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 the latest from Washington, d C.
Speaker 3: Where Congress is set to meet on a snowy Capitol
Speaker 3: Hill today to certify President elect Donald Trump's win in November.
Speaker 3: President Biden invited a group of new Democratic lawmakers to
Speaker 3: the White House last night and urged them to commit
Speaker 3: to a peaceful transfer of power.
Speaker 4: Now it's your duty to tell the truth. Remember what happened,
Speaker 4: and I'll let January sixth be rewritten as or even erased.
Speaker 3: The riot at the Capitol on January sixth, four years
Speaker 3: ago has turned into a political flashpoint, and President elect
Speaker 3: Trump is widely expected to grant swift clemency to the
Speaker 3: thousand plus people convicted over the events of that day.
Speaker 3: We get that story from Bloomberg's Doug Prisner.
Speaker 5: The President elect has downplayed the severity of the attack
Speaker 5: and announced its prosecutions, and he's expected to fulfill his
Speaker 5: promises of swift clemency for the one thousand plus people
Speaker 5: convicted and the hundreds more with pending cases. The question
Speaker 5: is how such a move would impact democracy and the
Speaker 5: rule of law. Mass pardons would also set the tone
Speaker 5: for how Trump might wield the presidency to reward loyalist
Speaker 5: and critics fear punish opponents. This year's January sixth election
Speaker 5: certification has for the first time been designated a National
Speaker 5: Special Security event. In New York. I'm Doug Prisner, Bloomberg.
Speaker 2: Radio, all right, dog, thank you, while looking to our
Speaker 2: neighbors to the north. Canada's Prime Minister Justin Trudeau is
Speaker 2: said to be preparing to announce his resignation. The Globe
Speaker 2: and Mail newspaper says the announcement could come as early
Speaker 2: as today. It would trigger a race for the party leadership,
Speaker 2: with the winner becoming PM. Trudeau has been under pressure
Speaker 2: from lawmakers in his party to quit for months. Scrutiny
Speaker 2: grew last month after his Finance minister, Christia Freeland quit.
Speaker 3: And politics around the Globe Karen, South Korea's corruption watchdog
Speaker 3: has asked a court in Seoul to extend a warrant
Speaker 3: to arrest President yunsuk yol. The move comes after their
Speaker 3: first attempt last week ended in failure following an hour's
Speaker 3: long standoff with the UN's security team. Secretary of State
Speaker 3: Anthony Blincoln is in Seoul. He expressed confidence in South
Speaker 3: Korea's acting.
Speaker 6: Later, We've got serious concerns about some of the actions
Speaker 6: that President unon took. We communicated those directly to the government.
Speaker 6: At the same time, we have tremendous confidence in the
Speaker 6: resilience of South Korea's democracy.
Speaker 3: And while Secretary of State Anthony Blincoln's in Seoul, North
Speaker 3: Korea fired an intermediate range ballistic missile toward its eastern waters.
Speaker 2: Well, Nathan, back here in the US, it's the first
Speaker 2: full work day with the New York City congestion pricing
Speaker 2: program in effect. Dim we get this story with Bloomberg's
Speaker 2: John Tucker and John it's something of a first Yeah.
Speaker 7: In fact, this was the first such program in the
Speaker 7: United States. Karen Morales lives north of New York and
Speaker 7: she's the main caregiver for her aging father who lives
Speaker 7: in Lower Manhattan, and her reaction is typical among drivers.
Speaker 7: She calls the toll and abuse of the working class
Speaker 7: to try to.
Speaker 3: Make more payments.
Speaker 8: Just to do that, I think it's hard for middle
Speaker 8: class person.
Speaker 7: Jenno Lieber, the head of the MTA, would rather focus
Speaker 7: on the benefits.
Speaker 9: The good news for the.
Speaker 7: Core function of fire and EMS is one of the
Speaker 7: principal goals is to make response.
Speaker 3: Times faster, and that's especially.
Speaker 7: Important for EMS fourteen hundred cameras and easy Pass detectors
Speaker 7: who are switched on Sunday to catch every vehicle traveling
Speaker 7: south of sixtieth Street and to hit them with a
Speaker 7: new nine dollars toll during peak travel times. This is
Speaker 7: all part of the plan to bring fifteen billion dollars
Speaker 7: to the MTA to upgrade subways and mass transit. The
Speaker 7: goal is to coax more people to use mass transit
Speaker 7: and encourage trucks to make deliveries overnight. One hurdle is
Speaker 7: that some residents still feel safe on the subways. The
Speaker 7: fatal burning last month of a woman sitting in a
Speaker 7: subway car at Cody Onand shocked the city. There have
Speaker 7: been several stabbings and incidents of people pushing riders onto
Speaker 7: train tracks and looming large over congestion. Pricing is the
Speaker 7: change of administration at Washington. President elect Trump opposes it
Speaker 7: New York. I'm John Tucker Bloomberg Radio.
Speaker 2: Well, we turn to the markets now and futures are hire.
Speaker 2: As we kick off the first full trading week of
Speaker 2: the new year. This morning, the yield on the thirty
Speaker 2: year treasury climb to its highest level since November of
Speaker 2: twenty twenty three. Right now, futures again higher, SMP futures
Speaker 2: up four tenths of percent, down futures up a tenth
Speaker 2: of up percent, NASDAG futures up seven tenths of percent,
Speaker 2: and the thirty year yield four point eight three percent.
Speaker 3: And this first full trading week of the year, Karen
Speaker 3: is going to feature a jobs report, fed minutes and
Speaker 3: a smattering of earnings news. Let's get a preview from
Speaker 3: Bloomberg's Charlie Pellett.
Speaker 9: Magnificent seven. Profit growth this year is projected to slow
Speaker 9: to seventeen point nine percent, learnings increases for the rest
Speaker 9: of the s and P five hundred accelerate to ten
Speaker 9: point nine percent. Emily Rowland is co chief investment strategist
Speaker 9: at JH Investments.
Speaker 10: In order for earnes to see these double digit estimates
Speaker 10: that are being banked in right now, you probably need
Speaker 10: to see bondyields come down a bit. Here. You probably
Speaker 10: need to see that cost of borrowing again sort of
Speaker 10: become a little bit more mitigated.
Speaker 9: Here this week, we hear from Constellation Brands, Delta and
Speaker 9: Sam Song in New York. Charlie Pale, Bloomberg Radio.
Speaker 2: All right, Charlie, thank you well. In deal news, Bloomberg
Speaker 2: News has learned Paychecks As in advanced talks to acquire
Speaker 2: pay Corps, a smaller rival in payroll processing. The acquisition
Speaker 2: would bring together two major players in the human resources
Speaker 2: software and services market, allowing for cost cuts and bundled
Speaker 2: services for customers. Shares of pay Core they are arising
Speaker 2: in early trading. They are of almost nineteen They're of
Speaker 2: at least twelve percent in early trading.
Speaker 3: Turning to the economy now Karen, two FED officials say
Speaker 3: the central bank must finish its fight on inflation and
Speaker 3: reach the two percent target. At the American Economic Association,
Speaker 3: FED Governor Adriana Kugler said the economy is growing at
Speaker 3: a healthy pace, but everyone needs to keep their eye
Speaker 3: on the labor market.
Speaker 8: It has cooled but remain resilient. And it has remained resilient.
Speaker 8: We still see real wages growing at about one point
Speaker 8: five one point six percent, and at the same time,
Speaker 8: though the unemployment rate has been stepping up a bed.
Speaker 3: It's still at.
Speaker 8: Four point two percent, which is a historically low rate
Speaker 8: of unemployment.
Speaker 3: Adriana Kugler went on to say the FED is moving
Speaker 3: toward the two percent inflation target, but there is work
Speaker 3: that still needs to get done. Speaking separately, Mary Daily,
Speaker 3: head of the San Francisco FED, said inflation remains uncomfortably
Speaker 3: above the fed's target.
Speaker 2: As time. Now, we're look at some of the other
Speaker 2: stories making news in New York and around the world,
Speaker 2: and for that we're joined by Bloomberg's Michael bar Michael,
Speaker 2: good morning, Good.
Speaker 11: Morning, Karen. A major winter blast off snow, ice, high winds,
Speaker 11: and plunging temperatures. They're stirring up dangerous conditions across the
Speaker 11: US Central and Southern states all the way to the
Speaker 11: East Coast. Bloomberg Media religiust Rob Carolyn has the latest.
Speaker 12: A significant winter storm will be affecting areas from the
Speaker 12: Ohio River Valley to the mid Atlantic today, with heavy
Speaker 12: snow likely in the district in Baltimore. Some areas are
Speaker 12: probably going to see anywhere from six to as much
Speaker 12: as ten inches of snow from this system. There will
Speaker 12: also be heavy rain extending from the system through the
Speaker 12: Carolinas into parts of Georgia and the Florida Panhandle. Behind
Speaker 12: the system, very cold air stretching from the Dakota's southward
Speaker 12: into Texas, and some of that'll be moving into the
Speaker 12: mid Atlantic States later this week. I'm Rob Carolyn Bloomberg Radio.
Speaker 11: Thank you Rob. It's a busy week for law enforcement
Speaker 11: in Washington, d C. They are preparing for the state
Speaker 11: funeral a former president, Jimmy Carter. Carter's body will remain
Speaker 11: in Atlanta through today before making the trip to d
Speaker 11: C for Thursday's funeral, where President Biden will delivered the eulogy.
Speaker 11: Thousands of extra police officers are being brought in, with
Speaker 11: hundreds of soldiers on standby, and the DC National Guard
Speaker 11: has been activated. The FBI says the man responsible for
Speaker 11: the deadly truck attack in New Orleans on New Year's
Speaker 11: Day visited the city twice before and recorded video of
Speaker 11: the French Quarter with smart glasses. Authorities saying the attack
Speaker 11: by Shim's Dude Dean Jabbar, killed fourteen people and injured
Speaker 11: dozens of others. The former US Army soldier proclaimed his
Speaker 11: support for Ices in online videos posted hours before he
Speaker 11: struck the Brutalist was crowned Best Drama Film at the
Speaker 11: Golden Globes last night. Adrian Brody won for Best Actor.
Speaker 11: In the movie, he plays a Hungarian Jewish architect who
Speaker 11: immigrates to the US to escape the Holocaust. During the
Speaker 11: CBS telecast broad he had a message for real life immigrants.
Speaker 1: I hope that this work stands to lift you up
Speaker 1: a bit and to give you a.
Speaker 3: Voice, and I'm so grateful. I will cherish this moment. Treford,
Speaker 3: thank you.
Speaker 11: Emilia Perez took home the Best Motion Picture, Musical or Comedy.
Speaker 11: Global News twenty four hours a day and whenever you
Speaker 11: want it with Bloomberg News. Now, I'm Michael Barr, and
Speaker 11: this is Bloomberg Cameron.
Speaker 2: All right, Michael Barr, thank you time now for the
Speaker 2: Bloomberg Sports Outdate, brought to you by Tri State Audie.
Speaker 2: Here's John Stanshower.
Speaker 3: John, good morning, Good morning care.
Speaker 13: In the NFL regular season ended in Detroit, Lions and
Speaker 13: Vikings both came in with a gaudy fourteen and two record,
Speaker 13: but only one would get the first round by home
Speaker 13: field advantage. The loser would have to play likely all
Speaker 13: their playoff games on the road. It figured to be
Speaker 13: a close game. It was not all Lions. They won
Speaker 13: thirty one to nine. There were four touchdowns scored in
Speaker 13: all four by Detroit Jamiir Gibbs. As for the Giants,
Speaker 13: the one hundred season in franchise history one of the worst.
Speaker 13: The club record fourteen losses, a twelfth loss in a
Speaker 13: row in Philadelphia, even with the Eagles arresting their best players, Philly,
Speaker 13: led by third string quarterback Tanner mc he won twenty
Speaker 13: to thirteen. And now we'll see if the Giants clean
Speaker 13: house or decide to keep coach Brian dave All and
Speaker 13: GM Joe Shane. We know the Jets are looking for
Speaker 13: a new coach in GM, probably a new QB.
Speaker 3: If this was Aaron Rodgers.
Speaker 13: Last Jet game, it was his best and it included
Speaker 13: a career milestone.
Speaker 3: Good shotgun for Rogers.
Speaker 14: Presaul in motion, He's back to throw steps up with
Speaker 14: the pocket Sidearms went over the middle top touchdown.
Speaker 13: Tyler Conklin and that is.
Speaker 14: Career touchdown pass number five hundred.
Speaker 13: Wax two Rogers joining the club with only four other
Speaker 13: members Tom Brady, Drew Brees, Peyton Manning and Brett Farvey.
Speaker 13: Through four teen passes, and the Jets beat Miami thirty
Speaker 13: two to twenty. The Patriots beat the Bills twenty three sixteen,
Speaker 13: but they went just four and thirteen for the second
Speaker 13: straight year, and just after the game ended, they fired
Speaker 13: Gerond Meyo. He gets just one season as Bill Belichick's successor.
Speaker 13: We'll see if Dallas fires Mike McCarthy after a season
Speaker 13: with only two home wins. The Cowboys on a TV
Speaker 13: with three seconds left, lost to Washington three three to nineteen.
Speaker 13: Commanders went twelve and five, their best season since nineteen
Speaker 13: ninety one. Denver got the last playoffs bought in the AFC.
Speaker 13: Tampa Bay got the last one in the NFC. The
Speaker 13: playoffs begin Saturday. The Rangers won six two at Chicago.
Speaker 13: The golf at Kapalua won by Hedeki Matsuyama with a
Speaker 13: PGA record score of thirty five.
Speaker 3: On DUPA, John stash that We're Bloomberg Sports.
Speaker 5: Kenny and Nathan.
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 Appum. This is Bloomberg Daybreak.
Speaker 3: Good morning, I'm Nathan Hager. Memories of January sixth, twenty
Speaker 3: twenty one are hanging over this January sixth, this Congress
Speaker 3: gets ready to gather today to certify Donald Trump as
Speaker 3: the next president of the United States. Outgoing President Joe
Speaker 3: Biden says it is a day American should never forget.
Speaker 4: Today that most of our history we took for granted
Speaker 4: the sixth, but I hope we never take it for
Speaker 4: granted again. You know, four years year ago, in January sixth,
Speaker 4: this capital was attacked by a violent.
Speaker 3: Mom and as president like Trump considers clemency for his
Speaker 3: supporters that day, President Biden told new Democratic lawmakers it
Speaker 3: is their duty to uphold the peaceful transfer of power. Today.
Speaker 3: Joining us this morning is Bloomberg's Kevin White Law. Kevin,
Speaker 3: we really are expecting this to be a much different
Speaker 3: January sixth than four years ago, aren't we a good morning?
Speaker 11: Yeah?
Speaker 14: I mean yes, thanks, we are, and I think you're seeing.
Speaker 14: First of all, it's being taken much more seriously as
Speaker 14: a security risk and many many more precautions being taken.
Speaker 14: There was no fencing around the Capitol last time. It
Speaker 14: hadn't been declared a major national security event. Up to
Speaker 14: that point, always been a reasonably pro former kind of
Speaker 14: thing where it kind of went and people didn't even
Speaker 14: really notice it. This time it's a very different thing.
Speaker 14: But you also have an administration in the Biden administration
Speaker 14: that is committed to a smooth process, taking part in
Speaker 14: it and making sure that they set an example for
Speaker 14: what a peaceful transfer of power is supposed to look like.
Speaker 3: And I guess we're seeing elements of that example in
Speaker 3: an op ed from the President in the Washington Post
Speaker 3: this morning talking about his determination to uphold the peaceful
Speaker 3: transfer power, even to return to the capital on January
Speaker 3: twentieth to attend President Trump's inauguration, something that the former
Speaker 3: now president elect did not afford President Biden four years ago.
Speaker 3: How likely is it, though, that President elect Trump moves
Speaker 3: quickly on clemency for his supporters from that.
Speaker 14: Yeah, I mean, he certainly has promised that he's going
Speaker 14: to move very quickly to you know, possibly even on
Speaker 14: the first day, to do some kind of clemency. I
Speaker 14: think the only question really is sort of how broad
Speaker 14: it is and is it a pardon, is it clemency
Speaker 14: for is it selective? Does it sort of encompass all
Speaker 14: of the prosecutions. There's obviously a lot of concern among
Speaker 14: sort of the Justice Department folks and prosecutors and even
Speaker 14: some judges who have made it clear this was obviously
Speaker 14: a very serious event. There were people who were injured.
Speaker 14: There there was even one who was killed. It was
Speaker 14: an event that did also tear apart of the country
Speaker 14: a little bit. And the notion of a mass pardon
Speaker 14: is has a lot of people worried about what that
Speaker 14: says about sort of, you know, potential future problems. Should
Speaker 14: should there be another kind of similar moment where someone
Speaker 14: in power resists the peaceful transfer of power. It's really
Speaker 14: unclear exactly what Trump is going to do, and it
Speaker 14: is possible that there will be a somewhat more you know,
Speaker 14: he could, for instance, separate non violent versus violent offenders
Speaker 14: and handle them differently. That's a possibility, but the broadery
Speaker 14: goes the more controversial. It's obviously going to be just.
Speaker 3: Thirty seconds left, Kevin. But if the president elect does
Speaker 3: do like a blanket clemency or a wide move like that,
Speaker 3: what does that mean for setting his agenda? I mean,
Speaker 3: he's talked about trying to pass a whole bunch of
Speaker 3: things in fell Swoop.
Speaker 14: Well, it does, and obviously a lot of what he's
Speaker 14: going to have to do if he wants to really
Speaker 14: be broad is could do it through this process called reconciliation,
Speaker 14: which is a way of doing it without the votes
Speaker 14: of Democrats. But it's going to be extremely hard. His
Speaker 14: margins and Congress are very narrow, and the broader clemency
Speaker 14: movement goes, the less Democrats are going to be willing
Speaker 14: to give him space on other parts of his agenda
Speaker 14: that will indeed need their votes.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
Speaker 2: making news from Wall Street to Washington and beyond.
Speaker 3: Look for us on your podcast feed by six am
Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2: You can also listen live each morning starting at five
Speaker 2: am Wall Street time on Bloomberg eleven three to zero
Speaker 2: in New York, Bloomberg ninety nine to one in Washington,
Speaker 2: Bloomberg ninety two to nine in Boston, and nationwide on
Speaker 2: serious XM Channel one twenty one.
Speaker 3: Plus listen coast to coast on the Bloomberg Business app
Speaker 3: now with Apple our Play and Android Atto interfaces, and.
Speaker 2: Don't forget to subscribe to Bloomberg News Now. It's the
Speaker 2: latest news, whenever you want it in five minutes or less.
Speaker 2: Search Bloomberg News Now on your favorite podcast platform to
Speaker 2: stay informed all day long. I'm Karen Moscow.
Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning for
Speaker 3: all the news you need to start your day right
Speaker 3: here on Bloomberg.
Speaker 2: Dabray