Bloomberg Daybreak: October 5, 2022 - Hour 2 (Radio)

a big bust of rainbow fentamil plus. President Biden heads to Florida today to look at Hurricane A inststruction. I'm Michael blar more An, I'm John Stashower and sports baseball history.

Aeron Judge, in his record breaking sixty second over on the Atlanta Braves, clints the l E that's all's trading head on Bloomberg day Break on Bloomberg eleven three on New York, Bloomberg one, Washington d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius x M one nineteen and around the world Old on Bloomberg Radio dot Com and via the Bloomberg Business App. Good morning,

I'm Kared Moscow. I'm Nathan Haygar. Bloomberg Daybreak is brought to you by s E. I imagine your asset management firms operational infrastructure as a competitive advantage. Let se I show you how at se I C dot Com, slash, I m S and us sucket Next futures are lower this morning six oh one on Wall Street. We check the markets every fifteen minutes throughout the trading day. On Bloomberg s and P futures down thirty six points down, Future is down two and NASDACK futures down one hundred ten.

The ten year treasury down seventeen thirty seconds. He had three point seven zero percent, and they yield on the two year four point one two percent. Nathan Karen, We'll get back to markets in a moment, but we begin with Elon Musk reviving his bid to buy Twitter. He will make the acquisition at the original price of fifty four dollars twenty cents is share. Now, attention turns to the path ahead for Musk and Twitter. Ross Gerber with Gerber Kawasaki says the world's richest man could be in

for a bumpy ride. He's paying the highest price possible. He's trying to get dead at the worst time possible. He's basically being forced to buy this company. It's not like he changed the heart. I think his lawyers just told him he was gonna lose. This is a mess. Ross Gerber with Gerber Kalasaki says Musk is acquiring the company with employee morale at an all time low. Twitter shares close higher yesterday, and Tesla shares rose on the

news as well. They climbed nearly three percent this morning, though Tesla is down about one and a quarter percent. Attorney to the broader markets now, nathan Us futures are lower following two days of gains. Optimism for a so called FED pivot maybe waning. Phil Palumbo, CEO with Palumbo Wealth Management, says this week's gains are likely a bear market rally to reduce some of the wrist wood ball. We've been investing in cash right now, and we're taking

advantage of all too. As we're in this bear market and as we believe things will get worse. Will put those Moneys to work in good quality businesses as long term investors. NFL Palumbo with Palumbo Wealth Management says he expects inflation to fall from here, but he also predicts the volatility will continue well. This morning's dropping futures Karen follows hawk is rhetoric from more central bank officials. FED Governor Philip Jefferson says reducing inflation will likely require a

period of weak growth to ease demand. Also speaking yesterday, San Francisco Fed President Mary Daily, she calls inflation a corrosive disease. Right now. The pain that I hear every day, the suffering that people tell me they're going through, is on the inflation side. And this is true of low and moderate income people, not just people who are worried that inflation expectations will draft. They're worried about their day to day living. And stay tuned for more from San

Francisco Fed President Mary Daily later this morning. We'll sit down with her for an interview live on Bloomberg Radio and Television at ten fifteen Wall Street Time. Well overnight saw stocks and Asia rally for a second straight day. Nathan traders are betting that the global monetary policy tightening cycle will soon ease, and Bloomberg's Juliette Sally joins us from Singapore with the latest Good Morning, Juliet, Good Morning Parent.

The regional Benchmark Index climbed as much as one point eight percent, led by a surgeon, consumer discustionary and tech stocks like t SMC and Ali Barber, and that brought the measures two day rally to more than a four percent,

the best two day games since March. Stocks in Hong Kong the region's best performers, the Benchmark Hang Sang Index jumping more than five Percenters trading resumed following a holiday, and the Kiwi In New Zealand, bonds rallied as the ABENZ followed up with yet another fifty basis point hike, the fifth in a row in Singapore. Juliette Sally Bloomberg Daybreak, Juliet, Thanks, Let's turn to Europe now, where it's all about UK politics.

Prime Minister Liz Trust is delivering a speech at the annual Tory Conference in Birmingham aimed at reviving her beleaguered premiership. Bloomberg's James Willcock is there and joins us with the very latest Good Morning, James, Good Morning, Karen and Nathan. Liz Trust's honeymoon is over now after humiliating U turn and market chaos. She needs to prove to the Conservative party that elected her only a month ago that she

can actually lead the government. She acknowledge that's struggled in her speech, saying wherever there is change, there is disruption. But even ahead of that speech, divisions in her party are coming to light. Even members of the Prime Minister's top team are in open disagreement over what to do next. In Birmingham, I'm James Wilcock, Bloomberg Daybreak. All right, James, thank you to politics here in the US now, where

Donald Trump is back in focus. The former president is asking the Supreme Court to let a court appointed special master review classified documents sees from his Mara Lago home. To move escalates the Justice Department's investigation into whether Trump or his aids illegally took sensitive government records when he left office and obstructed repeated efforts to recover them. In

New York, here and we got word. Micron Technology plans to invest as much as a hundred billion dollars over the next twenty years to build a factory in the state. It's the latest bid to boost US production of memory chips. Governor Kathy HOCl says it will create about fifty tho jobs in New York State. We believe that this is going to be a catalyst not just for this company and jobs to come here, but also the supply chain companies. It will say, you know, I don't want to manufacture overseas.

There's so many disruptions. New York Governor Kathy HOCl spoke with David Ston on Bloomberg's Balance of Power. Catch the program weekdays at noon on Bloomberg Radio and television. Well turning to corporate news now, Nathan Amazon is pausing hiring for corporate positions and its retail business. It's the latest sign that Amazon is adjusting its workforce to slowing online sales. Sources say the company will pause recruitment until the end

of the year. The priest does not apply to its warehouse network, where most of its employees work and Karen's E cigarette manufacturer Jewel has begun talks for funding for potential Chapter eleven bankruptcy. That's according to people with knowledge of the preparations. They say it's not final. Plans could change. A Jewel spokesman says the company is still considering other avenues and right now SMP futures are down thirty three points.

Staff futures are lower by two hundred seventy three. NASTACK futures onto decline by one one points. The tenure treasury is down fifteen thirty seconds. You'll three point six nine percent. You'ld on the two year four point one two. Nimex cruds down to tenth per cent or eleven cents at eighty six dollars forty one cents a barrel. Coomas gold is low were by eight tenths percent at seventeen sixteen sixty announced. The euro point nine against the dollar, the

pound one point one three one. The yen is at one point four nine Bitcoin trading around twenty thousand one dollars. Straight ahead your latest local headlines and a check of sports. This is Bloomberg and it's now six oh seven on Wall Street, fifty six degrees of brain in Central Park, still dealing with big problems Route eighty getting through Patterson. This morning, Michael Barr has more on what's going on in New York and around the world. Good morning, Might call,

Good morning Nathan. The New York Division of the Drug Enforcement Administration and local law enforcement say they've made a significant seizure of Rainbow fentonil in Manhattan. The seizure of nearly fifteen thousand pills happened on September twenty eight, when a vehicle under surveillance by the d e A was stock outside the Lincoln Tunnel. Bridget Brennan is New York City Special Narcotics Prosecutor. They approached there and found Letitia Bush in the rear seat with two black tote bags

and a yellow Lego container. Right there inside the Lego container were several brick shaped packages covered in black tape line next to lego blocks. Prosecutor Brennan says, Bush was arrested d e A Special Agent in charge, Frank Tarantino, this is deliberate, This is calculated. This is treacherous deception to market Rainbow fenanel like candy. Frank Tarantino with the d e A says, with Halloween approaching, these newly packaged

poisons our parents worst nightmare. Mourners will say their final goodbyes to an f d N y E M S Lieutenant. Funeral services take place today for Alice and Russo Elling and Brookville. She was fatally stabbed last week in an unprovoked attack. The f d n Y says Russo Elling, who was sixty one, will be posthumously promoted to captain today. President Biden will had to Florida today to meet with

Governor Ron Descantis. Days after hurricaney and pounded Florida Southwest, crews are still conducting door to door searches for survivors. Fort Myers Beach Mayor Ray Murphy nobody was spared this storm. Every structure on the island was a second. Mayor Murphy says the city will rebuild. President Joe Biden will be in New York State tomorrow. The President heads to a jobs event hosted by IBM and a pair of fundraisers

ahead of the November midterm elections. A White House officials says the trip will include a visit to the IBM campus in Poughkeepsie. Biden is later expected to travel to New Jersey for a fundraiser hosted by the Democratic National Committee. Gas prices can rise again on expectations of a large cut and crew to oil production from the OPEC arctel.

It meets today Global News twenty four hours a day on air and on Bloomberg Quicktake powered by more than seven hundred journalists and analysts and more than a hundred twenty country He's I'm Michael bar This is Bloomberg, Nathan. Thank you, Michael. Coming up to six ten on Wall Street time for the Bloomberg Sports Update. Aaron Judges in the record books, John Stash, Are you know, Nathan? They've been playing baseball in the American League for a hundred

and twenty years. The three most home runs hit a single season all by Yankee outfielder's the sixty hit by Babe Ruth, seven sixty one hit by Rodgermaris nineteen sixty one and now sixty one years after that move over Rogermars. Aaron Judge let off the second game of a double header and texts the one one swing on there it goes tap blood that is hot. Hut us far hut us come number sixty two to set the new American

League records. Aaron Judge hits his sixty second all the Yankees out of the dugout to greenhand f Ana had the call. It came off the Rangers. Hey SEUs Tonoko is third pitch of the game, a slider that Judge hit to the left field stands. It was caught there by guys, apparently a wealthy banker, and so far anyway, holding onto the ball judges season has been amazing, twenty three more home runs than anyone else in the league, only forty four fewer home runs in the entire Detroit Tigers.

And oh, by the way, he's gonna be a free agent after the season. The Yankees split the double header. They learned their opponent in the division series will be the winner of the Wild Cards series between Cleveland and Tampa Bay. The Mets learned their opponent in their wild Card series this weekend in City Field will be the San Diego Padres. Met swept the double header from Washington, but Atlanta clints the NL East with a win in Miami preseason NBA and next meet the Pistons of the Guard.

The Islanders have locked up Matthew Barzel new eight year, seventy three million dollar contract, John Stashy Howard Bloomberg Sports, Nathan Okay, John, thank you, s ANDP Futures down thirty four points down. Futures down tune to eighty six. Dance dex futures are lower by a hundred four points. The British pounded one point one three eight three against the dollar. As UK Prime Minister Liz Trust begins to speak to

her concern Servative conference. We check in live next in Birmingham with Bloomberg's James Woolcock Bloomberg eleventh three oh weather. This rain will taper off, the afternoon showers to clear out. By this evening we'll get up to around sixty degrees clearing milder tomorrow, low seventies, sunny, low seventies for Friday right now fifties six in Central Park. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com,

the Bloomberg Business at and at Bloomberg Quicktake. This is a Bloomberg Business Flash, and I'm Karen Moscow. US stock index futures and European shares are falling as investors scaled down their optimism for less hankish central banks and seek more evidence that inflation is moderating. We check the markets every fifteen minutes so out the trading day on Bloomberg Guess and P futures down thirty seven points down, Future is down three hundred three and nasdack futures down one

hundred seven. The decks in Germany's down nine tenths of upper sent the tenure Treasury down seventeen thirty seconds three point seven zero percent. They yield on the two year

four point one two percent. Nimex screwed oil is down four tenths per cent to thirty seven cents at eight six dollars fifteen cents of Barrow Comex gold is down one point one percent or eighteen dollars twenty cents at seventeen twelve thirty announced hero po five against the dollar, British found one point one three seven seven and began one forty four point four seven, and Bitcoin is down

one point one percent at twenty thousand, one hundred dollars. Today, we are watching for our report on private pay rolls at any fifteen Wall Street time at eight thirty. Is a trade balance, then a tend to look at service industries. That's a Bloomberg business flash. Now here's Muchael Barr with more on what's going on around the world. Michael Darren, thank you very much. Recovery efforts continue in Florida made the devastation left by hurricane and President Biden plans to

visit the state today. United Airlines is said to be restarting Hong Kong flights as soon as January. It's one of a hand full of major airlines to resume passenger flights to the city, which has largely been cut off to the outside world since the start of the pandemic. In baseball, Yankee slugger Aaron Judge hit his sixty second home run of the season to break Roger Maris his American League record, and happened in Game one as the

Yankees split a double header with the Rangers. The Mets swept the double header against the Nationals, but the Brave still clinched the NNL East with a wind over the Marlins, the Red Sox and A's one the Giants lost. Global news twenty four hours a day on here and on Bloomberg Quick Take, powered by more than journalists and analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan. Thanks Michael. It is six nineteen on Wall Street Live

from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. We want to turn out of the political drama in the UK. Prime Minister Liz trust is addressing her fellow conservatives right now at their party conference, trying to get her economic agenda and her premiership back on track. She just began speaking moments ago. Let's listen into part of what she's had to say. We got a at a vital time for the United Kingdom. These are stormy days. Together.

We've mourned the death of Queen Elizabeth the Second, the rock on which modern Britain was built. We're now in a new era under King Charles the Third. We're dealing with the global economic crisis caused by COVID and by Putin's appalling war in Ukraine. In these tough times, we need to step up. I'm determined to get Britain moving, to get us through the tempest and to put us on a stronger footing as a nation. I'm driven in this mission by my firm belief in the British people.

I believe that you know best how to spend your own money to get on in life and to realize your ambitions. The UK Prime Minister Liz Trust as she continues speaking this morning at the Wary conference in Birmingham. Let's check in live with Bloomberg's James Wilcock, who has been covering this event. For the last several days here, and it has been a tumultuous a few days. Of course, James, what else is standing out from this speech for you,

I mean, Nathan. Just as I'm watching this now, protesters have stormed the stage to just a minute ago, two process has tried to unveil a Greenpeace banner for climate change. Activists have had to be dragged out, and this just sort of responded to it by saying, I'm gonna be talking about the anti growth coal issue that people who are holding us back and later on this speech, but they seem to proviriving a little early, so she handled that quite well. But she is now trying, Nathan, to

reset her agenda. She's talking a bit about her history, how she comes to politics and why she cares so much about growth and what has led to her making these choices that she has made, and also you turned on earlier this week. It's been an incredible few weeks for her, having to have seventy years of the Queen's rule and deal with that funeral only a week into the job, and now a month into the job, she's having to say about her entire policy agenda in spite

of the market chaos the UK has been facing. It's a very difficult ask for a very new prime minister. Yeah, and it's been a very difficult time for obviously when she's had to reneg on some of this economic agenda that she's put forward, particularly on the text cuts for the wealthy. Is there a sense that she's going to firm up around an economic agenda, the sort of adjust to the reality of the political head whence she's facing

from within her own party. Well, the difficulty is is that the Chancellor has said that he isn't able to unveil his economic plan for how he's going to pay for all this sort of fiscal stimulus until November twenty three in the speech. What we're effectively watching for is how she performs. Can she bring the party back on side, because one of the big danger in the UK's list

trusts support within her own party is so fractious. Is what this sort of conference has unveiled that when they go back to Westminster next week there are real questions swirling about if she could actually pass any of her measures into legislation or will there be a lame duck administration. Yeah, I know you've been speaking to conservative members throughout. I guess what Conservative members who have shown up to this conference so far, what have they been telling you about

whether they do support the agenda from lost Trust going forward. Well, in terms of the rank and file, it's fascinating the ones who are free to talk to journalists. The staff as who work for MPs is always an interesting indicator. I have had more than than I can count on one hand tell me they are looking for jobs outside of politics because they don't expect to win the next election, So that's always an interesting indicator. They aren't optimistic at all.

And like you've mentioned, the MPs, the members of part of the lawmakers who are part of the party, So many of them haven't shown up and a lot of them have gone home yesterday because today in the UK there are rail strikes plans specifically to try and hamstring attendance this events, which just goes to show the scale

of unrest the UK is facing. This Trust has such an uphill battle and in this speech we will be judging to see if she can reset the agenda and bring back they in time to be back to Western's the next week. I try and pushed through this big agenda rail strikes, rancor within the party and green Peace protesters. It just sort of encapsulates the atmosphere in the UK right now. As you mentioned, an uphill climb might be

understating things for Liz Trust. Thanks for this, James, great work covering the Tory conference throughout these last few days. Here James Wilcox joining us this morning from the Conservative Party conference in Birmingham, England, where Prime Minister Liz Trust is continuing her address. You can watch it on the

Bloomberg terminal at live Go. We also have a blog running with our top Live team t l I v go UH to get more on what the Prime ministers had to say, an instant analysis of her comments as they happen. Looking ahead to the market open here on Wall Street, futures are moving lower. SMP futures are down thirty four points down, futures down two to eighty three, NASTAC futures lower by nineties six points. British pound one point one three eight three against the dollars, so weakening

on the cable rate. You're listening to Bloomberg day Break Bloomberg eleven three oh weather rain will taper off and should be done by this evening, we'll get up to your sixty degrees clearing low seventies Tomorrow sunshine low seventies continue for Friday. Right now fifty six in Central Park, broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Free to Washington, d C. Bloomberg nine

one to Boston, Bloomberg What all six one does? San Francisco, Bloomberg nine sixteen to the country Sirius XM chto one nine ten, and around the globe the Bloomberg Business app and Bloomberg Radio dot com. This is Bloomberg Daybreak, six thirty on Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow. We're just about three hours away from the open of US trading. Time for the five things that you need to notice start your day. To you

buy Interactive Brokers. Interactive Brokers charges Martin loan rates from three point five eight percent to four point five eight percent rates subject to change. Learn more at ibk r dot com. Slash compare. At first, we begin with Elon Musk reviving is bid to buy Twitter. He'll make the acquisition at the original price of fifty four do twenty cents of share. Ross Gerber with giber Kawasaki says the world's richest man must focus on mending his relationship with

a company and its employees. It's not distrust, it's hate. They hate him. He's created a situation. And I love Elon, you know, I'm I'm a fan and supporter, don't get me wrong, but I have friends of Twitter and they hate him. Now, if I'm Twitter, I'm not going to get rid of this lawsuit at all. I'm going to force specific performance on Elon because there's no trust there at all. Ross Gerber with Gibert Kawasaki says Muski is acquiring the company with employee morale at an all time

loan on. Twitter shares closed twenty two percent higher yesterday. They're lower this morning, down about four tens of upper at Tesla's years also jumped on the news, climbing nearly three percent, and they're also lower this morning, down one point one percent. Now. The broader markets lower as well. Karen futures are falling following wing a hawkish rhetoric from

several more Central Bank officials. San Francisco Fed president Mary Daily spoke yesterday and stressed the importance of price stability, Unlike it's a great time to be a worker. Workers have all this power. I don't see a lot of power if your real wages are following nine. And so that is sort of an example of why inflation is a corrosive if we let it go, it's a corrosive disease.

And hear more from San Francisco Fed President Mary Daily later this morning, we sit down for whether for an interview live on Bloomberg Radio and television at ten fifteen Wall Street Time. Well overnight saw stocks and Asia rally for a second a stray today, Nathan, with traders betting global monetary tining release soon. It's a different story in Europe this morning, where stocks are following US futures lower.

Now we continue to keep an eye in UK politics, Karen Prime Minister Liz trust is speaking at the annual Tory conference and burning him that seemed at reviving her beleaguered leadership. Well back here in the US, Nathan, politics also in focus, Former President Donald Trump is asking the Supreme Court to let a court appointed special master review classified documents sees from his Marilago home. And that's the five things you need to know to start your day.

Brought to you by Interactive Brokers. Futures this morning are lower SNP futures down twenty eight points and Down Futures down two eight and NASDACK futures down eighty one and straight ahead. We have your latest local headlines plus a

check of sports. This is Bloomberg. Thank you, Karen. It is six thirty three on Wall Street, rain in fifty six degrees in Central Park to focal point continues to be Patterson Root eighty Big issues their details coming up in traffic First Michael Barr with what else is going on in New York and around the world. Michael, thank you very much. Nathan. Mourners will say their final goodbyes to an f d n Y E M S Lieutenant. Funeral services take place today for Alison and Russo l

A in Brookville. She was fatally stabbed last week in an unprovoked attack. The f d n Y says russo Elling, who was sixty one, will be posthumously promoted to captain. Today, the New York Division of the d e A and local law enforcement announced the results of the first significant seizure of Rainbow Fentinel in Manhattan. The seizure of nearly fifteen thousand pills happened on September when a vehicle was stopped outside the Lincoln Tunnel, where they discovered the pills

hidden in black tote bags and a lego container. Bridget Brennan is New York City Special Narcotics prosecuted. My office and our partners are committed to disrupting high level narcotics trafficking by intercepting large loads of lethal drugs and drug proceeds. We do this to protect New Yorkers and to save lives. Prosecutor Brennan says, the person in the car, Letitia Bush

of Trenton, was arrested. President Biden will visit Florida today to tour the damage caused by Hurricane and more and one hundred people were killed by the storm in the US. President Biden gave a stark warning while talking about the Task Force on Reproductive Healthcare Access. According to the President, if the Republicans win Congress this year, states that retained abortion access rights could lose that as well, and the Congress should codify the protections of ROW and do it

once and for all. But right now we have we're short a handful of votes. It's the only way it's going to happen is if the American people make it happen. At least fifteen states have stopped nearly all abortion services since the Supreme Court overturned Roe v. Wade in June. Micron Technology says it plans to invest as much as a hundred billion dollars over the next twenty years to build a factory and upstate New York to boost the

US production of memory chips. The factory, to be built near Syracuse, plans to create about five fifty thousand jobs. Governor Kathy Hokel with Bloomberg's David Weston, spoke about New York's five point five billion dollars in the project. This is UH an enhancement of a program that already exists where we'll give tax credits after jobs are created. So this is not a blink check and you you know, hoping to wing in a prayer. No, this is concrete.

It's money that will be spent over the twenty years as the jobs are created, Governor hocole. Globally, there's twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. How Michael Bart, this is Bloomberg, Nathan, Thank you Michael, six thirty six on Wall Street for the big number this morning is sixty two.

There's John stash Are the Bloomberg Sports Update. All right, Nathan Aaron Judges pursuit of Roger Marris is indeed finally over number sixty two. Hit in game number one sixty one. It became a fair apparent a few months ago that might be tough for Judge to reach. Barry Bonds is seventy three, but that Roger Marris's American League record was in reach. He hit his six over two weeks ago.

It took him eight games to get sixty one, and then five more games without a homer, including the open were the double header in Texas, but Judge let off the second game shot the left field off the Rangers. Hey, susan Oco, he'll be the answer to a tribute question.

All of his Yankee teammates greeted him at home played, and later Judge was asked what he'll remember about this experience seeing Yankee Stadium on their feet for every single I beat you know, they're booing pitchers for throwing balls, you know, which I've never I've never seen before. And you know, I think I got a base at the other night and I was getting booed for a single. You know. It's just you know, a little moments like

that you look back on. You know, would have been great to do it at Yankee Stadium in front of our home fans. But I know a lot of Yankee fans they travel if they travel well, and there's a lot of Yankee fans here tonight where this record got so much attention because it's also the so called clean record bombs mark with wire Sammy Sosa seasons all tainted by steroids. Yankees beat the Rangers five four and then lost three to two. They finished the season today going

for their one win in the Division series. They'll play either Cleveland or Tampa Bay. The Mets swept the Double Letter from Washington four two and ain't nothing. They'd won a hundred games, but we'll finish second behind it Plant. The Braid's planned to the Metal Faith San Diego and the best of three wild Cards series at City Field

that starts on Friday. John Stasha war Bloomberg Sports. Thank you, John sixty seven On Wall Street, Time to take a look at stocks, some of the names moving in the pre market with Bloomberg Markets correspondent and television anchor Danny Burger with us this morning on a morning where it seems like investors are saying to themselves, maybe the Fed's not ready to pivot just yet after all. Is that kind of your read, Danny? Yeah, I mean, I don't know.

It just feels like a market that is just so bearish, or at least an investor sentiment that's sort of anything seems to excite us and say, Okay, maybe the Fed's gonna pivot, which is I think what we saw over the past two days, including a nice little shortcovering rally to really get stocks going. I think when you stop and you pause and you listen to what FED speakers have actually said, such as Daily yesterday, they certainly do

not sound like a group who are ready to pivot. Yeah, let's take a look under the hood just a little bit. This morning. Of course, we have to talk about the Elon Musk Twitter buy out back on it has been a saga that's just been riveting for the last few months here and how's it affecting the shares this morning, Danny, Well, so shares this morning are a little bit weaker pre market.

I mean that was after sort of a monster rally of of of two percent yesterday, So pre market down nearly half of a percent, So that's I mean, not too much of a retracement considering what happened yesterday. But still the fact remains the offer price, original one that Elon Musk is going through with is fifty four and

twenty cents. We are still below that fifty and seventy five cents, So you could kind of guess from that arbitrage that still exists between the two that there's still some lingering skepticism of how this deal will go through. Will it go through, even though again Elon Musk now saying his people at least that he will indeed by

the company. It's a great story on the Bloomberg terminal this morning about how yesterday was a great day for our orbs, all the people who bet on this merger going forward after all, And in our last a few seconds here, Danny, I have to think that you're gonna be keeping an eye on oil related stocks this morning. With Opec plus meeting. Yeah, So, I mean the numbers have rapidly increased to expectations of how much OPEC is

going to cut. Will it be? You know, half a million, will be one million, will be two million, at least that's where we've landed up this moment. If they do do a drastic cut, that likely means that oil is going to rally pretty substantially, and so a lot of the oil majors will rally in sympathy as well. All right. Bloomberg Markets correspondent and television anchor Danny Burger with us this morning, taking a look at what's happening in the

pre market. Quick check of nymex crewed this morning as OPEC plus meets in Vienna, getting just a bit of a bid. Had been a little bit lower, but now it's up about a tenth percent at eighty six dollars sixty three cents of barrel. As for the broader market, as far as equities go, they are moving lower after the fourth quarters started with a two day rally, given back some this morning, with S and P futures down twenty nine points, DAL futures down two and dance deck futures.

They're moving lower by eighty six points, and the tenure Treasury is down fifteen thirty seconds for a yield of three point six nine per cent. You're listening to Bloomberg day Break Bloomberg eleven three oh. Weather finally going to get better soon. We'll get up to near sixty today with showers tapering by the evening. Looking for sunshine low

seventies to round out this week. Right now, fifty four in Central Park Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow. And futures are lower this morning. We go to the first Word breaking News, dask for today's morning call, and here's Bill Maloney. Bill, good morning, Hey, good morning, Karen. That's right you. As futures are under

pressure after yesterday's surge. Without futures down two two points, subs drop twenty eight. Well, the NaSTA futures are off by eight five. The US ten year at three point seven percent, gold is down sixteen, Oil is in the green, and Bigcoin is trading lower by one percent. Hong Kong rose five point nine percent overnight, while up of markets are also in the red this morning and back in the US on the economic front at ADP Employment Change Services and Composite p M S and at ten o'clock

I S M Services Index. In other news city groups, Quad Strategists said the US stocks have only just begun to price in a recession and people familiar, so that Citadel's four hedge funds generated double digit returns this year. Rabbing Things Up, Church and White was raised by over at Deutsche Bank. Airbnb rated a new outperform well Bred Bernstein. Live from the First Breaking News desk on Bill Maloney. Karen, all right, Bill, thank you to here live breaking news

of your Bloomberg type squawk on your terminal scue. You a w K and that's a Bloomberg business flash. Now here's Michael Barr with Moore on what's going on around the world. Michael, Karen, thank you very much. President Joe Biden is traveling to Florida today. Biden will pledge that federal, state, and local governments the work has one to help rebuild homes, businesses,

and lives destroyed by Hurricanean. Former President Donald Trump wants the U S Supreme courts look into government papers, sees at as Mara and Lago home. Trump is asking the justices to let a court appoint in special master review one hundred documents with classified markings. In baseball, Yankee slugger Aaron Judge at his sixty second home run of the season to break Roger Maris is a l record. It happened in game one as the Yankees split a double

header with the Rangers. The Mets swept a doubleheader against the Nationals, but the Braves still clinched the NL East with wind over the Marlins, the Red Sox and A's one the Giants lost. Global news twenty four hours a day on air and on Bloomberg Quick Take are about more than seven hundred journalists and analysts in more than a hundred twenty countries. Michael bar this is Bloomberg. Karen Hery, Michael,

thank you. It is six forty nine on Wall Street and we turned to news and science and technology now with the Bloomberg and j I t STEM Report. It is brought to you by New Jersey Institute of Technology, whose n j II unit has joined with pharmaceutical giant Murk to establish the Merk Digital Sciences Studio to support drunk discovery and development. More at n j I, T DOT, E d U and here's what's making news in science, Technology, engineering,

and math. Climate change has made Hurricane Ian's most extreme rainfall about ten percent worse than it would have been without two centuries of greenhouse gas pollution, according to a first take analysis by two US climate researchers. The analysis shared on Twitter looked only at rainfall and not other critical climate metrics related to hurricanes. The full death toll will likely not be known for weeks. Damage estimates could

reach one billion dollars. Taiwan is pledging to work closely with U S and other allies as tensions between Washington and Beijing row. Taiwan will keep his advanced semiconductor development at home while adopting measures to stop its tech from being used by the Chinese military. And India's mission to Mars finally ran out of fuel after spending eight years in the outer world, according to the nation's space agency. The orbiter studying the surface and atmosphere was launched in

tw and was expected to last just six months. And that's a bloomberg n j A T STEM report. Nathan

Thank you, Karen. We are live from the Bloomberg Interactive Broker Studios where it's six fifty one on Wall Street Time now to check what's going on in d C. Some of the top stories in our nation's capital include President Biden to meet with Florida Governor To Santis during a trip to that hurricane ravage state, the President taking a muted response to North Korea's missile launches, Republicans standing by herschel Walker after report the Georgia Senate candidate paid

for an abortion, and former President Donald Trump taking his moral logo records fight to the Supreme Court. Let's get more now on some of these stories from Bloomberg Government reporter Emily Wilkins, Starting, of course, with the President heading to Florida. This is gonna be a trip to watch for more reasons than one. Emily, I mean absolutely, Nathan, I mean Ron de Santis is considered perhaps one of the leading contenders for the Republican Party, especially if we

don't see former President Trump run again. But at this point he and Biden are really trying to put aside any sort of potential showdown or frustrations and just really focus on addressing the folks in Florida who are hit by Hurricane Ian, and remember Ian too. This is coming just a couple of weeks after Ronda Santis had a couple of playfuls of migrants sent to Martha's Vineyard, causing you know, a lot of confusion, there a lot of questions about what services they needed, how to better take

care of them. For de Santis, it was meant, of course, as a political point about the situation at the southern border, but the Biden administration has really criticized that move, saying that they were playing politics with people. At the same point, they said that for now they are putting all of

that aside. White House Press Secretary Karine Jean Pierre said that there would be talk with homeowners and small business owners that they weren't going to be asking about that whole incident with the migrants being flowed up to Martha's Vineyard, and that overall they're just really trying to focus right now on making sure that the aid that is needed after Hurricane Ian is met. A much as they both might be saying they're putting politics aside, you have to

think that politics are at play here. Emily, with a midterm election less than five weeks away now, and Governor de Santis right in the middle of a re election fight. That's true, I mean to a certain extent, though the politics kind of benefit what they're doing right now. Politicians are very gudgly harshed on are are judged a lot on how they respond to hurricanes. You've seen careers be made or broke in Uh, You've seen particular moments really

stand out. Think about Chris Christie's embrace of them President Barack Obama when dealing with the hurricane that hit New Jersey in twelve and so this is certainly a moment where a big spotlight is on Biden and to Santis, and both of them know that right now it's really important for them not to be seen as playing politics, to be seen as addressing this uh in a very

serious way. Uh. The hope for I think both men is that that ultimately wins them points with the larger American people, and you know, could be a benefit to any potential future presidential run. All right, let's turn to geopolitics now, because the president has to focus on that as well, particularly with North Korea firing all these missiles over the last few days. And he's taking a much

different approach to this than his predecessor, to be sure. Yeah, so the launches, it's the first time North Korea has fired a missile over Japan in five years, and Biden responded by pledging to work more closely with Japan and South Korea. But he really hasn't promised much more than that, and that really is a difference from what we saw with the former president with Trump uh And at this point, a lot of it speaks to Biden's larger international focuses.

He's very focused on Ukraine, of course, he's very focused on Beijing in China and the relationship there, And this is one of the features that we've seen from the Biden presidency. Unlike Trump, you know, tried to meet with Kim Jong un, who exchanged letters with him, who had sort of a whole thing, Biden has really sort of

not paid much attention to North Korea. Um. Certainly he's had to sort of manage the threat that they pose with their nuclear weapons, but at the same point, he's really trying to keep the narrative on Ukraine and on Beijing rather than focus on North Korea and abortion rights of course, has become more of a focus as well, particularly this week with the President putting out an announcement yes to day and now this flap around Georgia Senate

candidate herschel Walker. Yeah, so we are going to be expecting to see President Biden uh putting out guidance for universities to increase protections for students who decided to have abortions. And it comes at this time with the Republican Party. Of course, there's there's a strong anti abortion sentiment there. Uh, it varies a little bit among candidates. But now you have the news that a leading Republican candidate in the Georgia's Senate race, herschel Walker, that he paid for an

abortion for a girlfriend about thirteen years ago. This was reported by the Daily Beast. Um they had receipts of a check that he signed to get well card that he sent to this woman. And at this point herschel as mirschel Walker, has denied any of these allegations. He says that they're not true, that he plans to sue the Daily Beast over it, and you've seen Republicans really rally around him. I mean as far as uh, no one's been calling him out of Republicans have said that

they believe him, that they still support him. He is still very much the nominee. And what's going to be a race that really defines who gets to control the Senate next year. Georgia is absolutely one of the ones to watch. And so for these types of allegations, serious backs up allegations to come out against their candidate and for Republicans not to blink an eye. Um, it's certainly notable as far as sort of how the party is thinking about abortion and thinking about what they need to

do to win in the mid terms. Also notable in our last minute here Emily, the mar Lago fight now going to the Supreme Court. Yeah, Trump is uh looking to the Supreme Court to intervene in a fight over governor papers sees that is Mara Lago home. Uh. He wants the justices to let that court appointed special master, that third party review a hundred documents with classified markings. And Nathan, this really escalates what we've already been seen

so far. Trump initially pushing for this special mass there to review the documents, and now he's pushing for them to really review these classified documents. And there are lots of questions around why, you know, why these documents would need to be reviewed by a third party. Of course, at the center of all of this is a potential national security risk that those documents could pose, and a lot of questions about what is in those documents. Uh.

It's also a bit of a delay tactic. The longer Trump spends UH in the courts arguing about which documents you should have, which documents should be reviewed, the more you've got the delay for the Justice Department and their investigations in your Trump. Thanks Emily. As always, Bloomberg Government reporter Emily Wilkins with us this morning. Bloomberg Surveillance is next on Bloomberg Radio for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg