CDC Announces 2 Cyclosporiasis Deaths, Blanche Closer to Confirmation, More

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Bloomberg News Now 7 min 6 speakers 6 chapters transcribed 1 month ago
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What is the main topic discussed in this episode?

Jennifer Zabasaja 0:00
A new chapter in global growth is being written and much of it is happening in Africa. Africans need to invest. There are deals to be done and business to be won. I'm Jennifer Zabasaja. Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future.
Sam Fazelli 0:17
The digitalization of Africa is going to power its growth.
Jennifer Zabasaja 0:20
Creating the world of something like HIV is possible.
Sam Fazelli 0:22
Population growth is so enormous in Africa.
Jennifer Zabasaja 0:25
Listen to Next Africa on Apple, Spotify or wherever you get your podcasts.
Amy Morris 0:30
News when you want it with Bloomberg News Now, I'm Amy Morris. The CDC says it is aware of two cyclosporiasis-related deaths in people with underlying health conditions from Michigan. It's part of an ongoing outbreak. Yum! brands and Sweetgreen shares turned negative. Yum! shares nearly 2% lower. Sweetgreen shares 5.5% lower. Michigan's Department of Health and Human Services says more than 11,000 people in Michigan have been infected with nearly 200 hospitalized. At least nine states are dealing with similar outbreaks. Last month, Taylor Farms recalled all iceberg lettuce sourced from central Mexico. Republican Senators John Cornyn and Tom Tillis will vote to confirm Todd Blanch as Attorney General.
Amy Morris 1:13
Their offices made the announcement in a press release. Earlier, Blanch announced he is formally rescinding an order creating an anti-weaponization fund that would have paid $1.8 billion to President Trump's allies. He also clarified the scope of the president's sweeping immunity deal with the IRS. Senate Judiciary Committee Chair Chuck Grassley has now rescheduled a vote for tomorrow. U.S. and Japanese officials are warning investors that they are determined to keep defending the yen after their first joint intervention in 15 years. Treasury Secretary Scott Besant publicly vowed that the U.S., quote, will not hesitate to wade back into the market if necessary. And Japanese Finance Minister Satsuki Katayama confirmed their joint campaign.
Amy Morris 1:57
Speculation is emerging of further joint moves, with expectations rising for the Fed and the Bank of Japan to raise interest rates in September. IBM Vice Chairman Gary Cohn says the market became addicted to knowing what the Fed was going to do. He says even with volatility, consumers are still spending.
Unknown 2:14
There's an enormous amount of instability in the market.

What breaking public-health news does the CDC report about cyclosporiasis deaths?

Unknown 2:18
At the same time, rates are going up. But the consumer, we know the consumer continues to spend, spend and spend. So even when you look at the GDP numbers, the strongest pieces in there are the consumer spending.
Amy Morris 2:30
Hear more from IBM Vice Chairman Gary Cohn on the Bloomberg Talks podcast. American manufacturers grew in July at the fastest pace in more than four years, but they're also dealing with supply shortages and inflation as factories face longer lead times on supplier deliveries and rising prices for raw materials. Bloomberg's Michael McKee.
Mike (Michael) McKee 2:51
The overall ISM number is at 55.6 from 53.3, so some improvement there. New orders are up as well, 56.7 from 56, and the employment index crosses into positive territory, 52.8 from 49.7. So overall, it looks...
Amy Morris 3:09
sort of like a better report. Bloomberg's Mike McKee says to keep in mind those numbers are from July when peace talks with Iran were underway, which could explain the modest improvement in prices paid in the manufacturing outlook. Oil prices are easing, helping to calm Wall Street's worries that inflation could get worse, and U.S. stock indexes are rising. We check markets for you all day long here at Bloomberg. The S&P 500 is up 1.2%, NASDAQ up 1.8%, the Dow a little higher than 1%, the Russell 2000 Index at 1.4%, the 10-year Treasury yield at 4.68%, the 2-year yield at 4.25%, WTI near $80 a barrel, and Brent Crude topping $84 a barrel. The Philadelphia Semiconductor Index is a tenth of a percent lower, led by monolithic power, which is down nearly 8%.
Amy Morris 3:58
Amazon surpassed $3 trillion in market value for the first time, becoming only the fifth company to ever reach that milestone.

How widespread is the cyclosporiasis outbreak and which states are affected?

Amy Morris 4:06
Amazon shares more than 5% higher.

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