Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning.
Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 3: stories we're following today. Karen, it's over.
Speaker 4: After forty three days, the longest government shut down in
Speaker 4: American history has come to an end.
Speaker 2: On this vote. The a's are two hundred and twenty two.
Speaker 2: The a's are two oh nine. The bill has passed.
Speaker 4: And after that vote in the House of Representatives, President
Speaker 4: Trump signed the bill to reopen the government and put
Speaker 4: federal workers back on the job starting today.
Speaker 5: We're sending a clear message that we will never give
Speaker 5: in to extortion, because that's what it was. They tried
Speaker 5: to extort. The Democrats tried to extort our country.
Speaker 4: The President spoke at an Oval Office signing ceremony heard
Speaker 4: live on Bloomberg Radio. The new funding law does not
Speaker 4: resolve the expiring health insurance subsidies that Democrats wanted to extend.
Speaker 4: Senate Republicans have promised to vote on that next month.
Speaker 4: And even though the government is reopening, getting it back
Speaker 4: to normal could take a while.
Speaker 2: As we hear from Bloomberg's Steric Wallbank.
Speaker 6: We're going to be waiting for a couple of days
Speaker 6: to get federal workers paid. It may take a couple
Speaker 6: of days to get airlines fully back to their normal schedules.
Speaker 6: We're still waiting to see about these economic indicators that
Speaker 6: were delayed or paused during the shutdown. Most of them
Speaker 6: are expected to come, but maybe not all of them,
Speaker 6: but we're waiting to see when those are going to
Speaker 6: get put forward.
Speaker 4: That's Bloomberg's Derek Wallbank. The White House says the October
Speaker 4: jobs and consumer price reports might never be released due
Speaker 4: to the shutdown. The Bureau of Labor Statistics has not
Speaker 4: released a new schedule of data releases. The agency could
Speaker 4: combine two months worth of data to get back on
Speaker 4: track well.
Speaker 3: Nathan asked for airlines getting back on schedule. That Trump
Speaker 3: administration is hoping to bring that in for US smooth
Speaker 3: and landing. The Transportation Department and Federal Aviation Administration are
Speaker 3: freezing of flight reductions at forty major airports at six percent,
Speaker 3: rather than the ten percent previously planned. FAA Administrator Brian
Speaker 3: Bedford says air traffic controller staffing is improving rapidly. Doubt
Speaker 3: The Airlines CEO ed Bashton tells Bloomberg that things should
Speaker 3: keep improving heading into the holidays.
Speaker 4: We know the importance of Christmas and Thanksgiving and the holidays.
Speaker 4: That's our super Bowl, and that's what we rehearse and
Speaker 4: plan all year long.
Speaker 2: We're going to be in really good shape now.
Speaker 3: The CEO, ed Bashton, spoke to Bloomberg from the floor
Speaker 3: of the New York Stock Exchange. Get the full conversation
Speaker 3: on the Bloomberg Podcast channel on YouTube. Airlines have canceled
Speaker 3: almost ten thousand flights since restrictions were put in place
Speaker 3: last week.
Speaker 2: Well, Karen.
Speaker 4: Another major story we're following this morning involves emails released
Speaker 4: by Democrats involving convicted sex offender Jeffrey Epstein. Bloomberg's John
Speaker 4: Tucker joins us with the very latest, John and Nathan.
Speaker 7: In the newly released emails, Jeffrey Epstein repeatedly discussed Donald
Speaker 7: Trump with his co conspirator Gaylaine Maxwell Epstein, writing the
Speaker 7: quote dog that hasn't barked as Trump, adding that one
Speaker 7: of his victims spent quote hours with Trump at Epstein's home.
Speaker 7: California Democratic Congress and Robert Garci is the ranking Democrat
Speaker 7: on the House Oversight Committee which released the files.
Speaker 8: This email from Jeffrey Epstein saying that Donald Trump spent
Speaker 8: hours with one of the victims, or that he knew
Speaker 8: about the girls. I mean, these are things that should
Speaker 8: bother us.
Speaker 7: The White House says that House Democrats selectively leaked to emails,
Speaker 7: creating a quote fake narrative. White House Press Secretary Caroline.
Speaker 9: Levin this administration has done more with respect to transparency
Speaker 9: when it comes to Jeffrey Epstein than any administration ever.
Speaker 7: In another email, Epstein wrote of Trump, of course he
Speaker 7: knew about the girls. Epstein was found dead in his
Speaker 7: jail sale in twenty nineteen. Both Republicans and Democrats in
Speaker 7: Congress have pushed for more information, pitting President Trump against
Speaker 7: members of his own party. Representative Thomas Massey of Kentucky,
Speaker 7: Lauren Bobart of Colorado, Marjorie Taylor Green of Georgia, and
Speaker 7: Nancy Mace of South Carolina have said they will join
Speaker 7: with Democrats to force a vote for the DOJ to
Speaker 7: release all Epstein files. The emails also revealed that former
Speaker 7: US Treasury Secretary Larry Summers wrote to Epstein complaining about
Speaker 7: what he characterized as harsh treatment of an unnamed man
Speaker 7: who hit on a few women. Somers is a paid
Speaker 7: contributor to Bloomberg TV. In the Your Income, John Tucker Bloomberg.
Speaker 3: Radio, All right, John, thank you. We now turn to
Speaker 3: a Bloomberg exclusive. Ukraine's President Vladimir Zelenski says his country
Speaker 3: survival rests on new funding from allies. The Ukrainian leader
Speaker 3: Tom Bloomberg's Oliver Krook, European officials need to overcome their
Speaker 3: divisions on the use of frozen Russian assets.
Speaker 10: They understand that we need their support and if I
Speaker 10: hope God bless, we will get this decision. But they
Speaker 10: will not have this decision. Of course, we together will
Speaker 10: find out. We have to find our torment is the
Speaker 10: question of all. We're surviving, that's why we need it
Speaker 10: very much, and I count on partners.
Speaker 3: And Ukraine's presidents. E went on to say Russia's Vladimir
Speaker 3: Putin had waged a deliberate campaign of intimidation against Europe
Speaker 3: with recent incursions by drones and fighter jets into NATO airspace.
Speaker 4: Another geopolitical development this morning, Karen Chinese President Shi Jinping
Speaker 4: is joining President Trump in skipping this month's G twenty
Speaker 4: summit in South Africa. Instead, China will send Premier Lee Chiang.
Speaker 4: She's decision means the summit will lack the leaders of
Speaker 4: the world's two largest economies, along with fellow member Russia.
Speaker 3: Bloomberg News has learned the European Union is set to
Speaker 3: propose a plan to the US NATHAN that would implement
Speaker 3: the next phase of the trade agreement the two sides
Speaker 3: reached this summer. The deal set of fifteen percent tariff
Speaker 3: on most but not all EU goods entering the US.
Speaker 3: Sources of the plan would focus on areas including tariffs
Speaker 3: and market access standards, digital trade, technical barriers, and cooperation
Speaker 3: on steel and aluminum.
Speaker 4: Well back here in the US, Karen futures have moved
Speaker 4: mostly lower now following another record close for the Dow
Speaker 4: Jones Industrial average. Bloomberg Markets reporter Valerie Titel says the
Speaker 4: end of the government shutdown has boosted sentiment.
Speaker 11: This government shutdown coming to an end has been positive
Speaker 11: for the equity market.
Speaker 2: Take a look at S.
Speaker 11: And P futures this week, we're essentially on track for
Speaker 11: the best week in three months. Gold is up six
Speaker 11: percent in the last five sessions, and a lot of
Speaker 11: this can be tied to the fact that the Treasury
Speaker 11: is going to be resuming their payments, and essentially that
Speaker 11: is releasing liquidity back into the economy that had been
Speaker 11: built up in treasury cash balances over the last forty
Speaker 11: three days.
Speaker 4: That's Bloomberg's Svalary Titel and checking gold. This morning, it's
Speaker 4: up another six tenths of one percent, trading at forty
Speaker 4: two to thirty seven to ten per ounce.
Speaker 3: Shares of Cisco are higher. They are up more than
Speaker 3: six and a half percent this morning. The largest maker
Speaker 3: of machines that run computer networks and the Internet gave
Speaker 3: an upbeat sales forecast. It's showing progress and its effort
Speaker 3: to capture more artificial intelligence spending. Wu Jinho cover Cisco
Speaker 3: for Bloomberg Intelligence.
Speaker 5: They're playing both the enterprise side as well as on
Speaker 5: the AI data center side. They provide the high speed optics,
Speaker 5: but they also provide the chips to help enable scale
Speaker 5: cross and scale out AI networking. But they've partnered with Nvidia.
Speaker 5: They will be using Nvidia ironically and Vidia chips in
Speaker 5: their boxes, so Nvidia has an entry away to the
Speaker 5: enterprise where Cisco excels in.
Speaker 3: And Bloomberg Intelligence is Woujen host as Cisco increased its
Speaker 3: twenty twenty six forecast, exceeding Wall Street estimates. Cisco now
Speaker 3: expects sales of as much as sixty one billion dollars.
Speaker 4: And Karen the earnings continue this morning when the world's
Speaker 4: biggest entertainment company reports ahead of the opening bell. Bloomberg's
Speaker 4: Tom Busby has more and what to expect from Walt Disney.
Speaker 12: A big concern for Disney subscriber growth at its various
Speaker 12: streaming video services like Disney Plus, ESPN Plus and Hulu.
Speaker 12: That's after a lot of customers canceled those services when
Speaker 12: the company briefly suspended Jimmy Kimmel and over the content
Speaker 12: feed dispute it's having right now with YouTube TV, but
Speaker 12: with its cash cal theme Parks expected to deliver another
Speaker 12: quarter of blowout profits. Bloomberg consensus calls for revenue of
Speaker 12: twenty two point eight three billion dollars on adjusted earnings
Speaker 12: per share of a dollar seven.
Speaker 2: Tom Busby Bloomberg Radio.
Speaker 3: All right, Tom, thank you. A new line of Cheetos
Speaker 3: and Dorrito's won't leave anyone's fingers. Orange PepsiCo is introducing
Speaker 3: naked versions of its popular snacks that strip out artificial
Speaker 3: does as part of its push to boost healthier options.
Speaker 3: The offerings, marketed as simply Naked spelled NKD, do not
Speaker 3: have any added colors. PepsiCo says the snacks are designed
Speaker 3: to taste the same as the original, but with a
Speaker 3: novel appearance that the company is betting will interest consumers.
Speaker 3: Time now for a look at some of the other
Speaker 3: stories making news in New York and around the world.
Speaker 3: And for that we're joined by Bloomberg's Michael Barr. Michael,
Speaker 3: good Morning, Good morning, Karen.
Speaker 13: California Governor Gavin Newsom's former chief of staff has been
Speaker 13: indicted in a corruption case. Federal prosecutors say Dana Williamson
Speaker 13: allegedly inspired to divert about two hundred and twenty five
Speaker 13: thousand dollars from a dormant political campaign for an associate's
Speaker 13: personal use. Williamson is also accused of claiming more than
Speaker 13: a million dollars in business deductions for private use. The
Speaker 13: White House is responding after President Trump said that he
Speaker 13: was open to using the revenue he claims the US
Speaker 13: as collective from tariffs to send Americans a two thousand
Speaker 13: dollars check. There are questions as to who would ultimately
Speaker 13: receive these checks, and whether there is enough tariff money
Speaker 13: to do it. White House Press Secretary of Caroline Lovett.
Speaker 9: We are currently exploring all legal options to get that done.
Speaker 9: I don't have a timeline for you or any further details,
Speaker 9: but I can confirm for you that the President made
Speaker 9: it clear he wants to make it happen, and so
Speaker 9: his team of economic advisors are looking into it.
Speaker 13: A federal judge is sent to hear arguments over motions
Speaker 13: brought by former FBI Director James Comey and New York
Speaker 13: Attorney General Letitia James against the US Attorney for the
Speaker 13: Eastern District, Lindsay Halligan, who has indicted both of them.
Speaker 13: They claim that Halligan, President Trump's former personal lawyer, was
Speaker 13: not properly appointed to her position. A Baltimore police officer
Speaker 13: has been indicted. Robert Parks is accused of intentionally driving
Speaker 13: his vehicle at a civilian while on duty. Maryland State
Speaker 13: Attorney Ivan Bates says Parks now faces chargers including attempted murder.
Speaker 8: If found guilty of all charges, Officer Parks faces a
Speaker 8: maximum sentence of sixty five years of incarceration. There is
Speaker 8: no maximum penalty for misconduct.
Speaker 2: In office.
Speaker 13: State Attorney Bates says after Parks struck a man in
Speaker 13: a grassy area, he allegedly tried to hit the man
Speaker 13: two more times with his car. Global News twenty four
Speaker 13: hours a day and whenever you want it with the
Speaker 13: Bloomberg News Now Michael Barr and this is Bloomberg Karen.
Speaker 13: Thanks Michael.
Speaker 3: A time now for our Bloomberg Sports Update, and for
Speaker 3: that we bring in John stash.
Speaker 14: Hour as Darren NBA Stars with Big Games, denvers Na
Speaker 14: Kola Joki. It's fifty point does the Nuggets beat the
Speaker 14: Clippers and in Golden States win at San Antonio. Steph
Speaker 14: Curry went for forty six. Oklahoma City defended NBA champs
Speaker 14: are now twelve and one this year. Thunder up by
Speaker 14: thirty two at halftime in a blowout win over the Lakers.
Speaker 14: Jetson Patriots played tonight in New England. The Patriots have
Speaker 14: won seven in a row. Cy Young Award winners Paul
Speaker 14: Skeins of the Pirates, Trek Scubel the Tigers.
Speaker 2: That's a Bloomberg Sports update. Stay with us.
Speaker 3: More from Bloomberg Day Break coming up after this.
Speaker 1: Coast to Coast on Bloomberg Radio nationwide on Sirius XM
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 4: Good morning, I'm Nathan Hager. After a divided vote in
Speaker 4: the House and a wave of the pen at the
Speaker 4: White House, the federal government is back open for business.
Speaker 4: President Trump has signed the bill to end the longest
Speaker 4: US government shutdown ever at forty three days, but not
Speaker 4: without a dig at Democrats.
Speaker 5: The extremists in the other party insisted on creating the
Speaker 5: longest government shut down in American history, and they did
Speaker 5: it purely for political reason.
Speaker 4: That was President Trump at an Oval Office signing ceremony
Speaker 4: heard live on Bloomberg Radio this morning. Were joined by
Speaker 4: Tina Fordham, founder of Fordham Global Foresight. Tina, it's great
Speaker 4: to have you back with us now that the government
Speaker 4: is back open. What did either side gain by keeping
Speaker 4: it shut down for so long?
Speaker 2: Good morning, Good morning.
Speaker 15: I'd like to give you a really deeply insightful answer
Speaker 15: to that, but I'm really scratching my head on this.
Speaker 15: It feels like a delay that resulted in very little
Speaker 15: political gain for either side. The political calculus for Democrats
Speaker 15: and having held out so long and then reopening an
Speaker 15: exchange for seemingly nothing is a great surprise. But there
Speaker 15: will be collateral damage from the shutdown, and of course,
Speaker 15: of course, you know we're heading straight into the next
Speaker 15: crisis on the back of this.
Speaker 4: That crisis I think you're probably alluding to being the
Speaker 4: expiration of the.
Speaker 2: Health insurance subsidies. Is that what you're getting at? Well, No, but.
Speaker 15: That is of course a huge importance to the American people,
Speaker 15: and it's going to be a major issue for all
Speaker 15: members of Congress. I'm thinking about the expiration on the
Speaker 15: part of Justice releasing the Epstein files. I think that
Speaker 15: is a crisis for the White House.
Speaker 4: Okay, yeah, well let's get into that. Then, as you mentioned,
Speaker 4: we had the discharge petition officially signed. Now, of course
Speaker 4: we've had ahead of that the release of tens of
Speaker 4: thousands of documents, some of which the Democrats have highlighted
Speaker 4: showing potentially President Trump's links with Epstein.
Speaker 2: How do you see this playing out?
Speaker 15: It's not the sort of topic that, as a a
Speaker 15: geopli strategist I would normally offer a view on, but
Speaker 15: I think that it's relevant for three reasons. First of all,
Speaker 15: the end of the shutdown means that these files can
Speaker 15: be released. It's something that the White House has wanted
Speaker 15: to avoid. The collateral damage from the Epstein case is
Speaker 15: popping up everywhere in terms of what it means for
Speaker 15: the White House agenda. Clearly, this is going to dominate
Speaker 15: the news cycle and distract from the White House priorities,
Speaker 15: and coming on the back of last week's off year
Speaker 15: election results where we started to see evidence of some
Speaker 15: pushback on the Trump agenda. In addition to what this
Speaker 15: is doing to challenge the president's approval ratings and support
Speaker 15: for Republicans as we enter this twelve month period head
Speaker 15: of midterms. What really struck me about the petition was
Speaker 15: I think this is the first time that some of
Speaker 15: the Republican Party faithful in Congress refused to comply with
Speaker 15: a direct entreaty from the White House, and that to
Speaker 15: me is significant.
Speaker 4: Does that point to a broader split then between the
Speaker 4: President and his own base at a time where we've
Speaker 4: seen evidence of splits in the Democratic Party as well?
Speaker 2: In terms of how the shutdown was.
Speaker 15: Handled, I think that's where I'm getting to with this.
Speaker 15: I mean, we really didn't have enough data points, if
Speaker 15: you like, before last week's elections to get a sense
Speaker 15: of where the American people were. Of course, we see
Speaker 15: the approval ratings being at historic lows, but let's always
Speaker 15: remember that Democrats as a party haven't benefited to very
Speaker 15: much from that fact. But if Trump starts to lose
Speaker 15: the pretty ironclad support that he's had from his party
Speaker 15: in Congress, and that is coupled with the American people's
Speaker 15: frustration with the cost of living crisis in these other matters,
Speaker 15: then that really signals a challenge ahead in the next
Speaker 15: twelve months for the White House.
Speaker 4: Yeah, it's interesting at a time when, you know, coming
Speaker 4: out of last week's elections where Democrats really seem to
Speaker 4: focus on affordability, if the focus does turn to Jeffrey Epstein,
Speaker 4: what could that mean politically? Is there a risk that
Speaker 4: things could go too far? We have about a minute left.
Speaker 15: In very complex times, I think there's always the risk
Speaker 15: that is story like this, which seems easier to understand
Speaker 15: than the complexities of inflation and trade, for example, just
Speaker 15: takes so it becomes quite a challenge to deal with.
Speaker 15: There's also foreign policy angle, which is surprising the emails
Speaker 15: released talking about you know, tell the Russian foreign Minister
Speaker 15: Sergei Lavrov to talk to me. I can tell you
Speaker 15: how to work with Trump. I mean, those kinds of
Speaker 15: developments could really widen this challenge for the White House
Speaker 15: at a moment when that's the last thing they want
Speaker 15: to have happen.
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