Campus Crackdown, Amazon Shares Rise on Earnings

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. 0:00:16.320 --> 0:00:19.320 We have new developments on the pro Palestinian protests at 0:00:19.360 --> 0:00:22.920 Columbia University and across the country. Let's get the very 0:00:23.000 --> 0:00:27.440 latest with Bloomberg's John Tucker bag on you. 0:00:27.440 --> 0:00:30.479 You at the epicenter of the protests. New York City 0:00:30.480 --> 0:00:33.720 police moved in just after nine o'clock last night, entering 0:00:33.760 --> 0:00:36.800 Columbia University's Hamilton Hall with a ladder truck through an 0:00:36.880 --> 0:00:40.440 upstairs window. They pushed through mounds of furniture piled up 0:00:40.479 --> 0:00:43.680 as barricades. As arrests were made. Some people were led 0:00:43.720 --> 0:00:47.400 away bound by zip ties. Mayor Eric Adams did deliver 0:00:47.520 --> 0:00:50.040 a warning before police began making arrests. 0:00:50.360 --> 0:00:55.480 I'm urging every student and every protestant to walk away 0:00:55.720 --> 0:00:56.720 from this situation. 0:00:57.000 --> 0:01:00.560 Now they continue your advocacy. 0:01:00.280 --> 0:01:03.680 Through other means, The Police Commissioner sai. Among those arrested 0:01:03.720 --> 0:01:07.000 were people who had no affiliation with Columbia. As those 0:01:07.120 --> 0:01:10.640 arrested were loaded on buses, demonstrators on the streets wave 0:01:10.720 --> 0:01:14.760 Palestinian flags and chanted into fada the building was cleared 0:01:14.800 --> 0:01:17.880 to protesters after about two hours. That was the scene 0:01:17.920 --> 0:01:21.000 in New York. In Los Angeles early today, police were 0:01:21.040 --> 0:01:25.000 responding immediately to a request for support of the University 0:01:25.040 --> 0:01:28.360 of California campus. John Tucker Bloomberg Radio, all. 0:01:28.360 --> 0:01:29.360 Right, John, Thanks well. 0:01:29.400 --> 0:01:33.280 Lawmakers are calling more university leaders to Capitol Hill to 0:01:33.319 --> 0:01:38.800 testify about anti Semitism on campus, and Bloomberg's Nancy Lyons reports. 0:01:38.880 --> 0:01:43.360 With pro Palestinian protests and encampments growing at universities across 0:01:43.400 --> 0:01:46.080 the country, the House Committee on Education in the Workforce 0:01:46.440 --> 0:01:50.200 is expanding its questioning about campus activity. It's now calling 0:01:50.200 --> 0:01:52.960 on the presidents of Yale, the University of Michigan, and 0:01:53.160 --> 0:01:57.639 UCLA to testify May twenty third. The presidents of Harvard, MIT, 0:01:57.800 --> 0:02:00.480 and Penn appeared before the committee in December, while the 0:02:00.520 --> 0:02:03.920 president of Columbia testified in early April. Most who have 0:02:04.000 --> 0:02:07.280 appeared before the committee have been criticized by some lawmakers 0:02:07.560 --> 0:02:11.959 as being evasive and overly legalistic. In Washington, Nancy Lyons 0:02:11.960 --> 0:02:13.120 Bloomberg Radio. 0:02:13.000 --> 0:02:14.040 All Right, Nancy, thank you. 0:02:14.160 --> 0:02:17.239 Then, the Middle East Secretary of State Anthony Blincoln continues 0:02:17.280 --> 0:02:20.440 his push for a ceasefire between Israel and Hamas. Blincoln 0:02:20.520 --> 0:02:23.720 met today in Tel Aviv with Israeli President Isaac Herzog, 0:02:23.720 --> 0:02:26.360 and he called on Hamas to accept Israel's terms for 0:02:26.360 --> 0:02:28.680 appause in fighting in exchange for hostages. 0:02:28.919 --> 0:02:32.959 We're determined to get a ceasefire that brings the hostages vault, 0:02:33.639 --> 0:02:36.919 and to get it now, and the only reason that 0:02:36.919 --> 0:02:39.000 that wouldn't be achieved is because of Hamas. 0:02:39.120 --> 0:02:42.040 And Secretary Blincoln says the release of hostages in Gaza 0:02:42.080 --> 0:02:45.000 is at the heart of US foreign policy. That policy 0:02:45.160 --> 0:02:47.960 may be shifting when it comes to Palestinians caught up 0:02:47.960 --> 0:02:51.160 in the fighting. According to CBS News, the Biden administration 0:02:51.320 --> 0:02:55.959 is considering allowing certain Palestinians into the US as refugees 0:02:56.400 --> 0:02:58.880 if they have family members who are American citizens or 0:02:58.960 --> 0:03:01.880 permanent residents. Until now, the more than four decade old 0:03:01.960 --> 0:03:05.960 US refugee program has never been used to resettle Palestinians 0:03:06.000 --> 0:03:06.960 in large numbers. 0:03:07.639 --> 0:03:11.160 Well Nathan in Legal News this morning, former President Donald 0:03:11.160 --> 0:03:14.320 Trump is getting a break from his Manhattan hush money 0:03:14.360 --> 0:03:17.679 trial today, but there have been significant developments in the 0:03:17.760 --> 0:03:20.440 last twenty four hours. In Bloomberg Law, host Doing Granso 0:03:20.520 --> 0:03:21.960 has the details from New York. 0:03:22.440 --> 0:03:25.760 Donald Trump was held in contempt of court yesterday and 0:03:25.840 --> 0:03:29.840 fined nine thousand dollars for repeatedly violating a gag order 0:03:30.160 --> 0:03:34.200 that barred him from making public statements about witnesses and jurors. 0:03:34.600 --> 0:03:37.760 The judge warned that if there are other violations, Trump 0:03:37.800 --> 0:03:40.480 may end up in jail, and the jury heard the 0:03:40.520 --> 0:03:44.480 most vivid testimony yet about payments to silence a former 0:03:44.560 --> 0:03:48.880 Playboy playmate, Karen McDougall at an adult film star Stormy 0:03:48.960 --> 0:03:53.520 Daniels before the twenty sixteen election. Los Angeles attorney Keith Davidson, 0:03:53.560 --> 0:03:58.080 who represented both, recounted frantic talks with Trump's former lawyer, 0:03:58.200 --> 0:04:02.160 Michael Cohen and the National Inquirer, whose publisher wanted to 0:04:02.160 --> 0:04:05.680 help Trump win the presidency. In New York, June, Gross 0:04:05.680 --> 0:04:06.920 Obenberg Radio. 0:04:06.840 --> 0:04:07.840 All right, June, thank you. 0:04:08.280 --> 0:04:11.160 Turning to Market's futures are lower as we begin this 0:04:11.240 --> 0:04:13.560 new trading month. The S and P five hundred dropped 0:04:13.600 --> 0:04:16.480 more than four percent in April, snapping a streak of 0:04:16.520 --> 0:04:20.480 five straight monthly gains. The dollar notched its fourth consecutive 0:04:20.520 --> 0:04:23.680 monthly advance. That's the longest winning run for the greenback 0:04:23.760 --> 0:04:25.360 since September twenty twenty two. 0:04:26.080 --> 0:04:29.080 Well Nathan Corporate earnings continued to be front and center. 0:04:29.200 --> 0:04:32.279 Shares of Amazon at more than two percent in early trading. 0:04:32.320 --> 0:04:35.640 Profit and revenue came in above analyst estimates. The company's 0:04:35.640 --> 0:04:39.800 cloud unit, AWS posted the strongest sales growth in a year. 0:04:40.120 --> 0:04:43.600 Begin More from Bloomberg Technology Host and Ludlow from San Francisco. 0:04:44.040 --> 0:04:47.680 AWS is the clear market leader in cloud, bigger than 0:04:47.800 --> 0:04:51.800 Microsoft as you're certainly bigger than Google's cloud platform. It's 0:04:51.800 --> 0:04:54.600 seeing accelerating growth. Growth in the fourth quarter was about 0:04:54.600 --> 0:04:57.240 thirteen percent, It's now nearer to fourteen and a half 0:04:57.279 --> 0:05:00.640 fifteen percent, and the strategy is basically be a place 0:05:00.839 --> 0:05:04.120 where other companies who are interested in AI can build 0:05:04.160 --> 0:05:07.520 whatever software it is they want on aws's platforms. 0:05:07.760 --> 0:05:09.039 Bloomberg's and Ludlow says. 0:05:09.080 --> 0:05:12.320 Despite the strong cloud performance, the company's sales forecast for 0:05:12.360 --> 0:05:15.000 the current quarter fell short of estimates. 0:05:15.279 --> 0:05:17.680 Karen A couple other high tech companies are taking it 0:05:17.720 --> 0:05:21.000 on the chin. This morning, shares of Advanced micro Devices 0:05:21.000 --> 0:05:23.760 are down more than six percent. The second biggest maker 0:05:23.760 --> 0:05:27.240 of computer processors gave a lukewarm revenue forecast for the 0:05:27.240 --> 0:05:30.039 current period. It's being weighed down by lackluster demand for 0:05:30.120 --> 0:05:32.040 chips used in video game hardware. 0:05:32.520 --> 0:05:35.960 Well Nathan, shares of a super microcomputer are down nine 0:05:36.000 --> 0:05:39.000 and a half percent. The company did report quarterly sales 0:05:39.000 --> 0:05:41.640 that tripled from the same period last year, but they 0:05:41.839 --> 0:05:45.480 fell slightly short of estimates. That's disappointing investors who had 0:05:45.560 --> 0:05:49.679 sky high expectations that the server maker's business would benefit 0:05:49.720 --> 0:05:51.279 from AI related demand. 0:05:51.720 --> 0:05:54.880 And Starbucks investors are getting a jolt to the downside. 0:05:54.880 --> 0:05:58.320 Those shares are down twelve percent. Sales at the coffee 0:05:58.400 --> 0:06:01.600 chain fell for the first time since twenty twenty. If 0:06:01.640 --> 0:06:05.119 this morning's declined holds, it would be Starbucks' biggest stock 0:06:05.240 --> 0:06:08.039 drop since March of twenty twenty, the early days of 0:06:08.080 --> 0:06:08.800 the pandemic. 0:06:09.240 --> 0:06:11.520 Well Nathan, Let's turn to the economy now. The Fed 0:06:11.640 --> 0:06:14.560 is expected to leave rates on hold once again, but 0:06:14.600 --> 0:06:18.080 attention will turn to j Powell's news conference after their decision. 0:06:18.360 --> 0:06:20.840 We get a preview from Bloomberg's Michael McKee. 0:06:20.960 --> 0:06:23.440 If today's FED meeting were a Dickens novel, it might 0:06:23.480 --> 0:06:27.520 be called small expectations. Policymakers are not going to change 0:06:27.560 --> 0:06:30.680 the nation's benchmark interest rate, They are not providing new 0:06:30.720 --> 0:06:33.920 economic forecasts, and they are not issuing a new dot 0:06:33.960 --> 0:06:37.320 plot outlook for rates. Chair j Powell's press conference is 0:06:37.440 --> 0:06:41.080 essentially the only chance for any market moving news, and 0:06:41.160 --> 0:06:44.440 he will be working hard not to provide any expected 0:06:44.480 --> 0:06:47.200 to maintain the FED line. We don't have enough confidence 0:06:47.240 --> 0:06:50.320 to cut rates, and we're not thinking of raising rates, 0:06:50.800 --> 0:06:53.480 at least not yet. Michael McKee, Bloomberg Radio. 0:06:53.680 --> 0:06:56.200 All right, Mike, thanks well for full team coverage at 0:06:56.200 --> 0:06:58.760 the FED decision and Powell news conference. Day tuned to 0:06:58.800 --> 0:07:02.520 a Bloomberg Radio and television for the Bloomberg Surveillance special 0:07:02.839 --> 0:07:05.800 the Fed discides. It all begins at one thirty pm 0:07:05.920 --> 0:07:11.240 Wall Street Time. But it's time now for a look 0:07:11.280 --> 0:07:13.000 at some of the other stories making news in New 0:07:13.080 --> 0:07:15.400 York and around the world, and for that we're joined 0:07:15.400 --> 0:07:16.920 by Bloomberg's Michael Barr. 0:07:16.960 --> 0:07:18.520 Michael, Good Morning, Good morning. 0:07:18.600 --> 0:07:22.400 Karen. Tim Kennedy declared victory in a special election to 0:07:22.480 --> 0:07:26.200 replace former New York Representative Brian Higgins and serve the 0:07:26.240 --> 0:07:29.440 rest of the term. It keeps the Buffalo area district 0:07:29.440 --> 0:07:33.520 and Democrats control. Higgins resign in February after being named 0:07:33.600 --> 0:07:37.440 president of a performing arts center in Buffalo. Kennedy, a 0:07:37.480 --> 0:07:42.160 state senator, defeated Republican Gary Dixon, a town supervisor in 0:07:42.240 --> 0:07:45.200 the upstate New York district that includes the cities of 0:07:45.200 --> 0:07:48.080 Buffalo and Niagara in the heavily blue district. 0:07:48.400 --> 0:07:51.120 This victory is your victory. 0:07:51.640 --> 0:07:54.360 This victory is our victory. 0:07:54.920 --> 0:08:00.080 Tonight, we are one step closer to preserving. 0:07:59.600 --> 0:08:04.800 Tom audio courtesy of WIVBTV. The margin of victory for 0:08:04.880 --> 0:08:09.120 Kennedy was seventy eight to twenty two percent. A six 0:08:09.160 --> 0:08:12.200 week abortion ban takes effect today in Florida, replacing a 0:08:12.200 --> 0:08:15.880 previous restriction of fifteen weeks. National Right to Life President 0:08:15.920 --> 0:08:17.000 Carol Tobias. 0:08:17.000 --> 0:08:20.800 I'm very excited about fifty percent of all abortions occur 0:08:21.000 --> 0:08:25.040 after that point in pregnancy, so this bill is going 0:08:25.080 --> 0:08:25.720 to save a. 0:08:25.720 --> 0:08:26.640 Lot of lives. 0:08:26.880 --> 0:08:31.280 Meanwhile, Michelle Cassada, a spokeswoman for Planned Parenthood in Florida, 0:08:31.440 --> 0:08:33.960 says the band will have an immediate impact in the state. 0:08:34.240 --> 0:08:37.160 We're looking at tens of thousands of patients that are 0:08:37.200 --> 0:08:40.160 either going to have the travel hundreds, if not thousands 0:08:40.200 --> 0:08:43.480 of miles to another state with access, or be forced 0:08:43.520 --> 0:08:45.199 to carry a pregnancy against their will. 0:08:45.480 --> 0:08:48.960 Casada says most women who seek abortion care are between 0:08:49.040 --> 0:08:52.680 eight and ten weeks pregnant. New York City police fatally 0:08:52.720 --> 0:08:55.199 shot a man after a brief stand off in Manhattan. 0:08:55.400 --> 0:08:58.800 Officials say two officers had an investigator with a Department 0:08:58.840 --> 0:09:02.360 of Homeland Security part of a gang violence task force, 0:09:02.400 --> 0:09:05.960 identified and approached the twenty five year old man suspected 0:09:06.040 --> 0:09:09.080 of committing a violent crime. The n MYPD says the 0:09:09.080 --> 0:09:12.079 man ran inside an optical story he was standing in 0:09:12.080 --> 0:09:17.000 in front in Chelsea Chaef. Joseph Kennedy, a Kennedy reader 0:09:17.200 --> 0:09:20.080 says that the man produced a gun and after a 0:09:20.120 --> 0:09:21.920 brief struggle, shots were fired. 0:09:22.080 --> 0:09:24.400 The mail was removed to an area hospital, where he 0:09:24.480 --> 0:09:25.240 was pronounced dead. 0:09:25.720 --> 0:09:28.400 A member of the task for US received minor injuries. 0:09:28.760 --> 0:09:32.280 The Biden administration is taking a major step toward reclassifying 0:09:32.320 --> 0:09:35.640 marijuana as a less dangerous drug. The move would not 0:09:35.760 --> 0:09:39.440 legalize pot, but the consequences for using it would be 0:09:39.559 --> 0:09:42.480 less severe. Global News twenty four hours a day and 0:09:42.600 --> 0:09:45.720 whenever you want it with Bloomberg News Now Michael Barr 0:09:45.800 --> 0:09:47.400 and this is Bloomberg Heart. 0:09:47.720 --> 0:09:55.000 Sorry Michael Burr, thank you time now for the Bloomberg 0:09:55.080 --> 0:09:57.040 Sports Update with John stash Hour. 0:09:57.160 --> 0:09:59.360 John, Good morning, Good morning Care on the Mixter getting 0:09:59.360 --> 0:10:02.240 read of head back to Philadelphia for our game six tomorrow, 0:10:02.280 --> 0:10:04.360 and it certainly didn't look like that was going to 0:10:04.360 --> 0:10:06.439 be the case. Game five that the guard Knicks led 0:10:06.440 --> 0:10:09.120 the Sixers by six with twenty eight seconds to go, 0:10:09.240 --> 0:10:12.560 but Tyrese Maxie with a four point play, and after 0:10:12.640 --> 0:10:14.680 Josh Hart missed a free throw, Maxie with a three 0:10:14.720 --> 0:10:18.439 pointer from about thirty five feet forced overtime. Six Ers 0:10:18.440 --> 0:10:21.520 trailed by five and ot came back. They won one 0:10:21.640 --> 0:10:24.720 twelve to one oh six as Maxie scored forty six points. 0:10:24.760 --> 0:10:28.000 Jalen Brunson had forty in the loss. Nick touchdown. Thibodeaux 0:10:28.000 --> 0:10:31.199 asked about how regulation ended, and again. 0:10:30.960 --> 0:10:33.719 In those situations, you talk about what you want to 0:10:33.760 --> 0:10:37.120 do there out of timeouts. Josh, you's got two free throws, 0:10:37.120 --> 0:10:41.760 it's two, So you have to, you know, communicate what 0:10:41.800 --> 0:10:46.200 your decisions are. And so you know, we could have 0:10:46.200 --> 0:10:48.040 done better in that situation. 0:10:47.720 --> 0:10:48.280 And we will. 0:10:48.360 --> 0:10:51.000 Two other games in the East Milwaukee State Alive one 0:10:51.080 --> 0:10:53.800 fifteen ninety two over Indiana's the leads three to two. 0:10:53.920 --> 0:10:56.800 Cleveland top to Orlando by a point, Caves are up 0:10:56.800 --> 0:10:58.640 three to two. Home teams won every game the season's 0:10:58.679 --> 0:11:00.960 over for the Islanders. They fought back in Raleigh, down 0:11:01.000 --> 0:11:03.440 three to one, game was tied going to the third 0:11:03.440 --> 0:11:07.160 period Carolina with two goals in eight seconds. Hurricanes won 0:11:07.280 --> 0:11:09.040 six to three and the Kynes will now take on 0:11:09.120 --> 0:11:11.679 the Rangers in the second round Toronto in overtime win 0:11:11.720 --> 0:11:13.560 at Boston, cutting the Bruins lead to three to two, 0:11:14.120 --> 0:11:17.760 Nashville one. In Vancouver, Colorado finished off Winnipeg at Cityfield. 0:11:17.760 --> 0:11:20.240 Three run homer, sixth towenty for DJ Stewart gave the 0:11:20.320 --> 0:11:22.240 Mets the six to one, went over the Cubs another 0:11:22.320 --> 0:11:25.800 two run light hitting Yankee loss in Baltimore Orioles one 0:11:25.880 --> 0:11:29.199 forty two. Johns Stashawa, Bloomberg Sports Canon Nathan. 0:11:30.760 --> 0:11:34.920 Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:35.000 --> 0:11:37.920 and around the world on Bloomberg dot Com and the 0:11:37.960 --> 0:11:42.440 Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm 0:11:42.520 --> 0:11:44.000 Nathan Hager. We want to get more now. 0:11:44.040 --> 0:11:46.360 In the big tech earning story of the morning, that 0:11:46.400 --> 0:11:49.320 would be Amazon. The e commerce giant reported profit and 0:11:49.360 --> 0:11:51.959 revenue in the first quarter that did beat Wall Street estimates, 0:11:51.960 --> 0:11:54.760 with its strongest sales growth in the cloud in a year, 0:11:55.400 --> 0:11:58.200 but the forecast for the current quarter is falling short 0:11:58.240 --> 0:12:00.720 in what may be a warning sign for the main 0:12:00.880 --> 0:12:03.679 e commerce business over at Amazon. Let's bring in Dan 0:12:03.760 --> 0:12:06.720 Ives for more on these results. Senior equity research analysts 0:12:07.080 --> 0:12:08.400 at white Bush Securities. 0:12:08.720 --> 0:12:09.400 Dan, good morning. 0:12:09.440 --> 0:12:12.079 I know you and a lot of analysts were focused 0:12:12.320 --> 0:12:16.400 really closely on the cloud. Did AWS come through for you? 0:12:17.520 --> 0:12:21.640 I can't. This is a trophy case quarter for AWS. 0:12:21.720 --> 0:12:25.720 Seventeen percent, I mean whispers were fifteen percent. This is 0:12:25.800 --> 0:12:29.160 exact what Amazon needed to do to show that the 0:12:29.240 --> 0:12:33.400 cloud moved. Joe is back, very important quarter for Jase 0:12:33.760 --> 0:12:34.480 and Amazon. 0:12:35.520 --> 0:12:38.719 What about the forecast for the current quarter? It did 0:12:38.760 --> 0:12:40.960 come in a little bit weaker than a lot of 0:12:41.000 --> 0:12:44.559 analysts expected. Could that be a concern not just FORAR 0:12:44.800 --> 0:12:47.319 the e commerce side, but for the cloud? 0:12:48.400 --> 0:12:50.440 Yeah, it could be, but I think streets we can do. 0:12:50.520 --> 0:12:53.480 This is conservative and that's why stock will be up today. 0:12:54.040 --> 0:12:58.120 Look a key with this name, especially in the shadows 0:12:58.360 --> 0:13:02.520 of a massive number from my Microsoft and Google. Amazon 0:13:02.600 --> 0:13:05.079 needs to come to ourn AWS and it sures not 0:13:05.240 --> 0:13:07.839 just on cloud, but now the next step in terms 0:13:08.000 --> 0:13:13.880 AI jazzing and Amazon monetizing that that's the golden Dews. 0:13:14.080 --> 0:13:15.520 That's what the streets focused on. 0:13:16.400 --> 0:13:20.960 Obviously, AWS is the dominant player in the cloud. Do 0:13:21.040 --> 0:13:26.480 these results show that the cloud side did enough to 0:13:26.600 --> 0:13:31.400 maintain that position against the pretty impressive numbers we saw 0:13:31.520 --> 0:13:35.360 last week from Microsoft and alphabet for their cloud units. 0:13:35.920 --> 0:13:38.839 Yeah. I think in this game of thrones, they're keeping up. 0:13:39.360 --> 0:13:43.600 And that's the important thing because this is not just 0:13:44.600 --> 0:13:47.600 a winner takes all. You're going to see many, many 0:13:47.679 --> 0:13:51.640 winners in this AI revolution. Amazon's going to be key 0:13:51.640 --> 0:13:54.800 player there. But now you're starting to see a company 0:13:54.840 --> 0:13:57.720 that i'd say the last few quarters backwards against the wall. 0:13:58.240 --> 0:14:00.840 It's starting to turn and that is huge for the 0:14:00.920 --> 0:14:04.120 stock and it's something that I think investors, even on 0:14:04.160 --> 0:14:06.240 a ripple effect, they're going to look to the rest 0:14:06.280 --> 0:14:11.000 of tech. It sures this tech earning season has been robust, 0:14:11.440 --> 0:14:13.640 all the big textarll wards coming through. 0:14:14.480 --> 0:14:17.600 Can these text stalwarts maintain this kind of trajectory when 0:14:17.880 --> 0:14:21.520 we could see potentially some macro risks when it comes 0:14:21.560 --> 0:14:25.280 to enterprise spending on AI products. Do you think this 0:14:25.440 --> 0:14:28.760 kind of demand can continue to be maintained in this 0:14:28.840 --> 0:14:29.840 economic environment. 0:14:30.600 --> 0:14:32.840 Yeah, it's a great clause. Well, I think on the edges, 0:14:32.960 --> 0:14:36.080 I mean, there could be some soft spots, but overall, 0:14:36.680 --> 0:14:39.680 this is a fourth Industrial Revolution that's planning out, and 0:14:39.720 --> 0:14:42.320 I think that's what we see across tech. You know, 0:14:43.320 --> 0:14:45.760 it's not going to be straightened to the right, but 0:14:45.840 --> 0:14:48.400 it's something that we have not seen since nineteen ninety 0:14:48.400 --> 0:14:49.960 five at the. 0:14:49.840 --> 0:14:51.480 Time we have left Dan, I want to get your 0:14:51.520 --> 0:14:54.920 take on this confirmation that we've gotten from Tesla that 0:14:55.080 --> 0:14:59.240 the supercharger network, just about all the workers involved in 0:14:59.280 --> 0:15:01.080 it are being a lit eminated. I wonder what you 0:15:01.120 --> 0:15:02.560 make of that move from elon Musk. 0:15:03.160 --> 0:15:06.240 Look, it's tough decisions that they're making on these cost cuts, 0:15:06.280 --> 0:15:09.480 but that's the street ones to see. He'll rebuild it back. 0:15:09.920 --> 0:15:12.920 But it shows now you finally have an adult in 0:15:12.920 --> 0:15:15.640 the room with Musk and Nats and investors want to 0:15:15.640 --> 0:15:18.720 see in Tesla after a very very tough six to 0:15:18.800 --> 0:15:19.480 nine months. 0:15:19.800 --> 0:15:22.880 What could it mean though in terms of EV demand. 0:15:22.960 --> 0:15:26.840 I mean, a lot of concern is around range anxiety, right, 0:15:26.880 --> 0:15:30.840 and if the growth of supercharger doesn't potentially stay where 0:15:30.840 --> 0:15:33.600 it has been, what could that mean for EV demand 0:15:33.640 --> 0:15:34.240 going forward? 0:15:34.960 --> 0:15:36.640 Look, I think writing is in the wall, and I 0:15:36.680 --> 0:15:39.360 think Musk has seen you know, we've seen in Tesla's results. 0:15:39.360 --> 0:15:41.440 They're going to have to slow down the supercharge to 0:15:41.480 --> 0:15:45.120 build out even with these OEM deals. And I think 0:15:45.160 --> 0:15:48.680 it just shows it's been some dark days for ev demand, 0:15:48.800 --> 0:15:52.200 but the growth is not over. But it's this smart 0:15:52.240 --> 0:15:54.680 move for Tesla, even though it's a head scratcher that 0:15:54.720 --> 0:15:56.360 they actually got rid of the whole department. 0:15:57.040 --> 0:15:59.880 This is Bloomberg day Break Today, your morning brief on 0:16:00.040 --> 0:16:03.560 the story's making news from Wall Street to Washington and beyond. 0:16:03.840 --> 0:16:06.600 Look for us on your podcast feed at six am 0:16:06.680 --> 0:16:10.320 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:10.400 --> 0:16:11.520 get your podcasts. 0:16:11.680 --> 0:16:14.400 You can also listen live each morning starting at five 0:16:14.440 --> 0:16:17.080 am Wall Street time on Bloomberg eleven three to zero 0:16:17.080 --> 0:16:19.960 in New York, Bloomberg ninety nine to one in Washington, 0:16:20.040 --> 0:16:22.920 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:23.000 --> 0:16:24.680 nine sixty in San Francisco. 0:16:25.040 --> 0:16:28.200 Our flagship New York station is also available on your 0:16:28.240 --> 0:16:33.680 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:16:33.720 --> 0:16:37.280 Listen coast to coast on the Bloomberg Business app, seriusxmb 0:16:37.440 --> 0:16:41.520 iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:41.280 --> 0:16:42.440 And I'm Karen Moscow. 0:16:42.640 --> 0:16:45.400 Join us again tomorrow morning for all the news you 0:16:45.520 --> 0:16:48.760 need to start your day right here on Bloomberg Daybreak 0:17:01.880 --> 0:17:02.360 And the