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, Karen.
Speaker 3: The ceasefire between the US and Iran appears fragile this morning,
Speaker 3: even as the US looks ahead to talks this weekend.
Speaker 3: The White House says Vice President JD Vance will lead
Speaker 3: a delegation to Pakistan on Saturday along with Envoys Steve
Speaker 3: Whitcoff and Jared Kushner. Vance says President Trump's terms are clear.
Speaker 4: The deal is a ceasefire, a negotiation. That's what we
Speaker 4: give and what they give is the straits are going
Speaker 4: to be reopened. If we don't see that happening, the
Speaker 4: President is not going to abide by our terms if
Speaker 4: the Uranians are not abiding by their term.
Speaker 3: Vice President JD. Vance spoke to reporters in Hungary. Bloomberg's
Speaker 3: Patrick Sikes reports the terms of the negotiation are in dispute.
Speaker 5: Iran has this ten point plan that it talks about
Speaker 5: being the basis of negotiations. It says that the US
Speaker 5: is accepted that as a basis for talks. The US
Speaker 5: talks about its own fifteen point plan, so it does
Speaker 5: seem we are still some way apart, even on the
Speaker 5: very broad contours of what is up for discussion this weekend.
Speaker 3: That's Bloomberg's Patrick Sikes reporting from Istanbul. President Trump says
Speaker 3: the US military will remain around Iran until the quote
Speaker 3: real agreement is fully complied with. If not, he says
Speaker 3: in a social media post, the real shooting starts. Iran's
Speaker 3: ambassador to Pakistan post it on x that a delegation
Speaker 3: would arrive in Islamabad for this weekend's talks tonight. That
Speaker 3: post has since been deleted without explanation.
Speaker 2: Well Nathan, Iranian officials say israel strikes in Lebanon yesterday
Speaker 2: violated the terms of the ceasefire agreement Israel launched. It's
Speaker 2: the largest assault yesterday on Lebanon since the start of
Speaker 2: its invasion. Again, more from Bloomberg. Israeli Bureau Chief Ethan
Speaker 2: Brauner in Tel Aviv.
Speaker 6: Everyone has understood that when the US says the war
Speaker 6: has to come to an end and Iran, Israel will agree.
Speaker 6: Israel is insisting on more independence in terms of what
Speaker 6: it does in Lebanon, and generally the US has allowed
Speaker 6: it to do that. But Vance's statement suggests that they've
Speaker 6: said to the Israelis, do us a favor. Here we're
Speaker 6: in the middle of this negotiation, because what the Israelis
Speaker 6: did yesterday was their biggest single moment operation since the
Speaker 6: page Or thing two years ago. One hundred planes dropped
Speaker 6: on targets simultaneously over a period of one to five
Speaker 6: minutes something like that, and killed what they said was
Speaker 6: hundreds of kihuzbela operative.
Speaker 2: And Bloomberg Israeli Bureau chief Ethan Rauner, Lebanon's Health Ministry
Speaker 2: said at least one hundred and eighty two people were
Speaker 2: killed and hundreds wounded in the operation.
Speaker 3: Karen, President Trump is lashing out at NATO's stance on
Speaker 3: the Iran war following a meeting at the White House
Speaker 3: with the Alliance's Secretary General Mark Ruta. Here is route
Speaker 3: after that meeting with the President.
Speaker 7: Well, let me be absolutely clear, is really disappointed and
Speaker 7: with many nature allies, and I can see his points.
Speaker 7: But at the same time I was also able to
Speaker 7: appointed to the fact that the large majority of European
Speaker 7: nations has been helpful with basing, with logistics, with overflights,
Speaker 7: with making sure that they lift up to the commitments.
Speaker 3: NATO Secretary General Mark Rota made those comments on CNN.
Speaker 3: A senior NATO official says the US wants specific commitments
Speaker 3: from European allies on their pledge to help secure the
Speaker 3: Strait of horm moves after the fighting in Iran stops.
Speaker 3: Wants the countries to present concrete plans to ensure navigation
Speaker 3: through the waterway within days.
Speaker 2: Nathan FBI director Cash battels As, a former employee of
Speaker 2: the US military, has been arrested for leaking classified information
Speaker 2: to the media. It comes two days after President Trump
Speaker 2: threatened criminal charges for journalists who published details of a
Speaker 2: military operation to rescue two US airmen in Iran.
Speaker 3: When we turned out to the markets, Karen oil is
Speaker 3: on the rise once again as the Strait of Hormones
Speaker 3: remains largely blocked. Brent crude is up three point two percent,
Speaker 3: trading a just shy of ninety eight dollars of Barrow
Speaker 3: West Texas Intermediate. It's not too far behind, up three
Speaker 3: point four percent. Yesterday, Brent slumped thirteen percent, its biggest
Speaker 3: one day drop in six years. Ed Morris is senior
Speaker 3: advisor and commodities analyst at heart Tree Partners.
Speaker 8: I think we're going to see even more volatility than
Speaker 8: we've had in the past, and that's been a lot
Speaker 8: of volatility. We don't know what's going to happen in
Speaker 8: the next two months, let alone the next two weeks,
Speaker 8: and no matter what happens in terms of a declaration
Speaker 8: of a ceasefire and an effort to do it, we're
Speaker 8: not going to see ships moving through the strait except
Speaker 8: all those lined up trapped north of the strait of
Speaker 8: hormones that want to get out.
Speaker 3: Hartree Partners Commodities analyst Ed Moore says even once hormus
Speaker 3: transit picks up, it could take weeks or possibly longer
Speaker 3: to return to normal.
Speaker 2: And Nathan stocks are giving up some of yesterday's big gains.
Speaker 2: Right now, SMP futures are down four tenths of up percent. Yesterday,
Speaker 2: all three major indexes gained at least two and a
Speaker 2: half percent. The Dow searched more than thirteen hundred points.
Speaker 2: Pria Misras, a portfolio manager at JP Morgan Asset Management,
Speaker 2: some of.
Speaker 9: That heated rhetoric over the last few days. I fel
Speaker 9: like it was coming to a head, So hopefully there
Speaker 9: is a cease five. I think we're watching headlines like
Speaker 9: everyone is. I mean, there's a lot of questions. I
Speaker 9: think as a sigh of relief, but there's a lot
Speaker 9: of details around who controls the straight of foremost is
Speaker 9: two weeks enough to get some sort of a permanence.
Speaker 2: To this and JP Morgan Asset Management portfolio manager Pria
Speaker 2: Misra notes the S and P five hundred broke above
Speaker 2: its two hundred day and fifty day moving averages yesterday.
Speaker 3: And that rally Karen N's the second biggest one day
Speaker 3: gain ever for the world's richest people. In fact, the
Speaker 3: five hundred wealthiest added two hundred and sixty five billion
Speaker 3: dollar dollars to their collective fortunes as as stock sword.
Speaker 3: The surge comes almost exactly one year after the richest
Speaker 3: gained a record three hundred and four billion dollars in
Speaker 3: the day following President Trump's declaration of a ninety day
Speaker 3: pause on his planned Liberation Day tariffs. Meta CEO Mark
Speaker 3: Zuckerberg was the biggest gainer on Bloomberg's Wealth Index yesterday.
Speaker 3: He added twelve point eight billion dollars to his net
Speaker 3: worth after Meta shares rose six and a half percent.
Speaker 2: Well, Nathan Let's turn to the economy. Now men, it's
Speaker 2: the fedes March meeting showed a growing number of officials
Speaker 2: worried the Iran war could stoke inflation. Most officials worried
Speaker 2: a protracted war could hurt the labor market and warrant
Speaker 2: lower interest rates. At the same time, many policymakers highlighted
Speaker 2: the risk to inflation that might ultimately warrant rate increases.
Speaker 3: Well, today, Karen, Fed officials and investors get a slew
Speaker 3: of economic data. Let's get a preview from Bloomberg's Michael McKee.
Speaker 10: It's a day of important but mostly before the war data.
Speaker 10: The PCE Inflation Index is the Fed's key measure. Both
Speaker 10: headline and core forecast to be little changed, but the
Speaker 10: data are from February, before the war started and energy
Speaker 10: prices skyrocketed. The same caveat holds for consumer spending and incomes.
Speaker 10: Any sign of a gas price led spending slowdown would
Speaker 10: be premature. Although nationwide average pump prices were rising through February,
Speaker 10: the high was only two dollars and ninety eight cents
Speaker 10: on the last day of the month. More current, initial
Speaker 10: jobless claims for last week. Claims have been holding at
Speaker 10: a very low level, suggesting companies aren't shedding workers a
Speaker 10: sign of labor market stability. A surprise move up or
Speaker 10: down would cause a market reaction. Michael McKee, Bloomberg Radio.
Speaker 2: It's time now for a look at some of the
Speaker 2: other stories making news in New York and around the world,
Speaker 2: and for that we're joined by Bloomberg's Michael Barr Michael
Speaker 2: good Morning, Good.
Speaker 11: Morning, Karen. Long Island. Serial killer Rex Kureman entered a
Speaker 11: guilty plea in the Gilgol Beach murders, with the families
Speaker 11: of the victims and the court room and his ex
Speaker 11: wife of twenty seven years and daughter watching Hureman pleaded
Speaker 11: guilty Wednesday to murdering eight women in a nearly two
Speaker 11: decade killing spree starting in nineteen ninety three. Heureman strangled
Speaker 11: as victims who he hired as escorts. Suffolk County District
Speaker 11: Attorney Ray Tierney, we.
Speaker 8: Are honored and thankful for having being able to have
Speaker 8: played a small role in obtaining a small measure of
Speaker 8: justice for these families.
Speaker 11: Da Ray Tierney says he believes there was just a
Speaker 11: point where Heureerman was exhausted and did not want to
Speaker 11: go on defending himself. At least one person is dead
Speaker 11: after a seventh story garage under construction collapsed in Philadelphia Wednesday.
Speaker 11: Emergency crews are searching for survivors in the debris, but
Speaker 11: Fire Commissioner Jeffrey Thompson says the structure remains unstable.
Speaker 12: We have to very carefully and methodically deconstruct this building
Speaker 12: for the safety of the people working on it and
Speaker 12: ultimately for the safety of the first responders who will
Speaker 12: continue to search.
Speaker 11: Commissioner Thompson says the collapse started in a stairwell of
Speaker 11: the structure. The Artemis two crew is heading back to
Speaker 11: Earth after flying behind the Moon. The crew of the
Speaker 11: Orion spacecraft is carrying out some final tests on the
Speaker 11: way home. In a news conference from space pilot Victor
Speaker 11: Glover reflected on the mission.
Speaker 13: We have to get back. There's so much data that
Speaker 13: you've seen already, but all the good stuff is coming
Speaker 13: back with us. There's so many more pictures, so many
Speaker 13: more stories, and gosh, I haven't even begun to process
Speaker 13: what we've been through.
Speaker 11: Artemis two is scheduled to splash down in the Pacific
Speaker 11: Ocean Friday night. Global News twenty four hours a day
Speaker 11: and whenever you want it with Bloomberg News Now, not
Speaker 11: Michael Barrn. This is Bloomberg Hearing.
Speaker 1: Thanks Michael.
Speaker 2: All time now for our Bloomberg Sports Update, and for
Speaker 2: that we bring in John stash Hour.
Speaker 11: Thanks Dawn.
Speaker 14: The Oklahoma City Thunder defending the NBA champions and favorites
Speaker 14: to win again this year. They beat the Clippers in
Speaker 14: LA to clinch the one seed at home court advantage
Speaker 14: throughout the playoffs after sixty eight wins last year, at
Speaker 14: sixty four was still two games to go. That's the
Speaker 14: third most wins of a two year span in NBA history.
Speaker 14: The Master's ninetieth edition Tee's off today at Augusta. Rory
Speaker 14: McElroy's the defending champions Scottie Scheffler won in twenty twenty
Speaker 14: two and twenty four John ramin twenty three. That's a
Speaker 14: Bloomberg Sports Update.
Speaker 10: Stay with us.
Speaker 2: More from Bloomberg Daybreak coming up after this.
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Speaker 3: Good morning, I'm Nathan Hagards. Day two of the two
Speaker 3: week ceasefire between the US and Irana. The situation remains fragile,
Speaker 3: with Taran accusing the US of violating the agreement through
Speaker 3: Israeli attacks on Lebanon, but Vice President Jady Vance says
Speaker 3: it would be dumb, in his words, to let negotiations
Speaker 3: fall apart over that.
Speaker 4: I think the Iranians thought that the ceasefire included Lebanon,
Speaker 4: and it just didn't. We never made that promise, We
Speaker 4: never indicated that was going to be the case.
Speaker 3: That was Vice President jd Van speaking with reporters in
Speaker 3: Hungary ahead of the negotiations. He said to lead in
Speaker 3: Pakistan this weekend, joining us from Tel Aviv. This morning
Speaker 3: is Bloomberg News. Israel Bureau Chief Ethan Bronner, Ethan, good morning.
Speaker 3: What is the possibility that these Israeli attacks on Lebanon
Speaker 3: could derail this truce?
Speaker 6: Good morning, Good morning, Nathan. Look, I think they're an obstacle,
Speaker 6: but I would be surprised if they derailed the truth.
Speaker 6: I think that the core issue here is the straighter
Speaker 6: for moves, the global movement of oil, and you know,
Speaker 6: these larger golf issues, rather than what to some extent
Speaker 6: has been a side show in Lebanon and his flaw,
Speaker 6: So you know, it's something that's going to be on
Speaker 6: the table, but I don't think it's going to be
Speaker 6: the thing that will cause the problem.
Speaker 3: And in the meantime, the attack we saw yesterday by
Speaker 3: Israel on Hesba of targets in Lebanon was pretty significant
Speaker 3: to say the very least. What does it mean for
Speaker 3: Hezbola's potential going forward?
Speaker 6: Yeah, what happened yesterday, I mean it was some massive
Speaker 6: affair of like a hundred planes attacking within ten minutes
Speaker 6: different spots. The Defense Minister here and the Prime Minister
Speaker 6: both compared it to the attack that Israel carried out
Speaker 6: on his Bola a couple of years ago using those
Speaker 6: rigged cagers which wounded thousands of people. The idea being
Speaker 6: that this was a major intelligence coop. For what Israel
Speaker 6: did yesterday, we don't have a lot of details, but
Speaker 6: they're claiming to have gotten a lot of important his
Speaker 6: Bola people at that time yesterday. So if they did,
Speaker 6: that will of course play a role. But as we've
Speaker 6: seen with Amas with his Bela and indeed with Iran
Speaker 6: eliminating a whole row of people at the top of
Speaker 6: these organizations and countries don't necessarily doesn't necessarily and the
Speaker 6: place their ability to keep act functioning.
Speaker 3: You know, is there a concern in Israel that this
Speaker 3: could lead to a direct Iranian response against Israel.
Speaker 6: There is a concern. I will say that the Home
Speaker 6: Command has told people that they can go back to
Speaker 6: acting more or less normally. School is due to begin,
Speaker 6: the airport has vastly increased its traffic. So while there
Speaker 6: is concern, I would say that the official view is
Speaker 6: that it will not. There have been a few Hisbola
Speaker 6: rocket and missile attacks in the last twelve hours or so,
Speaker 6: but relatively minor, and in the north nothing from Iran.
Speaker 3: In our last thirty seconds. With so much focus on
Speaker 3: the Strait of Horrormus, what is the situation there right now?
Speaker 6: Yeah, the situation seems to be that it's still basically
Speaker 6: blocked by Iran. They stay've handed out a map telling
Speaker 6: people how they could do it. There's some lack of
Speaker 6: clarity about whether they're going to continue to collect fees
Speaker 6: in cooperation with the US. All of that to be negotiated,
Speaker 6: a huge, huge mess for oil and global economic issues.
Speaker 2: Unquestionably, this is Bloomberg Daybreak, your morning podcast on the
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