Israel Strikes Iran; Trump Court Victory on Protests
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Good morning, I'm Nathan Hager. And I'm Lisa Mateo. Here are the top stories we're following today. Lisa, these major moves in global markets come after Israel launched waves of airstrikes against Iran's nuclear program overnight. The operation targeted Iran's nuclear scientists and generals, killing a number of high-ranking military officials. Israeli Prime Minister Benjamin Netanyahu announced the strikes in an overnight message.

Israel will never allow those who call for our annihilation to develop the means to achieve that goal. Tonight, Israel backs those words with action. We struck at the heart of Iran's nuclear enrichment program. We struck at the heart of Iran's nuclear weaponization program. We targeted Iran's main enrichment facility in Natanz. We targeted Iran's leading nuclear scientists working on the Iranian bomb.

We also struck at the heart of Iran's ballistic missile program. The country's defense minister, Israel Katz, said he's declaring a state of emergency after what he described as a preemptive strike against Iran. Well, Nathan, now comes the response from Iran. Israel says Iran launched...

over 100 drones toward Israel and that their air defense systems are responding. In a televised address, Iran's armed force spokesperson said Israel and the US will receive a quote, harsh blow. Tehran University professor Mohammad Morandi says Iran has no other option. The only way forward is to make sure that the Israeli regime regrets attacking Iran, Iranians and infrastructure that is legitimate.

and which is monitored regularly. Professor Mohamed Morandi at Tehran University. Iranian state media say the strikes killed the head of Iran's Revolutionary Guard Corps and the military's chief of staff. At least two other senior Revolutionary Guard Corps officials were also killed. And hours before the attack, Lisa, President Trump said he hoped Israel would not strike Iran. Well, I don't want to say imminent, but it looks like it's something that could very well happen.

Look, it's very simple, not complicated. Iran cannot have a nuclear weapon. Other than that, I want them to be successful. I want them to be tremendous. We'll help them be successful. We'll trade with them. We'll do whatever is necessary.

President Trump's words appear to have gone unheeded. Secretary of State Marco Rubio put out a statement after the attack saying the U.S. was not involved and warned Iran not to retaliate against American interests in the region. Later, President Trump told Fox News he was not surprised at the attack and said he had spoken with Prime Minister Netanyahu several times in recent days.

That's his reaction around the world pours into the escalation, Lisa. Former NATO Supreme Allied Commander in Europe, Wesley Clark, says Israel forced America's hand. President Trump does not want a war. He said that. But also he does not want an Iran to have nuclear weapons. So I think...

Prime Minister Netanyahu has taken the decision away from President Trump at this point. Retired General Wesley Clark spoke to Bloomberg overnight. These Israeli strikes come after the U.S. ordered some staff to leave its embassy in Baghdad and authorized families of military service members to move out of the Middle East.

Well, Nathan, we saw immediate major moves in the markets following the attacks. At one point, oil surged 13%. Right now, Brent crude at $73 a barrel, up about 4%. Defense stocks on the move this morning. Shares of Lockheed Martin are up 4%, while Northrop Grumman are up 2%. Oil-related stocks also rising. We have Halliburton, ConocoPhillips, and Schlumberger are at least up

We'll continue to monitor the situation in the Middle East, of course, Lisa. But let's move now to the latest on the anti-deportation protests in Los Angeles. The situation does appear calmer now after three nights of curfews in the downtown area where demonstrators had been clashing with police. Last night, California Governor Gavin Newsom touted a legal victory in his fight with President Trump over National Guard deployments in the city. Courts have ruled on the Guard. They will be back under my command and he'll be relieved immediately.

Donald Trump were believed of his command at noon tomorrow. Well, that comment from Governor Gavin Newsom may have come too soon, though. A federal appeals court put the judge's order on hold, allowing the Trump administration to continue using the military to deal with the protests. Another hearing on the case is now set for Tuesday.

Well, meantime, in India, investigators are searching the site of yesterday's deadly Air India plane crash. Prime Minister Narendra Modi, well, he met with the lone surviving passenger of the crash that killed 241 people on board and several people on the ground. The London-bound Boeing 787 struck a medical college hostel when it fell into a residential area in northwestern India. Just minutes after takeoff, here is Air India CEO Campbell Wilson.

I would like to express our deep sorrow about this event. This is a difficult day for all of us at Air India and our efforts now are focused entirely on the needs of our passengers,

crew members, their families and loved ones. Air India CEO Campbell Wilson. Local media say at least one of Boeing's Dreamliners black boxes had been found. It's unclear whether that black box is a flight data or cockpit voice recorder. I'm back here in the U.S. Lisa. Local politics are front and center in New York City once again. The race for mayor.

Good morning, Nathan. The 33-year-old socialist state assemblyman Zohan Bamdani has become one of the top contenders in the race. He also found himself the target of jabs from former Governor Andrew Cuomo. Amen.

I'm not Mr. Mondani. I'm not anti-Semitic. I'm not divisive. I didn't say I would boycott Israel. Mondani tried to knock Cuomo off his perch atop the polls. You have received millions of dollars in funding.

From the very billionaires who put Donald Trump back into office. And then city controller Brent Lander took this shot against Cuomo. Everybody here knows that you sexually harassed women. Cuomo, who's in the midst of a political comeback after resigning as governor over a sexual harassment scandal, has long been the favorite. The city's Democratic mayoral primary, June 24th, has in some ways narrowed into a contest between Cuomo and Mamdani.

The winner of the Democratic primary is going to face off in November against incumbent Mayor Eric Adams, who's opted to run as an independent. And in the interest of disclosure, Michael Bloomberg, founder and majority owner of Bloomberg LP, has endorsed Cuomo. I'm John Tucker, Bloomberg Radio. All right. Thank you, John. Let's turn back to the markets now with a focus on tech.

of Advanced Micro Devices says its latest AI processors can top NVIDIA's. At a company event yesterday in California, Lisa Su said the new installments in AMD's MI350 chip series are faster than NVIDIA counterparts and also represent major gains over earlier versions. She expects the AI market to surpass 440

$500 billion in the next three years. AMD's MI400 series comes out next year. Yeah, and sticking with the AI theme, Lisa, Meta Platforms has finalized its $14.3 billion investment in scale AI and has recruited the startup CEO. Scale's Alexander Wang will join Meta's super intelligence unit we told you about earlier this week focused on building AI that performs as well as humans.

Wang will also remain a board member at scale. This is all part of Meta CEO Mark Zuckerberg's efforts to make AI a top priority. He's earmarked tens of billions of dollars for artificial intelligence-related infrastructure and hiring.

Time now for a look at some of the other stories making news in New York and around the world. For that, we're joined by Bloomberg's Michael Barr. Good morning, Michael. Good morning, Lisa. The judge in Harvey Weinstein's sex crimes retrial declared a mistrial on the remaining charge after the jury foreperson declined to deliberate again. The jury found the former movie mogul guilty of one criminal sex act but not guilty on another. Manhattan District Attorney Alvin Bragg says his office is ready to go again. We immediately informed the court.

that we are ready to go forward to trial again on that charge after conferring with Jessica Mann. Weinstein denies all the charges. In the middle of his sex trafficking and racketeering trial, a new lawsuit has been filed against Sean Diddy Combs. A former girlfriend is now suing, alleging she was coerced into traveling to see the rap mogul and having sex with him.

Reaction continues after a U.S. senator was forcibly removed from a news conference. Alex Padilla of California interrupted a news conference in Los Angeles being given by Homeland Security Secretary Kristi Noem. Senator Padilla approached the podium, was stopped by security, and then pushed outside and handcuffed.

Reaction from both sides of the political aisle has been swift. Democrats criticized the move and Senator Padilla says this was indicative of overly harsh tactics. I was there peacefully. At one point I had a question. And so I began to ask a question.

I was almost immediately forcibly removed from the room. I was forced to the ground. Secretary Noem. I don't even know the senator. He did not request a meeting with me or to speak with me. So when I leave here, I'll have a conversation with him and visit and find out really what his concerns were. I think everybody in America would agree that that wasn't appropriate. Padilla says he tried to ask Noem about people arrested with no criminal record.

Global news 24 hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr and this is Bloomberg Lisa. Thank you, Michael.

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Time now for our Bloomberg Sports Update. For that, we bring in John Staschauer. Good morning, John. Good morning, Lisa. The ratings have not been good, but people are missing a heck of a Stanley Cup final, and there'll be at least two more games, maybe three. The third overtime game of the series didn't look that way when Florida led 3-0 in the second period. Edmonton then led 4-3 in the final minute of regulation when the Panthers' Sam Reinhardt tied the game, so it was once again off to sudden death. Breaking free is Dreisaitl to the net. Oh!

Leon Tricidal has tied the six with his fourth OT winner in the playoffs. Final score, Edmonton 5, Florida 4 in overtime.

Jack Michaels is the radio voice of the Oilers. Dreisaitl's four overtime goals is a record. He's had two in this series. At 2-2, they're heading back to Western Canada for Game 5 tomorrow. Game 4 of the NBA Finals tonight. Indiana up 2-1, hosting Oklahoma City. J.J. Spahn, 34 years old, yet he's never finished the top 20 of a major. Had only qualified to play the U.S. Open once before in 2021. Spahn,

with a bogey-free 4-under par 66 to lead the U.S. Open at Oakmont by one shot. Two-time Open winner Brooks Koepka, who's been quiet in recent years, only two shots behind. Scottie Scheffler had six bogeys, shot three over. Rory McIlroy had a 41 on the front nine. He is plus four. Yankees and Royals sat through a rain delay in KC, but finished the series with the Yanks scoring an

unearned run in the eighth inning to win 1-0, so a Yankees sweep their second against the Royals. They played tonight in Boston, dropped 2-3 to the Red Sox last weekend in New York. Mets finished a sweep of the Nationals, 4-3, improving to 27-7 at Citi Field. Jeff McNeil, three-run homer in the first inning. Brandon Nimmo, a solo shot in the fifth. Kodai Senga got the win, but hurt his hamstring, and Senga was put on the injured list. John Staschauer, Bloomberg Sports, Lisa and Nathan.

Coast to coast on Bloomberg Radio. Nationwide on Sirius XM. And around the world on Bloomberg.com and the Bloomberg Business App. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. On the morning after a major escalation in the ongoing conflicts in the Middle East, overnight Israel launched a wave of attacks on Iran's nuclear and ballistic missile programs in what Prime Minister Benjamin Netanyahu is calling Operation Rising Lion. How is Prime Minister?

I've made it clear time and again, Israel will never allow those who call for our annihilation to develop the means to achieve that goal. Tonight, Israel backs those words with action.

Israeli Prime Minister Benjamin Netanyahu spoke in an overnight address to his nation last night. This morning, we are joined from our London studios by Bloomberg News Jerusalem correspondent Dan Williams and Bloomberg Horizons anchor Jumana Bersetchi. Thanks to both of you for being with us. Dan, I'll start with you. What do we know so far about the extent of the attack and the damage done? Good morning.

Good morning. This was certainly unprecedented. It was certainly wide scale. I think to judge by what the Israelis are saying, there's more to be done as far as they're concerned. The primary target was the Iranian nuclear program, which they say was on the verge of

of a potentially irreversible development in the direction of weaponization. However, they also targeted senior personnel, both from the nuclear program and from the military, the chief of staff, the head of the IRGC. This is something that everyone was expecting on a strategic, perhaps theoretical level, going back almost 20 years. There was a time when many speculated that Israel was actually bluffing about doing this, given operational limitations and the like.

Now it appears that Israel has delivered and is prepared to deliver even more. Perhaps not a surprise in terms of whether this would come, but maybe a surprise in terms of how quickly it might have come at this point. Jumana, what is the risk of wider war now? What is the risk of retaliation from Iran? There's definitely a major risk of retaliation from Iran. They have vowed to fight back.

and that the response would be quite harsh in nature. But then you also have to acknowledge the fact that the Iranian regime is clearly on the back foot. Several of their very senior commanders were taken out on this strike. Many of their main facilities, nuclear facilities, were hit. But not, I should also just reiterate, not entirely defunct now. They have been damaged, but defunct.

This is why on the Israeli side, they're saying that there is more work to be done so that they can ensure that Iran don't go down the route of further nuclear enrichment. But then there are several ways Iran could respond. They sent over 100 drones this morning. Most of them intercepted. It caused limited damage.

They could also start mobilizing their proxies around the region. There were some concerns that you might start seeing attacks come through from Syria and from Jordan. Earlier this morning, there were reports that, again, several drones were shot down over Jordanian airspace as well. In Lebanon, there's concern that perhaps they would look to reactivate Hezbollah. But all of these proxies are operating in a diminished capacity with many of their military and also military

influence waning in the region given the events of the last couple of months. But one also factor that we've been talking about that's very crucial for global markets is perhaps what Iran could do on the oil front and potentially causing disruptions on the Strait of Hormuz, which is why initially you saw that 10% plus reaction in the price of oil today. So far, though, no oil infrastructure has been hit. Now, we have also heard from Iran that they're saying that Israel could not

have carried out an attack like this without either U.S. coordination or U.S. support in terms of backing of support for Israel. Dan, what is Israel saying at this point about U.S. potential involvement in what's been going on here?

I think there's a pro forma, at least, effort by both the allies to place daylight between themselves when it comes to the strike. However, there are geographical realities that are inescapable and unignorable. Israeli planes would have to traverse...

one at least CENTCOM member country, CENTCOM being the US military command involving countries like Saudi Arabia, the Gulf principalities. And it's safe to assume that CENTCOM would have been aware of the planes coming in. Those countries would have been aware and at least gave tacit assent

to these planes conducting the mission. There's also the issue of diplomatic cover, defense cover. There's a big difference between the Americans saying they had no knowledge of this and actually putting their foot down and perhaps imposing sanctions if they were truly opposed to it. For now, there's every indication they were not opposed to it.

They were seeking to distance themselves, perhaps sit on a fence. The big test, I think, is if and when the Iranian escalation, sorry, the Iranian retaliation escalates, whether Israel will be left to fend for itself alone or whether the United States and other partner countries will step up, assist in the defense as they did twice last year.

What about the possibility of other parties in the Middle East getting involved in this conflict? Jumana, is there a risk of that? I think it was really notable this morning that one of the first foreign ministries that put out a statement was the Kingdom of Saudi Arabia. And of course, we have to go back to 2019. You will recall that there was a Houthi attack on Abqaiq, which is one of the key

refineries in Saudi Arabia in response to global tensions at the time. And there has been a notable improvement in the diplomatic relationship between Saudi Arabia and Iran since then that was broken together by China in March of 2023. And since then,

What Saudi Arabia have been consistently saying is they want to see de-escalation in the region. And so this morning, they put out a statement, the foreign ministry put out a statement saying that they condemn these attacks and once again would like to see the region de-escalating. UAE, similar tone as well. So from other major Gulf Arab states, what you are seeing is an inclination to make things better, to bring down the temperature as opposed to add fuel to fire. But of course,

If there are further attacks on Israeli soil, then there's going to be a question as to which countries in the region may offer their airspace or may look to implicitly allow that to happen. And I think we are entering into a critical couple of days now to see exactly how Saudi Arabia, UAE, Qatar will respond if Iran continues along the lines of retaliation as they have vowed to do so.

Dan, we have about a minute left. Is there a political dimension to this? We just saw Israeli Prime Minister Netanyahu survive a vote to dissolve his government this week. I think this certainly is. There may even have been low-scale U.S. intervention in that political crisis to persuade coalition members who thought of leaving the coalition this was not the time to do that, hinting that there were strategic matters afoot.

Certainly, if this succeeds, and time will tell if it has, this will help his standing. It's worth remembering that he's largely shaped his legacy around the question of Iran, which Israel sees as its chief adversary, the chief threat to its existence.

And if this succeeds in Israeli terms, that may be enough to polish his legacy, which was severely dented by the October 7th attack, which really set into motion this entire regional war. This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m. Eastern each morning on Apple, Spotify or anywhere else you listen. You can also listen live each morning starting at

5 a.m. Wall Street time on Bloomberg 1130 in New York, Bloomberg 99.1 in Washington, Bloomberg 92.9 in Boston, and nationwide on Sirius XM Channel 121. Plus, listen coast to coast on the Bloomberg Business app, now with Apple Podcasts.

CarPlay, and Android Auto interfaces. And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Nathan Hager. And I'm Lisa Mateo. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.

Thrivent can help you plan your finances for the people, causes, and community you love. What makes Thrivent different? Financial services and generosity programs are combined to help you build a financial roadmap for the future while also creating opportunities to give back along the way. Visit Thrivent.com to learn more. Thrivent, where money means more.

In business, plans change fast and your brand has to keep up. That's why teams rely on 4imprint for promotional products that deliver. 4imprint offers thousands of options including apparel, drinkware, tech, and trade show gear. Many available with 24-hour turnaround, helping you move quickly and never compromise in quality. You'll enjoy free samples, expert support, and every order backed by their 360-degree guarantee. So it arrives right and on time. Explore more at 4imprint.com. 4imprint.

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