Now looking at none to one. This is bloomberg surveillance with jonathan ferro, Lisa Abramowicz, and annmarie hordern. Jonathan live from new york city, good morning, good morning. For our audience worldwide, this is bloomberg surveillance with Lisa Abramowicz and annmarie hordern, i am jonathan ferro. We got to begin with this name. Apple. The latest reporting from our colleagues at bloomberg. Apple canceling a decadelong effort to build an electric car. Lisa a decade ago it was building a car would be the next vr headset, the next artificial realitytype of experience. It turns out it is a bad business to build cars. Its a Good Business to say we have something with ai in whatever form it is and it will transform your life. That will gain more traction. Jonathan there is information what theyre moving away from, moving into, and how the market responded. The stock rallied which tells you everything you need to know. Apple imagined the car being priced around 100 k but executives were
[inaudible conversations] [inaudible conversations] i hate sitting up here. I feel so far away and i asked the step to do the chair position to the front row but theres no room for the bench. Another day and another room. The subcommittee on oversight and accountability will come to order. The purpose of this hearing to examine the state departments Climate Policy and the budget of the special president ial envoy for climate office. I now recognize myself for an Opening Statement. As we examine the state departments climate agenda and budget we are joined today by former secretary of state john kerry. Firstever special president ial envoy for climate mr. Kerry youre sitting in a newlycreated position that from the Root Research ive done in two years you have largely managed to avoid any real oversight or accountability in that position. My Community Cares about this as an issue. We sit on the port of east coast and we felt the consequences of their garments of disaster and is a member
Morning. This bloomberg surveillance. More than a decade since the last one, s p Global Rating the gene the top rating for u. S. Of america. Fitch follows up after the close yesterday with this quote, the written downgrade of u. S. Reflects the expected physical deterioration over the next three years. The erosion of governance relative to aa and aaa rated peers. Whether it is justified, and if it matters, are two different questions. Lisa i would agree as this is the second Major Company to downgrade u. S. From aaa rating. The response arbitrary and based on outdated data. That is janet yellen. Larry summers the idea that it is a decreased default risk is absurd. Here is the question, is there Something Real behind this in terms of how much Interest Rate expenses are going up and like a convention there is on capitol hill . Jonathan theres governance issues u. S. Has that is inconsistent with other aaa rated peers like germany. Lisa i would agree because we were talking about u. S. Po
Im melissa lee. Always good to have you, rebecca. And we start off with the sea of red on wall street major indices all down over a percent ahead of tomorrows fed decision investors seeing a more than 80 the central bank will raise rates another quarter percent. The big banks and regional efts hitting their lowest levels since late 2020. Pac west, western alinls, and comare ka down double digits the oih dropping 6 , lowest close since october, as crude tumbled back to the 70 mark investors blocking to the safety of gold. Both the Precious Metals and the miners offering some refuge amid the volatility the banking crisis not solved, the fed set to hike yet again, and a new xdate for the debt ceiling now just weeks away, not months so, theres a lot going on here, guy. Feels like people just want to be riskier not a trifecta you want to win. Bank of america, whisper of its 52week low. Not trading well and dan mentions it all the time the banks are so vitally important, its interesting, whe
key debates going on in pennsylvania for the senate race, in colorado for the senate race and in michigan, the battle for who will stay in power or be the next governor and in new york, a race that shouldn t even be a race in this overwhelmingly blue state where the empire state contestants right now will have their one and only debate tonight. what a night. what a day. what a next two weeks. welcome. i m neil cavuto. this is your world. a very political world where front and center is the rush to close the deal. typically this favors the party that is out of power. growing signs that it might really favor the party out of power. way too early to say. two weeks can produce a lot of difference results. let s go to harrisburg pennsylvania. bryan llenas has more from pennsylvania. bryan? neil, good afternoon. for one night only, a political debate in pennsylvania. fetterman and oz debating in person for one hour. no tv audience. it will be live no audience, live audience.