油价下跌科技股重挫，非农报告今日出炉

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 peace talks with Iran. President Trump is hailing progress in indirect discussions as both countries look to move past last week's tit fortat strikes. The president's son-in-law Jared Kushner and envoy Steve Whit are in Qatar for technical discussions. President Trump says he's aiming for lasting peace. >> The den nuclearization of Iran is moving along well. They've had very good meetings and we'll see. We hit them very hard for three nights as you know, but we're getting along very well. >> President Trump isn't specifying what, if any, breakthroughs have been made. Vice President JD Vance says technical talks carried out by lower level negotiators are continuing. >> Meanwhile, Nathan, oil falling for a third straight day as flows through the straight of Hormuz climb. Checking prices right now, West Texas Intermediate is down more than 1% at $67.84 a barrel. Brent is also down about 1% at $70.81. And President Trump is touting that as well. >> Those boats are coming out of the hormones straight. They're coming out by numbers that nobody ever saw. We're setting records, actually. The oil is dropping. We have some great oilmen here. I don't know if they're happy or sad. I don't give a damn if they're happy or sad. I want the prices to go down. And the oil is dropping like nobody thought possible. >> President Trump made those remarks in North Dakota following his tour of the Theodore Roosevelt Presidential Library. Oil stockpiles in the US have fallen to their lowest level since March of last year. Inventories outside strategic reserves are around 1.2 billion barrels after 12 straight weeks of declines. >> Well, Karen, the other major war overseas appears to be ramping up. Ukrainian officials say Russia carried out one of its most intense drone and missile strikes on Kiev this year, killing at least 13 people and injuring dozens. The country's foreign minister is calling for more air defense support from allies, calling the attacks quote grave war crimes. Meanwhile, Russia is indicating Ukraine may have used a ballistic missile in combat against it for the first time. The Kremlin says its air defenses shot that missile down. >> All right, let's stick with geopolitics. Nathan, the US is suggesting giving greater benefits to NATO countries that spend more on defense. US ambassador to NATO Matthew Whitaker raised the prospect of a two-tier alliance in an interview with Fox News. >> You know, we are going to be in Ankura and we're going to have the first report card. We're going to demonstrate that our allies are stepping up, that they've spent in the first year since the HEG defense commitment over a hundred billion dollars on hard defense and capabilities and a commitment uh to to that increasing that and ultimately equalizing with the United States. It's significant and it's only because of President Trump. >> US NATO ambassador Matthew Whitaker's remarks come ahead of a NATO summit in Turkey next week. President Trump is scheduled to attend. Germany's foreign minister is already rejecting Whitaker's proposal. He tells the German magazine Dur Spiegel, quote, "NATO is not about blind obedience." >> Karen, the Securities and Exchange Commission is looking into claims from Susuana International Group that unknown insider traders made hund00 million on options bets ahead of a Chinese regulatory crackdown. The Quant Trading Firm went public with its claims in a lawsuit this week. says it lost more than $70 million on most of the alleged trades. A federal judge granted Susuana's request for an order freezing accounts at Interactive Brokers as well as platforms at Futu and Up Fintech Holdings. In the interest of transparency, we should note that Interactive Brokers advertises on Bloomberg radio. >> Let's turn to the economy now, Nathan, and a key piece of data ahead of the July 4th holiday. We get the June jobs report this morning, and Bloomberg's Michael McKe joins us with a preview. The holiday shortened week means June jobs are reported a day early this month and traders won't have as much time to guess what the data mean for the Fed. Recent hiring has been strong and the unemployment rate stable. Most Fed officials, including new chairman Kevin Worsh, have said they're not worried about the labor market sending any signals about a slowdown in the economy. Their main concern at the moment is inflation, which puts more emphasis on any change in average hourly earnings. They have been falling, but if hiring is picking up, that could reverse, raising fears the Fed will be raising interest rates. Michael McKe, Bloomberg Radio. >> Well, ahead of that report, Karen, we have heard from Fed Chair Kevin Wars. She spoke at the ECB's annual forum in Centra, Portugal in a panel with other central bankers. Walsh says price risks have come down in recent weeks, and he is determined to bring inflation back to the Fed's 2% target. We don't want to overdetermine things, but if there were people in household or the business sector in the financial markets who thought that this central bank was going to be comfortable with an inflation objective above 2%. Well, I guess they'd be disappointed. >> Fed chair Kevin Worsh also announced he's tapped former Bank of England Governor Mvin King to co-chair the Fed's new task force on communications. To markets now, Nathan, a massive sell-off in Asian chip stocks is reviving concerns that the AI rally has gone too far too fast. And South Korea's Cosby, which is heavily exposed to the sector, fell by almost 8%. Shipmaker SK Heinix, which makes up close to a third of the index, sank 14%. Charlotte Yang is an Asia equities reporter for Bloomberg News. because of the promise they have uh to track the performance they have to go through rebalancing process every afternoon which is buy into the rallies and sell into the declines. So this mechanical flow will happen regardless of the views on the fundamentals and because of the size of this product and also together with the smaller peers on volatile days they can contribute to around 60% of skhik's daily turnover and bloom Charlie Yang's reporting comes as Meta also announces planning a new cloud business that will sell AI computing capacity >> and another note out of the tech world Karen permable tech analyst Dan Ies is leaving Wedbush Securities he's planning to launch launch a new firm that'll include research, capital raising, advisory, and investing. Ives describes it as a modern merchant bank across sectors such as tech, energy, infrastructure, and financials. Iive says he will continue as a research analyst and commentator on TV and radio. >> Well, Nathan, let's turn now to the latest on the sweltering heat wave across the Mid-Atlantic and Northeast. Bloomberg meteorologist Craig Allen says the most brutal part of the forecast comes today and tomorrow. New York City topped out at 93 yesterday, could approach 100 today. Newark got to 99 yesterday. Boston hit 92. You could probably add another four to six degrees on to that. And Washington, Dallas broke a record at 97 and you could easily reach or top out above 100. And of course, the heat index with the high humidity will give the feel of a sweltering 105 to 115 in many places. Nights probably won't get below 80 in the urban areas, too. And as for brief cooling thunderstorms, as for a little bit of help, chances are slim until we get to the July 4th weekend. >> And Bloomberg meteorologist Craig Allen there. Power prices from New York to Virginia are surging as heat threatens to overwhelm grids heading into the holiday weekend. >> Moving from the hot weather, Karen to a hot ticket. New York City is preparing to host the nuptials of Taylor Swift and Travis Kelce tomorrow at Madison Square Garden. Sources say about a thousand celebrity guests are expe