Bloomberg Daybreak: May 25, 2022 - Hour 2 (Radio)

been an arrest in a deadly subway shooting. Plus the second ship in the Baby formula and overseas arrives in the US today. I'm Michael blar more a half. I was got Sevomburg, the Rangers even up their playoff series, the Yankees staff there losing shriek, and the Mets losing wild Water out West. I'll have that more coming up

in sports. That's all s training head on Bloomberg Daybreak on Bloomberg eleven three on New York, Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, Bloomberg nine sixty, San Francisco, Sirius XAM one nineteen and around the world Old on Bloomberg Radio dot Com and via the Bloomberg Business app and good morning. I'm Karen Moscow and I'm John Tucker Bloomberg Day Gregg being drunt you by B

and Y Melon. Persian's Inside Conference back in person June fifteenth through the seventeenth at the Gaylord Resort in Grapevine, Texas. Don't miss it. Runches are now at the inside dot B and y Melon dot com, and US futures are a little change this morning. Ten year Treasury also little changed, up one thirty second yell two point seven four percent yield on the two year two point five one percent. Nine X screwed oil is at one and a half percent of a dollar sixty nine and a hundred eleven

dollars forty six cents in barrel. And look at a bitcoin this morning. It's higher a more than one percent, at twenty nine eight hundred dollars. John and Karen will have more on the markets in a minute. First, the latest on the deadly shooting at the US grade school, the deadliest shooting at a US grade school since Sandy Hook Elementary in Connecticut. At least nineteen children at two adults were killed by an eighteen year old gunman at

a Texas elementary school. The shooting is drawn emotional and angry reaction from President Biden. Bloomberg's at Baxter has more Biden tapping into the anguish to lose a child, It was like having a soul rot and pivoting quickly to gun control. As a nation. We have to ask when in God's name we're going to stand up to the gun Mommy and answers when we passed his saw weapons pan,

mass shootings went down. When the law expired, mass shootings triple, the President saying it's time for Congress to move back in San Francisco, I'm at Baxter Bloomberg day break. All right, thanks said, And in the interest of transparency, we should know Blankael Bloomberg, founder majority owner of Bloomberg Elpy, the parent of Bloomberg Radio, is a donor to groups that support gun control. Well. The Texas shooting took place just ten days after a gun and opened fire at a

Buffalo supermarket in a racist attack. Anger overflowed among Amerry agains who have long demanded legislation to prevent gun violence. Bloomberg Politics contributor Genie she haan Zano discussed the issue with Bloomberg Joe Matthew, It's never too early to start talking solutions because this is not again an isolated incident. This change of politics good backfire, It can backfire, but you know what that should be nobody's concern, and particularly

this presidents. This is going on and on. It has to be addressed. The problem is can you move anything like this through the US Congress today? And sadly the answer is no. Bloomberg Politics contributor Genie she hans Zano speaking with Joe Matthew on Bloomberg Sound On. Catch the program weekdays at five pm Eastern on Bloomberg. Right you, And another major story we're following this morning, the key

primary races across the country. We begin to Georgia, where Candida is backed by President Donald Trump, had both won and lost. Amy Morris has details from our Bloomberg newsroom in Washington. Georgia Governor Brian Kemp and Secretary of State Brad Ravensburger, both targets of former President Donald Trump, both

won their primaries. Camp beat David Purdue with seventy three point seven percent of the vote, and we'll face off against Democrats Stacy Abrams, who ran unopposed Ravensburger beat Jodie his with fifty two point two percent of the vote. Former football great Herschel Walker, who was also backed by Trump, won the GOP Senate primary with sixty eight point three percent of the vote, and he'll face Democrat incumbent Raphael Warnock, who won with nearly nineties six percent of the vote.

Marjorie Taylor Green one her GOP House primary with sixty nine point five percent of the vote in Washington. I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you. We continue our team coverage of those primary races now, but they'll get some other results and Bloomberg's rned A Young joins US Live with Moore. Good morning, Nita, Karen, Good morning. The Republican Senate primary heads into a runoff in Alabama

with Katie Britt and US Representative Moe Brooks. Britt garnered percent of the vote to twenty nine percent for Brooks. Former White House Press Secretary Sarah Sanders wins the GOP nomination for governor in Arkansas with three of the vote, and Texas Attorney General Ken Paxton wins the GOP nomination for re election with nearly sixty eight percent of the vote. He was up against a member of the Bush political dynasty, beating George P. Bush in the contest. Paxton is still

under indictment for securities fraud and an FBI investigation. Live in New York, I'm gonna need a young Bloomberg day break, and turning to the markets. US futures right now, they are higher following a late day roundy on Wall Street which saw the down Jones industrial average, clothes higher in the s and P five hundred pair losses. FED policy continues to dominate market moves, and today we're gonna get more clues on how high interest rates may go and

how fast. The FED releases minutes from its policy meeting at two pm Wall Street time. Bloomberg's Michael McKee has details, and unusually open FED has all that promised to consecutive half percentage point RADI increases in June and July. What they haven't publicly agreed on is what howapens after that.

That's why investors and endlysts will be parsing the minutes of their main meeting for clues to how far FED officials think they need to go and how quickly something else to look for move away from discussing the concept of a neutral rate target in favor of following financial conditions, which have tightened significantly the past two months. If that continues, they may not have to raise rates as much. Michael McKee,

Bloomberg Daybreak, All right, Michael, thank you. Highly anticipated Twitter shareholder meeting also takes place today, and we get a preview from Bloomberg's Tom Busby. Well, you can expect a tumultuous meeting today, and it's all about money. Forty four billion dollars. Twitter's board says Elon Musk's forty four billion dollar agreement to buy the site is a done deal. There's no negotiating on the sale price, and it's urging

its shareholders to approve the deal. But Musk is balking, saying he'll only move forward if the company is transparent about all the fake bots and spam accounts on the platform. Many think that Musk either as cold feet about agreement or is merely angling for a sharply lower price. Tom Busby, Bloomberg Daybreak, All right, Tom, thank you, And right now, futures are high er s ANDP futures up about six

points down. Future is up sixteen. Nastack Future is up twenty four trying to hand your latest local headlines plus a check of sports. And this is Bloomberg. All right, thanks, Karen six said on Wall Streets. Time to bring in Michael Barr to find out what else is going on in New York and around the world. John, thank you very much. Sarah Man, suspected of abruptly pulling a gun and killing a stranger on a New York City subway train, has been arrested. Police say they don't yet know what

motivated the apparently unprovoked attack. Andrew Abdulla was taken into custody hours after the thirties posted his name and photo on social media and implored the public to help find a New York Mayor Eric Adams, the fact is he is the posted child of many people who leave they can create violence without any repercussion at all. Mayor Adams says the year old is expected to face a murder

charge in the death of forty eight year old Daniel Enriquez. Earlier, Mayor Adams commented on a report from the National Oceanic and Atmospheric Administration NOAH released their predictions for the Atlantic hurricane season outlook predicting an above normal storm season for a seventh year in a row and up to six major hurricanes impacting the country. Adams says it is essential for New Yorkers to understand their risks and evacuation plans

before these kinds of weather events struk. Coastal storms, hurricanes, and floods. UH preparation is everything, and today this announcement is allowing all of our agencies and New Yorkers to be prepared. Mayor Adams reflected on Hurricane Ida, which killed more than a dozen New Yorkers last fall. With flash floods. Representative Antonio del Ghana will be sworn in as New York's Lieutenant govern Their Governor Kathy Hokel will swear in

Delgado today. Senate Majority Leader Chuck Schumer wants the opportunity to debate domestic terrorism on the floor of the Senate. It's a simple question, should the Senate consider a bill to crack down on domestic terrorism and extremism? Yes? Or no. We need to take the first step to fight domestic terrorism. We'll see where everyone falls. Senator Schumer of New York

also called against voter suppression. First Lady Jill Biden and Surgeon General Doctor Vivic Murphy will greet the arrival of the second shipment of Baby Formula through Operation Fly Formula FedEx Plaine, traveling from Germany. Pact with Formula lands today at Dullest Airport outside of Washington. South Korea says it appears North Korea has test launched an intercontinental ballistic missile. The South says the North also tested to other missiles.

Global News twenty four hours a day on air and on Bloomberg Quicksake, powered by more than twenty seven hundred journalists and analysts, more than a dwy Ton three. I'm Michael Barr. This is Bloomberg, John, Michael, Thank you. Andy is now six ten on wool Street. Time for the Bloomberg Sports Update. Good morning, Scott Sideberg, Good morning John. The Rangers beat the Hurricanes FLO one to even up

their playoff series at two games a piece. Frank for trying to open up the scoring on the power play. Adam Fox because advantage. Ad and Andrew Copp also scored, while Igor Shusturkin made thirty saves. Here was Gerard Glant competed? Heard the first payer was probably the best payerd of hockey I seen this year from Bowl team, not just us. It was death, back and forth. It was I thought it could have been four tu per I thought less

after the first player of goals. Withstanding elsewhere, the Oilers took a three one series lead over the Flames with a five three win. NBA Playoffs last night, the Mavericks avoid elimination, beating the Warriors one nineteen one On nine. Tonight, Eastern Conference Finals Game five, the Heat and Celtics tied

at two games apiece. Jose Trevino, with a big name for the Yankees the solo We're in the third, a game time single in the seventh, and the walk off winner in the bottom of the eleventh, as the Yankee snapped their season high three game losing streak, beating the Orioles seven six. The Medicine Giants playing a back and forth game last night in San Francisco, the Mets scoring ten runs in the seventh, eighth, and ninth innings combined.

They erase a six run Deafens hit, but would lose in the bottom of the ninth and when Daz allowing four hits, including the walkoff single to Brandon Crawford twelve, the final tennis at the French Open, Joe Wilfred Sanga's career comes to an end. He loses in the first round and retires at the age of thirty seven with eighteen career titles. Elsewhere, Americans Madison Keys and Jessica Pegoula advanced on the women's side. I'm Scott Seedinberg with Bloomberg Sports.

John all right, thanks Scott, and ahead of the Casha Open on Wall Street, we have down futures right now twenty four points higher, SMP futures they are up seven points and the nights day futures thirty points higher, and we have the tenure yield the benchmark at to seventy five unchanged. This is Bloomberg Day Break, and just ahead we'll speak with Gregg Valier, the chief policy strategist at a GF. We'll take a deeper dive into the mass

shooting in Texas and the results. All the primaries, markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktake. This is a Bloomberg Business Lash and I'm Karen Moscow and futures are little change. This morning, nasdack futures are higher, up about twelve points, and the decks in Germany is up about a quarter percent. The tend your treasury that'll change you'll two point seven and the yield on the

two year two point five. It is six seventeen on Walla Street. Time for your daily Bloomberg Crypto update. It is brought to you by Interactor Brokers. It charges margin loan race from one point three three percent to two point three three percent. Right something to change. Learn more at ibker dot com. Slash compare now with the Legician. Crypto News shares Bloomberry Shrandy to young Randy Karen. Right now,

Bitcoin is trading close to thirty thousand. It's been hovering around this level ever since the terror USD stable coin collapse trigger to sell off in cryptocurrencies, so it's a good time to check in on the first country to declare bitcoin as legal tender, El Salvador, is currently down about thirty five percent. That's nearly forty million dollars on the two thousand, three hundred and one bitcoin. It's president bought with public funds since making it legal tender last year.

The nation's finance minister says Bitcoin's recent price dip has even scared away potential buyers of a planned one billion dollar bitcoin backed bond, but none of this has stopped the crypto touting President. He bought another five hundred coins just last month. You know who else. It hasn't stopped us Miami mayor Francis Suarez, who says, hey, I'll still take my city salary in bitcoin, thank you very much, even after a route that sent the crypto down almost

over the past two months. Suarez wants to promote Miami as a crypto and tech center, and he made the comments to a panel at the World Economic Forum in Davos, Switzerland. Metro Bloomberg Crypto Update Live in New York. I'm reneed a young Bloomberg Daybreak. Karen, all right, we need to thank you, and that's a Bloomberg business flash. Now here's

Michael Barr with Moore. I'm what's going on around the world, Michael Karen, An eighteen year old gunman opened fire at a Uvaldi, Texas elementary school, killing at least nineteen children and two adults before he was killed by law enforcement. Later, a visibly angry President Biden addressed the nation renewing his call for the reform of gun laws. When we passed a sault weapons pan, my shootings went down when the

law expired, my shooting triple. Georgia Governor Brian Kemp has easily beat Donald Trump's hand pick challenger in a Republican primary, former Senator David Purdue. Kemp guy seventy eight percent, Perdue received twenty two percent. In the NHL playoffs, the Rangers beat the Hurricanes. Baseball, the Yankees beat the Orioles. The Mets lost to the Giants. The Red Sox and the A's one. The Nationals lost in the NBA playoffs. The

Mavericks stay alive as they beat the Warriors. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more band journalists and analysts more than a hundred twenty countries. Michael Barr, This is Bloomberg, John, Michael, thank you very much. Is six twenty on Wall Street. We are live from the Bloomberg Interact of Broker Studios. This is Bloomberg Daybreak. Families in Texas will spend this holiday weekend bearing their children, nineteen of them and two

of their teachers. In response you heard President Biden asking when are we going to stand up to the gun lobby. Let's take a deeper dive into the shooting this warning and will also examine the latest primary results. Joining us now, Gregg Valley, or chief US policy strategist at a GF Investment, I wish you could be under better circums dances, Greg, As far as I can tell, there have been no electoral consequences for opposition to even modest restrictions on civilian weapons. Um,

what's next? Well, I don't see a lot. John. I wish I could tell you this morning that there will be some background checks, there will be some beginning of gun regulation. But I gotta tell you I don't see it. You need sixty votes to get anything done in the Senate, and I don't think sixty votes are there. This is such an incredibly depressing story to have all of these horrible incidents. We've had over three thousand mass murders since UH,

since the school shootings in Connecticut. So I I think that this, unfortunately, is not going to lead to any reforms. Nothing happened after Sandy Hook substantial. Not only that, but the far right UH had conspiracy theories following the murders that occurred there just just absolutely bizarre. John, and I think that there was a real eye opener for everybody that you're not going to be able to get much done. The great irony here, in my opinion, is that of

the American public wants some gun control. They don't want to take people's guns away. That that was obviously a lie about Hillary Clinton, but people do want to see some reforms when you get over in this country favoring anything, that's a pretty powerful number. Could this impact the November election outlook at all? It could, John, And you've got two real wild cards. One is Roe v. Wade, and we'll get a ruling on that probably in the next

couple of months. And now you have this. If we no reform, which is probably the likely scenario, I do think there could be a backlash against politicians who refused to do anything at all. So it it could. I think it's a stretch to say that it could mean this the household stay uh democratic. I still think the Republicans will take the House and the Senate, though I think is becoming closer because of abortion and because of guns, and after this tragedy, Um, after the mass shooting that

we saw in Buffalo. It's the National Rifle Association conference. It's uh what this Friday? Yeah, this Friday that Ted Cruz will be there. Trump and you know a lot of pro gun politicians that the n r A is

running scared. There are groups that are more conservative that there are further to the right of the n r A. So I think the n r A is trying to increase its visibility and you're gonna get the same old sound bites that it's an effort by the Democrats to exploit gun violence to take away people's guns, and nothing is further from the truth. Um, you write in your note this warning, this issue isn't just about the mass murders. Could you expand on that? I'm sorry I missed the words.

This's what you write in your note that this morning, this issue isn't just about mass murders. Did you expand on that? Yeah, I I think it's it's also the gun violence we've seen in so many cities Chicago, Washington, Atlanta, several other cities where we've had unprecedented gun violence, and I think that's part of this entire narrative as well as something the Republicans will throw back at the Democrats.

You do have to ask the question, is there any politician in America who's willing to take on this issue. I think Steve Kerr, the coach of the Golden State Warriors, is willing to take it on, but he's not a politician. There is one pelegician who I think could be intriguing, and that's the mayor of New York City. Yeah. And you know you mentioned New York City, and you got to bring the Supreme Court into the fold because they could be ruling on local jurisdictions, including New York City's

own gun control measures. The restrictions that we have here in the city need to notice. Start your day brought to you by Interactive Broker's Global Analyst. It helps you find new global investment opportunities, to diversify your portfolio and discover undervalued companies that may have greater growth potential. Try ibk our Global Analysts today at ibk R dot com slash g A. First, we begin in Texas, where at least nineteen children and two adults were killed by an

eighteen year old gunman at rob Elementary School. President Biden undrest the nation last night, expressing condolences and quickly pivoting to gun legislation, where in God's name is our backbone, to the courage to do with the stand up to the lobbies, took time to turn this pain the action. President Biden, addressing the nation after the elementary school shooting

in Yuvalde, Texas. We should note Michael Bloomberg, the founder and majority owner of Bloomberg LP, the parent of Bloomberg Radio, is a donor to groups that support gun control, including Every Town for Gun Safety. And down to the other major story we're following this morning, the key primary raises across the country. In Georgia, to candidates backed by Donald Trump have lost another one. Bloomberg's really be Young joins us live with to tales Ranita, Good morning, Good morning John.

Georgia Governor Brian Kemp and Secretary of State Brad Ruffensburger, both targets of former President Trump, both won their primaries. Kemp beat David produced seventy three point seven percent of the vote. He'll face Democrats Stacy Abrams, who ran unopposed. Raffensburger beat Jodie heis with fifty two point two percent of the vote. Former football great Herschel Walker, also backed by Trump, won the GOLP Senate primary with sixty three

percent of the vote. He'll face Democrat and commit Raphael Warnock, who secured nearly nine six percent of the vote, and Marjorie Taylor Green one herd go OP House primary with sixty nine point five percent of the vote. Live in New York, I'm gonna need a Young Bloomberg day break, all right, Renn need to thank you. Elsewhere, the Alabama Republican Senate primary has into a run off with Katie Britt and US Representative Moe Brooks. Britt garnercent of the

vote to Brooks percent. Former White House Press Secretary Sarah Sanders won the GOP nomination for governor and Arkansaw with eight three percent of the vote. And Texas Attorney General Ken patched and took the GOP nomination for re election with nearly sixty percent of the vote against George P. Bush. And coming up today, we get minutes from the fans latest meeting that is coming up at two pm Wall Street time. And that's the five things you need to

notice start your day. Brought to you by Interactive Brokers and again Futures this morning, little change Nowsdack futures are higher, up about fourteen points right now. The decks in Germany is up about a third of a percent. Ten. Your treasury up one thirty second yell two point seven four percent. They yield on the two year two point five one percent. Nine X Screwed oil is higher, up one point four percent of a dollar fifty eight at a hundred eleven

dollars thirty four cents of barrel comics. Gold is down seven tenths percent, or thirteen dollars twenty cents at eighteen fifty eight twenty announced. The euro one point oh six six six against the dollar. Bitcoin this morning is up one percent at twenty nine thousand, seven hundred dollars. Straight ahead your latest local headlines plus a check of sports. This is Bloomberg Pari. Thanks Karen sixty three on Wall Street.

Ant time to bring in Michael barn to tell us what else is going on in New York hand around the world. John, Thank you very much, sir. The n y p D says there is an arrest from Sunday's fatal, unprovoked subway shooting that left one man dead. Authorities say year old Andrew Abdullah Brooklyn turned himself into police. Della has more than twenty prior arrests on his record, including an outstanding weapons charge from last year and previous charges

of assault, robbery, menacing, and grand larcening. New York Mayor Eric Adams says Abdullah is the poster child to show just how easy it is for someone dangerous to get ahold of a weapon in New York City. History of this person, any reasonable thinking New Yorkers is going to ask themselves, why is this person still on our streets. Mayor Adams says the city will work to improve the subway safety. More infant formula is arriving from overseas today

to ease the u S shortage. Nearly a million, eight ounce bottles worth of ness Lee's Gerber Baby formula arrives at Dulless Airport. First Lady Jill Biden will greet the plane's arrival. The federal government is being criticized by how it has handled the shortage of formula. Health and Human Services Secretary how the Vicera says the FDA's authority is limited. If they're not policing themselves, then we have to do more to make sure we are doing the right thing

for parents. We need that supply Secretary of Sarah as the formula. Shipment then heads to a Pennsylvania distribution center. One case of monkey pox has been ruled out in New York City Health Commissioner Dr Schwan Vassans said, the other is still pending confirmation. We had two suspected cases

of monkey pox. One was ruled out, was negative. One tested positive for the class of viruses to which monkey fox belongs, and we're waiting on confirmation from the CDC, which we hope to get in the next day or two. Dr Vassan says the World Health Organization is identified about any cases of monkey pox around the world. South Korea says North Korea test launched a series of ballistic missiles this morning, including the bresumed intercontinental Ballistic missile and at

least one short range missile. South Korea says that it is in violation of U N Security Council resolutions and a serious provocation that threatens peace on the Korean Banna Sala and the international community. Global News twenty four hours a day on airrand on Bloomberg quick Take, powered by more than seven hundred journalists and analysts more than a hundred twenty countries. Michael Barr, this is Bloomberg, John, Michael, thank you. Six thirties five hod Wall Street. Time down

to the Bloomberg Sports Update. Here's Scott Suttenberg. Thanks John. The Rangers defending home ice, beating the Hurricanes for one to even up their series at two games of peace. Frank Petrano, mika's de Bennejad, Adam Fox, and Andrew copp all scored. Igor Shasturkin made thirty saves as the home team has won each of the first four games of this series. Here's Gerard Glant. I mean, really, look at the four games. It's not just a two at home, but the four games have been pretty much one goal

game most of the way through it. And you know, we're two teams that are closed in battle, and you know, I just think it's been outstanding hontey by both teams. Elsewhere, the Oilers take a three one series lead over the flame S thanks to a five three win baseball. Jose Trevino with a big night for the Yankees, solo homer in the third, a game time single in the seventh, and the walkoff winner in the bottom of the eleventh, as the Yankees beat the Orioles seven six, snapping their

season high three game losing streak. The Mets meanwhile played a wild game in San Francisco, rallying from eight to down, the Mets scoring ten runs in the seventh, eighth, and ninth combined, but they would fall in the bottom of the ninth as Edwin Diaz allowed four hits, including the

walkoff single to Brandon Crawford. Twelve your final NBA playoffs, the Mavericks avoid the sweet beating the Warriors one nineteen one oh nine, and tonight Eastern Conference Finals Game five from Miami, the Heat and Celtics tied at two games apiece. UM Scott Seginburg with Bloomberg Sports, John all Right, thanks a lot to Scott, six thirty seven on Wall Street. Time to take a look at stocks, some of the names that are moving at the pre market. For that,

we're joined by bloom a Radio on TV. Markets corresponded Critty Group, to you ever have one of their what do they called the Frosty the milkshake from Wendy's. Yeah, you turn you could turn it over and nothing comes out because it's so I have had a Frosty I think in like the third grade, and I haven't had it since then? Should I? Why are they in the news this morning? Wendy's are Frosty's w e and is your taker here? Folks? Twelve percent gains almost all percent

gains in the pre market. This comes after shareholder Try and Fund Management. This is the investment vehicle of the billionaire Nelson Pelts, whose daughter, by the way, just got married to Brooklyn Beckham. That's also your little gossip from the morning. Uh, Nicole Pelts. There you go, Nicole, if

you're listening, Yeah, maybe they are. Try and Fund Management has about an eleven point eight percent share of Wendy stock right now, and they said they're exploring a transact that could give it control of the fast food chain, and investors seeming to like that story up about twelve w e N So we've got a little bit of

an activist stock story this morning. John, When else is going, I'm looking at the screen here, but you tell me, well, I think we have to stick with the retailer's theme that seems to be the big one here because the yeah, this idea that there's so much inflation that you can't actually perhaps pass on as many costs of the consumers, and that seems to be the story coming out of Walmart at a target um. But then you have the

series of kind of positive news. We had best By of course out yesterday, some good news there, but we also had Nordstrom out yesterday. J w N is your ticker. Shares are hired by about ten and pre market trading after a raise its revenue forecast after the bell yesterday, Analysts highlighting the department stores operators exposure to higher end customers. Think about this, if you are a retailer and you are trying to target customers that are really concerned about inflation,

what economic classes? So you're telling me Nordstrom appeals to people who have money pretty much, and I would in a Nordstrom. Okay, well we gotta get you in there. There's a great flagship store, straight but I've never seen anybody in it though. That's the conversation, but that it is the point is they are geared towards higher end because customers who are, for lack of better from a

little bit more insulated to whether those inflationary costs. Nevertheless, g w N is your taker up ten percent and It's not just them Urban outfitters up on sympathy as well. You are b n as your taker that stock of four percent, And I don't know if you're an urban outfitters shopper. John, My daughter took me to you. Ready, this is not a publicly traded company. Goodwill some sort of fashion trend to buy used clothing. This is true. You need to like the bill on THIAGA News sneaker distressed.

Yeah whatever, I got some great rags for painting. Bloomberg Market for the TV Markets correspondent Cretty goopta uh right now, I head of the cash open on Wall Street to all Future is now thirty two points. Don't judge me. SMP five hundred futures unchanged, NASAC futures up seventeen. You're listening to Bloomberg Daybreak and the Bloomberg Weather for media rama. Just Rod Caroline makes of sun and clouds. The hind temperature seventy to seventy five degrees today tonight, partly to

mostly cloudy. The low temperature in the mid fifties. Markets headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business apt and at Bloomberg Quick Tape. This is a Bloomberg Business flash and I'm Karen. Moscow and US dock index futures are a little change this morning, even bouncing around a bit. We go to the first we're a breaking news to ask for today's morning call. Here's Bill Maloney. Bill, good morning, and good morning, Karen.

US features are quiet right now. Down futures down fifty seven point says if you dropped for one mastic features are still higher by a point US a ten year. The two point seven five percent gold is down, oil is climbing, and bitcoin is trading higher by one percent.

Shanghai rose one percent overnight, while up markets are also in the green this morning and back in the US on the economic front, at eight thirty durable goods orders and at two o'clock minutes from the f O m C after Bellist night, into It report it's best quarter on record norths from meat on sales and boosted guidance

and told Brothers feed estimates regarding earnings. This morning, look for Dick Sporting to report in the pre market and wrapping things up, Seem Group raised to over over outperform over at Oppenheimer Live from the first to breaking news desk on Bill Maloney care all right, Bill, thank you to hear live breaking news over your Bloomberg type squawk on your termin I'll ask you a w K and that's a Bloomberg business flash. Now here's Michael Barrow with

more on let's going on around the world. Michael Karen, thank you very much of visibly angry. President Biden addressed the nation, renewing his call for the reform of gun laws. It is in response to the deadly mass shooting at a school in Uvaldi, Texas, killing nineteen children and two adults. It's time for those who have struck or delay or blocked the common sense gun laws. We need to let you know that we will not forget. We can do

so much more. We have to do more. The eighteen year old gunman in the school shooting was killed by authorities. Georgia Governor Brian Kemp has easily beat Donald Trump's handpicked challenger in a Republican primary. Former Senator David Purdue. Camp had seventy eight percent Perdue received tent. Kemp will face Democrats Stacy Abrams this fall. Republican Herschel Walker will face Democratic incumbent Senator Raphael Warnock to represent Georgia in the

November general election. Walker received sixty eight percent of the vote. NHL Playoff, the Rangers beat the Hurricanes the series outside the two games apiece. Baseball, the Yankees beat the Orioles. The Metal loss to the Giants, Red Sox in ase one. The Nationals lost NBA Playoffs. The Mavericks stay alive as they beat the Warriors. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than seven hundred journalists and analysts more than a

hundred twenty countries. Michael bar this is Bloomberg. John alright, Michael, thank you. We are live from the Bloomberg Interactive Broker Studios, where it is coming up on six fifty on Wall Street. Time to check what's going on in d C. And just a couple of stories in the nation's capital and around the country. We're focusing on this morning, President Biden demanding the US stand up to gunmakers after the Texas attack, and Georgia Governor Brian Camp Secretary of State that Brad

Rathsenberger winning their primaries yesterday. Let's take a deeper dive into these stories. This morning, we are joined by Wendy Schiller, a Brown University from Brown University's Talent Center for American Politics and Policy. Wendy, I'll just start off by asking you why have there been no real electoral consequences for opposition to even modest restrictions on weaponry in the United States for politicians? Good morning, John, I mean a lot

of it, uh is. You know, we focused the federal level, but even when government passes a gun law, for example, in domestic violence, for example, there's laws on the books for misdemeanor violations you can't have a gun, or if you're under restraining or you can't have a gun. Enforcing that that's at the state level, and states have to pass their own laws that go along with the federal governments laws, and then local law enforcement and the state

government has to do their job to enforce it. So what's happened is that we have some states to do that in many states that don't. That's just one example. So focusing on federal laws, I think, um for advocates can times be mistake because on the ground, what really prevents somebody from having a gun. It's a successful background check for one thing, and enforcement of laws on the books, so we're not we don't see that uniformly across the country.

Second it um, I think when you're thinking about this for consequences, you know, people say, oh, the n r A and a National Arms Association, that's gone. The Republican Party itself has adopted a you know, basic premise you can't restrict my access to a gun. That's just across the whole country, and even more so today than it was twenty years ago. So thinking about the lobby, um,

you know, I know that's what the President said. But in the end of the day, the Republican Party itself has adopted this premise and its base supports that premise. Is there is this an issue for Does it make a difference for the November elections the general elections? Well, I mean, I think in various tasty Republican states in Texas, for example, where people believe that law abiding citizens have guns and are responsible what the guns should not be

penalized for people who have used them. The question is do you want an eighteen year old to be able to have an assault weapon? I mean, it's not hunting rightful per se, it's an assault well weapon, and that's what people have to ask themselves in their state communities,

their local communities as much as the national community. And the answer is primarily Yet, you know, we're willing to take that risk because we think, and we've been persuaded by thirty years of rhetorics from the n right but also the Republicans, is that if you take away that weapon, it's take all my other rights to own a gun. And you know it's not just Republican states. Also in New York has a areas theoretically a liberal state and necessarily high rate of gun ownership. So this is just

pervasive now. So there are no consequences to this because people think, well, it won't happen in my community, which we're increasingly seeing is a myth. But second um, it's just been too highly um connected to my individual right to own a gun to protect myself and people are not willing to trade that for more security. Well, does it bring up more people to the general election? No,

I mean we haven't seen that happen ever. Really, we've had you know, column mine going back to the first sort of big, big high school shooting that we were in our consciousness and that no. Uh. I think other issues like abortion, for example, will be a much bigger mobilizer I think in general from November than these tragedies that have been happening. After the primary yesterday, here's the headline from the Atlanta Journal Constitution. Uh, the Trump revenge

tour derailed in Georgia. Uh. What's the takeaway from the primary yesterday? The takeaway I think is that, um, that you know, former President Trump's influence uh, you know, on a personal level is limited. Sometimes he can sway a population, like maybe in Ohio in the Senate race or Pennsylvania, but sometimes he can't, which seems to make sense to

most people who watched politics. The figure difference is that his um rhetoric about the twenty election is still alive and well uh and taking the party to the right, particularly on things like immigration and other things. Um, that's still the big fabric of the Republican Party. So his impression on the party he's shaving on the party, I think is still vibrant. He himself may not be a player anymore, but there's just people who are going to be just like him, who are coming up the rank.

So I don't think any of it would call Kemp a moderate. He's a very conservative Republican. He was before Trump and he will be after Trump. UM. But it just shows that their Pubican party itself has adopted his winning slogans, and sooner or later they're going to figure out they don't need him. Cam's gonna face uh Stacy Abrams the Democrat, and I guess it's a rematch or there.

They've done this before, back in what the what's the utcome? Well, what's the interesting dynamic and Georgia is that, unlike previous races, the Senate race has an African American incumbent Warnock against an African American Republican challenger. So that's gonna sort of be interesting to watch the African American vote. Do they actually split their vote? It's not just the same dynamic between a black candidate and a white candidate, which Jaishaw

Walker we can draw. Different candidate doesn't turn out. So Stacy Abrams is very successful in getting turnout last time,

as was Rough Warnock in a special election. The question is ken may worked their quote unquote magic not just someone black voters, but among progressives and other Democrats UM in big enough numbers because Republicans are mobilized and the out party of the White House usually turns out in much bigger numbers in the mid term than the than the in party facts Wendy appreciated Wendy Schiller Round University's

Talman Center for American Politics and Policy. You've got to read more about this on Bloomberg dot com or the Bloomberg terminal as well, and also reminder you can follow all the latest on Bloomberg Radio in Washington. That's Bloomberg at one five point seven FM h D two. Karen, all right, John, thank you, sixty five on Wall Street and we turned to news in science and technology now

with the Bloomberg and J A. T. STEM Report. It is brought to you by New Jersey Institute of Technology, one of the nation's leading polytechnic universities and a top military friendly school. Learn more at n j i T dot edu, slash veterans and now here's it's making news in science, Technology, engineering, and math. Feisser says it will provide nearly two dozen products, including its top selling co in nineteen vaccine and treatment at not for profit prices

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as the state enters the hot and dry summer. The California Water Resources Control Board passed an emergency measure that will require agencies to put in place contingency plans for up to a twenty shortage in water supplies. And well, it's not yet a recognized medical or psychological diagnosis, psychologists estimate that somewhere between five to ten percent of Americans

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