Iran Defends Nuclear Program, Washington Prepares for Xi, More
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Why is Iran’s president defending its nuclear program at the UN?
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News when you want it with Bloomberg News Now. I'm Nathan Hager. Iran's president is defending his country's right to develop its nuclear program, but insists he has no interest in nuclear weapons. Massoud Pazeshkin addressed the U.N. General Assembly this morning, a day after President Trump threatened annihilation if Iran doesn't reach a deal.
We will not bow
our
heads and give up
the right that
is inherently
ours. We say it clearly. No
nuclear
weapons
and no
limitations to peaceful
nuclear technology.
What did Secretary of State Marco Rubio say about Iran’s recent actions and a possible deal?
Speaking through an interpreter, President Pozeshkin called out President Trump by name and said he doesn't understand the country he's trying to bully. Secretary of State Marco Rubio says Iran fired at a commercial ship this morning. He says any deal with Iran will take hard work and time. Rubio's comments come a day after both the U.S. and Iran held their first indirect talks in months on the U.N. sidelines. Bloomberg's Tyler Kendall has more from New York.
We heard from Iranian state media earlier that most of the demands from the country remain basically what we've been tracking at this point for months, including that the U.S. would lift its naval blockade, which the White House has repeatedly maintained. At this point, especially with the closure of the strait, that's a non-starter.
Bloomberg's Tyler Kendall reports President Trump called the three-hour session very productive and said another one will happen in the near future. Right now, stocks are moving lower.
How are U.S. stock indexes and oil prices reacting to the latest geopolitical news?
The S&P 500 is down six-tenths of 1%. The Dow Jones Industrial Average a half percent lower. The Nasdaq Composite's down nine-tenths of 1%. Crude oil is surging, breaking a five-day losing streak with Brent up nearly 3.5%, trading above $102 a barrel. West Texas Intermediate is above $92. That is a gain of more than 2%. Treasury Secretary Scott Besson says he's meeting today with Chinese Vice Premier He Li-Feng. He says they're discussing, quote, unfinished business from Sunday. As Chinese President Xi Jinping makes his way to Washington for his first state visit in more than a decade, Bloomberg's Bill Ferrys reports the pageantry could mask some tough, lingering issues.
I think the U.S. side would love to get some more clarity and agreement about Chinese exports of those rare earth materials. magnets that are so important in a lot of high-tech products and a lot of American weaponry.
What are the key issues behind Chinese President Xi’s upcoming state visit to Washington?
The Chinese would just like to keep things as stable as possible on the trade front.
Bloomberg's Bill Ferrys reports President Trump will greet President Xi and his wife on the tarmac tonight and honor no U.S. presidents afforded a Chinese leader in recent memory. Back at the U.N., President Trump's Board of Peace has announced a nearly $2.5 billion recovery plan for Gaza. The funds make up a fraction of the $71 billion the board has said is needed to rebuild the devastated Palestinian territory. The blueprint envisions 66 projects over six months, including temporary housing, clearing rubble, and repairing hospitals and other infrastructure. The FBI is investigating an apparent breach of its jobs website. A criminal hacking group known as Shiny Hunters has claimed to have accessed, quote, very sensitive data on nearly every FBI agent and job applicant.
As of this morning, FBIjobs.gov is still offline. Turning back to the market, Treasury yields are rising across the curve on some strong economic data. S&P Global's gauge of business activity hit a more than five-year high this month on robust demand for new orders and workers. It's adding to bets all that growth could stoke inflation and force the Fed to act.
How is the U.S. planning to fund Gaza’s reconstruction after the recent conflict?
Right now, the 10-year yield is up nearly 12 basis points at close to 5.08%. The policy-sensitive two-year is at 4.87%. That's a gain of nearly 12 basis points.
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Chapters
7 chapters
1
Why is Iran’s president defending its nuclear program at the UN?
0:00–0:54
2
What did Secretary of State Marco Rubio say about Iran’s recent actions and a possible deal?
0:54–1:44
3
How are U.S. stock indexes and oil prices reacting to the latest geopolitical news?
1:44–2:39
4
What are the key issues behind Chinese President Xi’s upcoming state visit to Washington?
2:39–3:48
5
How is the U.S. planning to fund Gaza’s reconstruction after the recent conflict?
3:48–4:48
6
What details have emerged about the FBI jobs‑website breach by the Shiny Hunters group?
4:48–5:51
7
Why are Fed officials signaling more rate hikes while Treasury yields climb?
5:51–6:51
Speakers
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