Bloomberg Audio Studios, podcasts,

radio, news.

>> Good morning. I'm Nathan Hager

>> and I'm John Tucker. Here are the

stories we're following today.

>> All right, John. Thank you. The war with

Iran is now into its 11th day, but

President Trump is signaling it could be

over very soon. At a news conference

from his resort in Dal, Florida, the

president said the conflict might not

end this week, but it is going ahead of

schedule.

doing really well. I mean, at a level

that nobody thought. We took a little

excursion because we felt we had to do

that to get rid of some evil. And uh I

think you'll see it's going to be a

short-term excursion.

>> President Trump says the US has hit

5,000 targets in Iran. He says its

military capacity is down to 10% and

drone launches have decreased 83%. He's

promising to bring oil prices down that

he says have gone artificially up

because of the excursion. We get more

from Bloomberg's Jumanna Bureti in

Dubai.

>> Clearly, what has happened here is he is

responding to global markets and the

impact that the energy shock is

beginning to have on some of these

global energy markets and obviously

ultimately the US consumer here. And he

also made another very strong threat to

the IRGC saying that if they continue to

block oil transportation through the

straits, they will be hit by the United

States 20 times harder than they have

been hit thus far. Linberg's Jamaichi

reports. The president says he's

discussed waving some oil related

sanctions in a call with Russian

President Vladimir Putin and he's

considering other options to bring oil

and gas prices down, including releases

from emergency stockpiles and a pause on

federal gas taxes. In the meantime,

blasts continue to be heard across Iran,

Saudi Arabia, and Bahrain have been

dealing with incoming projectiles

overnight. And Turkey says NATO is

deploying a US-made Patriot missile

defense system to its south. That's

after the alliance intercepted two

Iranian missiles over Turkish airspace

in recent days.

>> And the price of oil continues to drop

following the president's comments on

the war. As Bloomberg's Will Kennedy

reports, it was quite an historic day in

the energy markets.

>> It was a wild day in oil markets

yesterday. It was the biggest uh fall

from the intraday peak to the close that

the market's ever seen. More than $30.

Pretty extraordinary trading. Yes, the

market's calmer. They heard what they

wanted to hear from the president, which

is that he sees an end to the war in a

relatively short time. And if that

happens, it would allow the oil market

to return to normal. And Bloomberg's

Will Kelly says the intense swings on

Monday saw Brent trade in a band of

about $36. That is the most on record in

the widest range since Russia invaded

Ukraine in 2022.

>> Now, we also call saw quite the

turnaround in the equity markets, John.

The S&P 500 was down as much as 1 and

a.5% but it closed higher by 8/10en of

1% and the Nasdaq rose 1.4%.

Cameron Dawson, chief investment officer

at New Edge Wealth though, is still

cautious.

>> I think that we might be a little bit

early for opportunities. Again, we get

back to those technicals where we see

flush metrics of things being sold too

far too fast and discriminate selling.

There's going to be great buying

opportunities that come out of this, but

we're not seeing those measures flash

the warning signs yet that sec that that

suggest that you should back up the

truck.

>> It's New Edge Wealth's Cameron Dawson.

Yesterday, the SIBO volatility index,

the so-called fear gauge for Wall

Street, tumbled 13% after reaching its

highest level since last April. And

Nathan, let's turn to politics. Uh, a

couple of critical primaries in the Deep

South today. This where voters are going

to choose nominees to represent

Mississippi in Congress. And in Georgia,

voters are going to decide who's going

to succeed former Representative

Marjgerie Taylor Green. Bloomberg's Amy

Morris reports from Washington.

>> In Georgia, more than 15 candidates are

running in the special election for

Representative Green's seat, rated as

the most Republican leaning in Georgia

by the Cook Political Report. Most of

the contenders are Republicans, but Klay

Fuller won President Trump's

endorsement. Democrats are looking to

retired Army General Shawn Harris, who

won the nomination in 2024. In

Mississippi, Republican Senator Cindy

Hyde Smith, faces a primary challenge

from physician and novelist Sarah

Adlaka. Representative Benny Thompson,

the delegation's only Democrat, faces

two primary challengers in his bid for

an 18th term. In Washington, Amy Morris,

Bloomberg Radio.

>> Amy, thank you. The highstakes battle

between Anthropic and the US government

continues this morning. The artificial

intelligence giant is suing the defense

department for declaring the company a

risk to the US supply chain and shifting

its AI work to other providers. Seth

Figerman is covering the story for

Bloomberg.

>> What we're hearing from Anthropic here

in a statement is they're taking this

step to protect their customers and

their business. At the same time though,

they're telling us that they intend to

pursue all avenues here to uh try to

mediate this relationship with the

government, including direct

conversation with uh the government. So,

they're not foreclosing the continuation

of talks here, but they are still

pursuing litigation.

>> Boomberg. Seth Figerman says the dispute

erupted last month after the Pentagon

wanted to use Anthropic's clawed chatbot

for any purpose within legal limits and

without any usage restrictions.

Anthropics insisted its chatbot not be

used for mass surveillance against

Americans or in fully autonomous weapons

operations.

>> And President Trump's nominee to become

the new chairman of the Federal Reserve

will be meeting with senators possibly

as early as today to see their support.

We get more from Bloomberg's Tom Busby.

>> Finance here and former Fed Governor

Kevin Walsh going on a charm offensive

with US senators this week ahead of his

expected hearing and his mission to

replace Jerome Pal as head of the

nation's central bank. Pal's term ends

in May. Now, one senator on the dance

card is Tom Tillis, Republican of North

Carolina, who said he likes Worsh in

that position, but opposes any

nomination hearing until the Justice

Department ends its investigation into

the Fed's $2.5 billion renovation of its

headquarters, saying it puts

inappropriate pressure on Powell to

lower interest rates. Tom Busby,

Bloomberg Radio.

>> Okay, Tom, thank you. Jet Blue flights

are resuming this morning. That's after

the Federal Aviation Administration said

a nationwide ground stop that the

airline requested had been cancelled.

The airline had suffered a system

outage. Flights were halted for about an

hour.

>> And FedEx has eclipsed UPS is the

largest US parcel carrier by market

value for the first time ever. The

milestone punctuates a multi-year stock

for the 119year-old UPS, which has faced

pressure from labor costs, declining

volume, and questions about its

relationship with Amazon. And a program

note, John, markets may close on

Fridays, but the world doesn't. That's

why we're bringing you a new live radio

and TV show. It's called Bloomberg This

Weekend and looks beyond the daily

headlines to the bigger themes driving

politics, business, and culture. Join

David Gura, Christina Rafini, and Lisa

Matteo for smart conversations and

in-depth interviews that help make sense

of the week that's been and what comes

next. Get Bloomberg This Weekend live

Saturdays and Sundays from 7 a.m.

Eastern on Bloomberg radio, Bloomberg

television, and the Bloomberg Business

App.

And that brings us to 508 of Wall

Street. 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 Bar.

Michael, good morning.

>> Good morning, John. And investigators

are trying to learn more about two young

Pennsylvania men accused of bringing

homemade bombs to a protest outside the

home of New York City's mayor. Amir Blad

and Ibrahim Caillumi allegedly told

authorities after their arrest that they

were inspired by ISIS. NYPD Commissioner

Jessica Tish. On route to the NYPD

precinct, Balot made spontaneous

statements without being questioned by

NYPD officers that were captured on

bodywn camera footage. She said, "This

isn't a religion that just stands when

people talk about the blessed name of

the prophet. We take action. We take

action."

>> Mayor Zoran Mdane said, "Everyone has

the right to peaceful protest, but

violence won't be tolerated. Anyone who

comes to New York City to bring violence

to our streets will be held accountable

in accordance with the law.

>> Bot's lawyer said his client is a high

school senior with a complicated

personal life and that he doesn't know

what he's doing. Three brothers,

including two prominent luxury real

estate brokers in New York City, have

been convicted of conspiring to drug and

rape multiple women. Jurors returned

guilty verdicts on 19 counts after a

five-week trial that included testimony

from 11 women who said they were

assaulted by one or more of the

Alexander brothers or Tal and Alan.

Defense attorney Mark Agnafilo says the

verdict will be appealed.

>> We believe in our clients innocence and

we're not going to stop fighting until

we prevail and we believe that we will

one day prevail. The women described

they were attacked after they were

invited to vacation loces, including the

Hamptons. The president of Ohio State

has resigned. Under Ted Carter's

leadership, OSU has stopped all DEI

efforts and cracked down on student

protests against the Israel Hamas war.

Now, Carter has told the Ohio State

trustees that he had an inappropriate

relationship with a woman looking for

public resources to support her personal

business. Global news 24 hours a day and

whenever you want it with the Bloomberg

News now. I'm Michael Lubar and this is

Bloomberg.

>> Thanks Michael. Time now for a Bloomberg

sports update. For that we bring in John

Stash Hour. The start of NFL free agency

and the Miami Dolphins released their

quarterback to a Tanga. He then signed

with Atlanta and the Dolphins replaced

him with Malik Willis who was the backup

QB in Green Bay. Mike Evans after 12

years with Tampa Bay signed with the

49ers. Tyler Lindenbound, a three-time

Pro Bowl center in Baltimore, signed

with Las Vegas. And Kenneth Walker, who

was the Super Bowl MVP with Seattle, is

off to Kansas City. Team USA with a 5-3

win over Mexico at the World Baseball

Classic. That's your Bloomberg Sports

Update.

Stay with us. More from Bloomberg

Daybreak coming up after this.

Coast to coast on Bloomberg Radio,

nationwide on SiriusXM, and around the

world on Bloomberg.com and the Bloomberg

Business app. This is Bloomberg

Daybreak.

>> Good morning. I'm Nathan Hager. Now,

until the 11th day of the war in the

Middle East, President Trump is sending

a signal to Americans and markets that

the conflict with Iran could be over

very soon. We're putting an end to all

of this threat once and for all and the

result will be lower oil prices, oil and

gas prices for American families.

>> Was President Trump speaking at a news

conference in Dorado, Florida. Joining

us this morning from Jerusalem is

Bloomberg News reporter Dan Williams.

Dan, good morning. From where you sit,

does it look like the war could be over

very soon?

>> It feels like it's waiting. Then again,

keep in mind that Israel, unlike um US

forces in the Gulf, unlike many Gulf

Arab powers, is a good distance away

from Iran. Therefore, naturally, there's

been a tapering off of long-distance

Iranian fire against Israel as the

Iranian arsenal has either been spent or

cut down by USIsraeli air strikes. So,

there are fewer sirens, fewer calls to

shelter. Israel is slowly reopening its

economy. Kids aren't going back to

school yet and indeed emergency measures

on the home front have been extended

through Friday which indicates there

won't be a full return to normaly.

However, um aviation is resuming

gradually but nonetheless it appears

that things will be back to normal in

terms of civilian flights. There is a

separate front that Israel is dealing

with in Lebanon with Hezbollah which is

traditionally the Iranian cat a major

guerilla ally of Iran. But even there

there's been a mixed message from Israel

as to whether um we might see escalation

or some sort of accommodation there in

the Gulf as well especially in UAE which

has borne the brunt of Iranian uh

strikes they're reporting a drop off in

those attacks from Iran. So it would

appear that when the president speaks of

having eliminated the Iranian threat

when it comes to the arsenal he would

appear to be correct. That appears to be

the case on the ground. The wider

questions is whether um a a fatal blow

has been dealt to the Iranian nuclear

program which appears to have been

reconstituted to a degree or at least

with the Iranians retaining those uh

stocks of highlyenriched uranium that

they had last year after the previous

round of USIsraeli attacks on Iran and

also the wider question of what the

future holds for Iran should the

shooting war end in terms of leadership.

It would appear that the regime is still

in place, is still holding firm and the

Israeli US hope that through these

attacks they've created enough of a

space, enough of a vacuum so that the

opposition could come in and topple that

regime or replace it. We may not be

there quite yet.

>> Well, raises a question as well of what

kind of opposition there is in Iran

after the appointment of the late

Supreme Leader Hame son Motaba as the

new Supreme Leader. We've heard some

comments from Iranian leaders

apologizing for strikes on neighboring

countries and at the same time uh vowing

to continue fights against the US and

Israel. What does that tell us about

where things could go, Dan, in our last

minute

>> that the Iranian regime is still in the

fight uh publicly and in terms of what

remaining firepower it has. I would

suggest that you would have to be a

hardliner in order to take the reigns

there given that you've already been

threatened by death by the Israelis and

similar signals from the US. The

question is what the coming days hold in

terms of what even uh the the American

president said could be a last round of

very punishing, very damaging strikes on

Iran if indeed we're on the way to

seeing this shooting war winding up.

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. Join us again

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Bloomberg Daybreak.