Iran Says No Progress in US Talks, Knicks Take NBA Finals Game 1

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 from the Middle East.
Israel and Lebanon have agreed to a cease fire if
Hezbola stops fighting. That has emerged as a key condition
for Iran, and it's nearly two months truce with the US.
Israel's US ambassador Leechiel Leiter says, this is an unprecedented agreement.
We brought the people of Lebanon to the understanding that
we're not the enemy Gizballes, and now we're going to
work together to rid the country of this Iranian proxy
on Israel's border.
Israeli ambassador Yehiel Leiter spoke after the negotiations in Washington.
Bloombergs of Birabu Omar has more from.
Dubai Asbella has not given an answer yet to this.
It could very well stop those hostilities and that could
you will again answer the last sticking point between Iran
and the United States. Were reported earlier this week that
Iran's sticking point of Lebanon particularly had hindered the progress
of negotiations between Israel, the US, and Iran.
Bomberg Sabirabo Omar reporting from Dubai. Meantime, clashes did continue
overnight in southern Lebanon. Iran's foreign minister Abbas Arakchi says meanwhile,
there's been no recent progress in peace deal talks with
the US. That's according to a report from Iran's semi
official Cosdam News agency.
Back in Washington, Nathan, President Trump's war effort has taken.
Up political below.
The Republican led House has approved a resolution to stop
the war.
On this boat.
The a's are two hundred and fifteen of the days
were two hundred and eight.
The concurrent resolution is adopted.
Four Republicans joined with every Democrat president to pass the
war powers resolution. Democratic Senator jan Shaheen says she hopes
this sends a message to the president.
Howson Senate have both passed resolutions on the war in
Iran with majorities that say the President needs to rethink
his policy on Iran and needs to come to Congress.
A new Hampshire Democrat, Jan Jaheen, appeared on Bloomberg's Balance
of Power. This was the fourth time this year that
Democrats forced a vote on the war and the first
time they got enough support from Republicans to pass it.
Karen.
They're still counting the votes in the California governor's race,
more than twenty four hours after the polls closed. With
fifty eight percent of precinct reporting, Republican Steve Hilton is
maintaining a lead with twenty seven point six percent of
the vote. He's followed by Democrat Javier Bserra with twenty
five point six percent, Fellow Democrat Tom Steyers holding on
in third with nineteen point eight percent. The top two
finishers go on to the general election, regardless of party.
In Los Angeles Nathan, where voters also wih in on mayor,
early results suggested a runoff between Democratic incumbent Karen Bass
and reality TV star Spencer Pratt, a registered Republican party.
His heavy reliance sun mail in ballots means a final
result could be days away. According to the Associated Press,
with sixty three percent of the votes counted, Bass holds
the lead with roughly thirty five percent of votes, followed
by Pratt with about thirty percent and city council member
Nitty ah Raman at twenty two percent. If no candidate
surpasses fifty percent of the vote, the top two finishers
will advance to a runoff.
Well, let's move from California to New York, Karen, where
Knicks fans are celebrating a comeback win in Game one
of the NBA Finals in Bloomberg's John stashires here with
more on the game to remember in San Antonio, John.
All right, Nathan the Next trailed the Spurs by fourteen
in the second half, and they rallied back, led by
their captain Brutson.
Keeps it alive.
Bridges looks back to Brunson. Quarter three US up time,
Joylen Brutsen from downtown.
Well next check out two point late.
Let me go on ABC. Nixt scored the last eleven
points of the game, and they won one oh five
to ninety five runs and scored thirty points. The Knicks
haven't lost in six weeks, twelve wins in a row,
seventh straight on the road, all in double figures. It's
the next first win in an NBA Finals Game one
in fifty three years. Will John stash Away Bloomberg Radio, all.
Right, John, thank you. We turned out to the markets
for the nine day winning streak for stocks is over
the s and P five hundred fell from our record
and closed down three quarters of a percent. Goldman Sax
CEO David Solomon says investors have a lot to digest.
We have a lot of things going on in the macro,
with the war, with the oil shock, supply chains, inflation
getting stickier, that are going to have an effect, and
you know, the market may absorb all that differently than
it's absorbing it at the moment. At the moment, it's
kind of brushing it aside.
And Goldman Sax CEO David Solomon made the comments on
the latest edition of the Bloomberg Odd Lots podcast. Get
the full conversation on Apple, Spotify or anywhere else you download,
and also on our new video hub on the Bloomberg
Business app.
Well, Karen Nasdaq futures are leading declines this morning, and
Broadcom is helping fuel the losses. That stock is down
more than thirteen percent in early trading. The company delivered
a disappointing forecast for artificial intelligence chip revenue. Gil Luria
is head of technology research at DA Davidson.
This company has a big role in the growth of AI.
It's just expectations were well beyond what consensus estimates were,
and so a small bee just wasn't enough to keep
the stock where it's at. And again it's trading at
a premium ten Video and Videos trading in the low
twenties on next twelve months earnings, Broadcoms trading in the
thirties on next twelve months earnings.
DA Davidson's Giloria notes that shares of Broadcom were already
up almost forty percent this year.
Another tech high flyer, Nathan, also pulling back This morning.
Shares of CrowdStrike down eleven percent. The cybersecurity firm second
quarter revenue forecast failed to impress investors who had been
up the stock in recent months. The stock was up
almost sixty percent this year ahead of earnings. Well.
Speaking of high flyers, Karen space X is closing in
on the biggest IPO of all time. Bloomberg's John Tucker
joins us with the very latest John and Nate.
According to its latest filing, Elon Musk's SpaceX plans to
market about five hundred and fifty five point six million
shares for one hundred and thirty five dollars each. That's
seventy five billion dollars and at that price the company
would be worth one point seven seven trillion dollars. The
share sale now sent for June eleventh. Alex Morris at
FM Investments expressed some concerns about the IPO.
There's some knock on effects.
I do have some worries about elsewhere in the AI
supply chain.
If they take all the oxygen away from everybody else.
Well, the SpaceX offering should clear the path for other
mega IPOs from Open AI and Anthropic. Most decision to
offer shares at a fixed price ahead of the order
taking almost unheard of for sizeable usipos. SpaceX would be
bigger than all but six of the companies in the
S and P five hundred. I'm John Tucker, Bloomberg Radio.
All right, John, thank you. SpaceX's initial public offering will
likely make President Trump's a wealthy administration even richer. Ten officials,
ranging from Special Envoys Steve Whitcoff to Small Business Administration
had Kelly Leffler, reported financial interests in Elon Musk Rocket
Company or his artificial intelligence firm XAI. In total, the
federal staffers held SpaceX or XAI stock worth at least
nine point nine million dollars in as much as forty
three point eight million, according to the disclosures.
Well Karen JP Morgan Chase CEO Jamie Diamond plans to
discuss SpaceX's upcoming debut with thousands of the bank's high
net worth clients. Steimond will host a live interactive discussion
later today from JP Morgan's headquarters. That's according to invitations
seen by Bloomberg.
Well Staying on Wall Street, Nathan Bank of America CEO
Brian moynihan is talking about the affordability issue in America.
On moynihan spoke with The Bloomberg's Danny Berger at the
Forbes Summit in New York.
Affordability is a real issue, but the fundamentally change affordability.
We have to build more housing so that there's the
supply pressure, bring the prices down affordability. Gas price is
at four dollars and fifty cents above. We've been there before,
so it is affordable.
It's just not pleasant.
You can catch our entire interview with Bank of America
CEO Brian Monahan on the Bloomberg Business app and on
Bloomberg dot Com. 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 Karen. A burial team was attacked and eleven
of Bola patients fled isolation facilities in Eastern Democratic Republic
of Congo as the outbreak spread to another health zone
in a toury. However, the director of the World Health
Organization says the response is catching up. Tedros anonam Gabriees
has listed some challenges that remain, like scaling up testing
and cutting back on delays in confirming cases.
The number of suspected cases has now been reduced to
one hundred sixteen from over one thousand last week as
we worked through the bucklog either confirming them or ruling
them out.
Meanwhile, Kenya's health secretary says they will continue to work
on an isolation and treatment unit at an airbase in
the East African nation that can be used to house
US servicemen exposed to the Ebola virus. Homeland Security Secretary
Mark Wayne Mullen was questioned by the House Homeland Security
Committee on ice Enforcement operations the current tensions at Delaney
Hall in New Jersey came up. Protesters claim inhumane conditions
inside the facility. Mullen claimed the protesters have been hostile
toward his.
Agents Delaney Hall.
I've had officer's bit hit scratched.
We had one get threatened.
They were going to kill him and his family as peaceful.
Delaney Hall, run by a private company, is being sued
by New Jersey over conditions at the Newark facility. Incumbent
New Jersey Congressman Tom Kane Junior has missed a slew
of vote since March fifth, over what House Republicans say
is a medical issue. House Speaker Mike Johnson says Cain
told him what the issue was and a private phone call.
Johnson says he needs a little longer to recover. Cain,
who ran unopposed in Tuesday's primary, will face Democrat Rebecca Bennett.
In November, there were watch parties across New York City
as the next one game one of the NBA Finals
against the Spurs in San Antonio, there was one giant
watch party outside of the next home at Madison Square Garden.
It's different being here, Miss We're better than watching a
game by yourself at home like this.
This is a Vibe.
It's a represented for new more on the game in
sports with John stash Hour in moments, global news twenty
four hours a day and whenever you want it with
the Bloomberg News Now Michael Barr and this is Bloomberg Karen.
All right, Michael Barr, thank you, and it is time
now for the Bloomberg Sports updating. We get more with
John stash Hour, John, good morning you everyone to care.
In the NBA finalds opener was a game of runs.
The Spurs a twenty to three run and the first
time they went from down seven to up ten. They
built the lead to fourteen, and the Knicks then led
by eight with five minutes to play, but with less
than two minutes ago San Antonio backup.
I won.
That's when the Knicks scored the last eleven one game
won one oh five to ninety five. The eleven nothing run,
six free throws in two huge oops by Jalen bruns And,
who scored thirty points and nicked coaches.
Mike browt he he was the MDP in the second half.
He was huge for us. He did what MVP candidates
are supposed to do. He carried us home. We put
the ball in his hands and he got it done
for us down the stretch. But a good win. We
have to keep taking it one game at a time
and stay present and see what happens.
So now twelve playoff wins in a row. They won
the opener in the last round when they trailed by
twenty two, this time from fourteen down. Josh Hart asked
about the comebacks.
Everybody in his locker room has had adversity, you know,
and they wouldn't be here if they did it, and
they wouldn't be here if they didn't make it. Food
at adversity. So whenever we're down, we don't panic. Andy,
continue to play our brand of basketball, and you know
that's always you know, that's cool.
Hard had fifteen rebounds. Nicks held the Spurs to thirty
six percent shooting, Victor wembin Yama just six of twenty one.
Game two tomorrow night at the Stadium, the Yankees, again
without the injured Aaron Judge, again lost to Cleveland Guardians
at three home runs up Garrett Cole and won five
to four. Yanks day a gee behind Sampa Bay, who
since winning twenty two of twenty six, has lost eight
of ten. Mets had fourteen hits and a seven to
one win at Seattle National. Has lost at third straight
to Miami four to one. The Red Sox over Baltimore
eight to one. Women's semifinals today at the French Open.
With all the upsets, eight seeded Miro Andreva, the highest
seeded player, left Diana Schneider back playing the day after
her upset of top seed Arena Stable Night because she
was one game from losing. Won the last ten games.
John Stashie I went at Bloomberg Sports.
Can you stay with us more from Bloomberg day Break
coming up after this.
Coast to coast on Bloomberg Radio nationwide on Serious Exam.
And around the world on Bloomberg dot Com and the
Bloomberg Business app.
This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Iron
peace effort seemed to be running through Israel and Lebanon
this morning. The US says both those countries have agreed
to a ceasefire if Iron backed hes Bula stops fighting.
But President Trump says anything can happen.
And I'd say you that.
Part of the world cease fires when you're shooting in
a more moderate.
Better I was President Trump speaking from the Oval Office.
We're joined this morning for more by Mark Champion, who
covers the Middle East for Bloomberg Opinion. Mark, great to
speak with you once again. It is a pretty big
if if Hesbola stops fighting, isn't it good morning?
Good morning? Yes, absolutely. I mean this is in a sense,
this is a it's a good uh, it's it's a
good step, you know. So what you want in Lebanon
is for uh, the Lebanese government to be making these
kinds of decisions to be filling the vacuum as Hezbollah
is removed, and so it's it's it's a good framework.
But there's a huge question as to whether Hesbola would
want to do that. You know, this war they were
very much on the back foot before February when the
US and Israel attacked Iran. They have been badly damaged
and they were looking quite weak politically within Lebanon. The
war has actually you know, given them more strength. They've
started using FPV drones that are creating problems for the
Israeli military. So whether or whether they would want to
kind of step back as a question whether the Iranian
is going to press them to step back equally, a question.
So we just have to wait and see.
We've been watching headlines just this morning that fighting seems
to be continuing in southern Lebanon between Israel and Hezbola
as well.
Well.
How important is this for Iran when it comes to
their peace talk track.
With the US?
Very very important.
I mean, the Uranians have made clear throughout that they
believe they're in a position where they can make demands,
and one of the demand's key demands they have is
that other theaters where their proxies are in conflict with
Israel will be included in any peace deal. So, in
other words, if they're going to agree to a peace deal,
Israel will have to agree to, you know, cease fire
in Lebanon. They've been less you know, adamant about Gaza,
but that they've also mentioned in Gaza at various times
as another front where they want to see a ceasefire.
So the question for the Uranians is how badly do
they want to deal and how you know, willing are
they to carry on the conflict with the US to
key the home moves straight closed on their side and
the US side, which hurts you, we're on you know,
in order to get a kind of full cease fire
in eleven on on terms that they want.
This is Bloomberg Daybreak, your morning podcast on the stories
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And I'm Nathan Hager. Join us again tomorrow morning for
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