Speaker 1: News when you wanted with Bloomberg News. Now I'm Doug Prisner.
Speaker 1: The partial US government shutdown is over after President Trump
Speaker 1: signed a funding deal he negotiated with Senate Democrats.
Speaker 2: This bill is a great victory for the American people.
Speaker 2: Instead of a bloated and wasteful omnibus monstrosity full of
Speaker 2: special interests handass, we've succeeded in passing a fiscally responsible
Speaker 2: package that actually cuts wasteful federal spending while supporting critical
Speaker 2: programs for the safety, security, and prosperity of the American people.
Speaker 1: So the government is now funded through September thirtieth. Even so,
Speaker 1: the Department of Homeland Security has funding only through February thirteenth,
Speaker 1: as the President continues to negotiate with Democrats on new
Speaker 1: restraints for immigration enforcement agents. Here is Bloomberg's Megan Scully.
Speaker 3: Democrats have put forth several demands, including ICE agents and
Speaker 3: border patrol agents that are in America cities in Minneapolis
Speaker 3: and elsewhere taking their masks off, and that has been
Speaker 3: a non starter with House Speaker Mike Johnson. We have
Speaker 3: seen the Department of Homeland Security actually came out yesterday
Speaker 3: and said that ICE agents will be wearing body cameras,
Speaker 3: which has been another point of contention.
Speaker 1: That is Bloomberg's Megan Scully. The US Navy shot down
Speaker 1: and Iranian drone headed toward a US aircraft carrier in
Speaker 1: the Arabian Sea. US Central Command said the unmanned aircraft
Speaker 1: aggressively approached the USS Abraham Lincoln with unclear intent. Even so,
Speaker 1: White House Press Secretary Caroline love It says talks with
Speaker 1: Iran are still scheduled for later this week.
Speaker 4: These talks, as of right now, are still scheduled. President
Speaker 4: Trump is always wanting to pursue diplomacy first, but obviously
Speaker 4: it takes two to tango. You need a willing partner
Speaker 4: to achieve diplomacy, and that's something that Special Envoy Witcoff
Speaker 4: is intent on exploring and discussing. As always, though, of course,
Speaker 4: the President has a range of options on the table
Speaker 4: with respect to Iran as commander in chief.
Speaker 1: Now, today's incident did spook the oil market. WTI crude
Speaker 1: oil finished up one point seven percent to sixty three
Speaker 1: twenty one. FED Governor Stephen Myron has stepped down from
Speaker 1: his post leading the Council of Economic Advisors. Now, Myron
Speaker 1: had taken unpaid leave from his post after he was
Speaker 1: selected to be Fed governor. Now the White House is
Speaker 1: suggesting he could return to the role at CEA when
Speaker 1: his term as Fed governor is over. Myron has said
Speaker 1: he would remain at the FED until a successor is confirmed.
Speaker 1: Shares and software companies tumbled today on fears over how
Speaker 1: AI will impact their core businesses. The new release of
Speaker 1: an AI tool from Anthropic added to those worries. The
Speaker 1: first wave of today's selling was in stocks associated with
Speaker 1: legal software and publishing, and then media and financial data
Speaker 1: shares were also hit. The I shares expand tech software
Speaker 1: sector ETF was down today by four point six percent
Speaker 1: after the bell. Advanced micro Devices reported fourth quarter earnings
Speaker 1: above Wall Street estimates. However, the company gave a disappointing
Speaker 1: forecast for the current period. AMD is the main challenger
Speaker 1: to in Vidia in the market for those AI processors.
Speaker 1: Here's Ray Wong, CEO of Constellation Research.
Speaker 5: Well, right now, there is an a credible alternative to
Speaker 5: Nvidia at the moment. But when they get out their
Speaker 5: Helius chips and when they build the racks that are
Speaker 5: going to come in place, that's going to be the
Speaker 5: first time, in Vidia is going to have a credible
Speaker 5: challenge to the GPU dominance that they've had for quite
Speaker 5: some time. That's what the market's waiting for. But they
Speaker 5: haven't taken orders yet, they haven't announced as much as
Speaker 5: they need to, and right now these are just pure
Speaker 5: performance earnings pre GPU pre AI that they've been able
Speaker 5: to do, and it's a pretty good number there. But
Speaker 5: once again, the street isn't interested. So this is kind
Speaker 5: of where we are at the moment.
Speaker 1: That is, Ray Wong from Constellation Research shares in AMD.
Speaker 1: We're down by more than six percent in late US trading.
Speaker 1: Tomorrow after the closing, bell will hear from Alphabet. Bloomberg's
Speaker 1: Tom Busby has a preview.
Speaker 6: Google's parent company, Alphabet, expected to post solid revenue and
Speaker 6: profit growth for last quarter, with its cloud computing division
Speaker 6: expected to get a big boost from the release of
Speaker 6: its latest GEMINIAI models, which it also integrated into its
Speaker 6: Google Search and its Chrome browser like rivals Meta and Microsoft.
Speaker 6: The big focus for investors, though, is all the spending
Speaker 6: it's done on AI infrastructure and efforts to power its
Speaker 6: data centers. Bloomberg consensus calls for revenue of one hundred
Speaker 6: eleven point four billion dollars on Ernix per share of
Speaker 6: two dollars sixty five cents Tom Busby Bloomberg Radio.
Speaker 1: Executives from both Netflix and Warner Brothers Discovery defended their
Speaker 1: proposed merger today before a Senate panel. They were questioned
Speaker 1: on whether their deal will hurt competition in the market
Speaker 1: for streaming services. Republican Senator Mike Lee of Utah is
Speaker 1: chair of the Senate subcommittee that oversees competition and antitrust policy.
Speaker 7: One might say that Netflix seeks to become the one
Speaker 7: platform rule them all, or at least exercise a significant
Speaker 7: amount of market dominance. The merger raises numerous anti trust
Speaker 7: concerns in a nutshell consolidating both production and distribution power.
Speaker 1: Now, the Department of Justice and Europe's anti trust watchdog
Speaker 1: are both reviewing the Netflix Warner Brothers deal for antitrust issues.
Speaker 1: Paramount's Guidance is also trying to buy Warner Brothers Discovery. However,
Speaker 1: it's CEO David Ellison turned down an invitation to testify
Speaker 1: at today's hearing. And that is news when you want
Speaker 1: it With Bloomberg News. Now, I'm Doug Chrisner, and this
Speaker 1: is Bloomberg