WEBVTT - US Bombs More Iran Targets, Growing Fed Inflation Fears

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with the latest on the war with

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<v Speaker 3>i Ron. For the second time this week, the US

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<v Speaker 3>has gone after Iranian military targets as both sides struggled

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<v Speaker 3>to move ahead on a peace deal. A US official

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<v Speaker 3>says for Iranian drones targeting a commercial ship were shot

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<v Speaker 3>down and a launch unit near the straight of Horror

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<v Speaker 3>moves was hit. Iran says it targeted the bases in

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<v Speaker 3>Kuwait where the US attacks came from. All this as

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<v Speaker 3>President Trump insists Iran wants to make a deal.

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<v Speaker 4>Is very much intent. They want very much to make

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<v Speaker 4>a deal. So far they haven't gotten it. We're not

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<v Speaker 4>satisfied with it, but now we will be.

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<v Speaker 5>We will be.

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<v Speaker 4>Either that or we'll have to just finish the job.

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<v Speaker 3>President Trump spoke at a White House Cabinet meeting heard

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<v Speaker 3>live on Bloomberg Radio. Bloomberg's head of Middle East coverage,

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<v Speaker 3>Suert Livingston Wallace, reports the president may be in a binding.

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<v Speaker 6>Ran shown itself to have an exceptionally high pain threshold,

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<v Speaker 6>and I suspect does consider this to be an ex

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<v Speaker 6>essential moment for the regime, and therefore, you know, is

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<v Speaker 6>not prepared to make a lot of concessions, if any

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<v Speaker 6>concessions what we can see.

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<v Speaker 3>Bloomberg Stewart living Ston Wallace reports President Trump appears to

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<v Speaker 3>be cut between Iran's demands for financial relief and ends

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<v Speaker 3>who attacks and Republican hawks who are urging him to

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<v Speaker 3>finish the job or at least not sign a bad deal.

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<v Speaker 2>Nathan Now to the latest in the war in Ukraine.

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<v Speaker 2>Vladimir Lensky is rejecting the idea of partial membership in

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<v Speaker 2>the European Union, and a letter to senior EU officials,

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<v Speaker 2>he argued that the country deserves full membership because its

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<v Speaker 2>forces are defending the blog from Russia. Here's Zelenski speaking

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<v Speaker 2>through an interpreter.

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<v Speaker 7>We we understand that much of the wealth tension is

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<v Speaker 7>currently focused on the war in Iran, but we must

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<v Speaker 7>also end the war here in Europe, a bloody conflict

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<v Speaker 7>that has now been raging at full scale for a

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<v Speaker 7>fifth year. As soon as we can strength the protection

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<v Speaker 7>against ballistic missiles, the sooner we can make diplomacy work.

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<v Speaker 2>Selenski's comments come after German Chancellor Frederick Mertz suggested Ukraine

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<v Speaker 2>could be granted an associate membership as an interim step

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<v Speaker 2>before a full accession in the future.

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<v Speaker 3>Well, now, let's turn to politics at home, Karen. Congressional

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<v Speaker 3>Democratic leaders have lost a bid for a court order

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<v Speaker 3>to block the Trump administration from prohibiting mail in voting

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<v Speaker 3>for anyone who's not on a pre approved list of citizens.

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<v Speaker 3>A federal judge ruled that the Democrats' legal challenge to

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<v Speaker 3>President Trump's executive order is premature because the restrictions haven't

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<v Speaker 3>been put in place yet. The order would ban the

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<v Speaker 3>Postal Service from sending mail in ballots to anyone who's

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<v Speaker 3>not on a government approved list compiled by the Department

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<v Speaker 3>of Homeland Security Nathan.

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<v Speaker 2>The Trump Justice Department has reportedly opened up a new

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<v Speaker 2>investigation into one of the presidents perceived political enemies, and Bloomberg.

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<v Speaker 2>John Tucker joins us with the latest John Good morning, Yeah,

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<v Speaker 2>Good morning.

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<v Speaker 8>Caeron the New York Times, reporting the agency has litpen

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<v Speaker 8>a criminal probe into Ejene Carroll, the eighty two year

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<v Speaker 8>old former magazine writer who won a civil judgment against

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<v Speaker 8>the President that he sexually abused and defamed her well.

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<v Speaker 8>This probe reportedly accuses Carol of concealing financial support for

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<v Speaker 8>her case from LinkedIn co founder Reid Hoffman, who's appears

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<v Speaker 8>Trump critic. The Justice Department has aggressively pursued investigations into

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<v Speaker 8>President Trump's political targets, including the former FBI director James

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<v Speaker 8>Colby and New York Attorney General Letitia James. The acting

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<v Speaker 8>Attorney General Todd Blanche reportedly has recused himself from this

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<v Speaker 8>case because he represented the President in Carol's lawsuit in

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<v Speaker 8>New York. I'm John Tucker Bloomberg Radio.

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<v Speaker 3>Okay, John, thank you, and President Trump's filed the new

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<v Speaker 3>version of his ten billion dollar lawsuit against the Wall

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<v Speaker 3>Street Journal. The president sued the paper over a story

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<v Speaker 3>last year that said he sent a body birthday note

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<v Speaker 3>to Jeffrey Epstein in two thousand and three with a

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<v Speaker 3>sketch of a naked woman and his signature in the middle.

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<v Speaker 3>A federal judge dismissed the president's case last month, saying

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<v Speaker 3>it came nowhere close to the legal standard for a

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<v Speaker 3>public figure to claim defamation. The new laws suit accuses

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<v Speaker 3>the journal it's reporters parent company now Jones and Chairman

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<v Speaker 3>Emeritus Rubert Murdoch of publishing the story, either knowing it

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<v Speaker 3>was false or with disregard for the truth. Several tech

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<v Speaker 3>stocks are on the move this morning, including shares of Snowflake.

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<v Speaker 3>They are surging in the pre market of nearly thirty

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<v Speaker 3>five percent. The software maker signed a six billion dollar

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<v Speaker 3>multi year agreement to use Amazon's cloud services and chips.

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<v Speaker 3>Man Deep Sing is Global head of Tech Research at

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<v Speaker 3>Bloomberg Intelligence.

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<v Speaker 9>For a company like Snowflake that has law of big

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<v Speaker 9>enterprise customers to be able to use the Amazon distribution

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<v Speaker 9>and the LM integrations they have and integrate Snowflake's data

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<v Speaker 9>for agent ig functionality, that is how you make sure

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<v Speaker 9>you don't get disintermediated. And I think that's why you

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<v Speaker 9>see the positive reaction in terms of those stocks.

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<v Speaker 3>Mandeep Saying with Bloomberg Intelligence says Snowflake also gave us

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<v Speaker 3>stronger than expected annual outlook.

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<v Speaker 2>Shares of Nebius there are more than eleven percent this morning.

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<v Speaker 2>Nathan the investment and firm Situational Awareness has reported a

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<v Speaker 2>five point six percent stake in the cloud computing services provider.

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<v Speaker 2>Before this morning's gain, shares of Nebis were already up

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<v Speaker 2>almost one hundred and fifty percent this.

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<v Speaker 3>Year, and Karen. Shares of Dell are up more than

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<v Speaker 3>four and a half percent. The Pentagon says Dell unit's

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<v Speaker 3>one of nine point seven billion dollar contract to help

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<v Speaker 3>the military handle its licenses for Microsoft software across the

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<v Speaker 3>Defense Department and intelligence community. Dell reports earnings after the

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<v Speaker 3>close of trading today, and.

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<v Speaker 2>Shares of Salesforce Nathan they're down about one and a

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<v Speaker 2>half percent. The company gave a revenue outlook that fell

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<v Speaker 2>just short of analyst estimates, as unnerving investors already concerned

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<v Speaker 2>about the possibility that artificial intelligence will disrupt the software

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<v Speaker 2>business and Kier.

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<v Speaker 3>We're also hearing from JP Morgan Chase CEO Jamie Diamond.

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<v Speaker 3>He says his bank will probably spend about a billion

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<v Speaker 3>dollars more this year than executives expected just last month.

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<v Speaker 3>Diamond says the increase is mostly driven by better performance,

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<v Speaker 3>so quote it's a good extra billion. Diamond talked about

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<v Speaker 3>his bank's performance at the Bernstein Strategic Decisions Conference.

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<v Speaker 10>I personally think that right now we're over Ernie, And

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<v Speaker 10>I know that's a hard concept, but you know, I

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<v Speaker 10>think credit losses are the kind of normalize it, but

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<v Speaker 10>they still still may be a little low volumes are

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<v Speaker 10>very high, So remember you know, when you have high volumes,

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<v Speaker 10>low credit losses and certain market we have today what's

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<v Speaker 10>a probably over Ernie, you know, but our competition is

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<v Speaker 10>also very good.

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<v Speaker 3>Jamie Diamond also says JP Morgan's on the lookout for acquisitions,

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<v Speaker 3>but he cautions the bank can be patient with capital.

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<v Speaker 2>Time now for a look at some of the other

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<v Speaker 2>stories making news in New York and around the world,

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<v Speaker 2>and for that we're joined by Bloomberg's Michael Barr.

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<v Speaker 3>Michael, good Morning, Good morning, Karon.

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<v Speaker 5>The Democratic Republic of Congo is seeking access to an

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<v Speaker 5>experimental antibody treatment targeting multiple ebola strains, as confirmed infections

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<v Speaker 5>and deaths continue climbing in the country's east. According to

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<v Speaker 5>the Health Ministry, they are reported one hundred and twenty

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<v Speaker 5>one confirmed bola cases and seventeen confirmed deaths in Congo.

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<v Speaker 5>Suspected cases climb to almost eleven hundred and suspected deaths

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<v Speaker 5>reached two hundred and thirty eight overall. Doctor cheekway Hekuazoo

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<v Speaker 5>is with the World Health Organization. He says they are

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<v Speaker 5>quickly trying to get ahead of the spread by getting

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<v Speaker 5>infected people in the treatment and isolated.

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<v Speaker 11>What is always a game of cat and moss because

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<v Speaker 11>we have to be we don't know where to come from,

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<v Speaker 11>we don't know when, so we have to kind of

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<v Speaker 11>continuously work with what we have in order to get

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<v Speaker 11>to where we.

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<v Speaker 4>Need to be.

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<v Speaker 5>Ebola is spread through contact with body fluids of infected, sick,

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<v Speaker 5>or dead individuals. Recovery crews are continuing to search for

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<v Speaker 5>nine people who went missing when a tank containing a

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<v Speaker 5>highly corrosive industrial chemical ruptured at a paper mill in Washington. State.

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<v Speaker 5>Officials say that two people are known to have died

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<v Speaker 5>in the accident and seven others have been injured. Washington

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<v Speaker 5>State Governor Bob Ferguson says it has been emotional for

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<v Speaker 5>the residents of Longview.

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<v Speaker 3>You know, any time you're talking about that scale of tragy,

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<v Speaker 3>that scope of tragy and that number of lives lost

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<v Speaker 3>and injured, it's a pre profound impact.

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<v Speaker 5>For community like this, Governor Ferguson. Officials say there is

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<v Speaker 5>no chance of survival for the nine who are missing.

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<v Speaker 5>New York lawmakers approved a revenue package that includes a

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<v Speaker 5>new surcharge on price. He's second homes in the city.

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<v Speaker 5>The levy is expected to take effect July first. The

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<v Speaker 5>goal is to generate five hundred million dollars to help

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<v Speaker 5>close New York City's budget hole. Global news twenty four

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<v Speaker 5>hours a day and whenever you want it with Bloomberg

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<v Speaker 5>News Now. I'm Michael Barr, and this is Bloomberg Karen.

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<v Speaker 2>Thanks Michael a time now for our Bloomberg Sports Update,

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<v Speaker 2>and for them we bring in John stash Hour.

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<v Speaker 12>Bes Darren is great a hitter as Joe Ayozani is.

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<v Speaker 12>This season, he's been an even better pitcher at Dodger

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<v Speaker 12>Stadium and hit a monster leadoff home run and on

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<v Speaker 12>the mound he worked six innings, gave up a run

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<v Speaker 12>but no hits. Lower to Zer to zero point eight two.

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<v Speaker 12>The Dodgers beat the Rocky four to one. Carolina Hurricanes

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<v Speaker 12>are now eleven and one in the Stanley Cup Playoffs.

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<v Speaker 12>They scored three goals in a span of less than

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<v Speaker 12>three minutes, scored an empty netter, and won four to

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<v Speaker 12>nothing at Montfreal. The Hurricanes leave the series three games

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<v Speaker 12>to one. That's for Bloomberg Sports Update.

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<v Speaker 2>Stay with us. More from Bloomberg Day Break coming up after.

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<v Speaker 1>This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 3>Good morning, I'm Nathan Hager. The war with Iran is

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<v Speaker 3>now at the three month mark, and once again the

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<v Speaker 3>US is going after Iranian targets near the Strait of Hormuz,

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<v Speaker 3>even as President Trump says Tehran is desperate to make

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<v Speaker 3>a deal.

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<v Speaker 4>They're negotiating on fumes. But we'll see what happens. Maybe

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<v Speaker 4>we have to go back and finish it. Maybe we don't.

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<v Speaker 3>That was President Trump at a White House Cabinet meeting

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<v Speaker 3>herd live on Bloomberg Radio, joining US now as Bloomberg

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<v Speaker 3>Middle East correspondent to Bloomberg Horizons anchored Jumana Bursecci Jamana.

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<v Speaker 5>Good morning.

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<v Speaker 3>Are the latest strikes the US finishing it?

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<v Speaker 5>Good morning?

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<v Speaker 13>Yeah, Well, look at another test of the seas far

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<v Speaker 13>the second time this week that we see an incident

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<v Speaker 13>across the Strait of Hormones, but the US saying that

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<v Speaker 13>they acted in a defensive capacity. They shot down four

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<v Speaker 13>drones that were being directed at a US commercial vessel.

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<v Speaker 13>They also went on to target a drone launching site

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<v Speaker 13>in Iran as well, at close to the port of Bendarabas,

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<v Speaker 13>which is very close to the Strait of Hormos. In return,

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<v Speaker 13>Iran saying that they would stride back at US military base,

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<v Speaker 13>and around the same time Kowaits reported that their air

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<v Speaker 13>defense system had been triggered, and so perhaps you could

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<v Speaker 13>infer that the Iranian response did come through on that base.

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<v Speaker 13>There's been no confirmation of that matter. But the point

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<v Speaker 13>is here that the US did say they were acting

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<v Speaker 13>defensive capacity, that the seas far is still being upheld,

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<v Speaker 13>and we truly are not seeing any further signs from

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<v Speaker 13>both sides that they want to escalate this further or

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<v Speaker 13>actually resume full scale military hostilities. And in fact, yesterday

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<v Speaker 13>even irgc A spokesperson was saying that the likelihood of

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<v Speaker 13>returning back to full all out war was low, but

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<v Speaker 13>that they were ready for it if it does happen.

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<v Speaker 3>Well, where does this leave things then, when it comes

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<v Speaker 3>to the negotiations with the sort of tit for tat

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<v Speaker 3>happening near the Strait of Horror moves is the straight

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<v Speaker 3>the focal point at this point?

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<v Speaker 13>Well, I think the strait and clearing up the Straight

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<v Speaker 13>is top of mind, especially for President Trump. He made

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<v Speaker 13>lots of comments about it yesterday. You just played a

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<v Speaker 13>little bit of a clip he's saying, it's international waters,

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<v Speaker 13>the Strait's going to be open to everybody. The US

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<v Speaker 13>will watch over it. And this is i think a

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<v Speaker 13>response also to some of the language that's coming through

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<v Speaker 13>from Iranian media suggesting that Iran once again are insisting

0:11:48.400 --> 0:11:50.520
<v Speaker 13>that they have a right to ownership, of a right

0:11:50.600 --> 0:11:54.400
<v Speaker 13>to controlling the strait and establishing a new protocol in

0:11:54.440 --> 0:11:57.560
<v Speaker 13>the future, even a joint system with Oman, which of

0:11:57.600 --> 0:12:03.400
<v Speaker 13>course the President and eyed and rebuked quite quite aggressively

0:12:03.480 --> 0:12:07.120
<v Speaker 13>yesterday he even threatened Oman. But that is one of

0:12:07.200 --> 0:12:09.520
<v Speaker 13>the issues that they are going to be discussing and

0:12:09.520 --> 0:12:14.000
<v Speaker 13>continue to discuss around the framework for progressing on the negotiations.

0:12:14.040 --> 0:12:15.760
<v Speaker 13>And the first part of the deals we spoke about

0:12:15.800 --> 0:12:19.439
<v Speaker 13>would be the lifting of the blockades around the Strait

0:12:19.480 --> 0:12:23.120
<v Speaker 13>of Hormos, an extension of that ceasefire, and then every

0:12:23.120 --> 0:12:25.320
<v Speaker 13>opening up of the nuclear file. But how to do

0:12:25.360 --> 0:12:28.120
<v Speaker 13>it in a manner whereby the US aren't offering too

0:12:28.120 --> 0:12:32.000
<v Speaker 13>many concessions to Iran upfront in the form of lifting

0:12:32.080 --> 0:12:36.840
<v Speaker 13>of some of those sanctions and unfreezing assets. So that's

0:12:36.840 --> 0:12:37.720
<v Speaker 13>the big question mark.

0:12:37.760 --> 0:12:40.520
<v Speaker 3>Now, So what is the bind that the president's in

0:12:40.880 --> 0:12:45.680
<v Speaker 3>right now with Iran continuing to insist on, you know,

0:12:45.800 --> 0:12:52.000
<v Speaker 3>financial support and pressure in Washington for the President not

0:12:52.120 --> 0:12:54.160
<v Speaker 3>to make a bad deal. We have about a minute laught.

0:12:54.360 --> 0:12:57.160
<v Speaker 13>Yeah, I mean, that's the thing. And you know they

0:12:57.240 --> 0:12:59.520
<v Speaker 13>used to say in Brexit around the time of Brexits

0:12:59.559 --> 0:13:02.160
<v Speaker 13>and no deal is better than a bad deal. And

0:13:02.200 --> 0:13:05.839
<v Speaker 13>I think in this situation it is obvious that the

0:13:05.880 --> 0:13:08.160
<v Speaker 13>president does actually want to go down the path of

0:13:08.200 --> 0:13:10.520
<v Speaker 13>a deal. There were many opportunities in the past week

0:13:10.520 --> 0:13:12.800
<v Speaker 13>where he could have gone down the military routes. He

0:13:12.800 --> 0:13:16.079
<v Speaker 13>hasn't done that. He does say that and describe the

0:13:16.200 --> 0:13:19.120
<v Speaker 13>Ranians as being keen to make a deal. And certainly

0:13:19.200 --> 0:13:22.400
<v Speaker 13>there's been a big push diplomatically. Cutter are emerging now

0:13:22.440 --> 0:13:24.760
<v Speaker 13>as a key mediator. The focus has shifted away from

0:13:24.800 --> 0:13:28.240
<v Speaker 13>Pakistan to Kutar. They're working very hard. I think all

0:13:28.320 --> 0:13:30.680
<v Speaker 13>golf Arab states have also changed their tune as well.

0:13:30.840 --> 0:13:33.200
<v Speaker 13>So there is going to be a big push. But again,

0:13:33.240 --> 0:13:35.439
<v Speaker 13>as we've been speaking about, in all likelihoods, we will

0:13:35.440 --> 0:13:39.240
<v Speaker 13>probably get a framework for an eventual peace deal, not

0:13:39.440 --> 0:13:42.520
<v Speaker 13>a fully fledged, comprehensive piece deal that is going to

0:13:42.520 --> 0:13:43.520
<v Speaker 13>be announced on day one.

0:13:45.480 --> 0:13:48.920
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