LA Clashes Escalate, US-China Trade Talks Resume, Apple's AI Focus | Bloomberg Daybreak

Escalating Protests in Los Angeles

• ⚠️ Anti-deportation protesters have clashed with law enforcement for three days in Los Angeles, with incidents including violence and cars being set on fire.
• 🚨 LA Police Chief Jim McDonald described the escalating violence as "disgusting" and "increasingly worse."
• 🏛️ President Trump deployed over 2,000 National Guard troops to LA, stating he would not wait for Governor Gavin Newsom's request.
• ⚖️ Mayor Karen Bass and Governor Newsom criticized the deployment, with Newsom planning to sue the administration over what he called an "unlawful deployment."

US-China Trade Negotiations and Market Impact

• 🤝 The US and China are set to resume trade negotiations in London, aiming to de-escalate tensions over rare-earth minerals and advanced technology.
• 📈 Recent data shows Chinese exports to the US dropped by 34% in May, the worst decline in over five years.
• 📊 Investors are awaiting key inflation reports and a bond sale, with the S&P 500 nearing its February record high.
• 📉 Strategists note that while risks remain, the market appears prepared to look past them.

Apple's Developer Conference and AI Investments

• 💻 Apple is kicking off its annual Worldwide Developers Conference, expected to feature sweeping redesigns of its software interfaces.
• 💡 There is little expectation of significant updates to Apple's AI product, "Apple Intelligence," at the conference.
• 💰 Meta Platforms is reportedly in talks to invest billions in AI startup Scale AI, valued at over $10 billion.
• 🚀 Qualcomm is acquiring semiconductor company Alpha Wave IP Group for $2.4 billion, focusing on data centers and AI applications.

Other Global and Business News

• ✈️ A new Trump administration travel ban takes effect today, affecting citizens from 12 countries.
• 🚢 Israeli forces intercepted an aid boat bound for Gaza, detaining activists including Greta Thunberg.
• 🌊 Tropical storm Barbara is moving away from Mexico's Pacific coast, with potential for flooding and rough surf.
• ⚾ In sports, the Oklahoma City Thunder beat the Pacers in Game 2 of the NBA finals, tying the series; the Red Sox won a high-scoring series against the Yankees; and Carlos Alcaraz won the French Open men's singles title.