July 6, 2025 • 4 mins
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Speaker 1 (00:01):
News when you want it. With Bloomberg News Now, I'm
Doug Prisner. We begin in Texas, where nearly eighty people
have died and many children are missing after catastrophic flooding
in the Texas Hill Country. Authorities are now warning the
casualty count will climb as more rain as in the
forecast and with that increased risk of further flash floods
in the coming days. Here is Texas Governor Greg Abbott.
Speaker 2 (00:24):
Even though we now are broadening the area that we're
focused on, we are not at all reducing our focus
on Curbill.
Speaker 1 (00:32):
That is Texas Governor Greg Abbott. Meantime, President Trump assigned
a major disaster declaration for the county and the President
is expecting to travel to Texas on Friday. The deadline
is fast approaching for US trading partners to secure deals
and avoid higher reciprocal tariffs before that July ninth trade deadline.
(00:53):
This evening, President Trump signaled an extra ten percent tariff
on countries aligned with the Bricks Block. I'm called Bricks
policies Anti American. Now, India is a founding member of Bricks.
It's now exposed to additional levies as it scrambles to
get a trade deal done as soon as possible with
the US, China, Brazil, South Africa. They are also founding
(01:15):
members of Bricks. Earlier today, Treasury Secretary Besson suggested some
countries will have the option of a three week extension
to negotiate beston acknowledge the sheer number of ongoing trade
talks is complicating the final stages. Here is Beson speaking
on CNN's State of the Union.
Speaker 3 (01:33):
We're going to be very busy over the next seventy
two hours. We are going to President Trump's going to
be sending letters to some of our trading partners saying
that if you don't move things along, then on August first,
you will boomerang back to your April second tariff level.
So I think we're going to see a lot of
deals very quickly.
Speaker 1 (01:54):
That is Treasury Secretary Scott Besson speaking on CNN State
of the Union. President Trump's accent spending bill is now law,
and today House Speaker Mike Johnson pushed back against Democratic
criticism of the bill, saying that it will boost the economy.
Here's Johnson speaking to Fox News Sunday.
Speaker 4 (02:11):
What we did in this bill is we made permanent
the twenty seventeen Trump's tax cuts, and that was geared
for lower and middle class Americans in spite of everything.
They said that the bottom twenty percent of earners saw
their Lewis federal tax rate in forty years. Now we're
building upon that. We just made that permanent, and we're
building upon it because now we cut tax on overtime
and tips and had more tax relief for seniors, and
(02:33):
we're giving everybody a tax cut, and that's going to
help the economy. It's going to be get fuel.
Speaker 1 (02:38):
That is House Speaker Mike Johnson, speaking earlier on Fox
News Sunday. He went on to say that he is
expecting a second reconciliation bill by fall and a third
by spring, before the end of the current Congress. Meantime,
former US Treasury Secretary Larry Summers says that he disagrees
with this legislation. Summers spoke on ABC's This Week.
Speaker 2 (03:00):
There is no economist anywhere without a strong political agenda
who is saying that this bill is a positive for
the economy, and the overwhelming view is that it is
probably going to make the economy worse.
Speaker 1 (03:16):
That is Larry Summer's former US Treasury Secretary speaking to
ABC's This Week, we turned to the Middle East next
and President Trump saying there's a good chance that a
ceasefire deal with Hamas can be reached. Here's Trump.
Speaker 5 (03:29):
I think there's a good.
Speaker 2 (03:30):
Chance we have a deal with Amas.
Speaker 3 (03:33):
During the week, during.
Speaker 2 (03:34):
The coming week. Pertaining to quite a few of the
hostage Yes, you know, we've gotten a lot of the
hostages out, but pertaining to the remaining hostages.
Speaker 4 (03:43):
Quite a few of them will be coming out.
Speaker 2 (03:44):
We think we'll have that done this week.
Speaker 1 (03:47):
That was President Trump speaking there. These comments come ahead
of Israeli Prime Minister Benjamin Etniyahoo's visit to the White
House tomorrow. Wall Street will return from a long holiday
weekend with US stocks at a record high. We have
a look ahead from Bloomberg's Charlie Pellett.
Speaker 5 (04:03):
This week's focus is on the tariff deadline and FED minutes,
along with a smattering of earnings reports. Sylvia Jablonski is
chief investment officer at Defiance ETFs.
Speaker 1 (04:14):
Earnings are expected to be five percent or more. My
take is that AI and some of that tech is
going to make that number look a little bit better, and.
Speaker 4 (04:22):
Then you can get a rally for that.
Speaker 2 (04:23):
You know, tariffs not as bad as we thought.
Speaker 5 (04:25):
Among the company's schedule to report earnings this week Delta Airlines,
ConAgra Brands, and the newly public Circle Internet Group in
New York. Charlie Pellett Bloomberg Radio, and that is news
when you wanted with Bloomberg News. Now, I'm Doug Prisner,
and this is Bloomberg
News when you want it. With Bloomberg News Now, I'm
Doug Prisner. We begin in Texas, where nearly eighty people
have died and many children are missing after catastrophic flooding
in the Texas Hill Country. Authorities are now warning the
casualty count will climb as more rain as in the
forecast and with that increased risk of further flash floods
in the coming days. Here is Texas Governor Greg Abbott.
Speaker 2 (00:24):
Even though we now are broadening the area that we're
focused on, we are not at all reducing our focus
on Curbill.
Speaker 1 (00:32):
That is Texas Governor Greg Abbott. Meantime, President Trump assigned
a major disaster declaration for the county and the President
is expecting to travel to Texas on Friday. The deadline
is fast approaching for US trading partners to secure deals
and avoid higher reciprocal tariffs before that July ninth trade deadline.
(00:53):
This evening, President Trump signaled an extra ten percent tariff
on countries aligned with the Bricks Block. I'm called Bricks
policies Anti American. Now, India is a founding member of Bricks.
It's now exposed to additional levies as it scrambles to
get a trade deal done as soon as possible with
the US, China, Brazil, South Africa. They are also founding
(01:15):
members of Bricks. Earlier today, Treasury Secretary Besson suggested some
countries will have the option of a three week extension
to negotiate beston acknowledge the sheer number of ongoing trade
talks is complicating the final stages. Here is Beson speaking
on CNN's State of the Union.
Speaker 3 (01:33):
We're going to be very busy over the next seventy
two hours. We are going to President Trump's going to
be sending letters to some of our trading partners saying
that if you don't move things along, then on August first,
you will boomerang back to your April second tariff level.
So I think we're going to see a lot of
deals very quickly.
Speaker 1 (01:54):
That is Treasury Secretary Scott Besson speaking on CNN State
of the Union. President Trump's accent spending bill is now law,
and today House Speaker Mike Johnson pushed back against Democratic
criticism of the bill, saying that it will boost the economy.
Here's Johnson speaking to Fox News Sunday.
Speaker 4 (02:11):
What we did in this bill is we made permanent
the twenty seventeen Trump's tax cuts, and that was geared
for lower and middle class Americans in spite of everything.
They said that the bottom twenty percent of earners saw
their Lewis federal tax rate in forty years. Now we're
building upon that. We just made that permanent, and we're
building upon it because now we cut tax on overtime
and tips and had more tax relief for seniors, and
(02:33):
we're giving everybody a tax cut, and that's going to
help the economy. It's going to be get fuel.
Speaker 1 (02:38):
That is House Speaker Mike Johnson, speaking earlier on Fox
News Sunday. He went on to say that he is
expecting a second reconciliation bill by fall and a third
by spring, before the end of the current Congress. Meantime,
former US Treasury Secretary Larry Summers says that he disagrees
with this legislation. Summers spoke on ABC's This Week.
Speaker 2 (03:00):
There is no economist anywhere without a strong political agenda
who is saying that this bill is a positive for
the economy, and the overwhelming view is that it is
probably going to make the economy worse.
Speaker 1 (03:16):
That is Larry Summer's former US Treasury Secretary speaking to
ABC's This Week, we turned to the Middle East next
and President Trump saying there's a good chance that a
ceasefire deal with Hamas can be reached. Here's Trump.
Speaker 5 (03:29):
I think there's a good.
Speaker 2 (03:30):
Chance we have a deal with Amas.
Speaker 3 (03:33):
During the week, during.
Speaker 2 (03:34):
The coming week. Pertaining to quite a few of the
hostage Yes, you know, we've gotten a lot of the
hostages out, but pertaining to the remaining hostages.
Speaker 4 (03:43):
Quite a few of them will be coming out.
Speaker 2 (03:44):
We think we'll have that done this week.
Speaker 1 (03:47):
That was President Trump speaking there. These comments come ahead
of Israeli Prime Minister Benjamin Etniyahoo's visit to the White
House tomorrow. Wall Street will return from a long holiday
weekend with US stocks at a record high. We have
a look ahead from Bloomberg's Charlie Pellett.
Speaker 5 (04:03):
This week's focus is on the tariff deadline and FED minutes,
along with a smattering of earnings reports. Sylvia Jablonski is
chief investment officer at Defiance ETFs.
Speaker 1 (04:14):
Earnings are expected to be five percent or more. My
take is that AI and some of that tech is
going to make that number look a little bit better, and.
Speaker 4 (04:22):
Then you can get a rally for that.
Speaker 2 (04:23):
You know, tariffs not as bad as we thought.
Speaker 5 (04:25):
Among the company's schedule to report earnings this week Delta Airlines,
ConAgra Brands, and the newly public Circle Internet Group in
New York. Charlie Pellett Bloomberg Radio, and that is news
when you wanted with Bloomberg News. Now, I'm Doug Prisner,
and this is Bloomberg
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