Bloomberg Daybreak: March 31, 2022 - Hour 2 (Radio)

encampments in the past two weeks plus. Bird Flew was spreading in the US. I'm Michael bar more ahead, I'm down Stash and fourth. The Nicks lost the Starlette at the Garden, the Rangers one in overtime at Detroit, and a surprising coaching change in the n at them. That's all straight ahead on Bloomberg Daybreak on Bloomberg ELEVENTREO New York, Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen

and around the world. Go on Bloomberg Radio dot Com and via the Bloomberg Business. Good morning. I'm Nathan Hager and I'm Karen. Moscow and US Dock Index futures are mostly higher this morning six oh one on Wall Street, and we checked the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, S and P futures are up four and a half points to down futures are a little changed, and Nasdaq future is up fifty eight. The decks in Germany's down about a tenth of a percent.

Ten year treasury up seven thirty seconds, l two point three two percent, and the yield on the two year two point to seven percent. And now I'm ex scrude oil is down more than six percent. Nathan, A right, Karen. We'll have more on the markets in a minute. First, let's get to the latest on the war. Ukraine says

ceasefire talks with Russia could resume tomorrow. This would follow negotiations in Turkey earlier this week that led to no ceasefire, but did have Russia saying it would de escalate near the cities of Kiev and Turnittiv. Pentagon spokesman John Kirby says it's less of de escalation and more like a repositioning. If the Russians were really serious about de escalating, and the way they spun this yesterday um that they're trying to take the pressure off, well, then send them home.

And that's not what they're doing, at least not yet kind of gone spokesman John Kirby and the defense officials in the UK say there are still significant Russians showing around her and have and they're holding positions to the east and west of Kiev despite withdrawing a limited number of troops. Meantime, Nathan, it looks like Vladimir Putin may

not be getting accurate information on the war. According to the White House, the Russian president has been misinformed by advisors about his military's performance in Ukraine and the effect of sanctions on the economy. Amy Morris has details from our Bloomberg ninety one newsroom in Washington. White House Communications Director Kate Bettingfield says they have information the Russian military

is deliberately misleading Putent. We believe he's being misinformed by his advisors about how badly the Russian military is performing and how the Russian economy is being crippled by sanctions. Because again his senior advisors are too afraid to tell him the truth, and betting Field says that's created persistent tension between Putin and his military leadership in Washington. I'm maybe Morris Bloomberg, Daybreak, All right, Amy, thank you. No,

energy prices have climbed sharply since the start of the war. Now, the Biden administration's weighing a massive release of oil from US reserves. Let's get the latest on that live from Bloomberg's RNDA Young. Good morning, Granita, Good morning, Nathan. Bloomberg sources say the White House is considering releasing about a million barrels of oil a day from US reserves for several months. The total release could be as much as

one eighty million barrels. Along with the plan comes a diplomatic push for the i e A to coordinate a global release by other countries. A final decision on that has not been reached yet, but Bloomberg sources say the White House may make an announcement on the US release as soon as today. Live in New York, I'm Ranita Young Bloomberg Day Break, All right, Nita, thank you, and

checking oil right now and night screwed. Oil is down more than six percent, down six dollars fifty four cents at a hundred one dollar twenty seven cents of barrel Bran is down more than five percent and a hundred seven dollars sixty eight cents, and the drop and Crewed is helping lift stock futures as we close out the last trading day at the first quarter, even with recent games, global equities are on track for their worst quarter in

two years, and Goldman Sachs Chief equity strategist David Coston warrants the upcoming earning season may weigh on stocks. It's been a particularly difficult quarter from a operational point of view for managements. You think about the first month of the year of January was largely overshadowed by Amicron, and then you had the higher rates that really kicked in in February, and then you have most recently the tragedy

in the war in Ukraine. So you have these events that have really impeded a lot of sales for for a lot of companies. Goldman Sachs Chief equities strategist David Coston sees less than a two percent game for the S and P five hundred the rest of the year, as Conston says, higher interest rates have certainly been a negative for stocks, and there's more to come from the Fed on that front. Richmond President Thomas Barkin says he's open to hiking rates by fifty basis points at the

next policy meeting. Come open to it. I think the question and will make this decision when we get to the meeting in May, is how strong does the economy does still look in terms of its ability to take great increases and how high is inflation persistent? So I'm looking at both of those and will make our call in May. Richmond FED Chief Thomas Barkin made the comments in an interview with Bloomberg Radio and Television. Meantime, Ester George wants to raise rates at a more moderate pace.

The Kansas City Fed president favors a steady approach. That's not an argument for stalling the removal of accommodation, but I do think it's suggests that a steady, deliberate approach for the path of policy will provide space to monitor developments there as they unfold. Until now, Kansas City Fed President Esther George had been among the more hawkish officials at the FED. Well, we turn to economic activity in Asia Now, Nathan, we're China's manufacturing activity contracted in March.

The slowdown came as authorities lockdown major technology and factory hubs due to COVID. Bloomberg Daybreak Asia anchor Bran Curtis has more the official pm I fell to forty nine point five, contracting for the first time in five months. That was lower than the estimate of forty nine point eight. The non manufacturing gauge slumped to forty eight point four, also below forecasts. China is battling its worst COVID outbreaks since the pandemic began. It's thought that areas covering roughly

of China's GDP are affected. Brian Curtis Sploomberg Daybreak, Thank you, Brian. Back here in the US, word of a data breach at Apple and Facebook. Sources tell Bloomberg Apple and Meta platforms provided customer data to hackers who masqueraded as law enforcement officials, and we get the story from Bloomberg's Charlie Pellett. Apple and Meta are said to have provided basics subscriber to details such as a customer's address, phone number, and I P address. In mid one, in response to the

forged emergency data requests, according to the sources. Normally such requests are only provided with a search warrant or subpoena signed by a judge. However, the emergency request don't require are a court order. In New York, Charlie pell Bloomberg daybreak. Okay, Charlie, thanks right now. S and P futures are up six points. So are Dow futures. Dance Act futures highed by sixty eight ten. Your treasury is up seven thirty seconds, the yield two point three two per cent. Straight ahead your

latest local headlines and to check of sports. This is Bloomberg in six or seven on wall streets. Starting to see some showers now forty seven degrees in central parks, so pretty quiet on the roads, out of the typical volume delays this time of the morning. We'll check with traffic shortly. First, Michael Bars here with more on what's going on in New York and around the world. Michael,

thank you very much. Nathan and New York City Task Force has removed almost two hundred forty homeless encampments over the past two weeks. It's part of Mayor Eric Adams strategy to clean up public spaces and connect people living on the streets with housing and social services. As if Mayor of all of us, including my homeless brothers assistants, I'm not leaving any New York is the We're moving together and that is the goal of what we must accomplish.

I'm not abandoning anyone. I'm not believing that dignity is living in a cardboard without a shower, without a toilet, living in terrible living conditions. Mayor Adams says more than three hundred homeless people have accepted social services. New York City COVID nineteen cases arising again, particularly among people to thirty four years old. The surge appears to be concentrated

in Manhattan, the most vaccinated borough. The New York City Department of Health posted a warning on Twitter saying they strongly recommend New Yorker's mask up indoors and get booster shots. A deadly strain of bird flu that's been raising egg prices ahead of Easter has been discovered in five New US states. According to the Department of Agriculture, the virus increasingly is threatening American poultry exports. The influenza was discovered

in Massachusetts North Carolina, North Dakota, Ohio, and Wioming. Chris Rock says he is still processing the Will Smith slap at the Oscars. Rock played before a sold out show in Boston last night. The fifty seven year old comedian got a long standing ovation from the crowd. Meanwhile, the Motion Picture Academy is now revealing that Smith was asked to leave the Oscars after he slapped Rock, but he refused. The Academy says it has begun disciplinary proceedings against Smith,

which could include expulsion. Actor Bruce Willis is stepping away from his acting career. His family says he has recently been diagnosed with aphasia, which is impacting his cognitive abilities. Dr Jagen Pollie is a cognitive neurologist at the Cleveland Clinics Center for Brain Health. There is a change in the linuage function of the person because of an online change happening the minuage part of the brain. Dr Polite told ABC ip asia can be caused by an injury, stroke,

or degenerative disease. Global News twenty four hours a day on air and on Bloomberg Take, powered by more than seven hundred journalists and analysts in more than a hundred twenty countries on Michael Barr, this is Bloomberg naked alright, Michael, thank you almost six ten on All Street time for the Bloomberg Sports. I think he's John Stenshower all right. Nathan has obviously been a much better season for the Rangers, and it's been for the Knicks. They'll be playoff hockey

at the Garden and not playoff hoops. And last night Rangers one Nicks lost their season high four game win. Speed came to an end. Charlotte be one fourteen. Miles Bridges scored thirty one points La Melo ball at twenty with fifteen assists, Evan Pod Game of the Knicks with thirty As for the Rangers, back and forth game in Detroit, or they didn't have to go on the power player flings the shot they score. Is it Crider or Cop at the doorstep? Crider took the shot. It's a power

play goal. We're sight at four Miller on the ice, Cop Panarin far circle, Pannaron, He's got cop, gets at the cop, shoots at scars and threw cop and over time how the Rangers went five four a VPN had at the time. Goal was by Chris Wider and that's his forty six of the year. The Rangers fourth grade win. Some coaching news, first from Seton Hall, where Kevin will

had recently left to take over at Maryland. Shaheen Halloway was willard Stop assistant first at IONA and then for eight years at Seton Hall, where Holloway was once a star point Guards. So Holloway might have gotten this job even if he hadn't just coached St. Peter's to arguably the greatest Cinderella run in m C Double A tournament histories. And no surprise, Holloway leaving the Peacocks stain in Jersey to coach the Pirate. Big surprise last night at a

Tampa Bay Bruce Arians stepped down. He's going to assist Bucks GM Jason Light to Odd Bowles, who was the defensive winator and before that, the head coach of the Jets takes over. The sixty nine year old Arians has had health health issues, but insisted that was not the reason for this move. John stash Award Bloomberg Sports, Nathan John Thank U s and P futures now up four point Staff futures down three, nastac futures up sixty. The ten year treasury yield two point three two up. Next,

the latest on the war in Ukraine. Bloomberg's Marie it Today, oh joins us from Budapest. This is Bloomberg. Good morning, Bloomberg eleven three oh Weather cloudy, breezy, some afternoon showers possible. Up for sixties for highs will be in the upper fifties Tomorrow, turning partly sunny and breezy. Mix of sun and clouds. Low fifties for Saturday. Right now forty seven 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 Tape. This is a Bloomberg Business clash and I'm Cameron. Moscow and energy stocks are dropping with oil prices as Investors Way reports at the Biden administration is considering a massive release of crude from US reserves to fight inflation. Stocks in Europe are sent for the first quarterly decline since shares ambiguous energy companies are declining in the pre market, while U S stock index futures are mostly higher. We checked the markets are

for fifteen minutes throughout the trading day on Bloomberg. SNP Future is up five and a half points this morning. Down Future is a little changed. Nasdack Future is up fifty nine. The decks in Germany's down a tenth of uppercent, the cat in Paris down three tenths per cent, and the foot See one hundred down two tenths of upper cent. The K to twenty five in Japan was down seven tenths per cent, and the Hanks sang in Hong Kong

fell one point one percent. Ten Your treasury a four thirty seconds c two point three three percent they yield on the two year two point to eight percent. Nimex screwed oil is falling down six percent or six dollars forty five sets at a hundred one dollars forty three cents of barrel. Comex gold is down four tenths per cent or eight dollars fifty cents at nineteen thirty forty announced and Bitcoin that will change at forty seven thousand,

two hundred nine dollars. That's a Bloomberg business flash. Now here's Michael Barrow with more on what's going on around the world. Michael Karen, thank you very much. Ukraine's president says his country's defense against the Russian invasion is at its turning point. Voldamerz Lensky again press the US for more hellp hours after the Kremlin's forces renegged on the pledge to scale back some of their operations. In the NBA,

the Knick, Celtics and Warriors lost, the Wizards won. Coach Heen Holloway is leaving St. Peter's for Seaton Hall, just days after helping the school make history by becoming the first fifteen seed to reach the n C Double A Tournaments. Lead eight in the NHL, the Rangers be the Red Wings and o T five four in the NFL. Former New York Jets head coach Todd Bowls would take over as head coach of the Tampa Bay Buccaneers. Bruce arians As decided to retire and is moving into the front office.

Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven under journalists and analysts more than a hundred twenty countries. Michael Barron, This is Bloomberg, Nathan, Thanks Michael. Where at sixth nineteen on Wall Street Live from the Bloomberg Interactive

Brokers Studios. This is Bloomberg Daybreak and our global team coverage of the war in Ukraine continues now with Bloomberg News Senior reporter for International Affairs, Mark Champion, back with us this morning. Mark, good to have you with us. Get us up to speed on the state of play right now. Well, you know, we had the peace talks which really lead nowhere. The Russians said that they would withdraw some troops in the north and step down operations there. Um.

That didn't happen, uh. And now we essentially are waiting for another round of talks, this time that will be virtual on Friday, to see if there's anywhere we can go. But essentially the Russians have made it clear that they have a goal in the east to take the rest of two provinces that there have been at war since UH two thousand fourteen. UH. And then also it's likely they'll want to keep a land corridor that they've already

more or less secured from Crimea into Russia. So it's it looks as though those things are gonna have, you know, going to be being decided on the ground even as these talks carry on. Now, we did hear from Pentagon spokesman John Kirby yesterday saying that Russia's promised to de escalate near the northern cities of Kiev in turn to have maybe more like a repositioning. Does that sort of

line up with what we're seeing on the ground. Yes, I mean in essence that the Russians have been digging their artillery and so on in around Kiev and in the north for the last couple of weeks, which was a change and signified that they expected to be there for some time. So they've been also rotating units up into Bilorus where they you know, came came down toward Kiev from um and uh, you know, partly because at this point of the war they just need to be

replenished and repaired. But you know what happens to them then some of them are being put onto trains. Um they you know, whether they go back to where they originally came from or around to the east to want to fight there. Um. You know, that's a question. We've also heard from the White House that they have intelligence that Russian President Vladimir Putin is actually being misinformed by his own military about the progress of the war in Ukraine.

Do we know anything further, But what's behind that intelligence? I don't think we do. You know, so far that the Americans have had pretty good intelligence. They've been right about most things, certainly in the lead up to the war, but exactly how they're getting that is not something that we're being is being shared. We're also expecting President Biden to make a pretty major announcement later on this afternoon about a massive release of oil from the Strategic Reserve.

We're hearing something like a million barrels a day. What's the potential impact there? What does it say about how this war could be progressing, at least the way the White House estimates in well, I mean, in essence, the you know, the U says as uh banned imports of oil from Russia, so as the UK, um, the really big importers have not. But the price of oil, you know,

is impacted. And what the US is essentially trying to do is just to reduce the blowback onto the US economy from the measures that are being taken to to try and uh, you know, constrain Russian revenues. Um. So we're likely to see more of that kind of thing, different different types of efforts in order to try and reduce the the the pain that inflicting sanctions on Russia

does cause to to to Europe and the US. And in our last thirty seconds here, Mark, there's been so much focus from the White House on a coordination with allies when it comes to Russian sanctions and punishments against Russia, when it comes to this strategic oil release. Is there any sign that we could get some kind of coordination

from other global players in the market. Well, the the International Energy Agency is trying to uh, you know, the uh do some energy diplomacy there in order to get a coordinated release, uh and to you know, to to impact the oil price that way. UM. So, yes, that that is going on. How successful it will be, we're not We don't know yet, and we'll be watching for that announcement from the President later on this afternoon. We'll bring it to you live here on Bloomberg Radio when

it happens. Mark Champion, as always, thanks for being with a smart. Champion is senior reporter for International Affairs for Bloomberg News. Right now, SMP futures are up four points, STOW futures are down four points. NASTAC futures are hired by fifty ten. Your treasury is up five thirty seconds, yield two point three two percent. The yield on the two year two point to eight. To get ready to close out what's likely to be the worst quarter for

stocks in two years. Up ahead, more on the oil release plans from the White House and looking ahead to the second quarter as we check the five things you need to notice. Start your day on Bloomberg Daybreak. Bloomberg day Break is brought to you by Ancient accountants and Advisor's challenging times call for proactive advisors who help minimize taxes, increased cash flow, and create opportunities for the future of your business. Visit Ancient dot Com broadcasting live from the

Bloomberg Interactive Broker Studio in New York. Bloomberg E Living free to Washington, d C, Bloomberg ninety nine one to Boston, Bloomberg one oh six one to San Francisco, Bloomberg nine six to the country, Sirius XM chto one nine team, and around the globe the Bloomberg Business app in Bloomberg Radio dot com. This is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning, I'm Nathan Hager. And I'm Cameron 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 ronto you by Interactive Brokers, Simple I d k our Global Trader app. Deposit in your local currency and trade stocks in the US, Europe and Asia. Start your free trial at ibk R dot com, Slash Global Trader up First. Ukraine says cease fire talks with Russia could resume tomorrow. This would follow negotiations that led to no she's fire but did have

Russia's saying it would de escalate. Pentagon spokesman John Kirby says it's less a de escalation and more like a repositioning. Some of those troops we assess a repositioning into Belarus. We don't have an exact number for you, but that's our early assessments. Uh, none of them, we have seen

none of them reposition to their home garrison. Pentagon spokesman John Kirby says the southern city of Mariopol is still taking heavy fire, and meantime, Karen, it looks like Vladom Reputin may not be getting accurate information on the war.

Here's White House Communications Director Kate Bettingfield. We believe that Putin is being misinformed by his advisors about how badly the Russian military is performing and how the Russian economy is being crippled by sanctions, because his senior advisers are too afraid to tell him the truth. Kate Bettingfield that the Wine House did not specify how the US got its intelligence on Putin. Energy prices have climbed sharp lazons

the start of the war. Nathan. Now the Bonding administration is wearing a massive release of oil from US reserves, and we get the latest lie from Bloomberg's reneed A Young. Good morning, Nina, Good morning, Karen. Bloomberg sources say the White House is considering releasing about a million barrels of oil a day from US reserves for several months. The total release could be as much as one eighty million barrels.

Along with the plan comes a diplomatic push for the i e A to coordinate a global release by other countries. A final decision on that has not been reached yet, but Bloomberg sources say the White House may make an announcement on the US release as soon as today. Live in New York. I'm Reneda Young Bloomberg Daybreak. All right, Nita, thanks in checking prices on Crewed right now, Nimex is down six percent on six dollars forty one cents at a hundred one dollars forty cents of barrel. Brent is

at a hundred six dollars eighty four cents. Global Equities meanwhile, you're on track for their worst quarter in two years. Aaron Kennon is CEO at Clear Harbor Asset Management. You know, I think we're heading into a stormy or weather over the next several weeks and perhaps months, and uh, I think investors are to be prepared for that. Aaron Kennon says the higher interest rates are a major headwind for stocks. And in corporate news this morning, we have word of

a data breach at Apple and Facebook. Bloomberg News has learned that Apple and Meta platforms provided customer data to hackers who posed as law enforcement officials. Okay, Karen, thanks, six thirty three on Wall Street where at forty seven degrees in Central Park and we have an accident in southbound Garden State Parkway. It's an overturned car Exit ninety 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 has dismantled more than two hundred encampments for homeless people. Mayor Er Academ says the task force over the past few weeks is trying to clean up public spaces and connect people living on the streets with housing and social services. This city is now engaged in a multi agency mission with compassion and caring taken out time. Not rushing through this, but being compassionate to people who are experiencing terrible circumstances

that they're living through. Many around him, says. Anyone removed from the encampments, most of which were in Lower Manhattan, was offered a voucher to pick up their items at another location. Donald Trump's son in law, Jared Kushner, is expected to speak today with the committee investigating the January sixth attack on the Capitol. The former president's daughter, Ivanka Trump, is also expected to eventually meet voluntarily with the committee.

Bird flu is spreading in the US. According to the Department of Agriculture, The deadly strain was discovered in five more states. States involved include Massachusetts, North Dakota, North Carolina, Ohio, and Wyoming. Since mid January, it's been found in twenty three states. The Motion Picture Academy has initiated disciplinary proceedings against Will Smith for slapping Chris Rock on stage at the OSCARS. Smith could be expelled. Meanwhile, Rock performed before

sold out crowd last night in Boston. This woman was there. He came out and he said, I'm still processing, like kind of what happened, but let's go on with the show. And like he was great. He's always great. The fifty seven year old comedian got a long standing ovation as he took the stage. The Family A movie star Bruce Willis announced that he will be stepping away from his acting career after he was diagnosed with aphasia. The condition

is impacting his speech and cognitive abilities. Dr Jagan Polly is a cognitive neurologist at the Cleveland Clinic Center for Brain Health. Diagnosis. Official is pretty broad on the same that basically says some a person has changes in their line wage function because I changed the animal plant. Dr

Poli told ABC. Iph Asia can be caused by an injury or degenerative disease Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts are more than a hundred twenty countries. Michael Barr, This is Bloomberg. Thanks Michael. Almost six thirty six on Wall Street Time for the Bloomberg Sports Update with John Stenshire. Thanks Nathan.

What a difference a year makes A year ago, the nixt minute sport in the East this season couldn't crack the top ten to get into the play in After home loss to Charlotte and ended their season five four game winning streak. NIX could be mathematically out as early as tonight. There coach Tom Thibodeaux last night Channel Yogi Barra.

Just keep concentrating on what we're doing, you know, get better and then you're not eliminated to you're eliminated, and then when you are think, you know, you assess what you want to get done. Rangers are getting ready for the Stanley Cup playoffs. They won their four the road type game in Detroit, already tied three different times and then after a Chris Cryder power play goal with less than four minutes ago Cryder's forty six goal the season.

The game was tied at four and the Rangers won five four on Andrew cop goal minute and a half into Oti. The only way the US men's national soccer team was not going to qualify for the World Cup was if they lost in Costa Rica by six goals. They lost, but only two dupings to the US is heading to Qatar in November. The US failed to qualify for the World Cup four years ago. Amazing to think that in the historically long career of Tom Brady, He's

only played for two coaches. He's now getting the third surprise move out of Tampa Bay, sixty nine year old Bruce Arians stepping down. He'll stay with the Buffs, but work in the front office will be replaced by defensive cordator Toad Bowls, the former head coach of the Jets of ten NFL teams, to have a new coach next season, to the surprise of No. One, Seaton Hall named Shaheen Holloway. It's new coach. Former star point guard, former Seaton Hall

assistant and just down the road at St. Peter's. Hollowey just coached the Peacocks at the n C double a the Eed eight Bloomberg Sports. Okay, John, thank you. At six thirty seven on Wall Street. Time to take a look at stacks and some of the names moving in the pre market. We're joined this morning once again by Bloomberg's Law Right, taking a look at the overnight action. Laura, good morning. Obviously we've been talking about the big slump in crude prices. On word there may be a major

strategic reserve release out of the US. What's that doing? Two oil stocks. I'm looking at two names, Occidental Petroleum Corp. Down two point seven five and Excen Mobile down two. Now, as you mentioned, the Biden administration is planning a massive release in strategic petroleum reserves to the tune of one million barrels a day, which could go on for months. The upper estimates are a release of one eighty marion

million barrels. Now, this is a combat combat rising gasoline prices and disruption to supply following the war in Ukraine. And we've been talking of course about the latest Chinese economic data, this slump in manufacturing. There are a lot of big tech names in the US that are exposed to that. Yeah, Apple up three three ten percent in the pre market this morning, and they also exploring new sources of memory chips, potentially a Chinese chip maker for

the first time. The world's most valuable company. They want to diversify suppliers to mitigate the risk of supply chain congestion. One of Apple's US based suppliers, Micron Technologies, selling offer on half of this half of a cent before the bell as a result, and Tesla will be learned their factory in Shanghai will be closed for another day. That said, Tesla shaking off negative headlines up four tents of a percent. Now we're seeing some pretty divergent movement when it comes

to domestic chip makers. Yeah, a m D is down two right now. This is an idiosyncratic move because Barclay's have downgraded their rating to equal weight from overweight now advanced micro vices. They Barclays believes that the growth trajectory is not clear and actually certain segments are running at elevated levels right now. And finally, I see your watching an influencer marketing company. I've never felt older, Laura. What does all have to do to be represented by I

d e? A worldwide pre market up? Almost it's a school company. Exactly, with a market cap just below ninety million dollars, and this quarter of the company reported record revenue. But whether we like it or not, influences here to stay Yeah, I guess okay, Laura right, Bloomberg News as always, thanks for keeping us up to speed on what's happening in the pre market on this final training day of the first quarter. Looking ahead to the open as a whole, Uh,

it's kind of flat actually. S and P futures right now up four points. Staff futures are down three. Nasdaq futures are higher by fifty four points. The tenure treasury up nine thirty seconds. The yield two point three yield on the two year two point to seven percent. That's a spread of just about three and a half basis points.

Much more to come, stay with us, you're listening to Bloomberg at daybreak Bloomberg eleven three oh Weather, cloudy, breezy, some afternoon showers, likely upper sixties for highs, Partly sunny, breezy Tomorrow, upper fifties will be in the low fifties

Saturday under a mix of sun and clouds. Right now, some showers and forty seven degrees in central park markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business at and at Bloomberg Quicktape, He's a Bloomberg Business lash and I'm Karen Moscow and nine night screwed. Oil is falling today, down more than six percent. Futures are mostly higher. We goin to the first word breaking news, dask for today's morning call, and

here's Bill Maloney. Bill, good morning, Hey, good morning, Karen. That's right. US futures quiet right now with doubt futures hired by seven points. SUPs gained six while nasdack futures are higher by fifties seven. He was ten year old at two point three two percent. Gold is down five and you mentioned oil. Oil is sinking on the report the US is considering a release from its reserves. Bigcoin is trading little change in Hong Kong fell one point

one percent overnight. What up? And markets are in the red this morning. Back in the US on the economic Fronda eight thirty initial jobs claims. And at Chicago p m I regarding earnings for walk rains to report in the pre market and another news people familiar said that Apple is in tops to source iPhone memory chips from

new suppliers wrapping things up. Andy was cut to equate over at Barkley's HP Inc. Was cut to underweight over at Morgan Stanley Live from the first Breaking newsdask on Bill Maloney care all right, Bill, thank you to hear live breaking news of your Boomberg type squalk on your terminalscue you a w K. That's a Bloomberg business flash. Now here's Michael Barrow with Moore on what's going on

around the world. Muchael, Karen, thank you very much. The White House says Russian President Vladimir Putin has been misinformed by advisors about his military's performance in Ukraine. Meanwhile, Britain's Defense Ministry says Russia continues to pound northern Ukraine. The chairman of the House committee investigating the January six attack on the US Capitol said the panel is considering subpoena ng former President Donald Trump's personal phone records. In the NBA,

the Knicks, Celtics, and Warriors lost. The Wizards won. College basketball coach Sheeen Holloway is leaving records setting St. Peter's for Seaton Hall and the NHL, the Rangers beat the Red Wings in OT five four. NFL head coach Bruce Arians has decided to retire and is moving into the Buccaneers front office. He's being replaced by defensive coordinator Todd Bowles,

the former head coach with the Jets. Global News twenty four hours a day on air and on Bloomberg Quick Take Howard by more than twenty seven under journalist and analysts in more than twenty countries. I'm Michael Barr. This is Bloomberg. The following commentary is from Bloomberg Opinion Learning.

I'm Jonathan Bernstein, a columnist from Bloomberg Opinion. I'll be attending a political science conference next week, and I'll be looking to learn about at least three topics I feel I could use some help with public opinion about the economy. Some of what is driving pessimism about the economy is a bad case of inflation. There's also knee jerk partisanship. But given the robust job market and healthy growth numbers, the popular view that the economy is terrible still needs

some additional explanation. Set of Republicans have blocked plenty during the current Congress, but perhaps they're not quite as flat out obstructionists as I had expected. So what's happening? Have they actually backed off some? If so, why and what does that tell us about how future sentence might act and how that would matter to policymaking. Some groups of political scientists have found fresh ways to use historical data.

What I'd like to learn more about is whether there's anything in earlier U history they can help explain Donald Trump and trump is um, especially as a challenge to democracy. I'm Jonathan Bernstein. For more opinions, please go to Bloomberg dot com, Slash Opinion or OPI n go on the Bloomberg terminal. These has been Bloomberg Opinion and Bloomberg Opinion commentaries can be heard every weekday at this time, and terminal customers can read more at O p I n go.

It is six fifty on Wall Street, and we turned to news and science and technology now with the Bloomberg and j I T STEM Report, 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. Not e d U I know, here's

this making news and science, technology, engineering, and math. Astronomers have discovered the farthest star yet, a super hot, super bright giant that formed nearly thirteen billion years ago at the dawn of the cosmos. But this luminous blue star is long gone, so massive that it almost certainly exploded into bits just a few million years after emerge ng Its swift demise makes it all the more incredible that an international team spotted it with observations by the Hubble

space telescope. The study appearing in the journal Nature. Bloomberg News has learned Apple is developing his own payment processing technology and infrastructure for future financial products. It's part of a plan to reduce its reliance on outside partners over time. A multi year plan would bring a wide range of financial tasks in house that includes payment processing, risk assessment

for lending, fraud analysis and credit checks. And the Securities and Exchange Commission is added by to to a growing list of companies that may get kicked off American stock exchanges because of Beijing's refusal to permit US officials to review their auditor's work, and as a Bloomberg and j

I t Stem report. Nathan thanks Karen We're live from the Bloomberg Interactive Brokers studios, where it's just about six fifty two 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 the White House saying Putin may have been misinformed by his own advisors on the war in Ukraine, the Biden team expected to lift pandemic era immigration restrictions, and the January six Committee weighing a

subpoena a former President Donald Trump's personal phone records. Also making news, the White House considering a massive release of oil from the Strategic Reserve to combat inflation. For more, we're joined by Bloomberg Government congressional reporter Jack Fitzpatrick. Jack, how massive are we talking here? This would be historically large. Our colleagues reporting, uh that you haven't had an announcement yet, although the President is supposed to talk about this at

one thirty this afternoon. But the discussions that have been had so far are about a million barrels a day roughly, uh, and up to a maximum total number of about a hundred eighty million barrels. Keep in mind there about a five hundred sixty eight million barrels total in the Strategic Petroleum Reserve, So we're talking about roughly a third of the oil the US has on hand in that reserve.

This would obviously not be something that could completely rearrange the structure the structural issues of oil and natural gas availability in the world. But keep in mind, uh, you know, the expectation for the second quarter is that supply would be short of demand for roughly eight hundred thousand a day. So if they're putting out a million barrels a day or so, it's the kind of thing that we've already seen could make a difference in oil prices and at

least in the short term, make a significant difference. And it's the kind of thing Jack that I think maybe it's it seems as all the White Houses acknowledging that, yeah, inflation is really having an impact. There are political considerations here for this kind of announcement. Yes, the price of gasoline obviously is forefront on a lot of people's minds.

The White House knows that, uh. And also remember that the Strategic Petroleum Reserve, as sort of a short term measure, often does reflect political concern They've already directed on two Asians in the past few months releases, smaller releases, but in the tens of millions of barrels of of oil. So this is sort of the short term way for the White House to flip a switch. It doesn't address everything,

but it does show them taking action. And in this case, something like a hundred eighty million barrels total would be a pretty significant amount of oil. And in the meantime, Jack, we're hearing even more explicit signals from the White House about how it thinks the war is going for President Putin, the kind of intelligence that the White House is continuing

to unroll here. Yeah, the description yesterday by Kate Bettingfield, who's the communications director for the White House uh says, she said that the White House is information that Putin felt misled by his own people, his own Russian military, about what the expectations would be in Ukraine, how this would go, what the capabilities were of the Russian military. Uh they haven't said on the u S side, where

did that start, who exactly misinformed whom and when? Uh So this may be somewhat of an obvious reflection of what we've seen that clearly things are not going the way Vladimir Putin expected but that really is the the White House line on this, that Putin was not given the right information and that at this point he he feels that he was misled by his own advisors. Only about a minute left here, Jack, the House January six committee maybe looking to fill in a big gap in

the White House phone log. Yes, there's an hour's long gap from official White House phone calls on January one. Benny Thompson, the chair of the House committee that's investigating what happened on that day, said that does not align with their understanding of the conversations then President Trump had with lawmakers and other people. There is a possibility, he said, that they would subpoena Donald Trump's personal phone records. That would be a very significant step forward in one they

they are considering. Thanks for this, Jack, and to have you with us, Jack Fitzpatrick, Congressional Order for Bloomberg Government and you can read much more about these stories on Bloomberg dot com or on the Bloomberg terminal. And as a reminder, follow all the latest on Bloomberg Radio in Washington, Bloomberg and Wild five point seven FM HD two. Karen Very Nathan, thank you well. At six fifties six on

Wall Street. And this is Bloomberg day Break, and March is Women's History Month, and every day this month we are celebrating significant moments in women's history. And now with your installment for March thirty one, here's Bloomberg's Really to Young on this day in women's history. In eight women's rights activists their join Or Truth and Susan B. Anthony were among key women who established the National Council of Women of the United States. It's the oldest American non

sectarian women's organization. The group was comprised of several women's voluntary organizations with common interests in the educational, political, and social rights of women. The primary purpose of the National Council of Women in the US was to act as a clearing house or information bureau for its members so they can broaden awareness of each other's activities and so they could collaborate better, reducing duplication of efforts. That's today

in women's history. I'm rened a young Bloomberg Radio. All right, Reny to young, thank you futures this morning. Little change now as in p futures again that will changed up therely three points now future is also little change and nonsday futures up about forty eight nine x screwde oil falling down six point six percent, now continuing to extend its decline, down seven dollars thirteen cents at a hundred

dollars seventies cents and barrel. And we'll continue to watch CREWD Bloomberg surveillance for Tom Keene, Jonathan Farrell, and Lisa Abrama. It's for Nathan hager On Karen Moscow, and this is Bloomberg