July 29, 2025 • 25 mins
On today's podcast:
1) Work was winding down at 345 Park Avenue on Monday when a man strode across the public plaza just outside the Midtown Manhattan tower with an assault rifle in his hand.Within minutes, at least four people were dead, as well as the gunman, in a mass shooting in the epicenter of American finance. The harrowing scene unfolded in the 44-story, dark-glass tower that houses the offices of private equity giant Blackstone Inc., consultant KPMG, the National Football League and building landlord Rudin Management.
2) Commerce Secretary Howard Lutnick said a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm.
3) Barclays Plc’s traders turned in their best second quarter performance in three years as the volatility wrought by US President Donald Trump’s trade war helped them deliver revenue that topped analyst expectations.
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Episode Transcript
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Speaker 1 (00:00):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we'll have more on the markets in a minute,
but we begin with the latest on the deadly shooting
spree in New York City. A gunman shot and killed
four people before turning the gun on himself at the
epicenter of American Finance, in a building that houses the
offices of the National Football League. Bloomberg's John Tucker joins
us from Manhattan with the very latest.
Speaker 4 (00:36):
John and Nathan's security camera footage at three forty five
Park Cabinue who shows the shooter double Park is black.
BMW enter the lobby of the forty four story dark
glass tower with an assault rifle. He turns right and
immediately opens fire on an NYPD officer. He then shoots
a woman who took cover behind a pillar, and proceeds
(00:57):
through the lobby, spring it with gunfire. He makes his
way to the elevator bank, where he shoots a security
guard who is taking cover behind a desk. NYPD Commissioner
Jessica Tish goes up.
Speaker 5 (01:08):
To the thirty third floor, which is Roodent Management and
begins to walk the floor, firing rounds as he traveled.
Speaker 4 (01:16):
Mayor Eric Adams identifies the murdered police officer, who was
in uniform working security, as thirty six year old dar
Adel Islam, married with two young boys and a pregnant wife.
Speaker 6 (01:28):
He's an immigrant from Bangladesh and he loved this city,
and everyone we spoke with stated he was in person
of faith.
Speaker 4 (01:36):
Jessica Chen was attending a presentation on the second floor
with over one hundred colleagues when they heard the commotion.
Her first instinct was to text her loved ones.
Speaker 7 (01:46):
Testing my parents that I love them.
Speaker 8 (01:49):
I tested people good in.
Speaker 7 (01:51):
My life that I love them. We were honestly, really
really scared.
Speaker 4 (01:55):
Three forty five Park is home to Rudent Management, the
investment company blacks Stone KPMG, and the National Football League.
A Blackstone employee was among those killed. At ESPN reports
one NFL employee was seriously injured, and now law enforcement
officials are telling Bloomberg the gunman was targeting the NFL
but ended up on a Rootent Management floor by mistake.
(02:19):
The shooters identified as Las Vegas resident Shane Devon Tamara.
He was found dead from what's believed to be a
self inflicted gunshot wound, and his social media feed showed
he had a football career that ended after a head injury,
and he wrote that the NFL didn't do enough. He
has a documented history of mental health problems. He previously
(02:39):
worked as a security guard at a Las Vegas casino
and did hold a concealed Carrie permit for Nevada. In
New York Time, John Socker Bloomberg Radio.
Speaker 2 (02:48):
Nathan, we want to turn out to the trade talks,
and Commerce Secretary Howard Lutnik is sounding optimistic that the
US and China will be able to extend their trade
truths in other ninety days.
Speaker 9 (02:58):
They're talking right now. The decision maker, of course, with
President Trump. I'm sure the people with who are speaking
with China.
Speaker 8 (03:06):
We're going to go discuss with.
Speaker 9 (03:08):
President Trump how he wants to play it. He's got
an excellent relationship with President She and I think we'll
leave that to Donald Trump to decide how he wants
to do it. Is that a lively outcome, Sure it
seems that way, but let's leave it to President Trump
to decide.
Speaker 2 (03:20):
Commer Secretary Howard Lutnek spoke on Fox News. Treasury Secretary
Scott Bessend is leading a delegation and a third round
of talks with Chinese officials that's said to wrap up
today in Sweden. Meantime, the President Taiwan appears to have
canceled an overseas trip next week after the Trump administration
failed to approve his stopover in the US. Sources to
say there is growing concern that Lei Ching does visit
(03:43):
could derail the China talks. In a possible summit between
President Trump and Xieshin Ping on Truth's Social President Trump
denied he's seeking a meeting with she that we said
he could go to China if the President invites him well.
Speaker 3 (03:55):
Meanwhile, Karen, the trade agreement that the European Union just
reats with the US is facing outing criticism. The deal
would slap fifteen percent tariffs on most EU exports, while
the average duty on US goods should drop below one
percent once the agreement goes into effect. We get more
from Bloomberg News executive editor Paul Dobson.
Speaker 10 (04:14):
It does seem like as people considered this deal, they
detected that there were some weaknesses within what the European
Union had conceded in order to get it done. So, yes,
having some sort of a deal removes that risk of escalation,
but it also sort of takes away the bargaining ships
that the authorities had to try to drive better deal.
In some parts of the business.
Speaker 3 (04:34):
World, Bloomberg's Paul Dobson reports the US and EU are
working on a non legally binding joint statement by this Friday,
and then we'll start working on a legally binding text.
An EU official says that could take time. These kinds
of trade accords usually take years of negotiations.
Speaker 2 (04:49):
Nathan, there may be a mega rail deal in the works.
Bloomberg News has learned United Union Pacific is near an
agreement for a stock and cash dealed by Norfolk Southern
would value the small Arrival at about three hundred and
twenty dollars a share. That price would represent a roughly
twenty three percent premium to Norfolk Southern stock price before
the first reports of a potential deal this month. If kimpleted,
(05:12):
this would be the rail industry's biggest ever tie up.
Speaker 3 (05:15):
Certain of the equity markets now, Karen futures are pointed
higher as we enter the Tuesday session.
Speaker 8 (05:20):
The SMP five hundred.
Speaker 3 (05:21):
Eek got a gain yesterday to nach it's sixth consecutive
record close. Cameron Dawson is chief investment officer at New
Edge Wealth.
Speaker 5 (05:29):
We've been thinking that the one risk to the upside
in the US is that we were calling it the
prints market, where we could sing, let's go crazy and
party like it's nineteen ninety nine. And there are certainly
aspects of this market that are starting to look very frothy.
We're starting to see huge rallies in the most speculative
portions of the market. You see a lot of options
activity that is only betting on the upside. All this
(05:53):
speculative fervor shows that there are investors that are absolutely
clamoring for risk and have zero for any potential downside.
Speaker 3 (06:02):
New Edge welths Cameron Dawson thinks earnings will be the
key driver for markets going forward.
Speaker 2 (06:07):
Well, speaking of earnings, Nathan, it'll be another busy day
with nearly three dozen companies in the S and P
five hundred reporting, and they include Boeing. We get a
preview with Bloomberg's Tom Busby.
Speaker 8 (06:18):
Boeing is back.
Speaker 11 (06:19):
Look for strong improvement in Boeing's cash burn and its
operations after it delivered a healthy one hundred and fifty
jets in the second quarter, more than expected and sixty
three percent more than the same period one year ago.
A potential strike by Machinist at its defense unit, the
maker of the F fifteen and FA eighteen fighter jets,
could weigh on its outlook, though Bloomberg consensus calls for
(06:40):
total revenue of twenty one point six to eight billion
dollars on a core loss per share of one dollar
forty cents on a negative cash flow of one point
seventy nine billion dollars.
Speaker 8 (06:49):
Tom buzzby Bloomberg Radio.
Speaker 3 (06:51):
All right, Tom, thanks, it's also a busy day for
earnings in Europe. Let's go to London check in with
Bloomberg's Ewan Pots for the very latest.
Speaker 8 (06:57):
Good morning you and.
Speaker 12 (06:59):
Nathan and Karen Treys. British bank Barclays have turned in
their best second quarter performance in three years, the twenty
six percent game recorded in the fixed income business, driven
by tariff induced volatility in markets. Tariff's also in focus
for carmakers. Dalantis, the Italian company behind Chrysler and Jeep,
says it expects to take a one point two billion
(07:20):
Euro hit in the second half following the EU's trade
deal with the United States, and we also had earnings
from the most valuable listed company in London, drug maker
AstraZeneca reporting better than expected sales and rising profit for
the second quarter, spurred by its stable of cancer medicines
and growth in the United States. In London. I'm un
pots Bloomberg Radio.
Speaker 2 (07:41):
A right you and thank you. Another major bank once
its employees back in the office, HSBC is asking our
managing directors to return to their desks at least four
days a week starting in October. Five years after the
global pandemic field and unprecedented boom in remote work, bank
executives have become more volgal and insisting networker's return to
the office. Back in January, JP Morgan Chase told its
(08:02):
employees to come back five days a week.
Speaker 8 (08:04):
And Karen the gold bull rush may not be over.
Speaker 3 (08:07):
Fidelity says the commodity could hit four thousand dollars an
ounce by the end of next year. The firm sites
the Federal Reserve likely to cut rates to cushion the economy,
the falling dollar, and central banks adding to their holdings.
Checking gold prices right now, Comix golds up three tenths
of one percent, trading at thirty three hundred and seventy
seven dollars and fifty cents per ounce.
Speaker 2 (08:30):
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.
Speaker 8 (08:36):
Michael, Good morning, Good morning Karen.
Speaker 13 (08:38):
This week, two hundred million Americans are under heat alerts
from South Dakota to the Northeast. In New York City,
temperatures could reach as high as one hundred degrees today.
In Boston, the highest forecast to hit ninety seven. The
temperature will be in the mid nineties in the nation's capital.
President Trump is putting pressure on Russia to make a
piece deal with the Ukraine. The President had given Vladimir
(09:02):
Putin fifty days until early September to make a peace
deal with Ukraine. Speaking in Scotland, the President now says
he's moving up that deadline.
Speaker 14 (09:11):
I'm going to make a new deadline of about ten,
ten or twelve days from today.
Speaker 8 (09:18):
There's no reason in waiting.
Speaker 13 (09:20):
The President has threatened to hit Russia with quote very
severe tariffs. Former Russian president Dmitri Medvedev Warren that President
Trump's ultimatum is quote a step towards war between Russia
and the US. Israeli Prime Minister Benjamin at Nahu says
no one in Gaza is starving. President Trump disagrees and
(09:41):
notes the images emerging of emaciated people. The World Health
Organization says sixty three of the seventy four malnutrition related
deaths in Gaza this year have occurred this month. Those
included twenty four children under the age of five. UNICEF
spokesman Ricardo is in Gaza.
Speaker 15 (10:01):
More part theers need to be open. More humanitarian aid
needs to flow is through the sky. It's again very welcome,
but it cannot replace the efficiency of trucks that actually
go to communities and do not put them at risk.
Speaker 13 (10:16):
Israel has agreed to a temporary halt in the fighting
in Gaza while air drops of food and medical supplies
are being sent in. President Trump asked a judge to
order Rupert Murdoch to set for a deposition within fifteen
days in mister Trump's ten billion dollar libel lawsuit against
the Wall Street Journal over a story about Jeffrey Epstein.
(10:38):
The President argued and expedited schedule is justified due to
the executive's advanced age. Meanwhile, Epstein's accomplice Kallay Maxwell, asked
the Supreme Court to consider an appeal to overturn her
sex trafficking conviction. Global News twenty four hours a day
and whenever you want it with Bloomberg News. Now.
Speaker 8 (10:59):
I'm Michael Barn.
Speaker 13 (11:00):
This is Bloomberg Karen.
Speaker 2 (11:01):
All right, Michael Barr, thank you time now for the
Bloomberg Scores update, brought to you by Flushing Bank. And
here's John stash Hour. John, good morning.
Speaker 16 (11:13):
You want to care. The Mets took their seven game
winning streak to San Diego, got a Markiento's grand slam
of the fifth inning, only to have the Padres came
right back with five runs in the bottom of the fifth.
The Mets trailed six to five in the top of
the nine, and he hits one of the air the tap,
bright cutter, black coast.
Speaker 17 (11:30):
Tatis takes a.
Speaker 13 (11:31):
Look and this game is tied.
Speaker 17 (11:33):
Joddy Maarisio for the second straight night.
Speaker 16 (11:38):
What tight home on the top of the ninth.
Speaker 2 (11:42):
I have a Mets of cutting.
Speaker 8 (11:43):
Back even six to six?
Speaker 16 (11:45):
Yes, and why Maratio had that four hit nine total
base game in Sundays win in San Francisco.
Speaker 8 (11:50):
The Padres, however.
Speaker 16 (11:51):
Scored bottom of the ninth off new met reliever Gregory Soto,
who hurt himself with an error. Padres won seven to
six Mets Day game and a half head of the Phillies,
who lost with the White Sox at the Stadium. The
Yankees had three hits in the first inning, score twice,
and then did nothing in the rest of the game.
Lost to Tampa Bay four to two. Lost a chance
to gain ground on Toronto, who lost in Baltimore. The
Jay's Day five and a half ahead. Red Sox lost
(12:14):
in Minnesota five to four. Nationals won two to one
in Houston the day after the inductions in Cooperstown. A
Hall of Famer has passed away. Ryan Sandberg was sixty five,
had battled kin through the past year and a half.
Played fifteen years for the Cubs, a ten time All Star,
nine Gold Gloves, the NLMVP in nineteen eighty four. There
it's a statue of Sandburg outside Wrigby Field. Dean Sanders
(12:36):
revealed that he's been battling ladder cancer. The NFL Hall
of Famer current Colorado coach made his first comments with.
Speaker 14 (12:43):
Now wonderful people like this, I probably wouldn't be sitting
here today because it grew so expeditiously. I could say, man,
everybody get checked out, because I've been one for me
getting tested for something else. They wouldn't have stumbled up
on this. And make sure you go to the get
(13:05):
the right care.
Speaker 16 (13:06):
Jon had successful surgeries, doctor said Sanders is healed.
Speaker 8 (13:09):
Johns Dashey or Bloomberg Sports.
Speaker 2 (13:10):
Karenamathan, all right, John, thank you, and Bloomberg Daybreak is
brought to you by Flushing Bank. Life's more rewarding with
Flushing Banks complete cash rewards program for personal and business
accounts with twenty nine in New York metro locations, There's
nothing more rewarding. Visit Flushingbank dot com member FDIC.
Speaker 1 (13:29):
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.
Speaker 8 (13:39):
Good morning. I'm Nathan Hager.
Speaker 3 (13:41):
The heart of New York City's financial district is reeling
this morning after a deadly mass shooting inside the building
that houses Blackstone, the NFL and many other businesses.
Speaker 8 (13:50):
New York City Mayor Eric Adams no.
Speaker 6 (13:52):
Hearts to heavy. Five innocent people shot tonight. We lost
four souls to know the senseless act of gun violence.
Speaker 3 (14:03):
Mayor Adam spoke last night after the gunfire inside three
p forty five Park Avenue. Joining us this morning, Bloomberg's
Miles Miller, who's covered New York City for decades. Miles,
good morning, what's the latest that we know about this shooting?
Speaker 8 (14:15):
Good morning.
Speaker 17 (14:15):
What we know now is that the suspect in this
incident happened to have been targeting the National Football League
in this building that houses not only the National Football League,
but also Blackstone and KPMG. The National Football League occupies
the fifth floor. We're told that the suspect in his
(14:38):
back pocket had a note that made reference to a
chronic condition that a lot of football players have, known
as CTE. It's a condition that only is really studied
after a person who has it dies and they study
their brain, and it appears as though he was a
football player from Nevada, had played in high school, and
(15:03):
based off of those hits, he believes he had that condition,
and so that's why police believe he took this cross
country trip from Nevada, making stops in Colorado and then
most recently New Jersey, before carrying that M four rifle
into that building on Park Avenue and opening fire, killing
(15:25):
scores of people.
Speaker 3 (15:27):
You said that the NFL headquarters is on the fifth floor,
but from what we understand, the gunman in this case
wound up on the thirty third floor.
Speaker 8 (15:36):
How did that happen?
Speaker 17 (15:38):
Yeah, the suspect in this incident walks in to the
building and the first person he encounters is a police
officer in uniform who's doing what's called a paid detail,
meaning it's his day off, but he's in uniform working
private security for an approved company. He shoots that police
(15:58):
officer in the back and then can kin use firing
in that lobby and gets into the first elevator bank
he sees. When he gets in that elevator bank there's
a woman already inside. She runs out. He doesn't shoot her.
But it's the elevator banks that have that are in
most corporate buildings now here in New York, where the
floor is picked outside. So he didn't pick the floor.
(16:20):
He got in, he got out, and when he reached
that floor, the thirty four that floor. He wound up
on the floor that is occupied by Rudin, a big
property management company here in New York. And it's there
where he is walking down the hallway firing left and right,
strikes a woman who works for that firm, and then
(16:43):
ultimately turns the gun on himself.
Speaker 3 (16:45):
Now, obviously, Miles, this is raising a lot of memories
just a few months ago of what happened outside the
meeting where the United Health CEO was killed. This has
got to raise questions about security inside bill things in Midtown.
Speaker 8 (17:02):
What's being done about that?
Speaker 13 (17:03):
Right?
Speaker 17 (17:04):
If you know anything about Rudin, the one thing that
Rudin spends, you know, a lot of money on is
the security of their buildings. They are one of the
largest contributors to the Police Foundation here in New York.
In fact, I was at their gala a few months
ago and Rudin was honored because of their work with
this plate paid Detail unit. It has a lot of
(17:27):
folks who are both in property management but also just
generally in corporate In the corporate world, frightened because this
appears to be another targeting of an organization and potentially
its executives as it relates to a specific cause. And
you know that was the same thing that happened with
Luis Jimangion, right, a guy who had issues with United Healthcare,
(17:51):
who had back pain, who had that debilitating surgery and
was having issues with United Healthcare. We're seeing the same
thing happening here with Shane tomorre Or, a twenty seven
year old who you know, in his note that he
left in his pocket, has said he experienced significant pain
from his football career and he felt the NFL wasn't
(18:13):
doing anything about it. This is something that has been
on the mines of corporate America for the last couple
of months, and here it is rearing its ugli head.
Speaker 3 (18:21):
Yet again, has there been any reaction as far as
we know from the NFL, not just in regards to
what this gunman had to say in this apparent manifesto,
but about what they're going to do in terms of
ramping up their own security.
Speaker 13 (18:34):
Yeah.
Speaker 17 (18:35):
So this this came out overnight, but you know, we're
worth mentioning that the NFL's head of security is the
former head of DC's Metropolitan Police Department, you know, and
so they will definitely be taking a look at what
they can do in terms of security of their facilities
and also security of the clubs around the country. Right,
(18:58):
this is not just narrowly focused on New York. It's
going to be something they look at around the country
at miles. What do we know at this point about
the victims. Of course, there's been a lot of attention,
at least at the outset on this officer who put
himself in harm's way last night. Right, we know that
at least one of the victims was an employee at Rudin.
(19:18):
We know that a Blackstone employee was among one of
those killed. And then we also know that this police
officer who was the first person shot was expecting a
baby in just about two months or about a month
and a half. His wife is currently pregnant. You know,
he had, you know, worked towards the American Dream, had
worked as a traffic agent before he joined the NYPD,
(19:41):
worked his way up to being a cop. He's a cop.
He was a cop in the Bronx and was working
to make ends meet. Now you know, they're live shattered,
the family's live shattered forever by what was truly a
senseless shooting and an alarming shooting in the middle of
midtown Manhattan.
Speaker 8 (19:58):
And given that alarm miles.
Speaker 3 (20:00):
So you have to wonder whether these businesses, so many
businesses housed the three forty five park, are going to
be able to even operate today. What have we heard
about that?
Speaker 13 (20:08):
Right?
Speaker 17 (20:09):
A number of the companies that are based there have
told their employees that they're able to be working from home.
You know, it's worth noting that this is an area
that is filled with finance firms. Right, we're talking about
Citadel in the neighborhood. Obviously, we know JP Morgan has
a huge building that they're building there, but also it's
(20:30):
a major campus for them. It's their headquarters out of there.
We know that they're going to be stepping up their security.
Speaker 2 (20:35):
Right.
Speaker 17 (20:35):
Jeffries is based in a neighborhood as well. My friend
just took a job chief of security at B and
Y formerly B and Y Melon, and you know, second
day on the job, he's going to have to be
meeting with folks to figure out how they're going to
keep their employees safe. You know, it's going to be
a look at Okay, if we have police on the perimeter,
(20:55):
you know, is that enough to stop a threat? I mean,
this guy walked in to this building toting an M
four in the middle of Manhattan, double parked his car.
Will the NYPD supplement their units and bring back their
counter terrorism and Strategic Response group so that they can
quickly mobilize to things like this happening? And you saw
yesterday the mobilization from the NYPD was immediate and really
(21:19):
trying to sweep that building to make sure that everybody
was okay once the threat was neutralized.
Speaker 8 (21:24):
All right, Myles, thank you for this.
Speaker 3 (21:26):
That's veteran Bloomberg New York City reporter Miles Miller with
us this morning. We're going to be checking back with
Miles for updates throughout the morning. It's just about five
point twenty four on Wall Street. Let's get to the
latest now on some of those trade discussions. A second
day of talks between Treasury Secretary Scott Bessant and his
Chinese counterparts is underway in Stockholm, Sweden, where we find
Bloomberg's Oliver Crook this morning. Oliver, great to have you
(21:48):
with us, walk us through what we know so far.
It sounded like everybody was kind of mum coming out
of talks on day one yesterday.
Speaker 8 (21:55):
Good morning, Yeah, that's.
Speaker 7 (21:56):
Right, good morning, they said, about five hours speaking yesterday
here in sweet they've been inhabiting the Prime Minister of
Sweden's offices, which is very kindly lent out for these
trade negotiations between the Chinese Vice Premiere at Scott Fessant
and Jamison Greer. Five hours of discussions yesterday. We've just
watched them walk in about thirty or forty five minutes ago,
So we have to imagine that the meeting is now
underway and we'd hope to hear from them at some
(22:17):
point later in the afternoon. The real deliverable here, what
we're expecting to get and hoping to get from the
Chinese and the United States is another extension to that
truce that was struck after that trade war escalated between
China and the United States. You'll recall that tariff rates
reached one hundred and twenty five percent at one point,
basically precluding any trade between the two largest economies in
the world. That has now come down, But that trade
(22:39):
truce has is set to expire on August of twelfth.
So the ambition here is trying to make some forward
progress on a getting that truce forward, but then also
laying the groundwork for potentially a longer term trade deal
with China, and of course there's been a lot of
discussion potentially about Trump traveling to China meeting directly with Shijiping,
and so those are going to be the things that
are circulating in the air.
Speaker 8 (22:57):
Yeah.
Speaker 3 (22:57):
We heard some measured optimism from Commerce Secretary of Howard
Ludnik on Fox News yesterday saying that there probably is
going to be an extension of that trade truce. And
there's been a little bit of ranker I guess you
could say, around the lead up to a potential meeting
between Presidents Trump and She, particularly when it comes to
Taiwan's president.
Speaker 7 (23:20):
Yeah, so we understand that the US administration has basically forbidden,
or at least sort of encouraged the Chaiwanese bresdent not
to pass through the United States, and that comes at
a time when the administration here on the United States
has been taken a sort of softer tone with China.
What I think is really interesting is to think about
the contrast that we're seeing between the negotiations we had
with the European Union and the ones that we're having
(23:40):
with China and the United States. The Europeans are much
more willing to accept concessions and to potentially go the
root of pragmatism a trade deal that's not really that good,
but are not willing to retaliate. For the Chinese, it's
a very different story. The Chinese have been spending the
last few decades boosting their status economically, boosting their status
on the global stage. They are going to put pride
(24:01):
and the ability to not even theatrically bow as many
of the European countries have and many of the US
trading partners have. They're much more unwilling to do that,
which is why it's going to be a much tougher
negotiation for the United States, and we're going to have
to see how much appetite there is from the Trump
administration to really fight very hard, because of course, this
has been one of the great campaign pledges of Donald Trump,
which is to fix the relationship, the trading relationship with China,
(24:22):
which he says has continuously ripped off the United States
for many decades.
Speaker 2 (24:26):
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Speaker 8 (25:12):
And I'm Nathan Hager.
Speaker 3 (25:13):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg day
Break
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we'll have more on the markets in a minute,
but we begin with the latest on the deadly shooting
spree in New York City. A gunman shot and killed
four people before turning the gun on himself at the
epicenter of American Finance, in a building that houses the
offices of the National Football League. Bloomberg's John Tucker joins
us from Manhattan with the very latest.
Speaker 4 (00:36):
John and Nathan's security camera footage at three forty five
Park Cabinue who shows the shooter double Park is black.
BMW enter the lobby of the forty four story dark
glass tower with an assault rifle. He turns right and
immediately opens fire on an NYPD officer. He then shoots
a woman who took cover behind a pillar, and proceeds
(00:57):
through the lobby, spring it with gunfire. He makes his
way to the elevator bank, where he shoots a security
guard who is taking cover behind a desk. NYPD Commissioner
Jessica Tish goes up.
Speaker 5 (01:08):
To the thirty third floor, which is Roodent Management and
begins to walk the floor, firing rounds as he traveled.
Speaker 4 (01:16):
Mayor Eric Adams identifies the murdered police officer, who was
in uniform working security, as thirty six year old dar
Adel Islam, married with two young boys and a pregnant wife.
Speaker 6 (01:28):
He's an immigrant from Bangladesh and he loved this city,
and everyone we spoke with stated he was in person
of faith.
Speaker 4 (01:36):
Jessica Chen was attending a presentation on the second floor
with over one hundred colleagues when they heard the commotion.
Her first instinct was to text her loved ones.
Speaker 7 (01:46):
Testing my parents that I love them.
Speaker 8 (01:49):
I tested people good in.
Speaker 7 (01:51):
My life that I love them. We were honestly, really
really scared.
Speaker 4 (01:55):
Three forty five Park is home to Rudent Management, the
investment company blacks Stone KPMG, and the National Football League.
A Blackstone employee was among those killed. At ESPN reports
one NFL employee was seriously injured, and now law enforcement
officials are telling Bloomberg the gunman was targeting the NFL
but ended up on a Rootent Management floor by mistake.
(02:19):
The shooters identified as Las Vegas resident Shane Devon Tamara.
He was found dead from what's believed to be a
self inflicted gunshot wound, and his social media feed showed
he had a football career that ended after a head injury,
and he wrote that the NFL didn't do enough. He
has a documented history of mental health problems. He previously
(02:39):
worked as a security guard at a Las Vegas casino
and did hold a concealed Carrie permit for Nevada. In
New York Time, John Socker Bloomberg Radio.
Speaker 2 (02:48):
Nathan, we want to turn out to the trade talks,
and Commerce Secretary Howard Lutnik is sounding optimistic that the
US and China will be able to extend their trade
truths in other ninety days.
Speaker 9 (02:58):
They're talking right now. The decision maker, of course, with
President Trump. I'm sure the people with who are speaking
with China.
Speaker 8 (03:06):
We're going to go discuss with.
Speaker 9 (03:08):
President Trump how he wants to play it. He's got
an excellent relationship with President She and I think we'll
leave that to Donald Trump to decide how he wants
to do it. Is that a lively outcome, Sure it
seems that way, but let's leave it to President Trump
to decide.
Speaker 2 (03:20):
Commer Secretary Howard Lutnek spoke on Fox News. Treasury Secretary
Scott Bessend is leading a delegation and a third round
of talks with Chinese officials that's said to wrap up
today in Sweden. Meantime, the President Taiwan appears to have
canceled an overseas trip next week after the Trump administration
failed to approve his stopover in the US. Sources to
say there is growing concern that Lei Ching does visit
(03:43):
could derail the China talks. In a possible summit between
President Trump and Xieshin Ping on Truth's Social President Trump
denied he's seeking a meeting with she that we said
he could go to China if the President invites him well.
Speaker 3 (03:55):
Meanwhile, Karen, the trade agreement that the European Union just
reats with the US is facing outing criticism. The deal
would slap fifteen percent tariffs on most EU exports, while
the average duty on US goods should drop below one
percent once the agreement goes into effect. We get more
from Bloomberg News executive editor Paul Dobson.
Speaker 10 (04:14):
It does seem like as people considered this deal, they
detected that there were some weaknesses within what the European
Union had conceded in order to get it done. So, yes,
having some sort of a deal removes that risk of escalation,
but it also sort of takes away the bargaining ships
that the authorities had to try to drive better deal.
In some parts of the business.
Speaker 3 (04:34):
World, Bloomberg's Paul Dobson reports the US and EU are
working on a non legally binding joint statement by this Friday,
and then we'll start working on a legally binding text.
An EU official says that could take time. These kinds
of trade accords usually take years of negotiations.
Speaker 2 (04:49):
Nathan, there may be a mega rail deal in the works.
Bloomberg News has learned United Union Pacific is near an
agreement for a stock and cash dealed by Norfolk Southern
would value the small Arrival at about three hundred and
twenty dollars a share. That price would represent a roughly
twenty three percent premium to Norfolk Southern stock price before
the first reports of a potential deal this month. If kimpleted,
(05:12):
this would be the rail industry's biggest ever tie up.
Speaker 3 (05:15):
Certain of the equity markets now, Karen futures are pointed
higher as we enter the Tuesday session.
Speaker 8 (05:20):
The SMP five hundred.
Speaker 3 (05:21):
Eek got a gain yesterday to nach it's sixth consecutive
record close. Cameron Dawson is chief investment officer at New
Edge Wealth.
Speaker 5 (05:29):
We've been thinking that the one risk to the upside
in the US is that we were calling it the
prints market, where we could sing, let's go crazy and
party like it's nineteen ninety nine. And there are certainly
aspects of this market that are starting to look very frothy.
We're starting to see huge rallies in the most speculative
portions of the market. You see a lot of options
activity that is only betting on the upside. All this
(05:53):
speculative fervor shows that there are investors that are absolutely
clamoring for risk and have zero for any potential downside.
Speaker 3 (06:02):
New Edge welths Cameron Dawson thinks earnings will be the
key driver for markets going forward.
Speaker 2 (06:07):
Well, speaking of earnings, Nathan, it'll be another busy day
with nearly three dozen companies in the S and P
five hundred reporting, and they include Boeing. We get a
preview with Bloomberg's Tom Busby.
Speaker 8 (06:18):
Boeing is back.
Speaker 11 (06:19):
Look for strong improvement in Boeing's cash burn and its
operations after it delivered a healthy one hundred and fifty
jets in the second quarter, more than expected and sixty
three percent more than the same period one year ago.
A potential strike by Machinist at its defense unit, the
maker of the F fifteen and FA eighteen fighter jets,
could weigh on its outlook, though Bloomberg consensus calls for
(06:40):
total revenue of twenty one point six to eight billion
dollars on a core loss per share of one dollar
forty cents on a negative cash flow of one point
seventy nine billion dollars.
Speaker 8 (06:49):
Tom buzzby Bloomberg Radio.
Speaker 3 (06:51):
All right, Tom, thanks, it's also a busy day for
earnings in Europe. Let's go to London check in with
Bloomberg's Ewan Pots for the very latest.
Speaker 8 (06:57):
Good morning you and.
Speaker 12 (06:59):
Nathan and Karen Treys. British bank Barclays have turned in
their best second quarter performance in three years, the twenty
six percent game recorded in the fixed income business, driven
by tariff induced volatility in markets. Tariff's also in focus
for carmakers. Dalantis, the Italian company behind Chrysler and Jeep,
says it expects to take a one point two billion
(07:20):
Euro hit in the second half following the EU's trade
deal with the United States, and we also had earnings
from the most valuable listed company in London, drug maker
AstraZeneca reporting better than expected sales and rising profit for
the second quarter, spurred by its stable of cancer medicines
and growth in the United States. In London. I'm un
pots Bloomberg Radio.
Speaker 2 (07:41):
A right you and thank you. Another major bank once
its employees back in the office, HSBC is asking our
managing directors to return to their desks at least four
days a week starting in October. Five years after the
global pandemic field and unprecedented boom in remote work, bank
executives have become more volgal and insisting networker's return to
the office. Back in January, JP Morgan Chase told its
(08:02):
employees to come back five days a week.
Speaker 8 (08:04):
And Karen the gold bull rush may not be over.
Speaker 3 (08:07):
Fidelity says the commodity could hit four thousand dollars an
ounce by the end of next year. The firm sites
the Federal Reserve likely to cut rates to cushion the economy,
the falling dollar, and central banks adding to their holdings.
Checking gold prices right now, Comix golds up three tenths
of one percent, trading at thirty three hundred and seventy
seven dollars and fifty cents per ounce.
Speaker 2 (08:30):
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.
Speaker 8 (08:36):
Michael, Good morning, Good morning Karen.
Speaker 13 (08:38):
This week, two hundred million Americans are under heat alerts
from South Dakota to the Northeast. In New York City,
temperatures could reach as high as one hundred degrees today.
In Boston, the highest forecast to hit ninety seven. The
temperature will be in the mid nineties in the nation's capital.
President Trump is putting pressure on Russia to make a
piece deal with the Ukraine. The President had given Vladimir
(09:02):
Putin fifty days until early September to make a peace
deal with Ukraine. Speaking in Scotland, the President now says
he's moving up that deadline.
Speaker 14 (09:11):
I'm going to make a new deadline of about ten,
ten or twelve days from today.
Speaker 8 (09:18):
There's no reason in waiting.
Speaker 13 (09:20):
The President has threatened to hit Russia with quote very
severe tariffs. Former Russian president Dmitri Medvedev Warren that President
Trump's ultimatum is quote a step towards war between Russia
and the US. Israeli Prime Minister Benjamin at Nahu says
no one in Gaza is starving. President Trump disagrees and
(09:41):
notes the images emerging of emaciated people. The World Health
Organization says sixty three of the seventy four malnutrition related
deaths in Gaza this year have occurred this month. Those
included twenty four children under the age of five. UNICEF
spokesman Ricardo is in Gaza.
Speaker 15 (10:01):
More part theers need to be open. More humanitarian aid
needs to flow is through the sky. It's again very welcome,
but it cannot replace the efficiency of trucks that actually
go to communities and do not put them at risk.
Speaker 13 (10:16):
Israel has agreed to a temporary halt in the fighting
in Gaza while air drops of food and medical supplies
are being sent in. President Trump asked a judge to
order Rupert Murdoch to set for a deposition within fifteen
days in mister Trump's ten billion dollar libel lawsuit against
the Wall Street Journal over a story about Jeffrey Epstein.
(10:38):
The President argued and expedited schedule is justified due to
the executive's advanced age. Meanwhile, Epstein's accomplice Kallay Maxwell, asked
the Supreme Court to consider an appeal to overturn her
sex trafficking conviction. Global News twenty four hours a day
and whenever you want it with Bloomberg News. Now.
Speaker 8 (10:59):
I'm Michael Barn.
Speaker 13 (11:00):
This is Bloomberg Karen.
Speaker 2 (11:01):
All right, Michael Barr, thank you time now for the
Bloomberg Scores update, brought to you by Flushing Bank. And
here's John stash Hour. John, good morning.
Speaker 16 (11:13):
You want to care. The Mets took their seven game
winning streak to San Diego, got a Markiento's grand slam
of the fifth inning, only to have the Padres came
right back with five runs in the bottom of the fifth.
The Mets trailed six to five in the top of
the nine, and he hits one of the air the tap,
bright cutter, black coast.
Speaker 17 (11:30):
Tatis takes a.
Speaker 13 (11:31):
Look and this game is tied.
Speaker 17 (11:33):
Joddy Maarisio for the second straight night.
Speaker 16 (11:38):
What tight home on the top of the ninth.
Speaker 2 (11:42):
I have a Mets of cutting.
Speaker 8 (11:43):
Back even six to six?
Speaker 16 (11:45):
Yes, and why Maratio had that four hit nine total
base game in Sundays win in San Francisco.
Speaker 8 (11:50):
The Padres, however.
Speaker 16 (11:51):
Scored bottom of the ninth off new met reliever Gregory Soto,
who hurt himself with an error. Padres won seven to
six Mets Day game and a half head of the Phillies,
who lost with the White Sox at the Stadium. The
Yankees had three hits in the first inning, score twice,
and then did nothing in the rest of the game.
Lost to Tampa Bay four to two. Lost a chance
to gain ground on Toronto, who lost in Baltimore. The
Jay's Day five and a half ahead. Red Sox lost
(12:14):
in Minnesota five to four. Nationals won two to one
in Houston the day after the inductions in Cooperstown. A
Hall of Famer has passed away. Ryan Sandberg was sixty five,
had battled kin through the past year and a half.
Played fifteen years for the Cubs, a ten time All Star,
nine Gold Gloves, the NLMVP in nineteen eighty four. There
it's a statue of Sandburg outside Wrigby Field. Dean Sanders
(12:36):
revealed that he's been battling ladder cancer. The NFL Hall
of Famer current Colorado coach made his first comments with.
Speaker 14 (12:43):
Now wonderful people like this, I probably wouldn't be sitting
here today because it grew so expeditiously. I could say, man,
everybody get checked out, because I've been one for me
getting tested for something else. They wouldn't have stumbled up
on this. And make sure you go to the get
(13:05):
the right care.
Speaker 16 (13:06):
Jon had successful surgeries, doctor said Sanders is healed.
Speaker 8 (13:09):
Johns Dashey or Bloomberg Sports.
Speaker 2 (13:10):
Karenamathan, all right, John, thank you, and Bloomberg Daybreak is
brought to you by Flushing Bank. Life's more rewarding with
Flushing Banks complete cash rewards program for personal and business
accounts with twenty nine in New York metro locations, There's
nothing more rewarding. Visit Flushingbank dot com member FDIC.
Speaker 1 (13:29):
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.
Speaker 8 (13:39):
Good morning. I'm Nathan Hager.
Speaker 3 (13:41):
The heart of New York City's financial district is reeling
this morning after a deadly mass shooting inside the building
that houses Blackstone, the NFL and many other businesses.
Speaker 8 (13:50):
New York City Mayor Eric Adams no.
Speaker 6 (13:52):
Hearts to heavy. Five innocent people shot tonight. We lost
four souls to know the senseless act of gun violence.
Speaker 3 (14:03):
Mayor Adam spoke last night after the gunfire inside three
p forty five Park Avenue. Joining us this morning, Bloomberg's
Miles Miller, who's covered New York City for decades. Miles,
good morning, what's the latest that we know about this shooting?
Speaker 8 (14:15):
Good morning.
Speaker 17 (14:15):
What we know now is that the suspect in this
incident happened to have been targeting the National Football League
in this building that houses not only the National Football League,
but also Blackstone and KPMG. The National Football League occupies
the fifth floor. We're told that the suspect in his
(14:38):
back pocket had a note that made reference to a
chronic condition that a lot of football players have, known
as CTE. It's a condition that only is really studied
after a person who has it dies and they study
their brain, and it appears as though he was a
football player from Nevada, had played in high school, and
(15:03):
based off of those hits, he believes he had that condition,
and so that's why police believe he took this cross
country trip from Nevada, making stops in Colorado and then
most recently New Jersey, before carrying that M four rifle
into that building on Park Avenue and opening fire, killing
(15:25):
scores of people.
Speaker 3 (15:27):
You said that the NFL headquarters is on the fifth floor,
but from what we understand, the gunman in this case
wound up on the thirty third floor.
Speaker 8 (15:36):
How did that happen?
Speaker 17 (15:38):
Yeah, the suspect in this incident walks in to the
building and the first person he encounters is a police
officer in uniform who's doing what's called a paid detail,
meaning it's his day off, but he's in uniform working
private security for an approved company. He shoots that police
(15:58):
officer in the back and then can kin use firing
in that lobby and gets into the first elevator bank
he sees. When he gets in that elevator bank there's
a woman already inside. She runs out. He doesn't shoot her.
But it's the elevator banks that have that are in
most corporate buildings now here in New York, where the
floor is picked outside. So he didn't pick the floor.
(16:20):
He got in, he got out, and when he reached
that floor, the thirty four that floor. He wound up
on the floor that is occupied by Rudin, a big
property management company here in New York. And it's there
where he is walking down the hallway firing left and right,
strikes a woman who works for that firm, and then
(16:43):
ultimately turns the gun on himself.
Speaker 3 (16:45):
Now, obviously, Miles, this is raising a lot of memories
just a few months ago of what happened outside the
meeting where the United Health CEO was killed. This has
got to raise questions about security inside bill things in Midtown.
Speaker 8 (17:02):
What's being done about that?
Speaker 13 (17:03):
Right?
Speaker 17 (17:04):
If you know anything about Rudin, the one thing that
Rudin spends, you know, a lot of money on is
the security of their buildings. They are one of the
largest contributors to the Police Foundation here in New York.
In fact, I was at their gala a few months
ago and Rudin was honored because of their work with
this plate paid Detail unit. It has a lot of
(17:27):
folks who are both in property management but also just
generally in corporate In the corporate world, frightened because this
appears to be another targeting of an organization and potentially
its executives as it relates to a specific cause. And
you know that was the same thing that happened with
Luis Jimangion, right, a guy who had issues with United Healthcare,
(17:51):
who had back pain, who had that debilitating surgery and
was having issues with United Healthcare. We're seeing the same
thing happening here with Shane tomorre Or, a twenty seven
year old who you know, in his note that he
left in his pocket, has said he experienced significant pain
from his football career and he felt the NFL wasn't
(18:13):
doing anything about it. This is something that has been
on the mines of corporate America for the last couple
of months, and here it is rearing its ugli head.
Speaker 3 (18:21):
Yet again, has there been any reaction as far as
we know from the NFL, not just in regards to
what this gunman had to say in this apparent manifesto,
but about what they're going to do in terms of
ramping up their own security.
Speaker 13 (18:34):
Yeah.
Speaker 17 (18:35):
So this this came out overnight, but you know, we're
worth mentioning that the NFL's head of security is the
former head of DC's Metropolitan Police Department, you know, and
so they will definitely be taking a look at what
they can do in terms of security of their facilities
and also security of the clubs around the country. Right,
(18:58):
this is not just narrowly focused on New York. It's
going to be something they look at around the country
at miles. What do we know at this point about
the victims. Of course, there's been a lot of attention,
at least at the outset on this officer who put
himself in harm's way last night. Right, we know that
at least one of the victims was an employee at Rudin.
(19:18):
We know that a Blackstone employee was among one of
those killed. And then we also know that this police
officer who was the first person shot was expecting a
baby in just about two months or about a month
and a half. His wife is currently pregnant. You know,
he had, you know, worked towards the American Dream, had
worked as a traffic agent before he joined the NYPD,
(19:41):
worked his way up to being a cop. He's a cop.
He was a cop in the Bronx and was working
to make ends meet. Now you know, they're live shattered,
the family's live shattered forever by what was truly a
senseless shooting and an alarming shooting in the middle of
midtown Manhattan.
Speaker 8 (19:58):
And given that alarm miles.
Speaker 3 (20:00):
So you have to wonder whether these businesses, so many
businesses housed the three forty five park, are going to
be able to even operate today. What have we heard
about that?
Speaker 13 (20:08):
Right?
Speaker 17 (20:09):
A number of the companies that are based there have
told their employees that they're able to be working from home.
You know, it's worth noting that this is an area
that is filled with finance firms. Right, we're talking about
Citadel in the neighborhood. Obviously, we know JP Morgan has
a huge building that they're building there, but also it's
(20:30):
a major campus for them. It's their headquarters out of there.
We know that they're going to be stepping up their security.
Speaker 2 (20:35):
Right.
Speaker 17 (20:35):
Jeffries is based in a neighborhood as well. My friend
just took a job chief of security at B and
Y formerly B and Y Melon, and you know, second
day on the job, he's going to have to be
meeting with folks to figure out how they're going to
keep their employees safe. You know, it's going to be
a look at Okay, if we have police on the perimeter,
(20:55):
you know, is that enough to stop a threat? I mean,
this guy walked in to this building toting an M
four in the middle of Manhattan, double parked his car.
Will the NYPD supplement their units and bring back their
counter terrorism and Strategic Response group so that they can
quickly mobilize to things like this happening? And you saw
yesterday the mobilization from the NYPD was immediate and really
(21:19):
trying to sweep that building to make sure that everybody
was okay once the threat was neutralized.
Speaker 8 (21:24):
All right, Myles, thank you for this.
Speaker 3 (21:26):
That's veteran Bloomberg New York City reporter Miles Miller with
us this morning. We're going to be checking back with
Miles for updates throughout the morning. It's just about five
point twenty four on Wall Street. Let's get to the
latest now on some of those trade discussions. A second
day of talks between Treasury Secretary Scott Bessant and his
Chinese counterparts is underway in Stockholm, Sweden, where we find
Bloomberg's Oliver Crook this morning. Oliver, great to have you
(21:48):
with us, walk us through what we know so far.
It sounded like everybody was kind of mum coming out
of talks on day one yesterday.
Speaker 8 (21:55):
Good morning, Yeah, that's.
Speaker 7 (21:56):
Right, good morning, they said, about five hours speaking yesterday
here in sweet they've been inhabiting the Prime Minister of
Sweden's offices, which is very kindly lent out for these
trade negotiations between the Chinese Vice Premiere at Scott Fessant
and Jamison Greer. Five hours of discussions yesterday. We've just
watched them walk in about thirty or forty five minutes ago,
So we have to imagine that the meeting is now
underway and we'd hope to hear from them at some
(22:17):
point later in the afternoon. The real deliverable here, what
we're expecting to get and hoping to get from the
Chinese and the United States is another extension to that
truce that was struck after that trade war escalated between
China and the United States. You'll recall that tariff rates
reached one hundred and twenty five percent at one point,
basically precluding any trade between the two largest economies in
the world. That has now come down, But that trade
(22:39):
truce has is set to expire on August of twelfth.
So the ambition here is trying to make some forward
progress on a getting that truce forward, but then also
laying the groundwork for potentially a longer term trade deal
with China, and of course there's been a lot of
discussion potentially about Trump traveling to China meeting directly with Shijiping,
and so those are going to be the things that
are circulating in the air.
Speaker 8 (22:57):
Yeah.
Speaker 3 (22:57):
We heard some measured optimism from Commerce Secretary of Howard
Ludnik on Fox News yesterday saying that there probably is
going to be an extension of that trade truce. And
there's been a little bit of ranker I guess you
could say, around the lead up to a potential meeting
between Presidents Trump and She, particularly when it comes to
Taiwan's president.
Speaker 7 (23:20):
Yeah, so we understand that the US administration has basically forbidden,
or at least sort of encouraged the Chaiwanese bresdent not
to pass through the United States, and that comes at
a time when the administration here on the United States
has been taken a sort of softer tone with China.
What I think is really interesting is to think about
the contrast that we're seeing between the negotiations we had
with the European Union and the ones that we're having
(23:40):
with China and the United States. The Europeans are much
more willing to accept concessions and to potentially go the
root of pragmatism a trade deal that's not really that good,
but are not willing to retaliate. For the Chinese, it's
a very different story. The Chinese have been spending the
last few decades boosting their status economically, boosting their status
on the global stage. They are going to put pride
(24:01):
and the ability to not even theatrically bow as many
of the European countries have and many of the US
trading partners have. They're much more unwilling to do that,
which is why it's going to be a much tougher
negotiation for the United States, and we're going to have
to see how much appetite there is from the Trump
administration to really fight very hard, because of course, this
has been one of the great campaign pledges of Donald Trump,
which is to fix the relationship, the trading relationship with China,
(24:22):
which he says has continuously ripped off the United States
for many decades.
Speaker 2 (24:26):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (24:32):
Look for us on your podcast feed by six am
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Speaker 2 (24:38):
You can also listen live each morning starting at five
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Speaker 3 (24:53):
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Speaker 2 (24:59):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now and your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 8 (25:12):
And I'm Nathan Hager.
Speaker 3 (25:13):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg day
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