1
00:00:01,320 --> 00:00:03,480
Speaker 1: News when you want it. With Bloomberg News Now, I'm

2
00:00:03,480 --> 00:00:07,680
Speaker 1: Doug Chrisner. Brian Koberger has reportedly agreed to plead guilty

3
00:00:07,720 --> 00:00:11,200
Speaker 1: to killing four University of Idaho students to avoid the

4
00:00:11,240 --> 00:00:15,440
Speaker 1: death penalty. This is according to multiple media outlets. These

5
00:00:15,520 --> 00:00:19,520
Speaker 1: killings occurred back in November twenty twenty two. Autopsy showed

6
00:00:19,560 --> 00:00:22,880
Speaker 1: the four were all likely asleep when the attacks occurred,

7
00:00:23,280 --> 00:00:28,040
Speaker 1: some had defensive wounds, and each stabbed multiple times. We

8
00:00:28,160 --> 00:00:30,639
Speaker 1: go next to Capitol Hill, where GOP leaders in the

9
00:00:30,680 --> 00:00:34,960
Speaker 1: Senate are rushing to overcome internal fights over President Trump's

10
00:00:35,000 --> 00:00:38,879
Speaker 1: tax and spending package. Majority leader John Thune needs to

11
00:00:38,920 --> 00:00:42,920
Speaker 1: win over at least five of eight GOP holdouts. Here

12
00:00:43,120 --> 00:00:47,520
Speaker 1: is Virginia Democratic Senator Mark Warner, speaking earlier to Bloomberg's

13
00:00:47,560 --> 00:00:48,440
Speaker 1: balance of power.

14
00:00:48,720 --> 00:00:52,800
Speaker 2: I feel like there is this pull and push and

15
00:00:52,880 --> 00:00:55,560
Speaker 2: pull here, and at the same time Leader thun has

16
00:00:55,600 --> 00:00:58,200
Speaker 2: got to try to get a product that could actually

17
00:00:58,320 --> 00:01:01,080
Speaker 2: still then pass the House. This is what happens. I

18
00:01:01,120 --> 00:01:02,960
Speaker 2: wish they would have taken a little more time. At

19
00:01:03,000 --> 00:01:04,560
Speaker 2: the end of the day, the fact they asked for

20
00:01:04,600 --> 00:01:07,280
Speaker 2: no Democratic input, I'd probably still be against it.

21
00:01:07,360 --> 00:01:11,200
Speaker 1: That is Virginia Senator Mark Warner, speaking earlier to Bloomberg's

22
00:01:11,240 --> 00:01:14,920
Speaker 1: balance of power in so far as Senate Majority Leader

23
00:01:15,000 --> 00:01:18,319
Speaker 1: Thune is concerned, he says, the bill needs to get

24
00:01:18,360 --> 00:01:19,240
Speaker 1: done in time.

25
00:01:19,880 --> 00:01:20,920
Speaker 2: This is good for America.

26
00:01:21,040 --> 00:01:22,560
Speaker 3: This is good for the American people, it's good for

27
00:01:22,600 --> 00:01:24,520
Speaker 3: working families, and.

28
00:01:24,920 --> 00:01:26,000
Speaker 1: It's been a long debate.

29
00:01:26,280 --> 00:01:28,400
Speaker 4: I know people are weary, but at the end of

30
00:01:28,440 --> 00:01:30,600
Speaker 4: the day, we want to get this done.

31
00:01:30,640 --> 00:01:34,399
Speaker 1: That is Senate Majority Leader John Thune. Staying in Washington,

32
00:01:34,440 --> 00:01:37,840
Speaker 1: White House Economic Advisor Kevin hasse It says the administration

33
00:01:38,080 --> 00:01:42,240
Speaker 1: is preparing to finalize trade agreement shortly after the July

34
00:01:42,400 --> 00:01:46,720
Speaker 1: fourth holiday. Speaking earlier on CNBC, has had said several

35
00:01:46,760 --> 00:01:50,120
Speaker 1: deals are nearing completion and they will be reviewed by

36
00:01:50,160 --> 00:01:51,400
Speaker 1: President Trump this week.

37
00:01:51,840 --> 00:01:53,960
Speaker 4: I think that we've got a whole number of deals,

38
00:01:54,840 --> 00:01:57,480
Speaker 4: double digit deals that we've got frameworks, just like we

39
00:01:57,520 --> 00:01:59,600
Speaker 4: have for the UK, that are just about agree to.

40
00:02:00,040 --> 00:02:01,920
Speaker 4: As soon as the tax bill has passed, I think

41
00:02:01,960 --> 00:02:04,240
Speaker 4: that there's going to be a marathon sashit at the Oval,

42
00:02:04,280 --> 00:02:05,760
Speaker 4: where we'll go through them one by one of the

43
00:02:05,800 --> 00:02:08,639
Speaker 4: President and we'll make the final call, set the tariff rates,

44
00:02:08,800 --> 00:02:11,320
Speaker 4: and show the world all the work that Howard jameson

45
00:02:11,360 --> 00:02:12,400
Speaker 4: career has got bested to.

46
00:02:12,360 --> 00:02:15,280
Speaker 1: Do it any c director Kevin Hasset there. Speaking earlier

47
00:02:15,320 --> 00:02:17,760
Speaker 1: to CNBC, He went on to say the US Trade

48
00:02:17,800 --> 00:02:22,320
Speaker 1: team is aiming for deals before the July ninth tariff tedline.

49
00:02:22,480 --> 00:02:26,280
Speaker 1: Hassett's comments came just hours after President Trump threatened new

50
00:02:26,320 --> 00:02:30,560
Speaker 1: tariffs on Japan over rice exports. Hassett did say the

51
00:02:30,639 --> 00:02:35,079
Speaker 1: talks with Tokyo are ongoing despite the president's rhetoric. Meantime,

52
00:02:35,360 --> 00:02:38,360
Speaker 1: White House Press Secretary Caroline Levitt said the US is

53
00:02:38,400 --> 00:02:43,120
Speaker 1: currently finalizing a trade agreement with India. Bloomberg has learned

54
00:02:43,120 --> 00:02:45,880
Speaker 1: that Apple is in talks with both Open Ai and

55
00:02:46,040 --> 00:02:49,400
Speaker 1: Anthropic to power a new version of Siri. Now. This

56
00:02:49,520 --> 00:02:53,920
Speaker 1: move suggests that Apple could potentially abandon its own AI models.

57
00:02:54,120 --> 00:02:55,520
Speaker 1: Here is Bloomberg's Mark German.

58
00:02:55,680 --> 00:02:58,000
Speaker 5: Apple has tried to do something similar, build those models

59
00:02:58,000 --> 00:03:00,760
Speaker 5: in house and own the core tech on the touch screen,

60
00:03:00,919 --> 00:03:02,440
Speaker 5: like they own some of the camera tech, like they

61
00:03:02,440 --> 00:03:05,120
Speaker 5: own with their processors and all their products. Now, but

62
00:03:05,280 --> 00:03:07,440
Speaker 5: what are you supposed to do If it's not very good?

63
00:03:07,520 --> 00:03:09,520
Speaker 5: You have to find an alternative. You have to go

64
00:03:09,600 --> 00:03:10,880
Speaker 5: outside and use.

65
00:03:10,760 --> 00:03:14,320
Speaker 1: A partner that is Bloomberg's Mark German reporting now. Representatives

66
00:03:14,320 --> 00:03:19,079
Speaker 1: for Apple, Andthropic and OpenAI all declined to comment. Shares

67
00:03:19,080 --> 00:03:21,280
Speaker 1: an Apple we're up two percent in New York trading.

68
00:03:21,639 --> 00:03:24,320
Speaker 1: The stock market closed at record highs on the final

69
00:03:24,400 --> 00:03:27,360
Speaker 1: day of the second quarter, and the S ANDP is

70
00:03:27,480 --> 00:03:30,720
Speaker 1: now up roughly twenty five percent from its April lows,

71
00:03:30,800 --> 00:03:35,280
Speaker 1: giving the benchmark its best quarters since December twenty twenty three.

72
00:03:35,600 --> 00:03:38,680
Speaker 1: Today the SMP broke above sixty two hundred, with tech

73
00:03:38,720 --> 00:03:42,280
Speaker 1: shares leading the charge. Sam Stovall is the chief investment

74
00:03:42,280 --> 00:03:44,520
Speaker 1: strategist at CFR Research.

75
00:03:44,840 --> 00:03:47,560
Speaker 3: Right now, the S and P five hundred is trading

76
00:03:47,920 --> 00:03:53,600
Speaker 3: at two standard deviations above it's twenty year mean. It's

77
00:03:53,680 --> 00:03:56,840
Speaker 3: more than one standard deviation above the ten year means.

78
00:03:56,920 --> 00:04:00,480
Speaker 1: That is Sam Stovall from CFR speaking early. You're on

79
00:04:00,680 --> 00:04:04,000
Speaker 1: the Bloomberg Business Week daily radio program. By the way,

80
00:04:04,080 --> 00:04:05,920
Speaker 1: much of the market's gains have been tied to the

81
00:04:05,960 --> 00:04:08,280
Speaker 1: hope that the Fed will be resuming rate cuts, and

82
00:04:08,360 --> 00:04:12,360
Speaker 1: today Goldman Sachs projected a cut in September as the

83
00:04:12,360 --> 00:04:16,320
Speaker 1: inflationary effects of tariffs look a bit smaller than expected.

84
00:04:16,880 --> 00:04:19,240
Speaker 1: And that is news when you want it. With Bloomberg News.

85
00:04:19,279 --> 00:04:21,640
Speaker 1: Now I'm deg prisoner, and this is Bloomberg