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Chapter 1: What were the results of the recent primary elections in New York?
Hi, I'm David Weston.
News when you want it with Bloomberg News Now. I'm Karen Moscow. It is the morning after primary night in three states plus a runoff election in South Carolina. We start in New York where congressional candidates backed by Mayor Zoran Mamdani swept to victory. Former city controller Brad Lander defeated two-term congressman Dan Goldman 66 to 34 percent.
I will always endeavor to listen to you thoughtfully and to represent you and everyone else in this incredible district with great care.
Brad Lander, in his victory speech last night, two other Mamdani-backed candidates won as well. Activist Daria Lisa Avila Chevalier beat incumbent Democrat Adriano Espaya at 49 to 46 percent. Clara Valdez defeated Antonio Reynoso in the race to succeed retiring Congresswoman Nydia Velazquez 56 to 36 percent.
Mamdani did not endorse a candidate in the crowded field for retiring Congressman Jerry Nadler's seat. Michael Lasher won that race with 39 percent of the vote. He was backed by Michael Bloomberg, founder and majority owner of Bloomberg LP. In Maryland, Governor Wes Moore easily won his Democratic primary in a race for a second term.
He'll face a rematch in November against Dan Cox, who lost to Moore in 2022.
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Chapter 2: How did Mamdani-backed candidates perform in the primaries?
Cox won the GOP primary with 45 percent of the vote in the crowded race for retiring former House Democratic leader Steny Hoyer's seat. Hoyer's former aide, Adrienne Boafo, won with 32 percent of the vote.
And in an expensive Democratic primary in Maryland's 6th District, incumbent April McLean Delaney held off a challenge from the man she succeeded four years ago, David Schroen, 44 to 37 percent. In the South Carolina Republican runoff, Governor Alan Wilson ran way past Pamela Yvette after she led the primary two weeks ago. Wilson took 69% of the vote to Yvette's 31%.
President Trump endorsed Yvette in the primary, but backed both candidates this time. And in Utah's redrawn 1st Congressional District, former Congressman Ben McAdams beat three progressive candidates with 56% of the vote. Democrats are hoping for a rare pickup in that district in November.
ABC News reporting that the former chief of staff to ex-New York City Mayor Eric Adams is under arrest as part of a federal bribery probe. The exact charges are not known. Frank Carone and his brother are expected to be arraigned today. Now to the latest in the Middle East, and President Trump is defending his deal with Iran as he faces growing domestic pressure over his approach.
Trump said Iran will only be able to use funds released from frozen accounts to buy food and medical supplies from the United States. Iran quickly disputed those comments, with the two sides also offering conflicting accounts on key issues. Here's Secretary of State Marco Rubio.
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Chapter 3: What were the outcomes of the gubernatorial primaries in Maryland?
We know what they agreed to do. And now they'll either do it or they won't. And if they do, the process moves forward. And if they don't, the president will have some decisions to make.
Secretary of State Marco Rubio speaking as the Republican-led Senate voted to end U.S. involvement in the conflict in a largely symbolic move. The international nuclear watchdog responsible for verifying Iran's stockpile of near-bomb-grade uranium dismissed the conflicting signals from Tehran and Washington overnight and said it expects to resume full monitoring at some stage.
In Washington yesterday, President Trump threatened to halt peace talks if Iran refused to allow IAEA inspections of its nuclear sites. Around the same time, Iran's foreign ministry said there were no immediate plans for visits by scientists from the United Nations organization.
In a rare bipartisan accord, the House of Representatives passed the most significant housing legislation in decades aimed at addressing affordability. The bill would streamline rules around factory-built housing, encourage localities to remove barriers to construction, and curb large institutional investors' ownership of single-family homes.
President Trump is scheduled to sign the legislation later today. A judge has barred the federal government from making arrests at immigration courts, a practice that took hold shortly after President Trump took office last year. The ruling by U.S. District Judge Casey Pitts of San Francisco says the government failed to justify its actions as required by law.
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Chapter 4: What is the latest update on the Iran nuclear inspections?
We turn to the markets now, and futures are mixed following yesterday's tech-led sell-off on Wall Street. Investors are shifting focus to earnings coming after the bell from a high-flying tech stock. And we get more with Bloomberg Stocks reporter Dan Curtis.
Micron earnings are coming up and markets are on edge. The memory company has been dominating US markets, not only one of the largest contributors to the S&P 500's rally this year, but has also become the most traded stock in the US with about $50 billion worth of shares trading hands every day.
Wall Street is looking for revenue growth of about 280% from a year ago, and projections are the adjusted earnings per share will climb nearly 1,000%. With great expectations come great volatility, and markets are braced for a 10% move off the back of earnings, which would create or destroy over $100 billion in market cap.
And that's Bloomberg Stocks reporter Dan Curtis, who says Micron Technology shares are up almost 270% this year alone. Amazon's Prime Day off to a slow start, according to a survey by market research firm Numerator. The average household spent about $89 as of yesterday afternoon. It's down about 16% from the same time during last year's event. Amazon's marquee promotion is now in its 12th year.
In the World Cup, Portugal beat Uzbekistan 5-0 yesterday. England and Ghana tied. Croatia over Panama 1-0.
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Chapter 5: How is the U.S. government responding to Iran's actions?
And Colombia down Congo 1-0 as well. S&P futures up 0.2%. Dow futures are little changed. NASDAQ futures up 0.3%. 10-year Treasury yield 4.47%. And NYMEX crude oil is down almost 2.5%. It's $71.45 a barrel. That's news when you want it with Bloomberg News Now. I'm Karen Moscow and this is Bloomberg.
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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.
Chapter 6: What significant housing legislation was passed recently?
Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future.
Digitalization of Africa is going to power its growth.
Creating the world of something like HIV is possible.
Population growth is so enormous in Africa.
Listen to Next Africa on Apple, Spotify or wherever you get your podcasts.
Thank you.
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