Bloomberg Daybreak: March 8, 2022 - Hour 2 (Radio)

and executive order regulating cryptocurrency. Michael Larger, More ahead, I'm John stas Shower and sports, A big night for Julius Randolly led the next the Victory and Sacramento the Islanders lost to Colorado. That's all straight Ahead on Bloomberg day Break on Bloomberg Elementary on 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 Old on Bloomberg Radio dot Com and via The

Bloomberg Business. Good Morning, I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak brought to you by Interactive Brokers Simple i b k R Global Trader app. Deposit in your local currency and trade stocks in the US, Europe and Asia. Start your free trial at I b k R dot com, Slash Global Trader and US futures are higher this morning after the biggest one day loss for stocks since it

is six o one on Wall Street. We checked the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, SMP futures are out fifteen points down, Future is up eighty NASDACK futures up twenty one. The decks in Germany's up six tenths of percent ten. Your treasury down nineteen thirty seconds. You have one point eight four percent, and they yield on the two year is at one point six zero percent. NIMEX screwed oil is up two

point eight percent at two dollars sixty seven cents of barrel. Nathan, Okay, Karen, We'll have more on the markets in a minute, but first, the latest on the war in Ukraine. Russia is threatening to cut off down tro gas supplies to Europe through the Nord Stream one pipeline fence in response to sanctions for the US, Europe and their allies. Russian President Vladimir Putin says the war will continue until all his demands are met, but Ukrainian President Vladimir Zolenski says it's not

that simple. This is another ultimatum and we are not prepared for ultimatums. What needs to be done is for President Putting to stop talking, start the dialect, instead of living in the informational bubble without oxygen. I think that's why he is Ukrainian President Zolenski spoke to ABC News. Russia and Ukraine say they will talk again today about establishing humanitarian quarters for civilians. The head of the u n's refugee agency says the number of people fleeing the

fighting has now topped two million. Meantime, on Capitol Hill, Nathan lawmakers are working to ramp up pressure on Moscow. They've come up with a plan to ban in boards of Russian oil into the US. Amy Morris has details from mar Bloomberg newsroom in Washington. Biden administration officials have been working out what the economic repercussions might be for U S cons sumers. The agreement would also give President Biden the power to boost tariffs on other imports from

Russia and Belarus. It would seek a suspension of Russia's participation in the World Trade Organization. The White House has been noncommittal. White House Press Secretary Jen Psaki says no decision has been made yet. The best thing we can do is reduced our dependence on fossil fuels and foreign oil so that we're not worried about gas prices going up because of the whims of a foreign dictator. The House of Representatives could vote on the proposal as soon

as tomorrow in Washington. I maybe more as Bloomberg daybreak right, Amy, thanks, Once again, we're seeing major market moves tied to the war in Ukraine. Let's get the very latest from Bloomberg's

John Tucker Live in New York. John Nathan disruption to energy markets and brought her uncertainty sent the down, Jones and dustrial lanverage down two point four percent in Monday's session, SMB five lost nearly three percent, the NAZAC got pummeled down three point six per Well, this morning, some risk sentiment has returned the stocks and you're up along with US futures. After we reported that the European Union is considering joint bond sales to help counter the fallout from

the war. Our sources say the bond sale proposal may be presented as soon as next week. On another front, the London Medal Exchange halted trading in its nickel market after an unprecedented price bike left brokers struggling to pay margin calls live in New York on John Tucker Bloomberg Day Break. All right, John, thank you. The oil prices are searching again this morning. If penalties hit Russian crew,

there's likely no way to replace that production. That's according to OPEC Secretary General Mohammed Barkindo, how do we survive this crisis? There is no capacity in the world at the moment that country place seven million barrels of exports.

OPEC Secretary General Mohammed Barkindo describes Russia's war against Ukraine as a humanitarian tragedy and checking prices now nine ex screwed oil is a two point nine hundred five cents of barrel is up three point one percent at a hundred twenty seven dollars a barrel, and gas prices have surged over the past two weeks. Karen, that's causing pain at the pump, but drivers say they'd be willing to pay even more if it would end the war in Ukraine.

We get the details from Bloomberg's Lisa Mateo. Gas prices are soaring, but many drivers are saying will pay more at the pump. That's according to a Quinnipiac poll, which found seventy one percent of Americans would support banning Russian oil even if it leads to higher gas prices. The national average for gas has reached four dollars and seventeen cents a gallon, according to Triple A. That tops the nationwide monthly record of four dollars and ten cents set

back in two thousand and eight. In New York, I'm Lisa Mateo Bloomberg Daybreak, Right, Lisa, thank you well. As we're rages in Ukraine, top US intelligence officials are coming out with their annual threat assessment. The Office of the Director of National Intelligence sees a grim global outlook thanks to Russia and China. Bloomberg's Reedy Young joins US Live with the details. Good Morning, Ready Down, Good morning, Karen.

The threat as Smith says China is developing one of the greatest nuclear weapons forces in history, while Russia will exploit every opportunity to undermine the US and its allies. The nation's top intelligence chiefs will testify about their report

before the House Committee today. The assessment is used by Congress as a baseline to make critical decisions advanced legislation and craft budgets, but since it was written before Russia invaded Ukraine, lawmakers will likely press intelligence chiefs for the most current assessments during today's hearing. Live in New York, I'm reneed a young Bloomberg Daybreak, Nita. Thanks. When it comes to the assessment for markets, it's all about the fallout from the war and the future of FED policy.

The Fed meets one week from today. Morgan Stanley CEO James Gorman says the Central Bank should still start rate hikes despite the war. Speaking in Sydney, he said the Fed needs to contain prices but also be careful not to tip the economy into recession. Well. In corporate news, Apple is holding its first product unveiling of twenty two. The event Cake software is expected to be its biggest

year ever in terms of new devices. The company is poised to announce its first low cost iPhone SCU with five G capabilities, a new iPad Air and updated Max with Apple made ships. Again, futures are higher this morning and straight ahead your latest local headlines, plus a check of sports. And this is Bloomberg. He's scaring six seven on Wall Street, forty degrees in Central Park. The Morris exis Gladstone branch of New Jersey trans It's still suspended.

The tails coming up in traffic. First Michael bar with more on what's going on in New York and around the world. Good morning, Michael, Good morning Nathan. New York City is preparing for the possibility of a cyber attack by Russia. The city's chief Technology Officer, Matthew Fraser says it could happen. We see the rights pop up periodically, though specifically associated to this heightened sense. We've seen an uptick um, but we're not aware of any campaign that's

explicitly targeting the city itself. Tech officer Frazier says New York is on the old tra high alert following US and posed sanctions against Russia for where its ongoing invasion of Ukraine. The fear is Russia will try to retaliate. The NYPDS Deputy Commissioner John Miller. Weget that we're in a heightened threat um and we have been gearing up for that heightened threat to come along from our normal high alert to ultra high alert, and that's where we

are the NYPDS. Miller says it's best to be ready just in case a homegrown terrorist strikes. President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded. The move comes as administration officials have raised concern in recent weeks about Russia's use of

cryptocurrency to evade the impact of crushing sanctions. Tens of thousands of customers are without power in New York and New Jersey after a line of severe storm swept through the northeast. This man and Cedar Grove, New Jersey, spent the night at a neighbor's house after a tree alongside his home cut off his power and blocked his front door. Started rain, heard then all of a sudden, it sound like train went through and the wind was how and then he says they're waiting to see whether they can

safely return to their house today. Jerry's selection begins today at the trial of four men who are accused of conspiring to kidnap Michigan Governor Gretchen Whitmer. The government says the men were upset about Whitmer's SCOVID nineteen restrictions, but defense lawyers claimed the four were groomed and cajoled by federal agents and informants. The CDC raised that SCOVID nineteen travel advisory for Hong Kong by one step to level four are very high, as the city's death rate is

now the highest in the world. 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 bar this is Bloomberg, Nathan, Thank you, Michael, almost six cent on moll Street. Time for the Bloomberg Sports Update with John Sinshower. All right, Nathan, biggest reason the Knicks so much better last season than

this one. Julius Randall was so much better last season, and last night Randall was as good as he's ever been. Career high forty six points. He made eight three pointers and the Knicks turned the table. Somebody blown leads lately. This time they made the comeback from twenty down. They wanted Sacramento one one fifth team. The Knicks had their first two game winning streaking nearly two months. San Antonio beat the Lakers, who were playing without Lebron James. Gregg

Popovich ties Don Nelson's record for most coaching day. The Islanders welcomed in the NHL's best team. Colorado moved thirty games over five hundred, scored four goals and a span of less than four and a half minutes the third period, then held on beat the Islands five to four. March Madness Championship of the Southern Conference Tournament. One time, Bothwell drive all the way in his layoup is far with four point three seconds Laft David Jean Battis drives goes

up three point on the way. The US call on Learfield chatt Erga Beef Ferman sixty four sixty three and over time. The Calvin Ridley story and not all that surprising considering the growth of sports betting, now legal in many states, so accessible with a touch of the phone. Ridley the Falcon star wide receiver admitted to making bets on NFL games, including bets on his team to win, although they were games he was not playing in regardless hit with a suspension of at least all of two

it will cost Redley eleven billion. John Stallard bloomboo spoort Okay, John, thanks right now. SMP futures are higher up fourteen points, sound futures up eighty six dants AT futures on the rise by nine points. The ten Your treasury is down twenty one thirty seconds. The yield one point eight four per cent reaction to the market moves on the Warren Ukraine. Next with a Leisha levine of the n Y Melon. This is Bloomberg coming up to six twelve on Wall Street.

Bloomberg day Break is brought to you by Audie. Don't let someone else drive off in the outie model. You've always wanted. Visit your tri state area autie dealer to get behind the wheel of yours today. Visit Autie offers dot com, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com and Bloomberg Business at and at Bloomberg Ticktape. Chris is a Bloomberg business lash, and I'm paren Moscow. We're seeing stocks in Europe trimming

their advance, and so our Nasdack futures. We check the markets every fifteen minutes throughout the trading day. On Bloomberg SMP futures remain higher, up eleven points down futures up sixty five. On Nasdack futures are lower, little change now down about five. The decks in Germany is up half per set. Can your treasury down to twenty one thirty seconds?

He had one four percent. They yield on the two year one point six one percent nine Extrade oil is up two point nine percent of three dollars fifty five cents and a hundred two eight cents of barrel comics. Gold is up nine tenths percent, or eighteen dollars thirty cents at an ounce. The euro one point eight nine six against the dollar, British pound one point three one one six, they nsit one fifteen point six six, and Bitcoin this morning is moving higher, up two point seven

percent at thirty eight thousand, eight hundred sixty dollars. That's a Bloomberg business flash. Now here's Michael bar with more unless going on. Around the world. Michael Karen, thank you very much. Russia's top energy official threatened to cut off natural gas flows from the North Stream one pipeline. It escalates economic tensions with Europe as the war in Ukraine continues. Russia and Ukraine have said they will continue to hold talks on a potential ceasefire, although a third round of

discussions produced little progress. US drivers are out paying more for gas lane than in any other time in history as demands surges and the war in Ukraine threatens global oil supplies. According to Triple A, the average pump prices in the US are now more than four dollars seventeen cents per gallant. California prices have surged to five dollars

forty four cents a gallon. In the NBA, the nixt one, the Warriors lost in the NHL, the Islanders lost, the Bruins lost in ot to the King's Three to Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than twenty seven hundred journalists and analysts in more than a hundred twenty countries. I'm Michael Labar, this is Bloomberg. Nathan. Thanks Michael six nineteen, now on Wall Street Live from the Bloomberg Interactive Brokers studios.

This is Bloomberg Daybreak and Alicia Levine is with us now head of Equities and Capital Market Advisory at B and y Melon Wealth Management, as we try to make sense of the violent market moves have been single the last few days on the latest headlines coming out of Ukraine. Alicia, good morning. Of course we're kind of off a big sell off in equities yesterday. Do you think this market hit capitulation? Good morning, Nathan and Grace to speak to

you again. Look, I don't think we're at that capitulation moment just yet. Um, the fear and loathing is not quite there. The vix high as it is, really hasn't gone to a place which would really signal capitulation. And the other thing is the market just bouncing around in this kind of like this range between hundred. It's still in that range. It's really disconcerting is that range has been skewed to the downside and and the upside seems to be more limited, which suggests we have more to

go on the downside. We're not there yet, and I think we're gonna more ugly days ahead of us before this is done. I don't I don't think this is fatal for the year. I just think that we're in a tough spot with all the uncertainty and the commodity price inflation. It does seem kind of weird. Ask what your outlook is for the rest of the year, given how much gyration we could see over the next few days and weeks. But I'm gonna put the question to you.

Are you adjusting your outlook for the SMP for the rest of this year based on what's going on? So look, we we we are. Target is has does have a wider range. It is due to the downside. We see most of the risk really in the first half of

the year. The Russian the Russian war with Ukraine added to the kind of uncertainty that we faced in an already squeamish market that was overvalued and worried about bed tightening with with some of the dynamics of inflation and fears of margin compression with US, and so this just made it worse. And it's also hard to model because

it could change it any day. I think the biggest risk is really in the first half of the year, But we think ultimately, as long as the US doesn't go into recession, our base case is no recession, and therefore we see the market really stabilizing by midyear into the second half of the year. But it's a lot to get through in the next few weeks. You have to have a strong stomach. You can also pick up

stocks here. You know, everything is getting thrown out with the bathwater, and so you want to be, you know, careful. But stocks that have had their multiple, their multiples come crashing down with good businesses um that have some pricing power to be pretty interesting here. So it's really tough to buy in a market like this. But this is also what we've learned that you buy when things really

look terrible, and things do look pretty scary. Well, if this is turning into a stock pickers market, Alicia, what sectors are you looking at outperform right now? Look, it's tough. I mean I would I would, I would tell, I would tell most of your listeners. We I think we still have a ways to go on the downside here, So that's a tough one. But I there's several sectors, for instance, even though we're we are concerned about the low end consumer between gas prices to also the withdrawing

a physical stimulus. We're worried about the low end. We think overall, if you look at the entire consumer picture, consumers in not bad shape, and we think a greater share of wallet is going to go towards travel and leisure. And in the last week or so, the travel and leisure stocks have really gotten decimated, So I mean, I think that's a place to look um. And obviously, energy we think will be a long term trend here. Hard

to buy in the spice. Don't go run in and buy you know when oil is up in three weeks. But we do think that the picture around oil, the supply shortage, greater demands, will be upward pressure on oil prices, and therefore energy should do pretty well. We think some of the staple companies still look good. You know, we do see the low and consumer trading down to private label. Um, so some of those staple companies will do fairly well.

And this is gonna sound very counterintuitive, but the banks have gotten decimated down mostly that you're to date, and and therefore, you know, if we're not going into a recession and defended hiking, some of the banks could be interesting here, so you know there, and of course defense defense spending in the US is probably going up eight percent in the next year in the new budget, and that also will be long term trend for for defense spending.

You know, you really have to think of this moment as a regime change, higher inflation, higher defense spending, and I think in some way some of those companies that you know, our our our fathers and our grandfather's invested in will be some of the ones that will do well coming out of this. Great to have you on this morning, Alicia, Thanks for this, really appreciate it. Alicia Levine, head of Equities and Capital Market Advisory at b n

y Melon Wealth Management. Looking ahead to the market, open futures are looking a bit higher at the moment, SMP futures of fourteen, down futures of ninety two points, and ASTAT futures are just a touch higher up eight point. You're listening to Bloomberg Daybreak, and Bloomberg Daybreak is brought to you by the Jewish Communal Fund JCFS. Donor Advised Fund is the smart choice to manager, philanthropy, maker, giving,

organized and tax efficient. Visit j c F and y dot Org broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedland to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco Bloomberg and M sixteen to the country Sirius XM to A 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 of

Nathan Hagar and I'm Karen Moscow. We're just about three hours away from the open of US trading. It's time for the five things you need to notice. Start your day Rozzy you by Interactive Brokers. Interactive Brokers charges Martin loan rates from zero point seven five percent to one point five eight percent rates subject to change. Learn more at ibk R dot com slash compare. We begin with the war in Ukraine. Moscow is threatening to cut off

natural gas supplies to Europe. That's after a third round of toss between Russia and Ukraine failed to make progress.

Bloomberg's at Baxter has the latest. Russia says it has heard nothing from Ukraine that would make a change direction, and Ukraine's President Volatimer Zolensky, in an exclusive ABC interview, says Russia just wants to make threats and issue ultimatums and then talking about Vladimir Putin through a translator, not the dialog, instead of living in the informational bubble without oxygen.

I think that's why he is. And U S Secretary of State Anthony Blincoln has again rejected the plea for a no fly zoh and saying it could lead to widening the war in San Francisco. I'm at Baxter Bloomberg Daybreak, all right, and thanks the developments at a Capitol Hill as well. Congress has announced the outline of a bill to our imports of Russian oil to the US. The House could vote on the proposal as soon as tomorrow. On Wall Street, US futures are higher after yesterday's sell off.

We get the latest live with the Bloomberg's John Tucker, John Karen Sentiment hands the improved on the heels of our report that the European Union is considering joint bond sales to help counter the fallout from Russia's invasion of Ukraine. The possibility for the Central Bank stimulus lifting sentiment. In yesterday's session, stocks were pummeled, with an AzaC tumbling over

three and a half percent. Meantime, the London Metal Exchange suspended trading in nickel after a short squeeze drove the medals priced to more than double Live in New York. I'm John Tucker, Bloomberg Daybreak, John. Thanks, there's more paint at the pump this morning. US drivers are now paying the most ever for gas. Average prices have hit four doll their seventeen cents a gallant. Turple A says that's the highest in records going back more than twenty years. Well,

it's more rages in Ukraine, Nathan. Top US intelligence officials are out with their annual threat assessment, a grim global outlook thanks to Russia and China and Bloomberg's we need a young joints US Live with the details. Good morning, Nida, Good morning Karen. The threat assessment says China is developing one of the greatest nuclear weapons forces in history, while Russia will exploit every opportunity to undermine the US and

its allies. The nation's top intelligence chiefs will testify about their report before the House Committee today but since it was written before Russia invaded Ukraine, lawmakers will lifely likely press them for a more current assessment. Live in New York, I'm gonna need a Young Bloomberg daybreak. Okay, we need to thank you. Six thirty three on Wall Street, forty degrees in Central Park. Still dealing with the suspension the New Jersey Transits Morris Excess line. The tails coming up

in traffic. First Michael Barr with mar What's going on in New York and around the world. Good morning, Michael, Good morning Nathan. Officials say Russian cyber attacks against the US are reality. The United States could be targeted and italiation for the sanctions levied against Russia for its invasion of Ukraine. Major cities like New York City are beefing up security. Senator Kristian Gilbrand of New York says the

level of risk is very high. Russia's military attack on Ukraine's cities and buildings have happened in conjunction with cyber attacks waged on Ukraine's critical infrastructure, from its banks to departments of government, and there's no guarantee that those attacks will be limited to Ukraine. Senator Kristian Gillibrand. The NYPD

says the city is on ultra high alert. President Joe Biden lands to sign an executive order on cryptocurrency this week in a step toward regulating how digital currency is trained. Administration officials are concerned about Russia's use of cryptocurrency to evade the impact of crushing sanctions in response to its invasion of Ukraine. A bill making lynching a federal hate crime is headed to President Joe Biden's desk for his signature. The Senate passed the him At Till Anti Lynching Act

Senate majority of Leader Chuck Schumer. After more than two hundred failed attempts to outlaw lynching, Congress is finally succeeding in taking the long overdue action by passing the Emmett

Till Anti Lynching Act. Senator Schumer says the bill is named after fourteen year old Emmett Till, who was lynched in Mississippi in nine In a victory for Democrats, the Supreme Court has turned away efforts from Republicans in North Carolina and Pennsylvania to block state court ordered congressional districting plans. The justices are allowing maps elected by each State Supreme

Court to be an effect for the two elections. Members of the Congressional Black Caucus met with President Joe Biden about the release of w NBA star Brittney Griner, who was recently detained in an airport near Moscow. Congresswoman Sheila Jackson Lee of Texas represents the district where Grinder is from. We know that we have to move on her situation, and she is in a circumstance that would generate a ten year sentence. Many of us believe that this is unwarranted.

Thirty one year old Grinder was arrested in Moscow after customs officials reportedly detected cannabis soil in her luggage. Global News twenty four hours a day on air and on Bloomberg Quittake, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael bar this is Bloomberg. N okay, Michael, Thanks six thirty six on Wall Street. John Stash I was here at the

Bloomberg Sports update. Are Nathan nicks off the win over the Clippers that ended the seven game who stream one night later moved North, fell behind and then last year's all Star led them Backs can take their first lead to the game with a three rad Let's it fly and hits for the right wing, and the knick Swans down twenty have come back. They lead. It's Sacrabato Randall at the left wing steps out great pointer got Julius

Randall with thirty five points. She's matched the season high WPN and it calls the Knicks fight the King's one thirty one to one fifteen. They scored forty four points the third quarter in Randall, who was so good last year, not nearly as good this season. Finn It's with a career high forty six points. R J. Barrett had at twenty nine emmanual quickly at twenty seven. The u B s Arena wild third period, Colorado scored four goals in the span of just over four minutes and led five

to one. The Islanders rallied at the league leading Avalanche held on win five four nows A lost five or the last seven. The Seahawks of Wagner College, with a win tonight in Smithfield, Rhode Island, over Bryant College will win the Northeast Conference Tournament and advanced NCY double as Manhattan plays Wider in the MAC Tourney in Atlantic City in the a CEC Tournament against tonight at the Parkment Center.

Jets owner Woody Johnson now wants to buy Chelsea FC of the English Premier League, currently owned by a Russian Oligarth. The price tag said to be about two and a half billion dollars. If it's Tuesday, it must be time to cancel. Another week of the baseball regular season. Happened week ago. It will happen again tonight if there's no lockout Indy Labor deal. The owners did up the number

for a competitive balanced pack. The big Game sash that where Bloomberg's feels okay, John thanks at six thirty seven on Wall Street. Let's get more now and what's happening in this morning's market. Bloomberg television anchor and markets reporter Danny Berger is with us now and Danny, we were just talking with Alicia Levine a few minutes ago from ben Y mel and she says, you need a strong stomach to be in this market right now. It sure

feels that way, Yeah, it definitely does. I kind of get the feeling that day after day we look at some new asset that has moved parabolic and kind of this feeling that you know, things are breaking today. It was certainly the turn of nickel on the elm um that did have trading suspended, but it does just feel like we're in this environment where an asset is having crazy moves everywhere you look, right. I mean you I've seen it almost described as like meme stock moves in

some of these commodities. I mean, what's the react action from a lot of the market participants you've been speaking to about what we're seeing not just a nickel but this ongoing surgeon oil right now, I think across all of these assets. When you see moves to this extent, it comes back to this concern about liquidity in the market. Um, when you have all these strange things happening, not being able to trade Russian assets, when you have oil, natural gas,

all of them hitting these new highs. Um, they're concerned about how many people are actually willing to step in and trade them, what counterparty risk looks like. And often these concerns become a feedback loop where you have more volatility and it causes more people to step back from the market, and that's when you get these really, really

painful moves that we've been seeing. So it's a long winded way of saying there's just a lot of fear taking place in this market, although we are starting to see futures move up. Just a touch on word that Bloomberg News is reporting that Europe could put out this massive bond sale to fund its energy and defense needs in the future, is that's sort of giving some stabilization into the market, at least at the moment. Yeah, at least the moment we are off some of the highs

in Europe. UM. It is at the end of the day a form of stimulus which the market is taking well. UM. Some of the rally though, might be people stepping in UM as an excuse to buy the jib jame fully over. Rabobank told us earlier that there needs to be more that this can be enough to sustain a rally, But at the moment you do see things like banks performing better, really the different sectors that have been the most oversold.

So it does seem like some of that by the dip crowd is using this to come in and buy up some cheap stocks, and we are seeing that play out in markets right now. Bloomberg television anchor and markets reporter Danny Burger, Thanks for coming on with us this morning to take a look at what's happening as we do see SMP futures moving just a bit higher now up sixteen points. Now futures up a hundred five and Nasdaq future is little change to hire their up twelve

points right now. Send your treasury now down nineteen thirty seconds. The yield one four sent the yield on the two year one point six one. The surge in oil prices continues, with NIMEX screwed up two point nine percent a hundred twenty two dollars eighty two cents a barrel. The latest developments from Washington, where Congress is considering a ban on Russian oil imports. Wendy Schuller Brown University joins us. Next,

This is Bloomberg. Bloomberg eleven three oh Weather sunny, breezy, upper forties today, light snow tomorrow morning, turning into light rain by late in the day. Hides in the upper thirties will be back near fifty by Thursday. Right now forty degrees in Central Park. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quicktake, this is a Bloomberg Business lash and I'm par in Moscow and futures are higher.

This morning we get the first word breaking news dash for today's morning call. Here's Bell Loney Bill, Good morning and good morning Karen. Us features are posting modest games right now with theat futures of eighty point sessidies Game thirteen well nastic futures are hired by six. The US ten year at one point eight four percent, Gold is up nine, oil is climbing, and bitcoin is up by

three percent. Japan fell one point seven percent overnight, while your pre markets are in the green, led by two percent gains in Italy and Spain back in the West. On the economic front, at ten o'clock, Coastale inventories and the Deal news, Google to buy mandy It for twenty three hours a share. In other news, the Elmi Halton nickel trading after a two fifty percent spike, and China is considered buying more. Increasing stakes in Russian energy and

commodity companies grabbing things up. Bank of America is raised to neutral at bar Jefferies raised Caterpillar to buy Live from the first to breaking news TASCM Bill Maloney. Care all right, Bill, thank you, and here live breaking news of your Bloomberg type squawk on your terminal SCU you a w u K and that's a Bloomberg business flash down. Here's Michael Barr with more on what's going on around

the world. Karen, thank you very much. As the Russian invasion continues, Ukrainian President Voladimir Zelenski hopes Russia will honor a ceasefire meant to establish a humanitarian corridor rather than break it again. Over one and a half million people have already fled the country. Ukraine is demanding NATO imposed a no fly zone to prevent further civilian deaths, though President Biden opposes this, saying it risks direct conflict between

NATO and Russia. According to Triple A, the average gas prices in the US at the pump are now more than four dollars seventeen cents per gallant. The record prices come as the man surges and the war in Ukraine threatens global oil supplies. In the NBA, the next one,

the Warriors lost. In the NHL, the Islanders lost, the Bruins lost to No T to the King's Three, to global news twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analyst in more than one twenty countries. I'm Michael Barb. This is Bloomberg, Karen Ry, Michael, thank you.

Sixty nine on Wall Street. We turned to news and science and technology Now with a Bloomberg and j I T STEM report brought to you buy New Jersey Institute of Technology and j I T makes infrastructure ready graduates from civil engineers to transportation specialists. If it's infrastructure, and j I T grads are building it. More at n j I T dot e DU Now Here's what's making news and science, technology, engineering and math. A new study warrants even a mild case of COVID nineteen can damage

the brain and affect thinking. Oxford University researchers found COVID linked brain damage months after infection, including in the region linked to smell. The scientists also found brain shrinkage equal to as much as a decade of normal aging. Concerns of a loving global shortage of coal are driving up prices in every U S region that has access to export markets. Potential sanctions on Russia, a key supplier, have buyers around the world scrambling to line up supplies of

the dirtiest fossil fuel. And Bloomberg News has learned that Google isn't talks to acquire cyber security company mandy And. It would be Google's second biggest deal ever. Mandy And has a market value of more than five point two billion dollars. Microsoft back out of discussions for a deal on concerns that mandy And would not be a good strategic fit. And that's a Bloomberg n j I t

Stem report. Nathan Okay, Karen, thank you. We are live from the Bloomberg Interactive Broker studios where it's 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 US lawmakers reaching the outline of a deal to ban Russian oil, U S spies painting a grim picture with Russia and China scene as the biggest threats, and President Biden set to sign an executive order this

week on cryptocurrency strategy. Let's get more on the political landscape as the war in Ukraine continues to dominate. Wendy Schiller is with US now, Director of the Topman Center for American Politics and Policy at Brown University, Professor. It's good to speak with you. We just got this headline crossing the Bloomberg terminal from Axios reporting the U. S. Senators are all looking to lock down Russia's gold reserves on top of all the sanctions that have been reported

over the last several days. What do you see as the impact of the US financial war on Ukraine? Well, I mean, I think there's going to be reverberations for US consumers, right, I mean, we've already seen that. You know, I've said this before. The most voters, including myself, don't

quite understand why gas prices rise overnight. We know this future market, you buy a certain price months in advance, but nonetheless we're all paying more for gasoline and that that looks like it's just going to continue to go up. In a summer where free of COVID restrictions, we should expect Americans to be traveling more than ever before in the last couple of years. So I think demand is going to continue to go high, and that means that you know, voters are going to feel this, and they're

gonna feel it directly. And the question is how long is it sustainable? How long can Biden and Republicans and Democrats say we need to endure this because Russia has invaded Ukraine and this is a threat to US. So I think it gets complicated the longer this goes on. Well, it's interesting, at least at the moment, a lot of US drivers, a lot of US voters are saying that they're willing to pay even more for gas, at least

right now, if it ends the war in Ukraine. What's the political impact at least for the short term for President Biden if we do continue to see this pain at the pump and pain overall in the US economy. Well, some people would argue that this actually could save the spiraling down of his approval ratings, because rather than the Republicans being able to scream about inflation, which they've done very effectively from probably almost close to a year now, uh and gas prices and blaming and on put on

sorry misstep Biden. Now Biden says, listen, we have to take these steps to protect democracy and protect Europe, and therefore you're gonna have to pay more so the narrative has flipped really quickly, and so it could help Biden diminish some of that pain that people um are feeling towards him because of higher gas prices. I don't think that lasts. I mean, the problem with that is that's now.

But I think, you know, as I said, as people want to go on vacation and enjoy themselves over the summer, I think they're going to feel it more and more. And that's closer to the Metrim elections. So the Republicans have a pretty good situation. They can flip the script on Trump and Russia, where they defended Trump against you know charge conclusion with Russia. Now they're very anti Russia and they want to inflict as much pain as possible.

But of course the bad side of the Democrats is if we do that, we get higher gas prices, we probably continue to have high inflation despite the Federal Reserve promising to increase rates, and the Republicans do better in November. So the Republicans right now are in a pretty good position.

There is an interesting note from economists to Goldman Sachs out this morning, saying that the war in Ukraine could raise the odds for parts of President Biden's Build Back Better agenda to get past, particularly the clean energy piece, if continued rising gas prices uh lead to more of a transition to a clean energy economy. Is that some thing you're looking at? Is that possible that we could

see a boost for build back Better from the war Ukraine? Well, I mean I think I think that, uh, if he got the time and the space on his agenda to make the pitch that this is why we need to do wind power and solar power, probably wind power more because we know that farms in the Midwest and which are typically Republican states, they are taking advantage of wind power now uh, and they are increasingly looking at that uh for using sort of farm land that they can't

use anymore or they want to give it a rest. So, you know, when you think about that, he's got an opportunity, and environmental movement has an opportunity. But it would be something very new in American politics to have very conservative Republicans or anti Russia aligned with environmentalists who are pushing for alternative fuel sources. But with you know, automakers saying they're going electric, right, they're already said we're gonna be

electric in a decade. We don't. We don't really have a choice, right, I mean, we're gonna be driving electric cars. We have to find a way to have charging stations. That's the big piece I think that we have in the infrastructure bill that we need more money spent on. Uh And so Biden does have an opportunity, but it would be a very strange coalition to witness in American

politics if that comes to fruition. Speaking of the infrastructure bill in our last minute here, it's kind of wild to think that it was only a week ago that the President delivered his State of the Union address and then the promise to go on the road to tout his bipartisan infrastructure plan. I mean, what does the war in Ukraine mean for the domestic agenda going forward for President Biden? When you would think that he would have want it to be touting the record that he's at

least accomplished so far in his first year. Well, I mean, it's a really hard it's hard to change the subject, right because it's so horrifying to see, you know, the destruction in Ukraine and displacement of Ukrainians. But he can make the case that we have to modernize, right, that this is not the same world it was thirty years ago. And we look at the Russian Army and they seem to be having problems and maybe that's a symbol of

what was. And we have to think about the future, and we have to think about, you know, modernizing society. And that's the infrastructure Bill will help everybody, whether you're a public, a democrat, wherever he live. That's what this

money should be spent on doing. If he can find a way to switch the narrative to the future, to adapting to a new world and being stronger and more independent in that world, I think he can try to combat some of the rhetoric that he's getting Um from Independence in particular, who really dissatisfied and look like a leader who's thinking ahead. Uh. That's a tough pivot for him, but I think he has an opportunity now to do that. And he's better. Even though he stumbles when he speaks

and people make fun of him, he's better. He's better on the road than he is UM from the White House. So he needs to get out there. Thanks as always, Professor Wendy Shoulder, Brown University Karen Nathan. It has six fifties six on Wall Street. This is Bloombergy Daybreak marches Women's History Month and every day this month where celebrating

significant moments in women's history. Now with your installment for March eightere's Bloomberg's I Need a Young Happy International Women's Day on today in Women's History in t the Fearless Girls sculpture is revealed across from the Charging Bull statue on Wall Street. Kristin visbal sculpture depicted a young, defiant

girl standing confidently. The sculpture was installed late the night before it was placed there to draw attention to the lack of gender diversity and equality in the workplace, particularly in large, powerful institutions in New York City. The plaque under the sculpture reads, know the power of women in Leadership.

She makes a Difference. It was commissioned by State Street Global Advisors, who wanted to advertise an index fund that promotes gender diverse companies with higher percentages of female leadership. That's today in Women's History, I'm nit a young Bloomberg Radio All right, Nia, thank you again. Futures are higher this morning and Bloomberg Surveillance with Tom King, Jonathan Barrow, and Lisa Abramowitz says straight ahead for Nathan Hagar. I'm Karen Moscow, and this is Bloomberg.