1
00:00:00,520 --> 00:00:03,640
Speaker 1: News when you want it with Bloomberg News Now, I'm

2
00:00:03,760 --> 00:00:07,640
Speaker 1: Charlie Pellett. President elect Donald Trump says he will block

3
00:00:07,840 --> 00:00:11,000
Speaker 1: US steel from being bought by Nipon Steel when he

4
00:00:11,039 --> 00:00:14,480
Speaker 1: becomes president. This according to a post on truth Social

5
00:00:14,920 --> 00:00:18,079
Speaker 1: He says, quote, I am totally against the once great

6
00:00:18,120 --> 00:00:21,720
Speaker 1: and powerful US steel being bought by a foreign company,

7
00:00:21,760 --> 00:00:26,400
Speaker 1: in this case Nipon Steel of Japan. Sources tell Bloomberg

8
00:00:26,520 --> 00:00:30,400
Speaker 1: SpaceX is in discussions to sell insider shares that could

9
00:00:30,440 --> 00:00:34,159
Speaker 1: boost the value of Elon Musk's rocket and satellite company

10
00:00:34,159 --> 00:00:38,080
Speaker 1: to around three hundred fifty billion dollars. That would be

11
00:00:38,120 --> 00:00:41,800
Speaker 1: a significant premium to a previously mauled valuation of two

12
00:00:41,960 --> 00:00:45,680
Speaker 1: hundred fifty five billion, as reported by Bloomberg News and

13
00:00:45,800 --> 00:00:49,160
Speaker 1: other media outlets just last month. It would also cement

14
00:00:49,360 --> 00:00:53,800
Speaker 1: SpaceX's status as the most valuable private startup in the world.

15
00:00:54,400 --> 00:00:57,640
Speaker 1: Federal Reserve Bank of Atlanta president Raphael Bostik says he

16
00:00:57,760 --> 00:01:01,160
Speaker 1: is undecided on whether an intra straight cut is needed

17
00:01:01,200 --> 00:01:05,360
Speaker 1: this month, but still believes officials should continue lowing rates

18
00:01:05,400 --> 00:01:09,560
Speaker 1: overcoming months and with more. Here's Bloomberg's Tom Busby.

19
00:01:09,480 --> 00:01:12,360
Speaker 2: In an essay, Bostic said quote the risks to achieving

20
00:01:12,360 --> 00:01:16,080
Speaker 2: the Committee's dual mandates of maximum employment and price stability

21
00:01:16,080 --> 00:01:19,240
Speaker 2: have shifted such that they are roughly in balance, so

22
00:01:19,280 --> 00:01:22,800
Speaker 2: we likewise should begin shifting monetary policy toward a stance

23
00:01:22,959 --> 00:01:27,959
Speaker 2: that neither stimulates nor restrains economic activity. Unquote Boss six set,

24
00:01:28,000 --> 00:01:30,200
Speaker 2: he thinks inflation is on a sustainable path to the

25
00:01:30,200 --> 00:01:34,120
Speaker 2: Fed's two percent goal, despite bumpiness in the data. He

26
00:01:34,200 --> 00:01:37,679
Speaker 2: also said the labor market shows no sign of rapidly deteriorating,

27
00:01:37,880 --> 00:01:40,839
Speaker 2: but policymakers need to stay alert to risks facing both

28
00:01:40,840 --> 00:01:44,440
Speaker 2: inflation and employment. Tom buzzby Bloomberg Radio.

29
00:01:44,640 --> 00:01:48,520
Speaker 1: French Prime Minister Michelle Barnier has invoked the French Constitution's

30
00:01:48,600 --> 00:01:51,920
Speaker 1: Article forty nine point three to force the divisive social

31
00:01:51,920 --> 00:01:55,400
Speaker 1: security budget through the National Assembly without a vote.

32
00:01:55,440 --> 00:01:58,760
Speaker 3: This bill is now here. Now is the time to

33
00:01:58,880 --> 00:02:02,320
Speaker 3: act infinite. I believe we've now reached a moment of

34
00:02:02,400 --> 00:02:06,800
Speaker 3: truth which confronts everyone with their responsibilities. It's now up

35
00:02:06,800 --> 00:02:09,520
Speaker 3: to you, members of the Parliament of the Nation, to

36
00:02:09,600 --> 00:02:14,240
Speaker 3: decide whether our country adopts responsible financial texts essential and

37
00:02:14,360 --> 00:02:16,079
Speaker 3: useful to our fellow citizens.

38
00:02:16,200 --> 00:02:19,400
Speaker 1: Marine le Penn's far right National rallies said it would

39
00:02:19,440 --> 00:02:23,000
Speaker 1: back a motion to topple the French government after Prime

40
00:02:23,040 --> 00:02:26,240
Speaker 1: Minister Barcnier failed to agree to all its demands on

41
00:02:26,440 --> 00:02:30,640
Speaker 1: next year's budget. President Biden is facing backlash after issuing

42
00:02:30,680 --> 00:02:33,240
Speaker 1: a pardon to his son Hunter for federal tax and

43
00:02:33,280 --> 00:02:37,880
Speaker 1: weapons charges. White House Press Secretary Kareine Jean Pierre defended

44
00:02:37,919 --> 00:02:38,280
Speaker 1: the move.

45
00:02:38,480 --> 00:02:42,280
Speaker 4: He said he wrestled with us and because he believes

46
00:02:42,320 --> 00:02:45,080
Speaker 4: in the justice of sum but he also believes that

47
00:02:45,120 --> 00:02:49,200
Speaker 4: the war politics infected the process and led to a

48
00:02:49,240 --> 00:02:50,320
Speaker 4: miscarriage of justice.

49
00:02:50,360 --> 00:02:54,480
Speaker 1: White House Press Secretary Kareine Jean Pierre another record today

50
00:02:54,520 --> 00:02:56,760
Speaker 1: for the S and P five hundred index. It was

51
00:02:56,880 --> 00:03:00,560
Speaker 1: the fifty fourth this yearns DAK also climb to a

52
00:03:00,600 --> 00:03:03,960
Speaker 1: new record, ending the day at nineteen thousand, four hundred

53
00:03:04,000 --> 00:03:06,959
Speaker 1: and three. A rally in the world's largest tech companies

54
00:03:07,040 --> 00:03:10,480
Speaker 1: drove stocks to those new records. J Woods is chief

55
00:03:10,520 --> 00:03:14,160
Speaker 1: global strategist at Freedom Capital Markets, and he was interviewed

56
00:03:14,160 --> 00:03:15,480
Speaker 1: on Bloomberg the close.

57
00:03:15,680 --> 00:03:18,400
Speaker 3: We're seeing rotation not just from sector to sector, but

58
00:03:18,480 --> 00:03:19,399
Speaker 3: with in the sectors.

59
00:03:19,520 --> 00:03:22,160
Speaker 1: So when you see that invidious.

60
00:03:21,639 --> 00:03:23,200
Speaker 2: Coming back in the semis are coming back.

61
00:03:23,480 --> 00:03:26,080
Speaker 3: This is fantastic, and this is setting us up to

62
00:03:26,160 --> 00:03:28,919
Speaker 3: catapult again to start off twenty twenty five.

63
00:03:28,760 --> 00:03:33,919
Speaker 1: J Woods of Freedom Capital Markets. Intel shares declined five

64
00:03:34,040 --> 00:03:37,360
Speaker 1: tenths of one percent today after CEO Pat Gelsinger was

65
00:03:37,400 --> 00:03:40,760
Speaker 1: forced out. It happened after the board lost confidence in

66
00:03:40,800 --> 00:03:44,080
Speaker 1: his plans to turn around the iconic chip maker, adding

67
00:03:44,120 --> 00:03:47,680
Speaker 1: to turmoil at one of the pioneers of the tech industry.

68
00:03:47,800 --> 00:03:51,440
Speaker 1: Caroline Hyde is the co host of Bloomberg Technology.

69
00:03:52,080 --> 00:03:54,480
Speaker 5: The years, you know, they were trying to do the

70
00:03:54,520 --> 00:03:57,640
Speaker 5: biggest restructuring in four decades. Pat did come on with

71
00:03:57,680 --> 00:03:59,720
Speaker 5: a very big bold vision. Perhaps that was two big

72
00:03:59,800 --> 00:04:03,200
Speaker 5: two bowld too costly, even with government help, with all

73
00:04:03,200 --> 00:04:05,160
Speaker 5: these chips that money coming at them, to be able

74
00:04:05,160 --> 00:04:07,600
Speaker 5: to build an Ohio Arizona, they had to suddenly put

75
00:04:07,640 --> 00:04:10,440
Speaker 5: on ice what was happening in Europe, and ultimately the

76
00:04:10,480 --> 00:04:12,880
Speaker 5: market ripped away from them, particularly when it came to.

77
00:04:12,840 --> 00:04:17,680
Speaker 1: AI Bloomberg's Caroline Hyde. Intel today down five tenths of

78
00:04:17,680 --> 00:04:20,400
Speaker 1: one percent and video is up three tenths of one percent,

79
00:04:20,440 --> 00:04:25,159
Speaker 1: while advanced micro devices gained three point six percent. Nike

80
00:04:25,520 --> 00:04:29,640
Speaker 1: is shutting down its digital sneaker division Artifactors, the world's

81
00:04:29,720 --> 00:04:34,760
Speaker 1: largest athleticware company realigns priorities under a new CEO. Nike

82
00:04:34,920 --> 00:04:39,000
Speaker 1: Chief executive Officer Elliot Hill, has reshuffled leadership roles since

83
00:04:39,160 --> 00:04:41,880
Speaker 1: he took over in October, but has yet to present

84
00:04:42,120 --> 00:04:44,919
Speaker 1: a turnaround plan. And that's news when you want it.

85
00:04:44,920 --> 00:04:49,040
Speaker 1: With Bloomberg News Now, I'm Charlie Pelatan. This is Bloomberg