May 18, 2024 • 4 mins
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Speaker 1 (00:01):
News when you want it. With Bloomberg News Now, I
made Kleggy. The stock market extended its advance into a
fourth consecutive week, with the down Jones Industrial Average closing
above the forty thousand mark Froddie for the first time
in its one hundred and twenty eight year history. Jeremy Siegel,
the Wharton School Professor emeritus of Finance, on where the
(00:22):
markets go from here, He says, it depends on what
the Fed does.
Speaker 2 (00:27):
You know, there's this big question about whether the Fed
will cut or not. What I keep on saying is
there's good cuts and there's bad cuts. Bad cuts. If
the economy slows a lot, that's not going to be
good for the stock market. Good cuts. If inflation slose
with the economy strong, wow, that's going to you know,
continue to propel the market upwards. So it's not just
(00:48):
a matter of waiting for cuts, it's a question of
what will prompt those cut.
Speaker 1 (00:53):
Jeremy Siegel, speaking with Bloomberg's Remain Bostick and Alex Steele.
The abrupt breakout happened at the very last minute of
Wall Street trading, after the market spent most of the
session fluctuating as traders digested the recent gains. The information
reports that Apple is developing a significantly thinner version of
the iPhone that could be released as early as twenty
(01:15):
twenty five. According to three people with direct knowledge of
the project, the slimmer iPhone could be released concurrently with
the iPhone seventeen, expected in September twenty twenty five. This
according to the three people with the direct knowledge and
two others familiar with the project, it could be priced
higher than the iPhone proms, currently Apple's most expensive model,
(01:37):
starting at twelve hundred dollars. The people familiar with the
project described the new iPhone, internally code named D twenty three,
as a major redesign, similar to the iPhone X, which
Apple marketed as a technological leap from previous generations and
which started at one thousand dollars when it was released
in twenty seventeen. Workers at two Mercedes Benz factory near Tuscaloosa, Alabama,
(02:01):
voted overwhelmingly against joining the United Auto Workers on Friday,
a setback in the union's drive to organize plants in
the historically non union South. The workers voted fifty six
percent against the union, according to totals, released by the UAW,
which had people watching the vote as it was counted
by the National Labor Relations Board. About fifty two hundred
(02:22):
workers were eligible to vote at an auto assembly plant,
at a battery factory, and a near Vance, Alabama, not
far from Tuscaloosa. The loss slows the union's effort to
organize one hundred and fifty thousand workers at more than
a dozen non union auto factories, largely in the South.
Federal Reserve Chair Jerome Powell tested positive for COVID nineteen
(02:44):
late Thursday, of head spokesperson set in a statement quote,
Chair Pal tested positive for COVID nineteen and is experiencing
symptoms following centers for disease control and prevention guidance. He
is staying away from others and working at home unquote.
The Fed chief was scheduled to speak at the commencement
ceremony at Georgetown Law School in Washington on Sunday. He
(03:05):
will deliver those remarks via pre recorded video. David Rubinstein Carlisle,
co founder and host of Peer to Peer on Bloomberg Television,
sattown with Homeland Security Secretary Alejandro Mayorcis at the Economic
Club of Washington Friday, Rubinstein and Mayorcus touched on a
number of issues, including TikTok. The DHS secretary says the
(03:25):
social media app is a threat.
Speaker 3 (03:27):
Because many many young people that access TikTok. I would
posit that in this country we don't have the level
of digital literacy that I think we would all want.
We're all vulnerable to disinformation, and the reality is that
(03:47):
we have an obligation to safeguard against it. We're talking
about the intentional dissemination of false information.
Speaker 1 (03:54):
Subscribe to the Bloomberg Talks podcast to hear more of
David Rubinstein's interview with Homeland Security Secretary Alejandra Mayorcis. Scotty Scheffler,
the world's top rank golfer, was arrested Friday on his
way to the PGA Championship after he tried to drive
into Valhalla Golf Club following an unrelated fatal traffic accident.
A detective was hospitalized after being dragged by Scheffler's vehicle
(04:16):
as Scheffler was attempting to drive around the crash scene.
After a police officer told him to stop, he was
pulled out of the car, handcuffed, and taken to jail.
Scheffler was released, returned to the course, made his tea
time and shot five under for the round. Round two
was suspended due to darkness. Play will resume Saturday at
seven am Eastern. Xander Schoffley is twelve under. He enjoys
(04:37):
a one shot lead. And that's news when you wanted
with Bloomberg news. Now I made Kleggy and this is
Bloomberg
News when you want it. With Bloomberg News Now, I
made Kleggy. The stock market extended its advance into a
fourth consecutive week, with the down Jones Industrial Average closing
above the forty thousand mark Froddie for the first time
in its one hundred and twenty eight year history. Jeremy Siegel,
the Wharton School Professor emeritus of Finance, on where the
(00:22):
markets go from here, He says, it depends on what
the Fed does.
Speaker 2 (00:27):
You know, there's this big question about whether the Fed
will cut or not. What I keep on saying is
there's good cuts and there's bad cuts. Bad cuts. If
the economy slows a lot, that's not going to be
good for the stock market. Good cuts. If inflation slose
with the economy strong, wow, that's going to you know,
continue to propel the market upwards. So it's not just
(00:48):
a matter of waiting for cuts, it's a question of
what will prompt those cut.
Speaker 1 (00:53):
Jeremy Siegel, speaking with Bloomberg's Remain Bostick and Alex Steele.
The abrupt breakout happened at the very last minute of
Wall Street trading, after the market spent most of the
session fluctuating as traders digested the recent gains. The information
reports that Apple is developing a significantly thinner version of
the iPhone that could be released as early as twenty
(01:15):
twenty five. According to three people with direct knowledge of
the project, the slimmer iPhone could be released concurrently with
the iPhone seventeen, expected in September twenty twenty five. This
according to the three people with the direct knowledge and
two others familiar with the project, it could be priced
higher than the iPhone proms, currently Apple's most expensive model,
(01:37):
starting at twelve hundred dollars. The people familiar with the
project described the new iPhone, internally code named D twenty three,
as a major redesign, similar to the iPhone X, which
Apple marketed as a technological leap from previous generations and
which started at one thousand dollars when it was released
in twenty seventeen. Workers at two Mercedes Benz factory near Tuscaloosa, Alabama,
(02:01):
voted overwhelmingly against joining the United Auto Workers on Friday,
a setback in the union's drive to organize plants in
the historically non union South. The workers voted fifty six
percent against the union, according to totals, released by the UAW,
which had people watching the vote as it was counted
by the National Labor Relations Board. About fifty two hundred
(02:22):
workers were eligible to vote at an auto assembly plant,
at a battery factory, and a near Vance, Alabama, not
far from Tuscaloosa. The loss slows the union's effort to
organize one hundred and fifty thousand workers at more than
a dozen non union auto factories, largely in the South.
Federal Reserve Chair Jerome Powell tested positive for COVID nineteen
(02:44):
late Thursday, of head spokesperson set in a statement quote,
Chair Pal tested positive for COVID nineteen and is experiencing
symptoms following centers for disease control and prevention guidance. He
is staying away from others and working at home unquote.
The Fed chief was scheduled to speak at the commencement
ceremony at Georgetown Law School in Washington on Sunday. He
(03:05):
will deliver those remarks via pre recorded video. David Rubinstein Carlisle,
co founder and host of Peer to Peer on Bloomberg Television,
sattown with Homeland Security Secretary Alejandro Mayorcis at the Economic
Club of Washington Friday, Rubinstein and Mayorcus touched on a
number of issues, including TikTok. The DHS secretary says the
(03:25):
social media app is a threat.
Speaker 3 (03:27):
Because many many young people that access TikTok. I would
posit that in this country we don't have the level
of digital literacy that I think we would all want.
We're all vulnerable to disinformation, and the reality is that
(03:47):
we have an obligation to safeguard against it. We're talking
about the intentional dissemination of false information.
Speaker 1 (03:54):
Subscribe to the Bloomberg Talks podcast to hear more of
David Rubinstein's interview with Homeland Security Secretary Alejandra Mayorcis. Scotty Scheffler,
the world's top rank golfer, was arrested Friday on his
way to the PGA Championship after he tried to drive
into Valhalla Golf Club following an unrelated fatal traffic accident.
A detective was hospitalized after being dragged by Scheffler's vehicle
(04:16):
as Scheffler was attempting to drive around the crash scene.
After a police officer told him to stop, he was
pulled out of the car, handcuffed, and taken to jail.
Scheffler was released, returned to the course, made his tea
time and shot five under for the round. Round two
was suspended due to darkness. Play will resume Saturday at
seven am Eastern. Xander Schoffley is twelve under. He enjoys
(04:37):
a one shot lead. And that's news when you wanted
with Bloomberg news. Now I made Kleggy and this is
Bloomberg
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