Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Karen, we begin with the latest from the Middle East.
Speaker 3: Israel and Lebanon have agreed to a cease fire if
Speaker 3: Hezbola stops fighting. That has emerged as a key condition
Speaker 3: for Iran, and it's nearly two months truce with the US.
Speaker 3: Israel's US ambassador Leechiel Leiter says, this is an unprecedented agreement.
Speaker 4: We brought the people of Lebanon to the understanding that
Speaker 4: we're not the enemy Gizballes, and now we're going to
Speaker 4: work together to rid the country of this Iranian proxy
Speaker 4: on Israel's border.
Speaker 3: Israeli ambassador Yehiel Leiter spoke after the negotiations in Washington.
Speaker 3: Bloombergs of Birabu Omar has more from.
Speaker 5: Dubai Asbella has not given an answer yet to this.
Speaker 5: It could very well stop those hostilities and that could
Speaker 5: you will again answer the last sticking point between Iran
Speaker 5: and the United States. Were reported earlier this week that
Speaker 5: Iran's sticking point of Lebanon particularly had hindered the progress
Speaker 5: of negotiations between Israel, the US, and Iran.
Speaker 3: Bomberg Sabirabo Omar reporting from Dubai. Meantime, clashes did continue
Speaker 3: overnight in southern Lebanon. Iran's foreign minister Abbas Arakchi says meanwhile,
Speaker 3: there's been no recent progress in peace deal talks with
Speaker 3: the US. That's according to a report from Iran's semi
Speaker 3: official Cosdam News agency.
Speaker 2: Back in Washington, Nathan, President Trump's war effort has taken.
Speaker 6: Up political below.
Speaker 2: The Republican led House has approved a resolution to stop
Speaker 2: the war.
Speaker 7: On this boat.
Speaker 8: The a's are two hundred and fifteen of the days
Speaker 8: were two hundred and eight.
Speaker 3: The concurrent resolution is adopted.
Speaker 2: Four Republicans joined with every Democrat president to pass the
Speaker 2: war powers resolution. Democratic Senator jan Shaheen says she hopes
Speaker 2: this sends a message to the president.
Speaker 9: Howson Senate have both passed resolutions on the war in
Speaker 9: Iran with majorities that say the President needs to rethink
Speaker 9: his policy on Iran and needs to come to Congress.
Speaker 2: A new Hampshire Democrat, Jan Jaheen, appeared on Bloomberg's Balance
Speaker 2: of Power. This was the fourth time this year that
Speaker 2: Democrats forced a vote on the war and the first
Speaker 2: time they got enough support from Republicans to pass it.
Speaker 6: Karen.
Speaker 3: They're still counting the votes in the California governor's race,
Speaker 3: more than twenty four hours after the polls closed. With
Speaker 3: fifty eight percent of precinct reporting, Republican Steve Hilton is
Speaker 3: maintaining a lead with twenty seven point six percent of
Speaker 3: the vote. He's followed by Democrat Javier Bserra with twenty
Speaker 3: five point six percent, Fellow Democrat Tom Steyers holding on
Speaker 3: in third with nineteen point eight percent. The top two
Speaker 3: finishers go on to the general election, regardless of party.
Speaker 2: In Los Angeles Nathan, where voters also wih in on mayor,
Speaker 2: early results suggested a runoff between Democratic incumbent Karen Bass
Speaker 2: and reality TV star Spencer Pratt, a registered Republican party.
Speaker 2: His heavy reliance sun mail in ballots means a final
Speaker 2: result could be days away. According to the Associated Press,
Speaker 2: with sixty three percent of the votes counted, Bass holds
Speaker 2: the lead with roughly thirty five percent of votes, followed
Speaker 2: by Pratt with about thirty percent and city council member
Speaker 2: Nitty ah Raman at twenty two percent. If no candidate
Speaker 2: surpasses fifty percent of the vote, the top two finishers
Speaker 2: will advance to a runoff.
Speaker 3: Well, let's move from California to New York, Karen, where
Speaker 3: Knicks fans are celebrating a comeback win in Game one
Speaker 3: of the NBA Finals in Bloomberg's John stashires here with
Speaker 3: more on the game to remember in San Antonio, John.
Speaker 6: All right, Nathan the Next trailed the Spurs by fourteen
Speaker 6: in the second half, and they rallied back, led by
Speaker 6: their captain Brutson.
Speaker 10: Keeps it alive.
Speaker 3: Bridges looks back to Brunson. Quarter three US up time,
Speaker 3: Joylen Brutsen from downtown.
Speaker 11: Well next check out two point late.
Speaker 6: Let me go on ABC. Nixt scored the last eleven
Speaker 6: points of the game, and they won one oh five
Speaker 6: to ninety five runs and scored thirty points. The Knicks
Speaker 6: haven't lost in six weeks, twelve wins in a row,
Speaker 6: seventh straight on the road, all in double figures. It's
Speaker 6: the next first win in an NBA Finals Game one
Speaker 6: in fifty three years. Will John stash Away Bloomberg Radio, all.
Speaker 2: Right, John, thank you. We turned out to the markets
Speaker 2: for the nine day winning streak for stocks is over
Speaker 2: the s and P five hundred fell from our record
Speaker 2: and closed down three quarters of a percent. Goldman Sax
Speaker 2: CEO David Solomon says investors have a lot to digest.
Speaker 12: We have a lot of things going on in the macro,
Speaker 12: with the war, with the oil shock, supply chains, inflation
Speaker 12: getting stickier, that are going to have an effect, and
Speaker 12: you know, the market may absorb all that differently than
Speaker 12: it's absorbing it at the moment. At the moment, it's
Speaker 12: kind of brushing it aside.
Speaker 2: And Goldman Sax CEO David Solomon made the comments on
Speaker 2: the latest edition of the Bloomberg Odd Lots podcast. Get
Speaker 2: the full conversation on Apple, Spotify or anywhere else you download,
Speaker 2: and also on our new video hub on the Bloomberg
Speaker 2: Business app.
Speaker 3: Well, Karen Nasdaq futures are leading declines this morning, and
Speaker 3: Broadcom is helping fuel the losses. That stock is down
Speaker 3: more than thirteen percent in early trading. The company delivered
Speaker 3: a disappointing forecast for artificial intelligence chip revenue. Gil Luria
Speaker 3: is head of technology research at DA Davidson.
Speaker 8: This company has a big role in the growth of AI.
Speaker 13: It's just expectations were well beyond what consensus estimates were,
Speaker 13: and so a small bee just wasn't enough to keep
Speaker 13: the stock where it's at. And again it's trading at
Speaker 13: a premium ten Video and Videos trading in the low
Speaker 13: twenties on next twelve months earnings, Broadcoms trading in the
Speaker 13: thirties on next twelve months earnings.
Speaker 3: DA Davidson's Giloria notes that shares of Broadcom were already
Speaker 3: up almost forty percent this year.
Speaker 2: Another tech high flyer, Nathan, also pulling back This morning.
Speaker 2: Shares of CrowdStrike down eleven percent. The cybersecurity firm second
Speaker 2: quarter revenue forecast failed to impress investors who had been
Speaker 2: up the stock in recent months. The stock was up
Speaker 2: almost sixty percent this year ahead of earnings. Well.
Speaker 3: Speaking of high flyers, Karen space X is closing in
Speaker 3: on the biggest IPO of all time. Bloomberg's John Tucker
Speaker 3: joins us with the very latest John and Nate.
Speaker 11: According to its latest filing, Elon Musk's SpaceX plans to
Speaker 11: market about five hundred and fifty five point six million
Speaker 11: shares for one hundred and thirty five dollars each. That's
Speaker 11: seventy five billion dollars and at that price the company
Speaker 11: would be worth one point seven seven trillion dollars. The
Speaker 11: share sale now sent for June eleventh. Alex Morris at
Speaker 11: FM Investments expressed some concerns about the IPO.
Speaker 12: There's some knock on effects.
Speaker 3: I do have some worries about elsewhere in the AI
Speaker 3: supply chain.
Speaker 12: If they take all the oxygen away from everybody else.
Speaker 11: Well, the SpaceX offering should clear the path for other
Speaker 11: mega IPOs from Open AI and Anthropic. Most decision to
Speaker 11: offer shares at a fixed price ahead of the order
Speaker 11: taking almost unheard of for sizeable usipos. SpaceX would be
Speaker 11: bigger than all but six of the companies in the
Speaker 11: S and P five hundred. I'm John Tucker, Bloomberg Radio.
Speaker 2: All right, John, thank you. SpaceX's initial public offering will
Speaker 2: likely make President Trump's a wealthy administration even richer. Ten officials,
Speaker 2: ranging from Special Envoys Steve Whitcoff to Small Business Administration
Speaker 2: had Kelly Leffler, reported financial interests in Elon Musk Rocket
Speaker 2: Company or his artificial intelligence firm XAI. In total, the
Speaker 2: federal staffers held SpaceX or XAI stock worth at least
Speaker 2: nine point nine million dollars in as much as forty
Speaker 2: three point eight million, according to the disclosures.
Speaker 3: Well Karen JP Morgan Chase CEO Jamie Diamond plans to
Speaker 3: discuss SpaceX's upcoming debut with thousands of the bank's high
Speaker 3: net worth clients. Steimond will host a live interactive discussion
Speaker 3: later today from JP Morgan's headquarters. That's according to invitations
Speaker 3: seen by Bloomberg.
Speaker 2: Well Staying on Wall Street, Nathan Bank of America CEO
Speaker 2: Brian moynihan is talking about the affordability issue in America.
Speaker 2: On moynihan spoke with The Bloomberg's Danny Berger at the
Speaker 2: Forbes Summit in New York.
Speaker 14: Affordability is a real issue, but the fundamentally change affordability.
Speaker 14: We have to build more housing so that there's the
Speaker 14: supply pressure, bring the prices down affordability. Gas price is
Speaker 14: at four dollars and fifty cents above. We've been there before,
Speaker 14: so it is affordable.
Speaker 1: It's just not pleasant.
Speaker 2: You can catch our entire interview with Bank of America
Speaker 2: CEO Brian Monahan on the Bloomberg Business app and on
Speaker 2: Bloomberg dot Com. Time Now for a look at some
Speaker 2: of the other stories making news in New York and
Speaker 2: around the world, and for that we're joined by Bloomberg's
Speaker 2: Michael Barr Michael, good Morning.
Speaker 7: Good Morning Karen. A burial team was attacked and eleven
Speaker 7: of Bola patients fled isolation facilities in Eastern Democratic Republic
Speaker 7: of Congo as the outbreak spread to another health zone
Speaker 7: in a toury. However, the director of the World Health
Speaker 7: Organization says the response is catching up. Tedros anonam Gabriees
Speaker 7: has listed some challenges that remain, like scaling up testing
Speaker 7: and cutting back on delays in confirming cases.
Speaker 15: The number of suspected cases has now been reduced to
Speaker 15: one hundred sixteen from over one thousand last week as
Speaker 15: we worked through the bucklog either confirming them or ruling
Speaker 15: them out.
Speaker 7: Meanwhile, Kenya's health secretary says they will continue to work
Speaker 7: on an isolation and treatment unit at an airbase in
Speaker 7: the East African nation that can be used to house
Speaker 7: US servicemen exposed to the Ebola virus. Homeland Security Secretary
Speaker 7: Mark Wayne Mullen was questioned by the House Homeland Security
Speaker 7: Committee on ice Enforcement operations the current tensions at Delaney
Speaker 7: Hall in New Jersey came up. Protesters claim inhumane conditions
Speaker 7: inside the facility. Mullen claimed the protesters have been hostile
Speaker 7: toward his.
Speaker 8: Agents Delaney Hall.
Speaker 12: I've had officer's bit hit scratched.
Speaker 9: We had one get threatened.
Speaker 3: They were going to kill him and his family as peaceful.
Speaker 7: Delaney Hall, run by a private company, is being sued
Speaker 7: by New Jersey over conditions at the Newark facility. Incumbent
Speaker 7: New Jersey Congressman Tom Kane Junior has missed a slew
Speaker 7: of vote since March fifth, over what House Republicans say
Speaker 7: is a medical issue. House Speaker Mike Johnson says Cain
Speaker 7: told him what the issue was and a private phone call.
Speaker 7: Johnson says he needs a little longer to recover. Cain,
Speaker 7: who ran unopposed in Tuesday's primary, will face Democrat Rebecca Bennett.
Speaker 7: In November, there were watch parties across New York City
Speaker 7: as the next one game one of the NBA Finals
Speaker 7: against the Spurs in San Antonio, there was one giant
Speaker 7: watch party outside of the next home at Madison Square Garden.
Speaker 4: It's different being here, Miss We're better than watching a
Speaker 4: game by yourself at home like this.
Speaker 14: This is a Vibe.
Speaker 7: It's a represented for new more on the game in
Speaker 7: sports with John stash Hour in moments, global news twenty
Speaker 7: four hours a day and whenever you want it with
Speaker 7: the Bloomberg News Now Michael Barr and this is Bloomberg Karen.
Speaker 2: All right, Michael Barr, thank you, and it is time
Speaker 2: now for the Bloomberg Sports updating. We get more with
Speaker 2: John stash Hour, John, good morning you everyone to care.
Speaker 6: In the NBA finalds opener was a game of runs.
Speaker 6: The Spurs a twenty to three run and the first
Speaker 6: time they went from down seven to up ten. They
Speaker 6: built the lead to fourteen, and the Knicks then led
Speaker 6: by eight with five minutes to play, but with less
Speaker 6: than two minutes ago San Antonio backup.
Speaker 7: I won.
Speaker 6: That's when the Knicks scored the last eleven one game
Speaker 6: won one oh five to ninety five. The eleven nothing run,
Speaker 6: six free throws in two huge oops by Jalen bruns And,
Speaker 6: who scored thirty points and nicked coaches.
Speaker 8: Mike browt he he was the MDP in the second half.
Speaker 8: He was huge for us. He did what MVP candidates
Speaker 8: are supposed to do. He carried us home. We put
Speaker 8: the ball in his hands and he got it done
Speaker 8: for us down the stretch. But a good win. We
Speaker 8: have to keep taking it one game at a time
Speaker 8: and stay present and see what happens.
Speaker 6: So now twelve playoff wins in a row. They won
Speaker 6: the opener in the last round when they trailed by
Speaker 6: twenty two, this time from fourteen down. Josh Hart asked
Speaker 6: about the comebacks.
Speaker 10: Everybody in his locker room has had adversity, you know,
Speaker 10: and they wouldn't be here if they did it, and
Speaker 10: they wouldn't be here if they didn't make it. Food
Speaker 10: at adversity. So whenever we're down, we don't panic. Andy,
Speaker 10: continue to play our brand of basketball, and you know
Speaker 10: that's always you know, that's cool.
Speaker 6: Hard had fifteen rebounds. Nicks held the Spurs to thirty
Speaker 6: six percent shooting, Victor wembin Yama just six of twenty one.
Speaker 6: Game two tomorrow night at the Stadium, the Yankees, again
Speaker 6: without the injured Aaron Judge, again lost to Cleveland Guardians
Speaker 6: at three home runs up Garrett Cole and won five
Speaker 6: to four. Yanks day a gee behind Sampa Bay, who
Speaker 6: since winning twenty two of twenty six, has lost eight
Speaker 6: of ten. Mets had fourteen hits and a seven to
Speaker 6: one win at Seattle National. Has lost at third straight
Speaker 6: to Miami four to one. The Red Sox over Baltimore
Speaker 6: eight to one. Women's semifinals today at the French Open.
Speaker 6: With all the upsets, eight seeded Miro Andreva, the highest
Speaker 6: seeded player, left Diana Schneider back playing the day after
Speaker 6: her upset of top seed Arena Stable Night because she
Speaker 6: was one game from losing. Won the last ten games.
Speaker 6: John Stashie I went at Bloomberg Sports.
Speaker 2: Can you stay with us more from Bloomberg day Break
Speaker 2: coming up after this.
Speaker 3: Coast to coast on Bloomberg Radio nationwide on Serious Exam.
Speaker 5: And around the world on Bloomberg dot Com and the
Speaker 5: Bloomberg Business app.
Speaker 3: This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Iron
Speaker 3: peace effort seemed to be running through Israel and Lebanon
Speaker 3: this morning. The US says both those countries have agreed
Speaker 3: to a ceasefire if Iron backed hes Bula stops fighting.
Speaker 3: But President Trump says anything can happen.
Speaker 8: And I'd say you that.
Speaker 4: Part of the world cease fires when you're shooting in
Speaker 4: a more moderate.
Speaker 3: Better I was President Trump speaking from the Oval Office.
Speaker 3: We're joined this morning for more by Mark Champion, who
Speaker 3: covers the Middle East for Bloomberg Opinion. Mark, great to
Speaker 3: speak with you once again. It is a pretty big
Speaker 3: if if Hesbola stops fighting, isn't it good morning?
Speaker 1: Good morning? Yes, absolutely. I mean this is in a sense,
Speaker 1: this is a it's a good uh, it's it's a
Speaker 1: good step, you know. So what you want in Lebanon
Speaker 1: is for uh, the Lebanese government to be making these
Speaker 1: kinds of decisions to be filling the vacuum as Hezbollah
Speaker 1: is removed, and so it's it's it's a good framework.
Speaker 1: But there's a huge question as to whether Hesbola would
Speaker 1: want to do that. You know, this war they were
Speaker 1: very much on the back foot before February when the
Speaker 1: US and Israel attacked Iran. They have been badly damaged
Speaker 1: and they were looking quite weak politically within Lebanon. The
Speaker 1: war has actually you know, given them more strength. They've
Speaker 1: started using FPV drones that are creating problems for the
Speaker 1: Israeli military. So whether or whether they would want to
Speaker 1: kind of step back as a question whether the Iranian
Speaker 1: is going to press them to step back equally, a question.
Speaker 1: So we just have to wait and see.
Speaker 3: We've been watching headlines just this morning that fighting seems
Speaker 3: to be continuing in southern Lebanon between Israel and Hezbola
Speaker 3: as well.
Speaker 11: Well.
Speaker 3: How important is this for Iran when it comes to
Speaker 3: their peace talk track.
Speaker 2: With the US?
Speaker 7: Very very important.
Speaker 1: I mean, the Uranians have made clear throughout that they
Speaker 1: believe they're in a position where they can make demands,
Speaker 1: and one of the demand's key demands they have is
Speaker 1: that other theaters where their proxies are in conflict with
Speaker 1: Israel will be included in any peace deal. So, in
Speaker 1: other words, if they're going to agree to a peace deal,
Speaker 1: Israel will have to agree to, you know, cease fire
Speaker 1: in Lebanon. They've been less you know, adamant about Gaza,
Speaker 1: but that they've also mentioned in Gaza at various times
Speaker 1: as another front where they want to see a ceasefire.
Speaker 1: So the question for the Uranians is how badly do
Speaker 1: they want to deal and how you know, willing are
Speaker 1: they to carry on the conflict with the US to
Speaker 1: key the home moves straight closed on their side and
Speaker 1: the US side, which hurts you, we're on you know,
Speaker 1: in order to get a kind of full cease fire
Speaker 1: in eleven on on terms that they want.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
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