Bloomberg Daybreak: September 9, 2022 - Hour 2 (Radio)

Special Master order. The Governor Murphy takes aim at Manhattan's congestion pricing plan. I'm John Tucker. Those stories straight ahead. I'm John Stage. Sports. A Yankee rally came up short against the Twins. The Bills beat the Rams to kick

off the NFL season. That's all's training ahead on Bloomberg Daybreak on Bloomberg eleven, Free on New York, Bloomberg one, Washington, d C, Bloomberg one six one, Boston, Bloomberg nine sixties, San Francisco, Syrius x M one nine team, and around the world on Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning, I'm Nathan Hagar and I'm Karen Moscow and US DOT Index futures are higher this morning. We are coming up to six oh one on Wall Street.

We checked the markets every fifteen minutes throughout the trading day. On Bloomberg, Guess and P future is up thirty one point this morning. Down futures have two D twenty four and nasday futures up one nine. Nathan Karen. Reaction is still pouring in after the death of Queen Elizabeth the Second, the UK's longest reigning monarch, passed away peacefully at Balmoral Castle in Scotland yesterday at the age of nineties six. Prime Minister Liz Trust was first to pay honor to

the life and work of the Queen. Queen Elizabeth the Second leaves a great legacy. Today the crown passes, as it has done for more than a thousand years, to our new Monarch, our new head of State, His Majesty King Charles the Third. Prime Ministers Trust called the Queen the rock on which modern Britain was built. Trust was appointed by the Queen just this week. Well, Nathan, Leaders across the world they're also paying their respects to the Queen.

Here in the US, President Joe Biden addressed the loss at a reception for the Democratic and National Committee in Maryland. By the opportunity to meet before she passed, and she was an incredibly gracious and decent woman. The thoughts and prayers of the American people are with the people of the United Kingdom and the Commonwealth and their grief. Hillary Clinton is also remembering her majesty. The former First Lady and Secretary of State says she was lucky enough to

meet her Majesty on several occasions. She was a curious, highly intelligent person who really wanted to learn what you knew and how it would fit into the world. And back in the UK, there's been a profound loss felt. In Scotland, First Minister and Nicolas Sturgeon describes the death of the Queen as a moment of acute loss and sadness. For more than seventy years, Queen Elizabeth has been the

great constant in our national life. She has inspired us on occasion, comfort he does and always personified values we hold dear and In Canada, Prime Minister Justin Trudeau delivered a poignant speech on the legacy of the Queen and her importance to him and his country in a complicated world. Her steady grace and resolve brought comfort and strength to us. All Canada is in mourning. She was one of my favorite people in the world and I will miss herself.

Prime Minister Justin Trudeau said he's in disbelief over her death and that Canada is in mourning caring. Outside of world leaders, we're hearing from people who had a close personal relationship with the Queen. We spoke with former advisor to the Queen, Mary McLeod, who says her majesty was an empowering role model. She will be remembered. I thing really as an as an inspiration, and I grew up thinking I could achieve anything. There was a female monarch,

our female prime minister. I mean it's really she has been there for for everyone throughout their lives and as her devotion, her life of service. A real selfless leader is how I think everyone is is remembering her. Mary McLeod is a former member of Parliament and adviser to Queen Elizabeth the Second. She spoke with Bloomberg Radio earlier this morning. Well, Nathan, the death of the Queen kicks

off ten days of mourning in the UK. We get the details on that from Bloomberg Daybreaking Europe anchor Caroline Hepger, who joins us from London. Good morning, Caroline, Good morning Karen and Nathan. We had all perhaps prepared ourselves for the death of the Queen, but when it came it was still a shock and a moment of grief. For many flags are now flying at half mast. Tributes from politicians at home and abroad for her long reign and

particularly her dedication to public service of being made. In the coming days. The Queen's body will return from Scotland to London. She will lie in state in Westminster Hall, in the heart of Parliament, where the public will be able to pay their own respects. We have no date yet, but the state funeral for the Queen will take place at Westminster Abbey, in the very place where Elizabeth Alexandra Mary Windsor married Prince Philip in ninety seven and where

she was crowned Queen in nineteen fifty three. Live in London. I'm Caroline Hpke Bloomberg Radio, Caroline Banks. There's also the future of the monarchy to consider at this moment. Charles the Third will soon be formally proclaimed King in a ceremony dating back hundreds of years. Bloomberg Daybreak. You're a banker, Stephen Carroll, also in London now with the details on that.

Good morning, Stephen, Good morning, Nathan and Kareny. Are the meeting of the Accession Council, as it's known, due to take place tomorrow with that former proclamation will take place. It's a group that includes members of the Privy Council, historically the sovereign's most trusted advisers. Also president will be officials in the City of London and from the Commonwealth. At seventy three, Charles is the oldest person who exceeds

the throne in British history. He'll now have to steer the monarchy in a country that's altered beyond recognition since his mother's succession in ninety two. Live in London. I'm Stephen Carroll, Bloomberg Daybreak. All right, Stephen, thank you, and King Charles now has big shoes to fill, taking over

from the longest reigning monarch in British history. To get perspective now from Anthony Gardner, former U S Ambassador to the European Union under President Obama, Well, I think he will try to respect the some of the recipe of what made her a success. It may be difficult because he is a person with the views and by the way,

I think he's underestimated. He said things and believe things well before they were widely believed or said I'm thinking of certainly the environment well before his time, well before his time. Former U S Ambassador Anthony Gardner was a guest on Bloomberg Sound on which Joe Matthew catched the

program weekdays at five pm Eastern on Bloomberg Radio. And looking to the market open on Wall Street this morning, Karen, futures are moving higher, SMP futures are up thirty points, staff futures up two D fifteen, NASDAC futures up one three points, and the tenure treasury is of fifteen thirty seconds, the yield three point to six percent. Straight ahead your

latest local headlines in the check of sports. This is Bloomberg at six oh seven on Wall Street where at sixty four degrees in Central Park, an accident investigation as the westbound l I E closed between its thirty six and thirty four More coming up in traffic. First, John Tucker with what else is going on in New York and around the world. Good morning John, Good morning Nathan. The Justice Department will appeal the Trump's special master order.

The story this morning from Bloomberg's Jeff Bellinger. The d o J filed the notice of appeal with the U. S. District Court in the Southern District of Florida. They are asking the higher court to reverse a federal judge's order for a special master to review documents the FBI s east from former President Donald Trump's Florida home. The Department says the ruling has impeded a review of the potential

national security impact. The Department also is seeking emergency approval to continue using the classified materials that were removed from our lago as part of its ongoing criminal investigation into whether Trump mishandled government records. In a decision roundly criticized by legal experts, US District Judge Eileen Cannon granted Trump's request for a so called special master and temporarily barred the government from using the documents to develop its criminal investigation.

Jeff Bellinger Bloomberg Daybreak is shipping it to be a border war of words. New Jersey Governor Phil Murphy says New York City's congestion pricing proposal can't be on the backs of New Jersey commuters. I'm gonna stand up and I will not relent on behalf of our our taxpayers. Interviewers Murphy's speaking of Bloomberg's balance of power with David West and New York City is moving to our Manhattan congestion pricing with a proposed toll of as much as

twenty three dollars for a white House. Strategists see that a vast a fight a New York case accusing him of defrauding thousands of contributors to a privately funded US Mexico border wall of more than fifteen million dollars ben and pleading not guilty to money laundering, fraud, and conspiracy charges and are walking into a Lower Manhattan courtroom and handcuffs.

He was released after turning over his passport. And the US has offered two point eight billion dollars in weapons and military finance in the Ukraine in its neighbors, as the Biden administration attempts to shore up Allied unity in the face of Russian threats to cut off fossil fuel exports and a looming energy crisis. Global news twenty four hours a day on Aeron on Bloomberg Quicktake. We're powered by more than twenty seven hundred journalist and analysts and

more than one twenty countries. I'm John Tucker and this is Bloomberg Nathan. Thanks John six o nine on Wall Street. Time for the Bloomberg Sports Update. Good morning, John Stoshop, Good morning Navan. Yankees began today place seen yet another key player on their very crowded injured list, d J. Le May, who has been struggling playing with a bad toe. So another makeshift lineup. Isaiah kinder Feliffa was the yankst

clean up hitter. Marwin Gonzalez bat at fifth. He got early two on homber from Miguel and do Are, but the Twins tie the game fifth inning, and then in the eight want to pitch a floodball on left field and deep packet goals, deep it goals and gone Carlos career. There's his signature moment. Biggest swing is a Twin go ahead eighth inning two run homer and the Twins take a four two league. I Ben at the call Yanks Dad a run of the eighth had the bases loaded

with the one out bottom of the night. They failed to score in Minnesota won for three to avoid getting sweat. Big Series starts tonight at the Stadium. Tampa Bay comes in having won fourteen and the last seventeen, the Raids of four and a half games behind the Yanks. Mets

start the weekend half game ahead of Atlanta. Mets tonight visit Miami and the MLB Competition Committee expected to vote today on significant rule changes for next season, the implementation of a pitch cloth and the element Asian of defensive shifts on jabber of Tunis Jaygo, Sian Tiko poland the semifinal winners at the US Open. They'll play tomorrow the championship. Now it's the men's semis, highlighted by the match tonight the American Francis Tiafo against the young Spaniard Carlos Alcarez.

Buffalo Bill's nearly amazed in the Super Bowl last season, the favorite of many to get there this year, they opened up in l A a thirty one to ten rout of the defending Super Bowl champion Rams Josh Allen from nearly three hundred yard three touchdowns while Matthew Stafford was intercepted three times. The Rangers have hired their long time star goalie Henrik Lunkwist for a mostly business position.

John Stashward, Bloomberg Sports Nathan, thanks for that, John S and p Futures Right now we're up twenty eight points. Stow Futures up two hundred eight Nastac Futures are hired by one eighteen points. The tenure treasury is up fifteen thirty seconds. The yield three point to six percent yield on the two year three point four or six percent. Nimex Screwed is hired by one and a half percent.

Eighty four dollars seventy eight cents se barrel British pound one point one six two zero against the U. S. Dollar. You're listening to Bloomberg Daybreak. Bloomberg Daybreak is brought to you by the Jewish Communal Fund j c F. S donor advised fund is the smart choice to manage your philanthropy, especially in times of crisis. Make your giving impactful. Visit j c F n y dot org. Markets headlines and breaking news twenty four hours a day at Bloomberg dot com,

The Bloomberg Business Outland at Bloomberg quick tape. This is a Bloomberg Business flash and good morning. I'm Karen. Moscow futures are higher, with SNP futures up twenty nine points, doll futures up two hundred nine NASDAG futures have one and a ten year treasury up thirteen thirty seconds held three point to six percent, yield on the two year three point four seven percent. And as a Bloomberg business flash, now here's John Tucker with Moore on what's going on

around the world. John, good morning, and Karen Charles. The elders of Queen Elizabeth's four children will be formally proclaimed King of England in a ceremony tomorrow. Here in the US, the Justice Department will appeal of federal judge's order for a special Master and the Trump Documents case. Sports NFL season kicked off last night, the Bills beating the reigning champion of Los Angeles Rams one to ten. Yankees fell

to the Twins four to three. The Nationals whatever the Cardinals, the Reds beat the Cubs, Marlin's beat the Phillies, the White Sox won big over the A's, and the Brewers swamp the Giants in a double header. Global news twenty four hours a day on aeron a Bloomberg Quick Take power, more than hundred journalists and analysts and more than one twenty countries. I'm John Tucker. This is Bloomberg Nathan. Okay, John, thank you. It is six eighteen on Wall Street Live

from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. Good morning. I'm Nathan Hagar. Let's get more perspective now on the life and legacy of Queen Elizabeth the Second. We've been speaking with experts, historians, and those who knew the queen personally. Bloomberg Daybreak, you're a bankers. Caroline Hecker and Stephen Carroll have been leading our coverage and we handed back over to them now for a discussion with

the former Press secretary to the Queen. Joining us now is Charles Anson, who is communications consultant and also the former Press secretary to the Queen. Charles, thank you so much for giving us your views and some of your time this morning. It is a very sad and hugely historic moment for the people of Britain and I just first like your view on how you think this incredible

queen is going to be remembered. I think the Queen with her very long wain, a long expen history of the British monarch over a thousand years seven two years has been over spanned a huge change within this country, within the world, and what Queen has contributed has been a steadiness, whether in good times, in times of joy,

or in times of turbulence. It's still a small figure of the queen of the monarchy and a change in society has been a reassuring thing for a lot of people, and I think that's one of her great contributions, is to provide that continuity and time and great change. You had a close relationship with the Queen during the time that you worked with her. What are your personal memories

of her? Well? I remember how the Queen very much as someone who is practical by nature, straightforward and easy to deal with, and she had an extraordinary humility in the way that she approached life and approached problems and their solution, and that sort of humility and simple approach is what I think has endeared it as so many

ordinary people around the world. She is a human being who can appreciate and someone who through her commitments of the coronation, and her religious faith and her sense of duty inherited and trained by her father, George the Sex and her mother Queens with the Queen Mother someone who really quite instinctively looked to try and make a better

world in a non political way. And I think people really appreciated that over the year, as particularly over the last twenty years and in the last few years occurred when her voice and studies have been a very reassuring element, not only to the people of Britain, but two people are under Commonwealth and indeed or under the world. I think her voice is comfortent to many people, and wisdom and kindness and settled values is something that people greatly

admire in anything, especially in a mono. And this monarch, of course, famously never did interviews. She spoke to the nation on Christmas Day every year. She met so many thousands of people at the events that she attended, and she was a major fourth for British diplomacy, for Brand Britain right up until the very modern appearances with James Bond with the animated Paddington Bear clip that she did for the for the platinum Do you believe just talked

to us about how critical she was for global Britain. Well, I think the first thing to say is the reason that the British monarchy has survived and prospered over a thousand years, with difficult times and good times as well. The reason it's survived is that it has been able to adapt, and none moreso than in these last seventy

years have changed since the Second World War. And what the Queen has brought is a sort of steady modernizing approach to the monarchy whilst remaining herself the same character as she was when she stood and melt in Westminster, add her coronation, and I think that combination of appearing to be the same whilst being open to new ideas and new ways of doing things has sad the monarchy very well and reflects that the society in the country

that we now live in. And I think the process and embracing change in a very quiet sort of way has been very effective, and of course it has been admired by other great political figures around the world. Now's Mandela Barack Obama. Virtually every American president has valued the Queen's and take on things. Her experience is enormous and she's used it and projected Britain in a way that has been touching to many people. Given that legacy and influence of the Queen, what sort of king do you

think that Charles will be? Well, I think each monarch brings his own his or her own style and some beliefs of the road, but essentially the cool um uh value of the monarchy is to remain politically neutral above the politicial prey and to work for society and the

nation as a whole. And I think the aim very much of the Prince of Wales, King Charles the Third and of his mother, Queen Elizabeth, was to try to make a better world, one that was more tolerant, one that was more stable and steady, and one that was able to do with adversity as well as with triumph.

In our thanks to Bloomberg Daybreak eure of bankers Caroline Hecker and Stephen Carroll for that conversation with Charles Anson, communications consultant and former press secretary to Queen Elizabeth the Second, we just got this headline crossing the Bloomberg terminal. King Charles the Third has left Balmoral Castle in Scotland. He has headed to London today, where he's expected to meet with Prime Minister Trust and deliver his first speech to

the nation as King. Stay with us for continuing coverage. This is Bloomberg Bloomberg eleven three oh weather mostly sunny today in New York, has near eighty degrees, increasing afternoon clouds Tomorrow low eighties with hazy sky, so it will be probably the most of the cloudy Sunday, low eighties. Right now sixty four in Central Park. Broadcasting live from

the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg sixteen to the country, Sirius XM to one and around the globe the Bloomberg Business apt in Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's 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 trading.

Time to the five things that you need to notice start your day. Brought to you by Interactive Brokers. Interactive Brokers Global Analysts helps you find a global investment opportunities to diversify your portfolio and discover undervalued companies that may have greater growth potential. Try ibk our Global Analysts today at ib k r dot com slash g A. Reactions

still pouring into the death of Queen Elizabeth. This second Britain's the longest reigning monarch, passed away peacefully at Balmorl Council in Scotland yesterday at the age of ninety six. Prime Minister List Trust was the first to pay honor to the life and work of the Queen. With the passing of the Second Elizabethan Age, we are show in a new era in the magnificent history of our great country, exactly as her Majesty would have wished, by saying the

words God Save the King. Prime Minister List Trust called the Queen the rock on which modern Britain was built. King Charles now ascends to the throne, a process that will be formalized in a ceremony tomorrow. Karen the Queen is being honored by world leaders and public figures far and wide. She's remembered fondly for her poise and grace. We spoke with former U s Ambassador Anthony Gardner about

the Queen's legacy. She was respectful the limits of her office, but she understood also that she could exercise significant influence by being, as symboled by being a steady hand at moments that were pretty turbulent, a model of public service. And I think you know that that resonates especially today. Queen Elizabeth's reign spanned fifteen prime ministers. She marked seventy years on the throne just this year. Well, Nathan, now King Charles the Third ascents at the top of the monarchy.

The formal proclamation comes in a ceremony tomorrow. Jonathan Spengler is a Royal historian and senior lecturer at Manchester Metropolitan University. It will be very interesting over the next couple of months to see how much King Charles the Third wants to change things. But I have to say that a lot of the changes I think have already been made.

The slimming down of those who actually work and are paid to work in the British country and around around the world has been significantly reduced, and the amount of ceremonial that the family doesnt states day activities has also quite significantly been reduced. Jonathan Spangler is a Royal historian and senior lecturer at Manchester Metropolitan University. Stay tuned for more of that conversation coming up shortly on Bloomberg Daybreak. That's the fine things that you need to know about

the Queen to start your day. Brought to you by Interactive Brokers. Thanks hearing at sixty three on Wall Street where it's sixty four degrees in Central Park and traffics getting heavy on the north shore of Long Island with the l I E closed westbound in Rosalind Heights. Details come up in traffic. First John Tucker with what else is going on in New York and around the world. Good morning, John and Nathan Awarding from New Jersey to New York stock plans for congestion pricing the story from

Bloomberg's Lisa Matteo. New Jersey Governor Phil Murphy tells Bloomberg New York City's congestion pricing proposal would be a huge burden on commuters. Not that against fit, against against pollution. We're all for that, but it can't be taken out of the backs of New Jersey commuter. Murphy was on Bloomberg's Balance of Power with David Weston Manhattan congestion traffic pricing would have a proposed per car toll of as

much as twenty three dollars. People driving from New Jersey paytrolls at three river crossings, and Murphy has said he would block any attempt to charge them. Twice. Lisa Matteo Bloomberg Daybreak, President Biden taking a McDonald Trump for promising to pardon rioters who attacked the Capitol, and Warren voters against putting Trump's followers in charge of the House or

Senate in November's elections. Those who love this country, Democrats, independence, and mainstream Republicans have to be stronger, more determined, more committed to saving American democracy than the magat Republicans are to literally just in American Park, he spent bunch of an address at the National Harbor Resort assailing the former presidents have those who continue to back him after the insurrection.

The Justice Department will appeal a federal judge's order for a special master to review documents the FBI c s from former President Donald Trump's Florida home. They say the ruling has thwarted a review of the potential national security impact. The Department also seeking emergency approval to continue using the classified materials that were removed from Mara Lago as part of its ongoing criminal investigation into whether Trump or anyone

else seemed properly mishandled government records. And Kim Jong oong has expanded the circumstances under which North Korea would launch a nuclear strike, further raising the stakes for any military confrontration with the U S and its allies. North Korea laid out the new nuclear doctrine in a law approved by that country's Supreme People's Congress. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven LUSON analysts. It more than

one d twenty countries. I'm John Tucker. This is Bloomberg, Nathan. Thank you, John. Six thirty five on Wall Street. Let's get the Bloomberg Sports update once again with John Stash. All right, Nathan, Yankees for going for a four game swinge for the Twins. They took an early leading Miguel and do our two run over Minnesota win, ahead on Carlos Careas two run shot on the eighth. The Yanks got closer, but they left the tying run at third base in both the eighth and ninth innings. Minnesota with

a rare win over the Yanks four to three. The Yankee lead over Tampa Bay is four and a half. They host the Red Hot Rays tonight mets her in Miami. The US Open. Easy semifinal win for Ans Jabir of Tunisia. She didn't just over an hour and we'll face top seeded Igaciontech and tomorrow's women's finals. Sante lost the first set with Arena save Nanca. She was down a break

in the third before rallying to win. Francis Tiapo on Center State tonight at Arthur ash stating the first American and a Grand Slam Men's semifinals and two thousand nine they'll take on Carlos elker as in Tiafa. Will have a home quarter advantage of playing front of that crowd. Um like you know, that's why you're trying hard, and um Hill the role you can do um from and go to it. And I just love playing front of fact people. I love you know I can do first

Man Sammy this afternoon and Casper Route of Norway. You went against Karen Kachanov. When you win the Super Bowl you get to host the first game of the following season. So the Rams back at the same stadium in l A where they want up in Buffalo dominated the second half, won the season open a thirty one to ten, a game with seven turnovers. Josh Allen put for nearly three

hundred yards three touchdowns. He ran for fifty six more with another score w NBA Playoffs that Connecticut Sun finished the game on eight teen nothing run who won the decisive game five with defending champs Chicago and will now play Las Vegas for the title. John Stashward, Bloomberg Sports, Nathan, Okay, John, thank you. It is sixty seven on Wall Street. As we continue our special coverage of the life and enduring legacy of the late Queen Elizabeth the Second, we want

to turn our attention back to the market. Take a look at some of the individual names moving in early trading. Bloomberg Radio and TV Markets correspondent Pretty Gupta is with us this morning. Pretty, where do you want to start? You know, Nathan, it's a hard day to pick some stock movers um just just given the news, I'm gonna give it a world here you are seeing futures higher

to the tune about nine tenths of one percent. So when you see a stock beat that kind of rally, even in the pre market, it's going to be pretty significant. Docu Science, what I have my eye on d O c U is your takers shares are about seventeen percent in the pre market. Soaring on some earnings results is really all about the billings here. They are actually coming out and saying that their billings forecasts are going to

be higher for the full year. Remember we're looking at a time where any forecasts, any guidance that's actually positive going into the year end uh and into next year is going to be a good sign. Analyst specifically saying the results showed some improvement for the company that you know has seen a shares really collapse. Remember Docus as

part of the pandemic trade. Essentially all those kind of company is like Zoom, like Peloton that basically had a round trip in their share price through twenty through one. That being said, the standard, it feels like disclaimer for a lot of these companies is that they are cautious about a worsening macro environment, and Docu Signed is no exception um really saying, you know, be careful about what

those macro risks can bring. Yeah, we're really seeing tech shares once again lead the way this morning, and really seeing a surge in bitcoin as well. We are, and it kind of rallies in and and has a ripple effect and some of those bitcoin miners and other crypto exposed dox Marathon Digital is one example. M A r A is your taker up about eleven percent in the

pre market, and this is significant. We have Bitcoin up about and we'll just shrive eight percent this morning, So this is going to be significant when we talk about simply the amount of of ways to play crypto right now through the stock market. And of course remember a lot of these companies, the minor specifically have actified moves coming out of bitcoin and bitcoin right now looking into

two standard deviation move. So you can also almost expect that a reaction in the stock, especially at the market open, is likely to be um even bigger than that which is which is certainly something worth noting. Nathan, I want to take my last thirty seconds here and give you z Scaler because this is a really important company when it comes to application software through cybersecurity as as well. We know this has been a major theme for a

lot of companies. Switching to cloud and switching to UM just kind of ramp up the security in their systems, especially after the war. Ukraine really began z S as your taker here, up about thirteen percent. They also reported earnings yesterday beat expectations. Give an outlook that's very strong, analysts specifically pointing out the billing story that's really where they want a lot of favor and and showing up

in the stock market this morning. Thanks for this creaty good having you on with a Sploomberg Radio and TV markets correspondent, creating grouped as we take a look at the market ahead of the open on this Friday morning, Uh, we're seeing risk on really it's SMP futures up by thirty six points right now. Down Future is up tune at fifty eight points. NASTACK futures up hundred forty one points dollar week or this morning, the Bloomberg dollars spott

indext is down nine tenths of one per cent. You're listening to Bloomberg Daybreak Bloomberg eleven three oh Weather mostly sunny, a higher eighty degrees today morning, sunshine tomorrow, but clouds will increase tomorrow afternoon hazy skies low eighties, partly the mostly cloudy Sunday low eighties, sixty four degrees. Right now, 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 futures higher this morning. We get to the first Word breaking news desk for today's morning call, and here's Bill Maloney. Bill good morening, and good morning, Karen. That's right. US futures with a bid right now without futures up two hundred and seventy five point says he's gained thirty nine will Nasdaq features are up by a hundred and

fifty seven. The US ten year at three point to six percent, Gold is up eighteen Oil trading higher, and bitcoin is up a whopping eight point eight percent. Hong Kong Ro's two point seven percent overnight, while e UPM markets are also in the green this morning and back in the US on the economic front. At ten o'clock, hostale inventories after the LS night DOCU sign boosted. It's

bysically your subscription revenue forecast. Shares are up seventeen percent in the pre market and regarding earnings this morning, look for Kroger to report in the pre market and other news. No More is the latest bank to boost its forecast for the FED, hiking rates and wrapping things up. Regeneral and was raised to hold over at Jeffrey's. American Water

was raised to neutral over at JP. Morgan Live from the First Breaking News descom Bill Maloney Careen, all right, Bill, thank you to hear live breaking news over your Bloomberg tip smalk on your terminal SCU. You a w K and that's a Bloomberg business flash. Now here's John Talk here with more on what's going on around the world. John and Karen Charles, the eldest of Queen Elizabeth's sports children, will be formally proclaimed King of England in a ceremony tomorrow.

He becomes the oldest person to ascend to the throne in the UK. Here in the US, the Justice Department's gonna appeal with fellow judge's order for a special Master in the Trump Documents case. The d o J says the ruling thwarts or review of the potential national security impact and California faces the dual threat of blackouts from an overwhelmed grid as well as from the risk of

wildfires as the punishing heatwave continues. Sports. The NFL season kicked off last night with the Buffalo Bills beating the reigning champion Los Angeles Rams thirty one to ten Yankees field of the Twins forty three. The Nationals won over the Cardinals, Reds beat the Cobs, the Marlins beat the Phillies, White Sox one big over the A's, and the Brewers

swept the Giants in a doubleheader. Global News twenty four hours a day on air and on blueber Quicktake Power by more dred journalists and analysts in more than one twenty countries of John Tucker. This is Bloomberg. Karen, all right, John, thank you. It is sixty nine on Wall Street, and we turn to news and science and technology now with a Bloomberg n j I T Stammer Report. It is brought to you by on New Jersey Institute of Technology.

It's New Jersey Institute of Technology tech LIMB and j I T S nine 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. PayPal might have a new rival when it comes to making quick online purchases. London based fin tech company Revolute is launching a new one click payment app and have already signed up some

major retailers to use the service, including Shopify. Revolute will also allow consumers to earn cash back on purchases. The US is hoping to help get rid of some space junk. F SEC regulators are looking to create new guidelines that would require space operators to bring satellites, discarded rocket corps, and other space debris out of orbit within five years of them ending service. The goal is to eliminate debris

to make future space missions easier to navigate. And BMW wants to buy electric vehicle batteries from six new factories. The world's biggest luxury carmaker is revamping its supply chain. Europe, China, and North America will get two plants each producing lithium ion cells that would last longer, charge faster, and cost less. And that's a Bloomberg and j I T STEM report Nathan,

Thank you, Karen. We are live from the Bloomberg Interactive Broker studios, where it's coming up to six 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 tributes to Queen Elizabeth the Second pouring in from the White House to Capitol Hill, President Biden rallying Democrats with a tax on former President Trump and his supporters, and the Justice Department appealing the special Master review at

maral Lago. For more, we're joined from our Bloomberg enty nine one studios in the Nation's capital by Bloomberg Government reporter Emily Wilkins. Emily, it's really difficult to sort of encapsulate the amazing impact that Queen Elizabeth the Second had, not just on her own country, but here in the US. I mean, you think about it. She knew nearly one in four presidents. It's amazing. It really is incredible, Nathan. I mean, just the longevity of her tenure, what she

stood for, what she represented. I mean, as you mentioned, you know, she's met most of the U s sitting presidents, a really high percentage for just one person. Uh, she's uh set there were fourteen US presidents that were sitting while she was on the throne. She met with thirteen of them. She had some sort of correspondence in relationship with all of them. You saw tributes not only from current President Joe Biden, but also past presidents including Donald Trump,

Barack Obama. Certainly this is something that that's very much cross party lines in terms of morning her passing. And you saw President Joe Biden make a stop last night at the British Embassy, UH, signing a book there, um, you know, giving his condolences UH to the Queen. And he began a speech last night, his first public appearance since her passing, UM, by calling the Queen an incredibly gracious and decent woman. Of course, he he shifted into

politics pretty quickly after that. UM. But the flags are at half massed at the Capitol and the White House, UM, and we expect to be seen continued tributes from utap US officials. And you think back to all the times that the Queen visited this country and the nation's capital as well. I'm sure Emily a lot of members of Congress are giving their own tributes as well. Yes, I remember the Queen did address a joint meeting of Congress.

That's not something that's incredibly common to happen. Uh, Congress really doesn't get together in a joint session except for really really major speeches. Um, and you know she did. She went across US the country. She's visited multiple parts of the U s she was I think it was former President George W. Bush who took her to h to a baseball game with the Orioles and the Oakland A's. So certainly, you know, she had that relationship with folks

in the US. And and certainly there are many touching tributes that are now pouring in, not just from American officials, but also stories from just regular folks who who crossed paths with her at one point orre inspired by her. I know it's early yet. I mean, we're still trying to figure out the details of just how the the ceremonies and remembrances are going to happen in the UK. But are we getting in the indication of how the US plans to take part in what's going to be

happening over the next of ten days of morning in London? Well, the Daily Mail actually asked President Biden last night after his speech if he would be going to the funeral for the queen, and he indicated that he would be. Uh, we're going to be seen some symbolic jesters. The House is going to um pass a tribute to her on Tuesday when they come back, and then a journ in her name. We're expecting to see similar things in the Senate. That this really isn't going to impact the House schedule

or the Senate schedule much. Congress is still going to be doing their duties. But I'm sure we will hear of more folks who are going to be crossing the pond, going to be heading to to England as we start to get more details about what those arrangements look like. Now, let's talk a little bit more about that appearance that the President gave at the Democratic Committee meeting last night just outside Washington, d C. As you mentioned, it did

turn to politics pretty quickly after the tribute to the queen. Oh, yeah, very very quickly. And you know this, of course, is is Biden in very friendly territory. He's talking to a group of people who are all actively working every day to make sure that Democrats are elected in the mid terms.

Um and Biden, you he his speech did Dutch a little bit on the accomplishments of his administration, but we are really seeing him lean in to going after Trump, into tying Republicans to Trump and trying to paint the entire party as extremists. He talked in his speech last night about the rioters who mobbed the capital on January six, and how Trump is now talking about offering them pardons

and and kind of granting them that forgiveness. And you know, for Biden, this is a way to sort of tie all Republicans to the extremes that we saw at the Capitol, even though of course many Republicans have come out and uh and condemned what happened on January six. Um. But this is something that we're going to be seeing much more of. Of course, this coincides with the continuation of the January six Committee in the House. We know that they're expected to hold some hearings coming up this month.

Punch Bowle News reporting this morning that they could come in late September, which of course obviously puts it a little bit closer to the November elections. UM. So this is something that I think you're going to see Democrats continue to talk about I expect anywards the phrase maga republican uh to be used quite a bit in the next few weeks. Now we've heard it quite a lot. Actually,

haven't wait. In our last minute here Emily tell us more about this Justice Department appeal of the special Master ruling, the continued saga of the classified documents. So, if you remember the other week, Trump basically said, hey, I want a third party, a so called special master, to please review these documents and kind of say, you know, this is what the FBI can have, but you know these these belong to Trump and and he can have them back.

UM and the Department of Justice has now filed an appeal to that ruling, basically saying that the ruling was really confusing. They want to know if they can continue to use the documents they contained as part of their investigation is to whether Trump or anyone else mishandled government records. How they say that a current risk assessment being done on the documents has been put on hold because of

confusion over the judge's ruling. UM and the d o J is also of course arguing that this ruling this delay that will need to take place for this third party to look through all the documents that could wind up being a national security risk. So this appeal was expected. I think at this point we're just waiting to see what the result is going to be. Certainly, this is a probably not the last time all the courts are going to be involved with what's happening with these documents understatement.

Once again, thanks Emily, really good having it on with us this morning. Bloomberg Government reporter Emily Wilkins. Read more on Bloomberg dot com or on the Bloomberg Terminal. Listen to Bloomberg Radio in Washington at Bloomberg and one oh five point seven FM h D two, where our special coverage on the life and continuing legacy of the late Queen Elizabeth the Second continues on Bloomberg Surveillance with Tom Keene, Jonathan Farroll, and Lisa Abramo. Its broadcasting from our European

headquarters in London. For Karen Moscow. I'm Nathan Hagar. This is Bloomberg