Rubio: US Expects Iran's Answer Today, Court Blocks Va Dem Map, More
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News when you want it with Bloomberg News Now. I'm Amy Morris. The U.S. and Iran have exchanged fire. The U.S. carrying out airstrikes on Iranian oil tankers and Iran criticizing the U.S. for violating the ceasefire agreement. Bloomberg's Tyler Kendall.
There have been clashes from both sides, particularly when it comes to the straight over moves in Washington. The line as of now is that they were still working towards a diplomatic solution. President Trump saying yesterday that the flare up that we've seen in the fighting doesn't constitute a violation of the ceasefire agreement. of the ceasefire.
Bloomberg's Tyler Kendall and Secretary of State Marco Rubio says an answer is expected today from Iran on the U.S. 's latest peace proposal.
Their system is still highly fractured and a bit dysfunctional as well. So that may be serving as an impediment. I hope it's a serious offer. I really do.
Secretary of State Marco Rubio, Iran still has given no indication whether it will accept President Trump's plan. The two sides would still need to negotiate a deal over Iran's nuclear program. Oil market watchers are worried that demand for oil will be crushed after stockpiles dwindle. Europe is already struggling to find supplies of jet fuel. And in the U.S., retail gasoline prices are near their highest in almost four years. We check those crude oil prices for you now. WTI closing in on $96 a barrel and Brent crude more than $101 a barrel. The Virginia Supreme Court has blocked state officials from using a new congressional map, saying the process of creating that map violated the state constitution.
Voters approved the map, which was poised to help Democrats gain seats in the U.S. House. Bloomberg Government Senior Elections Reporter Greg Giroux.
Some other Republican states are trying to redraw lines in light of a U.S. Supreme Court decision last week that curtails the use of race and redistricting. The big question will be how much will really all matter in the midterm elections. The reducing wars may turn out to be somewhat of a partisan wash at the end of the day.
Bloomberg's Greg Giroux. Democratic state officials could go to the U.S. Supreme Court to intervene on an emergency basis. U.S. employers added more jobs than expected for a second month, and the unemployment rate held steady in April, indicating the labor market is holding up despite rising energy costs. Non-farm payrolls rose 115,000 last month after an even bigger surge in March, marking the strongest two-month increase since 2024, and the first backed-back gain for the labor market in nearly a year. White House economic advisor Kevin Hassett.
It's a rip-roaring jobs market, and it's completely consistent with what we saw with the claims data just a few days ago. Initial claims for unemployment insurance right now are the lowest since we've ever been counting them, all the way back to the 1960s. And so the job market is really, really, really strong.
National Economic Council Director Kevin Hassett on Bloomberg Radio and Television. JPMorgan Asset Management Chief Strategist for the Americas Gabriela Santos tells Bloomberg the labor market is getting a very specific boost.
We honestly see an AI lift, otherwise it's economic drift. And that's how I would characterize this labor market. It's kind of drifting along. It's okay. We wouldn't call it strong.
Gabriela Santos with J.P. Morgan on Bloomberg TV. Consumer sentiment fell to a fresh record low over concerns about the impact of inflation on personal finances and buying conditions. The latest University of Michigan Sentiment Index decreased to 48.2, down from 49.8 last month. Survey director Joanne Hsu tells Bloomberg that a third of consumers surveyed mentioned high gas prices.
We really shouldn't be surprised at all by these negative reads. Consumers have been under a tremendous amount of strain, and particularly with these climbing gas prices, there's only so much consumers can do to pull back their gas consumption, and that just leaves less money for everything else.
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