US, Iran Halt War; Global Stocks Surge on Deal

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 breakthrough in the Middle East.
After weeks of negotiations, threats, and counter threats, the US
and Iran now say they have reached an interim deal
to put more than three months of war on hold.
US Ambassador to the United Nations Mike Waltz says the
deal will not provide immediate sanctions relief to Iran.
This is going to be in terms of any unfrozen
assets or sanctions relief, what's called pay for performance.
There will not be upfront cash.
So to speak that we saw in the Obama deal
and the JCPOA with literally palets of cash because the
Iranian banking system was dysfunctional being flown in.
You and Ambassador Mike Waltz appeared on ABC's This Week
Heard Sundays on Bloomberg Radio. Bloomberg Middle East correspondent Abira
bo Walmar reports the details of the agreement still have
not been released.
What we know so far is that the deal right
now will ensue the reopening the immediate tree opening of
the Strait of Vermuz, where at tankers can go back
to their movement. Now there are some caveats there. And
the other thing is that sixty days of an extended
ceasefire will ensue afterwards, where both sides will take part
in technical negotiations about mainly the state of Iran's nuclear program.
Bloomberg's a birabo Olmar reports President Trump pushed for the
deal by his eightieth birthday yesterday. Both sides now planned
to sign it this Friday in Switzerland. Iran says it
will release the text of the agreement then, and even
as he celebrated the deal, President Trump told The New
York Times he could restart military attacks if Iran does
not reach an agreement on its nuclear program on nie In.
One factor that could complicate the deal is Israel Prime
Minister Benjamin Etnahu's government launched new attacks on Lebanon yesday,
hours before the agreement was announced. This morning, Israel's Defense
Minister Israel cat says Israeli forces or a main in
security zones in Lebanon, Syria and Gaza for as long
as necessary. Well. National Security Minister at Amar Ben Gavier
posted on ex that Israel is not found by the
US around deal, and Finance Minister Benzils Mootrich added his
own ex post saying the deal is quote bad for
Israel and for the entire free world.
All right now, Karen, we are seeing positive reaction in
equity markets to the US Eron agreement, and in Europe,
the Stocks fifty is up one point three percent. US
futures are in rally mode as well, led by Nasdaq
futures up two point one percent. S and P futures
are one point three percent higher, and Dow futures have
a one percent gain.
And as expected, Nathan Oil is dropping on the latest developments.
Right now, NIMEX screwed oil is down five point six
percent at eighty dollars sixteen cents a barrel. Brent is
down more than five percent at eighty two dollars eighty
five cents. However, analyst, you're warning it could take months
to fully restore oil and gas flows on the straight
of horror moves. They say, Adia will ease the risk
to supply and continued upward pressure on prices, but rebuilding
confidence among shipowners, insurers and refiners will take longer.
And now President Trump Karen is on his way to
the G seven meeting in France, and he's reportedly threatening
France with one hundred percent wine tariffs. President told The
New York Post he'd have no choice if France doesn't
drop its digital tax on US tech companies. Bloomberg's Ben
Sill says this puts French President Emmanuel Macron in a
difficult position.
Having Trump come out attacking the French taxes at this
point is going to be a real bump in the
road for Macron. He is due to have byla with
Trump at five o'clock after in our time, shortly after
Trump arrives in av M, so we'll get a sense
of how much trouble That's can cause pretty quickly, I think.
In Bloomberg's Ben Sol's notes, mccron's invited a group of
technology executives, including Open AI's Sam Altman, to a lunch
on the summit's final day.
Nathan, there's a crackdown on social media in Europe. Britain
is banning people under sixteen from using a range of
social media apps. And we go to London and get
the latest with the Bloomberg James Wilcock, James, good morning.
Good morning Karen and Nathan. I'm not prepared to compromise
on children's happiness or safety. Those are the words a
Prime Minister Kirstarmer as he announces new rules due to
coming to force next year that will stop under sixteen
from accessing social media and a number of other gaming platforms.
It marks the start of a crunch week for the
Prime Minister. He heads to a potentially embarrassing G seven
summit after his defense sieve to quit last week, and
his leadership rival Andy Burnham could enter Parliament later this
week if he wins a vote in Northwest England. In London,
James Wilcock Blue Nogradia.
James thanks back.
Here.
In the US, the countdown is underway for the parade
for the NBA champion New York Knicks and the celebrations
expected to draw millions. Bloomberg's Alexis Christophers is in New
York with the very latest Alexis Well Nathan.
City officials say it could be the largest turnout for
a parade in Big Apple history. Millions of Nick fans
are expected to line the parade route Thursday morning to
cheer on their beloved championship team. In the once in
a lifetime experience. The ticker Tay Parade's going to kick
off at ten am Wall Street time and run from
Battery Park North one mile up the Canyon of Heroes
to City Hall, where Mayor Mom Donnie will host a
celebration fit for champions.
It is a chance for this entire city to celebrate
this team that has given us so much.
We're going to have a ceremony at City Hall.
We're going to be presenting our administration's first keys to
the City to the team.
It will be the first Knicks ticker tape parade in
franchise history. During the team's nineteen seventy and seventy three
championship wins, then Mayor John Lindsay suspended the city's shorts
parade tradition. If you plan on attending, city officials recommend
showing up hours before that ten am start time. No
word on whether the celebration at City Hall will require
tickets or how they'll be distributed. From New York Knicks
Nation Alexis Christophers Bloomberg Radio, all.
Right, Alexis, thank you, Let's turn to the economy now
or a new FED Chairman Kevin Walsh will host his
first policy meeting this week. Worsh is facing a difficult
test as inflation wars bank at the fastest pace in
three years. Ira Jersey is chief US interest strategist for
Bloomberg Intelligence.
I do think that he's in a little bit of
a known situation because it's going to be very difficult
for the Federal Reserve to produce interest rate, which, of
course President Trump has said that he wants Kevin Walsh
to do, and what he said he thinks Kevin Walsh
will do. But Kevin Walsh can't do it because he's
only one member of the committee.
And that's Bloomberg Intelligence chief US interest rates strategist Ira Jersey,
who says there's little hanging on the outcome of this
week's meeting. The Bank is widely expected to hold this
benchmark rate unchanged.
Well, SpaceX chairs are anything but on hold, Karen. They
are jumping in the pre market following its debut Friday
that vaulted the company into the ranks of the world's
most valuable public firms. Right now, SpaceX stock is up
more than five percent. Today will actually mark the first
full trading session for SpaceX. Agained nineteen percent on Friday.
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 John Tucker. John,
Good Morning, Good Morning, Karen.
That more than fifty year curse broke in with the
next winning the NBA Championship Saturday night, but not all
celebrating handled it well. There was violence. Five school buses
being used for the World Cup were destroyed, including one
set on fire, and police say four people were either
stabbed or slashed. A seventeen year old shot on the
foot near Times Square Stati Mitch McConnell, the longest serving
Senate Republican leader, was admitted to a hostel yesterday morning.
Spokesman didn't give any details about McConnell's condition, except to
say he's receiving excellent care. And A UFC fight at
the White House last night drew four thousand people to
the South Lawn. President Trump and the First Lady celebrating
his eightieth birthday. They sat ringside.
I got to thank President Trump for making this happen.
A federal lawsuit trying to stop the event from happening,
calling it deeply corrupt. Vice President J. D. Van says
he hasn't decided whether he's going to seek the Republican
presidential nomination at twenty twenty eight, but tell CBS News
he expects President Trump to get behind him.
I have no doubt that the President the United States
is going to be very supportive of anything that I
ultimately decide to do. But we really just haven't talked
about what that thing will be.
Vice President Vance on CBS Sunday Morning Global News twenty
four hours a day whenever you wanted with Bloomberg News. Now,
I'm John Tucker. This is Bloomberg Karen.
Thanks John. Time now for our Bloomberg Sports update, and
for that we bring in John stash Hour.
Thanks Aaron. Twenty four hours after the next to compet
of the playoff run of sixteen wins only three losses
in the NBA, the Carolina Hurricanes did the exact same thing.
They won three nothing at Vegas. They won the Stanley
Cup for the second time. The previous one was twenty
years ago. Jordan Stall, who scored in each of the
first five games, won the cons might as playoff MVP
the World Cup Germany seven to one over Kurisa and
Sweden a five to one rout of Tunisia Ivery Coast Upset, Ecuado, Our,
Japan and the Netherlands finish in the time. That's to
Bloomberg Sports Update.
Stay with us. More from Bloomberg day Break coming up
after this.
Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam
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Bloomberg Business Appum. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. President Donald Trump has an
interim deal with Iran at his back as he he
to the G seven leaders summit in France today. Implementation
could be a key focus for G seven allies. Kayak
Kallis has had a foreign policy for the European Union.
We have expertise when it comes to the nuclear negotiations,
for example. We can also provide other help and.
See you Foreign Policy Chief Kayakallis speaking with reporters in
Luxembourg and joining us now from the G seven in Evyon, France.
Is Bloomberg Chief Europe correspondent Oliver Crook. So, Oliver, what
role could the G seven play now? As we do
have this interim deal least announced by the US and
Iran good morning.
Good morning, Yeah, exactly. So this is going to be
the main focus for the G seven. It was going
to be the main focus regardless of sort of what
happened with the war in Iran. But now that there
is a beginning of the sort of architecture coming into
form to basically end this war, you know, everybody here
hopes that will be the main focus for leaders here.
So there's a big question of how the G seven
can sort of contribute to this.
Particularly the Europeans.
You heard it from the host of these proceedings, the
President of France and Menu and who's really said it
from the very beginning of the war that the Europeans
would have a sort of military role in the day
after and sort of the after a ceasefire.
So the question is how do you flesh that out?
How are the Europeans going to be involved.
We know that it could involve a sort of d
mining mission that the French and the UK have said
that they was sort of put forward. But you should
also remember that the Europeans are involved in the sanctions
regime against Iran, and we heard from the E three.
These are the leaders of Germany, UK, France and Italy
saying that actually they'll be open to putting down some
of their own sanctions in accordance with this deal if
Iran sort of reaches certain milestones, So all of this
sort of nigger nitty gritty will be established and discussed
here at the G seven leaders. And we should say though,
there are leaders also from other countries that are actually
crucial to the architecture of this deal, of the leaders
of Qatar, the UAE, Egypt, they will all be here.
And again it's actually just sort of stress that the
President of the United States is going to be out
of country. He's going to be in France for three days.
That's a really rare opportunity to have that much time
with the President of the United States with a very
busy agenda of many things that these European leaders want
to get from the President of the United States.
As you've been making ali, the far As, semi official
news service in Iran is reporting that this deal is
going to stipulate that Iran is going to allow passage
through the Strait of Horror moves for only sixty days,
presumably during the nuclear negotiations. Could that complicate things further
for the G seven is they're thinking about that day after.
Yeah, I mean absolutely.
I think that again everyone here will say sort of
a great relief that there is a deal. The next
thing they're going to do is find out what this
actual deal is, what is actually in it. I think
that that is I think what the entire world is
grappling with, and I think that for the leaders here
from theed or from the United States, but of course
from the Europeans and some of the other nations, is
to basically make sure that this does not ever return
back to a kinetic war, that we don't ever get
the closure yet again of the Strait of Horrormus. So
they were going to think put everything on the table
to try to get that forward with the President of
the United States in those negotiations, but again trying to
get the president on side not just on the question
of the Gulf, and if he's satisfied with what the
Europeans are offering, can they get him on side on
some of the other issues we should say, you know,
namely for the Europeans here and as someone who's going
to be here in the next couple of days is
the President of Ukraine, Vladimir Zelenski, who spoke with the
President yesterday. We should say President United States also spoke
with Ladimir Putin yesterday.
And I wanted to get to that in our last
minute here, Alli, because what's the challenge to put the
Russia Ukraine issue back in front of the table for
President Trumps. We're still trying to figure out what the
final details of this interim agreement with their Ron are
going to be.
Yeah.
Absolutely, I think that the way that the Ukrainians and
the Europeans are going to see the Trump visit here
and the opportunity that's presented here is the big question
is what is the next chapter of American engagement on
the question of Ukraine and Russia. Right, they've basically checked
out entirely of that process.
It became too complicated.
They had their hands full with a number of different issues,
and they basically walked away from it saying, you know, Europe,
you take this over.
If the President of the United.
States feels a little bit embolden, he feels that he's
got to win at his back, you know, he just
spoke with Putin. Potentially, you know this come he comes
back to.
The table in some way or another.
So I think the Europeans, and particularly for Zelensky, is
to really establish what the next chapter of American involvement
is going to be, obviously in the question of diplomacy,
the question of attention, but of course the question of
military hardware, a lot of which has been diverted away
from Europe, away from Ukraine and in the Middle East
in order to deal with that war.
This is Bloomberg day Break, your morning podcast on the
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