Bloomberg Daybreak: March 30, 2022 - Hour 2 (Radio)

Plus the White House swam block President Trump's daughter and son in law from testifying before House Committee. Michael barn More, I'm John Stashdown Sports Kevin Durant led the Nets to victory over the Pistons, Chris Cryder and the Rangers with

a road win at Pittsburgh. That's all straight ahead on Bloomberg day Break on Bloomberg eleven, 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. Go on Bloomberg Radio dot Com and via the Bloomberg Business. Good Morning, I'm Nathan Hager, and I'm Karen Moscow and

US DOT Index futures are lower this morning. We're coming up to six o one on Wall Street, and we checked the markets every fifteen minutes throughout the trading day. On Bloomberg, U S and P future is down sixteen points this morning, down futures down on eleven Nasdack futures down sixty eight The decks in Germany's down one point four percent. Tenure treasury down one thirty second yield two point three nine percent. They yield on the two year

two point three one percent. Nine x Screwed oil is up two point one percent, up two dollars twenty cents and a hundred six dollars forty eight cents of barrel, and the euro is at one point one one to six against the dollar. Nathan, all right, Karen, let's get to the latest now on the war in Ukraine. Russia is promising the scale back military operations near the capital city of Kiev and the city of Chernihiv, but there

are still reports of shelling in both areas. President Biden was asked where the heath thinks the war is ending or if Russia is just buying time. We'll see. I don't read anything into it until I see what their actions are. We'll see if they follow through and with their suggesting, the President bide and spoken the news conference with the Prime Minister of Singapore. Ukrainian President Vladimir Zolenski

also has his doubts. We can say that the signals we hear from the talks are positive, but these signals can't silence the explosions of Russian shells. President Zelenski says there are grounds not to trust Russia. A regional governor says the city of Chernihill was shelled all night despite Russia's promises. The U n says more than four million refugees have now fled Ukraine. That is nearly ten percent of the population. Meantime, back in the US, Nathan new

Revelations tide of last year's attack on the capitol. There are more than seven hours of gaps in White House telephone logs from the afternoon at January six, and those gaps coincide at the same time protesters swarmed the US capital. Amy Morris has details from our Bloomberg ninety one one

newsroom in Washington. The committee investigating the insurrect should found a big gap from a little after eleven am to about seven pm in the logs provided by the National Archives, but there is evidence that the President did talk with people inside the Capitol that day, including Kevin McCarthy, Jim Jordan's, and Mike Pence calls that don't show up on the

White House logs. Now the committee is trying to determine it the President bypassed the White House system by using a burner phone or his AIDS cell phones in Washington. I'm maybe more as Bloomberg Daybreak. Okay, Amy, thanks. Let's

take a look at markets now, Beginning with treasuries. The tenure yield briefly dropped below it's two year equivalent yesterday for the first time since That inversion is leading to growing calls about the likelihood of a US recession, but Aaron Brown at PIMCO says those concerns may be premature. It has been a good predictor in the past that recession is coming, but I don't think that really tells

you anything new. We knew that we're a late cycle, and typically the yield curban verse and then it takes anywhere from a twenty four months to actually move into a recession. So we're still quite a ways out until potentially we're going to enter into a recession. Tim Co fund manager and Brown says it is more critical to look at why the yield curve is inverting. Meantime, all eyes are on the Fed, and we will hear more from the Central Bank later today. Tune in for an

exclusive interview with Richmond Fed President Tom Barkin. That's coming up at ten thirty am Wall Street Time on Bloomberg Radio and television. When it comes to stocks, Nathan, we're coming off four straight days of games. The S and P five hundred closed above the forty six hundred level for the first time since mid January. Right now, it's down just three percent from an all time high. Looka Paulini, as chief strategist at Pick ten Asset Management, Marcus were

significantly were sold for the number of reasons. Of course, the word in Ukraine, the federal reserves, weekend data, and now everything seems to be not as bad as it was, and so I think that there is this kind of sort of relief friendly Luca Paolini, I picked ted as

that management says despite the rally, he remains cautious. We're also hearing caution from Bank of America here and It's analysts warn that eleven Surgeon stocks over the past two weeks has the hallmarks of a bear market rally, and it might give way to deeper losses. We get the details from Bloomberg's Charlie Pellett. Those analysts say warning signs are flashing for a market that has climbed despite clearly weaker fundamentals, including a Federal Reserve bent on raising rates

sharply this year to battle persistent inflation. The strategists caution that the sell off that took the SMP five hundred twelve percent from its January record is not over, and sharp rallies are typical of volatility and bear markets, with some of the biggest on record occurring in the throes of the dot com meltdown and the global financial crisis in New York. Charlie Pellet Bloomberg day break. All right, Charlie, thank you, and let's look at some stocks that are

moving this morning. Shares a Lulu lemon Or up seven and a half percent. In early training, the athletic ware retailer delivered a sales forecast that beat estimates. Micron shares are out more than four percent, the largest US memory chip maker gave an upbeat forecast to sign that demand remains strong from data center customers, and on the flip side, shares of Chewy are down fourteen. The online retailer of pet care products, put out of forecast that fell short

of estimates. Cryptocurrencies are also in focus this morning, Karen, after what is being called one of the biggest crypto attacks ever, and it wasn't discovered for almost a week. Let's get the details live from Bloomberg's We Need a Young Good morning, Gredita, Good morning, Nathan. Hackers stole about six hundred million dollars from a blockchain network connected to

the popular Axie Infinity online game. They drained what's known as the Ronan bridge of close to one seventy four thousand ether and almost thirty million U s DC tokens. The so called bridge lets people convert tokens into ones that can be used on another network. The blockchain that supports Axie Infinity says the breach happened in March twenty three, but was just a discovered yesterday. This attack is the latest to show how bridge attacks and hacks can threaten

the ecosystem of decentralized apps live in New York. I'm re need a young Bloomberg daybreak, all right, we need a thanks checking bitcoin right now. It's lower on the session, trading around forty seven thousand, three hundred dollars. This is Bloomberg. It sounds six o seven on Wall Street. We're in thirty degrees in Central Park, still dealing with an accident that's got the upper level. The Arizono Bridge closed. Heading into Staten Island. The tails coming up with traffic first.

Michael bar with more on what's going on in New York and around the world. Michael, thank you very much. Nathan. It was a wild scene up in Buffalo. Three police officers were hit by gunfire after a motorist fled a traffic stop and led them on a chase through the city's streets. The suspected gunman was firing at officers from the vehicle authorities. Officers shot and wounded the driver at

an intersection in front of a police station. Buffalo Mayor Byron Brown a very very dangerous situation, and we are very thankful that two suspects involved in this situation are in police custody. Mayor Brown says none of the officers injuries resulted in life threatening moments, and no civilians on the street were hit by the flying bullets. Police said

the suspect it was shot was undergoing surgery. The White House were not blocked former President Donald Trump's daughter and son in law of Anka Trump and Jared Kushner from testifying to the House committee investigating the January sixth Capitol riot. White House spokeswoman Kate Beddenfield says the constitutional protections of executive privilege should not be used to shield from Congress or the public information about an attack on the constitution itself.

Kushner is expected to appear voluntarily before the committee this week. A team of US airplane accident investigators and technical experts could add to China as soon as this week to help unravel the mysterious crash of the Boeing seven thirty seven jet earlier this month. All one two people on board the China Eastern jet were killed. President Joe Biden signed a law making lynching a federal hate crime. The President said of racial hate isn't an old problem, It's

a persistent one. Hate never goes away. It only hides, It hides under the rocks. Given just a little bit of oxygen. It comes roaring back out, screaming President Biden. An American astronaut who spent nearly a year on the International Space Station is coming back to a world that has seen some dramatic changes. Mark Vanda High will be returning to Earth, and for a time it wasn't clear that the Russians would give him a ride home because

of the war in Ukraine. Before departing the International Space Station, Russian cosmonaut Anton scarpul Off talked about continued cooperation in space. People have problem on us on orbit. Yeah, like, uh, you're not like one crew, they are dudes and like end in Kazakhstan. This morning Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than seven hundred journalists and analysts and more

than a hundred twenty countries. And Michael Vard this is Bloomberg, Nathan, Thank you, Michael. Just about six ten on Wall Street. Time for the Bloomberg Sports Update with John Stanhower. All right, Nathan, Regular seasons winding down playoff positions. Being Jockey four, Rangers would love to have home ice advantage in the first round. They only lost six regulation home games all season. They're battling with Pittsburgh. They beat the Penguins three to to

move one point ahead. Frank Pctronto Braden Schnyder scored in the second period that Chris Dryder early in the third forty fifth goal of the season for Cryder. The Islanders won four three at Columbus. The Nets had to come from behind and Brooklyn, but they beat Detroit one thirty three. Kevin Durant scort forty one point at the Garden and I T semifinal wins for Xavier and Texas A and M. They'll play tomorrow of the champion chip. Could be the last n I T game in New York, at least

for a while. Until last year, the tournament always ended at MSG. Now they're gonna move it around to other cities and Lorida tend not to win for the Mets of the Marlins. Another home run for Francisco Lindor. Disappointment in his first season as the Mempanies at four home runs in twenty spring training at bask Yankees fourteen to two over the Phillies. Fourth homer for Kyla Gasca Yoka. Head of val Commissioner Roger good Elm at the media

at the owners meetings in Palm Beach. Asked about the league possibly suspending quarterback to Shawn Watson, who is still facing twenty two civil lawsuits of sexual misconduct. You know, these are serious chargers that we're looking at this seriously. Um. We now have obviously at least resolution from the criminal side of it. Obviously there's still civil charges that we're going on, so ours is hopefully we'll have access to more information. Watson was recently traded to Cleveland, where he

got a massive new contract. Johns Dashwart Bloomberg Sports thanks shown red headline crossing the Bloomberg terminal. The Kremlin reports no breakthrough in Ukraine, tucks and says much work remains. The latest on the war. Next with Bloomberg's Rosalin mathis and this is Bloomberg. Bloomberg Day Break brought to you by ancient accountants and advisors. Challenging times call for proactive advisors who helped minimize taxes, increase ash flow, and create

opportunities for the future of your business. Visit ancient dot com markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com. The Bloomberg Business Outland at Bloomberg quick tape. This is a Bloomberg business flash and I'm camer in Moscow. US DOT index futures are lower this morning amid mornings at gains of the past two weeks, at the hallmarks of a bear market rally, and concerns

at the treasury curve signals a looming recession. We checked the markets every fifteen minutes throughout the trading day on Bloomberg Guess and P futures down twenty points down, features down a hundred twenty eight and NAZDAC futures down ninety five. The decks in Germany's down one and a half percent. The ten year treasury down three thirty seconds yield two point four zero percent. They yield on the two year

two point three two percent. Nine max Screwed oil is up about two percent or two dollars three cents at a hundred six dollars twenty five cents of barrel. Comic schooled that four tenths percent or seven dollar sixty cents at nineteen twenty five sixty announced the euro one point one one to nine against the dollar. British found one point three one four four. The yen has at one d twenty one point eight eight and bitcoin this morning moving lower down half percent at forty seven thousand, two

hundred sixty dollars. BioNTech says it plans a share of buy back of as much as one and a half billion dollars and will propose a special dividend for during some of the profits from its best selling COVID nineteen vaccine too shareholders. That's a Bloomberg business flash. Now here's Michael Barrow with more on what's going on around the world. Muddel Karen, thank you very much. Russia's pledge to scale

backs and military operations in Ukraine is drawing skepticism. Ukrainian President Volodair Zelenski said there was no reason to believe Russia's announcement that it would reduced military activity near the capital of Kiev given what's happening on the ground. Thousands have died and the u N Refugee Agency says more than four million Ukrainians have led the country. A green light has been given to a second booster shot of the MODERNA and fires your vaccines for Americans over fifty

and the immune compromised. The decision comes as there's concerned over a new COVID nineteen variant. In the NBA, the Nets one, the Wizards lost. In the NHL, the Rangers and Islanders won, the Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts in more than one d twenty countries. Michael Barr and this is Bloomberg all right, Michael, Thanks, six nineteen on Wall

Street Live from the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak, and we're joined now by Bloomberg News Executive editor for International Government, Rosalind Matheson. Just as we're hearing from the Kremlin after yesterday's talks with Ukraine. In turn, the headline this morning from spokesman Dmitri Pescalf, Russia doesn't observe any breakthrough in Ukraine talks and a lot of work remains to be done. Riz It seems like this

is just adding to the whipsite effect. Well, that's right, but in fact, yesterday when they had these talks in Istanbul, they came away with no great progress at all. There wasn't even a temporary ceased far that was announced. There had been hopes going into the talks that that could happen,

and they actually ended a day early. After that first round of discussions, it seems it was mostly an exercise in each side getting to put out their positions on the table again, indicate where their red lines were for any sort of further discussion around a potential peace steal, and leave again. So it's it's pretty much stating the

obvious by the Kremlin that there was no breakthroughs here. Certainly, Also, their announcement yesterday that they were going to deescalate around Kiev was nothing new, because that just reflects the events on the ground that have been happening the past few weeks. Already,

Russia has been very bogged down there. Their troops have been stuck and so they have made a tactical decision to withdraw there, to to divert those resources to other plates places in Ukraine, particularly in the east and the south, and we group in the conflict. So it wasn't really a magnanimous gesture to allow space for peace talks. There was a reflection of the reality of the war on the ground of nothing else, and even as Russia has

said that it does plan to the escalate. We're hearing reports from Ukrainian leaders that near the cities where Russia says it will pull back Kiv in turnitive, there's been continued shelling in the overnight hours. Where do things go from here now rise, Well, that's right, there was indeed overnight shelling in both those places um and fighting on

the ground. The fighting could reflect the troops as they withdraw that you can be engaged in in conflict even as you are pulling back and possibly to the Yelloous border and three. But it's also again just giving themselves cover to divert some of those resources to the east. You've seen very heavy shelling in parts of the east and the south overnight no let up again for the city of Mariopoorl, but also in those separatist areas of

the Dombas territories in the east. So you can see that there's not going to be no perhaps the escalation of the shelling that's been going on of these cities. Even if the troops do you pull back their ground, that Russia is going to sustain the pressure and that's probably also to ensure that Ukraine has no leeway to divert its troops over to the east. In the south, you need to keep some pressure on in the north to prevent Ukraine having the opportunity to move their troops

around as well. You mentioned the talks that were planned for today apparently are canceled. Now we just heard from Dmitri Pascal at the Kremlin saying a lot of work does remain to be done. Do we have any sense at this point that there will be further discussions and what could they entail. Well, at least there seems to be in intent to keep the conversation going. There was no date set though for further talks, and perhaps they might be going back to having video conferencing meetings every

day for now instead. At least they got perhaps a bit of a measure of each other in the conversation yesterday. Ukraine got the opportunity to set out the small areas of wiggle room it might be prepared to entertain in a broader conversation and laid out some markers there. Russia did the same, but you can see the obstacles are very significant to a broader piece. Still, if they failed even to get a temporary Cisfar yesterday. That has to be the first step really is to get a temporary

truth in the fighting. You allow the space for a conversation then for a broader deal. And they can't even get to that first marker as yet in our last minute here. Not the least of which for the hurdles with the talks seems to be the trust gap that Ukraine has with Russia. Do we have any sense of what it would take for Ukraine to trust Russia after all the renegging that the Russian side has done even

before the invasion. Well, it seems that Ukraine wants to lay at a position where it wouldn't have to trust Russia. It will have the support of other nations, a sort of a guarantee of sorts to keep Russia in its lane going forward. And that's why it's looking to a whole host of countries around the world, possibly a dozen of them, to sign up for written security guarantees for Ukraine, so that if Russia says or does certain things, they've

got support from the international community. Of course, that would probably still stop short of putting troops on the ground in Ukraine, but that sort of that really sends a signal. Ukraine says, We're not going to be able to trust Russia no matter what they say, and we're going to need these guarantees from elsewhere to ensure that Russia behaves itself. Thank you, as always for keeping us up to speed.

Rosalind mathieson Bloomberg News, Executive editor for International Government and again reiterating the headline from the Kremlin this morning, It's spokesman Dmitry Peskov says that Russia does not observe any breakthrough in talks with Ukraine and a lot of work remains to be done. SMP Future is now down sixteen points to our futures down a hundred nastack futures lower by seventy nine points in the tenure treasury two point four percent. This is Bloomberg Bloomberg Daybreak, brought to you

by the Jewish Communal Fund JCFS. Donor advised fund is the smart choice to manage our 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 Home to Washington, d C. Bloomberg nine one to Boston, Bloomberg on A six one to San Francisco, Bloomberg nine sixteen to the country, Sirius XM to the one nine team, and around the globe the Bloomberg Business app 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. When we're just about three hours away from the open of US trading, Let's get you up to date on

the news you need to know this hour. Russia has promised to cut back military operations near two key cities in Ukraine, including the capital Kiev, but the U S And NATO have their doubts. After the latest round of negotiations, we're still seeing fighting to the north and west of Kiev, and the Kremlin says there's been no breakthrough in talks. Here's Pentagon spokesman John Kirby. We're not prepared to call

us a retreat or even a withdrawal. We think that that what they probably have in mind is a repositioning to prioritize elsewhere. John Kirby at the Pentagon says air strikes on Kiev are still happening, so the threat has not radically diminished. And in Ukraine meantime, Karen, President Vladimir z Lensky also has his doubts. We are seeing all of the risks. Of course, we are not seeing grounds to trust the words coming from representatives of the country

that continues fighting to destroy US. And President Zolensky says there are grounds not to trust Russia. And the regional governor says the city of Chernihiv was shelled all night this fight Russia's promises. The u N says more than four million refugees have now fled Ukraine. That's nearly ten percent of the population. I'll back here in the US night, and we have new revelations tied to the January six attack on the Capitol. The House committee investigating the insurrection

has questions about former President Trump's calls that day. They've uncovered a seven hour gap in the President's phone logs. The gap covers a period when lawmakers are trying to get him to stop the mob We're also focusing on crypto this morning, Karen, after what's being called one of the biggest cryptocurrency attacks ever, and it wasn't discovered for almost a week. Let's get the details live from Bloomberg's

Rnity Young. Good morning, Grenita, Good morning Nathan. Hackers stole about six hundred million dollars from a blockchain network connected to the popular Axie Infinity online game. They drained what's known as the Ronan Bridge of close to one seventy four thousand ether and almost thirty million U s DC tokens. The so called bridge lets people convert tokens into ones that can be used on another network. The blockchain that supports Axie Infinity says the breeds happened in March twenty three,

but was just discovered yesterday. Lie in New York, I'm re need a young Bloomberg daybreak a right, we need to thank you, And turning to the stock market now, futures are lower after four straight days of gains. Oil is rising as optimism about a de escalation and the war in Ukraine fades and checking crewed right now and I'm ex screwed. Oil is up one percent of a dollar eighty eight at a hundred six dollars twelve cents

of barrel. Brent is up one point six percent at a hundred eleven dollars nine cents S and P. Future is down sixteen points this morning. Down Future is down a hundred nasday, Futures down seventy eight. Straight ahead your latest local headlines, plus a check of sports, and this is Bloomberg. Okay, here in thanks. Six thirty three on Wall Street. Still thirty degrees in Central Park. They've cleared the accident on the Arizono Bridge. We'll check with traffic

shortly on any lingering delays. First. Michael Barr has more on what's going on in New York and around the world. Good morning, Michael, Good morning Nathan. Three police officers are wounded in Buffalo after someone fled a traffic stop and lead officers on a long chase through the city and shot at them. Buffalo Police Commissioner Joseph Gramaglia one of the police vehicles being shot at. An officer was struck. Um was hit through the police vehicle windshield was struck

multiple times. Um pursued continued on with the suspect vehicle continuing to shoot. Buffalo Mayor Byron Brown says two suspects are in custody. This was a very brazen situation with a suspect shooting from a vehicle at police officers. Mayor Brown says the wild chase ended at an intersection in front of a police station, where officers shot and wounded

the driver. New York's Attorney General is asking a state appeals court to uphold a lower court ruling requiring former President Donald Trump to answer questions under oath A g Letitia James has a civil investigation into his business practices uncovered evidence that he may have misstated the value of assets like golf courses and skyscrapers on financial statements for more than a decade. President Biden signed into law the Emmett Till Anti Lynching Act, which makes lynching a federal

hate crime. During remarks at the bill signing ceremony at the White House Rose Garden, the President said, Hey, it never goes away. It just hides Gracia. He isn't an old problem, It's a persistent problem. Till, who was fourteen from Chicago, was lynched while on a trip to Mississippi in nineteen Israeli officials say at least five people have been killed by a Palestinian gunman who opened fire in a crowded city outside Tel Aviv. The shooter was killed

by police at the scene. California Governor Gavin knew Some block parole for Charles Manson follower Leslie van Houghton, reversing a panel's recommendation that she be freed after spending a half century in prison. Van Outen, who is seventy two, is serving a life sentence for helping Manson and other cult members kill a Los Angeles grocer and his wife

in nineteen sixty nine. Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, Thanks Michael. Six thirty five on Wall Street Time for the Bloomberg Sports Update with John Stashallen Nathan on the

three Rangers have scored fifty goals in the season. Vic Hatfield back in nineteen seventy two, Adam Grays and the Stanley kept winning four season and Yarmur Yager two thousand and six. He's got the club record of fifty four. Chris Stryder scored last night. He's got forty five goals. There are still fifteen games left. Big win for the Blue Shirts three two in Pittsburgh. They move ahead of

the Penguins in the second place in the division. Islanders won four three at Columbus, the nets first home win that included Kyrie urry. They came from behind beat Detroit one three Cavinaants, but forty one points is good. But they still got provs over there. And tonight a shots. You know, they start off the game again. Six three is in the first quarter. They give you a lot of confidence as a team, you know, So we had to uh just go for us to go from periods

like that will be times in the playoffs. Team get hunt unexpectedly and see how weather storms like the Nets will be in the play in for the right to be in the playoffs. Next tonight host Charlotte Nick's going for a fifth grade win at the Garden. N i T semifinal wins for Texas A and M and Xavier, who fired its coach during the n i T. The

two teams played tomorrow for the championship. The NFL and an effort to downplay the importance of winning the coin flip that starts overtime, changing its overtime rules at least for the playoffs. No longer will a touchdown win you the game. Both teams will now be assured of a possession safety. Jabrill Peppers leaving the Giants, he signed with the Patriots coming off at torn A c l Well Tiger Woods play the upcoming Masters fourteen months after the

car accident. Tigers played in eighteen whole practice round ed Augusta, Nashville with Justin Thomas, the Tiger's son, John Stash Edward Bloomberg Sports didn't all right? John? Thanks sixty seven on Wall Street Time now to take a look at stocks, some of the names moving in the pre market. For that, we're joined by Bloomberg's Laura, Right, Laura, quite a few stocks moving this morning and earnings. Where do you want

to start? Micron Technology rallying three and a half percent ahead of the bell after a positive after ours move as well. Now it's the largest US maker of memory chips, and they forecast a record fiscal twenty two years. They focus on memory chips which are used in a variety of products, and that includes data centers, where sales soword six last quarter, and this demand for memory chips it compensates for a flatlining of PC shipments as this part

of the business is decelerating. Many customers already upgraded their computer devices over the pandemic, important news given the chips shortage I've been dealing with over the last few months. They're also seeing a big move in Lulu lemon trading this morning. We are one of my favorite brands of

premium at leisure Maker. It is a big fan of the leggings at seven point in the pre market right now, coming out with the sales forecast for the current quarter and year that's surpassed estimates, and interestingly, Lulu lemon oounced a one billion dollar share buyback program. Demand has been robust since the pandemic, where a lot of us have maintained those lifestyle changes. We're working from home, we're outside more. Are you a big fan of pet stacks? And I

see Chewy's not doing so well after it's earnings. I don't have a dog yet, but it's sad to say, even if I purchased this one, it probably wouldn't help the situation that Chewi is going through right now. I mean, it's just a case of comps being so tough. Chewy down before the bell. Comps are really tough because actually sales for the period still up seventeen year over year, but again they missed the analyst forecasts. Yeah, and speaking

of I guess consumer discretionary. What's going on with our Age, the furniture maker. Well, our Age is remounding in the pre market, it's up almost five percent, but they, like Chewy,

missed sales estimates. And it's a common theme right the macro picture, presenting uncertainties with inflation, the cost of li being, rising interest rates, the war in Ukraine, and they commented that these factors have softened demand in the current quarter, but they are vouching for a three to one stock split which is set to take place in the spring. Now it's still the supply chain issues certainly haven't gone away.

Laura right, Bloomberg News. As always, thanks for keeping us up to speed on what is happening in individual trades in the pre market. As we take a look at stocks as a whole ahead of this Wednesday morning open, futures are pointing to a lower open, with SMP futures down fifteen points now down futures are down ninety NASDAC futures they're lower by seventy three points also seeing declines in European stocks, with the decks in Germany down one point four percent and the cat in Paris down nine

tenths of one percent. Ten Your treasury is down three thirty seconds, with the yield two point four zero percent. Yield on the two year two point three two per cent. After the brief inversion yesterday, Nimex crude is up to per cent or two dollars eleven cents at a hundred six dollars thirty five cents of barrel coll macs gold at even announced. That's a gain of four tenths of one percent in the euro right now one point one

one two three against the dollar. Stay with us, we'll get the latest from the nation's capital the reaction from the US to Russia's claims of de escalation. Bloomberg eleven three oh weather cloudy today, Showers possible this afternoon with highs near fifty degrees, could hit seventy with more afternoon showers tomorrow. It'll turn partly sunny, breezy, upper fifties by Friday, thirty degrees Right now, Markets headlines and breaking news twenty

four hours a day at Bloomberg dot Com. The Bloomberg Business Out and at Bloomberg Quick Tape, he's a Bloomberg Business Flash and I'm Karen Moscow futures are lower this morning. Let's go to the first word breaking news dance for today's morning call. Here's Bill Maloney. Bill, good morning, Hey, good morning, Karen. That's right. US futures are in the red right now at Dow futures down eighty nine points s to B drop thirteen will. Nasdaq futures are off by sixty five. He was a ten year old at

two point four one percent. Gold is a little changed, Oil is trading higher, but bitcoin is down by half a percent. Hong Kong rose one point four percent overnight, while Europa markets are in the red this morning and back in the US on the Economic funda a DP employment change and at a thirty the U s Q four GDP. After the Bill US night, Micron gave a strong's forecast. Lu Lemon gave an optimistic sales outlook, but

rh revenue missed estimates. Regarding earnings this morning, look for a paychecks to report in the pre markets and wrapping things up Banking New York, Mellon was cut to neutral at Goldman Sachs and r H was raised to buy over at Jefferies Live from the first Breaking news discom Bill Maloney caer orry, Bill, thank you to here live breaking news. Over your Bloomberg type squalk on your termin I'll ask you a w U K and that's a Bloomberg business flash. Now here's Michael Barrow with more on

what's going on around the world. Michael Arin, thank you very much. Despite a pledge from Russia to scale back some military operations in Ukraine, the war rages on just outside of Kiev. Meanwhile, the Kremlin says there was no breakthrough in peace talks and much work remains. Peace talks between Ukrainian and Russian officials were expected to continue today in the sten Bull but Turkey's foreign ministers says the

two sides have returned home for consultations. Israeli officials say at least five people have been killed by a Palestinian gunman who opened fire in the crowded city outside Tel Aviv. The shooter was killed by police at the scene. In the NBA, the Nets one, the Wizards lost. In the NHL, the Rangers and Islanders won, the Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analyst

more than a hundred twenty countries. Michael Barr and this is Bloomberg. It was head back to Karen. All right, Michael Barr, thank you. It is 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 U buy New Jersey Institute of Technology n j I T makes industry ready engineers and more than twenty fields.

If it's engineering is an n j I T. Learn more at nj I T dot E d U And now here's it's making News and science, technology, engineering and math. Slam By the long running chip shortage and surging materials prices, global automakers are now facing a new threat, lockdowns in some of China's biggest cities. Toyota and Volkswagen suspended production at four Plants and Change Chun more than two weeks ago, and the city was plunged into lockdown to contain a

COVID outbreak. They say it's unclear when workers will be able to return. That follows a near two weeks shutdown of factories and teen gin during an outbreak in January. Goleman Snacks plans a full return to its offices in Hong Kong starting in the middle of next month. The firm is starting with a split team arrangement. The entire staff will be back starting April fourteen. Hong Kong has begun easing coronavirus restrictions as a number of cases decline,

and it's one of the biggest cryptocurrency attacks ever. How Girl stole about six hundred million dollars from a blockchain network connected to the popular Axie Infinity online game. They targeted what's known as the Ronan Bridge and drained ether and USDC tokens and two transactions. Their breach was not discovered for six days and as a Bloomberg n j

I t Stem report. Nathan Okay, Karen Thanks. We're live from the Bloomberg Interactive Broker Studios or at six fifty on Wall Street Time now to check what's going on in DC. Some of the top stories in our nation's capital include the US saying it doubts Russia's claims of pull back. In Ukraine said it leaders working to break an impass on Russia trade legislation and a seven hour phone blog gap in focus for the House January six Committee for more on all these stories were joined once

again by Bloomberg government reporter Emily Wilkins. So, Emily, I guess the response from the U S when it comes to Russia saying it's the escalating is we'll believe it when we see it. That's basically at Nathan, I mean. President Joe Biden said yesterday that he does read anything into it at this point. He said that after a call with European leaders, sounds like everyone is on the

same page. In fact, the Biden administration is now considering providing another five million for Ukraine that could be used for humanitarian and military efforts. May I have a billion dollars being considered to send over there. It doesn't sound like the Biden administration is convinced that this conflict is over, and the Pentagon was even more skeptical than Biden was

going to be. Spokesman John Kirby told reporters yesterday uh that the Kremlins claims that they will that the people would be foolish to believe the Kremlin's claims that they're going to reduce attacks near Kiev uh and Kirby said that it was repositioning, not a real withdrawal. Yeah, that was some big news yesterday from our Bloomberg News team about this idea of another half billion dollars in Ukraine aid. As you mentioned, it says something about where the Biden

administration thinks the war is going. But what's the feeling on Capitol Hill about whether they want to add on even more aid to the billions we've already given Ukraine. Well, I remember I actually spoke with the Republican leader in the House, Kevin McCarthy, the other week as he left president Ukrainian President voladimir's Olinsky's a dress to Congress, and I asked him if he would consider more aid, and

he seemed very open to that. There is still a strong bipartisan support in Congress for assisting aid to Ukraine.

I think the one big question would be, you know, if Biden needs to come to Congress for this funding, how quickly is Congress is going to be able to get that to him, Because we've seen stalls right now that legislation to end regular trade relations with Russia that flew through the House with a lot of bipartisan support is now stuck in the Senate because one senator, Senator Ram Paul, Republican from Kentucky, has some concerns about a provision that he wants to get a little bit more specific.

And it just kind of shows the nature of of congress Um that, you know, as far as quickly responding to things that they're not Sometimes they're able to do it, but but it only sometimes takes one lawmaker to really hold things up. Well, what is the feeling about whether they can get something done either on that Russian trade legislation or Ukraine aid quick get something they're done quickly? I understand the Senates heading toward another recess in a

week or two. Yeah, and the House is going to both of them tend to be out around the Easter holiday. I mean, there is I think still hope at this point that they can get something done. I mean, even if I mean Senator Ram Paul, he's preventing the process from going as quickly as lawmakers would like. But there's certainly a way that he can have his objections and lawmakers can still get the regular trade relations to Biden's desk.

And I think in terms of funding that's going to have to be something where the White House is going to have to make that request from Congress. I don't think we've seen that yet, unless, of course, the White House has some other reserves that they're going to be pulling that funding from. Usually a request like that do need to originate with Congress. Let's turn to the latest

emily on the House January sixth Committee. A lot of attention about this news of a more than seven and a half hour gap in the White House phone log from the day that supporters of President Trump stormed the capital. Yeah, this is something that that's really been very interesting from the House's investigation into the January six interaction. We know that former President Donald Trump did make phone calls during that time period. We've heard about phone calls from lawmakers

and from others. But when the committee looks for these records as to who he was talking to at the really from the time that the riot started to the height of it, we don't know anything about who Trump was talking to at this point from eleven am to seven pm. And it's a huge question. Right now. The committee is investigating this gap in the House log, and you've heard from lawmakers that you know, they've really done a deep dive here. They've spoken to more to eight

hundred witnesses, including many aids, spent the day with President Trump. Um. There's been a lot of reporting that you have a lot of top level people who have cooperated with the committee, even while other big names have pushed back and taken it to the courts. Um. You know, I think we were going to be seen more and more from this

January six investigation. Uh. And I think at this point there, we're going to be seeing more more potential revelations like this as the committee starts to make more of their investigation public. Only about thirty seconds left here, But despite the gap in the official log, we've heard from a number of witnesses who say that they did speak to the president during the time that's missing. So what does

that say about where this investigation could be going? Um, it means that they're going to have to figure out a different way to get at this data, figure out why it's not there, and figure out that if this was part of some cover up, what that means. I think there's a lot more digging to be done here, and this is definitely a story that we're going to continue to be following, certainly will be Bloomberg Government reporter

Emily Wilkins. As always, thanks for keeping us up to speed, and you can read more about all these stories on Bloomberg dot com or on the Bloomberg terminal, Bloomberg Radio in Washington. Yeah, you can listen to that at Bloomberg and one oh five point seven FM h D two and Karen, all right, Nathan, it has six fifty six on Walla 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 March thirtieth, here's Bloomberg's real need a young on this day in women's history. In nineteen eleven, Ellen Swallow Richards dies she was the first woman admitted to the Massachusetts Institute of Technology, earning her Bachelor of Science in eighteen seventy three. Two years later, Swallow Richards appealed to the Women's Education Association of Boston for their help in establishing a laboratory at

m i T available for instructing women in chemistry. So the Women's Laboratory opened in eighteen seventy six, so little. Richards became might t s first female instructor, teaching in chemistry and mineralogy in the Women's Laboratory until it closed in eighteen thirty three. Swallow Richards was also a chemist and founder of the home economics movement in the United States. That's today in women's history. I'm Nita Young Bloomberg Radio. All right, Nita, thank you, And futures are lower. SNP

Future is down about thirteen points this morning. Down, futures down seventy nine and nastag features down sixties six ten year treasury down three thirties seconds. He held two point for zero percent, and he yield on a two year or two point three two percent. Ninebeck scrude oil at a hundred six dollars eighty cents a barrel. Bloomber surveillance is straight ahead. And for Nathan Hagar on Karen Moscow, and this is Bloomberg