Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning.
Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 3: stories we're following today. Karen, let's begin with the race
Speaker 3: to the midterms. New York held primary elections last night,
Speaker 3: and in New York City, it was a big night
Speaker 3: for Mayor Zornmumdanie. Three of the Democratic Socialist Mayor's favorite
Speaker 3: House candidates swept to victory, including former City Comptroller Brad Lander.
Speaker 3: He unseated two term Congressman Dan Goldman in the tenth
Speaker 3: district with almost sixty six percent of the vote.
Speaker 4: Dallid already is the force that we need to vanquish
Speaker 4: Trump's fascism, to abolish ice.
Speaker 5: To stand up to the billionairesomy.
Speaker 6: That was Brad Lander declaring victory last night. He'll face
Speaker 6: Republican Jennifer Moore, who ran uncontested in the general election
Speaker 6: in November.
Speaker 3: On Nathan, it was a closer race for another Mom
Speaker 3: Donnie backed candidate in the thirteenth district, but with eighty
Speaker 3: eight percent of votes counted, activist Derera Lisa Avilia Chevalier
Speaker 3: is projected to defeat incumbent Adriano s Payot forty nine
Speaker 3: to forty six percent. And in the seventh district race
Speaker 3: to succeed retiring Congresswoman Nidia Velasquez, Mandamie backed state lawmaker
Speaker 3: Claire Valdez won with fifty six percent of the vote.
Speaker 3: The Lasquez endorsed Brooklyn Borough President Antonio Renoso. In that race,
Speaker 3: he took just thirty six percent of the vote.
Speaker 6: And in the crowded race for retiring Congressman Jerry Nadler's seat,
Speaker 6: Karen Mayor Mumdonnie did not make an endorsement.
Speaker 2: That race went to Micah Lasher.
Speaker 6: He won with thirty nine percent of the vote in
Speaker 6: a field that included Kennedy's grandson Jack Schlossberg, Trump critic
Speaker 6: George Conway, and state Assemblyman Alex Morris. Lasher is a
Speaker 6: former aide to Michael Bloomberg, the founder and majority owner
Speaker 6: of Bloomberg Radio parent company Bloomberg LP. Bloomberg endorsed Lasher
Speaker 6: in the race. He'll face Republican Caroline Shinkle.
Speaker 3: This fall, Nathan Kate Connelly defeated a field of food.
Speaker 3: There were other Democrats in New York seventeen district, with
Speaker 3: forty nine percent of the vote, Democrats are hoping to
Speaker 3: unseat Republican Congressman Mike Lawler in that Hudson Valley swing
Speaker 3: district in November.
Speaker 6: And some important primaries were held in Maryland last night
Speaker 6: as well. Karen Governor Wes Moore easily won his Democratic
Speaker 6: primary with almost eighty eight percent of the vote. He'll
Speaker 6: face Republican Dan Cox in November for a rematch of
Speaker 6: their twenty twenty two race.
Speaker 2: And it was a runoff election night.
Speaker 6: In the South Carolina Republican governor's race, Karen with nearly
Speaker 6: all those votes counted. State Attorney General Alan Wilson defeated
Speaker 6: Lieutenant Governor Pamela A. Vet by more than two to
Speaker 6: one margin, sixty nine to thirty one percent. President Trump
Speaker 6: endorsed Vett in the primary, but last week he said
Speaker 6: he'd be happy with either candidate. Wilson will face State
Speaker 6: Representative Jermaine Johnson in November. He won the Democratic primary
Speaker 6: outright two weeks ago.
Speaker 3: Finally, Nathan, there was one more race to watch in
Speaker 3: Utah last night.
Speaker 2: This was in the.
Speaker 3: First Congressional District near Salt Lake City, which was recently
Speaker 3: withdrawn to favor Democrats. Former Congressman Ben McAdams won that
Speaker 3: race against three progressive candidates with fifty six percent of
Speaker 3: the vote.
Speaker 6: Okay, Karen, Let's turn now to the latest on the
Speaker 6: Middle East. President Trump is defending his deal with Iran
Speaker 6: as he faces growing domestic pressure over his strategy. The
Speaker 6: President says Iran will only be able to use funds
Speaker 6: released from frozen accounts to buy food and medical supplies
Speaker 6: from the United States. But Tehran is disputing those comments.
Speaker 2: They're all there are, They're all they know, they're wrong.
Speaker 4: They told us inside and we have it down one
Speaker 4: hundred percent inspections.
Speaker 2: And if they were right, I'd cancel the meetings right now.
Speaker 6: And in a post on social media, the President said
Speaker 6: the billions in unlocked financing would go into ESCRO, controlled
Speaker 6: by the USA and be used to purchase American grown
Speaker 6: products such as corn, wheat and soybeans. Iran's president Massud
Speaker 6: Pezeshki and says is country's nuclear missile program was not
Speaker 6: included in the Memorandum of Understanding with the US and
Speaker 6: would not be negotiated.
Speaker 7: I call him about our missile program was not included
Speaker 7: in the MoU and that shall not be I would
Speaker 7: like to say that if it was not for Iran's
Speaker 7: missile capabilities to defend ourselves. Our country would have been
Speaker 7: plundered and destroyed by the Zionist regime and the US.
Speaker 6: Like Kaza, Iranian president must suit Pozeshki and spoke through
Speaker 6: an interpreter. Meanwhile, Iran and Alman say they'll begin work
Speaker 6: on finding an agreement over future administration of the Strait
Speaker 6: of Horror moves, including the cost of managing transit in
Speaker 6: the US.
Speaker 3: Nathan the Republican Ledish Sunate has broken with President Trump
Speaker 3: and voted to end the war with Iran, and Bloomberg's
Speaker 3: Amy Morris reports from Washington.
Speaker 2: On this motion, the yeaser fifty the nays or forty eight.
Speaker 2: The concurrent motion is agreed to.
Speaker 8: The resolution already approved by the House requires the US
Speaker 8: to seize hostilities against Iran unless Congress votes to authorize
Speaker 8: further attacks, and does not allow the President to veto
Speaker 8: the resolution. It does not require the President's signature and
Speaker 8: does not carry the force of law, but it does
Speaker 8: reflect lawmakers growing concern over how the war is being handled.
Speaker 8: Americans overwhelmingly opposed the war, with sixty nine percent saying
Speaker 8: it was not worth it, and seventy eight percent saying
Speaker 8: the US should end the conflict now in Washington, Amy
Speaker 8: more as Bloomberg Radio.
Speaker 2: Right, Amy, thank you.
Speaker 6: While oil has dropped more than thirty five percent since
Speaker 6: mid March, President Trump says the price of the pump
Speaker 6: isn't falling fast enough. In a post on truth socially
Speaker 6: says he's ordered the Justice Department to look into gasoline prices.
Speaker 6: Triple A's average did tick up a bit to three
Speaker 6: ninety eight point eight a gallon today. What average retail
Speaker 6: prices have fallen fourteen percent since late May, and this morning,
Speaker 6: US diesel prices fell below five dollars a gallon for
Speaker 6: the first time since March.
Speaker 3: Let's turn to the market, Snathan, where stocks are stabilizing
Speaker 3: following yesterday's take sel off, which saw the Nasdaq drop
Speaker 3: two point two percent. This morning, Nasdaq futures are higher,
Speaker 3: up four ten seven percent. In Asia, Korea's Cospy index
Speaker 3: rose more than three percent after plunging ten percent yesterday.
Speaker 6: Karen investors are going to shift their focus now to
Speaker 6: earnings from one high flying tech stock. That would be
Speaker 6: Micron Technology. The memory chip maker, delivers its results after
Speaker 6: today's closing bell.
Speaker 2: We get more from Bloomberg Stocks reporter Dan Curtis.
Speaker 9: The memory company has been dominating US markets, not only
Speaker 9: as one of the largest contributors to the S and
Speaker 9: P five hundred rally this year, but has become the
Speaker 9: most traded stock in the US, with about fifty billion
Speaker 9: dollars worth of shares trading hands every day. The earnings
Speaker 9: will be a big test for the AI trade. Micron
Speaker 9: is one of the big three memory companies, which collectively
Speaker 9: account for about ninety percent of the world supply. With
Speaker 9: memory as a bottleneck in building out AI infrastructure, investors
Speaker 9: will closely be listening for the company's forecasts and any
Speaker 9: signals about changes in demand.
Speaker 6: And Bloomberg's Dan Curtis notes Micron shares are up two
Speaker 6: hundred and sixty eight percent this year alone, and this
Speaker 6: morning the stock is up another nearly four percent.
Speaker 3: Well one stock not delivering for investors this morning, Nathan
Speaker 3: is FedEx. It is down almost eight percent. The personal
Speaker 3: delivery company's earnings did top estimates, but profit margin declined
Speaker 3: to eight point four percent, and that was below analyst estimates.
Speaker 6: Well SpaceX shares are up a tick in early trading,
Speaker 6: hired by about a half percent yesterday Elon Musk's Rocket
Speaker 6: Ai company snapped a three day losing streak with a
Speaker 6: one percent gain. SpaceX sold twenty five billion dollars of
Speaker 6: investment grade bonds, replacing costly debt that helped finance Elon
Speaker 6: Musk's acquisition of x and expensive loans and bonds issued
Speaker 6: by his AI startup Xai. The bond offering was supported
Speaker 6: by investors. Eighty nine billion dollars of orders were received
Speaker 6: at its peak.
Speaker 3: Time. Now for look at some of the other stories
Speaker 3: making news in New York and around the world, and
Speaker 3: for that we're joined by Bloomberg's Michael Barr.
Speaker 2: Michael, good Morning, Good Morning Karen.
Speaker 10: France recorded its hottest day ever as a heat wave deepened,
Speaker 10: disrupting schools, transport, and tourist sites. Europe's power supplies being
Speaker 10: squeezed by low wind generation and heat related curbs at
Speaker 10: French nuclear plants. The extreme temperatures that forced major tours
Speaker 10: sites like the Eiffel Tower and the Louver Museum to
Speaker 10: close early. In southwest France, it hit one hundred and
Speaker 10: twelve degrees. We're learning more about Monday's shooting at a
Speaker 10: library in northern California that left two people dead and
Speaker 10: a young girl injured. First responders were on the scene
Speaker 10: within two minutes of the nine to one to one
Speaker 10: call at the Butte County Library. Chico Police Chief Billy
Speaker 10: Aldridge said the shooter who was arrested is eighteen year
Speaker 10: old Bradley Scott Sayer of Chico.
Speaker 11: He has no known connections to any of the victims
Speaker 11: in the library, and based on information revealed during the interviews,
Speaker 11: our detectives believe the suspect was influenced by the Columbine
Speaker 11: High School shooting.
Speaker 10: Chief Aldridge says the two killed were forty six year
Speaker 10: old Cody Hull and seventy four year old Robert Johnson.
Speaker 10: It has been five years since the deadly collapse of
Speaker 10: a Florida beachfront condominium, and there are more details on
Speaker 10: what contributed to the tragedy. Federal investigators now say the
Speaker 10: college in the Champlain Towers in Surfside began falling three
Speaker 10: weeks before the larger catastrophic collapse. Judith Mittroni Riser is
Speaker 10: with the National Institute of Standards and Technology.
Speaker 12: Once the first connection failed, other elements of the pool
Speaker 12: deck were left to carry their loads, but they were
Speaker 12: not strong enough to handle them due to problems that
Speaker 12: stemmed from the original design and construction of the building.
Speaker 10: And IST's Judith Mittroni Riser Global News twenty four hours
Speaker 10: a day and whenever you want it with Bloomberg News Now,
Speaker 10: Michael barn This is Bloomberg Karen.
Speaker 2: Thanks Michael.
Speaker 3: Time now for our Bloomberg Sports update, and for that
Speaker 3: we bring in John Stashauer.
Speaker 2: Thanks Garren.
Speaker 4: The NBA draft again as expected, with Washington taking aj
Speaker 4: Devansa and then Utah going with Darren Peterson. Cameron Boozer
Speaker 4: headed to Memphis and Caleb Wilson to North Carolina. At
Speaker 4: the World Cup, a breakout victory for Cristiano Ronaldo and
Speaker 4: Portugal five nil over Uzbekistan. England surprisingly failed to score
Speaker 4: and ended with a scoreless tie against Ghana, much needed
Speaker 4: win for Croatia to keep hope alive one nil over Panama,
Speaker 4: and Columbia is advancing be Congo one nil.
Speaker 2: That's the Bloomberg Sports Update.
Speaker 3: Stay with us. More from Bloomberg Daybreak coming up after this.
Speaker 1: Coast to Coast on Bloomberg Radio nationwide, on Serious Exam
Speaker 1: and around the world on Bloomberg dot Com and The
Speaker 1: Bloomberg Business app This is Bloomberg Daybreak.
Speaker 2: Good morning.
Speaker 6: I'm Nathan hager On the morning after primary elections in
Speaker 6: New York, Maryland, and a couple other states. While Mayor
Speaker 6: Zoron Mumdani wasn't on the ballot in New York, his
Speaker 6: influence may have been in three key house races, including
Speaker 6: for former City Comptroller Brad Lander.
Speaker 5: Brad brings a kindness to this work. He brings a
Speaker 5: sincerity to this work. He brings a vision of politics
Speaker 5: that is more than what we've seen for.
Speaker 2: So long as Mayor mum Donnie.
Speaker 6: Last night's victory party for Brad Lander and the race
Speaker 6: against Democratic incumbent Dan Goldman and for more were joined
Speaker 6: by Jennifer Lawless, professor of politics at the University of Virginia.
Speaker 6: Did we just see Mayor mum Donnie flex's political muscles
Speaker 6: last night?
Speaker 2: Jen Good morning, Good morning.
Speaker 13: There's no question that mum Donnie had a good night
Speaker 13: last night. All three of the congressional races in which
Speaker 13: he got involved saw his candidate win the race. So
Speaker 13: there is definitely a shift, at least in the New
Speaker 13: York Congressional delegation.
Speaker 6: Is this a shift that has implications for the Democratic
Speaker 6: Party more broadly across the country or is it just
Speaker 6: centered in New York?
Speaker 2: Do you think? I think it's a little bit of both.
Speaker 13: There are implications because it's clear that when Democratic socialists
Speaker 13: and candidates running to the left of establishment Democrats run
Speaker 13: in certain areas, they can win, and it suggests that
Speaker 13: mum Donnie's victory was not a fluke. But when we
Speaker 13: look across the country, it's also very district specific. We
Speaker 13: saw a pretty establishment Democrat win in a very blue
Speaker 13: district in Utah. We saw an establishment Democrat win in
Speaker 13: the most competitive and most expensive primary in Maryland. So
Speaker 13: I think there's six of one and half a dozen
Speaker 13: of another.
Speaker 2: Okay.
Speaker 6: We also saw no endorsement for the crowded race to
Speaker 6: succeed Congressman Jerry Nadler in Midtown Manhattan. Michah Lasher won
Speaker 6: that one with backing from Michael Bloomberg. Does that potentially
Speaker 6: send a counter narrative.
Speaker 13: I don't know if it sends a counter narrative, but
Speaker 13: it does suggest that Mamdami and people like AOC are
Speaker 13: not going to be involved in every race across the country.
Speaker 13: They're not going to be involved in every race across
Speaker 13: the New York delegation. Even they're clear in that they're
Speaker 13: very strategic. There are certain political opportunities that they see
Speaker 13: that they can take and they can win. I think
Speaker 13: that Dan Goldman race was a perfect example of that.
Speaker 13: Not only were their issues regarding Israel and Gaza, but
Speaker 13: there were also affordability issues that resonated in that district
Speaker 13: with those voters with that incumbent.
Speaker 2: Well, what's the message from last night?
Speaker 6: As far as the results go for the establishment in
Speaker 6: New York City, many of whom are talking about potentially
Speaker 6: leaving the city.
Speaker 13: It seems to me that both Chuck Schumer and Jakim
Speaker 13: Jeffries have to take very seriously the idea that residents
Speaker 13: in their districts and in their state are not content
Speaker 13: with the status quo. That doesn't mean they're going to
Speaker 13: vote Republican. It doesn't mean that they're going to walk
Speaker 13: away from Democratic nominees and districts where establishment candidates win.
Speaker 13: But I think it does send a very clear signal
Speaker 13: that the Democratic Party needs to think about how to
Speaker 13: build a broader tent and be more inclusive to people
Speaker 13: and candidates who might have always been seen a little
Speaker 13: bit too far to the left.
Speaker 3: This is Bloomberry Daybreak, your morning podcast on the stories
Speaker 3: making news from Wall Street to Washington and beyond.
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Speaker 2: I'm Karen Moscow and I'm Nathan Hager.
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