Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: Aaron, we begin with the stock at the heart of
Speaker 2: the artificial intelligence revolution. We're watching shares of Nvidia. They
Speaker 2: are up nearly two percent in early trading, but that
Speaker 2: follows a three day thirteen percent route that has wiped
Speaker 2: out four hundred and thirty billion dollars in Vidia's market value.
Speaker 2: That's the biggest three day value slide for any company
Speaker 2: in history. Emily Rowland is co chief investment strategist at
Speaker 2: John Hancock Investment Management.
Speaker 3: I can't remember a time when one stock ever meant
Speaker 3: this much to the market.
Speaker 4: It's so remarkable, I.
Speaker 1: Mean it was.
Speaker 4: It's up one hundred and fifty percent here today, two
Speaker 4: hundred percent over the one year period, So I think
Speaker 4: it certainly makes sense to expect some type of pullback
Speaker 4: in this name.
Speaker 2: Despite the sell off, John Hancock's Emily Roland notes, in
Speaker 2: Vidia is still up almost one hundred and forty percent
Speaker 2: this year.
Speaker 1: Well, Nathan, tech is not the only thing on investors' minds.
Speaker 1: We get a key inflation report on Friday, to close
Speaker 1: out the week, and that is preceded by Thursday CNN
Speaker 1: presidential debate. Lurie Calvasinas, head of UI Secuity Strategy at
Speaker 1: URBC Capital Markets, and says both events could be equally
Speaker 1: important for markets.
Speaker 4: It's not just about inflation this week. Political risk is
Speaker 4: starting to heat up. I increasingly think that's going to
Speaker 4: be a bigger issue, both at home and abroad for
Speaker 4: investors to deal with in the second half of the year.
Speaker 4: And even on politics, we always tell people, you know
Speaker 4: it always sort of the headlines capture us that jerk
Speaker 4: things around. Remember that stocks tend to do well in
Speaker 4: any political environment, regardless of who's controlling the White House
Speaker 4: or Congress.
Speaker 1: And OURBC Capital Markets Lorie Calvacino warns there is a
Speaker 1: lot of good news already baked into markets and if
Speaker 1: that optimism proves unjustified, there could be downside risks and Karen.
Speaker 2: As we gear up for Thursday's debate, voters are headed
Speaker 2: to the polls today for primaries in New York's, South Carolina, Colorado,
Speaker 2: and Utah. Bloomberg Zamy Morris as a preview.
Speaker 3: In New York, Representative Jamal Bowman, a member of a
Speaker 3: block of hard left Democrats, known as the Squad, is
Speaker 3: this cycle's first Democrat in danger of being rejected by
Speaker 3: his party's voters after his criticism of Israel sparked an
Speaker 3: effort to remove him from Congress. Bowman faces a challenge
Speaker 3: from Westchester County Executive George Latimer. In South Carolina, Mark Burns,
Speaker 3: a Donald Trump endorsed pastor, faces Sherry Biggs, an Air
Speaker 3: National Guard lieutenant colonel, and a Trump friendly district in
Speaker 3: Utah for Republicans, including one backed by the cryptocurrency industry,
Speaker 3: are on the ballot for the Senate seat of Mitt Romney,
Speaker 3: who has decided to not seek a second term. In Colorado,
Speaker 3: Representative Lauren Bobert is seeking re election in a new
Speaker 3: district and is expected to win her primary over splintered opposition.
Speaker 3: In Washington, Amy Morris Bloomberg Radio.
Speaker 1: All right, Amy, thank you, And this final primary day
Speaker 1: of twenty twenty four is another day of debate prep
Speaker 1: for President Biden. He's been at Camp David since the weekend,
Speaker 1: huddling with aids to prepare for the showdown in Atlanta
Speaker 1: with former President Trump and beat back concerns about his
Speaker 1: age and fitness for another four years. Tina Fordham is
Speaker 1: a geopolitical strategist at Fordham A Global Foresight.
Speaker 5: Arguably the bar is higher for Joe Biden because there
Speaker 5: has been this relentless kind of narrative about him being
Speaker 5: a daughter in you old fool, and Trump comes out
Speaker 5: guns blazing with you know what is really also a
Speaker 5: meandering way of expressing himself.
Speaker 1: Fordham Global Foresight founder Tina Fordham says Trump feeds off
Speaker 1: the energy of a crowd. But Thursday Night's debate on
Speaker 1: CNN will not include a studio audience. Our coverage of
Speaker 1: the CNN presidential debate begins this Thursday night at a pm.
Speaker 1: Wall Street Time, with a special addition of Balance of
Speaker 1: Power with Joe Matthew and Kaylee Lines in Washington and
Speaker 1: David Gura in Atlanta. Listen in for the debate on
Speaker 1: Bloomberg Radio or watch it on Bloomberg tell Vision.
Speaker 2: Well Now to a major development in geopolitics, Karen Wikileague
Speaker 2: sender Julian Assange has agreed to plead guilty in a
Speaker 2: deal with the US Justice Department. We get the story
Speaker 2: from Bloomberg.
Speaker 6: Send Baxter fellon account of espionage will resolve a long
Speaker 6: running legal saga that spend multiple continents centered on publication
Speaker 6: of a trove of classified documents dating back to twenty ten.
Speaker 7: And twenty eleven.
Speaker 6: Wikileague statement saying this is a result of a global
Speaker 6: campaign that spend grassroots organizers, press freedom campaigners, legislators, leaders
Speaker 6: from across the political spectrum all the way to the
Speaker 6: United Nations. He will be in court on the Mariana
Speaker 6: Islands and then go back to his native Australia, not
Speaker 6: wanting to head back to the US where he could
Speaker 6: face a lengthy sentence Head Baxter, Bloomberg Radio, All.
Speaker 8: Right and thanks.
Speaker 1: Turning back to the markets now, Bloomberg News has learned
Speaker 1: Boeing has offered to acquire Spirit Aerosystems with a mostly
Speaker 1: stock offer. The deal values a key supplier at about
Speaker 1: thirty five dollars per share. The price marks of twenty
Speaker 1: two percent, ups to Spirit Aerospace's closing price on February
Speaker 1: twenty ninth, the day before Boeing's takeover talks became public.
Speaker 2: And Karen Bowing's main competitor is also making news. This morning,
Speaker 2: shares of air Bus are down about ten and a
Speaker 2: half percent in European trading. The Planemaker's warning it's experiencing
Speaker 2: a shortage on engines, aerostructures, and cabinet interiors that in
Speaker 2: turn is sabotaging air buses, delivery plans, and.
Speaker 1: Shares of Germany's Murk Nathan. They're down about ten percent.
Speaker 1: The company said it will discontinue development of the drug
Speaker 1: for the treatment of head and neck cancer. Analysts and
Speaker 1: estimated that drug could reach peak sales of a billion
Speaker 1: and a half dollars. This is the second high profile
Speaker 1: drug failure since December for merk.
Speaker 2: Well back here in the US, Karen earnings will be
Speaker 2: in focus once again. FedEx reports after the close of trading.
Speaker 2: We get a preview from Bloomberg's Charlie Pellett.
Speaker 7: Cost cutting programs are likely to show incremental signs of
Speaker 7: paying off for FedEx when it reports fourth quarter earnings.
Speaker 7: Analysts say easing year over year comparisons will also lift results,
Speaker 7: though the company continues to face weakened demand. Investors will
Speaker 7: be focused on guidance for the new fiscal year. That
Speaker 7: guidance will also reflect the company's shifting structure as it
Speaker 7: consolidates its express, ground and services units. Analysts are looking
Speaker 7: for a just at EPs of five dollars thirty four
Speaker 7: cents on revenue of twenty two point one billion dollars
Speaker 7: in New York Charlie Pellett's Bloomberg Radio.
Speaker 1: All right, Charlie, thanks, and Apple's artificial intelligence offerings have
Speaker 1: gotten more attention after The Wall Street Journal reported the
Speaker 1: iPhone makers and talks with Meta Platforms about an AI partnership.
Speaker 1: Now Bloomberg News has learned those talks might not have
Speaker 1: gotten very far. Sources tell us Meta approached Apple months
Speaker 1: ago about integrating its AI chatbot into the iPhone, but
Speaker 1: got turned down. We're told Apple doesn't think Meta's privacy
Speaker 1: practices are tight enough. And it's time now for look
Speaker 1: at some of the other stories making news in New
Speaker 1: York and around the world. And for that we're joined
Speaker 1: by Bloomberg's John Tucker. Good morning and happy birthday, John.
Speaker 9: Oh Well, thank you very much. Karen trying to keep
Speaker 9: that a secret. New York City is the world's most
Speaker 9: congested urban the area for the second year in a row.
Speaker 9: Let's get more in this report this morning from Bloomberg
Speaker 9: Jeff Bellinger.
Speaker 8: The global traffic scorecard from Enrich shows a typical motorist
Speaker 8: driving through the most populated city in the US, lost
Speaker 8: one hundred one hours last year because of traffic during
Speaker 8: peak commuting times. That's the most among nearly one thousand
Speaker 8: cities around the globe. It costs the city an estimated
Speaker 8: nine point one billion dollars in lost time. New York
Speaker 8: City tops the list again after Governor Kathy Hochel earlier
Speaker 8: this month indefinitely paused a tolling plan that aimed to
Speaker 8: reduce traffic and raise money to update the city's aging
Speaker 8: transit network. Vehicles in downtown Manhattan drove and an average
Speaker 8: speed of eleven miles per hour during peak morning periods
Speaker 8: in New York. Jeff Bellinger Bloomberg.
Speaker 9: Radio Overseas, France's president says far right and far left
Speaker 9: policies in the upcoming elections could spark what he calls
Speaker 9: a civil war. Here's the French leader deventing his decision
Speaker 9: to call a snap election. This choice was imposed. Did
Speaker 9: it make me happy? The answer is no. On June ninth,
Speaker 9: if there was anyone it heard, it was me. If
Speaker 9: we follow your reasoning to the end, the country explodes
Speaker 9: or there is civil war, yeah, did we do everything right?
Speaker 9: It is no. Mccrawn tilling the Generation Do It Yourself podcast.
Speaker 9: The national rally parties plan to tackle crime focusing on
Speaker 9: people's religion or origins is divisive and could lead to unrest.
Speaker 9: A federal judges in Kansas in Missouri together blocking much
Speaker 9: of a Biden administration's student loan repayment plan that provides
Speaker 9: a faster path to cancelation a lower monthly payments for
Speaker 9: millions of borrowers. The judges rulings prevent the Department of
Speaker 9: Education from helping many of the intended borrowers ease their
Speaker 9: loan repayment burdens. And two NASA astauts Butch Wilmore and
Speaker 9: Sunny Williams, are stock orbiting Earth on the International Space Station,
Speaker 9: now two weeks past their plan return to Earth. The
Speaker 9: remain aboard the ISS is Boeing and NASA engineer's work
Speaker 9: to fix a series of helium leaks on the Boeing
Speaker 9: Starliner spacecraft. Global News, Worst Day and Whenever you want
Speaker 9: it with Bloomberg News Now. I'm John Tucker, and this
Speaker 9: is Bloomberg Karen all.
Speaker 1: Right, John Tucker, thank you, and it's time now for
Speaker 1: the Bloomberg Sports Update with John stash Hour.
Speaker 8: John, Good morning, good morning.
Speaker 10: Carry the eighteenth ever Game seven of a Stanley Cup
Speaker 10: final odd way to get there with Florida went in
Speaker 10: the first three games at Edmonton the next three. Never
Speaker 10: trailed in those games, but never led. Last night, Panthers
Speaker 10: got a carter over hegy tip in four and a
Speaker 10: half minutes, and the Oilers answered about two minutes later.
Speaker 10: Matteaz the n Mark breakaway. Only one goal was scored
Speaker 10: over the next fifty three minutes.
Speaker 9: Helped the right point for Cci held along the port's
Speaker 9: names Rice Sidle full Gold cuts out Ron tay to
Speaker 9: say Barroski that it's pushed away out of harm's way
Speaker 9: by Kulikoff hit the Panthers breaking up quickly.
Speaker 8: Here's Whinehart at the right wing. Shy Kwiheart to the
Speaker 8: right circle, putch.
Speaker 10: Up Safehart gives the Panthers but two only u qam
Speaker 10: both teams with scoring chances after that, but the Panthers
Speaker 10: hung on won two to one their first ever Stanley Cup.
Speaker 10: But it was a surprised that Connor McDavid won the
Speaker 10: con Smite this playoff MVP not only on the losing team,
Speaker 10: but he was quiet in Game seven, did have forty
Speaker 10: two points in the playoffs. The drought continues north of
Speaker 10: the border since Montreal thirty one years ago. Canadian teams
Speaker 10: in the final are Owen seven, Mets and the Yankee to
Speaker 10: night first of two from City Field, with Garrett Cole
Speaker 10: making his second start of the season, goes opposite David
Speaker 10: Peterson Mets without Edwin Diaz. That ejection Sunday for sticky
Speaker 10: stuff on his hand comes with an automatic ten games
Speaker 10: suspension of though DZ could appeal. Red Sox stay hot
Speaker 10: down six to two in the eighth inning, they beat
Speaker 10: Toronto seven six. They've won eight of the last nine
Speaker 10: Nationals lost in tenings. In San Diego, Giants stop the Cubs.
Speaker 10: It was their first home game since the passing that
Speaker 10: Willie Mays. All Giant players wore uniform number twenty four.
Speaker 10: The NBA draft against tomorrow, and then comes free agency.
Speaker 10: The Knicks could lose two key players Isaiah Herdenstein and
Speaker 10: Ogian Andobi, who has expected tocline his player option of
Speaker 10: twenty million. He can make much more as a free agent.
Speaker 10: Knicks want to keep him. With on Anobi in the lineup.
Speaker 10: They went twenty six and six. John Stashedward Bloomberg Sports
Speaker 10: Karon Nabor.
Speaker 6: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 6: and around the world on Bloomberg dot Com and the
Speaker 6: Bloomberg Business app.
Speaker 8: This is Bloomberg Daybreak.
Speaker 2: Good morning, I'm Nathan Hager. A nearly fifteen year legal
Speaker 2: battle is nearly over for Julian Assage, the wikileak's co founder,
Speaker 2: is on his way back to his native Australia after
Speaker 2: reaching a plea deal with the Justice Department over one
Speaker 2: of the biggest breaches of state secrets in US history.
Speaker 2: This as preparations continue for the first debate in the
Speaker 2: rematch between President Biden and former President Trump. For more
Speaker 2: on the latest geo politics, we were joined by Bloomberg
Speaker 2: News Senior editor Bill Ferries. Bill. Good morning. Obviously, this
Speaker 2: outcome for Julian Asange has been a very long time coming.
Speaker 2: How did this plea deal come about?
Speaker 11: Yeah, it seems like news from a time capsule at
Speaker 11: this point. You know, for those of us who remember
Speaker 11: how this all started with the with the leaks that
Speaker 11: you know that Assange put out there on Wiki leaks
Speaker 11: that he got from with documents he got from Chelsea Manning,
Speaker 11: it's you know, it's been a saga. If you remember,
Speaker 11: Assane spent I think almost seven years hold up in
Speaker 11: Ecuador's embassy in the UK before leaving and being arrested
Speaker 11: by British authorities as he tried to escape US justice.
Speaker 11: So you know, we're coming up on almost fifteen years
Speaker 11: of this going on. The Australian government has long been
Speaker 11: pushing for his relief. They seem to have worked some
Speaker 11: kind of an agreement with the Justice Department for Assange
Speaker 11: to plead guilty when he lands, probably later on Tuesday,
Speaker 11: US time in the Northern Mariana Islands, US Commonwealth, and
Speaker 11: he will plead guilty to charges of leaking US national
Speaker 11: security secrets. He will be immediately sentenced to about five
Speaker 11: years of time served and he'll get back on his
Speaker 11: plane and he'll head to Australia. That should bring this
Speaker 11: all to a close, but it has It has been
Speaker 11: a long time.
Speaker 2: Coming, and we had known that President Biden had at
Speaker 2: least indicated that he was in favor of some kind
Speaker 2: of plea deal to try to get this resolved. After
Speaker 2: all this time, is there any indication of any political
Speaker 2: pressure to bring this outcome to light?
Speaker 11: You know, officially the White House has directed all questions
Speaker 11: to the Department of Justice. They've said that there was
Speaker 11: no political involvement. The Australian government has only said that,
Speaker 11: you know, the legal proceedings are continuing because Assange has
Speaker 11: not made it to Saipan and the Marianna Islands to
Speaker 11: this Federal Court hearing that will take place there, so
Speaker 11: we may learn more after he lands on Australian soil.
Speaker 11: You know, we know that the Australian government has been
Speaker 11: pushing for this, not just through legal channels, but through
Speaker 11: political channels. So I don't think anyone will be surprised
Speaker 11: if we find out later on that there was a
Speaker 11: political component to all this.
Speaker 2: We're going to find out later on, specifically, two nights
Speaker 2: from now. How President Biden former President Trump doing their
Speaker 2: first rematch debate this Thursday evening. President Biden's been putting
Speaker 2: a lot of time and effort into debate prep. How
Speaker 2: make or break is Thursday night?
Speaker 4: For him?
Speaker 11: Well, I think it's you know, at some level, it's
Speaker 11: make or break for both men. They both there's a
Speaker 11: lot of pitfalls they're both facing, but certainly for President Biden,
Speaker 11: who seems to still be behind in a lot of
Speaker 11: the battleground state polls. He cannot really afford a slip
Speaker 11: up or or a moment where he either appears confused
Speaker 11: or or forgets something. So he is I think the
Speaker 11: pressure is in some ways more on him. He is
Speaker 11: holed up at Camp David with about a dozen aides,
Speaker 11: including you know, people like Ron Klain and Mike Donoalan.
Speaker 11: His lawyer, Bob Bauer, is going to be playing Donald
Speaker 11: Trump in the mock debates. But yeah, he still has
Speaker 11: a couple days of prep ahead of him and he
Speaker 11: can certainly, you know, it's it's it's like walking a
Speaker 11: razor's edge for both men. I think President well, President
Speaker 11: Trump back in twenty twenty had some notable stumbles or
Speaker 11: gaffes in his debate against Joe Biden at the time
Speaker 11: that may have hurt his standing. But yeah, this is
Speaker 11: something that you know, a lot of people have been
Speaker 11: waiting to see happen for several years now, and it's
Speaker 11: the earliest debate I think we've had in modern presidential history,
Speaker 11: and it could be a dividing moment.
Speaker 2: This is Bloomberg Daybreak Today, your morning brief on the
Speaker 2: stories making news from Wall Street to Washington and beyond look.
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Speaker 2: You can also listen live each morning starting at five
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Speaker 2: Listen coast to coast on the Bloomberg Business app, seriusxmb
Speaker 2: iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager
Speaker 2: and I'm Karen Moscow.
Speaker 1: Join us again tomorrow morning for all the news you
Speaker 1: need to start your day right here on Bloomberg Daybreak