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Good morning, I'm Nathan Hager.
And I'm Karen Moscow. Here are the stories we're following today.
We begin with politics and the biggest day on the presidential primary calendar. Voters in sixteen states and one territory head to the polls on this Super Tuesday. Former President Donald Trump is expected to dominate, but his last Republican opponent, Nikki Haley, is making her stand in one of the biggest states in play tonight.
This is a choice between do you want more of the same or do you want something new?
Nicki Haley held a rally last night in Fort Worth, Texas. In all, eight hundred and sixty five Republican delegates are up for grabs this evening. Twelve hundred and fifteen are needed to clinch the nomination. Former President Trump picked up twenty nine more delegates last night in North Dakota, sweeping the state's caucuses with eighty four point six percent of the North Dakota vote to Hayley's fourteen point two percent.
Former President Trump currently has two hundred and seventy three delegates to Haley's forty three.
Well, Nathan, while it appears we're headed for a Biden Trump rematch. Republican strategist and owner of a Red Wave Communications David Kanchel thinks it'll be a very close race.
Latest round of polls. New York Times Cien Pool in particular, has real concern among Democrats for Biden and whether or not he's going to be able to pull this off, because you know, his net favorability is terrible, his job approval is way down. Trump's favorability is actually higher than Joe Biden's right now, which is kind of funny. We haven't seen that until, you know, the last couple of years here, and I think this is going to be a real nail bier.
Republican strategist David Kanchell made the comments in an interview with Bloomberg's Joe Matthew on Balance of Power to an in for special coverage of Super Tuesday, beginning an hour after the first polls close. It all starts tonight at eight pm Wall Street Time on Bloomberg Radio.
Well, Karen, Donald, Trump is going to be allowed to compete in today's Colorado primary. That's after the Supreme Court unanimously overturned the Colorado Supreme Court's decision to remove him under the Constitution's insurrection clause. The US High Court ruled that states can't make that call. Former President Trump said the result was a milestone.
I think it's a very big day for America.
I think it's a very big day for liberty, and I think it's just a great day for this country.
And while the decision was unanimous, the court's three liberal justices said the majority went too far into siding the Constitution's insurrection clause can't be enforced without Congress passing a law first.
Well, another election news, Nathan, Today's California primary is turning out to be very interesting when it comes to the Senate race. Bloomberg's Ed Baxter reports from San Francisco.
The polling has really tightened up here in California so called jungle primary. The top two vote getters no matter which party, advance as to the general in November. The man who presided over the first Trump impeachment, Adam Schiff, is running well ahead of Democratic contenders Katie Porter and Barbara Lee. But Scheff has spent money attacking GOP newcomer former Major leaguer Steve Garvey. Political strategists say it was thought out in advance to actually help Garvey and boost
his name recognition. Democrats have had no problem winning Senate seats here over Republicans. Some polling now actually though, has Garvey in the lead in San Francisco. I'm at Baxter Bloomberg Radio.
Okay, and thank you. Turning to markets, futures are lower a day after stock slipped from record highs Sam Stoveall, chief investment strategist at CFRII, says he would not be surprised to see a market pullback.
We're at that point right now where I think that we could end up digesting some of the recent gains, but I am encouraged by the fact that we have never fallen back into a new bear market after recovering what we lost in the.
Prior one cfr A Sam Stovall says the next big event for markets comes tomorrow when FED Chair J. Powell begins semi annual testimony before Congress.
Well Nathan, Bitcoin's price is closing in on an all time high, but in market value terms, that token already touched a record. According to data from coin get go, the market capitalization of bitcoin reached one point three five trillion dollars, and that tops the peak of one point two eight trillion in November of twenty twenty one. Now is the month of token jumped to just under sixty nine thousand dollars and checking bitcoin right now, it's at sixty six thousand, six hundred dollars.
In company news, Karen disappointing iPhone sales for Apple in China. Let's get the story now from Bloomberg's John Tucker, John.
And Nate Counterpoint research. His iPhone sales in China fell and eye opening twenty four percent over the first six weeks of this year. Buyers may be attorney the cheaper brands. The top market share went to Vivo, which targets the budget segment with a handset, accounts for more than half of Apple sales. To stimulate demand, Apple even resorted to rare discounts on its web store. In January, Apple fell below sixteen percent market share from nineteen percent a year ago.
According to the researchers, what China government officials have asked their employees not to bring foreign devices like iPhones to work. Apple share is a full and nine percent since the start of the year, and it lost the title of world's most valuable company to Microsoft. The pre market shares this morning down one and a half percent. John Tucker, Bloomberg Radio.
All right, John, thanks well. China is having an impact on another big US company, Bloomberg has learned. Advanced micro Devices has hit a US government roadblock in attempting to sell an artificial intelligence chip tailored for the Chinese market.
Sources AAMD had hoped to gain a green light from the Commerce Department to sell the AI processor to Chinese customers, but US officials told AMD that the ship was still too powerful and that the company must obtain a license from Commerce's Bureau of Industry and Security in order to sell it. The stock is down more than three percent this morning.
Well. Meanwhile, Karen China has set its economic growth target for this year at around five percent. Bloomberg Daybreak Asia anchor Brian Curtis has more from Hong Kong.
The target is the same as last year, but it may be more difficult to attain given the less favorable comparisons than last year. Authorities will issue one trillion yu on or one hundred and thirty nine billion dollars of Ultralong Special Central Government bonds. This is part of a ramp up in fiscal stimulus, and it moves more debt to the central government away from the provinces. The budget deficit projected at three percent of GDP for twenty twenty four,
military spending up seven point two percent. Markets turned up their noses a little on this, but it's still early. In Hong Kong. Brian Curtis, Bloomberg Radio.
All right, Brian, thanks and on the wealth front, for the first time in more than nine months, Elon Musk is no longer the world's richest person. We get the details from Bloomberg's Chirleipellet.
Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos. Musk now has a net worth of one hundred ninety seven point seven billion. Bezos's fortune is two hundred point three billion. It is the first time that Bezos, the founder of Amazon, has topped Bloomberg's ranking of the richest people since twenty twenty one. The wealth gap between Musk and Bezos, which at one point was as wide as one hundred forty two billion, has been shrinking as
Amazon and Tesla Shar's move in opposite directions. In New York Charlie Pellett Bloomberg Radio.
And it's time now for a look at some of the other stories making news in New York and around the world. And for that we're joined by Bloomberg's Michael Barr Michael, good Morning.
Good morning here. And the Biden administration continues to push for a six week pause to the war in gazap as well as for Israel to stop blocking aid into the besiege enclave and for her mass to release the remaining hostages held there. Meanwhile, the US is planning to continue to air drop supplies into Gaza. Bloomberg's Nancy lyons with the latest.
The United Nations says a quarter of the two point three million people in Gaza faced starvation. The Pentagon's Matt Miller says the US started air dropping food into the region over the weekend and will continue distributing aid.
People are desperate for food, for water, for medicine. Parents are facing impossible choices about how to feed their children.
Many don't know where the next meal will come from. Miller says these air drops are intended to supplement, not replace aid. Through other mechanisms, he says the US is pressing Israel to open additional crossings and routes into Gaza in Washington. Nancy Lyons Bloomberg Radio.
New York Governor Cathy ho Coal indicated CHAP plans to increase the number of law enforcement officers in the city subway system. The development comes after Hokll met with Mayor Eric Adams and the NYPD's Chief of Transit to find ways to put more state resources in the subway system. That is on top the one thousand extra VIPD officers in the.
Subway, seeing more police on the platform, more cameras. As you know, I am the one who said that every single car has to have cameras on it. And because I kept pushing and not taking no for an answer or that we can't do it for a few years and lall be done. By the end of this year, we've over two thousand trains that have cameras on them and that has been very helpful in solving crimes as well as the platforms. And and I want every make sure that every conductor's booth area has cameras as well.
The NYPD says the subway system is seen a rise in major crimes by more than thirteen percent compared to the same time last year, President Joe Biden's administration is announcing a final rule curtailing credit card late fees. The Consumer Financial Protection BUA estimates its move the slash credit card late fees would say of an average of two hundred and twenty dollars per year for forty five million people. Global news twenty four hours a day and whenever you want it with the Bloomberg News.
Now.
I'm Michael Barr. This is Bloomberg Nathan.
All right, Michael, thank you time now for the Bloomberg Sports Up. They brought to you by Tri State Outy Your's John Stashauer.
Thanks Dathan. The Rangers were the hottest team in hockey really loft ten straight wins where they've lost through their last four. The hottest team now the Florida Panthers. At the Garden, they made it eleven of the last twelve. Sam Reinhardt two second period goals numbers forty three and forty four in the season. Panthers scored two more third period beat the Rangers four to two. Florida has the most point in the NHL. Plays again tonight at New Jersey.
The Devil's now being coached by Travis Green, formerly the coach in Vancouver. He was an assistant to Lindy Ruff. He was just fired in his fourth season in Jersey. The Devils thirty and twenty seven. They've lost five of their last seven. Bruins won four to one in Toronto, NBA. The Nets lost at home to Memphis one o six, one oh two. Wizards lost in Utah. For Washington, that's fifteen losses in a row. Yankees went to Jupiter beat the Marlins three to two. Clark Schmidt looks ready for
the season. Four scoreless Sennings allowed only one hit. The ex met pitcher Zach Wheeler has flourished in Philadelphia has now cashed in a year ahead of free agency. Wheeler gets a new deal with the Phillies for three years, one hundred and twenty six million. Spaking of Philadelphia, that's where Jason Kelsey was yesterday, emotionally making his retirement official after thirteen seasons as a fan favorite and anchoring the Eagles offensive line.
I don't know what's next, but I look forward to the new challenges and opportunities that'll wait. And I know that I carry with me the lessons for my time here, and that forever. We shall all share the bond of being Philadelphia's.
Next for Kelsey may well be a broadcasting gig. What's next for Russell Wilson? Released by Denver after two lackluster seasons there, he becomes a thirty five year old free agent quarterback. You don't have to pay him much money because Wilson's assured of making thirty nine million to the Broncos.
John Stashchetwe're Bloombrook Sports. Nathan Okay, John, thank you. We want to get right back to this marquee day in the presidential primary race. Sixteen states and one teary Award delegates on this Super Tuesday, and it could be the day Donald Trump all but seals the deal for the Republican nomination. We are joined now by Greg Valier, chief US policy strategists for AGF Investments. Greg, good morning. Do you see any states where it could be a contest today?
Not really, Nathan, good Morning. It would be face to watch California, Texas fates like that. But frankly, I think the big story to watch is going to be what Nicky Haley does. She may be gone by the end of the week.
That is the big question. What will Nicky Haley do if, as expected, she doesn't win any states tonight.
Yeah, it's awfully hard to see her staying in. It's a battle, as you know, for delegates, and she's just doing very poorly on delegates. She can claim that, you know, thirty percent of the party likes her and would vote for her, but that is not going to get her the nomination.
It might not get her the nomination greg but it does raise the question of where those thirty percent of votes that went for Nikki Haley go. Does former President Trump reach out in some way to those voters?
Yes, I think one of the surprises of the spring will be that Trump is more conciliatory with Republicans who don't like him. I think he's shrewd enough to realize their votes are really important. So I think that Haley will probably offer a half hearted endorsement of Trump. But even that I think could make a difference in the suburban voters in Pennsylvania moderates in Pennsylvania, so there's high stakes in what she does.
There would be interesting if she did give even a half hearted endorsement, because as we heard over the weekend, she's hinting that she might not stick to her RNC pledge to endorse the eventual nominee. Could Nikki Haley continue to be something of a gadfly in this race even if she doesn't go on from here?
She could, But I think her focus is going to shift rapidly to the twenty twenty eight primary. I know that's a long way off. We haven't even had these primaries, but I think that she would realize as Ronald Reagan did, by the way, in nineteen seventy six, Reagan said all right, I'm not going to run, and then he waited until nineteen eighty and he won the presidency. And she's young, she'd be fifty five fifty six during the twenty twenty
eight primaries. I think she will start thinking that that could be her real opportunity.
If this does turn out to be a decisive night, it's going to set up the longest general election contest in recent memory, for a rematch that the polls show most Americans don't want. What could that mean for the fatigue factor heading into November.
It's a good point, Nathan. I have lots of friends in Canada, and I tell him I'm jealous because their campaigns last about six weeks, which seems normal unlike what we have, so yes, fatigue. There could be speculation about, you know, maybe a long shot third party candidate like Robert F. Kennedy Junior. But it's these two guys. I don't see anyone else really changing the outlook.
And when it comes to the Democratic primary, are you looking for any potential warning signs for President Biden in the Super Tuesday like we saw from Michigan last.
Week could be good point. I think that there could be more states that have uncommitted. That embarrasses the White House. It highlights the controversy over the Israeli war with Hamas, and it's an added annoyance that Trump that Biden does not need.
And how could this set up the State of the Union address that we're going to get on Thursday night? You got about thirty seconds left.
Sure this address is going to require Joe Biden to be flawless, no gas, no stumbling. It's got to be a flawless address because if it's not, his ratings could go down even more.
This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond.
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