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Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we'll have more on the markets in a minute, but we begin with the latest on the deadly shooting spree in New York City. A gunman shot and killed four people before turning the gun on himself at the epicenter of American Finance, in a building that houses the offices of the National Football League. Bloomberg's John Tucker joins us from Manhattan with the very latest.
John and Nathan's security camera footage at three forty five Park Cabinue who shows the shooter double Park is black. BMW enter the lobby of the forty four story dark glass tower with an assault rifle. He turns right and immediately opens fire on an NYPD officer. He then shoots a woman who took cover behind a pillar, and proceeds through the lobby, spring it with gunfire. He makes his way to the elevator bank, where he shoots a security
guard who is taking cover behind a desk. NYPD Commissioner Jessica Tish goes up.
To the thirty third floor, which is Roodent Management and begins to walk the floor, firing rounds as he traveled.
Mayor Eric Adams identifies the murdered police officer, who was in uniform working security, as thirty six year old dar Adel Islam, married with two young boys and a pregnant wife.
He's an immigrant from Bangladesh and he loved this city, and everyone we spoke with stated he was in person of faith.
Jessica Chen was attending a presentation on the second floor with over one hundred colleagues when they heard the commotion. Her first instinct was to text her loved ones.
Testing my parents that I love them.
I tested people good in.
My life that I love them. We were honestly, really really scared.
Three forty five Park is home to Rudent Management, the investment company blacks Stone KPMG, and the National Football League. A Blackstone employee was among those killed. At ESPN reports one NFL employee was seriously injured, and now law enforcement officials are telling Bloomberg the gunman was targeting the NFL but ended up on a Rootent Management floor by mistake. The shooters identified as Las Vegas resident Shane Devon Tamara.
He was found dead from what's believed to be a self inflicted gunshot wound, and his social media feed showed he had a football career that ended after a head injury, and he wrote that the NFL didn't do enough. He has a documented history of mental health problems. He previously worked as a security guard at a Las Vegas casino and did hold a concealed Carrie permit for Nevada. In New York Time, John Socker Bloomberg Radio.
Nathan, we want to turn out to the trade talks, and Commerce Secretary Howard Lutnik is sounding optimistic that the US and China will be able to extend their trade truths in other ninety days.
They're talking right now. The decision maker, of course, with President Trump. I'm sure the people with who are speaking with China.
We're going to go discuss with.
President Trump how he wants to play it. He's got an excellent relationship with President She and I think we'll leave that to Donald Trump to decide how he wants to do it. Is that a lively outcome, Sure it seems that way, but let's leave it to President Trump to decide.
Commer Secretary Howard Lutnek spoke on Fox News. Treasury Secretary Scott Bessend is leading a delegation and a third round of talks with Chinese officials that's said to wrap up today in Sweden. Meantime, the President Taiwan appears to have canceled an overseas trip next week after the Trump administration failed to approve his stopover in the US. Sources to say there is growing concern that Lei Ching does visit
could derail the China talks. In a possible summit between President Trump and Xieshin Ping on Truth's Social President Trump denied he's seeking a meeting with she that we said he could go to China if the President invites him well.
Meanwhile, Karen, the trade agreement that the European Union just reats with the US is facing outing criticism. The deal would slap fifteen percent tariffs on most EU exports, while the average duty on US goods should drop below one percent once the agreement goes into effect. We get more from Bloomberg News executive editor Paul Dobson.
It does seem like as people considered this deal, they detected that there were some weaknesses within what the European Union had conceded in order to get it done. So, yes, having some sort of a deal removes that risk of escalation, but it also sort of takes away the bargaining ships that the authorities had to try to drive better deal. In some parts of the business.
World, Bloomberg's Paul Dobson reports the US and EU are working on a non legally binding joint statement by this Friday, and then we'll start working on a legally binding text. An EU official says that could take time. These kinds of trade accords usually take years of negotiations.
Nathan, there may be a mega rail deal in the works. Bloomberg News has learned United Union Pacific is near an agreement for a stock and cash dealed by Norfolk Southern would value the small Arrival at about three hundred and twenty dollars a share. That price would represent a roughly twenty three percent premium to Norfolk Southern stock price before the first reports of a potential deal this month. If kimpleted, this would be the rail industry's biggest ever tie up.
Certain of the equity markets now, Karen futures are pointed higher as we enter the Tuesday session.
The SMP five hundred.
Eek got a gain yesterday to nach it's sixth consecutive record close. Cameron Dawson is chief investment officer at New Edge Wealth.
We've been thinking that the one risk to the upside in the US is that we were calling it the prints market, where we could sing, let's go crazy and party like it's nineteen ninety nine. And there are certainly aspects of this market that are starting to look very frothy. We're starting to see huge rallies in the most speculative portions of the market. You see a lot of options
activity that is only betting on the upside. All this speculative fervor shows that there are investors that are absolutely clamoring for risk and have zero for any potential downside.
New Edge welths Cameron Dawson thinks earnings will be the key driver for markets going forward.
Well, speaking of earnings, Nathan, it'll be another busy day with nearly three dozen companies in the S and P five hundred reporting, and they include Boeing. We get a preview with Bloomberg's Tom Busby.
Boeing is back.
Look for strong improvement in Boeing's cash burn and its operations after it delivered a healthy one hundred and fifty jets in the second quarter, more than expected and sixty three percent more than the same period one year ago.
A potential strike by Machinist at its defense unit, the maker of the F fifteen and FA eighteen fighter jets, could weigh on its outlook, though Bloomberg consensus calls for total revenue of twenty one point six to eight billion dollars on a core loss per share of one dollar forty cents on a negative cash flow of one point seventy nine billion dollars.
Tom buzzby Bloomberg Radio.
All right, Tom, thanks, it's also a busy day for earnings in Europe. Let's go to London check in with Bloomberg's Ewan Pots for the very latest.
Good morning you and.
Nathan and Karen Treys. British bank Barclays have turned in their best second quarter performance in three years, the twenty six percent game recorded in the fixed income business, driven by tariff induced volatility in markets. Tariff's also in focus
for carmakers. Dalantis, the Italian company behind Chrysler and Jeep, says it expects to take a one point two billion Euro hit in the second half following the EU's trade deal with the United States, and we also had earnings from the most valuable listed company in London, drug maker AstraZeneca reporting better than expected sales and rising profit for the second quarter, spurred by its stable of cancer medicines and growth in the United States. In London. I'm un pots Bloomberg Radio.
A right you and thank you. Another major bank once its employees back in the office, HSBC is asking our managing directors to return to their desks at least four days a week starting in October. Five years after the global pandemic field and unprecedented boom in remote work, bank executives have become more volgal and insisting networker's return to the office. Back in January, JP Morgan Chase told its employees to come back five days a week.
And Karen the gold bull rush may not be over.
Fidelity says the commodity could hit four thousand dollars an ounce by the end of next year. The firm sites the Federal Reserve likely to cut rates to cushion the economy, the falling dollar, and central banks adding to their holdings. Checking gold prices right now, Comix golds up three tenths of one percent, trading at thirty three hundred and seventy seven dollars and fifty cents per ounce.
Time now for a 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.
This week, two hundred million Americans are under heat alerts from South Dakota to the Northeast. In New York City, temperatures could reach as high as one hundred degrees today. In Boston, the highest forecast to hit ninety seven. The temperature will be in the mid nineties in the nation's capital. President Trump is putting pressure on Russia to make a piece deal with the Ukraine. The President had given Vladimir Putin fifty days until early September to make a peace
deal with Ukraine. Speaking in Scotland, the President now says he's moving up that deadline.
I'm going to make a new deadline of about ten, ten or twelve days from today.
There's no reason in waiting.
The President has threatened to hit Russia with quote very severe tariffs. Former Russian president Dmitri Medvedev Warren that President Trump's ultimatum is quote a step towards war between Russia and the US. Israeli Prime Minister Benjamin at Nahu says no one in Gaza is starving. President Trump disagrees and notes the images emerging of emaciated people. The World Health Organization says sixty three of the seventy four malnutrition related
deaths in Gaza this year have occurred this month. Those included twenty four children under the age of five. UNICEF spokesman Ricardo is in Gaza.
More part theers need to be open. More humanitarian aid needs to flow is through the sky. It's again very welcome, but it cannot replace the efficiency of trucks that actually go to communities and do not put them at risk.
Israel has agreed to a temporary halt in the fighting in Gaza while air drops of food and medical supplies are being sent in. President Trump asked a judge to order Rupert Murdoch to set for a deposition within fifteen days in mister Trump's ten billion dollar libel lawsuit against the Wall Street Journal over a story about Jeffrey Epstein. The President argued and expedited schedule is justified due to
the executive's advanced age. Meanwhile, Epstein's accomplice Kallay Maxwell, asked the Supreme Court to consider an appeal to overturn her sex trafficking conviction. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now.
I'm Michael Barn.
This is Bloomberg Karen.
All right, Michael Barr, thank you time now for the Bloomberg Scores update, brought to you by Flushing Bank. And here's John stash Hour. John, good morning.
You want to care. The Mets took their seven game winning streak to San Diego, got a Markiento's grand slam of the fifth inning, only to have the Padres came right back with five runs in the bottom of the fifth. The Mets trailed six to five in the top of the nine, and he hits one of the air the tap, bright cutter, black coast.
Tatis takes a.
Look and this game is tied.
Joddy Maarisio for the second straight night.
What tight home on the top of the ninth.
I have a Mets of cutting.
Back even six to six?
Yes, and why Maratio had that four hit nine total base game in Sundays win in San Francisco.
The Padres, however.
Scored bottom of the ninth off new met reliever Gregory Soto, who hurt himself with an error. Padres won seven to six Mets Day game and a half head of the Phillies, who lost with the White Sox at the Stadium. The Yankees had three hits in the first inning, score twice, and then did nothing in the rest of the game. Lost to Tampa Bay four to two. Lost a chance to gain ground on Toronto, who lost in Baltimore. The Jay's Day five and a half ahead. Red Sox lost
in Minnesota five to four. Nationals won two to one in Houston the day after the inductions in Cooperstown. A Hall of Famer has passed away. Ryan Sandberg was sixty five, had battled kin through the past year and a half. Played fifteen years for the Cubs, a ten time All Star, nine Gold Gloves, the NLMVP in nineteen eighty four. There it's a statue of Sandburg outside Wrigby Field. Dean Sanders
revealed that he's been battling ladder cancer. The NFL Hall of Famer current Colorado coach made his first comments with.
Now wonderful people like this, I probably wouldn't be sitting here today because it grew so expeditiously. I could say, man, everybody get checked out, because I've been one for me getting tested for something else. They wouldn't have stumbled up on this. And make sure you go to the get the right care.
Jon had successful surgeries, doctor said Sanders is healed.
Johns Dashey or Bloomberg Sports.
Karenamathan, all right, John, thank you, and Bloomberg Daybreak is brought to you by Flushing Bank. Life's more rewarding with Flushing Banks complete cash rewards program for personal and business accounts with twenty nine in New York metro locations, There's nothing more rewarding. Visit Flushingbank dot com member FDIC.
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.
Good morning. I'm Nathan Hager.
The heart of New York City's financial district is reeling this morning after a deadly mass shooting inside the building that houses Blackstone, the NFL and many other businesses.
New York City Mayor Eric Adams no.
Hearts to heavy. Five innocent people shot tonight. We lost four souls to know the senseless act of gun violence.
Mayor Adam spoke last night after the gunfire inside three p forty five Park Avenue. Joining us this morning, Bloomberg's Miles Miller, who's covered New York City for decades. Miles, good morning, what's the latest that we know about this shooting?
Good morning.
What we know now is that the suspect in this incident happened to have been targeting the National Football League in this building that houses not only the National Football League, but also Blackstone and KPMG. The National Football League occupies the fifth floor. We're told that the suspect in his back pocket had a note that made reference to a chronic condition that a lot of football players have, known
as CTE. It's a condition that only is really studied after a person who has it dies and they study their brain, and it appears as though he was a football player from Nevada, had played in high school, and based off of those hits, he believes he had that condition, and so that's why police believe he took this cross country trip from Nevada, making stops in Colorado and then most recently New Jersey, before carrying that M four rifle into that building on Park Avenue and opening fire, killing
scores of people.
You said that the NFL headquarters is on the fifth floor, but from what we understand, the gunman in this case wound up on the thirty third floor.
How did that happen?
Yeah, the suspect in this incident walks in to the building and the first person he encounters is a police officer in uniform who's doing what's called a paid detail, meaning it's his day off, but he's in uniform working private security for an approved company. He shoots that police officer in the back and then can kin use firing in that lobby and gets into the first elevator bank he sees. When he gets in that elevator bank there's a woman already inside. She runs out. He doesn't shoot her.
But it's the elevator banks that have that are in most corporate buildings now here in New York, where the floor is picked outside. So he didn't pick the floor. He got in, he got out, and when he reached that floor, the thirty four that floor. He wound up on the floor that is occupied by Rudin, a big
property management company here in New York. And it's there where he is walking down the hallway firing left and right, strikes a woman who works for that firm, and then ultimately turns the gun on himself.
Now, obviously, Miles, this is raising a lot of memories just a few months ago of what happened outside the meeting where the United Health CEO was killed. This has got to raise questions about security inside bill things in Midtown.
What's being done about that?
Right?
If you know anything about Rudin, the one thing that Rudin spends, you know, a lot of money on is the security of their buildings. They are one of the largest contributors to the Police Foundation here in New York. In fact, I was at their gala a few months ago and Rudin was honored because of their work with
this plate paid Detail unit. It has a lot of folks who are both in property management but also just generally in corporate In the corporate world, frightened because this appears to be another targeting of an organization and potentially its executives as it relates to a specific cause. And you know that was the same thing that happened with Luis Jimangion, right, a guy who had issues with United Healthcare, who had back pain, who had that debilitating surgery and
was having issues with United Healthcare. We're seeing the same thing happening here with Shane tomorre Or, a twenty seven year old who you know, in his note that he left in his pocket, has said he experienced significant pain from his football career and he felt the NFL wasn't doing anything about it. This is something that has been on the mines of corporate America for the last couple of months, and here it is rearing its ugli head.
Yet again, has there been any reaction as far as we know from the NFL, not just in regards to what this gunman had to say in this apparent manifesto, but about what they're going to do in terms of ramping up their own security.
Yeah.
So this this came out overnight, but you know, we're worth mentioning that the NFL's head of security is the former head of DC's Metropolitan Police Department, you know, and so they will definitely be taking a look at what they can do in terms of security of their facilities and also security of the clubs around the country. Right, this is not just narrowly focused on New York. It's going to be something they look at around the country at miles. What do we know at this point about
the victims. Of course, there's been a lot of attention, at least at the outset on this officer who put himself in harm's way last night. Right, we know that at least one of the victims was an employee at Rudin. We know that a Blackstone employee was among one of those killed. And then we also know that this police officer who was the first person shot was expecting a baby in just about two months or about a month
and a half. His wife is currently pregnant. You know, he had, you know, worked towards the American Dream, had worked as a traffic agent before he joined the NYPD, worked his way up to being a cop. He's a cop. He was a cop in the Bronx and was working to make ends meet. Now you know, they're live shattered, the family's live shattered forever by what was truly a senseless shooting and an alarming shooting in the middle of midtown Manhattan.
And given that alarm miles.
So you have to wonder whether these businesses, so many businesses housed the three forty five park, are going to be able to even operate today. What have we heard about that?
Right?
A number of the companies that are based there have told their employees that they're able to be working from home. You know, it's worth noting that this is an area that is filled with finance firms. Right, we're talking about Citadel in the neighborhood. Obviously, we know JP Morgan has a huge building that they're building there, but also it's a major campus for them. It's their headquarters out of there. We know that they're going to be stepping up their security.
Right.
Jeffries is based in a neighborhood as well. My friend just took a job chief of security at B and Y formerly B and Y Melon, and you know, second day on the job, he's going to have to be meeting with folks to figure out how they're going to keep their employees safe. You know, it's going to be a look at Okay, if we have police on the perimeter, you know, is that enough to stop a threat? I mean, this guy walked in to this building toting an M four in the middle of Manhattan, double parked his car.
Will the NYPD supplement their units and bring back their counter terrorism and Strategic Response group so that they can quickly mobilize to things like this happening? And you saw yesterday the mobilization from the NYPD was immediate and really trying to sweep that building to make sure that everybody was okay once the threat was neutralized.
All right, Myles, thank you for this.
That's veteran Bloomberg New York City reporter Miles Miller with us this morning. We're going to be checking back with Miles for updates throughout the morning. It's just about five point twenty four on Wall Street. Let's get to the latest now on some of those trade discussions. A second day of talks between Treasury Secretary Scott Bessant and his Chinese counterparts is underway in Stockholm, Sweden, where we find
Bloomberg's Oliver Crook this morning. Oliver, great to have you with us, walk us through what we know so far. It sounded like everybody was kind of mum coming out of talks on day one yesterday.
Good morning, Yeah, that's.
Right, good morning, they said, about five hours speaking yesterday here in sweet they've been inhabiting the Prime Minister of Sweden's offices, which is very kindly lent out for these trade negotiations between the Chinese Vice Premiere at Scott Fessant and Jamison Greer. Five hours of discussions yesterday. We've just watched them walk in about thirty or forty five minutes ago, So we have to imagine that the meeting is now underway and we'd hope to hear from them at some
point later in the afternoon. The real deliverable here, what we're expecting to get and hoping to get from the Chinese and the United States is another extension to that truce that was struck after that trade war escalated between China and the United States. You'll recall that tariff rates reached one hundred and twenty five percent at one point, basically precluding any trade between the two largest economies in
the world. That has now come down, But that trade truce has is set to expire on August of twelfth. So the ambition here is trying to make some forward progress on a getting that truce forward, but then also laying the groundwork for potentially a longer term trade deal with China, and of course there's been a lot of discussion potentially about Trump traveling to China meeting directly with Shijiping, and so those are going to be the things that are circulating in the air.
Yeah.
We heard some measured optimism from Commerce Secretary of Howard Ludnik on Fox News yesterday saying that there probably is going to be an extension of that trade truce. And there's been a little bit of ranker I guess you could say, around the lead up to a potential meeting between Presidents Trump and She, particularly when it comes to Taiwan's president.
Yeah, so we understand that the US administration has basically forbidden, or at least sort of encouraged the Chaiwanese bresdent not to pass through the United States, and that comes at a time when the administration here on the United States has been taken a sort of softer tone with China. What I think is really interesting is to think about the contrast that we're seeing between the negotiations we had with the European Union and the ones that we're having
with China and the United States. The Europeans are much more willing to accept concessions and to potentially go the root of pragmatism a trade deal that's not really that good, but are not willing to retaliate. For the Chinese, it's a very different story. The Chinese have been spending the last few decades boosting their status economically, boosting their status
on the global stage. They are going to put pride and the ability to not even theatrically bow as many of the European countries have and many of the US
trading partners have. They're much more unwilling to do that, which is why it's going to be a much tougher negotiation for the United States, and we're going to have to see how much appetite there is from the Trump administration to really fight very hard, because of course, this has been one of the great campaign pledges of Donald Trump, which is to fix the relationship, the trading relationship with China, which he says has continuously ripped off the United States for many decades.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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