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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with the latest on efforts to end

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Speaker 3: the war in Ukraine. President Trump held a two hour

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Speaker 3: phone call yesterday with Russian President Vladimir Putin. He came

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Speaker 3: away from it saying both sides will immediately start negotiations,

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Speaker 3: but possibly without the US.

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Speaker 4: The President talked about the call at the White House

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Speaker 4: last night.

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Speaker 5: I think something is going to happen.

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Speaker 6: It's a very big egos involved. I tell you, big

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Speaker 6: egos involved. But I think something's going to happen. And

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Speaker 6: if it doesn't, I just back away.

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Speaker 4: And they're going to have to keep going.

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Speaker 3: President Trump says the war should have remained a European situation.

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Speaker 3: At the same time, he says he's not ruling out

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Speaker 3: further sanctions on Russia, but he's not giving a timeline

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Speaker 3: for talks.

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Speaker 4: We get more from Bloomberg's Pyotr Skolamowski.

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Speaker 7: Trump the conversation as excellent. Putting talked about it being

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Speaker 7: frank and constructive. As a matter of fact, what was

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Speaker 7: produced was certain commitment for Russia and Ukraine to present

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Speaker 7: memorandums that will then go into four discussions. But what

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Speaker 7: Trump made clear is that he is effectively stepping away

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Speaker 7: as a broker in the conflict and trying to kind

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Speaker 7: of be a referee in bringing two sites together.

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Speaker 3: Bloomberg's Pyotr Skolamowski reports President Trump also talked about the

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Speaker 3: Vatican as a possible host for peace negotiations.

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Speaker 2: Now to the latest on the war in the Middle East,

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Speaker 2: Nathan Prime Minister Benjamin and Yahoo says Israel will take

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Speaker 2: over the entire Gaza strip and the military will carry

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Speaker 2: out a quote unprecedented attack on Hamas. The new developments

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Speaker 2: come as the leaders of France, Britain and Canada called

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Speaker 2: on Israel to stop its military operations in Gaza and

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Speaker 2: allow humanitarian aid to enter the territory. Here's a British

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Speaker 2: Prime Minister, Kiir Starmer.

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Speaker 8: This is a really serious, unacceptable, intolerable situation and that's

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Speaker 8: why we are working intensely to coordinate with other leaders

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Speaker 8: how we respond to this.

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Speaker 2: British Prime Minister Keir Starmer, Cutter's Prime Minister says Israel's

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Speaker 2: new Gaza offensive will prevent peace.

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Speaker 3: Back in Washington, Karen. President Trump will be on Capitol

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Speaker 3: Hill later this morning. He'll be pressuring Republicans to put

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Speaker 3: their differences aside and get behind his big tax and

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Speaker 3: spending cut package. Plenty of disagreements remain, including on how

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Speaker 3: much to cut programs like Medicaid and food stamps, and

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Speaker 3: how much to raise the state and local tax deduction.

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Speaker 3: But how Speaker Mike Johnson says they're getting there.

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Speaker 9: This is the arguably the largest and most confrehensive use

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Speaker 9: of legislation that Congress has worked on in probably generations

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Speaker 9: of one of the most in the history of the country.

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Speaker 9: There's a lot of moving parks and a lot of

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Speaker 9: preferences and ideas on how to.

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Speaker 7: Handle all that.

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Speaker 3: House Speaker Mike Johnson spoke after a late night meeting

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Speaker 3: with Republicans from high tax states. He is still hoping

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Speaker 3: for a vote on the package by the end of

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Speaker 3: the week, and we're going to hear more from Speaker

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Speaker 3: Johnson tomorrow he sits down with Bloomberg's Marie Hordern in Washington.

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Speaker 3: We'll bring you that conversation live at nine am Wall

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Speaker 3: Street Time on Bloomberg Radio and the Bloomberg Podcast page

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Speaker 3: on YouTube.

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Speaker 2: Well if and it's back to normal this morning for

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Speaker 2: tens of thousands of rail commuters following a strike settlement

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Speaker 2: at New Jersey Transit, and we get the latest of

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Speaker 2: the Bloomberg's John Tucker, John, Good morning.

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Speaker 4: Yeah, normal so far, Karen.

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Speaker 10: The first scheduled train was number thirty eight oh six

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Speaker 10: that left Trenton just before four am and headed to

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Speaker 10: Newark and New York Penn Station. Now this morning is

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Speaker 10: the first time the trains are running in four days

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Speaker 10: after a walkout that started early Friday. New Jersey Transit

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Speaker 10: and the Train Engineers Union did reach a tenetive agreement

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Speaker 10: on Sunday, but it took at least a day to

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Speaker 10: inspect tracks and conduct safety checks. On its website this morning,

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Speaker 10: NJ Transit indicates all trains are on time and if

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Speaker 10: tickets or passes expired during the strike, they will still

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Speaker 10: be honored. And the state officials had asked commuters to

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Speaker 10: work from home during the strike of their presence in

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Speaker 10: the workplace was not considered essential. It's now the union's

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Speaker 10: job to go back in brief their members and put

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Speaker 10: the agreement up for ratification. The engineers had already voted

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Speaker 10: down a previous agreement, but New Jersey givenor Phil Murphy

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Speaker 10: says he has a high degree of confidence that the

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Speaker 10: engineers will find the new terms acceptable. In New York

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Speaker 10: on John Tucker Bloomberg.

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Speaker 3: Radio, all right, John, thanks, many of those commuters are

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Speaker 3: headed to Wall Street this morning, they'll find futures headed lower.

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Speaker 3: Following yesterday's turnaround, Retail investors helped fuel the S and

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Speaker 3: P five hundred to another day of gains. We get

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Speaker 3: more from Bloomberg's Valery Titel.

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Speaker 1: Thanks straight datas and gains for the s ME five hundred,

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Speaker 1: and we totally shrugged off the Moody's downgrade. I mean,

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Speaker 1: yesterday morning, at one point the sp was down one

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Speaker 1: point four percent in the futures. It totally reversed that

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Speaker 1: in the afternoon. I think the takeaway was that Moody's, frankly,

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Speaker 1: isn't telling us anything new. We already knew about the

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Speaker 1: interest expense, We already knew about this wide deficit of

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Speaker 1: the US government, And frankly, it just opened up a

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Speaker 1: dip buying opportunity.

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Speaker 3: Bloomberg's Valerie Titel says individual investors purchased in at four

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Speaker 3: point one billion in US stocks through twelve thirty pm

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Speaker 3: in New York. That's the largest level ever for that

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Speaker 3: time of day. JP Morgan Chase says it broke the

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Speaker 3: four billion threshold by noon for the first time ever.

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Speaker 2: Nathan Carlisle Group co founder David Rubinstein sees the US

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Speaker 2: deficit has a bigger issue than trade. At an event

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Speaker 2: hosted by the firm in Tokyo, the billionaire said the

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Speaker 2: US has been allowed to accumulate dead because the dollar

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Speaker 2: is the world's reserve currency. He said, quote, if we

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Speaker 2: don't get it under control, at some point, people will

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Speaker 2: become more nervous about the dollar as a reserve currency

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Speaker 2: and its stability. David Rubinstein also hosts peer to peer

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Speaker 2: conversations on Bloomberg Television and Karin.

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Speaker 3: JP Morgan Chase CEO Jamie Diamond says elevated inflation and

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Speaker 3: stagflation are more likely than many think, and that today's

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Speaker 3: markets aren't pricing in the chance of a downturn. Diamond

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Speaker 3: spoke yesterday at JP Morgan's Investor.

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Speaker 11: Day, you haven't seen in effective tariffs. The market came

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Speaker 11: down ten percent, it's back on ten percent. I think

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Speaker 11: that's an extraordinary amount of placency. That's my own view

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Speaker 11: that when I've seen all these things adding up that

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Speaker 11: are on the fringes of extreme kind of thing, I

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Speaker 11: don't think we could predict the outcome, And I think

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Speaker 11: there's a chance of inflation going up, and stagflation is

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Speaker 11: a little higer.

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Speaker 12: Than other people think.

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Speaker 3: By JP Morgan, Chase CEO Jamie Diamond predicts his bank

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Speaker 3: will be fine amid the market turbulence, the firm sticking

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Speaker 3: with its forecast for full year net interest income of

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Speaker 3: ninety four and a half billion dollars.

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Speaker 2: We turn to the economy now, Nathan and Atlanta FED

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Speaker 2: President Raphael Bostik still expects the central Bank to deliver

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Speaker 2: one interest rate cut this year, but the timing will

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Speaker 2: depend heavily on trade policy. Bollstick told Bloomberg's Michael McKee

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Speaker 2: prolonged tariff negotiations could delay the Fed's next move.

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Speaker 4: Things could go faster.

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Speaker 13: It could be the case that these negotiations bear a

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Speaker 13: lot of fruit. We know what the numbers are and

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Speaker 13: they perhaps come in lower than people are expecting. In

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Speaker 13: that case, we may be able to pull forward some

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Speaker 13: of our actions because there may not be as much

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Speaker 13: that we need to do in terms of the Mountain,

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Speaker 13: the price level.

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Speaker 2: Atlanta FED President Raphael Bostak spoke to Bloomberg at the

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Speaker 2: Atlanta Fed Annual Policy and Research event, and you can

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Speaker 2: watch the full conversation on the Bloomberg podcast page on YouTube.

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Speaker 2: And it's time now for it look at some of

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Speaker 2: the other stories making news in New York and around

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Speaker 2: the world, and for that we're joined by Bloomberg's Michael Barr.

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Speaker 4: Michael, good Morning, Good morning, Karen.

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Speaker 12: NTSB officials continue to investigate after a Mexican Navy tall

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Speaker 12: ship that crashed into the Brooklyn Bridge Saturday night, killing

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Speaker 12: two crew members. The ship was said to have lost

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Speaker 12: power before its masts hit the main span of the bridge.

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Speaker 12: NTSB member Michael Graham there is.

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Speaker 8: No significant structural damage to the load bearing elements of

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Speaker 8: the bridge. There is some damage on one of the

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Speaker 8: travelers which they use to access and survey the bridge

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Speaker 8: at this point, but nothing structural from the bridge is

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Speaker 8: an issue at this plant.

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Speaker 12: The NTSB's Michael Graham says the training who was carrying

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Speaker 12: nearly three hundred people. New Jersey's top federal prosecutor says

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Speaker 12: she is charging Democratic Representative Lamonica mcgiver with assault after

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Speaker 12: a skirmish with federal officers who arrested the mayor of

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Speaker 12: Newark outside and Immigration Detention Center. Interim US Attorney Alina

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Speaker 12: Haba also announced that her office is dismissing the misdemeanor

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Speaker 12: case brought against Newark Mayor ros Baraka. Tornadoes have been

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Speaker 12: reported from Oklahoma and Nebraska overnight as severe storms move

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Speaker 12: across the country. Bloomberg's Craig Allen has.

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Speaker 14: More severe thunderstorms have been spawning tornadoes and producing baseball

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Speaker 14: sized hell moving out of the Central Plains and the

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Speaker 14: Mississippi Valley states and now going into the Lower Ohio

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Speaker 14: Valley as well as Tennessee Valley states. An enhanced risk

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Speaker 14: for over two hundred and fifty thousand square miles across

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Speaker 14: the east central portion of the US for today, and

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Speaker 14: nearly thirty million people will be under some kind of

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Speaker 14: severe thunderstorm or tornado watch at some point during the day.

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Speaker 12: Bloomberg's Craig Allen singer Don Richard has told the jury

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Speaker 12: and the sex trafficking and racketeering trial of Sean Diddy

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Speaker 12: Combs that he threatened her with death if she told

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Speaker 12: anyone that she saw the influential hip hop promoter beat

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Speaker 12: his longtime girlfriend, the singer Cassie. Global News twenty four

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Speaker 12: hours a day and whenever you want it with the

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Speaker 12: Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Heart.

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Speaker 2: All right, Michael Barr, thank you time now for the

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Speaker 2: Bloomberg Sports Update. Here's John Stashauer.

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Speaker 4: John, good morning, Good morning there. And the Mets lost again.

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Speaker 15: They are in a slump and they are no longer

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Speaker 15: in first place at Fenway Park. The Red Sox got

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Speaker 15: the Mets as code I singa early on another.

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Speaker 16: Line, right bad one down, the right for you line

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Speaker 16: all the way the way, Dobias churing around thirties being

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Speaker 16: a way to do. He's gonna score in the third

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Speaker 16: base standing up with another triple, Jaron Durant to go

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Speaker 16: this dumble little first day and the suck so I'm

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Speaker 16: talking to.

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Speaker 15: Nothing, yess In the car Red Sox led three to

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Speaker 15: one third inning. There was no scoring after that. Metsov

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Speaker 15: lost four their last five. They are under five hundred

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Speaker 15: on the road and under five hundred over their last

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Speaker 15: twenty three games. And when the Phillies won at Colorado,

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Speaker 15: the Phils moved ahead of the Mets in the NLA's

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Speaker 15: Juan Soto is batting just two forty six.

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Speaker 17: Think it's part of the game, is an all was

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Speaker 17: gonna be uh great. You know who's gonna hop up

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Speaker 17: and downs. Who's just got to keep our chin up

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Speaker 17: and keep moving forward. You know, it's a game of failure.

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Speaker 17: Sometimes you've gotta fail and you just gotta keep moving forward.

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Speaker 15: Sodo has only driven in twenty runs with the Yankees.

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Speaker 15: Last season, they drove in one hundred and nine Yankees

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Speaker 15: at the stadium tonight to play Texas. The NBA Tonight

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Speaker 15: has Game one in the West, the NHL as the

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Speaker 15: opener in the East. Mix and Facers get going tomorrow

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Speaker 15: at the Guard in the ninth playoff series between the

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Speaker 15: two teams. Indiana has won five of the eight, including

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Speaker 15: last year when the next season ended with a Game

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Speaker 15: seven loss at MSG. Philadelphia Eagles just won the Super Bowl.

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Speaker 15: They have awarded coach Nick Sirianni with a contract extension.

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Speaker 15: The Eagles have also rehired to their front office Joe Douglas,

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Speaker 15: who left Philly when it became general manager of the Jets.

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Speaker 15: The Eagles are pushing NFL teams did not get rid

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Speaker 15: of the tush push the play Philly has perfected but

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Speaker 15: got tabled last month and may get banned this week

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Speaker 15: when NFL owners meet in Minnesota. For the play to

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Speaker 15: be no longer allowed, twenty four of the thirty two

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Speaker 15: teams need to vote, to Bannett John Stashley that we're

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Speaker 15: Bloomberg Sports Karen Nathan.

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Speaker 12: Coast to Coast on Bloomberg Radio nationwide on Serious Exam and.

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Speaker 15: Around the world on Bloomberg dot Com and the Bloomberg

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Speaker 15: Business app.

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Speaker 4: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.

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Speaker 3: It was just a few days ago President Trump was

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Speaker 3: calling for new sanctions on Russia if President Vladimir Putin

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Speaker 3: would not agree to a thirty day ceasefire with Ukraine. Now,

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Speaker 3: after a two hour phone call with the Russian leader,

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Speaker 3: the President is airing more frustrations with the process.

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Speaker 6: This was a European situation. It should have remained a

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Speaker 6: European situation. Should have remain what we have because the

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Speaker 6: past administration felt very strongly that we should be involved,

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Speaker 6: and we get involved much more than Europe did.

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Speaker 3: That was President Trump, speaking at the White House hours

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Speaker 3: after his Putin call for more We were joined this

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Speaker 3: morning by Rosalind Mathis and Bloomberg's news director for Europe,

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Speaker 3: the Middle East and Africa, Roz if we take the

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Speaker 3: president of this word that it should have been a

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Speaker 3: European situation, what's the feeling in Europe about where things

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Speaker 3: stand now between Russia and Ukraine after this call?

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Speaker 4: Good morning, good morning.

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Speaker 5: Well, it certainly seems like Donald Trump at this point

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Speaker 5: is saying, in fact that he's punting this over to

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Speaker 5: Europe to handle, in that he's not going to be

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Speaker 5: directly mediating conversations around the seas far between Russia and Ukraine,

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Speaker 5: and he wants this to happen, but he wants others

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Speaker 5: to be sorting it from here. The question is can

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Speaker 5: Europe actually do this? I mean, it's very difficult for Europe,

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Speaker 5: which has been a bit sidelined for months in these

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Speaker 5: conversations and certainly to be getting in the middle with

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Speaker 5: Russia on this one. And so the big question for

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Speaker 5: Europe and for Russia and for Ukraine particularly now is

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Speaker 5: what is the path forward to direct talks between Russia

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Speaker 5: and Ukraine. Can those talks happen, where would they happen,

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Speaker 5: under what parameters might they happen, what level of officials

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Speaker 5: would be there, and who's going to arrange all of

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Speaker 5: that now, like who is the go between for Russia

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Speaker 5: and Ukraine to make this happen if the US is

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Speaker 5: withdrawing a bit, as per Donald Trump's comments or indications

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Speaker 5: rather yesterday, and so for Europe probably a lot of

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Speaker 5: disappointment at how those calls went. That Trump did not

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Speaker 5: increase the pressure, if anything, on Vladimir Putin, did not

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Speaker 5: talk about sanctioning Russia potentially, and they were hoping that

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Speaker 5: he would lean heavily on Vladimir Putin to get to

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Speaker 5: the table, and that didn't happen. And so now is

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Speaker 5: the question is how is this going to move forward?

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Speaker 5: And again who's going to be able to drive it forward?

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Speaker 3: Well before this cal raz President Trump had said nothing

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Speaker 3: was going to happen until he gets face to face

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Speaker 3: with Vladimir Putin.

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Speaker 4: Is the implication that that's off the table now? Well, actually, he.

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Speaker 5: Indicated he's still quite happy to meet the Russian leader

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Speaker 5: and vice versa, that at some point the two of

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Speaker 5: them do want to find a way to sit down together.

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Speaker 5: But perhaps that conversation, while touching on Ukraine, would also

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Speaker 5: be about a bunch of other matters, and most particularly increasingly,

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Speaker 5: it seems about the bilateral relationship between the US and Russia,

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Speaker 5: including economic ties, investment ties, trade ties, business ties, and

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Speaker 5: all that kind of stuff. And so it'd be a

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Speaker 5: lot more about the direct relationship between the US and

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Speaker 5: Russia going forward from a business perspective, versus being a

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Speaker 5: big meeting to set the parameters again for Ukraine going forward.

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Speaker 5: So he's still talking about wanting to meet Vladimir Putin,

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Speaker 5: and again Vladimir Putin seems open to that, but the

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Speaker 5: nature of that conversation might end up being quite different.

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Speaker 3: Just thirty seconds left, Rose of the Republican Senator Lindsey

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Speaker 3: Graham had talked about bone crushing sanctions on Russia.

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Speaker 4: Things didn't move forward. Is that still on the table?

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Speaker 5: Well, certainly from what Don Trump was saying yesterday, it

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Speaker 5: seems not or there's not going to be a big

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Speaker 5: amount of push coming from the US to put sanctions,

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Speaker 5: further sanctions on Russia, increase that pressure on Russia in

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Speaker 5: the near term. Mean, Don Trump did say he doesn't

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Speaker 5: rule out that happening at some point, but he didn't

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Speaker 5: indicate is any rush to do so. And that leaves

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Speaker 5: Europe again increasing some of the sanctions on Russia from there,

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Speaker 5: but without the US leverage, which is arguably perhaps more

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Speaker 5: significant on Russia on the economic side. Again, those sanctions

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Speaker 5: may not have so much of an impact in terms

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Speaker 5: of potentially altering the cause for Vladimir Putin or his behavior.

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Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories

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