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Speaker 1: Bloombool Business News twenty four hours a day at Bloomberg

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Speaker 1: dot com, the Radio plus mobile app, and on your radio.

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Speaker 1: This is a Bloomberg Business Flash, and good morning. I'm

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Speaker 1: John Tucker with this Bloomberg Business Flash being brought to

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Speaker 1: you by Sector Spider e t F s wide by

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Speaker 1: a single stock. When you can invest in the entire sector,

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Speaker 1: visits Sector s p d rs dot com or called

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Speaker 1: one six six Sector e t F. Some breaking news

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Speaker 1: across the Bloomberg right now, Renovation is rejecting Santa fees

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Speaker 1: unsolicited proposal. Also got some earnings today from the oil

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Speaker 1: major's Chevron Corporation, reporting a loss of seven hundred and

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Speaker 1: twenty five million dollars That works at the thirty nine

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Speaker 1: cents per deluded to share for the first quarter of sixteen.

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Speaker 1: Analysts we're looking for an eighteen cents loss, so it

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Speaker 1: was a much bigger than what they had anticipated. Also earlier,

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Speaker 1: excell On Mobile posting its weakest quarterly profit more than

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Speaker 1: in a decade, first quarter income falling to forty three

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Speaker 1: cents a share, but the per share result there was

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Speaker 1: fifteen cents above the twenty cent to average estimate of

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Speaker 1: analysts in at Bloomberg Survey and we had to Economic

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Speaker 1: News a few minutes ago. Worker pay of the US

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Speaker 1: rose as forecast in the first quarter six tenths of

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Speaker 1: repersent advance in the employment cost to index for the

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Speaker 1: prior three months, followed a half repercent increase in the

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Speaker 1: fourth quarter. It is actually smaller than previously estimated years

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Speaker 1: of employment gains if led to only gradual paid increases.

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Speaker 1: The bottom line there ahead of the market open on

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Speaker 1: Wall Street, s ANDP futures and seven seven points, that's

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Speaker 1: down three tenths of a percent. The DWAL futures down

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Speaker 1: fifty five, that's down three tenths. Avance Decate futures down

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Speaker 1: twenty points, that's down about a half a percent. Euro

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Speaker 1: today one four one sing dollar weakness again one oh seven,

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Speaker 1: twenty two. That's a little stronger right now. That's up

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Speaker 1: about eight tenths of a percent. Nimex screwed a thirty

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Speaker 1: six at forty six dollars thirty nine cents a barrel,

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Speaker 1: which at the markets for you every fifteen minutes during

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Speaker 1: the trading day right here on Bloomberg Radio, and back

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Speaker 1: to you, Michael and David's all right, thank you very

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Speaker 1: much John Tucker, it is on Wall Street. The following

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Speaker 1: is from Bloomberg View. Opinions and commentary from Bloomberg columnists.

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Speaker 1: I'm a magpreneuru, a columnist for Bloomberg View. Emmett Rensen

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Speaker 1: wants his fellow liberals to stop being so condescending. In

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Speaker 1: an essay for Vox, he dissects what he calls the

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Speaker 1: smug style of American liberalism, a style that attributes disagreement

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Speaker 1: with liberalism to stupidity and ignorance, and response to that

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Speaker 1: disagreement with mockery. It delights in evidence, however, dubious, that

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Speaker 1: liberals are intellectually superior to conservatives. Renson believes that this

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Speaker 1: style is weakened liberalism by alienating poor and working class

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Speaker 1: white voters. He's right that it would be better to

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Speaker 1: show these voters some respect, even better that it would

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Speaker 1: be Liberals considered that their opponents might occasionally be right

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Speaker 1: on some issues, even if they are rural, working class whites.

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Speaker 1: Rensen believes that liberals were wrong to ride Joe Kim Davis,

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Speaker 1: Kentucky's most famous county clerk. What's more important, though, is

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Speaker 1: that she had a point. Her job shouldn't have required

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Speaker 1: her to act contrary or conscience. Conservatives have now changed

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Speaker 1: the law to make this possible without harming anyone. The

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Speaker 1: great virtue that contemporary liberalism relax needs is neither civility

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Speaker 1: nor solidarity. It's humility, and sadly, even some of liberalism's

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Speaker 1: most thoughtful internal critics can't see it. I'm Panuru. For

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Speaker 1: more view, please go to Bloomberg View dot com or

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Speaker 1: if you go on the Bloomberg terminal, this has been

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Speaker 1: Bloomberg View. Bloomberg View commentaries can be heard hourly weekday

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Speaker 1: on Bloomberg Radio. They say is Bloomber Savant. I Michel

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Speaker 1: McKee along with David Garris sitting in today for Tom

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Speaker 1: Keene and David. We're watching the body politic. Uh rot

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Speaker 1: A little bit um. Unfortunately, another ugly scene out in California.

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Speaker 1: Yesterday's Donald Trump holds he holds a rally, um, A

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Speaker 1: lot of bad things said about immigrants, and then a

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Speaker 1: lot of protesters outside. I got a little violence, yeah, unfortunately. Uh.

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Speaker 1: Brett Bair is the host of Fox News Special Report,

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Speaker 1: and of course you can hear Fox News Sunday here

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Speaker 1: on Bloomberg Radio every Sunday at ten o'clock and at

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Speaker 1: two o'clock you keep up with all the latest from

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Speaker 1: the opinion thought leaders on what's left of the body politic.

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Speaker 1: And I sort of say that, Brett, because it it

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Speaker 1: does seem for a while the campaign was was weird.

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Speaker 1: Now it seems to be getting ugly. Yeah, good morning. Um.

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Speaker 1: There have been a few events that have definitely gone

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Speaker 1: over um overboard, and they have um, you know, the

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Speaker 1: the anger um on both sides is actually is real.

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Speaker 1: Some of those protests are manufactured by obviously people who

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Speaker 1: are opposed to Donald Trump to begin with, but some

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Speaker 1: of it is stirred up and it's a real problem

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Speaker 1: out on out on the trail. I think we're going

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Speaker 1: to see a bumpy road to Cleveland. But I think

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Speaker 1: Donald Trump is an position to to sew it up

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Speaker 1: to get to the majority. Twelve thirty seven, uh delgates

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Speaker 1: needed before you get to July A Teams sticking with

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Speaker 1: California here, as somebody who wrote for his college newspaper,

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Speaker 1: I was very excited to see this article in the

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Speaker 1: Stanford Daily. Amused by the headline, which, in classic college

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Speaker 1: newspaper fashion, did not two more than literally tell you

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Speaker 1: what it happened. John Baynard talks election time in office.

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Speaker 1: But John Baynard went to Stanford University, did a conversation

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Speaker 1: with a history professor there, uh, and made some shall

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Speaker 1: we say, frank comments about Ted Cruz. Uh what did

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Speaker 1: you make of this Brett and and the effect it's

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Speaker 1: having here the backdrop being here of course Ted Cruise

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Speaker 1: naming Carl Furia to be his running mate. Yeah. Well,

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Speaker 1: I think John Baynor's filter is gone, and uh, he's

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Speaker 1: freewheeling outside of Washington. He was asked about the GOP race.

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Speaker 1: He said Donald Trump was a golf and texting buddy

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Speaker 1: and then said, uh, Ted cruises Lucifer in the flesh

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Speaker 1: and said he's a miserable s ob to work with.

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Speaker 1: And uh, I think that for Ted Cruz on the

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Speaker 1: campaign in this environment is not a bad thing to

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Speaker 1: have establishment John bran Bander talking about it like that. Uh,

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Speaker 1: And Cruiz is trying to turn it around and use

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Speaker 1: it as he's the outsider who's who's pushing the establishment. Um.

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Speaker 1: But on the in Washington, I think you know, you

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Speaker 1: have others like Peter King out this morning saying, um,

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Speaker 1: it makes Lucifer look good, And I think you have

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Speaker 1: a lot of people who's filter is gone in this

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Speaker 1: election and that feel compelled to talk about it. Well,

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Speaker 1: it suggests that UM, Republicans are are making their peace

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Speaker 1: with Trump as nominee, in whatever kind of peace Uh

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Speaker 1: they can uh. David Brooks fascinating column today, of course,

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Speaker 1: the conservative writer, uh, columnist for the New York Times.

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Speaker 1: He calls it a Joe McCarthy moment. People will be

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Speaker 1: judged by where they stood at this time. Those who

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Speaker 1: walked with Trump will be tainted forever. Uh. How does

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Speaker 1: that jibe with the sentiment you pick up in Washington?

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Speaker 1: It is so amazing to see the split here. You know,

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Speaker 1: you've had hashtag never Trump and then hashtag always Trump,

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Speaker 1: and I think we've gotten to the hashtag eventually Trump

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Speaker 1: with a lot of establishment times. But David Brooks writes

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Speaker 1: a very I mean, it's definitely worth the read today. UM,

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Speaker 1: I don't know how the Republican Party unifies after the

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Speaker 1: convention to effectively run a race um with that kind

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Speaker 1: of split, and we'll see. I don't know if Hillary

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Speaker 1: Clinton is the unifying factor that changes the dynamic. But

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Speaker 1: I don't know if you were at that speech that

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Speaker 1: Donald Trump gave at the Mayflower Hotel. I was not

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Speaker 1: there a speech there on foreign policy a format different

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Speaker 1: than what we've seen him in a deliver before, in

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Speaker 1: a in a setting different from what we've seen before. Uh.

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Speaker 1: He's making an effort, it seems to to try to

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Speaker 1: bridge that gap, to suggest that he is, uh, he

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Speaker 1: could be more palatable to the establishment. What did you

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Speaker 1: make that speech? Well, I think you're right, it was

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Speaker 1: an effort to touch some Republican themes that they want

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Speaker 1: to hear. I think more important, uh, two Republicans here

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Speaker 1: in Washington is to see the list of names he's

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Speaker 1: potentially going to name for the Supreme Court, to see

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Speaker 1: some other wise men potentially that were women on his cabinet. Uh.

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Speaker 1: And if he can surround himself ahead of the convention

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Speaker 1: with big names and and big decisions, that may change

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Speaker 1: the dynamic. Well. The speech are certainly panned by Europeans

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Speaker 1: and by a lot of people in the foreign policy

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Speaker 1: establishment in Washington. Yeah, the America first thing is definitely

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Speaker 1: touches on the populous tone. Um. But the way he

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Speaker 1: talks about it is not traditionally the way that Republicans

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Speaker 1: have run foreign policy. So you know, I've heard some

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Speaker 1: people say that Donald Trump would potentially be on some

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Speaker 1: issues in foreign policy to the left of Hillary Clinton. Well,

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Speaker 1: I gotta ask you before we let you go here

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Speaker 1: this this is a NERD prom weekend. And who's your guest?

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Speaker 1: Who's your guest? For the White House Corresponds Association dinner? Uh,

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Speaker 1: you know we I'm not even sure what table I'm

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Speaker 1: sitting at, but they the Fox. They have a whole

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Speaker 1: bunch of stars and sports figures that are coming in

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Speaker 1: and it's it's always interesting. This weekend is NonStop, and

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Speaker 1: it's Washington patting Washington on the back. So the big

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Speaker 1: thing is to get the Sunday. It's gotta be weird.

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Speaker 1: You know, you get some movie star or or Broadway

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Speaker 1: actor or some sports star and you're shooting at the

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Speaker 1: table with them and they look at you and go wow,

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Speaker 1: Brett mayor hopefully, hopefully they say that. Last year I

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Speaker 1: sat next to Sir Patrick Stewart from Star Trek. He's

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Speaker 1: I saw him in uh in uh Macbeth here at

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Speaker 1: the Brooklyn Academy and it was terrific. Have a great weekend,

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Speaker 1: enjoy uh, enjoy the dinner. Yeah, and uh and of

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Speaker 1: course we will watch him on Fox News Special Report,

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Speaker 1: and we will listen to the Fox on Fox News

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Speaker 1: Sunday ten and two o'clock. Here on Bloomberg Radio, well,

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Speaker 1: we're watching the markets. We are now about a half

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Speaker 1: hour away from the open, and does look, David, like

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Speaker 1: we're going to have a down open. Futures continue to

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Speaker 1: deteriorate here, SMP features off by eight, Dow futures down

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Speaker 1: by sixty nine right now and as Night features are

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Speaker 1: off by three. I'm gonna leave the show and now

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Speaker 1: and go off on assignment. But David will be here

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Speaker 1: through the rest of Bloomberg Surveillance Special Offer on Friday,

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Speaker 1: another hour of the program with David Garra here on

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Speaker 1: Bloomberg RADI