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: Can we begin with the devastating flooding over the weekend
Speaker 3: in Kerrville, Texas. At least eighty two people are dead
Speaker 3: dozens more missing following flash floods in the region. Officials
Speaker 3: are warning the casualty count we'll climb with more rain
Speaker 3: in the forecast. Bloomberg meteorologist Craig Allen joins us with
Speaker 3: the latest. Good morning, Craig, Good morning, Nathan.
Speaker 4: You know, this is a situation here that it really
Speaker 4: takes time to get a grasp of just how dire
Speaker 4: the situation really is. With this extreme flooding. You've had
Speaker 4: four months worth of rain in just about four to
Speaker 4: five hours worth of time when it first began back
Speaker 4: on July fourth, and now you're dealing with additional showers
Speaker 4: and thunderstorms. Thing as long lasting. Nothing is widespread, but
Speaker 4: anything at this point will exacerbate the problems that they
Speaker 4: already have down there. To think about a wall of
Speaker 4: water two stories high coming in at you, with these
Speaker 4: rivers picking up all that rainfall in such a short
Speaker 4: amount of time. It's hard to really imagine the situation
Speaker 4: that is going on down there. The National Weather Service
Speaker 4: continues with floodwatches that are in effect, and these floodwatches
Speaker 4: include cities like San Angelo and round Rock and Colleen, Texas,
Speaker 4: New bron Fells, San Antonio, this whole area and will
Speaker 4: continue under a flash flood watch at least through this
Speaker 4: afternoon and right on in two Monday evening.
Speaker 2: All right, Bloomberg meteorologist Craig Allen, Craig, thank you. The
Speaker 2: death toll includes twenty seven people at a girls' summer
Speaker 2: camp in Kirk County, where ten children and a counselor
Speaker 2: a camp Mystic remain un accounted for. Texas Governor Greg
Speaker 2: Abbott discussed search and rescue efforts Sunday afternoon.
Speaker 5: It was nothing short of horrific to see what those
Speaker 5: young children went through, and we will remain one hundred
Speaker 5: percent dedicated searching for every single one of the children.
Speaker 2: Texas Governor Greg Abbott's's search and rescue efforts are expanding
Speaker 2: beyond Kerrville and Karen.
Speaker 3: President Trump has signed a disaster declaration for Kerr County.
Speaker 3: He says he's working to provide more support for Texas.
Speaker 6: We're working very close with representatives from Texas, and it's
Speaker 6: a horrible thing that took place, absolutely.
Speaker 3: Horrible, and the President adds he will probably visit the
Speaker 3: affected areas later this week. Turning into politics, the focus
Speaker 3: in Washington is shifting from taxes to tariff's. Trump administration
Speaker 3: is preparing to send tariff letters to dozens of countries,
Speaker 3: with the administration's ninety day tariff pause set to expire
Speaker 3: on Wednesday. Speaking alongside Commerce Secretary Howard Ludnik, President Trump
Speaker 3: said most nations will have a deal or a letter
Speaker 3: by then.
Speaker 6: They're going to be Tariffsaris are going to be the tariff.
Speaker 1: I think we have.
Speaker 6: Most countries done by July ninth. Yeall either a letter
Speaker 6: or a deal, but.
Speaker 7: They go into effect on August first.
Speaker 4: Tariff's go into.
Speaker 6: Effect August first, but the President is setting.
Speaker 8: The rates and the deals right now.
Speaker 3: Despite those comments from the President and the Commerce Secretary,
Speaker 3: Treasury Secretary Scott bess Into signaling that some countries without
Speaker 3: deals could negotiate before August first.
Speaker 9: Nathan.
Speaker 2: President Trump also announced on social media he'll and pose
Speaker 2: an additional ten percent tariff on any country aligning itself
Speaker 2: with what he called the anti American policies of bricks.
Speaker 2: The Group of Nations, which includes Brazil, Russia, India, China,
Speaker 2: and South Africa, held a summit over the weekend and
Speaker 2: condemned US and Israeli attacks on Iran.
Speaker 3: Now today, Karen Israel's has a negotiating team in Katar,
Speaker 3: with Prime Minister Benjamin Netanyahoo visiting the White House later today,
Speaker 3: and President Trump says he is optimistic about a possible
Speaker 3: ceasefire in Gaza.
Speaker 6: I think there's a good chance we have a deal
Speaker 6: with Hamas during the week, during the coming week pertaining
Speaker 6: to quite a few.
Speaker 3: Of the US And that was the President speaking to
Speaker 3: reporters in Morristown, New Jersey.
Speaker 2: Also happening overseas, Nathan oil prices fell after OPEC Plus
Speaker 2: agreed to a bigger than expected production increase from next month.
Speaker 2: The group increased supply by five hundred and forty eight
Speaker 2: thousand barrels a day, citing summer demand as reason for
Speaker 2: optimism that the extra barrels could be absorbed by the market.
Speaker 2: Checking the price of oil now and IMAX screwed is
Speaker 2: down a tenth of up percent at sixty six dollars
Speaker 2: ninety two cents a barrel, while Brent is up four
Speaker 2: tenths of up percent at sixty eight dollars fifty nine cents.
Speaker 3: Let's turn us some company news now, Karen. We're watching
Speaker 3: Tesla shares this morning, and they are tumbling down nearly
Speaker 3: seven percent in the pre market. That's after Tesla's CEO,
Speaker 3: Elon muskinounst he's forming a third political party, he's calling
Speaker 3: the America Party. That move comes after President Trump signed
Speaker 3: his tax bill into law, and the President went on
Speaker 3: to once again blast his former political ally.
Speaker 2: And I think.
Speaker 6: Starting a third party just adds to confusion.
Speaker 1: It really seems to have.
Speaker 6: Been developed for two parties. Third parties have never worked,
Speaker 6: so he can have fun with it, but I think
Speaker 6: it's ridiculous.
Speaker 3: President Trump says, it's quote sad to watch Elon Muskow
Speaker 3: and his words completely off the rails.
Speaker 2: Meanwhile, Nathan, President Trump says the US will discuss a
Speaker 2: TikTok agreement, which Shina today or tomorrow. He says, Washington
Speaker 2: and Beijing quote pretty much have a deal. The Information
Speaker 2: is reporting that TikTok is building a new version of
Speaker 2: its app for American users. Which it plans to launch
Speaker 2: in September.
Speaker 3: And Wall Street returns after a long holiday weekend with
Speaker 3: the stocks at a record Let's look ahead now with
Speaker 3: Bloomberg's Charlie Pellett.
Speaker 9: This week's focus is on the tariff deadline and FED minutes,
Speaker 9: along with a smattering of earnings reports. Sylvia and Joblonski
Speaker 9: is chief investment officer at Defiance ETFs.
Speaker 8: Earnings are expected to be five percent or more.
Speaker 1: My take is that AI and some of that tech
Speaker 1: is going to make that number look a little bit better,
Speaker 1: and then you can get a rally for that.
Speaker 8: You know, tariffs not as bad as we thought.
Speaker 9: Among the company's schedule to report earnings this week Delta Airlines,
Speaker 9: ConAgra Brands, and the newly public Circle Internet Group. In
Speaker 9: New York, Charlie Bloomberg Radio.
Speaker 2: Time Now for a look at some of the other
Speaker 2: stories making news in New York and.
Speaker 9: Around the world.
Speaker 2: And for that we're joined by Bloomberg's John Tucker.
Speaker 9: John, Good morning, Yeah, Good morning, carrydy.
Speaker 10: Israel's military launched air strikes early today targeting ports and
Speaker 10: facilities held by Yemen's Hooty rebels. The attacks came after
Speaker 10: an attack Sunday, targeting a Liberian flying ship of the
Speaker 10: Red Sea that caught fire and took on water. A
Speaker 10: three car accident led to an explosion at a Utah
Speaker 10: Strip mall Saturday night. Over's sixty firefighters were on scene
Speaker 10: with a powerful explosion destroyed one business, alert workers in
Speaker 10: the adjacent and businesses told customers to evacuate. Three people
Speaker 10: were taken to the hospital. There have been more meazels
Speaker 10: cases in the US this year than any other since
Speaker 10: the disease was declared eliminated a quarter century ago. According
Speaker 10: to data from Johns Hopkins, there have been at least
Speaker 10: twelve hundred confirmed cases of measles reported in the US.
Speaker 10: In twenty twenty five. The sanitation workers strike in Philadelphia,
Speaker 10: leaving piles of garbage on the streets of the city
Speaker 10: and the brutal July heat talks stalled once again. City
Speaker 10: sanitation worker Abdul Kadar has a message for Mayor Cherrell Parker.
Speaker 8: Schero just needs to come to the table and give
Speaker 8: us a better contracts.
Speaker 10: Simple as that the sticking point remains, wage increases and benefits.
Speaker 10: A series of shark sightings for its officials to repeatedly
Speaker 10: close parts of Rockaway Beach over the long fourth of
Speaker 10: July holiday weekend. State agencies have twenty eight camera equipped
Speaker 10: drones to search for sharks. State and city protocol dictates
Speaker 10: when a shark sighting is confirmed, swimming cannot resume until
Speaker 10: at least an hour later. Global News twenty four hours
Speaker 10: a day and whenever you want it with Bloomberg News.
Speaker 2: Now.
Speaker 10: I'm John Tucker, and this is Bloomberg. Karen.
Speaker 2: All right, John Tucker, thank you time now for the
Speaker 2: Bloomberg Sports Update, brought to you by Flushing Bank. Here's
Speaker 2: John stash Hour, John, Good.
Speaker 9: Morning, I Morning Care.
Speaker 7: In the end of the Subway series at Cityfield, Yankee
Speaker 7: Hill runs by Austin Wells and Aaron Jeege. They led
Speaker 7: five nothing, Mets cut it to five to four. It
Speaker 7: was six four seventh in the Mets at Francisco the
Speaker 7: door at first base with nobody out and Juan Soto
Speaker 7: at the plate, and one what's on the left field.
Speaker 3: And it's a brilliant shoe strain.
Speaker 10: Show where the Franks HASTI shoe Street?
Speaker 8: Where is Donald first?
Speaker 7: On sn why Aaron Boone called it the Yankees play
Speaker 7: of the Year. Yanks won sixty four to and their
Speaker 7: six game losing streak. The Mets still won the series.
Speaker 7: Manager is Carlos Mendoza.
Speaker 11: We just came up short today, but Willy, were guys
Speaker 11: coming off the bench, you know, Mauricio Baty ready to go,
Speaker 11: Guys coming from the bullpen keeping it, you know, somehow
Speaker 11: close there and giving the offense a chance.
Speaker 9: Yeah.
Speaker 11: Overall, not only today, but the whole series.
Speaker 7: Part of the guys in DC red Sox beat the
Speaker 7: national six to fourth, swept the series, and the last
Speaker 7: place Nationals responded by firing longtime manager David Martinez and
Speaker 7: GM Mike Rizzo. Together they won the World Series in
Speaker 7: twenty nineteen, but they struggled ever since. Pictures and reserves
Speaker 7: named for next week's All Star Game Max Streed and
Speaker 7: Jazz Chisholm from the Yankees, Edwin Diaz and Pee Alonso
Speaker 7: from the Mets. Alonzo will not be in the home
Speaker 7: run derby. He's a two time champion in Houston. The
Speaker 7: final of the Gold Cup soccer, the US and Mexico
Speaker 7: tied at one seventy seventh minute, Mexico scored on a
Speaker 7: controversial header. They originally called it offside, changed on video review.
Speaker 7: Mexico won two to one too it. Wimbledon began with
Speaker 7: the end of the fourth round and matches today for
Speaker 7: a top seedyonic sinner seven times Chap Novak, Djokovic and
Speaker 7: Ben Shelton. He and Taylor Fritz. Last Americans left for
Speaker 7: the men to remain on the women's side, Amanda Issamoba
Speaker 7: and Emma Navarro, who also plays today. John Stashey, We're
Speaker 7: Bloomberg Sports Karen Nathan.
Speaker 1: Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 3: Good morning, I'm Nathan Hager. Investors are heading into a
Speaker 3: new trading week with a little more trade uncertainty. This morning,
Speaker 3: President Trump is warning countries that are aligned with the
Speaker 3: Bricks Nations they could face an additional ten percent tariff.
Speaker 3: Other nations, he says, should be getting notice of their
Speaker 3: new rates this week.
Speaker 6: It could be maybe as many as fifteen or so.
Speaker 7: And they'll be going out on.
Speaker 6: Monday, and some we'll go out on Tuesday and Wednesday,
Speaker 6: and I'll and we've we've made deals also, so we're
Speaker 6: going to have a combination of letters and some deals
Speaker 6: have been.
Speaker 3: Made, as the President, speaking to reporters in Morristown, New
Speaker 3: Jersey yesterday for more were joined by Roslind Mathis and
Speaker 3: Bloomberg's news director for Europe, the Middle East and Africa
Speaker 3: and Roz I think a lot of investors were braced
Speaker 3: for the idea that we'd see a combination of deals
Speaker 3: and new tariffs starting to be announced this week. But
Speaker 3: where did this new threat of an extra ten percent
Speaker 3: on bricks aligned nations come from?
Speaker 8: Good morning, Good morning.
Speaker 12: Well, obviously that's also the extra element in a week
Speaker 12: that does feel quite uncertain. I mean, Donald Trump had
Speaker 12: said these letters we're going to go out days ago.
Speaker 8: Now he says they're going to start to go out, and.
Speaker 12: They may come out over a period of days. And
Speaker 12: of course nominating August I allows further room for negotiation
Speaker 12: in all of that. So it does feel as though
Speaker 12: we're not entirely sure what we're going to be looking at,
Speaker 12: perhaps even in a week from now. And added to
Speaker 12: that the element of saying what he might put ten
Speaker 12: percent tariffs on what he calls the anti americanness of bricks, which,
Speaker 12: of course this grouping which has been led by China, Brazil, India,
Speaker 12: Russia and South Africa, and that group has been expanding
Speaker 12: rapidly in recent years in the emerging market space in particular,
Speaker 12: many many new members and a growing sense of it
Speaker 12: being a bit of an alternate power block. Although unlikely
Speaker 12: to supplant the US dollar anytime soon, and it's getting
Speaker 12: Donald Trump's attention for now, it does seem to be
Speaker 12: more of a poke than anything else. Because BRICKS has
Speaker 12: been meeting over the weekend in Brazil. You can see
Speaker 12: from the BRICKS members desired to not really respond to
Speaker 12: it and maybe see it as a bit of a
Speaker 12: needling attempt more than anything else. But it does add
Speaker 12: that extra element of uncertainty. Is he serious about this
Speaker 12: or was he just raising it in the minute because
Speaker 12: Bricks happens to be meeting.
Speaker 3: The word that really stood out from that announcement on
Speaker 3: social media was anti American policies of the BRICKS nations.
Speaker 3: Do we know what the president means by anti American policies?
Speaker 3: What he's thinking about there?
Speaker 12: Well, that's the other thing we don't know. I mean,
Speaker 12: he has criticized BRICKS before. He used to be fairly
Speaker 12: dismissive of it. He's become a bit more attuned to
Speaker 12: it in recent years. Again this sense that perhaps bricks
Speaker 12: nations are pushing for the use of alternate currencies in
Speaker 12: global trade, so things like the yuan and what not,
Speaker 12: and so that's caught his attention for the challenge potentially
Speaker 12: to the global dominance of the US dollars. So maybe
Speaker 12: he means countries that do trade in currencies outside the
Speaker 12: US dollar, for example, as being an example of what
Speaker 12: he would say is anti American activities.
Speaker 8: But it's very unclear as you say, what he means
Speaker 8: by that. It could be a very broad church.
Speaker 12: And so that's why you can see bricks nations perhaps
Speaker 12: wisely choosing the course of not really responding so far
Speaker 12: in significant detail.
Speaker 3: Of course, one of the bricks nations is the Eye India.
Speaker 3: There had been some talk leading up to this that
Speaker 3: the US and India may be close to a deal
Speaker 3: that could be announced this week. Does this just sort
Speaker 3: of upend things far as that goes now.
Speaker 12: You'd imagine that the Indian government be probably choosing to
Speaker 12: let this one fly by for now. As you say,
Speaker 12: there's been a lot of chatter that India and the
Speaker 12: US are getting close to an understanding.
Speaker 8: Again, these are frameworks.
Speaker 12: These aren't full board trade deals, the kinds that take
Speaker 12: years to come together. These are framework understandings at a
Speaker 12: top level, and it's an India's interests obviously to also
Speaker 12: get some kind of arrangement by the deadline and the
Speaker 12: senses they've been getting pretty close. Not there yet, but
Speaker 12: for days they're inching forward, and you can imagine for
Speaker 12: India the incentive is to get over the line, so
Speaker 12: they'll probably let the bricks comment fly by for now.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
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Speaker 3: here on Bloomberg Day.
Speaker 2: Ray