Speaker 1: Live from the Bloomberg Interact at Burger Studios. It is
Speaker 1: Bloomberg Daybreak for Thursday, June second two. Coming up the shower,
Speaker 1: another deadly mass shooting in the US, this time in Tulsa.
Speaker 1: President Biden is likely to visit Saudi Arabia as gas
Speaker 1: prices surge and Cheryl Sandberg steps down from Facebook parent
Speaker 1: Metta after fourteen years. She tells us why New York
Speaker 1: Mayor Adams names of gun violence are plus. President Biden
Speaker 1: gets pushed back, saying no one anticipated the baby formula shortage.
Speaker 1: I'm Michael barr More A hand imtime stands swards forwards.
Speaker 1: Another win for the Rangers. They beat Tampa Bay in
Speaker 1: Game one the Mets. One There six own. That's all's
Speaker 1: training ahead on Bloomberg Daybreak on Bloomberg eleven three on
Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh
Speaker 1: six one, Boston Bloomberg nine sixties and Francisco syrius x
Speaker 1: M one nine team and around the world Old on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business Up
Speaker 1: and good Morning. I'm Karen Moscow, I'm Nathan Hagar. Bloomberg
Speaker 1: Daybreak is brought to you by bn Y Melon Pershing's
Speaker 1: Insight Conference back in person June fifteen through the seventeenth
Speaker 1: at the Gaylord Resort in Grapevine, Texas. Don't miss it.
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Speaker 1: And US futures are higher this morning six o one
Speaker 1: on Wall Street, and we check the markets every fifteen
Speaker 1: minutes to while the trading day on bloomberg S and
Speaker 1: P Future is up seventeen points down, futures have a
Speaker 1: hundred three Nasdack Future is up seventy three, and the
Speaker 1: ten year treasury down three thirties seconds held two point
Speaker 1: on one percent. Nathan Karen, We begin with yet another
Speaker 1: deadly mass shooting in the US, this time in a
Speaker 1: medical building in Tulsa, Oklahoma. Deputy police Chief Eric Dagley
Speaker 1: says a man carrying a rifle and a handgun opened
Speaker 1: fire on employees and visitors before turning the gun on himself.
Speaker 1: We have four civilians that are dead. We have one
Speaker 1: shooter that is dead and right now we believe that
Speaker 1: is self inflicted. Deputy Chief Ric Dalglish says it took
Speaker 1: about three minutes for officers to arrive at the scene.
Speaker 1: And they made contact with the gunman about ten minutes later.
Speaker 1: This comes after other deadly mass shootings in Yuvaldi, Texas,
Speaker 1: and Buffalo, New York that already have Democratic leaders calling
Speaker 1: for greater restrictions on guns Nathan. While President Biden contented
Speaker 1: another shooting, he is also grappling with rising gas prices
Speaker 1: that has it now planning a trip to Saudi Arabia, maybe,
Speaker 1: Morris says details from our Bloomberg newsroom in Washington. Sources
Speaker 1: tell Bloomberg News President Biden is likely to visit Saudi
Speaker 1: Arabia later this month, and that could mean the President
Speaker 1: would also meet with Crown Prince Mohammed Ben Sulman, who
Speaker 1: the U S blames for the murder of US based
Speaker 1: columnists Jamal Ka Shoji Now. Early in his presidency, Biden
Speaker 1: said he would only deal with Saudi Arabia's official head
Speaker 1: of state, King Solomon bin Abdulaziz. But the president is
Speaker 1: under increasing pressure to meet with Ben Solomon as gas
Speaker 1: prices hit record highs in Washington. I may be more,
Speaker 1: as Bloomberg daybreak, we consumers could get a bit more
Speaker 1: relief at the pump ahead of that proposed trip. According
Speaker 1: to the financial time, Saudi Arabia is prepared to produce
Speaker 1: more crude if Russian output declines substantially. Meantime, OPEC and
Speaker 1: its allies meet today, they're expected to ratify a modest
Speaker 1: increase in production. Checking prices now, Nimex crudes down two
Speaker 1: point two per cent, or two dollars fifty two cents
Speaker 1: at a hundred twelve dollars seventy three cents of barrel.
Speaker 1: Brent is down two and a quarter percent to a
Speaker 1: hundred thirteen dollar sixty six cents. Well. Nathan wall Street
Speaker 1: is still reacting to the resignation of Meta Chief operating
Speaker 1: officer Cheryl Sandberg. She became one of the most recognized
Speaker 1: figures in global business after helping Facebook transform from US
Speaker 1: start up into a multibillion dollar advertising powerhouse. Sandberg spoke
Speaker 1: about her decision with Bloomberg's Emily Chang. The decision I
Speaker 1: didn't come too rightly, but it's been fourteen years. It's
Speaker 1: been fourteen years, and I wanted to make more room
Speaker 1: to do more philanthropically. Cheryl Sandberg caused your time and
Speaker 1: Meta quoth the honor and privilege of a lifetime well
Speaker 1: sanderg leaves a complicated legacy, Karen. While she helped to
Speaker 1: build Facebook into a global giant, the company's reputation was
Speaker 1: tarnished by developing blind spots on data and misinformation. Techonomy
Speaker 1: Media CEO David Kirkpatrick called Sandberg one of the most
Speaker 1: powerful women in the business world. Well, she served as
Speaker 1: a symbol of women's success in business. There's no question.
Speaker 1: I mean for most of the last fourteen years, certainly
Speaker 1: for the last maybe ten or eleven years, she could
Speaker 1: have left Facebook at any time and become the CEO
Speaker 1: of any company in the world. And I know she
Speaker 1: was solicited for those kinds of jobs time and time
Speaker 1: again and didn't show interest because she really wanted to
Speaker 1: stay here. Techonomy Media CEO David Kirkpatrick spoke with Bloomberg
Speaker 1: Technologies Emily Chang. For more from Emily and our tech team,
Speaker 1: subscribed to the Bloomberg Technology Podcast. It's available daily wherever
Speaker 1: you get your podcasts. On Turning to the economy now, Nathan,
Speaker 1: our focus remains on the FED. St. Louis FED President
Speaker 1: James Bullard wants to raise interest rates to three and
Speaker 1: a half percent this year at de tain inflation as
Speaker 1: we get tangible evidence that play is definitely retreating, then
Speaker 1: we could look at reducing the post to rate future years,
Speaker 1: maybe late, saying The West Fan president James Bullard, spoken
Speaker 1: Economic Club of Memphis, He's traditionally been the most huggish
Speaker 1: official on the FED. A couple of Wall Street CEOs
Speaker 1: think Bullet and the FED have a very difficult road
Speaker 1: ahead of them. Karen Here's Wells Fargo CEO Charlie Sharf,
Speaker 1: the economy has to slow. The FED has been very
Speaker 1: clear about what their intentions are, and the scenario of
Speaker 1: a soft landing is very difficult to achieve and I
Speaker 1: think extremely difficult to achieve in the environment that we're
Speaker 1: in today. Wells Fargo CEO Charlie Sharf says he sees
Speaker 1: loan growth starting to moderate. His comments follow us similar
Speaker 1: warning from JP Morgan CEO Jamie Diamond. It's a hurricane.
Speaker 1: It's right now, it's kind of sunny. Things are doing fine.
Speaker 1: Everyone thinks that the FED can handle this. That hurricane
Speaker 1: is right out there down the road coming our way.
Speaker 1: We just don't know if it's a minor one or
Speaker 1: Superstorm Sandy. Both JP Morgan's Jamie Diamond and Charlie Sharf
Speaker 1: of Wells Fargo made their comments at a conference in
Speaker 1: New York. Let's update you now on some key earnings
Speaker 1: from late yesterday. Shares of Hewlett Packard Enterprise down more
Speaker 1: than six percent in early trading after the company lowered
Speaker 1: its forecast. Bomb Dog Krisner has more. The company sited
Speaker 1: a few headwinds on favorable currency movements, supply chain disruptions,
Speaker 1: and the impact of the company's exit from the Russian market.
Speaker 1: Hewlett Packard Enterprise said profit excluding some items will be
Speaker 1: as much as seven cents less than the previous guidance
Speaker 1: issued in March. HPE has been working to reduce its
Speaker 1: reliance on sales of hardware such as data center servers
Speaker 1: by encouraging customers to pay for additional services with subscriptions.
Speaker 1: In New York, I'm Doug Prisner, Bloomberg, Daybreak, all Right, Doug, Thanks,
Speaker 1: and some other stocks were following in the pre market.
Speaker 1: Shares of chewy right now are up more than seventeen percent.
Speaker 1: The pet products retailer reported profit in sales at top
Speaker 1: estimates and as usuals some volatility for games stop shares.
Speaker 1: The video game retailer reported a wider than expected first
Speaker 1: quartered at loss after falling almost three percent. Game Stop
Speaker 1: is now up about one percent. Futures are up as well.
Speaker 1: Straight ahead your latest local headlines and a check of sports.
Speaker 1: This is Bloomberg Sounds six oh seven on Wall Street.
Speaker 1: We're sixty three degrees in Central Park. Flooding issues are
Speaker 1: improving on the Bronx Server Parkway in White Plains. We'll
Speaker 1: get the latest in traffic shortly. First, Michael Bars here
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Money Michael, Good morning, Nathan. New York
Speaker 1: Mayor Eric Adams will name a gun violence are. Adams
Speaker 1: continues to be confronted with a stubbornly high number of
Speaker 1: gun offenses in the city. According to The New York Times,
Speaker 1: the Adams administration has also considered declaring a state of
Speaker 1: emergency related to the surgeon gun violence. Meanwhile, Mayor Adams
Speaker 1: also sent a stern letter to city employees that they
Speaker 1: need to stop working from home. Adams rode all city employee,
Speaker 1: you should be advised that, absent a reasonable accommodation, you
Speaker 1: are required to report to work in person for every
Speaker 1: scheduled workday, and hybrid schedules of any kind are not permitted.
Speaker 1: Baby formula makers met with President Biden for an update
Speaker 1: on ending the supply crisis in the US. There's nothing
Speaker 1: more stressful than the feeling you can't get what your
Speaker 1: child needs, he or she needs, and that's why I've
Speaker 1: directed my administration to use every tool available or increase
Speaker 1: the supply, getting more formula on shelves as quickly as possible. However,
Speaker 1: President Biden faced push back on his claims that no
Speaker 1: one predicted shutting one food plant would create a nationwide shortage.
Speaker 1: Parago Baby formula producer executive Murray Kessler told President Biden
Speaker 1: he immediately knew there would be a supply crisis when
Speaker 1: the FDA closed the Abbot formula plant. The very first
Speaker 1: thing we did when we heard about the Abbot recall
Speaker 1: was we could foresee that this was going to free
Speaker 1: a tremendous shortage. We um significantly increased all our material orders.
Speaker 1: Murray Kessler with Parago. Later, the White House Press Secretaries
Speaker 1: said the administration has been working to relieve the formula
Speaker 1: shortage since day one. The U. S. Transportation Department is
Speaker 1: making it easier for Americans to travel to Cuba, lifting
Speaker 1: flight restrictions that were established during the Trump administration. The
Speaker 1: restrictions had prevented US airline flights and chartered flights from
Speaker 1: going to Cuban cities other than Havana. The Queen's Platinum
Speaker 1: Jubilee is underway, a four day bash designed to honor
Speaker 1: her seventy years on the throne. Millions across Britain are
Speaker 1: ready to take to the streets for parties. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael Barr
Speaker 1: and this is Bloomberg, Nathan. Alright, Michael, thank you, six
Speaker 1: o nine on Wall Street, time for the Bloomberg Sports
Speaker 1: Up Day with John stash Hour. Nathan. The Rangers are
Speaker 1: in a place they had not been before in the
Speaker 1: Stanley Cup playouts. A head in the series before Game seven,
Speaker 1: Game one with Tampa Bay and a Chris Pryder goal
Speaker 1: on the Rangers first shot of the series, they led
Speaker 1: to the one, then three to two, and then the
Speaker 1: kid line Philippino Capocaco and alexis La Fronnier, all under
Speaker 1: the age of twenty two. They were on the ice
Speaker 1: for almost three minutes. He just chill up the board.
Speaker 1: I fight, but it's patted down by Cox. Heap the
Speaker 1: up pitcher to he said pillock for game, let's tud
Speaker 1: the middle hiller, he stared won a shift by the Racers,
Speaker 1: and its top is a light ship. It's fur to Rangers.
Speaker 1: He had second goal and night for the suddenly red
Speaker 1: hot Filipino. He scored eight goals in the regular season.
Speaker 1: He's got seven in the playoffs. Are Tammy Panerva scored
Speaker 1: open him in at the third period of the Mika
Speaker 1: Savanna Jad Rangers beat the Lightning six to two. Tampa
Speaker 1: had only allowed a total of three goals. Old and
Speaker 1: it's four games swape with Florida Rangers double that in
Speaker 1: one game. They've had won five the last six seven
Speaker 1: a row at the Garden where they'll be back for
Speaker 1: game two tomorrow. Met's hit the road right in a
Speaker 1: sixth game winning Today finished the swathe and Washington five
Speaker 1: nothing behind Carlos Carrasco and four it's by Thomas Nto.
Speaker 1: Now a ten game road trip, all ten in southern California,
Speaker 1: starting tonight against the Dodgers, Yankees and Angels rained down
Speaker 1: so a swit doubleheader today and tonight. NBA finals begin
Speaker 1: tonight's Celtics and Warriors in San Francisco, and also today
Speaker 1: the women's semi finals at the French Open. John Stasheller,
Speaker 1: Bloomberg Sports d Okay, John thanks SMP futures right now
Speaker 1: up nineteen points. Staff futures up A. NAZAC futures are
Speaker 1: higher by seventy seven points. The tenure treasury is down
Speaker 1: three thirty seconds. The yield two point nine yield on
Speaker 1: the two year two point six five per cent. Cheryl
Speaker 1: Sandberg looks to life beyond Facebook. Parent meta platforms will
Speaker 1: get reaction to her departure, as CEO Dan Ives of
Speaker 1: Web Securities joins us. Next, you're listening to Bloomberg Gay Break.
Speaker 1: The Bloomberg Gay Break is brought to you by Hofstre
Speaker 1: University's Frank gez Our School of Business, top ranked online
Speaker 1: NBA program with the Real World Foundation. Learned war at
Speaker 1: Hofstra dot e d u slash Go Brad markets headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot Com, the Bloomberg Business At and at Bloomberg Quick Tape.
Speaker 1: He's a Bloomberg Business Flash, and I'm Karen Moscow stocks
Speaker 1: in Europe, in US DOT Index futures are rising this morning.
Speaker 1: Investors are assessing attractive valuations and a drop in oil
Speaker 1: prices against hawkish messages from central bankers on raining and inflation.
Speaker 1: Crude oil is falling out a report that Saudi Arabia
Speaker 1: is ready to pump more oil if Russian output declines.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on bloomberg S and P futures of nineteen points
Speaker 1: this morning, down futures have a hundred twenty two and
Speaker 1: nasday futures have seventy seven. The decks in Germany's up
Speaker 1: three quarters of a percent ten, Your treasury down three
Speaker 1: thirty seconds two point on one percent. They yield them
Speaker 1: the two year two point six five percent. Nine max
Speaker 1: Screwed oil is down two point six percent, down two
Speaker 1: dollars cents and a hundred twelve dollars thirty three cents
Speaker 1: of barrel comic schooled up half percent or nine dollars
Speaker 1: twenty cents at eighteen fifty seven ninety announce the euro
Speaker 1: one point oh six eight nine against the dollar. British
Speaker 1: found one point to five for eight the end at
Speaker 1: one twenty nine point seven nine Bitcoin this morning is higher,
Speaker 1: up one percent, at twenty nine thousand, nine hundred dollars.
Speaker 1: And that's a Bloomberg business flash. Now here's Michael Barr
Speaker 1: with more on what's going on around the world. Michael Karen,
Speaker 1: thank you very much. Police officials say four people were
Speaker 1: killed in a mass shooting at a Tulsa medical building
Speaker 1: on the hospital campus. Authorities say the shooter killed himself.
Speaker 1: President Biden says no one anticipated the baby formula crisis
Speaker 1: until months after a crucial manu facturing plant was shut down.
Speaker 1: Formula makers Biden met with disagreed. Game one of the
Speaker 1: NHL East Final, the Rangers beat the Lightning six to
Speaker 1: Game one of the NBA Finals is tonight between the
Speaker 1: Celtics and Warriors. And baseball the Yankees game was reigned out.
Speaker 1: The Mets beat the Nationals, the Red Sox and Orioles won.
Speaker 1: The A's and Giants lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty seven hundred journalist and analysts more
Speaker 1: than a hundred twenty countries. Michael Bard, this is Bloomberg.
Speaker 1: Nathan all Right, Michael Thanks six nineteen on Wall Street
Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak.
Speaker 1: Let's turn more now to uh, probably the biggest corporate
Speaker 1: story of the moment. After fourteen years running the nuts
Speaker 1: and bolts of the world's biggest social media company, Cheryl
Speaker 1: Sandberg is stepping down as Chief operating Officer Facebook parent
Speaker 1: Meta Platforms. Dan Ives is with us this morning from
Speaker 1: We're on this Managing director and senior equity research channel
Speaker 1: list at Wedbush Securities. Dan, it is hard to overstate
Speaker 1: Cheryl sandburg impact turning Facebook into the powerhouse. It is.
Speaker 1: Now what's the legacy that she leaves behind. Look, I mean,
Speaker 1: she's a key reason that people know Facebook. I mean,
Speaker 1: you know, of course Zuckerberg, you know, it continues to
Speaker 1: to to sort of be the one that's going to
Speaker 1: take the legacy from here, even though it's gonna be choppy.
Speaker 1: But Cheryl is a key part of the DNA of Facebook,
Speaker 1: navigating all the challenges, the vision, the street credibility. She
Speaker 1: leaves a massive hole at Facebook, and right now I
Speaker 1: think it's some darker days ahead for Zuckerberg and team,
Speaker 1: especially with Samburg no longer in the co pilots eat.
Speaker 1: I'll talk a little bit more about that. Why do
Speaker 1: you see darker days ahead now? Well, I think, first off,
Speaker 1: I mean the company transitioning to Metaverse, obviously changing their
Speaker 1: name to Meta, the revenues not come from our three
Speaker 1: to five years and and that's going to be a
Speaker 1: bumpy transition. And right now, in terms of social media,
Speaker 1: it's really these Apple priv the iOS changes. That's been
Speaker 1: the gut punch of the business model. And that's why
Speaker 1: right now, I mean, there was always a thought she
Speaker 1: was going to leave, the fact that she's leaving right
Speaker 1: as there transitioning to Meta and the Metaverse couldn't come
Speaker 1: exactly at the right time, And I think that's why
Speaker 1: it's gonna be a negative reaction for the street as
Speaker 1: it goes to this transition. Does her departure say something
Speaker 1: about her feeling about the direction that Facebook is taking
Speaker 1: down now that it is meta platforms. Look, she's obviously
Speaker 1: become more than just a business leader. I mean, you know,
Speaker 1: worldly iconic, you know, especially with a lot of her
Speaker 1: endeavor's charity. So she's gonna, you know, be really focused
Speaker 1: on that. But you can't look past her leaving at
Speaker 1: this time. It's like looking at a tornado being like,
Speaker 1: you know, I'll go the other way, And I think
Speaker 1: that's the view of the street here and look at us.
Speaker 1: When it comes to Zuckerberg, he's not exactly Sully sellinger
Speaker 1: flying the plane. That there's not super confidence that that
Speaker 1: he can navigate some of these challenges. And that's why
Speaker 1: the bench is going to have to ultimately come through.
Speaker 1: But clearly these are almost impossible shoes to fill for
Speaker 1: you know, for for the rest of Managine team. Well,
Speaker 1: we do know that those shoes are going to be
Speaker 1: filled at least at the moment by Meta's Chief growth officer,
Speaker 1: Javier Olivan. What's your view on him? What direction do
Speaker 1: you think he's going to take the company? Look strong, background,
Speaker 1: has proven himself, you know in outside you know, of
Speaker 1: the industry. But these are herculean like challenges they have,
Speaker 1: I mean, transitioning to Meta, the name change the metaurs
Speaker 1: that's gonna be easier said than done. And this is
Speaker 1: all sort of time social media. I mean we've seen
Speaker 1: it from snapping others. Advertising continues to see massive headwinds
Speaker 1: and and Cheryl was the one, she was the pillar
Speaker 1: strength of the Street credibility despite whatever the choppiness was,
Speaker 1: and and he's going to have to start to navigate
Speaker 1: some of those challenges. But but again this continues to
Speaker 1: really be was a surprise to the Street that happened now,
Speaker 1: especially as they're going to this transition. It's not just
Speaker 1: meta platforms that's been hit hard this year. Text stocks
Speaker 1: as a whole of then hammered. They're starting to stabilize
Speaker 1: a bit. Do you think the worst is over for
Speaker 1: big tech? Look? I believe the worst is over a
Speaker 1: relative to what we're seeing on fundamentals. I think Street
Speaker 1: was anticipating a lot worst news. Ultimately the video how
Speaker 1: out does the scower sales wre's better than expected, supply
Speaker 1: chain starting to ease, Army getting was pricing the tech
Speaker 1: stocks I believe way over correct, and that's why you
Speaker 1: started investors look for bargains despite the inflationary Rubert's c
Speaker 1: mac or I think tech stocks away over sold. Here overall,
Speaker 1: just quickly our last thirty seconds here, where do you
Speaker 1: see opportunity in tech? I think software and cybersecurity, I
Speaker 1: think iber security, front and zone names a cow out,
Speaker 1: do z Scale or Tenable, Apple, Microsoft continue to be
Speaker 1: our top favorites in terms of tech, and then I
Speaker 1: think in disruptive tech, you look at EVS memes like
Speaker 1: a Tessla. You know, I think way oversold, you know,
Speaker 1: even though the Twitter Circus show continues to play on. Yeah,
Speaker 1: something else for us to watch as always, Dan, thanks
Speaker 1: for your thoughts. Dan Ives is Managing Director Senior equity
Speaker 1: research analyst at Wedbush Securities. Nasdaq futures the tech heavy
Speaker 1: age on the rise, about a half percent gain of
Speaker 1: sixty three points for dance deck futures. SMP futures are
Speaker 1: up fifteen points, that's a gain of four tenths percent,
Speaker 1: and down futures are higher by ninety four points three
Speaker 1: tenths percent increase. The tenure treasury down two thirty seconds
Speaker 1: yield two point on the benchmark ten uere Note just ahead,
Speaker 1: another deadly mass shooting and President Biden maybe headed to
Speaker 1: Saudi Arabia with gas prices on the rise. Five things
Speaker 1: you need to notice start your day. Coming up on
Speaker 1: Bloomberg day break Bloomberg eleven three oh Weather mostly CLOUDI
Speaker 1: a chance for showers and storms today with a high
Speaker 1: near eighty degrees upper seventies clearing tomorrow, giving way to
Speaker 1: sunshine for the weekend. Right now sixty three in Central Park,
Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E Living Free to Washington, d C, Bloomberg to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg M
Speaker 1: sixteen to the Country, Sirius XM to the one nine team,
Speaker 1: and around the bloom the Bloomberg Business apt in Bloomberg
Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's six thirty
Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm
Speaker 1: Karen Moscow. We are just about three hours away from
Speaker 1: the open of US trading. Time for the five things
Speaker 1: you need to notice start your day. Brown to you
Speaker 1: by Interactive Brokers Global Analysts. It helps you find new
Speaker 1: global investment opportunities to diversify your portfolio and discover undervalued
Speaker 1: companies that make may have greater growth potential. Try ib
Speaker 1: k our Global Analysts today at ib k R dot com.
Speaker 1: Slash g A first, another mass shooting in the US,
Speaker 1: this time at a medical building in Tulsa, Oklahoma, that
Speaker 1: left four dead plus the shooter. Deputy Chief Eric Douglas
Speaker 1: says it took about three minutes for officers to arrive
Speaker 1: at the scene and they made contact with a gunman.
Speaker 1: About ten minutes later. The officers that did arrive, we're
Speaker 1: hearing shots in the building and that's what directed them
Speaker 1: to the second floor. Deputy Police Chief Eric Dalgleish says
Speaker 1: a man open fire on employees and visitors before turning
Speaker 1: the gun on himself. This comes after recent mass shootings
Speaker 1: and evolved the Texas and Buffalo, New York that have
Speaker 1: Democratic leaders calling for greater restrictions on guns. Melsware in
Speaker 1: DC Karen. President Biden's planning a trip to Saudi Arabia
Speaker 1: as he looks through address rising gas prices. According to
Speaker 1: a new report from The Financial Times, Saudi Arabe is
Speaker 1: prepared to pump more crews should rushes output some stances decline.
Speaker 1: The OLPEC plus coalition meets today. It's expected to ratify
Speaker 1: and modest increase checking prices now NIMEX crews down two
Speaker 1: point four at a hundred twelve dollars forty nine cents
Speaker 1: of barrel brents at a hundred Well Nathan. The financial
Speaker 1: world is reacting to the resignation of META chief operating
Speaker 1: officer Cheryl Sandberg. She became a top figure in global
Speaker 1: business in tech during her fourteen years with the company.
Speaker 1: Sendberg tells Bloomberg's Emily Chang the decision to step down
Speaker 1: wasn't easy. It really is about how I will spend
Speaker 1: my time, not how much I've been leave in the company.
Speaker 1: I've believe in the company, but as much as I
Speaker 1: ever did and staying on board, and I really have
Speaker 1: complete confidence in the team Mark and I have built.
Speaker 1: Cheryl Zenberg says she wants to do more philanthropy. She
Speaker 1: helped transform Facebook from US start up into a multibillion
Speaker 1: dollar powerhouse, but the company's reputation was turnished by blind
Speaker 1: spots on data and misinformation. Sendberg spoke on Bloomberg Technology.
Speaker 1: You can subtrib to the daily podcast on all your
Speaker 1: podcast platforms. But turning to Inflate Chian Karen, we continue
Speaker 1: to keep a close eye on the FED. St. Louis
Speaker 1: President James Bullard says he wants to raise interest rates
Speaker 1: to three and a half percent this year to bring
Speaker 1: down inflation. And an update on key earnings from late yesterday,
Speaker 1: Shares at Hewlett Packard Enterprise down six and a half
Speaker 1: percent in early trading after the company lowered its forecast.
Speaker 1: And that's the five things you need to know to
Speaker 1: start your day. Brought to you by Interactive Brokers. SMP
Speaker 1: futures up about fifteen points this morning. Down futures of
Speaker 1: ninety Nasdack. Future is up sixty two. Straight ahead your
Speaker 1: latest local headlines, plus a check of sports. And this
Speaker 1: is Bloomberg. Thanks Karen. Six thirty three on Wall Street,
Speaker 1: sixty three degrees in Central Parker. Good volume building on
Speaker 1: the Hudson River bridges and tunnels, about ten to fifteen
Speaker 1: minute delays. More coming up in traffic. First Michael Barr
Speaker 1: with more on what's going on in New York and
Speaker 1: around the world. Good morning, Michael, Good morning, Nathan. Experts
Speaker 1: say installing technology to scan large numbers of people quickly
Speaker 1: for weapons in the New York City subway would be challenging.
Speaker 1: Eric Adams says the technology might still be worth trying,
Speaker 1: and a pop up fashion at select locations as a deterrent.
Speaker 1: The idea has gotten a closer look after a mass
Speaker 1: shooting on the subway in April. It comes as The
Speaker 1: New York Times reports Adam's plans to name a gun
Speaker 1: violence are soon. The White House is pulling back on
Speaker 1: statements made by President Biden that he was not aware
Speaker 1: the maybe formula crisis would be so severe. Bloomberg's at
Speaker 1: Baxter reports the President saying he doesn't think anybody knew.
Speaker 1: I don't think anyone anticipated the impact of the shutdown
Speaker 1: of one facility, but me Johnson. Vice President Robert Cleveland
Speaker 1: says they anticipated the crisis. We knew from the very
Speaker 1: beginning this would be a very serious about And now
Speaker 1: the White House says that they were on it from
Speaker 1: day one, and now that all production is ramping up
Speaker 1: in San Francisco. I'm at Baxter Bloomberg Daybreak. The federal
Speaker 1: government would soon be lifting travel restrictions for Americans who
Speaker 1: want to go to Cuba. The flight of restrictions, but
Speaker 1: in place during the Trump administration, prevented flights from going
Speaker 1: to Cuban cities other than Havana. With the start of
Speaker 1: the hurricane season, Miami Dade County Mayor Daniella Levine Cava
Speaker 1: and several county commissioners urged Floridians to take the necessary
Speaker 1: steps to prepare for possible storms earlier this year, especially
Speaker 1: with a system heading to Florida over the weekend. We
Speaker 1: know that the time to get ready is now. No
Speaker 1: time to wait, and especially everyone should have received their
Speaker 1: hurricane kit in the in their mailboxes at home. Mayor
Speaker 1: Levine Cava says well, a tropical disturbance is already beginning
Speaker 1: to gain speed in the Western Caribbean. It's not threatening
Speaker 1: southern Florida with a direct hit just yet, but it
Speaker 1: could bring heavy rains. The Biden administration announced hundreds of
Speaker 1: thousands of students who attended the Corinthian Colleges chain will
Speaker 1: automatically get their federal student loans canceled. Anyone who attended
Speaker 1: the now defunct chain from its collapse in We'll get
Speaker 1: their federal student debt wiped clean. Today in Britain, the
Speaker 1: Trooping the Color ceremony kicks off celebrations for the four
Speaker 1: day long weekend in honor of Queen Elizabeth's seventy years
Speaker 1: on the throne. Globally used twenty four hours a day
Speaker 1: on air and on Bloomberg quick Take, powered by more
Speaker 1: than journalists analysts more than a hundred twenty countries. I'm
Speaker 1: Michael Barr. This is Bloomberg. Nathan nice reason for parade.
Speaker 1: Thank you my Dall almost six thirty six on Wall Street.
Speaker 1: John stash Our has a Bloomberg Sports update acts Nathan
Speaker 1: the Rangers Keith winning another decisive victory, like the last
Speaker 1: two with Carolina. Those were five to two and six
Speaker 1: two and more the same. At the Garden Game one
Speaker 1: with Tampa Bay, the Rangers never trailed. Chris Prydor scored
Speaker 1: a minute eleven in. It was one one second period
Speaker 1: of ted Loops. Is up to Prider, long past the
Speaker 1: Fox hit of the pedal, of the thick of the croudel,
Speaker 1: the cover five Pctrotto hut. He starts Frank for fronto
Speaker 1: with the right he shot. There's a Rangers free game.
Speaker 1: The lead it the EPN. Then came two goals by
Speaker 1: Philiphedeos now scored seven in the postseason, and then Artemi
Speaker 1: Pinerin and Mike's avantaget in the third, and the Rangers
Speaker 1: beat the Lightning six to two. It's their first Game
Speaker 1: one victory of the postseason. They'll look to keep it
Speaker 1: going in Game two tomorrow at the Garden. With The
Speaker 1: Rangers lost their playoff opener with Pittsburgh and triple overtime,
Speaker 1: and since then they are seven oh on home ice.
Speaker 1: NBA Finals begin tonight's Celtics and Warriors in San Francisco
Speaker 1: or the Warriors are nine and oh in the playoffs,
Speaker 1: a Yankee double header with the Angels at the stadium,
Speaker 1: a day game to make up last night's rain out,
Speaker 1: and then tonight the Yanks will face show Hey Otani.
Speaker 1: The Mets will visit the Dodgers, starting a four game
Speaker 1: series in a ten game road trip, all in Southern California.
Speaker 1: Mets just won their six in a row five nothing
Speaker 1: over Washington. Carlos Carrasco improved the six and one team
Speaker 1: with three relievers on the shutout. Four hits for Tomas Niedo.
Speaker 1: French Open Women's semifinals today be the first ever Grand
Speaker 1: Fund semi her ecun year old American cook John Stashward
Speaker 1: Bloomberg Sports may All right, John, thanks six thirty seven
Speaker 1: on Wall Street. Time to take a look at Stark
Speaker 1: some of the names moving in the pre market. Bloomberg's
Speaker 1: Laura right is hard at work this morning, even with
Speaker 1: the Queen's Platinum Jubilee underway in the UK. Laura, good morning,
Speaker 1: What names you chewing on this morning? Can I just
Speaker 1: say this is quite tragic because I was also working
Speaker 1: the last Jubilee celebrating back in twent twelve. So I'm
Speaker 1: thinking that next time I will actually be able to
Speaker 1: take the tale. But I've been keeping myself busy having
Speaker 1: a look at some of the U S pre market movies.
Speaker 1: Chewy is one name I'm looking at the head of
Speaker 1: the bell rallying seventeen reporting after the bell yesterday, Ebbit,
Speaker 1: Dart and Net sales topped estimates. According to one broker, Jeffreys,
Speaker 1: they see the recent sell off as way overdone. To
Speaker 1: put this in context, Chewy is down year today, pets
Speaker 1: continued to be pampered. It's not just a dog is
Speaker 1: for Christmas mentality that the market is seeing. Nathan, Yeah,
Speaker 1: it's certainly seeing a big move there this morning, and
Speaker 1: I've gotta think meta platform shares are moving as well.
Speaker 1: With Cheryl Sandberg saying goodbye yeah ahead of the open,
Speaker 1: Meta up around one, recovering from a sharp sell off
Speaker 1: at the close yesterday. She's been chief operating officer at
Speaker 1: the social platform, been at Facebook formerly for the last
Speaker 1: fourteen years. She said she's ready to move on to
Speaker 1: other ventures, but there was talk of a potential tension
Speaker 1: between herself and the founder, Mark Zuckerberger's Facebook pivots more
Speaker 1: aggressively toward hardware and the metaverse. Sherl Sandberg specialty remember
Speaker 1: has been generating advertising revenue, Dad is something she was
Speaker 1: very successful at her former employer Google and staying in
Speaker 1: the tech space, Laura, we got earnings from HP Enterprise.
Speaker 1: How are those shows doing this morning, Hewlett Packard south
Speaker 1: of the red down ahead of the open, So the
Speaker 1: computer hardware and storage company lowered that adjusted EPs forecast
Speaker 1: for the full year. Supply Jane congestion, the war in
Speaker 1: Ukraine some of the factors that they cited. But in
Speaker 1: this environment, analysts on the market have little apptite for
Speaker 1: a myths. All right, Laura, right with us this morning.
Speaker 1: Glad to have you hear. Fingers crossed for you though
Speaker 1: on the next bank holiday Bloomberg's lare right with us
Speaker 1: this morning from London, checking futures as we get ready
Speaker 1: for the Thursday morning open. We have SMP futures higher
Speaker 1: by eighteen points, down futures up a hundred seventeen and
Speaker 1: Nasdaq futures right now are higher by seventy eight points.
Speaker 1: As you might imagine the footste London is closed with
Speaker 1: the queens celebrated seventy years on the throne. Decent reason
Speaker 1: to take a break from trading. The jacks in Germany
Speaker 1: up two thirds percent to cack in Paris higher by
Speaker 1: nine tenths of one percent. Tenure treasury is down to
Speaker 1: thirty seconds. You're two pot on the tenure note and
Speaker 1: the two year two point six five Nimex crude continuing.
Speaker 1: It's plunged down two point seven percent to a hundred
Speaker 1: twelve dollars thirteen cents apparel. You're listening to Bloomberg Daybreak.
Speaker 1: Bomb're eleven three oh weather mostly cloudy today, chance for
Speaker 1: showers and storms of behind your eighty degrees upper seventies
Speaker 1: tomorrow as skies clear for a very nice weekend. Right
Speaker 1: now sixty three in Central Park Markets. Headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's
Speaker 1: a Bloomberg Business Flash. Good morning, I'm Cameron Moscow and
Speaker 1: futures this morning on the rise, we get to the
Speaker 1: first word breaking news dance for today's morning call, and
Speaker 1: here's Maloney Bill. Good morning, Good morning, caring you as
Speaker 1: futures are in the green right now with doubt futures
Speaker 1: up a hundred and fifty points. Sysis Game twenty four
Speaker 1: will not is that futures are up by nineties six
Speaker 1: the US ten year at two point nine, gold is up,
Speaker 1: ten oil is down, and bitcoin is trading higher by
Speaker 1: one percent. Hong Kong dropped one percent overnight, while up
Speaker 1: markets are mostly in the green this morning and back
Speaker 1: in the US on the economic FRONDADP employment change at
Speaker 1: a thirty initial jobs claims and at ten o'clock factory
Speaker 1: orders and durable goods orders. After develous night, C three
Speaker 1: AI reported the stock is plunging percent pre market. Game
Speaker 1: Stop reported a wider than expected loss, but sales beat estimates,
Speaker 1: and HPE cut its annual profit forecast. Indian News Toshiba
Speaker 1: said it received eight buyout offers and wrapping things up,
Speaker 1: the C three A I was cut to neutral. Well
Speaker 1: Brad Piper live from the First Baking News Desk on
Speaker 1: Bill Maloney, car all right, Bill, thank you and here
Speaker 1: live breaking news over your Bloomberg tips, Squawk on your terminal,
Speaker 1: SCU you a w K and that's a Bloomberg business Flash. Now,
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael, Karen, thank you very much. Tell us
Speaker 1: the police say a man carrying a rifle and a
Speaker 1: handgun opened fire in a medical office building, killing four people.
Speaker 1: Authorities say the gunman took his own life. With record
Speaker 1: high gas prices, President Joe Biden is likely to visit
Speaker 1: Saudi Arabia later this month as part of an international
Speaker 1: trip for NATO and Group of Seven meetings. In Game
Speaker 1: one of the NHL East Final, Rangers beat the Lightning
Speaker 1: six two. Game one of the NBA Finals is tonight
Speaker 1: between the Celtics and the Warriors. In baseball, the Yankees
Speaker 1: game was reigned out. The Mets beat the Nationals, the
Speaker 1: Red Sox and Orioles won. The A's and Giants lost.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktech, powered by more than seven hundred journalist
Speaker 1: and analysts in more than a hundred twenty countries. I'm
Speaker 1: Michael bar This is Bloomberg. Karen, all right, Michael, thank you.
Speaker 1: Sixtine on Wall Street returned to News and Science and
Speaker 1: Technology Now with a Bloomberg and j I T. S
Speaker 1: STEMME report brought to you by New Jersey Institute of Technology,
Speaker 1: one of the nation's leading polytechnic universities and a top
Speaker 1: military friendly school. Learned more at n j I t
Speaker 1: dot edu, slash veterans and here'slet's making news and science, Technology, engineering,
Speaker 1: and math. FISER has asked you as regulators to approve
Speaker 1: its COVID vaccine for emergency use in children under the
Speaker 1: age of five last month. Finser and its partner by
Speaker 1: On Tech announced in late May that a three shot
Speaker 1: regime was highly effective in kids. Their trial is likely
Speaker 1: to pave the way for infants and toddlers to get immunized.
Speaker 1: The world's largest trunk makers says the semiconductor shortage that
Speaker 1: has heard manufacturers is easing. An executive at Diameler Truck
Speaker 1: calls the situation not perfect, but better than last year.
Speaker 1: Time learned other truck makers had to curb output at
Speaker 1: a time of strong demand because they could not obtain
Speaker 1: enough chips. And scientists have discovered the world's largest plant
Speaker 1: off the Australia coast, a sea grass meadow that has
Speaker 1: grown by repeatedly cloning itself. Genetic analysis, how revealed that
Speaker 1: the underwater fields of waving green sea grass are a
Speaker 1: single organism covering seventies square miles through making copies of
Speaker 1: itself over four thousand, five hundred years. The scientists called
Speaker 1: the meadow of Poseidon's ribbon weed the most widespread known
Speaker 1: clone on Earth, covering an area larger than Washington. That's
Speaker 1: a Bloomberg, NJ. I know that's the Bloomberg, n J.
Speaker 1: I t stem report, Nathan, Yeah, I don't think there's
Speaker 1: gonna be anything much larger than seventies square miles. That
Speaker 1: is incredible. All right, thank you, Karen. We are live
Speaker 1: from the Bloomberg Getter Active Brokers studios, where it's almost
Speaker 1: six fifty one on Wall Street time not to check
Speaker 1: what's going on in d C or. Some of the
Speaker 1: top stories include the House taking up gun legislation in
Speaker 1: the right wake of recent mass shootings, President Biden likely
Speaker 1: to visit Saudi Arabia with gas prices continuing to spiral,
Speaker 1: and baby formula makers telling the President they could see
Speaker 1: shortages coming. Bloomberg Government congressional reporter Jack Fitzpatrick is back
Speaker 1: with us from more on all these stories. Jack, good morning.
Speaker 1: We are expecting this mark up at the House Judiciary
Speaker 1: Committee today on gun legislation, and it comes after yet
Speaker 1: another deadly mass shooting in the US just yesterday and Tulsa,
Speaker 1: yes Uh. You know, I was saying on sound on
Speaker 1: just you know, thirteen hours ago that lawmakers negotiating this
Speaker 1: gun bill know that they have a short timeline. There's
Speaker 1: a certain amount of political pressure following the Vivaldi shooting,
Speaker 1: and if they take too long to negotiate something that
Speaker 1: the political atmosphere can change. And yet we see another shooting, uh,
Speaker 1: something significant enough in Tulsa so that the President has
Speaker 1: been briefed on it. Um. It's I think it probably
Speaker 1: adds a bit more political pressure, a little bit more urgency.
Speaker 1: But at the same time, lawmakers still know one to
Speaker 1: get something bipartisan done in the Senate, it has to
Speaker 1: be very very limited, maybe something regarding uh state level
Speaker 1: red flag laws. Uh. And they do need to act
Speaker 1: quickly because there there have been mass shootings in the
Speaker 1: past where Congress just didn't respond. According to the Gun
Speaker 1: Violence Archive, that shooting in Tulsa yesterday was the two
Speaker 1: hundred thirty third mass shooting event in the US this year.
Speaker 1: Talk to me a little bit more about the Senate
Speaker 1: negotiations that are underway. You mentioned something bipartisan has to
Speaker 1: happen there, and we do know that bipartisan talks have
Speaker 1: been going on while the Senates in recess. Yes, they've
Speaker 1: been meeting virtually. There's a group of senators really led
Speaker 1: by Chris Murphy from Connecticut on the Democratic side and
Speaker 1: John Cornn the Republican from Texas who really kind of
Speaker 1: was tapped by Mitch McConnell to lead those discussions to
Speaker 1: talk about something bipartisan. They have all acknowledged this would
Speaker 1: need to be quite limited, as I mentioned, you know,
Speaker 1: Lindsay Graham mentioned early on, even short of a federal
Speaker 1: red flag law, maybe incentives for states to take up
Speaker 1: their own red flag laws. That's the kind of thing
Speaker 1: they're discussing. There may be some things aside from gun
Speaker 1: control or safety measures. You know, Mitch McConnell has talked
Speaker 1: about hardening schools, so there may be some Republican provisions
Speaker 1: that are aside from that. But you know, red flag laws,
Speaker 1: potentially safer storage of guns, potentially expanded background checks, nothing
Speaker 1: that would get a huge victory lap from the advocates
Speaker 1: who have called for much more significant gun control but
Speaker 1: they are still having those conversations about something bipartisan that
Speaker 1: could realistically get sixty votes in the Senate. Apart from
Speaker 1: the gun issue, of course, the economy continues to be
Speaker 1: a major challenge for the president. Now we're hearing he
Speaker 1: may be headed to Saudi Arabia too, as gas prices
Speaker 1: continue to climb. Yes, Our our colleague Jennifer Jacobs reported UH,
Speaker 1: citing people familiar that there is a plan for President
Speaker 1: Biden to visit Saudi Arabia. The key question, UH, and
Speaker 1: I think the key expectation would be a potential meeting
Speaker 1: with Crown Prince Mohammed Ben Salomon. Keep in mind, President
Speaker 1: Biden had previously said he would only deal directly with
Speaker 1: the king rather than the Crown Prince, holding the Crown
Speaker 1: Prince largely responsible for the killing of Jamal Kashoji, the
Speaker 1: US based UH Saudi Arabian Washington Post columnists. So if
Speaker 1: there's an easing of a tent of the tensions there,
Speaker 1: and if there's some forgiveness, which may be frustrating to
Speaker 1: some in the US, including UH nine eleven survivor advocates
Speaker 1: in those types, that would be very noteworthy and something
Speaker 1: to keep in mind that you know this this this
Speaker 1: is all happening through the lens at least partly of
Speaker 1: gas prices and the pressure for Biden to to have
Speaker 1: good relations with oil producing countries. Yeah. And I'm sure
Speaker 1: that the President is also feeling pressure to do something
Speaker 1: domestically around gas prices as well. Is there anything more
Speaker 1: that the White House is talking about on that front?
Speaker 1: You know, he has acknowledged that in the short term
Speaker 1: for something really significant, there's there's not a quick fix.
Speaker 1: He has very limited options. You've seen attempts in Congress
Speaker 1: that have stalled. Uh. There there was a gas price
Speaker 1: price gouging bill that couldn't actually get out of committee
Speaker 1: in the Senate. Uh. And we are at a point
Speaker 1: where the President has gotten pretty honest and said that
Speaker 1: his his options are very limited as it as it
Speaker 1: relates to the short term. Uh, increasing gas prices. Maybe
Speaker 1: in the in the longer term, you're gonna have a
Speaker 1: broader discussion about energy policy, but the issues we're facing today,
Speaker 1: his hands are kind of tied. In our last minute
Speaker 1: or so here, Jack, let's talk more about that meeting
Speaker 1: yesterday between President Biden and baby formula manufacturers. Is it
Speaker 1: going too far? To say that this is starting to
Speaker 1: look more like a story of what did the president
Speaker 1: know and when did he know it about the potential
Speaker 1: for shortages? Yes, and he has said that he didn't
Speaker 1: know as early as some of the people in the
Speaker 1: industry who said yesterday that they could see the shortage
Speaker 1: coming and they understood earlier, evidently than the president how
Speaker 1: significant net shortage would be. I think going forward, especially
Speaker 1: if you listen to what lawmakers have said about the
Speaker 1: f d A and the slowness of the response there,
Speaker 1: there's going to be a significant push to figure out
Speaker 1: why did this information about the abbot closure and how
Speaker 1: that would affect the industry more broadly, Why did that
Speaker 1: not filter up through the f d A get to
Speaker 1: the president, Why was there not earlier action and earlier
Speaker 1: knowledge about it? Really the how that would ripple through
Speaker 1: the whole supply, because it wasn't just a matter of
Speaker 1: one closure. It's it's a major national issue that wasn't
Speaker 1: necessarily treated as such as early as it should have been.
Speaker 1: Thanks for this, Jack, God having you back on with us.
Speaker 1: Jack Fitzpatrick, congressional reporter for Bloomberg Government. You can read
Speaker 1: more about all these stories on Bloomberg dot Com or
Speaker 1: on the Bloomberg terminal. Listen to Bloomberg Radio in Washington
Speaker 1: at Bloomberg and one oh five point seven FM h
Speaker 1: D two. It is Jack Benchined Bloomberg Sound On. You
Speaker 1: can catch that show every weekday at five pm Wall
Speaker 1: Street time across Bloomberg Radio to get the very latest
Speaker 1: on what's happening in the nation's capital and the impact
Speaker 1: on markets. Looking ahead to the open, SMP futures are
Speaker 1: higher by twenty four points, now down futures up a
Speaker 1: hundred fifty eight, NASTACK futures up a hundred points, a
Speaker 1: gain of eight ten percent. The tenuere treasury down one
Speaker 1: thirty second yield two point nine zero percent. NIMEX crewed
Speaker 1: down two and three quarters percent at a hundred twelve
Speaker 1: dollars nine cents of barrel. Bloomberg Surveillance is next for
Speaker 1: Karen Moscow. I'm Nathan Hager, and this is Bloomberg