WEBVTT - Trump Picks ‘Border Czar’; Stocks, Bitcoin Hit All-Time Highs

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

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<v Speaker 1>Hager and I'm Karen Moscow. Here are the stories we're

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<v Speaker 1>following today.

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<v Speaker 2>Karen, we begin with President delect Donald Trump making key

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<v Speaker 2>position announcements as he starts to form his second administration.

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<v Speaker 2>In a social media post, Trump said he will install

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<v Speaker 2>Tom Homan as a border zar with oversight over immigration, maritime,

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<v Speaker 2>and aviation security. We get more from Bloomberg News Senior

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<v Speaker 2>editor Bill Ferries.

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<v Speaker 3>Tom Homan used to run the Customs Enforcement Agency. He

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<v Speaker 3>was really the guy partly responsible for this family separation

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<v Speaker 3>policy that defined Trump's position policy at the US Mexico border.

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<v Speaker 3>He will be some kind of a border czar, which

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<v Speaker 3>means he won't have to face Senate confirmation and can

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<v Speaker 3>try to run things right out of the White House

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<v Speaker 3>next to the President.

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<v Speaker 2>Bloomberg's Bill Ferries says the President delect is expected to

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<v Speaker 2>use who's are like positions to concentrate power among loyalists

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<v Speaker 2>in the White House, giving appointees broad discretion over government

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<v Speaker 2>departments and agencies to implement his agenda.

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<v Speaker 1>Well, Nathan, Donald Trump is also turning into a key

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<v Speaker 1>member of leadership in Congress. To be his next UN ambassador.

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<v Speaker 1>The President elect told The New York Post and his

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<v Speaker 1>Statement that he's naming New York congressom and at LEAs

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<v Speaker 1>Daphonic to the position. Steffonic is currently the fourth ranking

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<v Speaker 1>Republican in the House and is one of Trump's highest

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<v Speaker 1>profile allies on Capitol Hill. She was one of the

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<v Speaker 1>one hundred and forty seven House Republicans who voted against

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<v Speaker 1>certifying President Biden's win in twenty twenty, and she was

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<v Speaker 1>the first House member to endorse Trump's twenty twenty four run.

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<v Speaker 2>Karen Republicans are edging closer to winning control of the

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<v Speaker 2>House and pulling off a clean sweep, with two hundred

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<v Speaker 2>eighteen seats needed to keep their majority. The Associated Press

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<v Speaker 2>has called two hundred thirteen races for the GOP, and

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<v Speaker 2>the latest is Arizona's first District. Republican incumbent David Schweikert

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<v Speaker 2>held on against Democrat Ame Shah with fifty two percent

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<v Speaker 2>of the vote to forty eight percent. Nineteen House races

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<v Speaker 2>are still in play, Many of them are in California,

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<v Speaker 2>which takes longer than most states to count it's absentee ballots.

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<v Speaker 1>Well Nathan President Biden will host President ELEC. Donald Trump

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<v Speaker 1>at the White House this week for the first post

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<v Speaker 1>election meeting. They'll meet at the Oval Office at eleven

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<v Speaker 1>a m Eastern on Wednesday. That will be setting in

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<v Speaker 1>motion that transition of power that would be completed in January.

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<v Speaker 2>And at that meeting, Karen Biden is expected to argue

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<v Speaker 2>in favor of continued usaid to Ukraine. White House National

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<v Speaker 2>Security Advisor Jake Sullivan spoke on CBS's Face the Nation.

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<v Speaker 4>Of course, President Biden will have the opportunity over the

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<v Speaker 4>next seventy days to make the case to the Congress

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<v Speaker 4>and to the incoming administration that the United States should

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<v Speaker 4>not walk away from Ukraine. That walking away from Ukraine

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<v Speaker 4>means more instability in Europe, and ultimately, as the Japanese

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<v Speaker 4>Prime Minister said, if we walk away from Ukraine in Europe,

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<v Speaker 4>the question about America's commitment to where allies in Asia

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<v Speaker 4>will grow.

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<v Speaker 2>The White House National Security Advisor Jake Sullivan's comments come

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<v Speaker 2>as Trump's election victory and Republican control of potentially both

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<v Speaker 2>houses of Congress raise questions about the future of US

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<v Speaker 2>support for Ukraine.

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<v Speaker 1>May Weil Nathan Trump reportedly spoke of the Russian President

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<v Speaker 1>Vladimir Putin. Last Thursday, two days after the election, The

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<v Speaker 1>Washington Post is reporting Trump advised Putin not to escalate

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<v Speaker 1>the war in Ukraine. This morning, the Kremlin is denying

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<v Speaker 1>the two leaders spoke. During his campaign, Trump said he

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<v Speaker 1>would bring an immediate end to the conflict.

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<v Speaker 2>Cern markets now karen Us. Bond markets are closed because

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<v Speaker 2>it's Veterans Day, but stocks they're coming off their best

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<v Speaker 2>week of the year, rose four point seven percent during

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<v Speaker 2>the election week, with the S and P five hundred

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<v Speaker 2>hitting its fiftieth record this year. Monama Hadjen, senior investment

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<v Speaker 2>strategist at Edward Jones, says the equity rallies broadening across

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<v Speaker 2>various sectors and expects that to continue post election.

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<v Speaker 5>We do think that that broadening of market leadership theme

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<v Speaker 5>does have legs independent of what was happening in politics.

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<v Speaker 5>We were seeing lower Fed funds rate, lower interest rates,

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<v Speaker 5>as well as a earnings expansion driving that story. We

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<v Speaker 5>think the addition of those pro growth policies add some

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<v Speaker 5>fuel to that fire.

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<v Speaker 2>Monimahadgen of Edward Jones says the equity rally could broaden

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<v Speaker 2>further if some of presidents elect Trump's pro growth policies

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<v Speaker 2>are pasted.

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<v Speaker 1>And Nathan, we are seeing some of the Trump trades

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<v Speaker 1>still in effect. This morning, Bitcoin hitting another all time high.

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<v Speaker 1>Bloomberg Markets reporter Valerie Title sys the move is very

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<v Speaker 1>clearly linked to Trump's election win.

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<v Speaker 6>Since the first of November, Bitcoin has rallied fifteen percent

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<v Speaker 6>overnight across the eighty one thousand level mark, up another

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<v Speaker 6>percent so far in this morning's trade. Trump is seen

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<v Speaker 6>as very friendly to cryptocurrency assets, and then pair that

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<v Speaker 6>with the fact that he's teamed up with Elon Musk.

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<v Speaker 6>That seems very positive for cryptocurrencies generally, and we've seen

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<v Speaker 6>Bitcoin not wait for any further clarity but take a

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<v Speaker 6>leap higher on that.

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<v Speaker 1>And Bloomer's Valery Title says Bitcoin is sored by more

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<v Speaker 1>than ninety percent in value this year.

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<v Speaker 2>And earning seasons winding down. Karen, But we do get

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<v Speaker 2>reports from nearly a dozen companies in the S and

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<v Speaker 2>P five hundred this week.

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<v Speaker 7>Including home Depot.

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<v Speaker 2>Let's get a preview now from Bloomberg's Charlie Pellett.

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<v Speaker 8>Bloomberg Intelligence says the home improvement retailers same store sales

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<v Speaker 8>are expected to slide for an eighth consecutive quarter as

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<v Speaker 8>lower existing home sales continue to challenge sales. BI says

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<v Speaker 8>the impact of hurricanes may add a revenue boost and

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<v Speaker 8>increased costs in subsequent quarters. So far this year, the

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<v Speaker 8>stock is up seventeen point one percent. Twenty nine analysts

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<v Speaker 8>say it's a bye, eleven say it's a whole, and

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<v Speaker 8>four say it's a cell. In New York, Charlie Pellett,

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<v Speaker 8>Bloomberg Radio.

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<v Speaker 1>All right, Charlie, thank you. Turning to the economy, Minneapolis

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<v Speaker 1>Fed President Neil cash Carey says, the economy remains remarkably strong,

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<v Speaker 1>but inflation still remains.

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<v Speaker 9>We need to finish the job.

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<v Speaker 2>We want to have confidence and inflation is going to

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<v Speaker 2>go all the way back down to our two percent target.

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<v Speaker 1>And Minneapolis Fed President Neil cash Carey made the comments

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<v Speaker 1>on CBS's Face the Nation Catch the program Sunday afternoon

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<v Speaker 1>on Bloomberg Radio, and it is time now look at

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<v Speaker 1>some of the other stories making news in New York

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<v Speaker 1>and around the world. And for that we're joined by

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<v Speaker 1>Bloomberg's John Tucker, John goodburning.

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<v Speaker 10>Man, Good morning, Karen. Just a week after Donald Trump's

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<v Speaker 10>resounding election victory, Manhattan judge is poised to decide whether

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<v Speaker 10>to uphold the hush money verdict against him or dismiss it.

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<v Speaker 10>That's because of the US Supreme Court decision back in

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<v Speaker 10>July that gave presidents broad immunity from criminal prosecution. Judge

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<v Speaker 10>wanmer Shaan has said he'll issue a written opinion on Tuesday.

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<v Speaker 10>Nearly two hundred nations meeting at the annual United Nations

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<v Speaker 10>Summit this week must now consider how to avoid catastrophic

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<v Speaker 10>climate change without help from the world's biggest economy. Donald

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<v Speaker 10>Trump is found to take the US out of the

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<v Speaker 10>landmark twenty fifteen Paris Agreement once again, his presence will

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<v Speaker 10>loom over negotiators, even though he won't be at the

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<v Speaker 10>COP twenty nine Climate conference in person. Ft X file

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<v Speaker 10>the lawsuit against Anthony Scaramucci and his hedge fund, Skybridge Capital.

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<v Speaker 10>Let's get more from Bloomberg's than East Pellegrini.

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<v Speaker 7>The lawsuit against the former White House Communications director is

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<v Speaker 7>part of a broader effort to claw back money for

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<v Speaker 7>creditors of the bankrupt company. FTX alleges during the crypto

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<v Speaker 7>winter of twenty twenty two, founder at now jailed Sam

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<v Speaker 7>Bekminfried engaged in a campaign of influence buying, and the

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<v Speaker 7>bankrupt crypto firm alleges bankmin Freed invested sixty seven million

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<v Speaker 7>dollars into various Skybridge endeavors. FTX is now seeking to

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<v Speaker 7>recover more than one hundred million dollars in damages. Denise Pellgritty,

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<v Speaker 7>Bloomberg Radio.

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<v Speaker 10>Global News twenty four hours a day and whenever you

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<v Speaker 10>wanted with Bloomberg News. Now, I'm John Tucker, and this

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<v Speaker 10>is Bloomberg. Karen.

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<v Speaker 1>All right, John Tucker, thank you time now for the

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<v Speaker 1>Bloomberg Sports Update, brought to you by tri State OUTI

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<v Speaker 1>here's John stash Hour, Johnkin morning.

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<v Speaker 11>Good morning. Here in the NFL Sunday Begain in Munich,

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<v Speaker 11>where the fans were drinking and singing songs, didn't seem

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<v Speaker 11>to mind. They were watching a pair of two and seventeens.

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<v Speaker 11>They saw Carolina take a ten point lead, the Giants

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<v Speaker 11>rally in the fourth quarter, so I forced overtime and

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<v Speaker 11>then won the coin flip to get the ball first.

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<v Speaker 11>Tyrone Tracy fumbled on the first play and the Panthers

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<v Speaker 11>won twenty to seventeen. Tracy, to his credit, owned up

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<v Speaker 11>after the game.

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<v Speaker 9>I'm put a lot into this game. You know, well,

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<v Speaker 9>swat and tears, you know, the same everybody say. But

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<v Speaker 9>like I play with passion. I felt you could see

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<v Speaker 9>it on the field. I have a lot of energy

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<v Speaker 9>and I hold myself to a hot standard. So when

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<v Speaker 9>you know, when things like that happened with the game

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<v Speaker 9>on the line, you know, and overtime come all the

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<v Speaker 9>way back, like you know, that's the last thing in

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<v Speaker 9>your mind that you want to happen.

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<v Speaker 11>Giants go to the Byeway with a five game losing streak. Later,

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<v Speaker 11>it was the Jets getting wallowed by the Cardinals thirty

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<v Speaker 11>one to six. Arizona score touchdowns on their first three possessions.

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<v Speaker 11>Kyler Murray twenty two of twenty fours. The Jets dropped

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<v Speaker 11>to three and seven. Look like Kansas City would suffer

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<v Speaker 11>its first loss. Denver lined up for a game winning

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<v Speaker 11>field goal.

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<v Speaker 7>Fox witting for the snap place winners down.

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<v Speaker 2>Let's just take us goods, just.

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<v Speaker 6>Gotta stay undefeated.

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<v Speaker 11>One of six ' five. The Wolf Jeeps won sixteen fourteen.

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<v Speaker 11>They're nine to oh Detroit eight and one. Didn't look

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<v Speaker 11>good last night for them in Houston, Down twenty three

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<v Speaker 11>seven at half time, the Lions roared back to win.

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<v Speaker 11>Twenty six, twenty three. Jake Bates, who kicked the game

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<v Speaker 11>tying fifty eight yard field goal, kicked the fifty two

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<v Speaker 11>yard to win at Pittsburgh, Stay's atop the AFC North

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<v Speaker 11>twenty eight, twenty seven at Washington, the Commander's Paul at

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<v Speaker 11>a first. Philadelphia takes the lead with a thirty four

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<v Speaker 11>to six route in Dallas, Jalen Hurts two tds passing

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<v Speaker 11>two running Patriots one with a dominant defense nineteen to three.

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<v Speaker 11>In Chicago held the Bears one hundred and forty two yards.

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<v Speaker 11>Knicks lost. In Indiana won thirty two one twenty one.

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<v Speaker 11>Pacers made twenty one three pointers. Nick's had only seven

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<v Speaker 11>Miami Marlins named Dodgers coach Clayton McCullough their new manager

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<v Speaker 11>John Stash. That were Bloomberg Sports Karon Nathan.

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<v Speaker 8>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 8>and around the world on Bloomberg dot Com and the

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<v Speaker 8>Bloomberg Business app. This is Bloomberg Daybreak. Good morning.

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<v Speaker 2>I'm Nathan Hager. President Donald Trump is making quick moves

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<v Speaker 2>to fill out key positions for his second term. They

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<v Speaker 2>include a new border czar former acting ICE Director Tom Homan,

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<v Speaker 2>who may have hinted at his approach at the Republican

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<v Speaker 2>National Convention back in July.

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<v Speaker 3>Has a guy who spent thirty four years departing illegal aliens.

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<v Speaker 3>I got a message to themands of illegal aliens that

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<v Speaker 3>Joe Biden's releasing our country and violation.

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<v Speaker 11>Of federal law, you better start packing now.

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<v Speaker 2>Joining us for more on the president elect policy moves

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<v Speaker 2>and more from the nation's capital, we are joined by

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<v Speaker 2>Bloomberg News senior editor Bill Ferries.

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<v Speaker 8>Bill.

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<v Speaker 2>Good morning. For those for whom Tom Homan is not

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<v Speaker 2>necessarily a familiar name, what does his appointment suggest about

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<v Speaker 2>how President elect Trump could approach the immigration issue in

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<v Speaker 2>his second term.

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<v Speaker 3>Well, I think it tells you first how important this

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<v Speaker 3>issue is to President elect Trump. I mean, he is

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<v Speaker 3>really outside of his chief of staff Susie Wiles is

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<v Speaker 3>Tom Homan is one of the first names that the

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<v Speaker 3>President elect has announced, So it's clear he's moving quickly

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<v Speaker 3>on that. It's clear it's going to be a priority.

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<v Speaker 3>And Tom Homan may not be a household name, but

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<v Speaker 3>his policies are certainly well known. He was really the

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<v Speaker 3>author of the family separation policy that was so controversial

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<v Speaker 3>during President Trump's first term, and he has been a

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<v Speaker 3>staunch defender of that approach even back since it started

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<v Speaker 3>in twenty eighteen. So I think it tells you how

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<v Speaker 3>important it is. I think it tells you how quickly

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<v Speaker 3>President Trump wants to move and the fact that he's

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<v Speaker 3>going to be kind of a czar based in the

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<v Speaker 3>White House means there's no there won't be any need

0:11:46.120 --> 0:11:49.480
<v Speaker 3>for a Senate confirmation process, so he can start essentially

0:11:49.480 --> 0:11:50.959
<v Speaker 3>on day one with the president.

0:11:51.320 --> 0:11:53.840
<v Speaker 2>Is there a suggestion then that the border zar could

0:11:53.840 --> 0:11:57.360
<v Speaker 2>be a more powerful position under a second Trump administration

0:11:57.559 --> 0:12:03.120
<v Speaker 2>than the Senate confirmable positions willd to immigration and border security.

0:12:04.040 --> 0:12:06.720
<v Speaker 3>Well, certainly, I mean, we'll have to see how other

0:12:06.800 --> 0:12:10.760
<v Speaker 3>positions come out, but there is a sense that, perhaps,

0:12:11.800 --> 0:12:15.480
<v Speaker 3>having learned from his first term, President Elect Trump is

0:12:15.520 --> 0:12:19.959
<v Speaker 3>going to have a number of people who have czar

0:12:20.280 --> 0:12:24.800
<v Speaker 3>like titles based in the White House, essentially senior advisors

0:12:24.880 --> 0:12:28.239
<v Speaker 3>or senior counselors who may in fact have more influence

0:12:28.360 --> 0:12:32.760
<v Speaker 3>than agency heads or even cabinet secretaries in some cases.

0:12:33.280 --> 0:12:35.800
<v Speaker 2>Interesting as well, that we're hearing one of the first

0:12:35.880 --> 0:12:40.040
<v Speaker 2>Senate confirmable positions that President elect Trump has announced is

0:12:40.160 --> 0:12:43.800
<v Speaker 2>for United Nations Ambassador, and he's turning to a pretty

0:12:43.840 --> 0:12:46.640
<v Speaker 2>staunch loyalist on Capitol Hill to fill out that post.

0:12:47.920 --> 0:12:52.080
<v Speaker 3>Yeah, he's turning to a Congresswoman Elise Stephanic, someone who

0:12:52.200 --> 0:12:55.200
<v Speaker 3>was really kind of more of a moderate Republican in

0:12:55.280 --> 0:12:58.640
<v Speaker 3>her early years in Congress, but who made a sharp

0:12:58.720 --> 0:13:02.480
<v Speaker 3>turn became a big defender of President Trump in the

0:13:02.520 --> 0:13:06.600
<v Speaker 3>second half of his term. Was someone who you know,

0:13:06.840 --> 0:13:10.880
<v Speaker 3>opposed his votes of impeachment and was actually I think

0:13:10.920 --> 0:13:13.720
<v Speaker 3>the first member of Congress to or one of the

0:13:13.760 --> 0:13:17.920
<v Speaker 3>first to endorse him for a third term ahead of

0:13:17.920 --> 0:13:21.560
<v Speaker 3>this year's election. So a true loyalist, someone who will

0:13:21.679 --> 0:13:24.720
<v Speaker 3>likely sit in the cabinet as a as a UN envoy,

0:13:25.280 --> 0:13:29.960
<v Speaker 3>and someone who you know, the president president elect feels

0:13:29.960 --> 0:13:31.439
<v Speaker 3>like he can trust wholeheartedly.

0:13:32.280 --> 0:13:34.640
<v Speaker 2>For the President to like to pick someone on Capitol

0:13:34.679 --> 0:13:38.880
<v Speaker 2>Hill Republican in the House, does that suggest some kind

0:13:38.880 --> 0:13:44.760
<v Speaker 2>of confidence that president like Trump feels like the Republican

0:13:44.800 --> 0:13:47.240
<v Speaker 2>Party is going to hold on to the House. It's

0:13:47.280 --> 0:13:50.480
<v Speaker 2>still not quite called just yet terms of the majority.

0:13:51.480 --> 0:13:55.000
<v Speaker 3>It's not called. We have the latest that in terms

0:13:55.000 --> 0:13:58.200
<v Speaker 3>of called races two hundred and thirteen Republicans to two

0:13:58.240 --> 0:14:03.280
<v Speaker 3>hundred and three Democrats. There was one more Republican seat

0:14:04.600 --> 0:14:09.240
<v Speaker 3>that was called in Arizona about seven hours ago. But

0:14:09.360 --> 0:14:12.840
<v Speaker 3>it does look like Republicans are leading in most of

0:14:12.880 --> 0:14:16.520
<v Speaker 3>the in the remaining seats by and large, So there

0:14:16.559 --> 0:14:18.520
<v Speaker 3>is a lot of confidence on the Republican side that

0:14:18.559 --> 0:14:22.680
<v Speaker 3>they will hold the Congress the lower the House representatives. Now, remember,

0:14:22.720 --> 0:14:25.520
<v Speaker 3>holding it with a narrow lead can be just as

0:14:25.640 --> 0:14:29.120
<v Speaker 3>challenging as as as not having the majority.

0:14:29.160 --> 0:14:29.880
<v Speaker 8>In some cases.

0:14:29.920 --> 0:14:34.080
<v Speaker 3>We've seen Mike Johnson really struggle on in some situations

0:14:34.120 --> 0:14:37.720
<v Speaker 3>to get his caucus to vote. He's needed Democratic support

0:14:37.760 --> 0:14:41.440
<v Speaker 3>in a lot of cases. So, but you'd rather have

0:14:41.480 --> 0:14:45.360
<v Speaker 3>a slim majority rather than a slim minority heading into

0:14:45.920 --> 0:14:49.240
<v Speaker 3>heading into the next you know cycle here.

0:14:49.440 --> 0:14:51.400
<v Speaker 2>Got about a minute left bill. What to make of

0:14:51.440 --> 0:14:55.320
<v Speaker 2>these now conflicting reports that President elect Trump had a

0:14:55.360 --> 0:14:58.680
<v Speaker 2>phone call with Vladimir Putin of Russia just about two

0:14:58.760 --> 0:14:59.840
<v Speaker 2>days after the election.

0:15:01.680 --> 0:15:04.800
<v Speaker 3>Yeah, you know, there was a Washington Post story saying

0:15:04.840 --> 0:15:08.320
<v Speaker 3>that President Trump had a call with Putin and then

0:15:08.520 --> 0:15:13.160
<v Speaker 3>he warned the Russian president against escalating the war in Ukraine.

0:15:14.480 --> 0:15:17.560
<v Speaker 3>You know, we don't have any confirmation of that. Ourselves.

0:15:17.840 --> 0:15:20.480
<v Speaker 3>It would not be a surprise there. Now, we've seen

0:15:20.520 --> 0:15:25.160
<v Speaker 3>reports that from Bob Woodward that former President Trump may

0:15:25.160 --> 0:15:28.440
<v Speaker 3>have had a number of calls with Vladimir Putin during

0:15:28.520 --> 0:15:31.560
<v Speaker 3>his four years away from the White House. He has

0:15:31.680 --> 0:15:35.560
<v Speaker 3>promised to end the war in Ukraine before taking office,

0:15:35.640 --> 0:15:37.720
<v Speaker 3>so this would be in line with that. We know

0:15:37.840 --> 0:15:41.600
<v Speaker 3>he did speak with the Ukraine President Zelenski, so it

0:15:41.680 --> 0:15:44.000
<v Speaker 3>is entirely plausible that they've had this talk and that

0:15:44.080 --> 0:15:46.359
<v Speaker 3>they'll have more talks before President Trump.

0:15:46.120 --> 0:15:46.600
<v Speaker 8>Was sworn in.

0:15:46.920 --> 0:15:49.880
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<v Speaker 6>Dabreak