Bloomberg Daybreak: US Edition

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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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 See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

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 See omnystudio.com/listener for privacy information.

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 an

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

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.See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

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,

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 misman

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 Saud

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. Secreta

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 we

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. See omnystudio.com/listener for privacy information.

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 Emir

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

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

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 T

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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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 pric

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 Bitc

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 wa

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

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? See omnystudio.com/listener for privacy information.

On today's podcast:1) Stocks, US Futures Decline Before Inflation Gauge2) Nike Sinks on Forecast3) U.S. May Lift Ban on Sales of Offensive Weapons to Saudi Arabia See omnystudio.com/listener for privacy information.

On today's podcast:1) US Mulling Hiking Tariffs on China EVs, Solar Products: WSJ2) White House Says It’s Tracking Apple Watch Case With Ban Looming3) Warner Bros. Is in Talks to Merge With Paramount GlobalSee omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

On today's podcast:1) US Announces New Task Force to Counter Houthi Red Sea Threat2) Apple Races to Tweak Software Ahead of Looming US Watch Ban3) BOJ Keeps Traders Guessing on Negative Rate as Yen Rally StallsSee omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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 contrac

On today's podcast: 1) President Joe Biden’s unprecedented actions to erase student-loan debt have fallen flat with the young voters in swing states he needs to win reelection, according to the latest Bloomberg News/Morning Consult poll. 2) After clashing in recent years, Wall Street traders and the Federal Reserve are – for once – broadly in sync: The great monetary pivot is near as central bankers engineer a once-unthinkable soft landing in the world’s largest economy. 3) House Republicans threatened the US Food and Drug Administration with a subpoena as they intensify scrutiny of the agency’s efforts to deal with quality problems with drugs made in India and China.Full transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We want to bring you fresh data now. In the twenty twenty four presidential race, a new Bloomberg News Morning Consul poll shows former President Donald Trump now ahead of President Biden in all seven of the swing states that are likely to decide next year's election. Trump leads forty seven to forty two percent across those states. That is outside this poll's margin of error of one percent. The survey finds President Biden failing to gain traction among suburban women in Michigan, young voters, and union households. He trails Trump in Michigan forty six to forty two percent. As concerns over inflation ride high. Council of Economic Advisor's chair Jared Bernstein tells Bloomberg that sentiment should improve as we get closer to election if we continue to maintain our progress lower prices, not just in the things I mentioned where they're actually coming down eggs, milk, toys, TVs, but also in areas of healthcare. That's the path that we need to stay on. We're not there yet, We're moving in the right direction. But how do we know that. Well, one thing we really need to see is for some of these sentiment indices to reflect that progress, and Jared Bernstein with the Council of Economic Advisors admits those sentiment indices have not gotten better yet. Well, Nathan, another demographic that's expressing concern is Generation Z. The Bloomberg Morning Console poll also finds many young voters in swing states don't think Biden is doing enough on student loan payments. However, Around University professor Wendy Schiller thinks former President Trump's support could wane as he re enters the spotlight. As he comes back into the limelight and independence are reminded of why they have not voted for Trump or Trump's surrogates in the last three elections. That's where I think the polling becomes more favorable, if you can put it that way, for Biden, in the sense that he is a chance to win those voters back into the Democratic camp at least at the present and Brown Universities. Wendy Schiller also says Democrats will need to improve their messaging to get Biden re elected in twenty twenty four. Well, another complication for the president, Karen the House has voted along party lines to formally authorize the impeachment inquiry into President Biden. This sets up a high profile clash with the White House over the investigation that's focused on Biden family finances and business dealings. House Oversight Chair James Comer spoke after the vote. We have a simple question that I think of no blooming majority of Americans have. What did the Bidens do to receive the tens of millions of dollars from our enemies around the world. Despite those accusations from Republican James Comer, Democrat Jamie Raskin says, the attacks on the president are baseless. They understand there's no real evidence to support any presidential offense here. They haven't even named what they think the crime is. House Democrat Jamie Raskin says the impeachment inquiry is purely about next year's election. Well, we turn to the markets now, Nathan and the monetary pivot that traders have been waiting for. After keeping interest on hold, the FED gave its clearest signal yet that its historic policy tightening campaign is over, projecting rate cuts in twenty twenty four, Fed heire J Powell's News Conference United, one of the biggest post meeting rallies in recent memory. The down closed at a record and the S and P gained one point four percent, but Powell did not entirely rule out tightening. Inflation has eased from its highs, and this has come without a significant increase in unemployment. That's very good news, but inflation is still too high ongoing progress and bringing it down is not assured, and the path forward is uncertain. Chairman Powell reiterated that the FED remains data dependent, but former Atlanta FED President Ans Lockhart says the Fed's tentatively DUBBSH stance, as he puts it, is appropriate at this time. It's clear that they're going into twenty twenty four with the idea that they will be cutting rate, and the summary of economic projections showed to range among fifteen of them from two cuts to four cuts, so it's not a really tight census yet. And former

On today's podcast: 1) Volodymyr Zelenskiy pleaded with US lawmakers to approve $61 billion in aid vital to his war effort but left Washington with no clear commitment that his most important ally will keep up support as his fight against Russia’s invasion drags toward a third year. 2) The Federal Reserve will likely hold interest rates steady for a third straight meeting, while pushing back against market expectations of rate cuts as soon as March. 3) The COP28 climate talks in Dubai ended in a historic deal that committed the world to a transition away from all fossil fuels for the first time.See omnystudio.com/listener for privacy information.

On today's podcast: 1) Google’s legal defeat at the hands of Fortnite maker Epic Games Inc. threatens to roil an app store duopoly with Apple Inc. that generates close to $200 billion a year and dictates how billions of consumers use mobile devices. 2) Harvard President Claudine Gay will remain in office after receiving backing from the University’s highest governing body, according to a report from the college’s student newspaper. 3) A monthly Bureau of Labor Statistics report due Tuesday is set to show consumer prices were unchanged again in November, giving the Federal Reserve room to consider lower interest rates in the months ahead, according to Bloomberg Economics. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We want to begin this morning with an antitrust ruling that threatens to upend the mobile app economy. A federal jury in San Francisco has ruled in favor of video game developer Epic Games, declaring that Alphabet's mobile app store has a monopoly over distribution of programs and payments on its Android software. Like Apple's App store, Google Play charges up to thirty percent commissions for users, and it generates close to two hundred billion dollars a year. Bloomberg Executive editor Peter Elstrom says this was a surprise ruling after Epic lost a similar case against Apple two years ago, but he says there are some key differences. Google had a whole series of special deals that it was cutting with different companies from different fees within the app store. For example, Spotify, the music service, essentially bypass the fees from the Google App Store. In many cases, companies pay thirty percent fees. So the argument was that Google. Google had something that they called Project hug where they were trying to keep the most important apps within the store not go to rival stores that could compete against them in the Google Play Store, and Epic argued that this was at a competitive behavior. Bloomberg's Peter Elstrom says Alphabet plans to appeal the decision. Epic didn't seek financial penalties, but it is looking for changes to the Google Play Store. Well, we turned to Washington, now, Nathan, where the focus is on geopolitics and the fight over a foreign aid in Congress. Ukraine's President Vladimir Zelenski is in Washington for a two day visit. He spoke alongside Defense Secretary Lloyd Austin at the National Defense University yesterday. Process war on Ukraine isn't just about Is it just about some old fashioned dictatorship trying to settle scores real or imagined. It's not just Moscou trying to split Europe again. It's put him put in attacking that big sheet that happened back in nineteen eighty nine. And President Zelenski also met with the head of the International Monetary Fund, A christ Alina Georgiaeva, who announced the dispersal of nine hundred million dollars in aid. Selenski meets today with President Biden and Republican lawmakers. They refused to budge on about sixty billion dollars in new assistance without funds for the southern border. Well, Karen, the focus is also on the other major global conflict in the Middle East. President Biden is warning Israel that public support for its war against Hamas could shift as the civilian death told mounts in the Gaza strip. The President is still backing Israel's fight, as I said after the attack, Mike, commitment to the safety the Jewish people and the security of israel Is right to exist, is independent as an independitary state is just unshakable. President Biden spoke at a Whinehouse Honkka reception as his administration pushes Congress for new aid. Meanwhile, Nathan last Week's Congressional testimony over campus anti semitism continues to Royal higher education. More than seven hundred faculty members at Harvard University have signed a petition urging school leadership to resist political pressures, including calls for the removal of President Claudine Gay. More than a thousand students at alumni, including billionaire donors like Bill Lackman, are demanding this school replace her, and this morning, sources tell the school's newspaper at the Harvard Crimson, that Gay will remain in office. After receiving backing from the university's highest governing body, Gay in the heads of MIT and the University of Pennsylvania struggle to say directly that calling for the genocide of Jews violates school harassment policies. Liz McGill stepped down as Penn's president over the weekend. Sticking with politics, the Supreme Court has agreed to hear former President Donald Trump's claims of presidential immunity over the Special Council's twenty twenty election interference case. Bloomberg Zed Baxter has that story. Special counsel Jacksmith filed the motion, saying it goes to the heart of democracy whether Donald Trump or any other president has what Trump has claimed as absolute immunity. Trump filed an appeal that would go to win Appellet Court, but Smith petitioned the h

On today's podcast: 1) Global leaders express concern over civilian deaths in Gaza 2) President Biden's Israel support dents poll numbers as Putin, Netanyahu Talk Amid Rising Tensions Over Israel-Hamas War 3) Traders look for rate clues ahead of this week's Fed meeting See omnystudio.com/listener for privacy information.

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 - We preview Federal Reserve policy meeting and news conference with Chair Jerome Powell. Economists see the Fed’s policy committee maintaining a benchmark interest rate target of 5.25% to 5.5%, with bond traders leaning toward a cut in the first half of 2024. 2) In the UK - It's a big week ahead for central banks in Europe too - with both the Bank of England and the European Central Bank meeting on Thursday. Market bets on rate cuts from policymakers in London and Frankfurt have been ramping up - but there's more data to come too. 3) In Asia - The Chinese economy has struggled this year in its post-Covid recovery. For months, the optimists have been hoping for signs of a turning point. Might there be a glimmer of improvement in the week ahead? 4) In Washington DC - we look ahead to what we can expect from congress in the new year. See omnystudio.com/listener for privacy information.

On today's podcast: 1) The Palestinian Authority is working with US officials on a plan to run Gaza after the ongoing war is over, with one of its top leaders arguing that Israel’s aim to fully defeat Hamas is unrealistic and the militant group should instead join it under a new governing structure. 2) President Joe Biden’s son Hunter was indicted on nine federal tax charges in a development that will become a political headache for the White House and Democrats as the 2024 campaign ramps up. 3) Treasury yields rose as traders pared expectations for the Federal Reserve to ease monetary policy aggressively next year after a better-than-forecast jobs report. Full Transcript: Good morning. I'm Nathan Hager and I'm Amy Morris. Here are the stories we're following today. This morning, we are learning the Palestinian authority is working with the US on a plan to run Gaza after the fighting ends. Palestinian Prime Minister Mohammad stay I spoke with Bloomberg News. He says his preferred outcome would be to include Hamas as a junior partner in a post war administration, if they are ready to come to ground, to an agreement and really accept the political platform of the PLO, accept the tools of struggle because this is an important point of difference between us and them, and then there will be a room for talk. Otherwise it's just simply things will continue to be the same. Prime Minister Mohammad Staya also tells Bloomberg he does not believe Hamas can be eradicated by Israel. His comments are at odds with the stated aim of Israel's military campaign to wipe out the militant group following the deadly October seventh terrorist attack. The war in Gaza so far has killed more than sixteen thousand Palestinians. That's according to the Hamas run Health Ministry. Now the major legal news breaking overnight in the US that could be a new political headache for President Biden. The president's son Hunter has been indicted on nine new federal tax charges in Los Angeles. That's on top of the federal gun charges he's facing in Delaware. We get more from Bloomberg's David Voriakis. It expands on an earlier agreement in which he would have pleaded guilty in federal court in Delaware and in July and avoided prison. Under this indictment, he could theoretically be sentenced to as much as seventeen years in prison. What government alleges is, I will quote, the defendants spent this money on drugs, escorts and girlfriends, luxury hotels and rental properties, exotic cars, clothing, and other items of a personal nature. In short, everything by his taxi. Bloomberg's David Voriaki says. These new charges come as House Republicans plan to vote next week on formalizing their impeachment inquiry into President. By this latest indictment against Hunter, Biden does not offer evidence that the President benefited from or was involved in his son's activities. Also in the twenty twenty four election, Amy Republican Ron DeSantis's campaign is dealing with more disappointing news, as Bloomberg said, Baxter reports a fundraising event for the Florida governor tend to be canceled. About three thousand donors were invited to a Never Back Down super Pack lunch and to be held before this week's debate. A ten thousand dollars contribution would have given donors access to the lunch where Casey Dessentis was scheduled to speak, as well as a ticket to the debate itself, and an invite to a post debate celebration with a governor. Well, just a couple of days prior to the date, Never Back Down decided to cancel. Scott Wagner, who leads the pack, cited lack of interest. In November, a similar event raised one million dollar dollar, aed Baxter, Bloomberg Radio Right, Thank You ed Elsewhere in politics, more fallout for those IVY League presidents who struggled to denounce campus anti semitism on Capitol Hill this week. The presidents of Harvard and the University of Pennsylvania have issued statements clarifying their positions, but now investment manager Ross Stevens has withdrawn a one hundred million dollar donation that he had planned to give to Pen. Those details from Bloomberg's Charlie Pellett. Stevens is co founder of stone Ridge Asset Management, and he had pledged a stake in the firm to the Ivy League University to fund the Stevens Center for Innovation in Finance. According to a letter to university officials, Lawyers representing the firm said the school had violated anti discrimination and anti harassment policies it had accepted in order to become an investor in New York. Charlie Pellett Bloomberg Radio. Okay, Charlie, thank you. Turning to markets, Investors are waiting for a critical data point this morning, the November jobs report, coming ahead of next week's FED meeting, their last of twenty twenty three. Let's get a preview from Bloomberg's Michael McKee. We should be seeing signs of a slowing economy in the labor market, but economists say not just yet. The consensus forecast is November saw the pace of hiring pick up, while unemploymen

On today's podcast: 1) Elon Musk’s SpaceX has initiated discussions about selling insider shares at a price that values the closely held company at $175 billion or more, according to people familiar with the matter. 2) The latest jockeying between President Joe Biden and Republicans in Congress over Ukraine aid is fueling fresh concerns over Washington’s commitment to support Kyiv’s fight against Russia as the 2024 US election nears. 3) Former UN Ambassador Nikki Haley solidified her claim to be the main alternative to Donald Trump for the Republican presidential nomination, drawing attacks from her rivals over her connections to Wall Street donors and hawkish foreign policy views.See omnystudio.com/listener for privacy information.

On today's podcast: 1) Russian President Vladimir Putin arrived in the United Arab Emirates to start a rare foreign trip that will also include a visit to Saudi Arabia, with bolstering cooperation among strategic oil producers a top priority. 2) Israeli leaders rebuffed mounting pressure to halt the military campaign in the southern Gaza Strip, vowing to press on until Hamas is eradicated even as the death toll rose and the United Nations warned that civilians had no safe harbor amid the bombing. 3) President Joe Biden said he may have decided to serve just one term if Donald Trump were not seeking to return to the White House, arguing the former president poses a grave threat to American democracy. 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 on the war in the Middle East. Israeli leaders are vowing to continue their fight to eradicate Hamas despite criticism from international groups. Prime Minister Benjamin Netanyahu lashed out after the un said there are no longer any safe places in Gaza. I say, to the women's rights organizations, to the human rights organizations, you've heard of the rape of Israeli women, horrible atrocities, sexual new relation. Where the hell are you? Prime Minister Natanyahu's troops are continuing to press into the southern Gaza city of han Yunis Well, Nathan. Back here. In the US, presidents of three prestigious universities, Harvard, MIT, and Penn were called to Capitol Hill to explain to lawmakers what they're doing about an outbreak of anti Semitism on their campuses. Bloomberg's Amy Morris has more from Washington. The university presidents told lawmakers they won't tolerate anti semitism on their campuses as they cope with protests over the Israel Humas war. During heated questioning, by New York Republican Elis Stephonic. Harvard University professor doctor Clauding Gay cited free expression and says the school consistently enforces its rules of conduct, even of views that are objectionable, offensive, hateful. It's when that speech crosses into conduct that violates our policies against bullying Haras. Does that speech not cost that barrier? Does that speech not call for the genocide of Jews and the elimination of Israel? We embrace a commitment to free expression. Alumni and donors, citing incidents of anti Semitism, psychologists just aren't doing enough to create a safe learning environment for Jewish students in Washington. Amy Morris, Bloomberg Radio, all right, Amy, thank you. In other news this morning, Vladimir Putin has arrived in the United Arab Emirates at the start of a trip that will also include a visit to Saudi Arabia. It is a rare overseas trip since the invasion of Ukraine. The Russian president is seeking to bolster partnerships with key oil producers. Bloomberg's Rosalind Mathieson says the visit reveals a lot about the way Putin sees his position. He's really not left Russia very much since he invaded Ukraine almost two years ago. He's been to China, he's been to some of the proof ree States, but he's not really ventured any further than that. So simply the fact that he now feels confident enough to travel to the UAE, to travel to Saudi Arabia, to meet with some very very high level officials in both countries shows perhaps a reflection of how he's feeling at the moment about his hold on power at home, about where he's born in Ukraine is at and really that he's not feeling isolated on the global stage. Bloomberg's Ros Matheson says Putin's previously limited trips mainly two close allies since he ordered troops into Ukraine. Well, let's turn to US politics now, Nathan And a revealing comment from President Biden. The president says he might have decided not to run for reelection if former President and Donald Trump were not in the race. At a fundraiser in Massachusetts, the President said, quote, we can't let him win for the sake of the country. He was asked about the comment afterward. I expect so, but look, it is running and I just have to rus not no, not now. The President's comments come as polls show many voters are concerned about his age and the prospects of a Biden Trump rematch. Well. Meanwhile, Karen, the President's re election campaign does expect to raise more than fifteen million dollars in events across the country over the next five days. Biden is back in Washington after those three fundraisers in Boston, there was one actually that included singer James Taylor. On Friday, the President plans to travel to Los Angeles for a fundraiser with film director Steven Spielberg and Rob Reiner. Oh, we turned to the markets now, Nathan, as we await the crucial Friday jobs are pored. Another labor data point is reinforcing optimism of rate cuts, and we get the latest from Bloomberg's John Tucker and Karen. It's just what the Fed wants to see. The jolts or job opening survey pulling back in October to the lowest level since early twenty twenty one. It unde

On today's podcast: 1) Israel Grinds War South as US Monitors Gaza Civilian Deaths 2) Dalio Says End of ‘Free Money’ Is Making Climate Fixes Difficult 3) Did Markets Go Too Far, Too Fast Is Debate to Dominate See omnystudio.com/listener for privacy information.

On today's podcast: 1) Israel’s military is expanding its operations across the Gaza Strip, with the expectation of a ground invasion of southern Gaza looming and warnings to many of the territory’s 2.2 million residents to evacuate again. 2) Spotify shares rise after the company said it will reduce headcount by about 17%. It's at least the third time this year the streaming service has cut jobs. 3) Bitcoin tops $41,000 as the largest digital asset extends a 2023 rebound on expectations of interest-rate cuts and the prospect of greater demand from the exchange-traded funds sector. FULL TRANSCRIPT: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We bring you the latest developments out of the Middle East. A US Navy ship has responded to a flurry of drone and missile strikes against commercial ships in the Red Sea. At the same time, Israel's military is expanding its operations now across the Gaza Strip. We get the latest from Bloomberg News Israel Bureau chief Ethan Brauner in Tel Aviv. We're expecting a ground operation this week. I imagine in han yunis As, the main city in the south there, that they believe this is after all, where yaj Sinoar, the head of Hamas, where he's from, and they think that both he and Muhammad, they've the military chief of Hamas, are underground in tunnels there. So they have started asking people who have either or living there or who've moved there from the north to move yet again, causing a lot of displacement and concern and fear. And I think it is going to be a difficult week. Bloomberg's Ethan Broner says Israel has struck about two hundred targets, including weapons storage facilities and a school in northern Gaza, where it says Hamas was operating. Meanwhile, Nathan Defense Secretary Lloyd Austin is sending a warning to Israel about using too much for sun civilian populations in Gaza. We get that part of the story from Bloomberg's Ed Baxter. The caution comes as Israeli soldiers move with great force to the south. Secretary Austin is urging extreme caution. If you drive them into the arms of the enemy, you replace a technical victory with a strategic defeat. So I have repeatedly made clear to Israel's leaders that protecting Palestin and civilians in Gaza is both a moral responsibility and a strategic imperative. Austin has drawn criticism from Republican Senator Lindsey Graham, who calls him naive, saying strategic failure is letting Hamas stand. Ed Baxter Bloomberg Radio, Okay, and thank you. The administrations ramping up pressure on Congress over aid to Ukraine. White House Budget Director SHLANDA. Young says the US will run out of funds to assist Ukraine by the end of this year unless Congress acts Republican Senator James Lankford says he thinks the deal can get done by then with the funds tied to border security. We're going to do this all together. That's been the agreement that again from the White House originally and asked for all these things to be together. We have agreed to do all these things to be able together. We can get this done by the end of the year. Senator Lankford was on ABC's This Week, which you can hear every Sunday on Bloomberg Radio. The White House is seeking more than sixty one billion dollars in Ukraine eight as part of one hundred and five billion dollar emergency package that also includes funds for Israel, Pacific allies and border security. Well, we turned to Wall Street Now Nathan An optimism over FED rate cuts next year has several markets on the move. This morning we had the latest of the Bloomberg's John Tucker, John and Karen Traders are still digesting FED share Jerome Palell's comments on Friday. This is part of what he had to say. We are prepared to Titan policy further if it becomes appropriate to do so. Well. Powell also said monetary policies well into restrictive territory, and in the selective hearing of investors, that's the narrative. Wall Street latched onto the S and B five hundred continued It's March higher. Friday, treasure yields tumbled, and as we start the new trading week, gold earlier shot past a previous all time high, Bitcoin back above the forty one thousand level to the Hygha sins April of twenty twenty two. The everything rally will need some data to back it up. The latest reading on job openings or jolts. That's due tomorrow, and the jobs report is out on Friday. I'm John Tucker, Bloomberg Radio. All right, John, Thanks. You've also got deals to start the week, including one in the air. Alaska air Group has agreed to buy rival Hawaiian Airlines. More on that from Bloomberg's Doug Grisner. Alaska will pay roughly a billion dollars for shares in Hawaiian holdings and take on about nine hundred million dollars in Hawaiian debt. Hawaiian has been hurt by the slow return of tours in between Asia and Hawaii after the pandemic. The carrier has also struggled as Southwest Airlines ramped up in the Hawaii to US market. Alaska Air's proposal may be tested. The Biden

Reports of crimes targeting Jews, Muslims and Arabs have risen around the world in since the Oct. 7 Hamas attack on Israel, and the Israeli military’s retaliatory operation in Gaza. While previous conflicts in the Middle East also sparked a backlash outside the region, this time it is more intense and the wave of hate may be far from cresting, according to advocacy groups, former law enforcement officials and analysts. In this Bloomberg Radio special report, Stephen Carroll examines how these communities are confronting a global surge in hate speech and hate crimes.See omnystudio.com/listener for privacy information.

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, Economists expect the November unemployment print, due out Dec. 8, to increase to 4% as unemployed workers take longer to find new jobs. 2) In the UK, we'll get fresh data on the number of new car registrations in the coming days. The sector has shown some signs of recovery recently, but manufacturers are still battling against a challenging post Brexit environment including painful tariffs on electric vehicles. 3) In Asia, The EU has said it does not want to decouple from China but rather, to de-risk parts of the relationship. So with a summit coming up between the two blocs, how might China and the EU navigate their dialogue on improving their trade relationship? 4) In Washington, CEOs of the biggest banks on Wall Street, including JPMorgan, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America, expected to testify on regulatory oversight to the Senate banking committee.See omnystudio.com/listener for privacy information.

On today's podcast: 1) Israel resumed combat against Hamas in the Gaza Strip after a week-long truce between the two sides ended on Friday morning. 2) European stocks advanced and the dollar fell before comments from Federal Reserve Chair Jerome Powell that may offer clues about the path of interest rates. 3) After two years of delays and production snags, Tesla has finally handed the first Blade Runner-esque Cybertrucks over to customers. 4) Governors Ron DeSantis of Florida and Gavin Newsom of California sparred over taxes, border security and energy, in a debate that unfolded as a sideshow to the 2024 presidential race — and perhaps a glimpse of the next one. Full transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Israel has resumed airstrikes in Gaza, minutes after the expiration of a week long truce with Hamas we get the latest from Bloomberg's Anthony Squasien in Tel Aviv. Truce wasn't extended at seven am local time. It was some rocket warnings miss I was being fired and to Israel just before that ended, and Israel responded immediately, and it looked like we're back to fully fledged conflict right now. Reports of air strikes in Gaza made different parts of Gaza, and it does seem that the relative calm of the last seven days is well and truly over. Bloomberg's Anthony Squasiin in Tel Aviv, says Prime Minister Benjamin Netan. Yahoo and other Israeli politicians had consistently said the war would resume at some stage and the truce would not become permanent. Well, Nathan. Secretary of State Anthony Blinkin was in Tel Aviv when the fighting restarted yesterday. He said that Israel must defend itself within the confines of international law. Way israel defense itself matters. It's imperative that is relacted in accordance with internationally mediterran law and the laws of war, even when confronting a terrorist group that respects neither. And Secretary Anthony Blincoln was speaking before the latest escalation. Hamas and other Islamist groups are still thought to be holding around one hundred and thirty people captive in Gaza. Turning back to politics in the US, Karen, there's been a debate between a Republican who's running for president and a Democrat who says he's not. Florida Governor Ron de Santis squared off last night with California Governor Gavin Newsom. This is a slick, slippery politician whose state is failing. People are leaving a state. Governor DeSantis went after Newsom and California over immigration, high taxes, and crime. Governor Newsom touted the White House's message of Bidenomics three point nine percent unemployment, the lowest black unemployment in American history, the lowest unemployment for Hispanics in American history, the lower most unemployment for women in seventy years, at lowest black poverty rates in history, and the Fox News debate comes as DeSantis struggles to gain ground on Republican front runner Donald Trump in twenty twenty four. It also allowed Newsome to air his presidential ambitions for twenty twenty eight. Well, Nathan, Let's turn to the markets now. Stocks begin December after notatching one of the biggest November rallies on record, and we get more from Bloomberg Stirlei Pellett. After the months three trillion dollar serge, the S and P five hundred is now just five percent away from its all time high. The gauge climbed over eight percent in November, a feat achieved fewer than ten times for that month since nineteen twenty eight, according to data compiled by Bloomberg. It was also the gauge's best month since July of twenty twenty two in New York, Charlie Pellett, Bloomberg Radio and Charlie. Was also a profitable month for bond investors. In fact, treasuries had their best month since the nineteen eighties, and we get more on that from Bloomberg's John Tucker. The boon to bonds comes from signs the economy and inflation are slowing and the Fed is done hiking interest rates well. Traders are even betting on the first FED rate cut in May. Bloomberg Economics sees the FED cutting rates one hundred and twenty five basis points next year. The Bloomberg US Aggregate Index returned four and a half percent of November. That price up and yield down has spurred an everything rally, from stocks to cryptocurrencies. Does it continue? Listen closely today as FED Chair Jerome Powell speaks at Spelman College in Atlanta, and if he sounds even a little hawkish, November's rally may turn into the winter of our discontent. I'm John Tucker, Bloomberg Radio. All right, John, thank you. By the Federal Reserve's top bank, a watchdog wants lenders to be more comfortable turning to the Central banks discount window. Michael Barr, the FEDS Vice Chair for Supervision, towed to the backstop as an important tool for financial stability and monetary policy. The discount window provides ready access to funding that can help banks manage their liquidity risks. The ability to access funding at a predictable rate throughout t

On today's podcast: 1) Henry Kissinger, the child refugee who rose to become US secretary of state and defined American foreign policy during the 1970s with his strategies to end the Vietnam War and contain communist countries, has died. He was 100. 2) Israel and Hamas agreed to lengthen their truce for at least another day, allowing for the release of more hostages held by the militant group in Gaza. 3) Elon Musk, the billionaire owner of X, says the advertisers that have stopped spending on the platform due to his endorsement of an antisemitic post can “f——” themselves. 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 passing of a man who defined foreign policy in the nineteen seventies and worked to shape it for decades. After Henry Kissinger has died, Bloomberg political contributor Rick Davis says Kissinger's influence was unmatched. It's quite a career that lasted my entire life. I would say that we've not seen much of the likes of him, somebody who has never been elected to office, but wielded as much power as any powerful president or prime minister in the world. Kissinger was credited with opening the door to China and achieving detente with the Soviet Union, but he courted controversy for supporting massive bombing campaigns in Vietnam and Cambodia. Bloomberg's Ian Marlow says Kissinger leaves a complicated legacy around the world, in Asia in the Middle East. Could be a polarizing figure, but I think that was in part because he embodied that sort of American power. He was one of the people at the center of American power, and over a long period of time when the US role in the world was also changing, and it is to some extent and end of an era, and that era continued right to the end. This past July. In fact, Henry Kissinger met with Chinese President Shi Jinping in Beijing to discuss US China relations. Henry Kissinger died yesterday at his home in Connecticut. He was one hundred years old, and Nathan we turn out to breaking developments in the Middle East, Israel and Hamas have agreed to extend their truce for at least another day. The two sides announced the extension just minutes before their ceasefire was due to end. Head of the announcement, Secretary of State Anthony BLNCN explained what he hopes to achieve during his visit to the region. We'll discuss with Israel how it can achieve its objective of ensuring that the terrorist attacks of October seventh never happen again, while sustaining an increasing amount of train assistance and minimizing further suffering and casualties among Palestine civilians and Secretary of State Blincoln is currently in Tel Aviv for his third visit since the attacks. He will also visit the West Bank, the visit comes as more captives were exchange yesterday evening, with ten hostages released by Hamas in exchange for thirty Palestinians held by Israel. And back here in the US, Karen House Speaker Mike Johnson says he has real reservations about expelling Congressman George Santos. We get that story from Bloomberg's At Baxter, the resolution says the vote needs to happen today, but Speaker Johnson says, for him, there are some real problems here. I personally have real reservations about doing this. I'm concerned about a president than may be set for that. So where everybody's working through that and we'll see how they vote. Sados will be the first expulsion without a conviction on charges. Johnson at one point yesterday said the vote would come Friday, but the resolution does say today, so we'll see how it works out. At Baxter Bloomberg Radio, All right, ed, Thanks well. Elon Musk is talking about the future of ex following and advertising boy and we get the latest from Bloomberg's John Tucker. John what the boycott is going to do mus says is kill the company, and who does he blame? Well, not himself, but the advertisers he herald in an expletive their way, saying they can go bleep themselves. Those advertisers include Walt Disney and Apple. Earlier this month, Musk agreed with a post that said Jewish people hold a dialectical hatred of white people. Well, that message has since drawn widespread criticism. On stage at the New York Times Deal Book conference, must did say the post was the worst and dumbest he's ever done. Mustourage people to judge him by his actions rather than his words. He brought up his electric car company, Tesla, saying he's done more for the environment than any human. I'm John Tucker, Bloomberg Radio. All right, John, thank you. Now, let's take a look at some stocks on the move this morning. Shares of Salesforce are up nearly nine percent. The San Francisco based software company gave a profit forecast for the current quarter. The top D analyst estamates Salesforce is benefiting from its cost cutting program. Meanwhile, Nathan Snowflake is up about eight and a half percent. The company gave a product sales outlook for the current quarter that beat expectati

Henry Kissinger, the child refugee who rose to become US Secretary of State and defined American foreign policy during the 1970s with his strategies to end the Vietnam War and contain communist countries, has died. He was 100. Not long before his passing, Kissinger sat down with Bloomberg Editor-in-Chief John Micklethwait for an extended conversation. He talked about his life and career, what shaped his worldview, and his thoughts on the current state of global affairs. Listen here for that special conversation, in its entirety.See omnystudio.com/listener for privacy information.

On today's podcast: 1) As the truce between Israel and Hamas enters its final 24 hours, negotiators from Qatar, Egypt and the US are pressing for an extension to try to secure the release of additional captives and avert a resumption of a war that erupted almost two months ago. 2) Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99. 3) Billionaire investor Bill Ackman is betting the Federal Reserve will begin cutting interest rates sooner than markets are predicting. 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 war in the Middle East. This is the final day of an extended six day ceasefire between Israel and Hamas. The Palestinian group handed over a dozen more hostages last night, ten Israelis and two citizens of Thailand. White House National Security spokesman John Kirby says he hopes the ceasefire can be extended so more Americans can be freed. I don't want to I'll give you a handicap here on this or bet nods. I can just tell you that we want to see all the hostages out. The way to do that is these pauses. My White House spokesman John Kirby spoke with reporters outside Air Force one CIA director Bill Burns is and caught her for talks about extending the ceasefire. Secretary of State Anthony Blincoln will be back in Israel later this week, and in a post on ex President Biden called for an end of the fighting. He says Hamas fears nothing more than Israelis and Palestinians living side by side in peace and now Nathan the financial world. EA is mourning and remembering the life of Charlie Munger. Munger, who helped build Berkshire Hathaway with Warren Buffett, died yesterday at the age of ninety nine, and we have more with Bloomberg's John Tucker, John and Karen with wit, wisdom and one liners. Charlie Munger served as Warren Buffett's alter ego, often telling it with brutal honesty what wouldn't work. Munger was known for steering Buffett away from purchasing what Buffett called cigar butts mediocre companies had a puff of smoke left and could be bought for very cheap prices, and instead favoring quality. A lawyer by training, Monger recalled how he was steered toward investing when I met Warren. He immediately started telling me how much better his way of making a living was than mine, and that I was too smart to stay in such a silly businesses law practice when I could go into his business of running an investment partnership. And it took me about two or three years to realize he was right. His death, Lee's Buffett without his law time sounding board for investors, maybe his most enduring legacy is Berkshire's performance under their management. Berkshire average an annual gain of twenty percent from nineteen sixty five through twenty twenty two. I'm John Tucker, Bloomberg Radio. All right, John, thanks, of course. Charlie Munger is also going to be remembered for his roles as straight man and scold of corporate excesses at Berkshire's annual meetings in Omaha. Bloomberg Intelligence Senior analyst Matthew Pallasola remembers Monger's special relationship with Warren Buffett. They're recalling individual meetings that they had, you know, forty fifty years ago, and Bussett is forgetting a couple of things, and Munger's reminding him of, well, this guy said that, and we said this, and we made this much money in these meetings. I mean it was, you know, truly a partnership for all of that time. And their interaction was just amazing. They would finished each other sentences, and Bloomberg Intelligence Senior analyst Matthew Pallasola there. Charlie Munger died yesterday at a hospital in California. He was a longtime resident of Los Angeles. Well Nathan, we turn to the market, specifically the economy now and billionaire investor Bill Ackman, who's betting the Federal Reserve will begin cutting interest rates sooner than markets are predicting. I think there's a risk of a hard landing if the FED doesn't start cutting rates, you know, pretty soon. So I think the market expects sometime middle of next year. I think it's more likely, probably as early as key one and Bill Lackman added that he's not convinced the US economy is headed for a soft landing. The billionaire investor made the comments in an upcoming episode of The David Rubinstein Show. Here to Beer Conversations on Bloomberg Television. Well Karen Bill Ackman's comments come as two of the fed's most hawkish rate setter signal they could be comfortable holding rates steady for now. Here's what FED Governor Christopher Waller told the American Enterprise Institute in Washington. I am increasingly confident the policy is currently well positioned to slow the economy and get inflation back to two percent. Chris Waller's view as echoed by a fellow FED governor, Michelle Bowman, who said she remains willing to support great hikes