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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with the latest comments from President Donald Trump.

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Speaker 3: He gave a wide ranging interview to CBS's sixty Minutes

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Speaker 3: Heard here on Bloomberg Radio that covered his talks with

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Speaker 3: Chinese President Shi Jen Ping, immigration raids in major US cities,

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Speaker 3: and more. The President has said the status of Taiwan

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Speaker 3: never came up in his discussions with she. That prompted

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Speaker 3: this question from correspondent Nora O'Donnell, would you.

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Speaker 4: Order US forces to defend Taiwan?

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Speaker 5: You'll find out if it happens. And he understands the

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Speaker 5: answer to that. This never even came up yesterday as

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Speaker 5: a subject. He never brought it up. People were a

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Speaker 5: little surprised that he never brought it up, because he

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Speaker 5: understands it, and he understands it very well.

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Speaker 3: And on the subject of immigration raids, the president was

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Speaker 3: asked if ice tactics against immigrants and protesters have gone

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Speaker 3: too far.

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Speaker 5: No, I think they haven't gone far enough, because we've

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Speaker 5: been held back by the judges, by the liberal judges

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Speaker 5: that were put in by Biden and by Obama.

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Speaker 3: President Trump repeated his claims that many detained immigrants have

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Speaker 3: criminal records, and he says he could invoke the Insurrection

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Speaker 3: Act to send regular military service members into cities rather

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Speaker 3: than National Guard if he wants to Well Nathan.

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Speaker 2: President Trump also discussed the government shot down now and

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Speaker 2: it's thirty fourth day and on track to be the

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Speaker 2: longest ever this week, the President tells sixty Minutes he

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Speaker 2: won't be extorted, in his words, by Democrats who are

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Speaker 2: demanding an extension of Affordable Care Act subsidies that expire

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Speaker 2: at the end of the year.

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Speaker 5: Obamacare is terrible. It's bad healthcare at far too high

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Speaker 5: a price. We should fix that. We should fix it,

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Speaker 5: and we can fix it with the Democrats. All they

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Speaker 5: have to do is let the country open and we'll

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Speaker 5: fix it.

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Speaker 2: By Democratic Senator Mark Warner says the time for the

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Speaker 2: president to negotiate now.

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Speaker 6: Everyone as of Saturday saw healthcare rates skywark. This is

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Speaker 6: an immediate crisis too. With bloom can we can date

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Speaker 6: and we can deal with this jointly, but it's going

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Speaker 6: to require the active intervention of the president.

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Speaker 2: Senator Warner appeared on CBS's Face the Nation heard Sundays

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Speaker 2: on Bloomberg Radio, sixty minutes airs every Sunday evening at

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Speaker 2: eight pm on Bloomberg eleven three to zero in New York,

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Speaker 2: Bloomberg ninety two nine in Boston, and Bloomberg ninety nine

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Speaker 2: to one in Washington, DC.

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Speaker 3: Well Karen, President Trump also says he will skip this

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Speaker 3: week's Supreme Court hearing on the legality of his worldwide

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Speaker 3: tariff regime. President spoke on Air Force One as he

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Speaker 3: returned to Washington from mar Alago last night.

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Speaker 7: I think it's one of the biggest decisions in the

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Speaker 7: history of the Serviet book. Other countries used tariffs against

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Speaker 7: US if we weren't able to help openly and freely.

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Speaker 7: Elite used tariffs against I'll give you an example of

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Speaker 7: China that was going to be a disaster for the world,

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Speaker 7: and I was able to settle it very quick raised

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Speaker 7: because that example, these.

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Speaker 3: Jars the Supreme Court is scheduled here the President's appeal

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Speaker 3: of a lower court ruling that many of his Liberation

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Speaker 3: Day tariffs exceeded emergency power to regulate imports.

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Speaker 2: On Wednesday, Well, reactions still pouring into the US China

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Speaker 2: trade deal. Nathan, a regulatory advisor to Beijing, says a

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Speaker 2: summit was a breakthrough in bilateral relationships where China was

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Speaker 2: treated as an equal partner of the US. Some other developments,

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Speaker 2: the US is expected to suspend port fees for a

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Speaker 2: year on China linked vessels starting next week, and China

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Speaker 2: will effectively suspend the implementation of new export controls on

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Speaker 2: rare earth metals and and investigations into American companies in

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Speaker 2: the semiconductor supply chain. Still, Treasury Secretary of Scott Besson

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Speaker 2: has worn the US must still be cautious.

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Speaker 8: I think and I hope after the agreement and the

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Speaker 8: good will between President She and President Trump in Korea

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Speaker 8: that we can depend on them to be more reliable

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Speaker 8: partners and the rest of the world can depend on them.

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Speaker 8: But we can't take that chance. We don't want to

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Speaker 8: do couple with China, but we're going to have to.

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Speaker 2: Do risk and Treasury Secretary Scott Besson made the comments

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Speaker 2: on Fox News Sunday.

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Speaker 3: Train to Markets Now. Karen stocks begin a new trading

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Speaker 3: month on a winning streak. The S and P five

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Speaker 3: hundreds gained for six straight months, while the Nasdaq one

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Speaker 3: hundred's done even better. It's up seven straight months. Wall

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Speaker 3: Street's looking at another busy week for earnings, with consumer

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Speaker 3: companies in focus, and we get a preview from Bloomberg's

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Speaker 3: Charlie Pellett.

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Speaker 9: More than half of S and P five hundred companies

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Speaker 9: have reported quarterly results, and Uber and McDonald's earnings will

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Speaker 9: likely underscore deteriorating consumer sentiment in the US. Emily Rowland

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Speaker 9: is co Chief Investment Strategistic Manual Life Investment Management.

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Speaker 4: You know, certainly, earnings have been a huge positive.

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Speaker 10: This earning Season's been spectacular, ten and a half percent

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Speaker 10: earnings growth, eighty two percent beat rate.

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Speaker 9: Also reporting this week, tech Names, Palanteer, Qualcommon, Door, Dash,

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Speaker 9: along with Warner Brothers, Discovery, Pfizer, and Young Brands in

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Speaker 9: New York. Charlie Palett, Bloomberg Radio.

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Speaker 4: Thanks Charlie.

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Speaker 2: One Big Earning's report over the weekend to get you

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Speaker 2: caught up on Warren Buffetts, Berkshire, Hathaway reported a thirty

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Speaker 2: four percent surge in operating earnings. The conglomerates cash files

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Speaker 2: sword to almost three hundred and eighty two billion dollars.

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Speaker 3: Well Oil is moving a touch lower this morning. Karen

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Speaker 3: after Opec Plus announced plans to pause output increases at

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Speaker 3: the start of next year. The group and its allies

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Speaker 3: say they'll raise production by about one hundred and thirty

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Speaker 3: seven thousand barrels a day in December before taking a

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Speaker 3: break from January to March. The move comes as the

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Speaker 3: market contends with growing concerns about oversupply that have driven

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Speaker 3: Brent prices down by a round ten percent over the

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Speaker 3: past three months. This morning, Brent is down about two

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Speaker 3: tenths of one percent, trading below sixty five dollars a barrel.

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Speaker 3: West Texas Intermediate is down two tenths of one percent.

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Speaker 3: It's below sixty one dollars.

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Speaker 2: It's staying with energy here, Nathan, BP as a great

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Speaker 2: vest stakes and US shale assets for one and a

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Speaker 2: half billion dollars as it seeks to shore up its

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Speaker 2: balance sheet and went back investor confidence. BP has pledged

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Speaker 2: to divest twenty billion dollars of assets by the end

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Speaker 2: of twenty twenty seven. Time now for look at some

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Speaker 2: of the other stories making news in New York and

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Speaker 2: around the world, and for that we're joined by Bloomberg's

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Speaker 2: John Tucker.

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Speaker 11: John, Good morning, Good morning, Karen, seven hundred and thirty

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Speaker 11: five thousand New Yorkers have already cast their ballots in

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Speaker 11: early voting, and that has broken the record for a

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Speaker 11: megro election in New York. The early voting ended yesterday

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Speaker 11: with no lack of enthusiasm.

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Speaker 5: Well, I really wanted to vote early because I wanted

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Speaker 5: my kid to be able to vote with me and

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Speaker 5: to see the voting process, and we talked about the issues.

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Speaker 11: Affordability has been the key issue in this race to begin.

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Speaker 11: The city's one hundred eleventh mayor Democratic nominee, Zorin Bamdani

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Speaker 11: is the front runner. Day thirty four, the government shutdown

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Speaker 11: and delays, it getting worse at local airports and Bloomberg's

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Speaker 11: Monica Rix as that story.

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Speaker 12: The Federal Aviation Administration issued a temporary groundstop for some

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Speaker 12: flights to Newark Liberty International Airports Sunday due to staffing issues.

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Speaker 12: But it's not just New Jersey. Thousands of flights were

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Speaker 12: delayed over the weekend over shortages nationwide, and US Transportation

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Speaker 12: Secretary Sean Duffy warrens it's only going to get worse

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Speaker 12: the longer the government shutdown continues.

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Speaker 6: There is a level of risk that gets injected into

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Speaker 6: the system. When we have a controller that's doing two

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Speaker 6: jobs instead of one.

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Speaker 12: More air traffic controllers and TSA agents have been calling

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Speaker 12: out sick rather than working without pay.

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Speaker 4: Monica Rix.

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Speaker 11: Bloomberg Radio Israel announced the remains of three hostages had

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Speaker 11: been handed over from Gaza and would be examined by

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Speaker 11: forensic experts. This is a franchial month o cease fire

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Speaker 11: holds a Hamas statement earlier, so the remains were found

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Speaker 11: in a tunnel in southern Gaza. If please say one

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Speaker 11: of two men arrested in connection with a mass stabbing

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Speaker 11: attack that spread fear and panic on a London bound

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Speaker 11: train Saturday has been released without charge. One person, a

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Speaker 11: heroic member of the railway staff, remains in a life

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Speaker 11: threatening condition. The only remaining suspect is a thirty two

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Speaker 11: year old British man, remains in custody on suspicion of

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Speaker 11: attempted murder. Global News twenty four hours a day and

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Speaker 11: whatever you wanted with Bloomberg News. Now, I'm John Tucker

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Speaker 11: and this is Bloomberg Karen.

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Speaker 5: Thanks Jean.

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Speaker 2: Time now for our Bloomberg Sports update, and for that

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Speaker 2: we bring in John stash Hour.

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Speaker 10: Thanks Daren So Tonight Football was in Washington. Seattle got

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Speaker 10: four touchdown passes from Sam Darnold. The Seahawks beat the

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Speaker 10: Commanders thirty eight to fourteen, and AFC showdowns Buffalo in

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Speaker 10: Kansas City twenty eight to twenty one. Danvers six straight win,

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Speaker 10: four of them have been comebacks in the fourth quarter.

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Speaker 10: The Broncos won eighteen to fifteen at Houston. The Colts

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Speaker 10: loss for just the second time. They turned it over

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Speaker 10: six times in a twenty seven to twenty loss in

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Speaker 10: Pittsburgh and in Jacksonville's overtime win in Las Vegas. Can

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Speaker 10: Little Cake an NFL record sixty eight yard field goal.

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Speaker 10: That's a Bloomberg Sports update.

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Speaker 2: Stay with us. More from Bloomberg day Break coming up

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Speaker 2: after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app.

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Speaker 4: This is Bloomberg Daybreak.

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Speaker 2: And let's start now to a conversation with President Trump.

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Speaker 2: He sat down with CBS's sixty Minutes or It's Sundays

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Speaker 2: on Bloomberg Radio for an extended conversation on the ongoing

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Speaker 2: government shutdown and near Strump. Speaking with CBS's Nora O'Donnell.

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Speaker 13: We are now approaching the longest shutdown in American history.

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Speaker 4: Democrats fault under your presidency.

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Speaker 13: We're talking about more than a million federal workers who

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Speaker 13: are not getting a paycheck, including our air traffic controllers.

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Speaker 13: You see, there's traffic snarls out at the airports now.

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Speaker 13: This weekend, food aid for more than forty two million

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Speaker 13: Americans is set to expire. What are you doing as

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Speaker 13: president to end the shutdown.

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Speaker 5: We what we're doing is we keep voting. I mean,

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Speaker 5: the Republicans are voting almost unanimously to end it, and

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Speaker 5: the Democrats keep voting against ending it. You know, they've

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Speaker 5: never had this. This has happened like eighteen times before.

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Speaker 5: The Democrats always voted for an extension, always saying, give

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Speaker 5: us an extension, we'll work it out. They've lost their way,

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Speaker 5: they become crazed lunatics. And all they have to do,

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Speaker 5: Nora is say let's vote.

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Speaker 4: Senate.

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Speaker 13: Democrats say they will vote to reopen the government if

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Speaker 13: Republicans agree to extend subsidies for over twenty million Americans

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Speaker 13: who use Obamacare for their health insurance.

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Speaker 5: Obamacare is terrible. It's bad healthcare at far too high

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Speaker 5: a price. We should fix that. We should fix it,

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Speaker 5: and we can fix it with the Democrats. All they

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Speaker 5: have to do is let the country open and we'll

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Speaker 5: fix it. They have to me the country and I'll

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Speaker 5: sit down with the Democrats and we'll fix it. But

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Speaker 5: they have to let the country and.

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Speaker 4: You know what that plan to do.

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Speaker 5: All they have to do is raise five hands. We

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Speaker 5: don't need all of them.

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Speaker 13: But so you're saying your plan is to tell the

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Speaker 13: Democrats to vote to.

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Speaker 4: End the shutdown.

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Speaker 5: Correct, very simple, and that.

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Speaker 4: You will put forward a health care plan.

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Speaker 5: No, we will work on fixing the bad health care

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Speaker 5: that we have right now. We have terrible health care

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Speaker 5: at too expensive for the people, not for the government,

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Speaker 5: for the people.

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Speaker 13: You've been talking about fixing the healthcare futures.

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Speaker 5: And you can't do it because of the Democrats.

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Speaker 4: But since twenty fifteen you've said, you've been.

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Speaker 5: Talking about it for a long time. We almost did it.

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Speaker 5: We were one vote short. We would have had great

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Speaker 5: health care.

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Speaker 13: That was in twenty seventeen when Senate Republicans failed by

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Speaker 13: one vote or to partially repeal Obamacare.

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Speaker 5: We can make it much less expensive for people and

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Speaker 5: give them much better healthcare.

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Speaker 4: Where is that plan?

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Speaker 5: Willing to work with the Democrats on it? The problem

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Speaker 5: is they want to give money to prisoners, to drug dealers,

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Speaker 5: to all these millions of people that were allowed to

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Speaker 5: come in with an open border from Biden. And nobody

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Speaker 5: can do that. Don you just one Republican would ever

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Speaker 5: do that?

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Speaker 13: Is if those healthcare subsidies are not extended, premiums will

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Speaker 13: double for many of the people that are on it.

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Speaker 4: I was looking into it.

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Speaker 13: Three quarters of these people will see their healthcare premiums double.

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Speaker 13: Live in states where you won in the last election.

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Speaker 13: I mean even here in Florida has the highest number

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Speaker 13: of residents on Obamacare in the country.

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Speaker 5: And I'm saying we can fix it.

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Speaker 13: No, you have helped end these government shutdowns in the past,

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Speaker 13: what they came about it, and you did it by.

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Speaker 5: Very good at it. I'm not members to do it

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Speaker 5: by I'm not going to do it by extortion. I'm

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Speaker 5: not going to do it by being extorted by the

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Speaker 5: Democrats who have lost their way. There's something wrong with

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Speaker 5: these people.

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Speaker 4: Then what happens.

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Speaker 5: Patient Shumer is a basket case and he has nothing

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Speaker 5: to lose. He's become I just left Japan. He's become

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Speaker 5: a kami kazi pilot.

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Speaker 13: Sounds like it's not going to get solved. The shutdown,

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Speaker 13: it's going.

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Speaker 5: To get sofia. Oh, it's going to get so how

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Speaker 5: we'll get it, sup Eventually they're going to have to vote.

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Speaker 4: You're saying the Democrats will capitulate.

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Speaker 5: I think they have to and if they don't vote,

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Speaker 5: that's their problem. Now I happen to agree to something else.

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Speaker 5: I think we should do the nuclear option. This is

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Speaker 5: a totally different nuclear by the way, it's called ending

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Speaker 5: the filibuster.

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Speaker 13: But to do that, he'd need send a majority leader,

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Speaker 13: John Thune to change Senate rules.

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Speaker 4: Did you see John Thune said today.

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Speaker 5: That No, No, John doesn't. Well, John and a few

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Speaker 5: other but you know what, the Republicans have to get tougher.

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Speaker 5: If we end the filibus so we can do exactly

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Speaker 5: what we want, We're not gonna lose power. The theory is, oh,

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Speaker 5: then we'll do it, but then when they get into

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Speaker 5: power someday they'll do That's true. But you know what,

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Speaker 5: so you think you're here right now? No, I like

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Speaker 5: John Thune. I think it's terrific, but I disagree with him.

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Speaker 4: On this point, he said today he wasn't going to

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Speaker 4: do it.

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Speaker 5: Well, that's too bad.

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Speaker 2: President Trump. There speaking of CBS, as Nora O'Donnell on

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Speaker 2: sixty minutes, you can catch sixty minutes every Sunday at

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Speaker 2: eight pm Eastern on Bloomberg eleven three to yero in

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Speaker 2: New York, Bloomberg ninety two nine in Boston, and Bloomberg

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Speaker 2: ninety nine to one in Washington, d C.

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Speaker 4: Nathan.

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Speaker 3: All right, Karen, thank you. Let's turn back to the

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Speaker 3: nation's capital now and get more reaction to what we

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Speaker 3: just heard from President Trump. Joining us now is Terry Haines,

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Speaker 3: the founder of Pangaea Policy. Terry, it's great to speak

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Speaker 3: with you this morning. Now we are into day thirty

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Speaker 3: four of the government shut down. Did we hear anything

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Speaker 3: new from President Trump in that sixty minutes conversation as

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Speaker 3: to how this ends?

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Speaker 14: Good morning, Good morning, Nathan. I don't think we heard

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Speaker 14: anything new, but I think what we heard was was

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Speaker 14: more transparent and expressed more plainly than the the fog

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Speaker 14: of negotiation, the fog of war that we've heard before.

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Speaker 14: What this is is Trump saying, essentially, I mean, of course,

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Speaker 14: reiterating the Trump and Republican position that they're not going

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Speaker 14: to negotiate the healthcare extension overholding the government, as they

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Speaker 14: would put it hostage. But what Trump is saying very

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Speaker 14: plainly is, look, you can actually have a victory, and

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Speaker 14: I'm interested in having you have one if you end

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Speaker 14: the government shutdown, and I'll engage in negotiations with you

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Speaker 14: to actually to make things better, faster, cheaper. And that's

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Speaker 14: a very plain message to Democrats and something that I

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Speaker 14: think they'll probably consider as a way of declaring victory

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Speaker 14: on this because all they need to do really to

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Speaker 14: end the shutdown is take Republican offers, whether it be

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Speaker 14: from the President here very plainly yesterday, or from congressional

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Speaker 14: Democrats earlier, to negotiate on the shutdown.

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Speaker 3: How do you see that playing out, though, Terry, because

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Speaker 3: it's been more than a month now and the Democrats

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Speaker 3: have held pretty firm on their position that they want

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Speaker 3: to see an extension of those expiring subsidies for affordable

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Speaker 3: health care before they'll agree to to reopen the government.

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Speaker 14: Well, I see it in a couple of ways. One

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Speaker 14: is that I've been saying this since before the shutdown started.

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Speaker 14: I see it a couple of ways. One is that

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Speaker 14: this is not a substanti This is not a substantive

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Speaker 14: position over healthcare. But until about two weeks before the shutdown,

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Speaker 14: it was not clear what grounds the Democrats might use

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Speaker 14: in order to shut the government down, and they eventually

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Speaker 14: picked healthcare because they thought it was a good issue

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Speaker 14: for them. But number one, number two, it's has much

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Speaker 14: more political, having to do with showing the base defiance,

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Speaker 14: showing the donors defiance, that sort of thing. But secondly,

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Speaker 14: I've also said since before the shutdown started that they've

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Speaker 14: set this up to not be about substance, to be technical,

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Speaker 14: and what I mean by that is that this is

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Speaker 14: not about the Democrats position is about how negotiations happen,

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Speaker 14: not whether the negotiations happen. Democrats continue to say that

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Speaker 14: Republicans refuse to negotiate with them on this. The President's

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Speaker 14: interview last night is the clearance evidence yet that Republicans

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Speaker 14: position is that they would like to negotiate this, but

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Speaker 14: they have to do it after the government reopens, not

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Speaker 14: as part of a not part of that process.

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Speaker 3: The issue of snap benefits they were supposed to expire.

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Speaker 3: Over the weekend, there was a judge's decision that indicates

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Speaker 3: that that might not be the case that the food

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Speaker 3: assistants will continue. Could that extend the shutdown?

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Speaker 14: Do you mean the legal wrangle over this, the.

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Speaker 3: Fact that there could possibly be a further extension of

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Speaker 3: food assistants that understood?

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Speaker 14: Yeah, yeah, you know, I don't think so. The you know,

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Speaker 14: the judges will, we'll run back and forth on whether

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Speaker 14: SNAP extensions are required not required. The biggest issue really though,

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Speaker 14: is a political issue, and you know how much more

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Speaker 14: Democrats want to take here Democrats have The Democrats have

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Speaker 14: a situation here where in terms of popularity have been

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Speaker 14: political people always talk about poles still have you mentioned them?

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Speaker 14: I don't defer to them, but let me mention them.

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Speaker 14: You get a situation where Democrats democrats favorability is much

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Speaker 14: lower than Republicans, and both parties are much lower than Trump's.

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Speaker 14: So you know, Trump has put another way, Trump is

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Speaker 14: a more popular politician than either political party right now.

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Speaker 14: But Democrats are really in a trough. Democrats and haven't

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Speaker 14: been really positively affected by the shutdown. So then you

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Speaker 14: get into a situation where practical problems, whether it be SNAP,

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Speaker 14: whether it be the air traffic problem, whether it be

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Speaker 14: the economic data impacting federal federal reserve interest rate action,

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Speaker 14: all these things. All these things start to accrue, and uh,

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Speaker 14: they accrue in ways that become Democrats disproportionately. Democrats fault

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Speaker 14: because they're the ones that are not reopening the government.

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Speaker 14: I think that, uh, that plays a role. I also

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Speaker 14: think the the elections tomorrow play a role, because what

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Speaker 14: you're going to have is you're going to have a

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Speaker 14: very muddled takeaway from Democrats where no one's in charge,

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Speaker 14: where Mundani is now the new bright, shining faith of

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Speaker 14: the party, and you have the the folks. Look, the

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Speaker 14: folks who haven't been paying attention to this nationally looking

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Speaker 14: more like the national leaders. The Schumers, the Jefferies, the

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Speaker 14: Kathy Hochals and the like are are are looking like

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Speaker 14: they're part of this this leftward surge. Uh that that

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Speaker 14: just happened in New York City and uh and that's

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Speaker 14: a look for Democrats as well. I think for a

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Speaker 14: lot of those reasons, Democrats are going to want to

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Speaker 14: frankly take yes for an answer and look for negotiations

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Speaker 14: with the president that they've gotten fairly serious assurances on

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Speaker 14: that they'll the president will and the White House will

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Speaker 14: follow through it.

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