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

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today.

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Speaker 2: Karen, we begin with the latest from the World Economic

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Speaker 2: Forum at Davos, Switzerland, and a major reversal from President

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Speaker 2: Donald Trump when it comes to Greenland. The President now

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Speaker 2: says he will not impose tariffs on goods from countries

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Speaker 2: that oppose his effort to take possession of the island.

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Speaker 2: He says he has reached a framework of a future

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Speaker 2: deal on Denmark's territory after a meeting with NATO's Secretary

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Speaker 2: General Mark Ruta.

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Speaker 4: It's the ultimate long term deal and I think it

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Speaker 4: puts everybody in a really good position, especially as it

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Speaker 4: pertains to security and minerals.

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Speaker 5: And anything else.

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Speaker 2: President Trump is not giving details of the deal. He's

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Speaker 2: not saying whether it grants the US ownership of Greenland.

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Speaker 2: Secretary General Ruta says the island's sovereignty was not part

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Speaker 2: of the discussion.

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Speaker 6: We didn't go into those details at all. Well, we

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Speaker 6: know that the Danes are completely open to having more

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Speaker 6: American presidence in Greenland, and Greenland is open to debt,

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Speaker 6: and I think it's good that these discussions take place

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Speaker 6: visus three of them, because at the end I cannot

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Speaker 6: negotiate on behalf of anyone.

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Speaker 2: In an interview with Bloomberg News editor in chief John mclthwaite,

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Speaker 2: NATO's Secretary General Mark Rutz has said President Trump agreed

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Speaker 2: that the seven nations in the High North should work

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Speaker 2: together to protect the Arctic against any adversary. You can

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Speaker 2: catch the full conversation on the Bloomberg Podcast channel on YouTube.

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Speaker 3: Meanwhile, Nathan European leaders are meeting in Belgium today for

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Speaker 3: an emergency summit over Greenland, and Bloomberg A Chief europe

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Speaker 3: correspondent Oliver Crook is covering the gathering in Brussels.

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Speaker 5: We know apparently there will not be an invasion of Greenland,

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Speaker 5: which is a large relief for everybody in Brussels and

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Speaker 5: everybody presumably sitting in the room there in Davas. We

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Speaker 5: know that the tariffs will not go in effect on

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Speaker 5: February the first, and we know that this is apparently

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Speaker 5: down to Secretary General Mark Rutter's efforts to basically talk

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Speaker 5: Trump down and as ever to create an off wrap

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Speaker 5: for the President of the United States to make it

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Speaker 5: seem like there has been a victory in this while

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Speaker 5: at the same time trying to not contravene some of

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Speaker 5: the red lines here in Europe. So Trump has said

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Speaker 5: about this that this basically will deliver everything the United

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Speaker 5: States wants from a security standpoint, also from a raw

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Speaker 5: material standpoint. In terms of the actual details of the deal,

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Speaker 5: we have very little. We understand that it will apparently

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Speaker 5: not impinge upon a Danish sovereignty, and.

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Speaker 3: Bloomberg's all of our Kirk reports, Denmark has said repeatedly

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Speaker 3: that Greenland's sovereignty is not up for negotiation. The Secretary

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Speaker 3: General Ruta says Denmark is completely open to an increased

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Speaker 3: US presence on the island.

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Speaker 2: Well, Karen, President Trump's Greenland pivot has helped feel a

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Speaker 2: big rally on Wall Street. Let's get the very latest

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Speaker 2: from Bloomberg's John Tucker in New York.

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Speaker 7: John and Nathan call it a pivot or the taco

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Speaker 7: trade for a Trump always chickens out. The major stock

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Speaker 7: caverages in the US ended yesterday's session up over one percent.

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Speaker 7: A UBS basket of stocks exposed to tariffs that close

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Speaker 7: two point seven percent higher. Then you have shares of

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Speaker 7: car makers which are in some of the more vulnerable

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Speaker 7: to tariffs. The helping lead gains in Europe this morning,

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Speaker 7: with geopolitics on the back burner for now. Alison McCartney

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Speaker 7: at UBS sees the bull rally continuing this.

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Speaker 3: Bull market that began in late twenty twenty two. The

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Speaker 3: things that are motivating it and sustaining it have not

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Speaker 3: changed in the last forty eight hours.

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Speaker 7: Well still, technical signals are flashing. Some caution. Analysts warn

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Speaker 7: the S and P five hundred, who's approaching a setup

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Speaker 7: that can amplify market swings. Matt Mayley, the chief market

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Speaker 7: strategist at Miller Tabak, says of the latest market gain,

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Speaker 7: the president merely offset a short term problem that he

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Speaker 7: himself created. In New York, I'm John Tucker Bloomberg Radio.

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Speaker 3: All right, John, thank you. On Greenland's pension fund is

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Speaker 3: smilling whether it should continue investing in US stocks. Sees

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Speaker 3: a pension which manages around one point one billion dollars

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Speaker 3: currently has around a fifty percent exposure to the US.

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Speaker 3: This chief executives said is contemplating the move and what

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Speaker 3: would be a symbolic stand against President Trump's push to

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Speaker 3: cease control of the Arctic Island.

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Speaker 2: Well Davos today, Karen President Trump's Board of Peace initiative

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Speaker 2: is taking center stage of the proposed charter announcement on

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Speaker 2: the sidelines of the World Economic Forum. Russian President Vladimir

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Speaker 2: Putin says he's ready to commit frozen Russian assets in

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Speaker 2: the United States toward rebuilding damaged regions of Ukraine once

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Speaker 2: a deal to end the war is concluded. He also

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Speaker 2: told Russia's Security Council he could give a billion dollars

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Speaker 2: of those assets for membership in the Board of Peace.

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Speaker 2: Speaking at Davos, US Special ENVOYE. Steve Whitcoff gave an

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Speaker 2: update on plans for the Peace Board, which is still

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Speaker 2: in its early stages.

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Speaker 4: We've got twenty or maybe twenty five leaders who have

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Speaker 4: already said yes, this is not such an easy place

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Speaker 4: to get to. We had many people who we weren't

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Speaker 4: sure if they were going to even want to get

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Speaker 4: an invitation. Now the calling up for invitation, so everyone

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Speaker 4: wants to be a part of this. What we're going

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Speaker 4: to do here, what the President is going to do

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Speaker 4: here will be it'll be game changing for the world.

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Speaker 2: Fine, how Special Envoys Steve Whitcoff and President Trump's son

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Speaker 2: in law, Jared Kushner, are expected to arrive at the

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Speaker 2: Kremlin later today for talks with Vladimir Putin. Ukrainian President

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Speaker 2: Vladimir Zelenski is meeting with President Trump this morning at Davos.

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Speaker 3: Now, Nathan to a major story we're following here in

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Speaker 3: the US. Say, huge powerful winter storm sweeping across most

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Speaker 3: of the country, and we get the very latest at

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Speaker 3: Bloomberg meteorologist Craig Allen.

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Speaker 8: Two high impact weather events will be occurring starting tomorrow

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Speaker 8: and simultaneously affecting over two hundred million Americans through the weekend.

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Speaker 8: The first is a direct pipeline from the Arctic down

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Speaker 8: into the eastern half of the United States and alerts

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Speaker 8: for extreme cold cover twelve states already in the center

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Speaker 8: of the US from the Canadian border down to the

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Speaker 8: Gulf Coast, and we'll expand east. Concurrently, a storm is

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Speaker 8: developing in the west and will make the two thousand

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Speaker 8: mile track all across the country to the east coast

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Speaker 8: by bringing dangerous snow and ice all along its path.

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Speaker 8: Some cities may get their heaviest snow in over four

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Speaker 8: five years.

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Speaker 9: Craig.

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Speaker 2: Thanks, We'll be checking back with Bloomberg meteorologist Craig Gallon

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Speaker 2: throughout the morning. This storm is already affecting markets. US

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Speaker 2: natural gas futures have risen to their highest level since

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Speaker 2: twenty twenty two. In fact, we've seen seventy percent gains

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Speaker 2: over three days as frigid weather threatens to boost demand

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Speaker 2: and crimp supplies.

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Speaker 3: And Washington Nathan Supreme Court justices seem to suggest they're

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Speaker 3: wary of President Trump's effort to fire Federal Reserve Governor

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Speaker 3: Lisa Cook over allegations of mortgage fraud. In Bloomberg's Amy

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Speaker 3: Morris reports from.

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Speaker 10: Washington, Solicitor General John Sower argues that Cook isn't fit

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Speaker 10: to serve.

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Speaker 4: The American people should not have their interest rates determined

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Speaker 4: by someone who was at best grossly negligent and obtaining

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Speaker 4: favorable interest.

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Speaker 2: Rates for herself.

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Speaker 10: But those allegations are unproven, and the justices seem to

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Speaker 10: acknowledge that firing Cook could up end the Fed's independence.

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Speaker 10: Justice Brent Kavanaugh expressed skepticism of there being no judicial

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Speaker 10: review of the actions of the president.

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Speaker 11: Very low bar for cause that the president alone determines.

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Speaker 11: I mean that would weaken, if not shatter, the independence

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Speaker 11: of the Federal Reserves.

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Speaker 10: FED Governor Cook released a statement saying that as long

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Speaker 10: as she serves at the Federal Reserve, she will uphold

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Speaker 10: the principle of political independence. In Washington, amymore as Bloomberg

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Speaker 10: Radio Amy Thanks staying in the nation's capital.

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Speaker 2: Congress is one step closer to gaining authority to review

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Speaker 2: artificial intelligence chip sales to China. Let's get the latest

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Speaker 2: on that from Bloomberg's Lisa Mateo. Good morning Lisa, Yeah,

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Speaker 2: and good morning Nathan.

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Speaker 12: So this move, it's not likely to sit well with

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Speaker 12: the Trump administration and its plans to let in Nvidia

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Speaker 12: sell its h two hundred processors to China. So here's

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Speaker 12: what happened to House Committee. They approved bipartisan legislation endorsed

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Speaker 12: by the panels Republicans and Democrats, and it calls for

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Speaker 12: congressional oversight of advanced AI chip exports, including a ban

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Speaker 12: on Nvidia's Blackwell chips for at least two years. The

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Speaker 12: concern is at sending those highly advanced American chips to

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Speaker 12: the Asian it could strengthen its military and economy, threatening

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Speaker 12: US national security. The Trump administration officials will they argue

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Speaker 12: that selling in China's market will encourage foreign companies to

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Speaker 12: become reliant on American technology. Now that bill, it now

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Speaker 12: heads to the House for a floor vote. Lisa Matteo,

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Speaker 12: Bloomberg Radio.

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Speaker 3: All right, Lisa, thank you. As speaking of chips, we

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Speaker 3: will get earnings this afternoon from Intel. Bloomberg's Tom Busby

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Speaker 3: has more on what to look for.

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Speaker 13: Well.

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Speaker 14: After the US government took a ten percent stake in

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Speaker 14: Intel last year, the chip maker's share price has seen

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Speaker 14: a resurgence, but it's not out of the woods just yet.

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Speaker 14: Intel projected to see revenue decline for the fourth quarter,

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Speaker 14: but new processors for laptops are expected to result in

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Speaker 14: a rise in future orders, and there's been strong demand

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Speaker 14: for its bread and butter central processing chips, which are

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Speaker 14: used to support artificial intelligence. Bloomberg in Census calls for

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Speaker 14: revenue of thirteen point four to two billion dollars on

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Speaker 14: adjusted earnings per share of nine cents. Tom Busby, Bloomberg Radio.

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Speaker 3: Time now for a look at some of the other

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Speaker 3: storre m He's making news in New York and around

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Speaker 3: the world, and for that were joined by Bloomberg's Michael Barr. Michael,

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Speaker 3: good morning, Good.

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Speaker 9: Morning, Karen, a former Uvalde School's police officer who was

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Speaker 9: among the first to respond to the mass shooting at

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Speaker 9: the Texas Elementary school, has been acquitted of criminal charges

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Speaker 9: that he failed his duty to confront the gunman. Adrian

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Speaker 9: Gonzalez faced twenty nine charges of child abandonment and endangerment,

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Speaker 9: one count for each of the nineteen elementary students who

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Speaker 9: died in the shooting and ten students who survived. Two

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Speaker 9: teachers also died at rob Elementary School. In May of

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Speaker 9: twenty twenty two. Gonzales spoke outside.

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Speaker 13: The court, thank you for the jury for considering all

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Speaker 13: the evidence and making that.

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Speaker 9: Burd Gonzalez's lawyer, Jason Goss.

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Speaker 2: The prosecutor's chars and that he failed in some way

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Speaker 2: to try to do everything he could to help these children,

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Speaker 2: and the evidence showed that that wasn't true.

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Speaker 9: When the verdict was read, Gonzales broke down in tears.

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Speaker 9: Family members of the children killed also reacted, including Jesse Rizzo,

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Speaker 9: whose nine year old niece died in the massacre.

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Speaker 3: The duryman found him as innocent.

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Speaker 13: For the court of public opinion, he is a coward

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Speaker 13: and an absolute one hundred percent failure on that day.

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Speaker 9: Maine has become the latest target in the Trump administration's

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Speaker 9: immigration enforcement wave. Portland City Counsulor Wesley Pelletaire says, some

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Speaker 9: families are afraid to go outside.

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Speaker 13: I want to be really clear, this is a war

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Speaker 13: of terror that's being waged on our city by the

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Speaker 13: federal government.

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Speaker 9: Meanwhile, an appeals court suspended a decision that prohibited federal

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Speaker 9: officers from using teargas or pepper spray against peaceful protesters

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Speaker 9: in Minnesota. The US is set to leave the World

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Speaker 9: Health Organization today. President Trump removed the US from the

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Speaker 9: Global Health Group in twenty twenty, but the US rejoined

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Speaker 9: under President Biden. Global News twenty four hours a day

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Speaker 9: and whenever you want it with Bloomberg News Now Michael

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Speaker 9: Barr and this is Bloomberg.

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Speaker 13: Karen Well, thanks Michael.

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Speaker 3: A time now for our Bloomberg sports updating. For that,

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Speaker 3: bring in John Stashauer.

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Speaker 11: Thanks Darren. The Knicks had been slumping. They had lost

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Speaker 11: nine of their last eleven. Booed loudly by their fans.

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Speaker 11: At their last home game, this time at Madison Square Garden,

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Speaker 11: they beat the Nets one twenty to sixty six. They

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Speaker 11: won by fifty four. It's the most lopsided win in

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Speaker 11: Knick's history. College basketball top ranked Arizona with an easy

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Speaker 11: win seventh rank. Nebraska also won both teams for eighteen

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Speaker 11: and oh. The Yankees resigned outfielder Cody Bellinger. The Mets

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Speaker 11: acquired pitcher Freddy Peralta from Milwaukee. That's to Bloomberg Sports Update.

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Speaker 3: Stay with us. More from Bloomberg day Break coming up

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Speaker 3: after this.

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Speaker 1: 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 2: Good morning, I'm Nathan Hager. After threatening much of Europe

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Speaker 2: with tariffs for opposing his push for Greenland, President Trump

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Speaker 2: now says he has a framework of a future deal

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Speaker 2: on the island.

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Speaker 14: I'll catch everything we wanted, including especially real national security.

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Speaker 2: That was President Trump, after meeting on this with NATO's

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Speaker 2: Secretary General Mark Rutta on the sidelines of the World

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Speaker 2: Economic Forum in Davos, where we are joined once again

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Speaker 2: by Bloomberg Surveillance anchor Lisa Abromwitz. Lisa, Good morning. The

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Speaker 2: President says this deal gets the US everything it wanted.

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Speaker 2: President Trump has said he wants Greenland. Did he get it?

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Speaker 15: Good morning, Good morning Nathan. Well what we're hearing from

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Speaker 15: Rutta Speaking to our executive, our editor in chief, John

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Speaker 15: Micklelsway earlier this morning. Sovereignty of Greenland was not discussed.

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Speaker 15: It is unclear what the details are in this framework.

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Speaker 15: There is some reporting saying that the US may have

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Speaker 15: sovereignty over specific bases where troops are currently located. There's

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Speaker 15: other discussions around some sort of controlling stake in some

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Speaker 15: of the ware earth minerals, none of us has been confirmed.

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Speaker 15: I think there's a lot of confusion even by a

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Speaker 15: lot of the Europeans and a lot of the European

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Speaker 15: leaders about what this framework entails and how we got

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Speaker 15: a complete one eighty where suddenly both a military invasion

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Speaker 15: and tariffs were on the table and then off the table.

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Speaker 15: So the details still very much remaining to be seen.

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Speaker 2: So while we wait for those details, what could this

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Speaker 2: mean for Europe. There's been so much discussion, so much

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Speaker 2: concern about whether this push for sovereignty over Greenland could

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Speaker 2: affect the Alliance, the NATO itself.

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Speaker 15: There is a meeting on Thursday, I believe of European

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Speaker 15: leaders will be discussing exactly what the path forward is

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Speaker 15: going to be. And it was initially in place when

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Speaker 15: there was still the specter of some sort of military

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Speaker 15: incursion or invasion of Greenland with the lack of clarity

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Speaker 15: around tariffs. They're still going ahead with that, and I

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Speaker 15: think a lot of the discussion, to your point, is

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Speaker 15: going to be around what is the Europeans relationship with

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Speaker 15: the United States. I will just say the mood here

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Speaker 15: among Europeans among Canadians is pretty dark. There are a

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Speaker 15: lot of ill feelings from the speech yesterday by President Trump.

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Speaker 15: There is a sense of portrayal and a lack of trust.

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Speaker 15: When you speak to business leaders, they're relieved that there

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Speaker 15: is no military incursion on the table and that we

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Speaker 15: aren't tariffs and feel like this you shall pass. So

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Speaker 15: unclear exactly which way it will go, but the mood

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Speaker 15: is very different among European leaders about the pass forward

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Speaker 15: with its relationship with the United States.

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Speaker 2: Again, while we wait for those details, the focus now

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Speaker 2: is turning from Greenland to President Trump's push for a

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Speaker 2: board of peace for Gaza and possibly more than just Gaza.

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Speaker 2: We're watching the President speak right now about that. A

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Speaker 2: very interesting development, not just on who is on the

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Speaker 2: board potentially, but who isn't.

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Speaker 15: Yeah, and we've had a couple of leaders say that

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Speaker 15: they were not going to participate. This came after President

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Speaker 15: Trump talked about possibly a one billion dollar fee per

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Speaker 15: year to sit on the board. Also a lot of

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Speaker 15: questions around what its authority will actually be, what it

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Speaker 15: will oversee. I mean, look, there are more questions than answers.

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Speaker 15: Right now, President Trump is giving a speech in the

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Speaker 15: Congress Center. There are a host of leaders that are

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Speaker 15: behind him, sitting on the stage alongside him, including Javier

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Speaker 15: Malay of Argentina, among many others, and he's talking about

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Speaker 15: how the Board of Peace is going to be working

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Speaker 15: with the United Nations. Again, so much of what we

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Speaker 15: have heard there are these broad proclamations and there are

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Speaker 15: no details, and that has sort of been a theme

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Speaker 15: throughout Davos, certainly on the political sphere.

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Speaker 2: Yeah, more questions than answers on multiple fronts. To your point,

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Speaker 2: Thank you for this, Lisa. Once again great having us

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Speaker 2: from Davos. That is Bloomberg Surveillance anchor Lisa Abromwitz live

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Speaker 2: from the World Economic Forum.

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Speaker 3: Karen Nathan Let's now turn to another major story that

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Speaker 3: we're following, a powerful winter storm sweeping across a large

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Speaker 3: part of the country. We want to get the very

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Speaker 3: latest as Bloomberg meteorologist Rob Carolyn. Rob, good morning. Please

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Speaker 3: tell us where we stand right now.

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Speaker 13: Well, Cara, the storm system is just off the coast

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Speaker 13: of California and it's going to be working its way inland.

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Speaker 13: It's going to initiate a storm to develop over eastern

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Speaker 13: New Mexico and Texas tomorrow afternoon and tomorrow night. Right now,

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Speaker 13: according to latest computer guides, that storm system will track

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Speaker 13: through the Tennessee River Valley during Saturday night and early

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Speaker 13: Sunday morning, through the mid Atlantic States on Sunday, and

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Speaker 13: then off the coast of either the dev Varva or

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Speaker 13: southern New Jersey by Sunday night and early Monday, and

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Speaker 13: then south of New England Monday. There are over thirty

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Speaker 13: states that are going to be impacted by this storm,

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Speaker 13: from eastern New Mexico into the southern Ohio River Valley,

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Speaker 13: southern New England, and parts of the Northeast by the

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Speaker 13: time it's winding down Monday afternoon.

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Speaker 3: Tell us a bit about what it's bringing. I know

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Speaker 3: we're hearing reports of snow and ice how much.

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Speaker 13: Well, there are going to be some areas that definitely

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Speaker 13: see above a foot of snow. They're going to be

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Speaker 13: just north of the track. It looks like those areas

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Speaker 13: probably going to be around the Washington, DC area. They

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Speaker 13: could see up to a foot of snow. We may

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Speaker 13: also see a foot of snow around the Baltimore area

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Speaker 13: right in New Jersey. New York City right now looking

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Speaker 13: at probably a possibility of at least six inches of snow,

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Speaker 13: if not more, and Boston now is starting to see

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Speaker 13: an increased chance late in the weekend of seeing six

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Speaker 13: or more inches of snow. Will also have heavy snow

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Speaker 13: across areas of around Kansas City, Saint Louis. It also

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Speaker 13: looks like southern Indiana and even into parts of Kentucky

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Speaker 13: could see six to twelve inches of snow from the storm.

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Speaker 13: Further to the south, significant icing possible from Dallas to

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Speaker 13: Little Rock to around the Nashville area, and then also

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Speaker 13: over parts of the Carolinas. As we head through the weekend, and.

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Speaker 3: When you mentioned the timeline, when will this storm wrap

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Speaker 3: up and what happens after?

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Speaker 13: Still cold, very cold, it's going to stay cold across

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Speaker 13: the eastern two thirds of the country through the end

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Speaker 13: of the month. The storm will be wrapping up over

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Speaker 13: the central United States by the time we get into Sunday.

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Speaker 13: Sunday afternoon. For the Eastern Seaboard, it's a different story.

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Speaker 13: We'll be looking for the precipitation to more or less

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Speaker 13: wind down Saturday nights, say, around the district in Baltimore,

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Speaker 13: New York City area. It's probably not going to be

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Speaker 13: ending until sometime early on Monday, and it could be

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Speaker 13: still snowing into the early afternoon hours in eastern New

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Speaker 13: England on Monday.

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