1
00:00:01,840 --> 00:00:04,720
Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Chrisner.

2
00:00:05,120 --> 00:00:08,200
Speaker 1: President Trump held a rally tonight in Warren, Michigan, to

3
00:00:08,280 --> 00:00:11,639
Speaker 1: celebrate his one hundredth day in office for a second term.

4
00:00:12,000 --> 00:00:16,400
Speaker 1: Trump defended his economic policies, including tariffs, and he claimed

5
00:00:16,440 --> 00:00:20,240
Speaker 1: they will inspire growth and lower manufacturers back to the US.

6
00:00:20,720 --> 00:00:23,840
Speaker 1: Speaking to his supporters, Trump said countries from around the

7
00:00:23,840 --> 00:00:27,760
Speaker 1: world have contacted his administration about trade deals.

8
00:00:28,400 --> 00:00:32,160
Speaker 2: They're coming from India, They're coming from France. They're coming

9
00:00:32,240 --> 00:00:37,000
Speaker 2: from Spain. Yeah, they're coming from China too. Yeah, they're

10
00:00:37,000 --> 00:00:39,680
Speaker 2: coming from China. They're coming from all over the world

11
00:00:39,720 --> 00:00:40,120
Speaker 2: to see you.

12
00:00:40,240 --> 00:00:40,720
Speaker 3: President.

13
00:00:41,240 --> 00:00:44,000
Speaker 2: They want to make a deal. They want to make

14
00:00:44,040 --> 00:00:47,280
Speaker 2: a deal, and you know, we'll make deals, but we

15
00:00:47,320 --> 00:00:51,120
Speaker 2: don't have to. We are the ones that have the product.

16
00:00:51,240 --> 00:00:53,840
Speaker 2: We are the ones at the United States. They want

17
00:00:53,880 --> 00:00:56,600
Speaker 2: a piece of our product, we can just set the price.

18
00:00:56,880 --> 00:00:58,840
Speaker 2: But I want to be respectful and I want to

19
00:00:58,880 --> 00:01:02,480
Speaker 2: be nice. But if it takes too long, I'll just

20
00:01:02,520 --> 00:01:04,800
Speaker 2: set a price. Say you could buy, or you don't

21
00:01:04,800 --> 00:01:05,360
Speaker 2: have to buy.

22
00:01:05,520 --> 00:01:09,120
Speaker 1: That is President Trump, speaking earlier tonight ian Warren, Michigan.

23
00:01:09,200 --> 00:01:12,759
Speaker 1: He also renewed his criticism of FED shared Jay Powell,

24
00:01:12,800 --> 00:01:17,440
Speaker 1: although not mentioning Powell by name, Trump said inflation is

25
00:01:17,480 --> 00:01:21,240
Speaker 1: basically down and interest rates came down despite the fact

26
00:01:21,280 --> 00:01:23,960
Speaker 1: that he has a FED person who is not really

27
00:01:24,000 --> 00:01:27,200
Speaker 1: doing a good job. He also highlighted his efforts to

28
00:01:27,319 --> 00:01:31,640
Speaker 1: curb illegal immigration, and we got reaction from Republican strategist

29
00:01:31,680 --> 00:01:35,959
Speaker 1: Lanhi Chen who said immigration has been a huge sticking point.

30
00:01:36,080 --> 00:01:38,520
Speaker 4: I think the goal of the speech tonight was to

31
00:01:38,560 --> 00:01:41,400
Speaker 4: make the case that the administration has moved on the

32
00:01:41,440 --> 00:01:43,920
Speaker 4: two issues that I think Americans elected Donald Trump to

33
00:01:43,920 --> 00:01:46,480
Speaker 4: deal with. One was the border and the second was

34
00:01:46,520 --> 00:01:50,840
Speaker 4: the economy. Now, obviously there's a lot of ancillary stuff

35
00:01:50,840 --> 00:01:52,880
Speaker 4: that comes with any President Trump's speech.

36
00:01:53,040 --> 00:01:56,960
Speaker 1: That is Republican's strategist Lanhee Chen speaking there. Separately, the

37
00:01:57,000 --> 00:01:59,760
Speaker 1: President signed a pair of executive orders to ease the

38
00:02:00,000 --> 00:02:03,200
Speaker 1: impact of these tariffs on the auto industry. This came

39
00:02:03,240 --> 00:02:07,440
Speaker 1: after weeks of lobbying from automakers, parts suppliers, and dealers

40
00:02:07,680 --> 00:02:11,480
Speaker 1: who warrant excessive levies could push car prices higher. One

41
00:02:11,560 --> 00:02:15,600
Speaker 1: directive includes an executive order exempting imported automobiles from a

42
00:02:15,639 --> 00:02:19,200
Speaker 1: separate tariff on steel and aluminum. Here's Trump and.

43
00:02:19,200 --> 00:02:22,400
Speaker 2: To help these auto makers bringing their factories home as

44
00:02:22,480 --> 00:02:25,560
Speaker 2: rapidly as possible. I've just signed an executive order to

45
00:02:25,600 --> 00:02:30,040
Speaker 2: give partial tariff freebates to any company that assembles its

46
00:02:30,080 --> 00:02:32,720
Speaker 2: cars right here in the use. In other words, what

47
00:02:32,840 --> 00:02:36,600
Speaker 2: other words, if they can't make it in time because

48
00:02:36,639 --> 00:02:38,919
Speaker 2: they have to do it here otherwise have I'm giving

49
00:02:38,919 --> 00:02:39,640
Speaker 2: them a little bit.

50
00:02:39,520 --> 00:02:42,640
Speaker 1: Of a break, President Trump speaking earlier. We move next

51
00:02:42,680 --> 00:02:45,359
Speaker 1: to business news. Plenty of earnings news after the Bell,

52
00:02:45,520 --> 00:02:51,000
Speaker 1: super Micro Computer reporting preliminary adjusted EPs well below expectations.

53
00:02:51,240 --> 00:02:53,639
Speaker 1: The stock was down by more than sixteen percent in

54
00:02:53,680 --> 00:02:56,679
Speaker 1: the late US trading. We also heard from Snap Inc.

55
00:02:57,000 --> 00:03:01,440
Speaker 1: The company narrowly beat analyst testaments for first core revenue. However,

56
00:03:01,880 --> 00:03:05,280
Speaker 1: company also issued a sales forecast for the current period

57
00:03:05,280 --> 00:03:08,760
Speaker 1: that was a bit disappointing. More from Bloomberg's Charlie Pellett.

58
00:03:09,040 --> 00:03:13,720
Speaker 3: Snapp says it's navigating macroeconomic headwinds for its advertising business.

59
00:03:14,080 --> 00:03:16,920
Speaker 3: In a statement, the social media company said, while sales

60
00:03:17,040 --> 00:03:21,320
Speaker 3: continue to grow in the second quarter, economic volatility may

61
00:03:21,400 --> 00:03:25,640
Speaker 3: impact advertising demand more broadly, contributing to its decision to

62
00:03:25,720 --> 00:03:29,760
Speaker 3: withhold sales projections revenue for the quarter ending March thirty

63
00:03:29,800 --> 00:03:32,960
Speaker 3: first was one point three to six billion, slightly above

64
00:03:33,000 --> 00:03:36,320
Speaker 3: the one point three five billion dollar average analyst estimate

65
00:03:36,400 --> 00:03:40,240
Speaker 3: compiled by Bloomberg in New York Charlie Pellett Bloomberg Radio.

66
00:03:41,080 --> 00:03:44,040
Speaker 1: We got to Starbucks next, the company saying tonight quarterly

67
00:03:44,120 --> 00:03:47,840
Speaker 1: sales fell slightly faster than expected. Same store sales were

68
00:03:47,880 --> 00:03:52,120
Speaker 1: down one percent. Earnings per share also missed expectations. We

69
00:03:52,200 --> 00:03:56,600
Speaker 1: got reaction from Michael Halen, Bloomberg Intelligence senior restaurant analyst.

70
00:03:57,040 --> 00:03:59,000
Speaker 5: Now, we were kind of hoping they'd be a little

71
00:03:59,000 --> 00:04:02,120
Speaker 5: bit further along here in the United States, US seams.

72
00:04:02,120 --> 00:04:06,280
Speaker 5: Star sales definitely disappointed in the corner quarter. You know,

73
00:04:06,360 --> 00:04:09,680
Speaker 5: in their defense, it was the coldest January on record.

74
00:04:11,000 --> 00:04:14,360
Speaker 5: I'm sure there were store closures due to the snow

75
00:04:14,400 --> 00:04:18,080
Speaker 5: in February, and I probably saw some sort of recovery

76
00:04:18,080 --> 00:04:21,960
Speaker 5: in March. But yeah, USC Star sales came in a

77
00:04:21,960 --> 00:04:22,760
Speaker 5: little bit weaker.

78
00:04:22,880 --> 00:04:26,480
Speaker 1: Michael Halen there of Bloomberg Intelligence, shares and Starbucks were

79
00:04:26,520 --> 00:04:30,120
Speaker 1: down four percent in late US trading. Meta CEO Mark

80
00:04:30,200 --> 00:04:35,039
Speaker 1: Zuckerberg addressed AI developers at the company's Lama con. Lama

81
00:04:35,240 --> 00:04:38,760
Speaker 1: is Meta's large model technology. It serves as the backbone

82
00:04:38,839 --> 00:04:43,560
Speaker 1: for the company's new standalone artificial intelligence app, Meta AI,

83
00:04:44,000 --> 00:04:46,839
Speaker 1: and Zuckerberg said he is aiming for AI to handle

84
00:04:47,040 --> 00:04:49,680
Speaker 1: fifty percent of Lama's development within a year.

85
00:04:50,040 --> 00:04:53,279
Speaker 6: Here, Zuckerberg, the big one that we're focused on is

86
00:04:54,320 --> 00:04:58,600
Speaker 6: building an AI and a machine learning engineer to advance

87
00:04:58,640 --> 00:05:01,560
Speaker 6: the LAMA development itself, right, because I mean, our bet

88
00:05:01,680 --> 00:05:06,280
Speaker 6: is sort of that in the next year, probably you know,

89
00:05:06,760 --> 00:05:09,359
Speaker 6: I don't know, maybe half the development is going to

90
00:05:09,360 --> 00:05:12,400
Speaker 6: be done by AI as opposed to people, and then

91
00:05:12,440 --> 00:05:14,400
Speaker 6: that will just kind of increase from there.

92
00:05:14,760 --> 00:05:18,120
Speaker 1: That was Meta CEO Mark Zuckerberg speaking at LOMA Con

93
00:05:18,240 --> 00:05:21,039
Speaker 1: twenty twenty five. And that is news when you want

94
00:05:21,040 --> 00:05:23,520
Speaker 1: it with Bloomberg News. Now, I'm Doug Prisner, and this

95
00:05:23,680 --> 00:05:24,240
Speaker 1: is Bloomberg