WEBVTT - Bloomberg Daybreak: May 25, 2022 - Hour 1 (Radio) 0:00:01.480 --> 0:00:04.560 Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 0:00:04.640 --> 0:00:09.399 Daybreak for Wednesday two. Coming up this hour, President Biden 0:00:09.480 --> 0:00:13.039 reacts to another deadly school shooting. We will murd for again. 0:00:13.680 --> 0:00:16.880 We can do so much more. We have to do more. 0:00:17.200 --> 0:00:20.720 Plus candidates backed by Donald Trump loose and win primaries 0:00:20.760 --> 0:00:23.320 in Georgia, and the FED releases minutes from its May 0:00:23.360 --> 0:00:25.800 policy meeting. The n y p D says there has 0:00:25.840 --> 0:00:28.360 been an arrest in a deadly subway shooting. Plus the 0:00:28.360 --> 0:00:31.200 second ship in the baby formula from overseas arrives in 0:00:31.280 --> 0:00:34.680 the US today. I'm Michael Blar More ahead, I'm Scott Sevomberg. 0:00:34.760 --> 0:00:37.400 The Rangers even up their playoff series. The Yankee staff 0:00:37.400 --> 0:00:39.760 they're losing shriek and the Mets lose a wild one 0:00:39.760 --> 0:00:42.280 out West. I'll have that more coming up in sports. 0:00:44.520 --> 0:00:48.479 That's all's training ahead on Bloomberg Daybreak on Bloomberg eleven, 0:00:48.520 --> 0:00:53.000 Free on New York, Bloomberg one, Washington, d C, Bloomberg 0:00:53.040 --> 0:00:56.720 one oh six one, Boston, Bloomberg nine sixties and Francisco 0:00:57.200 --> 0:01:00.360 Sirius XAM one nineteen and around the world Old on 0:01:00.400 --> 0:01:03.680 Bloomberg Radio dot Com and via the Bloomberg Business App. 0:01:07.840 --> 0:01:10.600 And good morning. I'm Karen Moscow and I'm John Tucker. 0:01:10.720 --> 0:01:14.399 Bloomberg Daybreak being brought to you by Informatica. In the cloud, 0:01:14.480 --> 0:01:17.920 your data has the power to do the extraordinary. Managed 0:01:18.000 --> 0:01:20.880 data across any location of the clown for accurate and 0:01:21.040 --> 0:01:26.000 actionable insights. More at Informatica dot com and US futures 0:01:26.040 --> 0:01:28.720 are little change this morning, five oh one on Wall Street, 0:01:28.720 --> 0:01:30.840 and we checked the markets every fifteen minutes throughout the 0:01:30.840 --> 0:01:34.000 trading day on Bloomberg Guess and P futures are again 0:01:34.040 --> 0:01:37.280 little change. Down futures down thirty four and nasday futures 0:01:37.319 --> 0:01:40.120 are up eleven. The decks in Germany is up almost 0:01:40.160 --> 0:01:42.640 two tents of a percent. Pen your treasury up to 0:01:42.800 --> 0:01:46.319 thirty seconds your two point seven four percent, John, Karen. 0:01:46.319 --> 0:01:48.120 We're gonna have more on the markets in a minute, 0:01:48.160 --> 0:01:50.720 but first, the latest on the deadliest shooting at a 0:01:50.840 --> 0:01:54.840 US grade school since Sandy Hook Elementary in Connecticut. At 0:01:54.920 --> 0:01:58.080 least nineteen children and two adults were killed by an 0:01:58.120 --> 0:02:01.840 eighteen year old gunman at its Texas elementary school. The 0:02:01.840 --> 0:02:05.440 shooting is drawn emotional and angry reaction from President Biden 0:02:05.760 --> 0:02:09.560 Bloomberg's at Baxter has more Biden tapping into the anguish 0:02:09.560 --> 0:02:13.080 to lose a child. It's like having a piece of 0:02:13.120 --> 0:02:17.000 you soul and pivoting quickly to gun control. As a nation, 0:02:17.120 --> 0:02:20.520 we have to ask when in God's name are we're 0:02:20.520 --> 0:02:23.320 going to stand up to the gun mommy and answers. 0:02:23.360 --> 0:02:27.120 When we passed his sault weapons ban, mass shootings went down. 0:02:28.200 --> 0:02:32.000 When the law expired, mass shootings triple, the President saying 0:02:32.040 --> 0:02:35.200 it's time for Congress to move back. In San Francisco, 0:02:35.240 --> 0:02:37.960 I'm at Baxter Bloomberg Day Break, thanks said, in the 0:02:38.000 --> 0:02:40.760 interests of transparency, we should known. Michael Bloomberg, the founder 0:02:40.800 --> 0:02:43.560 majority owner Bloomberguilt, the parents of Bloomberg Radio, is a 0:02:43.600 --> 0:02:47.280 donor to groups that support gun control. John The Texas 0:02:47.320 --> 0:02:49.800 shooting took place just ten days after a gun end 0:02:49.880 --> 0:02:53.160 up in fire at a Buffalo supermarket in a racist attack. 0:02:53.440 --> 0:02:56.640 Anger overflowed among Americans who have long demanded legislation to 0:02:56.680 --> 0:02:59.880 prevent gun violence, and Bloomberg Politics A contributor, Genie she 0:03:00.040 --> 0:03:03.680 and Zano discussed the issue with Bloomberg's Joe Matthew. It's 0:03:03.720 --> 0:03:07.000 never too early to start talking solutions, because this is 0:03:07.000 --> 0:03:10.880 not again an isolated incident. This change of politics good backfire, 0:03:11.360 --> 0:03:14.280 It can backfire, but you know what that should be 0:03:14.400 --> 0:03:18.359 nobody's concern, and particularly this president's. This is going on 0:03:18.480 --> 0:03:20.800 and on. It has to be addressed. The problem is 0:03:20.919 --> 0:03:24.000 can you move anything like this through the US Congress today? 0:03:24.200 --> 0:03:28.600 And sadly, the answer is no. Bloomberg Politics contributor Jeanie 0:03:28.639 --> 0:03:32.120 she han Zano speaking with Joe Matthew on Bloomberg Sound On. 0:03:32.200 --> 0:03:35.600 Catch the program weekdays at five pm Eastern on Bloomberg Radio. 0:03:35.840 --> 0:03:38.400 And another major story we're following this morning to keep 0:03:38.440 --> 0:03:41.800 primary races across the country well, starting to Georgia, where 0:03:41.840 --> 0:03:44.440 Candida is backed by President Donald Trump, had both won 0:03:44.720 --> 0:03:49.240 and lost. Amy Morris has details from our Bloomberg News 0:03:49.320 --> 0:03:53.000 room in Washington. Georgia Governor Brian Camp and Secretary of 0:03:53.040 --> 0:03:56.640 State Brad Ravensburger, both targets of former President Donald Trump, 0:03:56.880 --> 0:04:00.480 both won their primaries. Camp beat David Purdue with seventy 0:04:00.480 --> 0:04:02.720 three point seven percent of the vote, and we'll face 0:04:02.760 --> 0:04:06.880 off against Democrats Stacy Abrams, who ran unopposed. Ravensburger beat 0:04:06.960 --> 0:04:09.480 Jodie Hives with fifty two point two percent of the vote. 0:04:09.720 --> 0:04:13.200 Former football great Herschel Walker, who was also backed by Trump, 0:04:13.440 --> 0:04:16.360 won the GOP Senate primary with sixty eight point three 0:04:16.360 --> 0:04:19.560 percent of the vote, and he'll face Democrat incumbent Raphael Warnock, 0:04:19.680 --> 0:04:21.960 who won with nearly nineties six percent of the vote. 0:04:22.080 --> 0:04:25.400 Marjorie Taylor Green one her GOP House primary with sixty 0:04:25.440 --> 0:04:27.920 nine point five percent of the vote in Washington. I'm 0:04:27.960 --> 0:04:30.880 Amy Morris, Bloomberg Daybreak, Right, Amy, thank you. Let's continue 0:04:30.880 --> 0:04:33.400 our team coverage of those primary races now with a 0:04:33.440 --> 0:04:36.320 look at some other results, and Bloomberg's Rnedy Young joins 0:04:36.400 --> 0:04:38.920 US Live with more. Good morning, Rinda, Good morning Karen. 0:04:39.040 --> 0:04:42.680 The Republican Senate primary heads into a runoff in Alabama 0:04:42.920 --> 0:04:46.279 with Katie Britt and U S Representative Moe Brooks. Britt 0:04:46.279 --> 0:04:49.919 garnered forty percent of the vote to nine percent for Brooks. 0:04:50.320 --> 0:04:53.640 Former White House Press Secretary Sarah Saunders wins the GOP 0:04:53.800 --> 0:04:57.159 nomination for governor in Arkansas with eighty three percent of 0:04:57.200 --> 0:05:00.679 the vote, and Texas Attorney General Kin pas Exton wins 0:05:00.720 --> 0:05:04.080 the GOP nomination for re election with nearly sixty eight 0:05:04.200 --> 0:05:06.599 percent of the vote. He was up against a member 0:05:06.600 --> 0:05:10.080 of the Bush political Dynasty, beating George P. Bush in 0:05:10.120 --> 0:05:14.320 the contest. Paxton is still under indictment for securities fraud 0:05:14.640 --> 0:05:18.280 and an FBI investigation. Live in New York, I'm gonna 0:05:18.279 --> 0:05:20.679 need a young Bloomberg day break, thanks for the attorney 0:05:20.720 --> 0:05:24.600 to markets US futures Right now, they are mixed following 0:05:24.600 --> 0:05:26.839 the late day rally on Wall Street, which saw the 0:05:26.920 --> 0:05:30.440 Dow close higher as well as the SMP five Paris losses. 0:05:30.880 --> 0:05:34.200 FED policy continues to dominate market moves. Today. We're gonna 0:05:34.240 --> 0:05:36.599 get more clues on how high interest rates may go 0:05:36.960 --> 0:05:39.800 and how fast the FED releases minutes from his policy 0:05:39.800 --> 0:05:42.839 meeting two pm Wall Street time. Let's get a preview 0:05:42.839 --> 0:05:46.680 from Bloombergs Mike McKee and unusually open. FED has all 0:05:46.680 --> 0:05:49.920 but promised two consecutive half percentage point rate increases in 0:05:50.040 --> 0:05:53.520 June and July. What they haven't publicly agreed on is 0:05:53.680 --> 0:05:56.800 what happens after that. That's why investors in analysts will 0:05:56.839 --> 0:05:59.279 be parsing the minutes of their main meeting for clues 0:05:59.320 --> 0:06:01.760 to how far i FED officials think they need to 0:06:01.800 --> 0:06:05.360 go and how quickly something else to look for a 0:06:05.480 --> 0:06:08.360 move away from discussing the concept of a neutral rate 0:06:08.440 --> 0:06:12.640 target in favor of following financial conditions, which have tightened 0:06:12.640 --> 0:06:16.000 significantly the past two months. If that continues, they may 0:06:16.040 --> 0:06:19.719 not have to raise rates as much. Michael McKee, Bloomberg Daybreak, 0:06:19.880 --> 0:06:22.159 All right, Mike, thank you well. The highly anticipated Twitter 0:06:22.240 --> 0:06:25.000 shareholder meeting also takes place today, and we get a 0:06:25.000 --> 0:06:27.960 preview from Bloomberg's Tom Busby. Well, you can expect a 0:06:28.040 --> 0:06:31.480 tumultuous meeting today, and it's all about money. Forty four 0:06:31.680 --> 0:06:35.520 billion dollars. Twitter's board says Elon Musk's forty four billion 0:06:35.520 --> 0:06:38.039 dollar agreement to buy the site is a done deal. 0:06:38.160 --> 0:06:41.119 There's no negotiating on the sale price, and it's urging 0:06:41.160 --> 0:06:45.040 its shareholders to approve the deal. But Musk is balking, 0:06:45.080 --> 0:06:47.920 saying he'll only move forward if the company is transparent 0:06:47.960 --> 0:06:50.719 about all the fake bots and spam accounts on the platform. 0:06:50.800 --> 0:06:53.520 Many think that Musk either has cold feet about the 0:06:53.560 --> 0:06:56.800 agreement or is merely angling for a sharply lower price. 0:06:57.240 --> 0:07:01.200 Tom Busby, Bloomberg Daybreak, Thanks Tom. We maybe just a 0:07:01.279 --> 0:07:03.279 day away from a major deal in Attack, where all 0:07:03.320 --> 0:07:06.360 Bloomberg News has learned that Broadcom is working towards announcement 0:07:06.400 --> 0:07:09.920 of an acquisition of VM where tomorrow the stock and 0:07:10.000 --> 0:07:13.400 cash deal would value the cloud computing company at one 0:07:14.120 --> 0:07:16.600 dollars this year caused much lower than that yesterday, nearly 0:07:16.680 --> 0:07:23.880 one hundred sixteen dollars this year. This is Bloomberg Andy. 0:07:23.960 --> 0:07:27.000 It is now five seven the Odd Wall Street and 0:07:27.240 --> 0:07:29.560 that's time to bringing Michael Barr with more on what 0:07:29.600 --> 0:07:32.679 else is going on to New York and around the world. Joanna, 0:07:32.760 --> 0:07:35.760 thank you very much. Sarah Man, suspected of abruptly pulling 0:07:35.800 --> 0:07:37.760 a gun and killing a stranger on a New York 0:07:37.800 --> 0:07:41.440 City subway train, has been arrested. Police say they don't 0:07:41.520 --> 0:07:46.280 yet know what motivated the apparently unprovoked attack. Andrew Abdulla 0:07:46.400 --> 0:07:49.680 was taken into custody hours after authorities posted his name 0:07:49.760 --> 0:07:53.080 and photo on social media and implored the public to 0:07:53.200 --> 0:07:56.760 help find him. New York Mayor Eric Adams the fact 0:07:56.920 --> 0:08:01.880 is he is the posted child of many people who 0:08:02.000 --> 0:08:06.400 believe they can create violence without any repercussion at all. 0:08:06.680 --> 0:08:09.440 Mayor Adams says the twenty five year old is expected 0:08:09.480 --> 0:08:11.800 to face a murder charge in the death of forty 0:08:11.840 --> 0:08:15.280 eight year old Daniel Enriquez. Enriquez was shot to death 0:08:15.320 --> 0:08:19.400 while heading to brunch Sunday morning. Earlier, Mayor Adams commented 0:08:19.440 --> 0:08:22.800 on a report from the National Oceanic and Atmospheric Administration 0:08:23.240 --> 0:08:27.360 NOAH released their predictions for the Atlantic Hurricane Season Outlook, 0:08:27.720 --> 0:08:30.880 predicting an above normal storm season for a seventh year 0:08:30.880 --> 0:08:34.199 in a row and up to six major hurricanes impacting 0:08:34.240 --> 0:08:37.720 the country. Adam says it's essential for New Yorkers to 0:08:37.840 --> 0:08:43.000 understand their risks and evacuation plans before these kinds of 0:08:43.080 --> 0:08:48.800 weather events drunk coastal storms, hurricanes and floods. UH preparation 0:08:49.000 --> 0:08:52.480 is everything, and today this announcement is allowing all of 0:08:52.520 --> 0:08:57.600 our agencies and New Yorkers to be prepared. Mayor Adams 0:08:57.640 --> 0:09:00.440 reflected on Hurricane Ida, which killed more than a dozen 0:09:00.480 --> 0:09:03.960 New Yorkers last fall. With flash floods, l I, Double 0:09:04.120 --> 0:09:07.680 R and Metro North train ridership is down from pre 0:09:07.920 --> 0:09:12.600 pandemic levels. In the estimated number of passengers average three 0:09:12.800 --> 0:09:15.559 D twenty seven thousand per day for the work week 0:09:15.920 --> 0:09:19.839 ending May. The good news is that ridership is up 0:09:19.880 --> 0:09:23.800 two point from the previous week. First Lady Jill Biden 0:09:23.800 --> 0:09:27.080 and Surgeon General Dr vi Vic Murphy will greet the 0:09:27.200 --> 0:09:30.320 arrival of the second shipment of baby formula through Operation 0:09:30.440 --> 0:09:35.040 Fly Formula FedEx plane traveling from Germany packed with formula 0:09:35.360 --> 0:09:39.000 lands today at Dulles Airport outside Washington. The first shipment 0:09:39.040 --> 0:09:42.760 of specialized formula from Europe arrived Sunday. South Korea says 0:09:42.800 --> 0:09:46.800 it appears North Korea has test launched and intercontinental ballistic missile. 0:09:47.040 --> 0:09:49.760 The South says the North also tested two other missiles. 0:09:50.160 --> 0:09:52.680 Global News twenty four hours a day on air and 0:09:52.800 --> 0:09:56.360 on Bloomberg Quicktake, powered by more than twenty seven hundred 0:09:56.400 --> 0:09:59.120 journalists and analysts in more than a hundred twenty countries. 0:09:59.160 --> 0:10:06.439 I'm Michael bar this Bloomberg. John, Michael, thank you. It's 0:10:06.440 --> 0:10:08.160 now fine s down on Wall Street. That's time for 0:10:08.200 --> 0:10:12.560 the Blueberg Sports Update. You're Scott Sidenberg. Good morning, John. 0:10:12.559 --> 0:10:15.120 The Rangers beat the Hurricanes for once even up their 0:10:15.120 --> 0:10:17.840 playoff series at two games apiece Frank for trying to 0:10:17.880 --> 0:10:20.360 open up the scoring on the power play, Adam Fox 0:10:20.440 --> 0:10:23.240 because a bettage ad and Andrew Copp also scored, while 0:10:23.240 --> 0:10:27.600 Igor Shisterkin made thirty saves. Here was Gerard Glant competed 0:10:27.640 --> 0:10:29.760 heard the first payer was about it the best payod 0:10:29.760 --> 0:10:32.560 of hockey ice statum this year from Bote, not just us. 0:10:32.600 --> 0:10:35.520 It was death back and forth. It was I thought 0:10:35.520 --> 0:10:38.080 it could have been forward to that thought last after 0:10:38.120 --> 0:10:41.480 the first payod goal Davy elsewhere. The Oilers took a 0:10:41.520 --> 0:10:43.920 three one series lead over the Flames with a five 0:10:44.040 --> 0:10:47.920 three win. NBA Playoffs last night, the Mavericks avoid elimination, 0:10:47.960 --> 0:10:50.840 beating the Warriors one nineteen one On nine. Tonight, Eastern 0:10:50.840 --> 0:10:53.560 Conference Finals Game five, the Heat and Celtics tied at 0:10:53.559 --> 0:10:56.400 two games apiece. Pose Trevino with a big knight for 0:10:56.440 --> 0:10:58.640 the Yankees, the solo homer in the third, a game 0:10:58.679 --> 0:11:00.960 time single in the seven, in the walk off winner 0:11:00.960 --> 0:11:03.280 in the bottom of the eleven, as the Yankee snapped 0:11:03.280 --> 0:11:05.920 their season high three game losing streak beating the Orioles 0:11:05.920 --> 0:11:08.560 seven six. The Mets and Giants playing a back and 0:11:08.640 --> 0:11:11.440 forth game last night in San Francisco, the Mets scoring 0:11:11.480 --> 0:11:14.320 ten runs in the seventh, eighth, and ninth innings combined, 0:11:14.720 --> 0:11:17.199 they erase a six run deficit, but would lose in 0:11:17.280 --> 0:11:19.720 the bottom of the ninth and when Daz allowing four hits, 0:11:19.720 --> 0:11:24.640 including the walkoff single to Brandon crawwelve. The final tennis 0:11:24.679 --> 0:11:27.640 at the French Open, Joe Wilfred Sanga's career comes to 0:11:27.679 --> 0:11:30.720 an end. He loses in the first round and retires 0:11:30.760 --> 0:11:34.320 at the age of thirty seven with eighteen career titles. Elsewhere, 0:11:34.320 --> 0:11:38.280 Americans Madison Keys and Jessica Pegoula advanced on the women's side. 0:11:38.520 --> 0:11:42.920 I'm Scott Sedinberg with Bloomberg Sports. John alright, thanks Scott, 0:11:43.080 --> 0:11:47.360 and right now, futures unchanged. The dansdeck features anyway, the 0:11:47.600 --> 0:11:50.480 SMB futures just four points lower right now, and the 0:11:50.520 --> 0:11:54.640 DOWN futures down fifty two points. So the benchmark ten 0:11:54.720 --> 0:11:57.679 year yield in the US two seventy three that is 0:11:57.760 --> 0:12:02.080 found one basis point. You're listening to Bloomberg day Break 0:12:06.960 --> 0:12:10.800 and just ahead on Bloomberg Daybreak, another match shooting, also 0:12:11.120 --> 0:12:14.280 the midterm elections that will be the focus this morning. 0:12:14.280 --> 0:12:17.800 When we speak to Terry Haines of Pangea Policy. That's 0:12:17.880 --> 0:12:25.040 straight ahead markets, headlines and breaking news twenty four hours 0:12:25.040 --> 0:12:28.200 a day at Bloomberg dot Com, the Bloomberg Business and 0:12:28.360 --> 0:12:37.920 at Bloomberg Quick Take. He's a Bloomberg Business lash and 0:12:37.960 --> 0:12:41.040 I'm Karon Moscow. All stocks in Europe are higher. US 0:12:41.120 --> 0:12:44.360 Dock Index futures have turned lower as markets assess the 0:12:44.400 --> 0:12:48.240 outlook for Federal Reserve monetary tightening. The dollar is pushing higher, 0:12:48.280 --> 0:12:50.319 and we check the markets every fifteen minutes throughout the 0:12:50.320 --> 0:12:53.360 trading day. On bloomberg S and P futures are down 0:12:53.400 --> 0:12:56.400 eight points now futures down seventy four, nastday futures down 0:12:56.400 --> 0:12:58.960 twenty eight. The decks in Germany is down a tenth 0:12:58.960 --> 0:13:01.800 of our percent. Year treasury at four thirty seconds, he'll 0:13:01.840 --> 0:13:03.960 two point seven three percent. The yield on the two 0:13:04.040 --> 0:13:07.240 year two point four nine percent. Nimex screwed oil is 0:13:07.280 --> 0:13:09.400 up one percent or at a dollar eight a hundred 0:13:09.440 --> 0:13:12.079 ten dollars eighty six cents, and barrel comex gold is 0:13:12.120 --> 0:13:14.560 down half percent or eight dollars seventy cents at eighteen 0:13:14.600 --> 0:13:18.000 sixty two seventy announced. The euro one point six six 0:13:18.040 --> 0:13:20.560 five against the dollar, British found one point to five 0:13:20.559 --> 0:13:23.440 oh seven, the en at one seven point oh six, 0:13:23.480 --> 0:13:26.679 and Bitcoin this morning it's up nine ten percent at 0:13:26.679 --> 0:13:29.800 twenty nine thousand, seven hundred dollars. Today we are watching 0:13:29.800 --> 0:13:31.720 for a report on durable goods orders out a day 0:13:31.760 --> 0:13:33.560 thirty Wall Street time and at two week at the 0:13:33.559 --> 0:13:36.280 minutes from the Federal Reserve's most recent meeting. That's a 0:13:36.320 --> 0:13:39.000 Bloomberg business Flash. Now here's Michael Barr with more on 0:13:39.040 --> 0:13:42.160 what's going on around the world. Michael, good morning, Good morning, Karen. 0:13:42.200 --> 0:13:45.160 An eighteen year old gunman opened fire at a Uvalde, 0:13:45.240 --> 0:13:48.880 Texas elementary school, killing at least nineteen children and two 0:13:48.880 --> 0:13:52.240 adults before he was killed by law enforcement. Later of 0:13:52.360 --> 0:13:55.880 visibly a great President Biden addressed the nation renewing his 0:13:56.000 --> 0:13:58.880 call for the reform of gun laws. We passed his 0:13:58.920 --> 0:14:03.559 swallow upon span mass shootings went down when the law expired. 0:14:03.760 --> 0:14:08.760 Mass shooting Triple president by Georgia Governor Brian Kemp has 0:14:08.840 --> 0:14:12.480 easily beat Donald Trump's handpick challenger and a Republican primary, 0:14:12.679 --> 0:14:16.640 former Senator David Purdue. Kemp got seventy eight percent perdue received. 0:14:17.880 --> 0:14:21.280 Kemp will face Democrats Stacy Abrams in the fall. Georgia 0:14:21.360 --> 0:14:25.560 Secretary of State Brad Rapinsberger has won the Republican primary 0:14:25.720 --> 0:14:28.280 and a bid to keep his job. He defeated three challengers, 0:14:28.520 --> 0:14:32.040 including US Representative Jody Heist, who was endorsed by Trump. 0:14:32.440 --> 0:14:35.600 NHL playoff the Rangers beat the Hurricanes. Baseball, the Yankees 0:14:35.640 --> 0:14:38.000 beat the Orioles. The Mets lost to the Giants Red 0:14:38.040 --> 0:14:41.240 Sox and has won the Nationals lost NBA playoffs. The 0:14:41.280 --> 0:14:44.640 Mavericks stay alive as they beat the Warriors. After the game, 0:14:44.680 --> 0:14:47.680 an emotional Warriors head coach Steve Kerr talked about the 0:14:47.720 --> 0:14:52.400 elementary school shooting in Texas. When are we gonna do something? 0:14:53.000 --> 0:14:55.720 Kerr his father was fatally shot nearly four decades ago. 0:14:56.240 --> 0:14:58.640 Global News twenty four hours a day on air and 0:14:58.760 --> 0:15:02.200 on Bloomberg Quick Take power by more than journalists analysts 0:15:02.200 --> 0:15:04.840 in more than twenty countries. On Michael bar This is Bloomberg, 0:15:04.880 --> 0:15:08.040 John Michael five twenty On Well Story. We're live from 0:15:08.040 --> 0:15:12.280 the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak. Another 0:15:12.280 --> 0:15:16.000 mass shooting in the midterm elections the focus for us 0:15:16.040 --> 0:15:18.480 this morning. We're joined now by Terry Hayes, founder of 0:15:18.560 --> 0:15:21.640 Pangia Policy. Terry, always a pleasure, Thanks for being here. 0:15:22.240 --> 0:15:25.360 Republicans as I, as far as I can tell, Terry 0:15:25.360 --> 0:15:29.280 have suffered no electoral consequences for their opposition to even 0:15:29.600 --> 0:15:35.040 modest restrictions on civilian weaponry. Um, what if anything is next? 0:15:37.080 --> 0:15:42.960 Good morning, John, and thanks? Uh what's next? I think, unfortunately, 0:15:43.360 --> 0:15:45.840 is the same kind of mishmash. We've been a political 0:15:45.880 --> 0:15:49.680 mishmash we've been seeing since Dandy Hook. Uh. You know, 0:15:49.840 --> 0:15:55.880 there are this is a classic example of of parties 0:15:56.080 --> 0:16:00.320 where the purest position tends to take over or and 0:16:00.400 --> 0:16:04.840 there's very little room for for common sense, uh, incremental 0:16:05.400 --> 0:16:08.320 improvements in the middle. And there's not a lot of 0:16:08.400 --> 0:16:11.320 leadership in either party. You know, as far back as 0:16:12.280 --> 0:16:15.640 in the aftermath as Andy Hook. Uh, there there was 0:16:15.640 --> 0:16:19.840 an attempt bipartisan attempt by senators to me Republican mansion 0:16:19.920 --> 0:16:24.800 democrat uh on on background checks, to really really tighten 0:16:24.840 --> 0:16:27.240 all that up. And what you ended up with was 0:16:27.640 --> 0:16:29.960 with a sixty vote threshold needed, you ended up with 0:16:30.000 --> 0:16:35.000 a vote where four Republicans crossed the line for a yes, 0:16:35.640 --> 0:16:39.840 five or five Democrats crossed the line on no. And uh, 0:16:39.920 --> 0:16:42.280 you know what's going to have to happen is there's 0:16:42.280 --> 0:16:45.200 going to have to be some leadership. Uh. Frankly, I 0:16:45.240 --> 0:16:48.240 think that that ought to start at the top. What 0:16:48.320 --> 0:16:53.520 you you know, for all of the president's uh grief 0:16:53.560 --> 0:16:57.800 and obviously sincere emotion about this, what you didn't hear 0:16:58.520 --> 0:17:01.680 yesterday was a al must to lead on this. And 0:17:02.360 --> 0:17:07.040 you know, I think that uh uh that the leadership 0:17:07.080 --> 0:17:11.360 is certainly necessary on a bipartisan basis number one. And secondly, 0:17:11.400 --> 0:17:15.199 from a cold political calculation, Uh, I frankly think that 0:17:15.200 --> 0:17:20.760 would be a winner. On the President's part. President has favorability. Uh, 0:17:20.880 --> 0:17:22.320 there's you know, he's not going to get a single 0:17:22.400 --> 0:17:27.520 vote from somebody who's a Second Amendment absolutist anyway, but 0:17:28.200 --> 0:17:30.639 you know, the broad middle of the country or is 0:17:30.680 --> 0:17:35.280 crying out for action and uh, and how to step up. Frankly, 0:17:35.680 --> 0:17:38.639 the Obama people did not step up before and uh, 0:17:39.040 --> 0:17:41.760 the president has the opportunity to do so. Now does 0:17:41.800 --> 0:17:46.280 it make a difference come midterm elections? I think really, 0:17:46.480 --> 0:17:50.679 you know, I think really not. Um people have this. 0:17:51.160 --> 0:17:54.359 I think you your observation is correct. People have this 0:17:54.480 --> 0:17:58.040 largely baked into their their concerns about it. And and 0:17:58.119 --> 0:18:00.399 you know, frankly, there's a lot of there's there's a 0:18:00.440 --> 0:18:04.159 lot of pointing in every other direction. Democrats blaming Republicans, 0:18:04.200 --> 0:18:10.119 Republicans blaming democrats, Uh, politicians blaming lobbyists. You know, And 0:18:10.760 --> 0:18:13.399 to me, that's always a tell. When you're blaming lobbyists, 0:18:13.600 --> 0:18:18.120 uh for for failure to act, you're deflecting. No matter 0:18:18.119 --> 0:18:21.880 who you are and or what the issue is and uh, 0:18:22.000 --> 0:18:25.320 you know, and clearly somebody needs to to to break 0:18:25.320 --> 0:18:28.000 out of this, uh, this cycle in order to make 0:18:28.040 --> 0:18:33.480 some progress. Here's another response, um option volume for shares 0:18:33.520 --> 0:18:36.960 of Smith and Wesson. Yesterday after this they surged the 0:18:37.040 --> 0:18:40.000 shares were up over one percent. I mean, I'll spare 0:18:40.040 --> 0:18:44.840 you the adjectives, but that's where we're at. Yeah, it's uh, 0:18:44.920 --> 0:18:48.280 you know, I heard of a statistic recently and I'm 0:18:48.280 --> 0:18:50.639 not going to claim this is this is accurate, but 0:18:50.880 --> 0:18:54.000 but you know, over the last year, gun purchases have 0:18:54.119 --> 0:18:57.480 been up a great deal and uh, you know, there 0:18:57.800 --> 0:19:02.359 has been a sense certainly since uh certainly since and 0:19:02.960 --> 0:19:07.240 the summer of two years ago where uh, you know, 0:19:07.520 --> 0:19:10.919 people who get much more active about gun purchases because 0:19:10.960 --> 0:19:13.800 they fear for their personal security for all kinds of reasons. 0:19:14.000 --> 0:19:18.520 And uh, you know, regardless of what happened yesterday and 0:19:19.680 --> 0:19:24.000 not minimizing it, quite the opposite. But you know that 0:19:24.160 --> 0:19:29.119 that's that's a much bigger problem. UM complicating things, I 0:19:29.160 --> 0:19:32.879 would imagine with the Supreme Court's current term, they're taking 0:19:32.960 --> 0:19:37.280 up at this point local gun laws, for example, those 0:19:37.320 --> 0:19:39.760 that are in New York. There's a real possibility those 0:19:39.800 --> 0:19:44.760 will be scaled back tremendously. That is a possibility. Yeah, 0:19:44.880 --> 0:19:48.600 uh it uh, you know, it runs up the you know, 0:19:48.640 --> 0:19:53.600 the local attempts, local and state attempts UH to push 0:19:53.640 --> 0:19:58.320 the envelope on issues UH these days is a feature 0:19:58.520 --> 0:20:03.080 of h is a feature of the federal state relationship 0:20:03.119 --> 0:20:05.960 and the desire of folks to uh to want to 0:20:06.080 --> 0:20:09.480 establish positions and uh, you know, guns are no different 0:20:09.520 --> 0:20:12.320 than uh, you know, than the road debate or you know, 0:20:12.480 --> 0:20:14.200 a bunch of other things in that regard. I mean 0:20:14.520 --> 0:20:20.320 you see legislatures and UH and local authorities trying to 0:20:20.600 --> 0:20:23.359 Karen all right, John, thank you, and good morning. It 0:20:23.520 --> 0:20:26.440 is five thirty on Wall Street. I'm Karen Moscow along 0:20:26.480 --> 0:20:28.919 with the John Tucker, and we're just about four hours 0:20:28.960 --> 0:20:31.280 away from the open of US trading. Let's get you 0:20:31.320 --> 0:20:32.679 up to date on the news you need to know 0:20:32.720 --> 0:20:35.959 at this hour. Beginning in Texas, have we've been discussing 0:20:36.000 --> 0:20:38.760 at least nineteen children and two adults were killed by 0:20:38.800 --> 0:20:41.560 an eighteen year old gunmen at rang the elementary school. 0:20:41.840 --> 0:20:45.320 President Biden addressed the nation last night, expressing condolences and 0:20:45.400 --> 0:20:49.199 quickly pivoting to gun legislation where in God's name is 0:20:49.200 --> 0:20:52.920 our backbone to the courage to do with the stand 0:20:53.000 --> 0:20:56.359 up to the lobbies. It's time to turn this pain 0:20:56.440 --> 0:21:00.000 into action. President Biden, addressing the nation after the elementary 0:21:00.080 --> 0:21:03.159 school shooting and Texas. We should note Michael Bloomberg, the 0:21:03.200 --> 0:21:06.080 founder and majority owner of Bloomberg LP, the parent of 0:21:06.119 --> 0:21:09.760 Bloomberg Radio, is a donor to groups that support gun control, 0:21:09.840 --> 0:21:13.240 including Every Town for Gun Safety. And on the other 0:21:13.320 --> 0:21:16.560 major story we're following this morning, keep primary races across 0:21:16.640 --> 0:21:19.439 the country. As we spoke to Terry Haynes about this 0:21:19.520 --> 0:21:21.640 just a moment ago in Georgia to Canadada, is backed 0:21:21.640 --> 0:21:25.480 by Donald Trump have lost another one. Bloomberg's Rnita Young 0:21:25.560 --> 0:21:29.080 joins US Live with more details. Rath in a Good morning, Ton, 0:21:29.119 --> 0:21:32.800 Good morning Georgia. Governor Brian Kemp and Secretary of State 0:21:32.880 --> 0:21:37.120 Brad Raefensburger, both targets of former President Trump, both won 0:21:37.200 --> 0:21:40.880 their primaries. Count beat David Purdue with seventy three point 0:21:40.920 --> 0:21:44.480 seven percent of the vote. He'll face Democrats Stacy Abrams, 0:21:44.480 --> 0:21:48.600 who ran unopposed. Raffensburger beat Jodie Heist with fifty two 0:21:48.600 --> 0:21:51.400 point two percent of the vote. In former football great 0:21:51.400 --> 0:21:55.040 Herschel Walker, also backed by Trump, won the GOP Senate 0:21:55.160 --> 0:21:58.080 primary with sixty eight point three percent of the vote. 0:21:58.359 --> 0:22:01.520 He'll face Democrat and come to a. Raphael Warnock, who 0:22:01.640 --> 0:22:05.439 secured nearly nineties six percent of the vote, and Marjorie 0:22:05.440 --> 0:22:09.040 Taylor Green one her GOP House primary with sixty nine 0:22:09.040 --> 0:22:12.000 point five percent of the vote. Live from New York, 0:22:12.080 --> 0:22:14.040 I'm gonna need a young Bloomberg day break, all right, 0:22:14.040 --> 0:22:16.600 we need to thank you well. Elsewhere, the Alabama Republican 0:22:16.680 --> 0:22:19.439 Senate primary heads into a run off with Katie Britt 0:22:19.440 --> 0:22:22.879 and US Representative Moe Brooks. Britt garner percent of the 0:22:22.920 --> 0:22:25.840 vote to Brooks twenty nine percent. Former White House Press 0:22:25.840 --> 0:22:29.520 Secretary Sarah Sanders won the GOP nomination for governor in 0:22:29.680 --> 0:22:32.439 Arkansas with eighty three percent of the vote, and Texas 0:22:32.480 --> 0:22:35.480 Attorney General Ken Paxton took the GOP nomination for re 0:22:35.600 --> 0:22:38.359 election with nearly sixty eight percent of the vote against 0:22:38.400 --> 0:22:41.520 George P. Bush And Journey to the market's futures lower 0:22:41.680 --> 0:22:43.560 this morning following me a late day rally on Wall 0:22:43.560 --> 0:22:46.359 Street yesterday. Just ahead, we'll get minutes from the FEDS 0:22:46.480 --> 0:22:49.440 latest meeting that is due to PM Wall Street time 0:22:49.760 --> 0:22:52.960 and the potential big deal in tech. John Bloomberg News 0:22:53.000 --> 0:22:56.280 has learned that Broadcom is working towards announcing its acquisition 0:22:56.320 --> 0:22:58.920 of vm Ware tomorrow. The deal would value of the 0:22:58.920 --> 0:23:03.959 cloud computing company at onety a share. SMP futures are 0:23:04.000 --> 0:23:06.680 down four points this morning. Down futures down forty one 0:23:06.760 --> 0:23:10.040 NASTAGG futures down to twelve ten year treasury up four 0:23:10.080 --> 0:23:12.919 thirty seconds the two point seven three per cent, and 0:23:12.960 --> 0:23:14.960 they yield on the two year two point four and 0:23:15.080 --> 0:23:18.280 nine percent. Nine X Screwed oil is up one and 0:23:18.280 --> 0:23:20.720 a half percent of a dollar sixty six at a 0:23:20.760 --> 0:23:23.719 hundred eleven dollars forty one cents of barrel and comex 0:23:23.760 --> 0:23:25.960