Trump Signs Vaccine Order, Colombia Quake Toll Rising, More

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

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Transcript generated automatically by AI and may contain errors.

What is the main topic discussed in this episode?

Elise Hugh 0:00

Add a little curiosity into your routine with TED Talks Daily, the podcast that brings you a new TED Talk every weekday. In less than 15 minutes a day, you'll go beyond the headlines and learn about the big ideas shaping your future. Coming up, how AI will change the way we communicate, how to be a better leader, and more. Listen to TED Talks Daily, wherever you get your podcast.

Amy Morris 0:23

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

What did President Trump’s executive order say about splitting the MMR vaccine?

Unknown 0:35

Effective immediately, my administration's recognizing gold standard childhood vaccine recommendations for only eleven core vaccinations. against the most serious and dangerous diseases along with the MMR which hopefully will be split up.

Amy Morris 0:54

Splitting the shot could be expensive and complicated for MMR manufacturers, Merck and GSK. The Infectious Disease Society of America says there's no evidence that there's any benefit to separating the combination shot. At least one hundred eleven people are dead and more are trapped after a powerful earthquake in Colombia. The magnitude seven point four tremor struck this morning.

How severe was the recent earthquake in Colombia and what are the impacts?

Amy Morris 1:17

At least sixteen hundred buildings are damaged. The event is the first major test for Colombia's president who was sworn in on Friday. President Trump is providing a narrower 90-day extension to a waiver that allows 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. Trump's Jones Act waiver has applied to hundreds of goods since he first authorized the exemptions in mid-March. Bloomberg's Michael McKee.

Unknown 1:48

We do transport things like gasoline and jet fu fuel and things like that.

Why did Trump grant a shorter 90‑day Jones Act waiver for foreign oil shipments?

Unknown 1:52

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 2:09

The decision underscores the administration's continued concern about how the Iran war is rattling oil markets and driving up energy costs ahead of the midterms. President Trump made new demands on Iran, including compensation for those killed and wounded by Iranian roadside bombs and conflicts.

Amy Morris 2:37

The new demands from Trump and Iran's insistence on reparations have dimmed hopes for a quick deal. Crude oil now about five percent higher, WTI topping eighty-two dollars a barrel, and Brent Crude nearing eighty-eight dollars a barrel. We do bring you the closing numbers each day here at Bloomberg. S P lost four and a half points, Nasdaq down eighty five, the Dow down sixty one, the ten year treasury yield at four point seven percent and the two year yield at four point two four percent. Shares of hims and hers health are down three and a half percent in after hours trading after the telehealth firm reduced the top end of its adjusted EBITDA forecast for the full year.

What are today’s key market moves – oil prices, stock indices and Treasury yields?

Amy Morris 3:11

Shares of Trump media and technology closed down eight percent the most in six months, the company posting a net loss of two hundred thirty-eight million dollars in the second quarter. Morgan Stanley launched the U.S. Innovation Infrastructure Initiative, a framework targeting about one and a half trillion dollars in capital raising, financing, advisory, and related investment activity over the next ten years. The initiative will focus on innovation platforms, infrastructure, and capital for growth companies targeting AI, semiconductors, energy infrastructure, and cybersecurity. NVIDIA teaming up with Wall Street on a $500 billion funding package, the Financial Times reports the group includes Apollo Global, Blackstone, BlackRock's Global Infrastructure Partners Unit, Brookfield Asset Management, Goldman Sachs, and KKR.

Amy Morris 3:59

NVIDIA shares fell three percent in regular trading. Apple was downgraded to an underperform rating at Jeffries in the latest example of growing bearishness toward the company.