Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 1: stories we're following today.
Speaker 2: We begin with politics.
Speaker 3: Primary elections were held last night in Arizona, Florida, Illinois, Kansas,
Speaker 3: and Ohio, and former President Donald Trump won all five
Speaker 3: Republican primaries with seventy five to eighty one percent support.
Speaker 3: President Biden did the same on the Democratic side, except
Speaker 3: in Florida, which canceled its primary. He won with eighty
Speaker 3: three to ninety one percent of the vote. Kansas was
Speaker 3: the only state with a none of the above option
Speaker 3: on the Democratic ballot that took ten percent.
Speaker 1: Well as for the down ballot races, Nathan, it was
Speaker 1: a good night for Trump back candidates. In Ohio, businessman
Speaker 1: Bernie Moreno defeated two other Republicans with fifty percent of
Speaker 1: the vote to take on Democratic incumbent Sharon Brown for
Speaker 1: US Senate.
Speaker 3: I want to President Trump for all he did for me,
Speaker 3: for this campaign, for his unwavering support, for his love
Speaker 3: of this country.
Speaker 1: Several other Republicans advanced with the former president support. Derek
Speaker 1: Merin will take on Democratic Congresswoman Marcy Captor in Ohio
Speaker 1: this November, he won the GOP primary with fifty two
Speaker 1: percent of the vote. In Illinois, Mike bost is leading
Speaker 1: Darren Bailey fifty two percent to forty eight percent. The
Speaker 1: Associated Press is not called the race, but Bailey has conceded.
Speaker 1: And in California, Trump backed Republican Vince Fong advanced to
Speaker 1: a runoff with forty two percent of the vote to
Speaker 1: fill the seat left open by former House Speaker Kevin McCarthy.
Speaker 1: He'll face fellow Republican Mike Boudreau, who won twenty four
Speaker 1: percent in the May twenty first special election.
Speaker 2: Thank Karen.
Speaker 3: There are new developments this morning regarding that migrant arrest
Speaker 3: law in Texas.
Speaker 2: It is back on hold.
Speaker 3: Just hours after the law briefly took effect, a federal
Speaker 3: appeals court prevented Texas from arresting and deporting migrants who
Speaker 3: accused of entering the US illegally. The three judge panel
Speaker 3: acted after the Supreme Court returned the matter to the
Speaker 3: New Orleans based Fifth US Circuit with instructions to quickly
Speaker 3: resolve open questions in the case.
Speaker 1: Now, Nathan to the latest on the war in the
Speaker 1: Middle East. Israeli Prime Minister Benjamin Netanya, who will speak
Speaker 1: with Senate Republicans later today, and we get this story
Speaker 1: from Bloomberg Steve Potisk in Washington.
Speaker 4: The call will be via video and comes a week
Speaker 4: after the Chambers top Democrat, Chuck Schumer, called for elections
Speaker 4: to replace him. Schumer, an ally of Israel and Congress
Speaker 4: for decades, had urged Netting Yahoo's government to do more
Speaker 4: to avoid civilian casualties and allow a to flow more
Speaker 4: freely to Gaza residents. Senate Republican Conference Chairman John Barrasso
Speaker 4: invited Netting Yahoo to speak today. Barrasso, along with other Republicans,
Speaker 4: have condemned Schumer's remarks in Washington. Steve Potisk Bloomberg Radio.
Speaker 2: All right, Steve, thank you.
Speaker 3: Another geopolitical news, the Biden administration is said to be
Speaker 3: considering sanctions for Huawei's secretive chip network. Bloomberg's Brian Curtis
Speaker 3: has more. From Hong Kong.
Speaker 5: Sources say the US could blacklist Chinese semiconductor firms. This
Speaker 5: comes after Huawei not a significant technological breakthrough last year. Now,
Speaker 5: such a move would mark another escalation in a US
Speaker 5: campaign to ring fence China's AI and semiconductor ambitions. Source
Speaker 5: to say most of the Chinese entities affected were previously
Speaker 5: identified as chip making facilities. These are facilities built by Huawei.
Speaker 5: No final decisions have yet been made in Hong Kong.
Speaker 5: Brian Curtis, Bloomberg.
Speaker 1: Radio, All right, Brian, thanks well, Futures are mostly lower
Speaker 1: this morning, a day after the S and P five
Speaker 1: hundred closed at an all time high. Today's attention turns
Speaker 1: to the Fed. Well, there might not be much anticipation
Speaker 1: on the decision. No rate cut expected. There is a
Speaker 1: lot of interest in what Jay Powell and companies say
Speaker 1: about the future of monetary policy, and we get a
Speaker 1: preview from Bloomberg's Michael McKee.
Speaker 6: It's not about rates this time. The first thing investors
Speaker 6: will look at is the dot plot sticky inflation readings
Speaker 6: the past two months of spawned predictions. The median will
Speaker 6: indicate fewer rate cuts this year, to just two from
Speaker 6: three forecasts last December. Second on the watch list the
Speaker 6: Summary of Economic Projections, the economic forecasts of the nineteen
Speaker 6: members of the Fed's Rate Setting Committee. Those inflation readings
Speaker 6: have endless anticipating Fed officials will revise their twenty twenty
Speaker 6: four rate projections higher. There are also questions about whether
Speaker 6: the year end forecast unemployment rate will move higher as well.
Speaker 6: And finally, bond investors in particular will want to know
Speaker 6: what officials discussed about future plans for running down the
Speaker 6: Fed's balance sheet. Was a decision made to taper the runoff?
Speaker 6: Michael McKee, Bloomberg Radio.
Speaker 3: Okay, Mike thanks. The economy is also in focus in Europe.
Speaker 3: UK inflation fell more sharply than expected. In fact, it
Speaker 3: cooled to the lowest level in two and a half years.
Speaker 3: The consumer price index rose three point four percent in
Speaker 3: February from a year earlier. That's slower than the four
Speaker 3: percent pace the month before. Economists say the data keep
Speaker 3: the Bank of England on track to reduce interest rates
Speaker 3: later this year.
Speaker 1: In company news this by Morning, Nathan shares of JP
Speaker 1: Morgan Chase are little change in early training. It is
Speaker 1: boosting its dividend by nine and a half percent. We
Speaker 1: get this story from a Bloomberg's Charlie Pellett.
Speaker 7: The New York based bank lifted its dividend to a
Speaker 7: dollar fifteen a share after reporting a record profit last year.
Speaker 7: The unexpected increase marks the second time in the past
Speaker 7: twelve months, the JP Morgan Chase has boosted its quarterly payout.
Speaker 7: JP Morgan Chase generated about fifty billion dollars of net
Speaker 7: income in twenty twenty three and had raised the payout
Speaker 7: by five percent to a dollar five a share for
Speaker 7: the third quarter. So far this year, JP Morgan Chase
Speaker 7: shares are up thirteen point nine percent at next reports
Speaker 7: earnings April twelfth in New York. Charlie Pellett, Bloomberg Radio,
Speaker 7: all right, Charlie, thank you. It's a very big day
Speaker 7: on the IPO market. Bloomberg News has learned a Stereo
Speaker 7: Labs is said to raise about seven hundred and thirteen
Speaker 7: million dollars, tapping demand for investors related to artificial intelligence.
Speaker 7: Sources say Astera and the current stockholder are selling almost
Speaker 7: twenty million shares for thirty six dollars each. Jay Woods
Speaker 7: is chief Global Strategistic Freedom Capital Markets and Stara is.
Speaker 2: An AI plane. What's hotter than AI? Right now?
Speaker 8: That to me, you could see a little euphoria and
Speaker 8: you could see that thirty percent pop. It's not where
Speaker 8: it opens and how it trades after the opening and
Speaker 8: then the subsequent a few days, Let's see how they
Speaker 8: do a week two weeks later.
Speaker 3: Jay Woods of Freedom Capital says the starebackers include Intel,
Speaker 3: along with Sutter Hill Ventures and Nathan.
Speaker 1: Another highly anticipated ipo prices tonight. We're talking about Reddit,
Speaker 1: and we get more from Bloomberg's Bailey Lipschaltz.
Speaker 9: Social media platforms first time share sale will price later
Speaker 9: this evening before debuting on Thursday. Expectations are for it
Speaker 9: to be valued around six billion dollars.
Speaker 2: That's a sharp drop off from the.
Speaker 9: Ten billion dollars where it was valued in a private
Speaker 9: round back in twenty twenty one. Analysts and investors are
Speaker 9: keen to see how it does after selling shares to
Speaker 9: loyal users, which could draw some flack. Those moderate and
Speaker 9: people with so called high karma scores are able to
Speaker 9: buy into the ipo, so it'll be interesting to see
Speaker 9: how Reddit performs in trades in the wake of a
Speaker 9: dearth of technology IPOs after arm back at the end
Speaker 9: of last year.
Speaker 1: And that's Bloomberg's Bailey Lipshaltz, who says redd It will
Speaker 1: trade under the ticker RDDT. And it's time now for
Speaker 1: a look at some of the other stories and making
Speaker 1: news in New York and around the world. For that.
Speaker 1: We're joined by Bloomberg's Michael Barr, Michael good Morning, Good.
Speaker 10: Morning Care and New York Mayor Eric Adams again denied
Speaker 10: allegations in a lawsuit accusing him of sexually assaulting a
Speaker 10: former colleague in nineteen ninety three. Adams says it did
Speaker 10: not happen. The woman first filed a notice of claim
Speaker 10: in November under the Adult Survivors Act. It is a
Speaker 10: state law that suspends for a year the usual time
Speaker 10: limit to sue over an alleged sexual assault. Adams once
Speaker 10: again denied the allegation yesterday during a news conference.
Speaker 11: I don't recall a meeting in person, and that is
Speaker 11: not who I am as a person.
Speaker 10: In the lawsuit, the accuser says she was seeking a
Speaker 10: promotion in the New York Transit Police Department and asked
Speaker 10: Adams for help. Adams, then a police officer and member
Speaker 10: of the Guardians Association, is alleged in the lawsuit to
Speaker 10: have driven the woman to a vacant lot and demanded
Speaker 10: sexual acts. A US district judge sentenced two of six
Speaker 10: Mississippi law enforcement officials for the racist torture of two
Speaker 10: black men. Former deputy Hunter Elward received more than seventeen years,
Speaker 10: and Lieutenant Jeffrey Middleton got twenty years. They were among
Speaker 10: the six who gave themselves the name the Goon Squad
Speaker 10: because they did not follow the rules and often subjected
Speaker 10: the people they deemed suspects to humiliating torture. Last year,
Speaker 10: the Goon Squad burst into the home of a white
Speaker 10: woman without a warrant after a white neighbor reported several
Speaker 10: black males were staying in the home. Victims, Michael Jenkson,
Speaker 10: who was shot in the mouth, and any park brought
Speaker 10: a lawsuit, which led to an investigation that put a
Speaker 10: stop to the violence. Parker spoke after the sentencing, you know,
Speaker 10: it's given him what it's done. I forgive that part
Speaker 10: he still did, you know what I'm saying, what he
Speaker 10: did and he has to be punished with it. Four
Speaker 10: more deputies will be sentenced today and tomorrow. Donald Trump
Speaker 10: is suggesting that he'd support a national ban on abortions
Speaker 10: around fifteen weeks of pregnancy, voicing for the first time
Speaker 10: support for a specific limit on the procedure. The former president,
Speaker 10: in a radio interview yesterday, says people are agreeing on
Speaker 10: fifteen and I'm thinking in terms of that hor mortal
Speaker 10: contraceptives can now be dispensed by New York pharmacists without
Speaker 10: a prescription. Those participating pharmacies can provide up to a
Speaker 10: twelve month supply of the medication. Meanwhile, it said that
Speaker 10: the Governor is trying to make it a way for
Speaker 10: New York and healthcare sanctuaries for women as.
Speaker 2: Long as I'm governor, their rights are protected.
Speaker 1: That this is deeply personal to me as a mother
Speaker 1: and a woman in this state.
Speaker 10: New York Governor Kathy Hokel Global News twenty four hours
Speaker 10: a day, whenever you want it with Bloomberg News. Now,
Speaker 10: I'm Michael barrb this is Bloomberg Karen.
Speaker 1: All right, Michael Barr, thank you, but his time now
Speaker 1: for the Bloomberg Sports Update, brought to you by Tri
Speaker 1: State Outie, and we bring in John Stashaur.
Speaker 2: John, Good morning, Give morning, Karen.
Speaker 12: The Jets started slowly in free agency, but after recently
Speaker 12: adding veteran jackal Tyron Smith of Dallas State signed longtime
Speaker 12: LA charger whiteout Mike Williams, seventh pick of the twenty
Speaker 12: seventeen draft. He's had injuries, including the torn acl this
Speaker 12: past season, but went healthy. Williams has had a couple
Speaker 12: of recent thousand yard seasons. Tackle Trent Brown signed with Cincinnati.
Speaker 12: He'd been with New England. Sixty seven NCAA Tournament games,
Speaker 12: the first team to advance Little Wagner College out of
Speaker 12: Staten Island. It's the first NCAA win school history, only
Speaker 12: the second game the Seahawks have played at the first
Speaker 12: four and date in a seventy one sixty eight win
Speaker 12: over Howard. Wagner only has seven scholarship players. The coach
Speaker 12: is Donald Copeland.
Speaker 11: Having seven players, you know, I would imagine some places
Speaker 11: they might just come in the gym and just say, listen,
Speaker 11: we got seven. We just got to go through the motions.
Speaker 2: We never did that.
Speaker 11: We prepare the right way, we expected to win even
Speaker 11: when we did lose, and then now to fight and
Speaker 11: in NEC tournament. The way we did it speaks volume,
Speaker 11: I think to the culture. I think it speaks to
Speaker 11: the kids I have.
Speaker 12: And it'll be a tad tougher for Wagner tomorrow and
Speaker 12: Charlotte against North Carolina, top seeds in the West. Also
Speaker 12: Colorado State cross Virginia sixty seven to forty two. Two
Speaker 12: more games in Dayton tonight than the turny begins in
Speaker 12: Earn It's sixteen games tomorrow. Saint Peter's, who's a fifteen seed,
Speaker 12: has a game late tomorrow against Tennessee the nit Underway
Speaker 12: BC wanted Providence at the Garden, rare loss with the
Speaker 12: Rangers only the ninth all year at home. Winnipeg got
Speaker 12: a hat trick from Mark Steifeley won four to two,
Speaker 12: Rangers fourth loss in their last twenty one games. Play
Speaker 12: tomorrow in Boston. Bruins got a hat trick from David
Speaker 12: pasternaife I was six to two. Devil's got a pair
Speaker 12: of goals from Timomyer down Pittsburgh five to two. The
Speaker 12: Islanders lost to Carolina four to one. At Barclay's Net's
Speaker 12: loss of the Pelicans one O four ninety one. That's
Speaker 12: fourth straight loss since Christmas. Brooklyn is eleven and twenty eight.
Speaker 12: Wizards lost by twenty five to Houston Johns Danshan. We're
Speaker 12: Bloomberg Sports.
Speaker 3: Let's get back to the latest primary results, what they
Speaker 3: say about the battle for control of Congress and the
Speaker 3: White House. We're joined now by Bloomberg News Senior editor
Speaker 3: Bill ferries So, Bill Arizona Florida, Illinois, Kansas, and Ohio.
Speaker 3: No surprise, President Biden and former President Trump swept them all.
Speaker 3: So we looked down ballot, what is the victory for
Speaker 3: Bernie Moreno in the Ohio Senate race?
Speaker 2: Say about Trump's hold on the GOP.
Speaker 13: Yeah, you're right, Nathan, it's we're having to look elsewhere
Speaker 13: for clues about what might happen in November. How strong
Speaker 13: the support is for both of the candidates, Prisident Biden
Speaker 13: and former President Trump. And certainly the Trump campaign is
Speaker 13: going to look very happy, happily on this victory by
Speaker 13: former car dealer and cryptocurrency mogul Bernie Moreno. He has
Speaker 13: been closely aligned with President Trump. He's had President Trump
Speaker 13: himself attending rallies in support of him and a lot
Speaker 13: of very very pro Trump friends and allies adjoining in that.
Speaker 13: So there's one sign there. It was also closely watched
Speaker 13: because people less associated with the Trump wing of the parties,
Speaker 13: such as Governor Mike DeWine, were favoring other candidates in
Speaker 13: the race who lost. So, you know, Ohio in the
Speaker 13: past has not been one of the more I guess
Speaker 13: like pro Trump Republican states, but there will be a
Speaker 13: big question about whether his forces are able to defeat
Speaker 13: Shared Brown come November.
Speaker 3: Yeah, that's going to be the big question, not just
Speaker 3: in that race, but in all the other races where
Speaker 3: Trump back candidates did well. Does the Trump wing of
Speaker 3: the GOP prevail in November or is the establishment wing
Speaker 3: going to be shown to be right that Trump's support
Speaker 3: doesn't necessar barely translate into results in a general election.
Speaker 13: You're right, President Trump has a very mixed history when
Speaker 13: it comes to endorsing candidates, particularly at the Senate level.
Speaker 13: But I think one thing that people will take note
Speaker 13: of in these Ohio races. In Ohio, of course, in
Speaker 13: the middle of the country, not bordering Mexico, immigration was
Speaker 13: a key issue in this You did hear a lot
Speaker 13: of talk about the need by Trump supporters to build
Speaker 13: a wall and force immigration law more strictly, come down
Speaker 13: harder on immigration. So if that's happening in Ohio, that's
Speaker 13: going to be something you have to wonder whether it
Speaker 13: reverberates more nationally in the former president's favor.
Speaker 3: Well, it seems like immigration is going to reverberate nationally
Speaker 3: in the courts as well. What do you make of
Speaker 3: this back and forth over this Texas migrant deportation law
Speaker 3: that the Supreme Court allowed to go forward, and then
Speaker 3: just hours later Appeals panel decided to blog, Yeah.
Speaker 13: It's pretty remarkable back and forth there between the Supreme
Speaker 13: Court and the Texas Court. The Texas Court has blocked
Speaker 13: that law. That that law, if you remember, basically makes
Speaker 13: it a state crime to enter Texas illegally or to
Speaker 13: leave it illegally. So it basically it was an attempt
Speaker 13: by Texas officials to take over immigration control at some level.
Speaker 13: It's still not clear how they were going to be
Speaker 13: enforcing that, what facilities they had, how were they going
Speaker 13: to make that determination? And it may again go back
Speaker 13: to the Supreme Court now that now that the lower
Speaker 13: court has ruled, but it has put officials actually on
Speaker 13: the border in a very strange position of trying to
Speaker 13: figure out at which point in time which laws they're
Speaker 13: supposed to be trying to carry out.
Speaker 3: Only about thirty seconds left, Bill, but we're expecting a
Speaker 3: call today from Israeli Prime Minister Benjamin Natanyahu to Republican senators,
Speaker 3: just days after Democratic Leader Chuck Schumer rebuked him on
Speaker 3: the Senate floor.
Speaker 13: Right, Republicans are really trying to take advantage of this
Speaker 13: issue that has strongly divided the Democrats. Chuck Schumer basically
Speaker 13: said there should be maybe new elections in Israel. That's
Speaker 13: been heavily criticized by Republicans. Of course, you had President
Speaker 13: former President Trump coming out just recently saying Jewish voters
Speaker 13: who support Democrats hate Israel and hate their religion, So
Speaker 13: really trying to inflame this issue. We'll see you know
Speaker 13: whether this, whether this takes hold, and whether you know
Speaker 13: this actually helps Netanyahu or Republicans going forward.
Speaker 14: This is Bloomberg Daybreak Today, your morning brief on the
Speaker 14: stories making news from Wall Street to Washington and beyond.
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Speaker 2: I'm Nathan Hager and I'm Karen Moscow.
Speaker 1: Join us again tomorrow morning for all the news you
Speaker 1: need to start your day, right here on Bloomberg Daybreak