Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager.
Speaker 1: And I'm Karen Moscow. Here are the stories we're following today.
Speaker 3: Karon, we begin with tensions in the Middle East. US
Speaker 3: officials say Israel has launched a retaliatory strike on Iran,
Speaker 3: less than a week after Tehran's rocket and drone barrage.
Speaker 3: Bloomberg News Middle East Breaking News editor Dana Krasch has
Speaker 3: the latest on what we know so far.
Speaker 4: Reports trickled in in the early hours of the morning
Speaker 4: of a blast over Isfahan, where we know there are
Speaker 4: military sites and nuclear infrastructure, so the blasts are likely
Speaker 4: the result of what Iranian media is saying is defense
Speaker 4: systems activated to intercept what has now we know our drones.
Speaker 4: We also had a report out that the nuclear site
Speaker 4: there is completely safe, and that's of course reassuring, as
Speaker 4: Iran and Israel are arch rivals, but they also have nuclear.
Speaker 3: Pro Bloomberg's Danikrace says Iranian state media are downplaying the attack.
Speaker 3: Reuter's sites in Iranian officials saying there was no missile
Speaker 3: strike and that Iran is not planning a response at
Speaker 3: this time.
Speaker 1: Well, Nathan Markets remain on edge on these Middle East tensions.
Speaker 1: City Group Global Chief Economist Nathan Sheet says investors tend
Speaker 1: to overreact to events initially before settling down.
Speaker 5: I think at the moment, the market's telling us that
Speaker 5: the balance of risks here looks to be reasonably favorable
Speaker 5: and the response in the oil market has been contained,
Speaker 5: And if that's the correct assessment, then I think the
Speaker 5: broader implications of this are it doesn't escalate, and we're
Speaker 5: able to continue on more or less in the status quo.
Speaker 1: City Group Global Chief Economist Nathan Sheets, speaking to us
Speaker 1: earlier on Bloomberg and checking oil right now, NIMEC screwed
Speaker 1: up sixtensive percent at eighty three dollars twenty one cents
Speaker 1: a barrel, while Brent is at eighty seven thirty six cents.
Speaker 3: And caring these tensions could give even more of a
Speaker 3: push to long stalled aid for Israel, Ukraine and Taiwan.
Speaker 3: On Capitol Hill, Bloomberg's Ed Baxter reports that package is
Speaker 3: on track for votes this weekend.
Speaker 6: House Speaker Mike Johnson says he expects to bring up
Speaker 6: split Ukraine, Israel Taiwan aid bills tomorrow. The chair of
Speaker 6: the House Intelligence Committee Mike Turner on Bloomberg's Balance of Power,
Speaker 6: says he thinks it is essential to get aid going
Speaker 6: to Ukraine this week.
Speaker 7: They running out of ammunition. Russia is certainly surging and
Speaker 7: putting additional pressure on the front line, and also the
Speaker 7: lack of US support is impacting morale even in Ukraine.
Speaker 6: House Minority Leader Hakim Jeffrey says Democrats are going to
Speaker 6: do what's necessary to get this across the finish line.
Speaker 6: The Senate looks to move next week. Ad Baxter, Bloomberg Radio.
Speaker 1: All right, ed, thanks now to the latest in a
Speaker 1: criminal case against Donald Trump. The jury has been seated
Speaker 1: in Manhattan and Bloomberg's doing Groscer reports from New.
Speaker 8: York jurors and one alternate juror have been sworn in
Speaker 8: in Trump's hush money trial. The jury of manhattanites includes
Speaker 8: a sales professional, a software engineer, a security engineer, a teacher,
Speaker 8: a speech therapist, an investment banker, a retired wealth manager,
Speaker 8: and several lawyers the trial. Judd says he hopes to
Speaker 8: have jury selection wrapped up today and opening statements on Monday.
Speaker 6: In New York.
Speaker 8: June Grosso Boomberg Radio.
Speaker 9: Okay, June.
Speaker 3: Thank you. Now, we want to turn back to markets.
Speaker 3: We're watching shares of Netflix this morning. They are down
Speaker 3: more than six percent in early trading. Subscriber growth for
Speaker 3: the streaming giant did surpass estimates, but the company says
Speaker 3: those gains will be lower this period. Bloombergs Lucas Shaw
Speaker 3: is in Los Angeles. He says optimism for Netflix's first
Speaker 3: quarter had soared in recent days.
Speaker 10: Expectations for this company were really high. I mean, you
Speaker 10: saw a lot of analysts publishing optimistic notes leading up
Speaker 10: to it. The stock has been on a tear over
Speaker 10: the last few months, and so I think there's almost
Speaker 10: no way that it was going to live up to that.
Speaker 10: You know, you see the results that it basically doubled
Speaker 10: the subscriber estimates.
Speaker 11: That's pretty strong.
Speaker 10: So I'd say one is just expectations and the other
Speaker 10: is maybe that there was some sensitivity around the forecast.
Speaker 10: You know, the revenue forecast is actually pretty strong. It's
Speaker 10: going to grow faster than it did in the first quarter,
Speaker 10: but it's said its subscriber growth would tick down a
Speaker 10: bit in the second quarter.
Speaker 3: Bloomberg's Lucas Shaw says Netflix will stop reporting paid quarterly
Speaker 3: membership and revenue per subscribers starting with the first quarter
Speaker 3: of twenty twenty five.
Speaker 11: Well, Nathan.
Speaker 1: The pushback continues from Fed officials on cutting rates too soon.
Speaker 1: New York Fed President John Williams says economic data will
Speaker 1: determine the timing. He was asked about the possibility of
Speaker 1: raising rates.
Speaker 12: It's not my baseline, my expectation right now. It's you know,
Speaker 12: interest rates are in a good place, and eventually at
Speaker 12: some point would want to lower interest rates as the
Speaker 12: economy really gets to the two percent inflation that we're
Speaker 12: headed towards. If the data are telling us that we
Speaker 12: would need higher interest rates to achieve our goals, then
Speaker 12: we would we would obviously.
Speaker 9: Want to do that.
Speaker 1: New York Fed President John Williams comments, We're echoed by
Speaker 1: other Fed officials. Atlanta FED President Raphael Bostak says he's
Speaker 1: comfortable keeping rates. Study Minneapolis president Neil Kashkari told Fox
Speaker 1: that Fed could keep rates where they are all year.
Speaker 3: Karen, let's turn back to some corporate news now. Paramount
Speaker 3: Global could be getting a new buy outlook from Sony
Speaker 3: and Apollo Global Management. We get more on that from
Speaker 3: Bloomberg's Doug Prisner.
Speaker 13: We're told in the last week, the head of Sony
Speaker 13: Pictures Entertainment, Tony Vince Aquera, held talks with Apollo about
Speaker 13: teaming up on a bid. The New York Times says
Speaker 13: the group would offer cash for shares in Paramount, taking
Speaker 13: the company private through a joint venture. Now Sony and
Speaker 13: Apollo have not submitted an official offer. Paramount is controlled
Speaker 13: by Sherry Redstone through a family business called National Amusements,
Speaker 13: and at present, Paramount is an exclusive merger talks with
Speaker 13: Skydance Media and Independent. Members of Paramount's board are weighing
Speaker 13: the sky Dance proposal. In New York, I'm Doug Prisoner,
Speaker 13: Bloomberg Radio.
Speaker 3: All right, Doug, Thanks, and shares of Paramount Global are
Speaker 3: hired by more than ten and a half percent in
Speaker 3: early trading well.
Speaker 1: Apple has removed some social media services from its Chinese
Speaker 1: app store Nathan, including Metas, WhatsApp and threads thous, in
Speaker 1: response to orders from Beijing to close more loopholes in
Speaker 1: the country's long standing Internet firewall. Apple has consistently complied
Speaker 1: with one of the world's most rigid internet censorship regimes.
Speaker 1: It says the Cyberspace Administration of China order the apps
Speaker 1: removed over national security concerns. And it's time now for
Speaker 1: a look at some of the other stories making news
Speaker 1: in New York and around the world. And for that
Speaker 1: we're joined by Bloomberg's John Tucker. John Good Morning, Good Morning, Karen.
Speaker 14: New York City police have removed a pro Palestinian protest
Speaker 14: encampment at Columbia University, arresting more than one hundred demonstrators
Speaker 14: in the process. Mayor Adams says the city was asked
Speaker 14: in writing by university officials to remove the encampment.
Speaker 15: Klun University's students have a proud history of protests in
Speaker 15: raising their voices. Students have a right to free speech,
Speaker 15: but do not have a right to violate Universe city
Speaker 15: policies and disrupt learning on campus.
Speaker 14: The students have been protesting since early Wednesday opposing Israeli
Speaker 14: military action in Ganza. The Biden administration today finalizing a
Speaker 14: plant to prevent oil development across more than half the
Speaker 14: US government's Mammoth Petroleum Reserve in Alaska. The story from
Speaker 14: Washington and Bloomberg Steve Hotisk.
Speaker 16: This move is among a string of actions by President
Speaker 16: Biden to kurktailed development on federal lands and wall off
Speaker 16: more than forty one million acres for conservation. It comes
Speaker 16: as Biden seeks to gain support from young climate minded
Speaker 16: voters after disappointing some last year by authorizing Conneco Phillips
Speaker 16: massive Willow oil project. The administration is also moving to
Speaker 16: block road construction essential to opening a copper mine in
Speaker 16: the state. The moves have drawn condemnation from oil, gas
Speaker 16: and mining interests, who said the Biden administration is locking
Speaker 16: up resources essential for fueling America's energy needs today and
Speaker 16: in the future. That includes, they say, critical minerals for
Speaker 16: batteries and other technology in Washington. Steve Potisk Bloomberg.
Speaker 14: Radio Ukraine says at least to eight civilians were killed
Speaker 14: more than twenty injured in a strike in the country
Speaker 14: today after Russia launched another barrage, straining the country's dwindling
Speaker 14: air defenses, and San Francisco is the latest US city
Speaker 14: preparing to receive a pair of pandas from China in
Speaker 14: a continuation of Beijing's famed panda diplomacy. San Francisco mayor
Speaker 14: London Breed announcing the pandalona in Beijing this morning global
Speaker 14: news twenty four hours a day, whenever you want it
Speaker 14: with Bloomberg News Now. I'm John Tucker. This is Bloomberg,
Speaker 14: Karen and Nathan.
Speaker 1: All right, John, thank you, and it's time now for
Speaker 1: the Bloomberg Sports Update with Dan Schwartzman.
Speaker 17: Dan, good morning, Good morning, Karen and Nathan. The final
Speaker 17: two NBA playing games are coming up tonight Chicago. He's
Speaker 17: on the road of the Miami Heat tip off his
Speaker 17: seven o'clock PM. Winner of that will face the Boston
Speaker 17: Celtics in Game one on Sunday. Then later on it's
Speaker 17: the Sacramento Kings at the New Orleans Pelicans. The winner
Speaker 17: of that one will go as the eighth seed in
Speaker 17: the Western Conference at faci Oklahmoma City Thunder also on Sunday.
Speaker 17: The New York Knicks get underway on Saturday as they're
Speaker 17: home for the Philadelphia seventy six Ers in game one
Speaker 17: of their Round one matchup. Sixers head coach Nick Nurse
Speaker 17: talking about the Knicks, I think.
Speaker 18: They're for real. I think they're really good. I think
Speaker 18: they're they're fast. I think they can shoot. I think
Speaker 18: they hit the glass. I think they guard you. I
Speaker 18: think they've earned that seed. They've played really well and
Speaker 18: beaten a lot of good teams, so we'll have our
Speaker 18: work to do here in the next couple of days
Speaker 18: to get ready for him.
Speaker 17: That's courtesy of CBS three in Philadelphia. Light schedule in
Speaker 17: Major League Baseball last night, the Yankees were off the
Speaker 17: Giants shutting out the Diamondbacks five nothing at home. It
Speaker 17: was Red Sox losing a family Park to the Guardians
Speaker 17: five to four. Coming up tonight, the Yankees open up
Speaker 17: a weekend series in the Bronx as they host the
Speaker 17: Tampa Bay Rays. That men's opening up the series on
Speaker 17: the road in Los Angeles. Giants are home again for
Speaker 17: the Diamondbacks. The Red Sox are on the road at
Speaker 17: the Pirates. It's the National hosting the Houston Astros, while
Speaker 17: it's the Baltimore Orioles. They are on the road at
Speaker 17: the Kansas City Royals. The NHL Playoffs gets underway on Saturday,
Speaker 17: as the Islanders open Round one on the road at Carolina.
Speaker 17: It's the Boston Bruins their home for Toronto also on Saturday,
Speaker 17: while the New York Rangers, the winners of the President's
Speaker 17: Cup with the best record in the NHL, they open
Speaker 17: up their series versus the Washington Capitals on Sunday at
Speaker 17: Madison Square Garden. Rangers captain Jacob Truba assessing his team.
Speaker 19: Great lineup, great goaltenders front to back. I think we've
Speaker 19: got a deep lineup and just continue to play our game,
Speaker 19: and we've been good at bouncing back with adversity. There's
Speaker 19: going to be at versity as any times we're momentum swings.
Speaker 19: That's the playoffs.
Speaker 17: That's courtesy of Rangers dot Com. That's your Bloomberg Sports Update.
Speaker 17: I'm Dan Schwarzman, Karen and Nathan.
Speaker 1: All Right, Dan, thank you. SMP futures down half percent
Speaker 1: or twenty five points down, futures down four tenths of
Speaker 1: percent or one hundred and fifty seven points. Nasdaq futures
Speaker 1: down three quarters of a percent or one hundred and
Speaker 1: thirty points. In the ten year Treasury yeled four point
Speaker 1: five eight percent.
Speaker 9: Coast to coast on Bloomberg Radio nationwide on Sirius XM,
Speaker 9: and around the world on Bloomberg dot Com and the
Speaker 9: Bloomberg Business app. This is Bloomberg Daybreak. Good morning. I'm
Speaker 9: Nathan Hager.
Speaker 3: Middle East tensions are once again in the foreground with
Speaker 3: US officials saying Israel has launched a retaliatory strike against Iran,
Speaker 3: less than a week after Tehran's barrage of missiles and
Speaker 3: drones into Israeli territory. For the very latest, we are
Speaker 3: joined now by Bloomberg's Europe, Middle East, and Africa news
Speaker 3: director Rosalind Matheson Roz, Good morning. Can you get us
Speaker 3: up to speed on what we know at this point
Speaker 3: about this reported strike?
Speaker 20: Well, as you were saying, what we know is that
Speaker 20: US officials tell us that we did have this retaliatory
Speaker 20: strike where Israel has launched missiles against Iran. Local media
Speaker 20: reports say they were missiles that were five potentially from
Speaker 20: Israeli planes. These were larger areas in Iran, in the
Speaker 20: west and central of Iran. It's a town called a
Speaker 20: city called Isfahan that's located in a ring of air bases,
Speaker 20: military bases, but also some key nuclear facilities for Iran.
Speaker 20: It seems like the nuclear facilities were not targeted, were
Speaker 20: not hit, and are functioning as normal. But what may
Speaker 20: have been targeted was an airbase in the region, and
Speaker 20: that would obviously be about sending that message in responses
Speaker 20: you say to Iran striking Israel about a week ago
Speaker 20: for the first time from Iranian soil, and so we've
Speaker 20: kind of entered this era of tip for tat retaliation
Speaker 20: reprisals against each other. Both of these actions do seem, however,
Speaker 20: to be somewhat calibrated. They didn't target civilian populations and
Speaker 20: they have not targeted, in this case, Iranian's nuclear facilities.
Speaker 20: So the question is is this enough to keep this
Speaker 20: conflict from simmering over Do they both look at each
Speaker 20: other and say this is not enough to set off
Speaker 20: the regional conflict that markets and others have been fearing
Speaker 20: might happen point rise.
Speaker 3: As you mentioned, Israeli media are saying this was a
Speaker 3: missile strike. We're hearing reports from Iranian state media that
Speaker 3: they're calling it a drone attack and that the explosions
Speaker 3: over the third largest city in Iran, Isfahan, were caused
Speaker 3: by Iran's air defenses. What does that say about how
Speaker 3: this could potentially reduce tensions going forward.
Speaker 20: Well, it's interesting you say, Iran seems quite keen, and
Speaker 20: there's a bit of heaterd rhetoric coming from Iran immediately,
Speaker 20: as you can imagine, but also the sense that they
Speaker 20: don't want to overplay this.
Speaker 11: There's certainly in a way downplaying it on their state media.
Speaker 20: On their broadcasting this morning, they're showing footage of Isfahan,
Speaker 20: of their nuclear site, looking business very much as usual,
Speaker 20: traffic moving along and so such, and they're saying there
Speaker 20: was some drone action, but their air defenses were activated,
Speaker 20: whereas Israeli media say this was actually a missile strike
Speaker 20: from Israel.
Speaker 11: But it does point to that thing.
Speaker 20: As you say, even though we've got strong posturing from
Speaker 20: Israel and Iran all of this, and we've got Iran's
Speaker 20: proxies activated in the region and Israel is basically fighting
Speaker 20: those proxies as well, that everyone knows if this does
Speaker 20: bill into a full bare regional conflict that pulls in
Speaker 20: potentially other actors, potentially the US.
Speaker 11: You know, real impact on things.
Speaker 20: Are all supplied globally that we're kind of moving into
Speaker 20: unprecedented territory then, and even Iran knows that that would
Speaker 20: be self defeating.
Speaker 3: And when we have Iran sort of downplaying this and
Speaker 3: reports from some hawkish officials in Israel, like the National
Speaker 3: Security Minister going on x and describing the attack as weak,
Speaker 3: what does that say about how Israel could go forward
Speaker 3: with this, Well, there is.
Speaker 11: That difficulty, and domestically in Israel.
Speaker 20: I mean the Israeli Prime Minister Bena, who basically made
Speaker 20: a bet, he tied his fortunes to the far right
Speaker 20: in Israel to stay in office, and now he's having
Speaker 20: to deal with the implications of that. And even you know,
Speaker 20: in his war Cabinet, in his ministry, he's got those
Speaker 20: elements who are pushing him, pushing him to take further action,
Speaker 20: but they're also saying, you need to keep your focus
Speaker 20: on the main thing here for Israel, which for them
Speaker 20: is still the conflict in Gaza, the conflict against Tamas
Speaker 20: and Gaza, and also fending off Hasbalah from the north
Speaker 20: in Lebanon.
Speaker 11: Europe. Being too many fronts here it becomes difficult.
Speaker 20: And some of those voices you know that we're hearing
Speaker 20: this morning, saying that whatever Israel did was weak, that
Speaker 20: needs to be more. They aren't actually in the war cabinet,
Speaker 20: so they're not they're making the military decisions, but they
Speaker 20: are pushing him from the sidelines. The question is, you've
Speaker 20: also at the US and others urging restraints. So all
Speaker 20: these competing factors going on for Benjamin Netnyahu.
Speaker 11: But again there seems to be a lot of messaging
Speaker 11: this morning on is.
Speaker 20: Rerad ATV about the need to keep focused on Israel's
Speaker 20: goals when it comes to its war in Gaza, and.
Speaker 3: Just thirty seconds left, where does this leave the war
Speaker 3: in Gaza now?
Speaker 20: Well, Israel insists very much still its attention is to
Speaker 20: mount that offensive inside Raphae in the south. That's where
Speaker 20: we've got a lot of Palestinian civilians clustered, and it's
Speaker 20: going to happen sooner.
Speaker 11: Rather than later.
Speaker 20: We'd obviously get telegraphed because Israel have to encourage people
Speaker 20: and move them out of the way to do so.
Speaker 20: But certainly there's no sense from Israel that they're being
Speaker 20: deterred in that goal.
Speaker 11: So that's probably the next thing to look for.
Speaker 20: At some point, do we see that offensive beginning rougher
Speaker 20: in the south New Egypt.
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