Bloomberg Daybreak: November 29, 2022 - Hour 2 (Radio)

same sex marriage is set to pass today. On Michael ware More, John Stashwar Sports, the Red Hot Devils beat the Rangers, Nets beat the Magic in its winner go home for the US today at the World Cup. That's all trading ahead on Bloomberg day Break on Bloomberg elevent Tree, on New York, Bloomberg N one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Sirius XM one nineteen and around the world on Bloomberg

Radio Dot Carmen via The Bloomberg Business. Good Morning, I'm Nathan Hagar and I'm Karen Moscow. When US dock index futures are on the rise this morning. We're coming up to six and one on Wall Street, and we checked the markets every fifteen minutes throughout the trading day. On bloomberg S and P futures up ten boys Dow futures that will change nowsday futures of fifty five. The decks

in Germany is little changed as well. The ten year treasury up eight thirty seconds you three point six four percent, and the yield on the two year four point four two per cent, Nathan Karen, We'll get back to markets in a minute, but first you want to update you on the unrest in China. Health officials have held their first briefing since protests over COVID restrictions began last week. Bloomberg's Rebecca Chung Wilkins has the latest from Hong Kong.

We saw quite muted, if any activity overnight. UM we saw a very heavy police present in a lot of major Chinese cities like Beijing and Shanghai, um and in pot that disneyd to quite a reduced effort. Um the briefing, quite frankly say've are has steered away from really covertly talking about the protest but there did seem to be a somewhat sort of softening in tone from authorities, acknowledging that some of the implementation of COVID controls has been

relatively strict. MERGERA Chen Wilkins reports China plans to speed up vaccinations for the elderly, but it's stopping short of enacting mandates well. Nathan Starks in Asia surge as unrest over COVID curbs ease. Hong Kong's Hang Sang Index rally more than five percent, while Starks in China game three

percent to get the recount from Bloomberg's JULIETT. Sally in Singapore Good Morning, Juliet, Good Morning Nathan and Karen Shares rallied in Hong Kong and on the mainland, as some investors speculated that the protests may hasten has shift away from COVID zero policies. Traders also took hard from the lifting of China's multi year ban on share sales by builders.

China's tend Your Government bondy or advanced to its highest level in a year, as support measures announced for the property sector dented hopes of further monetary policy easing, and the Japanese end rose, as did an index of emerging market currencies in Singapore. Juliette Sally Bloomberg Daybreak. Thanks Juliette. Let's take a look at US China relations now or the response to Beijing's crackdown on protests so far has

been muted. Bloomberg's Ed Baxter has the story. The US has spoken very strongly in the past about human rights, and now National Security Council spokesman John Kirby says, a watchful eye here. We're watching this closely as you might expect we would, and again we continue to stand up and support the right of peaceful protests. Um and I think we're going to watch this closely and we'll see

where things go. Kirby says, the Biden administration does not expect the protest to affect the supply chain or global economy. In San Francisco, I'm at Baxter Bloomberg Daybreak, all right, and thanks Meantime, President Biden and House figure Nancy Pelosi are moving to prevent a shutdown to the US freight railroad system. Sammy Morris has details from our Bloomberg newsroom made Washington. President Biden asked Congress to intervene to block a strike. VOWS is preparing to take up a bill

to impose a labor settlement despite some union's objections. Belosi says they're making the move reluctantly, but they have to avoid what she calls a catastrophic nationwide strike, which could hurt the economy by crippling supply chains. A coalition of more than four hundred business groups sent a letter to congressional leaders urging them to step in. The strike deadline is December nine in Washington. I maybe more as Bloomberg

Daybreak thanks Amy. Another major impact on the economy in recent months has been higher interest rates, and now FED officials are stressed in the Central Bank is not done hiking. Here's New York Fed President John Williams further tightening ente policy should help her still balance between demand and supply and bring inflation back to two percent over the next

few years. It will take some time about fully confident that will return to a sustaining period of Prince will New York FED President John Williams spoke at a virtual event hosted by the Economic Club of New York. At the same time St. Louis Fed President James Bullard says financial markets are underestimating the chance of more aggressive policy

next year. They're counting the first two fifty basis points as if that was a tightening of monetary policy, but really that's just getting up to the long run neutral level of the policy rate. We've only recently moved into restrictive territory, and we're going to have to move farther in order to keep inflation under control. St. Louis FED President Jim Bullard and other officials have signaled they planned to raise rates by fifty basis points next month. Well, Nathan,

they're more scientists morning. The aggressive FED tightening could lead to a recession. The gauge of global bonds measuring the worldwide yield curve, has inverted for the first time in at least two decades. The inversion of the yield curve is typically seen as a prediction for a recession as investors switch money to longer term bonds due to pessimism over the short term outlook. Well, let's turn to crypto now, Karen. The fallout from f t X continues. Block five is

the latest crypto firm to collapse. The digital asset lender says it will use Chapter eleven to recover everything it's owned by counterparties, including f t X, but Block five acknowledges recoveries are likely to be delayed by the bankrupt of f t X, and Elon Musk is on the spotlight again This morning. Nathan, a billionaire, is publicly attacking Apple, which is one of Twitter's top advertisers. Must said Apple has cut its Twitter advertising and threatened to block this

social network from its app store. Kurt Wagner has more from our Bloomberg nine sixty newsroom in San Francisco. The app store is is probably the main way or one of the main ways that most of its users get the app get app updates. So you know, for example, I believe the app would still work on my phone, but in order to you know, get an updated version I have an iPhone, I might have to you know, figure out a way to download that from the web.

It's the kind of thing that's going to erode over time and causes a lot of people to either stop using Twitter or or you know, possibly have to move to a different device. And so that's a huge issue. And one of the reasons I tweeted that I think Twitter needs Apple a lot more than Apple needs Twitter here, and that's because Apple has the distribution that it's at

its fingertips. Bloomberg Technology reporter Kurt Wagner says Elon Musk is firing back at Apple, asking whether it hates free speech. Futures are higher, but giving back some of their gains. Careeness and P futures are up seven point Stout futures now little change that NASTAC futures are higher by forty five points. Straight ahead your latest local headlines plus a check of sports. You're listening to Bloomberg Daybreak six oh seven on Wall Street, thirty seven degrees in Central Park.

Still got that closure westbound cross Bronx Jerome Avenue to the Deacon Michael Bars here with what else is going on in New York and around the world. Michael, thank you very much. Nathan, the nyp D made a big bus stopping at Counterfeit Goods Operation Police seized over ten million dollars in knockoff merchandise from vendors on Canal Street. During a news conference, officials set authorities had gotten several complaints in Lower Manhattan about the fake purses, sneakers, and

other items being sold on the streets. M I p D. Chief of Patrol Jeffrey Madrey, spoke to ABC seven sidewalks were blocked. There was property everywhere, merchandise everywhere, and this really impacts local businesses in a negative manner. Chief Madre says seventeen people were arrested and three truckloads of counterfeit items received. Five new Haven, Connecticut police officers were charged yesterday and a June incident that left a thirty six

year old man paralyzed. Prosecuted say Randy Cox was handcuffed and not wearing a seat belt when he flew head first into the back of a police transport van when the driver suddenly stopped. New Haven Mayor Justin Ellicker new Haven is committed to accountability for all individuals involved in this traffic incident. Mayor Elkers says the officers were charged with reckless endangerment and cruelty. Meanwhile, Cox's family has followed a one hundred million dollars civil suit against the officers

and the city. A Senate bill protecting same sex marriage cleared another procedural hurdle last night. At amendment to the Respect from Marriage Act would ensure it does not infringe on religious rights and protections. Passage of the legislation is expected today. Former Vice President Mike Penn said Donald Trump showed poor judgment for dining last week at his Maralago resort with rapper Ya and well known white nationalist Nick Fluentis.

Pence says his former boss should denounce their hateful rhetoric without qualification. President Trump was wrong, uh to give a white nationalist u um an anti semid and Holocaust Denierre a seat at the table, and I think you should apologize. Pennce spoke to News Nation Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalist and analysts more than

one twenty countries. I'm Michael Barr, and this is Bloomberg nither Okay, Michael, thanks six o nine on Wall Street time for the Bloomberg Sports update Frontify Try state outis John stash Our? All right, Nathan. First meeting of the season between the Devils and Rangers, who are in the NHL's Final four. Last season, Devils have not even been the playoffs since two thousand and eight. Team, but no doubt who the better team has been so far this season,

Devils are nineteen and four. They've won sixteen of seventeen. They won five three at the Garden, coming back from an early to nothing deficit at Barkley's forty five point for Kevin Durambas only five shots nets Pete Orlando one O nine one O two to get to five hundred. Kyrie Irving had at twenty. VN Simmons, who has finally been starting to play like he did with Philadelphia, heard his knee. Day to day. Kembo Walker, the New York native whose homecomings with the Knicks last season did not

go well, has signed with Dallas. The Man's hoping he can fill the role Jalen Brunson had with them last season. Brunson now course with the Knicks Yankee offseason goal try and get better than Houston. But the Astros, who took the Yankees out and won the World Series to sign a free agent slugger jose A. Bray, who spent nine years of the White Sox. He was the a l m v P just a couple of years ago. Monday

Night Football, Pittsburgh one at Indianapolis to seventeen. The US World Cup team played well in gaining that scoreless draw with England, but in reality their situation would likely be the same as it is now had they lost that game, beat a Ran today Advans Blues or have a third strade tie and they are leaving guitar. The U S coach is Greg Burrholter. Make no mistake about it. This is a knockout game for both teams. So it's gonna

be a high level intensity. Um. You know, I love what are Rands done um so far, especially the last game. A lot of commitment, Um, really good counterattacking and um, you know, we expected to be a hotly contested game and we'll be ready for game starts today two o'clock. John todash Our, bloom Bird Sports. All right, John, thank you. Right now, SMP futures are still higher, but by just six points. Staff futures have moved just a little bit lower down six points have been moving between games and

losses this morning. NASDAC futures still on the rise, but not as high as they've been in the session, higher by forty points. Right now ten your treasury is up six thirty seconds. The three point six yield on the two year close to four point four three per cent. You're listening to bloom Burg Daybreak. Bloomberg Sports was brought to you by Audie. Don't let someone else drive off

in the outie model you've always wanted. Visit your local Tri state autie dealers 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 at Hand at Bloomberg Quick Tape, He's a Bloomberg business flash and I'm ter at Moscow and US Dock Index futures are pointing to

a moderately stronger open as speculation mounts set. Unrest in Chinese cities over COVID restrictions would force authorities to move faster and loosening the curbs. We checked the markets every fifteen minutes throughout the trading day on Bloomberg s and P futures up seven points this morning. Down futures are little change and nasday futures of forty five. The decks in Germany's up a tenth of a percent now ten,

Your treasury up six thirty seconds. You have three point six five percent they yield on the two year four point four two percent. Nine x screwed oil on the rise, up about two and a half percent, up a dollar ninety nine at seventy nine dollars twenty three cents of barrel. Called meg school that three quarters of a percent, or thirteen dollars forty cents at seventeen sixty eight seventy announced.

The Euro one point oh three seven two against the dollar, British pound one point too, and the yen is at one thirty eight point oh four and bitcoin this morning up one point nine percent. It's at just over sixteen thousand, five 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. Chinese University as they're

sending students home. As the ruling Communist party titans anti virus controls and tries to prevent more protests, crowds angered by its severe zero COVID restrictions have called for President shi Jing Ping to resign. More in the story. In the minute, President Biden is asking Congress to intervene and block a railroad strike before next month. Deadline at the World Cup later today. The US faces Iran in the NFL, the Steelers beat the Colts in the NBA, and the Nets,

Wizards and Celtics one in the NHL. The Devil's beat the Rangers. Global News twenty four hours a day on here and on Bloomberg Quick Take, powered by more than twenty seven under journalist and analysts more than dwenty countries. I'm Michael Barr. This is Bloomberg. Nathan all right, Michael. Thanks six nineteen on Wall Street Live from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak, and as promised, we do have more on the situation in China. Live

from Hong Kong. We go to Bloomberg political correspondent Rebecca Chung Wilkins. Rebecca, good morning. The reporting from what we understand is that we've seen somewhat dampening of the protests that have been going on for days and a bit more conciliatory tone from the Chinese government. What more can

you tell us about what's happening there. Yes, we saw really significant police present in many of the major Chinese cities last night, and we're expecting that again to be here President en Um so Pitty like Beijing, Shanghai Hanjo will likely have that significantly presence, so dampening and muting

some of the activity that we've seen. On the other hand, we are also hearing from the health authorities this sort of conciliatory and more reasonable tone, and I think we haven't seen any sort of acknowledgement so far of the protest, but we did hear authorities saying that local government do need to treat reasonable requests around COVID in a timely manner. And it's really the closest that we've seen to some kind of attempt to recognize what so many Chinese people

are deeply frustrated about. So it's a recognition. Can it be seen as a move away, at least a tentative move away from the strict COVID zero policies that sort of sparked these massive protests. Well, one big positive sign I think on that front is this push to get China's elderly population vaccinated. That although overall that and aation levels are relatively high in China, that's a real weak spot. So only about forty percent of china population over a

t have had a booster vaccine for example. UM, and most experts think there's no way that China can start to reopen unless they tackle this problem. So that is providing quite a lot of optimism in the markets that you mentioned today. UM. The other thing is that we've heard this phrase repeated again and again since the protest again, and that is that China is constantly adjusting its COVID protocols. That just allows as narrative to crack the door open.

Even when we start to see more concrete moves by local government again, they will be able to sort of frame it under that narrative. But it is important to remember that while central government is sort of directing the problem the sort of big line here, ultimately it's local governments that are going to have to really reinforce and decide just what risks they're willing to take, particularly for

each province's health care system. Healthcare very very sort of difficult, differently administered UM, and differently with different effects of rush China. Other than the push to get more elderly population vaccinated, what other concessions are we hearing from the Chinese government, Well, those are the two big things. Is problem to promise to respond timely in a timely way to to request

as well as that vaccine push. Um, there is also a movement to sort of potentially moderate and follow these twenty principles for COVID management, which authorities laid out about a couple of weeks ago, just before, just before we started these protests started to emerge. It really remains to be seen whether or not governments actually take that up. Um.

Jersey and province also um, and we did. Is again just one province in China, but also saying that the most important thing there is not controlling the virus but payl think people first. Now that's quite a different message than we've heard elsewhere. Of course, all this is coming just a few weeks after Chinese President She jen Ping solidified his unprecedented third term. What kind of a risk

is there are these protests putting on President She's leadership here? Yes, indeed, I mean there was immense worry back then that as She sort of moved to fill all those top positions in his party with allies, that there wouldn't be anyone to guide him or give pushed back when something went wrong. And I think there is again that concern. Now you know who are the sort of diverse voices are offering

alternate points of views here. Um, it is a really critical point for his leadership, although of course no one really expects there to be any real existential threat to the party or to see at this moment, but it certainly is. The most vocal protests aren't that rare in China. They do happen, but it's very rare to see them directly criticizing Season Ping and the Chinese Communist Party in

this way. And of course if this sort of speaks of this broader melaid and this broader discontent after two years not just very strict COVID controls, but wheels wort have drag on the economy that's seen at itues like some of those property policies and the property crackdown that we've seen too. Thanks as always for keeping us updated on what's happening, and I will be checking back in with you in the days to come here as well.

That's Bloomberg Political correspondent Rebecca Chung Wilkins joining us live this morning from Hong Kong. As we're seeing a little bit more calm following the days of protests over strict COVID restrictions, and again a little bit more of a conciliatory tone. Some concessions we're hearing from Chinese health authorities as the unrest continues to play out. Looking ahead to the market open this morning on Wall Street, still on the green, but we'll call it light green. With SMP

futures up eight points, Staff futures up six. That's a little changed. NASAC futures are higher by fifty points ten. Your treasury is moving higher by seven thirty seconds. The yield down down to three point six five on the benchmark tenure. Note the yield on the two year four point four or two. And you're listening to Bloomberg Daybreak, Bloomberg eleven three oh weather. Sunshine today, upper forties, will have rain tomorrow to breeze, milder upper fifties for highs.

We'll be back in the mid forties, sunny and breezy for Thursday. Right now thirty seven in Central Park, broadcasting live from the Bloomberg Interacted Broker's studio in New York. Bloomberg e living free on to Washington, d C. Bloomberg ninety nine one to Boston, Bloomberg one oh six one to San Francisco, Bloomberg and No. Sixty to the country Sirius XM to the one nine T and around the globe the Bloomberg Business app in Bloomberg Radio dot com.

This is Bloomberg day Break six thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow, and we're just about three hours away from the open of us training kind to the fine things that you need to notice start your day. Brought to you by Interactive Brokers i dk R. Event Trader offers a new way to trade futures. Use e vent contracts to trade your opinion on yes orday questions and KEYCME futures. Marcus learn

more at event trader dot Interactive Brokers dot com. First officials in China say they're looking to speed up COVID vaccinations for senior citizens, but they're stopping short of mandates. It comes on the heels of protests to China's strict COVID policies. Craig Singleton, a senior China fellow at the Foundation for Defensive Democracies, says President she Juan Paing might not have many options for easing restrictions. I suspects going forward.

The big problem that's going to be that the CCP has not articulated a clear path out of zero COVID. Ching Ping has so closely staked his legacy on the notion that China's pandemic response has been better than the West, that narrative would be really damaged if China lifted these controls. Craig Singleton with the Foundation for the Defensive Democracies, there's a guest on Bloomberg Sound on Catch the show weekdays at five pm Eastern on Bloomberg Radio I meantime caring.

The US is taking note of China's response to the protest. National Security Council spokesman John Kirby talked about it yesterday. People should be allowed the right to assemble and to peacefully protest policies or laws or dictates that they take issue with. The National Security Council spokesman John Kirby says the White House does not expect the protests to affect

supply chains. All the while, Nathan Stocks in Asia search with the unreshed over COVID curbs easing, Hong Kong's Hang Sang Index rally more than five percent, but Stocks in China game three percent. US futures rose and European stocks also opened higher. Taking a look at the broader economy here, and Fed officials are stressing more raid hikes are on

the way to curb inflation. New York Fed President John Williams says it will take some time to get to price stability, and St. Louis President James Bullard says markets should expect aggressive tightening into next year. We've only recently moved into restrictive territory, and we're going to have to move farther in order to keep inflation under control. St. Louis Fed President Jim Bullard and other officials have signaled they planned to raise rates by fifty basis points next month.

And in politics today, Nathan President Biden and House figure Nancy Pelosi are moving to prevent a shutdown of the nation's freight railroads. The White House is asking Congress to intervene in the House is preparing to take up a bill that would impose a labor settlement. That's the five things so you need to notice start your day. Brought to you by Interactive Brokers, and futures this morning are

on the rise. There is this headline crossing the Bloomberg HSBC to sell it's Canada unit to Royal Bank of Canada S and P futures. Meanwhile, at eleven points this morning, Down Future is now up twenty eight and ASDAK futures of fifty six straight. I had your latest local headlines plus a check of sports, and this is Bloomberg. Okay, thanks Karen wall Street. Thirty six degrees in Central Park the westbound cross Bronx Expressway maybe a no go this morning.

There's still an accident investigation at Jerome Avenue. Michael Barr has more on what's going on in New York and around the world. Michael, good morning, Good morning, Nathan. New York City police busted a massive counterfeit operation last night, falling away ten million dollars worth of bogus merchandise US and arresting seventeen people. Won by Standard witnessed the sudden takedown. Are you solace in YPD jumping out unmarked cars, mark cars,

patty wagons. They got the cleared, the whole thing from here to here. And these guys used to sit up all night roll. Let's watch this everything you can imagine. St. Laurent All of the stuff. In planning the raid, police worked with luxury goods manufacturers who examined the merchandise in advance to certify it was counterfeit. In my p D, Chief of Patrol Jeffrey Madre, he or she will look at the property and say, this is this is not authentic, This is a knop off bad, this is a fake pace.

Neeat this, Chief Madre says those arrested and now facing felony offenses a white supremacist will spend the rest of his life in prison for killing ten black shoppers and workers in a Buffalo grocery store. Last May, nineteen year old Peyton Gendren pleaded guilty to several charges, including hate motivated domestic terrorism charges, which carry an automatic sentence of life without parole. Garnell Whitfield's mother was shot and killed

in the supermarket. Whitfield is calling on lawmakers to act. I want them to call out white supremacy. I want them to treat it like the cancer that it is. Garnel Whitfield, who watched the court proceedings, says Gendrin had no emotion. A Senate bill protecting same sex marriage cleared another procedure will hurt her last night. With the passage of the legislation expected today, the Respect from Marriage Act would federally recognize same sex marriages and ensure benefits for

all married couples. Former Vice President Mike Pennce said Donald Trump should apologize for dining last week with rapper Ya and well known white nationalist Nick Fluentiz, saying his former boss showed profoundly poor judgment pens at it. I don't believe Donald Trump isn't into stamite. I don't believe he's a racist or a bigot. I would not have been as Vice president if he was. Penn spoke with News Nation.

The m t A may have to raise fares to reduce service on subways, buses, and commun trains because the E and see his current financial plans are insufficient to close long term budget gaps. According to New York State Comptroller Thomas Monopoly, it is unclear how the MTA will avoid these outcomes unless it lays out additional options. Report

comes ahead of a proposed three budget. The m t A is expected to release this week Global News twenty four hours a day on air and on Bloomberg Quickday, powered by more than twenty seven hundred journalists, analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg Naker. Thanks Michael, six thirty six on Wall Street Time for the Bloomberg Sports Update, brought to you by Frice State

outing with John Stashower. All Right, when the Rangers get their first up close look at the Devils who began the season o and too, but our nineteen and two since they've began last night, down to nothing or Temmy Paner and he can be managed to have the Ranger goals in the first three minutes for the Devils with two of the first period, two more in the second empty inner. At the end they won five three at the guard and the nets aft of the slow started

claud back to five hundred. They beat Orlando at Barkley's one O nine, one O two. Kevin Durant was superb forty five points. He's got nineteen twenty four. That's lost Ben Simmons to a knee injury. Day to day. Kemba Walker has spent last season with the Knicks, has signed with Dallas and a baseball free agent son in Josiah Breyer with the World champion in East can Astros Monday Night football a couple of subpar a FC teams Pittsburgh

one at Indianapolis four to seventeen. Jets coach Robert Salah confirmed the obvious Mike White will start Sunday at Minnesota and salis at his quarterback situation is week to week and the intent is stilled against Zach Wilson ready to play. Tiger Woods was gonna play in the Bahamas this weekend. He's got a foot injury, had to pull out. The

US World Cup team tied England. England beat Iran easily six to two, but Iran beat Wales, who the U S could not feed US and Iran today and the American captains midfielder Tyler at it, it's gonna be a tough battle and you know, we're gonna have to have a lot of energy in this game and make sure that we're mentally prepared, pay attention to all the details in the game set pieces. UM and their midfield is dis quite impressive, you know, a very tech in from midfield.

And you know, for me, it's always difficult to play against the technical midfield when they can control the ball and control the games. So UM you know, we're gonna have to do our homework on on the on the games that they played previously US victory. Today it's on with the knockout round, a loss or a tie and they're going home. Also today it is England against Whale. John stash Allen Bloberg Sports NA be an exciting day for World Cup fans. Thank you, John. We're coming up

to six thirty eight on Wall Street. Time to take a look at stocks, some of the names moving in the pre market with Bloomberg Radio and TV Markets correspondent Creaty Gupta. It's been pretty light on the futures contracts, but boy did Chinese stocks surge on that just slight move away from COVID zero. Creaty, I a complete turnaround story. And yeah, it is wild what you're seeing in these Chinese ad rs. For example, we love to look at the poster child here, Ali Baba is our go to

for all things China. In terms of how the American UM trading bases, perhaps viewing those Chinese A d R SO B A B as your taking. Their shares are up about six percent in the pre market. And to your point, Nathan, it does come with a I don't quite know. A plethora of news is what we'll call it, trying to find the right word there. But there's a couple of things here. They said that Chinese officials vowed

to speed up COVID shots for the elderly. This was a major issue, the idea that a lot of Chinese citizens over the age of eighty. The vaccination rate was something like, it's something that is significantly low relative to the rest of the world, I think relative to China, think by comparison Nited States and something like seventy percent,

especially for the elderly population. In the way that they've tackled the distribution of the COVID vaccine, so that's something that's very unique to China, so keep an eye on that. They also said that they're going to avoid excessive restrictions. Remember that was really the issue that was fueling a lot of these protests, the idea there was a fire in a high rise building in one of their regions.

That basically meant that in that fire, a lot of people couldn't escape and they couldn't be rescued because of the COVID restriction. So that is what kind of was the the spark for a lot of these protests among just general frustration. So to see that really be addressed is a game changer for a lot of these Chinese

eight ours. Now there is some skepticism, of course, coming to all these developments, but the idea that a new round of perhaps easing could be underway um and perhaps kind of build pressure for reopening is fueling the likes of Ali Baba also feeling likes of j D dot Com for example. So j D is the ticker there shears up about eight percent for that stock. All right, now, last minute here, Crety, what are you looking at in terms of domestic shares? Yeah, this is the rapid fire

round if you will, full of analysts recommendations. You gotta look at Roku's one are okay? You shares you down about two point four percent of the pre market stock downgraded to sector weight from overweight. Over at key Bank, they're saying the consensus fore and looks quote too optimistic. I want someone to say that about me, too optimistic. Microsoft m s f T is the other one you

want to keep an eye on. Share is actually up well about two tenths of one percent, up about five tenths of one percent earlier more exactly, saying that it has confidence in the software firm's commercial businesses, sending a strong and durable demand signal when it comes to you. We can never be too optimistic about Bloomberg Radio on TV Market. It's correspondent Creedy Goop to stand on top of the pre market action for us this morning, stocks as a whole just a touch higher after the surge.

Overseas we got SMP futures up nine points, down features up eleven, nastack features up fifty points. Send your treasury is up six thirty seconds yield three point six five percent. You're listening to Bloomberg Dave right he Bloomberg Sports was brought to you by Audie. Don't let someone else drive

off in the Audi model. You've always wanted to visit your local Tri state autie 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 A and at Bloomberg Quick Jape. He's a Bloomberg Business lash and I'm kared. Moscow futures are on the rise this morning We had the first word breaking news desk

for today's morning call, and here's Bill Maloney. Bill, good more ing and good morning Karen. A modest bounce in the futures FPS today's sell off, with OUT futures up nine points, SAPES game eight and NASA futures are higher by fifty. He was ten year old at three point six six percent, Gold is up fourteen, Oil is climbing, and Bitcoin is training higher by one point nine percent. Hong Kong jumped five point two percent overnight, while up

markets are trading mixed this morning. And back in the US. On the economic front, at nine o'clock the House Price Index and at ten o'clock consumer confidence. Then another news, Morgan Stanley said the SNP five hundred may drop as much as fifteen percent by March as he fed unwinds its balance sheet, and Adobe said that Cyber Monday was set to break records with a projected eleven point six

billion in online spending. Wrapping things up over red Georgia Bank, Canadian Pacific was raised to buy and ups was also raised to buy. Live from the first Breaking News Desk on Bill Maloney, Karen, all right, Bill, thank you to hear live breaking news over your Bloomberg type squawk on your terminal squ 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.

Congress is being called to stop a loooming national railroad strike as President Biden urges lawmakers to act. Biden says, while he's pro labor, the economic impact of a shutdown would hurt millions of other working people and families. NATO chief Yen Stoltenberg accused Russian President Vladimir Putin of using winter as a weapon. Ukraine's leader warned that the Kremlin is preparing new strikes to inflict more damage on the

energy system. At the World Cup later today, the US faces around in the NBA, the Nets, Wizards and Celtics one NHL, The Devil's Beat, the Rangers. Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than hundred journalists and analysts more than a hundred twenty countries. I'm Michael Barr. This is Bloomberg. Nathan all right, Michael. Thanks at sixty nine on Wall Street.

Let's turn the news and science and technology Now with the Bloomberg n j I T STEM Report brought to you by New Jersey Institute of Technology, rank to top one hundred national university by u S News and World Report and the number one public university in New Jersey by Forbes. What Will You Make It? N j I T. Learn more at n j I T dot e DU now. Here's what's making news in science, technology, engineering and math.

Block five has become the latest crypto firm to collapse in the wake of the downfall of f t X. The digital asset lender says it will use the Chapter eleven process to recover everything it's owned by counterparties including f t X, but Block five acknowledges that those recoveries are likely to be delayed by f t x is own bankruptcy. Carmakers are opting to shutter their plants in China as COVID restrictions make it nearly impossible to secure

some components. Volkswagen says a component shortage is the main reason behind its decision to halt production at a joint venture plant it has with China f A double group in cheng Do, as well as a two of five production lines at its factory in Chang Chung, and Amazon's cloud computing units rolling out new chips designed to power the highest end of computing, supporting asks such as weather

forecasting and gene sequencing. Amazon Web Services, the largest owner of over the Internet computing, says that'll let customers rent computing power that relies on a new version of its Graviton chips. That newest chip is the latest piece of Amazon's effort to build more of the hardware that fills the massive data centers that power a w S. And that's the Bloomberg and j I t Stem Report. We're live from the Bloomberg Interactive Broker Studios, where it's now

six fifty on Wall Street. Now it's time to check what's going on in BC or. Some of the top stories include a munit of response from the Biden administration to the protests in China, President Biden asking Congress to force a rail deal despite union protests, Former Vice President Pence telling his former boss to apologize after dining with a white nationalist, and the same sex marriage bill set

to pass the Senate later today. Let's bring in Joe Matthew to get more on some of these stories are Washington, course wanted host of Sound On on Bloomberg Radio. So, Joe, what is the response in Washington today's ongoing protests in China? You know, Nathan, the headline on sound On last night was proceed with caution, because that's exactly what John Kirby

was doing at the podium. He was part of the briefing at the White House yesterday and took any number of questions about the protests, China's COVID policy, and a lot of related issues. Responding with the refrain people should be allowed the right to assemble and to peacefully protests, he said it again and again, like what about this, Well, we do, we do support the right to peacefully protest. At one point he was even asked about using so much caution and why the US was not taking the

opportunity to assert itself as a democracy. Kirby basically said, I am asserting myself. So it's clear there are concerns here in the wake of President Biden's meeting with President she at the G twenty and Indonesia that was watched just two weeks ago, concerns about undoing progress, but even worse, Nathan to to give the impression somehow that the US is encouraging or or helping to plan these protests. They

want this to resolve on its own. You have to wonder, though, Joe, whether this could lead to more pressure on the Biden administration when you have Congress getting back to work and obviously a lot of lawmakers don't have that same kind of diplomatic dance that the President has to continue to maneuver here after that meeting with Shijin paying there are

a lot of China hawks. It's one of the real by parts and issues in Washington and put some hate on China here, and you're right, and I would expect a lot of messaging on that from lawmakers. There's not likely a lot they can do though without really changing the rules, for instance, of companies doing business in China. That's that's the concern as well or the apples and the other manufacturers who are dealing with with supply disruptions here,

with production disruptions. Although Kirby did say yesterday that as far as the White House is concerned, there is no major interruption in supply chains. Yet of course that could change, and that's a different conversation. And speaking of supply chains. How about this dispute ongoing between rail works and the freight rail companies. There's a deadline coming up, Joe. That's right. It's the ninth of December, and I do you know, I really encourage people to consider this. Can you imagine

a rail strike happening right before Christmas? That's what we would be talking about here. Uh, And it would completely upend the supply chain in the national economy when you consider three hundred trailer trucks for one train. That's how this works out. There was an agreement back in September. The White House took a victory lap on this. Marty Walsh put in dozens of hours. Remember they were bringing in Italian food in the middle of the ninth Right,

we're getting along. This agreement, though it was not embraced by all of the unions, more than a dozen of them, it does not include sickly that's a big deal. In one of the four unions that voted down that proposed agreement says it will oppose any legislation that does not include paid sick days. So we're gonna have to see

what happens with Congress. But you're right, Joe, Biden, who claims to be the most labor friendly president in the history of America, out with a statement last night telling Congress to get involved here. They should immediately codify the agreement that he helped to put together in September that I mentioned here in Nancy Pelosi is preparing to take action here. It's unclear exactly what the votes will be and whether the Senate is going to be prepared to

move that quickly, but they don't have a lot of time. Nathan. He's an idea that the President, Biden wants to be seen as the most pro union president ever sort of been. What's keeping him from asking Congress intervene up to now? It's a good question. Look, I think they really wanted to just get this done on their own. You know, they had a deal. He thought that he had gone gotten beyond this. Uh he dispatched his labor secretary, his

Commerce secretary, he even called in himself. Remember they got a call from from Joe Biden in the middle of these negotiations. Uh So, I think the idea was that, hey, we're capable of doing this. But when you start going into the holiday season here potentially into the new year,

with a strike. That's not acceptable to the White House, it's not acceptable to the the rail cup and he's either And I have to admit, you know, you there's a lot to be concerned about here when it comes to sickly, we should not be fired for going to the doctor. But most people would not accept the results of a rail strike. It would bring the economy to a halt. Yeah, all right, let's train to another political

story this morning. There's still seem to be a lot of questions for Republicans about that dinner between former President Trump and the white nationalist and now former Vice president. Mike Pence is being asked about it as well. Yeah. Boy, he's doing a lot of interviews lately, and he did, he did talk about this has been you know, there's been a noted lack of high ranking Republicans denouncing this dinner with Nick Fuentis and Kanye or Yea or whatever

you call him. Kevin McCarthy has been very quiet. Uh, this is the man who wants to hold the gavel in the House. So Mike Pence is probably the most prominent Republican to criticize Trump here. Um. He he also said he does not believe that Donald Trump is is anti Semitic, racist or a bigot. So you know, at this point it's it's difficult up for a lot of people to swallow. He was talking to what is the news nation, right, so that there's there's too many networks.

But you know, there's always a butt with Mike Pence. The President was wrong about the election, but it was the honor of my life to serve in the Trump administration. Trump encouraged a mob to kill me, But Donald Trump and I were great friends until then. It just takes a bit of a punch out of the statement here for him to say, yes, Donald Trump should he was wrong, he should apologize, but but I don't think he's an anti semi or a racist. It just sort of it

makes it a little bit difficult to take the whole statement. Yeah, just thirty seconds left here. Joe's that seem sex marriage bill gonna get past in the Senate tonight. Gosh, it's sure looks like it five last night they move ahead with with an amendment. Uh and and yes they have

a couple of amendments to get through. Mike Lee, Marco Rubio, James Langford, they all have amendments to the bill, But this would essentially replace uh, the Defensive Marriage Act from the House will have to come back around with changes on its own. But this is moving along all right. Bloomberg Joe Matthew catch more of him tonight five pm. Wall Street Time across Bloomberg Radio. Sound on to get

all the latest from the nation's capital. Read more about these stories as well on Bloomberg dot Com or on the Bloomberg terminal. And when you ever here in Washington, just tune into Bloomberg one one oh five point seven FM h D two to get all the latest from Bloomberg Radio. Joe said, there's so many channels, as far as I'm concerned, there's only one Bloomberg Radio. SFP Futures right now up eleven. Del Future is up thirty one, NAZAC Future is up fifty five points ten. Your Treasury

is up six thirty seconds. The old three point six five percent yield on the two year just about four point four three percent. I x scrugs moving higher as well, at two point six percent at seventy five barrel. Bloomberg Surveillance is next with Jonathan Farrell. Lisa Abramo wits for Karen Moscow I'm Nathan Hager. This is Bloomberg