WEBVTT - US-Iran Talks Stall; Senate Passes Bill to Fund ICE and CBP

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with the latest from the Middle East.

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<v Speaker 3>The US and Iran are showing little signs of progress

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<v Speaker 3>in ceasefire talks after one of the worst bursts of

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<v Speaker 3>violence in the region in weeks. President Trump says negotiations

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<v Speaker 3>are in the final stages, but Iran's foreign minister says

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<v Speaker 3>there's been no tangible progress. The President says time is

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<v Speaker 3>on his side when you look.

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<v Speaker 4>At hundreds of thousands of soldiers were killed in these

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<v Speaker 4>various wars. They lasted many, many years. We're in there

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<v Speaker 4>for a few months, and what we've done is amazing.

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<v Speaker 3>President Trump spoke from the Oval Office. Meanwhile, Iran backed

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<v Speaker 3>Hezbola has rejected a US broker ceasefire in Lebanon. Bloomberg'sabir

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<v Speaker 3>abu Omar reports that's adding further complication to the peace process.

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<v Speaker 5>The hostilities between Israel and Hezbollah continue within the southern

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<v Speaker 5>part to Lebanon, but also the northern parts in Israel.

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<v Speaker 5>President Trump, on the other hand, has said that he

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<v Speaker 5>did not see the rejection from Hezbollah, and as a

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<v Speaker 5>matter of fact, he's been in touch with representatives who

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<v Speaker 5>told the president that they wanted to have the cease fire.

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<v Speaker 3>Blomberg Sabira ba Omar reports Israeli strikes in Lebanon have

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<v Speaker 3>killed at least eight people, according to the Lebanese Health Ministry.

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<v Speaker 3>Israel says Hesbilla fired several rockets at its soldiers, but

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<v Speaker 3>no one was hurt.

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<v Speaker 2>We have breaking news on Capitol Hill this morning. Nathan

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<v Speaker 2>the Senator has passed a sixty nine and a half

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<v Speaker 2>billion dollar bill that gives more than three years of

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<v Speaker 2>funding to two immigration enforcement agencies. The measure passed fifty

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<v Speaker 2>two to forty seven after a marathon vote that saw

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<v Speaker 2>Democrats try to corner Republicans on politically tricky amendment votes.

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<v Speaker 2>The bill passed the Senate after weeks and negotiations over

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<v Speaker 2>funding for the Secret Service to secure President Trump's ballroom.

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<v Speaker 2>That money was ultimately dropped from the package, but drew

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<v Speaker 2>rebuke from seven Republican senators. Republicans also stripped out funds

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<v Speaker 2>for the Justice to Artment that got bogged down by

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<v Speaker 2>concerns about a now defunct fund to compensate victims of

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<v Speaker 2>alleged politically motivated prosecution.

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<v Speaker 3>Als Roun Capitol hillcreen. The House has approved a new

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<v Speaker 3>round of aid to Ukraine and sanctions on Russia, in

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<v Speaker 3>a backhanded rebuke of President Trump's foreign policy.

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<v Speaker 6>The eyes are two hundred and twenty six, the nays

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<v Speaker 6>are one hundred and ninety five. The bill is passed

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<v Speaker 6>without objection.

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<v Speaker 4>The motion reconsider is laid upon the table.

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<v Speaker 3>House Democrats forced to vote on the package through what's

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<v Speaker 3>known as a discharge petition. That's a procedural tool that

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<v Speaker 3>Republican leaders oppose. President Trump's raised questions about the cost

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<v Speaker 3>of assisting Ukraine in its defense against Russia's invasion. That's

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<v Speaker 3>put him at odds with moderate Republicans who signed the

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<v Speaker 3>petition and joined with Democrats in advancing the bill.

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<v Speaker 2>Meanwhile, Nathan Ukrainian President Vladimir Zelenski is proposing direct peace

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<v Speaker 2>talks with Russian leader of Vladimir Putin in an effort

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<v Speaker 2>to end the war. He did so in a rare

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<v Speaker 2>and combative open letter. Ben Sills is Bloomberg's managing editor

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<v Speaker 2>for European Politics and Economy.

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<v Speaker 7>Not a letter which is going to persuade Putin to

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<v Speaker 7>come to the negotiating table. The tone of it is

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<v Speaker 7>so incredibly assertive. I read it last night when it dropped,

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<v Speaker 7>and I was really quite struck by just how self

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<v Speaker 7>confident Zelensky sounds, and how he's talking down to Putin.

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<v Speaker 7>He's talking about how his drones hit St.

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<v Speaker 8>Petersburg yesterday, the day before Putin turns up. He's threatening

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<v Speaker 8>to hit other Russian targets deep inside Russia. He's saying

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<v Speaker 8>that he knows Putin is afraid of Ukraine's military potential,

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<v Speaker 8>So that's no way to bring the negotiating table.

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<v Speaker 2>And Bloomberg's Ben sil says Zelenski is proposing a face

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<v Speaker 2>to face meeting in a neutral country. A Russian spokesman says,

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<v Speaker 2>if Zelenski wants to meet Putin, he can come to Moscow.

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<v Speaker 7>Well.

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<v Speaker 3>Turning back to Washington, now, Karen Federal Housing Finance Agency

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<v Speaker 3>Director Bill Poulti has been named acting Director of National Intelligence,

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<v Speaker 3>but President Trump says that appointment will be temporary. Bloomberg

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<v Speaker 3>Zamy Morris reports from the nation's capital.

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<v Speaker 9>President Trump says FAJFA Bill Poulty will not become the

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<v Speaker 9>permanent Director of National Intelligence.

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<v Speaker 4>He's not going to be permanent because you know, I

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<v Speaker 4>don't think he'd want to be permanent. But he's a

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<v Speaker 4>very smart guy, and he may find OUs some things

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<v Speaker 4>about the rigged elections, et cetera, et cetera. But it's

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<v Speaker 4>somebody just to take it over for a little while.

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<v Speaker 9>President Trump says they're interviewing people for that permanent position

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<v Speaker 9>in Washington. Amy Morris, Bloomberg Radio.

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<v Speaker 2>All right, Amy, thank you. He turned to the markets

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<v Speaker 2>for the S and P five hundred's historic weekly run

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<v Speaker 2>agains is in jeopardy right now. The AI euphoria is

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<v Speaker 2>fading as tech shares lead equity future is lower. Slide

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<v Speaker 2>today would mean the S and P five hundred misses

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<v Speaker 2>out on a tenth week of gains, which would have

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<v Speaker 2>been the longest such streak since nineteen eighty five. In Asia,

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<v Speaker 2>South Korea's cosby the world's best performing engage this year,

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<v Speaker 2>and a bell weather for AI investments dropped five and

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<v Speaker 2>a half percent.

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<v Speaker 3>Well this morning, Karen, Investors are awaiting the jobs report

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<v Speaker 3>for the month of May. It's expected to show an

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<v Speaker 3>increase of eighty nine thousand non farm payrolls and an

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<v Speaker 3>unchanged employment rate of four point three percent. San Francisco

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<v Speaker 3>Fed President Mary Daily says there's too much uncertainty in

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<v Speaker 3>the economy to offer a view on rare rates are headed.

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<v Speaker 3>We spoke to Daily at the Bloomberg Tech Conference in

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<v Speaker 3>San Francisco.

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<v Speaker 10>We are prepared to respond either way whatever the economy brings,

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<v Speaker 10>but I think giving more forward guidance about what's possible

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<v Speaker 10>could be misguiding in the end, because we just have

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<v Speaker 10>to wait for the economy to evolve. Everybody wants to

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<v Speaker 10>resolve the uncertainty today, but I think that's a mistake

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<v Speaker 10>because it will close off our mind about what we

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<v Speaker 10>really have to look at.

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<v Speaker 3>You catch our full interview with Mary Daily and others

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<v Speaker 3>from the Bloomberg Tech Conference in San Francisco on the

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<v Speaker 3>Bloomberg Business app and at Bloomberg dot com.

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<v Speaker 2>Well, Nathan, The roadshow continues as we're just days away

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<v Speaker 2>from the mega IPO of SpaceX, and Bloomberg's John Tucker

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<v Speaker 2>joins us with the latest. John, Good morning, Karen.

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<v Speaker 11>SpaceX set out it's IPO launch with a flashy video,

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<v Speaker 11>short on detail at heavy on Elon Musk's vision for

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<v Speaker 11>the future. Investors ate it up. Ron Barron has head

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<v Speaker 11>of Baron Capital Management.

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<v Speaker 4>Well right now, we own almost twenty billion dollars of SpaceX,

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<v Speaker 4>and we're buying another billion. I think we're going to

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<v Speaker 4>make a lot of money for our clients and ourselves.

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<v Speaker 11>The investors emerging for the marketing event at JP Morgan's

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<v Speaker 11>imposing headquarters on Park Avenue called it an epic event.

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<v Speaker 11>The head of aon Capitol said SpaceX will be the

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<v Speaker 11>most iconic company in human civilization. Mus spoke to his

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<v Speaker 11>host Jamie Diamond about space travel vacations on the Moon

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<v Speaker 11>and a Mars colony back on Earth. Some research analysts

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<v Speaker 11>or are telling would be buyers their models show one

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<v Speaker 11>hundred times revenue growth for SpaceX's AI division by the

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<v Speaker 11>end of the decade. That's to help justify the target

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<v Speaker 11>evaluation of one point eight trillion dollars for investors emerging

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<v Speaker 11>from the event, those numbers sounded entirely justified the share

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<v Speaker 11>sales sent for next week in New York. I'm John

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<v Speaker 11>Tucker Bloomberg Radio.

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<v Speaker 3>Well, John, don't expect SpaceX to join the S and

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<v Speaker 3>P five hundred anytime soon. SMP down Jones Indicy says

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<v Speaker 3>it will not shorten its twelve month seasoning period for

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<v Speaker 3>newly public companies or waving existing profitability and public float

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<v Speaker 3>requirements based on a company's size. The decision means firms

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<v Speaker 3>like SpaceX would not be eligible for inclusion in the

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<v Speaker 3>S and P five hundred until at least one year

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<v Speaker 3>after listing, and would also need to satisfy the index's

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<v Speaker 3>existing requirements for profitability and public float.

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<v Speaker 2>Kan Nvidia has certified the three biggest memory chip makers

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<v Speaker 2>to supply their most advanced high bandwidth products for its

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<v Speaker 2>AI accelerators, their Samsung x k Heinins and Micron in

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<v Speaker 2>Video CEO Jensen Wong spoke earlier in Seoul.

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<v Speaker 12>We are going to use a lot of high speed memory,

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<v Speaker 12>and of course memory is constrained, and so we have

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<v Speaker 12>to be smart about using it in all of our systems,

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<v Speaker 12>and so we'll con in to work with our partners

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<v Speaker 12>here to make sure that we support as much supply

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<v Speaker 12>as possible, but use the supply as smartly as possible.

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<v Speaker 2>In Vidia CEO Jensen Wong, we'll have dinner with some

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<v Speaker 2>of Korea's top business leaders Tony He plans to attend

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<v Speaker 2>a baseball game over the weekend time now for look

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<v Speaker 2>at their stories making news in New York and around

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<v Speaker 2>the world and for that. We're joined by Bloomberg's Michael Barr.

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<v Speaker 13>Michael, good morning, Good morning, Karen. They are still counting

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<v Speaker 13>the votes from Tuesday's primary in the California governor's race,

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<v Speaker 13>with an estimated sixty percent in Republican Steve Hilton still

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<v Speaker 13>leads with twenty seven point two percent. Democrat javieerb Sera

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<v Speaker 13>is second with twenty six percent of the vote. Fellow

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<v Speaker 13>Democrat Tom Steyer is third with twenty point two percent.

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<v Speaker 13>Under California rules, the top two finishers advanced from the primary,

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<v Speaker 13>regardless of party affiliation. President Donald Trump criticized California's ballot counting,

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<v Speaker 13>accusing state Democrats of big cheating. As the vote count continues,

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<v Speaker 13>I hope.

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<v Speaker 4>The media looks at this selection of the saking place

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<v Speaker 4>in California, where they think it'll take seven or eight

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<v Speaker 4>days to count the votes. Can you believe us? I mean,

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<v Speaker 4>they spend all that money on the on the machines,

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<v Speaker 4>the big voting machines.

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<v Speaker 13>President Trump didn't and evidence on his claims. The latest

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<v Speaker 13>strain of the Ebola virus continues to spread in Congo.

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<v Speaker 13>At least sixty two people are dead from three hundred

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<v Speaker 13>and sixty three confirmed cases. However, who officials have worn

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<v Speaker 13>the numbers might not reflect the true scale of the epidemic.

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<v Speaker 13>On top of the knicks in the NBA Finals, Mayor

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<v Speaker 13>Zorin Mamdanie and Governor Kathy Hokel say New York City

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<v Speaker 13>is ready to host Soccer's World Cup. The city is

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<v Speaker 13>taking measures to accommodate the expected surge and visitors, including

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<v Speaker 13>running additional subway trains and restricting traffic in certain areas

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<v Speaker 13>on match days. Governor Hokele, we.

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<v Speaker 6>Can handle this.

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<v Speaker 1>We've got this.

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<v Speaker 6>This is what we do best.

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<v Speaker 10>And for those who are saying, you know, stay home

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<v Speaker 10>from work kind of no, come to the city celebrate.

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<v Speaker 5>Otherwise you're missing the excitement.

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<v Speaker 8>And the energy.

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<v Speaker 6>Mayor Ben Donnie, we are ready for this moment because

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<v Speaker 6>we are in New York. We know, as the Governor said,

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<v Speaker 6>how to put on big events, from the Macy's Thanksgiving

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<v Speaker 6>Day Parade to the NBA Finals. Let's go next to

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<v Speaker 6>the UN General Assembly. We have done it before and

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<v Speaker 6>we will do it again.

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<v Speaker 13>Officials are asking the public to be patient with crowd,

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<v Speaker 13>security lines, and traffic. Meanwhile, Mayor mem Nani says he

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<v Speaker 13>will be at Game three of the Knicks at Madison

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<v Speaker 13>Square Gardener along with President Trump, who says that he

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<v Speaker 13>was planning to attend Monday Night Global News twenty four

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<v Speaker 13>hours a day and whenever you want it with the

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<v Speaker 13>Bloomberg News.

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<v Speaker 2>Now.

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<v Speaker 13>I'm Michael Barr, and this is Bloomberg Karen.

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<v Speaker 11>Well, thanks Michael.

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<v Speaker 2>A time now for our Bloomberg Sports update, and for

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<v Speaker 2>that we bring in John stash Hour.

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<v Speaker 6>Thanks Darren.

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<v Speaker 14>Are back to forth Denley Cup Final Game two in Raleigh, Carolina.

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<v Speaker 14>Roulling to take the lead, Vegas scored lated regulation to

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<v Speaker 14>force overtime. The Hurricane score they won four to three.

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<v Speaker 14>In the series is tied a one. The NIXT bring

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<v Speaker 14>their twelve game playoff winning streak into Game two of

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<v Speaker 14>the NBA Finals tonight in San Antonio, looking to go

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<v Speaker 14>home with the two nothing series lead. Men's Semifinals at

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<v Speaker 14>the French Open, alex Zaverro takes on Jaco Mensik and

0:10:57.160 --> 0:11:00.120
<v Speaker 14>then a battle of Italians with Tria, Matteo Arnaldi and

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<v Speaker 14>Flabio Kobali. That to Bloomberg's worth fifty.

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<v Speaker 9>Stay with us.

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<v Speaker 2>More from Bloomberg Daybreak coming up after.

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<v Speaker 1>This Coast to Coast on Bloomberg radio nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 13>Good morning.

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<v Speaker 3>I'm Nathan Hager. The US and Iran may be in

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<v Speaker 3>a holding pattern now close to two months into their

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<v Speaker 3>ceasefire that has seen some of its heaviest tests this week.

0:11:31.440 --> 0:11:34.520
<v Speaker 3>But President Trump is urging patients, We're.

0:11:34.360 --> 0:11:37.559
<v Speaker 4>Going to win on paper or we're going to win military.

0:11:38.120 --> 0:11:40.160
<v Speaker 4>One way or the other. It's going to be militarily

0:11:40.320 --> 0:11:40.880
<v Speaker 4>or on paper.

0:11:41.040 --> 0:11:43.280
<v Speaker 3>Well, that was President Trump speaking to reporters in the

0:11:43.360 --> 0:11:46.200
<v Speaker 3>Oval Office. Joining us this morning from Dubai is Bloomberg

0:11:46.240 --> 0:11:50.480
<v Speaker 3>Middle East correspondent to Birabu omar Abir. Where do things

0:11:50.640 --> 0:11:51.720
<v Speaker 3>stand this morning?

0:11:51.840 --> 0:11:55.079
<v Speaker 5>Good morning, Good morning, Nathan. So look, the latest from

0:11:55.200 --> 0:11:57.679
<v Speaker 5>overnight is has Bulah, that is the militia that is

0:11:57.760 --> 0:12:02.000
<v Speaker 5>backed by Iran in southern Lebanon as rejected the deal

0:12:02.160 --> 0:12:05.920
<v Speaker 5>that was reached between Libanese officials and Israeli counterparts in

0:12:06.120 --> 0:12:09.400
<v Speaker 5>Washington earlier this week. Now from the get go, Hasbella

0:12:09.520 --> 0:12:13.520
<v Speaker 5>refused to take an active part in those negotiations. It's

0:12:13.679 --> 0:12:17.320
<v Speaker 5>chief this morning nine class ims, saying that the deal

0:12:17.559 --> 0:12:20.520
<v Speaker 5>was absurd, and he does not acknowledge it as long

0:12:20.679 --> 0:12:25.520
<v Speaker 5>as Israel continues its attacks against southern Lebanon. Now, we've

0:12:25.600 --> 0:12:29.480
<v Speaker 5>reported earlier this week now that Israel has its deepest

0:12:29.559 --> 0:12:33.800
<v Speaker 5>incursion in Lebanon since twenty that's twenty five years almost

0:12:33.880 --> 0:12:37.640
<v Speaker 5>Nathan and so Hesbela refuses to acknowledge the deal that

0:12:37.720 --> 0:12:42.520
<v Speaker 5>happened between the Libanese government and Israeli counterparts. On the

0:12:42.600 --> 0:12:47.079
<v Speaker 5>other hand, you've got President Trump saying that the talks

0:12:47.240 --> 0:12:50.400
<v Speaker 5>to reach an MoU that has been what we've been

0:12:50.520 --> 0:12:53.120
<v Speaker 5>calling it, which is the interim deal to sort of

0:12:53.360 --> 0:12:56.559
<v Speaker 5>reopen the strait of her moves and then extend the

0:12:56.600 --> 0:12:59.880
<v Speaker 5>ceasefire we're talking about for about sixty days to then

0:13:00.200 --> 0:13:03.480
<v Speaker 5>talk about other concessions. He says that this MOLU is

0:13:03.520 --> 0:13:07.800
<v Speaker 5>in final stages, that he's talking to Hezbalah representatives who

0:13:07.880 --> 0:13:10.920
<v Speaker 5>actually have accepted the deal. But then you get the

0:13:11.000 --> 0:13:14.839
<v Speaker 5>Iranian side, and Foreign Minister Abbasara actually said, actually talks

0:13:14.880 --> 0:13:18.440
<v Speaker 5>have stalled and there's no tangible progress in them. Now,

0:13:18.520 --> 0:13:23.040
<v Speaker 5>Iran has made Lebanon an important sticking point to its concessions.

0:13:23.120 --> 0:13:26.599
<v Speaker 5>That's on top of its enriched uranium, on top of

0:13:26.640 --> 0:13:30.680
<v Speaker 5>the frozen assets twelve billion dollars of those, and oil sanctions.

0:13:30.720 --> 0:13:33.240
<v Speaker 5>So those are the sticking points that we know about

0:13:33.320 --> 0:13:36.600
<v Speaker 5>Lebanon emerging over the past couple of weeks. As one

0:13:36.840 --> 0:13:41.959
<v Speaker 5>important one, Iran saying that if hostilities in Lebanon continue

0:13:42.120 --> 0:13:45.000
<v Speaker 5>by Israel, the deal is not going to go through

0:13:45.040 --> 0:13:48.040
<v Speaker 5>and negotiations are not going to go through. Meanwhile, we're

0:13:48.080 --> 0:13:51.760
<v Speaker 5>seeing firing across the region. Earlier this week we saw

0:13:51.800 --> 0:13:55.520
<v Speaker 5>attacks against Kuwait, where Kuwait reported one person was killed

0:13:55.960 --> 0:13:59.920
<v Speaker 5>in its airport, several others injured. It actually halted flights

0:14:00.040 --> 0:14:03.959
<v Speaker 5>as well because of some significant damage to the infrastructure there.

0:14:04.280 --> 0:14:07.239
<v Speaker 5>So we're seeing a pickup in hostilities since the ceasefire

0:14:07.480 --> 0:14:12.200
<v Speaker 5>was reached in early April. The talks not going anywhere

0:14:12.320 --> 0:14:16.360
<v Speaker 5>for now, unlike what President Trump has been suggesting. And meanwhile,

0:14:16.440 --> 0:14:19.760
<v Speaker 5>the strait of her moves remains effectively shut. Oil price

0:14:19.840 --> 0:14:22.200
<v Speaker 5>is not really knowing what to do with all this

0:14:22.360 --> 0:14:25.360
<v Speaker 5>back and forth, so you're not seeing Brent ticking up

0:14:25.520 --> 0:14:28.120
<v Speaker 5>in a tremendous way as it would have at the

0:14:28.200 --> 0:14:29.320
<v Speaker 5>start of this war.

0:14:29.480 --> 0:14:32.080
<v Speaker 3>Nathan just thirty seconds left here of beer. But what

0:14:32.280 --> 0:14:36.600
<v Speaker 3>potentially breaks the logjam is the status of Lebanon the

0:14:36.720 --> 0:14:37.880
<v Speaker 3>central focal point now.

0:14:38.680 --> 0:14:42.640
<v Speaker 5>Short answer, yes, Lebanon. Lebanese officials and Iranian officials have

0:14:42.760 --> 0:14:46.280
<v Speaker 5>asked for hostilities in Lebanon to seize, and that would

0:14:46.320 --> 0:14:48.840
<v Speaker 5>bring them back to the table. That's on top of

0:14:48.880 --> 0:14:51.920
<v Speaker 5>the other concessions that we've spoken about. But we understand

0:14:52.360 --> 0:14:54.960
<v Speaker 5>that a deal on those other concessions could be reached

0:14:55.120 --> 0:14:57.840
<v Speaker 5>or some understanding on them could be reached after the

0:14:58.040 --> 0:15:02.800
<v Speaker 5>MoU Is signed. Essentially, Iran says no Mlu signing unless

0:15:03.400 --> 0:15:05.000
<v Speaker 5>the attacks against Lebanon stock.

0:15:06.400 --> 0:15:09.840
<v Speaker 2>This is Bloomberg Daybreak, your morning podcast on the stories

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<v Speaker 3>And I'm Nathan Hager. Join us again tomorrow morning for

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<v Speaker 2>Ray