Your morning briefing. The news you need in just 15 minutes. On today's podcast:

1) Nvidia Drops on Report US Plans More AI Chip Curbs for China
2) UBS Preparing to Cut More Than Half of Credit Suisse Workforce
3) NY Skies Set to Darken Again With Smoke From Canada Fires

Your morning briefing. The news you need in just 15 minutes. On today's podcast: 1) Nvidia Drops on Report US Plans More AI Chip Curbs for China 2) UBS Preparing to Cut More Than Half of Credit Suisse Workforce 3) NY Skies Set to Darken Again With Smoke From Canada Fires

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Bloomberg Daybreak: US Edition

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Chip Stocks Fall on Possible China Curbs; NY Skies Set to Darken Again

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8017f1ca-1407-4a4a-b133-b02f009d2b04/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran said it had reached an agreement with Oman on a proposed route for shipping through the Strait of Hormuz, a potential step toward a reopening of the critical waterway for energy supplies. A joint statement from Tehran and Muscat is under review and in the final drafting stage, with Iranian Foreign Ministry spokesman Esmail Baghaei saying negotiations between the two countries are “forward-moving” and a deal would be struck “if certain third parties do not obstruct this process." Iranian Deputy Foreign Minister Kazem Gharibabadi said Iran and Oman are negotiating a “temporary route” that would remain active for two to four months, with a significant portion of traffic passing through the Islamic Republic’s territorial waters.
2) President Trump denied the US was running low on munitions, saying the country has “massive amounts” of them. Trump warned of punishment for those who say there’s a shortage, saying “leakers” of supposed “treasonous statements” are being pursued. The Pentagon’s request for emergency funding includes money to replace the US’s most advanced Patriot interceptors and other systems, amid concerns about weapons stockpiles.
3) President accused Michigan Democrat Abdul El-Sayed of being a “communist” who “hates” Jews and Israel. El-Sayed has accused the Israeli government of carrying out a “genocide” during its war in Gaza, supports cutting off aid to Israel and has questioned its right to exist as a Jewish state. Trump said El-Sayed’s brand of politics would bring “filth, crime, death, destruction, embarrassment” and that El-Sayed is a “man of hate."

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Iran said it had reached an agreement with Oman on a proposed route for shipping through the Strait of Hormuz, a potential step toward a reopening of the critical waterway for energy supplies. A joint statement from Tehran and Muscat is under review and in the final drafting stage, with Iranian Foreign Ministry spokesman Esmail Baghaei saying negotiations between the two countries are &ldquo;forward-moving&rdquo; and a deal would be struck &ldquo;if certain third parties do not obstruct this process." Iranian Deputy Foreign Minister Kazem Gharibabadi said Iran and Oman are negotiating a &ldquo;temporary route&rdquo; that would remain active for two to four months, with a significant portion of traffic passing through the Islamic Republic&rsquo;s territorial waters. 2) President Trump denied the US was running low on munitions, saying the country has &ldquo;massive amounts&rdquo; of them. Trump warned of punishment for those who say there&rsquo;s a shortage, saying &ldquo;leakers&rdquo; of supposed &ldquo;treasonous statements&rdquo; are being pursued. The Pentagon&rsquo;s request for emergency funding includes money to replace the US&rsquo;s most advanced Patriot interceptors and other systems, amid concerns about weapons stockpiles. 3) President accused Michigan Democrat Abdul El-Sayed of being a &ldquo;communist&rdquo; who &ldquo;hates&rdquo; Jews and Israel. El-Sayed has accused the Israeli government of carrying out a &ldquo;genocide&rdquo; during its war in Gaza, supports cutting off aid to Israel and has questioned its right to exist as a Jewish state. Trump said El-Sayed&rsquo;s brand of politics would bring &ldquo;filth, crime, death, destruction, embarrassment&rdquo; and that El-Sayed is a &ldquo;man of hate."

Iran-Oman Hormuz Agreement; Trump Threatens Munitions Leakers

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/646d3f4a-8d7a-4e5d-aac7-b49e009eae0f/transcript

Today's top stories, with context, in just 15 minutes.  

On today's podcast:  

1) Abdul El-Sayed is projected to win the Democratic US Senate primary in Michigan, according to NBC, defeating Representative Haley Stevens. El-Sayed will face off against Republican Mike Rogers in the general election. Polls had forecast El-Sayed with as much as a double-digit lead over Stevens. Even with the narrower-than-projected result, El-Sayed’s win portends both a reckoning within the Democratic Party as well as smouldering ideological fissures with the Nov. 3 election looming. The 2026 Democratic primary season has been marked by the intra-party squabble between centrists and progressives over the party’s direction.  

2) Oil erased a decline as Yemen's Houthi militant group issued a fresh threat against Middle East shipping, tempering optimism over US-Iran talks. Houthi spokesperson Yahya Saree said the group would escalate attacks on Saudi vessels in the northern Red Sea — a key workaround route during disruption in the Strait of Hormuz. It comes as the prospect of an interim deal focused on the Strait of Hormuz gained traction after Qatar said a proposal had been drafted and both American and Iranian officials sounded hopeful about reopening the crucial waterway.  

3) SpaceX stock fell after it disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts. SpaceX reported revenue of $7.8 billion, greater than the $6.81 billion analysts estimated on average, and said it lost 9 cents a share for the quarter, less than the 24-cent loss analysts forecast. Musk told analysts that he expects the cadence of AI development to improve dramatically and that SpaceX would reach a $100 billion annual run-rate revenue by year’s end, which is higher than the $38.6 billion forecast by analysts.

Today's top stories, with context, in just 15 minutes.&nbsp;&nbsp; On today's podcast:&nbsp;&nbsp; 1) Abdul El-Sayed is projected to win the Democratic US Senate primary in Michigan, according to NBC, defeating Representative Haley Stevens. El-Sayed will face off against Republican Mike Rogers in the general election. Polls had forecast El-Sayed with as much as a double-digit lead over Stevens. Even with the narrower-than-projected result, El-Sayed&rsquo;s win portends both a reckoning within the Democratic Party as well as smouldering ideological fissures with the Nov. 3 election looming. The 2026 Democratic primary season has been marked by the intra-party squabble between centrists and progressives over the party&rsquo;s direction.&nbsp;&nbsp; 2) Oil erased a decline as Yemen's Houthi militant group issued a fresh threat against Middle East shipping, tempering optimism over US-Iran talks. Houthi spokesperson Yahya Saree said the group would escalate attacks on Saudi vessels in the northern Red Sea &mdash; a key workaround route during disruption in the Strait of Hormuz. It comes as the prospect of an interim deal focused on the Strait of Hormuz gained traction after Qatar said a proposal had been drafted and both American and Iranian officials sounded hopeful about reopening the crucial waterway.&nbsp;&nbsp; 3) SpaceX stock fell after it disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts. SpaceX reported revenue of $7.8 billion, greater than the $6.81 billion analysts estimated on average, and said it lost 9 cents a share for the quarter, less than the 24-cent loss analysts forecast. Musk told analysts that he expects the cadence of AI development to improve dramatically and that SpaceX would reach a $100 billion annual run-rate revenue by year&rsquo;s end, which is higher than the $38.6 billion forecast by analysts.

Progressive El-Sayed Projected to Win Primary; Houthi Threat amid Hormuz Talks

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4b09ebeb-c2b8-4207-91d5-b49d00a1d93d/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Oil rose after its biggest drop in a week, as President Trump said his latest offer of talks is Tehran’s “last chance” and that he expects a full reopening of the Strait of Hormuz. Tehran denied it was talking with the US, but said discussions with Oman to get more ships moving through Hormuz are making progress, with an adviser to Iran’s Supreme Leader saying Washington must “take the first step and change its behavior." Commodity flows through the Strait of Hormuz have slowed to a trickle, with a cargo vessel northeast of Al Khasab, Oman, broadcasting that it had been hit by an unknown projectile on Monday.
2) Acting Attorney General Todd Blanche shared documents on social media that seemed to clear a major hurdle to the top job, but drew skeptical reactions from former Justice Department officials and administration critics. The documents addressed concerns about a $1.8 billion fund for alleged victims of government “weaponization” and immunity for President Trump, his family members and the Trump Organization from audits of past tax filings, but the original documents that sparked bipartisan outrage remain unchanged. Critics say the latest documents do not have much permanent legal effect and that the door is open for officials, Trump, or others in his orbit to try to enforce the terms in the future.
3) Michigan's Senate primary today will serve as a litmus test of whether the Democrats' progressive wing can win in a presidential battleground state. The primary pits Representative Haley Stevens, a moderate, against progressive Abdul El-Sayed, with Black voters being central to the case. A win by El-Sayed would vault him into national prominence, but a defeat would spark questions about whether progressives can win outside of deeply Democratic areas.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Oil rose after its biggest drop in a week, as President Trump said his latest offer of talks is Tehran&rsquo;s &ldquo;last chance&rdquo; and that he expects a full reopening of the Strait of Hormuz. Tehran denied it was talking with the US, but said discussions with Oman to get more ships moving through Hormuz are making progress, with an adviser to Iran&rsquo;s Supreme Leader saying Washington must &ldquo;take the first step and change its behavior." Commodity flows through the Strait of Hormuz have slowed to a trickle, with a cargo vessel northeast of Al Khasab, Oman, broadcasting that it had been hit by an unknown projectile on Monday. 2) Acting Attorney General Todd Blanche shared documents on social media that seemed to clear a major hurdle to the top job, but drew skeptical reactions from former Justice Department officials and administration critics. The documents addressed concerns about a $1.8 billion fund for alleged victims of government &ldquo;weaponization&rdquo; and immunity for President Trump, his family members and the Trump Organization from audits of past tax filings, but the original documents that sparked bipartisan outrage remain unchanged. Critics say the latest documents do not have much permanent legal effect and that the door is open for officials, Trump, or others in his orbit to try to enforce the terms in the future. 3) Michigan's Senate primary today will serve as a litmus test of whether the Democrats' progressive wing can win in a presidential battleground state. The primary pits Representative Haley Stevens, a moderate, against progressive Abdul El-Sayed, with Black voters being central to the case. A win by El-Sayed would vault him into national prominence, but a defeat would spark questions about whether progressives can win outside of deeply Democratic areas.

Trump Promises "Last Chance" for Iran; Michigan's Primary Progressive Test

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/22e3c8eb-6b5b-4e2c-b3fb-b49c009e8612/transcript

Chip Stocks Fall on Possible China Curbs; NY Skies Set to Darken Again

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