Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager.
Speaker 1: And I'm Karen Moscow. Here are the stories we're following today.
Speaker 3: Karen will have more on the markets in a minute. First,
Speaker 3: the latest on the war in the Middle East. As
Speaker 3: tensions deepened between President Biden and Israeli Prime Minister Benjamin Netanyahu.
Speaker 3: The two leaders are scheduled to speak by phone today.
Speaker 3: Bloomberg's Amy Morris reports from Washington.
Speaker 4: President Biden issued his most forceful criticism yet of Israel's
Speaker 4: military conduct after the airstrike on a convoy of workers
Speaker 4: from World Central Kitchen, a disaster relief group founded by
Speaker 4: Chef jose Andres, saying he was outraged and heartbroken and
Speaker 4: calling for swift investigations. The President also accusing Israel of
Speaker 4: not doing enough to protect civilians.
Speaker 5: Now.
Speaker 4: Today's call will be the first between the two men
Speaker 4: since the AID workers were killed. They last spoke on
Speaker 4: March eighteenth in Washington. Amy Morris Bloomberg Radio, Amy, thank
Speaker 4: you well.
Speaker 1: Israel's Prime minister is facing more pressure from within his
Speaker 1: own war cabinet. Benny Ganz, the former military commander who
Speaker 1: now heads Israel's National Unity Party, is calling for early
Speaker 1: elections in September rather than twenty twenty six as scheduled.
Speaker 1: Gansa's popularity has surged with Israeli voters, while Nettan Yahoo's
Speaker 1: has dived. Now Netan Yaho's Likud party says early elections
Speaker 1: would lead to paralysis, division and fatal damage to the
Speaker 1: chances for a hostage deal, but Gan says it would
Speaker 1: not dent Israel's war effort against Tamas and would prevent
Speaker 1: a rift in the nation.
Speaker 3: Well, now, Karen to the latest on US China relations.
Speaker 3: Treasury Secretary Janet Yellen is on her way to China.
Speaker 3: It'll be her second trip in nine months. Yellen spoke
Speaker 3: to reporters in Alaska before leaving and have agreed.
Speaker 6: That it's important to both of us that we don't
Speaker 6: want to decouple our economies. We want to continue.
Speaker 7: We think we both.
Speaker 6: Benefit from trade and investment, but it needs to be
Speaker 6: in the local playing field.
Speaker 3: And while in China, Secretary Yellen will spend two days
Speaker 3: in the southern commercial manufacturing hub of Guangzhou before heading
Speaker 3: to Beijing for two more days of talks.
Speaker 1: We turn to the economy now. Nathan Fedchaer, Jerome Powell
Speaker 1: is reaffirming the Central Bank well likely lower rates this year,
Speaker 1: and we get more from Bloomberg's John Tucker.
Speaker 8: John and Karen Powell's comments at Stanford University helped calm
Speaker 8: any market jitters.
Speaker 9: The policy rate is likely at its peak for this
Speaker 9: tightening cycle. If the economy evolves broadly as we expect,
Speaker 9: most FMC participants see it as likely to be appropriate
Speaker 9: to begin lowering the policy rate at some point this year.
Speaker 8: Pal said. Recent inflation figures, though higher than expected, did
Speaker 8: not materially change the overall picture. Investors are putting roughly
Speaker 8: even odds on an initial rate cut in June, and
Speaker 8: pricing does suggest they see a chance of fewer than
Speaker 8: three reductions this year. Next op investors will closely watch
Speaker 8: non farm payroll data tomorrow for further clues on the
Speaker 8: health of the USA economy and the likely path of
Speaker 8: monetary policy. John Tucker, Bloomberg Radio.
Speaker 3: All right, John, thanks for all investors focused in on
Speaker 3: j Powell. A busy week for Fed speak continues. We'll
Speaker 3: hear from seven different FED officials at different events today. Yesterday,
Speaker 3: FED Governor Adriana Kougler said lower rates are likely this year.
Speaker 3: She said inflation could moderate further without significant cost to
Speaker 3: jobs or economic growth this year, even.
Speaker 10: With demand growth cooling. Given the backdrop of solid supply,
Speaker 10: my baseline expectation is that further disiplation can be accomplished
Speaker 10: without a significant rise in unemployment.
Speaker 3: In FED Governor Adriana Coogler made those comments yesterday at
Speaker 3: Washington University in Saint.
Speaker 1: Louis Well plenty of company news this morning. Nathan Exon
Speaker 1: Mobiles says first quarter earnings will likely be lower than
Speaker 1: in the prior three month period due to falling oil
Speaker 1: and gas prices. We get details from Bloomberg's Turni Pillot.
Speaker 11: In a filing, Exxon said it's upstream division will take
Speaker 11: a hit of as much as one billion dollars from
Speaker 11: lower oil and gas prices. Exon is the first of
Speaker 11: the oil majors to publish earnings guidance for the first quarter.
Speaker 11: The expected drop in profit may signal a tougher earning
Speaker 11: season ahead than the prior period, when four of the
Speaker 11: five super majors comfortably beat handleist expectations despite lower commodity prices.
Speaker 11: In New York, Charlie Pellett Bloomberg Radio.
Speaker 3: All Right, Charlie thank you well, it's a big victory
Speaker 3: for Bob Eiger. Walt Disney shareholders have handed the chief
Speaker 3: executive officer a big vote of confidence, rejecting dissident investor
Speaker 3: Nelson Peltz has been for a board seat at the
Speaker 3: entertainment giant. Gatha Ranganatham covers Disney for Bloomberg Intelligence.
Speaker 12: In terms of any near term changes, I think it's
Speaker 12: just going to be business as usual. Obviously he comes
Speaker 12: out victorious. I think this is definitely going to supercharge
Speaker 12: him and his efforts, but there is going to be continued.
Speaker 12: I think watch on kind of how Disney performs, but
Speaker 12: obvious sleep for today. I think mab Biger is definitely
Speaker 12: very relieved.
Speaker 3: Keith the Rong Andnathan of Bloomberg Intelligence says shareholders elected
Speaker 3: all of Disney's choices for the board. Disney is the
Speaker 3: best performing stock in the Dow Jones Industrial Average this year.
Speaker 2: It's up almost thirty two percent.
Speaker 1: Nathan another media news Bloomberg News has learned Paramount Global,
Speaker 1: the parent of CBS and MTV, is getting closer to
Speaker 1: a deal to merge with independent producer David Ellison's sky
Speaker 1: Dance Media. Hears a Paramount have declined for years, reflecting
Speaker 1: the company's loss of TV viewers to other forms of
Speaker 1: entertainment and its costly efforts to develop a streaming service.
Speaker 3: We're keeping an eye on Apple, Karen. The tech giant
Speaker 3: is exploring a move into personal robotics. Source to say
Speaker 3: Apple engineers are looking for their next big thing after
Speaker 3: canceling a major electric vehicle project.
Speaker 2: In February, Bloomberg's Mark German broke the story.
Speaker 13: This is very nascent, very early. Would be a home
Speaker 13: robot that can follow you around. It would navigate autonomously
Speaker 13: like the self driving car Apple was working on. It
Speaker 13: would have a focus on video conferencing, and there's even
Speaker 13: been discussion internally. This is a pie in the sky idea.
Speaker 13: The eventual peak of robotics could be the device being
Speaker 13: able to do the dishes, clean the dishes in your sink,
Speaker 13: on your.
Speaker 2: Behalf, and blue brigs.
Speaker 3: Mark German says Apple's advertising for robotics related roles on
Speaker 3: its website, indicating that it's trying to expand teams working
Speaker 3: on the project.
Speaker 1: He Nathan, we have news out of the executive suite
Speaker 1: this morning. Carlisle Group chief executive Harvey Schwartz was awarded
Speaker 1: a one hundred and eighty seven million dollar pay package
Speaker 1: in his first year at the private equity firm. The
Speaker 1: former Goldman Sachs president has been tasked with steadying Carlisle
Speaker 1: for growth and bolstering its stock price, which is lagged
Speaker 1: behind its biggest publicly traded rivals. And it's time now
Speaker 1: for a look at some of the other stories making
Speaker 1: news in New York and around the world. We're joined
Speaker 1: by Bloomberg's Michael Barr.
Speaker 2: Michael, good morning, Good morning Karen.
Speaker 14: The rescuers are searching for survivors a day after Taiwan's
Speaker 14: strongest earthquake in a quarter century. Damage buildings, caused multiple
Speaker 14: rock slides and killed at least nine people. More than
Speaker 14: a thousand people were injured in the quake. Meanwhile, the
Speaker 14: White House says it is in touch with officials in
Speaker 14: Taiwan and are ready to help in whatever way is required.
Speaker 14: Several days of torrential rain soaked the Tri state area.
Speaker 14: Southern New Jersey. Residents are worried about flooding, while others
Speaker 14: just want the rain to stop. In Westville, New Jersey,
Speaker 14: construction crews worked in the mud, and one worker admits
Speaker 14: it wasn't pleasant.
Speaker 8: It's not the easiest conditions in the world, that's for sure.
Speaker 8: You know, we've were working out in the rain all day.
Speaker 11: Cold, you know, chilly, muggy.
Speaker 14: Other parts of New Jersey had downed trees and power lines.
Speaker 14: New York Mayor Eric Adams and the NYPD released crime
Speaker 14: statistics for the first quarter of this year. According to Adams,
Speaker 14: there has been more than a twenty three percent drop
Speaker 14: and overall crime in the subway system from March of
Speaker 14: twenty twenty four to the same time last year. Adams
Speaker 14: reference to the moment earlier this week when he and
Speaker 14: officers were down in the subway system.
Speaker 15: People were walking through the gate or attempting to walk
Speaker 15: through the gates so frequently, and one guy.
Speaker 2: Told us what is transit is free, has been free
Speaker 2: for weeks.
Speaker 15: No one was taking the initiative of saying this is
Speaker 15: the expected behavior on our system. We're now taking that initiative.
Speaker 14: Adam's also highlighted the one thousand additional uniformed officers into
Speaker 14: the subway system each day. Foreign ministers, including Secretary of
Speaker 14: State Anthony Blanklin, gathered in Brussels to mark seventy five
Speaker 14: years of NATO.
Speaker 16: Let us together protect all we built in seventy five
Speaker 16: years under NATO's shield, and I'm sure that remains strong
Speaker 16: to keep building for the next seventy five years and
Speaker 16: well beyond that.
Speaker 14: It was founded in nineteen forty nine as collective protection
Speaker 14: against aggression from the Soviet Union. Global News twenty four
Speaker 14: hours a day and whenever you want it with the
Speaker 14: Bloomberg News. Now. I'm Michael Barr in this is Bloomberg Heron.
Speaker 1: All right, Michael barr thank you. Time now for the
Speaker 1: Bloomberg Sports Update with John Stashauer.
Speaker 2: John, good morning, Good morning, Karen.
Speaker 5: Rangers and Devils at the Garden. When they met last
Speaker 5: month in Newark, there was an illegal hit by the
Speaker 5: Rangers rookie and forcer, and Matt Rempy got suspended for it.
Speaker 5: The Devils felt they didn't have a chance for adequate revenge.
Speaker 5: So here's what took place. A second after the opening
Speaker 5: face off, the.
Speaker 17: Gloves are dropped. We've got a line brawl Jimmy Feci
Speaker 17: and it looks like Curtis Lazaar, so I have to
Speaker 17: set a redline. Meanwhile, Rempy and McDermott trump the gloves
Speaker 17: outside the circle.
Speaker 11: Goutrow has picked.
Speaker 17: Up Kevin Ball, Jacob Truba has picked up Chris Tierney,
Speaker 17: and back of the Rangerson, you've got KeAndre Miller and
Speaker 17: Sean Marito.
Speaker 5: He has been radied with the blow by blow. It
Speaker 5: was the scene straight out of the movie Slap Shot.
Speaker 5: The main event was a rempy against the Devil's Curtis McDermott.
Speaker 5: They squared off for about ninety seconds, ten fighting penalties,
Speaker 5: eight game misconducts, and then they played hockey and the
Speaker 5: Rangers won four to three on a Chris Crader goal
Speaker 5: with five minutes left. Nets beat the Pacers one, fifteen,
Speaker 5: one eleven in Boston, Celtics sixtieth winner thirty three and three.
Speaker 5: At home, they blew out Oklahoma City by thirty five.
Speaker 5: Celtics that clinched home court throughout the NBA playoffs. Yankees
Speaker 5: back in New York home opener tomorrow. Water road trip
Speaker 5: to start the season against two quality teams, Houston and Arizona.
Speaker 2: They went six to one. Four of the wins were
Speaker 2: nail biers.
Speaker 5: They ended the trip beating the Diamondbacks six to five
Speaker 5: and eleven and eight's two run homers for Aaron Judge
Speaker 5: and Alex Verdugo. First of the year for Judge versus
Speaker 5: a Yankee for Verdugo Mets and Tigers. Another rain out,
Speaker 5: at least this time. They made the call early on
Speaker 5: doubleheaded this afternoon at City Field and the Dodgers five
Speaker 5: to four window of the Giants, a long home run
Speaker 5: for Joeyotani is first with his new team his old team.
Speaker 5: The Angels won ten to two in Miami, and the
Speaker 5: Marlins are all and seven, with all seven losses at home.
Speaker 5: Buffalo Bills have traded their four time Pro Bowl wideout
Speaker 5: Stefan Diggs to Houston for a second round draft pick
Speaker 5: next year. John Stashedward, Bloomberg Sports Karon, Nathan all.
Speaker 1: Right, John, thank you. SNP and Down futures at a
Speaker 1: quarter percent this morning, Nasdaq futures at fourteen of up percent,
Speaker 1: and the ten year Treasury yield four point three five percent.
Speaker 7: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 7: and around the world on Bloomberg dot Com and the
Speaker 7: Bloomberg Business app. This is Bloomberg Daybreak. Good morning.
Speaker 3: I'm Nathan Hager, waiting on what could be a tough
Speaker 3: call for President Biden and Israeli Prime Minister Benjamin Netanyahu.
Speaker 3: The two leaders are set to speak by phone today,
Speaker 3: just three days after the deadly strike on World Central
Speaker 3: kitchen workers in Gaza that prompted some of the toughest
Speaker 3: words yet from the President over Israel's conduct of its
Speaker 3: war with Hummas. For the latest were joined by Bloomberg
Speaker 3: News Senior editor Bill Ferries. Bill, good morning. We've seen
Speaker 3: this shift in rhetoric that's been building from President Biden
Speaker 3: really since this war began. It almost seems like this
Speaker 3: incident that killed those seven World Central Kitchen workers has
Speaker 3: really brought things to a head.
Speaker 7: Yeah.
Speaker 18: I think it's the latest blow in a very very
Speaker 18: strained relationship, particularly between these two leaders. And you know,
Speaker 18: we've heard for weeks the White House and President Biden
Speaker 18: himself calling for a different approach, particularly with so many
Speaker 18: people huddled in the southern Gaza city of Rafa now
Speaker 18: in Israel, saying it will continue to go forward with
Speaker 18: plans for some kind of a ground invasion. And so
Speaker 18: this call today is going to be the kind of
Speaker 18: the latest chapter in that between between these two leaders.
Speaker 18: The real question is, though, whether whether the US pressure
Speaker 18: ends up really going beyond the public rhetoric and whether
Speaker 18: it starts to hold off on some of these kind
Speaker 18: of big ticket weapons sales or weapons provisions to Israel
Speaker 18: that have always kind of defined the relationship. So far,
Speaker 18: the Biden administration hasn't been willing to go that far.
Speaker 18: There has been some talk around the margins about doing so,
Speaker 18: but nothing serious.
Speaker 1: And so.
Speaker 18: The latest strike has drawn a lot of criticisms, but
Speaker 18: it hasn't fundamentally changed what's happening on the back side
Speaker 18: of the relationship.
Speaker 7: Now.
Speaker 3: That is the real question, isn't it, Bill, Because we
Speaker 3: have seen this sort of growing divide between the rhetoric
Speaker 3: that we're hearing from the president and the policy still
Speaker 3: continuing for US support. But President Biden, as you say,
Speaker 3: is really starting to feel pressure even from within his
Speaker 3: own party, some powerful senators saying that the US should
Speaker 3: use its leverage when it comes to weapons to try
Speaker 3: to go to Israel in a different direction.
Speaker 18: Absolutely, there's a lot of political pressure on the president
Speaker 18: from both sides really on this now, but particularly in
Speaker 18: his party. You have young voters who are really mobilized
Speaker 18: by this issue, by the war, who are much more
Speaker 18: likely to have some sympathy for the Palestinian cause here
Speaker 18: and many of those voters are in some key swing
Speaker 18: states that the president will have to win if he
Speaker 18: wants to take the election in November. So I think
Speaker 18: it's you know, on the other hand, you have an
Speaker 18: Israeli Prime minister who hasn't shown much signs of backing down.
Speaker 18: So I don't know how you thread that needle. I
Speaker 18: don't know that these two leaders are going to have
Speaker 18: any kind of a big breakthrough today, but it will
Speaker 18: be I'm sure a very frank conversation about their disagreements.
Speaker 14: Now.
Speaker 3: Bill, of course, you're based in Singapore, so not too
Speaker 3: far in relative terms from what's happening in Taiwan after
Speaker 3: the deadly earthquake there. Can you get us caught up
Speaker 3: on the recovery.
Speaker 7: Sure.
Speaker 18: We just had an update from the emergency personnel running
Speaker 18: the rescue operations. They've raised the death toll so far
Speaker 18: from this quake to ten people. It's the worst quake
Speaker 18: that Taiwan has suffered in about twenty five years, but
Speaker 18: it does seem like a lot it could have been
Speaker 18: much worse if not for a lot of building code
Speaker 18: changes and things like that that came into effect. And
Speaker 18: after that nineteen ninety nine quake, there are still people stranded,
Speaker 18: potentially trapped, but it does seem like in terms of
Speaker 18: the human costs that it's topped out.
Speaker 14: So far.
Speaker 18: The economy seems to be getting back on track. You
Speaker 18: heard from TSMC, one of the world's most important semiconductor
Speaker 18: chip producers, that they are getting their operations back online.
Speaker 18: We do expect to hear at some point an impact
Speaker 18: on terms of their deliveries and sales, but that will
Speaker 18: be pretty limited given how quickly they are able to
Speaker 18: get these factories going again.
Speaker 2: Okay, Bill, thanks for this.
Speaker 3: As always, Bill Ferries, their senior editor for Bloomberg News,
Speaker 3: joining us this morning from Singapore. This is Bloomberg day
Speaker 3: Break Today, your morning brief on the stories making news
Speaker 3: from Wall Street to Washington and beyond.
Speaker 1: Look for us on your podcast feed at six am
Speaker 1: Eastern each morning, on Apple, Spotify, and anywhere else you
Speaker 1: get your podcasts.
Speaker 2: You can also listen live each morning starting at five
Speaker 2: am Wall Street time on Bloomberg eleven three to zero
Speaker 2: in New York, Bloomberg ninety nine to one in Washington,
Speaker 2: Bloomberg one six to one in Boston, and Bloomberg ninety
Speaker 2: sixty in San Francisco.
Speaker 1: Our flagship New York station is also allable on your
Speaker 1: Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus.
Speaker 2: Listen coast to coast on the Bloomberg Business app, serious XM,
Speaker 2: the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan
Speaker 2: Hager and I'm Karen Moscow.
Speaker 1: Join us again tomorrow morning for all the news you
Speaker 1: need to start your day right here on Bloomberg Daybreak