Speaker 1: News when you want it with Bloomberg News Now Dan Schwartzman.
Speaker 1: Officials say the US and China made substantial progress during
Speaker 1: trade talks in Geneva, Switzerland. Treasury Secretary Scott Bestin's and
Speaker 1: US Trade Representative Jamison Greer spoke after hours of meetings
Speaker 1: with Chinese Vice Premier Holly Fung. Here's bessant.
Speaker 2: First, I want to thank our Swiss host. The Swiss
Speaker 2: government has been very kind in providing us this wonderful venue,
Speaker 2: and I think that led to a great deal of
Speaker 2: the productivity we've seen. We will be giving details tomorrow,
Speaker 2: but I can tell you that the talks were productive.
Speaker 1: Asian stocks and US equity index futures rose as a
Speaker 1: result of the trade talks in Switzerland. We got reaction
Speaker 1: from Raj Singh, portfolio manager at Principal Asset Management.
Speaker 3: Market is liking it, and market is digesting this uncertainity
Speaker 3: quite well, and that we can see that since the
Speaker 3: libration day, most of the markets, how would all the losses,
Speaker 3: In fact, most of the markets on green. Whether you
Speaker 3: look at US, you look at Europe, you look places
Speaker 3: in Asia. So I would say that the risk sentiments
Speaker 3: are getting lifted.
Speaker 1: Here that was Raj Singh of Principal Asset Management HAMAS
Speaker 1: says it will be releasing the last living American it
Speaker 1: is holding hostage in Gaza Iden, Alexander. After holding direct
Speaker 1: talks to the US regarding a ceasefire with Israel, President
Speaker 1: Trump is in the Middle East this week meeting with
Speaker 1: regional leaders. An FAA equipment failure prompted another temporary groundstop
Speaker 1: at Newark Liberty International Airport on Sunday. The agency released
Speaker 1: a statement calling it a telecommunications issue at the Philadelphia
Speaker 1: area facility, which guides planes in and out of Newark Airport.
Speaker 1: New York Senator Chuck Schumer held a press conference to
Speaker 1: talk about the latest outage. This situation cannot last. We
Speaker 1: need all hands on deck at the FAA. Make Newark
Speaker 1: number one.
Speaker 4: Get it done, Get it done fast.
Speaker 1: That's New York Senator Chuck Schumer. Meantime. US Transportation Secretary
Speaker 1: Sean Duffy says Newark may see quote several weeks of
Speaker 1: reduced capacity as officials grapple with spiraling delays and safety
Speaker 1: lapses at one of the country's busiest hubs. Duffy spoke
Speaker 1: earlier to NBC's Meet the Press.
Speaker 5: What you see in Newark is going to happen in
Speaker 5: other places across the country. It has to be fixed.
Speaker 5: And so what we're having is some telecom issues. We're
Speaker 5: also having some glitches in our software as the information
Speaker 5: comes in is overloading some of our lines and the
Speaker 5: system goes down. So I'll just tell you specifically at Newark,
Speaker 5: we believe we're going to have it up and running
Speaker 5: in short order. We're gonna be able to fix that glitch.
Speaker 1: Transportation Secretary Sean Duffy, speaking to NBC, the Federal Aviation
Speaker 1: Administration says it will be holding tons with airline officials
Speaker 1: on May fourteenth in Washington. President Trump says on social
Speaker 1: media he will be signing an executive order at nine
Speaker 1: am Monday morning which will cup prescription drug prices by
Speaker 1: mandating that the US would pay the same price for
Speaker 1: drugs as whichever country pays the lowest prices in the world.
Speaker 1: Trump predicts the move will lower prices by thirty to
Speaker 1: eighty percent. The President did not, though, give specifics, such
Speaker 1: as whether the order would be just for government programs
Speaker 1: such as Medicare, Medicaid or across the board. A ceasefire
Speaker 1: between Indian and Pakistan appeared to be holding after four
Speaker 1: days of clashes that brought the two nuclear armed nations
Speaker 1: close to full blown war. This comes after President Trump
Speaker 1: untruth social declared that both countries had reached a quote
Speaker 1: full and immediate ceasefire. We have more from Bloomberg's Swatty Pandy.
Speaker 6: Some Indian officials also told Bloomberg reporters on condition of anonymity,
Speaker 6: that they were completely caught off god by Trump's truth
Speaker 6: social post. So there is that feeling that India and
Speaker 6: Pakistan were put on an equal footing by the US,
Speaker 6: which India wants to reject.
Speaker 1: That was Bloomberg's Swaddi Pandy. The conflict has raised concerns
Speaker 1: about the potential for future violence, with both sides having
Speaker 1: crossed quote red lines. The legislative push for President Trump's
Speaker 1: tax package begins in earnest this week, Bloomberg's Amy Morris
Speaker 1: supporting from Washington.
Speaker 4: The House Ways and Means and Energy and Commerce committees
Speaker 4: will be and considering their respective portions of the tax
Speaker 4: package on Tuesday. Energy and Commerce lawmakers are responsible for
Speaker 4: finding eight hundred and eighty billion dollars in savings over
Speaker 4: the next decade that could spark a fiery debate, especially
Speaker 4: over cuts to Medicaid. Republicans are still debating expanding the
Speaker 4: state and local tax deduction and restricting the estate tax.
Speaker 4: Gob leaders have said a vote on the entire tax
Speaker 4: and spending package will happen by the end of this month.
Speaker 4: In Washington, Amy Morris, Bloomberg Radio in.
Speaker 1: Sports, Sepstraca has won the truest Championship, shooting a sixteen
Speaker 1: hundred part acclaim his second title the PGA Tour season.
Speaker 1: And that's news when you want it with Bloomberg News Now,
Speaker 1: I'm Dan Schwartzman, and this is Bloomberg