US-Iran Talks Stall; Senate Passes Bill to Fund ICE and CBP

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.
The US and Iran are showing little signs of progress
in ceasefire talks after one of the worst bursts of
violence in the region in weeks. President Trump says negotiations
are in the final stages, but Iran's foreign minister says
there's been no tangible progress. The President says time is
on his side when you look.
At hundreds of thousands of soldiers were killed in these
various wars. They lasted many, many years. We're in there
for a few months, and what we've done is amazing.
President Trump spoke from the Oval Office. Meanwhile, Iran backed
Hezbola has rejected a US broker ceasefire in Lebanon. Bloomberg'sabir
abu Omar reports that's adding further complication to the peace process.
The hostilities between Israel and Hezbollah continue within the southern
part to Lebanon, but also the northern parts in Israel.
President Trump, on the other hand, has said that he
did not see the rejection from Hezbollah, and as a
matter of fact, he's been in touch with representatives who
told the president that they wanted to have the cease fire.
Blomberg Sabira ba Omar reports Israeli strikes in Lebanon have
killed at least eight people, according to the Lebanese Health Ministry.
Israel says Hesbilla fired several rockets at its soldiers, but
no one was hurt.
We have breaking news on Capitol Hill this morning. Nathan
the Senator has passed a sixty nine and a half
billion dollar bill that gives more than three years of
funding to two immigration enforcement agencies. The measure passed fifty
two to forty seven after a marathon vote that saw
Democrats try to corner Republicans on politically tricky amendment votes.
The bill passed the Senate after weeks and negotiations over
funding for the Secret Service to secure President Trump's ballroom.
That money was ultimately dropped from the package, but drew
rebuke from seven Republican senators. Republicans also stripped out funds
for the Justice to Artment that got bogged down by
concerns about a now defunct fund to compensate victims of
alleged politically motivated prosecution.
Als Roun Capitol hillcreen. The House has approved a new
round of aid to Ukraine and sanctions on Russia, in
a backhanded rebuke of President Trump's foreign policy.
The eyes are two hundred and twenty six, the nays
are one hundred and ninety five. The bill is passed
without objection.
The motion reconsider is laid upon the table.
House Democrats forced to vote on the package through what's
known as a discharge petition. That's a procedural tool that
Republican leaders oppose. President Trump's raised questions about the cost
of assisting Ukraine in its defense against Russia's invasion. That's
put him at odds with moderate Republicans who signed the
petition and joined with Democrats in advancing the bill.
Meanwhile, Nathan Ukrainian President Vladimir Zelenski is proposing direct peace
talks with Russian leader of Vladimir Putin in an effort
to end the war. He did so in a rare
and combative open letter. Ben Sills is Bloomberg's managing editor
for European Politics and Economy.
Not a letter which is going to persuade Putin to
come to the negotiating table. The tone of it is
so incredibly assertive. I read it last night when it dropped,
and I was really quite struck by just how self
confident Zelensky sounds, and how he's talking down to Putin.
He's talking about how his drones hit St.
Petersburg yesterday, the day before Putin turns up. He's threatening
to hit other Russian targets deep inside Russia. He's saying
that he knows Putin is afraid of Ukraine's military potential,
So that's no way to bring the negotiating table.
And Bloomberg's Ben sil says Zelenski is proposing a face
to face meeting in a neutral country. A Russian spokesman says,
if Zelenski wants to meet Putin, he can come to Moscow.
Well.
Turning back to Washington, now, Karen Federal Housing Finance Agency
Director Bill Poulti has been named acting Director of National Intelligence,
but President Trump says that appointment will be temporary. Bloomberg
Zamy Morris reports from the nation's capital.
President Trump says FAJFA Bill Poulty will not become the
permanent Director of National Intelligence.
He's not going to be permanent because you know, I
don't think he'd want to be permanent. But he's a
very smart guy, and he may find OUs some things
about the rigged elections, et cetera, et cetera. But it's
somebody just to take it over for a little while.
President Trump says they're interviewing people for that permanent position
in Washington. Amy Morris, Bloomberg Radio.
All right, Amy, thank you. He turned to the markets
for the S and P five hundred's historic weekly run
agains is in jeopardy right now. The AI euphoria is
fading as tech shares lead equity future is lower. Slide
today would mean the S and P five hundred misses
out on a tenth week of gains, which would have
been the longest such streak since nineteen eighty five. In Asia,
South Korea's cosby the world's best performing engage this year,
and a bell weather for AI investments dropped five and
a half percent.
Well this morning, Karen, Investors are awaiting the jobs report
for the month of May. It's expected to show an
increase of eighty nine thousand non farm payrolls and an
unchanged employment rate of four point three percent. San Francisco
Fed President Mary Daily says there's too much uncertainty in
the economy to offer a view on rare rates are headed.
We spoke to Daily at the Bloomberg Tech Conference in
San Francisco.
We are prepared to respond either way whatever the economy brings,
but I think giving more forward guidance about what's possible
could be misguiding in the end, because we just have
to wait for the economy to evolve. Everybody wants to
resolve the uncertainty today, but I think that's a mistake
because it will close off our mind about what we
really have to look at.
You catch our full interview with Mary Daily and others
from the Bloomberg Tech Conference in San Francisco on the
Bloomberg Business app and at Bloomberg dot com.
Well, Nathan, The roadshow continues as we're just days away
from the mega IPO of SpaceX, and Bloomberg's John Tucker
joins us with the latest. John, Good morning, Karen.
SpaceX set out it's IPO launch with a flashy video,
short on detail at heavy on Elon Musk's vision for
the future. Investors ate it up. Ron Barron has head
of Baron Capital Management.
Well right now, we own almost twenty billion dollars of SpaceX,
and we're buying another billion. I think we're going to
make a lot of money for our clients and ourselves.
The investors emerging for the marketing event at JP Morgan's
imposing headquarters on Park Avenue called it an epic event.
The head of aon Capitol said SpaceX will be the
most iconic company in human civilization. Mus spoke to his
host Jamie Diamond about space travel vacations on the Moon
and a Mars colony back on Earth. Some research analysts
or are telling would be buyers their models show one
hundred times revenue growth for SpaceX's AI division by the
end of the decade. That's to help justify the target
evaluation of one point eight trillion dollars for investors emerging
from the event, those numbers sounded entirely justified the share
sales sent for next week in New York. I'm John
Tucker Bloomberg Radio.
Well, John, don't expect SpaceX to join the S and
P five hundred anytime soon. SMP down Jones Indicy says
it will not shorten its twelve month seasoning period for
newly public companies or waving existing profitability and public float
requirements based on a company's size. The decision means firms
like SpaceX would not be eligible for inclusion in the
S and P five hundred until at least one year
after listing, and would also need to satisfy the index's
existing requirements for profitability and public float.
Kan Nvidia has certified the three biggest memory chip makers
to supply their most advanced high bandwidth products for its
AI accelerators, their Samsung x k Heinins and Micron in
Video CEO Jensen Wong spoke earlier in Seoul.
We are going to use a lot of high speed memory,
and of course memory is constrained, and so we have
to be smart about using it in all of our systems,
and so we'll con in to work with our partners
here to make sure that we support as much supply
as possible, but use the supply as smartly as possible.
In Vidia CEO Jensen Wong, we'll have dinner with some
of Korea's top business leaders Tony He plans to attend
a baseball game over the weekend time now for look
at their 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. They are still counting
the votes from Tuesday's primary in the California governor's race,
with an estimated sixty percent in Republican Steve Hilton still
leads with twenty seven point two percent. Democrat javieerb Sera
is second with twenty six percent of the vote. Fellow
Democrat Tom Steyer is third with twenty point two percent.
Under California rules, the top two finishers advanced from the primary,
regardless of party affiliation. President Donald Trump criticized California's ballot counting,
accusing state Democrats of big cheating. As the vote count continues,
I hope.
The media looks at this selection of the saking place
in California, where they think it'll take seven or eight
days to count the votes. Can you believe us? I mean,
they spend all that money on the on the machines,
the big voting machines.
President Trump didn't and evidence on his claims. The latest
strain of the Ebola virus continues to spread in Congo.
At least sixty two people are dead from three hundred
and sixty three confirmed cases. However, who officials have worn
the numbers might not reflect the true scale of the epidemic.
On top of the knicks in the NBA Finals, Mayor
Zorin Mamdanie and Governor Kathy Hokel say New York City
is ready to host Soccer's World Cup. The city is
taking measures to accommodate the expected surge and visitors, including
running additional subway trains and restricting traffic in certain areas
on match days. Governor Hokele, we.
Can handle this.
We've got this.
This is what we do best.
And for those who are saying, you know, stay home
from work kind of no, come to the city celebrate.
Otherwise you're missing the excitement.
And the energy.
Mayor Ben Donnie, we are ready for this moment because
we are in New York. We know, as the Governor said,
how to put on big events, from the Macy's Thanksgiving
Day Parade to the NBA Finals. Let's go next to
the UN General Assembly. We have done it before and
we will do it again.
Officials are asking the public to be patient with crowd,
security lines, and traffic. Meanwhile, Mayor mem Nani says he
will be at Game three of the Knicks at Madison
Square Gardener along with President Trump, who says that he
was planning to attend Monday Night Global News twenty four
hours a day and whenever you want it with the
Bloomberg News.
Now.
I'm Michael Barr, and this is Bloomberg Karen.
Well, thanks Michael.
A time now for our Bloomberg Sports update, and for
that we bring in John stash Hour.
Thanks Darren.
Are back to forth Denley Cup Final Game two in Raleigh, Carolina.
Roulling to take the lead, Vegas scored lated regulation to
force overtime. The Hurricane score they won four to three.
In the series is tied a one. The NIXT bring
their twelve game playoff winning streak into Game two of
the NBA Finals tonight in San Antonio, looking to go
home with the two nothing series lead. Men's Semifinals at
the French Open, alex Zaverro takes on Jaco Mensik and
then a battle of Italians with Tria, Matteo Arnaldi and
Flabio Kobali. That to Bloomberg's worth fifty.
Stay with us.
More from Bloomberg Daybreak 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 US and Iran may be in
a holding pattern now close to two months into their
ceasefire that has seen some of its heaviest tests this week.
But President Trump is urging patients, We're.
Going to win on paper or we're going to win military.
One way or the other. It's going to be militarily
or on paper.
Well, that was President Trump speaking to reporters in the
Oval Office. Joining us this morning from Dubai is Bloomberg
Middle East correspondent to Birabu omar Abir. Where do things
stand this morning?
Good morning, Good morning, Nathan. So look, the latest from
overnight is has Bulah, that is the militia that is
backed by Iran in southern Lebanon as rejected the deal
that was reached between Libanese officials and Israeli counterparts in
Washington earlier this week. Now from the get go, Hasbella
refused to take an active part in those negotiations. It's
chief this morning nine class ims, saying that the deal
was absurd, and he does not acknowledge it as long
as Israel continues its attacks against southern Lebanon. Now, we've
reported earlier this week now that Israel has its deepest
incursion in Lebanon since twenty that's twenty five years almost
Nathan and so Hesbela refuses to acknowledge the deal that
happened between the Libanese government and Israeli counterparts. On the
other hand, you've got President Trump saying that the talks
to reach an MoU that has been what we've been
calling it, which is the interim deal to sort of
reopen the strait of her moves and then extend the
ceasefire we're talking about for about sixty days to then
talk about other concessions. He says that this MOLU is
in final stages, that he's talking to Hezbalah representatives who
actually have accepted the deal. But then you get the
Iranian side, and Foreign Minister Abbasara actually said, actually talks
have stalled and there's no tangible progress in them. Now,
Iran has made Lebanon an important sticking point to its concessions.
That's on top of its enriched uranium, on top of
the frozen assets twelve billion dollars of those, and oil sanctions.
So those are the sticking points that we know about
Lebanon emerging over the past couple of weeks. As one
important one, Iran saying that if hostilities in Lebanon continue
by Israel, the deal is not going to go through
and negotiations are not going to go through. Meanwhile, we're
seeing firing across the region. Earlier this week we saw
attacks against Kuwait, where Kuwait reported one person was killed
in its airport, several others injured. It actually halted flights
as well because of some significant damage to the infrastructure there.
So we're seeing a pickup in hostilities since the ceasefire
was reached in early April. The talks not going anywhere
for now, unlike what President Trump has been suggesting. And meanwhile,
the strait of her moves remains effectively shut. Oil price
is not really knowing what to do with all this
back and forth, so you're not seeing Brent ticking up
in a tremendous way as it would have at the
start of this war.
Nathan just thirty seconds left here of beer. But what
potentially breaks the logjam is the status of Lebanon the
central focal point now.
Short answer, yes, Lebanon. Lebanese officials and Iranian officials have
asked for hostilities in Lebanon to seize, and that would
bring them back to the table. That's on top of
the other concessions that we've spoken about. But we understand
that a deal on those other concessions could be reached
or some understanding on them could be reached after the
MoU Is signed. Essentially, Iran says no Mlu signing unless
the attacks against Lebanon stock.
This is Bloomberg Daybreak, your morning podcast on the stories
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Ray