S&P Falls on Inflation Worries, SpaceX’s Starship Reaches Orbit, More

episode

Bloomberg News Now 6 min 4 speakers 6 chapters transcribed just now

▲ 0

Transcript

jump: chapters · speakers · find in transcript

Transcript

Transcript generated automatically by AI and may contain errors.

Why are U.S. stocks and treasuries falling at the open?

Kenny Malone 0:00

Every episode of Planet Money begins with a question. Can we help people rise out of poverty by improving the neighborhood where they live? What would you build on a piece of land when all the normal rules go out the window?

Karen Moskow 0:11

What do robot chefs mean for the restaurant industry?

Kenny Malone 0:14

Planet Money helps you find answers by going to places, watching people, and sometimes robots at work and asking questions. Listen to Planet Money on the NPR app or wherever you get your podcasts.

Karen Moskow 0:27

News when you want it with Bloomberg News Now. I'm Karen Moscow, and U.S. stocks and treasuries are falling at the open as fading optimism for an imminent breakthrough in the Iran war drives oil prices higher, reigniting worries that inflation is heating up.

Karen Moskow 0:52

Treasury down 1432, the yield 5.22%. Tehran's refusal to budge on its demands for reopening the Strait of Horemuse and mixed signals from President Trump on further talks is sending rent higher. It is currently at $106.62 a barrel.

How are Iran‑related tensions affecting oil prices and inflation worries?

Karen Moskow 1:10

This is even after the resumption of flows through Saudi Arabia's East-West pipeline eased some of the pressure. In the situation with Iran with Bloomberg's Abir Abu Omar.

Abir Abu Omar 1:39

With both the president, the foreign minister as well saying that they always prefer diplomacy and a return to the negotiating table, but then saying that they don't see a way for diplomacy with President Trump rejecting the deal. But for now, we're keeping an eye on whether those talks are set to continue at some stage this week.

Karen Moskow 1:57

And Sboomers Abir Abu Omar, meanwhile, flows through Saudi Arabia's East West pipeline were said to have reached about 3.5 million barrels a day. Again, rent is at $106.57 a barrel, West Texas Intermediate at $94.30. President Trump said he is still looking very seriously at implementing a US ban on diesel exports to combat high prices, even as others in his His administration continue to focus on other possible steps. Began more with Henrietta Trace at Veda Partners.

Unknown 2:29

I don't think it'll be a full scale embargo. What we're looking at is restrictions on different kinds of products.

What impact does the Trump administration’s diesel export ban and fuel‑economy roll‑back have on farmers and motorists?

Unknown 2:35

The White House is scrambling now to find out what they can do on Anything else anywhere down the line with diesel and gasoline, diesel being the primary focus. But you can see what's happened is that the oilmen are against the farmers and they're really battling it out to see where they can get prices down as the leadership and the majority party struggles with being underwater in states like Kansas, Iowa, Alaska, Michigan. Ohio, states that they just can't afford to lose that have been hammered by the one, two, three punch of immigration policy tariffs and now the war.

Karen Moskow 3:12

And that's Henrietta Traes at Veda partner. She's director of economic policy research. The Trump administration finalized a significant weakening of federal fuel economy standards for automobiles. It's rolling back a heat policy that had pushed the industry to improve the efficiency of cars and trucks. And sell more battery electric vehicles. The transportation department says automakers must achieve a fleet average of thirty four point nine miles per gallon for cars and light trucks in model year twenty thirty one. That is far less than the roughly fifty miles per gallon required by standards finalized under President Joe Biden. The US and China detailed a plan to cut tariffs on about thirty billion dollars of imports from each nation.

How are U.S.‑China tariff negotiations expected to change trade flows for goods like toys and medical equipment?

Karen Moskow 3:52

The list for goods entering the US contains seventy seven entries, including fireworks and toys, while more than sixteen hundred goods are set to potentially enter China, such as meat and medical equipment. While SpaceX launched its enormous starship into orbit for the first time today.

Abir Abu Omar 4:11

Three. Two. Oh.

Karen Moskow 4:16

SpaceX is aiming for six full laps around Earth to prove its readiness for NASA's Artemis moon program. The spacecraft almost did not achieve the long desired goal after one of its engines shut down too soon. But with everything else working well and the bad engine no longer needed, flight controllers decided after several tense minutes to proceed as planned.