Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning. I'm Nathan Hager.
Speaker 1: And I'm Karen Moscow. Here are the stories we're following today.
Speaker 2: Karen, we begin with the Supreme Court decision that could
Speaker 2: reshape the twenty twenty four presidential race and alter the
Speaker 2: limits of presidential power well beyond this year. The Justice
Speaker 2: is ruled in a six to three vote that former
Speaker 2: President Donald Trump has some immunity from criminal charges over
Speaker 2: his efforts to overturn the twenty twenty election. Last night,
Speaker 2: President Biden went before the cameras at the White House
Speaker 2: to say the High Court set a dangerous precedent.
Speaker 3: No one, no one is above the law, not even
Speaker 3: the President of the United States. With today's Supreme Court decision,
Speaker 3: I'm presidential immunity that fundamentally changed for all, for all
Speaker 3: practical purposes. Today's decision almost certainly means that there are virtually.
Speaker 2: No limits or And now President Biden says us up
Speaker 2: to voters to render a judgment on Trump and decide
Speaker 2: whether his actions on January sixth make him unfit for office.
Speaker 1: Well now, Nathan, former President Trump is looking to take
Speaker 1: his victory at the Supreme Court into new York. His
Speaker 1: lawyers have taken the first steps to have his criminal
Speaker 1: hush money convictions tossed out now that the High Court
Speaker 1: has found he has substantial immunity. Trump is due for
Speaker 1: sentencing next week on the thirty four felony counts. His
Speaker 1: legal team is asking for a delay to allow time
Speaker 1: for briefing and arguments.
Speaker 2: I'm sticking with presidential politics careen. The Democratic National Committee
Speaker 2: is now considering formally nominating Joe Biden as early as
Speaker 2: this month, nearly a month before their convention. Bloomberg's Amy
Speaker 2: Morris reports from Washington.
Speaker 4: The strategy is to ensure that President Biden is on
Speaker 4: November ballots and stamp out any intra party chatter of
Speaker 4: replacing Biden after last week's poor debate performance. A potential
Speaker 4: date for Biden's nomination is July twenty first, when the
Speaker 4: Democratic Convention's create Udentials Committee meets. Virtually that's according to
Speaker 4: people familiar with the matter who spoke on condition of anonymity.
Speaker 4: The panel is meeting to finalize procedures before the party's
Speaker 4: convention in Chicago starts August nineteenth. In Washington, Amy Morris
Speaker 4: Bloomberg Radio.
Speaker 1: Amy, thank you all. Despite Biden's debate performance. The President's
Speaker 1: campaigns says it raised one hundred and twenty seven million
Speaker 1: dollars in June. The hall is the Biden campaign's best
Speaker 1: fundraising month of the election cycle. Biden AD's have pointed
Speaker 1: to their ability to rake in cash despite his performance
Speaker 1: as evidence the President retained his party support and had
Speaker 1: not irrevocably damaged his campaign.
Speaker 2: It's turned to politics overseas now. Karen French President, Emmanuel
Speaker 2: mccrone's centrist Alliance and the left wing New Popular Front
Speaker 2: are considering pulling candidates from the second round of parliamentary
Speaker 2: voting in a bid to stop the far right. The
Speaker 2: National Rally and it's allies won the largest share of
Speaker 2: the vote in the first round, with just over thirty
Speaker 2: three percent. Now, an outright majority for Marine La Penn's
Speaker 2: party or a hung parliament are the most likely eventualities.
Speaker 2: Alan Katz is Bloomberg's bureau chief in Paris.
Speaker 5: If you're in the financial market, your best case scenario
Speaker 5: is nothing happens over the next three years. This is
Speaker 5: very hard for French people to accept the idea that
Speaker 5: you might spend a long time not legislating, not really
Speaker 5: doing anything it's very different. You know, if you're American,
Speaker 5: that sort of you're like, well, actually, that's way it's
Speaker 5: been for most of the time, for the last twenty
Speaker 5: or thirty years, but here it's not. France is sort
Speaker 5: of a semi presidential semi parliamentary system. Usually the government
Speaker 5: that the executive branch has a majority in parliament and
Speaker 5: can basically pass whatever they want.
Speaker 2: Bloomberg Paris Bureau chief Allan Katz says the second round
Speaker 2: of voting takes place Sunday. Stocks in France are lower
Speaker 2: this morning. They've now wiped out nearly all of yesterday's games.
Speaker 6: Well.
Speaker 1: Here in the US, Nathan futures are lower. Ahead of
Speaker 1: the session on Wall Street, automakers will be in focus,
Speaker 1: with car makers releasing monthly sales data. Analysts are expecting
Speaker 1: Tesla to report another quarter of sales and dan Ives
Speaker 1: covers the ev maker for web Bush Securities.
Speaker 7: I think Tesla bet Whisper numbers four fifteen K four
Speaker 7: to twenty and this marks what I believe is the
Speaker 7: worst in the rearview mirror. The comeback story for Musk
Speaker 7: and Tesla has begun, which is why we see a
Speaker 7: bold case for the stock going into the next six.
Speaker 1: Months, when Bush's dan ives as a two hundred and
Speaker 1: seventy five dollars price target for Tesla. The stock trading
Speaker 1: around two hundred eight this morning.
Speaker 2: And Microsoft will begin today's session at all time highs Karen.
Speaker 2: As a result, Steve Balmer has now passed Bill Gates
Speaker 2: as the sixth richest person in the world. We get
Speaker 2: more from Bloomberg's Charlie Pellett.
Speaker 8: It is the first time that the former CEO of
Speaker 8: Microsoft has been wealthier than the company's co founder. The
Speaker 8: move came as Microsoft shares rose to another record, bringing
Speaker 8: their total game this year to twenty one percent. The company,
Speaker 8: through its partnership with open Ai, has been one of
Speaker 8: the biggest beneficiaries of the artificial intelligence rally that has
Speaker 8: powered the US stock market higher. More than ninety percent
Speaker 8: of Balmer's one hundred and fifty seven point two billion
Speaker 8: dollar net worth is in Microsoft shares, according to the
Speaker 8: Bloomberg Billionaire's Index in New York. Charlie Pellett Bloomberg Radio.
Speaker 1: Right, Charlie, thank you, and we're also following shares at
Speaker 1: Paramount Global this morning. This after The New York Times
Speaker 1: reported Barry Diller is considering making an offer for control
Speaker 1: of the company. We get more from Bloomberg's Doug Krisner.
Speaker 6: Diller's interest in Paramount is the latest twist and a
Speaker 6: complex and dramatic effort to sell the company. Last month,
Speaker 6: a deal seemed close with Skydance Media. Then talks between
Speaker 6: Skydance and Paramount's controlling shareholder, National Amusements, fell apart. It
Speaker 6: appears Diller's non disclosure agreement with National Amusements was signed
Speaker 6: sometime after the Skydance deal fell through. Now a bit
Speaker 6: to take control of Paramount would be a codea of
Speaker 6: sorts for Diller. He tried to acquire Paramot Pictures in
Speaker 6: the early nineteen nineties. Buddy was outbid by Sumner Redstone,
Speaker 6: the media mogul whose daughter Sherry now controls the company
Speaker 6: through National Amusements.
Speaker 9: In New York.
Speaker 6: I'm Doug Prisoner, Bloomberg Radio.
Speaker 1: All right, Doug, thank you, and shares a. Paramount Global
Speaker 1: up almost three percent this morning. Time now for a
Speaker 1: look at some of the other stories making news in
Speaker 1: New York and around the world. For that, we're joined
Speaker 1: by Bloomberg's Michael Barr. Michael, good morning.
Speaker 9: Good morning, Karen Hurricane Beryl is strengthened to Category five
Speaker 9: status as it crosses islands in the southeastern Caribbean. It's
Speaker 9: the earliest Cat five hurricane in the Atlantic ever. Beryl
Speaker 9: ripped off doors, windows and roofs and homes. Grenada's Prime
Speaker 9: Minister Dick and Mitchell said late last night that one
Speaker 9: person had died and authorities had not been able to
Speaker 9: assess the situation on some hard hit islands.
Speaker 7: The expectation is that the damage in Kaikwon pet Machnik
Speaker 7: is going to be extreme.
Speaker 9: Early today, Beryl's wins increased to one hundred and sixty
Speaker 9: five miles per hour. It is forecast pass near Jamaica tomorrow.
Speaker 9: A Massachusetts judge declared to miss trial in the case
Speaker 9: of Karen Reid, the woman accused of running over her boyfriend,
Speaker 9: a Boston police officer, with their suv and leaving him
Speaker 9: to die in a snowstorm. In twenty twenty two. Jurors
Speaker 9: were in their fifth day of deliberations when the four
Speaker 9: person eventually told the judge that they hadn't reached a
Speaker 9: unanimous verdict. Judge Beverly canone.
Speaker 1: To continue to deliberate would be feudal and only serve
Speaker 1: to force us to compromise these deeply held beliefs.
Speaker 9: Defense attorney Alan Jackson celebrated the decision outside the courthouse.
Speaker 10: This is what it looks like when you bring false
Speaker 10: charges against an innocent person.
Speaker 9: Reed must return to a Massachusetts court room later this
Speaker 9: month and stand trial for the death of Brian O'Keefe again.
Speaker 9: The Israeli Army has ordered a mass evacuation of Palestinians
Speaker 9: for much of Gaza's second largest city, con Unis. The
Speaker 9: order is a sign that Israeli troops could soon return
Speaker 9: to the southern city. It is also in the indications
Speaker 9: that Hamas has regrouped there. We're learning several US military
Speaker 9: bases across Europe were put under a heightened state of alert,
Speaker 9: a force protection condition, over the weekend. It is the
Speaker 9: second highest state of alert that applies when an incident
Speaker 9: occurs or intelligence is received indicating some form of terrorist action.
Speaker 9: Deputy Press Secretary Sabrina Singh spoke during Monday's Pentagon briefing
Speaker 9: not related to a single threat, but it was due
Speaker 9: to a combination of factors, potentially things impacting the safety
Speaker 9: and security of service members stationed in the European theater,
Speaker 9: The Pentagon. Sabrina Singh says the height and alert was
Speaker 9: done out of an abundance of caution. Global news twenty
Speaker 9: four hours a day and whenever you want it with
Speaker 9: the Bloomberg News Now. I'm Michael Barr, and this is Bloomberg.
Speaker 1: Karen Ray, Michael Barr, thank you time now for the
Speaker 1: Bloomberg Sports Update with John Stashauer.
Speaker 11: John, good morning, Good morning Carrion. It's a busy day
Speaker 11: for the NBA champion Boston Celtics. First they rewarded Derek
Speaker 11: White with a four year, one hundred and twenty six
Speaker 11: million dollar extension, and then they rewarded Jason Tatum with
Speaker 11: a super Max deal of five years, three hundred and
Speaker 11: fifteen million, So Tatum will make sixty three million a year,
Speaker 11: most in history. And the Celtics have been put up
Speaker 11: for sale. Wick Grossbeck became majority owner in two thousand
Speaker 11: and two with a purchase price of three hundred and
Speaker 11: sixty million. The Celtics have been valued at four point
Speaker 11: seven billion. Klay Thompson leaving the Warriors after thirteen seasons
Speaker 11: and four championships. He's headed to Dallas, and Isaiah Hartenstein
Speaker 11: is leaving the Knicks headed for Oklahoma City, which means
Speaker 11: the Knicks need a center. They may resign Tresca Sachua.
Speaker 11: There's also NHL free agency, and among the signings Steven
Speaker 11: Stamcos with Nashville. He had spent his entire sixteen year
Speaker 11: career with Tampa Bay Mets. The Nationals first of four
Speaker 11: in DC three three in the tenth inning, oh in
Speaker 11: two the count, Harvey ready. He delivers swung on, hitting
Speaker 11: the air deep center field.
Speaker 2: Young drifting back to the warning track, turns at.
Speaker 4: The wall, gone, go ahead, three run home run J D.
Speaker 4: Martinez six, three Mets.
Speaker 11: In the tenth WCBS, Mets weren't done. Francisco Alvarez his
Speaker 11: first ever triple, scored another run and then a two
Speaker 11: run homer by Jose Iglesias, and the Mets needed that
Speaker 11: because the Nats scored four in the bottom of the tenth.
Speaker 11: Mets won ninety seven. They won without Brandon Nimmo. He
Speaker 11: fainted in his hotel room, suffered a gash on his
Speaker 11: head with no concussion. Nemo hopes to play tonight in
Speaker 11: Kansas City. Was the end of group play in Copa
Speaker 11: America in the US. After getting upset by Panama had
Speaker 11: to win to advance. Lost one Nilta Uruguay, who scored
Speaker 11: sixty six minute the US is out and Wimbledon Arena
Speaker 11: Sabalanca set in third Withdrew with a shoulder injury. Opening
Speaker 11: day wins for Coco Goff, Carlos Alcaraz and Yanni Center
Speaker 11: Josh Dashtan. We're Bloomberg's Karen.
Speaker 9: Coast to Coast on Bloomberg Radio nationwide on Syrias XM,
Speaker 9: and around the world on Bloomberg dot Com and the
Speaker 9: Bloomberg Business app.
Speaker 11: This is Bloomberg Daybreak.
Speaker 8: Good morning.
Speaker 11: I'm Nathan Hager.
Speaker 2: President Biden is blasting the Supreme Court's final decision of
Speaker 2: its term giving presidents some immunity from criminal prosecution over
Speaker 2: official acts.
Speaker 3: This is a fundamentally new principle, and it's a dangerous
Speaker 3: precedent because the power of the office will no longer
Speaker 3: be constrained by the law, even including the Supreme Court
Speaker 3: of the United States.
Speaker 2: And in remarks last night from the White House, the
Speaker 2: President said the decision now leaves voters with a choice
Speaker 2: whether former President Donald Trump's actions on January sixth make
Speaker 2: him unfit to return to the White House for more.
Speaker 2: We're joined by Bloomberg's Kevin Whitelaw, who covered Washington for
Speaker 2: more than two decades. Kevin, Good Morning. This decision obviously
Speaker 2: does have far reaching consequences when it comes to the
Speaker 2: power of the president's see but this president really seems
Speaker 2: to be hoping that it reframes the stakes of this
Speaker 2: year's race as well well.
Speaker 10: I think he's sort of making about the only argument
Speaker 10: he can at this point. This really is a blow
Speaker 10: to Democrats hopes that the legal process would continue to
Speaker 10: sort of catch up with with Donald With with Donald Trump,
Speaker 10: the sort of delays the remaining case is likely through,
Speaker 10: you know, past past the election date, and so that
Speaker 10: sort of leaves Biden with only one remaining argument. And
Speaker 10: I do think the sweep of this ruling, even though
Speaker 10: obviously it's essentially kicking the case, the main case against Trump,
Speaker 10: back to the court for some more review, it still
Speaker 10: basically is sweeping enough that it does say the president
Speaker 10: has pretty unlimited authority to do anything that's considered an
Speaker 10: official act. And you know, so I think has a
Speaker 10: lot of people hearkening back to the Nixon Richard Nixon
Speaker 10: remarks years ago about you know, if the president does
Speaker 10: it by definition, it's not a crime. That's pretty close
Speaker 10: to what the Supreme Court just said.
Speaker 2: So then I guess it shouldn't come as too much
Speaker 2: of a surprise that following the High Court's decision, the
Speaker 2: president's legal team went right back up to New York
Speaker 2: and said, we need to toss out the hush money
Speaker 2: convictions as well.
Speaker 10: Yeah, well, I mean it makes sense. They've made the
Speaker 10: argument before, they'll make it again. I think that one's
Speaker 10: a little harder to make because obviously a lot of
Speaker 10: the actions came before the election, but there were some
Speaker 10: of the documents involved in the case, and some of
Speaker 10: the checks were cut after, you know, after he took office,
Speaker 10: So it's gonna be a little hard to call that
Speaker 10: part of the official acts of being president. But that's
Speaker 10: probably not going to That's obviously not going to stop
Speaker 10: him from trying, And.
Speaker 2: Obviously the president is hoping that this decision takes some
Speaker 2: of the focus off his debate performance and the questions
Speaker 2: about his age and mental fitness raised once again following
Speaker 2: that really rough performance for him last week.
Speaker 11: Does that do that well?
Speaker 10: I think it's probably the only play he has, and
Speaker 10: it was probably always his best play, frankly is essentially
Speaker 10: making this into an anti Trump versus Trump kind of
Speaker 10: kind of performance. I do think that, you know, we've
Speaker 10: seen that in twenty twenty the anti Trump vote was
Speaker 10: a very motivated vote and could well be again. And
Speaker 10: certainly this does reframe once again that sort of remark
Speaker 10: that that Trump had made at one point about wanting
Speaker 10: to be a dictator on at least day one. I
Speaker 10: do think that that you put those two things together
Speaker 10: and that this does frame it in pretty sharp relief.
Speaker 10: You know, we still have several months to go in
Speaker 10: the election. Biden could still bounce back from from that performance,
Speaker 10: and this may be about the only path he has
Speaker 10: to try to convince voters to actually turn out and
Speaker 10: cast a vote for him. It's interesting, Kevin, you know,
Speaker 10: following the debate performance, Who've got this reporting from Bloomberg
Speaker 10: News of the Democratic National Committees thinking of nominating President
Speaker 10: Biden early. And at the same time, the Biden campaign
Speaker 10: is saying it just had its best fundraising month yet
Speaker 10: despite the debate performance. I mean, where do things stand
Speaker 10: now with the Biden campaign. Well, look, I mean I
Speaker 10: think that that what the Biden campaign was, I think
Speaker 10: quietly understood that this the question of the president's age
Speaker 10: was always the biggest question, and so a certain amount
Speaker 10: of the unders of the belief about whether or not
Speaker 10: Biden is you know, too old or is still fit
Speaker 10: to be president, a lot of that was baked in,
Speaker 10: and one debate performance may not change that. To me,
Speaker 10: I think it was more a matter of the debate
Speaker 10: had been a chance for Biden and his campaign to
Speaker 10: reshape that narrative to sort of say, no, you know,
Speaker 10: let's move past this. Well, obviously they can't move past that,
Speaker 10: and so that's going to leave them focusing their best
Speaker 10: efforts on trying to frame this as, hey, look, if
Speaker 10: you want if you don't want Trump, there's only one choice,
Speaker 10: and that's Joe Biden. And by making an early nomination
Speaker 10: that would be one way to at least quell some
Speaker 10: of the conversation out there about whether Democrats are, in fact,
Speaker 10: you know, maneuvering or should maneuver to replace him.
Speaker 2: This is Bloomberg Daybreak Today, your morning brief on the
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