Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Karen, we begin with two words that start with tea,
Speaker 3: Trump and tariffs. President Trump says he would prefer not
Speaker 3: to impose tariffs on China. It's a softening compared to
Speaker 3: his pre election thread of sixty percent additional import taxes.
Speaker 4: Trump spoke with Fox News Channel's Handity, we have.
Speaker 5: One very big power over China, and that's tariffs, and.
Speaker 6: They don't want them, and I'd rather not have to
Speaker 6: use it.
Speaker 3: President Trump has floated the idea of ten percent tariffs
Speaker 3: on China from next month, but so far has stopped
Speaker 3: short of imposing them on Beijing.
Speaker 4: In his first days in office.
Speaker 2: Well, Nathan, President Trump reiterated as tariffs threats in a
Speaker 2: virtual speech to the World Economic Forum and Davos, and
Speaker 2: he said he'll demand that Saudi Arabia and Opek and
Speaker 2: bring down the cost of oil.
Speaker 6: You got to bring it down, which, frankly, I'm surprised
Speaker 6: they didn't do before the election. That didn't show a
Speaker 6: lot of love by them not doing it. I was
Speaker 6: a little surprised by that if the price came down,
Speaker 6: the rush of Ukraine war would end immediately.
Speaker 2: Those are marks when President Trump sent oil prices lower,
Speaker 2: though it's unclear whether Opek will heed his call, and
Speaker 2: the President said he would not stop there.
Speaker 6: With oil prices going down, I'll demand that interest rates
Speaker 6: drop immediately, and likewise they should be dropping all over
Speaker 6: the world. Interest rates should follow us.
Speaker 2: And in a surprise broadside, President Trumpec used a Bank
Speaker 2: of America CEO Brian moynihan of limiting business with conservative clients,
Speaker 2: telling him quote, I hope you start opening your bank
Speaker 2: to conservatives, because what you're doing is wrong.
Speaker 3: And on the topic of interest rates, Karen, President Trump
Speaker 3: said he'll speak with Federal Reserve Chairman Jerome Powell about
Speaker 3: lowering rates at the quote right time. The President spoke
Speaker 3: to reporters while signing executive orders in the Oval Office.
Speaker 5: I think I know interest rates much better than they do,
Speaker 5: and I think I know it's certainly much better than
Speaker 5: the one who's primarily in charge of making that decision.
Speaker 5: But no, I'm guided by them very much. But if
Speaker 5: I disagree, I will let it be known.
Speaker 3: President Trump spoke ahead of the first rate decision of
Speaker 3: twenty twenty five for J.
Speaker 4: Powell and the FED that's coming up next week.
Speaker 2: Well, Nathan, Senators may be working through the weekend to
Speaker 2: get President Trump's cabinet appointees confirmed. Do we get that
Speaker 2: story with bloomberge Dina Servetti.
Speaker 7: So far, just two of Trump's picks have cleared, the
Speaker 7: Senate Secretary of State Marco Rubio and CIA director John Ratcliffe.
Speaker 7: But Defense nominee Pete Hegsith cleared a key procedural hurdle
Speaker 7: yesterday despite opposition from two Republicans. He's set for a
Speaker 7: final confirmation vote tonight. If the Senate sticks around this weekend,
Speaker 7: it could vote on Scott Bessant for Treasury Secretary and
Speaker 7: Christy Nome to lead Homeland Security. Other nominees, including Robert F. Kennedy,
Speaker 7: Junior Tulci Gabbard, and Cash Pateel have here set for
Speaker 7: next week. Gina Cervetti Bloomberg Radio.
Speaker 4: Gina, thank you.
Speaker 3: President Trump's pledge to keep TikTok operational in the US
Speaker 3: is being handled differently by different tech giants. Bloomberg's John
Speaker 3: Tucker's here with more on that story. So John sounds
Speaker 3: like there's a little bit of confusion out there.
Speaker 8: To say the least.
Speaker 9: Nathan Apple and Google they remove the app from their
Speaker 9: respective app stores to comply with the January nineteenth van,
Speaker 9: and they've held off on relisting TikTok. The app's been
Speaker 9: unavailable for the past five days, even after Trump's pledge
Speaker 9: that the government won't enforce the law that raised potential penalties. Oracle,
Speaker 9: on the other hand, they have kept TikTok operational. Oracle
Speaker 9: provides cloud services for TikTok and lawmakers and other Washington insiders.
Speaker 9: They have raised concerns even with a nod for Donald Trump.
Speaker 9: The critics argue the company could open itself up to
Speaker 9: lawsuits from current shareholders and massive fines from a future
Speaker 9: administration that may want to retroactively enforce those penalties. There's
Speaker 9: also the possibility that Donald Trump could change his mind
Speaker 9: on enforcement. In New York, I'm John Tucker Bloomberg Radio.
Speaker 2: All right, John, thank you well. President Trump is heading
Speaker 2: to hurricane battered Western and North Carolina and wildfire ravaged
Speaker 2: Los Angeles. Meanwhile, firefighters across southern California are making progress
Speaker 2: battling new blazes that were fanned by gusty wins. The
Speaker 2: new wildfires come a week's after other blazes killed twenty
Speaker 2: eight people, displaced thousands, and destroyed more than sixteen thousand structures.
Speaker 2: A forecast of rain this weekend is offering the potential
Speaker 2: for some relief.
Speaker 4: Well, Karen Let's turn to markets now.
Speaker 3: Futures are modestly lowered this morning, following a record close
Speaker 3: for the S and P five hundred and several key
Speaker 3: stocks are on the move, watching shares of Boeing.
Speaker 4: They are down nearly two percent in early trading.
Speaker 3: The planemaker posted preliminary sales about a billion and a
Speaker 3: half dollars below estimates. Overall, Boeing, which is hit by
Speaker 3: a workers strike, loss roughly four billion dollars in the quarter.
Speaker 2: Well Nathan shares of Texas Instruments are down almost five percent.
Speaker 2: The chip maker gave it pointing Earning's forecast for the
Speaker 2: current period. Analysts say it's a sign it's still contending
Speaker 2: with still sluggish chip demand and higher cost tied to
Speaker 2: a factory expansion in Europe.
Speaker 3: Karen's shares of Eric Center down more than eight percent.
Speaker 3: The Swedish telecom missed analysts forecasts for earnings in the
Speaker 3: fourth quarter.
Speaker 2: On the flip side, Nathan Shears Burbery higher by twelve
Speaker 2: and a half percent to pick up a US demand,
Speaker 2: boosted the Trench code makers results. Sales in the America's
Speaker 2: unexpectedly climbed well, China fell less than estimated.
Speaker 3: And oh, it's staying in the Asia Pacific, Karen. The
Speaker 3: Bank of Japan raised its key policy rate to the
Speaker 3: highest level in seventeen years and took a more bullish
Speaker 3: view on the strength of inflation. Boj lifted the overnight
Speaker 3: call rate by a quarter percentage point to half percent.
Speaker 3: The decisions feeling expectations for more rate hikes and is
Speaker 3: supporting the end checking it against the dollar right now
Speaker 3: it is stronger at one fifty five point seven zero.
Speaker 2: And it's time now for a look at some of
Speaker 2: the their stories making news in New York and around
Speaker 2: the world. And for that we're joined by Bloomberg's Michael Barr.
Speaker 4: Michael, Good morning, Good morning, Karen.
Speaker 8: A federal judge in Washington State has temporarily blocked President
Speaker 8: Trump's executive order denying US citizenship to the children born
Speaker 8: from undocumented parents living in the country. The hearing didn't
Speaker 8: even take a half an hour. Judge John Kunauer said
Speaker 8: in his four decades on the bench, he'd never seen
Speaker 8: such a clear case. That Reagan appointee called President Trump's
Speaker 8: order blatantly unconstitutional and said it boggles his mind that
Speaker 8: any lawyer would unequivocally assert otherwise. President Trump pledged to
Speaker 8: fight it.
Speaker 6: Obviously will appeal if they put it before a certain
Speaker 6: judge in Seattle.
Speaker 5: I guess right, and there's no surprises with that judge.
Speaker 8: Loyola Law School professor Jessica Levinson.
Speaker 10: For a judge at a temporary restraining order to say
Speaker 10: blatantly unconstitutional, it is where emphasizing that you don't typically
Speaker 10: see that type of language at this initial stage.
Speaker 8: Professor Levinson spoke to CBS. Trump's order aims to block
Speaker 8: the issuance of passports and Social Security numbers to children
Speaker 8: born to undocumented women or on temporary visas unless the
Speaker 8: father is a US citizen or a Green card holder,
Speaker 8: and ice raid conducted at a Newark, New Jersey business
Speaker 8: as the city's mayor outraged, immigration officials took away three
Speaker 8: workers who couldn't prove citizenship while working at the Ocean
Speaker 8: Seafood Depot in Newark. The owner of that business. Luis
Speaker 8: Ganoda believes this was a step too far.
Speaker 2: I feel that we have to be a country law,
Speaker 2: but go off.
Speaker 4: To bad people, not working people. Visit people, these a
Speaker 4: family people? Is it people that would show up to
Speaker 4: work every day.
Speaker 8: The raid yesterday was part of a nationwide enforcement following
Speaker 8: President Trump's executive order. One of the people taken into
Speaker 8: custody was a US veteran. In a statement, Newark Mayor
Speaker 8: Baraka called it egregious and a violation of the Fourth Amendment.
Speaker 8: Baraka insists the proper warrant was not presented. President Trump
Speaker 8: has ordered the release of thousands of classifying the governmental
Speaker 8: records related to the assassination of President John F. Kennedy.
Speaker 8: The executive order Trump signed yesterday also aims to declassify
Speaker 8: records relating to the assassinations of Senator Robert F. Kennedy
Speaker 8: and Martin Luther King Jr. Global News twenty four hours
Speaker 8: a day and whenever you want it with Bloomberg News Now.
Speaker 8: Michael Barn, This is Bloomberg Karen Uncle Barr.
Speaker 2: Thank you time now for the Bloomberg Scores update, brought
Speaker 2: to you by try Stan Outy. Here's John Stanshauer John.
Speaker 4: Good morning, Good morning, Karen Novak.
Speaker 11: Djokovich is at ten for an eleventh Australian Open title,
Speaker 11: a record breaking twenty fifth Grand Slam, and then suddenly
Speaker 11: in Melbourney at upset Carlos Alcarez in the quarterfinals despite
Speaker 11: taking an injury time out getting his left leg taped
Speaker 11: up of the semis.
Speaker 8: He took on alex Zavera.
Speaker 11: They've played a long and tight first sets of Vera
Speaker 11: won a tiebreaker and then the match was over.
Speaker 8: Djokovic was struggling. He didn't know how Battley Patrick he did.
Speaker 4: And the cloud is absolutely stunted.
Speaker 11: Stunned.
Speaker 4: Lady Shanny, his name was seconds.
Speaker 3: Ago is he was very much in that tipe breaking
Speaker 3: second did he missed the volley.
Speaker 11: To lose the set.
Speaker 4: He came forward to shake.
Speaker 8: Hands and this is for disappointing the drive at twenty
Speaker 8: five NS right here on ESPN.
Speaker 11: Djokovic said later due to the muscle tear in the leg,
Speaker 11: he would not have been able to finish even had
Speaker 11: he won that first set.
Speaker 8: Soaver evern the.
Speaker 11: Final will take you on the winner of the match
Speaker 11: going on now. Top seed Yannick Sinner just won a
Speaker 11: first set tiebreaker from the Herd, serving young American Ben Shelter.
Speaker 11: The Rangers on November nineteenth were twelve and four. Rest
Speaker 11: of twenty twenty four they went four and fifteen, but
Speaker 11: since the new year began there are eight, one and
Speaker 11: three very much back in the playoff picture.
Speaker 4: It was easy at the Garden.
Speaker 11: Sixty one rout of Philadelphia was six different goal scorers.
Speaker 11: The capital is a top the NHL. They won three
Speaker 11: nothing at Seattle career goal number eight seventy five for
Speaker 11: a Solovashkian. Bruins won two nothing over Ottawa Celtics in LA.
Speaker 11: Lost to the Lakers once seventeen ninety six Spurs meet
Speaker 11: the Pacers in Paris. NBA All Stars starters announced some
Speaker 11: familiar names Lebron James, Kevin durand Steph Curry, and two
Speaker 11: next were named Jalen Brunston and Karl Anthony Towns. Thirty
Speaker 11: nine year old Liam Cohen is the new coach of
Speaker 11: the Jacksonville Jaguars. He had been coaching Tampa Bay's offense.
Speaker 11: The Cowboys said to be moving closer to promoting Brian Schottenheimer,
Speaker 11: Dallas's current offensive Cornada. The Atlanta Braves have signed free
Speaker 11: agent outfielder Jerkson Profar just had his best season with
Speaker 11: San Diego.
Speaker 4: John Stanshallen Bloomberg.
Speaker 1: Sports Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam,
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.
Speaker 3: President Trump is calling for lower oil prices, lower interest rates,
Speaker 3: and higher tariffs in a virtual address to the global
Speaker 3: elites gathered at the World Economic Forum.
Speaker 6: In my message to every business in the world is
Speaker 6: very simple. Come make your product in America and we
Speaker 6: will give you among the lowest taxes of any nation
Speaker 6: on Earth.
Speaker 4: We're bringing them.
Speaker 6: Down very substantially, even from the original Trump tax cuts.
Speaker 3: And the President reiterated that message at the Oval Office
Speaker 3: and in an interview with Fox News Channel. Joining us
Speaker 3: now is doctor Lindsay Newman, geopolitical risk analyst and calumnist
Speaker 3: at G zero Media. Thanks for being with us this morning,
Speaker 3: doctor Newman. The President is reiterating these tariff threats at
Speaker 3: the same time, though saying in that Fox interview that
Speaker 3: he would rather not impose tariffs on China. Where do
Speaker 3: you see the message from the President when it comes
Speaker 3: to the potential for trade wars with adversaries and allies
Speaker 3: at this point.
Speaker 12: Thanks Nathan, thank you for having me on again. It's
Speaker 12: a great question around what is the signal and what
Speaker 12: is the noise here. As you said, he said in
Speaker 12: his Davos remarks yesterday that he thinks the relationship with China,
Speaker 12: he expects it to be very good. He wants a
Speaker 12: fair relationship, he said. He doesn't need to be phenomenal,
Speaker 12: but he does want it to be fair. And as
Speaker 12: you said, he said he would rather not He knows
Speaker 12: China doesn't want those tariffs and posted and he himself
Speaker 12: would rather not impose those tariffs. But he also went
Speaker 12: on to then say it is a tremendous point of
Speaker 12: power or a tremendous point of leverage. We're hearing this
Speaker 12: number right now, around ten percent tariffs to be imposed
Speaker 12: on China, potentially to be imposed on China on February first,
Speaker 12: a far cry from the sixty to one hundred percent
Speaker 12: tariffs that he talked about during the campaign trail. But
Speaker 12: I think we need to be cautious here. And here's
Speaker 12: my one indicator that I would suggest to watch already,
Speaker 12: which is that in his executive order for trade, the
Speaker 12: sweeping America First Trade Policy Executive Order, he has instructed
Speaker 12: his team to not only investigate all and review all
Speaker 12: potential areas where tariffs could be warranted, but he's also
Speaker 12: setting up this external reserve services. You don't set up
Speaker 12: an organization to collect tariffs if you're not looking to
Speaker 12: collect tariffs.
Speaker 3: The President also said he was going to demand that
Speaker 3: Saudi Arabia and OPEK bring down the cost of oil,
Speaker 3: couching it as the idea that it could help bring
Speaker 3: the war in Ukraine to a more rapid end.
Speaker 4: What did you make of that comment.
Speaker 12: It was a really interesting one because most of yesterday's
Speaker 12: address by Trump at the World Economic Forum was really
Speaker 12: just a highlight reel of what his very young administration
Speaker 12: has already done in this first week, including taking responsibility
Speaker 12: for that ceasefire agreement in Israel, and then of course
Speaker 12: all these executive orders, which he touched on everything from
Speaker 12: inflation to deregulation efforts, immigration, etc. But then he broke
Speaker 12: some news, as you're saying here about this energy point,
Speaker 12: where he's saying he's going to ask the Kingdom and
Speaker 12: Obak to bring down oil pricing. We saw since that
Speaker 12: discussion he in fact, since this point that he raised it,
Speaker 12: oil did come down. And as you said, he even
Speaker 12: connected very interestingly the ongoing conflict in Russian Ukraine with
Speaker 12: height and oil price is saying he was even a
Speaker 12: bit if the sense was that he was a bit
Speaker 12: miffed that the prices haven't come down, because if they would,
Speaker 12: he thinks that the war would end immediately, and he's
Speaker 12: been very clear about how this war needs to end immediately.
Speaker 12: This relationship is one that we're going to have to
Speaker 12: watch closely. We should be watching closely between the US
Speaker 12: and Saudi Arabia, Between Donald Trump and MBS, we know,
Speaker 12: for example, that they had that the first foreign Leader's
Speaker 12: call was with MBS, where they talked about the kingdom's
Speaker 12: ambitions over the next years and next four years and
Speaker 12: how they can collaborate together. I wouldn't be surprised if,
Speaker 12: yet again, that is Donald Trump's first foreign trip.
Speaker 3: And how about the relationship between President Trump and global
Speaker 3: central banks. We heard the President in the Oval Office
Speaker 3: yesterday saying that he knows interest rates better than Jay
Speaker 3: Powell does. That he at the Davos forum called for
Speaker 3: central banks around the world to follow the US lead
Speaker 3: and lowering interest rates.
Speaker 4: Do you see a threat to FED independence?
Speaker 12: This is classic Donald Trump. This is nothing new. We
Speaker 12: saw it during first his first term where he also
Speaker 12: had these barbs around interest rates. In Powell, really, I
Speaker 12: would not expect anything sort of substantive there. We can
Speaker 12: expect more of that same rhetoric, and it is a
Speaker 12: point of leverage that he looks to apply to make
Speaker 12: it clear to both the domestic and global audience that
Speaker 12: he's going to ask for what he expects, and he's
Speaker 12: going to make clear what he expects, and he expects
Speaker 12: to see interest rates come down both further at home
Speaker 12: and in the global in the global economy. But Powell
Speaker 12: has been very clear about holding the line and domestic
Speaker 12: FED independence.
Speaker 3: Just thirty seconds left, He's going to ask for what
Speaker 3: he wants. Do you expect the world to answer?
Speaker 2: Well?
Speaker 12: So far, we've seen a ceasefire agreement in Israel that
Speaker 12: was at a logjam for many, many months on the
Speaker 12: Biden administration. It's this way in which he will intend
Speaker 12: to be quite ambitious, sort of flooding the field with
Speaker 12: his asks using both Caroden sticks this time around in
Speaker 12: which he will He will reshape the world. I think
Speaker 12: so in his vision.
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Speaker 4: And I'm Nathan Hager.
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