Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we will have much more on a busy week from markets and the latest developments on the war with Iran in a moment, but we begin with the very latest on the shooting over the weekend at the White House Correspondence Association dinner. Bloomberg's Alexis Christopherus kicks off our team coverage.
Alexis, the California man accused of opening fire at the White House Correspondence Association dinner, referred to himself as a friendly federal assassin in writing sent to family members just minutes before the shooting. Law enforcement officials say the writings made repeated references to President Trump without naming him directly. The President spoke on CBS's Sixty Minutes, where he weighed in on the alleged shooter's manifesto.
He's radicalized. He was a Christian believer and then he became I'm an anti Christian and he had a lot of change. He's been going through a lot. Based on what he wrote. His brother complained about him, and I think reported him to the police, and his sister likewise complained about him his family, who was very concerned. He was probably a pretty sick guy.
Acting Attorney General Todd blanche As investigators are still looking into the alleged shooter's motivation.
We believe that he traveled by train from Los Angeles to Chicago and then Chicago to Washington, d C. And we've executed search warrants on his devices as well. We've started talking to folks that know him.
Thirty one year old Cole Thomas Allen is in custody custody. He is set to be arraigned on felony charges later today in New York. Alexis Christophers Bloomberg Radio.
All Right, Alexis, thank you well. According to a law enforcement intelligence profile reviewed by Bloomberg, Cole Thomas Allen spent years quietly acquiring his arsenal Bloomberg's Laura Davis use our team coverage.
He's a thirty one year old from California. He took a train from the West Coast to Washington, d C. And was able to check into the hotel where the event was taking place a day early, and that's one of the ways he was able to avoid scrutiny and some of the security coming into the building. You know, he has allegedly written this manifesto that Bloomberg News has seen, which calls Trump a trader and also refers to himself as a potential assassin, but it's not clear exactly what his motives were.
Bloomberg's Laura Davison says Alan earned a mechanical engineering degree from cal Tech in twenty seventeen and was pursuing a master's degree in computer science at California State University, Domingez Hills as recently as last year.
Well, Karen, as you can imagine, it was a frightening time for the thousands attending the dinner. David Gura was among them, covering the event for Bloomberg this weekend and continues our team coverage.
The ballroom, which is in the basement of the Washington Hilton, was packed. It's about twenty six hundred people and we milled a bound, gathered around our tables, taken our seats, and then there were speeches. The president of the White House Correspondents Association spoke and we were digging into our salads. When in the corridor beyond the ballroom. We heard the sound of gunfire, and those of us who heard that
noticed it wondered what was happening. That was most eerie was the silence that kind of descended on the room as those doors to the corridor busted open, and we saw police and Secret Service coming in with their weapons drawn, and they made their way through the well of this
ballroom to the stage. They did that by knocking over chairs, stepping on tables, making their way onto the stage, and we saw the President, other dignitaries along with the reporters who remembers of the White House Corresponds Association Executive Board taken off of that stage, and then Secret Service with their guns drawn again pointed them at the audience as they looked to see if there was anyone with a gun in the audience as well.
And Bloomberg This Weekend host David Gera notes the White House Correspondent's Association president Wi Jajang said the board would meet quote to assess what happened and determine how to proceed.
Well, Nathan, President Trump is arguing the chaos and the Correspondence dinner shows why the White House needs a new ballroom, and the President made the case in an interview with Fox News.
Military and Secret Service have wanted it for many years, and I'm getting it built.
And the one good thing is that now everybody knows how badly needed it is.
President Trump's ballroom would be used for state dinners and other events planned by the White House if it's built. The Correspondence Dinner is organized by the White House Correspondence Association, which is an outside group. Last month, of federal judge ordered construction halted on the ballroom until President Trump gets approval from Congress. The Justice Department filed yesterday for the lawsuit to be dismissed, citing the attack on the dinner.
We're going to turn now care into the latest from the Middle East. There may be a new development. With the US Israeli war with Iran nearing the two month mark, Axios is reporting the Tehran is signaling it's willing to accept an interim deal with the US where it would reopen the strait of horror moves if the US lifts its blockade of Iranian ports. The report says Iran's told mediators in Pakistan that negotiations over its nuclear program could
be dealt with later. We get More from Bloomberg's Juwmana Barsecci in Dubai.
What Iran are putting forwards via the mediators is not an end or a solution to these peace discussions. In fact, it is just the conditions under which the negotiations with the US can continue. So you know, it's important to make that distinction. What they're saying here is in order for them to come back to the negotiating table, these are the conditions that need to be satisfied.
Bloomberg's Jamana Barsecci reporting from Dubai. Iran's foreign minister Abas Saragchi is now in Russia for a meeting with President Vladimir Putin. With the US talks now at an impasse.
Moneith and amid the showering relations between the US and the UK over the war in Iran, King Charles is visiting Washington to try to restore the relationship. Begin More from bloombergs U and Pons in London. You and good morning, Karen and Nathan.
To say the US UK special relationship is going through something of a rough patch would be a little bit of British under statement. King Charles arrives in Washington today against the backdrop of relations with the United States at a multi decade low point. President Trump has mocked prominence of kist Arma as weak and unreliable for refusing to join the initial strikes on Iran, and he's threatened to reopen the trade deal signed with the UK last year.
We do know that Donald Trump has spoken warmly about the King, calling him a fantastic man. Whether any of that royal magic helps heal the relationship between the countries, well, that remains to be seen in London. I'm you in pots Bloomberg Radio.
Okay, you and thanks.
Let's update markets now as we begin this new trading week. Right now, oil is on the rise. Brent is up more than two percent at one hundred and seven dollars eighty two cents of barrel. West Texas Center Media's hired by two percent as well, at ninety six twenty eight. Stock futures are mixed, with the Dow futures down about a tenth of a percent, but equities head into the
week at record highs. Chip stocks have gained for eighteen straight sessions, and it's another busy week for earnings, with a focus on tech, specifically the mag seven Bloomberg's Charlie Pellett.
Reports Wednesday, it's Alphabet, Microsoft, Amazon and Meta platforms. Thursday it's Apple. Amy wou Silverman is head of Derivative Strategy at RBC Capital Markets.
Just from a concentration perspective, that really has the ability to pump up the market even more. We're really watching that bid to call options, particularly in tech, because once you see that start going, it typically begets more upside momentum, not less.
Also this week earnings from Caterpillar, Chevron, General Motors, NXP Semiconductor ups and Verizon in New York. Charlie Pellett's Bloomberg Radio.
All right, Charlie, thank you. In addition to the slew of big tech earnings, investors will have a FED decision to look forward to, and we get a preview with the Bloombergs Michael McKee.
This will be one of the most widely followed FED meetings in years, not because the Central Bank is going to do anything. Rates won't change. They're not going to issue new economic forecasts or a dot plot. But it is likely to be Chairman J. Powell's last at the helm of the Policymaking Open Market Committee and his last news conference before his term as chair ends on May fifteenth. It is possible, of course, he'll stay on his chair for a bit if successor Kevin Worsh is not confirmed
by the Senate in time. Wall Street will want to know if Powell thinks that will change the rate calculus at all, as well as the thinking around the table about the impact of the Iran war and tariffs. Investors and even folks at the FED will be listing for any hints about whether Powell will remain at the FED itself. His term on the Board of Governors doesn't end until twenty twenty eight. Michael McKee, Bloomberg Radio.
All right, Mike, thanks for Kevin Walsh's path to succeed Powell's chair just got a little easier. We get that story from Bloomberg's John Tucker. John, what's the latest, right.
Nathan Will Republicans Sadator Tom Tillis dropping his blockade of Worsh's nomination to head the FED. Tillis now seems satisfied after receiving assurances from the Justice Department that they're ending a criminal probe targeting FED share Jerome Powell.
They have made it very clear that the current investigation is completely and fully ended.
Altil has appeared on the NBC's Meet the Press Heard here on Bloomberg Radio. He had called the criminal probe been attack on the central banks independence. The Senate Banking Committee has scheduled a vote on Warsha's nomination for Wednesday. I'm John Tucker, Bloomberg Radio.
All right, John, thank you. The tensions between Elon Musk and Sam Altman are front and center of this week, as Musk's case against open Ai and it's backer Microsoft hits to trial. Bloomberg's Lisa Mateo has more.
The biggest feud in tech is headed to court. Elon Musk has tried just about everything to undermine Sam Altman's leadership at OpenAI, the company they founded together more than a decade ago. Must launched a rival artificial intelligence startup, made an unsolicited and unsuccessful ninety seven billion dollar bid for the company, and his waging a legal battle.
So what's at stake?
Musk's lawsuit against open Ai is looking to unwind the company's for profit conversion and could cost open Ai big money, as well as trigger and overhaul of the chat GBT maker. Musk has also asked that Altman be removed from his roles at the company. Lisa Matteo, Bloomberg Radio Lisa Thanks.
In another big tech development, China has decided to block meta platforms two billion dollar acquisition of agentic Ai startup MANUS analysts say it's a surprise move to unwind a controversial deal that had drawn fire for the leakage of technology to the US.
Time now for look at some of the other stories making news in New York and around the world, and for that we're joined by Bloomberg's Michael Barr. Michael, good Morning, Good morning Karen.
At least two people have died from a severe tornado producing storm that hit in northern Texas, and many homes have sustained major damage. The storm came through the town of Runaway Bay over the weekend, killing one person. Weiss County Judge Ad Clark says that about twenty families are displaced as search and rescue efforts continued.
Texas weather it can devastate in an instant, and unfortunately, we've seen that here in Runaway Bay.
The storm also hit the Springtown area, where a second person died in Brooklyn Park, Minnesota. Authorities, including the FAA and the NTSB our investigating a plane crash that left two people dead, one of whom was North Dakota State lawmaker Representative Liz Conmy, near Crystal Airport over the weekend. According to early reports, the plane, a single engine beach F thirty three a, departed Crystal Airport and crashed soon after in a small park northwest of the airfield, bursting
into flames. This man lives near the Crystal Airport.
I always listened to him, you know, because it just didn't sound right. Light was cutting out, and all of a sudden thump and a crash or a crunch, you know when I go to any right now, went around the house, looked up and there was a big orange ball.
While both people on board the plane. Parish Brooklyn Park officials say no one was injured on the ground, and the airport resumed normal operations a short time later. A search and rescue effort is underway off the shores of Massachusetts after a crew member fell off a cruise ship late Saturday night. The US Coast Guards Southeastern New England sector has been searching for the crew member. Norwegian Cruise Lines say that the ship security cameras caught the fall
from one of the upper decks. Global news twenty four hours a day and whenever you want it with the Bloomberg News Now Michael Barr and this is Bloomberg Karen.
Thanks Michael.
A time now for our Bloomberg Sports update, and for that we bring in John stash.
Hour as Karin. A quartet of NBA playoff game fours, including the Celtics winning by thirty two in Philadelphia. They had an earlier winning this series by thirty one. Boston leads the series three games to one. San Antonio up three to one this first game from nineteen down to win in Portland. The Lakers lead three games that won. They lost Game four in Houston, Toronto b Cleveland. That series tied to two Stanley Cup playoffs Buffalo, Colorado and Tampa Bay, all one on the road. The Abs won
their series of a sweep. Anaheim won in overtime with Edmonton. That's a Bloomberg Sports update.
Stay with us. More from Bloomberg Day Break coming up after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com and The Bloomberg Business app This is Bloomberg Daybreak and now.
We have more on our top story this morning. The suspect of the White House Correspondence dinner shooting is due in court today. He has been identified as thirty one year old Cole Thomas Allen. Police a open fire at the Washington Hilton where more than twenty five hundred people gathered Saturday night, and David Gura was covering the event for Bloomberg.
The ballroom, which is in the basement of the Washington Hilton, was packed it. It's about twenty six hundred people and we milled a back, gathered around our tables, taking our seats, and then there were speeches. The president of the White House Correspondents Association spoke, and we were digging into our salads when in the corridor beyond the ballroom we heard the sound of gunfire, and those of us who heard
that noticed it wondered what was happening. And that was most eerie was the silence that kind of descended on the room as those doors to the corridor busted open, and we saw police and Secret Service coming in with their weapons drawn, and they made their way through the well of this ballroom to the stage They did that by knocking over chairs, stepping on tables, making their way onto the stage, and we saw the President, other dignitaries
along with the reporters who remembers the White House Corresponds Association Executive Board taken off of that stage, and then Secret Service with their guns drawn again pointed them at the audience as they looked to see if there was anyone with a gun in the audience as well. All the while, guests were quick to move onto the ground, some ducked beneath tables, and we were left in that moment of silence, wondering what was happening and what was
going to happen next, and there wasn't clear guidance. Over the next fifteen or twenty minutes, I was seated on the rim of that room. Again it looks kind of like a well. The bulk of the tables are a little bit lower than where I was on this mezzanine
surrounding it. After about fifteen minutes, law enforcement again came through those doors and told many of us that we had to leave, rushed us out of the room, and we went up a set of escalators and other set of escalators to the lobby and waited wondering what was going to happen next. There were reports at the time that the President wanted to come back out and have the event continue as it was scheduled, so we were waiting to see if that was the case. Some of
us tried to get back downstairs. We were rebuffed in those efforts, and it became clear once we were able to use our cell phones was very difficult to get service that because of protocol, they weren't going to continue with the event. And then in another fifteen minutes time or so, the rest of the guests at the dinner, and we're talking about journalists and members of Congress, diplomats, business leaders began to make their way back up to
the lobby. Once again, there was just an incredible presence of law enforcement outside of this hotel, which is in downtown Washington. D C was also the site of where Ronald Reagan was shot in March of nineteen eighty one. Then began another round of chaos as people tried to leave Connecticut Avenue, this major thoroughfare was closed down. It was very difficult to get a car or a taxi back to hotels. So again throngs of people, more than two thousand people just trying to find their way back
to their hotels. After this, we got worded that the President was going to speak to the press at the White House, and some members of the White House Press Corps headed back to the White House for that briefing, and the President was there alongside the Vice President, Jady Vance, who was also at the dinner, members of the cabinet as well. The Acting Attorney General Todd Blanche was there
with Cash Pateel, the head of the FBI. Marco Rubio, the Secretary of State, was there as well, and the President was very gracious in his remarks about the President of the White House Correspondents Association dinner. He said he was pleased with the event and really wanted it to continue again. Protocol prohibited that from happening, but he said within the next thirty days he wanted to have that
dinner rescheduled once again. He said that he wouldn't allow someone to tear apart the fabric of society that would prevent something like that from happening. He delivered those remarks. The bulk of the questions from the reporters in that room had to do with the President, having lived through a couple of events like this before that attempt on his life in Butler, Pennsylvania, another instant at a golf course of his in Florida where law enforcement killed somebody
who had a gun on that golf course. The present very contemplative, introspective about that, sharing his thoughts on the prospect of him being targeted. Once before and before the night ended, we had some clarity on who the suspect was, and in broad strokes they identified him as a thirty one year old male from Torrents, California. Then on Sunday morning, Todd Blanche, the Acting Attorney General, went on television and shared a bit more information about what they'd learned about
this suspect. He'd traveled from California to Washington, d C. Via train. The guns that he had he'd purchased eight months ago, and he was staying in the Washington Hilton. In that hotel, the US Attorney for the Distct of Columbia, Jenane Piro, said in remarks that she made at the Hilton after the incident took place. She anticipates filing two charges against the suspect on Monday and invoke the spector of there being more charges as they learn more about
both the suspect himself and what transpired there. But a very sobering night here in Washington, DC.
And that's Bloomberg's David Gera, who says police Day, the suspects spent years quietly acquiring his arsenal Nathan.
All right, Karen, thank you. We want to get more now on what we are learning in the aftermath of the events on Saturday night at the Washington Hilton. Joining us now as Bloomberg News Deputy Washington Bureau chief Laura Davis. And Laura, we heard a bit about what we've started to learn about this suspect. What more are we hearing is we await his first court appearance today.
Good morning, Good morning.
Yes, we're waiting to hear more details about what his motive was and what his targets might have been in this There is a manifesto that the Bloomberg News has reviewed that seems to suggest that the the attacker here referred to Trump as a trader and referred to himself as a potential assassin. It's not at all clear, you know, exactly kind of what sort of the ideological methods and motives were but these are these are details that may come out as we hear more in the arrangement and
additional charges that may be filed. There were two preliminary felon accounts that he was charged with related to to his handling of weapons charged over the weekend, but we have heard from prosecutors that they anticipate that more charges are still to come, so lots of details there. They also searched his house over the weekend in California, so
there may be additional evidence as that comes out. There's also, you know, reports that the family is cooperating and they have actually tipped off the police to to some of as actions. So there's there's a lot of pieces that investigators are putting together as we speak here. But there's you know, sort of a always the questions are raised after an event like this of you know, what went wrong? What is you know sort of the Secret Service's response
to this. In past incidents, we've seen top officials at the Secret Services their jobs, step down, resign. That is not the indication we're getting, at least so far from the White House, who's sort of indicated support for the law enforce, enforcement and authorities involved here. They put out a statement in support of the Secret Service. So lots of questions, you know, exactly on how this unfolds and what this means for both this event and other events involving the President going forward.
Familiar questions, particularly at a time when the nation's capital has been under heightened security almost from the time that President Trump returned to office, with a higher National Guard presidence all around Washington, d C. As well, and now the President sort of putting out this idea that this incident at the Hilton shows why he wants a ballroom at the White House. That's now I guess on hold in terms of the construction, what to make of that?
Laura, Yeah, this is a you.
Know, sort of to quote Realma Manuel and sort of never let a political crisis go to waste. You see, the White House very quickly pivot to using this as an example of why that they should have a large scale ballroom on the on the White House grounds that can be more secured that is, you know, behind the White House gates and is fully within the control of the federal government and the Secret Service protection. You know, this, however, you know, begs the question of would this event actually
happen in that ballroom if it were to exist. That is is not clear both if that the White House Corresponds Association want that or even if the size of this ballroom that Trump is planning would would accommodate an event of this size and scale. But this is sort of the you know, an issue that Trump is really viewed as as close to his legacy. He you know, wants this ballroom. It's hit several legal snags in the process.
Trump has been sort of using this method of you know, go ahead and push forward with the construction first, ask questions later, face the legal challenges later. And he's in this moment where he's faced a series of legal setbacks. This may give him a fresh boost both you know, politically in terms of support for a project like this, as well as from members of Congress. We've already seen at least one bill from a Republican lawmaker put forward
to advance the construction of this. But there's a lot of different avenues here, in different steps that would need to happen for Trump to be able to push forward with the ballroom. But this gives him, at least rhetorically a reason and you know, a very concrete example on why he should be able to have a larger ballroom on the White House campus.
You mentioned that this raises questions around other events. It just so happens we have another event starting today in Washington with the arrival of King Charles the Third for a state dinner. I mean, there are a lot of questions about the US UK relationship for one thing, But does the security situation sort of overshadow all that now?
It certainly does, and this is you know, kind of a concern. You know that the King and Queen from England are scheduled to arrive have a very ambitious trip. It's a four day trip. They'll be both at the White House but also on Capitol Hill. They're headed to several sites of New York and as well as in Shenandoah. So they'll be out and about a lot, and typically their security is far less than what the US President typically has of you know, they're out shaking hands with
people in crowds and open air. You know, these are all the kinds of scenarios that make you know, at least US Secret Service very nervous. And then they have like to have lots of control over that, as we saw during the campaign, after Trump and the assassination attempt at Butler, Pennsylvania and that big open air rally. Trump stopped doing outside events for a period of time until they felt like they could get the security situation under control.
You know that all indications are that this event, that this visit from the King and Queen will continue, will continue largely as scheduled. But one has to imagine that the all the various authorities you know you're working with, both Secret Service as well as as local and state authorities who are in charge of securing these events, are working very, very carefully to make sure that this goes out without any sort of breaches the protocols in place.
This is Bloomberry Daybreak, your morning podcast on the stories making news from Wall Street to Washington, and.
Look for us on your podcast feed by six am Eastern each morning, on Apple, Spotify, or anywhere else you listen.
You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg ninety two nine in Boston, and nationwide on serious XM Channel one twenty one.
Plus Listen coast to coast on the Bloomberg Business App now with Apple CarPlay and Android Atto interfaces.
And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long.
I'm Karen Moscow and I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Day.
Ray