Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Karen, we begin with the latest from the Middle East.
Speaker 3: The US and Iran are showing little signs of progress
Speaker 3: in ceasefire talks after one of the worst bursts of
Speaker 3: violence in the region in weeks. President Trump says negotiations
Speaker 3: are in the final stages, but Iran's foreign minister says
Speaker 3: there's been no tangible progress. The President says time is
Speaker 3: on his side when you look.
Speaker 4: At hundreds of thousands of soldiers were killed in these
Speaker 4: various wars. They lasted many, many years. We're in there
Speaker 4: for a few months, and what we've done is amazing.
Speaker 3: President Trump spoke from the Oval Office. Meanwhile, Iran backed
Speaker 3: Hezbola has rejected a US broker ceasefire in Lebanon. Bloomberg'sabir
Speaker 3: abu Omar reports that's adding further complication to the peace process.
Speaker 5: The hostilities between Israel and Hezbollah continue within the southern
Speaker 5: part to Lebanon, but also the northern parts in Israel.
Speaker 5: President Trump, on the other hand, has said that he
Speaker 5: did not see the rejection from Hezbollah, and as a
Speaker 5: matter of fact, he's been in touch with representatives who
Speaker 5: told the president that they wanted to have the cease fire.
Speaker 3: Blomberg Sabira ba Omar reports Israeli strikes in Lebanon have
Speaker 3: killed at least eight people, according to the Lebanese Health Ministry.
Speaker 3: Israel says Hesbilla fired several rockets at its soldiers, but
Speaker 3: no one was hurt.
Speaker 2: We have breaking news on Capitol Hill this morning. Nathan
Speaker 2: the Senator has passed a sixty nine and a half
Speaker 2: billion dollar bill that gives more than three years of
Speaker 2: funding to two immigration enforcement agencies. The measure passed fifty
Speaker 2: two to forty seven after a marathon vote that saw
Speaker 2: Democrats try to corner Republicans on politically tricky amendment votes.
Speaker 2: The bill passed the Senate after weeks and negotiations over
Speaker 2: funding for the Secret Service to secure President Trump's ballroom.
Speaker 2: That money was ultimately dropped from the package, but drew
Speaker 2: rebuke from seven Republican senators. Republicans also stripped out funds
Speaker 2: for the Justice to Artment that got bogged down by
Speaker 2: concerns about a now defunct fund to compensate victims of
Speaker 2: alleged politically motivated prosecution.
Speaker 3: Als Roun Capitol hillcreen. The House has approved a new
Speaker 3: round of aid to Ukraine and sanctions on Russia, in
Speaker 3: a backhanded rebuke of President Trump's foreign policy.
Speaker 6: The eyes are two hundred and twenty six, the nays
Speaker 6: are one hundred and ninety five. The bill is passed
Speaker 6: without objection.
Speaker 4: The motion reconsider is laid upon the table.
Speaker 3: House Democrats forced to vote on the package through what's
Speaker 3: known as a discharge petition. That's a procedural tool that
Speaker 3: Republican leaders oppose. President Trump's raised questions about the cost
Speaker 3: of assisting Ukraine in its defense against Russia's invasion. That's
Speaker 3: put him at odds with moderate Republicans who signed the
Speaker 3: petition and joined with Democrats in advancing the bill.
Speaker 2: Meanwhile, Nathan Ukrainian President Vladimir Zelenski is proposing direct peace
Speaker 2: talks with Russian leader of Vladimir Putin in an effort
Speaker 2: to end the war. He did so in a rare
Speaker 2: and combative open letter. Ben Sills is Bloomberg's managing editor
Speaker 2: for European Politics and Economy.
Speaker 7: Not a letter which is going to persuade Putin to
Speaker 7: come to the negotiating table. The tone of it is
Speaker 7: so incredibly assertive. I read it last night when it dropped,
Speaker 7: and I was really quite struck by just how self
Speaker 7: confident Zelensky sounds, and how he's talking down to Putin.
Speaker 7: He's talking about how his drones hit St.
Speaker 8: Petersburg yesterday, the day before Putin turns up. He's threatening
Speaker 8: to hit other Russian targets deep inside Russia. He's saying
Speaker 8: that he knows Putin is afraid of Ukraine's military potential,
Speaker 8: So that's no way to bring the negotiating table.
Speaker 2: And Bloomberg's Ben sil says Zelenski is proposing a face
Speaker 2: to face meeting in a neutral country. A Russian spokesman says,
Speaker 2: if Zelenski wants to meet Putin, he can come to Moscow.
Speaker 7: Well.
Speaker 3: Turning back to Washington, now, Karen Federal Housing Finance Agency
Speaker 3: Director Bill Poulti has been named acting Director of National Intelligence,
Speaker 3: but President Trump says that appointment will be temporary. Bloomberg
Speaker 3: Zamy Morris reports from the nation's capital.
Speaker 9: President Trump says FAJFA Bill Poulty will not become the
Speaker 9: permanent Director of National Intelligence.
Speaker 4: He's not going to be permanent because you know, I
Speaker 4: don't think he'd want to be permanent. But he's a
Speaker 4: very smart guy, and he may find OUs some things
Speaker 4: about the rigged elections, et cetera, et cetera. But it's
Speaker 4: somebody just to take it over for a little while.
Speaker 9: President Trump says they're interviewing people for that permanent position
Speaker 9: in Washington. Amy Morris, Bloomberg Radio.
Speaker 2: All right, Amy, thank you. He turned to the markets
Speaker 2: for the S and P five hundred's historic weekly run
Speaker 2: agains is in jeopardy right now. The AI euphoria is
Speaker 2: fading as tech shares lead equity future is lower. Slide
Speaker 2: today would mean the S and P five hundred misses
Speaker 2: out on a tenth week of gains, which would have
Speaker 2: been the longest such streak since nineteen eighty five. In Asia,
Speaker 2: South Korea's cosby the world's best performing engage this year,
Speaker 2: and a bell weather for AI investments dropped five and
Speaker 2: a half percent.
Speaker 3: Well this morning, Karen, Investors are awaiting the jobs report
Speaker 3: for the month of May. It's expected to show an
Speaker 3: increase of eighty nine thousand non farm payrolls and an
Speaker 3: unchanged employment rate of four point three percent. San Francisco
Speaker 3: Fed President Mary Daily says there's too much uncertainty in
Speaker 3: the economy to offer a view on rare rates are headed.
Speaker 3: We spoke to Daily at the Bloomberg Tech Conference in
Speaker 3: San Francisco.
Speaker 10: We are prepared to respond either way whatever the economy brings,
Speaker 10: but I think giving more forward guidance about what's possible
Speaker 10: could be misguiding in the end, because we just have
Speaker 10: to wait for the economy to evolve. Everybody wants to
Speaker 10: resolve the uncertainty today, but I think that's a mistake
Speaker 10: because it will close off our mind about what we
Speaker 10: really have to look at.
Speaker 3: You catch our full interview with Mary Daily and others
Speaker 3: from the Bloomberg Tech Conference in San Francisco on the
Speaker 3: Bloomberg Business app and at Bloomberg dot com.
Speaker 2: Well, Nathan, The roadshow continues as we're just days away
Speaker 2: from the mega IPO of SpaceX, and Bloomberg's John Tucker
Speaker 2: joins us with the latest. John, Good morning, Karen.
Speaker 11: SpaceX set out it's IPO launch with a flashy video,
Speaker 11: short on detail at heavy on Elon Musk's vision for
Speaker 11: the future. Investors ate it up. Ron Barron has head
Speaker 11: of Baron Capital Management.
Speaker 4: Well right now, we own almost twenty billion dollars of SpaceX,
Speaker 4: and we're buying another billion. I think we're going to
Speaker 4: make a lot of money for our clients and ourselves.
Speaker 11: The investors emerging for the marketing event at JP Morgan's
Speaker 11: imposing headquarters on Park Avenue called it an epic event.
Speaker 11: The head of aon Capitol said SpaceX will be the
Speaker 11: most iconic company in human civilization. Mus spoke to his
Speaker 11: host Jamie Diamond about space travel vacations on the Moon
Speaker 11: and a Mars colony back on Earth. Some research analysts
Speaker 11: or are telling would be buyers their models show one
Speaker 11: hundred times revenue growth for SpaceX's AI division by the
Speaker 11: end of the decade. That's to help justify the target
Speaker 11: evaluation of one point eight trillion dollars for investors emerging
Speaker 11: from the event, those numbers sounded entirely justified the share
Speaker 11: sales sent for next week in New York. I'm John
Speaker 11: Tucker Bloomberg Radio.
Speaker 3: Well, John, don't expect SpaceX to join the S and
Speaker 3: P five hundred anytime soon. SMP down Jones Indicy says
Speaker 3: it will not shorten its twelve month seasoning period for
Speaker 3: newly public companies or waving existing profitability and public float
Speaker 3: requirements based on a company's size. The decision means firms
Speaker 3: like SpaceX would not be eligible for inclusion in the
Speaker 3: S and P five hundred until at least one year
Speaker 3: after listing, and would also need to satisfy the index's
Speaker 3: existing requirements for profitability and public float.
Speaker 2: Kan Nvidia has certified the three biggest memory chip makers
Speaker 2: to supply their most advanced high bandwidth products for its
Speaker 2: AI accelerators, their Samsung x k Heinins and Micron in
Speaker 2: Video CEO Jensen Wong spoke earlier in Seoul.
Speaker 12: We are going to use a lot of high speed memory,
Speaker 12: and of course memory is constrained, and so we have
Speaker 12: to be smart about using it in all of our systems,
Speaker 12: and so we'll con in to work with our partners
Speaker 12: here to make sure that we support as much supply
Speaker 12: as possible, but use the supply as smartly as possible.
Speaker 2: In Vidia CEO Jensen Wong, we'll have dinner with some
Speaker 2: of Korea's top business leaders Tony He plans to attend
Speaker 2: a baseball game over the weekend time now for look
Speaker 2: at their stories making news in New York and around
Speaker 2: the world and for that. We're joined by Bloomberg's Michael Barr.
Speaker 13: Michael, good morning, Good morning, Karen. They are still counting
Speaker 13: the votes from Tuesday's primary in the California governor's race,
Speaker 13: with an estimated sixty percent in Republican Steve Hilton still
Speaker 13: leads with twenty seven point two percent. Democrat javieerb Sera
Speaker 13: is second with twenty six percent of the vote. Fellow
Speaker 13: Democrat Tom Steyer is third with twenty point two percent.
Speaker 13: Under California rules, the top two finishers advanced from the primary,
Speaker 13: regardless of party affiliation. President Donald Trump criticized California's ballot counting,
Speaker 13: accusing state Democrats of big cheating. As the vote count continues,
Speaker 13: I hope.
Speaker 4: The media looks at this selection of the saking place
Speaker 4: in California, where they think it'll take seven or eight
Speaker 4: days to count the votes. Can you believe us? I mean,
Speaker 4: they spend all that money on the on the machines,
Speaker 4: the big voting machines.
Speaker 13: President Trump didn't and evidence on his claims. The latest
Speaker 13: strain of the Ebola virus continues to spread in Congo.
Speaker 13: At least sixty two people are dead from three hundred
Speaker 13: and sixty three confirmed cases. However, who officials have worn
Speaker 13: the numbers might not reflect the true scale of the epidemic.
Speaker 13: On top of the knicks in the NBA Finals, Mayor
Speaker 13: Zorin Mamdanie and Governor Kathy Hokel say New York City
Speaker 13: is ready to host Soccer's World Cup. The city is
Speaker 13: taking measures to accommodate the expected surge and visitors, including
Speaker 13: running additional subway trains and restricting traffic in certain areas
Speaker 13: on match days. Governor Hokele, we.
Speaker 6: Can handle this.
Speaker 1: We've got this.
Speaker 6: This is what we do best.
Speaker 10: And for those who are saying, you know, stay home
Speaker 10: from work kind of no, come to the city celebrate.
Speaker 5: Otherwise you're missing the excitement.
Speaker 8: And the energy.
Speaker 6: Mayor Ben Donnie, we are ready for this moment because
Speaker 6: we are in New York. We know, as the Governor said,
Speaker 6: how to put on big events, from the Macy's Thanksgiving
Speaker 6: Day Parade to the NBA Finals. Let's go next to
Speaker 6: the UN General Assembly. We have done it before and
Speaker 6: we will do it again.
Speaker 13: Officials are asking the public to be patient with crowd,
Speaker 13: security lines, and traffic. Meanwhile, Mayor mem Nani says he
Speaker 13: will be at Game three of the Knicks at Madison
Speaker 13: Square Gardener along with President Trump, who says that he
Speaker 13: was planning to attend Monday Night Global News twenty four
Speaker 13: hours a day and whenever you want it with the
Speaker 13: Bloomberg News.
Speaker 2: Now.
Speaker 13: I'm Michael Barr, and this is Bloomberg Karen.
Speaker 11: Well, thanks Michael.
Speaker 2: A time now for our Bloomberg Sports update, and for
Speaker 2: that we bring in John stash Hour.
Speaker 6: Thanks Darren.
Speaker 14: Are back to forth Denley Cup Final Game two in Raleigh, Carolina.
Speaker 14: Roulling to take the lead, Vegas scored lated regulation to
Speaker 14: force overtime. The Hurricane score they won four to three.
Speaker 14: In the series is tied a one. The NIXT bring
Speaker 14: their twelve game playoff winning streak into Game two of
Speaker 14: the NBA Finals tonight in San Antonio, looking to go
Speaker 14: home with the two nothing series lead. Men's Semifinals at
Speaker 14: the French Open, alex Zaverro takes on Jaco Mensik and
Speaker 14: then a battle of Italians with Tria, Matteo Arnaldi and
Speaker 14: Flabio Kobali. That to Bloomberg's worth fifty.
Speaker 9: Stay with us.
Speaker 2: More from Bloomberg Daybreak coming up after.
Speaker 1: This Coast to Coast on Bloomberg radio nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 13: Good morning.
Speaker 3: I'm Nathan Hager. The US and Iran may be in
Speaker 3: a holding pattern now close to two months into their
Speaker 3: ceasefire that has seen some of its heaviest tests this week.
Speaker 3: But President Trump is urging patients, We're.
Speaker 4: Going to win on paper or we're going to win military.
Speaker 4: One way or the other. It's going to be militarily
Speaker 4: or on paper.
Speaker 3: Well, that was President Trump speaking to reporters in the
Speaker 3: Oval Office. Joining us this morning from Dubai is Bloomberg
Speaker 3: Middle East correspondent to Birabu omar Abir. Where do things
Speaker 3: stand this morning?
Speaker 5: Good morning, Good morning, Nathan. So look, the latest from
Speaker 5: overnight is has Bulah, that is the militia that is
Speaker 5: backed by Iran in southern Lebanon as rejected the deal
Speaker 5: that was reached between Libanese officials and Israeli counterparts in
Speaker 5: Washington earlier this week. Now from the get go, Hasbella
Speaker 5: refused to take an active part in those negotiations. It's
Speaker 5: chief this morning nine class ims, saying that the deal
Speaker 5: was absurd, and he does not acknowledge it as long
Speaker 5: as Israel continues its attacks against southern Lebanon. Now, we've
Speaker 5: reported earlier this week now that Israel has its deepest
Speaker 5: incursion in Lebanon since twenty that's twenty five years almost
Speaker 5: Nathan and so Hesbela refuses to acknowledge the deal that
Speaker 5: happened between the Libanese government and Israeli counterparts. On the
Speaker 5: other hand, you've got President Trump saying that the talks
Speaker 5: to reach an MoU that has been what we've been
Speaker 5: calling it, which is the interim deal to sort of
Speaker 5: reopen the strait of her moves and then extend the
Speaker 5: ceasefire we're talking about for about sixty days to then
Speaker 5: talk about other concessions. He says that this MOLU is
Speaker 5: in final stages, that he's talking to Hezbalah representatives who
Speaker 5: actually have accepted the deal. But then you get the
Speaker 5: Iranian side, and Foreign Minister Abbasara actually said, actually talks
Speaker 5: have stalled and there's no tangible progress in them. Now,
Speaker 5: Iran has made Lebanon an important sticking point to its concessions.
Speaker 5: That's on top of its enriched uranium, on top of
Speaker 5: the frozen assets twelve billion dollars of those, and oil sanctions.
Speaker 5: So those are the sticking points that we know about
Speaker 5: Lebanon emerging over the past couple of weeks. As one
Speaker 5: important one, Iran saying that if hostilities in Lebanon continue
Speaker 5: by Israel, the deal is not going to go through
Speaker 5: and negotiations are not going to go through. Meanwhile, we're
Speaker 5: seeing firing across the region. Earlier this week we saw
Speaker 5: attacks against Kuwait, where Kuwait reported one person was killed
Speaker 5: in its airport, several others injured. It actually halted flights
Speaker 5: as well because of some significant damage to the infrastructure there.
Speaker 5: So we're seeing a pickup in hostilities since the ceasefire
Speaker 5: was reached in early April. The talks not going anywhere
Speaker 5: for now, unlike what President Trump has been suggesting. And meanwhile,
Speaker 5: the strait of her moves remains effectively shut. Oil price
Speaker 5: is not really knowing what to do with all this
Speaker 5: back and forth, so you're not seeing Brent ticking up
Speaker 5: in a tremendous way as it would have at the
Speaker 5: start of this war.
Speaker 3: Nathan just thirty seconds left here of beer. But what
Speaker 3: potentially breaks the logjam is the status of Lebanon the
Speaker 3: central focal point now.
Speaker 5: Short answer, yes, Lebanon. Lebanese officials and Iranian officials have
Speaker 5: asked for hostilities in Lebanon to seize, and that would
Speaker 5: bring them back to the table. That's on top of
Speaker 5: the other concessions that we've spoken about. But we understand
Speaker 5: that a deal on those other concessions could be reached
Speaker 5: or some understanding on them could be reached after the
Speaker 5: MoU Is signed. Essentially, Iran says no Mlu signing unless
Speaker 5: the attacks against Lebanon stock.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
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Speaker 2: Ray