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 politics.
Speaker 4: With less than a week to go until a possible
Speaker 4: government shut down, the White House is telling federal agencies
Speaker 4: to make plans well beyond what they've done in the past.
Speaker 3: We get the story from Bloomberg's Genus Cervetti.
Speaker 5: The White House Budget Office is telling agencies to plan
Speaker 5: for mass firings during a shutdown. In the past, government
Speaker 5: workers deemed non essential have been furloughed and brought back
Speaker 5: when funding is restored, usually with back pay. This time,
Speaker 5: a White House memo is directing agencies to identify programs
Speaker 5: with discretionary funding that's set to lapse, then draft plans
Speaker 5: to eliminate jobs that don't align with Trump administration priorities.
Speaker 5: House Minority Leader Hakeeen Jeffries posted on x that Democrats
Speaker 5: won't be intimidated by the threat of mass firings. President
Speaker 5: Trump canceled plans to meet with Democrats today on avoiding
Speaker 5: a shutdown. Funds are set to lapse this Wednesday. Gina
Speaker 5: Servetti Bloomberg Radio.
Speaker 2: Gina thank you at top judiciary official as warning federal
Speaker 2: courts will run out of money to fully operate as
Speaker 2: soon as next week if Congress fails to avoid a
Speaker 2: government shutdown. Judge Robert Conrad says the judiciary has funds
Speaker 2: to sustain operations through October third, but tight budgets have
Speaker 2: reduced the ability to extend operations.
Speaker 4: Later today, Karen, President Trump meets with the leaders of
Speaker 4: Turkey and Pakistan. He'll welcome Turkish president Retship tie Up
Speaker 4: Ertawan late in the morning. Ertawan is helping to reset
Speaker 4: ties that have been shaken by tariffs and Turkey's purchases
Speaker 4: of Russian weapons. Turkish officials say today's meeting could clear
Speaker 4: the path for more than fifty billion dollars of deals
Speaker 4: on US liquified natural gas, Lockheed Martin fighter jets, and
Speaker 4: Boeing planes. Then this afternoon, President Trump meets with Pakistan's
Speaker 4: Prime Minister Shabaz Sharif. Pakistan's leaders have nominated President Trump
Speaker 4: for the Nobel Peace Prize. They've credited him with brokering
Speaker 4: a ceasefire with India in May. Pakistan has secured a
Speaker 4: nineteen percent terrifreight with the US, much lower than India's
Speaker 4: rate of fifty percent.
Speaker 2: Let's turn to Late Night Now, Nathan and Jimmy Kimmels
Speaker 2: returned to TV drew his biggest audience ever. At the
Speaker 2: same time, though ABC is preparing for a legal battle
Speaker 2: and blimberge. John Tucker joins us with the details. John,
Speaker 2: good morning, and Hey, let's start with those ratings for
Speaker 2: the show. What did they show?
Speaker 6: Well, Karen, six point two six million people tuned in
Speaker 6: to see Jimmy Kimme alive.
Speaker 7: We are back to work doing our show.
Speaker 6: Compare that to one point five to five million viewers
Speaker 6: the show has averaged this year. This according to Nielsen Data. Well,
Speaker 6: the numbers don't include viewers who watched the program on
Speaker 6: streaming services, and the total was particularly high considering that
Speaker 6: next Our Media and Sinclaire, two large owners of ABC affiliates,
Speaker 6: didn't air the show. Together, they reach about twenty five
Speaker 6: three percent of US households. Now, as far as the
Speaker 6: legal issues, ABC parent Walt Disney preparing for President Trump
Speaker 6: to retaliate the companies, anticipating the Trump administration might go
Speaker 6: after its broadcast TV licenses. Disney's also seeking regulatory approval
Speaker 6: from federal agencies for two deals, one to acquire media
Speaker 6: assets from the NFL, another to merge with Pooboo TV
Speaker 6: with its Hulu Live TV service. Last year, Disney did cave,
Speaker 6: paying sixteen million dollars to settle a lawsuit brought by
Speaker 6: the President over alleged defamatory comments made by ABC News
Speaker 6: hosts George Stephanopoulos, You Know York on John Tucker Bloomberg Radio.
Speaker 4: All right, John, thank you, turning to the economy now.
Speaker 4: Jobless claims, trade and durable goods orders will be released
Speaker 4: later this morning, but the real market focus may be
Speaker 4: on the enormous number of FED speakers we'll be hearing
Speaker 4: from today. Let's get the details from Bloomberg's Michael McKee.
Speaker 8: By the end of this week, there should be no
Speaker 8: question about where individual FED policymakers stand on rap cuts,
Speaker 8: regulation and the dollar. Fourteen of the nineteen members of
Speaker 8: the Rate Setting Open Market Committee are speaking, including seven today.
Speaker 8: New Governor Stephen Myron leads off with an interview on
Speaker 8: Bloomberg Radio this morning, followed by Chicago's Austin Goulsby, Kansas
Speaker 8: Cities Jeffrey Schmid, Governors Mickey Bowman, and Michael Barr Lori
Speaker 8: Logan of Dallas, and Mary Daily of San Francisco. What
Speaker 8: will we learn if CHREMYN. Powell's comments earlier this week
Speaker 8: are any indication. Maybe not much. We've not had much
Speaker 8: in the way of economic data that could shape the
Speaker 8: vote at the end of next month. Michael McKee Bloomberg Radio.
Speaker 2: San Francisco FED President Mary Daly says further interest rate
Speaker 2: cuts are likely needed, but the Central Bank should approach
Speaker 2: those with caution. Daily spoke at an event at the
Speaker 2: University of Utah.
Speaker 9: Now, my own view is that further policy adjustments are likely.
Speaker 9: Will they come right now this year, are going forward?
Speaker 9: It's hard to say. But what's really important is that
Speaker 9: making those policy adjustments will likely be required to balance
Speaker 9: both of our goals. Keep pressure on inflation to bring
Speaker 9: it to price stability, and offer support to the labor
Speaker 9: market to ensure that it stays near full employment.
Speaker 2: San Francisco FED President Mary Daily says she fully supported
Speaker 2: this Central Bank's decision less we to cut interest rates
Speaker 2: for the first time since December.
Speaker 4: Looking at the equity markets this morning, Karen futures are
Speaker 4: kind of taking a breather this morning, following back to
Speaker 4: back losses on Wall Street. Amanda Agatti is chief Investment
Speaker 4: Officer of Asset Management at P and C Banks.
Speaker 3: She remains bullish.
Speaker 10: With the FED and rate cutting mode here. The backdrop
Speaker 10: is pretty supportive for markets, but I think at some point,
Speaker 10: you know, things are going to get a little bit choppy.
Speaker 10: You know, we can't be priced for perfection here in
Speaker 10: a backdrop that is not necessarily perfect. But I do
Speaker 10: think that the earnings growth backdrop in particular looks really
Speaker 10: interesting and somewhat bullish heading into twenty twenty six.
Speaker 4: P and C Bank's Amanda Gotti says stocks may rise
Speaker 4: another three to five percent by the end of this year.
Speaker 2: In company news, Nathan Intel shares are up another three
Speaker 2: and a half percent this morning, following yesterday's six percent gain.
Speaker 2: Bloomberg News has learned that chip maker is seeking an
Speaker 2: investment from Apple. We're told it's part of Intel's effort
Speaker 2: to bolster business now that it's partially owned by the
Speaker 2: US government. Bloomberg's Ryan Gould broke the story.
Speaker 11: This obviously comes on the back of both the US
Speaker 11: government investing in Intel directly one of its largest shareholders,
Speaker 11: and also would potentially follow a five billion dollar investment
Speaker 11: from both in Nvidia and a two billion dollar investment
Speaker 11: from SoftBank. I guess one way to put this all
Speaker 11: together is you know Intel is on the comeback.
Speaker 2: And Bloomber's Ryan Gould reports Intel also has reached out
Speaker 2: to other companies about possible investments and partnerships.
Speaker 4: And Karen HSBC says it's made a tech breakthrough deploying
Speaker 4: quantum computing in financial markets. The bank says it's the
Speaker 4: first time real trades have been used at scale to
Speaker 4: show the potential benefits of this emerging technology. Bloomberg's Tiwa
Speaker 4: Autubio has more from London.
Speaker 12: Now, this wasn't live trading, it was a trial. It
Speaker 12: was also a collaboration with IBM. They used their most
Speaker 12: advanced heron quantum processor and they say that that shows
Speaker 12: they're able to attain a thirty four percent improvement in
Speaker 12: predicting how likely a bond will trade at a given price.
Speaker 4: That was Bloomberg's Tiwa Audobio.
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 were joined by Bloomberg's Michael Barr or
Speaker 2: Michael good Morning, Good.
Speaker 13: Morning, Karen. The motives of a shooter who authorities say
Speaker 13: opened fire from a roof on to a us ICE
Speaker 13: location in Dallas remain unclear. The man used rifle to
Speaker 13: kill one detainee and wound two others in a transport
Speaker 13: man before taking his own life. The suspected gunman has
Speaker 13: been identified as Joshua John and was twenty nine years old.
Speaker 13: Authorities say he seemed to fire indiscriminately. The FBI said
Speaker 13: ammunition found at the scene contained anti ICE messaging. Vice
Speaker 13: President JD. Van spoke about deadly shooting, calling it politically motivated.
Speaker 14: You don't have to agree with Donald Trump's immigration policies,
Speaker 14: but if your political rhetoric encourages violence against our law enforcement,
Speaker 14: you can go straight to hell and you have no
Speaker 14: place in the political conversation of the United States of America.
Speaker 13: House Minority Leader Hakim Jeffries also commented on the shooting,
Speaker 13: saying the level of political violence in the country is
Speaker 13: far too high.
Speaker 7: We need leadership that brings people together, not national leadership that.
Speaker 3: Tears people apart.
Speaker 13: Authority say no ICE agents were injured and the surviving
Speaker 13: detainees are in critical condition. The NVPD arrested a man
Speaker 13: after a tourist was killed and her husband was critically
Speaker 13: injured after they were struck by a vehicle in midtown Manhattan.
Speaker 13: It happened yesterday afternoon at fortieth Street and Fifth Anue.
Speaker 13: According to police, a blue Toyota van hit the pedestrians,
Speaker 13: believed to be tourists from Germany, and then fled the scene.
Speaker 13: The woman, also in her fifties, died at the scene.
Speaker 13: Her husband is in critical condition. The driver, a forty
Speaker 13: year old man, was arrested at Eighth Avenue and West
Speaker 13: thirty eighth Street. Palestinian leader Mak moved to Boss will
Speaker 13: speak before the UN General Assembly today. The Boss will
Speaker 13: speak virtually. Yesterday, Ukraine's President vladimir's Lenski told the UN
Speaker 13: that international diplomacy is failing his country and that the
Speaker 13: only way to stop the fighting is to fight back militarily.
Speaker 15: As Russia's war against my country goes on, people are
Speaker 15: still dying every week, Yet there is no cease fire
Speaker 15: because Russia refuses.
Speaker 13: Global news twenty four hours a day and whenever you
Speaker 13: want it with the Bloomberg News. Now now, Michael Barn,
Speaker 13: this is Bloomberg.
Speaker 6: Karen.
Speaker 2: Thanks Michael, time now for our Bloomberg Sports Update, and
Speaker 2: for that we bring John Stashauers.
Speaker 16: Thanks, Garrener's a big knight for American laying home run hitters.
Speaker 16: In New York, Aaron Judge two home runs numbers fifty
Speaker 16: and fifty one on the season. The Yankees beat the
Speaker 16: White Sox nine to one and they move into a
Speaker 16: tie for first place in the AL East with Toronto.
Speaker 16: And then in Seattle, Cal Riley with two home runs
Speaker 16: numbers fifty nine and sixty the Mariners beat the Rockies
Speaker 16: nine to two. They've won sixty to the last seventeen.
Speaker 16: Seattle has clinched the AL West. They're three teams vying
Speaker 16: to make the last playoff spot in the National League.
Speaker 3: All lost.
Speaker 16: The Mets remade one game ahead of the Reds and Diamondbacks.
Speaker 3: That's the Bloomberg Sports Update.
Speaker 2: Stay with us more from Bloomberg day Break coming up
Speaker 2: after this.
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business opp This is Bloomberg Daybreak.
Speaker 3: Good morning, I'm Nathan Hager.
Speaker 4: Six days to go until a possible government shut down
Speaker 4: in Washington, and the White House is apparently telling agencies
Speaker 4: to make more drastic preparations than they've done before. A
Speaker 4: memo has gone out calling for mass firings if they
Speaker 4: can't reach an agreement with Democrats by Wednesday. House Minordi
Speaker 4: Leader Hakim Jeffrey says Democrats are still willing to negotiate.
Speaker 7: If the government shuts down, it will shut down because
Speaker 7: Donald Trump and Republicans in the House and the Senate
Speaker 7: have made that decision so intentionally inflict pain on the
Speaker 7: American people.
Speaker 3: It was House Minoriti Leader Hakim Jeffries.
Speaker 4: For more on this, we're joined by Bloomberg News editor
Speaker 4: Alexander Pearson and Alexando In the past, when there have
Speaker 4: been government shut downs, the non essential workers get furloughed
Speaker 4: and then when the funding comes back, they usually get
Speaker 4: back pay. But this memo about mass firings does seem
Speaker 4: to take things pretty far.
Speaker 17: Good morning, Yeah, good morning, Nathan, thanks for having me. Yeah,
Speaker 17: that's right. Previously, non essential workers usually we get furlowed
Speaker 17: in this kind of situation and then return and get
Speaker 17: back pay. But this memo from the Office of Management
Speaker 17: and Budget, which was sent out yesterday to federal agencies
Speaker 17: actually outlines or actually asked for plans to fire those
Speaker 17: non essential workers or at least some of them, but
Speaker 17: are not aligned with Trump administration priorities. If there is
Speaker 17: no government funding resolution by the end of the month,
Speaker 17: and that certainly is you know, new and quite a
Speaker 17: significant move by this administration.
Speaker 4: Of course, this comes just a couple of days after
Speaker 4: President Trump was set to meet with Democrats at the
Speaker 4: White House to try to come to some kind of
Speaker 4: impass around the healthcare demands that Democrats have made.
Speaker 3: That meeting has been called off.
Speaker 4: Could we view this as potentially a negotiating tactic on
Speaker 4: the White House's part.
Speaker 17: Yeah, I think that's accurate. I think this is most
Speaker 17: likely an attempt by the administration to up the ante
Speaker 17: on Congressional Democrats who haven't budged from the provisions that
Speaker 17: they want to add to the stopgap measure to fund
Speaker 17: the government. And certainly, you know, if Democrats will not
Speaker 17: be wanted to be seen to be the party that
Speaker 17: a were associated with the government shut down, but also
Speaker 17: a government shutdown that could lead to mass firings of
Speaker 17: federal employees, especially after all of the firings that have
Speaker 17: occurred in the federal government since the Trump administration took
Speaker 17: office in January.
Speaker 4: Yeah, and we've seen reports that those firings have been
Speaker 4: reversed in some cases that some agencies may have felt
Speaker 4: like the layoffs went too far. Where are Democrats on
Speaker 4: this right now? What is the reaction from the Democratic
Speaker 4: Party to this memo?
Speaker 17: Right now? The reaction has been, you know, understandably hostile.
Speaker 17: Hakim Jeffries tweeted out overnight responding to a report on
Speaker 17: this memo that you know, this was unacceptable was essentially
Speaker 17: his message to Russell Void, the head of the Office
Speaker 17: of Management and Budget. So their message is very much,
Speaker 17: you know, we're not intimidated by this tactic. We're going
Speaker 17: to continue making the demands that we've been making to
Speaker 17: fund the government past September thirtieth. So that's the message
Speaker 17: right now. Whether you know they'll be able to stick
Speaker 17: to that for the next few days, you know, which
Speaker 17: we have.
Speaker 4: To see and in just thirty seconds, I mean, if
Speaker 4: this layoff a process goes forward, I.
Speaker 3: Mean that could have a major economic impact, couldn't it.
Speaker 17: That's true? Yeah, I mean, you know, government spending obviously
Speaker 17: makes up quite a significant chunk of economic activity, particularly
Speaker 17: the federal government. So you know, the longer a shutdown
Speaker 17: drives on, the more of an impact it can have
Speaker 17: on overall economic activity. So you know, both sides will
Speaker 17: ultimately want to come to a resolution if it comes
Speaker 17: to a shutdown, but obviously they want to avoid a
Speaker 17: shutdown to begin with. So the next few days are
Speaker 17: going to be very interesting to see who might, you know,
Speaker 17: compromise first to try and get.
Speaker 13: To a resolution.
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