US Expands Iran Attacks, Fires in Canada Force US Air Quality Alerts, More

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Bloomberg News Now 7 min 7 speakers 5 chapters transcribed 2 months ago
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What is the main topic discussed in this episode?

Lisa Mateo 0:00
Join us for Bloomberg Power Players on September 10th in New York. Set against the backdrop of the U.S. Open Tennis Championships, Bloomberg convenes the leaders shaping the future of sports business. From athletes and team owners to commissioners and investors, hear the market-moving conversations driving the multi-trillion dollar sports economy. Register now at BloombergLive.com slash PowerPlayersRadio. That's BloombergLive.com slash PowerPlayersRadio.
Amy Morris 0:30
News when you want it. With Bloomberg News Now, I'm Amy Morris. The U.S. intensified strikes against Iran, hitting an oil tanker near the country's main export terminal for the first time since the restart of the blockade on Iran's ports. Bloomberg's Tyler Kendall.
Tyler Kendall 0:44
This strike against this vessel actually happened deep into the Persian Gulf, away from the Strait of Hormuz, seeming to indicate that the U.S. is looking to expand the scope. of its naval operations.
Amy Morris 0:55
Bloomberg's Tyler Kendall, and now Iran has reportedly asked its Houthi allies in Yemen to close the Red Sea oil route if the U.S. strikes Iran's power network. Sources tell Reuters that the Houthis have deployed missiles and drones in the area. They're just waiting for the order now. Oil moving off session highs, now WTI crude right at $79 a barrel and Brent crude at $84 a barrel. Hazardous air again today in several U.S. cities as smoke from Canada's wildfires drifts across North America. But this heavy smoke, while creating dangerous conditions, is also keeping temperatures down. Bloomberg meteorologist Rob Carolyn.
Hakeem Jeffries 1:33
Risers, though, not as expansive as they've been because the extensive smoke we've been seeing from the wildfires in Minnesota and Ontario has been suppressing the temperatures. So it's not going to be quite as warm as it was forecast to be earlier in the week.
Amy Morris 1:47
Bloomberg meteorologist Rob Carolin. Air quality readings surged to dangerous levels in a lot of places, including Chicago, Detroit, Philadelphia and Minneapolis. Chipmakers being hit by AI worries, dragging down stocks. We check markets for you all day long here at Bloomberg. The S&P 500 down four tenths of a percent. NASDAQ down 1.1 percent. The Dow down a tenth of a percent. The 10-year Treasury yield at 4.56 percent and the two-year yield at 4.16 percent. The Philadelphia Semiconductor Index is down nearly 5%, led by Micron, which has fallen more than 6.5%.

How did U.S. strikes expand against Iran and where was the oil tanker hit?

Amy Morris 2:22
Uber shares are more than 1% higher after the rideshare company agreed to buy Delivery Hero in a deal that values the German food delivery company at nearly $15 billion. Netflix will report second quarter results after today's close. Investors increasingly concerned about growth prospects. Netflix shares are a little changed while Wall Street awaits those earnings. SpaceX will attempt a major test flight of its Starship rocket tonight from its Starbase facility in South Texas. Shares of SpaceX are now down more than 3%. Confidence among U.S. homebuilders dropped for a second month to the lowest level of the year caused by elevated borrowing costs and higher material and land prices. And U.S. mortgage rates are now at 6.55 percent.

What evidence suggests the U.S. is broadening naval operations in the Persian Gulf?

Amy Morris 3:07
That's the highest since last August. And retail sales rose modestly in June, dragged down by a drop in gas station receipts that masked strong gains at some merchants. Bloomberg's Michael McKee.
Brian Moynihan 3:19
The retail sales numbers up by two-tenths of a percent in the month of June. Americans still spending, but the control group up a solid half a percent after a seven-tenths rise the month before.
Amy Morris 3:31
So basically, Americans still spending, and it will help GDP. Bloomberg's Michael McKee. Bank of America CEO Brian Moynihan says AI models like Anthropix Mythos are raising serious concerns. The financial industry and U.S. government are working to assess potential threats from the evolution of AI models.
Brian Moynihan 3:50
It's a serious concern.

What are the reported Houthi responses and risks to the Red Sea oil route?

Brian Moynihan 3:52
I think the so-called AI industry and industry writ large have worked together. But you can't think that we're ever going to be able to control this because there's foreign models that people use. Not everybody's going to have the same thought process that our country has.

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