From the Bloomberg Interactive Broker Studios. This is Bloomberg day Break for Tuesday, June thirteenth.
Coming up today, Arrangement Day in Miami. Former President Trump prepares to face charges in the classified Documents probe.
Wall Street braces for the latest inflation report. Has the Fed meets on interest.
Rates, Apple and Oracle hit all time highs, and New.
York City offices hit a post pandemic milestone.
Ukraine says it has liberated several villages from the Russians in recent days. Plus New York City is looking for a new police commissioner. I'm Michael Barr Ahead.
I'm John Stansharon Sports.
The Denver Nuggets have won their first NBA championship. The Subway Series begins tonight at City Fields.
That's all straight Ahead on Bloomberg day Break, The business news You need to starn your day in just one fifteen minute podcast each morning on Apple, Spotify, The Bloomberg Business Appen everywhere you get your podcasts.
Good morning, I'm Nathan Hager.
And I'm Amy Morris. Here are the stories we're following today.
It could be a tense day in Miami. Up to fifty thousand people are expected to turn out at the city's federal courthouse. That is where former President Donald Trump will enter a pleet of federal charges over his handling of classifying documents. House Speaker Kevin McCarthy says the former president is being treated unfairly when compared to the current president.
When you're looking now at a current president that has documents sitting behind his automobile in a garage, the date all the way back to a senator that raises a lot. If you're charging one and not charging the other, you raid one house, but you don't raid the other.
But Trump's former acting chief of Staff mc mulvaney says, this case is different. How often have we seen you throughout our political history, throughout business history.
It's really not the crime, right, it's the cover up that gets people in trouble. Watergate was not about the break in.
It was about the cover up of the break in.
Former Acting White House Chief of Staff mcmlveney spoke with oh Matthew on Bloomberg's Sound On. Catch the program weekdays at one pm Eastern on Bloomberg Radio or listen on demand where you get your podcasts. Former President Trump's arraignment is set for three this afternoon in Miami, and.
We'll have much more on Donald Trump's day in court coming up shortly. But first we turn to the markets. Both the S and P five hundred and Nasdaq one hundred are trading at their highest level since April of twenty twenty two. There's optimism the Fed will pause rate hikes. The Central Bank kicks off its two day meeting today. Also today we get the May reading on US inflation. Let's get more on that from Bloomberg's Michael McKee.
The economists say consumer price inflation slowed in May, led lower by falling energy and automobile prices. This inflation in rent may finally show up, holding down the core rate. Meanwhile, base effects high inflation a year ago mean a big drop in overall inflation this year. At least that's the forecast.
If analysts are wrong, however, watch out. Higher than anticipated inflation will change expectations for the Fed pol decision due Wednesday, with officials divided over whether to raise rates or make no change. An inflation surprise would lead to big market moves. Michael McKee, Bloomberg Daybreak.
Okay, Mike, thank you. And rates are also in focus in Asia, Bloomberg News has learned China is considering a broad package of stimulus measures, including interst rate cuts, to boost the world's second largest economy. Sources say that stimulus would include at least a dozen measures designed to support areas like real estate and domestic demand.
And speaking of real estate, New York City has achieved a major post pandemic Milesstone. We get those details from Bloomberg's Jeff Bellinger.
Office occupancy in the city top fifty percent for the first time since workplaces emptied out at the start of the pandemic. The security company Castle Systems provided the data. Castle calculates the number of workers entering buildings by tracking security card swipes. More workers returned to offices despite the city being engulfed in smoked from wildfires burning in Canada. Jeff bell Bloomberg Daybreak.
All right, Jeff, thank you. Back to markets.
Now.
We're watching a couple of stocks trading at all time highs this morning. Apples at its highest level in more than a year, the latest sign of big tech reclaiming leadership inequities. The latest rally comes after Apple unveiled its Vision Pro mixed reality headset and shares of Oracle also hitting records. They're up more than four percent and early trading after the company reported quarterly revenue that topped estimates. Bloomberg's Charlie Pellett has those details.
It signals the software maker's cloud business is benefiting from heightened demand for artificial intelligence workloads. Sales increase seventeen percent to thirteen point eight billion dollars in the fiscal fourth quarter. Analysts, on average estimated thirteen point seven billion, according to data
compiled by Bloomberg. Oracle has focused on expanding its cloud infrastructure business to more forcefully compete with Amazon, Microsoft and Alphabet's Google, all of which have seen recent slowdowns in New York. Charlie Pellett, Bloomberg Daybreak.
Charlie Thanks. Shares of Intel are also on the rise. They are up more than one percent. Bloomberg News has learned Intel is among companies British chip designer ARM has been talking with about anchoring its IPO this year. Arm is looking to raise as much as ten billion dollars in its New York listing.
On the flip side, Microsoft is under fire from US regulators. They're suing the tech giant to stop it from completing its acquisition of Activision Blizzard. The Federal Trade Commission wants a court order to block the deal from going through until the agency's in house court can review the sixty nine billion dollar deal.
Over in Eurobaby, the boss at Barkley says a reshuffle and its investment bank has top deal makers leaving cs Vencotta Christians replaced the heads of his investment arm earlier this year as part of a shift to focus on Europe. He tells Bloomberg's David Weston the move is about looking ahead to the next decade of banking.
It's not a shift so much as an expansion.
It is to try to give more attention to Europe.
Relatively speaking, the US remains critically important to.
US Darkly CEO of and Kotta Christian is head of the world's largest non US investment bank and.
One note on the airline industry. This morning, United is offering its pilots the biggest deal ever for a mainland US carrier. The airline is making a contract offer to pilots with incremental value in excess of eight billion dollars over four years.
Time now to take a look at some of the other stories making news in New York and around the world. For that, we're joined by Bloomberg's Michael Barr. Good morning, Michael, Good morning.
Nathan, New York City's police commissioner, has abruptly resigned. Keitch and Seoul, the first woman ever to lead the New York City Police Department, announced their resignation by surprise and a letter addressed to the rank and file and it. Sewell wrote she has witnessed their compassion, heroics, and selflessness on a daily basis, calling them hard working public servants. Former NYPD Chief of Detectives Robert Boyce credit Seool for working to reduce the city's crime rate on her watch.
If you look at the numbers, the bio stumbers, they've come down dramatically, you know, twenty four percent reduction in shootings, forty percent reduction in homicide. Thinks that she's done the way she's carried herself with a lot of duty families, a big loss that we're going to talk about for quite some time.
Mayor Eric Adams issued a statement thanking her for her work. Officials in Lockport, New York, say one person died and multiple people are in the hospital after a boat capsized during a tour of an underground cavern system built to carry water from the Erie Canal. Police and fire crews were called to the Lockport Cave tours after. Authorities say twenty nine people were aboard the boat when it flipped, sending them into the water up to six feet deep. Fire Chief Luca Quagliano.
The boat can safely handle up to forty people. There was twenty nine on it at the time. Somehow, at the end of the cave or the destination at three hundred feet section there, the boat became unbalanced and capsized.
Chief Quagliano says eleven people were sent to local hospitals with minor injuries. Secretary of State Anthony Blincoln says he hopes the Ukrainian offensive now underway will force Russian President Vladimir Putin into talks to end his invasion. Ukraine says it has liberated several villages from the Russians in recent days. However, a regional governor says at least three people have been killed and twenty five wounded after missiles hit civilian buildings
in an overnight attack in President Zelenski's hometown. The governor of Illinois signed into law a bill that would prevent book bands in the state, the first legislation of its kind. Pat Sajack, who has hosted the hit game show Wheel of Fortune since nineteen eighty one, says he will retire next year. Say Jack, who is seventy six, says it has been a wonderful ride. Global News twenty four hours a day, powered by more than twenty seven hundred journalists
nanialists in over one hundred and twenty countries. Michael Barr, this is Bloomberg.
Nathan Man sold a lot of vowels. Thank you, Michael. Time for the Bloomberg Sports ut they brought to you by Tri State out Ay. Good morning, John stansh.
Out, Good morning, Nathan. The NBA season is over with a first time champion.
It's over.
It lets, the long.
Wait is over for forty seven years, but Denver Nuggas can finally call themselves NBA champion.
Their call on ABC. Denver beating Miami in Game five, ninety four to eighty nine. That's a score you used to see back in the nineteen nineties. It was that kind of a game. Rugged defense. Both teams struggled to score. They combined to make only fourteen out of sixty three three pointers. The Heat led for most of the night. Denver made a run fourth quarter, then Jimmy Butler got hot put Miami back ahead, but Butler would commit a
costly turnover in the final minute. Nikola Jokis Finals MVP led everyone in the playoffs in scoring, rebounding, and assist. First ever do that the second June in a row, or they are celebrating in Denver. The Avalanche last year won the Stanley Cup and the Cup will be in the house tonight in Las Vegas. Golden Knights up three one on Florida also tonight, start of a two game Subway series at Cityfield. Luis Sevarino for the Yankees, who just had a two to four homestand Max Scherzer for
the Mets, who lost eight of their last nine. The Mets have signed to former Yankee Luke Voit, just released by Milwaukee, will report to Triple A. Sakwan Barkley not reporting of the Giants mini camp this week. All eyes on July seventeenth, that's the deadline for the Giants to sign Barkley long term. If they don't, he'll either play for the ten million dollar franchise tag Ars sit out
this season. The US Open tees off Thursday in LA and two former champions will play together, Brooks Keepka, who left the PGA Tour for Live and Rory McElroy, who was outspoken in his criticism John Stashewer Bloomberg Sports.
From coast to coast, from New York to San Francisco, Boston to Washington nationwide on SiriusXM, the Bloomberg Business Appened Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager.
The city of Miami is bracing for potentially big crowds and the possibility of protest as former President Donald Trump gets ready to enter a plea two dozens of counts later today at the city's federal courthouse. For more, we are joined by Bloomberg News Senior editor Bill Ferries, who, as it happens, used to lead Bloomberg's bureau in Miami. It's good to speak with you again, Bill. Is the city you used to know ready for what's coming this afternoon?
Thanks Nathan. Listen to mayor and the police chief for Miami Dade and the City Miami have all said that they're prepared. They don't. They admit they don't really know what to expect. They estimated crowds could be anywhere from a few thousand to fifty thousand, depending on how many of the former president's supporters and his opponents all convene at that courthouse where the former president is expected to appear at three pm today.
Let's talk about a little bit what we do know is going to happen. Walk us through what is expected when the president faces those charges this afternoon.
Well, the first thing we'll be looking for, really is who's with him. As you know and your listeners know, a couple of his key lawyers who have been guiding him through this process quit in the last week or so. So I think the first thing we'll be looking for when the president makes his appearances, who is alongside him, who is representing him? He needs to he needs to
have lawyers who are authorized at the Florida Bar. So that's been I think a focus of the President and his allies over the last few days as he prepares for this. When he gets into the courtroom, he's going to have to presumably plead innocent. He said he's innocent to all thirty seven counts across seven charges, all relating to his his storage of classified alleged storage of classified material at the mar A Lago resort.
So uh, and we you.
Know, after after that, after that ends, will will get a better sense. I think of the timeline of this court case, we do expect it to bleed well into next year's presidential primaries and possibly the election. And we're not expecting right now the president to necessarily address his supporters outside the courthouse. There's been talk that he will go back to his his club in New Jersey and
perhaps give a speech there. But everything, you know, we've never seen anything like this and and anything as possible. So we'll be we'll be watching closely to see how the president moves forward.
Apart from entering a plea today, Bill, are we expecting that we're going to get any glimpses either from the Special Council, the federal prosecutors for amounting this case, or from Trump's defense attorneys, whoever they may be, as to how this case could go forward in terms of the arguments that they might pursue.
Yeah, I think, you know, in the case of former President Trump, there's always two sides to this. He obviously has always made a lot of his arguments against these kind of things public. It's not clear that that will carry as much weight in the courtroom, but we will, I think, from he and his lawyers get a sense of, you know, whether they're going to contest some of these some of the some of the means, some of the evidence that the federal government is saying that they built
up against him. We may get a sense of their strategy in terms of trying to drag the timeline, timeline of this of this case out, whether by calling for some of the classified material to be to be made
public in the courtroom or other procedures. I mean, the former president has a history of trying to delay and drag out court proceedings, so I would expect we'll start to get a sense of that perhaps in the courtroom or when his lawyers leave and they issue some statements about how they feel the day has gone.
Of course, we've seen the political impact already. Bill in our last minute here, we've heard Republicans defend the former president saying there's a double standard. At the same time we're hearing from pretty powerful Republicans questioning the former president's electability. Now that he's facing these charges. How significant is that that we're hearing from the likes of John Cornyn questioning the former president.
Yeah, I think there are some Republicans who are in Trump's corner as presidents, who want to move on, who think that maybe even if this is rallying the traditional base, the primary voters who backed Trump, that it's really going to do the Republican Party damage in the general election next year. That's I think they're looking ahead to that with a big question mark. And you've seen a couple of Donald Trump's opponents in the primaries now, Nikki Haley
and Tim Scott. I believe both kind of come out with some cautious words, cautious criticism of what they read in that indictment against the former president. So the tide has turned a little, but obviously he still has that big base of support to back to back them up.
This is Bloomberg day Break Today, your morning brief on the story's making news from Wall Street to Washington and beyond.
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