Bloomberg Daybreak: US Edition

Daybreak Weekend: US CPI, Europe Energy, RBA Decision

Fri, 07 Aug 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI and PPI data, along with a focus on 3 stocks for the week ahead.
In the UK – a look at some of Europe's biggest energy companies on their recent performance.
In Asia – a look ahead to a monetary policy decision from the Reserve Bank of Australia.

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Iran Seeks to Bar US Ships From Hormuz; Trump Considers Order on Autism

Fri, 07 Aug 2026 09:39:03 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran will seek to bar US and Israeli ships from the Strait of Hormuz and require compensation from hostile countries before they’re allowed to sail through it, according to local media reports on a proposed Iran-Oman deal to manage the crucial waterway. The agreement has become key to expectations for a reopening of Hormuz and a resumption of energy flows that have been throttled since the US and Israel attacked Iran in February.
2) The Trump administration is actively considering issuing an executive order on vaccines and autism as soon as next week, according to people familiar with the matter. The effort is prompted by President Donald Trump’s interest in seeing additional action, according to the people, who asked not to be named to discuss internal deliberations. Options officials are discussing include research initiatives, encompassing both forward-looking studies and backward-looking analyses, the people said.
3) The yen is heading into the end of the week having surrendered nearly half of its intervention-driven gains, fueling speculation among traders that authorities may step into the market again. The currency traded around 158.40 versus the dollar on Friday afternoon, well off the strong point of 155.23 reached on Monday. It had been near a four-decade nadir around 164 per dollar last week before the first joint yen-buying operation from Japan and the US since 1998.

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Iran-Oman Hormuz Agreement; Trump Threatens Munitions Leakers

Thu, 06 Aug 2026 09:40:43 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran said it had reached an agreement with Oman on a proposed route for shipping through the Strait of Hormuz, a potential step toward a reopening of the critical waterway for energy supplies. A joint statement from Tehran and Muscat is under review and in the final drafting stage, with Iranian Foreign Ministry spokesman Esmail Baghaei saying negotiations between the two countries are “forward-moving” and a deal would be struck “if certain third parties do not obstruct this process." Iranian Deputy Foreign Minister Kazem Gharibabadi said Iran and Oman are negotiating a “temporary route” that would remain active for two to four months, with a significant portion of traffic passing through the Islamic Republic’s territorial waters.
2) President Trump denied the US was running low on munitions, saying the country has “massive amounts” of them. Trump warned of punishment for those who say there’s a shortage, saying “leakers” of supposed “treasonous statements” are being pursued. The Pentagon’s request for emergency funding includes money to replace the US’s most advanced Patriot interceptors and other systems, amid concerns about weapons stockpiles.
3) President accused Michigan Democrat Abdul El-Sayed of being a “communist” who “hates” Jews and Israel. El-Sayed has accused the Israeli government of carrying out a “genocide” during its war in Gaza, supports cutting off aid to Israel and has questioned its right to exist as a Jewish state. Trump said El-Sayed’s brand of politics would bring “filth, crime, death, destruction, embarrassment” and that El-Sayed is a “man of hate."

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Progressive El-Sayed Projected to Win Primary; Houthi Threat amid Hormuz Talks

Wed, 05 Aug 2026 09:53:46 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Abdul El-Sayed is projected to win the Democratic US Senate primary in Michigan, according to NBC, defeating Representative Haley Stevens. El-Sayed will face off against Republican Mike Rogers in the general election. Polls had forecast El-Sayed with as much as a double-digit lead over Stevens. Even with the narrower-than-projected result, El-Sayed’s win portends both a reckoning within the Democratic Party as well as smouldering ideological fissures with the Nov. 3 election looming. The 2026 Democratic primary season has been marked by the intra-party squabble between centrists and progressives over the party’s direction.

2) Oil erased a decline as Yemen's Houthi militant group issued a fresh threat against Middle East shipping, tempering optimism over US-Iran talks. Houthi spokesperson Yahya Saree said the group would escalate attacks on Saudi vessels in the northern Red Sea — a key workaround route during disruption in the Strait of Hormuz. It comes as the prospect of an interim deal focused on the Strait of Hormuz gained traction after Qatar said a proposal had been drafted and both American and Iranian officials sounded hopeful about reopening the crucial waterway.

3) SpaceX stock fell after it disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts. SpaceX reported revenue of $7.8 billion, greater than the $6.81 billion analysts estimated on average, and said it lost 9 cents a share for the quarter, less than the 24-cent loss analysts forecast. Musk told analysts that he expects the cadence of AI development to improve dramatically and that SpaceX would reach a $100 billion annual run-rate revenue by year’s end, which is higher than the $38.6 billion forecast by analysts.

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Trump Promises "Last Chance" for Iran; Michigan's Primary Progressive Test

Tue, 04 Aug 2026 09:40:11 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Oil rose after its biggest drop in a week, as President Trump said his latest offer of talks is Tehran’s “last chance” and that he expects a full reopening of the Strait of Hormuz. Tehran denied it was talking with the US, but said discussions with Oman to get more ships moving through Hormuz are making progress, with an adviser to Iran’s Supreme Leader saying Washington must “take the first step and change its behavior." Commodity flows through the Strait of Hormuz have slowed to a trickle, with a cargo vessel northeast of Al Khasab, Oman, broadcasting that it had been hit by an unknown projectile on Monday.
2) Acting Attorney General Todd Blanche shared documents on social media that seemed to clear a major hurdle to the top job, but drew skeptical reactions from former Justice Department officials and administration critics. The documents addressed concerns about a $1.8 billion fund for alleged victims of government “weaponization” and immunity for President Trump, his family members and the Trump Organization from audits of past tax filings, but the original documents that sparked bipartisan outrage remain unchanged. Critics say the latest documents do not have much permanent legal effect and that the door is open for officials, Trump, or others in his orbit to try to enforce the terms in the future.
3) Michigan's Senate primary today will serve as a litmus test of whether the Democrats' progressive wing can win in a presidential battleground state. The primary pits Representative Haley Stevens, a moderate, against progressive Abdul El-Sayed, with Black voters being central to the case. A win by El-Sayed would vault him into national prominence, but a defeat would spark questions about whether progressives can win outside of deeply Democratic areas.

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Iran Says Hormuz Talks Underway, Stocks Rise as Oil Plunge

Mon, 03 Aug 2026 09:42:40 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Iran suggested negotiations to get more ships moving through the Strait of Hormuz are making progress, after President Donald Trump called off what he said was a major attack on the Islamic Republic. Oil fell on Monday, with Brent crude down about 4.5% to just over $83 a barrel, after Iran’s foreign minister, Abbas Araghchi, said discussions between Tehran and Oman over management of the strait are in the final stages. Trump said Sunday that a deal to open the waterway may be close and that new unspecified talks with Iran would begin on Monday.

2) Stocks and bonds rose as the latest sign of easing tensions between the US and Iran pushed oil prices lower, allaying concerns about faster inflation. S&P 500 futures added 0.5%, signaling a positive start to a week awash with key economic data and corporate earnings. Brent crude slid as much as 7.3% to $81.55 a barrel after President Donald Trump called off a planned attack on Iran. Treasuries rose across the curve, with the benchmark 10-year yield dropping four basis points to 4.69%.

3) The US and Japan’s first joint action on the yen in 15 years, with warnings they won’t “hesitate” to move again, has underscored their unprecedented determination to defend the Asian currency. It’s still unclear how much Washington spent to help lift the yen from its four-decade low. But the currency’s rebound points at interventions larger than in 1998 and 2011, when US contributions didn’t surpass the $1 billion mark. Japan alone is estimated to have spent $53 billion on Thursday — a likely single-day record.

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Daybreak Weekend: US Jobs, European Earnings, Vietnam Eco

Fri, 31 Jul 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the July jobs report in the U.S with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to some of the most consequential earnings releases of the year in Europe.
In Asia – a look ahead to key economic data for Vietnam in the week ahead, including numbers on consumer prices and trade.

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Global Chip Rebound; Amazon Gains as Apple Slides Post-Earnings

Fri, 31 Jul 2026 09:36:40 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) A rebound in global chipmakers carried into Friday, buoying stocks to end a month that saw a steep derating in this year’s most popular trade on a positive note. South Korean stocks surged on Friday, with the benchmark Kospi index rising a record 18% and chip heavyweights SK Hynix Inc. and Samsung Electronics Co. climbing 30% and 27%, respectively. The rebound was fueled by positive factors, including bullish reports on the artificial intelligence buildout overseas and a pledge of regulatory support from the government.

2) Amazon shares jumped after the company reported cloud-computing revenue accelerated for a fifth straight quarter, easing investors’ concerns that it won’t produce a return on huge expenditures to meet the booming demand for artificial intelligence. Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated.

3) The yen lost more than half of its intervention-driven gains on Friday as the Bank of Japan kept interest rates steady and Governor Kazuo Ueda offered little fresh support for the currency. Japan’s currency weakened as much as 0.9% to 160.88 per dollar on Friday after advancing as much as 3.3% versus the dollar in New York trading on Thursday.

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US Retaliates Against Iran Strikes; Investors Spooked by Warsh Hold

Thu, 30 Jul 2026 09:50:22 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The US retaliated against Iranian strikes on American forces with a fresh wave of attacks, escalating a conflict that is spreading wider across the Middle East. The US hit dozens of targets in a two-hour operation aimed at degrading Tehran’s ability to threaten American forces, its Arab allies and commercial shipping in the region. Two liquefied-natural-gas vessels were hit by projectiles on Egypt’s Mediterranean coast and caught fire, with a security firm saying the vessels had been struck by drones.

2) Investors dumped 30-year Treasury bonds, sending the yield up as much as 14 basis points to nearly 5.23%, after the Fed kept interest rates unchanged for a seventh consecutive month. Market measures of inflation expectations rose, the dollar slid, and stocks tumbled as investors wagered Chairman Kevin Warsh was only delaying an inevitable rate hike.

3) Meta gave a disappointing quarterly revenue forecast, stepping up pressure on Chief Executive Officer Mark Zuckerberg to allay investor concerns that the company isn’t swiftly benefiting from its massive outlay on artificial intelligence. The social media giant reported the lowest free cash flow in years, a sign of ballooning expenses for AI bets, including data centers and smart glasses, which could amount to $145 billion this year. Meanwhile, Microsoft's Azure cloud revenue rose 43% during the fiscal fourth quarter, the fastest quarterly growth since early 2022. CFO Amy Hood said she expected growth in the cloud unit to accelerate further in the current quarter, to about 45%, and that demand continues to exceed available supply.

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Earnings Roundup: Meta, Microsoft & Qualcomm

Wed, 29 Jul 2026 21:15:00 +0000

Listen for instant reaction and analysis of megacap tech earnings from Meta, Microsoft and Qualcomm.

Meta Platforms gave a disappointing revenue forecast for the current quarter, intensifying investor concerns about the social media giant’s unprecedented spending on artificial intelligence and sending shares lower afterhours. Microsoft’s cloud unit grew at the fastest pace in four years, suggesting that the company’s computing infrastructure and artificial intelligence services continue to make inroads with businesses. Shares of Microsoft rose in extended trading. Qualcomm, the largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market. The company’s stock fell afterhours.

To break down all of this, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

Ed Ludlow, Host, Bloomberg Tech
Mandeep Singh, Global Head of Technology Research, Bloomberg Intelligence

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Iran Attacks US Bases; Oil Jumps as Fighting Erupts

Wed, 29 Jul 2026 09:36:40 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Iran fired on American forces overnight and the US and Saudi Arabia struck Tehran-backed militias in Iraq, abruptly ending a days-long lull in hostilities.
The US and Iran had paused attacks at the end of last week to give diplomacy another chance, leading to a significant drop in energy prices.

2) Oil surged as a fresh round of fighting erupted across the Middle East, threatening further disruptions to energy flows and severely undermining diplomatic efforts to end the months-old conflict.
Brent climbed almost 4% to above $87 a barrel, paring some of the 16% loss over the past three sessions that was its biggest such decline since 2020. Since the start of July, the benchmark has traded in range of almost $32.

3) US stocks edged higher as traders held off on major bets ahead of a US interest-rate decision where markets see room for a hike and earnings from two of the world’s biggest spenders on artificial intelligence.
S&P 500 futures rose 0.2%. Nasdaq 100 contracts were flat after a selloff in chipmakers left the underlying index on the brink of a technical correction. Treasuries stalled after three days of gains, with traders assigning about a 30% chance of a Federal Reserve rate increase. The dollar barely budged.

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Trump Talks Up Iran Diplomacy; Chip Rout Deepens on China Competition

Tue, 28 Jul 2026 09:53:35 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The US and Iran extended their pause in hostilities, with the focus turning to talks between Tehran and Oman over restarting traffic in the Strait of Hormuz.
Omani and Iranian negotiators met in Tehran over the weekend and discussions are ongoing, according to people familiar with the situation, asking not to be identified referring to sensitive matters. A deal to get ships moving through the waterway more frequently would enable the Islamic Republic and the US to resume formal negotiations about Tehran’s nuclear program and permanently ending their five-month war, the people said.

2) A selloff in semiconductor stocks deepened as signs of progress in China’s advanced chipmaking compounded worries about the sustainability of the artificial intelligence spending boom.
US technology-heavy Nasdaq 100 futures fell 0.6%, while in Asia, a 7.5% slump put a Bloomberg gauge of semiconductor shares on course for its biggest decline since April 2025.

3) Taiwanese prosecutors detained an Nvidia Corp. employee as part of a probe into the alleged smuggling of AI chips into China, thrusting the US company into a high-profile case concerning the black market for its products.
Local investigators searched the home of the staffer and his desk at Nvidia’s Taipei office on July 24, according to people familiar with the matter. The courts later granted prosecutors’ request to detain the person on allegations of forgery and breach of trust, the people said, asking not to be named as the employee’s identity isn’t public.

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US & Iran Hold Fire For Now, Three Shot Dead In Seattle

Mon, 27 Jul 2026 09:48:26 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The US and Iran held off attacks on one another for a third straight night, helping lift global stock and bond markets and push down oil prices. President Trump is giving diplomacy “some space,” according to Mike Waltz, Washington’s ambassador to the United Nations, after Trump threatened to step up attacks in Iran. Iran’s army says it has halted its retaliation against US bases and troops in the region as a result of Trump’s decision to hold off on strikes, but tensions between the warring sides remain high.

2) Three people were killed and at least five others injured in a shooting at a food festival near Seattle’s Space Needle landmark on Sunday. Seattle police are investigating and advised people to avoid the area, with one suspect taken into custody and another suspect remaining at large. The shooting happened during the Bite of Seattle festival, with police believing that two people were shooting at each other and asking witnesses to come forward with information.

3) Nvidia will invest $1 billion in Naver Corp. to help finance an AI data center under construction in South Korea. Nvidia is teaming up with SK Group to build more than 2 gigawatts of AI data centers on the Korean Peninsula. It comes amid a Wall Street Journal report that the company is in talks to provide a roughly $250 billion backstop for OpenAI as part of a massive data center project.

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Daybreak Weekend: US Tech, BOE Decision, BOJ Meeting

Fri, 24 Jul 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the next decision from the Federal Reserve and a preview of three tech stocks for the week ahead.
In the UK – a look ahead to the next monetary policy decision from the Bank of England.
In Asia – a look ahead to the next monetary policy decision from the Bank of Japan.

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Trump Considers "Massive" Iran Attack, Imposes New Tariffs

Fri, 24 Jul 2026 09:34:14 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) President Trump said he’s considering a “massive attack” on Iran to push the nation to negotiate a peace deal. The president told Axios that Iran isn’t ready to make a deal and “they haven’t received enough pain yet,” and that he was “close to making a decision” on attacks that would be “bigger than ever before.” The US has launched strikes intended to degrade Iran’s ability to attack commercial shipping in Hormuz, and Trump has threatened “major military punishment” on Iran and the Houthi militant group it backs in Yemen if they target commercial ships.

2) President Trump is rebuilding his tariff strategy with new levies on 60 economies. The US will collect duties of between 10% and 12.5% on imports from most major trading partners, following an investigation into the alleged failure of around 60 economies to prevent forced labor in their supply chains. Goods from some trading partners deemed to have adopted forced-labor restrictions will be subject to 10% tariffs, including Mexico, the UK, Canada and India, while duties on items from the European Union and Taiwan won’t exceed 10%. The rates under the new authority took effect Friday at 12:01 a.m. New York time, with certain exemptions, such as for products that can’t be produced in the US or where tariffs would cause economy-wide disruptions.

3) Intel delivered a revenue forecast that shattered Wall Street estimates, indicating that booming data center spending is helping fuel a long-awaited turnaround. Sales will be $15.8 billion to $16.8 billion in the third quarter, with the low end of that range easily clearing the $15.1 billion average analyst estimate. The outlook underscores Intel’s gains with data center customers, which are clamoring for chips to satisfy demand for artificial intelligence computing, with sales in that segment soaring 59% last quarter.

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New Front In Iran War; Big Tech Earnings Falter

Thu, 23 Jul 2026 09:34:09 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The Iran-backed Houthis claimed their first attack on commercial ships in recent months, targeting two Saudi Arabian oil tankers in the Red Sea with missiles and drones. The Saudi government confirmed an attack on one refined-products tanker, called the Encelia, and the British navy said a tanker was struck by a projectile near the Saudi town of Al Shuqaiq. The move could effectively close another maritime chokepoint vital to energy markets, following Iran’s shutdown of the Strait of Hormuz, and oil prices are rising and Brent crude jumping.

2) Alphabet raised its capital spending forecast to a range of $195 billion to $205 billion this year, up from a previous forecast of $190 billion. The company's quarterly cash flow was negative for the first time since going public, with negative free cash flow of $5.9 billion in the period, and its cloud revenue totaled $24.77 billion, up 82% from a year earlier. Alphabet's cloud backlog grew to $514 billion, with over half expected to convert to revenue within 24 months, and the company's net income was $9.11 a share, well above Wall Street's forecasts.

3) Tesla's profit tumbled despite a strong quarter for its automotive business, pressuring Elon Musk's plan to refocus the electric-vehicle maker on artificial intelligence and robots. Spending on ambitious initiatives surged to $5.8 billion in the second quarter, resulting in Tesla's first cash burn in two years, and the company still expects capital expenditures in excess of $25 billion this year. Tesla's shares were down about 5% in pre-market trading in New York on Thursday, after the company reported adjusted earnings that fell short of analyst estimates and negative free cash flow of $1.09 billion.Eric Mollo

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US & Iran Shun Diplomacy, 100% Drug Tariffs Plan

Wed, 22 Jul 2026 09:39:17 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US widened the scope of its airstrikes on Iran overnight, striking a military site near the north-western city of Tabriz. The Iranian government activated air defenses in Tehran and the US struck other areas, with Iran firing on US bases in Kuwait, Bahrain and Jordan. There are no negotiations between the US and Iran, with a spokesman for the Iranian ministry saying "our new message is that the enemy violated the memorandum and should implement it."
2) President Trump said generic drug manufacturers must move production to the US or face a 100% import duty from August 2028. The move aims at “reshoring” generic pharmaceutical production in the US, with companies that don’t build plants onshore facing levies that would then double, to 200%, in August 2029. The planned tariffs would raise costs for manufacturers, risking higher prices and potential shortages for generic treatments that account for more than 90% of US prescriptions.
3) New Jersey Governor Mikie Sherrill said about 6,600 people who identified themselves as noncitizens were registered to vote due to a software error in the state’s motor vehicle system. The applicants answered “no” when asked on a keypad whether they were US citizens while applying for driver’s licenses and identification cards, but the system registered them anyway. A preliminary analysis found that fewer than 400 of the people who were registered cast ballots, and they were registered as Democrats, Republicans and unaffiliated voters, and were spread across the state.

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US-Iran Strikes Extend to 10th Day; Trump Vows 50% Tariff on Canadian Goods

Tue, 21 Jul 2026 09:40:03 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran exchanged strikes for a 10th consecutive day as mediators sought to revive a truce, with the US targeting military command centers and Iran attacking US military sites in Kuwait and Jordan. The Houthi militant group in Yemen threatened shipping in the Red Sea, and the Saudi-led coalition said it is taking steps to protect ships sailing in the area. Oil prices have surged and US retail gasoline prices have climbed back over $4 a gallon, potentially hurting Trump and his Republican Party before midterm elections.
2) The Trump administration vowed to impose a fresh 50% tariff on some Canadian goods over what it said was unfair treatment of American alcohol, cars and dairy. The items subject to the new tariff include milk, hockey equipment, beer and plywood — but not major resource imports such as energy, potash and critical minerals. The tariffs are being applied under Section 338 of the 1930 Tariff Act, which gives the president the power to impose duties of as much as 50% on countries deemed to discriminate against US commerce.
3) President Trump said he had a “very good conversation” with new UK Prime Minister Andy Burnham and that they would be meeting in the “not too distant future." Trump and Burnham discussed many subjects, including the outstanding relationship between the US and the UK, North Sea oil, trade, and demining the Strait of Hormuz. Burnham's office said the prime minister congratulated Trump on the World Cup tournament and invited the president to visit Manchester in one of his first calls as UK leader.

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US Bombs Iran After Troops Killed, UK Gets Another New Leader

Mon, 20 Jul 2026 09:50:49 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US conducted a ninth straight day of airstrikes on Iran, targeting military targets and communications networks. Iran continued to attack US bases in several countries, and the standoff shows no sign of easing, with Iran refusing to relent over the Strait of Hormuz. The US-Iran interim peace deal has all but collapsed, and talks over Tehran's nuclear program and a permanent cessation of hostilities have stalled.
2) Andy Burnham is set to become the UK's prime minister with numerous outstanding questions about his cabinet and policy direction. Burnham will pledge to deliver improvements in people's lives and set out his domestic priorities, concluding with a "message of optimism" about Britain's future. The incoming leader will inherit a range of challenging issues, including immigration, welfare, productivity, and social care, as well as navigating global relationships, including with US President Donald Trump.
3) Spain won its second World Cup title, defeating Lionel Messi’s Argentina 1-0 in extra time. The World Cup has been a commercial success, with FIFA increasing its four-year revenue expectations by about $2 billion and more than 15 million people attending stadiums and fan festival areas. The tournament was marred by controversy, including President Donald Trump's intervention on behalf of a suspended American player, which led to criticism of FIFA's obsession with money and power.

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Daybreak Weekend: New Home Sales, UK Prime Minister, Japan Marine Day

Fri, 17 Jul 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to new home sales data with a focus on three stocks for the week ahead.
In the UK – a look ahead to the UK preparing to usher in its 7th Prime Minister in 10 years.
In Asia – a look ahead to Japan Marine Day.

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Trump Accuses China of Election Meddling; US and Iran Escalation Fears

Fri, 17 Jul 2026 09:58:03 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Donald Trump accused China of interfering with US elections in 2020, threatening to upend ties with the world’s second-biggest economy as he focuses on securing a victory in the midterms in November.
2) Concerns are growing that the US and Iran will intensify hostilities, with the sides clashing for a sixth straight day and Tehran refusing to back down over the Strait of Hormuz. The US hit southern Iran overnight, widening the scope of its targets by striking six road bridges, according to Iranian state media. There were separate reports of attacks on the southern town of Bushehr, which houses the country’s only nuclear power plant, and the western province of Lorestan.
3) SpaceX said it will aim to launch its Starship rocket again in a few days after aborting Thursday’s mission when some of its engines didn’t fire up, sending shares lower.Starship was slated to take off on its 13th major mission from SpaceX’s South Texas launch facility, called Starbase, at 5:45 p.m. local time. But right at the planned liftoff time, plumes of smoke erupted from the launch tower, and the rocket remained in place.

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US Bombs Persian Gulf Supertanker, Warsh: Trump Hasn't Interfered

Thu, 16 Jul 2026 09:57:51 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US struck Iran for a fifth straight day and hit a sanctioned oil tanker near the country's main export terminal. Iran responded to the US's barrage by firing upon American bases in Kuwait and Jordan, with the Jordanian government intercepting eight missiles. The US and Iran accuse each other of breaching the terms of a memorandum of understanding, which was meant to reopen the Strait of Hormuz but worded ambiguously as to how fast that would happen. It comes as Fatih Birol, the Executive Director of the International Energy Agency, says the global economy faces a renewed challenge if the conflict that's choked the Strait of Hormuz isn't resolved in a matter of weeks.
2) Acting Attorney General Todd Blanche told senators he would support legislation to foreclose the creation of a $1.8 billion government weaponization fund. Blanche committed to helping craft the legislation during a hearing before the Senate Judiciary Committee on his nomination to be attorney general. Senators questioned whether Blanche can operate independently from President Trump, who he previously represented in criminal cases while in private practice.
3) Federal Reserve Chairman Kevin Warsh said that President Trump hasn’t tried to interfere with the central bank. Warsh stated that he would continue to do his job independently, even if Trump tried to influence the conduct of monetary policy. Trump reiterated his view that he would like to see interest rates go down, saying he would like the country to have the lowest rate anywhere in the world.

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Trump Will Escalate Attacks; ICE To Halt Vehicle Stops

Wed, 15 Jul 2026 10:00:10 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said he would intensify the US's bombardment against Iran until it stops attacking ships in the Strait of Hormuz and agrees to open the waterway. A US-Iran interim peace deal signed around a month ago has all but collapsed over the past week as the two sides feud over control of the vital strait. Trump pledged to bomb Iran again and continue until Iran relents, saying energy targets in Iran will be left "for last".
2) The Department of Homeland Security has ordered immigration agents to temporarily halt most vehicle stops during deportation operations after a fatal shooting in Maine. US Immigration and Customs Enforcement agents will suspend vehicle stops except for those targeting serious criminal cases until ICE officers receive new training on vehicle stops. The policy change comes after the second fatal shooting by immigration agents in a week, with the first being the fatal shooting of a Mexican construction worker during a traffic stop in Houston.
3) Acting Attorney General Todd Blanche is set to appear before the US Senate in support of his nomination to lead the Justice Department. A federal judge in Miami issued harsh criticism of Blanche's actions in settling President Donald Trump's lawsuit against the Internal Revenue Service, suggesting his involvement raised conflict of interest concerns. The Justice Department's settlement with the president has faced rare GOP pushback, and Blanche is expected to be grilled about the settlement and other politically explosive matters during his nomination hearing.

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US Reinstates Blockade of Hormuz; Graham's Sister Appointed to Senate

Tue, 14 Jul 2026 09:37:13 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump reinstated the US blockade of Iranian ships transiting the Strait of Hormuz and demanded a 20% reimbursement for all other cargo shipped through the waterway. US military forces will resume blockading traffic to and from Iranian ports and coastal areas, and the president said the strait "will remain OPEN, with or without Iran." Iran sees any challenge to its authority in the strait as a breach of the interim peace agreement, and the renewed blockade may prompt further attacks on commercial vessels.
2) South Carolina Governor Henry McMaster picked Darline Graham Nordone to complete the remainder of the late Senator Lindsey Graham’s term, which expires in January. Nordone will serve out the remainder of the term and is seen by many analysts as a placeholder until voters elect a more seasoned candidate. Nordone said she promises to work hard to support the president and carry forward the efforts of her brother, and will be sworn in on Tuesday afternoon.
3) A US immigration officer shot and killed a person in Maine on Monday morning, according to the Department of Homeland Security. The incident occurred in Biddeford, where ICE agents attempted to stop a vehicle that departed from the last known residence of an individual who had received a deportation order. The officer has been placed on leave and the Maine Attorney General's office is investigating the shooting with assistance from state, local and federal authorities.

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US-Iran Strikes Escalate; Lindsey Graham's Legacy

Mon, 13 Jul 2026 09:34:12 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran exchanged fresh strikes overnight into Monday as they continued their tit-for-tat attacks while issuing conflicting declarations over whether the Strait of Hormuz was open to shipping. US Central Command said American forces carried out a new round of attacks to degrade Iran’s ability to threaten shipping in the narrow waterway, hitting dozens of targets including Iranian air-defense systems and missile capabilities. Tehran retaliated with attacks on US allies in the Persian Gulf and beyond, targeting US bases in Kuwait, Bahrain and Jordan, and oil prices rose on fears that renewed clashes could further disrupt flows through Hormuz.
2) The death of Senator Lindsey Graham leaves key US allies like Ukraine without one of their most effective conduits to the White House. Graham had spent much of President Trump’s second term trying to sustain US support for Ukraine’s defense against a Russian invasion, despite the US president’s testy relationship with Ukrainian President Volodymyr Zelenskyy. Ukraine and other US allies will have to find other advocates, which won’t be easy, as Graham had honed a unique skill set, combining a close relationship to Trump, the ability to work with Senate Democrats and deep ties with foreign leaders.
3) South Korea’s AI-fueled stock rally came under renewed pressure Monday as SK Hynix Inc. tumbled by a record 15%, underscoring growing investor concerns that the boom had become overstretched. The selloff sent the benchmark Kospi index down 9% and triggered a market-wide trading suspension, with peer Samsung Electronics Co. dropping nearly 11% and foreign investors offloading 1.7 trillion won worth of Kospi shares. SK Hynix’s market cap closed the day at $875 billion, with the company’s shares down at least 30% from peaks last month, as the excitement that powered the rally gives way to a much harsher reset in expectations.

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Daybreak Weekend: US CPI, ECB Outlook, South Korea Constitution Day

Fri, 10 Jul 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI and PPI data, along with a focus on three stocks for the week ahead.
In the UK – a look ahead to what lays ahead for the European Central Bank as it grapples with a uncertain inflation landscape.
In Asia – a look ahead to South Korea’s Constitution Day.

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US-Iran Talks Continue; SK Hynix's US Debut

Fri, 10 Jul 2026 09:41:04 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Talks between the US and Iran over a permanent peace deal are continuing, according to an American official, despite clashes that threatened to shatter an already fragile ceasefire. The US is still committed to finding a diplomatic solution with Iran, with ongoing discussions described as technical talks, aiming to agree a permanent peace by around mid-August. The US and Iran are trying to resolve issues including the Islamic Republic's nuclear program, with the US seeking a moratorium on Iran enriching uranium and the relinquishment of existing stocks of near-bomb grade uranium.
2) President Trump fired two Democratic members of the US Election Assistance Commission, and the Republican member resigned, according to a White House official. The commission's bipartisan mission is to help election officials improve the administration of elections and help Americans participate in the voting process, as stated on its website. The terminations were called "deeply concerning" by Michael Waldman, president of the Brennan Center for Justice, who said they leave the agency without leadership and unable to carry out its major responsibilities.
3) SK Hynix's US debut is paving the way for a fresh wave of leveraged products tied to the South Korean memory giant's shares. At least half a dozen products will launch next week, delivering two times the daily return of SK Hynix's American depositary receipts, with some preparing inverse wagers. The emergence of leveraged ETFs is not viewed as a healthy sign as it may be indicative of late-cycle retail behavior and could fuel already heightened volatility.

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US Launches Iran Strikes For Second Day; Platner Ends Senate Bid

Thu, 09 Jul 2026 09:47:46 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US military struck Iran for a second day, hitting about 90 targets to further degrade the Islamic Republic’s ability to attack commercial shipping in the Strait of Hormuz. Iran responded by targeting US bases in Bahrain, Kuwait and Qatar, according to the semi-official Iranian Students’ News Agency. The attacks raise fears that the tit-for-tat attacks may derail talks on a permanent peace deal, with the US and Iran having accused each other of violating a memorandum of understanding that established a short-term truce.
2) Graham Platner suspended his US Senate campaign in Maine following a sexual assault allegation that caused his support from fellow Democrats to collapse. The Maine Democratic Party will hold a nominating convention to choose a new nominee if there is a vacancy to fill, with the process to replace Platner needing to play out before a July 27 deadline. The race to replace Senator Susan Collins is considered essential to the Democratic party's chances of taking control of the Senate, with several potential candidates taking steps to prepare for a run.
3) SK Hynix's US listing is more than seven times oversubscribed, according to people familiar with the matter, underscoring strong investor appetite despite recent volatility in the Korean memory chipmaker's shares. The sale of 177.9 million American depositary receipts has attracted demand from institutional investors including global long-only funds and sovereign wealth funds, some of the people said. The offering would raise about $24.5 billion, according to Bloomberg calculations, and would rank among the largest ever debuts in the US by a foreign company, second only to Alibaba Group Holding Ltd.'s $25 billion debut.

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Trump Declares Iran Ceasefire Over; NYC Aims to Stabilize High-Rise

Wed, 08 Jul 2026 09:55:04 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said his tentative ceasefire with Iran is done, raising the prospect of a renewed military conflict between the two countries. Trump's remarks came after the US launched a new wave of strikes against Iran and revoked a waiver that allowed the sale of Iranian oil, in response to recent attacks on ships transiting the Strait of Hormuz. The developments marked the most serious threat to the interim peace deal, with the US blaming Iran for the attacks on shipping, and Tehran saying the military strikes and waiver revocation violated the agreement between the two countries.
2) New York City officials were racing to stabilize a high-rise building in Manhattan after cracks developed in multiple columns and floors began to sag. The building remains unstable, according to Mayor Zohran Mamdani, who said this is an extremely serious situation. A team entered the structure and determined that contractors can move forward with the installation of temporary shoring to stabilize the building, according to city officials.
3) Nvidia's stock is the cheapest it's been since before the AI boom, after losing roughly $1 trillion in market value in less than two months. The chipmaker's stock has tumbled 16% since hitting an all-time high on May 14, as investors favor competing semiconductor manufacturers, particularly those in the memory market. Nvidia is expected to deliver the fourth-fastest revenue growth in the S&P 500 this year, but its shares are still cheaper than about half of the stocks in the index, including Hershey and Dominion Energy.

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NATO Leaders Tout Defense Spending; US Knocked Out of World Cup

Tue, 07 Jul 2026 09:47:29 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) NATO allies unveiled billions in defense industry deals to buy next-generation drones and surveillance planes as allies attempt to convince President Trump that Europe is heeding his spending demands ahead of the NATO Summit. Eleven countries will buy airborne radar-detection systems from Swedish aerospace firm Saab AB, replacing a US-made Boeing Co model, in a deal worth $5 billion. Allies will invest more than $40 billion in counter-drone capabilities over the next five years, according to NATO Secretary General Mark Rutte.
2) Maine Democrat Graham Platner is under pressure to end his bid for a US Senate seat following a sexual assault allegation he has denied. Senate Democratic leader Chuck Schumer and Senator Kirsten Gillibrand called on Platner to step aside and vowed to cut off the party's funding for him if he stays on the ballot. Several Democrats, including Senator Elizabeth Warren and Representative Ro Khanna, have withdrawn their endorsements of Platner and urged him to leave the race, citing the "troubling and deeply serious" allegations against him.
3) Team USA’s run in the World Cup came to an end as it failed to make the quarterfinals, losing 4-1 to Belgium. Outrage over FIFA’s decision to allow striker Folarin Balogun to play continued to simmer after the organization reversed his one-game ban. The reversal sparked outrage across the world, with UEFA calling it “incomprehensible and unjustifiable” and accusing FIFA of crossing “a red line."

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Trump Heads to NATO Summit; Oil Swings as Hormuz Flows Persist

Mon, 06 Jul 2026 09:47:18 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump will meet with Ukrainian President Volodymyr Zelenskyy at a NATO summit in Turkey on Wednesday that will be charged with tension over the US leader’s views on Greenland, European defense spending and the Iran war. Trump arrives in Turkey on Tuesday, when he will meet with President Recep Tayyip Erdogan before a summit with the full defense alliance the next day, White House spokesperson Anna Kelly said. Meantime, Ukraine failed to intercept a single Russian ballistic missile in a deadly overnight attack on the eve of the NATO summit, highlighting Kyiv’s growing vulnerability as shortages of US-made Patriot air defenses become acute and peace talks remain stalled. Eleven people were killed and 60 injured in the overnight strikes on Kyiv that caused destruction in several districts of the city, damaging multiple residential buildings, Zelenskyy said Monday on X.
2) Oil fluctuated in a narrow range, as flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Brent traded above $72 a barrel, while West Texas Intermediate was near $69. Oil and gas shipping along a US-protected corridor in the waterway showed signs of recovering Sunday, a day after several vessels had performed unexplained U-turns and detours in the energy chokepoint. Separately, OPEC+ members backed another modest rise in quotas for next month, with seven nations led by Saudi Arabia and Russia agreeing to add 188,000 barrels a day in a further roll-back of curbs made several years ago.
3) US futures signaled a mild rebound in technology stocks at the start of a week in which South Korea’s memory giants will put the artificial-intelligence trade to yet another test. Nasdaq 100 contracts climbed 1% after the US holiday break. The Stoxx 600 hovered near a record high. Asian stocks fluctuated, with Samsung Electronics Co.’s 164% year-to-date rally set to face the spotlight when the chipmaker releases earnings for the June quarter on Tuesday. The report will be followed days later by peer SK Hynix Inc.’s massive ADR listing.

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Daybreak Weekend: AI's Job Impact, NATO Summit, China Eyes New Eco Data

Fri, 03 Jul 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – we look at the potential impact of AI on the labor market
In the UK – we preview the upcoming NATO summit in Turkey
In Asia – we discuss inflation in China ahead of new economic data

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Holiday Special: 2026 Tech Trends with Ives and Munster

Fri, 03 Jul 2026 09:00:00 +0000

Bloomberg’s Nathan Hager looks at 2026's biggest tech stories...so far...and what we can expect for the rest of the year. He speaks with Gene Munster of Deepwater Asset Management and former Wedbush head of Global Tech, Dan Ives.

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Oil Falls; Tech Stocks Slump; Big Jobs Report on Tap

Thu, 02 Jul 2026 09:37:28 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Oil fell for a third day as flows through the Strait of Hormuz climbed and there were signs of progress in indirect talks between the US and Iran. Brent for September traded below $71 a barrel, after sliding more than 3% in the previous two sessions, while West Texas Intermediate was around $68. Oil supply through the critical waterway has reached more than 10 million barrels a day, underscoring Tehran’s now-limited ability to halt shipping, a US official said, while President Donald Trump hailed progress in negotiations.
2) The latest bout of volatility in technology stocks entered a second day, with chipmakers in South Korea bearing the brunt of the selling. The dollar fell and Treasuries wavered ahead of the June US payrolls report.Nasdaq 100 futures dipped 0.4% after semiconductors led Wall Street lower in the previous session. S&P 500 contracts were flat. Memory makers SK Hynix Inc. and Samsung Electronics Co. lost a combined $290 billion in value to drive a 7.9% slump in South Korea’s Kospi index. In Europe, the Stoxx 600 rose 0.5%, with technology among only three of the 20 index sectors to lose ground.
3) The SEC is looking into Susquehanna International Group’s allegations that unknown insider traders made $100 million on options bets ahead of a recent Chinese regulatory crackdown on cross-border brokerages, according to a person familiar with the matter.Susquehanna went public with its claims in a lawsuit filed Monday in Manhattan federal court. The US Securities and Exchange Commission is examining the trades described in the market-making firm’s complaint, said the person, who asked not to be identified discussing the confidential probe.

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US and Iran Talk in Doha; Trump's $1.4 Billion Crypto Haul

Wed, 01 Jul 2026 09:43:10 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) US negotiators Jared Kushner and Steve Witkoff had positive discussions with regional leaders in Qatar and technical talks with Iran are moving ahead. The US and Iran are seeking to ease tensions and forge a longer-term peace deal after recent attacks imperiled an already fragile ceasefire. Progress is being made in separate technical talks, but major issues such as the release of Iranian assets and the future management of the Strait of Hormuz remain unresolved.

2) Progressive insurgents took down establishment incumbents in Colorado midterm primary elections last night. In the 1st District, 29-year-old democratic-socialist Melat Kiros unseated nearly 30-year Congresswoman Diana DeGette. In the closely-watched 8th District, the more progressive Democrat in that race, Manny Rutinel, beat Shannon Bird in a landslide. In the state's Democratic governor's race, state Attorney General Phil Weiser defeated Senator Michael Bennet. However, in Colorado's Senate primary, incumbent John Hickenlooper held off a challenge from self-described insurgent progressive Julie Gonzales.

3) The US government removed foreign access restrictions on Anthropic PBC's Fable 5 artificial intelligence model, clearing it for wider distribution. Anthropic had disabled its models and been in discussions with officials to satisfy safety concerns after the Commerce Department imposed an export control rule. The company will enable Fable 5 access to users globally and allow usage on cloud services run by Amazon, Google, and Microsoft, and will work with Washington to expand access to Mythos 5.

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Iran Wants Hormuz Control, Birthright Citizenship Decision Due

Tue, 30 Jun 2026 09:41:08 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran reiterated its determination to control maritime traffic through the Strait of Hormuz, raising the stakes ahead of fresh talks in Qatar on formally ending its war with the US. Deputy Foreign Minister Kazem Gharibabadi said Iran wants to work out an agreement with Oman to oversee ships passing through Hormuz, but will move forward with its own plans if Oman is not interested. The US, Europe, and Gulf Arab nations are concerned about charges being imposed for the use of Hormuz, which would likely add to energy costs and risk creating a precedent for other countries.
2) President Trump refused to commit to signing a major bipartisan housing bill, saying it was “so unimportant” compared to a voting bill. Trump would make a decision on whether to sign the housing bill once he receives it, which has been formally transmitted to the White House. The bill would curb large institutional investors’ ownership of single-family homes, streamline rules around factory-built housing and encourage localities to remove barriers to construction.
3) The US Supreme Court has four big outstanding cases that will be decided today. They include one which challenges the President's executive order ending birthright citizenship for children born in the US to undocumented parents. Yesterday, the High Court expanded the president’s power to fire top government officials in a 6-3 decision that overturns a 1935 precedent. The ruling lets the president fire Federal Trade Commission member Rebecca Kelly Slaughter despite a law that says commissioners can be removed only for specified reasons.

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US, Iran Halt Attacks; Supreme Court to Rule on Trump Cases

Mon, 29 Jun 2026 09:58:31 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran have agreed to stop attacking each other before peace talks resume over the Strait of Hormuz and other issues. Technical talks are scheduled to continue on all aspects of a memorandum of understanding reached this month, with both sides standing down for now and vessels able to move freely. The exchange of attacks began over the waterway, with the Islamic Republic striking a container ship, prompting Washington to hit Iran, and both sides blaming the other for breaching the ceasefire.
2) Russian President Vladimir Putin said he’s ready to continue talks with US envoys on ending the war in Ukraine. Putin rejected a proposal to halt long-range strikes that have proven damaging for both sides, saying his retaliatory strikes deep into Ukrainian territory are much more powerful. The Kremlin expects US negotiators to travel to Moscow to continue talks on ending the war in Ukraine once Washington is less focused on the conflict with Iran.
3) The US Supreme Court is scheduled to rule on President Trump's bids to oust a Federal Reserve governor and roll back automatic birthright citizenship this week. The court will decide whether Trump can remove Fed Governor Lisa Cook temporarily while she fights mortgage fraud allegations, and whether he can restrict birthright citizenship to babies with at least one parent who is a US citizen or green-card holder. The justices will also rule on other cases, including Trump's effort to fire top officials at executive-branch agencies for any reason, and cases related to election laws and transgender athletes.

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Daybreak Weekend: US Jobs, Wimbledon Tournament, Vietnam Eco

Fri, 26 Jun 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the U.S June jobs report with a focus on three stocks for the week ahead.
In the UK – a look ahead to this year’s Wimbledon tournament.
In Asia – a look ahead to key readings on growth and inflation for Vietnam's economy.

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Ship Attacked in Hormuz; Quake Devastates Venezuela

Fri, 26 Jun 2026 09:54:06 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) An attack on a container vessel sailing through the Strait of Hormuz has prompted some shipowners to review exit plans, but traffic continued to flow in both directions through the vital thoroughfare on Friday. Two fully laden tankers are heading out of the Persian Gulf, while four empty, inbound, very large crude carriers are among the vessels sailing along the Omani coast, ship-tracking data show. This southern route is managed by Oman and coordinated by the US.
2) The death toll from twin earthquakes that rocked Venezuela rose to 235 with thousands more injured, as rescue teams desperately cleared away rubble to reach trapped victims. The powerful 7.2 and 7.5 earthquakes struck within a minute of each other on Wednesday evening, toppling buildings and severely damaging the country’s main international airport. People across the country were frantically searching for missing relatives, with social media filling with photographs and appeals for information.
3) Technology stocks once again pulled global indexes lower as renewed selling in semiconductor manufacturers and a possible delay to OpenAI’s public debut hit sentiment. Oil resumed its slide.

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Senate Reverses Course on Iran; Micron Soars on Forecast

Thu, 25 Jun 2026 09:50:36 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Hours after President Trump excoriated Republicans at a private lunch for backing a war powers resolution to end the Iran conflict, the Senate voted down a separate resolution as two Republicans flipped their votes. Senator Bill Cassidy of Louisiana told reporters he changed his vote after he was reassured by a private briefing he received after engaging in a shouting match with the president at the lunch. And Senator Rand Paul flipped his vote to present, posting on X that he wanted to give the peace talks a chance. The moves are mostly symbolic, but Trump had complained to senators that the passage of the resolution on Tuesday had undermined his negotiating position with the Iranians at a sensitive time, senators said.
2) Micron Technology surged in premarket trading after its quarterly sales forecast exceeded Wall Street estimates, signaling that an AI-fueled growth run remains strong. The company has secured strategic customer agreements that average three years in length, which suggests it can mitigate boom-and-bust cycles in the memory chip industry. Micron's revenue will be approximately $50 billion in the fiscal fourth quarter, with profit of about $31 a share, compared with analyst projections of $43.2 billion and $25.31, respectively.
3) The European Union's US trade deal is set to go into effect after the bloc gave its final sign-off. The EU will erase levies on US industrial goods and some agriculture products in exchange for a 15% tariff ceiling on its US exports. The transatlantic trade relationship remains strained due to unresolved disagreements over issues like metals tariffs and tech regulations.

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Mamdani Allies Sweep Primary Elections; Trump Pushes Back On Iran

Wed, 24 Jun 2026 09:43:52 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Three candidates endorsed by Zohran Mamdani swept to victory in Democratic congressional primaries on Tuesday, showing that the coalition which powered the New York City mayor to a surprising victory last year is gaining strength. Former New York City Comptroller Brad Lander, New York state lawmaker Claire Valdez, and community organizer Darializa Avila Chevalier won in their respective congressional districts, toppling some of the city's most established political figures. The victories were viewed as a test of Mamdani's political strength and appear to have paid off, with the mayor's allies winning in key races and the Democratic Socialists of America expanding its political power at the local and national level.

2) President Trump said Iran will be able to use funds released from frozen accounts only to purchase food and medical supplies from the US. Iran disputed Trump's comments, saying the funds would be used "freely, in whatever manner it deems appropriate," rather than being restricted to purchases from the US. The US and Iran are making progress in peace negotiations, but outstanding issues, including Israel's conflict with Iran-backed Hezbollah in Lebanon, stand in the way of a firm deal.

3) Elon Musk's SpaceX sold $25 billion of investment-grade bonds, replacing costly debt that had helped finance Musk's acquisition of X and expensive loans and bonds issued by xAI. The bond sale will result in SpaceX paying $1.5 billion of interest annually, compared to the $1.8 billion that X and xAI would have spent to service their debt if they hadn't been folded into SpaceX. The bond offering was supported by investors, with $89 billion of orders received at its peak, and will be used to refinance a $20 billion bridge facility and for general corporate purposes.

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Iran To Unlock $12 Billion; Alan Greenspan's Legacy

Tue, 23 Jun 2026 09:42:05 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran said $12 billion of its frozen funds were set to be released as part of ongoing talks with the US, with the two sides broadly signaling progress in negotiations to formally end their war. The unfreezing of funds — as well as the US waiving sanctions on Iranian oil exports and pledging to help set up a $300 billion rehabilitation fund for Iran — has provoked criticism of President Trump. The US and Iran have agreed to set up technical working groups to deal with issues such as unwinding sanctions on the Islamic Republic and curbing its enrichment of uranium.
2) Keir Starmer resigned as UK prime minister after two years in office, and the UK could be set for a quick transition to a new premiership as rivals t o frontrunner Andy Burnham stand aside. Burnham was sworn in as an MP, with the former mayor of Manchester positioned to become Labour’s next leader. The coming switch means the UK will soon have its seventh prime minister in the 10 years since the Brexit vote. Burnham could potentially become prime minister by July 17 if he faces no challengers
3) Tributes to former Federal Reserve Chairman Alan Greenspan poured in after the news of his death early Monday, with many describing him as a driving force for change at the Fed and a guiding light for investors. Greenspan's former colleagues credit him for ensuring the central bank remained focused on inflation, spotting the impact of a productivity boom in the 1990s and shaking up how the Fed communicates. Greenspan's legacy is clouded by the 2008-09 global financial crisis, with critics saying he missed the build-up of a housing bubble that ultimately caused the worst economic downturn since the Great Depression.

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UK Prime Minister Resigns; Alan Greenspan Dies at 100

Mon, 22 Jun 2026 09:40:52 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Keir Starmer said he would step down as Britain’s prime minister, marking a precipitous fall from favor two years after leading the Labour Party back to power with a landslide majority. Starmer’s departure paves the way for Andy Burnham to attempt to take over as successor, after the long-time mayor of Manchester won a parliamentary seat last week in order to mount a challenge. Starmer’s exit opens the door to Britain’s fifth premier since 2022: a jarring milestone for a political system which once prized itself on its stability.
2) Iran said there had been “major progress” in all-night discussions with the US as the warring sides try to reach a peace deal within two months. Iranian Foreign Minister Abbas Araghchi said the mediators, Qatar and Pakistan, had managed to ease some of the tensions over Lebanon, and Iran was beginning to see financial benefits from last week’s memorandum of understanding. Negotiations are set to continue throughout this week, with lower-level delegates discussing technical matters, and a resolution to the fighting in Lebanon will be decisive for the success of the US-Iran talks.
3) Colombia elected conservative lawyer Abelardo de la Espriella president, heralding a swing back to business-friendly and pro-US policies after four years of leftist rule. De la Espriella had 49.7% of the vote to Senator Iván Cepeda’s 48.7%, with 99.9% of polling stations reporting, in one of the closest results in the nation’s history. The final, confirmed result is expected toward the end of the week, after a review process that begins at the municipal level and moves to regional commissions and the national stage.
4) Alan Greenspan, the Federal Reserve chairman proclaimed a wizard for guiding a then-record US economic expansion, only to see his luster dimmed by the financial crisis that erupted less than two years after he stepped down, has died. He was 100.
He died on Monday at his home, NBC News reported, citing his wife, Andrea Mitchell, its chief Washington correspondent and chief foreign affairs correspondent. The cause was complications of Parkinson’s disease.

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Daybreak Weekend: US PCE, London Climate

Fri, 19 Jun 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the next U.S PCE and GDP data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to London Climate Action Week.
In Asia – a look ahead to Australia CPI data.

- Stuart Paul, US Economist with Bloomberg Economics, previews U.S PCE and GDP data.
- Avalon Pernell, Bloomberg Equities Reporter, focuses on 3 stocks for the week ahead.
- Joe Wertz, Bloomberg Weather and Climate Reporter, to preview London Climate Action Week.
- Olivia Rudgard, Bloomberg Green reporter, to preview London Climate Action Week.
- James McIntyre- Bloomberg Economist Covering Australia and New Zealand, previews Australia CPI data.

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Daybreak Holiday: Global Technology, Antitrust, Summer Travel

Fri, 19 Jun 2026 09:00:00 +0000

On this special Juneteenth Holiday edition of Bloomberg Daybreak - hosted by Nathan Hager:

- We survey the big tech landscape ahead of Micron Earnings with Mandeep Singh, Bloomberg Intelligence Global Technology Lead and Anurag Rana, Senior Technology Analyst at Bloomberg Intelligence

-We look at state of anti-trust cases in America with Jenn Rie of Bloomberg Intelligence.

- Plus, We are just days away from the official start of summer..So we thought it would be a good time to look at travel as many get to embark on vacations..We do that with Nikki Ekstein and Chris Rovzar of Bloomberg Pursuits.

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Trump Signs Iran Deal; Warsh Rocks Bond Market

Thu, 18 Jun 2026 09:55:20 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, despite criticism from Republicans. The memorandum of understanding is now in effect, and it envisions the rapid reopening of the strait and immediate sanctions waivers for Iranian oil. The deal has prompted criticism from some of Trump's allies, who say it amounts to a victory for Tehran and that the US is conceding too much, with talks on nuclear issues and potential further financial gains for Iran to follow.
2) Traders dumped short-term Treasuries and bet on interest rate hikes after Federal Reserve chairman Kevin Warsh made clear the central bank won’t tolerate high inflation. The hawkish message was driven home by the projections of individual Fed members, half of whom expect to raise rates by the end of the year. The Fed’s message triggered repositioning in markets, with futures traders expecting a quarter-point rate hike by October and 30-year Treasury yields slipping to the lowest since late April.
3) A ticker-tape parade celebrating the NBA Champion New York Knicks will step off at 10 a.m. from Bowling Green in Lower Manhattan, traveling north along Broadway, and concludes at City Hall Plaza with a ticketed ceremony. The city is preparing for enormous crowds, with spectators expected to number in the millions, and the NYPD will have 10,000 officers at the event. Viewing areas along the route open at 6 a.m., and police will close access points once viewing areas reach capacity, while the mayor’s office gave away 600 tickets to the City Hall ceremony in a public lottery.

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Iran Deal Gives $300 Billion Relief; First Fed Decision for Kevin Warsh

Wed, 17 Jun 2026 09:43:40 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Iran would be allowed to start oil exports immediately under an interim deal with the US and gain access to a $300 billion economic development program. The US Treasury Department will issue waivers for exports of Iranian crude oil and petrochemical products immediately after the memorandum is signed, and the US will end its naval blockade of Iranian ports. The US and its regional partners would create a plan to rehabilitate Iran and allow for its economic development, with financing of at least $300 billion, according to the draft document.

2) Voters headed to the polls in four states and the District of Columbia. The biggest races to watch were two runoff elections in Georgia, where President Trump's endorsement led to mixed results. In the Republican Senate race, Trump-backed Congressman Mike Collins defeated former University of Tennessee football coach Derek Dooley by an 11 point margin - 55.5% to 44.5%. Meanwhile, in the governor's race, President Trump's favored candidate, Lieutenant Governor Burt Jones, lost to billionaire Rick Jackson, 52.7% to 47.4%. It was also a historic primary night in Washington DC. For the first time in 36 years, Democrats have picked a nominee for delegate to Congress who is not Eleanor Holmes Norton. Councilmember Robert White ran away with the nomination with 63.2% of the vote.

3) Federal Reserve policymakers are expected to hold interest rates steady, posing a test for new chairman Kevin Warsh as inflation erodes households' purchasing power. Several officials have outlined scenarios that could warrant rate hikes and want to eliminate language suggesting their next move is likely to be a cut. Investors will be listening for how strongly Warsh expresses support for the central bank's commitment to returning inflation to the Fed's 2% goal.

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US at Odds With Allies Over Hormuz, G7 Summit in France Begins

Tue, 16 Jun 2026 10:04:45 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) US President Donald Trump keeps repeating that the Strait of Hormuz — through which one fifth of the world’s oil and liquefied natural gas supplies normally flow — will reopen by Friday.But on the sidelines of the Group of Seven summit, where Iran likely dominated Monday’s dinner conversation, it’s clear that his European allies don’t share his optimism. They disagree that trade can resume by week’s end, like Trump promised, and have practical questions about what exactly was agreed before they can commit to de-mining missions and patrols.
2) The UK announced new sanctions on what it said was a Russian intelligence network that has been acquiring Western technology for its military to use in Ukraine, as well as a further clampdown on its shadow fleet and illicit finance programs. Britain’s Foreign Office said it was exposing a front company called LLC Neptune Co Ltd, which it said was controlled by Russia’s military intelligence agency, the GRU, and was involved in covertly procuring Western technology for the country’s military.
3) SpaceX shares surged in premarket trading, putting the stock on track to extend a rally following its blockbuster debut last week. The shares rose 11% in New York, poised to build on the more than 40% gain across SpaceX’s first two sessions as a public company. The gains have lifted the market value of the rocket and AI company founded by Elon Musk above $2.5 trillion as of Monday’s close, bringing it within striking distance of Amazon.com Inc.’s nearly $2.7 trillion valuation.

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US, Iran Halt War; Global Stocks Surge on Deal

Mon, 15 Jun 2026 09:38:36 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The US and Iran reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for negotiations on the fate of Tehran’s nuclear program. Officials from the two countries will meet in Switzerland to formally sign the agreement, with key sticking points left for the next stage of talks, including the removal of sanctions and financial incentives for Iran. The agreement could bring peace and security to the region, but its details remain unresolved, and both sides are casting the deal in different lights, underscoring the difficulties that may lie ahead in resolving outstanding issues.

2) Inflation is roaring back at the fastest pace in three years, and investors have been dumping US Treasury bonds and piling into bets the Fed will need to start raising rates by December. Federal Reserve Chairman Kevin Warsh is facing an unusually high-stakes test in his first FOMC meeting as Fed chair, with his maiden press conference and the Fed's post-meeting statement and forecasts to be scoured for clues on what's next. Warsh's commitment to maintaining the bank's political independence will be reassured if he sends a convincing message that the Fed is willing to shift back into inflation-fighting mode, but falling short will rattle markets already worried he could jeopardize the Fed's credibility.

3) SpaceX shares jumped in premarket trading Monday, after its blockbuster debut Friday vaulted it into the ranks of the world’s most valuable public companies. The performance helped bolster confidence in the artificial intelligence rally, following SpaceX’s embrace of AI earlier this year with the acquisition of Musk’s xAI. It also boosted the IPO prospects of Anthropic PBC and OpenAI, both of which plan go public themselves.

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Daybreak Weekend: Fed Meeting, UK Election, BOJ Decision

Fri, 12 Jun 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the next FOMC decision, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to a high stakes UK election and Bank of England decision.
In Asia – a look ahead to a monetary policy decision from the Bank of Japan.

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Instant Reaction: SpaceX Jumps in First Trades Following Record $75 Billion IPO

Fri, 12 Jun 2026 17:45:20 +0000

Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuable public companies in the world.

The stock climbed as high as $176.52, or 31% above its offering price, less than two hours after the shares started trading shortly before noon in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.

For instant reaction and analysis, Bloomberg's Kailey Leinz speaks with:

Yahaira Anand, Bloomberg Television Reporter
Craig Trudell, Bloomberg News Managing Editor of Global Business Coverage
Ed Ludlow, Bloomberg Tech co-host

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SpaceX IPO Debuts; US-Iran Deal Nears

Fri, 12 Jun 2026 09:56:18 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz, according to senior officials. A deal is likely to take the form of a memorandum of understanding, and Geneva is being considered as a potential location for the signing. An Iranian foreign ministry spokesman said "we have not yet reached a conclusion on this matter", despite reports of progress toward ending the war.
2) SpaceX made history with a $75 billion IPO and now needs the market's validation of its ambition to dominate AI and carry humans to the moon and Mars. The company's IPO was more than four times oversubscribed, and indications are that SpaceX shares could open with a pop of at least 35% on its first day of trading. The trading will determine whether Elon Musk becomes the world's first trillionaire and will also affect the prospects for initial public offerings from SpaceX's AI rivals Anthropic PBC and OpenAI.
3) The New York Knicks are on the cusp of winning the NBA finals, and SpaceX is poised to go public in the biggest IPO in history. The NBA finals have had a significant economic impact, with high ticket prices and increased merchandise sales, and ratings are higher than they've been in decades. The SpaceX IPO could have a significant market impact, with investors having mixed views on the company's valuation and potential for growth in the AI sector.

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Knicks Historic Comeback; Trump Promises Iran Attacks if No Deal

Thu, 11 Jun 2026 09:36:17 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The New York Knicks came from 29 points down to beat the San Antonio Spurs 107-106 in Game 4 of the NBA Finals, taking a 3-1 lead in the series. The Knicks' win was capped off by OG Anunoby's tip-in with 1.2 seconds remaining, which followed a long 3-point shot by Jalen Brunson that bounced off the front of the rim. The Spurs had led 81-52 in the third quarter, but the Knicks outscored them 58-30 in the second half to complete the record-breaking comeback.
2) President Trump said he will continue bombing Iran if it refuses to agree to an interim peace deal, following a second night of clashes between the countries’ forces. Iran retaliated by firing on US bases in Kuwait, Bahrain and Jordan, and said the Strait of Hormuz would be closed to all types of vessels. Trump ordered multiple strikes, including around 50 Tomahawk missiles, which Central Command described as “self-defense strikes,” in a signal that Trump wants to avoid restarting a full-on war.
3) US inflation accelerated in May to the fastest pace in more than three years as the Iran war pushed up energy prices, outstripping Americans’ pay gains. Still, President Trump sought to downplay the CPI data, calling the figures “great” and suggesting fuel costs would be even higher if not for US efforts to get oil shipments out of the Strait of Hormuz. “You know what I really love? I love the inflation,” Trump said Wednesday. That’s because once the war is over “it’s going to come down like a rock.”

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US-Iran Exchange Strikes; Platner Wins Maine Primary

Wed, 10 Jun 2026 09:59:02 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran exchanged strikes overnight after President Trump retaliated against Tehran for shooting down an American Apache helicopter. The US military said it had completed an operation that saw fighter jets strike Iranian air defenses, ground control stations, and radar sites near the Strait of Hormuz. Iran launched missiles on four American targets and fired drones at the US's main naval base in the Middle East, with no immediate reports of casualties in any of the attacks.
2) Progressive Democrat Graham Platner won the party's Senate primary in Maine with about 72% support. Platner's campaign was marked by accusations of past misbehavior, including a Nazi symbol tattoo and disturbing behavior towards ex-girlfriends, which he has denied or acknowledged as mistakes. Platner will face Republican incumbent Susan Collins in the November Senate race, which Democrats consider crucial to reclaiming the chamber. Incumbent Lindsey Graham, who was endorsed by President Trump, is projected to win the Republican Senate primary in South Carolina, according to DDHQ. Representative Nancy Mace, once a close Trump ally, finished in last place in the state's gubernatorial race, saying her support for releasing the Epstein files is why she lost. Trump-backed Pamela Evette, South Carolina's lieutenant governor, and state attorney general Alan Wilson advanced to a runoff.
3) Microsoft co-founder Bill Gates is set to appear*behind closed doors before the House panelinvestigating Jeffrey Epstein. Gates has reportedly been getting some help from Jake Greenberg, who, according to the New York Times, was spearheading the oversight panel's Epstein inquiry until December. The Gates Foundation, which has launched an external review of Gates' ties with Epstein, told the Financial Times that it regretted "having any employees interact with Epstein in any way." Gates has not been charged with anything and has called his relationship with Epstein a "huge mistake" and denied any wrongdoing.

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Trump Renews Iran Deal Claims; Knicks Drop Game 3 to the Spurs

Tue, 09 Jun 2026 10:02:40 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump renewed his claims of momentum toward ending the conflict with Iran after a halt to hostilities between Israel and Iran. Iran and Israel agreed to halt strikes on each other following a flare-up that saw both countries launch waves of ballistic missiles, with a ceasefire in place for about two months. Trump told reporters that "we're in the final throes of what will be a very, very good deal" and that they "could have at least an idea one or two days from now" about the deal.
2) The race for California governor is on track for a two-person runoff in November between Xavier Becerra and Steve Hilton. Becerra took first place in the primary with more than 27% of the vote, while Hilton was in second at 25%, according to a tally by Decision Desk HQ. The runoff sets up a showdown along party lines for the governorship of the nation’s most populous state, with Becerra vowing to tackle California’s affordability crisis and Hilton campaigning on criticizing Democratic power in California.
3) The New York Knicks lost their first home NBA Finals game at Madison Square Garden since 1999, with a 115-111 loss to the San Antonio Spurs. Tickets for the game were priced as high as six figures, with demand so high that secondary market tickets reached well into the thousands. The game was attended by notable figures including President Donald Trump, New York City Mayor Zohran Mamdani, and celebrities such as Spike Lee, Jay-Z, and Jon Stewart.

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Iran & Israel Trade Attacks, Security Increased at MSG Ahead of Trump Visit

Mon, 08 Jun 2026 09:57:40 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Israel and Iran exchanged missile strikes on Monday despite President Trump’s calls for both sides to stop fighting and give peace talks a chance. Iran launched a fresh wave of attacks just hours after firing ballistic missiles at Israel on Sunday. Israel responded with strikes on military targets in western and central Iran, while Iranian state media reported multiple explosions in the capital, Tehran.
2) The Houthis, an Iran-backed militant group that controls much of Yemen, declared a ban on Israeli ships in the Red Sea, threatening a key bypass route to the Strait of Hormuz. “We declare a complete and total ban on Israeli maritime navigation,” the group said Monday in a statement. “We consider all enemy movements to be legitimate military targets for our armed forces.” The move comes as the Iran war drags into a fourth month and hostilities flare across the region, threatening to derail a fragile truce and complicate negotiations toward a peace deal. The conflict has led to the near-closure of Hormuz, forcing key Middle Eastern exporters to find alternative routes to global markets.
3) The Secret Service and the New York Police Department barred outdoor watch parties planned near Madison Square Garden for Game 3 of the NBA Finals on Monday night, citing security requirements tied to President Donald Trump’s planned attendance. The ban applies only to Game 3, with officials expecting the New York City watch parties to resume for Game 4. Matt McCool, special agent in charge of the Secret Service’s New York field office, said the two agencies jointly determined that outdoor gatherings near the arena could not be safely accommodated.

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Daybreak Weekend: US CPI, London Tech, China Eco Data

Fri, 05 Jun 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI and PPI data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to London tech week.
In Asia – a look ahead to China PPI and CPI data.

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US-Iran Talks Stall; Senate Passes Bill to Fund ICE and CBP

Fri, 05 Jun 2026 09:43:44 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) There was no sign of progress in ceasefire talks between the US and Iran after the worst burst of violence in weeks. President Trump said ceasefire talks are in the “final” stages, while Iran’s foreign minister said the negotiations had stalled. Hezbollah militants rejected a US-brokered truce in Lebanon, with its chief calling the deal “absurd” and refusing to link its presence in Lebanon with stopping the war.
2) The Senate passed a $69.5 billion bill to fund two immigration enforcement agencies over three years, resolving a months-long dispute. The bill includes $26 billion for Customs and Border Protection, $38.5 billion for Immigration and Customs Enforcement, and $5 billion for additional border support. The bill now heads to the House for a vote before being sent to President Donald Trump's desk for his signature.
3) Russian President Vladimir Putin pushed back at prospects for European leaders to help negotiate an end to his war in Ukraine, dismissing them as mediators. Putin reiterated that he’d reached an agreement with President Trump on what he said was a compromise peace deal at their summit in Anchorage, and that EU states could play a role in ending the war by convincing Kyiv to agree to compromises. Ukrainian President Volodymyr Zelenskyy issued an open letter to Putin calling on him to meet directly to settle the war, and said that both Europe and the US should be part of the process of ending the war.

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Iran Says No Progress in US Talks, Knicks Take NBA Finals Game 1

Thu, 04 Jun 2026 09:58:07 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran said there had been no recent progress in talks with the US over an interim peace deal, while fighting persisted in Lebanon despite Washington’s declaration of a ceasefire between Israel and the country.Iranian Foreign Minister Abbas Araghchi said late Wednesday that “no tangible progress has been achieved in the negotiation process” with the US, according to the semi-official Tasnim news agency.
2) US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in Iran in response. The exchange followed days of Israeli military escalation against Iran-backed Hezbollah in Lebanon, prompting a phone call between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Tensions remain high after the US attacked Iranian radar and command-and-control sites, with Iran trying to target an air base in retaliation and the US and Israel having different ideas about what an end to the war should look like.
3) The New York Knicks' winning streak lives on, and they struck first in the NBA Finals.Jalen Brunson scored 30 points, Karl-Anthony Towns finished with 18 points and 12 rebounds, and the Knicks erased a 14-point second-half deficit to beat the San Antonio Spurs 105-95 in Game 1 of the finals on Wednesday night.

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California Runoff and Other Primary Races; Iran Escalation

Wed, 03 Jun 2026 10:03:20 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) We wrap a number of major primary elections across the country. Republican Steve Hilton and Democrat Xavier Becerra surged to the top of California’s crowded gubernatorial primary, with billionaire Tom Steyer trailing in the contest. In Los Angeles mayor's race, incumbent Karen Bass has been forced into a runoff and could face Republican Spencer Pratt, who is leading second place. In a New Jersey House district which could prove key for Republicans holding their majority in November, former Navy helicopter pilot Rebecca Bennett is projected to win the Democratic primary.
2) US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in Iran in response. The exchange followed days of Israeli military escalation against Iran-backed Hezbollah in Lebanon, prompting a phone call between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Tensions remain high after the US attacked Iranian radar and command-and-control sites, with Iran trying to target an air base in retaliation and the US and Israel having different ideas about what an end to the war should look like.
3) The US is proposing a new tariff of at least 10% on imports from 60 trading partners, following an investigation into how trade partners handle goods allegedly produced by forced labor. A 10% tariff rate would apply to imports from Canada, Mexico, the European Union, Taiwan and the UK, among other places, while products from other major economies, including China, India, Japan, South Korea, Brazil and Switzerland, would be subject to a 12.5% levy. The levies won't go into effect immediately and are subject to a public comment and review period before implementation, which could result in changes before any duties are codified, with written comments due by July 6 and public hearings beginning on July 7.
4) CBS News fired 60 Minutes correspondent Scott Pelley after he confronted his new boss at an internal meeting on Monday. Pelley had questioned the qualifications of Nick Bilton, who was appointed to lead the CBS newsmagazine, and accused CBS News Editor-in-Chief Bari Weiss of “murdering” the program. Pelley said the leadership of 60 Minutes is "no longer recognizable" and that the principles he holds dear are gone, which is why he must leave.

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US, Israel Clash Over Lebanon, Threatening Iran Negotiations

Tue, 02 Jun 2026 09:35:39 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump says he thinks the US can reach an interim peace deal with Iran soon, with discussions continuing "at a rapid pace." Iran's negotiators are discussing their "final text" to send to the US, but are wary of the US due to previous breached pledges. A ceasefire in Lebanon is a key part of the potential memorandum of understanding between the US and Iran, with Iran insisting on a stop to fighting as part of the deal.
2) The White House will reduce tariffs on agricultural equipment, such as combines and harvesters, to reduce costs for US farmers and manufacturers. The tariffs would drop to 15% from 25%, with a lower 10% duty rate possible if capital equipment contains at least 85% US steel or aluminum. The concession takes effect June 8 and would run through the end of 2027, according to a White House fact sheet.
3) The Trump administration's plans to scrap a $1.8 billion legal fund for victims of alleged government "weaponization" have been met with skepticism from Republican senators. The fund was created as part of a settlement resolving the president's lawsuit against the IRS over the 2019 leak of his tax information, and was intended to compensate those alleging they were victims of politically motivated investigations or legal action. Several Republican senators have demanded public assurances that the fund is dead, with Senate Majority Leader John Thune saying "that would be the ideal outcome" and that the administration should make clear the fund won't be established.

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US & Iran Trade Deal Drafts; Oil Rises From Six-Week Low

Mon, 01 Jun 2026 09:37:35 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The US and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz, but it was unclear whether the sides were making much progress. As the diplomatic exchanges continued, Israel expanded its ground assault in Lebanon, shattering a brittle truce with its northern neighbor. President Trump said his proposed deal states clearly “that Iran will not have a Nuclear Weapon,” according to a post on Truth Social. Trump hadn’t spoken on the subject of Iran since a White House Situation Room meeting Friday in which he said he expected to announce an agreement. In a social media post earlier that day, he reiterated his demands, including that Iran suspend its nuclear program and fully restore the strait to its earlier status as a free, international waterway. The semi-official Tasnim news agency, which has close ties to the Islamic Revolutionary Guard Corps, said Sunday that both sides continued to propose amendments, but noted that the US and Iran could ultimately reject the changes, causing the deal to collapse.
2) Oil rose from a six-week low amid uncertainty over the outlook for a peace deal to end the war in Iran. Brent advanced to around $93 a barrel after closing at its lowest since mid-April on Friday, while West Texas Intermediate rose to near $90. The US and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz, but it was unclear if the sides were making much progress. The standoff follows a bout of optimism that some form of peace agreement would be reached — and that energy flows would resume through the Strait of Hormuz — that had caused the first monthly drop in crude prices this year. Brent is still up more than a quarter since the war started at the end of February, as the near-total closure of the vital waterway causes unprecedented turmoil in oil markets.
3) Nvidia is entering the personal computer market with a new chip aimed at loosening Intel’s long-standing stranglehold on the sector and modernizing machines for the artificial intelligence era. Starting this fall, the new RTX Spark Superchip will debut in premium laptop and desktop computers from leading brands, including Dell and Lenovo, Chief Executive Officer Jensen Huang announced during a keynote speech at the Computex trade show in Taiwan. Huang also announced that next-generation Vera central processing units will enter full production in the third quarter of this year, marking the company's first standalone data center microprocessor.

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Daybreak Weekend: US Jobs, Ukraine Funding, Australia GDP

Fri, 29 May 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the May jobs report, along with a focus on three stocks for the week ahead.
In the UK – a look ahead to what comes next in the Ukraine war following fresh EU funds to Ukraine.
In Asia – a look ahead to Australia GDP data.

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US and Iran Reach Preliminary Deal; Dell Soars on Outlook

Fri, 29 May 2026 09:38:59 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran have reached a preliminary deal to extend a ceasefire by 60 days and discuss the future of Tehran’s nuclear program, according to a person with knowledge of the matter. Vice President JD Vance said the US and Iran are “going back and forth on a couple of language points,” including over issues relating to Tehran’s nuclear capabilities, and that Iran appears to be negotiating in good faith. The US Treasury Secretary reiterated President Trump’s three “red lines” — reopening the Strait of Hormuz, Iran surrendering highly enriched uranium and ending its nuclear program — remain in place.
2) Dell shares soared in extended trading after the company gave an outlook for annual sales that far surpassed analysts’ estimates. Revenue in the fiscal year ending in January 2027 will be about $167 billion, including $60 billion from the sale of AI servers, according to the company. Dell’s server business has been viewed as an AI winner this year, sparking the stock more than 150% higher through Thursday’s close.
3) Anthropic PBC raised $65 billion in a funding round that valued the artificial intelligence company at $965 billion including the new investment. The funding was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, with each of the lead investors putting in more than $2 billion. Alphabet Inc.'s Google and Amazon.com Inc. also invested in the round, with Google contributing several billion dollars and Amazon investing $5 billion.

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US Bombs More Iran Targets, Growing Fed Inflation Fears

Thu, 28 May 2026 09:41:12 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US struck Iranian military targets for the second time this week and Kuwait said it responded to missile and drone threats, highlighting the fragility of the ceasefire. US forces shot down Iranian drones fired at a commercial ship and hit a launch unit near the Strait of Hormuz, according to a US official, who said the attacks were defensive and the ceasefire remains intact. President Trump asserted that no one nation would control Hormuz, which has emerged as one of the key obstacles in resolving the conflict, and said the strait's going to be open to everybody.
2) Federal Reserve Vice Chair Philip Jefferson said he expects inflation to cool later this year as the effects of tariffs and higher energy costs wear off, though he warned inflationary risks remain tilted to the upside. In the text of a speech he’s scheduled to deliver Thursday morning in Tokyo at a conference hosted by the Bank of Japan, Jefferson said he is watching for signs that higher energy costs stemming from the Iran war are dragging on consumer spending. He also cautioned that he continues to see signs of labor market weakness. Jefferson repeated his view that the central bank’s current policy setting is well positioned to respond to any developments.
3) Salesforce gave a revenue outlook for the current period that just fell short of analysts' estimates, with revenue expected to be about $11.3 billion in the fiscal second quarter. The company reported fiscal first-quarter remaining performance obligations of $67.9 billion, compared with analysts' average estimate of $68.9 billion, and its stock has declined about 33% this year.

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Paxton Dominates Texas Primary; US-Iran Optimism

Wed, 27 May 2026 09:43:51 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Texas Attorney General Ken Paxton won the state's Republican Senate runoff, defeating incumbent John Cornyn with approximately 63% of the vote. Paxton will face Democrat James Talarico in the November election, and Talarico has released a video focusing on Paxton's 2023 impeachment by the Texas House of Representatives. Republican leaders in Washington will have to decide how much to spend to back Paxton, who has significant baggage, including a history of scandal, to ensure the Texas seat stays in GOP hands.
2) There is some optimism that the US and Iran will reach a peace deal despite fresh hostilities and uncertainty over the vital Strait of Hormuz. The strait remains essentially shut, subject to blockades by the US and Iran, but at least two non-Iranian supertankers exited the chokepoint on Tuesday. Secretary of State Marco Rubio has cautioned that any peace pact would likely take a few days to finalize. Meanwhile, US forces hit targets near the strait, while the Islamic Revolutionary Guard Corps said it fired at multiple US aircraft after they entered Iranian airspace.
3) Strategists at Goldman Sachs Group Inc. joined peers at Morgan Stanley and Deutsche Bank AG in seeing a 17% return for the S&P 500 Index this year. Earnings growth powered by the AI boom will drive further gains in stocks, the Goldman team led by Ben Snider said as they increased their year-end target for the US benchmark to 8,000 points, ditching a previous forecast of 7,600.

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US Strikes Targets in Iran; Russia Tells US to Evacuate Kyiv

Tue, 26 May 2026 09:36:43 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) US and Israeli jets struck Iranian vessels in the Strait of Hormuz and other targets, hours after President Donald Trump had suggested negotiations with Tehran over an interim deal were progressing.The attack took place south of Larak Island in the Strait of Hormuz, with several Iranian personnel killed, Iran’s state-run Nour News reported, without providing further details. Trump earlier said negotiations between the US and Iran over an agreement to extend their ceasefire and reopen the strait were “proceeding nicely.”
2) Russian Foreign Minister Sergei Lavrov called US State Secretary Marco Rubio to advise him to evacuate US citizens and diplomats from Kyiv, as the Kremlin plans to continue heavy strikes on the Ukrainian capital, according to a statement published by the Russian Foreign Ministry Monday.
3) Ferrari NV shares fell almost 8% in Milan after the Italian super-car maker unveiled the Luce, its first fully electric vehicle, marking a sharp setback for one of the industry’s most closely watched EV debuts.The drop shows the challenge Ferrari is facing as it tries to extend one of the world’s most profitable luxury-car brands into battery-powered models. Early negative reactions across analysts as well as social media zoomed in on the four-door, five seater’s design, judged too similar to other electric models such as by Tesla Inc.

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Daybreak Holiday: Kevin Warsh, Costco, Inflation's Impact on Memorial Day

Sun, 24 May 2026 21:00:00 +0000

On this special Memorial Day edition of Bloomberg Daybreak - hosted by Nathan Hager.

We look at the challenges ahead for new Fed Chair Kevin Warsh with Bloomberg News International Economics & Policy correspondent Michael McKee and Anna Wong, Chief US Economist with Bloomberg Economics
We preview Costco and Best Buy earnings with Bloomberg Intelligence Analysts Jenn Bartashus and Lindsay Dutch
And as we we kick off the unofficial start of summer, we will tell why this could be one of the most expensive Memorial Days on record. We break it all down with Bloomberg's Julia Fanzeres and Mark Niquette

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Daybreak Weekend: US PCE, Iceland Eco Conference, Australia CPI

Fri, 22 May 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S PCE and personal spending data, along with a focus on three stocks for the week ahead.
In the UK – a look ahead to the Reykjavík Economic Conference in Iceland.
In Asia – a look ahead to Australia CPI data.

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US-Iran Talks Get Complicated; Stephen Colbert's Final Show

Fri, 22 May 2026 09:56:59 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Iran said the latest US proposal partly bridged the gap between the warring sides, but comments from the Islamic Republic's supreme leader clouded the outlook for a breakthrough. The US has demanded Tehran hand over its enriched uranium and commit to ending enrichment, while Iranian leaders have balked at those terms in public. The conflicting statements on key issues left it unclear if the two sides were any closer to a deal after renewed threats of escalation in recent days.

2) NATO Secretary General Mark Rutte welcomed President Donald Trump's announcement to send additional troops to Poland. The announcement increased a sense of confusion within the alliance, with officials saying they would prefer US moves to be coordinated. The US is expected to announce adjustments to national forces set to be made available in case of crisis or war, which may include cuts to troops in NATO's force model.

3) Stephen Colbert hosted the last episode of his namesake show on CBS, mostly steering clear of political jokes and criticism of President Trump. The show featured a parade of actors and comedians, including Bryan Cranston and Paul McCartney, who closed the program with a performance of the Beatles hit Hello, Goodbye. Colbert's show is being replaced by Comics Unleashed, a program hosted by Byron Allen, who said the show steers clear of politics and intends to make money selling ads.

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Nvidia Earnings Lead to Share Slump; SpaceX IPO Details

Thu, 21 May 2026 09:57:51 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Nvidia reported another blowout earnings report and beat analyst estimates, but faced skepticism from some investors. The tech giant aims to rely less on giant data center operators and predicts other businesses and governments will become a bigger source of revenue for its chips and computing products to support artificial intelligence ambitions. The company faces growing competition from chipmakers trying to carve out a piece of the AI computing business, and major buyers of Nvidia's technology are developing their own in-house components. Nvidia's sales gained 85% to $81.6 billion in the three months ended April 26, and the company boosted its quarterly dividend and announced $80 billion in stock repurchases, but investors were not swayed and shares slipped about 1% in late trading.
2) SpaceX filed for an initial public offering, revealing billions in losses and a super-voting share plan allowing Elon Musk to keep the company under his control. The company's goals include a human settlement on Mars with at least 1 million inhabitants and making data centers in space a reality, part of a $28.5 trillion total addressable market. The IPO is targeted to raise as much as $75 billion, with Musk standing to benefit significantly, including potentially receiving as many as 1 billion shares if he meets certain goals.
3) Iran is assessing the latest peace proposal from the US, as the countries seek to avoid a resumption of hostilities. The exchange of messages is based on Iran’s 14-point text, which suggests a short-term deal that would see Iran reopen the Strait of Hormuz and the US lift a blockade of Iranian ports. Iran gave no indication of when it would respond to the US and reiterated it wants a commitment that fighting will end “on all fronts, including Lebanon.”

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Primaries Show Trump's Political Power; Threat of More Iran Strikes

Wed, 20 May 2026 09:53:32 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Ed Gallrein, President Trump's hand-picked candidate, defeated Thomas Massie in a congressional primary in Northern Kentucky. Gallrein's victory is seen as a sign of Trump's grip over his base in solid Republican states, despite national surveys showing the broader electorate souring on the president's handling of issues. The primary was one of the most expensive on record, with nearly $33 million spent.
2) President Trump threatened to resume strikes on Iran in the coming days as part of the push for a deal to end the war. The Republican-led US Senate signaled opposition to continuing the war with a procedural vote on Tuesday evening that reflected deepening unease over a foreign conflict. Vice President JD Vance projected a slightly more positive tone on the negotiations, saying "we think that we've made a lot of progress, we think the Iranians want to make a deal," but also threatened a resumption of strikes.
3) Talks between Samsung and its largest labor union broke down, raising the prospect of a strike that may disrupt global chip supply and hamper Korean economic growth. A general work stoppage will go ahead after Samsung’s management rejected a proposal from government mediators that had been accepted by the union, according to labor leader Choi Seung-ho. The collapse in negotiations puts the global technology supply chain at risk because Samsung is the world’s biggest supplier of chips that go into devices from data center servers to smartphones and electric vehicles.

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Trump Calls Off Iran Strike; Jury Rejects Musk's OpenAI Claims

Tue, 19 May 2026 09:55:44 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said he called off a new bombardment of Iran planned for Tuesday after Saudi Arabia and other Persian Gulf allies wanted more time to pursue diplomacy. Trump said the US delayed the strikes "for a little while, hopefully maybe forever," because "we've had very big discussions with Iran, and we'll see what they amount to." There was no immediate confirmation from Tehran of renewed talks, and Tehran's leaders have taken a hard line, insisting the US ends a blockade of Iranian ports and provides assurances they won't be attacked again.
2) A jury rejected Elon Musk's claims that OpenAI betrayed its mission to benefit the public by morphing into a for-profit business, finding that he waited too long to sue the company. The verdict is a major relief for OpenAI as it eyes a potential initial public offering, and Musk and his lawyers have vowed an appeal. The jury concluded that Musk had enough knowledge about his claims years ago that he should have sued sooner, and did not address his central claim that OpenAI abandoned its responsibilities to develop AI for the benefit of humanity.
3) New York City’s transit system and Long Island Rail Road workers reached a potential labor agreement, ending a historic strike that suspended service on the largest commuter line in the US. The agreement doesn’t rely on higher-than-budgeted fare hikes or raising taxes to pay for higher wages, according to Governor Kathy Hochul.

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US Tells Iran ‘Clock Is Ticking’; Aaron Rai Wins PGA Championship

Mon, 18 May 2026 09:46:49 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Donald Trump expressed frustration with Iran and told it the “clock is ticking,” hours after drones targeted a nuclear power plant in the United Arab Emirates.Tehran “better get moving, FAST, or there won’t be anything left of them,” Trump said on Truth Social on Sunday. These were his most belligerent comments regarding the Iran war, which remains in a fragile ceasefire, since he returned to the US from China on Friday.
2) Aaron Rai was just another name among a dozen others who had reason to believe the PGA Championship was theirs for the taking Sunday at tough Aronimink.There was Rory McIlroy, Jon Rahm and Xander Schauffele, with 10 majors among them, all ready to seize the moment on a stage that was unfamiliar to Rai.Justin Thomas was the clubhouse leader for nearly four hours after a 65 before the course turned hard under a hot sun.
3) Long Island commuters are poised to battle congested roads and packed buses as a workers’ strike threatens to disrupt travel in and out of New York City unless negotiators can strike a deal.Monday would be the first weekday since the Long Island Rail Road, the nation’s busiest commuter railroad, stopped service on Saturday after roughly 3,500 engineers, signalmen and electrical workers walked off the job following a stalemate between the state-run Metropolitan Transportation Authority and union leaders on a labor deal.

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Daybreak Weekend: Nvidia Earnings, Europe Airlines, Japan GDP

Fri, 15 May 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Nvidia and a focus on three stocks for the week ahead.
In the UK – a look ahead to earnings from Europe’s largest low-cost airlines.
In Asia – a look ahead to Japan GDP data.

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Trump-Xi Summit Wraps in Beijing; Jay Powell's Final Day as Fed Chair

Fri, 15 May 2026 09:56:02 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the US and China share common goals for ending the Iran war, including that the Islamic Republic shouldn’t possess a nuclear weapon and that the Strait of Hormuz should reopen. The US administration wants China’s help pressuring Tehran into negotiations to end the conflict, but Beijing has remained cautious, urging further diplomacy and saying disputes over Tehran’s nuclear program should be resolved through dialog. Xi Jinping hailed the results of his meetings with US President Donald Trump and touted an agreement on a new relationship for their countries. The two countries reached an "important consensus" on maintaining stable economic and trade relations while expanding cooperation in various fields.
2) Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before. The move by Miran was expected given his seat on the Fed’s Board of Governors will be taken by Warsh. The Senate on Wednesday narrowly confirmed Kevin Warsh as chair of the Fed, clearing the way for his swearing soon after outgoing Chair Jerome Powell’s term ends on Friday.
3) Apple's partnership with OpenAI has become strained, with OpenAI preparing possible legal action due to the AI startup not seeing the expected benefits from the deal. OpenAI lawyers are working on a range of options, including sending Apple a notice alleging breach of contract, as the company feels Apple's use of OpenAI technology remains limited and features can be hard to find.

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Xi Warns Trump of Potential Conflict over Taiwan; Senate Confirms Kevin Warsh

Thu, 14 May 2026 09:41:00 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Chinese President Xi Jinping warned President Trump of a potential conflict if the Taiwan issue is mismanaged, saying it is the most important issue in China-US relations. Xi said that if the Taiwan issue is mishandled, the two nations will experience collision or even clashes, pushing the entire China-US relationship into a highly dangerous situation. The US and China discussed various issues, including expanding market access for US businesses, purchasing US energy and agriculture, and addressing the flow of fentanyl precursors, but the Taiwan issue remains a point of tension.
2) The Senate confirmed Kevin Warsh as chair of the Federal Reserve with a 54-45 vote, the slimmest confirmation margin ever for a head of the central bank. The confirmation sets up a test of the Fed's political independence, with Democrats fearing Warsh will bend to President Donald Trump's demands to rapidly lower interest rates. Warsh vowed to maintain the Fed's tradition of making interest-rate decisions free from political pressure, but Trump has made it clear he expects Warsh to lower borrowing costs immediately.
3) Cisco gained in late trading after delivering a better-than-anticipated sales forecast and announcing plans to cut thousands of jobs to focus on the fast-growing AI market. The company said revenue will be $16.7 billion to $16.9 billion in the fiscal fourth quarter, and its restructuring plan is designed to further improve its position in the AI economy. The layoffs will affect fewer than 4,000 jobs, and the company will make strategic investments in areas such as silicon chips, fiber optics, security, and the use of AI by its own employees.

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Trump-Xi High Stakes Beijing Meeting; Iran War Enters 75th Day

Wed, 13 May 2026 09:55:01 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump repeated his military threats against Iran ahead of a visit to China, saying Iran will either “make a good deal” with the US or face devastation. A ceasefire between the US and Iran has lasted over a month but is fragile, with Trump describing it as being on “massive life support” and Tehran continuing to resist US demands. The President is expecting economic deals and a welcome in China, where he will discuss trade, tariffs, and Taiwan with Xi Jinping. The US has targeted Chinese oil refiners and firms providing satellite imagery to Iran, as Trump ramps up his campaign to pressure Tehran into a deal.
2) Oil shipments from Iran's main export terminal appear to have come to a standstill over the past several days, according to satellite images. If Kharg Island were to remain idle, it would increase the pressure on the country's remaining storage facilities, which satellite images show are filling up. The terminal hasn't been shown empty for more than a single day since the start of the war, with satellite images of the Kharg Island jetties on 33 out of the 73 days since the US and Israel launched their attacks.
3) Anthropic is in early talks with investors to raise at least $30 billion in fresh financing at a valuation of more than $900 billion. The round is expected to close as soon as the end of this month, but the deal is not finalized and no term sheet has been signed. Anthropic needs to make deals to pay for enough computing infrastructure to meet growing demand for its products, amid the breakout success of its AI software.

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Ceasefire On 'Life Support'; High Stakes Trump-Xi Meeting

Tue, 12 May 2026 09:41:41 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Shipping traffic in the Strait of Hormuz remained at a standstill on Tuesday, with oil rising after President Trump rejected Iran’s latest offer. Trump called Iran’s response to his proposal a “piece of garbage” and said the ceasefire was on “life support” as he prepares to meet Chinese President Xi Jinping in Beijing. The US sanctioned a dozen entities and individuals over the sale of Iranian oil to China, stepping up economic pressure ahead of Trump's visit to meet Xi.
2) President Trump and Chinese counterpart Xi Jinping will meet Thursday morning in Beijing for a high-stakes summit dominated by discussions on trade and the war in Iran. Trump is expected to press Xi on China's approach to Iran, including revenue for Tehran and potential weapons exports, and will also discuss US arms sales to Taiwan.
3) A defiant Keir Starmer pushed back against widespread calls for him to quit as Britain’s prime minister, telling his Cabinet that he plans to stay on. More than 80 of Labour’s 403 MPs have called on the prime minister to step aside in the wake of last week’s local elections, in which the party lost control of the Welsh parliament and almost three of every five English council seats it was defending. Starmer said the past 48 hours had been “destabilizing” for the UK.

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US Rejects Iran's New Offer; Trump Heads to Beijing This Week

Mon, 11 May 2026 13:09:12 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump and Iran rejected each other’s latest peace proposals to end the 10-week conflict as the two sides struggle to maintain a fragile ceasefire. “I have just read the response from Iran’s so-called ‘Representatives,’” Trump said in a social media post. “I don’t like it — TOTALLY UNACCEPTABLE!” Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported earlier. Iran disputed the report, according to the country’s semi-official news agency Tasnim. It was unclear whether the exchange of proposals would offer a path to reopen the Strait of Hormuz. Under its latest proposal, Iran would dilute some of its highly enriched uranium and have the rest sent to a third country, the WSJ said, citing people familiar with the response, but it also called for guarantees the transferred uranium would be returned if talks fail and ruled out dismantling its facilities.
2) Israeli Prime Minister Benjamin Netanyahu said he would like to end US financial support for Israel’s military over the next decade. “I want to draw down the American support for Israel to zero,” he said in an interview on CBS’s 60 Minutes that aired Sunday. “We’ve come of age.” He added, “I think that it’s time that we weaned ourselves from the remaining military support and go from aid to partnership.” The US currently provides Israel with $3.8 billion a year in military assistance under a 10-year agreement originally negotiated by the Obama administration that lasts through 2028. The US military aid to Israel has at times been a contentious political issue, particularly during Israel’s assault on Gaza in response to the attack by Hamas on Oct. 7, 2023.
3) President Trump is expected to press President Xi Jinping over China’s approach to Iran and hammer out details on a new board of trade when they meet this week in Beijing, senior US officials said Sunday, hours before China confirmed the state visit. Trump and Xi are scheduled for talks on Thursday and Friday in Beijing as they wrestle with strong disagreements over trade and the US-Israeli war with Iran, which counts China as its biggest oil buyer and a key diplomatic backer. In final preparations for the first US presidential trip to China in nearly a decade, Treasury Secretary Scott Bessent will meet his Chinese counterpart He Lifeng for last-minute talks in Seoul on Wednesday, both sides confirmed.

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Daybreak Weekend: US CPI, Cannes Festival, Bessent Visits Japan

Fri, 08 May 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI, PPI, and Retail sales data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the annual Cannes film festival.
In Asia – a look ahead to US Treasury Secretary Scott Bessent's Trip to Japan.

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US & Iran Strike Each Other, Trump's New Tariffs Blocked

Fri, 08 May 2026 09:51:40 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran clashed near the Strait of Hormuz, with US forces targeting missile and drone launch sites and other military assets in Iran. The clashes risk undermining talks over a US-proposed deal to end the war, with Iran expected to send a response via Pakistan in the next two days.
2) A federal trade court declared President Trump's 10% global tariffs unlawful, granting a request by small businesses and mostly Democrat-led states to invalidate the tariffs. The court blocked the administration from enforcing the tariffs against two companies that sued and Washington State, but did not issue a "universal injunction" as other states lacked standing.
3) SoftBank has downsized plans for a $10 billion margin loan backed by its OpenAI stake after facing hesitation from some creditors. The Japanese conglomerate and bankers have mentioned targeting an amount as low as $6 billion in separate discussions with potential lenders in recent weeks.

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Trump Waits For Iran Response, US-EU Trade Deal Stumbles Again

Thu, 07 May 2026 09:57:36 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The Trump administration is waiting on Iran to respond to its proposal to reopen the Strait of Hormuz and end a war that’s killed thousands of people and triggered a surge in energy prices. Iran is expected to give an answer in the coming days, though its leaders have previously shown little sign of yielding on their nuclear program and accepting a moratorium on enriching uranium.
2) The European Union failed to finalize a US trade deal during overnight talks, despite warnings from President Donald Trump that he would soon impose fresh tariffs. Negotiators will continue talks in the coming weeks, with officials committed to moving swiftly, according to Cypriot Energy Minister Michael Damianos. The EU is under pressure from the US to ratify the trade pact, with Trump threatening to increase duties on EU cars and trucks to 25% if the EU doesn't make substantial progress.
3) Secretary of State Marco Rubio leaves for Rome today, reprising his role as a more Euro-friendly voice of the administration. He’ll visit with the pope and Italian leader Giorgia Meloni, who have clashed with President Donald Trump, but the stakes go beyond that. Rubio will land amid wider tension with Europe as the president chose to 5,000 troops out of Germany and threatens to do similar in Italy and Spain, while reupping his attacks on Pope Leo XIV for good measure.

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Report: US, Iran Close to War's End; Trump, China's Xi Prepare for Meeting

Wed, 06 May 2026 09:40:29 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The US believes it’s close to an agreement with Iran to end the near 10-week war, Axios reported, as China added its voice to global diplomatic pressure to wrap up the conflict. Washington and Tehran are working on a one-page memorandum of understanding that would set a framework for more detailed nuclear negotiations, Axios said Wednesday, citing two US officials and two other sources it didn’t identify. Nothing has been agreed yet, the news agency added, and the US expects Iranian responses on several key points in the next 48 hours. Iran hasn’t commented on any progress toward a deal.

2) US President Donald Trump said he would discuss the Iran war with Chinese counterpart Xi Jinping during their summit next week and sought to downplay tensions over the conflict. “That’ll be one subject, but he’s been very nice about this,” Trump told reporters at the White House on Tuesday in response to a question about what he hoped to achieve with Xi on Iran when they meet. “He’s been very respectful. We haven’t been challenged by China,” the president added, even as he acknowledged that Beijing is a significant importer of Iranian oil — supplies of which have been disrupted by the war. “They don’t challenge us. He wouldn’t do that. I don’t think he’d do that because of me, but I think he’s been very respectful.” The leaders are slated to meet in Beijing on May 14-15, a high-stakes summit that comes as the Iran war brings fresh tumult to the relationship between the world’s two largest economies. The war has already delayed the meeting once, sparking anxiety in financial markets.

3) US Ambassador to the EU Andrew Puzder said Washington will implement 25% tariffs on cars and trucks from the European Union “relatively soon” if the bloc doesn’t swiftly ratify a long-delayed trade deal. “Unless we see some substantial progress, I think you probably should expect those relatively soon,” Puzder told Bloomberg Television. US President Donald Trump recently vowed to slap 25% tariffs on European vehicles, accusing the bloc taking too long to ratify the agreement, which was initially reached last July. The EU, meanwhile, is frustrated over several Trump moves it argues undermine Washington’s commitments under the pact.

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US and Iran Trade Fire; Secret Service Shoots Man Near White House

Tue, 05 May 2026 09:45:14 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The fragile US-Iran ceasefire held Tuesday morning after a day of clashes involving shipping in the Strait of Hormuz and missile attacks against the United Arab Emirates. The violence erupted after US President Donald Trump announced “Project Freedom,” which he described as a humanitarian effort to guide neutral ships stranded in the Gulf through Hormuz. Iran warned all ships against trying to get through Hormuz without its permission and hit a South Korean bulk carrier and attacked an empty tanker belonging to the UAE’s state oil firm.
2) A man was shot by Secret Service officers near the White House Monday afternoon after agents spotted him carrying a concealed firearm and he opened fire, according to the agency’s deputy director. The suspect ran, drew a weapon and shot at the officers, who returned fire, striking him. He was taken to an area hospital.
3) Apple held exploratory discussions with Intel and Samsung about producing main processors for its devices in the US, as a secondary option beyond Taiwan Semiconductor Manufacturing Co. The discussions with Intel and Samsung are preliminary and have not resulted in any orders, with Apple having concerns about using non-TSMC technology. Apple is considering additional suppliers due to supply-chain disruptions, including recent shortages driven by the build-out of AI data centers and higher demand for Macs, with CEO Tim Cook saying the company has less flexibility in the supply chain than normal.

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Trump Tests Plan to Reopen Strait; GameStop's $56 Billion eBay Takeover Offer

Mon, 04 May 2026 09:40:11 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) President Trump said the US will help ships stranded in the Persian Gulf transit the Strait of Hormuz, describing it as a “humanitarian gesture” and testing his ability to restore traffic through the strategic waterway for the first time since the war with Iran began. The operation, dubbed Project Freedom, was set to begin on Monday with the US military pledging to provide support, including the use of guided-missile destroyers, aircraft and drones. “The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong — They are victims of circumstance,” Trump wrote late Sunday in a social media post. “If, in any way, this Humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully.” The plan has left shipping executives perplexed, with few details provided by the president. Iran’s military, after Trump’s announcement, said US forces would be attacked if they entered the Strait of Hormuz, according to a statement carried by Iranian broadcaster Press TV.

2) Transportation Secretary Sean Duffy said he doesn’t think the US government needs to provide financial lifelines for now to other low-cost carriers, following the collapse of Spirit Aviation Holdings Inc. “At this point, I don’t think it’s necessary,” he said during a press conference Saturday at Newark Liberty International Airport. “They do have access to cash.” Duffy spoke hours after Spirit ceased operations, leaving passengers and employees stranded across the US. Earlier in the day, he announced measures to support those passengers, saying several carriers including United Airlines Holdings Inc., Delta Air Lines Inc., Southwest Airlines Co., American Airlines Group Inc. and JetBlue Airways Corp. agreed to cap prices or reduce fares for customers impacted by the shutdown.

3) GameStop Corp. is proposing to buy eBay Inc. for about $56 billion in cash and stock, a bold attempt by Ryan Cohen to take over a storied e-commerce name several times larger. The gaming retail chain offered $125 per share in cash and stock for the online marketplace, or about a 20% premium to its Friday close. GameStop, which built a roughly 5% stake in eBay, said it’s secured an initial, non-binding “highly confident letter” from TD Bank to provide about $20 billion of debt financing. In a memo to investors Sunday, Cohen’s company pledged to find some $2 billion of annual savings within 12 months of closing. The takeover bid follows the surprising ascent of GameStop, a chain of video game outlets that shrank its brick-and-mortar footprint after gamers increasingly bought software in digital stores. In 2021, it became the center of a retail-investor frenzy. Michael Burry, the Scion Asset Management head who rose to prominence after a winning wager against mortgages ahead of the 2008 financial crisis, helped fuel GameStop’s rally by taking a bullish stance on the firm around 2019.

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Daybreak Weekend: US Jobs, UK Elections, RBA Decision

Fri, 01 May 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the April jobs report in the U.S and a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the UK’s Midterm local elections.
In Asia – a look ahead to the next RBA Decision.

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Trump Maintains Naval Blockade; Big Tech Earnings Wrap with Apple

Fri, 01 May 2026 09:26:06 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump vowed to maintain a naval blockade on Iran and was briefed by commanders on further military options. Iran's speaker of parliament, Mohammad Bagher Ghalibaf, said the blockade will further push up oil prices and that it must be lifted for new talks to occur. Trump and Iranian leaders are waiting for the other to yield first, with Iran's new supreme leader, Mojtaba Khamenei, casting doubt on the likelihood of a deal and vowing not to give up the country's nuclear or missile technologies.
2) Apple delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.” Apple's total sales gained 17% to $111.2 billion during the fiscal second quarter, with the $599 MacBook Neo being particularly popular and remaining sold out at several retailers.
3) Defense Secretary Pete Hegseth testified before Congress, with Democrats criticizing the Trump administration over the Iran war, calling it illegal, unpopular, and ill-defined. Hegseth defended the war as crucial to keeping Iran from getting a nuclear weapon, but declined to provide new details on operational metrics or the Pentagon's $25 billion price tag.

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US Mulls Iran Military Options; Big Tech AI Spending Bonanza

Thu, 30 Apr 2026 09:54:21 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Brent oil rallied to a four-year high after Axios reported that US President Trump will receive a briefing on new military options for action in Iran. The US and Iran have maintained their blockade of the Strait of Hormuz, with the conflict in the Middle East called the biggest supply shock in history by the International Energy Agency.
2) Alphabet's Google is seeing a clear payoff from its AI spending, with solid growth at its cloud computing unit and a "meaningful acceleration in growth" driven by demand for its AI software and infrastructure. Meta Platforms is lagging behind, with its shares tumbling more than 6% after the company boosted full-year capital expenditures, and its consumer AI app being slower to take off. The four companies, including Amazon and Microsoft, are expected to spend as much as $725 billion in 2026, with a key question being whether that massive spending is providing tangible results.
3) Shares of Bill Ackman's Pershing Square USA Ltd. plunged 18% in its debut after the combined initial public offering raised $5 billion. The $5 billion haul was the bare minimum to keep early investors locked into the deal, and fell short of the $25 billion that Pershing Square sought to bring in. Pershing Square USA deserves to trade at a premium to its net assets over time if the newly listed closed-end fund delivers the same outperformance as the hedge fund firm has in the past, Ackman said.

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Instant Reaction: Jay Powell on the Fed Decision

Wed, 29 Apr 2026 20:08:00 +0000

Bloomberg's Tom Keene and Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve Chair Jerome Powell said he’ll remain at the central bank as a governor after his term as chair ends. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined,” Powell said Wednesday at a press conference.

While Powell’s term as Fed chair ends on May 15, his seat on the Board of Governors doesn’t expire until 2028. “I plan to keep a low profile as a governor,” he said. “There is only ever one chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair.”

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Instant Reaction: Fed Holds Rates, Three Officials Dissent

Wed, 29 Apr 2026 18:58:24 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates.

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Trump Maintains Pressure on Iran; King Charles Speaks to Congress

Wed, 29 Apr 2026 09:35:14 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US signaled it would stick with a naval blockade of Iranian ports, as it tries to choke-off Tehran’s oil exports and force it back to the negotiating table. US President Donald Trump claimed on Tuesday that Iran was in a “state of collapse.” His treasury secretary, Scott Bessent, later said Washington’s “maximum pressure campaign” had caused Iran’s inflation to accelerate and that the country was running out of oil storage. It would soon have to start cutting production, Bessent said.
2) King Charles III called on the US to maintain its leadership role in the world, and to support Ukraine and the North Atlantic Treaty Organization, in a remarkably pointed speech for a monarch that urged Americans to resist the pull of isolationism.Charles used his remarks to a joint session of Congress — the first such address by a British monarch in more than three decades — to argue for preserving the alliance between the UK and US. The king appealed to the shared heritage between the two nations, sprinkling his remarks with references to culture, religion and principles behind America’s decision to declare independence 250 years ago
3) With the Fed widely expected to keep rates on hold at the April 28-29 FOMC meeting, the more interesting revelation will concern Jerome Powell’s future: Will he stay on or leave the Fed when his term as chair expires May 15? Regardless of his plans, we think Powell will offer only limited forward guidance on policy at his final news conference as chair, with Kevin Walsh on track to be confirmed as his successor.

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Trump Weighs Tehran Proposal; Kimmel Defends Comments about First Lady

Tue, 28 Apr 2026 09:32:10 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump convened his national security team to discuss Iran’s proposal to end a war now in its third month. Iran has signaled it may be willing to accept an interim deal to reopen the Strait of Hormuz in exchange for Washington ending its blockade of Iranian ports. The president has told his advisers he’s not satisfied with Iran’s latest suggestions, and his administration has previously said any deal must include agreements to curb Iran’s nuclear activities.
2) Jimmy Kimmel defended comments he made during a broadcast that prompted President Trump to call for him to be fired, citing the First Amendment right to free speech. Kimmel's comments, which included a parody of the White House Correspondents' Dinner, were called "hateful and violent" by Melania Trump, who urged ABC to "take a stand." Kimmel apologized for what Trump and others went through, but questioned whether his joke had any effect on the events that unfolded, and suggested the First Lady should have a conversation with her husband about hateful and violent rhetoric.
3) Technology stocks led global equity markets lower as concerns over investment in artificial intelligence resurfaced. Oil kept rising as the Strait of Hormuz remained shut, with Brent advancing for a seventh day to top $110 a barrel. The dollar gained against major peers apart from the yen after the Bank of Japan held interest rates in a split vote.

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DC Gala Attack Latest, US-Iran Talks at Stalemate

Mon, 27 Apr 2026 09:49:44 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The man accused of storming the White House Correspondents’ Dinner spent years quietly acquiring his arsenal, purchasing a shotgun from a Torrance, California, firearms dealer eight months before the attack and a semi-automatic pistol two years earlier, according to a law enforcement intelligence profile reviewed by Bloomberg. Cole Tomas Allen, 31, bought a Maverick 12-gauge pump-action shotgun from Turner’s Outdoorsman in Torrance in August 2025 and an Armscor semi-automatic pistol from CAP Tactical Firearms in Lawndale in October 2023, the profile shows.
2) Oil rose after efforts to resume peace talks over the Iran war stalled, leaving the Strait of Hormuz almost impassable and prolonging the supply disruption that has roiled global markets. Brent climbed as much as 3% to $108.50 a barrel and West Texas Intermediate advanced toward $97, before giving up some gains after Axios reported Tehran offered the US a fresh proposal to open the strait. Over the weekend, President Donald Trump canceled a planned trip by his top envoys to Pakistan, which is mediating talks, while Iran said it won’t negotiate if it’s being threatened.
3) To say the special relationship is going through a rough patch ahead of King Charles III’s visit would be an exercise in British understatement. The 77-year-old monarch will arrive in Washington on Monday with ties between the UK and the US at their lowest point since the Suez Crisis in the 1950s. While President Donald Trump often praises Charles as a “fantastic man,” he’s been heaping scorn on the country’s elected prime minister, mocking Keir Starmer as weak and unreliable for refusing to join America’s initial strikes on Iran

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Daybreak Weekend: Fed Preview & Tech Earnings, Bank of England Decision, Japan's Golden Week

Fri, 24 Apr 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – we preview the Federal Reserve's rate decision and big tech earnings
In the UK – we look ahead to the Bank of England's upcoming rate decision
In Asia – we discuss the Golden Week holiday in Japan

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Trump Pressures Iran on Blockade; Intel Shares Surge on Earnings

Fri, 24 Apr 2026 09:54:13 +0000

On today's podcast:

1) The US increased pressure on Iran with its naval blockade, as it seeks to get Tehran to agree to talks. The US naval operation has caused many Iran-linked vessels to turn around rather than go through the Hormuz strait, potentially affecting Iran's oil exports. Israel and Lebanon are set to extend a ceasefire for three weeks, according to President Donald Trump, who announced the deal in a social-media post after meeting Israeli and Lebanese envoys at the White House.

2) Intel delivered a sales forecast of $13.8 billion to $14.8 billion in the June quarter, exceeding Wall Street expectations of $13 billion. The company's upbeat outlook suggests that Chief Executive Officer Lip-Bu Tan is making progress on a challenging comeback plan, with Intel shares soaring 20% in extended trading. Intel's strong demand for processors used in AI systems is lifting demand for its flagship Xeon server processors, with Tan saying the company is "laser-focused" on increasing output from its factories to meet demand.

3) Spanish Prime Minister Pedro Sanchez said he’ll maintain cooperation with NATO allies and brushed off a report that US officials are considering suspending his country from the alliance for its stance on the Iran war. Sanchez told reporters that Spain "meets our obligations, we are a loyal partner" and that the country's position is "full cooperation with allies, but always within the framework of international law." The US is considering measures within the alliance in response to the stance of NATO allies, including Spain, on the Iran war, according to people familiar with the matter.

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Deadlock in US-Iran Peace Talks; Navy Secretary Fired

Thu, 23 Apr 2026 09:30:51 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran are locked in a battle for control of the Strait of Hormuz after failing to meet for a fresh round of peace talks, with both sides blocking the waterway to gain leverage during an extended ceasefire. The US is maintaining a naval blockade on ships going to and from Iran’s ports, which Iran calls a violation of the ceasefire, while Iran is keeping Hormuz closed to almost all other international traffic. The blockade and closure of the Strait of Hormuz have led to increased oil prices and concerns about supply shortages and a global inflation crisis
2) Navy Secretary John Phelan was fired after clashing with top leaders at the Pentagon, including over administration efforts to revive US shipbuilding. Phelan was pushed out after butting heads with Defense Secretary Pete Hegseth and Deputy Defense Secretary Stephen Feinberg over President Trump’s focus on a new US “Golden Fleet." Undersecretary Hung Cao will replace Phelan, according to Pentagon spokesman Sean Parnell, who said Phelan was stepping down “effective immediately."
3) Tesla anticipates billions of dollars in additional spending this year to support Elon Musk’s ambitions to transform the company into an AI and robotics company. Capital expenditures this year will exceed $25 billion, roughly three times last year’s outlay, to be put toward a dramatic expansion of factory operations and initiatives such as production of its Optimus humanoid robot. The investments will support production of key products including Cybercab, Semi and an updated version of its Megapack battery storage system, with Tesla remaining on track to start making these products.

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Iran Peace Deal in Limbo; Redistricting Passes in Virginia

Wed, 22 Apr 2026 09:45:00 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump indefinitely extended a ceasefire with Iran as peace talks remain on hold, walking back threats to resume fighting. The US-Israel alliance and Iran won’t immediately return to fighting, but there’s still no sign the vital Hormuz waterway will be reopened to oil and gas shipments soon. Iran says it will not reopen the Strait of Hormuz or restart peace talks until the US naval operation ends, and the US president blamed divisions among the Islamic Republic’s leaders for the need to extend the truce.
2) Virginia voters backed a Democratic plan to redraw the state's congressional districts, with the Yes vote leading 51.5% to 48.6%. The vote could net Democrats as many as four more US House seats in November's midterm elections, according to multiple projections. The outcome shifts Virginia's congressional delegation from being one of the most balanced to packing Republican voters together, favoring Democrats in most districts.
3) Kevin Warsh pledged to act independently if confirmed as the next Federal Reserve chair, rejecting concerns he would be a "sock puppet" for President Trump. Warsh called for changes to the way the US central bank makes its decisions, including a new framework for dealing with persistent inflation and a new way of communicating with the public.

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Instant Reaction: Trump Extends Iran Truce, Maintains Blockade as Talks Falter

Tue, 21 Apr 2026 21:52:39 +0000

President Donald Trump announced he was extending a ceasefire with Iran indefinitely a day before it was set to expire, even as plans for a fresh round of talks between the two countries fell apart.

In a Truth Social post, Trump said Tuesday he would maintain a blockade over ships coming to and from Iran in the Strait of Hormuz. He said Pakistan, which had mediated between the two sides, asked for the US to hold off on fresh strikes and he was extending the ceasefire until Iran submits a new proposal “and discussions are concluded, one way or the other.”

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

Wendy Benjaminson, Bloomberg News Senior Editor
Terry Haines, Pangaea Policy Founder
Adam Farrar, Bloomberg Economics Senior Geoeconomics Analyst
Ambassador James F. Jeffrey, Philip Solondz Distinguished Fellow at The Washington Institute

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Trump: No Truce Extension for Iran; Apple Announces New CEO

Tue, 21 Apr 2026 09:35:13 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump signaled he is unlikely to extend a two-week ceasefire with Iran that’s set to expire in two days. The president said the Strait of Hormuz would stay blockaded for now, and “I’m not opening it until a deal is signed.” Iranian officials have stopped short of explicitly ruling out participation in the talks in Pakistan, reinforcing expectations that both sides are continuing to explore a deal to end the war.
2) Apple announced longtime CEO Tim Cook will be replaced by John Ternus, with Ternus taking the job in September, and the company implying that he will bring continuity and help preserve Cook's legacy. Ternus is expected to bring a more decisive leadership style, moving faster and sharpening Apple's competitiveness in AI, and will oversee the launch of new products, including Apple's first foldable iPhone and a fresh start for Siri.
3) Amazon is investing an additional $5 billion in Anthropic and may inject $20 billion more over time. The deal was struck at a valuation of $350 billion, and Anthropic plans to spend more than $100 billion over the next 10 years on Amazon’s cloud technologies and chips. Amazon will provide Anthropic with chips to reach about 5 gigawatts of power, and the companies said more than 100,000 customers run Claude models on Amazon Web Services.

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US Seizes Iranian Ship; Japan Tsunami Warning

Mon, 20 Apr 2026 10:33:17 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump and Iranian officials offered disparate views on the next stage of the war, casting uncertainty over whether the two sides would meet for peace talks with a ceasefire set to expire in the coming days. Tensions in the war ratcheted up over the weekend as the US Navy fired upon and boarded an Iranian-flagged cargo ship in the Gulf of Oman, the first seizure in the US blockade of the Strait of Hormuz. That critical waterway for energy shipments remained closed early Monday after confusion over the weekend about whether tankers could transit the strait. Iran had initially said ships could pass before abruptly stopping traffic through the waterway less than 24 hours later. At a weekly press conference Monday, Iran’s Foreign Ministry spokesman Esmail Baghaei said there are "no plans for the next round of negotiations, and no decision has been made in this regard.”
2) Oil jumped, pushing US stocks and Treasuries lower after a turbulent weekend in the Middle East cast doubt on the prospects for peace talks ahead of a looming ceasefire deadline. Brent rose 5.4% above $95 a barrel as the US Navy carried out its first seizure of an Iranian vessel in the Strait of Hormuz. Futures for the S&P 500 fell 0.5%, with the benchmark poised to snap a five-day winning streak during which it notched a succession of highs. European stocks declined 1%, while the technology sector drove gains in Asia. The dollar was little changed. Bond yields rose sharply in Europe, whereas moves in Treasuries were more modest. Gold dropped below $4,800 an ounce.
3) A man in Louisiana killed eight children, including seven of his own, in a domestic shooting that unfolded across two homes in Shreveport early Sunday, leaving a community in shock and prompting a large police response. The gunman, identified as Shamar Elkins, 31, also critically wounded two women before being killed by officers after a pursuit. Police said the victims, ages 3 to 11, were found in a single residence, with at least one child attempting to escape from the roof. Authorities said the case appears to stem from a domestic dispute and remains under investigation. It is the deadliest U.S. mass shooting in more than two years.

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Daybreak Weekend: Tesla Earnings, European Headwinds, Japanese Inflation

Fri, 17 Apr 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – we preview Tesla earnings and Kevin Warsh's trip to Capitol Hill
In the UK – we look ahead to first quarter European earnings amidst broader headwinds
In Asia – how the war in Iran is impacting Japanese inflation.

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Trump Optimistic on Iran Deal; Gulf Leaders Say Deal '6 Months Away'

Fri, 17 Apr 2026 09:27:18 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) President Donald Trump claimed Iran has made key concessions in an ongoing negotiation to end the seven-week war, while a ceasefire between Israel and Hezbollah in Lebanon increased the prospect of a broader peace.Trump said it may not be necessary to renew an April 7 truce with the Islamic Republic before it expires next week, defying expectations that an extension will be needed to allow more time for diplomacy.

2) Some leaders in Arab states in the Persian Gulf and Europe expect it will take about six months to agree to a peace accord and that the ceasefire should be extended to cover that period, according to officials familiar with the matter, who asked not to be identified discussing private talks. That’s in part to allow for a reopening of the critical Strait of Hormuz waterway, they said.

3) Netflix Inc. gave a forecast for the second quarter that fell short of analysts’ expectations, sending the shares tumbling in extended trading.The streaming pioneer also announced that Chairman and co-founder Reed Hastings is stepping down from the board at the company’s annual meeting after 29 years to pursue philanthropy and personal interests.

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US & Iran Weigh Truce Extension; Stocks Extend Record Highs

Thu, 16 Apr 2026 09:33:36 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of renewed fighting despite an intensifying standoff over the Strait of Hormuz. With the initial truce due to expire next week, mediators are seeking technical talks to overcome the most contentious issues preventing a longer-term agreement, said the person, who asked not to be identified discussing sensitive matters. Those include reopening Hormuz and the future of Iran’s nuclear program. Tensions remain high over the strait, a critical waterway for oil and gas that’s been effectively shuttered since the start of the war almost seven weeks ago. The US has set up a naval blockade to cut off Iranian shipments, and said Wednesday that 10 vessels have been forced to turn around. Tehran is keeping the strait closed to most other traffic. The US hasn’t “formally requested an extension of the ceasefire,” White House Press Secretary Karoline Leavitt told reporters Wednesday. But she acknowledged “we remain very much engaged in these negotiations.”
2) Stocks set new highs as an upbeat forecast from Taiwan Semiconductor Manufacturing Co. added fuel to technology shares amid rising optimism that the US and Iran are seeking more time to negotiate a peace deal. Futures for the S&P 500 rose 0.2% after the benchmark closed above the 7,000 mark for the first time. Nasdaq 100 contracts rose 0.4% as TSMC’s raised revenue outlook highlighted the resilience of AI chip demand. Adding to the upbeat mood in tech, Elon Musk’s lieutenants have sought quotes and delivery times for chipmaking equipment for his envisioned Terafab. Meanwhile, Brent fluctuated around $95 a barrel as the US and Iran considered a two-week ceasefire extension. Global bonds rose, led by gains in Europe where central bank policymakers signaled they’re in no rush to raise interest rates. The dollar was little changed while gold rose toward $4,825 an ounce. Wall Street veteran Ed Yardeni says investors are looking past the war in the Middle East and focusing on market fundamentals.
3) Live Nation Entertainment Inc.’s loss in a landmark antitrust trial follows years of regulatory scrutiny of its dominance in the live events business and sets the stage for a possible breakup of the largest US concert promoter and ticket seller. After a six-week trial in Manhattan, which featured testimony from high-profile figures in the music industry and Live Nation Chief Executive Officer Michael Rapino, a federal jury on Wednesday ruled the company illegally monopolized the live events industry and overcharged fans for tickets to music performances. The verdict marked a major win for a coalition of 33 states and Washington DC that pursued the case despite the US Justice Department’s decision to pull out after the first week of the trial, with a surprise settlement allowing Live Nation to keep its Ticketmaster unit. But jurors concluded the company illegally monopolized ticketing and tied Live Nation venues to its promotion business, leading concert goers to overpay by $1.72 per ticket.

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Trump Teases End to Iran War; 'Historic' Israel-Lebanon Talks

Wed, 15 Apr 2026 09:33:50 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump indicated he may be preparing to wind down the war with Iran, boosting market optimism and restoring some stability to global energy prices. Peace talks with the Islamic Republic might restart “over the next two days,” the New York Post cited the president as saying. In a separate interview with ABC News, he said extending a two-week ceasefire that was clinched last week after nearly six weeks of fighting may not be necessary, hinting at significant near-term progress without elaborating. There are signs Tehran is also trying to avoid escalation, with authorities considering a pause in shipments through the strategic Strait of Hormuz to avoid testing a US blockade and jeopardizing fresh negotiations. The shift in the narrative from Washington — from announcing a total blockade of Hormuz to expectations of a possible breakthrough — has left many questions unanswered, including the fate of Iran’s enriched uranium.
2) Former Treasury Secretary and ex-Federal Reserve Chair Janet Yellen said she still sees prospects for a US interest-rate cut later this year, though the unfolding oil shock caused by the war in Iran clouds the outlook. “This is really a broad supply shock,” spreading from pump prices to LNG, fertilizers, food, shipping costs, and semiconductors, Yellen said at the HSBC Global Investment Summit in Hong Kong on Wednesday. While the need to raise rates can’t be ruled out, stable long-run inflation expectations suggest that scenario remains unlikely for now, Yellen said. Minutes of the Fed’s March 17-18 meeting, released last Wednesday in Washington, showed a growing number of officials worried the Iran war could further stoke inflation and wanted to make clear that the central bank may have to consider raising interest rates. In projections released after that meeting, policymakers had signaled an expectation for one interest-rate cut in 2026, unchanged from their December forecasts.
3) President Trump’s tariffs may be restored by July to the levels in place before the Supreme Court struck down many of his levies, Treasury Secretary Scott Bessent said. The Treasury secretary said because the Section 301 tariff authority has already been tested in the courts, business leaders are able to start planning and making decisions around capital expenditures. Trump is seeking to restore his tariff wall using different authorities after the high court ruled that his use of emergency powers to impose those earlier duties was unconstitutional. After the Supreme Court struck down many of his global tariffs, Trump imposed a temporary 10% tariff that covers many imports. That levy is set to expire on July 24.

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US & Iran Weigh More Talks; China Says World Order ‘Crumbling’

Tue, 14 Apr 2026 09:43:49 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran are weighing further negotiations to extend a two-week ceasefire as President Trump presses ahead with a naval blockade to curb the Islamic Republic’s oil exports, a step aimed at extracting concessions in peace talks. The objective is to hold fresh discussions before the truce announced April 7 expires next week, according to people familiar with the matter. “We’ve been called this morning by the right people, the appropriate people, and they want to work a deal,” Trump said at the White House on Monday, hours after the US Navy began implementing the blockade of the strategic Strait of Hormuz to cut off vessels transiting to and from Iranian ports and coastal areas. The latest push shows the two sides haven’t given up on diplomacy after their first round of direct negotiations in Pakistan failed to produce an agreement. The war, which began when the US and Israel launched a bombing campaign against Iran on Feb. 28, has left thousands dead, damaged infrastructure and disrupted energy flows beyond the Persian Gulf, rattling markets and triggering a global price spike.
2) Chinese President Xi Jinping lamented a world in “disarray,” using some of his strongest language yet to describe a collapse of the Western-led international order as he vowed to play a constructive role in the Middle East. “The international order is crumbling into disarray,” Xi told Spanish Prime Minister Pedro Sánchez on Tuesday in Beijing, using a Chinese phrase indicating not only chaos but also moral decay. The comments, part of Xi’s first public statements on the Iran war since the conflict began more than a month ago, followed a flurry of visits by world leaders to Beijing and fresh economic data on Tuesday showing the war took a sharp toll on Chinese exports in March. Xi has framed his country as a stabilizing force in a world thrown into turmoil by President Trump’s erratic approach to trade and foreign policy. In an earlier meeting with Abu Dhabi Crown Prince Sheikh Khaled bin Mohammed, Xi reiterated that China would continue to play a “constructive role” in the Middle East.
3) Democrat Eric Swalwell and Republican Tony Gonzales said they plan on leaving their congressional seats in the wake of allegations of sexual misconduct. “I am deeply sorry to my family, staff, and constituents for mistakes in judgment I’ve made in my past,” Swalwell said in a post on X on Monday announcing his intent to resign. He vowed to “fight the serious, false allegations made against me,” but also said he “must take responsibility and ownership for the mistakes I did make.” Shortly after, Republican Representative Tony Gonzales of Texas said in a separate said in a separate social media statement that he planned on filing his retirement from office “when Congress returns tomorrow.” Gonzales faced calls to resign after allegations that he had an affair with a staffer who later died by suicide. A growing number of lawmakers had called for the resignation of both men, arguing the allegations against them tarnished their ability to remain in Congress, with some calling for their expulsion. The resignations leave the Republicans’ slim majority in the US House of Representatives unchanged.

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Trump Orders Hormuz Blockade; Hungary Rejects Orban in Seismic Vote

Mon, 13 Apr 2026 09:40:56 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the US will begin a full naval blockade of the strategic Strait of Hormuz and threatened to retaliate in the event of Iranian resistance, escalating a standoff that has already brought the waterway to a near standstill and disrupted global energy supplies. The president’s announcement came hours after the US and Iran failed to reach a deal in direct talks in Pakistan, jeopardizing hopes of turning a fragile ceasefire into a lasting end to a war that has claimed thousands of lives. The negotiations collapsed because of differences over the nuclear issue, Trump said in a Truth Social posting on Sunday. The US military said Sunday that it would begin the blockade at 10 am New York time on Monday.
2) Peter Magyar, Hungary’s next prime minister, outlined sweeping changes after ending Viktor Orban’s 16-year rule in a landslide election victory that will redefine the country’s ties with the European Union, Russia and the US administration of President Trump. Magyar, a 45-year-old former insider of Orban’s nationalists, said the overwhelming victory for his Tisza party — translating into a two-thirds parliamentary majority — gave him a mandate to dismantle Orban’s increasingly authoritarian system and bring Hungary back into the European fold. Orban conceded the defeat, telling supporters that the result was “painful” for him. Magyar, whose conservative-leaning party has sought to unite disgruntled voters, called on the country’s president, top justices and chief prosecutor to all hand in their resignations during his victory speech in front of a cheering crowd in Budapest on Sunday. Magyar said they had put their political allegiance to Orban’s authoritarian system above their office’s responsibilities.
3) US Representative Eric Swalwell suspended his bid for governor of California after a series of sexual assault allegations threw his campaign into turmoil and prompted backers to flee. “I am suspending my campaign for governor,” Swalwell said in a post on social media on Sunday evening. He apologized to his supporters, adding “I will fight the serious, false allegations that have been made — but that’s my fight, not a campaign’s.” Swalwell’s exit upends a competitive and crowded race to lead the most populous US state. The 45-year-old, seven-term congressman from the San Fransisco Bay area, had been polling among the top Democrats to succeed Gavin Newsom, who is barred from seeking re-election because of term limits.

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Daybreak Weekend: Neflix Earnings, Hungary Election, Spain Prime Minister Visits China

Fri, 10 Apr 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Netflix and a focus on three bank stocks for the week ahead.
In the UK – a look ahead to the next election in Hungary.
In Asia – a look ahead to Spain Prime Minister Pedro Sanchez's trip to China.

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Trump Demands Hormuz Reopening; Israel Agrees to Lebanon Talks

Fri, 10 Apr 2026 09:31:39 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump demanded Iran reopen the Strait of Hormuz, raising pressure on Tehran before talks to turn a fragile ceasefire into lasting peace. The truce remains shaky, with Kuwait reporting large-scale drone attacks on “vital” facilities overnight into Friday and accusing Iran and its proxy groups of violating the ceasefire announced by Washington and Tehran two days earlier. The war has already killed thousands of people and damaged energy infrastructure across the oil-rich Persian Gulf. US and Iranian delegations are set to meet in Pakistan on Saturday, with shipping through Hormuz — which handled about a fifth of the world’s oil and liquefied natural gas before the war — a central sticking point.
2) Israeli Prime Minister Benjamin Netanyahu said he agreed to hold direct talks with Lebanon about the conflict, with the focus on disarming Hezbollah. Trump called the Israeli leader on Wednesday and asked him to scale back strikes to ensure the success of negotiations with Iran, NBC reported, citing an unidentified senior administration official. Iranian President Masoud Pezeshkian said Israel’s strikes in Lebanon are a “clear violation” of the ceasefire and “will render negotiations meaningless.”
3) Oil rose a second day after Saudi Arabia said its production capacity has been reduced due to attacks on energy infrastructure, but futures remain on track for their biggest weekly loss since June. Saudi Arabia’s press agency said the nation’s production capacity has been cut by around 600,000 barrels a day due to attacks on energy infrastructure. That figure accounts for roughly 10% of the kingdom’s normal crude exports, according to Bloomberg calculations. Meanwhile, strikes on a pumping station serving the East-West pipeline — which Saudi Arabia has been using to export crude via the Red Sea — crimped daily throughput by 700,000 barrels this week, according to the report. Kuwait also said it was intercepting drone attacks and that some vital facilities were targeted.

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Iran Says Ceasefire Violated, Trump Lashes Out at NATO

Thu, 09 Apr 2026 09:30:47 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump vowed to keep US troops in the Persian Gulf ahead of talks with Iran that are planned to firm up a fragile truce, while Tehran warned there may be mines in a strategic waterway Washington wants reopened. Both sides accused each other of violating the truce that was announced Tuesday after six weeks of fighting, with a disagreement over whether the ceasefire extends to Lebanon emerging as a key flashpoint that could unravel the accord. Despite the escalating rhetoric, there were signs the ceasefire was largely holding, with a notable decline in attacks across Arab states in the Persian Gulf. Vice President JD Vance said Washington never suggested that fighting between Israel and Tehran-aligned Hezbollah in Lebanon would cease. But Iran’s Parliament Speaker Mohammad-Bagher Ghalibaf said continued attacks on Hezbollah — along with what Tehran described as an Israeli drone strike on its territory overnight — amounted to clear violations of the agreement.
2) President Trump lashed out at NATO after meeting with the military alliance’s secretary general, Mark Rutte, making clear that his anger over the organization’s stance on the Iran war remained acute. “NATO WASN’T THERE WHEN WE NEEDED THEM, AND THEY WON’T BE THERE IF WE NEED THEM AGAIN. REMEMBER GREENLAND, THAT BIG, POORLY RUN, PIECE OF ICE!!!” the president wrote in a post on his Truth Social platform on Wednesday evening. Rutte, a former Dutch prime minister, was in the US on a mission to temper Trump’s public displeasure after NATO allies refused to help him protect commercial ships in the Strait of Hormuz or let the US use some of their bases to attack Iran during the war that began on Feb. 28. Trump has also revived his grievance that NATO countries wouldn’t give him Greenland, a Danish territory.
3) A growing number of Federal Reserve officials worried the Iran war could further stoke inflation and wanted to make clear following their March meeting that the central bank may have to consider raising interest rates. Minutes of the Federal Open Market Committee’s March 17-18 meeting, released Wednesday in Washington, showed policymakers wrestled with starkly differing scenarios for the US economy following the outbreak of the Iran war, and the policy reactions that might follow. Most officials worried a protracted war could hurt the labor market and warrant lower interest rates. At the same time, many policymakers highlighted the risk to inflation that might ultimately warrant rate increases.

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US & Iran Two-Week Ceasefire; Oil and Gas Prices Plunge

Wed, 08 Apr 2026 09:45:17 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz, a last-ditch deal that averted President Trump’s threatened escalation of the war. Trump announced the agreement on social media Tuesday, hours after mediator Pakistan implored him to back off his deadline to unleash massive devastation on Iran if it didn’t meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week conflict, which has killed thousands of people and sparked a global energy crisis.
2) Oil and gas prices both plummeted after the US and Iran's announced ceasefire. Brent fell as much as 16% before trading around $95 a barrel, while European natural gas futures posted their biggest decline in more than two years, shedding as much as 20%. Prices of refined fuels such as diesel and jet fuel — which had been the biggest threats to global inflation — also tumbled. Much will now depend on how quickly transit through Hormuz can resume. It’s the route for about a fifth of global oil and liquefied natural gas supplies, and the near-halt of traffic has pushed prices for real-world crude to a record. Faced with an unprecedented disruption to flows, the world is rapidly running down supply buffers to offset the loss.
3) Republican Clay Fuller is projected to win a US House seat in a deeply conservative Georgia district even as Democratic gains serve as an early warning for Republican lawmakers navigating President Trump’s threats of a widening war in Iran and voters’ growing economic unease. With 83% of the votes counted, Fuller had 57% compared to 43% for the Democratic candidate, Shawn Harris, according to Decision Desk HQ. That would keep the seat vacated by conservative firebrand Marjorie Taylor Greene in Republican hands, but by a narrower margin than in recent elections. Trump had carried the district by 37 percentage points in 2024.

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Special Coverage: US and Iran Agree to Ceasefire Hours Before Trump Deadline

Wed, 08 Apr 2026 01:27:30 +0000

The US and Iran agreed to a two-week ceasefire that’s expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz.

President Donald Trump announced the agreement Tuesday on social media hours after Pakistan, a mediator in talks, implored the US leader to back off his deadline to unleash massive devastation on Iran if it did not meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week-old war, which has killed thousands of people and sparked a global energy crisis.
Trump said he had agreed “to suspend the bombing and attack of Iran for a period of two weeks” as long as Iran agrees to “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”

For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with:

Bloomberg State Department and Foreign Policy Reporter Eric Martin
Bloomberg This Weekend co-host Christina Ruffini
Bloomberg White House and Washington correspondent Jeff Mason
Terry Haines, founder of Pangea Policy
Daniel Byman, Director of the Warfare, Irregular Threats, and Terrorism Program at the Center

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Trump's 8pm Iran Ultimatum, Astronauts Moon Mission Return

Tue, 07 Apr 2026 09:32:18 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump’s latest deadline for Iran to agree to a deal is just hours away, and investors are once again finding themselves forced to prepare for a range of possible outcomes. Trump insisted that freedom of navigation through the Strait of Hormuz be part of any deal to end the Middle East war and escalated threats to obliterate key Iranian infrastructure if his terms aren’t met before a Tuesday deadline. Trump said Monday that talks with Iran are “going well” and that reopening the strait is “a very big priority.” The president in recent weeks has said an agreement on the strait wasn’t among his core prerequisites for ending the conflict. Trump laid bare the consequences Iran would face if it doesn’t reach a deal by his Tuesday 8 p.m. Eastern Time cut-off, saying the US military could destroy “every bridge in Iran by 12 o’clock tomorrow night.” Power plants would be rendered “burning, exploding and never to be used again,” he said. Attacking civilian infrastructure is barred by the Geneva Conventions, but Trump said he was “not at all” concerned about committing war crimes.
2) NASA’s four Artemis astronauts swung behind the moon and are headed home, in a journey that shattered space travel distance records and brought people the closest they’ve been to the lunar surface in more than 50 years. At their nearest distance to the moon, the Artemis II’s Lockheed Martin Corp.-built Orion capsule came within an estimated 4,067 miles of the lunar surface, according to calculations by NASA. From the crew’s point of view, the moon would have appeared roughly the size of a basketball in someone’s outstretched hand. The spacecraft reached its maximum distance from Earth minutes later, reaching 252,756 miles, NASA Administrator Jared Isaacman said in a post on X. The astronauts earlier broke the distance record for space travel. Shortly before 2 p.m. New York time on Monday, they surpassed the distance the Apollo 13 crew traveled in 1970 of 248,655 miles (400,170 kilometers) from Earth, NASA said.
3) The University of Michigan Wolverines basketball team its second national title in men's basketball and first since 1989, beating the UConn Huskies by a score of 69-63. Michigan shot just two three-pointers all game, but relied on defense, holding UConn to under 31% shooting. Final Four Most Outstanding Player Elliot Cadeau led with 19 points. UConn’s bid for a third title in four seasons fell short, despite 22 offensive rebounds in the championship match.

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Trump Sets New Iran Ultimatum; Saudis Raise Asia Oil to Record Premium

Mon, 06 Apr 2026 09:33:23 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) President Trump issued increasingly aggressive threats to destroy Iran’s power plants starting Tuesday and bring “Hell” to the country following the rescue of a US airman more than a day after his fighter jet was shot down. Iran rejected Trump’s latest ultimatum to reopen the Strait of Hormuz, saying it would only fully resume operations when war damage is compensated. Tehran continued striking energy targets in Gulf neighbors, including Kuwait’s oil headquarters. Trump, in renewing his threats to target Iran’s civilian infrastructure, used an expletive in a social media post and told Axios he would be “blowing up everything over there” if Iran doesn’t make a deal. He said he plans a news conference at 1 p.m. on Monday and posted about a Tuesday 8 p.m. deadline, without offering details.

2) Japanese Prime Minister Sanae Takaichi said she is looking to hold talks with Iran’s leader and possibly also a separate call with President Trump, as the clock ticks on the US president’s latest threat to bomb key Iranian infrastructure. “We are currently making preparations for leadership level talks,” Japan’s Takaichi said of talks with Iran during a parliamentary session Monday. “We will continue to do everything in our power to find an off-ramp to this situation and return to peace.” Takaichi’s comments came with Trump warning Tehran that the US will bomb Iranian power plants unless it opens up the Strait of Hormuz, a choke point through which Japan secures over 90% of its oil. Takaichi said that Japan would do what it can ahead of the Tuesday ultimatum set by Trump, suggesting that she was also seeking a phone call with Trump, though nothing has been finalized yet. Whether Japan can help defuse tensions or even play a mediation role remains unclear, but the nation has a key interest in maintaining a working relationship with a country that currently controls passage through the Strait of Hormuz.

3) Saudi Arabia has raised the price of its main oil grade to Asia to a record high premium, as a widening conflict in the Persian Gulf and Iran’s near-closure of the Strait of Hormuz convulse energy markets. State oil producer Saudi Aramco will increase flagship Arab Light crude prices for May sales to a premium of $19.50 over regional benchmarks for refiners in Asia, according to a price list seen by Bloomberg. Still, the level is less than the $40 a barrel premium anticipated by traders and refiners in a Bloomberg survey. The gap with market expectations is in part because of a volatile market, and as prices of some Middle Eastern grades dipped in the last week of March, according to traders. Aramco’s oil is also priced for loading in the Persian Gulf port of Ras Tanura, though all of the company’s exports are currently being shipped from the port of Yanbu on the Red Sea coast. Buyers typically incur additional costs to collect those barrels.

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Daybreak Weekend: Delta Earnings, UK Tax Season, China Data

Fri, 03 Apr 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings for Delta Airlines and a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the new tax year in the UK.
In Asia – a look ahead to China CPI and PPI data.

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Daybreak Holiday: Bank Earnings, Taxes and Candy

Thu, 02 Apr 2026 21:00:00 +0000

On this special Good Friday Holiday edition of Bloomberg Daybreak, host John Tucker discusses:

Big bank earnings with Bloomberg Intelligence Senior US Banks Analyst Herman Chan and Bloomberg Intelligence Financials Analyst Neil Sipes
A year after Elon Musk set out to slash jobs at the IRS, the agency is struggling to meet demands amid a busy filing season. For more, we hear from Bloomberg Law Reporter Erin Slowey.
Well you may be seeing a little less of the candy this Easter.. That's because sales are projected to drop.. For details, we speak with Bloomberg's Diana Rosero-Pena.

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Trump Wants Iran 'Back To The Stone Age,' Moon Mission Liftoff

Thu, 02 Apr 2026 09:37:02 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump finally tried to sell the American public on his Iran war. But his primetime address five weeks into the messy conflict instead underscored the US president’s growing defensive posture, as pressure mounts on global shipping routes, gas prices and his political party. Trump said the US operation was close to completion, in an attempt to reassure a skeptical public. Still, the speech lacked new announcements — most notably a precise timeline for an exit. He also pledged more aggressive actions in the next two to three weeks, including potential strikes on electrical plants. The president also did not present any new arguments or explanations for the war, instead reiterating his desire to destroy Iran’s military and nuclear capabilities. Likewise, there was no concrete plan for reopening the Strait of Hormuz, a vital energy thoroughfare. While he said diplomatic discussions continue, he shared no breakthroughs on ending the conflict. Treasury yields climbed and the dollar pushed higher as Trump’s remarks triggered gains in crude oil. US equity futures retreated.
2) European allies are skeptical President Trump will actually pull the US out of NATO. But they still fear the president’s renewed threats to do so are eroding the military alliance at a precarious moment. Trump on Wednesday capped mounting US critiques of the North Atlantic Treaty Organization with a suggestion that he was strongly considering leaving the alliance. His comments came after Secretary of State Marco Rubio, typically seen as Washington’s NATO defender, chided the alliance for its “very disappointing” response to the war in Iran. While the rhetoric isn’t particularly novel — Trump and his cohort have long bashed NATO allies as free-loaders who don’t help the US — the president’s latest ire is posing a greater risk to the alliance as his war in Iran deepens and he looks for people to blame, according to officials familiar with discussions among allies.
3) NASA’s crew of astronauts launched to space and reached a stable orbit, kicking off a landmark journey that will take them closer to the lunar surface than anyone has been in more than 50 years. The initial phase of the 10-day mission to lap the moon, a multibillion-dollar feat about a decade in the making, clears a major hurdle for NASA and its legacy aerospace contractors as the agency works to establish a base on the lunar surface and ultimately venture to Mars. The crew’s Lockheed Martin Corp.-built Orion capsule, stacked on the shoulders of Boeing Co.’s Space Launch System rocket, thundered off the launchpad at 6:35 p.m. local time at Kennedy Space Center in Florida. The rocket system, taller than the Statue of Liberty, reached speeds of around 17,500 miles per hour as it hurtled to space. It blazed a trail of fire and smoke as it climbed and eventually shed its spent side boosters, which provided extra thrust.

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Trump: War To End Within 2-3 Weeks; Birthright Citizenship Hearing

Wed, 01 Apr 2026 09:53:25 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz. Trump indicated that it was possible that Iran could still reach a deal with the US during that timeframe but said an agreement with Tehran was not necessary for the war to end. Trump added the US would leave when Iran was not able to obtain nuclear weapons and claimed the regime now in power was better than the leadership before the war.
2) Oil tumbled after President Trump again signaled a potential end to the Iran war. Brent crude fell below $100 a barrel, while West Texas Intermediate was around $97. Trump told reporters that the US could leave Iran within two to three weeks, and indicated an agreement with Tehran may be reached but wasn’t necessary for the conflict to end. The president will give an address to the nation at 9 p.m. Eastern time on Wednesday to provide an update, White House Press Secretary Karoline Leavitt said. Trump has regularly vacillated between saying an Iran deal is imminent and warning he’s prepared to ramp up military operations.
3) The Supreme Court is set to hear arguments on President Trump's assertion that the 14th Amendment's citizenship provision was designed to cover only the children of freed slaves, amid his executive order to block citizenship for children of undocumented immigrants and temporary visitors. Trump will attend the oral arguments at 10am ET on Wednesday, according to his official schedule from the White House. Critics say Trump is seeking to rewrite the 14th Amendment, which promises citizenship to "all persons" born in the US and "subject to the jurisdiction thereof", a provision many scholars and public officials say is straightforward in its breadth.

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Trump Reportedly Weighs War Exit; US Fuel Prices Soar

Tue, 31 Mar 2026 09:33:16 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran hit a fully laden Kuwaiti oil tanker off Dubai in a drone attack, a sign it’s willing to escalate strikes on energy sites and infrastructure as the war drags on. Despite the attack, crude prices were steady in early trading, with US benchmark prices trading at about a $102 a barrel. That was partly because of a report in the Wall Street Journal saying US President Donald Trump is willing to wind down hostilities and pressure Tehran diplomatically to reopen the Strait of Hormuz.
2) US gasoline climbed above an average of $4 a gallon for the first time since August 2022, one of the most visible measures of consumer pain in the world’s largest economy resulting from the war in Iran. The nationwide average retail price for regular unleaded gas rose to $4.018 a gallon on Monday, according to the American Automobile Association. Prices have surged by more than $1 since the start of the war, up from $2.98 on the day before the US and Israel launched attacks against Tehran.
3) Unilever Plc said talks to sell most of its food business to McCormick & Co. are advanced and a final deal could be announced later on Tuesday in a historic move that will transform both companies. The Anglo-Dutch maker of Hellmann’s mayonnaise will offload most of its food unit, excluding some parts like its operations in India, for $15.7 billion cash upfront and the rest in McCormick equity, according to a statement Tuesday.

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No End of War in Sight; Oil Hits $116 a Barrel

Mon, 30 Mar 2026 09:29:16 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) US and Israeli forces pressed ahead with attacks on Iran while the Islamic Republic launched missiles across the Persian Gulf, sending oil prices higher once again amid no sign of an imminent peace deal. The Israeli military said on Monday that it’s carrying out airstrikes on Iranian military targets a day after attacks resulted in power outages in the capital, Tehran, and nearby areas. The United Arab Emirates issued multiple alerts overnight and Saudi Arabia and Kuwait reported strikes.
2) Treasuries firmed, supporting US stocks, as fears that the war in the Middle East will trigger a sharp economic slowdown prompted traders to dial back bets on higher interest rates. Brent hit $116 a barrel.
3) The Trump administration is planning to let a Russian oil tanker dock in Cuba, alleviating an energy crisis triggered when the US prohibited deliveries to the Communist regime.The shipment of crude is expected to be allowed to arrive in coming days, according to two people familiar with the matter, who asked not to be identified without permission to speak publicly.

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Evolving Money: Diversifying with Digital Assets (Sponsored Content)

Sun, 29 Mar 2026 20:00:00 +0000

If you want to build a diversified portfolio, you need to assemble assets that respond to different return drivers. Digital assets can play a central role. For starters, cryptocurrencies like bitcoin behave differently than traditional equities or commodities, giving portfolios exposure to unique sources of risk and return. And within the crypto universe, you can find coins, protocols, and equities that all behave differently under different market conditions. By investing in a wide range of digital assets you can potentially both mitigate risk and improve returns.

This episode is sponsored by Coinbase.

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Daybreak Weekend: US Jobs, South Africa Conference, South Korea Shareholder Meetings

Fri, 27 Mar 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the March jobs report in the U.S and a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the upcoming South Africa Investment Conference.
In Asia – a look ahead to South Korea shareholder meetings.

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Senate Votes to Fund TSA; Trump Delays Iran Deadline

Fri, 27 Mar 2026 09:34:53 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The Senate passed legislation early Friday to fund most of the Department of Homeland Security, forging a path to end a lengthy partial government shutdown that snarled airport security and threatened to ripple through an economy already roiled by the Iran war. The bill, which must still pass the House and be signed by President Donald Trump, marks an abrupt reversal for Republicans, who had blocked similar proposals backed by Democrats to partially fund the department for weeks. The legislation passed the Senate by voice vote.
2) President Donald Trump again pushed back his deadline for Iran to strike a deal with the US or face more attacks, saying talks with the country were going “very well.” Trump said he would extend by 10 days his pledge to refrain from attacks on Iranian energy sites, his second extension since Saturday’s threat to eviscerate Iran’s power plants in the absence of a deal.
3) Anthropic PBC is considering going public as soon as in October, according to people familiar with the matter, as the artificial intelligence company races with rival OpenAI Inc. to hold an initial public offering.The maker of the popular Claude chatbot has had early discussions with Wall Street banks about taking leading roles on a potential listing, the people said, asking not to be identified as the information isn’t public.

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US, Iran Argue Over Terms; Airline Fares Surge in Europe & Asia

Thu, 26 Mar 2026 09:35:53 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The White House has insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets. President Trump claimed Iran was desperate to make a deal to end the nearly month-long hostilities. “They want to make a deal so badly, but they’re afraid to say it,” Trump told congressional Republicans Wednesday night in Washington. The comments ran counter to Iran’s earlier statements through state-run media publicly rejecting Trump’s push for talks. Tehran is also seeking its own guarantees, including that the US and Israel won’t resume their attacks, reparations for war damages and recognition of its authority over the Strait of Hormuz, according to state-owned Press TV.
2) Ticket prices on major routes connecting Asia and Europe have surged up to 560% this month and are likely to stay elevated through the summer and into fall as war-related disruptions ripple through the Persian Gulf, the world’s busiest transit corridor, according to Alton Aviation Consultancy. For June travel, fares across seven popular Asia-Pacific to Europe routes are averaging about 70% higher than a year ago, based on Alton’s analysis of data from analytics firm Cirium and online travel agencies. A Sydney-to-London ticket now averages more than $1,500, roughly double last year’s price. Fares include direct and one-stop flights, as well as transits through Gulf airports. Prices are expected to remain about 30% above last year’s levels even as far out as October.
3) Officials in Germany have started mapping vulnerabilities in US supply chains to identify points where Germany and its European Union partners could apply pressure, according to people familiar with the effort. Their goal is to create a consensus among EU nations on how they can use their leverage, if and when they get drawn into another dispute with the White House. The initial findings suggest ways to target the massive US tech firms with close ties to the White House, the officials said. Other options could aim for the AI investment boom that has helped to drive US stocks to record highs this year or push up drug prices for American voters, an issue the president has already shown he’s sensitive to.

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Trump's 15-Point Peace Plan; Flight Prices Set to Rise

Wed, 25 Mar 2026 09:42:21 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran kept up missiles and drone attacks on Arab Gulf states and Israel overnight, after the US floated a proposal to end a war that’s wreaked havoc across the Middle East and in global markets. Saudi Arabia intercepted a drone in the east of the country, while a strike targeting Kuwait set ablaze a fuel tank at its main airport. Iranian media said more missiles were fired at Israel. There were no reports of casualties in any of the incidents. The US sent Iran a 15-point plan, which Pakistan delivered, according to people familiar with the matter, highlighting the urgency within the Trump administration to resolve the conflict it started as the economic toll mounts. The details remain unclear, though President Trump has publicly signaled that any peace agreement would have to include a prohibition on Iran ever obtaining a nuclear weapon or enriching radioactive material for civilian purposes. Iran has yet to comment on the proposal. Trump, when he first announced talks with the Islamic Republic on Monday, implied he hoped to get an agreement by Friday. That may be difficult given the wide gaps that remain between the sides, with several Iranian officials saying the country isn’t ready to negotiate and that Trump is merely trying to calm markets and push down oil prices.
2) A system designed to help air-traffic controllers monitor vehicles and airplanes on the ground failed to alert personnel at LaGuardia Airport before an Air Canada Express jet collided with a fire truck late Sunday evening, killing the two pilots. An analysis found the system, known as ASDE-X, issued no alert to the two controllers in the tower due to “the close proximity of vehicles merging and unmerging near the runway,” US National Transportation Safety Board Chair Jennifer Homendy said during a press conference on Tuesday. The Port Authority of New York and New Jersey fire truck involved in the crash also wasn’t equipped with a transponder that would have helped pinpoint its location, Homendy said. The Federal Aviation Administration last year encouraged airports with ASDE-X to voluntarily equip their vehicles with special transmitters to “improve airfield safety.”
3) Senate Democrats have rejected the latest offer from President Trump and Republicans to fund most of the Department of Homeland Security and end a lengthy shutdown that has snarled airport security checkpoints and threatened to ripple through an economy already roiled by the Iran war. The Republican plan does not include any of the policy proposals Democrats have insisted on in their fight to overhaul Immigration and Customs Enforcement tactics following the killings of two protesters in Minneapolis by agents earlier this year. Senate Democratic Leader Chuck Schumer told reporters his party would send a counter-offer to Republicans, which would include changes to immigration enforcement.

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Saudi, UAE Could Reportedly Join Iran War; Senate Inches Toward DHS Deal

Tue, 24 Mar 2026 09:29:35 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Fighting between Iran and the US-Israeli alliance continued unabated, even as President Trump claimed talks are under way to end the conflict. Iran launched overnight missile and drone attacks on the Israeli cities of Eilat, Dimona and Tel Aviv, as well as US bases in the Middle East. Saudi Arabia said it intercepted a drone in its eastern region, and Kuwait said some power lines were put out of service after an Iranian attack. Sirens sounded in Bahrain. In Iran, the Fars news agency reported US-Israeli attacks that damaged a gas pressure-regulation plant and an administrative building in the central city of Isfahan. There was also a strike on a pipeline supplying gas to the Khorramshahr Combined Cycle Power Plant in southwestern Iran, according to Fars. The attacks continued after Trump postponed strikes on Iran’s energy infrastructure, citing “productive conversations” with Tehran. The US president’s claims of behind-the-scenes diplomacy were widely denied by Iranian officials, causing confusion over the participants in the talks and the parameters of a potential deal.
2) Saudi Arabia and the United Arab Emirates have taken steps toward joining the Iran war, the Wall Street Journal reported, potentially signaling an escalation of the fighting. Saudi Arabia agreed to give the US military access to King Fahd Air Base, the WSJ reported, citing people familiar with the matter, an apparent reversal after saying its bases couldn’t be used to attack its longtime rival. The newspaper also cited people familiar as saying the United Arab Emirates closed an Iranian-owned hospital and club — undercutting a key source of support for Tehran.
3) Senators in both parties expressed rising optimism late Monday about reaching an agreement to end the five-week partial shutdown of the Department of Homeland Security, which has increasingly snarled air travel across the United States. After Republican senators met at the White House with President Trump on Monday, Senator Katie Britt of Alabama, a key negotiator, said she thought they had a solution to the impasse. On the floor she could be seen talking with members of both parties including Chuck Schumer, the Democrat leader. Schumer said “both sides are working in a serious way” as he left the Capitol after a day that began when Trump soured the talks with demands that Republicans tie passage of the partisan SAVE America Act voting legislation to Homeland Security funding.

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Instant Reaction: Stocks Surge After Trump Statement

Mon, 23 Mar 2026 12:10:00 +0000

Stocks and bonds rebounded after President Donald Trump said the US and Iran had “very good” conversations about an end to the conflict in the Middle East.
President rump said strikes against Iranian energy infrastructure and power plants would be postponed for five days following the start of talks with Iran to end the war.
For details on this development, Tom Keene and Paul Sweeney speak with Bloomberg Middle East Reporter Joumanna Bercetche, Silvercrest Asset Management Head of Investment Policy & Strategy Robert Teeter, and Veda Partners Co-Founder Henrietta Treyz.

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Trump's Iran Deadline Nears; Sharp Selloff in Markets

Mon, 23 Mar 2026 09:47:49 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Iran carried out fresh strikes across the Persian Gulf hours before President Trump’s deadline to reopen the Strait of Hormuz expires, as the waterway’s closure continues to rattle global energy markets. The United Arab Emirates reported drone and missile attacks by the Islamic Republic overnight into Monday. Israel launched a wave of airstrikes on infrastructure in Tehran and said it’s preparing to expand ground operations in Lebanon, where it’s fighting Iran-aligned Hezbollah. Trump’s 48-hour ultimatum to “fully open” the vital strait — a conduit for about a fifth of global oil and liquefied natural gas exports — expires at 7:44 p.m. eastern time on Monday, after which he’s threatened strikes on Iran’s power plants. Should such an attack occur, Iran has threatened to hit power and water plants across the region. One senior Iranian official said on social media that the headquarters and assets of financial entities that buy US Treasury bonds are “legitimate targets.”

2) Global bond yields have risen to the highest since May 2024 as a surge in energy costs due to the Middle East conflict leads traders to position for central bank interest-rate hikes. US yields are perched at their highest in months after a third straight week of bond losses on speculation the Federal Reserve may be compelled to raise borrowing costs to combat inflation. Australia’s 10-year yields climbed to the highest level since 2011 on Monday, while those in New Zealand are at the highest since May 2024. India’s 10-year yield rose to a level last seen in January 2025. Japanese and South Korean bond yields also climbed, while European bond futures dropped.

3) Oil gained from the highest close since mid-2022, as investors assessed President Donald Trump’s two-day ultimatum to Iran to reopen the Strait of Hormuz and Tehran’s threat of reprisals. Brent rose above $113 a barrel, up for a fifth day, while West Texas Intermediate was near $100. Global benchmark Brent has surged by more than 50% since the strikes by the US and Israel on Iran began in late February. The conflict has shown no signs of abating, with key petroleum-product markets rallying even harder than crude. That’s threatened to unleash a wave of global inflation, bringing turmoil to financial markets from commodities to stocks and bonds.

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Bloomberg Daybreak: Mortgage Rates, Denmark Election, BYD Earnings

Fri, 20 Mar 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Alexis Christoforous take a look at some of the stories we'll be tracking in the coming week.

In the US – a look at to what we can expect for mortgage rates in 2026.
In the UK – we preview Denmark's upcoming snap elections
In Asia – a discussion on what we can expect when EV maker BYD releases earnings

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Iran Keeps Striking Gulf; Oil Set for Weekly Surge

Fri, 20 Mar 2026 09:33:50 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran pressed ahead with attacks on Arab states in the Persian Gulf even after Israel signaled it would refrain from hitting the Islamic Republic’s energy infrastructure, fueling volatility in markets roiled by the war in the oil-rich region.
2) Oil headed for another weekly gain as the war in the Middle East dragged on, with the Strait of Hormuz all-but-closed, strikes continuing across the region, and analysts warning the crisis may deepen.
3) Sanae Takaichi had warned her first summit with Donald Trump in Washington could be “extremely difficult,” after the US asked her to deploy warships to Iran. Instead, she showcased Japan’s deep ties with the US — and her own agility on the world stage. Takaichi smiled politely during the only obvious moment of tension during their Oval Office meeting on Thursday, when Trump referenced the Japanese attack on Pearl Harbor in 1941. Otherwise, the Republican leader praised Takaichi, highlighted new areas of economic cooperation and pledged to speak up for Tokyo when he eventually meets Chinese President Xi Jinping.

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Trump Calls for Iran De-escalation; Oil and LNG Jump

Thu, 19 Mar 2026 09:37:37 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump sought to stop attacks on energy facilities in the Middle East after Israel and Iran struck key targets, fueling concern that a prolonged war will cause lasting damage to oil and gas infrastructure. Iran unleashed waves of retaliatory strikes on projects in Arab countries across the Persian Gulf overnight into Thursday after its prized South Pars gas field — part of the world’s largest gas field shared with Qatar — came under Israeli fire, jolting markets.
2) A Qatari complex housing the world’s largest liquefied natural gas export plant suffered “extensive damage” amid a sharp escalation of attacks on energy facilities across the Persian Gulf.
3) Federal Reserve Chair Jerome Powell made it clear the US central bank won’t cut interest rates again until inflation resumes cooling. And that’s before it even starts considering the possible impact of the war in the Middle East.

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Iran Vows Revenge; Trump Says War May End Soon

Wed, 18 Mar 2026 09:31:26 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iranian attacks on Israel and Arab states in the Persian Gulf continued overnight into Wednesday, while President Donald Trump said the US could end the war with the Islamic Republic “in the near future.”Iran launched fresh waves of missile and drone attacks, targeting the United Arab Emirates, Saudi Arabia and Kuwait. It also struck Tel Aviv and killed two people.
2) President Donald Trump is desperate to reopen the Strait of Hormuz to ease a growing global energy crisis. He won’t achieve that easily without a ceasefire in the war on Iran.Iran’s sporadic attacks on vessels and the threat of mines have cut traffic in the vital waterway to a trickle, effectively putting Tehran, not outside naval forces, in charge of the flow. The strait carries about a fifth of the world’s oil supplies, and the disruption has led to production cuts, fuel shortages and price increases from Asia to Europe and Africa.
3) Illinois Lieutenant Governor Juliana Stratton won the Democratic nomination for the state’s US Senate seat on Tuesday, beating a rival who far out-spent her and handing a victory to her boss and potential 2028 presidential candidate, Governor JB Pritzker.With more than 80% of the ballots counted, Stratton garnered 40% while Representative Raja Krishnamoorthi took 33%, according to Decision Desk HQ. Representative Robin Kelly, who some Democrats thought would undercut support for Stratton, trailed with 18%.

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Iran Hits UAE Gas Field; Trump Delays China Summit

Tue, 17 Mar 2026 09:49:19 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran set a massive natural gas field in the United Arab Emirates ablaze as it steps up attacks on key energy sites, while US President Donald Trump appealed to allies and the likes of China to help reopen the Strait of Hormuz.
2) President Donald Trump’s request for a delay to his summit with Chinese leader Xi Jinping is a likely welcome development for Beijing, even as it threatens to inject new uncertainty into ties between the world’s two largest economies.
3) US stocks fell and Treasury yields rose after attacks on key energy infrastructure in the Middle East drove a renewed advance in oil prices.Futures for the S&P 500 dropped 0.3% as optimism from the previous session faded. Brent climbed 3.6% toward $104 a barrel after Iran struck energy facilities around the Persian Gulf. Treasuries declined modestly, with the 10-year yield rising one basis point to 4.23%. The dollar was little changed.The US-Israeli war against Iran continues to reverberate, with traders focused on crude shipments through the Strait of Hormuz. Rising oil prices are fueling inflation concerns ahead of the Federal Reserve and other major central bank meetings, with US diesel topping $5 a gallon for the first time since 2022.

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Iran Denies it Wants Truce; Trump Presses Allies on Hormuz

Mon, 16 Mar 2026 09:41:52 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran denied US President Donald Trump’s assertion that it wants ceasefire talks, launching fresh attacks across the Persian Gulf and forcing a suspension of flights at Dubai’s main airport.The United Arab Emirates and Saudi Arabia reported drone and missile attacks overnight into Monday. Dubai halted flights at its main airport following a fire at a fuel tank that it said was caused by an Iranian drone. It announced a gradual resumption a few hours later, though Emirates said some of its scheduled flights for the day would be canceled.
2) As the US-Israeli war on Iran enters its third week, pressure is growing on the person in the best position to end it: Donald Trump. But the US president’s ever-shifting explanations for why he went to war leave friends and adversaries at a loss to forecast when he’ll be ready to stop. And even if he does, Iran has shown little willingness to go along. Trump has gone from declaring the war over soon to calling on European and Gulf allies to help. They’re reluctant, and the likes of Russia are benefiting.
3) President Donald Trump predicted Cuba wants to make a deal with the US, but said he wants to finish the war with Iran before turning his attention to the Communist island nation.“I think we will pretty soon either make a deal or do whatever we have to do,” he told reporters Sunday on Air Force One. “We’re talking to Cuba, but we’re going to do Iran before Cuba.”Under Trump, the US has been tightening the screws on Cuba, imposing an almost total fuel blockade that has exacerbated already hours-long blackouts

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Daybreak Weekend: Fed Meeting, Europe Central Bank Decisions, Takaichi-Trump Meeting

Fri, 13 Mar 2026 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to next week’s monetary policy decision from the Federal Reserve and a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the Bank of England and European Central Bank decisions.
In Asia – a look ahead to Japanese Prime Minister Sanae Takaichi’s meeting with President Donald Trump in Washington.

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Trump Warns Iran; Hormuz Threat Keeps Oil on Edge

Fri, 13 Mar 2026 09:49:13 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) US President Donald Trump threatened Iran with further attacks after the Islamic Republic’s new leader signaled defiance and suggested there would be no easing of a war that’s upending energy flows and global markets. “We have unparalleled firepower, unlimited ammunition, and plenty of time,” Trump said on Truth Social. “Watch what happens to these deranged scumbags” on Friday, he said, referring to Iran’s leaders.

2) Stocks extended their declines as investors remained wary of risks from the Iran war heading into the weekend, with oil prices holding above $100 a barrel.
Europe’s Stoxx 600 index slumped 0.9% putting the benchmark on course for a second week of losses. US futures retreated 0.4% after the S&P 500 Index slid to its lowest since November. Brent crude edged higher, trading around $102, after rallying 9.2% on Thursday.

3) Investigators worked Friday to determine the exact reason a man with a rifle crashed into a large Michigan synagogue in what federal officials are saying was an attack carried out by a 41-year-old naturalized U.S. citizen born in Lebanon. Ayman Mohamad Ghazali was killed by security after ramming into Temple Israel in West Bloomfield Township near Detroit, Michigan, and driving down a hallway in a vehicle that then caught fire, according to authorities.

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Iran Escalates Attacks on Shipping; Oil Prices Keep Rising

Thu, 12 Mar 2026 09:36:56 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Brent briefly jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs to cope with the fallout from the conflict. The global oil benchmark surged as much as 10% to $101.59 a barrel, while West Texas Intermediate rose to near $96, before paring gains. Two tankers were struck in Iraqi waters and Oman temporarily cleared ships from its key export terminal outside of the Strait of Hormuz, underscoring the widening threats to energy supply and overshadowing a record reserves release by the IEA to try and cool prices. In further signs of strain, Chinese refiners have begun canceling agreed refined fuel export cargoes, including gasoline and diesel. The country’s top processors were told last week to stop signing new contracts, and the latest directive is a step up from the earlier guidance.
2) Goldman Sachs Group Inc. and Citigroup Inc. have told staffers in Dubai to stay away from their offices as Iran’s attacks on Gulf cities continue. Goldman has instructed employees to seek permission before going into its offices across the Middle East, according to people familiar with the matter. Standard Chartered Plc also asked staff in the Dubai International Financial Centre and nearby areas to leave their offices on Wednesday, the people said, declining to be identified discussing confidential information. Several Wall Street banks have already been allowing employees in the United Arab Emirates to work remotely since the war began. Some lenders have also offered staff the option to temporarily leave the country, Bloomberg News has reported.
3) President Trump’s administration started the first of several sweeping trade investigations that set the stage for new tariffs, the centerpiece of a push to replace levies struck down by the US Supreme Court. US Trade Representative Jamieson Greer announced Wednesday that his office would begin a probe into more than a dozen major economies under Section 301 of the Trade Act focused on alleged excess manufacturing capacity. The investigations, which typically take months to complete, are required for the president to unilaterally place duties on imports from specific countries deemed to employ unfair trading practices. Economies that will be subject to the inquiry include some of the US’s largest trading partners: China, the European Union, Mexico, India, Japan, South Korea and Taiwan.

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Massive Oil Stockpile Release; Iran Market Volatility

Wed, 11 Mar 2026 09:59:41 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The International Energy Agency is proposing a release of emergency oil reserves, according to a person with knowledge of the matter, as governments seek to contain a spike in energy prices driven by the Middle East war. It was not immediately clear whether the IEA proposal was formal and included specific amounts for member nations. While countries have so far agreed in principle to inject more oil into the market if needed, it is not evident that all believe that the situation is yet urgent enough to make that move. The person, who asked not to be named because discussions are not public, did not provide a figure. The Group of Seven nations said on Wednesday that they supported, in principle, “proactive measures” including the release of strategic reserves, though they did not provide details on the scale of a potential intervention.

2) Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran. Oil prices plummeted after Energy Secretary Chris Wright erroneously posted — and then deleted — a message that the US Navy had escorted an oil tanker through the Strait of Hormuz. White House Press Secretary Karoline Leavitt subsequently conceded no such operation had occurred, while adding the US military was “drawing up additional options” to address any attempt by Iran to constrain trade through the vital artery. Later Tuesday, President Trump posted his own flurry of messages on social media. First, he insisted the US had “no reports” of mines being placed, but then urged Iranian forces to remove any explosives they may have laid.

3) Oracle Corp. shares gained in extended trading after the company posted strong results and gave an outlook that suggested there is little letup in demand for AI computing. Revenue in Oracle’s closely watched infrastructure business increased 84% to $4.9 billion in the period ended Feb. 28, the company said Tuesday in a statement. That marked a faster jump than the 79% anticipated by analysts and a 68% sales rise in the previous quarter. The company is working to deliver on massive cloud infrastructure contracts with customers like OpenAI and Meta Platforms Inc. Known for its namesake database software, Oracle has found success with its cloud business by providing chip-filled data centers and other equipment for training and deploying AI models.

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Iran War To End 'Soon' Says Trump, Oil Prices Tumble As Stocks Gain

Tue, 10 Mar 2026 09:46:58 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump on Monday said the US and Israel were making significant progress in their war on Iran and could end the conflict “very soon,” curtailing an oil-price surge. Trump said he didn’t believe the fighting would be over this week, but insisted the operation was ahead of schedule. The US Navy will escort tankers out of the Middle East to maintain a steady oil supply through the Strait of Hormuz, he added. The effective closure of the strait, vital to the world’s flow of petroleum and to container shipping, has caused oil and natural gas prices to soar, and stoked fears of inflation. Brent crude, having climbed to almost $120 a barrel early Monday, is back down to $91.50, but is still up more than 50% this year on the US-Iran tensions. There’s as yet little sign Hormuz can be opened quickly, with Iran continuing to retaliate with drone and missile strikes across the region.
2) Stocks rose and crude oil fell as President Trump signaled the Iran war may be nearing an end, helping boost sentiment after Monday’s selloff in risk assets. The MSCI Asia Pacific Index climbed 3.1%, with technology shares leading gains. European stocks were also set to advance with contracts indicating a 1.4% jump at the open. However, equity-index futures for the S&P 500 Index slipped 0.2%, indicating the recovery that started on Wall Street on Monday may be running out of steam. The rebound in sentiment for markets came as Trump said the war with Iran would be resolved “very soon.” Even so, from the UAE to Bahrain to Kuwait, several Middle Eastern countries announced missile threats, sounded sirens or intercepted drones on Tuesday. Trump said he didn’t believe the conflict would be over this week.
3) Kevin Warsh will meet with senators this week as he seeks their approval to become chairman of the Federal Reserve, according to three people familiar with the plans. The customary meetings with senators before his expected hearing mark the next stage in Warsh’s quest to replace Jerome Powell as the head of the national monetary system. One of the senators on Warsh’s schedule is Sen. Thom Tillis (R-N.C.), according to two of the people. Tillis has said he likes Warsh as a potential chairman but opposes moving the nomination until the Justice Department halts its investigation of into the Federal Reserve’s $2.5 billion renovation of its headquarters. Tillis has warned the probe amounts to inappropriate pressure on Powell to lower interest rates. Trump formally nominated Warsh last week in hopes of replacing Powell before the incumbent’s term expires May 15. Treasury Secretary Scott Bessent has said he expects Warsh to get a hearing, notwithstanding Tillis’s blockade.

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Oil Surges Past $100 a Barrel; Khamenei’s Son Takes Power in Iran

Mon, 09 Mar 2026 09:47:06 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Trump called $100 oil a “small price to pay,” with neither side showing any sign of deescalating a war now entering its 10th day. Mojtaba Khamenei, 56, won a “decisive vote” in Iran’s Assembly of Experts, the semi-official Fars news agency reported Sunday. The Islamic Revolutionary Guard Corps, one of Iran’s most powerful and feared organizations, pledged full obedience to the new leader in a statement. Trump, meanwhile, said the US and Israeli military campaign against the Islamic Republic was worth any near-term pain because it would bring long-lasting benefits.
2) Equities tumbled as deepening turmoil in energy markets sent oil above $100 a barrel for the first time since 2022. Bond losses accelerated while the dollar hit the highes level in nearly two months. Futures for the S&P 500 fell 1.5% as the opposing sides in the US-Israeli war against Iran showed little sign of backing down after more than a week of conflict. Brent soared 15% after Middle Eastern producers cut output, stoking fears of an inflation shock that pushed the 10-year Treasury yield five basis points higher to 4.19%. Selling swept across regions and asset classes as the geopolitical flareup added fresh stress to markets that are already under pressure from AI disruptions and worries about the potential for cracks in credit markets.
3) Authorities are investigating potential terrorism links to two suspects in custody over what New York City Police Commissioner Jessica Tisch said was an improvised explosive thrown near Mayor Zohran Mamdani’s residence, people familiar with the investigation said. While Tisch did not elaborate on the investigation, people familiar with the investigation said the suspects — identified as Emir Balat and Ibrahim Kayumi by the commissioner — told detectives they believed the leader of an anti-Muslim protest near Mamdani’s residence had insulted their religion and described the devices as retaliation. Investigators also found the men had watched Islamic State propaganda videos before the protests, the people said. Authorities on Saturday arrested a total of six people connected to the broader unrest stemming from the anti-Muslim demonstration outside the residence near East End Avenue and East 87th Street starting at about 11 a.m. local time. Mamdani is the city’s first Muslim mayor.

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Daybreak Weekend: US CPI, Paris Nuclear Talks, Vietnam Elections

Fri, 06 Mar 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to Paris nuclear talks.
In Asia – a look ahead to legislative elections in Vietnam.

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Iran Barrage Sweeps Mideast; House Rejects War Powers Bid

Fri, 06 Mar 2026 10:41:58 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran fired a barrage of missiles and drones targeting countries across the Persian Gulf overnight, while Israel renewed airstrikes on the Islamic Republic in a war that’s entered a seventh day with no end in sight. Saudi Arabia, Kuwait and Bahrain were among those that came under renewed attack from the Islamic Republic, while Israeli airstrikes hit Tehran and Beirut. The war has left at least 1,332 people dead in Iran so far, and dozens of others have been killed elsewhere in the region in retaliatory strikes. The Pentagon said six US troops have been killed, all in the first two days of fighting. President Trump said the US continues to “totally demolish” Iranian forces, telling NBC he wanted to “clean out” Iran’s leadership structure and he had names in mind to take over.
2) The US House voted down legislation to force a halt to US strikes on Iran as a handful of Democrats joined a nearly united Republican party in rejecting the measure. The 219-212 vote Thursday against the war powers resolution was largely symbolic, since it would have had to pass both chambers and the Senate’s version of the measure failed a procedural vote on Wednesday. The outcome allows President Trump to proceed in a conflict with uncertain costs, consequences and economic effects that commands far less initial political support than the US wars in Afghanistan and Iraq. The American public turned against both those wars.
3) President Trump removed Kristi Noem as Homeland Security secretary after months of controversy and announced he would replace her with Oklahoma Senator Markwayne Mullin. Trump posted on social media Thursday that the move would take effect March 31. He said that Noem would take a role as a special envoy for the Western Hemisphere. The change marks the first time Trump has replaced a Cabinet member during his second term. White House Press Secretary Karoline Leavitt said in a social media post that the administration will work to confirm Mullin “as quickly as possible.” A White House official didn’t respond to a question about whether he would also serve in an acting capacity before a possible Senate confirmation.

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Iran Vows Intensified Response; Senate Rejects War Powers Measure

Thu, 05 Mar 2026 10:58:46 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US-Israeli war on Iran entered a sixth day with no sign of easing, as the Islamic Republic said its retaliation against American strikes would escalate. Arab states across the Persian Gulf reported interceptions of Iranian missiles and drones overnight and into Thursday. Israel is carrying out waves of airstrikes on Tehran, hitting military and intelligence assets, following attacks on Hezbollah militia in Lebanon. President Trump said on Wednesday that the US was “doing very well on the war front.” The White House said American forces had struck more than 2,000 targets and were moving toward “complete and total control of Iranian airspace,” while the Islamic Republic’s regime had been “absolutely crushed.” Iran’s Islamic Revolutionary Guards Corps said retaliatory attacks will intensify in coming days, according to the Nour news agency. Tehran will target Israel’s Dimona nuclear facility if the US seeks regime change, Iran’s semi-official ISNA said.
2) The Senate voted 53 to 47 against a measure that would have required congressional approval for President Trump’s military operations against Iran, and similar war powers resolutions are expected to fail in the House. Most Republicans have backed Trump’s decision to bypass Congress, arguing he is constitutionally authorized, though several have warned that support is not unlimited -- particularly if the conflict becomes prolonged or involves ground troops. Some GOP lawmakers expressed concern privately about oversight and the lack of hearings, while Democrats have pledged to repeatedly force war powers votes despite slim chances of passage.
3) Federal Reserve Governor Stephen Miran said he thinks it’s still appropriate to continue cutting interest rates given that it’s too early to take a stance on the impact of war in the Middle East on the US economy. Oil prices surged after the US and Israel launched attacks across Iran over the weekend, and investors marked down the odds of Fed rate cuts in 2026. Some Fed officials speaking this week have suggested it raises uncertainty over the outlook — a development Fed watchers have interpreted as possibly keeping the central bank on hold for longer.

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War Causes Market Turmoil; Trump Seeks Oil Security

Wed, 04 Mar 2026 10:44:13 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the US will ensure safe passage of oil from the Middle East to head off a potential energy crisis caused by the war with Iran, which continues to reverberate across the region and roil markets. The fighting has showed no signs of abating five days after it erupted, with Israel and Iran continuing to exchange airstrikes and missile fire. Hundreds of people have died in Iran and dozens elsewhere in the region, while the US says six of its servicemen have been killed. In all, about a dozen nations have become embroiled in the conflict, with Tehran striking at US bases and embassies across the Middle East, and Israel launching an air and ground offensive against Hezbollah in Lebanon after it came under attack from the Iran-aligned group.
2) Canadian Prime Minister Mark Carney said his support for US military action in Iran came “with regret” because the current conflict is another example of the failure of the international order. Israel and the US acted without engaging the United Nations or allies including Canada, he noted. At the same time, Carney said he agrees with the objective of stopping Iran from obtaining nuclear weapons or further threatening international peace and security through its support of terrorism. Meanwhile, Chancellor of the Exchequer Rachel Reeves said the UK shouldn’t sacrifice its principles for more favorable trading terms with the US, as she stood by the government’s decision to withhold British backup for the American-Israeli assault on Iran.
3) US Senator John Cornyn and Texas Attorney General Ken Paxton are heading for a runoff in the Republican primary for the US Senate in Texas, while state Representative James Talarico defeated Congresswoman Jasmine Crockett in a Democratic race that was marred by legal challenges. In the GOP primary, Cornyn was leading with a little more than 42% support, less than two points over Paxton as of early Wednesday. A third candidate, US Representative Wesley Hunt, won enough votes to deny either a majority, sending Cornyn and Paxton to a two-person race to be decided in May. The runoff sets up more than two months of additional campaigning that will further drain the candidates’ coffers as Republican seek to defend their majority in the Senate in November.

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Iran War Ripples Across Region; US & China Trade Chiefs to Meet

Tue, 03 Mar 2026 10:47:28 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US-Israeli war on Iran reverberated across the Middle East and global markets on Tuesday, as oil and gas prices surged and Tehran vowed to close the Strait of Hormuz, a vital shipping lane. Both the US and Israeli militaries continued to bombard Iran’s capital. The US embassy in Riyadh was attacked by two drones, causing limited damage, and Israel sent soldiers into southern Lebanon, where the Iran-aligned Hezbollah militia is based. The escalation came as the US sent conflicting messages about how long the war might last, and an adviser to Iran’s Islamic Revolutionary Guard Corps commander told state TV that forces “will set fire to any ship attempting to pass through” the Strait of Hormuz. China, which buys most of Iran’s oil, urged “all sides” to ensure the safe passage of ships through the waterway, where traffic has effectively halted.
2) President Trump escalated his criticism of Prime Minister Keir Starmer, in a fresh indication of how strained the two allies’ relationship has become over the US president’s efforts to enlist the UK’s help in its strikes against Iran. Starmer — who declined a US request to use British bases for offensive operations against the Islamic republic — has “not been helpful,” Trump said in an interview with The Sun tabloid. “It’s very sad to see that the relationship is obviously not what it was.” It’s the latest in a series of jibes Trump has made toward the Labour Party leader since he pushed back against Trump’s designs on Greenland earlier in the year. The US president has repeatedly criticized Starmer’s deal ceding sovereignty of the Chagos Islands to Mauritius — something he did again in his Sun interview — and has also dismissed Britain’s role alongside American troops in the Afghanistan war.
3) US and Chinese trade negotiators are slated to meet in mid-March, according to people familiar with the matter, signaling a planned summit between Donald Trump and Xi Jinping is pushing ahead despite American strikes against Iran. US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and China’s Vice Premier He Lifeng are expected to convene in Paris at the end of next week to discuss business deals that could stem from the leaders’ meeting, said the people who requested anonymity to discuss plans that aren’t yet public. Both the timing and location of the meeting could still shift, the people added. Among the issues that could be addressed are a possible Chinese purchase of Boeing Co. planes, commitments to buy US soybeans and Taiwan, the self-ruled island China views as its own, some of the people said. The future of US fentanyl tariffs struck down by the Supreme Court could also be on the agenda, they added.

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Trump Urges Iran Leadership Change; Oil Spikes on Hormuz Disruptions

Mon, 02 Mar 2026 10:47:33 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the bombing campaign against Iran will continue until its objectives are achieved, calling on the nation’s leaders to capitulate as a report indicated at least one top official in Tehran sought to resume nuclear talks with the US. Trump on Sunday re-confirmed the death of Iran’s supreme leader, Ayatollah Ali Khamenei, and said the US and Israel had struck hundreds of targets in Iran including Revolutionary Guard facilities and air defenses. The US military’s Central Command announced Sunday that three US service members were killed and five “seriously wounded” during operations against the Islamic Republic, but gave no further details. Trump, who campaigned for the presidency on a pledge not to endanger American troops in the Middle East, called their deaths part of “the righteous mission” in a video posted on social media. “There will likely be more before it ends. That’s the way it is.”
2) Saudi Arabia and the United Arab Emirates are stepping up criticism of Iran’s regional attacks, while Gulf states consider coordinating efforts to halt what they’ve called “treacherous” and “heinous” actions by Tehran. Ministers from Gulf Cooperation Council nations held an extraodinary meeting on Sunday to review damages from Iran’s strikes on countries spanning from the UAE to Bahrain, Qatar and Oman, and consider necessary steps to restore stability and peace to the Middle East, according to a statement from state-run Saudi Press Agency. The states affirmed their right to respond to respond to Iran in “self-defense, either individually or collectively” and said GCC members “will take all necessary measures to defend their security and stability and to protect their territories, citizens, and residents, including the option to respond to the aggression.”
3) Oil surged the most in four years as traders gauged the impact of the effective closure of the Strait of Hormuz triggered by US and Israeli strikes against Iran, with hostilities escalating across the region. Global benchmark Brent was more than 9% higher near $80 a barrel, after earlier rallying by as much as 13% to the highest since January 2025. Tanker traffic through the strait — the chokepoint off Iran’s coast that handles a fifth of the world’s oil and large volumes of gas — has largely halted, with a self-imposed pause in place by shipowners and traders as the conflict spreads.

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Introducing: Bloomberg This Weekend

Sun, 01 Mar 2026 10:00:00 +0000

'Bloomberg This Weekend' features unique conversations on business, news, lifestyle and culture. Join David Gura, Christina Ruffini and Lisa Mateo Saturdays and Sundays for discussions with business leaders, lawmakers and cultural icons.

Watch the show LIVE on Bloomberg Television from 7AM-10AM Eastern Time.
Listen to the show LIVE on Bloomberg Radio from 7AM-10AM Eastern Time.

Listen to the Podcast for the best conversations from the show.
Subscribe on Apple:
https://podcasts.apple.com/us/podcast/bloomberg-this-weekend/id1878739308
Subscribe on Spotify:
https://open.spotify.com/show/5DQ8CEg9LeS1xGJSaxt47l

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Instant Reaction: US, Israel Attack Iran as Trump Urges Regime Change

Sat, 28 Feb 2026 13:54:25 +0000

The US and Israel began striking targets across Iran, with President Donald Trump urging Iranians to overthrow the government in a conflict that threatens to spiral across the oil-rich Middle East.

“The hour for your freedom is at hand,” Trump said, addressing Iranians in a video posted on Truth Social on Saturday. “When we’re finished, take over your government. It will be yours to take. This will be probably your only chance for generations.”

The military campaign could be a defining moment for Trump, risking a drawn-out regional war that leads to a surge in energy prices and American casualties ahead of mid-term elections this year. Iran quickly responded by firing missiles on Israel and US bases around the region, and countries in the Persian Gulf closed their airspace.

Israel’s military said the campaign would target “dozens of military targets,” and Iran media reported strikes on defensive and civilian sites, including more than 50 people dead in a strike on a school in Hormozgan, in the south of the country. Several large explosions were reported in the capital, Tehran.
Bloomberg's David Gura and Christina Ruffini lead our team coverage in this instant reaction podcast.

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Daybreak Weekend: US Jobs, Made in Europe, China PMI Data

Fri, 27 Feb 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the February jobs report, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to "Made in Europe" the tagline of a new scheme to rejuvenate Europe's defense, energy, and manufacturing sectors.
In Asia – a look ahead to China PMI data.

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New Iran Talks Set for Next Week; Netflix Drops Warner Bros. Bid

Fri, 27 Feb 2026 10:32:48 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) US and Iranian officials ended the latest round of nuclear talks in Geneva on Thursday by agreeing to reconvene as soon as next week, opening the door to further diplomacy even as President Trump masses military forces in the region. With just days to go before Trump’s deadline to reach an agreement, the two sides agreed to resume discussions at a technical level in Vienna. Oil pared gains given the prospect of more talks, though there was no public reaction from the US side, led by special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner. A person familiar with the US position said the Americans were leaving Geneva disappointed with the progress of the talks.
2) Former US Secretary of State Hillary Clinton said she denied any association with disgraced financier Jeffrey Epstein during a “repetitive” hours-long deposition before congressional investigators Thursday. Clinton told reporters after the deposition she is confident her husband, former President Bill Clinton, knew nothing about Epstein’s crimes. Bill Clinton, who is set to face questioning on Friday, will be the first ex-president forced to testify before Congress. Thursday’s closed-door interview, which took place in Chappaqua in upstate New York, also touched on topics ranging from UFOs to the so-called PizzaGate conspiracy theory that took hold during the 2016 presidential campaign, she said.
3) Netflix Inc. dropped out of the fight to buy Warner Bros. Discovery Inc., clearing the way for rival bidder Paramount Skydance Corp. to clinch its $111 billion deal for the historic Hollywood studio. The streaming industry leader said that while it believed its deal would have passed muster with regulators and created shareholder value, it didn’t want to keep bidding. “We’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive,” Netflix said Thursday in a statement. Instead, it will keep investing in its business, including about $20 billion this year on films, TV shows and other entertainment offerings.

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US to Probe Cuba Speedboat Shooting; Third Round of Iran Nuclear Talks Begin

Thu, 26 Feb 2026 10:35:53 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Cuba says a boat with 10 people near its coast early Wednesday was carrying weapons, and its occupants — Cubans living in the US — were intent on entering the country to fight against the government. Cuban forces killed four people who had opened fire from a speedboat with Florida tags, an incident with the potential to escalate an already tense standoff with the US. The vessel approached within one nautical mile off the coast of Villa Clara early Wednesday, Cuba’s Interior Ministry said in a statement. Six others on the speedboat were wounded and are being provided with medical care. US Secretary of State Marco Rubio told reporters on Wednesday afternoon that the Department of Homeland Security and Coast Guard would be looking into the incident.
2) The US and Iran started a third round of nuclear talks on Thursday with days to go until President Trump’s deadline for a deal. The two parties have been locked in a tense, months-long standoff over the Islamic Republic’s atomic activities and are negotiating through mediator Oman at its embassy in Geneva, the semi-official Iranian Students’ News Agency reported. Trump had given Iran a deadline of March 1-6 to strike a deal and has threatened military action if it fails to do so, sparking fears of a new Middle East war that could embroil Israel and Gulf Arab oil producers.
3) The US vowed to maintain high tariffs on China hours after Beijing warned against any future hikes, as President Trump’s sweeping levies return to the spotlight before his meeting with Xi Jinping. US Trade Representative Jamieson Greer said Wednesday that Trump wants to keep tariffs on China steady at a range of 35% to 50%, while repeating earlier statements that the Supreme Court’s decision to invalidate broad emergency tariffs wouldn’t affect most levies. Earlier the same day, China threatened to take “all necessary measures” if the US imposed fresh tariffs, after Washington signaled a probe into their 2020 trade deal would continue. Beijing reiterated it wants to use the existing consultation mechanism to build consensus.

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Trump Defends Economy & Tariffs in State of the Union

Wed, 25 Feb 2026 10:56:53 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Addressing one of his biggest audiences at perhaps the lowest moment of his second term, President Trump returned again and again in his State of the Union speech to the same message on the economy: Everything is going great. A resolute Trump was determined to will Americans into a better economic mood, seeking to paint over the affordability concerns at the center of upcoming midterm elections with statistics and self-congratulation. “Inflation is plummeting. Incomes are rising fast. The roaring economy is roaring like never before,” Trump boasted early in the nearly two-hour speech. The US president didn’t even feel compelled to roll out fresh policy ideas to address the cost of living. And where he did allow that voters might have some misgivings about cost of living, he followed his well-worn playbook of pinning blame elsewhere. Ahead of the speech, Trump’s advisers had framed the evening as an opportunity to lay out a forward-looking economic agenda that could serve as a reset ahead of the midterms. But he focused more on touting his signature tax legislation and trade policies than major new cost-of-living proposals — a hint that the issue is still vexing the White House.
2) Four days after deriding the US Supreme Court justices who struck down most of his signature tariffs, President Trump was far milder in his criticism with some of them in the room. Delivering his State of the Union address Tuesday, Trump criticized Friday’s 6-3 ruling against his sweeping global tariffs as “very unfortunate” and “disappointing.” The four justices who attended — Chief Justice John Roberts and Justices Elena Kagan, Brett Kavanaugh and Amy Coney Barrett — sat stoically in their front-row seats. Even in their relatively mild form, Trump’s comments marked a rare instance of high court criticism during a State of the Union address. In 2010, then-President Barack Obama criticized the just-issued Citizens United campaign-finance ruling, accusing the court of ignoring a century of precedent.
3) Nvidia Corp. is facing a high-stakes moment with its latest quarterly results on Wednesday, with the world waiting for fresh evidence that the AI spending boom remains on track. To satisfy investors, Nvidia likely needs to deliver another blockbuster report. That means easily topping the forecasts it gave three months ago and setting new targets that are above current Wall Street estimates. The company has done this repeatedly, but concerns have grown that the AI spending frenzy isn’t sustainable. Nvidia is the dominant supplier of processors used to develop and run AI models, making it the biggest bellwether of the artificial intelligence economy. Chief Executive Officer Jensen Huang has assured investors in public appearances that demand remains high and customers such as Meta Platforms Inc. and Alphabet Inc. have rolled out more aggressive spending plans. Investors also will be looking for additional ways for Nvidia to accelerate growth. That may include pushing further into China, where US export curbs — and Chinese pushback — have limited sales.

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Instant Reaction: Trump Touts 'Turnaround' in State of the Union

Wed, 25 Feb 2026 06:03:23 +0000

President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring “a turnaround for the ages” as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year.

The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men’s Olympic hockey team into the gallery amid chants of “USA! USA! USA!” He awarded several medals honoring veterans and active-duty service members.

And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks.

For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with:

Bloomberg White House correspondent Jeff Mason
Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor
US Interior Secretary Doug Burgum

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Record Blizzard Cleanup; Trump’s 10% Levy Takes Effect

Tue, 24 Feb 2026 10:48:33 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) A powerful winter storm started to taper off across the Northeast Monday evening after smashing records and dropping more than a foot of snow in eight states. The impact is expected to linger for days. More than 11,000 flights have been grounded through Tuesday, and more than 500,000 homes and businesses were without power as of 5:45 p.m. local time. Drivers in some parts of Massachusetts have been ordered to stay off the roads as snowplow crews struggle to catch up after whiteout conditions engulfed the state’s South Coast. Manhattan’s Central Park recorded about 20 inches (50 centimeters) of snow from Sunday through Monday. Islip on Long Island received more than 22 inches, according to the National Weather Service. Providence, Rhode Island, broke its record for a single snow storm with 32.8 inches, the National Weather Service said. The old record was set from Feb. 6-7 during the Blizzard of 1978 when 28.6 inches fell.
2) Affordability and tariffs are expected to be two key domestic themes of President Trump's State of the Union address, posing headline risk for credit-card issuers, homebuilders, single-family REITs and retailers exposed to duties. He will likely address the Supreme Court's tariff ruling, reiterating his pledge to keep them in place, while other proposals requiring congressional approval face long odds in 2026. With President Trump's approval rating at 42% according to RealClearPolitics, consumer affordability of goods and services will be a key focus for the administration ahead of the US midterm elections in November. So far in 2026, Trump has proposed measures such as a 10% cap on credit-card interest, regulatory cuts to lower household energy prices, tax relief and prohibiting corporations from purchasing single-family homes. Yet investors should note that presidential authority to drive affordability goals may be limited, especially if congressional approval is required or if tariff policy risks driving higher inflation.
3) President Trump’s new 10% global tariffs went into effect on Tuesday, kicking off a White House effort to preserve the adminstration’s trade agenda after the Supreme Court struck down his original sweeping duties. The president signed an executive order last Friday authorizing the 10% import tax just hours after the ruling. He subsequently threatened to raise the number to 15%, but Trump did not officially issue a directive to increase the rate by Tuesday at 12:01 a.m. Washington time when the 10% levy went into effect. The White House is working on a formal order that will increase the global tariff rate to 15%, according to an administration official. The timeline for implementing that higher levy has not been finalized, said the official, who spoke on the condition of anonymity to discuss private matters.

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Winter Storm Pummels East Coast; Tariff Defeat Tests Trade Deals

Mon, 23 Feb 2026 10:49:07 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) A powerful winter storm has isolated New York City and hobbled transport networks, threatening to be among its worst on record, with 41 million people across the US East Coast facing blizzard conditions. The storm shut down the vast majority of flights out of the region’s largest airports on Monday, including in the New York area and in Boston. New York City Mayor Zohran Mamdani declared a state of emergency and closed streets, highways and bridges to most traffic after 9 p.m. Sunday until noon Monday. Major snowfall of as much as 30 inches is expected across the East Coast in some areas, with the heaviest set through Sunday night and into Monday morning, the National Weather Service said, making travel impossible.
2) Senior US officials said President Trump’s tariff defeat at the Supreme Court won’t unravel deals negotiated with US partners as they sought to defend the administration’s assertive trade policies. Those deals — which the administration made with partners including China, the European Union, Japan and South Korea — remain in place, US Trade Representative Jamieson Greer said Sunday on CBS’s Face the Nation. He sought to separate those arrangements from the planned 15% global tariff Trump announced Saturday. Friction over the renewed uncertainty spilled out Sunday as the European Parliament’s trade chief said he’ll propose freezing the EU’s ratification of a trade deal with the US until the Trump administration clarifies its policy. In New Delhi, officials cited similar reasons for India postponing talks in the US this week on finalizing an interim trade deal. The US Supreme Court ruling that struck down Trump’s use of emergency authority to wield tariffs preceded his planned trip next month to China. Greer suggested that alternative US trade tools, including those involving investigations of other countries’ trade practices, would give the US leverage.
3) The US and Iran are set to resume talks Thursday in Geneva, according to Omani mediators. Iranian Foreign Minister Abbas Araghchi said he expects to meet US special envoy Steve Witkoff for the talks and reiterated that Iran won’t be pressured by a US military buildup in the region. Omani Foreign Minister Badr Albusaidi said on X that the US-Iran negotiations “are now set for Geneva this Thursday, with a positive push to go the extra mile towards finalizing the deal.” After talks last week, a US official said Iran was expected to return with proposals in two weeks to bridge remaining gaps. The US has orchestrated a massive military buildup in the Middle East including two aircraft carriers as President Trump presses Tehran for a new nuclear deal. Trump said on Friday he’s considering limited strikes on Iran, risking another destabilizing conflict.

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Daybreak Weekend: Nvidia Earnings, UK Special Election, Modi Israel Visit

Fri, 20 Feb 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from chipmaker Nvidia along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to a special election in the UK.
In Asia – a look ahead to India Prime Minister Narendra Modi’s two-day visit to Israel.

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Instant Reaction: Trump's Global Tariffs Struck Down By Supreme Court

Fri, 20 Feb 2026 16:07:21 +0000

The US Supreme Court struck down President Donald Trump’s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House.

Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his “reciprocal” tariffs across the globe as well as targeted import taxes the administration says address fentanyl trafficking.

The justices didn’t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion - more than half the total revenue Trump’s tariffs have brought in.

For instant reaction and analysis, Bloomberg Intelligence co-hosts Paul Sweeney and Scarlet Fu, o speak with:

- Bloomberg Washington correspondent Tyler Kendall
- Bloomberg Legal Analyst and host of Bloomberg Law June Grasso
- Henrietta Treyz, Managing Partner and Director of Economic Policy at Veda Partners
- Dave Townsend, Partner with Dorsey & Whitney

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Trump Pushes Iran on Deal; Former Prince Andrew Released After Arrest

Fri, 20 Feb 2026 10:33:47 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US military is stationing a vast array of forces in the Middle East, including two aircraft carriers, fighter jets and refueling tankers, with President Trump saying that Iran had 10 to 15 days at most to strike a deal over its nuclear program. “We’re either going to get a deal, or it’s going to be unfortunate for them,” Trump told reporters Thursday aboard Air Force One. On a deadline, Trump said he thought 10 to 15 days was “pretty much” the “maximum” he would allow for negotiations to continue. The deployment is unlike anything the US has done since 2003, when it amassed forces before the invasion of Iraq. It dwarfs the military buildup that Trump ordered off the coast of Venezuela in the weeks before he ousted President Nicolas Maduro. While the US isn’t likely to deploy ground troops, the buildup suggests Trump is giving himself discretion to launch a sustained campaign lasting many days, in cooperation with Israel.
2) President Trump declared victory in the fight over cost-of-living concerns, signaling a new approach that seeks to deny problems with his economic agenda while touting stock market gains to insist that his tariff plans have been a success. Pocketbook issues have emerged as the central focus of the upcoming November congressional elections with households hit hard by costs for groceries, utilities and housing. Polls show voters have soured on Trump’s economic policies, endangering Republicans’ hold on both chambers of Congress and the future of the president’s legislative agenda. Trump and allies have highlighted slowing inflation and job growth that has come in above expectations, but that has failed to assuage voters, and opened the door for Democrats who have seized on that discontent to boost their midterm prospects.
3) Andrew Mountbatten-Windsor, the brother of the UK’s King Charles, was released under investigation on Thursday after being arrested on suspicion of misconduct in public office. The Thames Valley Police confirmed it had released a Norfolk man in his sixties, without mentioning the former royal by name. Last week, the police force said it was leading the assessment of allegations tied to the US Department of Justice’s publication of files related to convicted sex offender Jeffrey Epstein. King Charles III issued a statement outlining his “deepest concern” about the matter and promising Buckingham Palace’s “full and wholehearted support and co-operation” with the investigating authorities. The arrest of Andrew, who turned 66 on Thursday, heaps further embarrassment on Britain’s royal family following years of lurid allegations about ties with Epstein that the former prince has consistently denied. His arrest appears to be the first of a UK royal since King Charles I in the 17th century following his defeat in the English Civil War.

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US Ratchets Up Iran Pressure; OpenAI Funding to Top $100 Billion

Thu, 19 Feb 2026 10:39:23 +0000

On today's podcast:
1) While both the US and Iran have sounded cautiously upbeat about the latest round of diplomatic talks between the nations, analysts believe that strikes on Iranian targets remain a likely possibility. The US has amassed military assets in the Middle East and has dispatched a second aircraft carrier to the region. Concerns of a broader conflict held Brent crude above $70 a barrel. The US also announced new visa restrictions, with the State Department saying it is targeting 18 Iranian officials and telecommunications industry leaders and their immediate family members for the crackdown and communications blackout, blaming them for “inhibiting the right of Iranians to free expression and peaceful assembly.”
2) Billionaire retail tycoon Leslie Wexner told a US House panel Wednesday that he visited Jeffrey Epstein’s private Caribbean island but said at the time he wasn’t aware of any sex trafficking operation involving the disgraced financier. Wexner said he went to the island once with his wife and children “for a few hours” while the family was in the area on their boat, according to his opening statement in a deposition to congressional investigators that was provided to Bloomberg News by his attorney. The House Oversight Committee has been investigating what role Epstein’s broad network of connections may have played in facilitating his enterprise or delaying criminal prosecution. Wexner was questioned behind closed doors by congressional investigators for six hours on Wednesday, a spokesman for the panel said.
3) OpenAI is close to finalizing the first phase of a new funding round that is likely to bring in more than $100 billion, according to people familiar with the matter, a record-breaking financing deal that would give the startup additional capital to build out its artificial intelligence tools. As the ChatGPT maker prepares to spend trillions in infrastructure investment, the overall valuation of the company, including the eventual funding, could exceed $850 billion, according to some of the people. That’s higher than the $830 billion initially expected. The company’s pre-money value will remain $730 billion, said one person, all of whom asked not to be identified discussing private information.

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US & Iran Hail Progress; Ukraine and Russia Resume Talks

Wed, 18 Feb 2026 10:39:38 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran made progress in nuclear talks in Geneva on Tuesday, with Tehran’s negotiators scheduled to return with a new proposal in two weeks, a US official said on Tuesday, a cautiously upbeat assessment that suggests the chances of an imminent military clash are low. The official, who asked not to be named, said Iran would return with detailed proposals to address the remaining gaps between the two sides, but cautioned that there were still a lot of details to discuss. In an earlier statement, Iran said it had reached a “general agreement” with the US on the terms of a potential nuclear deal that would lift sanctions on Tehran and ease the risk of a broader war in the Middle East. But from the outset, there was also confusion between the US and Iranian sides on the scope of the negotiations, with President Trump bringing Tehran to the talks under the threat of US airstrikes.
2) Ukraine and Russia began a second day of US-brokered talks in Geneva after Kyiv’s lead negotiator held separate meetings with American and European allies to coordinate their approach. “Consultations are taking place in groups focusing on specific areas within the political and military blocs,” Ukrainian National Security and Defense Council Secretary Rustem Umerov said Wednesday on Telegram. Russian media also reported that the negotiations had resumed behind closed doors. Umerov on Tuesday said he’d met with representatives of the US, France, the UK, Germany, Italy and Switzerland. “It’s important to maintain a common vision and coordination of actions between Ukraine, the US and Europe,” he said after the meetings in a post on Telegram. “There is an understanding of shared responsibility for the outcome.”
3) Japan plans to invest up to $36 billion in US oil, gas and critical mineral projects, the first tranche of its $550 billion commitment under the trade agreement it struck with President Trump. Japanese Prime Minister Sanae Takaichi said the projects were designed to build resilient supply chains through cooperation in areas crucial for economic security, including critical minerals, energy and artificial intelligence. The most significant investment is a natural gas facility in Ohio that’s expected to generate 9.2 gigawatts of power, according to a statement from US Commerce Secretary Howard Lutnick, a massive project which Trump described as “the largest in History.”

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Jesse Jackson Dies; Iran & US Meet for Nuclear Talks

Tue, 17 Feb 2026 11:00:57 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The Reverend Jesse Jackson, the civil rights leader who marched alongside Martin Luther King Jr. and later ran for president, has died at 84, according to a statement from his family released early Tuesday. Ordained in 1968, he spent decades fighting for voting rights and economic justice. A longtime advocate for racial and economic justice, Jackson was with King in Memphis in 1968 when King was assassinated. He went on to found the Rainbow PUSH Coalition and became one of the most prominent voices in American civil rights and politics.
2) Iran and the US are set to meet for a second round of nuclear talks in Switzerland on Tuesday morning as they seek to avoid renewed conflict in the Middle East following last year’s attacks on the Islamic Republic. Oman will mediate the negotiations in Geneva almost two weeks after the first round was held on February 6th, Iran’s state broadcaster said. Iranian officials have expressed willingness to discuss their nuclear-enrichment activities, but have tied any concessions to the potential easing of American sanctions. Meanwhile, Washington is increasing its military presence in the Middle East, deploying a second aircraft carrier to the region amid warnings of a possible strike on Iran if talks — which could drag on for weeks — fail to produce a compromise. Iran’s Islamic Revolutionary Guard Corps held drills around the strategic Strait of Hormuz on Monday that were focused on delivering a “decisive” response to security threats.
3) Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values. “We want Europe to prosper because we’re interconnected in so many different ways, and because our alliance is so critical,” Rubio told Bloomberg News Editor-in-Chief John Micklethwait on the sidelines of the conference on Saturday. “But it has to be an alliance of allies that are capable and willing to fight for who they are and what’s important.”

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Daybreak Holiday: Walmart, Nvidia, OpenAI

Mon, 16 Feb 2026 10:00:00 +0000

On this special President's Day Holiday edition of Bloomberg Daybreak, host Nathan Hager discusses:

-We get another big earnings report ahead of Nvidia. On Thursday, we hear from Walmart. For more, we hear from Bloomberg Intelligence Senior Analysts Jen Bartashas and Poonam Goyal.

- Nvidia reports its latest quarterly numbers next week. So what should we expect from the chip -behemoth? We speak with Mandeep Singh and Kunjan Soubhani of Bloomberg Intelligence.

-The world’s richest man, Elon Musk, is suing OpenAI, a company he co-founded. That trial is set to take place in April. We get details from Bloomberg Intelligence Litigation Analyst Matthew Schettenhelm

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Special Coverage: A Conversation with Secretary of State Marco Rubio

Sat, 14 Feb 2026 15:05:23 +0000

Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values.
The double-edged message offered some reassurance to allied leaders gathered at the Munich Security Conference but did little to temper their push for more independence from Washington.
“We want Europe to prosper because we’re interconnected in so many different ways, and because our alliance is so critical,” Rubio told Bloomberg News Editor-in-Chief John Micklethwait on the sidelines of the conference on Saturday. “But it has to be an alliance of allies that are capable and willing to fight for who they are and what’s important.”
“What is it that binds us together? Ultimately, it’s the fact that we are both heirs to the same civilization, and it’s a great civilization,” he said. “It’s one we should be proud of.”
Rubio’s comments elaborated on a speech he delivered to the event, Europe’s premier annual security gathering, earlier Saturday morning. The speech was the most anticipated of the three-day conference, with fellow leaders eager to hear if he would double down on the contemptuous tone voiced a year earlier by Vice President JD Vance at the same venue.

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Daybreak Weekend: Homebuilders Preview, UK Jobs, Lunar New Year

Fri, 13 Feb 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to what to expect from homebuilders in the months ahead along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to UK jobs data.
In Asia – a look ahead to the Lunar New Year Holiday in China.

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US to Narrow Metals Tariffs; DHS Shutdown Looms as Senate Fails to Cut Deal

Fri, 13 Feb 2026 10:47:33 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The Trump administration is working to narrow its broad tariffs on steel and aluminum products that companies find difficult to calculate and the European Union wants reined in as part of its pending trade deal with the US, a person familiar with the matter said. The US Trade Representative’s Office is scrambling to resolve complications spawned last year by the Commerce Department’s efforts to rush out President Trump’s tariff agenda, the person said. The White House has communicated to companies that adjustments are in the works, but details and timing remain unclear.
2) President Trump said his administration has rescinded the “endangerment finding,” a landmark scientific determination that greenhouse gases pose a threat to human health and welfare. The 2009 finding serves as the legal foundation for a variety of environmental rules, including federal climate standards for cars and trucks. Trump said he’s also repealing those vehicle-related standards. The decision to repeal, which has been telegraphed for months, lays the groundwork for unwinding more federal climate regulations, according to environmental and legal experts. Thursday’s announcement, made alongside Environmental Protection Agency Administrator Lee Zeldin, marks the administration’s most consequential climate rollback, as well as its biggest deregulatory move.
3) A Saturday shutdown of the Department of Homeland Security is all but inevitable after the Senate failed to advance a funding bill and headed out on a week-long recess without a deal regarding new limits on immigration enforcement. The Senate vote to begin debate on a year-long DHS bill without enforcement changes failed 52 to 47. A Republican attempt to get unanimous consent to pass a stopgap DHS bill also failed. Many department employees will be expected to work without pay during a shutdown. But a prolonged fight risks roiling workers like Transportation Security Administration employees at airports. Those carrying out immigration enforcement activities at Immigration and Customs Enforcement and Customs and Border Protection will likely be paid even during a longer shutdown by funds allocated under President Trump’s tax bill.

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House Rejects Trump Tariffs; GOP Passes Voter ID Bill

Thu, 12 Feb 2026 10:32:10 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) President Trump’s tariff policies suffered their strongest political blow yet with the Republican-led US House passing legislation aimed at ending the president’s levies on Canadian imports. Wednesday’s vote represents an increase in political pressure to change course on Trump’s signature economic policy just months before the midterm elections, including by forcing swing-district Republicans affected by the tariffs to weigh when or if to cross the president by voting against his agenda. The vote also signals a growing anxiety over the White House’s economic agenda before elections that are expected to focus heavily on affordability. Democrats were quick to attack the Republicans who voted to protect the tariffs, blaming them for shielding policies that increase the cost of living for their voters. While Trump is almost certain to veto any bill calling for a repeal of his tariff agenda, making it unlikely the measure will ever become law, defections from six Republicans alongside opposition from nearly all Democrats underscore his increasingly tenuous hold on the narrow House majority.
2) Republicans advanced voter ID legislation over the opposition of most Democrats Wednesday as House GOP leaders seek to convince their Senate counterparts to muscle through the bill. Conservatives are touting the measure, which the House passed by 218-213, as necessary to beef up election security ahead of the November midterms and 2028 presidential race. Most Democrats oppose the legislation, dubbed the SAVE America Act, and argue it would amount to voter suppression, especially for marginalized groups. The bill faces steep obstacles in the Senate, where GOP leaders would need 60 votes to overcome the legislative filibuster. House Republicans are urging Senate Majority Leader John Thune (R-S.D.) to change Senate rules to advance the bill, but the measure’s House backers are also looking at opportunities to tack it onto must-pass bills.
3) Democratic lawmakers accused Attorney General Pam Bondi of using the US Justice Department to target enemies of President Donald Trump and bungling the release of files on disgraced financier Jeffrey Epstein during a fiery hearing Wednesday. “You’ve turned the people’s Department of Justice into Trump’s instrument of revenge,” said Jamie Raskin, the top Democrat on the House Judiciary Committee in Washington. “Trump orders up prosecutions like pizza. And you deliver every time.” Raskin cited Justice Department probes of former FBI Director James Comey, New York Attorney General Letitia James and six members of Congress who recorded a video urging military service members to refuse unlawful orders. Prosecutors failed to get grand jury indictments of Comey and James, and the New York Times reported Tuesday that the department also failed to secure indictments of the lawmakers.

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Guthrie Investigation Intensifies; Ten Dead in Canada School Shooting

Wed, 11 Feb 2026 10:28:48 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) An individual who the authorities described as a person of interest has been taken into custody regarding the disappearance of Nancy Guthrie in Arizona more than a week ago, a person familiar with the matter said on Tuesday night. The case, which has attracted international attention, took a dramatic turn earlier Tuesday when the Federal Bureau of Investigation released photo and video images of the possible suspect outside Guthrie’s home near Tucson. A video posted on X shows a masked individual wearing gloves approaching the front door with what appears to be a handgun in a holster and carrying a large backpack. Meantime, the AP reports the FBI and Pima County Sheriff's Department were conducting a court-authorized search at a location in Rio Rico, Arizona, in connection with the investigation.
2) At least 10 people are dead and 25 injured after a mass shooting in northeastern British Columbia, according to the police. After a report of an active shooter at Tumbler Ridge Secondary School at 1:20 p.m. local time, responders found six people dead in the school, as well as the suspected perpetrator, who appears to have died from a self-inflicted injury, the Royal Canadian Mounted Police said in a statement. Three victims were airlifted to hospital with serious injuries, but one died in transit. Police said they also identified a residence that they believed to be connected to the incident, where they found another two people dead. Investigators are now searching additional properties to determine the scope of the tragic event, which appears to rank as one of the deadliest mass shootings in Canadian history.
3) House lawmakers are set to vote Wednesday on whether to reject some of President Trump’s tariff policies, ahead of a midterm election focused heavily on anxiety over the US cost of living. The votes on the measures — starting with a resolution opposing the president’s tariffs on Canada — are set to come after lawmakers on Tuesday night rejected a last-ditch effort from House Speaker Mike Johnson to prevent them. Johnson, one of Trump’s chief allies in Congress, has led a legislative blockade for months to insulate the tariffs, pushing procedural rules that effectively prevented his chamber from ending the president’s sweeping tariff authority. A fresh Johnson-backed measure would have extended that ban through the end of July.

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Memory Chip Squeeze Widens Gap; Alphabet's Global Debt Binge

Tue, 10 Feb 2026 10:29:22 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The relentless surge in memory chip prices over the past few months has driven a vast divide between winners and losers in the stock market, and investors don’t see any end in sight. Companies from game console maker Nintendo Co. to big PC brands and Apple Inc. suppliers are seeing shares slump on profitability concerns. Memory producers, meanwhile, are soaring to unprecedented heights. Money managers and analysts are now assessing which firms can best navigate the squeeze by locking in supplies, raising product prices or redesigning to use less memory. A Bloomberg gauge of global consumer electronics makers is down 10% since the end of September while a basket of memory makers including Samsung Electronics Co. has surged roughly 160%. The question now is how much is priced in.
2) Alphabet Inc. is selling sterling and Swiss franc-denominated bonds for the first time, including an ultra-rare issue of a 100-year note, following a bumper $20 billion deal in the US. Google’s parent company is offering five tranches each of sterling and Swiss franc notes, according to people familiar with the matter, who asked not to be identified. The 100-year sterling bond is the first sale of such long-dated debt by a technology firm since the dot-com era. The sterling issue includes tenors of three to 32 years as well as the 100 year bond. The Swiss franc deal includes maturities of three, six, 10, 15 and 25-year bonds. Both deals are expected to price later today, the people said.
3) President Trump said his pick to lead the Federal Reserve can stoke the economy to grow at a rate of 15%, an exceedingly rosy target that nonetheless underscores the pressure that Kevin Warsh will face if confirmed to the role. Trump, speaking in an interview with Fox Business, said Warsh was the “runner up” in his last search and that it was a big mistake to pick Fed chair Jerome Powell. It was not fully clear if Trump was referring to year-over-year growth or some other metric. The US economy, which is seen expanding 2.4% this year, has grown at an average annual rate of 2.8% over the past five decades. Gross domestic product has only risen at a 15%-plus pace a few times since the 1950s, including in the third quarter of 2020 as businesses reopened following pandemic-related closures.

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Seahawks Win Super Bowl; China to Curb US Treasury Exposure

Mon, 09 Feb 2026 10:32:24 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The Seattle Seahawks won their second Super Bowl title on Sunday, beating the New England Patriots by a score of 29-to-13 at Super Bowl LX at Levi's Stadium in Santa Clara, CA. The Seahawks' defense came out strong, recording six sacks and forcing two interceptions against Patriots quarterback Drake Maye. Seahawks RB Kenneth Walker III was named Super Bowl MVP for his offensive efforts, becoming the first running back to win the award since the Denver Broncos' Terrell Davis in 1998.
2) Chinese regulators have advised financial institutions to rein in their holdings of US Treasuries, citing concerns over concentration risks and market volatility, according to people familiar with the matter. Officials urged banks to limit purchases of US government bonds and instructed those with high exposure to pare down their positions, the people said, asking not to be identified discussing private deliberations. The directive doesn’t apply to China’s state holdings of US Treasuries. Communicated verbally to some of the nation’s biggest banks in recent weeks, the guidance reflects growing wariness among officials that large holdings of US government debt may expose banks to sharp swings, the people said. The worries echo those made by governments and fund managers elsewhere amid a brewing debate over the safe haven status of US debt and the appeal of the dollar.
3) Japanese Prime Minister Sanae Takaichi secured a historic election triumph, positioning her as the nation’s strongest leader in the postwar era in an outcome that sent stock prices and bond yields soaring. Her ruling Liberal Democratic Party achieved the biggest post-war victory for a single-party in a general election in Japan, an extraordinary transformation of fortunes for a party that was on the ropes last summer before getting behind the nation’s first ever female premier in October. The LDP secured a two-thirds super majority in the 465-seat lower house by itself, according to public broadcaster NHK. A tally of results by NHK early Monday showed that the ruling coalition had won 352 seats in the lower house, expanding its previous razor-thin majority of 233 by a considerable margin. The LDP’s haul of 316 seats gives it a higher proportion of representatives in the lower house than any other party in post-war Japan.

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Daybreak Weekend: US Eco, International Energy Week, Softbank Earnings

Fri, 06 Feb 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to S jobs and CPI data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to International Energy Week in London.
In Asia – a look ahead to Softbank Earnings.

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Amazon Selloff on Massive Spend; Bitcoin Traders Buy Dip

Fri, 06 Feb 2026 10:37:55 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) Amazon.com shares tumbled in premarket trading on Friday after the e-commerce and cloud-computing company’s $200 billion annual capex forecast is much higher than expected, underlining concerns about how much big tech companies are spending on AI-related investments and when they will pay off. The company reported spending roughly $130 billion on property and equipment in 2025. Analysts anticipated those expenses would reach about $150 billion this year. Chief Executive Officer Andy Jassy said the money “predominantly” would go toward the company’s Amazon Web Services cloud unit, and most of that spending would be for AI workloads.
2) Bitcoin whipsawed in a volatile trading session after a selloff that briefly dragged the token to a more than 50% retreat from its October peak. The original cryptocurrency rose as much as 5.8% on Friday and traded around $64,800 at 9 a.m. in London. Earlier in the session, it came close to falling below $60,000 for the first time since October 2024. Cryptocurrencies have been on shaky ground ever since a brutal series of liquidations in October that sapped market confidence. The selling picked up steam this week in line with the unwinding of leveraged bets and broader market turbulence.
3) President Trump called for the creation of a new nuclear arms treaty with Russia, as the existing New START agreement between the two nations expires and fuels concern about the possibility of a new arms race. The pact — formally known as the New Strategic Arms Reduction Treaty — built on efforts to reduce the nuclear weapons arsenals amassed during the Cold War. The deal expired on Thursday, raising the possibility that the US and Russia could potentially pursue new nuclear weapons unhindered by any diplomatic agreement while geopolitical tensions between Washington and Moscow rise.

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Trump Orders Minneapolis Pullback; US-Iran Talks Set for Friday

Thu, 05 Feb 2026 10:30:45 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The Department of Homeland Security will immediately pull 700 officers from Minneapolis, a reduction of about a quarter, amid efforts to deescalate tensions after federal agents killed two US citizens. White House border czar Tom Homan, who President Trump sent to Minneapolis as part of an effort to ease pressure amid local outrage, emphasized a shift to more targeted enforcement after a surge of immigration agents sparked widespread protests. Homan also said cooperation with local authorities to detain immigrants with criminal records had improved. About 2,000 federal immigration agents will remain, down from the peak of the operation but still much higher than the roughly 150 officers that would be normal, Homan told reporters Wednesday.
2) President Trump sent a fresh warning to Iran’s leaders as US military forces amass in the region, even as diplomatic talks between Washington and Tehran were set for later this week. “I would say he should be very worried, yeah. He should be,” Trump said in an interview with NBC News on Wednesday, when asked about Iran’s supreme leader. Iranian Foreign Minister Abbas Araghchi said in a social media post Wednesday that talks with the US were scheduled to be held in Muscat, Oman on Friday morning. The US and Iran still plan to meet in Oman on Friday to discuss a nuclear deal, according to a White House official.
3) President Trump said he would have passed on Kevin Warsh as his nominee to lead the Federal Reserve if Warsh had expressed a desire to hike interest rates. The president said there was “not much” doubt the Fed would lower rates because “we’re way high in interest” but now “we’re a rich country again.” Trump’s comments could come up during Warsh’s confirmation process, where the Fed’s independence will likely be a central topic. Trump said he believed “in theory” that the central bank was an independent body, while saying he was a “smart guy” whose economic predictions should be considered. Republican Senator Thom Tillis, a member of the Banking Committee, has pledged to block any of Trump’s nominees to the institution until the Justice Department ends an investigation into the central bank’s renovation.

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Government Shutdown Ends; New Iran Negotiations

Wed, 04 Feb 2026 10:32:11 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The partial US government shutdown ended late Tuesday after President Trump signed into law a funding deal he negotiated with Senate Democrats, overcoming opposition from both ends of the political spectrum amid a standoff over his administration’s immigration crackdown. Trump applauded the funding package as “a great victory for the American people” and stressed that the legislation continues to fund deportation flights, which have provoked backlash from Democrats. Still, a more limited funding lapse looms within days since the Department of Homeland Security is only funded through Feb. 13 while Trump negotiates with Democrats over their demands for new restraints on immigration enforcement agents. The rest of the government is funded through the Sept. 30 end of the fiscal year.
2) Iran has asked the US to move diplomatic talks originally planned for Turkey to Oman and to limit the agenda to the Islamic Republic’s nuclear program, according to people familiar with the matter. President Trump reiterated that the US and Iran are maintaining talks, even after an earlier skirmish in the Arabian Sea spooked oil markets amid heightened tensions between the two countries. “We are negotiating with them right now” and “they’d like to do something,” Trump told reporters at the White House Tuesday. Earlier Tuesday, a US F-35C warplane shot down a drone in self-defense as the unmanned aircraft “aggressively approached” the USS Abraham Lincoln with “unclear intent,” US Central Command said in a statement. CentCom said no American service members were harmed and no US equipment was damaged.
3) Former President Bill Clinton and his wife, former Secretary of State Hillary Clinton, will appear before a House committee investigating their ties to disgraced financier Jeffrey Epstein on Feb. 26 and 27, the panel confirmed Tuesday. A full House vote had been planned this week to hold the Clintons in criminal contempt if they continued to defy subpoenas in its inquiry into Epstein and his activities. The Clintons “have agreed to appear for transcribed, filmed depositions to face questioning as part of the investigation related to Jeffrey Epstein’s and Ghislaine Maxwell’s crimes,” the committee said in a statement posted on its website.

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Trump Lobbies for Shutdown Deal; Clintons to Testify in Epstein Inquiry

Tue, 03 Feb 2026 10:35:22 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) Republican opposition to President Trump’s deal with Democrats to end the partial US government shutdown began to crumble late Monday despite the ongoing a standoff over the administration’s immigration crackdown. Trump implored House Republicans in a social media post to pass the spending measure immediately and with no changes. Soon after, two conservative holdouts — Anna Paulina Luna of Florida and Tim Burchett of Tennessee — said they agreed after a talk with the White House to end their threatened blockade, clearing the way to a Tuesday vote on the bipartisan agreement. House Speaker Mike Johnson had faced a tricky path to clear a Senate-passed spending package — the product of a negotiation between Trump and Senate Democratic leader Chuck Schumer. That measure would fund most agencies through Sept. 30, and the Department of Homeland Security through Feb. 13, preserving funding for immigration raids while both parties negotiate changes to enforcement policies.
2) President Trump said he’s seeking $1 billion in “damages” from Harvard University after the New York Times reported that his administration had backed off demands for $200 million to satisfy accusations of wrongdoing by the Ivy League institution. Trump didn’t specify under what authority he would seek the $1 billion. Harvard didn’t immediately respond to a request for comment. In an article earlier Monday, the Times reported that administration officials had dropped their demands for the $200 million “amid sagging approval ratings for Mr. Trump, and as he faces outrage over immigration enforcement tactics and the shooting deaths of two Americans by federal agents in Minnesota.”
3) Former President Bill Clinton and his wife, former Secretary of State Hillary Clinton, will appear before a congressional committee investigating the disgraced financier Jeffrey Epstein, their lawyers said Monday. A full House vote had been planned this week to hold the Clintons in criminal contempt if they continued to defy subpoenas in its inquiry into Epstein and his activities. Bill Clinton has previously said that he parted ways with Epstein many years before his death in a New York jail cell in 2019, and that he had no knowledge of his crimes.

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House To Vote on Shutdown Deal; Gold Plunge Deepens as Traders Unwind Bets

Mon, 02 Feb 2026 10:37:47 +0000

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US government stumbled into a partial shutdown Saturday while waiting for the House to approve a funding deal President Trump worked out with Democrats following a national uproar over Border Patrol agents’ killing of a US citizen in Minneapolis. The funding lapse is likely to be short, with the House returning from a week-long break on Monday and the Republican president fully supporting the spending package. Many Americans may not even notice since most federal employees working on weekends, such as military personnel and air traffic controllers, are deemed essential and aren’t furloughed in a shutdown.
2) The Justice Department’s latest release of material related to its investigations into Jeffrey Epstein offers fresh details about the rich and well-connected people who circulated in the orbit of the late disgraced financier. Officials said Friday they were releasing some 3 million pages of material, including more than 2,000 videos and 180,000 images.
3) Gold extended losses, after its biggest plunge in more than a decade on Friday, while silver’s year-to-date gains were wiped out as a record-breaking precious-metals rally unwound at breakneck speed. Spot gold fell as much as 10% on Monday and is now down almost a fifth from an all-time high reached in the last-but-one session. Silver slumped as much as 16%, following on from an intraday loss on Friday that was the steepest on record.

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Daybreak Weekend: US Jobs, Winter Olympics, Japan Election

Fri, 30 Jan 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the January jobs report and U.S tech earnings.
In the UK – a look ahead to the 2026 winter Olympic games.
In Asia – a look ahead to Japan’s snap election and a monetary policy decision from the Reserve Bank of Australia.

- Michael McKee, Bloomberg International Economics and Policy Correspondent, to preview the January jobs report in the U.S.
- Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, to preview U.S tech earnings.
- Tommaso Ebhart, Bloomberg’s Milan Bureau Chief, to preview 2026 olympic games.
- Paul Jackson, Bloomberg EcoGov Editor for Japan/Koreas, to preview snap Japan election.
- James McIntyre, Bloomberg Economist for Australia and New Zealand, to preview RBA decision.

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Instant Reaction: Trump Nominates Warsh for Fed Chair

Fri, 30 Jan 2026 12:21:14 +0000

Breaking news from the White House.

President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve, according to a post on his Truth Social platform.

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote. “On top of everything else, he is ‘central casting,’ and he will never let you down.”

Warsh, who served on the US central bank’s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May. It marks a comeback for Warsh, 55, whom the president passed over for the top job in 2017 when he selected Powell.

If confirmed by the Senate, the former Fed governor will take charge of US monetary policy at a time when many economists and investors see its traditional insulation from elected officials as being under threat from the White House. Warsh aligned himself with the president in 2025 by arguing publicly for lower interest rates, going against his longstanding reputation as an inflation hawk.

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Trump Administration Prepares for Warsh Fed Chair Nod; Government Shutdown Averted

Fri, 30 Jan 2026 10:57:27 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The Trump administration is preparing for the president to nominate Kevin Warsh to be the next Federal Reserve chair, according to people familiar with the matter. President Trump said Thursday he plans to announce his pick to lead the US central bank on Friday morning. The people, who requested anonymity to discuss matters not yet public, cautioned that the selection is not final until Trump makes a formal announcement. The White House and Warsh did not immediately respond to requests for comment. Warsh, a former Fed governor and one of the four finalists on Trump’s shortlist to be the next central bank leader, visited the White House on Thursday, one person said.
2) President Trump and Senate Democrats have reached a tentative deal to avert a disruptive US government shutdown as the White House continues to negotiate with the Democrats on placing new limits on immigration raids that have provoked a national outcry. Trump announced that an agreement had been reached and urged both parties to vote for it. However, lawmakers are almost certain to fail to enact the measure before a Friday night deadline. While a short funding lapse and partial government shutdown is now seen as the most likely scenario, the effect on federal operations would be minimal if it’s swiftly resolved within a couple days.
3) The Trump administration is seeking to scale down the number of federal officers in Minneapolis after the killing of two US citizens during immigration raids sparked a nationwide uproar and weeks of protests. Tom Homan, the administration’s “border czar,” said Thursday at a press conference in Minneapolis that officials from Customs and Border Protection and Immigration and Customs Enforcement are working on a “draw down plan” that hinges on cooperation from local, state and federal officials.

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Tech Firms Unleash AI Spending Spree; Fed Holds Rates Steady

Thu, 29 Jan 2026 10:36:35 +0000

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The world’s largest tech firms show no signs of easing up on AI spending, a record wave that’s propelling hardware providers like Samsung Electronics Co. and SK Hynix Inc. That’s even as doubts persist about the staying power of artificial intelligence demand to justify all that capital. Meta Platforms Inc. alone revealed ambitions to spend as much as $135 billion this year — one of the biggest planned outlays of the business sphere. Meta, Microsoft and fellow hyperscalers such as Amazon.com Inc. and Alphabet Inc., are driving a wave of global spending on chips, servers and computers that’s firing up hardware suppliers around the world, particularly in Asia. A procession of industry linchpins’s results this week further underscored how voracious the appetite for AI hardware has grown — and how that’s likely to extend well into 2026.
2) Tesla Inc. has planned $20 billion of spending this year to streamline its electric-vehicle lineup and shift resources toward robotics and AI, part of a sweeping set of changes pushing the company further from its roots as an automobile manufacturer. The capital expenditure plans laid out Wednesday – roughly twice as much as Wall Street was expecting – will support production expansion at multiple factories, scaling up the nascent robotaxi business and building out AI infrastructure. Tesla also revealed plans to discontinue the Model S and X vehicles and devote that plant capacity to building Optimus humanoid robots.
3) Jerome Powell has two more opportunities to adjust interest rates before his term as Federal Reserve chair ends — and he may not need them. After the Fed kept borrowing costs on hold Wednesday, Powell talked up a “clear improvement” in the US outlook and said the job market shows signs of steadying. It signals a cautious optimism: Fed officials delivered three cuts last fall, and see nothing in the latest data to suggest more are needed to prop up the economy. Futures markets expect no shift in rates before June. By then, Powell’s term as chair will have ended and a new one should be in place — likely opening another phase of President Trump’s campaign for lower rates, which has upended the Fed over the past year. In a potential sign of what’s coming, the only two officials who voted for another cut this week were Governor Stephen Miran — on leave at the Fed from his post as a top Trump aide — and Governor Christopher Waller, one of four names on Trump’s shortlist of potential Powell successors.

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Trump Seeks Minnesota De-Escalation; Fed Officials Near ‘Kumbaya’ Moment on Rates

Wed, 28 Jan 2026 10:34:23 +0000

On today's podcast:
1) President Trump said he was looking to “de-escalate” in Minnesota with a reshuffle of the leadership running his deportation effort in the state following widespread outcry over the killing of two US citizens by federal agents. Still, the president denied he was pulling back his immigration crackdown and said that Homeland Security Secretary Kristi Noem would remain in her post, as he looked to signal a recalibration rather than a retreat in the aftermath of the Jan. 24 fatal shooting of 37-year-old intensive care nurse Alex Pretti by a Border Patrol agent during an enforcement operation. Meantime, US Representative Ilhan Omar was charged at by a man who appeared to squirt an unknown liquid on her during a town hall gathering in Minneapolis, as she called for consequences for the federal officials overseeing President Trump’s aggressive immigration policies.
2) President Trump’s relaxed tone about the dollar selloff is fueling speculation the US currency is at the start of a longer-term decline. The dollar suffered its deepest one-day drop since last year’s tariff rollout after Trump said on Tuesday he didn’t think the currency had weakened excessively. Bloomberg’s dollar gauge slid as much as 1.2% as the comments sapped the appeal of the greenback and US Treasuries — boosting what has become known as the debasement trade. The dollar’s recent decline is great for US businesses, Trump told reporters in Iowa. While that’s in line with previous commentary from US officials, his remarks moved currency markets late Tuesday, partly because they appeared to validate the steep decline in the greenback in recent sessions.
3) Federal Reserve Chair Jerome Powell may try to direct attention back to the economy this week, with the US central bank widely expected to hold interest rates steady after three straight reductions. But Powell’s first press conference since the Fed was served grand jury subpoenas — and coming days after the Supreme Court heard arguments regarding the attempted removal of another Fed governor — is bound to include questions about political pressure, central bank independence and what the Fed chief plans to do after his term as chair ends in May. A decision to hold rates steady this month is likely to garner broad support from policymakers following a series of contentious cuts. While the majority of officials agreed in those instances to backstop a weakening labor market, another group of policymakers pushed for the focus to remain on elevated inflation.

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Minnesota Backlash Spurs Policy Shift; Trump Vows to Raise Tariffs to 25% on South Korean Goods

Tue, 27 Jan 2026 10:40:23 +0000

On today's podcast:
1) President Trump indicated he’ll make changes to his administration’s deportation crackdown in Minnesota after the killing of two US citizens during immigration raids sparked nationwide uproar. The president said he was sending US border czar Tom Homan — who is seen as relatively measured compared to rivals, including Homeland Security Secretary Kristi Noem — to Minneapolis in a bid to deescalate tensions. Trump also spoke with top Democratic officials in the state. He told Governor Tim Walz, who he has derided as “grossly incompetent,” that he would consider independent investigations into the shootings and reducing the number of federal agents in his state. The president described a subsequent conversation with Jacob Frey as “very good” and said Homan planned to meet with the Minneapolis mayor on Tuesday “in order to continue the discussion.”
2) Prime Minister Keir Starmer said the UK wouldn’t have to choose between the US and China, as he heralded “significant opportunities” for British businesses ahead of his trip to Beijing this week. In an interview with Bloomberg on Monday, Starmer dismissed questions about whether he was seeking stronger ties with China at the expense of the UK’s relationship with its closest allies. Starmer’s trip to China — the first by a British prime minister in eight years — comes on the heels of a similar delegation by Canadian counterpart Mark Carney that drew fresh tariff threats from President Trump.
3) President Trump threatened to hike tariffs on goods imported from South Korea to 25%, citing what he said was the failure of the country’s legislature to codify the trade deal the two nations reached last year. Trump in a social media post on Monday said the new rate would apply to autos, lumber, pharmaceutical products and “all other Reciprocal TARIFFS.” Under the existing agreement, the president set a 15% levy on South Korean exports. If implemented, the move could have wide-ranging effects on major South Korean companies that export to the US, such as Hyundai Motor Co., which sent 1.1 million vehicles to America in 2024.

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Winter Storm Pummels East Coast; Dems Threaten Shutdown After Latest Minneapolis Killing

Mon, 26 Jan 2026 10:48:53 +0000

On today's podcast:
1) US power grids are expected to grapple with unprecedented seasonal demand and the threat of blackouts after a damaging winter storm coated parts of the South and Mid-Atlantic in ice — leaving brutal cold in its wake. More than 800,000 homes and businesses nationwide are currently without electricity as snow and ice wreak havoc on local distribution lines. Grids so far have avoided larger system-level cuts, but frigid wind chills will likely persist all week, testing seasonal power-demand records from New England to Texas. In the New York metropolitan area, commuter lines run by the Metropolitan Transportation Authority will be operating with modified schedules on Monday, while at least one private bus operator, Boxcar, used by New Jersey workers, suspended its service because of the inclement weather.
2) Senate Democratic leader Chuck Schumer vowed to block a massive spending package next week unless Republicans strip funding for the Department of Homeland Security, dramatically increasing the risk for a partial US government shutdown. Schumer’s announcement came on the same day that a Border Patrol agent shot and killed an American intensive care unit nurse in Minnesota during protests over the immigration crackdown in that state. The man was identified by state and local officials as Alex Pretti. Democratic opposition to the funding package potentially affects not just Homeland Security but also the departments of Defense, Labor, Education, State, Treasury and Health and Human Services. The effects would be widespread, including possibly delaying the next Bureau of Labor Statistics report.
3) President Trump threatened Canada with 100% tariffs against all its exports to the US if it makes a trade deal with China, escalating tensions between the US and its northern neighbor. Trump, referring to Prime Minister Mark Carney as “Governor Carney,” said the Canadian leader was “sorely mistaken” for opening up his country to more business from China, including a recent deal allowing an increase in Chinese electric vehicle exports. Trump and key administration officials have denounced that bilateral agreement and warned of potential consequences, including an additional levy for Canadian goods, portending a difficult renegotiation for the US-Mexico-Canada free trade agreement scheduled in the summer.

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Daybreak Weekend: US Tech, UK PM Visits China, Apple Earnings

Fri, 23 Jan 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Tesla and some of the biggest names in tech.
In the UK – a look ahead to the UK Prime Minister’s visit to China.
In Asia – a look ahead to Apple’s earnings and why business in Asia is a key focal point.

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Powerful Winter Storm Threatens East Coast; Russia Sees No Breakthrough After Ukraine Talks

Fri, 23 Jan 2026 10:36:35 +0000

On today's podcast:
1) New York City is poised to get pummeled with more than a foot of snow this weekend, a test for new Mayor Zohran Mamdani, as a massive weather system lands on the region threatening power outages, airline delays and transit system problems. New York’s Central Park may get dumped with as much as 16 inches (41 centimeters) of snow starting Sunday morning, the heaviest of the season. That comes as the storm that will hit Southern states with ice moves into the Northeast, said Brian Hurley, a senior branch forecaster with the US Weather Prediction Center. Washington, Philadelphia and Boston are also expected to see snowfall. If the forecast holds, it would be the biggest snowstorm to hit Manhattan since 2021, based on snowfall records at Central Park.
2) The US wants to rewrite its defense agreement with Denmark to remove any limits on its military presence in Greenland, people familiar with the matter said, in what’s become a focal point for negotiators looking to meet President Trump’s demand for control over the territory. The original agreement, signed in 1951 and amended in 2004, says the US must “consult with and inform” Denmark and Greenland before it makes “any significant changes to United States military operations or facilities in Greenland.” The people familiar with the matter, who asked not to be identified discussing private deliberations, said American negotiators want to rework that language to make sure the US faces no restrictions at all as it makes its plans.
3) The Kremlin said the “territorial issue” remains unresolved after President Vladimir Putin held late-night talks with US envoys Steve Witkoff and Jared Kushner on the latest peace plan for ending Russia’s war on Ukraine. There’s “no hope of achieving a long-term settlement” to the war until Russia’s demands for territory in Ukraine are accepted, Putin’s foreign policy aide, Yuri Ushakov, said in an audio recording on Telegram early Friday. That’s even as he characterized the almost four hours of negotiations in the Kremlin as “exceptionally substantive, constructive.” Talks will continue between US, Russian and Ukrainian representatives in the United Arab Emirates on Friday and Saturday. Separately, Witkoff and Putin’s envoy, Kirill Dmitriev, will discuss bilateral Russia-US economic matters in Abu Dhabi.

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Trump Drops Tariff Threat After ‘Framework’ Greenland Deal; Supreme Court Appears Wary of Bid to Fire Fed’s Cook

Thu, 22 Jan 2026 10:51:17 +0000

On today's podcast:
1) President Trump said he would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, citing a “framework of a future deal” he said was reached regarding the island. The decision, which Trump announced Wednesday on social media, marks a stark reversal for a president who has repeatedly attempted to coerce Europe over Greenland. It came after a meeting with North Atlantic Treaty Organization Secretary General Mark Rutte at the World Economic Forum in Davos, Switzerland. Still, Trump did not detail the parameters of the so-called “framework” and it was unclear what the agreement entails, especially since Denmark earlier Wednesday ruled out negotiations over ceding the semi-autonomous island to the US.
2) Russia’s President Vladimir Putin said he is ready to commit Russian assets that remain frozen in the US to rebuild Ukrainian regions damaged during the war after a peace treaty is concluded. Putin also said he could give $1 billion from the US-based assets - frozen to punish Putin for his 2022 full-scale invasion of Ukraine - to President Trump’s proposed Board of Peace. The offer has been discussed with the US, Putin said, and he plans to talk about it more Thursday during a meeting with Trump envoys Steve Witkoff and Jared Kushner in Moscow.
3) US Supreme Court justices suggested they are wary of President Trump’s effort to fire Federal Reserve Governor Lisa Cook over unproven mortgage-fraud allegations, saying the move could upend the Fed’s independence and rattle markets. Hearing arguments in Washington Wednesday, conservative and liberal justices alike sharply questioned US Solicitor General D. John Sauer, who urged the court to let Trump oust Cook for the time being while her lawsuit goes forward. Trump’s own appointees were among the skeptics. Justice Brett Kavanaugh said the president’s position would “weaken if not shatter the independence of the Federal Reserve.” Justice Amy Coney Barrett asked whether the risk to financial markets was reason for “caution on our part,” though she also suggested she wasn’t ready to fully embrace Cook’s position.

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Davos Braces for Trump's Arrival; Bessent Cautions Allies Over Military Missions in Greenland

Wed, 21 Jan 2026 10:52:25 +0000

On today's podcast:
1) President Trump expressed confidence that the European Union would continue to invest in the US even if he imposed new tariffs related to his quest to take control of Greenland, a proposal that has angered leaders on the continent. The president’s rare appearance in the White House briefing room came ahead of his departure Tuesday night from Washington for the World Economic Forum in Davos, Switzerland, where he will confront European leaders who are furious over his bid to take over the territory of a fellow NATO ally, Denmark. Earlier Tuesday, European Commission President Ursula von der Leyen said that Trump’s threats were a “mistake” that would violate the deal he forged last year with the bloc. Officials in Europe have begun drafting plans to retaliate, which could set off a tit-for-tat that may scuttle the accord.
2) Treasury Secretary Scott Bessent cautioned European nations against ramping up their military presence on Greenland and assailed France over calls to conduct a NATO exercise as European leaders brace for President Trump’s arrival at Davos. Bessent questioned the message European allies were sending following the recent decision by Denmark and seven other NATO countries to deploy a handful of officers to the island, which Trump has said he wants to make a part of the US.
3) Months after President Trump attempted to fire Federal Reserve Governor Lisa Cook over unproven mortgage fraud allegations, the case will get a hearing before the Supreme Court. The justices are scheduled to consider whether Trump can oust Cook while the legal fight over the allegations proceeds. The case is one element in an effort by Trump to exert more control over the Fed and pressure officials to significantly cut interest rates. Trump has repeatedly attacked Fed Chair Jerome Powell, who has resisted the president’s demands to resign.

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Greenland Talks Loom Over Davos; Bessent Says Fed Pick Could Come as Soon as Next Week

Tue, 20 Jan 2026 10:38:06 +0000

On today's podcast:
1) President Trump said he will meet with several parties over his ambition to take control of Greenland during the upcoming World Economic Forum. Trump said in a Truth Social post early Tuesday morning that he had a “very good telephone call” with Mark Rutte, the secretary general of NATO, concerning the Danish territory. The remarks came shortly after he restated his desire to take over Greenland, which has spooked NATO allies and prompted stern opposition from EU leaders including French President Emmanuel Macron. Meantime, Trump announced a 10% tariff on goods from European countries rallying to Denmark’s side in his pursuit of Greenland, a dramatic escalation in the standoff that sparked strong pushback from some of the US’s closest allies.
2) President Trump’s so-called Board of Peace for Gaza is beginning to take shape, even as Israel voiced rare objections to parts of the US president’s plan to build on the fragile ceasefire in the region. China has been offered to join the proposed Board of Peace, as Trump heads to Davos to advance his plan for the Palestinian enclave. The US president has invited a range of world leaders, including Russia’s Vladimir Putin and Turkey’s Recep Tayyip Erdogan, to become founding members of the board. It’s part of his 20-point plan to ensure a lasting peace and reconstruction of Gaza, following two years of devastating war between Israel and militant group Hamas in the Palestinian territory. President Trump also confirmed that he invited Russian President Vladimir Putin to join the proposed board.
3) Treasury Secretary Scott Bessent said President Trump could announce his pick for the next Federal Reserve chair as soon as next week, amid intense anticipation over the White House’s search for a new central-bank chief. “We have four fantastic candidates — it will be up to the president, and I would imagine that he will have an announcement maybe as early as next week,” Bessent said in remarks at a press conference Tuesday at Davos, where he is attending the World Economic Forum. The process of picking a successor to current Chair Jerome Powell is seen as a four-person race, with BlackRock Inc.’s Rick Rieder, National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller and former governor Kevin Warsh as the final contenders after a long-search that has been led by Bessent.

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Daybreak Holiday: Stock Market Records, Fed Independence, The Future of DEI

Mon, 19 Jan 2026 09:00:00 +0000

On this special MLK Holiday edition of Bloomberg Daybreak, host Nathan Hager discusses:

Stocks are coming off three straight years of double digit gains..What will 2026 hold? We hear from Cameron Dawson, the Chief Investment Officer at NewEdge Wealth and Lori Calvasina, head of US equity strategy, RBC Capital Markets
Lost in the recent controversy over the investigation into Jay Powell and the Fed...Is monetary policy. Next week the central bank makes its first rate decision of the year. For more, we speak with Bloomberg International Economics and Policy Correspondent Michael McKee and Anna Wong, Chief US Economist for Bloomberg Economics
We also look at the current status of Diversity Equity and Inclusion initiatives. For that we speak wit Bloomberg's Equality Reporter Jeff Green and Bloomberg reporter Heather Landy.

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Daybreak Weekend: Netflix Earnings, Davos Preview, China Data

Fri, 16 Jan 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Netflix and Intel.
In the UK – a look ahead to the World Economic Forum in Davos, Switzerland.
In Asia – a look ahead to China GDP data.

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Venezuela’s Machado Gives Trump Nobel Medal; Greenland Seeks Support Against Takeover Bid

Fri, 16 Jan 2026 11:01:10 +0000

On today's podcast:
1) President Trump accepted Venezuelan opposition leader Maria Corina Machado’s Nobel Peace Prize medal at a White House meeting on Thursday as she tries to get back in his good graces while the future of her country is being shaped by the US. Trump, in a social media post hours later, called it a “great honor” to meet Machado, and described her as a “wonderful woman who has been through so much.” Machado, who has been shut out of Venezuela’s leadership transition since US forces ousted President Nicolas Maduro on Jan. 3, said she gave Trump the medal as “a recognition of his unique commitment with our freedom.”
2) Denmark and Greenland are stepping up lobbying of US lawmakers in an effort to head off President Trump’s push to take control of Greenland. A group of US senators is set to meet members of the Danish parliament in Copenhagen on Friday. The trip follows a week of meetings in Washington by Danish Foreign Minister Lars Lokke Rasmussen with members of Congress on the heels of talks with Vice President JD Vance and Secretary of State Marco Rubio. Greenland’s foreign minister, Vivian Motzfeldt, also participated. High-level talks between Denmark, Greenland and the US earlier this week ended in a stalemate over the future of the world’s largest island, though officials agreed to set up a working group to manage the diplomatic dispute. Trump has repeatedly insisted the US needs to control the territory, an ambition that remains unresolved and has been rejected time and again by both Copenhagen and Nuuk.
3) President Trump threatened to deploy US military forces to Minnesota in order to quell protests in response to violent encounters involving federal immigration agents. The 1807 law allows the president to use regular military troops on US soil for domestic law enforcement. It was last invoked during the 1992 riots in Los Angeles. Trump’s ultimatum could further fray tensions in Minneapolis, where on Wednesday a federal officer shot a man in the leg. The incident occurred one week after the fatal shooting of a local woman who was a US citizen by an ICE agent, which touched off the demonstrations.

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Second ICE Shooting in Minneapolis as Protests Intensify; Denmark-US Rift Persists Over Greenland

Thu, 15 Jan 2026 10:42:10 +0000

On today's podcast:
1) Tensions in Minneapolis escalated again Wednesday night after a federal officer shot a man in the leg during an attempted arrest. Homeland Security says the Venezuelan man fled in a vehicle, crashed, and then struck an officer with a shovel as two others joined the struggle. City leaders condemned ICE’s presence, urging the agency to “leave the state immediately,” while Police Chief Brian O’Hara warned of growing unrest. The shooting occurred as tensions between protesters and immigration enforcement officers continued to flare in the city following the fatal shooting of 37-year-old Renee Good last week.
2) Denmark said a “fundamental disagreement” remained after a high-stakes meeting with the US over Greenland as several countries including Germany said they’d send military personnel to the Arctic island. Foreign ministers from Denmark and Greenland met with US Vice President JD Vance and Secretary of State Marco Rubio in Washington, agreeing to establish a working group that’s set to gather within weeks to plot the way forward, while the US refrained from backing down on its demands. On Thursday, Germany’s “exploration mission” will arrive in Nuuk as European nations begin to work out how to ensure security in the region.
3) President Trump faulted Ukraine’s leader Volodymyr Zelenskiy as the main obstacle to an agreement to end the war Russia launched against his country four years ago. Trump, in an interview with Reuters on Wednesday, described Russian President Vladimir Putin as “ready to make a deal,” Reuters reported. When pressed on what was impeding a deal, Trump replied, “Zelenskiy,” Reuters said. Trump has oscillated between blaming Ukraine and Russia for failing to reach an accord, which he had claimed during his 2024 presidential campaign could be easily resolved. The US has prepared further sanctions should Trump decide to act on Russia’s continued rejection of a peace deal. US and Ukrainian officials have said they’ve made significant progress on a 20-point plan to end the fighting, however Kyiv and Moscow remain at an impasse over a number of issues including territorial control of areas Russia claims that remain under Ukrainian control.

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Trump Defends DOJ's Powell Probe; Iran Death Toll Jumps

Wed, 14 Jan 2026 10:37:40 +0000

On today's podcast:
1) President Trump dismissed Jamie Dimon’s criticism over the Justice Department probe into the Federal Reserve, saying the JPMorgan Chase & Co. chief executive officer was “wrong” to suggest he was undermining the independence of the central bank. Earlier Tuesday, Dimon expressed concern about the investigation into Fed Chair Jerome Powell over the cost of the central bank’s headquarters renovation and his subsequent congressional testimony about the project. Trump said he would press ahead with plans to announce Powell’s replacement within “the next few weeks” despite the backlash to the probe, which has drawn criticism from Republican lawmakers — including a threat by Senator Thom Tillis, a retiring North Carolina Republican and swing vote on the Senate Banking Committee. Tillis has said he would block new nominations to the Fed until the matter is resolved.
2) More than 2,500 people have been killed in Iranian protests that have swept the nation, activist groups said, as Tehran continued its crackdown despite President Trump’s threat of action over mounting fatalities. The US-based Human Rights Activists News Agency reported 2,571 deaths as of Wednesday, up from about 500 at the start of the week and amid speculation the actual toll could be dramatically higher. On Tuesday, Trump urged Iranians to continue protests against the regime of Supreme Leader Ayatollah Ali Khamenei.
3) Top diplomats from Greenland and Denmark are gearing up for the test of a lifetime as they work to persuade the Trump administration to back off on its demands for the Arctic territory that threaten to break up the NATO defense alliance. Danish Foreign Minister Lars Lokke Rasmussen and his counterpart from Nuuk, Vivian Motzfeldt, will face US Vice President JD Vance and Secretary of State Marco Rubio at the White House on Wednesday, just hours after the island’s prime minister said that if made to choose, Greenland would opt for Denmark.

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Powell Probe Stirs GOP Concern; Trump Vows 25% Tariff on Iran's Trading Partners

Tue, 13 Jan 2026 10:54:17 +0000

On today's podcast:
1) President Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank. Senator Thom Tillis, a key Republican on the Banking Committee who isn’t running for reelection, vowed quickly Sunday night to oppose any Trump nominees to the Fed until the matter is resolved. Other Republican senators, including former Bridgewater Associates CEO Dave McCormick, offered more measured pushback on Monday. Tillis’s threat is a potential roadblock to Trump’s plans to bend the bank to his will. Opposition from Tillis would likely deadlock any Fed nominee on the Senate Banking Committee, which is divided 13-11 between the two parties. And under current Senate rules, it takes 60 votes to successfully discharge a contentious nomination from a committee and Democratic senators are highly unlikely to come to Trump’s aid.
2) Minnesota officials are suing over the “unprecedented surge” of US immigration authorities in the state, taking the Trump administration to court days after a federal agent shot and killed a Minneapolis woman. In a lawsuit filed Monday, the state accused the Department of Homeland Security and Secretary Kristi Noem of deploying thousands of officers in Minneapolis and Saint Paul out of a “desire to punish political opponents and score partisan points.” The state is arguing that the deployment unconstitutionally violates its sovereignty and is retaliation against its Democratic-elected leadership. Minnesota officials allege the administration’s policies — such as having officers wear masks — violate state laws and that agents are illegally using excessive force and making warrantless arrests of people they suspect aren’t authorized to be in the US.
3) President Trump said he is imposing a 25% tariff on goods from countries “doing business” with Iran, ratcheting up pressure on the government in Tehran that has been rocked by widespread protests. Trump posted on social media on Monday that the new duty would be “effective immediately,” without providing details about the scope or implementation of the charges. The action has the potential to disrupt major US trading relationships across the globe. Iran’s partners include not only neighboring states, but large economies including India, Turkey and China.

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Fed Served With DOJ Subpoenas; Iran Says Protests Quelled After Hundreds Reported Killed

Mon, 12 Jan 2026 10:57:34 +0000

On today's podcast:
1) Federal Reserve Chair Jerome Powell said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escalation of the Trump administration’s attacks on the institution. In a forceful written and video statement released Sunday evening, Powell said the action was related to his June congressional testimony on ongoing renovations of the Fed’s headquarters. But he said the move “should be seen in the broader context of the administration’s threats and ongoing pressure.” In an interview with NBC News on Sunday, President Trump denied having any knowledge of the DOJ’s investigation into the central bank.
2) Top diplomats from Denmark and Greenland will meet US Secretary of State Marco Rubio in Washington DC on Wednesday, TV2 reports. Denmark’s Foreign Minister Lars Lokke Rasmussen and his Greenlandic counterpart Vivian Motzfeldt are set to attend the meeting, the Danish broadcaster says, citing a calendar from the US Department of State, which also notes that changes to the schedule may occur. Denmark is banking on the meeting in Washington to defuse President Trump’s renewed push on Greenland and to help reset strained ties with the US over the strategic island.
3) Iran’s Foreign Minister said security forces have “full control” of the country after two weeks of ongoing upheaval, accusing Israel and the US of fomenting the nationwide protests in which hundreds of people have been killed. Abbas Araghchi repeated claims by the Iranian government that “rioters and terrorists” had killed police and civilians and destroyed public property using “daesh-style violence,” referring to the Arabic acronym for Islamic State. Protests in Iran erupted on December 28th after a sudden collapse in the value of the currency. More than 540 have been killed in the protests and over 10,000 arrested, according to the Human Rights Activist News Agency, which is tracking demonstrations in 186 cities across Iran’s 31 provinces.

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Daybreak Weekend: Bank Earnings, UK Property Market, China Trade

Fri, 09 Jan 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI data and bank earnings.
In the UK – a look at what to expect from the UK’s property market moving forward.
In Asia – a look ahead to China trade figures.

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Walz Clashes With Noem Over ICE Shooting Probe; Trump’s Tariffs Face Supreme Court Test

Fri, 09 Jan 2026 11:08:10 +0000

On today's podcast:
1) The investigation into the killing of a US citizen by an ICE agent in Minneapolis this week is being complicated by clashes between federal and local officials, with the FBI taking control over the objections of Governor Tim Walz. State authorities questioned whether a federal probe could be trusted, especially given comments by Trump administration officials that seemed to exonerate the officer. The Minnesota Bureau of Criminal Apprehension said that after it was invited to participate in the probe of Wednesday’s shooting, federal officials later decided the state wouldn’t get access to evidence or interviews. As tense protests continued for a second day, Walz said he ordered the state National Guard to be “staged and ready” to assist with protecting infrastructure and aiding local law enforcement if needed.
2) The fate of the majority of President Trump’s tariffs is in the hands of the US Supreme Court, which could rule as soon as today on the legality of the sweeping levies. Lower courts ruled in 2025 that the tariffs were issued illegally, but the import taxes remained in place to allow the Trump administration to make its case before the Supreme Court. At a hearing on November 5th, the justices appeared skeptical that Trump had the authority to unilaterally impose tariffs under a 1977 law that gives the president special powers during emergency situations. The tariffs in question include levies of between 10% and 50% on most imports, imposed by Trump using the International Emergency Economic Powers Act.
3) A band of House Republicans bucked party leaders to join Democrats in passing a measure to restore expired Obamacare subsidies through the end of President Trump’s term, as rising health care costs drive midterm election anxieties. The House voted 230-196 Thursday to send a three-year extension of the expired tax credits to the Senate. Seventeen Republicans supported the measure. The measure is unlikely to overcome Republican opposition in the Senate, but several of the Republican defectors said they hoped a strong showing in the House would increase pressure on the Senate to reach a bipartisan compromise.

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ICE Minneapolis Shooting Sparks Anger; US Seizes Two More Tankers in Venezuela Campaign

Thu, 08 Jan 2026 10:39:46 +0000

On today's podcast:
1) An Immigration and Customs Enforcement officer fatally shot a woman during a confrontation in Minneapolis, sparking an uproar over the presence of ICE agents in the city and heightening political divisions around the Trump administration’s migrant crackdown. The Wednesday shooting — caught on video and shared widely on social media — happened during what federal officials described as a targeted operation amid a broader immigration effort. President Trump and his allies cast it as an incident of self-defense, a view that the mayor of Minneapolis called a “garbage narrative.” The deadly incident fueled a national debate over Trump’s efforts to send heavily armed federal agents into US cities in his push for mass deportations, with operations ramping up last year from Chicago to Los Angeles.
2) US forces seized two more sanctioned oil tankers as part of its energy quarantine of Venezuela, signaling that the Trump administration will ratchet up its pressure campaign days after capturing President Nicolas Maduro. The first ship, the M/V Bella 1, was seized in the Atlantic south of Iceland after a chase that began weeks ago when the vessel evaded capture near Venezuela and registered under a Russian flag in a bid to protect itself. The Pentagon then announced the seizure of the M/T Sophia, another sanctioned vessel that officials said had been conducting illicit activities in the Caribbean Sea.
3) US officials are rushing to come up with options for business deals and other ways to step up links to Greenland, taken by surprise by President Trump’s renewed demand to take over the island, people familiar with the matter said. Trump has long wanted the territory for what he says are security reasons. But after a flurry of activity on the issue early last year, including a trip there by his vice president, once-urgent efforts to realize the president’s vision moved to the back burner, according to sources. On Tuesday, the White House said it wouldn’t rule out military action, while European leaders issued an unprecedented warning to dissuade Washington from trying to seize territory from a NATO ally.

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Trump Says Venezuela to Send Up to $2.8 BN of Oil; US Won’t Rule Out Military Force to Acquire Greenland

Wed, 07 Jan 2026 10:44:58 +0000

On today's podcast:
1) President Trump said Venezuela would relinquish as much as 50 million barrels of oil to the US, worth roughly $2.8 billion at the current market price, announcing the cargoes would be sold with proceeds benefiting both countries. The announcement late on Tuesday, which came with few details, marked a significant step up for the US government as it seeks to extend its economic influence in Venezuela and beyond after the capture of leader Nicolas Maduro over the weekend. It’s also a blow to China, previously the top buyer of the country’s oil and a close partner. The volumes cited by Trump would represent about 30 to 50 days of Venezuelan oil production before the US’s partial blockade of the country — much reduced from historic levels.
2) President Trump won’t rule out the use of military force to acquire Greenland, the White House said, escalating tension with Denmark, a fellow NATO member, over a dispute that’s surged back into public view following the ouster of Venezuelan strongman Nicolas Maduro. Trump is considering many ways of achieving his goal of acquiring the Arctic island, White House Press Secretary Karoline Leavitt said in a statement. Still, Secretary of State Marco Rubio downplayed the notion of military action in a briefing with lawmakers on Monday, instead signaling that an invasion was not imminent and that the goal was to buy the island from Denmark, the Wall Street Journal reported.
3) President Trump implored Republicans to turn around their political fortunes ahead of November’s midterm elections, warning that if Democrats retake control of Congress, he would be impeached for a third time. Trump offered a familiar blueprint for majority parties, which historically have lost seats in off-year elections: blaming their troubles on messaging problems and insisting that voters just aren’t seeing their achievements. Trump predicted the GOP would pull off an “epic” victory and defy those trends. Yet polls showing Americans’ dissatisfaction with his leadership and the state of the economy bode poorly for Republicans’ chances of keeping control of Congress.

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Maduro Pleads Not Guilty; Venezuela Regroups With New Leader

Tue, 06 Jan 2026 10:48:18 +0000

On today's podcast:
1) Ousted Venezuela President Nicolás Maduro pleaded not guilty on Monday to US charges in a narco-terrorism case against him, kicking off an extraordinary legal battle with major geopolitical ramifications. The US accused Maduro over the weekend of using his positions in government for a quarter of a century to enrich himself and help transport cocaine into the country. The toppling of Maduro reverberated around the world and signaled President Trump’s willingness to reconfigure the global order.
2) Venezuela’s government is reasserting itself after the capture of Nicolás Maduro, swearing in Delcy Rodríguez as acting president and flashing warning signs that a new wave of repression has begun. As the government continued to churn inside the presidential palace Miraflores, Venezuela’s military counterintelligence officials have been patrolling the streets of Caracas, according to at least two witnesses. At least seven journalists and members of the press were detained on Monday morning and early afternoon, most of them at the National Assembly and its surroundings, according to the national press workers syndicate.
3) President Trump suggested the US may subsidize efforts by energy companies to rebuild Venezuela’s oil industry as his administration seeks to convince firms to invest in the country days after ousting strongman Nicolás Maduro. Trump said the project to have US oil industry companies expand their operations in the country could be “up and running” in less than 18 months, in an interview Monday with NBC News — a timeframe starkly at odds with estimates from energy industry experts, while oil companies have been largely silent about their willingness to reinvest in Venezuela.

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Commodities in Flux After US Captures Venezuela’s Maduro

Mon, 05 Jan 2026 10:52:53 +0000

On today's podcast:
1) President Trump said the US needs “total access” to Venezuela as questions mount about the country’s leadership following the capture of President Nicolás Maduro. Delcy Rodríguez, the acting president of Venezuela, has asked the US to work with her country, striking a more conciliatory tone toward the Trump administration after her initial outrage at Maduro’s capture. It’s a sharp turnaround from the remarks she made in the hours after US forces snatched Maduro on Saturday and launched a series of targeted strikes in the capital and nearby cities.
2) The future of billions of barrels of Venezuelan oil that foreign companies are entitled to under current agreements has been thrown into doubt following Washington’s capture of President Nicolás Maduro over the weekend. Gold and silver advanced, with investors weighing heightened geopolitical risks following the US capture of Maduro. Gold is fresh from posting its best annual performance since 1979, hitting a series of records throughout last year with support from central-bank buying and inflows to bullion-backed exchange-traded funds. Three successive rate cuts by the US Federal Reserve were also a tailwind for precious metals, which don’t pay interest.
3) The US’s shock intervention in Venezuela will likely choke oil flows to China, although the short-term impact will be softened by large volumes of sanctioned crude being stored at sea. China is the major buyer of crude from the South American country, but that trade now looks in jeopardy after the seizure of Maduro over the weekend. President Trump said the US would run the country and American companies would rebuild its oil industry and sell a “large amount” to global buyers, including current customers and new ones, without specifically mentioning China.

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Instant Reaction: Trump Says US to ‘Run Venezuela’ in Interim After Maduro

Sat, 03 Jan 2026 18:15:50 +0000

President Donald Trump said the US would run Venezuela until a transition could be organized, hours after a US operation captured leader Nicolás Maduro, ousting the strongman from power after months of mounting military and economic pressure on his regime.
“We’re going to run the country until such time as we can do a safe, proper and judicious transition,” Trump said Saturday at a press conference at his Mar-a-Lago estate in Florida. “So we don’t want to be involved with having somebody else get in, and we have the same situation that we had for the last long period of years.”
Trump said the US administration of Venezuela would include deploying US oil companies to the country, though indicated that his embargo “on all Venezuelan oil remains in full effect” and that US forces would stay on alert.

Bloomberg's Joe Mathieu and Christina Ruffini speak with:

Rep. Brad Schneider (D-Illinois)
Justin Logan, director of defense and foreign policy studies at the Cato Institute.
Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor & Lester Munson, Principal of the International Practice at BGR Group and Republican Strategist

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Daybreak Weekend: Housing Outlook, Europe Culinary Trends, Australian Eco

Fri, 02 Jan 2026 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to what’s in store for commodities and housing in 2026.
In the UK – a look at the culinary and cultural trends to watch for in Europe next year.
In Asia – a look ahead to why the Reserve Bank of Australia may be set to pivot to interest rate increases in the new year.

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Mamdani Sworn In as NYC Mayor; US Sanctions Chinese Companies, Tankers With Venezuela Links

Fri, 02 Jan 2026 10:35:05 +0000

On today's podcast:
1) Zohran Mamdani unapologetically promised to lead New York City as a democratic socialist during a frigid inauguration ceremony on the steps of City Hall, a warning to those who believed he might moderate his positions after taking office. The nearly two-hour long event Thursday featured speeches by two of the US’s most liberal members of Congress, Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders. New York Attorney General Letitia James, a frequent target of President Trump, also had a speaking role. The ceremony served as a not-so-subtle statement of resistance to White House policies from the nation’s largest city.
2) The Trump administration stepped up a pressure campaign against Venezuela’s oil exports by sanctioning companies based in Hong Kong and mainland China, along with related oil tankers it accused of evading restrictions. The Treasury Department’s Office of Foreign Assets Control on Wednesday added four companies with links to Venezuela’s oil industry to its specially designated nationals and blocked persons list, while also sanctioning four vessels connected with those firms. The US already has a list of vessels and companies under sanction for their connections to Venezuela’s oil trade. But targeting Chinese firms doing business there is rare, and could be a signal to Beijing to steer clear of the stand-off between the Trump administration and the regime of Nicolás Maduro. China is Venezuela’s biggest customer for oil exports, which represent about 95% of Venezuela’s revenue.
3) President Trump pledged in a late night social media post that the US will come to the rescue of Iranian protesters if they are attacked by Islamic Republic authorities. The post, around 3 a.m. Washington and late morning in Iran on Friday, comes after protests erupted this week in Tehran after the currency slumped to a record low, worsening an economic crisis in a country already wracked by sanctions. Demonstrations have since spread to other parts of the country, setting off clashes between civilians and security forces. Trump didn’t provide any specifics on what actions he would consider taking.

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Daybreak Holiday: Big Tech Outlook with Dan Ives and Gene Munster

Wed, 31 Dec 2025 22:00:00 +0000

Artificial Intelligence and Big Tech dominated market sentiment in 2025. Now, we look to what may come in the new year. In this episode, Nathan Hager speaks with Wedbush Managing Director and Senior Equity Research Analyst Dan Ives and Deepwater Managing Partner and Co-Founder Gene Munster. Ives and Munster offer their short and long-term outlook for the technology industry heading into 2026.

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ACA Subsidies Set to Expire; Russia and Ukraine Trade Strikes on Black Sea Ports

Wed, 31 Dec 2025 10:37:39 +0000

On today's podcast:
1) Covid-era subsidies that help Americans pay for Obamacare health plans will expire today. It will result in more than 20 million Americans paying higher premiums next month. Democrats have tried to extend the additional support beyond the December deadline, but Republicans have balked, citing the cost of some $350 billion over the next decade. Meantime, a handful of House Republicans have joined Democrats in a maneuver that will put a three-year extension of the subsidies to a vote next month.
2) Russia and Ukraine struck each other’s Black Sea ports overnight, damaging infrastructure including an oil refinery. A drone attack on the Russian coastal city of Tuapse damaged a berth at the port and equipment at the local refinery, according to a statement from the emergency services. Fires at both sites were put out, while several residential buildings were also damaged. Two people were hospitalized. The Tuapse refinery, owned by Rosneft PJSC, has a processing capacity of about 240,000 barrels a day and produces mainly fuel oil, naphtha and diesel for export. In Ukraine, Russian forces struck the port city of Odesa, injuring at least six people and damaging residential properties and infrastructure, according to the local authorities. Some residents are without power, water and heating.
3) Israeli Prime Minister Benjamin Netanyahu says Iran should heed President Trump Warning's about not restarting its nuclear program. Speaking Tuesday to Fox News, he added that Iran is 'trying to' rebuild its missile capacity at new sites, and said he is aligned with Trump on wanting to give the new Syrian government a chance.

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Trump Ukraine Plan Wobbles; White House Warns Iran on Nuclear Program

Tue, 30 Dec 2025 10:44:52 +0000

On today's podcast:

1) President Trump’s campaign to end the war in Ukraine faced new complications on Monday when Russian President Vladimir Putin said he would revise his country’s negotiating position after the Russian leader claimed Ukrainian drones targeted his residence. Putin told Trump of his decision in a call Monday, according to the Kremlin, even as Kyiv cast the Russian allegations as a fabrication aimed at derailing the peace process. Trump addressed the dispute while speaking to reporters in Florida, saying that Putin had told him about the purported attack during their discussion. The US president, seeming to side with Putin, said he was “very angry.”

2) President Trump expressed concern that Iran is moving to rebuild its nuclear capabilities and bolster its ballistic missile program after strikes by the US and Israel earlier this year, and threatened to target the country again to prevent Tehran from stockpiling weapons. “Now I hear that Iran is trying to build up again, and if they are we are going to have to knock them down,” Trump said Monday at his Mar-a-Lago resort in Florida as he met with Israeli Prime Minister Benjamin Netanyahu. The president also said he would support Israel in strikes if Iran continued with its ballistic missile program, which Netanyahu highlighted earlier this year as “existential” threat along with Tehran’s nuclear development.

3) President Trump said the US struck a facility inside Venezuela, in what would be a significant escalation in its campaign against alleged drug trafficking operations there. Trump’s reference to an attack within Venezuela would mark the first time the US has announced a land strike in the country. The administration has raised pressure on the government of Nicolas Maduro by bombing boats in the region and implementing a blockade to disrupt the country’s oil exports. Separately, the US carried out another strike on an alleged drug boat in international waters on Monday, US Southern Command announced on X, sharing a 22-second video showing a vessel being destroyed in a fiery explosion.

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Trump Praises Zelenskiy After Mar-a-Lago Talks; Trump and Netanyahu to Meet Today

Mon, 29 Dec 2025 10:41:24 +0000

On today's podcast:
1) President Trump said he made “a lot of progress” in talks with Ukrainian President Volodymyr Zelenskiy over a possible peace deal, but that it might take a few weeks to get it done and there’s no set timeline. The pair met at the US president’s Mar-a-Lago resort Sunday, where they had lunch and later spoke on the phone with a group of European leaders to brief them on their progress. Among the major sticking points left to be resolved: the future of Ukraine’s Donbas region, which is partially occupied by Russian forces. Trump told reporters the issue was still unresolved, but “getting a lot closer.”
2) President Trump has another high profile meeting on the docket at his Mar-a-Lago resort in Florida. He is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu this afternoon. The two aim to boost a U.S.-brokered ceasefire in Gaza, which faces challenges as it looks to move into a more complicated second phase. That phase involves rebuilding Gaza under international supervision, creating an international security force and normalizing relations between Israel and the Arab world.
3) China kicked off military maneuvers around Taiwan that will include live-fire drills, a move that comes after the US announced one of its biggest arms packages ever for the self-run democracy. The exercises starting Monday would involve the army, navy, air force and Rocket Force, the Chinese military said in a statement. The exercises named “Justice Mission-2025” would “test the actual combat capability of theater troops in joint operations.” The People’s Liberation Army said in a separate statement that from 8 a.m. to 6 p.m. Tuesday it would hold live-fire exercises in five blocks around Taiwan, saying “any irrelevant vessel or aircraft is advised not to enter” the area.

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Daybreak Weekend: Broken Capitalism and a 2026 Stock Outlook

Fri, 26 Dec 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

John Authers, Bloomberg Opinion Columnist, discusses the five forces that broke Capitalism
Tim Craighead, Bloomberg Intelligence Bloomberg Intelligence Global Chief Content Officer, describes the European stocks to watch in 2026
John Lee, Bloomberg Intelligence APAC content manager, looks at what we can expect from Asian stocks in 2026

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Zelenskiy Plans to Meet Trump Soon; US Strikes ISIS Targets in Nigeria

Fri, 26 Dec 2025 11:04:19 +0000

On today's podcast:
1) Ukrainian President Volodymyr Zelenskiy said he plans to meet his US counterpart Donald Trump “in the coming days,” signaling optimism about reaching a peace deal to end Russia’s almost four-year war.“A lot could be decided before the New Year,” Zelenskiy said Friday in a Telegram and X post after receiving an update from Rustem Umerov, Ukraine’s top negotiator with the US and head of the National Defense and Security Council. The Kyiv Post reported earlier that Zelenskiy is expected to travel to Florida, where Trump is spending the Christmas break, as soon as Sunday. It cited a person familiar with the matter who wasn’t identified. Kyiv and Washington are seeking to align on a 20-point peace plan to present to Russian President Vladimir Putin, including the provision of strong security guarantees modeled on NATO’s Article 5, and a global post-war development program for Ukraine.
2) The US launched a military strike in Nigeria against Islamic State targets in a security and intelligence collaboration with the African nation’s government, which has been struggling to contain increasing levels of terrorist attacks in parts of the country. President Trump said he directed American forces to carry out “a powerful and deadly strike” against ISIS. Nigeria’s foreign affairs ministry confirmed the “precision hits on terrorist targets” and said it remains engaged with international partners including the US to address the “persistent threat of terrorism and violent extremism.”
3) Gold, silver and platinum jumped to all-time highs to extend a historic end-of-year rally for precious metals, with support from escalating geopolitical tensions and US dollar weakness. Frictions in Venezuela, where the US has blockaded oil tankers and ramped up pressure on the government of Nicolás Maduro, have added to the precious metal’s haven appeal. The Bloomberg Dollar Spot Index, a key gauge of the US currency’s strength, was down 0.7% for the week, its biggest drop since June.

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Daybreak Holiday: Market Expectations, The 12 Days of Christmas Cost

Wed, 24 Dec 2025 19:00:00 +0000

On this special Christmas edition of Bloomberg Daybreak, host Nathan Hager speaks with:

Cameron Dawson, Chief Investment Officer at Newedge Wealth and Brian Levitt, Global Market Strategist at Invesco discuss what we should expect from markets in 2026
Amanda Agati, Chief Investment Officer at PNC, breaks down the cost of the 12 days of Christmas.

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New Set of Epstein Files Released; Trump’s $100K H-1B Visa Application Fee Upheld by Judge

Wed, 24 Dec 2025 10:29:59 +0000

On today's podcast:
1) The US Justice Department released another tranche of files related to Jeffrey Epstein, including some that add fresh pressure on President Trump over his past relationship with the late, disgraced financier. The trove includes thousands of additional pages of material related to investigations of Epstein, including a 2020 email from a prosecutor that contains new detail about Trump’s trips on Epstein’s private jet in the 1990s, which the president has said never took place. There are also fresh details on Epstein’s relationships with financial firms and figures.
2) The US Supreme Court has refused to let President Trump start deploying National Guard troops in Chicago, dealing a setback to his drive to use the military in liberal cities across the country. Rejecting a Trump request in a 6-3 decision, the court on Tuesday left in force a judge’s ruling that has blocked the deployment since Oct. 9. The president wanted to use hundreds of troops to aid immigration enforcement in the third-largest US city. The court said the legal provision Trump sought to invoke probably doesn’t permit deployment of the National Guard in situations where the president wouldn’t have authority to send in active-duty military. The court said that under federal law, the president can deploy the armed forces to help execute the laws only in “exceptional” circumstances.
3) A federal judge says the Trump administration can move ahead with a $100,000 fee on new H-1B visa applications, providing a setback for US technology companies that rely on hiring skilled foreign workers. US District Judge Beryl Howell said in a ruling Tuesday that President Trump’s move to radically increase the cost of the popular visa is lawful. The decision provides a boost to the administration’s campaign to restrict immigration and push demand for US workers. The U.S. Chamber of Commerce, which sued to block the proposal, can appeal. Howell rejected the Chamber’s argument that the president doesn’t have the power to impose the fee, finding that his proclamation was issued under “an express statutory grant of authority to the President.”

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Trump Issues Warning to Venezuela's Maduro, Renews Call for Greenland Takeover

Tue, 23 Dec 2025 10:47:13 +0000

On today's podcast:

1) President Trump warned Venezuelan President Nicolas Maduro not to challenge the US, and vowed to keep oil seized from a supertanker but declined to say if he’s seeking to oust the Venezuelan leader. “He can do whatever he wants to do, whatever he wants to do, if he wants to do something, if he plays tough, it’ll be the last time he’s ever able to play tough,” Trump told reporters at a press conference at his Mar-a-Lago estate on Monday evening. Asked if he would try to push Maduro out, he responded, “That’s up to him.” Trump spoke after the US stepped up its blockade of tankers going to and from Venezuela over the weekend, boarding a non-sanctioned ship owned by a Hong Kong-based entity on Saturday and pursuing a third oil tanker off the coast of Venezuela. Another very large crude carrier, the Skipper, was intercepted on Dec. 10.

2) During Monday's press conference, Trump also said he believed “people are very angry that pictures are being released” that connect them to notorious sex offender Jeffrey Epstein, days after the Justice Department released a new tranche of files tied to the late financier. Trump said he hated to see former President Bill Clinton, who appeared frequently in the release, being tarnished by the association, describing the situation as “terrible.” The Epstein files, and the fight over their disclosure, have sparked infighting among Trump’s supporters, adding to the political headwinds that the president is facing heading into next year’s midterm elections.

3) President Trump reiterated his desire for US control over Greenland on Monday, after announcing plans to appoint Louisiana Governor Jeff Landry as a special envoy to the island. The president said Landry was “a deal-maker-type guy” who could help execute his vision for taking control of the territory. The president also said his desire was not rooted in Greenland’s energy or mineral reserves — saying the US had plenty of resources — but that he did not believe Denmark had devoted enough spending to protect the island.

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US Pursues Third Venezuelan Tanker; Justice Department Delays Some Epstein Files

Mon, 22 Dec 2025 10:42:46 +0000

On today's podcast:
1) The US’s pursuit of a third oil tanker off the coast of Venezuela has intensified a blockade that the Trump administration hopes will cut off a vital economic lifeline for the country and isolate the government of President Nicolás Maduro. The US Coast Guard chased the US-sanctioned Bella 1 on Sunday as it was en route to Venezuela. It boarded Centuries, a ship owned by a Hong Kong-based entity, on Saturday — the first non-sanctioned vessel to be targeted. Another very large crude carrier, the Skipper, was intercepted on Dec. 10. The moves on three separate vessels represent the most concerted attempt to date to sever the financial links sustaining a government that Washington says is led by a drug-trafficking cartel, and one that it has also recently designated as a foreign terrorist organization. Maduro has so far withstood the onslaught, but the blockade is beginning to limit hard currency and to hurt an already battered economy.
2) Democratic lawmakers said they plan to explore “all legal options” after the Justice Department announced it will not release all documents about the disgraced financier Jeffrey Epstein by the Friday deadline, threatening to prolong a high-stakes political fight as the midterm elections come into view. The US Justice Department released thousands of pages of pictures, phone records and notes from investigations into notorious sex offender on Friday, revealing new details about the late financier’s relationships with prominent business leaders and politicians. The department said more files will be released in coming weeks because the volume of material was too much to process by the Friday deadline set by Congress, sparking rebukes from many Democrats. The tranche included heavy redactions, a step intended to comply with the provisions of the law including protections for survivors and other accommodations.
3) A Supreme Court ruling that scraps President Trump’s tariffs — and refunds the import fees collected — would create a major “administrative problem,” the president’s top economic adviser said Sunday. “We really expect the Supreme Court is going to find with us,” Kevin Hassett, director of the National Economic Council, told CBS’s Face the Nation. Even if the court didn’t find in the Trump administration’s favor, Hassett argued it would be “pretty unlikely that they’re going to call for widespread refunds because it would be an administrative problem to get those refunds out there.” The Supreme Court is weighing a legal challenge to tariffs Trump imposed on dozens of nations under the 1977 International Emergency Economic Powers Act. Administration officials have drawn up options for reimposing import taxes in case of an adverse ruling, while publicly maintaining that a court defeat is unlikely.

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Daybreak Weekend: US GDP, UK Politics, China Eco

Fri, 19 Dec 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S GDP data and a tech outlook for 2026.
In the UK – a look at UK politics and what 2026 may hold in store for Prime Minister Keir Starmer.
In Asia – a look ahead to the challenges facing China’s economy in 2026.

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Trump Suspends US Green Card Lottery After Brown, MIT Attacks; DOJ Faces Epstein Files Deadline

Fri, 19 Dec 2025 10:38:01 +0000

On today's podcast:
1) Officials have found the dead body of the suspected shooter in a Brown University rampage and the murder of a Massachusetts Institute of Technology professor in his Boston-area home. The suspected shooter — Claudio Manuel Neves Valente, a 48-year-old Portuguese national who was a former student at Brown — took his own life, Providence Chief of Police Oscar Perez said at a press briefing on Thursday night. Meantime, the Trump administration halted the US green card lottery program, which it said was used by the suspect. Homeland Security Secretary Kristi Noem said in a post on X that she’s asking US Citizenship and Immigration Services to pause the lottery, officially known as the Diversity Immigrant Visa Program.
2) A trove of Justice Department records tied to Jeffrey Epstein is set for release Friday, part of a long-awaited public reckoning over the convicted sex offender’s ties to elites and years of alleged abuse. The documents could shed new light on government investigations dating back nearly two decades. President Trump, who had previously resisted efforts to unseal the files, signed legislation last month mandating their release, while the Justice Department has yet to specify a time for publication.
3) European Union leaders have agreed to loan Ukraine €90 billion ($106 billion) for the next two years in a bid to strengthen Kyiv’s hand at the negotiating table and keep the war-torn country afloat. The EU will fund the loan through joint debt raised on the capital markets and backed by the bloc’s budget, a significant pivot from the preferred plan to use Russian assets frozen on European soil. The decision came early Friday morning after marathon talks at a summit in Brussels. Ukraine won’t need to repay the loan until Moscow compensates Kyiv with reparations — and in the meantime, the Russian assets will remain immobilized in the EU.

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Trump Targets Price Anxiety in Primetime Address; US Approves $11 Billion Arms Sale to Taiwan

Thu, 18 Dec 2025 10:55:27 +0000

On today's podcast:
1) President Trump looked to reassure Americans concerned about the rising cost of living by announcing plans to award a special holiday payment to military service members and roll out new housing reforms in the new year. Trump announced the plans Wednesday during a prime-time address from the White House, which he used to extol his accomplishments from his first year back in the White House and convince voters they should still blame his predecessor for persistent economic anxieties. Trump’s biggest announcement was a move to award service members $1,776 payments, a decision that should provide a holiday boost to 1.45 million Americans.
2) The US has approved a package of arms sales to Taiwan worth up to $11 billion — one of its biggest ever — a move that drew criticism from Beijing. The approvals announced late Wednesday by the State Department cover a broad range of equipment, including missiles, drones and artillery systems aimed at strengthening the democracy’s defenses. The package includes the High Mobility Artillery Rocket System, or HIMARS, valued at up to $4.05 billion and howitzer guns worth about $4 billion. The total value of the weaponry is up to $11.154 billion, according to a statement from Taiwan’s Defense Ministry. The State Department said that the final amount would be lower depending on factors such as budget authority and military needs. Chinese Foreign Ministry spokesman Guo Jiakun later said his nation “strongly opposes and condemns” the US arms sale.
3) European Union leaders will try to overcome staunch resistance to both a funding plan for Ukraine and a massive trade deal with South America during a summit in Brussels starting Thursday — insisting that the bloc’s reputation is on the line. The gathering has taken on unusually high stakes as the EU is up against deadlines on both fronts. Officials say the EU’s Ukraine funding plans could fall apart if no agreement is found at the summit, forcing everyone back to the drawing board. And the trade pact with the Mercosur bloc — Argentina, Brazil, Paraguay and Uruguay — may enter a prolonged freeze if the EU can’t approve it before a tentative signing ceremony on Saturday

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Trump Orders Sanctioned Oil Tanker Blockade in Venezuela; US Readies New Russia Sanctions

Wed, 17 Dec 2025 10:40:41 +0000

On today's podcast:
1) President Trump ordered a blockade of sanctioned oil tankers going into and leaving Venezuela, ratcheting up pressure on Caracas as the US builds up its military presence in the region. The move threatens to choke off the economic lifeblood of a country that was already under severe financial pressure. But it will have a less profound impact on global markets due to the diminished status of Venezuela’s oil industry. The OPEC member’s crude output has slumped about 70% through more than 25 years of socialist rule to less than 1 million barrels a day. It could potentially rebound if the governing regime were to change.
2) The US is preparing a fresh round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace agreement with Ukraine, according to people familiar with the matter. The US is considering options, such as targeting vessels in Russia’s so-called shadow fleet of tankers used to transport Moscow’s oil, as well as traders who facilitate the transactions, said the people who spoke on condition of anonymity to discuss private deliberations. The new measures could be unveiled as early as this week.
3) OpenAI is in initial discussions to raise at least $10 billion from Amazon.com Inc. and use its chips, a potential win for the online retailer’s effort to broaden its AI industry presence and compete with Nvidia Corp. The deal under discussion could value OpenAI north of $500 billion and see it adopt Amazon’s Trainium chip, a person with knowledge of the matter said, asking to remain anonymous to describe private negotiations. Talks, however, are at a preliminary stage and terms could change, the person added. A deal would mark a win for Amazon’s fledgling semiconductor division. While Nvidia dominates the market for the powerful chips required to create AI platforms, developers such as Meta Platforms Inc. are starting to explore rival offerings from the likes of Alphabet Inc.’s Google.

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US Offers Ukraine Security Guarantee; Brown University Shooter Remains at Large

Tue, 16 Dec 2025 10:50:49 +0000

On today's podcast:
1) US negotiators offered more significant security guarantees to Kyiv as part of President Trump’s renewed push to end the Russia-Ukraine war, but the effort still appeared part of a bid to pressure President Volodymyr Zelenskiy on territory. The Trump administration offered to provide Ukraine with strong “Article 5-like” security guarantees — a reference to NATO’s mutual defense clause — as part of the current deal to find a diplomatic solution to the conflict, a US official told reporters, without providing any details. Later on Monday, Trump said a negotiated end to the war was “closer than” ever and that the US was working with Europe on security guarantees. But then he appeared to suggest Ukraine ought to give up land as part of the deal.
2) Nick Reiner, 32, was arrested and booked for the murder of his parents, the Hollywood director and actor Rob Reiner and photographer Michele Singer Reiner. The son was being held in jail in Los Angeles on no bail, the Los Angeles Police Department said in a statement on X. The case will be presented to the Los Angeles County District Attorney for filing consideration on Tuesday. Reiner, who directed 1980s classics like The Princess Bride and This Is Spinal Tap, was found dead Sunday at his home with his wife, both of whom appeared to have died from stab wounds, NBC News and other outlets reported, citing a source close to the family.
3) Shock over a shooting rampage at Brown University over the weekend is giving way to frustration over the lack of video footage and suspects. Authorities in Providence, Rhode Island, said Monday they hadn’t identified any new persons of interest in the shooting that killed two people and injured nine on the Ivy League campus Saturday afternoon. A person detained earlier was released late Sunday, and officials have said a lack of clear security-camera footage from inside the Barus & Holley engineering building where the shooting took place has slowed the search.

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Brown University Shooting; Australia Eyes Tougher Gun Laws After Hanukkah Attack

Mon, 15 Dec 2025 10:39:02 +0000

On today's podcast:

1) Brown University, mourning two students killed during a shooting rampage Saturday, sent students home and called off final exams, classes and assignments for the fall semester. A blanket of snow covered the campus and downtown Providence, Rhode Island, on Sunday morning as the Ivy League school reeled from its first encounter with mass violence. Students recounted barricading themselves in their homes, waiting out the shelter-in-place orders by huddling together in the dark for hours as a manhunt ensued for the suspect who opened fire as the undergrads were preparing for exams. The shooting interrupted the second day of finals on Brown’s campus, shattering the calm in a study session in the Barus & Holley engineering building.

2) Australian Prime Minister Anthony Albanese and state leaders pledged to strengthen gun laws a day after a father and son killed 15 people in the nation’s deadliest terror attack. The National Cabinet has tasked police ministers and attorneys-general to explore options including caps on the number of firearms an individual can hold, limits on open-ended licenses, stricter rules on the allowed types of guns and modifications, and a requirement that license holders be Australian citizens. Albanese also said in a statement following an emergency National Cabinet meeting that ministers pledged to eradicate antisemitism, hate, violence and terrorism.

3) Hollywood director and actor Rob Reiner, who helmed 1980s classics like The Princess Bride and This Is Spinal Tap, died Sunday in murky circumstances that triggered a police investigation. He was 78. Reiner was discovered in his Los Angeles home alongside wife Michele Singer Reiner, both of whom appeared to have died from stab wounds, NBC News and other US outlets reported, citing sources close to the family. Representatives for Reiner didn’t immediately respond to requests for comment.

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Daybreak Weekend: Jobs Preview, Paris Conference, BOJ Decision

Fri, 12 Dec 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the November jobs report and quarterly earnings from Nike.
In the UK – a look ahead to the Conference of Paris.
In Asia – a look ahead to the next monetary policy decision from the Bank of Japan.

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Global Stocks Hit All-Time Highs; Broadcom Slides as Investors Seek AI Payoff

Fri, 12 Dec 2025 10:54:44 +0000

On today's podcast:
1) Global stock gauges have record highs in their sights after a week in which affirmation that the Federal Reserve’s interest-rate easing cycle remains intact helped clear the way for a year-end rally. Europe’s Stoxx 600 rose as much as 0.5% to a fresh peak. A measure for Asia advanced to less than 2% from its all-time high. S&P 500 futures were slightly lower after the benchmark posted a new closing milestone in the previous session, when gauges for blue-chip and small-cap US stocks also pushed into record territory.
2) Broadcom Inc., a chip company vying with Nvidia Corp. for AI computing revenue, slumped after its sales outlook for the red-hot market failed to meet investors’ lofty expectations. The shares fell about 5% in premarket trading on Friday, following unsettling commentary from Chief Executive Officer Hock Tan on a conference call with analysts. He said the company has a backlog of $73 billion in AI product orders that will be shipped over the next six quarters — a number that disappointed some investors. But Tan sought to clarify that the figure was a “minimum.”
3) President Trump said the US would be willing to contribute assistance to Ukraine as part of a security agreement to end the war with Russia, but continued to express frustration with the pace of talks. Still, he expressed disappointment that Ukraine President Volodymyr Zelenskiy had not more readily signed off on an American peace plan, adding to pressure on officials in Kyiv who pushed back on an earlier US proposal seen as too accommodating to Moscow.

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US Seizes Sanctioned Oil Tanker Off Venezuelan Coast; Traders Flock to Safety on Oracle Woes

Thu, 11 Dec 2025 10:36:20 +0000

On today's podcast:
1) US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela, marking a serious escalation of tensions between the two countries. A senior Trump administration official referred to the ship as “a stateless vessel” that was last docked in Venezuela. Bloomberg News was first to report the seizure. The US action may make it much harder for Venezuela to export its crude, as other shippers are now likely to be more reluctant to load its cargoes. Most of the nation’s oil goes to China, usually through intermediaries, at steep discounts owing to sanctions risk. Brent futures edged higher after the news.
2) A coalition of Ukraine’s allies will discuss a bid to move swiftly on President Trump’s peace proposal on Thursday as Kyiv’s forces carried out their first-ever attack on Russian Caspian Sea oil production. Leaders from more than 30 countries that are part of the so-called coalition of the willing group will hold a virtual meeting, their second this week, Ukrainian President Volodymyr Zelenskiy said in a video address. Allies will discuss the state of peace talks and the latest draft plan that Ukrainian officials sent to Washington overnight, people familiar with the planning said. UK Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz are expected to brief participants on an exchange they had with Trump on Wednesday.
3) A market party after the Federal Reserve’s policy decision came to an abrupt halt within hours as a plunge in Oracle Corp.’s shares reawakened concerns over tech-stock valuations. Now investors are left to ponder whether they will still get a Christmas rally. The MSCI All Country World Index had been a whisker away from its peak before changing course, while gold snapped what would have been a three-day winning streak. The earlier gains were a reflection of enthusiasm following the Fed’s latest interest rate cut and Chair Jerome Powell’s upbeat assessment of the US economy. The upbeat mood faded after Oracle’s stock plunged on the company’s below-consensus sales and spending increase that rekindled worries over tech shares’ expensive valuations. That caused Nasdaq futures to slump as much as 1.6% and 10-year Treasury yields to drop by three basis points at one point.

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Traders Eye 2026 Fed Outlook; Trump Insists Smart People Back Tariffs

Wed, 10 Dec 2025 10:47:11 +0000

On today's podcast:
1) Stocks are marking a second straight day of restrained moves as traders await the Fed’s outlook for interest rates in 2026 after an expected cut at Wednesday’s policy announcement.
2) President Donald Trump said people were “starting to learn” the benefits of his tariff regime as he sought to convince voters his administration was moving to address affordability concerns, taking to the road in hopes of countering a mounting political vulnerability.
3) Paramount Skydance Corp. and Netflix Inc. — the entertainment heavyweights locked in a bidding war for Warner Bros. Discovery Inc. — are girding for a battle they predict will stretch well into 2026.

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Paramount Skydance's Hostile Warner Bros. Bid, Nvidia Wins Trump's Approval to Sell Chips in China

Tue, 09 Dec 2025 10:43:27 +0000

On today's podcast:
1) The US president’s son-in-law. One of the largest alternative-asset managers. The CEO’s father who fleetingly commanded a fortune exceeding Elon Musk’s. Paramount Skydance Corp.’s hostile takeover bid Monday for Warner Bros. Discovery Inc. brought together an array of banks, billionaires and sovereign-wealth funds, all with the aim of torpedoing Netflix Inc.’s deal last week.
2) President Donald Trump granted Nvidia Corp. permission to ship its H200 artificial intelligence chip to China in exchange for a 25% surcharge, a move that lets the world’s most valuable company potentially regain billions of dollars in lost business from a key global market.
3) Stocks wavered and US bond yields softened from a two-month high as traders held off on making big bets ahead of the Federal Reserve’s final interest-rate decision of 2025. S&P 500 futures were little changed after the US benchmark halted a four-day rally. A dayslong slump in US Treasuries has curbed risk appetite as traders grow cautious about the pace of rate cuts beyond Wednesday’s policy meeting.

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Trump Warns Netflix-Warner Deal May Pose Antitrust ‘Problem’, Farm Aid Program Details

Mon, 08 Dec 2025 10:37:14 +0000

On today's podcast:
1) President Donald Trump raised potential antitrust concerns around Netflix Inc.’s planned $72 billion acquisition of Warner Bros. Discovery Inc., noting that the market share of the combined entity may pose problems.
2) The Trump administration on Monday plans to unveil a long-awaited farm aid package, according to a White House official, offering $12 billion in assistance to a key base of support hit hard by low crop prices and the impact of the president’s tariff policies.
3) Yardeni Research now recommends effectively going underweight the Magnificent Seven megacap technology stocks versus the rest of the S&P 500, expecting a shift in earnings growth ahead.

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Daybreak Weekend: Fed Decision, Cybersecurity Conference, China Eco

Fri, 05 Dec 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to next week’s Fed decision and earnings from Oracle and Adobe.
In the UK – a look ahead to the Blackhat cybersecurity conference.
In Asia – a look ahead to China consumer and producer price data.

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Warner Bros. Begins Exclusive Talks With Netflix; US Lobbies to Block EU Loan Plan for Ukraine

Fri, 05 Dec 2025 10:47:02 +0000

On today's podcast:
1) Warner Bros. Discovery Inc. has entered exclusive negotiations to sell its film and TV studios and HBO Max streaming service to Netflix Inc., according to people familiar with the discussions. Netflix is offering a $5 billion breakup fee if regulators don’t approve the deal, said the people, who asked to not be identified because the discussions are private. The two companies could announce a deal as soon as in the coming days, assuming talks don’t fall apart, the people said. The move suggests Netflix has pulled ahead of Paramount Skydance Corp. and Comcast Corp., who were also competing for the asset. Prior to the closing of the sale, Warner Bros. — valued at more than $60 billion overall — will complete the planned spinoff of cable channels including CNN, TBS and TNT.
2) The US lobbied several countries in the European Union in an effort to block EU plans to use frozen Russian central bank assets to back a massive loan to Ukraine, according to European diplomats familiar with the matter. US officials argued to member states that the assets are needed to help secure a peace deal between Kyiv and Moscow and should not be used to prolong the war, said the diplomats, who spoke on the condition of anonymity.
3) India will pay about $2 billion to lease a nuclear-powered submarine from Russia, according to people familiar with the matter, finalizing delivery of the vessel after roughly a decade of talks just as President Vladimir Putin makes a visit to New Delhi. Talks for leasing the attack submarine from Russia had stalled over the years because of price negotiations, the people said, asking not to be identified because the discussions are private. The two sides have now agreed on the deal, with Indian officials visiting a Russian shipyard in November.

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Market Doubts Hassett Can Deliver in Fed; Bessent Under Discussion to Also Lead NEC

Thu, 04 Dec 2025 10:52:29 +0000

On today's podcast:
1) Kevin Hassett may not have the ability to deliver the rapid pace of interest rate cuts President Trump would like, even if he is approved as the next Federal Reserve Chair, said Gregory Peters, co-chief investment officer at PGIM Fixed Income. Peters made the remarks amid rising talk that Hassett, the White House National Economic Council Director, may ease monetary policy aggressively to please Trump if he is picked to run the Fed. But the PGIM fund manager suggested that — since Fed rate decisions are ultimately decided by committee — Hassett won’t have the power to deliver on his own. Peters’ remarks were in response to a Financial Times report that bond investors, including those on the borrowing advisory committee, have voiced concerns to the US Treasury about Hassett’s potential appointment as the Fed chief.
2) President Trump’s aides and allies are discussing the possibility of making Treasury Secretary Scott Bessent the top White House economic adviser — in addition to his current job — should the president pick Kevin Hassett as the next chair of the Federal Reserve, according to people familiar with the matter. Tapping Bessent to lead the White House’s National Economic Council would allow him to consolidate oversight of Trump’s economic policies if Hassett — the current NEC director — becomes the next leader of the US central bank, an announcement Trump has hinted at in recent days. If Bessent is also named to the NEC, he would become the chief arbiter of the administration’s economic portfolio spanning the purview of both the Treasury Department and White House. It would also give Bessent a West Wing office, granting him even more physical proximity to the president.
3) The Pentagon watchdog concluded that Defense Secretary Pete Hegseth risked endangering American troops and the US mission against Houthi rebels in Yemen when he shared attack plans on the Signal messaging app, a person familiar with the matter said. The acting Pentagon inspector general’s classified report, delivered to a Senate committee yesterday, said Hegseth violated government policies by using his personal phone and Signal to transmit the information, which was marked “Secret.” The person describing the contents of the report asked not to be identified discussing private information.

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Kremlin Calls Russia-US Talks Constructive; Trump Sees Fed Chair Pick 'Early Next Year'

Wed, 03 Dec 2025 10:37:17 +0000

On today's podcast:
1) The Kremlin said Vladimir Putin held “very useful” talks with US envoys Steve Witkoff and Jared Kushner though the sides failed to reach agreement on a plan to end Russia’s war in Ukraine. The negotiations lasting almost five hours were “constructive and very informative,” though “a compromise hasn’t been reached yet” on the critical issue of territorial control, Kremlin foreign policy aide Yuri Ushakov told reporters in Moscow. A possible meeting between Putin and President Trump “will depend on what progress is being made,” Ushakov added.
2) Republicans averted an upset in a Tennessee-based US House race Tuesday, a relief to President Trump and his congressional allies. Matt Van Epps, the Trump-backed Republican candidate, was projected to win by the AP, NBC News and Decision Desk HQ, an election analysis website. Trump praised the GOP victory in a social media post and Van Epps declared victory. Yet even in victory, voters in a district Trump won overwhelmingly just over a year ago swung away from Republicans, the latest data point in a trend that is raising alarm about the GOP’s prospects in next year’s midterm elections, as Van Epps’ victory came about only after Republicans surged resources and expended political capital in a strident GOP district that would typically be considered safe.
3) President Trump said he plans to announce his selection to lead the Federal Reserve in early 2026 and teased National Economic Council Director Kevin Hassett as his possible choice on Tuesday, fueling further speculation about the next leader of the US central bank. Hassett is seen as the likely choice to succeed Powell, people familiar with the matter told Bloomberg News last week, and Trump nodded to that position at a separate event shortly after the Cabinet meeting on Tuesday. Trump’s comments offer a clearer timeline for the announcement. Treasury Secretary Scott Bessent, who has been overseeing the selection process, previously said the pick could be revealed around Christmas.

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US Envoy Witkoff Heads to Moscow; White House Defends 'Second Strike'

Tue, 02 Dec 2025 10:36:22 +0000

On today's podcast:
1) US envoy Steve Witkoff is traveling to Moscow to meet with President Vladimir Putin, who claimed a key Ukrainian city had fallen to Russia on the eve of talks about a potential peace plan to end his war. Putin said Russian troops had taken the city of Pokrovsk in Ukraine’s eastern Donetsk region in a video announcement posted late Monday by the Kremlin, an advance that would be Russia’s most significant on the battlefield in nearly two years. Ukraine’s Military Staff spokesman Bohdan Senyk denied its forces had lost the city in a message early Tuesday. Bloomberg isn’t able to independently verify the claims of either side. Witkoff is due to hold talks with Putin on Tuesday on the latest proposals for ending Russia’s full-scale invasion of Ukraine following negotiations between US and Ukrainian officials in Florida. Amid fears in Europe that the plan risks rewarding Russian aggression by forcing Kyiv into a deal, Ukrainian President Volodymyr Zelenskiy said the latest version “looks better” during a visit to Paris on Monday to meet with French counterpart Emmanuel Macron.
2) The White House defended the Pentagon’s handling of a September attack on an alleged drug-running boat and denied that Defense Secretary Pete Hegseth had given an order to kill everyone on the vessel, rebutting a report that had led to allegations of possible war crimes. White House spokeswoman Karoline Leavitt confirmed there were two strikes on the vessel in the Sept. 2 attack but stressed the actions were lawful amid a deadly domestic opioid crisis in the US. The comments signaled Trump continues to support Hegseth, who came under fresh scrutiny after the Washington Post reported Friday that he ordered the attack and demanded that those strikes kill everyone on board. That report led to accusations that the US military was committing war crimes in the waters off the coast of South America.
3) Almost $1 billion of leveraged crypto positions were liquidated during another sharp drop in prices on Monday that brought fresh momentum to a wide-ranging selloff. Bitcoin slid as much as 8% to $83,824 in New York, bringing its decline since early October to almost 30%. Ether dropped as much as 10% to as low as $2,719, and is down 36% over the past seven weeks. The market downturn has been even tougher on smaller, less liquid tokens that traders often gravitate toward because of their higher volatility and typical outperformance during rallies. A MarketVector index tracking the bottom half of the largest 100 digital assets is down almost 70% this year. The crypto market is on shaky ground after a weeks-long selloff that began when some $19 billion in levered bets were wiped out in early October as President Trump whipsawed markets with threats of higher tariffs, data compiled by tracker Coinglass show. That was just days after Bitcoin set an all-time high of $126,251.

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US Calls Ukraine Talks Productive; Trump Teases Fed Chair Pick

Mon, 01 Dec 2025 10:31:08 +0000

On today's podcast:
1) US and Ukrainian negotiators said they had productive discussions about a framework for a peace deal, but there was no final breakthrough as President Trump continues to push for a truce with Russia. “There’s more work to be done,” Secretary of State Marco Rubio told reporters in Florida after meeting for at least four hours with Ukrainian officials led by National Security and Defense Council Secretary Rustem Umerov. “This is delicate. It’s complicated.” The meeting, which took place in Hallandale Beach, Florida, with US special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner also in attendance, was likely the last chance for Ukraine’s negotiators to sway Witkoff before he leads a US delegation for talks in Russia this week. The two sides discussed potential parameters for a ceasefire as they pored over a 19-point proposal that emerged in Geneva last week — as well as the status of the Russian-occupied Zaporizhzhia nuclear power plant, the biggest in Europe, according to people familiar with the discussions.
2) US authorities believe the man suspected of fatally shooting a National Guard member and seriously wounding another in Washington, DC, was radicalized while in the US, Homeland Security Secretary Kristi Noem said. Asked on NBC’s Meet the Press about the suspect’s motive, Noem said investigators are still collecting information and talking to his contacts. Federal authorities have identified the suspect as Rahmanullah Lakanwal, 29, an Afghan national who worked with US forces and the CIA in Afghanistan before arriving in the US in 2021. He was subdued and taken into custody shortly after the shooting on a street a few blocks from the White House on Wednesday.
3) President Trump said Sunday he has decided on his pick for the next Federal Reserve chair after making clear he expects his nominee to deliver interest-rate cuts. Trump has frequently excoriated current Fed chief Jerome Powell for failing to lower rates swiftly and signaled he wants a chair who will more forcefully pursue cuts. People familiar with the matter told Bloomberg News last week that White House National Economic Council Director Kevin Hassett, Trump’s chief economic adviser, is seen as the likely choice to succeed Powell.

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Daybreak Weekend: Tech Earnings, Middle East and Africa Summit, Labubu Craze

Fri, 28 Nov 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Crowdstrike, Snowflake, and Salesforce.
In the UK – a look ahead to the seventh Milken Institute Middle East and Africa Summit.
In Asia – a look ahead to whether Asia's Labubu toy has hit its peak.

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National Guard Soldier Dead After DC Ambush; Trump Calls for 'Reverse Migration'

Fri, 28 Nov 2025 10:38:02 +0000

On today's podcast:
1) One member of the West Virginia National Guard who was shot in the attack near the White House in Washington, DC, died after being in critical condition, President Trump said Thursday. US Army Specialist Sarah Beckstrom, 20, originally from Webster Springs, West Virginia, died after being shot Wednesday. US Air Force Staff Sergeant Andrew Wolfe, 24, remains in critical condition. Federal authorities have identified the suspected shooter as Rahmanullah Lakanwal, 29, an Afghan national who previously worked with US forces and the CIA in Afghanistan before arriving in the US in 2021. He was subdued shortly after the shooting and taken into custody. Trump said he is in serious condition.
2) President Trump called for “reverse migration” in the US as he outlined a series of potential measures to crack down on immigration, including halting admissions from unspecified developing nations and revoking citizenship from some naturalized migrants. In a pair of Truth Social posts late Thursday that disparaged many US immigrants, Trump said he would “permanently pause migration from all Third World Countries” and “denaturalize migrants who undermine domestic tranquility.” Trump offered no details on how he would implement these policies or what he considers a “third world” country, an ill-defined and often offensive term for developing nations. Congress for years has failed to pass major immigration reforms, and courts have blocked some of his previous executive orders limiting immigration.
3) Washington's proposals for ending the war in Ukraine could be the basis for future agreements, but no final version exists yet, Russian President Vladimir Putin said, while signaling an openness to talks. The Kremlin confirmed on Wednesday that US presidential envoy Steve Witkoff was expected to visit Moscow next week and meet with Putin, as President Trump continues his push for a resolution to Moscow’s nearly four-year-old invasion of Ukraine. Trump on Tuesday said there was “tremendous progress” made over the past week on his peace proposal, the original draft of which drew the ire of Ukrainians and Europeans.

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Daybreak Holiday: Black Friday Sales, Markets, Bitcoin and Antitrust

Thu, 27 Nov 2025 10:00:00 +0000

On this special Thanksgiving edition of Bloomberg Daybreak, host Nathan Hager speaks with:

Poonam Goyal and Lindsay Dutch of Bloomberg Intelligence look ahead to Black Friday and what we can expect in the retail space.
Scott Martin, Chief Investment Officer of Kingsview Wealth Management, looks ahead to what 2026 will bring for market volatility
Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, discusses the recent bitcoin crash and looks ahead to crypto in the new year.
Jen Rie, Bloomberg Intelligence Senior Litigation Analyst, updates on the latest antirust battles facing high tech

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Witkoff Advised Russia on How to Pitch Ukraine Plan to Trump; Hasset Frontrunner For Fed Chair

Wed, 26 Nov 2025 10:39:15 +0000

On today's podcast:
1) US presidential envoy Steve Witkoff, fresh from the triumph of the Gaza peace deal, held a phone call last month with a senior Kremlin official to suggest they work together on a similar plan for Ukraine — and that Vladimir Putin should raise it with Donald Trump.
2) White House National Economic Council Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks.
3) Stocks climbed as elevated expectations for US interest-rate cuts helped sustain traders’ newfound optimism into the Thanksgiving holiday. The S&P 500 was set to extend a three-day, 3.5% rally marked by broad gains across sectors. Alphabet Inc. rose 1.5% in premarket trading after three straight closes at all-time highs. The US benchmark also drew technical support as it moved back above its 50-day moving average. The dollar headed for back-to-back losses, while Treasuries eased.

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Trump Moves to Preserve Xi Truce While Reassuring Ally Japan, Moscow and Kyiv Trade Fire

Tue, 25 Nov 2025 10:52:23 +0000

On today's podcast:
1) US President Donald Trump held back-to-back calls with the leaders of China and Japan, as escalating tensions over Taiwan threaten to derail his weeks-old trade truce with Beijing. Trump’s hour-long conversation with President Xi Jinping on Monday marked their first contact since Japan’s new prime minister enraged Beijing by suggesting her nation’s troops could be drawn into a Taiwan crisis. Xi told his US counterpart Taiwan’s return to China was an “integral part of the postwar international order,” in a call the Chinese Foreign Ministry later said was “initiated by the US.”
2) A US official is in Abu Dhabi for meetings with a Russian delegation as President Donald Trump cited progress on his peace proposal and Moscow and Ukraine carried out airstrikes overnight.
3) Nvidia shares fell on a report that Meta is in talks to spend billions on Google’s AI chips, suggesting the internet search leader is making headway in efforts to rival the industry’s bestselling AI accelerator. Meta is in discussions to use the Google chips — known as tensor processing units, or TPUs — in data centers in 2027, The Information reported, citing an unidentified person familiar with the talks. Meta also may rent chips from Google’s cloud division next year, the news outlet said.

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Latest on Talks to End War in Ukraine; Stocks Rise to Start Week

Mon, 24 Nov 2025 10:48:46 +0000

On today's podcast:
1) Ukrainian and US negotiators prepared an “updated and refined framework document on peace,” according to a top aide to President Volodymyr Zelenskiy, as Kyiv sought more favorable terms from a proposal backed by Donald Trump.
2) Global stocks advanced after a late Wall Street comeback on Friday as investors prepare for a week of key economic data amid rising expectations for a December US interest-rate cut.
3) Treasury Secretary Scott Bessent said the Trump administration is working on bringing down US health-care costs and an announcement to address the issue is planned for this week.

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The CEO Radar: AI Is Rising on CEO Agendas (Sponsored Content)

Sun, 23 Nov 2025 15:00:00 +0000

AI is rising on the agendas of global CEOs, according to the latest edition of the CEO Radar. But a surprising number of chief executives are still struggling to embed the technology into their businesses. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Vlad Lukić, BCG Global Leader of Tech and Digital Advantage, to explore how CEOs can compare themselves to their peers when it comes to corporate integration of AI.

This episode is sponsored by BCG.

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Daybreak Weekend: Retail Preview, UK Budget, China PMI

Fri, 21 Nov 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Dell, Kohl’s Abercrombie & Finch, and retail ahead of the holiday season.
In the UK – a look ahead to the UK's highly anticipated autumn budget.
In Asia – a look ahead to China PMI data.

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Markets Poised for Seven-Month Low; Trump & Mamdani to Meet Friday

Fri, 21 Nov 2025 10:50:14 +0000

On today's podcast:
1) Global stocks are poised for their worst week in seven months as concerns over lofty valuations and whether massive investments in artificial intelligence will pay off prompt investors to retreat from riskier assets. The MSCI All Country World Index has slumped 3.1% this week, putting it on track for its sharpest weekly drop since April 4, when President Trump’s tariffs rattled markets. Bitcoin fell below $84,000, extending its drop from an all-time high less than seven weeks ago to more than 30%. European and Asian shares were also set for their biggest weekly decline since April after Wall Street’s Thursday selloff. Sentiment remained fragile for US assets, with S&P 500 futures fluctuating after the benchmark slipped to its weakest level since September.
2) Philadelphia Fed President Anna Paulson said she’s approaching next month’s rate-setting meeting with caution, though she remains more concerned about weaknesses in the job market. “Each rate cut brings us closer to the level where policy flips from restraining activity a bit to the place where it is providing a boost. So, I am approaching the December FOMC cautiously,” Paulson said Thursday, referring to next month’s gathering of the Federal Open Market Committee. “Each rate cut raises the bar for the next cut.” Deep divisions have emerged among policymakers after they lowered rates at two consecutive meetings. Some remain concerned more by weakness in the labor market while others have expressed growing worry over inflation. The lack of official data during the long government shutdown has also blurred policymakers’ view of the economy.
3) President Trump and New York City Mayor-elect Zohran Mamdani are set to meet at the White House on Friday, the president said in a social media post. The meeting marks the first time the two leaders will come together to discuss how they can work with each other since the election earlier this month. Mamdani was elected as mayor of New York City after campaigning on a progressive platform that includes freezing the rent on more than 1 million stabilized apartments, providing universal child care, funding free buses and operating city-owned grocery stores. Mamdani, a democratic socialist, is seeking higher taxes on corporations and the wealthy to pay for his agenda.

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Nvidia Earnings Ease AI Bubble Fears; Traders Brace for Jobs Report

Thu, 20 Nov 2025 10:30:47 +0000

On today's podcast:
1) Nvidia Corp. delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector. The world’s most valuable company expects sales of about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. Nvidia also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. The outlook signals that demand remains robust for Nvidia’s artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia had faced growing fears in recent weeks that the runaway spending on such equipment wasn’t sustainable. Nvidia results have become a barometer for the health of the AI industry, and the news lifted a variety of related stocks.
2) Bond investors are zeroing in on Thursday’s US labor market report, which is expected to either kill or rekindle waning expectations for a Federal Reserve interest-rate cut next month. The September payrolls report, due at 8:30 a.m. New York time after a delay caused by the government shutdown, will be the only official major jobs data published before Fed policymakers meet for the final time this year. A report showing a resilient employment situation could undercut the case for more rate cuts and dash hopes of a further rally in the $30 trillion US Treasuries market. A soft reading, on the other hand, could revive bets on a third consecutive quarter-point cut at the Dec. 10 meeting and boost a market that’s already headed for its best year since 2020. Odds of a December cut assigned by the market have steadily slipped in recent weeks as some policymakers pushed back against further easing while inflation continues to run above the Fed’s 2% target.
3) President Trump has signed legislation to compel the Department of Justice to release files on the late, disgraced financier Jeffrey Epstein. Trump said in a social media post that he signed the legislation Wednesday, approving a measure he had spent months trying to block in a fight that inflamed tensions in his own party and threatened to undermine his agenda. The president’s signature marked a stunning about-face for Trump, who had assailed the effort to require the release of the government’s files on Epstein — a convicted sex offender, who was facing federal charges of trafficking underage girls when he died in jail in 2019. It followed a lopsided 427 to 1 vote in the House — where a lone Republican lawmaker provided the only no vote — and the Senate agreeing unanimously to send the measure to the president’s desk.

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Congress Passes Epstein Files Bill; Nvidia Earnings on Deck

Wed, 19 Nov 2025 10:47:58 +0000

On today's podcast:
1) President Trump’s firm control of Washington showed signs of weakening Tuesday as Congress voted to compel the Justice Department to release its files on sex trafficker Jeffrey Epstein, whose earlier ties to the president have been the subject of intense scrutiny. The legislation overwhelmingly passed the House in a 427 to 1 vote. Within hours, the Senate agreed unanimously that the bill would be passed without further action once it arrives in the Senate. It will then be sent to Trump, who has said he’ll sign it. Trump late Sunday relented on his prior opposition and directed Republicans to vote to release the files. Senate Republicans ignored calls by Speaker Mike Johnson to give the Justice Department additional leeway to withhold documents.
2) President Trump said he would formally designate Saudi Arabia as a major non-NATO ally in a further strengthening of ties between the two countries, capping a day of dealmaking between the US leader and the kingdom’s Crown Prince Mohammed bin Salman. The designation for nations with close strategic relationships with the US provides financing and priority access for purchases of certain military equipment, as well as the ability to participate in joint research efforts. Saudi Arabia will become the 20th ally designated under the status, joining other nations in the Middle East including Egypt, Israel, and Qatar. MBS, as Saudi Arabia’s de facto leader is known, was joined by prominent executives and celebrities including Elon Musk and soccer star Cristiano Ronaldo at the Tuesday evening event, with Apple CEO Tim Cook, Nvidia’s Jensen Huang, and FIFA President Gianni Infantino also in attendance.
3) Wall Street will get a sense of where the billions of dollars being spent on artificial intelligence are going when Nvidia reports its earnings after the bell on Wednesday. Analysts expect the chip behemoth to show more than 50% growth in both net income and revenue in its fiscal third quarter. The reason is fairly straightforward. Microsoft Corp., Amazon.com Inc., Alphabet Inc. and Meta Platforms Inc. — which taken together represent more than 40% of Nvidia’s sales — are projected to increase their combined AI spending by 34% over the next 12 months to $440 billion, according to data compiled by Bloomberg. The risk is that these numbers could become unreliable if the big AI spenders, in particular closely held OpenAI, have to pull back on their commitments.

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Global Markets Extend Selloff; Saudi Arabia's MBS to Visit White House

Tue, 18 Nov 2025 10:53:04 +0000

On today's podcast:
1) Global markets extended a broad selloff, with US stock futures signaling a fourth day of losses and Bitcoin briefly slipping below $90,000 as traders pulled away from speculative assets. S&P 500 futures fell 0.3% after the benchmark closed below its 50-day moving average in the previous session, a sign of scope for further losses. Bitcoin slid more than 1%. European stocks declined for a fourth day. Stock gauges across Asia were in the red, with Japan’s Nikkei 225 posting its worst day since April. Bonds were the biggest beneficiaries as investors sought havens, with the yield on 10-year US Treasuries dropping four basis points to 4.10%. The dollar held steady as gold fell closer to $4,000 an ounce. The cross-asset moves underscored continued unease over interest rates and tech earnings, with Nvidia Corp.’s report on Wednesday poised to test investor nerves over lofty valuations in the artificial-intelligence sector. Focus will then turn to the delayed September jobs report due Thursday, a key gauge for the Federal Reserve’s policy outlook.
2) Federal Reserve Governor Christopher Waller repeated his view that the central bank should again lower interest rates when policymakers meet in December, citing a weak labor market and monetary policy that is hurting low- and middle-income consumers. In a speech titled ‘The Case for Continuing Rate Cuts’ delivered in London, Waller said another rate cut would represent good “risk management” by the rate-setting Federal Open Market Committee. He said he isn’t concerned about inflation accelerating or inflation expectations rising significantly given clear signs of softening demand for workers.
3) Saudi Arabia’s Crown Prince Mohammed bin Salman will likely be greeted with great fanfare by President Trump during his visit to the White House on Tuesday. The crown prince hopes to secure an executive order from Trump to bolster Saudi Arabia’s security and potentially pave the way for a stronger defense treaty. The two are also expected to reach an agreement that would allow the kingdom to purchase F-35 stealth planes, despite Israel wanting to keep a monopoly on access. Discussions on the future of Gaza and the thorny issue of relations with Israel are on the agenda as well. There also remains tension over access to AI chips and nuclear technology.

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Trump Urges House Vote for Epstein Files Release; Bessent on $2K Tariff Dividend Checks

Mon, 17 Nov 2025 10:29:08 +0000

On today's podcast:
1) The Justice Department would have to publicly release unclassified records relating to the late financier and convicted sex offender Jeffrey Epstein under a House proposal set for a vote this week. On Sunday, President Trump said House Republicans should vote to require the DOJ to release the files, effectively reversing a position he’d held for months. Trump has been under increasing pressure from some within his party to release the investigative materials on the disgraced financier, who ran an underage sex ring and died in prison in 2019. A congressional committee last week released some 20,000 pages of emails and other documents, pivoting attention away from the fight over the government shutdown and forcing the White House to respond.
2) US airlines will be able to resume normal operations starting Monday after more than a week of government-mandated flight reductions. The US Department of Transportation and Federal Aviation Administration announced late Sunday they would lift cuts across 40 major US airports that were imposed during the government shutdown, starting from 6 a.m. Monday New York time. On Friday, officials earlier eased up on flight reductions, capping them at 3% from 6%. The cuts first went into effect on November 7th at a rate of 4% and were supposed to slowly increase to 10% by November 14th. However, the government froze the rate at 6% Wednesday, shortly before President Trump signed legislation to end the longest federal closure in US history.
3) Treasury Secretary Scott Bessent said President Trump’s proposal to send $2,000 “dividend” payments from tariffs to US citizens would require congressional approval. Trump, who has touted the billions raised in US tariff revenue this year, has talked about the checks as public frustration mounts over the cost of living. Speaking to reporters on Air Force One on Friday, Trump said the checks would go out sometime next year to “everybody but the rich.”

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Bloomberg Daybreak Weekend: Nvidia Earnings Preview

Sat, 15 Nov 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Nvidia, Walmart, and Target.
In the UK – a look ahead to the European Business Summit.
In Asia – a look ahead to Japan’s upcoming GDP report.

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Trump Readies Tariff Cuts in Affordability Push; Fed Rate Cut Doubts Grow

Fri, 14 Nov 2025 10:34:29 +0000

On today's podcast:
1) President Trump is readying substantial tariff cuts designed to address high food prices and a series of new trade deals — including framework agreements with Argentina, Guatemala, El Salvador and Ecuador — as he seeks to address voter concerns over the cost of goods. The push comes after electoral victories for Democrats last week across a number of key state and local races where candidates stressed affordability concerns. Trade deals with Latin American countries unveiled Thursday will see the US reduce tariffs and barriers on common grocery items like beef, bananas, and coffee beans in a push to lower grocery bills that have for years frustrated Americans. Separately, Trump and other senior administration officials have previewed broader tariff exemptions that could cut levies on popular food products across the board. In interviews earlier this week on Fox News, Trump pledged to “lower some tariffs” on coffee while Treasury Secretary Scott Bessent suggested fruit imports would receive a break.
2) Homeland Security Secretary Kristi Noem announced $10,000 bonus checks for Transportation Security Administration officers who worked without pay during the six-week government shutdown, calling the payments a reward for “exemplary service” under strain. Speaking at Houston’s George Bush Intercontinental Airport on Thursday, Noem said the move would help employees who took extra shifts to keep security lines moving as paychecks stopped. The shutdown, the longest in US history, shuttered large parts of the federal government for 43 days and left more than 800,000 workers without pay. Aviation was among the hardest-hit sectors: the Federal Aviation Administration cut flight capacity by 10% at major airports as air-traffic controller shortages mounted, and more than 9,000 flights were canceled nationwide. While Congress passed a funding measure late Wednesday, officials said it could take days to restore normal operations and clear payroll backlogs.
3) Traders slashed the odds of a December US rate cut to below 50% after a string of Fed officials voiced skepticism about the need for a third straight move, citing the economy’s resilience and lingering uncertainty over inflation after the US shutdown. The question remains how the majority of policymakers are leaning, with several still uneasy about signs of labor-market weakness. Minneapolis Fed President Neel Kashkari said he didn’t support the US central bank’s last interest-rate cut, though he’s still undecided on the best course of action for its December policy meeting. Meantime, San Francisco Fed chief Mary Daly said it’s premature to decide whether policymakers should lower interest rates next month.

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Shutdown Ends as Trump Signs Spending Bill; Trump-Epstein Ties Back in Spotlight

Thu, 13 Nov 2025 10:54:57 +0000

On today's podcast:
1) President Trump signed legislation to end the longest government shutdown in US history, marking the official conclusion to a 43-day impasse that halted food aid to millions of households, canceled thousands of flights and forced federal workers to go unpaid for more than a month. Trump’s signature means the government can begin to resume normal operations, with federal workers expected back on the job starting Thursday. However it could still take days, or even weeks, for the federal bureaucracy to fully restart and dig out of the backlog after being closed since October 1st. Transportation Secretary Sean Duffy told reporters Wednesday he anticipated it could take as long as a week to start lifting flight restrictions at major airports.
2) Democrats have returned to pressing President Trump on his ties to Jeffrey Epstein, highlighting a selection of emails in which the late financier and convicted sex trafficker suggested the president knew of his activities. A congressional committee on Wednesday released some 20,000 pages of documents, pivoting attention away from the ongoing government shutdown and forcing the White House to respond to an issue that has frustrated the president and drawn scrutiny from parts of his base. The new information came the same day that a new House lawmaker was officially sworn into office. Adelita Grijalva, an Arizona Democrat, immediately signed a petition forcing a vote on legislation to compel the Justice Department to release files on Epstein.
3) Ukrainian President Volodymyr Zelenskiy implored European Union allies to overcome their divisions on the use of frozen Russian assets, saying fresh funding is critical for his war-battered economy to stay in the fight against Moscow. The EU has postponed until December a decision on tapping the Russian state assets to provide €140 billion ($162 billion) in loans to Ukraine, which needs new funding by early next year. Russia’s invasion has dragged well into its fourth year as Zelenskiy’s government deals with a battered economy and exhausted fighting forces in Europe’s worst conflict since World War II. With US funding halted, European governments have vowed to step up assistance to fend off a new threat from the Kremlin.

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House to Return for Shutdown Vote; Trump to Host Finance CEOs at White House

Wed, 12 Nov 2025 10:35:04 +0000

On today's podcast:
1) The US House of Representatives will be back at work Wednesday for the first time in 53 days to vote on a bill that would end the longest government shutdown record. The legislation would relieve the sharpest pain points, including delayed SNAP benefits, air travel chaos and government worker furloughs. But it won’t address the main trigger for the shutdown: the expiration of Obamacare premium subsidies that prompted Democrats to block a government funding bill in the first place. The small group of centrist Democrats who broke ranks with their party to end the shutdown won a promise from Senate Majority Leader John Thune that he’ll allow a vote on extending the subsidies - but no guarantees are in place. While some moderate Senate Republicans want to see the subsidies extended with conditions, like an income cap or minimum monthly payment, leading GOP voices on health-care policy are starting to pitch on alternative plans.
2) President Trump will host financial industry executives for dinner Wednesday at the White House, according to two officials familiar with the plans, the latest effort by the administration to bring the country’s business elite behind his policies. JPMorgan Chase & Co. CEO Jamie Dimon is among the attendees, one of the officials said, speaking on condition of anonymity to detail the president’s plans. Nasdaq’s Adena Friedman was also among the chief executive officers invited, along with Goldman Sachs Group’s David Solomon, BlackRock’s Larry Fink and Morgan Stanley’s Ted Pick, according to people briefed on the event. The dinner comes as Trump faces rising political pressure on the economy and affordability — issues that anchored Democratic electoral wins in New Jersey and Virginia last week.
3) Advanced Micro Devices - Nvidia's closest rival in AI chips - predicts accelerating sales growth over the next five years, driven by strong demand for its data center products. Annual revenue growth will average more than 35% over the next three to five years, Chief Executive Officer Lisa Su said Tuesday at a company event in New York. AMD’s AI data center revenue will increase by an average of 80% over the same period, she said. The stock rallied in extended trading Tuesday after executives also said adjusted profit will reach more than $20 a share and operating margin will exceed 35% in that time frame. AMD updated investors on its long-term outlook amid increasing concern that the massive spending on new computer systems for artificial intelligence work can’t continue at the current elevated levels.

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US Shutdown Nears End as Senate Passes Deal; Trump Teases India Trade Pact

Tue, 11 Nov 2025 10:37:26 +0000

On today's podcast:
1) A record-setting 41-day US government shutdown is on a path to end as soon as Wednesday after the Senate passed a temporary funding measure backed by a group of eight centrist Democrats. The Senate’s 60-40 vote Monday comes amid escalating flight disruptions, food aid delays and frustrations in a federal workforce that has mostly gone without pay for more than a month. The Republican-controlled House must still approve the spending package, which keeps most of the government open through Jan. 30 and some agencies through Sept. 30. But Speaker Mike Johnson said he expects it will pass quickly.
2) Air travel disruptions mounted across the US as lawmakers pushed to end the federal government shutdown, with an air traffic controllers’ union warning of “the erosion of safety” as the critical workers missed their second-straight full paycheck. Almost 2,100 flights were canceled as of 6:15 p.m. in New York on Monday, according to data compiled by aviation analytics firm Cirium. That’s about 8.2% of the day’s 25,735 scheduled flights. Chicago O’Hare International Airport had the most cancellations, with nearly 25% of its scheduled flights scrapped. Over 16% of services in and out of Boston Logan Airport were scrubbed, as were 15% of trips at New York City’s LaGuardia Airport. The growing fallout stems from the Federal Aviation Administration’s directive to reduce flight capacity by 10% at the roughly 40 busiest US airports, a bid to alleviate what US aviation officials have said are signs of strain in the nation’s airspace system.
3) President Trump said he “at some point” would reduce the tariff rate on Indian goods, saying the US was getting “pretty close” to a trade deal with New Delhi. The comments were the latest signal of a possible thaw in the trade dispute that has soured the relationship between Washington and New Delhi. Earlier this year, Trump slapped additional tariffs on India’s exports to the US in part to pressure New Delhi to stop buying Russian oil, raising the rates on many Indian goods to 50%. That added tensions to an already contentious negotiation over what the US has cast as India’s high levies and other barriers on American goods.

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Senate Advances Plan to End Shutdown; Trump Teases $2000 Tariff Dividend

Mon, 10 Nov 2025 10:37:04 +0000

On today's podcast:
1) Democrats entered the shutdown seeking to renew tax credits to stave off insurance premium price hikes and to show voters they have the stomach for hardball negotiations in President Trump’s Washington. As the record-long shutdown neared its end more than a month later, they failed to achieve either. A group of eight Democrats on Sunday broke with the rest of their party — including Senate Minority Leader Chuck Schumer — to vote with Republicans to advance a bill to re-open the government on the impasse’s 40th day. That plan doesn’t include the extension of the Affordable Care Act subsidies that Democrats staked their shutdown fight on. They did get a pledge for a separate vote on the health-care tax credits in the coming weeks, but the prospects of Democrats landing a win from that endeavor are far from certain.
2) More than 10,000 flights in the US were delayed or canceled on Sunday as snowy weather in Chicago added to the stress for airlines coping with a third day of US government-mandated restrictions on air travel. The bottlenecks were worst at New York’s airports, where federal officials imposed ground stops and ground delays to meter traffic. At LaGuardia Airport, more than half of departures were delayed, compared with 36% at Newark Liberty International Airport and 32% at John F. Kennedy International Airport, according to FlightAware. By late afternoon, 8,100 flights were delayed and 2,300 were canceled nationwide. Chicago’s O’Hare International Airport also faced hundreds of delays and cancellations as a winter storm threatened the airport, a major hub for United Airlines Inc. and American Airlines. About 190 flights were canceled at Delta Air Lines Inc.’s home base at Atlanta’s Hartsfield-Jackson International Airport.
3) Treasury Secretary Scott Bessent said President Trump’s suggestion that Americans may receive a tariff “dividend” of at least $2,000 could come via the tax cuts passed in his signature economic policy bill earlier this year. Bessent was asked on ABC’s This Week about a social media post by Trump earlier Sunday that derided people who oppose tariffs and said a “dividend of at least $2000 a person (not including high income people!) will be paid to everyone.” Trump has been stepping up his defense of his tariffs regime since the Supreme Court on Nov. 5 heard arguments for a suit to get them thrown out. Several justices seemed skeptical, raising the possibility many of the levies could be overturned, forcing more than $100 billion in refunds and taking away a centerpiece of his second term.

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Daybreak Weekend: Disney Earnings, Portugal Web Summit, China Singles’ Day

Fri, 07 Nov 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Walt Disney and Paramount-Skydance.
In the UK – a look ahead to Portugal’s Web Summit.
In Asia – a look ahead to China Singles’ day.

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US Flights Cut as Shutdown Drags On; Musk's $1T Tesla Pay Package Approved

Fri, 07 Nov 2025 10:36:04 +0000

On today's podcast:
1) Airlines across the US have started canceling flights scheduled for the coming days, as the longest government shutdown in history upends air travel and leaves thousands of passengers scrambling to firm up plans. With about 700 Friday flights already canceled by the four largest airlines, the world’s busiest aviation market has become a flashpoint in the long-simmering clash between Republicans and Democrats over federal funding as President Trump ramps up pressure to forge a deal. The Republican-led administration has said the reductions are necessary to keep flying safe amid staffing shortages brought on by the shutdown. At least one top congressional Democrat has called for more transparency to ensure the move isn’t politically motivated.
2) Tesla Inc. shareholders approved a $1 trillion compensation package for Chief Executive Officer Elon Musk, the largest payout ever awarded to a corporate leader. More than 75% of the votes cast were in favor of the unprecedented pay plan, the company said Thursday at its annual meeting. The outcome caps a weekslong campaign by the electric vehicle maker’s board, its CEO and prominent retail investors to build support. The pay agreement clears a path for Musk, the world’s richest person, to become the first-ever trillionaire and expand his stake in Tesla to 25% or more over the next decade. To achieve the full payout, he’ll have to deliver on targets to significantly expand Tesla’s market value, revive its flagging car business and get the fledgling robotaxi and Optimus robotics efforts off the ground.
3) China’s exports unexpectedly contracted in October as global demand failed to offset the deepening slump in shipments to the US, dealing a blow to an economy already slowing amid sluggish consumer spending and investment at home. Exports fell for the first time in eight months, dropping 1.1% from a year earlier, according to official data released Friday. Shipments to all nations except the US rose 3.1%, not enough to compensate for the more than 25% decline to America. Chinese exports have been resilient until now, as other destinations made up for drops in shipments across the Pacific Ocean. Sales abroad had grown every month since February, when activity slowed because of the Lunar New Year holiday.

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US to Cut 10% of Flights; Longest-Ever Shutdown Hurts Republicans in Elections

Thu, 06 Nov 2025 10:41:51 +0000

On today's podcast:
1) The US will cut flight capacity by 10% at 40 high-volume markets across the country, though international routes will be spared, to alleviate pressure on air traffic controllers and the aviation system during what is now the longest government shutdown in history. The changes will start Friday, Transportation Secretary Sean Duffy said during a press briefing alongside the leader of the Federal Aviation Administration, Bryan Bedford. The agency plans to release the markets impacted on Thursday. The reductions are expected to be staggered, with US carriers informed Wednesday night that they should plan to cut flight volumes by 4% on Friday and 5% on Saturday, according to people familiar with the matter.
2) The US government shutdown has become the longest in history, and with no sign of a resolution soon its economic toll is deepening. Now in its 37th day, the shutdown has surpassed the previous record set in early 2019 during President Trump’s first term. Every week that passes costs the economy anywhere from $10 billion to $30 billion, based on analysts’ estimates, with several landing in the $15 billion range. Senate Democrats, bolstered by big election wins for their party Tuesday, are doubling down on demands for Republicans to negotiate extending Obamacare premium tax credits, or see the government shutdown drag on.
3) Zohran Mamdani clinched New York City’s mayoral race by campaigning against wealth inequality and promoting affordability. Now, he faces the challenge of delivering on the promises that got him elected while coming to the table with the city’s wealthiest residents, who have an outsized influence on the city’s politics, economy and revenue. At least one early Mamdani appointment shows that he is intent on taking a progressive approach toward business and economics. The mayor-elect has tapped former Federal Trade Commission chair Lina Khan to his transition team, a figure who raised the ire of corporations and dealmakers with her tough stances on antitrust cases. But Mamdani also said on Wednesday that he looks forward to meeting with JPMorgan Chase & Co.’s Jamie Dimon and other business leaders to discuss the city’s future, emphasizing the need for collaboration despite policy differences.

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Democrats Sweep on Election Night; Supreme Court to Hear Tariff Arguments

Wed, 05 Nov 2025 11:01:18 +0000

On today's podcast:
1) Democrats swept the three major local elections in the US on Tuesday by wider-than-expected margins, giving the beleaguered party a much-needed boost 10 months into President Donald Trump’s second term. In New York, voters elected 34-year-old Zohran Mamdani, a democratic socialist, as mayor after he deployed a social media-savvy campaign and joined up with two progressive icons, Vermont Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez. Mamdani — who will be New York’s first Muslim and South Asian mayor when he takes office Jan. 1 — campaigned on making the global business hub more affordable by using higher taxes on the wealthy to pay for free buses and city-run grocery stores, overcoming many voters’ concerns about his pro-Palestinian views.
2) Abigail Spanberger, a 46-year-old former CIA officer who left the House of Representatives after three terms in January, will be the first female governor in Virginia, a state that’s front-and-center in the battle over the government shutdown and efforts to trim the federal workforce. Likewise in New Jersey, Representative Mikie Sherrill, a former Navy helicopter pilot, won a race in which pocketbook concerns about utility bills, health care and schools were more central than culture war issues or government giveaways. About 6 in 10 voters in Virginia and New Jersey described themselves as “angry” or “dissatisfied” with the current state of the country, according to an exit poll conducted by the Associated Press, compared to just one-third who said they were “enthusiastic” or “satisfied.” Meanwhile, California voters passed a ballot measure that could flip as many as five congressional seats to Democrats from Republicans, handing Governor Gavin Newsom a major political victory in his fight against President Trump.
3) The fate of the majority of President Trump’s tariffs is in the hands of the US Supreme Court after lower courts ruled that they were issued illegally under an emergency law. The tariffs have remained in place to allow the Trump administration to appeal to the highest court, which is scheduled to hear arguments today. The Supreme Court case doesn’t touch upon the duties imposed on certain product categories using different legal foundations. For example, the Trump administration has put in place levies on steel, aluminum, automobiles, copper products and lumber by harnessing Section 232 of the 1962 Trade Expansion Act. Those tariffs depend on Commerce Department investigations that concluded that imports of such products pose a national security risk.

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NYC, NJ and VA in Focus on Election Day; Shutdown Pressure Builds

Tue, 04 Nov 2025 11:12:38 +0000

On today's podcast:
1) Zohran Mamdani’s lead heading into the New York City mayoral election has withstood a furious push from Republicans, establishment Democrats and a coalition of Wall Street dealmakers. Aspects of Mamdani’s campaign that some thought would doom his candidacy — his vociferous criticism of Israel’s actions in Gaza, his past calls to defund the police and his refusal to flee from the political label of socialist — haven’t turned off a plurality of New York voters, despite a torrent of campaign spending from some of the city’s wealthiest residents. Instead, the 34-year-old assemblyman’s campaign — with its focus on core economic concerns combined with an online charm offensive and occasional searing barb at his critics — is working well enough that some political observers see a model for future Democratic candidates and races. Nationally, Tuesday’s results could provide a muddled message for Democrats.
2) Governors’ races in Virginia and New Jersey and California’s redistricting ballot measure are among the elections on ballots Tuesday, providing a barometer of voter sentiment ahead of the 2026 midterm elections. While Mamdani’s progressive campaign has given him a lead in New York, the candidates leading the polls in governor’s races in New Jersey and Virginia — Representative Mikie Sherrill and former Representative Abigail Spanberger, respectively — come from the more centrist range of the Democratic spectrum.
The race in New Jersey has tightened in the past few weeks between Democratic Representative Mikie Sherrill and Republican Jack Ciattarelli, as voters express dismay over high electricity bills and general affordability issues under the state’s current Democratic governor. Republicans would love to eke out a victory there — even as polls narrowly favor Sherrill — after President Donald Trump endorsed Ciattarelli and called him “100% (PLUS!)” on the MAGA agenda.
In Virginia, Democratic Representative Abigail Spanberger looks likely to prevail over the Republican Lieutenant Governor Winsome Earle-Sears. The huge number of federal workers in Northern Virginia, frustrated by the government shutdown and the DOGE cuts, gave Spanberger a built-in constituency. And she’s made sure to talk about issues key to local voters — inflation, schools, health care — rather than solely going with an anti-Trump message. If Democrats lose one of these races, expect even more hand-wringing over the party’s tarnished national brand and its inability to capitalize on Trump’s unpopularity.
3) As the government shutdown enters its 34th day, lawmakers face mounting pressure to reach a resolution. Major US airports are facing staffing shortages leading to ground delays, the distribution of food assistance is up in the air, and more federal workers are missing paychecks as the shutdown is on track to become the longest in history. Senators are increasingly optimistic about finding a path to reopen the government, but any resolution will likely have to wait until after tomorrow’s off-year elections, which could sway either side to move depending on the results.

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Trump Talks Taiwan, Shutdown on 60 Minutes; Supreme Court to Hear Tariff Case

Mon, 03 Nov 2025 10:56:45 +0000

On today's podcast:
1) President Trump sat down with CBS' 60 Minutes - as heard on Bloomberg Radio - for a long-ranging discussion on the government shutdown, tariffs, and border security. Trump says immigration raids “haven’t gone far enough” despite videos showing physical confrontations among federal agents, immigrants and protesters. Trump also said that he could use the Insurrection Act to use professional military, instead of the National Guard, to US cities “if I wanted to.” The president’s comments come after his administration expanded a federal program that deputizes local police to enforce immigration laws, signing up nearly 16,000 officers across 40 states as part of an effort to boost deportations, according to data reviewed by Bloomberg News.
2) President Trump said he would skip attending the Supreme Court hearing this week over the legality of his worldwide tariffs regime. The court is scheduled on Wednesday to hear Trump’s appeal of a lower court’s ruling that many of his “Liberation Day” tariffs exceeded the president’s emergency power to regulate imports. Trump had said he felt an “obligation” to watch in person as the Supreme Court weighed his power to impose tariffs. If he had attended, he would have been the first sitting president in US history to attend oral arguments at the high court.
3) The summit between Chinese President Xi Jinping and President Trump was a breakthrough in bilateral relationship where the Asian giant was treated as an “equal partner” of the US, according to David Daokui Li, a regular policy adviser to Beijing. Speaking to Bloomberg TV on Monday, Li described a sense of enthusiasm among his peers in Beijing following the leaders’ meeting in South Korea last week. The exchange led to a one-year trade truce, although it didn’t address core differences between the world’s two largest economies.

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Earnings Season Rolls On, Bank of England Rate Decision, Chinese Economic Data

Fri, 31 Oct 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week

In the US – a look at how earnings are impacting global markets
In the UK – we preview the Bank of England rate decision
In Asia – looking ahead to the RBA Decision and Chinese economic data

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Apple & Amazon Ease Megatech Nerves; Trump Says GOP Should Ditch Filibuster

Fri, 31 Oct 2025 09:55:34 +0000

On today's podcast:

1) The mood in US stock markets has been lifted again by strong earnings from Apple and Amazon to round up the week of mega-cap results. Futures for both the S&P 500 and Nasdaq 100 were higher after both indexes sunk on Thursday. Apple forecast a major surge in sales for the holiday season to provide assurance to investors that the iPhone remains a growth driver, while Amazon’s cloud division notched its best quarterly growth in almost three years. That’s smoothed out the setback in the big tech and AI narrative from the mixed reception to results from Meta Platforms, Microsoft and Alphabet.

2) Nvidia CEO Jensen Huang still hopes to sell chips from the company’s Blackwell lineup to customers in China, though he has no current plans to do so, he told reporters Friday. Blackwell is Nvidia’s latest generation of artificial intelligence semiconductors, figuring prominently as a potential bargaining chip in trade talks between the US and China. Licensing the sale of those products did not figure in the discussion between President Trump and his Chinese counterpart Xi Jinping this week, with the US leader saying Nvidia and the Chinese government will have to keep talking about the $5 trillion company’s access to the Asian nation’s market.

3) President Trump called on Senate Republicans to vote to get rid of the filibuster in the upper chamber, amid a government shutdown that has lasted nearly a month. Because of the filibuster rule in the US Senate, most legislation needs 60 votes to pass. While a majority of lawmakers could revise those rules, both parties have largely resisted doing so to preserve their ability to shape legislation when outside of the majority. During the recent funding showdown, Democrats have refused to support a Republican bill offering stopgap funding unless the GOP agrees to extend healthcare subsidies.

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Trump and Xi Ease Trade Tensions; Big Tech Earnings in Focus

Thu, 30 Oct 2025 10:04:29 +0000

On today's podcast:

1) President Trump and Chinese President Xi Jinping agreed to extend a tariff truce, roll back export controls and reduce other trade barriers in a landmark summit on Thursday, potentially stabilizing relations between the world’s biggest economies after months of turmoil.
In the first sitdown between leaders since Trump’s return to the White House, the pair agreed China would pause sweeping controls on rare-earth magnets in exchange for what Beijing said was a US agreement to roll back an expansion of restrictions on Chinese companies. The US will also halve fentanyl-related tariffs on Chinese goods, while Beijing resumes purchases of soybeans and other agricultural products.

The US is also extending a pause on some of its so-called reciprocal tariffs on China “for an additional year,” the Commerce Ministry in Beijing said in a statement, adding that China “will properly resolve issues related to TikTok with the US side.” Trump said he would visit China next April, with Xi planning to head to the US afterward. Despite speculation that Trump might make additional concessions — including the US opening access to Nvidia Corp.’s most advanced Blackwell line or changing its policy toward Taiwan — the president indicated that those issues hadn’t been part of the discussions. Trump and Xi did discuss access to some of the chipmaker’s other products, however, with the US president saying he planned to speak with Nvidia CEO Jensen Huang.

2) The largest technology companies are betting on an AI future powered by gigantic complexes of data centers filled with humming servers. Now that the staggering cost of this push is coming into sharper focus, it’s testing nerves on Wall Street. Three bellwethers from different corners of the technology world – Alphabet Inc., Meta Platforms Inc. and Microsoft Corp. — together racked up some $78 billion in capital expenditures last quarter. That’s up 89% from a year earlier. Most of that cash was destined for data center construction and graphics processing units and other gear to fill them. Each increased their forecasts for future outlays. That was enough to rattle investors conditioned to expect enormous spending.

3) Treasuries fell the most in nearly five months after Federal Reserve Chair Jerome Powell cast doubt on a December interest-rate cut, even as a sagging labor market prompted policymakers to bring down borrowing costs Wednesday. While the central bank delivered a widely expected reduction in the benchmark lending rate to 3.75%-4%, Powell’s hawkish outlook ruffled the $30 trillion US bond market. At his afternoon press conference, Powell said a further reduction in rates at the December meeting “is not a foregone conclusion,” sending yields across tenors up by the most since June.

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Trump Teases Xi Talks at APEC; Vance Expects Troop Payments Despite Shutdown

Wed, 29 Oct 2025 09:53:51 +0000

On today's podcast:
1) President Trump said the US has a “special bond” with South Korea as he addressed a meeting of corporate leaders at the Asia-Pacific Economic Cooperation summit on Wednesday in Gyeongju. Trump’s visit to the conference comes as he’s looking to work through a series of outstanding issues in his trade deal with South Korea, and prepares for a high-stakes meeting on Thursday with Chinese President Xi Jinping. Meanwhile, Trump said he expects to lower tariffs the US has imposed on Chinese goods over the fentanyl crisis and speak with China’s Xi Jinping about Nvidia Corp.’s flagship Blackwell artificial intelligence chip, as leaders of the world’s biggest economies seek to ease tensions in a meeting on Thursday. Nvidia shares rallied in premarket trading on Wednesday, putting the stock on track to breach $5 trillion in market capitalization, making the semiconductor giant the first public company in history to hit the milestone.
2) Hurricane Melissa made landfall in Cuba less than a day after it became the strongest recorded storm to strike Jamaica, where it left hundreds of thousands without power and forced hospitals to evacuate. Melissa crossed the coast in eastern Cuba as an “extremely dangerous” storm, the US National Hurricane Center said in a statement at about 3:10 a.m. Eastern Time on Wednesday. As much as 25 inches (63 centimeters) of rain and storm surges up to 12 feet (3.7 meters) above normal are expected.
3) Vice President JD Vance said Tuesday he expects the Trump administration to pay military personnel on Friday, even as the government shutdown shows no end in sight. The administration circumvented Congress and moved about $8 billion in research and development funds to cover the military’s payroll on Oct. 15. But Republicans have cautioned that they could not guarantee paychecks for troops if the shutdown persisted.

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Trump Hails Japan Alliance; Hurricane Melissa Nears Jamaica at Category 5 Strength

Tue, 28 Oct 2025 09:52:37 +0000

On today's podcast:
1) President Trump hailed the US’s alliance with Japan, reaffirming ties with a longstanding partner and praising new Prime Minister Sanae Takaichi on her plans to ratchet up defense spending as the pair met in Tokyo. Trump also offered optimism that the two sides had overcome their trade disputes. The pair later signed documents on trade and critical minerals intended to formalize some elements of a trade deal brokered under Takaichi’s predecessor, which includes a nebulous pledge for Japan to fund $550 billion in US projects. But documents from the White House on Tuesday suggested that the agreements remained ill-defined. The trade document simply “noted with satisfaction swift and continued efforts by both countries, and confirmed their strong commitment to implementing” their trade deal.
2) Jamaican officials urged residents to brace for Hurricane Melissa as it tracked toward the island at Category 5 strength, packing intense rains and winds and threatening to cause widespread destruction. The storm’s winds are likely to cause “total structural failure,” the center said. That’s especially true for higher-elevation areas exposed to the brunt of the storm, where wind speeds could register as much as 30% stronger. If it maintains its strength, Melissa would be the first confirmed Category 5 storm — the highest on the Saffir-Simpson scale — to hit Jamaica.
3) The Federal Reserve is expected to deliver a second straight interest-rate cut this week to support a wobbly job market. Any push to extend the easing cycle past October, however, may face renewed opposition from a group of officials who remain anxious over inflation. While the Fed’s dovish faction is, for now, winning the debate and securing lower rates, their rival camp of policymakers worry the cutting will go too far. Fresh data on consumer prices released Friday showed underlying inflation in the US rose in September at its slowest pace in three months. While that reaffirms the Fed’s plan to cut rates next week, the overall flat-lining of progress on cooling prices doesn’t bolster arguments for multiple additional cuts.

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Stocks Rise as US Nears China Trade Deal; Trump Says He Won't Resume Canada Talks

Mon, 27 Oct 2025 09:32:04 +0000

On today's podcast:
1) Top trade negotiators for the US and China said they came to terms on a range of contentious points, setting the table for leaders Donald Trump and Xi Jinping to finalize a deal and ease trade tensions that have rattled global markets. After two days of talks in Malaysia wrapped up Sunday, a Chinese official said the two sides reached a preliminary consensus on topics including export controls, fentanyl and shipping levies. US Treasury Secretary Scott Bessent, speaking later in an interview with CBS News, said Trump’s threat of 100% tariffs on Chinese goods “is effectively off the table” and he expected the Asian nation to make “substantial” soybean purchases as well as offer a deferral on sweeping rare earth controls.
2) President Trump said he didn’t anticipate meeting with Canada “for a while” as he continued to stew over a TV advertisement by the province of Ontario that criticized his tariff regime. Trump in recent days has said he was increasing the tariff on goods from Canada by 10% over the ad, which features excerpts of former US President Ronald Reagan criticizing tariffs. Ontario Premier Doug Ford had said he would stop airing the ad after the weekend, but Trump has expressed frustration that the Canadian leader didn’t move to immediately pull the commercial, which has aired during US broadcasts of the World Series.
3) As the US government shutdown stumbles toward the one-month mark, the effects of the standoff between Republicans and Democrats are being felt further away from the Capitol, as flights back up and food aid dwindles. US Transportation Secretary Sean Duffy warned that travelers will face more flight delays and cancellations in the coming weeks as the continuing shutdown exacerbates the air-traffic controller staffing crunch.

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Daybreak Weekend: Fed Meeting, US Tech, European Defense Earnings

Fri, 24 Oct 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the next Fed meeting and earnings from U.S tech giants.
In the UK – a look ahead to European defense earnings.
In Asia – a look at top interviews from the APEC Finance Ministers' Meeting in South Korea.

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Trump Seeks Elusive China Trade Deal; US Terminates Canada Trade Talks

Fri, 24 Oct 2025 09:49:52 +0000

On today's podcast:
1) President Trump is aiming for a quick win in a pivotal Thursday meeting with Chinese counterpart Xi Jinping, even if the outcome falls short of the sweeping deal he’s teased on issues at the heart of the rivalry between the world’s two largest economies. Ahead of the sit-down, the US president said he wants to extend a pause on higher tariffs on Chinese goods in exchange for Xi resuming American soybean purchases, cracking down on fentanyl and backing off restrictions on rare-earth exports — all while maintaining some trade barriers he sees as essential.
2) President Trump said he would immediately halt all trade negotiations with Canada, citing a Canadian advertisement against his signature tariffs plan featuring the voice of former President Ronald Reagan. The ad in question comprises excerpts from an address Reagan gave in 1987 in which he defended the principles of free trade and slammed tariffs as an outdated idea that stifles innovation, drives up prices and hurts US workers. Funded by the government of Ontario, the ad seeks to sow doubt among Republican voters by using one of the party’s most iconic voices.
3) Senate Democrats blocked a Republican measure aimed at paying military troops and some federal workers during the US government shutdown in the latest sign the spending deadlock shows no sign of ending. The vote on Thursday to advance the bill failed on a 54 to 45 vote, with 60 votes needed. Democrats have blocked a temporary spending measure 12 times in the Senate since, arguing that they cannot support it without new healthcare spending attached. Despite the ongoing shutdown, the Bureau of Labor Statistics is set to release the long-delayed September CPI report on Friday at 8:30 a.m. Eastern time.

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US Sanctions Russian Oil Giants; China Says US Trade Talks Set for Friday

Thu, 23 Oct 2025 09:53:35 +0000

On today's podcast:
1) Oil rallied after the Trump administration announced sanctions on Russia’s biggest oil producers, rolling out its first major package of financial punishments on President Vladimir Putin’s economy as part of a fresh bid to end the war in Ukraine. The Treasury Department blacklisted state-run oil giant Rosneft PJSC and Lukoil PJSC because of “Russia’s lack of serious commitment to a peace process to end the war in Ukraine,” according to a statement on Wednesday. The sanctions mark a U-turn for Trump, who had announced last week he would meet Putin in the coming weeks and said repeatedly he believed Russia wanted to end the war.
2) Chinese Vice Premier He Lifeng plans to meet with US officials in Kuala Lumpur from Oct. 24 to 27 for the next round of trade talks, aimed at defusing a standoff between the world’s two largest economies. The meeting will take place in the Malaysian capital to “discuss important issues” in the bilateral trade ties, the Commerce Ministry said in a Thursday statement. He, Beijing’s top trade negotiator, held a call with Treasury Secretary Scott Bessent last week ahead of the planned in-person summit.
3) Former New York Governor Andrew Cuomo sought to cast State Assemblyman Zohran Mamdani as a frontrunner unprepared to actually be mayor of the largest US city in the final debate before New York City’s mayoral election. Mamdani, the 34-year-old Queens state lawmaker and democratic socialist, shocked New York City’s establishment when he won the Democratic primary for mayor in June, besting Cuomo by more than 12 points in a race where nearly every poll predicted Cuomo would win. The debate comes as some Republicans and prominent donors are calling upon GOP candidate Curtis Sliwa, founder of the Guardian Angels, to exit the race in order to help improve Cuomo’s odds against Mamdani.

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Tech Earnings Disappoint; Trump Sends Mixed Signals on Xi Meeting

Wed, 22 Oct 2025 09:31:54 +0000

On today's podcast:
1) Netflix shares fell in premarket trading on Wednesday after the streaming-video company reported third-quarter results it said were hurt by a tax dispute with Brazil. The results came in the wake of reports that Netflix and Comcast are among the companies weighing bids for parts of Warner Bros Discovery. Warner's board will evaluate “a broad range” of options, including a planned split-up of the company by mid-2026, an outright sale or separate deals for its studios and streaming or cable-TV units, according to a statement Tuesday. Separately, shares of Texas Instruments fell after the chipmaker gave an outlook that is weaker than expected, indicating that some customers are slowing orders as they navigate mounting trade tensions.
2) Anthropic PBC is in discussions with Alphabet Inc.’s Google about a deal that would provide the artificial intelligence company with additional computing power valued in the high tens of billions of dollars, according to people familiar with the matter. The plan, which has not been finalized, involves Google providing cloud computing services to Anthropic, according to the people, who asked not to be named because the information is private. The deal will allow Anthropic to use Google’s tensor processing units, or TPUs — the company’s chips that are custom designed to accelerate machine learning workloads, one of the people said. Google is a previous investor in, and cloud provider for, Anthropic.
3) President Trump predicted an upcoming meeting with his Chinese counterpart, Xi Jinping, would yield a “good deal” on trade — while also conceding that the highly anticipated talks may not happen. While Trump foresaw the sit-down as being “very successful,” he said the possibility remains that it could fail to materialize. The two leaders are scheduled to meet later this month at the Asia-Pacific Economic Cooperation summit in South Korea.

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US, Australia Ink Rare Earths Deal; Supreme Court to Hear Trump Tariffs Case

Tue, 21 Oct 2025 09:36:48 +0000

On today's podcast:
1) President Trump signed a landmark pact with visiting Australian Prime Minister Anthony Albanese to boost America’s access to rare earths and other critical minerals, an effort to counter China’s tight grip on the supply chains of key metals. The two governments will jointly invest in a swathe of mines and processing projects in Australia to boost production of commodities used in advanced technologies from electric vehicles to semiconductors and fighter planes. Australia has an $8.5 billion “pipeline that we have ready to go,” Albanese said at a meeting between the two leaders at the White House.
2) Small businesses are urging the US Supreme Court to affirm lower court rulings that President Trump's global tariffs amount to a massive illegal tax on American companies. The justices are set to hear arguments on whether Trump legally issued the tariffs under the 1977 International Emergency Economic Powers Act, a law that gives the president financial tools to address national security, foreign policy and economic emergencies.
3) Senate Majority Leader John Thune says he will wait until President Trump meets with Russian President Vladimir Putin in the coming weeks before deciding to whether to bring legislation on Russia sanctions to a vote. The bill would give Trump the authority to impose tariffs of up to 500% on imports from countries that buy Russian energy products and are not actively supporting Ukraine. This specifically targets major consumers of Russian energy, such as China and India.

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Israel Says Gaza Truce Resumes; Trump Lists Top China Demands

Mon, 20 Oct 2025 09:36:40 +0000

On today's podcast:
1) Israel said it had resumed a truce with Hamas in Gaza after heavy fighting over the weekend, with the sides accusing each other of breaching a deal brokered by President Trump. Around 9:30 p.m. Israel time on Sunday, the Israel Defense Forces said it had “begun renewed enforcement of the ceasefire” and warned it would “respond firmly to any violation.” Israel launched strikes against Hamas in Gaza and suspended aid shipments on Sunday after blaming the Iran-backed militant group for an ambush that killed two soldiers in the southern part of the strip. The IDF said it responded by hitting weapons-storage facilities and other sites. It also said it dismantled several kilometers of underground tunnels.
2) President Trump listed rare earths, fentanyl and soybeans as the US’s top issues with China just before the two sides return to the negotiating table and as a fragile trade truce nears expiration. Trump also said the US wanted China “to stop with the fentanyl,” a reference to his accusation that Beijing has failed to curb exports of the drug and its precursor chemicals, contributing to the American opioid crisis. Another key demand was for the world’s No. 2 economy to resume soybean purchases. The three topics were all “very, you know, normal things,” he added.
3) Japan’s ruling Liberal Democratic Party will sign a coalition deal with the Japan Innovation Party later Monday, according to the smaller party’s leader, a move that would set up Sanae Takaichi to become the country’s first female prime minister. The LDP and the JIP, also known as Ishin, have broadly reached an agreement and will announce the deal at 6 p.m., Hirofumi Yoshimura, Ishin’s co-leader told reporters, after speaking with Takaichi earlier in the day.

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Daybreak Weekend: Tesla Earnings, European Banks, Trump-Albanese Meeting

Fri, 17 Oct 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Tesla and Netflix.
In the UK – a look ahead to European bank earnings.
In Asia – a look ahead to a meeting between President Donald Trump and Australia Prime Minister Anthony Albanese.

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Trump Announces Putin War Summit; NYC Mayoral Candidates Spar at Debate

Fri, 17 Oct 2025 09:53:21 +0000

On today's podcast:
1) President Trump said he would hold a second meeting with Russian President Vladimir Putin “within two weeks or so” aimed at ending the war in Ukraine. Trump and Putin agreed to meet in Budapest during a two-hour phone call on Thursday. Later, Trump expressed optimism that the summit could result in a ceasefire breakthrough even though an August meeting in Alaska failed to yield one. The conversation took place a day before Trump’s White House meeting with Ukrainian President Volodymyr Zelenskiy on Friday, who has pressed the US president to sell his country long-range Tomahawk missiles that can strike deeper into Russian territory.
2) Zohran Mamdani and Andrew Cuomo sparred over experience and integrity in a heated New York City mayoral debate, while Republican Curtis Sliwa took aim at both rivals. Cuomo attacked Mamdani’s policies as radical, while Mamdani hit back over the former governor’s pandemic handling and harassment allegations. With the presence of President Trump looming large, candidates also clashed over public safety, antisemitism, and political credibility.
3) Three weeks into the federal government shutdown, President Trump has avoided direct involvement in talks to end the stalemate, despite Democratic calls for him to lead negotiations. Republican leaders continue to resist linking health care subsidies to any funding deal, while the administration pushes forward with unilateral budget cuts and federal layoffs.

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US Floats China Trade Truce; Judge Pauses Shutdown Layoffs

Thu, 16 Oct 2025 09:39:40 +0000

On today's podcast:
1) President Trump said he authorized the Central Intelligence Agency to take covert action in Venezuela, citing the flow of drugs and illegal migrants into the US. Trump stated that Venezuelan leaders had "emptied their prisons in to the United States of America" and "we have a lot of drugs coming in from Venezuela".
2) A federal judge in California froze the Trump administration's latest round of layoffs, saying the move is likely "illegal and in excess of authority." The judge issued a temporary restraining order to block terminations nationwide that were started last week and ordered the administration to provide a full accounting of all employees laid off and planned future layoffs.
3) US Treasury Secretary Scott Bessent said the possibility of extending a pause of import duties on Chinese goods for longer than three months exists if China halts its plan for strict new export controls on rare-earth elements. The US and China have agreed to a series of 90-day truces, with the next deadline looming in November, and economists describe the latest moves by both sides as attempts to stack up bargaining chips ahead of a likely leaders’ meeting.

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Trump Threatens Chinese Cooking Oil; Shutdown Program Cuts

Wed, 15 Oct 2025 09:37:01 +0000

On today's podcast:
1) President Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world’s two largest economies. Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans, which he said “is an Economically Hostile Act” that is purposefully “causing difficulty for our Soybean Farmers.” China remains well supplied with the oilseed, largely thanks to South American purchases.
2) President Trump pledged to release a list of federal programs slated for cuts later this week, the White House’s latest threat to slash the federal bureaucracy and put pressure on Democrats to end the impasse over the shutdown. The threat is the latest effort from the White House to make the shutdown — now in its 14th day — as painful as possible for Democrats. It also marks another end-run by the administration around Congress, which determines how federal funds are spent. The White House has already terminated more than 4,000 federal workers and suspended funding for clean energy and transportation programs in Democratic-run states, escalating the standoff with Democrats.
3) Federal Reserve Chair Jerome Powell signaled the central bank may stop shrinking its balance sheet in the coming months, an important shift necessary to preserve liquidity in overnight funding markets. The Fed chair also indicated labor-market prospects continue to worsen, a message that supports investors’ expectations for another interest-rate cut this month. Fed officials have been winding down the central bank’s balance sheet since 2022 — a process known as quantitative tightening — reversing trillions of dollars of asset purchases designed to stimulate the economy after the pandemic struck. Earlier this year, the Fed slowed the pace by reducing the amount of bond holdings it lets roll off every month.

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US-China Trade Tensions Flare; US Shutdown Enters Day 14

Tue, 14 Oct 2025 09:36:59 +0000

On today's podcast:
1) China has signaled it’s keeping communication channels open with the US after a series of tit-for-tat moves that intensified a confrontation between the world’s two biggest economies. The Ministry of Commerce on Tuesday reiterated “the door is open” to talks even as it defended China’s decision to implement export curbs on rare earths amid escalating trade tensions in recent weeks. The remarks came just hours after Treasury Secretary Scott Bessent said Beijing had failed to respond to US inquiries over the weekend following China’s announcement of export controls on products containing traces of certain rare earths. It marked China’s first major attempt to exercise long-arm jurisdiction over foreign companies that target the chip industry.
2) President Trump used a one-day tour of Israel and Egypt to soak in the praise from fellow leaders and lay out a vision for broader Middle East peace after the success of US-led mediation efforts to end the fighting in Gaza. Yet the nascent ceasefire remains fragile, with many key details left to be worked out. Trump said food and aid has begun to flow into Gaza, which has been devastated by the conflict. “Numerous countries of great wealth” have pledged reconstruction funds, Trump added, though he did not name them.
3) House Minority Leader Hakeem Jeffries is calling Democrats in his chamber back to Washington Tuesday - the 14th day of the government shutdown - despite GOP leadership nixing votes, according to a Democratic lawmaker and two leadership aides. House Republican leaders announced Friday that the chamber will stay out, after originally having been scheduled to be in session. This is the third week in a row Johnson has canceled votes, keeping House lawmakers in their districts amid the government shutdown.

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Gaza Hostage Exchange; Trump & Vance Open Door to China Deal

Mon, 13 Oct 2025 09:42:54 +0000

On today's podcast:
1) Hamas freed seven living Israeli hostages from the Gaza Strip on Monday morning, following a US-led deal reached late last week. The Palestinian militant group released them to the International Committee of the Red Cross and they were then passed over to the Israeli military. The rest of the living hostages, 13 in total, are expected to be freed later in the day. Around 10 a.m. Israel time, the Israeli military said the Red Cross is on its way to an additional meeting point in the southern Gaza Strip, where several more hostages will be handed over. The release of the first hostages came just before President Trump’s arrival in Israel for a Middle East trip to celebrate the ceasefire deal clinched last week, also with Egyptian, Qatari, Turkish mediation. Trump has said the agreement should end the devastating two-year conflict in Gaza.
2) President Trump’s administration signaled openness Sunday to a deal with China to quell fresh trade tensions while also warning that recent export controls announced by Beijing were a major barrier to talks. Vice President JD Vance called on Beijing to “choose the path of reason” in the latest spiraling trade fight between the world’s two leading economies, claiming that Trump has more leverage if the fight drags on. Trump later posted a statement that hinted at a possible off-ramp for Chinese President Xi Jinping while issuing a veiled threat that a full trade war would wound China.
3) President Trump said he is directing the Defense Department to use funds his administration has identified to deliver paychecks to US troops on Oct. 15 despite the ongoing government shutdown. More than a quarter of a million federal employees missed scheduled paychecks this week, with another 2 million expected to go without pay by next week, which would be the third week of the shutdown. Under current law, US troops aren’t guaranteed backpay during a shutdown, unlike civilian employees. The Pentagon’s next military payday, Oct. 15, was shaping up as a key pressure point in the ongoing standoff between Republicans and Democrats over a stopgap spending measure.

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Daybreak Weekend: US Bank Earnings, New Energy Summit, Gold’s Future

Fri, 10 Oct 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings for U.S banks.
In the UK – a look ahead to the annual New Energy Finance summit in London.
We also focus on a conversation with Citadel CEO Ken Griffin from Citadel’s securities conference on gold.

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Israeli Cabinet Backs Gaza Deal; New York AG James Indicted

Fri, 10 Oct 2025 09:55:15 +0000

On today's podcast:
1) Israel’s cabinet approved a deal that will see Hamas free all remaining hostages held in Gaza in exchange for around 2,000 prisoners, a major step toward ending a two-year war that’s killed tens of thousands of people and destabilized the wider Middle East. Israeli Prime Minister Benjamin Netanyahu’s coalition gave its approval overnight, around a day after negotiators for the warring sides reached an agreement in the Egyptian resort of Sharm El-Sheikh. The deal is based on a plan unveiled by US President Donald Trump late last month and followed days of talks mediated by the Americans, as well as Egypt, Qatar and Turkey.
2) Congressional leaders continued to blame the other party for the US government shutdown as President Trump doubled down on his threats to use the stalemate, now entering its tenth day, to make sweeping cuts to Democratic priorities and the federal bureaucracy. There was no sign of progress as government workers and military personnel prepare for missed paychecks and the general public begins to feel the effects of the closure on everything from taxpayer services to air travel.
3) New York Attorney General Letitia James was indicted by a federal grand jury in Virginia, making her the second of President Trump’s perceived political enemies to be criminally charged in two weeks. James was charged with one count of alleged bank fraud and one count of making false statements to a financial institution. The indictment made public on Thursday follows allegations from Trump administration officials that James engaged in mortgage fraud.

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Israel & Hamas Reach Gaza Deal; China Unveils New Rare Earth Curbs

Thu, 09 Oct 2025 09:41:19 +0000

On today's podcast:

1) Israel and Hamas have reached a deal for the release of all hostages held by the militant group in Gaza, a major step toward ending a two-year war that’s devastated the Palestinian territory and triggered multiple conflicts in the Middle East as well as protests across the world. The agreement was reached early on Thursday after several days of indirect negotiations between the warring sides in the Egyptian resort of Sharm El-Sheikh. The ongoing talks were brokered by the US, Egypt, Qatar and Turkey and based on a plan unveiled by President Trump last week.

2) French President Emmanuel Macron said he’ll name a new prime minister by Friday evening, having for the time being avoided the need to call a snap election that would have deepened the political chaos in France. Outgoing Premier Sebastien Lecornu, who was tasked by Macron on Monday to negotiate with the political groups in the National Assembly, said sufficient progress had been made to allow work to begin on forming a new cabinet.

3) China has unveiled broad new curbs on its rare earth exports, as Beijing moves to shore up its trade war leverage ahead of a high-stakes meeting this month between Donald Trump and Xi Jinping. Overseas exporters of items that use even traces of certain rare earths sourced from China will now need an export license, the Ministry of Commerce said in a statement Thursday, citing national security grounds. Certain equipment and engineering technology will also be subject to controls, according to a separate release.

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Gold Soars as US Shutdown Enters Day 8; French Premier Optimistic on Resolving Political Crisis

Wed, 08 Oct 2025 09:36:20 +0000

On today's podcast:
1) The Trump administration’s push to deny back pay to federal workers furloughed during the shutdown sets the stage for another round of legal battles over the president’s control of the workforce. The White House in a draft legal opinion Tuesday suggested it may withhold back pay from government employees when the shutdown ends, raising the threat of lost wages for potentially 750,000 civilian workers and stoking a broader clash over how much employees are owed after a shutdown ends. Meantime, spot gold smashed through $4,000 an ounce for the first time, as concerns over the US economy and the government shutdown added fresh momentum to a scorching rally.
2) Outgoing French Prime Minister Sebastien Lecornu expressed optimism that an an accord can be reached to allow the formation of a new government without fully endorsing a new proposal to rethink a controversial pension law as demanded by the Socialists.
3) Teams from the US, Qatar, Israel and other nations are headed to Egypt as part of a final push for a deal with Hamas aimed at ending the two-year war that’s devastated Gaza and destabilized much of the Middle East. A US team that includes US special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner will join Qatar Prime Minister Sheikh Mohammed Bin Abdulrahman Al Thani and other senior officials in Sharm El-Sheikh.

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Trump Opens Door to Shutdown Talks; National Guard Deployments Continue

Tue, 07 Oct 2025 09:51:32 +0000

On today's podcast:
1) With the US government shutdown closing in on the one week mark, President Trump showed signs of cracking Monday, sending mixed messages about the state of talks with Democrats on their biggest demand. Trump, who had remained on the sidelines of negotiations for days, on Monday said he was open to negotiating with Democrats over health care subsidies to bring an end to the funding stalemate, at one point suggesting those talks had already begun. The remarks appeared to mark a shift after days of Republicans maintaining they’d only consider a possible extension of Obamacare subsidies after Democrats first passed legislation to fund the government.
2) A federal judge declined to quickly issue a temporary order blocking the Trump administration’s plan to deploy National Guard members to Chicago to counter protests against the US immigration crackdown, while urging the government to delay the controversial plan until she rules. US District Judge April Perry on Monday said she could not rule immediately on a request by Illinois for a two-week halt to the deployment, which would include National Guard troops under federal control from Illinois and Texas. She set a Thursday hearing for arguments.
3) President Trump is pressing Israel and Hamas to secure a settlement to the two-year conflict that’s devastated Gaza and destabilized the Middle East, with the warring sides starting mediated negotiations. A key sign of progress in the talks, taking place in the Egyptian Red Sea resort of Sharm El-Sheikh, will be whether Hamas frees all the roughly 20 of its live hostages — plus the remains of those who are dead — in return for Israel releasing about 2,000 Palestinian prisoners. Indirect discussions between negotiators about preparing the conditions for that exchange got underway on Monday, AlQahera News reported on its X account, citing unidentified individuals. Egyptian and Qatari mediators are working with both sides to establish an appropriate mechanism.

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French Premier Lecornu Resigns; Trump Pushes for Israel-Hamas Deal

Mon, 06 Oct 2025 10:04:55 +0000

On today's podcast:
1) French Prime Minister Sebastien Lecornu resigned Monday just a day after President Emmanuel Macron named a new cabinet, deepening the country’s political crisis. The premier quit less than 24 hours after Macron announced a government that retained most senior members from previous cabinets. That irked opposition parties looking for change, but in a surprising twist, the reappointed interior minister, Bruno Retailleau — who leads the center-right Republicans — also slammed the choice of ministers as failing to “break” with the past.
2) President Trump is pressing Israel and Hamas to seal a settlement to the two-year conflict that’s devastated Gaza and destabilized the Middle East, with the warring sides set to begin mediated talks on Monday. A key sign of progress in the negotiations, taking place in the Egyptian Red Sea resort of Sharm El-Sheikh, will be whether Hamas frees all the roughly 20 of its live hostages — plus the remains of those who are dead — in return for Israel releasing about 2,000 Palestinian prisoners.
3) Unions representing hundreds of thousands of federal workers asked a US judge to immediately block any mass firings by the Trump administration during the government shutdown while they press a legal challenge.The emergency request Saturday night to US District Judge Vince Chhabria in San Francisco follows what the unions contend are a series of statements from President Donald Trump and other senior officials signaling that agencies could take action on layoff plans as early as Monday. Kevin Hassett, Trump’s top economic adviser in the White House, said the administration is holding off on layoffs at least until Monday, when a divided Senate is due to vote for the fifth time on a stopgap bill to keep government open through November 21st.

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Special Coverage: Hamas Agrees To Release Israeli Hostages

Sat, 04 Oct 2025 02:12:21 +0000

Hamas agreed to release the last of the hostages from its 2023 attack on Israel but said the rest of a US peace plan would be subject to negotiation, a stance that offered uncertain hopes for an end to the conflict in Gaza.

President Donald Trump responded favorably to the Hamas statement even though the group failed to address other key elements of his 20-point proposal that Israel has also demanded, including that it disarm. He called on Israel to stop its bombing campaign and said discussions were underway on “details to be worked out,” suggesting that he was willing to give Hamas some leeway.

“I believe they are ready for a lasting PEACE,” Trump said of Hamas in a social media post. “Israel must immediately stop the bombing of Gaza, so that we can get the Hostages out safely and quickly!”

In a subsequent video post, Trump thanked the Muslim-majority nations he credited with assisting in the negotiations and pledged that “everybody will be treated fairly” in ongoing talks.

“This is a big day,” Trump said. “We’ll see how it all turns out — we have to get the final word down in concrete.”

For instant reaction and analysis, Bloomberg Balance of Power host Joe Mathieu speaks with:

- Rep. Gregory Meeks of New York
- Bloomberg News State Department and Foreign Policy Reporter Eric Martin
- Former Deputy Secretary of State Wendy Sherman

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Daybreak Weekend: Pfizer Deal, Nobel Peace, Golden Week

Fri, 03 Oct 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the impact of lumber and timber tariffs on housing, and President Donald Trump’s Pfizer deal on drugmakers.
In the UK – a look ahead to the Nobel Prize decisions.
In Asia – a look ahead to the impact of the Golden Week holiday.

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Shutdown Continues with Senate Vote Expected; US-China Trade "Breakthrough"

Fri, 03 Oct 2025 09:37:48 +0000

On today's podcast:
1) The Senate is expected to hold another vote today on a stopgap spending bill to reopen the government into mid-November. It comes as President Trump threatens to slash jobs. The US government shutdown adds uncertainty for investors seeking signals on the Federal Reserve's monetary-easing path. It will delay Friday's government payroll report, making investors reliant on private data for clues about the economic outlook.
2) Treasury Secretary Scott Bessent predicted a “pretty big breakthrough” in the next round of trade talks with China. China has stopped buying US soybeans, with Beijing using the import ban as a bargaining chip in trade talks with the US. The US and China are set to hold talks before the scheduled November 10 expiration of a truce on the highest tariff levels from earlier this year.
3) Boeing's 777X is slated to fly commercially for the first time in early 2027, a fresh setback to the US planemaker. The delay could result in potentially billions of dollars in accounting charges, with analysts estimating the non-cash accounting charge could run from $2.5 billion to as much as $4 billion. Boeing executives are set to discuss the extent and cost of the latest schedule slip for the jet when Boeing reports earnings on Oct. 29.

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Trump Plans Shutdown Job Cuts, OpenAI Valuation Soars to $500 Billion

Thu, 02 Oct 2025 09:42:53 +0000

On today's podcast:
1) White House Budget Director Russell Vought is planning to swiftly dismiss federal workers, a sign that Republicans will lean into hardball tactics to pressure Democrats to cave to end a government shutdown. Vought told House lawmakers Wednesday that some federal agencies will move to terminate workers within one to two days, according to people familiar with the remarks, who requested anonymity to discuss a private meeting. White House Press Secretary Karoline Leavitt told reporters that layoffs would happen within “two days, imminent, very soon” but declined to give any details about what agencies or positions would be targeted. Meantime, the Trump administration is planning to cancel billions of dollars earmarked for hydrogen projects in California and the Pacific Northwest, as well as $18 billion in infrastructure funding for the New York metro region.
2) Federal Reserve Bank of Chicago President Austan Goolsbee said a lack of official data while the US government is shut down will make it harder for central bankers to interpret the economy. Goolsbee reiterated concerns about a recent pickup in services inflation, which he said could mean price pressures are persistent in parts of the economy least impacted by tariffs.
3) OpenAI has completed a deal to help employees sell shares in the company at a $500 billion valuation, propelling the ChatGPT owner past Elon Musk’s SpaceX to become the world’s largest startup. Current and former OpenAI employees sold about $6.6 billion of stock to investors including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX and T. Rowe Price, a person familiar with the transaction said. That boosted the US company’s price tag well past its previous $300 billion level during a SoftBank-led financing round earlier this year.

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Government Shutdown Takes Effect, White House Pulls Antoni BLS Nomination

Wed, 01 Oct 2025 09:44:46 +0000

On today's podcast:
1) Congress blew past a midnight funding deadline, triggering the US government’s first shutdown in nearly seven years — and the third under President Trump. The White House’s budget office ordered agencies to begin executing their plans for a funding lapse, shuttering the government aside from essential duties, disrupting the jobs of hundreds of thousands of Americans and upending many public services.
2) The Congressional Budget Office estimates that about 750,000 employees will be furloughed at a cost per day of $400 million in lost compensation. President Trump has also threatened to use the shutdown to fire federal workers, but agency plans for the lapse in funding didn’t specify any measures for terminations. With key economic reports on hold, traders fear the loss of visibility will leave markets in the dark on the outlook for monetary policy. The immediate reports at risk are Thursday’s weekly jobless claims and the October 3rd release of September’s nonfarm payrolls.
3) The White House pulled the nomination of EJ Antoni to lead the Bureau of Labor Statistics, throwing the leadership of the critical data agency into further disarray after President Trump fired the former commissioner. A White House official said that the administration looked forward to nominating a new candidate soon. Antoni was slated to appear before a Senate committee for a confirmation hearing for the BLS commissioner role, which is the only political appointee in an agency of roughly 2,000 people.

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Vance Says US Headed for Shutdown, US & Israel Agree to Gaza Peace Plan

Tue, 30 Sep 2025 09:55:25 +0000

On today's podcast:
1) Vice President JD Vance said he believes the US government is on track to shut down, seeking to pin the blame on Democrats one day before federal funding is set to lapse. President Trump met with top Democratic and Republican congressional leaders less than 36 hours before an October 1st shutdown deadline. The two sides left no closer to resolving Democrats’ demands to extend health-care subsidies and reverse Medicaid funding cuts included in Trump’s signature tax legislation passed earlier this year.
2) Federal agencies are preparing for a possible government shutdown with detailed plans that call for temporary furloughs but not permanent mass firings — even after the White House pressed departments to consider reductions in force as part of their contingency planning. At least eight cabinet departments comprising more than two-thirds of the federal workforce had detailed their shutdown plans as of Monday afternoon. Together they call for more than 400,000 employees to be sent home as nonessential.
3) President Trump and Israeli Prime Minister Benjamin Netanyahu have agreed to a 20-point plan designed to end the war in Gaza, though the prospects for peace remain unclear without the direct involvement of Hamas. Trump said he had the support of other leaders from the Middle East and Muslim-majority nations. Still, the proposal — which mandates Hamas have no role in the future of Gaza — must be accepted by the militant group.

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Trump to Meet Democrats as Shutdown Looms, Israel's Netanyahu in DC

Mon, 29 Sep 2025 09:56:07 +0000

On today's podcast:

1) The top four congressional leaders will meet with President Donald Trump at the White House on Monday, a day before federal funding would expire if the two parties can’t agree on a short-term spending bill. The discussions will be the first between Trump and congressional leaders ahead of the deadline to avoid a shutdown. Senate Democratic leader Chuck Schumer and his House counterpart, Hakeem Jeffries, were expected to meet with the president last week but it was canceled by the White House at the last minute.

2) Israeli Prime Minister Benjamin Netanyahu is set to hold a crucial White House meeting with US President Donald Trump on Monday amid assertions from Washington that an ambitious plan to end the war in Gaza is nearly complete. The meeting — the fourth between the two allies since Trump took office in January — comes after the US leader shared a 21-point proposal aimed at concluding the Israel-Hamas conflict with other regional heads in New York last week.

3) New York City Mayor Eric Adams bowed out of his struggling reelection campaign Sunday, but the decision may be too late to fundamentally alter the outcome of the November election to replace him. Adams’ decision to withdraw, amid faltering poll numbers and a struggle to raise money, was a long-speculated outcome by donors and sought by others who hoped to boost former New York Governor Andrew Cuomo’s chances to defeat frontrunner Assemblyman Zohran Mamdani, a democratic socialist. But political analysts questioned Sunday whether the decision can make a difference with just 37 days until Election Day.

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Daybreak Weekend: US Jobs, Power Conference, China PMIs

Fri, 26 Sep 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the U.S jobs report and the Electric vehicle sector.
In the UK – a look ahead to the Bloomberg Women, Money, Power conference in London.
In Asia – a look ahead to the China PMI data.

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Former FBI Director Comey Charged, $14 Billion TikTok US Valuation

Fri, 26 Sep 2025 09:46:54 +0000

On today's podcast:
1) Former FBI Director James Comey has been charged with lying to Congress and obstruction related to testimony he gave in 2020, accelerating President Donald Trump’s push for legal action against his perceived political enemies. The filing of charges capped days of speculation over whether the Justice Department would bring the high-profile case against Comey, who has clashed with the president for years.
2) President Trump announces a fresh round of tariffs on pharmaceuticals, heavy trucks and furniture, including a 100% duty on patented drugs unless the producer is building a manufacturing plant in the US. The pharmaceuticals plan, as described by the president, may allow for wide exemptions for companies with presences within the United States.
3) The $14 billion price tag proposed for TikTok’s US business values it more like a stuffy old energy or food company than a leading global social media company. The rough estimate, cited by Vice President JD Vance on Thursday, is well below previous projections that scaled closer to $40 billion. Vance’s comments came as President Donald Trump pushed forward a plan for American investors to buy the US operation from Chinese internet firm ByteDance Ltd.

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White House Issues Shutdown Warning; Kimmel Attracts Record Audience

Thu, 25 Sep 2025 09:51:24 +0000

On today's podcast:
1) The White House budget office is telling federal agencies to prepare plans for mass firings during a possible government shutdown. The move would represent a substantial escalation beyond normal shutdown protocols in recent years, under which government workers deemed nonessential in the case of a funding lapse were typically furloughed and eventually brought back when funding is restored — usually with back pay provided.

2) President Trump is scheduled to meet Pakistan’s Prime Minister Shehbaz Sharif at the White House, the latest sign of improving ties between the two nations. The meeting will be the first time Trump has hosted Sharif at the White House since the Pakistani leader took his country’s top office last year. It comes as relations between the US and Pakistan have been easing in recent months following years of tensions.

3) Jimmy Kimmel’s return to late-night TV on Tuesday drew 6.26 million viewers, Walt Disney Co.’s ABC network said in an emailed statement, the most ever in the show’s regular time slot. The total is significantly higher than the 1.55 million viewers Jimmy Kimmel Live! has averaged this year, according to Nielsen data. ABC suspended the program on Sept. 17 following comments the host made two nights earlier about the assassination of conservative activist Charlie Kirk.

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Kimmel Returns as Trump Renews Attacks; Powell Reiterates Duel Economic Risks

Wed, 24 Sep 2025 09:54:35 +0000

On today's podcast:
1) Jimmy Kimmel returned to TV, saying "it was never my intention to make light of the death of a young man" and addressing controversy over his remarks about the shooting of Charlie Kirk. Kimmel called Kirk's killer "a sick person" and said the willingness of Kirk's widow Erika to forgive the assassin was an "example we should follow." Kimmel's show was reinstated after he personally negotiated his return with Disney CEO Bob Iger and Dana Walden, and he noted that the company "didn't have to" welcome him back on the air.
2) President Trump said NATO nations should shoot down Russian aircraft that violated their airspace. The president expressed a sympathetic tone on Ukraine's chances of winning the war, saying he believed Ukraine could reclaim all territory taken by Russia. President Trump criticized Russia, saying it was "fighting aimlessly" and made the country look like "a paper tiger," while the Kremlin pushed back, saying Russia "maintains its resilience and stability."
3) Fed Chair Jay Powell said the outlooks for the labor market and inflation face risks, calling it a "challenging situation." Powell stated that "near-term risks to inflation are tilted to the upside and risks to employment to the downside — a challenging situation" and that "two-sided risks mean that there is no risk-free path."

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Kimmel Returns to ABC; Trump Tylenol Recommendation

Tue, 23 Sep 2025 09:54:53 +0000

On today's podcast:
1) Jimmy Kimmel Live! will return to the air on Tuesday, ending a suspension Walt Disney Co. imposed following controversial remarks the ABC late-night host made about the assassination of Republican activist Charlie Kirk. Kimmel will address the controversy when he returns to the stage, according to people with knowledge of the matter who asked not to be identified.
2) President Trump's call for pregnant women to avoid Tylenol is drawing sharp criticism from researchers who say the advice ignores decades of evidence and could endanger mothers and babies. Researchers say the White House's message misrepresents the science around acetaminophen, with a physician-scientist calling it "astonishing misinformation."
3) President Trump is preparing to address the UN General Assembly gathering in New York today for the first time in his second term. Earlier this month, the White House announced it would use this year’s General Assembly gathering to push other countries to adopt more restrictions on asylum. Another topic Trump is sure to broach will be Israel’s war in Gaza, as several nations are planning to recognize a Palestinian state on the first day of the conference, and he is sure to defend his close ally.

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Trump and Republicans Mourn Charlie Kirk; Effects of H-1B Visa Fee

Mon, 22 Sep 2025 09:39:30 +0000

On today's podcast:
1) On Sunday evening, Erika Kirk, the widow of conservative activist Charlie Kirk, spoke at memorial service for her late husband, attended by the president and many prominent conservatives. She said she forgave the man who gunned down her husband, saying “I forgive him because it was what Christ did and it’s what Charlie would do.” President Trump proclaimed Charlie Kirk a “martyr for American freedom” in a memorial ceremony.

2) President Trump signed a proclamation to overhaul the H-1B visa program, requiring a $100,000 fee for applications to curb overuse. The proclamation restricts entry under the H-1B program unless accompanied by the payment, and asserts that abuse of the H-1B pathway has displaced US workers.

3) President Trump suggested that Lachlan Murdoch and his father Rupert Murdoch are involved in the US takeover of TikTok. Under the deal, Americans would hold six of the seven board seats for TikTok, the app’s algorithm would be controlled in the US and Oracle would act as TikTok’s security provider.

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Daybreak Weekend: The Future of the Fed, UK Private Markets, Miran's Impact Overseas

Fri, 19 Sep 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – how The K-Shaped Recession Hasn’t Hurt US Equities...Yet
In the UK – Are Private Markets Entering Their Golden Age
In Asia – a look at Stephen Miran's Impact on EM and the Dollar

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Trump's War on Media Expands; Trump, Xi to Hold Call

Fri, 19 Sep 2025 09:37:09 +0000

On today's podcast:
1) The president threatens TV networks that criticize him after Jimmy Kimmel's suspension. President Trump has said US broadcast networks should face scrutiny over their licenses if they're too critical of him, and media executives and academics say companies are "bending to the will" of Trump's administration, making media companies look like state-run outlets.
2) The call between President Trump and Chinese President Xi Jinping may determine the fate of TikTok and potentially ease trade tensions between the two countries. Trump and Xi are due to discuss a framework agreement to shift control of TikTok's US operations from its Chinese parent ByteDance to a consortium of American investors.
3) President Trump has asked the US Supreme Court to let him fire Federal Reserve Governor Lisa Cook while she fights his attempt to oust her. The Justice Department asked the court to at least temporarily pause a Washington federal judge’s ruling that has allowed Cook to remain in her position for now.

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ABC Suspends Jimmy Kimmel; Trump's UK Visit Shifts From Pomp to Politics

Thu, 18 Sep 2025 09:43:03 +0000

On today's podcast:
1) Walt Disney Co.’s ABC network is taking Jimmy Kimmel Live! off the air indefinitely amid a backlash to remarks the late-night host made about the killing of Republican activist Charlie Kirk.
2) President Donald Trump dined on organic Norfolk chicken at a white-tie banquet Wednesday night hosted by the British royal family. His state visit to the UK now turns to tougher diplomatic talks on trade and foreign policy with Prime Minister Keir Starmer.
3) Federal Reserve Chair Jerome Powell rallied a deeply divided committee of policymakers behind an interest rate-cut, tuning out heavy political pressure to find middle ground among officials variously worried by a faltering labor market and lingering inflation concerns.

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Trump's Historic UK Visit; Highly Anticipated Fed Decision

Wed, 17 Sep 2025 09:40:33 +0000

On today's podcast:
1) The UK has shelved its talks with the US aimed at eliminating tariffs on British steel, in a recognition that giving Donald Trump the honor of a rare second state visit wouldn’t be enough to shake the American president off a key trade stance.
2) Federal Reserve officials are expected to backstop a faltering US labor market by lowering interest rates Wednesday, marking a shift after worries about tariff-induced inflation kept them on hold all year.
3) TikTok’s US operations would be acquired by a consortium that includes Oracle Corp., Andreessen Horowitz and private equity firm Silver Lake Management LLC under a deal President Donald Trump is set to discuss with Chinese President Xi Jinping this week.

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Judge Blocks Trump Bid to Fire Cook; President Trump Sues NY Times

Tue, 16 Sep 2025 09:39:01 +0000

On today's podcast:
1) An appeals court blocked the White House from removing Federal Reserve Governor Lisa Cook from her post for now, allowing her to continue working while her lawsuit challenging President Trump’s move to dismiss her proceeds. The court's 2-1 ruling came just hours before the start of the Fed's meeting to vote on interest rates, and President Donald Trump could still ask the Supreme Court to step in.
2) President Trump is bringing a $15 billion defamation and libel lawsuit against The New York Times, according to a post on Truth Social. The suit is being brought in Florida, Trump says. The president accuses the publication of becoming a “mouthpiece” for the Democratic Party, citing its endorsement of former presidential candidate Kamala Harris among other concerns.
3) The Securities and Exchange Commission is "prioritizing" a proposal to reduce the frequency of corporate earnings reports after President Trump called for an end to quarterly reports. Trump said companies should report on a "Six (6) Month Basis" instead of quarterly, which he claims will save money and allow managers to focus on running their companies. Critics argue that shifting away from quarterly reporting could be a "gigantic step backward" and increase uncertainty and volatility on earnings results.

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US-China Trade Talks and TikTok; Hochul Endorses Mamdani

Mon, 15 Sep 2025 09:39:55 +0000

On today's podcast:
1) US and Chinese representatives discussed TikTok, trade and the economy during high-level talks in Madrid. The talks included national security issues and the status of ByteDance's TikTok, which faces a deadline to reach a deal to continue operations in the US.
2) China ruled that Nvidia violated anti-monopoly laws with a 2020 deal, increasing pressure on Washington during trade negotiations. The State Administration for Market Regulation found Nvidia in violation of antitrust regulations after its acquisition of Mellanox Technologies. The regulator will investigate further, but did not specify what remedies it would seek, after Nvidia's shares fell in pre-market trading following the announcement.
3) New York Governor Kathy Hochul has endorsed Democratic nominee Zohran Mamdani for mayor of New York City. Hochul wrote that she and Mamdani will be fearless in confronting the president's extreme agenda and that she is confident Mamdani has the courage and urgency New York City needs.

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Daybreak Weekend: Fed Decision, Trump UK Visit, BOJ Policy

Fri, 12 Sep 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the next Fed decision and earnings from FedEx.
In the UK – a look ahead to President Trump’s visit to the UK.
In Asia – a look ahead to the next monetary policy decision from the Bank of Japan and what’s next after its ruling Liberal Democratic Party Shigeru Ishiba resigned.

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FBI Releases Video Clip of Suspect in Charlie Kirk Killing; President Trump Will Attend Funeral

Fri, 12 Sep 2025 09:35:48 +0000

1) The suspect in the killing of Charlie Kirk slipped behind a building, braced himself on the roof and swung off the edge, hitting the ground hard and leaving behind palm smudges and a shoe print. He bolted across a patch of grass, cut through a parking lot and vanished into the trees.
2) President Donald Trump said he intends to attend the funeral for conservative activist Charlie Kirk, who was shot and killed at an event on a college campus in Utah.
3) The shock Israeli strike against Hamas officials in Doha, followed by Russian drones piercing the airspace of NATO ally Poland, delivered twin blows to President Donald Trump’s longtime boast that friends and foes respect the US under his leadership like never before.

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Police Search for Killer of Charlie Kirk; Wall Street Awaits Inflation Report

Thu, 11 Sep 2025 09:35:26 +0000

On today's podcast:
1) A search is underway for the killer of Charlie Kirk, a conservative activist who was fatally shot at a Utah university. Kirk was speaking at an outdoor event at Utah Valley University when a single shot was fired from a nearby building, according to local police, with Governor Spencer Cox describing it as a “political assassination.” The shooting drew an outpouring of shock and condemnation from Republicans and Democrats alike, with former Democratic presidents Joe Biden and Barack Obama denouncing the violence and offering sympathies to Kirk's family.
2) Global stocks posted small gains as traders held back on major bets before Thursday’s highly anticipated US inflation data. Expectations that the Fed will resume monetary easing this month have soared in recent weeks, as data increasingly point to a US labor market under strain. A softer-than-expected print could fuel bets on an initial outsized cut, while a stronger reading would bolster the case for more gradual moves.
3) Mexico plans to impose tariffs of as much as 50% on cars and other products made by China and several Asian exporters. The tariffs would affect countries including China, South Korea, India, Thailand, Indonesia, Russia and Turkey, but would not apply to countries such as the US, Canada, the European Union, Japan, Malaysia, Vietnam and Singapore.

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Instant Reaction: Conservative Activist Charlie Kirk Fatally Shot

Wed, 10 Sep 2025 23:16:33 +0000

Charlie Kirk, who helped rally young voters to Republican causes and became a close ally of President Donald Trump, died after being shot during an event in Utah. Kirk, executive director of the conservative Turning Point USA advocacy group, was speaking at an outdoor event at Utah Valley University when the fatal incident occurred.

For instant reaction and analysis, Bloomberg Balance of Power cohosts Joe Mathieu and Kriti Gupta speak with:

Bloomberg News senior editor Michael Shepard
Bloomberg News White House repoter Kate Sullivan
Kristen Hawn, ROKK Solutions Partner and Democratic Strategist
Marua Gillespie, Bluestack Strategies Founder and Republican Strategist
Senator Mike Rounds (R-ND)

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Judge Rules on Fed's Lisa Cook; Fallout from Israel Attack in Qatar

Wed, 10 Sep 2025 09:42:18 +0000

On today's podcast:
1) A judge temporarily blocked President Trump from removing Federal Reserve Governor Lisa Cook, allowing her to remain on the job as she challenges the president’s efforts to oust her over allegations she committed mortgage fraud.
2) President Trump criticizes Israel after its bombing of Hamas leaders in the Gulf. Israel's strike on Qatar's capital delivered a major blow to US-supported efforts to normalize ties with Gulf Arab nations and possibly crippled talks for a ceasefire in Gaza. The strike may have ended Qatar's role as a mediator in ceasefire negotiations, with other countries such as Turkey potentially being put on high alert, according to former US and CIA officials.
3) Poland shot down drones that crossed into its territory during a Russian air strike on Ukraine, calling it an "act of aggression." The country's airspace was "violated by a huge number of Russian drones", forcing Poland to close its airspace and order citizens in the eastern part of the country to stay indoors. The incident was described as "the most serious European airspace violation by Russia since the war began", with indications suggesting it was intentional, not accidental.

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Instant Reaction: US Payrolls Marked Down a Record 911,000 in Preliminary Estimate

Tue, 09 Sep 2025 14:50:00 +0000

US job growth was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates.
The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year.
Before the report, the government’s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half that.

For instant reaction and analysis, Bloomberg's Tom Keene and Scarlet Fu spoke with:

Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist
Michael McKee, Bloomberg International Economics and Policy Correspondent
Stephanie Roth, Wolfe Research chief Economist

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ICE in Chicago and Trump-Epstein Letter; Traders Await Labor Revisions

Tue, 09 Sep 2025 09:36:48 +0000

On today's podcast:
1) President Trump started his immigration crackdown in Chicago, with federal agents stepping up enforcement in an escalating campaign against Democratic-run cities. The Department of Homeland Security said Operation Midway Blitz targets “criminal illegal aliens” and blamed Illinois Governor JB Pritzker for sanctuary policies that it said help shield lawbreakers.
2) House Democrats released an alleged birthday note that they said Donald Trump sent to Jeffrey Epstein, raising pressure on the president over questions about his past interactions with the late disgraced financier. The release stems from a trove of documents received by the House Oversight Committee, including a birthday book compiled for Epstein’s 50th birthday and his last will and testament.
3) Investors in the Treasuries market face a test of bullish sentiment this week from inflation reports and a benchmark revisions for jobs data. The market's ability to extend this month's rally will depend on the tone of producer and consumer inflation due Wednesday and Thursday.

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Trump Geopolitics Push; ICE Raids in Boston

Mon, 08 Sep 2025 09:43:45 +0000

On today's podcast:
1) The European Union is exploring new sanctions on about half a dozen Russian banks and energy companies as part of its latest round of measures to pressure President Vladimir Putin to end the war against Ukraine.The package, which would be the bloc’s 19th since Moscow’s full-scale invasion in 2022, could also see the EU target Russia’s payment and credit card systems, crypto exchanges as well as further restrictions on the country’s oil trade, according to people familiar with the matter.
2) Federal immigration agents conducted raids across Boston and nearby communities over the weekend, arresting dozens of people, according to a spokesperson for the Department of Homeland Security. The move came as the Justice Department filed suit against the city and its mayor, intensifying a clash over local sanctuary policies. Local officials have rejected the federal operations as unnecessary and authoritarian overreach.
3) Stocks rose at the start of a week that is packed with events that will be crucial in shaping sentiment as markets trade near all-time highs. Gold extended a record rally

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Daybreak Weekend: U.S CPI, UK Security, China CPI

Fri, 05 Sep 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to CPI and PPI data and Apple’s September 9th
In the UK – on global defence industry gathering in London for the UK's flagship sector event.
In Asia – a look ahead to China August CPI and PPI data.

- Stuart Paul, US Economist with Bloomberg Economics, to preview CPI and PPI data.

- Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, to preview Apple’s September 9th event.

- Ros Mathieson, Bloomberg Chief Asia Correspondent, on global defence industry gathering in London for the UK's flagship sector event.

- Tony Halpin, Russian Government and Economy Team Leader, on global defence industry gathering in London for the UK's flagship sector event.

- Mary Nicola, Bloomberg MLIV Strategist in Singapore, discusses China August CPI and PPI data.

- Kevin Sneader, APAC ex-Japan President at Goldman Sachs, discusses China’s stock rally.

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Trump Chip Tariffs; OpenAI and Broadcom Take on Nvidia

Fri, 05 Sep 2025 09:46:41 +0000

On today’s podcast:

1) President Trump teases new semiconductor tariffs at a White House dinner surrounded by tech titans. Mark Zuckerberg and Tim Cook joined other tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Trump. The president has secured billions in corporate commitments to drive construction of AI infrastructure, with companies including Meta and Apple announcing plans to invest in the US and avoid tariffs on imports.

2) Broadcom is helping OpenAI design and produce an artificial intelligence accelerator from 2026, getting into a lucrative sphere dominated by Nvidia. The two firms plan to ship the first chips in that lineup starting next year, with OpenAI initially using the chip for its own internal purposes.

3) Traders brace for today’s US jobs report and signs of further labor weakening. Stocks in the premarket advanced as optimism built that Friday’s jobs report will set the stage for the Federal Reserve to resume cutting interest rates this month. Money markets are fully pricing in a Fed quarter-point cut this month and see at least two by year-end.

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Trump Harvard and Tariff Rulings; Look Ahead to Miran Hearing

Thu, 04 Sep 2025 09:37:58 +0000

On today's podcast:
1) President Trump asks the Supreme Court to uphold his global tariff regime. A defeat for Trump would cut the current average US effective tariff rate by at least half and could force the US to refund tens of billions of dollars, according to Bloomberg Economics analyst Chris Kennedy.
2) A major court victory for Harvard University in its fight for federal research funds. A court ruled that the US illegally froze more than $2 billion in research funding to Harvard University, violating the school's free speech rights and not following proper procedures. The Trump administration plans to appeal the decision, with a White House spokeswoman calling it "egregious" and stating that Harvard "does not have a constitutional right to taxpayer dollars and remains ineligible for grants in the future."
3) President Trump's bid to reshape the Fed goes before a Senate confirmation hearing today. The Senate Banking Committee is holding a confirmation hearing on Stephen Miran's appointment to be a governor of the Federal Reserve, a nomination made by President Donald Trump. Miran has said he will preserve the Fed's independence, stating that "independence of monetary policy is a critical element for its success" and that he intends to "preserve that independence and serve the American people to the best of my ability."

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Trump Accuses Xi of ‘Conspiring Against US’ With Putin, Kim; Global Bond Selloff Deepens

Wed, 03 Sep 2025 09:34:29 +0000

On today's podcast:
1) President Donald Trump took aim at Chinese leader Xi Jinping as he hosted foreign leaders at a major military parade in Beijing, a reminder of the lingering tensions between the two sides over trade, tech and other issues.“Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America,” Trump said on his Truth Social site, referring to the leaders of Russia and North Korea, without elaborating.
2) Global bonds are facing renewed selling pressure as jitters around inflation, debt sales and fiscal discipline erode sentiment toward what had previously been some of the world’s safest assets.
3) Alphabet Inc.’s Google will have to share some of its search data with competitors, but will not have to sell its popular Chrome web browser, a federal judge ruled Tuesday in the Justice Department’s landmark antitrust case against the search engine. The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court found the company had an illegal monopoly in the search market.

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Instant Reaction: Google Doesn't Have to Sell Chrome in Antitrust Ruling

Tue, 02 Sep 2025 21:58:17 +0000

Alphabet’s Google will have to share some of its search data with competitors, but will not have to sell its popular Chrome web browser, a federal judge ruled Tuesday in the Justice Department’s landmark antitrust case against the search engine.

The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court found the company had an illegal monopoly in the search market. Judge Amit Mehta did bar Google from entering into exclusive contracts for internet search.The finding follows Mehta’s ruling last year that Google illegally monopolized the markets for online search and search advertisements. Mehta held a three-week hearing in April to determine a fix.

The order is one of the most monumental court decisions affecting the tech sector in more than a quarter century, and could offer a blueprint for other judges who may end up weighing similar choices in cases against Meta Platforms, Amazon and Apple.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

Bloomberg Intelligence Global Head of Technology Research Mandeep Singh and Bloomberg News Senior Executive Editor for Global Tech Tom Giles

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Trump Tariff Court Ruling; Nestle CEO Ousted

Tue, 02 Sep 2025 09:35:58 +0000

On today's podcast:
1) A federal appeals court ruled that President Donald Trump exceeded his authority by imposing global tariffs through an emergency law, but let the levies stay in place while the case proceeds. The decision extends the suspense over whether Trump's tariffs will ultimately stand, with the administration potentially turning to the Supreme Court for a final ruling or letting the Court of International Trade revisit the matter first.
2) Treasury Secretary Scott Bessent said the Trump administration may declare a national housing emergency this fall. Bessent stated that housing affordability would be a critical leg of Republicans' 2026 midterm election platform. The administration is studying ways to standardize local building and zoning codes and decrease closing costs to address housing affordability.
3) An abrupt leadership change at the world's largest food company as Nestlé SA dismissed Chief Executive Officer Laurent Freixe due to an undisclosed workplace affair that violated the company's code of conduct. Philipp Navratil, who heads the Nespresso coffee brand, was named as Freixe's replacement, and Nestlé shares fell in early trading following the announcement.

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Daybreak Holiday: Fed Independence, Market Outlook, Retail Breakdown

Mon, 01 Sep 2025 09:00:00 +0000

On this special Labor Day edition of Bloomberg Daybreak US, host Nathan Hager speaks with:

1) Sarah House, Wells Fargo senior economist and Jennifer Lee, Senior Economist at BMO Capital Market on the upcoming meeting of the Federal Reserve and Fed independence.

2) Lori Calvasina, head of US equity strategy, RBC Capital Markets and Brian Levit, Global Market Strategist at Invesco on what to expect out of markets in the fall

3) Burt Flickinger, Managing Director at Strategic Resource Group, on the outlook for the retail sector.

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Instant Reaction: Trump’s Global Tariffs Found Illegal by US Appeals Court

Fri, 29 Aug 2025 22:48:13 +0000

Most of President Donald Trump’s global tariffs were ruled illegal by a federal appeals court that found he exceeded his authority in imposing them, but the judges let the levies stay in place while the case is subject to further review.

The US Court of Appeals for the Federal Circuit on Friday upheld an earlier ruling by the Court of International Trade that Trump wrongfully invoked an emergency law to issue the tariffs. But the appellate judges sent the case back to the lower court to determine if it applied to everyone affected by tariffs or just the parties involved in the case.

Friday’s 7-4 decision by the Federal Circuit could extend the suspense over whether Trump’s tariffs will ultimately stand. The case had been expected to next go to the Supreme Court for a final ruling. The administration could now turn to the justices, who have largely backed the president on other matters. But the White House could also let the Court of International Trade revisit the matter first.

“ALL TARIFFS ARE STILL IN EFFECT!” Trump said in a post on Truth Social shortly after the decision was issued.

For instant reaction and analysis, Bloomberg Balance of Power cohost Joe Mathieu speaks with Harvard Kennedy School's Ash Center Democracy Visiting Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis, both Bloomberg politics contributors.

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Daybreak Weekend: Jobs Report, European Banking, China's Technology Battle

Fri, 29 Aug 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the August jobs report and earnings from Salesforce
In the UK – a look at the future of Europe's banking industry
In Asia – a look at how China is stepping up the technology battle with the US

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Waller Calls for Multiple Rate Cuts; Kennedy Deputy Named CDC Head

Fri, 29 Aug 2025 09:37:51 +0000

On today's podcast:
1) A leading candidate to replace Jay Powell as Fed Chair sees a quarter point rate cut in September. Federal Reserve Governor Christopher Waller called for lower interest rates, saying he would support a reduction in September. Waller anticipates additional cuts over the next three to six months, with the pace driven by incoming data. Waller said the chances of an undesirable weakening in the labor market have increased, and proper risk management means the FOMC should be cutting the policy rate now.
2) President Trump's bid to fire Fed Governor Lisa Cook is headed for a showdown in court. Federal Housing Finance Agency Director Bill Pulte sent a new criminal referral against Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. Cook is seeking to block President Trump's move to fire her, filing a lawsuit that labels the president's bid to oust her as “illegal” and casting it as a bid to seize control of the Fed.
3) Robert F. Kennedy Jr. names his top deputy to replace the fired head of the CDC. The Trump administration is tapping Jim O'Neill as the acting director of the Centers for Disease Control and Prevention. The move follows the firing of Susan Monarez, who was ousted after a confrontation with Health and Human Services Secretary Robert F. Kennedy Jr. over vaccine policy. Kennedy said in a message to CDC staff that he and President Trump are aligned on a vision for the CDC to strengthen the public health infrastructure by returning to its core mission.

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Nvidia Drops as Markets Look Past Forecast; CDC Firing Uproar

Thu, 28 Aug 2025 09:41:19 +0000

On today's podcast:
1) Nvidia shares drop after the chip giant signals a slowdown in A-I spending. Meanwhile, markets shrug off the Nvidia disappointment and trade near record highs. Stocks shook off an initial drag from Nvidia Corp.’s sales outlook missing lofty expectations, indicating that momentum behind the record-breaking rally remains intact. The yield on 30-year Treasuries fell four basis points to 4.89% as pressure on long-dated debt eased, and European bonds staged a broad advance.
2) US companies plan to buy back shares at a historic pace, a sign of Corporate America’s confidence in the economy. Announced buybacks surpassed $1 trillion on Aug. 20, marking the shortest amount of time needed to reach that level, according to data compiled by Birinyi Associates.
3) The head of the CDC is fired in a dispute over Robert F. Kennedy Jr.'s vaccine policy. The Trump administration fired CDC Director Susan Monarez just weeks into her tenure, and at least three senior CDC leaders, including Demetre Daskalakis, Deb Houry, and Dan Jernigan, told coworkers they were resigning, citing reasons such as the "weaponizing of public health." The removal of Monarez and the resignations of senior leaders have intensified concerns about scientific integrity at the public health agency and underscore the growing distrust between many longtime agency scientists and Secretary Kennedy.

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Trump May Extend Influence to Fed Banks; SpaceX Deploys Satellites in Space

Wed, 27 Aug 2025 09:39:29 +0000

On today's podcast:
1) The Trump administration is reviewing options for exerting more influence over the Federal Reserve’s 12 regional banks that would potentially extend its reach beyond personnel appointments in Washington, according to people familiar with the matter.
2) SpaceX’s Starship rocket launched to space and deployed satellites for the first time before surviving most of its journey to Earth, achieving new technological milestones after a year of fiery setbacks.
3) European stocks gained as investors await Nividia Corp.’s update on the artificial intelligence boom that has powered equity gains this year.

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Trump Moves to Fire Fed Governor Cook; Trump Latest Tariff Threat

Tue, 26 Aug 2025 09:40:39 +0000

On today's podcast:
1) President Trump moves to fire Lisa Cook, but the Fed Governor says she's not going anywhere. It follows allegations that she falsified mortgage documents, citing "sufficient cause" to fire her. Cook said Trump has no authority to fire her, and she won't quit, with her lawyer planning to take "whatever actions are needed to prevent" Trump's "illegal action."
2) The president issues a new trade threat against countries with digital services taxes. President Trump threatened to impose fresh tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations’ digital services taxes. Trump said these taxes "are all designed to harm, or discriminate against, American Technology" and give a pass to China's largest tech companies.
3) French stocks fall as the country's Prime Minister calls a confidence vote. F2rench assets are under pressure due to concern the government will fall in a showdown over proposed budget cuts, according to Bloomberg.

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Instant Reaction: Trump Moves to Fire Fed's Lisa Cook

Tue, 26 Aug 2025 01:30:45 +0000

President Donald Trump moved to oust Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations from a White House ally that she falsified documents on mortgage applications.

“The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” Trump wrote in a letter sent to Cook on Monday, which he posted on Truth Social. “In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”

Presidents can remove Fed governors from office, but only for cause. Laws that describe “for cause” generally define the term as encompassing three possibilities: inefficiency; neglect of duty; and malfeasance, meaning wrongdoing, in office.

For instant reaction, host Doug Krizner speaks with Enda Curran, Bloomberg global economy reporter.

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Jackson Hole Points to Hard Road Ahead for Powell; Wall Street Awaits Nvidia Earnings

Mon, 25 Aug 2025 09:50:04 +0000

On today's podcast:
1) The Federal Reserve's Jackson Hole symposium was a tense affair, with Chair Jerome Powell signaling an interest-rate cut as soon as the next policy meeting in September, despite clear divisions among policymakers.
2) Traders are breathing easier heading into this week after Federal Reserve Chair Jerome Powell indicated that interest rate cuts are coming. The next test for the stock market will be a read on what’s been driving gains for the past few years: artificial intelligence euphoria.
3) SpaceX delayed a critical test flight of its massive Starship rocket roughly half an hour before liftoff on Sunday, saying it needed to troubleshoot an unspecified problem with its ground systems.

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Daybreak Weekend: Nvidia Earnings, Medef Conference, BOK Decision

Fri, 22 Aug 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to personal spending data and earnings from Nvidia.
In the UK – a look at the upcoming Medef Conference.
In Asia – a look at the next Bank of Korea decision and the HK IPO market.

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Instant Reaction: Jay Powell's Jackson Hole Speech

Fri, 22 Aug 2025 15:59:11 +0000

Bloomberg's Tom Keene, Lisa Abramowicz and Michael McKee discuss remarks from Fed Chair Jay Powell following his speech at the Jackson Hole Symposium on a special edition of Bloomberg Surveillance.
They speak with:

Jim Bullard, Former St. Louis Fed President
Kate Moore, Citi Wealth CIO
Rich Clarida, Former Fed Vice Chair

Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain.“The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,” Powell said in remarks prepared for the Fed’s annual conference in Jackson Hole, Wyoming on Friday. “Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”
Following Powell’s remarks investors boosted bets that the Federal Open Market Committee would cut rates at their Sept. 16-17 meeting.

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Fed's Powell Speech at Jackson Hole; Meta Poaches Apple AI Executive

Fri, 22 Aug 2025 09:54:26 +0000

On today's podcast:
1) US stocks are set to extend this week’s string of losses as investors stay risk-averse ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole address, with markets scaling back bets on imminent rate cuts.
2) Meta Platforms Inc. is hiring another key Apple Inc. artificial intelligence executive, even as the social networking company prepares to slow its recruitment, according to people familiar with the matter.
3) Nvidia Corp. has instructed component suppliers including Samsung Electronics Co. and Amkor Technology Inc. to stop production related to the H20 AI chip, the Information reported, citing unidentified sources.

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Fed's Cook Defies Trump Pressure; Jackson Hole Conference Starts

Thu, 21 Aug 2025 09:51:47 +0000

On today's podcast:
1) Federal Reserve Governor Lisa Cook signaled her intention to remain at the central bank, defying calls for her resignation by President Donald Trump over allegations of mortgage fraud.
2) US stock futures pointed to a firmer tone for tech shares on Thursday after days of selling as investors awaited the Federal Reserve’s gathering at Jackson Hole.
3) Vice President JD Vance said negotiations over ending Russia’s war in Ukraine are focused on security guarantees for Ukraine and territory Russia wants to control — including Ukrainian territory that Russia isn’t occupying — as the US tries to broker a peace deal between the two nations.

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Next Steps in Russia-Ukraine Peace Process; Bessent Says China Tariff Status Quo 'Working Pretty Well'

Wed, 20 Aug 2025 09:45:26 +0000

On today's podcast:
1) After meeting with President Trump separately, Presidents Putin and Zelenskiy could be headed toward a pivotal face-to-face meeting to begin peace talks. But what each side is willing to give up to end the Russia-Ukraine war remains to be seen.
2)Treasury Secretary Scott Bessent indicated the US is satisfied with the current tariff set up with China, a signal the Trump administration is looking to maintain calm with its economic rival before a trade truce expires in November.
3) Wall Street’s selloff in tech heavyweights dragged down global markets on Wednesday, as investors cashed in gains from the leaders of the post-April rally.

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Trump Pushes for Putin-Zelenskiy Summit; Potential US-Intel Stake

Tue, 19 Aug 2025 09:48:57 +0000

On today's podcast:
1) President Trump pushes for a Putin-Zelenskiy meeting after yesterday's high stakes gathering at the White House. US and European officials started work on bolstering Ukraine's military as part of a package of security guarantees. The guarantees are aimed at allowing Ukraine to boost troop numbers without limitations, according to people familiar with the matter.
2) The Trump administration considers buying a 10% stake in Intel. The US government and SoftBank Group Corp. see potential for a turnaround at Intel, with the government valuing the company's manufacturing prowess and SoftBank valuing its chip design operations.
3) Earnings from the nation's biggest retailers kick off today as traders keep an eye on what Jay Powell will deliver from Jackson Hole.

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Zelenskiy and Allies Brace for Trump’s Terms; Jackson Hole Preview

Mon, 18 Aug 2025 09:54:31 +0000

On today's podcast:
1) Ukrainian President Volodymyr Zelenskiy and European leaders are heading to Washington to meet with President Trump after his Friday summit with Russian President Vladimir Putin. The leaders are looking to find out what President Trump committed to at his summit with Vladimir Putin.
2) Traders look ahead to this week's Federal Reserve's annual retreat in Jackson Hole, Wyoming. Investors are cautious ahead of Jackson Hole, with Fed Chairman Jerome Powell’s speech keenly watched for guidance on a September interest-rate cut.
3) Anti-war protests erupt in Israel over Prime Minister Netanyahu's plan to expand operations in the Gaza strip. Organizers said as many as half a million people attended the main rally at Tel Aviv’s “hostage square” in the evening, with the families of hostages saying “over 1 million people participated in hundreds of actions held across the country."

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Daybreak Weekend: Retail Earnings, European Banking, Japan Eco

Fri, 15 Aug 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to housing data and retail earnings.
In the UK – a look at challenges facing European banking consolidation ahead of an upcoming shareholder vote in Italy.
In Asia – a look at Japan CPI, PMI, and trade.

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Trump-Putin Meeting Countdown; Buffett Takes Stake in UnitedHealth

Fri, 15 Aug 2025 09:38:31 +0000

On today's podcast:
1) Traders are dusting off their geopolitical playbooks ahead of Friday’s meeting between Donald Trump and Vladimir Putin, looking for any signs as to how the outcome will shape the future direction of markets.
2) Warren Buffett’s Berkshire Hathaway Inc. bought shares of UnitedHealth Group Inc. in the second quarter, sending the health insurer’s stock soaring in post-market trading.
3) The Trump administration is in talks with Intel Corp. to have the US government take a stake in the beleaguered chipmaker, according to people familiar with the plan, in the latest sign of the White House’s willingness to blur the lines between state and industry.

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Instant Reaction: US Mulls Taking Stake in Intel

Thu, 14 Aug 2025 21:35:13 +0000

The Trump administration is in talks with Intel Corp. to have the US government potentially take a stake in the beleaguered chipmaker, according to people familiar with the plan, in the latest sign of the White House’s willingness to blur the lines between state and industry. The deal would help shore up Intel’s planned factory hub in Ohio, said the people, who asked not to be identified because the deliberations are private. The company had once promised to turn that site into the world’s largest chipmaking facility, though it’s been repeatedly delayed. The size of the potential stake isn’t clear.

The plans stem from a meeting this week between President Donald Trump and Intel Chief Executive Officer Lip-Bu Tan, the people said. While the details are still being sorted, the idea is for the US government to pay for the stake, one of the people said. Another cautioned that the plans remain fluid. Shares of Intel climbed as much as 8.9% on Thursday.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

Bloomberg senior executive editor for Global Tech Tom Giles
Bloomberg News deals reporter Ryan Gould

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Trump Issues Warning to Putin; Traders Price in September Rate Cut

Thu, 14 Aug 2025 09:36:45 +0000

On today's podcast:
1) President Donald Trump warned he would impose “very severe consequences” if Vladimir Putin didn’t agree to a ceasefire agreement later this week, following a call with European leaders ahead of his meeting with the Russian president.
2) Wall Street traders kept piling into bets that the Federal Reserve will soon be able to cut interest rates, with stocks hitting all-time highs and Treasury yields falling alongside the dollar.
3) Cisco Systems Inc., the largest maker of machines that run computer networks and the internet, gave a lukewarm forecast for the current fiscal year, disappointing investors who hoped for a boost from massive AI data center projects.

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Zelenskiy and EU Leaders Hold Key Call with Trump; Markets in Record Territory

Wed, 13 Aug 2025 09:34:09 +0000

On today's podcast:
1) Ukrainian President Volodymyr Zelenskiy said he won’t cede the eastern region of Donbas to Russia and pushed for Kyiv to be included in talks as the US and Russian leaders prepare to meet on Friday.
2) European stocks advanced as risk-on sentiment, fueled by mounting expectations of Federal Reserve interest rate cuts, continued to lift global equity markets and push bond yields lower.
3) Treasury Secretary Scott Bessent suggested that the Federal Reserve ought to be open to a bigger, 50 basis-point cut in the benchmark interest rate next month, after having skipped a move at the last meeting.

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China Urges Firms Not to Use Nvidia H20 Chips; Trump Extends China Truce for 90 Days

Tue, 12 Aug 2025 09:36:25 +0000

On today's podcast:
1) China has urged local companies to avoid using Nvidia Corp.’s H20 processors, particularly for government-related purposes, complicating the chipmaker’s attempts to recoup billions in lost China revenue as well as the Trump administration’s unprecedented push to turn those sales into a US government windfall.
2) President Donald Trump extended a pause of higher tariffs on Chinese goods for another 90 days into early November, stabilizing trade ties between the world’s two largest economies.Trump signed an order extending the truce through Nov. 10, deferring a tariff hike set for Tuesday. The de-escalation first took effect when the US and China agreed to reduce tit-for-tat tariff hikes and ease export restrictions on rare earth magnets and certain technologies.
3) Donald Trump downplayed expectations for his upcoming meeting with Russian leader Vladimir Putin as the US president seeks to end the war in Ukraine, casting it as a “feel-out meeting” and saying he would confer with Ukrainian and European leaders after the sitdown.

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Trump to Meet Putin in Alaska; Nvidia & AMD to Pay US 15% of China Chip Sales

Mon, 11 Aug 2025 09:33:11 +0000

On today's podcast:
1) Donald Trump plans to meet Russian President Vladimir Putin in Alaska as the US president looks to broker an agreement that will bring an end to the war in Ukraine.
2) Nvidia Corp. and Advanced Micro Devices Inc. agreed to pay 15% of their revenues from Chinese AI chip sales to the US government in a deal to secure export licenses, an unusual arrangement that may unnerve both US companies and Beijing.
3) US President Donald Trump said he hopes China will massively step up its purchases of American soybeans — comments that come a day before a trade truce expires

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The CEO Radar: 'No Regret' Moves for CEOs Facing Uncertainty (Sponsored Content)

Sun, 10 Aug 2025 14:00:00 +0000

While discussions of US tariff policies dominated Q2 earnings calls to an unprecedented degree, another equally important trend is bubbling just under the surface in C-suites and on trading floors: concern that the economic uncertainty caused by tariff turmoil may lead to a downturn. That’s the conclusion of the third edition of the CEO Radar—a tool to help CEOs determine which issues truly deserve their time and attention. It unpacks the leading topics discussed on more than 4,500 earnings calls worldwide in Q2 2025, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Mai-Britt Poulsen, Global Leader of BCGs Consumer & Retail Practice, to discuss how CEOs can build their resilience.

This episode of the CEO Radar Podcast is produced by Bloomberg Media Studios and sponsored by by BCG Global.

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Daybreak Weekend: US Inflation, Renewable Energy, RBA Decision

Fri, 08 Aug 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Guest Host Amy Morris take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI, PPI, and retail sales data, along with Cisco earnings.
In the UK – a look at Europe’s renewable energy sector and Vestas earnings.
In Asia – a look at ahead to the next RBA decision, and the impact of chip tariffs.

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Israel Poised to Storm Gaza City; Trump's Surprise Fed Pick

Fri, 08 Aug 2025 09:36:04 +0000

On today's podcast:
1) Israel's security cabinet approves a military takeover of Gaza City. Israeli Prime Minister Benjamin Netanyahu secured cabinet approval for a military takeover of Gaza City, described as part of a final push to topple Hamas. The decision marks an escalation in the conflict, with the Israel Defense Forces preparing to seize Gaza City while providing humanitarian aid to the civilian population outside combat zones.
2) President Trump makes a surprise move as he tries to reshape the Fed with the nomination of Stephen Miran to fill the seat on the Fed's Board of Governors that expires in January. Miran, the Chair of the Council of Economic Advisors, supports Trump's push to cut interest rates, and his nomination is seen as a signal of what Trump wants from the central bank ahead of his choice to succeed Jerome Powell.

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Major US Tariff Rates Take Effect; Trump-Putin Summit Scheduled

Thu, 07 Aug 2025 09:36:02 +0000

1) President Trump's tariffs take effect at their highest levels since World War 2. President Trump’s actions will push the average US tariff rate to 15.2%, according to Bloomberg Economics estimates, with some countries facing duties as high as 50%. The president has pledged that the tariffs will slash trade deficits and push companies to move manufacturing back to the US, but his critics say they could cause inflation to spiral out of control and cause shortages on store shelves.
2) The Kremlin said Presidents Vladimir Putin and Donald Trump will meet for summit talks within the next few days. President Trump said there was a "very good chance" he would meet with Putin and Ukrainian President Volodymyr Zelenskiy soon in another bid to broker peace between the two countries.
3) The president slaps significant levies on semiconductors — with a key exemption. President Trump declared plans to slap a 100% tariff on semiconductor imports, but promised to exempt companies that move production back to the US. Companies that demonstrate a commitment to building in the US, such as Apple, will be exempt from tariffs on chips, according to Trump.

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Trump Tariff Deadline Nears; Trump Fed Governor Decision Soon

Wed, 06 Aug 2025 09:33:23 +0000

On today's podcast:
1) President Donald Trump said he’d impose increased tariffs on countries buying energy from Russia while clarifying that levies on semiconductor and pharmaceutical imports would be announced “within the next week or so.”
2) President Donald Trump said he would make his decision on a replacement for outgoing Federal Reserve Governor Adriana Kugler this week as he looks to make his imprint on the central bank’s monetary policy.
3) The White House is racing to beat another self-imposed deadline to resolve Russia’s war in Ukraine, with President Donald Trump leaning hard on his special envoy, Steve Witkoff, to get Moscow to halt the fighting.

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Trump Vows to Ramp Up India Tariffs; Texas Governor Orders Arrest of Democrats

Tue, 05 Aug 2025 09:37:44 +0000

On today's podcast:

1) President Donald Trump said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies.

2) Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to block a controversial vote on new congressional maps.

3) Palantir Technologies Inc. reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial intelligence technology on its business.

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Trump to Name New Fed Governor; Boeing Workers Strike

Mon, 04 Aug 2025 09:44:12 +0000

On today's podcast:

1) President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth.

2) Workers at Boeing Co.’s St. Louis-area defense factories are striking for the first time in almost three decades after union members rejected the company’s modified contract offer.

3) US Trade Representative Jamieson Greer sounded a cautiously optimistic note on discussions with China on rare earth flows, following trade talks that further steadied ties between the economies.

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Daybreak Weekend: Disney Earnings, BP Reports, Apple India Shift

Fri, 01 Aug 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to earnings from Walt Disney and Uber.
In the UK – a look ahead to earnings from BP.
In Asia – a look at ahead to how US smartphone production will be impacted by Apple’s shift towards India, along with an outlook for China property.

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Trump Tariffs Send Stocks Lower; Amazon Falls & Apple Gains on Earning

Fri, 01 Aug 2025 09:42:00 +0000

On today's podcast:
1) Markets take a hit as President Trump unleashes a wave of new tariff rates. The world is facing some of the steepest US tariffs since the 1930s, with an average of 15%, according to the text. So far, the global economy has held up better than many economists expected after Trump’s initial tariff blitz. A rush to beat the elevated rates spurred a front-loading of exports, aiding many Asian economies and shielding US consumers from price spikes.
2) Shares of Amazon sell off while Apple rises following the latest tech earnings. Apple reported its fastest quarterly revenue growth in more than three years, with revenue rising 9.6% to $94 billion in the fiscal third quarter. Amazon dropped in premarket trading after projecting weaker-than-expected operating income and trailing the sales growth of its cloud rivals. CEO Andy Jassy said it was "very early days" in artificial intelligence, and that the company's efforts to lower the costs of running AI applications would draw more customers over time.
3) Investors prepare for the July jobs report to wrap up a week of key US economic data. Bloomberg Economics predicts July’s seasonally adjusted nonfarm payrolls to increase by 160,000 — higher than the consensus expectation of 105,000.

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Microsoft, Meta Post Big Gains; President Trump Announces Tariff Deals

Thu, 31 Jul 2025 09:46:46 +0000

On today's podcast:

1) Tech stocks surge after blowout quarters by Microsoft and Meta, and more Mag 7 earnings on tap as Apple and Amazon report today. Microsoft shares gained more than 8% in after-hours trading while Meta jumped more than 11% after both pledged to spend lavishly on artificial intelligence. Stocks rose in early trading as upbeat earnings helped drive optimism over resilient corporate profits.

2) Fed Chair Jay Powell bucks pressure from the White House and two dissenters to leave rates unchanged. The dollar dropped, sliding from its highest level since May after Fed Chair Jay Powell Wednesday said no decision had been made about easing policy in September.

3) President Trump unleashes a flurry of trade surprises ahead of tomorrow's deadline. The president announced tariffs of 15% on imports from South Korea and 25% on imports from India, accompanied by criticism of India's purchases of Russian energy and weapons. Deals are being drafted or have been agreed upon with several countries, including Thailand, Cambodia, and Taiwan, as Trump attempts to create a new global trade order.

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Trump to Make Call on China Truce; Fed Decision and Mag 7 Earnings Coming

Wed, 30 Jul 2025 09:37:30 +0000

On today's podcast:
1) President Donald Trump is set to make the final call on maintaining a tariff truce with China before it expires in two weeks, an extension that would mark a con
2) Stocks struggled in the hours before Wednesday’s Federal Reserve interest-rate decision as traders tackled a heavy load of major company earnings.
3) Four-foot (1.2-meter) tsunami waves were recorded in Hawaii, while remote parts of California also braced for impact after a powerful earthquake in Russia’s Far East triggered tsunami alerts across the Pacific.

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Deadly NYC Office Shooting; US and China Talks Optimism

Tue, 29 Jul 2025 09:57:52 +0000

On today's podcast:
1) Work was winding down at 345 Park Avenue on Monday when a man strode across the public plaza just outside the Midtown Manhattan tower with an assault rifle in his hand.Within minutes, at least four people were dead, as well as the gunman, in a mass shooting in the epicenter of American finance. The harrowing scene unfolded in the 44-story, dark-glass tower that houses the offices of private equity giant Blackstone Inc., consultant KPMG, the National Football League and building landlord Rudin Management.
2) Commerce Secretary Howard Lutnick said a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm.
3) Barclays Plc’s traders turned in their best second quarter performance in three years as the volatility wrought by US President Donald Trump’s trade war helped them deliver revenue that topped analyst expectations.

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US and EU Reach Tariff Deal; US and China Hold Trade Talks On today's podcast:

Mon, 28 Jul 2025 09:32:54 +0000

On today's podcast:
1) The US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy.
2) US and Chinese officials are meeting Monday to extend their tariff detente beyond a mid-August deadline, and haggle over other ways to further defuse trade tensions.
3) Wall Street pros are staring down a pivotal week that will likely set the tone for the rest of the year in markets and the economy.First and foremost is the conclusion of the Federal Reserve’s meeting on Wednesday, and although it isn’t expected to cut interest rates, traders and investors will be poring over commentary for clues about the path ahead. Then there’s a string of Big Tech earnings with Amazon.com Inc., Apple Inc., Meta Platforms Inc. and Microsoft Corp. all reporting. And sprinkled throughout are some key indicators on the state of the economy, from gross domestic product to nonfarm payrolls.

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Daybreak Weekend: Fed Decision, Scotland Trip, China PMI

Fri, 25 Jul 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to a monetary policy decision from the Fed and earnings from some of the “Magnificent Seven” tech companies.
In the UK – a look at President Trump’s trip to Scotland.
In Asia – a look at ahead to China PMI data and a conversation on Asia tech investing.

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Trump Visits Fed HQ, Downplays Clash With Powell; Intel Shares Slide on Turnaround Concerns

Fri, 25 Jul 2025 09:41:05 +0000

On today's podcast:
1) Federal Reserve Chair Jerome Powell is smack in the middle of one of President Donald Trump’s preferred attack strategies — flooding the zone.
2) Intel Corp. tumbled in late trading after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge.
3) Paramount Global’s merger with Skydance Media was approved by the US Federal Communications Commission, which backed the deal after the Trump administration extracted concessions on the news and entertainment company’s political coverage and diversity practices.

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Trump Says Countries Will Face Tariffs Ranging From 15% to 50%; Trump to Tour Fed Construction Site

Thu, 24 Jul 2025 09:30:44 +0000

1) US President Donald Trump suggested that he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising.
2) Donald Trump will personally visit the Federal Reserve Thursday to tour a construction site he’s criticized for cost overruns amid his escalating attacks on Fed Chair Jerome Powell for not cutting rates.The White House announced the visit in the release of the president’s daily public schedule. The visit is planned for 4 p.m. reading simply, “THE PRESIDENT visits The Federal Reserve,” without further details.
3) Elon Musk warned of difficult times ahead for Tesla Inc. after one of the automaker’s worst quarters in over a decade.Tesla will be a transition period for the next year or more, losing electric vehicle incentives in the US and needing time to roll out autonomous vehicles, the chief executive officer said.

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Trump Strikes Trade Deal With Japan, Microsoft Warns of Nuclear Security Hack

Wed, 23 Jul 2025 09:48:06 +0000

On today's podcast:
1) President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US.
2) Microsoft Corp. warned that Chinese state-sponsored hackers are among those exploiting flaws in its SharePoint software to break into institutions globally, with the US agency responsible for designing nuclear weapons now among those breached.
3) The record-breaking run in global stocks got fresh fuel after the US reached a trade deal with Japan, easing concern about the tariff war as traders turn their attention to earnings from US tech giants.

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Bessent Calls for Fed Building Review; Stocks at All-Time Highs

Tue, 22 Jul 2025 09:35:46 +0000

On today's podcast:
1) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington.
2) A cohort of the world’s largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions.
3) Japan’s chief trade negotiator Ryosei Akazawa met with US Commerce Secretary Howard Lutnick on Monday as an Aug. 1 deadline for higher tariffs looms.

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US-EU Trade Deal Concerns; Trump Responds to Powell Report

Mon, 21 Jul 2025 09:40:08 +0000

On today's podcast:
1) The European Union prepares for the worst as it races to secure a trade deal with the US. European Union and US negotiators are heading into another week of intensive talks to clinch a trade deal by Aug. 1, when US President Trump has threatened to hit most EU exports with 30% tariffs.
2) Microsoft rushes to fix a widespread cyberattack on its server software. Microsoft's server software was exploited by unidentified hackers, with analysts warning of widespread cybersecurity breaches across the globe. Silas Cutler, a researcher at Censys, said "It's a dream for ransomware operators, and a lot of attackers are going to be working this weekend as well," regarding the breach.
3) President Trump pushes back at a report that he got advice not to fire Fed Chair Jay Powell. The president took to social media to criticize a Wall Street Journal article that reported his Treasury Secretary Scott Bessent advised against firing Powell. Trump insisted that he didn't need Bessent's advice.

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Daybreak Weekend: Tesla Earnings, ECB Decision, Japan Election

Fri, 18 Jul 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby take a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to housing data and earnings from Tesla.
In the UK – a look ahead to the next ECB monetary policy decision.
In Asia – a look at ahead to Japan’s upper house election.

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Trump Calls for Release of Epstein Jury Documents; Powell Answers Criticism of Fed Renovations

Fri, 18 Jul 2025 09:44:32 +0000

On today's podcast:
1) US President Donald Trump authorized the Justice Department to seek the release of grand jury testimony from the prosecution of Jeffrey Epstein, bowing to mounting pressure from his supporters for more transparency about the late, disgraced financier.
2) Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project.
3) While rival media companies are unloading assets and cutting costs, Netflix Inc. continues to thrive.

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Instant Reaction: Netflix Tops Wall Street Estimates

Thu, 17 Jul 2025 21:27:25 +0000

While rival media companies are unloading assets and cutting costs, Netflix Inc. continues to thrive.

The owner of the world’s most popular paid streaming service on Thursday reported second-quarter results that exceeded investor expectations in every major metric, saying revenue grew to $11.1 billion and earnings jumped to $7.19 a share. The company also raised its forecast for full-year sales and profit margins.

The second quarter is historically slow for Netflix, which typically adds more customers at the beginning and end of the year. But the company released a steady slate of popular shows, including two of the most-watched titles of the year — the third season of Ginny & Georgia and the final season of Squid Game. The company also benefited from a weaker dollar. More than two-thirds of its customers live outside the US.

For instant reaction and analysis, hosts Tim Stenovec and Norah Mulinda speak with Geetha Ranganathan, Bloomberg Intelligence Senior Media Analyst and Mark Douglas, CEO of MNTN.

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Trump-Powell Firing Drama Rattles Markets; Senate Passes DOGE Cuts

Thu, 17 Jul 2025 09:36:07 +0000

On today's podcast:
1) President Donald Trump said he’s not planning to fire Jerome Powell, and still managed to make it sound like a threat.
2) Republicans are set to succeed in their decades-long quest to end federal funding for public broadcasting after the Senate passed a $9 billion package of cuts derived from Elon Musk’s Department of Government Efficiency effort.
3) President Donald Trump said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15% as he forges ahead with his trade agenda.

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Trump Threatens Drug Tariffs; Hassett Frontrunner For Fed Chair

Wed, 16 Jul 2025 09:40:38 +0000

On today's podcast:
1) President Donald Trump said he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on Aug. 1
2) Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.
3) Nvidia Corp. boss Jensen Huang anticipates getting the first batch of US licenses to export H20 AI chips to China soon, formally allowing the company to resume sales of a much sought-after component to the world’s top semiconductor arena.

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Nvidia Hits All-Time High; Big Bank Earnings Preview

Tue, 15 Jul 2025 09:59:47 +0000

On today's podcast:
1) Nvidia surges to an all-time high on news it will resume Chip sales to China. US government officials told Nvidia they would green-light export licenses for the H20 artificial intelligence accelerator, according to the company. The move is seen as a "massive win" for Nvidia's Chief Executive Officer Jensen Huang, and is also viewed positively by Vey-Sern Ling, managing director at Union Bancaire Privee, who says it is "obviously positive" for Nvidia, the AI semiconductor supply chain, and China tech platforms.
2) The European Union puts out new tariff targets if it can't reach a deal with the US. The European Union has finalized a list of countermeasures to target US goods worth €72 billion, including Boeing Co. aircraft, automobiles and bourbon. The list includes US machinery products, chemicals and plastics, medical devices, electrical equipment, wines and other agricultural goods, according to a document prepared by the European Commission. The EU trade chief Maros Sefcovic says the US tariff policy is "effectively prohibitive" to transatlantic trade, and the EU insists any settlement must be mutually beneficial to both sides.
3) Big bank earnings begin with JPMorgan Chase, Wells Fargo, and Citi reporting. America’s biggest banks are heading into earnings season with tailwinds from trading and lending as they benefit from market volatility and steady borrowing costs. Investment banking may be a weak spot as sluggish closings offset a pickup in deal announcements, Bloomberg Intelligence said.

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EU-US Tariff Battle Heats Up; Trump Will Send Air-Defense to Ukraine

Mon, 14 Jul 2025 09:34:39 +0000

On today's podcast:
1) The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter.
2) President Donald Trump said the US will send more Patriot air-defense batteries to Ukraine, which Kyiv has said it needs to protect itself from Russian airstrikes.
3) Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.

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Daybreak Weekend: Netflix Earnings, Reeves Speech, Japan Eco

Fri, 11 Jul 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI and PPI data, along with Netflix earnings.
In the UK – a look ahead to a speech from UK Chancellor Rachel Reeves.
In Asia – a look at several key data points for the Japanese economy.

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Trump Threatens Higher Canada Tariffs; Stocks & Bitcoin at All-Time Highs

Fri, 11 Jul 2025 09:35:04 +0000

On today's podcast:
1) President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.
2) Stocks rose as traders parsed a batch of corporate outlooks, with the S&P 500 hitting a record and approaching 6,300.
3) President Donald Trump said he plans to make a “major statement” on Russia, as the US prepares to send more American weapons to Ukraine via purchases from NATO allies.

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Trump Hikes Brazil Tariffs; Texas Flood Recovery Efforts

Thu, 10 Jul 2025 09:31:05 +0000

On today's podcast:
1) Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva.

2) Crews in central Texas are digging through massive piles of debris, overturned vehicles and shattered homes for a sixth day as the search continues for victims of flash floods that killed more than 100 people over the Fourth of July weekend.

3) Nvidia Corp. became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market.

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Trump Unleashes Turmoil in Copper Markets; Search for Missing in Texas Continues

Wed, 09 Jul 2025 09:34:23 +0000

On today's podcast:

1) President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on copper imports, spurring a record spike in New York futures and a drop in the global benchmark.

2) Greg Abbott says authorities believe at least 161 people may still be unaccounted for in Kerr County, which was hit by devastating floods over the Fourth of July weekend.

3) Apple Inc. Chief Operating Officer Jeff Williams is retiring as the company’s longtime No. 2, marking a major changing of the guard at an already tumultuous time for the iPhone maker.

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Trump Sends Tariff Letters; Apple Loses Top AI Exec to Meta

Tue, 08 Jul 2025 09:31:42 +0000

On today's podcast:
1) President Trump sends out a wave of tariff letters, while suggesting he's open to negotiations. President Trump released letters threatening higher tariffs, but he extended the deadline for talks to Aug. 1, the day that the new levies will take effect. The letters were released two days before agreements were due from trading partners facing Trump’s so-called reciprocal levies.
2) The death toll rises in Texas as questions remain about preparedness for the disaster. More than 100 people have been confirmed dead in floods that tore through central Texas over the weekend. The disaster has sparked debate about whether anything more could have been done to prevent it, with questions raised about warning systems, forecasts, and notification of people in the affected areas.
3) A setback for Apple as a top AI executive leaves to join Meta. Ruoming Pang, a distinguished engineer and manager in charge of Apple's foundation models team, is leaving for Meta Platforms Inc. Meta offered Pang a package worth tens of millions of dollars per year, according to people with knowledge of the matter. Pang's departure could be the start of a string of exits from the AFM group, with several engineers telling colleagues they are planning to leave in the near future to Meta or elsewhere, the people said.

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Deadly Flash Floods Devastate Texas; Trump Tariff Deadline Looms

Mon, 07 Jul 2025 09:46:23 +0000

On today's podcast:
1) More than 80 people die in flash floods across Texas as search and rescue efforts continue. A catastrophic flood in Kerrville, Texas, caused by torrential rains, has resulted in at least 82 deaths and many missing, including children, with the area remaining at risk of further inundation. Politicians are questioning whether federal, state, and local officials were adequately prepared, with some raising concerns about the accuracy of weather forecasts and potential staffing cuts at the National Weather Service.

2) President Trump shifts his economic focus from taxes to trade as his tariff deadline looms. The US is preparing to send tariff letters to dozens of countries in the coming days, with the Trump administration’s 90-day pause on higher duties set to expire on Wednesday. Trump said in a separate post that the letters would start being delivered from noon Monday, Washington time.

3) Tesla shares tumble after Elon Musk makes plans for a new political party. President Trump criticized Elon Musk's bid to start a new political party, calling it "ridiculous" and saying that third parties have never worked in the US. Musk announced the formation of a new "America Party" on Saturday, a day after Trump signed a tax-cut and spending bill into law that Musk had denounced.

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Daybreak Weekend: Summer Travel, Jamie Dimon, China Data

Fri, 04 Jul 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to Delta earnings and a summer travel outlook.
In the UK – a look ahead to JP Morgan's Jamie Dimon visit to Ireland ahead of the US tariff deadline for Europe
In Asia – a look at how recent data from China are providing an ambiguous read on the health of the world's second largest economy.

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Holiday Special: 2025 Tech Trends with Ives and Munster

Fri, 04 Jul 2025 09:00:00 +0000

In a special July 4th edition of Bloomberg Daybreak...Bloomberg’s Nathan Hager looks at the biggest tech stories from 2025 and what we can expect for the rest of the year. He speaks with Gene Munster of Deepwater Asset Management and Dan Ives from Wedbush.

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Trump Tax Bill Passes Key Hurdle; Traders Await June Jobs Report

Thu, 03 Jul 2025 09:54:19 +0000

On today's podcast:
1) President Trump twists arms in Congress to pass his tax cut bill as House Republicans overcome a key hurdle. The House voted 219-213 to move toward a final vote on Trump's "big beautiful bill", which includes tax cuts, a phase-out of Biden-era clean energy incentives, and funding for Trump's crackdown on illegal immigration. Debate began immediately on the legislation, setting up a potential final vote for later in the morning in Washington, ahead of Trump's self-imposed July 4 deadline.
2) Traders and the Fed await a critical June jobs report. Markets are cautious ahead of the employment report, which will help identify the path ahead for interest rates, with investors closely monitoring economic data before adding to their portfolios.
3) The Trump administration lifts chip design software curbs in a trade deal with China. The Commerce Department informed the world's three leading chip design software providers that they no longer need government licenses to do business in China.

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Tax Bill Hits Republican Resistance; Trump's Tariff Threats Continue

Wed, 02 Jul 2025 09:52:32 +0000

On today's podcast:
1) Donald Trump’s multitrillion-dollar tax bill is running into Republican resistance in the House as moderate and ultraconservative GOP lawmakers threaten to defy the president and sink his domestic agenda
2) President Donald Trump threatened Japan with tariffs of up to 35% as he ramped up tensions for a third straight day, fueling fears of a worst-case scenario among market players and raising doubts over Tokyo’s tactics in trade talks.
3) Wall Street’s largest lenders boosted their dividends after passing this year’s Federal Reserve stress tests, a hurdle that regulators made easier to clear by softening some of the requirements laid out in previous years.

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Senate Pulls All-Nighter on Tax Bill; Trump Takes Aim at Musk

Tue, 01 Jul 2025 09:50:53 +0000

On today's podcast:
1) Senate Republican leaders continue to scrounge for votes to pass Donald Trump’s $3.3 trillion tax and spending bill as lingering intraparty fights threaten to upend the legislative centerpiece of the president’s domestic agenda.
2) President Donald Trump lashed out at Elon Musk on Tuesday, accusing the Tesla Inc. and SpaceX chief executive officer of benefiting excessively from government electric vehicle subsidies. Tesla shares tumbled.
3) US equity futures are taking a breather after the S&P 500 notched its best quarter since 2023, as investors monitor progress on trade talks and wrangling in Washington over President Donald Trump’s tax bill.

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Senate Republicans Race to Finish Tax Cut Bill; Stocks at All-Time Highs

Mon, 30 Jun 2025 09:57:50 +0000

On today's podcast:
1) Senate Majority Leader John Thune is rushing to meet President Donald Trump’s July 4 deadline for pushing through his massive tax and spending bill, but first he has to work through a list of approximately eight Republican senators who have expressed opposition to portions of it.
2) US equity futures climbed as progress in trade negotiations between the Trump administration and key partners added to the upbeat sentiment that had pushed the S&P 500 to a fresh record high.
3) Canada has withdrawn its digital services tax on technology companies such as Meta Platforms Inc. and Alphabet Inc. in a move to restart trade talks with the US.

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Daybreak Weekend: Jobs Preview, France Conference, China-Iran Relations

Fri, 27 Jun 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the June jobs report and commodities outlook.
In the UK – a look ahead to the annual summer economic conference in the Southern French city of Aix.
In Asia – a look at relations between China and Iran.

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China Confirms Trade Framework; Stocks on Brink of Record Highs

Fri, 27 Jun 2025 09:35:13 +0000

1) China said it has further confirmed details of a trade framework with Washington, echoing US Commerce Secretary Howard Lutnick’s earlier comments about a US-China agreement that stabilized ties.
2) Stocks gained as the US moved closer to trade deals with China and other major trading partners, while expectations are rising for Federal Reserve interest-rate cuts this year.
3) The Treasury Department announced a deal with G-7 allies that will exclude US companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from President Donald Trump’s tax bill.

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US-Iran Nuclear Talks; Trump's List to Succeed Fed Chair Powell

Thu, 26 Jun 2025 09:48:57 +0000

On today's podcast:

1) President Donald Trump said the US would hold a meeting with Iran next week but cast doubt on the need for a diplomatic agreement on the country’s nuclear program, citing the damage that American bombing had done to key sites.

2) President Donald Trump said he has three or four people in mind to succeed Federal Reserve Chair Jerome Powell when his term expires next year.

3) Shell Plc said it has no intention of making a takeover offer for BP Plc, refuting an earlier report that two of Europe’s biggest companies were in active merger talks.

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Mamdani Stuns in NYC Mayoral Primary; Trump Disputes Iran Damage Report

Wed, 25 Jun 2025 09:58:23 +0000

On today's podcast:
1) Former New York Governor Andrew Cuomo conceded to his upstart rival Zohran Mamdani in the Democratic primary in the race to become mayor of New York City after the 33-year-old Queens lawmaker racked up commanding leads across Brooklyn, Queens and Manhattan.

2) US President Donald Trump disputed an intelligence report that found the airstrikes he ordered on Iran had only a limited impact on its nuclear program, even though the assessment came from the Pentagon.

3) NATO leaders sought to project confidence that the US will defend allies after President Donald Trump fueled doubts about his administration’s continued commitment to crucial collective obligations.

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Israel-Iran Truce in Question; President Trump Calls for Rate Cuts

Tue, 24 Jun 2025 09:54:16 +0000

On today's podcast:
1) President Trump declares a ceasefire between Israel and Iran, but Israel is accusing Iran of breaching it. President Trump declared the ceasefire after a night of attacks, saying Iran had "gotten it out of their system" and thanking Tehran for giving early notice of their missile strike on a US air base in Qatar. Israel agreed to the truce as long as Iran did not launch further attacks, and the Iranian government signaled it would abide by those terms, according to a senior White House official.

2) Voters in New York head to the polls for the Democratic Mayoral Primary. Polls open at 6 am on Tuesday and voters will choose from 11 candidates who are running for the official Democratic ticket. Surveys show the contest is expected to come down to former Governor Andrew Cuomo and New York State Assembly member, Zohran Mamdani.

3) President Trump blasts Jay Powell again hours before the Fed chair speaks to Congress. Powell will testify before the House Financial Services Committee and the Senate Banking Committee this week, explaining why interest rates will likely remain steady until at least September. In a post on social media, President Trump says he hopes Congress b"really works" Powell over for not lowering rates already.

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Instant Reaction: Trump Announces Tentative Israel-Iran Ceasefire

Mon, 23 Jun 2025 23:55:19 +0000

President Donald Trump announced that Israel and Iran had agreed to a tentative ceasefire in their conflict that would begin around midnight Washington time on Monday.

Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran’s nuclear facilities, said the accord is aimed at a lasting end to the fighting.

“On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called “THE 12 DAY WAR.”

For instant reaction and analysis, host Doug Krizner spoke with Bloomberg Balance of Power cohost Joe Mathieu, and Jonathan Panikoff, director of the Scowcroft Middle East Security Initiative at the Atlantic Council's Middle East Program.

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World Awaits Iran's Response; Oil & Markets Reaction to Conflict

Mon, 23 Jun 2025 09:49:45 +0000

On today's podcast:
1) Iran vowed retaliation and kept up attacks on Israel following the US strikes on its nuclear facilities over the weekend, fueling fears of a wider war in the Middle East and rattling global markets.
2) President Donald Trump’s decision to order US forces to attack three key Iranian nuclear installations may have sabotaged the Islamic Republic’s known atomic capabilities, but it’s also created a monumental new challenge to work out what’s left and where.
3) Oil erased earlier gains as fears began to fade of an immediate disruption to supplies from the Middle East, following US strikes on key Iranian nuclear sites.

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Daybreak Weekend: Nike Preview, TheCityUK, China Eco Survey

Fri, 20 Jun 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S GDP and personal spending data and Nike earnings.
In the UK – a look ahead to TheCityUK's annual conference.
In Asia – a look ahead to Bloomberg’s China economic survey.

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Guests:

-Michael McKee, Bloomberg International Economics and Policy Correspondent, to preview next week's U.S GDP/personal spending data.

- Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, to preview Nike earnings.

-Leo Kehnscherper, Bloomberg European Asset Management Reporter, looks ahead to TheCityUK's annual conference.

-Julian Harris, UK Economics Editor, looks ahead to TheCityUK's annual conference.

- Eric Zhu, China Economist for Bloomberg Economics, discusses Bloomberg’s China Economic Survey.

-Karishma Vaswani, Bloomberg Opinion Columnist in Singapore, discusses her column: “US Rethink on Australia Subs Is China’s Win.”

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Two Week Iran Strike Deadline; Trump Can Continue National Guard in LA

Fri, 20 Jun 2025 09:34:57 +0000

On today's podcast:
1) President Donald Trump will decide within two weeks whether to strike Iran, his spokeswoman said, as Israel hit more Iranian nuclear sites and warned its attacks may bring down the leadership in Tehran.
2) President Donald Trump can continue to use National Guard troops to respond to protests in Los Angeles as a legal challenge over his use of the military proceeds, a federal appeals court ruled.
3) SoftBank Group Corp. founder Masayoshi Son is seeking to team up with Taiwan Semiconductor Manufacturing Co. to realize what could be his biggest bet yet — a trillion-dollar industrial complex in Arizona to build robots and artificial intelligence.

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Daybreak Holiday: DEI, Antitrust, Summer Vacations

Thu, 19 Jun 2025 09:00:00 +0000

On this special holiday edition of Bloomberg Daybreak US edition, host Nathan Hager speaks with:

Simone Foxman about how companies are delaying Impact Reports with DEI under attack.
Jen Rie details the state of tech antitrust cases as we hit the halfway point of 2025
Chris Rovzar and Nikki Ekstein take us through Bloomberg Pursuits annual guide to summer

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President Trump Weighs Iran Intervention; Fed Meeting Look Ahead

Wed, 18 Jun 2025 09:32:18 +0000

On today's podcast:

1) President Trump meets his national security team as the Israel-Iran conflict rages on. Iran and Israel exchanged fire for a sixth day, with the US President meeting with his national security team to discuss the escalating conflict. The US is helping Israel intercept missiles launched by Iran, but has not joined the attacks, despite calls from some political allies to do so. The conflict has raised concerns about a wider impact on the global economy, with oil prices rising and fears of a possible attack on tankers sailing through the Strait of Hormuz.

2) Traders watch for projections as the Fed is expected to keep rates on hold. Federal Reserve officials are expected to leave interest rates unchanged for a fourth straight meeting, citing a need for more clarity on the economic impact of government policy changes. Chair Jerome Powell will likely face questions about the recent cooling of inflation and the potential for future rate cuts, as well as his meeting with President Trump and the Fed's ability to pay interest on reserves held at the central bank.

3) A candidate for New York City mayor is arrested in Manhattan. New York City Comptroller Brad Lander was arrested outside of immigration court in lower Manhattan while escorting a defendant out of court. Lander was detained by US Immigration and Customs Enforcement agents and accused of assaulting a law enforcement officer, but was later released and told he wouldn’t face charges.

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Trump Leaves G-7 Early; Oil Rises With Iran in Focus

Tue, 17 Jun 2025 09:36:17 +0000

1) US President Donald Trump left the Group of Seven leaders meeting in Canada early to deal with the Israel-Iran conflict, but played down the chances of a ceasefire.

2) Israel and Iran have exchanged fire for the fourth consecutive day, sparking fears of an all-out war that could drag in other countries in the oil-rich region and force the US into a more hands-on stance.

3) Senate Republicans plan to delay and make less onerous a levy targeting foreign companies and investors from countries that the US determines have been unfairly taxing US companies.

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Israel-Iran Strikes Escalate; Spaun Wins US Open in Dramatic Finish

Mon, 16 Jun 2025 09:54:57 +0000

On today's podcast:
1) Hostilities between Israel and Iran entered a fourth day on Monday with no sign of easing, stoking fears of a wider war in the oil-rich region.

2) The man suspected of killing a Democratic state lawmaker and her husband in Minnesota has been taken into custody, the Ramsey County Sheriff’s Office said.

3) J.J. Spaun endured the toughest test in golf on the toughest course in America in the worst kind of conditions. And then he turned this miserable, wet Sunday at Oakmont into a finish as memorable as any in the U.S. Open.

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Daybreak Weekend: Fed Meeting, BOE Decision, BOJ Policy

Fri, 13 Jun 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to next week’s Fed decision.
In the UK – a look ahead to next week’s Bank of England decision.
In Asia – a look ahead to next week's Bank of Japan decision.

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Israel Strikes Iran; Trump Court Victory on Protests

Fri, 13 Jun 2025 09:54:45 +0000

On today's podcast:
1) Israel attacks Iran's nuclear and ballistic missile programs in a major escalation of hostilities and oil prices surged on fears of a wider war. Iran has vowed reprisals and sent drones toward Israel. The UN atomic watchdog says there are no signs of increased radiation at Iran’s main enrichment site. The airstrikes did kill the commander of Iran’s Revolutionary Guard. The US says it knew of the Israeli attack beforehand but was not involved. It warned Iran against targeting US assets.

2) An appeals court lets President Trump keep using the National Guard in Los Angeles for now. A 3-judge panel of the 9th US Circuit Court of Appeals put on hold a judge's order to pull back on the Trump administration's use of military troops in Los Angeles to deal with protests over immigration raids. The appeals court scheduled a hearing for Tuesday to discuss further action in the case, with written arguments from the administration and California due before then.

3) Frontrunners take aim at each other in the final New York City mayor's debate. democratic candidates held their second debate ahead of this month's primary election. The 33 year old socialist state Assemblyman Zohran Mamdani, who has become one of top contenders in the race, found himself the target of jabs from former Governor Andrew Cuomo. Cuomo, who is in the midst of a political comeback after resigning as governor over a sexual harassment scandal, has long been the favorite.

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Breaking News: India Plane Crash with 242 People on Board

Thu, 12 Jun 2025 10:57:53 +0000

A Boeing Co. 787 Dreamliner aircraft operated by Air India that was bound for London crashed shortly after taking off in Ahmedabad, in what stands to be the worst accident involving the US planemaker’s most advanced widebody airliner.
Flight AI171 was carrying 242 passengers and crew. Video footage shared on social media showed a giant plume of smoke engulfing the crash site, with no reports of survivors.
The aircraft entered a slow descent shortly after taking off, with its landing gear still extended before exploding into a huge fireball upon impact. The crash took place in a residential area, which could mean a higher death toll. The twin-engine plane had reached an altitude of 625 feet (190.5 meters) at a speed of 174 knots, according to data from Flightradar24.
The accident extends a series of serious and fatal incidents in the civil aviation industry this year, including a mid-air collision in Washington early in 2025 between a military helicopter and an aircraft. Air India is in the middle of a strategic turnaround that includes a huge aircraft order as it seeks to tap growing demand from a rising Indian middle class.
Indian Prime Minister Narendra Modi said the accident is “heartbreaking beyond words,” according to a statement, adding that he’s been in touch with ministers and authorities assisting the salvage operation.
Boeing shares fell 7% in premarket US trading. The 787 is the company’s most advanced in-service aircraft and is popular with airlines because it is more fuel efficient thanks to its use of lightweight composite materials. Boeing said it’s “aware of initial reports and are working to gather more information.”

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Plane Crashes in India With 242 on Board; LA Protests Spread

Thu, 12 Jun 2025 09:53:04 +0000

On today's podcast:

1) An Air India Ltd. Boeing Co. 787 aircraft traveling from Ahmedabad in India to London’s Gatwick airport crashed shortly after taking off, in what stands to be the most serious accident involving the US planemaker’s most advanced widebody airliner. The airline said that Flight AI171 was “involved in an incident” and that Air India is “ascertaining the details.” Footage shared on social media showed a giant plume of smoke engulfing the crash site, with no reports of fatalities or survivors. The flight was carrying 242 passengers and crew, according to news agency ANI.

2) Los Angeles spends another night under curfew as protests spread to more cities. Protests over immigration raids in Los Angeles have spread to other US cities, including New York, Chicago, and Milwaukee, with clashes between protesters and law enforcement. The federal government has expanded its show of force, deploying National Guard troops and authorizing the use of the Hobbs Act to take over criminal cases, which California officials have criticized as "unlawful, unconstitutional and undemocratic".

3) President Trump says he will set unilateral tariffs on countries in 2 weeks. The president plans to send letters to trading partners in the next one to two weeks setting unilateral tariff rates ahead of a July 9 deadline. President Trump has threatened to impose higher duties on dozens of economies, but has only reached a trade framework with the UK and a tariff truce with China, which was recently threatened.

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US-China Trade Framework; Musk Regrets Posts about Trump

Wed, 11 Jun 2025 09:48:27 +0000

On today's podcast:
1) The US and China capped two days of high-stakes trade talks with a plan to revive the flow of sensitive goods — a framework now awaiting the blessing of Donald Trump and Xi Jinping.
2) Elon Musk, who served as a close adviser and confidante to President Donald Trump until a bitter public falling out last week in a series of social-media posts, issued his strongest sign of contrition yet over how he handled the rupture.
3) California Governor Gavin Newsom accused President Donald Trump of misusing his power by mobilizing troops in Los Angeles and warned other states to prepare for similar unrest, as protests over immigration raids stretched into a fifth night and led to a curfew in parts of the city’s downtown.

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Trump Deploys Marines to LA; US-China Trade Talks Resume

Tue, 10 Jun 2025 09:50:41 +0000

On today's podcast:
1) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and increasing tensions with California officials.
2) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.
3) Mark Zuckerberg, frustrated with Meta Platforms Inc.’s shortfalls in AI, is assembling a team of experts to achieve artificial general intelligence, recruiting from a brain trust of AI researchers and engineers who’ve met with him in recent weeks at his homes in Lake Tahoe and Palo Alto.

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LA Clashes Escalate as Trump Deploys National Guard; US-China Trade Talks

Mon, 09 Jun 2025 09:42:11 +0000

On today's podcast:

1) Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order.

2) The US and China are set to resume trade negotiations in London on Monday in a bid to further defuse tensions over rare-earth minerals and advanced technology following a phone call between leaders Donald Trump and Xi Jinping last week.

3) Apple Inc. shares have been heavily tethered to US trade policies this year, but its annual developer’s conference could refocus Wall Street’s attention on a potentially bigger problem: its struggles with artificial intelligence.

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Targeting Pain (Sponsored Content)

Sun, 08 Jun 2025 10:00:00 +0000

Damian Sanchez, (Damian J to music fans) is a Miami-based jazz musician. A car accident landed him in the hospital with multiple fractures to his leg. Once there, he faced the difficult decision of whether or not to take the pain medication that was offered to him. With patients like Damian in mind, Dr. Paul Negulescu and the research team at Vertex are thinking differently about pain – they’re investigating potential non-opioid based treatment options that aim to target pain differently.

This episode of Targeting the Toughest Diseases is sponsored by Vertex Pharmaceuticals.

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Daybreak Weekend: US CPI, London Tech Summit, China Eco

Fri, 06 Jun 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S CPI and PPI data and Tesla’s Robotaxi launch.
In the UK – a look ahead to London’s Tech Summit.
In Asia – a look ahead to readings on Chinese exports, as well industrial production and retail sales.

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Trump, Musk Trade Threats; US-China Tensions Cool

Fri, 06 Jun 2025 09:51:27 +0000

On today's podcast:

1) Elon Musk and President Donald Trump engage in a public dispute the traded personal barbs and weighed down Tesla stock and Musk's personal wealth. The dispute began over differences on the GOP tax legislation, with Musk opposing the bill and Trump accusing Musk of being motivated by self-interest. After Tesla shares tanked 14% and Musk's personal wealth dropped by $34 billion, Musk signaled a willingness to cool tensions with Trump, responding to a user's advice to "cool off and take a step back for a couple days" with "Good advice."

2) Tensions appear to be easing between the US and China. President Trump and Chinese President Xi Jinping agreed to further trade talks to resolve disputes over tariffs and rare earth minerals. The two leaders had a 90-minute call, during which Trump acknowledged that the trade relationship with China had gotten "a little off track" but said they are now "in very good shape" with a trade deal.

3) Investors brace for a critical May Jobs Report. Traders are awaiting the key monthly nonfarm payrolls report, which may reinforce expectations that the Federal Reserve will cut interest rates at least twice this year.

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Trump Travel Ban; Musk Doubles Down on Tax Bill Attacks

Thu, 05 Jun 2025 09:27:33 +0000

On today's podcast:

1) President Trump signs a travel ban for 12 countries. The president is reinstating one of the most controversial measures from his first term after an attack in Colorado that targeted an event supporting Israeli hostages. The travel ban announced Wednesday covers Afghanistan, Myanmar, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. The measure also partially limits entry of people from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.

2) Elon Musk goes after the president's tax bill after losing out on electric vehicle credits. Musk has taken to social media to urge Americans to contact their lawmakers to "KILL" the legislation, citing its $2.4 trillion price tag and warning that "Bankrupting America is NOT ok!"

3) Democratic candidates for New York City mayor square off in their first debate. Former NY Governor Andrew Cuomo staved off attacks from progressive rivals Zohran Mamdani, Adrienne Adams, and others as the NYC mayoral race heats up.

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Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

Wed, 04 Jun 2025 09:38:11 +0000

On today's podcast:

1) More tensions between the U.S. and China as President Trump says Xi Jinping is extremely hard to make a deal with. Tensions between the two countries are increasing, with the US recently barring the shipping of critical jet engine parts to China and seeking to slap fresh curbs on Huawei Technologies Co. chips, among other measures.

2) Elon Musk blasts the president's tax cut bill, calling it an "abomination." Musk's criticism was met with responses from White House Press Secretary Karoline Leavitt, who brushed it off, and Senator Mike Lee, who appeared to endorse Musk's criticism. The tax bill is forecast to bring down federal revenue by about $4 trillion over a decade, adding about $2.5 trillion to the federal deficit over the period.

3) Wells Fargo finally gets out from under the Fed's cap on its assets. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.

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Trump Presses Senators to Embrace House Tax Bill; OECD Warns on Tariffs

Tue, 03 Jun 2025 09:40:47 +0000

On today's podcast:

1) President Donald Trump worked the phones Monday and took to social media to try to sway Republican holdouts on his multi-trillion dollar tax bill, encountering conflicting demands from GOP senators even as he urged them to move swiftly.

2) Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said.

3) Far-right lawmaker Geert Wilders pulled his Freedom Party out of the Netherlands’ ruling coalition, collapsing the government and likely triggering a snap election.

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Ukraine Strikes Russia Ahead of Talks; Trump-Backed Candidate wins Poland's Election

Mon, 02 Jun 2025 09:43:34 +0000

On today's podcast:
1) Ukraine staged a series of strikes across Russia, deploying drones hidden in trucks to hit strategic airfields, damaging over 40 Russian aircraft and causing losses of at least $2 billion. Russia launched a drone and missile attack against Kyiv, killing at least 12 people, and Ukraine's Ground Forces Commander announced his resignation due to the casualties. The incidents occurred ahead of crucial peace talks in Turkey, where delegations from Moscow and Kyiv will discuss issues including a full and unconditional ceasefire, prisoner release, and the return of abducted children.

2) The FBI is investigating what they call a 'targeted terror attack' in Boulder, Colorado. Eight people were injured in an attack on a Colorado event supporting Israeli hostages in Gaza, with a suspect arrested and identified as 45-year-old Mohamed Sabry Soliman. The attacker used a makeshift flamethrower and incendiary device, yelling "Free Palestine" during the incident, which the FBI is investigating as an act of terrorism.

3) A nationalist candidate backed by President Trump wins Poland's presidential election. Karol Nawrocki won Poland's presidential election with 50.9% of the vote, defeating centrist Rafal Trzaskowski. Nawrocki's victory gives his party, the opposition Law & Justice, a powerful lever to stymie Prime Minister Donald Tusk's agenda and complicates Poland's role in the EU.

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Daybreak Weekend: US Jobs, ECB Decision, Vietnam Eco

Fri, 30 May 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the U.S jobs report.
In the UK – a look ahead to the ECB’s monetary policy decision.
In Asia – a look ahead to economic data in Vietnam.

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President Trump Pushes Powell on Rates; Bessent Says China Talks Stalled

Fri, 30 May 2025 09:44:46 +0000

On today's podcast:

1) A federal appeals court temporarily blocks a ruling that threatens to throw out the bulk of President Trump's tariff agenda. Traders are reassessing their appetite for riskier assets amid concerns over weaker growth and fiscal strain, with the setup being "quite pessimistic" according to an investment officer.

2) President Trump pushes Fed Chair Jay Powell to lower rates at a meeting at the White House. The president told Powell that not lowering rates is putting the US at an economic disadvantage to China and other countries, and Powell stressed that the path of policy will depend on incoming economic information.

3) Treasury Secretary Scott Bessent says trade talks with China have stalled. Bessent believes more talks will happen with Chinese officials "in the next few weeks" and sees the personal involvement of both country leaders as essential.

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Trump's Trade War Upended by Courts; Nvidia Rallies on Upbeat Forecast

Thu, 29 May 2025 09:47:20 +0000

On today's podcast:

1) President Donald Trump’s tariff strategy has been thrown into turmoil after a US court issued a rare rebuke blocking many of the import taxes he has threatened and imposed on other countries.

2) Nvidia Corp. Chief Executive Officer Jensen Huang soothed investor fears about a China slowdown by delivering a solid sales forecast, saying that the AI computing market is still poised for “exponential growth.”

3) China blasted the Trump administration’s move to revoke the visas of Chinese students in the US, underscoring the fragility of a recent steadying of ties between the world’s largest economies.

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Musk 'Disappointed' in Trump Tax Bill; Nvidia Earnings On Tap

Wed, 28 May 2025 09:38:50 +0000

On today's podcast:

1) Elon Musk expressed dissatisfaction with President Donald Trump’s giant tax bill, saying it undercut his efforts to slash government spending.

2) SpaceX’s colossal Starship rocket suffered a leak, tumbled out of control in space and disintegrated as it hurtled back to Earth during a test flight on Tuesday, the third setback in a row for the Elon Musk-led company.

3) Magnificent Seven stocks are mixed, with US stock futures edging lower, ahead of Nvidia’s earnings report slated for the afternoon.

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US-EU Speed Up Trade Talks; Trump's Latest Harvard Threat

Tue, 27 May 2025 09:37:27 +0000

On today's podcast:

1) The European Union said it agreed to accelerate negotiations with the US to avoid a transatlantic trade war, signaling a more amicable approach just days after President Donald Trump criticized the bloc for taking advantage of the US and slow-walking talks.

2) President Donald Trump on Monday threatened to divert billions in grant dollars away from Harvard University and give those funds to trade schools across the US, escalating his clash with the elite institution.

3) HSBC Holdings Plc culled more than two dozen analysts in recent days as Europe’s largest lender deepens a restructuring of its investment banking businesses, according to people familiar with the matter.

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Daybreak Holiday: Markets, Nvidia, Bitcoin

Mon, 26 May 2025 09:08:54 +0000

On this special holiday edition of Bloomberg Daybreak US edition, host Nathan Hager speaks with Bloomberg Opinion columnist Barry Ritholtz on what he's watching in markets for the rest of 2025. Also, Mandeep Singh looks at Nvidia and the Magnificent 7 and Mike McGlone breaks down the ceiling for Bitcoin.

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Daybreak Weekend: Nvidia Preview, Poland Election, BOK Decision

Fri, 23 May 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to GDP and personal spending data, and Nvidia earnings.
In the UK – a look ahead to Poland's Presidential run off election.
In Asia – a look ahead to the upcoming Bank of Korea decision.

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US Debt Concern After Tax Bill's Passage; President Trump's Harvard Fight

Fri, 23 May 2025 10:12:18 +0000

On today's podcast:

1) President Trump's tax cut bill heads to the Senate, but it may have to satisfy bond markets first. Bonds and the dollar rose, with 30-year yields falling after approaching levels last seen in 2007, as investors worried about the US's surging debt load and fiscal concerns.

2) The White House ramps up its fight with Harvard, blocking foreign students from enrolling. The Trump administration has revoked Harvard University's ability to enroll international students, making up about 27% of the student body, citing the university's failure to condemn antisemitism. The move is seen as a direct attack on Harvard's revenue source, tuition, and may prompt the university to seek a temporary restraining order to block the ban.

3) A new survey says U-S businesses will be hardest hit by President Trump's tariffs. US businesses are the most worried about the impact of President Donald Trump’s shifting tariff policies on their revenues, with more than half projecting a hit of at least 25% to their revenue, according to a survey by HSBC Holdings Plc.

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Two Israeli Embassy Staffers Killed in Washington; Republican Tax Bill Vote

Thu, 22 May 2025 09:42:25 +0000

On today's podcast:
1) Two members of the Israeli embassy’s staff were fatally shot outside the Capital Jewish Museum in Washington on Wednesday night, Homeland Security Secretary Kristi Noem said.
2) House Republican leaders released a new version of President Donald Trump’s massive tax and spending bill with a higher limit on the deduction for state and local taxes and other changes in a bid to win over warring GOP factions to support the legislation.
3) JPMorgan Chase & Co. chief Jamie Dimon can’t rule out the US economy will fall into stagflation as the country faces huge risks from geopolitics, deficits and price pressures.

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Oil Rises on Report Israel May Strike Iran; Justice Department Opens Probe of Andrew Cuomo

Wed, 21 May 2025 09:46:38 +0000

On today's podcast:
1) Oil rose after CNN reported that new US intelligence suggested Israel could be gearing up for a possible strike on Iran’s nuclear facilities. The dollar, US stock futures and Treasuries retreated.
2) Andrew Cuomo, who’s running to be mayor of New York City, hit out at the Trump administration following a New York Times report that the Justice Department has opened a criminal investigation over testimony he gave relating to his actions during the Coronavirus pandemic.
3) Elon Musk said he’s committed to still leading Tesla Inc. five years from now and expects to pare back his political spending, assuaging some investors’ concerns about the future of his most valuable company.

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Trump-Putin High Stakes Call Reaction; Trump's Push for Tax Bill

Tue, 20 May 2025 09:34:28 +0000

On today's podcast:

1) Eleven days ago, European leaders took heart when President Donald Trump called for a 30-day ceasefire in Ukraine and threatened new sanctions on Russia. A telephone call with Vladimir Putin on Monday revealed those hopes were misplaced.

2) President Donald Trump plans to go to the Capitol on Tuesday to urge fractious House Republicans to overcome divisions and unite behind his signature tax-cut legislation.

3) Tackling the widening US fiscal deficit is a bigger issue than tariffs, which are likely to fade from view by the time of the midterm elections in Congress next year, according to Carlyle Group Inc. co-founder David Rubenstein.

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NJ Transit Strike Over; Scheffler Wins the PGA Championship

Mon, 19 May 2025 09:42:49 +0000

On today's podcast:

1) New Jersey Transit and its locomotive engineers reached an agreement on a new contract, ending a three-day transit strike that disrupted trains for thousands of riders

2) Scottie Scheffler had every reason to worry the PGA Championship was slipping away. A five-shot lead on the front nine was gone in four holes. Every shot seemed to go left and he didn't know why. Jon Rahm was peeling off birdies and on the verge of tracking him down Sunday at Quail Hollow.

3) Longer-dated Treasury yields rose to the psychological 5% level and S&P 500 Index futures slid with the dollar after a downgrade of the US’s credit score by Moody’s Ratings increased concerns over the nation’s debt.

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Weekend Bonus: Latino Sports Fans

Sun, 18 May 2025 18:50:14 +0000

We've heard of streaming platforms realizing the power of live sports. But what we haven't heard much buzz about is the growing audience who's watching. And they have more than $3.6 trillion dollars in buying power. Bloomberg's Lisa Mateo explains.

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Daybreak Weekend: Home Sales Preview, Qatar Economic Forum, Baidu Earnings

Fri, 16 May 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to a look ahead to home sales data and earnings from Target.
In the UK – a look ahead to the Qatar Economic Forum.
In Asia – a look ahead to earnings from Baidu.

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NJ Transit Strike; President Trump Calls for Putin Meeting

Fri, 16 May 2025 09:55:23 +0000

On today's podcast:
1) NJ Transit locomotive engineers go on strike affecting the commute for hundreds of thousands of commuters. The strike is the result of failed contract negotiations between NJ Transit and the Brotherhood of Locomotive Engineers and Trainmen over a wage increase, with the union seeking the rail workers' first raise since 2019. The shutdown will severely impact service, with engineers responsible for operating the trains, and NJ Transit officials encouraging riders to work remotely and travel on the system for essential purposes only.
2) President Trump to meet with Russian president Vladimir Putin 'soon' as he heads home from the Middle East. The president told reporters Friday he would return directly to Washington at the end of his Middle East visit, despite flirting with a potential in-person meeting with Putin and Ukraine's Volodymyr Zelenskiy with the aim of ending the war in Ukraine.
3) SALT remains a sticking point as Congress debates a tax bill. Republican infighting in the US House is threatening to sink President Trump’s legislative agenda over details of the giant tax bill. Republicans plan to work through the weekend to resolve the issue and other unresolved matters, with plans to bring the bill to the House floor next week.

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Ukraine Peace Deal Hopes Fade; Trump Says U.S. Close to Iran Nuclear Agreement

Thu, 15 May 2025 09:35:50 +0000

On today's podcast:

1) Top US and European diplomats are gathering in Antalya, Turkey on Thursday as the outlook dims for any major breakthrough in expected peace talks between Ukraine and Russia.

2) President Donald Trump said the US might be getting closer to an agreement with Iran to curb the Islamic Republic’s nuclear program.

3) UnitedHealth Group Inc. is under criminal investigation for possible Medicare fraud, the Wall Street Journal reported, citing unidentified people familiar with the matter.

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Trump Seeks Normalization With Syria; US Stocks Now Higher on Year

Wed, 14 May 2025 09:46:10 +0000

On today's podcast:

1) The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions — and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region.

2) The S&P 500 and Nasdaq 100 indexes turned higher for the year on Tuesday, reversing multi-trillion dollar routs, as enthusiasm for US stocks grows with global trade tensions cooling after the Trump administration and China agreed to temporarily lower tariffs.

3) House Republicans could land on a compromise on the state and local tax deduction on Wednesday, a deal that would represent a breakthrough in one of the thorniest policy debates in President Donald Trump’s economic package.

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Global Stocks Recoup Tariff Losses; President Trump Visits Saudi Arabia

Tue, 13 May 2025 09:38:50 +0000

On today's podcast:

1) The Wall Street stocks rally is set to pause due to concerns about inflation and economic growth, with US futures pointing to a decline. Investors are taking a breather after the 90-day tariff cool-off between the US and China, and will be looking for clues on the trajectory of Federal Reserve interest rates in the US inflation print.

2) President Donald Trump is in Saudi Arabia on his first major overseas trip since taking office. He was welcomed on the tarmac by Crown Prince Mohammed bin Salman in a sign of their warm ties. Treasury Secretary Scott Bessent is also in Riyadh where he told an investment forum he’s upbeat on trade talks with nations in Asia and that progress with Europe will be slower.

3) US Treasury Secretary Scott Bessent said the European Union has a "collective action problem" that's hampering trade negotiations with the US. Bessent downplayed the possibility of a quick agreement with the EU, citing differences among member states such as Italy and France.

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Stocks Soar as US-China Tariffs Slashed, President Trump Visits Middle East

Mon, 12 May 2025 09:40:12 +0000

On today's podcast:

1) Stocks soar as the U.S. and China agree to de-escalate their trade war. The US and China will temporarily lower tariffs on each other's products, with the US reducing its levies from 145% to 30% and China reducing its duties from 125% to 10%. The tariff reductions are a move to cool trade tensions and give the two countries three more months to resolve their differences, with talks potentially leading to "purchasing agreements" by China.

2) Drug stocks tumble as President Trump plans to order pharmaceutical price cuts. The declines affected European drugmakers, US drugmakers, and Asian pharmaceutical companies, with some companies experiencing their biggest one-day loss since August. The plan to lower prescription drug prices may have a significant impact on the industry's revenues, particularly for companies that depend heavily on US sales

3) Hamas says it will free its last American hostage as the president heads to the Middle East. It will release 21-year-old Israeli soldier Edan Alexander, a US citizen, as a step toward reaching a new ceasefire agreement in Gaza. The release is a result of renewed talks between the US and Hamas.

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Bloomberg Daybreak Weekend: US CPI, Portugal Election, Japan Eco

Fri, 09 May 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S eco data and earnings from the retail giant, Walmart.
In the UK – a look ahead to Portugal’s general election.
In Asia – a look ahead to Japan industrial production, PPI, and GDP data.

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US Eyes China Tariff Cut; Trump's Plan to Tax Millionaires

Fri, 09 May 2025 09:46:24 +0000

On today's podcast:

1) The Trump administration is weighing a dramatic tariff reduction during weekend talks with China to de-escalate tensions and temper the economic pain both are already starting to feel.

2) President Donald Trump is pushing lawmakers to increase tax rates on some of the wealthiest Americans as a way to offset other cuts in his signature economic package.

3) Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, the first ever pope from the US and a possible bridge between the moderate and hardline sides of a divided Church.

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President Trump Hints at Trade Deal; Why the Fed Left Rates Unchanged

Thu, 08 May 2025 09:42:26 +0000

On today's podcast:

1) President Trump is expected to unveil a limited trade deal with the UK this morning and hints at a new tension point in trade talks with China. The UK deal is likely to focus on reducing tariffs on cars and steel, and may include discussions on tech, AI, and digital trade, but will come with significant caveats and may not be a comprehensive trade pact.

2) Fed Chair Jay Powell says he won't be rushed into lowering interest rates. Powell says he won't lower borrowing costs until there's more certainty on the direction of trade policy, which will have to come from the White House. The Federal Open Market Committee held interest rates steady and said the risks of seeing higher inflation and unemployment had risen due to uncertainty over trade policy and tariffs.

3) The White House plans to get rid of Biden-era chip export restrictions. The repeal would provide fresh opportunities for other countries to negotiate their own chip access, influenced by investment promises or broader trade and diplomatic considerations, while measures targeting China would remain in place.

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US-China Trade Talks; India, Pakistan Trade Military Strikes

Wed, 07 May 2025 09:33:35 +0000

On today's podcast:
1) US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will travel later this week to Switzerland for trade talks with China led by Vice Premier He Lifeng, seeking to de-escalate a tariff standoff that has threatened to hammer both economies.
2) India conducted targeted military strikes against Pakistan, which said it retaliated in expected tit-for-tat blows after a militant attack last month in Kashmir that killed 26 people.
3) Former US President Joe Biden said the Donald Trump administration is appeasing Kremlin leader Vladimir Putin by pressuring Ukraine to give up territory as part of a potential peace deal to end Russia’s invasion.

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Wall Street Elite Warm Up to Tariffs; Trump-Carney Meeting

Tue, 06 May 2025 09:45:54 +0000

On today's podcast:

1) Scott Bessent walked on stage at the largest gathering in months of Wall Street’s champions of global trade, aiming to explain why President Donald Trump is putting up hurdles to global trade.

2) Canadian Prime Minister Mark Carney said he’ll meet with US President Donald Trump in Washington on Tuesday, their first face-to-face encounter since he won an election in part because of an anti-Trump message.

3) Ford Motor Co. suspended its full-year financial guidance and said President Donald Trump’s auto tariffs will take a toll on profit, joining rivals stung by volatile global trade policies.

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President Trump Says Trade Deals Coming; Warren Buffett Picks His Successor

Mon, 05 May 2025 09:45:56 +0000

On today's podcast:
1) President Donald Trump suggested that his administration could strike trade deals with some countries as soon as this week, offering the prospect of relief for trading partners seeking to avoid higher US import duties.
2) Warren Buffett picked the final minute of his 60th shareholder meeting to drop a long-awaited announcement that was still completely surprising for his fans, most of his board and even his successor.
3) Elon Musk called the US government inefficient and said artificial intelligence should be used to replace the functions currently done by some public workers, according to a person who attended the closed-door session at the Milken Institute Global Conference.

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The CEO Radar: Behind the Tariff Headlines (Sponsored Content)

Sun, 04 May 2025 10:00:00 +0000

Financial analysts were far more prepared than most CEOs for the US tariffs announced on April 2. Analysts, who serve as a proxy for the financial markets, anticipated tariffs would soon be an enormous issue, mentioning the topic 62% more often than did CEOs during Q1 earnings calls. That’s the conclusion of the second edition of the CEO Radar—a tool to help CEOs determine which issues truly deserve their time and attention. It unpacks the leading topics discussed on almost 4,900 earnings calls worldwide in Q1 2025, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Michael Brigl, Head of BCG’s Central European practice, to discuss how tariffs are likely to have a long-term effect on corporate operations.

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Daybreak Weekend: Fed Decision, Germany Chancellor, China Eco

Fri, 02 May 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to next week’s Fed decision and earnings from Walt Disney.
In the UK – a look ahead to the challenges facing Germany’s next Chancellor.
In Asia – a look ahead to a look ahead to economic data in China.

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US-China Possible Trade Talks; Apple & Amazon Disappoint

Fri, 02 May 2025 09:36:50 +0000

On today's podcast:

1) China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides.

2) Apple Inc.’s much-awaited quarterly earnings report failed to soothe investor concerns about its biggest challenges, including escalating tariff costs and a slowdown in China.

3) President Donald Trump will request a record $1.01 trillion in national security spending for the fiscal year beginning Oct. 1, more than 13% over the current year’s figure, according to administration officials familiar with the matter.

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Tech Stocks Surge on Microsoft & Meta Earnings; US & Ukraine Sign Deal

Thu, 01 May 2025 09:31:29 +0000

On today's podcast:

1) Microsoft Corp. shares jumped after the company reported stronger-than-expected quarterly sales and profit growth, suggesting customer demand for cloud services has held steady despite a wave of tariffs and economic turbulence.

2) Meta Platforms Inc. quelled Wall Street concerns about the impact of the Trump administration’s trade war on advertising sales, reporting first-quarter revenue that beat expectations and forecasting additional spending.

3) The US and Ukraine reached a deal over access to the country’s natural resources, offering a measure of assurance to officials in Kyiv who had feared that President Donald Trump would pull back his support in peace talks with Russia.

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Trump Bashes Powell and Touts Tariffs; Amazon's Tariff Move

Wed, 30 Apr 2025 09:38:19 +0000

On today's podcast:
1) President Trump marks his first 100 days in Michigan car country and hits the Fed as he defends sweeping tariffs. Trump criticized Federal Reserve Chairman Jerome Powell, saying he's "not really doing a good job" and that Trump knows more about interest rates than Powell does. He also defended his economic policies, including tariffs, which he claims will inspire economic growth and lure manufacturers back to the US.
2) Amazon says it will not display the cost of tariffs on products. Amazon will not display the cost of US tariffs on products after the White House criticized the reported move and President Donald Trump called Jeff Bezos to complain. The company said the idea was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.
3) Microsoft and Meta release earnings after the closing bell. Investors are cautiously optimistic, but the bullish Big Tech proposition is coming under scrutiny, with four of the Magnificent Seven reporting earnings this week.

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Carney Wins Canada's Election; President Trump's First 100 Days

Tue, 29 Apr 2025 09:37:41 +0000

On today's podcast:
1) Canada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war.
2) President Donald Trump is on track to ease the impact of his auto tariffs, with changes sought by the industry that would lift some levies on foreign parts for cars and trucks made inside the US.
3) Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day.

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Trump's Next Steps with China Trade War; Canada Election Day

Mon, 28 Apr 2025 09:30:19 +0000

On today's podcast:

1) President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home.

2) Donald Trump promised Americans a “boom like no other” if they elected him president. But based on the stock market’s performance during his first 100 days in office, it depends on what you mean by “boom.

3) Canada is holding an election on April 28, with the Liberal Party led by Mark Carney and the Conservative Party led by Pierre Poilievre as the top contenders.

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Daybreak Weekend: Tech Earnings, UK Elections, China PMI Preview

Fri, 25 Apr 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to the April jobs report and big tech earnings.
In the UK – a look ahead to local elections.
In Asia – a look ahead to China PMI data.

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China Denies U.S. Trade Talks; Apple's New iPhone Plan

Fri, 25 Apr 2025 09:49:29 +0000

On today's podcast:

1) European stocks surrendered most of an early advance and Wall Street futures pared gains as China played down progress in its trade dispute with the US.

2) Google parent Alphabet Inc. reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.

3) Apple Inc. is seeking to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions.

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China Says U.S. Should Revoke Tariffs; Trump Approval Rating Drops

Thu, 24 Apr 2025 09:41:35 +0000

China Says U.S. Should Revoke Tariffs; Trump Approval Rating DropsOn today's podcast:
1) China demanded that the US revoke all unilateral tariffs and said there were no talks on reaching a trade deal, maintaining a a tough stance despite President Donald Trump’s easing of criticism of the country
2) The Trump administration is considering whether to reduce certain tariffs targeting the auto industry that carmaker executives have warned would deal a severe blow to profits and jobs.
3) The New York Times is reporting President Trump’s approval rating has sunk to about 45 percent, down from 52 percent one week after he took office.

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Trump Changes Tone on Powell & Tariffs; Musk Will Refocus on Tesla

Wed, 23 Apr 2025 09:44:50 +0000

1) President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.
2) President Donald Trump said he plans to be “very nice” to China in any trade talks and that tariffs will drop if the two countries can reach a deal, a sign he may be backing down from his tough stance on Beijing amid market volatility.
3) Elon Musk vowed to pull back “significantly” from his work with the US government and pay more mind to Tesla Inc., assuaging investors concerned about the carmaker’s worst quarter in years.

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Stocks Bounce Back; Harvard Sues Trump Administration

Tue, 22 Apr 2025 09:39:53 +0000

On today's podcast:

1) US stocks are set to bounce back from Monday’s losses as investors nervously weighed up progress on trade talks with India and Tesla’s upcoming earnings. Gold topped $3,500 for the first time.

2) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell.

3) Harvard University sued several US agencies and top officials for freezing billions of dollars in federal funding, significantly ratcheting up a high-stakes showdown with the Trump administration.

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Pope Francis Dies; Hegseth In More Turmoil Over Signal Chat

Mon, 21 Apr 2025 09:56:59 +0000

On today's podcast:

1) Pope Francis, who encouraged Catholics to embrace a more compassionate view on many issues but found it difficult to close the book on past abuses by clergy, has died. He was 88.
Francis passed away at 7:35 a.m. Monday in Rome, the Vatican said in a statement. He had been hospitalized in Rome in mid-February with bronchitis, which progressed to pneumonia in both lungs — the last in a litany of respiratory and other medical challenges he had faced. On Sunday, he had met with US Vice President JD Vance.

2) The New York Times is reporting Defense Secretary Pete Hegseth sent sensitive information about strikes in Yemen to an encrypted group chat that included his wife and brother, people familiar with the matter said.
Defense Secretary Pete Hegseth shared detailed information about forthcoming strikes in Yemen on March 15 in a private Signal group chat that included his wife, brother and personal lawyer, according to four people with knowledge of the chat.
Some of those people said that the information Mr. Hegseth shared on the Signal chat included the flight schedules for the F/A-18 Hornets targeting the Houthis in Yemen — essentially the same attack plans that he shared on a separate Signal chat the same day that mistakenly included the editor of The Atlantic.

3) China warned countries against striking deals with the US that could hurt Beijing’s interests, upping the ante in the trade war with Washington and showing how others risk getting caught in the middle.
While it respects nations resolving their trade disputes with the US, Beijing “resolutely opposes any party reaching a deal at the expense of China’s interests,” the Ministry of Commerce said in a statement Monday.
If that happens, Beijing “will never accept it and will resolutely take reciprocal countermeasures,” the ministry added. “China is willing to strengthen solidarity and coordination with all parties, jointly respond and resist unilateral bullying acts.”

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Daybreak Weekend: Tesla Results, Europe Earnings, China Tariff Reaction

Fri, 18 Apr 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to home sales data and Tesla earnings.
In the UK – a look ahead to how companies across Europe and beyond are preparing to share their latest financial performances with the market.
In Asia – a look ahead to how some Chinese companies are looking to skirt U.S President Donald Trump’s tariffs.

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Daybreak Holiday: Trump versus Powell, ETF Inflows, Antitrust in Focus

Thu, 17 Apr 2025 22:00:00 +0000

On this special holiday edition of Bloomberg Daybreak US edition, host John Tucker discusses President Trump recent criticism of Fed Chair Powell with Michael McKee and Stuart Paul. He also talks about ETF inflows with Eric Balchunas and looks at the future of antitrust litigation with Jennifer Rie.

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Chair Powell's Tariff Concerns; Harvard Pushes Back on Trump

Thu, 17 Apr 2025 09:38:14 +0000

On today's podcast:
1) President Trump's optimism on trade is lifting stocks following yesterday's selloff on Wall Street. Positive signals from initial US-Japan trade talks stirred optimism agreements can be reached to avoid higher levies on American trading partners.
2) Fed Chair Jay Powell says tariffs make a challenging scenario for the Federal Reserve. Powell on Wednesday signaled a wait-and-see approach to tariffs, pushing back on hopes the central bank would act quickly to soothe investor fears. His comments, along with concerns over the impact of tariffs on the tech sector, helped end a two-day consolidation in stocks.
3) Harvard continues to push back against pressure from the White House. Harvard University's refusal to comply with a Trump administration deal to require it to reform its governance and end diversity programs is resulting in retribution. The administration's freezing funding of 2.2 billion dollars of multiyear grants, accusing Harvard of mishandling antisemitism on campus. President Trump says the school should lose its tax-exempt status and several outlets reported that the IRS is considering the issue

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Nvidia Slides on Chip Curbs; China Open to US Dialogue

Wed, 16 Apr 2025 09:49:47 +0000

On today's podcast:
1) Nvidia slides after it warns Trump's curbs on China chips will cost it billions. The US government has restricted Nvidia from selling its H20 chip in China, escalating the tech battle between Washington and Beijing. Restrictions and trade war concerns are expected to negatively impact chip-sector earnings and China's ambitions to compete on the global tech stage.
2) China says it is open to trade talks if President Trump's Administration shows more respect. China wants the US to show more respect by reining in disparaging remarks by members of Trump's cabinet before agreeing to trade talks. Beijing also wants a more consistent US position and a willingness to address China's concerns around American sanctions and Taiwan.
3) Investors await a key speech by Fed Chair Jay Powell. Powell is making a speech in Chicago as traders look for hints on how the Fed will manage rates as President Trump aims to implement his tariff policy, and they're also following retail sales data today.

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Boeing Becomes a Trade War Casualty; Harvard Rejects Trump's Terms

Tue, 15 Apr 2025 09:59:05 +0000

On today's podcast:
1) China orders a halt to Boeing jet deliveries in another salvo of the US-China trade war. China ordered its airlines to stop taking deliveries of Boeing jets and to halt purchases of aircraft-related equipment and parts from US companies. The standoff is a setback for Boeing, which relies heavily on the Chinese market, and could impact the company's sales and supply chains.
2) US Treasury Secretary Scott Bessent downplays the recent bond market selloff in an exclusive discussion with Bloomberg. He says the Treasury has a lot of tools it could use should it need to step in, but says there's no signs it needs to right now.
3) Harvard fights back against President Trump's $9 billion funding fight. University President Alan Garber rejected the Trump administration's demands to combat antisemitism, citing threats to academic freedom and interference in higher education. In response, a government task force plans to freeze $2.2 billion of multiyear grants to Harvard, which could impact the university's research, medicine, and public health programs.

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Trump's Temporary Tariff Reprieve; Blue Origin Launch

Mon, 14 Apr 2025 09:37:37 +0000

On today's podcast:
1) President Trump warns his pause on import duties on phones, computers and popular consumer electronics are just temporary. The president has exempted certain electronics from tariffs, but says it's a temporary measure and that a different tariff will be applied to the sector soon. Trump plans to announce a tariff rate for semiconductors in the coming week and is open to discussing the scope of the tariff with companies.
2) Bank Earnings continue with Goldman Sachs reporting this morning. Despite the strong trading revenue, investors are concerned about the impact of tariffs and recession fears on all of the big banks' performance, and executives are expected to continue to strike a cautious tone.
3) Jeff Bezos' Blue Origin is launching an all-women crew on its New Shepard rocket, including Katy Perry, Bezos' fiancée Lauren Sánchez, and other notable women, on a roughly 11-minute trip to the edge of space. This launch is Blue Origin's 11th human spaceflight, following recent successes and challenges, including a workforce

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Daybreak Weekend: U.S Retail, ECB Meeting, TSMC Earnings

Fri, 11 Apr 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S Retail sales and earnings from Netflix.
In the UK – a look ahead to next week’s ECB meeting.
In Asia – a look ahead to earnings from TSMC.

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China Slaps Further Tariffs on US; Deadly NYC Helicopter Crash

Fri, 11 Apr 2025 09:39:53 +0000

On today's podcast:
1) China will raise tariffs on all US goods from 84% to 125% starting April 12 and will ignore any further US tariff increases. It comes as President Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation. Areas of US-China trade that could be next in line for Chinese retaliation include education, travel, financial services, computing services, and films and entertainment.
2) Billionaire Ray Dalio tells Bloomberg the tariff turmoil has damaged the US reputation for reliability, but that's not one of his primary concerns about the US economy and outlook for a recession. While the Bridgewater founder considers a US recession likely, geopolitical tensions and potential for diplomatic breakdowns are a global threat in Dalio's eyes.
3) New York City officials investigate a deadly helicopter crash in the Hudson River. The sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot. The crash is the latest in a string of incidents that has rattled confidence in US aviation safety, following a deadly midair collision last year and other helicopter crashes around New York City.

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President Trump's Tariff Pivot; Global Markets React

Thu, 10 Apr 2025 09:54:47 +0000

On today's podcast:
1) President Donald Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation.

2) European stocks opened sharply higher, tracking Wall Street’s late-Wednesday rally, after President Donald Trump paused most of his sweeping tariff hikes. US equity futures fell, however, suggesting the euphoria is already dissipating.

3) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the world into disarray, he backpedaled and, in the process, pulled the financial system back from the brink.

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Trump Tariffs Take Effect; Vicious Treasury Sell-Off

Wed, 09 Apr 2025 09:57:04 +0000

On today's podcast:
1) President Donald Trump’s so-called reciprocal tariffs are now in place, dealing a thunderous blow to the world economy as he pushes forward efforts to drastically reorder global trade.

2) China hasn’t immediately responded to the new US tariffs, a departure from the last two episodes when President Donald Trump hiked duties and Beijing hit back within minutes.

3) A vicious sell-off in what are supposed to be the world’s safest assets has investors grasping for reasons behind the steep declines in Treasuries which accelerated Wednesday.

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Stocks Rebound as Traders Await Tariff Clarity; China Vows to Retaliate

Tue, 08 Apr 2025 09:47:44 +0000

On today's podcast:

1) Stocks staged a modest recovery as investors looked for dip-buying opportunities while awaiting clarity on how President Donald Trump’s trade policies will play out.

2) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies.

3) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration.

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Global Market Meltdown Deepens; Trump Retains Tariff Stance

Mon, 07 Apr 2025 09:45:52 +0000

On today's podcast:

1) The carnage in financial markets unleashed by President Donald Trump’s tariffs is continuing unabated as equities get pummeled and US stock futures show that last week’s $5 trillion wipeout isn’t over.

2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon.

3) Traders expect the Federal Reserve to slash interest rates another five times this year as the US administration’s trade tariffs ignite fears of a global recession.

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Daybreak Weekend: Eco Lookahead, BOE Report, Tariff Impact

Fri, 04 Apr 2025 20:34:46 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – an eco look ahead post Trump-tariffs, and also a discussion on how the retail sector may be impacted.
In the UK – a look at the BOE’s quarterly report on the stability of the UK's financial system.
In Asia – a look at President Trump’s additional 34% tariff on Chinese goods and how that may impact U.S, China relations. Also, a look at how tariffs will impact U.S, Australia relations.

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Trump Open to Tariff Negotiation; Investors Await Labor Data and Powell

Fri, 04 Apr 2025 09:57:27 +0000

On today's podcast:

1) President Trump says he's open to tariff cuts in return for phenomenal offers. President Trump indicated that more tariffs are on the way, specifically mentioning pharmaceuticals, and reiterated his willingness to offer tariff relief for China if Beijing approves the sale of TikTok's US operations.

2) Investors await a jobs report and a speech on the economy by Fed Chair Jay Powell. US hiring likely remained healthy last month with the unemployment rate holding steady at a historically low level of 4.1%.

3) Republicans consider a higher rate for millionaires in their sweeping tax cut bill. Senate Republicans unveiled a budget blueprint that would fast-track a renewal of President Donald Trump's tax cuts and an increase to the nation's borrowing limit.

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Instant Reaction: Trump Tariffs Trigger Stock Market Meltdown

Thu, 03 Apr 2025 21:04:02 +0000

The “America First” trade is unraveling in the sweeping turmoil in global markets, with stocks acutely exposed to the US economy sinking alongside the dollar. As Wall Street’s rebellion against Donald Trump’s tariff war intensifies, traders are rushing into fixed-income havens.

About $2 trillion was erased from the S&P 500, with the gauge down about 5%. The Russell 2000 of smaller firms extended its plunge from a 2021 all-time high to 20% on speculation the president’s trade offensive will stunt the American economy. The greenback slid 1.5%, reigniting the debate about its haven reputation during challenging times as the euro, yen and Swiss franc surged. Oil joined a selloff in commodities.

All in, the much-vaunted America-first trade — buying up assets that win when the US outperforms the rest of the world — is reversing on concern that the steepest increase in American tariffs in a century will hammer economic growth.

That’s driving a fierce rally in global bonds, sending the yield on benchmark Treasuries briefly below the closely-watched 4% level. Most other yields also tumbled as money markets priced in a 50% chance of the Federal Reserve delivering four quarter-point rate reductions this year.

Trump has embraced tariffs as a tool to assert US power, revive manufacturing at home and extract geopolitical concessions. Economists say the near-term result of his measures will likely be higher US prices and slower growth, or perhaps even a recession.

Listen for comprehensive coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Carol Massar and Tim Stenovec.

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Trump's Tariffs: Everything You Need to Know

Thu, 03 Apr 2025 09:50:13 +0000

On today's podcast:

1) President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.

2) Donald Trump’s shake-up of the global trading system is hurting US assets more than those in many of the big economies he has just slapped with additional tariffs.

3) Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.

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Wisconsin and Florida Election Results; Trump's Tariff Announcement

Wed, 02 Apr 2025 09:40:14 +0000

On today's podcast:

1) Voters in Wisconsin push back on Elon Musk and Republicans in Florida fend off Democrats. Elon Musk-backed candidate, Brad Schimel, lost a Wisconsin judicial race despite Musk pouring millions into the campaign, with Susan Crawford winning 55% to 45%. Republicans held onto two House seats in Florida, winning about 57% of the vote in both districts, but with smaller margins than in the November general election.

2) The world waits as President Trump's tariff announcement comes down to the wire. President Trump's team is finalizing plans for reciprocal tariffs to be unveiled on Wednesday, with multiple proposals under consideration, including a tiered tariff system and a customized reciprocal plan. The tariffs are expected to take immediate effect, with countries able to negotiate to bring rates down, and could apply widely, even to countries with which the US doesn't have a trade imbalance.

3) The SALT tax deduction could get a boost in Republicans' massive tax bill. Republicans are drafting a tax bill that includes increasing the state and local tax deduction to up to $25,000 for an individual, a major victory for swing-district House Republicans.

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Trump Tariff Global Reaction; Trump Backs Away from Criticizing Putin

Tue, 01 Apr 2025 09:37:19 +0000

On today's podcast:

1) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said.

2) President Donald Trump initially criticized Russian President Vladimir Putin, but then shifted his criticism to Ukrainian President Volodymyr Zelenskiy, accusing Ukraine of trying to renegotiate an economic deal with the US.

3) In a quarter marred by tariff uncertainty, US government spending cuts and the threat of recession, it is fears about a bubble brewing in artificial intelligence that have dealt the latest blow to the Nasdaq 100.

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The Stock Movers Podcast from Bloomberg

Mon, 31 Mar 2025 14:08:05 +0000

Check out the new Stock Movers Podcast from Bloomberg. Subscribe for five-minute episodes on today's winners and losers in the stock market.
Listen on Apple: https://apple.co/4kJ43ON
Listen on Spotify: https://tinyurl.com/mr385jv6
Listen on other platforms: https://link.podtrac.com/h0zn7xir

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Trump Tariffs On 'All Countries'; DOGE Sinking Musk's Wealth

Mon, 31 Mar 2025 09:37:27 +0000

On today's podcast:

1) President Trump says he plans to start his reciprocal tariff push with all countries. Trump's tariffs are set to be unveiled on April 2 and will aim to rebalance global trade and boost US manufacturing. The Trump administration has not yet outlined what tariffs are coming, how they'll be calculated, or what countries will need to do to secure exemptions.

2) The president threatens Russian oil penalties if Vladimir Putin refuses a ceasefire with Ukraine. Trump said he was "very angry" at Vladimir Putin and threatened "secondary tariffs" on buyers of Russian oil if Putin refuses a ceasefire with Ukraine. Trump also threatened to punish Tehran with unspecified "secondary tariffs" and raised the threat of bombing Iran until it signs a deal that renounces nuclear weapons.

3) Elon Musk says his role at DOGE is costing him a lot in terms of his job as CEO of Tesla. Musk's political activities have led to a 45% drop in Tesla shares since their peak last year, causing his personal wealth to decline by over $100 billion this year.

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Daybreak Weekend: US Jobs Preview, NATO, RBA's Rate Decision

Fri, 28 Mar 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
• In the US – a preview of US March jobs and a look at the potential impact of auto tariffs.
• In the UK – an assessment of NATO's position amid growing global tensions.
• In Asia – a preview of the Reserve Bank of Australia's next rate decision.

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US Seeks to Control Ukraine Investment; Hegseth Faces Signal Breach Questions

Fri, 28 Mar 2025 09:41:17 +0000

On today's podcast:

1) The US looks to control nearly all investment in Ukraine as President Trump pushes for ceasefire with Russia. the US is pushing for a deal that would give it control over major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv's other allies.

2) Defense Secretary Pete Hegseth faces Signal questions on his first trip to Asia. President Donald Trump dismissed the disclosure of Houthi attack plans in a Signal chat as a “glitch” with no impact on national security. However, intelligence experts argue that the disclosure gave foreign adversaries priceless insight into US spycraft.

3) Elon Musk says he can slash a trillion dollars from the Federal budget before this summer. Musk believes his Department of Government Efficiency can find that level of cost savings within 130 days from the start of Trump's term.

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Trump Unveils 25% Auto Tariff; White House Tries to Contain Signal Text Backlash

Thu, 27 Mar 2025 09:40:24 +0000

On today's podcast:

1) President Donald Trump signed a proclamation to implement a 25% tariff on auto imports and floated further duties on the EU and Canada, expanding a trade war and triggering threats of retaliation.

2) Donald Trump’s planned tariffs on auto imports will hurt carmakers around the world and push up prices for US consumers. Among the many losers, one winner stands out: Elon Musk’s Tesla Inc.

3) President Donald Trump and top allies struggled to fend off criticism over the inadvertent inclusion of a journalist in a Signal chat discussing military attacks in Yemen, after newly disclosed texts showed how Defense Secretary Pete Hegseth revealed specific operational details.

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Trump May Implement Copper Tariffs Soon; Wall Street Bonuses Soar On today's podcast:

Wed, 26 Mar 2025 09:42:15 +0000

On today's podcast:

1) US tariffs on copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter. Copper traded in New York rose to a record.

2) President Donald Trump said his administration was investigating the addition of a journalist to a text group of top officials discussing plans for military strikes in Yemen, but expressed support for national security adviser Michael Waltz.

3) Average Wall Street bonuses surged last year, with the total pool for payouts jumping to a record $47.5 billion as industry profits soared.

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White House Text Breach Fallout, New Tariffs Teased On today's podcast:

Tue, 25 Mar 2025 09:35:49 +0000

On today's podcast:

1) The Atlantic’s top editor said he was added to a text group in which top US officials discussed detailed plans to bomb Houthi targets in Yemen with other top US officials, an extraordinary breach of security from an administration that has repeatedly vowed to clamp down on leaks.

2) President Donald Trump said he will announce tariffs on automobile imports in the coming days — and indicated nations will receive breaks from next week’s “reciprocal” tariff

3) Federal Reserve Bank of Atlanta President Raphael Bostic said he now sees just one interest-rate cut as likely this year, rather than two, with tariff hikes impeding progress on disinflation.

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Introducing 'Bloomberg Daybreak: US Edition'

Mon, 24 Mar 2025 19:00:00 +0000

Bloomberg Daybreak delivers today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

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Targeted Trump Tariffs; US Discussions on Ukraine-Russia

Mon, 24 Mar 2025 09:39:14 +0000

On today's podcast:

1) Markets get a lift on word President Trump's tariffs will be more targeted. President Trump is preparing to announce "reciprocal tariffs" on April 2, targeting countries that have tariffs or barriers on US goods, but excluding some nations and blocs.

2) Separate ceasefire talks continue between the U-S, Ukraine and Russia. The White House aims to reach a truce agreement in the Russia-Ukraine war by April 20, but recognizes that the timeline may slip due to large gaps between the two sides' positions.

3) Mark Carney takes aim at Trump as he launches his election campaign in Canada. Canadian Prime Minister Mark Carney has called an election for April 28, with polls showing a close contest between his Liberal Party and the Conservatives.

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Daybreak Weekend: CPI Preview, Reeves Statement, BYD Earnings

Fri, 21 Mar 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI and PCE data, along with a look at the impact of tariffs on housing.
In the UK – a preview of UK Chancellor Rachel Reeves’ spring statement.
In Asia – a preview of Chinese EV Maker BYD’s earnings.

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Heathrow Airport Shuttered; Musk and China War Plans

Fri, 21 Mar 2025 09:44:45 +0000

1) London's Heathrow airport will be closed all day Friday due to a major power outage caused by a nearby fire at an electrical substation. The airport advises passengers not to travel to the airport, and disruptions are expected to continue over the coming days, with hundreds of flights already canceled.

2) President Trump denied a report that Elon Musk would be briefed on the American military's contingency planning for a potential war with China. Defense Secretary Pete Hegseth confirmed that Musk would visit the Pentagon, but characterized the meeting as an informal discussion about innovation, efficiencies, and smarter production.

3) President Trump signed an executive order to largely dismantle the Education Department, directing Education Secretary Linda McMahon to "take all necessary steps to facilitate the closure" of the department. The move is part of Trump's vision to overhaul the US government, with the goal of transferring the department's functions to states and reducing its workforce of over 4,000 employees by nearly half.

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Powell Sees Tariff Impact as Transitory, Trump Says Fed Should Cut Rates On today's podcast:

Thu, 20 Mar 2025 09:39:16 +0000

On today's podcast:

1) Federal Reserve Chair Jerome Powell downplayed growth concerns and the impact of President Donald Trump's trade war on inflation, calling the inflationary effect of tariffs "transitory".

2) President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push.

3) Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago.

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Instant Reaction: Jay Powell on the Fed Decision

Wed, 19 Mar 2025 20:30:00 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials held their benchmark interest rate steady for a second straight meeting, caught between mounting concerns that the economy is slowing and inflation could remain stubbornly high.
Chair Jerome Powell acknowledged the high degree of uncertainty from President Donald Trump’s significant policy changes, but repeated the central bank is not in a hurry to adjust borrowing costs. He said officials can wait for greater clarity on the impact of those policies on the economy before acting.

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Putin Rejects Ceasefire, Political Turmoil Roils Turkish Markets

Wed, 19 Mar 2025 09:34:19 +0000

On today's podcast:

1) President Vladimir Putin refused to give Donald Trump the 30-day ceasefire in Ukraine he and his team had demanded on the path toward ending the three-year conflict. It was still good enough for the US president.

2) Turkish authorities detained Ekrem Imamoglu, President Recep Tayyip Erdogan’s most prominent rival, in a widening crackdown on opposition that triggered a selloff in Turkish markets.

3) Morgan Stanley is planning to cut about 2,000 employees later this month in the first major workforce reduction under Chief Executive Officer Ted Pick.

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World Waits for Trump-Putin Talks; Israel Ends Gaza Truce

Tue, 18 Mar 2025 09:41:53 +0000

On today's podcast:

1) President Donald Trump said the US and Russia are already talking about dividing “assets” as part of a push to end the fighting in Ukraine, the latest sign that he may be preparing to sacrifice Kyiv’s interests when he speaks with Vladimir Putin on Tuesday.

2) Israel launched a series of airstrikes overnight across Gaza, shattering a nearly two-month ceasefire with Hamas.Prime Minister Benjamin Netanyahu vowed to act “with increasing military strength” and said the Palestinian militant group had repeatedly refused to release the hostages it’s holding.

3) Two NASA astronauts stuck in orbit for nine months finally departed the International Space Station aboard a SpaceX capsule on Tuesday, kicking off their long-awaited voyage home.

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Trump, Putin Talk Ukraine; Treasury Secretary Calls Stock Slump 'Healthy'

Mon, 17 Mar 2025 09:42:24 +0000

On today's podcast:

1) President Donald Trump said he’ll speak with Russian President Vladimir Putin on Tuesday as the US presses for an end to fighting in Ukraine and European nations rush to bolster their support for Kyiv.
“We are doing pretty well I think with Russia,” Trump told reporters aboard Air Force One on Sunday. “We’ll see if we have something to announce maybe by Tuesday,” he said, adding that there is “a very good chance” for a deal.
The Trump administration has pushed for a ceasefire between Russia and Ukraine amid a flurry of renewed engagement between Washington and Moscow, three years after Russia’s full-scale invasion. Yet that effort has sparked angst among European leaders who worry Trump may concede too much on Ukraine’s behalf in a direct exchange with Putin and leave Kyiv without any longer-term security guarantees.

2) Treasury Secretary Scott Bessent, a former hedge fund manager, said he’s not worried about the recent downturn that’s wiped trillions of dollars from the equities market as the US seeks to reshape its economic policies.
“I’ve been in the investment business for 35 years, and I can tell you that corrections are healthy, they are normal,” Bessent said Sunday on NBC’s Meet The Press. “I‘m not worried about the markets. Over the long term, if we put good tax policy in place, deregulation and energy security, the markets will do great.”

3) The Trump administration said it arrested and expelled hundreds of alleged members of Venezuela’s Tren de Aragua gang to El Salvador for imprisonment, even as a federal judge ordered a halt to some deportations.
“This weekend, at the President’s direction, the Department of Homeland Security successfully arrested nearly 300 Tren De Aragua terrorists, saving countless American lives,” White House Press Secretary Karoline Leavitt said Sunday in a statement. “These heinous monsters were extracted and removed to El Salvador where they will no longer be able to pose any threat to the American People.”
The US is paying El Salvador to hold the Venezuelans under an agreement Secretary of State Marco Rubio brokered with the Central American country’s president, Nayib Bukele. Some 238 members of the gang were transferred to a terrorism confinement center, Bukele said on X.

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Daybreak Weekend: Fed Preview, MS Conference, Tencent Earnings

Fri, 14 Mar 2025 21:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s Fed decision and earnings from FedEx.
In the UK – a preview of Morgan Stanley’s European Financials Conference.
In Asia – a preview of Tencent earnings and the next BOJ decision.

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Equity Optimism on Shutdown Talks; US Tightens Russia Sanctions

Fri, 14 Mar 2025 09:45:12 +0000

On today's podcast:

1) Part of the equity optimism comes on signs the US will avert a government shutdown. Senate Democratic leader Chuck Schumer opted not to block the Republican bill, avoiding a government shutdown.

2) The US quietly tightens sanctions on Russia as it seeks a ceasefire deal. The Trump administration let a license covering payments for energy to a handful of Russian banks expire, making it difficult for foreign oil refineries, traders, and buyers of Russian gas to pay Russia in dollars or other Western currencies.

3) President Trump's trade war continues to impact global markets. Companies worldwide are planning for the worst as President Trump's tariffs create uncertainty, with some setting up "tariff task forces" to mitigate the impact on sales, profits, and market shares.

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Stocks Fall on Global Trade War Fears; Democrats to Block GOP Plan to Avert Shutdown

Thu, 13 Mar 2025 09:31:20 +0000

On today's podcast:

1) President Donald Trump said the US would respond to the European Union’s countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war.

2) Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown on Saturday and urged the GOP to accept a Democratic plan to provide funding through April 11 instead.

3) The worst of the US equity correction may be over, with credit markets indicating a lower risk of recession, according to JPMorgan Chase & Co.

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EU Retaliates as Trump Trade War Heats Up; Ukraine Ceasefire Proposal Puts Onus on Putin

Wed, 12 Mar 2025 09:34:35 +0000

On today's podcast:

1) The European Union launched countermeasures on Wednesday against new US metals tariffs, with plans to impose its own duties on €26 billion ($28.3 billion) worth of American goods.

2) Less than two weeks after Donald Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers.

3) House Republicans passed legislation to keep the US government open past a Saturday shutdown deadline, daring moderate Democrats in the Senate to block the measure over objections it fails to constrain Elon Musk’s cost-cutting crusade.

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Special Report: Global Market Selloff Easing with Mike Wilson and Mohamed El-Erian

Tue, 11 Mar 2025 10:50:30 +0000

Bloomberg's Nathan Hager breaks down the recent market volatility with Morgan Stanley's Mike Wilson and Bloomberg Opinion contributor Mohamed El-Erian.

Global stocks steadied from a selloff and US stock futures signaled a Wall Street bounce, as Bloomberg News reported President Donald Trump will meet with top business executives later in the day. Contracts for the Nasdaq 100 rose 0.5% after the index’s deepest slump since 2022, while those on the S&P 500 climbed 0.4%. Tesla Inc. shares rose in premarket trading after Monday’s 15% slide while other tech names including Nvidia Corp. also edged higher. In Europe, the Stoxx 600 index was steady while earlier, Asian shares bounced off an intraday five-week low.There was relief for other risk assets too, as Bitcoin stabilized after a five-day selloff and oil prices notched a small bounce from Monday’s drop. However, concerns over the once unstoppable resilience of the US economy continue to support Treasury markets, with 10-year yields edging lower again on Tuesday. The dollar index slid 0.3%.

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Bearish Sentiment Weighs on Stocks; Ukraine Launches Drone Attack on Russia

Tue, 11 Mar 2025 09:36:54 +0000

On today's podcast:

1) The stock selloff moderates around the world as the world's richest lose more than $200 billion since President Trump's Inauguration. It comes as Wall Street strategists like Citi downgrade views on US equities. Investors remain cautious due to concerns about the American economy, tariffs, and government spending cuts.

2) Ukraine launches its biggest attack yet against Russia ahead of talks with the US. Ukraine launched a record number of drone attacks on Russia, with air defenses downing 337 drones including dozens that targeted Moscow. Top US and Ukrainian officials are set to meet in Saudi Arabia to explore the potential for reaching a ceasefire, with the US seeking a clear commitment from Ukraine to a diplomatic resolution.

3) House conservatives get behind a stopgap to avert a government shutdown. The House Freedom Caucus has backed a stopgap funding package, which would reduce and then freeze spending for six months, to help Speaker Mike Johnson pass the bill without Democratic support. The bill's fate is uncertain, with some Republicans, including Representative Thomas Massie, opposed to the measure, and Democrats' support still needed to clear the Senate.

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Trump Avoids Recession Call, Says Economy In ‘Transition', Mark Carney Wins in Canada

Mon, 10 Mar 2025 09:32:30 +0000

On today's podcast:

1) President Donald Trump said the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes market turmoil.

2) Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as US President Donald Trump’s administration threatens its economic future

3) President Donald Trump said Sunday he was negotiating with four different possible buyers for TikTok’s US business and that a deal for the social video app could come “soon.”

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Daybreak Weekend: US Inflation, Lagarde Address, China Eco Outlook

Fri, 07 Mar 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI and PPI data, along with earnings from Oracle and Adobe.
In the UK – a preview of European Central Bank Chief Christine Lagarde addressing central bankers.
In Asia – a recap of China’s NPC and outlook for its’ economy.

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Trump Delays Canada, Mexico Tariffs; China Blasts Trump, Calls US Tariffs ‘Evil’

Fri, 07 Mar 2025 10:48:04 +0000

On today's podcast:

1) President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US’s two largest trading partners.

2) China’s top diplomat accused Donald Trump of taking a hypocritical approach to bilateral ties and denounced tariffs, as tensions rise between the world’s largest economies.

3) Broadcom Inc. shares were on track for their biggest gain in 12 weeks in early trading after the chip supplier for Apple Inc. and other big tech companies gave an upbeat forecast, reassuring investors that spending on artificial intelligence computing remains healthy.

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Trump Delays Tariffs on Autos; Germany Sends Bonds Spiraling

Thu, 06 Mar 2025 10:37:08 +0000

On today's podcast:

1) President Trump hits reverse on auto tariffs for Canada and Mexico for now. The Trump administration is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, following pleas from industry leaders. The exemption applies to auto parts that comply with the USMCA trade pact. It comes as the president's set to meet with US tech leaders Thursday, whose companies also face the possibility of import tariffs and stricter export rules.

2) European leaders gather for an emergency summit on military defense. European leaders meet in Brussels for emergency talks on Ukraine and defense spending. They are discussing an EU proposal to unlock as much as €800 billion of funds across the bloc. Germany will seek a constitutional amendment to exempt defense from its budget limit.

3) A global bond selloff continues following Germany's historic spending plans. A global bond selloff continued due to Germany's spending plans, which are expected to reshape growth outlook on the continent. Investors are reacting to Germany's move to unlock hundreds of billions of euros for defense and infrastructure investments, which is expected to boost its economy and spill over to neighboring countries.

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Trump Talks Tariffs & Chips in Congressional Address; Disney Job Cuts

Wed, 05 Mar 2025 10:53:33 +0000

On today's podcast:

1) President Trump promises golden age but warns tariffs could cause disturbance, President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain. The president touted his tariff moves as effective in bringing jobs to the US, threatened to impose new tariffs, and announced plans for domestic energy production and an office of shipbuilding at the White House.

2) Trump calls for a repeal of the Chips Act. The president touted his tariff moves as more effective at bringing jobs to the US than Biden’s efforts, which included the Chips and Science Act and its billions in subsidies to spur domestic semiconductor manufacturing. Trump urged lawmakers to eliminate the Chips Act and said he would not give chipmakers any more funds from the law.

3) Job cuts are on the way at Disney. The Walt Disney Company is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo. The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo.

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Instant Reaction: Trump Delivers Joint Address To Congress

Wed, 05 Mar 2025 04:57:45 +0000

President Donald Trump acknowledged there may be an “adjustment period” as his tariffs take effect, but defended his push to remake the US economy and declared “momentum is back” in a primetime speech to Congress on Tuesday night.

“Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly,” Trump said in the longest-ever presidential address to a joint session. “There’ll be a little disturbance, but we’re okay with that. It won’t be much.”

Trump’s address comes at a pivotal moment. Data shows new strains on the economy as factory activity stagnates, inflation simmers, consumer confidence ebbs, and stocks lag behind equity markets in other countries.

Stocks swung wildly Tuesday following Trump’s most recent tariff actions against the US’s largest trading partners, with the S&P 500 Index closing at its lowest level since before the president’s election last year. Commerce Secretary Howard Lutnick hinted the administration might announce a pathway for tariff relief for goods from Mexico and Canada — two of the countries hit — that are covered by a free trade agreement as soon as tomorrow.

For instant reaction and analysis to President Donald Trump's joint address to Congress, plus Michigan Democratic Senator Elissa Slotkin's speech in response, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz along with Bloomberg Surveillance cohost Annmarie Hordern speak with:

- Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino
- US Secretary of Energy Chris Wright
- US Secretary of Housing and Urban Development Scott Turner
- Senator Adam Schiff of California

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Putin Agrees to Help Trump Broker Nuclear Talks With Iran: Bloomberg Exclusive

Tue, 04 Mar 2025 15:06:23 +0000

Russia agreed to assist President Donald Trump’s administration in communicating with Iran on issues including the Islamic Republic’s nuclear program and its support for regional anti-US proxies, according to people familiar with the situation.
Trump relayed that interest directly to President Vladimir Putin in a phone call in February and top officials from his administration discussed the matter with their Russian counterparts at talks in Saudi Arabia days later, people familiar with the matter in Moscow said, declining to be identified because of the sensitivity of the issue.
White House officials did not immediately respond to a request for comment. Neither Russia nor Iran have publicly confirmed or denied the request.
Kremlin spokesman Dmitry Peskov said in response to questions sent by Bloomberg that “Russia believes that the United States and Iran should resolve all problems through negotiations” and that Moscow “is ready to do everything in its power to achieve this.”
A spokesman for Iran’s foreign ministry, when asked if Russia had offered to mediate between Tehran and Washington, said only it was “natural” for countries to offer their assistance.
“Given the significance of these matters, it’s possible that many parties will show good will and readiness to help with various problems,” the spokesman, Esmaeil Baghaei, said during a televised press conference Monday in Tehran. “From this perspective, it’s natural that countries will present an offer of help if it’s needed.” The ministry didn’t respond to questions from Bloomberg News.
Since taking office about six weeks ago, Trump has tried to restore relations with President Vladimir Putin, which the US severed after Russia’s 2022 full-scale invasion of Ukraine. As Trump seeks to broker an end to that war directly with Putin — including a Feb. 12 phone call between the two leaders — both sides have signaled they’re open to cooperating on other geopolitical interests, including trade routes and resources in the Arctic.
Top US and Russian officials, including Secretary of State Marco Rubio and Foreign Minister Sergei Lavrov, discussed Washington’s interest in Moscow helping with Iranian issues, during a Feb. 18 meeting in Riyadh, according to people with knowledge of the situation, asking not to be identified as not all details of those talks have been made public.
Russia’s Lavrov later shared details about the US meeting with his Iranian counterpart Abbas Araghchi when they met in Tehran, Araghchi said in a televised press conference after the meeting.

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Trump Escalates Global Trade War, Pauses Military Aid to Ukraine

Tue, 04 Mar 2025 10:41:42 +0000

On today's podcast:

1) Trump Escalates Global Trade War, Sparking Tit-for-Tat Tariffs. President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies and doubled an existing charge on China, spurring swift reprisals that plunged the world economy into a deepening trade war. The US new tariffs — 25% duties on most Canadian and Mexican imports and raising the charge on China to 20% — impact roughly $1.5 trillion in annual imports, an expansive move signaling to markets that the Republican president is committed to wielding import duties to obtain fresh revenue and create domestic manufacturing jobs.

2) What Trump Aims to Achieve With His Tariffs. After promising during his election campaign to put import taxes back at the center of US economic policy, President Donald Trump moved swiftly once back in office, announcing significant new tariffs aimed at America’s trading partners. The tactics — implementing new tariffs and threatening others in an effort to intimidate or gain leverage on other disputes — represent a dramatic shift in a global economy where most major economies have sought to reduce trade barriers.

3) Trump Pauses Military Aid to Ukraine After Clash With Zelenskiy President Donald Trump ordered a pause to all US military aid to Ukraine, turning up the heat on Volodymyr Zelenskiy days after an Oval Office blowup with the Ukrainian president left support from his country’s most important ally in doubt. The US is holding up all pending military assistance until Trump determines Ukraine’s leaders demonstrate a good-faith commitment to peace, according to a senior Defense Department official, who asked not to be identified discussing private deliberations. The administration will also review the aid to make sure it’s contributing to a solution to the conflict, a White House official said.

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US Support for Ukraine Stalls; Trump Readies for Tariffs on Allies

Mon, 03 Mar 2025 10:38:45 +0000

On today's podcast:

1) Europe races to support Ukraine after last week's Oval Office blowup. European leaders, including UK Prime Minister Keir Starmer, Italian counterpart Giorgia Meloni, and French President Emmanuel Macron, are working to rebuild relations between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy after a disastrous clash at the White House. The leaders are fast-tracking efforts to improve their own defense capabilities and are seeking to build a "coalition of the willing" to participate in peacekeeping forces and reassure Kyiv about the durability of any peace.

2) President Trump readies a barrage of tariffs on Canada, Mexico and China. President Donald Trump is planning to impose new tariffs on Canada and Mexico, and double a levy on China, which would apply to roughly $1.5 trillion in annual imports. The tariffs would put a 25% tariff on all imports from Canada and Mexico, except Canadian energy, which would face a 10% rate, and would also double a tariff on China to 20%.

3) Andrew Cuomo enters the race for New York City mayor. Andrew Cuomo, the former three-term governor of New York, has announced his candidacy for mayor of New York City, joining a crowded field of challengers vying to unseat incumbent Mayor Eric Adams. Cuomo's decision to run has upended the race, with several polls showing him leading the field, and he has touted his record during the Covid-19 pandemic despite criticism from both Republicans and some members of his own party.

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Daybreak Weekend: US Jobs, Special European Council, Australia Eco

Fri, 28 Feb 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the February jobs report and a look at earnings from Macys and Gap.
In the UK – a preview of the 'Special European Council.'
In Asia – a look ahead to economic data in Australia, and a discussion on China’s tech rally.

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Trump, Zelenskiy Meeting Turns Into Argument; Mineral Deal Falls Through

Fri, 28 Feb 2025 21:19:05 +0000

Plans to sign a critical minerals deal between the US and Ukraine were scrapped after Donald Trump’s meeting Friday with Volodymyr Zelenskiy quickly devolved into a fiery exchange over the Ukrainian leader’s doubts that the US president’s efforts to broker a deal with Russia would yield lasting peace.

Zelenskiy departed the White House following the public spat, and a planned signing ceremony and press conference were canceled.

US officials said the minerals deal - which Trump had cast as a necessary step to repay American support as he sought to broker a deal with Russia’s Vladimir Putin - was not signed before Zelenskiy’s departure. “He disrespected the United States of America in its cherished Oval Office.

He can come back when he is ready for Peace,” Trump said in a social media post shortly before Zelenskiy’s departure. The Ukrainian leader angered Trump and US Vice President JD Vance when he said he did not believe the planned deal would do enough to deter further Russian aggression. “Putin will never stop and will go further and further,” Zelenskiy said, adding that the Russian leader “hates Ukrainians” and wanted to destroy the country.

“We can do it, but it’s not enough,” he added of the deal.

On this special edition of Balance of Power, hosts Joe Mathieu and Kailey Leinz get instant reaction and analysis to the dramatic moment between Trump and Zelenskiy in the Oval Office with:

Nick Wadhams, Bloomberg US National Security Team Lead
Daniel Fried, Distinguished Fellow at the Atlantic Council/Former-US Ambassador to Poland/Former-Assistant Secretary of State for Europe
Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Senior Democracy Fellow with the Center for the Study of the Presidency & Congress and Bloomberg Politics Contributor
Kelly Grieco, Senior Fellow with the Stimson Center’s Reimagining US Grand Strategy Program

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President Trump's Trade Threats, Zelenskiy Heads to Washington

Fri, 28 Feb 2025 10:40:53 +0000

On today's podcast:

1) China warned it would hit back at Donald Trump’s trade threats after the US president unveiled additional tariffs on Chinese imports, raising the risk of tensions spiraling between the world’s largest economies.“If the US insists on having its own way, China will counter with all necessary measures to defend its legitimate rights and interests,” a spokesperson for the Chinese Ministry of Commerce said Friday. In response to the last round of tariffs, the department previously vowed to take “corresponding” steps.

2) President Volodymyr Zelenskiy arrives at the White House on Friday with a personal appeal to persuade Donald Trump not to sell out his country in the rush to make a peace deal with Russia. The worst fears seemed to fade a bit on the eve of the trip, as the American president blithely walked back his denunciation of his Ukrainian counterpart as a “dictator” just last week.

3) A reading of US inflation due later today comes into sharper focus now that tariffs could be implemented sooner than anticipated, with any surprising increases likely to shake up the market. The Federal Reserve’s preferred inflation metric is expected to cool to the slowest pace since June. The core personal consumption expenditures price index — which excludes often-volatile food and energy costs — probably rose 2.6% in the year through January. Overall PCE inflation likely eased on an annual basis as well, according to the median estimate in a Bloomberg survey of economists.

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Nvidia Fails to Impress Investors; Supreme Court Keeps Trump Foreign-Aid Freeze

Thu, 27 Feb 2025 10:48:20 +0000

On today's podcast:

1) Nvidia Corp., the chipmaker at the center of an AI spending boom, delivered good-but-not-great quarterly numbers on Wednesday, drawing a muted response from investors accustomed to blowout results.

2) Chief Justice John Roberts temporarily let President Donald Trump keep freezing foreign-aid payments while the US Supreme Court weighs whether to lift an order that would require disbursement of as much as $2 billion.

3) Two-time Academy Award-winner Gene Hackman and his wife were found dead at their New Mexico home on Wednesday, the BBC reported, citing local police.

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US and Ukraine Reach Minerals Deal; Wall Street Braces for Nvidia Earnings

Wed, 26 Feb 2025 10:33:55 +0000

On today's podcast:

1) Ukraine agreed with the US to jointly develop its wealth of natural resources as part of a deal that could ease tension with President Donald Trump and advance his administration’s goal of a ceasefire with Russia, people familiar with the matter said.

2) Chances for early action on Donald Trump’s tax cut plans improved as House Republicans passed a budget blueprint Tuesday calling for deep cuts in safety-net programs such as Medicaid.

3) Nvidia Corp. will deliver its highly anticipated fourth-quarter report on Wednesday, giving investors an update on AI spending at a time when the world’s biggest tech stocks have been in retreat.

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Trump Looks to Tighten Chip Ban; US Sides with Russia on UN Vote

Tue, 25 Feb 2025 10:34:11 +0000

On today's podcast:

1) The US looks for further limits on China semiconductor access The Trump administration is planning to expand efforts to limit China's technological advancements, including tougher semiconductor curbs and pressuring allies to escalate restrictions on China's chip industry. The administration has met with Japanese and Dutch counterparts to restrict maintenance of semiconductor gear in China and is discussing sanctions on specific Chinese companies and further restricting chip exports to China.

2) President Trump breaks with allies on blaming Russia for the war in Ukraine The US and Russia voted against a European-backed resolution in the UN General Assembly that calls out Moscow's "full-scale invasion" of Ukraine exactly three years ago. The US and Russia later aligned in the Security Council to approve a US resolution calling for a "swift end" to the conflict without assigning blame, a stark reversal from policy under President Joe Biden.

3) President Trump says tariffs on Canada and Mexico are on track President Trump said tariffs scheduled to hit Canada and Mexico next month were "on time" and "moving along very rapidly." A US official cautioned that the schedule could be less certain, and the fate of the special 25% levy on Canada and Mexico was still to be determined.

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Trump Targets China; Merz Wins Chance to Fix Germany

Mon, 24 Feb 2025 10:37:00 +0000

On today's podcast:

1) Trump Targets China With Biggest Salvo So Far in Second Term The Trump administration took aim at China with a series of moves involving investment, trade and other issues that raises the risk ties may soon worsen between the US and its top economic rival. In recent days, President Donald Trump has rolled out a memorandum telling a key government committee to curb Chinese spending on tech, energy and other strategic American sectors. The administration also called on Mexican officials to place their own levies on Chinese imports – a move that comes after some firms from the Asian nation shifted production to the US neighbor to avoid duties the Republican enacted in his first term.

2) Merz Wins Chance to Fix Germany and Steer EU Through Trump Era Germany’s next chancellor faces a daunting list of challenges to revive his country’s fortunes — but the rest of Europe is looking to him for leadership too. After his election win on Sunday, Friedrich Merz is set to take charge of Europe’s biggest economy with the US defense umbrella looking shakier than any time since the NATO alliance was founded and Donald Trump is discussing the continent’s security with Vladimir Putin.

3) Federal Agencies Tell Workers to Pause Reply to Musk Threat Several US government agencies have advised their employees to ignore for now a demand from Elon Musk’s government efficiency office to justify their jobs or face dismissal. The Pentagon and Department of Justice have told workers to pause on replying to the Trump administration’s email, citing potential legal pitfalls and agency autonomy.

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Daybreak Weekend: Nvidia Earnings, G20 Summit, U.S-China Relations

Fri, 21 Feb 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of preview PCE, and personal spending data, and Nvidia earnings.
In the UK – a preview of the next G20 summit.
In Asia – a look at the evolving relationship between Washington and Beijing.

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Trump's Message to Republican Governors; Hochul Won't Remove Adams

Fri, 21 Feb 2025 10:35:02 +0000

On today's podcast:

1) President Trump urges Republican governors to embrace his agenda as he reshapes Washington

President Donald Trump told Republican governors that implementing his agenda was key to their own political futures, arguing that embracing it could mitigate or even prevent losses in the midterm elections. Trump reiterated his agenda to key allies in the states ahead of crucial gubernatorial races in Virginia and New Jersey later this year, and in three dozen other states next year.

2) Israel warns Hamas over a murdered hostage it says was misidentified

Israel announced that a body returned as part of a ceasefire agreement with Hamas was not that of Shiri Bibas, a young mother taken hostage in October 2023.The remains of Shiri's two sons, Ariel and Kfir, were returned and identified, with the IDF stating that they were "brutally murdered by terrorists in captivity in November 2023."

3) New York Governor Hochul said she doesn't plan to remove New York City Mayor Eric Adams

Governor Kathy Hochul plans to establish "guardrails" on the Adams administration, including creating a state-level deputy inspector general for New York City and giving more legal power to non-mayoral officials. Hochul does not plan to remove Mayor Eric Adams for now, citing the will of the voters and the supremacy of democratic elections.

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Trump Says China Deal Possible; NYC Congestion Pricing Heads to Court

Thu, 20 Feb 2025 10:38:57 +0000

On today's podcast:

1) Trump Says New China Trade Deal ‘Possible’ Despite Tensions President Donald Trump said it would be possible to reach a fresh trade deal with China, signaling he is open to heading off a brewing trade fight between Washington and Beijing.

2) Trump Turns on Zelenskiy, Leaving Ukraine Few Options Amid War Donald Trump’s turn against Volodymyr Zelenskiy leaves Ukraine no good alternatives as it heads into the fourth year of Russia’s full-scale invasion.

3) Trump to Halt NY Congestion Pricing by Terminating Approval The Trump administration is moving to block New York City’s congestion pricing program, reversing a federal approval granted last year and setting up a legal showdown over the tolling initiative.

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Trump Auto Tariffs; Eric Adams Heads to Court

Wed, 19 Feb 2025 10:40:07 +0000

On today's podcast:

1) President Trump floats 25 percent tariffs on auto, chip, and drug imports President Donald Trump said he would likely impose tariffs on automobile, semiconductor, and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2. Trump wants to give companies "time to come in" before announcing new import taxes, and said that when they come into the US and have their plant or factory here, there is no tariff.

2) The US says sanctions will remain on Russia for now after a high-level meeting on Ukraine Secretary of State Marco Rubio told European allies that the US will keep sanctions on Russia in place at least until a deal to end the Ukraine conflict is reached. President Donald Trump said he'll probably meet Vladimir Putin to discuss a settlement before the end of February, and signaled support for holding new elections in Ukraine after an agreement.

3) New York Mayor Eric Adams's political future heads to federal court A federal judge has scheduled a hearing on the Justice Department's request to drop corruption charges against New York City Mayor Eric Adams and wants an explanation for the request. The Justice Department's decision to abandon the prosecution was made despite the objections of some prosecutors, who resigned rather than carrying out the directive, and has been criticized as a "corrupt quid pro quo" for Adams' support of the Trump administration's immigration policies.

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Trump-Putin Discuss Ukraine in Saudi Arabia; Toronto Plane Crash Latest

Tue, 18 Feb 2025 10:39:05 +0000

On today's podcast:

1) Ukraine peace talks between the US and Russia begin in Saudi Arabia Top US and Russian officials met in Saudi Arabia to discuss ending the war in Ukraine, without Ukraine's participation. It follows a landmark phone call between President Donald Trump and Russian President Vladimir Putin, which could pave the way for a summit between the two leaders as soon as next week.

2) 80 people survive after a Delta plane flips while landing in Toronto A Delta Air Lines regional jet flipped out of control after landing in windy, freezing conditions in Toronto, injuring 15 people, three critically. The plane, which was flying from Minneapolis/St. Paul to Toronto-Pearson International Airport, had 76 passengers and four crew on board.

3) President Trump's government efficiency push leads to more high-profile resignations President Trump's push to rein in the federal government is leading to more high-profile clashes. According to the Washington Post, the acting head of the Social Security Administration resigned over the weekend, following a dispute with Elon Musk's government efficiency team over its attempts to access sensitive government records.

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Daybreak Holiday: Walmart, Oil, ETFs

Mon, 17 Feb 2025 10:47:14 +0000

On this special holiday edition of Bloomberg Daybreak US edition, host Nathan Hager speaks with Stephen Schork, founder of the Schork Group, shares his outlook for the energy sector and the oil industry, Eric Balchunas, Bloomberg Intelligence analyst on the market outlook under a new Trump administration and Arun Sundaram at CFRA looks ahead to Walmart earnings.

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Daybreak Weekend: Housing Data, German Elections, Alibaba Earnings

Fri, 14 Feb 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look at U.S housing data and earnings from the EV maker Rivian.
In the UK – a look at upcoming German elections.
In Asia – a look ahead to earnings from Alibaba and economic data in South Korea.

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Trump's Reciprocal Tariffs Plan; TikTok Returns to Apple and Google

Fri, 14 Feb 2025 10:36:44 +0000

On today's podcast:

1) President Trump rolls out plans for reciprocal tariffs on a host of trading partners President Trump has ordered his administration to consider imposing reciprocal tariffs on numerous trading partners to rebalance trade relations. The tariffs would be customized for each country, aiming to offset not just their own levies on US goods but also non-tariff barriers, and could take weeks or months to complete. The move is seen as a potential opening bid for negotiation, and Trump hopes to have a discussion with other nations about how existing policies have created an imbalanced trade environment.

2) The White House intensifies efforts to shrink the federal workforce The Trump administration is advising federal agencies to lay off thousands of probationary employees, with some exceptions, as part of its effort to rapidly downsize the federal government. Agencies such as the General Services Administration and the Department of Energy are making cuts, with the latter planning to dismiss 90% of its probationary employees for poor performance.

3) TikTok is back on the Apple and Google app stores Apple and Alphabet’s Google are restoring ByteDance TikTok to their app stores following assurances in a letter from US Attorney General Pam Bondi that a ban wouldn’t immediately be enforced. The two companies had removed TikTok in the US last month to comply with a law passed in 2024. By Thursday evening, the software had returned to the Apple App Store and Google Play store.

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Trump's Call with Putin; Gabbard Confirmed as Spy Chief

Thu, 13 Feb 2025 10:43:35 +0000

On today's podcast:

1) President Trump speaks to Vladimir Putin with hopes of ending war in Ukraine President Donald Trump had a phone call with Russian President Vladimir Putin to start negotiating an end to the war in Ukraine, a shift from the previous US policy. The call and subsequent statements from Trump's administration have caused concern among European allies, who fear the US is giving in to Putin's demands without getting anything in return.

2) Trump's buyout offer to federal workers gets green light but may come up short About 75,000 federal employees signed up for a voluntary resignation program, falling short of the White House's goal of 5% to 10% of the 2.4 million civilian federal workforce. The resignation program, known as "Fork in the Road," closed after a federal judge lifted his order freezing the program, with any resignations received after 7:20 p.m. Washington time not being accepted.

3) The Senate confirms Tulsi Gabbard as next Director of National Intelligence Gabbard won support from key Republicans, including Senate Intelligence Committee Chairman Tom Cotton, due to her plans to slim down the organization and cut duplication. Gabbard has promised to "encourage a culture where tough questions, scrutiny and challenging of assumptions is welcome" and has defended her willingness to question US intelligence, citing her military experience and rejection of "regime-change wars".

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Trump Directs Federal Job Cuts; Musk Defends Downsizing

Wed, 12 Feb 2025 11:02:41 +0000

On today's podcast:
1) Trump Directs Federal Job Cuts as Musk Defends DownsizingPresident Donald Trump directed agencies to work with Elon Musk’s government cost-cutting effort to slash their workforces, according to a White House official, his latest move to gut the federal bureaucracy.Trump’s action orders agency heads to coordinate with Musk’s Department of Government Efficiency to “significantly reduce the size of the government” and “limit hiring to essential positions,” according to a White House fact sheet seen earlier Tuesday by Bloomberg News.
2) Trump Hails Russian Release of American as He Preps Peace PlanPresident Donald Trump hailed the release of an American who had been detained in Russia, saying he hoped the move would allow the two nations to work toward ending the war in Ukraine.“I think there’s goodwill, in terms of the war,” Trump said as he greeted Marc Fogel, a school teacher held in Russia since 2021. “I think this could be the very important element, you could be a big part of it, actually, because it could be a big, important part of getting the war over with Ukraine.”
3) US Core Inflation Seen Rising at Firm Pace in JanuaryInflation likely remained stubborn last month based on economists’ estimates, backing the Federal Reserve’s patient approach to lowering borrowing costs.The so-called core consumer price index that excludes food and energy is seen rising 0.3% in January from December in the Bureau of Labor Statistics report due Wednesday. From a year earlier, core CPI likely increased 3.1%, according to the median forecast in a Bloomberg survey.

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Trump Sets Tariffs on Steel and Aluminum, Altman Responds to Musk's OpenAI Offer

Tue, 11 Feb 2025 10:36:21 +0000

On today's podcast:

1) Trump Sets 25% Steel, Aluminum Tariffs, Widening Trade War

President Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts to protect politically important US industries with levies hitting some of the country’s closest allies.

The tariffs will apply widely to all US imports of steel and aluminum, including from Canada and Mexico, among the country’s top foreign suppliers of the metals. The levies, which also include finished metal products, are meant to crack down on what administration officials said were efforts by countries like Russia and China to circumvent existing duties.

2) EU Says It Will Impose Countermeasures Against US Tariffs

The European Union vowed to respond to 25% tariffs President Donald Trump said the US will impose on steel and aluminum imports, escalating a potential trade dispute with one of Washington’s closest allies.

“I deeply regret the US decision to impose tariffs on European steel and aluminum exports,” European Commission President Ursula von der Leyen said in a Tuesday statement. “Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures.”

3) Altman Says ‘No Thank You’ to Musk-Led Group’s OpenAI Bid

A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

With the unsolicited bid, Musk said he hopes to return OpenAI to being “the open-source, safety-focused force for good it once was,” according to a statement. In response, OpenAI Chief Executive Officer Sam Altman posted on Musk’s X social-media platform: “No thank you but we will buy twitter for $9.74 billion if you want.”

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Eagles Defeat Chiefs 40-22; Trump Plans Tariffs on Steel, Aluminum Imports

Mon, 10 Feb 2025 10:38:05 +0000

On today's podcast:

1) Eagles Defeat Chiefs 40-22 To Win Their Second Super Bowl

A ferocious Philadelphia Eagles defense tormented and frustrated Patrick Mahomes while Hurts made all the plays the offense needed. So much for the Kansas City Chiefs’ quest for a Super Bowl three-peat. It wasn’t even close. Cooper DeJean got a pick-6 on his 22nd birthday, Josh Sweat pressured Mahomes all night and the Eagles routed the Chiefs 40-22 on Sunday to secure the franchise’s second Super Bowl championship.

2) Trump Plans Tariffs on Steel, Aluminum Imports

President Donald Trump plans to impose 25% tariffs on all imports of steel and aluminum into the US, broadening his trade restrictions to some of the country’s top trading partners and seeking to protect domestic industries that helped him win battleground states last year.

3) BP Shares Jump After Activist Investor Elliott Builds Stake

BP Plc shares surged the most since 2020 after one of the world’s most aggressive activist investors built a stake in the company, seeking to end years of under-performance. Elliott Investment Management, led by Paul Singer, has amassed a significant holding in the British energy giant, Bloomberg reported on Saturday. This is typically the first step in a playbook it has deployed to successfully push for change at many other big public companies. Over the years, the fund’s efforts have led to strategy shifts, CEO departures and even corporate breakups.

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Daybreak Weekend: US CPI, Paris AI Summit, Trade War

Fri, 07 Feb 2025 22:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look at U.S CPI and Retail sales data, along with quarterly earnings from McDonalds.
In the UK – a look at a summit on artificial intelligence taking place in Paris.
In Asia – a look at the potential fallout of Donald Trump's trade war with China.

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Trump's Fed Worker Buyout Plan on Hold; Amazon Can't Keep Up with AI Demand

Fri, 07 Feb 2025 10:40:43 +0000

On today's podcast:

1) Judge Temporarily Halts Trump, Musk Federal Worker ‘Buyout’ A judge temporarily delayed the deadline for millions of federal workers to decide whether to accept the Trump administration offer to resign with the promise of months of full pay.

2) Amazon, Echoing Microsoft, Says It Can’t Keep Up With AI DemandAmazon.com Inc. warned investors that it could face capacity constraints in its cloud computing division despite plans to invest some $100 billion this year.

3) Alaska Crash Marks Third Air Tragedy in US in Just Two WeeksA plane carrying 10 people that went missing in rural Alaska on Thursday during bad weather looks set to be the third deadly aviation disaster in the US over a span of just two weeks.

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Trump Budget and Gaza Strategy Fallout; Bessent Says Trump Wants Lower 10-Year Yields

Thu, 06 Feb 2025 10:34:50 +0000

On today's podcast:

1) GOP Senators Break With House Over Trump’s Budget Strategy

2) Musk ‘Buyout’ Taken by 40,000 Federal Workers as Deadline Nears

3) Bessent Says Trump Wants Lower 10-Year Yields, Not Fed Cuts

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Trump's Gaza Proposal; China Weighs Probe into Apple

Wed, 05 Feb 2025 10:36:50 +0000

On today's podcast:

1) President Trump calls for US to take over the Gaza Strip

2) Apple caught in cross hairs of US-China trade tensions

3) Tech shares lower on disappointing earnings from Alphabet and AMD

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China Hits Back Against Trump’s Tariffs; Netanyahu-Trump Meeting

Tue, 04 Feb 2025 10:33:36 +0000

On today's podcast:

1) China Hits Back Against Trump’s Tariffs With Targeted Actions

2) UBS Extends Decline as Executives Discuss Capital Rules

3) Netanyahu Set for Trump Meeting With Fragile Grip on Power

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Trump Imposes Tariffs; Dollar Surges on New Tariffs

Mon, 03 Feb 2025 10:34:07 +0000

On today's podcast:

1) President Trump says Americans could feel economic pain as he readies for trade war

2) The dollar surges to a two year high as Canada, Mexico, and China brace for new duties

3) Stocks sell off around the world while crude oil rallies

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Daybreak Weekend: Job Report, Earnings Season, DeepSeek

Sat, 01 Feb 2025 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US: We look ahead to the January Jobs report and preview some big tech earnings we're watching
In the UK: We look ahead to the BOE rate decision
In Asia: We detail the future of China's DeepSeek AI

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Black Boxes Recovered from Plane Crash; Trump Barrels Toward Tariff Showdown

Fri, 31 Jan 2025 10:37:08 +0000

On today's podcast:

1) American Airlines DC Aircraft Collision Leaves No Survivors

2) Trump Barrels Toward Tariff Showdown With Canada, Mexico, China

3) Apple Forecast Cheers Investors After Mixed Holiday Results

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Bloomberg Bonus Episode: Apple and Intel Earnings

Thu, 30 Jan 2025 22:15:00 +0000

Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Apple and Intel. They speak with:

Bloomberg News Technology Reporter Jackie Davalos
Angelo Zino, Senior Equity Analyst at CFRA Research
Bloomberg Technology Co-Host Caroline Hyde

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Deadly Plane Crash Near DC Airport; Meta, Microsoft and Tesla Earnings

Thu, 30 Jan 2025 10:52:55 +0000

On today's podcast:
1) American Airlines Plane Collides With Helicopter Near DC Airport
2) Meta Shares Gain on Mark Zuckerberg’s Positive AI Comments
3) Microsoft Cloud Growth Constrained by Data Center Shortage

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Bonus Episode: Tesla, Meta and Microsoft Earnings

Wed, 29 Jan 2025 22:30:36 +0000

Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Tesla, Meta and Microsoft. They speak with:

Bloomberg Intelligence Senior Technology Analyst Mandeep Singh
Bloomberg Technology Co-Host Caroline Hyde
James Cakmak, Technology Analyst at Clockwise Capital
Bloomberg Intelligence Senior Technology Analyst Anurag Rana

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Instant Reaction: Jay Powell on the Fed Decision

Wed, 29 Jan 2025 21:11:54 +0000

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Trump Offers Fed Workers Buyouts; Investors Await Tech Earnings & Fed Decision

Wed, 29 Jan 2025 10:34:52 +0000

On today's podcast:

1) Trump Offers Buyouts to Workers Balking at Return to Office

2) Investors Await Mag 7 Earnings & Fed

3) Microsoft Probing If DeepSeek-Linked Group Obtained OpenAI Data

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DeepSeek Upends AI Industry; Trump Vows 'Much Bigger' Tariffs

Tue, 28 Jan 2025 10:46:44 +0000

On today's podcast:

1) DeepSeek Shows China Playbook to Deal an Even Bigger Shock to US

2) World’s Richest People Lose $108 Billion After DeepSeek Selloff

3) Trump Vows Tariffs ‘Much Bigger’ Than 2.5% and on Key Areas

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DeepSeek, the Chinese AI Startup, Roils Markets; Trump Holds Colombia Tariffs

Mon, 27 Jan 2025 10:31:31 +0000

On today's podcast:
1) DeepSeek Shakes Up Stocks as Traders Question US Tech Valuations

2) Trump to Hold Off on Colombia Tariffs After Deal on Migrants

3) Trump Ramps Up Deportation Machine With Raids Targeting Chicago

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Evolving Money: Building Bridges with Bitcoin (Sponsored Content)

Sun, 26 Jan 2025 11:00:00 +0000

Just as mobile banking revolutionized our relationship with our money and led to a plethora of new tools for management and investing, the proliferation of crypto and blockchain technologies have opened up all manner of new investment opportunities that go far beyond what early Bitcoin adopters could’ve imagined.

This episode is sponsored by Coinbase.

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Daybreak Weekend: Fed Meeting, ECB Decision, RBA Preview

Sat, 25 Jan 2025 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s Fed decision and U.S tech earnings.
In the UK – a preview of next week’s ECB decision.
In Asia – a preview of next week’s RBA decision and a look at U.S-China trade relations.

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Trump Goes Dovish On China Tariffs, Fed Pressure, Cabinet Confirmations Push

Fri, 24 Jan 2025 10:42:29 +0000

On today's podcast:

1) President Trump says he would prefer not to impose tariffs on China

2) Trump to speak with Fed Chair Jay Powell about cutting rates

3) Senators may be working overtime to get Trump's Cabinet appointees confirmed

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Trump's Davos Address; Zelenskiy Calls for Continued US Support

Thu, 23 Jan 2025 10:47:03 +0000

On today's podcast:

1) President Trump gets set to address the world's elite at Davos

2) Ukraine's President Zelenskiy says any effective peacekeeping force must include US troops

3) Firefighters battle to maintain another rapidly-moving wildfire near Los Angeles

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NetFlix Streams to Record; Trump Widens Tariff Threats to China and Europe

Wed, 22 Jan 2025 10:33:55 +0000

On today's podcast:

1) Netflix Posts Record Quarter Thanks to Sports, ‘Squid Game’

2) Trump Widens Tariff Threats to China and Europe

3) Trump Pushes to Make US an AI Superpower

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Instant Reaction: Netflix Posts Record Quarter

Tue, 21 Jan 2025 22:18:44 +0000

Netflix closed 2024 with its biggest quarterly subscriber gain in history, benefiting from its first major live sporting events and the return of Squid Game.The company added 18.9 million customers in the fourth quarter, according to a shareholder letter Tuesday. That was more than double what Wall Street expected and brought global subscribers at Netflix to more than 300 million. The company’s previous best was 15 million in the first quarter of 2020 — numbers driven by the onset of the coronavirus pandemic. For instant analysis and reaction, hosts Carol Massar and Tim Stenovec speak with Bloomberg Technology Co-Host Caroline Hyde and Bloomberg Intelligence Technology and Media Analyst Geetha Ranganathan.

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Trump's Executive Orders; Trump Pauses Tik Tok Ban

Tue, 21 Jan 2025 10:53:37 +0000

On today's podcast:

1) Trump Signs Sweeping Actions to Deport Migrants, Tighten Border

2) Stocks Whipsaw, Dollar Rises on Trump Warnings

3) TikTok Ban Paused for 75 Days by Trump Executive Order

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Special Coverage: Donald Trump's Inauguration

Mon, 20 Jan 2025 20:42:43 +0000

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the inauguration of President Donald Trump.

On this edition, Joe and Kailey speak with:

Former-Trump Energy Secretary Dan Brouillette
Lindsay Chervinsky, Executive Director of the George Washington Presidential Library
Shirley Martey Hargis, nonresident fellow in the Atlantic Council’s Global China Hub
Rep. Brad Sherman x RussellU.S. Representative for California's 32nd Congressional District
United States Senator Bill Hagerty (R-TN)

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Daybreak Holiday: Trump's Second Term, Netflix, Fed

Mon, 20 Jan 2025 10:00:00 +0000

In this Martin Luther King Jr Holiday special edition of Bloomberg Daybreak with Nathan Hager:

Wendy Schiller of Brown University looks ahead to the second Presidential term of Donald Trump
Bloomberg Intelligence analysts Geetha Ranganatha and Stephen Flynn break down Netflix earnings
Bloomberg's Michael McKee explains how the fed will act under a Trump administration

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Daybreak Weekend: Trump Inauguration, Davos preview, Tariff Threat

Sat, 18 Jan 2025 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of what comes next for the U.S economy when Donald Trump takes office, and Netflix earnings.
In the UK – a preview of the World Economic Forum in Davos.
In Asia - a preview on whether Donald Trump will make good on his threats toward China.

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Middle East Truce Back on Track; Bessent on Path for Confirmation

Fri, 17 Jan 2025 10:37:09 +0000

On today's podcast:

1) Netanyahu Says Israel-Hamas Deal to Pause Gaza War On Track

2) Bessent Clears Senate Grilling, Paving Way for Confirmation

3) Apple, Amazon, Netflix to Stream LA Fires Charity Concert

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Middle East Truce Setback; Biden Farewell Address

Thu, 16 Jan 2025 10:42:59 +0000

On today's podcast:

1) Israel Says New Demands by Hamas Casting Doubt on Gaza Deal

2) Bessent to Say Dollar’s Global Status Is Critical to US Economy

3) Big Bank Earnings Continue

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LA Faces High Winds as Fire Battle Continues; SEC Sues Elon Musk

Wed, 15 Jan 2025 10:30:59 +0000

On today's podcast:

1) LA Faces High Winds and No Sign of Rain After Week of Flames

2) Musk Accused by SEC of Cheating Twitter Holders Out of Millions

3) Big Bank Earnings Begin

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Fire Scarred LA Braces for More Wind; DOJ Trump Election Case Report Released

Tue, 14 Jan 2025 10:32:53 +0000

On today's podcast:

1) Fire-Scarred Los Angeles Braces for More Extreme Wind

2) DOJ Report Says Trump Would Have Been Convicted in Election Case

3) China Weighs Sale of TikTok US to Musk as a Possible Option

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Los Angeles Fires Rage; Blue Origin Launch Delayed

Mon, 13 Jan 2025 10:35:44 +0000

On today's podcast:

1) Los Angeles Fires Rage as High Winds Set to Return This Week

2) Trudeau Says Canada Tariffs Ready If Trump Starts Trade War

3) Bezos’ Blue Origin Delays Debut Mission of New Glenn Rocket

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Daybreak Weekend: Bank Earnings, UK Asset Slump, Nippon Steel

Sat, 11 Jan 2025 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look at U.S eco data and bank earnings next week.
In the UK – a focus on a UK asset slump and what may come next.
In Asia – a look at BYD and the EV sector and what comes next in the U.S, Nippon Steel saga.

See omnystudio.com/listener for privacy information.

Deadly LA Fires Rage On; Supreme Court Allows Trump Sentencing

Fri, 10 Jan 2025 10:35:13 +0000

On today's podcast:

1) Firefighters begin to make progress as the death toll rises in the Los Angeles wildfires

2) The Supreme Court refuses to stand in the way of Donald Trump's hush money sentencing

3) Nvidia slams the Biden Administration for last-minute rules before Trump takes office

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Instant Reaction: Supreme Court Allows Trump Sentencing

Fri, 10 Jan 2025 01:40:27 +0000

A divided US Supreme Court cleared the way for President-elect Donald Trump’s sentencing in his hush money criminal case, dealing him a setback as he prepares to begin his second term in office. For reaction and perspective, host Doug Krizner speaks with Bloomberg legal analyst and host of Bloomberg Law, June Grasso.

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LA Under Siege as New Fire Burns; Remembering Jimmy Carter

Thu, 09 Jan 2025 10:44:44 +0000

On today's podcast:

1) Los Angeles Under Siege as New Fire Burns in Hollywood Hills

2) Wall Street Job Losses May Top 200,000 as AI Replaces Roles

3) Remembering Jimmy Carter

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LA Wildfires Burn Out of Control; Trump’s Panama and Greenland Threats

Wed, 08 Jan 2025 10:38:09 +0000

On today's podcast:

1) Los Angeles Ramps Up Evacuations as Palisades Fire Grows

2) Trump’s Panama, Greenland Threats Signal Unchained Second Term

3) JPMorgan Planning to Bring Staff to Office Five Days a Week

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Nvidia's AI Future; Trump Aims to Block Key Report

Tue, 07 Jan 2025 10:36:21 +0000

On today's podcast:

1) Nvidia rolls out a vision for an AI future at the Consumer Electronics Show

2) Former Bank of England Governor Mark Carney says he's considering a run to be Canada's Prime Minister

3) President-elect Trump pushes to block the release of the special counsel's final report

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Congress Meets to Certify Trump's Victory; NYC Congestion Pricing Begins

Mon, 06 Jan 2025 10:51:18 +0000

On today's podcast:

1) Trump Weighs Jan. 6 Clemency With Congress Set to Ratify His Win

2) NYC Congestion Pricing Off to Quiet Start Before Monday Commute

3) Canada’s Trudeau Is Likely to Resign This Week, Globe Says

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Daybreak Weekend: US Jobs, UK Food and Culture, China Economy

Sat, 04 Jan 2025 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the December jobs report and Delta Airlines earnings.
In the UK – a preview of the food and culture scene in the UK next year.
In Asia – a preview of what to expect from China’s economy and the automobile sector in 2025.

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Special Coverage: Mike Johnson Wins House Speaker Vote

Fri, 03 Jan 2025 22:33:33 +0000

Republican Mike Johnson won reelection as House speaker, overcoming resistance from a small but pivotal group of conservative hardliners after a flurry of last-minute talks and with the help of a critical endorsement from President-elect Donald Trump. For analysis of the moment Johnson reclaimed the gavel, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with Balance of Power host Joe Mathieu. They also speak with Bloomberg's Tyler Kendall from Capitol Hill and get insight from Bloomberg politics editor Laura Davison.

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FBI Investigates Links in New Orleans Attack; Biden to Block Nippon Steel Deal

Fri, 03 Jan 2025 10:35:47 +0000

On today's podcast:

1) The FBI says the truck attack in New Orleans was an act of terrorism

2) Republicans hope to avoid a leadership fight as Congress votes for House Speaker today

3) Sources tell Bloomberg President Biden is set to stop the sale of US Steel to Nippon Steel

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Instant Reaction: Cybertruck Blast Suspect Identified

Thu, 02 Jan 2025 20:25:29 +0000

The suspect who died in a Cybertruck explosion outside the Trump Las Vegas hotel on Wednesday was identified as Matthew Alan Livelsberger, according to people familiar with the matter. Hosts Carol Massar and Tim Stenvoec discuss the latest following a press conference with Clark County sheriff Kevin McMahill with Bloomberg News National Security Team Leader Nick Wadhams and Bloomberg News Auto Reporter Keith Naughton for reaction and analysis.

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New Orleans Attack, Cybertruck Explosion Raise Security Fears

Thu, 02 Jan 2025 10:36:08 +0000

On today's podcast:

1) New Orleans Attack, Cybertruck Explosion Raise US Security Fears

2) US Stocks Set for Bounce After Four-Day Losing Run

3) US Dockworkers, Port Employers Set to Restart Talks Next Week

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New Years Special: Tech Trends with Ives and Munster

Wed, 01 Jan 2025 10:00:00 +0000

Bloomberg’s Nathan Hager looks at the biggest tech stories from 2024 and what we can expect for 2025. He speaks with Gene Munster of Deepwater Asset Management and Dan Ives from Wedbush.

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Treasury Alleges Hack from China; Mike Johnson Speakership Uncertain

Tue, 31 Dec 2024 10:35:08 +0000

On today's podcast:

1) The Treasury Department says hackers backed by China gained access to their systems earlier this month

2) President-elect Trump backs Mike Johnson for Speaker with some GOP members signaling concern

3) A National Day of Mourning for Jimmy Carter is scheduled for January

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Jimmy Carter's Passing; Republicans Fight to Back Speaker Johnson

Mon, 30 Dec 2024 11:01:24 +0000

On today's podcast:

1) We remember the legacy of former US President Jimmy Carter

2) Republicans support Speaker Mike Johnson amid pushback from party hardliners

3) Unanswered questions after 179 are killed in the worst plane crash in South Korea's history

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Special Report: Former President Jimmy Carter Dead at 100

Sun, 29 Dec 2024 22:26:51 +0000

Jimmy Carter, the 39th US President, has died at the age of 100, leaving behind a legacy of promoting human rights and peace.

Bloomberg's John Tucker and Joe Mathieu look at the former president's life and legacy.

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Daybreak Weekend: Global Market Expectations for 2025

Sat, 28 Dec 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look at what the Federal Reserve accomplished in 2024 and what to expect in 2025.
In the UK – a look at what's on the horizon for Europe's stock market.
In Asia – a look at some of the potential themes for Asian markets in the year ahead.

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2025 Market Uncertainty; Trump Tariff Proposals Spook Businesses

Fri, 27 Dec 2024 10:37:13 +0000

On today's podcast:

1) Traders search for clarity on the Fed and Trump policy proposals

2) Businesses brace for the costs of potential Trump tariffs

3) The business world mourns the death of media and finance executive Richard Parsons

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S&P Heads for 26% Annual Gain; Trump Announces Panama Ambassador

Thu, 26 Dec 2024 10:40:23 +0000

On today's podcast:
1) Wall Street gets back to trading on a holiday shortened week
2) President-elect Trump names an ambassador to Panama as he accuses the country of ripping off the US
3) Israel and Hamas trade accusations as ceasefire negotiations continue

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Daybreak Holiday: Inflation Pressure, Markets, Retail

Wed, 25 Dec 2024 10:00:00 +0000

In this Christmas Day special edition of Bloomberg Daybreak with Nathan Hager:

Tom Porcelli, Chief US Economist at PGIM Fixed Income, discusses what the Fed will do in 2025.
Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets and Cameron Dawson, the Chief Investment Officer at NewEdge Wealth, break down what we can expect in equities
Burt Flickinger, the Managing Director at Strategic Resource Group, brings us the winners and losers of the 2024 holiday retail season.

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Stocks Rally Into Christmas Break; Biden to Decide US Steel Fate

Tue, 24 Dec 2024 10:49:43 +0000

On today's podcast:

1) Stocks Gain in Europe After US Tech Sector Rallies

2) Biden to Decide on US Steel Acquisition After Panel Deadlocks

3) Bill Clinton Admitted to DC Hospital After Developing a Fever

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Trump Calls Musk Presidency Talk Hoax; Nissan-Honda Merger

Mon, 23 Dec 2024 10:50:59 +0000

On today's podcast:

1) Trump Says Talk He’s Ceded Presidency to Musk Is a ‘Hoax’

2) Panama’s Leader Takes Up Feud With Trump Over Canal Control

3) Honda, Nissan Formalize Merger Talks, Aim to Combine by 2026

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Daybreak Weekend: US Home Sales, Europe Stocks, Softbank Investment

Sat, 21 Dec 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of new home sales and retail outlook.
In the UK – a look at what’s on the horizon for the European stock markets.
In Asia – a look at Softbank’s pledge to invest $100 billion in the U-S over the next four years, and a look at a potential merger between Honda and Nissan.

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Instant Reaction: House Passes Funding Bill

Fri, 20 Dec 2024 23:49:21 +0000

The House passed funding to keep the US government operating until mid-March just hours before a midnight shutdown deadline, capping off a tumultuous two days in which two earlier plans pursued by Speaker Mike Johnson collapsed. For instant reaction and analysis, host Kailey Leinz speaks with Lester Munson, Principal of the International Practice at BGR Group and Republican Strategist, Jeanne Sheehan Zaino, Senior Democracy Fellow with the Center for the Study of the Presidency & Congress and Bloomberg Politics Contributor and Megan Scully, Bloomberg Capitol Influence team leader.

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Government Shutdown Looms; Trump Threatens EU Tariffs

Fri, 20 Dec 2024 10:40:52 +0000

On today's podcast:

1) The House scrambles to avoid a shutdown after rejecting a stopgap backed by Donald Trump

2) The President elect threatens the E-U with tariffs unless it buys more American oil and gas

3) U-S diplomats arrive in Syria for historic talks on the country's transition

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Instant Reaction: Trump-Backed Funding Plan Fails

Fri, 20 Dec 2024 00:48:43 +0000

The Republican-led House rejected a temporary funding plan backed by President-elect Donald Trump on Thursday with just over 24 hours to go before a US government shutdown, capping an extraordinary two days in Washington that tested the limits of the incoming president’s power. For instant reaction and analysis, host Doug Krizner spoke with Bloomberg Capitol Influence deputy team leader Mike Dorning.

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Government Shutdown Deadline; Fed Fueled Selloff on Wall Street

Thu, 19 Dec 2024 10:42:08 +0000

On today's podcast:

1) Trump Breaks With Johnson on Funding Bill, Wants Debt Limit Vote

2) Powell Signals Fed’s Focus Has Returned Firmly to Inflation

3) Micron Set for Biggest Drop Since 2020 on Sluggish Sales Outlook

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Instant Reaction: Jay Powell on Fed Policy

Wed, 18 Dec 2024 21:26:07 +0000

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Instant Reaction: The Fed Decides

Wed, 18 Dec 2024 20:00:12 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance

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Fed's Final Rate Decision of Year; Honda & Nissan Merger?

Wed, 18 Dec 2024 10:40:08 +0000

On today's podcast:

1) Stocks Keep Steady With Fed in Focus

2) Honda, Nissan Explore Merger With Foxconn Also in Hunt for Stake

3) Luigi Mangione Indicted for First-Degree Murder in CEO Death

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Trump Legal Setback; Traders Prep for Fed Rate Decision

Tue, 17 Dec 2024 10:30:27 +0000

On today's podcast:

1) A legal defeat for Donald Trump involving his hush money case in New York

2) Stocks are lower as the Fed kicks off its final rate decision of the year

3) Ukraine claims responsibility for a bombing that killed a Russian general in Moscow

See omnystudio.com/listener for privacy information.

Investors Ready for Fed Rate Decision; Cool China Eco Data

Mon, 16 Dec 2024 10:31:20 +0000

On today's podcast:
1) Investors ready for a rate cut in the year's final full week of trading
2) States call for more authority to address drone sightings
3) Further signs of economic softening in China weigh on sentiment

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Daybreak Weekend: Fed Preview, BOE Decision, China Data

Sat, 14 Dec 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s Fed decision and earnings from Nike.
In the UK – a preview of the Bank of England’s monetary policy decision.
In Asia – a look ahead to upcoming economic data in China.

See omnystudio.com/listener for privacy information.

New Details on United Health Murder Suspect; Broadcom Stock Surges

Fri, 13 Dec 2024 10:51:11 +0000

On today's podcast:
1) Suspect in UnitedHealth Leader’s Killing Wasn’t a Customer
2) Trump Backs US Dockworkers Poised to Strike Over Automation
3) Broadcom Gains as Results Show Strong AI Growth

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New Clues in CEO Murder Investigation; Trump Reportedly Invites President Xi to Inauguration

Thu, 12 Dec 2024 10:40:00 +0000

On today's podcast:

1) Fingerprints, Ballistics, Reddit Writings: Latest in CEO Murder

2) Trump Extended Xi Longshot Invitation to Inauguration, CBS Says

3) Elon Musk Becomes First Person to Exceed $400 Billion Net Worth

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CEO Murder Suspect Fights Extradition; Wall Street Awaits CPI

Wed, 11 Dec 2024 10:45:08 +0000

On today's podcast:

1) Frantic Manhunt for CEO’s Killer Yields to NY Extradition Drama

2) Trump Taps Andrew Ferguson to Replace Lina Khan as FTC Chair

3) US Inflation Data to Show Fourth Consecutive Month of Firm Gains

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Healthcare CEO Murder Arrest; Israel Steps up Strikes in Syria

Tue, 10 Dec 2024 10:44:57 +0000

On today's podcast:

1) NYC Murder Suspect Was Ivy League Grad Who Praised Unabomber

2) Israel Steps Up Airstrikes, Sends Troops Deeper Into Syria

3) Hegseth Says Trump Tells Him to ‘Keep Fighting’ for Defense Post

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Special Report: Suspect Arrested in UnitedHealthcare CEO Murder

Mon, 09 Dec 2024 19:22:43 +0000

A 26-year-old man suspected in the fatal shooting of UnitedHealth Group Inc. executive Brian Thompson was arrested in Altoona, Pennsylvania.The man, identified as Luigi Mangione, was recognized while he was eating at a McDonald’s restaurant by an employee. He was found with a manifesto, multiple fake identifications and a so-called ghost gun with a suppressor, similar to the one used in the shooting, according to police.Kailey Leinz and Joe Mathieu discuss the news with Bloomberg News Reporter Myles Miller.

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Assad's Syria Regime Falls; President Trump talks Second Term

Mon, 09 Dec 2024 10:36:01 +0000

On today's podcast:

1) World Braces for tension as Bashar al-Assad's regime falls in Syria

2) President-elect Trump talks Tariffs, Jay Powell, and possible pardons for January 6th

3) China eases monetary policy for first time in more than a decade

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Daybreak Weekend: US CPI, ECB Meeting, RBA Decision

Sat, 07 Dec 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look at U.S CPI data and a preview of Oracle earnings.
In the UK – a look ahead to the upcoming ECB decision.
In Asia – a look ahead to the upcoming RBA decision and Australia’s social media ban for teens.

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Rebuilding the French Government; More Trump Cabinet Picks

Fri, 06 Dec 2024 10:43:53 +0000

On today's podcast:

1) Macron Tries to Rebuild French Government Amid Political Chaos

2) Trump Picks Key Crypto and China Cabinet Posts

3) NYPD Manhunt for UnitedHealthcare CEO’s Killer Yields Photos

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Special Coverage: Strong Earthquake Strikes California

Thu, 05 Dec 2024 20:38:27 +0000

A magnitude-7.0 earthquake off the coast of Northern California triggered a brief tsunami warning across a swath of the US West Coast. The tsunami threat was declared over less than an hour later even as the area experienced multiple aftershocks. It was the strongest earthquake to strike the contiguous US since 2019. For the latest, hosts Tim Stenovec and Jess Menton speak with Bloomberg News Deputy Team Leader for Power and Natural Disasters Mark Chediak.

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Macron Begins Search for New French Premier; Bitcoin Tops $100,000

Thu, 05 Dec 2024 10:35:16 +0000

On today's podcast:

1) Macron Begins Search for New French Premier as Barnier Falls

2) UnitedHealth Executive Fatally Shot in NYC on Investor Day

3) Bitcoin Exceeds $100,000 on Trump’s Pro-Crypto Pick for the SEC

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Special Coverage: French Government Falls After Vote

Wed, 04 Dec 2024 21:00:45 +0000

Far-right leader Marine Le Pen teamed up with a left-wing coalition to topple the French government, pitching the country into a prolonged period of turbulence that’s likely to further unsettle investors. For reaction and analysis, hosts Tim Stenovec and Emily Graffeo speak with Bloomberg Daybreak Europe host Stephen Carroll, reporting live from our Paris bureau and Steven Englander, global head of G10 FX Research at Standard Chartered Bank.

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French Government on Brink of Collapse; South Korea’s Yoon Faces Impeachment

Wed, 04 Dec 2024 10:59:56 +0000

On today's podcast:

1) Macron Asks French Lawmakers Not to Topple the Government

2) South Korea’s Opposition Submits Impeachment Motion Against Yoon

3) Trump Mulls Replacing Hegseth With Florida Governor DeSantis

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French Government on Brink of Collapse; SpaceX Valuation Takes Off

Tue, 03 Dec 2024 10:29:53 +0000

On today's podcast:

1) French Lawmakers to Vote Wednesday on Toppling the Government

2) SpaceX Weighs Sale of Insider Shares at $350 Billion Valuation

3) Buy ‘Magnificent Seven’ on Corrections, NYU’s Damodaran Says

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Hunter Biden Pardoned; Stocks Enter December at Record High

Mon, 02 Dec 2024 10:55:33 +0000

On today's podcast:

1) Biden Pardons Son Hunter in Reversal With Weeks Left in Term

2) Trump Weaponizing Dollar Seen as a Needless BRICS Provocation

3) S&P 500 Clocks Best Month of the Year

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Daybreak Weekend: Jobs Preview, Poland Election, Trump Tariffs

Sat, 30 Nov 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - a preview of the November jobs report and oil outlook.
In the UK - a preview of Poland’s Presidential election.
In Asia – a look at the impact of Donald Trump tariffs on China, and Bitcoin outlook.

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Black Friday Markets; Dollar Heads for Worst Week Since August

Fri, 29 Nov 2024 10:43:00 +0000

On today's podcast:

1) Dollar Heads for Worst Week Since August as Trump Trade Stalls

2) Wall Street Macro Traders Head for Worst Year Since the Pandemic

3) Yen Breaches Key 150 Level as Tokyo Inflation Fuels BOJ Bets

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Daybreak Holiday: November Jobs, Oil Volatility, Antitrust Under Trump

Thu, 28 Nov 2024 10:00:00 +0000

In this Thanksgiving Day special edition of Bloomberg Daybreak with Nathan Hager:

BMO's Jen Lee and Citi's Veronica Clark preview the November jobs report
Stephen Schork of the Schork Group looks at volatile energy markets
Jennifer Lee of Bloomberg Intelligence discusses how the incoming Trump administration will impact antitrust litigation against Big Tech.

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Trump Picks Key Trade Official; Israel-Hezbollah Temporary Ceasefire

Wed, 27 Nov 2024 10:36:14 +0000

On today's podcast:

1) President-elect Trump adds trade rep Jamieson Greer to team as Goldman Sachs warns of tariff threat

2) A temporary ceasefire is under way between Israel and Hezbollah

3) A slew of economic reports awaits Wall Street ahead of Thanksgiving

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SPECIAL COVERAGE: Israel and Hezbollah Reach Ceasefire

Tue, 26 Nov 2024 21:55:31 +0000

Israel reached a deal for a 60-day cease-fire with the Lebanese militant group Hezbollah after weeks of talks mediated by the US, a first step toward ending a conflict that’s killed thousands of people. For reaction and analysis, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with Bloomberg National Security Team Leader Nick Wadhams and Bloomberg News Economy and Government reporter Galit Al

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Trump's Tariff Plans Roil Markets; Walmart Cuts Diversity Programs

Tue, 26 Nov 2024 10:40:25 +0000

On today's podcast:

1) Trump Roils Markets With Tariff Threat on China, Mexico, Canada

2) Walmart Cuts DEI Programs in Highest-Profile Company Retreat

3) Qualcomm’s Takeover Interest in Intel Is Said to Cool

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Markets Cheer Trump's Treasury Secretary Pick; Israel and Hezbollah Truce Talks

Mon, 25 Nov 2024 10:37:37 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Trump’s Treasury Pick Fuels Global Relief Rally Versus Dollar

2) GOP Senator Sees Many Queries for Trump’s Intelligence Pick

3) Israel and Hezbollah Close to Truce, Says Israel Envoy to US

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Daybreak Weekend: US PCE, CBI Conference, BOK Preview

Sat, 23 Nov 2024 10:00:00 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S GDP, and PCE data, and earnings from Macy’s.
In the UK – a preview of the CBI's annual conference.
In Asia – a look ahead to a meeting of the Bank of Korea and Trump-China trade.

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SPECIAL REPORT: Trump Nominates Scott Bessent To Lead US Treasury

Sat, 23 Nov 2024 00:39:34 +0000

President-elect Donald Trump said he is nominating Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury Secretary, enlisting a key adviser to manage the sweeping economic agenda he has vowed to enact in a second term. Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz offer instant reaction.

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Trump Picks Bondi After Gaetz Drops Out; Bitcoin Closes in on $100,000

Fri, 22 Nov 2024 11:00:50 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Trump Picks Pam Bondi for Attorney General After Gaetz Exit

2) Bitcoin Flirts With $100,000 on Optimism Over US Crypto Outlook

3) US Warns American Defense Firms of Russian Sabotage Threat

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Ukraine Says Russia Fires Missile; Nvidia Disappoints

Thu, 21 Nov 2024 10:34:16 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Ukraine Says Russia Used an ICBM as Conflict Ratchets Up Further

2) Nvidia Says New Chip on Track After Forecast Disappoints

3) Bitcoin Climbs Closer to $100,000 on Trump’s Support for Crypto

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Special Edition: Nvidia Forecast Misses Loftiest AI Estimates

Wed, 20 Nov 2024 22:46:01 +0000

Nvidia, the chipmaker at the heart of an artificial intelligence boom, delivered a revenue forecast that failed to meet the highest expectations, suggesting that the company’s dizzying growth run has its limits. For reaction and analysis, Businessweek hosts Carol Massar and Tim Stenovec speak with Bloomberg Technology cohost Caroline Hyde, Bloomberg Intelligence senior semiconductor analyst Kunjan Sobhani, Bloomberg News equities reporter Ryan Vlastelica and Bloomberg News earnings reporter Redd Brown

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Putin Reportedly Open to Truce Talks; Wall Street Awaits Nvidia Earnings

Wed, 20 Nov 2024 10:52:46 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Putin Open to Talks on Ukraine Truce With Trump, Reuters Reports

2) Trump’s Treasury Search Gains Steam With Fresh Round of Meetings

3) Stocks Rise With Focus on Nvidia

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Ukraine Strikes Russia; US Treasury Secretary Search

Tue, 19 Nov 2024 10:55:16 +0000

On today's podcast:

1) Ukraine hits Russia with US made missiles for the first time

2) Donald Trump may be getting closer to choosing a Treasury secretary

3) Ken Griffin and Ted Pick flag concerns about tariffs

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Treasury Secretary Uncertainty; Xi's Warning to Biden

Mon, 18 Nov 2024 10:58:23 +0000

On today's podcast:

1) President-elect Trump's decision on the next Treasury Secretary runs into disarray

2) Xi Jinping sends a message to the incoming president in his final meeting with President Biden

3) One Fed governor tells Bloomberg "there's a long way to go" with lowering rates

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The ROI Rules of AI: Marketing the Grammys With AI (Sponsored Content)

Sun, 17 Nov 2024 17:00:00 +0000

Everywhere you turn, there’s another headline about Artificial Intelligence. But how do companies make money with AI? We’re exploring how companies of all sizes are using AI to remake their operations, increasing their return on investment and that of their customers. This episode is sponsored by IBM.

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Daybreak Weekend: Nvidia Earnings, G20 Summit, PBOC Decision

Sat, 16 Nov 2024 10:00:00 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of Nvidia earnings and existing home sales.
In the UK – a preview of the upcoming G20 summit.
In Asia – a preview of the PBOC’s upcoming rate decision and also the G20 summit.

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Trump Picks RFK Jr. For Health Secretary; Traders Pare Back Fed Cut Bets

Fri, 15 Nov 2024 10:50:56 +0000

On today's podcast:
1) Trump Says No Dimon in Administration, Picks Kennedy for Cabinet
2) Stocks Slide as Fed Rate-Cut Bets Pared Back
3) NYC Congestion Pricing Plan With $9 Toll to Start in January

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Trump's Controversial Attorney General Pick; NYC Revives Congestion Pricing

Thu, 14 Nov 2024 10:55:36 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Trump Ally Gaetz Tapped for Attorney General, Resigns House Seat

2) Trump Wins Republican Trifecta as GOP Retains House Majority

3) Hochul Plans to Revive NYC Congestion Pricing Plan

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Musk Picked to Cut Government Spending; Inflation Report on Tap

Wed, 13 Nov 2024 10:38:29 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Trump Picks Musk, Ramaswamy for Government Efficiency Effort

2) Trump to Nominate Fox News Host Hegseth as His Defense Secretary

3) US CPI to Show Another Firm Reading

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Trump Picks Rubio as Secretary of State; Bitcoin Nears $90,000

Tue, 12 Nov 2024 10:33:45 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Trump Expected to Choose Marco Rubio as Next Secretary of State

2) Bitcoin Nears $90,000 as Crypto Market Exceeds Pandemic-Era Peak

3) Republicans Close to House Majority and Washington Trifecta

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Trump Picks ‘Border Czar’; Stocks, Bitcoin Hit All-Time Highs

Mon, 11 Nov 2024 10:49:19 +0000

On today's podcast:

1) Trump Picks Former Immigration Chief Homan as His ‘Border Czar’

2) Stocks Push Higher While Bitcoin Tops $81,000

3) Fed’s Kashkari Says Stronger Economy Could Mean Fewer Rate Cuts

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Daybreak Weekend: US CPI, Reeves Speech, Tencent Earnings

Sat, 09 Nov 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI data and earnings from Walt Disney.
In the UK – a preview of UK Chancellor Rachel Reeves speech in London.
In Asia – a look at the effects of Donald Trump's re-election on US-China relations, and a preview of Tencent earnings.

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Trump Cabinet Picks; House Control Narrowing for Democrats

Fri, 08 Nov 2024 10:54:16 +0000

On today's podcast:

1) Donald Trump makes history with his choice of his Chief of Staff

2) Race to control Congress continues while the GOP secures a key Pennsylvania win

3) Fed Chair Jay Powell says he's staying on the Job even if he's asked to step down

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Instant Reaction: Jay Powell on Fed Policy

Thu, 07 Nov 2024 21:14:36 +0000

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Instant Reaction: The Fed Decides

Thu, 07 Nov 2024 20:15:14 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance

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Harris Concedes, House Undecided; Historic Post-Election Rally

Thu, 07 Nov 2024 10:44:56 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Harris Concedes Election to Trump, Urges Fight for Ideals

2) S&P 500 Sees Best Post-Election Day in Its History

3) Trump Win Sparks Record $64 Billion Gain for World’s Richest

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Donald Trump Wins US Presidency; GOP Win Control of Senate

Wed, 06 Nov 2024 12:24:16 +0000

On Today's Podcast:

Donald Trump Wins US Presidency
Republicans Win Control of US Senate Ahead of Tax Fight

US House Is Democrats’ Last Hope in Brutal Election

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Election Day Arrives; Boeing Strike Ends

Tue, 05 Nov 2024 10:30:15 +0000

On today's podcast:

1) Harris, Trump Finish Historic Campaign With Dueling Rallies

2) Boeing Ends Crippling Strike as Workers Accept Latest Offer

3) Palantir Reports Record Profit, Cites ‘Unwavering’ AI Demand

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Listen Now: US Election Coverage on Bloomberg Podcasts

Mon, 04 Nov 2024 20:00:00 +0000

Be in the know this election with Bloomberg Podcasts. Follow Bloomberg News Now for up-to-the minute election results, all night long. And go deeper with The Big Take podcast, featuring in-depth global analysis of the US election every day this week.

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Trump-Harris Neck and Neck; Markets Move on Latest Polls

Mon, 04 Nov 2024 10:29:38 +0000

On today's podcast:

1) Harris, Trump Hit Battlegrounds as Polls Signal Tight Finish

2) ‘Trump Trade’ Doubts Drag on Dollar, Boosting US Treasuries

3) Oil Rises as OPEC+ Delays Output Hike and Iran Steps Up Rhetoric

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Daybreak Weekend: US Election Preview, BOE Decision, Japanese Autos

Sat, 02 Nov 2024 09:00:00 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - a presidential election preview and FOMC Meeting
In the UK - Bank of England decision preview
In Asia - Japanese autos earnings

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Amazon Surges While Apple Drops; Boeing Strike Deal

Fri, 01 Nov 2024 09:47:08 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Amazon Belt-Tightening Produces Strong Cloud, E-Commerce Results

2) Apple Disappoints Investors With Tepid Forecast, China Weakness

3) Boeing Union Endorses Latest Offer to End Crippling Strike

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Bloomberg Technology Special: Intel CEO Pat Gelsinger

Thu, 31 Oct 2024 23:23:33 +0000

On a special edition of Bloomberg Technology, host Ed Ludlow speaks with Intel CEO Pat Gelsinger after the company gave a fourth-quarter revenue forecast slight above estimates, leading to a spike in shares after hours.

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Instant Reaction: Intel and Apple Earnings Results

Thu, 31 Oct 2024 21:20:07 +0000

Intel shares surged after the company gave a fourth-quarter revenue forecast slightly above estimates, sparking optimism that it’s capable of reclaiming some lost market share. Apple reported weaker sales in China than anticipated last quarter, raising fresh concerns about one of its most important regions. For instant reaction and analysis to the latest big tech earnings drop, hosts Tim Stenovec and Emily Graffeo speak with Bloomberg Technology co-host Ed Ludlow.

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Dodgers Win World Series; Microsoft & Meta Shares Fall

Thu, 31 Oct 2024 09:39:24 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Dodgers Rally to Beat Yankees in Game 5, Win World Series Title

2) Microsoft Shares Drop on Disappointing Azure Growth Forecast

3) Trump its Biden on ‘Garbage’ Remark as Harris Distances Herself

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Instant Reaction: Microsoft, Meta Earnings Results

Wed, 30 Oct 2024 21:11:16 +0000

Microsoft's cloud-computing and Office software businesses fueled stronger-than-projected quarterly revenue growth, a sign that the company’s hefty investments in artificial intelligence are starting to pay off. Meanwhile, Meta Platforms projected stronger-than-expected holiday quarter sales, and touted AI improvements to its core advertising business. But it wasn’t enough to satisfy Wall Street. For instant reaction and analysis to these results, plus other tech earnings, hosts Tim Stenovec and Katie Greifeld speak with Bloomberg Intelligence senior technology analysts Mandeep Singh and Anurag Rana.

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Alphabet Rallies on AI Bet; Yankees Avoid Elimination

Wed, 30 Oct 2024 09:40:00 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Alphabet Set to Gain as Cloud, Search Fuel Strong Results

2) UBS Profit Beat Expectations as Bank Warns of US Vote Risks

3) Yankees Beat Dodgers on Volpe Slam to Avoid World Series Sweep

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Instant Reaction: Alphabet Beats Sales Estimates

Tue, 29 Oct 2024 20:59:21 +0000

Google parent Alphabet reported third-quarter sales that climbed more than analysts expected, helped by the growth of its cloud computing business. For instant reaction and analysis, hosts Carol Massar and Tim Stenovec spoke with Bloomberg Intelligence senior tech industry analyst Mandeep Singh and Bloomberg Technology co-host Caroline Hyde.

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Trump-Harris Make Final Pitches; Solomon on Economy & Presidential Race

Tue, 29 Oct 2024 09:56:48 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) The Trump-Harris race enters its final week with candidates making closing arguments

2) Bitcoin jumps as the election nears

3) Goldman Sachs CEO David Solomon discusses election and the US economy

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Trump Rally Shrouded by Incendiary Rhetoric; Israel Strikes Avoid Iranian Crude

Mon, 28 Oct 2024 09:49:05 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Trump’s High-Profile NYC Rally Shrouded by Incendiary Rhetoric

2) Oil Slumps 5% as Israel Limits Iran Strike to Military Targets

3) Boeing Plans Over $15 Billion Capital Hike as Soon as Monday

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Daybreak Weekend: US Jobs Preview, UK Diversity, BOJ Meeting

Sat, 26 Oct 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the October jobs report, and U.S tech earnings.
In the UK – a look at diversity and inclusion efforts in the UK’s financial services sector.
In Asia – a preview of Hong Kong’s FinTech week and a meeting of Bank of Japan officials.

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Harris-Trump Ramp Up Attacks; Musk-Putin Relationship

Fri, 25 Oct 2024 10:02:27 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:
1) Kamala Harris & Donald Trump Turn Up Rhetoric on Campaign Trail

2) Elon Musk Reportedly Keeping Contact with Vladimir Putin

3) Morgan Stanley Picks New Chairman to Succeed James Gorman

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Boeing Workers Reject Offer; Trump-Harris Locked in Dead Heat

Thu, 24 Oct 2024 09:56:58 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Boeing Workers Spurn Latest Offer as Bid to End Strike Fails

2) Two Weeks Out, Trump and Harris Are Locked in a Dead Heat

3) Tesla Delivers Blowout Quarter, Lays Out Bold Ambitions for 2025

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Instant Reaction: Tesla Earnings Surpass Expectations

Wed, 23 Oct 2024 20:50:59 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Tesla surpassed Wall Street estimates for earnings in the third quarter, reflecting a rebound in demand for the company’s electric vehicles.The EV maker also said it expects to achieve slight growth in vehicle deliveries for the full year. For instant reaction and analysis, hosts Tim Stenovec and Katie Greifeld speak with Gerber Kawasaki Wealth Management CEO Ross Gerber and Bloomberg Technology cohost Ed Ludlow.

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McDonald's Plummets on Deadly Outbreak; Harris-Trump Ramp Up Campaigns

Wed, 23 Oct 2024 09:41:36 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) McDonald's shares plunge after its Quarter Pounders are linked to E. Coli

2) Kamala Harris and Donald Trump talk up their economic plans on the campaign trail

3) Bank of America CEO Bryan Moynihan urges the Fed to not go too Hard on Rates

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Election Two Weeks Away; Bonds Sell-Off as Traders Rethink Cuts

Tue, 22 Oct 2024 09:39:35 +0000

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) Election Enters Final Two Weeks

2) Bonds Are Selling Off Everywhere as Traders Rethink Fed Pathway

3) Blinken's 11th Attempt to Reach a Mideast Cease-Fire

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Israel's Next Move After Attempt on Netanyahu; Stocks at Record

Mon, 21 Oct 2024 09:37:55 +0000

On today's podcast:

1) Israel Hones Plans to Attack Iran After Attempt on Netanyahu

2) Stocks Pause Gains With Focus on Busy Results Week

3) Treasury 10-Year Yields May Hit 5% in Six Months, T. Rowe Says

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Daybreak Weekend: Boeing Earnings, UK Banks, BRICS Summit

Sat, 19 Oct 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of Boeing and UPS earnings.
In the UK – a look ahead to UK bank earnings.
In Asia – a preview of next week's BRICS Summit in Russia.

See omnystudio.com/listener for privacy information.

Harris Calls for Peace in Middle East; Netflix Earnings Beat

Fri, 18 Oct 2024 09:52:55 +0000

On today's podcast:
1) The U.S. pushes for a cease fire in Gaza after Israel kills the leader of Hamas

2) Netflix surges after another blowout quarter from the streaming giant

3) Sales of Apple's Iphone 16 Soar in China

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Instant Reaction: Netflix Records Another Strong Quarter

Thu, 17 Oct 2024 20:50:02 +0000

Netflix added more than 5 million customers in the third quarter, and eclipsed Wall Street’s expectations on every major financial metric despite a new programming slate constrained by last year’s strikes in Hollywood. For instant reaction and analysis, hosts Tim Stenovec and Molly Smith spoke with Dan Morgan, senior portfolio manager at Synovus Trust.

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Harris Vows to Be Different Than Biden; Trump Courts Latino Voters

Thu, 17 Oct 2024 09:37:41 +0000

On today's podcast:

1) Harris Vows to Be Different Than Biden in Fiery Fox Interview

2) Trump Courts Latino Voters In a Univision Town Hall

3) US Stealth Bombers Strike Houthi Weapons Sites in Yemen

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Trump Defends Tariff Plan in Bloomberg Interview; Chip Stocks Walloped

Wed, 16 Oct 2024 09:47:34 +0000

On today's podcast:

1) Trump Defends Tariff Plan While Pressing for More Fed Influence

2) Global Chip Stocks Erase $420 Billion After ASML Sales Warning

3) US Warns Israel Must Improve Gaza Aid to Keep Getting US Weapons

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US Weighs Capping Nvidia Sales; Israel's Retaliation Plan

Tue, 15 Oct 2024 09:42:55 +0000

On today's podcast:

1) US Weighs Capping Nvidia, AMD AI Chip Sales to Some Countries

2) Goldman, Citigroup and Bank of America Report Earnings

3) Israel Weighs US Warnings Against Striking Iran Energy Sites

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Harris & Trump Rally Support; Israel Struck by Hezbollah

Mon, 14 Oct 2024 09:47:05 +0000

On today's podcast:
1) Kamala Harris & Donald Trump seek support from key voters ahead of election day

2) Israel's hit by one of the deadliest strikes since October 7th

3) SpaceX takes a major step towards landing on Mars

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Netflix Earnings, ECB Preview, TSMC

Sat, 12 Oct 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S Retail sales and Netflix earnings.
In the UK – a preview of next week’s ECB meeting.
In Asia - a look ahead to China trade data and TSMC earnings.

See omnystudio.com/listener for privacy information.

Instant Reaction: Boeing Cuts Workforce By 10%

Fri, 11 Oct 2024 21:21:58 +0000

Boeing plans to cut its workforce by about 10%, as the planemaker faces a drawn-out strike by workers and a worsening cash crunch. Hosts Matt Miller and Katie Greifeld discuss with Bloomberg Intelligence senior aerospace and airlines analyst George Ferguson.

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Tesla Slides After Cybercab Unveil; Bank Earnings Kick Off

Fri, 11 Oct 2024 09:35:55 +0000

On today's podcast:

1) Musk Unveils Tesla Cybercab, Seeing Production as Soon as 2026

2) JPMorgan Chase and Wells Fargo Report Earnings

3) Milton’s Surprise Was the Damage Unleashed by Powerful Winds

See omnystudio.com/listener for privacy information.

Hurricane Milton Hits Florida; Biden on Israel's Looming Retaliation

Thu, 10 Oct 2024 09:47:32 +0000

On today's podcast:

1) Hurricane Milton Rips Across Central Florida and Leaves Millions without Power

2) President Biden Tries to Sway Israel in First Call in Weeks with Prime Minister Netanyahu

3) The S&P Notches Another Record ahead of CPI

See omnystudio.com/listener for privacy information.

Hurricane Heads Toward Florida; U.S. Weighs Google Breakup

Wed, 09 Oct 2024 09:51:44 +0000

On today's podcast:

1) Hurricane Milton Tracks Toward Florida as Category 5

2) US Weighs Google Breakup as Remedy in Historic Antitrust Case

3) Boeing Withdraws Contract Offer as Union Talks Break Dow

See omnystudio.com/listener for privacy information.

Florida Braces for Hurricane Milton; Middle East Latest

Tue, 08 Oct 2024 09:37:22 +0000

On today's podcast:

1) Harris and Trump Mark Anniversary of Attack on Israel

2) Hurricane Milton Barrels Toward Florida With 155 MPH Winds

3) China Vows to Hit Economic Goals, Stops Short of Large Stimulus

See omnystudio.com/listener for privacy information.

Israel Ramps Up Strikes a Year After Hamas Attacks; Key US Yields Near 4%

Mon, 07 Oct 2024 09:52:23 +0000

On today's podcast:

1) Israel Ramps Up Gaza, Lebanon Strikes a Year After Hamas Attacks

2) Harris Says US Will Keep Pressing Israel for Gaza Cease-Fire

3) Key US Yields Near 4% for First Time Since August on Fed Rethink

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US CPI Preview, Nobel Prizes, Ishiba Agenda

Sat, 05 Oct 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI and PPI data, along with bank earnings.
In the UK – a look ahead to the 2024 Nobel Prize selection.
In Asia – a look ahead to what’s next for Japan, after its ruling party picked Shigeru Ishiba as its new leader.

See omnystudio.com/listener for privacy information.

Dockworkers Suspend Strike; Investors Await Key Jobs Report

Fri, 04 Oct 2024 09:47:58 +0000

On today's podcast:

1) US Dockworkers Suspend Three-Day Strike After Contract Extension

2) Israel Stages Massive Beirut Strikes Targeting Hezbollah Leaders

3) Investors Await Jobs Report

See omnystudio.com/listener for privacy information.

Instant Reaction: US Dockworkers Suspend Strike

Thu, 03 Oct 2024 23:31:04 +0000

Dockworkers at US East and Gulf coast ports agreed to start moving cargo again while they continue collective bargaining with their employers on a new contract. For instant reaction and analysis, host Doug Krizner spoke with Bloomberg managing editor for US economic policy Kate Davidson.

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Israel Weighs Response to Iran; OpenAI's Historic Funding Round

Thu, 03 Oct 2024 09:41:54 +0000

On today's podcast:

1) President Biden aims to reign in Israel's response to Iran's missile barrage

2) The Justice Department argues Donald Trump should face prosecution for his efforts to overturn the 2020 election

3) Open AI becomes the world's third most valuable start up

See omnystudio.com/listener for privacy information.

Israel Vows Retaliation for Iran Attack; VP Debate Reaction

Wed, 02 Oct 2024 09:48:39 +0000

On today's podcast:

1) Israel Vows Retaliation for Massive Iranian Missile Attack

2) Vance Softens Tone as Walz Seizes on Election Claims at Debate

3) Nike Seeks to Wipe Slate Clean for New CEO, Withdraws Guidance

See omnystudio.com/listener for privacy information.

Instant Reaction: Vice Presidential Debate

Wed, 02 Oct 2024 03:38:44 +0000

Ohio Senator and Trump running mate JD Vance faced off with Minnesota Governor and Harris VP pick Tim Walz for the first Vice Presidential debate - and possibly the last debate of the 2024 election cycle.

The candidates touched on key topics such as foreign policy, climate change, and immigration. Walz opened with sharp criticism toward Donald Trump, noting that many of the former president’s own aides had questioned the Republican presidential candidate’s suitability for office. Vance repeatedly targeted Democratic presidential nominee Kamala Harris, suggesting she should have done more over the past four years to address chaos abroad and a struggling economy.

For instant reaction and analysis, Bloomberg Balance of Power co-hosts Joe Mathieu and Kailey Leinz speak with Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino.

See omnystudio.com/listener for privacy information.

Dockworkers Strike Shuts East & Gulf Ports; VP Debate Tonight

Tue, 01 Oct 2024 09:44:21 +0000

On today's podcast:

1) Strike Shuts US East Coast, Gulf Ports for First Time Since 1977

2) Vance, Walz Set to Spar in VP Debate

3) Israeli Troops Move Into Lebanon, Extending Fight With Hezbollah

See omnystudio.com/listener for privacy information.

Middle East Braces For Iran's Next Move; Countdown to VP Debate

Mon, 30 Sep 2024 09:42:09 +0000

On today's podcast:

1) Middle East Braces for Iran’s Next Move After Nasrallah Killing

2) Vance, Walz Set to Spar in VP Debate

3) US Eastern Ports Prepare to Close With Labor Talks Stalled

See omnystudio.com/listener for privacy information.

Security, Bookmarked: Manufacturing (Sponsored Content)

Sun, 29 Sep 2024 00:00:00 +0000

A chemical manufacturing company grinds to a halt when a cyberattack locks up their entire assembly line. Kurtis Minder, a renowned ransomware negotiator, answers their call for help and explains why manufacturing companies are uniquely vulnerable to these kinds of disruptive attacks. Then David Adrian from Chrome chats with Kate about how a web-focused strategy can help manufacturers transform what are commonly thought of as massive vulnerabilities into secured points of access and visibility.

This episode is sponsored by Chrome Enterprise.

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US Jobs Preview, France Pressure, Golden Week

Sat, 28 Sep 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the September jobs report and the Vice Presidential debate.
In the UK – a look at some of the challenges France’s new government will face.
In Asia – a look ahead to China’s Golden Week.

See omnystudio.com/listener for privacy information.

Harris's Razor Thin Swing State Lead; NYC Mayor Defiant Against Charges

Fri, 27 Sep 2024 09:32:13 +0000

On today's podcast:

1) Harris Holds Razor-Thin Swing-State Lead in Tight Race

2) NYC Mayor Was Corrupt for Years, US Claims in Scathing Case

3) Stocks Rally Pauses Before PCE Data

See omnystudio.com/listener for privacy information.

NYC Mayor Eric Adams Indicted; Lebanon Truce Plan Proposal

Thu, 26 Sep 2024 09:31:21 +0000

On today's podcast:

1) NYC Mayor Eric Adams Indicted After Federal Corruption Probe

2) US and Allies Race to Stop Unfolding Lebanon War With Truce Plan

3) Congress Averts Government Shutdown With Temporary Funding Bill

See omnystudio.com/listener for privacy information.

Hezbollah Fires Missile at Tel Aviv; Buffett Unloads More Stock

Wed, 25 Sep 2024 09:40:49 +0000

On today's podcast:

1) Israel Intercepts Hezbollah Missile Fired at Tel Aviv

2) Buffett Whittles BofA Stake to 10.5% With $863 Million Disposal

3) US Investigating SAP, Carahsoft for Potential Price-Fixing

See omnystudio.com/listener for privacy information.

Instant Reaction: Caroline Ellison Sentenced in FTX Case

Tue, 24 Sep 2024 20:48:17 +0000

Caroline Ellison was sentenced to 24 months in prison and ordered to forfeit $11 billion by a federal judge for her role in the FTX collapse, despite helping prosecutors in the conviction of Sam Bankman-Fried, her former boss and boyfriend. For instant reaction, hosts Carol Massar and Stephen Carroll speak with Bloomberg Law host June Grasso.

See omnystudio.com/listener for privacy information.

Stocks in China Surge on New Stimulus; Tensions Escalate in Middle East

Tue, 24 Sep 2024 09:36:03 +0000

On today's podcast:

1) China Unleashes Stimulus Package to Revive Economy, Markets

2) Israel Airstrikes on Lebanon Kill Hundreds in Major Escalation

3) Visa Faces Justice Department Antitrust Case on Debit Cards

See omnystudio.com/listener for privacy information.

Deal Reached to Avert Government Shutdown; Trump-Harris Economy Battle

Mon, 23 Sep 2024 09:46:28 +0000

On today's podcast:

1) US Congress Unveils Stopgap Spending Deal to Avert Shutdown

2) Trump, Harris to Turbocharge Economic Pitches

3) Apollo Is Said to Offer Multibillion-Dollar Investment in Intel

See omnystudio.com/listener for privacy information.

Daybreak Weekend: New Inflation Data, Party Conferences, Elections in Japan

Sat, 21 Sep 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US: We preview PCE inflation data

In the UK: We're looking ahead to one of the most pivotal periods on the political calendar

In Asia: We take a look at the Liberal Democratic Party presidential election

See omnystudio.com/listener for privacy information.

Stocks at All-Time High; FedEx Does Not Deliver

Fri, 20 Sep 2024 09:35:02 +0000

On today's podcast:

1) US Stocks Hit Fresh Record Buoyed by Economic Hopes

2) FedEx Slumps on Quarterly Profit Miss, Softer 2025 Outlook

3) Buffett’s Remaining $34 Billion BofA Stake Is Now Pure Profit

See omnystudio.com/listener for privacy information.

Markets Rally on Big Fed Cut; Israel Sees ‘New Phase’ in War

Thu, 19 Sep 2024 09:39:08 +0000

On today's podcast:

1) Stocks Rally Gathers Pace After Fed’s Big Rate Cut

2) Israel Sees ‘New Phase’ in Regional War After Lebanon Blasts

3) Trump to Visit Springfield, Town at Center of Pet-Eating Claims

4) Yankees Beat Mariners to Clinch Playoff Berth

See omnystudio.com/listener for privacy information.

Instant Reaction: Jerome Powell Defends 50 Point Rate Cut

Wed, 18 Sep 2024 20:17:16 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's decision to cut rates 50-basis-points on a special edition of Bloomberg Surveillance

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Instant Reaction: The Fed Cuts Rates 50-Basis-Points

Wed, 18 Sep 2024 18:57:38 +0000

Bloomberg’s Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve’s decision to cut rates 50-basis-points on a special edition of Bloomberg Surveillance

See omnystudio.com/listener for privacy information.

Countdown to Big Fed Decision; Tupperware Files for Bankruptcy

Wed, 18 Sep 2024 09:42:47 +0000

On today's podcast:

1) Stocks Waver in Face of Debate on Size of Fed Cut

2) Tupperware Files for Bankruptcy as Turnaround Effort Fails

3) Trump Pledges to Restore SALT Write-Off

See omnystudio.com/listener for privacy information.

Fed Rate Debate Reaches Fever Pitch; Intel to Make Chips for Amazon

Tue, 17 Sep 2024 09:57:41 +0000

On today's podcast:

1) Stocks Rise With Data in Focus Before Fed

2) Intel to Make Custom AI Chip for Amazon

3) Harris Leads Trump in Pennsylvania: USA Today Poll

4) Falcons beat Eagles 22-21 on Monday Night Football

See omnystudio.com/listener for privacy information.

Trump Responds to Second Apparent Attempt on Life; Fed Readies to Cut

Mon, 16 Sep 2024 09:35:32 +0000

On today's podcast:

1) A second apparent attempt on Donald Trump's life adds a new twist to the presidential race

2) Investors turn their focus on the Fed, with a long-awaited rate cut expected this week

3) Calls for stimulus grow in China amid a deepening slowdown

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Fed Meeting, Eurozone Data, BOJ Decision

Sat, 14 Sep 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s Fed meeting and FedEx earnings.
In the UK – a preview of Eurozone data.
In Asia – a look at next week’s BOJ decision and TOKEN2049 Summit .

See omnystudio.com/listener for privacy information.

Boeing Workers Walk Out; Trump Says No More Debates

Fri, 13 Sep 2024 09:59:26 +0000

On today's podcast:

1) Boeing’s Seattle Workers Walk Out in First Strike Since 200

2) Trump Rules Out More Presidential Debates With Harris

3) Dudley Sees Case for Half-Point Fed Rate Cut Next Week

See omnystudio.com/listener for privacy information.

SpaceX's Historic Spacewalk; Trump Reluctant to Debate Harris

Thu, 12 Sep 2024 09:49:30 +0000

On today's podcast:

1) SpaceX Attempts the First Ever Privately-Funded Spacewalk

2) Donald Trump Says He Might Not Want Another Debate with Kamala Harris

3) Global Stocks in Rally Mode Ahead of Another Key Inflation Reading

See omnystudio.com/listener for privacy information.

Trump-Harris Spar on Debate Stage; Taylor Swift Endorses Harris

Wed, 11 Sep 2024 09:53:58 +0000

On today's podcast:

1) Harris Has Trump On Defense in Sharp-Elbowed Presidential Debate

2) Taylor Swift Endorses Harris for President After Debate

3) US Two-Year Yield Falls to Lowest Since 2022 Ahead of CPI Report

See omnystudio.com/listener for privacy information.

Instant Reaction: Trump and Harris Debate

Wed, 11 Sep 2024 03:33:07 +0000

Democrat Kamala Harris and Republican Donald Trump sparred through their first debate, with the former president often on the defensive over abortion rights, the January 6 insurrection and on foreign policy. The debate also saw Harris draw from her past as a prosecutor, while peppering in lines that appeared designed to needle Trump, including taunting the size of his rally crowds.

For instant reaction and analysis, Bloomberg Balance of Power co-hosts Joe Mathieu and Kailey Leinz speak with Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino, plus hear live reaction from Philadelphia with Bloomberg Big Take host David Gura.

See omnystudio.com/listener for privacy information.

Presidential Debate Preview; Apple Loses Irish Tax Bill Case

Tue, 10 Sep 2024 09:36:46 +0000

On today's podcast:

1) Presidential Debate Tonight

2) Apple Loses EU Top Court Case Over $14 Billion Tax Bill

3) Biggest US Bank Capital Hike Chopped in Half in Latest Plan

See omnystudio.com/listener for privacy information.

Apple's New iPhone, Presidential Debate Preview

Mon, 09 Sep 2024 09:54:32 +0000

On today's podcast:

1) Apple Unveils New iPhone
2) Stocks, US Futures Start Week With Modest Rebound
3) Trump and Harris Neck-and-Neck in the Latest National Poll.

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US CPI, ECB Decision, Apple Product Launch

Sat, 07 Sep 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Guest-Host John Tucker takes a look at some of the stories we'll be tracking in the coming week.

In the US - a preview of U.S CPI data and next week’s Presidential debate.
In the UK – a look at next week’s ECB meeting.
In Asia - a look at Apple’s major product launch.

See omnystudio.com/listener for privacy information.

Instant Reaction: US Job Growth Falls Short, Sets Up Fed Pivot

Fri, 06 Sep 2024 13:28:24 +0000

The US hiring fell short of forecasts in August after downward revisions to the prior two months. The data are likely to fuel speculation that the Federal Reserve will deploy a big rate cut in September. Bloomberg's Tom Keene and Paul Sweeney get analysis on the numbers from Renaissance Macro Research Head of US Economic Research Neil Dutta, New Century Advisors Chief Economist Claudia Sahm, Moody's Analytics Chief Economist Mark Zandi, and Bradesco BBI Head of Equity Strategy Ben Laidler.

See omnystudio.com/listener for privacy information.

Wall Street Braces for Jobs Report, Buffett Sells More BofA

Fri, 06 Sep 2024 09:52:21 +0000

On today's podcast:

1) US Stock Futures Fall as Traders Brace for Jobs

2) Warren Buffett’s Haul From BofA Stock Sales Nears $7 Billion

3) Paulson Sees Fed Cutting Rates to as Low as 2.5% by End of 2025

See omnystudio.com/listener for privacy information.

Harris' Capital Gains Plan, Biden Plans to Block US Steel Takeover

Thu, 05 Sep 2024 09:35:37 +0000

On today's podcast:

1) Harris Pushes 28% Capital Gains Tax Rate on $1 Million Earners

2) Biden to Block Nippon Steel’s Proposed Takeover of US Steel

3) Stocks Pause Days of Losses Ahead of US Jobs Data

See omnystudio.com/listener for privacy information.

Nvidia Probe Follows Historic Selloff, Global Stocks Tumble

Wed, 04 Sep 2024 09:41:33 +0000

On today's podcast:

1) Nvidia Antitrust Probe Escalates, Worsening $279 Billion Selloff

2) Global Stocks Tumble as Flight From Risk Persists

3) US Announces Criminal Charges Against Senior Hamas Leaders

See omnystudio.com/listener for privacy information.

Israel Hostage Latest; Jobs Report Friday

Tue, 03 Sep 2024 09:42:23 +0000

On today's podcast:
1) Israeli Prime Minister Benjamin Netanyahu Promises to Keep its Fight with Hamas after Hostage Murders

2) Kamala Harris Hits the Campaign Trail with a Promise to Pennsylvania Steelworkers

3) Markets Prepare for a Key Labor Market Reading this Week

See omnystudio.com/listener for privacy information.

Daybreak Holiday: Jobs, Bitcoin and Markets

Mon, 02 Sep 2024 09:00:00 +0000

In this Labor Day special edition of Bloomberg Daybreak with Nathan Hager:

Bloomberg's Michael McKee and Anna Wong preview the August jobs report
Bloomberg's Mike McGlone looks at the biggest stories in the commodities sector
NewEdge Wealth's Cameron Dawson gives her market outlook for the rest of 2024

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US Jobs, UK Parliament Challenges, Taiwan SEMICON

Sat, 31 Aug 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the August jobs report in the U.S, and earnings from Hewlett Packard Enterprise.
In the UK - a look at the challenges facing the UK's government as parliament returns from its summer break.
In Asia – a preview of Taiwan's SEMICON summit.

See omnystudio.com/listener for privacy information.

Latest Trump-Harris Poll; Traders Ready for PCE

Fri, 30 Aug 2024 09:39:12 +0000

On today's podcast:

1) A new Bloomberg News/Morning Consult poll shows sustained momentum for Kamala Harris' presidential campaign

2) Traders are closely watching the Fed's favored inflation gauge

3) Intel weighs splitting its businesses in a bid to stem losses

See omnystudio.com/listener for privacy information.

Nvidia Shares Tumble; Exclusive Nvidia CEO Interview

Thu, 29 Aug 2024 09:51:46 +0000

On today's podcast:

1) Nvidia Tumbles on Disappointing Forecast, Blackwell Chip Snags

2) Nvidia’s CEO Says New Chip Will Have ‘Lots and Lots’ of Supply

3) Sullivan, Xi Hold First Talks to Steady Ties Before US Election

See omnystudio.com/listener for privacy information.

Bloomberg Technology Special: Nvidia CEO Jensen Huang

Wed, 28 Aug 2024 23:44:25 +0000

In a special edition of Bloomberg Technology, host Ed Ludlow speaks with Nvidia CEO Jensen Huang to discuss the company's latest quarterly report that fell short of investor's lofty expectations.

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Instant Reaction: Nvidia Sales Forecast Falls Short

Wed, 28 Aug 2024 21:11:37 +0000

Nvidia, the chipmaker at the heart of the artificial intelligence boom, gave a revenue forecast that fell short of some of the most optimistic estimates, stoking concerns that its explosive growth is waning. Bloomberg Businessweek hosts Carol Massar and Tim Stenovec talk with Bloomberg Technology co-host Ed Ludlow and Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani for instant reaction and analysis for Nvidia's earnings results.

See omnystudio.com/listener for privacy information.

Global Markets Await Nvidia; Buffett Dumps More BofA Shares

Wed, 28 Aug 2024 09:49:48 +0000

On today's podcast:

1) Nvidia Countdown Keeps Stocks in Narrow Ranges: Markets Wrap

2) Warren Buffett Sells More BofA Shares, Reaping $982 Million

3) HSBC Mulls Cutting Management Layers in Sweeping Overhaul

See omnystudio.com/listener for privacy information.

Instant Reaction: Trump Special Counsel New Indictment

Tue, 27 Aug 2024 22:05:09 +0000

The US special counsel investigating former President Donald Trump files an updated indictment that removes several pages of allegations following the Supreme Court's presidential immunity ruling.

For instant analysis, Bloomberg Businessweek hosts Carol Massar and Tim Stenovec speak with Bloomberg legal reporter Erik Larson.

See omnystudio.com/listener for privacy information.

Fed Rate Cut Chorus Grows; Skydance Set to Win Paramount

Tue, 27 Aug 2024 09:52:58 +0000

On today's podcast:

1) Fed’s Daly Agrees With Powell’s View It’s Time to Cut Rates

2) Apple’s Maestri to Hand Off CFO Job, Move to Smaller Role

3) Skydance Set to Seal Paramount Merger After Bronfman Drops Out

See omnystudio.com/listener for privacy information.

Israel Strikes Hezbollah; Traders Price-in Powell Pivot

Mon, 26 Aug 2024 09:52:23 +0000

On today's podcast:
1) Middle East tensions rise with Israel launching a weekend strike against Hezbollah

2) Powell's pivot leaves investors debating the size and path of rate cuts

3) Boeing is snubbed for SpaceX as it looks to bring astronauts home

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Nvidia Preview, Germany’s Economy, Japan’s Next Leader

Sat, 24 Aug 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S GDP and Core PCE data, and Nvidia earnings.
In the UK – a look at the weakness in Germany’s economy.
In Asia – a look at Japan’s leadership election.

Edward Harrison, Bloomberg Senior Editor and the author of "The Everything Risk" newsletter
Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst
Oliver Crook, Bloomberg's Germany Correspondent
Isabel Reynolds, Bloomberg Tokyo Bureau Chief

See omnystudio.com/listener for privacy information.

A Bloomberg Surveillance Jackson Hole Special

Fri, 23 Aug 2024 15:56:51 +0000

Bloomberg's Surveillance hosts Tom Keene and Lisa Abramowicz head out to Wyoming for the Fed's Jackson Hole Symposium.They speak with some of the biggest names in Central Banking, including:

Raphael Bostic, Atlanta Fed President
Loretta Mester, Former Cleveland Fed President
James Bullard, Former St Louis Fed President
Thomas Hoenig, Former Kansas City Fed President
Patrick Harker, Philadelphia Fed President

See omnystudio.com/listener for privacy information.

VP Harris' Keynote Address at the DNC; Jay Powell to Speak in Wyoming

Fri, 23 Aug 2024 09:45:04 +0000

On today's podcast:
1) Kamala Harris accepts the Democratic Nomination in Chicago

2) Donald Trump Takes his Campaign to the Border

3) Traders look for Rate Cut Hints from Jay Powell at Jackson Hole

See omnystudio.com/listener for privacy information.

Instant Reaction: Harris Accepts Historic Nomination

Fri, 23 Aug 2024 03:42:04 +0000

Vice President Kamala Harris formally accepted the Democratic presidential nomination on Thursday, in a historic step that kicks off a three-month dash to Election Day.

Balance of Power co-hosts Joe Mathieu and Kailey Leinz speak to Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino for instant reaction and analysis of Kamala Harris' address to close out the Democratic National Convention in Chicago.

See omnystudio.com/listener for privacy information.

Tim Walz Speaks at the DNC; Traders Ready for Powell Speech

Thu, 22 Aug 2024 09:45:56 +0000

On today's podcast:
1) Tim Walz Pitches to Undecided Voters at the Democratic National Convention

2) Traders Hone in on Jackson Hole after Fed Minutes Reveal a Case for Rate Cuts

3) Disney Names a Top Banker to Lead its Succession Plan

See omnystudio.com/listener for privacy information.

Obamas Praise Harris and Jab Trump; Traders Ready for Jackson Hole

Wed, 21 Aug 2024 09:49:53 +0000

On today's podcast:

1) The Obamas Look to Energize the Base at the Second Night of the Democratic National Convention
2) Donald Trump Aims to Reframe his Campaign Message
3) Traders Search for More Clues on Rate Cuts Ahead of Jay Powell's Speech

See omnystudio.com/listener for privacy information.

Biden Speaks at DNC; Israel-Hamas Possible Deal

Tue, 20 Aug 2024 09:56:05 +0000

On today's podcast:
1) President Biden Passes the Torch to Kamala Harris at the DNC

2) The US Pressures Hamas to Accept a Ceasefire Proposal

3) Bank and Tech Executives are Missing in a Yacht Disaster

See omnystudio.com/listener for privacy information.

Investors Await Key Powell Speech; DNC Begins in Chicago

Mon, 19 Aug 2024 10:10:14 +0000

On today's podcast:

1) Stocks Steady as Traders Await Powell Speech

2) Trump, Harris Prepare for Turbocharged Week of Presidential Race

3) Goldman Cuts US Recession Risk Following Retail Sales, Jobs Data

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Jackson Hole Preview, UK Immigration, Tim Walz’s China History

Sat, 17 Aug 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s Jackson Hole Symposium and Target earnings.
In the UK – a look at the UK’s immigration dilemma.
In Asia – a look at Vice Presidential candidate Tim Walz’s relationship with China.

See omnystudio.com/listener for privacy information.

Stocks Rally on Resilient Economy; Harris Economic Plans

Fri, 16 Aug 2024 09:51:02 +0000

On today's podcast:

1) Data Boost Sets Up US Stocks for Best Week of Year

2) Carry Trade That Blew Up Markets Is Attracting Hedge Funds Again

3) Harris to Propose $25,000 Assistance for First-Time Homeowners

See omnystudio.com/listener for privacy information.

Stock Winning Streak Ahead of Key Data; Columbia Univ. President Resigns

Thu, 15 Aug 2024 09:53:08 +0000

On today's podcast:

1) Stocks Edge up With More Data Due After CPI Boost

2) Columbia President Shafik Resigns After Months of Campus Tumult

3) Harris Will Propose ‘Price Gouging’ Ban on Food and Groceries

See omnystudio.com/listener for privacy information.

Investors Brace for Key Inflation Data; Google Breakup?

Wed, 14 Aug 2024 09:44:01 +0000

On today's podcast:

1) Stocks Advance With All Eyes on US Inflation Data

2) Japan Set for a New Leader as Premier Kishida to Step Aside

3) DOJ Mulls Google Breakup Push After Landmark Antitrust Win

See omnystudio.com/listener for privacy information.

Highlights of Trump-Musk Conversation; Key Inflation Data

Tue, 13 Aug 2024 09:40:28 +0000

On today's podcast:

1) Musk Cozies Up to Trump in Glitchy Conversation on X Platform

2) US, Israel View an Attack by Iran as ‘Increasingly Likely’

3) Stocks Rise With US Futures Ahead of Price Data

See omnystudio.com/listener for privacy information.

Stocks Stable Ahead of Key Data; Biden on Why He Dropped Out

Mon, 12 Aug 2024 10:15:22 +0000

On today's podcast:

1) Stocks Stabilize as Traders Brace for Big Data Week

2) Biden Says He Dropped Out Due to Risk He’d Be ‘Distraction’

3) Musk to Interview Trump

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US CPI, Europe Summer, Japan GDP

Sat, 10 Aug 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI and Retail sales data, and a look at earnings from Walmart and Home Depot.
In the UK – a look at Europe’s sweltering summer.
In Asia – a look at Japan’s economy and a preview of GDP.

See omnystudio.com/listener for privacy information.

Stocks Rise in Volatile Week; Trump-Harris Debate Plans

Fri, 09 Aug 2024 09:44:27 +0000

On today's podcast:

1) Stocks Rise as Traders Await Next Batch of US Data

2) Fed’s Schmid Says ‘We Are Not Quite There’ in Cooling Inflation

3) Trump, Harris Agree to Debate as Republican Looks to Shift Race

See omnystudio.com/listener for privacy information.

Global Market Volatility; Harris & Walz Hit Campaign Trail

Thu, 08 Aug 2024 09:49:39 +0000

On today's podcast:

1) Stocks Resume Declines With Focus on US Jobs Data

2) JPMorgan Says Three Quarters of Global Carry Trades Now Unwound

3) Harris Rides Momentum in Midwest as Vance Eyes Air Force Two

See omnystudio.com/listener for privacy information.

Market Rebound; Harris VP Pick

Wed, 07 Aug 2024 09:45:30 +0000

On today's podcast:

1) Stocks Stabilizing after Monday Selloff

2) Goldman Sachs CEO Believes Fed Won't Make Emergency Rate Cut

3) Kamala Harris Looks to Energize Democrats with Tim Walz

See omnystudio.com/listener for privacy information.

Global Markets Stabilize; Harris Clinches Democratic Nomination

Tue, 06 Aug 2024 09:37:36 +0000

On today's podcast:

1) Stocks Rebound as Traders See ‘Normalcy’ Returning

2) Harris Clinches Democratic Nomination, Cementing Trump Matchup

3) Google Loses US Justice Department Antitrust Suit Over Search

See omnystudio.com/listener for privacy information.

Instant Reaction: Will the Fed Cut Quicker After This Selloff?

Mon, 05 Aug 2024 14:11:05 +0000

Global stock markets tumbled as concerns about a US economic slowdown intensified. Traders ramped up bets that the Federal Reserve will step in with an emergency interest rate cut. For instant reaction to this selloff, and how Fed officials will respond, Bloomberg's Nathan Hager speaks with Veronica Clark, US Economist at Citigroup.

See omnystudio.com/listener for privacy information.

Global Market Selloff Intensifies; Buffett Trims Apple Stake

Mon, 05 Aug 2024 09:39:56 +0000

On today's podcast:

1) Nasdaq Futures Sink as Global Stock Rout Deepens

2) Treasuries Surge as Traders Bet on Emergency Fed Rate Cut

3) Berkshire Cuts Apple Stake by Almost Half in Selling Spree

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Disney Earnings, Reeves to US, China Trade

Sat, 03 Aug 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of quarterly earnings from Walt Disney. Also a look at earnings from Uber and Lyft.
In the UK – a look ahead to a visit to the U.S by new UK Chancellor Rachel Reeves.
In Asia - a preview of Alibaba earnings and China trade data.

See omnystudio.com/listener for privacy information.

Big Tech Earnings Disappoint; US Jobs Report Preview

Fri, 02 Aug 2024 09:40:30 +0000

On today's podcast:

1) The Stock Selloff Around the World Intensifies Following Tech Earnings

2) Investors Await Key July Jobs Report

3) Three Americans Back on US Soil After Prisoner Exchange with Russia

See omnystudio.com/listener for privacy information.

Instant Reaction: Apple Earnings

Thu, 01 Aug 2024 21:48:46 +0000

Bloomberg's Carol Massar and Tim Stenovec report on Apple earnings for the third quarter

See omnystudio.com/listener for privacy information.

Instant Reaction: Intel and Amazon Earnings

Thu, 01 Aug 2024 21:24:43 +0000

Bloomberg's Carol Massar and Tim Stenovec report on Intel and Amazon.com earnings for the second quarter.

See omnystudio.com/listener for privacy information.

Hamas Leader Killed; Meta Rallies on Earnings

Thu, 01 Aug 2024 09:48:38 +0000

On today's podcast:

1) Israel Says It’s Confirmed Hamas Number Two Deif Was Killed

2) Meta’s Upbeat Earnings Buy Time for AI, Metaverse Bet to Pay Off

3) Fed On Course for September Rate Cut as Risks to Job Market Grow

See omnystudio.com/listener for privacy information.

Instant Reaction: Meta Reports Earnings

Wed, 31 Jul 2024 20:58:55 +0000

Bloomberg's Carol Massar and Tim Stenovec cover the latest earnings from Meta, the parent company of Facebook. They speak with Bloomberg News Contributor Jon Erlichman and Bloomberg News Social Media Reporter Aisha Counts.

See omnystudio.com/listener for privacy information.

Instant Reaction: Jay Powell Talks Fed Policy

Wed, 31 Jul 2024 20:39:43 +0000

Bloomberg's Tom Keene, Lisa Abramowicz and Jonathan Ferro cover the latest remarks from Federal Reserve Chair Jay Powell, following the central bank's latest policy decision.

See omnystudio.com/listener for privacy information.

Instant Reaction: The Fed Decides

Wed, 31 Jul 2024 19:40:11 +0000

Bloomberg's Tom Keene, Lisa Abramowicz, and Jonathan Ferro cover the Federal Reserve's latest policy decision.

See omnystudio.com/listener for privacy information.

Instant Reaction: Hamas Leader Assassinated in Iran

Wed, 31 Jul 2024 10:11:58 +0000

Hamas says Israel killed its political leader, Ismail Haniyeh, in an airstrike on Iran’s capital, putting the Middle East even further on edge. Bloomberg's Nathan Hager and Joumanna Bercetche break down the details.

See omnystudio.com/listener for privacy information.

Hamas Leader Killed; Harris Gains in Presidential Poll

Wed, 31 Jul 2024 09:35:35 +0000

On today's podcast:

1) Hamas Says Israel Killed Political Leader Haniyeh in Iran

2) Harris Wipes Out Trump’s Swing-State Lead in Election Dead Heat

3) Microsoft’s Azure Growth Slows, Testing Investors’ Patience

See omnystudio.com/listener for privacy information.

Instant Reaction: Microsoft, AMD Earnings

Tue, 30 Jul 2024 21:18:26 +0000

Bloomberg Businessweek breaks down earnings from Microsoft and AMD with Senior Portfolio Manager at Synovus Trust Dan Morgan and Bloomberg Technology Co-Host Ed Ludlow.

Hosts: Carol Massar and Tim Stenovec

See omnystudio.com/listener for privacy information.

Trump-Harris Debate; Buffett Trims Big Bank Stock

Tue, 30 Jul 2024 09:44:55 +0000

On today's podcast:

1) Trump Says He Will ‘Probably End Up’ Debating New Rival Harris

2) Buffett Cuts BofA Stake Again, Unloading $3 Billion This Month

3) Venezuela’s Opposition Says It Has Proof of Election Fraud

See omnystudio.com/listener for privacy information.

Harris Campaign Gains; Venezuela Election Latest

Mon, 29 Jul 2024 09:54:17 +0000

On today's podcast:
1) Kamala Harris Sees a Surge in Fundraising and at the Polls

2) Controversy Surrounds the Results of the Venezuelan Presidential Election

3) Israel Strikes Hezbollah After Weekend Rocket in the Golan Heights

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Fed Meeting, BOE Decision, Tech Earnings

Sat, 27 Jul 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s Fed meeting and jobs report in the U.S, along with tech earnings..
In the UK – a preview of next week’s Bank of England meeting.
In Asia – a look at earnings from tech companies Apple and Samsung.

See omnystudio.com/listener for privacy information.

Obama Endorses Harris; France Rail Sabotage

Fri, 26 Jul 2024 09:51:30 +0000

On today's podcast:
1) Barack and Michelle Obama Endorse VP Kamala Harris for President

2) Sabotage in France with a Massive Rail Disruption Ahead of the Olympic Opening Ceremonies

3) The Fed Waits for its Favored Inflation Read Ahead of Next Week's Meeting

See omnystudio.com/listener for privacy information.

Biden Passes Torch in Oval Office Speech; AI Selloff Goes Global

Thu, 25 Jul 2024 09:54:03 +0000

On today's podcast:

1) Biden Says Time for ‘Younger Voices’ in Oval Office Speech

2) Stocks Selloff Goes Global as Chipmakers Plunge: Markets Wrap

3) Ford Sinks as Warranty Costs Hit 2Q Profits

See omnystudio.com/listener for privacy information.

Harris Holds First Major Rally; Tesla, Alphabet & Deutsche Bank Fall on Earnings

Wed, 24 Jul 2024 10:03:23 +0000

On today's podcast:

1) Harris Uses First Major Rally to Push Policies for Families

2) Tesla Profit Shrinks as Musk Tethers Stock to Delayed Robotaxi

3) Deutsche Bank Scraps Buyback After First Loss in Four Years

See omnystudio.com/listener for privacy information.

Harris Has Enough Delegates to Clinch Nomination; Tesla and Alphabet Earnings

Tue, 23 Jul 2024 09:47:42 +0000

On today's podcast:

1) Harris Has Enough Delegates to Clinch Nomination for President

2) Alphabet and Tesla Set to Report Earnings

3) CrowdStrike’s CEO Called to Testify Before US House Committee

See omnystudio.com/listener for privacy information.

Biden Passes Torch to Harris; Market Reaction to Biden Quitting Race

Mon, 22 Jul 2024 09:48:52 +0000

On today's podcast:

1) Biden Passing Baton to Harris Upends American Politics

2) Harris Woos Democrat Faithful After Biden Bows Out

3) Dollar Slips as Biden Quits Race

See omnystudio.com/listener for privacy information.

Instant Reaction: President Biden Withdraws

Sun, 21 Jul 2024 22:54:04 +0000

Bloomberg's Tom Keene, David Gura and Joe Mathieu break down the latest news from Washington.

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Tesla Earnings, Paris Olympics, U.S Election

Sat, 20 Jul 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S GDP and Core PCE data, and a preview of Tesla earnings.
In the UK – a look ahead to the Paris Olympic Games.
In Asia – a look at how the U.S election will shape the U.S, China relationship.

See omnystudio.com/listener for privacy information.

Trump Delivers his RNC Speech; Calls Grow for Biden to Drop Out

Fri, 19 Jul 2024 10:08:01 +0000

On today's podcast:
1) Major Banks and Airlines Reported Technical Issues amid a Global Outage

2) Donald Trump Steps Back into the Spotlight at the Republican National Convention

3) Cracks Continue to Form in President Biden's Re-Election Bid

See omnystudio.com/listener for privacy information.

JD Vance's Acceptance Speech; Pressure Mounts on President Biden

Thu, 18 Jul 2024 09:32:55 +0000

On today's podcast:
1) JD Vance Calls Out Wall Street as he Accepts the Republican Nomination for Vice President

2) President Biden Comes Down with COVID as Top Democrats Ask him to Step Aside

3) A Fed Governor Says Rate Cuts Could Soon Come

See omnystudio.com/listener for privacy information.

One-Time Rivals Praise Trump at RNC; Trump Speaks to Bloomberg

Wed, 17 Jul 2024 09:41:00 +0000

On today's podcast:

1) Trump’s One-Time Rivals Praise Him in Orchestrated Show of Unity

2) Trump Security Tightened on Iran Plot Intel; No Link to Shooting

3) Big Take: Trump on His Plan for Taxes, Tariffs, the Fed and More

See omnystudio.com/listener for privacy information.

Trump Makes Grand Entrance at RNC; Taps Vance as Running Mate

Tue, 16 Jul 2024 10:26:50 +0000

On today's podcast:

1) Trump Makes Grand Entrance With Bandaged Ear After Shooting

2) Trump Taps Vance as Running Mate, Picking Populist Protege

3) Biden Says ‘Open Question’ If Secret Service Erred in Shooting

See omnystudio.com/listener for privacy information.

Biden Calls for Unity; Trump Trade Gains Momentum

Mon, 15 Jul 2024 09:46:59 +0000

On today's podcast:

1) Biden Urges Unity After Trump Wounded as Campaign Seeks Footing

2) Trump Called Nikki Haley Asking Primary Rival to Attend RNC

3) Wall Street Awaits Goldman Earnings

See omnystudio.com/listener for privacy information.

Surveillance Special: Trump Assassination Attempt

Sun, 14 Jul 2024 15:48:52 +0000

Bloomberg's Tom Keene and David Gura get reaction to the attempted assassination attempt of former President Donald Tump.

They speak with:

Hadriana Lowenkron, Bloomberg News reporter
Terry Haines, Pangea Policy founder
Jordan Fabian, Bloomberg News white house correspondent
Wendy Schiller, Director of the Taubman Center for American Politics and Policy, Brown University
Henrietta Treyz, Veda Partners managing partner
Rick Davis, Bloomberg politics contributor and partner at Stone Court Capital
Joe Mathieu, host of Bloomberg Balance of Power
Jeanne Sheehan Zaino, Bloomberg politics contributor and Iona University political science professor
Nancy Cook, Bloomberg News Senior national political correspondent
Greg Valliere, AGF Investments Chief U.S. Policy Strategist
Mick Mulroy, Lobo Institute co-founder
Jack Devine, Arkin Group President

See omnystudio.com/listener for privacy information.

INSTANT REACTION: Trump ‘Fine’ After Being Shot In Ear

Sun, 14 Jul 2024 02:55:56 +0000

Former President Donald Trump said he was shot in the right ear after gunfire erupted at his political rally in Butler, Pennsylvania. We get instant reaction with Bloomberg's Amy Morris.

See omnystudio.com/listener for privacy information.

US Retail Sales, Netflix Preview

Sat, 13 Jul 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S Retail sales and Netflix earnings.
In the UK – a look ahead to a meeting of the European Political Community.
In Asia – a preview of China’s Third Plenum meeting.

See omnystudio.com/listener for privacy information.

Biden Vows to Stay in Race Despite Gaffes; Bank Earnings

Fri, 12 Jul 2024 09:45:14 +0000

On today's podcast:

1) Biden Vows to Stay in 2024 Race Even as Gaffes Threaten Campaign

2) Wall Street Awaits Bank Earnings

3) Boeing Warns Customers of Further Delays on 737 Max Amid Crisis

See omnystudio.com/listener for privacy information.

Pressure Grows on Biden to Drop Out; Key Inflation Reading

Thu, 11 Jul 2024 09:48:52 +0000

On today's podcast:

1) Pressure on Biden Mounts as Senate Democrat Calls for New Ticket

2) Inflation Data to Bolster Case for Fed Rate Cut in September

3) Archegos’ Bill Hwang Convicted of Fraud, Market Manipulation

See omnystudio.com/listener for privacy information.

Democrats Shift Focus from Biden to Trump; Day 2 of Powell Testimony

Wed, 10 Jul 2024 09:39:26 +0000

On today's podcast:

1) Divided Democrats Blast Trump Agenda to Shift Biden Focus

2) Trump Teases Rubio at Miami Rally as VP Announcement Nears

3) Powell Flags Rising Risks to Jobs While Avoiding Rate-Cut Timing

See omnystudio.com/listener for privacy information.

New Questions about Biden's Health; Trump Soon to Pick VP

Tue, 09 Jul 2024 09:39:10 +0000

On today's podcast:
1) President Biden Gains Support from Progressives as Health Questions Mount

2) Donald Trump says He Plans to pick a Vice President in the Coming Week

3) Wall Street Enters the Day in Record Fashion with Jay Powell Congressional Testimony on Tap

See omnystudio.com/listener for privacy information.

More House Democrats Want Biden Out of Race, France in Limbo After Elections

Mon, 08 Jul 2024 10:06:12 +0000

On today's podcast:

1) More House Democrats Want Biden Out of Race as Tension Rises

2) France Dodges Far-Right Win But Macron Has No One to Govern

3) Boeing to Plead Guilty to Fraud for Violating Crashes Deal

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Archegos, UK Election, China Eco Data

Sat, 06 Jul 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week:

In the US – it's the start of earnings season and the Archegos trial goes to jury
In the UK – we look at the challenges facing new Prime Minster Keir Starmer
In Asia – we will preview China's trade and CPI/PPI data

See omnystudio.com/listener for privacy information.

Labour's Landslide Win, Biden's Make-or-Break Weekend

Fri, 05 Jul 2024 10:06:37 +0000

On today's podcast:

1) Starmer’s Labour Wins UK Election Landslide as Tory Vote Craters

2) Biden Heads Into Make-or-Break Weekend for 2024 Election

3) Global Stocks at a Record High Before US Jobs Dat

See omnystudio.com/listener for privacy information.

Holiday Special: Tech Trends with Ives and Munster

Wed, 03 Jul 2024 17:00:00 +0000

Bloomberg’s Nathan Hager looks at the biggest tech stories from 2024 and what we can expect for the rest of the year. He speaks with Gene Munster of Deepwater Asset Management and Dan Ives from Wedbush.

See omnystudio.com/listener for privacy information.

Stocks at All-Time Highs; Biden's Mental Fitness Questions Remain

Wed, 03 Jul 2024 09:55:21 +0000

On today's podcast:

1) European Stocks Rise, Buoyed by Record for S&P 500:

2) Biden Blames Travel for Poor Debate as He Looks to Calm a Revolt

3) Trump New York Sentencing Put Off to Sept. 18 Over Immunity

See omnystudio.com/listener for privacy information.

Presidential Immunity Ruling Reaction; Dems May Nominate Biden Early

Tue, 02 Jul 2024 09:48:54 +0000

On today's podcast:

1) Trump Immunity Ruling Means Any Trial Before Election Unlikely

2) Trump Seeks to Toss NY Felony Conviction After Immunity Win

3) Democrats Weigh Mid-July Vote to Formally Tap Biden as Nominee

See omnystudio.com/listener for privacy information.

Instant Reaction: Supreme Court Immunity Ruling

Mon, 01 Jul 2024 16:08:08 +0000

The US Supreme Court ruled that Donald Trump has some immunity from criminal charges for trying to reverse the 2020 election results, all but ensuring that a trial won’t happen before the November election. The justices, voting 6-3 along ideological lines, said a federal appeals court was too categorical in rejecting Trump’s immunity arguments, ruling for the first time that former presidents are shielded from prosecution for some official acts taken while in office. Bloomberg's Paul Sweeney and Alix Steel get instant reaction.

See omnystudio.com/listener for privacy information.

Stocks Surge After French Election; Biden Defies Calls to Quit

Mon, 01 Jul 2024 10:00:53 +0000

On today's podcast:

1) European Stocks and Euro Rally After French Vote

2) Biden Loyalists Dismiss Calls to Quit in Frenetic Weekend Blitz

3) Boeing to Buy Spirit Aero for $4.7 Billion in Stock Deal

See omnystudio.com/listener for privacy information.

Daybreak Weekend: U.S Jobs, UK Elections, Hong Kong Handover

Sat, 29 Jun 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Guest Host John Tucker takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the June jobs report.
In the UK – a look ahead to UK elections.
In Asia – a look ahead to the July 1st anniversary of the handover of Hong Kong to China from British colonial rule.

See omnystudio.com/listener for privacy information.

Biden’s Disastrous Debate; Key Inflation Reading

Fri, 28 Jun 2024 10:01:32 +0000

On today's podcast:

1) Biden’s Disastrous Debate Accelerates Doubts Over Candidacy

2) Fed's Preferred Inflation Gauge Set to Cool

3) Nike Tumbles on Sales Warning as Rival Adidas Pushes Ahead

See omnystudio.com/listener for privacy information.

Instant Reaction: 2024 CNN Presidential Debate

Fri, 28 Jun 2024 03:38:53 +0000

Bloomberg's Joe Mathieu and Kailey Leinz recap the first 2024 presidential debate between President Joe Biden and former President Donald Trump. They receive additional analysis from Bloomberg Correspondent David Gura, Republican Strategist and Stone Court Capital Partner Rick Davis and Democratic Strategist and ROKK Solutions Partner Kristen Hawn.

See omnystudio.com/listener for privacy information.

Biden-Trump Face Off in First Debate; Micron Slips on Earnings Miss

Thu, 27 Jun 2024 09:51:20 +0000

On today's podcast:
1) Looking Ahead to the Biden-Trump Debate Rematch

2) AI Mania Fails to Lift Micron

3) America's Biggest Banks Pass the Fed Stress Test

See omnystudio.com/listener for privacy information.

Bloomberg Exclusive: Supreme Court Abortion Ruling

Wed, 26 Jun 2024 17:36:02 +0000

The US Supreme Court is poised to allow abortions in medical emergencies in Idaho, according to a copy of the opinion that was briefly posted on the court’s website. Bloomberg Law obtained a copy of the opinion, which would reinstate a lower court order that had ensured hospitals in the state could perform emergency abortions to protect the health of the mother. Bloomberg Law Host June Grasso and Michigan Attorney General Dana Nessel explain the decision to Bloomberg's Kailey Leinz and Joe Mathieu.

See omnystudio.com/listener for privacy information.

Progressive Squad Member Loses NY Primary; FedEx Delivers

Wed, 26 Jun 2024 10:03:20 +0000

On today's podcast:

1) Latimer Defeats Bowman in Pricey NY Primary

2) Lauren Boebert wins Republican House Primary

3) FedEx Soars as Cost Cuts Drive Better-Than-Expected Forecast

See omnystudio.com/listener for privacy information.

Nvidia Selloff Latest; Wikileaks’ Assange Plead Deal

Tue, 25 Jun 2024 09:38:32 +0000

On today's podcast:

1) Nvidia’s 13% Stock Rout Has Traders Scouring Charts for Support

2) Wikileaks’ Assange to Plead Guilty, Ending US Legal Battle

3) Bowman, Boebert, Maloy Fight For Renomination

See omnystudio.com/listener for privacy information.

Investors Await Inflation Data; Biden-Trump Debate Preview

Mon, 24 Jun 2024 09:45:15 +0000

On today's podcast:

1) Stocks Fluctuate as Traders Await Inflation Cues

2) Trump-Biden Race’s Biggest Crapshoot

3) US Prosecutors Recommend DOJ Criminally Charge Boeing: Reuters

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US Eco Preview, Iran Election, US-China Relations

Sat, 22 Jun 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S GDP, PCE data.
In the UK – a look ahead to Iran’s Presidential election.
In Asia – a discussion on the first 2024 U.S Presidential debate and how the U.S-China relationship will gain attention.

See omnystudio.com/listener for privacy information.

Investors Brace for Triple-Witching; Trump Beats Biden in Fundraising

Fri, 21 Jun 2024 09:52:52 +0000

On today's podcast:

1) Wall Street’s $5.5 Trillion Triple-Witching to Test Market

2) Trump Outraises Biden in May

3) Citigroup’s Living Will Plan Is Found to Be Deficient by FDIC

See omnystudio.com/listener for privacy information.

European Policy Decisions; Bank Jobs Hit by AI

Thu, 20 Jun 2024 09:36:52 +0000

On today's podcast:

1) BOE Decision on Tap and SNB Cuts Rate Again

2) Half of All Banking Jobs May Be Replaced by AI, Citigroup Says

3) China Has No Favorite in Biden-Trump Race

See omnystudio.com/listener for privacy information.

Daybreak Holiday: Oil, Retail, Antitrust

Wed, 19 Jun 2024 09:00:00 +0000

In this Juneteenth Holiday Edition of Bloomberg Daybreak:

Stephen Schork, founder of the Schork Group, talks about how a heatwave impacts the price of oil.
Burt Flickinger, Strategic Resource Group managing director and Poonam Goyal of Bloomberg Intelligence discuss the state of retail as we head into the summer
Plus, Bloomberg Intelligence analyst Jen Rie joins to talk all things antitrust

Hosted by Nathan Hager

See omnystudio.com/listener for privacy information.

Stocks at Record Highs; Tik Tok's Plan to Void Ban

Tue, 18 Jun 2024 09:46:06 +0000

On today's podcast:

1) European Stocks Rise After US and Asia Tech Rally

2) Biden to Offer Legal Status to Undocumented Spouses of Citizens

3) TikTok’s Bid to Void Ban Tests Secrecy of Lawmakers’ Briefings

See omnystudio.com/listener for privacy information.

Traders Follow Political Uncertainty; Americans Lament Trump-Biden Rematch

Mon, 17 Jun 2024 09:51:19 +0000

On today's podcast:
1) Markets Remain on Edge Amid Political Turmoil in Europe

2) Double Hater Voters Express Dismay Over The 2024 Election

3) The Eastern Part of the US Readies for its First Potent Heat Wave of the Year

See omnystudio.com/listener for privacy information.

Daybreak Weekend: U.S Retail Sales, BOE Meeting, China Data Dump

Sat, 15 Jun 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look ahead to U.S Retail Sales, and Housing data.
In the UK – a preview of next week’s Bank of England meeting.
In Asia – a look ahead to a slew of Chinese eco activity data.

See omnystudio.com/listener for privacy information.

G-7 Puts Pressure on Russia; Trump's Tax Cut Plans

Fri, 14 Jun 2024 09:44:39 +0000

On today's podcast:

1) G-7 Pledges to Step Up Action on Russia Fleet, Energy, Metals

2) Trump Tells CEOs He Would Cut Corporate Tax Rate to 20%

3) S&P 500 Notches Its Fourth Straight All-Time High

See omnystudio.com/listener for privacy information.

Instant Reaction: Supreme Court Backs Full Access to Abortion Pill

Thu, 13 Jun 2024 14:44:28 +0000

The Supreme Court preserved full access to a widely used abortion pill in a case that carried major stakes for reproductive rights and election-year politics. Bloomberg's Paul Sweeney and Alix Steel bring you instant reaction from our Bloomberg News team.

See omnystudio.com/listener for privacy information.

Post-FOMC Rally; Trump Heads to DC

Thu, 13 Jun 2024 09:52:22 +0000

On today's podcast:

1) Wall Street Hits Record Highs Following a Soft Inflation Print and Fed Decision

2) Former President Trump Returns to Washington For the First Time Since His Conviction

3) G-7 Leaders Move to Tape Russia's Frozen Assets to Support Ukraine

See omnystudio.com/listener for privacy information.

Instant Reaction: Jay Powell on Fed Policy

Wed, 12 Jun 2024 20:17:35 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision

See omnystudio.com/listener for privacy information.

Investors Brace for CPI and Fed; Apple Soars to Record

Wed, 12 Jun 2024 09:45:53 +0000

On today's podcast:

1) Fed Faces Dot-Plot Cliffhanger as CPI Looms

2) Apple Shares Soar Most Since 2022 on Hope AI Will Fuel Upgrades

3) Biden Plan to Brand Trump a Felon Is Hit by Son’s Conviction

See omnystudio.com/listener for privacy information.

Instant Reaction: Hunter Biden Found Guilty

Tue, 11 Jun 2024 16:01:48 +0000

Hunter Biden was found guilty of gun charges by a federal court jury in Delaware, becoming the first child of a sitting US president to be convicted of crimes. Bloomberg's Paul Sweeney and Jess Menton bring you instant reaction from our Bloomberg News team.

See omnystudio.com/listener for privacy information.

Investors Take Shine off Apple's AI Plans; CPI and Fed On Tap

Tue, 11 Jun 2024 09:50:51 +0000

On today's podcast:

1) Apple Unveils ‘AI for the Rest of Us’ in Bid to Retake Spotlight

2) Musk to Ban Apple Devices If OpenAI Is Integrated Into OS

3) Stocks Eke Out Gains in Fed & CPI Run-Up

See omnystudio.com/listener for privacy information.

Macron's Political Gamble; Far Right Surges in EU Elections

Mon, 10 Jun 2024 09:39:28 +0000

On today's podcast:

1) Macron Gambles on Snap French Election in Bid to Stop Le Pen

2) Stocks Drop on EU Elections

3) Apple Event Will Show Whether It Can Be a Force in AI Industry

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Fed Preview, London Tech Week, India Eco Data

Sat, 08 Jun 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of next week’s U.S CPI data and Fed decision, and a look at Apple’s Worldwide Developers Conference.
In the UK – a preview of London tech week.
In Asia – a look ahead to India CPI data and a monetary policy decision from the Bank of Japan.

See omnystudio.com/listener for privacy information.

GameStop Soars; Wall Street Braces for Jobs Report

Fri, 07 Jun 2024 10:02:21 +0000

On today's podcast:
1) Keith Gill’s YouTube Return Puts Billions on the Line for GameStop
2) US Jobs Report Is Set to Confirm a Steady Slowdown Underway
3) Israel’s Netanyahu set to address the US Congress

See omnystudio.com/listener for privacy information.

Biden in France for D-Day; Nvidia Joins $3 Trillion Club

Thu, 06 Jun 2024 09:39:08 +0000

On today's podcast:

1) D-Day Anniversary Is an Opportunity for Biden to Rebuke Trump

2) Nvidia’s Rise to $3 Trillion Fuels ‘Jensanity’ Across Tech World

3) ECB to Begin Cuts But Path Beyond Gets Murkier

See omnystudio.com/listener for privacy information.

Evolving Money: The Blockchain Revolution (Sponsored Content)

Thu, 06 Jun 2024 04:01:00 +0000

The costs of the paper check system – both in time and money – have been with us for centuries. But there’s a new technology called blockchain that looks as though it could provide a solution, with an online ledger that’s universally accessible and completely transparent. Blockchain also can't be hacked or altered and costs next to nothing. That may sound too good to be true, but a look back at how the paper check system was improved by the rise of digital money demonstrates that what sounds like a revolution today is often commonplace tomorrow. And blockchain may be the key to unlocking the future of money.

This episode is sponsored by Coinbase.

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India Election in Focus; UK Debate Reaction

Wed, 05 Jun 2024 09:36:33 +0000

On today's podcast:

1) Modi Seeks to Shore Up His Coalition to Secure Third Term

2) Sunak Hits Starmer on Taxes, But Struggles to Damage Rival

3) Dalio Flags US-China ‘Economic Warfare’ Among Top Global Risks

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Biden's Border Move; India Election Sends Markets Tumbling

Tue, 04 Jun 2024 09:47:03 +0000

On today's podcast:

1) Biden, Border Crisis Loom Large in Sheinbaum’s Early Hours

2) India’s Markets Tumble as Election Much Tighter Than Forecast

3) Intel CEO Fires Back at Nvidia in Battle for AI Chip Leadership

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GameStop Soars; Nvidia New Chips

Mon, 03 Jun 2024 09:52:17 +0000

On today's podcast

1) GameStop Shares Surge After Gill Post Shows $116 Million Bet

2) Nvidia Announces Next-Generation Rubin AI Platform for 2026

3) Modi Set for Landslide Election Win in India, Exit Polls Show

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Daybreak Weekend: U.S Jobs Preview, ECB Look Ahead, China Trade

Sat, 01 Jun 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the May jobs report in the U.S, and a look ahead to Gamestop earnings.
In the UK – a look ahead to the next ECB decision and European Parliament elections.
In Asia – a preview of China trade data, TSMC's sales and revenue, and the Computex tech show.

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Trump Found Guilty; Inflation Data on Wall Street

Fri, 31 May 2024 10:05:01 +0000

On today's podcast:

1) Donald Trump Reacts after Becoming the First US President Convicted on Criminal Charges
2) How the Trump Verdict Could Upend the Political Landscape Ahead of the 2024 Election
3) Traders Are Watching The Fed's Key Inflation Gauge, the PCE Index

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INSTANT REACTION: Donald Trump Becomes First Former US President Guilty of Crimes

Thu, 30 May 2024 23:37:08 +0000

Donald Trump was found guilty in the first criminal trial of a former US president in the nation’s history, a verdict that could reshape the political landscape five months before Election Day. Bloomberg TV and Radio hosts Joe Mathieu and Kailey Leinz offer instant analysis and perspective with key guests just as the verdict was announced.

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Trump Jury Deliberations Resume; South Africa Election Surprise

Thu, 30 May 2024 09:38:36 +0000

On today's podcast:

1) Trump Jury Asks About Key Meeting on Day One of Deliberations

2) South Africa’s ANC Punished by Voters

3) Google, Meta, Microsoft Snubbed From US AI Competition Forum

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Trump Case Goes to Jury; Big Oil Deal Negotiations

Wed, 29 May 2024 09:38:17 +0000

On today's podcast:

1) Trump Jury to Get Case in Hush-Money Trial

2) White House Says Israel’s Rafah Strike Doesn’t Cross Red Line

3) ConocoPhillips Is in Talks to Acquire Marathon Oil, FT Says

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Middle East Tensions Escalate; Trump Closing Arguments

Tue, 28 May 2024 09:49:02 +0000

On today's podcast:

1) Israeli Airstrike, Egyptian Guard’s Death Escalate Tensions

2) Trump’s Historic Closing Arguments

3) Apple’s China iPhone Shipments Up 52% as Rebound Gains Steam

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Daybreak Holiday: Markets, Fed Policy, Travel Tips

Mon, 27 May 2024 09:00:00 +0000

In this Memorial Day Edition of Bloomberg Daybreak:

We take a look at markets and inflation's impact on equities with Alicia Levine of BNY Mellon and Invesco's Brian Levitt

We check in on the strength of the US economy with Bloomberg's Michael McKee and Anna Wong.

Plus, we get some travel tips for the summer with The Points Guy, Brian Kelly.

Hosted by Nathan Hager

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Daybreak Weekend: U.S Eco Data, World Health Assembly, Asia Trilateral Meeting

Sat, 25 May 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of core PCE inflation and GDP data, and a look ahead to Dell and HP earnings.
In the UK - a look ahead to the 77th World Health Assembly in Geneva.
In Asia – a preview of a two-day summit between Japan, South Korea and China in Seoul.

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Market Selloff Ahead of the Holiday; Jensen Huang's Wealth Climb

Fri, 24 May 2024 09:51:54 +0000

On today's podcast:
1) The Wall Street Selloff Leads to a Drop Overseas

2) Big Banks are Calling More Staff to the Office

3) Nvidia's CEO Catapults Up the Richest Person Chart

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Nvidia Sparks Tech Rally; Haley Endorses Trump

Thu, 23 May 2024 09:52:44 +0000

On today's podcast:

1) Nvidia Delivers on AI Hopes, Igniting $140 Billion Stock Rally

2) Nikki Haley Says She Will Vote for Donald Trump in November

3) Sunak Fights Election on Economy That’s Only Just Picking Up

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Instant Reaction: Nvidia Forecast Shatters Estimates

Wed, 22 May 2024 21:12:22 +0000

Nvidia Corp., the chipmaker at the center of an artificial intelligence boom, gave another bullish sales forecast, showing that spending on AI computing remains strong. For instant reaction and analysis, host Carol Massar and Tim Stenovec speak with Bloomberg Intelligence senior semiconductor analyst Kunjan Sobhani and Dan Morgan, senior portfolio manager at Synovus Trust.

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Voters Concerned About Election Violence; Nvidia Earnings on Tap

Wed, 22 May 2024 09:47:38 +0000

On today's podcast:

1) Half of Swing-State Voters Fear Violence Around US Election

2) Wall Street Awaits Nvidia Earnings

3) Fed’s Collins, Mester Emphasize Need for More Data to Cut Rates

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Biden Tries Again for Immigration Bill; Chip Plans if China Invades Taiwan

Tue, 21 May 2024 09:53:08 +0000

On today's podcast:

1) Biden Asks GOP Leaders to Resuscitate Immigration Compromise

2) ASML, TSMC Can Disable Chip Machines If China Invades Taiwan

3) JPMorgan’s EO Dimon Says Succession Is ‘Well on the Way’

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Iran President's Death Leaves Succession Questions; Trump Trial Resumes

Mon, 20 May 2024 09:45:49 +0000

On today's podcast:

1) Iran President’s Death Leaves Supreme Leader Succession in Focus

2) Stocks Waver While Gold, Copper Surge to Records: Markets Wrap

3) Michael Cohen to Face More Grilling at Trump Hush Money Trial

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Daybreak Weekend: Nvidia Earnings, G7 Meeting, Taiwan President

Sat, 18 May 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of home sales data and Nvidia earnings.
In the UK – a look at the upcoming meeting of G7 finance ministers and central bankers in Italy.
In Asia – a preview of the inauguration of Taiwan’s president.

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Market Rally Drives Dow to 40,000; China Boosts Property Market

Fri, 17 May 2024 09:41:59 +0000

On today's podcast:
1) The Dow Jones Industrial Average Hits an All-Time High Before Pulling Back

2) China Eases Mortgage Rules and Aims to Convert Unsold Homes to Affordable Housing

3) Biden's Top Eco Advisor Defends China Tariffs

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Markets in Record Territory After CPI; Putin-Xi Signal Stronger Ties

Thu, 16 May 2024 09:49:32 +0000

On today's podcast:
1) The S&P 500 Closes Above 5,300 for the First Time Following the Latest CPI Reading

2) Xi Jinping and Vladimir Putin Meet in Beijing to Signal a Tighter Relationship

3) Donald Trump Returns to Court for His Hush Money Trial

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Wall Street Braces for Inflation Report; Key Primary Results

Wed, 15 May 2024 09:41:54 +0000

On today's podcast:

1) Global Stocks Rally Ahead of Inflation Data

2) Hogan Wins Senate Republican Primary in Maryland

3) GameStop, AMC Shares Rise as Traders Pounce on Meme Stocks

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Biden Slaps Tariffs on China; Blinken Visits Ukraine

Tue, 14 May 2024 10:00:36 +0000

On today's podcast:

1) Biden Imposes Sweeping Tariffs on China

2) Blinken Visits Ukraine

3) Bloomberg Speaks with Macron, Yellen, Moynihan, Solomon

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Blinken Warns Israel; US Raises Concerns Over China AI

Mon, 13 May 2024 09:46:23 +0000

On today's podcast:

1) Blinken Warns Israel It Risks Hamas Insurgency in Postwar Gaza

2) Student Protesters Walk Out on Seinfeld as Graduations Start

3) US to Raise Concerns Over China’s AI Development in Geneva Talks

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Daybreak Weekend: US Inflation Data, Choose France Summit, China Tech Earnings

Sat, 11 May 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
• In the US – a preview of U.S inflation data, and earnings from Home Depot and Walmart.
• In the UK – a preview of the Choose France Summit.
• In Asia – a look at next week’s tech earnings in China.

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Netanyahu Pushes Back on Biden; US China Tariffs

Fri, 10 May 2024 09:55:32 +0000

On today's podcast:
1) Israel's Prime Minister Warns his Country Will Stand Alone in Rafah Invasion

2) US Set to Place Tariffs on China that Will Target Key Industries

3) Markets Look Ahead to a Critical CPI Reading Next Week

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Biden's Israel Warning; House Speaker Dodges Ouster

Thu, 09 May 2024 09:49:46 +0000

On today's podcast:
1) President Biden Warns the US Will Hold Back More Weapons if Israel Invades Rafah

2) House Democrats Rescue Republican House Speaker Mike Johnson in Removal Vote

3) The Inside Scoop on Who Will Succeed Apple CEO Tim Cook

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US Pauses Arms Shipment to Israel; Trump Trials Update

Wed, 08 May 2024 10:06:25 +0000

On today's podcast:

1) US Pauses Arms Shipment to Israel Over Rafah Invasion Plans

2) Trump Jury Hears Stormy Daniels Testify to Intimacy With Him

3) TikTok Lawsuit Sets Stage for Prolonged Legal Fight Over US Ban

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Israel Takes Control of Rafah Border Crossing; UBS Shares Surge

Tue, 07 May 2024 09:46:55 +0000

On today's podcast:

1) Israel’s Troops Take Control of Rafah Border Crossing in Gaza

2) UBS Returns to Profit as Wealth, Investment Bank Drive Beat

3) Boeing Starliner Launch Is Delayed Due to Issue With Rocket

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Middle East Tensions Escalate; Campus Protests During Graduations

Mon, 06 May 2024 09:37:55 +0000

On today's podcast:

1) Israel Tells People to Leave Rafah as It Weighs Timing of Attack

2) Adams Vows to Protect NYC Graduations as LAPD Shuts USC Camp

3) Buffett Praises Apple After Trimming It, Drops Paramount Stake

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Daybreak Weekend: Disney Earnings, BOE Meeting, Xi in Europe

Sat, 04 May 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of Apple’s latest product event and earnings from Walt Disney.
In the UK – a look at next week’s Bank of England meeting.
In Asia – a look ahead to Chinese President Xi Jinping’s visit to Europe.

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Apple Rallies on Historic Buyback; Jobs Report On Tap

Fri, 03 May 2024 09:45:49 +0000

On today's podcast:

1) Apple Rallies on Upbeat Forecast, Record-Setting Stock Buyback

2) US Jobs Report to Show Continuing Streak of Big Employment Gains

3) Columbia Says a Third of Arrests at Hamilton Hall Were Outsiders

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Instant Reaction: Apple Beats on Sales and Earnings

Thu, 02 May 2024 21:24:40 +0000

Apple shares jumped in late trading after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing. The results came as a relief to investors, who have been waiting for the iPhone maker to pull out of a long slump.

Bloomberg TV and Radio hosts Carol Massar and Tim Stenovec speak with Bloomberg Intelligence Senior Technology Analyst Anurag Rana, Bloomberg News Chief Technology Correspondent Mark Gurman and Synovus Trust Senior Portfolio Manager Dan Morgan for analysis and reaction.

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Powell Keeps Rate Cuts Alive; Campus Crackdown Continues

Thu, 02 May 2024 09:36:53 +0000

On today's podcast:

1) Powell Keeps Rate Cuts on Table But Leaves Timing Less Certain

2) US College Campuses On Edge as Police Move In

3) Investors Await Apple Earnings

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Instant Reaction: Jay Powell on Fed Policy

Wed, 01 May 2024 20:29:47 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision

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Campus Crackdown, Amazon Shares Rise on Earnings

Wed, 01 May 2024 09:51:11 +0000

On today's podcast:

1) NYPD Clears Protesters Occupying Columbia’s Hamilton Hall

2) Amazon Reports Strong Cloud Unit Sales on Rising AI Demand

3) Fed to Signal Delay of Interest-Rate Cuts

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Instant Reaction: Amazon Reports Strong Cloud Unit Sales on Rising AI Demand

Tue, 30 Apr 2024 21:08:32 +0000

Amazon's cloud unit posted the strongest sales growth in a year, a sign that the retailer’s most profitable unit is recovering from a slump as businesses resume spending on technology projects. The shares rose in extended trading.

Bloomberg TV and Radio hosts Carol Massar and Tim Stenovec speak with Bloomberg Intelligence Senior Analyst for E-Commerce Poonam Goyal and Bloomberg Intelligence Senior Technology Analyst Anurag Rana for instant reaction and analysis.

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Campus Protests Heat Up, HSBC CEO Steps Down

Tue, 30 Apr 2024 09:47:42 +0000

On today's podcast:

1) Columbia Students Occupy Building as Campus Protests Continue

2) HSBC CEO Quinn Unexpectedly Steps Down After Almost 5 Years

3) Amazon Earnings on Tap

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Instant Reaction: Paramount CEO Bob Bakish Is Out

Mon, 29 Apr 2024 21:18:20 +0000

Paramount Global replaced Chief Executive Officer Bob Bakish, appointing a management committee as the board negotiates a possible change in control of the company. Three of Paramount’s most senior executives — film and kids programming chief Brian Robbins, Showtime/MTV head Chris McCarthy and George Cheeks, who leads CBS — will run the company, according to a statement released Monday.

Bloomberg TV and Radio hosts Romaine Bostick, Scarlet Fu, Tim Stenovec and Emily Graffeo discuss the news. Then, Tim and Emily speak with Bloomberg News Entertainment Editor Chris Palmeri for analysis and reaction.

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Middle East Truce Talks, Tesla Rallies on China Optimism

Mon, 29 Apr 2024 10:04:30 +0000

On today's podcast:

1) US Steps Up Efforts to Secure a Truce in Gaza

2) Musk Leaves China With Tesla Driving System Hurdles Cleared

3) Stocks Gain as Focus Turns to Fed

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Daybreak Weekend: Fed and Apple Preview, Autonomous Weapons Conference, Samsung Earnings

Sat, 27 Apr 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a look at next week’s Fed meeting and a preview of Apple earnings.
In the UK – a look at the Vienna Conference on Autonomous Weapons Systems.
In Asia - a preview of Samsung earnings.

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Daybreak Special: Google, Microsoft Earnings with Gene Munster and Dan Ives

Fri, 26 Apr 2024 10:16:58 +0000

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off. For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities.

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Microsoft & Alphabet Lead Tech Rally, Trump Supreme Court Case

Fri, 26 Apr 2024 09:55:32 +0000

On today's podcast:

1) Stocks Gain on Tech Rally

2) Supreme Court Wary of Trump Immunity But May Keep Trial on Hold

3) Anglo Rejects BHP Takeover Bid as Significantly Undervalued

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Instant Reaction: Alphabet, Microsoft Beat Estimates

Thu, 25 Apr 2024 21:03:19 +0000

The world’s largest technology companies soared in late trading after stellar results from Microsoft and Google’s parent Alphabet fueled confidence in the market’s most-influential group.

For instant reaction and analysis, plus a look ahead to what's next, Bloomberg Radio hosts Carol Massar and Tim Stenovec speak with James Cakmak, Technology Analyst at Clockwise Capital.

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Meta Miss Sends Tech Stocks Falling, Trump Supreme Court Case

Thu, 25 Apr 2024 09:53:04 +0000

On today's podcast:

1) Meta’s Miss Sparks Fear in Tech World With Big Earnings Looming

2) Supreme Court arguments on Donald Trump and presidential immunity

3) BHP Targets Anglo American in Bid Valuing Miner at $39 Billion

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Instant Reaction: Meta's Outlook Spooks Investors

Wed, 24 Apr 2024 21:03:11 +0000

Meta Platforms Inc. increased its spending estimates for the year and projected second quarter sales that were below Wall Street’s expectations, once again raising questions about whether its futuristic tech bets will pay off for investors.

Bloomberg Radio hosts Carol Massar and Tim Stenovec speak with Bloomberg News contributor Jon Erlichman and Bloomberg Intelligence senior analyst Mandeep Singh for instant analysis and reaction.

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Senate Passes Ukraine Aid, Biden Loses Steam in Presidential Poll

Wed, 24 Apr 2024 10:01:48 +0000

On today's podcast:

1) US Senate Passes Ukraine Aid, Arms Shipments to Resume in Days

2) Biden’s Gains Against Trump Vanish on Deep Economic Pessimism

3) Tesla Speeds Cheaper EV Plans, Calming Fears Over Strategy

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Instant Reaction: Tesla Fast Tracks Affordable Models After Earnings Miss

Tue, 23 Apr 2024 21:24:17 +0000

Tesla says it will accelerate the launch of more affordable models after reporting worse-than-expected profit and revenue for a third consecutive quarter. Bloomberg Radio hosts Carol Massar and Tim Stenovec speak with Ross Gerber, CEO at Geber Kawasaki Wealth Management, Bloomberg Businessweek Columnist Max Chafkin and Bloomberg Technology co-host Ed Ludlow for instant analysis and reaction.

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Mass Arrests amid Israel-Hamas War; Tesla's Critical Q1 Report

Tue, 23 Apr 2024 09:54:45 +0000

On today's podcast:1) Hundreds Arrested at Elite College Campuses

2) Testimony Under Way at former President Trump's Hush Money Trial

3) Tesla Investors Gear Up for Key Earnings

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Ukraine & Israel Aid Nears; Trump Trial Opening Statements

Mon, 22 Apr 2024 09:53:50 +0000

On today's podcast:

1) US Aid Gives Kyiv Respite But Battlefield Shift Remains Far Off

2) Opening Statements in Former President Trump's 'Hush Money' Trial

3) Magnificent 7 Set to Report Earnings

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Daybreak Weekend: Tesla Earnings, European Banks, Auto Show China

Sat, 20 Apr 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – A preview of U.S core PCE and GDP data, and Tesla earnings.
In the UK – A preview of European bank earnings.
In Asia – A preview of Auto Show China

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Israel Reportedly Strikes Iran; Military Aid Vote

Fri, 19 Apr 2024 09:49:46 +0000

On today's podcast:

1) U.S. officials say Israel Launched a Retaliatory Strike on Iran

2) Aid Packages for Israel, Ukraine, and Taiwan Get a Push on Capitol Hill

3) The Jury's Seated in the Criminal Case against Donald Trump

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Netflix Crushes Subscriber Estimates: Reaction and Analysis

Thu, 18 Apr 2024 23:18:07 +0000

Netflix posted its best start to the year since 2020, attracting more new customers than anyone expected thanks to a strong slate of original programs and a crackdown on password sharing. Bloomberg Businessweek hosts Carol Massar and Tim Stenovec discuss with Bloomberg Surveillance co-host Paul Sweeney, Bloomberg earnings reporter Redd Brown and Bloomberg Intelligence senior US media analyst Geetha Ranganathan for reaction and analysis.

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Biden Talks Tough on China; TikTok Faces Reckoning as Divest-or-Ban Vote Nears

Thu, 18 Apr 2024 09:45:23 +0000

On today's podcast:

1) Biden Calls China ‘Xenophobic,’ Ramping Up Campaign Rhetoric

2) TikTok Faces Washington Reckoning as Divest-or-Ban Vote Nears

3) Mester Says Fed Can Hold Rates Steady, Not In a Hurry to Cut

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Fed Rate-Cut Delay; Trump Trial Update

Wed, 17 Apr 2024 09:43:30 +0000

On today's podcast:

1) Powell Signals Rate-Cut Delay After Run of Inflation Surprises

2) Trump Hush Money Trial Adjourns Till Thursday

3) Morgan Stanley Is Planning Biggest China Job Cuts in Years

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Israel Vows Revenge; Trump Trial Update

Tue, 16 Apr 2024 09:55:56 +0000

On today's podcast:

1) Israel Vows Response to Iran as US and Allies Urge Restraint

2) Trump Trial Off to Slow Start With Ex-President Appearing Bored

3) Fed’s Daly Says No Urgency to Cut, Policy in a Good Place

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Stocks Calm Following Iran Attack; Trump Trial Begins

Mon, 15 Apr 2024 09:45:21 +0000

On today's podcast:

1) Stocks Rise in Return to Calm as Oil Prices Slide

2) Trump’s NY Criminal Trial to Mark Milestone in American Politics

3) Goldman Set to Report Earnings

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Daybreak Weekend: IMF Meetings, Scholz in China, China Data Dump

Sat, 13 Apr 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the IMF and World Bank meetings, and U.S Retail sales.
In the UK – a look at German Chancellor Olaf Scholz’s visit to China.
In Asia - a look at a slew of China economic data, including GDP, Industrial production and retail sales.

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Bank Earnings Begin; Apple Makes Another AI Move

Fri, 12 Apr 2024 09:54:12 +0000

On today's podcast:

1) Wall Street Awaits Bank Earnings

2) Apple to Overhaul Entire Mac Line With AI-Focused M4 Chips

3) Biden Cancels $7 Billion in Student Debt

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Fed Rate Bets Change; Biden Aims to Reduce Gun Violence

Thu, 11 Apr 2024 09:58:07 +0000

On today's podcast:

1) Traders See Fed Waiting Until After Summer to Cut as Yields Soar

2) US Sees Imminent Missile Strike on Israel by Iran, Proxies

3) Biden Administration to Issue Rule Closing Gun-Show Loophole

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Investors Brace for Inflation Data; Biden Critical of Israel

Wed, 10 Apr 2024 09:41:45 +0000

On today's podcast:

1) Barrage of Short Wagers Leaves Bonds Primed for Post-CPI Squeeze

2) Biden calls Israel's handling of the war in Gaza a mistake.

3) Boeing Crisis of Confidence Deepens With 787 Now Under Scrutiny

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Fed Rate Cut Debate; McConnell Backs TikTok Divestment Bill

Tue, 09 Apr 2024 09:42:54 +0000

On today's podcast: 1) Bullard Says Three Fed Rate Cuts This Year Is ‘Base Case 2) Trump loses a bid to delay his New York hush money trial. 3) Senate GOP Leader McConnell Backs TikTok Divestment Bill

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Yellen Wraps China Talks; Israel Preps Future Operations; Total Eclipse

Mon, 08 Apr 2024 09:47:15 +0000

On today's podcast:

1) Treasury Secretary Janet Yellen says US-China Relations are Improving

2) Israel is Removing Some Troops from Gaza as its Preps for Potential Offensive on Rafah

3) The Day of the Total Eclipse Catches the Nation's Attention

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Daybreak Weekend: U.S CPI Data, ECB Meeting, China Inflation

Sat, 06 Apr 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI data and bank earnings.
In the UK – a look at next week’s ECB meeting and rate decision.
In Asia - a preview of China inflation data.

See omnystudio.com/listener for privacy information.

Wall Street Awaits Jobs Report; Yellen Blasts China

Fri, 05 Apr 2024 09:51:50 +0000

On today's podcast:

1) Wall Street Awaits March Jobs Report

2) Yellen Blasts ‘Coercive’ China Moves on US Firms, Urges Reforms

3) Biden Tells Netanyahu US Support Hinges on Protecting Civilians

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Biden and Netanyahu to Speak; Iger Wins Proxy Fight

Thu, 04 Apr 2024 09:47:26 +0000

On today's podcast:
1) Tensions deepen between President Biden and Israeli Prime Minister Benjamin Netanyahu
2) Treasury Secretary Janet Yellen Heads to China for Talks
3) Disney Shareholders hand CEO Bob Iger a Win after Rejecting Nelson Peltz's Bid for a Board Seat

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Deadly Taiwan Earthquake, Biden Escalates Criticism of Israel

Wed, 03 Apr 2024 09:36:08 +0000

On today's podcast:

1) Worst Taiwan Quake in 25 Years Kills Seven, Disrupts Chips

2) Biden Escalates Criticism of Israel After Aid Worker Deaths

3) Fed Blocks Tough Global Climate-Risk Rules for Wall Street Banks

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Trump Posts Bond, June Rate-Cut Odds Fall

Tue, 02 Apr 2024 10:05:56 +0000

On today's podcast:

1) Trump $175 Million Bond Arranged by Billionaire Supporter’s Firm

2) Iran Vows Revenge on Israel For Strike on Consulate in Syria

3) June Rate-Cut Odds Dip Below 50% as Strong ISM Data Sinks In

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Powell Talks Rates; Turkey's Historic Election

Mon, 01 Apr 2024 09:46:36 +0000

On today's podcast:

1) Fed Chair Jay Powell Reacts to PCE Data and Reiterates Rate Cut Outlook

2) Congress Returns to Address Ukraine Aid

3) Turkish President Erdogan Suffers Major Election Defeat

See omnystudio.com/listener for privacy information.

Daybreak Weekend: U.S Jobs, European Core Inflation, China PMIs

Sat, 30 Mar 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of the March jobs report and Disney’s annual meeting of shareholders.
In the UK - a preview of European core inflation data.
In Asia – a look at a potential TikTok ban in the U.S, and a preview of China PMI data.

See omnystudio.com/listener for privacy information.

Instant Reaction: Jay Powell Speaks

Fri, 29 Mar 2024 16:49:21 +0000

Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

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Instant Reaction: Inflation Data

Fri, 29 Mar 2024 13:39:13 +0000

Bloomberg's Nathan Hager breaks down the latest PCE data with Bloomberg Economics and Policy Editor Michael McKee. Plus, reaction to the data from Tom Porcelli, Chief US Economist at PGIM Fixed Income, and Wells Fargo Senior Economist Sarah House.

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INSTANT REACTION: Bankman-Fried Sentenced to 25 Years

Thu, 28 Mar 2024 16:30:47 +0000

FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a case that has both captivated and overshadowed the crypto industry. Bloomberg Radio hosts Paul Sweeney, Alix Steel, Joe Mathieu and Kailey Leinz discuss, with instant reaction and analysis from Bloomberg Law host June Grasso and Bloomberg News legal editor Peter Jeffrey.

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Remembering Joe Lieberman; Baltimore Bridge Latest

Thu, 28 Mar 2024 09:53:34 +0000

On today's podcast:

1) Colleagues Remember Former Senator and Vice Presidential Candidate Joe Lieberman, who Passed Away at 82

2) Search and Recovery Efforts Continue in Baltimore with Six Presumed Dead

3) The Fed and Investor Get a Slew of data Ahead of the Holiday Shortened Trading Week

See omnystudio.com/listener for privacy information.

Baltimore Bridge Latest and Trump's Trial & Fortune

Wed, 27 Mar 2024 09:38:08 +0000

On today's podcast:

1) Officials Promise Recovery as Search and Recover Operations Begin at the Francis Scott Key Bridge Collapse

2) A Judge Lays Out Rules for Donald Trump's New York Trial as his Startup Gains in Volatile First Day of Trading

3) BlackRock CEO Larry Fink Warns of a Looming "Retirement Crisis" in America

See omnystudio.com/listener for privacy information.

Baltimore Bridge Collapse, Trump's Trial Date

Tue, 26 Mar 2024 09:34:27 +0000

On today's podcast:

1) A Baltimore Bridge Collapsed After Being Struck by a Large Vessel

2) A Federal Judge in New York has Ordered Donald Trump's Hush Money Trial to Begin on April 15th

3) The US Abstains on the UN Security Resolution Regarding its War with Hamas

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Trump's Legal Deadline, A Warning for Israel

Mon, 25 Mar 2024 09:33:30 +0000

On today's podcast:

1) Former President Trump must post a nine-figure bond today to appeal his New York civil fraud judgment

2) Vice President Harris warns Israel against a major attack on Rafah

3) Russia charges four men in connection with the Moscow concert terror attack

See omnystudio.com/listener for privacy information.

Daybreak Weekend: U.S Inflation Data, Europe Chocolate Prices, BYD Preview

Sat, 23 Mar 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S PCE and GDP data, and a look ahead to Carnival earnings.
In the UK - a look at challenges for Europe’s chocolate industry ahead of Easter.
In Asia - a preview of BYD and China bank earnings.

See omnystudio.com/listener for privacy information.

Stocks in Record Territory, Reddit IPO Reaction

Fri, 22 Mar 2024 09:44:17 +0000

On today's podcast:

1) Stocks Set for Best Week of Year After Dovish Tilt

2) Reddit’s Debut Jump Delivers for New and Old Shareholders Alike

3) Summers Criticizes Fed for Having ‘Itchy Fingers’ on Rate Cuts

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Instant Reaction: Reddit Starts Trading on NYSE

Thu, 21 Mar 2024 18:31:41 +0000

Shares of Reddit started trading today, after an IPO that valued the company near the top of its marketed range. Carol Massar, Tim Stenovec and Bloomberg's team of reporters discuss the IPO and the path ahead for Reddit.

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Global Rally Following Fed Decision, Reddit Set to Debut

Thu, 21 Mar 2024 09:35:57 +0000

On today's podcast:

1) Stocks Roar on Confidence Rate Cuts Are Coming

2) Reddit IPO Prices at Top of Range to Raise $748 Million

3) DOJ to Sue Apple for Antitrust Violations as Soon as Thursday

See omnystudio.com/listener for privacy information.

Instant Reaction: Jay Powell on Fed Policy

Wed, 20 Mar 2024 20:35:14 +0000

Bloomberg's Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision

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Instant Reaction: The Fed Decides

Wed, 20 Mar 2024 18:56:18 +0000

Bloomberg's Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance

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Latest Election Results, U.S. Weighing China Chip Sanctions

Wed, 20 Mar 2024 09:39:42 +0000

On today's podcast:

1) Trump-Backed Moreno Wins GOP US Senate Primary in Ohio

2) US Weighs Sanctioning Huawei’s Secretive Chinese Chip Network

3) Fed to Give Fresh Clues on Path of Rate Cuts

See omnystudio.com/listener for privacy information.

Shutdown Deal, Wall Street Bonus Pay Drops

Tue, 19 Mar 2024 09:43:48 +0000

On today's podcast:

1) US Lawmakers Reach Deal to Keep Government Open Through Sept. 30

2) BOJ Ends Era of Negative Rates With Few Clues on Further Hikes

3) Wall Street Bonuses Decline Slightly Amid an Influx of Bankers

See omnystudio.com/listener for privacy information.

Putin Warns Russia Won’t Stop; Apple & Alphabet in Blockbuster AI Talks

Mon, 18 Mar 2024 09:46:26 +0000

On today's podcast:

1) Putin Warns Russia Won’t Stop After Predictable Election Win

2) Apple Is in Talks to Let Google Gemini Power iPhone AI Features

3) Global Policy Decisions This Week

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Daybreak Weekend: Fed Preview, UK Rate Decision, Tencent Earnings

Sat, 16 Mar 2024 09:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - a preview of next week’s Fed decision and Nike earnings.
In the UK - a preview of the UK’s next rate decision.
In Asia - a look ahead at the RBA’s next monetary policy decision & Tencent earnings.

See omnystudio.com/listener for privacy information.

TikTok Ban Update; Fed in No Rush to Cut

Fri, 15 Mar 2024 09:43:26 +0000

On today's podcast:

1) TikTok Ban-or-Divest Bill Is Going Nowhere Fast in Senate

2) Fed Gets More Reasons to Delay Rate Cuts in Latest Data

3) Adobe Drops on Weak Forecast Fueled by AI Competition Fears

See omnystudio.com/listener for privacy information.

TikTok Ban Update; Trump Eyes Paulson for Cabinet

Thu, 14 Mar 2024 09:43:45 +0000

On today's podcast:

1) TikTok Sell-or-Ban Push to Slow as Bill Hits Senate Turbulence

2) Trump Has Raised John Paulson, Others as Potential Cabinet Picks

3) Disney Focuses on Division Leaders in Hunt for Iger’s Successor

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Trump-Biden Rematch; TikTok Bill Latest

Wed, 13 Mar 2024 09:38:54 +0000

On today's podcast:

1) Trump Wins Republican Nomination, Setting Up Rematch With Biden

2) Griffin Says Fed Must Go Slow to Avoid ‘Devastating Course’

3) TikTok Focuses on Senate as House Favors a Divestment Vote

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Dimon Warning on Economy; TikTok Divestment Bill Gains Steam

Tue, 12 Mar 2024 09:38:52 +0000

On today's podcast:

1) Jamie Dimon Warns US Recession ‘Not Off the Table’ Yet

2) Stocks Rise With Traders Hedging Post-CPI Moves

3) TikTok Divestment Bill Moves Ahead in House as Trump Wavers

See omnystudio.com/listener for privacy information.

Biden Warns Israel; Another Record for Bitcoin

Mon, 11 Mar 2024 09:35:09 +0000

On today's podcast:

1) Biden Warns Israel Not to Invade Rafah as Cease-Fire Talks Stall

2) Stocks and Futures Fall With Focus on US Inflation

3) Bitcoin Tops $71,000 for the First Time as Rally Builds Steam

See omnystudio.com/listener for privacy information.

Daybreak Weekend: US CPI, UK Real Estate, Asia Tech Earnings

Sat, 09 Mar 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US – a preview of U.S CPI and Retail sales data, and a look ahead to earnings from Adobe and Oracle.
In the UK - a look ahead to a major real estate conference on the French riveria

In Asia – a preview of Hon Hai and CATL earnings.

See omnystudio.com/listener for privacy information.

State of the Union Address and GOP Response; TikTok Divestment Efforts

Fri, 08 Mar 2024 10:37:05 +0000

On today's podcast:

1) Biden Jump-Starts 2024 Race in State of the Union Aimed at Trump

2) TikTok Divestment Effort Gains Steam

3) George Santos Announces Another Run for New York House Seat

See omnystudio.com/listener for privacy information.

SPECIAL COVERAGE: State of the Union Reaction

Fri, 08 Mar 2024 04:56:38 +0000

Hosts Joe Mathieu and Kailey Leinz lead special coverage of President Joe Biden's State of the Union address, with insight and analysis from Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino. Plus, hear reaction from Senator Dick Durbin, Representative Haley Stevens, and Representative Bryan Steil.

See omnystudio.com/listener for privacy information.

Biden State of the Union; NYCB Gets Cash Infusion from Mnuchin

Thu, 07 Mar 2024 10:31:09 +0000

On today's podcast:

1) Biden Team to Lambaste Trump’s Economic Plans During Address

2) Powell Testifies Before Congress

3) NYCB Raises Over $1 Billion in Equity Led by Mnuchin’s Firm

See omnystudio.com/listener for privacy information.

Nikki Haley Exits GOP Race; Jay Powell Testifies

Wed, 06 Mar 2024 10:44:53 +0000

On today's podcast:

1) Trump, Biden Ride Super Tuesday Wins to Rematch Few Want

2) Nikki Haley Exits the GOP Presidential Race

3) Investors Await Powell Congressional Testimony

See omnystudio.com/listener for privacy information.

SPECIAL COVERAGE: Super Tuesday Reaction

Wed, 06 Mar 2024 04:49:21 +0000

Former President Donald Trump notched a series of Republican presidential primary victories as he barrels closer toward his party’s nomination. Hosts Joe Mathieu and Kailey Leinz speak with former Virginia Governor, Republican Jim Gilmore, Democratic pollster Celinda Lake and Bloomberg politics contributors Rick Davis and Jeanne Sheehan Zaino for analysis and reaction.

See omnystudio.com/listener for privacy information.

Super Tuesday Preview; Apple iPhone Sales Plunge in China

Tue, 05 Mar 2024 10:38:10 +0000

On today's podcast:

1) Millions Head to Polls on a Day That Will Shape the November Vote

2) Apple’s iPhone Struggles in China Deepen With a 24% Sales Plunge

3) China Sets GDP Goal That Needs Policy Support ‘From All Fronts’

See omnystudio.com/listener for privacy information.

Congress Plan to Avert Shutdown; Fed's Powell to Testify

Mon, 04 Mar 2024 10:42:48 +0000

On today's podcast:

1) Congress Unveils $436 Billion Plan to Fund Part of US Government

2) Fed’s Powell About to Double Down on ‘No Rush to Cut

3) Stocks Pause After Rally, Seek Rate-Cut Signals

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Jobs Report, Jay Powell Speaks, Government Spending

Sat, 02 Mar 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - Jobs Report, Jay Powell on Capitol Hill and Target earnings
In the UK - the government is preparing to present its tax and spending plans for the coming year
In Asia - China's top political advisory body and legislature will be gathering for their annual two sessions

See omnystudio.com/listener for privacy information.

Shutdown Averted; Stocks at Record Highs

Fri, 01 Mar 2024 10:35:30 +0000

On today's podcast:

1) Congress Approves Interim Funds to Avert US Government Shutdown

2) Stocks Begin March at Record Highs

3) NYCB Flags Weaknesses in Loan Oversight and Names New CEO

See omnystudio.com/listener for privacy information.

Supreme Court Takes Up Trump Immunity; New Presidential Poll

Thu, 29 Feb 2024 10:44:57 +0000

On today's podcast:

1) Supreme Court Immunity Case Jeopardizes Trump Trial Pre-Election

2) Biden Is Too Old But Trump Is Dangerous, Swing-State Voters Say

3) US Futures Slip With Focus on Key Inflation Data

See omnystudio.com/listener for privacy information.

BREAKING NEWS: Mitch McConnell Stepping Down

Wed, 28 Feb 2024 18:18:07 +0000

Republican Mitch McConnell will step down as his party’s leader in the Senate after the November election. Here is instant reaction and analysis from the Bloomberg Balance of Power podcast, hosted by Joe Mathieu and Kailey Leinz.

See omnystudio.com/listener for privacy information.

Michigan Primary Results; Apple Ditches Self-Driving Car

Wed, 28 Feb 2024 10:31:58 +0000

On today's podcast:

1) Biden, Trump Win in Michigan, Edging Closer to 2024 Rematch

2) Congress Leaders Meet Biden, Are Upbeat on Averting Shutdown

3) Apple Ditching Car Effort Boosts Urgency of Bets on AI, Headset

See omnystudio.com/listener for privacy information.

Key White House Meeting; Biden Optimism on Cease-Fire

Tue, 27 Feb 2024 10:32:00 +0000

On today's podcast:

1) Biden to Meet With Congressional Leaders

2) Biden Hopes Gaza Cease-Fire Starts as Soon as Next Monday

3) Bitcoin Tops $57,000 Price Level for First Time Since Late 2021

See omnystudio.com/listener for privacy information.

Shutdown Countdown; Haley Loses Key Donor

Mon, 26 Feb 2024 10:37:37 +0000

On today's podcast:

1) Schumer Says Shutdown Risk Remains With Funding Deal Elusive

2) Netanyahu Says He’ll Soon Have Action Plan for Rafah Civilians

3) Koch Network to Stop Funding Haley in Blow to Her 2024 Bid

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Fresh Data, Mobile World Congress, Baidu Earnings

Sat, 24 Feb 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - Lowes earnings and fresh economic data
In the UK - Its the Mobile World Congress in Barcelona
In Asia - Baidu earnings are on tap

See omnystudio.com/listener for privacy information.

US Equities Hit Records; Stock Soars on Moon Landing

Fri, 23 Feb 2024 10:38:34 +0000

On today's podcast:

1) Stocks, Futures Pause After Record-Busting Rally

2) US Lands on Moon in Historic Feat for Private Spacecraft

3) Goldman Pushes Back Bet on First Fed Interest-Rate Cut to June

See omnystudio.com/listener for privacy information.

Nvidia Fuels Global Rally; Goldman & Boeing Management Changes

Thu, 22 Feb 2024 10:40:48 +0000

On today's podcast:

1) Nvidia Surges After AI Boom Shows No Signs of Letting Up

2) Nasdaq Futures Up 2% as Nvidia Powers Global Rally

3) Goldman’s Beth Hammack, Set to Crack Top Ranks, Is Leaving

See omnystudio.com/listener for privacy information.

Wall Street Awaits Nvidia Earnings; Amazon Added to the Dow

Wed, 21 Feb 2024 10:40:51 +0000

On today's podcast:

1) Investors Await Nvidia Earnings

2) Amazon Set to Replace Walgreens in Dow Jones Industrial Average

3) Citi Lifts Fraser’s Pay to $26 Million as Investors Eye Overhaul

See omnystudio.com/listener for privacy information.

Capital One Buys Discover; US Warns Israel

Tue, 20 Feb 2024 10:38:57 +0000

On today's podcast:

1) Capital One to Buy Discover for $35 Billion in Top 2024 Deal

2) Barclays Vows to Return Billions to Investors in Overhaul

3) US Warns Israel Against an Attack on Rafah in UN Draft

See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Holiday: Earnings, Retail, Markets

Mon, 19 Feb 2024 10:56:13 +0000

In this President's Day Special edition of Daybreak, we look at upcoming earnings from Walmart, Donald Trump's impact on the economy and London real estate. Hosted by Nathan Hager.

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Nvidia Earnings, Fed Minutes, Fashion Week

Sat, 17 Feb 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we look ahead to Nvidia earnings and minutes from the Fed
In the UK - we preview this season of European fashion weeks. They're expected be as glamorous as ever, with the fashion elite descending on London, then Milan, and then Paris.
In Asia - looks at what we can expect from the minutes of the Reserve Bank of Australia

See omnystudio.com/listener for privacy information.

SPECIAL COVERAGE: Trump Hit With $364 Million Fine in NY Fraud Case

Fri, 16 Feb 2024 22:05:39 +0000

Tim Stenovec and Emily Graffeo host. Features analysis from Bloomberg legal investigative reporter Greg Farrell, Bloomberg politics contributor Jeanne Sheehan Zaino, Bloomberg Law host June Grasso and Bloomberg Legal Enterprise reporter Patricia Hurtado

See omnystudio.com/listener for privacy information.

Trump Civil Fraud Trial Verdict Expected; Nike Cutting Jobs

Fri, 16 Feb 2024 10:37:22 +0000

On today's podcast:

1) Verdict in Donald Trump’s civil fraud trial expected

2) Nike to Cut 2% of Workforce as Sportswear Giant Seeks Savings

3) Fed’s Bostic Says May Take ‘Some Time’ to Hit Rate-Cut Threshold

See omnystudio.com/listener for privacy information.

Deadly Super Bowl Parade Shooting; Trump Eyes NATO Makeover

Thu, 15 Feb 2024 10:35:53 +0000

On today's podcast:

1) At least 8 children among 22 hit by gunfire at end of Chiefs' Super Bowl parade

2) Trump Eyes NATO Makeover, Hurried Peace in Ukraine If He Wins

3) Cisco and Morgan Stanley Job Cuts

See omnystudio.com/listener for privacy information.

Democrats Win Special Election; House Votes to Impeach Mayorkas

Wed, 14 Feb 2024 10:37:51 +0000

On today's podcast:

1) Democrats win New York's special election to replace George Santos.

2) The House votes to impeach Homeland Security Secretary Alejandro Mayorkas.

3) Defense Secretary Lloyd Austin is released from the hospital

See omnystudio.com/listener for privacy information.

Snow Hits Northeast; New York Special Election; US Inflation Data

Tue, 13 Feb 2024 10:36:00 +0000

On today's podcast:

1) Snow prepares to blanket the northeast as winter storm warnings stretch from New York to Boston

2) Voters on Long Island head to the polls to replace disgraced representative George Santos

3) Inflation data takes center stage on Wall Street

See omnystudio.com/listener for privacy information.

Chiefs' Super Bowl Win; Israel Airstrikes in Gaza; Winter Storm Warning

Mon, 12 Feb 2024 10:34:21 +0000

On today's podcast:
1) The Kansas City Chiefs win their third Super Bowl in five years
2) The White House ramps up pressure on Israel as the country launches more airstrikes in Gaza
3) A winter storm warning hits the northeast, threatening up to a foot of snow

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Inflation Data Preview; Earnings Continue

Sat, 10 Feb 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we look ahead to inflation data and Coca-Cola earnings
In the UK - we discuss geopolitics ahead of the Munich Security Conference
In Asia - key eco data is in focus as the BOJ weighs ending its interest rate policy

See omnystudio.com/listener for privacy information.

Biden Memory Issues?; Reaction to Putin Interview

Fri, 09 Feb 2024 10:32:49 +0000

On today's podcast:

1) President Joe Biden forcefully — and at times angrily — sought to combat suggestions his acuity was declining in a hastily-arranged press conference Thursday night

2) The US Supreme Court appeared poised to keep Donald Trump on this year’s presidential election ballot, as the justices weighed a historic clash over Colorado voter efforts to disqualify him over his role in the Jan. 6 Capitol riot.

3) President Vladimir Putin said Russia hasn’t achieved its objectives in Ukraine yet, adding in an interview with former Fox News host Tucker Carlson that he would consider negotiations if the US stops supplying weapons to Kyiv.

See omnystudio.com/listener for privacy information.

Disney Jumps on Earnings; Border Deal Dies in Senate

Thu, 08 Feb 2024 10:30:03 +0000

On today's podcast:

1) Walt Disney Co. is acquiring a $1.5 billion equity stake in Fortnite maker Epic Games Inc. as part of a collaboration involving Disney properties like Star Wars, Marvel and Avatar, the companies said Wednesday.

2) The Senate delivered a death blow to efforts to impose new border restrictions, blocking a carefully negotiated bipartisan compromise after former president Donald Trump and House Republican leaders denounced the deal.

3) Former Barclays Plc Chief Executive Officer Jes Staley has long maintained that he cut off his friendship with Jeffrey Epstein once he became boss of the UK bank. Legal documents seen by Bloomberg News claim that he had indirect contact with the late pedophile financier for years after that.

See omnystudio.com/listener for privacy information.

Border Deal Unlikely; Nevada Primary; NYCB Cut to Junk by Moody’s

Wed, 07 Feb 2024 10:26:55 +0000

On today's podcast:

1) President Joe Biden blamed Donald Trump for sinking a bipartisan immigration and Ukraine aid bill, saying the Republican frontrunner pressured members of his party to reject it in order to gain an advantage in the November election.

2) Nikki Haley suffered an embarrassing loss in the largely symbolic Republican Nevada presidential primary on Tuesday, while President Joe Biden secured an easy victory in the state’s Democratic vote.

3) New York Community Bancorp’s credit grade was cut to junk by Moody’s Investors Service less than a week after the regional lender alarmed shareholders by slashing payouts and stockpiling reserves to cover troubled loans tied to commercial real estate.

4) Walt Disney Co.’s ESPN, Fox Corp. and Warner Bros. Discovery Inc. are joining forces to launch a sports-focused streaming service that will feature major college and pro games usually seen only on traditional TV.

See omnystudio.com/listener for privacy information.

US Border-Ukraine Aid Deal Near Collapse; UBS Ermotti Interview

Tue, 06 Feb 2024 10:30:46 +0000

On today's podcast:

1) A hard-fought bipartisan deal to impose new US border restrictions and unlock Ukraine war aid is on the brink of collapsing in the Senate, where Republican support crumbled in the face of opposition from GOP presidential front-runner Donald Trump.

2) UBS Group AG will buy back up to $1 billion in shares this year, as the bank seeks to keep investors focused on the upside of its complex integration of Credit Suisse.

3) Boeing Co. executives have spent the past month grappling with the aftermath of a near-catastrophe on an airborne 737 Max jet. As the US planemaker works through its latest crisis tied to manufacturing lapses, a new risk looms: a labor rift 10 years in the making.

See omnystudio.com/listener for privacy information.

Powell Pushes Back on March Cut; US Vows More Mideast Strikes

Mon, 05 Feb 2024 11:02:19 +0000

On today's podcast:

1) Federal Reserve Chair Jerome Powell said Americans may have to wait beyond March for the central bank to cut interest rates as officials look for more economic data to confirm that inflation is headed down to 2%.

2) The US vowed more strikes against Iran’s forces and its proxies in the Middle East after three straight days of punishing attacks, even as Washington insisted it won’t be pulled into a prolonged regional conflict.

3) Senators released a bipartisan deal Sunday to impose new US immigration restrictions and unlock billions of dollars in Ukraine aid, a crucial step even as the measure faces long odds in the House.

4) Taylor Swift announces new album, 'The Tortured Poets Department,' while accepting Grammy

See omnystudio.com/listener for privacy information.

Daybreak Weekend: Earnings Season Continues; European Oil; Lunar New Year

Sat, 03 Feb 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we preview Disney and Uber earnings
In the UK - we detail how big oil is grappling with geopolitics and climate change
In Asia - we look to the Lunar New Year and the health of the Chinese consumer

See omnystudio.com/listener for privacy information.

Meta & Amazon Surge; Apple Falls on China Concerns

Fri, 02 Feb 2024 10:48:47 +0000

On today's podcast:

1) Meta Platforms Inc. and Amazon.com Inc. spent 2023 cutting costs and re-focusing their businesses. It was a strategy that upended the lives of tech workers in Seattle and Silicon Valley, but appears to have paid off handsomely for investors who are likely to continue reaping benefits.

2) Apple Inc.’s latest quarterly results triggered investor fears that the company is losing clout in China, a long-prized market that generates roughly a fifth of its sales.

3) A monthly US jobs report due Friday will probably show a slower pace of hiring in 2023 following annual revisions, according to Bloomberg Economics.

See omnystudio.com/listener for privacy information.

Fed Rate Cut in March in Doubt; High Tech Earnings Continue

Thu, 01 Feb 2024 10:43:38 +0000

On today's podcast:

Federal Reserve officials cemented the end of their aggressive campaign to push up interest rates, and sought to reset expectations for how soon and how fast they’ll cut this year as inflation pressures fade.
US megacap earnings are back in focus, with Apple Inc., Amazon.com Inc. and Meta Platforms Inc. all due to release results
In an unscripted scene during tense testimony Wednesday, Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg stood before a packed Senate hearing room and apologized directly to the families of children who were victims of sexual exploitation on social media platforms.
New York Community Bancorp may have its credit rating cut to junk by Moody’s Investors Service as the firm stockpiles money to cover troubled loans and spends more to fund operations.

See omnystudio.com/listener for privacy information.

Instant Reaction: Jay Powell on Fed Policy

Wed, 31 Jan 2024 21:18:21 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision

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Instant Reaction: The Fed Decides

Wed, 31 Jan 2024 19:59:10 +0000

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance

See omnystudio.com/listener for privacy information.

Tech Stocks Slammed; New Bloomberg Presidential Poll

Wed, 31 Jan 2024 10:38:17 +0000

On today's podcast:

1) Microsoft Corp., Alphabet Inc.’s Google and Advanced Micro Devices Inc. — three companies working harder than nearly anyone to weave artificial intelligence into their products — are finding that investor expectations for the technology are hard to meet.

2) Six in 10 swing-state voters say President Joe Biden bears responsibility for a surge in migrants at the US-Mexico border, a downbeat signal for his reelection prospects as Republicans largely avoid blame on the issue, a Bloomberg News/Morning Consult poll found.

3) Elon Musk’s $55 billion pay package at Tesla Inc. was struck down by a Delaware judge after a shareholder challenged it as excessive, a ruling that would take a giant bite out of Musk’s wealth and put the fate of his companies in question.

See omnystudio.com/listener for privacy information.

U.S.-Iran Tensions Rise; Musk's Brain Chip Implant

Tue, 30 Jan 2024 10:27:43 +0000

On today's podcast:

1) Iran urged the US to use diplomacy to ease tensions in the Middle East, as Tehran braces for a military response to a deadly attack on an American base over the weekend.

2) US earnings grab the limelight later as the busiest week so far of this reporting season moves up a gear. Microsoft Corp. and Alphabet Inc. will offer the first evidence of whether the bullish sentiment around the so-called Magnificent Seven looks sustainable.

3) Elon Musk said that the first human patient has received a brain implant from his startup Neuralink Corp., a significant step forward for the company that aims to one day let humans control computers with their minds.

See omnystudio.com/listener for privacy information.

Tensions Rise as US Troops Killed; Earnings & Fed Decision This Week

Mon, 29 Jan 2024 10:32:52 +0000

On today's podcast:

1) Iran sought to distance itself from a deadly attack on a US base in Jordan by a Tehran-backed militia, as President Joe Biden faced mounting pressure to order a harsh response against the Islamic Republic.

2) China Evergrande Group received a liquidation order from a Hong Kong court, setting off a daunting process to carve up the biggest casualty of a property crisis that’s upending the world’s second-largest economy.

3) Nikki Haley vowed to stay in the Republican presidential primary race at least through Super Tuesday while chiding a tabled plan by the Republican National Committee that called for the party to coalesce around Donald Trump.

See omnystudio.com/listener for privacy information.

BONUS EPISODE: A Conversation About Middle East Boycotts Hitting Global Brands

Sun, 28 Jan 2024 01:00:00 +0000

Many shoppers in the Middle East, as well as in Muslim nations like Pakistan are shunning big foreign brands, driven by a wellspring of anger against Western countries for their support of Israel during the war with Hamas. In this special podcast, Bloomberg reporters Leen Al-Rashdan and Salma El Wardany discuss the effects of the boycott movements, speak to those who've changed their spending habits, and to businesses who've seen an increase in sales as consumers make the switch to more local brands. Hosted by Daybreak Europe's Stephen Carroll.

For more from the team, check out the Daybreak Europe Podcast. Every episode delivers the day's top stories, with context, in just 15 minutes. Available every morning by 7am GMT in your feed.

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Daybreak Weekend: Apple Earnings, Jobs Report, Central Banks

Sat, 27 Jan 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we preview Apple earnings and look ahead to the Fed Meeting
In the UK - we look ahead to the Bank of England rate decision
In Asia - we talk a look at the over picture of the Chinese economy

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Intel Shares Plunge; Apple Overhaul in the EU

Fri, 26 Jan 2024 10:32:01 +0000

On today's podcast:

1) Intel Plunges After Forecast Casts Doubt on Comeback Bid

2) Apple Overhauls App Store and iPhone Features to Appease EU

3) US Extends Lead Over China in Race for World’s Biggest Economy

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Tesla Earnings Selloff; Trump to Testify at Trial

Thu, 25 Jan 2024 10:29:26 +0000

On today's podcast:

1) Tesla Inc. shares plunged after Elon Musk’s pitch to look past slower sales growth fell flat with investors. The stock fell 8% in early trading Thursday, after Tesla narrowly missed earnings estimates and warned its rate of expansion will be “notably lower” this year. The company spent all of 2023 cutting prices to boost sales, which ate into profits.

2) Boeing Co. faces a commercial setback after the US Federal Aviation Administration froze planned production increases for its 737 Max aircraft, a move that interrupts the planemaker’s growth ambitions at a time of surging demand and intensifying competition with Airbus SE.

3) Two days after his decisive victory in the New Hampshire primary, Donald Trump is set to take the witness stand in New York to rebut defamation claims by writer E. Jean Carroll — testing his ability to sway a federal jury and a judge he’s already clashed with.

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Trump Takes New Hampshire; Netflix Blowout Earnings

Wed, 24 Jan 2024 10:40:31 +0000

On today's podcast:

1) Trump Racing Toward 2024 Biden Rematch After New Hampshire Win

2) Netflix Posts Best Customer Gain Since Surge During Pandemic

3) Alaska Air CEO Says Loose Bolts Found in ‘Many’ Boeing Jets

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Instant Reaction: Trump Wins New Hampshire Primary

Wed, 24 Jan 2024 03:30:04 +0000

Former President Donald Trump won the New Hampshire primary, dealing a blow to his only remaining major rival Nikki Haley. Here is special coverage of the results, hosted by Bloomberg's Kailey Leinz and Joe Mathieu.

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Israel Suffers Worst War Death Toll; New Hampshire Primary Kicks Off

Tue, 23 Jan 2024 10:38:53 +0000

On today's podcast:

1) Israel said 24 of its soldiers were killed in Gaza on Monday, marking the worst single-day death toll for the military since the war against Hamas began in October.

2) New Hampshire’s primary Tuesday is the stage for a crucial showdown between Donald Trump and Nikki Haley — the last major challenger standing between the former president and the GOP nomination.

3) Bill Gross has some advice for the Federal Reserve: stop winding down its balance sheet now, and start cutting interest rates in coming months to avoid recession.

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DeSantis Drops Out Reaction; Wall Street Record Territory

Mon, 22 Jan 2024 10:42:53 +0000

On today's podcast:

1) DeSantis Pulls Out of Presidential Race, Backs Trump

2) Israel’s Netanyahu Rejects Hamas’s Terms for Hostage Release

3) Stocks Rally as Wall Street Set to Build on Record

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Daybreak Weekend: Netflix Earnings, Central Bank Decisions, New Hampshire Primary

Sat, 20 Jan 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we preview Netflix earnings and look ahead to inflation data
In the UK - We look ahead to the first European Central Bank meeting of the year
In Asia - will the Bank of Japan end the World's last negative interest rate
In Washington - we head to New Hampshire for the country's first primary election of the 2024 Presidential race.

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Middle East Tensions Escalate; Government Shutdown Averted

Fri, 19 Jan 2024 10:32:07 +0000

On today's podcast:

1) Houthis Fire Missiles at Another US-Owned Ship in the Red Sea

2) Congress Approves Funding to Avert US Government Shutdown

3) Apple to Get First Taste of Shopper Demand for $3,499 Vision Pro

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Oil Gains as Middle East Tensions Rise; Apple Watch Update

Thu, 18 Jan 2024 10:30:47 +0000

On today's podcast:

1) The US launched more strikes on Yemen’s Houthis overnight as the Iran-backed militant group continues to roil global shipping markets with attacks around the Red Sea.

2) Oil nudged higher as twin incidents in the Middle East underlined the region’s rapidly escalating tensions, which have already snarled global shipping and carry the potential for interruptions to crude production.

3) Apple Inc. will begin selling versions of its Series 9 and Ultra 2 watches without a blood oxygen feature in the US, following a legal setback in its patent dispute with Masimo Corp.

Full Transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with rising tensions in the Middle East. The US carried out more strikes on Houthi targets in Yemen overnight, as the Iran backed militant group continues to go after red Sea shipping. This is at least the fourth US led attack on the Houthis in the past week. Major General pat Ryder speaks for the Pentagon. The objective here was to disrupt and degrade Hoothy capabilities to conduct attacks, and we believe that overall, in terms of the scope and the number of strikes that we took, we have degraded their ability to attack. Pentagon spokesman pat Ryder says the US targeted fourteen Hoothi missiles that were primed for launch. Meanwhile, Nathan Pakistan's military has carried out strikes against what it describes as terrorist hideouts in Iran. The move came after Iran attacked a separatist group in a Pakistani province along its border. Bloomberg's Middle East Economics and Government editor Paul Wallace says the escalator is very unusual. The two have a complicated but normally quite cordial relationship. This is pretty much unprecedented what we're seeing now with both of them striking each other's territory. Of course, they're not going for the other government as it were, They are going for what they call our terrorists in each other's territory. But I think what we're seeing is this is just the latest arena opening up in the wider Milesian conflict that began in early October when Hamas attack Israel, and Bloomberg's Paul Wallace says Pakistan is recalling it's envoy from Tehran. Well here in these latest incidents in the Middle East have oil on the rise. This morning, checking Nimax crewed, it's up eight tens of one percent. It's seventy three dollars fifteen cents per barrel. Meanwhile, the International Energy Agency says global oil markets are likely to remain reasonably well supplied this year, provided there are no major disruptions. Well, Nathan and the political front at home, the long awaited conversation between President Biden and congressional leaders over Ukraine AID did not yield results in Bloomberg said. Baxter has the story the GOP issue going in border border border at House Speaker Mike Johnson says that's what he talked about. I told the President what I have been saying for many months, and that is that we must have change at the border, substantive policy shame and says that was not in the offing. Different picture from Senate Majority Leader Chuck Schumer. If we don't come to Ukraine's aid that the consequences for America around the globe would be nothing short of devastating, and President Biden says he told congressional leaders that they must act now on the border. At Baxter Bloomberg Radio, all right, ed, thanks. Secretary of Saint Anthony Blincoln has been representing the US at the World Economic Forum in Davos this week. He left Switzerland yesterday, but not before a delay on the tarmac. There was an oxygen leak on his Boeing jet and it couldn't be fixed, so a smaller jet had to be flown in from Brussels to take b Lincoln back to Washington. Many of his aides and members of the press pool had to fly commercially well. Speaking of DeVos, Nathan Bloomberg News has been speaking all week to executives and politicians from around the world at the World Economic Forum This morning, we caught up with the CEO of Barclays Csvakata Krishnan defended his firm's investment banking division. We are the leading investment bank domicide outside of the United States, and what I find in my travels, especially in the world and the geopolitical world in which we live, is people are looking for a partner in a counterpart who's not just a US bank. Cs Venkata Krishnan ed of that Barclays has been reviewing its strategy for months. He spoke with Bloomberg's franc In Laqua at the World Economic Forum in Davos. All turning to Wall Street, Karen investors are waiting for another key economic report as doubt grows on when the Fed will start cutting rates. Let's get the latest with Bloomberg's John Tucker. John and Nathan Jobless claims could be particularly telling now that seasonal layoffs around the holidays are largely complete. Bloomberg Economics says there have been plenty of signs the labor market is weakening fast. This data comes as traders have recalibrated their wagers and the timing and extent of indust rate cuts. The swaps pricing shows the chances of a FED rate cut at March. Slip blows sixty percent for the first time since the middle of December. That's down from eighty percent just on Friday. The poly see sensitive two year yield jump fourteen basis points on Wednesday, its biggest one day gain since June. I'm John Tucker, Bloomberg Radio. All right, John, thanks. In corporate news, Apple we'll sell it smartwatches without a blood oxygen feature in the United States after it lost a legal dispute with the health technology company Massimo. The new models will still include the blood oxygen monitoring tool, but it won't function. And in another blow to Apple, Karen Netflix says it's not planning to launch an app for the Vision Pro headset. This is a sizeable omission for the thirty five hundred dollars technology, which debuts next month. Apple's banking on entertainment content to help market the Vision Pro. Netflix is a must have streaming service for many consumers, and staying in the tech sector here Nathan Cheryl's sen Berg, we'll step down from the board of Meta Platforms this year. We get more from Bloomberg's Doug Prisner. Sandberg joined Facebook in two thousand and eight as second to co founder Mark Zuckerberg, and she served as chief operating officer, helping to grow Facebook from a promising internet startup into a digital advertising powerhouse. Sandberg often served as the public face of the company, particularly among policymakers and regulators. She left the COO roll in twenty twenty two, but remained a director. At the same time, Sandberg began spending more time on philanthropic efforts. Now she'll serve as an advisor to Meta. It's unclear if Meta plans to replace Sandberg on the board. In New York Time, Doug Prisoner, Bloomberg Radio Hall, Ry Nathan, Thanks, it's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, good morning, Good morning, Karen. The Senate is set to hold a series of votes on the final passage of that stockgap funding bill. Senate Majority Leader Chuck Shutmer says it's next up to the House. We hope that the House will take up this bill before the Friday deadline, with bipartisan support. The stopgap funding bill is expected to easily pass the Senate today. The funding deadlines tomorrow night. The New Hampshire primary only days away. Nikki haley 'ron de Santa's trying to push ahead after Donald Trump's commanding performance in Iowa. Bloomberg Senior national political correspondent Nancy Cook tells us Donald Trump has turned his focus now to Nicki Haley. Trump is sending out missives about Nikki Hilly. They're advertising against her. He's doing rallies and what he's going to and he and his team are going to spend the week doing is really calling out Nikki Hilly on a bunch of policy positions past date means she's made on raising the retirement age, what she has said on China, and it's really going to be vicious for the next week. Bloomberg Senior national political correspondent Nancy Cook says Haley does need a strong showing in New Hampshire before moving on to her home state of South Carolina, which Cook says is Trump Country. The anniversary of the Supreme Court decision overturning Roe v. Wade comes up on Monday. Senate Democrats held a briefing on the state of abortion rights in the US, and they were joined by doctor Austin Dennard, an obgyn in Texas. We no longer have the basic human rights for freedom and self determination that my mother and her generation relied on for nearly fifty years. The lawmakers suggested the vast majority of Americans support the right to abortion, and that it should be women making decisions about their pregnancies, not politicians or judges. Fourteen Democrats are joining House Republicans and denouncing President Biden's border policies. A GOP resolution passed in the House yesterday with full Republican support, urging Biden to end what they call his administration's open border policy. Former President Trump says he is the one who should be seeing a payday from the Egene to Carrol defamation trial. A judge overseeing Carroll's defamation trial against Trump threatened to toss him out after Carroll's lawyers complained that he was making comments that the jury could hear global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm Amy Morris, and this is Bloomberg. Karen, All right, Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand. That means whenever you want it, to subscribe to Bloomberg News Now, and you can get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. So nice time. Now for the Bloomberg Sports Update, here's John stash Hour. John Karny can forget about the idea of Bill Belichay coaching the Dallas Cowboys. Mike McCarthy is keeping his job. I'll be back for a fifth season. He's certainly had regular season success in Dallas, not so much in the postseason, where he's one to three, and of course the Cowboys were just upset at home by Green Bay. As for Belichick's old job in New England and now belongs to Gerard and Mayo, he was a former Patriots player and assistant coach. He actually had it written into his contract that he will replace fellowchick. I'm not trying to be Bill. I think that Bill is his own man. If you can't sell by now, I'm a little bit different even up here. But what I will say is, you know, the more I think about, the more I think about, like the lessons side I've taken from Bill hard work works. Mayo gets the job at the age of thirty seven. Trade the NBA Toronto, who made a big trade with the Knicks, recently made another one with Indiana. Sidney two time All star in Pascal Siakam to the Pacers for Bruce Brown and three first round draft picks. The Raptors then won by twenty four over Miami. The Celtics won easily over San Antonio once seventeen to ninety eight, and the Celtics are now twenty to zero at home. Lakers beat Dallas, Knicks beat Houston, Portland a two point win over Brooklyn College Basketball Yukon number one in the country now sixteen and two with a win over Creighton at the Australian Open. The top seat on the women's side, Aschiantek had some troubles but got by Danielle collins Ken's fish. There were bloomberg sport from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Geopolitical risk has certainly not gone away for markets, but now it's getting even more attention following the latest US strikes on Hoothy targets in Yemen. There was another round overnight. Now Pakistan is engaged in tit for tit attacks with the Hoothy's main backer, Iran. All this as the war between Israel and Hamas rages on in Gaza. So for the very latest, we are joined by Bloomberg News Senior editor Bill Ferries. Bill start us off with the latest on these US strikes against the Houthies. What's the latest, Hi, Thanks for having me, Nathan ut overnight. It's just been a busy past several hours. Overnight, the US launched strikes on what it said were fourteen Houtie missiles and Yemen that they said presented an imminent threat to vessels in the region. They said these missiles were basically loaded and ready to be fired off, and that the US was acting preemptively to target them and destroy them before they could do more damage. It's the fourth round of US strikes or US led strikes on Yemen over really about the last week or so, and it came just hours after the UTIES managed to launch another attack on a commercial vessel, a US owned vessel in the Red Sea. So I think what we've seen is that these multiple rounds of attacks have not prevented the HUTIES from being able to still get some strikes in against ships in the Red Sea, and that of course has been a big disruption for global trade. You've got a lot of shipping companies trying to re route around the around the Tip of Africa or find other ways to get their goods to market, and we're seeing modest movement in the oil market in light of these latest attacks. Is there a risk now that the US could be drawn even further into action in Yemen, given that we are still seeing the HOO, the THEES managing to carry out strikes in the Red Sea. Yeah, I mean, I don't think there's nobody really at this point talking about some kind of a ground invasion or anything, but there are you know, the US and its allies have a lot of firepower based in the Red Sea. At this point there aren't nearly as many commercial vessels going through there, but they're still unable to stop these kind of attacks, and you have to start wondering how long can this go on? How long will global trade be disrupted, When will that really start to emerge in the prices that consumers pay for a whole range of goods, and what of course will be the human cost on all this. But it's certainly seems at this point that this could drag on for weeks, if not months, and this raises a question as well about whether Iran can bring any influence to bear here. But now we're seeing Iran engaged in attacks with Pakistan, and of course it continues to back has Balan of course Hamas in Gaza exactly, and they're actually even on top of all that, there was an Iranian attack on a facility in northern Iraq just a day or so ago. But yeah, the latest we found that Pakistan had a reprisal attack against Iran overnight responding to attacks from Iran. On Wednesday, they hit targeted strikes on what they said were militant hideouts in Iran. And this is not something that really anyone was really predicting. Even a weaker or so ago, you'd have Pakistan and Iran involved in some kind of a conflict. It does look like now that both sides are trying to find a way to talk each other down. You even have the Pakistan Army saying that it's a time for dialogue. It was a similar message coming out of Pakistan's Foreign ministry today. But it is a very unsettled situation, and of course both sides have to play to their domestic political constituencies. So while there is some expectation that maybe there's been a proportionate response and things will start to ease, there's no certainty of that at this point. And of course a Pakistan and Iran both have the support and alliance with China. Is there a role for China here in trying to bring some of these tensions in the Middle East down from a boil. Yeah. Publicly, China is not saying very much other than that it's tracking the developments and they said they want both sides to exercise restraint and calmness. But I would think you would think behind the scenes, China does not want to see two of its kind of key allies in that region fighting with each other. That's a big distress for it, I think. I think so far China has been happy to see the US taking the lead in places like the Red Sea. It has not engaged with the Israel Hamas conflict very much at all. But it doesn't want to see its partners starting to fight, you know, and militarily start to go after each other in such a critical part of the world. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app. Serious XMVI iHeartRadio app and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Progress Made to Avoid Government Shutdown; Lagarde Talks ECB Rate Cuts

Wed, 17 Jan 2024 10:47:13 +0000

On today's podcast:

1) Treasury Secretary Janet Yellen called on lawmakers to pass a temporary spending bill this week and avert a partial US government shutdown.

2) The European Central Bank is likely to cut interest rates in the summer, according to President Christine Lagarde. Interviewed at Bloomberg House in Davos by Francine Lacqua, she was asked if there could be majority support for such a move, given that several policymakers have signaled that timing.

3) Apple Inc.’s iPhone dethroned Samsung Electronics Co. devices to become the best-selling smartphone series over the course of 2023, the first time South Korea’s largest company has lost the top spot since 2010.

Full Transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin in Washington. That's where a temporary spending bill to avoid a government shutdown this weekend has cleared its first hurdle. Bloomberg's Amy Morris has more from the nation's capital. The Senate voted to advance the measure that will fund some federal agencies through March first and others through March eighth. The interim funding is the support of congressional leaders, including House Speaker Mike Johnson, so the prospects for passage in both chambers are good. Does not include several disputed items like eight for Ukraine restrictions along the US border or an eighty billion dollar business tax package. And there are hard right conservatives in the House who oppose funding agencies at current levels, but Speaker Johnson can bypass them by relying on Democrats for support. In Washington. Amy Moore as Bloomberg Radio. All right, Amy, thanks well. Now to the latest on the race for the White House. It's on to New Hampshire for the Republican candidates, and Bloomberg's at Baxter reports are really starting to heat up. Nicki Haley has been very careful not to directly attack Donald Trump, but one day after Iowa as she's calling him a bully and a liar. Trump lamb based Haley as a disaster. Now this all comes with polling that chowse the two very close. In New Hampshire, Real Clear Politics has Trump by about fourteen points, but the American Research Group even called it dead even at forty four percent, with Ron Desatus at only four percent. Tomorrow's schedule debate has been canceled because Haley declined if Trump wasn't going to be there at Baxter Bloomberg Radio, Okay, and thanks. Now let's turn to the Middle East. Israel and Hamas have reached a deal to deliver medicine and other aid to Gaza. That's according to the government in Kadra, which says this is in exchange for medicine reaching the hostages being held by Hamas. White House National Security Advisor Jake Sullivan says there is still a risk this war widens to a regional conflict. We do see a pathway to a shift in the military campaign in Gaza, a reduction in tensions and the exchange of fire along Israel's northern border, a reduction in the risk of escalation in other parts of the region, and we'll have to continue to deal with the Hoothi threat. National Security Advisor Jake Sullivan spoke from the World Economic Forum in Davos. Israeli President Isaac Herzog plans to bring the families of hostages to the slopes in Switzerland today to step up pressure for their release. Well, Nathan, back here in the US, we are waiting for a key economic group board as doubt grows on whether the FED will start cutting rates as soon as March, and we get the very latest with the Bloomberg's John Tucker, John and Karen. Retail sales probably increased in December. However, the control group sales, which strip out volatile items, that likely slowed to a more subdue pace. Traders are launching on every piece of data as the FAN enters a blackout period next week. Yesterday, Federal Reserve Governor Christopher Waller threw a little cold water around the idea of FED rate cuts as soon as March. With economic activity and labor markets in good shape, and inflation coming down gradually to two percent, I see no reason to move as quickly or cut as rapidly as in the past. With Wallner's comments, Transury suffered their biggest one day price drop in two months. Yield Seweragetan also drag stocks lower. John Tucker Bloomberg Radio, John thanks, rates are very much in focus overseas that the World Economic Forum. European Central Bank President Christine Legard said the ECB will probably cut rates by the summer. I would say it's likely too, but I have to be reserved because we're also saying that we are data dependent and that there is still a level of uncertainty and some indicators that are not anchored at the level where we would love to see them. ECB President Leaguard made those comments to Francine Lockwha at Bloomberg House in Davos. You can hear their full conversation on the Bloomberg Talks podcast. Well Nathan investors are scaling back their expectations for rake cuts from the Bank of England this year. Inflation in the UK unexpectedly accelerated for the first time in ten months. December's consumer price index was four percent higher than the previous year. On Wall Street, Karen JP Morgan Chase is bucking a trend, the bank plans to hire more workers. We caught up with JP Morgan president Daniel Pinto at Davos. We are employed at the end of the year around three hundred and twenty thousand people. So the number of people that employ has been growing and not ranking. So I think that where we see opportunities and we can have our clients, for sure, we'll focus on that. Daniel Pinto's comments come after JP Morgan closed out the most profitable year in US banking history. Also more banking news this morning, Nathan, the government is unveiling a long awaited rule that could slash the biggest bank's income from overdraft fees by as much as three and a half billion dollars each year. Under the regulation from the Consumer Financial Protection Bureau, banks would only be able to charge what it costs for them to break even for covering an overdraft or a bu by a specific cap that would effectively eliminate overdraft charges for customers, which right now average about thirty five dollars. Let's turn to some corporate news now. Karen Apple has reached a milestone. The company's dethroned Samsung to become the world's top phone maker in twenty twenty twenty three. IDC estimates the iPhone accounted for a fifth of the global market last year with close to two hundred thirty five million shipments. Apple's dominated recent holiday quarters, but the full year surge is unprecedented, and it suggests Apple is weathering an industry wide slump better than its rivals. And finally, Nathan, it was supposed to be the merger from Heaven, or at least from thirty thousand feet, but now a federal judges block Jet Blues three point eight billion dollar acquisition of Spirit Airlines. The judge says the combination with stifle competition and raise fares for consumers. Jet Blue and Spirit contended that consolidation is the only way smaller airlines can effectively compete with the dominant carriers. Time and not for look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris Amy, Good morning, Good morning, Karen. President Biden is worried about his supplemental bills stalling out in Congress, so he's inviting some of the key players to the White House today. Bloomberg's Nancy lyons with the latest. White House Press Secretary Karine Jean Pierre provided a list of those invited to the meeting, and then Biden will host congressional leaders from the Senate and the House, along with key committee leaders and ranking members. She says there's a lot to talk about, but President Biden has one topic he's especially concerned with. This is going to be about discussing critical importance of the President's Facial Security supplemental request. That's the proposal to further fund Ukraine, Israel, and Taiwan. Republicans are refusing to move on that until there's a consensus on a new border policy in Washington. Nancy lyons Bloomberg Radio. Secretary of State Anthony Blincoln says soil should be treated as a precious resource, telling the World Economic Forum in Davos that lack of food is causing unprecedented global migration flows at Russia's war in Ukraine and attacks by who they rebels and the Red Sea have made things worse. A parent who can't put food on the table for their children picks up the family and moves because it's the most basic thing, the most important thing that they can do. Lincoln says, the problem is likely to get worse as climate change threatens to reduce crop yields. Now Climate Envoy John Kerry, also at the World Economic Forum, says he's stepping down from the role within the Biden administration so he can take on a more vocal position for the Biden campaign. He assured other world climate leaders that yes, he'll still be around. I'm going to stay at this and there are so many different ways to continue to be able to be engaged in this. So unfortunately you're stock. You'll see me at the copy you see. Rivia Carrie says regardless of who wins the election, the global climate agenda will remain solid, and the World Health Organization says the number of adult tobacco users is on the decline. The organization says the biggest decrease in tobacco use is seen happening in lower to middle income countries. We have nineteen million less smokers than we had two years ago. That is the first time that we see such a decline. Doctor Rudiger Kresh is urging countries to continue putting control policies in place for tobacco. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg Karen. All right, Amy, thank you. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines of the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Charny Atlanta Falcons, one of seven NFL teams looking for a head coach at indications that the Falcons are looking for a big name to be their new coach. The day after they interviewed Bill Belichick, they interviewed Jim Harbaugh, who previously had already interviewed with the Los Angeles Chargers. So Harbaugh clearly hasn't interest in returning to the NFL and leaving Michigan, where he just won a national championship. Reportedly, Harbaugh if he stays with Michigan wants it written into his contract that he can't be fired due to NCAA violations. Mike Tomlin has reportedly told his team in Pittsburgh that he'll remain as coach of the Steelers. It's the job he's had for seventeen years. The Steelers had only had three different head coaches in the last fifty four years. Jason Kelsey told his teammates in Philadelphia just after that blowout loss at Tampa Bay at the end of their season that he's retiring at age thirty six, thirteen years all with the Eagles. He won a Super Bowl, He went to the Pro Bowls seven times. Taulliat tadabaloo. That's to his younger brother, who's been playing quarterback for Maryland. Denied a waiver for another year of eligibility, so he journing the Pro Battle. The NBA's top two big man and Joe lmb And outplayed the Kola Yokiz. He scored forty one points in the second straight game. Philadelphia beat Denver one twenty six one twenty one big comeback and Phoenix, led by Kevin Durant, they were down twenty two to the fourth court of the Sun's rallied top Sacramento by two. Hockey of the Capitals are two nothing to win over Anaheim, kyl and Shops second right, Purdue an easy win at Indiana. John Skashanwer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on siriusxam, the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. European Central Bank President Christine Legard says aggressive bets on interest straight cuts from the financial markets are not helping policymakers with their task to bring down inflation, but she says it is likely the ECB will cut rates in the summer. Madame Lecguard spoke with our editor at large France seen Lockwow from the World Economic Forums Bloomberg House in Davos, Switzerland. Let's listen in to part of that conversation. Now, when you look at inflation, when you look at monetary policy, what's changed your mind on how quickly we get a cut from the ECB? You know, when I look at a year ago in doubles and when I compare that with where we are today, I see a slope downward, but certainly not a slope which is at target where we want it. So that's what we have achieved. I think in a little over a year, bring inflation back from where it was in October twenty two at ten point two percent down to a two point nine percent month and month December, and certainly with the prospect of keeping it down and further down because our target is two percent and we are you know, I would have said a year ago that we are determined we want to get it to SI I would say to you now that we are confident that we will get it to that target two percent medium turn. Are market's too optimistic on the industry. I'm not going to comment on markets. Markets do their job, they have their numbers, they have their objectives. What we do at the CB, and what I think most central banks would do, is work as hard as we can collecting data using artificial intelligence by the way for that, analyzing data, confronting viewpoints, checking models against empirical data, doing scenario analysis, and being as as comprehensive as we can to anticipate what's coming. And it's hard because what many people don't understand is that monetary policy works with a lag. So whatever we do now is going to have an impact in a few months and sometimes a year or two, and we have to take that in account to decide what we do, how long we hold, and what decision we make in due course. When you say that you gather data also with AI, it does AI also analyze because again you're looking at the current data. You're trying to forecast what your monetary policy is doing in the future. So is it algorithms? Like, how does that work? We do data collection a lot, we don't We don't determine monetary policy using algorithm and artificial intelligence. And I think that time we can check with the AI experts, of course, but I don't think that that time has come yet. When you look at again the forecast, and I understand you're not focused on the market, but if the markets prices that are not focused, we look at them, we look at what they say. We are attentive, but everyone has their job and we cannot, you know, sort of second guess what they will think that we are thinking that they are second guessing. I mean, it's it's a catch twenty two job, right, But if the market is too optimistic about cuts, does it actually hurt and not help the fight against inflation by doing that? I was going to ask you that, So it makes sure your job harder if if they're actually mispricing what you're trying to tell them, it is not helping a fight against inflation. If if the anticipation is such that you know, they are way too high compared with what's likely to happen. Is it too early to cry victory against inflation? How do you see it behaving? We are on the on the right path, We are directionally towards the two percent. But unless and until we are confident that it is sustainably at two percent medium term and we have the data to you know, support it, I'm not going to shout victory. No, not yet. How much is the inflation reduction thanks to your monetary power and how much of it is like, No, I wouldn't call it luck. I think two factors have played a critical role, and it's the decline in energy prices that we have observed. You know, energy prices pushed prices up massively, and energy prices decline of course has a similar impact. So that's number one. Number two the bottlenecks that we have observed as a result of COVID in particular, and which lasted quite a lot of quite a long time, has gradually faded out, and that also had an impact, you know, more supply, more availability of goods. Second factor. The third factor is monetary policy, and it's undoubtedly been effective, if only to anchor inflation expectations, which we know is really important. So it has had an impact on inflation itself, but it has definitely had an impact on inflation expectations, which by all accounts and all surveys and all measurements have come down and are really now broadly onto that two percent medium term target that we have. I know it's obsessive two percent medium term targets, but yeah, that's what it is. Yeah, but at least it's auld guide the markets, right, I mean, it's good to be upsetsed. Well, if they don't know that that's what we are aiming for, then they need to have the head examined, that's for sure. And then again talk to me a little bit about wage bargaining. So again is that going to be on the upside and could that change you know, the timing of a possible work. Well, I'm glad you mentioned wages in general, wage bargaining in particular, and I'll go to that, but I want to tell you that there are three things that I'm watching carefully. Wage bargainings, profit margins, energy prices, and hopefully not but the coming back of supply bottom Miex. Those are four key components which could have a serious impact on the work that we're doing against inflation. But back to your wage question. Wages have gone up, but relatively slowly, so in prices have gone up earlier and faster than wages, so we are now facing a moment of not only some degree of alignment, but catch up as well. So employees have lost purchasing power in the course of twenty one twenty two, and there is now a catch up effect in the bargaining discussions that are taking place. We will know a lot more, probably in April May, because the numbers the bargaining agreements are being negotiated in the first quarter of every year, and the results come in after the agreements have been closed, so that gives us indication that we can corroborate and verify in the late spring, I would say of of twenty four, that will be a strong indication our wages slowly catching up, and that catch up process will take place over the course of two or three years possibly, or is there a very strong catch up coupled with an alignment with inflation, which would give me concern because while we're not seeing today's second round effect, that could be the result of this sort of twofold process. Are you confident there will be a cut this year in interest rates? Confident? I'm confident that short off another major shock, we have reach reached a peak. Okay, Now we have to stay restrictive for as long as necessary to make sure that we get to that state where we're all saying, okay, confident that it is at two percent medium term. I know some people argue that maybe we are overshooting, maybe we're taking risks. I think the risk would be worse if we went too fast and had to come back to more tightening, because we would have wasted all the efforts that everybody has put in the last fifteen months. The US election, Yeah, let me have some coffee. How arid are you about the US election? It's for the American people to decide what they want with their politics, with their government. With their future. But obviously we are all concerned about it because the United States is the largest economy, the largest defense country in the world, and has been a beacon of democracy with all its upside and downside. But this is what they should be considering, and of course we cannot interfere with their choice. It's their choice and that's the beauty of democracy. But we have to be extremely attentive and anticipate, just as we do with inflation. You know, we do scenarios. What if, what if? Then what do we do? Because that's the real question. And you know where I sit now in Frankfurt, head of the ECB, I think that we have to be strong as Europeans and not assume that we can rely on whoever our friends are around the world, because these things change over the course of time, as we have seen. So what if Donald Trump gets into the White House, what are some of the policies that europe could be put in place to not be cut also between China and the US with Donald Trump and the White House. Well, for one, it has to be strong of its own and if I look at my own shop, because it matters to monetary policy transmission, I think that and you will hear that from others. We have to accelerate capital market union. We need financing in Europe. There is a lot of saving in Europe, and we have to make sure that those savings actually stay here to finance what needs to be financed, which is predominantly the climate transition, which is digitalization, which is enough industrialization conducted with a targeted approach so that we can on the key in the key areas be self sufficient. Are there policies that you would put in place now for Europe to I guess counter the US exceptionalism, which you know could be questioned going forward. I think I would accelerate many of the initiatives that have been taken, and I would encourage European leaders to put aside a little bit they respective idiosyncraty idiosyncratic differences to be more together because you know, it's a question of off size and scale, and Europe is a very large market, has a very sizable population, has capacity to innovate, has financing. It has to you know, be a little bit more cohesive together and forward looking. This is Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak and be

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Trump Dominates Iowa; Highlights of Davos

Tue, 16 Jan 2024 10:45:27 +0000

On today's podcast:

1) Donald Trump tightened his grip on the Republican presidential nomination after Iowa voters delivered him a victory in Monday’s caucuses and moved him one step closer to returning to the White House.

2) Microsoft Corp. Chief Executive Officer Satya Nadella said while he wants consistency and good governance at partner OpenAI, he’s not worried about the company’s nonprofit structure and doesn’t want greater control over his partner.

3) Slashed earnings estimates are creating the optimal platform for US companies to beat expectations this earnings season, according to Morgan Stanley’s Michael Wilson.

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Daybreak Holiday Special: Oil Outlook, Mester Speaks, Bank Earnings

Mon, 15 Jan 2024 10:00:00 +0000

In this MLK Day Special edition of Daybreak, we look at the global outlook for oil after the airstrikes in Yemen. Plus, Cleveland Fed President Loretta Mester says March is probably too early for a rate cut. Hosted by Nathan Hager.

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Daybreak Weekend: Davos Preview, Oil Volatility, Mester Speaks, Iowa Caucuses

Sat, 13 Jan 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we preview the week's upcoming economic data, including retail sales.

In the UK - we look ahead to the World Economic Forum in Davos

In Asia - we discuss the current climate for chipmakers in China

In Washington - with the Iowa caucuses right around the corner, new polling suggests that the Republican race is tightening.

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US and UK Strike Yemen’s Houthis; Wall Street Awaits Bank Earnings

Fri, 12 Jan 2024 10:31:17 +0000

On today's podcast:

1) President Joe Biden faces the biggest test yet of his ability to avert a wider war in the Middle East following US-led air strikes against Houthi rebels in Yemen aimed at halting their campaign of attacks on shipping traffic in the Red Sea.

2) After a rally in global bank stocks at year-end, the largest US banks need to show results that support their improved valuations.

3) After years of anticipation, the first US exchange-traded funds that invest directly in the biggest cryptocurrency have begun trading. Billions of dollars changed hands Thursday and the token briefly surged past $49,000 following the US Securities and Exchange Commission decision to grant them approval after markets closed on Wednesday.

Full Transcript:

Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Oil is surging this morning. It's up about three percent, trading at seventy four dollars twenty three cents for a barrel of West Texas Intermediate. That's after the US and Allies launched more than sixty air strikes overnight on Houthy targets in Yemen. They're trying to stop the Iran back groups shipping attacks in the Red Sea. Bloomberg's Nick Watams has more on the challenges ahead for the White House. The challenge for Joe Biden is he said, they wanted to deter the Uthies, but they also don't want to ignite a wider war. And the question is whether the Huties will stand down let's see if somewhat unlikely, or use this as a rallying cry told me, pursue their aims both against Israel and CEC's firing Gaza and against the United States in the Dallies. Bloomberg's Nick Watams reporting the Hoothie say the attacks killed five of their members and wounded six others, and they are promising the strikes will not go unanswered. Well back here in the US, Nathan, closing arguments have been delivered and now oh, we wait for the judge's decision. And then. A New York civil fraud trial of former President Donald Trump and Bloomberg's Amy Morris reports New York Attorney General Letitia James is seeking three hundred and seventy million dollars in fines and to bar Trump from the New York real estate industry. No matter how powerful you are, no no matter how rich you are, that no one is above the law. Appeals are likely, but this case could end Donald Trump's role in New York real estate for good. Trump spoke out in court attacking the judge overseeing the case and Attorney General James. Later, he gave a press conference outside the courtroom. He's a political hack, the attorney general. The judge is obviously extremely friendly with the group the Attorney General's office, as Trump orchestrated a sweeping fraud in which he inflated his net worth to obtain favorable loans. The judge expects to rule by January thirty first, Amy Morris, Bloomberg Radio, Okaymie, thank you. Meanwhile, President Biden's son Hunter May face a trial of his own this summer, right in the middle of his father's reelection care campaign. Hunter Biden has pleaded not guilty to charges that he failed to pay taxes on millions of dollars in foreign business income that followed the collapse of a plea deal last year. The judge in Los Angeles says he's considering a June twentieth trial date. Well. Turning to the markets now, Nathan, we continue to watch bitcoin. Following yesterday's historic Wall Street debut, the first US exchange traded funds investing directly in the largest digital currency finally went live, and we get the latest from Bloomberg's John Tucker, John and Karen. The batch of almost a dozen funds, including offerings from investment powerhouses black Rock and Fidelity Investments, got off to a strong start with two point three billion dollars exchanging hands the gray Scale Bitcoin Trust, so the largest ever first date turnover for an ETF. Gray Scale Investment CEO is Michael Sonenshein is just such a historic moment, in such a milestone, So thrilled, feeling really good today black Rock ice Hears Bitcoin Trust saw a billion dollars change hands that's the fifth largest ETF launch on record. Several firms turn to fee waivers in a bid to stand out, offering their ETFs for free for the first six or twelve months. One of the next stages of Wall Street adoption it's going to be when options tied to these ETFs are approved. A bitcoing this morning down about half a percent to about forty six thousand dollars. John Tucker, Bloomberg Radio, all right, John, thank you. Another focus for investors this morning turns to earnings, specifically bank earnings. With four of Wall Street's biggest reporting today, we get a preview from Bloomberg SHINELI, BASEK. Investors will be watching for what the cost base looks like. Has it gotten more expensive to operate and can they keep those costs in lines under further pressure on certain lines of revenue. Revenue might jump this year relative to last year for some of these banks. Investors will be watching for net interest income expectations at Bank of America, JP, Morgan Wells Fargo, and City Group as interest rates start to stabilize in twenty twenty four relative to the year before. Now, the question is who's the big winner and how many loans do Americans really need and how many of those loans start to go sour? Shanalie Basset, Bloomberg Radio, all right, Chanelle, thank you. On the economic front, we'll get another reading on inflation this morning. The Producer Price Index is forecast who have risen one tenth of one percent in December. The report comes a day after consumer prices rose more than expected. Cleveland Fed President Lorettamester says the latest data may put on top of a possible rate cut on hold. I think March is probably too early in my estimation for a rate decline because I think we need to see some more evidence. I think the December CPI report just shows there's more work to do. And Cleveland Fed President the Rettamester says the latest figures reinforce her view that policy is in a good position to assess incoming data on prices and employment and overseas, Karen Christine Leaguard says the European Central Bank will start lowering interest rates once it's convinced inflation's headed back to its two percent goal. Here's the ECB president speaking through an interpreter on French television. President, I cannot give you a date. But if we win this battle, if we reach the two percent inflation target as we're predicting twenty twenty five, and if it's confirmed by the data in the months to come, if this goes according to plan, and I'm being careful the way I say it, but I'm very confident, then the rates will start going down. And after Christine le Guard spoke money markets adjusted their rate cut bets. They now firmly favor six quarter percent reductions this year instead of five. Well, the UK economy saw a modest rebound in in November, Nathan, gross domestic product rows three tenths of a percent, bouncing back from a drop of the same scale in October. Economists had expected an increase of two tenths of a percent in saying in the UK Karen shares of Berbery are being taken to the cleaners. This morning, the trench code maker slashed its profit forecast due to a drop in sales in the key Christmas quarter. The one point, the shares were down fourteen percent. Now Burbery is lower by about seven percent. All right, Nathan, thank you. It's time now for a look at some of the other stories making news around the world, and for that. We're joined by Bloomberg's Amy Morris Samy, Good morning, Good morning, Karen. A polar vortex is about to unleash an Arctic blast across much of the US this weekend. Bloomberg meteorologist Rob Carolyn tracking the system. Wizard warnings are effective for parts of Iowa, Illinois, and southern Minnesota, while winter storm mornings are an effect for much of the western and central Great Lakes. Win advisories stretch from Texas into western New York and western New England. Floodwatchers are in effect from coastal portions of New England along the coast of New Jersey. Bloomberg Meteorologist Rob Carolyn, and the storm is going to bring with it bitter cold temperatures. On the day of the GOP Iowa Caucus, Florida Governor Ron de Santez is urging his supporters to brave the cold this coming Monday, So I'm asking you to go out there. I'm asking you to brave the elements. Former UN Ambassador NICKI Haley also acknowledged the coming bitter cold, asking for support at the polls. I'm going to be out there and i want you to go out there. Haley has topped Dissantis for the first time in the latest Iowa poll, but former President Donald Trump holds a dominant lead. Now that the Pentagon Inspector General is looking into the secret hospitalization of Defense Secretary Lloyd Austin, the administration is defending its procedures. Bloomberg's Nancy lions at the very latest, the Inspector General will be looking into the process that's being followed for tracking Secretary Austin. National Security Council spokesman John Kirby says there is already a check in every morning that is logged. We're not going to track the GPS coordinates on a somebody's mobile phone in the administration, and we're not going to plan a microchip in their neck like their appoodle. They check in every day and we know where they are. Kirby admits the White House does need to know if a cabinet official becomes hospitalized or needs to delegate his or her authority. In Washington, Nancy lyons Bloomberg Radio. The International Court of Justice is hearing South Africa's case accusing Israel of genocide in its war in Gaza. Francis Boyce is Professor of international law at the University of Illinois and is a legal advisor to the State of Palestine. South Africa presented a solid case. I predict South Africa will win in order against Israel to cease and desist from committing all acts of genocide against the Palestinians. Israel is set to present its case today. Global news twenty four hours a day and whenever you want it with Bloomberg News Now, I maybe Morris in this is Bloomberg caron. All right, Ami, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines if the click of a button, get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stashaur, John Karen What a while twenty four hours of football coaching departures first, Pete Carroll in Seattle followed quickly by Nick Saban and Alabama, and then yesterday morning, Bill Belichick in New England. Between the three, they held their most current positions for total of fifty five years. Saban and Belichick are close friends. In the nineteen nineties in Cleveland, Saban was Belichick's assistant. When Belichick became Patriots coach, he replaced Carol, and in nineteen eighty Carol left his job as defensive back coach at Ohio State and was replaced by Saban. NFL playoffs begain tomorrow Wildcard round with Cleveland at Euston, the Browns quarterback by thirty eight year old Joe Flacco, the Texans by twenty two year old CJ. Straud, and then, in what's expected to be a fringid cold night in Kansas City, it's the Chiefs against the Dolphins tripleheader on Sunday, and then on Monday, Philadelphia plays at Tampa Bay. The Celtics went to Milwaukee, top two teams in the East. It was all Bucks up seventy five to thirty eight at halftime. Milwaukee won one thirty five to one oh two, now twenty six and twelve on the seas in while the Celts dropped to twenty nine to nine. Talk about a blowout. It was Oklahoma City one thirty nine and Portland seventy seven, so the thunder one by sixty two. There was a game in Paris. Cleveland got forty five points from Donovan Mitchell Breet Brooklyn one eleven to one O two. John stansh Eward Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias exam the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. The risk of a wider war in the Middle East is in focus. The US and UK launched dozens of air strikes overnight against Hoothy militants in Yemen. This follows weeks of attacks on red Sea shipping that the Houthis have pledged to contin you until Israel stops the fighting against Hamas in Gaza. For the latest were joined by Rosalind mathieson our Europe, Middle East and Africa news director for Bloomberg News. Ros thanks for being with us once again. Now the Houthis are saying that these new air strikes will not go unanswered. They say, several of their members have been killed. What is the risk of a wider war at this point, well, that is the big question in the aftermath of this. The US had been saying for some days unless the Houthis stopped their attacks on shipping in the Red Sea, that there would be quoite consequences. So in a way they were compelled to do something, and these were very tactical, surgical strikes. The Houthis are saying that the death toll was five on their end and fairly small, and that these stripes were very well telegraphed also, which allowed them to clear out of some of their bases. So it does seem the objective was to make a point to the Huthies without escalating, and the Hoothy's feeling they need to take massive retaliation, or more importantly, their big backers Iran feeling they need to take some kind of retaliatory action. So it seems to have been sort of a calibrated response by the US and the UK, and there are other partners overnight. Of course, it does come though at a time of high tension in the region. You've got the war between Israel and Hamas and Gaza still going on. You've got this disruption to shipping in the area. You've got Hesblah occasionally having rocket exchanges with Israel from Lebanon in the north, and so there's a lot going on at the moment and a high tension environment. And so the question is at what point, if any, do some of these Iranian proxies tip things over into a full scale conflict. At least we can The initial interpretation from these air strikes overnight is that it's not designed to do that. We do have not just the Houthis backed by Iran, but Hesbolah backed by Iran that's been engaged in cross border skirmishes with Israel for months now as well. We are seeing this jump in oil prices. You have to wonder, when we're seeing the possibility of multiple fronts opening up in this war, whether we could see even further risk premium placed on commodities. It was interesting because the main move overnight was in oil and it moved up about two percent or so, but other sort of major assets were fairly calm in the face of this, because again it had been well telegraphed and right now the main thing is that even though there are these disruptions to shipping and there are concerns, particularly about what Iran might do next, supply has not been massively impacted. And it comes at a time, of course, where there are sort of question's over demand at the other end, and so you're not really seeing this long sort of running premium come into either oil or gas. What you are seeing is disruption to supply chains that may escalate and that may start to affect more companies who need to have their parts or products shipped through that part of the world, and that could be a real issue if the Suez Canal comes into the mix further. But it's interesting to not see a massive move so far in oil or gas in recent weeks and even overnight, and that is a signal that the market really seems to think that supply is not currently at risk. In terms of trying to tampen down the tensions in the region, what's the balance that the Biden administration is trying to strike here when we are starting to see these attacks take place, just after Secretary of State Anthony Blinkn had been back in the region trying to urge Israel to lower the temperature with hummies. Well, that's right. He just wrapped up his latest trip, which was his fourth I thinking in quick succession, and he toured the region and he visited a lot of countries to get their sense of things, and then ended up in Israel at the end. But his message has been about ensuring that this doesn't spill over into a broader crisis, messaging quite strongly with a run on that front, but also trying to press Israel to de escalate its conflict on the ground in Gaza, and so far the signs are that Israel's not particularly interested in doing that. They say that their ultimate goal remains the same, which is to make sure that Hamas can never again attack them in the way that they did back in October, and there's work still to be done there. So it seems as though the US is not having massive success getting Israel to listen to them on that front. In Israel says their war in Gaza is likely to go on at least for some months yet, and then the big question about what happens in Gaza obviously when the fighting stops. And so even though Blinken in his trip and other USE officials are sort of touting the desire of everybody to find some stability in all of this. You wouldn't really think that he came away from his latest trip with much to show for it. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg Daybreak

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Bitcoin ETF Reaction; Republican Debate; Trump Fraud Trial

Thu, 11 Jan 2024 10:50:38 +0000

On today's podcast:

1) US regulators for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond.

2) A monthly report on US consumer prices due Thursday will probably show another soft inflation reading thanks in part to more declines in the goods sector, according to Bloomberg Economics.

3) Nikki Haley and Ron DeSantis immediately went on the attack in the final Republican debate before the Iowa caucuses, relentlessly accusing each other of lying and flip-flopping on issues.

4) The judge overseeing New York’s $370 million civil fraud trial against Donald Trump derailed the former president’s plan to make a statement during closing arguments in the case Thursday, citing Trump’s refusal to agree to standard court rules about what he can and cannot say.

Full transcript:

Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. Bitcoin is trading up seven tenths of a percent to around forty six two hundred and forty dollars. This comes after US regulators for the first time approved exchange traded funds that invest directly in bitcoin. It's a move heralded as a landmark event for the roughly one point seven trillion dollar asset sector, and Bloomberg Crypto editor Anna Aurera says it will broaden access to the largest cryptocurrency the hope. Bitcoin proponents and sort of crypto proponents think it's a big deal because it sort of gives easier access to mainstream investors to investing in crypto. One of the big issues with cryptocurrencies is that you need to self custody it, and that that's exposed is used to hacks and people just stealing your asset. In this case, you would have a custodian like coinbase sort of people that do it professionally holding the underlying bitcoin, and you're just buying shares in it. Bloomberg Santa Rara says the sec authorized funds from industry heavyweights black Rock and Vasco and Fidelity to smaller competitors including Valkyrie, to begin trading today. Well, John, reaction is pouring in after the approval of the bitcoin ETF and we come up with SEC Commissioner hester Purse. I'm delighted that we're at the end of this saga. I know there's still there's still u there's still pieces of it to go, but I think this is a big milestone. The decision by hester Perse and the SEC comes a day after a false post on the SEC's x account claiming that the agency had approved the ETFs. The regulator subsequently said that the account had been compromised and OARC Investment Management. Kathy Woods says the approval of the spot bitcoin ETF will be a price moving event long term. She spoke with Bloomberg's Carol Masser after the SEC decision. I was speaking to Eric belchunis her colleague, and according to his estimates, there's there's four billion dollars waiting, you know, in the wings. And I said to him, well, from your lips to God's ears, that would be amazing. Kathy would also slam the SEC Cherry Gary Gensler. She says Gensler denigrated the whole cryptospace by reiterating the agency does not endorse digital assets. Well, we want to turn to the economy now, John, and Wall Street is bracing for the latest inflation report. Economists are forecasting consumer prices rose two tenths of a percent in December. Let me get a preview from Bloomberg's Michael McKee. The question going into the CPI report is who will care? The Fed is already locked into no change at the January thirty first meeting, so and as expected number won't affect the Central Bank's decision. It's the bond market that matters, at least in the short run. Headline inflation is expected to rise a base effect because inflation printed negative in December of twenty twenty two, but core inflation is forecast to keep falling. That's what the Fed wants to see. Michael McKee, Bloomberg Radio. All right, thanks Mike. The ahead of the New York Federal reserves as the interustrates are now high enough to bring down inflation. But John Williams also suggest that policy makers need more evidence that price rises are slowing before they start easing. My base case is that the current restrictor stance in Monte policy will continue to restore balance and bring inflation back to our two percent longer run goal. I'll expect that we will need to maintain a restricted stance of policy for some time to fully achieve our goals, and it will only be appropriate to dial back the degree of policy restraint when we're confident that inflation is moving towards toward two percent on a sustained basis, as New York Fed President John Williams, adding that any rate cuts would be dependent on the path of inflation and the economy. Turning to politics, the gloves were off during last night's Republican debate in Des Moines, Iowa, between Nicky Haley and Ronda Santis. During the debate on CNN, Hailey accused of Santus of mismanaging his campaign. He has blown through one hundred and fifty million dollars. I do know how you do that through his campaign. He has nothing to show for it. He spent more money on private planes than he has on commercials trying to get islands to vote for him. If you can't manage a campaign, how are you going to manage a country? Disantus accused Haley of making misleading statements about her record as governor. That word salad is the problem. Governor says he's always supported school choice and she failed to deliver. She blames other people. Leadership is about getting things done, stop making expect disantisin. Haley also talked about the border Ukraine, aid and abortion, and two people absent from the debate, Donald Trump and Chris Christie, the former New Jersey given or Chris Christie suspending his Republican presidential bid yesterday. From the moment I got into the race, the decision that I made was really simple. I would rather lose by telling the truth then lie in order to win. Christy also said he was going to make sure that he does not enable Donald Trump to ever be president of the U the United States again. Meanwhile, John Trump did not appear at the debate because he was at a nearby town hall. Today, the GOP front runner set to make an appearance in New York at the civil far on trial against him and Bloomberg's Amy Morris hands the latest. Today's hearing will cap a eleven week long trial in which New York Attorney General Letitia James seeks to ban Trump from the real estate industry within the state. Trump wants to deliver a personal statement while in court his own closing argument, but would not agree to the limits the judge said on what he could say, so he won't be allowed, just as Arthur Engern had already held Trump liable for fraud and is expected to deliver a verdict in coming weeks now. In addition to this case, Trump also faces five other trials, including a defamation suit in less than a week. Amy Morris Bloomberg Radio Time Now for a look at some of the other stories making news around the world, and for that were joined by Bloomberg's Amy Morris Amy Good Morning, Good Morning. Care and Transportation Secretary Pete Buddhajet says Boeing's tax nine airplanes airplanes rather, will remain grounded until regulators say that they are safe to fly. That dashes hopes for a quick return to the skies. Our concern and our fidelity is not to the success of any company. It is to the safety of the traveling public. Secretary Buddha judge did not specify how long it could take, but says the process will not be rushed. He adds Boeing has to demonstrate that every planet delivers to airlines is one hundred percent safe. President Biden's son is scheduled to appear in federal court today in Los Angeles on tax charges. Today's hearing will be an arraignment for Hunter Biden, who was accused of choosing not to pay more than a million dollars in taxes and evading other taxes. House Republicans yesterday conducted a hearing to hold Biden in contempt of Congress for defying a subpoena to sit for a closed door deposition, but Hunter Biden made a surprise visit and said he would only testify in a public forum. Biden's attorney, Abby Lowell Hunter chows a hearing we're Republicans or could not distort, manipulate, or misuse that testimony. And Republicans have tried to tie Hunter Biden's business dealings to his father, but acknowledge they have found no concrete evidence of wrongdoing. And former President Donald Trump is staying quiet on who his choice for a vice president might be. Well, I can't tell you that, really, I mean, I know who it's going to be. Give us a hint. I'll give you. We'll do another show sometime. During last night's Fox Newstown Hall event, Trump said he's open to his vice presidential choice being someone who's currently competing against him for the GOP nomination. Experts who identify and manage global risks say there is a high chance of a global catastrophe happening within a decade. The World Economic Forum survey shows nearly two thirds of respondents expect the higher chance of disaster in the next ten years. About thirty percent expect the same in the next two years. The report sites risks from misinformation, a potential recession, and extreme weather events, and a record number of Americans are signed up for the Affordable Care Act. This year, the Biden administration announced more than twenty million people signed up for health insurance plans under ACA, beating last year's record of sixteen million, and that number is likely to increase as Americans have until January seventeenth to enroll Global News twenty four hours a day and whenever you want with Bloomberg News. Now I may me Morris and this is Bloomberg Karen we Amy. Thank you what we do bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. You can just subscribe to Bloomberg and News Now to get the latest headline to the click of a button. You can get informed on your schedule. You can listen and subscribe to Bloomberg and News Now on the Bloomberg Business Now, Bloomberg dot com plus Apples, Spotify, and anywhere else you get your podcasts. And it's time now for the Bloomberg Sports Update. Here's John stash Hour John Ken. To truly appreciate what Nick Saban accomplished as the football coach at Alabama, you have to look at where the program was before he got there. They had a couple of seasons with only four wins, another with three, and he only won seven in his first season on the job. But in his next sixteen years, Saban won one hundred and ninety nine games and lost only twenty three. He won six national championships in a twelve year span, and when you throw in that he also won one at LSU. Saban has to be considered one of the greatest coaches, if not the greatest, in college football history. He's retiring at the age of seventy two. Still at the top of his game. Alabama nearly beat the eventual national champion Michigan in the College Football Playoffs semifinals. Pete Carroll also seventy two years old. He's no longer the coach of the Seahawks. He was great at USC went to Seattle and in fourteen years got the Seahawks to the playoffs nine times, won a Super Bowl. He won fifty one more games than any other coach that the Seahawks have ever had. And now seven NFL teams are looking for a new coach, so that doesn't count. In New England, where seventy one year old Bill Belichick is expected to de park Kawhi Leonard a new deal with the Clippers. He would have been a free agent after the season. It's a three year extension. Ought to make a little under the Supermax Clippers. One last night so to the Celtics in overtime over Minnesota. Boston now eighteen and zero at home, the Wizards dropped to six and thirty one. They lost that Indiana. John stash Aller Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on sirisxam the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm John Tucker. We want to continue our coverage of the SEC authorization of bitcoin spot ETFs and what the breakthrough means for the broader crypto space. Yesterday, Archie Investment CEO Kathy Wood, longtime Bitchi Bull, joined Bloomberg BusinessWeek host Carol for a conversation on Bloomberg Radio and the platform X discussing the SEC decision and what it means for bitcoin and other digital assets, and the statement afterwards from the SEC Commissioner, Gary Gensler. Let's bring you part of that discussion right now. When you're talking about institutions that you know have been very fearful of this space because of Gary Gensler, and you know all of the drama, I think they're going to tread lightly. I don't know if you saw, but Gary Gensler put out a piece today right as we're about to go effective, and I'm sure we all went effective roughly around the same time, and he just denigrated the whole crypto space, and I was just like, I couldn't believe it. So anyway, it's with that kind of trepidation that institutions are going to have to you know, work through and do all of their due diligence. However, I do think that a lot of investors have considered, you know, have been curious. And you'll see we've been from a marketing campaign. We've been using this tagline, aren't you a bit curious? There are so many people who are curious out there. Of course, a lot of our existing clients know all about bitcoin because we have owned it since twenty fifteen, but there are a lot of people who really have a hunger to know, and we can see that as more and more people read our research, tune into our Bitcoin Brainstorm that we do with Rod and Bitcoin Park in Nashville, Tennessee, read our bitcoin monthlies and you know, read all we have to say about crypto and blogs and in our brainstorm summary. So you know, we are getting all the curiosity. I think that's why we started. So we know a lot of people are waiting and believe it or not, Carol, the curious extend to state pension funds and state treasurers we're talking to, So it's a really broad swap. Well, catch people and I do wonder what you think success will be out of the gate in terms of investment flows. What's your hope, what's your goal or estimate in terms of bringing investors into the fund. Well, it's very interesting. I was we were I was speaking to Eric Beltunis, her colleague, and according to his estimates, there's there's four billion dollars waiting, you know, in the wings. And I said to him, well, from your lips to God's ears, that would be amazing. And you know, we hope we get our fair share of it. I mean, we've certainly, we've certainly done a lot to educate the community, and we experience a lot of gratitude for that too, from from from the innovation communities, including the bitcoin community, but also from the financial community, those who really are trying to find the next big idea. And can I ask you, as you mentioned SEC chair Gary Gensler at the top, and as the headlines crossed the Bloomberg that he the SEC approved all of those proposals for the spoppy coin ets yours included, along with everyone else the eleven. He also said investors should be cautious on crypto. He said SEC's action doesn't imply approval of crypto exchanges. And if you look at all the SEC filings yours included, there's a long list of concerns that there's This is still kind of a new concept and new idea. The old guard, you know, basically throw out there all kinds of risks and you know, some people call it fear uncertainty and doubt. It happens every time, Carol, And I'm not saying it's a bad thing for people to really do their homework. They should do their homework, they should understand the risks. But this is par for the course in disruptive innovation, you know, Everett. And thank you, Carol. You gave us our first interview twenty fifteen when we were barely off the ground. You believed in us back then. And at the time, you remember, we were talking about Tesla, So fear uncertainty and doubt, not even about autonomous which is the next set of fears, but about evs and wouldn't traditional auto manufacturers absolutely choked them to death. This is completely new DNA, and so it's the old DNA as the old car companies were the old DNA, you know, basically bashing the old new DNA. That was Arnick Advesce with Kathy Wood speaking with our Carol Master on Bloomberg Radio and the social media platform x and we continue our coverage of the approval of the Bitcoin ETF with the SEC Commissioner Hester perse Jones are Kelly Lines and Joe Matthew on Bloomberg's Balance of Power to discuss the implications of the SEC's approval of the exchange traded funds that invests directly in bitcoin, as well as the future of crypto regulation and the sec x account hack. Let's go to part of that discussion. I'm delighted that we're at the end of this saga. I know there's still pieces of it to go, but I think this is a big milestone. Well it's a milestone certainly for these bitcoin products, but it also raises a question of what sort of precedent this sets. If you look at the statement from the chairman, Gary Ginsler, he was very specific that this is specific to these bitcoin products, which are non security commodities, and there's a question of what this could mean in the future for essentially everything else. Is that door completely closed? The chair is right to point out that this is specific to a particular set of products. But obviously precedent matters, and so you look at the reasoning and people will do this. They'll look at the reasoning in the in the order, and they'll seek to apply it to other facts and circumstances as appropriate. So I think the only thing I will say is that one of my complaints in this area has been that we haven't always stuck with precedent when when it comes to these kinds of exchange traded products. We haven't necessarily applied the same standards that we do with respect to to other kinds of exchange traded products. But it is a precedent people will point to. That's the question. Of course, we're all asking whether it opens the door for other ETFs backed by other cryptocurrencies. Commissioner, is that in our near future? Again, you know, every application has to be considered on its facts and circumstances. But I one of the things that I think that we have to acknowledge is that when we when we apply a particular rationale to one particular product, people will ask us to apply it to other products as well. What kind of fiduciary responsibilities are there for investment advisors for their clients before allowing them to put money into these products. It's like anything else. A fiduciary is supposed to look out for the interests of the investors that she's working with, and that means taking into account the specific circumstances of that investor, the risk tolerance, the other elements of that investor's portfolio, and so it's not a cookie cutter answer one way or the other. Fiduciaries are paid to make good decisions that are appropriate for that particular investor. There were a few moments yesterday when we thought this had been approved a day earlier Commissioner, as you well know, everything worked out with the Twitter account at the SEC. Well it is, I mean, as there was a statement I think that came out saying that we are going to be looking into this and working with law enforcement at the WORD to figure out how this happened, how yesterday's event happened, and I hope that we get to the bottom of it, and I hope that we're as transparent when we explain what happened as we expect the companies that we regulate to be when they experience a similar event. Well, that certainly has gotten the attention of many on Capitol Hill. Commissioner, there have been many Congressional Republicans who have made their opinions known about the SEC under this chair for some time now. I'd also point to a statement that we got out from that House Financial Services Committee after this. They maintain that will legislatition to provide clarity and certainty for digital assets remain necessary. The steps taken today are a significant improvement over what they call the SEC's track record of regulation by enforcement until that legislation exists. Even with these approvals aside, should we expect that regulation by enforcement to continue? Well, I haven't seen much progress on US as a regulator setting out clear rules of the road when it comes to crypto products and services, and I think that that's been a complaint that I've had, It's been a complaint that others have had. We could just as we changed our tune here, we could change our tune on that, and so I remain hopeful that we will. That said, Congress has expressed an interest in legislating in this area, and I look forward to seeing their work in this area. And they have a clear interest in figuring out which regulatory which regulators should have authority in this area, and I look forward to seeing what comes of that. There are also just questions around fraud and manipulation. The argument initially about what Chairgainstler was so concerned with about these products in the first place. Spot products specifically compared to futures. Obviously, a court has ruled that that distinction was arbitrary and capricious. But do you share any concern if people put out false information about a traditional security, a traditional company, the stock of that company can also the price can also move. So this is not unique to bitcoin or bitcoin exchange traded products. Obviously, we will continue to look at the markets and at the markets for these bitcoin exchange traded products specifically, and if there is bad activity and it's it's within the ETP marketplace, we have authority there to investigate and bring enforcement actions as needed. You're listening to Bloomberg Daybreak today, your morning brief the story's making news from Wall Street to Washington and beyond. Look for us on your podcast beet at six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one O six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XMVI iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Bitcoin ETF Controversy; Boeing CEO Admits Mistakes

Wed, 10 Jan 2024 10:29:24 +0000

On today's podcast:

1) A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot-Bitcoin exchange-traded fund quickly morphed into a major cybersecurity incident on Tuesday.

2) Boeing Chief Executive Officer Dave Calhoun fought back tears as he said the planemaker must own up to its shortcomings as it grapples with a safety incident that has renewed questions over the quality of its manufacturing.

3) Donald Trump’s claim that he is immune from prosecution was met with skepticism by a US appeals court panel, suggesting an uphill battle in his effort to avoid a criminal trial over his attempt to overturn the 2020 election in his final days as president.

Full transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the drama surrounding the highly anticipated decision into the United States first exchange traded fund tied directly to bitcoin. We get the latest from Bloomberg's John Tucker. John, what's the latest, Nathan? You're going to add this to the long list of twists and turns in the ten plus year effort to bring a spot bitcoin to EDF to market. Somebody hacked the ex account of the Securities and Exchange Commission. It made a false posts the SEC had approved a Bitcoin ETF. The agency quickly denied any approval and said its ex account had been compromised. The false post on the SEC's X account was up for a number of minutes before the agency clarified it was inaccurate, But in that period Bitcoin posted a jump to almost forty eight thousand dollars before falling back to forty five thousand. About a dozen companies have applied to listingts back by bitcoin in the US. The SEC has until today to take action at least in one of those applications. I'm John Tucker, Bloomberg radio. All right, John, thank you well. Now we want to get the latest on the grounded Boeing seven thirty seven Max nine. The planemaker CEO Dave Calhoun says the company will have to face its own shortcomings as it deals with the door plug belowout on last week's Alaska Airlines flight. We're going to approach this number one acknowledging our mistake. We are going to approach it with one hundred percent in complete transparency every step of the way. We're going to work with the NTSB, who is investigating the accident itself, to find out what the weak cause is. I have a long experience with this group. They're as good as it gets. And Boeing CEO Dave Calhoun fought back tears as he addressed an all hands meeting on the incident. Alaska and United Airlines say they've discovered more Max nine jets with loose bulls after the FAA ordered the model grounded formally. Inspections still have not yet begun. All right, Keren, Well, let's turn to politics now. A federal appeals court appears skeptical of Donald Trump's claim that he's immune from prosecution on charges that he illegally tried to overturn the twenty twenty election. Bloomberg's Amy Morris reports from Washington. The former president was in the courtroom during the hearing when Appeals Court Judge Florence pen asked a Trump lawyer whether a president would be immune for having taken a bribe or ordering Seal Team six to murder a political rival. Trump's legal team responded that the president would have to be impeached and convicted first. At a press conference after the hearing, Trump said that denying him immunity would cause quote bedlam in the country. Trump is also expected to sit in on a hearing tomorrow in his civil fraud case in New York. In Washington, Amy Morris Bloomberg Radio, all right, Amy, thanks, so we're learning more about the hospitalization of Defense Secretary Lloyd Austin and the lapse in communication regarding his whereabouts. Austin had prostate cancer surgery on December twenty second, and was re admitted to the hospital on New Year's Day because of complications. National Security Council spokesperson John Kirby explained the timeline surrounding Austin's condition and when the president knew about it. He was not informed until last Friday that Secretary Austin was in the hospital. He was not informed until this morning that the root cause of that hospitalization was prostate cancer. National Security Council spokesperson John Kirby, the White House has announced a review of proto calls around Cabinet secretaries who are unreasonable or incapacitated. Well, another cabinet secretary, Secretary of State Anthony Blincoln, is still in the Middle East, Karen. He meets today with Palestinian President Mahmoud Abbas in Tel Aviv. Yesterday, Blincoln said Israel must stop undercutting Palestinian governance and rein in settler violence. Israel must stop taking steps that undercut Palestin's ability to govern themselves effectively extrame the settler violence carried out with impunity. Settlement expansion, demolitions, evictions all make it harder, not easier, for Israel to achieve lasting piece and a Secretary blinkn has met with the leaders of Saudi Arabia, Jordan, Cattter, the United Arab Emirates, and Turkey during his latest Middle East trip. Well, Nathan, we want to get back to the markets and update you on a story we told you about yesterday, It is now official. Hewlett Packard Enterprise has agreed to buy Juniper Networks for fourteen billion dollars. The maker of data center hardware will pay forty dollars to share in cash for Juniper. That price represents more than half of HPE's twenty one billion dollar market value and a thirty two percent premium over Juniper's closing price before talks of a deal emerged. Sticking with the tech theme, Karen Ces the Consumer Technology Association's annual trade show of all Things Tech is underway in Las Vegas, and Bloomberg Technology reporter Ed Ludlow is covering the show for US Day one at cs Las Vegas. The theme is definitely AI everything. Take, for example, Walmart, a big box retailer, but putting a lot of emphasis on a new generative AI search tool in the Walmart app on iOS only. Instead of searching for a specific item, the generative AI search allows you to look for an event or a theme. Then there's a kind of mainstay announcement. What was interesting is Google and Amazon both went after Apple's airplay, So in Google's case, they're working on the ability to cast video from an Android smartphone to a TV. Amazon actually want to step further. They developed technology where you can stream video from either an Android phone or an iOS or iPhone to Amazon's own TV hardware. Ed Ludlow for Bloomberg News in Las Vegas, Nevada. All right, Ed, thank you well. I did mention Amazon and they are also making news this morning at a different front. Bloomberg News has learned Amazon's live streaming site Twitch is poised to get thirty five percent of its staff, and that's about five hundred workers. Time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris Samy. Good morning, Good morning, Kieren. More than forty states are under blizzard, wind, snow or flood alerts. Winter storms continue to blanket the country. Bloomberg meteorologist Robed Carolyn significant storm system that spent the last twenty four hours wreaking havoc from the Great Lakes to the Gulf Coast. Now lifting out of the northeast. The worst of the weather of this morning across eastern portions of New England, but we'll still see snow on the backside of the system from Michigan into parts of the Ohio and Tennessee River valleys. Scattered showers are possible over Virginia and the Carolinas. The heavy rain, though in north in New England, should end, as should the snow, but windy conditions will continue from the mid Atlantic into the Northeast today. Bloomberg Meteorologist Rob Carolyn said at Republican leaders say Congress, we'll need another temporary spending measure to avoid a partial government shut down in ten days. How's Republican Matt Rosendale of Montana tells ABC he does not support the bipartisan compromise on spending. Cast we're still looking at about one point six trillion dollars spend in discretionary spending, and we're going to be holding a press conference with members of the House and Senate saying that we are more concerned with securing our southern border and making sure that that is taken care of than we are in writing another check to Joe Biden to continue his agenda, and the Senate Republican John Thune says they will need a stopgap measure to march. Minority leader Mitch McConnell acknowledged there's just not enough time to resolve lingering spending differences before the deadline. We need to prevent a government shutdown, and so the obvious question is how long does the cr need to be And that'll be up to the Majority leader and the Speaker to determine the links at how Speaker Mike Johnson has said he will not bring a continuing resolution to the floor for a vote. Vice President Kamala Harris was back in Atlanta for a roundtable discussion on protecting voting rights. We have seen in the state of Georgia by example of what is happening in the country, anti voter law laws that have limited dropboxes made it illegal to even provide food and water to people standing in line, often for hours. Vice President Harris met with city and state leaders near the Georgia Tech Campus. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now I Amy Morris in this is Bloomberg Karen, all right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg Radio, much as Amy said, but now also as she said, you can get the latest news on demand whenever you want it. You just subscribe to Bloomberg News Now to get the latest headlines of the click of a button, you can get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Well, and it's time now for the Bloomberg Sports Update. Here's John stash Hour John Karn. Just two years ago, Mike Rabel was the NFL the year he coached the Tennessee Titans to the AFC Championship game back in twenty nineteen. But after four straight winning seasons, two seasons under five hundred six to eleven, this past year and the Titans have fired dray Ball, and that immediately begins seculation that he could become the new coach of the New England Patriots, assuming Bill Belichick departs. Raybell played for the Patriots for eight years, won three Super Bowls. The biggest underdog of Wildcard Weekend the Pittsburgh Steelers. They have to go play red hot Buffalo, and the Steelers won't have their best defensive player, TJ Wantt out with a knee injury. Mason Rudolph will be their quarterback, and he was the third string QB for much of this season. Tyrese Haliburton has the strained hamstring injury, but it could have been worse. He's gonna miss only a couple of weeks. Haliburton averaging twenty four points the game. He leads the NBA in assists. The next have won five straight since they made that trade with Toronto. They blew out Portland. The Lakers top Toronto by one. Anthony Davis scored forty one. Memphis just lost John Moran for the season, but had to win at Dallas's Desmond Main score thirty two. Minnesota improving to twenty six and ten with a win in Orlando, Detroit falling to three and thirty four. The Pistons blown out by Sacramento. Perdue, number one in the college basketball lost at Nebraska Huskers, beating number one for the first time in forty one years, and second rank Houston, who was undefeated, was upset by Iowa State. John Stanshower Bloomberg sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Sirius exam. The Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. As we still wait for a decision from the Securities at Exchange Commission on approvals for the first spot bitcoin ETFs. Investors briefly thought that decision was made yesterday, only to find out the SEC's social media had been hacked. New questions about security at the agency tasked with ensuring the security of your investments. Bloomberg's Crity Gupta is here with us now. To call this an embarrassment for the SEC seems like it might be understating things. Yeah, it's a really interesting and almost ironic situation that you see from the SEC and of course a lot of these bitcoin issuers, because at its core of the concern about this ETF was simply this idea that bitcoin is a very volatile asset. It's a decentralized asset, it's a hard to track asset, and that means that if you start to create a vehicle, in this case, an ETF that allows the masses and the general public easier access to this volatile cryptocurrency, basically, what might the repercussions of that be. Cybersecurity was one of them. Hacking was one of them. So it's only kind of ironic on a day where, or I guess the day before, where largely the expectation was that the SEC would actually give some sort of approval. That expectation also shared, by the way, by our Bloomberg Intelligence ETF team, that this is exactly how it all plays out on by the way, a social media platform owned by Elon Musk, who himself has been quite an advocate for the cryptocurrency, and he's also been at loggerheads with SEC chairman Gary Gensler in the past, not just about crypto but about his own trying to get Tesla to go private. We remember that four to twenty tweet a while back, and the history that Elon Musk has with the SEC. Yeah, and ironically, the SEC is now going to be investigating themselves for the idea of simply did the call kind of come from inside the house at the end of the day, because it's been investigated from the social media platform from ex's perspective about the actual hack itself, and it's been found out that it's actually wasn't a flaw in the platform itself. In fact, someone got a home hold of a number associated with the account. Because the account did have two factor verification, they were able to post something like this. But now there's a big question about whether that person or that individual or the organization was within the SEC. And for that ironically, again, the SEC now investigating themselves for market manipulation because it did move billions of dollars in cryptocurrency. Yeah, it's more than just an irony. It's raising a lot of questions about a security in and of itself within the SEC. Does this affect the timeline for whatever the SEC is going to decide about bigcoin ETFs to have this kind of hiccup, So the expectation is that it shouldn't affect the timeline. So by the end of today, basically we should get an actual decision by the SEC about whether they or not they approved or at least make a decision on at least one of the etf that a filed. Remember we have I believe six that are currently the attention is on. It could paved the way for plenty more after that, So it shouldn't change the timeline. If it does, however, it would be one to mark for the history books, because never in history of the SEC's approval process for ETF regardless of whether it's a Bitcoin ETF or just a different kind of asset class. Do they reject ETF this late in the process. And that's why you start to see a lot of the consensus again, including Bloomberg Intelligence saying that this ETF process for Bitcoin should be a no brainer simply because they wouldn't have let it get this far if approval wasn't in the cards. Is this going to raise questions about the approval process itself? To have this kind of question raised about what when the approval happened? After seeing that Errent tweet yesterday, I think it won't necessarily change the approval process because this was something that the SEC has been very outfront about, very transparent about about their concerns about Bitcoin in particular. I think it might create a little bit more of a hesitancy on the investor standpoint, because this was supposed to be the moment where you kind of let open the floodgates for a lot of people to get that easier access to cryptocurrency and more easily included in their portfolios. But that might now be met with a little bit more hesitancy because it reups, a lot of those issues of security, who's behind it, who's involved, and frankly, the fact that it is a decentralized currency and you can't track it, which is why it's so hard, even in this particular scenario to say who is behind this the cyber attack. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six one in Boston, and Bloomberg nineteen sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Serriusxmbiheartradio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg Daybreak

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Boeing Investigation Latest; Trump Court Showdown; Lloyd Austin's Hospitalization

Tue, 09 Jan 2024 10:30:46 +0000

On today's podcast:

1) Investigators probing the fuselage blowout on a Boeing Co. 737 Max 9 on Jan. 5 determined that the door plug moved upward before ejecting and that fittings holding the part in place came loose, as the two US carriers operating the now-grounded aircraft said their own maintenance checks uncovered loose bolts on the parked jets.

2) Donald Trump’s lawyers will spar with federal prosecutors Tuesday in a high-stakes court battle to determine if he is immune from charges of trying to overturn the 2020 election because he was president at the time.

3) US lawmakers demanded answers from the Pentagon after Defense Secretary Lloyd Austin failed to notify the White House about his hospitalization for four days, saying they weren’t satisfied with the explanation for his absence.

4) The White House’s “work is not done” when it comes to lowering prices for American consumers according to the president’s top economic advisor, Lael Brainard. That’s despite the recent slowing of inflation that has seen the headline consumer price index fall to 0.1% in November.

Full Transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest developments in the investigation into the door panel blowout on a Boeing seven thirty seven Max nine. Bloomberg's John Tucker is here with the latest, John and Nathan. More and more of the focus is turning to bolts and whether they were properly tightened, as the NTSB tries to find answers to how that unused door panel blew off that Alaska Airlines Boeing seven thirty seven Max nine over Portland. Another airline says it's found loose bolts. United confirms it found loose bolts after inspecting identical door plugs as the one that blew out on the Alaska plane. NTSB chairman Jennifer Hamendi, we are aware of the reports of that are coming back from the inspections from United and Alaska and Boeing. Our team is collecting that information and there will be some follow up from the inspections. It's unclear how many loose polts were found. The NTSB may now broaden the probe into other Max nine jets beyond the Alaska Airlines model on which the accident occurred. It intensified scrutiny of the manufacturing process at Bowling and its key supplier, Spirit Aerosystems, which makes the fuselage for the seven thirty seven Max. I'm John Tucker, Bloomberg Radio. All right, John, Thanks well. Another major story that we're following this morning involves a high stakes court hearing in Washington, d C. Lawyers for Donald Trumpell's spar with federal prosecutors over whether the former president is immuniform charges of trying to overturn the twenty twenty election results. Bloomberg's Amy Morris has more from Washington. Oral arguments are set for today before a three judge panel with the US Court of Appeals for the d C Circuit over whether Donald Trump is shielded from prosecution for his actions before and during the January sixth riot at the US Capitol. Now Trump said on social media he planned to attend, but he is not expected to address the court. The judges could hand down their ruling at any time after the hearing, and a ruling in favor of Trump could be a fatal blow to the Justice Department's efforts to try him. While either side has the right to appeal. Neither the full DC Court nor the US Supreme Court are required to take the case, so this Court's ruling could be the final word in Washington. Amy Morris Bloomberg Radio, Okay, Amy, thank you will staying in Washington. Bipartisan anger is building against Defense Secretary Lloyd Austin. We get that story from Bloomberg's Dan Schwartzman. Politicians on both sides of the isle are demanding answers as to why Defense Secretary Lloyd Austin failed to let anyone know he was hospitalized on New Year's Day. The retired general didn't even let the White House know he was at Walter Reed Medical Center for four days, depending on a day after that. Austin was hospitalized, but did not tell the White House, Congress, or even the deputy Defense Secretary for several days. Republican Senator Susan Collins Remaine says it's quote inexplicable that the Secretary's condition remains shrouded in secrecy, while Massachusetts Democrat Seth Mulden says this astounding that the president in Austin's own deputy did know he was in the hospital. According to White House spokesman John Kirkby President Biden has no plans to replace Austin. Dan Schwartzman Bloomberg Radio. All right, Dan, thanks now to the latest developments in the Middle East. Secretary of State Anthony Blncoln says, who the militants will face consequences if they continue to attack ships in the Red Sea, he told reporters, and more violence will be detrimental for the region. It's clearly not in the interest of anyone Israel Lebanon Hasbola for that matter, to see to see this escalator and to see an actual conflict, and the Israelis have been very clear with us that they want to find a diplomatic way for it. Secretary of State Anthony Blincn meets with Israel's leader Benjamin and Yahoo later today. Let's turn back to markets now, Karen, As you mentioned, futures are lower following yesterday's rally on Wall Street that saw the Nasdaq surge more than two percent. In Asia, the knee Can in Japan closed at its highest level in thirty four years. Me and mole Nathan. Former bond king Bill Gross is signaling he is now steering clear of treasuries in a post on x gros said ten year treasury yields at four percent are overvalued. Gross made millions late last year after a big bet the Fed would pivot toward interest rate cuts for twenty twenty four. Well Karen, the President's top economic advisor, says the White House's work is not done when it comes to lowering prices for American consumers. Lyyle Brainerd spoke with Joe Wisenthal and Tracy Alloway on the Bloomberg Godlots podcast. Some prices have not come down, and we're fighting pretty hard to get those prices to come down. One area that really is difficult for Americans is healthcare. White House Economic advisor Lyle Brainerd ads the administration will use its position to continue calling out corporations who aren't passing along cost savings to consumers. For the full conversation, download the latest edition of Bloomberg Odd Lots that's available everywhere you get your podcasts. And Shares of Nvidia closed at a record high. The company's chip technology dominates in data centers used to create artificial intelligence software where now in Nvidia's announced new products to help the personal computer industry lower consumers with AIPCS. Another chip maker in the spotlight this morning, Nathan Samsung Electronics has posted at six straight quarter of declining operating profit. The results underscore how demand for smartphones and the memory chips remained sluggish given economic uncertainty, and shares of Match are up more than eight percent in early trading. That says The Wall Street Journal reports Elliott Investment Management has built a stake of about a billion dollars in the dating app company. Time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. Homeland Security Secretary Alejandro Orcis was an eagle pass taxes to meet with elected leaders and border patrol agents at the southern US border. Now, he says it's too early to tell if the significant drop in border crossings over the past week is related to the holiday season or stepped up enforcement operationations in Mexico. Our immigration system is outdated and broken and has been in need of reform for literally decades. On this, everyone agrees. Arizona Senator Kirsten Cinema, an independent who has been central in negotiations, says She's not sure whether text is going to be available, but she hopes there will be something to present this week. House Republicans are pushing to impeach may orc As Senate Republicans want him to help cut a border security deal. President Biden meanwhile moving to win back black voters. Bloomberg's Nancy Lyons has more on his trip to South Carolina. President Biden delivered remarks at Mother Emmanuel Ame Church in Charleston, South Carolina, where white supremacist killed nine people in twenty fifteen. Biden says, our country must deal with racism. It is a poison throughout our history. Driptest nation apart, says no place in America, not today tomorrow. Ever, Biden's favorability among black voters in seven swing states has slipped so seven percentage points since October to sixty one percent in December. That's according to a Bloomberg News Morning Consult poll in Washington. Nancy Lyons Bloomberg Radio. Now. Former President Trump wants his supporters to give him a definitive win in Iowa, even with a commanding, leaving the polls with less than a week before the caucuses. Trumps stressed turnout the people of this state are going to cast the most important vote of your entire lives. I believe that too very much. I used to say that twenty sixteen, and I believed it then, and now I believe this is even much more important. The Trump campaign believes a decisive Iowa victory would put pressure on his GOP rivals to drop out. Florida Governor Ron DeSantis and former South Carolina Governor Nikki Haley have failed to gain much significant ground in the Iowa polls against Trump. Next up New Hampshire January twenty third. That's where Nicki Haley has been gaining more momentum while still trailing Trump. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I Mamy Morris and this is Bloomberg Karen righting me. Thank you. We to bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app Bloomberg dot Com plus Apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Karn. The Michigan Wolverines national champions in college footwall in Houston. They beat Washington thirty four to thirteen. It was a quick start for Michigan. First two possessions were both Donovan Edwards touchdown runs. They covered forty one and forty three yards. Michigan didn't get into the end zone again until the fourth quarter. Blake Korum scored capping a seventy one yard drive, and later Quorum scored again, coming after Mike Stanisil's eighty one yard interception return. Washington star quarterback Michael Pennix junior twenty seven of fifty one, did have two interceptions. Mission goes fifteen to zero, wins the national title for the first time since nineteen ninety seven, and the question now is if Jim Harbar returns as coach or heads back to the NFL. The Washington Commanders looking for a new coach after they had the second worst record in the NFL. They've got new ownership and Ron Rivera fired after four years on the job. Carolina Panthers already knew they were looking for a new coach now at GM as well as the Panthers fired to the manager Scott Fitterer. Celtics got forty points from Jalen Brown, but lost at Indiana one thirty three to one thirty one. The Pacers lost their star player Tyrese Haliburton a hamstring injury. He's headed for an MRI. John Moran is headed for a season ending shoulder surgery. Memphisis star guard was suspended for the first twenty five games of the season and ends up only playing nine games on the year. Wizard's thirtieth loss to the year beaten by Oklahoma City one thirty six to one twenty eight. The Bruins lost at Colorado four to three in a shootout. John Stash Edward Bloomberg sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Sirius, Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager Boeing is working to get at seven thirty seven Max nine Jets back in the air after the FAA ordered them temporarily grounded following last week's door panel blowout. But the investigation into the cash cow for Boeing is finding more installation issues maybe than just the ones on that Alaska Airlines flight. For more, we're joined now by Bloomberg News Global Aviation head Benedict Campbell. Thanks for being here, Benedict. Get us caught up on the investigation so far. Good morning. So we heard from the NTSB again yesterday, the holding daily press briefings to give the latest update. And what we heard yesterday is that indeed they are still focused on this particular Alaska aircraft, but they've said that they might well be looking more deeply at other aircraft broadly, more broadly than just the seven three seven Max nine. Right now, the focus remains very much on that door panel, on that plug as they call it, that came flying out, and they're trying to determine what exactly caused that component to come loose. One thing that they did say was they are focused intensely on the bolts that are sort of a fixing that particular component. And speaking of bolts, we have heard from United Air and from Alaska that they've found some loose bolts on their aircraft, so obviously that's sort of the area around which the investigation is focused right now. How unusual is it to see these signs of improper tightening on an aircraft like this? Is this part of the reason why we're getting these suggestions that the investigation could go beyond the Max nine Absolutely, and this is obviously something you don't want to find on an aircraft. Is something that they have found, not just in this case, but also in previous sort of investigations where they looked at improper manufacturing. We had a misaligned drilling holes on some seven three sevens last year. Then we had some loose bolts in another part of a plane. So these defects appear to come up again and again. And you have to remember the Max, the seven three seven Max has a very sort of fragile reputation after these two crashes that happened almost five years ago. A lot of people still somewhat squeamish about that aircraft and an Abbus not Abbus Boeing have managed to repair that reputation, but somewhat fragilely. And the question now is will that pull them back into a hole. How can they emerge from that? Those are a lot of things they're trying to work through right now. Yeah, it raises the question about whether Boeing could be running into a crisis of confidence with flyers. Is that the concern for Boeing? That is very much the concern. I mean, we've seen the crisis of confidence on the side of the investors. If you look at what happened with the stock yesterday took a deep tumble. Spirit Aerosystems, that's the company that makes the fuselage for the seven three seven is by An is by far Boeing's most important supplier. They also dropped quite sharply yesterday. So there is a real crisis and confidence For the time being, it's the focus is very much sort of on the investor side, on the financial side. But if this spreads into a bigger crisis, say the flyers, the flying public, and then the customers ultimately, that will obviously be something very hard for Boeing to get back from. This had been the year, or supposed to be the year of the great comeback of Boeing. They've they've had a couple of difficult years, as I said, but they'd managed to get their manufacturing back in order, the orders and deliveries are back. They'd planned to really increase the output rate of the seven three seven. All of these things were sort of what lay ahead for them for this year, and right now it looks as if things will certainly low down for them quite a bit. The FAA, which is the regulator in the US, they're saying, not so fast. We want to make sure this plane is ready to fly again before we can unground it, and Boeing has to sort of comply with that. Is this something that could put the relationship between Boeing and Spirit Aerosystems in jeopardy? I mean, where could the blame potentially lie for this? Got about a minute left. It's a difficult relationship that these two companies have. Spirit used to be part of Boeing. Then it will spun out, but they're still very much sort of entwined and then locked in a slightly unhappy marriage here. They obviously Boeing needs to have very close quality controls at Spirit to make sure that the products that get shipped over to Boeing meet their standards, and that's something that hasn't always been the case in the past. So Boeing really needs to tighten the screws, as it were, on Spirit and make sure that they have the right people there, they have the right controls. There's new management at that company. Ultimately the buck stops with Boeing. They need to have the final sign off on the plane. You can blame Spirit and point your finger as much as you want at them, but the plane is ultimately sold by Boeing, so they need to make sure that the network is up to snuff. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the new you need to start your day right here on Bloomberg Daybreak

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Boeing 737 Max Groundings Fallout; Risk of Government Shutdown Eases

Mon, 08 Jan 2024 10:27:44 +0000

On today's podcast:

1) US air-safety officials retrieved the fuselage panel that blew off during an Alaska Airlines flight on Jan. 5, as authorities begin piecing together evidence to learn what led to the sudden decompression on the almost-new Boeing Co. 737 Max 9 aircraft.

2) US congressional leaders announced a deal on a top-line spending level for the current fiscal year, lessening the chances of a partial government shutdown on Jan. 20.

3) The Pentagon’s failure to notify President Joe Biden that his defense secretary had been hospitalized for four days was the result of a series of errors, including confusion over Lloyd Austin’s wishes and his chief of staff falling ill, people familiar with the matter said.

4) United Launch Alliance’s long-awaited Vulcan rocket lifted off on Monday, heralding a new era for the longtime Pentagon contractor fighting to expand market share against Elon Musk’s SpaceX.

Full Transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest developments involving Boeing after disaster was narrowly averted on an Alaska Airlines flight on Friday. Boring stock right now is down more than eight percent, and we get more from Bloomberg's John Tucker, John and Nathan. The airlines around the globe have been grounding Boeing seven thirty seven Max nine half to a fuselage section on a brand new Alaska Airlines jet blew out during a flight on Friday. This is a door panel that can be sealed or used for access, depending on the configuration. Only luck prevented a more disastrous outcome. The National Transportation Safety Board cheer Jennifer Homandi says Alaska Airlines pilots did report pressurization warning lights on three earlier flights of the two month old plane in question. The auto pressurization fail light that did illuminate in three previous flights, one on December seventh, one on January third, and one on January fourth. A schoolteacher in Portland found the missing fuselage door plug in his backyard. The door plug that blew out was next to seats twenty six A and twenty six P, and just by chance, there was nobody sitting there. The plane did carry one hundred and seventy one passengers, a valuable data usually collected by the so called black box that was a raised Boeing suppliers. Spirit Aerosystems Holdings was the company that installed the planel on the nearly new jet. John Tucker Bloomberg Radio, all right, John, thank you well be now when to turn to the latest developments in the Middle East. Secretary of State Anthony Blincoln is in the region for a fourth time since the Israeli Hamas war broke out. Lincoln is warning the war could quote easily become a wider conflict. He spoke during a news conference in Doha. This is a conflict that could easily a tastasize, causing even more insecurity, more suffering and Secretary of State blank And met with Jordan's Kingdomdullah on Sunday, a day after stops in Turkey and Greece. Well back here in the US here, and the risk of a government shutdown on January twentieth has eased somewhat with word of a deal on spending caps. Bloomberg's Amy Morris has details from Washington. Senate Majority Leader Chuck Schumer and House Speaker Mike Johnson negotiated the bipartisan deal, which caps spending at one point five to nine trillion dollars. Republicans have agreed to a set of budget moves to spare immediate cuts to domestic agency budgets. The deal does not include an agreement to block all conservative policy writers, so there still may be debates over defunding investigations into former President Trump, and while that might cause an impass later, for now, lawmakers have the framework they need to avoid a government shut down this month. The next deadline is February second. In Washington, Amy Morris, Bloomberg Radio, all right, Amy, thank you now. The latest on the health of Lloyd Austin. Bloomberg News has learned the Pentagon's failure to notify prison and in bid and that his Defense secretary had been hospitalized for four days, was the result of a series of errors. They include confusion over Austin's wishes and his chief of staff, Falling Hill from a Republican Congressoman list. Cheney is looking for answers I think they've got some very serious explaining to do. I think that there's a real difference between public transparency and you know, alerting the commander in chief to the fact that Secretary of Defense is in the hospital. Apparently the deputy Secretary was on vacation in Puerto Rico. I think it's inexplicable. We need to know more about exactly what happened there. But that's not the way the Pentagon ought to be conducting business. And that's former Congressome and liszt Cheney. On Saturday, Secretary Austin apologized for failing to inform the public for days, while saying he's on the mend and expects to return to the Pentagon soon. Let's turn to Wall Street now, Karen Bank earnings and the possible Bitcoin ETF will be front and center this week. More from Bloomberg's Charlie Pellett. Friday, we hear from JP Morgan, Chase, City Group, Bank of America, Anne Wells Fargo. Early earnings reports come amid questions about the path of inflation and FED interest rate POTLESE. Cameron Dawson is chief investment officer at New Edge Wealth. The thing that's the biggest challenge for US for earning sestaments in twenty four is the expectation that topline growth will re accelerate in a year where nominal growth because of inflation is expected to decelerate. Also this week, the Securities and Exchange Commission will decide whether to approve an exchange traded fund tied directly to the world's largest cryptocurrency in New York, Charlie Bloomberg Radio, All right, Charlie. Thanks. In company news, Bloomberg News has learned MRK is in advanced talks to acquire cancer drugmaker Harpoon Therapeutics. The price tag about seven hundred million dollars. San Francisco based Harpoon is developing drugs that harness the body's immune system to fight cancer. Shares of Harpoon are up about one hundred percent well. Also, while following Apple Care, which has fallen almost six percent to kick off the new year, Jeffries says Apple's iPhone sales slump in China is deepening and the companies likely to see volumes decline further this year. Apple saw a double digit falled volumes in December. Jeffries forecast a similar decline for twenty twenty four. Checking shares of Apple right now they are a little changed to the downside. And on the economic front, Nathan, inflation will be the focus for our investors. Bloomberg's Any del Judaice has more the Labor Department issues the Consumer Price Index Thursday and the Producer Price Index Friday, both covered December. Rising gasoline prices could have an impact on the household data, says Bloomberg Economics. Looking further out, Bloomberg economics 's US inflation continuing to run above the federal reserves two percent target this year, even with all the raid hikes. Vinny del Judice, Bloomberg Radio, Nathan, thank you. It's time for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris, Sammy, Good morning, Good morning, Karen. Ukraine suffered a second large scale Russian missile barrage this year as temperatures dropped below freezing in the latest escalation of aerial attacks. Now, this barrage killed one woman and left at least thirty more people wounded. After months of relatively few air strikes, Russia is ramping up bombardment just before the new year, firing hundreds of missiles at cities across Ukraine, including the capital. Meanwhile, Ukraine has been targeting bases and occupied Crimea, with the Air Force saying over the weekend that it destroyed our Russian command post there. Meanwhile, President Joe Biden is set to visit Charleston, South Carolina, today, including a stop at Mother Emmanuel Ame Church, where back in twenty fifteen, nine church goers were shot and killed by a self proclaimed white supremacist. Charlotte City Councilman Malcolm Graham is the brother of one of those victims. Cynthia Graham heard and tells ABC News that when the President visits local black history points of interest, he's sending us strong message of visiting sites like the new Historic African American Museum, he makes a point that history matters, that black history matters. It just not just occurs in the month of February, that black history is also American history. Biden, meanwhile working to shore up support among black voters and Nicki Haley's home state as the Republican governor of former governor of South Carolina, is rising in the polls. Texas Republican Congressman Tony Gonzalez reflected on the third anniversary of the January sixth attack on the Capitol and stands by his labeling of the mob as domestic terrorists, refusing to accept former President trump statements made on the writers describing them as heroes and hostages. They're certainly not heroes. You know. They broke the law, and we have to obey our laws. We are a nation of laws, and they have to obey the laws. Representative Gonzales tells ABC's This Week he does not support Donald Trump's proposed plan to pardon those convicted for their actions that day. Hospitals across the country are telling people mask up flu and COVID nineteen cases are once again on the rise. The viruses have actually been on the incline for the past few weeks. Health officials are predicting infections will increase even more throughout this month. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm Amy Morris and this is Bloomberg Karen Hurry, Amy, thank you. We do bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update, here's John stash Hour John Karen. The NFL regular season is over. The playoffs begin on Saturday with a late afternoon game between the Cleveland Browns and the Houston Texans. A team that won only eleven games over the previous three seasons won ten this year, and the Texans won the AFC South when Jacksonville lost its game yesterday at Tennessee twenty eight to twenty. Saturday night, it'll be Miami at Kansas City. The Dolphins blew a lead in the AFC East and last night's lost to Buffalo twenty one to fourteen cost the Dolphins the AFC East, so they're a wildcard and they'll take on the Chiefs Sunday at one Eastern Pittsburgh in Buffalo. Then it's Green Bay at Dallas. The Packers gaining a wildcard spot with a seventeen to nine win over Chicago. The Cowboys won the NFC East. They blew out Washington yesterday thirty eight to ten. Sunday night, it'll be the Rams in Detroit, so Matthew Stafford will face his former team in the wildcard weekend will conclude next Monday night. Slumping Philadelphia at Tampa Bay, Eagles have been a train wreck down the stretch of the season, losing five to the last six. They were beaten by the Giants yesterday twenty seven to ten. The Bucks won the NFC South with a nine to nothing win over Carolina Atlanta Falcons of fired coach Arthur Smith. Will the Patriots part ways with Bill Belichick after twenty five years as coach there? We should find out soon. Michigan and Washington played tonight in the Houston for the National Championship, both teams fourteen and er. Although the Huskies haven't won a game by more than ten points since September, the Wolverines are the famous from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam. The Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Airlines around the world are starting to ground their Boeing seven thirty seven Max nine jets after part of the fuselage blew out on a brand new model operated by Alaska Airlines last Friday. It is another blow to Boeing's turnaround efforts after two deadly seven thirty seven Max crashes nearly five years ago. From More, we were joined by Bloomberg News. Aviations are Anthony Palazzo. Anthony, what more do we know about why this mishap happened and where the investigation stands? Hi Nathan, thanks for having me. Yeah, So, we had two developments late late yesterday. One is that the investigators have found the door panel that fell out of the plane. This is a key piece of evidence and they're going to be looking very closely at the condition of that panel to understand why it popped out of the fuselage section. The panel was found in the backyard of a Portland area school teacher. So what could that panel tell us about how this happened? Well, well, what they've what they've said so far is that they've looked at they've looked at the tabs that hold that panel in from the interier of the plane, which was largely undamaged, and that they didn't find a whole lot of They didn't find, you know, a problem there. So they're gonna so they're going to need to keep going to understand exactly how this came off. Those those panels are screwed in with four bolts. They're not in use, although they can be opened from the outside of the plane. Those are essentially openings that are built for an emergency door. But a lot of the a lot of the airlines that use this aircraft, it's a stretched Boeing seven point thirty seven Max Jet, a lot of the airlines don't use those exit doors because they're not needed for the seat configurations that they need. So this is putting more scrutiny on the manufacturing process at Boeing, particularly around the seven thirty seven Max. Is there something particular about the Max nine that could have caused a problem like this as opposed to the seven thirty seven Maxes that were involved in those crashes that we all remember just a few years ago. Yes, well, the well, the the Max nine is a stretched version of the of the core Boeing Max plane, which is called the Max eight. So it's a it's a bit longer, and it can seat more people. But because it can seat more people in its in its most densely packed configurations, it requires more additional safety exits. So a lot of a lot of the low cost carriers that would use that plane would would want to put in more seats and therefore more more emergency exits most carriers. So now the Max eight does not have that that kind of a kind of configuration, doesn't have those exits and doesn't need them. The way that Boeing has done it is that they put in the essentially modular cutouts into the frame so they can make all the fuselages the same, and then when they finish the aircraft they can decide, you know, with the customer whether or not to install those doors or to install plugs in those holes. So now that's the difference. Yeah, right, And now we have a couple of hundred of these seven thirty seven Max nines getting taken out of service, these low cost carriers including Alaska and United grounding these jets. How big a blow potentially could this be for Boeing When it's been trying to put a turnaround plan into place. Well, it's a real setback, you know. The extent to how deep or how long term it ends up being that's all yet to be determined. But certainly investors are selling down the stock. This morning we sell that shares go down about eight point three percent in pre market trading. Their supplier is Spirit Aero Systems, that is a former Boeing unit that makes the fuselage and they they're down about sixteen percent. I think there's been there's been a lot of there's been a lot of speculation about the relationship between Boeing and Spirit and how wise it was to separate the two companies. You know, Spirit's been responsible for a couple of the real supplier glitches that have held that production at Boeing, and they've been weakened financially. Boeing had to reduce some contracts with Spirit, they had to infuse some money into it. So this may be something that that Boeing recon suitors in the longer term. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed. At six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Daybreak Weekend: Bank Earnings, UK Eco Data, Taiwan Election, Biden Polls

Sat, 06 Jan 2024 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - As earnings season kicks off, we preview what we can expect from some of Wall Street's biggest banks.

In the UK - The economic trajectory will be back in focus in the coming days - as a batch of data will help tell us whether Britain may avoid a recession.

In Asia - Taiwan's presidential election is set for January 13th.The results will help shape the course of US-China relations for years to come.

In DC - With the race for President in full swing, we look at a new series of new Gallup polls focusing on the election.

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Winter Snowstorm Ahead; Wall Street Braces for Jobs Report; Blinken to Visit Middle East

Fri, 05 Jan 2024 10:37:10 +0000

On today's podcast:

1) New York City and Boston are straddling the line between what could be a snowy weekend or just a lot of rainhttps://www.bloomberg.com/news/articles/2024-01-04/us-east-coast-braces-for-weekend-snow-or-rain-weather-watch from a system sweeping up the US East Coast this weekend.

2) A monthly US jobs report due Friday will probably show many industries refrained from hiring as employment gains increasingly concentrated in a handful of sectors, according to Bloomberg Economics.

3) The options market for US Treasuries was abuzz Thursday following the emergence of a large bearish wager that Friday’s jobs report will trigger the biggest backup in benchmark yields in more than nine months.

4) Secretary of State Antony Blinken left for his fourth trip to the Middle East since the Oct. 7 attack on Israel, as part of US efforts to counter growing risks of a broader regional conflict.

Full Transcript:

Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the first major winter storm to hit the East Coast so far this season. Let's get the very latest on that with Bloomberg meteorologist Rob Carol and Rob Nathan. The weekend storm is going to be worse to the north and west of the district in Baltimore, and also north and west of New York City and north and west of Boston. The major cities are going to see some mixing with rain that that's going to hold down the accumulations. But it's the areas to the north and west that are going to do quite well where it stays all snow. Three to five inches possible north and west of the district in Baltimore, while north and west of New York City as much as five to eight inches will fall. We could see as much as five to ten inches of snow north and west of Boston during the storm. Okay, Rob, So when do you expect this wintry weather is going to end. Storm's going to wind down during the evening and overnight hours in the district in Baltimore. In New York city. It comes to an end Sunday afternoon the Boston area. I will see it ending late Sunday night early Monday morning, and we should see quite a bit of an improvement weatherwise into Monday of next week. Okay, Rob, Carolyn, thanks for that. We'll be checking back with you for more on this East coast winter storm throughout the day. Mowe now turned to the crucial jobs are poored for the month of December. Nathan It's forecast a show one hundred and seventy five thousand jobs were added a last month, and we get more from Bloomberg's Michael McKee. Wall Street goes into today's jobs report expecting strength in hiring and wages. That was not what the Fed was expecting a few months ago. The central bankers want job growth of about one hundred thousand a month and unemployment in the fours to signal an easing of labor market inflation pressures. Instead, they're likely to get a continuing conundrum, a strong labor market but falling inflation, making it hard to know the best path for interest rates. They will probably focus on the composition of jobs. Some analysts say job growth should be concentrated in low wage sectors like healthcare, assistants and restaurants, and that will be the sign the Fed wants that the economy is slowing. McKee, Bloomberg Radio. All right, Mike, thanks for the options market. It's been a buzz ahead of the jobs report. There is a large parish wager underway on yields rising to four point one five percent by the end of the day. That would mark the biggest one day rise in tenure yields since late March. It would be a further retrenchment for treasuries following last year's furious two month rally. In checking the tenure right now, it is at four point zero three percent. Well, Nathan. Rates are also in focus overseas. Traders are pairing bets on cuts from the European Central Bank. Let's go to London and get the latest from Bloomberg's Ewen pots Hore Youwen, Karen, and Nathan. It's the first time since mid December that traders are betting on fewer than six quarter point rate reductions from the ECB. At the end of last year, the market was pricing as much as one hundred and seventy four basis points of cuts. That number has now slipped blow one hundred and fifty basis points and key data this morning, shining more lights on the inflation pitcher. You're area CPI coming in at two point nine percent in the year to December. That's a higher number than the previous month as energy subsidies expire in a number of countries. In London, you and pot Splomberg Radio, all right, you and thank you. Now we turned to the latest developments in the Middle East. Secretary of State Antony Blincoln is returning to the region, his fourth trip since the October seventh attack on Israel. Bloomberg Zamie Morris reports from Washington, there is a risk the war between Israel and Hamas can spread into a broader regional conflict. This trip is part of US efforts to prevent that. Secretary Blincoln will travel to Turkey, Jordan, Cotter, the United Arab Emirates, Saudi Arabia, Egypt, and Israel. State Department spokesman Matthew Miller says they don't expect some of these conversations to be easy. We want to prevent the conflict from spreading, but part of that means that people need to stop taking strikes against our soldiers, and if they take strikes against our soldiers, we're going to do what we need to protect ourselves. Groups backed by Iran have escalated attacks across Iraq, Syria, Lebanon, and Yemen and armed forces in a rocker also warning of a quote dangerous escalation after a US right killed a senior commander in an Iran backed militia in Washington, Amy Morris, Bloomberg Radio, all right, Amy, thanks. Meanwhile, the Islamic State group has claimed responsibility for the two explosions that killed almost one hundred people in Iran. The attacks risked inflaming tensions further in the Middle East, with Iran saying it had been targeted because of its stands on Israel. Bloomberg Henry Meyer looks at the impact of the Islamic State taking responsibility for the attacks. It's significant in the sense that it reduces the risks of a more confrontation between Israel and Iran. Iran had said that the bloss with the work of people who were trying to punish it for its stance on the Israeli offensive in Gaza. And you know, obviously any suspicion of Israeli involvement could have proved extremely explosive, and Bloomberg Henry Meyer notes US officials said from the start the attacks had the hallmark of a group such as Islamic State. Back here in the US, Karen, there's more fallout over the resignation of former Harvard president Claudine Gay. The Reverend Al sharped and led a protest at Bill Ackman's Manhattan offices yesterday. The civil rights activist says the billionaire investors campaign against Gay is a blow to the diversity, equity and inclusion movement. Gay stepped down as Harvard's first black president this week in a backlash over her handling of campus antisemitism and accusations of plagiarism. Meantime, Nathan Business Insider is reporting Bill Lackman's wife, Nary Auxman, plagiarized multiple sections of her doctoral dissertation at MIT. Acman responded to the report in a post on X, writing, you know you struck a chord when they go after your wife. Time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. Residents in the small town of Perry, Iowa, held a vigil last night, hours after a gunman opened fire at the local high school, killing a sixth grader and wounding four other students in the school's principal, Andrea Meyer, is a two thousand and four alumna at the school, and she spoke at last night's vigil green rally around our survivors, our community, our teachers, our first responders, and we're going to show them what we've shown them every day for as long as I have known that we appreciate them, enjoy them, respect them, and dare I say love them. The suspect, identified as seventeen year old Dylan Butler, a student at Perry High School, also died of an apparent self inflicted gunshot wound. Classes are canceled throughout the school district for today. Florida Governor Ronda Santis and former UN Ambassador Nicky Haley held back to back CNN town halls in Iowa last night as they fight to be primary GOP presidential challenger to Donald Trump, who already has a huge lead in the polls. DeSantis called Haley a phony who is quote playing for voters who are not even core Republicans. I'm the only one that has a chance to beat Trump and win the general election. Nicki Haley can't get conservative voters. She's the darling of the never trumpers. While in New Hampshire, Nikki Haley said of the primary process, quote, Iowa starts at New Hampshire corrects it. So she responded to criticism about that comment during CNN's town hall in Iowa. We're going to continue to be here. I mean, I've told people get used to this face, and I've been here over and over again. But if I didn't love Iowa, I wouldn't keep coming to Iowa. While they did take jabs at each other, Haley and Desantas also focused their attacks on front runner Donald Trump, and next week will be a busy one for Trump. Bloomberg's Nancy Lyons reports Donald Trump has two major court hearings next week. One of them is in Washington on his claim of immunity from charges he overturned the twenty twenty election that's set for January ninth, Then two days later, planning to attend the closing arguments in Manhattan that's for the New York civil trial against him and his sprawling real estate company. Days after that, the nominating process begins with the January fifteenth Iowa CAUCUSUS. Then a day after that, a civil defamation case against Trump begins in New York in which Ejing Carroll is seeking to million dollars in damages. It's unknown if Trump will be attending that trial in Washington. Nancy lyons Bloomberg Radio Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris, and this is Bloomberg Karen. All right, Amy, thanks soby to bring in news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now. You can get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app Bloomberg dot Com, but also apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports update. Here's John stash Hour John Karn. What a game in San Francisco, battle of the last two NBA champions. The Warriors had an eighteen point lead on the fourth quarter on the Nuggets, and then Denver closed the game on a twenty five to four run and he won at one thirty to one twenty seven thanks to Kolo Jokins thirty four points, ten assists, nine rebounds. He hit the game tying shot and then after a Steph Curry turnover, he hit the game winner, a forty footer that he banked in at the buzzer. Milwaukee won at San Antonio won twenty five to one twenty one. This was the first time that Jannis, sent to the Compo won against the guy that many field plays like, Giannis Victor Wembinama. Yanna scored forty four points. Wem bin Yama scored twenty seven. Ricky Rubio, retiring at age thirty three, twelve years and the NBA, played for four teams, most recently Cleveland, who bought out his contract. He was a professional player in Spain at the age of fourteen. Bruins lost at home to Pittsburgh six to five. Sydney Crosby wont it for the Penguin the power play goal in the third period. The Red Sox traded Chris Sale to Atlanta. He just got a two year extension with the Braves for thirty eight million dollars, despite all the injuries he's had in recent years. Week eighteen in the NFL starts tomorrow. Nine teams have Clint playoff spots. Five spots still up for drafts. Buffalo, Jacksonville, Tampa Bay, and Green Bay are in with Week eighteen victories. The winner tomorrow night, patried Houston, and Indianapolis is in the playoffs. Pittsburgh tomorrow needs a win and then a Buffalo loss on Sunday night. John Stashwer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Well. The first weekend of twenty twenty four is going to bring the East Coast the first major winter storm we've seen in quite a while, actually, so let's bring in Bloomberg beedrologist Rob Carolyn to help us get set for what's coming. What you're looking at, Rob, the first accumulating snow of the season for lots of us. It's taken a time for winter to get going, but it's going to get going now with Gangbusters Nathan storm coming out of the lower Mississippi River Valley is going to come up the along the East coast during the weekend, and it's going to bring us eisenble snowfall to many of the suburban locations around the major cities in the mid Atlantic and Northeast. This isn't a huge snowstorm for the District of Baltimore, for New York City or Boston because the ocean is still fairly warm water temperatures than in the forties. That influence is going to mean that we see Boston and New York City, and especially Washington and Baltimore mixing with and changing the rain at times. But once you get inland away from that influence to the ocean, there's going to be some sizeable snowfalls from say Frederick, Maryland, all the way on up through the suburbs north and west of New York City, and then well north and west of Boston. There could be some spots to get over ten inches of snow from this storm, no kidding. So, like you said, it's been a while since we've had a major winter storm along the East coast. I mean, or are we ready for this? I think we're ready. I mean we've had a lot of practice. Anybody over the age of fifteen has seen, you know, a number of snowstorms in their lifetime. But yeah, last winter, I think the deepest snow we saw in the Boston area was like three and a half inches in February. So I think the big problem is going to be pe will not used to driving in it because it's been over a year. The good news is it's falling on a Saturday night and a Sunday in many areas, so their traffic won't be as bad. We don't have school in session, so that'll be helpful. But people are definitely going to have to take some time, particularly in those areas where there's going to be that transition from a mixture of rain and snow to snow, because that snow will be heavier and wetter. Therefore it's more slippery, it's greasy. So those areas just north and west of Boston, New York City, Washington, and Baltimore really need to be careful when the precipitation's falling during Saturday afternoon through Sunday. Well, a lot of people who live along the Interstate ninety five quarriter know that that freeway is often right along the boundary between where rain and snow happens. I mean, if this system sticks around for a little bit longer than expected, could we be in for a pretty dicey Monday morning commute. I think Monday morning is going to be okay, particularly in the district in Baltimore, because it dries out Sunday afternoon, So I think the roadways are going to be okay. York City Boston different story. Those areas where they don't get a chance to clean up the slush along the I ninety five corridor. Temperatures are going to be going down Sunday night, and that's going to have the tendency allow those surfaces to refree. So it could be a little bit more dicey New York City on up in the Boston Monday than it is around the district in Baltimore since it is on the weekend. We think in good skiing, well, you know, the ski areas in northern New England and northern New York State really aren't going to see much from this storm. At all too far out to see. It'll be cold enough so they can make some snow. Where this is going to help out is the resorts in West Virginia and on up into Pennsylvania. They'll do fairly well. The Poconos are going to do great. This is going to be their best snowfall in a while, and they'll have real good conditions come Monday and Tuesday in the Poconos. But for northern New England northern New York State, I think the snowfall amounts are probably going to be under two inches. Well anyway, I guess this couldn't have come in a better time, happening on the weekend. But thanks for this, Rob. Again, that was Bloomberg meteorologist Rob Carolyn getting us ready for the first winter storm for the East Coast of twenty twenty four. Well, let's move on from watching the weather to watching the data. Investors have their eyes out for the last look at the US labor market in twenty twenty three with the December non farm payrolls report. Do out an eight thirty am Wall Street time here to get a set for those numbers. Simon French, chief economist at panmir Gordon Simon. Great to speak with you this morning. Now, the consensus on the Bloomberg terminal, it calls for more moderation, one hundred and seventy five thousand new jobs expected, a tick up for the unemployment rate to three point eight percent. What's your expectation, I think a little bit stronger. Good morning, Nathan. I think the big question for me is US labor market participation appeared to peak during the summer and come back down, but there's conflicting data points as to whether that labor supply pictures is true. And if we start a season more people coming back into the labor market, I think there's potential to still add more jobs than than that estimate. Yes, I think the big influence though for futures on interest rate expectations will be the unemployment rate rather than the number of jobs added, and that I think when you're looking at the kind of rules of thumb we sort of saw the Federal Reserve and moved to in their recent minutes, anything three point eight three point nine will start to firm expectations of the rate cutting cycle this side of the mid year. There's been a lot of talk about four percent potentially being the trigger point for the Federal Reserve to think about cutting interest rates further. Could we see an upside surprise? What's the potential for that? Well, I think four percent is being focused in on by a lot of analysts because of the Palm rule. This is the if you like, the equivalent in the labor market for what we know in the bondom market from a Yeald curb and version is a decent signal of a recession. The Psalm rule looking at er point five five percent increase on the twelve month low point for unemployment, and that would something like four percent would take you there, But you have to get there on a three month average, and we're not going to get that even if we get that print today. But what it would do is it would suggest that by February, the time of the February report, you potentially hit that farm or threshold, which could prepare the ground for rate cutting cycling Q two. So that is why I think analysts are focusing on four percent. Of course, we're going to be keeping an eye out for average hourly earnings as well. Labor force participation feeds into that as well. Where do you see wages going If we find evidence that companies are holding on to employees, or perhaps more people are coming off the sidelines. Yeah, so I think there's I think one of the failures actually of the economics profession in the last couple of years, it's been an inability to recognize that nominal pay awards take their queue from overall price inflation, and therefore I think the helpful price dynamics from gasoline prices, from overall prices coming down in the US economy or the rate of increase coming down, should ever a spillover effect into nominal wage awards. I think there's an over focus, perhaps two model driven from the way central banks model this stuff to look purely at participation in capacity rather than the signals coming from the overall price level. So I actually expect a continued moderation in nominal pay awards with the quits rate and job openings falling as well. What does that tell us, Simon about the state of the US economy. Are you still thinking that we could be in for a soft landing given where labor dynamics are right now? Nathan, I think you know I'm not a fan particularly of the soft landing hard landing descriptor, mainly because lists. Economists, they tend to define it that they see fits reverse fit their narrative. But if you're looking at a moderation of those jolt data points on quits on hires from some very very extreme levels and a moderation without overshooting, then actually that's the message we got from the Joltz data I felt, which is you are starting to hone in on more normalized levels of labor market churn, and that has to be a positive thing, whether it's a soft landing or hard landing in terms of the hard data of economic activity pass but on those metrics, it's quite encouraging. From the Federal Reserve, they've been able to engineer this. We've seen a lot of activity in the options market ahead of this report, a pretty big bet that we could see ten year yields rise more than ten basis points by the end of the day. What kind of volatility are you expecting off the back of this jobs report in the bond mar So, I think that's that would be my whether it's an hourly end of day expectation, some more medium term view from my perspective is the bomb mark has got over excited by the pace of potential rate cups. In my view, I think pricing in five to six for the year when it's unlikely the first pirmacy you're going to have enough data to start cutting before the middle towards the back end of Q two, that becomes a really difficult thing to do with only four better reserve meetings in the second half of the year. So I think that expectation that you allude to of slightly firming yield is consistent with perhaps a reassessment of quite how aggressive the FED can be in the data have in front of them. Got about a minute left here, Simon. Not only is the FED going to be focused on the labor market, but we've got inflation data, more inflation data coming out next week as well. Well. What's your expectation on where we could see consumer prices headed. Well, a lot of the base effects that have been driving US inflation lower over the last twelve months, and this is simply some very exceptional numbers leaving leaving the annual comparison. That does mean we're in for a period where the data is going to bounce around in a sort of stubborn stubborn range around three percent. And the question, I guess the Federal Reserve need to ask themselves not all just based on the data, but their understanding of how price setting is going on at district level as well. Is the degree to which that can over an eighteen month two year of you moderate back towards two percent of their central forecast suggest But actually the real economy is not necessarily showing those signs. So I think we're in for a period where month to month will dot around very uncomfortably higher levels than the two percent targets, and is consistently all be seeing in terms of commodity imple prices shipping rates providing less of a down with base effect push than the single last one month. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Jeffrey Epstein Document Release; Trump Pleads with the Supreme Court; Iran Explosion

Thu, 04 Jan 2024 10:34:56 +0000

On today's podcast:

1) Several previously confidential documents related to Jeffrey Epstein were made public in federal court in New York after a yearslong battle over their release.

2) The US Supreme Court will chart the nation’s political future as it confronts a potentially stark choice over efforts to remove Donald Trump from this year’s presidential ballot for trying to overturn his 2020 election loss.

3) Iran said blasts that killed almost 100 people in a central province were aimed at punishing its stance against Israel’s invasion of Gaza, building on signs the war against Hamas could tip into a broader regional conflict.

Full Transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with previously confidential documents related to Jeffrey Epstein, now made public in federal court in New York. This follows a year's long battle over their release. The documents were part of a twenty fifteen lawsuit against Epstein associate Glene Maxwell, who's serving a twenty year sentence for sex trafficking. Bloomberg editor Tony Aaron says, most of these documents have been seen, but there'd been redactions. A lot of people had thought there'd be some massive client list or a nice list of names that would be easy for them to follow. It wasn't anything like that. We've been getting about so far, about forty of what's probably going to be hundreds of documents, and in those we've seen names like Bill Clinton, Prince Andrew Britain, and a few others that are all very very familiar and Bloomberg's Tony Aaron says former President Clinton Andrev denied knowing about or participating in Epstein's appropriate conduct. Well, Nathan. Ties to Epstein have led to career downfalls for former Barclay CEO Jess Staley and Apollo Global Management co founder Leon Black, and they've harnished reputations of other high profile figures like Bill Gates and Leslie Wexner, though all have denied knowing about or participating in an inappropriate conduct with Epstein. Virginia Juphrey is the Epstein victim who sued to have these documents released. Paul Pelletier is a former federal prosecutor who's been following the case. Part of the reason why Jeffrey Epstein was prosecuted in New York, or at least was indicted in New York, was because Virginia Giffrey would not stop and former federal prosecutor Paul Pelletier was speaking there. Jeffrey Epstein was charged with sex trafficking in July twenty nineteen, but died by suicide in a Manhattan prison cell before he could stand trial. Okay, Karen, Let's turn to politics in the US now. Former President Donald Trump is now asking the Supreme Court to overturn the ruling and Colorado that has kicked him off that state's primary ballot. Bloomberg Legal editor Eric Latterson says this appeal has a number of possible outcomes. The court could rule, for example, that the Colorado Supreme Court didn't give Trump to process. That's another argument that Trump is making. He's also arguing Detection three of the Fourteenth amend that which you borrow's insurrectionist from holding office federal office, doesn't apply to the office of the presidency, and the Supreme Court could overturn that Colorado decision based only on those findings that they wished, without weighing in on whether Trump was an insurrection In Bloomberg's Eric Larson says the former president faces many ongoing legal cases, but he is still the front runner for the Republican presidential nomination. Now Nathan to an issue that's expected to weigh heavily on voters' minds in the twenty twenty four presidential election. Immigration at the southern border. Republican House Speaker Mike Johnson is pushing for a GOP only border bill, Democrats argue goes too far in securing the US border with Mexico. Johnson led a GOP delegation into the border yesterday as Republicans look to pressure Democrats on border policy changes. The impassover immigration has complicated congressional talks to avert a partial government shut down later this month, and puts more than fifty billion dollars in military at Ukraine at risk should talks collapse. As for rising tensions in the Middle East, care and authorities in Iran say two deadly explosions in a central province our retaliation for its stance against Israel. The US says it has nothing to do with the attacks. Bloomberg's Ed Baxter has the details, and it says neither did Israel. Iran is characterizing them as terror attacks. More than one hundred people killed. The blastnare the grave of Iranian commander Solomane. US State Department quick to respond, spokesman Matthew Miller, I do want to address some of the irresponsible claims that I have seen circulate and say that number one, the United States was not involved in any way, and any suggestion to the contrary is ridiculous, and number two, we have no reason to believe that Israel was involved. Miller says it's in no one's interest to see the conflict escalate, and note it comes a day after an attack in Beyrout that killed in Iran backed Hamas militant leader Ed Baxter Bloomberg Radio, all right, ed, thank you well. Separately, more than a dozen countries we're in the around backed Houthi group in Yemen against continuing their attacks on shipping in the Red Sea. The attacks have disrupted global commerce and triggered a build up of Western naval power in the area. Sources say the US and its allies are considering possible strikes against the Houthis. I'm a concern that the maritime task force launched by Washington may not eliminate this threat to the vital waterway, which normally handles about twelve percent of global commerce. Let's turn out to the economy, Karen and the release of the December FED minutes. Officials expect rates to remain in restrictive territory for some time, but they acknowledge those rates have probably peaked, and Richmond FED President Thomas Barkin says a soft landing is not inevitable. I'd caution you to focus less on the rate path and more on the flight path. Is inflation continuing its descent and is the broader economy continuing to fly smoothly? Conviction on both questions will determine the pace and timing of any change in rates. Richmond Fed president Thomas bark And also did not rule out a March interest rate cut. And in corporate news, Nathan's social media giant TikTok's looking to grow the size of its US e commerce business tenfold to as much as seventeen point five billion dollars this year. Bloombergy tech reporter Alex Spirinka says TikTok's ambitious target may pose a bigger spread to Amazon. Where TikTok is winning is on the fees they're imposing on verchips. They will be raising those fees to six percent in April eight percent in July, but those fees are still lower than Amazon seller fees. On TikTok, They're hoping that you're so engaged in trance and have an emotional connection to the people who are posting these videos that you trust them when they say they like a product, and that makes you want to buy it. And that's Bloomberg's Alex Spirenka. Now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris. Samy. Good morning, Good morning, Karen. We're watching a winter storm that's expected to bring snow, rain, and wind to the East this weekend. Bloomberg meteorologist Rob Carolyn has details first significant storm of the season looks like it's headed towards the Northeast and mid Atlantic this weekend. Now, the major cities are probably going to be spared heavy snowfall due to the fact the ocean's still warm, and there'll probably be some mixing with rain and d C Baltimore, also in the New York and Boston area, but north and west of I ninety five, that's where heavier snowfall is likely and less mixing or no mixing at all, and that's going to result in probably a three to six inch snowfall, if not more, north and west of Boston, New York City, and d C and Baltimore. The cities, though d C, Baltimore, New York, and Boston should only end up with about one to three inches as it looks like right now. Now. If this does materialize, it would be the first measurable snow in two years for DC, Baltimore, Philadelphia, and New York. A bomb thread email to officials several states yesterday briefly disrupted government affairs and prompted some state capital evacuations, but the FBI quickly dismissed the threats as a hoax. Connecticut, Georgia, Hawaii, Kentucky, Maine, Michigan, Minnesota, Mississippi, and Montana all the some of the states that evacuated state houses or buildings. Kay Kirkpatrick is a state senator in Georgia. I'm not even sure what would motivate somebody to do something like that that could potential result in loss of life. The FBI says it takes hoax threats very seriously and that investigation is ongoing. We told you how Donald Trump's legal team is appealing to ruling by the main Democratic secretary of State that he is ineligible to appear on the state's GOP primary ballot. Will Fellow GOP presidential candidates have called for that band to be reversed, including former South Carolina Governor Nikki Haley, who says taking Trump off the ballot will lead to more problems. Don't open a door you can't close, and this is a dangerous store to open, and we need the Supreme Court to s been quickly before we have too many states do this still. Haley says she's not surprised to see Trump in a new legal struggle. Scientists say they've developed a new kind of antibiotic to treat dangerous bacteria resistant to most current medicines. The researchers from Harvard University in Hoffman Laroach say the new antibiotic can effectively kill bacteria that cause serious long urinary tract and blood infections. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris, and this is Bloomberg Karen right, Amy, Thank you well. As Amy said, we do bring in the news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Just subscribed to Bloomberg News Now. You can get the latest headlines at the click of a button. Get informed right on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com, plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stanshower. John Canon, the Lakers have hoisted a Championship enner this season. They won that NBA in season tournament, but overall they're under five hundred. Lost at home to Miami one ten to ninety six. Quiet night for Lebron James only twelve points. He shot six of eighteen. The Lakers have lost three in a row eight of their last ten. The Clippers, meanwhile, have won thirteen their last fifteen point thirty one one twenty two at Phoenix, Paul George scored thirty three points cow while Leonards scored thirty. Look at Gonson's went for forty one. Dallas blew out Portland by twenty nine. New Orleans won at Minnesota. That's the first two game losing streak of the season for the Timberwolves. Two top twenty five teams played. They both lost. Number twenty three Providence beaten by Seaton Hall, sixteenths Bank Clemson lost at Miami. It's week eighteen. A lot of the teams, already knowing that they're going to the playoffs, cannot move up in the seedings, so not surprisingly will not play their starting quarterback this weekend. No Lamar Jackson for the Ravens will be replaced by Tyler Hunley. Joe Flacco will sit out for the Browns. It will be Jeff Driscoll no Patrick Mahomes with a Chiefs Blaine Gabbertt replaces him. Carson Wentz fills in for Matthew Stafford on the Rams, and the forty nine Ers will go with Sam Darnold and sit out Rock part Perty who's going to the Pro Bowl. The forty nine Ers lead the way with nine Pro Bowl players, seven from the Cowboys and Ravens, six from the Dolphins and the Eagles. Trevor Lawrence will play for Jacksonville. The Jaguars, with a win will win the AFC South. He missed last week's game and Josh Allen's got the stinger, but he will play for the Bills in a big game at Miami. John Stashley that we're Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Sirius Exam, the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager on a morning of busy news flow. Jeffrey Epstein's ties to politics and Wall Street are back in the spotlight with the release of dozens of formerly sealed documents. Donald Trump is taking his fight to stay eligible to run in twenty twenty four to the US Supreme Court, and border politics could run up against Congress's effort to keep the government from starting to shut down in a little more than two weeks. Lots to discuss this morning, and here to do that with us now is Bloomberg News correspondent Bruce Einhorn. Bruce, thanks for being with us. Let's start off with the revelations, if any, that we got from these documents that were in the Jeffrey Epstein case that had really been a year's long effort to get them out. Did they shed any new light on Jeffrey Epstein's crimes, Well, so far there aren't too many surprises. So these are the first of what are expected to be hundreds of documents identifying more than one hundred and fifty people. These are documents that had been filed and redacted as part of a twenty fifteen lawsuit against just Laying Ma Well. She, of course, was an associate of Jeffrey Epstein. She was convicted in twenty twenty one of participating in his crimes. He himself died in prison before he ever went to trial. So some of the names that were in the unsealed documents included former President Bill Clinton, Prince Andrew Written. These are names that had already been out there. Former President Trump not mentioned in these documents, but had been identified in testimony in this case, along with former President Clinton as some of the people who had flown on Jeffrey Epstein's plane. So there's maybe more news, more revelations as more of the documents are unsealed, but for now, no big surprises. Yeah, a lot of people have been following this case. Bruce had been expecting or speculating at least that there might be some kind of client list that's been under seal in New York Federal Court. Do we have any indication at this point that such a list exists and could be unveiled at some point. It's possible. At the moment, we don't know about a client list. No, Okay, let's turn to what might have been the other major story otherwise, former President Trump taking his fight to stay on the ballot at least in Colorado to the United States Supreme Court. This is a notable moment in the twenty twenty four rays yes, and the arguments that former President Trump makes are interesting. He has a couple of different arguments that he makes on why the Colorado Supreme Court aired. First of all, he said that one that it would move would unconstitutionally disenfranchised voters in Colorado and potentially disenfranchised voters elsewhere. He said that his lawyers say that in the filing that that insurrection UH was understood by the framers of the Fourteenth Amendment to mean something very specific. According to form President Trump s luers, it meant taking up arms and waging war against the United States, and that's the way that the fourteenth Amendment should be read now, and therefore it doesn't apply to him. This is his argument. He also argued that the fourteenth Amendment, which says very specifically that this that an officer of the United States who UH engaged in an insurrection is ineligible, that that does not include President of the United States and therefore again shouldn't apply to him. And then he also UH criticized the Supreme the Colorado Supreme Court for relying on evidence from the January fourth Select Committee. He said that that's inadmissible and then also said that the insurrection clause in the fourteenth Amendment isn't self executing. This is an argument that constitutional experts have been having about whether or not it is self executing. That is to say that does Congress need to do anything set up procedures for determining whether someone's violated, or can the court just make that decision itself. These are all the arguments that Trump's making, and you know next step is for to hear with the Supreme Court system. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one Ishington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app, SERRIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Harvard President Resignation Fallout; Trump Sues Maine; Wall Street Tech-Selloff

Wed, 03 Jan 2024 10:28:45 +0000

On today's podcast:

1) Claudine Gay is stepping down as president of Harvard University, ending a brief and tumultuous tenure marred by allegations of plagiarism and a campus controversy over antisemitism.

2) Donald Trump filed a lawsuit seeking to restore his name to Maine’s presidential primary ballot after the state disqualified him over his attempt to reverse the result of the 2020 election he lost to Joe Biden.

3) Traders hoping that a pan-markets year-end rally would pick up where it left off got the opposite on 2024’s first trading day, a session that featured one of the worst-ever concerted drops in stocks and bonds to start a year.

Full transcript:
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the leadership shakeup at the top of the IVY League. Claudine Gay is stepping down as president of Harvard University weeks after her highly criticized congressional testimony about the school's handling of campus anti semitism, alongside the presidents of MIT and the University of Pennsylvania. Bloomberg's David Weston begins our team coverage. It has been sort of a firestorm for these three presidents to deal with exactly how you control and influence discussion on the campus. There were also questions that developed over time about some of the work that President Gay had done for her dissertation for her PhD, and allegations that she had improperly used sources that she did not identify. Initially, the Corporation of Harvard, which is what they call the Board of Trustees of corporation, said there'd been an investigation and they had totally exonerated her. There was no problem. But now she said, she stepped down, and I take her to ward. At this point, and at some point, a leader becomes a distraction. Bloomberg's David Weston reports this is a dramatic about face for Harvard. Claudie Gay became the university's first black president just six months ago. Well Nathan, one of Gay's harshest critics, says her stepping down is long overdue, and Bloomberg's At Baxter has that part of the story. Congresswoman Elis Stefanik says Gay in the December hearing never condemned calls for genocide against Jews as a violation of university policy. This is part of what Gay said at that December hearing. We embrace a commitment to free expression, even of views that are objectionable, offensive, hateful. Stefanica is a Harvard alum who said Gay's statements were morally bankrupt. And Bill Ackman now who's also gone after Gay posted at two sally an apparent reference to the president of MIT at Baxter Bloomberg Radio, okay, and thanks. Sticking with politics, another legal battle is set in motion involving Donald Trump's ability to return to office. S Bloomberg's Amy Morris has the latest. Trump is not just appealing the decision in Maine to remove his name from the primary ballot. He's also suing the official mains Secretary of State, Senna Bellows, who made that decision. It's another legal argument that will likely be settled by the US Supreme Court, along with a case from Colorado where a group of voters is calling for the justices to quickly step in. They're asking for that case to be expedited. They'd like a ruling by February eleventh, and we could learn whether the Supreme Court will it Dervine in the Colorado case by this Friday. In Washington, Amy Morris, Bloomberg Radio. All right, Amy, thanks now to the latest developments in the Middle East. A senior Hamas leader has been killed by Israel on a explosion in Beirut. Hamas says Israel killed Sileai al Rory, deputy headed the group's polit bureau, who was known as the mastermind behind its armed wing in the West Bank. Began more from a Bloomberg Silary Liebert, it's sort of a no brainer that if they had a senior Hamas leader, they could find an attack who wasn't in some underground hiding place wherever he was, if they would go after him, and Bloomberg Larry Liebert. It says aler Rory would be the most senior Hamas leader killed during the war. Turning to markets now, Karen wall Street kicked off the new year with a thud. Both tech stocks and treasuries sold off. The Nasdaq one hundred index fell one point seven percent, at benchmark's biggest drop in two months. Rich Weiss is chief investment Officer of multi asset Strategies at American Century Investments. If you look from the start of twenty twenty two through the end of twenty twenty three, cash basically outperformed most equities, maybe not the Magnificent seven, but most equity portfolios. So cash has been king, likely to be king at least for the first half of this coming year, at least, we believe American Century Investments. Rich Weiss thinks it could be a tough earning season for corporate America well. One of the biggest losers in yesterday sell off, Nathan was Apple I lost more than one hundred seven billion dollars in value after Barclay's analysts downgraded the tech giant. Bloomberg's Mark German explains the bearish view of the iPhone maker four quarters plus in a row of holiday declines. The earnings report that's coming at the end of January early February will indicate that Q one was either in line, maybe a little bit more a little bit less than the prior quarter. You have these patent situations which are likely to crop up in higher frequency now given the success that Massimo has had over the past few months. And Bloomer's Mark German notes that Apple shares rose around fifty percent to a record last year. Well, on the flip side, shares of JP Morgan closed at a record to kick off the new year. The bank's rebound from its twenty twenty two low has now pushed its market capitalization to about five hundred billion dollars. The lender's been a top performer in the banking industry following record results last year. Well Nathan investors will turn their attention for more clues on the future of interest to rates. This afternoon, the Federal Reserve issues minutes of dece meeting, and Bloomberg's Vinidel Judai reports Bloomberg Economics as the minutes could signal interest rate cuts aren't imminent, they'll fetcher. Jerome pal did strike a dubvish tone last month's news conference that officials voted to hold the benchmark interest rate target steady for the third time at December's meeting after more than a year of tightening. Next session, January thirtieth and thirty first. Also on today's US economic agenda, job openings, as well as ISM factory data. If Anny Dale, Judeace, Bloomberg Radio, Sorry, and Ethan Thanks. It's time out for a look at some of the other stories making news around the world, and for now we're joined by Bloomberg's Amy Morris. Amy, good morning, Good morning, Karen. Migrants sent mostly from Texas, have been showing up at train stops outside New York City over the weekend, sidestepping a new order limiting how they arrive. Hundreds of migrants took a detour in New York and New Jersey to bypass the New York order limiting the seat the number of arrivals. New York City and Chicago recently began restricting migrant bus arrivals, and now the crackdown spreading to the suburbs. Woodstock Mayor Michael Turner spoke at a city council meeting, we do not have the staff the expertise for the money, and that may not be the ideal. We may all wish it was something different, but that's the reality for Chicago. Suburbs in Hinsdale, Woodstock, Buffalo Grove, and Juliette taking official action now passing ordinances to find bus companies dropping off migrants without notice. Meanwhile, four ports of entry at the southern border will be reopened tomorrow. Those ports were closed because of a record influx of migrants. Officials said closing the border crossings was just a last resort to stem the flow of people crossing the border. Hospitals across the country now initiating some new policies in response to a rise in respiratory illness cases, more emergency room visits because of flu, COVID and RSV, prompting some hospitals to require prior off authorization for visitors younger than twelve years old. Duke Health infectious disease specialist doctor Cameron Wolf says, for the most part, people understands it. Ever easy decisions like people want to be able to come and visit their love ones in a hospital, but I think in general people understand. The CDC says more than half the country is experiencing a rise in COVID flu and RSV cases. Hospitals in at least ten states and Washington, DC have now reinstated mask mandates. Israel is planning to withdraw several thousand troops from the Gaza Strip. The IDF announced the move, noting the nearly three month war has taken a growing toll on the Israeli economy. The United Nations says more than eighty five percent of Gaza's residents have been displaced from their homes and the fighting has left more than twenty thousand people dead. And a messy winter storm is headed for the East Coast this weekend. Forecasters are expecting measurable snow from Washington, DC to New York and rain showers down south. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morrison. This is Bloomberg Karen all right, Amy, thank you well. As Amy said you, we do bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. You just subscribed to Bloomberg News. Now he can get the latest headlines right at the click of a button get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update, here's John Stashaur John Karen. Just two years ago, the Oklahoma City Thunder lost fifty eight games. This year they might end up winning fifty eight. Fifth straight win for OKC now twenty three at nine on the season. They beat the league leading Celtics one twenty seven to one twenty three. Shay Gilgess Alexander's been on a scoring tear. He went for thirty six points. Christaph Porzingis had Boston with thirty four. Jayson Tatum scored thirty, but Jalen Brown shot only four of eighteen thirty six points for Steph Curry's Golden State Feed, Orlando won twenty one to one fifteen. Terry Rozier scored thirty four Charlotte with a win at Sacramento, John Moran twenty six points, ten assists Memphis Town San Antonio and Joe Lamby thirty one points at a triple double easy win for Philadelphia over Chicago. The Sixers were up by twenty five in the first quarter New Orleans out of twenty five point lead at halftime. Pelicans rolled to an easy win over the book for the Nets Perdue number one in college basketball and now thirteen and one boiler Makers with a big ten win at Maryland sixty seven to fifty three. Acced Duke rolled pass Syracuse eighty six to sixty six, Big East Yukon and easy win over De Paul eighty five to fifty six. College Football's National Championship game Monday in Houston, and Michigan is a four and a half point favorite to beat Washington. Both teams are undefeated, but Washington has only had one win by a ten or more points since September. They may not have running back Dylan Johnson. He got caught it off late in that semifinal win over Texas Johns Dan Shower. Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Washington may have just flexed its muscles with the IVY leagues now that Claudine Gay is stepping down as president of Harvard University, comes weeks after widely criticized testimony about her handling anti Semitism on campus alongside the presidents of MIT and Penn, along with new questions specifically about Clining Gay's academic record some of her past dissertations. Meanwhile, with less than two weeks until voting begins in the Republican presidential race, former President Donald Trump is fighting to stay on a second state's primary ballot after Maine kicked him off over his actions on January sixth, twenty twenty one. Lots of political news to discuss this morning, and here to do that with us is Greg Valier, chief US policy strategist at AGF Investments. Greg, good morning. First, I want to get your reaction to the sudden departure of Claudine Gay as Harvard University. She just became Harvard's first black president in July. Now, apparently after this widely panned congressional testimony and the mounting political end donor pressure, she's out. I mean, what does that say about Washington's influence over higher education. Well, there is influence, Navan, good morning, But I think a bigger factor may have been the donor's donations were way down and applications were way down, and I think that may have had a bigger impact. Well, we did have the impact of a last Stephonica Harvard alum with that viral testimony, the questioning that she gave asking them pointedly whether calling for the genocide of Jews it violates school policy, and sort of wiggling on the answers. I mean this says something about a least stephonics clout as well, doesn't it. Yeah, two points. First of all, I think she is going to be a real player. She is already, but I think she's going to be a pit bull on these issues and she summoned to watch over the next few years. Secondly, I think that the university presidents, all three of them, were just extraordinarily tone deaf. You know, maybe what they said technically was correct, but it certainly did not soothe the issue. It just inflamed the issue. Not just that we know that the committee that brought those university presidents to Capitol Hill is expanding its investigation into some of these allegations of plagiarism against now former president Claudine Gay. Where do you see this investigation going into what's happening on these campuses. Well, I think that that is going to be fair game throughout the country, and I think it's not just these three presidents. I think it's probably a lot of other university officials that are now going to have to worry. I want to talk about the constitutional crisis potentially here with former President Donald Trump now suing to try to stay on Main's primary ballot after the Secretary of State made that move. Where do you see this going? Well, first of all, Nathan, I think it's probably ninety ninety five percent chance that the Supreme Court will take the issue. I think they have to beyond that. I think the odds would favor this court, which has three Trump appointees of six to three conservatives on the court. I suspect they would reject the argument that Trump has to be taken off the ballot. I think the Court could decide this within the next few weeks, before Super Tuesday on March five. I think that in the final analysis, Trump will be on the ballots. There is a difference between a secretary of state making a move like this and a Supreme Court like what happened in Colorado, Does that make any difference for the Supreme Court if it does come to that. It could, and there will be lots of issues debated, but I think the main one is can you quickly prove that Trump supported an insurrection? I mean that's a case that could take years, certainly many many months, and we don't have that kind of time with an election coming up. So barring any definitive ruling on the January sixth insurrection, I just don't see this going anywhere. Well, that being said, why do you think the Supreme Court would make a decision quickly if, as you say, it would take a substantial amount of time before the Supreme Court to determine whether former President Trump did indeed commit insurrection? Well, I think the Court we'll just have a cotton dried decision saying that that they don't have the jurisdiction right now to define insurrection or decide whether there was insurrection. And I think without that finding, again, I just don't think it's going to go anywhere. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Election device. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERRIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Middle East Tensions Escalate; Wall Street 2024 Predictions

Tue, 02 Jan 2024 10:32:38 +0000

On today's podcast:

1) Iran dispatched a warship to the Red Sea after the US Navy destroyed three Houthi boats, a move that risks ratcheting up tensions and complicates Washington’s goal of securing a waterway that’s vital to global trade.

2) If the consensus on Wall Street is often wrong — and evidence from 2023 does little to dispel that notion — then in the year ahead investors are facing either the mother of all rallies or a selloff for the ages.

3) ASML Holding canceled shipments of some of its machines to China at the request of US President Joe Biden’s administration, weeks before export bans on the high-end chipmaking equipment came into effect, people familiar with the matter said.

Full Transcript:
Good morning. I maybe Morris and I'm Karen Moscow. Here are the stories we're following today. We begin with oil rising to start the new year, Iran sending a warship to the Red Sea in an escalation of tensions in the region. The show of force comes after the US Navy destroyed three Hoothy boats which we're attempting to board a container on New Year's Day. Elizabeth Kendall is a Middle East specialist from Cambridge University and says the two are clearly interlinked. Aaron is puppeteering Hamas, the Hoothy's and other movements like Hezbollah in the Middle East, and the houthy slogan indeed includes the words death to Israel and a curse on the Jews, so it's very much aligned with Hamas's more militant and extreme war wing. Cambridge University's Elizabeth Kendall checking oil right now, Nie makes crude oil up more than two percent or a dollar forty nine now trading at seventy three dollars and thirteen cents a bit. Well, Amy, oil isn't the only thing on the move this morning. We're also seeing Bitcoin on the rise, following through on last year's massive rally, and we get more from Bloomberg Markets reporter Joe Easton. It is up another four percent at the moment, at the highest level since April sixth, above forty five thousand dollars for the first time in two years. This is due to the expectation of the direct investment from this ETF, so that is boosting sentiment and a lot of positivity. People looking for more technical levels for that one to keep going higher. And Bloomberg Joe Easton says Bitcoin has risen over twenty percent since has started December, as that January tenth deadline for the Securities and Exchange Commission to give its blessing for a spot bitcoin ETF dra us closer checking bitcoin right now, it's at forty five seven hundred dollars over in Europe's stocks are also higher to kick off the new trading year. Let's get the latest from Bloomberg Daybreak euro banker Stephen Carrol. Stephen, good morning, Amy and Karen. The tensions in the Red Sea are playing into the market narrative in Europe today. Shares and the shipping giant Marisk have risen after it stopped using that key trade route for forty eight hours following the weekend attack on one of its vessels. Higher oil prices are also helping to lift oil majors, making energy one of the best performing sectors on the Stock six hundred. More broadly, it's the Spanish and Italian markets which are out performing, boost it by a rise in bank shares. In London, Stephen Carrolt Bloomberg Radio, All right, Stephen, thank you all. Back here in the US, Wall Street returns to a holiday shortened week to kick off the new trading year, and we get a look ahead from Bloomberg Shirlie Pellett. The S and P five hundred index sits within striking distance of its first in two years. But a key challenge for markets is the outlook for the economy and corporate earnings. Michael Binger is the president of Gradient Investments. The economy I think is very resilient. Jobs are driving that, corporate profits are supposed to grow about ten eleven percent. And valuations, I mean they're not really cheap, but they're not super expensive either in the markets right now. Among this week's earnings reports, Constellation Brands and Walgreens Boots Alliance in New York Charlie Pellett Bloomberg Radio. Thank you, Charlie. In twenty twenty three, some of Wall Street's biggest names got it wrong with their predictions for how markets would perform, So will they fare better? In twenty twenty four, Bloomberg has compiled more than six hundred and fifty calls from strategists in Today's Big Take. Sam Potter is a senior markets editor for Bloomberg. Most strategists on Wall Street see the interest rate tykes of the past eighteen months to two years finally starting to bite economies generally around the world, stock slow, and that will kind of pre run a central bank pivot roundabout mid year. Bloomberg Senior Markets editor Sam Potter adds that strategists see the main risks to the markets inflation and the US election. Well. In corporate news, Amy Chinas BYD may have just overtaken Tesla as the world leader in EV sales. It's still more than five hundred twenty six in fully electric vehicles in the fourth quarter. Bloomberg's John Lewis more from Beijing when BYD Tesla, it'll do two things. I think that's going to put this company into the consciousness of people around the world in a way that that company has not had ever before. The number two thing it does is it really underscores how dominant a position China not only as a market, but as a country with lots of companies producing electric vehicles, how dominant a position China has in that industry now and Bloombergs John Lusa's Tesla is estimated to have delivered over four hundred and eighty three thousand in the fourth quarter alone. Speaking of China, President Xi Jinping has pledged to strengthen his country's economic recovery after a tough year. Bloomberg's Jenny Marsh has more from Hong Kong. This is Chi Jinping's new yas Eve's speech, and he normally uses it to so trumpet the achievements his nation's major in the year. And I think this speech really stood out for how candid he was being about these problems. It's the first time he's acknowledged that the struggle that twenty twenty three have brought. It also sort of underplayed in some ways the problems that are still lying ahead in twenty twenty four for the economy. And he didn't really have any sort of quick fixes for that. Bloomberg Jenny Mark says China is entering a pivotal period as policymakers try to boost growth, stabilize a crisis in the property market, and prevent deflation. Beijing is expected to target a growth goal of around five percent again in twenty twenty four. Meanwhile, Amy, the Biden administration has won another battle and its effort to try and slow Shina from building its own semiconductor industry. We get more with the Bloomberg's Ed Baxter, ASML Holding is canceled shipments of some of its machines to China at the Biden request. This week's before the export bands on the high end chip making came into effect, the Dutch manufacturer had licenses to ship three top of the line deep ultraviolet lithography machines, but before the deadline it decided to cancel the orders. The US and allies have been trying to block access to the technology. Ed Baxter, Bloomberg Radio, Thank you care in time 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 bar Good morning, Michael, Good morning, Amy The death toll has now climbed to forty eight. After a magnitude seven point six earthquake struck Japan. The quake hit off the Noto Peninsula on Japan's northwest coast. This man at Tokyo resident and US national, was visiting to Yama when the quake hit. First. The trim had just done it very slowly, and everybody kind of left it off, you know, they thought, oh, this is this is kind of humorous, you know, on New Year's Day, and then then it is just a violent shape. The tremor was followed by hundreds of aftershocks. A plane is on fire right now on the runway of Tokyo's Hanada Airport. Authorities say a large burst of fire erupted from the side of a Japan Airlines plane as a taxi on the runway. All of the three hundred and seventy nine passengers and crew were said to be safely evacuated. Israel Supreme Court struck down a key component of Prime Minister Benjamin Etnaho's contentious judicious overhaul before the October seventh to Maas attack into southern Israel. The planned overhaul sparked months of mass protests threatened to trigger a constitutional crisis between the judicial and legislative branches of government. The FBI's Joint Terrorism Task Force is assisting police in Rochester, New York, to investigate a car crash that killed two people and injured five others outside of Performing Arts theater in the early hours of New Year's Day. The crash happened in front of the Kodak Center. It became a large scene due to a fire which had erupted as a result of the crash, and police also say several gas cans were found in and around the striking vehicle. Rochester Mayor Malik Evans I want to offer my condolences to those families, those individuals that lost their lives, and I asked the community to pay pray not only for those that have lost their lives, but also those that are injured. Terrorism investigators are trying to determine if this was just a car accident or something far worse. New York City's effort to stop migrant buses has resulted in the buses arriving instead in neighboring New Jersey. Over the weekend, buses from Texas and Louisiana began dropping off asylum seekers at several New Jersey transit stations. From there, the asylum seekers are believed to have taken trains to New York City. Edison, New Jersey mayor Sam Joshi says the buses are a major risk to health and security. The solution for me, as the mayor of Edison, is not to pawt it off to another mayor. Global news twenty four hours a day and whenever you want it with the Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Aamy all right, Thank you, Michael, And we do bring the news throughout the day here on Bloomberg Radio, and now you can get the news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Sports Report, brought to you by Tri State Audi. For that, we bring in John stash Hour. Thanks Amy Kevilo. Terrific gains of the college football playoff semifinals overtime at the Rose Ball after Michigan tie to Alabama. The lad touchdown in ot Wolverines had the ball first out of the shotgun. Paura McGain This tiny poussi he's got the first out of more porm inside the five porm space is way across the goal line. Touch down Michigan seven. Take your touchdown run ESPN the call Michigan and stop BAMACB Jalen Milroe on a fourth down and one twenty seven to twenty JJ McCarthy through three TD passes, and then came the Sugar Bowl where Washington never trailed that at thirteen point lead been WITHY through the fourth quarter. Texas rallied had four chances to take the lead the final fifteen seconds, but ended the game with three incompletions on the Husky survive thirty seven thirty one. Their QB Michael Pennix Junior threw for four hundred and thirty yards. Championship game next Monday in Houston, both Michigan and Washington will go in fourteen and oh I Fiesta Ball, all Oregon forty five to six over a limitary vote next to five TD passes Sitters pull in Orlando, All Tennessee thirty five nothing over Iowa. LSU won the RELYA Quest in Tampa thirty five to thirty one over Wisconsin. Nicks happy to start the new year at the Garden after an ohen three road trip, they beat Minnesota, won twelve one to OH six. Julius Randall Port in thirty nine points. O g Onnobi made his next debut. He played thirty five minutes before found out. He scored seventeen in Toronto. RJ. Barrett and Emmanuel quickly debuted for their new team. Scored nineteen and fourteen points in a Raptors win over Cleveland. Outdoor Hockey in Seattle, crowd of forty seven thousand to see the Kraken shoutout Vegas three to nothing. John Stashwin Bricksport from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Day Break. Good morning. I'm Amy Morris, and we are entering the first week of trading for twenty twenty four. As we do most investment outlooks from major banks and advisors are predicting the same middle of the road scenario for the coming year, an economic slow down, a central bank pivot, and a late year rebound. We're joined by Dennis Gartman, University of Akron and Dowment chairman and former publisher of the Gartman Letter to sort of set us straight on what we can expect for the coming year. Now, Dennis, the dollar closed out its worst year since twenty twenty, the S and P five hundred rose nine straight weeks. Are these trends bound to continue? I have my doubts to the latter trend will continue. I think stocks are extremely overbought. The market has risen on an anticipation of three, four, five six cuts in the overnight Fed Funds rate by the Federal Reserve Bank. I have my doubts as to whether that will occur. I think that the Fed is done raising the overnight Fed funds rate. Of that, there's no doubt. But whether they're going to cut five or six times, I think is very doubtful. I think we have to anticipate the fact that the Federal will delay any change in the overnight Fed funds rate lower to later this year. There's too much anticipation that the FEDERALI begin cutting the overnight funds rate by March. I think it'll be late in the summer, maybe early into the autumn before it happens, But we shall see. Time shall tell. I think stocks, however, are aggressively overbought, have been for some while, and it seems to me this looks very similar to what happened in twenty twenty one twenty twenty two, when we reach the higher the market on the opening day of twenty twenty one and then ended up having a rather substantive decline in prices. So time shall tell. We'll see. But too much anticipation of too much easier possible abilities on the part of the Fed that I don't think are going to happen. Now, we have a job's report coming out on Friday. What are you watching for in that and how that might impact it? Long ago I quit anticipating the over the employment rates because of the fact that we tend to see such huge numbers of revisions from one month to the next. But right now the market is anticipating an increase of about one hundred and seventy five to one hundred and eighty five thousand new jobs. We shall see if that if that occurs, but it's one of the most radically revised reports of the year. Every month the revisions are forty to fifty thousand plus or minus. So right now the market is anticipating one hundred and seventy five to one hundred eighty five thousand times. Shall tell Barkley is predicting a softest landing. Vanguard JP Morgan expecting a mild recession. But you know that's what everybody predicted for twenty twenty three as well. What's the difference now. I was one of the people that expected to see a recession in twenty twenty three, and clearly we have not had that. The market is now anticipating the softest, the best of all kind of soft landings imaginable. I have my doubts as to whether that will occur, but that's what the market anticipates, that's what the stock prices have anticipated, and that's what the world generally anticipates. Whether whether it happens or not is up for debate. I have my doubts. Seriously, though we are over extended to the upside. We were long overdue on a recession because of the FED tightening monetary policy over the course of the past several years, and there's always law long and reasonable legs between the monetary policy and economic activity. And I think we be recessionary before the end of the year, but I don't think it'll be a substantive one. I think it'll be a very quiet one. Time. However, again, as I've said too many times already this morning time show, tell Yeah, I was about to ask you what kind of recession you were looking for. You're expecting a softest landing. Yeah, yes, I think it'll be a very soft one, a very minor one. We've seen these types of recessions before. But I think it'll be a very a very quiet and not anything like we saw in seventy three, seventy four, not anything like we saw in eighty one, eighty two, not anything like we saw in nine. But it'll be a recession, and it'll be a quiet increase in over in the unemployment rate to probably four or five percent before it's done. What do you see with oil and gold in this new year? Gold is opening up very strongly right now, and I think gold wants to go from the lower left to the upper right. It's been a bull market for a while, and I think gold wants to go higher. Clearly, it's heading about twenty one thousand before before too long, I think it goes to twenty two or twenty three thousand before the year is out. I have been very bearish on crude oil for a while because the term structure has been overly overtly barished, with the front month leading on the downside and failing to gain upon the back moths when the market when the market rallies. But now all of a sudden, we're starting to see the term structure beginning to change a little bit, and everybody's watching what's happening in the Gulf of so As. I think that's only gonna get worse, not better. And for the first time in months, I'm actually not bearish of crude oil. I'm starting to turn bullish of a Timeshall tell, but this is the first time in months that I've actually been have not been bearish on the crude oil market because of the changing nature of the term structure. You are listening to Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus listen coast to coat on the Bloomberg Business app, Sirius Xmbiheartradio app, and on Bloomberg dot Com. I'm Amy Morris and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Bloomberg Daybreak Holiday Special - New Years Day 2024

Mon, 01 Jan 2024 10:00:00 +0000

Bloomberg's Nathan Hager spends the hour covering the biggest tech stories from 2023 and what we can expect for the year ahead. He speaks with Gene Munster of Deepwater Asset Management and Dan Ives from Wedbush.

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Daybreak Weekend: December Jobs, UK Restaurants, APAC Markets

Sat, 30 Dec 2023 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we look ahead to Friday's December jobs report. Bloomberg Economics says the data should show job growth resuming its slowdown and the unemployment rate edging up.

In the UK - consumers are feeling the pinch from the higher cost of living - but they're still spending enough to fuel London's restaurant and cultural scenes. The weaker pound versus the dollar has also helped attract more big-spending tourists, particularly from the US. We check in on the restaurant scene.

In Asia - as 2023 comes to a close, we take a look at what's ahead for markets in China, India and Japan in 2024.

In Washington - while our attention is focused on the presidential election in 2024, a possible government shutdown and other disruptions loom.

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Trump Banned from Maine Ballot; Supply Threats amid Red Sea Attacks

Fri, 29 Dec 2023 10:31:42 +0000

On today's podcast:

1) Maine’s secretary of state ruled that Donald Trump cannot run in the state’s Republican primary, citing his efforts to overturn the 2020 election results.

2) The US military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi rebels show no sign of stopping.

3) Nvidia Corp., the world’s most valuable chipmaker, is selling a less-capable version of its best graphics product for video gamers in China, after the US government tightened restrictions on what the company can market in that country.

Full Transcript:

Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. Let's begin with politics and another ban for Donald Trump. Maine's secretary of state has removed the former president from the Republican primary ballot ahead of the twenty twenty four election. Details this morning from Bloomberg's Ed Baxter, Secretary of State Shedd of Bellows, is using the insurrection clause to become the first election official to take unilateral action. Bellow says insurrection for his activities in the January sixth election overturn riots. The Trump campaign says it will appeal in Former Congressman John Katko says it should go to the top. It's got to go to Supreme Court. Several states and now I had this ruined. So the Supreme Court's going to set the parameters of what we do with situationally like this going forward. So the US Supreme Court should have a number of cases now from which to choose on the issue. At Baxter Bloomberg Radio, All right, ed, Thanks, And ahead of yesterday's decision, presidential campaign blasted main Secretary of State Shenna Bellows, colloring her hyperpartisan and a virulent leftist. Trump's campaign says it will quickly seek to appeal her decision in Maine State court, and turning down to geopolitical news, half of containerships which regularly use the Suez Canal are avoiding the route and the recent attacks by the houthy militants of the Red Sea. Data compiled by Flexport shows two hundred and ninety nine container ships have either changed course or planned to That accounts for eighteen percent of global trade. Mercury Resources CEO Anton Posner says many major firms want to know more about the US response to the attacks. We're seeing increased freight, increased insurance, a lot of uncertainty, and mixed signals from shipowners, container lines, and from governments on what's happening. To basically mitigate the risk and the threats that are out there, phonesium in the ardent groups. Mercury Resources CEO Anton Post nurses some companies are your puting off decisions until the new year, as at tax continue. The US says it's speaking with shipping firms in an attempt to ease the concerns, and Johnny also continued to follow developments in Ukraine, Russia launching deadly strikes on civilian targets in Ukrainian cities overnight. It came days after Russia reported one of its ships in Crimea was damaged by Ukrainian missile strike, with Kiev stepping up attacks against Moscow's navy, and as we enter the new year, Ukraine's pleating with foreign donors to send aid a mid uncertainty over its twenty twenty four budget and turning down to the markets and the final day of the twenty twenty three rally with the investors anticipating FED rate cuts in the new year. The S and P five hundred cap yesterday's session just a few points away from its all time high. This year, the S and P five hundred is up almost twenty five percent, with the MSCI All Country World Index rallying about twenty percent. Mona Mahajan, the senior investment strategist with Edward Jones, says the rallies broadened over the final bonds of twenty twenty three year really driven by that magnificent seven a large cap technology trade, and over the last few weeks we have seen a broadening of participation, whether it's value cyclical parts of the market, whether it's small and MidCap parts of market, whether it's bond markets, all of which have played some catch up in recent weeks. Mana mahajin with m Where Jones says signs of cooling inflation and anticipation of a FED pivot continued to drive the rally forward and oversus this morning, John European stocks eking out one last gain on the final trading day of the year, but it's not all good news specifically in the UK, and Bloomberg. Stephen Carroll joins us with more from London. Good morning, Stephen, Good morning, Karen and John. Inflation has slowed sharply in the UK in recent months, but consumers are increasingly worried about the year ahead. A KPMG survey shows four and ten people are more concerned about their financial security now than they were a year ago, while data from Barcleycard indicates households are cutting back on things like clothing and eating out. All of that raising fears of a consumer that could tip the economy into session. When relative bright spot the latest house price data from nationwide showing prices fell less than two percent in twenty twenty three, defying expectations of a sharper downturn in London, Stephen Carol Bloomberg Radio, thanks Steven and In a banner year for stocks, the Nasdaq scept for its best year since nineteen ninety nine after his seven trillion dollar search artificial intelligence mania driving the run for the tech heav engauge from Nvidia to Microsoft, the seven largest US tech stocks, the Magnificent Seven, were responsible for sixty four percent of the nanstac rally this year. The index is up over fifty percent in twenty twenty three. And speaking of Nvidia, John the chip making giant is selling a hobbled version of a gaming chip to its Chinese customers. Bloomberg Tech reporter Ian King says the move comes after the US government tightened restrictions on what the company can market there. Really what matters is what happens in the AI accelerator market, and Video said it's going to have new tips for that business for China to meet these new rules. We don't know when that's coming, orisindeed if that will actually come, and that will have a much more concrete impact on revenue and bloombergsing and King says, this version of Nvidia's chip for China's market has about ten percent fewer processing cores than what it sells in other countries and elon Musk acts formally, Twitter lost its effor in court to block at California loss seeking to control toxic posts. More from Bloomberg's Charlie Pellett. In an eight page ruling of federal judge in Sacramento rejected arguments by the company formerly known as Twitter that the measure violates the free speech rights of social media platforms. The ruling comes after Musk ignited a firestorm in November by endorsing anti Semitic posts on his platform. X Corps CEOs scrambled to contain the fallout after major advertisers like Sony, Discovery, Apple, and CBS stopped or paused spending on the site. In New York, Charlie Pellett bloom Radio, it is time now for a look at some of the other stories making news around the world and for that were joined by Bloomberg's Amy Morris, Amy, Good Morning, Good morning, Karen. The Biden administration is warning Texas about its new immigration law to deal with illegal migration, Bloomberg's Nancy Lyons reports in a letter. The Justice Department reportedly says it will file a lawsuit against Texas if it implements the law that would empower state and local law enforcement officials to arrest, jail, and prosecute migrants suspected of entering the US ilegally. CBS News reports the DOJ says the law would basically criminalize actions that are already illegal at the federal level, and would undermine relations with Mexico and prevent officials from enforcing federal immigration laws. The measure is already being challenged by the American Civil Liberties Union that argues the law is unconstitutional. In Washington, Nancy lyons Bloomberg Radio, more US sailors and marines are being moved into the Eastern Mediterranean. CBS for reporting the two amphibious ships carrying fifteen hundred sailors and marines, along with jet fighters, helicopters, and armored vehicles, have transited the Suez Canal from the Red Sea into the Eastern Mediterranean. This gives the US military more ability to evacuate Americans from Lebanon if necessary. Israeli officials have been increasingly vocal with their threats to clear out a buffer zone in southern Lebanon if Hesbella's shelling of northern Israel doesn't stop. President Biden meanwhile says he's devastated to learn another American was killed by AMAS. American Judy Weinstein Hagai, was killed in the October seventh Hamas incursion. Biden vowed to do everything possible to bring home the remaining hostages, including IDF soldier Aiden Alexander from New Jersey. Alexander's mother is calling for her son's return. He's my boy, and every day, every minute of the day, I'm just I'm terrified. There are now six Americans presumed captive in Gaza, and the World Health Organization says it's getting harder to deliver medical supplies and fuel to Gaza because hungry people keep stopping the convoys searching for food. Gaza's health ministry also says dozens of people were killed in strikes across the Gaza Strip yesterday, days after Israeli forces said they'd be expanding operations. The Washington Post reports the director of one hospital says Sunday's attack killed at least eighty people. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now I'm Amy Morris, and this is Bloomberg Karen. All right, Amy, thanks. We bring you news throughout the day right here on Bloomberg Radio. But now, as Amy's said, you can get the latest news on demand, and that means whenever you wanted, just subscribe to Bloomberg News Now to get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's Dan Schwartzman. Dan, good morning, Good morning Karen. The Cleveland Browns clinched just their second trip to the playoffs since two thousand and two with a dominating performance against the New York Jets. Joe Flacco got hit. He rolls out of the head, he runs it, then he crows it and fort caught it head, the thirty head, the twenty head, the fifteen head, the ten head of five past no good head. He vaulted for tag jing board Hot you. That's courtesy of ESPN eight to fifty Radio in Cleveland, behind three hundred and nine passing yards and three touchdowns from Joe Flacco. The Browns improved eleven and five on the season with a thirty seven to twenty win over the Jets. Jerome Ford catching two touchdown passes while David and Joe who gains one hundred and thirty four yards on six catches. Jets fall to six and ten on the season. Week seventeen of the NFL season continuing Saturday with the Marquee matchup in Dallas as the ten and five Cowboys are hosting the eleven and four Detroit Lions. Speaking of Detroit, the Pistons were oh so close to ending their twenty seven game losing streak as they led the Boston Celtics by nineteen points at halftime and at one point by twenty one points before collapsing and losing in overtime one twenty eight to one twenty two. By dropping their twenty eighth consecutive game, the Pistons time the Philadelphia seventy six ers for the longest losing streak of all time, which Philly accomplished between the end of the twenty fourteen twenty fifteen season and the start of the next year. Elsewhere, Nikola Jokich turning in a perfect triple double, not missing from the field or the free throw line in the Nuggets one forty two to one to five, winner of the Grizzlies. That's your Bloomberg Sports update on the ent shportsman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak and good morning. I'm John Tuckery. You did hear. Among our top stories mains Secretary of State rule that Donald Trump cannot run in the state's Republican primaries, citing his efforts to overturn the twenty twenty election results. Let's take a deeper dive into the story this morning. We're joined now by Terry Haynes of Pangea Policy. Always a pleasure to speak to you, Terry. Certainly it's not going to be the last word, and it sets up for what one observer calls an epic constitutional showdown. What is your view? My view, firstly is discount anytime anybody says things like epic. But secondly, John, I think what you have to understand is what listeners have to understand is a little bit of perspective here Colorado. This Colorado Supreme Court, by a four to three decision, made its determination, but its Secretary of State has already said that Trump's going to be on the primary ballot, you know, abbs in some sort of additional action. So if that doesn't confuse things enough. Secondly, what you've got from the main Secretary of State yesterday is kind of an executative version of what the Colorado Supreme Court said, deciding on our own that trum Trump was an insurrectionist, but also understanding that the thing is going to be appealed. Net I wouldn't look for any of these things to stick. The Supreme Court of the United States is almost certainly not going to allow states to decide how to interpret the fourteenth Amendment of the Constitution, or alone denied candidate to federal rights under the Fifth Amendment. So, you know, generally speaking, I think these things are overblown. And the last thing I will say is there's a lot of state and federal courts that have decided in ways opposite of the Colorado and main courts. People need to remember that too. Donald Trump initially ran as a disruptor, and now he seems to be running as a victim. Does this all embolden him or does it give rise to some something along the lines of Trump fatigue. You know, that's a very good question, and I think the answer probably is some of both. The conventional wisdom right now is that this emboldens and empowers him with the electorate. You can certainly see how that might be so instinctively. But at the same time, it also I think adds to the appeal of not Trump Republican candidates who say, look, if you like the conservative policies and have them during Trump's administration, we can have those back, and we can have them without the circus. We're going to find out which of those is true, or potentially whether both of them are true, starting in about three weeks in Iowa, and so you know, we will see. But the attains me not to make a call on that, but I mean, truly we will see. I'm not going to be the expert on the feelings of the Iowa electorate, but the bottom line is is that I underperformed in the Iowa caucuses is going to give rise to a narrative that Trump, it might not be as strong, and the challengers are getting stronger, and that will reinvigorate the race at it to some extent. All right, speaking of challengers, Nikki Haley also making news with what she says or doesn't say, are the causes of the Civil War, namely slavery. How does that play out in the election cycle. I think that's a blip, honestly, John. It's used by and I'm not meaning to to minimize, No, I mean to minimize what she said or how she said it. But I think it's a blip. You know, she did what she needed to do, which was she was trying to make a trying to use a kind of states rights versus federal point about the war to make a case about the tensions that exist today. It was ham fisted, and she took it back, she clarified, and I think that that goes away pretty quickly. Honestly, this is kind of out of left field. Is Joe Biden going to stick with Vice President Kamala Harris as his running mate? Oh? I think so. Yeah. The Biden sees Harris whole including faults, but he would have a devil of a time taking taking her off the ticket at this point, and for that reason alone, I think he won't give us your view of how the election is all playing out. I will refer listeners right back to a very interesting Bloomberg story on the terminal about a Quinnipiac poll that was released on Wednesday that shows Biden and Trump basically the dead heat and the popular poll, but if you add Bob Kennedy to it, it becomes a thirty eight Biden thirty six Trump Kennedy twenty two race. And I point that out only to say that I've been saying for some time that third parties are going to be more invigorated and more important to this presidential race. You're listening to Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one o six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XMVI iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg or Daybreak

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Global Bond ‘Carnival’ Sets Stage for Record Two Months; Apple SmartWatch Time

Thu, 28 Dec 2023 10:32:33 +0000

On today's podcast:

1) The world’s debt market is on track to post its biggest two-month gain on record as traders ramp up expectations that central banks everywhere will slash interest rates next year.

2) Apple Inc. said it would put its latest smartwatch models back on sale in its US retail stores Wednesday after it won a court ruling in a patent fight, providing a quick reprieve for its $17 billion business.

3) One of Cathie Wood’s exchange-traded funds has executed a massive shake-up in its Bitcoin-related holdings as the cryptocurrency rounds out a blockbuster year.

Full transcript:

Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today, the massive year and rally in bonds. In fact, the world's debt market on track to post its biggest two month gain on record. Bloomberg's Cretigoda has more other reasons behind the move. It's a complete when eighty in the markets. As investors around the world become more and more confident that inflation is actually in the rare view mirror, it's creating a massive bet in the bond market that is really unseen historically. The momentum that you're seeing in just the last two months has really created this idea that maybe you might see rates go even lower in twenty twenty four, not just from the Federal Reserve, but from market participants as well. Swaps, the measure through which traders make bets on the Federal Reserve and other central banks around the world, well, they're pricing about one hundred and fifty basis points of rate cuts right here in the United States and the UK next year. It's almost one hundred and seventy five basis points in the Eurozone. As investor confidence bills, the central banks have done their job, RIGHTO brigs Quitty Goop, who says the Bloomberg Global Aggregate Total return indexes risen nearly ten percent over November and December. Well, we turned to equities now, John, and European stocks are hovering near a two year high after the rally seen across Wall Street in Asian markets, and we go to London and get the latest with daybreak, europe banker Stephen Carroll, Stephen, thanks, Karen and John. European markets started out the day with gains, but that positive sentiment has petered out for now. The stock six hundred has dipped into the red, along with the benchmarks in London, Paris and Frankfurt. Energy among the worst performing sectors, Oil majors falling as crude prices retreat. Now, trading volumes across Europe are less than half their thirty day average, but the European benchmark is up almost thirteen percent this year, and it's still hovering at its highest level since January twenty twenty two. In London, Stephen Carrol Bloomberg Radio, all right, thanks Steven. Oil retreating from a one month high. Traders say key technical gauges their flashing weakness amid thin holiday trading, supply risk posed by Yemen based hoothy rebels haven't abated, even as incidents in the Red Seas start to slow down. The shipping giant hapag Lloyd says it will keep its vessels away from the Red Sea, despite the launch of a US led task force to protect the key trade route. Sylvia Westall is Bloomberg's managing editor in the Middle East. This idea of having a protection for shipping in this region, it actually already exists, as actually already forces based there. So I think some of the companies are a bit confused as to what it will really entail. Bloomberg's managing editor, Sylvia Westall says spot rates for a container shipping have jumped twenty six percent over the past four weeks. As we check Brent Crue, the international benchmark, it is down thirty one cents at seventy nine thirty four a barrel, and John Bitcoin is about forty three thousand dollars. It's been quite a run for the cryptocurrency we get more with the Bloomberg's Eddie Vanderwald prices went up from about sixteen thousand in the end of last year to more than forty three thousand at the moment. That's a rally of one hundred sixty percent, which you know, in bitcoin land is not uncommon. We do see these big up moves, but usually that is you know, associated with a lot of excitement and a lot of media attention and so on. We haven't seen that this year. What we are seeing though, is as the expectation of lower rates in the US and elsewhere probably comes to fruition. Next year, money becomes cheaper and there's more speculative money around, and some of that can flow into into assets like bitcoin, and Bloombergy Eddy Vanderwald says optimism over our possible sec approved bitcoin ETF is also helping fuel gains. Meanwhile, Caaren Well Kathy Woods Exchange Traded Funds has executed a massive shakeup in its bitcoin related holdings. More from Bloomberg's Jeff Bellinger. The Arc Next Generation Internet ETF sold all of its remaining shares of the Grayscale Bitcoin Trust, according to data compiled by Bloomberg, and on the same day, our investment management data show that it bought more than four point three million shares of pro Shares Bitcoin Strategy ETF, making it the fund's second biggest holder. Wood has been trimming her holdings in the Grayscale Bitcoin Trust in recent months, even as bitcoin rose to its highest levels since April of twenty twenty two. Jeff Bellinger Bloomberg Radio, All right, Jeff, thanks well. Apple putting its latest smart watch models back on sale and its US retail stores a's after it went accord ruling pausing a US sales ban on its newest models. Mark German covers Apple for Bloomberg in California and sin So, what happens now the Apple stores in the US did, about two hundred and seventy of them began resuming sales of the Series nine and Ultra TiO that are at the very center of this patent dispute with Massoow Thursday about noon Pacific time, the Apple Watch Ultra TiO in series line will return to the online stores. You could buy the model that you'd like from their online store and then staring on Saturday, all Apple stores in the US nationwide will begin car the alteratt series sign again, and Bloomberg's Mark German says the ruling now buys the company sometime and it's ongoing patent dispute with medical device maker Massimo. In geopolitical news, the Biden administration that is announced to another aid package for Ukraine. Bloomberg's Baxter has the story. It is two hundred and fifty million dollars in weapons and equipment and the final package of the year. It's drawn from Pentagon stocks, including ammunition for artillery and air defense systems, as well as anti armor munitions and more than fifteen million rounds of small arms ammunition. The DoD as well says that Javelin anti tank systems and Stinger Ata aircraft missiles will be offered. Secretary of State Anthony Blinken, in a statement, said it is imperative the Congress act swiftly to advance our the US national security interests by helping Ukraine defend itself. Ed Baxter Bloomberg Radio. All right, John, thanks time now for a look at some of the other stories making new around the world. And from that we're joined by Bloomberg's Amy Morris Samy. Good morning, Good morning, Karen. A coalition of mayors is asking the federal government to provide more support to manage the influx of migrants arriving by bus or plane from Texas. Mayors from New York City, Denver, and Chicago all say they need help as Texas Governor Greg Abbott sends more migrants to Democratic led cities. Chicago Mayor Brandon Johnson all of our cities have reached a point where we are either close to capacity or nearly out of room. Without significant intervention from the federal government, this mission will not be sustained. In addition, New York City Mayor Eric Adams has issued an executive order which requires thirty two hours notice from charter bus companies transporting migrants to the city. President Biden is justifying US attacks on targets in Iraq. Bloomberg's Nancy Lyons reports. In a letter to congressional leaders, President Biden says that Christmas Day attacks on three installations linked to an Iran backed insurgent group were necessary to prevent further attacks on US military personnel. Biden writes that the strikes were intended to quote degrade, and disrupt attacks on the US and its partners, and to deter Tehran's proxy forces from conducting further attacks. The US and its allies are trying to keep the Israel Hamas conflict from escalating into a broader war. In Washington, Nancy lyons Bloomberg Radio residential candidate Nikki Haley is refusing to say that slavery led to the Civil War. During a New Hampshire town hall yesterday, a voter asked Haley what was the cause of the Civil War, and the former South Carolina governor and ambassador to the UN gave a lengthy response about the role of government and the rights of the people, but she never mentioned slavery. What do you want me to say about slavery? I love, argued my question. Next question, the voter who asked the questions that he found it astonishing slavery wasn't even mentioned. US Representative Lauren Bobert says she's changing districts in Colorado. It's the right move for me personally, and it's the right decision for those who support our conservative movements. Alberta Republican announced on Facebook she'll move to the fourth congressional district, trying for the seat vacated by Ken Buck, who won't be seeking reelection. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm Ami Morris. This is Bloomberg Karen right Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand, and that means whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines at a click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's Dan Schwartzman. Dan, Good morning, Karen Stunner in Denver. As the Broncos have decided that nine time Pro Bowl quarterback Russell Wilson will be benched starting a Sunday's game against the LA Chargers, Jared Stidham will get the start. Head coach Sean Payton says it's all about getting a spark on offense, rather than get into the specifics, because I think that would be unfair today. It's more about what we're We weren't doing effectively enough offensively, and you know, when we were getting two or three turnovers. It's one thing, but you know. Ultimately our job is to get the ball in the end zone, and we've got to be more efficient doing that, all of us. That's Curtisyebroncos dot Com. Wilson starts the first year of a five year, two hundred and forty two point six million dollar extension next year at thirty nine million bit guaranteed for twenty twenty four. If Wilson can't pass a physical in early March, thirty seven million more will be guaranteed. Week seventeen of the NFL season gets under way, the Jets on the road in Cleveland facing the Browns. Cleveland is ten and five, Jets come in at six and nine. Trevor Simeon gets a star for New York Joe Flaco. He is a quarterback for the Browns. The finalist for the Pro Football Hall of Fame class at twenty twenty four half in announced. First time candidates include Julius Peppers and Antonio Gates. In the NBA, the Philadelphia seventy six ers remain hot. They knock off the Magic in Orlando one twelve to ninety two. Meanwhile, Milwaukee a big one forty four to one twenty two win over the Brooklyn Netsianna Santa Tocompo thirty two points, ten rebounds and eight assists. That's your Bloomberg Sports Update. I'm Dan Schwartzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias, exam, the Bloomberg Business app and Bloomberg dot Com. This is Bloomberg day Break, and I'm John Tucker. Good morning. The world's bomb market on track to post its biggest two month game on record. Meantime, SMP five hundred flirting with a record. Let's get you set up for the trading day ahead. We're joined now by Tim Craighead Bloomberg Intelligence Senior equities strategists. Hey, equities guy, Let's start off with Yeah, the debt market. Investors seem convinced central banks have won their battle against inflation. What could possibly go wrong? Tim, Well, I'll tell you it's very apropos to start off with a bond market if you're talking talking about stocks, because that's what striving stocks right now. There is no doubt about it. To the degree that we've seen, whether it's US, whether it's Europe, around the globe, a big rally since late October he had equities. It's all about bond markets. And if you look at expectations of central bank policy and use the FED as the bell weather, we've gone from expecting no rate cuts over the course of the next six to twelve months to where now you're looking at fifty basis points in six months and one hundred basis points in a year. And this is the issue. John. If this doesn't play through, if we have a change in reference for some inflation spike or something along those lines over the course in the next month or two, then this run we've had into year end across all asset classes is due for one of these abrupt, volatile changes like we saw a couple of times in twenty twenty three. That's the risk. Hey, looking back on history, how unusual is it to see bonds and equities rally at the same time and what does that indicate. It is interesting in that if you look whether it's in the post pandemic period where you can really dig into this microscopically over or longer term, quite often you do see one versus the other. And it's the same in the equities market, where you see either earnings driving equities, or you see valuation driving equities, and you know the corollary there is valuations quite often in stocks are driven by what's transpiring and interest rates. And you know the point that you're making here, it is unusual. We've seen stocks and bonds rip over the course of the past two months, and granted we're from a depressed level where you remember back into the depths of the cell off in October, it was all about uh longer for a higher for longer from a from a policy rate standpoint, and then all of a sudden we started seeing better inflation prints and that whole psychology changed, which allowed the run up in bonds, which allowed the run up and valuation. You look at the pe on either US or European markets and they've they've ramped up a couple of points. That's a big move, and it's all because of the change in bonds. So I think you can find narrow points of time like this where you see a big swing and interest rates that does have an immediate impact in the equities market. And it's all about the valuation connection, all right, specific to equities, what right now is the bar for earnings moving forward? It's a pretty low barrow, I would imagine in the US. Yeah, and I think you're right, and it is a difference between the US and the European markets. From a US perspective, we had an earnings recession through late twenty two into first half of twenty three, and we've started to see positive revisions coming over the last six months as we went through the mid year earning season into the third quarter reporting season, and estimates are still ticking up in the US. If you look over here where I'm at in London and Europe, we actually had much better earnings performance over the course of twenty two into the first half of twenty three. You'd be surprised. If you look to the chart on forward earnings expectations for Europe versus the US. Europe far outperformed over the course of the last eighteen months, but the last three months it started to change. We've had negative estimate revisions here in Europe and that's likely to continue into the next year. We think that's a big risk factor for the first half of the year where we are seeing a tick up in the US, and a lot of that's because of the TMT space, which was really the cause of the earnings, recession in the US starting to actually come alive, and we don't have that crutch. Here. You're listening to Bloomberg Daybreak today, your morning brief. The story is making news from Wall Street to watch Hington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one O six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XM, thee iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak. He

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Stocks Near All-Time High; Tech Heavyweights Team Up on AI

Wed, 27 Dec 2023 10:31:36 +0000

On today's podcast:

1) US futures were steady, with an all-time high this year firmly in sight, and Treasuries gained amid optimism that the Federal Reserve is getting close to cutting interest rates.

2) Legendary designer Jony Ive and OpenAI’s Sam Altman are enlisting an Apple Inc. veteran to work on a new artificial intelligence hardware project, aiming to create devices with the latest capabilities.

3) US strikes on targets in Iraq and fresh attacks by Houthi militants on shipping in the Red Sea provided the latest warning signs that the war in Gaza risks expanding into a wider conflict destabilizing the Middle East.

Full Transcript:

Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. In the markets, the S and P five hundred beginning to day hovering at a record The so called Santa Claus rally has left the index just half a percent off its all time high. Despite warnings about overpot levels, equities continue to power ahead on best. The Fed's going to cut rates as early as March, and Bloomberg's executive editor for Markets Paul Dobson says, there seems to be a lot of momentum in the markets. It may be in anticipation of big New year flows into equity funds and people trying to get a little bit ahead of that. As part of the explanation, I think, you know, we're getting very close to that record high in the SMP, and the market loves the target to chase. Bloomberg's Paul Dobson says if the S and P five hundred completes a ninth straight week of gains, it will be its longest winning streak since two thousand and four. Well in Company News, john Tesla could soon lose its title as the world's leader in electric vehicles. The Chinese automaker BYD's sales or forecast to overtake Tesla this quarter. Katrina Nicholas is Global Business editor for Bloomberg in Asia. BYD makes its own batteries and now it also makes its own chips. That has shielded the company from a lot of supply chain crunches over the years. Remember back in twenty twenty during COVID, we had a worldwide shortage of semiconductors and that snarled a lot of automakers. They couldn't get the chips that they needed to make the cous and Bloomberg Global Business Editor Katrina Nicholas as BYD offers half a dozen higher volume models that costs much less than what Tesla charges for its cheapest Model three sedan in China. Meanwhile, Tesla preparing to roll out a revamped version of its Model Y from its Shanghai plant. Bloomberg News has learned the electric carmaker currently conducting preparation work in China, and mass production may start as soon as mid twenty twenty four. Sources say the new Model Why will have much more obvious exterior and interior changes than the most recent update in October, which anadled a new wheel design and ambient lighting. Well John another high tech company in the spotlight this morning, Apple is appealing a US salesman of its smart watches after the White House refuse to overturn the measure. The company is trying to defend a business that generates roughly seventeen billion dollars a year. Mark German covers Apple for Bloomberg in Los Angeles. Apple's belief is they have a software update up at sleeves that will bring the Apple Watch in compliance with the ITC. And so what Apple has done is they submitted details of this software upgrade to the US Customs Agency and on January twelve, the US Customs Agency will make a decision whether or not to approve the refresh to the watch to make them fix. If they go ahead and approve that and the ITC and other entities and the US agree, the Apple Watch can come back to market and Bloomber's Mark German says the US International Trade Commission determined in October that Apple violated two Massimo health technology patents with a blood oxygen sensor in its watches, and Karen saying in the tech sector, a couple of heavyweights joining forces on the artificial intelligence That's good. Details this morning from Bloomberg's Jeff Bellinger. Legendary designer Johnny Ive and open ai Sam Altman are enlisting a veteran to work on a new artificial intelligence hardware project. Sources say that as part of the effort, outgoing Apple executive Tang Tan will join IVES design firm love From, which will shape the look and capabilities of the new products. Altman, an executive who has become the face of modern AI, plans to provide the software underpinnings. The work marks one of the most ambitious efforts undertaken by IVES since he left Apple in twenty nineteen. The designer is famous for the products he helped devise under Apple co founder Steve Jobs, including the iMac iPhone and the iPad. His hope is to turn the AI device work into a new company, but sources say development of the product's remains at an early stage. Jeff Bellinger, Bloomberg Radio. All right, Jeff, thanks, Now we turn to the latest developments in the Middle East. US strikes on targets in Iraq and fresh attacks by hu They militants in the Red Sea, providing the latest warning signs that the war in Gaza risks expanding into a wider conflict of stabilizing the region. Ras Madison is news director for Europe, the Middle East and Africa for a Bloomberg News. You've got all these groups operating in the region, supported by Iran, who are carrying out sort of unilateral attacks on targets throughout the region, including these shippers, and of course Iran sort of warning increasingly that this does increase the risk that they get drawn in. It also increases the risk that the US militarily gets drawn in because of course they're having to shoot down a bunch of this stuff as it's flying around the region targeting this shipping. And we're talking about a coalition of military ships in the region potentially to escort some of this commercial shipping through, and so all of that adds to environment of high tension in Bloomberg's ras Madison says. Benjamin Netanyahu says Israel will expand it's Garza ground defensive in the coming days, despite international efforts to halt the fighting and back here at home care on. Thousands of migrants and asylum seekers are moving north toward the American border. As tom US officials prepared to meet with Mexico's president. That story this morning from Bloomberg's and Baxter. The caravan has reached Chiapas, Mexico, thousands carrying signs that say exodus from poverty. The caravan hopes to reach the border as Secretary of State Anthony Blincoln and Homeland Security Chief Alejandro Majorcas meet with Mexican President Andres Manuel Lopez Odador. The State Department says item one is quote unprecedented irregular migration in the Western hemisphere. Now, the US says the parties need to address border security challenges and identify ways for Mexico to help in the fight. Some of the caravan have traveled from as far away as South America. At Baxter Bloomberg Radio. All right, thanks Karen, and that brings us to five oh seven Time down for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning John. Several pro Palestinian protesters were arrested after swarming Rockefeller Center, Grand Central and other areas of the long holiday weekend. Police arrested at least a half dozen people for disorderly conduct menacing at graffiti now In New York City, Mayor Eric Adams says there's always a serious concern about safety in Time Square. On New Year's Eve, he says there's an added concern protesters will disrupt more celebrations after pro Palestinian supporters tried to spoil the Rockefeller Center Christmas tree lighting over this past year. The police department did an amazing job doing the tree lighting to mitigate any form of major disruptions, and they're going to do it this year. Adam says NYPD will monitor online chatter. Top Biden administration officials are in Mexico today to discuss the influx of migrants. More on this from Bloomberg's Nancy Lyons. US Secretary of State Anthony Blincoln in Secretary of Homeland Security Alejandre Mayorcis will meet with Mexican President andres Manuel Lopez Obrador to address the ongoing border security challenges and what each country can do to alleviate the problem. B Lincoln's office notes the migration across the southern border has been unprecedented. B Lincoln is expected to focus on creating legal pathways into the US as well as additional enforcement in Washington. Nancy lyons Bloomberg Radio Now, one of Mayor Adam's main focuses next year will be trying to get the federal help on the migrant crisis. I have to keep hammering away at this issue, and I'm really pleased that we are now in the chorus of other cities that are joining us. There are currently sixty eight thousand asylum seekers in New York City's care right now. And a new program would allow New York City to direct money to new construction after a tax incentive favorable to developers lapsed last year. The New York Times reports the plan would direct public money toward mixed income housing projects in wealthier neighborhoods. The hope is that developers will produce more affordable units using the income from those high rent market rate apartments. The Global News twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm maybe Morrison. This is Bloomberg John. All right, thanks Amy, and that brings us to five ten on Wall Street. Time down for the Bloomberg Sports Update. And for that, here's Dan Schwarzman. Good Morning John. Week seventeen of The NFL season kicks off tomorrow in Cleveland as the Browns are hosting the Jets. Cleveland is ten and five, Jets coming at six and nine. Jets head coach Robert Salad talking about how the Jets can take some inspiration from Cleveland season. They're doing a really nice job. Defensively, they're playing at an eightee level, very similar. Special teams are doing very well. But for sure, we'll definitely look at some things in areas where we can be better, so in the event this happens again, we can keep the vote above water and just kind of replicate what they're doing. That's courtesy of Jets dot Com. Trevor Simeons starting at quarterback for the Jets. Joe Flacco for the Browns. GA in the NBA to Detroit Pistons, setting a record for most consecutive losses in a single season in league history as they dropped their twenty seventh in a row, losing to the Brooklyn Nets won eighteen to one twelve, Cameron Johnson leading the Nets with twenty four points. Elsewhere in the league, futility in Washington as the Wizards are five and twenty four, losing to the Magic one twenty seven to one nineteen, while the Spurs are only four and twenty five after a one thirty one to eighteen home loss to the Jazz. The Nets added again tonight as their home for the Milwaukee Bucks, while the Knicks are on the road facing the thunder in Oklahoma City. The three day NHL Christmas Holiday is over most of the league in action tonight. The Rangers home for the Washington Capitals. Devil's welcoming in the Columbus Blue Jackets. It's the Boston Bruins on the road of the Buffalo Sabers, while the Islanders are home for the Pittsburgh Penguins. That's your Bloomberg Sports update on Dan Schwartzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm John Tucker. We are looking at the risk of a wider Admit East war. This morning. Fresh attacks by Houthi rebels shipping in the Red Sea provided the latest warning signs. Let's get the update this morning, and I'm happy to say. We're joined by Bloomberg's Rob Mathieson, the news director for Europe, the Middle East and Africa. Ro's nice to talk to you again. It's not anything new attacks in this region. What is different this time? Well, that's right. The attacks and themselves are not that new. They have been a patent for many years now in this sort of narrow area of water in the Red Sea. And of course the Houthies who are based in Yemen but bat by Iran sort of quite often targeting shipping in the area, but again sort of harrying them more than sort of causing serious damage. But what we're seeing is an escalation in that pattern of attacks in the backdrop of the war between Israel and Hamas in Gaza. And we're also seeing it come against the backdrop of those other attacks that are going on, strikes against US forces who are based in Iraq, retaliatory strikes against groups that are operating in Iraq, all of those groups in the end sort of seemingly linking back to Iran, which says it's not trying to disrupt commercial shipping in the area, but neither is it seemingly raining in these groups that it supports and so all of that comes at a moment of high tension in the region. You've got significant military forces operating. The US Navy is in the area, other countries sending naval ships to try and support shipping that's passing through, and so the possibility of sort of a broader conflict does exist as a result, although so far we haven't seen that happen, and Iran has sort of urged some restraint itself. In a climate where you just have shipping in such close proximity, the possibility of a broader conflict cannot be ruled out. Is this going to draw in other actors at this point, Well, there are multiple actors on this sort of the Iran supported side already involved in different ways. Obviously in the conflict itself with Israel. You've got Hesblah still lobbying things from the across the Lebanon border. You've got the Huthi's operating out of Yemen. You've got groups operating out of Iraq, so they've got quite a few proxies at the moment for Iran operating in the region. On the other side, you've got the US Navy quite actively trying to support shipping shooting down drones and other rockets as they're firing through the air from Yemen. You've got other countries sort of saying they want to send their ships to support, and this talk this plan for sort of a naval support task force that's going to support shipping and deter further strikes in the region. You've got India talking about sending warships. So again, you've just got an awful lot of actors involved, none of whom who want really to end up in an outright conflict. But again, with so much shipping in close proximity, be it commercial shipping and naval shipping, the possibility of an accident even cannot be ruled out. Yeah, is it likely that the US would be forced to act even more assertively in this region, Well, they're very much not wanting to unless they have to, particularly again when it comes to Yemen. The US has been working hard in recent years to extricate itself from Yemen and of course urging the Saudi Arabians to also de escalate there, and not something that the US President Joe Biden wants to get particularly directly involved in again and certainly doesn't want to get involved in a one on one conflict that involves Ran and so it does exist as a possibility. The US very much doesn't want to end up with boots on the ground in another conflict. They've become very risk averse about that if you see prior history involving places like Afghanistan for example, they don't want to do that. But again, more and more they are engaging directly in support of shipping in the region and shooting down stuff that might be even flying towards Israel from Yemen for example. So at some point it doesn't become a bit moot. Are they sort of involved militarily yes? Are they directly military involved? They would say no, and they don't want to be Whether or not this is your expertise, I don't know. But in terms of the impact on commodities, especially oil for instance, is it kind of surprising we haven't seen a bigger jump in commodity prices as a result of these attacks. Well, we are seeing oil at least being supported as a result of this. You've got brand near eighty one dollars a barrel, it's about the highest level in almost a month. You're also seeing gas prices rise in a way that the commodity that may react more to this is gas because of concerns around restrictions on supply in the region if Iran really got involved in a conflict, and so the immediate concern maybe less about oil and how much needs to be shipped through that region or how much oil can come from Iran, but really the concern is about a possible impact on gas. We saw some gas fields in fact out of operation in the early days of this conflict between Israel and her mask that was out of an abundance of caution, and they have now resumed operation. But really the commodity that may react the most of this is gas, and that's one that we're watching closely. Today. You're listening to Bloomberg Daybreak. Today you're warning brief the story is making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in the New York, Bloomberg ninety nine one in Washington, Bloomberg one oh six one in Boston. And Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious xmvie iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg Daybreak

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Fears of Spillover in Israel-Hamas War; Trumps Claims Absolute Immunity

Tue, 26 Dec 2023 10:33:51 +0000

On today's podcast:

1) The US military launched strikes on three installations in Iraq targeting what it said is a terrorist group backed by Iran that Washington has accused of a series of attacks on American personnel, including one Monday which left three people injured.

2) Israeli Prime Minister Benjamin Netanyahu outlined three prerequisites to achieving peace in its war with Hamas: the destruction of the group, the demilitarization of Gaza and for Palestinian society to be “deradicalized.”

3) Former President Donald Trump told a federal appeals panel on Saturday that he should be granted immunity from prosecution with regard to his efforts to overturn the 2020 election because he was acting within the bounds of his official duties when he took the actions.

4) OpenAI is in early discussions to raise a fresh round of funding at a valuation at or above $100 billion, people with knowledge of the matter said, a deal that would cement the ChatGPT maker as one of the world’s most valuable startups.

Full Transcript:
Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. We begin with developments in the Mid East. The US military launched strikes on three installations in Iraq over the weekend, targeting what it says is a terrorist group backed by Iran. Washington's accusing the group of engaging in a series of attacks that injured American personnel. Late Monday, US Central Command released a statement saying the air strikes appeared to kill a number of Hensblah militants and Irans as a member of its armed forces was also killed. Meanwhile, Iran saying an Israeli airstrike in Syria killed a senior commander of its Revolutionary Guard, and Iran's president promising Israel will pay a price for the action. The Lebanese militant group HESBLA is calling the strike an assassination that crosses a line. Well in Israel, John pressure is growing on Prime Minister Benjamin Natanyahu to shift his nation's approach, and it's more with Hamas off and published in the Wall Street Journal Yesday, Natanya, Who's said, in order to achieve peace, Hamas must be destroyed. In Palestinian society must be deradicalized. It comes on the heels of the Biden administration continuing to back Israel's right to defend itself, but it's calling on Israel to scale back a large attacks and engage in more precise operations to reduce the toll on Palestinian civilians. Allies of Israel on Capitol Hill, like South Carolina Senator Lindsay Graham, says he blames civilian deaths on Hamas. Israel is trying to mitigate casualties. We need more humanitarian aid as long as it doesn't go on to the hand of the hands of a mosque. Republican Senator Lindsay Graham was speaking on ABC's This Week and the Hamas run Health Ministry says more than twenty thousand people have been killed in Gaza since the wars started in response to the October seventh terror attack in Israel, Atlanta Councils Senior Fellow Carmel abittells Bloomberg. The pressure is also growing on the Biden administration to encourage Israel to change its policy. The atrocities as we've seen them in Gaza are just agonizing, and with that public opinion in the United States and around the world is shifting, and pressure on Israel is growing to, if not entirely end the war through a permanency is fire, to at least pursue a temporary ceasefire, and to move to the next phase of this war. Carmiel Arvid with the Atlantic Council was speaking with our Kaylee Lines on Bloomberg's Balance of Power. You can hear the full analysis the Balance of Power podcast, available wherever you download your podcasts. Well back here in the US, john pressure continues to mount on universities following testimony from earlier this month in which the presidents of Harvard, MIT and the University of Pennsylvania struggle to respond to questioning about how calling for the genocide of Jews violates school policy. In the wake of calls for the resignation of Harvard's president, Claudine Gay, a growing number of faculty members are turning their focus to the other eleven members of the powerful governing board that runs a school. Some faculty are calling for members of the Harvard Corporation, the university's board, to resign or apologize. One professor even floated an idea to the Governor of Massachusetts a new school governance structure that would give lawmakers the chance to appoint a board member to represent the public interest. And we're also following Karen the geopolitical developments in Russia's war with Ukraine. Russia says a warship that an eastern Crimean port had been damaged in a Ukrainian missile strike, and Ukraine wasn't just engaging in naval attacks. The New York Times reported this weekend that the Ukrainian military claiming it shot down five Russian fighter jets in three days, one of the biggest weekly losses for the Russian air force since that war began. Man John The New York Times is also reporting Russia President Vladimir Putin could be thinking about a ceasefire. In a recent address to his generals, he said Ukraine was so belieaguered that Russia's invading troops were doing what we want quote an unquote, But behind the scenes, sources tell The Times Putin's signal through intermediary since at least September that he's open to a ceasefire that would freeze fighting along current lines. And turning to politics here in the States, former President Trump says he has absolute immunity having served as a former president. Trump telling a federal appeals panel that he should be granted immediately from prosecution with regard to his efforts to overturn the twenty twenty election because he was acting within the bounds of his official duties when he took the actions. The appeals panel has said it will hear the arguments. January eighth, Let's go to markets now. John wall Street's returning to a holiday shortened training week, and Bloomberg's Charlie Pellett joins us with a preview. After eight weeks of gains for the S and P five hundred index, there are questions as to whether the holiday chare will continue into twenty twenty four. Sarah Hunt is chief market strategist at Alpine Woods Capital Investments. I think that the biggest problems we're going to see next next year are going to be around whether or not earnings and growth can really increase to the extent that the market is expecting it to, because if it can't, we're priced really well. We had a lot of multiple expansion this year and not a lot of earnings growth. We're pricing that in for next year. There are no scheduled S and P five hundred earnings this week. Bank earnings with the likes of JP Morgan, Chase, City Group and Wells Fargo kickoff January twelfth in New York Charlie Bloomberg Radio, all right, thanks Charlie. In corporate news this morning, sources tell Bloomberg open Ais in early discussions to raise a fresh round of funding at evaluation at or above one hundred billion dollars, and Bloomberg's Dennis Pelagreeny joins US with that story. Sources say investors potentially involved in the fundraising round have already been included in preliminary discussions, and if the funding round happens is planned, the creator of chet GPT would be the second most valuable startup in the US, behind only Elon Musk's SpaceX. Sources also say open Ai has held discussions to raise funding for a new chip bench with Abu Dhabi based G forty two, and has discussed raising up to ten billion dollars for that. It's unclear whether the chips venture and the wider possible company funding efforts were now hearing about our related Denise Pelygrindy Bloomberg Radio. All right, Denise. Thanks. Elsewhere on the corporate front, the Sole Economic Dailies reporting Samsung has delayed mass production plans at its new hiplant in Texas. Sources tell the South Korea newspaper mass production would begin in twenty twenty five. Samsung previously said the factory would star production in the second half of twenty twenty four. Is another blow to the Biden administration's ambition to increase domestic semiconductor supplies. All right, thanks Karen, and 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 Scott car Scott. Good morning, Thanks John, Good morning. Following a weekend of reportedly intense fighting between Israel and Hamas, particularly in northern Gaza, where Israeli forced to say now they've largely taken control, Israeli Prime Minister Benjamin Netanyahoo paid a visit to IDF troops in the region Monday and estimated seventy people were said to have been killed and one Israeli strike in central Gaza. The Israeli military says fifteen of its troops lost their lives over the weekend. Federal officials are now calling for the opioid reversal drug nalaksoone to be stocked in all government buildings. Recently, the Department of Health and two Human Services has proposed all federal buildings should be stocked with the drug, alongside automated external defibrillators. It marks the first change in federal building safety guidelines in nearly fifteen years. The US now has new plans in place to target banks that facilitate payments for Russia's military industrial complex. Bloomberg's Amy Morris has more from Washington. President Biden is amending two executive orders that will for the first time, allow the US to impose so called secondary sanctions over the Ukraine War. US officials tell Bloomberg that means banks could face severe financial penalties for doing business with firms already sanctioned, whether they know it or not. While many international banks no longer do business directly with Russia, they can act as correspondent banks for financial institutions in third countries that still do. In Washington, Amymoor as Bloomberg Radio, a wearable AI device developed by former Apple employees, is set to ship in March it's called the Humane AI Pin, and for about seven hundred dollars you can attach it to your clothes and interact with it. Former Apple worker Imanchadris part of the team behind the creation of the new AI device. There are no wakewords, so it's not always listening or always recording. In fact, it doesn't do anything until you engage with it, and your engagement comes through your touch, voice, gesture, or the laser ink display. The pins projectors designed to be able to send information onto a user's hand. We were able to pack a law of technology into something really small. It runs a Qualcom snap Dragon chipset, and that means it's really fast, which is crucial for AI. A recent demo of the pin shows it doing everything from real time language translation to making calls and playing music, Global news twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm Scott Carr, and this is Bloomberg John. All right, Thanks God. That burns us to five eleven on Wall Street Time. Now offer the Bloomberg Sports Update PIM for that. Here's Dan Schwartzman. It was a Christmas Day tripleheader in the NFL and a Christmas miracle in Kansas City as Las Vegas Raiders knock off the Chiefs twenty to fourteen. Zameir White twenty two carries one hundred and forty five yards on the ground for Vegas. She's falled to nine and six on the season. Raiders are now seven and eight. Meanwhile, he was ugly in Philadelphia despite the Giants making it close to the second half, Swift makes the move zone Scott Eagles. That's courtesy of Fox Sports. Giants lose at Philly thirty three to twenty five, as Eagles are now eleven and four. Giants fault of five and ten on the season. Afterwards, head coach Brian Davill didn't have much to say, give them credit. Came down to the you know, to the end and just it's quite done to get the June that's courtesy off Giants dot Com. And in the finale, the Ravens now twelve and three, winners of five in a row. They dominate the forty nine Ers in San Francisco thirty three to nineteen as Brock Purty throws four interceptions for the forty nine Ers five games on the NBA docket, Nick surprise the Bucks in New York won twenty nine to one twenty two. Jalen Brunson thirty eight points, Nuggets knocking off the Warriors one twenty to one fourteen. Celtics a road went over the Lakers in Los Angeles one twenty six to one point fifteen. Christaps Porzingis twenty eight points, eleven rebounds, while the seventy six ers fall to the Heat in Miami won nineteen to one thirteen and Luka Doncic with fifty points for the Mavericks in a one twenty eight to one fourteen went on the road in Phoenix. That's your Bloomberg Sports update on Dan Schwartzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm John Tucker. As you just heard the US military launching Christmas Day strikes three installations in Iraq, targeting what it said is a terrorist group backed by Iran. Here to discuss that and what else is going on on the Mideast, joining us from Dubai this morning Bloomberg News Henry Meyer. Henry, thanks for being with us this morning. What do we know about this US air strike and the reasons behind it? Good morning, John, Yes, I mean what we understand is that the US military attacked three installations in Iraq yesterday, targeting this group which is linked to Iran, and this was in retaliation for an attack on a US base in Iraq that wounded three servicemen. So, you know, I think that this is a pattern which we've seen in the past. Obviously, there have been in a series of attacks in recent weeks on US military installations in both Syria and Iraq which have met with American retaliation. But you know what's interesting is that this happened on at the same time as Israel is reported to have carried out an airstrike in Syria which assassinated the top Iranian revolutionary regards military advisor in the country. So, you know, we see a sort of certain escalation which is taking place, obviously in the context of the war in Gaza, and this is sort of fanning concerns that there will be other fronts that will open up in this war. Yeah, with respect to the US Christmas Day strikes in Iraq is that directly tied to the war between Israel and Hamas. It's not directly tied. But what we've seen since October seventh, which is when you know, the war began in a Gaza, that the number of attacks have increased on US basis in the region. So definitely there has been you know, a link between the two. So you know, I think obviously what happened in Syria, I would argue, is much more serious actually because we've seen this pattern of attacks in Iraq and Syria on US basis and with you know, retaliation that has been going on for several weeks. But I would argue that the you know, the reporter at Israeli operation to target this senior reigning commander in Syria that could lead to a much bigger spiral of confrontation in Iran has avowed to take revenge. Henry, the Israeli Prime Minister Nittanya, who he was out with an op ed piece. In it he delivers what he says are prerequisites for peace with Hamas. What are those conditions? Well there, Primarily what he says is the demilitarization of Gaza, and he said the the radicalization Palestinian society. I mean, Israelis have been you know, quite very critical of the Palatinian authority. What they say has been the refusal to condemn the attacks October seventh on southern Israel, so you know event and then the final condition is the establishment of a buffer zone, which would be a sort of security cordon to prevent such attacks taking place in the future. You know, what that tells you is that the Israeli war goals are still very ambitious, and you know, they're not close to fulfilling them. And despite all the American pressure which has been increasing to at least scale back the operation, if not to end it in Gaza, we can see from Nata Naho's statement here that you know, they are determined to continue. The Biden administration has pressed Israel to change the approach. Is there any sign that is going to change just about twenty seconds. We don't know if that's going to happen, and we know that there are talks that are going to take place this week in Washington with a key advisor of Nittanyahu. He will be discussing whether that can happen. But as I said, the signals coming from Israel are still very much that they will continue at the current rate of offensive. You're listening to Bloomberg Daybreak today your morning brief. The story is making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning, starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious xmb iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Daybreak Weekend: Crypto Recap, Macau Recovery, Congress Wraps Up 2023

Sat, 23 Dec 2023 11:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

1) In the US - It's been a very Merry Crypto-mas with Bitcoin and Etherum surging. Will it continue in 2024?

2) In the UK - 2023 has been a year of inflation, rate debates, and job cuts. What lessons can be learned from the past year and how can they help us navigate the next 12 months?

3) In Asia - After a devastating pandemic and prolonged economic slowdown in China, how has Macau's casino and gaming business recovered?

4) In Washington - The 118th Congress has convened for the year after a session marked with turmoil. What was actually accomplished, and who were the winners and losers?

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Wall Street Awaits Inflation Data; Nike Sinks on Forecast

Fri, 22 Dec 2023 10:29:36 +0000

On today's podcast:
1) Stocks, US Futures Decline Before Inflation Gauge
2) Nike Sinks on Forecast
3) U.S. May Lift Ban on Sales of Offensive Weapons to Saudi Arabia

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US Mulling China Tariffs; Apple Smartwatch Deadline

Thu, 21 Dec 2023 10:53:46 +0000

On today's podcast:
1) US Mulling Hiking Tariffs on China EVs, Solar Products: WSJ
2) White House Says It’s Tracking Apple Watch Case With Ban Looming
3) Warner Bros. Is in Talks to Merge With Paramount Global

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Trump Barred in Colorado; Cease-Fire Speculation Grows

Wed, 20 Dec 2023 10:47:09 +0000

On today's podcast:

1) Trump Barred From Colorado Ballot in Unprecedented Ruling:
- Colorado’s highest court found that Donald Trump is ineligible to serve as US president because of his actions inciting the Jan. 6, 2021 attack on the US Capitol.

2) Herzog Says Israel Ready to Pause Fight in Bid for Hostages:
- Israeli President Isaac Herzog said his country is prepared to agree to a second humanitarian pause in fighting in exchange for the return of more hostages held by Hamas.

3) Federal Reserve Officials Push Back on Interest Rate Cuts:
- Federal Reserve Bank of Atlanta President Raphael Bostic said he doesn’t expect there will be urgency to lower rates next year, emphasizing that the US central bank must be resolute and patient as officials assess their next policy move.

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Tensions Rise in Red Sea; Apple Races to Fix SmartWatch

Tue, 19 Dec 2023 10:58:09 +0000

On today's podcast:
1) US Announces New Task Force to Counter Houthi Red Sea Threat
2) Apple Races to Tweak Software Ahead of Looming US Watch Ban
3) BOJ Keeps Traders Guessing on Negative Rate as Yen Rally Stalls

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Israel Pushes Back On Cease-Fire; Succeeding Jamie Dimon

Mon, 18 Dec 2023 10:36:07 +0000

On today's podcast:

1) Israel Pushes Back On Increasing European Calls for Cease-Fire
Israel’s foreign minister said any call for a cease-fire with Hamas is a “prize for terrorism,” after France, UK and Germany urged efforts toward halting the war as the civilian death toll mounts.

2) Dimon’s Heir at JPMorgan Still Hazy as ‘Five More Years’ Tick By
Halfway through Jamie Dimon’s special incentive to stay five more years atop JPMorgan Chase & Co., insiders are predicting more senior leadership changes to help potential successors gather experience.

3) Powerful Storm Lashes the East Coast With Wind and Rain
A powerful storm roaring up the US East Coast is hitting New York City, bringing heavy rain, widespread flooding, winds strong enough to delay air travel and to cause power outages.

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Daybreak Weekend: Holiday Shopping, BOJ Decision, Bitcoin ETFs

Sat, 16 Dec 2023 10:00:00 +0000

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

1) In the US - US retail sales unexpectedly picked up in November as lower gasoline prices allowed consumers to spend more to kick off the holiday shopping season.

2) In the UK - It's crunch time for last-minute shoppers ahead of the holidays in London - with retailers hoping for a last-minute surge in spending, despite the general economic gloom.

3) In Asia - Bank of Japan officials see little need to rush into scrapping the world’s last negative interest rate this month as they have yet to see enough evidence of wage growth that would support sustainable inflation

4) In Washington - Anticipation of a new wave of investors has Bitcoin booming once again. Key to the newfound optimism are indications that the US will soon approve exchange-traded funds that invest directly in the cryptocurrency.

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Markets Rally on Pivot Hopes; Yellen Plans Another China Visit

Fri, 15 Dec 2023 10:29:37 +0000

On today's podcast:

1) Equities held gains after the Federal Reserve validated bets that it will soon move to easier policy and pushed stock market gauges toward all-time highs.

2) Treasury Secretary Janet Yellen said she plans to visit China again in 2024, seeking to deepen areas of cooperation and improve communication even as she vowed to continue confronting Beijing over national security concerns and human rights.

3) Citigroup will shutter its municipal business, one of the most dramatic moves yet by Chief Executive Officer Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant.

Full Transcript:

Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen. Stocks are set for their fifth weekly gain, with rate cut bets giving traders a lot of hope heading into twenty twenty four. Equities are pushing for all time highs after J. Powell indicated this week the Fed could ease monetary policy soon. The S and P is advancing toward its seventh consecutive weekly advance. Oil is looking at its first weekly gain in almost two months. Neil Dutta of Renaissance Macro Research says the Fed is following a framework that will allow the US economy to grow. The die has been cast for this for a little bit of time now, I mean, and that's because inflation is slowing more rapidly than they expect. I mean, I think the Fed is following essentially a rules based framework where they're taking changes in inflation and the unemployment rate and translating that into expectations around the federal funds rate. And that's basically what's happening. In fact, last month, Neil detis that he expected the Fed to cut rates by March, so he says he is not surprised by the pivot, but Nathan Dudda's expectations were not shared by many on Wall streets, such as Peter Sheer, head of Macro's strategy at Academy Securities. Really took me by surprise of how comfortable the power was with cutting rates. So when I was at four twenty, I was getting nervous about risk assets because I thought the only way you have to four percent, given what the FED was saying, is for economic conditions to turn much worse. They didn't turn much worse, and yet we're at four percent because of the FED. So I think we have some room for risk to continue to rally, and it's been a great run. Peter Sheer with Academy Securities also tells Bloomberg, despite hawkish stances from the European Central Bank and Bank of England, he expects more growth outside the US. He specifically focused on shine Up. He anticipates further cooperation with the US and increased stimulus measures, and that's the signal that Treasury Secretary Janet Yellen is sending Karen. She says she's going to visit China again next year with a goal of deepening ties and improving communication with the world's second biggest economy. Speaking of the US China Business Council in Washington, Secretary Yellen said that the discussions will focus on difficult topics, but she expects cooperation from both sides. America's fundamental economic strength means that we have nothing to fear from healthy economic competition with China or any other country. The United States does not seek to decouple from China. This would be damaging to both our economies. Still, Treasury Secretary Yellen says the US will pursue export controls and investment restrictions that have angered China. She did stress the need to engage to prevent what she calls a wide range of diplomatic and financial crises. Well as for the latest moves in China, Nathan, the People's Bank of China pumped a record amount of cash into the economy to try to prop up as struggling property market and boost de mad It marked a bullish signal to investors who have been disappointed in china recent piecemeal approaches to stimulus. Meanwhile, stocks across Asia traded higher on optimism over a FED pivot. Now let's turn to a major move in US banking Karen Bloomberg News has learned City Group is shutting down its municipal bond business. It is one of the most dramatic moves yet in CEO Jane Fraser's ongoing restructuring as she looks to squeeze better returns out of the Wall Street Giant. Bloomberg Finance team leader Sally Bakewell says although the move was expected, it is still a shock. City was an absolute powerhouse in this four trillion market for US state and for local debt. It helped on deals for some very prominent buildings in landmarks, such as the World Trade Center rebuilding the Port Authority of New York and New Jersey. It was also one of the lead underwriters Bloomberg. Sally Bakewell says City will complete the wine down by the end of the first quarter. Source to say the moves expected to effect about one hundred employees and some more news on the labor front this morning, Nathan General Motors cutting more than one thousand, three hundred hourly job. Is it a pair of plants in Michigan. It comes less than a month after GMS he unionized workforce. It proved a new labor contract the counts will take effect January. First s turned to politics Now Karen and messaging out of Washington. President Biden continues to urge Israel to be more cautious in its war with Hamas. Bloomberg z ed Baxter has the details a bit of a change from the message he's delivered for the last week. NIC spokesman John Kirby says keywords are lower intensity possible transitioning from what we would call high intensity operations, which is what we're seeing them do now, to lower intensity operations sometime, you know, in the near future, meaning more surgical operations aimed at a Moss leaders rather than the current force. Biden says the focus should be getting Hamas, but also saving civilian lives. I'm at Baxter Bloomberg Radio, all right, and thanks. Meanwhile, in Europe, Ukraine has taken a win and a loss at the EU leader summit in Brussels. The leaders have agreed to open membership talks with Ukraine, but they couldn't not agree on a new financial aid package. That debate will extend into early next year. Hungary's Victor Orbond planned the are blocked the planned fifty billion euro package despite support from the twenty six other EU leaders. The amount of newly committed Western eight for Ukraine has fallen to its lowest level since Russia's invasion almost two years ago. That has Russian President Vladimir Putin expressing renewed confidence in his war aims at his annual end of year news conference. Coming back to the ghouls, they remain unchanged, I will remind you it means the Nazification, the neutralization all of Ukraine and its neutral status. This was President Putin's first end of your news conference since he ordered the Ukraine invasion in February of last year. S and P futures are higher by three tens of one percent, up thirteen points. Now futures up one hundred and twenty five points, that's again of a third of one percent, and Nasdaq futures are about a third of one percent higher as well, up fifty three points. Global headlines straight ahead, plus a check of sports. This is Bloomberg sor Ry Nathan. Thanks. It's time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's John Tucker. John, good morning, and good morning, Karen. Google Will stop telling police witch users we're near a crime. That story in this report this morning from Bloomberg's Amy Morris, Google is changing its maps tools so the company no longer has access to users individual location histories. It cuts off its ability to respond to law enforcement warrants that ask for data on everyone who is in the vicinity of a crime. The change comes three months after a Bloomberg BusinessWeek investigation that found police across the US are increasingly using warrants to obtain location and search data from Google, even for nonviolent cases and even for people who had nothing to do with the crime. Google will roll out the changes gradually through the next year on its own Android and Apple's iOS mobile operating systems. Amy Morris Bloomberg Radio. President Biden trying to rally support among seniors, highlighting new government caps and prescription drug prices, saying the effort will help crack down on price gouging by the pharmaceutical companies. Year before we pass the cization, drug maker's jacked up prices nearly four times faster and inflation went on and they were already too high. Let's call this for what it is is, simply, it's a rip off. Under legislation passed by Democrats, pharmaceutical companies are required to pay rebates to Medicare when they increase certain drug prices passed inflation rates into Bloomberg News Morning consult Paul released Thursday, Biden trailed Donald Trump across a number of swing states. US defense officials say a cargo ship caught fire in the Red Sea this morning into being hit by a projectile launched by rebel controlled Yimmen. The attack and eyed Lightberian flag vessel further escalates a campaign by Yemmens, Iran backed Hooti rebels who claim responsibility for a series of missile assaults in recent days. A lawyer for two former election officials told members of a jury and federal court Thursday they should send a message in considering how much former Mayor Rudy Juliani should have to pay for spreading diffamatory lies about them as part of his effort three years ago to keep President Trump in office. At the last minute decision, Juliani decided not to testify as planned on Thursday. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm John Tucker, and this is Bloomberg. Karen, all right, John, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means you can get it whenever you want it. Subscribe to Bloomberg News Now and you can get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Scores Update with John Stashauer John Karon. Blowout in the Desert. Just a few days after the Raiders had a home game and lost to the Vikings three did nothing. They had another home game and beat the Chargers sixty three to twenty one. This game was twenty one nothing in the first quarter. It was forty two to nothing at halftime. That's a near NFL record. It was sixty three to seven midway through the fourth quarter. The Raiders rookie quarterback Adan O'Connell through four touchdown passes. The Chargers lost four fumbles. It's the most points the Raiders have ever scored in the game, and it's the most points the Chargers have ever allowed. Celtics twelve and I went home. They've be in Cleveland, won sixteen to one oh seven. Warriors now just ten and fourteen, playing without the suspended Draymond Green. They lost to the Clippers in LA. Won twenty one one thirteen. Big NBA story so far this year the Minnesota Timberwolves now eighteen and five A one nineteen one oh one win in Dallas. Luca Dompson scored thirty nine and the loss. In Sacramento's win over Oklahoma City the Aaron Fox points for the King Shay Gilgess Alexander scored forty three the loss the Thunder. George McGinnis, the Hall of Famer who played for the Pacers and Sixers, has passed away at the age of seventy three. Capital Is lost in Philadelphia four to three in a shootout in LA. On the day that the Dodgers introduced Joe Otani, they added another player, pitcher Tyler Glass, now comes from Tampa Bay with outfielder and Manuel Margo. The Rays get a couple of prospects in return. Remember, Otani is not going to pitch. He's only going to hit in twenty twenty four. Don Statieward, Bloomberg's courts Karen, all right, John, thank you. While we are watching stocks, they're set for a fifth weekly game this on the Fed pivot, and we want to discuss all of this. We're going to be bringing in Andrew Sheets, the global head of Corporate Credit research Ed Morgan Stanley, for that discussion and ahead of EDSMP futures are higher again this morning. They're up three tenths even percent of about fourteen points. Dwaen Nasdaq futures all also up three tenths of up percent. This is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's exam, the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. There is plenty of fuel for optimism in the US market, with the Federal Reserve signaling this week that it is in fact ready to start thinking about cutting interest rates next year. But when it comes to global central banks like the European Central Bank and the Bank of England, they're holding firm on higher for longer. So what's this mean for the outlook headed into twenty twenty four. Let's get some answers now from Andrew Sheets, global head of corporate credit research at Morgan Stanley. Andrew, it's great to speak with you this morning. So what does a more dovish FED and a more hawkish ECB mean in your world? So? I think the important starting point is that I think we've seen an evolution of the data that's much better than we or the market would have expected six months ago. You know, over the last twelve months, the US economy has grown three percent year every year, and inflation's been declining. And in Europe you've seen again inflation really start to moderate in a way that the ECB a number of central bank watchers would not have expected six months ago. So I think the important factor, the most important factor, is that this year has been all about inflation, and inflation is finally coming down, which gives these central banks a lot more flexibility to moderate policy as that happens. So again, you know, you've seen central banks react to that a little bit differently, the FED sounding a little bit more dubvish, the ECB sounding a little bit more hawkish, But I think the core message as you go into next year is these are central banks that are done hiking. They're going to be cutting, and the path is going to be easing going forward. But the path is going to be easing at a much different pace. It seems like when we hear this more hawkish tone from the likes of Madame Legarde, what could that mean for a global bond markets If we see higher for longer in the Eurozone and maybe not so much here in the US. Well, I think what the market might test is how credible that more hawkish rhetoric really is. You know, we've seen a very weak PMI data out today from the Eurozone. You're seeing inflation in the Eurozone come down quickly, and on Morgan Stanley's forecast it continues to decline quickly. And so you know, we can understand from a strategic standpoint, not wanting to ease up too early on the rhetoric run inflation, wanting to establish the ECB's credibility on inflation. But as the data continues to come in, as inflation data continues to fall, as the growth data is soft, we'd be surprised. We would not expect the ECB to continue to sound this hawkish into next year, and would expect them to be to be easing policy in line with the FED into twenty twenty four. Interesting, what about the Fed's credibility? Is there a risk that the FED pivots back the other way next year? Is that something in your forecast? It's not in our forecast. And I think the point about credibility is key. You know, credibility is everything in central banking, and I think to the credit of the FED, they are talking more dubbishly as core inflation is coming down on Morgan Stanley's estimates with the latest readings of producer price inflation six month annualized core PCE, and thinking about core PCE is the measure of inflation that the FED cares about the most. Over the last six months, core PCE in the US is running at one point nine percent. It's at the Fed's target. If anything, it's a little below. So the idea that the FED is reacting to that data, it is and it's not done anything yet. It's simply talking about the possibility that it might ease and the fact that the FED thinks the neutral rate is way down at two and a half, two and three quarters. All the FED is doing is saying, look, we have policy way above neutral. Core inflation is rapidly approaching our target. Yes, we will be easing policy next year. I think that's a credible place for the FED to operate from. What about the market credibility of they're pricing in something like what six or seven rate cuts next year when we got three from the dot plot? Do you see the FED moving more in line with the market or the other way around. So the market has moved very quickly. I mean, we had forecasts that we thought were quite dubvish when we put out our outlook in the middle of in early October, in early November, excuse me, you know we had the US tenure at three ninety five. By the end of twenty twenty four, it's more than gotten there. You know, we had three hundred basis points of FED cuts over twenty four and twenty five. Again, a lot of that's getting priced in. So I think objectively, the market's moved to price in more cutting than we have expected. But I think it's also fair to say that it is historically normal. Once the FED thinks that a central bank is done hiking. The market usually expects, usually somewhat overestimates future cuts as the market's trying to balance the probability of a FED staying on hold with something more significant, So a lot has been priced in. But I think the general idea that the market once a FED, once the FED is done, starts pricing in more cuts that is very consistent with what we've seen over prior cycles. Really good to have you on with us, Andrew, at the end of a really interesting week for central banks. That's Andrew Sheets with us this morning, Global head of Corporate Credit Research at Morgan Stanley. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast, feat at six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERRIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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