Bloomberg Podcasts · Bloomberg News Now: Supreme Court Blocks Trump Citizenship Order; Chip Stocks : Nike Earnings

1. 1. The US Supreme Court blocked President Trump's executive order restricting birthright citizenship, ruling it unconstitutional under the 14th Amendment.
2. 2. The Supreme Court struck down long-standing federal limits on coordinated spending by political parties with candidates, a 6-3 decision likely to help Republicans in the midterms.
3. 3. The Supreme Court upheld state laws banning transgender girls and women from competing on women's athletic teams, rejecting constitutional challenges.
4. 4. US envoys Steve Witkoff and Jared Kushner arrived in Qatar for indirect talks with Iran via mediators to implement an initial deal to end the war.
5. 5. Treasury Secretary Scott Bessent said most nations are hesitant to buy Iranian oil due to potential US reimposition of sanctions, pressuring Tehran to negotiate.
6. 6. Chip stocks are heading for their best quarter ever, driven by insatiable demand for AI equipment and a combined $2 trillion backlog for hyperscalers.
7. 7. Consumer confidence edged up in June to 91.2, below the 94.4 forecast, as falling gas prices helped but labor market worries persisted.
8. 8. Nike's earnings are expected to show a low single-digit sales increase in North America but a high-teens decline in China, with focus on CEO Elliott Hill's turnaround plan.
9. 9. Representative Tom Kean Jr. returned to the House after nearly four months, revealing he was diagnosed with depression after entering the hospital for testing.