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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 begin with new developments in the Middle East. US forces have carried out fresh strikes on Iran, targeting air defense and surveillance sites near the Strait of Horror Moves. The military is describing the attacks as proportional. They came hours after President Trump blamed Tehran for shooting down an American military helicopter. ABC Chief Washington correspondent Jonathan Carl was on the phone with President Trump when the strikes were announced.
The President made it clear to me that these US strikes on Iran are specifically in response to Iran's downing of that Apache helicopter. He brought up the peace deal that he is trying to negotiate with the Iranians. It seemed clear to me that even as he was ordering US attacks on Iran, he still believes he can get a peace deal with the Iranians.
And ABC's Jonathan carlsa's President Trump told him he does not see the strikes as the start of a major new offensive. Bloomberg Middle East corresponded to Birabu Omar says Iran has retaliated now.
The Iranian response came in the shape of attacks against some GCC countries that includes the US Fifth Fleet and Bahan, but also some US bases in Kuwait and in Jordan as well. A US base was attacked there. The IRGC came out and said that any attack will be responded to. President Trump maintains that discussions to reach the ceasefire truce are still underway and that Pakistan is still very much mediating those truce discussions.
Bloomberg's a birabo Olmar says iron has not acknowledged shooting down the US helicopter.
Well, let's turn to politics at home. Nathan primary election results are in for four states across the country. Much of the nation's focus was on the Democratic Senate race in Maine, where with eighty percent of ballots counted, progressive military veteran Graham plat is the winner with seventy two percent of the vote. Governor Janet Mills suspended her campaign in April due to lackluster fundraising, but she still picked
up nineteen and a half percent. Last night, Platner's campaign was played by a series of scandals and accusations of past misbehavior, and he alluded to it in his victory speech last night.
Every day I wake up and I try to be a little bit better and a little bit kinder than I was the day before. And if you give me the chance, I will be a Senator for the people who cannot afford to buy a senator.
Gram Plattner will now go on to face Republicans sue the Susan Collins. In November, she ran uncontested in her bid for a sixth Senate term, Karen.
It was also a busy election night in South Carolina, where the Republican governor's race is headed for a runoff. Lieutenant Governor Pamela Vett had President Trump's endorsement in the five way field with ninety nine percent of votes counted. Evett came in first with twenty eight point nine percent. State Attorney General Alan Wilson is second with twenty six point two per They'll face each.
Other again in two weeks.
Congressman Nancy Mace came in last place with twelve point one percent after President Trump snubbed her with his endorsement, but May says she has no regrets I'm voted to release the EPC files and lost some support for that.
As a survivor, I chose to.
Stand on principle and stand against the EPSTEIN cover up. Along with Nancy May's fellow congress member Ralph Norman failed to make the cut. He was a strong supporter of President Trump's first term, but endorsed NICKI Haley in the twenty twenty four campaign.
In another key South Carolina race, Nathan Republican Senator Lindsey Graham, avoids a runoff. He defeated conservative businessman Mark Lynch fifty six point eight to twenty eight point nine percent. After winning President Trump's early endorsement, grand Will faced Annie Andrews in November. She won the Democratic primary with sixty one
and a half percent of the vote. Andrews ran unsuccessfully against Nancy Mace for Congress in twenty twenty two, and longtime Democratic Congressman Jim clyber and clinched his party's nomination for an eighteenth term with more than ninety percent of the vote. After Republicans draw plans for a mid decade redistricting.
There were some other key races last night.
In Nevada, Karen and the governor's contest, State Attorney General Aaron Ford ran away with the Democratic nomination with nearly sixty four percent of the vote. Ford will face Republican incumbent Joe Lombardo in an election that's become a referendum between President Trump's no tax on tips policy and a slumping tourist economy. In Las Vegas and Reno, Lombardo won his primary with almost ninety one percent of the vote.
And in Nevada's second congressional District Nathan the Republican race is still too close to call with eighty three percent of votes counted. Trump backed military veteran David Flippo leads former state Senator James Settlemeyer forty five point seven to thirty five point three percent. Retiring Congressman Mark M. Day Endure Settlemeyer to replace him.
And finally, in North Dakota, Karen Julie Fetterchak won the Republican primary for her state's only House district with seventy three percent of the vote. Federchack will face Democrat Trigg va Hammer in November.
He ran uncontested.
Wenagan billionaire Bill Gates, who is set to appear behind closed doors before the House panel investigating Jeffrey Epstein, and now we're learning that Gates, who's getting help from the former council for the committee and Bloomberg's Amy Moore supports from Washington.
The co founder of Microsoft, has reportedly been getting some help from Jake Greenberg, who The New York Times says was spearheading the Oversight Panel's Epstein inquiry until December. The Gates Foundation, which has launched an external review of gates ties with Epstein, told The Financial Times that it regretted having any employees interact with Epstein in any way. Gates has not been charged with anything. He has called his relationship with Epstein a huge mistake and has denied any
wrongdoing in Washington. Amy Moore as Bloomberg Radio. Okaymie, thank you. Let's turn to markets now. Futures are adding to yesterday's declines on Wall Street. At one point, the tech heavy Nasdaq one hundred index was down more than four percent. It paired those losses to close down one point one percent this morning. The tech retreat is spreading to Asia. South Korea's COSTPI index slid four and a half percent.
We're just one day away from the highly anticipated IPO of SpaceX. Bloomberg. John Tucker joins us with the very latest John, good morning, Good morning Karen.
Demand for what's expected to be the largest ever IPO is blasting off way over subscribed. It's around two hundred and fifty billion dollars. That's more than three times the seventy five billion, but SpaceX is trying to raise. Multiple institutional investors place orders for about ten billion dollars or more of shares each banks leading the IPO. They're expected to stop taking orders from institutional investors after the market
closes today. Now, mom and pop investors can still submit orders for SpaceX shares on some platforms beyond tonight's deadline. The company allocating as much as thirty percent of the offering to retail. SpaceX's IPO center price tomorrow. It'll trade on Friday in New York. I'm John Tucker, Bloomberg Radio.
John. Thanks, Paramount Skuydances.
One hundred and ten billion dollar takeover of Warner Brothers Discovery is now in a review in the European Union regulators there approbing the involvement of Middle Eastern funds in the takeover. Scrutiny from the EU is one of the last hurdles Paramount has to overcome after outmaneuvering rival suitor Netflix with multiple bids for warners over more than five months.
Well, Nathan, if it turns out you're not excited for this week's World Cup, You're not alone. In a recent survey, more than half of US adults said they are unlikely to watch any of the games on TV. Only thirteen percent said they were absolutely certain to watch. According to a Morning Console poll conducted by Bloomberg, views on the tournament, varied by age gen Z, whose oldest members are in their late twenties, show the most enthusiasm. Baby boomers, now
in their sixties and seventies, displayed the least excitement. Three quarters of them say they are not soccer fans, in about half have never heard of star Lanel Messi. The World Cup, which is co hosted by the US, Mexico, and Canada, kicks off tomorrow. 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.
Game four of the NBA Finals is tonight there will be a watch party outside Madison Square Garden, but NYPD officials will compy Monday night security perimeter and you'll need a ticket. Meanwhile, MSG and the Knicks aren't happy with police and the mayor, calling Commissioner Tish and Zora Memdani party poopers. More on the game with John stash Hour in a moment. Meanwhile, a Nick's watch party Monday night at Brian Park turned violent. The NYPD arrested more than
twenty people. Residents in California face potential power outages later this week as wins will increase wildfire risks. Bloomberg's Craig Allen.
The heat is beginning to intensify and expand across more of the US, and this heat, the dry air, the strong winds will be a major hazard in the planes, Rockies, and especially in northern California. Red flag warnings cover these regions and we're keeping a very close eye on the potential danger in the Sacramento Valley about twenty to thirty
miles either side of I five. Heat advisories now have also been posted in many counties could lose power intentionally as PG and E shuts it down to prevent fires from overloaded transformers or winds knocking down the lines. Any spark or flames would spread very, very rapidly. The threat for this may continue right through the rest of the week.
Bloomberg's Greig Allen. It is the first new ultraviolet filter for sunscreens in more than twenty years. The FDA announced it is adding an ingredient to its list of what is permitted. Doctor Darien Sutton.
It's been engineered in a way where it can sit on top of the skin.
It doesn't deeply penetrate, but it still does that job.
Of preventing those UV rays from causing damage.
Doctor Sutton spoke to ABC. Kim Johan Nun called ties with China top priority. During Chinese President Chiajingping's visit to Pyongyang, the two leaders vowed to expand cooperation in trade and tourism. Pope Leo delivered a message of hope and unity to about forty thousand people at the Olympic Stadium in Barcelona Tuesday.
I'm there you entering Nosaltres.
Today the pativ will celebrate Mass at the Fame Segratta. Familia Global News twenty four hours a day and whenever you want it with the Bloomberg News. Now now Michael Barr, and this is Bloomberg Hearing.
Well, Thanks Michael.
Time now for our Bloomberg Sports update, and for that we bring in John stash Hour.
Thanksgaring game for the Stanley Cup. Finally, in Las Vegas, Carolina Hurricanes scored a goal of minute six in. They led two nothing and three to one in the first period. Vegas tied the game in the second, three to three in the third, and Jordan's Stall scored six and a half minutes in the Hurricanes at an empty ninter They won five to three and the series is tied at two. The Nixons first play their Game four the NBA Finals
tonight in New York. Forty four year old Serena Williams victorious in her return to professional tennis team to Victoria in Boklo to win a doubles match in England.
That's a Bloomberg Sports update.
Stay with us more from Bloomberg Daybreak coming up after this.
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This is Bloomberg Daybreak. Good morning to Nathan Hager.
There are fresh tensions this morning in the Middle East, with the US and Iran exchanging attacks after the downing of the Apache helicopter near the Strait of Hormus, and US election seasons heating up with important primaries in Maine, South Carolina, Nevada, and North Dakota. Joining us from more on all this this morning is Terry Haynes, the founder of Pangaea Policy. Great to speak with you as always, Terry. Want to start with what's happening in the Middle East.
We heard US Central Command say its response to the downing of the Apache helicopter was proportional, but just this morning, Iranian state media our reporting Tehran is going to reassess peace after the latest attacks.
Where do you see things at this point?
Good morning, Good morning, Nathan. A couple of things. One is that I think there is an increased likelihood, it's certainly more than a trailing risk, that the United States response is unlikely to remain proportionate. Frankly, because Iran isn't. This is being covered in the United States press largely as kind of a tit for tat, but Iran's been
kind of disproportioned for quite some time. You'll recall a couple of weeks ago there was an attack on a nuclear reactor in the Emirates by Iran that the IAEA says was more dangerous than attacking Zaparisha in Ukraine, and is even warning of a possible nuclear event in the Gulf region of the sort of kind. Iran now is also saying that the Gulf States need to make a moral choice to stop US and Israel. Moral is their work, and what they're trying to do is present the specter
of destabilizing the Golf in a more fundamental way. Now. I think the Golf already made the choice militarily and economically to be kind of on the United States side. But Iran's going to try to push this sort of advantage that by itself seems to me to be a dangerous escalation on their side that risks the United States, making the response less proportional.
Up to now, the market has been able to look past many of the developments in the Middle East and focus on the Ai trade. Are you thinking that we're getting to a point where the market needs to start pricing in a prolonged conflict in the Middle East?
I think The answer is probably not certainly at this point. But what I would warrant of is that there's going to be a rising shot of more volatility than less. Markets think they have this pigeonholed. What I suggest today is that that confidence is misplaced.
I want to turn to the election results.
Of course, a lot of the focus on the main Democratic Senate primary landslide win for Graham Platner, but maybe not as big a landslide as was expected before some of the scandal surface surrounding him.
What's your read on last night's result?
Well, a couple of things. One is I've been for the last couple of weeks been non consensus that Republicans are sixty percent likely to keep Congress in the fall. I expect a lot of change in my view over the next five months, and it's believe it or not, it will be five months before this is resolved. You've got progressive purists that are triumphing here. But beyond the many platin or personal issues which are real and won't go away, You've got purism, but be kind of an
inauthentic candidate. You've got pessimism instead of solutions. He's given away a lot of the center in a state where Collins is the ultimate centrist. And I note, you're right to say he had a landslide, but Governor Mills got twenty percent. She's not even a candidate anymore. The bigger threat with Platner, and one reason why I'm at sixty Gerrars is that you can nationalize that negative perception. It won't just be Platner in Maine, it's tall Ico in Texas.
It might be a candidate in Michigan as well, and the main Michigan candidates are both anti Israeli candidates. Plus you've got the Bidens coming back the summer and fall to remind everybody of what that was like. National Democrats are already seeing a lot of this, starting to shy away from Platner. And finally, I would note too that there, you know, Wall Street's got rising concern about the potential
of waning influence from Senate Democratic leader Schumer. You know, Mills with Schumer's candidate, not Platner, for example, And you know, so this is this fight for the soul of the Democratic Party is also a fight over its leadership, particularly in the Senate, and particularly with a leader that's very close to Wall Street.
Just one minute left here, Terry, But I got to get your take on the South Carolina Governor's race where President Trump's endorsement led to a runoff now for Pamela Vett against Alan Wilson.
I think what you get here is you have two establishment candidates, two establishments, you know, successful statewide run candidates and lieutenant governor and the attorney general. So yeah, and South Carolina has proved itself, as Nicky Haley can tell you, to be very focused not only institutionally on the Republican Party, but also focused very solidly to keep on the rights to the proper side of Donald Trump. So you've got kind of two Trump like candidates endorsed candidates. One at
least that's a candidate already. You notice the people that the Trump disfavored are out.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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And I'm Nathan Hager.
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