1
00:00:02,480 --> 00:00:12,080
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

2
00:00:12,119 --> 00:00:15,080
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

3
00:00:15,120 --> 00:00:15,920
Speaker 1: following today.

4
00:00:16,320 --> 00:00:19,320
Speaker 2: We have new developments on the pro Palestinian protests at

5
00:00:19,360 --> 00:00:22,920
Speaker 2: Columbia University and across the country. Let's get the very

6
00:00:23,000 --> 00:00:27,440
Speaker 2: latest with Bloomberg's John Tucker bag on you.

7
00:00:27,440 --> 00:00:30,479
Speaker 3: You at the epicenter of the protests. New York City

8
00:00:30,480 --> 00:00:33,720
Speaker 3: police moved in just after nine o'clock last night, entering

9
00:00:33,760 --> 00:00:36,800
Speaker 3: Columbia University's Hamilton Hall with a ladder truck through an

10
00:00:36,880 --> 00:00:40,440
Speaker 3: upstairs window. They pushed through mounds of furniture piled up

11
00:00:40,479 --> 00:00:43,680
Speaker 3: as barricades. As arrests were made. Some people were led

12
00:00:43,720 --> 00:00:47,400
Speaker 3: away bound by zip ties. Mayor Eric Adams did deliver

13
00:00:47,520 --> 00:00:50,040
Speaker 3: a warning before police began making arrests.

14
00:00:50,360 --> 00:00:55,480
Speaker 4: I'm urging every student and every protestant to walk away

15
00:00:55,720 --> 00:00:56,720
Speaker 4: from this situation.

16
00:00:57,000 --> 00:01:00,560
Speaker 5: Now they continue your advocacy.

17
00:01:00,280 --> 00:01:03,680
Speaker 3: Through other means, The Police Commissioner sai. Among those arrested

18
00:01:03,720 --> 00:01:07,000
Speaker 3: were people who had no affiliation with Columbia. As those

19
00:01:07,120 --> 00:01:10,640
Speaker 3: arrested were loaded on buses, demonstrators on the streets wave

20
00:01:10,720 --> 00:01:14,760
Speaker 3: Palestinian flags and chanted into fada the building was cleared

21
00:01:14,800 --> 00:01:17,880
Speaker 3: to protesters after about two hours. That was the scene

22
00:01:17,920 --> 00:01:21,000
Speaker 3: in New York. In Los Angeles early today, police were

23
00:01:21,040 --> 00:01:25,000
Speaker 3: responding immediately to a request for support of the University

24
00:01:25,040 --> 00:01:28,360
Speaker 3: of California campus. John Tucker Bloomberg Radio, all.

25
00:01:28,360 --> 00:01:29,360
Speaker 6: Right, John, Thanks well.

26
00:01:29,400 --> 00:01:33,280
Speaker 1: Lawmakers are calling more university leaders to Capitol Hill to

27
00:01:33,319 --> 00:01:38,800
Speaker 1: testify about anti Semitism on campus, and Bloomberg's Nancy Lyons reports.

28
00:01:38,880 --> 00:01:43,360
Speaker 6: With pro Palestinian protests and encampments growing at universities across

29
00:01:43,400 --> 00:01:46,080
Speaker 6: the country, the House Committee on Education in the Workforce

30
00:01:46,440 --> 00:01:50,200
Speaker 6: is expanding its questioning about campus activity. It's now calling

31
00:01:50,200 --> 00:01:52,960
Speaker 6: on the presidents of Yale, the University of Michigan, and

32
00:01:53,160 --> 00:01:57,639
Speaker 6: UCLA to testify May twenty third. The presidents of Harvard, MIT,

33
00:01:57,800 --> 00:02:00,480
Speaker 6: and Penn appeared before the committee in December, while the

34
00:02:00,520 --> 00:02:03,920
Speaker 6: president of Columbia testified in early April. Most who have

35
00:02:04,000 --> 00:02:07,280
Speaker 6: appeared before the committee have been criticized by some lawmakers

36
00:02:07,560 --> 00:02:11,959
Speaker 6: as being evasive and overly legalistic. In Washington, Nancy Lyons

37
00:02:11,960 --> 00:02:13,120
Speaker 6: Bloomberg Radio.

38
00:02:13,000 --> 00:02:14,040
Speaker 7: All Right, Nancy, thank you.

39
00:02:14,160 --> 00:02:17,239
Speaker 2: Then, the Middle East Secretary of State Anthony Blincoln continues

40
00:02:17,280 --> 00:02:20,440
Speaker 2: his push for a ceasefire between Israel and Hamas. Blincoln

41
00:02:20,520 --> 00:02:23,720
Speaker 2: met today in Tel Aviv with Israeli President Isaac Herzog,

42
00:02:23,720 --> 00:02:26,360
Speaker 2: and he called on Hamas to accept Israel's terms for

43
00:02:26,360 --> 00:02:28,680
Speaker 2: appause in fighting in exchange for hostages.

44
00:02:28,919 --> 00:02:32,959
Speaker 8: We're determined to get a ceasefire that brings the hostages vault,

45
00:02:33,639 --> 00:02:36,919
Speaker 8: and to get it now, and the only reason that

46
00:02:36,919 --> 00:02:39,000
Speaker 8: that wouldn't be achieved is because of Hamas.

47
00:02:39,120 --> 00:02:42,040
Speaker 2: And Secretary Blincoln says the release of hostages in Gaza

48
00:02:42,080 --> 00:02:45,000
Speaker 2: is at the heart of US foreign policy. That policy

49
00:02:45,160 --> 00:02:47,960
Speaker 2: may be shifting when it comes to Palestinians caught up

50
00:02:47,960 --> 00:02:51,160
Speaker 2: in the fighting. According to CBS News, the Biden administration

51
00:02:51,320 --> 00:02:55,959
Speaker 2: is considering allowing certain Palestinians into the US as refugees

52
00:02:56,400 --> 00:02:58,880
Speaker 2: if they have family members who are American citizens or

53
00:02:58,960 --> 00:03:01,880
Speaker 2: permanent residents. Until now, the more than four decade old

54
00:03:01,960 --> 00:03:05,960
Speaker 2: US refugee program has never been used to resettle Palestinians

55
00:03:06,000 --> 00:03:06,960
Speaker 2: in large numbers.

56
00:03:07,639 --> 00:03:11,160
Speaker 1: Well Nathan in Legal News this morning, former President Donald

57
00:03:11,160 --> 00:03:14,320
Speaker 1: Trump is getting a break from his Manhattan hush money

58
00:03:14,360 --> 00:03:17,679
Speaker 1: trial today, but there have been significant developments in the

59
00:03:17,760 --> 00:03:20,440
Speaker 1: last twenty four hours. In Bloomberg Law, host Doing Granso

60
00:03:20,520 --> 00:03:21,960
Speaker 1: has the details from New York.

61
00:03:22,440 --> 00:03:25,760
Speaker 9: Donald Trump was held in contempt of court yesterday and

62
00:03:25,840 --> 00:03:29,840
Speaker 9: fined nine thousand dollars for repeatedly violating a gag order

63
00:03:30,160 --> 00:03:34,200
Speaker 9: that barred him from making public statements about witnesses and jurors.

64
00:03:34,600 --> 00:03:37,760
Speaker 9: The judge warned that if there are other violations, Trump

65
00:03:37,800 --> 00:03:40,480
Speaker 9: may end up in jail, and the jury heard the

66
00:03:40,520 --> 00:03:44,480
Speaker 9: most vivid testimony yet about payments to silence a former

67
00:03:44,560 --> 00:03:48,880
Speaker 9: Playboy playmate, Karen McDougall at an adult film star Stormy

68
00:03:48,960 --> 00:03:53,520
Speaker 9: Daniels before the twenty sixteen election. Los Angeles attorney Keith Davidson,

69
00:03:53,560 --> 00:03:58,080
Speaker 9: who represented both, recounted frantic talks with Trump's former lawyer,

70
00:03:58,200 --> 00:04:02,160
Speaker 9: Michael Cohen and the National Inquirer, whose publisher wanted to

71
00:04:02,160 --> 00:04:05,680
Speaker 9: help Trump win the presidency. In New York, June, Gross

72
00:04:05,680 --> 00:04:06,920
Speaker 9: Obenberg Radio.

73
00:04:06,840 --> 00:04:07,840
Speaker 7: All right, June, thank you.

74
00:04:08,280 --> 00:04:11,160
Speaker 2: Turning to Market's futures are lower as we begin this

75
00:04:11,240 --> 00:04:13,560
Speaker 2: new trading month. The S and P five hundred dropped

76
00:04:13,600 --> 00:04:16,480
Speaker 2: more than four percent in April, snapping a streak of

77
00:04:16,520 --> 00:04:20,480
Speaker 2: five straight monthly gains. The dollar notched its fourth consecutive

78
00:04:20,520 --> 00:04:23,680
Speaker 2: monthly advance. That's the longest winning run for the greenback

79
00:04:23,760 --> 00:04:25,360
Speaker 2: since September twenty twenty two.

80
00:04:26,080 --> 00:04:29,080
Speaker 1: Well Nathan Corporate earnings continued to be front and center.

81
00:04:29,200 --> 00:04:32,279
Speaker 1: Shares of Amazon at more than two percent in early trading.

82
00:04:32,320 --> 00:04:35,640
Speaker 1: Profit and revenue came in above analyst estimates. The company's

83
00:04:35,640 --> 00:04:39,800
Speaker 1: cloud unit, AWS posted the strongest sales growth in a year.

84
00:04:40,120 --> 00:04:43,600
Speaker 1: Begin More from Bloomberg Technology Host and Ludlow from San Francisco.

85
00:04:44,040 --> 00:04:47,680
Speaker 10: AWS is the clear market leader in cloud, bigger than

86
00:04:47,800 --> 00:04:51,800
Speaker 10: Microsoft as you're certainly bigger than Google's cloud platform. It's

87
00:04:51,800 --> 00:04:54,600
Speaker 10: seeing accelerating growth. Growth in the fourth quarter was about

88
00:04:54,600 --> 00:04:57,240
Speaker 10: thirteen percent, It's now nearer to fourteen and a half

89
00:04:57,279 --> 00:05:00,640
Speaker 10: fifteen percent, and the strategy is basically be a place

90
00:05:00,839 --> 00:05:04,120
Speaker 10: where other companies who are interested in AI can build

91
00:05:04,160 --> 00:05:07,520
Speaker 10: whatever software it is they want on aws's platforms.

92
00:05:07,760 --> 00:05:09,039
Speaker 6: Bloomberg's and Ludlow says.

93
00:05:09,080 --> 00:05:12,320
Speaker 1: Despite the strong cloud performance, the company's sales forecast for

94
00:05:12,360 --> 00:05:15,000
Speaker 1: the current quarter fell short of estimates.

95
00:05:15,279 --> 00:05:17,680
Speaker 2: Karen A couple other high tech companies are taking it

96
00:05:17,720 --> 00:05:21,000
Speaker 2: on the chin. This morning, shares of Advanced micro Devices

97
00:05:21,000 --> 00:05:23,760
Speaker 2: are down more than six percent. The second biggest maker

98
00:05:23,760 --> 00:05:27,240
Speaker 2: of computer processors gave a lukewarm revenue forecast for the

99
00:05:27,240 --> 00:05:30,039
Speaker 2: current period. It's being weighed down by lackluster demand for

100
00:05:30,120 --> 00:05:32,040
Speaker 2: chips used in video game hardware.

101
00:05:32,520 --> 00:05:35,960
Speaker 1: Well Nathan, shares of a super microcomputer are down nine

102
00:05:36,000 --> 00:05:39,000
Speaker 1: and a half percent. The company did report quarterly sales

103
00:05:39,000 --> 00:05:41,640
Speaker 1: that tripled from the same period last year, but they

104
00:05:41,839 --> 00:05:45,480
Speaker 1: fell slightly short of estimates. That's disappointing investors who had

105
00:05:45,560 --> 00:05:49,679
Speaker 1: sky high expectations that the server maker's business would benefit

106
00:05:49,720 --> 00:05:51,279
Speaker 1: from AI related demand.

107
00:05:51,720 --> 00:05:54,880
Speaker 2: And Starbucks investors are getting a jolt to the downside.

108
00:05:54,880 --> 00:05:58,320
Speaker 2: Those shares are down twelve percent. Sales at the coffee

109
00:05:58,400 --> 00:06:01,600
Speaker 2: chain fell for the first time since twenty twenty. If

110
00:06:01,640 --> 00:06:05,119
Speaker 2: this morning's declined holds, it would be Starbucks' biggest stock

111
00:06:05,240 --> 00:06:08,039
Speaker 2: drop since March of twenty twenty, the early days of

112
00:06:08,080 --> 00:06:08,800
Speaker 2: the pandemic.

113
00:06:09,240 --> 00:06:11,520
Speaker 1: Well Nathan, Let's turn to the economy now. The Fed

114
00:06:11,640 --> 00:06:14,560
Speaker 1: is expected to leave rates on hold once again, but

115
00:06:14,600 --> 00:06:18,080
Speaker 1: attention will turn to j Powell's news conference after their decision.

116
00:06:18,360 --> 00:06:20,840
Speaker 1: We get a preview from Bloomberg's Michael McKee.

117
00:06:20,960 --> 00:06:23,440
Speaker 11: If today's FED meeting were a Dickens novel, it might

118
00:06:23,480 --> 00:06:27,520
Speaker 11: be called small expectations. Policymakers are not going to change

119
00:06:27,560 --> 00:06:30,680
Speaker 11: the nation's benchmark interest rate, They are not providing new

120
00:06:30,720 --> 00:06:33,920
Speaker 11: economic forecasts, and they are not issuing a new dot

121
00:06:33,960 --> 00:06:37,320
Speaker 11: plot outlook for rates. Chair j Powell's press conference is

122
00:06:37,440 --> 00:06:41,080
Speaker 11: essentially the only chance for any market moving news, and

123
00:06:41,160 --> 00:06:44,440
Speaker 11: he will be working hard not to provide any expected

124
00:06:44,480 --> 00:06:47,200
Speaker 11: to maintain the FED line. We don't have enough confidence

125
00:06:47,240 --> 00:06:50,320
Speaker 11: to cut rates, and we're not thinking of raising rates,

126
00:06:50,800 --> 00:06:53,480
Speaker 11: at least not yet. Michael McKee, Bloomberg Radio.

127
00:06:53,680 --> 00:06:56,200
Speaker 1: All right, Mike, thanks well for full team coverage at

128
00:06:56,200 --> 00:06:58,760
Speaker 1: the FED decision and Powell news conference. Day tuned to

129
00:06:58,800 --> 00:07:02,520
Speaker 1: a Bloomberg Radio and television for the Bloomberg Surveillance special

130
00:07:02,839 --> 00:07:05,800
Speaker 1: the Fed discides. It all begins at one thirty pm

131
00:07:05,920 --> 00:07:11,240
Speaker 1: Wall Street Time. But it's time now for a look

132
00:07:11,280 --> 00:07:13,000
Speaker 1: at some of the other stories making news in New

133
00:07:13,080 --> 00:07:15,400
Speaker 1: York and around the world, and for that we're joined

134
00:07:15,400 --> 00:07:16,920
Speaker 1: by Bloomberg's Michael Barr.

135
00:07:16,960 --> 00:07:18,520
Speaker 6: Michael, Good Morning, Good morning.

136
00:07:18,600 --> 00:07:22,400
Speaker 4: Karen. Tim Kennedy declared victory in a special election to

137
00:07:22,480 --> 00:07:26,200
Speaker 4: replace former New York Representative Brian Higgins and serve the

138
00:07:26,240 --> 00:07:29,440
Speaker 4: rest of the term. It keeps the Buffalo area district

139
00:07:29,440 --> 00:07:33,520
Speaker 4: and Democrats control. Higgins resign in February after being named

140
00:07:33,600 --> 00:07:37,440
Speaker 4: president of a performing arts center in Buffalo. Kennedy, a

141
00:07:37,480 --> 00:07:42,160
Speaker 4: state senator, defeated Republican Gary Dixon, a town supervisor in

142
00:07:42,240 --> 00:07:45,200
Speaker 4: the upstate New York district that includes the cities of

143
00:07:45,200 --> 00:07:48,080
Speaker 4: Buffalo and Niagara in the heavily blue district.

144
00:07:48,400 --> 00:07:51,120
Speaker 5: This victory is your victory.

145
00:07:51,640 --> 00:07:54,360
Speaker 4: This victory is our victory.

146
00:07:54,920 --> 00:08:00,080
Speaker 2: Tonight, we are one step closer to preserving.

147
00:07:59,600 --> 00:08:04,800
Speaker 4: Tom audio courtesy of WIVBTV. The margin of victory for

148
00:08:04,880 --> 00:08:09,120
Speaker 4: Kennedy was seventy eight to twenty two percent. A six

149
00:08:09,160 --> 00:08:12,200
Speaker 4: week abortion ban takes effect today in Florida, replacing a

150
00:08:12,200 --> 00:08:15,880
Speaker 4: previous restriction of fifteen weeks. National Right to Life President

151
00:08:15,920 --> 00:08:17,000
Speaker 4: Carol Tobias.

152
00:08:17,000 --> 00:08:20,800
Speaker 6: I'm very excited about fifty percent of all abortions occur

153
00:08:21,000 --> 00:08:25,040
Speaker 6: after that point in pregnancy, so this bill is going

154
00:08:25,080 --> 00:08:25,720
Speaker 6: to save a.

155
00:08:25,720 --> 00:08:26,640
Speaker 11: Lot of lives.

156
00:08:26,880 --> 00:08:31,280
Speaker 4: Meanwhile, Michelle Cassada, a spokeswoman for Planned Parenthood in Florida,

157
00:08:31,440 --> 00:08:33,960
Speaker 4: says the band will have an immediate impact in the state.

158
00:08:34,240 --> 00:08:37,160
Speaker 12: We're looking at tens of thousands of patients that are

159
00:08:37,200 --> 00:08:40,160
Speaker 12: either going to have the travel hundreds, if not thousands

160
00:08:40,200 --> 00:08:43,480
Speaker 12: of miles to another state with access, or be forced

161
00:08:43,520 --> 00:08:45,199
Speaker 12: to carry a pregnancy against their will.

162
00:08:45,480 --> 00:08:48,960
Speaker 4: Casada says most women who seek abortion care are between

163
00:08:49,040 --> 00:08:52,680
Speaker 4: eight and ten weeks pregnant. New York City police fatally

164
00:08:52,720 --> 00:08:55,199
Speaker 4: shot a man after a brief stand off in Manhattan.

165
00:08:55,400 --> 00:08:58,800
Speaker 4: Officials say two officers had an investigator with a Department

166
00:08:58,840 --> 00:09:02,360
Speaker 4: of Homeland Security part of a gang violence task force,

167
00:09:02,400 --> 00:09:05,960
Speaker 4: identified and approached the twenty five year old man suspected

168
00:09:06,040 --> 00:09:09,080
Speaker 4: of committing a violent crime. The n MYPD says the

169
00:09:09,080 --> 00:09:12,079
Speaker 4: man ran inside an optical story he was standing in

170
00:09:12,080 --> 00:09:17,000
Speaker 4: in front in Chelsea Chaef. Joseph Kennedy, a Kennedy reader

171
00:09:17,200 --> 00:09:20,080
Speaker 4: says that the man produced a gun and after a

172
00:09:20,120 --> 00:09:21,920
Speaker 4: brief struggle, shots were fired.

173
00:09:22,080 --> 00:09:24,400
Speaker 10: The mail was removed to an area hospital, where he

174
00:09:24,480 --> 00:09:25,240
Speaker 10: was pronounced dead.

175
00:09:25,720 --> 00:09:28,400
Speaker 4: A member of the task for US received minor injuries.

176
00:09:28,760 --> 00:09:32,280
Speaker 4: The Biden administration is taking a major step toward reclassifying

177
00:09:32,320 --> 00:09:35,640
Speaker 4: marijuana as a less dangerous drug. The move would not

178
00:09:35,760 --> 00:09:39,440
Speaker 4: legalize pot, but the consequences for using it would be

179
00:09:39,559 --> 00:09:42,480
Speaker 4: less severe. Global News twenty four hours a day and

180
00:09:42,600 --> 00:09:45,720
Speaker 4: whenever you want it with Bloomberg News Now Michael Barr

181
00:09:45,800 --> 00:09:47,400
Speaker 4: and this is Bloomberg Heart.

182
00:09:47,720 --> 00:09:55,000
Speaker 1: Sorry Michael Burr, thank you time now for the Bloomberg

183
00:09:55,080 --> 00:09:57,040
Speaker 1: Sports Update with John stash Hour.

184
00:09:57,160 --> 00:09:59,360
Speaker 13: John, Good morning, Good morning Care on the Mixter getting

185
00:09:59,360 --> 00:10:02,240
Speaker 13: read of head back to Philadelphia for our game six tomorrow,

186
00:10:02,280 --> 00:10:04,360
Speaker 13: and it certainly didn't look like that was going to

187
00:10:04,360 --> 00:10:06,439
Speaker 13: be the case. Game five that the guard Knicks led

188
00:10:06,440 --> 00:10:09,120
Speaker 13: the Sixers by six with twenty eight seconds to go,

189
00:10:09,240 --> 00:10:12,560
Speaker 13: but Tyrese Maxie with a four point play, and after

190
00:10:12,640 --> 00:10:14,680
Speaker 13: Josh Hart missed a free throw, Maxie with a three

191
00:10:14,720 --> 00:10:18,439
Speaker 13: pointer from about thirty five feet forced overtime. Six Ers

192
00:10:18,440 --> 00:10:21,520
Speaker 13: trailed by five and ot came back. They won one

193
00:10:21,640 --> 00:10:24,720
Speaker 13: twelve to one oh six as Maxie scored forty six points.

194
00:10:24,760 --> 00:10:28,000
Speaker 13: Jalen Brunson had forty in the loss. Nick touchdown. Thibodeaux

195
00:10:28,000 --> 00:10:31,199
Speaker 13: asked about how regulation ended, and again.

196
00:10:30,960 --> 00:10:33,719
Speaker 14: In those situations, you talk about what you want to

197
00:10:33,760 --> 00:10:37,120
Speaker 14: do there out of timeouts. Josh, you's got two free throws,

198
00:10:37,120 --> 00:10:41,760
Speaker 14: it's two, So you have to, you know, communicate what

199
00:10:41,800 --> 00:10:46,200
Speaker 14: your decisions are. And so you know, we could have

200
00:10:46,200 --> 00:10:48,040
Speaker 14: done better in that situation.

201
00:10:47,720 --> 00:10:48,280
Speaker 4: And we will.

202
00:10:48,360 --> 00:10:51,000
Speaker 13: Two other games in the East Milwaukee State Alive one

203
00:10:51,080 --> 00:10:53,800
Speaker 13: fifteen ninety two over Indiana's the leads three to two.

204
00:10:53,920 --> 00:10:56,800
Speaker 13: Cleveland top to Orlando by a point, Caves are up

205
00:10:56,800 --> 00:10:58,640
Speaker 13: three to two. Home teams won every game the season's

206
00:10:58,679 --> 00:11:00,960
Speaker 13: over for the Islanders. They fought back in Raleigh, down

207
00:11:01,000 --> 00:11:03,440
Speaker 13: three to one, game was tied going to the third

208
00:11:03,440 --> 00:11:07,160
Speaker 13: period Carolina with two goals in eight seconds. Hurricanes won

209
00:11:07,280 --> 00:11:09,040
Speaker 13: six to three and the Kynes will now take on

210
00:11:09,120 --> 00:11:11,679
Speaker 13: the Rangers in the second round Toronto in overtime win

211
00:11:11,720 --> 00:11:13,560
Speaker 13: at Boston, cutting the Bruins lead to three to two,

212
00:11:14,120 --> 00:11:17,760
Speaker 13: Nashville one. In Vancouver, Colorado finished off Winnipeg at Cityfield.

213
00:11:17,760 --> 00:11:20,240
Speaker 13: Three run homer, sixth towenty for DJ Stewart gave the

214
00:11:20,320 --> 00:11:22,240
Speaker 13: Mets the six to one, went over the Cubs another

215
00:11:22,320 --> 00:11:25,800
Speaker 13: two run light hitting Yankee loss in Baltimore Orioles one

216
00:11:25,880 --> 00:11:29,199
Speaker 13: forty two. Johns Stashawa, Bloomberg Sports Canon Nathan.

217
00:11:30,760 --> 00:11:34,920
Speaker 8: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

218
00:11:35,000 --> 00:11:37,920
Speaker 8: and around the world on Bloomberg dot Com and the

219
00:11:37,960 --> 00:11:42,440
Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

220
00:11:42,520 --> 00:11:44,000
Speaker 8: Nathan Hager. We want to get more now.

221
00:11:44,040 --> 00:11:46,360
Speaker 2: In the big tech earning story of the morning, that

222
00:11:46,400 --> 00:11:49,320
Speaker 2: would be Amazon. The e commerce giant reported profit and

223
00:11:49,360 --> 00:11:51,959
Speaker 2: revenue in the first quarter that did beat Wall Street estimates,

224
00:11:51,960 --> 00:11:54,760
Speaker 2: with its strongest sales growth in the cloud in a year,

225
00:11:55,400 --> 00:11:58,200
Speaker 2: but the forecast for the current quarter is falling short

226
00:11:58,240 --> 00:12:00,720
Speaker 2: in what may be a warning sign for the main

227
00:12:00,880 --> 00:12:03,679
Speaker 2: e commerce business over at Amazon. Let's bring in Dan

228
00:12:03,760 --> 00:12:06,720
Speaker 2: Ives for more on these results. Senior equity research analysts

229
00:12:07,080 --> 00:12:08,400
Speaker 2: at white Bush Securities.

230
00:12:08,720 --> 00:12:09,400
Speaker 7: Dan, good morning.

231
00:12:09,440 --> 00:12:12,079
Speaker 2: I know you and a lot of analysts were focused

232
00:12:12,320 --> 00:12:16,400
Speaker 2: really closely on the cloud. Did AWS come through for you?

233
00:12:17,520 --> 00:12:21,640
Speaker 5: I can't. This is a trophy case quarter for AWS.

234
00:12:21,720 --> 00:12:25,720
Speaker 5: Seventeen percent, I mean whispers were fifteen percent. This is

235
00:12:25,800 --> 00:12:29,160
Speaker 5: exact what Amazon needed to do to show that the

236
00:12:29,240 --> 00:12:33,400
Speaker 5: cloud moved. Joe is back, very important quarter for Jase

237
00:12:33,760 --> 00:12:34,480
Speaker 5: and Amazon.

238
00:12:35,520 --> 00:12:38,719
Speaker 2: What about the forecast for the current quarter? It did

239
00:12:38,760 --> 00:12:40,960
Speaker 2: come in a little bit weaker than a lot of

240
00:12:41,000 --> 00:12:44,559
Speaker 2: analysts expected. Could that be a concern not just FORAR

241
00:12:44,800 --> 00:12:47,319
Speaker 2: the e commerce side, but for the cloud?

242
00:12:48,400 --> 00:12:50,440
Speaker 5: Yeah, it could be, but I think streets we can do.

243
00:12:50,520 --> 00:12:53,480
Speaker 5: This is conservative and that's why stock will be up today.

244
00:12:54,040 --> 00:12:58,120
Speaker 5: Look a key with this name, especially in the shadows

245
00:12:58,360 --> 00:13:02,520
Speaker 5: of a massive number from my Microsoft and Google. Amazon

246
00:13:02,600 --> 00:13:05,079
Speaker 5: needs to come to ourn AWS and it sures not

247
00:13:05,240 --> 00:13:07,839
Speaker 5: just on cloud, but now the next step in terms

248
00:13:08,000 --> 00:13:13,880
Speaker 5: AI jazzing and Amazon monetizing that that's the golden Dews.

249
00:13:14,080 --> 00:13:15,520
Speaker 5: That's what the streets focused on.

250
00:13:16,400 --> 00:13:20,960
Speaker 2: Obviously, AWS is the dominant player in the cloud. Do

251
00:13:21,040 --> 00:13:26,480
Speaker 2: these results show that the cloud side did enough to

252
00:13:26,600 --> 00:13:31,400
Speaker 2: maintain that position against the pretty impressive numbers we saw

253
00:13:31,520 --> 00:13:35,360
Speaker 2: last week from Microsoft and alphabet for their cloud units.

254
00:13:35,920 --> 00:13:38,839
Speaker 5: Yeah. I think in this game of thrones, they're keeping up.

255
00:13:39,360 --> 00:13:43,600
Speaker 5: And that's the important thing because this is not just

256
00:13:44,600 --> 00:13:47,600
Speaker 5: a winner takes all. You're going to see many, many

257
00:13:47,679 --> 00:13:51,640
Speaker 5: winners in this AI revolution. Amazon's going to be key

258
00:13:51,640 --> 00:13:54,800
Speaker 5: player there. But now you're starting to see a company

259
00:13:54,840 --> 00:13:57,720
Speaker 5: that i'd say the last few quarters backwards against the wall.

260
00:13:58,240 --> 00:14:00,840
Speaker 5: It's starting to turn and that is huge for the

261
00:14:00,920 --> 00:14:04,120
Speaker 5: stock and it's something that I think investors, even on

262
00:14:04,160 --> 00:14:06,240
Speaker 5: a ripple effect, they're going to look to the rest

263
00:14:06,280 --> 00:14:11,000
Speaker 5: of tech. It sures this tech earning season has been robust,

264
00:14:11,440 --> 00:14:13,640
Speaker 5: all the big textarll wards coming through.

265
00:14:14,480 --> 00:14:17,600
Speaker 2: Can these text stalwarts maintain this kind of trajectory when

266
00:14:17,880 --> 00:14:21,520
Speaker 2: we could see potentially some macro risks when it comes

267
00:14:21,560 --> 00:14:25,280
Speaker 2: to enterprise spending on AI products. Do you think this

268
00:14:25,440 --> 00:14:28,760
Speaker 2: kind of demand can continue to be maintained in this

269
00:14:28,840 --> 00:14:29,840
Speaker 2: economic environment.

270
00:14:30,600 --> 00:14:32,840
Speaker 5: Yeah, it's a great clause. Well, I think on the edges,

271
00:14:32,960 --> 00:14:36,080
Speaker 5: I mean, there could be some soft spots, but overall,

272
00:14:36,680 --> 00:14:39,680
Speaker 5: this is a fourth Industrial Revolution that's planning out, and

273
00:14:39,720 --> 00:14:42,320
Speaker 5: I think that's what we see across tech. You know,

274
00:14:43,320 --> 00:14:45,760
Speaker 5: it's not going to be straightened to the right, but

275
00:14:45,840 --> 00:14:48,400
Speaker 5: it's something that we have not seen since nineteen ninety

276
00:14:48,400 --> 00:14:49,960
Speaker 5: five at the.

277
00:14:49,840 --> 00:14:51,480
Speaker 2: Time we have left Dan, I want to get your

278
00:14:51,520 --> 00:14:54,920
Speaker 2: take on this confirmation that we've gotten from Tesla that

279
00:14:55,080 --> 00:14:59,240
Speaker 2: the supercharger network, just about all the workers involved in

280
00:14:59,280 --> 00:15:01,080
Speaker 2: it are being a lit eminated. I wonder what you

281
00:15:01,120 --> 00:15:02,560
Speaker 2: make of that move from elon Musk.

282
00:15:03,160 --> 00:15:06,240
Speaker 5: Look, it's tough decisions that they're making on these cost cuts,

283
00:15:06,280 --> 00:15:09,480
Speaker 5: but that's the street ones to see. He'll rebuild it back.

284
00:15:09,920 --> 00:15:12,920
Speaker 5: But it shows now you finally have an adult in

285
00:15:12,920 --> 00:15:15,640
Speaker 5: the room with Musk and Nats and investors want to

286
00:15:15,640 --> 00:15:18,720
Speaker 5: see in Tesla after a very very tough six to

287
00:15:18,800 --> 00:15:19,480
Speaker 5: nine months.

288
00:15:19,800 --> 00:15:22,880
Speaker 2: What could it mean though in terms of EV demand.

289
00:15:22,960 --> 00:15:26,840
Speaker 2: I mean, a lot of concern is around range anxiety, right,

290
00:15:26,880 --> 00:15:30,840
Speaker 2: and if the growth of supercharger doesn't potentially stay where

291
00:15:30,840 --> 00:15:33,600
Speaker 2: it has been, what could that mean for EV demand

292
00:15:33,640 --> 00:15:34,240
Speaker 2: going forward?

293
00:15:34,960 --> 00:15:36,640
Speaker 5: Look, I think writing is in the wall, and I

294
00:15:36,680 --> 00:15:39,360
Speaker 5: think Musk has seen you know, we've seen in Tesla's results.

295
00:15:39,360 --> 00:15:41,440
Speaker 5: They're going to have to slow down the supercharge to

296
00:15:41,480 --> 00:15:45,120
Speaker 5: build out even with these OEM deals. And I think

297
00:15:45,160 --> 00:15:48,680
Speaker 5: it just shows it's been some dark days for ev demand,

298
00:15:48,800 --> 00:15:52,200
Speaker 5: but the growth is not over. But it's this smart

299
00:15:52,240 --> 00:15:54,680
Speaker 5: move for Tesla, even though it's a head scratcher that

300
00:15:54,720 --> 00:15:56,360
Speaker 5: they actually got rid of the whole department.

301
00:15:57,040 --> 00:15:59,880
Speaker 7: This is Bloomberg day Break Today, your morning brief on

302
00:16:00,040 --> 00:16:03,560
Speaker 7: the story's making news from Wall Street to Washington and beyond.

303
00:16:03,840 --> 00:16:06,600
Speaker 1: Look for us on your podcast feed at six am

304
00:16:06,680 --> 00:16:10,320
Speaker 1: Eastern each morning, on Apple, Spotify, and anywhere else you

305
00:16:10,400 --> 00:16:11,520
Speaker 1: get your podcasts.

306
00:16:11,680 --> 00:16:14,400
Speaker 7: You can also listen live each morning starting at five

307
00:16:14,440 --> 00:16:17,080
Speaker 7: am Wall Street time on Bloomberg eleven three to zero

308
00:16:17,080 --> 00:16:19,960
Speaker 7: in New York, Bloomberg ninety nine to one in Washington,

309
00:16:20,040 --> 00:16:22,920
Speaker 7: Bloomberg one oh six to one in Boston, and Bloomberg

310
00:16:23,000 --> 00:16:24,680
Speaker 7: nine sixty in San Francisco.

311
00:16:25,040 --> 00:16:28,200
Speaker 1: Our flagship New York station is also available on your

312
00:16:28,240 --> 00:16:33,680
Speaker 1: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus.

313
00:16:33,720 --> 00:16:37,280
Speaker 7: Listen coast to coast on the Bloomberg Business app, seriusxmb

314
00:16:37,440 --> 00:16:41,520
Speaker 7: iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager.

315
00:16:41,280 --> 00:16:42,440
Speaker 6: And I'm Karen Moscow.

316
00:16:42,640 --> 00:16:45,400
Speaker 1: Join us again tomorrow morning for all the news you

317
00:16:45,520 --> 00:16:48,760
Speaker 1: need to start your day right here on Bloomberg Daybreak

318
00:17:01,880 --> 00:17:02,360
Speaker 14: And the