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Amy King hosts your Monday morning Wake Up Call. ABC News correspondent Jordana Miller joins the show live from Jerusalem to discuss a new round of talks on Iran's nuclear program. Author and futurist Kevin Cirilli joins the show to talk about what the future has in store for us. ABC News reporter Jim Ryan discusses a measles outbreak prompting a shift in vaccination guidelines and the passing of Pope Francis. Bloomberg Media's Dan Schwartzman shares the latest in business and Wall Street. The show closes with Amy talking with ABC News national correspondent Steven Portnoy about SCOTUS blocking deportations under the Alien Enemies Act.
Amy King hosts your Monday Wake Up Call. ABC News correspondent Jordana Miller joins the show live from Jerusalem to discuss Hamas saying is will free 6 living hostages and hand over 4 bodies, accelerating Gaza release. KFI Tech Reporter Rich DeMuro joins Wake Up Call for ‘Wired Wednesday'! Rich talks about HP acquiring Humane, Facebook's live video purge, OnePlus Watch 3, and the death clock app. On this week's edition of ‘Amy's on It' she reviews Anora. Dan Schwartzman from Bloomberg Media joins the show to give a stock market update. The show closes with ABC News State Department reporter Hannon Kingston talking about US and Russia in peace talks to end war without Ukraine at the table quite yet.
12/27/24 - Hour 1 Guest host Dan Schwartzman reacts to the Seahawks beating the Bears on Thursday Night Football and is joined by Mike Sando of The Athletic. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/27/24 - Hour 2 Guest host Dan Schwartzman says Michael Vick getting the head coaching gig at Norfolk State is well deserved and is joined by Chris Vannini of The Athletic. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/27/24 - Hour 3 Guest host Dan Schwartzman reacts to Eric Dickerson not wanting Eagles Running Back Saquon Barkley to break his NFL rushing record and is joined by Mike Vorkunov of The Athletic. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/26/24 - Hour 1 Guest host Dan Schwartzman wonders what the Jets need to do get back on the right track and is joined by Draft King's Trey Wingo. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/26/24 - Hour 2 Guest host Dan Schwartzman wonders if Bill Belichick can make a difference at North Carolina and is joined by Max Chadwick of Pro Football Focus. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/26/24 - Hour 3 Guest host Dan Schwartzman talks about the NBA ratings being down and is joined by Senior Writer for NBA.com Steve Ashburner. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
11/29/24 - Hour 2 Guest host Dan Schwartzman wonders what team will be the right fit for Lions Offensive Coordinator Ben Johnson if he decides to become a head coach. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
11/29/24 - Hour 3 Guest host Dan Schwartzman is joined by NFL Fox Writer Jordan Schultz to talk about head coach openings in the NFL and PFF Data Analyst & Co-Host of The PFF College Football Show Dalton Wasserman joins the program to talk who is the best college football quarterback for the NFL Draft. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
11/29/24 - Hour 1 Guest host Dan Schwartzman reacts to the Bears play calling at the end of the 4th quarter against the Lions on Thanksgiving and Pro Football Talk's Josh Alper joins the program to talk about the Bears parting ways with Head Coach Matt Eberflus. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball The Jim Jackson Show: https://podcasts.apple.com/us/podcast/the-jim-jackson-show/id1770609432 No-Contest Wrestling with O'Shea Jackson Jr. and TJ Jefferson: https://podcasts.apple.com/us/podcast/no-contest-wrestling/id1771450708 Learn more about your ad choices. Visit podcastchoices.com/adchoices
Today on the show: VP Harris brought out the big guns last night in Atlanta, will it move the needle? There's a chance neither candidate gets to 270 electoral votes. What happens then? Geoffrey Skelley from 538 explains. CBS News Radio Correspondent Jim Krasula live in North Carolina with the latest on #Helene recovery. Dan Schwartzman from Bloomberg on sky high #WorldSeries ticket prices. Political Analyst Bill Crane joins us live. Plus, giving away more tickets to see Dave Chappelle and Killer Mike GTO! 9am-noon on 95.5 WSB.
Today on the show: VP Harris brought out the big guns last night in Atlanta, will it move the needle? There's a chance neither candidate gets to 270 electoral votes. What happens then? Geoffrey Skelley from 538 explains. CBS News Radio Correspondent Jim Krasula live in North Carolina with the latest on #Helene recovery. Dan Schwartzman from Bloomberg on sky high #WorldSeries ticket prices. Political Analyst Bill Crane joins us live. Plus, giving away more tickets to see Dave Chappelle and Killer Mike GTO! 9am-noon on 95.5 WSB.
Today on the show: VP Harris brought out the big guns last night in Atlanta, will it move the needle? There's a chance neither candidate gets to 270 electoral votes. What happens then? Geoffrey Skelley from 538 explains. CBS News Radio Correspondent Jim Krasula live in North Carolina with the latest on #Helene recovery. Dan Schwartzman from Bloomberg on sky high #WorldSeries ticket prices. Political Analyst Bill Crane joins us live. Plus, giving away more tickets to see Dave Chappelle and Killer Mike GTO! 9am-noon on 95.5 WSB.
On today's podcast: 1) Investigators probing the fuselage blowout on a Boeing Co. 737 Max 9 on Jan. 5 determined that the door plug moved upward before ejecting and that fittings holding the part in place came loose, as the two US carriers operating the now-grounded aircraft said their own maintenance checks uncovered loose bolts on the parked jets. 2) Donald Trump's lawyers will spar with federal prosecutors Tuesday in a high-stakes court battle to determine if he is immune from charges of trying to overturn the 2020 election because he was president at the time. 3) US lawmakers demanded answers from the Pentagon after Defense Secretary Lloyd Austin failed to notify the White House about his hospitalization for four days, saying they weren't satisfied with the explanation for his absence. 4) The White House's “work is not done” when it comes to lowering prices for American consumers according to the president's top economic advisor, Lael Brainard. That's despite the recent slowing of inflation that has seen the headline consumer price index fall to 0.1% in November. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest developments in the investigation into the door panel blowout on a Boeing seven thirty seven Max nine. Bloomberg's John Tucker is here with the latest, John and Nathan. More and more of the focus is turning to bolts and whether they were properly tightened, as the NTSB tries to find answers to how that unused door panel blew off that Alaska Airlines Boeing seven thirty seven Max nine over Portland. Another airline says it's found loose bolts. United confirms it found loose bolts after inspecting identical door plugs as the one that blew out on the Alaska plane. NTSB chairman Jennifer Hamendi, we are aware of the reports of that are coming back from the inspections from United and Alaska and Boeing. Our team is collecting that information and there will be some follow up from the inspections. It's unclear how many loose polts were found. The NTSB may now broaden the probe into other Max nine jets beyond the Alaska Airlines model on which the accident occurred. It intensified scrutiny of the manufacturing process at Bowling and its key supplier, Spirit Aerosystems, which makes the fuselage for the seven thirty seven Max. I'm John Tucker, Bloomberg Radio. All right, John, Thanks well. Another major story that we're following this morning involves a high stakes court hearing in Washington, d C. Lawyers for Donald Trumpell's spar with federal prosecutors over whether the former president is immuniform charges of trying to overturn the twenty twenty election results. Bloomberg's Amy Morris has more from Washington. Oral arguments are set for today before a three judge panel with the US Court of Appeals for the d C Circuit over whether Donald Trump is shielded from prosecution for his actions before and during the January sixth riot at the US Capitol. Now Trump said on social media he planned to attend, but he is not expected to address the court. The judges could hand down their ruling at any time after the hearing, and a ruling in favor of Trump could be a fatal blow to the Justice Department's efforts to try him. While either side has the right to appeal. Neither the full DC Court nor the US Supreme Court are required to take the case, so this Court's ruling could be the final word in Washington. Amy Morris Bloomberg Radio, Okay, Amy, thank you will staying in Washington. Bipartisan anger is building against Defense Secretary Lloyd Austin. We get that story from Bloomberg's Dan Schwartzman. Politicians on both sides of the isle are demanding answers as to why Defense Secretary Lloyd Austin failed to let anyone know he was hospitalized on New Year's Day. The retired general didn't even let the White House know he was at Walter Reed Medical Center for four days, depending on a day after that. Austin was hospitalized, but did not tell the White House, Congress, or even the deputy Defense Secretary for several days. Republican Senator Susan Collins Remaine says it's quote inexplicable that the Secretary's condition remains shrouded in secrecy, while Massachusetts Democrat Seth Mulden says this astounding that the president in Austin's own deputy did know he was in the hospital. According to White House spokesman John Kirkby President Biden has no plans to replace Austin. Dan Schwartzman Bloomberg Radio. All right, Dan, thanks now to the latest developments in the Middle East. Secretary of State Anthony Blncoln says, who the militants will face consequences if they continue to attack ships in the Red Sea, he told reporters, and more violence will be detrimental for the region. It's clearly not in the interest of anyone Israel Lebanon Hasbola for that matter, to see to see this escalator and to see an actual conflict, and the Israelis have been very clear with us that they want to find a diplomatic way for it. Secretary of State Anthony Blincn meets with Israel's leader Benjamin and Yahoo later today. Let's turn back to markets now, Karen, As you mentioned, futures are lower following yesterday's rally on Wall Street that saw the Nasdaq surge more than two percent. In Asia, the knee Can in Japan closed at its highest level in thirty four years. Me and mole Nathan. Former bond king Bill Gross is signaling he is now steering clear of treasuries in a post on x gros said ten year treasury yields at four percent are overvalued. Gross made millions late last year after a big bet the Fed would pivot toward interest rate cuts for twenty twenty four. Well Karen, the President's top economic advisor, says the White House's work is not done when it comes to lowering prices for American consumers. Lyyle Brainerd spoke with Joe Wisenthal and Tracy Alloway on the Bloomberg Godlots podcast. Some prices have not come down, and we're fighting pretty hard to get those prices to come down. One area that really is difficult for Americans is healthcare. White House Economic advisor Lyle Brainerd ads the administration will use its position to continue calling out corporations who aren't passing along cost savings to consumers. For the full conversation, download the latest edition of Bloomberg Odd Lots that's available everywhere you get your podcasts. And Shares of Nvidia closed at a record high. The company's chip technology dominates in data centers used to create artificial intelligence software where now in Nvidia's announced new products to help the personal computer industry lower consumers with AIPCS. Another chip maker in the spotlight this morning, Nathan Samsung Electronics has posted at six straight quarter of declining operating profit. The results underscore how demand for smartphones and the memory chips remained sluggish given economic uncertainty, and shares of Match are up more than eight percent in early trading. That says The Wall Street Journal reports Elliott Investment Management has built a stake of about a billion dollars in the dating app company. Time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. Homeland Security Secretary Alejandro Orcis was an eagle pass taxes to meet with elected leaders and border patrol agents at the southern US border. Now, he says it's too early to tell if the significant drop in border crossings over the past week is related to the holiday season or stepped up enforcement operationations in Mexico. Our immigration system is outdated and broken and has been in need of reform for literally decades. On this, everyone agrees. Arizona Senator Kirsten Cinema, an independent who has been central in negotiations, says She's not sure whether text is going to be available, but she hopes there will be something to present this week. House Republicans are pushing to impeach may orc As Senate Republicans want him to help cut a border security deal. President Biden meanwhile moving to win back black voters. Bloomberg's Nancy Lyons has more on his trip to South Carolina. President Biden delivered remarks at Mother Emmanuel Ame Church in Charleston, South Carolina, where white supremacist killed nine people in twenty fifteen. Biden says, our country must deal with racism. It is a poison throughout our history. Driptest nation apart, says no place in America, not today tomorrow. Ever, Biden's favorability among black voters in seven swing states has slipped so seven percentage points since October to sixty one percent in December. That's according to a Bloomberg News Morning Consult poll in Washington. Nancy Lyons Bloomberg Radio. Now. Former President Trump wants his supporters to give him a definitive win in Iowa, even with a commanding, leaving the polls with less than a week before the caucuses. Trumps stressed turnout the people of this state are going to cast the most important vote of your entire lives. I believe that too very much. I used to say that twenty sixteen, and I believed it then, and now I believe this is even much more important. The Trump campaign believes a decisive Iowa victory would put pressure on his GOP rivals to drop out. Florida Governor Ron DeSantis and former South Carolina Governor Nikki Haley have failed to gain much significant ground in the Iowa polls against Trump. Next up New Hampshire January twenty third. That's where Nicki Haley has been gaining more momentum while still trailing Trump. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I Mamy Morris and this is Bloomberg Karen righting me. Thank you. We to bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app Bloomberg dot Com plus Apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Karn. The Michigan Wolverines national champions in college footwall in Houston. They beat Washington thirty four to thirteen. It was a quick start for Michigan. First two possessions were both Donovan Edwards touchdown runs. They covered forty one and forty three yards. Michigan didn't get into the end zone again until the fourth quarter. Blake Korum scored capping a seventy one yard drive, and later Quorum scored again, coming after Mike Stanisil's eighty one yard interception return. Washington star quarterback Michael Pennix junior twenty seven of fifty one, did have two interceptions. Mission goes fifteen to zero, wins the national title for the first time since nineteen ninety seven, and the question now is if Jim Harbar returns as coach or heads back to the NFL. The Washington Commanders looking for a new coach after they had the second worst record in the NFL. They've got new ownership and Ron Rivera fired after four years on the job. Carolina Panthers already knew they were looking for a new coach now at GM as well as the Panthers fired to the manager Scott Fitterer. Celtics got forty points from Jalen Brown, but lost at Indiana one thirty three to one thirty one. The Pacers lost their star player Tyrese Haliburton a hamstring injury. He's headed for an MRI. John Moran is headed for a season ending shoulder surgery. Memphisis star guard was suspended for the first twenty five games of the season and ends up only playing nine games on the year. Wizard's thirtieth loss to the year beaten by Oklahoma City one thirty six to one twenty eight. The Bruins lost at Colorado four to three in a shootout. John Stash Edward Bloomberg sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Sirius, Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager Boeing is working to get at seven thirty seven Max nine Jets back in the air after the FAA ordered them temporarily grounded following last week's door panel blowout. But the investigation into the cash cow for Boeing is finding more installation issues maybe than just the ones on that Alaska Airlines flight. For more, we're joined now by Bloomberg News Global Aviation head Benedict Campbell. Thanks for being here, Benedict. Get us caught up on the investigation so far. Good morning. So we heard from the NTSB again yesterday, the holding daily press briefings to give the latest update. And what we heard yesterday is that indeed they are still focused on this particular Alaska aircraft, but they've said that they might well be looking more deeply at other aircraft broadly, more broadly than just the seven three seven Max nine. Right now, the focus remains very much on that door panel, on that plug as they call it, that came flying out, and they're trying to determine what exactly caused that component to come loose. One thing that they did say was they are focused intensely on the bolts that are sort of a fixing that particular component. And speaking of bolts, we have heard from United Air and from Alaska that they've found some loose bolts on their aircraft, so obviously that's sort of the area around which the investigation is focused right now. How unusual is it to see these signs of improper tightening on an aircraft like this? Is this part of the reason why we're getting these suggestions that the investigation could go beyond the Max nine Absolutely, and this is obviously something you don't want to find on an aircraft. Is something that they have found, not just in this case, but also in previous sort of investigations where they looked at improper manufacturing. We had a misaligned drilling holes on some seven three sevens last year. Then we had some loose bolts in another part of a plane. So these defects appear to come up again and again. And you have to remember the Max, the seven three seven Max has a very sort of fragile reputation after these two crashes that happened almost five years ago. A lot of people still somewhat squeamish about that aircraft and an Abbus not Abbus Boeing have managed to repair that reputation, but somewhat fragilely. And the question now is will that pull them back into a hole. How can they emerge from that? Those are a lot of things they're trying to work through right now. Yeah, it raises the question about whether Boeing could be running into a crisis of confidence with flyers. Is that the concern for Boeing? That is very much the concern. I mean, we've seen the crisis of confidence on the side of the investors. If you look at what happened with the stock yesterday took a deep tumble. Spirit Aerosystems, that's the company that makes the fuselage for the seven three seven is by An is by far Boeing's most important supplier. They also dropped quite sharply yesterday. So there is a real crisis and confidence For the time being, it's the focus is very much sort of on the investor side, on the financial side. But if this spreads into a bigger crisis, say the flyers, the flying public, and then the customers ultimately, that will obviously be something very hard for Boeing to get back from. This had been the year, or supposed to be the year of the great comeback of Boeing. They've they've had a couple of difficult years, as I said, but they'd managed to get their manufacturing back in order, the orders and deliveries are back. They'd planned to really increase the output rate of the seven three seven. All of these things were sort of what lay ahead for them for this year, and right now it looks as if things will certainly low down for them quite a bit. The FAA, which is the regulator in the US, they're saying, not so fast. We want to make sure this plane is ready to fly again before we can unground it, and Boeing has to sort of comply with that. Is this something that could put the relationship between Boeing and Spirit Aerosystems in jeopardy? I mean, where could the blame potentially lie for this? Got about a minute left. It's a difficult relationship that these two companies have. Spirit used to be part of Boeing. Then it will spun out, but they're still very much sort of entwined and then locked in a slightly unhappy marriage here. They obviously Boeing needs to have very close quality controls at Spirit to make sure that the products that get shipped over to Boeing meet their standards, and that's something that hasn't always been the case in the past. So Boeing really needs to tighten the screws, as it were, on Spirit and make sure that they have the right people there, they have the right controls. There's new management at that company. Ultimately the buck stops with Boeing. They need to have the final sign off on the plane. You can blame Spirit and point your finger as much as you want at them, but the plane is ultimately sold by Boeing, so they need to make sure that the network is up to snuff. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the new you need to start your day right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.
1/1/24-Hour 1 Guest host Dan Schwartzman is joined by Howard Balzer of PHNX to talk NFL. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/29/23-Hour 1 Guest host Dan Schwartzman is joined by Steve Wyche of NFL Network. The Cleveland Browns clinch a playoff berth, the NFL coaching carousel, and Ja'Marr Chase talks about the Chiefs secondary. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/29/23-Hour 2 Guest host Dan Schwartzman is joined by Mike Vorkunov of The Athletic. The Detroit Pistons' losing streak reaches 18 games. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/29/23-Hour 3 Guest host Dan Schwartzman is joined by Keith Law of The Athletic. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
On today's podcast: 1) Maine's secretary of state ruled that Donald Trump cannot run in the state's Republican primary, citing his efforts to overturn the 2020 election results. 2) The US military is trying to reassure shipping companies that a multinational force is making it safe to sail through the Red Sea and Suez Canal even though attacks from Yemen-based Houthi rebels show no sign of stopping. 3) Nvidia Corp., the world's most valuable chipmaker, is selling a less-capable version of its best graphics product for video gamers in China, after the US government tightened restrictions on what the company can market in that country. Full Transcript: Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. Let's begin with politics and another ban for Donald Trump. Maine's secretary of state has removed the former president from the Republican primary ballot ahead of the twenty twenty four election. Details this morning from Bloomberg's Ed Baxter, Secretary of State Shedd of Bellows, is using the insurrection clause to become the first election official to take unilateral action. Bellow says insurrection for his activities in the January sixth election overturn riots. The Trump campaign says it will appeal in Former Congressman John Katko says it should go to the top. It's got to go to Supreme Court. Several states and now I had this ruined. So the Supreme Court's going to set the parameters of what we do with situationally like this going forward. So the US Supreme Court should have a number of cases now from which to choose on the issue. At Baxter Bloomberg Radio, All right, ed, Thanks, And ahead of yesterday's decision, presidential campaign blasted main Secretary of State Shenna Bellows, colloring her hyperpartisan and a virulent leftist. Trump's campaign says it will quickly seek to appeal her decision in Maine State court, and turning down to geopolitical news, half of containerships which regularly use the Suez Canal are avoiding the route and the recent attacks by the houthy militants of the Red Sea. Data compiled by Flexport shows two hundred and ninety nine container ships have either changed course or planned to That accounts for eighteen percent of global trade. Mercury Resources CEO Anton Posner says many major firms want to know more about the US response to the attacks. We're seeing increased freight, increased insurance, a lot of uncertainty, and mixed signals from shipowners, container lines, and from governments on what's happening. To basically mitigate the risk and the threats that are out there, phonesium in the ardent groups. Mercury Resources CEO Anton Post nurses some companies are your puting off decisions until the new year, as at tax continue. The US says it's speaking with shipping firms in an attempt to ease the concerns, and Johnny also continued to follow developments in Ukraine, Russia launching deadly strikes on civilian targets in Ukrainian cities overnight. It came days after Russia reported one of its ships in Crimea was damaged by Ukrainian missile strike, with Kiev stepping up attacks against Moscow's navy, and as we enter the new year, Ukraine's pleating with foreign donors to send aid a mid uncertainty over its twenty twenty four budget and turning down to the markets and the final day of the twenty twenty three rally with the investors anticipating FED rate cuts in the new year. The S and P five hundred cap yesterday's session just a few points away from its all time high. This year, the S and P five hundred is up almost twenty five percent, with the MSCI All Country World Index rallying about twenty percent. Mona Mahajan, the senior investment strategist with Edward Jones, says the rallies broadened over the final bonds of twenty twenty three year really driven by that magnificent seven a large cap technology trade, and over the last few weeks we have seen a broadening of participation, whether it's value cyclical parts of the market, whether it's small and MidCap parts of market, whether it's bond markets, all of which have played some catch up in recent weeks. Mana mahajin with m Where Jones says signs of cooling inflation and anticipation of a FED pivot continued to drive the rally forward and oversus this morning, John European stocks eking out one last gain on the final trading day of the year, but it's not all good news specifically in the UK, and Bloomberg. Stephen Carroll joins us with more from London. Good morning, Stephen, Good morning, Karen and John. Inflation has slowed sharply in the UK in recent months, but consumers are increasingly worried about the year ahead. A KPMG survey shows four and ten people are more concerned about their financial security now than they were a year ago, while data from Barcleycard indicates households are cutting back on things like clothing and eating out. All of that raising fears of a consumer that could tip the economy into session. When relative bright spot the latest house price data from nationwide showing prices fell less than two percent in twenty twenty three, defying expectations of a sharper downturn in London, Stephen Carol Bloomberg Radio, thanks Steven and In a banner year for stocks, the Nasdaq scept for its best year since nineteen ninety nine after his seven trillion dollar search artificial intelligence mania driving the run for the tech heav engauge from Nvidia to Microsoft, the seven largest US tech stocks, the Magnificent Seven, were responsible for sixty four percent of the nanstac rally this year. The index is up over fifty percent in twenty twenty three. And speaking of Nvidia, John the chip making giant is selling a hobbled version of a gaming chip to its Chinese customers. Bloomberg Tech reporter Ian King says the move comes after the US government tightened restrictions on what the company can market there. Really what matters is what happens in the AI accelerator market, and Video said it's going to have new tips for that business for China to meet these new rules. We don't know when that's coming, orisindeed if that will actually come, and that will have a much more concrete impact on revenue and bloombergsing and King says, this version of Nvidia's chip for China's market has about ten percent fewer processing cores than what it sells in other countries and elon Musk acts formally, Twitter lost its effor in court to block at California loss seeking to control toxic posts. More from Bloomberg's Charlie Pellett. In an eight page ruling of federal judge in Sacramento rejected arguments by the company formerly known as Twitter that the measure violates the free speech rights of social media platforms. The ruling comes after Musk ignited a firestorm in November by endorsing anti Semitic posts on his platform. X Corps CEOs scrambled to contain the fallout after major advertisers like Sony, Discovery, Apple, and CBS stopped or paused spending on the site. In New York, Charlie Pellett bloom Radio, it is time now for a look at some of the other stories making news around the world and for that were joined by Bloomberg's Amy Morris, Amy, Good Morning, Good morning, Karen. The Biden administration is warning Texas about its new immigration law to deal with illegal migration, Bloomberg's Nancy Lyons reports in a letter. The Justice Department reportedly says it will file a lawsuit against Texas if it implements the law that would empower state and local law enforcement officials to arrest, jail, and prosecute migrants suspected of entering the US ilegally. CBS News reports the DOJ says the law would basically criminalize actions that are already illegal at the federal level, and would undermine relations with Mexico and prevent officials from enforcing federal immigration laws. The measure is already being challenged by the American Civil Liberties Union that argues the law is unconstitutional. In Washington, Nancy lyons Bloomberg Radio, more US sailors and marines are being moved into the Eastern Mediterranean. CBS for reporting the two amphibious ships carrying fifteen hundred sailors and marines, along with jet fighters, helicopters, and armored vehicles, have transited the Suez Canal from the Red Sea into the Eastern Mediterranean. This gives the US military more ability to evacuate Americans from Lebanon if necessary. Israeli officials have been increasingly vocal with their threats to clear out a buffer zone in southern Lebanon if Hesbella's shelling of northern Israel doesn't stop. President Biden meanwhile says he's devastated to learn another American was killed by AMAS. American Judy Weinstein Hagai, was killed in the October seventh Hamas incursion. Biden vowed to do everything possible to bring home the remaining hostages, including IDF soldier Aiden Alexander from New Jersey. Alexander's mother is calling for her son's return. He's my boy, and every day, every minute of the day, I'm just I'm terrified. There are now six Americans presumed captive in Gaza, and the World Health Organization says it's getting harder to deliver medical supplies and fuel to Gaza because hungry people keep stopping the convoys searching for food. Gaza's health ministry also says dozens of people were killed in strikes across the Gaza Strip yesterday, days after Israeli forces said they'd be expanding operations. The Washington Post reports the director of one hospital says Sunday's attack killed at least eighty people. Global News twenty four hours a day and whenever you want it with Bloomberg News. Now I'm Amy Morris, and this is Bloomberg Karen. All right, Amy, thanks. We bring you news throughout the day right here on Bloomberg Radio. But now, as Amy's said, you can get the latest news on demand, and that means whenever you wanted, just subscribe to Bloomberg News Now to get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's Dan Schwartzman. Dan, good morning, Good morning Karen. The Cleveland Browns clinched just their second trip to the playoffs since two thousand and two with a dominating performance against the New York Jets. Joe Flacco got hit. He rolls out of the head, he runs it, then he crows it and fort caught it head, the thirty head, the twenty head, the fifteen head, the ten head of five past no good head. He vaulted for tag jing board Hot you. That's courtesy of ESPN eight to fifty Radio in Cleveland, behind three hundred and nine passing yards and three touchdowns from Joe Flacco. The Browns improved eleven and five on the season with a thirty seven to twenty win over the Jets. Jerome Ford catching two touchdown passes while David and Joe who gains one hundred and thirty four yards on six catches. Jets fall to six and ten on the season. Week seventeen of the NFL season continuing Saturday with the Marquee matchup in Dallas as the ten and five Cowboys are hosting the eleven and four Detroit Lions. Speaking of Detroit, the Pistons were oh so close to ending their twenty seven game losing streak as they led the Boston Celtics by nineteen points at halftime and at one point by twenty one points before collapsing and losing in overtime one twenty eight to one twenty two. By dropping their twenty eighth consecutive game, the Pistons time the Philadelphia seventy six ers for the longest losing streak of all time, which Philly accomplished between the end of the twenty fourteen twenty fifteen season and the start of the next year. Elsewhere, Nikola Jokich turning in a perfect triple double, not missing from the field or the free throw line in the Nuggets one forty two to one to five, winner of the Grizzlies. That's your Bloomberg Sports update on the ent shportsman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak and good morning. I'm John Tuckery. You did hear. Among our top stories mains Secretary of State rule that Donald Trump cannot run in the state's Republican primaries, citing his efforts to overturn the twenty twenty election results. Let's take a deeper dive into the story this morning. We're joined now by Terry Haynes of Pangea Policy. Always a pleasure to speak to you, Terry. Certainly it's not going to be the last word, and it sets up for what one observer calls an epic constitutional showdown. What is your view? My view, firstly is discount anytime anybody says things like epic. But secondly, John, I think what you have to understand is what listeners have to understand is a little bit of perspective here Colorado. This Colorado Supreme Court, by a four to three decision, made its determination, but its Secretary of State has already said that Trump's going to be on the primary ballot, you know, abbs in some sort of additional action. So if that doesn't confuse things enough. Secondly, what you've got from the main Secretary of State yesterday is kind of an executative version of what the Colorado Supreme Court said, deciding on our own that trum Trump was an insurrectionist, but also understanding that the thing is going to be appealed. Net I wouldn't look for any of these things to stick. The Supreme Court of the United States is almost certainly not going to allow states to decide how to interpret the fourteenth Amendment of the Constitution, or alone denied candidate to federal rights under the Fifth Amendment. So, you know, generally speaking, I think these things are overblown. And the last thing I will say is there's a lot of state and federal courts that have decided in ways opposite of the Colorado and main courts. People need to remember that too. Donald Trump initially ran as a disruptor, and now he seems to be running as a victim. Does this all embolden him or does it give rise to some something along the lines of Trump fatigue. You know, that's a very good question, and I think the answer probably is some of both. The conventional wisdom right now is that this emboldens and empowers him with the electorate. You can certainly see how that might be so instinctively. But at the same time, it also I think adds to the appeal of not Trump Republican candidates who say, look, if you like the conservative policies and have them during Trump's administration, we can have those back, and we can have them without the circus. We're going to find out which of those is true, or potentially whether both of them are true, starting in about three weeks in Iowa, and so you know, we will see. But the attains me not to make a call on that, but I mean, truly we will see. I'm not going to be the expert on the feelings of the Iowa electorate, but the bottom line is is that I underperformed in the Iowa caucuses is going to give rise to a narrative that Trump, it might not be as strong, and the challengers are getting stronger, and that will reinvigorate the race at it to some extent. All right, speaking of challengers, Nikki Haley also making news with what she says or doesn't say, are the causes of the Civil War, namely slavery. How does that play out in the election cycle. I think that's a blip, honestly, John. It's used by and I'm not meaning to to minimize, No, I mean to minimize what she said or how she said it. But I think it's a blip. You know, she did what she needed to do, which was she was trying to make a trying to use a kind of states rights versus federal point about the war to make a case about the tensions that exist today. It was ham fisted, and she took it back, she clarified, and I think that that goes away pretty quickly. Honestly, this is kind of out of left field. Is Joe Biden going to stick with Vice President Kamala Harris as his running mate? Oh? I think so. Yeah. The Biden sees Harris whole including faults, but he would have a devil of a time taking taking her off the ticket at this point, and for that reason alone, I think he won't give us your view of how the election is all playing out. I will refer listeners right back to a very interesting Bloomberg story on the terminal about a Quinnipiac poll that was released on Wednesday that shows Biden and Trump basically the dead heat and the popular poll, but if you add Bob Kennedy to it, it becomes a thirty eight Biden thirty six Trump Kennedy twenty two race. And I point that out only to say that I've been saying for some time that third parties are going to be more invigorated and more important to this presidential race. You're listening to Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one o six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XMVI iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg or DaybreakSee omnystudio.com/listener for privacy information.
12/28/23-Hour 2 Will the Chiefs win the AFC? Plus, how does a team manage to lose 27 straight games? Guest host Dan Schwartzman is joined by Eric Pincus of Bleacher Report. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/28/23-Hour 1 The divorce has begun in Denver. Guest host Dan Schwartzman is joined by Mike Pritchard of VSiN. Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
12/28/23-Hour 3 Guest host Dan Schwartzman is joined by Dave Revsine of the Big Ten Network to talk college football. Also, are the Los Angeles Dodgers a Super Team? Please check out other RES productions: Overreaction Monday: http://apple.co/overreactionmonday What the Football with Suzy Shuster and Amy Trask: http://apple.co/whatthefootball Learn more about your ad choices. Visit podcastchoices.com/adchoices
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. HeSee omnystudio.com/listener for privacy information.
On today's podcast: 1) US futures were steady, with an all-time high this year firmly in sight, and Treasuries gained amid optimism that the Federal Reserve is getting close to cutting interest rates. 2) Legendary designer Jony Ive and OpenAI's Sam Altman are enlisting an Apple Inc. veteran to work on a new artificial intelligence hardware project, aiming to create devices with the latest capabilities. 3) US strikes on targets in Iraq and fresh attacks by Houthi militants on shipping in the Red Sea provided the latest warning signs that the war in Gaza risks expanding into a wider conflict destabilizing the Middle East. Full Transcript: Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. In the markets, the S and P five hundred beginning to day hovering at a record The so called Santa Claus rally has left the index just half a percent off its all time high. Despite warnings about overpot levels, equities continue to power ahead on best. The Fed's going to cut rates as early as March, and Bloomberg's executive editor for Markets Paul Dobson says, there seems to be a lot of momentum in the markets. It may be in anticipation of big New year flows into equity funds and people trying to get a little bit ahead of that. As part of the explanation, I think, you know, we're getting very close to that record high in the SMP, and the market loves the target to chase. Bloomberg's Paul Dobson says if the S and P five hundred completes a ninth straight week of gains, it will be its longest winning streak since two thousand and four. Well in Company News, john Tesla could soon lose its title as the world's leader in electric vehicles. The Chinese automaker BYD's sales or forecast to overtake Tesla this quarter. Katrina Nicholas is Global Business editor for Bloomberg in Asia. BYD makes its own batteries and now it also makes its own chips. That has shielded the company from a lot of supply chain crunches over the years. Remember back in twenty twenty during COVID, we had a worldwide shortage of semiconductors and that snarled a lot of automakers. They couldn't get the chips that they needed to make the cous and Bloomberg Global Business Editor Katrina Nicholas as BYD offers half a dozen higher volume models that costs much less than what Tesla charges for its cheapest Model three sedan in China. Meanwhile, Tesla preparing to roll out a revamped version of its Model Y from its Shanghai plant. Bloomberg News has learned the electric carmaker currently conducting preparation work in China, and mass production may start as soon as mid twenty twenty four. Sources say the new Model Why will have much more obvious exterior and interior changes than the most recent update in October, which anadled a new wheel design and ambient lighting. Well John another high tech company in the spotlight this morning, Apple is appealing a US salesman of its smart watches after the White House refuse to overturn the measure. The company is trying to defend a business that generates roughly seventeen billion dollars a year. Mark German covers Apple for Bloomberg in Los Angeles. Apple's belief is they have a software update up at sleeves that will bring the Apple Watch in compliance with the ITC. And so what Apple has done is they submitted details of this software upgrade to the US Customs Agency and on January twelve, the US Customs Agency will make a decision whether or not to approve the refresh to the watch to make them fix. If they go ahead and approve that and the ITC and other entities and the US agree, the Apple Watch can come back to market and Bloomber's Mark German says the US International Trade Commission determined in October that Apple violated two Massimo health technology patents with a blood oxygen sensor in its watches, and Karen saying in the tech sector, a couple of heavyweights joining forces on the artificial intelligence That's good. Details this morning from Bloomberg's Jeff Bellinger. Legendary designer Johnny Ive and open ai Sam Altman are enlisting a veteran to work on a new artificial intelligence hardware project. Sources say that as part of the effort, outgoing Apple executive Tang Tan will join IVES design firm love From, which will shape the look and capabilities of the new products. Altman, an executive who has become the face of modern AI, plans to provide the software underpinnings. The work marks one of the most ambitious efforts undertaken by IVES since he left Apple in twenty nineteen. The designer is famous for the products he helped devise under Apple co founder Steve Jobs, including the iMac iPhone and the iPad. His hope is to turn the AI device work into a new company, but sources say development of the product's remains at an early stage. Jeff Bellinger, Bloomberg Radio. All right, Jeff, thanks, Now we turn to the latest developments in the Middle East. US strikes on targets in Iraq and fresh attacks by hu They militants in the Red Sea, providing the latest warning signs that the war in Gaza risks expanding into a wider conflict of stabilizing the region. Ras Madison is news director for Europe, the Middle East and Africa for a Bloomberg News. You've got all these groups operating in the region, supported by Iran, who are carrying out sort of unilateral attacks on targets throughout the region, including these shippers, and of course Iran sort of warning increasingly that this does increase the risk that they get drawn in. It also increases the risk that the US militarily gets drawn in because of course they're having to shoot down a bunch of this stuff as it's flying around the region targeting this shipping. And we're talking about a coalition of military ships in the region potentially to escort some of this commercial shipping through, and so all of that adds to environment of high tension in Bloomberg's ras Madison says. Benjamin Netanyahu says Israel will expand it's Garza ground defensive in the coming days, despite international efforts to halt the fighting and back here at home care on. Thousands of migrants and asylum seekers are moving north toward the American border. As tom US officials prepared to meet with Mexico's president. That story this morning from Bloomberg's and Baxter. The caravan has reached Chiapas, Mexico, thousands carrying signs that say exodus from poverty. The caravan hopes to reach the border as Secretary of State Anthony Blincoln and Homeland Security Chief Alejandro Majorcas meet with Mexican President Andres Manuel Lopez Odador. The State Department says item one is quote unprecedented irregular migration in the Western hemisphere. Now, the US says the parties need to address border security challenges and identify ways for Mexico to help in the fight. Some of the caravan have traveled from as far away as South America. At Baxter Bloomberg Radio. All right, thanks Karen, and that brings us to five oh seven Time down for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning John. Several pro Palestinian protesters were arrested after swarming Rockefeller Center, Grand Central and other areas of the long holiday weekend. Police arrested at least a half dozen people for disorderly conduct menacing at graffiti now In New York City, Mayor Eric Adams says there's always a serious concern about safety in Time Square. On New Year's Eve, he says there's an added concern protesters will disrupt more celebrations after pro Palestinian supporters tried to spoil the Rockefeller Center Christmas tree lighting over this past year. The police department did an amazing job doing the tree lighting to mitigate any form of major disruptions, and they're going to do it this year. Adam says NYPD will monitor online chatter. Top Biden administration officials are in Mexico today to discuss the influx of migrants. More on this from Bloomberg's Nancy Lyons. US Secretary of State Anthony Blincoln in Secretary of Homeland Security Alejandre Mayorcis will meet with Mexican President andres Manuel Lopez Obrador to address the ongoing border security challenges and what each country can do to alleviate the problem. B Lincoln's office notes the migration across the southern border has been unprecedented. B Lincoln is expected to focus on creating legal pathways into the US as well as additional enforcement in Washington. Nancy lyons Bloomberg Radio Now, one of Mayor Adam's main focuses next year will be trying to get the federal help on the migrant crisis. I have to keep hammering away at this issue, and I'm really pleased that we are now in the chorus of other cities that are joining us. There are currently sixty eight thousand asylum seekers in New York City's care right now. And a new program would allow New York City to direct money to new construction after a tax incentive favorable to developers lapsed last year. The New York Times reports the plan would direct public money toward mixed income housing projects in wealthier neighborhoods. The hope is that developers will produce more affordable units using the income from those high rent market rate apartments. The Global News twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm maybe Morrison. This is Bloomberg John. All right, thanks Amy, and that brings us to five ten on Wall Street. Time down for the Bloomberg Sports Update. And for that, here's Dan Schwarzman. Good Morning John. Week seventeen of The NFL season kicks off tomorrow in Cleveland as the Browns are hosting the Jets. Cleveland is ten and five, Jets coming at six and nine. Jets head coach Robert Salad talking about how the Jets can take some inspiration from Cleveland season. They're doing a really nice job. Defensively, they're playing at an eightee level, very similar. Special teams are doing very well. But for sure, we'll definitely look at some things in areas where we can be better, so in the event this happens again, we can keep the vote above water and just kind of replicate what they're doing. That's courtesy of Jets dot Com. Trevor Simeons starting at quarterback for the Jets. Joe Flacco for the Browns. GA in the NBA to Detroit Pistons, setting a record for most consecutive losses in a single season in league history as they dropped their twenty seventh in a row, losing to the Brooklyn Nets won eighteen to one twelve, Cameron Johnson leading the Nets with twenty four points. Elsewhere in the league, futility in Washington as the Wizards are five and twenty four, losing to the Magic one twenty seven to one nineteen, while the Spurs are only four and twenty five after a one thirty one to eighteen home loss to the Jazz. The Nets added again tonight as their home for the Milwaukee Bucks, while the Knicks are on the road facing the thunder in Oklahoma City. The three day NHL Christmas Holiday is over most of the league in action tonight. The Rangers home for the Washington Capitals. Devil's welcoming in the Columbus Blue Jackets. It's the Boston Bruins on the road of the Buffalo Sabers, while the Islanders are home for the Pittsburgh Penguins. That's your Bloomberg Sports update on Dan Schwartzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm John Tucker. We are looking at the risk of a wider Admit East war. This morning. Fresh attacks by Houthi rebels shipping in the Red Sea provided the latest warning signs. Let's get the update this morning, and I'm happy to say. We're joined by Bloomberg's Rob Mathieson, the news director for Europe, the Middle East and Africa. Ro's nice to talk to you again. It's not anything new attacks in this region. What is different this time? Well, that's right. The attacks and themselves are not that new. They have been a patent for many years now in this sort of narrow area of water in the Red Sea. And of course the Houthies who are based in Yemen but bat by Iran sort of quite often targeting shipping in the area, but again sort of harrying them more than sort of causing serious damage. But what we're seeing is an escalation in that pattern of attacks in the backdrop of the war between Israel and Hamas in Gaza. And we're also seeing it come against the backdrop of those other attacks that are going on, strikes against US forces who are based in Iraq, retaliatory strikes against groups that are operating in Iraq, all of those groups in the end sort of seemingly linking back to Iran, which says it's not trying to disrupt commercial shipping in the area, but neither is it seemingly raining in these groups that it supports and so all of that comes at a moment of high tension in the region. You've got significant military forces operating. The US Navy is in the area, other countries sending naval ships to try and support shipping that's passing through, and so the possibility of sort of a broader conflict does exist as a result, although so far we haven't seen that happen, and Iran has sort of urged some restraint itself. In a climate where you just have shipping in such close proximity, the possibility of a broader conflict cannot be ruled out. Is this going to draw in other actors at this point, Well, there are multiple actors on this sort of the Iran supported side already involved in different ways. Obviously in the conflict itself with Israel. You've got Hesblah still lobbying things from the across the Lebanon border. You've got the Huthi's operating out of Yemen. You've got groups operating out of Iraq, so they've got quite a few proxies at the moment for Iran operating in the region. On the other side, you've got the US Navy quite actively trying to support shipping shooting down drones and other rockets as they're firing through the air from Yemen. You've got other countries sort of saying they want to send their ships to support, and this talk this plan for sort of a naval support task force that's going to support shipping and deter further strikes in the region. You've got India talking about sending warships. So again, you've just got an awful lot of actors involved, none of whom who want really to end up in an outright conflict. But again, with so much shipping in close proximity, be it commercial shipping and naval shipping, the possibility of an accident even cannot be ruled out. Yeah, is it likely that the US would be forced to act even more assertively in this region, Well, they're very much not wanting to unless they have to, particularly again when it comes to Yemen. The US has been working hard in recent years to extricate itself from Yemen and of course urging the Saudi Arabians to also de escalate there, and not something that the US President Joe Biden wants to get particularly directly involved in again and certainly doesn't want to get involved in a one on one conflict that involves Ran and so it does exist as a possibility. The US very much doesn't want to end up with boots on the ground in another conflict. They've become very risk averse about that if you see prior history involving places like Afghanistan for example, they don't want to do that. But again, more and more they are engaging directly in support of shipping in the region and shooting down stuff that might be even flying towards Israel from Yemen for example. So at some point it doesn't become a bit moot. Are they sort of involved militarily yes? Are they directly military involved? They would say no, and they don't want to be Whether or not this is your expertise, I don't know. But in terms of the impact on commodities, especially oil for instance, is it kind of surprising we haven't seen a bigger jump in commodity prices as a result of these attacks. Well, we are seeing oil at least being supported as a result of this. You've got brand near eighty one dollars a barrel, it's about the highest level in almost a month. You're also seeing gas prices rise in a way that the commodity that may react more to this is gas because of concerns around restrictions on supply in the region if Iran really got involved in a conflict, and so the immediate concern maybe less about oil and how much needs to be shipped through that region or how much oil can come from Iran, but really the concern is about a possible impact on gas. We saw some gas fields in fact out of operation in the early days of this conflict between Israel and her mask that was out of an abundance of caution, and they have now resumed operation. But really the commodity that may react the most of this is gas, and that's one that we're watching closely. Today. You're listening to Bloomberg Daybreak. Today you're warning brief the story is making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in the New York, Bloomberg ninety nine one in Washington, Bloomberg one oh six one in Boston. And Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious xmvie iHeartRadio app, and on Bloomberg dot Com. I'm John Tucker and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.
Dan Schwartzman fills in for Rich and keeps you updated with the latest in sports. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich and keeps you updated with the latest in sports. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich and keeps you updated with the latest in sports. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Hall of Fame QB Steve Young joins the Bloomberg Business of Sports after ringing the opening bell on the NASDAQ floor with Movella, a firm he's an investor in. Young talks about his interest in Movella, and why former athletes are moving into private equity. He also discusses recent NFL headlines, including where QB Aaron Rodgers might be heading, and player safety. He speaks to hosts Scarlet Fu, Damian Sassower and Dan Schwartzman. See omnystudio.com/listener for privacy information.
Hosts Scarlet Fu, Damian Sassower, and Dan Schwartzman speak with Carolyn Kindle, the President and CEO of the newest expansion club in MLS Soccer, St. Louis City SC. St. Louis City SC bills itself as the "first majority female-owned club in MLS history and one of the few in professional sports globally. They talk about her journey to owning an MLS club, how soccer will continue to grow in the U.S and is the streaming partnership with Apple TV good for the MLS?See omnystudio.com/listener for privacy information.
Dan Schwartzman is in for Rich Eisen Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman is in for Rich Eisen Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman is in for Rich Eisen Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen. Howard Beck, SI NBA Writer joins Dan to talk about the state of the NBA and who's hot right now. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen. Dan talks about Aaron Judge and which team he might go to or will he stay with the Yankees. More NFL talk. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen. Dan talks to Brian Costello, NY Post NFL Writer. Will the Jets succeed with Mike White at QB or will they need to put Zach Wilson back in? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich Eisen. College Football and the realigning of the conferences. Ben Troupe ESPN Radio Host. College Football conference realignments. MLB All Star pitchers. Who makes it? Pujols and Cabrera named to the MLB All Star Game but why? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich Eisen. NFL names its fifty four HOF finalists. Counting down to the first game in the NFL means the end of summer. Andrew Brandt Sports Illustrated. Wimbledon talk. Nadal is a genuine pro. NFL talk. Do the Seahawks need to trade for a QB? The Jimmy Garappolo situation. Baker Mayfield's relationship with the Browns. Did he burn that bridge? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich Eisen. NHL Draft. It's just not the same spectacle as the NFL or NBA drafts. Gabe Lacques USA Today MLB reporter. Wimbledon final. Djokovic vs Kyrgios. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich Eisen. Baker Mayfield trade. Carolina got the better of the deal. Meredith Marakovits of Yes Network. Covers the Yankees. Meredith cont'd and talks of Aaron Judge and Shohei Ohtani Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich Eisen. NFL Talk. Where does Jimmy Garappolo go? Howard Balzer of Sirius XM NFL Radio. Talking NFL. Jimmy Garappolo. Eli Manning HOF debate. Eli Manning HOF debate cont'd. Will Dak Prescott take the Cowboys to the playoffs? Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman fills in for Rich Eisen. James Caan passes away. Brittney Griner pleads guilty of drug charges in Russia. Political pawn. Brian Mahoney, NBA Writer of the AP. NBA Talk. Summer league. Kevin Durant watch. Nadal out of Wimbledon with an injury. Wimbledon talk. Not enough Americans are represented. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen. Sports contracts skyrocketing. NBA is the most lucrative. Howard Beck Senior Writer Sports Illustrated NBA talk. NBA talk – Kevin Durant to Miami. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen. MLB Talk. Bill Shaikin Los Angeles Times National Baseball Reporter Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman in for Rich Eisen. Tennis – Wimbledon talk, college football – USC and UCLA going to the Big Ten. Joe Person, The Athletic NFL Carolina Panthers reporter. NFL talk – rating the quarterbacks Learn more about your ad choices. Visit podcastchoices.com/adchoices
Fill in host Dan Schwartzman recaps a wild NBA draft in this hour Learn more about your ad choices. Visit podcastchoices.com/adchoices
Dan Schwartzman is in for Rich. Let's talk some NFL Football, the Stanley Cup Final and Yankees Slugger Aaron Judge gets a new deal. Learn more about your ad choices. Visit podcastchoices.com/adchoices
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