Bloomberg News Now: U.S. Strikes Iran Targets As Markets Surge, Jobs Beat Forecasts |

0:00 News when you want it with Bloomberg News now.

0:02 I'm Amy Morris.

0:03 The U.S.

0:03 and Iran have exchanged fire at the U.S.,

0:06 carrying out airstrikes on Iranian oil tankers and Iran criticizing the U.S.

0:10 for violating the cease fire agreement and seizing a tanker in the Gulf of Oman.

0:14 Bloomberg's Tyler Kendall the U.S.

0:16 military did confirm overnight that it hit Iranian

0:19 military targets in retaliation for Iran going after U.S.

0:22 naval vessels in the Strait of Hormuz.

0:25 The threat from President Trump that the U.S.

0:28 could resume military operations if Iran does not

0:30 come to the table in a more meaningful way.

0:33 Bloomberg's Tyler Kendall, U.S.

0:35 Secretary of State Marco Rubio, says the U.S.

0:37 expects Iran to respond to President Trump's

0:40 latest proposal to end the war imminently.

0:42 We're expecting a response from them today at some point.

0:45 We have not received that yet, as you know, the last day in the last hour.

0:49 But perhaps that will come.

0:50 Iran has still given no indication whether it will accept Trump's plan,

0:54 which proposes that the Islamic Republic reopen

0:56 the Strait of Hormuz and the U.S.

0:58 and a blockade on Iranian ports over the next month.

1:01 The two sides will still need to negotiate a deal over Iran's nuclear program.

1:05 Oil market watchers are increasingly concerned that the war

1:09 in the Middle East will end up crushing demand.

1:11 Stockpiles around the world are dwindling,

1:13 which could lead to a longer period of elevated

1:16 prices and government restrictions aimed at preventing shortages.

1:19 Europe is already struggling to find supplies of jet fuel in the U.S..

1:24 Retail gasoline prices are near their highest in nearly four years,

1:27 with the nation's summer driving season set

1:29 to begin with the May 25th Memorial Day holiday.

1:33 WTI now topping 9550 a barrel and Brent crude more than $101 a barrel.

1:39 The Virginia Supreme Court has blocked state

1:41 officials from using a new congressional map.

1:43 Voters approved that map,

1:45 which was poised to help Democrats gain seats in the U.S.

1:48 House.

1:49 Bloomberg Government senior elections reporter Greg

1:51 Gerow says this all started in Texas.

1:54 The Republican government there, at the urging of President Trump,

1:57 decided to enact a new GOP favoring lines

2:00 in an effort to help defend their very shaky House majority.

2:04 Democrats counterattacked, notably in California,

2:07 but also in Virginia, where, as I noted,

2:09 the Democrats had hoped for a four seat gain

2:12 in Virginia that has now been effectively wiped out.

2:14 Bloomberg's Greg Gerow.

2:15 The state Supreme Court said the legislature's process

2:18 for pursuing the new map violated Virginia's constitution.

2:21 Democratic state officials could ask the U.S.

2:24 Supreme Court to intervene on an emergency basis.

2:27 Hackers briefly took down an online portal

2:30 used by thousands of colleges around the world,

2:32 disrupting services at institutions from Harvard to Princeton.

2:36 And structure, which runs canvas,

2:38 says it was forced to suspend the portal after a May 1st infiltration

2:41 by a criminal threat actor that exploited

2:43 a vulnerability in a specific account for teachers.

2:46 The company has restored much of the service now.

2:49 It has suspended the teacher accounts for now.

2:52 America's employers delivered a surprising 115,000 new jobs last month,

2:56 despite an economic shock from the Iran war.

2:59 Hiring was better than the 65,000 forecasters had expected.

3:03 It did decelerate from the 185,000 jobs created in March.

3:07 Signs of labor market strength drove stocks higher,

3:10 bolstering speculation that the U.S.

3:13 economy is resilient in the face of the energy shock triggered by the Iran war.

3:17 We check those markets for you all day long here at Bloomberg.

3:20 The S&P 500 are up 8/10 of a percent.

3:23 Nasdaq up 1.4% and the Dow up a 10th of a percent.

3:26 The ten year Treasury yield at 4.36% and the two year yield at 3.89%.

3:32 A Federal Trade court declared President Trump's 10% global tariffs unlawful,

3:36 granting a request by small businesses in mostly

3:40 Democratic led states to invalidate the tariffs.

3:42 National Economic Council Director Kevin Hassett says

3:45 the Trump administration is now studying all options.

3:47 But we have a backup plan that is going to make sure

3:51 that the president's trade policy is made a reality very, very shortly.

3:55 National Economic Council Director Kevin

3:58 Hassett on Bloomberg Radio and television.

4:00 Consumer sentiment fell to a fresh record low over concerns

4:03 about the impact of inflation on personal finances and buying conditions.

4:08 The latest University of Michigan Sentiment Index decreased to 48.2.

4:12 That's down from 49.8 last month.

4:15 Survey director Joanne Shu tells Bloomberg a third

4:18 of consumers surveyed mentioned high gas prices.

4:21 Consumers are very loud and clear that the top factor that's been on their minds

4:24 for several years has been the cost of living and the burden of high prices.

4:28 And with the surge in gas prices in just in the last couple of weeks,

4:33 uh, consumers continue to be very, very frustrated.

4:36 Consumers perceptions of their current financial situation

4:39 slid to the lowest level since 2009,

4:42 and buying conditions dropped to a five month low.

4:45 The Pentagon has begun releasing new files on UFOs,

4:47 saying members of the public can draw

4:50 their own conclusions on unidentified anomalous phenomena.

4:52 Besides the Pentagon, the effort is being led by the white House,

4:57 the director of National Intelligence, the Energy Department, NASA and the FBI.

5:01 The Pentagon says additional documents will be released on a rolling basis.

5:04 That's news when you want it with Bloomberg News now.

5:07 I'm Amy Morris and this is Bloomberg.