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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with the latest on talks between the

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Speaker 3: US and Iran. Both countries traded messages over the weekend

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Speaker 3: seeking changes to a draft agreement that would extend their

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Speaker 3: ceasefire and reopen the Strait of Horn Movez. President Trump

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Speaker 3: posted on social media that the talks will work out

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Speaker 3: well despite the latest clashes near the strait. Former Trump

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Speaker 3: national security advisor John Bolton says the president may be

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Speaker 3: getting a deal that's best for him, but maybe not

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Speaker 3: for the country.

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Speaker 4: This is a deal about gasoline prices at the pump

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Speaker 4: in the United States. Trump worries, obviously about the price

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Speaker 4: levels people are paying. He's worried about the effect on inflation.

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Speaker 4: He's worried about the effect on the elections in November.

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Speaker 4: But this is not a deal that really ends the

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Speaker 4: war in a satisfactory way for the United States.

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Speaker 3: Former national security advisor John Bolton's with David Gera and

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Speaker 3: Christina Raffini on Bloomberg this weekend. Catch the show live

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Speaker 3: every weekend starting at seven am. Wall Street time on

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Speaker 3: Bloomberg Radio, Bloomberg Television, and the Bloomberg Business app Well, Nathan.

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Speaker 2: Part of the ceasefire initiative would have Iran proxy Hezbla

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Speaker 2: stop all attacks on Israel while Israel refrains from further

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Speaker 2: escalation in Lebanon. But Israel expanded its ground assaulted to

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Speaker 2: the country over the weekend. Bloomber's DNA Crege covers the

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Speaker 2: Middle East and says it's the broadest incursion in a

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Speaker 2: quarter century.

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Speaker 5: They have seized a strategic ridge, which is the Beaufort Ridge,

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Speaker 5: and that oversees the Galilee, which is a lot of

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Speaker 5: the northern community in Israel which have come under fire

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Speaker 5: from Hsballlah.

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Speaker 6: This could be a problem for.

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Speaker 5: The US and that Ranians.

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Speaker 7: Ron has always said that part of any.

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Speaker 5: Deal with the US should ensure a halt to all

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Speaker 5: conflicts in the region, primarily the one in Lebanon.

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Speaker 2: And Bloomber's Dinner Crege adds that the US is sponsoring

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Speaker 2: talks between Israel and Lebanon to end the crisis.

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Speaker 3: Right now, Karen oil is rebounding. Brent's headed for its

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Speaker 3: first daily gain in four sessions. It's up more than

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Speaker 3: three percent at ninety four dollars a barrel, while West

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Speaker 3: Texas Intermediate's above ninety dollars a barrel. That's a gain

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Speaker 3: of three and three quarters percent. Exon Mobile executives are

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Speaker 3: warning the US crewed reserves are running dangerously low, but

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Speaker 3: National Economic Council Director Kevin Hassett says prices will come

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Speaker 3: down as more traffic moves through hor moves.

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Speaker 8: When you get the straits open, then it's about three

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Speaker 8: hundred nautical miles per day for one of those big tankers.

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Speaker 8: And so the people in Pakistan and India that have

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Speaker 8: refineries that are mostly shut down, you're going to get

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Speaker 8: their oil. They'll turn the refineries up, and then refined

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Speaker 8: product prices will go down.

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Speaker 6: Globally right now. See Economic Advisor.

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Speaker 3: Kevin Hasset appeared on ABC's This Week Heard Every Sunday

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Speaker 3: on Bloomberg Radio.

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Speaker 2: Mean Malend, New Jersey Nathan Governor Mikey Cheryl says federal

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Speaker 2: officials will allow visitors back inside the Delaney Hall Immigration

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Speaker 2: Are Immigrant Detention Center in Newark. The detention center overseen

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Speaker 2: by Immigration and Customs Enforcement, suspended visits last week as

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Speaker 2: tensions escalated over living conditions for detainees.

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Speaker 6: The situation reached a.

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Speaker 2: Boiling point this weekend when protesters through projectiles at police, set.

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Speaker 6: Fires, and fought over barricades.

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Speaker 2: Governor Cheryl told reporters that quote violent chaotic clashes hurt everyone.

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Speaker 9: I am very concerned about what's going on in De

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Speaker 9: Laney Hall, and this is all taking away from the

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Speaker 9: protesters who have been very I think effective at bringing

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Speaker 9: attention to that New Jersey.

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Speaker 2: Govinor Miikey Cheryl called on the Department of Homeland Security

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Speaker 2: to provide Karen medicine for detainees, give them a chance

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Speaker 2: to review their cases, and ultimately close the facility.

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Speaker 3: Can back to geopolitics, Karen. Defense Secretary Pete Hegseth delivered

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Speaker 3: a major speech at the Shangri Lad Dialogue in Singapore

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Speaker 3: over the weekend and got some attention for an issue

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Speaker 3: he didn't mention, Taiwan. Later, heg Seth sought to assure

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Speaker 3: allies that staying quiet on the island is the best

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Speaker 3: way to project American strength.

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Speaker 10: The policy we have on Taiwan is the same as

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Speaker 10: it we at the beginning of this administration. The only

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Speaker 10: change you might see is how how we talk about

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Speaker 10: the entire Yevin. What I talked about today was strong, quiet,

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Speaker 10: but clear.

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Speaker 3: And Defense Secretary heigs Hath's softer language was a sharp

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Speaker 3: contrast to his address a year ago. It came weeks

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Speaker 3: after Chinese President shi Jinping warrened President Trump and Beijing

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Speaker 3: that mishandling Taiwan could lead to clashes.

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Speaker 2: Well in South America, Nathan, a pro Trump conservative outsider,

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Speaker 2: is making progress toward becoming Columbia's next leader.

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Speaker 6: Celebrity lawyer Ablalardo de.

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Speaker 2: La Espriea unexpectedly top the first round of Columbia's presidential

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Speaker 2: vote as Latin America heads into another highly polarized election.

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Speaker 2: The conservative outsider is in a strong position to become

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Speaker 2: the nation's next president when he faces leftist Senator Evan Sepeda,

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Speaker 2: an ally of the country's current president, in a June

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Speaker 2: twenty first runoff.

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Speaker 3: Turn back to markets in the Economy Now Karen, Former

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Speaker 3: Federal Reserve Chairman Jerome Powell is warning the Central Bank

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Speaker 3: will lose its credibility if presidents are free to dismiss

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Speaker 3: FED officials over policy disagreements. Bloomberg's John Tucker joins us

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Speaker 3: that story. Good Morning John, and good morning Nathan. Powell

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Speaker 3: may no longer be FED chair.

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Speaker 11: But that doesn't mean he's about to back down on

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Speaker 11: the issue of FED independence.

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Speaker 12: If any administration finds a way to remove FED officials

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Speaker 12: over policy differences, then future administrations will do.

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Speaker 11: So as well.

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Speaker 12: The public would lose faith that the Central Bank will

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Speaker 12: make decisions based only on what's best for all Americans.

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Speaker 12: The Fed's credibility would be lost.

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Speaker 13: Well.

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Speaker 11: He was accepting the John F. Kennedy profile and encourage

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Speaker 11: Ward in Boston. Pal's remarks come as the Supreme Court

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Speaker 11: is deciding the fate of FED Governor Lisa Cook. President

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Speaker 11: Trump trying to fire her because like pals, you won't

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Speaker 11: bend to the president's will. A Pale endured countless verbal

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Speaker 11: assaults by Trump and an investigation by the Trump Justice Department.

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Speaker 11: A Pal's remarks his first public comments since he has

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Speaker 11: succeeded as head of the Central Bank. By Kevin Warrish.

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Speaker 11: I'm John Tucker Bloomberg Radio.

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Speaker 6: Right, John, thank you.

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Speaker 2: We have big news and big tech and videos. Enter

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Speaker 2: the person on computer market with a new chip called

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Speaker 2: RTX Spark super Chip. Its goal is to loosen Intel's

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Speaker 2: stranglehold on the market and modernize machines for the AI era.

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Speaker 2: The chip will debut this fall in leading brands including

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Speaker 2: Dell and Lenovo, and we'll run Microsoft's Windows for ARM,

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Speaker 2: operating system and Video. CEO Jensen Wong says, this is

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Speaker 2: about rethinking the processor itself.

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Speaker 8: We built CPUs for humans in the past. We need

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Speaker 8: CPUs for agents, agentics systems.

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Speaker 6: The properties are different.

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Speaker 7: Why would the old CPUs be the same?

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Speaker 2: E Media CEO Jensen Wong spoke at the Computex trade

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Speaker 2: show in TYPEI and checking shares of and Video this morning.

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Speaker 6: They're up more than two percent.

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Speaker 3: And global stockscarner set for new record highs. With AI

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Speaker 3: enthusiasm pushing equities higher. The Philadelphia Semiconductor Index of US

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Speaker 3: chip stocks.

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Speaker 6: Is on course for its best quarter ever.

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Speaker 3: Bloomberg Markets reporter Anthony Stephens says the index has risen

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Speaker 3: almost seventy percent in just the last two months.

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Speaker 14: The repeatability of the earnings that you're seeing across the

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Speaker 14: tech space that is up for grabs, But the fact

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Speaker 14: that the earnings are amazing is not up for debate.

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Speaker 14: You're seeing that in the macro numbers as well. Korean

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Speaker 14: exports grew in high fifty percent range that's the fastest

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Speaker 14: growth since before.

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Speaker 6: I was born.

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Speaker 3: Frankly, and that was Bloomberg's Anthony Stevens. As Ai Bulls

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Speaker 3: argue the rally is being driven by structural changes.

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Speaker 2: And in deal news, Nathan Berkshire Hathaway will acquire Taylor

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Speaker 2: Morrison for six point eight billion dollars in an all

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Speaker 2: cash DAL marketing, the conglomerates first major purchase under.

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Speaker 6: Chief executive Greg Abel.

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Speaker 2: The offer is a twenty four percent premium to the

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Speaker 2: home builder's Friday closing price, and Taylor Morrison CEO Cheryl

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Speaker 2: Palmer will continue.

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Speaker 6: To leave the company.

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Speaker 2: Time now for look at some of the other stories

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Speaker 2: making news in New York and around the world, and

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Speaker 2: for that bretined by Bloomberg's Michael Barr Michael good Morning,

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Speaker 2: Good Morning.

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Speaker 13: Karen. Kenyan Media said that American medical personnel and equipment

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Speaker 13: had arrived at a Kenyon air base set to host

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Speaker 13: a US backed a Bola Isolation and Treatment center. According

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Speaker 13: to NTV, the move signaled that Kenya was pushing ahead

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Speaker 13: with the establishment of the facility, ignoring the May twenty

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Speaker 13: ninth High Court order that suspended it. Meanwhile, the head

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Speaker 13: of the World Health Organization in the Democratic Republic of

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Speaker 13: the Congo. Tedros Adenam Gabriesis says that community is key

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Speaker 13: to controlling this rare form of abola.

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Speaker 15: Everyone should take care of himself for herself and take

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Speaker 15: care of each other as well. By doing that, we

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Speaker 15: can stop this outbreak as soon as possible.

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Speaker 13: At a ceremony, Gabrieesis presented survivor's certificates to four nurses

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Speaker 13: who contracted abola while treating patients during the ongoing outbreak

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Speaker 13: in Congo. A tragedy in Georgia over the weekend after

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Speaker 13: a bride and groom were in a helicopter crash. Dave

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Speaker 13: and Jessiny Fiji wave goodbye to their guests attending the

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Speaker 13: reception near Dawsonville. The couple were headed to PG Tree

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Speaker 13: to Cab Airport and then spend the night in a

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Speaker 13: downtown Atlanta hotel. They would not make it. Dave's father,

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Speaker 13: George remembered his twenty five year old.

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Speaker 14: Son, chirschild's a gift of God for us. When he

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Speaker 14: was a God fearing child, he was so handsome, beautiful,

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Speaker 14: we could say it was a perfect wedding.

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Speaker 13: The copter crash in the remote wooded area of Dawson County.

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Speaker 13: According to Fiji's parents, their daughter in law was sent

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Speaker 13: to the hospital for treatment. The pilot was also killed.

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Speaker 13: The NTSB is investigating Texas Republican Senate Nominie Ken Baxton

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Speaker 13: will visit Senate GOP leaders in Washington to ease their

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Speaker 13: concerns about his viability. Paxton, the state attorney general, settled

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Speaker 13: a criminal securities fraud charge and was impeached by the

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Speaker 13: GOP led Texas House. Paxton faces Democrat James Tallerrico, who

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Speaker 13: his party hopes to be the first Democratic Senator from

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Speaker 13: Texas in more than thirty years. Global News twenty four

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Speaker 13: hours a day and whenever you want it with the

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Speaker 13: Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Karen.

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Speaker 6: Thanks Michael.

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Speaker 2: All time now for our Bloomberg Sports update, and for

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Speaker 2: that we bring in John stash Hour.

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Speaker 13: Thanks Darren.

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Speaker 1: The upsets continue at the French Open. Four time champion

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Speaker 1: Egas Chiantek the latest to lose. Arena Sabalanka is the

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Speaker 1: top seats. She's the only one of the top sixties

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Speaker 1: still in. She'll face Naomeo Osaka later today. The only

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Speaker 1: American left of the women's singles is Madison Key. She

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Speaker 1: has an early match today. Two Americans left on the

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Speaker 1: men's side both play their fourth round matches today. Baseball

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Speaker 1: in Sacramento, the Yankees beat the Ages thirteen to eight.

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Speaker 1: They scored all thirteen runs in the third inning. That's

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Speaker 1: the Bloomberg Sports Update.

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Speaker 6: Stay with us.

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Speaker 3: More from Bloomberg Daybreak coming up after this.

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Speaker 16: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 16: and around the world on Bloomberg dot Com and the

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Speaker 16: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm Nathan.

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Speaker 16: It will all work out in the end.

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Speaker 3: That is President Trump's latest word to critics of ongoing

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Speaker 3: negotiations with Iran is both sides trade fire again near

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Speaker 3: the strait of horror moves. One of those critics is

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Speaker 3: former Trump National security advisor John Bolton. He's concerned about

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Speaker 3: unfreezing Iran's assets as part of a deal.

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Speaker 4: It's one thing to provide unfrozen assets to a real

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Speaker 4: government and Iran that represents the people. If we provide

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Speaker 4: this government frozen assets, it will entrench itself still further.

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Speaker 3: It's former National security advisor John Bolton, speaking on Bloomberg

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Speaker 3: this weekend. Joining us this morning from Dubai is Bloomberg

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Speaker 3: News United Arab member it's bureau chief Dana Krach. Dana,

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Speaker 3: thanks for being with us this morning. Where do things

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Speaker 3: stand in the negotiations and can we say the ceasefire

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Speaker 3: is still holding this morning?

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Speaker 6: Good morning, Good morning.

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Speaker 7: Yes, on the talks front, I would say a stalemate.

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Speaker 7: But we've seen the Iran and the US trading fire

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Speaker 7: just like in previous days, with really no breakthrough for

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Speaker 7: the supposed MoU and it's probably not going to see

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Speaker 7: the light today. Iron attacked earlier today Kuwait again for

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Speaker 7: the second time in a few days, and it said

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Speaker 7: it was in response to US strikes on military targets

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Speaker 7: in southern Iran now the central commanding and struck radar

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Speaker 7: command and control sites for drums and around this weekend.

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Speaker 7: So this of course adds to the mixed signals we've

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Speaker 7: been seeing, you know, the last week and this weekend

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Speaker 7: on whether a deal is closed to be announced. And

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Speaker 7: you know, we remember from Friday President Trump said he'd

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Speaker 7: make a you know, quote unquote final determination on the deal,

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Speaker 7: but his meeting at the White House, you know, ended

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Speaker 7: without an announcement, and today he just said, you know,

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Speaker 7: sit and relax. He's working on a good deal that'll

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Speaker 7: be good for the US and it's ally Now what

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Speaker 7: we know is that the MoU draft is being sent

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Speaker 7: back and forth between the two of course, likely via

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Speaker 7: the main mediator, Pakistan. The deal would open or reopen

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Speaker 7: horm laws, extend the seas fired to sixty days, which

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Speaker 7: seems to be still holding despite the strikes on Kuwait.

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Speaker 7: So and during that sixty days, you know, the nuclear

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Speaker 7: program would be discussed. So but as you've just mentioned to,

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Speaker 7: the President finds himself under pressure from several angles. You know,

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Speaker 7: rise and gasoline prices in the US, critics saying we

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Speaker 7: should not, you know, unlock the billions of dollars that

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Speaker 7: are in Doha for the Iranian regime now and they

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Speaker 7: actually want President Trump to maybe rein in the Iranian regime.

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Speaker 7: Also another angle is inflationary impact from the continued closure

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Speaker 7: of Homos and of course, you know allies and the

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Speaker 7: Gulf who probably fear a resumption of the war and

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Speaker 7: renewed attacks on their basis, just like we saw what

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Speaker 7: happened with Kuwait.

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Speaker 3: On top of all this, over the weekend, we saw

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Speaker 3: one of the biggest incursions by Israel into southern Lebanon

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Speaker 3: in many years, planning the flag at Beaufort Castle in

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Speaker 3: our last minute here, how could that complicate things?

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Speaker 6: It could.

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Speaker 7: Iron has always said the truth in Lebanon, a ceasefire

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Speaker 7: in Lebanon should be part of a deal with the US,

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Speaker 7: and that was part of the ceasefire that the US

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Speaker 7: and Dahran agreed to earlier in April. And we saw

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Speaker 7: gully Buff today, the Iranian parliament speaker and lead negotiator

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Speaker 7: for these talks, saying, you know, Israel's escalation in Lebanon

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Speaker 7: and the incursions that we saw the weekend as well

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Speaker 7: as the naval blockade are clear evidence of the US

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Speaker 7: not complying with the ceasefire. So this is probably putting

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Speaker 7: the ceasefire in the region at risk.

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Speaker 6: I'm Karen Moscow and I'm Nathan Hager.

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