June 13, 2025 • 20 mins
On today's podcast:
1) Israel attacks Iran's nuclear and ballistic missile programs in a major escalation of hostilities and oil prices surged on fears of a wider war. Iran has vowed reprisals and sent drones toward Israel. The UN atomic watchdog says there are no signs of increased radiation at Iran’s main enrichment site. The airstrikes did kill the commander of Iran’s Revolutionary Guard. The US says it knew of the Israeli attack beforehand but was not involved. It warned Iran against targeting US assets.
2) An appeals court lets President Trump keep using the National Guard in Los Angeles for now. A 3-judge panel of the 9th US Circuit Court of Appeals put on hold a judge's order to pull back on the Trump administration's use of military troops in Los Angeles to deal with protests over immigration raids. The appeals court scheduled a hearing for Tuesday to discuss further action in the case, with written arguments from the administration and California due before then.
3) Frontrunners take aim at each other in the final New York City mayor's debate. democratic candidates held their second debate ahead of this month's primary election. The 33 year old socialist state Assemblyman Zohran Mamdani, who has become one of top contenders in the race, found himself the target of jabs from former Governor Andrew Cuomo. Cuomo, who is in the midst of a political comeback after resigning as governor over a sexual harassment scandal, has long been the favorite.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:10):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Lisa Matteo. Here are the
top stories we're following today, Lisa.
Speaker 4 (00:16):
These major moves and global markets come after Israel launched
waves of air strikes against Iran's nuclear program overnight. The
operation targeted Iran's nuclear scientists and generals, killing a number
of high ranking military officials. Israeli Prime Minister Benjamin Natanyahu
announced the strikes in an overnight message.
Speaker 5 (00:34):
Israel will never allow those who call for our annihilation
to develop the means to achieve that goal. Tonight, Israel
backs those words with action. We struck at the heart
of Iran's nuclear enrichment program. We struck at the heart
of Iran's nuclear weaponization program. We targeted Iran's main enrichment
(00:55):
facility in Natan's We targeted Iran's leading nuclear scientists work
on the Iranian bomb. We also structed the heart of
Iran's ballistic missile program.
Speaker 4 (01:04):
The country's Defense Minister, Israel Katz, said he's declaring a
state of emergency after what he described as a preemptive
strike against Iran.
Speaker 3 (01:12):
Well, Nathan now comes the response from Iran Israel says
Iran launched over one hundred drones toward Israel and that
their air defense systems are responding. In a televised address,
Iran's Armed Force spokesperson said Israel and the US will
receive a quote harsh blow to Iran. University professor Muhammad
Mirandi says Iran has no other option.
Speaker 6 (01:33):
The only way forward is to make sure that this
Raeli regime regrets attacking Iran. Iranians and infrastructure that is
legitimate and which is monitored regularly.
Speaker 3 (01:46):
Professor Muhammed Morandi at Tehran University and Iranian state media
say the strikes killed the head of Iran's Revolutionary Guard
Corps and the military's chief of staff. At least two
other senior Revolutionary Guard Corps officials.
Speaker 2 (02:00):
We're also killed.
Speaker 4 (02:01):
And hours before the attack, Lisa. President Trump said he
hoped Israel would not strike Iran.
Speaker 7 (02:06):
Well, I don't want to say eminent, but it looks
like it's something that could very well happen. Look, it's
very simple, not complicated. Iran cannot have a nuclear weapon.
Other than that, I want them to be successful. I
want them to be Trum will help them be successful.
We'll trade with them. We'll do whatever is necessary.
Speaker 2 (02:24):
The President Trump's words appear to have gone unheeded.
Speaker 4 (02:26):
Secretary of State Marco Rubio put out a statement after
the attack saying the US was not involved and warned
Iran not to retaliate against American interest in the region. Later,
President Trump told Fox News he was not surprised at
the attack and said he had spoken with Prime Minister
Natanyahu several times in recent days. It's his reaction around
the world pours into the escalation Lisa. Former NATO Supreme
(02:48):
Allied Commander in Europe Wesley Clark says Israel forced America's hand.
Speaker 8 (02:53):
President Trump does not want a war, he said that,
but also he does not want on Iran to have
nuclear weapon. So I think Prime Minster Mill who has
taken the decision away from President Trump at this point.
Speaker 4 (03:07):
Retired General Wesley Clark spoke to Bloomberg overnight. These Israeli
strikes come after the US ordered some staff to leave
its embassy in Baghdad and authorized families of military service
members to move out of the Middle East.
Speaker 3 (03:18):
Only then we saw immediate major moves in the markets
following the attacks. At one point, oil surge thirteen percent.
Right now Brenkrud at seventy three dollars a barrel, up
about four percent. Defense stocks on the move this morning.
Shares of Lockeed Martin are up four percent, while North
Grumman are up two percent. Oil related stocks also rising.
We have Halliburton, Kinego, Phillips, and Schlumberger are at least
(03:40):
up four percent.
Speaker 4 (03:41):
Well, We'll continue to monitor the situation in the Middle East,
of course, Lisa, But let's move now to the latest
on the anti deportation protests in Los Angeles. The situation
does appear calmer now after three nights of curfews in
the downtown area where demonstrators had been clashing with police.
Last night, California Governor Gavin Newsom touted a legal victory
and his fight with President Trump overt National Guard deployments
(04:02):
in the city.
Speaker 9 (04:03):
Courts have ruled on the Guard. They will be back
under my command and he'll be relieved. Donald Trump were
believed of his command at noon tomorrow.
Speaker 4 (04:15):
On that comment from Governor Gavin Newsom may have come
too soon, though, a federal appeals court put the judge's
order on hold, allowing the Trump administration to continue using
the military to deal with the protests. Another hearing on
the case is now set for Tuesday.
Speaker 8 (04:29):
Well.
Speaker 3 (04:29):
Meantime, in India, investigators are searching the site of yesterday's
deadly Air India plane crash. Prime Minister Nerenda Mody Well
he met with the loan surviving passenger of the crash
that killed two hundred and forty one people on board
and several people on the ground. The London bound Boeing
seven eighty seven struck medical College hostels when it fell
into a residential area in northwestern India just minutes after takeoff.
(04:51):
Here is Air India CEO Campbell Wilson.
Speaker 10 (04:54):
I would like to experience our deep sorrow about this event.
This is a difficult day for all of US India
and if it's now focused entirely on the needs of passengers,
crew members, their families and loved ones.
Speaker 3 (05:08):
Air India CEO Campbell Wilson. Local media say at least
one of Boeing's Dreamliners black boxes had been found. It's
unclear whether that black box is a flight data or
cockpit voice recorder.
Speaker 4 (05:19):
Well back here in the US, Lisa local politics are
front and center in New York City once again, the
race for mayor is heating up, and last night, the
Democratic candidates held their second and final debate ahead of
this month's primary. Bloomberg's John Tucker's here at the round up.
Speaker 11 (05:34):
Good morning, John, Good morning Nathan. The thirty three year
old socialist state as semulman Johan Mamdani has become one
of the top contenders in the race. He also found
himself the target of jabs from former Governor Andrew Cuomo.
Speaker 10 (05:47):
I'm not mister Mandani, I'm not anti Semitic, I'm not divisive.
Speaker 6 (05:53):
I didn't say that would boycott Israel.
Speaker 11 (05:55):
Mumdani tried to knock Quomo off his perch atop the polls.
Speaker 12 (06:00):
Millions of dollars in funding from the very billionaires who
put Donald Trump back into office.
Speaker 11 (06:07):
And then City Controller Brent Lander took this shot against Cuomo.
Speaker 12 (06:12):
Everybody here knows that you sexually harassed women.
Speaker 11 (06:15):
Cuomo, who's in the midst of a political comeback after
resigning as governor over a sanxual harassment scandal, has long
been the favorite the city's Democratic mayoral primary June twenty fourth,
because in some ways narrowed into a contest between Cuomo
and Mom Danny. The winner of the Democratic primary is
going to face off in November against incumbent mayor Eric Adams,
who's opted to run as an independent. And in the
(06:38):
interest of disclosure, Michael Bloomberg, founder and majority owner of
Bloomberg LP, has endorsed CUOMO. I'm John Tucker, Bloomberg Radio.
Speaker 3 (06:45):
All right, thank you, John. Let'stener back to the markets now.
With a focus on tech. The CEO of Advanced micro
Devices says its latest AI processors can top and vidios.
At a company event yesterday in California, Lisa Sue said
the new installments in AMD's MY three fifty chip series
are faster than Nvidia counterparts and also represent major gains
(07:05):
over earlier versions. She expects the AI market to surpass
five hundred billion dollars in the next three years. AMD's
MI I four hundred series comes out next year.
Speaker 4 (07:15):
Yeah, and sticking with the AI theme, Lisa. Meta Platforms
has finalized it's fourteen point three billion dollar investment in
Scale AI and has recruited the startup.
Speaker 2 (07:24):
CEO.
Speaker 4 (07:25):
Scale's Alexander Wang will join Meta's super intelligence unit we
told you about earlier this week, focused on building AI
that performs as well as humans. Wang will also remain
a board member at Scale. This is all part of
Meta CEO Mark Zuckerberg's efforts to make AI a top priority.
He's earmarked tens of billions of dollars for artificial intelligence
(07:46):
related infrastructure and hiring.
Speaker 3 (07:51):
Now for a look at some of the other stories
making news in New York and around the world. For that,
we're joined by Bloomberg's Michael bar Good morning, Michael, Good.
Speaker 13 (07:57):
Morning, Lisa. The judge in Harvey Weinstein sex crimes reed
trial declared a mistrial on the remaining charge after the
jury four person declined to deliberate again. The jury found
the former movie mogul guilty of one criminal sex act,
but not guilty on another. Manhattan District Attorney Alvin Brag
says his office is ready to go again.
Speaker 2 (08:18):
We immediately informed.
Speaker 13 (08:19):
The court, so we are ready to go forward to
trial again on that charge. After conferring with just Command,
Einstein denies all the charges. In the middle of his
sex trafficking and racketeering trial, a new lawsuit has been
filed against Sean Diddy Combs. A former girlfriend is now suing,
alleging she was coerced into traveling to see the rap
(08:40):
mogul and having sex with him. Reaction continues after a
US senator was forcibly removed from a news conference. Alex
Padilla of California interrupted a news conference in Los Angeles
being given by Homeland Security Secretary Christinome. Senator Badilla approached
the podium, was stopped by security, and then put pushed
outside and handcuffed. Reaction from both sides of the political
(09:04):
lieout has been swift. Democrats criticized the move, and Senator
Badiaz says this was indicative of overly harsh tactics.
Speaker 2 (09:13):
I was there peacefully.
Speaker 13 (09:14):
At one point I had a question, and so I
began to ask a question. I was almost immediately forcibly
removed from the room.
Speaker 2 (09:24):
I was forced to the ground.
Speaker 14 (09:26):
Secretary Nome, I don't even know the senator. He did
not request a meeting with me or to speak with me.
So when I leave here, I'll have a conversation with
him and visit and find out really what his concerns were.
I think everybody in America would agree that that wasn't appropriate.
Speaker 13 (09:41):
Padilla says he tried to ask Noome about people arrested
with no criminal record. Global News twenty four hours a
day and whatever you wanted with Bloomberg News Now Michael
Barr and this is Bloomberg Lisa.
Speaker 3 (09:52):
Thank you, Michael. Time now for a Bloomberg Sports update.
For that, we bring in John stash Out.
Speaker 2 (10:01):
Good morning John, Good morning les.
Speaker 1 (10:02):
So the ratings have not been good, but people are
missing a heck of a Stanley Cup final and there'll
be at least two more games, maybe three. The third
overtime game of the series didn't look that way when
Florida led three nothing in the second period. Edmonton then
led four to three in the final minute of regulation
when the Panthers Sam Reinard tied the game, so it
was once again off to sudden depth.
Speaker 2 (10:24):
Breaking three is try suddle to the next.
Speaker 12 (10:26):
Sid play on try suddle Chris time this series, what
is fourth oh t Winter of the Playoffs Final star
Edmonton five Florida four in fine over time.
Speaker 1 (10:46):
Jack Michaels is the radio voice of the Oilers, Dry
titles four overtime goals as a record. He's at two
in this series.
Speaker 2 (10:54):
At two to two.
Speaker 1 (10:55):
They're heading back to Western Canada for Game five tomorrow.
Game four of the NBA Finals tonight, Indiana up to one,
hosting Oklahoma City. JJ Spawn thirty four years old, yet
he's never finished the top twenty of a major. Had
only qualified to play the US Open once before, in
twenty twenty one.
Speaker 2 (11:10):
Spawn for a bogie free four under par.
Speaker 1 (11:13):
Sixty six to leave the US Open at Oakmont by
one shot. Two time Open winner brooks Keepka, who's been
quiet in recent years, only two shots behind. Scottie Schefler,
had six bogies, shot three over. Rory McElroy had a
forty one on the front nine. He is plus four.
Yankees and Royals sat through a rain delay in cac
but finished the series with The Yanks.
Speaker 2 (11:31):
Scored an unearned run of the eighth inning to win one.
Speaker 1 (11:34):
Nothing so A. Yankee sweeped their second against the Royals.
They played tonight in Boston. Dropped two of three of
the Red Sox. Last weekend in New York, Matt's finished
a sweep of the Nationals four to three, improving to twenty.
Speaker 2 (11:44):
Seven and seven.
Speaker 1 (11:46):
At City Field, Jeff McNeil three run homer in the
first enning, Brandon Nimo solo shot in the fifth.
Speaker 2 (11:50):
Code I Senga got the.
Speaker 1 (11:51):
Win, but heard his hamstring and Senga was put on
the injured list, John Stshawer, Bloomberg Sports, Lisa and Nathan
coast to coast on Bloomberg Radio, nationwide on Sirius Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business app.
Speaker 2 (12:08):
This is Bloomberg Daybreak. Good morning. I'm Nathan Hager.
Speaker 4 (12:11):
On the morning after a major escalation in the ongoing
conflicts in the Middle East. Overnight, Israel launched a wave
of attacks on Iran's nuclear and ballistic missile programs in
what Prime Minister Benjamin Natanyahu is calling Operation Rising Lion.
Speaker 5 (12:25):
I was Prime Minister, I've made it clear time it again.
Israel will never allow those who call for our annihilation
to develop the means to achieve that goal. Tonight, Israel
backs those words.
Speaker 4 (12:39):
With action, Israeli Prime Minister Benjamin Natanya, who spoke in
an overnight addressed to his nation last night. This morning,
we are joined from our London studios by Bloomberg News
Jerusalem correspondent Dan Williams and Bloomberg Horizons anchor Jumana Bursechi.
Speaker 2 (12:52):
Thanks to both of you for being with us.
Speaker 4 (12:54):
Dan, I'll start with you, what do we know so
far about the extent of the attack and the damaged
Good morning.
Speaker 15 (13:01):
Good morning.
Speaker 2 (13:01):
This was certainly unprecedented.
Speaker 15 (13:03):
It was certainly wide scale, I think, to judge by
what these readies are saying, there's more to be done
as far as they're concerned. The primary target was the
Iranian nuclear program, which they say was on the verge
of a potentially irreversible development in.
Speaker 2 (13:17):
The direction of weaponization.
Speaker 15 (13:20):
However, they also targeted senior personnel, both from the nuclear
program and from the military, the chief of staff they
had of the IOGC. This is something that everyone was
expecting on a strategic, perhaps theoretical level, going back almost
twenty years, there was a time when many speculated that
Israel was actually bluffing about doing this, given operational limitations
(13:40):
and the like. Now it appears that Israel has delivered
and is prepared to deliver even more.
Speaker 4 (13:45):
Perhaps not a surprise in terms of whether this would come,
but maybe a surprise in terms of how quickly it
might have come at this point. Jumana, what is the
risk of wider war now? What is the risk of
retaliation from Iran?
Speaker 16 (14:00):
There's definitely a major risk of retaliation from Iran. They
have vowed to fight back, and the response would be
quite harsh in nature. But then you also have to
acknowledge the fact that the Iranian regime is clearly on
the back foot. Several of their very senior commanders were
taken out on this strike. Many of their main facilities,
(14:22):
NUCRE facilities were hit. But I should also just reiterate
not entirely defunct now they have been damaged. But this
is why on the Israeli side, they're saying that there
is more work to be done so that they can
ensure that Iran don't go down the route of further
nuclear enrichment. But then there are several ways Iran could response.
(14:43):
They sent over one hundred drones this morning, most of
them intercepted, it caused them to damage. They could also
start mobilizing their proxies around the region. There were some
concerns that you might start seeing attacks come through from
Syria and from Jordan. Earlier this morning their reports that
again several drones were shot down over Jordanian airspace as
well in Lebanon. There's concern that perhaps they would look
(15:05):
to reactivate Hezballah. But all of these proxies are operating
in a diminished capacity, with many of their military and
also influence waning in the region given the events of
the last couple of months.
Speaker 2 (15:18):
But one also factor.
Speaker 16 (15:19):
That we've been talking about that's very crucial for global
markets is perhaps what Iran could do on the oil
front and potentially causing disruptions on the straits of Hormos,
which is why initially you saw that ten percent plus
reaction in the price of oil today so far though
no oil infrastructure has been had.
Speaker 4 (15:36):
Now we have also heard from Iran that they're saying
that Israel could not have carried out an attack like
this without either US coordination or US support in terms
of backing of support for Israel. Dan, what was Israel
saying at this point about US potential involvement in what's
(15:57):
been going on here.
Speaker 15 (15:59):
I think there's a pro forma at least effort by
both the allies to place daylight between themselves when it
comes to this strike. However, there are geographical realities that
are inescapable and unignorable. Israeli planes would have to traverse
one at least a cent COOM member country sent COOM
being the US military command involving countries like Saudi Arabia,
(16:21):
the Gulf principalities, and it's safe to assume that Sentcom
would have been aware of the planes coming in. Those
countries would have been aware and at least gave tacit
assent to these planes conducting the mission. There's also the
issue of diplomatic cover defense cover. There's a big difference
between the Americans saying they had no knowledge of this
and actually putting their foot down and perhaps imposing sanctions
(16:43):
if they were truly opposed to it. For now, there's
every indication they were not opposed to it. They were
seeking to diss themselves, perhaps sit on a fence. The
big test I think is if and when the Iranian escalation,
sorry the Ranian retaliation escalates, whether Israel be left to
fend for itself alone, whether the United States and other
partner countries will step up assists in defense as they
(17:05):
did twice last year.
Speaker 4 (17:07):
What about the possibility of other parties in the Middle
East getting involved in this conflict Jumana.
Speaker 2 (17:16):
Is there a risk of that?
Speaker 16 (17:17):
I think it was really notable this morning that one
of the first foreign ministries that put out a statement
was the Kingdom of Saudi Arabia. And of course we
have to go back to twenty nineteen. You will recall
that there was a healthy attack on Upcake, which is
one of the key mid refineries in Saudi Arabia, in
(17:38):
response to global tensions at the time, and there has
been a notable improvement in the diplomatic relationship between Saudi
Arabia and Iran since then. That was broken together by
China in March of twenty twenty three, and since then,
what Saudi Arabia had been consistently saying is they want
to see de escalation in the region. And so this
(17:58):
morning they put out at the Foreign Ministry put out
a statement saying that they condemn these attacks and once
again would like to see the region de escalating. UAE
similar tone as well, so from other major Gulf Arab states.
What you are seeing is an inclination to make things better,
to bring down the temperature, as opposed to add fuel
(18:19):
to flyer. But of course if there is, if there
are further attacks on Israeli soil, then there's gonna be
a question as to which countries in the region may
offer their airspace or may look to implicitly allow that
to happen. And I think we are entering into a
critical couple of days now to see exactly how Saudi
(18:41):
Arabia UAE Katar will respond if Iran continues along the
lines of retaliation and as they have vow to do so.
Speaker 4 (18:49):
Dan, we have about a minute left. Is there a
political dimension to this? We just saw Israeli Prime Minister
NETANYAHUO survive a vote to dissolve his government this week.
Speaker 2 (19:00):
I think this certainly is.
Speaker 15 (19:01):
There may even have been low scale US intervention in
that political crisis to persuade coalition members who thought of
leaving the coalition this was not the time to do that,
hinting that there were strategic matters afoot. Certainly, if this succeeds,
and time will tell if it has, this will help
his standing. It's worth remembering that he's largely shaped his
(19:22):
legacy around the question of Iran, which Israel sees as
its chief adversary, the chief threat to its existence. And
if this succeeds in Israeli terms, that may be enough
to polish his legacy, which was severely dented by the
October seventh attack, which really set into motion this entire
regional war.
Speaker 4 (19:40):
This is Bloomberg Daybreak, your Morning podcast on the story's
making news from Wall Street to Washington and beyond.
Speaker 3 (19:46):
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Speaker 4 (19:53):
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Speaker 3 (20:07):
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Speaker 17 (20:13):
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Speaker 2 (20:23):
To stay informed all day long. I'm Nathan Hager and.
Speaker 3 (20:26):
I'm Lisa Matteo. Join us again tomorrow morning for all
the news you need to start your day right here
on Bloomberg Daybreak
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:10):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Lisa Matteo. Here are the
top stories we're following today, Lisa.
Speaker 4 (00:16):
These major moves and global markets come after Israel launched
waves of air strikes against Iran's nuclear program overnight. The
operation targeted Iran's nuclear scientists and generals, killing a number
of high ranking military officials. Israeli Prime Minister Benjamin Natanyahu
announced the strikes in an overnight message.
Speaker 5 (00:34):
Israel will never allow those who call for our annihilation
to develop the means to achieve that goal. Tonight, Israel
backs those words with action. We struck at the heart
of Iran's nuclear enrichment program. We struck at the heart
of Iran's nuclear weaponization program. We targeted Iran's main enrichment
(00:55):
facility in Natan's We targeted Iran's leading nuclear scientists work
on the Iranian bomb. We also structed the heart of
Iran's ballistic missile program.
Speaker 4 (01:04):
The country's Defense Minister, Israel Katz, said he's declaring a
state of emergency after what he described as a preemptive
strike against Iran.
Speaker 3 (01:12):
Well, Nathan now comes the response from Iran Israel says
Iran launched over one hundred drones toward Israel and that
their air defense systems are responding. In a televised address,
Iran's Armed Force spokesperson said Israel and the US will
receive a quote harsh blow to Iran. University professor Muhammad
Mirandi says Iran has no other option.
Speaker 6 (01:33):
The only way forward is to make sure that this
Raeli regime regrets attacking Iran. Iranians and infrastructure that is
legitimate and which is monitored regularly.
Speaker 3 (01:46):
Professor Muhammed Morandi at Tehran University and Iranian state media
say the strikes killed the head of Iran's Revolutionary Guard
Corps and the military's chief of staff. At least two
other senior Revolutionary Guard Corps officials.
Speaker 2 (02:00):
We're also killed.
Speaker 4 (02:01):
And hours before the attack, Lisa. President Trump said he
hoped Israel would not strike Iran.
Speaker 7 (02:06):
Well, I don't want to say eminent, but it looks
like it's something that could very well happen. Look, it's
very simple, not complicated. Iran cannot have a nuclear weapon.
Other than that, I want them to be successful. I
want them to be Trum will help them be successful.
We'll trade with them. We'll do whatever is necessary.
Speaker 2 (02:24):
The President Trump's words appear to have gone unheeded.
Speaker 4 (02:26):
Secretary of State Marco Rubio put out a statement after
the attack saying the US was not involved and warned
Iran not to retaliate against American interest in the region. Later,
President Trump told Fox News he was not surprised at
the attack and said he had spoken with Prime Minister
Natanyahu several times in recent days. It's his reaction around
the world pours into the escalation Lisa. Former NATO Supreme
(02:48):
Allied Commander in Europe Wesley Clark says Israel forced America's hand.
Speaker 8 (02:53):
President Trump does not want a war, he said that,
but also he does not want on Iran to have
nuclear weapon. So I think Prime Minster Mill who has
taken the decision away from President Trump at this point.
Speaker 4 (03:07):
Retired General Wesley Clark spoke to Bloomberg overnight. These Israeli
strikes come after the US ordered some staff to leave
its embassy in Baghdad and authorized families of military service
members to move out of the Middle East.
Speaker 3 (03:18):
Only then we saw immediate major moves in the markets
following the attacks. At one point, oil surge thirteen percent.
Right now Brenkrud at seventy three dollars a barrel, up
about four percent. Defense stocks on the move this morning.
Shares of Lockeed Martin are up four percent, while North
Grumman are up two percent. Oil related stocks also rising.
We have Halliburton, Kinego, Phillips, and Schlumberger are at least
(03:40):
up four percent.
Speaker 4 (03:41):
Well, We'll continue to monitor the situation in the Middle East,
of course, Lisa, But let's move now to the latest
on the anti deportation protests in Los Angeles. The situation
does appear calmer now after three nights of curfews in
the downtown area where demonstrators had been clashing with police.
Last night, California Governor Gavin Newsom touted a legal victory
and his fight with President Trump overt National Guard deployments
(04:02):
in the city.
Speaker 9 (04:03):
Courts have ruled on the Guard. They will be back
under my command and he'll be relieved. Donald Trump were
believed of his command at noon tomorrow.
Speaker 4 (04:15):
On that comment from Governor Gavin Newsom may have come
too soon, though, a federal appeals court put the judge's
order on hold, allowing the Trump administration to continue using
the military to deal with the protests. Another hearing on
the case is now set for Tuesday.
Speaker 8 (04:29):
Well.
Speaker 3 (04:29):
Meantime, in India, investigators are searching the site of yesterday's
deadly Air India plane crash. Prime Minister Nerenda Mody Well
he met with the loan surviving passenger of the crash
that killed two hundred and forty one people on board
and several people on the ground. The London bound Boeing
seven eighty seven struck medical College hostels when it fell
into a residential area in northwestern India just minutes after takeoff.
(04:51):
Here is Air India CEO Campbell Wilson.
Speaker 10 (04:54):
I would like to experience our deep sorrow about this event.
This is a difficult day for all of US India
and if it's now focused entirely on the needs of passengers,
crew members, their families and loved ones.
Speaker 3 (05:08):
Air India CEO Campbell Wilson. Local media say at least
one of Boeing's Dreamliners black boxes had been found. It's
unclear whether that black box is a flight data or
cockpit voice recorder.
Speaker 4 (05:19):
Well back here in the US, Lisa local politics are
front and center in New York City once again, the
race for mayor is heating up, and last night, the
Democratic candidates held their second and final debate ahead of
this month's primary. Bloomberg's John Tucker's here at the round up.
Speaker 11 (05:34):
Good morning, John, Good morning Nathan. The thirty three year
old socialist state as semulman Johan Mamdani has become one
of the top contenders in the race. He also found
himself the target of jabs from former Governor Andrew Cuomo.
Speaker 10 (05:47):
I'm not mister Mandani, I'm not anti Semitic, I'm not divisive.
Speaker 6 (05:53):
I didn't say that would boycott Israel.
Speaker 11 (05:55):
Mumdani tried to knock Quomo off his perch atop the polls.
Speaker 12 (06:00):
Millions of dollars in funding from the very billionaires who
put Donald Trump back into office.
Speaker 11 (06:07):
And then City Controller Brent Lander took this shot against Cuomo.
Speaker 12 (06:12):
Everybody here knows that you sexually harassed women.
Speaker 11 (06:15):
Cuomo, who's in the midst of a political comeback after
resigning as governor over a sanxual harassment scandal, has long
been the favorite the city's Democratic mayoral primary June twenty fourth,
because in some ways narrowed into a contest between Cuomo
and Mom Danny. The winner of the Democratic primary is
going to face off in November against incumbent mayor Eric Adams,
who's opted to run as an independent. And in the
(06:38):
interest of disclosure, Michael Bloomberg, founder and majority owner of
Bloomberg LP, has endorsed CUOMO. I'm John Tucker, Bloomberg Radio.
Speaker 3 (06:45):
All right, thank you, John. Let'stener back to the markets now.
With a focus on tech. The CEO of Advanced micro
Devices says its latest AI processors can top and vidios.
At a company event yesterday in California, Lisa Sue said
the new installments in AMD's MY three fifty chip series
are faster than Nvidia counterparts and also represent major gains
(07:05):
over earlier versions. She expects the AI market to surpass
five hundred billion dollars in the next three years. AMD's
MI I four hundred series comes out next year.
Speaker 4 (07:15):
Yeah, and sticking with the AI theme, Lisa. Meta Platforms
has finalized it's fourteen point three billion dollar investment in
Scale AI and has recruited the startup.
Speaker 2 (07:24):
CEO.
Speaker 4 (07:25):
Scale's Alexander Wang will join Meta's super intelligence unit we
told you about earlier this week, focused on building AI
that performs as well as humans. Wang will also remain
a board member at Scale. This is all part of
Meta CEO Mark Zuckerberg's efforts to make AI a top priority.
He's earmarked tens of billions of dollars for artificial intelligence
(07:46):
related infrastructure and hiring.
Speaker 3 (07:51):
Now for a look at some of the other stories
making news in New York and around the world. For that,
we're joined by Bloomberg's Michael bar Good morning, Michael, Good.
Speaker 13 (07:57):
Morning, Lisa. The judge in Harvey Weinstein sex crimes reed
trial declared a mistrial on the remaining charge after the
jury four person declined to deliberate again. The jury found
the former movie mogul guilty of one criminal sex act,
but not guilty on another. Manhattan District Attorney Alvin Brag
says his office is ready to go again.
Speaker 2 (08:18):
We immediately informed.
Speaker 13 (08:19):
The court, so we are ready to go forward to
trial again on that charge. After conferring with just Command,
Einstein denies all the charges. In the middle of his
sex trafficking and racketeering trial, a new lawsuit has been
filed against Sean Diddy Combs. A former girlfriend is now suing,
alleging she was coerced into traveling to see the rap
(08:40):
mogul and having sex with him. Reaction continues after a
US senator was forcibly removed from a news conference. Alex
Padilla of California interrupted a news conference in Los Angeles
being given by Homeland Security Secretary Christinome. Senator Badilla approached
the podium, was stopped by security, and then put pushed
outside and handcuffed. Reaction from both sides of the political
(09:04):
lieout has been swift. Democrats criticized the move, and Senator
Badiaz says this was indicative of overly harsh tactics.
Speaker 2 (09:13):
I was there peacefully.
Speaker 13 (09:14):
At one point I had a question, and so I
began to ask a question. I was almost immediately forcibly
removed from the room.
Speaker 2 (09:24):
I was forced to the ground.
Speaker 14 (09:26):
Secretary Nome, I don't even know the senator. He did
not request a meeting with me or to speak with me.
So when I leave here, I'll have a conversation with
him and visit and find out really what his concerns were.
I think everybody in America would agree that that wasn't appropriate.
Speaker 13 (09:41):
Padilla says he tried to ask Noome about people arrested
with no criminal record. Global News twenty four hours a
day and whatever you wanted with Bloomberg News Now Michael
Barr and this is Bloomberg Lisa.
Speaker 3 (09:52):
Thank you, Michael. Time now for a Bloomberg Sports update.
For that, we bring in John stash Out.
Speaker 2 (10:01):
Good morning John, Good morning les.
Speaker 1 (10:02):
So the ratings have not been good, but people are
missing a heck of a Stanley Cup final and there'll
be at least two more games, maybe three. The third
overtime game of the series didn't look that way when
Florida led three nothing in the second period. Edmonton then
led four to three in the final minute of regulation
when the Panthers Sam Reinard tied the game, so it
was once again off to sudden depth.
Speaker 2 (10:24):
Breaking three is try suddle to the next.
Speaker 12 (10:26):
Sid play on try suddle Chris time this series, what
is fourth oh t Winter of the Playoffs Final star
Edmonton five Florida four in fine over time.
Speaker 1 (10:46):
Jack Michaels is the radio voice of the Oilers, Dry
titles four overtime goals as a record. He's at two
in this series.
Speaker 2 (10:54):
At two to two.
Speaker 1 (10:55):
They're heading back to Western Canada for Game five tomorrow.
Game four of the NBA Finals tonight, Indiana up to one,
hosting Oklahoma City. JJ Spawn thirty four years old, yet
he's never finished the top twenty of a major. Had
only qualified to play the US Open once before, in
twenty twenty one.
Speaker 2 (11:10):
Spawn for a bogie free four under par.
Speaker 1 (11:13):
Sixty six to leave the US Open at Oakmont by
one shot. Two time Open winner brooks Keepka, who's been
quiet in recent years, only two shots behind. Scottie Schefler,
had six bogies, shot three over. Rory McElroy had a
forty one on the front nine. He is plus four.
Yankees and Royals sat through a rain delay in cac
but finished the series with The Yanks.
Speaker 2 (11:31):
Scored an unearned run of the eighth inning to win one.
Speaker 1 (11:34):
Nothing so A. Yankee sweeped their second against the Royals.
They played tonight in Boston. Dropped two of three of
the Red Sox. Last weekend in New York, Matt's finished
a sweep of the Nationals four to three, improving to twenty.
Speaker 2 (11:44):
Seven and seven.
Speaker 1 (11:46):
At City Field, Jeff McNeil three run homer in the
first enning, Brandon Nimo solo shot in the fifth.
Speaker 2 (11:50):
Code I Senga got the.
Speaker 1 (11:51):
Win, but heard his hamstring and Senga was put on
the injured list, John Stshawer, Bloomberg Sports, Lisa and Nathan
coast to coast on Bloomberg Radio, nationwide on Sirius Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business app.
Speaker 2 (12:08):
This is Bloomberg Daybreak. Good morning. I'm Nathan Hager.
Speaker 4 (12:11):
On the morning after a major escalation in the ongoing
conflicts in the Middle East. Overnight, Israel launched a wave
of attacks on Iran's nuclear and ballistic missile programs in
what Prime Minister Benjamin Natanyahu is calling Operation Rising Lion.
Speaker 5 (12:25):
I was Prime Minister, I've made it clear time it again.
Israel will never allow those who call for our annihilation
to develop the means to achieve that goal. Tonight, Israel
backs those words.
Speaker 4 (12:39):
With action, Israeli Prime Minister Benjamin Natanya, who spoke in
an overnight addressed to his nation last night. This morning,
we are joined from our London studios by Bloomberg News
Jerusalem correspondent Dan Williams and Bloomberg Horizons anchor Jumana Bursechi.
Speaker 2 (12:52):
Thanks to both of you for being with us.
Speaker 4 (12:54):
Dan, I'll start with you, what do we know so
far about the extent of the attack and the damaged
Good morning.
Speaker 15 (13:01):
Good morning.
Speaker 2 (13:01):
This was certainly unprecedented.
Speaker 15 (13:03):
It was certainly wide scale, I think, to judge by
what these readies are saying, there's more to be done
as far as they're concerned. The primary target was the
Iranian nuclear program, which they say was on the verge
of a potentially irreversible development in.
Speaker 2 (13:17):
The direction of weaponization.
Speaker 15 (13:20):
However, they also targeted senior personnel, both from the nuclear
program and from the military, the chief of staff they
had of the IOGC. This is something that everyone was
expecting on a strategic, perhaps theoretical level, going back almost
twenty years, there was a time when many speculated that
Israel was actually bluffing about doing this, given operational limitations
(13:40):
and the like. Now it appears that Israel has delivered
and is prepared to deliver even more.
Speaker 4 (13:45):
Perhaps not a surprise in terms of whether this would come,
but maybe a surprise in terms of how quickly it
might have come at this point. Jumana, what is the
risk of wider war now? What is the risk of
retaliation from Iran?
Speaker 16 (14:00):
There's definitely a major risk of retaliation from Iran. They
have vowed to fight back, and the response would be
quite harsh in nature. But then you also have to
acknowledge the fact that the Iranian regime is clearly on
the back foot. Several of their very senior commanders were
taken out on this strike. Many of their main facilities,
(14:22):
NUCRE facilities were hit. But I should also just reiterate
not entirely defunct now they have been damaged. But this
is why on the Israeli side, they're saying that there
is more work to be done so that they can
ensure that Iran don't go down the route of further
nuclear enrichment. But then there are several ways Iran could response.
(14:43):
They sent over one hundred drones this morning, most of
them intercepted, it caused them to damage. They could also
start mobilizing their proxies around the region. There were some
concerns that you might start seeing attacks come through from
Syria and from Jordan. Earlier this morning their reports that
again several drones were shot down over Jordanian airspace as
well in Lebanon. There's concern that perhaps they would look
(15:05):
to reactivate Hezballah. But all of these proxies are operating
in a diminished capacity, with many of their military and
also influence waning in the region given the events of
the last couple of months.
Speaker 2 (15:18):
But one also factor.
Speaker 16 (15:19):
That we've been talking about that's very crucial for global
markets is perhaps what Iran could do on the oil
front and potentially causing disruptions on the straits of Hormos,
which is why initially you saw that ten percent plus
reaction in the price of oil today so far though
no oil infrastructure has been had.
Speaker 4 (15:36):
Now we have also heard from Iran that they're saying
that Israel could not have carried out an attack like
this without either US coordination or US support in terms
of backing of support for Israel. Dan, what was Israel
saying at this point about US potential involvement in what's
(15:57):
been going on here.
Speaker 15 (15:59):
I think there's a pro forma at least effort by
both the allies to place daylight between themselves when it
comes to this strike. However, there are geographical realities that
are inescapable and unignorable. Israeli planes would have to traverse
one at least a cent COOM member country sent COOM
being the US military command involving countries like Saudi Arabia,
(16:21):
the Gulf principalities, and it's safe to assume that Sentcom
would have been aware of the planes coming in. Those
countries would have been aware and at least gave tacit
assent to these planes conducting the mission. There's also the
issue of diplomatic cover defense cover. There's a big difference
between the Americans saying they had no knowledge of this
and actually putting their foot down and perhaps imposing sanctions
(16:43):
if they were truly opposed to it. For now, there's
every indication they were not opposed to it. They were
seeking to diss themselves, perhaps sit on a fence. The
big test I think is if and when the Iranian escalation,
sorry the Ranian retaliation escalates, whether Israel be left to
fend for itself alone, whether the United States and other
partner countries will step up assists in defense as they
(17:05):
did twice last year.
Speaker 4 (17:07):
What about the possibility of other parties in the Middle
East getting involved in this conflict Jumana.
Speaker 2 (17:16):
Is there a risk of that?
Speaker 16 (17:17):
I think it was really notable this morning that one
of the first foreign ministries that put out a statement
was the Kingdom of Saudi Arabia. And of course we
have to go back to twenty nineteen. You will recall
that there was a healthy attack on Upcake, which is
one of the key mid refineries in Saudi Arabia, in
(17:38):
response to global tensions at the time, and there has
been a notable improvement in the diplomatic relationship between Saudi
Arabia and Iran since then. That was broken together by
China in March of twenty twenty three, and since then,
what Saudi Arabia had been consistently saying is they want
to see de escalation in the region. And so this
(17:58):
morning they put out at the Foreign Ministry put out
a statement saying that they condemn these attacks and once
again would like to see the region de escalating. UAE
similar tone as well, so from other major Gulf Arab states.
What you are seeing is an inclination to make things better,
to bring down the temperature, as opposed to add fuel
(18:19):
to flyer. But of course if there is, if there
are further attacks on Israeli soil, then there's gonna be
a question as to which countries in the region may
offer their airspace or may look to implicitly allow that
to happen. And I think we are entering into a
critical couple of days now to see exactly how Saudi
(18:41):
Arabia UAE Katar will respond if Iran continues along the
lines of retaliation and as they have vow to do so.
Speaker 4 (18:49):
Dan, we have about a minute left. Is there a
political dimension to this? We just saw Israeli Prime Minister
NETANYAHUO survive a vote to dissolve his government this week.
Speaker 2 (19:00):
I think this certainly is.
Speaker 15 (19:01):
There may even have been low scale US intervention in
that political crisis to persuade coalition members who thought of
leaving the coalition this was not the time to do that,
hinting that there were strategic matters afoot. Certainly, if this succeeds,
and time will tell if it has, this will help
his standing. It's worth remembering that he's largely shaped his
(19:22):
legacy around the question of Iran, which Israel sees as
its chief adversary, the chief threat to its existence. And
if this succeeds in Israeli terms, that may be enough
to polish his legacy, which was severely dented by the
October seventh attack, which really set into motion this entire
regional war.
Speaker 4 (19:40):
This is Bloomberg Daybreak, your Morning podcast on the story's
making news from Wall Street to Washington and beyond.
Speaker 3 (19:46):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 4 (19:53):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg ninety nine one in Washington, Bloomberg
ninety two nine in Boston, and nationwide I'm Serious XM
Channel one twenty one.
Speaker 3 (20:07):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android Auto Winterfaces.
Speaker 17 (20:13):
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 on your favorite podcast platform.
Speaker 2 (20:23):
To stay informed all day long. I'm Nathan Hager and.
Speaker 3 (20:26):
I'm Lisa Matteo. Join us again tomorrow morning for all
the news you need to start your day right here
on Bloomberg Daybreak
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