Bloomberg Daybreak: March 9, 2022 - Hour 2 (Radio)

Bill is on its way to the Governor's desk. I'm Michael Barer. More ahead, I'm John Stashtown Sports than nets warn the Rangers lost victory in the NFL, and some optimism for the end of the baseball lockout. That's all straight Ahead on Bloomberg day Break on Bloomberg Element Trio, New York, Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, Bloomberg nine sixties, San Francisco, Syrius x M one nine Team and around the world Old on

Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning, I'm Nathan Hager. And I'm Karen. Moscow and US futures are rebounding 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. Right now, SNP futures are up sixty one points down, futures A four hundred twenty three and NASDAG futures up two hundred forty. The decks in Germany is a four point nine percent.

The ten year treasury down fifteen thirty seconds, yield one point eight nine percent. They yield on the two year one point six five percent. Nim Max screwed oil down one point seven percent, down two dollars thirteen cents and a hundred twenty one dollar fifty cents of barrel and Comex s goold is down one point two percent, or twenty three dollars sixty cents at two thousand, nineteen dollars, announced Nathan, Okay, Karen, thanks well. Have more of the

markets in a minute. First, the latest on the war in Ukraine. Russian forces have intensified their strikes on KEYV. We get the very latest from Bloomberg. Said back Stair. The bulk of Russian forces are about thirty miles away from the city. Now. This coincides with what U S Intelligence Director Avril Haynes is telling the House Intelligence Committee that Vladimir Putin thought the war would end in two

days and that he will now be more brutal. Our analysts sussessed that Putin is unlikely to be deterred by such setbacks and instead may escalate, essentially doubling down to achieve Ukrainian disarmament neutrality. Haynes says if the resistance continues, it may have to change with some kind of face saving action, but that that resistance will have to remain very strong. In San Francisco, I'm at Baxter Bloomberg daybreak, all right, and thank you. In Ukraine, President voladimir's Lenski

is calling for more support from allies. He addressed the UK House of Comments yesterday. Police increase the pressure of sanctions against this country, and police recognize this contract as a catterist state, and police make sure that our Ukrainian sky a safe address. Was the first ever speech to the UK chain here by a foreign leader by here. In the US, care and lawmakers on Capitol Hill have

crafted legislation to banned US imports of Russian oil. The move came just hours after President Biden called for a van Amy Morris has details from our Bloomberg newsroom in Washington. The House legislation is a response by lawmakers to public anger over Russia's invasion of Ukraine. It's also forced President Biden's hand despite the administration's concerns about the effect on energy prices. Biden had a warning for companies trying to

profit off the crisis. No excuse to exercise excessive price increases or patting profits, or any kind of effort to exploit this situation. The House bill bars the importation of Russian crude oil, liquefied natural gas, coal, and refined products like gasoline and kerosene. It also reviews Russia's access to the World Trade Organization. It is scheduled for a floor vote later today and will take effect forty five days after it's enacted in Washington. I'm Amy Morris, Bloomberg Daybreak.

All right, Amy, thank you. What we're seeing oil prices fall this morning? Nine n screwed oil is down one point seven percent, and a hundred sixty four cents of barrel brent is down one point three a hundred twenties six dollars thirty one cents. Minnesota Democratic Senator Tina Smith says, it's important that you the US does not rely on

for in oil. The power of being energy independent and doing that through moving aggressively into clean power and renewable power is that you know, the putting has no say on whether how much we pay for wind or solar. In fact, that power is free. It gives us so much more resilience, I think, and Minnesota Senator Tina Smith spoke with Our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the program weekdays at five pm Eastern on

Bloomberg Radio Well Caring. The list of companies suspending operations are pulling out of Russia keeps growing. Let's get the latest on that live from Bloomberg's Unit a Young. Good morning, Na, Good morning Nathan. Iconic brands like Starbucks, Coca Cola, and McDonald's are the latest to pull out of Russia. The Coffee Giants partner in the country is pausing operations and will give support to the nearly two thousand partners who

depend on the company for their livelihood. PayPal is also suspending business in Russia, and PepsiCo says it will suspend soft drink sales in the country, but will continue to sell daily essentials like baby formula and milk. Live in New York. I'm Nita Young Bloomberg daybreak, All right, Na, thank you. The Russian ruble a is weakening sharply this morning, at the same time European equities are staging a comeback, and we go to London and get the very latest

from Bloomberg to un parts. Good morning you on good morning, Nathan and Karen. Plenty of green on traders Bloomberg screens today. That's as dip buyers wage. The global ecomic impact of escating sanctions is already reflected in equity prices, US gaining this morning, with banks, tech, and travel on leisure among the best performing sectors. Something not gaining today Russia's ruble.

It's some as much as seven point eight percent against the dollar as the onshore market resumed in Moscow, giving local traders they're first challenge this week to react to recent negative developments in London. Immune pult spin back. Day break, all right you and thanks. Turning back to the US economy, it is all about inflation. This week we get the latest reading on consumer prices tomorrow. Billionaire bond manager Jeffrey Gunlock warns that inflation could approach ten percent this year.

He says the Fed needs to aggressively tighten monetary policy. The CEO of Double Line Capital also says bonds are currently overvalued, while emerging market debt is cheap. And in Asia, Overnight Nathan, inflation was also in focus. China's factory prices eased again in February, o that the the outlook is deterior rating. Bloomberry Daybreak Asia anchor Bryan Curtis has the details. The pp I rose eight point eight percent from a year earlier.

That's down from nine point one percent in January. It did beat the estimate of eight point six percent, but the spike in commodity since Russia invaded Ukraine may flip these numbers. In March, meantime, consumer inflation was muted. The CPI was unchanged at zero point nine percent, the same as economists had projected. Curtis Bloomberg day Break, All right, Brian, thanks on a programming note for today. Join us this morning for a conversation with Bill Gross, the former Bond

Titan sits down for an interview on Bloomberg surveillance. Coming up at eight thirty am. Wall Street Time Straight Ahead, We'll bring you your latest local headlines and get a check of sports. This is Bloomberg. It sounds six oh seven on Wall Street, forty degrees in Central Park. Still problems on New Jersey transit details coming up in Traffic First Michael Barr with more on what's going on in New York and around the world. Good morning, Michael, Good

morning Nathan. New Jersey Democratic Governor Phil Murphy has proposed a forty eight point nine billion dollar budget, a boost K through twelve funding, makes a full public pension payment for the second straight year, and redistributes nearly a billion dollars in property tax relief. Murphy unveiled the proposal during a speech and the Assembly Chamber, and I'm proud across our first four years working together, we cut taxes from

class and working families and seniors fourteen times. New Jersey had better than expected sales and income tax collections. Governor Murphy also talked about the Russian invasion in Ukraine. Our administration is assessing what financial or business exposure we may have to the Russian government or Russian owned business interests or securities, including in our pension funds. Governor Murphy says the administration will make sure state taxpayer dollars are not

supporting Russia. Florida's controversial legislation, which affects discussions about sexual orientation and gender in public classrooms, is on its way to the Florida Governor's desk. LGBTQ advocates dubbed it the Don't Say Gay Bill. The Biden administration has denounced the bill as anti lgbt Q. However, supporters say the bill would not keep people from talking about the issues in classrooms,

but change curriculum and lessons on it. A Texas man was convicted of storming the US Capitol with a holstered handgun. The jury also convicted Guy Refit of interfering with police officers who were guarding the capital. On January six, Democrats and Republicans in Congress struck a deal on a long delayed one point five trillion dollars spending bill that would fund the US government through the rest of the fiscal year. It also provides the thirteen point six billion dollars to

respond to Russia's invasion of Ukraine. A bipartisan bill to reform the US Postal Service and give it a much needed financial boost easily passed the Senate. The House passed it earlier. In The bill now heads to President Biden's desk. Senate Majority Leader Chuck Schumer of New York. We passed strong bipartisan legislation. It's a win win, win for bipartisanship, for our postal workers, and a win for tens of millions of Americans who rely on the post Office every day,

Senator Schumer. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan. Thank you, Michael, almost sixth ten of all Street time for the Bloomberg Sports

Update with John Stener Nathan. It comes under the heading of We've seen this before, but there is some growing optimism that the baseball lockout might be coming to an NL though once before there was a long meeting and did not lead to a labor deal with two sides. Just had a seventeen hour bargaining session. It lasted until just a few hours ago, and they're coming back for

more today. They not only did not cancel another week's worth of regular season games, as they threatened to do, but one bargaining chip now used by the owners is squeezing in a one hundred and sixty two game season playing the games that got canceled a week ago. What is they in the NFL offseason? First, Aaron Rodgers resigning in Green Bay, ending a year long talk of him leaving a retirety at about two hundred million reasons to stay with the Packers. That's the size of his new

four year deal with Green Bay. Denver wanted Rogers. When that fell through, the Broncos treated for us So Wilson. The Seahawks get three players, two first round draft picks and two second rounders in return. The Broncos have leading a better quarterback, but since Peyton Manning retired, the NEETs in Charlotte, Tyrie Irving plays road games, and what a game he played. In thirty eight minutes, Irving scored fifty points. He shot fifteen of nineteen, made nine of twelve three poonders,

his fifth career fifty point game. The Nets Peto Hornets one two one twenty one. They played tomorrow in Philadelphia against their old friend James Hard of the Knicks Plate Tonight in Dallas, Rangers lost in Minnesota five to two. The Devils beat the NHL leading Colorado Avalanche five three. St. John's plays De Paul Tonight, bigg East Tournament at the Guard, James stash Heller, Bloomberg Sports All right, John, thank you. SMP futures now up seventy points, sound futures up four

hundred ninety five. Nets at Future is on the rise by two hundred sixty seven points to ten. Your treasury is down fifteen thirty seconds, the yield one point nine percent. Nime X crew down two point four at a hundred twenty dollars seventy three cents of barrel. You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather, some rains and let snow, especially north and west of the city. Will get up to the upper thirties today, upper forties, partly

sunny tomorrow, mix of sun and clouds. Friday wind behind your fifty right now forty 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, He's a Bloomberg Business clash and I'm Karen Moscow and Futures are on the rise this morning, as dip Fire's waiter that the global economic impact of escalating sanctions on Russia is already reflected in market prices. We checked the

markets every fifteen minutes throughout the trading day. On Bloomberg s and P Future is up sixty seven points down Future is up four hundred sixty four and Nasdag Future is up two hundred sixty eight. That's up to per cent decks. In Germany's at four point nine percent. The ten year treasury down fourteen thirty seconds. He had one point eight nine percent yield on the two year one point six five percent nine ex Screwed oil is down two point two percent, down two dollars seventy eight cents

and a hundred twenty cents a barrel. Comics goal down one point two percent on twenty three dollars seventy cents, a two thousand, nineteen dollars announced. The euro one point nine six seven against the dollar. British found one point three one six seven and the yen at one fifteen point eight six Bitcoin this morning is up almost ten percent at forty two thousand, two hundred fifty dollars. That's a Bloomberg business flash. Now here's Michael Barr with more

on what's going on around the world. Michael Karen, thank you very much. Yukraine's deputy prime minister says Russia agreed to open humanitarian corridors in parts of the country for twelve hours to allow civilians to escape from several cities. It comes as the US warned that Russian forces were

intensifying their bombardment of Kiev. Locked out players in Major League Baseball bargain into the early morning hours after commission to rob Manford's deadline to reach a deal preserving a one hundred sixty two games season past with no announcement. The Signs were negotiating on a number of key economic issues, including the luxury tax and minimum salaries in the NBA, the Nets and Warriors one in the NHL, the Devil's

and Capitals one. The Rangers lost Global news twenty four hours a day on here and on Bloomberg Quick Take, powered by more than twenty seven hundred journalists and analysts and more than a hundred twenty countries. I'm MICHAELA. Bar This is Bloomberg. This is the Big Take, the best to Bloomberg's in depth original reporting from around the globe.

We're running on a financial system that's running on old technology proces, which fresh recordized what unfolds in mid terms we will no doubt see again in the next presidential election. The Big Take on Bloomberg Radio coming up to six twenty on Wall Street Life from the Bloomberg Interactive Broker Studios.

This is Bloomberg Daybreak, and our big take this morning is on the war in Ukraine and how it's forced Europe to take suddenly drastic steps to read consider its energy needs now that Russian oil and gas are becoming much less of an option. Now. Bloomberg Climate and renewable energy reporter Will Mathis joins us now for more on this story. Will, good morning. Good to have you with us. I know Europe had been on a timeline to shift to more renewables, but now it looks like, all of

a sudden they've got to really ramp things up here. Yeah, that's right. It's gone from a timeline of decades to days and months. And it's not just renewables, but also you know, how do you shift the sources of fossil

fuels away from Russia by all means necessary? And so we looked at all the options we could, um, talk to experts in fossil fuels, coal, gas, but also you know, new technology, solar and wind and and and try to figure out, you know, how can they ramp this up as fast as possible if they are now approaching this with you know, a wartime urgency. So let's talk about at least the short term options for Europe. I mean, just about anything they think of is going to take

a little bit of time, isn't it. Um. Yeah, I mean the quickest things you can change are changing the kinds of fossil fuel as you're you're using. That would be you know, switching from from gas to coal, which is a much more polluting fuel. Um. And you know, even Europe's climates are fronts Timmerman's, who you know a year ago would have never advocated for using more coal even in the short term, is now saying, you know,

nothing is taboo, everything is possible. So probably Europe is going to burn a lot more cold this year with gas prices at the at the incredibly high prices they are, and also trying to use as little imports from from Russia as they can. But even if they go to more coal consumption, I mean, that's got to run up against as you mentioned, the the greenhouse gas emission limits that Europe has. Doesn't that take some kind of agreement among all the EU member blocks to run up against

those limits? Um, it doesn't. It's going to be costly because Europe has a you know, a cap and trade system that puts a price on carbon emissions. But even if they're burning more coal in the short term, they're not talking about building more coal plants. So it's just you know, using what they have already and uh, you know, running them full throttle and at the same time investing

much faster in the alternatives. So you know, we we looked at a calculation that you know, if they took out some of the planning bottlenecks and and use some policies to accelerate solar development, which is the quickest way to add renewable power capacity, that they could build um as much this year as we probably wouldn't have expected until so bring out the development timeline by by six years. So just just jumping ahead, um um, you know, as

quickly as they can. I mean, if they even go to solar and wind, I mean, does that make up for the lost capacity that they get from Russian oil and gas? No? I mean if if um Russian you know, so far, you know Europe has been buying lots of Russian gas, even even more gas has been flowing since Russia invaded Ukraine than before. So so for now that this UM cut off is just theoretical. But um, you know, if if it was the stuff following, they couldn't make up for it um overnight or even in a year

with renewables. But they can make investments now that will be there for for decades to come and and cut that dependence for the long term. Just about thirty seconds left here. Well, what about nuclear? I know France has a pretty robust nuclear industry and have been putting pressure on a lot more European nations to to think about that as well. Is that something that's on the table. Uh, it is, But you know the biggest you know, nuclear

takes longtime. New plans often take you know, a decade to to build, so even if they wanted to do that, it wouldn't be here anytime soon. The most immediate thing they could do was would be keep the nuclear plans online that they are planning to shut off, and the main place for that is Germany, and the German government so far does not seem interested in making that choice, and so they're actually gonna most likely use even less nuclear power after this year. Some big decisions ahead that

have to be decided on very quickly. Here Will mathis Bloomberg News. Thanks for this. Much more on the Big Take story this morning. You can find it at Bloomberg dot com, Slash Big Take or n I Big Take go on the Bloomberg terminal. SFP futures right now have seventy five points south. Futures up five and thirty eight. Nastac features up, nim X crew down two hundred, twenty

dollars twenty six cents of barrel. This is Bloomberg Bloomberg eleven three oh Weather clouds, little rain, maybe a little wet snow, upper thirties, partly sunny, upper forties tomorrow, mix of sunning, clouds, windy Friday, with a high near fifty. Right now forty in Central Park, broadcasting live from the

Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C, Bloomberg one to Boston, Bloomberg one O six one to San Francisco, Bloomberg not sixt to the Country, Sirius XM too one nine T and around the globe the Bloomberg Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak, and it's six thirty on Wall Street. Good morning, I'm Nathan Hager and I'm Karen Moscow or just about three hours away from the

open of US trading. Time for the five things you need to notice. Start your day onto you by I b k R Investment Advisers switched to Interactive Brokers for lowest cost global trading and turnkey custody solutions, no ticket charges and no conflicts of your interests at I b k R dot com slash R I A. And we begin with the war in Ukraine. The US says Russian forces are intensifying their strikes on a capital city of Kiev. Ukrainian President vladimir's Lensky says his military will continue to

defend their land we will not give up. We will not lose. We will fight till the end, at sea, in the air. We will continue fighting for our land whatever the cost. We will fight in the forests, in the fields, on the shores, in the streets. President Zelenski says he will stay in Kiev as long as it's necessary to win the war. Like here in the U. S. Karen, President Biden announced plans to curb Russian oil imports. This is a step that we're taking to inflict further pain Onputin,

but there will be cost as well. Here in the United States. I said I would level with the American people from the beginning, and when I first spoke to this, I said, defending freedom is gonna cost. It's gonna cost us as well. After those words, and President Biden, House Democrats unveiled legislation to ban Russian oil imports. Of votes expected today and checking prices now, Nimex screwed is lower by three point two percent, down at a hundred nineteen

dollars eighty seven cents. Of barrel Brent is down three percent at four dollars cents. Nathan Aalistic companies of spending operations are pulling out of Russia keeps growing, and we get the latest live from Bloomberg's Randa Young. Good morning, Ranita, Good morning Karen. Iconic brands like Starbucks, Coca Cola, and McDonald's are the latest to pull out of Russia. The coffee chain's partner in the country is pausing operations, and we'll give support to the nearly two thousand partners who

depend on the company for their livelihood. PayPal is also suspending business in Russia, and PepsiCo says it'll stop soft drink sales in the country, but we'll continue to sell daily essentials like baby formula and milk lie in New York. I'm gonna need a young Bloomberg debriak. We need to thanks the Russian roubles weakening sharply. This morning. Before the war was trading around eighty per dollar. Right now it's weakened more than a hundred thirty five per dollar. Meantime,

Bitcoin is surging. Nathan has jumped about forty two thousand thanks to optimism about the US overhaul of crypto oversight. Treasury Secretary Janet Yellen calls an upcoming executive order from the White House. Quote historic President Boden will sign an executive order later today which mandates government agencies take a closer look at issues from developing a potential digital US dollar to combating illicit finance. And this is Bloomberg, right, Karen,

Thanks six thirty three on Wall Street. Little rain this morning, forty degrees in Central Park, and we have lingering problems on New Jersey trans at the Peter Vanal tell about shortly. First, Michael Bars here with more on what's going on in New York and around the world. Good morning, Michael, Good morning Nathan. New Jersey Governor Phil Murphy has proposed a forty eight point nine billion dollar budget boost k through twelve funding and redistry abutes nearly a billion dollars in

property tax relief. We've been able to provide more relief and better opportunities for everybody else. We've been able to better support our public schools. We've been able to meet our full annual pension obligation. Governor Murphy also talked about the war in Ukraine. We will take whatever actions are needed to ensure New Jersey taxpayer dollars are not supporting Putin's on lawful invasion of Ukraine. Murphy says they are taking a look to see whether there are any Russian

owned entities in their pension fund. Democrats and Republicans in Congress struck a deal on a long delayed one point five trillion dollars spending bill that would fund the US government through the rest of the fist school year. It provides thirteen point six billion dollars to respond to Russia's invasion of Ukraine. Florida's Parental Rights and Education Bill has passed in the state Senate, and Governor around the Santa

says he will sign it. The bill has been dubbed that Don't Say Gay Bill by LGBTQ activists, which says lessons on quote sexual orientation or gender identity may not occur in kindergarten through third grade. The first person to go on trial over charge of stemming from the January six riot was found guilty of obstruction of Congress and other counts. Texas Militia Group member Guy Raffitt, was convicted of all five counts brought against him in Washington following

a six day trial. Raffit's wife, Nicole, claims the trial was just a way to scare others who stormed the Capitol and to intimidate the other members that the one sixers all fight together. The jury deliberated for less than four hours. A prayer vigil was held last night in Missouri for a Japlin police officer who died after being shot to Other officers were hospitalized in the incident. The suspect is also dead. Adam Miller is the chief of

the nearby Goodman Police Department. We're all family here, um, you know, and we go through tragedy events like this. We we're all morning, Chief Miller says. That started when officers trying to take a suspect involved in a disturbance in the custody and the chasing suit. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty d journalists and analysts in more than a hundred twenty countries. On Michael Barr, This

is Bloomberg NA. Thanks Michael. Just about six thirty six on Wall Street and John Stashowers here at the Bloomberg Sports Update. Thanks to day. If today's a big day in the baseball lockout, either it ends and they'll play ball, or another week's worth of regular season games will be canceled and the owners will have to take off the table the concession they made yesterday that they'll play the games that they canceled a week ago. The two sides

began a bargaining session at ten yesterday morning. It went until three this morning, and they'll be back from more talk today. Aaron Rodgers staying in Green Babe, but Russell Wilson on the move quite a day in the NFL offseason. Rogers said he was unhappy in Green Bay, not anymore. New four year, two hundred million dollar deal for the m v P the last two seasons. He's not only the NFL's highest paid player, he gets to keep his

star wide out to Dante Adams, who got the franchise tag. Wilson, unhappy with the team's decline in Seattle, traded to Denver. The Seahawks get three players in a boatload of draft picks. Wilson QB the Seahawks for eleven years, took them to two Super Bowls one championship. Only two backcourt players in NBA history have scored fifty points while making seventy five percent of their shots, Michael Jordan's and Kyrie Irving. Last night in Charlotte against the team Jordan owns. Irving went

for fifty shot fifteen of nineteen. The next week the Hornet's one two, one twenty one to get back to five hundred. Rangers lost in Minnesota five two. Devils beat Colorado five three. The Northeast Conference Final did not go well for Wagner. Fell behind at Bryant thirty six to six, lost seventy to forty three, and it was along delay late in the game a nasty fight broke out in the stands. Season is over from Manhattan. Lost at the

Matt Turney, I own a place. Tonight Big East Tournament starts the Garden st John's plays the Paul John dash Award's Bloomberg Sports Nathan Okay, John, thank you, the sixty seven on Wall Street. Let's get more on this morning's market action with Bloomberg Television anchor markets reporter Danny Berger. Plenty of action this morning, Danny, this looks like a

classic by the dead moment. Yeah, yeah, it does. Always action, but really the opposite action today that we have seen, and I say opposite, opposite to the degree where if you look at what's rallying the most in Europe today, it's the things that have been beaten down the most since Russia invaded Ukraine. So things like Otto's banks, those are all doing really well. So you get this picture

where stocks as a whole arolling really strongly today. But because it is a rally in these really oversold names, there's this question that's whether there's anything fundamental behind today's rally or just investors trying to scoop up some sheep bargains. What are we seeing in terms of volume? Is there a lot of buying going on right now? There actually is a decent amount. Last I looked which w V I on the terminal is where I do that. It's it's about fifty percent higher than it has been over

the past twenty days in terms of volume. So yeah, dip buying in some conviction behind it. Now you mentioned autos and banks some of the over sold names. Are we seeing this across sectors? This this rally going on right now, we are is saved for the sectors that have done well over the past thirteen days, so energy for example, UM materials, because we've seen oil rally. A lot of those energy names have done well over the past thirteen days since the war started. UM. But with

oil falling today, still at very high levels. Some of those sectors aren't doing better. So again adds to this picture that what we're seeing today is the inverse of what we've seen over the last week. Yeah, you shouldn't be too big a surprise there with the declines in crude we're seeing this morning. What are you gonna be looking for as we head towards the US open, Well, it's sir, it is an expectation just looking at what US features are doing, that they will also have this

dip buying mentality. But I continue to look in this market for any signs of anxiety, any economic anxiety. You have an ECB meeting tomorrow, um, and you know, we want to get a taste of how central banks are going to handle this. Inflation is so high because of all of these supply chain issues brought on again by Russia oil being banned. So inflation is really high. But can the economy sustain interest rate hikes if that's what the Fed does, And so you see areas of where

that's that stresses playing out in markets. For example, the yield curve very very thin right now, many expectations that it will invert. So while everyone's buying the dip. I am internally skeptic on everything and looking for that all right, Yeah, the ECB meetings on of course that CPI print from the Labor department as well. We'll be watching those numbers very closely. Bloomberg Markets reporter and TV anchor Danny Burger with us this morning as we watch futures move higher.

M S ANDP futures up sixty four points, Nasdaq futures up two hundred fifty six. This is Bloomberg Bloomberg eleven three oh weather, little rain, little wet snow, especially north and west of the city. HIGs in the upper thirties today, will be in the upper forties, partly sunny Tomorrow, clouds and sun windy Friday with a high near fifty right now forty and rain 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. She's a Bloomberg Business Flash and I'm Karin Moscow. Futures on the rise this morning. We got the first word breaking news dash for today's morning call. And here's Bill Maloney. A good morning, Hey, good morning care and that's right. US features are surging right now, with the futures up seven four hundred seventeen points, subs game fifty six, nastic

futures rise by two hundred and thirty five. The US ten yeld at one point eight nine percent, Gold and oil are both sinking, and bitcoin is climbing by nine percent. European markets are also in the green, led by four percent games in France, Germany and Italy, and back in the US on the economic front and ten o'clock jolts job openings. In other news, the US is probing Barry Diller's bets on Activision before the Microsoft deal, and in the commodity space, Indonesia to boost nickel output by up

to four hundred thousand tons. In two grabbing things up, jad Hunt was raised to buy over at Bowman sax Emerson Electric was raised to outperform over at Oppenheimer. Live from the first Rebecca News dost coom Bill Maloney, care all right, Phil, thank you to here live breaking news of your Bloomberg type squawk on your terminal. Sc you a w K. 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. Vice President Harris is heading to Poland this morning. The trip comes amid a disagreement between Poland and the US over Ukraine getting Poland's fighter jets. Meanwhile, there's a new effort to evacuate civilians out of Ukraine. More than two million civilians have left the country. Negotiators for locked out players in Major League Baseball bargain into the early morning hours to preserve a one hundred sixty two games season. They'll resume later today.

In the NBA, the Nets and Boarriors one. In the NHL, the Devils and Capitals one. The Rangers lost. So NFL news, the Broncos have agreed to its trade for quarterback Russell Wilson from the Seahawks. QB Aaron Rodgers will stay with the Packers in a four year deal reported to be worth two hundred million dollars. Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than twenty seven hundred journalist and analysts in

more than a hundred twenty countries. I'm Michael Barr. This is Bloomberg. The following commentary is from Bloomberg Opinion. Why revived the commute when mass is so pricey? I'm brook Sutherland, a columnist for Bloomberg Opinion. Russia's invasion of Ukraine is fueling sticker shock at the pump for Americans and sharpening

already uneasy feelings about inflation. Why then, are we in such a hurry to end pandemic era work from home policies and force employees to commute to offices Again, there is a cost in keeping wide spats of the working population out of city skyscrapers, But there's also a cost to resuming the pre pandemic daily grind, one that's become only more acute as Russia's hostilities and increasingly aggressive sanctions

in response send shockwaves through energy markets. The average national cost of gas hit four seventeen a gallon on Monday, a record before adjusting for inflation. According to Triple A, both the European Union in the US are racing to rejigger their energy strategies as Western leaders contemplate ways to increase the economic penalties for Russia. But these policies would be more effective and ultimately less painful at home if governments consider the demand side of the equation as well.

It helps that working from home is incredibly popular as far as patriotic sacrifices go. Avoiding the office can isn't easy, So I'm brook Sutherland. For more opinion, please go to Bloomberg dot com, slash Opinion or O P I N go on the Bloomberg terminal. This 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 currently six fifty on

Wall Street. Returned to news and science and technology now with the Bloomberg and j I T STEM Report. It has brought to you by New Jersey Institute of Technology and j I T makes Infrastructure ready graduates from civil engineers to transportations 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 just making news and science, technology,

engineering and math. A study estimates over one d seventy million people born in the US who were adults in ten were exposed to harmful levels of lead as children, and a paper published in the Proceedings of the National Academy of Sciences researchers estimated that half of the US adult population and have exposed to lead levels surpassing five micrograms per deci leader the Centers of Disease Control and

Prevention threshold for harmful lead exposure. At the time. Scientists have found the oldest known ancestor of octopuses and approximately three hundred thirty million year old fossil unearthed in Montana. The researchers concluded the ancient creature lived millions of years earlier than previously believed, meaning that octopuses originated before the era of dinosaurs. The four point seven inch fossil has ten limbs. Modern octopuses have eight, each with two rows

of suckers. And Apple has introduced five G versions of its low end iPhone and iPad air tablet, as well as a redesigned Mac desktop computer and faster processor. Apple unveiled the devices during a virtual event yesterday. CEO Tim Cook also announced plans to bring Major League Baseball games to the company streaming service and as a Bloomberg and j I T Stem report. Nathan, all right, Karen, thank you.

We are live from the Bloomberg Interactive Broker studios where it's six fifty two on Wall Street Time Now to check what's going on d C. Some of the tough stories in our nation's capital include House Democrats unveiling a measure to bann Russian oil imports, Congress reaching a deal on government spending in Ukraine. AID and Vice President Kamala Harris headed to Poland and Romania to discuss next steps on Ukraine Bloomber Government. Reporter Emily Wilkins joins US Now

from the nation's capital. Emily, good morning. Of course, we heard President Biden announced the ban on Russian oil and Congress is acting next. Yes, so Congress is expected to vote today on a ban for Russian oil that would include a couple of other sanctions measures against Russia as well. UH, it would start reviewing Russia's access to the World Trade Organization, and then it calls for strengthens a act that calls for stanctions on human rights offenders. So those two additional

measures would also be in the legislation. One thing that won't be there and kind of held up the bill a little bit yesterday, was it doesn't include a provision provoking permanent normal trade relations at US for Russia. Now, this was something that was bipartisan. UH. Lawmakers on both sides wanted it, but the White House actually stepped in and said, Hey, we'd like to discuss this a little bit more with our European allies. Can we hold off

on this bit for now? And so Congress is going forward with the legislation that's going to be voted on today, along with a one point five trillion dollars spending bill to fund the government. It's going to be a busy day up on Capitol Hill. Yeah, you're interesting. You mentioned the deal finally cut on government spending for the rest of this year. It also inclodes even more Ukraine aid than President Biden asked for, Yes, thirteen point six billion.

We've seen that number just continually go up. I think that really speaks to the amount of support that you're seeing for Ukraine from Congress. I've seen lawmakers from both parties UH sporting neither sunflowers or blue and white pins or ribbons showing their support for Ukraine. But this is the funding bill that lawmakers have been pushing for for a while. SILE at this point, um it'll avert a government shutdown. Although there could be the need for a

short term UH stopgap funding measure. But putting this out today UH means that lawmakers are going probably going to avert that government shutdown and then fully fund the government. UH. This is important because right now the government is funded on spending levels set during the Trump administration. So Biden and the Biden administration and the Democrats have wanted to get these new funding levels out for a while now.

And on top of all the activity going on on Capitol Hill, of course, we have Vice President Kamala Harris heading to Poland today to continue the diplomatic efforts surrounding the war in Ukraine. And this comes at a really interesting time with this dispute going on over Polish fighter jets and whether they can go into Ukraine. Yeah, we've seen these debates about you know, Poland suggesting that they could send these dutchs to the US, the US saying,

you know, they need to go to Ukraine. The big concern here, Nathan, of course, is that with these jets, is this going to escalate the situation? Will Russian see this as an escalation and will they respond um in a way that could wind up bringing the war to a wider europe and so that's the delicate situation that Vice President Harris is going to have to deal with

here as she goes abroad. Uh. We know that she's going to be meeting with the Polish president at the Canadian Prime Minister, and that she's also going to have a meeting with the Romanian president as well. And just quickly our last thirty seconds here, what's this say about Vice President Harris's just widening portfolio here? She has so much on her play to now going into direct diplomatic

negotiations around the Ukraine War. I think a lot of this just talks about how much the Biden administration needs to be focused right now on Ukraine. Certainly you have President Biden's own schedule UM that you know it is dealing with a lot right now with both Ukraine as well as of course talking to the American people, UM

and other news. In the cabinet, you're seeing Energy Secretary Jennifer Granholm, She's going to be actually having some meetings with oilmakers executives from Shell and Exxon over potentially upping the US production of gas and oil, which is of course something that lawmakers UH and politicians are looking at doing as they moved to band Russian oil from the from the US lots to keep on top of Bloomberg. Government reporter Emily Wilkins. Thank you as always, Karen Nathan.

It is SAX fifty six on Wall Street. This is Bloomberg Daybreak and Marches Women's History Month, and every day this month were celebrating significant moments in women's history. Now with your installment for March nine, here's Bloomberg's reed to Young on this day in Women's History. In nineteen fifty nine, Ruth Handler, a co founder of Mattel, introduces Barbie to the world. She brought it to crowd that the American

International Toy Fair in New York. The inspiration for the doll began and Handler was traveling in Europe and her fifteen year old daughter, Barbara spotted a German lily doll. But as the years went on, Barbie would be mocked as outdated and sexist, and criticized for promoting a largely white,

gendered image of beauty with an unrealistic body image. But in night Mattel started to become more inclusive when it introduced the first black Barbie, and today Barbie's dolls come in more than twenty skin tones, close to a hundred hair colors, a dozen eye colors, and five body types. Those changes served Barbie well because in Barbie generated its best sales growth in two decades. Ranita Young, Bloomberg Radio, All right, Ranida, thank you, Bloomberg surveillances straight ahead for

Nathan Hager. I'm Karen Moscow and this is Bloomberg