Bloomberg Daybreak: US Edition (Bloomberg)

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 through the discount window should figure importantly into banks liquidity risk management plans under a range of scenarios and the fence. Michael Barr added that it was important that lenders have a range of options for accessing liquidity struck some corporate news now Karen. After two years of delays and production snags, Tesla has finally handed the first cyber trucks over two customers. Tesla's CEO, Elon Musk, says it has an extra safety feature. Why do you make it bulletroof? I'm like, why not? Do you want to How tough is your truck bulletproof? He says. Elon Musk says the cheapest version of cyber Truck will cost just under sixty one thousand dollars. That's more than fifty percent over the price Musk floated when he announced the vehicle in twenty nineteen. Well Nathan Disney has restored its dividend. The entertainment giant declared a dividend of thirty censorsh for the second half of its fiscal year. Disney had pledged to restore the payout, which was halted during the pandemic. Disney has been under pressure to improve its performance and restore its dividend by activist investor Nelson Peltz, who is seeking board seats at the company. Well, speaking of under pressure, Karen, take a look at Dell shares. They are down nearly six percent in early trading. A company reported revenue that declined more than expected, and it continues to see sluggish corporate demand for personal computers. And it's time now for a look at some of the other stories making news around the world. For now, we're joined by Bloomberg's Amy Moore is Amy. Good morning, Good morning, Karen. The twenty twenty three United Nations Climate Change Conference, or COP twenty eight, launched yesterday. Now before the summit began, United Nations Secretary General Antonio Guterrez warned fossil fuel companies quote their old road is rapidly aging. It's time to end our addiction to fossil fools that is validating climate change. It's time to bet on guaranteeing through strong political will, that temperatures will authorise more than one point five degrees. At the end of the center, the United Arab Emirates, which is hosting the summit, announced a commitment of thirty billion dollars to help finance climate solutions. Tens of thousands of delegates are expected to make this the biggest summit ever. It is looking likely that Congress will take the unusual step to expel one of their own. Bloomberg's Nancy Lyons reports George Santos, on the brink of being kicked out of Congress, took his fight to the House floor. I have been convicted of no crimes, mister speaker, but following an investigation by the House Ethics Committee, members said they did find some troubling behavior. Committee chair Congressman Michael Guest offered highlights of the report. It says it Representative Santos sought to fraudulently exploit every aspect of his House candidacy for his own personal profit. After the ex fulshion vote, Santos still faces a twenty three count federal indictment that alleges he stole from donors and used campaign money for personal expenses in Washington, Nancy Lyons Bloomberg Radio. The CDC is monitoring a pneumonia outbreak among children in the Cincinnati area. Warren County, Ohio has reported one hundred and forty two infections since August. The outbreak comes amid China's surgeon hospitalizations, which CDC director doctor Mandy Cohen told Congress yesterday, is not being caused by a new virus. Do not believe this is a new or novel pathogen that we believe this is all existing, meaning COVID flu RSV. Cohen told Congress. The winter cold and flu season offers the CDC a chance to regain the public's trust, and former White House Chief Medical Advisor doctor Anthony Fauci is set to testify before Congress early next year on the origins of COVID and the pandemic response by the US. This would be the first time Fauci has testified since he retired. Global News twenty four hours of and Whenever You want it with Bloomberg News Now, I'm Amy Morrison. This is Bloomberg Karen all right, Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. As Amy said, but now also as she said, you can get the latest news on demand whenever you want it. So how do you do it? You subscribe to Bloomberg News Now to get the latest headlines at the click of a button. You can get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John darn Week thirteen underway Thursday night football in Dallas with the Cowboys. We're going for a fourteenth consecutive home victory. They trailed Seattle throughout the second half until at dak Prescott touchdown passed with four thirty seven laft. Cowboys won forty one to thirty five. Prescott having an MVP type season, he threw British GIAT three hundred yard three touchdowns Gino Smith the Seahawks qv also threw for three touchdowns, all of them went to DK Metcalf, but the Seahawks have now lost three in a row. They dropped to six and six. Buffalo Bills pass rusher Von Miller was facing in arrest. The rest warrant was issued last night in Dallas. He turned himself in. He's in Dallas because the Bills have a bye week. He was arrested on domestic violence charge in a case involving his girlfriend. The NFL on the pass has flex games moved them from the Sunday afternoon to Sunday nights. Never before had they flexed the game into a Monday night. They've done that for a week fifteen. Philadelphia and Seattle were supposed to play Sunday, It'll now be on a Monday, and Kansas City, New England moved from a Monday back to a Sunday. Shows you how bad the Patriots are for the NFL. The new Patrick Mahomes off of Prime time NBA. The Warriors with the Clippers won twenty to one fourteen. Steph Curry scored twenty six, had seven rebounds, eight assists. Hockey. The Bruins had lost three straight. They came home shut out the Sharks three to nothing. Washington won it Anaheim five to four, a win for LSU that have any national Champson women's basketball Angel hes Back in the lineup scored nineteen. She had been out the last board games. John Stshawer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. The truce is over in Gaza. The seven day ceasefire between Israel and Hamas has ended. Israel is resuming combat operations after Israel said Hamas violated its agreement that has released dozens of hostages over the last seven days in exchange for Palestinian prisoners. For the latest we were joined by Rosalind Mathison, Bloomberg News Director for Europe, Middle East and Africa. Roz, thanks for being with us once again. What set off this resumption of combat, Well, basically, the truce was due to lapside of the way in the early hour this morning. What we had seen previously was that the SEASPI was rolled over for two further days, and there had been talks to try and get it rolled over again. Those clearly weren't successful, and so that the SEASPI lapsed early this morning. And what we have is Hamas and Israel both accusing the other of violating the terms of the Sea SPI, not meeting the agreements about the release of Israeli hostages yesterday, the number of those hostages, Harmas accusing Israel in turn. And now we've seen a resumption of the fighting. As you say, we saw airstrikes into Gaza this morning. We know the fighting's going on there again. Hermas says there have been casualties and wounded at hospitals already, and Israel is making clear that their goal in the end still is to eradicate Hamas, and as part of that they now see the military campaign likely moving further south in the Gaza strip. It's been quite concentrated in the north. But the messaging today, the warning to people in Gaza today is be prepared because the military is going to now push further sout. And the messaging from the US with that expectation that the war would be heading to the south, was that Israel needs to limit civilian casualties. Talk about US diplomacy, the role that's playing there, and whether that could have any impact on what we see on the ground, well, that's right. In fact, the US Secretary of State Anthony Blincoln was still on the ground in Israel when the fighting did resume. He took off shortly afterward for Dubai to attend the COP twenty eighth summit, but in his meetings in Israel, he said he made very clear to officials there that the US is concerned about the humanitarian situation inside Gaza that they're urging Israel to do everything they can to limit the impact on civilians from this war and to also uphold international humanitarian law. And that was the public messaging, so privately you can imagine it was possibly a bit stronger. I mean, you can see the rhetoric shift really from the US since the start of this in October seven, which was the Hamas attack on Israel. The US does remain strongly supportive of Israel in this, but has become more vocal in their concerns about the impact on gas. And certainly that was a message that Blinkl was delivering on the ground. And even as the fighting continues, we're hearing from Kater, which has been leading negotiations on extending the ceasefire, that there are still talks underway to bring in further pauses. Can you give us further clarity on that? Well, that's right. In fact, even when the fighting was going on before the truce, we knew those lines of communication were working quite furiously. Katar, alongside Egypt and US officials acting as go betweens between Hamas and also Israel, and a role potentially for Iran in all of that. The idea was to get towards that initial truce that we saw that lasted for seven days in the end, and Kata has been out this morning very quickie to say despite the resumption of the fighting, those talks are still going on. It is hopeful that there can be a way back to at least other temporary truce. That's because there are still Israeli hostages inside Gaza that we know, and aid agencies that hope to get more humanitarian aid into Gaza during that window which has now shut at least for now, And so Kata is saying, we're still talking about there. We're hope you can get to a point to at least have a temporary truce. But the reality in the end also Israel has made very very clear that they intend to keep fighting. Their overarching goal is to eradicate Hamas, and right now they don't see that goal as having been met, only have a minute left ros. But before the fighting began, the New York Times reported that Israel got a hold of Hamas's battle plan for October seventh, more than a year ago. Tell us more about that, well, that's right. In fact, this was also reported by an Israeli media outlet Khan Media a couple of days ago, saying that Israel did get blueprints of this plan by Hamas a year ago, but dismissed it as too difficult for Hamas to carry out, implausible, and so didn't really follow up on it. And that echoes some of what we've seen from the reporting we've done ourselves, which is really this presumption on the part of the Israeli security forces the intelligence services, that Hamas wasn't able to do something of this nature, that yes, you'd see six skirmishes go on from time to time from Gaza into Israel, but that a full throated attack was impossible, and that's why in the end they kind of missed the signals leading up to the October seven attack. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York Bloomberg ninety nine to one in Washington. Bloomberg one six to one in Boston and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Israel Latest: US Talks to Allies About Preventing War Spillover

Western countries intensified efforts to stop the Israel-Hamas war from spreading, with US President Joe Biden talking with leaders from Canada, France, Germany, Italy and the UK to strengthen diplomatic coordination.

2) Israel's Support for Hostage Talks May Delay Ground Invasion

Israel supports diplomatic efforts to get Hamas to release hostages from Gaza quickly and in large numbers, a move that could delay and possibly alter its ground war, according to people familiar with the negotiations. 

3) House Republicans Try to Elect a Speaker this Week  

House Republicans set up a nine-man contest for the speaker’s post on Sunday, signaling what may be a drawn-out vote to fill the vacancy this week.

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

• In the US – a preview of the IMF and World Bank meetings, and U.S Retail sales.
• In the UK – a look at German Chancellor Olaf Scholz’s visit to China.
• In Asia -  a look at a slew of China economic data, including GDP, Industrial production and retail sales.

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On today's podcast:

1) Ukraine peace talks between the US and Russia begin in Saudi Arabia Top US and Russian officials met in Saudi Arabia to discuss ending the war in Ukraine, without Ukraine's participation. It follows a landmark phone call between President Donald Trump and Russian President Vladimir Putin, which could pave the way for a summit between the two leaders as soon as next week.

2) 80 people survive after a Delta plane flips while landing in Toronto A Delta Air Lines regional jet flipped out of control after landing in windy, freezing conditions in Toronto, injuring 15 people, three critically. The plane, which was flying from Minneapolis/St. Paul to Toronto-Pearson International Airport, had 76 passengers and four crew on board.

3) President Trump's government efficiency push leads to more high-profile resignations President Trump's push to rein in the federal government is leading to more high-profile clashes. According to the Washington Post, the acting head of the Social Security Administration resigned over the weekend, following a dispute with Elon Musk's government efficiency team over its attempts to access sensitive government records.

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On today's podcast:
1) President Trump warns his pause on import duties on phones, computers and popular consumer electronics are just temporary. The president has exempted certain electronics from tariffs, but says it's a temporary measure and that a different tariff will be applied to the sector soon. Trump plans to announce a tariff rate for semiconductors in the coming week and is open to discussing the scope of the tariff with companies.
2) Bank Earnings continue with Goldman Sachs reporting this morning. Despite the strong trading revenue, investors are concerned about the impact of tariffs and recession fears on all of the big banks' performance, and executives are expected to continue to strike a cautious tone.
3) Jeff Bezos' Blue Origin is launching an all-women crew on its New Shepard rocket, including Katy Perry, Bezos' fiancée Lauren Sánchez, and other notable women, on a roughly 11-minute trip to the edge of space. This launch is Blue Origin's 11th human spaceflight, following recent successes and challenges, including a workforce

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On today's podcast:

1) Los Angeles Ramps Up Evacuations as Palisades Fire Grows

2) Trump’s Panama, Greenland Threats Signal Unchained Second Term

3) JPMorgan Planning to Bring Staff to Office Five Days a Week

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On today's podcast:

1) Biden Pardons Son Hunter in Reversal With Weeks Left in Term

2) Trump Weaponizing Dollar Seen as a Needless BRICS Provocation

3) S&P 500 Clocks Best Month of the Year

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we’ll be tracking for you in the coming week including tech earnings, the debt ceiling debate, European bank earnings and tourism in Japan. 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) McCarthy Says House Will Pass Debt-Limit Bill

2) Credit Suisse Big Outflows

3) Bed Bath & Beyond Bankruptcy 

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Your morning briefing. The news you need in just 15 minutes. On today's podcast:
1) Debt-Limit Talks to Intensify
2) Musk Says Tesla Will Dabble in Advertising
3) UBS Sees $35 Billion Gain on Credit Suisse 

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Your morning briefing. The news you need in just 15 minutes.     

On today's podcast: 
1) Supreme Court Rulings Under Scrutiny 
2) Apple Eyes Historic $3 Trillion Valuation 
3) Fed’s Bostic Says Leave Rates Alone 

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. 

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

• In the US - a presidential election preview and FOMC Meeting
• In the UK - Bank of England decision preview
• In Asia - Japanese autos earnings

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On today's podcast:

1) Israel Says It’s Confirmed Hamas Number Two Deif Was Killed

2) Meta’s Upbeat Earnings Buy Time for AI, Metaverse Bet to Pay Off

3) Fed On Course for September Rate Cut as Risks to Job Market Grow 

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On today's podcast:

1) Trump Sets 25% Steel, Aluminum Tariffs, Widening Trade War

President Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts to protect politically important US industries with levies hitting some of the country’s closest allies.

The tariffs will apply widely to all US imports of steel and aluminum, including from Canada and Mexico, among the country’s top foreign suppliers of the metals. The levies, which also include finished metal products, are meant to crack down on what administration officials said were efforts by countries like Russia and China to circumvent existing duties.

2) EU Says It Will Impose Countermeasures Against US Tariffs

The European Union vowed to respond to 25% tariffs President Donald Trump said the US will impose on steel and aluminum imports, escalating a potential trade dispute with one of Washington’s closest allies.

“I deeply regret the US decision to impose tariffs on European steel and aluminum exports,” European Commission President Ursula von der Leyen said in a Tuesday statement. “Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures.”

3) Altman Says ‘No Thank You’ to Musk-Led Group’s OpenAI Bid

A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

With the unsolicited bid, Musk said he hopes to return OpenAI to being “the open-source, safety-focused force for good it once was,” according to a statement. In response, OpenAI Chief Executive Officer Sam Altman posted on Musk’s X social-media platform: “No thank you but we will buy twitter for $9.74 billion if you want.”

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A magnitude-7.0 earthquake off the coast of Northern California triggered a brief tsunami warning across a swath of the US West Coast. The tsunami threat was declared over less than an hour later even as the area experienced multiple aftershocks. It was the strongest earthquake to strike the contiguous US since 2019. For the latest, hosts Tim Stenovec and Jess Menton speak with Bloomberg News Deputy Team Leader for Power and Natural Disasters Mark Chediak.

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On today's podcast:

1) The world’s debt market is on track to post its biggest two-month gain on record as traders ramp up expectations that central banks everywhere will slash interest rates next year.

2) Apple Inc. said it would put its latest smartwatch models back on sale in its US retail stores Wednesday after it won a court ruling in a patent fight, providing a quick reprieve for its $17 billion business.

3) One of Cathie Wood’s exchange-traded funds has executed a massive shake-up in its Bitcoin-related holdings as the cryptocurrency rounds out a blockbuster year.

Full transcript: 

Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today, the massive year and rally in bonds. In fact, the world's debt market on track to post its biggest two month gain on record. Bloomberg's Cretigoda has more other reasons behind the move. It's a complete when eighty in the markets. As investors around the world become more and more confident that inflation is actually in the rare view mirror, it's creating a massive bet in the bond market that is really unseen historically. The momentum that you're seeing in just the last two months has really created this idea that maybe you might see rates go even lower in twenty twenty four, not just from the Federal Reserve, but from market participants as well. Swaps, the measure through which traders make bets on the Federal Reserve and other central banks around the world, well, they're pricing about one hundred and fifty basis points of rate cuts right here in the United States and the UK next year. It's almost one hundred and seventy five basis points in the Eurozone. As investor confidence bills, the central banks have done their job, RIGHTO brigs Quitty Goop, who says the Bloomberg Global Aggregate Total return indexes risen nearly ten percent over November and December. Well, we turned to equities now, John, and European stocks are hovering near a two year high after the rally seen across Wall Street in Asian markets, and we go to London and get the latest with daybreak, europe banker Stephen Carroll, Stephen, thanks, Karen and John. European markets started out the day with gains, but that positive sentiment has petered out for now. The stock six hundred has dipped into the red, along with the benchmarks in London, Paris and Frankfurt. Energy among the worst performing sectors, Oil majors falling as crude prices retreat. Now, trading volumes across Europe are less than half their thirty day average, but the European benchmark is up almost thirteen percent this year, and it's still hovering at its highest level since January twenty twenty two. In London, Stephen Carrol Bloomberg Radio, all right, thanks Steven. Oil retreating from a one month high. Traders say key technical gauges their flashing weakness amid thin holiday trading, supply risk posed by Yemen based hoothy rebels haven't abated, even as incidents in the Red Seas start to slow down. The shipping giant hapag Lloyd says it will keep its vessels away from the Red Sea, despite the launch of a US led task force to protect the key trade route. Sylvia Westall is Bloomberg's managing editor in the Middle East. This idea of having a protection for shipping in this region, it actually already exists, as actually already forces based there. So I think some of the companies are a bit confused as to what it will really entail. Bloomberg's managing editor, Sylvia Westall says spot rates for a container shipping have jumped twenty six percent over the past four weeks. As we check Brent Crue, the international benchmark, it is down thirty one cents at seventy nine thirty four a barrel, and John Bitcoin is about forty three thousand dollars. It's been quite a run for the cryptocurrency we get more with the Bloomberg's Eddie Vanderwald prices went up from about sixteen thousand in the end of last year to more than forty three thousand at the moment. That's a rally of one hundred sixty percent, which you know, in bitcoin land is not uncommon. We do see these big up moves, but usually that is you know, associated with a lot of excitement and a lot of media attention and so on. We haven't seen that this year. What we are seeing though, is as the expectation of lower rates in the US and elsewhere probably comes to fruition. Next year, money becomes cheaper and there's more speculative money around, and some of that can flow into into assets like bitcoin, and Bloombergy Eddy Vanderwald says optimism over our possible sec approved bitcoin ETF is also helping fuel gains. Meanwhile, Caaren Well Kathy Woods Exchange Traded Funds has executed a massive shakeup in its bitcoin related holdings. More from Bloomberg's Jeff Bellinger. The Arc Next Generation Internet ETF sold all of its remaining shares of the Grayscale Bitcoin Trust, according to data compiled by Bloomberg, and on the same day, our investment management data show that it bought more than four point three million shares of pro Shares Bitcoin Strategy ETF, making it the fund's second biggest holder. Wood has been trimming her holdings in the Grayscale Bitcoin Trust in recent months, even as bitcoin rose to its highest levels since April of twenty twenty two. Jeff Bellinger Bloomberg Radio, All right, Jeff, thanks well. Apple putting its latest smart watch models back on sale and its US retail stores a's after it went accord ruling pausing a US sales ban on its newest models. Mark German covers Apple for Bloomberg in California and sin So, what happens now the Apple stores in the US did, about two hundred and seventy of them began resuming sales of the Series nine and Ultra TiO that are at the very center of this patent dispute with Massoow Thursday about noon Pacific time, the Apple Watch Ultra TiO in series line will return to the online stores. You could buy the model that you'd like from their online store and then staring on Saturday, all Apple stores in the US nationwide will begin car the alteratt series sign again, and Bloomberg's Mark German says the ruling now buys the company sometime and it's ongoing patent dispute with medical device maker Massimo. In geopolitical news, the Biden administration that is announced to another aid package for Ukraine. Bloomberg's Baxter has the story. It is two hundred and fifty million dollars in weapons and equipment and the final package of the year. It's drawn from Pentagon stocks, including ammunition for artillery and air defense systems, as well as anti armor munitions and more than fifteen million rounds of small arms ammunition. The DoD as well says that Javelin anti tank systems and Stinger Ata aircraft missiles will be offered. Secretary of State Anthony Blinken, in a statement, said it is imperative the Congress act swiftly to advance our the US national security interests by helping Ukraine defend itself. Ed Baxter Bloomberg Radio. All right, John, thanks time now for a look at some of the other stories making new around the world. And from that we're joined by Bloomberg's Amy Morris Samy. Good morning, Good morning, Karen. A coalition of mayors is asking the federal government to provide more support to manage the influx of migrants arriving by bus or plane from Texas. Mayors from New York City, Denver, and Chicago all say they need help as Texas Governor Greg Abbott sends more migrants to Democratic led cities. Chicago Mayor Brandon Johnson all of our cities have reached a point where we are either close to capacity or nearly out of room. Without significant intervention from the federal government, this mission will not be sustained. In addition, New York City Mayor Eric Adams has issued an executive order which requires thirty two hours notice from charter bus companies transporting migrants to the city. President Biden is justifying US attacks on targets in Iraq. Bloomberg's Nancy Lyons reports. In a letter to congressional leaders, President Biden says that Christmas Day attacks on three installations linked to an Iran backed insurgent group were necessary to prevent further attacks on US military personnel. Biden writes that the strikes were intended to quote degrade, and disrupt attacks on the US and its partners, and to deter Tehran's proxy forces from conducting further attacks. The US and its allies are trying to keep the Israel Hamas conflict from escalating into a broader war. In Washington, Nancy lyons Bloomberg Radio residential candidate Nikki Haley is refusing to say that slavery led to the Civil War. During a New Hampshire town hall yesterday, a voter asked Haley what was the cause of the Civil War, and the former South Carolina governor and ambassador to the UN gave a lengthy response about the role of government and the rights of the people, but she never mentioned slavery. What do you want me to say about slavery? I love, argued my question. Next question, the voter who asked the questions that he found it astonishing slavery wasn't even mentioned. US Representative Lauren Bobert says she's changing districts in Colorado. It's the right move for me personally, and it's the right decision for those who support our conservative movements. Alberta Republican announced on Facebook she'll move to the fourth congressional district, trying for the seat vacated by Ken Buck, who won't be seeking reelection. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm Ami Morris. This is Bloomberg Karen right Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand, and that means whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines at a click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's Dan Schwartzman. Dan, Good morning, Karen Stunner in Denver. As the Broncos have decided that nine time Pro Bowl quarterback Russell Wilson will be benched starting a Sunday's game against the LA Chargers, Jared Stidham will get the start. Head coach Sean Payton says it's all about getting a spark on offense, rather than get into the specifics, because I think that would be unfair today. It's more about what we're We weren't doing effectively enough offensively, and you know, when we were getting two or three turnovers. It's one thing, but you know. Ultimately our job is to get the ball in the end zone, and we've got to be more efficient doing that, all of us. That's Curtisyebroncos dot Com. Wilson starts the first year of a five year, two hundred and forty two point six million dollar extension next year at thirty nine million bit guaranteed for twenty twenty four. If Wilson can't pass a physical in early March, thirty seven million more will be guaranteed. Week seventeen of the NFL season gets under way, the Jets on the road in Cleveland facing the Browns. Cleveland is ten and five, Jets come in at six and nine. Trevor Simeon gets a star for New York Joe Flaco. He is a quarterback for the Browns. The finalist for the Pro Football Hall of Fame class at twenty twenty four half in announced. First time candidates include Julius Peppers and Antonio Gates. In the NBA, the Philadelphia seventy six ers remain hot. They knock off the Magic in Orlando one twelve to ninety two. Meanwhile, Milwaukee a big one forty four to one twenty two win over the Brooklyn Netsianna Santa Tocompo thirty two points, ten rebounds and eight assists. That's your Bloomberg Sports Update. I'm Dan Schwartzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias, exam, the Bloomberg Business app and Bloomberg dot Com. This is Bloomberg day Break, and I'm John Tucker. Good morning. The world's bomb market on track to post its biggest two month game on record. Meantime, SMP five hundred flirting with a record. Let's get you set up for the trading day ahead. We're joined now by Tim Craighead Bloomberg Intelligence Senior equities strategists. Hey, equities guy, Let's start off with Yeah, the debt market. Investors seem convinced central banks have won their battle against inflation. What could possibly go wrong? Tim, Well, I'll tell you it's very apropos to start off with a bond market if you're talking talking about stocks, because that's what striving stocks right now. There is no doubt about it. To the degree that we've seen, whether it's US, whether it's Europe, around the globe, a big rally since late October he had equities. It's all about bond markets. And if you look at expectations of central bank policy and use the FED as the bell weather, we've gone from expecting no rate cuts over the course of the next six to twelve months to where now you're looking at fifty basis points in six months and one hundred basis points in a year. And this is the issue. John. If this doesn't play through, if we have a change in reference for some inflation spike or something along those lines over the course in the next month or two, then this run we've had into year end across all asset classes is due for one of these abrupt, volatile changes like we saw a couple of times in twenty twenty three. That's the risk. Hey, looking back on history, how unusual is it to see bonds and equities rally at the same time and what does that indicate. It is interesting in that if you look whether it's in the post pandemic period where you can really dig into this microscopically over or longer term, quite often you do see one versus the other. And it's the same in the equities market, where you see either earnings driving equities, or you see valuation driving equities, and you know the corollary there is valuations quite often in stocks are driven by what's transpiring and interest rates. And you know the point that you're making here, it is unusual. We've seen stocks and bonds rip over the course of the past two months, and granted we're from a depressed level where you remember back into the depths of the cell off in October, it was all about uh longer for a higher for longer from a from a policy rate standpoint, and then all of a sudden we started seeing better inflation prints and that whole psychology changed, which allowed the run up in bonds, which allowed the run up and valuation. You look at the pe on either US or European markets and they've they've ramped up a couple of points. That's a big move, and it's all because of the change in bonds. So I think you can find narrow points of time like this where you see a big swing and interest rates that does have an immediate impact in the equities market. And it's all about the valuation connection, all right, specific to equities, what right now is the bar for earnings moving forward? It's a pretty low barrow, I would imagine in the US. Yeah, and I think you're right, and it is a difference between the US and the European markets. From a US perspective, we had an earnings recession through late twenty two into first half of twenty three, and we've started to see positive revisions coming over the last six months as we went through the mid year earning season into the third quarter reporting season, and estimates are still ticking up in the US. If you look over here where I'm at in London and Europe, we actually had much better earnings performance over the course of twenty two into the first half of twenty three. You'd be surprised. If you look to the chart on forward earnings expectations for Europe versus the US. Europe far outperformed over the course of the last eighteen months, but the last three months it started to change. We've had negative estimate revisions here in Europe and that's likely to continue into the next year. We think that's a big risk factor for the first half of the year where we are seeing a tick up in the US, and a lot of that's because of the TMT space, which was really the cause of the earnings, recession in the US starting to actually come alive, and we don't have that crutch. Here. You're listening to Bloomberg Daybreak today, your morning brief. The story is making news from Wall Street to watch Hington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one O six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XM, thee iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak. He

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

• In the US – a look ahead to U.S Retail sales and earnings from Netflix.
• In the UK – a look ahead to next week’s ECB meeting.
• In Asia – a look ahead to earnings from TSMC.

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On today's podcast:

1) Nvidia Corp., the chipmaker at the center of an AI spending boom, delivered good-but-not-great quarterly numbers on Wednesday, drawing a muted response from investors accustomed to blowout results.

2) Chief Justice John Roberts temporarily let President Donald Trump keep freezing foreign-aid payments while the US Supreme Court weighs whether to lift an order that would require disbursement of as much as $2 billion.

3) Two-time Academy Award-winner Gene Hackman and his wife were found dead at their New Mexico home on Wednesday, the BBC reported, citing local police.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
•    In the US – a preview of US March jobs and a look at the potential impact of auto tariffs. 
•    In the UK – an assessment of NATO's position amid growing global tensions.
•    In Asia – a preview of the Reserve Bank of Australia's next rate decision. 

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In this Memorial Day Edition of Bloomberg Daybreak:

We take a look at markets and inflation's impact on equities with Alicia Levine of BNY Mellon and Invesco's Brian Levitt

We check in on the strength of the US economy with Bloomberg's Michael McKee and Anna Wong. 

Plus, we get some travel tips for the summer with The Points Guy, Brian Kelly. 

Hosted by Nathan Hager

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Your morning briefing. The news you need in just 15 minutes.

On today's podcast:

1) Biden, McCarthy Vow More Debt-Limit Talks

2) George Santos Faces Criminal Charges

3) Trump Liable for Sex Abuse 

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Nvidia, the chipmaker at the heart of the artificial intelligence boom, gave a revenue forecast that fell short of some of the most optimistic estimates, stoking concerns that its explosive growth is waning. Bloomberg Businessweek hosts Carol Massar and Tim Stenovec talk with Bloomberg Technology co-host Ed Ludlow and Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani for instant reaction and analysis for Nvidia's earnings results. 

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On today's podcast:

1) President Trump promises golden age but warns tariffs could cause disturbance, President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain. The president touted his tariff moves as effective in bringing jobs to the US, threatened to impose new tariffs, and announced plans for domestic energy production and an office of shipbuilding at the White House.

2) Trump calls for a repeal of the Chips Act. The president touted his tariff moves as more effective at bringing jobs to the US than Biden’s efforts, which included the Chips and Science Act and its billions in subsidies to spur domestic semiconductor manufacturing. Trump urged lawmakers to eliminate the Chips Act and said he would not give chipmakers any more funds from the law.

3) Job cuts are on the way at Disney. The Walt Disney Company is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo. The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/20 and Nightline will be consolidated and the impacted employees will be notified on Wednesday, according to the memo.

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On today's podcast:

1) Schumer Says Shutdown Risk Remains With Funding Deal Elusive

2) Netanyahu Says He’ll Soon Have Action Plan for Rafah Civilians

3) Koch Network to Stop Funding Haley in Blow to Her 2024 Bid

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On today's podcast:   
1) Wall Street gets back to trading on a holiday shortened week   
2) President-elect Trump names an ambassador to Panama as he accuses the country of ripping off the US   
3) Israel and Hamas trade accusations as ceasefire negotiations continue

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On today's podcast:
1) Trump Says No Dimon in Administration, Picks Kennedy for Cabinet
2) Stocks Slide as Fed Rate-Cut Bets Pared Back
3) NYC Congestion Pricing Plan With $9 Toll to Start in January 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Last-Minute US Shutdown Deal Unlikely

2) Trump Rivals Attack Each Other But Fail to Shake His Dominance

3) Micron Is Set to Drop on Forecast for Worse-Than-Expected Loss 

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Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Apple and Intel. They speak with:

• Bloomberg News Technology Reporter Jackie Davalos
• Angelo Zino, Senior Equity Analyst at CFRA Research
• Bloomberg Technology Co-Host Caroline Hyde

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:

1) The Trump-Harris race enters its final week with candidates making closing arguments

2) Bitcoin jumps as the election nears

3) Goldman Sachs CEO David Solomon discusses election and the US economy 

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In this bonus episode, Federal Reserve Chair Jay Powell speaks with David Rubenstein, in a conversation at the Economic Club of Washington on February 7, 2023.

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Tesla surpassed Wall Street estimates for earnings in the third quarter, reflecting a rebound in demand for the company’s electric vehicles.The EV maker also said it expects to achieve slight growth in vehicle deliveries for the full year. For instant reaction and analysis, hosts Tim Stenovec and Katie Greifeld speak with Gerber Kawasaki Wealth Management CEO Ross Gerber and Bloomberg Technology cohost Ed Ludlow. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week:

• In the US – it's the start of earnings season and the Archegos trial goes to jury
• In the UK – we look at the challenges facing new Prime Minster Keir Starmer
• In Asia – we will preview China's trade and CPI/PPI data

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Listen to today's top stories, with context, in just 15 minutes. Subscribe and rate our podcast here:

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Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking for you next week including the coming US inflation data, what the Bank of England will do next, President Biden and the debt-ceiling showdown, and how AI is sweeping through Asia.  

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The “America First” trade is unraveling in the sweeping turmoil in global markets, with stocks acutely exposed to the US economy sinking alongside the dollar. As Wall Street’s rebellion against Donald Trump’s tariff war intensifies, traders are rushing into fixed-income havens.

About $2 trillion was erased from the S&P 500, with the gauge down about 5%. The Russell 2000 of smaller firms extended its plunge from a 2021 all-time high to 20% on speculation the president’s trade offensive will stunt the American economy. The greenback slid 1.5%, reigniting the debate about its haven reputation during challenging times as the euro, yen and Swiss franc surged. Oil joined a selloff in commodities.

All in, the much-vaunted America-first trade — buying up assets that win when the US outperforms the rest of the world — is reversing on concern that the steepest increase in American tariffs in a century will hammer economic growth.

That’s driving a fierce rally in global bonds, sending the yield on benchmark Treasuries briefly below the closely-watched 4% level. Most other yields also tumbled as money markets priced in a 50% chance of the Federal Reserve delivering four quarter-point rate reductions this year.

Trump has embraced tariffs as a tool to assert US power, revive manufacturing at home and extract geopolitical concessions. Economists say the near-term result of his measures will likely be higher US prices and slower growth, or perhaps even a recession.

Listen for comprehensive coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Carol Massar and Tim Stenovec.

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On today's podcast:

1) Macron Asks French Lawmakers Not to Topple the Government

2) South Korea’s Opposition Submits Impeachment Motion Against Yoon

3) Trump Mulls Replacing Hegseth With Florida Governor DeSantis

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Trump Fourth Indictment Lays Out Sweeping Georgia Election Plot

2) China Cuts Rate by Most Since 2020 as Economic Woes Deepen

3) Buffett’s Berkshire Cuts Activision, Unveils New Homebuilder Bet 

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

• In the US – a look at what the Federal Reserve accomplished in 2024 and what to expect in 2025.
• In the UK – a look at what's on the horizon for Europe's stock market.
• In Asia – a look at some of the potential themes for Asian markets in the year ahead. 

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On today's podcast:

1)  Israeli struck outpatient clinics of Al-Shifa Medical complex in Gaza City, Palestine Authority radio reports. The Israeli military has said that Hamas’s main military headquarters is located underground near Al-Shifa and has told the hospital to evacuate patients.

2) Federal Reserve Chair Jerome Powell said the US central bank will continue to move carefully but won’t hesitate to tighten policy further if needed to contain inflation.

3) West Virginia Senator Joe Manchin announced Thursday he won’t seek reelection, a blow to Democrats’ prospects for keeping the Senate majority in 2025.

4) Industrial & Commercial Bank of China’s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. That forced ICBC to send the required settlement details to those parties by a messenger carrying a thumb drive as the state-owned lender raced to limit the damage.

5) Chicago Bears take down the Carolina Panthers in Thursday Night Football

Full transcript: 
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, the latest on the Israel Hamas war. Israel says it's struck back at an organization from Syria. The target at a school in the southern city of Ailat with a drone. Meanwhile, the White House is confirmed Israel's agreed to four hour daily humanitarian pauses in northern Gaza to allow civilians to flee, but Mark Regev, who advises Israel's Prime Minister, says it's not a ceasefire. We will continue this operation until we have destroyed Harmasa's military machine. The idea of a humanitarian pause is in a specific place, for a specific time, to help the civilian population who are not the target of our operation on the country. We want to see the move out of Hamsway. That was Benjamin Natanyahu advisor Mark Regev meantime. A short time ago, Palesidine Authority Radio reported that Israel's forces struck outpatient clinics of a medical complex in Gaza City. Israel's military says the main military headquarters of Hamas are located underground near that hospital, and had they told the hospital to evacuate patients, well, Nathan, we turn now to news that still making waves in Washington. A Democrat, Joe Mansion of West Virginia, stepping away from Capitol Hill. I will not be running for re election to the United States Senate, but what I will be doing is traveling the country and speaking out to see if there is an interest in creating a movement to mobilize the middle and bring Americans together. Senator Manchin is an honorary original honorary co share of No Labels, the centrist group that's now working on a possible third party presidential campaign. Bloomberg's Wendy Benjamin Sin has more from Washington. If he does go for an independent or third party run, that's going to make it very, very difficult, because the people who feel that Biden may have gone too far to the left, or is too old, or all the other things are looking at this guy a true old soele conservative Democrat. Bloomberg's Wendy Benjamin Sin notes mansion still has eleven point three million dollars in a Senate reelection campaign that he could use in a presidential run. Well, politics has Washington's focus. Karen Summer, President Biden's cabinet have headed West Finance. Leaders of the US and China have begun talks setting the groundwork for the Biden she meeting next week at the Asia Pacific Economic Cooperation Summit. Bloomberg's Ed Baxter has the story from San Francisco. Treasury Secretary Janet Yellen meets again today here in San Francisco with Chinese Vice Premier Hu LaFong. She is saying the US has no design to break economic ties with China, but these two day meetings are aimed at making progress on a slew of economic issues before the heads of state sit down. China's main concerns in the supply chains in high tech, the US focusing on fair competition in tech, as well as freedoms and the issue of Taiwan. In San Francisco, I'm at Baxter Bloomberg Radio. All right, ed, thanks, So we turned to the markets now, and stocks are coming off their first drop in eight sessions. That declines came after FED Chair J Powell warrant interest rates may have to climb further. If it becomes appropriate to tighten policy further, we will not hesitate to do so. We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data and the risk of overtightening. On the same day Powell spoke, Richmond FED President Thomas Barkin said the US economy still has not felt the full effect of past interest rate increases. I think there's more lag to come from hikes. I'm not sure that you know that's everybody's view, but that's that's certainly my view. I also believe that there's inflation is going to take longer to settle than the more optimistic forecast that you might see. And the economy is also in focus in Europe. The UK economy flatlined in the third quarter, defying forecasts of a small contraction and ensuring a recession is avoided this year. GDP was unchanged from q two. Economists surveyed by Bloomberg forecast a tenth of one percent decline on average. Well. In other news this morning, Nathan the world's largest bank, has been hit by a cyber attack. The incident caused the US unit of the Industrial and Commercial Bank of China to reroot some treasury trades and may get more from Bloomberg's reshound Salamad in Hong Kong. The hack forced clients to reroot transactions. A large number of trades in US treasuries were prevented from being cleared. It left brokers and traders scrambling to US as the extent of the impact of the cyber attack. There are reports of liquidity being affected, and speculation continues to mount that the issues were a cattle for a very poor oaction of thirty year bonds. So to say, ICBC allerted clients that trading was being impacted. ICBC as seti hight cybersecurity for a mandant and has been offered assistance from the FBI in Hong Kong. I'm Rishard Salomit Bloomberg Radio Oka, rish thank you staying in Asia. The final day of the Bloomberg New Economy Forum in Singapore has wrapped up. Climate change was a major focus. We caught up with US Special Presidential Envoy for Climate John Kerry. People are well aware of how critical the situation is. Mother Nature has been sending us massive messages in the last years. We know we have to reduce the emissions. We know that the costs of not doing so will be much greater than the cost of doing so. And Special Climate Envoy John Kerrey praise the Inflation Reduction Act for attracting green investment to help fight climate change. Well, Nathan, let's check out some stocks on the move this morning. Shares a Biagio down more than eleven percent, the maker of Johnny Walker and Smeirnov Vodka issuing a profit warning because of a steep slowdown in Latin America. Shares of Plug Power They're plunging down more than twenty nine percent in early trading. The company reported revenue well below estimates. S and P futures are little changed right now up a point. Futures up two tents of one percent, a gain of sixty points. In NASTAC futures are lower by two tenths of one percent. That's a decline of twenty seven points. Tenure Treasury is down three thirty seconds, for a yield of four point sixty three percent. This is Bloomberg. All right, Nathan, thanks time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker. John, Good morning, Good morning, Karen. The FBI investigating potentially deadly attacks on election offices in five states, bombing some letters laced with fencanyl. The letters were sent to Nevada, California, at Georgia, Oregon, at Washington State. The Fulton County, Georgia Board of Commissioners chairman is Rob Pitts. Crazy people out there who will go to any extreme to disrupt, interrupt, fair, open, transparent elections in our country and specifically here in Fulton County. Officials are calling it domestic terrorism. They're only seven days until the government could face yet another shutdown. More in that story from Washington and Bloomberg. Steve Potis Congress needs to approve a budget that would keep the government funded through the rest of the year, but there are already some divisions among Republicans as to how that may happen. Democrats also say they wouldn't accept certain cuts to social programs, and the White House says that some of the bills Republicans are proposing would cut funds to law enforcement. White House Deputy Press Secretary Olivia Dalton says the time is running out and House Republicans should stop playing political games and follow the lead of the Senate by getting to work on bipartisan bills. Steve Potisk Bloomberg Radio. President Biden was in the Illinois Thursday congratulating union auto workers taking a victory lap after they won a new contract. The President reminding those workers he joined them on the picket line, and Donald Trump did not. I stood and other stood with his shoulder and shoulder on that picket line. My predecessor went to a non union shop and attacked. I hope you says, so. I hope you guys have a memory where I come from. It matters. Mister Biden was the first president in history to join workers on the picket line. The nation's first openly gay governor, looking to re enter politics nearly twenty years after he left former New Jersey Governor Jim McGreevy, announcing Thursday he'll seek the mayor's office in Jersey City in twenty twenty five. He announced in August two thousand and four he was a gay American and acknowledged having an extramarital affair with the male staffer he resigned that year. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm John Tucker, and this he is Bloomberg Karen. All right, John, thank you well. We bring you news throughout the day right here on Bloomberg Radio. But now as you can get the latest news on demand whenever you wanted, subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com, plus Apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stash Hour, John Karen. The Thursday night game to kick off Week ten in the NFL. Not much of a game. Carolina Panthers have only won once all season. Chicago Bears came in having won only twice. Panthers got a seventy nine yard aquartment through the first quarter, but it is their only touchdown, and the Bears got one in the third quarter to take their first lead. Chicago won sixteen thirteen, and this helps the Bears get the first pick of the draft because they own Carolina's pick as a result of the trade of the two teams swung just before last year's draft when the Panthers moved up, and we're able to get the first overall pick and take quarterback Pryce Young NBA in Mexico City. Good one. We treated Atlanta and Orlando gray seabasket. Craig goes underde Ls at the corner. Dejante Let's take away just three Foma books take the lead ten twenty tenswoey tea that the final Hawks radio the Caltre Young forty one points in the victory. Gianna's Sun to the Cup reported in fifty four points but had two late turnovers, and Milwaukee blew a ten point fourth quarter lead and lost at Indiana one twenty six till one twenty four Celtics are home tonight to play in the Brooklyn Nets. The Wizards host Charlotte. The Warriors don't play until Saturday, when they take on Cleveland. Bruins. Hot Start continues the hat trick for Charlie Coyle in a five to two win over the New York Islanders. Rangers Hot Start with their tenth win. They beat Minnesota four to one. Connor Bdard, the young star for Chicago, two goals to assist his best game. Blackhawks beat Tampa Bay five to three. The player of the air at women's college basketball, Caitlin Clark forty four points in Iowa season openings win. John Stanshaware Bloomberg Sports, Karen all right, John, thank you well. Straight ahead on Bloomberg Daybreak, we're going to get the very latest out of Israel. We'll be speaking with the Bloombergs Kalite Allstein in Tel Aviv. And ahead of that conversation, SNP futures are little change down, futures up a tenth of up percent. NASDAK future is down two tenths of up percent. Ten year treasury down four thirty seconds, the yeal four point sixty four percent, and the yield on the two year is at five point two percent. Nimex screwed oil up eight tenths of up percent. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We want to get you caught up now on the war in the Middle East. We've seen more strikes into Syria as Israel continues its advances on Hamas in Gaza, and Israel's military now says it has agreed to quick humanitarian windows to allow people to flee the fighting in northern Gaza. For the very latest, we are joined now from Tel Aviv by Bloomberg News Economy and Government reporter for Israel, Kalie alstein Ghalid. Thanks for being with us. As always, I want to start off with this latest report that we're hearing, I think from Palestine Authority Radio about Israeli strikes on an out patient clinic in Gaza City. What more do we know? All right? Hi, Good morning, Nathan, so on the ground in Gaza Israeli army, as we know, has been operating at the heart of Kaza City over the past several days, and now we have been hearing more and more reports from the Palestinian side that some of these Israeli forces are approaching hospitals. So, as you mentioned, we heard the report from the Palestinian Authority radio that says that dozens were killed and wounded from an Israeli strike on outpatient clinics at Al Shifa Medical Complex in Gaza City. And we also hear Hamas saying that there are Israeli tanks in the vicinity of three different hospitals in northern Gaza, and these are different hospitals, Alvan Tisci, Al Nassel and Al Ajun Hospital, and the director of one of these hospitals, the Children's Hospital, issues a comment saying we've been surrounded in the hospital since yesterday and IDF vehicles are stationed around the hospital. We cannot provide even the slightest medical services, so that's what this hospital director is saying. Now, all these statements have not yet been confirmed by the IDEF, but I think we can probably definitely not probably expect more to come on that. But the Israeli military has said made some comments about potential targets in that area. What is the Israeli military saying about that? So, the Israeli military has been saying for a while that Hamas command centers are positioned underground beneath some of these hospitals. They've mainly focused on Al Shifa Hospital, and they've also presented some evidence the idea that they said was back by the US and the UK intelligence agencies. They've shown evidence that command centers of Kama's opposition beneath Al Shifa Hospital, and they say this is not the only hospital where this is happening. So that is why we are getting these reports of army, Israeli army forces surrounding these hospitals probably and this is coming after Israel's military confirmed US reports that there was an agreement on humanitarian windows in the fighting. What more do we know about that? Right? So, I think we're basically seeing a similar dynamic over the last couple of days with Israel providing humanitarian windows to allow people to flee in northern Gaza, and the IDF estimates that between fifty to one hundred thousand people have exited northern Gaza, over the last few days, with the total of almost some nine hundred thousand leaving the area since fighting began. And this is an area that usually occupies more than a million people, so that would mean that most people, according to the Ideas have left. At the same time as these people moved to the safe zones in the south of Gaza, we still see a modest number of eight trucks, that's how the UN describes it coming in from Egypt sixty five days. Trucks came in yesterday and the need is for at least one hundred trucks some day. That's what the UN said. And I think another interesting point to mention Nathan on what's coming and how long this fighting will take. We hear something on that from Israeli Prime Minister Benjaminitaniao who gives them an interview to Fox News tonight, and he says, well, it has taken a little longer than I had hoped, and he explained that this is taking longer on account of battle conditions on the ground and the safety of Ideas troops that Israel is obviously concerned with, and also getting out the hostages that they're in there. And he does admit that this is affecting the time that this operation is taking and just quickly about last thirty seconds scale. Does this say anything these comments from Nats on Yahoo about the impact that diplomacy has had on the Israeli side, Well, you know, Nathaniel denies that that Israel's agreed to any kind of ceasefire, so that hasn't been agreed upon yet. He also talks about these humanitarian fathers and he does give us a hint on the very interesting question of what will happen in the day after, and this is also associated with diplomatic talks, and he says that we'll have to find a government, the civilian government that will be there, but in the foreseeable future, we will have to make sure that this doesn't happen again. He is referring to the ectoty seven attacks. So we have to have a credible force that, if necessary, will enter godt the killers. That's from what he calls you, Homas Wilson. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify and anywhere else you get your podcasts. You can also listen live each morning, starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak. He

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On today's podcast:

1) OpenAI co-founder Sam Altman is joining Microsoft to lead its AI effort after the board replaced him with Twitch’s ex-CEO, a stunning reversal for the widely respected tech-evangelist who helped jumpstart the artificial intelligence boom.

2) Israeli forces engaged in heavy fighting with Hamas in the northern Gaza Strip overnight as the US said it was optimistic about a deal to free hostages held by the militant group.

3) Elon Musk railed against “bogus” media reports accusing him of antisemitism, issuing his strongest response yet after endorsing antisemitic content in a post on X that provoked outrage and alienated advertisers like Apple Inc.

4) Rosalynn Carter, who broke new ground as an activist US first lady by attending her husband’s Cabinet meetings and leading a presidential effort to improve care for the mentally ill, all while raising a young daughter at the White House, has died. She was 96.

Full Transcript: 
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with a wild weekend in the world of artificial intelligence. Less than seventy two hours after he was ousted at OpenAI, the company behind chat GPT, which he helped to create, Sam Aldman has now been hired by Microsoft. He's going to lead Microsoft's new in house artificial intelligence team. Bloomberg Original's host A Zimazhar, author of AI newsletter Exponential View, says Microsoft CEO Satya Nadella didn't waste time nabbing old men. Satya has moved very quickly to shore up the commitments he has made to his customers. Microsoft has made a big bet on open ai, and the technology was now powering so many Microsoft products, including their most premium office Suite through the co pilot that was sort of part supported by OpenAI. So I think this is a very very rapid move on his part to ensure that Microsoft can continue to be a leader in developing and deploying AI systems for enceerprises. Bloomberg Original's host A zim Oshar says Greg Brockman and open ai co founder who also left, is going to be joining Altman at Microsoft as well, and right now shares of Microsoft are hire by two and a half percent in early trading. Well, Nathan Altman was fired on Friday after the board of open Ai said they lost confidence in him as a leader, and Bloomberg's Rachel Metz says open Ai offered few clues as to the reasons for the departure. Open ai leadership has put out memos internally at the company, saying that the board hasn't said that there was any quote mal season or anything like that, so it's not totally clear what the board was initially even accusing him of doing when it got rid of him, and Bloomberg's Rachel Metz says open AI's board hired former Twitch chief Emitted Sheer as chief executive. Microsoft CEO Sunny and Adela said his company looks forward to working with Sheer and remains admitted to the open Ai relationship. Well Karen, Another big name in tech is in the news this morning for a very different reason. Elon Musk is defending himself after an anti Semitic furor has deepened. More on that this morning from Bloomberg's John Tucker, John and Nathan Musk posted on x that he is not anti Semitic and he wishes only the best for humanity. A backlash erupted last week after the head of Tesla and AX agreed with a post that said Jewish people hold a dialectical hatred of white people advertised there's like Apple and Walt Disney pulled away from Max. What we used to know is Twitter. The Financial Times Meantime reports that advertising executives privately urged X CEO Linda Yakarino over the weekend to resign in order to save her reputation. A Musk is a track record of promoting hate speech, but not everyone is abandoned Musk. Hedge fund manager Bill Ackman was among those who leapt a Musk's defense. I'm John Tucker, Bloomberg Radio, Right, John, Thank you now. To the latest. In the Middle East, the White House says a deal is as close as it's ever been for Hamas to release hostages in exchange for Israel foreing Palestinian women and children from its prisons. Deputy National Security Advisor John Finer says the agreement could involve a multi day pause in the fighting in Gaza. That would first and foremost enable the hostages to actually be released safely, but that would also make it much easier to both bring humanitarian assistance into Gaza and also distribute that assistance. John Finer at the White House spoke on ABC's This Week Heard Sundays on Bloomberg Radio. Israel also released video of a tunnel chef near the Alshifa Hospital in Gaza City. Rear Admiral and Daniel Hungary with the Israel Defense Forces says it proves Hamas used the facility as a command center. Hamas was hiding and murdering our hostages in Shifa Hospital. Hamas was building terror tunnels underneath Shifa Hospital. Israel's government also says around back who he wearbules and Yemen hijacked a cargo ship in the Red Sea, being a key global shipping route elsewhere globally. In Argentina, Karen libertarian outsider Javier Malay will become the country's new president. Malay's promising a radical shakeup to fix decades of policy mismanagement. Speaking to crowds in Buenos Aires, the president to like to stress the need for immediate action, promise the situation in Argentina is critical. The changes that this country needs are drastic. There's no room for gradual measure, and there's no way to say it. Long lived freedom. Javier Malay spoke there through an interpreter and also highlighted Argentina's critical economic condition in that address to supporters. Markets in Argentina are close today for public holiday. Well Nathan, the world mourning the loss of former First Lady Rosalind Carter, and Bloomberg's Ed Baxter has more on the passing of the wife of former President Jimmy Carter. Rosalind Carter has been a tireless humanitarian both during the administration and then after, also a mental health advocate of the First Order. Two years ago, she was asked what makes a happy marriage. She says, many different things, but trying to make each other happy every day and do things together. We're always looking to do things for fine things we can do together. She has been at hospice care. At Baxter Bloomberg Radio, All right, Ed, thank you, Let's get you caught up on some corporate news this morning. We're watching shares of bay Or. They are plunging more than twenty percent. The German pharma and agriculture company stop the main study of its top experimental medicine due to a lack of efficacy. Beyer also lost a key US trial against its we'd killer roundup. And Nathan chares at Julius Bear. They are down about ten and a half percent. The Zurich based bank warning it's full of your profit will probably decline. The firm says provisions for bad loans. Jumped futures on Wall Street are higher. SMP futures up a tenth of a percent, as our down futures. Nasdaq futures up two tenths of one percent. Treasury yield right now four point four to four percent. This is Bloomberg, all right, Nathan, Thanks, It's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. See me, Good morning, Good morning, Karen. Former President Donald Trump and Texas Governor Greg Abbott served Thanksgiving meals yesterday and an airport hangar near the southern border to nearly two hundred border officials who will be stationed on the border over Thanksgiving. Afterwards, the governor endorsed Trump's twenty twenty four bid for the White House. I'm here today to officially proclaim my endorsement for Donald J. Trump to be President of the United States of America again. Abbot praising Trump for his border policies and battle to New York Representative George Santos face is another resolution to expel him from the House after the Thanksgiving holiday, Ethics Committee member and fellow New York Republican Andrew Garbarino tells ABC News he was shocked by what the investigation uncovered. He took every opportunity of available to him as a candidate to really gain the system offer his personal benefit. I wish I knew it was gonna be bad. I didn't think it was going to be this bad. The House Ethics Committee released its report into what investigators described as quote a complex web of unlawful activity involving Representative Santo's campaign, personal and business finances. The major Los Angeles roadway damaged by arson more than a week ago, reopened way ahead of schedule yesterday evening. California Governor Gavin Newsom says the iten will be fully operational for this morning's commute, but the work continues when well we see those permanent fixes secured. That will be over the course of many weeks, maybe a few months, but that won't significantly impact the commute or impact the five lanes that are now open in both directions. A Lease are searching for a suspect in that fire. They're asking for the public's help. Airports across the country are bracing for record Thanksgiving travel this week. TSA expecting to screen thirty million passengers over the holiday. Thomas grab is in Detroit. He's flying to New Orleans, but he's not expecting big crowds at the airport while he's there. I'm not expecting delays because I'm leaving on Thanksgiving Day, so a lot of people try to leave before. Sunday after Thanksgiving is projected to be the busiest day, with an estimated two point nine million passengers. Take into the skies. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm Amy Morrison. This is Bloomberg Karen. All right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you wanted. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stashauer, John Karen. No one could have expected this late in the NFL season for the Detroit Lions to have the second best record in the league. They are now eight and two. It's their best start to season since nineteen sixty two. They come back in Detroit. The Lions trailed the Bears by twelve points with three minutes left. Lions came back to win thirty one twenty sixtyes fight an off day for their quarterback Jared goff k through three interceptions. The Cowboys are seven to three, a point defferential of plus one twenty seven, tied with Baltimore for the best in the league. Cowboys won easily at Carolina thirty three to ten, forty nine ers, also seven to three. Brock perty twenty one of twenty five, three hundred and thirty five yards three touchdowns, including the seventy six yard to Brandon Ayu. Forty nine Ers beat the Bucks twenty seven to fourteen. The game last night won by Denver a Russell Wilson touchdown pass to Courtland Sutton with a minute ago. The Broncos fourth winning a row twenty one to twenty over the Vikings, who saw their five game winning streak come to an end. Good one tonight. It's the eight and one Eagles and the seven and two Chiefs. It's in Kansas City. It's a Super Bowl rematch. Syracuse has fired it's football coach. Dino Babers. Had the job for eight years, went forty one and fifty five. So add Syracuse to the list of schools we'll be looking for a coach for next year. Aaron Nola has already pitched nine seasons for the Phillies and he is stained put. He was a free agent but re upped with the phil seven years, one hundred and seventy two million. The f one raised in Las Vegas won by Max vers Stapp, and he's already won the season championship. John stash Awer Bloomberg Sports. Karen all Right, John Stashauer, thank you well. Coming up on Bloomberg Daybreak. We are going to be speaking with our own Creedy Gupta. We'll be discussing that changes at open Ai and of course Sam Altman going over to Microsoft again. That's coming up with Crety Gupta, and then we'll get the latest on the war in the Middle East. We'll be joined by Israeli government spokesman Alon Levy ahead of those conversations, though, futures on the rise, with SNP futures up a tenth of ve percent, up about six points this morning. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager on the end of what could be the end of a head spinning few days. Just keeping on top of what's been happening at OpenAI. It started with the sudden announcement on Friday that CEO Sam Altman was being ousted, then a tug of war between open AI's board and its biggest investors to try to get Altman back. Now the word this morning that Sam Altman and OpenAI founder Greg Brockman have landed at Microsoft, one of those biggest open Ai investors, to run Microsoft's in house AI team. Let's get more on all this now we're joined by Bloomberg's Critty Gupta. Did I sum it up well enough? There? Critty? You did? And yet there's still so much more to pack. I mean, this saga is so fascinating. Nathan. You mentioned Microsoft and Opening I clearly have a close relationship. Let's put some numbers on it. Microsoft has a forty nine percent stake in open Ai. But now I guess the question is, what do you do with that steak? If Sam Altmant and I believe it's been reported that half of the company's employees have followed him, are now going to be absorbed into Microsoft itself. But Nathan, I think we shop at the market moves here MSFT, your ticker hired by two point six percent off that news. Macro read through as well if you don't care about Microsoft specifically, Nasdaq futures popped on the news when they broke at about eight am London time, So again something to watch very closely, but also read through into alphabet Google shares goog down about one percent. Because now we are in direct competition with Alphabet's offering of their own AI platform, Deep Mind. So you are starting to see this become a true kind of competitive take between Microsoft and Alphabet when it comes to the AI, even more of an arms race potentially when it comes to artificial intelligence. And what does it say now when you have the leadership of open ai now in charge of Microsoft's in house team, and at least at the moment, Microsoft is saying they still want to have that relationship with open Ai. I mean can they? I mean, in theory they can because of that forty nine percent stake that exists. But I guess the question now really goes to words more and this is not my area of expertise and manly intellectual property and where the founding of it is. If you look at the makeup of the board of open Ai, the board that ousted Sam Altman, by the way, it's made up of basically the brains behind chat GPT, you're chief scientist for example, that Sam Altman was notably at odds with even Mira Marati, she was the chief technical officer over at open Ai before she became interim CEO. She's been advocating for Sam to actually come back to the board, but other members of the board include experts in tech who were actually able to help create it. There is a thought out there that perhaps Microsoft would want to kind of not only create their own AI team, but also have that exposure to whatever it is open Ai takes on next, especially under their new leadership of the former Twitch CEO Emmett Shecher. All right, Bloomberg's Critti Gupta will be checking back with you as we continue to monitor developments with Sam Altman, now former CEO of open Ai, landing at Microsoft to lead their artificial intelligence team. Now, we want to turn to the Middle East, where Israel and Hamas are said to be closer than ever to reaching a deal to free hostages taken in the October seventh attack that's set off the war in Gaza. That would be an exchange we're told for a multi day pause in the fighting for more. We're joined now by Israeli government spokesman Alon Levy. It's good to have you back on with us here on Bloomberg. Alon, can you give us any further clarity on where things stand on these hostage talks? Israeli society is, of course sick with worry for the fate of our two hundred and forty hostages, including thirty children. I really do mean sick with worry. People aren't sleeping properly. We're doing everything we can to bring them home. You'll understand that I can't comment on sensitive negotiations that are ongoing because human lives hang in the balance. We hope to bring these people home, but the less we say the better. At this point, are you hoping to get all the hostages back? How would it work in terms of the number of hostages that could be returned, and what would that mean for the progress of the war. We have two goals in this war in response to the October seventh massacre. The first is to totally destroy Hamas's governing and terrorist infrastructure inside the Gaza strips so it can never pose a threat to our people again. And the second is to bring all of our hostages home. That is the goal of this war. We hope that they will be brought safe and sound. Unfortunately it's been too late for some of them. Corporal Noah Marciano, age nineteen, was a female soldier. Yesterday we revealed that she was executed by Hamas on the grounds of the Shifa Hospital. We're doing everything we can to get the rest of the hostages out, including the thirty children, including the ten toddlers under the age of five. We're sick with worry for them. We're demanding their immediate and unconditional release, and we're calling on the whole world to put all possible pressure on Hamas and its supporters. There is no excuse for abducting babies from their beds and holding them in communicado for forty five days in a dark tunnel somewhere. To your point about Hamas reportedly using that hospital or Shifa Hospital as an execution point four hostages, that raises the question once again about whether Hamas used that hospital itself as a command and control center. I know the Israeli military has a released video that shows tunnel shafts near that facility. Does that prove that Hamas used that facility as a military post? All the people who've spent the last few days pretending that the Hamas terror tunnels were the next Saddam WMD's look very silly now that the evidence has come to light. Last night, the IDF released footage of a tunnel that stretches. The shaft stretches ten meters underground on the grounds of the Shifa Hospital. It then extends for fifty five meters until you reach a blast door with a gun hole in it. Now, I don't know whether you've ever seen a blast door with a gun hole in an underground tunnel in hospitals near where you are. We certainly don't have them here in Israel. And that's in addition to the evidence that Hamas used the Sheifa Hospital on October seventh in order to hold hostages. Yesterday, we released CCTV footage from inside the hospital showing two hostages, anpoorly and a Thai citizen by the way, being manhandled into the hospital. One of them doesn't appear to be wounded at all, and he's being dragged in by terrorists with a meat kleaver and with guns. The evidence is there for all to see. Unfortunately, the World Health Organization, none of the other UN agencies that have for many years been covering up for Hamas, have found the moral courage to condemn Hamas's use of hospitals as human shields. And we're demanding full accountability from these agencies that most probably knew and said nothing and still continue to say nothing. Obviously, we in Israel are suffering from this deep systemic rot in these international institutions, but they're failing the global community as well when something like terrorists using hospitals as a command center is something that they cannot go on the record and condemn. And to that point, Alon, there has been the concern raised as well as you alluded to, from the World Health Organization, the United Nations, and now the United States about the risk of civilians, non combatants, being casualties. Now, with the fighting moving into hospitals and into schools as well, how can you minimize the risk of further civilian casualties in this conflict. We are targeting Hamas everything we can to get civilians out of harm's way. Unfortunately, on October seventh, Hamas declared war on us with the brutal October seventh massacre, and it chose to fight that war from within densely populated areas. You know, Hamas's whole strategy is based on human shields. It sounds evil, it sounds cynical, and that's because it is. Hamas has spent sixteen years embedding itself under civilian areas so that it can hide behind women and children. And as our soldiers have gone through the Gaza Strip, we have uncovered tunnel shafts underneath a child's bed. We found missiles in the compartment under a girl's mattress. We found rocket launchers with the cables leading into clinics and mosques. And we've spent the last month urging civilians in northern Gaza to get out of the way because the fighting is going to get dangerous. Because Hamas is trying to put them in harm's way. We're trying to get them out of harm's way. That's why we've been securing humanitarian corridors for people to leave. Our own soldiers have been shot at by Hamas terrorists with RPGs as we try to secure your safe passage for Palestinians to leave. And I have to say it's tragic that Israel has been urging an evacuation since October thirteenth because the fighting is going to get dangerous, and UN agencies resisted and said that couldn't happen. And now the World Health Organization has finally come around to Israel's way of thinking that that hospital has to be evacuated to keep people safe. It took thirty eight days, and we hold the World Health Organization complicit with Hamas's human shield strategy and with any loss of life that has taken place in that time because of its gross negligence, because it dragged its feet and refused to facilitate an evacuation before the ground offensive, and is now demanding that Israel complete that evacuation under fire, something we will of course continue to do because we don't want to see civilians heard we want to go after Hamas. In the last couple of days, Alon, we have heard that this war is moving into a new phase now with the fighting going on into hospitals. Can you explain more what the new phase of this war means. Is the fighting going to move further into southern Gaza. Israel is now operating deep inside Gaza City. We're striking at Hamas's control and command centers, and the Israeli Army Chief of Staff said just at the end of last week, we're approaching the end of our campaign in northern Gaza to root out Hamas infrastructure and will turn to the rest of the Gaza Strip. Our response to the October seventh massacre. To that horrific terror attack when twelve hundred people were butchered, massacred, tortured, mutilated, burned, alive, raped in the most brutal way imaginable, is to eliminate the terror organization that did that and is openly promising in interview after interview to do another October seventh, and another October seventh, and as many as it takes until they murder every man, woman, child in our country. This war must end with the total eradication of Hamas. And we know that we stand shoulder to shoulder with the Free Nations, with President by And in the United States, who wrote in the Washington Post yesterday, this war must end with the total destruction of Hamas. This war cannot end with Hamas free to reoffend, because if this war ends with Hammas still in power, it will perpetrate more atrocities against our people. It's a genocidal terror organization that openly says it wants to murder every person in this country, destroy the state of Israel, and we will not let it. This was the straw that broke a very strong camel's back, and this war will end with the end of Hammas. Thank you for joining us. Alon, I hope we can reach back out to you in the days to come. That's Alon Levy with us this morning, spokesman for the Israeli government. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg daybreak

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

• In the US – a look ahead to U.S Retail sales and Netflix earnings.
• In the UK – a preview of next week’s ECB meeting.
• In Asia -  a look ahead to China trade data and TSMC earnings.

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Tesla Sinks as Musk Warns of More Blows to Profitability

2) Netflix Shares Fall After Sales and Forecast Come Up Short

3) Christie Calls Classified Documents Case Worst of Trump Charges 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Jamie Dimon and Janet Yellen give a lifeline to First Republic

2) Credit Suisse opposes a combination with UBS

3) Clients pull $8 billion out of Charles Schwab funds  

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. 

On today's podcast:

1) Trump Picks Musk, Ramaswamy for Government Efficiency Effort

2) Trump to Nominate Fox News Host Hegseth as His Defense Secretary

3) US CPI to Show Another Firm Reading 

See omnystudio.com/listener for privacy information.

On today's podcast:

1) Iran dispatched a warship to the Red Sea after the US Navy destroyed three Houthi boats, a move that risks ratcheting up tensions and complicates Washington’s goal of securing a waterway that’s vital to global trade.

2) If the consensus on Wall Street is often wrong — and evidence from 2023 does little to dispel that notion — then in the year ahead investors are facing either the mother of all rallies or a selloff for the ages.

3) ASML Holding canceled shipments of some of its machines to China at the request of US President Joe Biden’s administration, weeks before export bans on the high-end chipmaking equipment came into effect, people familiar with the matter said.

Full Transcript: 
Good morning. I maybe Morris and I'm Karen Moscow. Here are the stories we're following today. We begin with oil rising to start the new year, Iran sending a warship to the Red Sea in an escalation of tensions in the region. The show of force comes after the US Navy destroyed three Hoothy boats which we're attempting to board a container on New Year's Day. Elizabeth Kendall is a Middle East specialist from Cambridge University and says the two are clearly interlinked. Aaron is puppeteering Hamas, the Hoothy's and other movements like Hezbollah in the Middle East, and the houthy slogan indeed includes the words death to Israel and a curse on the Jews, so it's very much aligned with Hamas's more militant and extreme war wing. Cambridge University's Elizabeth Kendall checking oil right now, Nie makes crude oil up more than two percent or a dollar forty nine now trading at seventy three dollars and thirteen cents a bit. Well, Amy, oil isn't the only thing on the move this morning. We're also seeing Bitcoin on the rise, following through on last year's massive rally, and we get more from Bloomberg Markets reporter Joe Easton. It is up another four percent at the moment, at the highest level since April sixth, above forty five thousand dollars for the first time in two years. This is due to the expectation of the direct investment from this ETF, so that is boosting sentiment and a lot of positivity. People looking for more technical levels for that one to keep going higher. And Bloomberg Joe Easton says Bitcoin has risen over twenty percent since has started December, as that January tenth deadline for the Securities and Exchange Commission to give its blessing for a spot bitcoin ETF dra us closer checking bitcoin right now, it's at forty five seven hundred dollars over in Europe's stocks are also higher to kick off the new trading year. Let's get the latest from Bloomberg Daybreak euro banker Stephen Carrol. Stephen, good morning, Amy and Karen. The tensions in the Red Sea are playing into the market narrative in Europe today. Shares and the shipping giant Marisk have risen after it stopped using that key trade route for forty eight hours following the weekend attack on one of its vessels. Higher oil prices are also helping to lift oil majors, making energy one of the best performing sectors on the Stock six hundred. More broadly, it's the Spanish and Italian markets which are out performing, boost it by a rise in bank shares. In London, Stephen Carrolt Bloomberg Radio, All right, Stephen, thank you all. Back here in the US, Wall Street returns to a holiday shortened week to kick off the new trading year, and we get a look ahead from Bloomberg Shirlie Pellett. The S and P five hundred index sits within striking distance of its first in two years. But a key challenge for markets is the outlook for the economy and corporate earnings. Michael Binger is the president of Gradient Investments. The economy I think is very resilient. Jobs are driving that, corporate profits are supposed to grow about ten eleven percent. And valuations, I mean they're not really cheap, but they're not super expensive either in the markets right now. Among this week's earnings reports, Constellation Brands and Walgreens Boots Alliance in New York Charlie Pellett Bloomberg Radio. Thank you, Charlie. In twenty twenty three, some of Wall Street's biggest names got it wrong with their predictions for how markets would perform, So will they fare better? In twenty twenty four, Bloomberg has compiled more than six hundred and fifty calls from strategists in Today's Big Take. Sam Potter is a senior markets editor for Bloomberg. Most strategists on Wall Street see the interest rate tykes of the past eighteen months to two years finally starting to bite economies generally around the world, stock slow, and that will kind of pre run a central bank pivot roundabout mid year. Bloomberg Senior Markets editor Sam Potter adds that strategists see the main risks to the markets inflation and the US election. Well. In corporate news, Amy Chinas BYD may have just overtaken Tesla as the world leader in EV sales. It's still more than five hundred twenty six in fully electric vehicles in the fourth quarter. Bloomberg's John Lewis more from Beijing when BYD Tesla, it'll do two things. I think that's going to put this company into the consciousness of people around the world in a way that that company has not had ever before. The number two thing it does is it really underscores how dominant a position China not only as a market, but as a country with lots of companies producing electric vehicles, how dominant a position China has in that industry now and Bloombergs John Lusa's Tesla is estimated to have delivered over four hundred and eighty three thousand in the fourth quarter alone. Speaking of China, President Xi Jinping has pledged to strengthen his country's economic recovery after a tough year. Bloomberg's Jenny Marsh has more from Hong Kong. This is Chi Jinping's new yas Eve's speech, and he normally uses it to so trumpet the achievements his nation's major in the year. And I think this speech really stood out for how candid he was being about these problems. It's the first time he's acknowledged that the struggle that twenty twenty three have brought. It also sort of underplayed in some ways the problems that are still lying ahead in twenty twenty four for the economy. And he didn't really have any sort of quick fixes for that. Bloomberg Jenny Mark says China is entering a pivotal period as policymakers try to boost growth, stabilize a crisis in the property market, and prevent deflation. Beijing is expected to target a growth goal of around five percent again in twenty twenty four. Meanwhile, Amy, the Biden administration has won another battle and its effort to try and slow Shina from building its own semiconductor industry. We get more with the Bloomberg's Ed Baxter, ASML Holding is canceled shipments of some of its machines to China at the Biden request. This week's before the export bands on the high end chip making came into effect, the Dutch manufacturer had licenses to ship three top of the line deep ultraviolet lithography machines, but before the deadline it decided to cancel the orders. The US and allies have been trying to block access to the technology. Ed Baxter, Bloomberg Radio, Thank you care in time now for a look at some of the other stories making news in New York and around the world. And for that we're joined by Bloomberg's Michael bar Good morning, Michael, Good morning, Amy The death toll has now climbed to forty eight. After a magnitude seven point six earthquake struck Japan. The quake hit off the Noto Peninsula on Japan's northwest coast. This man at Tokyo resident and US national, was visiting to Yama when the quake hit. First. The trim had just done it very slowly, and everybody kind of left it off, you know, they thought, oh, this is this is kind of humorous, you know, on New Year's Day, and then then it is just a violent shape. The tremor was followed by hundreds of aftershocks. A plane is on fire right now on the runway of Tokyo's Hanada Airport. Authorities say a large burst of fire erupted from the side of a Japan Airlines plane as a taxi on the runway. All of the three hundred and seventy nine passengers and crew were said to be safely evacuated. Israel Supreme Court struck down a key component of Prime Minister Benjamin Etnaho's contentious judicious overhaul before the October seventh to Maas attack into southern Israel. The planned overhaul sparked months of mass protests threatened to trigger a constitutional crisis between the judicial and legislative branches of government. The FBI's Joint Terrorism Task Force is assisting police in Rochester, New York, to investigate a car crash that killed two people and injured five others outside of Performing Arts theater in the early hours of New Year's Day. The crash happened in front of the Kodak Center. It became a large scene due to a fire which had erupted as a result of the crash, and police also say several gas cans were found in and around the striking vehicle. Rochester Mayor Malik Evans I want to offer my condolences to those families, those individuals that lost their lives, and I asked the community to pay pray not only for those that have lost their lives, but also those that are injured. Terrorism investigators are trying to determine if this was just a car accident or something far worse. New York City's effort to stop migrant buses has resulted in the buses arriving instead in neighboring New Jersey. Over the weekend, buses from Texas and Louisiana began dropping off asylum seekers at several New Jersey transit stations. From there, the asylum seekers are believed to have taken trains to New York City. Edison, New Jersey mayor Sam Joshi says the buses are a major risk to health and security. The solution for me, as the mayor of Edison, is not to pawt it off to another mayor. Global news twenty four hours a day and whenever you want it with the Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Aamy all right, Thank you, Michael, And we do bring the news throughout the day here on Bloomberg Radio, and now you can get the news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Sports Report, brought to you by Tri State Audi. For that, we bring in John stash Hour. Thanks Amy Kevilo. Terrific gains of the college football playoff semifinals overtime at the Rose Ball after Michigan tie to Alabama. The lad touchdown in ot Wolverines had the ball first out of the shotgun. Paura McGain This tiny poussi he's got the first out of more porm inside the five porm space is way across the goal line. Touch down Michigan seven. Take your touchdown run ESPN the call Michigan and stop BAMACB Jalen Milroe on a fourth down and one twenty seven to twenty JJ McCarthy through three TD passes, and then came the Sugar Bowl where Washington never trailed that at thirteen point lead been WITHY through the fourth quarter. Texas rallied had four chances to take the lead the final fifteen seconds, but ended the game with three incompletions on the Husky survive thirty seven thirty one. Their QB Michael Pennix Junior threw for four hundred and thirty yards. Championship game next Monday in Houston, both Michigan and Washington will go in fourteen and oh I Fiesta Ball, all Oregon forty five to six over a limitary vote next to five TD passes Sitters pull in Orlando, All Tennessee thirty five nothing over Iowa. LSU won the RELYA Quest in Tampa thirty five to thirty one over Wisconsin. Nicks happy to start the new year at the Garden after an ohen three road trip, they beat Minnesota, won twelve one to OH six. Julius Randall Port in thirty nine points. O g Onnobi made his next debut. He played thirty five minutes before found out. He scored seventeen in Toronto. RJ. Barrett and Emmanuel quickly debuted for their new team. Scored nineteen and fourteen points in a Raptors win over Cleveland. Outdoor Hockey in Seattle, crowd of forty seven thousand to see the Kraken shoutout Vegas three to nothing. John Stashwin Bricksport from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Day Break. Good morning. I'm Amy Morris, and we are entering the first week of trading for twenty twenty four. As we do most investment outlooks from major banks and advisors are predicting the same middle of the road scenario for the coming year, an economic slow down, a central bank pivot, and a late year rebound. We're joined by Dennis Gartman, University of Akron and Dowment chairman and former publisher of the Gartman Letter to sort of set us straight on what we can expect for the coming year. Now, Dennis, the dollar closed out its worst year since twenty twenty, the S and P five hundred rose nine straight weeks. Are these trends bound to continue? I have my doubts to the latter trend will continue. I think stocks are extremely overbought. The market has risen on an anticipation of three, four, five six cuts in the overnight Fed Funds rate by the Federal Reserve Bank. I have my doubts as to whether that will occur. I think that the Fed is done raising the overnight Fed funds rate. Of that, there's no doubt. But whether they're going to cut five or six times, I think is very doubtful. I think we have to anticipate the fact that the Federal will delay any change in the overnight Fed funds rate lower to later this year. There's too much anticipation that the FEDERALI begin cutting the overnight funds rate by March. I think it'll be late in the summer, maybe early into the autumn before it happens, But we shall see. Time shall tell. I think stocks, however, are aggressively overbought, have been for some while, and it seems to me this looks very similar to what happened in twenty twenty one twenty twenty two, when we reach the higher the market on the opening day of twenty twenty one and then ended up having a rather substantive decline in prices. So time shall tell. We'll see. But too much anticipation of too much easier possible abilities on the part of the Fed that I don't think are going to happen. Now, we have a job's report coming out on Friday. What are you watching for in that and how that might impact it? Long ago I quit anticipating the over the employment rates because of the fact that we tend to see such huge numbers of revisions from one month to the next. But right now the market is anticipating an increase of about one hundred and seventy five to one hundred and eighty five thousand new jobs. We shall see if that if that occurs, but it's one of the most radically revised reports of the year. Every month the revisions are forty to fifty thousand plus or minus. So right now the market is anticipating one hundred and seventy five to one hundred eighty five thousand times. Shall tell Barkley is predicting a softest landing. Vanguard JP Morgan expecting a mild recession. But you know that's what everybody predicted for twenty twenty three as well. What's the difference now. I was one of the people that expected to see a recession in twenty twenty three, and clearly we have not had that. The market is now anticipating the softest, the best of all kind of soft landings imaginable. I have my doubts as to whether that will occur, but that's what the market anticipates, that's what the stock prices have anticipated, and that's what the world generally anticipates. Whether whether it happens or not is up for debate. I have my doubts. Seriously, though we are over extended to the upside. We were long overdue on a recession because of the FED tightening monetary policy over the course of the past several years, and there's always law long and reasonable legs between the monetary policy and economic activity. And I think we be recessionary before the end of the year, but I don't think it'll be a substantive one. I think it'll be a very quiet one. Time. However, again, as I've said too many times already this morning time show, tell Yeah, I was about to ask you what kind of recession you were looking for. You're expecting a softest landing. Yeah, yes, I think it'll be a very soft one, a very minor one. We've seen these types of recessions before. But I think it'll be a very a very quiet and not anything like we saw in seventy three, seventy four, not anything like we saw in eighty one, eighty two, not anything like we saw in nine. But it'll be a recession, and it'll be a quiet increase in over in the unemployment rate to probably four or five percent before it's done. What do you see with oil and gold in this new year? Gold is opening up very strongly right now, and I think gold wants to go from the lower left to the upper right. It's been a bull market for a while, and I think gold wants to go higher. Clearly, it's heading about twenty one thousand before before too long, I think it goes to twenty two or twenty three thousand before the year is out. I have been very bearish on crude oil for a while because the term structure has been overly overtly barished, with the front month leading on the downside and failing to gain upon the back moths when the market when the market rallies. But now all of a sudden, we're starting to see the term structure beginning to change a little bit, and everybody's watching what's happening in the Gulf of so As. I think that's only gonna get worse, not better. And for the first time in months, I'm actually not bearish of crude oil. I'm starting to turn bullish of a Timeshall tell, but this is the first time in months that I've actually been have not been bearish on the crude oil market because of the changing nature of the term structure. You are listening to Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus listen coast to coat on the Bloomberg Business app, Sirius Xmbiheartradio app, and on Bloomberg dot Com. I'm Amy Morris and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Powell Dances Between Pause and Hikes

2) ECB Makes Rate Decision

3) Trump Retains Polling Lead After Indictment 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we’ll be tracking for you in the coming week including a look at upcoming economic data, The UK Chancellor’s budget proposal, the first Republican primary in the US, and Foxconn’s bigger move into India.

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Bloomberg's Joe Mathieu and Kailey Leinz recap the first 2024 presidential debate between President Joe Biden and former President Donald Trump. They receive additional analysis from Bloomberg Correspondent David Gura, Republican Strategist and Stone Court Capital Partner Rick Davis and Democratic Strategist and ROKK Solutions Partner Kristen Hawn.  

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On today's podcast:
1) Stocks, US Futures Decline Before Inflation Gauge
2) Nike Sinks on Forecast
3) U.S. May Lift Ban on Sales of Offensive Weapons to Saudi Arabia 

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On today's podcast:
1) President Donald Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation.

2) European stocks opened sharply higher, tracking Wall Street’s late-Wednesday rally, after President Donald Trump paused most of his sweeping tariff hikes. US equity futures fell, however, suggesting the euphoria is already dissipating. 

3) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the world into disarray, he backpedaled and, in the process, pulled the financial system back from the brink.

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) China Faces a Potential Fitch Downgrade amid Varying Economic Concerns

2) President Biden Promises to Visit Hawaii but Doesn't Set a Date

3) Tesla Cuts Prices in China for the Second Time This Week 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we’ll be tracking for you in the coming week including the March jobs report, President Biden's trip to Ireland, the changing of the guard at the Bank of Japan and the indictment of Donald Trump. 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) President Biden targets the wealthy in his budget proposal

2) Senate Minority Leader Mitch McConnell is hospitalized

3) More trouble for Credit Suisse, as the bank delays its annual report  

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On today's podcast:

1) European Stocks Rise After US and Asia Tech Rally

2) Biden to Offer Legal Status to Undocumented Spouses of Citizens

3) TikTok’s Bid to Void Ban Tests Secrecy of Lawmakers’ Briefings 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Apple’s Headset Will Test Marketing Might

2) Christie Set to Launch Presidential Bid

3) Dimon to Meet with House Democrats 

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Boeing plans to cut its workforce by about 10%, as the planemaker faces a drawn-out strike by workers and a worsening cash crunch. Hosts Matt Miller and Katie Greifeld discuss with Bloomberg Intelligence senior aerospace and airlines analyst George Ferguson. 

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On today's podcast:

1) Federal Reserve Chair Jerome Powell downplayed growth concerns and the impact of President Donald Trump's trade war on inflation, calling the inflationary effect of tariffs "transitory".

2) President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push. 

3) Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago.

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Goldman Sachs & Bank of America Earnings

2) G-7 Vows Support for Ukraine

3) Musk Plans for Artificial Intelligence 

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 On today's podcast:

1) U.S. officials say Israel Launched a Retaliatory Strike on Iran

2) Aid Packages for Israel, Ukraine, and Taiwan Get a Push on Capitol Hill

3) The Jury's Seated in the Criminal Case against Donald Trump 

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On today's podcast:

1) Trump Breaks With Johnson on Funding Bill, Wants Debt Limit Vote 

2) Powell Signals Fed’s Focus Has Returned Firmly to Inflation

3) Micron Set for Biggest Drop Since 2020 on Sluggish Sales Outlook

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

• In the US – a preview of core PCE inflation and GDP data, and a look ahead to Dell and HP earnings.
• In the UK - a look ahead to the 77th World Health Assembly in Geneva.
• In Asia – a preview of a two-day summit between Japan, South Korea and China in Seoul.

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A chemical manufacturing company grinds to a halt when a cyberattack locks up their entire assembly line. Kurtis Minder, a renowned ransomware negotiator, answers their call for help and explains why manufacturing companies are uniquely vulnerable to these kinds of disruptive attacks. Then David Adrian from Chrome chats with Kate about how a web-focused strategy can help manufacturers transform what are commonly thought of as massive vulnerabilities into secured points of access and visibility.

This episode is sponsored by Chrome Enterprise.

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Goldman Sachs holds a key investor day after a forgettable year

2) The Supreme Court weighs in on student debt relief

3) Zoom shares surge after profits top estimates 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Goldman Cuts US Recession Chances to 15% on Improved Inflation

2) First Lady Jill Biden Tests Positive For Covid-19

3) Arm Banks Set for $100 Million Payday From Chip Designer’s IPO 

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On today's podcast:

1) Global Stocks Rally Ahead of Inflation Data

2) Hogan Wins Senate Republican Primary in Maryland

3) GameStop, AMC Shares Rise as Traders Pounce on Meme Stocks 

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On today's podcast:

1) Trump Wins Republican Nomination, Setting Up Rematch With Biden

2) Griffin Says Fed Must Go Slow to Avoid ‘Devastating Course’

3) TikTok Focuses on Senate as House Favors a Divestment Vote

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Your morning briefing. The news you need in just 15 minutes. On today's podcast:

1) SoftBank’s Arm Files for Biggest IPO of Year
2) S&P Joins Moody’s in Cutting US Banks Amid ‘Tough’ Climate
3) Microsoft Pushes to Get Activision Deal Done With Fresh UK Offer 

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On today's podcast:

1) President Trump rolls out plans for reciprocal tariffs on a host of trading partners President Trump has ordered his administration to consider imposing reciprocal tariffs on numerous trading partners to rebalance trade relations. The tariffs would be customized for each country, aiming to offset not just their own levies on US goods but also non-tariff barriers, and could take weeks or months to complete. The move is seen as a potential opening bid for negotiation, and Trump hopes to have a discussion with other nations about how existing policies have created an imbalanced trade environment.

2) The White House intensifies efforts to shrink the federal workforce The Trump administration is advising federal agencies to lay off thousands of probationary employees, with some exceptions, as part of its effort to rapidly downsize the federal government. Agencies such as the General Services Administration and the Department of Energy are making cuts, with the latter planning to dismiss 90% of its probationary employees for poor performance.

3) TikTok is back on the Apple and Google app stores Apple and Alphabet’s Google are restoring ByteDance TikTok to their app stores following assurances in a letter from US Attorney General Pam Bondi that a ban wouldn’t immediately be enforced. The two companies had removed TikTok in the US last month to comply with a law passed in 2024. By Thursday evening, the software had returned to the Apple App Store and Google Play store.

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

1) In the US - It's been a very Merry Crypto-mas with Bitcoin and Etherum surging. Will it continue in 2024?

2) In the UK - 2023 has been a year of inflation, rate debates, and job cuts. What lessons can be learned from the past year and how can they help us navigate the next 12 months?

3) In Asia - After a devastating pandemic and prolonged economic slowdown in China, how has Macau's casino and gaming business recovered?

4) In Washington - The 118th Congress has convened for the year after a session marked with turmoil. What was actually accomplished, and who were the winners and losers?  

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

• In the US -  a preview of U.S CPI data and next week’s Presidential debate.
• In the UK – a look at next week’s ECB meeting.
• In Asia -  a look at Apple’s major product launch.

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On today's podcast:

1) China Unleashes Stimulus Package to Revive Economy, Markets

2) Israel Airstrikes on Lebanon Kill Hundreds in Major Escalation

3) Visa Faces Justice Department Antitrust Case on Debit Cards 

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On today's podcast:

1) Capital One to Buy Discover for $35 Billion in Top 2024 Deal

2) Barclays Vows to Return Billions to Investors in Overhaul

3) US Warns Israel Against an Attack on Rafah in UN Draft 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Israel Latest: Military Builds Forces Near Gaza as US Sends Aid

2) First Round of US Security Aid Is on the Way

3) Best Day for Treasuries Since March on Signs Fed May Be Done

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Bloomberg's Carol Massar and Tim Stenovec cover the latest earnings from Meta, the parent company of Facebook. They speak with Bloomberg News Contributor Jon Erlichman and Bloomberg News Social Media Reporter Aisha Counts. 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

(1) Silicon Valley Bank's cash crunch sends financial stocks across the globe into a tailspin.

(2) The UK economy grew far more strongly than forecast in January.

(3) Rishi Sunak heads to Paris to meet Emmanuel Macron, as Franco-British relations improve.

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Yellen Warns Treasury May Run Out of Cash

2) Morgan Stanley Plans 3,000 More Job Cuts

3) Hollywood Writers Go On Strike 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) US House Speaker Kevin McCarthy issues a warning on the debt ceiling.

2) Bank concerns continue after deposits shrink at another regional lender.

3) The Swiss government calls for bonus cuts at Credit Suisse.  

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On today's podcast:

1) Stocks Steady as Traders Await Powell Speech

2) Trump, Harris Prepare for Turbocharged Week of Presidential Race

3) Goldman Cuts US Recession Risk Following Retail Sales, Jobs Data 

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On today's podcast:

1) Stocks Gain in Europe After US Tech Sector Rallies

2) Biden to Decide on US Steel Acquisition After Panel Deadlocks

3) Bill Clinton Admitted to DC Hospital After Developing a Fever

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On today's podcast:

1) Trump Picks Former Immigration Chief Homan as His ‘Border Czar’

2) Stocks Push Higher While Bitcoin Tops $81,000

3) Fed’s Kashkari Says Stronger Economy Could Mean Fewer Rate Cuts 

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

On today's podcast:
1) Kamala Harris & Donald Trump Turn Up Rhetoric on Campaign Trail

2) Elon Musk Reportedly Keeping Contact with Vladimir Putin

3) Morgan Stanley Picks New Chairman to Succeed James Gorman 

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On today's podcast:

1) Hurricane Milton Tracks Toward Florida as Category 5

2) US Weighs Google Breakup as Remedy in Historic Antitrust Case

3) Boeing Withdraws Contract Offer as Union Talks Break Dow 

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On today's podcast:

1) Colleagues Remember Former Senator and Vice Presidential Candidate Joe Lieberman, who Passed Away at 82

2) Search and Recovery Efforts Continue in Baltimore with Six Presumed Dead

3) The Fed and Investor Get a Slew of data Ahead of the Holiday Shortened Trading Week

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Apple shares jumped in late trading after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing. The results came as a relief to investors, who have been waiting for the iPhone maker to pull out of a long slump.

Bloomberg TV and Radio hosts Carol Massar and Tim Stenovec speak with Bloomberg Intelligence Senior Technology Analyst Anurag Rana, Bloomberg News Chief Technology Correspondent Mark Gurman and Synovus Trust Senior Portfolio Manager Dan Morgan for analysis and reaction. 

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On today's podcast:

1) Israel Hones Plans to Attack Iran After Attempt on Netanyahu

2) Stocks Pause Gains With Focus on Busy Results Week

3) Treasury 10-Year Yields May Hit 5% in Six Months, T. Rowe Says 

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On today's podcast:

1) Israel Intercepts Hezbollah Missile Fired at Tel Aviv

2) Buffett Whittles BofA Stake to 10.5% With $863 Million Disposal

3) US Investigating SAP, Carahsoft for Potential Price-Fixing 

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On today's podcast:

1) Harris Uses First Major Rally to Push Policies for Families

2) Tesla Profit Shrinks as Musk Tethers Stock to Delayed Robotaxi

3) Deutsche Bank Scraps Buyback After First Loss in Four Years 

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On today's podcast: 

1) Nvidia’s 13% Stock Rout Has Traders Scouring Charts for Support

2) Wikileaks’ Assange to Plead Guilty, Ending US Legal Battle

3) Bowman, Boebert, Maloy Fight For Renomination 

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

• In the US – a look at U.S eco data and bank earnings next week.
• In the UK – a focus on a UK asset slump and what may come next.
• In Asia – a look at BYD and the EV sector and what comes next in the U.S, Nippon Steel saga.

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Check out the new Stock Movers Podcast from Bloomberg. Subscribe for five-minute episodes on today's winners and losers in the stock market.
Listen on Apple: https://apple.co/4kJ43ON  
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Listen on other platforms: https://link.podtrac.com/h0zn7xir

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Nasdaq Reshuffle Adds Twist to $2.4 Trillion Options Event

2) Elon Musk’s Wealth Slumps $20 Billion as Tesla Shares Tumble

3) FTC Pauses Microsoft Merger Trial, Allowing Settlement Talks 

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On today's podcast:                                             

1) The Obamas Look to Energize the Base at the Second Night of the Democratic National Convention
2) Donald Trump Aims to Reframe his Campaign Message
3) Traders Search for More Clues on Rate Cuts Ahead of Jay Powell's Speech

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On today's podcast:

1) DeSantis Pulls Out of Presidential Race, Backs Trump

2) Israel’s Netanyahu Rejects Hamas’s Terms for Hostage Release

3) Stocks Rally as Wall Street Set to Build on Record 

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On today's podcast:

1) LA Faces High Winds and No Sign of Rain After Week of Flames

2) Musk Accused by SEC of Cheating Twitter Holders Out of Millions

3) Big Bank Earnings Begin

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On today's podcast:
1) Middle East tensions rise with Israel launching a weekend strike against Hezbollah

2) Powell's pivot leaves investors debating the size and path of rate cuts

3) Boeing is snubbed for SpaceX as it looks to bring astronauts home 

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On today's podcast:

1) Harris Has Enough Delegates to Clinch Nomination for President

2) Alphabet and Tesla Set to Report Earnings

3) CrowdStrike’s CEO Called to Testify Before US House Committee 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Global markets anxiously await today's Federal Reserve decision

2) New developments on a possible rescue of First Republic Bank

3) Shares of GameStop soar as the company posts its first profit in two years  

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Ford, GM, Stellantis Hit by Strike Amid Wage Dispute With UAW

2) Byron Allen Makes $10 Billion Bid for ABC, Other Disney Networks

3) Chip Designer Arm Jumps 25% in Debut Win for Owner SoftBank  

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On today's podcast:

1) A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot-Bitcoin exchange-traded fund quickly morphed into a major cybersecurity incident on Tuesday.

2) Boeing Chief Executive Officer Dave Calhoun fought back tears as he said the planemaker must own up to its shortcomings as it grapples with a safety incident that has renewed questions over the quality of its manufacturing.

3) Donald Trump’s claim that he is immune from prosecution was met with skepticism by a US appeals court panel, suggesting an uphill battle in his effort to avoid a criminal trial over his attempt to overturn the 2020 election in his final days as president.

Full transcript: 
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the drama surrounding the highly anticipated decision into the United States first exchange traded fund tied directly to bitcoin. We get the latest from Bloomberg's John Tucker. John, what's the latest, Nathan? You're going to add this to the long list of twists and turns in the ten plus year effort to bring a spot bitcoin to EDF to market. Somebody hacked the ex account of the Securities and Exchange Commission. It made a false posts the SEC had approved a Bitcoin ETF. The agency quickly denied any approval and said its ex account had been compromised. The false post on the SEC's X account was up for a number of minutes before the agency clarified it was inaccurate, But in that period Bitcoin posted a jump to almost forty eight thousand dollars before falling back to forty five thousand. About a dozen companies have applied to listingts back by bitcoin in the US. The SEC has until today to take action at least in one of those applications. I'm John Tucker, Bloomberg radio. All right, John, thank you well. Now we want to get the latest on the grounded Boeing seven thirty seven Max nine. The planemaker CEO Dave Calhoun says the company will have to face its own shortcomings as it deals with the door plug belowout on last week's Alaska Airlines flight. We're going to approach this number one acknowledging our mistake. We are going to approach it with one hundred percent in complete transparency every step of the way. We're going to work with the NTSB, who is investigating the accident itself, to find out what the weak cause is. I have a long experience with this group. They're as good as it gets. And Boeing CEO Dave Calhoun fought back tears as he addressed an all hands meeting on the incident. Alaska and United Airlines say they've discovered more Max nine jets with loose bulls after the FAA ordered the model grounded formally. Inspections still have not yet begun. All right, Keren, Well, let's turn to politics now. A federal appeals court appears skeptical of Donald Trump's claim that he's immune from prosecution on charges that he illegally tried to overturn the twenty twenty election. Bloomberg's Amy Morris reports from Washington. The former president was in the courtroom during the hearing when Appeals Court Judge Florence pen asked a Trump lawyer whether a president would be immune for having taken a bribe or ordering Seal Team six to murder a political rival. Trump's legal team responded that the president would have to be impeached and convicted first. At a press conference after the hearing, Trump said that denying him immunity would cause quote bedlam in the country. Trump is also expected to sit in on a hearing tomorrow in his civil fraud case in New York. In Washington, Amy Morris Bloomberg Radio, all right, Amy, thanks, so we're learning more about the hospitalization of Defense Secretary Lloyd Austin and the lapse in communication regarding his whereabouts. Austin had prostate cancer surgery on December twenty second, and was re admitted to the hospital on New Year's Day because of complications. National Security Council spokesperson John Kirby explained the timeline surrounding Austin's condition and when the president knew about it. He was not informed until last Friday that Secretary Austin was in the hospital. He was not informed until this morning that the root cause of that hospitalization was prostate cancer. National Security Council spokesperson John Kirby, the White House has announced a review of proto calls around Cabinet secretaries who are unreasonable or incapacitated. Well, another cabinet secretary, Secretary of State Anthony Blincoln, is still in the Middle East, Karen. He meets today with Palestinian President Mahmoud Abbas in Tel Aviv. Yesterday, Blincoln said Israel must stop undercutting Palestinian governance and rein in settler violence. Israel must stop taking steps that undercut Palestin's ability to govern themselves effectively extrame the settler violence carried out with impunity. Settlement expansion, demolitions, evictions all make it harder, not easier, for Israel to achieve lasting piece and a Secretary blinkn has met with the leaders of Saudi Arabia, Jordan, Cattter, the United Arab Emirates, and Turkey during his latest Middle East trip. Well, Nathan, we want to get back to the markets and update you on a story we told you about yesterday, It is now official. Hewlett Packard Enterprise has agreed to buy Juniper Networks for fourteen billion dollars. The maker of data center hardware will pay forty dollars to share in cash for Juniper. That price represents more than half of HPE's twenty one billion dollar market value and a thirty two percent premium over Juniper's closing price before talks of a deal emerged. Sticking with the tech theme, Karen Ces the Consumer Technology Association's annual trade show of all Things Tech is underway in Las Vegas, and Bloomberg Technology reporter Ed Ludlow is covering the show for US Day one at cs Las Vegas. The theme is definitely AI everything. Take, for example, Walmart, a big box retailer, but putting a lot of emphasis on a new generative AI search tool in the Walmart app on iOS only. Instead of searching for a specific item, the generative AI search allows you to look for an event or a theme. Then there's a kind of mainstay announcement. What was interesting is Google and Amazon both went after Apple's airplay, So in Google's case, they're working on the ability to cast video from an Android smartphone to a TV. Amazon actually want to step further. They developed technology where you can stream video from either an Android phone or an iOS or iPhone to Amazon's own TV hardware. Ed Ludlow for Bloomberg News in Las Vegas, Nevada. All right, Ed, thank you well. I did mention Amazon and they are also making news this morning at a different front. Bloomberg News has learned Amazon's live streaming site Twitch is poised to get thirty five percent of its staff, and that's about five hundred workers. Time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris Samy. Good morning, Good morning, Kieren. More than forty states are under blizzard, wind, snow or flood alerts. Winter storms continue to blanket the country. Bloomberg meteorologist Robed Carolyn significant storm system that spent the last twenty four hours wreaking havoc from the Great Lakes to the Gulf Coast. Now lifting out of the northeast. The worst of the weather of this morning across eastern portions of New England, but we'll still see snow on the backside of the system from Michigan into parts of the Ohio and Tennessee River valleys. Scattered showers are possible over Virginia and the Carolinas. The heavy rain, though in north in New England, should end, as should the snow, but windy conditions will continue from the mid Atlantic into the Northeast today. Bloomberg Meteorologist Rob Carolyn said at Republican leaders say Congress, we'll need another temporary spending measure to avoid a partial government shut down in ten days. How's Republican Matt Rosendale of Montana tells ABC he does not support the bipartisan compromise on spending. Cast we're still looking at about one point six trillion dollars spend in discretionary spending, and we're going to be holding a press conference with members of the House and Senate saying that we are more concerned with securing our southern border and making sure that that is taken care of than we are in writing another check to Joe Biden to continue his agenda, and the Senate Republican John Thune says they will need a stopgap measure to march. Minority leader Mitch McConnell acknowledged there's just not enough time to resolve lingering spending differences before the deadline. We need to prevent a government shutdown, and so the obvious question is how long does the cr need to be And that'll be up to the Majority leader and the Speaker to determine the links at how Speaker Mike Johnson has said he will not bring a continuing resolution to the floor for a vote. Vice President Kamala Harris was back in Atlanta for a roundtable discussion on protecting voting rights. We have seen in the state of Georgia by example of what is happening in the country, anti voter law laws that have limited dropboxes made it illegal to even provide food and water to people standing in line, often for hours. Vice President Harris met with city and state leaders near the Georgia Tech Campus. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now I Amy Morris in this is Bloomberg Karen, all right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg Radio, much as Amy said, but now also as she said, you can get the latest news on demand whenever you want it. You just subscribe to Bloomberg News Now to get the latest headlines of the click of a button, you can get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Well, and it's time now for the Bloomberg Sports Update. Here's John stash Hour John Karn. Just two years ago, Mike Rabel was the NFL the year he coached the Tennessee Titans to the AFC Championship game back in twenty nineteen. But after four straight winning seasons, two seasons under five hundred six to eleven, this past year and the Titans have fired dray Ball, and that immediately begins seculation that he could become the new coach of the New England Patriots, assuming Bill Belichick departs. Raybell played for the Patriots for eight years, won three Super Bowls. The biggest underdog of Wildcard Weekend the Pittsburgh Steelers. They have to go play red hot Buffalo, and the Steelers won't have their best defensive player, TJ Wantt out with a knee injury. Mason Rudolph will be their quarterback, and he was the third string QB for much of this season. Tyrese Haliburton has the strained hamstring injury, but it could have been worse. He's gonna miss only a couple of weeks. Haliburton averaging twenty four points the game. He leads the NBA in assists. The next have won five straight since they made that trade with Toronto. They blew out Portland. The Lakers top Toronto by one. Anthony Davis scored forty one. Memphis just lost John Moran for the season, but had to win at Dallas's Desmond Main score thirty two. Minnesota improving to twenty six and ten with a win in Orlando, Detroit falling to three and thirty four. The Pistons blown out by Sacramento. Perdue, number one in the college basketball lost at Nebraska Huskers, beating number one for the first time in forty one years, and second rank Houston, who was undefeated, was upset by Iowa State. John Stanshower Bloomberg sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Sirius exam. The Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. As we still wait for a decision from the Securities at Exchange Commission on approvals for the first spot bitcoin ETFs. Investors briefly thought that decision was made yesterday, only to find out the SEC's social media had been hacked. New questions about security at the agency tasked with ensuring the security of your investments. Bloomberg's Crity Gupta is here with us now. To call this an embarrassment for the SEC seems like it might be understating things. Yeah, it's a really interesting and almost ironic situation that you see from the SEC and of course a lot of these bitcoin issuers, because at its core of the concern about this ETF was simply this idea that bitcoin is a very volatile asset. It's a decentralized asset, it's a hard to track asset, and that means that if you start to create a vehicle, in this case, an ETF that allows the masses and the general public easier access to this volatile cryptocurrency, basically, what might the repercussions of that be. Cybersecurity was one of them. Hacking was one of them. So it's only kind of ironic on a day where, or I guess the day before, where largely the expectation was that the SEC would actually give some sort of approval. That expectation also shared, by the way, by our Bloomberg Intelligence ETF team, that this is exactly how it all plays out on by the way, a social media platform owned by Elon Musk, who himself has been quite an advocate for the cryptocurrency, and he's also been at loggerheads with SEC chairman Gary Gensler in the past, not just about crypto but about his own trying to get Tesla to go private. We remember that four to twenty tweet a while back, and the history that Elon Musk has with the SEC. Yeah, and ironically, the SEC is now going to be investigating themselves for the idea of simply did the call kind of come from inside the house at the end of the day, because it's been investigated from the social media platform from ex's perspective about the actual hack itself, and it's been found out that it's actually wasn't a flaw in the platform itself. In fact, someone got a home hold of a number associated with the account. Because the account did have two factor verification, they were able to post something like this. But now there's a big question about whether that person or that individual or the organization was within the SEC. And for that ironically, again, the SEC now investigating themselves for market manipulation because it did move billions of dollars in cryptocurrency. Yeah, it's more than just an irony. It's raising a lot of questions about a security in and of itself within the SEC. Does this affect the timeline for whatever the SEC is going to decide about bigcoin ETFs to have this kind of hiccup, So the expectation is that it shouldn't affect the timeline. So by the end of today, basically we should get an actual decision by the SEC about whether they or not they approved or at least make a decision on at least one of the etf that a filed. Remember we have I believe six that are currently the attention is on. It could paved the way for plenty more after that, So it shouldn't change the timeline. If it does, however, it would be one to mark for the history books, because never in history of the SEC's approval process for ETF regardless of whether it's a Bitcoin ETF or just a different kind of asset class. Do they reject ETF this late in the process. And that's why you start to see a lot of the consensus again, including Bloomberg Intelligence saying that this ETF process for Bitcoin should be a no brainer simply because they wouldn't have let it get this far if approval wasn't in the cards. Is this going to raise questions about the approval process itself? To have this kind of question raised about what when the approval happened? After seeing that Errent tweet yesterday, I think it won't necessarily change the approval process because this was something that the SEC has been very outfront about, very transparent about about their concerns about Bitcoin in particular. I think it might create a little bit more of a hesitancy on the investor standpoint, because this was supposed to be the moment where you kind of let open the floodgates for a lot of people to get that easier access to cryptocurrency and more easily included in their portfolios. But that might now be met with a little bit more hesitancy because it reups, a lot of those issues of security, who's behind it, who's involved, and frankly, the fact that it is a decentralized currency and you can't track it, which is why it's so hard, even in this particular scenario to say who is behind this the cyber attack. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six one in Boston, and Bloomberg nineteen sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Serriusxmbiheartradio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg Daybreak

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