US Bombs More Iran Targets, Growing Fed Inflation Fears

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, we begin with the latest on the war with
i Ron. For the second time this week, the US
has gone after Iranian military targets as both sides struggled
to move ahead on a peace deal. A US official
says for Iranian drones targeting a commercial ship were shot
down and a launch unit near the straight of Horror
moves was hit. Iran says it targeted the bases in
Kuwait where the US attacks came from. All this as
President Trump insists Iran wants to make a deal.
Is very much intent. They want very much to make
a deal. So far they haven't gotten it. We're not
satisfied with it, but now we will be.
We will be.
Either that or we'll have to just finish the job.
President Trump spoke at a White House Cabinet meeting heard
live on Bloomberg Radio. Bloomberg's head of Middle East coverage,
Suert Livingston Wallace, reports the president may be in a binding.
Ran shown itself to have an exceptionally high pain threshold,
and I suspect does consider this to be an ex
essential moment for the regime, and therefore, you know, is
not prepared to make a lot of concessions, if any
concessions what we can see.
Bloomberg Stewart living Ston Wallace reports President Trump appears to
be cut between Iran's demands for financial relief and ends
who attacks and Republican hawks who are urging him to
finish the job or at least not sign a bad deal.
Nathan Now to the latest in the war in Ukraine.
Vladimir Lensky is rejecting the idea of partial membership in
the European Union, and a letter to senior EU officials,
he argued that the country deserves full membership because its
forces are defending the blog from Russia. Here's Zelenski speaking
through an interpreter.
We we understand that much of the wealth tension is
currently focused on the war in Iran, but we must
also end the war here in Europe, a bloody conflict
that has now been raging at full scale for a
fifth year. As soon as we can strength the protection
against ballistic missiles, the sooner we can make diplomacy work.
Selenski's comments come after German Chancellor Frederick Mertz suggested Ukraine
could be granted an associate membership as an interim step
before a full accession in the future.
Well, now, let's turn to politics at home, Karen. Congressional
Democratic leaders have lost a bid for a court order
to block the Trump administration from prohibiting mail in voting
for anyone who's not on a pre approved list of citizens.
A federal judge ruled that the Democrats' legal challenge to
President Trump's executive order is premature because the restrictions haven't
been put in place yet. The order would ban the
Postal Service from sending mail in ballots to anyone who's
not on a government approved list compiled by the Department
of Homeland Security Nathan.
The Trump Justice Department has reportedly opened up a new
investigation into one of the presidents perceived political enemies, and Bloomberg.
John Tucker joins us with the latest John Good morning, Yeah,
Good morning.
Caeron the New York Times, reporting the agency has litpen
a criminal probe into Ejene Carroll, the eighty two year
old former magazine writer who won a civil judgment against
the President that he sexually abused and defamed her well.
This probe reportedly accuses Carol of concealing financial support for
her case from LinkedIn co founder Reid Hoffman, who's appears
Trump critic. The Justice Department has aggressively pursued investigations into
President Trump's political targets, including the former FBI director James
Colby and New York Attorney General Letitia James. The acting
Attorney General Todd Blanche reportedly has recused himself from this
case because he represented the President in Carol's lawsuit in
New York. I'm John Tucker Bloomberg Radio.
Okay, John, thank you, and President Trump's filed the new
version of his ten billion dollar lawsuit against the Wall
Street Journal. The president sued the paper over a story
last year that said he sent a body birthday note
to Jeffrey Epstein in two thousand and three with a
sketch of a naked woman and his signature in the middle.
A federal judge dismissed the president's case last month, saying
it came nowhere close to the legal standard for a
public figure to claim defamation. The new laws suit accuses
the journal it's reporters parent company now Jones and Chairman
Emeritus Rubert Murdoch of publishing the story, either knowing it
was false or with disregard for the truth. Several tech
stocks are on the move this morning, including shares of Snowflake.
They are surging in the pre market of nearly thirty
five percent. The software maker signed a six billion dollar
multi year agreement to use Amazon's cloud services and chips.
Man Deep Sing is Global head of Tech Research at
Bloomberg Intelligence.
For a company like Snowflake that has law of big
enterprise customers to be able to use the Amazon distribution
and the LM integrations they have and integrate Snowflake's data
for agent ig functionality, that is how you make sure
you don't get disintermediated. And I think that's why you
see the positive reaction in terms of those stocks.
Mandeep Saying with Bloomberg Intelligence says Snowflake also gave us
stronger than expected annual outlook.
Shares of Nebius there are more than eleven percent this morning.
Nathan the investment and firm Situational Awareness has reported a
five point six percent stake in the cloud computing services provider.
Before this morning's gain, shares of Nebis were already up
almost one hundred and fifty percent this.
Year, and Karen. Shares of Dell are up more than
four and a half percent. The Pentagon says Dell unit's
one of nine point seven billion dollar contract to help
the military handle its licenses for Microsoft software across the
Defense Department and intelligence community. Dell reports earnings after the
close of trading today, and.
Shares of Salesforce Nathan they're down about one and a
half percent. The company gave a revenue outlook that fell
just short of analyst estimates, as unnerving investors already concerned
about the possibility that artificial intelligence will disrupt the software
business and Kier.
We're also hearing from JP Morgan Chase CEO Jamie Diamond.
He says his bank will probably spend about a billion
dollars more this year than executives expected just last month.
Diamond says the increase is mostly driven by better performance,
so quote it's a good extra billion. Diamond talked about
his bank's performance at the Bernstein Strategic Decisions Conference.
I personally think that right now we're over Ernie, And
I know that's a hard concept, but you know, I
think credit losses are the kind of normalize it, but
they still still may be a little low volumes are
very high, So remember you know, when you have high volumes,
low credit losses and certain market we have today what's
a probably over Ernie, you know, but our competition is
also very good.
Jamie Diamond also says JP Morgan's on the lookout for acquisitions,
but he cautions the bank can be patient with capital.
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 Barr.
Michael, good Morning, Good morning, Karon.
The Democratic Republic of Congo is seeking access to an
experimental antibody treatment targeting multiple ebola strains, as confirmed infections
and deaths continue climbing in the country's east. According to
the Health Ministry, they are reported one hundred and twenty
one confirmed bola cases and seventeen confirmed deaths in Congo.
Suspected cases climb to almost eleven hundred and suspected deaths
reached two hundred and thirty eight overall. Doctor cheekway Hekuazoo
is with the World Health Organization. He says they are
quickly trying to get ahead of the spread by getting
infected people in the treatment and isolated.
What is always a game of cat and moss because
we have to be we don't know where to come from,
we don't know when, so we have to kind of
continuously work with what we have in order to get
to where we.
Need to be.
Ebola is spread through contact with body fluids of infected, sick,
or dead individuals. Recovery crews are continuing to search for
nine people who went missing when a tank containing a
highly corrosive industrial chemical ruptured at a paper mill in Washington. State.
Officials say that two people are known to have died
in the accident and seven others have been injured. Washington
State Governor Bob Ferguson says it has been emotional for
the residents of Longview.
You know, any time you're talking about that scale of tragy,
that scope of tragy and that number of lives lost
and injured, it's a pre profound impact.
For community like this, Governor Ferguson. Officials say there is
no chance of survival for the nine who are missing.
New York lawmakers approved a revenue package that includes a
new surcharge on price. He's second homes in the city.
The levy is expected to take effect July first. The
goal is to generate five hundred million dollars to help
close New York City's budget hole. Global news twenty four
hours a day and whenever you want it with Bloomberg
News Now. I'm Michael Barr, and this is Bloomberg Karen.
Thanks Michael a time now for our Bloomberg Sports Update,
and for them we bring in John stash Hour.
Bes Darren is great a hitter as Joe Ayozani is.
This season, he's been an even better pitcher at Dodger
Stadium and hit a monster leadoff home run and on
the mound he worked six innings, gave up a run
but no hits. Lower to Zer to zero point eight two.
The Dodgers beat the Rocky four to one. Carolina Hurricanes
are now eleven and one in the Stanley Cup Playoffs.
They scored three goals in a span of less than
three minutes, scored an empty netter, and won four to
nothing at Montfreal. The Hurricanes leave the series three games
to one. That's for Bloomberg Sports Update.
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 war with Iran is
now at the three month mark, and once again the
US is going after Iranian targets near the Strait of Hormuz,
even as President Trump says Tehran is desperate to make
a deal.
They're negotiating on fumes. But we'll see what happens. Maybe
we have to go back and finish it. Maybe we don't.
That was President Trump at a White House Cabinet meeting
herd live on Bloomberg Radio, joining US now as Bloomberg
Middle East correspondent to Bloomberg Horizons anchored Jumana Bursecci Jamana.
Good morning.
Are the latest strikes the US finishing it?
Good morning?
Yeah, Well, look at another test of the seas far
the second time this week that we see an incident
across the Strait of Hormones, but the US saying that
they acted in a defensive capacity. They shot down four
drones that were being directed at a US commercial vessel.
They also went on to target a drone launching site
in Iran as well, at close to the port of Bendarabas,
which is very close to the Strait of Hormos. In return,
Iran saying that they would stride back at US military base,
and around the same time Kowaits reported that their air
defense system had been triggered, and so perhaps you could
infer that the Iranian response did come through on that base.
There's been no confirmation of that matter. But the point
is here that the US did say they were acting
defensive capacity, that the seas far is still being upheld,
and we truly are not seeing any further signs from
both sides that they want to escalate this further or
actually resume full scale military hostilities. And in fact, yesterday
even irgc A spokesperson was saying that the likelihood of
returning back to full all out war was low, but
that they were ready for it if it does happen.
Well, where does this leave things then, when it comes
to the negotiations with the sort of tit for tat
happening near the Strait of Horror moves is the straight
the focal point at this point?
Well, I think the strait and clearing up the Straight
is top of mind, especially for President Trump. He made
lots of comments about it yesterday. You just played a
little bit of a clip he's saying, it's international waters,
the Strait's going to be open to everybody. The US
will watch over it. And this is i think a
response also to some of the language that's coming through
from Iranian media suggesting that Iran once again are insisting
that they have a right to ownership, of a right
to controlling the strait and establishing a new protocol in
the future, even a joint system with Oman, which of
course the President and eyed and rebuked quite quite aggressively
yesterday he even threatened Oman. But that is one of
the issues that they are going to be discussing and
continue to discuss around the framework for progressing on the negotiations.
And the first part of the deals we spoke about
would be the lifting of the blockades around the Strait
of Hormos, an extension of that ceasefire, and then every
opening up of the nuclear file. But how to do
it in a manner whereby the US aren't offering too
many concessions to Iran upfront in the form of lifting
of some of those sanctions and unfreezing assets. So that's
the big question mark.
Now, So what is the bind that the president's in
right now with Iran continuing to insist on, you know,
financial support and pressure in Washington for the President not
to make a bad deal. We have about a minute laught.
Yeah, I mean, that's the thing. And you know they
used to say in Brexit around the time of Brexits
and no deal is better than a bad deal. And
I think in this situation it is obvious that the
president does actually want to go down the path of
a deal. There were many opportunities in the past week
where he could have gone down the military routes. He
hasn't done that. He does say that and describe the
Ranians as being keen to make a deal. And certainly
there's been a big push diplomatically. Cutter are emerging now
as a key mediator. The focus has shifted away from
Pakistan to Kutar. They're working very hard. I think all
golf Arab states have also changed their tune as well.
So there is going to be a big push. But again,
as we've been speaking about, in all likelihoods, we will
probably get a framework for an eventual peace deal, not
a fully fledged, comprehensive piece deal that is going to
be announced on day one.
This is Bloomberg Daybreak, your morning podcast on the stories
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