Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
Hi, I'm David Weston.
News when you want it with Bloomberg News Now. I'm Doug Krisner. It is primary night in New York, Maryland and Utah, and there is a runoff election in South Carolina.
Chapter 2: What were the results of the primary elections in New York, Maryland, and Utah?
First in Maryland, the Associated Press says Governor Wes Moore has won the Democratic nomination for governor. And in South Carolina, the AP says State Attorney General Alan Wilson has won the Republican runoff for the nomination for governor. In New York State, there is a crowded slate of congressional primaries, and New York City Mayor Zoran Mamdani's political power is being tested.
Two of his endorsed candidates are now declared winners. Brad Lander has won the Democratic nomination for New York's 10th congressional district.
Chapter 3: Who are the winners of the Democratic nominations in New York's congressional districts?
He beat incumbent Representative Dan Goldman.
Chapter 4: What are the latest developments regarding U.S.-Iran nuclear inspections?
And Claire Valdez has won the Democratic nomination for New York's 7th congressional district. She beat Brooklyn Borough President Antonio Reynoso. The Trump administration is dismissing claims from Iran that there are no plans for inspectors to check out Iranian nuclear enrichment sites. Here is Secretary of State Marco Rubio.
Chapter 5: How did the Senate vote on ending the U.S. war with Iran?
We know what they agreed to. I don't know why they have to say the things they say. Whatever their internal or domestic politics is, I guess they'll navigate it. But we know what they agreed to do, and now they'll either do it or they won't.
That is Secretary of State Marco Rubio. Now, this dispute over nuclear inspections was sparked by a claim on Sunday from Vice President J.D. Vance that Iran had agreed to grant...
Chapter 6: What impact did semiconductor stock performance have on the market?
the International Atomic Energy Agency, access to its nuclear sites. But Iran rejected that claim the following day. At the same time, the U.S. and Iran are at odds over what financial relief could look like. President Trump said Iran would only be able to use funds released from frozen accounts to purchase food and medical supplies from the U.S.
However, Iran says the funds would be used freely in whatever manner it deems appropriate. In Washington, the Republican-led Senate has voted to end the U.S. war with Iran, breaking with President Trump.
Chapter 7: What were the earnings results for FedEx and their implications?
More on that story from Bloomberg's Amy Morris in Washington.
On this motion, the yeas are 50, the nays are 48. The concurrent motion is agreed to.
The resolution, already approved by the House, requires the U.S. to cease hostilities against Iran unless Congress votes to authorize further attacks and does not allow the president to veto the resolution. It does not require the president's signature and does not carry the force of law, but it does reflect lawmakers' growing concern over how the war is being handled.
Chapter 8: How is the Trump administration's deportation policy evolving?
Americans overwhelmingly opposed the war, with 69 percent saying it was not worth it and 78 percent saying the U.S. should end the conflict now. In Washington, Amy Morris, Bloomberg Radio.
On Wall Street, semiconductor stocks plunged to give in doubt about the durability of the AI-driven rally. This move began overnight in South Korea, where the KOSPI tumbled 10 percent. Local media reported memory chip maker SK Hynix was slowing expansion of its production and shifting emphasis to the cheaper DRAM chips. This report sparked worries over softer demand from AI data centers.
Now, shares in SK Hynix and rival Samsung each plunged more than 10%, and in the U.S., memory chip maker Micron tumbled 13%. Even so, Marianne Bartels, chief investment strategist at Sanctuary Wealth, tells us not every sector is hurting right now.
This is going to be a very specific type of correction that we have. It's not it's not going to be a broad based market type of massive sell off because you're seeing sectors rally or industry groups rally like the banks look good. Small caps. We haven't talked about small caps. Small caps are performing very well in this tape. Biotech is starting to break out.
That is Marianne Bartels, chief investment strategist at Sanctuary Wealth. Shares in SpaceX added 1% today, enough to snap a three-day losing streak. The company's market capitalization was about $2 trillion as of Tuesday's close. After the bell, FedEx posted quarterly earnings above expectations, and the company said profit would grow this year.
However, FedEx saw its profit margin for the past quarter decline to 8.4%. and the company warned of negative financial impacts due to changes in global trade policy. We got reaction from Peter McNally at Third Bridge.
The company has consistently found ways to unlock value, whether it be in cost-cutting, buying back stock, getting more efficient in terms of their CapEx, which has been also going on for years. But I would say the unique thing at this point in FedEx's history as an investment is that the expectations were quite high.
That is Peter McNally from Third Bridge shares in FedEx down about 5% in late U.S. trading. A divided U.S. appeals court is allowing the Trump administration to resume speedy deportations of undocumented migrants throughout the U.S. The court threw out a lower court decision that temporarily blocked the president from expanded use of expedited removal.
That's defined as quick deportation without a chance to appear before a judge. Needless to say, this is a key win for President Trump. His administration views the expansion of so-called expedited removal as a key tool for carrying out its mass deportation policy. In sports, the NBA draft is underway, and with the first overall pick, the Washington Wizards have selected A.J.
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