this is bloomberg. ♪ mark: i'm mark crumpton with bloomberg first word news. l mark milley, head of the u.s. joint chiefs of staff said two calls to his chinese counterparts in the final weeks before the trump administration were a normal part of his job and were coordinated with the acting secretary of defense and with other top officials. >> the specific purpose of the october and january calls were generated by concerning intelligence which caused us to believe the chinese were worried about an attack on them by the united states. i know i am certain that president trump did not intend to attack the chinese, and it is my directed responsibility, and it was my directed responsibility by the secretary, to convey that intent to the chinese. alix: descriptions of those phone calls made were first aired an excerpt from the forthcoming book "peril" by washington post journalist bob woodward and robert costa. the u.k. has put their army on alert to deliver supplies to gas stations. it is the latest emergency measure in a crisis that has engulfed boris johnson gover

mark: i'm mark crumpton with bloomberg's "first word news."y chain issues continue to hamper production around the world. >> i think we have improved the supply chain in egypt significantly and it helped us to maintain full prices and to maintain inflation within the target by the improvement in the infrastructure of the supply chain which we are still working on. mark: ongoing supply constraints are plagued the u.s. recovery and many are showing few signs of dissipating anytime soon. the supreme court is getting back to work in person. it will hold in person arguments when its next term begins in october, so there will be some precautions. attendance will be limited to justices, the lawyers, essential personnel, and reporters with jewels. the supreme court has been holding arguments by phone since the pandemic began. austria is clamping down on the unvaccinated saying they will have to wear certain masks and all shops starting september 15. the chancellor says further measures may be put in place depending upon the occupancy level of icu beds

i'm mark crumpton. this is bloomberg. amanda: i'm amanda lange.ne: we welcome our bloomberg audiences. here are the top stories we are following. bitcoin taking a dive, falling as el salvador is using a cryptocurrency for legal tendency. the president says it is taking advantage of us all, buying the tip. nick carter in june hosted a social chat about the adoption of that. state street agreeing to buy the investor unit of brown brothers. we will dig into how and why the deal got done. amanda: we are watching markets pretty quiet across the board. some of those big waited cap names like netflix, disney, we got positive action among those groups. we can see the nasdaq showing some leadership here. it's industrials leading a slower and big concerns about the expectations for growth and what the third quarter will shape up to be and a willingness to trade stocks. it does at some point come home to roost in the form of corporate profits and we see cherry picking among the buying is what we are hearing. the 10 year yield at 136 and we see some action on

mark: i am mark crumpton.en wants 70% of the world to be vaccinated against covid by this time next year and is expected to make that call in his first address to the u.n. general assembly. dr. anthony fauci told msnbc he disagrees with an expert's review in the lancet that says vaccines were so effective that booster shots might not be needed for everyone. he also said young, healthy, unvaccinated people need to understand they are not exempt from getting seriously ill. senior senate democrats have reached an agreement with moderate senator joe manchin on a broad overhaul of a u.s. voting rights law that would create an automatic voter registration system through the motor vehicle agency and provide voters at least 15 days of federal voting -- voting in federal elections. it is designed to prevent gerrymandering.

mark: i'm mark crumpton with bloomberg first word news.nt biden is urging the world to turn from conflict to cooperation against the threats of climate change and covid-19. during his first speech to the united nations general assembly as president of the united states, mr. biden pledged u.s. would double its financial support to help low income countries adapt to a warming climate and shift to clean energy. in april, the president committed $5.7 billion. the british prime minister boris johnson is also in new york for the u.n. gathering and weighed in on the need to combat climate change. >> this is a moment where the world has to decide whether it wants to grow up or not, make a crucial change or not. we cannot keep trashing the planet in the way that we are. mark: prime minister johnson government is hosting climate talks in glasgow, scotland next month. u.k. is deliver -- focused on promising -- that poorer nations were to receive 100 billion dollars each year from 2020 to help them cut carbon emissions and adapt to the effects of clim

mark: i am mark crumpton with bloomberg's first word news.dent biden is turning his focus to climate. he convened a meeting with world leaders saying now is the time to cut greenhouse gas emissions. the meeting of the major economies form comes six weeks before a you and summit on climate change in scotland. the united states could be getting one step closer to covid booster shots for those 16 and older. the food and drug administration's meeting today to evaluate safety and effectiveness status. president biden has said he would like to see additional booster shots approved by september 20. right now, they are approved just for people who are immunocompromised. house speaker nancy pelosi is in the u.k. for a g7 heads of parliament conference. she spoke out a form where she warned there will be no u.s.-u.k. trade deal unless the british government solves post-brexit disagreements with the european union that risk destabilizing northern ireland.

mark: i am a mark crumpton with bloomberg. biden it received a booster shot of the pfizer vaccine today in front of cameras at the white house. he said he will press for more vaccination and dates improve the u.s. inoculation rate. about -- president biden: about 20% have not gotten any shots. that minority is causing damage. this is a pandemic of the unvaccinated. that is why i am moving forward with requirements wherever i can. mark: mr. biden received his first shot in december and his second in january, putting him well past the six-month threshold. as he willed up his sleeves, he told reporters he had not experienced any side effects from the previous injections. u.s. national security advisor jake sullivan is meeting today with saudi arabia's

mark: i am mark crumpton with bloomberg's first word news.sident biden is lashing out at republican governors for a fighting mask mandates and other covid-19 precautions in schools. speaking at a washington, d.c., middle school today, he accused the governors of endangering children and being "cavalier with the health of kids," and said measures like wearing masks are proven to be effective. >> i want folks to know that we are going to be ok. we are going to be ok. we know what it takes to keep our children safe and schools open. we have tools to do it. mark: republican governors, including ron desantis of florida, and greg abbott of texas, have tried to prohibit schools in their states from requiring masks, calling it a personal decision for parents. president biden says science and public opinion are on his side. justin trudeau is facing a tough fight to manage even narrow victory in the snap election. with advanced ballots beginning today, public opinion

mark: i am mark crumpton with bloomberg's first word news. the u.s. latest covid-19 wave is taking hold across the country, with cases dropping or poised to start falling in 47 states and the district of columbia. the seven day average of new cases in the u.s. was about 110,000, down from more than 160,000 at the start of the month. still, some states are managing crisis level situations in their intensive care units. covid strained hospitals. be most concentrated in iowa, montana, wyoming, georgia, and west virginia. lloyd austin told lawmakers today that the trump administration did leave behind plans for a negotiated withdrawal and afghanistan for him to use when he took over the pentagon. secretary austen told the house armed services committee there was no "handouts" given to the biden administration. secretary austin's remarks came after general mark mille

i am mark crumpton, this is bloomberg. ♪ ♪ amanda: welcome to bloomberg markets. here are the top stories we are following. the leverage finance market bracing for a surge in new deals fueled by booming demand for m&a financing, investors hungry for anything that offers yield. we discussed that with paul to gianni. uber shares higher today after goldman sachs put the buy rating on the service. more on the stock of the hour and a return to travel. michael brown, ceo of travel and leisure joins us to discuss the demand or drop off as the delta variant emerges as a real problem for the industry. amanda: that will be an interesting read as we move past -- try to move past this pandemic, stocks remain mired, the closed all-time highs. even if they are down slightly, just barely off record highs. still, we are seeing soft action partly because we will get a read on cpi. energy a clear leader as opec raises expectations for demand for its products. we are seeing the energy subgroup leading. not a lot of leadership from big tech subgroups that make up the -- stocks. weakn

i'm mark crumpton. this is bloomberg. >> it is 1:00 p.m. in new york. i'm matt miller. welcome to bloomberg markets. here the top stories from around the world. macau casinos see $18 million white out. we will have the latest on the gaming crackdown that's hitting american operators as well plus we will go down to cape canaveral in florida where spacex is preparing the first ever all civilian space launch. that happens later tonight with the inspiration 4. and german taxi startup lily him . we will discuss with the ceo. a look at what's going on in the markets with the s&p and the 10-year. right now the s&p up about two thirds of 1%. the 10 year yield also rising to 131. investors are comfortable enough to selloff off bonds and buy stocks. the really interesting action i think is in commodities. we saw brent crude hit almost $76 a barrel. the global benchmark contract up and the story has been insane. you can see the dutch contract up 7.5%. we saw gains of 16% in british natural gas this morning because there's not enough wind power across the u.k. and europe. there's n

i'm mark crumpton. this is bloomberg. ♪ matt: it is 1:00 p.m. in new york.ere are the top stories. opec and its allies agreed to stick to their plan for gradual monthly oil production increases after a brief video conference. we will discuss with ellen walt of the atlantic council. wall street heads south. how palm beach developers are revamping the area to be more like new york city is more and more financial employees moved to florida. we will speak to the ceo of motor forward about the company's agreement with harley davidson in india. a quick check of the markets. we are back in rally mode on the s&p 500. now up 0.3%. the u.s. 10 year is unchanged. coming back because it did dip throughout the beginning of the session. the dollar index is about -- down about 0.25%. crude unchanged at 68.46. that news out of opec. joining us is ellen walt -- wald. ellen, your thoughts on the meeting? ellen: there was no press conference at the end, which is unique in the age of video conference, where ministers like to hold court. but really the decision was just a rubber

. ♪ mark: i'm mark crumpton with bloomberg first word news. u.s.ls were counting on widespread vaccinations to get all students back to in person classes for the first time since early 2020. but weeks into the effort, signs of another texting year are emerging. over the past month with kindergarten through 12th grade in session, the country has reported almost one million covid-19 cases among those under the age of 18. at least 2000 schools nationwide have closed, up 18% from the previous week. new york state health commissioner howard zucker, who helped andrew cuomo respond to the pandemic, is stepping down. he was central to allegation to the cuomo administration's covering up of nursing home deaths. the report found officials undercounted covid related deaths in new york nursing homes by as much as 50%. governor kathy hochul says she agrees with the decision to resign. pakistan's government says the international community should come up with a roadmap that leads to diplomatic recognition of the taliban. the country's foreign minister says the p

i'm mark crumpton. this is bloomberg. ♪ >> welcome to bloomberg markets.e top stories we are following. the u.s. equities, -- closing its next -- worst quarter. then, we will speak to a guest who believes the overall credit market will escape the fallout. wall street warns of the next big risk. >> an interesting day on these markets. we have a negative territory across north america. the last few sessions, the best improving group -- the best-performing group are the big cap names. they are less negative than industrials or energy. we are seeing steep declines there. the 10 year, we are not seeing it shooting higher. a delayed reaction to the path laid out by the fed. we are watching the u.s. dollar with analysts noting it is making a move. over the past week, it has seen out 1.5% moved to the upside. it is interesting to see the currency market catching up not just to the fed, but what you were alluding to is the sentiment around what could lie ahead. i want to bring in our guest for more. it feels as though there is sentiment data points here. they still

mark: i'm mark crumpton with bloomberg first word news.nt biden is set to promote his massive middle-class spending plan in a white house speech within the hour with trillions of dollars in play. the president is banking on a message of fairness to get his message through congress where his party holds a thin majority over republican opposition that is showing no desire to compromise. the plan focuses on education, childcare, and the climate crisis battle. senate republican leader mitch mcconnell says raising the debt limit should be strictly up to the democrats. it's in response to treasury secretary janet yellen's recent call for bipartisanship. a spokesperson for senator mcconnell says democrats are engaged in a reckless tax and spending spree and will have to boost the ceiling on their own. the government could run out of authority to spend next month. it will not be all sightseeing for the first all civilian crew of a man space mission. elon musk spacex watch the four into orbit yesterday. they are set to conduct medical research duri

i'm mark crumpton. this is bloomberg. ♪ >> it is 1:00 in new york, 7:00 in berlin, 1:00 in hong kong. i am matt miller. welcome to bloomberg markets. here are the top stories we are following on the bloomberg and from around the world. the ecb slows bond purchases but the central bank insists it is not tapering. we will break down the news from the september policy meeting with sylvia are diagnosed, the head of the european economics research at barclays. later this hour, an exclusive conversation with jimmy pitaro, chairman of espn and sports content at walt disney, as the nfl season kicks off tonight, and we will cover the return of in person new york fashion week for the first time since the start of the pandemic with designer dennis basso. let's take a look at what is going on in markets. the s&p has turned to slight losses, not even one point, but we were looking at gains earlier. 4513. the u.s. 10 year coming down as the price goes up. 1.53201 is the level of return you get for lending your money

mark: i am mark crumpton. s the 20th anniversary of the september 11 terrorist attacks on the u.s. 2977 people were killed as a result of militants linked to al qaeda hijacking four planes. two crashed into the world trade center here in new york, one in the pentagon, and a fourth was brought down

i am mark crumpton. this is bloomberg. ♪ >> it is 1:00 p.m. in new york, 1:00 a.m. in hong kong. am matt miller. count down to the fed. we are less than one hour away from the fomc decision. i will be speaking with the former advisor to the dallas fed, danielle dimartino booth, now the ceo of quill intelligence and bloomberg opinion contributor. we have the latest on china's evergrande as a sources close to the government say the real estate drive will be restructured into three separate entities. what kind of fallout will that have? we hear from the cofounders of one of the fastest growing and best-performing firms in credit investing, diameter capital partners. they discuss the opportunity with the fed's move. i want to check on what is going on in the market. another day of gains and little bit stronger today. up more than 1% on the s&p 500. we have been over 4400 for some time today. the u.s. 10 year yield coming down as investors buy the government debt. dollar index down 1/10 of 1%. crude up to $71.98 a barrel. something caught my eye today in italy and that is a move in th

this is mark crumpton and bloomberg. >> welcome to bloomberg markets. and i am matt miller. welcome our bloomberg audiences. here are the top stories we are following. china outlawed crypto. once again. we will bring you more on the crackdown. the ceo will provide us more. we are looking at the german election to determine what the future of foreign relations is for jon corpina one of the u.s. investors to germany. plus, we will discuss the issue facing voters in the election. more ahead on politics. amanda? >> it is a lackluster session. i see some modest gains being maintained for the s&p 500 but very modest indeed. the internals are next. energy and financials are leading, and communication and consumer discretionary spending are positive territory. as you can see, nasdaq is weak overall, and we are occupied by that 10-year yield. still some things out there as we come off the board. an important week with jay powell and more color on the path to the taper. get nike. it had a 6% close. it is driving the market, and that is earnings and the extent to which the logistical i

. ♪ mark: i am mark crumpton with bloomberg's first word news. a big blow for apple.al judge ruled that apple can no longer force developers to use its payment system in apps. the judge granted them an injunction sought by epic games while ordering the game maker to pay damages to apple for breach of contract. the order could take a big right out of profitability of the app store. according to analysts, it takes in more than $20 billion a year with the profit margin above 75%. the biden administration is weighing a new investigation into chinese subsidies and their damage to the u.s. economy. bloomberg learned top economic advisers are meeting today to discuss the potential probe as a way to pressure beijing on trade. this follows a phone call between president biden and his chinese counterpart xi jinping, in which president biden's frustration is with beijing's like of seriousness and engaging with his team. a question many parents are asking, especially as schools reopen,

mark: i'm mark crumpton with bloomberg first word news.nforcement in the nation's capital is on high alert ahead of a rally planned for saturday in support of those arrested after the january 6 insurrection at the cap building -- capitol building. national guard troops are on standby and fencing has been reinstalled around the building. organizers are protesting the federal prosecutions of hundreds charged in the insurrection. the capitol was breached by a group of trump supporters who wanted to prevent the certification of the 2021 presidential election. mr. biden spoke with nine other world leaders during a virtual meeting, saying there is still a lot of work to do and that the need for action has grown more urgent. president biden: while the climate crisis poses an exit 10 show threat, there is a silver lining. it also presents a real economic opportunities to create jobs and

i'm mark crumpton, bloomberg headquarters, new york. >> as we expect for demand to continue and our goale there simply for our customers. we expect more volati we have proven time and time again we have been there at the right time at the right moment. we have worked with one of the largest global consumer brands where we were seeing a lot of congestion and we were able to -- our technology to provide pop-up fleets for them instantaneously. that has really helped them. over the course of the last year, we have worked with one of the highest grossing fitness brands. in the midst of covid and moving forward, helping them with some of the p demand they were seeing in the market as well. emily: all right, transfixed president ceo lily shen. coming up, how the pandemic is trading new opportunities for founders, tech workers and investors. i will be speaking with the chair at the gym at -- at the coming form. let's get a look at stitch fix. the personal styling platform announcing the launch of stitch fix freestyle, an online boutique that constantly refreshes according to your preferences. th