US and Iran Trade Fire; Secret Service Shoots Man Near White House

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today, Karen.
Nearly a month into a fragile ceasefire in the Middle East,
the US and Iran have been trading fire again. This morning.
A relative calm has returned, but not before US Central
Command says the military fought off Iranian drones, missiles, and
small armed boats as it guided two US flagged vessels
through the Strait of Horror moves. The United Arab Emirates
says it has also intercepted Iranian cruise missiles and taken
a hit to its for jeraport from an Iranian drone.
We get more from Bloomberg's Jumana Borsecci in Dubai.
As a resident of the UAE. In the evening yesterday,
we received multiple missile alert techts throughout the course of
the night. This happens after an Adnok tanko was reportedly
targeted by an Iranian drone and then also emerged in
the evening. That's Randy and Drown had also managed to
intercept uaeas air defense system and cause some damage at
an oil exporting facility, and this is the first time
we got such an incident. And as you say, the
four weeks since the seasfire.
Bloomberg's Jumanibers sets your reports. All this is raising questions
now about whether the seasfire has been broken well.
Nathan Chevron says the conflict has forced the company and
other oil majors to reduce Middle East production. CEO Mike
Wirth says he's been warning the White House that supplies
are tightening. He spoke to Bloomberg at the Milk and
Global Conference in Los Angeles.
My advice to the President really relates to energy markets,
not to diplomacy and negotiations. And you know, I've advised
people in the administration that the buffers and the system
that help ensure supplies are available to markets are being
drawn down. And what that does. That creates more upside
price pressure, potentially more volatility and more risk.
And you can see our entire interview with Chevron's CEO,
Mike and dozens of others from the Milk and Global conference.
They're all on our new video experience on the Bloomberg
Business app.
Karen.
Officials are investigating a shooting not far from the White House.
The Secret Service says law enforcement shot an unidentified man
near the Washington Monument after he opened fire on them.
Secret Service Deputy Director Matt Quinn says agents were called
about a suspicious person who appeared to be carrying a
firearm pawn making contact.
That individual fled briefly on foot, withdrew a firearm and
fired fired in the direction of our agents and officers.
They returned fire and engaged That individual was hit.
Secret Service Deputy Director Matt Quinn says a teenager was
also shot, but not seriously hurt. A motorcade with Vice
President jd Vance had passed through the area shortly before
the confrontation, but the Secret Service says there is no
indication he was a target.
Nathan Senate Republicans have unveiled their plans to pay for
President Trump's immigration enforcement agenda for the rest of his term.
The bills from the Homeland, Security and Judiciary committees would
greenlight a combine seventy one point seven billion dollars for
Immigration and Customs enforcement and Customs and Border Protection. The
Secret Service would also receive a billion dollars for security
enhancements to the President's White House Ballroom project, Republicans could
move the bills through the Senat as soon as next
week without Democratic votes under the Budget Reconciliation Process KARENT.
Some key elections are on the docket today. Ohio is
holding statewide primaries and prominent ally of President Trump's running
for an open governor's seat and their competitive races for
the House and Senate as well. Bloomberg's Amy Morris reports
from Washington.
The race to replace outgoing Republican Governor Mike DeWine includes
Trump backed tech entrepreneur vivek Ramaswami. The winner will face
doctor Amy Acton, who is unopposed for the Democratic nomination.
In the Senate race, former Senator Shared Brown is running
to reclaim his old job. He faces Ron for the
Democratic nomination. One of the notable House races features a
crowded Republican field competing to take on twenty two term
in combat Democrat Marcy Captor in the ninth Congressional district
in Washington. Amy Moore as Bloomberg Radio Right.
Amy, thank you. Let's turn to the markets now, and
futures are higher following yesterday's war related declines. Still, the
S and P five hundred out more than five percent
this year. Well, the Nasdaq is up almost eight percent.
Stuart Kaiser, as head of US equity trading strategy at City.
You know, on our estimates, retail is accounting for about
seven and a half percent of equity trading volumes. That
number was as high as eleven or twelve earlier in
the year, and as high as fifteen back in October,
So retail is present. But I do think this is
more institutional in the US, so hedge funds getting their
risk up, and then frankly, I think international investors have
gravitated back towards the US similar to the way they
did last April.
And City Stuart Kaiser also says better than expected earnings
have helped fuel the market rally, and.
Karen Pallenteer is of the those companies that have topped
earnings estimates and raised their revenue outlook for the year.
Havarn Pallenteer's case, the tech company also posted disappointing commercial
sales in the US for the first quarter. Stock is
down more than three percent.
Let's look at the flip side, Nathan shares of Intel.
They are up more than three percent in early trading.
Bloomberg News has learned. Apple has held discussions about using
Intel and Samsung Electronics to produce the main processors for
its devices. Beget the story with Bloomberg's John Tucker.
Sources see The iPhone and iPad maker has had early
stage talks with Intel about enlisting the company's chip making services. Meanwhile,
Apple executives had made visits to a Samsung plant under
development in Texas that will also make advanced chips. For
more than a decade, Apple has designed the main processors
known as systems on a chip that power its devices
and relied on Taiwan's semiconductor manufacturing to build them using
the most advanced production processes in Taiwan. Apple is considering
additional supply due to supply chain disruptions, including recent shortages
driven by the buildout of AI data centers and hired
demand for max, which has constrained the company's growth. I'm
John Tucker, Bloomberg Radio John Thanks.
In Europe, shares of HSBC are down about six percent.
The London based bank reported profit that missed estimates. HSBC
was weighed down by an unexpected fraud related charge in
the UK and rising economic risks from the conflict in
the Middle.
East and Nathan a fine for Elon Musk. The billionaire
has agreed to pay one and a half million dollars
to settle SEC allegations that he cheated Twitter shareholders in
twenty twenty two by failing to properly disclose his growing
stake in the social media company. It's a much smaller
penalty than what must attorney says the SEC initially sought.
A letter from twenty twenty four seen by Bloomberg News
shows the agency asked Musk to pay more than two
hundred million dollars to settle. Time now for a look
at some of the other stories making news in New
York and around the world, and for that we're joined
by Bloomberg's Michael bar Michael, good morning, Good morning Karen.
A close call at Newark Airport is raising new concerns
about aviation safety. Investigators say a United Airlines jet came
within feet of disaster when it struck a tractor trailer
and light poll while landing. There were no injuries on
board the plane. United now has removed the flight crew
from duty and is pledging a thorough investigation along with
the NTSB. Transportation Secretary Sean Duffy.
This is unacceptable. We having low We have some really
well trained palads.
This is one This should never happen in America.
The driver of the truck was treated for minor injuries
and is okay. The sudden collapse of Spirit Airlines is
not only affecting travel, it's affecting local economies. Near Pittsburgh,
the executive director of Arnold Palmer Regional Airport, Maurice Hunts,
says the loss of flights will force downsizing.
We hate to do that because it's one big family
here at the airport.
I mean a lot of people put their heart and
soul in making this place thrive.
Airport director Maurice has says they will have to let
people go until they can find a replacement airline, and
that could be a few months from now to maybe
a year. New York City officials say that anti Semitic graffiti,
including swastikas, were spray painted on Jewish homes and synagogues,
and queens congrets at a synagogue are angry.
I really lived in a comforting cocoon.
I grew up in forest shelles, and I felt, Oh,
it can't happen here.
Police say that no arrests have been made. A spokesman
f Rudy Giuliani says the former New York City mayor
is now breathing on his own. Spokesman Ted Goodman says
though Giuliani is still in critical condition as he recovers
from pneumonia in a Florida hospital. Goodman said that the
lung infection had overwhelmed Giuliani and that he had required
a ventilator to breathe. It's unclear when the eighty one
year old former mayor was hospitalized. Global News twenty four
hours a day and whenever you want it with Bloomberg
News Now. I'm Michael Barrn. This is Bloomberg Cameron.
Thanks Michael. Time now for our Bloomberg Sports updating. For that,
we bring in John stash Hour.
Thanks Darren.
How hot are the next? They've won four straight playoff games.
They've been by fourteen points, then by twenty nine fifty one,
and last night in New York a thirty nine point
round of Philadelphia in Game one of that playoff series
in the West Minnesota one by two in San Antonio
to take the opener of that series. Carolina Hurricanes undefeated
the Stanley Cup playoffs. They beat Philadelphia three two and
over time they leave the series two zip. Vegas won
Game one from Anaheim Yankees over Baltimore twelve to one.
The Yanks have one sixteen of eighteen. That's the Bloomberg
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Stay with us.
More from Bloomberg day Break coming up after this.
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This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Tensions
in and around the Strait of Horror moves are flaring
into open fire between the US and Iran, nearly a
month into their ceasefire, but after more than two months
of war, President Trump says it had to be done.
Can't let them have a nuclear weapon?
Where are you going to have?
You have problems like nobody would believe, and it's going
very well.
Was President Trump, speaking at a small business summit at
the White House yesterday. Joining us this morning from Dubai
is Bloomberg's head of Middle East coverage, Stuart Livingstone Wallace, Stuart,
it's good to speak with you this morning. How are
things going. How fragile is the ceasefire this morning? Good morning, Good.
Morning, Nathan. I mean, I think it's fair to say
it is fragile, but in some respects it's been fragile
since day one. I mean, we did have sort of
open fire within the first couple of days of the ceasefire,
and as you said, you know, things already hotted up yesterday.
Now that largely seems to have been triggered by this
US attempt to open a passageway through or moves. They
did get at least a couple of ships through that
we're of. You know, there were a couple of US
Navy ships that went through. There was a commercial ship
that went through, and the response I think from the
Iranian side was to, you know, dramatically try and close
it again. So we had fire on commercial shipping around
the UAE. We had you know, missiles and drones take
off again again headed towards US. Now they were largely
successfully intercepted, but it is sort of, I guess a
warning to us all that, yes, we are in the
middle of US eas far, but it's a pretty fragile
one and it's quite hard to see just what the
definitive agreement will look like when both sides are clearly
determined to keep pressing out.
So, after the flare ups that we've seen over the
last twenty four hours, are we back to a point
that we were sort of at the height of the war,
where we're asking whether other countries are going to get
thrown into this conflict, particularly with the UAE intercepting some
of the fire it's taken recently.
Yeah, I mean I don't think we're quite there yet. Again,
you'll hear the hesitancy in my voice, because it's been
very hard to predict what the next steps in any
of this conflict are. I mean, it's one unprecedented a
vendor after another, starting from the closure of Horror moves
to you know, to Iran directly attacking the Gulf States.
So in terms of what comes next, I think the
US administration is probably going to want to wait and
see a few days at least whether this new initiative
to open up hor Moos has some impact, whether that
can be sustained. And also looking at the Iranian side,
I mean, one thing that's certainly come up in conversations
today is what exactly is the Iranian strategy here beyond
blocking horn moves forever. You know, what exactly do they
want out of this? Do they truly expect the US
administration to walk away from its red lines that are
set out with regard to the nuclear file, ballistic missile
support for Broxies, you know, all these hugely important issues.
And again that's something that we'll see, you know, over
the next week or two how that develops. In the meantime,
we have, certainly Pakistan, but I'm sure lots of other
interested parties working hard behind the scenes to try and
get the two sides talking again. If you recall we
had that sort of rather aborted at term to the
second round of talks in Islamabad. What was that now
a couple of weeks ago. Again, I think there's a
great appetite out there to try and find some common ground.
But right now that I don't think anyone's already seeing it.
Only about thirty seconds or so left here Stewart. But
is there a sense this morning from where you are
that the ceasefire is broken now or is there still
a chance that it could be holding.
I mean, again, as got back to my original answer,
and what does cease far look like I mean, in fairness,
all sease fars across this region have been rather patchy,
you know, in terms of the multiple conflicts would have
over the last three years. As things stand right now,
and it is just right now, it appears reasonably calm.
We've had no fresh reports of attacks on shipping, We've
had no fresh missile alerts here in the UAE. So
as things stand pretty calm relative to the current environment.
And again I think there is great appetite out there
to try and move things forward, because you know, right
where we are now is having a ripple effect across
the global economy that's not good for anyone.
This is Bloomberg Daybreak, your morning podcast on the stories
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