Biden in France for D-Day; Nvidia Joins $3 Trillion Club

Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan 0:00:12.119 --> 0:00:15.080 Hager and I'm Karen Moscow. Here are the stories we're 0:00:15.120 --> 0:00:15.920 following today. 0:00:16.160 --> 0:00:19.200 Karen, we begin in Normandy, France. That is where President 0:00:19.239 --> 0:00:22.120 Biden is gathering with world leaders to mark eighty years 0:00:22.160 --> 0:00:25.160 since the Allied invasion that turned the tide in World 0:00:25.200 --> 0:00:28.360 War II. On d Day, the President will meet with 0:00:28.480 --> 0:00:32.120 Ukraine's President Vladimir Zelenski and look to tie his country's 0:00:32.159 --> 0:00:35.599 current conflict with Russia to the West's fight against the Nazis. 0:00:36.080 --> 0:00:39.320 Former NATO Ambassador Kay Bailey Hutchison says, the world needs 0:00:39.360 --> 0:00:41.520 to stand united against Vladimir Putin. 0:00:41.960 --> 0:00:45.240 It is so important that and I'm sure the President 0:00:45.240 --> 0:00:49.080 Biden will will say the importance of us being allied 0:00:49.320 --> 0:00:54.800 against Russia trying to take over a free country is 0:00:54.840 --> 0:00:58.960 something we must stand against because if we don't, then 0:00:59.560 --> 0:01:02.880 we will be involved in a war in Europe, and 0:01:02.920 --> 0:01:04.679 that's what we're all trying to avoid. 0:01:04.920 --> 0:01:07.800 Former NATO Ambassador Kay Bailey Hutchison was a guest on 0:01:07.840 --> 0:01:11.160 Bloomberg's Balance of Power. President Biden gave a preview of 0:01:11.200 --> 0:01:13.560 what he'll say in Normandy at a fundraiser this week, 0:01:13.600 --> 0:01:16.880 he told Donor's quote, democracy is literally on the ballot 0:01:16.959 --> 0:01:17.479 this year. 0:01:18.120 --> 0:01:20.679 Well, Nathan, back here in the US, New Yorkers who 0:01:20.800 --> 0:01:24.880 dreaded the fifteen dollars congestion pricing fee aren't sharing the 0:01:24.880 --> 0:01:28.600 governor's decision to halt the program. Bloomberg Jeff Bellinger has 0:01:28.640 --> 0:01:29.839 the latest from Manhattan. 0:01:30.319 --> 0:01:33.760 Some questions remain about how to replace the one billion 0:01:33.800 --> 0:01:38.160 dollar expected pot to repair public transportation, improve air quality 0:01:38.240 --> 0:01:42.560 and reduce congestion. But Brooklyn Nights, Manhattan Nights, and especially 0:01:42.640 --> 0:01:46.559 Staten Islanders are ecstatic. It had become a major issue 0:01:46.560 --> 0:01:50.400 in the upcoming congressional races, and Governor Kathy Hokeel focused 0:01:50.440 --> 0:01:51.640 on that in her message. 0:01:51.680 --> 0:01:54.800 My focus must be on putting more money back in 0:01:54.880 --> 0:01:58.880 people's pockets, and that's why I must stand up for them. 0:01:59.200 --> 0:02:02.600 The measure is on the shelf indefinitely in New York. 0:02:02.760 --> 0:02:04.639 Jeff Bullinger Bloomberg Radio. 0:02:04.880 --> 0:02:07.120 All right, Jeff, thank you for turning the markets. Interest 0:02:07.200 --> 0:02:10.560 rates are in focus overseas as the European Central Bank 0:02:10.560 --> 0:02:13.720 gets ready to make a policy decision. Bloomberg's Lizzie Burden 0:02:13.840 --> 0:02:15.240 is covering from Frankfurt. 0:02:15.800 --> 0:02:19.359 Well, we've seen Christine Legard entering the Central Bank this morning. 0:02:19.400 --> 0:02:21.080 She didn't want to cut before I reserve, but it 0:02:21.120 --> 0:02:24.119 looks like she will this quarter point cuts three point 0:02:24.160 --> 0:02:28.760 seventy percent, well telegraphed, fully prized by market and almost 0:02:28.880 --> 0:02:32.240 unanimously expected by economists. And of course we'll listen to 0:02:32.320 --> 0:02:35.840 Leguard at the press conference for guidance on the cadence 0:02:35.880 --> 0:02:39.080 of cuts. Can we expect them quarterly? Is it a 0:02:39.160 --> 0:02:41.760 case that they cut today and pause and go back 0:02:41.800 --> 0:02:42.960 to day to dependence. 0:02:43.680 --> 0:02:47.040 Bloomberg's Lizzie Burden notes the ECB has held it's rated 0:02:47.080 --> 0:02:50.119 a record high four percent for nine months. 0:02:50.480 --> 0:02:53.880 Well, Nathan, As we await the ECB decision, Global bonds 0:02:53.919 --> 0:02:56.760 are on their longest winning streak of the year. Well, 0:02:56.800 --> 0:02:59.160 stocks in the US are training at all time highs 0:02:59.440 --> 0:03:02.600 to get the lay with Bloomberg's John Tucker, John. 0:03:02.400 --> 0:03:05.840 And Karen, there is now a worldwide consensus that interest 0:03:05.880 --> 0:03:08.800 rates will be cut this year. As a result, sovereign 0:03:08.840 --> 0:03:12.320 bond returns rose for a fifth straight session. Another day 0:03:12.320 --> 0:03:15.280 of gains would mark the best run since November. VESA 0:03:15.320 --> 0:03:17.960 is trying to capture those bond yields before the Central 0:03:17.960 --> 0:03:21.200 Bank start cutting. Well, just yesterday, the Bank of Canada 0:03:21.240 --> 0:03:24.519 decided to ease and software than expended. US economic data 0:03:24.560 --> 0:03:28.480 suggests the Fed may cut rates two times before year end, 0:03:28.800 --> 0:03:31.760 and the winning streak extends beyond bonds. The S and 0:03:31.800 --> 0:03:34.800 P five hundred hit its twenty fifth record this year, 0:03:35.040 --> 0:03:38.280 the NANSDEK one hundred climbed two percent, and if history 0:03:38.320 --> 0:03:41.240 is any guide, more stock gains may be on the way. 0:03:41.520 --> 0:03:44.520 Since nineteen twenty eight, the first fifteen days of July 0:03:44.960 --> 0:03:47.320 have been the best two week trading period for the 0:03:47.400 --> 0:03:50.400 year for equities. John Tucker, Bloomberg Radio. 0:03:50.240 --> 0:03:52.640 All right, John, thanks. Helping to lead this current stock 0:03:52.720 --> 0:03:56.760 rally is Nvidia. That company's market value has now topped 0:03:56.800 --> 0:04:01.800 three trillion dollars. Steve Sosnick is chief strategists at Interactive Brokers. 0:04:02.320 --> 0:04:05.360 As early as like February twenty three, I did account 0:04:05.400 --> 0:04:07.160 how many times I use the word AI in their 0:04:07.160 --> 0:04:07.720 conference call. 0:04:07.800 --> 0:04:09.600 It was like eighty two times or something. 0:04:09.680 --> 0:04:12.360 But they leaned into it early. Once this AI became 0:04:12.520 --> 0:04:15.600 the investment theme, in Vidia became the stock to watch. 0:04:15.600 --> 0:04:18.120 But at this point, right now, my thesis is it's 0:04:18.160 --> 0:04:20.080 in Vidia's market. We're all just trading in it. 0:04:20.320 --> 0:04:23.200 The Interactive Brokers Steve Sasnik notes shares in the AI 0:04:23.279 --> 0:04:25.960 chip giant have gained some one hundred and forty percent 0:04:26.040 --> 0:04:29.280 this year, making in Nvidia now more valuable than Apple. 0:04:29.960 --> 0:04:33.479 Well Nathan, another member of the three trillion dollar club, 0:04:33.560 --> 0:04:36.159 is also in the spotlight. The Wall Street Journal is 0:04:36.200 --> 0:04:40.320 reporting US regulators are investigating whether a deal Microsoft struck 0:04:40.400 --> 0:04:44.720 with AI startup Inflection may have been structured to avoid scrutiny. 0:04:45.040 --> 0:04:48.279 Back in March, Microsoft agreed to pay Inflection six hundred 0:04:48.279 --> 0:04:51.960 and fifty million dollars to license its AI software after 0:04:52.000 --> 0:04:54.479 the company moved to hire much of its staff. The 0:04:54.600 --> 0:04:58.080 journal says the Federal Trade Commission is now seeking information 0:04:58.480 --> 0:05:01.320 about how they negotiate that partnership and. 0:05:01.320 --> 0:05:05.480 Karen the tech investigations might not end there. The New 0:05:05.560 --> 0:05:07.960 York Times is reporting that the US has cleared the 0:05:07.960 --> 0:05:11.840 way for antitrust inquiries into Microsoft, as well as Nvidia 0:05:11.880 --> 0:05:15.320 and Open Ai. The paper says the Justice Department and 0:05:15.360 --> 0:05:18.640 the FTC have agreed to divide responsibility for investigating the 0:05:18.720 --> 0:05:21.560 three major players in the AI industry. 0:05:21.960 --> 0:05:25.440 Well Nathan, another big company, is facing scrutiny in Washington. 0:05:25.600 --> 0:05:29.800 Boeing CEO Dave Calhoun will face a bipartisan inquiry into 0:05:29.800 --> 0:05:33.680 the Planemaker's safety practices and culture. He'll appear before the 0:05:33.839 --> 0:05:38.040 Senate Permanent Subcommittee on Investigations on June eighteenth. The panel 0:05:38.080 --> 0:05:42.239 began examining the Planemaker earlier this year after whistleblower's flag 0:05:42.279 --> 0:05:45.280 concerns with the company's manufacturing practices. 0:05:45.600 --> 0:05:48.520 Karen Boeing did take a big step forward yesterday, a 0:05:48.520 --> 0:05:51.360 big step up actually, with the successful launch of its 0:05:51.360 --> 0:05:56.440 Starliner space taxi. This morning, it is SpaceX's turn. Elon 0:05:56.560 --> 0:05:59.920 Musk's space company is set for the fourth major test 0:06:00.080 --> 0:06:03.440 flight of its massive Starship rocket and super heavy booster 0:06:04.000 --> 0:06:07.640 from the southern tip of Texas. Liftoff is set for 0:06:07.680 --> 0:06:11.360 eight am Wall Street time. The launch window runs till ten, though, 0:06:11.440 --> 0:06:16.400 and we will bring you live coverage on Bloomberg Radio. 0:06:18.000 --> 0:06:19.400 And it's time now for a look at some of 0:06:19.440 --> 0:06:21.479 the other stories making news in New York and around 0:06:21.520 --> 0:06:24.320 the world. For that, we're joined by Bloomberg's Michael Barr Michael, 0:06:24.320 --> 0:06:25.080 Good Morning. 0:06:24.920 --> 0:06:29.279 Good morning, Karen Gilgolbach. Murder suspect Rex Hureman will be 0:06:29.320 --> 0:06:33.360 indicted on new charges today. Suffolk County District Attorney Ray 0:06:33.400 --> 0:06:37.560 Tierney is announcing what he is calling a very significant development. 0:06:38.000 --> 0:06:41.040 All expectations are that Heureman will be linked to at 0:06:41.080 --> 0:06:44.799 least one and possibly two victims, some of the cases 0:06:44.920 --> 0:06:49.880 dating back decades. Senate Democratic leaders say they plan more votes. 0:06:49.960 --> 0:06:55.080 After a bill to protect contraceptive access failed yesterday, some 0:06:55.160 --> 0:07:00.000 Republicans argued the legislation was too broad and isn't necessary. 0:07:00.000 --> 0:07:04.080 The Hughes Democrats are fearmongering and trying to score political points, 0:07:04.360 --> 0:07:06.120 Republican Senator Ted Cruz. 0:07:06.320 --> 0:07:08.920 Democrats in the Senate, every one of them. Their views 0:07:08.920 --> 0:07:13.040 on abortion are extreme and radical. Every Democrat in this 0:07:13.160 --> 0:07:18.520 body has voted repeatedly in favor of unlimited abortion on demand, 0:07:18.800 --> 0:07:20.360 literally up until the moment of birth. 0:07:20.880 --> 0:07:24.320 Democrats argued women should have the right to birth control 0:07:24.360 --> 0:07:28.480 and believe the overturning of Roe versus Wade could jeopardize 0:07:28.520 --> 0:07:32.440 other reproductive rights. An appeals court has halted the Georgia 0:07:32.520 --> 0:07:36.880 election interference case against former President Donald Trump and others 0:07:37.000 --> 0:07:41.000 while it reviews the lower court judge's ruling allowing Fulton 0:07:41.080 --> 0:07:44.480 County DiscT Attorney Fannie Willis to remain on the case. 0:07:45.040 --> 0:07:48.080 The Georgia Court of Appeals yesterday issued the order which 0:07:48.120 --> 0:07:51.960 will prevent Fulton County Superior Court Judge Scott McAfee from 0:07:52.000 --> 0:07:56.160 moving forward with pre trial motions while the appeal is pending. 0:07:56.600 --> 0:07:58.840 This makes it even more certain that the case is 0:07:58.920 --> 0:08:02.320 unlikely to go to TRUP before the November general election. 0:08:02.880 --> 0:08:07.240 Former federal prosecutor Lorie Levinson is a professor at Loyola Law. 0:08:07.840 --> 0:08:10.360 I don't think that there's anything that the prosecutors can 0:08:10.400 --> 0:08:12.880 do in Georgia at this point. This is not an 0:08:12.920 --> 0:08:16.120 issue that they can raise to a higher court. They're 0:08:16.160 --> 0:08:19.160 going to have to wait and see if under the 0:08:19.200 --> 0:08:22.920 Georgia Court of Appeal Order Finnie Willis, the district attorney 0:08:22.920 --> 0:08:25.559 who brought these charges, could even stay on this case. 0:08:26.280 --> 0:08:29.960 Meanwhile, in another court victory for the former president, Florida, 0:08:30.000 --> 0:08:34.360 Federal Judge Eileen Kennon postponed the schedule in Trump's Maury 0:08:34.400 --> 0:08:38.560 Lago classified documents case. It reshuffles the timing for hearings 0:08:38.559 --> 0:08:42.440 on several important legal issues. The criminal trial of President 0:08:42.520 --> 0:08:46.520 Biden's son Hunter resumes this morning in Delaware. The prosecution 0:08:46.559 --> 0:08:49.480 could arrest its case today. Hunter Biden is charged with 0:08:49.640 --> 0:08:52.240 lying about his drug use when he purchased a gun 0:08:52.520 --> 0:08:56.040 in twenty eighteen. Global News twenty four hours a day 0:08:56.200 --> 0:08:58.640 and whenever you want it with the Bloomberg News Now 0:08:58.880 --> 0:09:01.400 Michael Barr, and this is Bloomberg Karen. 0:09:01.559 --> 0:09:08.160 All right, Michael Barr, thank you. Time now for the 0:09:08.160 --> 0:09:11.320 Bloomberg Scores update with John stash Hour. John, good morning, 0:09:11.440 --> 0:09:11.800 all right. 0:09:11.679 --> 0:09:12.360 Good morning Karen. 0:09:12.400 --> 0:09:14.319 Now they went for the Yankees. This one was easy 0:09:14.400 --> 0:09:17.440 at the stadium of four run first in against the Twins, 0:09:17.480 --> 0:09:19.679 and they attacked on in the fifth, loading. 0:09:19.400 --> 0:09:19.920 To the basin. 0:09:21.000 --> 0:09:24.520 Castillo's pitched to Judge, he's lying great, sitting the left. 0:09:24.760 --> 0:09:26.640 That one's going all the way into the corner. 0:09:26.840 --> 0:09:29.480 One run scores, two run scores. 0:09:29.840 --> 0:09:32.840 Here comes Sodo around third, having all kinds of trouble 0:09:32.840 --> 0:09:35.199 with the ball in left field, and to third. 0:09:34.960 --> 0:09:38.880 Goes Aaron Judge and the Yankees have blown this one. 0:09:39.000 --> 0:09:42.600 Win over on WFA and five RBIs for Judge, three 0:09:42.720 --> 0:09:45.439 hits three Anthony Vaulpa Minnesota scored some runs late off 0:09:45.480 --> 0:09:47.600 the Yankee bullpen. But the Yanks one nine to five. 0:09:47.679 --> 0:09:50.160 They've won seven or zho eighteen of twenty two. They're 0:09:50.160 --> 0:09:52.480 five and oh versus the Twins by a combined score 0:09:52.520 --> 0:09:55.480 of twenty eight to seven. They seek the sweep tonight. 0:09:55.480 --> 0:09:57.760 A three game sweep for the Mets, there first since 0:09:57.800 --> 0:10:00.480 mid April, nine to one rout of Washington and Luis 0:10:00.520 --> 0:10:03.480 Torrens over twice. The Yankees won nine to five. The 0:10:03.559 --> 0:10:05.520 Mets won nine to one. On the Red Sox won 0:10:05.600 --> 0:10:08.040 nine to nothing over Atlanta. They out hit the Braves 0:10:08.080 --> 0:10:10.640 thirteen to one. Of the Giants won nine to three 0:10:10.679 --> 0:10:13.480 at Arizona Grand Stand for Wilmer, Florid. The French opened 0:10:13.480 --> 0:10:17.120 two upsets to the women's quarterfinals. First Jasmin Pallini, the 0:10:17.200 --> 0:10:19.959 five foot four inch Italian surprise four seat of the 0:10:20.000 --> 0:10:22.679 later Abaka and then seventeen year old of Russian mur 0:10:22.840 --> 0:10:26.200 Andreva notped off second seat at Arena Sablanca. Schrumes the 0:10:26.240 --> 0:10:29.600 youngest semifinalist in parisons Martina Hingis in nineteen ninety seven. 0:10:29.640 --> 0:10:32.600 The two winners beat today the marquee match Coco Golf 0:10:32.600 --> 0:10:36.280 against Eagle Sciante NBA finals tipping off tonight in Boston. 0:10:36.400 --> 0:10:39.600 Celtics and Mas well rested. They won their conference finals 0:10:39.640 --> 0:10:41.959 in four and five games. Both have been often more 0:10:41.960 --> 0:10:45.480 than a week. The college football playoff tripling in size, 0:10:45.520 --> 0:10:47.880 going from four teams to twelve. The schedule now out 0:10:47.920 --> 0:10:51.839 the playoff begins December twentieth, last for a month. Quarterfinal 0:10:51.880 --> 0:10:54.760 games New Year's Weekend. The semifinals will be in Dallas 0:10:54.800 --> 0:10:58.840 and Miami Championship game in Atlanta. Johns Dashaw were Bloomberg 0:10:58.880 --> 0:11:00.400 Slaunch Kardinia. 0:11:02.120 --> 0:11:06.160 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:06.360 --> 0:11:09.240 and around the world on Bloomberg dot Com and the 0:11:09.280 --> 0:11:14.079 Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm 0:11:14.160 --> 0:11:17.640 Nathan Hager. World leaders are gathering in Normandy, France, to 0:11:17.720 --> 0:11:20.679 mark eighty years since the Allies stormed the beaches and 0:11:20.720 --> 0:11:23.720 turned the tide against the Nazis. It is a chance 0:11:23.800 --> 0:11:27.720 for those Allies, including President Biden, to reaffirm their support 0:11:27.800 --> 0:11:31.320 today as Europe faces its biggest conflict since World War 0:11:31.360 --> 0:11:34.720 Two in Russia's war with Ukraine. For more, we are 0:11:34.800 --> 0:11:37.800 joined by Bloomberg News Paris bureau chief Alan Katz, who 0:11:37.840 --> 0:11:40.520 is with us from our newsroom in the French capital. 0:11:41.080 --> 0:11:45.360 Alan, Good morning. The historical sweep of this gathering eighty 0:11:45.480 --> 0:11:48.640 years after D Day is certainly significant. Set the scene 0:11:48.720 --> 0:11:52.080 for us. What are we expecting from today's observances. 0:11:52.600 --> 0:11:56.520 Well, today is mostly going to be about the ceremony 0:11:56.520 --> 0:11:58.840 as you said, it's the eightieth anniversary. So there are 0:11:59.640 --> 0:12:03.880 several veterans, both the British, American, Canadian and all the 0:12:03.920 --> 0:12:06.520 Allies who did storm the beaches back in D Day, 0:12:06.960 --> 0:12:09.880 and they're all around one hundred years old now, so 0:12:09.960 --> 0:12:11.760 this is sort of the last time that they expect 0:12:11.800 --> 0:12:14.560 there to be such a big gathering of veterans left 0:12:16.360 --> 0:12:19.959 from the D Day assault. And so you have right now, 0:12:20.000 --> 0:12:22.000 you have King Charles from the UK giving a speech 0:12:22.040 --> 0:12:25.480 at the moment, at around twelve thirty, Joe Biden. President 0:12:25.520 --> 0:12:30.200 Biden will give a speech for the US commemoration, and 0:12:30.240 --> 0:12:33.640 then this afternoon there'll be an international commemoration bringing together 0:12:33.760 --> 0:12:37.320 all of the Allies and even some opponents from the time, 0:12:37.360 --> 0:12:40.720 including German cent or Off Schultz. That will be around 0:12:40.720 --> 0:12:44.040 three thirty this afternoon, and so there'll be a series 0:12:44.080 --> 0:12:49.080 of again mostly commemorative events. Joe Biden is speaking with 0:12:49.800 --> 0:12:53.080 veterans this morning before a weeflying ceremony before his speech. 0:12:53.640 --> 0:12:57.000 It will be largely ceremonial today, with many of the 0:12:57.040 --> 0:13:00.559 speeches talking about how they need to come together, how 0:13:00.640 --> 0:13:04.320 they need to help, democracies need to unite in the 0:13:04.360 --> 0:13:08.360 face of authoritarianism again. Both said, but largely unsaid will 0:13:08.360 --> 0:13:12.559 be the connection between the fight back then and Ukraine's 0:13:12.559 --> 0:13:13.840 fight against Russia today. 0:13:14.280 --> 0:13:16.920 We should note Paris is six hours ahead of the 0:13:16.920 --> 0:13:19.320 East coast in the US. We're expecting that speech from 0:13:19.320 --> 0:13:22.120 President Biden around six thirty am Wall Street time, and 0:13:22.120 --> 0:13:24.280 we've gotten something of a preview allent of what the 0:13:24.320 --> 0:13:27.640 President plans to say, as you alluded to, sort of 0:13:27.800 --> 0:13:31.200 tying the conflict from World War Two to what he 0:13:31.240 --> 0:13:34.760 sees as a fight to defend democracy today. It's a 0:13:34.800 --> 0:13:39.920 fight that he helps resonates with voters as he prepares 0:13:39.960 --> 0:13:42.200 for a rematch against former President Donald Trump. 0:13:43.040 --> 0:13:45.960 That's true. I mean he's unlikely to bring up Trump 0:13:46.000 --> 0:13:48.040 directly in the speech, particularly in the one today. He's 0:13:48.080 --> 0:13:51.400 giving some other speeches tomorrow which might be a little 0:13:51.440 --> 0:13:56.600 bit more explicitly political. But again, even just bringing up 0:13:56.640 --> 0:13:59.040 the idea that you need to unite, work with your 0:13:59.040 --> 0:14:03.200 allies to stand up against tyranny and authoritarianism are sort 0:14:03.240 --> 0:14:05.680 of veiled attempts to draw a different sort of distinction 0:14:05.800 --> 0:14:10.320 between him and the former president Donald Trump. Trump was 0:14:10.360 --> 0:14:12.880 here for the seventy fifth anniversary, so five years ago. 0:14:13.160 --> 0:14:18.840 At the time, he publicly at least supported American veterans 0:14:19.560 --> 0:14:23.480 from D Day, but really made no comment or didn't 0:14:23.520 --> 0:14:26.480 even mention sort of allies and institutions that were created 0:14:26.520 --> 0:14:28.400 by the United States following World War Two to try 0:14:28.440 --> 0:14:30.840 to sort of keep the peace after World War Two. 0:14:30.880 --> 0:14:33.400 And so Biden's really going to try to show that 0:14:33.480 --> 0:14:36.400 he's a different kind of leader, that he's the leader 0:14:36.440 --> 0:14:38.320 of the United States, but also the leader of a 0:14:38.360 --> 0:14:41.960 broader group of allies that can come together in times 0:14:42.200 --> 0:14:42.880 of crisis. 0:14:43.520 --> 0:14:46.880 From the European perspective, alan how do leaders feel about 0:14:46.920 --> 0:14:50.040 the relationship with the US right now, particularly given all 0:14:50.040 --> 0:14:54.040 the strife that we saw around support for Ukraine militarily 0:14:54.120 --> 0:14:56.320 in Congress just a couple of months ago. 0:14:57.800 --> 0:15:00.960 It varies from country to country, but France, for example, 0:15:01.040 --> 0:15:04.640 has been quite worried about it actually, and if you 0:15:04.840 --> 0:15:09.960 listen to President Macall, French President of Vanue McColl's speeches 0:15:10.200 --> 0:15:14.280 over the last month or two, he's painted quite a 0:15:14.320 --> 0:15:19.280 disturbing picture of worry about whether or not the US 0:15:19.440 --> 0:15:23.920 will continue to be there. And his argument has been 0:15:23.960 --> 0:15:28.080 that Europe needs to, you know, master its own defense, 0:15:28.240 --> 0:15:30.960 and in order to be sort of the master of 0:15:31.000 --> 0:15:34.440 its future, has to create a common defense program that 0:15:34.480 --> 0:15:39.000 could protect a country like Ukraine against against Russian aggression. 0:15:39.640 --> 0:15:43.040 He didn't call out Biden on the defense part of it, 0:15:43.080 --> 0:15:45.240 because Biden has been much more supportive of NATO, But 0:15:45.680 --> 0:15:49.880 his basic point is that after Trump's presidency, you just 0:15:50.000 --> 0:15:52.800 can't be sure how the United States is going to 0:15:53.080 --> 0:15:56.400 proceed again. There hasn't been much, I guess explicitly on 0:15:56.440 --> 0:16:00.480 the delay in Congress on reauthorizing the aid TO, but 0:16:00.520 --> 0:16:02.920 it did help play into this idea that the US 0:16:02.960 --> 0:16:05.880 has become, while it was sort of the ultimate security 0:16:05.920 --> 0:16:09.160 blanket for your for decades and decades following World War Two, 0:16:09.160 --> 0:16:11.520 that things are changing and that Europe needs to be 0:16:11.600 --> 0:16:12.160 ready for it. 0:16:12.480 --> 0:16:15.400 This is Bloomberg day Break Today, your morning brief on 0:16:15.480 --> 0:16:19.000 the stories making news from Wall Street to Washington and beyond. 0:16:19.280 --> 0:16:22.040 Look for us on your podcast feed at six am 0:16:22.120 --> 0:16:25.760 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:25.840 --> 0:16:27.000 get your podcasts. 0:16:27.120 --> 0:16:29.840 You can also listen live each morning starting at five 0:16:29.880 --> 0:16:32.480 am Wall Street time on Bloomberg eleven three to zero 0:16:32.520 --> 0:16:35.360 in New York, Bloomberg ninety nine to one in Washington, 0:16:35.480 --> 0:16:38.360 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:38.440 --> 0:16:40.120 ninety sixty in San Francisco. 0:16:40.480 --> 0:16:43.640 Our flagship New York station is also available on your 0:16:43.680 --> 0:16:49.120 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:49.160 --> 0:16:52.560 Listen coast to coast on the Bloomberg Business app, SERRIUSXM, 0:16:52.680 --> 0:16:56.960 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:56.760 --> 0:16:59.840 And I'm Karen Moscow. Join us again tomorrow morning for 0:17:00.080 --> 0:17:02.520 all the news you need to start your day, right 0:17:02.520 --> 0:17:04.200 here on Bloomberg Daybreak