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Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Prisoner.

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Speaker 1: A passenger jet aircraft operated by PSA Airlines collided with

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Speaker 1: a US Army Blackhawk helicopter on approach to Runway thirty three,

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Speaker 1: and then it plunged into the Potomac River. PSA was

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Speaker 1: operating his flight fifty three forty two for American Airlines.

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Speaker 1: It had departed from Wichita, Kansas. The flight was carrying

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Speaker 1: sixty passengers and a crew of four. The New York

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Speaker 1: Times reports the Blackhawk was flying with a crew of three.

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Speaker 1: President Frum saying tonight he has been fully briefed and

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Speaker 1: the Ronald Reagan Airport has suspended all aircraft takeoffs and

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Speaker 1: landings in response to this incident. This is a developing story.

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Speaker 1: After the bell, Microsoft reported overall revenue for the latest

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Speaker 1: quarter above forecast. Total top line was sixty nine point

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Speaker 1: sixty three billion dollars. That's roughly seven hundred million dollars

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Speaker 1: above the average estimate. However, the revenue increase from the

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Speaker 1: Azure cloud unit was disappointing. Time CEO sut And Adella

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Speaker 1: had some kind words for Deep Seek. Here's a Nadella

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Speaker 1: speaking during Microsoft's earnings call.

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Speaker 2: I think deep seek has had some real innovations and

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Speaker 2: it's some of the things that even open aye found

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Speaker 2: in all one, and so we are going to obviously

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Speaker 2: now that's all gets commoditized and it's going to get

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Speaker 2: broadly used.

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Speaker 1: That is Microsoft CEO suck Ya Adella speaking there now.

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Speaker 1: At the same time, today, Microsoft said it's added deep

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Speaker 1: seeks R one AI model to its Azure AI foundry.

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Speaker 1: Even so, Microsoft will still investigate whether a group linked

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Speaker 1: to deep seek did obtain open AI's technology without authorization.

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Speaker 1: Tesla reported disappointing quarterly profit adjusted DPS of seventy three

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Speaker 1: cents two cent shy the average estimate. Now, this underscores

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Speaker 1: the challenge Tesla is facing giving fading demand for those

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Speaker 1: electric vehicles. But later on the call with analysts, CEO

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Speaker 1: Elon Musk pledged to return to growth in twenty twenty five.

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Speaker 1: Here's Musk.

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Speaker 3: We're working hard to grow our annual volumes up constraint.

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Speaker 3: Our current constraint is battery packs this year, but we're

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Speaker 3: working on addressing best constraints and I think we will

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Speaker 3: make progress on addressing that constraint and then things are

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Speaker 3: really going to go ballistic next year and really blissed

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Speaker 3: in twenty seven and twenty eight.

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Speaker 1: That is Tesla's CEO Elon Musk there. Today in late trading,

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Speaker 1: Shares and Tesla we're up more than four percent. Meta's

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Speaker 1: results for the latest quarter above estimates. However, the company's

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Speaker 1: sales forecast for the current quarter was a little disappointing,

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Speaker 1: But then on a call with analysts, CEO Mark Zuckerberg

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Speaker 1: predicted a really big year for Meta. He's expecting Meta's

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Speaker 1: AI assistant to reach over a billion people and for

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Speaker 1: it to become the most widely used in the industry.

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Speaker 1: Meta shares today up by more than three percent in

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Speaker 1: late US trading. The earnings cavalcade from the Magnificent seven

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Speaker 1: will continue on Thursday. That's when we'll here from Apple.

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Speaker 1: The company will report after the closing bell. We have

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Speaker 1: a preview from Bloomberg's Tom Busby.

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Speaker 4: Despite a real slump and iPhone sales in China and

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Speaker 4: being way behind other tech giants and rolling out AI products,

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Speaker 4: Apple still forecast to post record results with strong sales

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Speaker 4: of the AI capable iPhone sixteen here in the US,

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Speaker 4: as well as continued strong demand for services like Apple

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Speaker 4: Music at the app store. Bloomberg is expecting revenues to

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Speaker 4: rise three point eight percent. Consensus calls for total revenue

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Speaker 4: of one hundred and twenty four point one billion, earnings

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Speaker 4: per share of two dollars thirty five cents, Tom Busby

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Speaker 4: Bloomberg Radio.

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Speaker 1: The commotion around these earnings stole the spotlight from the

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Speaker 1: Federal Reserve. Today. The Fed left it's benchmark interest rate

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Speaker 1: unchanged at its first policy decision of twenty twenty five.

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Speaker 1: So FED funds remain in a target range of between

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Speaker 1: four and a quarter and four and a half percent.

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Speaker 1: Now that hold comes after one hundred basis points of

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Speaker 1: easing last year. So where is the so called neutral

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Speaker 1: rate or the level that's neither stimulating or restrictive. Here's

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Speaker 1: FED share. J Powell.

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Speaker 5: I would say we're meaningfully above it.

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Speaker 3: I am.

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Speaker 5: I have no illusion that anyone knows precisely how much

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Speaker 5: that is. But you know, not knowing that and having

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Speaker 5: cut one hundred basis points means that it's appropriate that

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Speaker 5: we that we not be in a hurry to make

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Speaker 5: further adjustment.

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Speaker 1: That is FED share J. Powell. There we got reaction

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Speaker 1: from Stephanie Roth, chief economist at Wolf for Search.

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Speaker 2: We're going to probably have some bad data for the

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Speaker 2: next couple months from an inflation perspective.

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Speaker 6: We still have the Q one seasonal problems from inflation,

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Speaker 6: so we're going to have to get through.

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Speaker 2: That, and then in May you can have.

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Speaker 3: Some better data because you'll start to see a little

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Speaker 3: bit of that.

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Speaker 4: Inflation coming out.

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Speaker 1: That is Stephanie Roth, chief economist at Wolf for Search. Meantime,

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Speaker 1: President Trump said today the FED has done a terrible

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Speaker 1: job on bank regulation. In a post on truth Social

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Speaker 1: Trump said the Treasury Department will now lead the effort

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Speaker 1: to cut unnecessary bank regulation. There will be two key

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Speaker 1: hearings tomorrow for members of the Trump cabinet who will

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Speaker 1: have a direct in US national security. Bloomberg's Amy Morris

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Speaker 1: has more from Washington.

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Speaker 6: The first Tulsey Gabbard, nominated for Director of National Intelligence.

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Speaker 6: Trump's allies are pushing for lawmakers to support Gabbert despite

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Speaker 6: concerns over her shifting positions on intelligence collection and statements

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Speaker 6: seen as sympathetic to Russia, plus her visit in twenty

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Speaker 6: seventeen to meet with Syria's Bashar al Assad. The second

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Speaker 6: is Cash Patel, nominated to head the FBI, an agency

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Speaker 6: he promises to radically overhaul. He faces opposition from Senate Democrats,

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Speaker 6: who believe he will erode political independence at the agency,

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Speaker 6: in part because of his loyalty to President Trump. In Washington,

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Speaker 6: Amy Morris Bloomberg Radio.

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Speaker 1: And that is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug Prisoner and this is Bloomberg