US-Iran Nuclear Inspection Dispute, Senate Votes to End Iran War
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Doug Krisner. 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.
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... 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.
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. 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.
What recent developments have occurred in the US-Iran nuclear inspection dispute?
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.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:19
2
What recent developments have occurred in the US-Iran nuclear inspection dispute?
2:19–4:33
3
What claims did Vice President J.D. Vance make regarding Iran's nuclear sites?
4:33–7:52
4
How has the US Senate voted to end the war with Iran?
7:52–9:01
Speakers
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