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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: Aaron, we begin with the stock at the heart of

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Speaker 2: the artificial intelligence revolution. We're watching shares of Nvidia. They

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Speaker 2: are up nearly two percent in early trading, but that

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Speaker 2: follows a three day thirteen percent route that has wiped

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Speaker 2: out four hundred and thirty billion dollars in Vidia's market value.

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Speaker 2: That's the biggest three day value slide for any company

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Speaker 2: in history. Emily Rowland is co chief investment strategist at

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Speaker 2: John Hancock Investment Management.

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Speaker 3: I can't remember a time when one stock ever meant

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Speaker 3: this much to the market.

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Speaker 4: It's so remarkable, I.

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Speaker 1: Mean it was.

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Speaker 4: It's up one hundred and fifty percent here today, two

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Speaker 4: hundred percent over the one year period, So I think

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Speaker 4: it certainly makes sense to expect some type of pullback

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Speaker 4: in this name.

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Speaker 2: Despite the sell off, John Hancock's Emily Roland notes, in

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Speaker 2: Vidia is still up almost one hundred and forty percent

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Speaker 2: this year.

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Speaker 1: Well, Nathan, tech is not the only thing on investors' minds.

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Speaker 1: We get a key inflation report on Friday, to close

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Speaker 1: out the week, and that is preceded by Thursday CNN

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Speaker 1: presidential debate. Lurie Calvasinas, head of UI Secuity Strategy at

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Speaker 1: URBC Capital Markets, and says both events could be equally

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Speaker 1: important for markets.

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Speaker 4: It's not just about inflation this week. Political risk is

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Speaker 4: starting to heat up. I increasingly think that's going to

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Speaker 4: be a bigger issue, both at home and abroad for

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Speaker 4: investors to deal with in the second half of the year.

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Speaker 4: And even on politics, we always tell people, you know

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Speaker 4: it always sort of the headlines capture us that jerk

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Speaker 4: things around. Remember that stocks tend to do well in

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Speaker 4: any political environment, regardless of who's controlling the White House

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Speaker 4: or Congress.

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Speaker 1: And OURBC Capital Markets Lorie Calvacino warns there is a

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Speaker 1: lot of good news already baked into markets and if

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Speaker 1: that optimism proves unjustified, there could be downside risks and Karen.

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Speaker 2: As we gear up for Thursday's debate, voters are headed

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Speaker 2: to the polls today for primaries in New York's, South Carolina, Colorado,

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Speaker 2: and Utah. Bloomberg Zamy Morris as a preview.

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Speaker 3: In New York, Representative Jamal Bowman, a member of a

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Speaker 3: block of hard left Democrats, known as the Squad, is

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Speaker 3: this cycle's first Democrat in danger of being rejected by

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Speaker 3: his party's voters after his criticism of Israel sparked an

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Speaker 3: effort to remove him from Congress. Bowman faces a challenge

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Speaker 3: from Westchester County Executive George Latimer. In South Carolina, Mark Burns,

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Speaker 3: a Donald Trump endorsed pastor, faces Sherry Biggs, an Air

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Speaker 3: National Guard lieutenant colonel, and a Trump friendly district in

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Speaker 3: Utah for Republicans, including one backed by the cryptocurrency industry,

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Speaker 3: are on the ballot for the Senate seat of Mitt Romney,

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Speaker 3: who has decided to not seek a second term. In Colorado,

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Speaker 3: Representative Lauren Bobert is seeking re election in a new

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Speaker 3: district and is expected to win her primary over splintered opposition.

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Speaker 3: In Washington, Amy Morris Bloomberg Radio.

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Speaker 1: All right, Amy, thank you, And this final primary day

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Speaker 1: of twenty twenty four is another day of debate prep

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Speaker 1: for President Biden. He's been at Camp David since the weekend,

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Speaker 1: huddling with aids to prepare for the showdown in Atlanta

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Speaker 1: with former President Trump and beat back concerns about his

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Speaker 1: age and fitness for another four years. Tina Fordham is

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Speaker 1: a geopolitical strategist at Fordham A Global Foresight.

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Speaker 5: Arguably the bar is higher for Joe Biden because there

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Speaker 5: has been this relentless kind of narrative about him being

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Speaker 5: a daughter in you old fool, and Trump comes out

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Speaker 5: guns blazing with you know what is really also a

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Speaker 5: meandering way of expressing himself.

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Speaker 1: Fordham Global Foresight founder Tina Fordham says Trump feeds off

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Speaker 1: the energy of a crowd. But Thursday Night's debate on

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Speaker 1: CNN will not include a studio audience. Our coverage of

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Speaker 1: the CNN presidential debate begins this Thursday night at a pm.

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Speaker 1: Wall Street Time, with a special addition of Balance of

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Speaker 1: Power with Joe Matthew and Kaylee Lines in Washington and

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Speaker 1: David Gura in Atlanta. Listen in for the debate on

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Speaker 1: Bloomberg Radio or watch it on Bloomberg tell Vision.

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Speaker 2: Well Now to a major development in geopolitics, Karen Wikileague

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Speaker 2: sender Julian Assange has agreed to plead guilty in a

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Speaker 2: deal with the US Justice Department. We get the story

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Speaker 2: from Bloomberg.

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Speaker 6: Send Baxter fellon account of espionage will resolve a long

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Speaker 6: running legal saga that spend multiple continents centered on publication

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Speaker 6: of a trove of classified documents dating back to twenty ten.

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Speaker 7: And twenty eleven.

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Speaker 6: Wikileague statement saying this is a result of a global

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Speaker 6: campaign that spend grassroots organizers, press freedom campaigners, legislators, leaders

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Speaker 6: from across the political spectrum all the way to the

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Speaker 6: United Nations. He will be in court on the Mariana

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Speaker 6: Islands and then go back to his native Australia, not

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Speaker 6: wanting to head back to the US where he could

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Speaker 6: face a lengthy sentence Head Baxter, Bloomberg Radio, All.

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Speaker 8: Right and thanks.

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Speaker 1: Turning back to the markets now, Bloomberg News has learned

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Speaker 1: Boeing has offered to acquire Spirit Aerosystems with a mostly

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Speaker 1: stock offer. The deal values a key supplier at about

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Speaker 1: thirty five dollars per share. The price marks of twenty

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Speaker 1: two percent, ups to Spirit Aerospace's closing price on February

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Speaker 1: twenty ninth, the day before Boeing's takeover talks became public.

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Speaker 2: And Karen Bowing's main competitor is also making news. This morning,

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Speaker 2: shares of air Bus are down about ten and a

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Speaker 2: half percent in European trading. The Planemaker's warning it's experiencing

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Speaker 2: a shortage on engines, aerostructures, and cabinet interiors that in

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Speaker 2: turn is sabotaging air buses, delivery plans, and.

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Speaker 1: Shares of Germany's Murk Nathan. They're down about ten percent.

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Speaker 1: The company said it will discontinue development of the drug

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Speaker 1: for the treatment of head and neck cancer. Analysts and

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Speaker 1: estimated that drug could reach peak sales of a billion

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Speaker 1: and a half dollars. This is the second high profile

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Speaker 1: drug failure since December for merk.

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Speaker 2: Well back here in the US, Karen earnings will be

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Speaker 2: in focus once again. FedEx reports after the close of trading.

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Speaker 2: We get a preview from Bloomberg's Charlie Pellett.

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Speaker 7: Cost cutting programs are likely to show incremental signs of

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Speaker 7: paying off for FedEx when it reports fourth quarter earnings.

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Speaker 7: Analysts say easing year over year comparisons will also lift results,

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Speaker 7: though the company continues to face weakened demand. Investors will

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Speaker 7: be focused on guidance for the new fiscal year. That

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Speaker 7: guidance will also reflect the company's shifting structure as it

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Speaker 7: consolidates its express, ground and services units. Analysts are looking

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Speaker 7: for a just at EPs of five dollars thirty four

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Speaker 7: cents on revenue of twenty two point one billion dollars

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Speaker 7: in New York Charlie Pellett's Bloomberg Radio.

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Speaker 1: All right, Charlie, thanks, and Apple's artificial intelligence offerings have

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Speaker 1: gotten more attention after The Wall Street Journal reported the

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Speaker 1: iPhone makers and talks with Meta Platforms about an AI partnership.

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Speaker 1: Now Bloomberg News has learned those talks might not have

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Speaker 1: gotten very far. Sources tell us Meta approached Apple months

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Speaker 1: ago about integrating its AI chatbot into the iPhone, but

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Speaker 1: got turned down. We're told Apple doesn't think Meta's privacy

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Speaker 1: practices are tight enough. And it's time now for look

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Speaker 1: at some of the other stories making news in New

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Speaker 1: York and around the world. And for that we're joined

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Speaker 1: by Bloomberg's John Tucker. Good morning and happy birthday, John.

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Speaker 9: Oh Well, thank you very much. Karen trying to keep

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Speaker 9: that a secret. New York City is the world's most

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Speaker 9: congested urban the area for the second year in a row.

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Speaker 9: Let's get more in this report this morning from Bloomberg

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Speaker 9: Jeff Bellinger.

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Speaker 8: The global traffic scorecard from Enrich shows a typical motorist

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Speaker 8: driving through the most populated city in the US, lost

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Speaker 8: one hundred one hours last year because of traffic during

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Speaker 8: peak commuting times. That's the most among nearly one thousand

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Speaker 8: cities around the globe. It costs the city an estimated

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Speaker 8: nine point one billion dollars in lost time. New York

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Speaker 8: City tops the list again after Governor Kathy Hochel earlier

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Speaker 8: this month indefinitely paused a tolling plan that aimed to

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Speaker 8: reduce traffic and raise money to update the city's aging

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Speaker 8: transit network. Vehicles in downtown Manhattan drove and an average

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Speaker 8: speed of eleven miles per hour during peak morning periods

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Speaker 8: in New York. Jeff Bellinger Bloomberg.

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Speaker 9: Radio Overseas, France's president says far right and far left

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Speaker 9: policies in the upcoming elections could spark what he calls

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Speaker 9: a civil war. Here's the French leader deventing his decision

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Speaker 9: to call a snap election. This choice was imposed. Did

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Speaker 9: it make me happy? The answer is no. On June ninth,

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Speaker 9: if there was anyone it heard, it was me. If

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Speaker 9: we follow your reasoning to the end, the country explodes

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Speaker 9: or there is civil war, yeah, did we do everything right?

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Speaker 9: It is no. Mccrawn tilling the Generation Do It Yourself podcast.

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Speaker 9: The national rally parties plan to tackle crime focusing on

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Speaker 9: people's religion or origins is divisive and could lead to unrest.

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Speaker 9: A federal judges in Kansas in Missouri together blocking much

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Speaker 9: of a Biden administration's student loan repayment plan that provides

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Speaker 9: a faster path to cancelation a lower monthly payments for

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Speaker 9: millions of borrowers. The judges rulings prevent the Department of

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Speaker 9: Education from helping many of the intended borrowers ease their

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Speaker 9: loan repayment burdens. And two NASA astauts Butch Wilmore and

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Speaker 9: Sunny Williams, are stock orbiting Earth on the International Space Station,

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Speaker 9: now two weeks past their plan return to Earth. The

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Speaker 9: remain aboard the ISS is Boeing and NASA engineer's work

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Speaker 9: to fix a series of helium leaks on the Boeing

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Speaker 9: Starliner spacecraft. Global News, Worst Day and Whenever you want

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Speaker 9: it with Bloomberg News Now. I'm John Tucker, and this

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Speaker 9: is Bloomberg Karen all.

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Speaker 1: Right, John Tucker, thank you, and it's time now for

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Speaker 1: the Bloomberg Sports Update with John stash Hour.

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Speaker 8: John, Good morning, good morning.

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Speaker 10: Carry the eighteenth ever Game seven of a Stanley Cup

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Speaker 10: final odd way to get there with Florida went in

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Speaker 10: the first three games at Edmonton the next three. Never

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Speaker 10: trailed in those games, but never led. Last night, Panthers

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Speaker 10: got a carter over hegy tip in four and a

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Speaker 10: half minutes, and the Oilers answered about two minutes later.

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Speaker 10: Matteaz the n Mark breakaway. Only one goal was scored

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Speaker 10: over the next fifty three minutes.

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Speaker 9: Helped the right point for Cci held along the port's

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Speaker 9: names Rice Sidle full Gold cuts out Ron tay to

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Speaker 9: say Barroski that it's pushed away out of harm's way

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Speaker 9: by Kulikoff hit the Panthers breaking up quickly.

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Speaker 8: Here's Whinehart at the right wing. Shy Kwiheart to the

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Speaker 8: right circle, putch.

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Speaker 10: Up Safehart gives the Panthers but two only u qam

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Speaker 10: both teams with scoring chances after that, but the Panthers

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Speaker 10: hung on won two to one their first ever Stanley Cup.

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Speaker 10: But it was a surprised that Connor McDavid won the

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Speaker 10: con Smite this playoff MVP not only on the losing team,

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Speaker 10: but he was quiet in Game seven, did have forty

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Speaker 10: two points in the playoffs. The drought continues north of

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Speaker 10: the border since Montreal thirty one years ago. Canadian teams

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Speaker 10: in the final are Owen seven, Mets and the Yankee to

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Speaker 10: night first of two from City Field, with Garrett Cole

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Speaker 10: making his second start of the season, goes opposite David

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Speaker 10: Peterson Mets without Edwin Diaz. That ejection Sunday for sticky

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Speaker 10: stuff on his hand comes with an automatic ten games

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Speaker 10: suspension of though DZ could appeal. Red Sox stay hot

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Speaker 10: down six to two in the eighth inning, they beat

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Speaker 10: Toronto seven six. They've won eight of the last nine

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Speaker 10: Nationals lost in tenings. In San Diego, Giants stop the Cubs.

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Speaker 10: It was their first home game since the passing that

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Speaker 10: Willie Mays. All Giant players wore uniform number twenty four.

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Speaker 10: The NBA draft against tomorrow, and then comes free agency.

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Speaker 10: The Knicks could lose two key players Isaiah Herdenstein and

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Speaker 10: Ogian Andobi, who has expected tocline his player option of

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Speaker 10: twenty million. He can make much more as a free agent.

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Speaker 10: Knicks want to keep him. With on Anobi in the lineup.

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Speaker 10: They went twenty six and six. John Stashedward Bloomberg Sports

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Speaker 10: Karon Nabor.

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Speaker 6: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 6: and around the world on Bloomberg dot Com and the

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Speaker 6: Bloomberg Business app.

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Speaker 8: This is Bloomberg Daybreak.

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Speaker 2: Good morning, I'm Nathan Hager. A nearly fifteen year legal

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Speaker 2: battle is nearly over for Julian Assage, the wikileak's co founder,

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Speaker 2: is on his way back to his native Australia after

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Speaker 2: reaching a plea deal with the Justice Department over one

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Speaker 2: of the biggest breaches of state secrets in US history.

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Speaker 2: This as preparations continue for the first debate in the

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Speaker 2: rematch between President Biden and former President Trump. For more

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Speaker 2: on the latest geo politics, we were joined by Bloomberg

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Speaker 2: News Senior editor Bill Ferries. Bill. Good morning. Obviously, this

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Speaker 2: outcome for Julian Asange has been a very long time coming.

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Speaker 2: How did this plea deal come about?

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Speaker 11: Yeah, it seems like news from a time capsule at

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Speaker 11: this point. You know, for those of us who remember

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Speaker 11: how this all started with the with the leaks that

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Speaker 11: you know that Assange put out there on Wiki leaks

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Speaker 11: that he got from with documents he got from Chelsea Manning,

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Speaker 11: it's you know, it's been a saga. If you remember,

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Speaker 11: Assane spent I think almost seven years hold up in

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Speaker 11: Ecuador's embassy in the UK before leaving and being arrested

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Speaker 11: by British authorities as he tried to escape US justice.

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Speaker 11: So you know, we're coming up on almost fifteen years

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Speaker 11: of this going on. The Australian government has long been

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Speaker 11: pushing for his relief. They seem to have worked some

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Speaker 11: kind of an agreement with the Justice Department for Assange

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Speaker 11: to plead guilty when he lands, probably later on Tuesday,

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Speaker 11: US time in the Northern Mariana Islands, US Commonwealth, and

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Speaker 11: he will plead guilty to charges of leaking US national

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Speaker 11: security secrets. He will be immediately sentenced to about five

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Speaker 11: years of time served and he'll get back on his

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Speaker 11: plane and he'll head to Australia. That should bring this

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Speaker 11: all to a close, but it has It has been

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Speaker 11: a long time.

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Speaker 2: Coming, and we had known that President Biden had at

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Speaker 2: least indicated that he was in favor of some kind

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Speaker 2: of plea deal to try to get this resolved. After

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Speaker 2: all this time, is there any indication of any political

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Speaker 2: pressure to bring this outcome to light?

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Speaker 11: You know, officially the White House has directed all questions

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Speaker 11: to the Department of Justice. They've said that there was

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Speaker 11: no political involvement. The Australian government has only said that,

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Speaker 11: you know, the legal proceedings are continuing because Assange has

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Speaker 11: not made it to Saipan and the Marianna Islands to

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Speaker 11: this Federal Court hearing that will take place there, so

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Speaker 11: we may learn more after he lands on Australian soil.

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Speaker 11: You know, we know that the Australian government has been

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Speaker 11: pushing for this, not just through legal channels, but through

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Speaker 11: political channels. So I don't think anyone will be surprised

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Speaker 11: if we find out later on that there was a

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Speaker 11: political component to all this.

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Speaker 2: We're going to find out later on, specifically, two nights

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Speaker 2: from now. How President Biden former President Trump doing their

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Speaker 2: first rematch debate this Thursday evening. President Biden's been putting

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Speaker 2: a lot of time and effort into debate prep. How

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Speaker 2: make or break is Thursday night?

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Speaker 4: For him?

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Speaker 11: Well, I think it's you know, at some level, it's

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Speaker 11: make or break for both men. They both there's a

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Speaker 11: lot of pitfalls they're both facing, but certainly for President Biden,

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Speaker 11: who seems to still be behind in a lot of

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Speaker 11: the battleground state polls. He cannot really afford a slip

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Speaker 11: up or or a moment where he either appears confused

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Speaker 11: or or forgets something. So he is I think the

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Speaker 11: pressure is in some ways more on him. He is

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Speaker 11: holed up at Camp David with about a dozen aides,

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Speaker 11: including you know, people like Ron Klain and Mike Donoalan.

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Speaker 11: His lawyer, Bob Bauer, is going to be playing Donald

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Speaker 11: Trump in the mock debates. But yeah, he still has

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Speaker 11: a couple days of prep ahead of him and he

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Speaker 11: can certainly, you know, it's it's it's like walking a

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Speaker 11: razor's edge for both men. I think President well, President

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Speaker 11: Trump back in twenty twenty had some notable stumbles or

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Speaker 11: gaffes in his debate against Joe Biden at the time

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Speaker 11: that may have hurt his standing. But yeah, this is

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Speaker 11: something that you know, a lot of people have been

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Speaker 11: waiting to see happen for several years now, and it's

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Speaker 11: the earliest debate I think we've had in modern presidential history,

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Speaker 11: and it could be a dividing moment.

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Speaker 2: This is Bloomberg Daybreak Today, your morning brief on the

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Speaker 2: stories making news from Wall Street to Washington and beyond look.

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Speaker 2: and I'm Karen Moscow.

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Speaker 1: Join us again tomorrow morning for all the news you

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