Speaker 1: News when you want it with Bloomberg News Now, I'm
Speaker 1: Amy Morris. At least forty seven people are dead more
Speaker 1: are trapped after a powerful earthquake in Colombia. The magnitude
Speaker 1: seven point four tremor struck at seven thirty four this
Speaker 1: morning local time near the town of San Jose del Palmar,
Speaker 1: with at least one aftershock. The earthquake has also rocked
Speaker 1: buildings as far away as Bogata, which is one hundred
Speaker 1: and eighty six miles away. President Trump has signaled that
Speaker 1: he is prepared to let economic pressure build on Iran
Speaker 1: rather than launch fresh military strikes. The President is looking
Speaker 1: to force a reopening of the Strait of Hormuz, even
Speaker 1: as Iran reiterated that conditions still are not in place
Speaker 1: for that. Bloomberg Middle East Breaking News editor Patrick Sites, I.
Speaker 2: Think we're caught in this kind of back and forth
Speaker 2: where one day the president will say they're on the
Speaker 2: verge of resuming military strikes, or they're on the verge
Speaker 2: of a deal, and now the latest is that they're
Speaker 2: trying to take some of the immediacy or expectations of
Speaker 2: immediacy out of the the diplomatic.
Speaker 1: Dance Bloomberg's Patrick Sykes, and crude oil is about four
Speaker 1: percent higher now WTI topping eighty one dollars a barrel,
Speaker 1: and Brent crude closing in on eighty seven dollars a barrel.
Speaker 1: A rally in oil prices left stocks wavering, while bond
Speaker 1: yields rose with trader anxiety building just days ahead of
Speaker 1: a key inflation report. We check markets for you all
Speaker 1: day long. Here if Bloomberg, the S and P five
Speaker 1: hundred is up a tenth of a percent. NASDAK is
Speaker 1: little changed on the downside, the Dow little changed on
Speaker 1: the downside. The ten year treasury yield at four point
Speaker 1: six nine percent, the two year yield at four point
Speaker 1: two three percent. Philadelphia Semiconductor Index more than one and
Speaker 1: a half percent lower, led by Coherent, which is down
Speaker 1: twelve percent. White House Economic advisor Kevin Hassett says he
Speaker 1: is not looking to replace Lisa Cook on the FED
Speaker 1: board now that President Trump has revived his threat to
Speaker 1: remove her over unproven mortgage fraud allegations.
Speaker 3: She says that she's one hundred percent innocent, you know,
Speaker 3: as a human being. I hope that's true, but I
Speaker 3: think that if in the end they're there is a cause.
Speaker 3: Of course, the president has the right to fire her,
Speaker 3: whether there is or not. That's a law enforcement mattern.
Speaker 1: Hassett says he'd either keep rates on hold or cut
Speaker 1: if he were running the FED. White House Economic Advisor
Speaker 1: Kevin Hassett appearing on CNBC. Apple was downgraded to an
Speaker 1: underperformed rating at Jeffries and the latest example of growing
Speaker 1: bearishness toward Apple. Analyst Edison Lee is concerned about the
Speaker 1: outlook for the iPhone, especially Apple's ability to drive higher
Speaker 1: average selling prices.
Speaker 4: Smartphone itself is a very mature product and that's why
Speaker 4: the majority of the demand is going to come from
Speaker 4: replacement demand. And we think that with AI not yet
Speaker 4: taking hold right to change the utility of the smartphone,
Speaker 4: I think that new form factor is important for Apple
Speaker 4: to be able to raise the ASP over time.
Speaker 1: Jeffries analyst Edison Lee on Bloomberg Tech, Apple shares now
Speaker 1: more than two percent lower. Meta has introduced a new
Speaker 1: downloadable AI mode model called news Glimmer that can run
Speaker 1: on a personal computer. Meta CEO Mark Zuckerberg wrote an
Speaker 1: essay saying the company aims to distribute superintelligence widely and
Speaker 1: give every person the ability to direct it rather than
Speaker 1: centralizing it. Meta shares now more than one percent higher.
Speaker 1: Microsoft is reportedly planning to significantly increase production of its
Speaker 1: internally designed next generation AI chips next year. The Information
Speaker 1: reports Microsoft has been in talks with TSMC to secure
Speaker 1: a manufacturing capacity for more than three hundred thousand of
Speaker 1: the chips for delivery in twenty twenty seven. Microsoft's general
Speaker 1: manager for Azuremaiya says the figures don't reflect the scale
Speaker 1: of the program and expects deployments to be measured in gigawatts.
Speaker 1: Microsoft now about two percent higher. Intel says it will
Speaker 1: be offering fifteen billion dollars in common stock, taking advantage
Speaker 1: of renewed interest in its business prospects during the AI
Speaker 1: Data Center boom. Intel says the money will be used
Speaker 1: for general corporate purposes. Shares of Intel nearly four four
Speaker 1: percent lower. Game stop considering withdrawing its fifty six billion
Speaker 1: dollar bit for eBay and may propose a partnership or
Speaker 1: joint venture instead. It was less than a month ago
Speaker 1: GameStop CEO Ryan Cohen told Bloomberg they were focused on eBay.
Speaker 3: I'm not going to call my shots, but We're coming
Speaker 3: for eBay one way or another.
Speaker 1: Partnership could enable eBay to leverage game stops US retail
Speaker 1: locations and increase market share in categories like trading cards
Speaker 1: and collectibles. GameStop shares little changed. That's news when you
Speaker 1: want it with Bloomberg News Now. I'm Amy Morrison. This
Speaker 1: is Bloomberg