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

charged today. Blest, South Bria mourns after a crowd crush kills more than a hundred fifty people at Michael blarn more than head John Stash Howard sports the Jets and Giants four game win streaks, both game to an end.

The Knicks lost, the Rangers and Devils both won. That's all straight Ahead on Bloomberg Daybreak on Bloomberg eleven, Freeo, New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixty, San Francisco, Syrius x M one nineteen, and around the world on Bloomberg Radio dot Com. And via the Bloombird Business Act. Good Monday morning. I'm Amy Morris, I'm Nathan Hagar. Futures are moving lower this morning. We're coming up to six o one on

Wall Street. We checked the market's every fifteen minutes during the trading day. On bloomberg SMP futures are down twenty points. Staff futures down a hundred forty, Nastack futures are lower by eighty one points. The tenure Treasury is down thirteen thirty seconds now, the yield four point zero six percent yield on the two year four point four nine percent.

NIMEX screwed is down one point one percent or ninety five cents at eighty six ninety five of barrel comes gold down two tenths per cent or three dollars thirty cents at sixty one fifty announced and the euro right now, Amy is trading at point zero against the dollar. Nathan stocks entered the last day of the trading month and rally mode D S and P five hundred, gaining almost nine percent. In October, the dal Jones industrial average has

surged to more than fourteen percent. Michael Sheldon, its chief investment officer, at high Tower r D Infinite Group. The Dow is the first of the major industries to move back above their key two day moving averages, so that's something a lot of investors watched, separating a longer term rally versus a short term rally. None of the other major markets have done that, but that's certainly something to

to monitor going forward. Tour r D M Financial Group Michael Sheldon also notes the S and P five days on its longest weekly winning streak since August. Well investors have to potential market moving events this week. Game Either FED makes an interest rate decision on Wednesday and the government issues it's monthly employment report on Friday. Bloomberg's Any del Judas reports economisty another jumbo US rate hike seventy

five basis points to stop red hot inflation. Consumer psychology a key to snapping a price breakout, s just the FED as its work cut out. Americans see the cost of living rising five percent over the next year, based on University of Michigan data. Turning to America's labor market, economists anticipate in October payroll game but not as robust is September. The unemployment rate will probably remain low amid

historic labor shortages in many industries. Fini Del Judaece, Bloomberg Daybreak, Thank you any The end of the FEDS campaign to raise interest rates is approaching. That's the word from Mike Wilson, who's the Morgan Stanley was a prominent stock market bear who correctly predicted this year's slump inequities. Wilson says indicators including the inversion of the yield curve between ten year and three month treasuries all support a FED pivot sooner

rather than later. It's also going to be another busy week for earnings amy with more than a third of the companies in the SMP five reporting. The story from Bloomberg's Charlie Pellett. With more than two hundred sixty S and P companies reporting so far, about seventy one have delivered positive earning surprises despite some notable technology. Mrs Emily

Hill is founding partner at Bower Stock Capital Partners. You know, yes, some earnings are exceeding this reasonably low bar, but overall we have slowing growth and I think what we're going to see is more of what we just saw from big tech and in the first quarter of next year, we're going to see the impact of the strong dollar rising interest rates even more than we have now. In addition to the healthcare giants, this week we will hear from A M D, Airbnb, Conico, Phillips, Starbucks, Uber and

Young Brands. In New York Charlie Pellott Bloomberg Daybreak, Thank you, Charlie. And in Europe, shares of Barclays are one point seven percent higher. Trading revenue rose a greater than expected this game, driven by fixed income, commodities and currencies. Trading exclude some hedging losses tied to its mistakenly issued securities earlier this year. In his first TV interview since taking on the top job, Chief executive Officer C. S. Van katea Christian, spoke about

the UK economy with Bloomberg's francy and lakwax. What I'm hoping you see is what people will call a soft landing and shallow recession, helped by the initial conditions uh and and so what you might see an increase in unemployment. You might see some credit witness among among customers, but it won't be so bad that you see dispressed in society. We'll bring you more of our conversation with Chief Executive

Officers cs Venkate Christian a little later in the program. Well, another major story we're following this morning, amy takes place in Brazil. It is a dramatic comeback for former president Luis and Nacio Lula de Silva, the left wing politician has won the presidential election, narrowly defeating incumbent Gyre Bollsonaro. Three years ago, Lula was in a jail cell on corruption charges. Juan Pablo Spinetto is Bloomberg's managing editor for

Economy and Government in Latin America. Less than three years ago, he was still in jail. So if we talk about perspective um, this is probably one of the greatest political comeback sides in my life. Lula was president for eight years at the beginning of the century. He was one of the most popular politicians on Earth. At some point when Barack Obama was president, he he and the guy

right the most important and most popular president. Bloomberg Managing editor Juan Pablo Spinetto says Bulsonaro has neither conceded the race nor commented on the results. And another political news this morning, Chinese Foreign Minister Whang you criticized US export curbs in a call with Secretary of State Anthony Blincoln. Lang's comments about export controls were an apparent reference to Washington's move earlier this month to restrict Chinese access to

chip making technology. On the economic front, and Asia aim each China's factory and services activity contracted in October of Bloomberg day Break, Asia anchor Bryan Curtis has more from Hong Kong. The downshift suggests that COVID curbs and the property CRISTI are taking a toll. The official p m I fell to forty nine point two from fifty point one in September and below estimates. The non manufacturing pm I dropped to forty eight point seven from fifty point

six and also below estimates. Bloomberg Economics says, as bad as these numbers are, they probably understate the true weakness. New export orders slumped all the way to forty seven point six and non manufacturing employment dropped to forty six point one in Hong Kong. Brian Curtis, Bloomberg day Break, Brian thanks SMP futures now down twenty points, staff futures down a hundred forty night and nastac futures are lowered by seventy nine points. Straight ahead your latest local headlines

in the check of sports. This is Bloomberg Thanky Nathan at six oh seven on Wall three. Let's bring in Michael Barr to find out what else is going on in New York and around the world. Good morning, Michael, Good morning Amy. We're learning more information about the attack on Paul Pelosi, the husband of how Speaker Nancy Pelosi. It is said the suspect allegedly had a bag full of zip ties along with a hammer he brought to pelosi San Francisco home. The suspect, David D. Pap will

officially be charged today and arraigned tomorrow. Pelosi is the latest in a growing wave of threats and plants against elected officials on Face the Nation. Margaret Brennan asked Tom Emmer, Congressman and chairman of the National Republican Congressional Committee, about a tweet he had posted several days ago of him touting the Second Amendment firing a gun with the hashtag fire Pelosi. Why is there a gun in a political

add at all? Well, would pink slip be more fitting if it's about firing her exercising our second a meenment rights heaven. The Second Amendment has been about the Second Amendment. Hashtag Pelosi yes. Emmert said there is no place for violence in our society. Face the nation can be heard Sundays on Bloomberg Radio. At least a hundred fifty three people were killed and dozens injured following a crowd crush during Halloween celebrations in Seoul, marking one of the deadliest

incidents in South Korea in years. Bloomberg so he Kim has more from Soul. Most of the victims who are young people, those who are in their twenties and women who couldn't endure the pressure they got from the card crush. Bloomberg so he came from Seoul. President Yusak Joel declared a period of national mourning and vowed to carry out a thorough investigation. Republican Governor Brian Kemp and Democrats Stacy

Abrams squared off Sunday night in Georgia's governor race. Governor Kemp praise the state's economy thankfully in Georgia because we were open even when Miss Abrams didn't want us to be. Our economy has been incredibly resilient. We've had two record years for economic development. Meanwhile, Abrams during the debate, promised voters she will not reduce taxes for the rich. As governor.

I will not only lower costs. I will put more money into the pockets of working Georgians, of middle class Georgians. But what I will not do is give tax cuts to the wealthy and the powerful. The Abrams Kemp debate aired on WSV. Drivers, look out for a little trick or treaters in the Tri State area. It's Halloween. Meanwhile, for the adults, the annual Halloween Parade returns to Greenwich Village.

Tonight Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than hundred journalists and analysts more than a hundred twenty countries. How Michael bar and this is Bloomberg Gaming. All right, thank you, Michael, six or nine on the Wall Street. Time Now for the sports reports by Price Staate AUTI here's John dash Our, all right, Amy. It was an awfully nice month of October for the Jets and Giants. Both were hoping to cap it with a fifth win in a row. Both

saw the winning streaks come to an end. Jets led the Patriots at halftime, but the Pats court nineteen points in a row, beat the Jets for the thirteenth consecutive time, twenty two to seventeen at midlife. Not a good day for Zach Wilson. Between a couple of touchdown fasts, he threw three interceptions. One was the pass he was just trying to throw away. There was a costly Jet penalty in the first half, roughing the pastor that wiped out an eighty yard pick six the Jets to all the

five and three the Giants in Seattle. The game was tied at seven, then ten, then thirteen. In the fourth quarter again on first down pumpt down the cottra who want a drive with Cheet Tyler Larkin was not gonna let this one get away. Tyro had the call. Tyler Locket had dropped the TV pass earlier, also had a fumble that led to the Giants only TV. Seattle scored again four minutes later. Seahawks won twenty seven to thirteen. Richie Jeans was a giant goat. He fumbled punts in

both halves and both led to Seattle scores. Giants are six and two off next week, Nick's got a good look at the guy they were trying to acquire in the off season. In Cleveland, Donovan Mitchell scored thirty eight points, made eight three pointers at twelve assist Calv's rally to win one oh eight Rangers on them because advantage had power play goals seven minutes left, won three two at Arizona, Devil's Route in Columbus seven, and won the World Series.

Now in Philadelphia Asdos and Phillies one one go into the Knight's Game three, John stash that wear Bloomberg Sports Team, Thank you. John teaches a lower SMD features down twenty del features down one six points. Now that features down seventy nine points, ten year treasury down eleven thirty seconds, the field four point six percent. That's more still to come. On Bloomberg day Break. This is Bloomberg. The Bloomberg Sports

Report was brought to you by Audie. Don't let someone else drive off and the Audi model you've always wanted. Visit your local Dry 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 Out and at Bloomberg Quicktake. This is a Bloomberg business lash. I'm Nathan Hagar. Futures are moving lower this morning.

We have SMP futures down twenty points down, futures down a hundred forty nine. NASTAC futures are lower by eighty two points. We check the markets every fifteen minutes during the trading day on Bloomberg. Send your treasuries down eleven thirty seconds. The old four point zero six percent yield on the two year four point four eight n I'm x scrude is down one point four percent, down a buck twenty five at eighty six dollars, sixty four cents

a barrel. Call x goll down three tenths per center for at all the sixty cents at sixteen forty announced. The euro point two against the dollar, British pound one point seven. The end is a one point four six. That's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world. Michael Pathan, thank you very much. Brazilians have delivered a very tight victory to Louis Ignatio Lula da Silva in their presidential election.

He gives the leftist former president another shot at power in a rejection of incumbent Jayer Bolson Naro's far right politics. In the NFL, the Giants lost, Patriots beat the Jets, the Commanders and one. NBA Nicks lost, Celtics beat the Wizards, the Warriors lost, Devils and Rangers one. In Hockey Global News twenty four hours a day on air and on Bloomberg Quicktake, Power bout more than twenty seven hundred journalists, analysts more than a hundred twenty countries. Michael Barr, this

is Bloomberg Gaming, all right, Thank you, Michael. Six eighteen on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg day Break. Former Barclay's Market chief s C. S n A. Christian is now CEO of the story UK Bank. He took over the top job after the abrupt departure of its former chief executive. So now a year end of the job, Van Cat is leading bark Lays through a war in Ukraine, rampant inflation, and aggressive

central bank tightening. In his first TV interview since taking the Helm Vancat, Spook exclusively, the Bloomberg's Franci and Lakwa. I think the UK economy has had a lot of support during COVID, and obviously there are you know, the UK has been growing more slowly than it should. But the financial services industry, which is a large part of the UK, is very competitive, but it's not the only one. Health sciences, even technology, in parts of technology fintech are

very very bright stars in the UK. So the UK has a lot going for it, and I don't think you will see that kind of environment. I think what what what I'm hoping you see is what people will call a soft landing and shallow recession, helped by the initial conditions. Uh and and so what you might see is an increase in unemployment. You might it see some credit weakness among among customers, but it won't be so

bad that you see distress in society. However, it has to be managed carefully and it has to be managed aggressively with the balancing of the budget. And that's what the Prime Minister has said in the last couple of days. Are you expecting housing crush? I doubt it. Talk to

me a little bit about the last six weeks. So you mentioned the guilt was there a moment where you were in the office thinking like, I you know, as Barclays you're one of of course the players in selling and buying guilds with the margin calls coming in and saying like, I don't know what happens in the next two hours. So first of all, I think that I think the the volatility was managed extremely well by the very effective, targeted and time bound actions of the Bank

of England. So I think buying guilts, buying infatient linked gills and then the report facility that they put in working with the banking system all helped ease the pressure in the crisis. And you know, you've got ten years guilty. He is now back below where they were um at the at the day of the Mani budget on the twenty three September. As for us, I mean we are large in the in the guilt's market. Um. What was important for us as we saw it was this was

not a solvency issue at all. For the pension system. It was a liquidity issue. And it was a liquidity issue because what was a very important feature of the UK pension system, which by the way, I think is a good feature of the pension system, which is a matching of assets and liabilities, which employed leverage created a liquidity problem, so liquidity problem had to be managed. Is

liquidity you're the biggest concern for banks right now? I mean we're again hearing, you know, the U. S. Treasury Secretary having to do things maybe to put a bit of extra liquidity to pat it out in the treasuring market. Bank liquidity, I don't think is an issue. We've had liquidity regimes, the you know, funding models are much much

more robust than they were in the financial crisis. I think part of what people are worried about and what they saw in the guilt market was the liquidity in underlying trading, which is that these markets are not deep with smaller bit of a small bit offers in large sizes of trades as they used to be fifteen years ago. And I think part of it our banks are more prudent in managing their risk. What's your relationship like with with the new UK government? Have you had calls? Have

you have they given your assurance about windfall taxes? Well, I think the government is brand new, so we obviously many of the faces are very familiar faces and we've been dead you know, in communication with them in many for many years, and we always are with the government UM. And you know, we are a wait to see their proposals on on taxation, on fiscal policy, on all aspects of it. Where do you see the city of London being in four or five years? I mean that's maybe

too long a time frame. Should I say twelve months? Well, it's it's both too long and too short. You know. If here we are in the city and this city has been the enter of finance for three d years and it needs to be the center of finance with three hundred more years, we certainly would wish that that were the case. UM. And it is the center of finance because of an excellent regulatory system, transparent fair It is there because of great availability of talent UM and infrastructure,

soft financial infrastructure and hard financial infrastructure UM. And a part of that is also a stable, predictable taxation regime. So we hope that all those elements and ingredients remain and continue to allow the city to flourish. And you know, the Prime Minister book about investing in education in Britain, and if you think about what drives the financial sector.

I mean you meet many of them. It's about the wonderfully trained people in the UK and the wonderfully trained people outside were able to come and work in the UK. If the UK has lost something, when City of Lunds has lost business to other parts of the world in terms of you know, financial capitals, what do you need from the government today for that to be reversed. Well, some of it is what others do, right. So once briggsit happened, um and you could not passport financial services

to London. All the major banks had to set up trading enterprises in Europe. So that is irreversible, let's say for the time being. I think other than that, what we need is a continuation of what London has provided, you know, education, infrastructure, people, great regulatory regime and UH and a stable and predictable you know, fiscal regime. Christians speaking with Bloomberg's Francy and Laquix. You can catch that full interview on bloomberg dot com or on the Bloomberg terminal.

Futures are lower, SMB features down, twenty doll features down one points, nattack features down seventies six, the ten year treasury down eleven thirty seconds. Can you yield at four point oh five per cent? Much more still to come on Bloomberg Break. This is Bloomberg Bloomberg eleven three oh weather. Mostly cloudy today going up to sixty five degrees with scattered showers to night, down to fifty five and back up to seventy tomorrow with showers early in the morning

and mostly cloudy skuys tomorrow afternoon. Broadcasting live from the Bloomberg Interacted Brokers studio in New York. Bloomberg E Living Free On to Washington, d C. Bloomberg on to Boston, Bloomberg one oh six one to San Francisco, Bloomberg nine six to the country, Sirius XM to A one nine and around the globe the Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's six thirty on Wall Street. Good Monday morning. I may me Morris and

I'm Nathan Hagar. We're about three hours away from the open of US training time for the five things you need to know to start your day. Brought to you by Interactive Brokers. Interactive Brokers charges margin loan rates from three point five eight to four point five eight percent rates subject to change. Learn more at ib kr dot com. Slash compare first. US futures are lower to start the morning, but stocks enter this last day of the trading month

in rally mode. This and P five hundreds gained almost nine percent in October, while the Dow has surged more than four Phil Orlando, chief ecuty strategist that Federated Hermes, thinks we are still in for a bumpy road ahead.

There's been this perception among the market. We've seen this from that big rally mid June and mid August and then this rally over the last couple of weeks, This perception that there will be this immaculate decline and inflation which is going to allow the Federal Reserve to stop hiking interest rates and turn around and start cutting interest rates. We are not that sanguine. It's gonna be a problem

longer than the market thanks. Phil Orlando with Federated Hermes is still positioning defensively as the Fed continues to tighten monetary policy, and we're watching a couple of key events this week. If that makes an interest rate decision on Wednesday, and the government issues its monthly employment report on Friday.

Katrina L is a senior economist with Moody's Analytics. We have seen that the U S economy is still kind of roaring ahead, but momentum has definitely slowed, and I think what the Fed is really going to continue to focus on is that the strength of the labor market. And while we have seen some softening in the labor market,

it's still type beyond comfort levels. Katrina L with moody says she expects the FED to raise rates another seventy five basis points this week before easing in the coming months. Stick with us all week for the latest Fed coverage. We'll bring you Jair J. Powell's full comments live Wednesday on Bloomberg Radio and television. Over in Europe, Amy shares of Barclays are up almost one percent. Trading revenue rose more than expected thanks to fixed income, commodities and currencies trading.

In his first broadcast interview since taking the top job, CEO C. S. Van Kada Christian spoke about the UK economy with Bloomberg's Fiancy Laquix. What you might see as an increase in unemployment, you might see some credit weakness among among customers, but it won't be so bad that you see distress in society. However, it has to be managed carefully and it has to be managed aggressively with the balancing of the budget, and that's what the Prime

Minister has said in the last couple of days. Catch our full interview with Barclay CEO on Bloomberg dot Com or on the Bloomberg Terminal. A dramatic comeback in Brazil for former President Louise in Assacia Lula da Silva, the left ring politician winning the presidential election narrowly defeating incumbent Jay r Balls and narrow. That's the five things you need to notice start your day. Brought to you by Interactive Brokers, and this is Bloomberg. Thank you, Nathan sixty

three on Wall Street. Let's bring in Michael bar to tell us what else is going on in New York and around the world. Thank you very much. Amy. The mayor of Ukraine's capital said that eight percent of consumers in Ki were left without water supplies due to the damage to a power facility near the city from Russian military strikes. Today the tally Klitschko says local authorities are working on restoring the supplies as soon as possible, telling Kiev residents in the meantime to stock up on water

from the nearest pump rooms and points of sale. The barrage of Russian strikes hit critical infrastructure facilities in Kiev and other Ukrainian cities. South Korean President Yun Sakyol has

promised a full investigation and support for those affected. After a crowd crush and Soul killed more than one fifty people, Bloomberg's so he Kim reports from Soul, there were tens of thousands of people packed in a narrow alley on a hill, and suddenly it went out of control, as people described as they were falling like dominoes Bloomberg, so

he Kim and Soul. The man accused of attacking Paul Pelosi, the husband of Speaker of the House Nancy Pelosi, is expected in court today to face attempted murder and other charges. Investigators are examining forty two year old David to Pop's social media pages, which allegedly include false conspiracy theories about the election. There's word Pop had zip ties and duct tape and his bags Friday when he allegedly broke into

the Pelosi's san Francisco home. There are calls this morning for the United Nations to broke of the resumption of wheat exports from Ukraine. Bloomberg's backs are as the story. Russia is blocking the departure of any ships carrying wheat out of Ukraine, saying that drone strikes are originating off the ships. President Joe Biden says, very concerning. Truly outrageous is from increased targation. There's no reason for them to do that, but they're always looking for some rationale to

be able to stay green. They're doing something outrageous is because the West made them do it. Ukraine says two eighteen ships in total have been blocked in San Francisco. I'm at Baxter Bloomberg Gay Break. Donald Trump's company, the Trump Organization is on trial this week for criminal tax frond. Opening statements and the first witnesses are expected today in New York. Among the key prosecution witnesses Trump's longtime finance

chief Alan Weislberg. Global News twenty four hours a day on air and on Bloomberg quick Take, powered by more than twenty seven hundred journalists and endless more than twenty countries. Michael Barr. This is Bloomberg Gaming. All right, thank you, Michael. Time now for the sports before Rosy by Tri State Audie. Here's John stash Our. Thanks aman Gino. Smith was a high draft pick of the Jets. Spent one year with

the Giants, mostly as a backup quarterback. That's been his role almost his entire career, but Seattle trade of the unhappy Russell Wilson gave the job to Smith and he's been a sensational leads the NFL, and completion percentage led the Seahawks to win over the Giants. Smith was asked about beating his old team Austin one year with the Giants, and so that year to me was like a blur, and uh, you know, my life has moved on from then.

I don't have any remorse towards anyone there. Uh. In fact, you know this, to me, this game was been back and doing Jerry Reece. They believed in me, and so as far as you know any other thing, I don't really care for it. Um, you know, I'm happy to be here in Seattle. Imcative and Reese with the Giants coach and GM back in two thousand and seventeen, Giants offense struggle. The only touchdown was due to the Seattle

fumble at their own two yard line. Quiet day for sake, kwon Barkley a season low sixty two yards from scrimmage. Giants four game win streak ends. They go to the bye week six and two, tied for second with Dallas and Philadelphia one again. The Eagles are seven oh. The Jets also had their four game win streak, and they're losing. Drake versus New England grew the thirteen the Patriots one of met Life twenty two to seventeen. Zach Wilson threw

three interceptions. Bill Belichick now the second winning his coach in NFL history, trailing only Don Scheul the Jets. Next week, I have to play Buffalo. The Bills last night sent Green Bay to a fourth loss in a row. Knicks Blue A lost in Cleveland one one to one, oh as the Calves won the fourth quarter of thirty two to fifteen. Donovan Mitchell scored thirty eight against the Knicks, of course, tried to acquire him in the off season. Rangers won three two at Arizona, Devil's all over Columbus

seven and one. The Astros and Phillies tied at one play Game three the World Series. Tonight, John Bloomberg Sports Team, All right, thank you, John. It is sixty seven on Wall Street. Time to take a look at stocks and some of the names that are moving in the free market. And for that we're joined by Bloomberg's Danny Burger. Danny, it is a pleasure, thanks for joining us this morning.

What you got for us? We'll starting off with chip stocks, and and look, they've they've been under under pressure really I don't know over the past two years, but every little incremental news we get does seem to be a little bit more painful for them. So the latest comes out of China with con there of course, uh the main manufacturer for Apple, and they're trying to look at alternative sites to start production because of the disruption that's happening in Chinese plants. So what does it have to

do with US stocks? A lot of these US chipmakers are under pressure because of that. This morning, again just another piece of news of the supply chain issues facing companies who have to deal with the COVID nineteen fallout in China, specifically tech and chipmakers. So A A M D for exact ample that's falling more than one percent pre market, as is in video at this moment. And

let's turn our attention now to Emerson Electric. What's going on. So, yeah, it's one of these big industrial companies, and this is from a Wall Street Journal story that Blackstone, the private equity giant, is going to be buying a fifty percent stake in their climate tech business. So this is things

like compressors, residential and commercial heating and cooling. UM. One of the interesting things about this deal versus, you know, just the deal itself is that usually what happens is banks provide the debt financing from this, but banks have really pulled back from that they don't really want to take on a risk. So interestingly, Blackstone is placing the debt itself, selling it off to direct lenders. So even

just the shape of the deal is pretty interesting. But for Emerson it does mean a boost to their shares.

They also reported earnings this morning that beat expectations, so that plus getting a little bit of funding from this Blackstone deal helping them move one in a third percent in the pre market trading and any there looks to be a great big deal with Thermo Fisher iman, this looks yeah, and I should say one of the one of the things interesting about this is it's a deal for a UK asset, So it's buying a UK diagnostic

firm for two billion dollars. Is buying this off of a private equity firm, Nordic Capital, and so yes, this is a sizeable deal for them. But one it reflects just how active dealmaking in healthcare has been. But also it's the theme I'm based here in London. Something we've been following is because of a strong dollar and a weaker pound, we continue to see US companies interested in UK deals. So this is yet another one adding to

evidence that perhaps the UK is on sale. I guess you could say, um, so, yeah, they're most fisher taking advantage of that. All right, Thanks so much, Bloomberg Television anchor and Market Drivers host Danny Burger. Always a pleasure. Thank you for bringing us your insights and letting us know what some of the names are that are moving in the pre market. Thank you for joining us looking at stocks in the whole ahead of the and futures are lower. SMP futures down twenty one points, deal futures

down one D fifty four points. Nastack futures down seventy nine, ten year treasury down ten thirty seconds to yield at four point oh five. Much more still to come on this Monday morning edition of Bloomberg Daybreak. This is Bloomberg. The Bloomberg Sports Report was brought to you by Audie. Don't let someone else drive off in the Outie model.

You've always wanted to visit your local try stay Doutie Dealer, get behind the wheel of yours today, or visit Outie Offers dot com for more information, markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, The Bloomberg Business at and at Bloomberg Quicktap. This is a Bloomberg Business Lash. I'm Nathan Hager. Futures are moving lower ahead of a very busy week for earnings and central banks. Let's head right over to the first road

breaking news down for today's morning call. Here's Bill Maloney. Good morning Bill, he and good morning Nathan. That's right. US futures are lower after Friday's surge, with down futures down a hundred and sixty one point says if he's dropped twenty two and nasdik futures decline by eighties six the US ten yeld at four point oh six percent, gold is down eight, oil is in the red, and

bitcoin is trading little changed. Japan rose one percent overnight, while up markets are quiet this morning, and back in the US. On the economic front at Chicago p m I and at ten thirty the Dallas Fed Regarding earnings this morning, Emerson Electric EPs beat estimates and a deal news thermal Fisher said to be near a deal for

two point three billion dollars for UK's binding site. In other news, the Verrge report that Twitter plans to charge per month for new Twitter Blue and wrapping things up, Glad was raised equate over Barkley's Andy was cut to market reform. Over at BMO Live from the First Breaking News Desk, go on, Bill Moloney, Nathan, all right, Bill, thanks to get more live breaking news on your Bloomberg tie Squawk on the terminal s q U A go, that's a Bloomberg business flashion. Now here's Michael Barr with

more on what's going on around the world. Michael, thank you very much. Nathan. Brazil's Lula d Silva edged out jayere Bolsonaro fifty point nine percent to forty nine point one percent to win the presidency. Bolsonaro hasn't conceded or commented. The Supreme Court revisits the issue of affirmative action today. The case before the Court will focus on admission policies at the University of North Carolina and at Harvard. In the NFL, the Giants lost, The Patriots beat the Jets seventeen,

the Commanders and forty Niners one. In the NBA, the next lost. The Celtics beat the Wizards on The Warriors lost. In hockey. The Devils and Rangers won. Game three of the World Series is tonight in Philadelphia. The Astros and Phillies are so far even at a game of peace. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than seven hundred journalists

nannialists more than a d countries. I'm Michael Barr, and this is Bloomberg n alright, Michael, Thanks, it's sixty nine on Wall Street. Let's turn to news and science and technology now. The Bloomberg n g I T STEM Report is brought to you by New Jersey Institute of Technology rank the top one hundred national University by US News and World Report at number fourteen in the nation on

Money's Best Colleges list. Learn more at n j I, T dot E DU now Here's What's making news and science, technology, engineering, and math. Elon Musk is preparing for a round of job cuts at Twitter. Bloomberg News has learned the company's new owner has asked managers to draw up lists of team members who could be let go. Musk has denied reports he plans to get rid of seventy five of

Twitter's dred employees. Challenges are mounting for Hong Kong's major financial summit this week, with three top executives pulling out and a tropical cyclone approaching. The latest to miss the summit is Blackstone President Jonathan Gray, who contracted COVID and China has launched the third and fine a module to complete its permanent space station, realizing more than a decade long endeavor to maintain a constant crude presence in orbit.

Main Tian joins Wen Tian as the second laboratory module for the station. Main Tion weighs in at about twenty tons. It will provide space for science experiments in zero gravity and airlock for exposure to the vacuum of space, and a small robotic arm to support extra vehicular payloads. That's the Bloomberg j I. T Stem Report. Amy all right, thank you, Nathan, and we are live from the Bloomberg

Interactive Brokers studios. It is six fifty one on Wall Street Time Now to check what's going on in d C. Some of our top stories in the nation's capital include the reaction to the attack on how speaker Nancy Pelosi's husband. We're going to get the very latest President Biden cast in his mid term ballot before the final campaign stretch. And we're gonna take a look at the U S

relationship with Brazil after Lula da Silva's election. We want to get more on these stories from Bloomberg Government reporter Emil Wilkins. She joins us. Now, Emily, good Monday morning to you. Let's start with Nancy Pelosi. That attack on her husband just a few days ago. Lawmakers have been voicing concerns about security for weeks. Now, how does this change the picture? Oh, I mean, Amy that it's it's weeks. It's months. It's really since uh January, uh six of one.

You saw a lot of increased threats on lawmakers on their lives, and you have seen a number of cases like Progressive Privilege EA Paul as well as a Republican Senator Susan Collins, report that there were various attacks and attempts on their life and you have seen that some

response within the Capitol hell community. UH. This past summer, Sergeant of Arms told lawmakers that they could get up to ten thousand dollars to help billster their personal homes, installed security cameras, make sure they have shatterproof windows, various

measures like that. But clearly what we saw in the case of Pelosi is that it just wasn't enough, and it really reawakened a lot of these fears that with five thirty five members of Congress plus the delegates, it feels like it's only really a matter of time for something truly tragic happens. We saw this back way back at the start of the year with UH start of

the decade, really um with Gabrielle Difference being shot. We had the shooting with that her hit Steve Scaleeze in the leg um, and every time there are calls to

do more. But it really seems like in the last two years, we've seen more of a ramping up and a ramping up of threats onto lawmakers, and I think there's still a question of what exactly is going to be done at this point, if we are going to see more support for lawmakers in the upcoming year and spending bill, perhaps, if there are going to be more

security measures. But I think it's from the response you've seen from lawmakers, there's also an acknowledgement that we are living in very partisan, very divided times right now in the US, and that atmosphere is really going to have to change before some of these threats begin to die down. Yeah, I wanted to ask just one more question about that, because as partisan as it is, it does seem like the lawmakers can agree that there's no place for violence

in these politics. Um, do you anticipate seeing something move on the House floor, on the Senate floor, on Capitol Hill at all? I mean, it's the potential. At this point. Most lawmakers are are pretty focused on the election, so there isn't too much chat on legislation, But I think there's also a lot of calls that you know, there needs to be more civility. You've seen a number of Rebublicans come out and condemn violence, but you've also seen

some continue. Republican Congressman Clay Higgins uh promoted a conspiracy theory about Flossie and about who the person who attacked their home was. Certainly things like that. You know, they don't go to cool partisan tentions. Now, this is all happening just days before the midterm elections Emily, and we already know that President Biden has cast his ballot. What do you say from the polls? What are you hearing?

So the polls just show an incredibly tight race. The boots that we saw from Democrats over the summer has basically managed at this point a number of races where Biden one by one, the district by ten points, one the district by twenty points have now become competitive races where Republicans are spending money in and so it doesn't look good for Democrats. Certainly, their chances of holding onto the House at this point, according to the polling team,

very very slim. Republicans are likely to pick up but probably between a dozen and twenty five different seats according to what we've seen from some analysts south there and in the Senate and the races where Democrats really needed to to hold onto seats like in Nevada, in Georgia where they need to flip seats like in Pennsylvania. All of those races are becoming so much tighter and closer for them. So there's a real question to UH as

to what's going to happen in Senate Chamber. We could easily be seen a government next year that as Republican, it is controlling both branches of sorry, both chambers of covert Congress rather and then have Biden in the White House. Are there any particular races that you're keeping your eye on, Emily oh Man A lot um. There are a number of really interesting ones. I was, of course in Nevada the other week, and so I'm keeping my eye on

the three house races there. It's interesting because usually when you look at large metropolitan areas, there's maybe one or two competitive races. It's interesting to see three competitive races in one city. And so I think that might be a really good bell weather as to how things go, particularly because Nevada has been hard hit by the economy, um and that's really the number one issue for voters

this selection. As much as Democrats are talking about a portion in January six and how much that matters to a lot of their base voters. UM Inflation really has continued to be the number one issue across the board UM. And so I think I'll go ahead and say and say that the vat a racist should really tell us a lot come election night. And we're gonna be watching the turnout as well, especially with the early voting and the mail in balance that's going to also tell the tale.

And I wanted to shift to more global politics. Now. President Biden has already congratulated Louise and CEO Lula da Silva on his election win in Brazil. I want to ask you what we can figure this would mean for US relations with Brazil. Well, they'll probably get a little bit warmer. Of course. The current president of Bulsonaro, he was an ally of former President Trump. He never recognized Biden's election victory and continue to question it when he

did meet Biden. Obviously that that didn't really endear him uh to Biden. And so you have Da Silva who is probably a little bit more friendly to Biden, friendly to Biden's policies. Listening to the speech that he made last night, he echoed a lot of themes that we've actually kind of heard from Biden. This putting aside partisanship,

this working to read il BRASILTA to make it better again. Um, And so that was things that that we're hearing from him, and it kind of singles, um, you know that that he invited might wind up being a little bit closer of allies. Alright, Bloomberg Government reporter Emily Wilkins, thank you very much. Always a pleasure, and you can read more about these stories on Bloomberg dot com or on the Bloomberg terminal, and a reminder, follow all of the latest

on Bloomberg Radio in Washington. Bloomberg ninety nine one and one oh five point seven f m h D two features lower SMP futures down twenty one, DAL futures down one, NAZDAC futures down eight three, the tenure treasury down seven thirty seconds, the yield at four point oh four percent. Bloomberg Surveillance with Lisa Brahma, Wits and Jonathan Farrow coming up next along with Nathan Hagar. I'm any Morris. This is Bloomberg