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Charlie Kirk, who helped rally young voters to Republican causes and became a close ally of President Donald Trump, died after being shot during an event in Utah. Kirk, executive director of the conservative Turning Point USA advocacy group, was speaking at an outdoor event at Utah Valley University when the fatal incident occurred.
For instant reaction and analysis, Bloomberg Balance of Power cohosts Joe Mathieu and Kriti Gupta speak with:
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On today's podcast:
1) A judge temporarily blocked President Trump from removing Federal Reserve Governor Lisa Cook, allowing her to remain on the job as she challenges the president’s efforts to oust her over allegations she committed mortgage fraud.
2) President Trump criticizes Israel after its bombing of Hamas leaders in the Gulf. Israel's strike on Qatar's capital delivered a major blow to US-supported efforts to normalize ties with Gulf Arab nations and possibly crippled talks for a ceasefire in Gaza. The strike may have ended Qatar's role as a mediator in ceasefire negotiations, with other countries such as Turkey potentially being put on high alert, according to former US and CIA officials.
3) Poland shot down drones that crossed into its territory during a Russian air strike on Ukraine, calling it an "act of aggression." The country's airspace was "violated by a huge number of Russian drones", forcing Poland to close its airspace and order citizens in the eastern part of the country to stay indoors. The incident was described as "the most serious European airspace violation by Russia since the war began", with indications suggesting it was intentional, not accidental.
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US job growth was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates.
The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year.
Before the report, the government’s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half that.
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On today's podcast:
1) President Trump started his immigration crackdown in Chicago, with federal agents stepping up enforcement in an escalating campaign against Democratic-run cities. The Department of Homeland Security said Operation Midway Blitz targets “criminal illegal aliens” and blamed Illinois Governor JB Pritzker for sanctuary policies that it said help shield lawbreakers.
2) House Democrats released an alleged birthday note that they said Donald Trump sent to Jeffrey Epstein, raising pressure on the president over questions about his past interactions with the late disgraced financier. The release stems from a trove of documents received by the House Oversight Committee, including a birthday book compiled for Epstein’s 50th birthday and his last will and testament.
3) Investors in the Treasuries market face a test of bullish sentiment this week from inflation reports and a benchmark revisions for jobs data. The market's ability to extend this month's rally will depend on the tone of producer and consumer inflation due Wednesday and Thursday.
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On today's podcast:
1) The European Union is exploring new sanctions on about half a dozen Russian banks and energy companies as part of its latest round of measures to pressure President Vladimir Putin to end the war against Ukraine.The package, which would be the bloc’s 19th since Moscow’s full-scale invasion in 2022, could also see the EU target Russia’s payment and credit card systems, crypto exchanges as well as further restrictions on the country’s oil trade, according to people familiar with the matter.
2) Federal immigration agents conducted raids across Boston and nearby communities over the weekend, arresting dozens of people, according to a spokesperson for the Department of Homeland Security. The move came as the Justice Department filed suit against the city and its mayor, intensifying a clash over local sanctuary policies. Local officials have rejected the federal operations as unnecessary and authoritarian overreach.
3) Stocks rose at the start of a week that is packed with events that will be crucial in shaping sentiment as markets trade near all-time highs. Gold extended a record rally
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Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.
- Stuart Paul, US Economist with Bloomberg Economics, to preview CPI and PPI data.
- Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, to preview Apple’s September 9th event.
- Ros Mathieson, Bloomberg Chief Asia Correspondent, on global defence industry gathering in London for the UK's flagship sector event.
- Tony Halpin, Russian Government and Economy Team Leader, on global defence industry gathering in London for the UK's flagship sector event.
- Mary Nicola, Bloomberg MLIV Strategist in Singapore, discusses China August CPI and PPI data.
- Kevin Sneader, APAC ex-Japan President at Goldman Sachs, discusses China’s stock rally.
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On today’s podcast:
1) President Trump teases new semiconductor tariffs at a White House dinner surrounded by tech titans. Mark Zuckerberg and Tim Cook joined other tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Trump. The president has secured billions in corporate commitments to drive construction of AI infrastructure, with companies including Meta and Apple announcing plans to invest in the US and avoid tariffs on imports.
2) Broadcom is helping OpenAI design and produce an artificial intelligence accelerator from 2026, getting into a lucrative sphere dominated by Nvidia. The two firms plan to ship the first chips in that lineup starting next year, with OpenAI initially using the chip for its own internal purposes.
3) Traders brace for today’s US jobs report and signs of further labor weakening. Stocks in the premarket advanced as optimism built that Friday’s jobs report will set the stage for the Federal Reserve to resume cutting interest rates this month. Money markets are fully pricing in a Fed quarter-point cut this month and see at least two by year-end.
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On today's podcast:
1) President Trump asks the Supreme Court to uphold his global tariff regime. A defeat for Trump would cut the current average US effective tariff rate by at least half and could force the US to refund tens of billions of dollars, according to Bloomberg Economics analyst Chris Kennedy.
2) A major court victory for Harvard University in its fight for federal research funds. A court ruled that the US illegally froze more than $2 billion in research funding to Harvard University, violating the school's free speech rights and not following proper procedures. The Trump administration plans to appeal the decision, with a White House spokeswoman calling it "egregious" and stating that Harvard "does not have a constitutional right to taxpayer dollars and remains ineligible for grants in the future."
3) President Trump's bid to reshape the Fed goes before a Senate confirmation hearing today. The Senate Banking Committee is holding a confirmation hearing on Stephen Miran's appointment to be a governor of the Federal Reserve, a nomination made by President Donald Trump. Miran has said he will preserve the Fed's independence, stating that "independence of monetary policy is a critical element for its success" and that he intends to "preserve that independence and serve the American people to the best of my ability."
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On today's podcast:
1) President Donald Trump took aim at Chinese leader Xi Jinping as he hosted foreign leaders at a major military parade in Beijing, a reminder of the lingering tensions between the two sides over trade, tech and other issues.“Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America,” Trump said on his Truth Social site, referring to the leaders of Russia and North Korea, without elaborating.
2) Global bonds are facing renewed selling pressure as jitters around inflation, debt sales and fiscal discipline erode sentiment toward what had previously been some of the world’s safest assets.
3) Alphabet Inc.’s Google will have to share some of its search data with competitors, but will not have to sell its popular Chrome web browser, a federal judge ruled Tuesday in the Justice Department’s landmark antitrust case against the search engine. The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court found the company had an illegal monopoly in the search market.
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Alphabet’s Google will have to share some of its search data with competitors, but will not have to sell its popular Chrome web browser, a federal judge ruled Tuesday in the Justice Department’s landmark antitrust case against the search engine.
The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court found the company had an illegal monopoly in the search market. Judge Amit Mehta did bar Google from entering into exclusive contracts for internet search.The finding follows Mehta’s ruling last year that Google illegally monopolized the markets for online search and search advertisements. Mehta held a three-week hearing in April to determine a fix.
The order is one of the most monumental court decisions affecting the tech sector in more than a quarter century, and could offer a blueprint for other judges who may end up weighing similar choices in cases against Meta Platforms, Amazon and Apple.
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