1 00:00:01,960 --> 00:00:05,360 Speaker 1: Markets, headlines and breaking news twenty four hours a day 2 00:00:05,440 --> 00:00:08,440 Speaker 1: at Bloomberg dot Com, the Bloomberg Business apt and at 3 00:00:08,440 --> 00:00:18,840 Speaker 1: Bloomberg Quicktape is a Bloombern Business lash and I'm Karen Moscow. 4 00:00:18,920 --> 00:00:21,480 Speaker 1: In US dot Index futures are mixed this morning, we 5 00:00:21,520 --> 00:00:23,599 Speaker 1: go to the first word breaking news downs for today's 6 00:00:23,640 --> 00:00:27,960 Speaker 1: morning call. Here's Bill Maloney, Bill, good morning, Hey, good morning, Karen, 7 00:00:28,040 --> 00:00:30,360 Speaker 1: Like you said you as features are trading mixed right now, 8 00:00:30,400 --> 00:00:32,600 Speaker 1: with dout futures hired by seventy three point says if 9 00:00:32,640 --> 00:00:36,080 Speaker 1: he's game six and as deck futures are down by seventeen. 10 00:00:36,520 --> 00:00:39,200 Speaker 1: The US ten year old at two point seven two percent, 11 00:00:39,320 --> 00:00:42,160 Speaker 1: Gold is down, oil is climbing, and bitcoin is lower 12 00:00:42,240 --> 00:00:45,360 Speaker 1: by two percent. Shanghai rose half a percent overnight, while 13 00:00:45,440 --> 00:00:48,159 Speaker 1: up markets are also in the green this morning and 14 00:00:48,280 --> 00:00:50,839 Speaker 1: back in the US on the economic Fronday thirty GDP 15 00:00:51,080 --> 00:00:54,240 Speaker 1: and initial job as claims after the bellas night, Snowflake 16 00:00:54,320 --> 00:00:58,240 Speaker 1: reported said slower sales growth will continue and in videos 17 00:00:58,240 --> 00:01:02,320 Speaker 1: says that Shina lockdowns hurt their forecast regarding earnings. This morning, 18 00:01:02,360 --> 00:01:04,720 Speaker 1: look for a dollar General, Dollar Tree, and Macy's to 19 00:01:04,840 --> 00:01:07,399 Speaker 1: report in the pre market and a deal News. Elon 20 00:01:07,560 --> 00:01:11,520 Speaker 1: Musk boosted the aggregate equity commitment for Twitter to thirty 21 00:01:11,600 --> 00:01:14,080 Speaker 1: three and a half billion. Wrapping things up, car to 22 00:01:14,160 --> 00:01:17,199 Speaker 1: Health was cut the equator. Barkley's Lula Lemon raised overweight 23 00:01:17,240 --> 00:01:20,160 Speaker 1: at Morgan Stanley and Kraft Times was downgraded to sell 24 00:01:20,600 --> 00:01:23,840 Speaker 1: over at UBS Live from the First Breaking News desk 25 00:01:23,959 --> 00:01:26,160 Speaker 1: on Boo Melody Care, great Bill, thank you and to 26 00:01:26,200 --> 00:01:28,560 Speaker 1: hear live breaking news over here Bloomberg Time Squawk on 27 00:01:28,600 --> 00:01:31,440 Speaker 1: your terminal s q U a w K. Also watching 28 00:01:31,520 --> 00:01:34,840 Speaker 1: Southwest this morning after it raised its second quarter operating 29 00:01:34,880 --> 00:01:38,120 Speaker 1: revenue growth forecast. That's a Bloomberg business flash. Now here's 30 00:01:38,160 --> 00:01:40,440 Speaker 1: Michael Barr with more on less going on around the world. 31 00:01:40,560 --> 00:01:44,280 Speaker 1: Muttle Karen, thank you very much. Across the country, law 32 00:01:44,480 --> 00:01:47,400 Speaker 1: enforcement and school officials are ramping up security in the 33 00:01:47,400 --> 00:01:50,840 Speaker 1: wake of the Taxis shooting and left nineteen school children 34 00:01:50,920 --> 00:01:55,080 Speaker 1: and two teachers dead. The retired police officer killed while 35 00:01:55,240 --> 00:01:58,120 Speaker 1: trying to stop the gunman in a racist attack at 36 00:01:58,120 --> 00:02:01,760 Speaker 1: a Buffalo supermarket was laid to asked. Aaron Salter was 37 00:02:01,840 --> 00:02:05,760 Speaker 1: posthumously promoted to lieutenant and awarded the Medal of Honor. 38 00:02:06,320 --> 00:02:09,440 Speaker 1: Another big planeload of baby formula has arrived in the 39 00:02:09,520 --> 00:02:13,280 Speaker 1: United States to help ease the shortage worried parents are facing. 40 00:02:13,639 --> 00:02:17,120 Speaker 1: It will head to an Allentown, Pennsylvania distribution center. In 41 00:02:17,240 --> 00:02:20,320 Speaker 1: the NBA Playoffs, the Celtics beat the Heat. Boston is 42 00:02:20,360 --> 00:02:23,520 Speaker 1: now a game away from advancing to the finals. In baseball, 43 00:02:23,560 --> 00:02:26,520 Speaker 1: the Yankees shut out the Orioles to zip. The Giants 44 00:02:26,600 --> 00:02:29,000 Speaker 1: beat the Mets, the Red Sox lost the Nationals. And 45 00:02:29,200 --> 00:02:32,320 Speaker 1: A's one Global News twenty four hours a day on 46 00:02:32,520 --> 00:02:35,959 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 47 00:02:36,040 --> 00:02:38,720 Speaker 1: seven hundred journalists and analysts in more than a hundred 48 00:02:38,720 --> 00:02:41,360 Speaker 1: twenty countries. I'm Michael Barr, and this is Bloomberg. Karen, 49 00:02:41,560 --> 00:02:44,160 Speaker 1: all right, Michael Barr, thank you. It is six nine 50 00:02:44,200 --> 00:02:46,280 Speaker 1: on Wall Street. We turned to news in science and 51 00:02:46,360 --> 00:02:49,800 Speaker 1: Technology now with a Bloomberg and j I T STEM Report, 52 00:02:50,200 --> 00:02:53,040 Speaker 1: brought to you by New Jersey Institute of Technology, one 53 00:02:53,080 --> 00:02:56,840 Speaker 1: of the nation's leading polytechnic universities and a top military 54 00:02:56,919 --> 00:02:59,280 Speaker 1: friendly school. Learned more at n j I T DOT 55 00:02:59,360 --> 00:03:01,760 Speaker 1: E D Use Lash of Veterans and now here's it's 56 00:03:01,800 --> 00:03:05,440 Speaker 1: making news in science, technology, engineering, and math. Countries are 57 00:03:05,480 --> 00:03:09,160 Speaker 1: redeveloping abandoned crop lands at an unsustainable rate, according to 58 00:03:09,240 --> 00:03:12,280 Speaker 1: our report published in the journal Science Advances. The new 59 00:03:12,360 --> 00:03:15,240 Speaker 1: studies says abandoned crop lands need to be left alone 60 00:03:15,320 --> 00:03:19,079 Speaker 1: to regrow forests and reconstitute ecosystems. If they are put 61 00:03:19,160 --> 00:03:22,079 Speaker 1: to use too soon, it jeopardizes the lands contributions to 62 00:03:22,160 --> 00:03:26,720 Speaker 1: reducing CEO. Two Boeing star Liner commercial space vehicle returned 63 00:03:26,720 --> 00:03:29,640 Speaker 1: from a six days sojourned to the International Space Station. 64 00:03:30,040 --> 00:03:32,640 Speaker 1: It's an advance in the company's effort to provide now 65 00:03:32,760 --> 00:03:36,120 Speaker 1: SO with a second option for transporting astronauts. The n 66 00:03:36,160 --> 00:03:39,360 Speaker 1: Crede Starliner separated from the I s S early Wednesday 67 00:03:39,440 --> 00:03:42,000 Speaker 1: and touchdown at four or forty nine pm local time 68 00:03:42,280 --> 00:03:45,600 Speaker 1: at White Sands Missile Range in southern New Mexico. And 69 00:03:45,680 --> 00:03:49,400 Speaker 1: the UK's antitrust watchdogs started a new investigation into Google. 70 00:03:49,720 --> 00:03:53,160 Speaker 1: The investigation comes over suspicions the company may have abused 71 00:03:53,200 --> 00:03:56,160 Speaker 1: its dominant position across its ad tech that goes to 72 00:03:56,240 --> 00:03:59,280 Speaker 1: the heart of its business model. That's the Bloomberg and J. A. T. 73 00:03:59,440 --> 00:04:02,880 Speaker 1: Stemra Poor John. All right, thanks Karen. We are lying 74 00:04:02,920 --> 00:04:06,240 Speaker 1: for the Bloomberg Interact Broker Studios. It is now six 75 00:04:06,360 --> 00:04:09,280 Speaker 1: fifty one on one Street time to check what's going 76 00:04:09,360 --> 00:04:11,560 Speaker 1: on in d C. Some of the top stories in 77 00:04:11,640 --> 00:04:16,320 Speaker 1: our nation's capital include President Bladen urging action on guns, 78 00:04:16,480 --> 00:04:19,760 Speaker 1: as the signs in order on police reform Chuck Schoomer, 79 00:04:19,839 --> 00:04:24,880 Speaker 1: she says slim prospects for gun legislation anytime soon. And 80 00:04:25,080 --> 00:04:27,560 Speaker 1: the former president says he's going to attend the n 81 00:04:27,680 --> 00:04:31,400 Speaker 1: r A Houston event after the Taxis shootings. And then 82 00:04:31,440 --> 00:04:36,120 Speaker 1: there's the Pennsylvania Republican Senate race going into an automatic recount. 83 00:04:36,200 --> 00:04:38,160 Speaker 1: Let's take a deeper dive into some of these stories 84 00:04:38,400 --> 00:04:43,159 Speaker 1: this morning with Bloomberg TV and Radio Washington correspondent Amory 85 00:04:43,279 --> 00:04:47,600 Speaker 1: hord durn A, Marie, how are you? How are you? 86 00:04:48,160 --> 00:04:52,760 Speaker 1: Very good? Well, I think under the circumstances, the president 87 00:04:52,960 --> 00:04:56,640 Speaker 1: urging action on guns, let's take a deeper dive. What 88 00:04:57,080 --> 00:05:00,320 Speaker 1: what's he talking about? What are the prospects anything's actually 89 00:05:00,360 --> 00:05:05,040 Speaker 1: gonna happen. Yeah, it's been a really tough twenty four 90 00:05:05,080 --> 00:05:08,760 Speaker 1: hours for the nation. And the President didn't me explicitly 91 00:05:08,800 --> 00:05:11,360 Speaker 1: say what needs to be done, but just again in 92 00:05:11,640 --> 00:05:17,560 Speaker 1: vote his bully pulpit saying something has to be done 93 00:05:17,600 --> 00:05:20,160 Speaker 1: in terms of this country not have a backbone is 94 00:05:20,200 --> 00:05:22,680 Speaker 1: standing up to the gunlock. Is that the president's words were, 95 00:05:23,200 --> 00:05:26,880 Speaker 1: when you actually look at real changes, you know, we 96 00:05:27,080 --> 00:05:31,080 Speaker 1: have been down this road so many times, um, you know, 97 00:05:31,200 --> 00:05:35,120 Speaker 1: most notably twelve after the Sandy Hook massacre of that 98 00:05:35,320 --> 00:05:40,599 Speaker 1: elementary school. And right now, the one issue in Congress 99 00:05:40,680 --> 00:05:44,679 Speaker 1: that potentially could be a starting point to buipartisan support 100 00:05:44,960 --> 00:05:48,599 Speaker 1: are these red flag laws, which basically allows a family 101 00:05:48,680 --> 00:05:51,280 Speaker 1: member or an individual from the law enforcement to go 102 00:05:51,400 --> 00:05:54,920 Speaker 1: to the court and ask them to temporarily remove guns 103 00:05:55,360 --> 00:05:59,240 Speaker 1: from an individual that is unstable and could be deemed 104 00:05:59,400 --> 00:06:03,880 Speaker 1: a dangered society. So this has come bipartisan support. It 105 00:06:04,480 --> 00:06:08,880 Speaker 1: is a law in nineteen country states, including Washington, d C. 106 00:06:09,560 --> 00:06:11,960 Speaker 1: Many of these states took up these red flag logs 107 00:06:12,320 --> 00:06:16,000 Speaker 1: laws after the Parkland shooting at that high school in Parkland, Florida. 108 00:06:16,839 --> 00:06:19,520 Speaker 1: The issue is send a coon yesterday a little bit 109 00:06:19,600 --> 00:06:22,240 Speaker 1: more pessimistic, saying, you know, even if it got through 110 00:06:22,240 --> 00:06:24,800 Speaker 1: the House, even if there's some biparson support in the Senate, 111 00:06:25,400 --> 00:06:27,800 Speaker 1: you still have to get ten Republican senators, and he's 112 00:06:27,800 --> 00:06:30,960 Speaker 1: not sure you'll get all get enough to pass this 113 00:06:33,640 --> 00:06:36,480 Speaker 1: is the President is going to head to Texas at 114 00:06:36,560 --> 00:06:40,240 Speaker 1: some point. Yeah, he said, he in the first lady 115 00:06:40,279 --> 00:06:42,600 Speaker 1: will be heading to Texas. Actually she was at in 116 00:06:42,640 --> 00:06:44,520 Speaker 1: the vent yesterday as well, and she said, of course 117 00:06:44,560 --> 00:06:47,600 Speaker 1: will go there. And John, you know, this is I 118 00:06:47,640 --> 00:06:50,360 Speaker 1: think moving a child is quite personal for this president 119 00:06:50,960 --> 00:06:53,520 Speaker 1: in the sense that Mr he that happened to him twice. 120 00:06:54,040 --> 00:06:56,640 Speaker 1: He lost his adult son Bow, but he lost a 121 00:06:57,520 --> 00:07:02,200 Speaker 1: very young baby daughter in a our accidents. So this 122 00:07:02,360 --> 00:07:06,240 Speaker 1: is something I think the President inter internalizes the loss 123 00:07:06,240 --> 00:07:10,000 Speaker 1: of the child. But obviously this massacre, he wants to 124 00:07:10,040 --> 00:07:13,840 Speaker 1: be able to keep greet TV families and show that 125 00:07:13,920 --> 00:07:17,600 Speaker 1: he can with them. Okay, Um. The n r A 126 00:07:17,720 --> 00:07:21,680 Speaker 1: is still going ahead with its Houston events after the 127 00:07:22,120 --> 00:07:26,400 Speaker 1: Texas shootings, and the list of attendees and speakers will 128 00:07:26,480 --> 00:07:30,120 Speaker 1: include the former president and it looks like the messages 129 00:07:30,240 --> 00:07:33,800 Speaker 1: already being home that well, this is the Democrats fault 130 00:07:33,920 --> 00:07:39,920 Speaker 1: because they have failed to tackle mental health issues. Yes, 131 00:07:40,000 --> 00:07:44,239 Speaker 1: it depends who you ask in Washington how you should 132 00:07:44,280 --> 00:07:48,560 Speaker 1: approach the shootings. That really seems that only America deals 133 00:07:48,640 --> 00:07:53,800 Speaker 1: with it, and the publicans will say this is a 134 00:07:53,840 --> 00:07:57,720 Speaker 1: mental health issue. That yesterday as well and after the 135 00:07:57,800 --> 00:08:01,400 Speaker 1: President's plans, former President don try plans and saying at 136 00:08:01,440 --> 00:08:05,240 Speaker 1: the n Rights Animal meeting in Houston this weekend, he 137 00:08:05,400 --> 00:08:08,720 Speaker 1: says American needs real solutions, real leadership in this moment moment, 138 00:08:08,840 --> 00:08:13,160 Speaker 1: not politicians and partisanship. It's another part of the debate. John, 139 00:08:13,720 --> 00:08:16,320 Speaker 1: A lot of Republicans you said this yesterday was Governor 140 00:08:16,400 --> 00:08:19,440 Speaker 1: Abbott as he had beata or rooke him as he 141 00:08:19,520 --> 00:08:23,120 Speaker 1: was speaking, saying it's not time to make this political. 142 00:08:23,560 --> 00:08:26,840 Speaker 1: But Democrats say, this is exactly the right time. We 143 00:08:26,960 --> 00:08:29,200 Speaker 1: don't want to become themb to this, we don't want 144 00:08:29,240 --> 00:08:33,240 Speaker 1: to move past this. So this is going to be, uh, 145 00:08:33,320 --> 00:08:36,280 Speaker 1: you know, a fiery n R A moment given is 146 00:08:36,480 --> 00:08:39,160 Speaker 1: just four hours away from where this shooting in this 147 00:08:39,240 --> 00:08:43,360 Speaker 1: elementary school took place. Hey, Emory, from your perspective down 148 00:08:43,559 --> 00:08:46,800 Speaker 1: in the nation's capital, does this move the needle at 149 00:08:46,840 --> 00:08:50,079 Speaker 1: all in terms of issues that will shape them in 150 00:08:50,200 --> 00:08:53,559 Speaker 1: term elections. It's a good question. I don't think we 151 00:08:53,720 --> 00:08:56,520 Speaker 1: know just yet. I think this was the Democrats would 152 00:08:56,600 --> 00:08:59,760 Speaker 1: like it to. The President said a number of times 153 00:08:59,800 --> 00:09:02,760 Speaker 1: in to turn pamet action. You know, is that a 154 00:09:03,520 --> 00:09:06,640 Speaker 1: rallying call for Democrats to go out to vote. I 155 00:09:06,720 --> 00:09:09,599 Speaker 1: think the Democrats want to use this also the potential 156 00:09:09,720 --> 00:09:13,679 Speaker 1: of row Wee Wade being overturned in June. Uh. The 157 00:09:13,840 --> 00:09:16,520 Speaker 1: issue is the Republicans are really going to want to 158 00:09:16,559 --> 00:09:20,760 Speaker 1: hammer home the fact that consumer prices are at decades high. 159 00:09:21,000 --> 00:09:24,839 Speaker 1: We have very high inflation, deathlete prices, growth, rebuild, et cetera. 160 00:09:25,440 --> 00:09:28,839 Speaker 1: But there is a potential for some people to change 161 00:09:29,080 --> 00:09:31,960 Speaker 1: take some table issues like that and actually go out 162 00:09:32,040 --> 00:09:36,400 Speaker 1: and vote potentially on abortion right, but potentially on gun restation. 163 00:09:37,000 --> 00:09:38,960 Speaker 1: If I just want to wrap up and hit hit 164 00:09:39,040 --> 00:09:42,719 Speaker 1: this one quickly, the what's the update with the Pennsylvania 165 00:09:43,400 --> 00:09:48,360 Speaker 1: primary race? Good questions too close to call still, so 166 00:09:48,600 --> 00:09:51,400 Speaker 1: it goes into an auto Actually there's a Pennsylvania law 167 00:09:51,480 --> 00:09:55,680 Speaker 1: that requires an automatic recount um when it is this close. 168 00:09:56,280 --> 00:10:00,599 Speaker 1: So t P D John Okay, I appreciate goods and 169 00:10:00,679 --> 00:10:04,319 Speaker 1: talk to you. Bloomberg TV and Radio Washington correspondent and 170 00:10:04,559 --> 00:10:07,520 Speaker 1: Red Hordern apologize for the line there. That's a little 171 00:10:07,559 --> 00:10:10,640 Speaker 1: sketchy anyway. Um. You can read more about these stories 172 00:10:10,679 --> 00:10:13,480 Speaker 1: in Bloomberg dot com or Bloomberg terminal reminder. You can 173 00:10:13,559 --> 00:10:17,920 Speaker 1: follow all the latest Bloomberg Radio in Washington, d C. 174 00:10:18,120 --> 00:10:22,680 Speaker 1: That's Bloomberg at one oh five point seven FM HD 175 00:10:22,840 --> 00:10:26,200 Speaker 1: two and as we look a hand to the cash 176 00:10:26,400 --> 00:10:29,320 Speaker 1: open right now, the futures they are in the green. 177 00:10:29,480 --> 00:10:32,520 Speaker 1: The down futures I've wanted to twenty seven points, that's 178 00:10:32,559 --> 00:10:34,400 Speaker 1: a rise of fourth tens of a percent right now. 179 00:10:34,640 --> 00:10:37,520 Speaker 1: S and P futures fourteen points higher. That's a fourth 180 00:10:37,520 --> 00:10:39,959 Speaker 1: tense of re percent. And that as day futures of 181 00:10:40,080 --> 00:10:42,840 Speaker 1: twelve points, that is up a tenth of a percent. 182 00:10:43,000 --> 00:10:47,320 Speaker 1: Apple right now down one percent among the most actively 183 00:10:47,400 --> 00:10:51,120 Speaker 1: traded shares along with in video shares, they are down 184 00:10:51,520 --> 00:10:54,400 Speaker 1: five percent in the pre market, and the ten year 185 00:10:54,520 --> 00:10:58,319 Speaker 1: yield in the US the benchmark to seventy three that 186 00:10:58,480 --> 00:11:02,360 Speaker 1: is now one pasis point and just ahead. Bloomberg Surveillance 187 00:11:02,880 --> 00:11:07,000 Speaker 1: Live from the World Economic Forum Dono, Switzerland with Tom 188 00:11:07,120 --> 00:11:11,680 Speaker 1: Keane and Lisa prim Woods. Ever Karen Moscow, I'm John Tucker. 189 00:11:11,880 --> 00:11:18,120 Speaker 1: Have you've been listening to Bloomberg Day Bread broadcasting live 190 00:11:18,280 --> 00:11:22,239 Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg 191 00:11:22,240 --> 00:11:26,319 Speaker 1: E Living Freedom to Washington, d C. Bloomberg to Boston, 192 00:11:26,440 --> 00:11:29,839 Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine 193 00:11:29,920 --> 00:11:32,840 Speaker 1: sixty to the Country. Sirius XM Chad A one ninet 194 00:11:33,120 --> 00:11:36,600 Speaker 1: and around the globe, the Bloomberg Business and Bloomberg Radio 195 00:11:36,760 --> 00:11:45,640 Speaker 1: dot com. This is Bloomberg Daybreak. He had six thirty 196 00:11:45,679 --> 00:11:48,040 Speaker 1: on Wall Street. Good morning, I'm John Tucker and I'm 197 00:11:48,120 --> 00:11:50,640 Speaker 1: Karen Moscow. We're just about three hours away from the 198 00:11:50,679 --> 00:11:52,839 Speaker 1: open of US trading. Time for the five things you 199 00:11:52,920 --> 00:11:55,040 Speaker 1: need to notice start your day. Brought to you by 200 00:11:55,559 --> 00:11:59,920 Speaker 1: Interactive Brokers. Investment Advisors switched to Interactive Brokers for lois 201 00:12:00,120 --> 00:12:05,679 Speaker 1: caused global trading and turnkey custody solutions no ticket charges 202 00:12:05,720 --> 00:12:08,040 Speaker 1: and no complex of your interests at ibk R dot 203 00:12:08,080 --> 00:12:12,120 Speaker 1: com slash r i A first, US futures are higher, 204 00:12:12,160 --> 00:12:15,520 Speaker 1: at least SNP futures this after yesterday saw the SMP 205 00:12:15,679 --> 00:12:18,280 Speaker 1: five climb about one percent. We've been up and down 206 00:12:18,320 --> 00:12:20,720 Speaker 1: all week as traders assess the path of FED policy. 207 00:12:21,040 --> 00:12:23,680 Speaker 1: Jane Foley has had of f X strategy at Rabbo Bank. 208 00:12:24,080 --> 00:12:25,480 Speaker 1: I think the Fed is more likely to go the 209 00:12:25,559 --> 00:12:28,079 Speaker 1: full monthy. They need to get their credibility back. You know, 210 00:12:28,160 --> 00:12:30,319 Speaker 1: there's been so many accusations over the last few months 211 00:12:30,360 --> 00:12:32,280 Speaker 1: that they have behind the curve that they could affected 212 00:12:32,400 --> 00:12:35,080 Speaker 1: sooner on inflation. Even some of their own have admitted 213 00:12:35,080 --> 00:12:37,400 Speaker 1: that perhaps Fish would have started to hike before they 214 00:12:37,480 --> 00:12:40,800 Speaker 1: did at the end of last to keep demand and check. 215 00:12:41,240 --> 00:12:44,840 Speaker 1: Jane Foley and Robbo Bank seized dollar strength. Continuing minutes 216 00:12:44,840 --> 00:12:47,200 Speaker 1: from the latest FED meeting show officials looking to raise 217 00:12:47,240 --> 00:12:49,480 Speaker 1: interest rates by fifty basis points at each of their 218 00:12:49,520 --> 00:12:52,400 Speaker 1: next two decisions. See It's time to buy the different stocks. 219 00:12:52,559 --> 00:12:55,200 Speaker 1: At least that's according to strategist at City Group, who 220 00:12:55,240 --> 00:12:59,000 Speaker 1: say shares in Europe and emerging markets are most attractive. 221 00:12:59,240 --> 00:13:02,720 Speaker 1: Cities very mark a checklist currently warning on just six 222 00:13:02,840 --> 00:13:06,760 Speaker 1: of eighteen red flags. That compares to thirteen red flags 223 00:13:06,840 --> 00:13:09,800 Speaker 1: before the two thousand eight financial crisis. I mean also 224 00:13:09,880 --> 00:13:12,200 Speaker 1: a fresh US from Apple. Sources say the company plans 225 00:13:12,240 --> 00:13:14,880 Speaker 1: to keep iPhone production flat this year as the environment 226 00:13:14,960 --> 00:13:18,000 Speaker 1: turns challenging for the smartphone industry. At the same time, 227 00:13:18,040 --> 00:13:20,439 Speaker 1: Apple as boosting pay for its workers. The company is 228 00:13:20,520 --> 00:13:23,400 Speaker 1: raising US salaries by ten percent or more as it 229 00:13:23,480 --> 00:13:26,720 Speaker 1: faces a tight labor market and efforts to unionize. Shares 230 00:13:26,720 --> 00:13:29,400 Speaker 1: Her down more than one percent and Twitter gaining and 231 00:13:29,440 --> 00:13:32,560 Speaker 1: pre market trading after Elon musk change plans to fund 232 00:13:32,600 --> 00:13:35,439 Speaker 1: he Is acquisition. Is no longer looking to use a 233 00:13:35,600 --> 00:13:38,160 Speaker 1: margin loan for his forty four billion dollar purchase of 234 00:13:38,240 --> 00:13:41,160 Speaker 1: the social media Covity and boom Bridge. Nita Young is 235 00:13:41,240 --> 00:13:43,680 Speaker 1: here live with the story this morning. Good morning, Rinita, 236 00:13:43,720 --> 00:13:47,040 Speaker 1: Good morning John. A regulatory filing shows Elon Musk is 237 00:13:47,080 --> 00:13:50,280 Speaker 1: providing an additional six point to five billion dollars in 238 00:13:50,400 --> 00:13:53,800 Speaker 1: equity financing to buy out Twitter. That will increase the 239 00:13:53,920 --> 00:13:56,960 Speaker 1: size of the deal's equity component to thirty three point 240 00:13:57,040 --> 00:13:59,840 Speaker 1: five billion dollars, and it's enough to eliminate the mar 241 00:14:00,040 --> 00:14:02,839 Speaker 1: and loan. This new structure could reduce the risk of 242 00:14:02,880 --> 00:14:06,080 Speaker 1: the deal for both Musk and his lenders, particularly given 243 00:14:06,120 --> 00:14:09,480 Speaker 1: the recent slide in Tesla stock price. Shares of Tesla 244 00:14:09,600 --> 00:14:13,400 Speaker 1: have shrunk about forty since Musk first announced his stake 245 00:14:13,480 --> 00:14:16,360 Speaker 1: and Twitter in early April. Live in New York. I'm 246 00:14:16,400 --> 00:14:18,920 Speaker 1: Renita Young, Bloomberg depriak. All right, we need to thank you. 247 00:14:19,000 --> 00:14:21,680 Speaker 1: This update brought to you by Interactive Brokers Simple IBKR 248 00:14:21,720 --> 00:14:24,480 Speaker 1: Global Trader app deposit in your local currency and trade 249 00:14:24,520 --> 00:14:26,840 Speaker 1: stocks in the US, Europe and Asia. Start your free 250 00:14:26,880 --> 00:14:33,400 Speaker 1: trial at ibk r dot com Slash Global Trader. Thanks 251 00:14:33,480 --> 00:14:36,000 Speaker 1: Karen's sixty three on Wall Street and let's bring in 252 00:14:36,040 --> 00:14:38,200 Speaker 1: Michael barn now to tell us what else is going 253 00:14:38,280 --> 00:14:41,280 Speaker 1: on in New York hand around the world, John, Thank you, sir. 254 00:14:41,440 --> 00:14:44,320 Speaker 1: Texas Governor Greg Abbott says a number of concerning social 255 00:14:44,400 --> 00:14:47,360 Speaker 1: media posts were discovered by the gunman moments before the 256 00:14:47,480 --> 00:14:52,040 Speaker 1: rampage began and rob elementary school in Uvalde. Twenty one 257 00:14:52,120 --> 00:14:54,960 Speaker 1: people died before the eighteen year old gunmen was killed 258 00:14:55,000 --> 00:14:58,520 Speaker 1: by law enforcement. Governor Rabbit brushed to side calls for 259 00:14:58,760 --> 00:15:02,120 Speaker 1: strict gun legislature and noting that major cities have their 260 00:15:02,160 --> 00:15:05,440 Speaker 1: own gun laws in place, but they don't work, and 261 00:15:05,680 --> 00:15:08,600 Speaker 1: we need to realize that people who think that, well, 262 00:15:08,680 --> 00:15:12,280 Speaker 1: maybe if we could just implement tougher gun laws, it's 263 00:15:12,280 --> 00:15:15,200 Speaker 1: going to solve it. Chicago, in l A and New 264 00:15:15,280 --> 00:15:20,880 Speaker 1: York disproved that thesis. During the news briefing, Data O'Rourke, 265 00:15:20,920 --> 00:15:24,360 Speaker 1: who is running against Abbot for governor, interrupted the news 266 00:15:24,440 --> 00:15:28,760 Speaker 1: conference saying this shooting was totally predictable. He was escorted 267 00:15:28,800 --> 00:15:32,040 Speaker 1: out but told reporters outside enough is enough. The governor 268 00:15:32,080 --> 00:15:34,520 Speaker 1: talks about mental health. It is insane that we allow 269 00:15:34,560 --> 00:15:36,400 Speaker 1: an eighteen year old to go in and buy an 270 00:15:36,480 --> 00:15:38,600 Speaker 1: a R fifteen. What the hell did we think he 271 00:15:38,760 --> 00:15:41,360 Speaker 1: was gonna do with that data. O'Rourke says, this is 272 00:15:41,440 --> 00:15:44,320 Speaker 1: on all of us. New York Governor Kathy Hoco wants 273 00:15:44,400 --> 00:15:47,560 Speaker 1: to raise the age for purchasing the type of firearms 274 00:15:47,720 --> 00:15:51,640 Speaker 1: used in recent mass shootings in Buffalo and Texas. Governor 275 00:15:51,680 --> 00:15:54,400 Speaker 1: Hoco says she wants to raise the legal purchasing age 276 00:15:54,520 --> 00:15:58,680 Speaker 1: for a R fifteen style rifles to one. The governor 277 00:15:58,760 --> 00:16:01,680 Speaker 1: says she held an emergency meeting with state police and 278 00:16:01,800 --> 00:16:05,960 Speaker 1: I said, I want state police patrols visiting our schools 279 00:16:06,400 --> 00:16:10,280 Speaker 1: doing daily check ins every single day from today to 280 00:16:10,360 --> 00:16:12,920 Speaker 1: the end of the school year. Governor Hucole, a man 281 00:16:13,000 --> 00:16:15,840 Speaker 1: accused of randomly murdering a fellow passenger on the New 282 00:16:15,920 --> 00:16:19,240 Speaker 1: York City subway train, was denied bail. During his first 283 00:16:19,320 --> 00:16:22,720 Speaker 1: court appearance, Andrew Abdulla's lawyer urged the judge and the 284 00:16:22,800 --> 00:16:26,040 Speaker 1: public not to rush to judgment. On the second anniversary 285 00:16:26,080 --> 00:16:28,720 Speaker 1: of the death of George Floyd, President Biden signed an 286 00:16:28,800 --> 00:16:33,600 Speaker 1: executive order to address police accountability. The executive order raises standards, 287 00:16:34,280 --> 00:16:38,400 Speaker 1: bans chokeholes, restricts, no knock warrants, titans, use of force policies, 288 00:16:38,840 --> 00:16:42,400 Speaker 1: emphasized de escalation. I'm duty to the interview to stop 289 00:16:42,440 --> 00:16:46,080 Speaker 1: another offs from using the executive force. President Biden also 290 00:16:46,200 --> 00:16:49,000 Speaker 1: criticized the Senate for not passing reforms and the George 291 00:16:49,040 --> 00:16:52,200 Speaker 1: Floyd Justice in Policing Act. Eight of the ten largest 292 00:16:52,240 --> 00:16:55,480 Speaker 1: cities in the US lost population during the first year 293 00:16:55,560 --> 00:16:58,680 Speaker 1: the pandemic. The investiments released today by the U S 294 00:16:58,760 --> 00:17:01,880 Speaker 1: ins His Bureau show own Phoenix in San Antonio gained 295 00:17:01,960 --> 00:17:06,199 Speaker 1: new residents from one. New York led the way, losing 296 00:17:06,280 --> 00:17:10,040 Speaker 1: more than three hundred five thousand residents were about three 297 00:17:10,160 --> 00:17:14,359 Speaker 1: point five percent of its population. In its Global News 298 00:17:14,480 --> 00:17:16,800 Speaker 1: twenty four hours a day on air and on Bloomberg 299 00:17:16,840 --> 00:17:19,760 Speaker 1: Quick Take, powered by more twenty seven hundred journalists analysts 300 00:17:19,760 --> 00:17:21,879 Speaker 1: more than a hundred twenty countries. I'm Michael barn This 301 00:17:21,960 --> 00:17:29,600 Speaker 1: is Bloomberg, John, Michael. Thank yous now six thirties, six songs, 302 00:17:29,600 --> 00:17:32,320 Speaker 1: Wall Street Time down for the Blueberg Sports Update AD. 303 00:17:32,520 --> 00:17:36,159 Speaker 1: Here's Scott Sidenberg. Good morning, John Rookie JP Sear has 304 00:17:36,240 --> 00:17:39,520 Speaker 1: made his first big league start, tossing five scoreless innings 305 00:17:39,560 --> 00:17:42,280 Speaker 1: as the Yankees blank the Orioles to nothing, both runs 306 00:17:42,320 --> 00:17:43,920 Speaker 1: coming in the bottom of the fourth inning on a 307 00:17:44,040 --> 00:17:47,320 Speaker 1: Miguel and Do Hars single and a throwing error. Prior 308 00:17:47,400 --> 00:17:49,600 Speaker 1: to the game, The Yankees placed Gehan Carlos Stanton on 309 00:17:49,680 --> 00:17:51,920 Speaker 1: the ten day I l Aaron Boone after the game, 310 00:17:52,000 --> 00:17:54,960 Speaker 1: talked about the win with players stepping up. Yeah, I 311 00:17:55,000 --> 00:17:56,959 Speaker 1: mean it. It's been a tough couple of days for us, 312 00:17:57,080 --> 00:17:59,840 Speaker 1: just just with you know, some people going down and things, 313 00:18:00,000 --> 00:18:03,240 Speaker 1: and really excited to see those guys step in and 314 00:18:03,320 --> 00:18:06,399 Speaker 1: play key roles and help us get another series victory. 315 00:18:06,640 --> 00:18:09,440 Speaker 1: It was a different story for the Mets Rookie starter 316 00:18:09,640 --> 00:18:12,440 Speaker 1: Thomas Sapucky, who was roughed up in his first big 317 00:18:12,520 --> 00:18:16,360 Speaker 1: league start. Evan Longoria homard twice. Jock Peterson went deep 318 00:18:16,400 --> 00:18:18,679 Speaker 1: for the fourth time in two games as the Giants 319 00:18:18,800 --> 00:18:22,400 Speaker 1: route the Mets nine three. Sabucky tag for all nine 320 00:18:22,520 --> 00:18:24,760 Speaker 1: runs on seven hits and three walks in just an 321 00:18:24,800 --> 00:18:27,240 Speaker 1: inning and a third, the Mets losing back to back 322 00:18:27,280 --> 00:18:30,920 Speaker 1: games for just the first time since April tenth and eleven. 323 00:18:31,240 --> 00:18:33,920 Speaker 1: Hockey tonight, it's Game five between the Rangers and the 324 00:18:34,000 --> 00:18:36,800 Speaker 1: Hurricanes from Carolina, with the series tied at two games 325 00:18:36,840 --> 00:18:39,439 Speaker 1: a piece. NBA, the Celtics are one win away from 326 00:18:39,480 --> 00:18:42,640 Speaker 1: the NBA Finals after a night win over the Heat 327 00:18:42,720 --> 00:18:45,560 Speaker 1: last night in Miami. Tonight, the Warriors look to close 328 00:18:45,600 --> 00:18:48,320 Speaker 1: out the Mavericks in game five of the Western Finals. 329 00:18:48,560 --> 00:18:51,760 Speaker 1: Tennis at the French Open, Rafael Nadal reached the three 330 00:18:51,840 --> 00:18:55,080 Speaker 1: hundred Grand Slam match victories with his second round win, 331 00:18:55,480 --> 00:18:58,720 Speaker 1: only Roger Federer with three sixty nine and Novak Djokovic 332 00:18:58,840 --> 00:19:02,560 Speaker 1: with three twenty five more wins at major tournaments. Um 333 00:19:02,640 --> 00:19:06,440 Speaker 1: Scatt with Bloomberg Sports, John all right, thanks, Scott, is 334 00:19:06,520 --> 00:19:09,359 Speaker 1: now all six thirty eight. Well Street, time to take 335 00:19:09,400 --> 00:19:11,040 Speaker 1: a look at stocks, some of the names that are 336 00:19:11,080 --> 00:19:13,000 Speaker 1: moving in the premarket, and for that we're joined by 337 00:19:13,240 --> 00:19:18,919 Speaker 1: Bloomberg Radio and Television. Corresponded, Pretty Gupta. Oh look, Elon 338 00:19:19,000 --> 00:19:21,880 Speaker 1: Musk is in the news again. I'm shocked. Yeah, let's 339 00:19:22,000 --> 00:19:23,560 Speaker 1: let's start there and get it out of the way 340 00:19:23,600 --> 00:19:25,679 Speaker 1: if we can t w t RS your ticker there 341 00:19:25,720 --> 00:19:27,960 Speaker 1: for Twitter up five and a half percent in the 342 00:19:28,040 --> 00:19:30,440 Speaker 1: pre market. Of course, has comes after billionaire Elon Musk 343 00:19:30,640 --> 00:19:33,520 Speaker 1: dropped plans to partially fund his purchase of Twitter with 344 00:19:33,640 --> 00:19:36,320 Speaker 1: the margin load tied to his Tessela's sake, and increase 345 00:19:36,359 --> 00:19:39,160 Speaker 1: the size of the deal's equity component to thirty three 346 00:19:39,200 --> 00:19:41,480 Speaker 1: point five billion. That's a lot of jargon for something 347 00:19:41,600 --> 00:19:45,760 Speaker 1: very simple than they's just changing the financing a little bit. 348 00:19:45,960 --> 00:19:48,480 Speaker 1: But the reason that shares are up, essentially is because 349 00:19:48,560 --> 00:19:51,320 Speaker 1: it signals he's very serious about this deal, and that 350 00:19:51,480 --> 00:19:53,800 Speaker 1: was a concern weighing on Twitter shares lately. The idea 351 00:19:53,880 --> 00:19:56,280 Speaker 1: that if the deal is still on pause, is Elon 352 00:19:56,359 --> 00:19:58,520 Speaker 1: Musk looking to pull out. He also tweeted last night 353 00:19:58,960 --> 00:20:01,680 Speaker 1: about because turns around Twitter as well and things that 354 00:20:01,720 --> 00:20:03,560 Speaker 1: should be changed. So once again there is this kind 355 00:20:03,600 --> 00:20:05,600 Speaker 1: of flip flopping. But right now, the idea that he 356 00:20:05,800 --> 00:20:09,560 Speaker 1: is looking to fund his purchase or actually making arrangements 357 00:20:09,600 --> 00:20:12,080 Speaker 1: to do so, shows that perhaps he's serious about the deal. 358 00:20:12,119 --> 00:20:13,960 Speaker 1: So t W t R is your taker up five 359 00:20:14,000 --> 00:20:16,280 Speaker 1: and a half percent. But it's really the heavyweight tech 360 00:20:16,400 --> 00:20:18,520 Speaker 1: names John that are catching my attention. You gotta talk 361 00:20:18,520 --> 00:20:20,359 Speaker 1: about Apple. You have to talk about n Video because 362 00:20:20,400 --> 00:20:22,960 Speaker 1: that is the macro story at play right now. Apple, 363 00:20:23,000 --> 00:20:25,720 Speaker 1: in particular, A A p L is your taker down 364 00:20:25,920 --> 00:20:28,760 Speaker 1: one point four percent. A report coming out saying that 365 00:20:28,760 --> 00:20:31,720 Speaker 1: the tech giant is planning to keep iPhone production roughly 366 00:20:31,840 --> 00:20:34,960 Speaker 1: flat in two This is a huge deal because they, 367 00:20:35,080 --> 00:20:37,520 Speaker 1: of course are increasing their minimum wage. So I think 368 00:20:38,640 --> 00:20:42,280 Speaker 1: an hour as well. They're also looking to kind of 369 00:20:42,359 --> 00:20:45,000 Speaker 1: deal with more margin pressures and things like that, increasing 370 00:20:45,040 --> 00:20:49,080 Speaker 1: compensation given this kind of war for talent in Silicon Valley. 371 00:20:49,320 --> 00:20:53,119 Speaker 1: So if you're not growing your over here at the 372 00:20:53,200 --> 00:20:55,960 Speaker 1: Apple store right and it's it's everywhere, it's everywhere, the 373 00:20:56,040 --> 00:20:58,359 Speaker 1: labor market is hitting them hard and there. If you 374 00:20:58,480 --> 00:21:01,320 Speaker 1: don't have that increased production, then your margins are going 375 00:21:01,359 --> 00:21:03,560 Speaker 1: to get compressed. And that's I think the fear the 376 00:21:03,640 --> 00:21:07,879 Speaker 1: Apple retail union what I'm trying to figure out what 377 00:21:08,200 --> 00:21:11,800 Speaker 1: you are as wrong? Girl, I worked in retail in 378 00:21:11,920 --> 00:21:14,680 Speaker 1: high school. Man, I did not work in Apple stores, 379 00:21:14,720 --> 00:21:16,760 Speaker 1: although I wish I had. I hear they pay well 380 00:21:16,880 --> 00:21:18,920 Speaker 1: a A p L anyways down one point four percent. 381 00:21:19,000 --> 00:21:20,399 Speaker 1: Let me throw one more at you here and the 382 00:21:20,520 --> 00:21:25,280 Speaker 1: chips are down video but I like the chips segue 383 00:21:25,760 --> 00:21:27,760 Speaker 1: n v D as your taker down five and a 384 00:21:27,800 --> 00:21:30,760 Speaker 1: half percent. This is of course the heavyweight chipmaker giving 385 00:21:30,800 --> 00:21:33,520 Speaker 1: a revenue forecast weaker than expected. They remember they are 386 00:21:33,560 --> 00:21:37,359 Speaker 1: also dealing with this enormous demand up four chips, but 387 00:21:37,480 --> 00:21:40,440 Speaker 1: because of those COVID nineteen lockdowns in China that disrupted 388 00:21:40,480 --> 00:21:43,840 Speaker 1: production and transportation lines, they aren't necessarily able to capitalize 389 00:21:43,880 --> 00:21:47,200 Speaker 1: on and therefore giving a revenue forecast that was weaker 390 00:21:47,320 --> 00:21:49,200 Speaker 1: than expected. N v d A down five and a 391 00:21:49,200 --> 00:21:52,160 Speaker 1: half percent. Are you off tomorrow? You're here now, I'm here, 392 00:21:52,240 --> 00:21:55,000 Speaker 1: but I will be off next week. Okay, great, Bloomberg, 393 00:21:55,080 --> 00:21:58,320 Speaker 1: We'll talk about that tomorrow instead of stocks. Bloomberg Radio 394 00:21:58,320 --> 00:22:02,320 Speaker 1: and TV markets corresponded pretty gupta and as a whole 395 00:22:02,440 --> 00:22:06,200 Speaker 1: doll Right now down futures up sixty one, SMP futures 396 00:22:06,200 --> 00:22:09,240 Speaker 1: of five, the NAZAC futures all over the place this morning, 397 00:22:09,320 --> 00:22:13,920 Speaker 1: right now, down seventeen points. You're listening the Bloomberg tap bread. 398 00:22:16,760 --> 00:22:22,400 Speaker 1: Mostly cloudy later today, maybe shower the high temperature seventy Tomorrow, cloudy, showers, thunderstorms, 399 00:22:22,480 --> 00:22:25,639 Speaker 1: high sent eighty Saturday, showers and storms in the morning 400 00:22:26,920 --> 00:22:34,080 Speaker 1: to eighty. This is Bloomberg Markets, headlines and breaking news 401 00:22:34,240 --> 00:22:36,840 Speaker 1: twenty four hours a day at Bloomberg dot Com, the 402 00:22:36,920 --> 00:22:40,320 Speaker 1: Bloomberg Business at and at Bloomberg Quick Tape. This is 403 00:22:40,359 --> 00:22:49,560 Speaker 1: a Bloomberg Business flash, and I'm Karen Moscow. And US 404 00:22:49,560 --> 00:22:54,200 Speaker 1: stock index futures have in fluctuating. SMP futures are higher 405 00:22:54,480 --> 00:22:57,680 Speaker 1: right now. Traders are weighing federies or minutes that struck 406 00:22:57,720 --> 00:22:59,960 Speaker 1: a less hawk hawk ish note. We checked the mark. 407 00:23:00,000 --> 00:23:02,800 Speaker 1: It's every fifteen minutes throughout the trading day. On bloomberg 408 00:23:02,960 --> 00:23:05,320 Speaker 1: SMP Future is up eight points right now. D Future 409 00:23:05,359 --> 00:23:07,840 Speaker 1: is up eighty five NASDAGG Future is down to twelve. 410 00:23:08,200 --> 00:23:10,600 Speaker 1: The DAGs in Germany is up six tents of a 411 00:23:10,720 --> 00:23:13,120 Speaker 1: per cent ten. Your Treasury up five thirty seconds yield 412 00:23:13,119 --> 00:23:15,720 Speaker 1: two point seven two percent, yield of its two year 413 00:23:15,800 --> 00:23:18,600 Speaker 1: two point four six percent. Nine Max Screwed oil is 414 00:23:18,680 --> 00:23:20,520 Speaker 1: up nine tenths percent or ninety nine cents at a 415 00:23:20,600 --> 00:23:23,159 Speaker 1: hundred eleven dollars thirty three cents of barrel comex s 416 00:23:23,200 --> 00:23:24,920 Speaker 1: Gold down a tenth of upper cent or two dollars 417 00:23:24,960 --> 00:23:28,200 Speaker 1: thirty cents at eighteen fifty twenty announced the Euro one 418 00:23:28,240 --> 00:23:30,680 Speaker 1: point oh seven one six against the dollar, British pound 419 00:23:30,720 --> 00:23:33,000 Speaker 1: one point two six one seven, and the end one 420 00:23:33,040 --> 00:23:36,280 Speaker 1: twenty six point six nine Bitcoin this morning lower down 421 00:23:36,320 --> 00:23:39,159 Speaker 1: more than two percent at twenty nine thousand, one hundred 422 00:23:39,200 --> 00:23:41,800 Speaker 1: fifty dollars. Today we are looking for a second read 423 00:23:41,880 --> 00:23:44,280 Speaker 1: on first quarter gross domestic product at at eight thirty 424 00:23:44,280 --> 00:23:46,639 Speaker 1: Wall Street time, along with the weekly report on initial 425 00:23:46,720 --> 00:23:49,520 Speaker 1: jobless claims pending home sales are at a ten, and 426 00:23:49,560 --> 00:23:52,760 Speaker 1: Macy's is among companies scheduled to report earnings today. That's 427 00:23:52,800 --> 00:23:55,520 Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more 428 00:23:55,600 --> 00:23:58,560 Speaker 1: unless going on around the world. Michael Karen, thank you 429 00:23:58,720 --> 00:24:02,560 Speaker 1: very much. Republican Texas Governor Greg Abbott and his insisting 430 00:24:02,680 --> 00:24:04,879 Speaker 1: guns were not the problem of the mass shooting by 431 00:24:04,880 --> 00:24:07,840 Speaker 1: an eighteen year old that killed twenty one people, including 432 00:24:07,960 --> 00:24:12,720 Speaker 1: nineteen children. Abbot instead is pointing to mental health. Two 433 00:24:12,840 --> 00:24:16,000 Speaker 1: years to the day since George Floyd's death, President Biden 434 00:24:16,520 --> 00:24:20,560 Speaker 1: signed an executive order aimed at increasing police accountability. In 435 00:24:20,640 --> 00:24:23,399 Speaker 1: the NBA playoffs, the Celtics beat the Heat Boston, now 436 00:24:23,440 --> 00:24:26,280 Speaker 1: a game away from advancing to the finals. In baseball, 437 00:24:26,320 --> 00:24:29,280 Speaker 1: the Yankees shut out the Orioles to zip. The Giants 438 00:24:29,320 --> 00:24:31,720 Speaker 1: beat the Mets, the Red Sox lost the Nationals. And 439 00:24:31,840 --> 00:24:35,080 Speaker 1: A's one global news twenty four hours a day on 440 00:24:35,359 --> 00:24:38,520 Speaker 1: air and on Bloomberg Quick Take, powered by more than 441 00:24:38,600 --> 00:24:41,200 Speaker 1: twenty seven hundred journalists and analysts more than a hundred 442 00:24:41,240 --> 00:24:45,159 Speaker 1: twenty countries. Michael bar this is Bloomberg. John all right, Michael, 443 00:24:45,200 --> 00:24:48,560 Speaker 1: thank you very much. It is now six twenty out 444 00:24:48,600 --> 00:24:50,920 Speaker 1: Wall Street we are lying for the Bloomberg inter Racker 445 00:24:51,000 --> 00:24:55,040 Speaker 1: Broker Studios. This is Bloomberg daybreak among the most actively 446 00:24:55,119 --> 00:24:58,000 Speaker 1: traded stocks of the pre market, shares of Apple down 447 00:24:58,240 --> 00:25:00,760 Speaker 1: one and a half percent. Apple is going to keep 448 00:25:00,800 --> 00:25:05,800 Speaker 1: its iPhone production flat. Let's find out more Bloomberg Quick 449 00:25:05,840 --> 00:25:09,960 Speaker 1: take Canker alex Web stopping buying to give us some insight. 450 00:25:10,200 --> 00:25:14,680 Speaker 1: Is this a demand or a supply driven thing? It 451 00:25:14,920 --> 00:25:17,359 Speaker 1: almost certainly a little bit of both, but the demand 452 00:25:17,440 --> 00:25:20,920 Speaker 1: element is probably at this stage more significant. What Apple 453 00:25:21,000 --> 00:25:25,399 Speaker 1: tends to do is set up the number they demand 454 00:25:25,560 --> 00:25:28,680 Speaker 1: for production from their suppliers. Tend to be an upper limit, 455 00:25:28,760 --> 00:25:31,600 Speaker 1: and they work back from that. So the two d 456 00:25:31,720 --> 00:25:34,280 Speaker 1: and twenty million, there's always a possibility it could be 457 00:25:34,440 --> 00:25:37,760 Speaker 1: significantly lower than that, but they have got problems in 458 00:25:37,800 --> 00:25:39,600 Speaker 1: the supply chain. You've also then have a lot of 459 00:25:39,600 --> 00:25:42,280 Speaker 1: people struggling with inflation and looking at how to spend 460 00:25:42,320 --> 00:25:45,280 Speaker 1: their budgets. Does a thousand dollar iPhone towards the end 461 00:25:45,320 --> 00:25:49,440 Speaker 1: of this year board in the realm of something that's 462 00:25:49,480 --> 00:25:52,159 Speaker 1: necessary for a lot of people. Maybe not? Uh, And 463 00:25:52,400 --> 00:25:56,280 Speaker 1: remind everybody the iPhone what it means to Apple in 464 00:25:56,520 --> 00:26:00,640 Speaker 1: terms of the breakdown of its revenue. Well, are far 465 00:26:00,760 --> 00:26:02,960 Speaker 1: less important than it used to be. Actually it was 466 00:26:03,040 --> 00:26:08,280 Speaker 1: about six I think it was. Now it's closer. So 467 00:26:08,920 --> 00:26:13,800 Speaker 1: they've managed to diversify quite considerably into services and of 468 00:26:13,880 --> 00:26:17,400 Speaker 1: course other devices. But services include downlards from the app store, 469 00:26:17,440 --> 00:26:22,119 Speaker 1: Apple TV, plast, Apple Music, all those things, which advantageously 470 00:26:22,240 --> 00:26:25,640 Speaker 1: for a company like Apple, are more dependable recurring revenue. 471 00:26:25,680 --> 00:26:27,720 Speaker 1: You might sign a year long to year, you know, 472 00:26:28,480 --> 00:26:30,359 Speaker 1: you sign up something on a monthly basis, but you 473 00:26:30,440 --> 00:26:33,960 Speaker 1: stick around for two years with that subscription the iPhone, Yes, 474 00:26:34,040 --> 00:26:36,040 Speaker 1: it is very sticky. People do renew it, but they 475 00:26:36,080 --> 00:26:37,800 Speaker 1: could wait three years before they give new one or 476 00:26:37,840 --> 00:26:41,080 Speaker 1: even four. And that's increasingly being the trend. You have 477 00:26:41,200 --> 00:26:44,600 Speaker 1: got dependable, high margin revenue with services, and now Apple 478 00:26:44,640 --> 00:26:48,160 Speaker 1: has pivoted quite successfully towards it. They's seeing much competition, 479 00:26:50,520 --> 00:26:52,960 Speaker 1: I mean, no more or less, frankly than they have 480 00:26:53,040 --> 00:26:54,800 Speaker 1: been doing in the past. The bigger concern is actually 481 00:26:54,800 --> 00:26:56,600 Speaker 1: how competition is going to shape up as we move 482 00:26:56,640 --> 00:26:59,200 Speaker 1: into the next generation of devices, when we think about 483 00:26:59,480 --> 00:27:01,639 Speaker 1: smart us is and those sort of things, which then 484 00:27:01,680 --> 00:27:02,920 Speaker 1: I don't know if we're gonna talk about this in 485 00:27:02,960 --> 00:27:07,119 Speaker 1: the second, but that flicks at this issue of competition 486 00:27:07,200 --> 00:27:10,440 Speaker 1: for employees that Facebook is piling into the space of 487 00:27:10,720 --> 00:27:13,119 Speaker 1: augmented in virtual reality, and they're hiring a lot of 488 00:27:13,119 --> 00:27:15,320 Speaker 1: people from Apple as a consequence. So that actually is 489 00:27:15,359 --> 00:27:18,600 Speaker 1: the threat for Apple right now. It's competitions to talent. Yeah, well, 490 00:27:19,040 --> 00:27:22,320 Speaker 1: just paying more. Oh wait, they are right, well exactly. 491 00:27:22,400 --> 00:27:24,159 Speaker 1: So that's the news we have overnight that Apple is 492 00:27:24,160 --> 00:27:26,800 Speaker 1: going to start playing its employees in the U S 493 00:27:26,840 --> 00:27:29,080 Speaker 1: at least ten percent more. This applies, of course to 494 00:27:29,119 --> 00:27:31,879 Speaker 1: the engineering talent they have, but also significantly to the 495 00:27:31,960 --> 00:27:34,680 Speaker 1: retail employees that they have around the country. And you know, 496 00:27:34,760 --> 00:27:37,040 Speaker 1: there are two elements there. There's competition for employees, but 497 00:27:37,119 --> 00:27:41,560 Speaker 1: there is also um unionization, which potentially Apple might be 498 00:27:41,600 --> 00:27:46,080 Speaker 1: trying to fend off. We've seen Amazon some Amazon locations 499 00:27:46,200 --> 00:27:49,560 Speaker 1: unionized in the past year or so. Apple may have 500 00:27:49,680 --> 00:27:51,760 Speaker 1: that on the in their view, they might see it 501 00:27:51,800 --> 00:27:54,000 Speaker 1: as a specter. They might see that on the horizon ago, Well, 502 00:27:54,080 --> 00:27:55,520 Speaker 1: let's try to get ahead of it by offering our 503 00:27:55,560 --> 00:27:59,080 Speaker 1: employees and something more. Okay, So do they answers the 504 00:27:59,520 --> 00:28:02,160 Speaker 1: the what's the extent of which is going to cut 505 00:28:02,280 --> 00:28:06,920 Speaker 1: into the revenues? I mean, it's highly unlikely to take 506 00:28:06,960 --> 00:28:09,159 Speaker 1: a big chunk out of their margins, you know, for 507 00:28:09,240 --> 00:28:12,560 Speaker 1: the partly for that reason, I have said that the 508 00:28:12,640 --> 00:28:16,720 Speaker 1: stores are really about selling hardware, and hardware is you know, 509 00:28:17,080 --> 00:28:19,639 Speaker 1: proportionately not as big a part of their revenue. They 510 00:28:19,680 --> 00:28:22,399 Speaker 1: make so much of it now from from services. Now 511 00:28:22,480 --> 00:28:25,880 Speaker 1: they have four hundred stores around the world. Good chunk 512 00:28:25,920 --> 00:28:27,800 Speaker 1: of those are in the US, but I think it's 513 00:28:27,840 --> 00:28:30,760 Speaker 1: slightly lesser than than half. So uh, you know, do 514 00:28:30,840 --> 00:28:32,840 Speaker 1: you think of a few hundred stores and in the 515 00:28:32,920 --> 00:28:37,240 Speaker 1: scope of almost two hundred billion dollars only story of 516 00:28:37,280 --> 00:28:41,480 Speaker 1: mythologies almost four hundred billion dollars in revenue, it's really 517 00:28:41,600 --> 00:28:43,200 Speaker 1: something of a rounding era when you look at their 518 00:28:43,240 --> 00:28:46,880 Speaker 1: overall costs. Yeah, Alex of Apple seems to always have 519 00:28:47,160 --> 00:28:51,080 Speaker 1: something up it's sleeve. What's next? We are expecting a 520 00:28:51,120 --> 00:28:53,720 Speaker 1: big refresh of of the iPhone later this year or 521 00:28:53,800 --> 00:28:57,320 Speaker 1: be the iPhone fourteen. Few details of seat out. Our 522 00:28:57,360 --> 00:28:59,880 Speaker 1: colleague Mark German has been very much on top of it. Um. 523 00:29:00,000 --> 00:29:01,520 Speaker 1: I think it's probably gonna be the form factor as 524 00:29:01,600 --> 00:29:04,400 Speaker 1: much as anything else. But usually the upgrades are to 525 00:29:04,520 --> 00:29:07,080 Speaker 1: do with the quality of the camera and the quality 526 00:29:07,120 --> 00:29:09,320 Speaker 1: of the silicon and the chips running the thing, and 527 00:29:10,440 --> 00:29:14,600 Speaker 1: that's what we can expect without fail. Whether there's something 528 00:29:14,640 --> 00:29:17,160 Speaker 1: else that comes alongside of it. It's hard to see big, 529 00:29:17,600 --> 00:29:20,160 Speaker 1: significant upgrades at this stage, but you don't necessarily need that, 530 00:29:20,200 --> 00:29:22,600 Speaker 1: because if you're upgrading the chips and you're upgrading the camera, 531 00:29:22,880 --> 00:29:25,680 Speaker 1: the phone requires more memory, it requires more processing power. 532 00:29:26,040 --> 00:29:29,200 Speaker 1: Apps come along that use all of that. It gently 533 00:29:29,360 --> 00:29:32,320 Speaker 1: drags people into the next generation of bones over time, 534 00:29:32,760 --> 00:29:38,280 Speaker 1: even if there's not a significant blockbuster achievement intense of innovation. Alice, 535 00:29:38,320 --> 00:29:42,680 Speaker 1: we appreciate thanks for the update. Alex Web are quick 536 00:29:42,720 --> 00:29:46,560 Speaker 1: take anchor and again. Shares of Apple this morning among 537 00:29:46,640 --> 00:29:49,800 Speaker 1: the most actively traded right now, they are down one 538 00:29:50,000 --> 00:29:53,680 Speaker 1: and a half percent in pre market trading. Yeah, right 539 00:29:53,720 --> 00:29:57,440 Speaker 1: now ahead of the cash open our Wall Street. We're 540 00:29:57,480 --> 00:30:01,680 Speaker 1: seeing futures mixed this morning. The futures up eighty two points, 541 00:30:01,920 --> 00:30:04,920 Speaker 1: S and B futures, the REP seven and technivy NaNs 542 00:30:05,000 --> 00:30:08,280 Speaker 1: dead futures kind of bouncing between gains and losses. Right now, 543 00:30:08,760 --> 00:30:11,800 Speaker 1: they are down twelve points. You're listening the Bloomberg day 544 00:30:11,840 --> 00:30:19,520 Speaker 1: break and the Bloomberg weather fort today, cloudy, maybe a 545 00:30:19,560 --> 00:30:23,240 Speaker 1: shower later today. At the high semity tomorrow showers thunderstorms 546 00:30:23,440 --> 00:30:32,600 Speaker 1: in the afternoon, high eighty. This is Bloomberg from the 547 00:30:32,640 --> 00:30:36,880 Speaker 1: Bloomberg Interactive Brooker's Studios. Is Bloomberg day Break for Thursday, 548 00:30:36,960 --> 00:30:41,240 Speaker 1: May two, coming up this hour. Big Tech feels the 549 00:30:41,360 --> 00:30:45,960 Speaker 1: pinch of supply chain, bottlenecks and COVID lockdowns. Elon must survive. 550 00:30:46,080 --> 00:30:49,080 Speaker 1: Twitter bids and shares higher in the pre market, and 551 00:30:49,200 --> 00:30:52,960 Speaker 1: President Biden signs that key executive order. Two years after 552 00:30:53,080 --> 00:30:56,080 Speaker 1: George Floyd's death, New York Governor Hocle wants to raise 553 00:30:56,200 --> 00:30:59,600 Speaker 1: the aged by guns plus the alleged gunmen in Sunday's 554 00:30:59,640 --> 00:31:02,960 Speaker 1: deadly subway shooting is being held without bail. I'm Michael 555 00:31:02,960 --> 00:31:06,440 Speaker 1: blar More ahead, I'm Scott Sedburg, and Yankees win the 556 00:31:06,560 --> 00:31:08,960 Speaker 1: Mets lows and the Rangers go for a three too 557 00:31:09,120 --> 00:31:11,920 Speaker 1: series lead. Today. I'll have that more coming up in 558 00:31:11,960 --> 00:31:18,280 Speaker 1: the sports Mentall's train ahead on Bloomberg Daybreak on Bloomberg 559 00:31:18,360 --> 00:31:22,200 Speaker 1: eleven three, on New York, Bloomberg one, Washington, d C, 560 00:31:22,680 --> 00:31:26,959 Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, 561 00:31:27,480 --> 00:31:31,160 Speaker 1: Sirius XAM one nineteen and around the world on Bloomberg 562 00:31:31,240 --> 00:31:37,800 Speaker 1: Radio dot com and via the Bloomberg Business APT And 563 00:31:37,920 --> 00:31:41,040 Speaker 1: good morning. I'm Karen Moscow and I'm John Sucker. Bloomberg 564 00:31:41,120 --> 00:31:43,240 Speaker 1: Daybreak being brought to you by B and Y Melon's 565 00:31:43,240 --> 00:31:46,640 Speaker 1: Pershing Insight Conference back in person June fifteen through the 566 00:31:46,720 --> 00:31:50,840 Speaker 1: seventeenth at the Gaylord Resort in Grapevine, Texas. They'll miss it, 567 00:31:50,960 --> 00:31:53,560 Speaker 1: Renchister now at the Insight dot B and Y melon 568 00:31:53,720 --> 00:31:56,440 Speaker 1: dot com and US futures are higher this morning, with 569 00:31:56,600 --> 00:31:58,840 Speaker 1: S and P future is up about eleven points down, 570 00:31:58,880 --> 00:32:01,640 Speaker 1: futures up a hundred four at nowsday, Futures that will change, 571 00:32:01,720 --> 00:32:04,080 Speaker 1: and your treasury of three thirty seconds yield two point 572 00:32:04,160 --> 00:32:07,360 Speaker 1: seven three percent. John Hey, Carol, looks like markets are 573 00:32:07,440 --> 00:32:10,000 Speaker 1: groping for a direction this morning. It's been an up 574 00:32:10,080 --> 00:32:13,960 Speaker 1: and down week. The nanz X right now is unchanged 575 00:32:14,000 --> 00:32:16,560 Speaker 1: and early trading following some shake up some big tech. 576 00:32:16,920 --> 00:32:20,760 Speaker 1: Pepper International Founder and CEO Carol Pepper believes the outlook 577 00:32:20,760 --> 00:32:24,640 Speaker 1: remains strong despite some uncertainty when prices get too high 578 00:32:25,240 --> 00:32:29,080 Speaker 1: on goods right now, consumers are backing off this diflation. 579 00:32:29,280 --> 00:32:32,160 Speaker 1: Instiens that you have high inflation and that the prices 580 00:32:32,320 --> 00:32:34,200 Speaker 1: and no growth I just don't think that's going to 581 00:32:34,320 --> 00:32:36,320 Speaker 1: happen anymore. I really think we're going to be much 582 00:32:36,320 --> 00:32:39,400 Speaker 1: more in a situation where inflation will start tapering down, 583 00:32:39,680 --> 00:32:41,960 Speaker 1: and then we'll start to get into more normalized market, 584 00:32:42,040 --> 00:32:45,120 Speaker 1: probably by the end of the year. Peppery International founder 585 00:32:45,200 --> 00:32:48,120 Speaker 1: Carol Pepper also believes that US will avoid a recession 586 00:32:48,160 --> 00:32:51,800 Speaker 1: this year. John Chairs of Nvidia are down in early trading, 587 00:32:51,880 --> 00:32:54,160 Speaker 1: no off their lowest levels. They slid as much as 588 00:32:54,240 --> 00:32:57,080 Speaker 1: ten percent after earnings missed estimates, and in video said 589 00:32:57,120 --> 00:33:00,160 Speaker 1: shina Is COVID lockdowns in the war in Ukraine are 590 00:33:00,240 --> 00:33:03,760 Speaker 1: weighing on sales forecast. The chipmaker's CEO also said it's 591 00:33:03,840 --> 00:33:06,920 Speaker 1: doing its best to combat supply chain Bottlenecks and chairs 592 00:33:06,960 --> 00:33:08,680 Speaker 1: are down more than five and a half percent in 593 00:33:08,720 --> 00:33:12,440 Speaker 1: the pre market, and Apple is also shaking up dance 594 00:33:12,520 --> 00:33:15,880 Speaker 1: deck features this morning with a couple of announcements. Sources 595 00:33:15,960 --> 00:33:18,760 Speaker 1: say the company plans to keep iPhone production flat this year. 596 00:33:19,080 --> 00:33:23,240 Speaker 1: It's and suppliers to assemble approximately two D twenty million iPhones, 597 00:33:23,600 --> 00:33:26,440 Speaker 1: that's about the same as last year. Apple also revealed 598 00:33:26,480 --> 00:33:30,080 Speaker 1: it's raising salaries for US workers like ten percent, and 599 00:33:30,120 --> 00:33:33,440 Speaker 1: Bloomberg Quick Tech anchor Alex Webb says, it's an important 600 00:33:33,480 --> 00:33:36,320 Speaker 1: staff to retain workers. You have two things where you've 601 00:33:36,320 --> 00:33:40,000 Speaker 1: got this unionization threat on, which is something which has 602 00:33:40,000 --> 00:33:42,760 Speaker 1: been happening across a bunch of tech companies, at least Amazon, 603 00:33:42,880 --> 00:33:44,800 Speaker 1: So there's a suspicion this is sort of trying to 604 00:33:44,880 --> 00:33:46,640 Speaker 1: fend that off and say, well, we pay you pretty 605 00:33:46,640 --> 00:33:50,920 Speaker 1: well already. There's also the threat of people hiring both 606 00:33:51,160 --> 00:33:54,640 Speaker 1: the engineers but also from those stores Bloomberg sound like 607 00:33:54,800 --> 00:33:57,760 Speaker 1: Webb says Apple's biggest number of employers comes from its 608 00:33:57,840 --> 00:34:01,200 Speaker 1: stores and shares of Apple right now, they are down 609 00:34:01,440 --> 00:34:03,840 Speaker 1: in the pre market one and a half percent. Well, 610 00:34:03,920 --> 00:34:07,200 Speaker 1: John Yesterday's FED minutes are also driving markets. This morning, 611 00:34:07,240 --> 00:34:10,480 Speaker 1: officials revealed a less hawkish tone than expected. They planned 612 00:34:10,480 --> 00:34:12,839 Speaker 1: to raise interest rates by fifty basis points at each 613 00:34:12,840 --> 00:34:15,279 Speaker 1: of the next two meetings, leaving them with flexibility to 614 00:34:15,400 --> 00:34:18,600 Speaker 1: change course later. And another FED note there's worth that 615 00:34:18,680 --> 00:34:22,360 Speaker 1: the Kansas City FED president Answer George will retire in January. 616 00:34:22,440 --> 00:34:24,680 Speaker 1: George will leave her post at about the same time 617 00:34:25,080 --> 00:34:28,480 Speaker 1: as Chicago FED chief Charles Evans. That will create two 618 00:34:28,600 --> 00:34:32,200 Speaker 1: openings among the twelve regional FED banks next year. Well, 619 00:34:32,239 --> 00:34:35,120 Speaker 1: stocks in Europe opened higher this morning. Energy shares are 620 00:34:35,160 --> 00:34:38,440 Speaker 1: leading the stock six hundred following gains in oil prices overnight. 621 00:34:38,520 --> 00:34:41,680 Speaker 1: In Asia, stoor choppy following concerning comments from a top 622 00:34:41,800 --> 00:34:44,640 Speaker 1: Chinese official, and Bloomberge Juliette Sally joins us with the 623 00:34:44,680 --> 00:34:47,879 Speaker 1: details from Singapore. Juliette, good morning, Good morning, John and Karen. 624 00:34:47,960 --> 00:34:50,480 Speaker 1: Chinese stokes fluctuated, while bonds rallied and the off show 625 00:34:50,480 --> 00:34:52,960 Speaker 1: You one led Asian e m f X losses as 626 00:34:52,960 --> 00:34:56,439 Speaker 1: premierly one. China's economy is in some respects faring worse 627 00:34:56,560 --> 00:35:00,520 Speaker 1: than in twenty Japanese stokes edged up on reopening prospects, 628 00:35:00,560 --> 00:35:02,799 Speaker 1: and Ali Baba was in focus in Hong Kong ahead 629 00:35:02,840 --> 00:35:05,640 Speaker 1: of its earnings report. The Korean one weekend after the 630 00:35:05,680 --> 00:35:08,520 Speaker 1: Bank of Korea raised its key interest rate on Thursday 631 00:35:08,800 --> 00:35:12,319 Speaker 1: and indicated further hikes are coming, as it indicated stabilizing 632 00:35:12,400 --> 00:35:16,600 Speaker 1: inflation is its key goal. In Singapore, Juliette Sale bloomber Daybreak, 633 00:35:16,719 --> 00:35:19,000 Speaker 1: Julia thanks. Back here in the US, there's more news 634 00:35:19,080 --> 00:35:21,920 Speaker 1: from the text sector. Twitter shares higher and early trading 635 00:35:22,160 --> 00:35:25,239 Speaker 1: after Elon must change plans to fund he his acquisition. 636 00:35:25,640 --> 00:35:27,920 Speaker 1: He's no longer looking to use a margin loan for 637 00:35:28,000 --> 00:35:31,120 Speaker 1: his forty four billion dollar purchase of the social media company. 638 00:35:31,440 --> 00:35:34,040 Speaker 1: Bloomberg's Really Too Young is here Live with the story, 639 00:35:34,239 --> 00:35:37,360 Speaker 1: Really the good morning, Good Morning John. A regulatory filing 640 00:35:37,440 --> 00:35:40,480 Speaker 1: shows Elon Musk is providing an additional six point to 641 00:35:40,680 --> 00:35:44,000 Speaker 1: five billion dollars in equity financing to buy out Twitter. 642 00:35:44,520 --> 00:35:47,200 Speaker 1: That will increase the size of the deal's equity component 643 00:35:47,280 --> 00:35:50,319 Speaker 1: to thirty three point five billion dollars, and it's enough 644 00:35:50,360 --> 00:35:53,840 Speaker 1: to eliminate the margin loan. This new structure could reduce 645 00:35:53,960 --> 00:35:56,400 Speaker 1: the risk of the deal for both Musk and his lenders, 646 00:35:56,680 --> 00:36:00,839 Speaker 1: particularly given the recent slide and Tesla's stock price. Shares 647 00:36:00,880 --> 00:36:05,160 Speaker 1: of Tesla have shrunk about since Musk first announced his 648 00:36:05,239 --> 00:36:08,239 Speaker 1: stake and Twitter in early April. Live in New York. 649 00:36:08,320 --> 00:36:10,800 Speaker 1: I'm gonna need a Young Bloomberg daybreak, all right, Renia, 650 00:36:10,880 --> 00:36:12,960 Speaker 1: thank you. Let's tarn the politics now. In the latest 651 00:36:13,000 --> 00:36:15,040 Speaker 1: move from the White House, two years to the day 652 00:36:15,080 --> 00:36:18,400 Speaker 1: since George Floyd's death, President Joe Biden signed an executive 653 00:36:18,480 --> 00:36:21,720 Speaker 1: order aimed at law enforcement accountability on Bloomberg, said baxterre 654 00:36:21,760 --> 00:36:24,960 Speaker 1: has the story. President Biden, along with Vice President Kamala 655 00:36:25,000 --> 00:36:27,800 Speaker 1: Harris as the administration couldn't wait any longer for the 656 00:36:27,880 --> 00:36:31,239 Speaker 1: Senate to pass legislation, and Harris says it's not aimed 657 00:36:31,280 --> 00:36:36,120 Speaker 1: at hurting police, but communication to strength and trust between 658 00:36:36,200 --> 00:36:39,360 Speaker 1: law enforcement and the communities they served. It creates a 659 00:36:39,440 --> 00:36:43,880 Speaker 1: new national Law Enforcement and Accountability database to track records 660 00:36:43,920 --> 00:36:47,680 Speaker 1: of misconduct so that an officer can't hide the misconduct, 661 00:36:47,840 --> 00:36:50,640 Speaker 1: and mandates the use of body cameras and record keeping. 662 00:36:51,080 --> 00:36:53,560 Speaker 1: He says the administration will continue to try and get 663 00:36:53,680 --> 00:36:57,520 Speaker 1: legislation passed. In San Francisco, I'm at Baxter Bloomberg Gaybreak 664 00:36:57,680 --> 00:37:01,799 Speaker 1: and thanks that. In Pennsylvania, this worring high profile Republicans 665 00:37:01,840 --> 00:37:05,120 Speaker 1: Senate race headed for a recount. Amy Morris has details 666 00:37:05,160 --> 00:37:09,960 Speaker 1: from our Bloomberg One newsroom in Washington. Celebrity doctor memit Oz, 667 00:37:10,000 --> 00:37:14,080 Speaker 1: who has Donald Trump's support, leads former Bridgewater Associates CEO 668 00:37:14,280 --> 00:37:17,640 Speaker 1: David McCormick by nine hundred two votes. That's enough to 669 00:37:17,680 --> 00:37:21,600 Speaker 1: trigger an automatic recount. Pennsylvania's Acting Secretary of State Lee 670 00:37:21,680 --> 00:37:25,320 Speaker 1: Chapman says previous recounts and similar type races in the 671 00:37:25,400 --> 00:37:28,680 Speaker 1: past have not changed the results of the elections. Counties 672 00:37:28,760 --> 00:37:31,040 Speaker 1: have to begin the recount by June one, and they 673 00:37:31,160 --> 00:37:34,719 Speaker 1: must be completed by June seven. In Washington, I'm Amy Morris, 674 00:37:34,760 --> 00:37:37,320 Speaker 1: Bloomberg Day Break. All right, Amy, thank you, and S 675 00:37:37,400 --> 00:37:40,480 Speaker 1: and P. Futures this morning are higher up eleven points down, 676 00:37:40,560 --> 00:37:43,920 Speaker 1: futures of a hundred two and Nasdaq futures are little changed. 677 00:37:44,200 --> 00:37:46,440 Speaker 1: Sure to head your latest local headlines, plus a check 678 00:37:46,480 --> 00:37:55,960 Speaker 1: of sports, and this is Bloomberg. Thanks Karen six and 679 00:37:56,000 --> 00:37:58,160 Speaker 1: seven on Wall Street Time to bring in Michael Barr 680 00:37:58,320 --> 00:38:00,200 Speaker 1: to find out what else is going on a New 681 00:38:00,280 --> 00:38:03,080 Speaker 1: York and around the world, John, thank you very much. 682 00:38:03,200 --> 00:38:06,160 Speaker 1: Investigators say they have yet to determine a motive for 683 00:38:06,400 --> 00:38:09,120 Speaker 1: mass shooting at a Texas grade school that left twenty 684 00:38:09,160 --> 00:38:12,560 Speaker 1: one dead. Governor Abbot said the only warning came in 685 00:38:12,640 --> 00:38:16,800 Speaker 1: a series of private Facebook messages sent Tuesday morning. He said, 686 00:38:17,280 --> 00:38:20,520 Speaker 1: I'm going to shoot my grandmother. The second post was 687 00:38:21,600 --> 00:38:25,400 Speaker 1: I shot my grandmother. The third post, maybe less than 688 00:38:25,480 --> 00:38:29,200 Speaker 1: fifteen minutes before arriving at the school, was I'm going 689 00:38:29,320 --> 00:38:33,120 Speaker 1: to shoot an elementary school. Governor Abbot called the eighteen 690 00:38:33,200 --> 00:38:36,760 Speaker 1: year old government a demented person. Meanwhile, in Houston, Texas 691 00:38:36,880 --> 00:38:40,440 Speaker 1: is preparing for protests of a national Rifle Association convention 692 00:38:40,520 --> 00:38:44,759 Speaker 1: beginning tomorrow. Former President Trump is expected to speak. New 693 00:38:44,840 --> 00:38:47,800 Speaker 1: York Governor Kafe Hokel is calling for raising the age 694 00:38:47,840 --> 00:38:51,480 Speaker 1: to twenty one for purchasing assault weapons. Vocal says she 695 00:38:51,560 --> 00:38:54,320 Speaker 1: wants to raise the legal purchasing age for a R 696 00:38:54,440 --> 00:38:57,879 Speaker 1: fifteen style rifles that's the same type of weapon used 697 00:38:57,960 --> 00:39:01,000 Speaker 1: in Tuesday's mass shooting in Texas had left twenty one 698 00:39:01,080 --> 00:39:04,880 Speaker 1: people dead, including nineteen children. We must harness set outrage 699 00:39:05,239 --> 00:39:08,880 Speaker 1: and that anger, and that discussed that there could be 700 00:39:09,000 --> 00:39:13,080 Speaker 1: someone with such wanted evil in their heart that they 701 00:39:13,120 --> 00:39:17,799 Speaker 1: would acquire and they are fifteen go to a schoolyard 702 00:39:17,920 --> 00:39:22,640 Speaker 1: after shooting their own grandmother and opening up an innocent 703 00:39:22,800 --> 00:39:26,120 Speaker 1: children and teachers. Governor Hocal says, I don't want eighteen 704 00:39:26,200 --> 00:39:28,279 Speaker 1: year olds to have guns, at least not in the 705 00:39:28,320 --> 00:39:31,400 Speaker 1: state of New York. A man accused of randomly murdering 706 00:39:31,440 --> 00:39:34,160 Speaker 1: a fellow passenger on a New York City subway train 707 00:39:34,239 --> 00:39:37,400 Speaker 1: has made his first court appearance. His lawyer urged the 708 00:39:37,600 --> 00:39:40,680 Speaker 1: judge and the public not to rush the judgment. Andrew 709 00:39:40,760 --> 00:39:43,400 Speaker 1: Abdulla was ordered held without bail on the death of 710 00:39:43,480 --> 00:39:46,160 Speaker 1: forty eight year old Daniel Enriquez, who was on his 711 00:39:46,280 --> 00:39:48,800 Speaker 1: way to a Sunday brunch in Manhattan when he was shot. 712 00:39:49,360 --> 00:39:52,920 Speaker 1: Democrat Antonio Delgado has been sworn in as New York's 713 00:39:52,920 --> 00:39:56,840 Speaker 1: Lieutenant Governor, becoming the state's first person of Latino heritage 714 00:39:57,000 --> 00:39:59,880 Speaker 1: to serve in the state wide office. Delgado takes a 715 00:40:00,080 --> 00:40:03,000 Speaker 1: ver for Brian Benjamin, who resigned following his arrest in 716 00:40:03,040 --> 00:40:07,000 Speaker 1: April for federal corruption charges. Global News twenty four hours 717 00:40:07,080 --> 00:40:10,200 Speaker 1: a day on air and on Bloomberg Quick Take, powered 718 00:40:10,239 --> 00:40:13,040 Speaker 1: by more than twenty seven hundred journalists and analysts more 719 00:40:13,080 --> 00:40:17,280 Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg, John, Michael, 720 00:40:17,360 --> 00:40:23,239 Speaker 1: thank you. And it's now six ten on Wall Street. 721 00:40:23,280 --> 00:40:28,080 Speaker 1: Time for the Bloomberg Sports Update. And here's Scott Seidenberg. 722 00:40:28,440 --> 00:40:31,040 Speaker 1: Thanks John. The Mets belf to the Giants yesterday. Rookie 723 00:40:31,120 --> 00:40:34,400 Speaker 1: Thomas Szapucky was roughed up in his first big league start. 724 00:40:34,600 --> 00:40:37,400 Speaker 1: Evan Mongoria homer twice, Jock Peterson one team for the 725 00:40:37,480 --> 00:40:40,080 Speaker 1: fourth time in two games as the Giants beat the 726 00:40:40,120 --> 00:40:43,800 Speaker 1: Mets nine three. For Zapucky, he allowed nine runs on 727 00:40:44,040 --> 00:40:46,759 Speaker 1: seven hits and three walks in just an inning and 728 00:40:46,840 --> 00:40:50,720 Speaker 1: a third, a much different result for Yankees rookie pitcher J. P. Sears, 729 00:40:50,960 --> 00:40:54,680 Speaker 1: making his first big league start. Sears tossed five scoreless 730 00:40:54,719 --> 00:40:57,960 Speaker 1: innings as the Yankees blank the Orioles to nothing. Hockey tonight, 731 00:40:58,040 --> 00:41:01,960 Speaker 1: Game five between the Rangers and her Kings from Carolina here, 732 00:41:02,000 --> 00:41:04,440 Speaker 1: said coach Gerard Glenn. We played them two wheel good 733 00:41:04,440 --> 00:41:06,440 Speaker 1: games in the building last week, and I know we 734 00:41:06,440 --> 00:41:07,960 Speaker 1: didn't meant with the win, but we played two good 735 00:41:07,960 --> 00:41:10,680 Speaker 1: AGGA games, So I gotta keep working, keep playing, and 736 00:41:10,840 --> 00:41:13,160 Speaker 1: it's gonna be a big game five and a NBA 737 00:41:13,239 --> 00:41:15,880 Speaker 1: The Celtics beat the Heat n eighty. There now one 738 00:41:15,960 --> 00:41:18,319 Speaker 1: win away from a trip to the NBA Finals. Tonight, 739 00:41:18,360 --> 00:41:20,359 Speaker 1: the Warriors look to close out the Mavericks in Game 740 00:41:20,440 --> 00:41:23,360 Speaker 1: five of the Western Finals. Tennis, at the French Open, 741 00:41:23,520 --> 00:41:26,960 Speaker 1: raining women's singles and doubles champ Barbara Cratchykova was upset 742 00:41:27,000 --> 00:41:29,439 Speaker 1: in the first round on Monday, and now she will 743 00:41:29,480 --> 00:41:32,080 Speaker 1: not defend her doubles title as the world's number two 744 00:41:32,120 --> 00:41:36,080 Speaker 1: players tested positive for COVID nineteen. Elsewhere, Raphael and Nadal 745 00:41:36,200 --> 00:41:39,040 Speaker 1: reached the three hundred Grand Slam match victories with his 746 00:41:39,160 --> 00:41:42,319 Speaker 1: second round win. Only Roger Federer with three sixty nine 747 00:41:42,320 --> 00:41:45,200 Speaker 1: and Novak Djokovic with three twenty five have more wins 748 00:41:45,520 --> 00:41:49,520 Speaker 1: at major tournaments. I'm scotts Edinburg with Bloomberg Sports, John, 749 00:41:50,440 --> 00:41:53,360 Speaker 1: and thanks a lot. Right now, as we look at futures, 750 00:41:53,719 --> 00:41:57,600 Speaker 1: they've turned green down. Futures up one hundred and fifteen points, 751 00:41:57,800 --> 00:42:01,240 Speaker 1: that's a four tense of eight percent now, SMP futures, 752 00:42:01,320 --> 00:42:04,160 Speaker 1: the E mini futures up twelve points, a three tens 753 00:42:04,200 --> 00:42:08,239 Speaker 1: of percent. Technica futures right now, they've turned green up 754 00:42:08,360 --> 00:42:11,880 Speaker 1: nine points right now. And as we look at the 755 00:42:12,080 --> 00:42:16,359 Speaker 1: volatility index, the VIX is slightly lower right now at 756 00:42:17,640 --> 00:42:21,399 Speaker 1: one Wall streets fear gage and the tenure yield, Yeah, 757 00:42:21,440 --> 00:42:25,399 Speaker 1: the US down one basis point, the benchmark at two 758 00:42:25,560 --> 00:42:37,360 Speaker 1: point seven two. You're listening the Bloomberg day Break. Bloomberg 759 00:42:37,440 --> 00:42:39,839 Speaker 1: weather reports Today, cloudy, maybe a shower of the high 760 00:42:39,920 --> 00:42:45,239 Speaker 1: seventy Tomorrow, cloud showers, thunderstorms, Saturday, showers and storms ending 761 00:42:45,480 --> 00:42:48,279 Speaker 1: during the morning. Miss is Bloomberg