WEBVTT - Bloomberg Daybreak: June 2, 2022 - Hour 1 (Radio) 0:00:04.160 --> 0:00:07.960 Line from the Bloomberg Interacted Berger Studios is Bloomberg Daybreak 0:00:08.039 --> 0:00:12.680 four Thursday, June second two, Coming up the shower, Another 0:00:12.800 --> 0:00:15.880 deadly mass shooting in the US, this time in Tulsa. 0:00:16.360 --> 0:00:19.360 President Biden is likely to visit Saudi Arabia as gas 0:00:19.360 --> 0:00:23.439 prices surge and Cheryl Sandberg steps down from Facebook parent 0:00:23.520 --> 0:00:26.880 Metta after fourteen years. She tells this wine New York 0:00:26.920 --> 0:00:29.760 Mayor Adams name is a gun violence are plus. President 0:00:29.800 --> 0:00:32.640 Biden gets pushed back, saying no one anticipated the baby 0:00:32.680 --> 0:00:36.520 formula shortage. Hi'm Michael Barr. More ahead, I've done stands 0:00:36.520 --> 0:00:39.200 swards forwards. Another win for the Rangers. They beat Tampa 0:00:39.200 --> 0:00:41.440 Bay in Game one the Mets one there six in 0:00:41.479 --> 0:00:47.320 a row. That's all Strading ahead on Bloomberg Daybreak on 0:00:47.440 --> 0:00:51.920 Bloomberg eleven, Free on New York, Bloomberg one, Washington, d C, 0:00:52.400 --> 0:00:55.960 Bloomberg one oh six one, Boston, Bloomberg nine sixties and 0:00:56.080 --> 0:00:59.960 Francisco Sirius x M one nineteen and around the world 0:01:00.160 --> 0:01:03.640 on Bloomberg Radio dot Com and via the Bloomberg Business app. 0:01:07.440 --> 0:01:10.679 And good Morning. I'm Karen Moscow, I'm Nathan Hagar. Bloomberg 0:01:10.760 --> 0:01:13.520 Daybreak is brought to you by Informatica. In the cloud, 0:01:13.560 --> 0:01:16.319 your data has the power to do the extraordinary. Manage 0:01:16.400 --> 0:01:19.000 data across any location in the cloud for accurate and 0:01:19.080 --> 0:01:24.320 actionable insights. More at Informatica, dot Com and US futures 0:01:24.360 --> 0:01:26.640 are higher this morning five about one on Wall Street. 0:01:26.640 --> 0:01:29.160 We checked the markets every fifteen minutes throughout the trading day. 0:01:29.200 --> 0:01:31.160 On Bloomberg, U S and P future is up about 0:01:31.200 --> 0:01:34.120 sixteen voice this morning, Down futures have eighty six and 0:01:34.200 --> 0:01:37.800 NASDAG futures up sixties six. Nathan Well, Karen, We begin 0:01:37.920 --> 0:01:40.520 this morning with yet another mass shooting in the US, 0:01:40.600 --> 0:01:44.319 this time at a medical building in Tulsa, Oklahoma. Deputy 0:01:44.360 --> 0:01:47.160 Police Chief Eric Dagley says a man carrying a rifle 0:01:47.240 --> 0:01:50.720 and a handgun opened fire on employees and visitors before 0:01:50.760 --> 0:01:54.840 turning his gun on himself. We have four civilians that 0:01:54.960 --> 0:01:59.080 are um dead. We have one shooter that is dead 0:01:59.600 --> 0:02:03.720 and right now we believe that is self inflicted. Deputy 0:02:03.760 --> 0:02:06.080 Chief Eric Dougli says it took about three minutes for 0:02:06.160 --> 0:02:08.480 officers to arrive at the scene and they made contact 0:02:08.560 --> 0:02:11.240 with the gunman about ten minutes later. This comes after 0:02:11.320 --> 0:02:14.520 recent mass shootings in Yvaldi, Texas, and Buffalo, New York, 0:02:14.639 --> 0:02:18.160 that have Democratic leaders in Washington calling for greater restrictions 0:02:18.200 --> 0:02:22.120 on guns Nathan. While President Biden contends with another shooting, 0:02:22.200 --> 0:02:25.519 he is also grappling with rising gas prices that has 0:02:25.600 --> 0:02:28.480 him now planning a trip to Saudi Arabia. Amy Morris 0:02:28.520 --> 0:02:32.560 has details from our Bloomberg newsroom in Washington. Sources tell 0:02:32.560 --> 0:02:36.079 Bloomberg News President Biden is likely to visit Saudi Arabia 0:02:36.160 --> 0:02:38.600 later this month, and that could mean the President would 0:02:38.639 --> 0:02:41.720 also meet with Crown Prince Mohammed Ben Solomon, who the 0:02:41.800 --> 0:02:44.320 US blames for the twenty eight team murder of US 0:02:44.400 --> 0:02:48.239 based columnists Jamalka Shoji. Now Early in his presidency, Biden 0:02:48.240 --> 0:02:51.160 said he would only deal with Saudi Arabia's official head 0:02:51.200 --> 0:02:55.000 of state, King Solomon bin Abdula Ziz. But the president 0:02:55.080 --> 0:02:57.919 is under increasing pressure to meet with Ben Solomon as 0:02:57.960 --> 0:03:01.160 gas prices hit record highs in Washington. I maybe more 0:03:01.200 --> 0:03:04.160 as Bloomberg daybreak, All right, Amy, thank your consumers. Maybe 0:03:04.160 --> 0:03:06.280 getting a bit more relief at the pomp ahead of 0:03:06.280 --> 0:03:09.280 that proposed trip. According to the Financial Times, Saudi Arabia 0:03:09.280 --> 0:03:12.000 is prepared to produce more crude if Russian output the 0:03:12.040 --> 0:03:15.919 clients substantially meantime OPEC and its allies meet today, they 0:03:15.919 --> 0:03:19.320 are expected to ratify a modest increase in production. Checking 0:03:19.320 --> 0:03:22.280 prices right now, Nimex crudes down two percent or two 0:03:22.280 --> 0:03:24.960 dollars thirty cents at a hundred twelve dollars nine cents 0:03:24.960 --> 0:03:27.840 of barrel. Brent is down two point two a hundred 0:03:27.840 --> 0:03:30.799 thirteen dollars seventy six cents. Well. Nathan wall Street is 0:03:30.840 --> 0:03:34.360 still reacting to the resignation of Meta Chief operating officer 0:03:34.520 --> 0:03:38.080 Cheryl Sandberg. She became one of the most recognized figures 0:03:38.080 --> 0:03:41.240 in global business after helping Facebook transform from US start 0:03:41.320 --> 0:03:45.600 up into a multibillion dollar advertising powerhouse. Sandberg spoke about 0:03:45.600 --> 0:03:48.680 her decision with Bloomberg's Emily Chang. The decision I didn't 0:03:48.720 --> 0:03:53.400 come too rightly, but it's been fourteen years. It's been 0:03:53.480 --> 0:03:56.360 fourteen years, and I wanted to make more room to 0:03:56.480 --> 0:04:00.200 do more philanthropically. And Cheryl Sandberg caused her time had 0:04:00.200 --> 0:04:02.840 met U quote the honor and privilege of a lifetime. 0:04:03.040 --> 0:04:06.000 Sandberg leaves behind a complicated legacy, Karen. While she did 0:04:06.040 --> 0:04:09.320 help build Facebook into a global giant, the company's reputation 0:04:09.520 --> 0:04:13.400 was tarnished by developing blind spots on data and misinformation. 0:04:13.720 --> 0:04:17.240 Techonomy Media CEO David Kirkpatrick called Sandberg one of the 0:04:17.279 --> 0:04:20.760 most powerful women in the business world. Well, she served 0:04:20.800 --> 0:04:23.840 as a symbol of women's success in business. There's no question, 0:04:23.920 --> 0:04:27.120 I mean for most of the last fourteen years, certainly 0:04:27.120 --> 0:04:29.840 for the last maybe ten or eleven years. She could 0:04:29.839 --> 0:04:32.120 have left Facebook at any time and become the CEO 0:04:32.200 --> 0:04:34.200 of any company in the world. And I know she 0:04:34.400 --> 0:04:36.760 was solicited for those kinds of jobs time and time 0:04:36.800 --> 0:04:39.919 again and didn't show interest because she really wanted to 0:04:39.960 --> 0:04:43.600 stay here. Techonomy Media CEO David Kirkpatrick spoke with Bloomberg 0:04:43.640 --> 0:04:46.480 Technologies Emily Chang. For more from Emily and our tech team, 0:04:46.520 --> 0:04:50.640 subscribed to the Bloomberg Technology podcast. It's available daily wherever 0:04:50.720 --> 0:04:53.679 you get your podcasts. While turning to the economy now, Nathan, 0:04:53.680 --> 0:04:56.200 our focus remains on the FED. St. Louis FED President 0:04:56.279 --> 0:04:58.680 James Bullard wants to raise interest rates to three and 0:04:58.680 --> 0:05:01.479 a half percent this year to came inflation. As we 0:05:01.600 --> 0:05:07.000 get tangible evidence that inflation is definitely retreating, then we 0:05:07.080 --> 0:05:12.960 could look at reducing the policy rate future years, maybe 0:05:13.040 --> 0:05:17.360 late three or four, saying the West FED President James 0:05:17.400 --> 0:05:20.520 Bullard spoke at the Economic Club of Memphis. He's traditionally 0:05:20.560 --> 0:05:23.120 been the most hawkish official on the FED. Well A 0:05:23.120 --> 0:05:25.440 couple of Wall Street ceo s think Bullard and the 0:05:25.440 --> 0:05:27.920 FED have a very difficult road ahead of them. Karen 0:05:28.160 --> 0:05:32.279 Here's Wells Fargo CEO Charlie Scharf, the economy has to slow. 0:05:32.760 --> 0:05:35.880 The FED has been very clear about what their intentions 0:05:35.920 --> 0:05:41.280 are and the scenario of a soft landing is very 0:05:41.320 --> 0:05:44.160 difficult to achieve and I think extremely difficult to achieve 0:05:44.520 --> 0:05:47.560 in the environment that we're in today. Wells Fargo CEO 0:05:47.640 --> 0:05:50.239 Charlie Scharf says he sees loan growth starting to moderate. 0:05:50.279 --> 0:05:53.200 His comments follow a similar warning from JP Morgan CEO 0:05:53.360 --> 0:05:57.240 Jamie Diamond. It's a hurricane. It's right now, it's kind 0:05:57.240 --> 0:06:00.560 of sunny. Things are doing fine, and with thinks that 0:06:01.000 --> 0:06:04.080 the FED can handle this. That hurricane is right out 0:06:04.080 --> 0:06:06.840 there down the road coming our way. We just don't 0:06:06.839 --> 0:06:10.279 know if it's a minor one or Superstorm Sandy. Both 0:06:10.360 --> 0:06:12.960 JP Morgan's Jamie Diamond and Charlie Sharf of Wells Fargo 0:06:13.040 --> 0:06:15.360 spoke at a conference in New York. Well, let's update 0:06:15.400 --> 0:06:17.760 you now on some key earnings from late yesterday. Shares 0:06:17.760 --> 0:06:20.400 a Hewlett Packard Enterprise OR down more than six percent 0:06:20.480 --> 0:06:23.480 in early trading after the company lowered its forecast. Bloomberg's 0:06:23.480 --> 0:06:27.080 down Kristner has more. The company sided a few headwinds 0:06:27.120 --> 0:06:31.560 on favorable currency movements, supply chain disruptions, and the impact 0:06:31.600 --> 0:06:34.760 of the company's exit from the Russian market. Hewlett Packard 0:06:34.839 --> 0:06:38.120 Enterprise said profit excluding some items will be as much 0:06:38.120 --> 0:06:41.280 as seven cents less than the previous guidance issued in March. 0:06:41.800 --> 0:06:44.880 HPE has been working to reduce its reliance on sales 0:06:44.880 --> 0:06:48.920 of hardware such as data center servers by encouraging customers 0:06:48.960 --> 0:06:52.800 to pay for additional services with subscriptions. In New York, 0:06:52.800 --> 0:06:55.200 I'm Doug Prisner, Bloomberg Daybreak. All right, Doug, thanks Some 0:06:55.240 --> 0:06:57.200 other stocks on the move this morning. Shares A Chewy 0:06:57.320 --> 0:06:59.960 OR up more than seventeen percent. The pet products retailer 0:07:00.000 --> 0:07:02.799 reported profit in sales at top estimates, and as usual, 0:07:02.880 --> 0:07:05.840 some volatility and shares of games stop. The video game 0:07:05.880 --> 0:07:08.960 retailer reported a wider than expected first quartered at loss. 0:07:09.200 --> 0:07:13.240 After falling almost three game stock shares are now up 0:07:13.280 --> 0:07:17.000 about one Straight Ahead, your latest local headlines, and a 0:07:17.080 --> 0:07:24.120 check of sports. This is Bloomberg's five oh seven on 0:07:24.160 --> 0:07:26.480 Wall Street where sixty three degrees in Central Park, dealing 0:07:26.480 --> 0:07:28.960 with a tractor trailer accident South Bend two eight seven 0:07:29.040 --> 0:07:31.760 year egsitt ten. Details coming up in traffic First. Michael 0:07:31.800 --> 0:07:34.000 Barr with more on what's going on in New York 0:07:34.080 --> 0:07:36.520 and around the world. Michael, good morning, Good morning, Nathan. 0:07:36.520 --> 0:07:39.920 New York Mayor Eric Adams will name a gun violence are. 0:07:40.320 --> 0:07:43.760 Adams continues to be confronted with a stubbornly high number 0:07:43.760 --> 0:07:46.440 of gun offenses in the city. According to The New 0:07:46.520 --> 0:07:50.120 York Times, the Adams administration has also considered declaring a 0:07:50.240 --> 0:07:54.000 state of emergency related to the surgeon gun violence. Meanwhile, 0:07:54.040 --> 0:07:57.400 Mayor Adams also sent a stern letter to city employees 0:07:57.440 --> 0:08:00.720 that they need to stop working from home. Adams road, 0:08:00.760 --> 0:08:05.560 all city employee should be advised that, absent reasonable accommodation, 0:08:06.000 --> 0:08:08.600 you are required to report to work in person for 0:08:08.640 --> 0:08:12.360 every schedule, workday, and hybrid schedules of any kind they're 0:08:12.400 --> 0:08:15.960 not permitted. He called the move critical to New York's economy. 0:08:16.120 --> 0:08:19.360 Baby formula makers met with President Biden for an update 0:08:19.560 --> 0:08:22.760 on ending the supply crisis in the US. There's nothing 0:08:22.800 --> 0:08:25.120 more stressful than the feeling you can't get what your 0:08:25.200 --> 0:08:28.720 child needs he or she needs. And that's why I've 0:08:28.760 --> 0:08:32.360 directed my administration used every tool available or increase the supply, 0:08:33.240 --> 0:08:36.520 get more formula on shelves as quickly as possible. However, 0:08:36.600 --> 0:08:39.640 President Biden faced push back on his claims that no 0:08:39.720 --> 0:08:44.360 one predicted shutting one food plant would create a nationwide shortage. 0:08:44.640 --> 0:08:49.200 Perigo Baby formula producer executive Murray Kessler told President Biden 0:08:49.480 --> 0:08:52.320 he immediately knew there'd be a supply crisis when the 0:08:52.400 --> 0:08:55.880 FDA closed the Abbot formula plant. The very first thing 0:08:55.960 --> 0:08:58.960 we did when we heard about the Abbot recall was 0:08:59.640 --> 0:09:02.640 we could foresee that this was going to create a 0:09:02.679 --> 0:09:08.200 tremendous shortage. We um significantly increased all our material orders. 0:09:09.000 --> 0:09:11.640 Marie Kesler with Perry go Later, the White House Press 0:09:11.640 --> 0:09:15.120 Secretaries said the administration has been working to relieve the 0:09:15.160 --> 0:09:20.320 formula shortage since day one. The Queen's Platinum Jubilee is underway, 0:09:20.360 --> 0:09:23.240 a four day bash designed to honor her seventy years 0:09:23.240 --> 0:09:26.200 on the throne. Millions across Britain are ready to take 0:09:26.240 --> 0:09:29.440 to the streets for parties and big Jubilee lunches. Globally 0:09:29.720 --> 0:09:32.200 was twenty four hours a day on air and on 0:09:32.280 --> 0:09:35.400 Bloomberg Quick Take, powered by more than twenty seven hundred 0:09:35.440 --> 0:09:38.560 journalists analysts in more than a hundred twenty countries. I'm 0:09:38.600 --> 0:09:42.079 Michael Barr, and this is Bloomberg. Nathan. Alright, Michael, thank you, 0:09:46.920 --> 0:09:49.000 five oh nine on Wall Street. Time for the Bloomberg 0:09:49.040 --> 0:09:52.319 Sports Update. Good morning, John Sesshire, Morning, Nathan. The Rangers 0:09:52.320 --> 0:09:54.520 are in a place they had not been before in 0:09:54.559 --> 0:09:57.559 these Stanley Cup whofs ahead in a series before getting 0:09:57.559 --> 0:09:59.920 into a Game seven, Game one with Tampa Bay at 0:09:59.920 --> 0:10:02.960 the Garden at Chris Crider goal on the Rangers first 0:10:02.960 --> 0:10:05.360 shot of the series. They led to to one, then 0:10:05.400 --> 0:10:08.040 three to two, and then the kid line of Philip 0:10:08.160 --> 0:10:11.800 Halo Capocaco and elections La Frontier. We're on the ice 0:10:11.880 --> 0:10:15.600 for almost three minutes, getting which it up the board, 0:10:15.880 --> 0:10:19.760 take it back, another lifted, but it's fatted down by Cox, 0:10:20.040 --> 0:10:23.920 he said. The upfit to total, he said, collector games. 0:10:23.960 --> 0:10:28.920 We'll try the village villars legal he scars. What a 0:10:29.160 --> 0:10:33.000 shift by the Rangers and it ends up isn't like 0:10:33.240 --> 0:10:38.079 eat shit. It's four two Rachers w e p and 0:10:38.240 --> 0:10:40.880 second goal of the game for the suddenly red hot Philippo. 0:10:40.920 --> 0:10:42.679 He had eight goals in the regular season, He's got 0:10:42.720 --> 0:10:45.600 seven of the playoffs are Tammy Panarin scored open him 0:10:45.640 --> 0:10:47.960 into the third period. The makings a manage at Rangers 0:10:47.960 --> 0:10:50.480 beat the Lightning six to two. Tampa had only allowed 0:10:50.520 --> 0:10:54.000 a total of three goals in its four games sweeping Florida. 0:10:54.000 --> 0:10:56.840 The Rangers now won five of their last six seven 0:10:56.840 --> 0:10:58.920 a row at the Garden, where they'll be back for 0:10:59.000 --> 0:11:01.720 game two tomorrow night. Matt's hit the road now right 0:11:01.760 --> 0:11:03.880 in a sixth game winning streak. Shout out Washington five 0:11:03.960 --> 0:11:06.959 nothing buying Carlos Carrasco Tomas Neto had four hits and 0:11:07.000 --> 0:11:10.880 now a ten game road trip, all in southern California, 0:11:11.000 --> 0:11:15.120 playing the Dodgers tonight. French Open Women's Semifinals today in Paris. 0:11:15.160 --> 0:11:17.960 Eighteen year old Coco Golf playing her first Grand Slam 0:11:18.040 --> 0:11:21.760 semi NBA Finals Game one tonight Celtics and Warriors in 0:11:21.840 --> 0:11:25.839 San Francisco. John stash Atward Bloomberg Sports, Nathan Okay, John, 0:11:25.880 --> 0:11:29.720 thanks right now. SMP futures are higher by seventeen points. 0:11:29.760 --> 0:11:32.520 Staff futures up a hundred two nestack futures leading the 0:11:32.559 --> 0:11:34.800 games this morning. They're up seventy points. That's a game 0:11:34.840 --> 0:11:37.760 of almost six tents of one percent. Tend your treasury 0:11:37.840 --> 0:11:39.800 right now, down one thirty second the yield two point 0:11:39.840 --> 0:11:41.839 nine one percent yield on the two year two point 0:11:41.880 --> 0:11:44.839 six six nine X. Crude is down two point one 0:11:45.400 --> 0:11:47.800 dollars forty three cents at a hundred twelve dollars eighty 0:11:47.920 --> 0:11:50.880 four cents of barrel on report, Saudi Arabia could boost 0:11:50.960 --> 0:11:58.000 output if Russian supplies falls significantly. Guns and gas dual 0:11:58.080 --> 0:12:00.680 challenges for President Biden will be tie about it next 0:12:00.679 --> 0:12:04.480 with Bloomberg government reporter Jack Fitzpatrick in Washington. This is 0:12:04.520 --> 0:12:09.440 Bloomberg Bloomberg eleven three oh whether. Mostly cloudy today, a 0:12:09.520 --> 0:12:11.800 chance for showers and storms are behind near eighty. We'll 0:12:11.840 --> 0:12:16.240 clear out tomorrow, upper seventies, sunshine for the weekend with 0:12:16.320 --> 0:12:22.600 highs in the upper seventies. Right now sixty three degrees. Markets, 0:12:22.679 --> 0:12:25.760 headlines and breaking news twenty four hours a day at 0:12:25.800 --> 0:12:29.720 Bloomberg dot Com, the Bloomberg Business Out, and at Bloomberg Quicktake. 0:12:29.960 --> 0:12:39.280 This is a Bloomberg business lash, and I'm Karen Moscow 0:12:39.360 --> 0:12:41.960 stocks in Europe in US Dock Index futures are climbing 0:12:42.000 --> 0:12:45.280 as investors assess attractive valuations and a drop in oil 0:12:45.360 --> 0:12:49.359 prices against hawkish messages from central bankers on raining and inflation. 0:12:49.720 --> 0:12:52.400 Crude oil is sliding on a report that Saudi Arabia 0:12:52.480 --> 0:12:55.199 is ready to pump more oil if Russian output declines. 0:12:55.559 --> 0:12:58.320 OPEC plus schedule to meet to discuss supply policy. We 0:12:58.400 --> 0:13:00.720 checked the markets every fifteen minutes to the trading day 0:13:00.760 --> 0:13:04.000 on Bloomberg has in P futures up nineteen points this morning, 0:13:04.040 --> 0:13:07.280 down futures of a hundred seventeen NASDACK futures have seventy 0:13:07.400 --> 0:13:10.040 six the decks in Germany's up three quarters of a percent. 0:13:10.320 --> 0:13:12.959 Ten year treasury down one thirty second two point on 0:13:13.080 --> 0:13:15.160 one percent. The yield on the two year two point 0:13:15.200 --> 0:13:18.240 six six percent. Non mix screwed oil is down two 0:13:18.240 --> 0:13:20.320 point one percent on two dollars thirty eight cents at 0:13:20.320 --> 0:13:22.640 a hundred twelve dollars eighty eight cents a barrel. Co 0:13:22.800 --> 0:13:25.040 mex schooled up four ten percent or seven dollars ten 0:13:25.160 --> 0:13:28.280 cents at eighteen fifty five seventy announced the euro one 0:13:28.280 --> 0:13:30.640 point six eight eight against the dollar British bound one 0:13:30.640 --> 0:13:33.000 point to five four o two and the yen is 0:13:33.040 --> 0:13:35.839 at one twenty nine point eight one and Bitcoin this 0:13:35.880 --> 0:13:39.600 morning higher up one point one percent at twenty nine thousand, 0:13:39.840 --> 0:13:43.160 nine hundred dollars. That's a Bloomberg Business Flash. Now here's 0:13:43.200 --> 0:13:46.400 Michael Barr with more on what's going on around the world. Michael, 0:13:46.440 --> 0:13:49.520 good morning, Good morning, Karen. Police officials say four people 0:13:49.520 --> 0:13:51.560 have been killed in a mass shooting, and it's also 0:13:51.679 --> 0:13:55.280 medical building on a hospital campus. Authorities also say the 0:13:55.280 --> 0:13:58.280 shooter was dead, apparently from a self inflicted The gunshot 0:13:58.360 --> 0:14:02.079 wound President Biden's as. No one anticipated the baby formula 0:14:02.160 --> 0:14:06.719 crisis until months after a crucial manufacturing plant owned by 0:14:06.760 --> 0:14:10.760 Abbott was shut down. Formula makers Biden met with disagree. 0:14:11.160 --> 0:14:14.319 Game one of the NHL East Final, the Rangers beat 0:14:14.360 --> 0:14:17.320 the Lightning six too. In baseball, the Yankees game was 0:14:17.360 --> 0:14:20.080 reigned out. The Mets beat the Nationals five zip. The 0:14:20.120 --> 0:14:23.440 Red Sox and Orioles won, the A's and Giants lost. 0:14:23.680 --> 0:14:26.360 Global News twenty four hours a day on air and 0:14:26.560 --> 0:14:29.640 on Bloomberg Quick Date, powered by more than twenty seven 0:14:29.720 --> 0:14:32.160 hundred journalists and analysts, more than a hundred twenty countries. 0:14:32.440 --> 0:14:34.960 Michael bar this is Bloomberg. Nathan him Michael, thank you. 0:14:35.000 --> 0:14:37.360 It's five nineteen on Wall Street Live from the Bloomberg 0:14:37.360 --> 0:14:40.960 Interactive Brokers Studios. This is Bloomberg Daybreak, and with yet 0:14:40.960 --> 0:14:43.680 another deadly mass shooting in the US, the issue of 0:14:44.160 --> 0:14:49.360 guns and gun restrictions once again is in focus in Washington, 0:14:49.400 --> 0:14:53.600 along with a mounting pile of challenges facing President Biden. 0:14:53.640 --> 0:14:56.960 Bloomberg Government Congressional reporter Jack Fitzpatrick joins us from our 0:14:56.960 --> 0:15:01.080 Bloomberg studios in the Nation's cap all as we get 0:15:01.120 --> 0:15:04.760 more on all these stories, Jack, Good morning. This shooting 0:15:04.800 --> 0:15:09.560 in Tulsa once again has the gun issue back in focus, 0:15:09.560 --> 0:15:14.960 and it comes with debate already underway following other recent 0:15:15.000 --> 0:15:18.120 mass shootings. Yes, uh, this is one of those issues 0:15:18.120 --> 0:15:20.200 where I don't even know if it's back in focus, 0:15:20.320 --> 0:15:24.040 is just still in focus. There have been bipartisan talks 0:15:24.040 --> 0:15:28.160 in the Senate following the Uvaldi School shooting about what 0:15:28.360 --> 0:15:31.680 is realistic to get sixty votes in the Senate. What's 0:15:31.720 --> 0:15:35.320 the low hanging fruit? A very limited measure would be 0:15:35.360 --> 0:15:38.840 expected from these conversations, But you know, is there some 0:15:38.880 --> 0:15:42.840 sort of bill they can pass. Seems that the conversations 0:15:43.240 --> 0:15:47.320 are there's a lot of talk about maybe incentivizing state 0:15:47.400 --> 0:15:52.400 level red flag laws, other sort of limited measures. I 0:15:52.800 --> 0:15:55.200 don't know if there's enough political will to raise the 0:15:55.280 --> 0:15:59.800 age uh for purchases, say of semi automatic rifles from 0:15:59.800 --> 0:16:01.360 eight team to twenty one. That is more of a 0:16:01.360 --> 0:16:05.160 Democratic priority. But yes, it would stand to reason that 0:16:05.240 --> 0:16:08.560 this latest shooting, high profile shooting, high profile enough so 0:16:08.640 --> 0:16:10.960 the President has been briefed on. It would sort of 0:16:11.040 --> 0:16:15.520 keep the political pressure on those senators having those conversations. 0:16:15.920 --> 0:16:19.280 And in the meantime, Jack, there's a bill moving forward 0:16:19.320 --> 0:16:22.520 on the House side that I think it's probably safe 0:16:22.520 --> 0:16:25.880 to describe as much more than low hanging fruit. I mean, 0:16:25.920 --> 0:16:29.960 what's what's the impetus to put a bill like that 0:16:30.080 --> 0:16:33.760 forward when it probably has little did no chance of 0:16:33.760 --> 0:16:37.160 passing in the sidence? Right, this is the more aggressive version. 0:16:37.240 --> 0:16:40.080 This would be a House Democratic bill that the House 0:16:40.160 --> 0:16:44.200 Judiciary Committee is set to virtually mark up today. Uh. 0:16:44.240 --> 0:16:47.640 That's why I mentioned as an example, uh, the idea 0:16:47.680 --> 0:16:51.680 that's been put forth of increasing the legal age to 0:16:51.720 --> 0:16:55.000 purchase a semi automatic weapon from eighteen to twenty one. 0:16:55.040 --> 0:16:57.720 That is one of the measures in that bill. Uh, 0:16:57.800 --> 0:17:01.680 that does not seem to be part of the bipartisan conversations. 0:17:01.880 --> 0:17:04.359 This is how the House of Representatives operates. You know, 0:17:04.600 --> 0:17:07.080 the majority can pass what they want through the House 0:17:07.080 --> 0:17:09.440 and at least take a stand. It may be more 0:17:09.480 --> 0:17:11.280 of a messaging bill if it's not going to go 0:17:11.320 --> 0:17:13.760 anywhere in the Senate. But the fact that you see 0:17:13.800 --> 0:17:17.040 this dual track approach the House doing what it can, 0:17:17.400 --> 0:17:20.720 the Senate getting a group of bipartisan members together to 0:17:20.800 --> 0:17:24.920 see what's most realistic. That reflects the amount of pressure 0:17:24.960 --> 0:17:28.439 to at least do something. Along with this politically fraught 0:17:28.520 --> 0:17:32.280 issue of gun rights, Jack, we also have the economy 0:17:32.400 --> 0:17:37.360 posing a continuing challenge for President Biden, rising gas prices. 0:17:37.480 --> 0:17:40.560 Now we're getting this report that he could be headed 0:17:40.560 --> 0:17:43.919 to Saudi Arabia later this month. Right, yes, our colleague 0:17:43.960 --> 0:17:47.680 Jennifer Jacobs reported that, uh, citing people familiar that he's 0:17:47.680 --> 0:17:50.440 expected to visit Saudi Arabia later this month when he's 0:17:50.480 --> 0:17:54.000 traveling for NATO and G seven meetings. Uh. That is 0:17:54.040 --> 0:17:57.320 important because it would it would be a bit of 0:17:57.359 --> 0:18:00.320 a surprise if he were to visit Studi Arabia, not 0:18:01.080 --> 0:18:04.919 visit or communicate with the Crown Prince Mohammed Been Salmon, 0:18:05.200 --> 0:18:08.879 who's really the de facto leader after the President. Biden 0:18:08.920 --> 0:18:12.640 had previously said he would only deal directly with King 0:18:12.720 --> 0:18:17.280 Salomon bin Abdullah Ziz, which was a slight toward the 0:18:17.320 --> 0:18:21.280 Crown Prince. Uh. If this reflects some easing of the 0:18:21.359 --> 0:18:26.639 tensions between Biden and Mohammed Been Salmon, that would be 0:18:26.720 --> 0:18:30.240 a very significant thing. And I think it's clearly something 0:18:30.400 --> 0:18:34.240 with gas prices in mind, as Biden looks for more 0:18:34.359 --> 0:18:38.960 production out of oil producing countries obviously gas producing countries 0:18:39.040 --> 0:18:42.160 not called Russia and Ukraine. No, you have all about 0:18:42.200 --> 0:18:44.600 thirty seconds left here, but are there indications that we 0:18:44.680 --> 0:18:47.399 could see a meeting between President Biden the Crown Prince? 0:18:47.440 --> 0:18:51.919 I mean, MBS had basically been blacklisted over alleged links 0:18:51.960 --> 0:18:55.840 to the murder of Washington Post columnist Jamal kah That's 0:18:55.880 --> 0:18:58.560 something the White House has not confirmed, so at this 0:18:58.640 --> 0:19:02.000 point that the news is about the visit. But you're 0:19:02.080 --> 0:19:05.119 right that Biden would have to set aside the the 0:19:05.280 --> 0:19:08.760 frustration over the killing of Jamaica show g H and 0:19:08.880 --> 0:19:12.280 his his frustration with Mohammed Ben Salomon, and he had 0:19:12.320 --> 0:19:15.280 really made a point of pinning that on the Crown Prince, 0:19:15.359 --> 0:19:18.840 so to meet with him would be a significant change, 0:19:18.960 --> 0:19:21.880 certainly would be Jack Fitzpatrick a Bloomberg Government as always, 0:19:22.400 --> 0:19:25.080 thanks for being with us from the nation's capital. Will 0:19:25.119 --> 0:19:27.160 be checking back with Jack later on in the program 0:19:27.160 --> 0:19:30.240 for uh much more of the other stories happening in Washington, 0:19:30.359 --> 0:19:32.520 d C. As well. Looking ahead to the market open 0:19:32.560 --> 0:19:35.600 this morning, we have futures moving higher, with SMP futures 0:19:35.640 --> 0:19:38.560 up twenty one point, DAL futures up a hundred thirty three. 0:19:38.640 --> 0:19:41.320 NASTAC futures are higher by eighty six points ten. Your 0:19:41.359 --> 0:19:44.280 treasury down one thirty second, the yield two point nine, 0:19:45.280 --> 0:19:48.080 NIMEX screwed down two percent, or two dollars six cents 0:19:48.080 --> 0:19:50.919 and a hundred thirteen dollars of barrel. On that report, 0:19:50.960 --> 0:19:54.120 the President Biden could be headed to Saudi Arabia. Just ahead, 0:19:54.280 --> 0:19:57.520 the latest on the mass killing in Tulsa, and Cheryl 0:19:57.560 --> 0:20:01.639 Sandberg leans into Life after Phase book. Top stories of 0:20:01.680 --> 0:20:08.399 the morning straight ahead on Bloomberg day Break Bloomberg eleven 0:20:08.440 --> 0:20:10.440 three oh weather. Chance for showers and storms today with 0:20:10.480 --> 0:20:12.840 a high near eighty degrees. We'll clear out tomorrow with 0:20:12.880 --> 0:20:17.160 a high near eighty for Friday sunshine upper seventies for Saturday. 0:20:17.359 --> 0:20:25.880 Right now sixty three degrees in Central Park. Broadcasting live 0:20:26.080 --> 0:20:30.040 from the Bloomberg Interactive Broker Studio in New York. Bloomberg 0:20:30.040 --> 0:20:34.120 Eloving Freedom to Washington, d C. Bloomberg On to Boston, 0:20:34.240 --> 0:20:38.040 Bloomberg one oh six one to San Francisco, Bloomberg sixty 0:20:38.200 --> 0:20:40.960 to the Country, Sirius XM Chidle one nine Tea, and 0:20:41.040 --> 0:20:44.440 around the globe the Bloomberg Business app and Bloomberg Radio 0:20:44.520 --> 0:20:53.879 dot Com. This is Bloomberg Daybreak. It's five thirty on 0:20:53.880 --> 0:20:56.480 Wall Street. Good morning. I'm Nathan Hagar and I'm Karen 0:20:56.560 --> 0:20:59.320 moscowur just about four hours away from the open of 0:20:59.440 --> 0:21:01.000 US trade and let's get you up to date on 0:21:01.040 --> 0:21:02.800 the news you need to know at this show. Or 0:21:02.800 --> 0:21:05.719 We begin with another mass shooting in the US, this 0:21:05.800 --> 0:21:08.960 time at a medical building in Tulsa, Oklahoma, that left 0:21:09.000 --> 0:21:12.880 four dead plus the shooter. Deputy Chief Eric Daglish says 0:21:12.920 --> 0:21:15.520 it took about three minutes for officers to arrive at 0:21:15.520 --> 0:21:18.040 the scene and they make contact with the gunmen. About 0:21:18.040 --> 0:21:21.840 ten minutes later, the officers that did arrive, we're hearing 0:21:21.840 --> 0:21:24.800 shots in the building and that's what directed them to 0:21:24.840 --> 0:21:28.639 the second floor, and Deputy police Chief Eric Daglish says 0:21:28.680 --> 0:21:32.080 a man opened fire on employees and visitors before turning 0:21:32.119 --> 0:21:35.560 the gun on himself. This comes after recent mass shootings 0:21:35.560 --> 0:21:38.760 in Valdi, Texas, and Buffalo, New York that have Democratic 0:21:38.840 --> 0:21:43.240 leaders calling for greater restrictions on guns. Elsewhere in Washington, Karen, 0:21:43.320 --> 0:21:46.000 President Biden is planning a trip to Saudi Arabia as 0:21:46.000 --> 0:21:49.000 he looks to address rising gasoline prices. According to a 0:21:49.080 --> 0:21:52.119 report from The Financial Times, Saudi Arabia is prepared to 0:21:52.160 --> 0:21:56.240 pump more crude if Russia's output substantially declines. Bloomberg News 0:21:56.320 --> 0:21:59.960 Energy reporter chair As Sharon Show says that could significantly 0:22:00.040 --> 0:22:04.159 impact prices. Russia is among the world three largest crew producers, 0:22:04.280 --> 0:22:06.399 and that's why this kind of a move will have 0:22:06.680 --> 0:22:10.960 major round the stations or global supply. Whether Saudi Arabia 0:22:11.000 --> 0:22:15.600 and NUA can cover Russia's low supply, that's the question 0:22:15.720 --> 0:22:19.200 that remains. Bloomberg Sharon Show. Reporting from Singapore, OPEC plus 0:22:19.240 --> 0:22:22.320 meets today, it's expected to ratify a modest increase in production. 0:22:22.600 --> 0:22:24.840 Checking prices now, NIME ex cruis down two and a 0:22:24.920 --> 0:22:26.760 quarter percent or two dollars fifty nine cents at a 0:22:26.840 --> 0:22:29.440 hundred twelve dollars sixty eight cents of barrel. Brent is 0:22:29.480 --> 0:22:33.600 down two point three hundred thirteen dollars fifty seven cents. Well, Nathan. 0:22:33.640 --> 0:22:36.359 The financial world is reacting to the resignation of Meta 0:22:36.400 --> 0:22:39.919 Chief operating officer Cheryl Sandberg. She became a tough figure 0:22:39.960 --> 0:22:42.680 in global business and tech during her fourteen years of 0:22:42.720 --> 0:22:46.240 the company. Sendberg tells Bloomberg's Emily Chang the decision to 0:22:46.320 --> 0:22:49.840 step down was not easy. It really is about how 0:22:49.880 --> 0:22:51.840 I will spend my time, not how much I've been 0:22:51.880 --> 0:22:54.199 leaving the company. I believe in the company, but as 0:22:54.280 --> 0:22:57.439