WEBVTT - Bloomberg Daybreak: May 26, 2022 - Hour 2 (Radio) 0:00:01.960 --> 0:00:05.360 Markets, headlines and breaking news twenty four hours a day 0:00:05.440 --> 0:00:08.440 at Bloomberg dot Com, the Bloomberg Business apt and at 0:00:08.440 --> 0:00:18.840 Bloomberg Quicktape is a Bloombern Business lash and I'm Karen Moscow. 0:00:18.920 --> 0:00:21.480 In US dot Index futures are mixed this morning, we 0:00:21.520 --> 0:00:23.599 go to the first word breaking news downs for today's 0:00:23.640 --> 0:00:27.960 morning call. Here's Bill Maloney, Bill, good morning, Hey, good morning, Karen, 0:00:28.040 --> 0:00:30.360 Like you said you as features are trading mixed right now, 0:00:30.400 --> 0:00:32.600 with dout futures hired by seventy three point says if 0:00:32.640 --> 0:00:36.080 he's game six and as deck futures are down by seventeen. 0:00:36.520 --> 0:00:39.200 The US ten year old at two point seven two percent, 0:00:39.320 --> 0:00:42.160 Gold is down, oil is climbing, and bitcoin is lower 0:00:42.240 --> 0:00:45.360 by two percent. Shanghai rose half a percent overnight, while 0:00:45.440 --> 0:00:48.159 up markets are also in the green this morning and 0:00:48.280 --> 0:00:50.839 back in the US on the economic Fronday thirty GDP 0:00:51.080 --> 0:00:54.240 and initial job as claims after the bellas night, Snowflake 0:00:54.320 --> 0:00:58.240 reported said slower sales growth will continue and in videos 0:00:58.240 --> 0:01:02.320 says that Shina lockdowns hurt their forecast regarding earnings. This morning, 0:01:02.360 --> 0:01:04.720 look for a dollar General, Dollar Tree, and Macy's to 0:01:04.840 --> 0:01:07.399 report in the pre market and a deal News. Elon 0:01:07.560 --> 0:01:11.520 Musk boosted the aggregate equity commitment for Twitter to thirty 0:01:11.600 --> 0:01:14.080 three and a half billion. Wrapping things up, car to 0:01:14.160 --> 0:01:17.199 Health was cut the equator. Barkley's Lula Lemon raised overweight 0:01:17.240 --> 0:01:20.160 at Morgan Stanley and Kraft Times was downgraded to sell 0:01:20.600 --> 0:01:23.840 over at UBS Live from the First Breaking News desk 0:01:23.959 --> 0:01:26.160 on Boo Melody Care, great Bill, thank you and to 0:01:26.200 --> 0:01:28.560 hear live breaking news over here Bloomberg Time Squawk on 0:01:28.600 --> 0:01:31.440 your terminal s q U a w K. Also watching 0:01:31.520 --> 0:01:34.840 Southwest this morning after it raised its second quarter operating 0:01:34.880 --> 0:01:38.120 revenue growth forecast. That's a Bloomberg business flash. Now here's 0:01:38.160 --> 0:01:40.440 Michael Barr with more on less going on around the world. 0:01:40.560 --> 0:01:44.280 Muttle Karen, thank you very much. Across the country, law 0:01:44.480 --> 0:01:47.400 enforcement and school officials are ramping up security in the 0:01:47.400 --> 0:01:50.840 wake of the Taxis shooting and left nineteen school children 0:01:50.920 --> 0:01:55.080 and two teachers dead. The retired police officer killed while 0:01:55.240 --> 0:01:58.120 trying to stop the gunman in a racist attack at 0:01:58.120 --> 0:02:01.760 a Buffalo supermarket was laid to asked. Aaron Salter was 0:02:01.840 --> 0:02:05.760 posthumously promoted to lieutenant and awarded the Medal of Honor. 0:02:06.320 --> 0:02:09.440 Another big planeload of baby formula has arrived in the 0:02:09.520 --> 0:02:13.280 United States to help ease the shortage worried parents are facing. 0:02:13.639 --> 0:02:17.120 It will head to an Allentown, Pennsylvania distribution center. In 0:02:17.240 --> 0:02:20.320 the NBA Playoffs, the Celtics beat the Heat. Boston is 0:02:20.360 --> 0:02:23.520 now a game away from advancing to the finals. In baseball, 0:02:23.560 --> 0:02:26.520 the Yankees shut out the Orioles to zip. The Giants 0:02:26.600 --> 0:02:29.000 beat the Mets, the Red Sox lost the Nationals. And 0:02:29.200 --> 0:02:32.320 A's one Global News twenty four hours a day on 0:02:32.520 --> 0:02:35.959 air and on Bloomberg Quicktake, powered by more than twenty 0:02:36.040 --> 0:02:38.720 seven hundred journalists and analysts in more than a hundred 0:02:38.720 --> 0:02:41.360 twenty countries. I'm Michael Barr, and this is Bloomberg. Karen, 0:02:41.560 --> 0:02:44.160 all right, Michael Barr, thank you. It is six nine 0:02:44.200 --> 0:02:46.280 on Wall Street. We turned to news in science and 0:02:46.360 --> 0:02:49.800 Technology now with a Bloomberg and j I T STEM Report, 0:02:50.200 --> 0:02:53.040 brought to you by New Jersey Institute of Technology, one 0:02:53.080 --> 0:02:56.840 of the nation's leading polytechnic universities and a top military 0:02:56.919 --> 0:02:59.280 friendly school. Learned more at n j I T DOT 0:02:59.360 --> 0:03:01.760 E D Use Lash of Veterans and now here's it's 0:03:01.800 --> 0:03:05.440 making news in science, technology, engineering, and math. Countries are 0:03:05.480 --> 0:03:09.160 redeveloping abandoned crop lands at an unsustainable rate, according to 0:03:09.240 --> 0:03:12.280 our report published in the journal Science Advances. The new 0:03:12.360 --> 0:03:15.240 studies says abandoned crop lands need to be left alone 0:03:15.320 --> 0:03:19.079 to regrow forests and reconstitute ecosystems. If they are put 0:03:19.160 --> 0:03:22.079 to use too soon, it jeopardizes the lands contributions to 0:03:22.160 --> 0:03:26.720 reducing CEO. Two Boeing star Liner commercial space vehicle returned 0:03:26.720 --> 0:03:29.640 from a six days sojourned to the International Space Station. 0:03:30.040 --> 0:03:32.640 It's an advance in the company's effort to provide now 0:03:32.760 --> 0:03:36.120 SO with a second option for transporting astronauts. The n 0:03:36.160 --> 0:03:39.360 Crede Starliner separated from the I s S early Wednesday 0:03:39.440 --> 0:03:42.000 and touchdown at four or forty nine pm local time 0:03:42.280 --> 0:03:45.600 at White Sands Missile Range in southern New Mexico. And 0:03:45.680 --> 0:03:49.400 the UK's antitrust watchdogs started a new investigation into Google. 0:03:49.720 --> 0:03:53.160 The investigation comes over suspicions the company may have abused 0:03:53.200 --> 0:03:56.160 its dominant position across its ad tech that goes to 0:03:56.240 --> 0:03:59.280 the heart of its business model. That's the Bloomberg and J. A. T. 0:03:59.440 --> 0:04:02.880 Stemra Poor John. All right, thanks Karen. We are lying 0:04:02.920 --> 0:04:06.240 for the Bloomberg Interact Broker Studios. It is now six 0:04:06.360 --> 0:04:09.280 fifty one on one Street time to check what's going 0:04:09.360 --> 0:04:11.560 on in d C. Some of the top stories in 0:04:11.640 --> 0:04:16.320 our nation's capital include President Bladen urging action on guns, 0:04:16.480 --> 0:04:19.760 as the signs in order on police reform Chuck Schoomer, 0:04:19.839 --> 0:04:24.880 she says slim prospects for gun legislation anytime soon. And 0:04:25.080 --> 0:04:27.560 the former president says he's going to attend the n 0:04:27.680 --> 0:04:31.400 r A Houston event after the Taxis shootings. And then 0:04:31.440 --> 0:04:36.120 there's the Pennsylvania Republican Senate race going into an automatic recount. 0:04:36.200 --> 0:04:38.160 Let's take a deeper dive into some of these stories 0:04:38.400 --> 0:04:43.159 this morning with Bloomberg TV and Radio Washington correspondent Amory 0:04:43.279 --> 0:04:47.600 hord durn A, Marie, how are you? How are you? 0:04:48.160 --> 0:04:52.760 Very good? Well, I think under the circumstances, the president 0:04:52.960 --> 0:04:56.640 urging action on guns, let's take a deeper dive. What 0:04:57.080 --> 0:05:00.320 what's he talking about? What are the prospects anything's actually 0:05:00.360 --> 0:05:05.040 gonna happen. Yeah, it's been a really tough twenty four 0:05:05.080 --> 0:05:08.760 hours for the nation. And the President didn't me explicitly 0:05:08.800 --> 0:05:11.360 say what needs to be done, but just again in 0:05:11.640 --> 0:05:17.560 vote his bully pulpit saying something has to be done 0:05:17.600 --> 0:05:20.160 in terms of this country not have a backbone is 0:05:20.200 --> 0:05:22.680 standing up to the gunlock. Is that the president's words were, 0:05:23.200 --> 0:05:26.880 when you actually look at real changes, you know, we 0:05:27.080 --> 0:05:31.080 have been down this road so many times, um, you know, 0:05:31.200 --> 0:05:35.120 most notably twelve after the Sandy Hook massacre of that 0:05:35.320 --> 0:05:40.599 elementary school. And right now, the one issue in Congress 0:05:40.680 --> 0:05:44.679 that potentially could be a starting point to buipartisan support 0:05:44.960 --> 0:05:48.599 are these red flag laws, which basically allows a family 0:05:48.680 --> 0:05:51.280 member or an individual from the law enforcement to go 0:05:51.400 --> 0:05:54.920 to the court and ask them to temporarily remove guns 0:05:55.360 --> 0:05:59.240 from an individual that is unstable and could be deemed 0:05:59.400 --> 0:06:03.880 a dangered society. So this has come bipartisan support. It 0:06:04.480 --> 0:06:08.880 is a law in nineteen country states, including Washington, d C. 0:06:09.560 --> 0:06:11.960 Many of these states took up these red flag logs 0:06:12.320 --> 0:06:16.000 laws after the Parkland shooting at that high school in Parkland, Florida. 0:06:16.839 --> 0:06:19.520 The issue is send a coon yesterday a little bit 0:06:19.600 --> 0:06:22.240 more pessimistic, saying, you know, even if it got through 0:06:22.240 --> 0:06:24.800 the House, even if there's some biparson support in the Senate, 0:06:25.400 --> 0:06:27.800 you still have to get ten Republican senators, and he's 0:06:27.800 --> 0:06:30.960 not sure you'll get all get enough to pass this 0:06:33.640 --> 0:06:36.480 is the President is going to head to Texas at 0:06:36.560 --> 0:06:40.240 some point. Yeah, he said, he in the first lady 0:06:40.279 --> 0:06:42.600 will be heading to Texas. Actually she was at in 0:06:42.640 --> 0:06:44.520 the vent yesterday as well, and she said, of course 0:06:44.560 --> 0:06:47.600 will go there. And John, you know, this is I 0:06:47.640 --> 0:06:50.360 think moving a child is quite personal for this president 0:06:50.960 --> 0:06:53.520 in the sense that Mr he that happened to him twice. 0:06:54.040 --> 0:06:56.640 He lost his adult son Bow, but he lost a 0:06:57.520 --> 0:07:02.200 very young baby daughter in a our accidents. So this 0:07:02.360 --> 0:07:06.240 is something I think the President inter internalizes the loss 0:07:06.240 --> 0:07:10.000 of the child. But obviously this massacre, he wants to 0:07:10.040 --> 0:07:13.840 be able to keep greet TV families and show that 0:07:13.920 --> 0:07:17.600 he can with them. Okay, Um. The n r A 0:07:17.720 --> 0:07:21.680 is still going ahead with its Houston events after the 0:07:22.120 --> 0:07:26.400 Texas shootings, and the list of attendees and speakers will 0:07:26.480 --> 0:07:30.120 include the former president and it looks like the messages 0:07:30.240 --> 0:07:33.800 already being home that well, this is the Democrats fault 0:07:33.920 --> 0:07:39.920 because they have failed to tackle mental health issues. Yes, 0:07:40.000 --> 0:07:44.239 it depends who you ask in Washington how you should 0:07:44.280 --> 0:07:48.560 approach the shootings. That really seems that only America deals 0:07:48.640 --> 0:07:53.800 with it, and the publicans will say this is a 0:07:53.840 --> 0:07:57.720 mental health issue. That yesterday as well and after the 0:07:57.800 --> 0:08:01.400 President's plans, former President don try plans and saying at 0:08:01.440 --> 0:08:05.240 the n Rights Animal meeting in Houston this weekend, he 0:08:05.400 --> 0:08:08.720 says American needs real solutions, real leadership in this moment moment, 0:08:08.840 --> 0:08:13.160 not politicians and partisanship. It's another part of the debate. John, 0:08:13.720 --> 0:08:16.320 A lot of Republicans you said this yesterday was Governor 0:08:16.400 --> 0:08:19.440 Abbott as he had beata or rooke him as he 0:08:19.520 --> 0:08:23.120 was speaking, saying it's not time to make this political. 0:08:23.560 --> 0:08:26.840 But Democrats say, this is exactly the right time. We 0:08:26.960 --> 0:08:29.200 don't want to become themb to this, we don't want 0:08:29.240 --> 0:08:33.240 to move past this. So this is going to be, uh, 0:08:33.320 --> 0:08:36.280 you know, a fiery n R A moment given is 0:08:36.480 --> 0:08:39.160 just four hours away from where this shooting in this 0:08:39.240 --> 0:08:43.360 elementary school took place. Hey, Emory, from your perspective down 0:08:43.559 --> 0:08:46.800 in the nation's capital, does this move the needle at 0:08:46.840 --> 0:08:50.079 all in terms of issues that will shape them in 0:08:50.200 --> 0:08:53.559 term elections. It's a good question. I don't think we 0:08:53.720 --> 0:08:56.520 know just yet. I think this was the Democrats would 0:08:56.600 --> 0:08:59.760 like it to. The President said a number of times 0:08:59.800 --> 0:09:02.760 in to turn pamet action. You know, is that a 0:09:03.520 --> 0:09:06.640 rallying call for Democrats to go out to vote. I 0:09:06.720 --> 0:09:09.599 think the Democrats want to use this also the potential 0:09:09.720 --> 0:09:13.679 of row Wee Wade being overturned in June. Uh. The 0:09:13.840 --> 0:09:16.520 issue is the Republicans are really going to want to 0:09:16.559 --> 0:09:20.760 hammer home the fact that consumer prices are at decades high. 0:09:21.000 --> 0:09:24.839 We have very high inflation, deathlete prices, growth, rebuild, et cetera. 0:09:25.440 --> 0:09:28.839 But there is a potential for some people to change 0:09:29.080 --> 0:09:31.960 take some table issues like that and actually go out 0:09:32.040 --> 0:09:36.400 and vote potentially on abortion right, but potentially on gun restation. 0:09:37.000 --> 0:09:38.960 If I just want to wrap up and hit hit 0:09:39.040 --> 0:09:42.719 this one quickly, the what's the update with the Pennsylvania 0:09:43.400 --> 0:09:48.360 primary race? Good questions too close to call still, so 0:09:48.600 --> 0:09:51.400 it goes into an auto Actually there's a Pennsylvania law 0:09:51.480 --> 0:09:55.680 that requires an automatic recount um when it is this close. 0:09:56.280 --> 0:10:00.599 So t P D John Okay, I appreciate goods and 0:10:00.679 --> 0:10:04.319 talk to you. Bloomberg TV and Radio Washington correspondent and 0:10:04.559 --> 0:10:07.520 Red Hordern apologize for the line there. That's a little 0:10:07.559 --> 0:10:10.640 sketchy anyway. Um. You can read more about these stories 0:10:10.679 --> 0:10:13.480 in Bloomberg dot com or Bloomberg terminal reminder. You can 0:10:13.559 --> 0:10:17.920 follow all the latest Bloomberg Radio in Washington, d C. 0:10:18.120 --> 0:10:22.680 That's Bloomberg at one oh five point seven FM HD 0:10:22.840 --> 0:10:26.200 two and as we look a hand to the cash 0:10:26.400 --> 0:10:29.320 open right now, the futures they are in the green. 0:10:29.480 --> 0:10:32.520 The down futures I've wanted to twenty seven points, that's 0:10:32.559 --> 0:10:34.400 a rise of fourth tens of a percent right now. 0:10:34.640 --> 0:10:37.520 S and P futures fourteen points higher. That's a fourth 0:10:37.520 --> 0:10:39.959 tense of re percent. And that as day futures of 0:10:40.080 --> 0:10:42.840 twelve points, that is up a tenth of a percent. 0:10:43.000 --> 0:10:47.320 Apple right now down one percent among the most actively 0:10:47.400 --> 0:10:51.120 traded shares along with in video shares, they are down 0:10:51.520 --> 0:10:54.400 five percent in the pre market, and the ten year 0:10:54.520 --> 0:10:58.319 yield in the US the benchmark to seventy three that 0:10:58.480 --> 0:11:02.360 is now one pasis point and just ahead. Bloomberg Surveillance 0:11:02.880 --> 0:11:07.000 Live from the World Economic Forum Dono, Switzerland with Tom 0:11:07.120 --> 0:11:11.680 Keane and Lisa prim Woods. Ever Karen Moscow, I'm John Tucker. 0:11:11.880 --> 0:11:18.120 Have you've been listening to Bloomberg Day Bread broadcasting live 0:11:18.280 --> 0:11:22.239 from the Bloomberg Interactive Broker Studio in New York. Bloomberg 0:11:22.240 --> 0:11:26.319 E Living Freedom to Washington, d C. Bloomberg to Boston, 0:11:26.440 --> 0:11:29.839 Bloomberg one oh six one to San Francisco, Bloomberg nine 0:11:29.920 --> 0:11:32.840 sixty to the Country. Sirius XM Chad A one ninet 0:11:33.120 --> 0:11:36.600 and around the globe, the Bloomberg Business and Bloomberg Radio 0:11:36.760 --> 0:11:45.640 dot com. This is Bloomberg Daybreak. He had six thirty 0:11:45.679 --> 0:11:48.040 on Wall Street. Good morning, I'm John Tucker and I'm 0:11:48.120 --> 0:11:50.640 Karen Moscow. We're just about three hours away from the 0:11:50.679 --> 0:11:52.839 open of US trading. Time for the five things you 0:11:52.920 --> 0:11:55.040 need to notice start your day. Brought to you by 0:11:55.559 --> 0:11:59.920 Interactive Brokers. Investment Advisors switched to Interactive Brokers for lois 0:12:00.120 --> 0:12:05.679 caused global trading and turnkey custody solutions no ticket charges 0:12:05.720 --> 0:12:08.040 and no complex of your interests at ibk R dot 0:12:08.080 --> 0:12:12.120 com slash r i A first, US futures are higher, 0:12:12.160 --> 0:12:15.520 at least SNP futures this after yesterday saw the SMP 0:12:15.679 --> 0:12:18.280 five climb about one percent. We've been up and down 0:12:18.320 --> 0:12:20.720 all week as traders assess the path of FED policy. 0:12:21.040 --> 0:12:23.680 Jane Foley has had of f X strategy at Rabbo Bank. 0:12:24.080 --> 0:12:25.480 I think the Fed is more likely to go the 0:12:25.559 --> 0:12:28.079 full monthy. They need to get their credibility back. You know, 0:12:28.160 --> 0:12:30.319 there's been so many accusations over the last few months 0:12:30.360 --> 0:12:32.280 that they have behind the curve that they could affected 0:12:32.400 --> 0:12:35.080 sooner on inflation. Even some of their own have admitted 0:12:35.080 --> 0:12:37.400 that perhaps Fish would have started to hike before they 0:12:37.480 --> 0:12:40.800 did at the end of last to keep demand and check. 0:12:41.240 --> 0:12:44.840 Jane Foley and Robbo Bank seized dollar strength. Continuing minutes 0:12:44.840 --> 0:12:47.200 from the latest FED meeting show officials looking to raise 0:12:47.240 --> 0:12:49.480 interest rates by fifty basis points at each of their 0:12:49.520 --> 0:12:52.400 next two decisions. See It's time to buy the different stocks. 0:12:52.559 --> 0:12:55.200 At least that's according to strategist at City Group, who 0:12:55.240 --> 0:12:59.000 say shares in Europe and emerging markets are most attractive. 0:12:59.240 --> 0:13:02.720 Cities very mark a checklist currently warning on just six 0:13:02.840 --> 0:13:06.760 of eighteen red flags. That compares to thirteen red flags 0:13:06.840 --> 0:13:09.800 before the two thousand eight financial crisis. I mean also 0:13:09.880 --> 0:13:12.200 a fresh US from Apple. Sources say the company plans 0:13:12.240 --> 0:13:14.880 to keep iPhone production flat this year as the environment 0:13:14.960 --> 0:13:18.000 turns challenging for the smartphone industry. At the same time, 0:13:18.040 --> 0:13:20.439 Apple as boosting pay for its workers. The company is 0:13:20.520 --> 0:13:23.400 raising US salaries by ten percent or more as it 0:13:23.480 --> 0:13:26.720 faces a tight labor market and efforts to unionize. Shares 0:13:26.720 --> 0:13:29.400 Her down more than one percent and Twitter gaining and 0:13:29.440 --> 0:13:32.560 pre market trading after Elon musk change plans to fund 0:13:32.600 --> 0:13:35.439 he Is acquisition. Is no longer looking to use a 0:13:35.600 --> 0:13:38.160 margin loan for his forty four billion dollar purchase of 0:13:38.240 --> 0:13:41.160 the social media Covity and boom Bridge. Nita Young is 0:13:41.240 --> 0:13:43.680 here live with the story this morning. Good morning, Rinita, 0:13:43.720 --> 0:13:47.040 Good morning John. A regulatory filing shows Elon Musk is 0:13:47.080 --> 0:13:50.280 providing an additional six point to five billion dollars in 0:13:50.400 --> 0:13:53.800 equity financing to buy out Twitter. That will increase the 0:13:53.920 --> 0:13:56.960 size of the deal's equity component to thirty three point 0:13:57.040 --> 0:13:59.840 five billion dollars, and it's enough to eliminate the mar 0:14:00.040 --> 0:14:02.839 and loan. This new structure could reduce the risk of 0:14:02.880 --> 0:14:06.080 the deal for both Musk and his lenders, particularly given 0:14:06.120 --> 0:14:09.480 the recent slide in Tesla stock price. Shares of Tesla 0:14:09.600 --> 0:14:13.400 have shrunk about forty since Musk first announced his stake 0:14:13.480 --> 0:14:16.360 and Twitter in early April. Live in New York. I'm 0:14:16.400 --> 0:14:18.920 Renita Young, Bloomberg depriak. All right, we need to thank you. 0:14:19.000 --> 0:14:21.680 This update brought to you by Interactive Brokers Simple IBKR 0:14:21.720 --> 0:14:24.480 Global Trader app deposit in your local currency and trade 0:14:24.520 --> 0:14:26.840 stocks in the US, Europe and Asia. Start your free 0:14:26.880 --> 0:14:33.400 trial at ibk r dot com Slash Global Trader. Thanks 0:14:33.480 --> 0:14:36.000 Karen's sixty three on Wall Street and let's bring in 0:14:36.040 --> 0:14:38.200 Michael barn now to tell us what else is going 0:14:38.280 --> 0:14:41.280 on in New York hand around the world, John, Thank you, sir. 0:14:41.440 --> 0:14:44.320 Texas Governor Greg Abbott says a number of concerning social 0:14:44.400 --> 0:14:47.360 media posts were discovered by the gunman moments before the 0:14:47.480 --> 0:14:52.040 rampage began and rob elementary school in Uvalde. Twenty one 0:14:52.120 --> 0:14:54.960 people died before the eighteen year old gunmen was killed 0:14:55.000 --> 0:14:58.520 by law enforcement. Governor Rabbit brushed to side calls for 0:14:58.760 --> 0:15:02.120 strict gun legislature and noting that major cities have their 0:15:02.160 --> 0:15:05.440 own gun laws in place, but they don't work, and 0:15:05.680 --> 0:15:08.600 we need to realize that people who think that, well, 0:15:08.680 --> 0:15:12.280 maybe if we could just implement tougher gun laws, it's 0:15:12.280 --> 0:15:15.200 going to solve it. Chicago, in l A and New 0:15:15.280 --> 0:15:20.880 York disproved that thesis. During the news briefing, Data O'Rourke, 0:15:20.920 --> 0:15:24.360 who is running against Abbot for governor, interrupted the news 0:15:24.440 --> 0:15:28.760 conference saying this shooting was totally predictable. He was escorted 0:15:28.800 --> 0:15:32.040 out but told reporters outside enough is enough. The governor 0:15:32.080 --> 0:15:34.520 talks about mental health. It is insane that we allow 0:15:34.560 --> 0:15:36.400 an eighteen year old to go in and buy an 0:15:36.480 --> 0:15:38.600 a R fifteen. What the hell did we think he 0:15:38.760 --> 0:15:41.360 was gonna do with that data. O'Rourke says, this is 0:15:41.440 --> 0:15:44.320 on all of us. New York Governor Kathy Hoco wants 0:15:44.400 --> 0:15:47.560 to raise the age for purchasing the type of firearms 0:15:47.720 --> 0:15:51.640 used in recent mass shootings in Buffalo and Texas. Governor 0:15:51.680 --> 0:15:54.400 Hoco says she wants to raise the legal purchasing age 0:15:54.520 --> 0:15:58.680 for a R fifteen style rifles to one. The governor 0:15:58.760 --> 0:16:01.680 says she held an emergency meeting with state police and 0:16:01.800 --> 0:16:05.960 I said, I want state police patrols visiting our schools 0:16:06.400 --> 0:16:10.280 doing daily check ins every single day from today to 0:16:10.360 --> 0:16:12.920 the end of the school year. Governor Hucole, a man 0:16:13.000 --> 0:16:15.840 accused of randomly murdering a fellow passenger on the New 0:16:15.920 --> 0:16:19.240 York City subway train, was denied bail. During his first 0:16:19.320 --> 0:16:22.720 court appearance, Andrew Abdulla's lawyer urged the judge and the 0:16:22.800 --> 0:16:26.040 public not to rush to judgment. On the second anniversary 0:16:26.080 --> 0:16:28.720 of the death of George Floyd, President Biden signed an 0:16:28.800 --> 0:16:33.600 executive order to address police accountability. The executive order raises standards, 0:16:34.280 --> 0:16:38.400 bans chokeholes, restricts, no knock warrants, titans, use of force policies, 0:16:38.840 --> 0:16:42.400 emphasized de escalation. I'm duty to the interview to stop 0:16:42.440 --> 0:16:46.080 another offs from using the executive force. President Biden also 0:16:46.200 --> 0:16:49.000 criticized the Senate for not passing reforms and the George 0:16:49.040 --> 0:16:52.200 Floyd Justice in Policing Act. Eight of the ten largest 0:16:52.240 --> 0:16:55.480 cities in the US lost population during the first year 0:16:55.560 --> 0:16:58.680 the pandemic. The investiments released today by the U S 0:16:58.760 --> 0:17:01.880 ins His Bureau show own Phoenix in San Antonio gained 0:17:01.960 --> 0:17:06.199 new residents from one. New York led the way, losing 0:17:06.280 --> 0:17:10.040 more than three hundred five thousand residents were about three 0:17:10.160 --> 0:17:14.359 point five percent of its population. In its Global News 0:17:14.480 --> 0:17:16.800 twenty four hours a day on air and on Bloomberg 0:17:16.840 --> 0:17:19.760 Quick Take, powered by more twenty seven hundred journalists analysts 0:17:19.760 --> 0:17:21.879 more than a hundred twenty countries. I'm Michael barn This 0:17:21.960 --> 0:17:29.600 is Bloomberg, John, Michael. Thank yous now six thirties, six songs, 0:17:29.600 --> 0:17:32.320 Wall Street Time down for the Blueberg Sports Update AD. 0:17:32.520 --> 0:17:36.159 Here's Scott Sidenberg. Good morning, John Rookie JP Sear has 0:17:36.240 --> 0:17:39.520 made his first big league start, tossing five scoreless innings 0:17:39.560 --> 0:17:42.280 as the Yankees blank the Orioles to nothing, both runs 0:17:42.320 --> 0:17:43.920 coming in the bottom of the fourth inning on a 0:17:44.040 --> 0:17:47.320 Miguel and Do Hars single and a throwing error. Prior 0:17:47.400 --> 0:17:49.600 to the game, The Yankees placed Gehan Carlos Stanton on 0:17:49.680 --> 0:17:51.920 the ten day I l Aaron Boone after the game, 0:17:52.000 --> 0:17:54.960 talked about the win with players stepping up. Yeah, I 0:17:55.000 --> 0:17:56.959 mean it. It's been a tough couple of days for us, 0:17:57.080 --> 0:17:59.840 just just with you know, some people going down and things, 0:18:00.000 --> 0:18:03.240 and really excited to see those guys step in and 0:18:03.320 --> 0:18:06.399 play key roles and help us get another series victory. 0:18:06.640 --> 0:18:09.440 It was a different story for the Mets Rookie starter 0:18:09.640 --> 0:18:12.440 Thomas Sapucky, who was roughed up in his first big 0:18:12.520 --> 0:18:16.360 league start. Evan Longoria homard twice. Jock Peterson went deep 0:18:16.400 --> 0:18:18.679 for the fourth time in two games as the Giants 0:18:18.800 --> 0:18:22.400 route the Mets nine three. Sabucky tag for all nine 0:18:22.520 --> 0:18:24.760 runs on seven hits and three walks in just an 0:18:24.800 --> 0:18:27.240 inning and a third, the Mets losing back to back 0:18:27.280 --> 0:18:30.920 games for just the first time since April tenth and eleven. 0:18:31.240 --> 0:18:33.920 Hockey tonight, it's Game five between the Rangers and the 0:18:34.000 --> 0:18:36.800 Hurricanes from Carolina, with the series tied at two games 0:18:36.840 --> 0:18:39.439 a piece. NBA, the Celtics are one win away from 0:18:39.480 --> 0:18:42.640 the NBA Finals after a night win over the Heat 0:18:42.720 --> 0:18:45.560 last night in Miami. Tonight, the Warriors look to close 0:18:45.600 --> 0:18:48.320 out the Mavericks in game five of the Western Finals. 0:18:48.560 --> 0:18:51.760 Tennis at the French Open, Rafael Nadal reached the three 0:18:51.840 --> 0:18:55.080 hundred Grand Slam match victories with his second round win, 0:18:55.480 --> 0:18:58.720 only Roger Federer with three sixty nine and Novak Djokovic 0:18:58.840 --> 0:19:02.560 with three twenty five more wins at major tournaments. Um 0:19:02.640 --> 0:19:06.440 Scatt with Bloomberg Sports, John all right, thanks, Scott, is 0:19:06.520 --> 0:19:09.359 now all six thirty eight. Well Street, time to take 0:19:09.400 --> 0:19:11.040 a look at stocks, some of the names that are 0:19:11.080 --> 0:19:13.000 moving in the premarket, and for that we're joined by 0:19:13.240 --> 0:19:18.919 Bloomberg Radio and Television. Corresponded, Pretty Gupta. Oh look, Elon 0:19:19.000 --> 0:19:21.880 Musk is in the news again. I'm shocked. Yeah, let's 0:19:22.000 --> 0:19:23.560 let's start there and get it out of the way 0:19:23.600 --> 0:19:25.679 if we can t w t RS your ticker there 0:19:25.720 --> 0:19:27.960 for Twitter up five and a half percent in the 0:19:28.040 --> 0:19:30.440 pre market. Of course, has comes after billionaire Elon Musk 0:19:30.640 --> 0:19:33.520 dropped plans to partially fund his purchase of Twitter with 0:19:33.640 --> 0:19:36.320 the margin load tied to his Tessela's sake, and increase 0:19:36.359 --> 0:19:39.160 the size of the deal's equity component to thirty three 0:19:39.200 --> 0:19:41.480 point five billion. That's a lot of jargon for something 0:19:41.600 --> 0:19:45.760 very simple than they's just changing the financing a little bit. 0:19:45.960 --> 0:19:48.480 But the reason that shares are up, essentially is because 0:19:48.560 --> 0:19:51.320 it signals he's very serious about this deal, and that 0:19:51.480 --> 0:19:53.800 was a concern weighing on Twitter shares lately. The idea 0:19:53.880 --> 0:19:56.280 that if the deal is still on pause, is Elon 0:19:56.359 --> 0:19:58.520 Musk looking to pull out. He also tweeted last night 0:19:58.960 --> 0:20:01.680 about because turns around Twitter as well and things that 0:20:01.720 --> 0:20:03.560 should be changed. So once again there is this kind 0:20:03.600 --> 0:20:05.600 of flip flopping. But right now, the idea that he 0:20:05.800 --> 0:20:09.560 is looking to fund his purchase or actually making arrangements 0:20:09.600 --> 0:20:12.080 to do so, shows that perhaps he's serious about the deal. 0:20:12.119 --> 0:20:13.960 So t W t R is your taker up five 0:20:14.000 --> 0:20:16.280 and a half percent. But it's really the heavyweight tech 0:20:16.400 --> 0:20:18.520 names John that are catching my attention. You gotta talk 0:20:18.520 --> 0:20:20.359 about Apple. You have to talk about n Video because 0:20:20.400 --> 0:20:22.960 that is the macro story at play right now. Apple, 0:20:23.000 --> 0:20:25.720 in particular, A A p L is your taker down 0:20:25.920 --> 0:20:28.760 one point four percent. A report coming out saying that 0:20:28.760 --> 0:20:31.720 the tech giant is planning to keep iPhone production roughly 0:20:31.840 --> 0:20:34.960 flat in two This is a huge deal because they, 0:20:35.080 --> 0:20:37.520 of course are increasing their minimum wage. So I think 0:20:38.640 --> 0:20:42.280 an hour as well. They're also looking to kind of 0:20:42.359 --> 0:20:45.000 deal with more margin pressures and things like that, increasing 0:20:45.040 --> 0:20:49.080 compensation given this kind of war for talent in Silicon Valley. 0:20:49.320 --> 0:20:53.119 So if you're not growing your over here at the 0:20:53.200 --> 0:20:55.960 Apple store right and it's it's everywhere, it's everywhere, the 0:20:56.040 --> 0:20:58.359 labor market is hitting them hard and there. If you 0:20:58.480 --> 0:21:01.320 don't have that increased production, then your margins are going 0:21:01.359 --> 0:21:03.560 to get compressed. And that's I think the fear the 0:21:03.640 --> 0:21:07.879 Apple retail union what I'm trying to figure out what 0:21:08.200 --> 0:21:11.800 you are as wrong? Girl, I worked in retail in 0:21:11.920 --> 0:21:14.680 high school. Man, I did not work in Apple stores, 0:21:14.720 --> 0:21:16.760 although I wish I had. I hear they pay well 0:21:16.880 --> 0:21:18.920 a A p L anyways down one point four percent. 0:21:19.000 --> 0:21:20.399 Let me throw one more at you here and the 0:21:20.520 --> 0:21:25.280 chips are down video but I like the chips segue 0:21:25.760 --> 0:21:27.760 n v D as your taker down five and a 0:21:27.800 --> 0:21:30.760 half percent. This is of course the heavyweight chipmaker giving 0:21:30.800 --> 0:21:33.520 a revenue forecast weaker than expected. They remember they are 0:21:33.560 --> 0:21:37.359 also dealing with this enormous demand up four chips, but 0:21:37.480 --> 0:21:40.440 because of those COVID nineteen lockdowns in China that disrupted 0:21:40.480 --> 0:21:43.840 production and transportation lines, they aren't necessarily able to capitalize 0:21:43.880 --> 0:21:47.200 on and therefore giving a revenue forecast that was weaker 0:21:47.320 --> 0:21:49.200 than expected. N v d A down five and a 0:21:49.200 --> 0:21:52.160 half percent. Are you off tomorrow? You're here now, I'm here, 0:21:52.240 --> 0:21:55.000 but I will be off next week. Okay, great, Bloomberg, 0:21:55.080 --> 0:21:58.320 We'll talk about that tomorrow instead of stocks. Bloomberg Radio 0:21:58.320 --> 0:22:02.320 and TV markets corresponded pretty gupta and as a whole 0:22:02.440 --> 0:22:06.200 doll Right now down futures up sixty one, SMP futures 0:22:06.200 --> 0:22:09.240 of five, the NAZAC futures all over the place this morning, 0:22:09.320 --> 0:22:13.920 right now, down seventeen points. You're listening the Bloomberg tap bread. 0:22:16.760 --> 0:22:22.400 Mostly cloudy later today, maybe shower the high temperature seventy Tomorrow, cloudy, showers, thunderstorms, 0:22:22.480 --> 0:22:25.639 high sent eighty Saturday, showers and storms in the morning 0:22:26.920 --> 0:22:34.080 to eighty. This is Bloomberg Markets, headlines and breaking news 0:22:34.240 --> 0:22:36.840