he has a long history of finding his own presidential campaign -- mike bloomberg.xpected that he would give money to a super pac. but when it comes to melon we are just now starting to see what the full capacity of that influence is. >> as you said, a lot of people know who mike bloomberg is. they do not know who timothy mellon is. who is he, and how much of a big deal do you think it is that he's contributing to trump? >> it is significant. mello has also given to a super pac supporting kennedy as well as trump which plays into the complicated dynamics of the kennedy campaign's influence on the two main candidates. >> rfk jr. >> and one of the things that is not worth it, this is going to a super pac supporting trump. maga inc. run by trump allies. one of the big differences is that super pacs can spend unlimited sums, unlike campaigns that are limited. and the super pac really opens the door for more billionaires to pour. money in to influence elections. >> what about the impact of m oney, dark money? how prevalent is that this year? >> dark money is pouring into

with mike bloomberg, he has a long history of giving. to be expected that he would give money to joe biden or a super pac supporting him but timothy mellon's influence is much newer. >> as you said a lot of people know who mike bloomberg is, they don't really know who timothy mellon is is who is he and how much of a big deal is it that he's contributing to donald trump at this point? >> it's significant. he's also given to a superpac supporting kennedy as well as now to trump which plays into the complicated dynamics of the kennedy's campaign influence on the two main campaigns. >> r.f.k. jr.? >> that's right. micah inc is run by one of the trump allies. superpacs can raise unlimited sums and it really opens the door for more billionaires to be able to pour money into the influence the elections. >> what about the impact of money with america yearn origins, so-called dark money? how prevalent is that this year? >> dark money is pouring into u.s. election. dark money critics to superpacs. while super pacs have to disclose the origin of th

and new york billionaire mike bloomberg has donated nearly $20 million to biden's super paks.lk about this with teddy, a campaign finance reporter for "the new york times." great to have you. for an international all of a sudden, how is it possible to donate such large sums of money to politicns? >> after the united states decision about 15 years ago which was a supreme court ruling that made all this possible, major donors can contribute unlimited amounts to support american politicians, including people running for president, as long as the money is donated to outside groups. what that means is you can donate $50 million to support donald trump. you just can't donate it directly to donald trump. you can direct it to the a friend of donald trump's or a former aide who can spend the money on his behalf. >> what impact does that have on the outcome of an election? >> well, that would have been an easier question to answer 10 years ago. after that decision was made by the supreme court, we saw tons and tons of money flow into u.s. election and we always thought if you have more

the new york post reported rosen has met with fo form advisors to mike bloomberg to look at his chanceslf as a moderate republican looking for the gop nod, writing this, i'm not a politician, i'm someone who wants to make the city better, do i see a city that could be more liveable for everyone? yes. rosen remained neutral on mayor eric adams, stating i'm sure he's doing the best he can. and just to the point on crime, we've had two dozen shootings in the last week, we had a cop attacked, two cops attacked by an immigrant mob, illegal migrants raped a 13-year-old girl. so the stats are just off the charts. cheryl: the quality of life issues as well. you've got mopeds all over the streets, you've got the trash. i you mean, the only thing eric adams has done really so far effectively is with the rat problem, not that it's fixed but it's a little better. liz, it seems to me that new york city has always done better economically and quality of life, done better in that regard as well, when we've had a republican mayor. and voters here don't seem to understand that disconnect for some reason

but not much else. >> mike mckee i will see you in about 24 hours time so i will let you go for now. that's bloomberg's mike mckee. let's bring this to the markets because joining us now we have the all spring investment senior portfolio manager. let's start on that thought. you think about the economy right now the fact we've been living in this higher for longer environment for what feels like a long time. on the cusp of the fed june meeting how rate sensitive is corporate america and the economy overall now. >> clearly not that very sensitive is mike point out. consumers and business in the last decade refinancing locking in those very low rates. particularly long-term rates so they are really not sensitive to increases in short-term previous cycles. and we've only had one negative quarter in the beginning of 22. so it doesn't look like there's a recession. it looks as if the economy will chug along at a modest rate and inflation looks like it wants to say a little bit higher than the fed's 2% off the break. i think the fed is flummoxed because the market isn't doing what it should do according to t

and with biden, it's mike bloomberg. it's melinda gates foundation. the key is how are they going to spend that money? because to mj is point biden has already had months that you cannot replace of creating all of these grassroots office this is across the country when we all know that advertising dollars are worth less and less in this fragmented environment. so even if the trump campaign pours a lot of this into advertising, it's hard to say that this gives him a big advantage or even brings them to parity because of all the investment that's been made already by the biden campaign and the trump campaign relying on bilinears, i just want you to look at this graphic on your screen, billionaires backing trump. this is all from 40 is someone who is at a 47 billion in net worth is jeff yass all the way down to john paulson within paltry $6 billion. >> there. i'm being sarcastic if you couldn't tell, but i significant amounts of money, these are the people backing donald trump. so i mean, he obviously is going to be well-funded heading this campaign. wha

we should note news broke that mike bloomberg billionaire, one time presidential candidate made a significantrtainly a chance for more there as well. this is a race that is awash in cash. after trump was convicted in new york city, this hush money trial, his team said they expected the money to roll in and it did. president biden and his team had a strong month. $85million but it was dwarfed by what trump and the republicans did. he's managed to close the gap in what had once been a major advantage for biden. >> i frankly was shocked by just how much trump raised in the 48 hours after the conviction because his team had predicted is something like around $52 million and it ended up being closer to 70. just in the 48 hours after the conviction. biden had such -- there was such a huge gulf between the two candidates. you would hear from the trump campaign primary's over, we're going to make up this and they really did. he always has be able to operate a relatively lean operation. now he's even more well funded going into the summer cycle. >> we don't know how much money he has on hand and of co

mike cudzil. welcome to bloomberg markets. you take a look at markets on this friday morning and at least on the s&p 500, taking a little bit of a breather. we closed at another all-time high yesterday. currently off by .3%. we will see how that changes as the day moves on. in big tech, little green light. the nasdaq 100 currently higher by .1%. it had been hired by a little more a few minutes ago. the bond market rally continues to accelerate. 10 year yields lower by four basis points. we could crack 4.2% in short order. breaking consumer sentiment crossing the terminal, mike mckee has the details. mike: wall street thinks things are going pretty well but not the american people. the university of michigan headlines sentiment index falls to the lowest since last november, 65 point six, way below the 72 expected. current conditions fall. expectations fall to 67 point six from 68.8. americans did not get the cpi and ppi message come when you're inflation expectations unchanged 3.3%. we have a conversation about this on the term

mike. that does it for "bloomberg markets -- "bloomberg crypto." join us again next wednesday.is is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. >> from the world of politics to the world of business, this is "balance of power." live from washington, d.c. joe: it's another primary day. look at the fastest show in politics. we are looking into virginia and oklahoma. i'm joe mathieu alongside kailey leinz in washington. it's interesting, donald trump finds himself competing with the freedom caucus here

appreciate the preview, thanks to bloomberg's mike mckee. spring this conversation to the markets.oining us is katerina, morgan stanley's senior portfolio manager. great to have you here to kick off this week. that stock about your expectations for wednesday, but also the year ahead. maybe not rate hikes in the future but do you think this is a fed that will be able to cut rates this year? >> katie, thank you for having me on the show. this year is quite full of surprises. especially as we look at wednesday. this is data-dependent and data has been mixed. inflation is coming down but not quite as quickly as they want for it to be. manufacturing is improving. we are heading a strong labor market but consumer spending is coming down and we see consumers being more and more dependent on the strong labor market as there are rising concerns about the credit card debt. meanwhile, this economy has been overall growing. how do you make this decision? it will be -- would be perfectly natural that the fed would want to postpone the decision of the rate cuts that the markets put so much empha

bloomberg's mike mckee joins us. let's start with the may cpi, flat month over month in may. mike: i feel at the halftime host giving highlights of the first half because we are only half way through the day and we have to get to the fed decision and jay powell's news conference. started off on a good fit next foot because cpi comes in lower than -- foot because cpi comes in lower. driving down the year-over-year which wasn't expected. the core comes in up just .2 percent wish -- which pushes it down. a good result. what did we see happen? basically, the super core for the month comes in negative for the first time in many months and that is good news for the fed because they have been anticipating that. you can see what we see on our function, you can see the breakdown of what happened. the overall number basically did. what did the undercarriage look like, the biggest contributor is gasoline, down 3.6%. that is good news. motor vehicle insurance down for the first time since october 2021 following used cars lower -- not used cars but new cars lower .5%. used cars have alway

mike bloomberg made a significant gift to those groups supporting president biden.cted the money to roll in, and it did. he's managed to really close the gap. what had once been a major advantage for biden, just having a lot more money on hand. >> i frankly was shocked by just how much trump raised in the 48 hours after the conviction. his team predicted something around 52 million and it ended up being closer to 70 just in the 48 hours after the conviction. there was such a huge gulf between the two candidates. you would hear from the trump campaign, the primary is over, we're going to make this up. they really did. one thing about trump is he has always been able to operate a relatively lean operation, but now he's even more funded going into the summer cycle. >> of course, some of the money he does raise is going to his legal bills, an issue that president biden does not have. >>> on the latest episode of "inside politic," here's what jen o'malley said. >> joe biden is going to stand on that stage and he is going to show what he showed in 2020, that he is in this

mike mckee. this is bloomberg. ♪ gotcha. take that. whoa! bruh! i'm fine. that smack looked bad. the smack down i'm giving you. you sure you're, ok? you know you're down 200 points, right? lucky, she convinced me to get help. i had a concussion that could've been game over. in actual reality, you've only got one life. don't mess with your melon. if you hit it, get it checked. >> good morning from london. i'm anna edwards. cash trade one hour away. the bank of japan delays bond buying.

mike sheppard of bloomberg.bout an industry in its in the -- in its infancy after we talked about a market cap on nvidia at $3 trillion. lisa: it feels like someone regulating a kid on their iphone that has had it for five years and has it attached to their other devices and has waist to access it. on your iphone you will delete this app, and they are like, ok. jonathan: come on. coming up, the quote steady as she goes job market. this is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experienc

bloomberg markets" for the day and for the week. what a week it has been. stocks down on the day but up on the week. stick around for mikeview in a few minutes. that's a big one after this week. this is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. people couldn't okaysee my potential. for. so i had to show them. i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. today i'm the ceo of my own company. it's the way my mind works. i have a very mechanical brain. why are we not rethinking this? i am more... i'm more than who i

mike mckee, thank you for joining us, bloomberg policy and economics correspondent.et's turn to the markets. joining us now is stephanie guild, robinhood financial head of investment strategy. great to have you here to talk about what we have seen in the past few days. nvidia, drop, drop, drop. i'm guessing investors, retail investors who are waiting now see this as a sign to get in there. stephanie: when you look at the robinhood investor index that tracks what customers are doing, nvidia is a core position in the top 10. we see customers trading around their core positions. when it goes up, they tend to trim and when he goes down they tend to take opportunity to step in a bit more. my guess is they are probably doing the same for nvidia. matt: people talk about it as the most important stock in the world. there was a split.does that make it easier for retail investors to get indoors the market now where it is easy to buy fractional shares? stephanie: we have fractional shares and you can buy them at other places. i don't think a split is meaningful in terms of inve

bloomberg's josh wingrove ahead of biden's trip to the g7. mikeit is needed for a rate cut. a harder than expected jobs report muddying the path to rate cuts. leaving investors wondering is good news now bad news? troy joins us now for more. let's start there. the data on friday, was a good, was a bad, i guess it depends on where you look. troy: it depends on the asset class. it is incredibly good news. equities have higher yields, tied to this mornings's futures as well. 21.1 times four earnings. the upside is path as long as the numbers stay high. fixed income continues to be bad news. everyone that expected to cut rather aggressively wants to be wrong yet again. we expect that to continue. we don't expect any meaningful move that these levels. jonathan: what do you think about wednesday and the news conference with chairman powell? it says reach for the tin hat, if you talk about the establishment survey it says let's talk about higher rates. troy: the data is murky as you highlighted this morning. surveys are painting different pictures of the

our restaurant analyst for bloomberg intelligence is it joining us. it seems like this was fear overall. mike: it restaurant sales have been weak. it was a relief they were still able to beat on the bottom line even delayed the top line is being pressured by low income consumer spending. katie: is there anything we can extrapolate out to the consumer, and retail we talk about the trade down we are seeing it. are we seeing a similar dynamic play out in the restaurant industry? michael: restaurant sales have been weakening for a year now. typically as usual they are a canary in the coal mine. the sales tend to fall off before other sectors in a slowdown. this year has been especially tough. consumers are dealing with for years of inflation and price hikes at restaurants. they are dealing with higher prices by racking up credit card debt and credit card delinquencies and auto loans are increasing. they are under pressure and don't see the same value at a restaurant visit and they're probably trading down at the grocery store and making more meals at home. katie: i appreciate your view. breaking

stasis in the yield space -- coming up, mike wilson of morgan stanley saying growth is more important than inflation. bloomberg'srs and greg peters of pgim saying it is still time to take on risk but with an eye towards the uncertainty in the political sphere. we begin with our top story, nvidia looking to bounce back from a $430 billion slump. mike wilson expecting era markets to continue, writing "we continue to recommend a barge fell of large-cap quality growth with defensive's while fading lower quality cyclicals and avoiding the potential to play for true bartering out. " mike, wonderful to speak with you. you've been talking about this for a while, does not necessarily all boats will be lifted by the ai enthusiasm. what is your take await from volatility and that we have not seen a broad announced, is a contagion or real market weakness. mike: the market is smart as usual. we go back to our may narrative which is probably not consensus. the policy mix we have had is unusual. we had a strong fiscal policy which is keeping pressure on the fed. we know the rate is too high and that is crowding out a good part

mike collins. the second hour of "bloomberg surveillance" is up next. ♪ her uncle's unhappy.rlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. >> we are clearly back on a path of progress. >> jay powell is holding all the chips. inflation continues to come down. the glide path is intact. >> this is an economy that for the moment is still hanging in there. >> it matters when you start the cutting cycle. >> absolutely september is in play. announcer: this is "bloomberg surveillance." jonathan: it is thursday. just a reminder if you are tuning in. from new yor

bloomberg crypto. sonali: we are going to have a live exclusive interview in studio with the galaxy digital's mike nova from bitcoin to ethereum to lending. tim:tim: we will be joined by coinbase's head of particle and the creator of base jesse pollock as investors await potential ether

coming up, mike lynch was accused of pulling off silicon valley's biggest ever fraud 13 years ago. we have all of the details next. he has now been cleared. this is bloombergechnology. ♪ whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh ed: softbank travel app is said to be planning a $400 million ipo in the united states. sources say the start is eyeing a launch in july with a valuation of between $7 billion and $9 billion. a final decision has not been made. ai startups in silicon valley are

house speaker mike johnson laying out his expectations for tonight's debate, where the acuity and temperament of joe biden and donald trump will be front and center. welcome back to bloomberg'sal coverage of the cnn presidential debate. joining us from the spin room in atlanta's bloomberg opinion's knee and malika henderson. as much as here at bloomberg we want to talk about policy and substance, is that what tonight is really about? >> no. it's really about presentation and about performance. historically debates have been about that. think about what is going to happen. we are going to see these two candidates, people are very familiar with them. they are going to mainly digest this in clips. they are not necessarily going to sit and watch for 90 minutes. millions of americans obviously we'll and if you are joe biden you are going in knowing that millions of americans have questions about your age. if you are donald trump, you are aware that millions of questions -- millions of americans have questions about your temperament. and so you go into night if you are these two candidates, the president and the former president, thinking about that, how to overcome some of those

up next, we will get the latest spots from mike mckee still with us around the table. from new york, this is bloombergvanguard's retirement solutions can help all your employees be well on their way to their financial goals. that's the value of ownership. ♪ jonathan: we are one hour away from the opening bell. equity futures are positive by a quarter of 1% on the s&p 500. the nasdaq up by half of 1%. in the bond market, plenty of volatility in the last 10 minutes or so. on a 10 year, we will talk more about that data in just a moment. i want to turn to foreign exchange. looking for that first rate cut from a major central bank. none of the others are major. i'm going to keep defending people in switzerland. just about unchanged on the euro. we believe that there. under surveillance this morning, intel announcing another investment program as it works to keep up with competitors. the chipmaker agreed to sell 49% of an irish plan to bring in much-needed funding as the ceo pursues an ambitious turnaround plan. >> this to me as one of the more interesting stories because we always talk about infrastructur

mike wilson at morgan stanley. that's next on the program or your watching bloomberg surveillance. ♪ this is clem.erson. or a...people person. but he is an "i can solve this in 4 different ways" person. and that person... is impossible to replace. you need clem. clem needs benefits. work with principal so we can help you help clem with a retirement and benefits plan that's right for him. let our expertise round out yours. jonathan: no drama here. down on the benchmark on the s&p 500. under surveillance this morning beyond big tech. >> because of the ai narrative in particular we see people perceive certain boats as lifeboats when they have holes in them. people are running to different sides of the boat. it can actually remain fairly stable. it's not just the mag seven that's high quality good. there's some good high-quality growth stocks outside of tech that is been performing well. jonathan: disappointing earnings forecast for micron. the ai fueled rally. joann looking beyond the big tech writing this, the lower interest rates and betting prospects appear to have driven the market higher. the bu