Deadly NYC Office Shooting; US and China Talks Optimism

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1:10At that level, managing risk becomes an ongoing discipline. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. And when losses do happen, that work is paired with insurance coverage shaped by years of underwriting, risk engineering, and claims experience. Learn more at thehartford.com slash risk mitigation. Policies provided by Hartford Fire Insurance Company and its property and casualty affiliates, Hartford, Connecticut. Bloomberg Audio Studios. Podcasts. Radio. News. Good morning. I'm Nathan Hager. And I'm Karen Moscow. Here are the stories we're following today.

1:53Karen, we'll have more on the markets in a minute, but we begin with the latest on the deadly shooting spree in New York City. A gunman shot and killed four people before turning the gun on himself at the epicenter of American finance in a building that houses the offices of the National Football League. Bloomberg's John Tucker joins us from Manhattan with the very latest. John. Nathan's security camera footage at 345 Park Avenue shows the shooter double park his black BMW, enter the lobby of the 44-story dark glass tower with an assault rifle. He turns right and immediately opens fire on an NYPD officer.

2:31He then shoots a woman who took cover behind a pillar and proceeds through the lobby spraying it with gunfire. He makes his way to the elevator bank where he shoots a security guard who is taking cover behind a desk. NYPD Commissioner Jessica Tisch. He goes up to the 33rd floor, which is Rudin Management, and begins to walk the floor, firing rounds as he traveled. Mayor Eric Adams identifies the murdered police officer who was in uniform working security as 36-year-old Deer Adel Islam, married with two young boys and a pregnant wife. He's an immigrant from Bangladesh, and he loved this city, and everyone we spoke with stated he was a person of faith.

3:14Jessica Chen was attending a presentation on the second floor with over 100 colleagues. When they heard the commotion, her first instinct was to text her loved ones. Texted my parents that I love them. I texted people good in my life that I love them. We were honestly really, really scared. 345 Park is home to Rudin Management, the investment company Blackstone, KPMG, and the National Football League. A Blackstone employee was among those killed. And ESPN reports one NFL employee was seriously injured. And now law enforcement officials are telling Bloomberg the gunman was targeting the NFL, but ended up on a Rudin Management floor by mistake.

3:56The shooters identified as Las Vegas resident Shane Devon-Tamara. He was found dead from what's believed to be a self-inflicted gunshot wound, and his social media feed showed he had a football career that ended after a head injury, and he wrote that the NFL didn't do enough. He has a documented history of mental health problems. He previously worked as a security guard at a Las Vegas casino and did hold a concealed carry permit for Nevada. In New York, I'm John Tucker, Bloomberg Radio. Nathan, we want to turn now to the trade talks. and Commerce Secretary Howard Lutnick is sounding optimistic that the U.S.

4:31and China will be able to extend their trade truce another 90 days. They're talking right now, but the decision maker, of course, is President Trump. I'm sure the people who are speaking with China are going to go discuss with President Trump how he wants to play it. He's got an excellent relationship with President Xi, and I think we'll leave that to Donald Trump to decide how he wants to do it. Is that a likely outcome? Sure, it seems that way, but let's leave it to President Trump to decide. Commerce Secretary Howard Lutnick spoke on Fox News. Treasury Secretary Scott Besson is leading a delegation in a third round of talks with Chinese officials.

5:06That's set to wrap up today in Sweden. Meantime, the president of Taiwan appears to have canceled an overseas trip next week after the Trump administration failed to approve his stopover in the U.S. Sources say there is growing concern that Li Qingda's visit could derail the China talks in a possible summit between President Trump and Xi Jinping. On Truth Social, President Trump denied he's seeking a meeting with Xi, though he said he could go to China if the president invites him. Well, meanwhile, Karen, the trade agreement that the European Union just reached with the U.S. is facing mounting criticism.

5:38The deal would slap 15 percent tariffs on most EU exports, while the average duty on U.S. goods should drop below 1 percent once the agreement goes into effect. We get more from Bloomberg News executive editor Paul Dobson. It does seem like as people considered this deal, they detected that there were some weaknesses within what the European Union had conceded in order to get it done. So, yes, having some sort of a deal removes that risk of escalation, but it also sort of takes away the bargaining chips that the authorities had to try to drive better deal in some parts of the business world. Bloomberg's Paul Dobson reports the U.S.

6:14and EU are working on a non-legally binding joint statement by this Friday, and then we'll start work on a legally binding text. An EU official says that could take time. These kinds of trade accords usually take years of negotiations. Nathan, there may be a mega rail deal in the works. Bloomberg News has learned Union Pacific is near an agreement for a stock in cash deal to buy Norfolk Southern that would value the smaller rival at about$320 a share. That price would represent a roughly 23 % premium to Norfolk Southern stock price before the first reports of a potential deal this month. If completed, this would be the rail industry's biggest ever tie-up.

6:53Let's turn to the equity markets now, Karen. Futures are pointed higher as we enter the Tuesday session. The S &P 500 eked out a gain yesterday to notch its sixth consecutive record close. Cameron Dawson is chief investment officer at New Edge Wealth. We've been thinking that the one risk to the upside in the U.S. is that we were calling it the prince market, where we could sing, let's go crazy and party like it's 1999. And there are certainly aspects of this market that are starting to look very frothy. We're starting to see huge rallies in the most speculative portions of the market. You see a lot of options activity that is only betting on the upside.

7:30All this speculative fervor shows that there are investors that are absolutely clamoring for risk and have zero caution for any potential downside. New Edge Wealth's Cameron Dawson thinks earnings will be the key driver for markets going forward. Well, speaking of earnings, Nathan, it'll be another busy day with nearly three dozen companies in the S &P 500 reporting, and they include Boeing. We get a preview with Bloomberg's Tom Busby. Boeing is back. Look for strong improvement in Boeing's cash burn and its operations after it delivered a healthy 150 jets in the second quarter. More than expected and 63 % more than the same period one year ago.

8:09A potential strike by machinists at its defense unit, the maker of the F-15 and F-18 fighter jets, could weigh on its outlook, though. Bloomberg consensus calls for total revenue of$21.68 billion on a core loss per share of$1.40 on a negative cash flow of$1.79 billion. Tom Busby, Bloomberg Radio. All right, Tom, thanks. It's also a busy day for earnings in Europe. Let's go to London, check in with Bloomberg's Ewan Potts for the very latest. Good morning, Ewan. Nathan and Karen, traders at British Bank Barclays have turned in their best second quarter performance in three years. The 26 % gain recorded in the fixed income business driven by tariff induced volatility in markets.

8:49Tariffs also in focus for carmaker Stellantis. The Italian company behind Chrysler and Jeep says it expects to take a 1.2 billion euro hit in the second half following the EU's trade deal with the United States. And we also had earnings from the most valuable listed company in London, drugmaker AstraZeneca, reporting better than expected sales and rising profit for the second quarter, spurred by its stable of cancer medicines and growth in the United States. In London, I'm Ewan Potts, Bloomberg Radio. All right, Ewan, thank you. Another major bank wants its employees back in the office. HSBC is asking all managing directors to return to their desks at least four days a week, starting in October.

9:28Five years after the global pandemic fueled an unprecedented boom in remote work, bank executives have become more vocal in insisting that workers return to the office. Back in January, JPMorgan Chase told its employees to come back five days a week. And Karen, the gold bull rush may not be over. Fidelity says the commodity could hit$4 ,000 an ounce by the end of next year. The firm cites the Federal Reserve likely to cut rates to cushion the economy, the falling dollar, and central banks adding to their holdings. Checking gold prices right now, COMEX Gold's up three-tenths of one percent, trading at$3 ,377.50 per ounce.

10:08Time now for a look at some of the other stories making news in New York and around the world. And for that, we're joined by Bloomberg's Michael Barr. Michael, good morning. Good morning, Karen. This week, 200 million Americans are under heat alerts from South Dakota to the Northeast. In New York City, temperatures could reach as high as 100 degrees today. In Boston, the high is forecast to hit 97. The temperature will be in the mid-90s in the nation's capital. President Trump is putting pressure on Russia to make a peace deal with Ukraine. The president had given Vladimir Putin 50 days until early September to make a peace deal with Ukraine.

10:44Speaking in Scotland, the president now says he's moving up that deadline. I'm going to make a new deadline of about 10 or 12 days from today. There's no reason they're waiting. The president has threatened to hit Russia with, quote, very severe tariffs. Former Russian President Dmitry Medvedev warned that President Trump's ultimatum is, quote, a step towards war between Russia and the U.S. Israeli Prime Minister Benjamin Netanyahu says no one in Gaza is starving. President Trump disagrees and notes the images emerging of emaciated people. The World Health Organization says 63 of the 74 malnutrition-related deaths in Gaza this year have occurred this month.

11:31Those included 24 children under the age of five. UNICEF spokesman Ricardo Paris is in Gaza. More corridors need to be open, more humanitarian aid needs to flow. is through the sky, it's again very welcome, but it cannot replace the efficiency of trucks that actually go to communities and do not put them at risk. Israel has agreed to a temporary halt in the fighting in Gaza while airdrops of food and medical supplies are being sent in. President Trump asked a judge to order Rupert Murdoch to set for a deposition within 15 days in Mr. Trump's $10 billion libel lawsuit against the Wall Street Journal over a story about Jeffrey Epstein.

12:15The president argued an expedited schedule is justified due to the executive's advanced age. Meanwhile, Epstein's accomplice, Ghislaine Maxwell, asked the Supreme Court to consider an appeal to overturn her sex trafficking conviction. Global News 24 hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr and this is Bloomberg. Karen. All right, Michael Barr, thank you.

13:09In the first half of 2026, over$28.1 billion U.S. traded on Moon ATS. Learn more about Moon ATS. Visit otcmarkets.com slash moon. Moon ATS is operated by OTC Link LLC, a FINRA-registered broker-dealer. The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business.

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14:56time now for the bloomberg sports update brought to you by flushing bank and here's john stash our john good morning morning care the mets took their seven game winning streak to san diego got a mark vientos grand slam in the fifth inning only to have the padres come right back with five runs in the bottom of the fifth the mets trailed six to five in the top of the ninth and he hits one in the air to deep right center. Back goes Tatis, takes a look, and this game is tied! Ronnie Mauricio for the second straight night! A tying home run in the top of the ninth, and the Mets have gotten back even 6-6.

15:34S-N-Y, Mauricio had that four-hit, nine-total base game in Sunday's win in San Francisco. The Padres, however, scored bottom of the ninth off new Met reliever Gregory Soto, who hurt himself with an error. Padres won 7-6. Mets stay game and a half ahead of the Phillies, who lost to the White Sox at the stadium. The Yankees had three hits in the first inning, scored twice, and then did nothing the rest of the game. Lost to Tampa Bay 4-2, lost a chance to gain ground on Toronto, who lost in Baltimore. The Jays stay 5-1 ahead. Red Sox lost in Minnesota 5-4. Nationals 1-2-1 in Houston. The day after the inductions in Cooperstown, a Hall of Famer has passed away.

16:10Ryan Sandberg was 65, had battled cancer the past year and a half, He played 15 years for the Cubs, a 10-time All-Star, nine gold gloves, the NL MVP in 1984. There's a statue of Sandberg outside Wrigley Field. Deion Sanders revealed that he's been battling bladder cancer. The NFL Hall of Famer, current Colorado coach, made his first comments. Without wonderful people like this, I probably wouldn't be sitting here today because it grew so expeditiously, I could say. And then everybody get checked out. Because if it wasn't for me getting tested for something else, they wouldn't have stumbled up on this.

16:51And make sure you go to the get the right care. Dion had successful surgeries. Doctors said Sanders is healing. John Stach, Bloomberg Sports, Karen and Nathan. All right, John, thank you. And Bloomberg Daybreak is brought to you by Flushing Bank. Life's more rewarding with Flushing Bank's complete cash rewards program for personal and business accounts. With 29 New York metro locations, there's nothing more rewarding. Visit FlushingBank.com, member FDIC. 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.

17:28Good morning, I'm Nathan Hager. The heart of New York City's financial district is reeling this morning after a deadly mass shooting inside the building that houses Blackstone, the NFL, and many other businesses. New York City Mayor Eric Adams. Our hearts are heavy. Five innocent people shot tonight. We lost four souls to another senseless act of gun violence. Mayor Adams spoke last night after the gunfire inside 345 Park Avenue. Joining us this morning, Bloomberg's Miles Miller, who's covered New York City for decades. Miles, good morning. What's the latest that we know about this shooting? Good morning.

18:04What we know now is that the suspect in this incident happened to have been targeting the National Football League in this building that houses not only the National Football League, but also Blackstone and KPMG. The National Football League occupies the fifth floor. We're told that the suspect in his back pocket had a note that made reference to a chronic condition that a lot of football players have known as CTE. It's a condition that only is really studied after a person who has it dies and they study their brain. And it appears as though he was a football player from Nevada, had played in high school.

18:51And based off of those hits, he believes he had that condition. And so that's why police believe he took this cross-country trip from Nevada, making stops in Colorado, and then most recently New Jersey before carrying that M4 rifle into that building on Park Avenue and opening fire, killing scores of people. You said that the NFL headquarters is on the fifth floor, but from what we understand, the gunman in this case wound up on the 33rd floor. How did that happen? Yeah, the suspect in this incident walks into the building, and the first person he encounters is a police officer in uniform who's doing what's called a paid detail, meaning it's his day off, but he's in uniform working private security for an approved company.

19:46He shoots that police officer in the back and then continues firing in that lobby and gets into the first elevator bank he sees. When he gets in that elevator bank, there's a woman already inside. She runs out. He doesn't shoot her. But it's the elevator banks that are in most corporate buildings now here in New York where the floor is picked outside. So he didn't pick the floor. He got in. He got out. And when he reached that floor, he wound up on the floor that is occupied by Rudin, a big property management company here in New York. And it's there where he is walking down the hallway, firing left and right, strikes a woman who works for that firm, and then ultimately turns the gun on himself.

20:34Now, obviously, Miles, this is raising a lot of memories just a few months ago of what happened outside the meeting where the UnitedHealth CEO was killed. This has got to raise questions about security inside buildings in Midtown. What's being done about that? Right. If you know anything about Rudin, the one thing that Rudin spends a lot of money on is the security of their buildings. They are one of the largest contributors to the police foundation here in New York. In fact, I was at their gala a few months ago, and Rudin was honored because of their work with this paid detail unit. It has a lot of folks who are both in property management, but also just generally in the corporate world, frightened because this appears to be another targeting of an organization and potentially its executives as it relates to a specific cause.

21:32and you know that was the same thing that happened with Luigi Mangione a guy who had issues with UnitedHealthcare who had back pain, who had that debilitating surgery and was having issues with UnitedHealthcare we're seeing the same thing happening here with Shane Tamora 27 year old, who in his note that he left in his pocket said he experienced significant pain from his football career and he felt the NFL wasn't doing anything about it. This is something that has been on the minds of corporate America for the last couple of months, and here it is rearing its ugly head yet again. Has there been any reaction, as far as we know, from the NFL, not just in regards to what this gunman had to say in this apparent manifesto, but about what they're going to do in terms of ramping up their own security?

22:24Yeah, so this came out overnight, but, you know, worth mentioning that the NFL's head of security is the former head of D.C.'s Metropolitan Police Department. And so they will definitely be taking a look at what they can do in terms of security of their facilities and also security of the clubs around the country. This is not just narrowly focused on New York. It's going to be something they look at around the country. And, Miles, what do we know at this point about the victims? Of course, there's been a lot of attention, at least at the outset, on this officer who put himself in harm's way last night.

23:02Right. We know that at least one of the victims was an employee at Rudin. We know that a Blackstone employee was among one of those killed. And then we also know that this police officer, who was the first person shot, was expecting a baby in just about two months or about a month and a half. His wife is currently pregnant. You know, he had, you know, worked towards the American dream, had worked as a traffic agent before he joined the NYPD, worked his way up to being a cop. He's a cop. He was a cop in the Bronx and was working to make ends meet. Now, you know, their lives shattered, the family's lives shattered forever by what was truly a senseless shooting and an alarming shooting in the middle of Midtown Manhattan.

23:47And given that alarm, Miles, you have to wonder whether these businesses, so many businesses housed at 345 Park are going to be able to even operate today. What have we heard about that? Right. A number of the companies that are based there have told their employees that they're able to be working from home. You know, it's worth noting that this is an area that is filled with finance firms, right? We're talking about Citadel in the neighborhood. Obviously, we know J.P. Morgan has a huge building that they're building there, but also it's a major campus for them. It's their headquarters out of there.

24:22We know that they're going to be stepping up their security, right? Jeffries is based in a neighborhood as well. My friend just took a job chief of security at BNY, formerly BNY Mellon. And, you know, second day on the job, he's going to have to be meeting with folks to figure out how they're going to keep their employees safe. You know, it's going to be a look at, OK, if we have police on the perimeter, you know, is that enough to stop a threat? I mean, this guy walked into this building toting an M4 in the middle of Manhattan, double parked his car. Will the NYPD supplement their units and bring back their counterterrorism and strategic response group so that they can quickly mobilize to things like this happening?

25:03And you saw yesterday the mobilization from the NYPD was immediate and really trying to sweep that building to make sure that everybody was OK once the threat was neutralized. All right, Miles, thank you for this. That's veteran Bloomberg New York City reporter Miles Miller with us this morning. We're going to be checking back with Miles for updates throughout the morning. It's just about 524 on Wall Street. Let's get to the latest now on some of those trade discussions. A second day of talks between Treasury Secretary Scott Besant and his Chinese counterparts is underway in Stockholm, Sweden, where we find Bloomberg's Oliver Crook this morning.

25:35Oliver, great to have you with us. Walk us through what we know so far. It sounded like everybody was kind of mum coming out of talks on day one yesterday. Good morning. Yeah, that's right. Good morning. They spent about five hours speaking yesterday here in Sweden. They've been inhabiting the prime minister of Sweden's offices, which he very kindly lent out for these trade negotiations between the Chinese vice premier and Scott Besant. and Jameson Greer, five hours of discussions yesterday. We've just watched them walk in about 30 or 45 minutes ago. So we have to imagine that the meeting is now underway.

26:04And we'd hope to hear from them at some point later in the afternoon. The real deliverable here, what we're expecting to get and hoping to get from the Chinese and the United States is another extension to that truce that was struck after that trade war escalated between China and the United States. You'll recall that tariff rates reached 125 % at one point, basically precluding any trade between the two largest economies in the world. That has now come down. But that trade truce is set to expire on August the 12th. So the ambition here is trying to make some forward progress on, A, getting that truce forward, but then also laying the groundwork for potentially a longer-term trade deal with China.