Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: We have new developments on the pro Palestinian protests at
Speaker 2: Columbia University and across the country. Let's get the very
Speaker 2: latest with Bloomberg's John Tucker bag on you.
Speaker 3: You at the epicenter of the protests. New York City
Speaker 3: police moved in just after nine o'clock last night, entering
Speaker 3: Columbia University's Hamilton Hall with a ladder truck through an
Speaker 3: upstairs window. They pushed through mounds of furniture piled up
Speaker 3: as barricades. As arrests were made. Some people were led
Speaker 3: away bound by zip ties. Mayor Eric Adams did deliver
Speaker 3: a warning before police began making arrests.
Speaker 4: I'm urging every student and every protestant to walk away
Speaker 4: from this situation.
Speaker 5: Now they continue your advocacy.
Speaker 3: Through other means, The Police Commissioner sai. Among those arrested
Speaker 3: were people who had no affiliation with Columbia. As those
Speaker 3: arrested were loaded on buses, demonstrators on the streets wave
Speaker 3: Palestinian flags and chanted into fada the building was cleared
Speaker 3: to protesters after about two hours. That was the scene
Speaker 3: in New York. In Los Angeles early today, police were
Speaker 3: responding immediately to a request for support of the University
Speaker 3: of California campus. John Tucker Bloomberg Radio, all.
Speaker 6: Right, John, Thanks well.
Speaker 1: Lawmakers are calling more university leaders to Capitol Hill to
Speaker 1: testify about anti Semitism on campus, and Bloomberg's Nancy Lyons reports.
Speaker 6: With pro Palestinian protests and encampments growing at universities across
Speaker 6: the country, the House Committee on Education in the Workforce
Speaker 6: is expanding its questioning about campus activity. It's now calling
Speaker 6: on the presidents of Yale, the University of Michigan, and
Speaker 6: UCLA to testify May twenty third. The presidents of Harvard, MIT,
Speaker 6: and Penn appeared before the committee in December, while the
Speaker 6: president of Columbia testified in early April. Most who have
Speaker 6: appeared before the committee have been criticized by some lawmakers
Speaker 6: as being evasive and overly legalistic. In Washington, Nancy Lyons
Speaker 6: Bloomberg Radio.
Speaker 7: All Right, Nancy, thank you.
Speaker 2: Then, the Middle East Secretary of State Anthony Blincoln continues
Speaker 2: his push for a ceasefire between Israel and Hamas. Blincoln
Speaker 2: met today in Tel Aviv with Israeli President Isaac Herzog,
Speaker 2: and he called on Hamas to accept Israel's terms for
Speaker 2: appause in fighting in exchange for hostages.
Speaker 8: We're determined to get a ceasefire that brings the hostages vault,
Speaker 8: and to get it now, and the only reason that
Speaker 8: that wouldn't be achieved is because of Hamas.
Speaker 2: And Secretary Blincoln says the release of hostages in Gaza
Speaker 2: is at the heart of US foreign policy. That policy
Speaker 2: may be shifting when it comes to Palestinians caught up
Speaker 2: in the fighting. According to CBS News, the Biden administration
Speaker 2: is considering allowing certain Palestinians into the US as refugees
Speaker 2: if they have family members who are American citizens or
Speaker 2: permanent residents. Until now, the more than four decade old
Speaker 2: US refugee program has never been used to resettle Palestinians
Speaker 2: in large numbers.
Speaker 1: Well Nathan in Legal News this morning, former President Donald
Speaker 1: Trump is getting a break from his Manhattan hush money
Speaker 1: trial today, but there have been significant developments in the
Speaker 1: last twenty four hours. In Bloomberg Law, host Doing Granso
Speaker 1: has the details from New York.
Speaker 9: Donald Trump was held in contempt of court yesterday and
Speaker 9: fined nine thousand dollars for repeatedly violating a gag order
Speaker 9: that barred him from making public statements about witnesses and jurors.
Speaker 9: The judge warned that if there are other violations, Trump
Speaker 9: may end up in jail, and the jury heard the
Speaker 9: most vivid testimony yet about payments to silence a former
Speaker 9: Playboy playmate, Karen McDougall at an adult film star Stormy
Speaker 9: Daniels before the twenty sixteen election. Los Angeles attorney Keith Davidson,
Speaker 9: who represented both, recounted frantic talks with Trump's former lawyer,
Speaker 9: Michael Cohen and the National Inquirer, whose publisher wanted to
Speaker 9: help Trump win the presidency. In New York, June, Gross
Speaker 9: Obenberg Radio.
Speaker 7: All right, June, thank you.
Speaker 2: Turning to Market's futures are lower as we begin this
Speaker 2: new trading month. The S and P five hundred dropped
Speaker 2: more than four percent in April, snapping a streak of
Speaker 2: five straight monthly gains. The dollar notched its fourth consecutive
Speaker 2: monthly advance. That's the longest winning run for the greenback
Speaker 2: since September twenty twenty two.
Speaker 1: Well Nathan Corporate earnings continued to be front and center.
Speaker 1: Shares of Amazon at more than two percent in early trading.
Speaker 1: Profit and revenue came in above analyst estimates. The company's
Speaker 1: cloud unit, AWS posted the strongest sales growth in a year.
Speaker 1: Begin More from Bloomberg Technology Host and Ludlow from San Francisco.
Speaker 10: AWS is the clear market leader in cloud, bigger than
Speaker 10: Microsoft as you're certainly bigger than Google's cloud platform. It's
Speaker 10: seeing accelerating growth. Growth in the fourth quarter was about
Speaker 10: thirteen percent, It's now nearer to fourteen and a half
Speaker 10: fifteen percent, and the strategy is basically be a place
Speaker 10: where other companies who are interested in AI can build
Speaker 10: whatever software it is they want on aws's platforms.
Speaker 6: Bloomberg's and Ludlow says.
Speaker 1: Despite the strong cloud performance, the company's sales forecast for
Speaker 1: the current quarter fell short of estimates.
Speaker 2: Karen A couple other high tech companies are taking it
Speaker 2: on the chin. This morning, shares of Advanced micro Devices
Speaker 2: are down more than six percent. The second biggest maker
Speaker 2: of computer processors gave a lukewarm revenue forecast for the
Speaker 2: current period. It's being weighed down by lackluster demand for
Speaker 2: chips used in video game hardware.
Speaker 1: Well Nathan, shares of a super microcomputer are down nine
Speaker 1: and a half percent. The company did report quarterly sales
Speaker 1: that tripled from the same period last year, but they
Speaker 1: fell slightly short of estimates. That's disappointing investors who had
Speaker 1: sky high expectations that the server maker's business would benefit
Speaker 1: from AI related demand.
Speaker 2: And Starbucks investors are getting a jolt to the downside.
Speaker 2: Those shares are down twelve percent. Sales at the coffee
Speaker 2: chain fell for the first time since twenty twenty. If
Speaker 2: this morning's declined holds, it would be Starbucks' biggest stock
Speaker 2: drop since March of twenty twenty, the early days of
Speaker 2: the pandemic.
Speaker 1: Well Nathan, Let's turn to the economy now. The Fed
Speaker 1: is expected to leave rates on hold once again, but
Speaker 1: attention will turn to j Powell's news conference after their decision.
Speaker 1: We get a preview from Bloomberg's Michael McKee.
Speaker 11: If today's FED meeting were a Dickens novel, it might
Speaker 11: be called small expectations. Policymakers are not going to change
Speaker 11: the nation's benchmark interest rate, They are not providing new
Speaker 11: economic forecasts, and they are not issuing a new dot
Speaker 11: plot outlook for rates. Chair j Powell's press conference is
Speaker 11: essentially the only chance for any market moving news, and
Speaker 11: he will be working hard not to provide any expected
Speaker 11: to maintain the FED line. We don't have enough confidence
Speaker 11: to cut rates, and we're not thinking of raising rates,
Speaker 11: at least not yet. Michael McKee, Bloomberg Radio.
Speaker 1: All right, Mike, thanks well for full team coverage at
Speaker 1: the FED decision and Powell news conference. Day tuned to
Speaker 1: a Bloomberg Radio and television for the Bloomberg Surveillance special
Speaker 1: the Fed discides. It all begins at one thirty pm
Speaker 1: Wall Street Time. But it's time now for a look
Speaker 1: at some of the other stories making news in New
Speaker 1: York and around the world, and for that we're joined
Speaker 1: by Bloomberg's Michael Barr.
Speaker 6: Michael, Good Morning, Good morning.
Speaker 4: Karen. Tim Kennedy declared victory in a special election to
Speaker 4: replace former New York Representative Brian Higgins and serve the
Speaker 4: rest of the term. It keeps the Buffalo area district
Speaker 4: and Democrats control. Higgins resign in February after being named
Speaker 4: president of a performing arts center in Buffalo. Kennedy, a
Speaker 4: state senator, defeated Republican Gary Dixon, a town supervisor in
Speaker 4: the upstate New York district that includes the cities of
Speaker 4: Buffalo and Niagara in the heavily blue district.
Speaker 5: This victory is your victory.
Speaker 4: This victory is our victory.
Speaker 2: Tonight, we are one step closer to preserving.
Speaker 4: Tom audio courtesy of WIVBTV. The margin of victory for
Speaker 4: Kennedy was seventy eight to twenty two percent. A six
Speaker 4: week abortion ban takes effect today in Florida, replacing a
Speaker 4: previous restriction of fifteen weeks. National Right to Life President
Speaker 4: Carol Tobias.
Speaker 6: I'm very excited about fifty percent of all abortions occur
Speaker 6: after that point in pregnancy, so this bill is going
Speaker 6: to save a.
Speaker 11: Lot of lives.
Speaker 4: Meanwhile, Michelle Cassada, a spokeswoman for Planned Parenthood in Florida,
Speaker 4: says the band will have an immediate impact in the state.
Speaker 12: We're looking at tens of thousands of patients that are
Speaker 12: either going to have the travel hundreds, if not thousands
Speaker 12: of miles to another state with access, or be forced
Speaker 12: to carry a pregnancy against their will.
Speaker 4: Casada says most women who seek abortion care are between
Speaker 4: eight and ten weeks pregnant. New York City police fatally
Speaker 4: shot a man after a brief stand off in Manhattan.
Speaker 4: Officials say two officers had an investigator with a Department
Speaker 4: of Homeland Security part of a gang violence task force,
Speaker 4: identified and approached the twenty five year old man suspected
Speaker 4: of committing a violent crime. The n MYPD says the
Speaker 4: man ran inside an optical story he was standing in
Speaker 4: in front in Chelsea Chaef. Joseph Kennedy, a Kennedy reader
Speaker 4: says that the man produced a gun and after a
Speaker 4: brief struggle, shots were fired.
Speaker 10: The mail was removed to an area hospital, where he
Speaker 10: was pronounced dead.
Speaker 4: A member of the task for US received minor injuries.
Speaker 4: The Biden administration is taking a major step toward reclassifying
Speaker 4: marijuana as a less dangerous drug. The move would not
Speaker 4: legalize pot, but the consequences for using it would be
Speaker 4: less severe. Global News twenty four hours a day and
Speaker 4: whenever you want it with Bloomberg News Now Michael Barr
Speaker 4: and this is Bloomberg Heart.
Speaker 1: Sorry Michael Burr, thank you time now for the Bloomberg
Speaker 1: Sports Update with John stash Hour.
Speaker 13: John, Good morning, Good morning Care on the Mixter getting
Speaker 13: read of head back to Philadelphia for our game six tomorrow,
Speaker 13: and it certainly didn't look like that was going to
Speaker 13: be the case. Game five that the guard Knicks led
Speaker 13: the Sixers by six with twenty eight seconds to go,
Speaker 13: but Tyrese Maxie with a four point play, and after
Speaker 13: Josh Hart missed a free throw, Maxie with a three
Speaker 13: pointer from about thirty five feet forced overtime. Six Ers
Speaker 13: trailed by five and ot came back. They won one
Speaker 13: twelve to one oh six as Maxie scored forty six points.
Speaker 13: Jalen Brunson had forty in the loss. Nick touchdown. Thibodeaux
Speaker 13: asked about how regulation ended, and again.
Speaker 14: In those situations, you talk about what you want to
Speaker 14: do there out of timeouts. Josh, you's got two free throws,
Speaker 14: it's two, So you have to, you know, communicate what
Speaker 14: your decisions are. And so you know, we could have
Speaker 14: done better in that situation.
Speaker 4: And we will.
Speaker 13: Two other games in the East Milwaukee State Alive one
Speaker 13: fifteen ninety two over Indiana's the leads three to two.
Speaker 13: Cleveland top to Orlando by a point, Caves are up
Speaker 13: three to two. Home teams won every game the season's
Speaker 13: over for the Islanders. They fought back in Raleigh, down
Speaker 13: three to one, game was tied going to the third
Speaker 13: period Carolina with two goals in eight seconds. Hurricanes won
Speaker 13: six to three and the Kynes will now take on
Speaker 13: the Rangers in the second round Toronto in overtime win
Speaker 13: at Boston, cutting the Bruins lead to three to two,
Speaker 13: Nashville one. In Vancouver, Colorado finished off Winnipeg at Cityfield.
Speaker 13: Three run homer, sixth towenty for DJ Stewart gave the
Speaker 13: Mets the six to one, went over the Cubs another
Speaker 13: two run light hitting Yankee loss in Baltimore Orioles one
Speaker 13: forty two. Johns Stashawa, Bloomberg Sports Canon Nathan.
Speaker 8: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 8: and around the world on Bloomberg dot Com and the
Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm
Speaker 8: Nathan Hager. We want to get more now.
Speaker 2: In the big tech earning story of the morning, that
Speaker 2: would be Amazon. The e commerce giant reported profit and
Speaker 2: revenue in the first quarter that did beat Wall Street estimates,
Speaker 2: with its strongest sales growth in the cloud in a year,
Speaker 2: but the forecast for the current quarter is falling short
Speaker 2: in what may be a warning sign for the main
Speaker 2: e commerce business over at Amazon. Let's bring in Dan
Speaker 2: Ives for more on these results. Senior equity research analysts
Speaker 2: at white Bush Securities.
Speaker 7: Dan, good morning.
Speaker 2: I know you and a lot of analysts were focused
Speaker 2: really closely on the cloud. Did AWS come through for you?
Speaker 5: I can't. This is a trophy case quarter for AWS.
Speaker 5: Seventeen percent, I mean whispers were fifteen percent. This is
Speaker 5: exact what Amazon needed to do to show that the
Speaker 5: cloud moved. Joe is back, very important quarter for Jase
Speaker 5: and Amazon.
Speaker 2: What about the forecast for the current quarter? It did
Speaker 2: come in a little bit weaker than a lot of
Speaker 2: analysts expected. Could that be a concern not just FORAR
Speaker 2: the e commerce side, but for the cloud?
Speaker 5: Yeah, it could be, but I think streets we can do.
Speaker 5: This is conservative and that's why stock will be up today.
Speaker 5: Look a key with this name, especially in the shadows
Speaker 5: of a massive number from my Microsoft and Google. Amazon
Speaker 5: needs to come to ourn AWS and it sures not
Speaker 5: just on cloud, but now the next step in terms
Speaker 5: AI jazzing and Amazon monetizing that that's the golden Dews.
Speaker 5: That's what the streets focused on.
Speaker 2: Obviously, AWS is the dominant player in the cloud. Do
Speaker 2: these results show that the cloud side did enough to
Speaker 2: maintain that position against the pretty impressive numbers we saw
Speaker 2: last week from Microsoft and alphabet for their cloud units.
Speaker 5: Yeah. I think in this game of thrones, they're keeping up.
Speaker 5: And that's the important thing because this is not just
Speaker 5: a winner takes all. You're going to see many, many
Speaker 5: winners in this AI revolution. Amazon's going to be key
Speaker 5: player there. But now you're starting to see a company
Speaker 5: that i'd say the last few quarters backwards against the wall.
Speaker 5: It's starting to turn and that is huge for the
Speaker 5: stock and it's something that I think investors, even on
Speaker 5: a ripple effect, they're going to look to the rest
Speaker 5: of tech. It sures this tech earning season has been robust,
Speaker 5: all the big textarll wards coming through.
Speaker 2: Can these text stalwarts maintain this kind of trajectory when
Speaker 2: we could see potentially some macro risks when it comes
Speaker 2: to enterprise spending on AI products. Do you think this
Speaker 2: kind of demand can continue to be maintained in this
Speaker 2: economic environment.
Speaker 5: Yeah, it's a great clause. Well, I think on the edges,
Speaker 5: I mean, there could be some soft spots, but overall,
Speaker 5: this is a fourth Industrial Revolution that's planning out, and
Speaker 5: I think that's what we see across tech. You know,
Speaker 5: it's not going to be straightened to the right, but
Speaker 5: it's something that we have not seen since nineteen ninety
Speaker 5: five at the.
Speaker 2: Time we have left Dan, I want to get your
Speaker 2: take on this confirmation that we've gotten from Tesla that
Speaker 2: the supercharger network, just about all the workers involved in
Speaker 2: it are being a lit eminated. I wonder what you
Speaker 2: make of that move from elon Musk.
Speaker 5: Look, it's tough decisions that they're making on these cost cuts,
Speaker 5: but that's the street ones to see. He'll rebuild it back.
Speaker 5: But it shows now you finally have an adult in
Speaker 5: the room with Musk and Nats and investors want to
Speaker 5: see in Tesla after a very very tough six to
Speaker 5: nine months.
Speaker 2: What could it mean though in terms of EV demand.
Speaker 2: I mean, a lot of concern is around range anxiety, right,
Speaker 2: and if the growth of supercharger doesn't potentially stay where
Speaker 2: it has been, what could that mean for EV demand
Speaker 2: going forward?
Speaker 5: Look, I think writing is in the wall, and I
Speaker 5: think Musk has seen you know, we've seen in Tesla's results.
Speaker 5: They're going to have to slow down the supercharge to
Speaker 5: build out even with these OEM deals. And I think
Speaker 5: it just shows it's been some dark days for ev demand,
Speaker 5: but the growth is not over. But it's this smart
Speaker 5: move for Tesla, even though it's a head scratcher that
Speaker 5: they actually got rid of the whole department.
Speaker 7: This is Bloomberg day Break Today, your morning brief on
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Speaker 7: Listen coast to coast on the Bloomberg Business app, seriusxmb
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Speaker 6: And I'm Karen Moscow.
Speaker 1: Join us again tomorrow morning for all the news you
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Speaker 14: And the