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Speaker 1: Good morning, I'm Nathan.

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Speaker 2: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 2: following today.

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Speaker 1: Let's get you caught up on what's happening in the

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Speaker 1: Middle East. The focus is turning to hospitals in Gaza,

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Speaker 1: where Israel accuses Hamas of housing command centers and weapons.

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Speaker 1: President Biden says the Alshifa Hospital in Gaza City must

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Speaker 1: be protected.

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Speaker 3: I have not been reluctant and especially my concerns going

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Speaker 3: on and is my hope and expectation that there will

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Speaker 3: be less intrusive action role through hospital.

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Speaker 1: President Biden's concern about civilian casualties is being answered by

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Speaker 1: Israel's Economy Minister Near Barkat, do.

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Speaker 4: You understand that we have to wipe isis Comeaus off

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Speaker 4: the map and we will do it with minimal collateral damage.

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Speaker 4: This is our values. We don't need to be told

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Speaker 4: that we know that ourselves.

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Speaker 1: Israelly Economy Minister Near Barcott spoke on Bloomberg Business Week.

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Speaker 1: You can hear more of his comments on the BusinessWeek podcast.

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Speaker 1: Download it wherever you get your podcasts.

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Speaker 5: Well, Nathan.

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Speaker 2: As the war goes on, tens of thousands of Israel

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Speaker 2: supporters are gathering in Washington, d C. To show their solidarity.

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Speaker 2: On Bloomberg's Amy Moore, supports from the nation's capital.

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Speaker 6: Organizers are expecting up to one hundred thousand people to

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Speaker 6: attend today's event on the National Mall Capitol Hill. Security

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Speaker 6: will be boosted, access to the capital will be restricted.

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Speaker 6: Roads are being closed. DC police have requested assistance from

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Speaker 6: the National Guard and the Department and If Homeland Security

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Speaker 6: has designated the march a Level one security event that's

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Speaker 6: the highest rating of risk assessment. The FBI says there's

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Speaker 6: no specific threat, but there is fear of loan actors

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Speaker 6: attacking pro Israel demonstrators coming to DC. The event begins

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Speaker 6: at one this afternoon on the National Mall in Washington.

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Speaker 6: I maye more is Bloomberg Radio.

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Speaker 1: Oka, Amie, thank you staying in Washington. This could be

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Speaker 1: a critical twenty four hours in Congress's attempt to keep

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Speaker 1: the government funded. Bloomberg Zed. Baxter has the story.

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Speaker 7: House Speaker Mike Johnson says he'll bring the bill to

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Speaker 7: the House floor in spite of negative reaction from the

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Speaker 7: right wing of his party, who wanted spending cuts included.

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Speaker 7: Senate Majority Leader Chuck Schumer has opened the door to

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Speaker 7: a settlement for now.

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Speaker 8: I am pleased that Speaker Johnson seems to be moving

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Speaker 8: in our direction by advancing a cr that does not

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Speaker 8: include the highly partisan cuts the Democrats have warned against.

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Speaker 7: And President Biden also has often saying he'll wait to

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Speaker 7: see The deadline is Friday midnight, add Baxter, Bloomberg Radio.

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Speaker 2: All right, and thank you well. We turned to the

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Speaker 2: economy now, and we get the first of two big

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Speaker 2: readings on inflation this morning. With the consumer price index

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Speaker 2: for October. Economists say inflation probably ease to an annual

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Speaker 2: rate of three point three percent, and we get a

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Speaker 2: preview from Bloomberg's crety GUPDA.

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Speaker 9: There are some varied estimates here, but I think the

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Speaker 9: takeaway is simply that some of the disinflation, the progress

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Speaker 9: essentially that has been happening in the US economy when

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Speaker 9: it comes to inflation, is going to slow down. So

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Speaker 9: it's not that it's going to increase, but it's also

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Speaker 9: not going to be making as much downward progress as

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Speaker 9: we expect, at least has to take out of Bloomberg Economics,

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Speaker 9: and I think that's the concern here for a lot

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Speaker 9: of the people who are pricing in a more dubvish

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Speaker 9: Federal Reserve, which is simply that this is going to

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Speaker 9: be the key data point that suggests the Federal Reserve

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Speaker 9: is not done hiking at all. You heard Chairman Powell

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Speaker 9: last week hint at that and kind of say, well,

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Speaker 9: we're going to be as hawkish as we need to be.

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Speaker 9: This is the data point that might back that up.

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Speaker 2: And Bloomberg's CRETTY group disays today's inflation data is not

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Speaker 2: likely to shift traders views on the fits December meeting.

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Speaker 1: Days after the US was threatened with the loss of

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Speaker 1: its last top credit rating from Moody's the Treasury Secretary

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Speaker 1: is firing back. Janet Yellen spoke in San Francisco yesterday.

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Speaker 10: This is a decision that I disagree with. The American

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Speaker 10: economy is fundamentally strong, and Treasury securities remain the world's

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Speaker 10: pre eminent safe and liquid.

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Speaker 1: ASCID Secretary Yellen's in San Francisco for meetings with finance

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Speaker 1: ministers from across the Pacific, Rim Nathan.

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Speaker 2: The big meeting from the Asia Pacific Economic Cooperation Summit

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Speaker 2: comes tomorrow, when President Biden speaks with this Chinese counterpart,

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Speaker 2: seson Ping. Bloomberg News has learned the two leaders will

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Speaker 2: announce an agreement that could see Beijing crackdown on the

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Speaker 2: manufacturer and export of fentanyl. We spoke about the opioid

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Speaker 2: crisis with San Francisco Mayor London.

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Speaker 11: Breed resources that are being sent out of China that

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Speaker 11: come into either the US or Mexico are cut off

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Speaker 11: to the fullest extent possible. That we work together in

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Speaker 11: order to ensure that this deadly poison that is killing

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Speaker 11: people in San Francisco in significant numbers and all over

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Speaker 11: the country, that we're able to combat this to stop it.

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Speaker 2: San Francisco Mayor London Breed says fentanyl has devastated her

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Speaker 2: city like no other drug in her lifetime.

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Speaker 1: Let's turn to some corporate news now, Karen, we have

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Speaker 1: a takeover in the commodities industry. Switzerland's Glencore has agreed

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Speaker 1: to buy a majority stake in Canada's tech resources coal

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Speaker 1: business for more than six point nine billion dollars. The

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Speaker 1: d ns a month's long saga and sets the stage

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Speaker 1: for glen Core to spin off its own coal unit.

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Speaker 2: Well, Nathan, a big week for retail earnings kicks off

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Speaker 2: with Home Depot. We're reporting this morning, and we get

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Speaker 2: a preview with the Bloomberg's Tom Busby.

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Speaker 5: Home Depot forecast report a fourth straight quarterly decline at

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Speaker 5: same store sales as the one to two punch of

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Speaker 5: surging mortgage rates and record high home prices caused a

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Speaker 5: slump in US home sales, putting it in to the

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Speaker 5: home improvement boom we saw during the pandemic. Bloomberg consensus

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Speaker 5: calls for comp sales to fall three point three one percent,

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Speaker 5: of the decline in the US three point six seven percent. Still,

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Speaker 5: net sales expected to be thirty seven point seven billion dollars,

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Speaker 5: So just at earnings per share of three dollars seventy

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Speaker 5: six cents. Tom busby Bloomberg Radio, All right, Tom, thanks

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Speaker 5: back to commodities.

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Speaker 1: The International Energy Agency says global oil markets won't be

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Speaker 1: as tight as expected this quarter. IEA says sea supply

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Speaker 1: tipping back into a surplus in the first half of

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Speaker 1: twenty twenty four. Sorry, Nathan.

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Speaker 8: Thanks.

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Speaker 2: It's time now for a look at some of the

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Speaker 2: o their stories making news around the world, and for

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Speaker 2: that we're joined again by Bloombery sa Amy Morris Samy,

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Speaker 2: Good morning, Good.

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Speaker 6: Morning, Karen. There is growing concern about a possible government

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Speaker 6: shutdown later this week, but that could also spell chaos

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Speaker 6: for millions of Americans planning to travel during the holiday season.

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Speaker 6: Without a deal in Congress by this Friday night, air

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Speaker 6: traffic controllers and TSA workers could be forced to work

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Speaker 6: without pay. And this is expected to be a record

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Speaker 6: travel season. David Cymour, as chief operating officer with American Airlines,

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Speaker 6: We're going to.

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Speaker 1: Carry more customer than we ever have before, about a

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Speaker 1: half a million more than last year.

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Speaker 6: And House Speaker Mike Johnson has submitted a stopgap measure,

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Speaker 6: but that doesn't include any money for Israel. Or Ukraine,

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Speaker 6: and it doesn't have spending cuts that a lot of

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Speaker 6: Republicans want. The US Supreme Court has adopted a new

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Speaker 6: code of conduct, the first in the Court's history. Loyola

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Speaker 6: Law School professor and former federal prosecutor Laurie Levinson says

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Speaker 6: the adoption of the code itself is significant.

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Speaker 12: There has been a great deal a criticism of the

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Speaker 12: Supreme Court. Much of it has been focused on Justice

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Speaker 12: Thomas and Justice Alito because they received gifts, they haven't

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Speaker 12: made full disclosure of travel and other types of benefits,

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Speaker 12: and so now we have a clear standard.

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Speaker 6: But critics call the code itself toothless because it doesn't

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Speaker 6: include a mechanism for enforcement. A former attorney for Donald

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Speaker 6: Trump has testified against the former president and the Georgia

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Speaker 6: election interference case. Jenna Ellis recounted a conversation with Dan Scavino,

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Speaker 6: who served as Trump's deputy chief of staff. Video recording

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Speaker 6: of that testimony was obtained by The Washington Post.

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Speaker 13: He said, well, the Boss, meaning President Trump, and everyone

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Speaker 13: understood the Boss, That's what we all called him. He said,

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Speaker 13: the Boss is not going to leave under any circumstances.

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Speaker 13: We are just going to stay in power.

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Speaker 6: Trump's lead counsel in the Fulton County case says Ellis's

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Speaker 6: testimony is absolutely meaningless. Ellis is one of four co

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Speaker 6: defendants to plead guilty in that case out of eighteen people,

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Speaker 6: and died it Alongside Donald Trump, the president of the

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Speaker 6: United Auto Workers Union is headlining a hearing on Capitol

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Speaker 6: Hill to talk about the resurgence of unions. UAW president

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Speaker 6: Sean Faine, along with Teamster's president Sean O'Brien and Flight

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Speaker 6: Attendance Union president Sarah Nelson, will provide testimony before the

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Speaker 6: Senate Labor Committee on the role of unions in the

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Speaker 6: lives of working families. Global news twenty four hours a

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Speaker 6: day and whenever you want it with Bloomberg News Now,

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Speaker 6: I may Mee Morris in this is Bloomberg Karen.

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Speaker 2: Sor right, Amy, thank you, Alby do bring you news

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Speaker 2: throughout the day right here on Bloomberg Radio. But as

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Speaker 2: Amy said, you can get the latest news now on

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Speaker 2: demand when you wanted. Subscribe to Bloomberg News Now to

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Speaker 2: get the latest headlines it the click of a button.

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Speaker 2: Get informed on your schedule. You can listen and subscribe

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Speaker 2: to Bloomberg News Now on the Bloomberg Business app, Bloomberg

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Speaker 2: dot Com plus apples, Spotify, and anywhere else you get

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Speaker 2: your podcasts. Time now for the Bloomberg Sports Update with

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Speaker 2: John stash Hour John Karen.

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Speaker 14: On Sunday, four NFL games were one on a field

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Speaker 14: goal on the final flight, and happened again last night

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Speaker 14: in Buffalo. Denver's Will loves kick the thirty six yard

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Speaker 14: field goal the Broncos upset the Bills twenty four to

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Speaker 14: twenty two. Lutz had missed a forty one yarder, but

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Speaker 14: the Bills got called for twelve men on the field

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Speaker 14: and he got a second chance to win the game

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Speaker 14: for Denver, who has suddenly won three games in a

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Speaker 14: row after starting the season one and five. It's been

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Speaker 14: a disappointing year for the Bills, four time defending AFC

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Speaker 14: East champions, and they are right now just five and five.

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Speaker 14: The Celtics are eight and two. They're five and zero

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Speaker 14: at home. They beat the Knicks thirteen to ninety eight.

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Speaker 14: Jason Tatum led the way with thirty five points. Jalen

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Speaker 14: Brown had twenty two. Christophs Pazinga scored twenty one. The

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Speaker 14: Wizards are just two and eight. Kyle Kuzma keeps scoring points.

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Speaker 14: He had thirty four, but Prosco Siaka went for thirty

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Speaker 14: nine in Toronto and the Raptors won one to eleven

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Speaker 14: to one oh seven unanimous winners for the Baseball Rookies

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Speaker 14: of the Year, the first of the postseason awards to

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Speaker 14: go out as expected. Arizona outfielder Corbin Carroll got every

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Speaker 14: vote in the National League after season where he hit

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Speaker 14: twenty five home runs and sole fifty four bases, and

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Speaker 14: Baltimore short stoff Gunner Henderson won unanimously in the American League.

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Speaker 14: He hit twenty eight home.

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Speaker 1: Runs and scored one hundred runs.

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Speaker 14: Michael Malong got his contract extension in Denver. He coached

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Speaker 14: the Nuggets to the NBA championship last year. Terms not known.

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Speaker 14: He's been the Nuggets coach in twenty fifteen. John Stashedward Bloomberg.

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Speaker 15: Sports from coast to coast, from New York to San Francisco,

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Speaker 15: Boston to Washington, DC, nationwide on Sirius, Exam, the Bloomberg

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Speaker 15: Business app, and Bloomberg dot Com. This is Bloomberg Daybreak.

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Speaker 15: Good morning, I'm Nathan Hager.

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Speaker 1: Israel's war with Humas now appears to be centering on

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Speaker 1: hospitals in Gaza, where the Palestinian militant group is accused

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Speaker 1: of housing command centers and weapons. President Biden is saying

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Speaker 1: the main hospital in Gaza City, Alshifa, must be protected

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Speaker 1: as Israel intensifies its ground campaign. For the latest, we're

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Speaker 1: joined now by Bloomberg's Oliver crook Oli. Good morning, get

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Speaker 1: us up to speed on the situation in a northern Gaza,

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Speaker 1: particularly around these hospitals that do now appear to be

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Speaker 1: the center of attention.

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Speaker 16: Yeah, so Nathan completely in the center of attention, and

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Speaker 16: the ground offensive is still just raise it raging on

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Speaker 16: in the northern part of Gaza, really cementing their positions

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Speaker 16: around Gaza City and entering Gaza City. As we've seen,

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Speaker 16: we've also heard that a great number of people have

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Speaker 16: fled over the last ten days. The UN says that

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Speaker 16: more than two hundred thousand people have moved south. That

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Speaker 16: brings the total of almost two thirds of Gaza's a

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Speaker 16: population of two point three million people that have fled

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Speaker 16: their homes. The Defense Minister of Israel says that Hamas

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Speaker 16: has lost control of Gaza at this stage. But really,

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Speaker 16: as you say, the focus is on these hospitals and

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Speaker 16: really beginning to test the limits of where the limit

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Speaker 16: of self defense is, which has been really a question,

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Speaker 16: I think for everybody since the beginning of this conflict,

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Speaker 16: and everyone has a different answer to that. But we're

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Speaker 16: starting to see that progress a little bit, particularly with

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Speaker 16: the United States, which as we know, is a key

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Speaker 16: ally for Israel in this battle.

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Speaker 1: No, we did speak to Israel's economy minister Near Barkat

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Speaker 1: on Bloomberg Radio and he seemed to echo a lot

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Speaker 1: of the determination we're hearing from the Israeli government to

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Speaker 1: destroy Hamas. It does make you wonder what those limits are.

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Speaker 7: Lallie.

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Speaker 16: I think it's a good question, and it's going to

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Speaker 16: be in determined I suspect in part by what the

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Speaker 16: United States says and how they say it. Right, So

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Speaker 16: we're talking about a death toll. This is according to

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Speaker 16: the Palestinian authorities, of more than eleven thousand people in Gaza, right,

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Speaker 16: and two thirds allegedly are going our women and children.

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Speaker 16: This is an absolutely huge figure of people and many

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Speaker 16: of the allies of Israel. You know, you heard it

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Speaker 16: from President mac Hole on Friday, who himself called for

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Speaker 16: a ceasefire. And now You're starting to hear Joe Biden

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Speaker 16: talk about restraint, Blincoln himself saying that too many Palestinians

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Speaker 16: have been killed, Sullivan saying no firefights and hospitals, And

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Speaker 16: we know that it is that sort of the US's

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Speaker 16: behes that we got some of these humanitarian pauses. So

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Speaker 16: really the question is where does it reach its limit? Again,

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Speaker 16: So a lot of this stuff is going to be

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Speaker 16: behind the closed doors, the discussions with Biden and Netanya

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Speaker 16: who not taken out into the public, but you're starting

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Speaker 16: to notice it in a lot of the public statements

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Speaker 16: we're hearing from US officials.

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Speaker 1: And as this fighting goes on and it compares to intensify,

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Speaker 1: the question goes on as to how much longer this

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Speaker 1: war can continue, how much more intense we could see

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Speaker 1: that fighting take place, particularly around these population centers that

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Speaker 1: do have very sensitive operations in Gaza City completely.

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Speaker 16: And then there's the after question as well. But let's

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Speaker 16: deal with the for how long question, which is you know, again,

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Speaker 16: what Netanya who has said, and he said this as

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Speaker 16: recently as a day or two ago, was that it

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Speaker 16: will take not many years, right, So he's not ruling

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Speaker 16: out the year's quantity of time. In this he says

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Speaker 16: it'll take less time than the US took in defeating

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Speaker 16: ISIS and al Qaeda, which again does not really narrow

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Speaker 16: a very sort of slow and small window of period

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Speaker 16: of time. But he's, you know, from the very beginning,

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Speaker 16: giving himself a lot of flexibility in terms of how

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Speaker 16: long this can go. And now the real question this

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Speaker 16: we see another split potentially between the US and Israel,

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Speaker 16: is what happens afterwards netnya who's suggesting that they will

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Speaker 16: have indefinite control over Gaza. The security operations said, they

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Speaker 16: say they don't want to rule it, but they also

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Speaker 16: say they don't want to relinquish security control over Gaza.

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Speaker 16: So again, these are all the sorts of points that

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Speaker 16: are going to see develop And of course the big

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Speaker 16: question is what is the future of Netanya? Who and

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Speaker 16: whose decision will it be once there is peace about

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Speaker 16: what happens with the relationship between Gaza and Palestine and Israel.

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Speaker 1: And before we get even to all those questions about

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Speaker 1: the future of Gaza and the future of the Israeli government,

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Speaker 1: there's still this ongoing discussion about freeing hostages in Guza.

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Speaker 1: What's the update.

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Speaker 16: There completely So the latest that we've heard from this

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Speaker 16: is that Biden spoke to the Katari emir As we know,

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Speaker 16: Qatar has played an absolutely fundamental role in the sort

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Speaker 16: of got between Israel and of and the United States

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Speaker 16: and Hamas. We hear again and again that there is

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Speaker 16: potential progress on a deal, but every time we hear that,

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Speaker 16: it's sort of backslides. So again, there has been more

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Speaker 16: and more talked about it over the last few days,

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Speaker 16: but I think you really cannot really rely on anything

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Speaker 16: until it's fully secured. What we do know is that

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Speaker 16: Israel has entirely ruled out a ceasefire until all the

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Speaker 16: hostages have been freed.

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Speaker 1: And in our last thirty seconds, the discussion we've had

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Speaker 1: with Israel's economy minister, it seems like there's a determination

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Speaker 1: as well to keep this fight going, even if it

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Speaker 1: damages Israel's budget, even if it damages the economy.

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Speaker 16: Yeah, I mean, the impact on the Israeli economy has

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Speaker 16: been very sort of covid like in many respects where

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Speaker 16: you know, obviously there's a war effort underway, but we've

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Speaker 16: subtracted let's say, three hundred and fifty thousand people from

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Speaker 16: the workforce that's about eight percent of the Israeli Workfor

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Speaker 16: us is when you go down the streets, you know,

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Speaker 16: many of the businesses are closed, all the universities are

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Speaker 16: on pause. All of this stuff is really a standstill.

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Speaker 16: But again, they see this as an existential fight, so

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Speaker 16: they're gonna be willing to pay the price.

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