Episode summary
Trump Declares Iran Ceasefire Over; NYC Aims to Stabilize High-Rise | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 15 min
Summary
President Trump said the tentative US-Iran ceasefire is over after fresh US strikes hit more than 80 sites in Iran, including air defense systems and small boats. The escalation followed attacks on commercial ships in the Strait of Hormuz and a US move to revoke a waiver allowing Iranian oil sales. A Bloomberg analyst said the waiver change is more symbolic than immediately market-moving, and that the bigger oil risk is whether the fragile ceasefire actually collapses.
The program also focused on a Manhattan high-rise at risk of collapse after structural columns buckled and floors sagged at the former Pfizer headquarters on 42nd Street. City officials said the building had not worsened, engineers entered the structure, and contractors can now install temporary shoring. Nearby buildings were evacuated and some residents were later allowed back in.
Markets were weaker on the renewed Middle East tension, with chip stocks and broader equities under pressure. The host highlighted Nvidia’s sharp pullback and the rotation away from AI leaders toward other semiconductor names. On the macro side, the show previewed the Fed’s June meeting minutes, with an analyst watching for any hawkish signals while the market debates how much more the Fed will tighten this year.
Key takeaways
- Trump said the ceasefire with Iran is over, but the analyst said a breakdown still depends on whether the latest strikes trigger renewed retaliation.
- The US struck more than 80 sites in Iran after attacks on ships in the Strait of Hormuz, and Iran responded against US positions in Bahrain and Kuwait, according to the analyst.
- City officials said the Manhattan high-rise had not shown further movement and crews can begin temporary shoring.
- Nvidia has fallen 16% from its May 14 high and lost roughly $1 trillion in market value in less than two months, as investors rotate within semiconductors.
- An analyst said the Fed minutes may show stronger support for rate hikes, but the market is already questioning whether the Fed will hike as much as priced in.
Notable quotes
“To me, I think it's over. I don't want to deal with them anymore”
“We've been monitoring the building for many hours. Have not seen any movement”
“The market's price off expectations and the bar for these earnings expectations continue to move higher”
“after losing roughly $1 trillion in market value in less than two months, Nvidia's stock is the cheapest it's been since before the AI boom kicked off”
“the actual impact on a physical market might be maybe more subdued than many people assume”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Karen Moscow and I'm Alexis Christopherus. Here are the stories we're following today. Well, — Alexis, some big moves in the markets follow major developments in the Middle East. The US and Iran have traded fire in the Persian Gulf. The US carried out fresh strikes in Iran targeting more than 80 sites including air defense systems and Islamic Revolutionary Guard Corps small boats in response to Iranian attacks on ships in the street of Hormuz. Speaking earlier in Turkey, President Trump said the ceasefire is over.
To me, I think it's over. I don't want to deal with them anymore. They're scum.
You know what scum is? They're scum. They're sick people.
They're led by sick people and they're vicious, violent people and if they had a nuclear weapon, they'd use it. As far as I'm concerned, it's over. I'll speak to our negotiators.
They want to negotiate. They're good people, Steve Woodoff, Jared Kushner, but they have to come back to me. As far as I'm concerned, it's just a waste of time dealing with them.
President Trump speaking to reporters earlier today in anchor at Turkey. Talks between the US and Iran have been paused since last week. While Iran conducts a week-long mass funeral for the late Supreme Leader Ali Hammedi. — Well, the latest escalation in the Middle East is at the forefront as NATO wraps up its summit in Turkey. NATO Secretary General Mark Ruda threw his full weight behind America's latest strikes on Iran.
When you have a ceasefire and Iran is basically violating the ceasefire. We've seen what happened yesterday with ships being attacked. I think it is totally crucial that the US forcefully reacts. — NATO Secretary General Mark Ruda says he wants allies to confirm that Iran can never get nuclear weapons.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran ceasefire
- strikes and shipping
- nyc high-rise stabilization
- semiconductor competition
- nvidia stock slump
Companies and tickers mentioned
- NVDA
- HSY
- D
- Nvidia
- Hershey
- Dominion Energy
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
More from Bloomberg Daybreak: US Edition
-
Nvidia Faces Post-Huang Reckoning, Microsoft Races to Fix Outage | Bloomberg Daybreak: US Edition -
Daybreak Weekend: Nvidia Earnings, UK Labour Market, APEC Summit | Bloomberg Daybreak: US Edition -
Nvidia Weighs Succession Plans; Congress Preparing to Subpoena Jensen Huang | Bloomberg... -
GOP Thwarts Hegseth Impeachment; CoreWeave Quiets Doubts | Bloomberg Daybreak: US Edition -
FBI Investigates Nvidia CEO, Anthropic IPO Snafu | Bloomberg Daybreak: US Edition -
Nvidia CEO Affair Sparks Probe, Trump Admits Policy Mistake | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition, this episode and its artwork belong to Bloomberg. Octagon is not affiliated with the show; this page is an independent summary.
