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

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Lisa Mateo. Here are the

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Speaker 3: top stories we're following today.

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Speaker 2: Lisa, we begin in Los Angeles, where tensions between police

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Speaker 2: and anti deportation demonstrators have stretched into a fourth night.

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Speaker 2: The Trump administration is escalating its response. It is mobilizing

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Speaker 2: seven hundred marines on top of the two thousand National

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Speaker 2: Guard troops that were activated over the weekend. LA Mayor

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Speaker 2: Karen Bass says the move doesn't make sense.

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Speaker 4: They're guarding the federal building here in downtown, and they're

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Speaker 4: guarding the Federal building in Westwood. That's what they're doing,

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Speaker 4: so they need marines on top of it. I don't

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Speaker 4: understand that. That's why I feel like we are part

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Speaker 4: of an experiment that we did not ask to.

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Speaker 5: Be a part of.

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Speaker 2: Now, the State of California is suing to try to

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Speaker 2: stop the deployments. Here's State Attorney General Rob Bonta.

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Speaker 6: The authority that the President say only allows for the

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Speaker 6: deployment of the National Guard by the president when there's

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Speaker 6: an invasion by a foreign nation, which there's not. When

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Speaker 6: there's a rebellion to overturn the leadership of the United

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Speaker 6: States of America.

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Speaker 2: Which there is not, and President Trump says activating the

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Speaker 2: guard was a great idea and he's back to comments

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Speaker 2: from White House borders Are Tom Holman, the California Governor

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Speaker 2: Gavin Newsom and other local leaders could be arrested if

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Speaker 2: they interfere with the response.

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Speaker 7: You can process if you want, you have that person,

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Speaker 7: I read right. But when you cross the line of

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Speaker 7: putting your hands on myself, sir, competing our enforcement operations

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Speaker 7: annoyingly harber cutsiel idealing we're ailing, that's a crime.

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Speaker 5: Borders Are.

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Speaker 2: Tom Holman was asked on CNN if Governor Newsom has

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Speaker 2: done anything to warrant arrest yet he said, quote, absolutely not.

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Speaker 3: And back in Washington, Nathan, debate continues over President Trump's

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Speaker 3: big tax and spending cut bill. House Speaker Mike Johnson

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Speaker 3: says he's trying to get Senate Republicans to do as

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Speaker 3: little as possible to change the forty one thousand dollars

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Speaker 3: cap on state and local tax deductions. House Republicans from

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Speaker 3: high tax states have threatened to block the bill if

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Speaker 3: the Senate waters down the write off, but no Senate

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Speaker 3: Republican is from a high tax state. Meanwhile, President Trump

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Speaker 3: is touting one small piece of the One Big, Beautiful

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Speaker 3: Bill savings accounts for babies.

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Speaker 8: For every US citizen born after December thirty first, twenty

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Speaker 8: twenty four. Before January first, twenty twenty nine, the federal

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Speaker 8: government will make a one time contribution of one thousand

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Speaker 8: dollars into a tax deferred account that will track the

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Speaker 8: overall stock market. In other words, it'll be pegged to

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Speaker 8: an index that we'll pick.

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Speaker 3: President Trump was joined at the White House by several

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Speaker 3: corporate executives. Dell CEO Michael Dell promised a dollar for

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Speaker 3: dollar match to the accounts for Dell employees, and Robin

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Speaker 3: Hood Market said it will provide technology and capital resources

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Speaker 3: for the initiative.

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Speaker 2: Lisa, let's turn down to the latest developments in trade

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Speaker 2: negotiations between the US and China. There continuing for a

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Speaker 2: second day in London. Both sides are looking to ease

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Speaker 2: tensions over rare earth supplies and tech exports. Treasury Secretary

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Speaker 2: Scott Bessett and Commerce Secretary Howard Ludnik have been leading

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Speaker 2: the US delegation. Ludnik says the talks have been fruitful.

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Speaker 2: President Trump is echoing that we are.

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Speaker 8: Doing well with China. China's not easy.

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Speaker 5: I think we're doing very well. They're over there now.

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Speaker 8: I'm only getting good reports.

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Speaker 2: The first day of talks lasted more than six hours,

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Speaker 2: the US signal that's willing to remove restrictions on some

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Speaker 2: tech exports in exchange for assurances that China is easing

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Speaker 2: limits on rare earth shipments, and the.

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Speaker 3: Trump administration making another sweeping move to reshape the federal government.

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Speaker 3: The Department of Health and Human Services is dismissing all

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Speaker 3: seventeen members of the committee that advises the government on vaccines.

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Speaker 3: Bloomberg's Amy Morris reports from Washington.

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Speaker 9: Health and Human Services Secretary Robert F. Kennedy Junior said

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Speaker 9: in an opinion piece in The Wall Street Journal that

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Speaker 9: quote a clean sweep is needed to re establish public

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Speaker 9: confidence in vaccine science, but public health officials call this

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Speaker 9: a blatantly political move that will further undermine trust in

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Speaker 9: vaccine safety. The group, known as the Advisory Committee on

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Speaker 9: Immunization Practices reviews the latest data and makes recommendations that

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Speaker 9: determine whether insurers cover shots, among other things. In Washington,

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Speaker 9: Amy Morris Bloomberg Radio Amy thanks President Trump's pict LEI.

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Speaker 9: The Commodity Futures Trading Commission goes before Senate confirmation hearing today.

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Speaker 9: Cryptolobbyist and former CFTC commissioner Brian Quinten's plans to tell

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Speaker 9: the Senate Agriculture Committee he is uniquely qualified to head

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Speaker 9: the derivatives Regulator as Congress considers giving it more authority

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Speaker 9: over digital assets. In prepared remarks, Quintens will say he

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Speaker 9: is well versed not just in policy issues that affect

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Speaker 9: farmers and ranchers who use futures to hedge price risks,

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Speaker 9: but in emerging technologies like blockchain and crypto.

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Speaker 3: We turn to the markets now, Nathan, Futures while they're

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Speaker 3: little change. As we head into Tuesday session, stocks in

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Speaker 3: the UK hit a record and in the US, Mark

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Speaker 3: Zuckerberg is making a major push into artificial intelligence at

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Speaker 3: meta platforms. Bloomberg's John Tucker joins us with the very

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Speaker 3: latest John sounds like a sci fi movie plot.

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Speaker 10: Yeah, it has everything, but an underground layer. Here Zuckerberg

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Speaker 10: recruiting for a secretive new team. He's got a pretty

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Speaker 10: audacious goal in mindly so he's trying to achieve Artificial

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Speaker 10: General Intelligence AGI. This is the idea that machines can

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Speaker 10: perform as well as humans. If Meta does achieve this milestone,

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Speaker 10: he could weave it into a range of AI tools.

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Speaker 10: He's personally going to hire a team of about fifty people.

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Speaker 10: This is called the Super Intelligence Group. Has already rearranged

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Speaker 10: the desk at the company's Menlo Park headquarters, so the

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Speaker 10: new staff is going to sit near him. Zuckerberg is

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Speaker 10: building this secret team in tandem with a planned multi

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Speaker 10: billion dollar investment in Scale AI. This is going to

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Speaker 10: be Meta's largest external investment to date. Zuckerberg is racing

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Speaker 10: against competitors like OpenAI and Google to become a market

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Speaker 10: leader for AI. To share is this morning pre market?

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Speaker 10: Little change in the New York I'm John Tucker, Bloomberg Radio.

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Speaker 5: All right, John, thank you.

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Speaker 2: Apple shares also a little change in the pre market

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Speaker 2: after the iPhone maker failed to ease concerns about its

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Speaker 2: position in AI. The shares fell more than one percent yesterday.

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Speaker 2: After the iPhone maker kicked off it's annual Worldwide Developers

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Speaker 2: conference in California. Apple did reveal a sweeping new software

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Speaker 2: redesigned called liquid Glass. It's an interface that is said

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Speaker 2: to unify the user experience across all devices, from iPhones

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Speaker 2: to MacBooks. Bloomberg's Ed Ludlow covered WWDC in Cooper Tina.

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Speaker 11: A lot of liquid glasses inspiration comes from the work

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Speaker 11: that app We're done with Vision Pro, you know, literally

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Speaker 11: the UI and UX of that experience using vision Pro,

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Speaker 11: the translucency of it. And so by making it uniform,

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Speaker 11: you know, having the same look across iPhone, mac iPad

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Speaker 11: os and Vision Pro and watch, you know, it just

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Speaker 11: makes you more familiar and I guess open to using

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Speaker 11: the full hardware suite of products.

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Speaker 2: Bloomberg's Ed Ludlow says. Also, as part of rebranding efforts,

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Speaker 2: Apple confirmed it will use years rather than version numbers

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Speaker 2: to identify its newest operating systems.

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Speaker 3: And Nathan a departure at Goldman Sachs, Aaron Arthur is

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Speaker 3: retiring after nearly three decades at the Wall Street Powerhouse.

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Speaker 3: Arthur is a partner in Goldman's Financial and Strategic Investors Group.

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Speaker 3: Within investment banking, He helped shape the bank's global financing

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Speaker 3: group and investment banking franchises. Time now for a look

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Speaker 3: at some of the other stories making news in New

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Speaker 3: York and around the world. For that, we're joined by

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Speaker 3: Bloomberg's Michael Barr.

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Speaker 5: Good morning, Michael, Good morning, Lisa.

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Speaker 12: New York authorities are sending a message to anyone thinking

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Speaker 12: about violent protests in the city. In a speech, New

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Speaker 12: York City Mayor Eric Adams called for protesters to remain

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Speaker 12: peaceful and warrened. Authorities will not accept violence and lawlessness.

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Speaker 4: The escalation of protests in Los Angeles over the last

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Speaker 4: couple of days is unacceptable.

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Speaker 5: It will not be tolerant if attempted in our city.

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Speaker 12: There were a series of smaller protests held in New

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Speaker 12: York yesterday at Trump Tower in Midtown Manhattan. About twenty

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Speaker 12: to twenty five protesters were arrested after they entered the lobby.

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Speaker 12: The protests come as violent demonstrations broke out in Los

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Speaker 12: Angeles in response to immigration raids across the area. Today

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Speaker 12: is New Jersey's primary day. Six Democrats and five Republicans

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Speaker 12: are running to succeed term limited Democratic governor Phil Murphy.

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Speaker 12: Democrats in the race include US Representatives Josh Gotdheimer and

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Speaker 12: Mikey Sheryl. Also running, Newark Mayor ros Barackup. New Jersey

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Speaker 12: City Mayor Steve Phillip, New Jersey Education Association President Sean Spiller,

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Speaker 12: and former State Senate President Steve Sweeney in the Republican primary,

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Speaker 12: former State Assemblyman Jack Cinderelli, State Senator John Bramnick, former

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Speaker 12: Inglewood Chief Cliffs Mayor Mario Kranjak, radio hosts Bill Spadia,

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Speaker 12: and general contractor Justin BARBERA tropical storm Barbara strengthened into

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Speaker 12: a hurricane off Mexico's coast, the first of the Eastern

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Speaker 12: Pacific hurricane season. Bloomberg Media Religius Craig Allen as the latest.

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Speaker 13: The tropical season is still fairly active off the Mexico

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Speaker 13: coastline in the Pacific, and we do have Barbara, who

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Speaker 13: was the first hurricane of the season. Barbara had seventy

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Speaker 13: five mile per hour wins for about twelve hours or so,

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Speaker 13: but now has weakened and will continue to weaken about

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Speaker 13: two hundred miles off the central Mexico coastline. There will, however,

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Speaker 13: be rough surf and dangerous rip currents along the vacation

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Speaker 13: resorts all up and down the west coast of Mexico.

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Speaker 13: Bloomberg Media Religius, Craig Allen, Global News twenty four hours

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Speaker 13: a day and whenever you want it with Bloomberg News Now,

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Speaker 13: I'm Michael Barron.

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Speaker 12: This is Bloomberg Lisa.

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Speaker 3: Thank you, Michael Bie now for our Bloomberg Sports update

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Speaker 3: that's brought to you VI Rushing Bank. For that, we

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Speaker 3: bring in John stash Hour.

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Speaker 1: Good morning, John, Good morning Lisa. First two Stanley Cup

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Speaker 1: Final games went to overtime. The Panthers and Oilers split

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Speaker 1: down the series move to Florida in Game three was

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Speaker 1: a Panthers rat Brad Marshan who scored the game winner

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Speaker 1: and Edmonton scored fifty six seconds in the lead was

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Speaker 1: three to one in the second period, and.

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Speaker 14: Then Katschuk in against kling Bird puck play to the

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Speaker 14: line and.

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Speaker 9: It's taken away, up, break away.

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Speaker 14: The long story, it hands it on Bennett in.

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Speaker 9: Bennetts top shelf.

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Speaker 10: Of the Panthers take up for one lead with twelve

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Speaker 10: thirty four to go here in the second what a

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Speaker 10: shift per playoffs.

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Speaker 5: Sam, Panthers Radio.

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Speaker 1: Sam Bennett had scored fourteen playoff goals, that's four more

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Speaker 1: than anyone else. They added two more in the third,

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Speaker 1: both on power play. The final was six to one.

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Speaker 1: Florida leads the series two to one. Also from hockey,

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Speaker 1: TJ Oshe retiring at age thirty eight after sixteen seasons,

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Speaker 1: not a surprise.

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Speaker 5: Injuries kept him from playing this past season.

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Speaker 1: Os She played a big part in the Capitols winning

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Speaker 1: the Stanley Cup. T eighteen, Mets and the Yankees were off.

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Speaker 1: There were four extra inning games at Fenway. The Red

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Speaker 1: Sox tied the Rays in both the ninth and tenth,

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Speaker 1: but Tampa Bay onon ten eight.

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Speaker 5: In eleven, it was the major league debut for the Socks.

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Speaker 5: Top prospect Roman.

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Speaker 1: Anthony recently hit a home run of the Miners that

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Speaker 1: went four hundred and ninety seven feet. First game in Boston,

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Speaker 1: he went over four the Phillies end of the five game,

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Speaker 1: losing three. Scored twice in the eleventh, beat the Cubs

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Speaker 1: four to three. The Dodgers began a big series in

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Speaker 1: San Diego, winning eight to seven and ten, and Arizona

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Speaker 1: beat Seattle on a Joshnaeler walk off grand slam the

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Speaker 1: eleventh inn. It's the Mets and Nationals Tonight. Mets are

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Speaker 1: twenty four and seven at City Field. Yankees are in

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Speaker 1: Kansas City. The Yanks trying to avoid a third loss.

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Speaker 5: In a row.

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Speaker 1: They gave up twenty one runs in those last two

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Speaker 1: games in Boston. Running Back Nick Chubb, after seven seasons

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Speaker 1: in Cleveland injury rid of the last two, has signed

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Speaker 1: with Houston.

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Speaker 5: John Stashawer Bloomberg Sports, Lisa.

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Speaker 3: And Nathan, all right, thank you, John. Taking a quick

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Speaker 3: look at the markets right now, future as well, pretty

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Speaker 3: much treading water. We have SMP futures little change up

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Speaker 3: about a point down, Futures down about ten to f

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Speaker 3: percent forty two points, and NASZAK future is a little

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Speaker 3: changed up about nine. We have the two year yield

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Speaker 3: at three point nine eight percent, down two basis points,

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Speaker 3: and the yield on the tenure full point four five percent,

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Speaker 3: and that's down two basis points.

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Speaker 5: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 5: and around the world on Bloomberg dot com and the

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Speaker 5: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 2: Good morning. I'm Nathan Hager. The stakes have been raised

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Speaker 2: even higher. After four days of protests and Los Angeles,

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Speaker 2: President Trump is deploying seven hundred marines to join the

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Speaker 2: two thousand National Guard members he activated over the weekend.

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Speaker 2: California suing over that move. But the President says Governor

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Speaker 2: Gavin Newsom should be thanking him.

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Speaker 5: He should only be.

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Speaker 8: Happy I sent in the military, because if I didn't

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Speaker 8: send him in, you would add a problem. They're the

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Speaker 8: likes of which we haven't seen in a long time.

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Speaker 2: That was President Trump at the White House yesterday. This morning,

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Speaker 2: we're joined by Bloomberg New Senior editor Derek Wallbank and Derek,

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Speaker 2: this latest show of military force in LA seems to

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Speaker 2: raise things to a whole new level.

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Speaker 14: Good morning, Good morning, Nathan. Yes, it certainly does. It

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Speaker 14: is a move that does not have any recent precedent

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Speaker 14: to it, and it is one that the states, state

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Speaker 14: and local leaders have said is actually inflaming tensions, which

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Speaker 14: is contrary exactly what the President said. We did see

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Speaker 14: overnight additional clashes there. We also saw protests spreading to

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Speaker 14: a number of other cities, many of them peaceful, some

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Speaker 14: of them were protesters clashed in with police, including in Austin,

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Speaker 14: Texas by the state capitol. But look, there are there

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Speaker 14: are no signs right now that the demonstrations over immigration

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Speaker 14: customs enforcement detentions are going away anytime soon.

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Speaker 5: This is a live issue.

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Speaker 14: This is an issue that the Trump administration wants to

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Speaker 14: have as a central issue. If you're sort of thinking

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Speaker 14: about the stories that have been that have been written recently,

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Speaker 14: including on the Musk feud, or you know, sort of

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Speaker 14: what's in the One Big Beautiful Bill and difficulties in

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Speaker 14: passing that, or some other things, the Musk team would

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Speaker 14: or the Trump team would very much rather have the

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Speaker 14: conversation about immigration. They would much rather have the conversation

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Speaker 14: being had over photos of burning taxis on the streets

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Speaker 14: of Los Angeles, with with be masked protesters wearing, you know,

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Speaker 14: waving Mexican flags. There is a certain like iconography there

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Speaker 14: that the Trump administration in this fight is candidly quite

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Speaker 14: happy to have.

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Speaker 2: Interesting when you have the president seeming to endorse this

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Speaker 2: idea that his borders are Tom Homan put out that

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Speaker 2: if there's interference with the response that the governor could

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Speaker 2: be arrested, where does this go from here?

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Speaker 14: Derek, Well, you know one thing I should say before

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Speaker 14: the start of the answer to that is that Holman

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Speaker 14: did walk that back a little bit in a late interview.

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Speaker 14: But I will say, look, you know, it raises the

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Speaker 14: stakes and one of the things that I'm particularly interested

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Speaker 14: in here, Nathan, is that there is a certain you know,

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Speaker 14: cometh the hour cometh the man's situation for Gavin Newsom,

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Speaker 14: who has emerged as Trump's main foil. Look, we've sat

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Speaker 14: here talking to you and I for five months about

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Speaker 14: how Democrats have been struggling for a message and a

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Speaker 14: messenger to sort of talk about Donald Trump in a

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Speaker 14: contrasting sort of way, and up into circumstance steps Gavin Newsom.

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Speaker 14: You know, he's I think widely thought to be interested

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Speaker 14: in a twenty twenty eight run for president himself. So

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Speaker 14: he may or may not be happy to have the

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Speaker 14: contrast moment. But Newsom has become one of the most

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Speaker 14: prominent Democrats in the country now trying to offer a

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Speaker 14: contrasting period with Trump as Democrats are trying to find

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Speaker 14: their own message. So that is I think going to

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Speaker 14: be something that is under scoring, under girding all of

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Speaker 14: this going forward. You really can't lose sight of the

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Speaker 14: political aspect to it as well. At the same time,

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Speaker 14: look on the policy, as they said, the Trump administration

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Speaker 14: wants this fight the immigration, the deportations that is central

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Speaker 14: as a plank to the Republican platform under Trump, and

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Speaker 14: this is something that he says he was elected to do,

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Speaker 14: and he wants to go do it.

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Speaker 2: This is Bloomberg Daybreak, your morning podcast on the story's

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Speaker 2: making news from Wall Street to Washington and beyond.

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Speaker 5: I'm Nathan Hager.

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Speaker 3: And I'm Lisa Matteo. Join us again tomorrow morning for

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