Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Karen, we begin with a tense situation in the Middle East.
Speaker 3: Israel and Iran have been exchanging missile attacks, despite calls
Speaker 3: from President Trump on both sides to stop the fighting.
Speaker 3: In a wide ranging interview with NBC's Meet the Press
Speaker 3: heard Sundays on Bloomberg Radio, the President said he still
Speaker 3: thinks a deal is possible.
Speaker 4: We're very close. We have a couple of points. They
Speaker 4: don't even seem like big points. They've conceded the fact
Speaker 4: that they will not have nuclear weapons.
Speaker 3: And in a separate interview at the Financial Times, President
Speaker 3: Trump said Israeli Prime Minister Benjamin Netanyahu would have to
Speaker 3: accept any US deal with Iran, saying, quote, I call
Speaker 3: the shots. We get more from Bloomberg sabirabu Omar in Dubai.
Speaker 5: The ceasefire, the true stocks have been in a fragile
Speaker 5: state since the initial ceasefire was reached on April eighth,
Speaker 5: But what we've seen over the past couple of days
Speaker 5: really complicates things. Right, So what we've seen over on Sunday,
Speaker 5: is Hesbelah in Lebanon and Israel trading fires. Israel had
Speaker 5: retaliated to an attack by Hasbullah on the northern part
Speaker 5: of Israel to attacking the southern suburbs of Beirut, killing
Speaker 5: people and injuring others, and.
Speaker 3: Now Bloomberg's of Birab Bomar reports Israeli Army radio saying
Speaker 3: Iran has fired about thirty missiles at Israel since last night.
Speaker 3: An Iranian official says the US is responsible for the
Speaker 3: consequences of any escalation in the Middle East, and.
Speaker 2: Nathan there's a new risk of escalation in the Strait
Speaker 2: of Horror moves. The Iran backed Huthis and Yemen have
Speaker 2: declared a ban on Israeli ships in the Red Sea,
Speaker 2: threatening a key bypass route to the waterway that handles
Speaker 2: about a fifth.
Speaker 6: Of global oil flows.
Speaker 2: The Huthis previously began attacking ships in twenty twenty three
Speaker 2: after the outbreak of war between Israel and Hamas and Gaza.
Speaker 2: They largely sent out the war in Iran, but have
Speaker 2: repeatedly warned they could close the Bob al Mandeb straight
Speaker 2: that leads from the Red Sea to the Indian ocean.
Speaker 3: Well, let's turn out to politics, Karen, there is a
Speaker 3: new turn in the race for mayor of Los Angeles.
Speaker 3: Bloomberg's John Tucker joins us with the latest John.
Speaker 7: And Nathan is More mailion ballots are counted. Democratic Los
Speaker 7: Angeles council member Nthea Ramin has surge pass Republican reality
Speaker 7: TV personality Spencer Pratt. Ramen, who initially trailed Pratt by
Speaker 7: eight percentage points, closed the gap as the mail and
Speaker 7: ballots were counted over the weekend. And that's a protracted
Speaker 7: process in California that can drag on for weeks. Robin
Speaker 7: had twenty seven point one percent of the votes counted
Speaker 7: so far, Prant twenty six point seven percent. Both are
Speaker 7: vying to compete in a November third runoff against Mayor
Speaker 7: Karen Bass, who has thirty four point seven percent of
Speaker 7: the vote. The forty four year old Ramen has favored,
Speaker 7: among other things, cutting spending on police. Her leftist politics
Speaker 7: prompted comparisons with Zornbumdani, a Pellow Democratic socialist who swept
Speaker 7: to victory as New York's I'm John Tucker Bloomberg Radio Right.
Speaker 2: John, Thank you well. California is vote count led to
Speaker 2: a testy exchange in an abrupt end to President Trump's
Speaker 2: interview on NBC's Meet the Press. Host Kristin Welker first
Speaker 2: asked about the so called Anti Weaponization Fond of the
Speaker 2: Justice Department. The President called it a great idea and
Speaker 2: said he'd been interested in reviving it.
Speaker 8: People have been badly heard. They've committed suicide, they've lost
Speaker 8: their jobs, they've lost their families, they've lost their wives,
Speaker 8: they've lost everything. They've lost everything over a fake weaponization
Speaker 8: of government.
Speaker 2: But the conversation took a turn when Welker challenged the
Speaker 2: President on his claims that the slow vote County, California
Speaker 2: proves the election was rigged.
Speaker 8: Do you think it's appropriate that they have an election
Speaker 8: and five days later they're nowhere close to pick it a.
Speaker 3: Local officials acknowledge they are slow.
Speaker 6: They're urging.
Speaker 8: They're crooked.
Speaker 9: There urging the votes to.
Speaker 6: Be counted quickly.
Speaker 4: That's how they very crooked, just like your crooked, Your
Speaker 4: press's crooked, and Meet the President's crooked.
Speaker 2: President Trump then walked out of the interview, calling ABC, CBS,
Speaker 2: CNN and NBC one sided networks.
Speaker 3: Well tonight, Karen, President Trump's going to be in New
Speaker 3: York City for Game three of the NBA Finals, and
Speaker 3: the extra security means major changes for Knicks fans watching
Speaker 3: the game inside and outside Madison Square Garden. Bloomberg's John
Speaker 3: stash Hour joins us with more on that.
Speaker 1: John, Yeah, Nathan, the watch party outside MSG was scrapped.
Speaker 1: The NYPD said the decision was made in conjunction with
Speaker 1: the Secret Service, and there is extra security tonight with
Speaker 1: the President in attendance. Nixts haven't played at the Garden
Speaker 1: in two and a half weeks since May twenty first
Speaker 1: two wins in Cleveland, of course, two thrillion wins in
Speaker 1: San Antonio, and that's why Karl Anthony Towns the NIXT
Speaker 1: bring a two to nothing Finals leads to tonight's Game three.
Speaker 9: It's always great when you get to play the game
Speaker 9: of basketball at his highest level. So to be able
Speaker 9: to lace the shoes up, be able to put the
Speaker 9: jersey on, and be able to see our fans see
Speaker 9: finals basketball after all, this time is going to be
Speaker 9: really really special.
Speaker 1: Tickets said to be going about ten thousand dollars up high,
Speaker 1: and it's close to one hundred grand down loan. More
Speaker 1: on Game three coming up in sports, John stash Aware,
Speaker 1: Bloomberg Radio.
Speaker 2: All right, sounds good, thanks John, Speaking of security concerns.
Speaker 2: Less than a day before thousands of fans are expected
Speaker 2: to descend on neighboring Madison Square Garden, six people were
Speaker 2: injured in a stabbing inside New York's Penn Station. A
Speaker 2: suspect was taken into custody after the attack. Paramedics found
Speaker 2: one victim with serious injuries, two with moderate injuries, and
Speaker 2: two with minor injuries. Authorities did not immediately release details
Speaker 2: about what led to the stabbing or whether the victims
Speaker 2: were targeted. The sprawling rail complex beneath Madison Square Garden
Speaker 2: serves Amtrak, Long Island Railroad, NJ Transit, and New York
Speaker 2: City subway lines, and is used by hundreds of thousands
Speaker 2: of commuters and travelers each day.
Speaker 6: Let's turn to markets now.
Speaker 3: Karen Friday's Wall Street Tech led cell office spreading overseas.
Speaker 3: South Korean stocks plunged as investors pulled back from artificial
Speaker 3: intelligence bets. The COSTPI index tumbled as much as eight
Speaker 3: point eight percent, triggering a twenty minute trail eating halt
Speaker 3: shortly after the market opened. Timothy mo is chief APAC
Speaker 3: Regional equity strategistic Goldman Sachs.
Speaker 10: I think in the longer run this will prove to
Speaker 10: be a technical correction. I'll be it a scary one
Speaker 10: in a longer term bo market. And the underlining fundamentals
Speaker 10: are still very very.
Speaker 3: Strong, Goldman Sachs, Chief APAC Regional equity strategist, Timothy Moe. There,
Speaker 3: the COSPY winded up, closing down eight point three percent,
Speaker 3: and Japan's nie K fell three point nine percent.
Speaker 2: Well, here in the US, Nathan tech stocks are bouncing
Speaker 2: back a bit from last week's some massive selloff NASDAK futures.
Speaker 2: They're up half percent, the Nasdaq one hundred saying four
Speaker 2: point eight percent. On Friday, this year's big winners chip
Speaker 2: stocks plunged ten percent. In Vidia CEO Jensen Wong caused
Speaker 2: the global tech stock sell off a buying opportunity.
Speaker 11: Everybody should be very excited they can now buy stock
Speaker 11: at a cheaper price. And it's absolutely true that the
Speaker 11: future of AI is very bright. It is completely it
Speaker 11: is a foregone conclusion that AI will be infrastructure.
Speaker 2: For the world. And Nvidia CEO Jensen Wong made the
Speaker 2: comments to reporters in Seoul, South Korea, and this morning,
Speaker 2: Morgan Stanley strategist Mike Wilson called the US doc sell
Speaker 2: off a healthy reset. He is a baseline target of
Speaker 2: eight thousand for the S and P five hard, which
Speaker 2: is about eight percent higher from current levels.
Speaker 3: Well the betting on Wall Street after Friday's jobs report,
Speaker 3: Karen is for an interest rate hike this year, but
Speaker 3: President Trump says that the FED would be wrong to
Speaker 3: do that. He talked about the FED and new chairman
Speaker 3: Kevin Warsh on NBC's Meat the Press.
Speaker 4: Kevin's fantastic, and I want him to do whatever he wants.
Speaker 4: I don't want to have a big influence on him.
Speaker 4: But we had a great report. We're doing great, and
Speaker 4: it's unfair that whenever you do great, they want to
Speaker 4: raise interest rates. It should be the opposite.
Speaker 3: President Trump's comments add to the economic and political forces
Speaker 3: tugging at Kevin Warsh as he prepares to chair his
Speaker 3: first policy meeting next week.
Speaker 2: In company news, Nathan Apple's Worldwide Developers Conference cakes off
Speaker 2: today in Coopertino, California. The focus will be on Apple's
Speaker 2: artificial intelligence strategy. The event comes two years after its
Speaker 2: first AID rullout was plagued by subpar technology and delayed features.
Speaker 2: Time now for a look at some of the other
Speaker 2: stories making news in New York and around the world,
Speaker 2: and for that we're joined by Bloomberg's Michael Barr.
Speaker 6: Michael, Good morning, Good morning, Karen.
Speaker 12: The search continues for the shooters that injured twelve people
Speaker 12: over the weekend at the Old West End festival in Toledo, Ohio.
Speaker 12: Authorities believe there were at least two shooters involved, and
Speaker 12: they had probably been firing at one another during the incident.
Speaker 12: Toledo Police Lieutenant Dan Gerkin is asking attendees and eyewitnesses
Speaker 12: to look through their phones and photos to see if
Speaker 12: there's something that could help investigators identify the shooters.
Speaker 6: Talk to your kids.
Speaker 1: There's kids out there that probably know more than all
Speaker 1: of us stand in here, right so they can help
Speaker 1: us out.
Speaker 12: Lieutenant Gerkins says. The ages of the victims range in
Speaker 12: age from fourteen to sixty one, with most in their
Speaker 12: early twenties. European leaders called on Russian President Vladimir Putin
Speaker 12: to agree to an immediate and complete ceasefire that allows
Speaker 12: talks to begin on a lasting peace deal. Britain Germany
Speaker 12: and France made the intervention after a meeting with Ukrainian
Speaker 12: President Voladimir Zelensky at ten Downing Street in London, hosted
Speaker 12: by UK Prime Minister kir Starmer. Zelensky also told Sky
Speaker 12: News about the public letter he's sent to Putin asking
Speaker 12: for a face to face meeting to open up negotiations
Speaker 12: to end the war.
Speaker 13: He said he said many several times publicly that he's
Speaker 13: ready to speak and he wants to stop this war,
Speaker 13: and he said about it publicly, but he doesn't feel
Speaker 13: that the readiness of Kiev.
Speaker 12: Last week and rejected a cease fire proposal by Ukraine.
Speaker 12: Police and Philadelphia are looking for the thieves who stole
Speaker 12: nearly half a million dollars worth of bourbon from a warehouse.
Speaker 12: The Noble Oak bourbon was being stored there and was
Speaker 12: supposed to be shipped to a location in northern New Jersey.
Speaker 12: A twenty one Wine and Spirit COO Rob Coke says
Speaker 12: some thieves stepped in and calmed their way into taking
Speaker 12: the bourbon.
Speaker 11: Unfortunately, rather than going through the regular security protocols, the
Speaker 11: warehouse did not have all of the things they needed
Speaker 11: to actually release that product.
Speaker 12: A twenty one Wine and Spirit coo Rob Coke says
Speaker 12: the thieves didn't even really know what was in the shipment.
Speaker 12: Global news twenty four hours a day and whenever you
Speaker 12: want it with Bloomberg News Now Michael Bark and this
Speaker 12: is Bloomberg Hermy.
Speaker 2: Thanks Michael all the time. Now for our Bloomberg Sports Update,
Speaker 2: and for that we bring in John stash.
Speaker 1: Hour Franks bearing the Honest tickets in New York. It's
Speaker 1: getting through the NBA Finals tonight, but the next hosting
Speaker 1: the Spurs in New York leading the series two nothing.
Speaker 1: Stacy King, who won three NBA championships with the Chicago
Speaker 1: Bulls End, was a very popular color man. With BULLSDV
Speaker 1: passed away. It was only fifty nine. Alex Saverevit twenty
Speaker 1: nine won his first Grand Slam tennis title. It took
Speaker 1: five cents, but he beat Flavio Koboli at the French Open. JT.
Speaker 1: Poston won the Memorial Gulf in Ohio. Nelly Cord of
Speaker 1: the US Women's Open in LA. That's a Bloomberg Sports Update.
Speaker 6: Stay with us.
Speaker 2: More from Bloomberg Day Break coming up after this.
Speaker 12: Coast to Coast on Bloomberg Radio Nationwide on Sirius XM
Speaker 12: and around the world on Bloomberg dot Com and the
Speaker 12: Bloomberg Business app.
Speaker 6: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 3: The US Israeli war where Iran has now crossed the
Speaker 3: one hundred day mark and the prospects for an end
Speaker 3: to the conflict are facing their toughest tests yet with
Speaker 3: Israel retaligating against Iranian strikes. But President Trump says there
Speaker 3: is still a chance for diplomacy.
Speaker 4: We're very close to having a deal, and if we
Speaker 4: don't have a deal, we'll do it one way or
Speaker 4: the other. Either way we win.
Speaker 3: That was President Trump in an interview on NBC's Meet
Speaker 3: the Press heard Sundays on Bloomberg Radio. Joining us from Dubai.
Speaker 3: This morning is Bloomberg Middle East. Corresponded to Birabu Omar,
Speaker 3: and we should clarify Abir that that interview was taped
Speaker 3: before the latest attacks. Can you catch us up on
Speaker 3: what's been happening over the last twenty four hours?
Speaker 5: Good morning, Yeah, Good morning, Nathan. So look, I mean
Speaker 5: you just said it. This is the one hundredth day
Speaker 5: mark for the war in the Middle East, and this
Speaker 5: treasure seems to be regressing quite rapidly this morning. So
Speaker 5: this started yesterday the escalation in the hostilities with Israel
Speaker 5: hitting Hesbela targets or as they call them, terrorist targets
Speaker 5: in Lebanon Hesbula, retaliating by hitting northern parts of Israel,
Speaker 5: and then Israel hits back to the capitol Beirut the
Speaker 5: southern suburbs of the capitol Beirut, killing two people and
Speaker 5: drinks several others. And then this morning, after a phone
Speaker 5: call between President Trump and Prime Minister Bench and Natanyahu,
Speaker 5: where President Trump told him to not retaliate against Lebanon
Speaker 5: or Iran. Only a few hours after that into the
Speaker 5: morning in the Middle East, we're seeing reports of attacks
Speaker 5: in Iran. Those include some western cities in Tehran including
Speaker 5: Esfahan and Karaj and Tabreeze, and then a hit against
Speaker 5: a petrochemical plant in Iran as well, where officials had
Speaker 5: to evacuate personnel. Iran also hitting northern parts of Israel
Speaker 5: this morning. So the situation seems to be escalating quite
Speaker 5: fast this morning, with really no end in sight at
Speaker 5: the moment. President Trump did say before this all unraveled
Speaker 5: that a deal is still imminent, that this is the
Speaker 5: interim Deal or what we've been calling the interim deal,
Speaker 5: which is the MoU that would lead to the opening
Speaker 5: of the Strait of her Moods and then an extension
Speaker 5: of the ceasefire for sixty days. But with all the
Speaker 5: hostilities that we've been seeing since the previous week, we're
Speaker 5: also so Kuwait in the GCC saw its main airport
Speaker 5: getting hit and suffering some significant infrastructure. One really questions
Speaker 5: how sustainable the ceasefire is, and the answer to that is, well,
Speaker 5: it's been pretty fragile over the past two months to
Speaker 5: begin with, but the escalations this morning bring into question
Speaker 5: some further complications that President Trump's going to have to
Speaker 5: look at once the US.
Speaker 6: Is more awake. Well, we have seen signs of escalation
Speaker 6: in the past.
Speaker 3: We've seen the Iran lob rockets at Kuwait and Bahrain
Speaker 3: in the past as well.
Speaker 6: What makes this latest escalation different a beer.
Speaker 5: Well, first starters the fact that this is a direct
Speaker 5: hit at Iran. Right, So, in the past or over
Speaker 5: the past week, what's happened is those hostilities against GCC
Speaker 5: countries have been sort of in the background. They haven't
Speaker 5: happened as significantly as they have last week beginning of
Speaker 5: last week. But the conflict or the hostilities in Lebanon,
Speaker 5: for example, have been going on even since the April
Speaker 5: eighth ceasefire agreement was reached. This is the first such
Speaker 5: attack that you're seeing on Iran itself and not its
Speaker 5: allies in the region. And then even post those attacks
Speaker 5: that happened last week, President Trump did come out and
Speaker 5: say multiple times as a matter of fact, that they
Speaker 5: don't impact that those attacks, while they're not favorable, and
Speaker 5: he did say to Iran that you shot your missiles,
Speaker 5: that's enough. That's a direct quote from the president. He
Speaker 5: did say that those don't impact the wider ceasefire agreement.
Speaker 5: He said that representatives of Hezbolah, the militia in Lebanon
Speaker 5: that's getting attacked that is backed by Iran. He said
Speaker 5: that he got calls from representatives that had agreed to
Speaker 5: the ceasefire, while the public line from Hesbelo was that
Speaker 5: they rejected the ceasefire that we spoke about that was
Speaker 5: agreed between Lebanese officials and Israeli officials in Washington. But
Speaker 5: this timer one has to really look at how serious
Speaker 5: those escalations are.
Speaker 2: This is Bloomberg Daybreak, Your Morning podcast on the stories
Speaker 2: making news from Wall Street to Washington and beyond.
Speaker 3: Look for us on your podcast feed by six am
Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2: You can also listen live each morning starting at five
Speaker 2: am Wall Street Time on Bloomberg eleven three to zero
Speaker 2: in New York, Bloomberg ninety nine to one in Washington,
Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious
Speaker 2: XM Channel one twenty one.
Speaker 3: Plus listen coast to coast on the Bloomberg Business app
Speaker 3: now with Applecarplay and Android auto interfaces.
Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's
Speaker 2: the latest news whenever you want it in five minutes
Speaker 2: or less. Search Bloomberg News Now on your favorite podcast
Speaker 2: platform to stay informed all day long. I'm Karen Moscow.
Speaker 6: And I'm Nathan Hager.
Speaker 3: Join us again tomorrow morning for all the news you
Speaker 3: need to start your day right here on Bloomberg Daybreak