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Speaker 1: News when you want it. With Bloomberg News Now, I

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Speaker 1: made Kleggy. The stock market extended its advance into a

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Speaker 1: fourth consecutive week, with the down Jones Industrial Average closing

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Speaker 1: above the forty thousand mark Froddie for the first time

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Speaker 1: in its one hundred and twenty eight year history. Jeremy Siegel,

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Speaker 1: the Wharton School Professor emeritus of Finance, on where the

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Speaker 1: markets go from here, He says, it depends on what

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Speaker 1: the Fed does.

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Speaker 2: You know, there's this big question about whether the Fed

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Speaker 2: will cut or not. What I keep on saying is

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Speaker 2: there's good cuts and there's bad cuts. Bad cuts. If

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Speaker 2: the economy slows a lot, that's not going to be

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Speaker 2: good for the stock market. Good cuts. If inflation slose

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Speaker 2: with the economy strong, wow, that's going to you know,

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Speaker 2: continue to propel the market upwards. So it's not just

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Speaker 2: a matter of waiting for cuts, it's a question of

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Speaker 2: what will prompt those cut.

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Speaker 1: Jeremy Siegel, speaking with Bloomberg's Remain Bostick and Alex Steele.

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Speaker 1: The abrupt breakout happened at the very last minute of

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Speaker 1: Wall Street trading, after the market spent most of the

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Speaker 1: session fluctuating as traders digested the recent gains. The information

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Speaker 1: reports that Apple is developing a significantly thinner version of

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Speaker 1: the iPhone that could be released as early as twenty

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Speaker 1: twenty five. According to three people with direct knowledge of

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Speaker 1: the project, the slimmer iPhone could be released concurrently with

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Speaker 1: the iPhone seventeen, expected in September twenty twenty five. This

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Speaker 1: according to the three people with the direct knowledge and

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Speaker 1: two others familiar with the project, it could be priced

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Speaker 1: higher than the iPhone proms, currently Apple's most expensive model,

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Speaker 1: starting at twelve hundred dollars. The people familiar with the

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Speaker 1: project described the new iPhone, internally code named D twenty three,

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Speaker 1: as a major redesign, similar to the iPhone X, which

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Speaker 1: Apple marketed as a technological leap from previous generations and

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Speaker 1: which started at one thousand dollars when it was released

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Speaker 1: in twenty seventeen. Workers at two Mercedes Benz factory near Tuscaloosa, Alabama,

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Speaker 1: voted overwhelmingly against joining the United Auto Workers on Friday,

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Speaker 1: a setback in the union's drive to organize plants in

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Speaker 1: the historically non union South. The workers voted fifty six

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Speaker 1: percent against the union, according to totals, released by the UAW,

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Speaker 1: which had people watching the vote as it was counted

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Speaker 1: by the National Labor Relations Board. About fifty two hundred

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Speaker 1: workers were eligible to vote at an auto assembly plant,

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Speaker 1: at a battery factory, and a near Vance, Alabama, not

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Speaker 1: far from Tuscaloosa. The loss slows the union's effort to

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Speaker 1: organize one hundred and fifty thousand workers at more than

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Speaker 1: a dozen non union auto factories, largely in the South.

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Speaker 1: Federal Reserve Chair Jerome Powell tested positive for COVID nineteen

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Speaker 1: late Thursday, of head spokesperson set in a statement quote,

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Speaker 1: Chair Pal tested positive for COVID nineteen and is experiencing

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Speaker 1: symptoms following centers for disease control and prevention guidance. He

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Speaker 1: is staying away from others and working at home unquote.

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Speaker 1: The Fed chief was scheduled to speak at the commencement

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Speaker 1: ceremony at Georgetown Law School in Washington on Sunday. He

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Speaker 1: will deliver those remarks via pre recorded video. David Rubinstein Carlisle,

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Speaker 1: co founder and host of Peer to Peer on Bloomberg Television,

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Speaker 1: sattown with Homeland Security Secretary Alejandro Mayorcis at the Economic

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Speaker 1: Club of Washington Friday, Rubinstein and Mayorcus touched on a

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Speaker 1: number of issues, including TikTok. The DHS secretary says the

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Speaker 1: social media app is a threat.

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Speaker 3: Because many many young people that access TikTok. I would

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Speaker 3: posit that in this country we don't have the level

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Speaker 3: of digital literacy that I think we would all want.

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Speaker 3: We're all vulnerable to disinformation, and the reality is that

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Speaker 3: we have an obligation to safeguard against it. We're talking

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Speaker 3: about the intentional dissemination of false information.

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Speaker 1: Subscribe to the Bloomberg Talks podcast to hear more of

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Speaker 1: David Rubinstein's interview with Homeland Security Secretary Alejandra Mayorcis. Scotty Scheffler,

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Speaker 1: the world's top rank golfer, was arrested Friday on his

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Speaker 1: way to the PGA Championship after he tried to drive

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Speaker 1: into Valhalla Golf Club following an unrelated fatal traffic accident.

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Speaker 1: A detective was hospitalized after being dragged by Scheffler's vehicle

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Speaker 1: as Scheffler was attempting to drive around the crash scene.

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Speaker 1: After a police officer told him to stop, he was

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Speaker 1: pulled out of the car, handcuffed, and taken to jail.

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Speaker 1: Scheffler was released, returned to the course, made his tea

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Speaker 1: time and shot five under for the round. Round two

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Speaker 1: was suspended due to darkness. Play will resume Saturday at

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Speaker 1: seven am Eastern. Xander Schoffley is twelve under. He enjoys

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Speaker 1: a one shot lead. And that's news when you wanted

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Speaker 1: with Bloomberg news. Now I made Kleggy and this is

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Speaker 1: Bloomberg