Knicks Historic Comeback; Trump Promises Iran Attacks if No Deal

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Alexis Christophers.
Here are the stories we're following today.
Alexis, We're gonna have more on the markets. We'll bring
you the latest time I ron in a moment, but
we want to begin this morning with a historic night
in sports. The New York Knicks are now one win
away from their first NBA championship in more than a
half century after an improbable comeback win at Madison Square Garden.
Bloomberg's John Stash hours here with more on the big win.
John, what a night.
Yeah, Nathan, I'm not sure what was more astonishing, the
comeback or the game winning basket. The comeback was historic.
Second half, the Knicks trailed the Spurs by twenty nine points,
they chipped away, got it down to fifteen going to
the fourth quarter, and Jalen Brunson put them ahead for
the first time with a minute twenty two to go,
but then they fell back by one. Had the ball
with less than six seconds to go.
Brumson gets it, fires.
Up a threat shop no good.
But it's gone.
It's gone.
It's gone good.
One point too remaining.
Next take the lead.
Oh tell the movie.
That's one O seven Little Sex.
That was the final. Ladies had the call. So now
the series is three to one. Next heading the San
Antonio for Game five Saturday. One more on an incredible
night at the Garden coming up in Sports down Stash
with a Bloomberg Radio.
A miracle at MSG, thanks a lot, John, and of
course a star studded crowd witnessed that big Nix win,
but there was not the usual garden watch party outside
the arena, Bloomberg. John Tucker joins us now with more.
Good morning John, Good morning Alexis Will. Inside the garden,
Nick's fever erupted. Among the A list celebrities, Timothy Challo
May sounded like he was about to bounce off the rafters.
Come on the next, Baby Nixon five, Baby jyleb bon
my God, Baby.
H Taylor Swift was there. She likes the garden so
much she may get married there. She was seated courtside
next to Ben Stiller. He's filming a next documentary. As
for the others, YadA, YadA, YadA, Jerry Seinfeld, Larry David,
Chris Rock, Tracy Morgan, Jimmy Fallon. You get the picture
now for the Hoypoloy. Just a few hours before the game,
the watch party outside the garden was canceled. Nick's owner
James Dolan pointed the finger at Mayor Mamdani and Police
Commissioner Tish, but Mayor blamed Dolan, saying the move broke
the hearts across the city in New York. I'm John
Tucker Bloomberg Radio.
Maybe a win heals all wounds. Thank it's John Well.
The Nicks aren't the only thing that's red hot right now.
So's the weather in the northeast. Bloomberg meteorologist Craig Allen
has more on this heat wave.
Craig, it's going to push temperatures up to about fifteen
to twenty degrees above average for at least three days.
That's a heat wave and heat advisories are being issued
for many areas, including the I ninety five car at
or places like Washington, Baltimore, Philly, Newark. New York City
could see the mercury upwards of ninety to ninety five,
and the humidity has rapidly increased as well, so the
heat index will likely be in the triple digits. The
heat advisory pushes up through the Connecticut River Valley. Even
Boston should hit ninety today.
And Bloomberg meteorologist Craig Allen says this heat is going
to last through the weekend.
All right, now, let's get to the latest from the
Middle East. The US has carried out a second straight
day of strikes on Iran. That's after President Trump accused
the country of dragging out peace talks.
We're really close to a deal, but they keep tapping
us along, They keep playing us for suckers, because you
know what they dealt with some very stupid president.
The President spoke with reporters in the Oval Office. Later
he told Fox News the US will hit Iran again
today if it doesn't sign a deal. We get the
latest from Bloomberg Middle East correspondent Abira Buamar in Dubai.
To break this salemate, we assume the US hit targets
in Iran today. That ended overnight. Iran retaliated again by
hitting the US fifth Fleet and Bhain Kuwait closed its
airspace momentarily as a precautionary measure. And then Jordan reported
twenty missiles or so in its airspace. So we're seeing
the stick for a tat happening quite quite a bit
more than it has been over the past two months,
or since the April eighth ceasefire was achieved.
Meanwhile, Bloomberg's Ibira Buamar reports Iran as claiming the Strait
of Hormus is completely closed, but US Central commanders rebutting that,
saying commercial ships continue to transit in and out. Some
producers have managed to move oil through the strait through
so called dark transits with their lights and transponders turned off.
Alexis. President Trump's also hanging in on the economy after
the latest consumer price index showed prices rose by four
point two percent in May compared to last year, the
most in more than three years.
I love the pleasure that you know why, because as
soon as this war is over, you know, I can
say it now something you didn't do. You know, we've
been taking out millions of barrels of oil. Nobody knows that,
you know, who doesn't know about it? I ran until
right now.
And Trump's latest comments or a departure from his earlier
argument that the affordability issue as a hoax started by Democrats,
and now Democrats are seizing on his remarks. House Minardi
leader hackem Jeffrey's posted on x quote we finally found
something that Donald Trump loves as much as he loves
himself and.
Nathan staying in the nation's capital. Microsoft co founder Bill
Gates testified on Capitol Hill in a closed door hearing
about his ties to Jeffrey Epstein. Bloomberg's Amy Morris reports
from Washington. Gates told the House panel that he made
an error in judgment by ever meeting with Jeffrey Epstein.
The Microsoft co founder said he was drawn in by
Epstein's claims that he could help raise billions for global
health initiatives. Most Democratic members on the panel described Gates
as cooperative, some described his behavior as a little combative.
Republican Representative Tim Burchett of Tennessee says some of those
questions were intense.
Pretty clear to me, though, that Epstein was a friend collector.
You know, he just liked to have people around him
that were a big deal and get his picture made
with him and hang out with him. And I think
that's how he reeled to me.
House Overside chair James Comer says he's planning to ask
Attorney Alan Dershowitz to appear and that he wants acting
Attorney General Todd blanche to come in next month in Washington.
Amy Moore as Bloomberg Radio, all right, Amy, thanks, it's
history in the making. We are just hours away from
pricing for what will be the biggest IPO of all time.
Let's get more now from Bloomberg Technology host Sed Ludlow.
SpaceX will raise seventy five billion dollars at evaluation of
greater than one point seventy five trillion in a story
that's been about pitching investors on the prospects of satellites
around the Earth as data centers, orbital data center. That's
the pitch the bankers have been making. That's the story
that the market's buying into. It is oversubscribed, the institutional
book is closed, retail investors are clamoring to get a
hold of it, and we get pricing late Thursday, trading
on Friday in what will be the biggest IPO in
history for SpaceX. Ed Ludlow Bloomberg Radio, All.
Right, thanks, Ed, And this morning involving two other companies
set for huge IPOs, the Wall Street Journals reporting open
Ai is considering drastically lowering the prices it charges users.
It's in an effort to win customers from Anthropic. The
paper says drastic price cuts could potentially erode the profit
margins of both companies, which already lose billions because of
the cost for computing resources needed for AI systems.
Well, this morning, Alexis futures are higher following yesterday's selloff
on Wall Street. The Dow fell more than nine hundred
and fifty points, or one point nine percent, but even
harder hit was the Nasdaq, it fell two percent. This morning,
futures are pointing to a recovery. Dow futures are up
two thirds percent right now, Nasdaq futures up one point
two percent, and SMP futures are on the rise by
three quarters of one percent.
Well, Nathan Shares of Oracle not participating in this morning's turnaround.
The stock is down about seven percent. The company reported
quarterly capital expenditures that were higher than estimates. Sarah Kunsta's
founder and managing director at Cleo Capital.
This is a company that people got excited about for
a while with AI, but the bloom has sort of
been off the rose, and I'm not shocked to see
people wanting to see real numbers and then when they're
not thrilled with the results.
They're selling a bit cleo capital. Sarah Kunst Oracle expects
to spend about seventy billion dollars on net capital expenditures
in the current fiscal year five ZHO nine on Wall
Street Time for a look at some of the other
stories making news in New York and around the world.
For that, we're joined by Bloomberg's Michael Barr Good Morning, Michael.
Good morning, and Lexis Knicks. Fans are still giddy from
last night's its historic comeback, but there's other news to
talk about. Congress has until tomorrow to approve an extension
of the Foreign Intelligence Surveillance Act. It allows US surveillance
of foreigners. Some lawmakers are concerned about passing it. While
Bill Poulti, who has no intelligence background, will be the
acting Director of National Intelligence, President Trump says he is
considering permanent candidates. HOWSE Speaker Mike Johnson called on lawmakers
to support a term extension of FAIZA.
He is in the process of interviewing the persons who
would potentially be the next d and I.
They're going to be highly qualified.
All these prodigium these are the House will try to
vote today British Prime Minister kir Starmer is reacting to
protests that erupted in Belfast, Northern Ireland after a stabbing
which ignited anti immigrant demonstrations. A Supanese man was accused
in a stabbing attack. Starmer addressed Parliament Wednesday.
The acts of violence and arson that followed are totally unjustified.
PM Starmer urged for people to remain calm. An appeal
is in the works for the Collin County, Texas team
found guilty of murdering a rival track athlete from a
neighboring school. Nineteen year old Carmelo Anthony, who was seventeen
at the time, stabbed Austin metcalf as the two got
into an altercation during a track meet. Anthony claimed he
stabbed the eleventh grader in self defense. Anthony was sentenced
to thirty five years in prison. Global News four hours
a day and whenever you want it with Bloomberg News
Now Michael Barr and this is Bloomberg Alexis.
Thanks Michael time now for our Bloomberg Sports update, brought
to you by Flushing Bank, a division of Ocean First Bank.
For that, we bring in John stash Hour and John
a historic night at the Garden.
It was in data Alexis and Nicks went into Game
four of the NBA Finals hoping for a better start
in each of the first three games and Antonio went
grab it double digitally in the first quarter, and this
time it was way worse. A nightmares first quarter for
the next they trailed but one point.
By twenty one.
They shot just twenty nine percent, made only five baskets.
Spurs shot sixty five percent. They built the lead up
to twenty seven and a half time. They made fourteen first
half three pointers. The Knicks in the East Finals with
Cleveland Game one, came back from twenty two downs. So
they had done this before and they mounted the historic
comeback that ended with the Epico geonob tippin. There was
still some time remaining for the Spurs.
We tied out.
Slut. They have to get it in Harper, lots of
it shut.
How's it lost it?
That's it.
It's over.
Her greatest comeback in the NBA playoff history.
For the next pull off, but a miracle Cumebuck and
lead at three.
Games to one on ABC, brunchon and Onatoby led the
way to the one oh seven one oh six. Nicks
winner is bruns And scored thirty six points. Og had
thirty three. He was the hero at the end. He
spoke on ABC.
We're resoling. You know, we never give up.
You know, it's the game of runs.
They were to one early.
We knew we were gonna go on all runs, so
we just stay with it.
Top Puss twenty nine points. Though, when you're down twenty nine,
what were you guys saying to each other?
Just stay with it?
You know, it said game of runs.
We believe I futs pum Backlamore.
We're battle Tesla Well Rentley with tube the Resilien Rooks.
So they just stay with it.
The series does three to one. The Nicks have three
chances to win one game, and that'll start with Game
five and San Antonio on Saturday. Stanley Cup Final gets
Eddies tonight, Vegas at Carolina. Game five s here we
sided too. The World Cup begins today with two games
in Mexico and Cleveland. The Yankees finished to sweep at
the Guardians eight to four. Jazz Jigsam and Trent Grisham
both at triples. Jazz drove in three rons, Grisham scored three.
Another lopsided loss for the Mets. Saint Louis won nine
to two at City Feel Johns Dashewer Bloomberg Sports Alexis.
Stay with us.
More from Bloomberg day Break coming up after.
This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. The US and Iran have
continued to trade attacks for a second day after the
downing of an Apache helicopter this week. Defense Secretary Pete
Hegseth says now Iran needs to move forward on diplomacy.
Duran has a chance to make a good deal, a
great deal, to codify what they said they've been willing
to do, and they haven't been.
Willing to do it.
Defense Secretary Pete Hegseth spoke at Centcom headquarters in Tampa, Florida.
Joining us this morning is Mark Champion, who covers the
Middle East for Bloomberg Opinion. Mark, We've heard number of
figures in the Trump administration saying they want to exert
maximum pressure on Iran to bring a deal forward. Is
there a sense that these latest attacks will get Iran
there good morning.
Good morning. Well, there's very little evidence to suggest that
it will. This is kind of a long process.
These are kind of the most uh, you know, serious
attacks that we've had during the ceasefire.
But there have been you know, an awful lot.
It's clear that the r markets think that, you know,
this will just be another episode and we'll be back
to this sort of you know, unstable equilibrium, neither peace
nor war, with no deal but no kind.
Of resort returned to total war.
But it's very unstable, and that was the point when
the Apache helicopter was shot down. You know that the
US suddenly had to respond, and it's responded in a
pretty reasonably tough way. Now they're threatening to you know,
bomb much harder and essentially end the ceasefire if Iran
doesn't you know, sign a deal by Friday.
That signature seems unlikely. But you know, this is a
very unpredictable kind of conflict.
To your point, the process, as you say, has been long.
But with the President saying you'd like to see a
deal signed by tomorrow, his patients.
Is very short.
Do you see a risk here of escalation? Given all that.
There is a risk. He clearly does not want to
return to full war. He's not.
You know, it really isn't clear what the US would
be able to achieve if it does.
And you know they've already run through a lot of stocks.
There are costs to this.
Iran does have ways of retaliating and inflicting pain not
just on the US but on its allies in the
Gulf and on the global economy. And this is the
reason that we had to cease fire in the first place.
Nothing has changed there. It's just that the Iranians will
not have not been willing to bend to the terms
that Trump thinks unnecessary in order for him to walk
away and say I won.
Just thirty seconds left, Mark, Where do you see the
status of back channel talks right now?
They're going on. The Qataris are just coming back from Tehran.
They've been talking to the Iranians. The Pakistanis are still involved.
They're talking to the Iranians and Americans. You know, they
are going on. It's just a very difficult proposition. Essentially,
the Iranians are saying, we want control of the Strait
of hor Moves, we want money, and we want various guarantees,
including for Lebanon and the US. Simply, you know is
on a different track in terms of the kinds of
terms that it's looking for, and there, essentially, you know,
is the problem. Trump keeps saying that we're close to
a deal.
We haven't been.
This is Bloomberg Daybreak, your morning podcast on the stories
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