Live from the Bloomberg Interactive Burger Studios. This is Bloomberg day Break for a Friday, June two. Coming up this hour, the Senate passes a bipartisan gun safety bill, Boris Johnson suffers a big defeat. In the UK, stocks are on track for their first weekly gain in a month, and banks ace the FED stress tests. New York lawmakers react to the Supreme Court's decision on guns. Plus, the Long Island Library admits it made a mistake in banning LGBTQ content.
I'm Michael war More Ahead, I'm John Stay Sharon, Sports high drama and the Bronx a ninth ginning Yankee rally to stun the Astros. They held the NBA draft in Brooklyn. That's All's trading ahead on Bloomberg Daybreak on Bloomberg Eliven Free on New York, Bloomberg N one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco, syrius XM one nineteen and around the world on Bloomberg
Radio dot Com and via the Bloomberg Business app. Good Morning, I'm Nathan Hagar and I'm Karen Moscow and US Dot Index futures are on the rise this morning. We're coming up to six show one on Wall Street and we check the markets every fifteen minutes throughout the trading day. On Bloomberg, SNP future is up thirty one points this morning. DAL futures have two hundred and nineteen and Asdack futures
have one d fourteen. The ten year treasury little change you have three point eight percent and they yield on the two year at three point oh one percent, and NIMEX scrude oil is up one point four percent. Nathan Karen will have more on markets in a minute, but first, the Senate has passed bipartisan gun safety legislation by a wide margin. We get the latest from Amy Morris in our Bloomberg newsroom in Washington. It is being hailed as
the biggest breakthrough on gun safety in thirty years. The bill will improve background checks, secure schools, and gives more funds to states to tamp down gun violence. Republican John Cornyn of Texas was one of the negotiators. Will it save lives? Will it save lives? And I believe the answer to that is yes, and that makes us worth doing. The House is expected to pass the bill and send it to President Biden's desk for his signature before leaving
for a two week recess in Washington. I'm Amy Morris, Bloomberg Daybreak, Amy, thank you to send His action on guns safety comes after an altogether different move at the Supreme Court. The Justice has struck down the New York law that prevents most people from carrying guns in public. Republican Congressman Kevin Brady of Texas says, it's the right call.
I think the President uh concerned that this is dangerous a requisit just in real life in real states where this has been around for an awfully long time, you know, none of those concerns have occurred by Democratic Senator John Ausuff of Georgia says, this good said a dangerous president. Well, look, one of the things that I hear consistently across the state of Georgia is strong support from law enforcement for
common sense gun safety measures. Senator ass Off and Congressman Brady spoke with our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the Show weekdays at five pm Eastering on Bloomberg Radio. Well, even before that ruling, Karen confidence in the Supreme Court has reached a new low. Let's get the latest live from Bloomberg's Rnita Young. Good morning, Grenita,
Good morning Nathan. A Gallop Pole measuring faith in institutions over fifty years shows many societal pillars are having a bad year, but the eleven point drop for the nation's highest court is about double the decline experienced by other institutions. In the survey, confidence in the Supreme Court this year has slid among Democrats from thirty percent to thirteen percent,
and from forty to twenty five among independents. For Republicans, the Gallop Pole says confidence has risen from thirty seven percent to thirty nine percent. The poll was completed a few days before the High Court's decision yesterday striking down the New York gun law. Live in New York. I'm Rnita Young, bloom Burke Day Break. All Right, we need to thank you. Another major story we're following this morning
focuses on the insurrection at the Capitol. The January six Committees fifth session centered on pressure former President Trump put on the Department of Justice to help overturn the election. Bloomberg said, Baxter has the story. It focused on the attempt to force the d o J to throw out the slate of electors in Georgia, to meetings that threatened Assistant Attorney's General, including Richard Donohue, saying that they would lose their jobs. He said, people tell me I should
just get rid of both of you. I should just remove you and UM make a change in leadership with Jeff Clark in, maybe something will finally get done. Chair Bennie Thompson. We've shown the workings of what was essentially a political coup. Thompson says the next session will focus on how Donald Trump summoned the mom to Washington and that violence became his last option in San Francisco. I'm at Baxter Bloomberg Daybreak. Thanks, and we also have some
news on trade. This morning. Bloomberg News has learned the US is set to escalate claim that Mexico violated a free trade agreement. The dispute has to do with Mexican policies that favor state run energy companies. Dragged out conflict could lead the US to impost tariffs on Mexico. Well, in Europe, Nathan, there's a big election defeat for Boris Johnson. We go to London and get the latest of Bloomberg's U and parts, good Morning You and good Morning Nathan Karen.
A double election defeat for the UK Prime Minister Boris Johnson's Conservative Party, losing two special elections, including one in a district where last time he secured six of all votes. Johnson says he will listen to voters after the defeat, but in a resignation letter this morning, the Conservative Party chairman said we cannot carry on with business as usual
in London. I'm you and pots Pinberg daybreak you and banks shares the financial companies are higher in early trading after banks aced the latest round of stress tests from the FED. When we get the story from Bloomberg stud Chrisner. Even in a challenging the FED determined banks had to Asian capital to withstand a severe recession think of it as a worst case searching unemployment, collapsing real estate prices,
and to wipeout inequities now. The test also looked at whether trading operations at firms like JP Morgan, Chase, Morgan Stanley and Goldman Sachs could hold up against a hypothetical market shock. In all the tests assumed combined losses of six hundred twelve billion dollars. So with passing marks, banks are now free to return eighty billion dollars to their shareholders. In New York, I'm Doug Prisoner, Bloomberg daybreak. All right, thank you, while turning to the markets now, and we
apologize for the earlier error with the tape there. The bounce back on Wall Street continues. Futures are higher, building on three straight days of gains for the SMP five hundred. The index has risen more than three percent during this holiday short and trading week the year from Rebecca Corbin, the CEO of Corban Advisors, who says investors just one certainty, even in a challenging economic backdrop, If they have certainty with regard to what to expect, the equity markets will
decouple from the economic performance. And Rebecca Corbin of Corban Advisors knows the SNP five hundred is on track for its first weekly gain in a month. Futures this morning are on the rise. SMP futures up thirty points. Straight ahead, your latest local headlines, splus the check of sports, and this is Bloomberg. Karen, Thanks at six oh seven on Wall Street war sixty three degrees in Central Park. It's still dealing with problems on the Long Island Railroad this morning.
We'll get to the details in traffic, but first Michael Barr is here with what else is going on in New York and around the world. Good morning, Michael, Good morning Nathan. New York lawmakers are reacting to the Supreme Court's ruling striking down the state century old law limiting the right to carry a concealed handgun in public. Governor Kathy Oakel says the decision isn't just reckless, is reprehensible.
Heaven help us if that's what they're going to continue doing with with laws and having us go back to that time in history, unrelated to the current circumstances where we have a gun violence crisis on our hands. New York Mayor Eric Adams echoed Governor Hockle's remarks, he cannot allow New York to become the Wow Wow West. That is unacceptable. Mayor Adams says the decision ignores the shocking crisis of gun violence every day in gulfing not only
New York, but our entire country. Former New York Mayor build a Blasio our law enforcement officials for decades have believed this kind of approach. These strong gun safety laws are particularly important place like New York, and the Supreme Court just really spit in the face of law enforcement. Former Mayor to Blasio spoke to Bloomberg Radio. Meanwhile, State Republican Committee Chairman Nick Langworthy says Democrats are trying to create fear and division over what he characterizes as legal
gun owners rights to protect themselves and their families. The New York City Council will hold a hearing at noon today on school budget cuts. Mayor Adams gave his urrance is at the reduction would coincide with falling enrollment rates. However, the Council wants to look at the Department of Educations changes to the formula used to calculate how much money
is allotted to each school. A Long Island Board of trustees admits it was a wrong decision to ban LGBTQ content from the children's section of a library, including books and displays. The Smithtown Library Board of Trustees apologized and voted last night for two to reverse the previous vote initially banning the content. The decision came after Governor Hokol
called for human rights investigation into the matter. Walking appointments in the New York City temporary clinic giving monkeypox vaccines had to be halted. Officials say there was so much high demand at the Chelsea clinic they couldn't accommodate. Walking's global news twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael
Barr and this is Bloomberg, Nathan, Thank you, Michael. Come up to six ten on Wall Street. John stash Are has a Bloomberg Sports Updated, Thanks Dafin. The Yankees and Astros are developed quite the rivalry, and here they are games two best teams in American League and Water start to the four game series of the Stadium. Three run homers all over early on Alec Fregman before there was an out recorded John Carlo Stanton bottom of the first.
Jordan Alvarez is twenty second of the year. It remains six three Astros from the top of the third to the bottom of the ninth. Another three run homer, this one from Aaron Hicks to tide of the game at six, and the Yanks were not done, and Judge came to the play and the three oh line hard deep Della Field baysh Trevino round third. He's coming home. Turvino scores four game over Yankees win. Yankees w F A and seven six, win their ninth walk off victory. They're fifteenth
in a row in the Bronx. Longest home win speaks of nineteen sixty one. Judge will spend today at an arbitration here in too determined if he makes twenty one million dollars this year for seventeen. Bigger financial issue with Doud is what happens after the season. He's just three agents. NBA draft and Brooklyn the next did not have any picks that Nicks had. The eleven pick traded at Okloma City, one of a few trades the Knicks made. In the end.
They were able to rid themselves of Kemba Walker, whose returned home to New York a year ago did not go well. Traded to Detroit. The Pistons expected to buy Kimba out and he'll be a free agent. Duke's Palo Bon Cairo taken first overall by Orlando Rory McElroy shot sixty two for the opening round, leading hard for the Colorado Avalanche, up three one on Tampa Bay Ken Tonight win this Dan Lka, John Dash Award Bloomberg Sports. Thank
you all right, John, thank you right now. I sent p futures are highed by thirty two points adding to their games this morning. Dew futures up two to thirty six. Nastack futures are hired by a hundred twenty one points. That is a gain of one per cent. Send your Treasury now down five thirty second is the yield three point one zero percent. This is Bloomberg Bloomberg Day Break, brought to you by Hofstra University's Frank gz R School of Business, top ranked online NBA program of the Real
World Foundation. Learn more at Hofstra dot e d u slash go grad markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, the Bloomberg Business Outland at Bloomberg Quick takes a Bloomberg Business Flash, and I'm Karen Moscow. The technology sector giving a look to stocks and bonds are holding a rally as investors evaluate economic threats and scale back expectations for inflation. And interest rate hikes. We checked the markets every fifteen minutes throughout
the trading day on Bloomberg. Right now, US and P futures are up thirty two points down futures have two D thirty and NASDACK futures up a hundred twenty. The deck Center Many is up nine tenths of up percent. Ten year Treasury down four thirty seconds. You have three point one zero percent and the yield on a two year three point three percent. NIMEX screwed oil is up one point four percent of a dollar forty three and
a hundred five dollars seventy cents of barrel. Comex school this it'll change at one thousand, eight hundred twenty eight dollars announced, The euro one point oh five for eight against the dollar, British bound one point to two nine four and the end at one thirty five point one too. And Bitcoin this morning is up four tenths percent at twenty thousand, eight hundred eighty dollars. As a Bloomberg Business flash, now here's Michael Barr with more on what's going on
around the world. Uncle Karen, thank you very much. Congress is on the verge of approving of thirteen billion dollar bipartisan gun violence bill. How's approval is expected today on legislation that would be the lawmaker's most sweeping answer in decades. The Senate approved the measure yesterday, with fifteen Republicans joining Democrats and backing passage. How's GOP representatives Matt Gate, Scott Perry, Andy Biggs, Louis Gohmert, and Moe Brooks all contacted White
Al staffers seeking pardons from Donald Trump. According to video testimony played by the committee investigating the January sixth riot at the US Capitol. In baseball, the Yankees one along with the Orioles, the Giant, and as lost. Global News twenty four hours a day on air, rand on Bloomberg Quick Take, powered by more than twenty hundred journalists analysts more than a hundred twenty countries. Michael bar this is Bloomberg. Nathan all right, Michael, Thanks at six nineteen on Wall
Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, with so many historic developments happening in just the last couple of hours, really in Washington, d C. We're very pleased to be joined by Terry Haynes, founder of PANGEA Policy to sort out what's going on, particularly on the guns issue. Terry, good morning. We've had the first significant piece of gun safety legislation to move forward
on Capitol Hill in decades. At the same time, we've gotten the first major expansion of gun rights to come out of the Supreme Court in more than a decade. What's the impact, good morning, Nathan. Uh, you know, I think the impact is what people ought to look at. I think, uh, between the headlines and potential dissonance of
this here is that there really isn't any dissonance. Uh. And you know, don't believe me, believe the United States Senate because that that Supreme Court ruling came out yesterday, which I'd largely look at, as you know, it's an important ruling, but it's a detail ruling to detail about about how states can regulate gun carry. And nobody in the Senate stood up and said, wait a minute, we've
got to completely redo what we're doing here. Uh. Nobody said, you know, this is fundamentally at odds with what we're doing. None of that stuff, and uh, you know, and you know, I find the the voices of reason here to be First, the New York Police Commissioners said, you know, nothing changes if you're uh, you know, if you're carrying a gun illegally, you're still going to get arrested and prosecuted. Justice Kavanaugh, I think importantly, said, look, you know, you can still
do a lot of things. You can still require fingerprinting, background check, metal health training and firearms handling, all those sorts of things. You just can't involve yourself in the sort of you know, sensitive place uh in you know, good moral character, sorts of things that New York had
been doing. Um And finally, you know, you're gonna see a shakeout period, I think where you know, there's still gonna be a battle over the precise parameters concealed carry legislation, you know, but nothing here, you know, fundamentally strikes at the heart of being able to do the sorts of things that Congress and the President are about to do on guns. So you know, we have a you know,
I think we have a good net good here. Frankly, in terms though of the Supreme Court justifying now the Second Amendment as as applying to the right to carry arms outside the home, that does set a significant precedent in terms of what states can do in terms of regulating firearms. Doesn't it? I think it's a I certainly
think it's a clarification. But you know, I will I will say I think that you know, anybody that expresses shock over the idea that the Court was going to that the Court might or excuse me, anybody was going to express shock over the idea that the Court was somehow going to regulate carry outside the home. Uh, you know, I think it was dreaming. That's clearly not the thrust
of the Second Amendment. However you feel about the militia clause. Uh, So, you know, net net um, you know what we have here is we have an affirmation of of of an existing rights with some more specificity rather than an expansion that in my own view, In terms of the bill that is going now to the House, the Bipartisan Gun Safety Legislation, we had fifteen Republicans vote with Democrats in the Senate, and we spoke with Texas Republican Congressman Kevin Brady.
He sounds like he's on board with this bill as well. Even though the National Rifle Association has come out against it. Is their potential for political blowback for Republicans who support this legislation, Um, I think a little bit. But the yeah, but I think what you see is, you know, there's
potential for blowback from Democrats or four Democrats and Republicans. Frankly, you have, uh, you have absolutists or purists on both sides that will be very very disappointed to anybody that wants to adopt a more centrist or more incrementalist position. But you know, the fact of the matter here is that you know, both parties have been engaging for decades now in more absolutist positions that that wardered the ability of of good common sense laws like the one they're
the one that's about to become law provide. And you know Democrats were even ten years ago on the background check business. As many Democrats voted against the background check laws, Republicans voted for it. Both parties carry I think the the stain of you know, not wanting to are wanting to have the perfect be of the enemy the good and that's about to uh, that's about to change, and that's a good thing. Broader too. Thanks as always Terry
for being with us for your insights. Terry Haynes is the founder of Pangea Policy and the interest of Transparency. We should note that Michael Bloomberg, the founder and majority owner of Bloomberg Radio parent company Bloomberg LP, donates two groups that support gun control, including Every Town for Gun Safety. Right now, SMP futures are up twenty nine points. Now futures of NAZAC futures hired by one hundred twelve points.
You're listening to Bloomberg day Break Bloomberg eleven three oh weather turning partly Sunday with highs and the low eighties. Today will be in the oper eighties, maybe ninety degrees for the weekend. Current temperature in Central Park sixty three degrees. Broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Bloomberg E Living Free on to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg Non sixty to the country Sirius XM chto one nineteen and around the globe the Bloomberg Business app in Bloomberg Radio dot com. This is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Karen mos Gaw. We are just about three hours away from the open of US training. It's time for the five things you need to notice start your day.
Brought to you by I b k R Investment Advisers switched to Interactive Brokers for lowest cost global training and turnkey custody solutions, no ticket charges and no conflicts of your interests at I b k R dot com slash r. I a first, a major piece of gun safety legislation in decades, has passed this Senate by a wide margin. It now heads to the House, where Texas Republican Kevin Brady says it should get by partisan support. I think
hardening the schools makes good sense. And uh, I think uh oping the penalties on those who draw purchase who are buying specifically to give to someone you know who is analygible normally criminals there. You know, I really think that is that is very helpful. Republican Congressman Kevin Brady spoke with our Washington corresponded Joe Matthew on Bloomberg Sound on Catch the Show weekdays at five pm Eastern on
Bloomberg Radio. Well, the move comes the same day Karen that the Supreme Court struck down a New York law that required people to show a special need to carry end gun in public. Meantime, Nathan aheaded at controversial ruling and confidence in the Supreme Court reached a new low. When we get the latest life from Bloomberg's Reneed a
young good Morning, Ready to good morning, Karen. A gallop pole measuring faith in institutions over fifty years shows many societal pillars are having a bad year, but the eleven point dropped for the nation's highest court is about double
the decline experienced by other institutions. In the survey, confidence in the Supreme Court this year has slid among Democrats from thirty percent to percent, and from forty to twenty five percent among Independence For Republicans, the gallop Pole says confidence has risen from thirty seven to thirty nine percent. Live in New York, I'm reneed a young Bloomberg daybreak, we need to thank you and europe. Boris Johnson has suffered a major election upset, losing a formerly safe parliament
set in Southwest England. Separately, Johnson's party was beaten by Labor, raising fresh questions about the Prime Minister's popularity well. Turning to the markets now, Nathan, futures are higher, WES stocks on track for their first weekly gain in a month, The SNP is game more than three percent in this shortened holiday trading week, and Wall Street's biggest banks are now set to return tens of billions of dollars to investors. Karen, Banks all passed the Federal Reserves annual test of their
ability to withstand market term. Wall shares a fed except about three percent in early trading. Nathan, the delivery service company forecast annual earnings that beat Atalysts estimates. And that's the five things that you need to notice start your day. Brought to you by Interactive Brokers and straight to head your latest local headlines, plus a check of sports. And this is Bloomberg. Thanks and Wall Street. Sixty three degrees in Central Park and still dealing with a service suspension
on the Long Island Railroad. Will fleeing with the details and traffic shortly. First, Michael Barr has more on what's going on in New York and around the world. Michael, thank you very much. Nathan. New York lawmakers are reacting to the Supreme Court's ruling striking down the state century old law limiting the right to carry a concealed handgun in public. Governor Kathy Hocle says the decision isn't just reckless, it's reprehensible. You have taken away our right to have
reasonable restrictions. We can have restrictions on speech, you can't yell fire in a crowded theater, but somehow there's no restrictions allowed on the Second Amendment. New York committing Eric Adams echoed Governor Hocle's remarks. While we're still analyzing the decision, we can say with certainty this decision has made every single one of us less safe from gun violence many or. Adams says, New York can't be the wild Wild West.
Congressman Richie Torres represents part of New York City. The ability of masses of people to carry guns in New York City is going to fundamentally change life in the city as we know. Congressman Tours says the Supreme Court is undermining the ability of cities like New York to keep the public safe. Meanwhile, State Republican Committee Chairman Nick Langworthy says Democrats are trying to create fear and division over what he characterizes as legal gun owners rights to
protect themselves and their families. All of this on the same day, an NYPD detective was injured after gunfire erupted in the Brownsville section of Brooklyn in m p D. Officials say two officers were inside a marked vehicle when shots rang out. The suspect escaped after a brief chase. The Manhattan District Attorney's Office is hosting a gun buy back event. It will take place tomorrow at the Soul Saving Station Church in Harlem, New Yorkers will be allowed
to turn over up to five guns. It's five hundred dollars for assault rifles, a hundred fifty for rifles or shotguns, and fifty dollars for BB guns or imitation pistols. It was one year ago today that of each Front condo building and Serve Side, Florida collapsed, killing nine. Eight people, including children, families and friends of the victims. Gathered at the collapse site for a private vigil at one two
am to mark the time the building collapsed. Later this morning, First Lady Joe Biden is expected at a Serf Side public event along Island. Board of Trustees admits it was a wrong decision demand LGBT two Q content from the children's section of a library, including books and displays. The Smithtown Library Board of Trustees apologized and voted last night four two to reverse a previous vote initially banning the content.
Global News twenty four hours a day on airand on Bloomberg Quick Take, Power a Boy, more than hundred journalists, analysts more than a hundred, twenty countries on Michael bar This is Bloomberg, Nathan, Thank you, Michael, six thirty six on Wall Street. John Stasharris got the Bloomberg Sports Update. All right, Nathan. Make it fifteen home wins in a
row for the Yankees. That's something they haven't done in the nineteen one and fifteenth The most dramatic of all Yankees not only did not lead until the end, they did not have a hit from John Carlos Stanton's game time through and over in the first inning until Aaron hicks is game time three run homer in the bottom of the ninth oft the Astros Ryan Lee and then Aaron Judd with a walk off hit on a three oh pitch and the Yanks one in stunning fashion, beet
Houston seven to six, quite a start to the four game series between the two teams who both have big Division lead better surprise to start the NBA Draft at the Barkley Center, most felt Orlando would take Auburn Jabari Smith. They instead went with Duke's Palo Bon Carroll, first of four from Duke taking in the first round. Oklahoma City stuck with Chad holmber In the seventh footer from Gonzaga, and that left Smith for Houston all three one and
dunners in college. Knicks had the eleventh pick traded at to Oklahoma City for some future picks. The Knicks also dealt the unhappy Kemba Walker to Detroit. Nick drafted Dukes Trevor Keels in the second round. The Nets hosted the draft but didn't have any picks. Big question now does Kyrie Irving leave? Reportedly, if he does, the Knicks are one of the teams he'd liked to play for. And if kay Re leaves, is that then mean the departure of Kevin Durant. Roy mclroy shot sixty two as the
opening round lead in Hartford. Arch Manning, third generation of the first family of quarterbacks, son of Cooper, nephew of Peyton, a grandson of our gen. He decided to play college football at Texas. Everyone else in the family except Peyton went to old miss who painted Manning's name in the end zone at a game last season. Didn't work, John spares that were Bloomberg Sports David, all right, John, thank
you sixty seven on Wall Street. Time to take a look at stock some of the names moving in the pre market with Texas own Crety Goopa bloom for grading on TV markets corresponded, what's this, creaty. We're not starting a pre market update with Tesla, No, but we're getting pretty close. We might as well actually talk about Twitter here. Twitter shares are jumping. They were jumping as much as three point four percent on the pre market now pairing some of those games was still higher, about just shy
of two percent. This morning is coming after Twitter look agreed to give Elon Musk more real time data this week that according to business insiders, So it looks like this is going to be a stock to watch. But since you mentioned it, might as well check on Tesla as well, I mean the just for you. Of course, there is that inverse dynamic between Twitter and Tesla, and Twitter shares go up, Tesla shares go down, the idea of being what might Elon Musk kind split attention mean
for Tesla shares. Nevertheless, Tesla shares are actually up about one percent in the pre market, so it looks like that hasn't that news hasn't quite hit those shares yet. And along with Tesla, remember it is considered a big tech name, Apple shares are up as well, and you can see that all cross the big tech players A p L as your taker also up one per cent.
So once again, right off the bat, it kind of right off the bat, seems like there might be some good news when it comes to a little bit of a rally today, at least based on what the big tech players are doing. But don't forget about the oil players as well, because this is going to be really interesting. Nathan, we were just talking about a take out bid for Twitter.
Let's talk about a takeout bid for Occidental at least a potential one oh x Y is your taker here, this, of course is the oil company about two percent this morning. This is after an Occidental analyst she's a possible quote ideal buffet takeout bit saying that of course, britsure Hathaway is upping at steak in its oil producer Accidental by nine point six million shares just about, and it could lead the way to a potential takeover. So that speculation
driving the shares this morning, Natan two points creating. Well, we're also watching FedEx. Of course, they came out pretty strong with earnings. They came out pretty strong with earnings, and remember FedEx is that major bell weather as well, so you can't actually look at the economy without looking at the likes of FedEx or ups the idea that
it could be a proxy for that shipping story. Not only did they have some pretty strong learnings, they also lifted their forecast, which is interesting at a time when a lot of companies are cutting back or keeping their guidance about flat. Nevertheless, f d X as your taker, up about three percent in the pre market, and this is going to be significant as we look at decelerating corporate earnings, as we look at decelerating growth in the broader economy, and of course what those banks tell you
as well. And of course, speaking of banks, very quickly, Nathan, take a look at JP Morgan here. JP Morgan shares up at four tenths of one percent means that as a proxy for all banks that have accord allegedly passed their stress tests from the FED. So good news for the financial sector. Thanks as always, Bloomberg Radio and TV
Markets correspondent Pretty Gupta. As we look ahead to a solid open on Wall Street, actually with futures moving higher right now, SMP futures up thirty points, STOUT future is up two or thirteen, and Nasdaq futures higher by one sixteen points. That's again of one percent. On the tech heavy futures contracts. The tenure Treasury is down four thirty seconds for a yield of three point one zero percent.
This is Bloomberg Bloomberg eleven three oh Weather partly sunny, low eighties to wrap up the week will be in the upper eighties to around ninety through the weekend. Currently sixty three degrees and cloudy in Central Park. Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, at the Bloomberg Business apt and at Bloomberg Quick Take. This is a Bloomberg Business Flash and I'm
Karin Moscow, and futures are moving higher this morning. We got to the first word breaking news dash for today's more Ninkle and here's Tantiana Darry Tatiana, good morning, Good morning, Karen.
Futures are in the green today, like you mentioned, a led by technology stocks that aw features up the hundred points, s and PS up thirty, and nas jack up one sixteen cross As said, the Treasury's rally takes a breather, with the tenure yield up just a basis point to three point one percent, Oil is up a percent, and
the dollar resumed declines. On the economic front today, the final reading of humage, consumer sentiment and new home sales at ten among FED speakers sent ly, FED President Bullard and San Francisco Fetchi Daily are due to speak in early trading this morning. Software maker zen Desk up a fifty percent after report it's close to a deal to be acquired. Regarding earnings, FedEx is higher after results last night, and lending Tree indicates lower aftercard cutting its forecast and
other news. Keep an iron Bank stocks after the FED said all lenders have passed their annual stress test and wrapping things up here about slam was ray its new outperform at ever Corps, and Baxter was downgraded at Wells Fargo. Live from the First and Breaking News desk. I'm Tatiana Daria Karen. All right, Tatiana, thank you, and to hear lie breaking news over here at Bloomberg. Type squawk on your terminal, s q U, A w K and s A Bloomberg Business Flash. Now here's Michael Barrow with more
on what's going on around the world. Michael Karen, thank you very much. The Senate vote of thirty three to approve bipartisan gun safety legislation. The vote came the same day at the Supreme Court struck down in New York law that required people to show a special need to carry a handgun in public. The head of the United Nations has warned the world faces catastrophe because of the
growing shortage of food around the globe. U N Secretary General Antonio Guterres says the war in Ukraine has fueled and unprecedented global hunger crisis, already affecting hundreds of millions of people. In baseball, the Yankees one along with the Orioles, the Giants, and A's Lost Global News twenty four hours a day on air and Don Bloomberg Quicktach powered by more than twenty seven hundred journalists and analysts are more
than a hundred twenty countries. I'm Michael Barren. This is Bloomberg, Karen alright, Michael Barr, thank you. It is six forty nine on Wall Street. We turned to news and science and technology now. But the Bloomberg n j I T. Stammer Report, RONZI U buy New Jersey Institute of Technology rank to top fifty national public university by US News and World Report and at top ten for best career placement among public schools by the Princeton Review. More at n j I T dot A d U and here's
just making news. In science, Technology, Engineering, and math, a new study says that COVID vaccine saved an estimated twenty million lives in the first year of their rollout. According to data published in the Lancet Infectious Disease Journal, more than half of the lives saved were in wealthier countries. Researchers say about one in five lives lost due to COVID in poorer countries could have been saved if World
Health Organization targets had been met. Scientists have discovered the world's largest bacterium and a ribbian mangrove swamp Most bacteria are microscopic, but this one is so big it can be seen with the naked eye. Scientists have not yet been able to grow it in lab culture about the researchers say the cell has a structure, and that's unusual for bacteria. The findings were announced in the journal Science.
And hackers have stolen a hundred million dollars in an attack on a cryptocurrency bridge and app that lets people swamp coins between blockchains. Harmony says is working with national authorities and forensic specialists who identify the hackers and retrieve the money. Crypto bridges are seen as being particularly vulnerable to hacks, and as the Bloomberg and j I t
Stem report. Nathan Okay, Karen, thank you. We are live from the Bloomberg Interactive Brokers studios where it's almost six fifty one on Wall Street Time now to check what's going on in d C. Some of the top stories in our nation's capital include the Senate passing bipartisan gun safety legislation by a wide margin, former President Trump's election fraud pursued put on display January sixth hearings, and President Biden heading to the G seven as allies fret over
his troubles at home. Bloomberg Government reporter Emily Wilkins is here now with more on all these stories. Emily, the first major gun safety legislation in decades is now headed to the House. It is, and we are expecting to vote later this morning or early afternoon that we'll send it to President Biden's desk. But Nathan, as you point out,
it says very weird split screen. Right now in Washington, d C. You have Congress moving this most significant new gun restrictions since the mid nineties, and literally on the other side of the street, the Supreme Court giving unprecedented UH ruling that allows people to carry guns outside of their home and kind of set some precedent for that, right, Um, and you kind of really highlights at this point exactly
how controversial gun provisions remain. Even though you did see fifteen Senate Republicans partner with Democrats on the legislation that passed the Senate last night, you expect to see a lot more Republicans opposing that legislation today and the House House leadership as opposed to it. That's a noted contrast
from the Senate, where Republican leadership was in support of it. Um. There are also some serious concerns about what the political future will mean for Republicans who do support this bill. We already saw one Republican, Chris Jacobs. He represents Buffalo. Obviously they had a tragic mass shooting the other month. He came out in support of a ban on assault weapons, and then a week later he announced that he wouldn't be seeking re election after losing a lot of internal
party support. So a lot happening with the gun debate right now, um, and just kind of showing how even though progress is being made in Congress as far as gun control is concerned, there's still a lot of this debate left to go. It's interesting, as we heard from Terry Haynes earlier this hour, he doesn't really see much of a contrast between what Congress is doing and what the Supreme Court did in terms of actually restricting guns themselves.
We don't have that in this legislation. No, we don't, And I mean there is a lot of measures that they don't go nearly as far as Biden and Democrats wanted them to go take. They wanted universal background checks. That's something Democrats are always talking about always talking to high levels of support among Americans for those there are expanded background checks, but only for those who are under
twenty one. Uh. Same thing with those red flag laws that are meant to kept keep guns out of the hands of people who would be a danger to themselves or others. Democrats wanted a national law and stead they're going to set up a grant program that will give funding to states who want to set up a red flag program. But that's not even required because it's completely voluntary. And you've heard a Senator Chuck Schumer, you know he's
he is. Well. Speaker Nancy Pelosi has said that this bill certainly doesn't go as far as Democrats would like, but Schumer said that they could not surrender to gridlock and that they had to try to forge a bipartisan path for to pass legislation. Now, let's turn to what we heard at the latest January six hearings. Pressure on
the Justice Department and pardons sought by members of Congress. Yes, you had a number of members of Congress yesterday who, it was revealed, saught some sort of pardon either for themselves or others. Uh. Congressman Macgates, Scott Perry, Andy Biggs, Louis Gohmert, and Moe Brooks certainly some of them. You've you've heard these names before, Uh, they've been subpoenaed by
the committee. Did not wind up showing up. And you also really saw the committee hone in on exactly how much pressure Trump put on his Justice Department into falsely saying that the election was stolen. We heard from Jeffrey Rosen, who was the acting Attorney General in January of one, and he testified that the Trump administration had this relentless pressure campaign to get him to overturn the election that included bringing up conspiracy theories about Italian satellites. He called
that pure insanity. Um. And you had the Deputy Attorney General saying that Trump told him in December seven, call to quote, just say it was corrupt and leave the
rest up to me and the Republican congressman um. And it really, I think kind of shows Nathan plays towards the Committee's overall thesis that Trump really did use whatever avenues he could in attempting to overturn the election and trying to push a theory that he had been told by his advisors wasn't viable to try to get an alternative set of electors to to claim that he had won key battleground states that voted for Biden. Got about
a minute left here, Emily. President Biden is headed on an overseas trip over the next few days in a much different political position than he was the last time he left the country. He's got back to back trips for the G seven and then to Spain for a NATO meeting, and it really is a very different spot than Biden was in at this point last year. Um So you'll remember his his his ratings were high. Americans thought he was doing a great job, a country seemed
to be on the right track. And then from there there have been a number of setbacks and Biden's approval rating at this point and some polls show it dipping below.
And some of the concerns that we've Bloomberg has reported in a story that's on the terminal is that some officials, German officials, according to the story, are worried that after November, if Republicans were to win the House to win the Senate, it might um impede on the Biden administration and its ability to really be a leader Among European Union countries
and other allies in putting pressure on Moscow. Now, of course, the president does have a lot of power when it comes to how they interact with foreign policy and foreign nations, and certainly Republicans are also concerned about the ongoing war in Ukraine. Uh So, I think there's a just kind of a big question mark of exactly what the Biden administration would look like in terms of foreign policy if
Republicans controlled one or both branches of Congress. Interesting to hear how US allies are focused on domestic politics as much as many of us inside the Beltway are. Bloomberg Government reporter Emily Wilkins, as always, thanks for keeping us up to date on what's happening inside the Beltway, and you can read more about these stories on Bloomberg dot com or on the Bloomberg terminal. And a reminder that you can follow all the latest on Bloomberg Radio in Washington.
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