Bloomberg, Tom Busby, Nathan discussed on Bloomberg Daybreak

Automatic TRANSCRIPT

Hager And I'm Karen Moscow in U.S. stock index futures on the rise this morning we're coming up to 6 O one on Wall Street and we check the markets every 15 minutes throughout the trading day on Bloomberg and S&P futures are up about 26 points down futures up a 157. And NASDAQ futures up about 73, the ten year treasury, little change, yields 2.98% and a yield on the two year 3.16% and nymex crude oil is down three tenths of a percent. Nathan. Karen, we begin with a growing number of companies clamping down on hiring. It's a trend showing up in firms from tech to banking. Let's get the latest live from Bloomberg's we need a young good morning granita. Good morning, Nathan. Bloomberg sources say apple is putting a lid on hiring to limit spending. Leaders have not adopted a company-wide policy, but this more cautious approach mimics moves by Amazon and Microsoft. And it's more evidence that even Silicon Valley is worried about an impending recession. Now Goldman Sachs also plans to slow hiring to rein in expenses, CFO Dennis Coleman says Goldman could also reduce the pace of replacing staff it loses because of attrition and will reinstate annual performance reviews. Live in New York, I'm Renee young Bloomberg daybreak. All right, we need to thank you. We're also seeing a tepid outlook from another big name in tech shares of IBM or down about 5% in early trading. The company is lowering forecast for free cash flow this year due to the impact of a strong dollar and the loss of business in Russia. Bloomberg's Shirley pellet has more. The revision overshadowed results the top analyst estimates signaling that demand for mainframe computers consulting and cloud services remain strong amid concerns of a pullback in tech spending. IBM said it estimates free cash flow of $10 billion this year at the low end of a previous range of ten to $10.5 billion. Chief financial officer Jim Cavanaugh said the reduced range is not a result of a broader business slowdown In New York, Charlie pellet Bloomberg daybreak. All right, Charlie, thank you, earnings continue to roll in with ten companies in the S&P 500 reporting today this afternoon we hear from Netflix, Bloomberg's Tom busby has a preview. Well, the keeper investors will be subscriber losses for the second quarter, which the streaming giant predicted could total 2 million in its previous earnings report in April when it announced its first ever subscriber losses. Also of note whether the blowout success of the latest season of Stranger Things may have helped Netflix keep some subscribers, and its new crackdown on password sharing now in effect in 5 Latin American markets. Bloomberg consensus calls for earnings per share of $2 91 cents, revenues of just over $8 billion. Tom busby, Bloomberg, daybreak. Tom, thank you. Now to the latest in Twitter's legal dispute with Elon Musk, Twitter is dismissing Musk's complaints that he does not have enough information about spam and robot accounts. The company calls it an irrelevant sideshow and wants to judge to hold a trial as soon as possible over Musk's cancellation of his $44 billion takeover. Watching Bitcoin rise this morning, Karen, but it's off its highs for the day. In fact, earlier Bitcoin almost hit 23,000. The cryptocurrency has struggled to escape a 19 to 22,000 range as investors lick their wounds from the recent route. Martin Chavez from 6th street partner says the time has come to finally regulate the crypto market. Regrettably, we usually wait until some calamity before there is regulation. And the question is always, was this calamity big enough or does there need to be another leg down before we have the appropriate regulation? Martin Chavez at 6th street partners made the comments in an interview on Bloomberg television will have more on the future of Bitcoin throughout the day as the Bloomberg crypto summit gets underway in New York. Well, turning to the global economy now, Nathan pressure is building on the European Central Bank, sources say the ECB may consider raising interest rates by more than expected this week because the worsening inflation backdrop. Sources say the Central Bank may raise rates by 50 basis points on Thursday that's double that 25 point high get outline just last month. Well, back here in the U.S., Karen prices the pump keep dropping. In fact, they've fallen for 35 straight days hitting a two month low. Triple-A says the nationwide average is just below four 50 a gallon, prices have fallen more than 10% since hitting a record last month. Climate change and focus at The White House, Nathan, President Biden is reportedly considering declaring a climate emergency as soon as this week details now for a Bloomberg's Amy Morris from our 99 one newsroom in Washington. Senator Jeff merkley of Oregon says climate legislation has no chance to get through Congress. Instead, he says the president should use the full powers of the executive branch to declare an emergency, which would give him the authority to redirect funds for clean energy projects or restrict offshore drilling and could even curtail the transport of fossil fuels. And now sources are telling The Washington Post that Biden is expected to announce additional actions aimed at curbing emissions as soon as this week. In Washington, I'm Amy Morris, Bloomberg daybreak. All right, Amy, thank you. Let's turn to Capitol Hill now where a computer chips are in focus. The Senate wants to quickly pass $52 billion in grants and incentives for American semiconductor makers. Senate majority leader Chuck Schumer says Democrats and Republicans are hashing out the final details. The legislation is a scaled down version of a larger bill intended to make the U.S. technology sector more competitive with China. Our supply chain issues are also in focus this morning, Nathan, treasury secretary Janet Yellen is calling on so called a trusted U.S. allies to help fix a supply chain, speaking in South Korea, Yellen called on U.S. partners to strengthen trade relationships with what she calls friend shoring. Princess is about deepening relationships and diversifying our supply chains with a greater number of trusted trading partners to purposes to lower risks for our economy and theirs. Treasury secretary Janet Yellen singled out China as a country on which the U.S. and others should be less reliant. Futures this morning on the Raj S&P futures up about 30 points down features of a 189 NASDAQ futures up 85. Straight ahead, your latest local headlines plus a check of sports, this is Bloomberg. Thanks Karen 6 O 7 on Wall Street 73° in Central Park as we get ready for a heat wave and

Coming up next