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Chapter 1: What is the main topic discussed in this episode?
I'm Francine Lacroix, an award-winning journalist, and I've got a new podcast, Leaders with Francine Lacroix from Bloomberg Podcasts. I've interviewed everyone from heads of state to fashion icons about the news of the moment. But I've always been curious, who are these people as leaders? I don't think there's one right way to be a leader.
Make decisions. A poor decision is always better than no decision.
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News when you want it with Bloomberg News Now. I'm Karen Moscow. The candidates endorsed by Zoran Mamdani swept to victory in Democratic congressional primaries, showing that the coalition which powered the New York City mayor to a surprising victory last year is gaining strength. We get more with Jennifer Lawless, professor of politics at the University of Virginia.
There is no question that Mamdani had a good night last night. All three of the congressional races in which he got involved saw his candidate win the race. So there is definitely a shift, at least in the New York congressional delegation.
Jennifer Lawless, professor of politics at the University of Virginia. The candidates backed by Mamdani that won include a former New York City Comptroller, Brad Lander, who defeated two-term Representative Dan Goldman in New York's 10th congressional district. New York State lawmaker Claire Valdez, who took the 7th district in Queens and Brooklyn.
Daria Lisa Villa-Chevalier, a community organizer and graduate student, defeated incumbent Adriano Espaillat in the Democratic primary in the 13th congressional district.
Separately, in a race where Mamdani did not make an endorsement, State Assembly member Michael Lasher was projected to win the Democratic primary for New York's 12th congressional district, defeating a crowded field to succeed retiring Representative Gerald Nadler. Lasher 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. In the crowded race for retiring former House Democratic leader Steny Hoyer's seat, Hoyer's former aide, Adrian Boafo, won with 32 percent of the vote.
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Chapter 2: What recent victories did Zoran Mamdani's candidates achieve in the Democratic primaries?
Yes, it is open. A trickle of movement is going through the water way more so than what we had seen over the past two, three weeks. And this is continuing to accelerate.
And that's Muammar Sabir Abu Omar reporting from Dubai. Meanwhile, Brent oil is falling below $75 a barrel for the first time since the Iran war began as more tankers openly crossed the Strait of Hormuz. Brent currently at $74.66 a barrel, while West Texas Intermediate is at $71.02. The head of the U.N.
's nuclear agency says Iranian nuclear enrichment sites would be visited by inspectors, a key component in the deal between the U.S. and Iran. But an Iranian diplomat promptly rejected this, saying later that such a visit can only come after a final deal is reached.
President Trump is scheduled to meet Senate Republicans for lunch today, a day after the Senate issued a rare rebuke to the president in a war powers resolution. Bloomberg's Laura Davison has more from Washington.
We are expecting lots of fireworks on Capitol Hill.
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Chapter 3: Who is Jennifer Lawless and what insights does she provide on Mamdani's influence?
You know, senators and Trump are both very angry at each other. You know, Trump is going up there to talk to Republicans about his election security bill that, you know, Republican leader John Thune has said just doesn't have the votes to pass and isn't going to.
You know, that on top of the war powers rebuke yesterday, as well as just general dissatisfaction about where the economy is headed into the midterms, will set up for a very, very tense meeting.
And that's Bloomberg's Laura Davison in the nation's capital. A doctor who returned to France after doing humanitarian work in the Democratic Republic of Congo has Ebola. That's according to the French health ministry, which is working to trace possible contacts to ensure they isolate. The patient is the first Ebola case to be identified outside the region. in the current outbreak.
SK Hynix is planning to raise $29.4 billion in a landmark U.S. listing as companies along the artificial intelligence supply chain rush to increase capacity to meet memory chip demand. At that size, and depending on the exchange rate, the deal could be among the top five share sales of all time. Investor focus turns to earnings this afternoon when Micron Technology reports after the closing bell.
Chapter 4: What are the implications of Mamdani's candidates winning in New York's congressional races?
The memory chipmaker's stock is up nearly 270 percent this year. Bloomberg Intelligence Global Head of Tech Research Mandeep Singh is focused on the price of the company's chips themselves.
I think everyone went in with the assumption that input costs will come down, especially for commoditized chips and things that have been a commodity for the past two decades. That hasn't seemed to happen, and that's where some of the assumptions are being tested.
I'm Andy Singh with Bloomberg Intelligence. In the World Cup, Portugal beat Uzbekistan 5-0. England and Ghana tied yesterday. Croatia beat Panama 1-0. And Colombia down Congo, same score, 1-0. S&P futures, they're higher, up a quarter percent. Dow futures are little changed. NASDAQ futures up four-tenths of a percent. Ten-year treasury yield at 4.44 percent.
And that's news when you want it with Bloomberg News Now. I'm Karen Moscow in this. is Bloomberg.
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