Speaker 1: Live from the Bloomberg Interactive Burger Studios. Is this Bloomberg
Speaker 1: day Break for a Wednesday, August three, two Coming up
Speaker 1: this hour, Nancy Pelosi vows the US will not abandon Taiwan.
Speaker 1: Will have the latest from the House Speaker's controversial frame.
Speaker 1: He also have key results from five state primaries, Plus
Speaker 1: feed officials double down on plants to tighten policy, and
Speaker 1: shares of chip maker a m D slump on a
Speaker 1: lackluster forecast. The Senate has passed the burn Pit Bill
Speaker 1: after an outcry from Vetteran's Plus the January six missing
Speaker 1: text case widens. I'm Michael Barner. More ahead, I'm John
Speaker 1: stash Our in sports, more trains to the Mets and
Speaker 1: Yankees they both lost their games, and Dodgers broadcasting legend
Speaker 1: Vince Gully has passed away. That's all. Strad Ahead on
Speaker 1: Bloomberg day Break on Bloomberg eleven three on New York,
Speaker 1: Bloomberg on Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Syrius XM one nineteen and
Speaker 1: around the world on Bloomberg deal dot com and via
Speaker 1: the Bloomberg Business add Good morning, I'm Nathan Hagard and
Speaker 1: I'm Karen mouscal at US DOT Index futures are higher
Speaker 1: this morning. We are coming up to five o one
Speaker 1: on Wall Street, and we checked the markets every fifteen
Speaker 1: minutes throughout the trading day on bloomberg S and P
Speaker 1: futures up about eight points down, futures up eighty four.
Speaker 1: Nasdack futures are a little changed, and a ten year
Speaker 1: treasury little change yield two point seven four percent. They
Speaker 1: yield on the two year three point oh six percent.
Speaker 1: The euro one point eight against the dollar, and bitcoin
Speaker 1: is at one point two percent to twenty three thousand,
Speaker 1: three hundred dollars. Nathan well Karen investors will be keeping
Speaker 1: an eye on what's happening in Taiwan. Nancy Pelosi's visit
Speaker 1: is making major waves. The House Speaker is pledging continued
Speaker 1: US support for the island despite new threats from China.
Speaker 1: Now more than ever, America's solidarity with Tom Taiwan is crucial,
Speaker 1: and that is the message we are bringing here today.
Speaker 1: Speaking at a meeting with Taiwanese President sighing when Speaker
Speaker 1: Pelosi talked about the recently past bill to boost American
Speaker 1: made semiconductors the CHIPS Bill. All of these members were
Speaker 1: instrumental in passing that important legislation, which we think offers
Speaker 1: great greater opportunity for US Taiwan economic cooperation. Speaker Pelosi
Speaker 1: is the highest ranking elected US official to visit Taiwan
Speaker 1: in a quarter century. China is responding with new military
Speaker 1: drills surrounding the island and fresh trade curbs on fish,
Speaker 1: fruit and sand for construction Well, Nathan, The timing of
Speaker 1: how Speaker Pelosi's trip is being questioned by some, including
Speaker 1: Douglas Lute, a former US Ambassador to NATO. I'm not
Speaker 1: sure exactly what benefit we're getting from the trip, and
Speaker 1: it comes to the comes to a sensitive time, just
Speaker 1: as the three senior Executive Branch officials have regained contact
Speaker 1: with their Chinese counterparts have begun to discuss the ram
Speaker 1: aifications of the war in Ukraine. So it sort of
Speaker 1: sets us back, I think, from some momentum that's been
Speaker 1: established in the last several weeks. And former US Ambassador
Speaker 1: to NATO Douglas Lewt spoke with our Washington correspondent Joe
Speaker 1: Matthew on Bloomberg Sound on Catch the Program weekdays at
Speaker 1: five PM Easter on Bloomberg Radio. Another major political story
Speaker 1: we're following this morning. Karen involves some key primary races
Speaker 1: across the country, and we get the results from Amy
Speaker 1: Morris in our Bloomberg newsroom in Washington. We begin in Michigan,
Speaker 1: where Trump back Republican commentator Tutor Dixon faces Democratic comment
Speaker 1: Gretchen Whitmer and the race for governor in November. Dixon
Speaker 1: won the nomination with of the vote. Three House Republicans
Speaker 1: who voted to impeach Donald Trump, Michigan's Peter Meyer and
Speaker 1: Washington's Jamie Herrera Butler and Dan new House all lost
Speaker 1: their primaries to Trump endorsed candidates. In Missouri, Republican Eric
Speaker 1: Schmidt won the nomination with nearly forty six percent of
Speaker 1: the vote, derailing former Governor Eric Gryden's political comeback. In Arizona,
Speaker 1: Blake Masters won the GOP primary with seven percent of
Speaker 1: the vote, and he'll face incumbent Senator Mark Kelly in November.
Speaker 1: In Kansas, fifty nine percent of voters rejected a proposal
Speaker 1: to outlaw abortion. In Washington, I maybe Morris Bloomberg daybreak,
Speaker 1: All right, Amy, thank you well, a little more on
Speaker 1: that abortion vote. Out of Kansas, fifty of voters chose
Speaker 1: to maintain abortion rights in the state. Turn Out in
Speaker 1: Kansas far exceeded other contests in recent years, totally nearly
Speaker 1: twice as many ballots as in twenty eighteens primary election.
Speaker 1: Let's turn back to markets now, Karen. They are stabilizing
Speaker 1: this morning after yesterday's declines fueled by anxiety over US
Speaker 1: China relations and hawkish comments from the Fed. In fact,
Speaker 1: four FED officials pushed back at the idea that the
Speaker 1: central bank may pivot away from tightening. They say there
Speaker 1: is no sign inflation is easing. Here's Cleveland's Lorettamester. You
Speaker 1: don't talk about recession per se, it's are we growing
Speaker 1: below or above trend? And you know my forecast for
Speaker 1: this year is that will be growing below trend. But
Speaker 1: that's necessary in order to get price increases inflation under control.
Speaker 1: Cleveland's or At Semester helped trigger a surgeon treasury yields yesterday. St.
Speaker 1: Louis Fed President James Bullard says the FED is up
Speaker 1: to the task of tackling inflation. So modern central banks,
Speaker 1: I will try to convince you have more credibility than
Speaker 1: their counterparts in the nineteen seventies. Because of this, it
Speaker 1: seems like the FED and the ECB may be able
Speaker 1: to disinflate in an orderly manner and we'll get a
Speaker 1: relatively soft landing. St. Louis FED President Jim Bull had
Speaker 1: reiterated the Central Bank should probably increase its benchmark rates
Speaker 1: to as high as four percent by the end of
Speaker 1: the year. Nathan several stocks in the move this morning.
Speaker 1: Shares have Advanced micro Devices down five and a half percent.
Speaker 1: That's after the ship maker gave a lukewarm sales four cast.
Speaker 1: The story from Bloomberg Shirley Pillett. It indicates that market
Speaker 1: share gains against Intel will not make up for a
Speaker 1: decline in PC demand, and he said revenue in the
Speaker 1: period will be about six point seven billion dollars. That
Speaker 1: compares with an average annalists estimate of six point eight
Speaker 1: one billion. Under CEO les So Sue am D have
Speaker 1: been taking market share from Intel and benefiting from demand
Speaker 1: for its new powerful server chips, but the outlook shows
Speaker 1: that the company is not insulated from the slowing PC industry,
Speaker 1: which is still the biggest market for its products. In
Speaker 1: New York, Charlie Pellett, Bloombird, debreak. Alright, Charlie. Thanks. Let's
Speaker 1: take an look at some other stocks in the spotlight
Speaker 1: this morning, Live with Bloomberg's John Tucker, Hey John, and
Speaker 1: the arab NB shares slumping in the pre market, down
Speaker 1: over seven percent, Nathan the company missing estimates on bookings
Speaker 1: shares a match plunging this morning, the parent company of
Speaker 1: dating apps like Tender, giving a forecast for revenue of
Speaker 1: the current quarter that falls short of estimates, growth being
Speaker 1: slowed by the fallout from COVID nineteen. PayPal shares there
Speaker 1: are up ten percent pre market after saying activist investor
Speaker 1: Elliott Investment Management now one of the largest shareholders, and
Speaker 1: that cost cutting will save nine million this year. And
Speaker 1: Robert hood market shares little changed. They announced they're eliminating
Speaker 1: almost a quarter of their workforce. Live in New York.
Speaker 1: I'm John Tucker, Bloomberg, Debreak, Tom, thank you. Oil also
Speaker 1: and focus this morning. Traders waiting to see whe they're
Speaker 1: OPEC will heat at US call to increase oil supplies.
Speaker 1: The OPEC plus coalition meeting virtually today, and a Bloomberg
Speaker 1: survey suggests the alliance is more likely to keep output
Speaker 1: steady in September. Straight ahead, your latest local headlines, plus
Speaker 1: a check of sports. This is Bloomberg, Thanks Haring. It's
Speaker 1: five oh seven on Wall Street. We're seventy four degrees
Speaker 1: in Central Park. Pretty decent start on the roads. Will
Speaker 1: fill you in on that in traffic shortly. First, Michael
Speaker 1: Barr is here with what's going on in New York
Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: The Senate passed the Packed Act aimed at helping veterans
Speaker 1: who have been exposed to toxic burn pits. The bill
Speaker 1: passed and an eight six to eleven vote, overcoming Republican
Speaker 1: claims it contains loopholes that would allow indiscriminate spending. Senate
Speaker 1: Democratic Leader Chuck Schumer spoke after the bill passed finally,
Speaker 1: at long last, America lived up to its ideals by saying,
Speaker 1: to our veterans who have been exposed to toxic chemicals
Speaker 1: from burn pitts, we have your back. Senator Schumer says
Speaker 1: the bill will help thousands of sick US veterans. New
Speaker 1: York Congresswoman Carol and Maloney said she didn't believe that
Speaker 1: President Joe Biden would run for re election in Maloney
Speaker 1: is the latest Democratic official to question whether their party's
Speaker 1: leader will seek a second term. The comments came during
Speaker 1: a New York One debate last evening among candidates vine
Speaker 1: for the Democratic primary nomination in New York's twelfth congressional district.
Speaker 1: Because of redistricting, Maloney is running against fellow New York
Speaker 1: House heavyweight Gerald Nadler and lawyer Saras Ptel. The Defense
Speaker 1: Department electronically wiped the phones of some former top officials
Speaker 1: who served under then President Donald Trump. Bloomberg's d Baxter reports,
Speaker 1: and the Department of Defense is confirming that a d
Speaker 1: o J investigation of the missing January six tax is
Speaker 1: now confirmed that, along with accidentally deleting some texts, some
Speaker 1: phones were purposefully wiped after January six. Government lawyers made
Speaker 1: that admission in court filings tied to the Freedom of
Speaker 1: Information Act lawsuit, and the Oversight Group is urging Attorney
Speaker 1: General Merritt Garland to investigate DODS actions in allowing the
Speaker 1: destruction of records potentially relevant to a significant matter of
Speaker 1: national attention and historical importance. In San Francisco, I'm at
Speaker 1: Baxter Bloomberg Daybreak. The State Department of War an American
Speaker 1: citizens traveling overseas of possible retaliation by Al Qaina and
Speaker 1: its supporters after the organization's leader was killed in a
Speaker 1: US drone strike. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: seven hundred journalists and analysts in more than a hundred
Speaker 1: twenty countries. I'm Michael Barr, and this is Bloomberg, Nathan.
Speaker 1: Thank you, Michael five O nine on Wall Street time
Speaker 1: for the Bloomberg Sports Update. Good morning, John Stanh, Good morning, Nathan.
Speaker 1: Vince Scully has passed away. The New York native began
Speaker 1: calling Brooklyn Dodgers game shortly after he graduated from Fordham,
Speaker 1: and he kept the job for sixty seven years. The
Speaker 1: owner of that soothing voice with an unparalleled ability to
Speaker 1: tell stories while calling the game, Vince Scully was a
Speaker 1: true broadcasting legend. Was ninety four Mets and Yankees both
Speaker 1: lost Mets and Washington five to one and their seven
Speaker 1: game win. Stream of Mets fans happy to see Jacob
Speaker 1: Agraham on the mound. Five solid at things. He allowed
Speaker 1: just one run in his season debut. Yankees battled back
Speaker 1: from deficits a couple of times, but in the end
Speaker 1: lost in Seattle at the Stadium eight to six. Yankees
Speaker 1: made a couple more trades before the deadline. They found
Speaker 1: a Joey Gallo taker and the Dodgers. Gallow was a
Speaker 1: complete bust in his time in Pinstripes, betting just one
Speaker 1: fifty nine. The Dodgers gave the Yanks of top pitching
Speaker 1: prospect Clayton Beater in return. Yankees then made a more
Speaker 1: surprising move because George Montgomery has been a solid starting
Speaker 1: pitcher for them, but they did just acquire another starter
Speaker 1: and Frankie Montes, so they ship Montgomery to St. Louis
Speaker 1: for an outfielders Yankees GM and cashman Harrison Vader is
Speaker 1: you know, one of the elite center field UH defenders
Speaker 1: in the game, UM and so he provides a lot
Speaker 1: of lanes for us, I think for our manager when
Speaker 1: he's when he's health in. Vader currently has a foot injury.
Speaker 1: He's a New York native, went to high school at
Speaker 1: Horace Mann and the Bronx. Matt's acquired two players yesterday
Speaker 1: outfielder Darren Rof. They sent J. D. Davis to the
Speaker 1: Giants for him Mets also picked up reliever Michael Gibbons
Speaker 1: from the Cubs. Of course, the big trade yesterday with
Speaker 1: Juan Soto going from Washington to Same Diego. John Skashwar
Speaker 1: Bloomberg Sports. Okay, John, thank you. Right now. SMP futures
Speaker 1: are up eleven points, Staff futures up a hundred nine,
Speaker 1: Nastack futures are higher by twenty three points, the tenure
Speaker 1: treasury is up three thirty seconds, the yield two point
Speaker 1: seven three percent, yield on the two year three point
Speaker 1: zero six percent, and nimex crew down one point two
Speaker 1: percent or dollar fifteen six of barrel. Ahead of the
Speaker 1: OPEC plus meeting. You're listening to Bloomberg Daybreak. Bloomberg Daybreak
Speaker 1: brought to you by Peepack Private Wealth Management. Peapack Private
Speaker 1: Wealth Management knows that a portfolio is more than a
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Speaker 1: Bloomberg dot Com, at the Bloomberg Business at and at
Speaker 1: Bloomberg Quick Tape. This is a Bloomberg Business Flash and
Speaker 1: I'm Cara in Moscow stocks are studying as some of
Speaker 1: investor anxiety over tense US China ties eases, while treasury
Speaker 1: yields and are fluctuating a bit after a slide is
Speaker 1: sparked by hawkish Federal Reserve comments. We checked the markets
Speaker 1: over fifteen minutes throughout the trading day on Bloomberg Right now,
Speaker 1: S and P futures are up nineteen points down, futures
Speaker 1: up on two NASDACK futures up sixty the decks in
Speaker 1: Germany's up three tenths of upper set ten. Your treasury
Speaker 1: little change a two point seven four percent They yield
Speaker 1: on the two year three point six percent NIMEX Scrude
Speaker 1: oil is down one point one percent on ninety seven
Speaker 1: cents at ninety three dollars forty six cents of barrel.
Speaker 1: Comic School is down four tenths per cent or seven
Speaker 1: dollars fifty cents. A seventeen eighty two ten announced the
Speaker 1: euro one point o one nine zero against the dollar,
Speaker 1: British found one point two one eight seven, the yen
Speaker 1: at one thirty three point one four and Bitcoin of
Speaker 1: one and a half percent at twenty three thousand, three
Speaker 1: hundred sixty dollars Today, We're watching for reports on durable
Speaker 1: goods orders and factory orders at at ten o'clock Wall Street, Time,
Speaker 1: CBS and Maderna are among the company's scheduled to report
Speaker 1: earnings today. That's a Bloomberg Business Flash. Now here's Michael
Speaker 1: Barr with Moore on what's going on around the world. Buckle,
Speaker 1: Good morning, Good morning, Karen. Kansas voters refused to change
Speaker 1: the state constitution to declare there is no right to
Speaker 1: an abortion on a fifty nine to forty one percent vote.
Speaker 1: The state Supreme Court decision in twenty nine that grantede
Speaker 1: state constitutional abortion rights remains intact. Hall of Fame broadcaster
Speaker 1: Vin Scully has died. Scully with those beautiful delcent tones,
Speaker 1: broadcast baseball games for the Dodgers for sixties seven years.
Speaker 1: Vin Scully was nine four asked for the games. The
Speaker 1: Yankees lost to the Mariners eight six, The Mets lost
Speaker 1: to the Nationals five one, the Orioles and Red Sox one,
Speaker 1: the A's and Giants lost. Global news twenty four hours
Speaker 1: a day on here and on Bloomberg quick Take, powered
Speaker 1: by more than twenty seven hundred journalists and analysts. More
Speaker 1: than a hundred twenty countries. Michael Barr, and this is
Speaker 1: Bloomberg Naken. All right, Michael, thank you. It is five
Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak as we continue to follow House
Speaker 1: Speaker Nancy Pelosi's trip through Asia, getting ready to leave Taiwan.
Speaker 1: Now a controversial visit given the tensions between the U
Speaker 1: S and China at the moment, and the current is
Speaker 1: with us this morning, Chief Asia Economics correspondent for Bloomberg
Speaker 1: News joining us Li from Hong Kong, and good morning.
Speaker 1: We've heard all the threats from China. We've seen the
Speaker 1: military drills that are about to begin in the next
Speaker 1: day or so. What is the lasting impact or is
Speaker 1: there a lasting impact from how Speaker Nancy Pelosi's trip
Speaker 1: to Taiwan. Well, the impact will start to become clear
Speaker 1: over queen days and perhaps once she leaves. Like you mentioned,
Speaker 1: there have already been some hints or some signs of
Speaker 1: a trade embargo on some Taiwanese goods. So, for example,
Speaker 1: fruits that China imports in Taiwan are now banned. China,
Speaker 1: of course, is existly saying it linked to speaker closest
Speaker 1: with it, but that's obviously the intention of it. There
Speaker 1: there are other restrictions on two way trades come into place.
Speaker 1: For example, China will not export fine SAMs to Taiwan.
Speaker 1: So there's some measures happening on the economical and trade
Speaker 1: tye of things. Now. Of course, I want to move
Speaker 1: forward to the next three days of military drills and
Speaker 1: exercises that we really ring the island of Taiwan and
Speaker 1: go beyond what happened back in the last strange crisis,
Speaker 1: which is back in They're going to have to monitor
Speaker 1: how that happened. There's already been destruction to supply chains.
Speaker 1: The of course TI want strade. It's so crucial an
Speaker 1: artery for global trade, and there's already our colleagues reporting
Speaker 1: from shipping companies and the like having to make the versions.
Speaker 1: China put out a warning to airlines today that they're
Speaker 1: going to have to avoid dangerous owns around Taiwan. There's
Speaker 1: get notification where they should not fly and airlines are
Speaker 1: just in accordingly. For example Pacific, the Hong Kong Airline
Speaker 1: here have to stock up on it on its fuel
Speaker 1: to to make its trips. So these are near term
Speaker 1: tangible response that are happening here and now. Of course,
Speaker 1: as for what it douilds for the broader spectrum of
Speaker 1: the US and ENNE relations will take longer fume clear,
Speaker 1: But you have to feel at early it's not exactly
Speaker 1: going to be positive for those relations either. Yeah, there
Speaker 1: was some expectations, some groundwork laid for presidents need to
Speaker 1: speak with President Biden from the US and the next
Speaker 1: upcoming weeks, if not months. How does this visit by
Speaker 1: Pelosi potentially complicate that? Well, it raises all manner of questions.
Speaker 1: Can these two governments under one hand, reached the brink
Speaker 1: of a crisis that we apparently are with seeing today
Speaker 1: and yet on the other hand go ahead of a
Speaker 1: sort of a parallel stream of talks where the two
Speaker 1: leaders do plan to meet at some point overcoming months.
Speaker 1: I mean, it would have to assume it is a
Speaker 1: negative for those for those prospects. Nonetheless, we'll have to
Speaker 1: see what kind of language competed a Beating and Washington
Speaker 1: overcoming days. Once this trip wraps up, we've already had
Speaker 1: the four minutes of wine. Whine need talking to me
Speaker 1: about how to cupples the complete force. We know that
Speaker 1: China has been eating very hopeish language, and indeed so
Speaker 1: much in fact that some with Don medicines are said
Speaker 1: to be disappointed by the steps that China has taken
Speaker 1: today will be under pressure to continue with their hopeage
Speaker 1: approaching this. But we'll have to see whether or not
Speaker 1: it can be the to you to a point of
Speaker 1: where two leaders believe that they have the face that
Speaker 1: they can leave again without of course either side being
Speaker 1: seen as have a lost out listed. And of course
Speaker 1: this is coming just a few months before Chinese President
Speaker 1: Hi Jin Ping stands for a third term at the
Speaker 1: Party congress later this year. How does his response to
Speaker 1: what's happening in Taiwan feed into that, Yes, if this
Speaker 1: is where politics really does come into it, because there
Speaker 1: was a UNIL money analysts about this trip that regardless
Speaker 1: President she would have to be seen to respond strongly.
Speaker 1: He he would have to be seen to send hope.
Speaker 1: Should know you as over this. But you know, despite
Speaker 1: all the language in the run up to the visit,
Speaker 1: speaker cloths who went ahead with it, And there is
Speaker 1: is now kind of sub thread coming out of China
Speaker 1: that we reported on that people used the social media
Speaker 1: and the lier disappointed that the China response has been
Speaker 1: robust enough, and there are some prominent accusis in the
Speaker 1: former editor of Global Time Stay back to newspaper. He's
Speaker 1: expressing it agrieved to deployment in terms of what has happened,
Speaker 1: But of course we haven't yet seen the full response.
Speaker 1: Like I said earlier, we're now really into military end
Speaker 1: of this response, and over the next three days, China's
Speaker 1: like they're going to ring that island and they're going
Speaker 1: to let off their live rounds and conduct their exercises
Speaker 1: in on scale much bigger than what happened to you
Speaker 1: that ninety nine crisis. So, as I said, due to
Speaker 1: the kind of substory clean China, that the response so
Speaker 1: far has been somewhat muted, we could argue we have
Speaker 1: yet stiful response and we will do overcoming days. Yeah,
Speaker 1: potentially heading into an even more tense weekend. Thanks for
Speaker 1: this end of course, we'll continue following developments and occurring
Speaker 1: with us. This morning, Chief Asia Economics correspondent for Bloomberg
Speaker 1: News with us from Hong Kong. Right now, SMP futures
Speaker 1: are up eighteen points now, futures up a hundred forty two.
Speaker 1: Nastack futures higher by fifty nine points. Tend your treasury
Speaker 1: up one thirty second deal two point seven four percent,
Speaker 1: and I'm ex screwed down almost one percent. Ninety three All,
Speaker 1: there's fifty two cents of barrel. You're listening to. Bloomberg Daybreak,
Speaker 1: Bloomberg eleven three oh weather, lots of sunshine today, a
Speaker 1: high in your ninety degrees. The heat advisory kicks in
Speaker 1: and tomorrow last till Friday hides both days near right
Speaker 1: now seventy four in Central Park, broadcasting live from the
Speaker 1: Bloomberg Interactive Broker Studio in New York, Bloomberg Living freed
Speaker 1: to Washington, d C. Bloomberg nine to Boston, Bloomberg one
Speaker 1: O six one does San Francisco, Bloomberg sixty to the country,
Speaker 1: Sirius XM chto one nineteen and around the globe the
Speaker 1: Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's five thirty on Wall Street. Good morning. I'm Nathan
Speaker 1: Hagar and I'm Karen Moscow. We are just about four
Speaker 1: hours away from the open of US trading. Let's get
Speaker 1: you up to date in the news you need to
Speaker 1: know at this hour, we begin overseas with investors keeping
Speaker 1: an eye on what's happening in Taiwan, Housepiger and Nancy
Speaker 1: Pelosi is planting a continued to US commitment to the island.
Speaker 1: Despite new threats from China, America's determination to preserve democrats.
Speaker 1: The here in Taiwan and around the world remains iron clad.
Speaker 1: Houspiger and Nancy Pelosi was speaking at a meeting with
Speaker 1: Taiwan's president. China is responding to Pelosi's visit with new
Speaker 1: military drills and fresh trade curbs. Or also following key
Speaker 1: primary races across the country, Karen Tutor Dixon, backed by
Speaker 1: Donald Trump, won of the vote for the Republican nomination
Speaker 1: in Michigan's governor's race. He will face Democratic incumbent Gretchen Whitmer.
Speaker 1: In the fall, three House Republicans who voted to impeach
Speaker 1: the former president lost primaries to Trump endorsed candidates in
Speaker 1: Michigan and Washington State, Republican Eric Schmidt secured nearly forty
Speaker 1: of the vote from Missouri's open Senate seat, derailing former
Speaker 1: Governor Eric Brighten's and in Arizona, Blake Masters will face
Speaker 1: incumbent Senator Mark Kelly after winning the GOP primary with
Speaker 1: thirty seven per cent of the vote. All turning to
Speaker 1: markets now, Nathan, they're stabilizing after yesterday's declines fueled by
Speaker 1: geopolitical tensions and hawkish comments from the FED. Four officials
Speaker 1: pushed back against the narrative that the FED may pivot
Speaker 1: away from tightening. Cleveland President Loretta Mester says officials are
Speaker 1: not necessarily talking about a recession, but an outlook for growth.
Speaker 1: My forecast for this year is that will be growing
Speaker 1: below trend, but that's necessary in order to get price
Speaker 1: increases inflation under control. The comments from Cleveland FED President
Speaker 1: Loretta Mester helped trigger a surgeon treasury yields yesterday. Incorporate
Speaker 1: news this morning. Shares of Advanced micro Devices are down
Speaker 1: about five per cent after the company gave a lukewarm
Speaker 1: sales forecast. Other stocks are in the spotlight this morning
Speaker 1: as well, and Bloomberg's John Tucker joins US Live with
Speaker 1: some of those. Good Morning, John, and Nathan. Among the
Speaker 1: most active, Airbnb, issuing a weaker than expected to outlook
Speaker 1: overshadowing otherwise strong results. Shares down over seven percent. Covid
Speaker 1: putting a vamper on dating still dating apparent, hatch projecting
Speaker 1: week revenue for the third quarter. PayPal Holdings confirming that
Speaker 1: Elliott Management took a state hit in the company and
Speaker 1: also announced a cost cutting plan and shares a robin
Speaker 1: Hood Markets little change. The app based brokerage dismissed seven people.
Speaker 1: That's about pent of their staff live in New York.
Speaker 1: I'm John Tucker Bloomberg, debreak. All right, John, Thanks, And
Speaker 1: futures are higher S and P futures have about eighteen
Speaker 1: points down. Futures have one thirty four nast day futures
Speaker 1: of fifty nine straight ahead, your latest local headlines plus
Speaker 1: the check of sports. And this is Bloomberg. Thanks. Hearing
Speaker 1: three on Wall Street, seventy three degrees in Central Park,
Speaker 1: starting to see volume build on the westbound l I E.
Speaker 1: We'll get to the details in traffic first. Michael Barr
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Michael, thank you very much. Nathan, Kansas
Speaker 1: voters have sent a resounding message about their desire to
Speaker 1: protect abortion rights by rejecting a measure that would have
Speaker 1: allowed the Republican and controlled legislature to right and abortion
Speaker 1: restrictions or banned the procedure out right. The vote in
Speaker 1: the red state was the first test of voters feelings
Speaker 1: about abortion since the Supreme Court overturned Roe v. Wade. Meanwhile,
Speaker 1: President Biden today will sign a second executive order intended
Speaker 1: to improve access to abortion services. The order will direct
Speaker 1: the Secretary of Health and Human Services to consider actions
Speaker 1: to help patients travel outside their states for abortions using
Speaker 1: funds from Medicaid. The Senate last night passed the Packed Act,
Speaker 1: aimed at helping veterans who have been exposed to toxic
Speaker 1: burn pits. Senate Democratic lead to Chuck Schumer credited veterans
Speaker 1: who protested for days outside the Capitol for helping to
Speaker 1: get the bill passed. They were there as a beacon
Speaker 1: to all of America. They said, you're not We're not
Speaker 1: gonna let you forget us. We're not gonna let you
Speaker 1: walk all over us. Comedian John Stewart also campaigned for
Speaker 1: the Toxic burn pits bill. Senator Schumer says it passed
Speaker 1: in an eight six to eleven vote. High ranking New
Speaker 1: York Democratic congresswoman speculates on whether President Biden will run
Speaker 1: for office again. President Biden was a major topic in
Speaker 1: a debate leading up to the Democratic primary for New
Speaker 1: York's twelfth district. When asked if Biden should run again,
Speaker 1: Representative Caroline Maloney told New York's one moderators, I don't
Speaker 1: believe he's running for re election. Districting maps pitting Maloney
Speaker 1: against other Democratic veterans against Representative Jerry Nadler coo early
Speaker 1: to say doesn't serve the purpose of Democratic Party to
Speaker 1: to deal with that until after the mid terms. Maloney
Speaker 1: and Natler face off August. The Defense Department electronically wipe
Speaker 1: the phones of some former top officials who served under
Speaker 1: then President Donald Trump, including the leting text messages related
Speaker 1: to last year's attack on the US Capitol. Global News
Speaker 1: twenty four hours a day on airand on Bloomberg Quick
Speaker 1: Take Power got more than twenty seven under journalist and
Speaker 1: analysts more than twenty countries. How Michael bar this is Bloomberg, Nathan,
Speaker 1: thank you, Michael. On Wall Street, we get the Bloomberg
Speaker 1: Sports Update with John Stasha. All right, Nathan Vince Scully,
Speaker 1: the legendary Dodgers announcer, has passed away. Imagine having the
Speaker 1: same job for sixty seven years and imagine witnessing so
Speaker 1: much baseball history from Brooklyn winning the nineteen fifty five
Speaker 1: World Series of the ball going through Bill Buckner's legs
Speaker 1: at Chase Stadium. Here was Scully on a night in
Speaker 1: Atlanta four for the country in the world, A black
Speaker 1: man is getting a standing ovation in the Deep South
Speaker 1: for breaking a record of an all time big bottle.
Speaker 1: And it is a great moment for all of it,
Speaker 1: and particularly for Henry and Scully. Was ninety four Jacob
Speaker 1: to Graham on the man for the match, first time
Speaker 1: in more than a year in Washington. Pitch five innings,
Speaker 1: allowed just one run, three hit, struck out six. Nothing's changed.
Speaker 1: The Mets struggled to score for him, just a Francisco
Speaker 1: lindoor home run. Stephen Nouga sec replaced the Graham gave
Speaker 1: up back to back Homer's Washington end of the met
Speaker 1: seven game winnings big five to one. On the day
Speaker 1: of the Nationals traded their twenty three year old star
Speaker 1: Juan Soto to San Diego. The mess traded j. D.
Speaker 1: Davis to the Giants for outfielder Darren Rough. The Yankees
Speaker 1: traded Jordan Montgomery to St. Louis for outfielder Harrison Bader,
Speaker 1: a New York native, is currently out with a foot injury.
Speaker 1: The Yanks also sent the unproductive Joey Gallo to the
Speaker 1: Dodgers at the Stadium. Yankees still behind for nothing. Later
Speaker 1: six three, they tied the game, but a pinch hit
Speaker 1: home run by Seattle Sam Haggarty seventh I mean the
Speaker 1: Mariners one eighth to six in defeat. Yanks got home
Speaker 1: runs from Jose Hvino, Anthony Rizzo, and Josh Donaldson. The
Speaker 1: NFL took away the Miami Dolphins first round draft pick
Speaker 1: next year for tampering with trying to hire Sean Payton
Speaker 1: and the choir Tom Brady, Tom Stashward, Bloomberg Sports Nathan
Speaker 1: Thanks John seven on Wall Street Time for the Tri
Speaker 1: State Business Report with Bloomberg's head Cory Attorney General to
Speaker 1: Teacher James has issued an investor alert for New Yorkers
Speaker 1: affected by the cryptocurrency crash. It's part of its own
Speaker 1: going investigative work. The O a G is interested in
Speaker 1: hearing from New York investors who are unable to access
Speaker 1: their investments or who have been deceived about cryptocurrency. The
Speaker 1: Board of New York and New Jersey has announced new
Speaker 1: terraffs on Tuesday related to empty containers and export volume
Speaker 1: and its battle to decrease container congestion. Both loaded and
Speaker 1: empty containers that are considered long dwelling will be subjected
Speaker 1: to a quarterly container imbalanced fee. Three Long Island hospitals
Speaker 1: are among the top performing medical centers. The US Centers
Speaker 1: for Medicare and Medicaid Services gave its highest rating to
Speaker 1: north Well Health Huntington's Hospital, Catholic Health St. Francis Hospital
Speaker 1: and Heart Center in Rosslyn, and n y U langgn
Speaker 1: Health Hospitals. That your Bloomberg Trying State Business Report. I'm
Speaker 1: Ed Corey, alright and thank you, five thirty eight on
Speaker 1: Wall Street. Bloomberg Radio is on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. I'm Steve Potaskan on ten Chen Wins
Speaker 1: in New York. We're talking about the National Retail Federation
Speaker 1: that that there won't be a recession this year. Um
Speaker 1: Corney Donahollan ktr H in Houston, Shell is handing out
Speaker 1: bonuses to employees as earning search to record high. I'm
Speaker 1: Gina Servetti in for w BBM in Chicago. I'm reporting
Speaker 1: that grub Hub's parent has had to record an impairment
Speaker 1: charge on its u S food delivery business, saying orders
Speaker 1: slowed in the year's first half. I'm Stephen Carl on
Speaker 1: d AB Digital Radio in London. We've been speaking to
Speaker 1: Lord Peter Hayne about the UK government banning Bain and
Speaker 1: Company from bidding for public contracts. It Cory on w
Speaker 1: b a M in Cleveland. I'm reporting ge Lighting will
Speaker 1: close to Ohio lightbulb Player. And those are some of
Speaker 1: the stories our twenty seven under Bloomberg journalists and analyst
Speaker 1: are working on this morning around the world. It's five
Speaker 1: thirty nine on Wall Street. The following is an editorial
Speaker 1: from Bloomberg Opinion. This editorial was written by the Bloomberg
Speaker 1: Editorial Board. Like Osama bin Laden his predecessor as leader
Speaker 1: of al Qaeda, i'man al Zawahiri had the blood of
Speaker 1: thousands on his hands. In addition to helping plot the
Speaker 1: September eleventh terrorist attacks, Zawahery played a role in the
Speaker 1: two thousand five London transit bombings and the bombings of
Speaker 1: two US embassies in nineteen ninety eight. His demise, announced
Speaker 1: by the White House on Monday, was a feat of patient,
Speaker 1: effective intelligence work. US spies tracked the long sought terrorists
Speaker 1: to Afghanistan earlier this year, then spent months observing him.
Speaker 1: The information they gathered allowed an American drone to target
Speaker 1: him this past weekend, killing him on the balcony of
Speaker 1: his house. Few terrorists of Zawahiri's generation were responsible for
Speaker 1: more bloodshed. For now, it's enough to say that justice
Speaker 1: has been served. This editorial was written by the Bloomberg
Speaker 1: editorial Board. For more Bloomberg opinion, please go to Bloomberg
Speaker 1: dot com, slash opinion or O P I n go
Speaker 1: on the Bloomberg terminal. This has been Bloomberg opinion, and
Speaker 1: you can hear Bloomberg opinion editorials every weekday at this time.
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Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather
Speaker 1: sunny near ninety today, heat advisory and effect tomorrow into Friday.
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Speaker 1: Quick Jape. This is a Bloomberg Business Flash and I'm Karen.
Speaker 1: Moscow stocks are studying as some of the investor anxiety
Speaker 1: over tense US China ties eases, while treasury yields are
Speaker 1: fluctuating after a slide sparked by hawkish Federal Reserve comments.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg s and P futures up sixteen points
Speaker 1: down futures have a hundred twenty five NASDAG futures of
Speaker 1: fifty one The decks in Germany's up to tenth se percent.
Speaker 1: Ten year treasury down one thirty second yield two point
Speaker 1: seven five percent. The yield on a two year three
Speaker 1: point oh six percent. Nimex screwed oil is down one
Speaker 1: percent on ninety three cents at ninety three dollars forty
Speaker 1: eight cents a barrel. Comex School down half percent or
Speaker 1: eight dollars ten cents at seventeen eighty one. Sixty announced
Speaker 1: the euro one point eight five against the dollar British
Speaker 1: found one point two one six eight and the yen
Speaker 1: one thirty three point one six and bitcoin this morning
Speaker 1: of one point four percent at twenty three thousand, three
Speaker 1: hundred fifty dollars. That's a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world.
Speaker 1: Michael Karen, thank you very much. A major victory four
Speaker 1: abortion rights advocates. Voters in Kansas overwhelmingly rejected an amendment
Speaker 1: it would have eliminated the constitutional right to an abortion
Speaker 1: and placed the issue in the hands of state lawmakers.
Speaker 1: President Joe Biden to day will sign a second executive
Speaker 1: order intended to improve access to abortion services, more than
Speaker 1: five weeks after the U. S. Supreme Court allowed states
Speaker 1: to largely put them off limits. A sad day in
Speaker 1: Baseball Hall of Fame broadcaster Vince Scully has Dined. Scully
Speaker 1: broadcast games for the Dodgers for sixties seven years. Vince
Speaker 1: Scully was ninety four. As for the games, the Yankees
Speaker 1: lost to the Mariners eight six, the Mets lost to
Speaker 1: the Nationals five one, the Orioles and Red Sox one,
Speaker 1: the A's and giants lost global news twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists and analysts and more
Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg. Nathan, okay, Michael,
Speaker 1: thank you. It's five forty nine on Wall Street Live
Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak
Speaker 1: on a morning where geopolitics and electoral politics are front
Speaker 1: and center. It's a very appropriate that we have Wendy
Speaker 1: Schiller with us this morning, director the Tobman Center for
Speaker 1: American Politics and Policy at Brown University. Wendy, it's always
Speaker 1: great to speak with you, particularly now when investors are
Speaker 1: trying to wrap their heads around what House Speaker Nancy
Speaker 1: Pelosi's visit to Taiwan means for US China relations. How
Speaker 1: do you see it now that this trip is pretty
Speaker 1: close to wrapping up. Good morning, Nathan um. I think
Speaker 1: Pelosi was trying to do two things at once. One
Speaker 1: was to showcase the power of the Congress per se
Speaker 1: and her role as speaker, and a particularly the area
Speaker 1: of trade. As we know, you know, the House has
Speaker 1: to originated all taxing revenue bills, Texas spending bills. And
Speaker 1: you know, if we're gonna do anything big on trade
Speaker 1: or things are gonna have to get to Congress dealing
Speaker 1: with China on trade, then the House is a very
Speaker 1: important pitch stop for that legislation. And I think she
Speaker 1: was reminding not only China but the world that that
Speaker 1: is the fact, and so that Congress has to be recognized. Second,
Speaker 1: is a break with Biden really just showing that the
Speaker 1: Democrat Party has independence from the Biden administration. I mean,
Speaker 1: she did this on purpose, and she's a very strategic
Speaker 1: political leader, she has been her whole career. Uh, And
Speaker 1: this was to say, look, even if you don't like Biden,
Speaker 1: there are things that a Democratic Congress could try to
Speaker 1: do that will be in contrast to the Biden administration.
Speaker 1: And that's one of the reasons why you want to
Speaker 1: still keep us in office. Well, why would Speaker Pelosi
Speaker 1: want to exhibit this kind of break with President Biden?
Speaker 1: What's what? What's the upside? Well, the upside is that
Speaker 1: when you are you know, the junior poll is not
Speaker 1: that bad. So the Democrats right now, I mean, the
Speaker 1: Republicans are a little bit ahead, depending on whose poll
Speaker 1: you look at. But the Democrats need something. Uh. You know,
Speaker 1: gas prices are slowly dropping, or the price of oil,
Speaker 1: you know, for Bow right now is dropping. We don't
Speaker 1: know how that will be in November, but right now
Speaker 1: most of the primaries are over, and now the general
Speaker 1: election essentially begins as soon as Congress goes home. Uh.
Speaker 1: And so that is something where you have to grab
Speaker 1: onto anything you can do. And one of those things
Speaker 1: you can do is to say we know how to
Speaker 1: run the country. We're not just good domestically. If you
Speaker 1: don't like what we do domestically, we will pressure the
Speaker 1: Biden administration to be stronger against China internationally. And so,
Speaker 1: for those members that might be asked about this in
Speaker 1: particular districts, making point to this visit as a sign
Speaker 1: that the Congressional Democrats will stand up to Biden when
Speaker 1: they need to. Well, let's turn to the primaries that
Speaker 1: we've just gone through in five states. Last night, it
Speaker 1: looks as though, was for the most part, a pretty
Speaker 1: good night if you were a Republican candidate backed by
Speaker 1: former President Trump. Yeah, it was an excellent night for
Speaker 1: Donald Trump, particularly in Michigan and Arizona, and I think
Speaker 1: it's got to be extremely worrisome for the Democrats in
Speaker 1: the Senate race in Arizona, Mark Kelly is running for
Speaker 1: re election, and you know, not only had most of
Speaker 1: the Trump people win, but you had the turnout was higher.
Speaker 1: And now some of those reasons as that the primary
Speaker 1: was more contested, but Republican enthusiasm in Arizona seems to
Speaker 1: be very high. And you're you're putting an office multiple
Speaker 1: people who are running for all of us not in
Speaker 1: office yet, who deny the legitimacy and that and that
Speaker 1: there's a lot of contestation in Arizona, as we know,
Speaker 1: in terms of recounting the vote, and that's got to
Speaker 1: be a great concern to the Democrats. So I think
Speaker 1: progressives want to celebrate the victory in Kansas on abortion,
Speaker 1: but when you really look at sort of the map
Speaker 1: as it's it may lay out for twenty four, you're
Speaker 1: seeing strong warning signs, I think in Arizona and in Michigan.
Speaker 1: Even though Gregen Widmer has saw the proval readings and
Speaker 1: she's doing well, the Republicans nominated somebody who could turn
Speaker 1: out to be a very attractive candidate to people in
Speaker 1: Michigan in a bad year for Democrats. So for the
Speaker 1: most part, do you think that the Republicans, who sort
Speaker 1: of share the former president's view that the election was
Speaker 1: stolen could have a pretty good chance against the Democratic
Speaker 1: candidates in the November election. I do think that they
Speaker 1: can get elected, yes, And I think it may not
Speaker 1: be because of their stance on the election. That's the
Speaker 1: that's the question mark for Trump. He you know, he
Speaker 1: had a good night, But is this really in the
Speaker 1: general election going to be about Trump and restoring Trump
Speaker 1: or um, you know, denying election or is it going
Speaker 1: to be about inflation and guest prices and voters just
Speaker 1: wanting to change and not wanting to elect incumbents. And
Speaker 1: I think that's going to be how to read those
Speaker 1: t v's, uh, which all observers are gonna have to
Speaker 1: figure that out. But I think that's the warning signs
Speaker 1: are structural in terms of accepting elections and even the
Speaker 1: results of the two mid terms. In Arizona, for example, uh,
Speaker 1: and in Missouri, Greens was rejected. He was sort of
Speaker 1: an unattractive personal candidate, but Eric Fitz not really all
Speaker 1: that different in terms of policy. And in Kansas, for example,
Speaker 1: Chris Koback is back. People remember him. He was on
Speaker 1: the voting Certification Commission that Trump established after one so
Speaker 1: in team, so you know, Kansas is sending mixed signals
Speaker 1: to Thanks Wendy, great having on with us this morning.
Speaker 1: Wendy Schiller, director of the Topman Center for American Politics
Speaker 1: and Policy at Brown University, Karen, Sorry, Nathan, thank you
Speaker 1: at it's five and fifty four or on Wall Street.
Speaker 1: Now to a legal story we're watching this morning. Best
Speaker 1: Selling author Stephen King testified for the government yesterday and
Speaker 1: an antitrust trial to stop Penguin and Random Houses proposed
Speaker 1: two billion dollar acquisition of Simon and Schuster, his own publisher.
Speaker 1: The Justice Department is suing to block the largest US
Speaker 1: book publisher from buying the fourth largest, contending the merger
Speaker 1: with sword competition hurt authors and ultimately readers. King testified
Speaker 1: that the five biggest publishers have largely squeezed out independent shops,
Speaker 1: making it harder for fledgling authors to make it into print.
Speaker 1: For more of Bloomberg's June Grosso speaks to Jennifer Ree,
Speaker 1: Bloomberg Intelligence senior litigation analyst. The government says this merger
Speaker 1: would affect the book publishing industry detrimentally. House sold. You know,
Speaker 1: it's a very interesting argument because it is a bit
Speaker 1: different than a typical antitrust argument made to try to
Speaker 1: block a merger. So what they say here is that
Speaker 1: there will be an impact on labor, in other words,
Speaker 1: authors of anticipated top selling books. So these are the
Speaker 1: authors that come along you expect the book to be
Speaker 1: really big, and these publishers are bidding for the rights
Speaker 1: to that book, and you know, they bid against each
Speaker 1: other and the price goes up and the authors are
Speaker 1: paid more. So they're saying that that kind of head
Speaker 1: to head competition boost these authors pay, you know, and
Speaker 1: spurs the publishers to give better editorial and marketing services
Speaker 1: to get those book rights. They aren't arguing that people
Speaker 1: like me or like you that go out and buy
Speaker 1: a book are actually going to pay more for a book.
Speaker 1: That's a more traditional antitrust theory. This theory is about
Speaker 1: labor and what it's called as a monopsony theory too
Speaker 1: few buyers rather than too few sellers. This is an
Speaker 1: industry that's already undergone consolidation. Penguin Random House that name
Speaker 1: shows consolidation, right, you know, I think that's one of
Speaker 1: the most important points here. In particular, the Department of
Speaker 1: Justice has said, you know, they really want to broaden
Speaker 1: out the kinds of deals that they challenge and broaden
Speaker 1: out the antitrust approach to mergers, and one of the
Speaker 1: things they want to think about more are just industries
Speaker 1: that have trended toward consolidation. That as you see a
Speaker 1: trend toward consolidation, you kind of want to nip it
Speaker 1: in the bud before it gets too far and too
Speaker 1: consolidated under your nose. And you're exactly right. This is
Speaker 1: an industry that's had loads of consolidation in the last
Speaker 1: couple of years. And not only that, this top five
Speaker 1: companies that the DJ is talking about have been accused
Speaker 1: of colluding in the past, and that's another theory the
Speaker 1: DJ will have. Hey, the fewer you have, the more
Speaker 1: likely it is that they can collude in the future. Now,
Speaker 1: this has been described as a key test for the
Speaker 1: Biden administrations pushed to expand antitrust enforcement. Do you see
Speaker 1: it that way? You know, I do, because this concept
Speaker 1: that we're going to look at the merger's impact on
Speaker 1: labor is barely untested and new in court to rest
Speaker 1: the entire theory of harm just on that theory and
Speaker 1: go to court with it is fairly new and untested,
Speaker 1: So we'll see how they can prove that and how
Speaker 1: the district court judge views that, and it could lay
Speaker 1: the groundwork for future challenges to mergers that are based
Speaker 1: on the impact on labor. So it is very new
Speaker 1: in that way, and I think also with respect to
Speaker 1: what you just talked about, that it's an effort to
Speaker 1: sort of stem the tide of consolidation in an industry
Speaker 1: that's been trending in that direction. And as Jennifer Ree,
Speaker 1: Bloomberg Intelligence senior litigation analysts, speaking with Bloomberg juon Grass
Speaker 1: So catch more of that interview plus analysis of the
Speaker 1: latest legal news by subscribing to the Bloomberg Law podcast
Speaker 1: or downloading the show at Bloomberg dot com slash podcast Attorneys.
Speaker 1: You can find exceptional legal research and business development tools
Speaker 1: at Bloomberg Law dot com and on the Bloomberg terminal
Speaker 1: at blong Go. And it's headline with how speaker Nancy
Speaker 1: Pelosi is playing leaving Taiwan this after her historic visit
Speaker 1: where she pledged the US would not abandon Taiwan, and
Speaker 1: this is Bloomberg