Bloomberg Daybreak: March 29, 2022 - Hour 2 (Radio)

Plus the January sixth Panel recommends holding two Trump aids in contempt. Michael Barr more ahead, I'm time STASHEDWN sports. The Knicks beat the polls at the Garden. The Yukon Women won in double overtime to advance to the Final four. That's all straight ahead on Bloomberg day Break on Bloomberg Eliving Trio, New York, Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, Bloomberg nine six, 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 Hagar and I'm Karen. Moscow and US futures are higher this morning. We're coming up to six o one on Wall Street and we check the markets every fifteen minutes. While the trading day on Bloomberg. Right now, SNP futures are up about twenty points down. Futures have a hundred forty four NASDACK futures up sixty nine. The

decks in Germany's at one point nine percent. Ten year treasury down fifty and thirty seconds two point five one percent, and they yield on the two year two point four three percent. Nine X screwed oil is up three ten percent or thirty one cents at a hundred six dollars twenty seven cents a barrel, and the euro at one point one zero three seven against the dollar. Nathan Karen, we begin with the latest on the war in Eastern Europe. Ukraine is looking for a ceasefire agreement and talks with

Russia negotiators. Today we get the very latest from Bloomberg International Affairs reporter Mark Champion is exchanged for the ceasefire is less clear. The sequencing would be quite difficult because at the moment, what the Ukrainians are talking about is they would agree to neutrality. In exchange from neutrality, there would be security guarantees from other Western countries, similar to NATO's Article five. You know, all that would have to be agreed in a referendum that would take a year.

So how that all gets sequences extremely difficult to understand. What would be the borders that were being guaranteed by these guaranteurs in the West is difficult to understand at that point. Bloomberg's Mark Champion reports talks are underway in Turkey. President Urtwan is telling the Ukrainian and Russian delegations he

expects quote good news from the meeting. Meantime, Nathan Russian appears to be making good on its dead Moscow says it made a more than hundred million dollar interest payment on its foreign bonds. Is by financial isolation in the face of warnings from credit rating agencies. The government has so far side step to default. Here in the U s care and President Biden is clarifying his remarks on Vladimir Putin, saying the US is not seeking to remove the Russian president, but he does say he has the

right to express concern. Bloomberg said Baxter has the story the President says he's not planning regime change in Russia, but has the right to express his opinion. I was expressing my outrage as the behavior this man. It's outrageous. It's outrageous, and it's more an aspiration, and he shouldn't be in power. There's no I mean, people like this shouldn't be ruling countries. But they do. The fact they do, but doesn't mean I can't express my outrage about it.

And NATO is having its debate about talking directly with putin some countries, saying before any talks, there has to be a ceasefire in Ukraine. In San Francisco, I'm at Baxter Bloomberg Daybreak, All right, and thank you now. An update on President Biden's agenda back home. The White House is doubling down on efforts to overhaul the text Code. It's looking to get more money from the wealthiest households and largest companies. Amy Morris has details from our Bloomberg

newsroom in Washington. President Biden says his plan is designed to ship away at the deficit run up by the administration cut the depths to buy more than one trillion, three hundred billion dollars that would be the largest one year reduction and the deficit in US history. Part of that would be funded through a minimum tax on mega millionaires and billionaires, including on their unrealized gains, raising an estimated three hundred sixty billion dollars over a decade from

roughly the wealthiest twenty thousand households in the country. But it faces opposition in Congress, and not just from Republicans. The billionaire tax is also a key false line between moderate Democrats and progressives. White House advisors are now talking with lallmakers about how to win support for the tax

proposal in Washington. I maybe more as Bloomberg Daybreak thanks Samy. Meantime, the Senate's passed a measure to help US tech companies, passing its version of a longstalled bill to help the U semiconductor industry and boost competitiveness with China. That sets the stage for negotiations with the House, which has already passed its own version. The measure includes fifty seven or fifty two billion dollars, I should say to boost chip manufacturing and let's turn to the markets now. Nathan and

a few companies making headlines this morning. Bloombergs John Tucker joins us Live with the latest. Good morning, John, Good morning Karen. Let's start out with fed Ax, the package shipping company named roj Subermanian as its new CEO. He takes the reins from seventy seven year old founder Fred Smith, who pioneered express delivery almost fifty years ago. Smith had been in the midst of a campaign to overhaul the

company to stem declining profit margins. Meantime, Amazon has become the first mega cap tech stock to erase losses for the year. Shares are now one point four percent of the year after having dropped more than eighteen percent earlier this month. And finally, Apples Here's headed for their longest winning streak since two thousand and three. After a dismal start of the year, Apples seen earnings estimates upgraded by analysts Live in New York. I'm John Tucker, Bloomberg Daybreak.

All right, John, Thanks. Also watching shares of Barclays this morning. They're down more than three percent in London after a shareholders sold about one point two billion dollars of stock. The sale came a day after Barclays revealed a costly blunder and how it sold billions of dollars in securities. The identity of the Barkley seller was not disclosed. Meantime, in Hong Kong, Nathan, the outlook for bankers is looking up.

The city hashing an exodus of finance staff, but those that stayed are getting reward and Bloomberry's Ready to Young joins us live with the details. Good morning, ready to down, Good morning Karen. For tech savvy workers willing to live in a city largely isolated from the world, opportunities like big promotions and pay increases are plentiful, at least in

the short term now. Typically finance workers heading to a different company in Hong Kong would get about a fifteen percent pay hike, but executive search firm E s g I says they're seeing twenty increases. Meantime, government data show the number of new visas issued to foreign financial service workers in Hong Kong fell last year, down almost fifty percent from eighteen and that was before the Omicron variant prompted more lockdowns. Live in New York, I'm rened a

young Bloomberg daybreak. All right, we need to thanks SMP futures up eighteen points now, Dow Future is up a hundred forty nastac Future is hired by sixty three points. The tenure treasury yield two point five zero percent yield on the two year right now two point four two percent. Straight ahead, your latest local headlines and a check of sports. This is Bloomberg six oh seven on Wall Street twenty five degrees in Central Park and Jericho Turnpike is closed

both ways for an accident. Of daily road 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. New York City Mayor Eric Adams is denouncing Florida's controversial Don't Say Gay bill. In signing the bill, Florida govern Around De Santis says the legislation forbids instruction on sexual orientation and gender identity in

kindergarten through third grade in Florida. We not only know that parents have a right to be involved, uh, we insist that parents have a right to be involved. Joe Saunders with the lgbt Q advocacy group Equality Florida said De Santis has set the state back decades. Governor de Santis has damaged our state's reputation as a welcoming and inclusive place for all families. He has made us a laughing stock and a target of national derision. Worst, he

has made schools less safe for children. New York Mayor Adams called the bill hateful and harmful of seeing on social media. To the families living in fear of this state sponsored discrimination, You're welcome in New York City. Our arms and hearts are wide open. The House Committee voted unanimously last night to recommend contempt citations against two of former President Trump's White House advisors for defying subpoenas to testify in the last year's riots at the US Capitol.

The panel name former aids Dance Cavino and Peter Navarro. Congresswoman Liz Cheney, the top Republican on the Select committee, said anyone who participated in the January sixth effort should be held accountable. As a federal judge concluded today, the illegality of President Trump's plan for January six was quote obvious.

Cheney was referring to US District Judge David Carter, writing, the court finds it more likely than not that President Trump corruptly attempted to obstruct the Joint Session of Congress. On January se the founder of Citadel is giving forty million dollars to New York City as American Museum of Natural History. The donation is part of the three forty million dollars ray so far for the Richard Guilders Science and Education and Innovation Center, which is sent to open

some time between late two and early three. Actor Will Smith apologized Chris Rock after he slapped the comedian at the Oscars Sunday night. Meanwhile, the Academy Emotion, Pictures, Arts and Sciences open a formal review of Smith's behavior. Global News twenty four hours a day on air and on Bloomberg Quickday, powered by more than twenty seven dred journalists and analysts more than twenty countries. Michael Barr, this is Bloomberg, Nathan.

Thank you, Michael. Coming up to six ten on Wall Street. Time for the Bloomberg Sports Update with John Seshi. Nathan. Hard to make the NBA Playoffs when you win only one game in the month of February like the Knicks day. The Knicks are almost certainly not going to make it. Their four and a half games behind, but they have one four in a row, first time of all year. They came from twelve down beat Chicago at the Garden one on nine, one on four. R J Barrett twenty

eight points, Alec Birket seven. Mark de Rosen had thirty seven for the Bulls. Nets home tonight for Detroit Rangers are in Pittsburgh, n C Double A Women's Tournament double overtime in Bridgeport, Yukon beat NC State to eighties seven and I'll off to another Final four. Reaction from the coach you know, Orima on the Star Flare Paige Becker's it's one of the best games I've ever been part of um since I've been at Yukon. Regular season, postseason, doesn't really matter. It was just a lot of fun

to playing two very competitive team teams. Like CoA said, just playing for our lives at that point in we found a way to win, and we stuck together and we stay composed. Yeah, I'm just it was a really exciting game. For sure. You got twenty second Final four under Orim. They've gone now fourteen years in a row. The Jets have signed free agent defensive lineman Solomon Thomas, once the third overall pick of the draft. He played for Jets coach Roberts Salo and Salo coach the forty

Miners Defense Giants. GM Joe Shane says he has not initiated any trade talks regarding se Kwon Barkley. NFL owners are meeting. They are considered a change in the overtime rule where both teams would be assured of a possession. Baseball forty two year old future Hall of Famer Albert Poole says this will be his final season and he will spend it with the team he used to start for, the St. Louis Cartons. John Stash Howard, Bloomberg's toys All right, John,

thank you. SMP futures up fifteen points now, the futures up a hundred twenty six, intect futures up forty three points. The tenure treasury is down eleven thirty seconds. The yield two point five zero percent yield on the two year two point four too. You're listening to Bloomberg Daybreak. Bloomberg

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Visit ancient dot com markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business Atland at Bloomberg Quicktape, He's a Bloomberg business lash and I'm Karen Moscow stocks on the rise as ceasefire talks between Russia and Ukraine helped to fuel risk appetite. US stock index futures are climbing after benchmarks rose for a third session yesterday, and we checked the markets every

fifteen minutes throughout the trading day. On Bloomberg, Guess and P futures up seventeen points down, futures up one four NASDACK futures up fifty three the DACK in Germany up one point nine per cent. The tend Your Treasury down

eleven thirty seconds, yield two point four nine percent. That yield on the two year two point four one percent nine Max screwed Oi l A is up seven ten percent, or seventy four cents at a hundred six dollars seventy cents of barrel Co Max School down one point three percent or twenty five dollars at nineteen nineteen seventy announced, the euro one point one zero four one against the dollar, British pound one point three zero nine to the yen at one twenty three point four eight and Bitcoin this

morning lower down nine tenths percent at forty seven thousand, five hundred twenty five dollars. That's at Bloomberg Business Flash. Now here's Michael Barr with more on what's going on around the world. Michael Karen, thank you very much. More than a month after Russia invaded Ukraine, the two nations resumed negotiations towards a ceasefire today. The sit down will take place over three days in this in bull Turkey.

Ukrainian President Voladimir Zelenski says this country would consider a neutrality agreement to achieve piece shangha I beef up lockdown restrictions for people residing in the eastern half of the city, barring everyone from leaving their homes even to walk their dogs. Record local daily COVID nineteen infections jump today to close to forty eight hundred. In the NBA. Of the next one, the Celtics and Warriors lost, Yukon is heading back to the Women's NZ Double A final four for the fourteenth

straight time. The Huskies beat North Carolina State and double overtime. Yukon will face Stanford. Louisville is also in because they'll face South Carolina in the NHL. The Capital's Lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalist and analysts more than a hundred twenty countries. Michael Barrn, This is Bloomberg, Nathan. Thanks Michael, six nineteen on Wall

Street Line from the Bloomberg Attractive Bokers Studios. This is Bloomberg Daybreak and Bloomberg News Executive Editor for International Government. Roslyn Matheson is with us as we continue to watch these talks underway in Turkey between Ukraine and Russia. Ros good morning. As we heard from Michael, Ukrainian President Zelinski is saying he is open to neutrality. Is that a

sign of a concession as we head into these times? Well, that's actually something he's been saying all along, is that he's open to discussing a lot of things in order to get a cease far and then possibly more permanent

peace agreement. But neutrality for Ukraine comes with caveats, and those are some pretty significant ones, which include security guarantees that they say must come from European countries, from NATO members Turkey, the US and others in order for it to feel safe enough to say it can declare itself neutral. Mutual probably means confirming what everyone knows already and that Ukraine will not join NATO for the foreseeable future for many years, if at all, and that can allow it

to say, in theory it's neutral. But in order to do that, it also does need some kind of support from the West, and that's where we get into tricky ground again about what security guarantees might be possible, what other countries would be willing to sign, if anything, in order to make Ukraine feel comfortable in that scenario. So we're quite a way still, potentially from getting that bigger deal.

There is the possibility in Turkey today tomorrow that we might get the outlines of what would be a forty eight hour ceasefire that just that these brings a pause in the fighting, that allows more people to leave some of the worst areas that have been hit by the conflict, and perhaps some breathing space to allow conversation towards that

broader deal. If we do get that ceasefire, does that bring in the possibility that we get more discussions among NATO members when it comes to some of these asks that Zelinski is looking for, like security guarantees, And I guess the bigger question is what kind of security guarantees could need to agree to when you have so many different leaders of so many different countries with their own

ideas heading into this. Well, that's right, and as our reporting has been showing over the last week, there are quite the spell of divergence within NATURE members, particularly in Europe, between Western Europe, Eastern Europe and some one about exactly how to tackle those really big questions. Because some leaders would say, let's just get a cease far, get the fighting to stop, then let's think about the rest of it. The most important priority is that others are saying it

has to all happen at the same time. But of course you're putting together potentially very complicated piece. Still they could have lasting ramifications, so if you don't get it right from the outset, this would cause problems for years from now. So these countries are saying, hang on, let's not rush any of this because if we have to

give guarantees, what do they look like. Um, it's very clear that NATO members have said they will not put troops into Ukraine in this existing conflict or commit to doing so in a future conflict. So what does security guarantees mean anyway? Does it mean sending certain types of weaponry into Ukraine to support it if it has to have a further conflict with Russia somewhere on its terrain? What else does it look like? That's really up in

the air at this stage. I've seen reports that Russian billionaire Roman Abramovich is taking part in these talks in Istanbul. If we confirmed that, and how could that affect the negotiations. Well, he seems to be playing a bit of a self styled role as a mediator. UM. He has held talks in Ukraine itself earlier in the month. UM, and he's

in Turkey now. He's not part of the official delegation so it's not sitting on the talks that are occurring this morning, but he's certainly in the vicinity and trying to facilitate its scenes in whatever way he can. And he met, of course with the Turkish president this morning before those official talks began, so he seems to be at someone who's on the sidelines, trying to help navigate

if he can. He does, of course have his own contacts in Ukraine and perhaps can smooth the way a bit um, and he probably has an incentive potentially to get back in the good books a bit with countries like the UK and the US. He's been sanctioned as part of this. Of course, his Chelsea football club he's had to give up as well, so perhaps theres a motivation for him to show that he's doing something here, perhaps to to redeem himself and his business with the

West well. As we mentioned, we expect these talks to continue into tomorrow, perhaps even into a day after that. Will continue monitoring them. Bloomberg's Rosalind Matheson, our executive editor for International Government. As always, thanks for keeping us up to speed on what's been happening so far in a Stanbul. Looking ahead to the market open on Wall Street, futures are higher, SMP futures are up eighteen points, down futures up forty two, NASTAC futures on the rise by forty

nine points. The tenure treasury is down thirteen thirty seconds, the yield two point five zero percent. The yield on the two year right now two point four two percent. That's a spread of eight basis points. Name x screws up nine percent, ninety six cents at a hundred six dollars cents of baril comes Gold down one point four percent, down twenty six dollars seventy cents a N eighteen even announced straight ahead. President Biden expresses outrage at Vladimir Putin

and megacap Tech makes a comeback. Five things you need to start your day straight ahead on Bloomberg Game Bloomberg Jay Break brought 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. Make your 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 to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg N sixteen to the country, Sirius XM to the Oneline team and around the globe. The Bloomberg Business app in Bloomberg Radio dot Com. This is Bloomberg Daybreak six thirty on Wall Street. Good morning. I'm Nathan Hager 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 out to you buy interactive brokers Up first, Ukraine is looking for a ceasefire agreement and talks to the Russian negotiators. They're meeting right now in Turkey, where President here to Wan says he expects quote good news from the peace talks meantime, Karen, President Biden is clarifying his remarks on Vladimir Putin. He says the US is not seeking regime change in Russia, but

that he still has the right to express concern. I was expressing my outrage at the behavior of this man. It's outrageous. It's outrageous, and it's more an aspiration, and he shouldn't be in power. There's no I mean, people like this shouldn't be ruling countries, but they do. The fact they do, but don me and I can't express my outrage. President Biden is rejecting criticism that his comments escalated the situation with Russia. Meantime, Nathan, the President's budget

is also in focus. He's renewing efforts to sUAS more tax revenue from big companies and wealthy households. His new budget calls for two point five trillion dollars in tax hikes. Turning to markets, now, we have several companies making headlines this morning. Let's see at the details live with Bloomberg's John Tucker, John Nathan. Let's starting with the change of the top at fed X, the package delivery company is

named Rod Subramanian as its new CEO. He takes over from founder Fred Smith, who pioneered express delivery almost fifty years ago. Up next, let's talk Amazon. It's become the first megacap text doctor raise losses for the year. Shares are now up one point four percent since January one. And finally, Apples here is heading for their longest winning streaks since two thousand three. After a dismal start of the year, Apple has seen earnings estimates upgraded by analysts.

Lie to New York. I'm John Tucker, Bloomberg. Daybreak right, John, Thank you. Returned to Hong Kong now, where the outlook for bankers is looking up. The city has seen an exodus of finance staff, but those that state are getting rewarded. Bloomberg's Rindy to Young joins us live at the details, good morning Rady to good morning Karen. For tech savvy workers willing to live in the somewhat isolated city, opportunities like big promotions and pay increases are plentiful, at least

in the short term. That typically finance workers heading to a different company in Hong Kong would get about fiftent pay hike, but executive search firm E s g I says they're seeing twenty increases. Data show the number of new visas issued to foreign financial service workers in Hong Kong is down almost fifty from Live in New York, I'm rened a young Bloomberg daybreak. Al Right, re need to thank you. And that's the five things you need to notice start your day and straight ahead your latest

local headlines, plus a check of sports. And this is Bloomberg. Thanks caring at six thirty three on Wall Street, twenty five degrees in Central Parker's starting to see the lace build up on the bridges and tunnels. Now we'll get the details in traffic in a few minutes. First, Michael Barr has more right now on what's going on in New York and around the world. Michael, thank you very much. Nathan. New York City Mayor Eric Adams is criticizing Florida's so

called Don't Say Game bill. Florida Governor Around de Santis signed to build that limits instruction about gender identity and sexual orientation in kindergarten through third grade in Florida. We will make sure that parents can send their kids to school to get an education, not an indoctrination. Critics say it will further marginalize those in the LGBTQ community. Mayor Adams called the bill hateful and harmful, saying to the families living in fear of this state sponsored discrimination, you

are welcome in New York City. Our arms and hearts are wide open. Uber and lift drivers in New York City planned a caravan today from Brooklyn to Uber's headquarters in Manhattan to demand better pay and other benefits, including bolstering health and safety and transparency and driver to the activation. Drivers say with rising gas prices, it is getting harder

to make a profit. The House committee investigating last year's attack on the US Capitol has voted unanimously to hold two aids to former President Donald Trump in contempt of Congress Trade Advisor Peter Navarro and Communications aid Dan Skavino, and refused for months to comply with subpoenas it comes. As US District Judge David Carter ruled, the court finds it more likely than not that President Trump corruptly attempted

to obstruct the Joint Session of Congress. On January one, during the contempt hearing, Committee chair Benny Thompson said the judge's ruling as a victory for the rule of law. I encourage people at home to read what Judge Carter wrote and consider his words very carefully. His warnings about the ongoing threat to American democracy shield alarm every person in this country. The panel's resolution now goes to the House approval. There would then send the charges to the

Justice Department. There has been an apology after Will Smith slapped Chris Rock at the Academy Awards Sunday. Smith says his behavior was unacceptable and inexcusable and he was wrong. Smith on Instagram said the joke about his wife's medical condition was, in his words, too much for me to Bear. He then issued a personal apology to rock Smith could

face disciplinary action by the Motion Picture Academy. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan, thanks Michael. Almost six thirty six on All Street Time for the Bloomberg Sports Update with

John Stash Allen. Alright, Natan the next playoff. Holks remains slim the damage done with that mid season stretch where they lost seventeen out of twenty, but their credit, Nick's not going down without a fight. Just had a three and oh road trip, came home, came from twelve down beat Chicago one oh nine, one oh four. R J Barrett point, we fight, so that's it's not an option

for us. We're fighting no matter what. We're a very good team and uh, you know, we've we've been disappointed with how we started the season, but we're a very good team. But we're pulling out these wins and we're scratching in claw and play very well. Alec Burks at a twenty seven second straight game where Burke's hit the big three down the stretch of the night where Julius Randall only made one shot, his backup Obi Toppin scorched

seventeen points. Slumping Warriors missing the injured Steph Curry got blown out in Memphis Golden States last six and seven.

The n C Double A Women's Final four will have three one seed Stanford, South Carolina and Louisville, plus Yukon, who had a down season by their standards with five losses, but the second seed a Husky's be top seed NC State in double overtime, first regional final ever to go two overtimes, and now Yukon, off to a fourteenth final four in a row, had a big home court advantage,

had to play the game in Bridgeport. NFL owners meeting in Florida, facing criticism for lack of minority head coaches, announcing a change in hiring practices and so often teams look to hire coaches whose background is on offense. Every team now has to have a minority on its staff that works with the offense on The Rooney rule that demand's interviews with minority candidates has been expanded to include female candidates. John catually were Bloomberg sports an All right, John,

thanks six thirty seven on Wall Street. Time to take a look at stock some of the names moving in the pre market. Bloomberg's Laura right is with us now for a look at the pre market update. Lauras stock split will do for a company's evaluation. Of course, we're talking now about Tesla. We are Tesla up two in the pre market, positive reverberations from that stock split announcement via Twitter twenty four hours ago. But we discussed yesterday

on this program. Tesla added eighty four billion dollars to its stock market value on Monday, and to put that in context, it's more than Forward's entire market cap. And the last time Tesla split it stock was back in August, the year where Tesla's share price rose over seven. Hence the positive reaction on this occasion. So we're thinking there's going to be a lot more retail investor interest if

this stock split goes forward. When you think about retail investors lately, you think about meme stuff as how are they doing this morning? Well, games stopped pairing some of yesterday's gains before the bell down two percent. The video game retailer championed by retail investors has seen a ten day rally and what is the longest winning streaks since April. Separately, a MC cooling off down two point eight percent after

yesterday's huge gains. The movie theater chain rallied forty percent yesterday as the market continues to show support for AMC's interest in retail investors. Remember it was this affinity with retail investors that led AMC's CEO to listen and lead the company to take a stake in high Croft Mining and Unorthodox Pairing. You could say, nice, you're watching Norton

LifeLock as well. They've had a bit of an analyst down grade, right yeah, down one and a half percent ahead of the open, Morgan Stanley downgrading the stock actually citing uncertainty surrounding longer term sales and Norton Lifelock's acquisition of London listed software Provide to avast. Now that deal is valued at eight point six billion dollars, it's facing an in depth probe by the UK Competition and Markets Authority. Thus ahead wind and finally, Laura, I see you're watching

cannabis stocks as well. What's going on in that space. Yes, Sundal growers until rate brands down nine percent and four percent, respectively. So cannabis stocks are falling ahead of a vote taking place in the US House this week to decriminalize marijuana. Now, while the bill is expected to pass in the House, the legislation is forecast to have a little chance in

the Senate. All right, Bloomberg's Laura right with us, keeping an eye on what's happening in the markets ahead of the open and taking a look at stocks as a whole. This morning, futures aren't moving higher. We have SMP futures right now up eighteen points, Stown futures up a hundred forty six, and Nasdaq futures are higher by fifty points.

Lot of action once again in the bond space, with the tenure Treasury down twelve thirty seconds, the yield two point five zero percent, yield down, the two year two point four one percent, NIMEX crude moving higher up one percent, up a dollar four two hundred seven dollars one cent to barrel, and comic gold at the moment down one point four percent or twenty six dollars sixty cents at

ten announced. Stay well, US, You're listening to Bloomberg day Break Bloomberg eleven three oh weather sunny, breezy, near forty for a high today mid forties with showers likely Tomorrow, could see more showers Thursday, with a high year seventy by then. Right now, bundle up twenty five degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm Karen

Moscow and futures this morning are rising. We go to the first word breaking news dance for today's morning call. Here's Bill Maloney. Bill, good morning, and good morning Karen. That's right. US features are in the green right now down, futures up a hundred and fifty point, says to He's game nineteen. Well nos that futures are higher by fifty seven. The US ten year old at two and a half percent, Gold is down nine Oil is trading higher, but bitcoin

is down by one percent. Japan rose one point one percent overnight, while up markets are also in the green, led by two and a half percent gains in France and back in the US. On the economic front, at ten o'clock, Consumer confidence and Jolt's job openings. After about US night, Jeffreys Q and net revenue beat estimates and regarding earnings this morning, McCormick beat Smith's and this is just hitting right now. In deal news, United Health to pay a hundred and seventy dollars to share for l

h C Group Rapid things up. Fortnite was upgrade to overweight over at Barkley's, and Reynolds was cut to sell Overreck Goldman Sachs. Live from the First Breaking News dosc on Bill Maloney care great, Bill, thank you, and to hear live breaking news over your Bloomberg Times squalk on your termin I'll ask you a w K and that's a Bomberg business flash. Now here's Michael Barr with Moore on what's going on around the world. Michael Karen, thank

you very much. Russia and Ukraine have started peace talks in his Sten Bull in mariupal alone A. Russia's siege of the southern city has killed almost five thousand people, according to the city's mayor. President Joe Biden said he wasn't announcing a US policy change when he declared Russian president Vladimir Putin cannot remain in power, but was expressing his own anger about the invasion of Ukraine. Biden told reporters,

I am not walking anything back. The fact of the matter is I was expressing the moral outrage I felt. In the NBA the nixt one, the Celtics and Warriors lost. Yukon is heading back to the Women's nc Double A Final four for the fourteenth straight time. The Huskies beat North Carolina State seven and a double overtime thriller. Yukon will face Stanford. Louisville is also when they will face

South Carolina in the NHL. The Capital's Lost. Global News twenty four hours a day on air and on Bloomberg Quick Take Hour by more than twenty seven under journalists and analyst more than twenty countries. Michael Barr and this

is Bloomberg. Karen, right, Michael, thank you. At sixty nine on Wall Street, we turned to news and science and technology Now with the Bloomberg and j I T STEM Report, brought to you buy New Jersey Institute of Technology and 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 its making news and science, technology, engineering and math, and Shanghai authorities cranked up lockdown restrictions for people living in the eastern half of the city. They'll be allowed outside only to get a COVID test. After four days, the other half of Shanghai will be locked down. The city recorded a record number of almost

forty five hundred COVID cases today. Germany recorded about twenty five percent more electricity generated from renewable sources in the first three months of the year compared with the same period last year, thanks to unusually wind and sunny weather. The German government has pledged to ramp up the use of solar and wind power as part of its plan

to wean the country off Russian fossil fuels. Because of the war in Ukraine and Cafe Pacific Airways plans to reroute its New York Hong Kong service to avoid Russian airspace and what would be the world's longest commercial passenger flight by distance. The airline plans to fly from New York's JFK air poured over the Atlantic Ocean, the UK,

Southern Europe and Central Asia. According to a memo to Cafe Flight staff seen by Bloomberg News, the distance of ten thousand, three hundred twenty six miles, we'll take about seventeen hours, and that's a Bloomberg and j I t Step report. Nathan, there's a map of that flight on

the Bloomberg terminal. That is a long haul. It is where you're live from the Bloomberg Interactive Brokers studios where it's now six fifty one on Wall Street Time now to check what's going on in d C. Some of the top stories in our nation's capital include President Biden saying he expressed outrage, not a change in policy when he said Vladimir Putin needs to not remain in power, Senator Mansion coming out against attacks on the wealthy just

proposed in President Biden's new budget, and Supreme Court Justice Clarence Thomas was wife facing a possible house interview over her January six texts from are On. All these stories were joined again by Bloomberg Washington correspondent host of Sound On, Joe Matthew. Joe, once again, we're talking about those nine words from President Biden. As talks are underway between Ukrainian and Russian negotiators to try to stop this war. What

is the state of the geopolitics right now? Well, my goodness, where to begin with that one? In terms of the nine words, the President tried to clean this a little bit more than walk it back. I think is the cliche that we'll go with. As he said, he didn't really regret anything. I think he was just trying to sort of reset what his his intentions were in saying that, reminding at least I am now everyone that he referred to Vladimir Putin as as a war criminal, as a killer,

as a pariah, and a butcher. So what came out of his mouth on Saturday night, while not in the script, didn't actually change a lot. And now there are talks getting underway this morning between Ukraine and Russia in Turkey.

That had been concerns that maybe this type of language would have an impact on talks, but it really is similar to a lot of the other things the president has said the past couple of weeks, and these talks are continuing right now, if only with hopes of achieving some kind of rules of the road here when it comes to the humanitarian crisis, preventing the killing of thousands more civilians is while a low bar, the point of this conversation today as opposed to reaching a ceasefire, which

would be the overall goal for Ukraine. I guess a lot of the concern we've heard from NATO ally leaders Joe is that the president's comments could further escalate tensions Russia. You've gotta wonder how much further escalation there could be when we do have continued bombardments of the Ukrainian cities even as these talks continue. Yeah, it goes both ways here, and that's why, of course, the US and our allies in Great Britain among others, are very skeptical of the

motivations here from Moscow in these talks. Ukraine has a lot of reasons to continue talking. They want to achieve this ceasefire, but the Russians so far have really not been believable in this opportunity or this effort here to achieve peace. Uh. Vladimir Putin has decided to go in in the most intense way possible to try to crush

the spirit of Ukrainians. If he can't beat the military, he's going for the people, and that's kind of the idea behind the sanctions on our end as well, to squeeze the people of Russia so they will rise up and potentially bump Vladimir Putin out of office. But that's nothing that's about to happen anytime soon. Interesting that you framed at, Joe is a reset of the president's remarks

about Vladimir Putin. He might have been looking for a rees at maybe with the release of the budget yesterday, but it seems like we're we're still dealing with a lot of the same debates over spending in Washington. Yeah, he tried to look the White House is trying to appeal to moderates here with an approach of fiscal restraint. It lowers deficit spending by a trillion dollars over ten years.

It adds money for police and veterans. It adds quite a bit more for defense, spending more than eight hundred and thirteen billion dollars. That is an increase over this current fiscal year. But there are some leftovers from Build Back Better, the president's social spending plan that never passed Congress last year, including a proposed tax on on the super wealthy households worth more than a hundred billion dollars

a year. This would be a tax not just on income, but a a minimum tax on unrealized gains Nathan, which is not something that Joe Manchion would favor, nor Kyston Cinema or others on Capitol Hill, which is partly why it didn't pass last year. But the problem is without that tax on unrealized gains, you won't be able to lower deficit spending, by the way the White House is projecting.

The other knock on this, by the way, is this was all drafted with expectations and numbers from November which do not account for the massive increase we've seen in inflation since then. So there are some issues to iron out in this budget, and that's why it will not likely look a lot like this by the time it's done. If they pass something only about thirty seconds left here, Joe, what are the chances that Supreme Court Justice Clarence Thomas's

wife Jenny testifies before? Looking pretty good? Pretty good the panel uh, suggesting that it is likely that they will seek an interview. Uh. It was a pretty busy night actually, as they referred a couple of former Trump officials UH for criminal contempt, potentially charges, which makes four. Now, whether Jenny Thomas gets in front of this panel and whether we hear what she says is another question. Much more to come. Bloomberg Sound On with Joe Matthew are Washington Correspondent.

Catch it this evening five pm at all street time right here on Bloomberg Radio. And you can listen to Bloomberg Radio in Washington. Bloomberg and one oh five point seven FM h D two is how you find us. Karen sounds good, Nathan. It is six fifties six on Wall Street, and it says Bloomberg Daybreak marches Women's History Month, and every day this month we're celebrating significant moments in

women's history. And now with our installment for March twenty nine, here's Bloomberg's gonnaed a young on this day in Women's History. In nine, Catherine Caulbeck becomes the first woman elected as premier in Canada. She led Prince Edward Island and was among female pioneers in Canadian politics. Despite growing up hearing politics was not a place for women, Callbeck successfully ran for office in the House of Commons in nineteen seventy four,

serving for four years. For a decade After that Callbeck worked in her family's hardware, building, furniture and appliances business, returning to politics in night. Although two other women reached premier status before her through part or legislative selection, callback was unique because she became the first woman in Canada elected premier in a general election. That's today in women's history.

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