Bloomberg Daybreak: November 16, 2022 - Hour 2 (Radio)

lift off for part of this one. NASA begins its quest to return to the Moon. I'm Michael Blar More ahead, I'm John Stashow Sports, a road wind for the days, a road loss for the Net's the devil stay hot, and a free agent is staying with the Yankees. That's

all straining ahead on Bloomberg day Break on Bloomberg. He liveing free on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Sirius XM one nineteen and around the world the Bloomberg Radio dot Com and via the Bloomberg Business app. And good Morning, I'm Karen Moscow I'm Nathan Haygar. Bloomberg day Break is brought to you by b and Why Melons.

Pershing learned why the world's most sophisticated wealth management and institutional firms rely on Pershing to help them improve profitability, create efficiency, attract talent, and manage rates. Got Pershing dot Com us nock index futures are on the rise this morning. It is six oh one on Wall Street. We check the markets every fifteen minutes throughout the trading day. On Bloomberg, SNP Future is up seven points down, Future is up sixty seven NASDAG futures up nine Tenure Treasury down four

thirty seconds. He'll three point seven eight percent yield on a two year four point three five percent and nine back. Screwed oil is up a quarter percent, or twenty three cents at eighty seven dollars fourteen cents of barrel. Nathan, Karen, we want to get you the latest on the rockets strike now that killed two people in Poland, just over

the border from Ukraine. Some leaders initially suggested Russia was behind the attack, but President Biden is jinks there is former information that contests that I don't want to say that until we completely investigate. But unlikely in the minds of the three that it was fired from Russian. But well, we'll see. President Bin spoke from the G twenty summit in Bali, Indonesia. Bloomberg's Rosaland Matheson is there and has

more on the situation. It seems that there are doubts growing that in fact it was even potentially a rocket that was fired by Russia from Russia. Um and of course there are questions about whether it was in fact it's something that might have been deflected by Ukrainian anti missile defenses or indeed, if it was from Russia, perhaps

it was a missfar and unintentional. Either way, the message very clearly coming from leaders here, be they from Europe, the US, or the Turkish president Urduwuan a short time ago, is that they don't think this needs to sort of escalate tensions directly with Russia. Bloombergs Rose Matheson reports President Biden's pledging his full support for Poland's investigation into the could strike. Behind the scenes, sources say Biden's telling allies

the blast was likely caused by Ukraine's air defense systems. Still, Nathan, there's no confirmation on the exact source of the blast. NATO ambassadors are meeting in Brussels for emergency talks to away their response. Former Defense Secretary Mark Esper is making a case for a bolstering Ukraine's air defenses. Think about how far this Russian missile would have had to travel

across Ukraine to pass into the Polish border. There were numerous opportunities to shoot this thing down, and so I think it's a call to accelerate the provision of air defenses to Ukraine as well. Former Defense Secretary Mark Espers book at our Washington corresponded Joe Matthew Lady yesterday on Bloomberg Sound on Catch the show weekdays at five pm Eastern on Bloomberg Radio, and just quickly passing along this red headline, Poland says nothing suggests the missile hit was

an intentional attack. Let's turn to politics back home in the US now, because the familiar faces front and center this morning. Former President Donald Trump has officially entered the race for the White House. Amy Morris has more from our Bloomberg rom in Washington. His campaign filed the paperwork just minutes before Donald Trump announced his candidacy and a third run for the White House. My fellow citizens, America's

comeback starts right now. Trump made the announcement as many Republicans are moving away from him, many in the party asking him to wait until after the Senate race is settled in Georgia. As many Trump endorsed candidates in the mid terms were rejected by voters, Trump claimed America will decline unless he's reelected. This will not be my campaign, this will be our campaign or wild. Trump may have wanted to freeze out other Republicans eyeing a presidential run.

Republican strategists believe potential challengers are now emboldened. In Washington. I'm mayby Moore as Bloomberg daybreak. All right, Amy, thank you. Returned to the economy now where we get a key reading on retail sales. This morning forecast fall for a gain of one person in October. Bloomberg Economics corresponded. Michael McKee has more the headline change in retail sales for

October is likely to be misleading. Gasoline prices were up, adding to sales, and many in Florida were replacing hurricane damaged cars. It's core retail sales excluding gas cars and building materials that will matter and their economists are anticipating a slowdown. Gains at department stores, food stores, and general merchandise stores will be boosted by inflation rather than increased purchases.

Red Book Research reported a soft weekly sales index, and the New York Fed reports Americans are turning from savings to credit cards to keep spending, which is likely unsustainable. Michael McKee bloom Brig Daybreak, Thanks Mike. That retail sales report will be one of many the FED is watching. FED Vice Chair for Supervision Michael Bar cautions the economy will surely take a hit as the central bank and

frontside inflation. Inflation right now is far too high. I think that it's the case that we're going to see significant softening in the economy. FED Vice Chare for Supervision. Michael Bar spoke at the Senate Banking Committee in Washington. Meantime, across the Pond, Nathan inflation also a focus. Prices in the UK have now hit a forty one year high. To get the details from bloomberrys Lizzie burden in London has been driven by gas and electricity prices. That is

the biggest contributor despite the government's support. But it's also food that's the second biggest contribution, also housing and household services, and our economists at Bloomberg Economics say the Bank of England isn't likely to take its foot off the break in terms of interest rate rises until services inflation drops back towards its long term average. Bloomberg's Lizzie Burden reports the UK's consumer prices index for October rose at an

annual rate at eleven point one percent. In corporate news this morning, Karen Elon Musk is in the spotlight again. The Washington Post is reporting Musk told Twitter employees they either have to commit to a new hardcore Twitter or they should leave. Paper says employees have to click a link to confirm commitment to the new Twitter by tomorrow. If they don't, they'll receive three months of severance pay.

And now the latest on the collapse of ft X, Nathan Bloomberg News has learned at the preties in the US and the Bahamas are discussing possibly bringing Sam bankmin Free to the US for questioning. Sources say the conversations between officials and the two countries have intensified in recent days as they probe his role in the implosion of cryptocurrency firm f t X. Sure to have your latest

local headlines and this is Bloomberg. Thanks Karen six o seven on Wall Street, forty two degrees in Central Park, going to the low fifties today, I gotta crash South Bend FDR drive at sixty three Street. Michael bars here with what else is going on in New York and around the world. Good morning, Michael, Good morning Nathan. A taxi ride is going to cost you hail of a lot more. New York City cab writers will see a

twenty three increase in metered fairs. It's the first time since twelve following a vote from the city's Taxi and Limousine Commission. The t l C also says passengers will also face an increase in rush hour and overnight search charges and airport flat rates. The increases will also affect per mile and permanent rates for Uber and Lift and are expected to go into effect before year end. The

battle for Republican leadership in the next session continues. Bloomberg's at Baxter reports Senator Rick Scott has told fellow GOP senators he will challenge Senate Minority Leader Mitch McConnell to be leader of the party in the Chamber next year, and he immediately made the debt limit his keystone issue for the moment, saying it can't be done until Democrats agree to federal spending cuts. McConnell says he has the

votes to remain Senate GOP leader. Meanwhile, Kevin McCarthy is one preliminary support of the GOP two be House speaker. He will need to get a majority of the votes in the House to be elected in the new term. In San Francisco, I'm at Baxter Bloomberg Gabriad. A judge in New York dismissed a lawsuit by Mary Trump, who alleged her uncle, the former president, and his siblings scheme to siphon money from her share of the family business. The judge at her claims were barred by releases she

had previously signed with members of her family. It's the second legal victory for former President Trump, and as many days after a federal judge dismissed a lawsuit by his one time fixer, Michael Cohen. Mary Trump's attorney vow to appeal. The US is heading back to the moon NASA launched his first Artemis rocket overnight from Cape Canaveral, Florida, and lift off of Artimus one, we rise together back to the boon and beyond. The unmanned, multibillion dollar rocket mission

will go around the Moon and back. If successful, it will eventually return astronauts to the Moon for the first time since Apollo into the nineteen seventy two Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than hundred journalists and analysts and more than a hundred twenty countries. I'm Michael Varren. This is Bloomberg Nathan. Thank you, Michael six o nine on Wall

Street time for the Bloomberg Sports Update. Prot if I try stayed out of use, John sesshow all right, Anathan and Knicks and Nets are both out West. A win for the Hicks as they began a challenging five game trip. They beat Utah one eighteen one eleven Jalen Brunson twenty five points with eight assists, and the Knicks rebound from that horrific defensive outing and that lost this past Sunday. Speaking of horrific defense, most points the Nets have ever

allowed Sacramento shot six. The King's won one fifty three to one one. Terrence Davis came in averaging six points a game. He scored thirty one make it ten straight wins for the Devil's, two goals for jack Us and a five one win at Montreal. St. John's now three and o nine one seventy four at home over Central Connecticut. It was a big double header in Indianapolis. Kansas beat Duke after Michigan State ups at Kentucky in double overtime. Also,

Colgate for the second straight year, won at Syracuse. A Yankee free agent slug or staying with the team. It's not Aaron Judge, we don't know yet about him, but Anthony Rizzo, who hit not sixty two but earning two home runs. Hasn't do two years. D forty million guaranteed the Mets. Buck show Alter named National League Manager of the Year and was a close vote. He's now won four times to four different teams former Giants grade Eli Man. He was on Bloomberg Radio yesterday to discuss his private

equity group. We also weighed in on the surprising success of his former team. Daniel Jones is playing great stake Quin's running up. You know, running hard. Defense is playing well. So in the most important thing, they're finding ways to win close games. And they're find ways to close games out. And that's something we have they'll do for a while and and what that does It Also this prepares me for late in the year. You're gonna have these close games.

Can you win them? They're they're they're kind of tried and tested, and I think it's a been a good run. Giants for seven and two of their home Sunday for Detroit, John Stashwar, Bloomberg Sports. Yeah, we'll have more on Eli Manning's private equity run later this hour on Bloomberg Daybreaks, so stick around for that. Sp futures right now are little change to the upside death futures up twenty two points, Nastack futures have turned a bit lower now down sixteen points.

You're listening to Bloomberg day Break. Bloomberg Sports is brought to you by Audie. Don't let someone else drive off in the autie model you've always wanted. Visit your local Tri state autie healer to get behind the wheel of yours today, or visit autie Offers dot Com for more information, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg

Quicktape's a Bloomberg Business Lash. And I'm Karen Moscow and we're watching these headlines across the Bloomberg this morning, with sources telling Bloomberg no Varnis is wearing sales of non core assets as it seeks to raise money to invest in cutting edge medicines. A Swiss pharmaceutical giant is said to be in the early stages of considering options for

its ophthalmology and respiratory units. Meanwhile, S ANDP futures this morning are now little change giving up their gamestown future is little changed as well, and so are NASDAG futures, which are now leading lower down about eleven points right now. The decks in Germany down about nine tenths of uppercent ten year treasury down four thirty seconds, you know, three point seven eight percent they yield on the two year

four point three six percent. Nine Beck scrude oil is of a quarter percent, or twenty two cents and eighty seven dollars fourteen cents of barrel comics schooled up half percent, or nine dollars ten cents at seventeen eighty five ninety announce the euro one point oh four to six against the dollar, British found one point one one three they had one thirty nine point three nine and Bitcoin this morning down nine tenths of a percent at sixteen thousand,

seven hundred 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. President Joe Biden and key European leaders are urging caution after a rockets rock a Polish village just over the border from Ukraine, killing two people. However, there are doubts whether the Russia was

to blame. According to officials familiar with the matter, Biden told allies in Ballet that the explosion was caused by Ukrainian air defenses, but was ultimately sparked by the Russian missile barrage on Ukraine. Will have more in this story in a few moments. Former President Trump announced last night that he is formally launching his bid for the White House. The US is heading back to the Moon for the first time in five decades, NASA successfully launched the Artemius

mission overnight from Florida in the NBA. The next one, the That's Lost in the NHL. The Devil's won their tenth straight The Capital's Lost. Global News twenty four hours a day on air end on Bloomberg Quicktake, powered by more than twenty seven hundred journalist and analysts more than a hundred twenty countries. Michael bar This is Bloomberg, Nathan. Thanks Michael. At six nineteen on Wall Street Live from

the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak and let's get more now on this rocket strike into Poland. Bloomberg News White House Editor Alex Wayne is joining us now live from Bali, Indonesia, part of our team covering the G twenty summit in Bali. Alex, it's great just speak with you as always, and it does sound, at least on the reporting we're hearing, that consensus is building that Russia wasn't at least directly responsible for this strike.

What's the latest you can tell us, Yeah, but let's be clear, this wouldn't have happened for Russia. War in the middle of the Ukraine and shooting a war against attacking its neighbor, garaging Similian power facilities with missiles. UM, this is this is I would say this is directly Russia. Mr King help, But that said, UM, what happened here? But this this morning, Um, I'm morning considered Indonesia. We woke up to find the UM missile landing Poland. Because

I quite a fuss here at the tent. The president President bud help the emergency getting at this hotel where he gathered US allies talk about what had happened. They plugged work for Poland as it is invest against the incident. UM fairly correctly. They determined that uh, it seems that the soul was an actual piece of mersion Organs was rather Ukrainians. It was probably fired at the Russians muscles. Alright. So from what I'm hearing, the apologies for the quality

of the line they're from Bali, Indonesia. But it sounds as though Ukrainian air defenses are at least being seen as having some kind of responsibility for this. What kind of response could that mean from the US and NATO. It's pretty clear that the US NATO are are trying

to loyal estal invasion here. With the Russians. UM. There's been a lot of criticism of Russian upord these missile strikes on Ukrainian UH civilian infrastructure around the country, Russia particularly, so could the intendency of these attacks bring the G twenty UM president insidence seems to be pretty offended by UM. So there's you know, there's no there's no hold train

a couple for this. This was Ukraine trying to defended UM so it's we seem a may do with Rush any responsibility of comistener, although obviously it would happen unless they were right. Bloomberg's Alex Wayne joining us live from Bali, Indonesia, our White House editor again part of our team covering the G twenty summit in Bali, and again the very

latest we're hearing from the US President Biden. Now from Polish President Andre Dooda, after consultations with allies, saying there are no indications that the rocket that hit their territory yesterday was an intentional attack by Russia. Dudah is saying that most likely, quote this was an unfortunate accident, that the missile was probably part of Ukraine's air defenses. But we're going to continue monitoring developments as well as what NATO's potential response to this could be as the war

in Ukraine continues. Stay with Bloomberg Radio for the very latest. I want to turn it over there to Karen Moscow. Let's get a market check, Karen. How are things looking now? All right? Nathan? Thank you are We continue to watch futures this morning. They have been giving up some of their gains. SNP Future is still on the rise, though up about five points down Future is now at forty six and Nazdag futures little change. The decks in Germany is down about eight tens of upper cent. Ten year

treasury is down four thirty seconds. The three points seven eight percent right now, and the yield on the two year four point three six percent. Also watching the thirty year yield at three point nine seven percent. Nine night. Scrude oil is moving higher, up four tens of upper cent or thirty seven cents at eighty seven dollars, twenty nine cents of barrel and Comax gold up half percent. It's of nine dollars at seventeen eighty five eighty announced.

The euro this morning one point oh four to two against the dollar. British pound one point one nine oh six and the yen is at one thirty nine point four four bitcoin at sixteen thousand, seven hundred dollars. It is six twenty three on Wall Street. The following is an editorial from Bloomberg Opinion. This editorial was written by

the Bloomberg Editorial Board. Investors have been celebrating recent inflation data, which showed both consumer and producer prices rising by less than expected in October, but don't get carried away by single month's numbers. It's too soon to be sure that the pace of monetary heightening can be safely scaled back. New supply side shocks would change everything, and Congress has

to avoid throwing a wrench into the works. And before the Federal Reserve makes its next interest rate decision in December, it will have another inflation report and new labor market data to consider. For the moment, then investors would be wise to reign in their joy. The fight to control inflation has a long way to go. This editorial was written by the Bloomberg Editorial Board. For more Bloomberg Opinion, please go to Bloomberg dot com, Slash Opinion or O

P I N. Go on the Bloomberg Terminal. These has been Bloomberg Opinion and Bloomberg Opinion editorials can be heard every weekday terminal customers can read more like O, P, I N go and again. Futures are leaning higher but have been giving up their gain, and Bloomberg Daybreak continues. This is Bloomberg. Bloomberg Daybreak is brought to you by ancient accountants and advisers, the right fits taxon accounting firm that you need to succeed. Visit them at Ancient dot

com slash v i P to learn more. That's Ancient dot Com slash v i P broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C, Bloomberg N one to Boston, Bloomberg on All six one to San Francisco, Bloomberg nine sixteen to the country, Sirius XM chto one nineteen, and around the globe the Bloomberg Business and Bloomberg Radio dot com. This is Bloomberg Daybreak six thirty on Wall Street. Good morning,

I'm Nathan Hager and I'm Karen Moscow. We are just about three hours away from the open of US trading time to the five things that you need to know to start your day, bro to you by Interactive Brokers. Interactive Broker's Bond market place access their vast selection of over one million global fixed income securities with no markups or built in spreads and low transparent commissions. Learn more

at ibkr dot com slash bonds. First, we began the rocket strike that killed two people in Poland, just over the border from Ukraine. World leaders are trying to determine if Russia attacked NATO territory. However, President Biden says that the G twenty summit it's unlikely the missile was fired

from Russia. We're greed to support Poland's investigation into the explosion in rural Poland near the Ukrainian border, and I'm going to make sure we figure out exactly what happened, sources help President by Our sources say that President Biden is telling allies the blast was caused by Ukraine air defense systems. Yeah, Poland's president saying that now as well cared. But last night Ukraine's president, vladimir's Lensky called the strike

and escalation hitting missiles on NATO territory. This is a Russian miss the attack on collective security. This is a very significant escalation. Ukraine's Vladimir's Lensky also called for an end to the war and an address to G twenty leaders. Well, Nathan, there's still no confirmation on the exact source of the blast. NATO ambassadors are meeting in Brussels for emergency talks on the situation. Former Defense Secretary Mark Esper too is preaching caution.

My suspicion is that this was an accidental firing caused by either poor targeting or a malfunctioned by one of the Russian missiles. We need to go to a deliberate process, investigated out, and come to the facts. Former Defense Secretary Mark Esper spoke to Our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the Show weekdays at five pm Eastern on Bloomberg Radio. Like here in the US, Karen, politics is front and center, with a familiar name back

in the spotlight. Former President Donald Trump's made an announcement many already knew was coming. In order to make America graded glorious again, I am tonight announcing my candidacy for President of the United States. For the President Trump was without several key lies during that announcement, including his Datteryvonka Trump. And let's start to the economy now, where we get the latest US retail sales figure. This morning forecast are

calling for a gain of one percent in October. We're also watching shares of Target they're falling four This is after its third quarter profit missed analysts estimates and it adjusted its guidance for the year. And we're going to be following those shares as well throughout the morning. That's the five things you need to know to start your day, brought to you by Interactive Brokers and your top stories

local news straight Ahead. This is Bloomberg. I thanks Caring sixty three on Wall Street where forty two degrees in Central Park still got a crash in the southbound FDR Drive. We'll tell you more in traffic. First, Michael Bark with what else is going on in New York and around the world. Good morning, Michael, Good morning Nathan. It's going to cost more for a New York City cab ride. The Sydney's Taxi and Limousine Commission voted to increase fares.

My twenty three percent the TLCS as passengers will also face an increase in rush hour and overnight surcharges and airport flat rates. Drivers sought higher fairs amid inflation and labor scarcity. Senator Rick Scott will challenge Mitch McConnell for the Chambers top Republican leadership post during a closed door meeting today. Meanwhile, rules will change now that House Minority Leader Kevin McCarthy is poised to become the next House speaker.

McCarthy spoke at a news conference last night alongside other incoming members of the GOP leadership team. The one thing you'll learn is as my opportunity to be speakers, the House is going to change. No longer is all the power gonna arrest the way Nancy had it um no more proxy voting. Steve Scalise will likely be Majority leader and Congresswoman A Lease Stephonic was elected to a second term as GOP Conference Chair. Stephonic center party did quite

well in her state. I particularly am proud being from the state of New York. We picked up four our seats in New York State, flipping blue districts to red, and we will have a tremendous Republican conference in Congress. Congresswoman Stephonic, a Federal appeals scored issued a temporary stay on a lower court judges order that scaled back enforcement

of New York's new gun law. The stay from the Second U. S. Circuit Court of Appeals comes days after a U. S. District judge declared multiple portions of the law unconstitutional. New York lawmakers rewrote the state's handgun laws this summer after a Supreme Court ruling invalidated New York's old system for granting permits to carry handguns. NASA's new Moon rocket has blasted off with three test dummies aboard

overnight for Cape Canaveral. These watchers were in awe. It was really bright like it looked like the sun was rising, sounded like an earthquake was going on. The Florida launch brings the US a big step closer to putting astronauts back on the Moon for the first time in fifty years. 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 Michael thanks on Wall Street time for Bloomberg Sports Out Day brought to you by Tri State Outing with John Stash, Ranks, Nathan and Nicks have hit the road. Didn't play well in their last day with the Guarden. You have a hundred forty five points in that lost Oklahoma City. But they've again the five game trip with a win at Utah one eighteen one eleven. Jalen Brunson scored twenty five points. Cam Reddish pitched in with nineteen Nicks for seven and seven.

They play again tonight, this time in Denver. The Nets loss in the Sacramento one fifty three to one one. That's the most points the Nets have ever allowed. Hottest team in hockey. The Devil's made a ten straight wins, five one at Montreal College. Troops St. John's one. Kansas beat Duke. That's the first loss for Dukes new coach John Shire. Michigan State upset Kentucky double overtime. Anthony Rizzo staining what the Yankees do two years deal, there's forty

million guaranteed. Rizzo just hit thirty two home runs. He is very close with Aaron Judge. The Yanks are talking contract with Judge owner hal Steinbrenner said he recently met with him one on one. Buck Show. Walters first Manager of the Year war was with the Yankees back in four the strike year. He then won with Texas and Baltimore, and now he's won the NL Award with the Mets in a close vote. Cleveland's Terry Francona one of the a l for the third time. A new stadium is

gonna be built in New York City. A twenty five pass and seat soccer stadium near City Field and Queens will be used by the MLS team n y CFC, expected to be ready in seven. John Stashar Bloomberg Sports Navy All right, John, thanks meantime. Former Giants quarterback Eli Manning continues to expand his post football career. He signed on with a private equity firm, brand Velocity Group. That's in addition to his wildly popular Manning cast with brother

Payton on ESPN Monday Night Football. Eli Manning talked about it all with Bloomberg's Matt Miller and Paul Sweeney, sitting on my colts watching football, making fun of my brother, like that's sounds like a good job. And you're like paying me four Like yeah, I mean, I know I went to Old Miss, but I know a good deal and I see one. And so that was the idea. And really, you know, just saying, hey, what would it be like if Peyton and I are in your living

room watching the game? How would we watch it? You know, we're not going to talk about the first and ten run for two yards and tell you where the running back went to college, Like we don't know that answer. We don't know where about the college and you probably don't care either. So let's bring in some guests. Have it fun. We'll talk some x x's and knows. Tell you what's going through the quarterbacks mind right now? What you know, how should they handle this situation? Have Peyton

calls sixty seven time outs? You know when different needs to call a time out? And so, you know, it's really just kind of having fun and in a different way to watch the game. Former Giants quarterback Eli Manning talking there with Matt Miller and Paul Sweeney on Bloomberg Radio. Can hear more from Matt and Paul every weekday ten am, All Street Time. Catch their full interview with Eli Manning this weekend on the Bloomberg Business of Sports Show six

thirty eight on Wall Street. And now it's time to take a look at stock some of the names moving in the pre market with Bloomberg Radio and TV Markets correspondent Crety, Goofta and Crety. We gotta start with Target after a big earnings miss. This is a stock that just can't catch a break, Nathan. It seems t g T is your taker, shares you down about in the pre market. This comes after they come out with some earnings that really suggested consumers pulling back on their spending

in recent weeks, sapping sales and profits. Uh. This is of course coming after Walmart numbers yesterday where you actually did have a much stronger consumers. So this almost feels like at this point a Target specific story, given even Home Depot have these massive sales and profits beasts. But take a look at what else they're saying. They're looking to cut at least two billion dollars in costs over the next three years. That is going to be a

major story when it comes to the retail sector. Well, the question that comes to mind is does that mean layoffs. We've been really talking about this in the tech sector will that then spill over to the retail sector. But remember they did say over the next three years, so that's going to be a really crucial question. It's not the only retailer though that came out with some numbers. Lows as well is the one you want to keep

an eye on. L o W is the taker. Their shears are actually up about three percent, and Low sectually came out with some good numbers as well. And this actually comes in line with what Home Depot suggested yesterday that they actually came out with an earnings beat and a boost to their full year outlook. In fact, actually raised their full year outlook. That's how confident they are

about the holiday shopping period. So out of the four retailers, Walmart, Home Depot, Lows, and Target, Target is really the one lagging, and you can see the shares. Nathan punished quite a bit in the pre market. Yeah, certainly are thanks for this as always. Bloomberg Radio and TV Markets correspondent Crety gooped taking a look at stocks as a whole this morning. Starting to move just a little bit lower, Trading little changed right now, with SMP futures down to point. Dow

futures are a little changed. NASTAC futures are down, but only by about fourteen points ten. Your treasuries down three thirtys, the yield three point yield on the two year right now four point three six per cent. And let's just take a look at Bitcoin on the session down one percent, right now sixteen thousand seven dollars. Stay with us. You're listening to Bloomberg to day Break. Bloomberg Sports was brought to you by Autie. You don't let someone else drive

off in the Autie model you've always wanted. Visit your local price state Audie dealer to get behind the wheel of yours today, or visit Autie Offers dot com for more information, markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, The Bloomberg Business Allan at Bloomberg Quick Tape, He's a Bloomberg Business Flash and I'm Karen Moscow Target shares following this morning in US

dot index futures are now little change. We go to the first Word Breaking new desk for today's morning call, and here's Bill Maloney. Bill, good morning, Hey, good morning, Karen. That's right. US futures are quiet right now. A doubt futures hied by four points, SAPs are little change, and as that futures are lower by eleven. The US ten year old at three point seven eight percent, Gold is up three, oil is little changed, and Bitcoin is trading

lower by one percent. Hong Kong fell half percent overnight, while up markets are in the red this morning and back in the US. On the economic frontday eight dirty retail sales and at ten o'clock business inventories and the housing market index. Regarding those earnings this morning, you mentioned Target stock is down fifteen percent after warning US shoppers are pulling back, hitting profits, but low sales and earnings

beat estimates. In deal news esday lawdergreed to acquire tom Ford at a valuation of two point eight billion, and another news, Poland said that nothing indicates yesterday's missile hit

was an intentional attack. Wrapping things up, that tronic was cut to hold at Deutsche Bank home depot was cut to market perform ratt Raymond James live from the first breaking news that scan Boomloney care right, Bill, thank you and to hear live breaking news over your Bloomberg type squawk on your termin I'll ascue you a w K and 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. President Joe Biden told allies that the explosion that killed two people in Poland was caused by Ukrainian air defenses. According to two officials familiar with the matter, it was ultimately sparked by the Russian missile barrage on Ukraine. Biden delivered the assessment during a conversation

with NATO and Group of Seven allies in Indonesia. Former President Trump announced his candidacy for the White House in four Trump says President Biden and the Democrats destroyed the economy and he will fix it. In the NBA, the next one, the Nets lost to the King's one. In the NHL, the Devils won their tenth straight. The Capital's lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than went seven hundred

journalists and analysts more than a hundred twenty countries. Michael Barn, this is Bloomberg Karen, right. Mchaelbar thank you. At his sixty nine on Wall Street. Let's turn to news and science and technology. Now with the Bloomberg and j I T STEM Report, BRONTI You Buy New Jersey Institute of Technology, and j I T has joined with McKinsey and Company to establish a Mackenzy Digital Capabilities Center specializing in biopharma manufacturing.

Learn more at n j I T, dot, E d U and here's just making news and science, technology, engineering and math. It's NASA's most powerful rocket in fifty years and lift off for part of this one. We rise together back to the boon and dawn. Early today, NASA's new Moon rocket but lasted off on its debut flight with three test dummies on board. That brings the US a big step closer to putting astronauts back on the lunar surface for the first time since the end of

the Apollo program fifty years ago. But according to a new report of the county's in the U, US suffered a weather disaster between twenty eleven and one. Some endured as many as twelve federally declared disasters over those eleven years. More than three hundred million people ninety three percent of the country's population live in these counties. Rebuild by Design, which published the report says California, Mississippi, Oklahoma, Iowa, and

Tennessee had the most disasters, at least twenty each. An Apple is taking a major step toward reducing its reliance on Asian production. Bloomberg News has learned the company is prepared to begin sourcing ships for its devices from a plant being built in Arizona. Apple CEO Tim Cook has said the factory will start up in four That's a

Bloomberg n j I t Stem report. Nathan Okay Karen Thanks rely from the Bloomberg Interactive Brokers studios, where it's just about six fifty one on Wall Street, timed out to check what's going on in d C. Some of the top stories from our nation's capital include President Biden and allies urging contient following the missile strike into Poland, former President prompt to find calls to move on with an announcement he's running, and Mitch McConnell in for a

Senate leadership fight after Republicans mid term disappointment. Let's bring in Bloomberg Government reporter Emily Wilkins from Washington, d C. As NATO's Secretary General John Stoltenberg addresses reporters right now Emily on that missile strike. Here's what he had to say moments ago. And we have no indication that Russia

is preparing offensive military actions against NATO. Our preliminary analysis suggests that the incident was likely caused by a Ukrainian air defense missile fired to defend Ukrainian territory against Russian cruz missile attacks. And some of the other headlines coming in from those comments from NATO's John Stoltenberg, this is not Ukraine's fault. Russia bears ultimate responsibility. Emily. What is

the White House saying now about this? Well? President Biden said UH Wednesday that unlikely that a missile that killed to a NATO allied Poland was fired from Russia, but he pledged to support Russia's investigation into what it what what has been called a Russian made missile. At this point, I think there's still a lot of uncertainty going on. There's a lot of fact finding that members are our

own officials are looking into doing. Uh. Reuters has reported that Poland has no conclusive evidence showing who fired the missile that called an explosion in the village near the Ukrainian border. And I think at this point, they're just a lot of questions still percolating about whether or not this was an attack, whether or not this was intentional, about what needs to happen. Um. Certainly, the US is

still focused on continuing funding for Ukraine. On the White House is asking for additional funding to be included in the year and spending bill. So there's still a lot of focus on that, on that battle that's occurring, and on the war there. And I think at this point, UH, folks are just waiting to find out more information on exactly what happened, uh in the explosion of Poland. So what would you be looking for as we continue to

watch this investigation developed? I think for me, I know for Fred's, as someone who's not an expert, I'm going to be sitting back and waiting to get some clarity on exactly how things are moving forward. You know, I cover Congress. I was asking a couple lawmakers about this yesterday. The response I got for most of them was, we still need to be brief, we still need to learn the details. UM. Clearly, you know, new things are are

coming out throughout all of today. I think, certainly if there is evidence that this was an attack on purpose by Russia. That is going to change a lot of the dynamics about how lawmakers are thinking about this evasion into Ukraine and what it could mean. Obviously, Poland is a NATO ally, but I think at this point, um, you know, I don't want to speculate too too far because this might turn out to be something um that that wasn't intentional and and doesn't want up ultimately alternating

the course of the war in Ukraine. All right, and we do want to pass along this red headline from NATO Secretary General John Stoltenberg's comments as we continue to monitor the developments. He is saying that the Polish blast was likely caused by an errand Ukraine Air Defense will continue monitoring developments. Of course, So let's turn to your beat, Emily Congress and uh domestic politics. Of course, we've got the announcement that everybody knew was coming. Former President Trump

wants to be current President Trump again in two years. Yep, the twice impeached former president who has been at data handed losing a number of recent elections, has announced that he does again will run in This wasn't a huge surprise. Trump had kind of toyed with this idea, hinted at it for quite some time. But I think maybe perhaps what is more of a surprise is how you've seen a lot of the Republican part you respond to it that you've heard a lot of frustration from senators say,

you know, it's time for the party to move on. Uh. They blamed Frump for their losses, not just in but the presidential in they blamed him for losing the Senate in twenty and then they noted that a lot of the candidates that he endorsed and he em backed in two ultimately lost. And so you are starting to see that there's a shift going on to try and find someone who perhaps isn't going to isolate as many independents uh and really going to bring the Republican Party together

going forward. In um. Of course, there's a lot of attention right now on Florida Governor Ron de Santas, given the big victory that he had on on last Tuesday night in his re election for governor. But they're really a bunch of other potential candidates out there, and we've got two years to see how it all plays out.

Nathan oh Joy and it's not just the search for a Republican standard baron now, We've got a search for a Republican lead are going on now in the Senate too, Yes, so helps uh sorry further Senate Minority Leader Mitch McConnell, who will remain Senate Minority leader after Republicans had a really disappointing night on last night, they were not able

to gain control of the Senate. And so you've seen a Florida Senator Rick Scott step up and he said that he will be challenging Mitch McConnell for the chamber's top Republican leadership position on Wednesday. And there's also been some calls to delay the election, so we will see what happens with that. At this point, though, it does seem like McConnell has the votes that are needed to keep his position at the top of the Senate Republican Party. UM. I think the big question is how does how does

the sentiment against him continue? Is he able to keep Republicans together or does that get more and more difficult as folks begin to question his leadership challenges. Of course, Senator Rick Scott was someone who had a lot of support from Represident Donald Trump UH and miss mcgonald Trump. They've really been at odds with each other ever since January six, where mcconald came out and blame Trump for

the riot on the Capitol. Yeah, lots to come as we watched the direction of the Republican Party after this mid term. Emily Wilkins as always great to have you on with us. Bloomberg Government reporter Emily Wilkins from Washington. Read more Bloomberg dot com or on the Bloomberg terminal. Listen to Bloomberg Radio in the nation's capital at Bloomberg one and one oh five point seven FM HD two. SFP futures down to point, dal futures up a point,

NAZAC futures down eleven points. Lots more on this market with Bloomberg Surveillance coming up next with Tom Keene, Jonathan Farroll, and Lisa Abramowitz for Karen Moscow. I'm Nathan Hagart. This is Bloomberg