WEBVTT - Bloomberg Daybreak: May 25, 2022 - Hour 2 (Radio) 0:00:01.440 --> 0:00:04.800 From the Bloomberg Interactive Burger Studios. This is Bloomberg day 0:00:04.840 --> 0:00:09.400 Break for Wednesday two. Coming up this hour, President Biden 0:00:09.480 --> 0:00:13.040 reacts to another deadly school shooting. We will not forget. 0:00:13.680 --> 0:00:16.919 We can do so much more. We have to do more. 0:00:17.200 --> 0:00:20.720 Plus candidates fact by Donald trumple loose and win primaries 0:00:20.760 --> 0:00:23.320 in Georgia, and the FED releases minutes from its May 0:00:23.400 --> 0:00:25.800 policy meeting. The n y p D says there has 0:00:25.840 --> 0:00:28.360 been an arrest in a deadly subway shooting. Plus the 0:00:28.400 --> 0:00:31.200 second ship in the Baby formula and overseas arrives in 0:00:31.280 --> 0:00:33.800 the US today. I'm Michael blar more a half. I 0:00:33.960 --> 0:00:36.640 was got Sevomburg, the Rangers even up their playoff series, 0:00:36.640 --> 0:00:39.120 the Yankees staff there losing shriek, and the Mets losing 0:00:39.200 --> 0:00:41.720 wild Water out West. I'll have that more coming up 0:00:41.720 --> 0:00:47.000 in sports. That's all s training head on Bloomberg Daybreak 0:00:47.320 --> 0:00:51.640 on Bloomberg eleven three on New York, Bloomberg one, Washington, 0:00:51.760 --> 0:00:55.800 d C, Bloomberg one oh six one, Boston, Bloomberg nine sixty, 0:00:55.880 --> 0:01:00.000 San Francisco, Sirius XAM one nineteen and around the world 0:01:00.000 --> 0:01:03.120 Old on Bloomberg Radio dot Com and via the Bloomberg 0:01:03.120 --> 0:01:10.080 Business app and good morning. I'm Karen Moscow and I'm 0:01:10.160 --> 0:01:12.320 John Tucker Bloomberg Day Gregg being drunt you by B 0:01:12.440 --> 0:01:15.920 and Y Melon. Persian's Inside Conference back in person June 0:01:15.959 --> 0:01:19.760 fifteenth through the seventeenth at the Gaylord Resort in Grapevine, Texas. 0:01:20.080 --> 0:01:22.280 Don't miss it. Runches are now at the inside dot 0:01:22.560 --> 0:01:25.679 B and y Melon dot com, and US futures are 0:01:25.720 --> 0:01:29.120 a little change this morning. Ten year Treasury also little changed, 0:01:29.160 --> 0:01:31.560 up one thirty second yell two point seven four percent 0:01:31.680 --> 0:01:34.000 yield on the two year two point five one percent. 0:01:34.480 --> 0:01:36.399 Nine X screwed oil is at one and a half 0:01:36.400 --> 0:01:38.680 percent of a dollar sixty nine and a hundred eleven 0:01:38.680 --> 0:01:41.000 dollars forty six cents in barrel. And look at a 0:01:41.080 --> 0:01:43.800 bitcoin this morning. It's higher a more than one percent, 0:01:43.840 --> 0:01:47.000 at twenty nine eight hundred dollars. John and Karen will 0:01:47.000 --> 0:01:49.440 have more on the markets in a minute. First, the 0:01:49.480 --> 0:01:52.639 latest on the deadly shooting at the US grade school, 0:01:53.080 --> 0:01:56.320 the deadliest shooting at a US grade school since Sandy 0:01:56.360 --> 0:02:00.200 Hook Elementary in Connecticut. At least nineteen children at two 0:02:00.280 --> 0:02:03.640 adults were killed by an eighteen year old gunman at 0:02:03.640 --> 0:02:07.120 a Texas elementary school. The shooting is drawn emotional and 0:02:07.240 --> 0:02:11.600 angry reaction from President Biden. Bloomberg's at Baxter has more 0:02:12.080 --> 0:02:15.560 Biden tapping into the anguish to lose a child, It 0:02:15.680 --> 0:02:19.440 was like having a soul rot and pivoting quickly to 0:02:19.520 --> 0:02:22.400 gun control. As a nation. We have to ask when 0:02:22.560 --> 0:02:25.560 in God's name we're going to stand up to the 0:02:25.600 --> 0:02:29.040 gun Mommy and answers when we passed his saw weapons pan, 0:02:29.960 --> 0:02:34.960 mass shootings went down. When the law expired, mass shootings triple, 0:02:35.200 --> 0:02:37.960 the President saying it's time for Congress to move back 0:02:38.280 --> 0:02:41.040 in San Francisco, I'm at Baxter Bloomberg day break. All right, 0:02:41.080 --> 0:02:44.000 thanks said, And in the interest of transparency, we should 0:02:44.000 --> 0:02:47.200 know Blankael Bloomberg, founder majority owner of Bloomberg Elpy, the 0:02:47.200 --> 0:02:49.440 parent of Bloomberg Radio, is a donor to groups that 0:02:49.520 --> 0:02:53.200 support gun control. Well. The Texas shooting took place just 0:02:53.360 --> 0:02:55.800 ten days after a gun and opened fire at a 0:02:55.840 --> 0:02:59.960 Buffalo supermarket in a racist attack. Anger overflowed among Amerry 0:03:00.000 --> 0:03:03.040 agains who have long demanded legislation to prevent gun violence. 0:03:03.200 --> 0:03:07.280 Bloomberg Politics contributor Genie she haan Zano discussed the issue 0:03:07.320 --> 0:03:10.680 with Bloomberg Joe Matthew, It's never too early to start 0:03:10.680 --> 0:03:14.400 talking solutions because this is not again an isolated incident. 0:03:14.520 --> 0:03:18.200 This change of politics good backfire, It can backfire, but 0:03:18.280 --> 0:03:22.160 you know what that should be nobody's concern, and particularly 0:03:22.240 --> 0:03:24.800 this presidents. This is going on and on. It has 0:03:24.840 --> 0:03:27.600 to be addressed. The problem is can you move anything 0:03:27.680 --> 0:03:30.640 like this through the US Congress today? And sadly the 0:03:30.680 --> 0:03:34.840 answer is no. Bloomberg Politics contributor Genie she hans Zano 0:03:34.920 --> 0:03:37.400 speaking with Joe Matthew on Bloomberg Sound On. Catch the 0:03:37.400 --> 0:03:40.120 program weekdays at five pm Eastern on Bloomberg. Right you, 0:03:40.440 --> 0:03:43.720 And another major story we're following this morning, the key 0:03:43.760 --> 0:03:46.960 primary races across the country. We begin to Georgia, where 0:03:47.000 --> 0:03:50.240 Candida is backed by President Donald Trump, had both won 0:03:50.440 --> 0:03:55.040 and lost. Amy Morris has details from our Bloomberg newsroom 0:03:55.160 --> 0:03:59.000 in Washington. Georgia Governor Brian Kemp and Secretary of State 0:03:59.040 --> 0:04:02.880 Brad Ravensburger, both targets of former President Donald Trump, both 0:04:02.920 --> 0:04:06.440 won their primaries. Camp beat David Purdue with seventy three 0:04:06.440 --> 0:04:08.680 point seven percent of the vote, and we'll face off 0:04:08.720 --> 0:04:13.040 against Democrats Stacy Abrams, who ran unopposed Ravensburger beat Jodie 0:04:13.080 --> 0:04:15.240 his with fifty two point two percent of the vote. 0:04:15.480 --> 0:04:18.960 Former football great Herschel Walker, who was also backed by Trump, 0:04:19.160 --> 0:04:22.120 won the GOP Senate primary with sixty eight point three 0:04:22.120 --> 0:04:25.320 percent of the vote, and he'll face Democrat incumbent Raphael Warnock, 0:04:25.440 --> 0:04:27.719 who won with nearly nineties six percent of the vote. 0:04:27.839 --> 0:04:31.160 Marjorie Taylor Green one her GOP House primary with sixty 0:04:31.200 --> 0:04:33.719 nine point five percent of the vote in Washington. I'm 0:04:33.720 --> 0:04:36.080 Amy Morris, Bloomberg Daybreak. All right, Amy, thank you. We 0:04:36.160 --> 0:04:38.760 continue our team coverage of those primary races now, but 0:04:38.800 --> 0:04:41.240 they'll get some other results and Bloomberg's rned A Young 0:04:41.360 --> 0:04:44.400 joins US Live with Moore. Good morning, Nita, Karen, Good morning. 0:04:44.480 --> 0:04:48.160 The Republican Senate primary heads into a runoff in Alabama 0:04:48.400 --> 0:04:52.239 with Katie Britt and US Representative Moe Brooks. Britt garnered 0:04:52.839 --> 0:04:55.560 percent of the vote to twenty nine percent for Brooks. 0:04:55.920 --> 0:04:59.359 Former White House Press Secretary Sarah Sanders wins the GOP 0:04:59.480 --> 0:05:03.360 nomination for governor in Arkansas with three of the vote, 0:05:03.640 --> 0:05:07.560 and Texas Attorney General Ken Paxton wins the GOP nomination 0:05:07.600 --> 0:05:10.719 for re election with nearly sixty eight percent of the vote. 0:05:11.000 --> 0:05:13.960 He was up against a member of the Bush political dynasty, 0:05:14.279 --> 0:05:17.760 beating George P. Bush in the contest. Paxton is still 0:05:17.839 --> 0:05:22.880 under indictment for securities fraud and an FBI investigation. Live 0:05:22.880 --> 0:05:25.279 in New York, I'm gonna need a young Bloomberg day break, 0:05:25.440 --> 0:05:28.600 and turning to the markets. US futures right now, they 0:05:28.640 --> 0:05:31.480 are higher following a late day roundy on Wall Street 0:05:31.760 --> 0:05:34.080 which saw the down Jones industrial average, clothes higher in 0:05:34.120 --> 0:05:37.160 the s and P five hundred pair losses. FED policy 0:05:37.200 --> 0:05:40.160 continues to dominate market moves, and today we're gonna get 0:05:40.160 --> 0:05:43.279 more clues on how high interest rates may go and 0:05:43.360 --> 0:05:46.720 how fast. The FED releases minutes from its policy meeting 0:05:46.720 --> 0:05:50.520 at two pm Wall Street time. Bloomberg's Michael McKee has details, 0:05:50.839 --> 0:05:53.960 and unusually open FED has all that promised to consecutive 0:05:54.000 --> 0:05:57.479 half percentage point RADI increases in June and July. What 0:05:57.600 --> 0:06:01.320 they haven't publicly agreed on is what howapens after that. 0:06:01.320 --> 0:06:03.640 That's why investors and endlysts will be parsing the minutes 0:06:03.680 --> 0:06:06.599 of their main meeting for clues to how far FED 0:06:06.640 --> 0:06:10.279 officials think they need to go and how quickly something 0:06:10.320 --> 0:06:13.279 else to look for move away from discussing the concept 0:06:13.320 --> 0:06:17.480 of a neutral rate target in favor of following financial conditions, 0:06:17.720 --> 0:06:21.520 which have tightened significantly the past two months. If that continues, 0:06:21.640 --> 0:06:24.760 they may not have to raise rates as much. Michael McKee, 0:06:24.800 --> 0:06:28.520 Bloomberg Daybreak, All right, Michael, thank you. Highly anticipated Twitter 0:06:28.640 --> 0:06:31.240 shareholder meeting also takes place today, and we get a 0:06:31.240 --> 0:06:34.480 preview from Bloomberg's Tom Busby. Well, you can expect a 0:06:34.520 --> 0:06:37.919 tumultuous meeting today, and it's all about money. Forty four 0:06:38.160 --> 0:06:42.000 billion dollars. Twitter's board says Elon Musk's forty four billion 0:06:42.000 --> 0:06:44.520 dollar agreement to buy the site is a done deal. 0:06:44.640 --> 0:06:47.600 There's no negotiating on the sale price, and it's urging 0:06:47.640 --> 0:06:51.520 its shareholders to approve the deal. But Musk is balking, 0:06:51.600 --> 0:06:54.400 saying he'll only move forward if the company is transparent 0:06:54.440 --> 0:06:57.200 about all the fake bots and spam accounts on the platform. 0:06:57.279 --> 0:07:00.480 Many think that Musk either as cold feet about agreement 0:07:00.560 --> 0:07:04.400 or is merely angling for a sharply lower price. Tom Busby, 0:07:04.560 --> 0:07:07.560 Bloomberg Daybreak, All right, Tom, thank you, And right now, 0:07:07.640 --> 0:07:10.280 futures are high er s ANDP futures up about six 0:07:10.280 --> 0:07:13.000 points down. Future is up sixteen. Nastack Future is up 0:07:13.000 --> 0:07:15.760 twenty four trying to hand your latest local headlines plus 0:07:15.800 --> 0:07:23.520 a check of sports. And this is Bloomberg. All right, thanks, 0:07:23.560 --> 0:07:26.000 Karen six said on Wall Streets. Time to bring in 0:07:26.080 --> 0:07:28.160 Michael Barr to find out what else is going on 0:07:28.280 --> 0:07:31.000 in New York and around the world. John, thank you 0:07:31.080 --> 0:07:34.120 very much. Sarah Man, suspected of abruptly pulling a gun 0:07:34.160 --> 0:07:36.920 and killing a stranger on a New York City subway train, 0:07:37.040 --> 0:07:40.600 has been arrested. Police say they don't yet know what 0:07:40.760 --> 0:07:45.160 motivated the apparently unprovoked attack. Andrew Abdulla was taken into 0:07:45.200 --> 0:07:48.080 custody hours after the thirties posted his name and photo 0:07:48.400 --> 0:07:51.800 on social media and implored the public to help find 0:07:51.840 --> 0:07:55.960 a New York Mayor Eric Adams, the fact is he 0:07:56.200 --> 0:08:00.520 is the posted child of many people who leave they 0:08:00.520 --> 0:08:05.320 can create violence without any repercussion at all. Mayor Adams 0:08:05.360 --> 0:08:08.160 says the year old is expected to face a murder 0:08:08.320 --> 0:08:12.240 charge in the death of forty eight year old Daniel Enriquez. Earlier, 0:08:12.280 --> 0:08:15.320 Mayor Adams commented on a report from the National Oceanic 0:08:15.400 --> 0:08:19.440 and Atmospheric Administration NOAH released their predictions for the Atlantic 0:08:19.520 --> 0:08:23.480 hurricane season outlook predicting an above normal storm season for 0:08:23.640 --> 0:08:26.280 a seventh year in a row and up to six 0:08:26.360 --> 0:08:30.400 major hurricanes impacting the country. Adams says it is essential 0:08:30.400 --> 0:08:33.920 for New Yorkers to understand their risks and evacuation plans 0:08:34.000 --> 0:08:38.120 before these kinds of weather events struk. Coastal storms, hurricanes, 0:08:38.200 --> 0:08:43.400 and floods. UH preparation is everything, and today this announcement 0:08:43.800 --> 0:08:47.880 is allowing all of our agencies and New Yorkers to 0:08:48.040 --> 0:08:51.600 be prepared. Mayor Adams reflected on Hurricane Ida, which killed 0:08:51.640 --> 0:08:54.920 more than a dozen New Yorkers last fall. With flash floods. 0:08:55.440 --> 0:08:58.920 Representative Antonio del Ghana will be sworn in as New 0:08:59.000 --> 0:09:02.600 York's Lieutenant govern Their Governor Kathy Hokel will swear in 0:09:02.679 --> 0:09:06.599 Delgado today. Senate Majority Leader Chuck Schumer wants the opportunity 0:09:06.679 --> 0:09:09.960 to debate domestic terrorism on the floor of the Senate. 0:09:10.480 --> 0:09:13.600 It's a simple question, should the Senate consider a bill 0:09:13.679 --> 0:09:17.200 to crack down on domestic terrorism and extremism? Yes? Or no. 0:09:18.480 --> 0:09:22.160 We need to take the first step to fight domestic terrorism. 0:09:22.720 --> 0:09:26.040 We'll see where everyone falls. Senator Schumer of New York 0:09:26.160 --> 0:09:29.640 also called against voter suppression. First Lady Jill Biden and 0:09:29.679 --> 0:09:33.160 Surgeon General Doctor Vivic Murphy will greet the arrival of 0:09:33.160 --> 0:09:37.000 the second shipment of Baby Formula through Operation Fly Formula 0:09:37.400 --> 0:09:40.920 FedEx Plaine, traveling from Germany. Pact with Formula lands today 0:09:40.960 --> 0:09:44.240 at Dullest Airport outside of Washington. South Korea says it 0:09:44.280 --> 0:09:47.960 appears North Korea has test launched an intercontinental ballistic missile. 0:09:48.320 --> 0:09:51.480 The South says the North also tested to other missiles. 0:09:51.960 --> 0:09:54.440 Global News twenty four hours a day on air and 0:09:54.600 --> 0:09:58.000 on Bloomberg Quicksake, powered by more than twenty seven hundred 0:09:58.040 --> 0:10:00.559 journalists and analysts, more than a dwy Ton three. I'm 0:10:00.600 --> 0:10:08.120 Michael Barr. This is Bloomberg, John, Michael, Thank you. Andy 0:10:08.240 --> 0:10:10.760 is now six ten on wool Street. Time for the 0:10:10.760 --> 0:10:14.960 Bloomberg Sports Update. Good morning, Scott Sideberg, Good morning John. 0:10:15.000 --> 0:10:17.400 The Rangers beat the Hurricanes FLO one to even up 0:10:17.440 --> 0:10:19.880 their playoff series at two games a piece. Frank for 0:10:19.960 --> 0:10:21.920 trying to open up the scoring on the power play. 0:10:22.160 --> 0:10:25.440 Adam Fox because advantage. Ad and Andrew Copp also scored, 0:10:25.440 --> 0:10:30.000 while Igor Shusturkin made thirty saves. Here was Gerard Glant competed? 0:10:30.080 --> 0:10:32.240 Heard the first payer was probably the best payerd of 0:10:32.280 --> 0:10:35.000 hockey I seen this year from Bowl team, not just us. 0:10:35.040 --> 0:10:37.960 It was death, back and forth. It was I thought 0:10:37.960 --> 0:10:40.280 it could have been four tu per I thought less 0:10:40.320 --> 0:10:43.640 after the first player of goals. Withstanding elsewhere, the Oilers 0:10:43.679 --> 0:10:45.880 took a three one series lead over the Flames with 0:10:45.960 --> 0:10:49.400 a five three win. NBA Playoffs last night, the Mavericks 0:10:49.440 --> 0:10:52.800 avoid elimination, beating the Warriors one nineteen one On nine. Tonight, 0:10:52.840 --> 0:10:55.800 Eastern Conference Finals Game five, the Heat and Celtics tied 0:10:55.840 --> 0:10:58.720 at two games apiece. Jose Trevino, with a big name 0:10:58.760 --> 0:11:00.760 for the Yankees the solo We're in the third, a 0:11:00.840 --> 0:11:03.000 game time single in the seventh, and the walk off 0:11:03.120 --> 0:11:05.360 winner in the bottom of the eleventh, as the Yankee 0:11:05.400 --> 0:11:07.839 snapped their season high three game losing streak, beating the 0:11:07.880 --> 0:11:10.959 Orioles seven six. The Medicine Giants playing a back and 0:11:11.080 --> 0:11:13.800 forth game last night in San Francisco, the Mets scoring 0:11:13.920 --> 0:11:16.720 ten runs in the seventh, eighth, and ninth innings combined. 0:11:17.120 --> 0:11:19.520 They erase a six run Deafens hit, but would lose 0:11:19.600 --> 0:11:21.600 in the bottom of the ninth and when Daz allowing 0:11:21.640 --> 0:11:25.600 four hits, including the walkoff single to Brandon Crawford twelve, 0:11:25.760 --> 0:11:29.320 the final tennis at the French Open, Joe Wilfred Sanga's 0:11:29.400 --> 0:11:31.920 career comes to an end. He loses in the first 0:11:32.040 --> 0:11:34.599 round and retires at the age of thirty seven with 0:11:34.760 --> 0:11:39.040 eighteen career titles. Elsewhere, Americans Madison Keys and Jessica Pegoula 0:11:39.320 --> 0:11:43.120 advanced on the women's side. I'm Scott Seedinberg with Bloomberg Sports. 0:11:43.360 --> 0:11:46.200 John all right, thanks Scott, and ahead of the Casha 0:11:46.320 --> 0:11:49.360 Open on Wall Street, we have down futures right now 0:11:49.559 --> 0:11:53.400 twenty four points higher, SMP futures they are up seven 0:11:53.480 --> 0:11:56.959 points and the nights day futures thirty points higher, and 0:11:57.160 --> 0:12:00.640 we have the tenure yield the benchmark at to seventy 0:12:00.720 --> 0:12:08.040 five unchanged. This is Bloomberg Day Break, and just ahead 0:12:08.120 --> 0:12:11.520 we'll speak with Gregg Valier, the chief policy strategist at 0:12:11.640 --> 0:12:14.560 a GF. We'll take a deeper dive into the mass 0:12:14.600 --> 0:12:22.520 shooting in Texas and the results. All the primaries, markets, 0:12:22.640 --> 0:12:25.640 headlines and breaking news twenty four hours a day at 0:12:25.720 --> 0:12:29.640 Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktake. 0:12:29.920 --> 0:12:39.160 This is a Bloomberg Business Lash and I'm Karen Moscow 0:12:39.280 --> 0:12:43.720 and futures are little change. This morning, nasdack futures are higher, 0:12:43.840 --> 0:12:46.400 up about twelve points, and the decks in Germany is 0:12:46.440 --> 0:12:48.720 up about a quarter percent. The tend your treasury that'll 0:12:48.840 --> 0:12:51.719 change you'll two point seven and the yield on the 0:12:51.760 --> 0:12:55.400 two year two point five. It is six seventeen on 0:12:55.520 --> 0:12:58.400 Walla Street. Time for your daily Bloomberg Crypto update. It 0:12:58.520 --> 0:13:01.319 is brought to you by Interactor Brokers. It charges margin 0:13:01.400 --> 0:13:03.520 loan race from one point three three percent to two 0:13:03.559 --> 0:13:06.440 point three three percent. Right something to change. Learn more 0:13:06.480 --> 0:13:09.760 at ibker dot com. Slash compare now with the Legician. 0:13:09.760 --> 0:13:13.280 Crypto News shares Bloomberry Shrandy to young Randy Karen. Right now, 0:13:13.360 --> 0:13:16.840 Bitcoin is trading close to thirty thousand. It's been hovering 0:13:16.880 --> 0:13:20.160 around this level ever since the terror USD stable coin 0:13:20.280 --> 0:13:23.360 collapse trigger to sell off in cryptocurrencies, so it's a 0:13:23.400 --> 0:13:25.160 good time to check in on the first country to 0:13:25.240 --> 0:13:28.960 declare bitcoin as legal tender, El Salvador, is currently down 0:13:29.040 --> 0:13:32.480 about thirty five percent. That's nearly forty million dollars on 0:13:32.640 --> 0:13:35.400 the two thousand, three hundred and one bitcoin. It's president 0:13:35.520 --> 0:13:39.240 bought with public funds since making it legal tender last year. 0:13:39.640 --> 0:13:43.560 The nation's finance minister says Bitcoin's recent price dip has 0:13:43.640 --> 0:13:46.360 even scared away potential buyers of a planned one billion 0:13:46.440 --> 0:13:50.160 dollar bitcoin backed bond, but none of this has stopped 0:13:50.200 --> 0:13:53.880 the crypto touting President. He bought another five hundred coins 0:13:54.040 --> 0:13:56.640 just last month. You know who else. It hasn't stopped 0:13:57.000 --> 0:14:00.360 us Miami mayor Francis Suarez, who says, hey, I'll still 0:14:00.400 --> 0:14:03.000 take my city salary in bitcoin, thank you very much, 0:14:03.360 --> 0:14:05.960 even after a route that sent the crypto down almost 0:14:06.800 --> 0:14:10.120 over the past two months. Suarez wants to promote Miami 0:14:10.240 --> 0:14:12.679 as a crypto and tech center, and he made the 0:14:12.720 --> 0:14:16.520 comments to a panel at the World Economic Forum in Davos, Switzerland. 0:14:16.960 --> 0:14:19.960 Metro Bloomberg Crypto Update Live in New York. I'm reneed 0:14:20.040 --> 0:14:22.400 a young Bloomberg Daybreak. Karen, all right, we need to 0:14:22.480 --> 0:14:24.800 thank you, and that's a Bloomberg business flash. Now here's 0:14:24.840 --> 0:14:27.120 Michael Barr with Moore. I'm what's going on around the world, 0:14:27.240 --> 0:14:30.440 Michael Karen, An eighteen year old gunman opened fire at 0:14:30.480 --> 0:14:33.880 a Uvaldi, Texas elementary school, killing at least nineteen children 0:14:33.960 --> 0:14:37.240 and two adults before he was killed by law enforcement. Later, 0:14:37.440 --> 0:14:41.240 a visibly angry President Biden addressed the nation renewing his 0:14:41.360 --> 0:14:44.360 call for the reform of gun laws. When we passed 0:14:44.400 --> 0:14:48.240 a sault weapons pan, my shootings went down when the 0:14:48.320 --> 0:14:53.680 law expired, my shooting triple. Georgia Governor Brian Kemp has 0:14:53.760 --> 0:14:57.680 easily beat Donald Trump's hand pick challenger in a Republican primary, 0:14:57.800 --> 0:15:01.240 former Senator David Purdue. Kemp guy seventy eight percent, Perdue 0:15:01.320 --> 0:15:05.080 received twenty two percent. In the NHL playoffs, the Rangers 0:15:05.120 --> 0:15:08.040 beat the Hurricanes. Baseball, the Yankees beat the Orioles. The 0:15:08.160 --> 0:15:10.880 Mets lost to the Giants. The Red Sox and the 0:15:11.040 --> 0:15:14.720 A's one. The Nationals lost in the NBA playoffs. The 0:15:14.760 --> 0:15:18.040 Mavericks stay alive as they beat the Warriors. Global News 0:15:18.080 --> 0:15:20.240 twenty four hours a day on air and on Bloomberg 0:15:20.320 --> 0:15:24.000 Quick Take, powered by more band journalists and analysts more 0:15:24.000 --> 0:15:27.640 than a hundred twenty countries. Michael Barr, This is Bloomberg, John, Michael, 0:15:27.680 --> 0:15:30.960 thank you very much. Is six twenty on Wall Street. 0:15:31.000 --> 0:15:33.520 We are live from the Bloomberg Interact of Broker Studios. 0:15:33.560 --> 0:15:37.000 This is Bloomberg Daybreak. Families in Texas will spend this 0:15:37.120 --> 0:15:41.080 holiday weekend bearing their children, nineteen of them and two 0:15:41.120 --> 0:15:44.600 of their teachers. In response you heard President Biden asking 0:15:44.720 --> 0:15:46.680 when are we going to stand up to the gun lobby. 0:15:46.840 --> 0:15:50.000 Let's take a deeper dive into the shooting this warning 0:15:50.640 --> 0:15:54.040 and will also examine the latest primary results. Joining us now, 0:15:54.160 --> 0:15:57.800 Gregg Valley, or chief US policy strategist at a GF Investment, 0:15:58.240 --> 0:16:00.680 I wish you could be under better circums dances, Greg, 0:16:01.080 --> 0:16:04.280 As far as I can tell, there have been no 0:16:04.600 --> 0:16:11.800 electoral consequences for opposition to even modest restrictions on civilian weapons. Um, 0:16:12.600 --> 0:16:16.600 what's next? Well, I don't see a lot. John. I 0:16:16.680 --> 0:16:19.680 wish I could tell you this morning that there will 0:16:19.760 --> 0:16:23.720 be some background checks, there will be some beginning of 0:16:23.880 --> 0:16:27.680 gun regulation. But I gotta tell you I don't see it. 0:16:28.120 --> 0:16:31.240 You need sixty votes to get anything done in the Senate, 0:16:31.760 --> 0:16:34.360 and I don't think sixty votes are there. This is 0:16:34.760 --> 0:16:40.360 such an incredibly depressing story to have all of these 0:16:40.480 --> 0:16:45.880 horrible incidents. We've had over three thousand mass murders since UH, 0:16:46.840 --> 0:16:50.840 since the school shootings in Connecticut. So I I think 0:16:50.920 --> 0:16:56.480 that this, unfortunately, is not going to lead to any reforms. 0:16:57.000 --> 0:17:01.040 Nothing happened after Sandy Hook substantial. Not only that, but 0:17:01.400 --> 0:17:06.520 the far right UH had conspiracy theories following the murders 0:17:06.600 --> 0:17:12.720 that occurred there just just absolutely bizarre. John, and I 0:17:13.119 --> 0:17:16.160 think that there was a real eye opener for everybody 0:17:16.560 --> 0:17:19.120 that you're not going to be able to get much done. 0:17:19.359 --> 0:17:23.920 The great irony here, in my opinion, is that of 0:17:23.960 --> 0:17:28.240 the American public wants some gun control. They don't want 0:17:28.240 --> 0:17:31.720 to take people's guns away. That that was obviously a 0:17:32.359 --> 0:17:36.120 lie about Hillary Clinton, but people do want to see 0:17:36.240 --> 0:17:41.000 some reforms when you get over in this country favoring anything, 0:17:41.440 --> 0:17:45.600 that's a pretty powerful number. Could this impact the November 0:17:45.800 --> 0:17:50.840 election outlook at all? It could, John, And you've got 0:17:50.920 --> 0:17:54.440 two real wild cards. One is Roe v. Wade, and 0:17:54.480 --> 0:17:56.560 we'll get a ruling on that probably in the next 0:17:56.600 --> 0:17:59.680 couple of months. And now you have this. If we 0:18:00.240 --> 0:18:04.520 no reform, which is probably the likely scenario, I do 0:18:04.680 --> 0:18:08.920 think there could be a backlash against politicians who refused 0:18:08.960 --> 0:18:13.080 to do anything at all. So it it could. I 0:18:13.160 --> 0:18:15.240 think it's a stretch to say that it could mean 0:18:15.359 --> 0:18:20.440 this the household stay uh democratic. I still think the 0:18:20.520 --> 0:18:23.280 Republicans will take the House and the Senate, though I 0:18:23.359 --> 0:18:27.159 think is becoming closer because of abortion and because of guns, 0:18:27.920 --> 0:18:31.560 and after this tragedy, Um, after the mass shooting that 0:18:31.640 --> 0:18:35.800 we saw in Buffalo. It's the National Rifle Association conference. 0:18:36.080 --> 0:18:39.960 It's uh what this Friday? Yeah, this Friday that Ted 0:18:40.040 --> 0:18:42.440 Cruz will be there. Trump and you know a lot 0:18:42.520 --> 0:18:46.399 of pro gun politicians that the n r A is 0:18:46.920 --> 0:18:50.560 running scared. There are groups that are more conservative that 0:18:50.680 --> 0:18:53.320 there are further to the right of the n r A. 0:18:53.520 --> 0:18:54.879 So I think the n r A is trying to 0:18:55.000 --> 0:18:58.400 increase its visibility and you're gonna get the same old 0:18:58.520 --> 0:19:02.159 sound bites that it's an effort by the Democrats to 0:19:02.320 --> 0:19:06.760 exploit gun violence to take away people's guns, and nothing 0:19:06.920 --> 0:19:10.280 is further from the truth. Um, you write in your 0:19:10.600 --> 0:19:13.919 note this warning, this issue isn't just about the mass murders. 0:19:14.000 --> 0:19:18.040 Could you expand on that? I'm sorry I missed the words. 0:19:18.160 --> 0:19:20.880 This's what you write in your note that this morning, 0:19:21.000 --> 0:19:24.720 this issue isn't just about mass murders. Did you expand 0:19:24.760 --> 0:19:28.280 on that? Yeah, I I think it's it's also the 0:19:28.440 --> 0:19:33.200 gun violence we've seen in so many cities Chicago, Washington, Atlanta, 0:19:33.640 --> 0:19:37.560 several other cities where we've had unprecedented gun violence, and 0:19:37.720 --> 0:19:41.280 I think that's part of this entire narrative as well 0:19:41.359 --> 0:19:44.800 as something the Republicans will throw back at the Democrats. 0:19:45.200 --> 0:19:47.920 You do have to ask the question, is there any 0:19:48.040 --> 0:19:51.800 politician in America who's willing to take on this issue. 0:19:52.160 --> 0:19:55.400 I think Steve Kerr, the coach of the Golden State Warriors, 0:19:55.480 --> 0:19:58.679 is willing to take it on, but he's not a politician. 0:19:59.040 --> 0:20:02.000 There is one pelegician who I think could be intriguing, 0:20:02.480 --> 0:20:05.520 and that's the mayor of New York City. Yeah. And 0:20:05.800 --> 0:20:08.600 you know you mentioned New York City, and you got 0:20:08.680 --> 0:20:11.479 to bring the Supreme Court into the fold because they 0:20:11.520 --> 0:20:15.840 could be ruling on local jurisdictions, including New York City's 0:20:16.200 --> 0:20:19.360 own gun control measures. The restrictions that we have here 0:20:19.480 --> 0:20:21.960 in the city need to notice. Start your day brought 0:20:22.000 --> 0:20:25.720 to you by Interactive Broker's Global Analyst. It helps you 0:20:25.800 --> 0:20:29.920 find new global investment opportunities, to diversify your portfolio and 0:20:30.000 --> 0:20:33.920 discover undervalued companies that may have greater growth potential. Try 0:20:33.960 --> 0:20:37.080 ibk our Global Analysts today at ibk R dot com 0:20:37.160 --> 0:20:40.600 slash g A. First, we begin in Texas, where at 0:20:40.640 --> 0:20:43.719 least nineteen children and two adults were killed by an 0:20:43.800 --> 0:20:47.600 eighteen year old gunman at rob Elementary School. President Biden 0:20:47.720 --> 0:20:51.640 undrest the nation last night, expressing condolences and quickly pivoting 0:20:51.720 --> 0:20:55.840 to gun legislation, where in God's name is our backbone, 0:20:56.920 --> 0:20:58.840 to the courage to do with the stand up to 0:20:58.880 --> 0:21:02.800 the lobbies, took time to turn this pain the action. 0:21:03.200 --> 0:21:06.679 President Biden, addressing the nation after the elementary school shooting 0:21:06.720 --> 0:21:10.240 in Yuvalde, Texas. We should note Michael Bloomberg, the founder 0:21:10.320 --> 0:21:13.879 and majority owner of Bloomberg LP, the parent of Bloomberg Radio, 0:21:14.320 --> 0:21:17.240 is a donor to groups that support gun control, including 0:21:17.400 --> 0:21:19.960 Every Town for Gun Safety. And down to the other 0:21:20.040 --> 0:21:23.119 major story we're following this morning, the key primary raises 0:21:23.119 --> 0:21:26.560 across the country. In Georgia, to candidates backed by Donald 0:21:26.600 --> 0:21:30.400 Trump have lost another one. Bloomberg's really be Young joins 0:21:30.440 --> 0:21:33.280 us live with to tales Ranita, Good morning, Good morning John. 0:21:33.520 --> 0:21:37.320 Georgia Governor Brian Kemp and Secretary of State Brad Ruffensburger, 0:21:37.520 --> 0:21:41.280 both targets of former President Trump, both won their primaries. 0:21:41.720 --> 0:21:44.760 Kemp beat David produced seventy three point seven percent of 0:21:44.800 --> 0:21:48.840 the vote. He'll face Democrats Stacy Abrams, who ran unopposed. 0:21:49.320 --> 0:21:52.760 Raffensburger beat Jodie heis with fifty two point two percent 0:21:52.840 --> 0:21:56.280 of the vote. Former football great Herschel Walker, also backed 0:21:56.320 --> 0:22:00.360 by Trump, won the GOLP Senate primary with sixty three 0:22:00.440 --> 0:22:03.960 percent of the vote. He'll face Democrat and commit Raphael Warnock, 0:22:04.000 --> 0:22:07.320 who secured nearly nine six percent of the vote, and 0:22:07.480 --> 0:22:10.639 Marjorie Taylor Green one herd go OP House primary with 0:22:10.840 --> 0:22:13.960 sixty nine point five percent of the vote. Live in 0:22:14.040 --> 0:22:16.360 New York, I'm gonna need a Young Bloomberg day break, 0:22:16.440 --> 0:22:18.680 all right, Renn need to thank you. Elsewhere, the Alabama 0:22:18.760 --> 0:22:21.680 Republican Senate primary has into a run off with Katie 0:22:21.720 --> 0:22:25.560 Britt and US Representative Moe Brooks. Britt garnercent of the 0:22:25.640 --> 0:22:29.560 vote to Brooks percent. Former White House Press Secretary Sarah 0:22:29.600 --> 0:22:32.800 Sanders won the GOP nomination for governor and Arkansaw with 0:22:32.920 --> 0:22:35.640 eight three percent of the vote. And Texas Attorney General 0:22:35.760 --> 0:22:38.240 Ken patched and took the GOP nomination for re election 0:22:38.400 --> 0:22:41.200 with nearly sixty percent of the vote against George P. Bush. 0:22:41.920 --> 0:22:44.399 And coming up today, we get minutes from the fans 0:22:44.520 --> 0:22:47.680 latest meeting that is coming up at two pm Wall 0:22:47.720 --> 0:22:50.200 Street time. And that's the five things you need to 0:22:50.240 --> 0:22:53.320 notice start your day. Brought to you by Interactive Brokers 0:22:53.400 --> 0:22:58.240 and again Futures this morning, little change Nowsdack futures are higher, 0:22:58.320 --> 0:23:01.240 up about fourteen points right now. The decks in Germany 0:23:01.520 --> 0:23:03.800 is up about a third of a percent. Ten. Your 0:23:03.840 --> 0:23:06.679 treasury up one thirty second yell two point seven four percent. 0:23:06.760 --> 0:23:09.280 They yield on the two year two point five one percent. 0:23:09.800 --> 0:23:12.000 Nine X Screwed oil is higher, up one point four 0:23:12.080 --> 0:23:14.680 percent of a dollar fifty eight at a hundred eleven 0:23:14.720 --> 0:23:17.640 dollars thirty four cents of barrel comics. Gold is down 0:23:17.760 --> 0:23:20.880 seven tenths percent, or thirteen dollars twenty cents at eighteen 0:23:21.000 --> 0:23:24.120 fifty eight twenty announced. The euro one point oh six 0:23:24.240 --> 0:23:27.639