美最高法院驳回特朗普限制邮寄选票动议

News when you want it with Bloomberg News now. I'm Nathan Hager and I'm Karen Moscow. Karen, we'll have the latest on the artificial intelligence controversy around the world, as well as new developments in the war in the Middle East. We begin this morning with a legal setback for President Donald Trump. The Supreme Court has rejected the president's bid to restrict mail ballots ahead of the midterm elections. The decision allows states to continue sending ballots under existing processes used by nearly one third of voters.

We get more from Bloomberg's Supreme Court reporter Greg Story. You recall about three weeks ago, the Supreme Court issued a preliminary order that basically said an earlier lawsuit challenging these rules had been filed too soon. And that set us off on this, you know, three weeks of uncertainty about whether states were going to have to make major changes to their mail ballot procedures in order to have those votes counted.

And the Supreme Court today said, you know, they don't have to make those changes unless Bloomberg Supreme Court reporter Greg Storm says the justices decision comes after North Carolina and Alabama have already begun mailing thousands of ballots to voters. And many more states are prepared to do the same in the coming days. Now to the latest from the Middle East, Nathan. Saudi Arabia is looking to boost oil supply through the Strait of Hormuz, after recent attacks forced it to shut down its key east west pipeline.

We get more from Bloomberg Middle East editor Patrick Sykes. This is Saudi Arabia's main plan B, uh, as in when the Strait of Hormuz gets shut and since the war started, in that vital waterway has been disrupted. It's been the main sort of outlet, along with, um, a similar pipeline, um, running to Fujairah in the United Arab Emirates. And Bloomberg's Patrick Sykes reports the pipeline will be out of service for several weeks, according to the Associated Press, though Energy Secretary Chris Rea told Bloomberg he expects it to be up and running very soon.

Meantime, the Pentagon's internal watchdog is acknowledging the war has strained the military's weapons, supplies, and inspector general's report says the US fired so many munitions in the first month, said it's likely to strategic inventory shortfalls and revealed industrial resupply bottlenecks. Now, Karen, to the issue that has caught the markets and Washington's attention reining in artificial intelligence. President Trump spent much of yesterday blasting anthropic and OpenAI for calling for a slowdown to their cutting edge systems.

The president even made a call about it to Nvidia's CEO, Jensen Huang, while he was on stage at a tech conference in Los Angeles. They're just playing right into the hands of a lot of people that don't want to see it happen, and that could be political people. It could also be China, and we're not going to let that happen. This is a hoax. Bloomberg's Anthony Stevens reports the president's hands off approach could put him at odds with voters.

You have the Trump administration, by and large, sticking to their guns, saying that this is a problem that can be solved, in the words of Kevin Hassett. But you do have the US speaker asking for a consultative approach, because there is this worry that this concern is reflected in the wider population. Bear in mind, we had those surveys showing that Americans are more worried about AI, for example, than the Chinese counterparts.

And Bloomberg's Anthony Stevens reports lawmakers are floating a range of proposals to address AI safety concerns, but Congress is unlikely to act soon. The House is leaving Washington on Thursday and won't return until after the midterm elections. Well, even President Trump's hands off approach to AI is also getting pushback from former President Barack Obama. The former president released a statement saying the technology could unleash potential catastrophe if not properly managed, and AI policy should be at the center of our public debate.

Obama statement did not mention President Trump by name, but he did say that voluntary standards made by a handful of companies won't be enough certainty markets. Now, Karen, yields on ten year Treasury bonds are trading near 20 year highs ahead of tomorrow's rate decision from the Federal Reserve. Right now the yield on the benchmark is at 5.02%. The fed is widely expected to raise short term borrowing costs for the first time since July 2023.

Laurie Calvert is head of U.S. equity strategy at RBC Capital Markets. A couple of hikes over the next 12 months shouldn't derail the market, but if you get too much more than that, and specifically if the ten year really breaks out sustainably above 5%, um, those are some risks, you know, to consider that would be more onerous longer term. RBC Capital Markets Lori Calvin has a 12 month price target of 8150 for the S&P 500.

That's about 6% above current levels. Shares of Bank of America led bank stocks lower yesterday. Nathan. It fell more than 5%. The drop came after CEO Brian Moynihan said trading revenue will be relatively flat compared with last year's third quarter. And Moynihan spoke to Bloomberg. Last year's third quarter was the recovery quarter from Liberation Day quarter, the tariffs coming in. I know it's hard to remember that far away, but all of us are running around saying, oh my gosh, you know economy's going to stop cold.

Third quarter. Oh it got understandable Peter everything kicked back in. So now you're comparing that quarter with this year's third quarter this year than the eye trade came in. And did you guys report about Korea and the leverage and all that stuff that all of us a lot of us come out of the system because people brought the risk down. Bank of America CEO Brian Moynihan, speaking to Bloomberg, said Dani Burger and Moynihan went on to say that he feels very good about the company's guidance for net interest income.

And that's news when you want it with Bloomberg News now. I'm Karen Moscow, I'm Nathan Hager, and this is Bloomberg.