that will actually come from a new proposed tax twenty minimum tax on the income and unrealized capital themes of households

worth more than a hundred million. The administration's pitching this as a billionaire minimum income tax and estimates that it would generate three hundred sixty billion dollars in new revenue over the next decade. The budget also includes one of the largest investments in national security in US history, at four percent increase from this year, and just to be cleared to Athan I mean, the key word for this

whole thing is proposal. The White House goal send the proposal to Congress, and Congress usually says this is very nice, Mr President, thank you very much, but they wind up doing their own thing, all right. Bloomberg Government reporter Emily Wilkins, and we will be bringing you the president's remarks as he releases his budget later on this afternoon. So stay with Bloomberg Radio, Karen very Nathan, thank you at A six fifty six on Wall Street. This is Bloomberg Daybreak.

March is Women's History Month, and every day this month we are celebrating significant moments in women's history. Now, if your installment for March twenty eight, here's Bloomberg's reny to young on this day in women's history. In nineteen seventeen, the Women's Army Auxiliary Corps was established. It was renamed Queen Mary's Army Auxiliary Corps in nineteen eighteen, and just a few years earlier, the mere suggestion of women in the army would have been considered ridiculous by the British

War Office. As far as the British military was concerned, the only military role that was suitable for women was nursing. But in nineteen seventeen, there was a huge step back from that mindset. When World War One was declared in nineteen four team women formed long lines at labor exchanges to volunteer for whatever roles that were available related to the war. Coupled with Britain facing a major manpower shortage two years later and several movements, women finally got an

opportunity to work alongside men soon after. That's today in women's history. I'm we need a young Bloomberg radio. All right, we need to thank you again. U S and P futures are little change this morning. Dow futures little changed as well, and Nounceday futures lower down about twenty three points. A ten year treasury down six thirties seconds, yield two point for nine percent, and the yield down that two year is at two point three four percent. Bloomberg surveillance

is straight ahead. For Nathan Hagar, I'm Karen Moscow and this is Bloomberg