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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 the latest from the Middle East. The US and Iran are showing little signs of progress in ceasefire talks after one of the worst bursts of violence in the region in weeks. President Trump says negotiations are in the final stages, but Iran's foreign minister says there's been no tangible progress. The President says time is on his side when you look.
At hundreds of thousands of soldiers were killed in these various wars. They lasted many, many years. We're in there for a few months, and what we've done is amazing.
President Trump spoke from the Oval Office. Meanwhile, Iran backed Hezbola has rejected a US broker ceasefire in Lebanon. Bloomberg'sabir abu Omar reports that's adding further complication to the peace process.
The hostilities between Israel and Hezbollah continue within the southern part to Lebanon, but also the northern parts in Israel. President Trump, on the other hand, has said that he did not see the rejection from Hezbollah, and as a matter of fact, he's been in touch with representatives who told the president that they wanted to have the cease fire.
Blomberg Sabira ba Omar reports Israeli strikes in Lebanon have killed at least eight people, according to the Lebanese Health Ministry. Israel says Hesbilla fired several rockets at its soldiers, but no one was hurt.
We have breaking news on Capitol Hill this morning. Nathan the Senator has passed a sixty nine and a half billion dollar bill that gives more than three years of funding to two immigration enforcement agencies. The measure passed fifty two to forty seven after a marathon vote that saw Democrats try to corner Republicans on politically tricky amendment votes. The bill passed the Senate after weeks and negotiations over funding for the Secret Service to secure President Trump's ballroom.
That money was ultimately dropped from the package, but drew rebuke from seven Republican senators. Republicans also stripped out funds for the Justice to Artment that got bogged down by concerns about a now defunct fund to compensate victims of alleged politically motivated prosecution.
Als Roun Capitol hillcreen. The House has approved a new round of aid to Ukraine and sanctions on Russia, in a backhanded rebuke of President Trump's foreign policy.
The eyes are two hundred and twenty six, the nays are one hundred and ninety five. The bill is passed without objection.
The motion reconsider is laid upon the table.
House Democrats forced to vote on the package through what's known as a discharge petition. That's a procedural tool that Republican leaders oppose. President Trump's raised questions about the cost of assisting Ukraine in its defense against Russia's invasion. That's put him at odds with moderate Republicans who signed the petition and joined with Democrats in advancing the bill.
Meanwhile, Nathan Ukrainian President Vladimir Zelenski is proposing direct peace talks with Russian leader of Vladimir Putin in an effort to end the war. He did so in a rare and combative open letter. Ben Sills is Bloomberg's managing editor for European Politics and Economy.
Not a letter which is going to persuade Putin to come to the negotiating table. The tone of it is so incredibly assertive. I read it last night when it dropped, and I was really quite struck by just how self confident Zelensky sounds, and how he's talking down to Putin. He's talking about how his drones hit St.
Petersburg yesterday, the day before Putin turns up. He's threatening to hit other Russian targets deep inside Russia. He's saying that he knows Putin is afraid of Ukraine's military potential, So that's no way to bring the negotiating table.
And Bloomberg's Ben sil says Zelenski is proposing a face to face meeting in a neutral country. A Russian spokesman says, if Zelenski wants to meet Putin, he can come to Moscow.
Well.
Turning back to Washington, now, Karen Federal Housing Finance Agency Director Bill Poulti has been named acting Director of National Intelligence, but President Trump says that appointment will be temporary. Bloomberg Zamy Morris reports from the nation's capital.
President Trump says FAJFA Bill Poulty will not become the permanent Director of National Intelligence.
He's not going to be permanent because you know, I don't think he'd want to be permanent. But he's a very smart guy, and he may find OUs some things about the rigged elections, et cetera, et cetera. But it's somebody just to take it over for a little while.
President Trump says they're interviewing people for that permanent position in Washington. Amy Morris, Bloomberg Radio.
All right, Amy, thank you. He turned to the markets for the S and P five hundred's historic weekly run agains is in jeopardy right now. The AI euphoria is fading as tech shares lead equity future is lower. Slide today would mean the S and P five hundred misses out on a tenth week of gains, which would have
been the longest such streak since nineteen eighty five. In Asia, South Korea's cosby the world's best performing engage this year, and a bell weather for AI investments dropped five and a half percent.
Well this morning, Karen, Investors are awaiting the jobs report for the month of May. It's expected to show an increase of eighty nine thousand non farm payrolls and an unchanged employment rate of four point three percent. San Francisco Fed President Mary Daily says there's too much uncertainty in the economy to offer a view on rare rates are headed. We spoke to Daily at the Bloomberg Tech Conference in San Francisco.
We are prepared to respond either way whatever the economy brings, but I think giving more forward guidance about what's possible could be misguiding in the end, because we just have to wait for the economy to evolve. Everybody wants to resolve the uncertainty today, but I think that's a mistake because it will close off our mind about what we really have to look at.
You catch our full interview with Mary Daily and others from the Bloomberg Tech Conference in San Francisco on the Bloomberg Business app and at Bloomberg dot com.
Well, Nathan, The roadshow continues as we're just days away from the mega IPO of SpaceX, and Bloomberg's John Tucker joins us with the latest. John, Good morning, Karen.
SpaceX set out it's IPO launch with a flashy video, short on detail at heavy on Elon Musk's vision for the future. Investors ate it up. Ron Barron has head of Baron Capital Management.
Well right now, we own almost twenty billion dollars of SpaceX, and we're buying another billion. I think we're going to make a lot of money for our clients and ourselves.
The investors emerging for the marketing event at JP Morgan's imposing headquarters on Park Avenue called it an epic event. The head of aon Capitol said SpaceX will be the most iconic company in human civilization. Mus spoke to his host Jamie Diamond about space travel vacations on the Moon and a Mars colony back on Earth. Some research analysts or are telling would be buyers their models show one hundred times revenue growth for SpaceX's AI division by the
end of the decade. That's to help justify the target evaluation of one point eight trillion dollars for investors emerging from the event, those numbers sounded entirely justified the share sales sent for next week in New York. I'm John Tucker Bloomberg Radio.
Well, John, don't expect SpaceX to join the S and P five hundred anytime soon. SMP down Jones Indicy says it will not shorten its twelve month seasoning period for newly public companies or waving existing profitability and public float
requirements based on a company's size. The decision means firms like SpaceX would not be eligible for inclusion in the S and P five hundred until at least one year after listing, and would also need to satisfy the index's existing requirements for profitability and public float.
Kan Nvidia has certified the three biggest memory chip makers to supply their most advanced high bandwidth products for its AI accelerators, their Samsung x k Heinins and Micron in Video CEO Jensen Wong spoke earlier in Seoul.
We are going to use a lot of high speed memory, and of course memory is constrained, and so we have to be smart about using it in all of our systems, and so we'll con in to work with our partners here to make sure that we support as much supply as possible, but use the supply as smartly as possible.
In Vidia CEO Jensen Wong, we'll have dinner with some of Korea's top business leaders Tony He plans to attend a baseball game over the weekend time now for look at their 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. They are still counting the votes from Tuesday's primary in the California governor's race, with an estimated sixty percent in Republican Steve Hilton still leads with twenty seven point two percent. Democrat javieerb Sera is second with twenty six percent of the vote. Fellow Democrat Tom Steyer is third with twenty point two percent. Under California rules, the top two finishers advanced from the primary,
regardless of party affiliation. President Donald Trump criticized California's ballot counting, accusing state Democrats of big cheating. As the vote count continues, I hope.
The media looks at this selection of the saking place in California, where they think it'll take seven or eight days to count the votes. Can you believe us? I mean, they spend all that money on the on the machines, the big voting machines.
President Trump didn't and evidence on his claims. The latest strain of the Ebola virus continues to spread in Congo. At least sixty two people are dead from three hundred and sixty three confirmed cases. However, who officials have worn the numbers might not reflect the true scale of the epidemic. On top of the knicks in the NBA Finals, Mayor Zorin Mamdanie and Governor Kathy Hokel say New York City
is ready to host Soccer's World Cup. The city is taking measures to accommodate the expected surge and visitors, including running additional subway trains and restricting traffic in certain areas on match days. Governor Hokele, we.
Can handle this.
We've got this.
This is what we do best.
And for those who are saying, you know, stay home from work kind of no, come to the city celebrate.
Otherwise you're missing the excitement.
And the energy.
Mayor Ben Donnie, we are ready for this moment because we are in New York. We know, as the Governor said, how to put on big events, from the Macy's Thanksgiving Day Parade to the NBA Finals. Let's go next to the UN General Assembly. We have done it before and we will do it again.
Officials are asking the public to be patient with crowd, security lines, and traffic. Meanwhile, Mayor mem Nani says he will be at Game three of the Knicks at Madison Square Gardener along with President Trump, who says that he was planning to attend Monday Night Global News twenty four hours a day and whenever you want it with the Bloomberg News.
Now.
I'm Michael Barr, and this is Bloomberg Karen.
Well, thanks Michael.
A time now for our Bloomberg Sports update, and for that we bring in John stash Hour.
Thanks Darren.
Are back to forth Denley Cup Final Game two in Raleigh, Carolina. Roulling to take the lead, Vegas scored lated regulation to force overtime. The Hurricane score they won four to three. In the series is tied a one. The NIXT bring their twelve game playoff winning streak into Game two of the NBA Finals tonight in San Antonio, looking to go
home with the two nothing series lead. Men's Semifinals at the French Open, alex Zaverro takes on Jaco Mensik and then a battle of Italians with Tria, Matteo Arnaldi and Flabio Kobali. That to Bloomberg's worth fifty.
Stay with us.
More from Bloomberg Daybreak 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.
Good morning.
I'm Nathan Hager. The US and Iran may be in a holding pattern now close to two months into their ceasefire that has seen some of its heaviest tests this week. But President Trump is urging patients, We're.
Going to win on paper or we're going to win military. One way or the other. It's going to be militarily or on paper.
Well, that was President Trump speaking to reporters in the Oval Office. Joining us this morning from Dubai is Bloomberg Middle East correspondent to Birabu omar Abir. Where do things stand this morning?
Good morning, Good morning, Nathan. So look, the latest from overnight is has Bulah, that is the militia that is backed by Iran in southern Lebanon as rejected the deal that was reached between Libanese officials and Israeli counterparts in Washington earlier this week. Now from the get go, Hasbella refused to take an active part in those negotiations. It's chief this morning nine class ims, saying that the deal was absurd, and he does not acknowledge it as long
as Israel continues its attacks against southern Lebanon. Now, we've reported earlier this week now that Israel has its deepest incursion in Lebanon since twenty that's twenty five years almost Nathan and so Hesbela refuses to acknowledge the deal that
happened between the Libanese government and Israeli counterparts. On the other hand, you've got President Trump saying that the talks to reach an MoU that has been what we've been calling it, which is the interim deal to sort of reopen the strait of her moves and then extend the ceasefire we're talking about for about sixty days to then talk about other concessions. He says that this MOLU is in final stages, that he's talking to Hezbalah representatives who
actually have accepted the deal. But then you get the Iranian side, and Foreign Minister Abbasara actually said, actually talks have stalled and there's no tangible progress in them. Now, Iran has made Lebanon an important sticking point to its concessions. That's on top of its enriched uranium, on top of the frozen assets twelve billion dollars of those, and oil sanctions. So those are the sticking points that we know about
Lebanon emerging over the past couple of weeks. As one important one, Iran saying that if hostilities in Lebanon continue by Israel, the deal is not going to go through and negotiations are not going to go through. Meanwhile, we're seeing firing across the region. Earlier this week we saw attacks against Kuwait, where Kuwait reported one person was killed in its airport, several others injured. It actually halted flights as well because of some significant damage to the infrastructure there.
So we're seeing a pickup in hostilities since the ceasefire was reached in early April. The talks not going anywhere for now, unlike what President Trump has been suggesting. And meanwhile, the strait of her moves remains effectively shut. Oil price is not really knowing what to do with all this back and forth, so you're not seeing Brent ticking up in a tremendous way as it would have at the start of this war.
Nathan just thirty seconds left here of beer. But what potentially breaks the logjam is the status of Lebanon the central focal point now.
Short answer, yes, Lebanon. Lebanese officials and Iranian officials have asked for hostilities in Lebanon to seize, and that would bring them back to the table. That's on top of the other concessions that we've spoken about. But we understand that a deal on those other concessions could be reached or some understanding on them could be reached after the MoU Is signed. Essentially, Iran says no Mlu signing unless the attacks against Lebanon stock.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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