May 14, 2025 • 16 mins
On today's podcast:
1) The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions — and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region.
2) The S&P 500 and Nasdaq 100 indexes turned higher for the year on Tuesday, reversing multi-trillion dollar routs, as enthusiasm for US stocks grows with global trade tensions cooling after the Trump administration and China agreed to temporarily lower tariffs.
3) House Republicans could land on a compromise on the state and local tax deduction on Wednesday, a deal that would represent a breakthrough in one of the thorniest policy debates in President Donald Trump’s economic package.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
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 begin in Saudi Arabia, where President Trump has
kicked off the second day of his four day Middle
Eastern trip. This morning, the President met with Syrian president
and former rebel leader Akmad Alshara. It was the first
face to face between US and Syrian leaders in twenty
five years, and at a meeting with the Golf Cooperation
Council in Riot, President Trump said he is exploring normalizing
(00:38):
relations with Syria.
Speaker 4 (00:40):
The whole world is watching the Middle East, and many
are watching with envy.
Speaker 5 (00:44):
You have something very special going on.
Speaker 2 (00:47):
Incredible opportunities are within reach for this region if we
can simply stop the aggression from a small group of
pretty bad actors.
Speaker 3 (00:56):
President Trump's remarks come after a day focused on deals
at the US Investment Forum. We get more on that
from Bloomberg's Jumana Barssecci. In the Saudi capitol, the White.
Speaker 6 (01:05):
House published the statements saying that they had agreed to
six hundred billion dollars worth of investments Saudi investments going
into the US that is to be spread out over
the next four years, and then later during the conference's speech,
he said that they're working on increasing that number to
one trillion dollars.
Speaker 7 (01:20):
So huge figures coming through.
Speaker 3 (01:22):
Bloomberg's Jumana Barsettchi reports some of the biggest deals are
with advanced US chip makers in Nvidia and Advanced micro
Devices have agreed to a ten billion dollar project to
provide their most cutting edge AI chips to Saudi Arabia's
humane infrastructure effort.
Speaker 2 (01:37):
Nathan from Saudi Arabia. President Trump will head today to Cutter,
where he's already taking criticism over a luxury gift. Cutter
is offering a Boeing seven forty seven eight jumbo jet
for the president to use as Air Force one. In
a social media post, the President says it'll only be
temporary until Boeing delivers newer versions of the presidential plane,
but Senate Minority Leader Chuck Schumer says taking this gift
(02:00):
would be unconstitutional.
Speaker 5 (02:01):
Gifting Donald Trump a four hundred million dollar private jet
to use as Air Force one is so corrupt that
even Putin would give a double take. This is not
just naked corruption, it is also a grave national security threat.
Speaker 2 (02:20):
Senate Minority Leader Chuck Schumer says he'll block President Trump's
a Justice Department nominees until he gets more answers.
Speaker 3 (02:27):
With certain markets. Now, Karen, it may have seemed unfathomable
a month ago, but stocks are now higher on the year.
The Nasdaq one hundred had been down twenty three percent
from its February nineteenth high to its April eighth low
after President Trump slapped broad tariffs on America's key trading partners.
The S and P also hit its low. Then it
was down fifteen percent on the year at the time.
(02:50):
That index is now higher by a tenth of a
percent in twenty twenty five. Brian Belski is chief investment
strategist at BEMO Capital Markets.
Speaker 8 (02:58):
Well, I think too many investors, quite frankly, try to
time the market instead of just being invested. And from
our perspective, stocks are hire six months from now, stocks
are higher twelve months from now. The resiliency of the
US market remains so and we think too many people
were led by fear and made binary decisions based on
(03:21):
emotion and not process or discipline. And that's why we
remain bullish, and that's why we think the secular bowl
market remains well in place.
Speaker 3 (03:28):
FEMO Capital Markets Brian Belski says his bowl case for
the sm P five hundred is sixty seven hundred. That's
about a fifteen percent gain from current levels.
Speaker 2 (03:37):
Nathan, it's been big tech that's been fueling the rally
over the past month. In Nvidia and Tesla's surged more
than thirty five percent. Well, Microsoft is that more than
twenty percent?
Speaker 9 (03:47):
Well.
Speaker 2 (03:47):
The S and P five hundreds plunge after Trump's tariff
announcement on April second was fast eleven percent in just
two sessions. It's bounce back has been almost as breathless.
The index rows seventeen percent from April fourteenth to May second,
the kind of thing that historically happens when the market
is recovering from a major catastrophe like the dot com bust,
the two thousand and eight financial crisis, and the COVID
(04:09):
nineteen pandemic.
Speaker 3 (04:10):
Well, Karen, President Trump may want oil prices to go lower.
In fact, Goldman Sachs, citing an in house analysis of
the president's social media posts, says he appears to prefer
oil between forty and fifty dollars a barrel WTI, which
right now is trading around sixty three dollars fifty cents,
has shed twelve percent so far this year, heard by
the fallout from the President's trade tariffs, as well as
(04:32):
a decision by OPEC plus to loosen supply curves at
a faster than expected pace.
Speaker 2 (04:37):
Nathan, there's optimism in Washington that House Republicans may reach
a compromise on the state and local tax deduction, and
we get the latest from Bloomberg's John Tucker.
Speaker 10 (04:46):
John Good morning, Good morning, Karen. Add this has been
a real big sticking point. House Speaker Mike Johnson telling
reporters that a deal on salt will be likely today.
It would represent a breakthrough in one of the thorniest
policy debates in President Trump's economic package. The Tax writing
Houseways and Means Committee is debating a proposal that calls
for increasing the salt cap from ten thousand to thirty
(05:08):
thousand dollars, phasing out for individuals who earn at least
two hundred thousand. Is a big deal for high tax
states where residents paid large property tax bills. Representative Mike Lawler,
a New York Republican who attended a meeting with Johnson
said the two signs are making progress, but another advocate
for Salt, Representative Nick Lolota, so the proposals floated are
(05:29):
still very far from what he wants. In New York,
I'm John Tucker Bloomberg Radio.
Speaker 3 (05:33):
All right, John, thank you. President Trump's tariffs may have
a major impact on the state of California. According to
Governor Gavin Newsom's finance department, the president's tariff policies are
projected to cut California's tax revenue by sixteen billion dollars
in the next fiscal year. However, that four percent revenue
dropped from a previous estimate is largely due to the
stock downturn last month after the President announced a sweeping
(05:54):
tariff campaign. Stocks, as we mentioned, have since rebounded well.
Speaker 2 (05:58):
Nathan Harvard Universe City is escalating its legal battle with
the White House. The Ivy League school has expanded its
lawsuit against the Trump administration for freezing billions of dollars
in federal funds. Harvard claims that federal agencies illegally halted
funding because the university refused to submit to government control
over its academic programs, and that the funding freeze will
(06:19):
chill its exercise a First Amendment rights. Yesterday, the Trump
administration cut another four hundred and fifty million dollars in
grants to Harvard University. That's in addition to the two
point two billion that was previously frozen. 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. Michael, Good Morning, Good.
Speaker 11 (06:41):
Morning, Karen. It is day three of the sex trafficking
and racketeering trial of Sean Diddy Comb's. Yesterday, Combe's former
girlfriend Cassie Ventura took the stand to test via about
her decade long relationship with the music mogul, including about
alleged day's long sexual marathons. Ventura says she was worse
to take part. Criminal defense lawyer Bernerda Villolona gave her
(07:04):
analysis of Tuesday's testimony.
Speaker 9 (07:06):
I was in the courtroom to hear her testimony. Than
what you saw was a woman that was broken, a
woman that was full of emotion and of regret and
is now having the courage and the strength to come
forward and say what happened to her.
Speaker 11 (07:19):
Criminal defense lawyer BERNARDA. Villolona Ventura is expected to return
to the witness stand today. Eric and Lyol Menendez will
have a new chance at freedom after thirty five years
behind bars from murdering their parents. A judge rule to
reduce the brother's sentences from life without parole to fifty
years to life. The resentencing means they are eligible for parole.
(07:41):
Their attorney Mark Gerrigos, reacting to the decision outside the courthouse.
Speaker 12 (07:45):
We have evolved.
Speaker 1 (07:47):
This is not the nineties anymore.
Speaker 12 (07:49):
We have a more robust understanding of a lot of things.
Speaker 11 (07:55):
They were convicted of murdering their entertainment executive father and
mother in their Beverly Hills home nineteen eighty nine. Prosecutors
opposed their resentencing, arguing that the brothers had not taken
full accountability for the crime. There is more talk of
a possible strike by New Jersey Transit that could begin
later this week. Talks had been underway before federal mediators
(08:15):
between the Brotherhood of Local Engineers and Trainmen and the
head of NJ Transit. The union that represents the engineers
is threatening to walk off the job as soon as
twelve oh one am Friday of a contract deal is
not reached and it could potentially impact three hundred and
fifty thousand commuters. Governor Phil Murphy, I.
Speaker 10 (08:35):
Think you'll leave all options on the table.
Speaker 3 (08:37):
I'm still hoping that we find some resolution here, but
we are.
Speaker 4 (08:40):
Preparing for the worst.
Speaker 11 (08:42):
Audio courtesy of ABC seven. A possible NJ transit strike
could have more of an impact than just on the
work commute. Shakira is scheduled to perform at Medlife Stadium
on Thursday and Friday night and earlier this week. NJ
Transit tolder fans not to count on train or bus
service to the stadium. Global News twenty four hours in
and whenever you want it with the Bloomberg News Now,
(09:02):
Michael Barr, this is Bloomberg Carrot.
Speaker 2 (09:04):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stanshawer, John, good morning.
Speaker 4 (09:14):
Good morning, Caunt. A two to one win for the Mets,
a two to one loss for the Yankees at Cityfield.
Brett Baty finally living up to the promise he's shown
in the miners with an opposite field seventh inning homer,
and the Mets top the Pirates, improving to seventeen and
four at home, the Mets won despite having only five hits.
In Seattle, Yankees, with just five hits did tie the
game of the ninetheenning, but the Mariners scored on the
(09:34):
eleventh for the victory. Of the road trip ends for
the day game today. The Nationals lost their seventh in
a row five to two in Atlanta. The Red Sox
lost in Detroit ten to nine in eleven ins. The
Tigers won on Hobby Bias' second three run homer of
the game. The Indiana Pacers, who took out the Nixon
Round two a year ago, this time took out Cleveland,
who had the great regular season with the Cavs, who
(09:54):
only lost seven home games over six months, lost three
and nine days. Facers came from nineteen down won the series,
clinching Game five one fourteen to one oh five. They'll
now play either the Knicks or Celtics, except three to
one going for the clincher tonight in Boston. The Celtics,
without Jason Tatum due to the torn achilles suffered late
in Game four. In the West, Denver and Oklahoma City
(10:15):
played a tight game five.
Speaker 12 (10:17):
Seven to shooting his team is down by three roles
tosses it up, Jokers wild to shoot, some help from Murray,
Kick George Extra Williams, Tomaway, Thunder late by.
Speaker 4 (10:35):
Thray Tantata Call. Oklahoma City won one twelve, one oh
five despite forty four points by Denvers Nicola Yokis Thunder
lead the series three two Dallas Stars three one win
over Winnipeg three to one series lead. It was the
Dave Pete Rose never lived to see, but his family
had recently lobbied on his behalf for his reinstatement to Baseball,
and Commisioner Rob Manford finally granted it. Satan's statement that
(10:57):
Rose can no longer present a threat to the games integrity,
so Baseball's hit king can now posthumously be voted to
the Hall of Fame. Tho, the earliest to what happened
is twenty twenty eight. John Stanshewer, Bloomberg Sports Kereny.
Speaker 1 (11:11):
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 3 (11:22):
Good morning, I'm Nathan Hager. President Donald Trump is shifting
focus from deal making to diplomacy as he kicks off
day two of his four day Middle Eastern trip. At
a meeting with the Golf Club Operation Council in Riod
this morning, heard live on Bloomberg Radio, the President said,
the days of the US turning its back on golf
allies are over.
Speaker 2 (11:41):
The Gulf nations.
Speaker 5 (11:42):
Are at the forefront of creating a stable, peaceful, and
prosperous Middle East, and I have to say that I've
seen such progress.
Speaker 2 (11:53):
It's really incredible.
Speaker 5 (11:54):
I've also seen great unity and friendship.
Speaker 3 (11:56):
President Trump there speaking at the Golf Cooperation Council this morning,
joining us from Riad once again. Bloomberg Horizons anchor Jumana
Barsechi Jamana, thanks so much for joining us, and I
guess the biggest headline to come out of the President's
remarks this morning is that the US is exploring normalized
relations with Syria. This would be quite the reversal among
(12:16):
many reversals we've seen on this trip so far.
Speaker 11 (12:19):
Good morning.
Speaker 7 (12:20):
Certainly unbelievable to think that we could be at the
phase six months ago. If you were wind back Assyria
was still under the grips of the Assad regime. So
much has changed in the region in the last six
months and I think today's meeting really encapsulates that. And
the fact that President Trump in has remarked yesterdy very
long speech that he gave at the Saudi Business Investment Forum,
(12:40):
obviously talking about all of the deals with big investments,
but one of the big headline moments, and I was
in the room, it was an electric atmosphere, was when
he announced that the US we're looking to remove the
sanctions on the Syrian government. And that was not with
a standing ovation and the loudest applause that he received
throughout the whole speech, and then followed up by a
(13:01):
one to one meeting that he had with that is
the new Syrian president today on the sidelines of the GCC.
The Syrian president obviously was a special invite, he's not
part of the g c C. He was invited to
at time this event, and then a picture was taken
with the Crown Prince, President Trump and Syrian President Ahman
Shada talking about the birth of a new Syria, and
(13:24):
President Trump quite literally said that this is their chance
to shine. There's an understanding that the Syrian government has
been or the Syrian that contry has been crippled by
the sanctions that have been in place for over a
decade now, a country that has been ravaged by war
under the oppressive Assad regime. Now is the focus on reconstruction,
rebuilding institutions, and regaining political stability, which I think is
(13:47):
one of the most powerful messages that came out of
President Trump's speech yesterday in terms of how the Trump
administration is thinking about the region and their priorities the
next few years.
Speaker 3 (13:57):
How seriously Jumana do Gulf al take the potential for
a pivot in the Syrian regime following the fall of
Bashar al Assade. Of course, Syria has long been an
ally of Russia and.
Speaker 7 (14:09):
Iran very seriously, and I think the president, the new
president is trying to say the right things and do
the right things. We can't forget he has jihadi roots,
Let's not forget that. So he's a bit of a
reformed politician, I should say himself. Even the way he dresses.
He dresses more in civilian clothes and he did, you
(14:32):
know five six years ago when he was a fighter
fighting against the Asad regime. But there's been also a
lot of talk about the type of governance that needs
to be in place and the need for pluralistic society,
one that respects all minorities, and that was the major concern.
If you remember, there was an incident a couple of
months back where I was actually a mass killing that
(14:54):
took place of the Alla white minority and one of
the coastal towns, and there was concerns here turns back
then that Syria may be gripped by again sectarian division.
But they've tried to thwart that move past it and
create a government that does feel more pluralistic. Obviously, it
remains to be seen how successful they're going to be.
(15:15):
That the only foreign trip that President shout out has
mete outside in the least with the France. Last week
he met with President macarel as being an easing of
sanctions from Europe. And now there's this double step of
the possible easing of sanctions from the United States as well.
So the United States really is presenting them with an opportunity,
alongside the GCC, to create something more stable in the region.
Speaker 2 (15:37):
This is Bloomberg Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:44):
Look for us on your podcast feed by six am
Eastern each morning on Apple Spotify, or anywhere else you listen.
Speaker 2 (15:50):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 3 (16:04):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (16:10):
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 to stay informed all day long. I'm Karen Moscow.
Speaker 3 (16:23):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg dabray
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 begin in Saudi Arabia, where President Trump has
kicked off the second day of his four day Middle
Eastern trip. This morning, the President met with Syrian president
and former rebel leader Akmad Alshara. It was the first
face to face between US and Syrian leaders in twenty
five years, and at a meeting with the Golf Cooperation
Council in Riot, President Trump said he is exploring normalizing
(00:38):
relations with Syria.
Speaker 4 (00:40):
The whole world is watching the Middle East, and many
are watching with envy.
Speaker 5 (00:44):
You have something very special going on.
Speaker 2 (00:47):
Incredible opportunities are within reach for this region if we
can simply stop the aggression from a small group of
pretty bad actors.
Speaker 3 (00:56):
President Trump's remarks come after a day focused on deals
at the US Investment Forum. We get more on that
from Bloomberg's Jumana Barssecci. In the Saudi capitol, the White.
Speaker 6 (01:05):
House published the statements saying that they had agreed to
six hundred billion dollars worth of investments Saudi investments going
into the US that is to be spread out over
the next four years, and then later during the conference's speech,
he said that they're working on increasing that number to
one trillion dollars.
Speaker 7 (01:20):
So huge figures coming through.
Speaker 3 (01:22):
Bloomberg's Jumana Barsettchi reports some of the biggest deals are
with advanced US chip makers in Nvidia and Advanced micro
Devices have agreed to a ten billion dollar project to
provide their most cutting edge AI chips to Saudi Arabia's
humane infrastructure effort.
Speaker 2 (01:37):
Nathan from Saudi Arabia. President Trump will head today to Cutter,
where he's already taking criticism over a luxury gift. Cutter
is offering a Boeing seven forty seven eight jumbo jet
for the president to use as Air Force one. In
a social media post, the President says it'll only be
temporary until Boeing delivers newer versions of the presidential plane,
but Senate Minority Leader Chuck Schumer says taking this gift
(02:00):
would be unconstitutional.
Speaker 5 (02:01):
Gifting Donald Trump a four hundred million dollar private jet
to use as Air Force one is so corrupt that
even Putin would give a double take. This is not
just naked corruption, it is also a grave national security threat.
Speaker 2 (02:20):
Senate Minority Leader Chuck Schumer says he'll block President Trump's
a Justice Department nominees until he gets more answers.
Speaker 3 (02:27):
With certain markets. Now, Karen, it may have seemed unfathomable
a month ago, but stocks are now higher on the year.
The Nasdaq one hundred had been down twenty three percent
from its February nineteenth high to its April eighth low
after President Trump slapped broad tariffs on America's key trading partners.
The S and P also hit its low. Then it
was down fifteen percent on the year at the time.
(02:50):
That index is now higher by a tenth of a
percent in twenty twenty five. Brian Belski is chief investment
strategist at BEMO Capital Markets.
Speaker 8 (02:58):
Well, I think too many investors, quite frankly, try to
time the market instead of just being invested. And from
our perspective, stocks are hire six months from now, stocks
are higher twelve months from now. The resiliency of the
US market remains so and we think too many people
were led by fear and made binary decisions based on
(03:21):
emotion and not process or discipline. And that's why we
remain bullish, and that's why we think the secular bowl
market remains well in place.
Speaker 3 (03:28):
FEMO Capital Markets Brian Belski says his bowl case for
the sm P five hundred is sixty seven hundred. That's
about a fifteen percent gain from current levels.
Speaker 2 (03:37):
Nathan, it's been big tech that's been fueling the rally
over the past month. In Nvidia and Tesla's surged more
than thirty five percent. Well, Microsoft is that more than
twenty percent?
Speaker 9 (03:47):
Well.
Speaker 2 (03:47):
The S and P five hundreds plunge after Trump's tariff
announcement on April second was fast eleven percent in just
two sessions. It's bounce back has been almost as breathless.
The index rows seventeen percent from April fourteenth to May second,
the kind of thing that historically happens when the market
is recovering from a major catastrophe like the dot com bust,
the two thousand and eight financial crisis, and the COVID
(04:09):
nineteen pandemic.
Speaker 3 (04:10):
Well, Karen, President Trump may want oil prices to go lower.
In fact, Goldman Sachs, citing an in house analysis of
the president's social media posts, says he appears to prefer
oil between forty and fifty dollars a barrel WTI, which
right now is trading around sixty three dollars fifty cents,
has shed twelve percent so far this year, heard by
the fallout from the President's trade tariffs, as well as
(04:32):
a decision by OPEC plus to loosen supply curves at
a faster than expected pace.
Speaker 2 (04:37):
Nathan, there's optimism in Washington that House Republicans may reach
a compromise on the state and local tax deduction, and
we get the latest from Bloomberg's John Tucker.
Speaker 10 (04:46):
John Good morning, Good morning, Karen. Add this has been
a real big sticking point. House Speaker Mike Johnson telling
reporters that a deal on salt will be likely today.
It would represent a breakthrough in one of the thorniest
policy debates in President Trump's economic package. The Tax writing
Houseways and Means Committee is debating a proposal that calls
for increasing the salt cap from ten thousand to thirty
(05:08):
thousand dollars, phasing out for individuals who earn at least
two hundred thousand. Is a big deal for high tax
states where residents paid large property tax bills. Representative Mike Lawler,
a New York Republican who attended a meeting with Johnson
said the two signs are making progress, but another advocate
for Salt, Representative Nick Lolota, so the proposals floated are
(05:29):
still very far from what he wants. In New York,
I'm John Tucker Bloomberg Radio.
Speaker 3 (05:33):
All right, John, thank you. President Trump's tariffs may have
a major impact on the state of California. According to
Governor Gavin Newsom's finance department, the president's tariff policies are
projected to cut California's tax revenue by sixteen billion dollars
in the next fiscal year. However, that four percent revenue
dropped from a previous estimate is largely due to the
stock downturn last month after the President announced a sweeping
(05:54):
tariff campaign. Stocks, as we mentioned, have since rebounded well.
Speaker 2 (05:58):
Nathan Harvard Universe City is escalating its legal battle with
the White House. The Ivy League school has expanded its
lawsuit against the Trump administration for freezing billions of dollars
in federal funds. Harvard claims that federal agencies illegally halted
funding because the university refused to submit to government control
over its academic programs, and that the funding freeze will
(06:19):
chill its exercise a First Amendment rights. Yesterday, the Trump
administration cut another four hundred and fifty million dollars in
grants to Harvard University. That's in addition to the two
point two billion that was previously frozen. 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. Michael, Good Morning, Good.
Speaker 11 (06:41):
Morning, Karen. It is day three of the sex trafficking
and racketeering trial of Sean Diddy Comb's. Yesterday, Combe's former
girlfriend Cassie Ventura took the stand to test via about
her decade long relationship with the music mogul, including about
alleged day's long sexual marathons. Ventura says she was worse
to take part. Criminal defense lawyer Bernerda Villolona gave her
(07:04):
analysis of Tuesday's testimony.
Speaker 9 (07:06):
I was in the courtroom to hear her testimony. Than
what you saw was a woman that was broken, a
woman that was full of emotion and of regret and
is now having the courage and the strength to come
forward and say what happened to her.
Speaker 11 (07:19):
Criminal defense lawyer BERNARDA. Villolona Ventura is expected to return
to the witness stand today. Eric and Lyol Menendez will
have a new chance at freedom after thirty five years
behind bars from murdering their parents. A judge rule to
reduce the brother's sentences from life without parole to fifty
years to life. The resentencing means they are eligible for parole.
(07:41):
Their attorney Mark Gerrigos, reacting to the decision outside the courthouse.
Speaker 12 (07:45):
We have evolved.
Speaker 1 (07:47):
This is not the nineties anymore.
Speaker 12 (07:49):
We have a more robust understanding of a lot of things.
Speaker 11 (07:55):
They were convicted of murdering their entertainment executive father and
mother in their Beverly Hills home nineteen eighty nine. Prosecutors
opposed their resentencing, arguing that the brothers had not taken
full accountability for the crime. There is more talk of
a possible strike by New Jersey Transit that could begin
later this week. Talks had been underway before federal mediators
(08:15):
between the Brotherhood of Local Engineers and Trainmen and the
head of NJ Transit. The union that represents the engineers
is threatening to walk off the job as soon as
twelve oh one am Friday of a contract deal is
not reached and it could potentially impact three hundred and
fifty thousand commuters. Governor Phil Murphy, I.
Speaker 10 (08:35):
Think you'll leave all options on the table.
Speaker 3 (08:37):
I'm still hoping that we find some resolution here, but
we are.
Speaker 4 (08:40):
Preparing for the worst.
Speaker 11 (08:42):
Audio courtesy of ABC seven. A possible NJ transit strike
could have more of an impact than just on the
work commute. Shakira is scheduled to perform at Medlife Stadium
on Thursday and Friday night and earlier this week. NJ
Transit tolder fans not to count on train or bus
service to the stadium. Global News twenty four hours in
and whenever you want it with the Bloomberg News Now,
(09:02):
Michael Barr, this is Bloomberg Carrot.
Speaker 2 (09:04):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stanshawer, John, good morning.
Speaker 4 (09:14):
Good morning, Caunt. A two to one win for the Mets,
a two to one loss for the Yankees at Cityfield.
Brett Baty finally living up to the promise he's shown
in the miners with an opposite field seventh inning homer,
and the Mets top the Pirates, improving to seventeen and
four at home, the Mets won despite having only five hits.
In Seattle, Yankees, with just five hits did tie the
game of the ninetheenning, but the Mariners scored on the
(09:34):
eleventh for the victory. Of the road trip ends for
the day game today. The Nationals lost their seventh in
a row five to two in Atlanta. The Red Sox
lost in Detroit ten to nine in eleven ins. The
Tigers won on Hobby Bias' second three run homer of
the game. The Indiana Pacers, who took out the Nixon
Round two a year ago, this time took out Cleveland,
who had the great regular season with the Cavs, who
(09:54):
only lost seven home games over six months, lost three
and nine days. Facers came from nineteen down won the series,
clinching Game five one fourteen to one oh five. They'll
now play either the Knicks or Celtics, except three to
one going for the clincher tonight in Boston. The Celtics,
without Jason Tatum due to the torn achilles suffered late
in Game four. In the West, Denver and Oklahoma City
(10:15):
played a tight game five.
Speaker 12 (10:17):
Seven to shooting his team is down by three roles
tosses it up, Jokers wild to shoot, some help from Murray,
Kick George Extra Williams, Tomaway, Thunder late by.
Speaker 4 (10:35):
Thray Tantata Call. Oklahoma City won one twelve, one oh
five despite forty four points by Denvers Nicola Yokis Thunder
lead the series three two Dallas Stars three one win
over Winnipeg three to one series lead. It was the
Dave Pete Rose never lived to see, but his family
had recently lobbied on his behalf for his reinstatement to Baseball,
and Commisioner Rob Manford finally granted it. Satan's statement that
(10:57):
Rose can no longer present a threat to the games integrity,
so Baseball's hit king can now posthumously be voted to
the Hall of Fame. Tho, the earliest to what happened
is twenty twenty eight. John Stanshewer, Bloomberg Sports Kereny.
Speaker 1 (11:11):
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 3 (11:22):
Good morning, I'm Nathan Hager. President Donald Trump is shifting
focus from deal making to diplomacy as he kicks off
day two of his four day Middle Eastern trip. At
a meeting with the Golf Club Operation Council in Riod
this morning, heard live on Bloomberg Radio, the President said,
the days of the US turning its back on golf
allies are over.
Speaker 2 (11:41):
The Gulf nations.
Speaker 5 (11:42):
Are at the forefront of creating a stable, peaceful, and
prosperous Middle East, and I have to say that I've
seen such progress.
Speaker 2 (11:53):
It's really incredible.
Speaker 5 (11:54):
I've also seen great unity and friendship.
Speaker 3 (11:56):
President Trump there speaking at the Golf Cooperation Council this morning,
joining us from Riad once again. Bloomberg Horizons anchor Jumana
Barsechi Jamana, thanks so much for joining us, and I
guess the biggest headline to come out of the President's
remarks this morning is that the US is exploring normalized
relations with Syria. This would be quite the reversal among
(12:16):
many reversals we've seen on this trip so far.
Speaker 11 (12:19):
Good morning.
Speaker 7 (12:20):
Certainly unbelievable to think that we could be at the
phase six months ago. If you were wind back Assyria
was still under the grips of the Assad regime. So
much has changed in the region in the last six
months and I think today's meeting really encapsulates that. And
the fact that President Trump in has remarked yesterdy very
long speech that he gave at the Saudi Business Investment Forum,
(12:40):
obviously talking about all of the deals with big investments,
but one of the big headline moments, and I was
in the room, it was an electric atmosphere, was when
he announced that the US we're looking to remove the
sanctions on the Syrian government. And that was not with
a standing ovation and the loudest applause that he received
throughout the whole speech, and then followed up by a
(13:01):
one to one meeting that he had with that is
the new Syrian president today on the sidelines of the GCC.
The Syrian president obviously was a special invite, he's not
part of the g c C. He was invited to
at time this event, and then a picture was taken
with the Crown Prince, President Trump and Syrian President Ahman
Shada talking about the birth of a new Syria, and
(13:24):
President Trump quite literally said that this is their chance
to shine. There's an understanding that the Syrian government has
been or the Syrian that contry has been crippled by
the sanctions that have been in place for over a
decade now, a country that has been ravaged by war
under the oppressive Assad regime. Now is the focus on reconstruction,
rebuilding institutions, and regaining political stability, which I think is
(13:47):
one of the most powerful messages that came out of
President Trump's speech yesterday in terms of how the Trump
administration is thinking about the region and their priorities the
next few years.
Speaker 3 (13:57):
How seriously Jumana do Gulf al take the potential for
a pivot in the Syrian regime following the fall of
Bashar al Assade. Of course, Syria has long been an
ally of Russia and.
Speaker 7 (14:09):
Iran very seriously, and I think the president, the new
president is trying to say the right things and do
the right things. We can't forget he has jihadi roots,
Let's not forget that. So he's a bit of a
reformed politician, I should say himself. Even the way he dresses.
He dresses more in civilian clothes and he did, you
(14:32):
know five six years ago when he was a fighter
fighting against the Asad regime. But there's been also a
lot of talk about the type of governance that needs
to be in place and the need for pluralistic society,
one that respects all minorities, and that was the major concern.
If you remember, there was an incident a couple of
months back where I was actually a mass killing that
(14:54):
took place of the Alla white minority and one of
the coastal towns, and there was concerns here turns back
then that Syria may be gripped by again sectarian division.
But they've tried to thwart that move past it and
create a government that does feel more pluralistic. Obviously, it
remains to be seen how successful they're going to be.
(15:15):
That the only foreign trip that President shout out has
mete outside in the least with the France. Last week
he met with President macarel as being an easing of
sanctions from Europe. And now there's this double step of
the possible easing of sanctions from the United States as well.
So the United States really is presenting them with an opportunity,
alongside the GCC, to create something more stable in the region.
Speaker 2 (15:37):
This is Bloomberg Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:44):
Look for us on your podcast feed by six am
Eastern each morning on Apple Spotify, or anywhere else you listen.
Speaker 2 (15:50):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg in ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (16:04):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android auto interfaces.
Speaker 2 (16:10):
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 to stay informed all day long. I'm Karen Moscow.
Speaker 3 (16:23):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg dabray
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