Speaker 1: Live from the Bloomberg Interactor Brooker Studios. This is Bloomberg
Speaker 1: day Break for Wednesday, July six two. Coming up this hour,
Speaker 1: UK Prime Minister Boris Johnson clings to power or at
Speaker 1: ten Downing Street, were the ladies, the U S and
Speaker 1: China holds talks on the war in Ukraine. Oil stabilizes
Speaker 1: have to yesterday's eight percent so long, and Amazon takes
Speaker 1: a steak in grab hung your Jersey Governor Murphy science
Speaker 1: new gun legislation, plus New York Mayor Adams announced as
Speaker 1: a plan to get ghost cars off the streets. I'm
Speaker 1: Michael barn Or ahead, and I'm Scott Sedinberg. Both the
Speaker 1: Yankees ended, Mets lose, plus it up thet on Wimbledon.
Speaker 1: I'll have that and more coming up in sports. That's
Speaker 1: all strading ahead on Bloomberg day Break on Bloomberg, he
Speaker 1: Living freon New York, Bloomberg on Washington, d C, Bloomberg
Speaker 1: one oh six one, Boston, Bloomberg nine sixties and Francisco
Speaker 1: Syrius x M one nineteen and around the world on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business Act.
Speaker 1: Good morning, I'm John Tucker and I'm Karen, Moscow when
Speaker 1: US duncan next. Futures are little change this morning. We're
Speaker 1: coming up to six o one on Wall Street. We
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg, and futures are trimming their declines. The decks
Speaker 1: in Germany is higher, up one point four percent, can't
Speaker 1: comparis up one point six percent, and the foot Sea
Speaker 1: one hundred one and a half percent. Ten. Your treasury
Speaker 1: down one thirty second yield two point eight zero percent.
Speaker 1: They yield on the two year two point eight three percent.
Speaker 1: Comic School, this little change at one thousand, seven hundred
Speaker 1: sixty two dollars announced, the Euro one point two to
Speaker 1: five against the dollar, the n one five point three
Speaker 1: each too, and bitcoin is at twenty nine dollars, down
Speaker 1: one and a quarter percent. John, Karen, We're gonna have
Speaker 1: more in the markets and just a minute, but first
Speaker 1: we're gonna start with the latest on the future of
Speaker 1: Boris Johnson, the British Prime minister clinging to power following
Speaker 1: the resignations of two senior members of his government. Let's
Speaker 1: get more from Bloomberg's Lizzie Burden outside Number ten, Downing Street,
Speaker 1: started with a surprise apology from Boris Johnson about his
Speaker 1: handling of the Chris Pincher affair, which of course is
Speaker 1: just the latest chapter of the Pestminster story or these
Speaker 1: alleged sexual misconduct scandals. But that was quickly followed by
Speaker 1: the resignations. But two of his most senior team started
Speaker 1: dab at, the Health Secretary and the Chancellor Isshi Snat.
Speaker 1: Both their resignation letters attacked his integrity. And then it
Speaker 1: was the Attorney General and a string of junior government members.
Speaker 1: So it does seem that the tide is finally started
Speaker 1: turn against Boris Johnson. He came back with an emergency
Speaker 1: we shuffle, trying to show his fighting back. Bloomberg's Lizzie Burden,
Speaker 1: reporting outside ten Downing Streets, says Johnson will face questions
Speaker 1: in the House of Commons today. It will also be
Speaker 1: pure before a Parliamentary committee. Well, another political news this morning,
Speaker 1: john Foreign ministers from the Group of Twenty Nations are
Speaker 1: gathering in Bali, Indonesia, and Russia's invasion of Ukraine will
Speaker 1: top the agenda at the meeting. Nathan Hagar has more
Speaker 1: from our Bloomberg One newsroom in Washington, Secretary of State
Speaker 1: Anthony B. Lincoln heads to the G twenty summit today.
Speaker 1: The top US official says he will meet this weekend
Speaker 1: with his Chinese counterpart Wang Yee for a quote candid
Speaker 1: exchange about the war and what the U. S Expects
Speaker 1: not just from China, but from all responsible members of
Speaker 1: the international community. This will be Blincoln's first face to
Speaker 1: face encounter with Wong since October. The State Department says
Speaker 1: Lincoln is not expected to meet with Russian Foreign Minister
Speaker 1: Sergei Lavrov. He is also planning to attend the G
Speaker 1: twenty summit in Washington. I'm Nathan Hagar Bloomberg Daybreak. Thanks Nathan.
Speaker 1: The Secretary General of OPEK has died. Mohammed Barkindo was
Speaker 1: in the final weeks of his six year ten years
Speaker 1: the head of the oil cartel when he died in
Speaker 1: his native Nigeria, where it kinda oversaw one of the
Speaker 1: most turbulent periods in OPEC's history. He was sixty three. Meantime,
Speaker 1: in the markets, John Oil is recovering some of esterday's
Speaker 1: eight percent loss. Checking prances right now and I'm ex
Speaker 1: screwed Oil is up four tenths percent. It's a ninety
Speaker 1: eighty nine cents of barrel Brent is up one percent
Speaker 1: and a hundred three dollars eighties cents banks including Goldman Sactually,
Speaker 1: the recent plunge on recession fears is overdone and the
Speaker 1: outlook for energy consumption in China is improving. And in
Speaker 1: Asia over nine stocks dip as fears of an economic
Speaker 1: downturn lingered over financial markets and that have the dollar
Speaker 1: hovering at the highest level in more than two years.
Speaker 1: Let's get the recap from Bloomberg's Juliet Sally and Singapore.
Speaker 1: China chipmakers were one of the few bright spots in
Speaker 1: the markets Wednesday, after Bloomberg News reported the US is
Speaker 1: pushing the Netherlands to ban a s mL holding from
Speaker 1: selling to China technology essential in making a large chunk
Speaker 1: of the world's chips. But Asian energy stocks lost all
Speaker 1: this year's gains as crude oil struggled to regain Tuesday's
Speaker 1: steet losses bod a new program of virus testing in
Speaker 1: Shanghai has raised the likelihood of another lookdown and that
Speaker 1: weight on investor sentiment during Wednesday session in Singapore, Juliette
Speaker 1: Sally Bloomberg daybreak right Juliette. While here in the US,
Speaker 1: futures have been erasing their losses following yesterday's late day rally.
Speaker 1: At one point, the S and P five is down
Speaker 1: more than two percent before ending the day higher. Sylvia
Speaker 1: Oblonsky is chief investment officer at Defian CTFs. You know,
Speaker 1: I think in the near term we get that range
Speaker 1: found volatility. But investors that you have been waiting for
Speaker 1: something might be thinking, you know, we can't call the
Speaker 1: bottom here, but is it possible that the market has
Speaker 1: done some of the work for the Fed? And is
Speaker 1: it possible that putting that first dollar to work makes
Speaker 1: sense here? Sylvia Oblonsky at Defian c t F says
Speaker 1: the markets are already pricing in a recession, and on
Speaker 1: the economic calendar today we get minutes from the Federal
Speaker 1: Reserves June meeting. That's when the central bankers raised the
Speaker 1: interest rate by seventy basis points. Meantime, economists say a
Speaker 1: broad index of inflation expectations that the Fed watches is
Speaker 1: expensive to show a big rise when it's published later
Speaker 1: this month. Well, in corporate news, this more ning John,
Speaker 1: it looks like Amazon is on the acquisition trail, and
Speaker 1: we get the latest lie from Bloomberg's Randy A Young
Speaker 1: good morning, Ready to good morning, Karen. Amazon will get
Speaker 1: options for US two percent Steak and grub Hub, and
Speaker 1: we'll have the chance to increase that holding to fifteen percent.
Speaker 1: Amazon Steak will be in the form of warrants. They'll
Speaker 1: vest depending on how well the partnership performs and how
Speaker 1: many new customers come as a result. It's a relief
Speaker 1: for the struggling grub Hub, which in April announced plans
Speaker 1: to find an investor or bidd shares for parent company.
Speaker 1: Just Eat jumped as much as six percent to an
Speaker 1: Amsterdam today. The stock had fallen close to seventy percent
Speaker 1: this year. Live in New York, I'm gonna need a
Speaker 1: Young Bloomberg day break, all right, thanks riding to the
Speaker 1: crypto crash has claimed another victim. Broker Voyager Digital, has
Speaker 1: filed for Chapter eleven bankruptcy protection. The New York based
Speaker 1: firm sites market volatility and the collapse of a hedge
Speaker 1: fund to which it had lent money and in future
Speaker 1: is this morning our little change. The dacts in Germany
Speaker 1: is up one point four percent and the ten year
Speaker 1: treasury down three thirty seconds. You know two point eight
Speaker 1: one percent. They yield on the two year two point
Speaker 1: eight three per cent. And taking a look at crypto
Speaker 1: bitcoin down one at one d seventy seven dollars straight ahead,
Speaker 1: you're like this to local headlines plus a check of
Speaker 1: sports and this is Bloomberg. Thanksn six or seven of walls.
Speaker 1: Creet pant time to bring in Michael barn to find
Speaker 1: out one else is going on in New York hand
Speaker 1: around the world. Yeah, and thank you very much, sir.
Speaker 1: The gunman accused of attacking and Independence Day parade in
Speaker 1: suburban Chicago has been charged now with seven counts of
Speaker 1: first degree murder, and more charges are expected. Lake County
Speaker 1: State's Attorney Eric Reinhardt, the loss of life and these
Speaker 1: devastating injuries and the overwhelming psychological trauma demand we see
Speaker 1: justice and then we take broader action to protect life.
Speaker 1: State Attorney Eric Reinhardt says that the suspect, Robert Cremo,
Speaker 1: if convicted of a would receive a mandatory life sentence
Speaker 1: without the possibility of parole. New Jersey Governor Phil Murphy
Speaker 1: signed a package of bills touted to increase gun safety
Speaker 1: less than two weeks after the U. S. Supreme Court
Speaker 1: weakened the state's ability to restrict carrying concealed firearms, Murphy
Speaker 1: signed seven bills and promised more action. There are those
Speaker 1: who take seriously the words of the satirical website The Onion,
Speaker 1: and this was the headline, no way to prevent this,
Speaker 1: says only nation where this regularly happens, And sadly it
Speaker 1: appears six of these mistaken people sit on the Supreme
Speaker 1: Court of the United States of America. Governor Murphy says
Speaker 1: the new laws include mandatory training prior to a gun purchase,
Speaker 1: tracking of ammunition sales, and micro stamping technology so bullets
Speaker 1: can be traced to particular weapons. New York City Mayor
Speaker 1: Eric Adams says drivers of vehicles caught with illegal fake
Speaker 1: paper license plates will be towed and could pretend should
Speaker 1: be auctioned off. Thor Adams says that they're cracking down
Speaker 1: on ghost cars because we know the drivers of these
Speaker 1: cars are quote up to no good. And I said
Speaker 1: over and over again, there are many rivers that feed
Speaker 1: the sea of violence, with damn in each river and
Speaker 1: paper place. To some you'll say, well, what does that
Speaker 1: have to do with damn in the River. It damns
Speaker 1: the river of people using their vehicles for illegal behavior.
Speaker 1: Mayor Adams says the law is coming after anyone who
Speaker 1: tries to make their car untraceable. Rudy Giuliani, Senator Lindsey Graham,
Speaker 1: and five others have been called to testify before a
Speaker 1: special grand jury in Atlanta. According to court filings. It's
Speaker 1: part of an investigation into alleged attempts by former President
Speaker 1: Trump and his supporters to change the result of the
Speaker 1: election in Georgia. Global News twenty four hours a day
Speaker 1: on it Or and on Bloomberg Quicktake, powered by more
Speaker 1: than twenty seven hundred journalists and analysts more than a
Speaker 1: d twenty countries. Michael Barr and this is Bloomberg. John,
Speaker 1: all right, Michael, thank you, And it's now six ten
Speaker 1: Wall Street. That's time to the Bloomberg Sports Update. Here's
Speaker 1: Scott Sedenburg. Thanks John. Max Scherzer returned from the I
Speaker 1: L and was absolutely dominant. Season high eleven strikeouts and
Speaker 1: six shutout and he's allowing just two hits and that's however,
Speaker 1: could not muster up any offense. And the news in
Speaker 1: the bottom of the ninth to the Reds wanted nothing here,
Speaker 1: were sheerser on his outing m no issues whatsoever today
Speaker 1: all the way through, and they were tightening up on me.
Speaker 1: So that's that's good thing. David Peterson gets the start tonight.
Speaker 1: The Yankees New Wild felt at the Pirates five to
Speaker 1: Jamison Tyon's returned to Pittsburgh was spoiled early when he
Speaker 1: allowed a Dan Vogel back home run in the second
Speaker 1: and then a two run shot the rookie Jackson Winsky
Speaker 1: in the fourth. It was the first loss for Tayland
Speaker 1: since April eleven. The Yankees losing back to back games
Speaker 1: for just the fifth time this season, will be SEVENO
Speaker 1: will start tonight. Tennis at Wimill didn't. Novak Djokovic rally
Speaker 1: from two sets down to defeat Yonic Center and advanced
Speaker 1: to the semi finals. Wrapping on the Dall Bass American
Speaker 1: Tailor Frits in today's quarter final. I'm Scott Seginberg with
Speaker 1: Bloomberg Sports. John all right, thanks Scott, and ahead of
Speaker 1: the cash Open on Wall Street. Futures right now pretty
Speaker 1: much unchanged. DAL futures just four points lower, SMPE many
Speaker 1: futures down the point. The Nasdack futures they are seven
Speaker 1: points lower. With all the turmoil happening in the UK
Speaker 1: on the political front, Pound sterling down about a tenth
Speaker 1: of a percent at one nineteen thirty two. And as
Speaker 1: we look at treasuries right now, there is this inversion
Speaker 1: in the twos and tens, the two year above the
Speaker 1: ten year right now to eighty four the tenure yield
Speaker 1: at two point eight one percent. And as we look
Speaker 1: at Komas Gold that is at seventeen sixty ounce down
Speaker 1: three dollars. You're listening to Bloomberg dbread Bloomberg Weather from
Speaker 1: Gary Bess. Sunshine today to ninety tonight, increasing cloud slow
Speaker 1: about seventy Tomorrow's ammock most Lake cloudy, could see some
Speaker 1: showers in the afternoon, behid tomorrow to eight markets headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot Com, the Bloomberg Business at and at Bloomberg Quicktape.
Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow.
Speaker 1: This update brought to you by Informatica and the cloud
Speaker 1: of your data has the power to do the extraordinary.
Speaker 1: Managed data across any location in the cloud for accurate
Speaker 1: and actionable insights. More at Informatica dot com US dot
Speaker 1: indise futures are a little change this morning. I'm a
Speaker 1: concern over a global economic slowdown. Who checked the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg Right now,
Speaker 1: the jacks in Germany is higher up one point four percent.
Speaker 1: Ten year Treasury down three thirty seconds, yield two point
Speaker 1: eight one percent, yield on the two year two point
Speaker 1: eight four percent. Ninemex scrude oil is up tenth of
Speaker 1: upper cent or fourteen cents, and ninety nine sixty four
Speaker 1: cents of barrel co make school down to ten percent
Speaker 1: or three dollars ten cents at seventeen sixty eight announce
Speaker 1: The Euro one point two two zero against the dollar,
Speaker 1: British pound one point one seven, and the one thirty
Speaker 1: five point three three bitcoin is lower down one point
Speaker 1: six percent at twenty thousand, one hundred nine dollars. And
Speaker 1: that's a Bloomberg business flashdown. Here's Michael bar with more
Speaker 1: on what's going on around the world. Michael Karen, thank
Speaker 1: you very much. At least seven people are now dead
Speaker 1: after Monday's match shooting at the Chicago area of Fourth
Speaker 1: of July Parade, with over two dozen others hospitalized. The
Speaker 1: suspect now faces seven charges of first degree murder. Former
Speaker 1: Trump attorney Rudy Giuliani, Senator Lindsey Graham, and five others
Speaker 1: have been called to testify before a special grand jury
Speaker 1: in Atlanta. It is part of an investigation into alleged
Speaker 1: attempts by former President Donald Trump and his supporters to
Speaker 1: change the results of the election in Georgia. In baseball,
Speaker 1: the Yankees and Mets lost. The Nationals, Red Sox and
Speaker 1: Giants also lost. The Orioles and A's one Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven under journalists, and then
Speaker 1: list to more than twenty countries. I'm Michael Barr and
Speaker 1: this is Bloomberg John Michael, thank you. It is six
Speaker 1: nineteen out of Wall Street. We are live from the
Speaker 1: Bloomberg Interrantbroker Studios. This is Bloomberg day Break. Boris Johnson
Speaker 1: appears to be hanging by a thread this morning after
Speaker 1: the British Prime Minister suffered several high profile resignations in
Speaker 1: his government, and Bloomberg's Lizzie Burden is outside number ten
Speaker 1: Downing Street, this morning with the tails Lizzie Yes, john
Speaker 1: on the cover of the u K new tapers this morning.
Speaker 1: You've got them just describing his situation is on the
Speaker 1: brink and another refers to him as de greased piglet
Speaker 1: remember that Monika, that he manages to vide these situations,
Speaker 1: but the historically put his predecessors, putting his predecessors, and
Speaker 1: there's so much pressure that they resigned. Well, it doesn't
Speaker 1: look likely that he will do that. Last night his
Speaker 1: Health Secretary Sager Javid, who was also a former Chancellor,
Speaker 1: and the Chancellor Rishie Cunach quit. They said they couldn't
Speaker 1: handle having to stand up in public and defend his
Speaker 1: handling of the Chris Pincher affair. This MP, who was
Speaker 1: alleged to have been involved in sexual misconduct but was
Speaker 1: then rehired into the government as Deputy Chief Whip. Both
Speaker 1: of their resignation letters going hard with the venomous language
Speaker 1: about Johnson's integrity. And yet overnight we've had even more
Speaker 1: junior resignation nations, even into the past few minutes. So
Speaker 1: our reporter Alex Wickham is this morning rob wating that
Speaker 1: Johnson's on regular for signs of a coordinated clot from
Speaker 1: his ministers to bring him down, because if six or
Speaker 1: eight of the cabinet quit, it would leave him struggling
Speaker 1: even to form a cabinet. The resignations, are they an
Speaker 1: act of conscience or are these people after his job?
Speaker 1: Well basis started. David and Richie Senac have I thought
Speaker 1: to have leadership ambitions chi David has stood before, and
Speaker 1: they're going to be even more dangerous. If they're on
Speaker 1: the back benches, they'll be able to more easily organize
Speaker 1: other MPs around them. Richie Senac, in his resignation letter,
Speaker 1: said that he accepted this maybe his last ministerial position,
Speaker 1: but you know, well perhaps he'll have a position in
Speaker 1: his own government. Who knows. But it wasn't all about
Speaker 1: this Pestminster as it's called scandal for Richie Sunac. It
Speaker 1: was also about Johnson's handling of the post COVID economic recovery.
Speaker 1: He has said that he had to take difficult decisions.
Speaker 1: If something is too good to be true, it probably is.
Speaker 1: He said his approach was fundamentally different from Johnson on
Speaker 1: the economy, so clearly he couldn't get on board with
Speaker 1: the fiscal boosterism that Johnson. Johnson wanted of him explain
Speaker 1: to us what the Prime Minister faces now with the
Speaker 1: there's a que and where there's a question session in Parliament,
Speaker 1: and explain to us also what the Liaison Committee is. Yes,
Speaker 1: so first of all, we'll have Prime Minister's Questions weekly
Speaker 1: session where Johnson's first of all grilled by the Leader
Speaker 1: of the Opposition, Keir Starmer, and then other MPs in
Speaker 1: the chamber. But in previous week's Keir Starmer seems to
Speaker 1: have missed an open goal, so because too much on
Speaker 1: policy rather than personality when Boris Johnson's been at his weakest,
Speaker 1: then Johnson's paces more question students from the Liaison Committee.
Speaker 1: That's the heads of all the parliamentary select committees. So
Speaker 1: he'll be getting questions from all different angles and it
Speaker 1: will be a very tough crowd to please. Bloomberg's Lizzie
Speaker 1: Burden outside Number ten, Downing Street, covering the latest on
Speaker 1: Boris Johnson's government in turmoil. Lizzie, thanks a lot. We're
Speaker 1: gonna continue to update the story as it develops throughout
Speaker 1: the day right here on Bloomberg Radio. So now let's
Speaker 1: turn to the markets, where concern continues to swirl over
Speaker 1: a possible global economic slow down. Also get Fed minutes today,
Speaker 1: let's get you set up for the trading day head
Speaker 1: now joining us Lizzie Saunders, chief investment strategist at Charles Schwab.
Speaker 1: What a pleasure. Um, we do this as let's see
Speaker 1: nimex Crude Lauzanne below one the two years and the
Speaker 1: ten year treasuries inverted to eighty three to eighty one.
Speaker 1: So the question to you inflation taking a back seat
Speaker 1: now to recession fears and markets, Well, I think it's
Speaker 1: a combination, and regardless of where there is, ultimately will
Speaker 1: be declared an official recession. I mean, the growth slow
Speaker 1: down is very obvious, so I'm not sure that semantics
Speaker 1: around what we call this matters all that much. And
Speaker 1: I do think that whether it's specifically the reason for
Speaker 1: the reversal yesterday, the idea that slower growth is one
Speaker 1: of the best sort of cures for the inflation problems.
Speaker 1: So this notion that a recession or a slowdown is
Speaker 1: kind of a feature, uh, not a bug, of what
Speaker 1: the FED is trying to accomplish here with bringing demand
Speaker 1: down and in turn inflation down. And you're seeing it
Speaker 1: in a lot of the of the forward looking data,
Speaker 1: So does the trajectory for the policy makers does that
Speaker 1: now change? So that that's that's an interesting question. So
Speaker 1: you know, embedded and Expectations is still a seventy five
Speaker 1: basis point hike this month, But I wouldn't be surprised
Speaker 1: if maybe there was more softening of the language for
Speaker 1: the outlook into the September meeting, assuming we don't see
Speaker 1: a pickup and growth um So it does look like
Speaker 1: SEV is still on the table for July, but maybe
Speaker 1: some of the aggressive assumptions into September and the remainder
Speaker 1: of the year start to be tempered by ritual the
Speaker 1: slowdown we're in the midst of. I know I can
Speaker 1: split here is on definitions, but and discover undervalued companies
Speaker 1: that may have greater growth potential. Try ib k R
Speaker 1: Global Analyst today, Yet I b k R dot com
Speaker 1: slash g A. First, we turned back to British Prime
Speaker 1: Minister Boris Johnson and his political future hanging by us thread.
Speaker 1: Bloomberg's Lizzie Burden joins us and once again from outside
Speaker 1: ten Downing Street, Boris Johnson is hanging by a thread. Hit.
Speaker 1: It started off with that surprise Stone public apology his
Speaker 1: handling of the Chris Pincher affair, but it was followed
Speaker 1: quickly by the resignation of his Health Secretary Saja Javit
Speaker 1: and then his Chancellor Rishi Sunach. Then it was followed
Speaker 1: by the resignation of the Attorney General and a string
Speaker 1: of junior ministers, suggesting perhaps that the tide has now
Speaker 1: turned on Boris Johnson and Bloomberg's Lizzie Burden says Johnson
Speaker 1: will face questions in the House that Commons today and
Speaker 1: also appear before a Parliamentary committee and bank here At
Speaker 1: the US futures, coming off of late day rally, the
Speaker 1: SMP five hundred was down more than two percent at
Speaker 1: one point yesterday before ending the day higher. Sylvia Jablonsky
Speaker 1: is chief investment officer at Definance CTMs and says markets
Speaker 1: already are pricing in a recession. The market has done
Speaker 1: a lot of work, and if you think about recessions
Speaker 1: to come, a lot of that is froth taken off
Speaker 1: the market before we sort of hit that point. So
Speaker 1: I do think that we're seeing sort of hope that
Speaker 1: we're nearing some bottoms here. That doesn't mean that We
Speaker 1: can't go lower a little bit, but I think we're
Speaker 1: more than halfway there. Sylvia Jablonsky Definance CTM says markets
Speaker 1: have done a lot of the Fed's work and rate
Speaker 1: hikes could become less aggressive from here. Well. Turning to oil, John,
Speaker 1: it's recovering some of yesterday's eight percent sell off right now.
Speaker 1: Crude is higher and I'm next screw it up for
Speaker 1: a ten percent and ninety nine doo cents a barrel,
Speaker 1: and Brent up one point one percent at a hundred
Speaker 1: three dollars ninety four cents and a sad note to
Speaker 1: pass along. Mohammed Barkendo, the Secretary General of OPEC, has
Speaker 1: died in his native country of Nigeria. He was sixty.
Speaker 1: And now the corporate news where Amazon is on the
Speaker 1: acquisition trail this morning and Bloomberg's re need a young
Speaker 1: Joints is live with more We need a good morning,
Speaker 1: Good morning John. Amazon will get options for a two
Speaker 1: percent steaking group up and could increase that holding to Amazon.
Speaker 1: Steak will be in the form of warrants they'll vest
Speaker 1: depending on how well the partnership performs and how many
Speaker 1: new customers come as a result. The deal also gives
Speaker 1: Amazon Prime members in the US access to grub ub
Speaker 1: for one year. Shares for parent company just Eat rows
Speaker 1: as much as sixtent in Amsterdam today, the stocks falling
Speaker 1: close to seventy percent this year. Live in New York,
Speaker 1: I'm really need a young Bloomberg day break. I really
Speaker 1: need to thank you. That's the five things that you
Speaker 1: need to notice. Start here day brought to you by
Speaker 1: Interactive Brokers and Futures. This morning they have been fluctuating.
Speaker 1: SMP futures are now higher, up about four points. Now
Speaker 1: futures also higher, up thirty six and as day Future
Speaker 1: is up ten. The docks in Germany is up one
Speaker 1: point seven percent. Ten year treasury down four thirty seconds
Speaker 1: two point two percent. They yield on the two year
Speaker 1: two point eight four percent. NIMEX screwed oil again up
Speaker 1: four ten percent at ninety ninety cents. A barrel and
Speaker 1: a straight ahead your latest local headlines plus a check
Speaker 1: of sports. This is Bloomberg. Thanks Karen six thirty three
Speaker 1: on Wolfsbury. Time to bring in Michael barn and tell
Speaker 1: us what else is going on to New York hand
Speaker 1: around the world. Yeah, and thank you very much. They're
Speaker 1: the man accused of opening fire and an Independence Day
Speaker 1: parade in suburban Chicago is charged now with seven counts
Speaker 1: of murder. Lake County State's Attorney Eric Reinhardt says that
Speaker 1: Robert Crimo could receive a mandatory life sentence without the
Speaker 1: possibility of parole. We anticipate dozens of more charges centering
Speaker 1: around each of the victims, psychological victims, physical victims, attempts,
Speaker 1: murder charges, aggravated discharge charges, aggravated battery charges. State Attorney
Speaker 1: Reinhardt says that Creamo allegedly sprayed more than seventy rounds
Speaker 1: from a rooftop into a crowd in Highland Park. New
Speaker 1: Jersey Governor Phil Murphy signed a package of bills touted
Speaker 1: to increase gun safety. Murphy signed seven bills and promised
Speaker 1: more action. We believe, or I should say no, We
Speaker 1: know that we could take on the epidemic of gun
Speaker 1: violence and win. The new laws include mandatory training prior
Speaker 1: to gun purchases, and, according to Governor Murphy, tracking emmal snials.
Speaker 1: New York City officials have announced plans to track down
Speaker 1: on so called ghost cars. The New York Mayor Eric
Speaker 1: Adam says that their vehicles with illegal face paper license plates.
Speaker 1: When you see people using these paper plates, many times
Speaker 1: they are doing something illegal. Mayor Adams says the cars
Speaker 1: would be towed and could potentially be auctioned off. Construction
Speaker 1: of a New Hudson River rail tunnel connecting New York
Speaker 1: City and New Jersey took another step forward in the
Speaker 1: planning phase. Both New York Governor Kathy Hokel and New
Speaker 1: Jersey Governor Murphy announced memorandum of understanding with the Port
Speaker 1: Authority on financing terms for the twelve point three billion
Speaker 1: dollar Gateway tunnel and the one point six billion dollar
Speaker 1: Portal Bridge replacement. Seven Trump allies have now been scipoena
Speaker 1: and the Georgia Criminal Investigation of election interference. Bloomberg's Sad
Speaker 1: Baxter reports these are grand jury summons and the names
Speaker 1: include Rudy Juliani, Lindsey Graham, and John Eastman. The move
Speaker 1: underscores the breadth of the investigation being conducted by the
Speaker 1: District Attorney of Fulton County, which is a suburb of Atlanta.
Speaker 1: She's weighing a range of charges, including racketeering and conspiracy.
Speaker 1: This is the closest a criminal investigation has gotten to
Speaker 1: Trump's inner circle. Now, the sapoenas do not automatically mean
Speaker 1: that those involved are a target of any investigation. In
Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quickday,
Speaker 1: powered by more than twenty seven hundred journalists analysts more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg, John, Michael,
Speaker 1: thank you, And it's now six thirty six on Wall Street.
Speaker 1: That's time for the Bloomberg Sports Update. Here's Scott Seidenberg.
Speaker 1: Good morning, John. For just a fifth time this season,
Speaker 1: the Yankees have lost consecutive games, falling to the Pirates
Speaker 1: in Pittsburgh last night five to two, spoiling Jamison Tyne's
Speaker 1: return to his former team. Toyon allowed five runs on
Speaker 1: six hits in five and a third innings, picking up
Speaker 1: his first loss since April eleven. Here was Aaron Judge
Speaker 1: after the game. And now they made it a couple
Speaker 1: of times in double plays. Um, you couldn't really get
Speaker 1: that big hit to kind of get the moment. I'm
Speaker 1: going on our side. They kind of get there wrong.
Speaker 1: You know. They started off with a couple of um
Speaker 1: home runs gonna kind of put us in a deficit,
Speaker 1: but you know, like we've done before, We're worried about
Speaker 1: that and thought we'd come back, but um, they're the
Speaker 1: hold to stand there always till then. Luis Severino will
Speaker 1: get the start tonight. Max Scherzer returned from the i
Speaker 1: L last night. He struck out of season high eleven
Speaker 1: in six shutout innings, allowing just two hits, but the
Speaker 1: Mets would fall to the Reds one nothing in the
Speaker 1: bottom of the ninth inning. David Peterson gets the start tonight.
Speaker 1: Tennant said Wimble didn't know vak Djokovic routing from two
Speaker 1: sets down to defeat Yonick Center and advanced to the
Speaker 1: semi finals. Rapping on the doubt faces American Taylor Fritz
Speaker 1: in today's quarterfinal. I'm Scott Zeidenberg with Bloomberg Sports. John Well,
Speaker 1: thank you, Scott. It is six thirty seven on Wall Street.
Speaker 1: Time to take a look at stocks and some of
Speaker 1: the names that are moving in the pre market for them.
Speaker 1: We're joined by Bloomberg Radio and TV Markets. Corresponded critic
Speaker 1: group to a lot of chip stocks. Is this uh
Speaker 1: China story or you know it's sort of a China story.
Speaker 1: You know. I have to say my job is incredibly
Speaker 1: hard today because features are literally flat. There isn't a
Speaker 1: ton going on in the markets. UM. It kind of
Speaker 1: feels like everyone either has it out for me rise
Speaker 1: to the occasion. I'll try, I'll try. And I think
Speaker 1: chips is the best place to go here because you did,
Speaker 1: of course have that Bloomberg story yesterday. The US is
Speaker 1: pushing the Netherlands savan a s mL. This is a
Speaker 1: Dutch semi conductor equipment maker from selling some of those
Speaker 1: chip making tools to China. And now some context here.
Speaker 1: A s mL is a company that, like I said,
Speaker 1: it makes semi conductor making equipment, kind of like Deer
Speaker 1: for example, makes farming equipment for UM chips and their tractors.
Speaker 1: By the way they do, they do that's a little
Speaker 1: fun fun tied. But but the takeaway here is that
Speaker 1: their technology is very crucial. It's been very it's very
Speaker 1: advanced technology. It's been in the eyesights of a lot
Speaker 1: of other major chip giants, and Video for example, has
Speaker 1: long talked about actually perhaps targeting or purchasing that technology.
Speaker 1: Tie one semiconductor manufacturing company t SMC where the majority
Speaker 1: of the world's chips are made. Anyway, UM has also
Speaker 1: talked about that technology the US is pushing the Netherlands.
Speaker 1: Remember this is a Dutch company to ban a s
Speaker 1: m L from selling some of those tools to China.
Speaker 1: So this is a chip story. But once again, here's
Speaker 1: what it does. It makes those chip makers even more
Speaker 1: attractive in some ways, because the idea here being that
Speaker 1: if you can't get your hands on that technology, especially
Speaker 1: in a part of the world where most of the
Speaker 1: chips are made, that's going to be a big deal.
Speaker 1: So actually you did see some of those stocks higher
Speaker 1: in the pre market, and then you look at some
Speaker 1: of these other chip equipment makers that are competing, for example,
Speaker 1: Applied Materials, which competes with a s m L, A
Speaker 1: M A T, it's down three point seven percent. You
Speaker 1: have a similar story when it comes to the life
Speaker 1: of advanced micro devices. Remember A m D and n
Speaker 1: video do actually UM compete very closely. So when you
Speaker 1: have in video trying to get that technology, m D
Speaker 1: is going to be slightly under pressure, down about one
Speaker 1: tenth of one percent. Intels one we should worth checking
Speaker 1: on as well. I n TC is your taker. It's
Speaker 1: actually unchanged at the moment, but you did see earlier
Speaker 1: in the session it drop about one percent. So once
Speaker 1: again there's a lot of movement in this industry. This
Speaker 1: is the sector I would keep an eye on today.
Speaker 1: Well more than tangential to this is cyber security. What
Speaker 1: is happening on that front. There's a lot happening on
Speaker 1: that front. You know. I feel like tech is once
Speaker 1: again becoming the story. But it's not just your traditional tech.
Speaker 1: It's not your Apple, your Microsoft, your Tesla, it's your
Speaker 1: kind of I want to see like adjacent tech that
Speaker 1: you would think of your semiconductors or cybersecurity, the ones
Speaker 1: that trade in line with big tech. Almost so for cybersecurity,
Speaker 1: the story here is that Morgan Stanley analysts saying they're
Speaker 1: expecting durable security spending environment in the second half of two.
Speaker 1: They're quoting an uncertain macro backdrop. I remember this has
Speaker 1: been a trade that's worked in terms of defense, not
Speaker 1: in terms of Locky Martin et cetera. Also cybersecurity since
Speaker 1: the war in Ukraine broke out. Paula Alto Networks is
Speaker 1: a good example. P A n W down about two
Speaker 1: tents of a percent, and I'll give you one more
Speaker 1: crowd strike c r W d uh it is also
Speaker 1: down two tons of one percent. Thanks Critty, appreciate it. Um.
Speaker 1: Bloomberg Radio TV Markets correspondent Critty Gupta and looking at
Speaker 1: stocks as a whole, as she said, they're flat down,
Speaker 1: futures up nine smp EMNI, futures unchanged and as a
Speaker 1: futures down just too. You're listening to Bloomberg Day Bread
Speaker 1: and just ahead we will go to the nation's capital,
Speaker 1: will look at the breath of charges new subpoenas in
Speaker 1: the Georgia election pro You're listening to Bloomberg block markets
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quick Tape.
Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow. And
Speaker 1: futures have been fluctuating this morning. They are lower once again.
Speaker 1: We go to the first Word breaking news dance for
Speaker 1: today's morning call, and here's Bell Malone A bill, good morning, Hey,
Speaker 1: good morning. Can that's right. Modest losses in the futures
Speaker 1: right now at death Futures down twenty nine point samees
Speaker 1: drop five and as that futures declined by seventeen the
Speaker 1: US ten year that two point two percent, Gold is
Speaker 1: down four oil is little changed, and bitcoin is down
Speaker 1: by one point seven percent. Asian stocks fell overnight on
Speaker 1: fears of another lockdown in Shanghai, while up markets are
Speaker 1: firmly in the green, lit by gains in the UK
Speaker 1: and France back in the US. On the economic front,
Speaker 1: nine Services and Composite p m ees and at ten
Speaker 1: o'clock the I s M Services Index in Indian news,
Speaker 1: Amazon and take up to a fifteen percent stake in
Speaker 1: a grub pub. In other news, crypto broker Voyage your
Speaker 1: Digital filed four, Chapter eleven and Tiger Global's hedge fund
Speaker 1: Game three point four percent in June, pairing its twenty
Speaker 1: two drop to fifty percent. Wrapping things up, Stay Were
Speaker 1: was raised by a Bank for America, Continal Resources cut
Speaker 1: You set to perform at RBC in vm ware were
Speaker 1: put to market perform, Will grad Ram and James Live
Speaker 1: from the first to breaking news bescon fill maloney care
Speaker 1: all right, Bill, thank you to hear live breaking news
Speaker 1: of your Bloomberg type squawk on your terminal. SCU You
Speaker 1: a w K and that's a Bloomberg Business Flash. Now,
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael Darren, thank you very much. Man in
Speaker 1: charge with seven counts of murder after firing off more
Speaker 1: than seventy rounds at an Independence Day parade in suburban
Speaker 1: Chicago legally bought five weapons. Police say that includes the
Speaker 1: high powered rifle used in the shooting. Two senior members
Speaker 1: of UK Prime Minister Boris Johnson's cabinet quit late last night.
Speaker 1: The Prime Minister and his team embraced for more potential
Speaker 1: cabinet resignations this morning, after ten Tory MP's quit government positions,
Speaker 1: including Chancellor Rishi Sunak and Health Secretary said G. Johman.
Speaker 1: In baseball, the Yankees and Mets lost. The Nationals, Red
Speaker 1: Sox and Giants also lost. The Orioles and as One
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than seven hundred
Speaker 1: journalists and analysts more than twenty countries. Michael Barren, this
Speaker 1: is Bloomberg. Karen, all right, Michael, thank you. It is
Speaker 1: sixty nine on Wall Street. We turned to news and
Speaker 1: science and technology now with the Bloomberg n j I
Speaker 1: T STEM Report. It is brought to you by New
Speaker 1: Jersey Institute of Technology and j I T welcomes its
Speaker 1: ninth president, tech Limb Visionary Leader committed to growing nj
Speaker 1: I T S partnerships with industry to bolster student opportunities
Speaker 1: and outcomes. Learn more at nj I T dot E
Speaker 1: d U and here's what's making news and science, technology,
Speaker 1: engineering and math. In China, the COVID zero strategy is
Speaker 1: being tested again a jump and infections across Shanghai is
Speaker 1: raising the prospect of another lockdown. The city reported twenty
Speaker 1: four inspections today, the most in three weeks. Meanwhile, a
Speaker 1: highly infectious variant of the virus has begun spreading in
Speaker 1: China for the first time. The European Parliament is gearing
Speaker 1: up for a controversial vote on whether gas and new
Speaker 1: clear energy can be considered green. Opponents say a yes
Speaker 1: vote would turnish the EU's ambition to set the gold
Speaker 1: standard for green finance. The discussion is heated up since
Speaker 1: the invasion of Ukraine, since the region wants to get
Speaker 1: rid of fossil fuels from Moscow, and Amazon has struck
Speaker 1: a deal to take up to a fifteen percent steak
Speaker 1: in grub Hub. It also will offer its prime users
Speaker 1: in the U S a one year membership to the
Speaker 1: food delivery service. Grubhub is owned by the Dutch company
Speaker 1: Just Eat Takeaway, which announced plans to find an investor
Speaker 1: or bidder for the US business in April. And as
Speaker 1: a Bloomberg and j I t Stem report, John all right,
Speaker 1: thanks Karen. We are lying for the Bloomberg Interantibroker Studios
Speaker 1: where it is six fifty wood on Wall Street time
Speaker 1: now to check what's going on in the nation's capital.
Speaker 1: Some of our top stories Giuliani Graham five other subpoena,
Speaker 1: the in the Georgia probe, blink In plans, candidate exchange
Speaker 1: with China, the war in Ukraine, China calls US pressure
Speaker 1: on chipmakers, technological terrorism, and miss Parent's still birth prosecutions
Speaker 1: await women post Row. Let's take a deeper dive he
Speaker 1: into some of these stories this morning, with Bloomberg government
Speaker 1: reporter Emilee Wilkins joining us from the nation's capital. Emily,
Speaker 1: good morning to you. Uh. New subpoenas and that Georgia
Speaker 1: election probe. Give us an idea the breadth of charges
Speaker 1: and who's involved? Yeah, so this is a probe that
Speaker 1: is really going into Trump's efforts to overturn the election.
Speaker 1: In if you'll remember, there was that phone call that
Speaker 1: really made headlines about Trump UH decently calling up election
Speaker 1: officials and asking them to find more ballots, to find
Speaker 1: more votes. And so there's a group that's been looking
Speaker 1: into this. UM. They've reached out to Rudy Giuliani, Senator
Speaker 1: Lindsay Graham, four of Trump's lawyers, as well as a
Speaker 1: podcaster who supported Trump's efforts to change the outcome of election,
Speaker 1: and have asked them to testify UM the Grand UH
Speaker 1: At this point. UH. Rudy Giuliani's attorney says that he
Speaker 1: has not been served with a subpoena at this point, UM.
Speaker 1: And it'll be interesting to see what sort of cooperation
Speaker 1: Giulianti and Linda Graham wind up giving to this particular investigation. This,
Speaker 1: of course, is separate from, UH the two other major
Speaker 1: investigations that are going on. Number One, the January six
Speaker 1: panel in the House that's been holding these public hearings
Speaker 1: and is going to be holding more next week, as
Speaker 1: well as the Department of Justice investigation into what happened
Speaker 1: on January six. Yeah, essentially bring up the January six investigation.
Speaker 1: What's their connection to criminal charge? They can't bring criminal charges,
Speaker 1: but what they can recommend to the Justice Department. Where
Speaker 1: does all nets stand? Yes, you're absolutely right, John, The
Speaker 1: January six Committee cannot bring criminal charges, but they can
Speaker 1: present evidence and they could potentially make recommendations. And there
Speaker 1: has actually been some debate among the lawmakers on the
Speaker 1: January six Committee as well as whether they should be
Speaker 1: recommend in specific charges when they should do that. I mean, remember,
Speaker 1: we're having these public hearings now, but the committee has
Speaker 1: stressed multiple times that its work is not done, that
Speaker 1: it's still ongoing, that these public hearings have led to
Speaker 1: more individuals coming forward. The committee is expected to release
Speaker 1: a report um in either July August September, coming up
Speaker 1: here before the election um. And so at that point
Speaker 1: we would expect if the Justice Department was going to
Speaker 1: sort of take something from the committee, it would be
Speaker 1: what would be compiled in that report and see if
Speaker 1: they could use it then further their own investigation. All right,
Speaker 1: let's move to the next story. The Secretary of State
Speaker 1: Planning and Exchange with China on the war in Ukraine
Speaker 1: and as we know, China's sort of come down on
Speaker 1: the side of Russia in this war, right, Yeah, and
Speaker 1: Li Lincoln is the China's you know, they walked this
Speaker 1: interesting line where they've said that they, you know, that
Speaker 1: their friendship has no limits with Russia. UM. But at
Speaker 1: this time they haven't yet really crossed some of the
Speaker 1: lines that the US has set down as far as
Speaker 1: saying that, hey, we will be sanctioning other countries that
Speaker 1: try to help Russia. UM. And so this is just
Speaker 1: another conversation, I mean, obviously a very important conversation given
Speaker 1: the high level of diplomats involved. UM. Just trying for
Speaker 1: the US and China to to touch base and to
Speaker 1: discuss where China is at in terms of Russia and Ukraine.
Speaker 1: This will be happening at the upcoming G twenty meeting
Speaker 1: in Indonesia. UM And while Secretary of State Anthony Lincoln
Speaker 1: will be meeting with his Chinese counterpart, he will not
Speaker 1: be meeting with his Russia counterpart, who's also expected to
Speaker 1: be at the meeting. UM divided an administration uh AT
Speaker 1: State Department spokesman At Price said on Tuesday that the
Speaker 1: two aren't expected to meet because the U S would
Speaker 1: only do so if Russia has shown that is interested
Speaker 1: in a diplomatic solution with the Ukrainian conflicts, and at
Speaker 1: this point that hasn't happened. And if you need a
Speaker 1: reminder about the existing tensions between China and the you ask,
Speaker 1: you can look at this next story, UM, accusing the
Speaker 1: US of technological terrorism. What's this about? Yeah, so the
Speaker 1: US right now is lobbying in other countries to stop
Speaker 1: selling technology that's needed for making chips to China, and
Speaker 1: so China, Uh, you know, the US is obviously trying
Speaker 1: to put some limits on China's ability to produce these chips. UM.
Speaker 1: Right now, the US in Congress is trying to actually
Speaker 1: pass more than fifty billion dollars of funding to try
Speaker 1: and have the U s start making more chips. UM.
Speaker 1: And so this is obviously something that UM, you know,
Speaker 1: it's it's not look favorably on in Beijing. UM that
Speaker 1: their concerns. UM that officials have spoken about publicly saying
Speaker 1: that this is just another example of the US practicing
Speaker 1: coercive diplomacy, abusing state power. UM. Of course, it's yet
Speaker 1: to be seen at this point exactly what is going
Speaker 1: to happen, Whether some of these allies like the Netherlands
Speaker 1: are going to agree to stop selling some of these
Speaker 1: technologies to China. UM. But this is something that the
Speaker 1: US and Bloomberg has reported that the US has maybe
Speaker 1: asked um and kind of speaks to both attentions with
Speaker 1: China as well as some of the supply chains concerns
Speaker 1: that the US currently has and m always a pleasure
Speaker 1: appreciated Bloomberg's family Wilkins. You can read more about these
Speaker 1: stories on Bloomberg dot com with the Bloomberg terminal and
Speaker 1: a reminder, you can follow all the latest on Bloomberg
Speaker 1: Radio and watching at Bloomberg at one oh five point
Speaker 1: seven FM HD two. Well, you may have noticed that
Speaker 1: the gas pump getting a little cheaper to fill up
Speaker 1: these days as we look at the crude oil IMEX
Speaker 1: crude under one dollars of barrel and ahead of the
Speaker 1: cashow up on Wall Street DAL futures right now thirty
Speaker 1: seven points slower, sort of the in and out of
Speaker 1: gains all morning long and treading a bit of water
Speaker 1: at one point down a tenth of her percent right
Speaker 1: now for the Dow futures SMP future six points lower.
Speaker 1: Has done about two tenths of a percent, and the
Speaker 1: tech have a NASDAC emitting futures right now twenty four
Speaker 1: points lower, that is down two tenths of a percent.
Speaker 1: In London, with all the turmoil surrounding British Prime Minister
Speaker 1: Boris Johnson, the foot see one hundred up right now
Speaker 1: one hundred twenty points arise at one point seven percent.
Speaker 1: And looking to treasuries this morning, we see this inversion
Speaker 1: in the yield curve between twos and tens. The two
Speaker 1: year yield above the ten year at two point eight
Speaker 1: three percent, a ten year yield two point eight one
Speaker 1: percent this morning, and just ahead Bloomberg Surveillance. You've been
Speaker 1: listening to Bloomberg Daybreak for Karen Moscow. I'm John Tucker,
Speaker 1: and this is Bloomberg