Trump Seeks to Split Measles Shot, Colombia Quake Toll Rising, More

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Bloomberg News Now 7 min 5 speakers 3 chapters transcribed 1 month ago

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What is the Bloomberg News Now intro and who is hosting this episode?

Unknown 0:01

Our hometown is not a test to ninety miles northeast of Nashville, a battle for the future of America plays out in one small town. Developers with right wing ties have purchased hundreds of acres of land. We need cities on a shining hill. This is our town. A podcast about what happens when a small town becomes the site of a social experiment and fights back. Listen to our town on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

Amy Morris 0:35

News. When you want it with Bloomberg News Now, I'm Amy Morris. President Trump today is expected to sign an executive order that would recommend breaking up the combined measles, mumps, and rubella vaccine into three separate shots.

Amy Morris 1:01

The Infectious Disease Society of America says there is no evidence that there is any benefit to separating the shot. At least one hundred eleven people are dead. More are trapped after a powerful earthquake in Colombia. The magnitude seven point four tremor struck at seven thirty-four this morning local time. At least sixteen hundred buildings are damaged. The event is the first major test for Columbia's president who was sworn in on Friday. President Trump is providing a narrower ninety day extension to a waiver allowing foreign ships to transport oil and other commodities around the U.S. The Jones Act forces goods carried between domestic coastal ports to be transported on U.S. flagged, built and owned ships.

Amy Morris 1:42

Trump's Jones Act waiver has applied to hundreds of goods since he first authorized the exemptions in March, Bloomberg's Michael McKee.

Unknown 1:50

We do transport things like gasoline and jet fu fuel and things like that. So in the refined products area it can have an impact because the shipping costs are uh going to be lower and and that adds a lot, especially when you consider that the shippers have to pay more for their fuel. So it's a it's a good news thing on the margins for what's going on.

Amy Morris 2:12

The decision underscores the administration's continued concern about how the war with Iran is rattling oil markets and driving up energy costs ahead of the November midterms.

Amy Morris 2:28

The president is looking to force a reopening of the Strait of Hormuz, but Iran has said the conditions are not in place for that. Bloomberg Middle East breaking news editor Patrick Sykes.

Patrick Sykes 2:38

We just heard the repetition of the message that they're they're not engaged in talks with the US, but they are indeed exchanging messages via intermediaries. So it just underlines I think yeah, we're we're stuck in this something of a loop where the two sides going back and forth.

Amy Morris 2:52

Bloomberg's Patrick Sykes and now the president has posted on social media that he wants compensation to be part of talks with Iran going forward. Iran has been asking for compensation for the damage done by those strikes, but Trump wants compensation for protesters who were killed in Iran in the past fifty years. And crude oil prices are moving five percent higher, WTI topping eighty-two dollars a barrel and Brent Crude about eighty-eight dollars a barrel. Oil's rally also pushing stocks lower. We check markets for you all day long here at Bloomberg. The S P five hundred is little changed on the downside. NASDAQ down three tenths of a percent, the Dow down three tenths of a percent, the Russell two thousand index down a six-tenths of a percent.

Amy Morris 3:32

The ten year Treasury yield at four point. Point six nine percent the two year yield. At four point two three percent, the Philadelphia Semiconductor Index nearly two percent lower, led by Coherent, which has fallen twelve percent. White House economic advisor Kevin Hassett says he's not looking to replace Lisa Cook on the Fed board now that President Trump has revived his threat to remove her over unproven mortgage fraud allegations.

Kevin Hassett 3:56

It's a law enforcement matter I look forward to seeing.

Why is President Trump proposing to split the MMR vaccine into three separate shots?

Kevin Hassett 3:58

Uh if you look at the Supreme Court uh ruling, i it said that basically she was given insufficient notice and so now she's been given notice. I look forward to seeing what she has to say.

Amy Morris 4:08

Hassett tells CNBC he'd either keep rates on hold or cut if he were running the Fed.