Bloomberg Daybreak: September 8, 2022 - Hour 2 (Radio)

the yen. New York lifts the state mass man date for public transit and yellow calms in the city appear on the Uber Ramp. I'm John Tucker, Those stories straight ahead. I'm John Stashour and sports the Mets and Yankees with doubleheaders swaves another late night at the US Open. They're

down to the final four. That's all trendy ahead on Bloomberg Day Break on Bloomberg Eliving Free on New York, Bloomberg one, Washington, d C, Bloomberg one, THO six one, Boston, Bloomberg nine sixties and Francisco syrius x M one nine Team and around the world on Bloomberg Radio dot com and via the Bloomberg Business app. Good Morning, I'm Nathan Higer and I'm Karen Moscow, US dot in next. Futures are little change this morning. We are coming up to six o one on Wall Street. I mean checked the

markets every fifteen minutes throughout the trading day. On Bloomberg again, futures are a little change. The decks in Germany is down about a tenth of uppercent ten year treasury up seven thirty seconds. You have three point to three percent and a yield on the two year three point four three percent. And I'm ex screwed. Oil is down half percent and eighty one dollar fifty three cents a barrel. Nathan, Karen.

We begin overseas this morning. The European Central Bank is getting ready for its first monetary policy meeting since July, and economists expect the ECB to deliver a rate hike as high as seventy five basis points Bloomberg. Stephen Carroll joins us with more from London. Good morning, Stephen, Good morning Nathan and Karen. Yes, fifty or seventy five basis points not seen as the choice on the table for

the ECB. Markets leaning towards a jumbo. If confirmed, it will be the first seventy five basis point increase for the bank since nine Back then, euro notes and coins weren't even in circulation. Policymakers want to get a grip on inflation that's running at a record nine point one percent. At to that rising fears of a recession A week you're out trading below parity with the dollar, adding to those woes as European countries pay more for imported oil

and gas that's priced in dollars. I'm Stephen Carroll, Bloomberg Daybreak, right, Stephen, thank you. Back here in the US will be watching comments from Federal Reserve chair j. Powell is scheduled to take part in a moderated discussion hosted a bout the Cato Institute this morning. Stick with us for live coverage of his remarks starting around nine am Wall Street Time

on Bloomberg Radio and television. Markets will be following those remarks closely here and After the release of the Fed's Beige Book yesterday, the Regional Survey indicated week prospects for economic expansion. Ryan Lamendez, advisor to the board of directors at the Currency Capital He says markets are pricing in interest rate hikes but may not be taking quantitative tiightening

into account. Aggressive CUTI is actually doing what they say they were going to do, which is reduced their balance sheets by forty seven billion dollars a month or double that, and they have not done so. So Yes, risky assets are not pricing this because the Fed has showed that it is not doing it, and maybe we'll not do it more aggressive. Given the geopolitics, this might create not

a hard landing but an actual crash. Ryan Lamand with SECURENCY capital, says investors should tread carefully as the FED reduces its balance sheet. Meantime, Nathan Goldman SAX is lifting its forecast for the pace of interest rate hikes. The bank now expects the Fed to hike by seventy five basis points this month and fifty basis points in November. The bank is also forecasting a twenty five basis point move in December. All right, let's turn to the market

action now beginning in Asia. Stocks in the region rebounded from two year lows. Overnight bonds climbed after Australia's central banks signal the potential and two big interest rate hike Sploomberg's Juliette Sally joins US with the details from Singapore. Good morning, Juliette, Good morning Nathan and car. The regional index rose around one percent, led by games in Japan

and Australia. All these stokes were bid along with bones after a b A. Governor Low indicated the case for slower monetary tightening is getting stronger as borrowing costs climbed. The AUSSI was the weakest G ten performer, and the off sho Uan remained under pressure despite the PBOC setting US stronger than expect could fix for a twelfth day in Singapore. Juliette Sally Bloomberg. Daybreak right, Julia, thank you all for keeping an eye on the yen this morning.

It had biggest swings overnight weaker and then stronger, now weaker again. There are a poor set. Officials in Japan are meeting for the first times in June to discuss the situation. Checking the yen right now it's at one forty three point eight seven against the dollar. Staying overseas carent. We have a big move in geopolitics. The US is

warning about Chinese threats to Taiwan. White House National Security Advisor Jake Sullivan says the US is working to alter policy toward the island in light of threats from Beijing. I think it remains a distinct threat that there could be a military contingency around Taiwan and UH. The People's Republic of China has actually stated his official policy that it is not taking the invasion of Taiwan off the table, that that remains one of the potential options for the

reunification of Taiwan. National Security Advisor Jake Sullivan spoke on the David Rubinstein Show Peer to Peer Conversations. Catch the program later this month on Bloomberg Television. It's coming up September twenty one at nine pm Eastern meantime. Nathan the US is also taking aim at China on the economic front. The White House is hosting the first gathering of Asian nations over an economic agreement that aims to counter Beijing's

rising influence in the region. It comes as Chinese President Sheijin Ping prepares to meet Russian President Vladimir Putin in person for the first time since Moscow invaded Ukraine. Bloomberg, Stephen Angle and Hong Kong states the agreement is unusually structured. It's a non traditional trade agreement that the United States and the Biden administration has come up with and has brought in a thirteen other countries in the Asia Pacific, and they're going to be meeting in Los Angeles in

the inaugural meeting. It's gonna be a couple of days. It's not really a traditional ft A free trade agreement. It is not like TPP, it's not really aimed at cutting tariff and Bloomberry Stephen Angles says. Critics of the agreement argue it's too vague and want more details. All the while, in China, care in the city of cheng Do is extending a week long lockdown in most areas after an increase in COVID cases. Chengg Do is home to twenty one million people. It's the biggest city to

shut since Shanghai's two months lockdown earlier this year. Authorities will continue mass testing and are pledging to eliminate community spread of the virus within a week. And finally, Nathan Let's talk, oil crudis some to an eight month low as investors assess global demand amid China lockdowns. At an economic slowdown, West Texas intermediate push back toward eighty three dollars a barrel after collapsing by almost six percent on Wednesday,

the biggest laws since mid July. Checking prices right now not next screwed oils down half per cent or forty cents at eighty one dollars, fifty cents of barrel. Brent is down four ten percent at eighty seven dollars six since. Futures again, well, they're starting to show some declines here. S and P futures down around three points now, futures down nineteen, NASA futures down eleven. Straight ahead your latest level headlines plus the check of sports, and this is Bloomberg, right, Karen,

thank you. Six o seven on Wall Street, sixty five degrees in Central park westbound l as jammed between the Grand Central park Ley and wood Haven Boulevard. Will tell you more in traffic shortly first, John Tucker's here with more on what else is going on in New York and around the world. John Nathan Governor Kafy Hoco has lifted the state's master requirement for public transit. It removes one of the last remaining government mandates of the pandemic.

We're watching global trends, We're watching for variance We're watching for any updates and vaccines, but we do believe that we're in a good place right now, especially if New Yorkers take advantage of this booster focal making the announcement before receiving the Omacronspacis think booster mass will still be mandatory in healthcare settings and at adult care facilities. Uber will begin rolling out yellow taxi rides in New York.

More in this report from bloombergs Jeff Bellinger, it's a long away to deffort to help these a driver shortage and pressure on fairs. The Big Apple's iconic yellow cabs have started to appear on the ride hailing platform for a randomized majority of active New York City riders, allowing them to book trips and taxis through the Uber app. Under an agreement, Uber customers can hail a taxi at the same price as an Uber X, and they'll see

the fair upfront before requesting a trip. Driver's earnings will initially be based on the City Taxi and Limousine Commission mandated rates, which are close to thirty two dollars an hour. Jeff Bellinger, Bloomberg day Break. Abortion remains legal in Michigan. After a judge permanently blocked enforcement of a ninety one year old band that could have become law. It followed the U. S. Supreme Court's decision to overturn Roll versus Wade. The band, which was opposed to a separate law super

Governagretchen Witmer, was on hold after a temporary ruling. President Biden will host a call with allies today about the next steps in support of Ukraine against Russian invasion and meantime, the Pentagon and send Ukraine it's most accurate artillery show the GPS guided Excalibur, a satellite guided weapon that can hit within seven ft of its target. The ex Caliber was first used in Iraq in two thousand and seven

in the high profile killing of an Alcada leader. In California's power grid once again didn't break despite being stretched to the limit as the punishing heatwave there continues to test the state's ability to keep the lights on. Today promises to be another ten standoff. We at demand forecast near a record high in the California Independent System Operator already declaring an emergency. Watch Global News twenty four hours

a day on irand on Bloomberg Quicktake. We're powered by more than seven hundred journalists and analysts in more than one countries on John Tucker and as bloom Nathan all Right, John, thanks coming up to six ten on Wall Street, John Staninshower's got the Bloomberg Sports Nathan Let's play two. Mets and Yankees both made up rainouts with doubleheaders, and both had swaves. Both had their aces on the mound for

the night kept provided them with plenty of offense. That's not normally the case when Jacob de Grand pitches, but de Gram and the Mets beat the Pirates, tending up in after the Mets took the opener five to one at the Stadium, Garrett Cole on the mound of the second game, he struck out fourteen. Yanks beat the Twins seven to one. Isaiah Connord for Leffer with a grand slam. The opener included yet another home run behind you know who that you won swinging on hit in there in

a deep Linton. That fall is high cut us far that up. God, It's amazing and I mean that absolutely. He's done it again. How does he do it? John Sterling w f A n SO now fifty five home runs for Aaron Judge the Yanks won five to four when they scored twice in the twelfth inning. Another incredibly late night slash early morning at the US Open. Forty eight hours after Carlos Alcarez one his fourth round matchup to three am, Alcarez was back finishing his quarterfinal victory

over Yannick Center at two fifty am. The match went five hours fifteen minutes. Alcarez faced a match point in the fourth set. He's into the semis to play. Francis Tiafo's doing things no American man has done since Andy Roddick. Tiafo first for the US to be a Grand Slam semifinalists its two thousand nine, first to do it at the Open since oh six, and Tiafa is the first African American Men's Open semifinalists since Arthur Ash fifty years ago.

They'll play the women's semifinals at Arthur Ash Stadium tonight. John stash Award Bloomberg Sports. Nathan thinks, John right now, S and P futures are moving, uh well, not really moving at all. They're little changed to the downside. Dal futures are up to Nastack futures are down two points so futures contracts pretty much. It will changed across the board ahead of an ECB decision. This is Bloomberg Bloomberg eleventh, three oh weather mostly sunny, high your eighty today will

be in the low eighties in the sunshine. Tomorrow Saturday sunny, low eighties. Will call it partly sunny in low eighties on Sunday. Right now sixty five in Central Park Markets, headlines and breaking news twenty four hours a day at

Bloomberg dot Com, the Bloomberg Business Outland. At Bloomberg Quick Tape, He's a Bloomberg Business flash and I'm Karen Moscow and European stocks and impairing early gains his investors brace for potential unprecedented monetary policy tening by the region's central Bank later today and new west Dock Index futures. They're little changed. We checked the markets every fifteen minutes throughout the trading day on Bloomberg again. Futures that will change this morning.

The DECKS in Germany is down about three tenths of upper sent CAC in Paris is up three towns of percent of the foot see one hundred up two tenths of a percent. Ten year Treasury up six thirty seconds. You have three point to four percent. The yield on the two year three point for three percent. Nine X screwed oils down half percent or forty three cents at eighty one dollars fifty one cents, and barrel comics gold up two tens percent or three dollars ten cents is

seventeen thirty ninety announced. The euro one point is zero zero zero two against the dollar British bound one point one four nine four and the yen one three point eight nine. And bitcoin this morning is down half percent in nineteen thousand, two hundred ninety dollars as a Bloomberg business flash. Now here's John Tucker with more on what's going on around the world. John you, good morning, Karen.

Police at Memphis have arrested a nineteen year old and if four people were killed three others wounded in a random shooting spree that was live streamed on Facebook. President Biden holding back on a decision to scrap at a trump erad tariffs on China imports, the pentagoncent Ukraine. It's

most accurate artillery shell. Sports Yankees beat the Twins in both games, so they're doublehead or the Men's also winners, beating the Pirates in both games of their doubleheader, as lose to the Braves, Giants lose to the Dodgers, the Red Sox lost to the Rays, the Orioles lost to the Blue Jays, the Nationals lost to the Cardinals, and

the NFL season kicks off tonight. Global News twenty four hours a day on Bloomberg and on Bloomberg Quicktake power by more than twenty seven hundred journalists and analysts and more than one hundred twenty countries. I'm John Soccer. These is Bloomberg. Nathan. All right, John, Thanks, We've got some breaking headlines just crossing the Bloomberg terminal. We've just learned Secretary of State Anthony B. Lincoln is in Kiev on

an unannounced visit. This comes just moments after the Secretary of State announced two billion dollars in new US military aid for Europe will continue following these breaking developments. Bring you more as we learn it right here on Bloomberg Radio. In the meantime, we are live from the Bloomberg Interactive Broker Studios, and you are listening to Bloomberg day Break

as we count down to an ECB decision. We're joined by Bloomberg opinion columnist Marcus Ashworth as we await eight fifteen Wall Street time for the policy rate decision from the central bankers in Europe. Marcus, good morning. It feels like deja vaux. We're thinking about whether it's going to be fifty basis points or seventy five basis points. Isn't that what we did with the FED just one or two ago. Yeah, and we're thinking about the same thing

the Bank of England as well. It seems to all the rage that's seventy five basis point to move the difference. It makes some sense in the concepts that you've got a very straw economy and you look, you know, the FEDS are a very clear mission and being reinforced by Jackson Hole. An address from from j. Powe which is I'm remittingly hawk ish. Um, so it's dragging the rest of the crowd along with it, and I think ec

being very careful. Um that merely going on with seventy five basis point right height, which is now become the

common accepted moved today. Only six out of twenty six or hour a minute is members of the government Council have sort of expressed the sort of hawkish view but for whatever reason, and we've learned to read these sort of smoke signals from the other press a little bit more seriously, as as clearly in July they were last minute decided on a fifty rather twenty five, and now it seems to be rather than a fifty, it's going to be a seventy five today. Well, you know, it

would be careful. The economy is is very weak. You know, Russia's shut down the North String pipeline and to do open heart surgery on the on the European economy after such a terrible time through the pandemic, it's never really recovered.

It is brave, very great. So is there a possibility then that we could see less than a seventy five basis point we have given, as you mentioned, the serious energy crisis that's facing the Eurozone and potentially the idea that the ECB might not necessarily have the tools to tackle that of inflation. Well, indeed, it's the this is exhaustists outside you know, energy inforsation was they've got no

real control over um. Well, obviously they're worrying about second round of effects and that's why the core rates up at four point three is is probably what's driving there the scares attitude to this. It's very much driven by Germany, which really has a pathological hatred of inflation. Nonetheless, the rest of the of the euroserve, particularly countries like Italy, you know, really struggling here UM and they're funding is

a question when it goes above four percent. The last time around this is when they ACB had an emergency meeting. We're not far away from that level now, so I'm not quite sure why the mood has changed suddenly they

think they can do seventy five from for sure. The chief Economists Philip Lane has intimated that he would much prefer fifty UM, and I think Regard has sort of hinted along the same mind as well, that the risk here is if if seventy five is forced on them, then they are perhaps having lost control and it's never a good look for a central ranks, so a tricky one. I hope fifty prevails just for the sanity. Doesn't mean

they can't be fifty again the next meeting. It's just I think shocking an economy which has had eight years of negative rates straight up with big semi five basis point heights out of zero where they currently are. It could be a little bit too much as particularly as there's other other factors in I want to get too excited about QT happening in Europe, but it's going to be on the agenda by the end of the year

for sure. And they're also they're gonna have to take my whole bunch of very very credible generous bank lending that they've they've done throughout the whole pandemic as well. So if they do all these things at once, it may be too much. Final companacial conditions might tighten to a credit crunch standard. Yeah, I want to focus on our last minute here, Marcus on the balance sheet, the look the access liquidity in the commercial banks and the

bond holdings in the ECB. Do you think we're going to get more clarity from President Leguard on the direction for the balance sheet and the ECB. Well, I think she's going to try and damp that straight down. So they have nine trillion balance sheet about five children, which is in quantitily easy. Different sets of it is UM, and I think there is talk possibly they may join UM all the Central banks by letting it passively, as in, when maturities come, let it roll off that way. But

I don't think that's this year's business. Let's certainly I think Legard will want to try and push that question away. She can, she will, I think regards of that the TELTRA that targeted along term refound refinancing operations, they need to probably right in that some of that findest minus will present a little bit too generous if you've got base rates now. But okay, up sade zero point seven five.

I'll be listening for those comments from President Leguard eight Wall Street time after the decision from the ECB that comes down at eight fifteen. Of course, we will have full coverage for you here on Bloomberg Radio. Bloomberg Opinion columnist Marcus Ashworth, thanks for joining us ahead of all that, really appreciate it. Looking ahead to the market open here on Wall Street, futures little changed, no change the SMP futures right now down futures and nasty futures both up

two points. You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather mostly sunny with a high. Your eighty today will be in the low eighties. Tomorrow, Saturday and Sunday. Nice weekend shaping up right now sixty in Central Park, Broadcasting live from the Bloomberg Interactive Broker Studio in New York.

Bloomberg E Living fre to Washington, d C, Bloomberg On to Boston, Bloomberg one O six one to San Francisco, Bloomberg nine sixty to the country Sirius XM Chad A one nine team, and around the globe the Bloomberg Business apt 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 aiding. Time for the fine

things that you need to notice. Start your day. Brought to you by Interactive Brokers, Interactive Brokers, Simple, i VK are Global Trader app, deposit in your local currency and trade stocks in the US, Europe and Asia. Start your free trial and ibkr dot com slash Global Trader at First. The European Central Bank is expected to raise interest rates at its first monetary policy meeting since July. Bloombergs Maria today O says it's still unclear if they'll hike seventy

five basis points or fifty. When you look at the seventy five basis points Camp, what they argue is there is a window now to hike, and you should do it quickly, decisively, and take swift action. This is now about the credibility of the institution. On the flip side, when you look at the fifty basis points at Camp here, what they argue is that you could find yourself in a situation where you're hiking aggressively at the same time your economy about to enter potentially a recession and facing

an energy crisis. Bloombergs Maria Today Oh says a central bank will definitely raise rates today. Back here in the US, Karen Fed Chair j Powell takes part in a moderated discussion hosted by the Cato Institute this morning. We'll bring it to you live around nine am Wall Street time on Bloomberg Radio and television. Overseas, Nathan, the US is warning about Shinese threats to Taiwan. National Security Adviser Jake Sullivan says he and congressional leaders are working to alter

policy toward the island. There are elements of that legislation with respect to how we can strengthen our security assistance for Taiwan that are quite effective and robust that will improve Taiwan security. There are other elements that give us some concern. National Security Advisor Jake Sullivan made the comments on the David Rubinstein Show Peer to Peer Conversations. Catch the program on Bloomberg Television September twenty one at nine

pm Eastern Time. Karen the wine House is hosting its first gathering of Asian nations over an economic agreement aimed encountering Beijing's rising influence in the region. Bloomberg Stephen Angle in Hong Kong says the agreement is not traditional. It's a non traditional trade agreement that the United States and the Biden administration has come up and has brought in a thirteen other countries in the Asia Pacific and they're going to be meeting in Los Angeles in the inaugural meeting.

It's gonna be a couple of days. It's not really a traditional ft A free trade agreement. It is not like TPP. It's not really aimed at cutting tariff. Bloomberg Stephen Engel says Critics think the practice too vague and want more details and the end had big swings overnight Nathan following reports that officials in Japan are meeting for the first time since June to discuss the situation. That's the five things that you need to know to start

your day. Brought to you by Interactive Brokers. Thanks Karen Sixe. On Wall Street sixty five degrees in Central Park, got an accident on the white Stone Expressway southbound. Ran to the Van Wick More coming up in traffic first John Tucker with more on what's happening in New York and around the world. John and Nathan's Secretary of State, Anthony Blincoln, has made an unannounced visit to Ukraine today. The trip is b Lincoln's third since the start of Russia's invasion

in February. Meantime, President Biden will hold a video call today with allies that talks will focus on the next steps to support Ukraine on the Pentagon has also sent to Ukraine it's most accurate artillery shell, the GPS Guided ex Caliber. According to budget documents, one of the last remaining government mandates of the pandemic has now been lifted. Let's goot more of this morning and this report from Bloomberg's Lisa Mateo, New York Governor Kathy Hukel has lifted

the state's mask requirement for public transit. It comes after months of confusion among commuters by varying national, state, and local rules and where face coverings are required. The governor says COVID numbers are stable, putting the state in a good place now effective immediately, Masks will no longer be required for mass transit, correctional facilities, and shelters. Mass mandates remain in effect at nursing homes as well as other

healthcare facilities regulated by the state. Mass compliance on New York City subways, buses, and commuter trains had waned over the past few months. Lisa Mateo, Bloomberg Daybreak. Another mass shoot in Memphis. Four people were killed three others injured in a shooting spree that held the city hostage for hours last night. Police say nineteen yearld Ezekiel Kelly drove around randomly shooting people while live streaming on Facebook. He

was taken into custody. CORP record show Kelly had a previous first degree murder charge, but pleaded down to aggravated assault, serving just eleven months. Memphis Mayor Jim Strickland was outraged and blamed a lenient judicial system because I'm tired of our police officers arresting the same people over and over and over, and those people committing violent acts. The shooting comes the same week Memphis police found the body of a missing teacher at lines of Flincher. The second suspect

wanted in the Stammic rampage in Canada has died. Miles Sanderson was taken into custody yesterday. Police say he went into medical distress shortly thereafter and died. Miles and his brother Damien, had been on the run in Saskatchewan since Sunday, accused of stabbing killed ten people at leapt ninety others injured. Damien was found dead in a field near the stabbing sites on Monday, Global News twenty four hours a day

on air, Anna Bloomberg Quick Take. We're powered by more than hundred journalists and analysts and more than one d twenty countries. I'm John Tucker. This is Bloomberg, Nathan John. Thank you. Cone up to six thirty six on Wall Street got John Stash are here at Bloomberg Sports update. All right, AI, when the Yankees are slumping and banged up, bring on the Minnesota Twins, the team the Yanks always dominating the Yanks with a doubleheader sweep. Go for a

four game series sweep tonight. That doing it with a lineup that had five guys who've spent most of the season in Scranton, and yet Yanks won a wild opener five to four. They scored twice in the twelfth inning as Waldo Carbrero the walk off, it ending in over twenty five slump earlier in Aaron Judge o'mbron his fifty five second Wilson Yankee history, moving past Mickey Mantel and

Alex Rodriguez and now trailing only Roger and Marrith. The nightcap had a grand stand Ford Isaiah kinder Felpon Aaron Hicks struggled so mightily with a three run double in the Yanks one seven to one. Mets also had a double letter sweep in Pittsburgh, first five to one and then ten to nothing, so they're a half game ahead of Atlanta. Max Scherzer put on the injured list eight

east Side. The Hope Busy misses only one start, no more than two so dawn of the final four at the US Open Women's semifinals tonight, no Americans left as Jess Cagoula lost last night to the top Seedgaciontech. There is an American semifinalist on the men's side, first time since Andy Roddick in two thousand and six. Francis Tiafa one again and tomorrow Tiafa will face Carlos Alcarez. He won his quarterfinal match with Yonic Center in five sets.

The match went five hours fifteen minutes. It ended at two fifty am. Alcarez had won his previous match at two twenty three am. Rams and Bills kicked off the NFL season tonight in l A. Jets made official Joe Flacco will be the starting quarterback Sunday AA's Baltimore. Zack Wilson not ready to return from his knee injury, pack he might miss the first three games. Tom Stash Allard Bloomberg Court All right, John, thank you the six thirty

seven on Wall Street. Time to take a look at stock some of the names moving in the pre market. If you're still bleary eyed from that early morning US Open match, you'll be glad to know Bloomberg Radio on TV markets correspondent Crety bright eyed, are gonna tell us what's happening under the hood in this little changed market before we get that ECB decision creating. Yeah, lucky for everyone. I did not say I have to watch the US

Open match. I think I missed a big one. We gotta keep an eye on game stop speaking of big things to watch here. It is soaring up about nine the pre market. It's coming off a partnership with guests this Nathan a cryptocurrency exchange f t X on the same day, by the way, that they did announce their earnings as well as let's talk about the earnings picture first, the gaming company reporting net sales for the second quarter

that did ultimately miss estimates. Analysts still skeptical, but it was that partnership with f t X, which of course we know has seen quite a bit of success in the crypto space, that's really boosting the shares here. Getting at some positive reviews on on it from the from the analysts base Off saying that while of Stoff has a passionate shareholder, base FTX could add to it. So that is some good news for GameStop despite the fact that you don't really have um a positive cattles for

GameStop when it comes to the earnings front. I should also mention that this is when it comes to the ft X partnership. This is really in the efforts to boost the n f T s uh. This is something that you're seeing a lot of gaming companies really look to do, and with this partnership, FTX gives game Stop um quite the boost. Well, you know, if AMC Entertainment can invest in a gold mine, why not have a crypto partnership with games Stop? What else you look in

at Cree, Well, it's look at American Eagle Outfitters. We know the retail story has continued across the sector, target, Walmart, Nords, from even Macy's. Well, American Eagle is no exception. They're down about fifteen percent in the pre market ward, down as much as sixteen percent earlier in the session. They reported results as well. Some of these earning stories still trickling in as you can tell, Nathan, but their reported results that city group and was described as quote rough.

They also pausitive quarterly cash dividend. Nathan. That is probably the worst thing you can do beyond not giving guidance and essentially just pausing that dividend at a time when a lot of companies, especially American Eagle, has actually been using that dividend to attract investors. It's something that you've seen in the financial space. Is something you've seen, argument in tech space as well, argument even in the oil space actually boosting their dividend. Retailers not so much. So

not so great news for American Eagle. A EO is your taker down about fifteen percent. I'm gonna end here. Nathan with Maderna Shares m r n A is your taker up one point seven percent in the pre market. It was higher about three percent earlier in the session, So some of those games getting paired. This comes after Deutsche Brank upgraded the stock to a buy from a hold after a solid second quarter earnings beat and welcome late July news of additional fall orders coming out of

the United States. So some good news on the vaccination front. Yeah, the healthcare space certainly doing well in this environment. Thanks for this, Creaty, good as always to have you with us. Spoonboard Radio TV Markets correspondent Credy Goofta looking ahead to the market open stocks as a whole little changed, waiting for the ECB to come down with its decision. Got SMP futures right now up a point, foul future is

up twenty two nastack futures up three points. Tend your treasury is up six thirty seconds the now three point to four, and you are listening to Bloomberg day Break Bloomberg eleven three oh weather turning mostly sunny with a hind your eight today. We'll get into the low eighties tomorrow with sunshine, sunny, low eighties for Saturday, calling it partly sunny, in low eighties for Sunday. Right now sixty

five 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. Future is that will change? This morning? We got to the first word breaking news dance for today's morning call, and here's Bill Malone Navy

A good morning and good morning Karen. Modest gains in the US futures right now down, futures up forty eight points, sup S Game five one NEZ that features her up by fifteen the US ten year at three point to four percent, gold is up, for oil is trading lower, and big coin is down by half a percent. Japan rose two point three percent overnight, while Europan markets are trading mixed this morning. And back in the US on

the economic front and a thirty initial jobless claims. After the Bellas Night game Stuff announced a partnership with cryptocurrency exchange f t X, and in other news, Goldman Sachs raised its forecast for heights to semi five basis points this month and fifty basis points in November. Wrapping things up, Moderna was raised by a DEEUTSJAMCA and over a Goldman Sacks. Canadian solo was cut to sell for Solar raised to buy.

Live from the First Breaking News Desk on Bill Maloney, Karen all right, Bill, thank you to hear live breaking news over her Bloomberg type squawk on your term and I'll ask you a w u K. That's a Bloomberg business flash. Now here's John Tucker with more on what's going on around the world. John and Karen. Secretary State Anthony B. Lincoln has made an un announced visit to Ukraine.

In the show support the Pentagon meantime has quietly sent Ukraine it's most accurate artillery show, and Memphis police say four our den after a teenager shooting spree that was streamed live on Facebook Sports. Yankees beat the Twins in both games of a double header. Matt's also winners, beating

the Pirates in both games of their double header. The A's lost to the Braves, Giants lost to the Dodgers, the Red Sox lost to the Rays, Orioles lose to the Blue Jays, and the Nationals lose to the Cardinals. And of course, the NFL season kicks off tonight with the Bills heading to Los Angeles to take on the

Super Bowl champion. Rams Global News twenty four hours a day on air and on Bloomberg Quicktake power by more than twenty seven hundred journalists and analysts in more than one d twenty countries on John Tucker and This is Bloomberg,

Karen Great, John, thank you. At six nine on Wall Street returned to news and science and Technology Now with the Bloomberg and j I. T. Stem Report, brought to you by New Jersey Institute of Technology Tech LIMB and J. I. T. S ninth President is committed to strengthening and growing n j I T S industry partnerships to improve student opportunities and outcomes. Learn more at n j I T DOT, E d U and Here's US Making News and Science, Technology, engineering,

and math. Depression, anxiety, worries about the pandemic, and other sources of distress prior to getting COVID nineteen they increase the chance of developing persistent long haul symptoms, according to a recent Harvard University study. To study found those who experience two or more types of distress before their infection had almost a fifty percent greater risk of self reported

impairment lasting four weeks or more. Providers of internet connected technology, from Apple, I phone software to baby monitors will have to meet new cyber security requirements in the EU or face fines and possibly have the product taken off the market, according to a draft proposal seen by Bloomberg, new rules called the Cyber Resilience Acts, said to become public next week, are aimed at improving the security of devices and In addition to the iPhone fourteen, Apple unveiled a new line

of smart watches that includes Ultra aimed at hikers, long distance runners, and serious athletes. The device has a larger screen, bigger battery, and adds body temperature tracking, crash detection and the new lower power mode and mess of Bloomberg and j I t Stem report Nathan, Thank you, Karen. We are live from the Bloomberg Interactive Broker Studios where it is almost six fifty one on Wall Street Time Now to check what's going on in d C, where some

of the top stories include some breaking news. As John mentioned, Secretary of State Anthony B. Lincoln has arrived in Kiev in an unannounced show of support for Ukraine. President Biden said to host a call this morning with allies on countering Russia, President delaying a decision on Trump era China tariffs,

and Republicans on defense. As the dream of a congressional red wave appears to fade, Let's bring back Bloomberg Government Congression reporter Jack Fitzpatrick for more on some of these stories, including when we're learning now, Jack, Secretary of State Blinkin is in Kiev. What are we hearing? Yeah, he he is there. It is his third trip to Ukraine since the beginning of the war. Another example of the Biden administration trying to uh somewhat frequently, UH show I guess

support for Ukraine. He didn't go uh with you know, a series of international negotiations or anything like that. There was some news right around the time he got there that the US is planning to provide another two billion dollars in UH in more military aid to Ukraine. Uh. It's not a change in US policy, but it's an example of the Biden administration trying to it seems, UH

somewhat frequently reiterate support for Ukraine. And of course you see that the timing with President Biden holding a video call with a group of a Group of seven and other European leaders to discuss Ukraine as well. Yeah, it's very interesting to see this sort of ramp up of attention on Ukraine as the war is now heading into its seventh month and into a winter where Europe the allies of the US UH could be facing a pretty significant energy crunch really sparked by the war. Yeah, that

is a key concern for the Biden administration. Uh. It's not something at least at this point, that has fundamentally changed the US is UH political outlook or or the US's stance on aid for Ukraine. Uh. You know, there's really a lot of bipartisan support for continuing to do whatever is possible uh to help Ukraine uh and not back down to Russia. But there's concern that in Europe, especially if we head into a cold winter, Uh, it's

hard to predict exactly how high energy prices will go. Um. That is the kind of thing that can undermine the political willpower behind international support for Ukraine. So it's not something that has shaken the foundations of support for Ukraine at this point, but it's a major concern from the U S's perspective as they try to rally as many countries as possible around Ukraine as possible heading into the winter, because that's the one of the factors that could undermine

political support and another geopolitical flash point. Jack, we're hearing President Biden. Uh, well, I guess we're continuing to hear that he's putting off a decision on what to do about tariffs on Chinese imports. Can give us the lightest on his thinking, Yeah, so it's it's not happening at this point. The decision is going to be bumped back. They haven't said exactly how long, but a couple of things on the calendar to keep in mind, Uh, that

that could create some political unpredictability. One, there's the Chinese Leadership Congress in October. It may be wise to push this decision back beyond that, and of course the US mid terms in November. Any decision that would come across as Biden being weak towards shijin Ping would be a very tough one for Democrats to campaign on heading towards the mid term. So it may be the case that this is a politically dicey situation to the extent that

the Biden administration wants to bump it back past that. Uh. They they have announced a review process that would allow businesses to seek some relief and and give input on which tariffs they think are costing jobs or competitiveness. But as far as the broader decision about a wholesale removal or scaling back of the Trump era tariffs, that appears to not be something that will happen very soon. Since you mentioned the mid terms, jack carry are exactly two

months away from election day in November. How are things shaping up right now? It is looking closer now than it was a couple of months ago. Uh, there have been some high profile UH speed bumps for Republicans. It's still an issue where you know, Republicans have a pretty clear advantage in the House races. UH. In a mid term like this, you would expect the minority party to pick up seats. They they only need to pick up a limited number. Democrats have a five seat advantage at

this point. The projections, you know, the latest from the Cook Political Report is Republicans could pick up ten to twenty. That would be less than you previously would have expected. UH. The Senate is UH, is is very tough to predict. There are some key Senate races where the polls lately have looked pretty good for Democrats. Democrats have a significant fundraising advantage in generally across the board and the major your competitive Senate races. UH. Mitch McConnell had acknowledged that

candidate quality was an issue. You've seen people like moment Oz in Pennsylvania, Blake Masters in Arizona struggle to raise

as much money as their opponents. UH. Some of the Trump backed primary winners on the Republican side have had I guess a slow start campaigning in the general election and not great polling news uh it is still something where you know, you would expect Republicans to likely win at least one of the two chambers, but it's the the expectations have come back down to earth on the Republican side. Thanks for this, Jack will continue following the

run up to the mid terms. Of course, Bloomberg Government Congressional reporter Jack Fitzpatrick joining us from our Bloomberg studios in the nation's capital. You can read more about all these stories on Bloomberg dot com or on the Bloomberg terminal, and if you're in Washington, you can listen to Bloomberg Radio on Bloomberg and one oh five point seven FM

HD two some red headlines crossing the Bloomberg Terminal. The UK's new Prime Minister, Liz Trust is unveiling her plan to help households and businesses deal with storing energy prices. UK is limiting the typical price of household energy to twenty undred pounds a year. Uh. Trust expects the plan to curb inflation by up to five percentage points in the UK, and she also says the UK and the Bank of England will help energy firms with liquidity needs.

All this out of an ECB decision. The futures are starting to point higher just a bit. SMP futures up five points right now. Down Future is up forty two. NASTAC features up fourteen points. Bloomberg surveillance is straight ahead for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg