August 19, 2025 • 17 mins
On today's podcast:
1) President Trump pushes for a Putin-Zelenskiy meeting after yesterday's high stakes gathering at the White House. US and European officials started work on bolstering Ukraine's military as part of a package of security guarantees. The guarantees are aimed at allowing Ukraine to boost troop numbers without limitations, according to people familiar with the matter.
2) The Trump administration considers buying a 10% stake in Intel. The US government and SoftBank Group Corp. see potential for a turnaround at Intel, with the government valuing the company's manufacturing prowess and SoftBank valuing its chip design operations.
3) Earnings from the nation's biggest retailers kick off today as traders keep an eye on what Jay Powell will deliver from Jackson Hole.
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Transcript
Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning. I'm Lisa Matteo and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:16):
Karen, we begin with the latest efforts for a piece
deal between Russia and Ukraine. President Trump called the Vladimir
Putin and urged the Russian leader to begin making plans
for a summit with Vladimir Zlynsky.
Speaker 4 (00:27):
The proposal, which.
Speaker 3 (00:28):
President Trump pitched as a one on one summit between
Ukraine and Russia's leaders, would be followed by a tri
later gathering involving all three. Here's Lensky, President Trump, UK
Prime Minister kir Stormer, and French President Macrone at the
White House. Is heard right here on Bloomberg Radio yesterday.
Speaker 5 (00:45):
We need to stove this word to stop Russia, and
we need support American and European.
Speaker 6 (00:50):
Batist muld Awa best for this.
Speaker 7 (00:54):
If everything works out well today, we'll have a try, Lad,
and I think there will be a reasonable chance of ending.
Speaker 8 (01:00):
The war when we do that.
Speaker 9 (01:01):
The Coalition of Willing Countries that's thirty countries already working
together on security guarantees, will now work with the US
on those guarantees.
Speaker 10 (01:10):
My hope is that the United States do the most
possible because that's what will allow us to alleviate the
burden on Europe, and that the United States also confirm
its commitments because that was a big question mark.
Speaker 3 (01:20):
Well, that was French President Macron, UK Prime Minister Starmer,
Presidents Trump and Zelensky speaking at the White House yesterday.
Speaker 2 (01:26):
Only so Secretary of State Marco Rubio is hopeful negotiations
will begin between Russia and Ukraine. He spoke to Fox
News after the White House gathering.
Speaker 11 (01:36):
Now, the President suggested that Zelensky and Putin meet, so
we're working on that now to try to set that
up for them to meet somewhere, which again would be unprecedented,
and then if that goes well, hopefully the next meeting
will be a meeting between Presidents Putin, Trump and Zelensky
where we hope to finalize a deal. We're not there yet,
but that's what we're aiming towards, and that's one of
the things that was discussed today is how to get
(01:57):
to that point.
Speaker 2 (01:58):
Marco Rubio, speaking of Fun News, European officials say they
expect another virtual meeting with President Trump as soon as
today to discuss what security guarantees they could collectively offered
to Kiev.
Speaker 3 (02:10):
Okay, and it still remains to be seen if when
Zelenski and Putin will meet. Stephanie Baker is a senior
writer at Bloomberg News and also author of Punishing Putin
Inside the Global Economic War to bring Down Russia.
Speaker 9 (02:22):
What Marco Rubio, the Secretary of State, has been saying
is that that that talks to set that meeting up
are actively in the works. Putin has tried to avoid
this by saying certain conditions need to be met before
they sit down together, and those conditions are really a
buzzword for that Ukraine needs to give up territory or
(02:46):
agree to give up territory, which Zelensky's not going to do.
Speaker 8 (02:50):
So I think that.
Speaker 9 (02:51):
There are hurdles to setting up that meeting, and it
does look to me that Putin may be playing for
time again. But you know, maybe under the pressure from Trump,
you know, Putin will indeed agree to sit down, But
I think he's going to demand an awful lot in
the talks ahead of time Well Bloomberg.
Speaker 3 (03:13):
Stephanie Baker now German Chancellor Fridrick Meertzi said that a
possible Putin's and Lensky summit. Well, that could take place
within two weeks.
Speaker 2 (03:21):
Lisa, the Trump administration is weighing taking a ten percent
steak in Intel, which would make the US government the
chip maker's largest shareholder. Sources say the plan could involve
converting Intel's ten point nine billion dollars in ships at
grants into equity. Begin more from Bloomberg's Ryan Gould.
Speaker 5 (03:39):
I think this is as much about ensuring Intel's longevity
in terms of what the United States government thinks of
as national security. I think this is an evolving situation,
and we should caution that these plans are still very
much in flux. They're very fluid.
Speaker 2 (03:51):
Bloomberg's Ryan Gould. At Intel's current market value, a ten
percent steak in the shipmaker would be worth about ten
and a half billion dollars.
Speaker 3 (04:00):
Well, meanwhile, SoftBank has agreed to buy two billion dollars
in Intel. Now, it's a move that extends a Japanese
company's US investment effort and offers a vote of confidence
in the struggling chip maker. Shares of Intel there up
about six percent in early trading.
Speaker 2 (04:14):
And Lisa, there is more major news this morning involving
the chip sector Routers is reporting in videos developing an
AI chips specifically for China, which will be more powerful
than the H twenty model. Reuters says in video hopes
to deliver samples to Chinese clients for testing as early
as next month. However, US regulatory approval is not guaranteed.
Speaker 3 (04:34):
And presidents from sweeping tariffs have royal markets, unnerved trade
partners and provoke criticism from leading economists.
Speaker 4 (04:40):
But there is an upside.
Speaker 3 (04:42):
The levies will help the US maintain its fiscal health now.
That's according to S and P Global Ratings. The credit
rating company has affirmed it's a double A plus long
term rating for the US, in part because it thinks
tariff revenues will reduce the fiscal hit of a recent
tax and spending bill on Lisa.
Speaker 2 (04:59):
Let's turn to the MA markets now, where futures are
a little changed ahead of the day's session, and Morgan
Stanley Chief US equity strategist Mike Wilson says he remains
bullish on the markets.
Speaker 12 (05:10):
A sixty twelve month basis. I actually feel better today
than I have in quite a while on the fundamentals. Now,
the stock market is already dis kind of a lot
of this. This is, you know, stocks trade ahead of
the of the data, so you know we are going
to have some sort of consolidation. We've been running about
that too, probably in the third quarter at some point,
but we'd be buyers to that. That's the main message
(05:32):
is that we think we're sort of beginning a new
bull market in April. We're not going anywhere near those lows.
Speaker 2 (05:39):
Morgan Stanley chief US equity strategist Mike Wilson has a
year end price target of sixty five hundred for the
yes and P five hundred. The index closed at sixty
four forty nine yesterday.
Speaker 4 (05:49):
Well earnings remain in focus.
Speaker 3 (05:50):
This morning, Karen, we start to get the latest quarterly
numbers from the country's biggest retailers. This morning, we'll hear
from Home Depot. Bloomberg's Tom Busby has a preview.
Speaker 13 (06:01):
Home Depot expected to post a rise in comparable sales
despite worries about lower spending on major home improvement projects
and fears about tariff driven price hikes. A big discussion
on the call would be a potential rate cut in
September and what the implications are for the retailer. Bloomberg
consensus calls for comp sales rise one point three nine percent,
with total revenue a forty five point four to nine
(06:22):
billion on adjusted earnings per share of four dollars seventy
four cents. Tom buzzby Bloomberg Radio, All right.
Speaker 2 (06:29):
Tom, thank you. The big economic event this week takes
place in Wyoming. The Kansas City Fed's Annual Economic Policy
Symposium kicks off Thursday in Jackson Hole. Then Fed share J.
Powell gives you remarks on Friday. Bloomberg's Michael McKee is
in Jackson Hole covering Powell and the Fed.
Speaker 7 (06:47):
He can lay out the issues I think, the fact
that they don't know whether it's inflation or jobs that
are going to be a bigger problem, and he'll probably
do that, and he may talk about the framework review.
The idea that he would come out and give the
markets the heads up that they are going to cut
in September as he did last year is probably a
(07:08):
bridge too far for them.
Speaker 2 (07:10):
Michael McKee is a key part of Bloomberg's Jackson Hole coverage.
It all finishes up with a special edition of Bloomberg
Surveillance on Friday at nine am Eastern with Mike Tom
Keane and Lisa Bromowitz.
Speaker 4 (07:21):
Plus watch for special.
Speaker 2 (07:23):
Episodes of the Odd Loss Podcast. Joe Wisenthal and Tracy
Alloway will be taping several conversations from the event as well.
Time now for 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 Michael, good Morning.
Speaker 14 (07:40):
Good morning Karen. Hurricane Aeron is expected to impact the
outer banks of North Carolina, sending massive waves crashing into
the island. Bloomberg Medior religiust Craig Allen has.
Speaker 8 (07:51):
The latest Hurricane Aeron, still a major hurricane, wins running
around one hundred and twenty to one hundred and thirty
miles per hour now, still very dangerous as it sits
out over the open waters. It will not make landfall.
It will pass to the north of the Turks and
Caicos as well as the Bahamas. It definitely has slowed down.
It's only moving at about five to ten miles per
(08:12):
hour now, but eventually we'll start on a northerly track
as we get on into Wednesday, and by Thursday and
Friday it accelerates off to the north and East.
Speaker 14 (08:21):
Bloomberg Media religious Craig Allen aerin his forecast, caused life
threatening rip currents along the East Coast from Florida up
to Maine. Hamas said it has agreed to a deal
proposed by Cutter and Egypt to pause the militant group's
war with Israel and Gaza. The proposal would see Hamas
release half of the hostages it still holds in return
(08:43):
for the freeing of Palestinian prisoners and a partial withdrawal
of Israeli troops. After two weeks of fleeing in protest,
Sexas House Democrats returned to the state Monday. Their homecoming
allows the Republican Landhouse to pass a redrawn congressional map
that could we have more seats to the GOP come
the mid terms next year. Texas House Speaker Republican Dustin Burroughs.
Speaker 13 (09:07):
A QUORUMUS present, and it's time to resume the work
of the people of Texas sent us here to do.
Speaker 14 (09:12):
Meanwhile, California is Democratic Governor Gavin Newsom has threatened to
counter Texas's new maps with redrawn maps that would favor Democrats.
Global News twenty four hours a day and whenever you
want it with the Bloomberg News. Now, I'm Michael Barr,
and this is Bloomberg.
Speaker 2 (09:28):
Hearen all right, Michael Barr, thank you.
Speaker 3 (09:34):
Time.
Speaker 2 (09:35):
Now for the Bloombergy scores update. Here's John Stashaur.
Speaker 1 (09:38):
John, Good morning, gim morning care. And the Yankees had
a night off. I've got some good news elsewhere. Toronto
lost in Pittsburgh five to two. The Yanks mood within
five games of the first place Blue Jays. The Red
Sox lost at Fenway to Baltimore six to three. Yanks
now tied for second with Boston Wild Gardlet and Seattle
loss to the Phillies twelve to seven. Yanks plates not
at Tampa Bay. Aaron Boone's team comes off. We can
(10:00):
sweep in Saint Louis.
Speaker 6 (10:02):
Felt a long way to go in this and you know,
it's always always really good at obviously getting to sweep
and heading into an off day, but they're just we
got to keep going and we we're not a finished
product yet, and you know, we we know we're capable
of a lot, but we got a waste to go.
Speaker 1 (10:21):
Mets played tonight in Washington. Milwaukee's lead in the NL
Central now up to nine games over the Cubs or
the Brewers shutout nine nothing at Wrigley. Milwaukee's won fifteen
of sixteen since the All Star Break. Colorado has a
better record than the Dodgers. The Rockies scored bottom of ninth,
won four to three. They had lost their last ten
versus La. Tennis fans were looking forward to the fifteenth
(10:42):
career meeting between Janick Cinner and Carlos Alcarez. They just
met in the finals of the French Open and Wimbledon.
We're doing it again in Cincinnati, but it was clear
Cinner was off his game. He trailed five love when
he retired due to illness. Ygas Ciontek won the women's title,
and now everyone coming to New York for the US Open,
which it begins Sunday, But there's also the new mixed
(11:02):
doubles tourney today and tomorrow at Flushing Meadow, with Alcarez, Sinner,
and Schiantech all expected.
Speaker 4 (11:08):
To take part.
Speaker 1 (11:09):
The Cleveland Browns named forty year old Joe Flacco their
Week one starting quarterback. They also have Kenny Pickett and
two rookies. They're expected to keep all four. The Rams
QB thirty seven year old Matthew Stafford practiced for the
first time he's been out with a back injury. Fairfield,
Connecticut capes winning at the Little League World Series now
three and zero. It was thirteen to one over Soup
(11:29):
Falls South Dakota. John Stanshed with Bloomberg Sports Kenen.
Speaker 2 (11:33):
Lisa stay with us more from Bloomberg day Break coming
up after this.
Speaker 10 (11:42):
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 4 (11:54):
It is five twelve on Wall Street.
Speaker 3 (11:56):
We'll after meeting with Russia's President Vladimir Putin Ukraine Vladimir
zelenskape Usident Trump is now moving to set up talks
between the two leaders. So here with the very latest
on the developments is Tina Fordham. She's found a r
at Fordham Global Foresight. Tina, thanks for joining me this morning.
You are the expert in the field of geopolitical risks,
so I have to start right off the bat by
(12:16):
asking you. You know Putin has been reluctant to meet
with Zelensky. Is this meeting? Is it going to take place?
Speaker 15 (12:22):
Thanks Lisa, So Putin does not want to be caught
dead in a trilateral construct between himself, President Trump and
Ukrainian President Zelenski, and we'll like the stonewall to prevent
this from happening. But he's going to find it challenging
because President Trump is very keen to make this happen,
(12:45):
and of course it is the logical next step in
these negotiations.
Speaker 3 (12:50):
So what would be discussed during this is it mainly
territorial issues.
Speaker 15 (12:55):
Well, we don't really have a lot of insight into
how President Trump conducts these meetings. I mean, there is
an argument that says, you know, his unconventional approach to diplomacy,
which is much less constrained by diplomatic protocol for example,
you know, could result in some kind of breakthroughs in
(13:16):
just you know, knocking heads and getting things done. But
as President Trump himself said during the televised bit of
his conversation with European leaders, he thought that the Russia
Ukraine conflict would be the easiest to solve the of
the many that he's turned his attention to. And it's
in fact really complex, and that gets to the heart
(13:38):
of the disconnect really between his transactional approach and how
The fact is that the seeds of any potential next
crisis or alternatively to create a durable and lasting piece,
are going to result from the terms of this deal.
And if we continue to think in terms of you know,
(14:01):
this liver of territory in eastern Ukraine, that the don
Bass as being inconsequential, we're going to fail to miss
the point, which is, how do you create a peace
deal between Russia and Ukraine that isn't simply post postponing
a Russian attack to go back and get what they
(14:22):
failed in this latest incursion.
Speaker 3 (14:25):
Tina, I want to talk about the meeting yesterday. The
tone between President Trump and Zelensky yesterday notably improved from
the Ukrainian friends last visit to Washington.
Speaker 4 (14:34):
Can you talk more about what was different this time around?
Speaker 15 (14:38):
Well, Zilensky clearly learned lessons from that disastrous February meeting,
which you know resulted in a in a shouting match
between Vice President vance President Trump and President Zelenski. You
could see, you know, Ukrainian reporters in the in the
(14:58):
press conference in Tea years it was a spectacle for
the ages Uh and Zelensky couldn't risk that happening again.
Of course, he's had subsequent meetings with President Trump since
the February Oval Office showdown, most notably on the sidelines
of the Pope's funeral in the Vatican, and what was
(15:21):
evident is a much improved, almost shockingly better rapport between
Zielensky and Trump. Some minor details that that underscore the
preparation and the thought that it went into this on
Zelensky's part, you know, not just wearing the black jacket
(15:42):
he wore to the Pope's funeral rather than the military
fatigues which Silensky wears as a sign that his country
is at war.
Speaker 6 (15:50):
You know.
Speaker 15 (15:50):
But he he joked with the same reporter who had
dressed him down no pun intended for his attire, you know,
on the last press conference, and he joked with him
and said, yeah, you're wearing the same suit I changed
and you didn't.
Speaker 4 (16:08):
And then you know.
Speaker 15 (16:09):
Which was which was really you know, added some much
needed levity to the discussions.
Speaker 4 (16:15):
I was also touched.
Speaker 15 (16:17):
By, you know, the the gesture where, uh, first the
First Lady of Ukraine returned Milania Trump's letter to President Trump.
She the First Lady of Ukraine, responded with her own
letter to Milania, and those kinds of things really work
(16:38):
with President Trump, he appreciates these kinds of gestures.
Speaker 2 (16:44):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (16:51):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (16:58):
You can also listen live each morning starting at five
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Bloomberg ninety two nine in Boston, and nationwide on serious
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Speaker 3 (17:13):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 4 (17:17):
And Android auto interfaces.
Speaker 2 (17:19):
And don't forget to subscribe to Bloomberg and 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 and.
Speaker 4 (17:32):
I'm Lisa Matteo.
Speaker 3 (17:33):
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. I'm Lisa Matteo and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:16):
Karen, we begin with the latest efforts for a piece
deal between Russia and Ukraine. President Trump called the Vladimir
Putin and urged the Russian leader to begin making plans
for a summit with Vladimir Zlynsky.
Speaker 4 (00:27):
The proposal, which.
Speaker 3 (00:28):
President Trump pitched as a one on one summit between
Ukraine and Russia's leaders, would be followed by a tri
later gathering involving all three. Here's Lensky, President Trump, UK
Prime Minister kir Stormer, and French President Macrone at the
White House. Is heard right here on Bloomberg Radio yesterday.
Speaker 5 (00:45):
We need to stove this word to stop Russia, and
we need support American and European.
Speaker 6 (00:50):
Batist muld Awa best for this.
Speaker 7 (00:54):
If everything works out well today, we'll have a try, Lad,
and I think there will be a reasonable chance of ending.
Speaker 8 (01:00):
The war when we do that.
Speaker 9 (01:01):
The Coalition of Willing Countries that's thirty countries already working
together on security guarantees, will now work with the US
on those guarantees.
Speaker 10 (01:10):
My hope is that the United States do the most
possible because that's what will allow us to alleviate the
burden on Europe, and that the United States also confirm
its commitments because that was a big question mark.
Speaker 3 (01:20):
Well, that was French President Macron, UK Prime Minister Starmer,
Presidents Trump and Zelensky speaking at the White House yesterday.
Speaker 2 (01:26):
Only so Secretary of State Marco Rubio is hopeful negotiations
will begin between Russia and Ukraine. He spoke to Fox
News after the White House gathering.
Speaker 11 (01:36):
Now, the President suggested that Zelensky and Putin meet, so
we're working on that now to try to set that
up for them to meet somewhere, which again would be unprecedented,
and then if that goes well, hopefully the next meeting
will be a meeting between Presidents Putin, Trump and Zelensky
where we hope to finalize a deal. We're not there yet,
but that's what we're aiming towards, and that's one of
the things that was discussed today is how to get
(01:57):
to that point.
Speaker 2 (01:58):
Marco Rubio, speaking of Fun News, European officials say they
expect another virtual meeting with President Trump as soon as
today to discuss what security guarantees they could collectively offered
to Kiev.
Speaker 3 (02:10):
Okay, and it still remains to be seen if when
Zelenski and Putin will meet. Stephanie Baker is a senior
writer at Bloomberg News and also author of Punishing Putin
Inside the Global Economic War to bring Down Russia.
Speaker 9 (02:22):
What Marco Rubio, the Secretary of State, has been saying
is that that that talks to set that meeting up
are actively in the works. Putin has tried to avoid
this by saying certain conditions need to be met before
they sit down together, and those conditions are really a
buzzword for that Ukraine needs to give up territory or
(02:46):
agree to give up territory, which Zelensky's not going to do.
Speaker 8 (02:50):
So I think that.
Speaker 9 (02:51):
There are hurdles to setting up that meeting, and it
does look to me that Putin may be playing for
time again. But you know, maybe under the pressure from Trump,
you know, Putin will indeed agree to sit down, But
I think he's going to demand an awful lot in
the talks ahead of time Well Bloomberg.
Speaker 3 (03:13):
Stephanie Baker now German Chancellor Fridrick Meertzi said that a
possible Putin's and Lensky summit. Well, that could take place
within two weeks.
Speaker 2 (03:21):
Lisa, the Trump administration is weighing taking a ten percent
steak in Intel, which would make the US government the
chip maker's largest shareholder. Sources say the plan could involve
converting Intel's ten point nine billion dollars in ships at
grants into equity. Begin more from Bloomberg's Ryan Gould.
Speaker 5 (03:39):
I think this is as much about ensuring Intel's longevity
in terms of what the United States government thinks of
as national security. I think this is an evolving situation,
and we should caution that these plans are still very
much in flux. They're very fluid.
Speaker 2 (03:51):
Bloomberg's Ryan Gould. At Intel's current market value, a ten
percent steak in the shipmaker would be worth about ten
and a half billion dollars.
Speaker 3 (04:00):
Well, meanwhile, SoftBank has agreed to buy two billion dollars
in Intel. Now, it's a move that extends a Japanese
company's US investment effort and offers a vote of confidence
in the struggling chip maker. Shares of Intel there up
about six percent in early trading.
Speaker 2 (04:14):
And Lisa, there is more major news this morning involving
the chip sector Routers is reporting in videos developing an
AI chips specifically for China, which will be more powerful
than the H twenty model. Reuters says in video hopes
to deliver samples to Chinese clients for testing as early
as next month. However, US regulatory approval is not guaranteed.
Speaker 3 (04:34):
And presidents from sweeping tariffs have royal markets, unnerved trade
partners and provoke criticism from leading economists.
Speaker 4 (04:40):
But there is an upside.
Speaker 3 (04:42):
The levies will help the US maintain its fiscal health now.
That's according to S and P Global Ratings. The credit
rating company has affirmed it's a double A plus long
term rating for the US, in part because it thinks
tariff revenues will reduce the fiscal hit of a recent
tax and spending bill on Lisa.
Speaker 2 (04:59):
Let's turn to the MA markets now, where futures are
a little changed ahead of the day's session, and Morgan
Stanley Chief US equity strategist Mike Wilson says he remains
bullish on the markets.
Speaker 12 (05:10):
A sixty twelve month basis. I actually feel better today
than I have in quite a while on the fundamentals. Now,
the stock market is already dis kind of a lot
of this. This is, you know, stocks trade ahead of
the of the data, so you know we are going
to have some sort of consolidation. We've been running about
that too, probably in the third quarter at some point,
but we'd be buyers to that. That's the main message
(05:32):
is that we think we're sort of beginning a new
bull market in April. We're not going anywhere near those lows.
Speaker 2 (05:39):
Morgan Stanley chief US equity strategist Mike Wilson has a
year end price target of sixty five hundred for the
yes and P five hundred. The index closed at sixty
four forty nine yesterday.
Speaker 4 (05:49):
Well earnings remain in focus.
Speaker 3 (05:50):
This morning, Karen, we start to get the latest quarterly
numbers from the country's biggest retailers. This morning, we'll hear
from Home Depot. Bloomberg's Tom Busby has a preview.
Speaker 13 (06:01):
Home Depot expected to post a rise in comparable sales
despite worries about lower spending on major home improvement projects
and fears about tariff driven price hikes. A big discussion
on the call would be a potential rate cut in
September and what the implications are for the retailer. Bloomberg
consensus calls for comp sales rise one point three nine percent,
with total revenue a forty five point four to nine
(06:22):
billion on adjusted earnings per share of four dollars seventy
four cents. Tom buzzby Bloomberg Radio, All right.
Speaker 2 (06:29):
Tom, thank you. The big economic event this week takes
place in Wyoming. The Kansas City Fed's Annual Economic Policy
Symposium kicks off Thursday in Jackson Hole. Then Fed share J.
Powell gives you remarks on Friday. Bloomberg's Michael McKee is
in Jackson Hole covering Powell and the Fed.
Speaker 7 (06:47):
He can lay out the issues I think, the fact
that they don't know whether it's inflation or jobs that
are going to be a bigger problem, and he'll probably
do that, and he may talk about the framework review.
The idea that he would come out and give the
markets the heads up that they are going to cut
in September as he did last year is probably a
(07:08):
bridge too far for them.
Speaker 2 (07:10):
Michael McKee is a key part of Bloomberg's Jackson Hole coverage.
It all finishes up with a special edition of Bloomberg
Surveillance on Friday at nine am Eastern with Mike Tom
Keane and Lisa Bromowitz.
Speaker 4 (07:21):
Plus watch for special.
Speaker 2 (07:23):
Episodes of the Odd Loss Podcast. Joe Wisenthal and Tracy
Alloway will be taping several conversations from the event as well.
Time now for 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 Michael, good Morning.
Speaker 14 (07:40):
Good morning Karen. Hurricane Aeron is expected to impact the
outer banks of North Carolina, sending massive waves crashing into
the island. Bloomberg Medior religiust Craig Allen has.
Speaker 8 (07:51):
The latest Hurricane Aeron, still a major hurricane, wins running
around one hundred and twenty to one hundred and thirty
miles per hour now, still very dangerous as it sits
out over the open waters. It will not make landfall.
It will pass to the north of the Turks and
Caicos as well as the Bahamas. It definitely has slowed down.
It's only moving at about five to ten miles per
(08:12):
hour now, but eventually we'll start on a northerly track
as we get on into Wednesday, and by Thursday and
Friday it accelerates off to the north and East.
Speaker 14 (08:21):
Bloomberg Media religious Craig Allen aerin his forecast, caused life
threatening rip currents along the East Coast from Florida up
to Maine. Hamas said it has agreed to a deal
proposed by Cutter and Egypt to pause the militant group's
war with Israel and Gaza. The proposal would see Hamas
release half of the hostages it still holds in return
(08:43):
for the freeing of Palestinian prisoners and a partial withdrawal
of Israeli troops. After two weeks of fleeing in protest,
Sexas House Democrats returned to the state Monday. Their homecoming
allows the Republican Landhouse to pass a redrawn congressional map
that could we have more seats to the GOP come
the mid terms next year. Texas House Speaker Republican Dustin Burroughs.
Speaker 13 (09:07):
A QUORUMUS present, and it's time to resume the work
of the people of Texas sent us here to do.
Speaker 14 (09:12):
Meanwhile, California is Democratic Governor Gavin Newsom has threatened to
counter Texas's new maps with redrawn maps that would favor Democrats.
Global News twenty four hours a day and whenever you
want it with the Bloomberg News. Now, I'm Michael Barr,
and this is Bloomberg.
Speaker 2 (09:28):
Hearen all right, Michael Barr, thank you.
Speaker 3 (09:34):
Time.
Speaker 2 (09:35):
Now for the Bloombergy scores update. Here's John Stashaur.
Speaker 1 (09:38):
John, Good morning, gim morning care. And the Yankees had
a night off. I've got some good news elsewhere. Toronto
lost in Pittsburgh five to two. The Yanks mood within
five games of the first place Blue Jays. The Red
Sox lost at Fenway to Baltimore six to three. Yanks
now tied for second with Boston Wild Gardlet and Seattle
loss to the Phillies twelve to seven. Yanks plates not
at Tampa Bay. Aaron Boone's team comes off. We can
(10:00):
sweep in Saint Louis.
Speaker 6 (10:02):
Felt a long way to go in this and you know,
it's always always really good at obviously getting to sweep
and heading into an off day, but they're just we
got to keep going and we we're not a finished
product yet, and you know, we we know we're capable
of a lot, but we got a waste to go.
Speaker 1 (10:21):
Mets played tonight in Washington. Milwaukee's lead in the NL
Central now up to nine games over the Cubs or
the Brewers shutout nine nothing at Wrigley. Milwaukee's won fifteen
of sixteen since the All Star Break. Colorado has a
better record than the Dodgers. The Rockies scored bottom of ninth,
won four to three. They had lost their last ten
versus La. Tennis fans were looking forward to the fifteenth
(10:42):
career meeting between Janick Cinner and Carlos Alcarez. They just
met in the finals of the French Open and Wimbledon.
We're doing it again in Cincinnati, but it was clear
Cinner was off his game. He trailed five love when
he retired due to illness. Ygas Ciontek won the women's title,
and now everyone coming to New York for the US Open,
which it begins Sunday, But there's also the new mixed
(11:02):
doubles tourney today and tomorrow at Flushing Meadow, with Alcarez, Sinner,
and Schiantech all expected.
Speaker 4 (11:08):
To take part.
Speaker 1 (11:09):
The Cleveland Browns named forty year old Joe Flacco their
Week one starting quarterback. They also have Kenny Pickett and
two rookies. They're expected to keep all four. The Rams
QB thirty seven year old Matthew Stafford practiced for the
first time he's been out with a back injury. Fairfield,
Connecticut capes winning at the Little League World Series now
three and zero. It was thirteen to one over Soup
(11:29):
Falls South Dakota. John Stanshed with Bloomberg Sports Kenen.
Speaker 2 (11:33):
Lisa stay with us more from Bloomberg day Break coming
up after this.
Speaker 10 (11:42):
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 4 (11:54):
It is five twelve on Wall Street.
Speaker 3 (11:56):
We'll after meeting with Russia's President Vladimir Putin Ukraine Vladimir
zelenskape Usident Trump is now moving to set up talks
between the two leaders. So here with the very latest
on the developments is Tina Fordham. She's found a r
at Fordham Global Foresight. Tina, thanks for joining me this morning.
You are the expert in the field of geopolitical risks,
so I have to start right off the bat by
(12:16):
asking you. You know Putin has been reluctant to meet
with Zelensky. Is this meeting? Is it going to take place?
Speaker 15 (12:22):
Thanks Lisa, So Putin does not want to be caught
dead in a trilateral construct between himself, President Trump and
Ukrainian President Zelenski, and we'll like the stonewall to prevent
this from happening. But he's going to find it challenging
because President Trump is very keen to make this happen,
(12:45):
and of course it is the logical next step in
these negotiations.
Speaker 3 (12:50):
So what would be discussed during this is it mainly
territorial issues.
Speaker 15 (12:55):
Well, we don't really have a lot of insight into
how President Trump conducts these meetings. I mean, there is
an argument that says, you know, his unconventional approach to diplomacy,
which is much less constrained by diplomatic protocol for example,
you know, could result in some kind of breakthroughs in
(13:16):
just you know, knocking heads and getting things done. But
as President Trump himself said during the televised bit of
his conversation with European leaders, he thought that the Russia
Ukraine conflict would be the easiest to solve the of
the many that he's turned his attention to. And it's
in fact really complex, and that gets to the heart
(13:38):
of the disconnect really between his transactional approach and how
The fact is that the seeds of any potential next
crisis or alternatively to create a durable and lasting piece,
are going to result from the terms of this deal.
And if we continue to think in terms of you know,
(14:01):
this liver of territory in eastern Ukraine, that the don
Bass as being inconsequential, we're going to fail to miss
the point, which is, how do you create a peace
deal between Russia and Ukraine that isn't simply post postponing
a Russian attack to go back and get what they
(14:22):
failed in this latest incursion.
Speaker 3 (14:25):
Tina, I want to talk about the meeting yesterday. The
tone between President Trump and Zelensky yesterday notably improved from
the Ukrainian friends last visit to Washington.
Speaker 4 (14:34):
Can you talk more about what was different this time around?
Speaker 15 (14:38):
Well, Zilensky clearly learned lessons from that disastrous February meeting,
which you know resulted in a in a shouting match
between Vice President vance President Trump and President Zelenski. You
could see, you know, Ukrainian reporters in the in the
(14:58):
press conference in Tea years it was a spectacle for
the ages Uh and Zelensky couldn't risk that happening again.
Of course, he's had subsequent meetings with President Trump since
the February Oval Office showdown, most notably on the sidelines
of the Pope's funeral in the Vatican, and what was
(15:21):
evident is a much improved, almost shockingly better rapport between
Zielensky and Trump. Some minor details that that underscore the
preparation and the thought that it went into this on
Zelensky's part, you know, not just wearing the black jacket
(15:42):
he wore to the Pope's funeral rather than the military
fatigues which Silensky wears as a sign that his country
is at war.
Speaker 6 (15:50):
You know.
Speaker 15 (15:50):
But he he joked with the same reporter who had
dressed him down no pun intended for his attire, you know,
on the last press conference, and he joked with him
and said, yeah, you're wearing the same suit I changed
and you didn't.
Speaker 4 (16:08):
And then you know.
Speaker 15 (16:09):
Which was which was really you know, added some much
needed levity to the discussions.
Speaker 4 (16:15):
I was also touched.
Speaker 15 (16:17):
By, you know, the the gesture where, uh, first the
First Lady of Ukraine returned Milania Trump's letter to President Trump.
She the First Lady of Ukraine, responded with her own
letter to Milania, and those kinds of things really work
(16:38):
with President Trump, he appreciates these kinds of gestures.
Speaker 2 (16:44):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (16:51):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (16:58):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (17:13):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 4 (17:17):
And Android auto interfaces.
Speaker 2 (17:19):
And don't forget to subscribe to Bloomberg and 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 and.
Speaker 4 (17:32):
I'm Lisa Matteo.
Speaker 3 (17:33):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Daybreak
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