Bloomberg Daybreak: September 7, 2022 - Hour 2 (Radio)

churches in New York. The new guidance from the White House on COVID vaccines. I'm John Tucker. Those stories straight ahead, I'm John Stashow. In sports, the Mets lost in Pittsburgh. Co Co Golf and Nick Carrios both lost their quarterfinal

matches last night at the US Open. That's all s train ahead on Bloomberg Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco Sirius x M one nine team and around the world down Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning, I'm Nathan Hagar and I'm Karen Moscow. When US futures are higher. This morning, we are coming up to six show one on Wall Street, and we check the markets

every fifteen minutes throughout the trading day. On Bloomberg. Right now, SNP futures are up about nine points down futures of forty six and NASDAG futures at forty one. The decks in Germany's down four tenths of upper cent, cat in Paris down a third of upper cent, and the foot Sea one hundred down six tenths of upper cent. Ten your treasury of twelve thirty seconds, you have three point three zero percent they yield on the two year three

point four or five percent. Nine max Screwed oil is up half percent or forty one cents at eighty seven dollars twenty nine cents. Of barrel comes gold is up a quarter percent or four dollars thirty cents at seventeen seventeen twenty announced the euro point nine nine eight against the dollar. Nathan no, Karen stocks in. You're a bar

falling is the US dollar continues it's strong run. The Bloomberg dollar spot dex hit another record overnight that is leading to tighter financial conditions weighing on risk assets around the world. Janet Movie is head of market analysis at Bruin Dolphin. There is just disinflationary impact from strong U West older there are other disinflationary impacts, for example lower Gesselin prices, So we do think that UH inflation is more likely to peak and slow will rapidly compared to

the other ponies. Janet Movie with Bruin Dolphin says she still expects the FED to increase interest rates at this month's meeting. Meantime, Nathan May gets him inside from the Fed, but the release of its Beige Book today that comes at two pm Wall Street time, a day before we hear from FED chair j Powelly speaks at the Cato Institutes Monetary Conference tomorrow to an into Bloomberg Radio and Television for live coverage of US comments around nine a m.

Eastern Now turning overseas now Karen. Markets in Europe are feeling the pain of the stronger dollar. It comes at a precarious time for the UK. New Prime Minister Liz Trust is filling her cabinet and working on solutions to address her country's cost of living crisis Bloomberg. Stephen Carroll joins us live from London with the Latest Morning Stephen,

Good Morning, Nathan and Karen. Liz Truss holding the first meeting of her new cabinet as we speak, after a sweeping reshuffle that saw her supporters elevated to the top jobs. Quasi quart hang as a new chancellor what Jacob riesmock takes over his business secretary Naturals faces the leader of the opposition Labor Party in Parliament later as we wait

details of her package to tackle soaring energy costs. People familiar with the plan telling Bloomberg that it could see the government spending as much as two hundred billion pounds to cap prices, adding ten percent to the UK's national debt. In London, I'm Stephen Carroll, Bloomberg Daybreak, Stephen, Thanks for the strong dollar. Wait on now sets in Asia overnight sh Sheldon lows from they have twenty while Asian currencies weakened sharply and Bloomberg. Juliet Salley joins us from Singapore

with the latest. Good Morning, Juliet, Good morning, Nathan and Karen. In Japan, the yen sank one with officials warning they're concerned about rapid one sided moves. China meanwhile said it's you on reference rate with the strongest bias on record, a signal of discomfort with the swooning currency. South Korea's one was the worst performing Asian currency, prompting speculation of intervention. The Kiwi and Singapore dollars fell to two year lows,

adding to the downbeat sentiment. The latest China data showing the nation's export growth sloide more than expected in August, adding to signs of a flagging world economy in Singapore. Juliette Sally Bloomberg Daybreak, All right, Juliet thanks sticking with the end for a moment. The currency slumped to a level leaving it on track for its worst year on record, and that is prompting signals from government officials that Japan would need to take action if the rapid one sided

the moves continue. Bloomberg FX reporter Ruth Carson says, at this point we could see government intervention. Policymakers haven't changed their language to indicate such a move would happen anytime soon, but look out for phrases like we won't rule out any options to combat excessive movements, or we're ready to take decisive, bold action to counter excessive or speculative moves. Bloomberg's Ruth Carson says, the end could get weaker still from here and checking it right now, it's trading at

a hundred forty four point one nine against the dollar. Well, let's move to corporate news now, Nathan, where all eyes are on Apple. The tech giant is holding a launch event today to unveil the new iPhone fourteen. New iPhones traditionally kick off a busy fall products season, which also includes new max iPads and Apple Watch models. He then kicks off at one pm Wall Street Time, and we'll bring you live updates from Cooper Tino throughout the day

on Bloomberg Radio and television. And we've got more earnings on the way today, Karen popular Meme Stock game Stop is among companies out with results after the close. Bloomberg's Charlie Pellett has a preview. The analyst surveyed by Bloomberg see the video game retailer reporting on adjusted earnings per share loss of thirty four cents on revenue of one point to seven billion dollars. Analysts at Webb Bush say game Stop may trail consensus expectations, citing ongoing hardware constraints

for gaming consoles. Game Stop has been among the most popular retail trader favorites this year, but the stock for all of two is down thirty two percent. In New York, Chile, Pelic Bloom Bird pay break a right, Charlie, thanks well. It's shaping up to be another rough day in California. The state's electric grid will once again be tested after a narrowly avoided blackouts for two consecutive days. Blistering temperatures

pushed electricity demand to record levels Lady yesterday. That prompted California to enact its highest level of energy emergency, and much of the state remains under an excessive heat warning. It's like a look at oil now, Karen Crude is trading lower as the dollar surges, and concern over global demand is also weighing on sentiment. W t E s off to a week starts of the month, extending a run of three monthly losses. That's it's worst streak in

more than two years. Checking prices now, w t I is up six cents per cent, forty nine cents higher now at eighty seven dollars thirty seven cents of barrel. But we're also watching cryptocurrencies this morning, Nathan. Bitcoin flirting with a test of this year's lows following another sell off that's pushed the sector's overall market valuablelow one trillion dollars. The largest digital token has shed more than six percent

so far this week. Is surging real interest rates, cut into risk assets and checking Bitcoin right now, it's down about one pent is at eighteen thousand, seven eight dollars. Future is moving higher this morning, with SNP futures up almost seven point, staff futures of twenty eight, NASDAG futures up thirty Straight ahead, your latest local headlines, plus a check of sports, and this is Bloomberg. Thanks Karen. Six o seven On Wall Street. We're at sixty six degrees

in Central Park. Gotta crash eastbound twenty four at brute seventy eight in Springfield. Details coming up in traffic. First John Tucker with what else is going on in New York and around the world. Good morning, John, and former White House strategist Steve Bannon will surrender to face criminal charges in New York. Let's get more on the story. From Bloomberg's Jeff Bellinger. Sources tell Bloomberg that Bannon has been indicted and will be charged by the Manhattan District

Attorney's office. Manhattan prosecutors were working early last year with New York Attorney General Letitia James, new York's top law enforcement officer, to gather information for a pro been to weather bannoned defrauded contributors for that We Build the Wall. Bannon was charged with fraud and federal court in twenty over the alleged scheme, leading to a pardon hours before Donald Trump left the White House. But Trump could not

shield his former Raid from the state level probe. Jeff Bellinger, Bloomberg day Break, and we're hearing more surrounding the documents discovered of the former president's Florida state. The Washington Post reports and document APPII agencies at Mara Lago describes the foreign government's military defenses and nuclear capabilities. A development in the investigation into the alleged effort by some Trump supporters

to overturn the twenty twenty election results. In Georgia, Investigators say video shows a local Republican party leader allegedly allowing two men into the Coffee counties election offices the day after the January six insurrection. It's also the same day authorities say the offices voting machines were breached. The Biden administrations as COVID nineteen vaccines will largely become an annual

vaccination akin to the flu shot. Dr Chi's Jazz, the Coronavirus Response Coordinator, we the administration will make sure that vaccines are free, that they're widely available, and they are easy to access for everybody. The administration urging Americans to seek out newly authorized booster shots Taylor to find the omicron subvariants that are now dominant. About half of US workers could be described as quiet quitters. That's according to

new research by Gallop. It means they fulfill their job description but are psychologically detached from their work. According to Gallup survey of over fifteen thousand full and part time US workers, not a half of respondence met the definition of quiet quitting. More evidence the pandemic has vented employees, priorities, and companies workplace policies. Global News twenty four hours a

day on air and on Bloomberg Quicktake. We're powered by more than seven hundred journalists and analysm more than one twenty countries on John Tucker and this is Bloomberg, so you turned your volume up on that story. Thank you, John. Almost six ten on Wall Street Time for the Bloomberg Sports Update with John stash Our. Thanks they send so much for us to being the easy part of the Mets schedule. Back to back losses to lowly Washington and

an eight two lost last night in Pittsburgh. Mets have just their second three game losing Threek of the season. The other came back in June. Taiwan Walker gave a four runs and five innings. The Pirates put it away with four runs in the eighth inning. Brandon Neimo homeward for the Mets, who drop into a first place tie with red hot Atlanta. Mets and Pirates have a doubleheader today making up Monday's rain out, and Yankees and twins of a twin bill in the Bronx to make up

last night's rain out. Yanksters put Anthony Rizzo on their extremely crowded injured list. There are fifteen names on it. Rizzo has missed time with the bad back. Now he's suffering from migraine headaches. Now the late night at the US Open. This one ended at one am with Karen catch sean Off winning the fifth set from Nick Curios. Um but old credit to Karen. He just he's a fot, he's in. He's a warrior, you know, he's he's although

he saved really good today. Um, honestly, probably the best several play this tournament, to be honest, the way he

was hitting his spots under pressure. A lot of new names emerging at this year's Open, catch Shanoff will now play Norway's Casper Route, and unlike these semifinal women's winners, yesterday Ons Jabber, who was from Tunisia, and last night Caroline Garcia took out Coco got w NBA playoff wins for Connecticut headed in with decisive Game five of Chicago and Las Vegas has reached the finals, beating Sea at all the final game the long career of Long Island

native Sue Burg. Chicago Bears announced their intention to move to an indoor state, even the suburbs, although not until two thousand and thirty four. John Stash award Bloomberg's voice, Nathan, thank you, john S andp futures right now up four points stout futures up thirteen nan Stack future is higher by twenty five points, but European stocks continue their slide on a stronger dollar. We'll look at this market next

with Bloomberg's Danny Burger. This is Bloomberg, Bloomberg eleven three oh weather scattered showers, low seventies today, we'll clear out Tomorrow'll get into the upper seventies by Friday week with sunshine and a high. And you're eighty right now, cloudy sixty six degrees in Central Park. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com. The Bloomberg Business Outland at Bloomberg Quicktape is a Bloomberg

Business Flash, and I'm Karen Moscow. Stocks and commodities are dropping as the prospect of aggressive Federal Reserve monetary tightening lifts a dollar gauge to another record. Meanwhile, the US DON Index futures are a little change now. We checked the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, SMP futures or down futures, they're both little changed. Nowsday futures are higher, They're up a body et points

sets up almost two tenths of upper set. The decks in Germany's down seven tenths of upper cent. Ten year treasury up eight thirty seconds. You know, three point three one percent they yield on the two year three point

four six per set. Nine max Screwed oil is up half percent or forty four cents at eighty seven dollars thirty one center barrel comes gold is up two tens per cent or three dollars thirty cents, and seventeen sixteen ten announced the euro at point nine eight nine eight against the dollar, British found one point one four eight seven and again one forty four point to six. And looking at a bitcoin this morning down one percent at

eighteen thousand seven dty dollars. Today we are watching for the trade balance out at eight thirty Wall Street time that at two the Federal Reserve at least as its page book and as a Bloomberg business flash. Now, here's John Tucker with more on what's going on around the world. John and Karen. Former White House strategist Steve Bennon will surrender to face criminal charges in New York tomorrow. California

narrowly avoided Blackhouse for a second day. This comes to even as dangerous temperatures push the actricity demand to a record and she Shnpeg will meet his rush and counterpart Vladimir Putin next week. It would mark the Chinese leader's first trip abroad in two and a half years. Sports last night, Matts lose to the Pirates, the Red Sox lost to the Rays, Orioles beat the Blue Jays, and

Nasals lost to the Cardinals. The A's Field of the Braves Giants lost to the Dodgers, and the Yankees game against the Twins that was rained out to try to make that up. Today, Global News twenty four hours day on air and Bloomberg Quicktake where powered by more than twenty seven hundred journalists and analysts. It more than one twenty countries. I'm John Tucker. This is Bloomberg, Nathan Okay, John, Thanks six nineteen Now on Wall Street Life in the

Bloomberg Interactive Brokers Studios. This is a Bloomberg Daybreak. Let's take a look at this market A closer look with Danny Berger, Bloomberg television anchor and markets correspondent for Bloomberg News or the story this morning. Danny really does seem to be dollar strength, and we're watching it play out, particularly in European stocks. Yeah, I mean dollar strength almost literally against everything. I mean, whether you want to look

at the europound, Asian currencies. Asian currencies are doing so bad this morning. Um, And I think sort of the fall and stocks is just a reflection of of that type of environment where we're flowing into the haven of the dollar, where we're looking at a persistently tight said and one that's forcing other countries like the ECB tomorrow to titan as well. Along with this economic deterioration both in Europe which we've been talking about NonStop with the

energy crisis and negative data out from China. So you combined a weak economic data with persistent strength from central banks and you get the ugliness and dollar strength that we're seeing today. Yeah. I was just talking with the kid Jukes over at sock Jen last hour. He told me that he doesn't think we're gonna see much erosion to king dollar until there's some kind of resolution to the energy crisis in Europe. So maybe dollar strength this is going to be with us for a while yet. Yeah,

the fundamentals really are still there. Um. I mean, look, you could say, Okay, on evaluation level, this looks overstretched, But those sorts of things don't matter in times of crises. It can continue to go. I mean, what would the dollar deteriorate against. I'm looking at agen that's at one. It's unlikely there'll be any verbal intervention there because or

there has been verbal intervention that's been irrelevant. Maybe they'll have a unilateral intervention, but that probably won't do much either. They need something of a coordinated effect. So I'm having a hard time seeing you know what could beat out the dollar in this environment right now? Yeah, I'm looking at the offshore you want the Chinese currencyclorting with that psychological seven handle as well. It makes you wonder whether we could see some kind of intervention not just from

the People's Bank of China, but from the Bank of Japan. Yeah, certainly so. Bank of Japan. Last intervention, I believe was when we're at this level to four years ago. It was it was coordinated between the US and Japan, and that's probably what we would need to see for any change. Um. The question though, is how much longer can Japan afford

to let this go on to some degree? You know, a weaker currency does mean inflation is higher, and Japan is kind of rare in terms of a country that isn't dealing with outside inflation, So perhaps intervention might not come as soon as many people think when they look at the level. But yeah, China, the UN so close to seven um. It's clear that the PBOC is willing to let that weaken as much, but it just doesn't want to lose control, and I think that's clear by

the strong fixing we saw in it this morning. Now we've got central bank decisions from the e c V first, of course, we're waiting for the fed's decision later on this month as well. And I guess the question now is whether the tightening of financial conditions that we're starting to see is going to have any impact on whether we continue to see really strong jumbo sized rate high

central banks. Yeah, absolutely, because the type of environment it creates by really tight financial conditions or tightening in the US is what we're talking about. It's a weak currency. So you look at someone uh like the ECB for example, they're looking at a weak currency. For them, that means more inflation which they're trying to combat. And so what do you do you hike rates more, and that's what

the market is pricing in. We've got uh sixty five basis points is the implied rate at the moment, which means that there's a lot of folks betting on seventy five from the ECB. And you have this toxic mix where yes, this kind of chatter is sending yields higher. Usually that means a stronger currency, but this time it's not so. How much does the e c D need to hike to move rates higher to actually attract investors

into Europe to send the euro higher. I mean, I realize a lot of this is sort of like I feel like I'm talking in circles a bit, but but it is. It's just a fed and a dollar that's giving everyone a headache. Only about thirty seconds left here, Danny, But I'm really curious to hear what analysts are telling you about whether we could see the June low tested. I mean, we got this no doubt from Goldman Sachs this morning saying that the bottom might not have been

reached at this point. I gotta tell you, I'm just caring a lot of doom and gloom. Everyone's worried, not just about the economy, economy, but earnings as well at the second half of this year. Yeah, all right, thank you for this. Danny really appreciated. Danny Burger, our markets correspondent, Bloomberg television anchor with us this morning as we watch markets, UH continue to react to this strong dollar. Futures UH seeing a little bit attraction this morning to the upside.

Right now, SMP futures are up six points, STAU futures up thirty six. Nasdaq futures are highed by thirty one points. But European equities are still moving lower. We got the decks in Germany down about a half percent, Footsie in London down six tenths of one percent. Ten. Your treasury is up seven thirty seconds for a yield of three point three two percent. The yield on the two year

three point four six percent. Starting to see crude, UH get a bid with Nimex crude right now up six tents for cent to eighty seven dollars forty three cents of barrel. This is Bloomberg Bloomberg eleven three oh Weather. Scattered showers today with highs in the low seventies, clearing tomorrow upper seventies for Thursday highs. By Friday, we could hit eighty under sunshine. Right now, it's cloudy in sixty

six in Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio in New York, Bloomberg in voom Free to Washington, d C. Bloomberg on to Boston, Bloomberg one oh six one, does San Francisco, Bloomberg N sixteen to the country Sirius xm ch A one nineteen, 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 are just about three hours away from the open of us eating time for the five things so you need to know to start your day. Brought to you by Interactive Brokers. Interactive Brokers charges marchin loan rates from two point three percent to three point a three percent. Their clients can also earn extra income by lending their fully paired shares of stock or fully paid shares of stock. Rates subject to change.

Learn more at ibk R dot com. Slash compare for stungs in Europe are falling as the US dollar continues it's strong run. The Bloomberg Dollars Spot index hit another record overnight, and that's leading to tighter financial conditions that are weighing on risk assets around the world. Janet Moue has had a market analysis at Brewin Dolphin. There are increasing signs that countries are worried about the dollar strength.

I think government officials they will have to come together to discuss what they may do about it, but maybe they don't actually have a load of solutions. Janet Movie with Bruin Dolphins said the strong dollar could have a disinflationary effect on the US economy, but she still expects the Fed to raise interest rates in September's meeting, and we get more insight from the Fed today, Karen, with the release of the Beige Book. At two pm Wall

Street time. Tomorrow, we hear from the chairman J. Powell, he speaks at the Cato Institute's Monetary Conference. Tune into Bloomberg Radio and television for live coverage of that tomorrow around nine am Eastern. Well Nathan, the strong dollar wait on assets in Asia Overnight stocks held that lows from May of twenty Well, Asian currencies weekend Sharply, we're taking a close look at the yen, in particular, it's on

track for the worst year on record. That's prompting signals from government officials that Japan would need to take action if the rapid one sided move continue. Ruth Carson is an f extu reporter with Bloomberg News. At this stage, with the Bank of Japan clinging to his ultratavish monetary policy stands and FED hiking aggressively to five inflation, that's little stopping it from hitting levels last seen in the early Bloomberg You. Carson says, potential government intervention is on

trader's minds at the moment. And checking the yen right now it is at one four point four nine against the dollar. And turning into corporate news, Karen, all eyes are on Apple, the tech giant holds an event today to unveil the new iPhone fourteen. New iPhones traditionally kickoff a busy fall product season. The event kicks off one pm. Wall Street Time will bring you live updates from Cooper Tino throughout the day on Bloomberg Radio and Television. And

taking a look at oil now. Nathan concerns of our global demand as weight on sentiment, with crude off to a week start in September, and checking prices right now, and I'm ex screwed. Oil is ups extensive percent of fifty two cents at eighty seven dollars forty cents of barrel Brent is at ninety three dollars forty four cents. That's the five things that you need to notice start your day. Brought to you by Interactive Brokers. And this is Bloomberg, all right, Karen, thank you. Sixty three on

Wall Street, sixty six degrees in Central Park. We got two crashes on the eastbound Gwanas Expressway. Janelle Crispin will fill you in shortly. First John Tucker with what else is going on in New York and around the world. Good morning, John Nathan. Former White House strategist Steve Vannon, who was pardoned by Donald Trump on his last day as president, is going to surrender tomorrow to face state

criminal oranges. In New York Manhattan prosecutors have been probrabing whether Bannon defrauded contributors for We Build the Wall, that was the private center effort to support Trump's steen campaign promise to construct a wall along the US Mexico border. The president former president's pardon doesn't shield Bannon from state charges.

A threat by a major airline to sus suspend service at JFK more in this report from Bloomberg's Lisa Mateo, United Airlines is threatening to the spend service at Kennedy unless federal regulators review runway use and allow the carrier to increase daily operations. United told employees and a memo about its plan, saying the airport's total flight capacity hasn't changed since two thousand and eight, despite a widening of

runways and other infrastructure improvements. The airline, which has two daily flights between Los Angeles and JFK and to shuttling back and forth to San Francisco, that it would suspend operations at the end of October without more slots. Lisa Mateo, Bloomberg Daybreak. California narrowly avoided blackouts for a second successive day, even as blistering temperatures pushed electricity demand to a record and stretched the state's power grid close to its limits.

Here's California Governor Gavin Newsom. California and many other Western states are experiencing simply unprecedented temperatures. In fact, this heat wave is on track to be both the hottest and the longest on record for the state. In many parts of the West for the month of September A much of California remains under an extensive heat warning through Friday, with the thirties already preparing for more severe pressure on

the power system. Today, bosses are expecting workers to finally start showing up more routinely at Manhattan offices than have been sparsely populated for more than two years. Big banks, including Goldman, Sachs and Morgan Stanley have now removed the final hurdles for full time in person work and once again a reminding employees that they're wanted back in the office. The work from home culture has put New York's office

landlords in a bind. Just thirty five point three percent of workers in the Mets are area we're back at their desk the week ended August four, according to card swipe data from Castle Systems. Global News twenty four hours day on their hand a Bloomberg quicktake. We're powered by more than twenty seven hundred journalists and analysts and more than one hundred twenty countries I'm John Tucker. This is Bloomberg, Nathan. Thank you John six thirty six on Wall Street. John

Stash has the Bloomberg Sports Updak all right, Anthon. The Mets have been a first place team pretty much all season, but maybe not by the end of tonight. The Atlanta Braves one again, ten to nine in Oakland. They've won twenty six of their last thirty one and they are eighty five and fifty one, and that's the same record as the Mets who lost in Pittsburgh Gate two. Taiwan Walker gave up the first four runs, the bullpen four more, and the Mets have just their second three game losing

the speak of the season. They've got a double header in Pittsburgh today and the Yankees and Twins played two of the Brons to make up last night's rain out. Yankster banged up fifteen players on the injured list. Anthony Rizzo just went on with migraine headaches. DJ Lemayer has got a bad toe. Janklos Stanton just returned to the lineup and they had to leave Monday's game that injured foot x rays word nugget. Tampa Bay beat the Red Sox. The Red Hot Rays, only four and a half games

behind the Yanks. The crowd at the US Open last night came out to see the American teenager Coco Golf and then the entertaining Aunsee Nick Currios. They both lost their quarterfinal matches. Goffel the Caroline Garcia's straight sets, and Curios in a match that ended at one am, lost a five center to Russia's Rushia's Karen to catch on off Giants getting ready for Sunday season opener at Tennessee. The concerned for new Giants coach Brian day Ball Titans

running back Derrick Henry. What he's done so far. He's he's just a really good football player. I know him as a person to U have mettle down a few times in the Alabama. Got a ton of respect for him, and as a man, and and and surely as a player. He's uh, he's one heck of a player. You name it, he can do it. If the Giants get upset the Titans, they'll have an over five hundred record for first times to the two thousand sixteen. Jets open Sunday with Baltimore.

The season kicks off tomorrow. John starrwar Boomberg Sports, Stephen Okay, John, thank you, six thirty seven on Wall Street Time Now to take a look at stocks, some of the names moving in the pre market. We've got Bloomberg Radio and TV markets correspondent Pretty Gupta with us on a morning where dollar strength pervades the market. I mean, it's not just been this morning, has it, Cretty, It's been an issue for a while here, the strength of the US dollar.

It really has and this is going to hit you know, everything from from tap to multinational companies like PepsiCo for example. And that's kind of where I want to go with the sector check because I've been a really kind of piggyback on the point that Morgan Stanley's Mike Wilson made this idea that a lot of the macro was driving the trade right now as opposed to perhaps the individual fundamentals, and even on a such a micro basis like stock movers,

you're seeing that as well. The idea that the dollar is really the story as it hits once again a new record high, really driven by the weakness that you're seeing in Europe and arguably the weakness you're seeing in Asia as well. So let's take a look at some of these stocks here, because what's interesting is that the first companies that it should hit, that kind of move should hit are your big tech companies. Yet those are the ones that are actually catching a bid this morning.

Take a look at Netflix, for example, n f l X is your taker up about seven tenths of one percent, despite the fact that the broader market is actually declining. If you have the likes of Apple, for example, A A p L is your taker up three tents of

one percent. And the reason for this is this idea that simply you are starting to see fund flows come back into the state because perhaps that dollar strength isn't actually weighing on their bottom line the way that h IT did a couple of months ago, and simply that perhaps it's already priced it. So that's gonna be something that you want to watch going into the opening bells, Nathan, the trend has been in the opening bells in the

first thirty minutes. American traders tend to fade any move that you're seeing U in futures right now, so really keep an eye on that, and tech tends to lead that charge. I also want to throw some airline news at you Nathan, United, You A L is your taker that actually came out with a letter to JFK Airport yesterday and said, you know what, we are actually going to pull out of JFK if you don't give us more operating capacity, if you don't let us fly more

planes out. Remember, this really comes down to supply chain issues that you're seeing for a lot of the airlines traffic controllers. Means that airports can't actually have that many flights go out simply because the labor issues that are that people are dealing with here in the States. United saying well, you know what, figure it out or we're bouncing U. A L is your ticker up about three

times of a percent in this morning. I should say the shares are fading even though it's just barely traded, So that is going to be a stock you certainly want to keep an eye on. Yeah, interesting to see another news headline acrossing on that stock, in particular with United Airlines boosting its estimate for third quarter revenue growth just quickly createy, it looks like we could still be

seeing some of this pent up travel demand. You know, it's interesting that we say that because, on the one hand, there is that pent up travel demand, but the question is can you actually meet it, can you mobilize it and actually make money off in right now? The jury is still out, certainly, as thanks for this, Creaty, as always Mom Gradi on TV. Markets correspondent Createy Gupeda with us this morning as we take a look at future, they're moving just a bit higher than we are still

seeing European stocks move lower this morning. Right now, SMP futures up six points, staff futures up thirty five, NASTAC futures are higher by twenty six points ten. Your treasury yield right now three point three two on that stronger dollar. You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather scattered showers, low seventies today, clearing tomorrow. Upper seventies, will get up to near eighty in the sunshine on Friday.

Right now, clouds sixty six degrees in central Park. Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business A and at Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm camera in Moscow, US. Not Index futures on the rise this morning. We had the first word breaking news desk for today's morning call, and is Bell Maloney, Bell, good morning, and

good morning, Karen. Modest games in the U S futures right now with features up seventeen points, Sesames game three one, NASA futures are up by nineteen. The US ten year old at three point three two percent, Gold is a little changed, Oil is in the green, and a bitcoin is trading lower by one percent. Shanghai was a little changed overnight, while up and markets are posting modest losses this morning and back in the US on the economic Frinday thirty Trade balance, and at two o'clock, the FED

releases it's beige book. Indian news e q T to buy Marcellus gas and pipeline assets for five billion, and another news Goldman Sacks warns that stocks have yet to make it decisive low. Wrapping things up, Pinterest was raised to outperform over at Wolf Live from the first breaking news Tascam, Bill Maloney, Karen, all right, Bill, thank you to hear live breaking news of your Bloomberg type squawk on your terminal. I'll ascue you a w u K

and that's a Bloomberg Business Flash. Now here's John Tucker with more on what's going on around the world. John Karen, Steve Banna, and the one time Trump advisor. He expended to sir nder tomorrow to New York authorities that face state criminal charges. California avoided black acounts for a second successive day, even as blistering temperatures pushed electricity demand to a record. The Chinese leaders Shuxin peing planning his first

trip abroad in two and a half years. According to Tas, He's gonna meet with his Russian counterpart, Vladimir Putin in Azbekistan next week. Sports last night, the Mets lost to the Pirates, the rent Socks lost to the Raised, The Orioles beat the Blue Jays, the Nationals lost to the Cardinals, and the As filled to the Braves. The Giants lost to the Dodgers, and the Yankees game against the Twins that was rained out their schedule to make that up. Today.

Global News twenty four hours a day on airin on Bloomberg Quicktake. We're powered by more than hundred journalists and analysts in more than one hundred twenty countries. I'm John Tucker, and this is Bloomberg. Karen, all right, John, thank you at It sakes forty nine on Wall Street, and we turned to news and science and technology now at the

Bloomberg and j I. T. Stammer Report. It has brought to you by New Jersey Institute of Technology tech LIMB and j I. T. S. Ninth President has committed to strengthening and growing and j I T. S industry partnerships to improve student opportunities and outcomes. Learn more at n j I T dot e DU And here's just making news and Science, Technology, Engineering and math. The monkeypox vaccine used to curb the virus may be less potent than hoped.

Researchers in the Netherlands found the recommended series of shots yielded relatively low levels of monkeypox antibodies with poor capacity to neutralize the virus. Monkeypox has invected infected more than fifty people since a flare up of the diseases are reported in the UK in early May. Apple plans to appeal a move by Brazil to ban the sale of iPhones without battery chargers, arguing arguing that the company has helped reduce environmental waste by not including accessory with new devices.

Apple announced that it was stopped putting chargers a new iPhone boxes, drawing outcry from some consumers, and Samsung is warning that the semi connector industry could be in for a rocky close to two. A senior executive at the company said the outlook for the second half of the year is gloomy and Samsung is not yet seeing momentum for recovery next year. Rival chipmakers have warned up slowing demand to end the year. That's the Bloomberg and j

I t Stem report. Nathan, Thanks Karen. We're live from the Bloomberg Interactive Broker Studios where it's six fifty 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 former Trump adviser Steve Bennon said to surrender

tomorrow on new criminal charges in New York. Material on foreign nation's nuclear capabilities reportedly seized from the former president's home in marl Lago, President Biden talking breggsit with the new Prime Minister of the UK, and Republicans trying to jump start probes into Biden's COVID response. Let's get more now on some of these stories. Bloomberg. Government reporter Emily

Wilkins joins us from the Nation's capital. So what's this We're hearing about these new charges against Steve and Emily Yeah, so safe Bannon. The charges aren't knew, They've been going on for a while. This is all about at this private sector effort to support Trump's twenty sixteen campaign promised to build a wall along the US Mexico border. Uh, there was this campaign that Bannon was involved in called we Build the Wall, and there are concerns that Bannon

defrauded people who donated to the scheme. Uh that you know, this didn't actually go to where the funding said it was going to be going. There was actually a federal h but Bannon was charged in federal fraud court in over this, but Trump pardoned him before he left the White House. That, of course, however, does not cover state investigations, and New York Attorney a General Leticia James. James last

year was working to gather information into the probe. The latest on this is that Bannon is going to be surrendering on Thursday to face criminal charges in New York, according to Blue Reporting. Interesting to point out that the state charges can still be in play, even though there is a federal part and from the former president for Steve benn And it kind of brings more attention to the multiple investigations that former President Donald Trump continues to face.

Oh yes, and we got a huge news last night from the Washington Post saying that some of the documents that were found in Moral Lago detailed to foreign government's military defenses, including its nuclear capabilities. Again, Nathan, I mean, so one of the big stories right now is kind of what what was in these documents, what sort of information was there, and what was the risk that someone was going to see them who really did not have

the clearance to do so. And Nathan, few people do for things of this level of security, things that involved nuclear data. This is something that even some senior level officials don't wind up having access to. So this is a you know, obviously a developing story. Uh. There was also additional news yesterday that the courts were going to appoint a third party, that special master, to look over the documents that the FBI took out of Moral Lago.

Um And and I think there's just this huge, huge question of you know, exactly how much danger was there potentially for other folks outside those who had clearance, uh, to really learn about various capabilities nuclear military, how much

was used to US security really put at risk here? Yeah, it was interesting in that Washington Post report to see the reaction to this revelation from former President Trump's attorneys basically saying or criticizing the leak of this detail uh and raises a question about how much support the former president can continue to see among other Republicans who, you know, some have said, well, maybe the former president was keeping this material at moral Lago because he was working on

a memoir or something like that. Yeah, I mean, you know, it's very been very interesting to see the Republican Party continue to respond to the story. When the raid initially happened,

there was a lot of outrage. Now that we started to see a little bit more about the contents of what might have been in there, you've seen that criticism become more and more subdued, and I think there's a lot of weight and see does he get charged with anything, what does he get charged with to what is the extent of the issue, and how do you see that? I mean, at this point, Trump certainly still has his defenders in the Republican Party. He will probably continue to

do so for some time. But I think there's a lot of questions about what, if any charges are going to be coming and if that could make a difference. All right, let's turn to our current president, President Biden. He just had a call with the new leader of the UK, Prime Minister Liz Trust. Phillis in on that. Yeah, So Biden and Liz Trust they spoke yesterday. There's a little bit of tension between the two of them. Obviously Biden as a Democrat, Trust is more conservative. She went

from being anti Brexit to very very strong Brexit. UM. I mean, the two leaders did discuss UH, Northern Ireland, the Belfast Good Friday Agreement and the importance of of

reaching agreements with the EU on Northern Ireland UM. And so at this point there is kind of a hope that they are going to be having a good, key working relationship, but there's still lots of questions about how this might change discussions and negotiations with the between the UK and the EU over Northern Ireland UH, and how it's going to look like for the two of them going forward to continue to work on international issues. A cooperation on Ukraine, on China, on the Iran nuclear talks.

Obviously this is just their their first phone call um. So at this point, I think a lot remains to be seen exactly how this relationship is going to go forward.

But this is certainly a different a different ideology of politicians than than what Biden was working with with Boris Johnson that have been to left here and believe it, there's a really interesting story from your colleagues at Bloomberg Government about House Republicans not necessarily waiting until they maybe get control of Congress to investigate the Biden administration's response

to COVID. Yeah, this is such an interesting story, Nathan, because what had basically happened is that there's this unique little procedural tool that Congress has called this Resolution of Inquiry, which the minority party of Republicans can use to ask for documents and details from the Biden administration. Uh, this tool really wasn't able to be used earlier in the year. It was one of the things that were ended because when some COVID protocols went into place. But now it's

being brought back and Republicans are picking it up. They're asking for a number of data from the Biden administration, such as how many tests and vaccines were purchased, as well as documents related to the oversight of the Wuhan Institute of Virology laboratory, where there has been UH various stories seeing that the that that COVID could have come from there, although at this point there are also a lot of experts who say that that that's simply not

the case. But Republicans have been really trying to push and figure out kind of where the origins of COVID have come from. UH, and they've continued to have an interest in looking at the idea that it could have been created and allowed. Thanks for this as always, Bloomberg

Government reporter Emily Wilkins. You can read more on that story and all that's happening in the nation's capital Bloomberg dot com or on the Bloomberg terminal and Bloomberg and one or five point seven f m h D two is where to hear Bloomberg Radio in Washington, d C. Bloomberg Surveillance is next for Karen Moscow. I'm Nathan Hagar. This is Bloomberg