Episode summary
US Bombs More Iran Targets, Growing Fed Inflation Fears | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 15 min
Summary
The show centered on the fragile Iran ceasefire and the risk that fighting around the Strait of Hormuz could widen again. The host said the US carried out another strike on Iranian military targets after four drones aimed at a commercial ship were shot down and a launch unit near the strait was hit. A guest said the latest exchange looked like another test of the ceasefire, but both sides were still signaling they did not want a full resumption of hostilities. The guest also said President Trump is focused on keeping the strait open and is pressing for a deal without giving Iran too many concessions up front.
The program also discussed Fed Vice Chair Philip Jefferson’s message that inflation should cool later this year, even as tariff effects, higher energy costs, and labor market weakness keep risks tilted to the upside. The host noted Jefferson still sees current policy as well positioned.
On markets, Salesforce fell after giving a revenue outlook that came in slightly below estimates, while Snowflake jumped after signing a $6 billion cloud-services agreement with Amazon. The show also highlighted Jamie Dimon saying JPMorgan may spend about $1 billion more than expected this year because performance has been better than anticipated.
Key takeaways
- A guest said the Iran ceasefire is still holding, but the latest strikes near the Strait of Hormuz are another serious stress test.
- The guest said President Trump wants the strait kept open and is aiming for a framework deal rather than a full settlement right away.
- Federal Reserve Vice Chair Philip Jefferson expects inflation to cool later this year, but he still sees upside risks from tariffs, energy costs and weak labor conditions.
- Salesforce shares fell after the company’s current-period revenue outlook missed estimates by a small amount.
- Snowflake shares surged after a $6 billion deal with Amazon and a stronger-than-expected annual outlook.
Notable quotes
“the US has gone after Iranian military targets as both sides struggled to move ahead on a peace deal”
“the US saying that they acted in a defensive capacity. They shot down four drones that were being directed at a US commercial vessel”
“The strait's going to be open to everybody. The US will watch over it”
“I personally think that right now we're over earning”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager. — And I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin with the latest on the war with Iran. For the second time this week, the US has gone after Iranian military targets as both sides struggled to move ahead on a peace deal. A US official says four Iranian drones targeting a commercial ship were shot down and a launch unit near the straight of Hormuz was hit.
Iran says it targeted the bases in Kuwait where the US attacks came from. All this as President Trump insists Iran wants to make a deal.
Iran is very much uh intent. They want very much to make a deal. So far they haven't gotten there.
We're not satisfied with it. But but we will be. We will be either that or we'll have to just finish the job.
President Trump spoke at a White House cabinet meeting heard live on Bloomberg radio. Bloomberg head of Middle East coverage Stuart Livingston Wallace reports the president may be in a bind. Iran has shown itself to have an exceptionally high pain threshold um and I suspect does consider this to be an existential moment for the regime and therefore you know is not prepared to make a lot of concessions if any concessions from what we can see.
Bloomberg Stewart Livingston Wallace reports. President Trump appears to be caught between Iran's demands for financial relief and ends who attacks and Republican hawks who are urging him to finish the job or at least not sign a bad deal. Nathan, now to the latest in the war in Ukraine.
Vladimir Zalinski is rejecting the idea of partial membership in the European Union. In a letter to senior EU officials, he argued that the country deserves full membership because its forces are defending the block from Russia.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran ceasefire
- fed inflation outlook
- tariffs
- energy costs
- salesforce guidance
Companies and tickers mentioned
- CRM
- Salesforce
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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