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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm John Tucker and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: And Karen, let's start with the latest developments to end

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Speaker 3: the war in Ukraine. President Trump says Ukraine and Russia

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Speaker 3: are quote closer than ever before to a peace deal,

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Speaker 3: but he acknowledges that negotiations could still break down and

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Speaker 3: leave the war dragging out for years. Trump spoke yesterday

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Speaker 3: as he hosted Ukrainian President Florid Marzelenski at his Florida resort.

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Speaker 4: I really believe we're probably missed a president closer than

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Speaker 4: by far closer than ever before with both parties. We

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Speaker 4: had sometimes when he was close and President Putin wasn't.

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Speaker 4: Then when that President Putin was close and he wasn't.

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Speaker 4: You saw that in the White House. But I think

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Speaker 4: they both want to see it happen.

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Speaker 3: Well, let's get more in the meeting From Bloomberg's Ronsalin.

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Speaker 5: Matheson, Ezelensky and Trump had a what would seem to

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Speaker 5: be a pretty productive conversation from Donald Trump's point of view,

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Speaker 5: at least warm words afterward. So progress on those areas,

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Speaker 5: perhaps on the role in size of the Ukrainian military

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Speaker 5: after a war, and some understandings around the Ukraine economy,

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Speaker 5: including the trade arrangements with the US, but not a

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Speaker 5: lot of progress on the really biggest issues, the stickiest ones,

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Speaker 5: And there it seems still we're quite away from getting

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Speaker 5: a full agreement and one that certainly Ukraine and Russia

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Speaker 5: would sign.

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Speaker 3: Off on, Bloombergs, Russell and Mathieson, says v Lotivarzelenski. So

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Speaker 3: see as President Trump to consider the possibility providing his

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Speaker 3: country with security guarantees that would last thirty to fifty years.

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Speaker 2: Well, John President Trump has another high profile meeting on

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Speaker 2: the docket as Mara Lago Resort in Florida. He's scheduled

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Speaker 2: to meet with Israeli Prime Minister of Benjamin Attiniahou this afternoon.

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Speaker 2: The two aimed a booster US broker and cease fire

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Speaker 2: in Gaza, which faces challenges as it looks to move

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Speaker 2: into a more complicated second phase. That phase involves rebuilding

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Speaker 2: Gaza under international supervision, creating an international security force, and

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Speaker 2: normalizing relations between Israel and the Arab world.

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Speaker 3: And China kicked off military maneuvers around Taiwan that it

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Speaker 3: said included live fire drills to say had dramatic show force.

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Speaker 3: After the US announced one of its biggest arms packages

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Speaker 3: ever for the self run democracy, China has found to

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Speaker 3: quote take effective and strong measures to safeguard national sovereignty.

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Speaker 3: On Friday, it unveiled largely symbolic sanctions against twenty US

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Speaker 3: defense companies and ten executives.

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Speaker 2: John A powerful winter storm is sweeping east across the

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Speaker 2: United States, bringing a dangerous mix of snow, ice, rain,

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Speaker 2: and high winds, and we get more with Bloomberg Meteorologist

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Speaker 2: Craig Allen.

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Speaker 6: More than a dozen states with some kind of alert

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Speaker 6: or warning for a winter storm that is near the

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Speaker 6: Great Lakes and very powerful in moving towards the Saint

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Speaker 6: Lawrence River Valley. Have blizzards across the Upper Midwest, very

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Speaker 6: heavy snowfall in portions of the Great Lakes. There is

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Speaker 6: snow falling around Chicago, strong winds, damaging winds all the

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Speaker 6: way down through the Central Plains and the Tennessee, Ohio

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Speaker 6: Valleys into southern sections of the US and in the

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Speaker 6: East big lake effects snow just downwind of the lakes.

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Speaker 6: In New York State, there will be snow in portions

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Speaker 6: of New England. In fact, ice storm mornings for some

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Speaker 6: sections of New York, Vermont as well as New Hampshire

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Speaker 6: from Boston on down to New York City and Philadelphia

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Speaker 6: and Washington. There will be some heavy rain showers during

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Speaker 6: the day today and then followed by some very cold,

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Speaker 6: gusty winds.

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Speaker 2: And that's Bloomberg meteorologists Craig Allen are reporting. We will

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Speaker 2: be checking him with Craig throughout the morning.

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Speaker 3: And Carol, let's turn to the markets. Where futures right now,

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Speaker 3: I call it mixed. As we begin the last trading

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Speaker 3: week of twenty twenty five, still the stock averages hovering

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Speaker 3: near all time highs. And Robert Teeters, the chief investment

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Speaker 3: strategist at Silvercrust Asset Management.

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Speaker 7: The base case for next year is that we do

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Speaker 7: see very solid earnings growth, so kind of low teens

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Speaker 7: earnings growth, maybe a little bit of multiple compression now,

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Speaker 7: and part of that's just going to be a factor

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Speaker 7: of some of this rotation. Maybe you get a little

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Speaker 7: bit of pressure release valve out of the megacaps that

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Speaker 7: have been so strong, and I think strong for good reasons.

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Speaker 7: But as you get some of that rotation, multiples might

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Speaker 7: come down a little bit, So we're looking for high

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Speaker 7: single digit gains from equities next year, powered by double

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Speaker 7: digit earnings gains.

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Speaker 3: Silver Cresset Asset Management's Robert Teeter. So far this year,

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Speaker 3: the S and P five hundred up almost eighteen percent.

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Speaker 3: The Nasdaq is up twenty two percent.

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Speaker 2: John it's a volatile session and the commodities market. Silver

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Speaker 2: and gold are now lower after rising to records earlier,

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Speaker 2: and we get more with the Bloomberg Markets reporter Valerie Titel.

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Speaker 8: Today we're seeing some of the air come out of

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Speaker 8: Friday's blistering rally. Silver was up ten percent on Friday,

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Speaker 8: the biggest one day move since two thousand and eight.

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Speaker 8: If you look about the month of December, it's had

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Speaker 8: the biggest one month change since nineteen seventy nine, if

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Speaker 8: to go all the way back to the inflation days

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Speaker 8: of the seventy to see a similar rise in silver

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Speaker 8: in one month's time, up near forty percent just in

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Speaker 8: this month. This morning was quite a pronounced volatile session. Essentially,

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Speaker 8: silver moved eleven percent in an hour. It opened up

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Speaker 8: higher around six percent, breaking through eighty four dollars an

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Speaker 8: ounce for the first time ever. We've now come off

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Speaker 8: of that trading around seventy six dollars an ounce.

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Speaker 2: And that's one of our Marcus reporter Valerie Tyitel, who

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Speaker 2: again says gold is lower this morning after earlier rising

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Speaker 2: to a record, so is platinum, and.

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Speaker 3: Bank of America's CEO Brian moynihan says that maintaining the

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Speaker 3: banking system's independence is important. This comes as President Trump

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Speaker 3: is searching for a new chair for the Federal Reserve.

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Speaker 3: Here's moynihan speaking on CBS's Face the Nation.

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Speaker 9: Where a country's driven by the private sector, by what

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Speaker 9: people do, and in the businesses and the company, small

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Speaker 9: companies and large companies, medium sized companies and entrepreneurs and

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Speaker 9: doctors or always people drive our economy. The idea that

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Speaker 9: we are like hanging on a thread by the Fed

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Speaker 9: moving rates twenty five basis points seems to me we've

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Speaker 9: gotten out of whack.

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Speaker 10: Well.

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Speaker 3: Bank of America CEO Brian Mooinihan speaking on CBS's Face

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Speaker 3: to the Nation, and you can catch the program Sunday

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Speaker 3: afternoons on Bloomberg Radio. Moin Hands also says he expects

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Speaker 3: the Trump administration to de escalate trade tensions in twenty

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Speaker 3: twenty six, after the tariffs and shockwaves through the US

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Speaker 3: economy in twenty twenty five.

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Speaker 2: And we have an entertainment note this morning, John, Americans

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Speaker 2: are watching fewer new TV shows and more free TV.

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Speaker 2: In fact, free streaming services are growing more quickly than

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Speaker 2: paid ones, with YouTube being the fastest growing network on

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Speaker 2: TV and the Roku channel and two B also growing rapidly.

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Speaker 2: Netflix accounts are about two thirds of streaming hits, but

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Speaker 2: its lead is slipping. Its share of streaming viewership is

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Speaker 2: going down over time, and other major streaming services or

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Speaker 2: landing shows in the top ten on a regular basis. YouTube,

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Speaker 2: the Alphabet owned streaming service Eclipse Netflix is the most

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Speaker 2: popular streaming service on TVs a couple of years ago,

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Speaker 2: and it's never looked back. It is now larger than

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Speaker 2: Netflix and Amazon combined. Time now for a look at

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Speaker 2: some of the other stories making news in New York

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Speaker 2: and around the world, and for that we're joined by

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Speaker 2: Bloomberg's Michael Barr.

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Speaker 10: Michael, Good morning, Good morning Karen. Two helicopters crashed mid

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Speaker 10: air in New Jersey, killing one person and critically injuring another.

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Speaker 10: The Federal Aviation Administration says The crash happened over Hamilton

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Speaker 10: Municipal Airport, about thirty five miles southeast of Philadelphia. It

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Speaker 10: happened in Caitlin Collins's backyard, who came out of her

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Speaker 10: house and tried to comfort the surviving pilot. Colin says

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Speaker 10: they could hear sirens as first responders raced to the scene.

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Speaker 8: They said, they got here so fast, four minutes. I

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Speaker 8: don't know.

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Speaker 3: All I know is I was sitting down there just

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Speaker 3: holding his hand, just holding his hand, maybe trying to

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Speaker 3: crack a joke, saying, I.

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Speaker 1: Guess this isn't the way you thought you were to

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Speaker 1: start your day.

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Speaker 2: But we're here, like you're safe. We got you.

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Speaker 10: The NTSB is investigating, with a preluminary report expected as

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Speaker 10: soon as today. The man accused of place in two

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Speaker 10: pipe bombs in Washington on the eve of the January sixth,

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Speaker 10: twenty twenty one riot at the US Capitol told investigators

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Speaker 10: after his arrest that he believed someone needed to speak

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Speaker 10: up for people who believe the twenty twenty election was stolen.

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Speaker 10: Brian Cole Junior also said he wanted to target the

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Speaker 10: country's political parties because they were in charge. That's according

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Speaker 10: to a memo filed by the Justice Department on Sunday

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Speaker 10: arguing that Cole should remain jailed as the case moves forward.

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Speaker 10: Cole was arrested earlier this month on charges of placing

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Speaker 10: pipe bombs outside the headquarters of the Democratic and Republican

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Speaker 10: national Committees. A big change at the nation's largest public

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Speaker 10: transit system, New York City, officially ends its metro card

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Speaker 10: era at the end of the year. Jody Shapiro of

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Speaker 10: the New York Transit Museum says the swipeable plastic cart

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Speaker 10: replaced the subway token coin back in nineteen ninety four.

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Speaker 2: As a native New Yorker, I feel all the fuels

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Speaker 2: like people do. I don't want something that works to

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Speaker 2: go away.

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Speaker 10: The system switches fully to tap and go fares. Bridget Barde,

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Speaker 10: the French actress who became a global icon in the fifties,

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Speaker 10: died on Sunday. In nineteen seventy three, she quit the

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Speaker 10: movie industry to focus on animal rights. Bridget Bardea was

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Speaker 10: ninety one global news, twenty four hours a day and

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Speaker 10: whenever you want it with the Bloomberg News. Now Michael

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Speaker 10: Barr and this is Bloomberg.

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Speaker 2: Heret thanks Michael. Time now for our Bloomberg Sports update,

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Speaker 2: and for that we bring in Dan Schwartzman.

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Speaker 11: Huge Week seventeen in the NFL, as the Patriots locked

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Speaker 11: up their first AFC East Division title since twenty nineteen

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Speaker 11: with a dominating forty two to ten went over the Jets,

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Speaker 11: while the Bills fought home to the Eagles thirteen to twelve.

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Speaker 11: The Brown stun the Steelers thirteen to six to night

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Speaker 11: Pittsburgh winning THEFC North and the battle of eleven win teams,

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Speaker 11: the Niners getting past the Bear forty two to thirty eight.

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Speaker 11: The Giants destroyed the Raiders thirty four to ten to

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Speaker 11: snap their nine game losing streak, while the Seahawks improved

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Speaker 11: to thirteen and three as a twenty seven to ten

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Speaker 11: win over the Panthers. Elsewhere, the Jaguars beat the Colts

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Speaker 11: twenty three to seventeen, Dolphins out last of the Buccaneers

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Speaker 11: twenty to seventeen, while the Saints capacit Titans thirty four

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Speaker 11: to twenty six. On Monday Night Football, the Rams will

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Speaker 11: battle the Falcons in Atlanta. That's your Bloomberg Sports update.

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Speaker 2: Stay with us. More from Bloomberg Day Break coming up after.

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Speaker 1: This coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 3: Good morning up, John Tucker, who President Trump said, he

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Speaker 3: may quote, a lot of progress in the talks with

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Speaker 3: the Ukrainian president Vladimir Selenski was over the possible peace

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Speaker 3: deal in Rush's war against Ukraine. Let's find out more

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Speaker 3: this morning. We're joined by Bloomberg's Russia Economics Senator Greg Sullivan. Greg,

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Speaker 3: good morning to you, thanks for being with us. What

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Speaker 3: exactly have they agreed.

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Speaker 10: To so far?

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Speaker 12: Well, yes, President Trump did characterize those talks with Ukrainian

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Speaker 12: President Volodimir Zelenski as having made progress, but it is

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Speaker 12: a little difficult to see where exactly the progress was made.

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Speaker 12: President Zelenski did say that there was one hundred percent

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Speaker 12: agreement on the issue of US Ukraine security guarantees, which

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Speaker 12: was somewhat important given that this has been an important

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Speaker 12: issue for Kia throughout the negotiating process and they had

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Speaker 12: a little difficulty bringing the US on board. Of course,

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Speaker 12: though he said they have one hundred percent agreement, we

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Speaker 12: don't have the actual agreement or no, exactly the contours

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Speaker 12: of those security agreements. And he also said that on

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Speaker 12: the issue of Europe, Ukraine and the US security agreements,

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Speaker 12: they were only at ninety percent, so it's an important issue.

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Speaker 12: It's also hard to see what Ukraine and the US

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Speaker 12: can agree to that Russia would accept. Russia has long

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Speaker 12: thrown a spanner in the works on this issue, so

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Speaker 12: that's still tough to see.

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Speaker 3: Those security guarantees. How long would they last or what

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Speaker 3: does Zelenski want.

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Speaker 6: Well.

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Speaker 12: President's Lensky spoke with reporters today and he said that

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Speaker 12: he actually asked President Trump for a thirty to fifty

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Speaker 12: year commitment on the security guarantees. Obviously, Ukraine has sought

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Speaker 12: joining NATO as the primary security guarantee, but that the

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Speaker 12: US has tamped that down since the Trump administration started,

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Speaker 12: and that has been a non starter for Russia. But

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Speaker 12: it is really hard to see what Russia would accept

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Speaker 12: in terms of say, European troops on Ukrainian soil. They've

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Speaker 12: ruled that out in the past, but Ukraine wants a

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Speaker 12: security guarantee that's strong enough to dissuade Russia from simply

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Speaker 12: restarting hostilities down the road.

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Speaker 3: Now, what about territorial concessions of the part of Ukraine.

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Speaker 12: Well, this is a major sticking point and perhaps potentially

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Speaker 12: the biggest one that has been left mostly unresolved. President

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Speaker 12: Trump said that they had made some progress toward that,

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Speaker 12: but there was no additional details, and it's unclear where

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Speaker 12: they stand on that. Moscow has been seeking this territory

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Speaker 12: in eastern Ukraine, in an area known as the dun Boss.

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Speaker 12: Ukraine is concerned because part of it is heavily fortified

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Speaker 12: and if they seed it that could leave them vulnerable

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Speaker 12: to future Russian attacks. But it's also a politically charged issue. Zelenski.

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Speaker 12: It would not be popular among Ukrainian people to simply

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Speaker 12: see territory that Kiv still controls, and also legally hard

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Speaker 12: they probably have to be a referendum. So it doesn't

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Speaker 12: seem like much progress has been made. Russia has shown

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Speaker 12: no signs of backing down on this, and even over

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Speaker 12: the weekend, President Putin said that he's willing to continue

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Speaker 12: pursuing his goals militarily. So the two sides still seem

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Speaker 12: rather far apart on that issue.

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Speaker 3: In like the forty five seconds we have left, where

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Speaker 3: does NATO where's NATO and Europe in all of this?

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Speaker 10: Right now?

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Speaker 12: Well throughout the negotiating process since President Trump came to power,

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Speaker 12: Europe has really struggled to maintain a seat at the table.

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Speaker 12: Russia does not want them at the table. The US

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Speaker 12: seems to consider it not that important. But for Europe

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Speaker 12: this is very important. They see this as part of

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Speaker 12: their own security architecture. So NATO has been trying to

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Speaker 12: be involved in terms of security guarantees. It's obviously going

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Speaker 12: to be tough. Ukraine does not seem poise to be

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Speaker 12: able to join NATO anytime soon, but they are seeking security.

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Speaker 12: Natoake guarantees for their own security, and Europe could play

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Speaker 12: a role in those down the road, and even Trump

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Speaker 12: acknowledged that Europe would probably have to play a role

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Speaker 12: in the security for Ukraine.

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