ICE in Chicago and Trump-Epstein Letter; Traders Await Labor Revisions

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 this morning with the latest noun President
Donald Trump's immigration crackdown, this time in Chicago. Federal agents
are stepping up enforcement in democratic run cities that the
White House says are suffering from ramp and crime and disorder.
The Department of Homeland Security says Operation Midway Blitz has
begun in Chicago and other parts of Illinois, targeting what
the agency calls criminal illegal aliens. President Trump says by
bringing in the military, his administration saved Los Angeles. Now,
he says he wants to straighten out Chicago.
Los Angeles was a mess. If we didn't send our
troops in, Gavin Newscomb, would have had a real problem.
We sent our troops, as the head police officer, the
toperson said, we could have never done this alone. We
sent our troops right in at the beginning, and we
killed it.
And it was nasty, but we killed it.
The President Trump has threatened to send the National Guard
to Chicago, but has yet to do so. Democratic leaders,
including Illinois Governor j B. Pritzker, Chicago Mayor Brandon Johnson,
and Senators Dick Durbin and Tammy Duckworth have attacked the
president's actions and rhetoric.
Meanwhile, Nathan, a major Supreme Court ruling is backing the
president's immigration enforcement efforts. The High Court is allowing federal
agents in Los Angeles to resume tactics that critics say
amount to racial profiling. The court put a federal district
court order on hold that barred immigration and Customs enforcement
agents from questioning and detaining people based solely on their ethnicity, language, occupation,
or presidence at a particular location. Los Angeles Mayor Karen
Bass criticized the ruling.
Let me make this very clear for the press and
to our country that we will not allow the Supreme
Court or anyone to divide us.
And Los Angeles Mayor Karen Bash.
A Supreme Court's decision will apply while the legal fight continues.
Justice Brett Kavanaugh wrote that apparent ethnicity alone cannot furnish
reasonable suspicion, but can be a relevant factor when considered
with other factors, and.
In another Supreme Court ruling, Karen, Chief Justice John Roberts
is allowing President Trump to temporarily oust a Democratic member
of the Federal Trade Commission. It's a signal that the
court is likely to back the president's bid to ascertain
control over the independent agency. Roberts set a deadline of
September fifteenth for Rebecca Kelly Slaughter's lawyers to respond to
the Justice Department's request to keep her out of her job.
While the legal fight plays out.
The Trump administration is asking the Supreme Court to grant
full review and consider overturning a nineteen thirty five president
that let Congress set up independent agencies and shield their
leaders from being fired.
Nathan House.
Democrats are looking to keep political pressure on President and
the Jeffrey Epstein case. The Democrats have released an alleged
birthday note that they say President Trump sent to the
convicted sex offender as part of a book to celebrate
his fiftieth birthday in two thousand and three. The note
includes his sign off quote, may every day be another
wonderful secret, complete with the sketched outline of a woman's body.
The President has denied composing the message or that the
note existed. Bloomberg's Wendy Benjaminson explains some of the arguments
about whether or not the leather is real.
Let's also just remember it to be fair that when
the Epstein victims had that news conference I think it
was last week on the Capitol steps, they did say
they didn't see Donald Trump do anything untoured or inappropriate
when they saw him. But writing the birthday card, it looks,
I mean, everything seems to point to the fact that
Donald Trump did write that.
Bloomberg's Wendy Benjaminson says survivors of sexual abuse by Jeffrey
Epstein or calling on Congress to release all.
Files related to the case.
President Trump sued the Wall Street Journal's reporters, publisher, and
founder after the existence of the letter was initially reported.
In July.
Got some new developments in the Israel Hmas war. Karen
Israel has ordered Gaza City's one million residents to leave
in advance of a major military offensive. Top officials are
vowing devastation unless Iran Bachhamas surrenders. In a post on x,
Israeli Prime Minister Benjamin NATANYAHUO wrote quote, I am taking
this opportunity to say to the residents of Gaza City,
listen to me carefully. You have been warned get out
of there end quote. It's not immediately clear when the
full assault will begin.
Well, Nathan and France President Emmanuel Macron is searching for
a new prime minister for the fifth time in less
than two years, after Francois Beyiru lost a confidence vote
in Parliament. The outgoing premiere is presenting his resignation to
the President this morning after failing to win support for
his deficit cutting plans. Beiru had a mind message for
Parliament yesterday.
Ladies and gentlemen of the Assembly, you have the power
to overturn the government, but you do not have the
power to erase reality. The expenses will continue to increase
even more in the enormity of the debt, which is
already unbearable, will get heavier and heavier and more expensive.
Going French Prime Minister Francois Bayrous, speaking through an interpreter.
Market reaction has been muted as investors expected the downfall
of the government. President mccraln says he'll appoint a new
premier in the coming days.
Well, it's turned to US markets now, Karen.
With the S and P five hundred hovering near record levels,
the trader's focus turns to the labor market and inflation data.
Bloomberg's John Tucker's here with more. Good morning John, and
good morning Nathan.
At ten o'clock Wall Street Time, the Labor Department issues
the benchmark payrolls revision. Now economists expected to show the
March payrolls count was almost eight hundred thousand less than
currently estimated, with some saying that downgrade could be closer
to a million jobs. Lauren Goodwin, New York Life says
a weaker job market is enough of a reason to
move the Fed next week.
There's just enough evidence to the downside on the labor
market that I think an insurance cut in every way
is probably a good idea.
Well, then that's the other side of the Fed's mandate
controlling inflation. Tomorrow, we're going to get the producer price
index that's followed by the consumer price Index on Thursday,
and Bloomberg Economics expense headline CPI to run hot. That
could throw cold water on the idea of a larger
rate cut by the Fed and in turn keep a
lid on stocks.
You know, New York. I'm John Tucker, Bloomberg Radio.
All right, John, thank you, and I not in the
Fed this morning. Whinehouse Economic advisor Stephen Myron's nomination as
a Federaliserve governor has been scheduled for a Senate committee
vote tomorrow. The full Senate is likely to vote on
confirming Myron September fifteenth, just a day before the Federal
Open Market Committee meets. The FOMC meets on September sixteenth
and seventeenth, and is expected to cut rates for the
first time since December on weakening job growth.
Yeah, a lot of focus for investors on the Fed
Karen as well as on Apple, with a very closely
watched product launch expected today. We get the very latest
from Bloomberg's Charlie Pellett.
Apple is expected to introduce its iPhone seventeen lineup, upgraded
versions of the Apple Watch and Vision Pro headset, but
such updates may not be enough to juice growth that
has long trailed peers. Tony Wong is co portfolio managera
t row Price.
I need the market is going to be excited about
something that's news, that's different, and I think that performance
is probleming. What the mark were also look at in
terms of the camera, the battery.
The Apple event, Who's scheduled for one o'clock Wall Street time.
So far this year, Apple stock is down five percent
in New York Charlie Pellett Bloomberg Radio, all.
Right, Charlie, thank you, and in the pre market, Apple
shares her down about another quarter percent.
And finally, Nathan Rupert Murdoch and his children resolved a
family feud with a settlement that gives Lachlan Murdoch broad
control of the media empire. Lachlan will become the sole
beneficiary of the trust and controls Fox Corp.
And News Corp.
While Prudence, Elizabeth and James will see their stake and
receive one point one billion dollars each.
Time.
Now for a look at some of the other stories
making news in New York and around the world. For
that were joined by Bloomberg's Michael Barr Michael, Good Morning.
Good Morning Care, and a rough start to the federal
trial of the man accused of attempting to kill President
Trump during his campaign for reelection last year. Fifty nine
year old Ryan Ruth from North Carolina is representing himself
as Jerry's selection begins, and some of Ruth's requests have
been unusual. According to court filings. Ruth had asked to
compete for his life in a round of golf with
the President instead of going to trial. At times, while
Ruth questioned jurors, Judge Aileen Kennon cut him off and
reminded him.
To follow the court's rules.
President Trump said he created a Department of Justice task
force to eradicate anti Christian bias.
There is a tremendous anti Christian bias. We don't hear
about it. We don't think about it. Do you hear
about anti Semitic? But you don't hear about anti Christian.
You have a strong anti Christian bias. But we're ending
then rapidly, I will tell you.
President Trump delivered remarks to the White House Religious Liberty
Commission and Immigration attorney says many South Korean workers detained
in an ice ray at a Hyundai plan in Georgia.
We're brought in for highly specialized work that Americans aren't
trained to perform. He represents four South Koreans who were
among four hundred and seventy five workers rounded up in
the raid last week west of Samanna. They include three
hundred North Korean nationals South Korean nationals, and are said
to have come for short term jobs. Installing equipment for
producing electric vehicle batteries for our listeners on ninety two
nine FM in Bostonminary election Day. Voters will cast ballots
today to narrow the field for mayoral and city council
races ahead of the November fourth general election. Mayor Michelle
bou the incumbent, enters the preliminary with a huge lead
in the polls. In New York City, late polls showed
Democrat Zoron Mamdani holds a big lead in the mayoral
race that includes over former Governor Andrew Cuomo and current mayor.
Air academs and encouraging development and organ transplants could eventually
shorten some patients wait for donor organs. Doctors at Mass
General in Boston say they have successfully performed three separate
transplants of pig kidneys into humans and now the FDA
is giving the green light for a clinical trial. Doctor
Leonardo Riella, we.
Know the best treatment for these patients, but we are
stuck because of the organ shortage.
Global news twenty four hours a day and whenever you
want it with the Bloomberg News.
Now, I'm Michael Barron, this is Bloomberg.
Karen.
Thanks Michael, I'm now for our Bloomberg Sports update, and
for that we bring in John stashauerd.
Thanks Karen Buther Night Football.
The wrap up Week one an NFC North game in Chicago,
and the Bears got a seventy six yard pick six
in the third quarter, took a seventeen to six lead
in the fourth quarter when the Vikings came alive under
their new quarterback JJ McCarthy. Two TV passes then a
touchdown run in a nine and a half minute stretch
Minnesota one, twenty seven to twenty four. The Phillies shut
out the Mets one nothing. They're dealing with injuries. Their
shortstop Trade Turner has a hamstring strain, third baseman alec
Bone a shoulder injury. They both may miss the rest
of the regular season. That's a Bloomberg Sports update.
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 Out. This is Bloomberg day Break.
Good morning on Nathan Hager.
The Trump Administration's immigration crackdown appears to have he' ad
to Chicago with the Department of Homeland Security launching what
they're calling Operation Midway Blitz, and DHS Secretary Christi Nomes
says the Windy City won't be the end of it.
We can run as.
Many operations every single day as we need to to
keep America safe.
So nothing's on bold. Everything is full speed ahead.
That was Homeland Security Secretary Christi Nomes speaking with reporters
in the United Kingdom. For more, we're joined by Terry Haines,
founder of Pangaea Policy, to talk politics this morning.
Terry, good morning.
There seems to be little doubt that the president sees
immigration as a winning issue for him.
How do you see it? Good morning, Good morning.
Certainly a winning issue for him politically. It's one of
the main planks upon which he ran for election and
he won. People buy and large. It's one of these
so called eighty twenty issues that people talk about where
eighty percent of the public back him. But I'm not
talking about that literally, just you know, it's kind of
vast majorities, you know, and substantively people want the law
to be enforced. There's a there's a growing sense that
there's an increase in lawlessness, number one and number two.
I think under under underpinning a lot of this is
the idea that, uh, you know, the country's benefits ought
to be enjoyed first and foremost by by the citizens
of the country. And uh and that we need to
uh to rein in immigration a sentiment which is, you know,
beyond the United States, it's sweeping the West.
Frankly, well, when you see crackdowns like what happened in Georgia,
the Hyundai Plan, hundreds of South Korean immigrants detained, does
that undercut the President's you know, overriding concern that you know,
cracking down and immigration will lead to manufacturing boom made
in the USA.
Well, there's there a couple of things going on. One
is the you know, the people. I think people want
the law enforced, and they substantively they want they want
immigration control number one, nonumber two. There's a how question.
The how is uh is I think much less popular,
much more divisive, and uh and there's and there's a
lack of understanding on top of that that, uh, you know,
kind of how immigration fits into the broader the broader workforce.
And you know, these these are concerns that aren't going
to be solved in a day. But you can certainly
see them represented in the polls of the two political parties.
Just thirty seconds left Terry. But Democrats have been saying that,
you know, violent crime is down statistically, Why is that
not working for them?
It's it's down because you know there's a there's a
you know you can see it with your own eyes question.
Uh And the latest cost a lab of many is
this uh uh Ukrainian immigrant who was murdered on the
bus with the with video of course, So uh, there's
that number one. Number two. There has been high crime.
So the idea that there's there's there's a small downturn
doesn't help the argument for Democrats.
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