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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning.

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Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 1: stories we're following today.

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Speaker 3: Karen, we begin with breaking news in Paris, hours ahead

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Speaker 3: of the opening ceremony of the twenty twenty four Olympic Games.

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Speaker 3: Major train delays across France, including the International Eurostar, due

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Speaker 3: to what's being called a coordinated act of sabotage. Authorities

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Speaker 3: say it is aimed at paralyzing France's rail network. The

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Speaker 3: French Transport Minister says the quote coordinated malicious acts targeted

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Speaker 3: several TGV lines. Bloomberg Paris Bureau chief Allan Katz says

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Speaker 3: the perpetrators are unknown at the moment.

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Speaker 4: These were physical acts. People have talked about fires on

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Speaker 4: the tracks in local media. The Transport minister who discussed

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Speaker 4: I talked about firefighters being on site out of these locations,

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Speaker 4: so it appears to be physical.

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Speaker 3: Bloomberg's Allenkatz says. Authorities are also worried that non traditional

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Speaker 3: targets may be in hackers sites. Stay with Bloomberg Radio.

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Speaker 3: We will continue to provide updates on this developing story

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Speaker 3: throughout the day.

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Speaker 1: And Nathan We have breaking news in politics this morning.

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Speaker 1: Former President and First Lady Barack and Michelle Obama have

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Speaker 1: offered their full support to Kamala Harris in the twenty

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Speaker 1: twenty four presidential race and a phone call release this morning.

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Speaker 1: This is going to be historic.

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Speaker 5: We call to say, Michelle and I couldn't be prouder

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Speaker 5: to endorse you and to do everything we can to

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Speaker 5: get you through this election and into the old loss.

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Speaker 6: Oh my goodness, Michelle Bractice means so.

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Speaker 1: Much, the trio speaking a phone call and a newly

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Speaker 1: released video. The official nomination will be made at the

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Speaker 1: party's convention next month.

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Speaker 6: Well.

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Speaker 3: Meanwhile, Karen Vice President Harris is taking a firm stance

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Speaker 3: when it comes to the war between Israel and Hamas.

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Speaker 3: After meeting with Israel's Prime Minister Benjamin Netan, Yahoo, Harris

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Speaker 3: said she pressed the Israeli leader to get a ceasefire

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Speaker 3: deal done. Bloomberg's Ed has that story.

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Speaker 7: Haarra says she made very clear her serious concern about

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Speaker 7: the dire humanitarian crisis in Gaza.

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Speaker 6: We cannot look away in the face of these tragedies.

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Speaker 6: We cannot allow ourselves to become numb to the suffering

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Speaker 6: and I.

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Speaker 7: Will not be silent having said that. I've said it.

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Speaker 6: Many times, but it bears repeating. Israel has a right

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Speaker 6: to defend itself and how it.

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Speaker 7: Does so matters. Haarra says what has happened in Gaza

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Speaker 7: in the past nine months is devastating. Ed Baxter Bloomberg.

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Speaker 1: Radio, all right and thank you all. President Biden also

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Speaker 1: met with Israel's Prime minister, as leaders say they're in

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Speaker 1: the final stages of closing a deal to pause the

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Speaker 1: fighting and release hostages, and Bloomberg's Amy Morris has the

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Speaker 1: details from Washington.

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Speaker 8: Family members of more than one hundred Israeli hostages being

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Speaker 8: held by Hamas met with Biden and Natanyahu at the

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Speaker 8: White House. Jonathan Dekelchen, whose American son is being held,

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Speaker 8: said they came away from the meeting with a sense

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Speaker 8: of optimism.

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Speaker 9: There is more reason today than in any time since

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Speaker 9: the last round of hostage releases that there is a

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Speaker 9: place now to complete this three phase deal.

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Speaker 8: White House officials say those negotiations are now in the

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Speaker 8: closing stages, but there are still some issues that need

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Speaker 8: to be resolved. In Washington. Amy Morris Bloomberg Radio.

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Speaker 3: Okay me, thank you and after his time in DC

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Speaker 3: this week. Prime Minister Natanya who heads to Florida today

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Speaker 3: where he'll meet with former President Donald Trump at his

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Speaker 3: home in mar Lago.

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Speaker 10: Now.

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Speaker 3: Trump and Netanyah, who enjoyed a close relationship while the

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Speaker 3: former president was in office, but they split after Nettunyaho

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Speaker 3: recognized President Biden's twenty twenty election victory.

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Speaker 1: And with the election fast approaching, Nathan A presidential debate

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Speaker 1: is still on the schedule for September tenth, but Donald

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Speaker 1: Trump is not committing to it just yet. The Trump

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Speaker 1: campaign said it would be inappropriate to commit until Democrats

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Speaker 1: formally nominate a new candidate. Trump also says he wants

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Speaker 1: an organization other than ABC News to moderate it. Vice

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Speaker 1: President Harris says she's ready to debate and says Trump

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Speaker 1: is backpedaling.

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Speaker 3: Now, let's turn back to the markets, Karen. The Fed's

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Speaker 3: key inflation gauge core PCE comes out at eight thirty

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Speaker 3: this morning. Wall Street time It could spell the path

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Speaker 3: four rate cuts this year. Bloomberg's Michael McKee has a preview.

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Speaker 11: There's a possibility of an upside surprise today. The inflation

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Speaker 11: numbers in yesterday's GDP report were good, with headline and

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Speaker 11: core PCE falling below three percent. Those are quarterly averages. However,

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Speaker 11: today's monthly number for June will matter more to the

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Speaker 11: Fed in terms of the current trajectory for prices. Chairman

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Speaker 11: j Powell has said the central Bank won't wait to

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Speaker 11: cut rates until inflation reaches the two percent target. GDP

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Speaker 11: also suggested upside possibilities for consumers spending. In today's report.

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Speaker 11: For the quarter, spending was up more than expected two

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Speaker 11: point three percent. If much of that strength came in June,

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Speaker 11: it would reassure Fed officials they are not behind the

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Speaker 11: curve on growth. Michael McKee Bloomberg.

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Speaker 1: All right, Mike, thanks, and as traders see signs of

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Speaker 1: a resilient US economy, calls for a July rate cutter growing.

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Speaker 1: Former New York Fed President Bill Dudley tells Bloomberg policy

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Speaker 1: makers should reduce rates next week.

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Speaker 12: The Fed doesn't cut in July and waste of September.

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Speaker 12: It's not going to have a huge effect on the commentstratrector,

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Speaker 12: except the fact that when the unemployerent rates start to deteriorate,

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Speaker 12: it seems to be a reinforcing negative feedback loop. Jobs

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Speaker 12: are lost, people pull back on spending that leads to

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Speaker 12: further cuts in employment.

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Speaker 1: Bill Dudley's comments were echoed by fellow Bloomberg opinion columnist

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Speaker 1: Muhammad Alarian. He says delaying cuts could prove to be

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Speaker 1: a policy mistake, but yesterday's better than expected GDP figure

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Speaker 1: did reinforce bets the Fed likely won't cut until September.

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Speaker 3: Karen wall Street's split has widened as smaller stocks rise

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Speaker 3: and big tech gives back more of its huge gains.

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Speaker 3: More in this report from Bloomberg's John Tucker, John.

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Speaker 13: And Nathan continued weakness for a pocket of big tech stocks,

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Speaker 13: including Nvidia and Microsoft weight on the SMP five five hundred.

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Speaker 13: Yesterday it closed lower by half a percent, The tech

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Speaker 13: heavy Nastak that gave up another nine tenths of a percent,

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Speaker 13: and that rotation of the smaller caps continued, with the

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Speaker 13: Russell two thousand climbing. It's a further signed investors are

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Speaker 13: preparing four interest rate cuts, and Stu Kaizer at City

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Speaker 13: Group Global Markets believes earnings will be key for future performance.

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Speaker 1: Big picture, I think the earnings outlooks looks pretty strong.

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Speaker 1: Twelve month forward EPs, it's a two hundred and sixty bucks,

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Speaker 1: which is a very big number.

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Speaker 11: The challenge is that the expectations around that Earning's outlook

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Speaker 11: are quite high, with.

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Speaker 13: The velocity of this selloff has rattled the investors. It

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Speaker 13: took about twenty trading days in twenty twenty three to

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Speaker 13: produce an eight percent drop of the tech heavy Nastak.

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Speaker 13: Compare that with just ten trading days this time around.

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Speaker 13: John Tucker, Bloomberg Radio, All.

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Speaker 1: Right, John, thank you well. Turning back overseas, Apple is

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Speaker 1: losing ground in China's smartphone market as local companies take

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Speaker 1: a lead. iPhone Shipman slid three point one percent in

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Speaker 1: the June quarter compare but that eleven percent year on

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Speaker 1: year rise among Android powered competitive According to market tracker

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Speaker 1: id C, Apple is now out of the top five

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Speaker 1: handset makers and shine up for the first time in

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Speaker 1: four years.

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Speaker 3: And back here in the US, Karen JP Morgan Chase

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Speaker 3: has launched a new research analyst artificial intelligence chat bot.

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Speaker 3: The bank is telling its employees to use its own

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Speaker 3: version of chat GPT as a writer, idea generator, and

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Speaker 3: problem solver. The new tool, called LM Suite, comes as

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Speaker 3: many expect AI to create major economic gains but also

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Speaker 3: displace a number of jobs, and it's.

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Speaker 1: Time now for a look at some of the o

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Speaker 1: their stories making news in New York and around the world.

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Speaker 1: For that, we're joined by Bloomberg's Michael Barr Michael, good Morning.

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Speaker 14: Good morning, Karen Too. Suspected leaders of one of the

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Speaker 14: most powerful Mexican drug card tells are now in US custody.

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Speaker 14: Official say seventy six year old Ismail Lambarda Garcia, also

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Speaker 14: known as Elmeo, and Joaquin Usman Lopez, son of infamous

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Speaker 14: drug lord l Cheppo. We're arrested after landing in a

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Speaker 14: private plane in El Paso, Texas yesterday. Attorney General Merrick.

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Speaker 5: Gerland fentanyl is the deadliest drug threat our country has

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Speaker 5: ever faced. The Justice Department will not rest until every

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Speaker 5: single cartel leader, member, and associate responsible for poisoning our

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Speaker 5: communities is held accountable.

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Speaker 14: GOP leaders are reacting after the dramatic cartel drug bust,

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Speaker 14: news of the arrests coming at the same time House

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Speaker 14: Speaker Mike Johnson was during the Southern border in California,

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Speaker 14: blaming the administration for the flow of drugs into the US.

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Speaker 13: The election hasn't take place to really fix this and

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Speaker 13: I think the people recognize that, and I think they're

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Speaker 13: going to hold the borders. Are Kamala Harris personally responsible

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Speaker 13: for this and they should?

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Speaker 14: Speaker Johnson says that Vice President Kamala Harris is a

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Speaker 14: San Francisco radical who bears the responsibility or catastrophe at

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Speaker 14: the border. The Senate is closer to passing legislation aimed

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Speaker 14: at keeping children safe on the internet. It cleared a

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Speaker 14: key procedural hurdle Thursday. Final passage could come next week.

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Speaker 14: The Kids Online Safety Act passed eighty six to one

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Speaker 14: in Thursday's test vote. Connecticut Senator Richard Blumenthal has been

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Speaker 14: leading the legislation as one of the original co sponsors.

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Speaker 1: It is really just about empowering young people and parents

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Speaker 1: to take back control over their lives online.

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Speaker 14: Senator Rand Paul was the only Senator to vote against

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Speaker 14: the proceedings. Hollywood's video game performers are going on strike,

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Speaker 14: throwing part of the entertainment industry into another work stoppage.

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Speaker 14: It comes after talks for a new contract with the

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Speaker 14: major game studios broke down over artificial intelligence protections. Global

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Speaker 14: news twenty four hours a day and whenever you want

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Speaker 14: it with Bloomberg News Now, Michael Barr, this is is

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Speaker 14: Bloomberg Kevin.

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Speaker 1: All right, Michael Burr, thank you time now for the

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Speaker 1: Bloomberg Sports Update with John stash Hour.

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Speaker 15: John, Good morning, Good morning, Karen. Things must be going

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Speaker 15: well for the Mets. And a night when they went

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Speaker 15: six straight innings without a base runner, had only three

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Speaker 15: hits in ten innings, they still won three to two

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Speaker 15: over Atlanta. The Mets have now won ten of their

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Speaker 15: last thirteen. They've moved six games over five hundred. If

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Speaker 15: they beat the Braves again tonight at City Field, they'll

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Speaker 15: move into second place in the NL East Francisco. In

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Speaker 15: Doorstay's hot, a two run homer, Jeff McNeil with a

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Speaker 15: game winning single, and the tenth inning a fly ball

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Speaker 15: to the corner and right field that should have been

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Speaker 15: caught by the Braves Ramon Loreano. The Mets bullpen five

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Speaker 15: scoreless and hitless innings. A day game in DC, San

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Speaker 15: Diego's Dylan Seas with a no hitter of the Nationals,

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Speaker 15: just the second no hitter in Padre's history. Sees through

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Speaker 15: one hundred and fourteen pitches, struck out nine, walk three.

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Speaker 15: It was a trip to Boston in June that and

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Speaker 15: this Yankee tail spin. They visit the Red Sox tonight.

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Speaker 15: Yanks are eleven and twenty three in their last thirty

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Speaker 15: four games. Only the White Socks have been worse. Here

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Speaker 15: was Aaron Boone after the most recent loss to the Mets.

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Speaker 16: I'm not going to define stretch this or that. We

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Speaker 16: gotta go win, right and we're we're right there. You

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Speaker 16: know we're watching, you know, other teams struggle around us.

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Speaker 16: We know we gotta be better. Okay, we gotta you know,

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Speaker 16: we're pissed off in there. We got a lot of

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Speaker 16: pride in there. We have a lot of expectation in there.

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Speaker 15: Yanks now two games behind the Orioles. Baltimore had to

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Speaker 15: walk off winning Miami. The trade deadline is next Tuesday.

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Speaker 15: Tampa Bay just dealt outfielder Randia Rose Arena to Seattle

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Speaker 15: in Paris today and Olympic opening ceremonies unlike one anyone

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Speaker 15: has seen before. They're not using the stadium. The athletes

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Speaker 15: will be parading while traveling on dozens of boats three

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Speaker 15: point seven miles along the Center River. The procession should

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Speaker 15: take about four hours. Wind up near the Eiffel Tower

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Speaker 15: three hundred thousand people expected to attend. John stashle that

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Speaker 15: we're Bloomberg Sports Karen.

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Speaker 10: Nathan Coast to coast on Bloomberg Radio, nationwide on Syrius XM,

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Speaker 10: and around the world on Bloomberg dot Com and the

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Speaker 10: Bloomberg Business app.

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Speaker 3: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. The

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Speaker 3: opening ceremonies of the twenty twenty four Paris Summer Olympic

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Speaker 3: Games are just hours away. But this morning a massive

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Speaker 3: act of sabotage across the French rail network is threatening

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Speaker 3: to spoil the party joining us from Paris this morning.

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Speaker 3: Is Bloomberg's Caroline Conna. Caroline, good morning. What is the latest?

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Speaker 3: What has been happening on the rail line.

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Speaker 17: So you know, the SMSLF is a national fast trained

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Speaker 17: TGV trainagework, so they won this morning with a massive

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Speaker 17: attack overnight on three of the main TGV lines going

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Speaker 17: towards the west of Fanti Atlantic Coast, the north of

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Speaker 17: France towards London and the Eurosaw and the east of

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Speaker 17: going towards Belgium and Journey. Those TGV lines have been

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Speaker 17: affected by what they call coordinated sabotage, with some fires

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Speaker 17: on some of the rails. As a results, as many

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Speaker 17: as eight hundred thousand people are being trended, and in

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Speaker 17: fact some of these ruptions could last all weekends, so

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Speaker 17: it is possible that many people coming from those regions

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Speaker 17: would actually not be able to make it tonight for

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Speaker 17: the opening ceremony of the Games. The smt of President

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Speaker 17: saying this morning it's attacking a part of font the

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Speaker 17: uralsar as I mentioned to London and would also be

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Speaker 17: partly impacted. I was talking to various CEOs this morning

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Speaker 17: here in Paris, including a court dan On. They were

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Speaker 17: both saying that it is very sad to see that

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Speaker 17: some people are trying to take the Olympics hostage, but

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Speaker 17: they are still hoping that it will not ruin the

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Speaker 17: party tonight.

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Speaker 3: Do we have any idea point who these people are

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Speaker 3: who may be behind this attack and what their motivation

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Speaker 3: might be.

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Speaker 17: It is actually very hard to tell at the moment

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Speaker 17: because there's an investigation going on. But what we know

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Speaker 17: is that from Lutigia newspaper, one of the pension newspapers

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Speaker 17: the time for example, it could come from Ultas Gush,

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Speaker 17: which is very far left activists in France who are

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Speaker 17: complaining about the presence of the games, the fact that

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Speaker 17: the French authorities have accepted hosting the games, and they

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Speaker 17: were already warning before the games about trying to disrupt

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Speaker 17: some people to avoid making Paris what they call a

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Speaker 17: tourist attraction. We also know that the southeast of front,

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Speaker 17: going towards the French Riviera, the line was also targeted,

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Speaker 17: but the senc of agents have managed to actually prevent

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Speaker 17: the fire and prevent those activists from such The rails

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Speaker 17: through this line at the moment is not affected. But

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Speaker 17: obviously we should know more when the investigation is taking pace.

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Speaker 3: Just quickly, Caroline, we already know security is very tight

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Speaker 3: in Paris. Does this point to vulnerabilities and potentially further

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Speaker 3: complications as the games get underway?

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Speaker 17: I mean, obviously a lot has been put in place

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Speaker 17: by the entire ministry. As many as sixty five thousand

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Speaker 17: security forces are being deployed during the game, forty five

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Speaker 17: thousand just to night for the opening ceremony in Paris.

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Speaker 17: You're going to have some police divers in the sent

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Speaker 17: for example, checking all the boats, where as many as

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Speaker 17: six thousand assets are going to sail down the river

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Speaker 17: during this Olympic ceremony. So obviously, you know, it's obviously

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Speaker 17: very hard to avoid everything, but a lot has been

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Speaker 17: put in place. There's a lot of restrictions going to

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Speaker 17: the center of either a ticket being accredited, they're done.

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Speaker 17: Some scan checks in fact prevented thousands of people from

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Speaker 17: having some accutitation of from being able to access certain

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Speaker 17: zones of Paris. But obviously some of these actions can

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Speaker 17: always happen despite that very high security measures that I've

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Speaker 17: been put in tay.

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