Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.

A rally in several big techs fueled gains in stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. The dollar was steady.

Following earlier losses driven by weak jobs data, the S&P 500 rose to fresh all-time highs. Nike Inc. climbed alongside other apparel and footwear companies amid hopes the latest US trade deal will avert a potential supply-chain catastrophe. Tech megacaps led gains, with Tesla Inc. jumping 5% as a drop in sales was seen as better than feared. Marvell Technology Inc. slid about 2.5% on a report that Microsoft Corp. is scaling back its ambitions for AI chips to overcome delays.

Longer-dated Treasuries underperformed, following moves in the UK, where concerns about Chancellor of the Exchequer Rachel Reeves’ future reignited questions over the nation’s fiscal position. Investors have raised similar concerns in the US, where the Senate passed Trump’s sweeping tax and spending bill.In the run-up to the jobs report, economists forecast employers added 110,000 jobs in June — the fewest in four months — amid a slight rise in the unemployment rate to 4.3%. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday.

Data Wednesday showed employment at US companies fell for the first time in over two years. Despite signs of a downshift, Federal Reserve Chair Jerome Powell has repeated the labor market remains solid. Policymakers have refrained from lowering interest rates this year as they wait to see the impact of tariffs on inflation.

Today's show features:

• Brent Meyer, Assistant Vice President and Economist in the Economic Survey Research Center at the Federal Reserve Bank of Atlanta and Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on a new report from the Atlanta Fed: “The Evolving Impact of Tariffs on CFOs' Outlook”
• Bloomberg Businessweek writer Deena Shanker on her story about SNAP cuts in the Federal tax and spending bill potentially hurting people in red and blue states alike
• Bloomberg Businessweek Editor and Writer Laura Bliss on her Bloomberg Big Take about landfills around the US reaching scorching temperatures and getting nearby residents sick
• Fred Thiel, Chairman and CEO of MARA on the regulatory outlook for Bitcoin and the company’s energy consumption and deployment strategy in terms of Bitcoin mining

See omnystudio.com/listener for privacy information.

Amazon's robotics unit has just deployed its one millionth robot, building on its position as the world's largest manufacturer and operator of mobile robotics. This milestone robot was recently delivered to a fulfillment center in Japan, joining a global network that now spans more than 300 facilities worldwide.

Tye Brady, Chief Technologist for Amazon's expansive robotics unit, explains how new AI technology will make the world's largest fleet of industrial mobile robots smarter and more efficient.

See omnystudio.com/listener for privacy information.

Watch Bloombreg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.
Donald Trump’s $3.3 trillion tax and spending cut bill passed the Senate Tuesday after a furious push by Republican leaders to persuade holdouts to back the legislation and hand the president a political win.
Senators voted 51-50 to pass the bill, with three Republicans — Susan Collins of Maine, Thom Tillis of North Carolina and Rand Paul of Kentucky, defying Trump to oppose the legislation. Vice President JD Vance cast the tie-breaking vote. The package, which now goes to the House, combines $4.5 trillion in tax cuts with $1.2 trillion in spending cuts. 
“This was a team effort,” Senate Majority Leader John Thune told reporters immediately following the vote on Tuesday. “In the end, we got the job done.”
The Bloomberg Dollar Spot Index climbed to a session high after the bill passed the Senate. It was falling for six months through the end of June.
The package — informally known as the “One Big Beautiful Bill” — includes the entirety of the president’s legislative agenda in a single package. Trump personally lobbied lawmakers to quickly move the legislation through Congress.
“It’s a great bill. There is something for everyone,” Trump told reporters on Tuesday. “And I think it’s going to go very nicely in the House. Actually, I think it will be easier in the House than it was in the Senate.”
Republicans say passing the bill will help them maintain their congressional majorities in the midterms. But polling suggests the bill is not particularly popular. A recent Pew Research survey found that 49% of Americans oppose the bill, while 29% supported it. Some 21% weren’t sure what to think.
The House is expected to vote on the bill this week, but success is not guaranteed. Only a few Republicans can vote “no” in the House for the bill to pass in the face of united Democratic opposition. Speaker Mike Johnson said the House “will work quickly” to pass the bill by July 4.

Today's show features:

• Terry Haines, Founder of Pangea Policy on the Senate passing a $3.3 trillion tax and spending cut bill
• Bloomberg Technology Co-Host Ed Ludlow and Bloomberg News Team Leader for the Capitol Influence Team Mike Dorning on Elon Musk’s renewed tensions with President Donald Trump, whether Musk still holds sway in Washington and what it means for Tesla
• Olaolu Aganga, US Chief Investment Officer for Mercer on businesses adjusting to pending legislation and the economic outlook
• Paisley Nardini, Managing Director and Head of Multi-Asset Solutions at Simplify Asset Management on diversified return streams for investor

See omnystudio.com/listener for privacy information.

Stephen J. Cloobeck, a self-proclaimed “fiscally conservative and socially responsible Democrat,” is running as a Democratic candidate for Governor of California in 2026. Touted by the likes of former President Bill Clinton, Robert Shapiro and Senator Cory Booker, Cloobeck says he is eager to be the navigator of change for what he refers to as the “broken” state.

Cloobeck is also the founder and former CEO of Diamond Resorts International, and believes his significant business experience well help him guide California's economy, which on its own would stand as the fifth largest in the world.

See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily every day on YouTube: http://bit.ly/3vTiACF.

Apple Inc. is considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort.

The iPhone maker has talked with both companies about using their large language models for Siri, according to people familiar with the discussions. It has asked them to train versions of their models that could run on Apple’s cloud infrastructure for testing, said the people, who asked not to be identified discussing private deliberations.

If Apple ultimately moves forward, it would represent a monumental reversal. The company currently powers most of its AI features with homegrown technology that it calls Apple Foundation Models and had been planning a new version of its voice assistant that runs on that technology for 2026. 

A switch to Anthropic’s Claude or OpenAI’s ChatGPT models for Siri would be an acknowledgment that the company is struggling to compete in generative AI — the most important new technology in decades. Apple already allows ChatGPT to answer web-based search queries in Siri, but the assistant itself is powered by Apple.

Today's show features:

• Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri
• Ed Price, Senior Non-Resident Fellow at New York University and former British trade official on the latest from Ukraine and expectations for ongoing US trade negotiations
• Trish Damkroger, Chief Product Officer, SVP & General Manger of High Performance Computing and AI of HPE
• Bloomberg News Congressional Reporter Erik Wasson on the latest tax bill negotiations within the US Senate

See omnystudio.com/listener for privacy information.

Roaring returns for US IPOs are driving fresh optimism that activity will pick up steam later this year and into 2026, even as worries over geopolitics and President Donald Trump’s tariffs hang over the market.

Led by triple-digit-percent increases for Circle Internet Group Inc. and CoreWeave Inc. — two of the year’s five largest initial public offerings on US exchanges — this year’s class of debutantes are trading up by a weighted average of about 53%, data compiled by Bloomberg show. That’s left investors hungry for more, particularly in a year where the S&P 500 Index has struggled to remain in the black.

Michael Harris, vice chairman and global head of markets at NYSE examines the health of the IPO market as well as his company's position of strength within the hierarchy of global trading platforms.

See omnystudio.com/listener for privacy information.

Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec

Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.

You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.
Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump said he was ending all trade discussions with Canada after claiming the country moved to implement a digital services tax, and threatened to impose a fresh tariff rate within the next week.

“Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period,” Trump posted Friday on social media.

The Canadian dollar dropped more than 0.5% almost immediately. Canada’s benchmark equity index fell, and the shares of companies that rely on trade across the border, including General Motors Co. and apparel maker Canada Goose Holdings Inc., also took a hit. 

Canadian Prime Minister Mark Carney’s office and the country’s finance ministry did not immediately respond to requests for comment. 

Dozens of countries face a July 9 deadline for Trump’s higher tariffs to kick back into place, and have been engaged in negotiations with the US. That group does not include Canada and Mexico. The president imposed tariffs the US’s North American neighbors earlier this year over fentanyl trafficking and migration concerns and talks with them are being handled on a separate track.

Today's show features:
- Bloomberg New Senior White House Correspondent Josh Wingrove on the latest US trade deal negotiations
- Harold J. Krent, Professor of Law at the Chicago-Kent College of Law on Friday’s Supreme Court decisions
- Alli McCartney, managing director of Wealth Management at UBS on the investing outlook for the second half of 2025 amid geopolitical uncertainty
- Michael Loeb, founder & CEO of Loeb.nyc on the venture capital landscape and the value of the Uncharted Summit

See omnystudio.com/listener for privacy information.

The overhauled US panel reviewing vaccine data backed the use of only thimerosal-free flu shots for Americans, taking aim at a little-used ingredient that has been falsely linked with autism despite decades of evidence showing it to be safe.
The Advisory Committee on Immunization Practices, or ACIP, voted five to one Thursday with one abstention in a move that would curtail use of larger vaccine vials that use the preservative.

Bloomberg News health reporter Damian Garde joins to discuss this and what else RFK Jr. is doing to reshape vaccine regulations in the US. 

See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Andrew Cuomo’s loss is Eric Adams’ gain.

Just days ago, the New York City mayor faced steep reelection odds. His job-approval ratings had plunged to record lows after a federal corruption indictment. Support among Democrats fell even further when the Trump administration dropped the charges, raising questions about Adams’ indebtedness to the White House.But Adams, who dropped out of the campaign as a Democrat to run as an independent, is suddenly looking less toxic to a class of moderate voters.

The reason: The surprise ascendancy of democratic socialist Zohran Mamdani, a 33-year-old state assemblyman who crushed Cuomo in Tuesday’s primary election to become the all-but-certain Democratic nominee.

Now Cuomo’s backers — many of them opposed to Mamdani’s populist platform of taxing the wealthy and raising corporate levies — are discussing whether to pivot their support to Adams, according to people familiar with the matter. Those same donors are encouraging the former governor, who considered a run as an independent, to drop out of the race entirely to avoid being a spoiler, said the people, who asked not to be named discussing private conversations.

Today's show features:

• Bloomberg News New York politics reporter Laura Nahmias on Mayor Eric Adams relaunching his campaign following Zohran Mamdani's stunning primary performance
• Marc Morial, president and CEO at The National Urban League on Trump's tax bill and latest in Democratic politics
• Bloomberg Intelligence senior defense analyst Wayne Sanders on the latest intel on Iran, difficulty of a damage assessment
• Bloomberg Intelligence senior analyst for e-commerce, athleisure, off-price retail Poonam Gooyal on Nike earnings

See omnystudio.com/listener for privacy information.