Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning. I'm Nathan Hager.
Speaker 1: And I'm Karen Moscow. Here are the stories we're following today.
Speaker 3: Karen, we begin with the latest on a possible government shutdown,
Speaker 3: with a midnight deadline now just hours away. A revised
Speaker 3: funding plan backed by President elect Donald Trump and Elon
Speaker 3: Musk has been rejected by the Republican Ledhouse. That's after
Speaker 3: Musk and Trump came out against a previous bipartisan stopgap measure.
Speaker 3: House Speaker Mike Johnson spoke after thirty eight members of
Speaker 3: his own party voted alongside nearly all Democrats to reject
Speaker 3: the latest proposal.
Speaker 4: Very disappointing to us that all but two Democrats voted
Speaker 4: against aid to farmers and ranchers, against disaster relief, against
Speaker 4: all these bipartisan measures that had already been negotiated and
Speaker 4: decided upon. Again, the only difference on this legislation was
Speaker 4: that we would push the dead ceiling to Anyuary of
Speaker 4: twenty twenty seven.
Speaker 3: Well that House Speaker Mike Johnson says Republicans will regroup
Speaker 3: and come up with another solution ahead of the vote.
Speaker 3: House Democratic Leader Hakim Jeffries called the plan laughable.
Speaker 5: One or two puppet masters weigh in, and the extreme
Speaker 5: maga Republicans decide to do the bidding of the wealthy,
Speaker 5: the well off, the well connected millionaires and billionaires, not
Speaker 5: working class people.
Speaker 3: House Democratic Leader Hakim Jeffrey says Republicans are driving the
Speaker 3: government to a shutdown.
Speaker 6: Well Nathan.
Speaker 1: President elect Trump weighed in on truth Social after the vote,
Speaker 1: saying there should be no government funding deal without removing
Speaker 1: the debt ceiling. As he put it, the pressure is
Speaker 1: on whoever is president. Vice President elect JD. Van says
Speaker 1: Democrats are just trying to make things harder for each
Speaker 1: second Trump administration.
Speaker 7: They would rather shut down the government and fight for
Speaker 7: global censorship boards.
Speaker 8: They've asked for a shutdown, and I think that's exactly
Speaker 8: what they're going to be.
Speaker 6: Vice President elect JD.
Speaker 1: Van says Democrats don't want to give Trump negotiating leverage.
Speaker 1: During his first year, A Democratic Congressman Jamie Raskin says
Speaker 1: his party mostly voted against the new plan after the
Speaker 1: original agreement blew up.
Speaker 7: I had one Republican colleague say, now it's President Musk
Speaker 7: and JD.
Speaker 6: Vance as vice president.
Speaker 8: But where does that leave Donald Trump?
Speaker 9: The president of.
Speaker 1: The lect Democrat Jamie Raskin, rejected the DAL that would
Speaker 1: have set March fourteenth as the new funding deadline.
Speaker 3: Well Karen, President, like Trump, is also taking the truth
Speaker 3: social to issue a new trade threat. He is warning
Speaker 3: the European Union that he'll hit the block with tariffs
Speaker 3: unless it increases purchases of American oil and gas.
Speaker 8: The US is the.
Speaker 3: World's biggest exporter of liquefied natural gas. More than half
Speaker 3: of American l and GX sports went to the EU
Speaker 3: last year in the wake of Russia's invasion of Ukraine.
Speaker 6: Well Nathan elsewhere overseas.
Speaker 1: A delegation of American diplomats has arrived in Syria this
Speaker 1: morning to meet with representatives of several Syrian factions. One
Speaker 1: of them is the rebel group HTS, which has designated
Speaker 1: a terrorist group and overthrow the country's longtime dictator, Bashar
Speaker 1: Ellis Well Karen.
Speaker 3: Secretary of State Anthony Blincoln says the US has received
Speaker 3: positive signs from HTS. He spoke to Bloomberg about plans
Speaker 3: for engaging with Syria.
Speaker 2: I think it's important to have direct communication.
Speaker 5: It's important to speak as clearly as possible to listen
Speaker 5: to make sure that we understand as best we can
Speaker 5: where they're going and where they want to go.
Speaker 3: Secretary of State Blinkin ads he's been in close contact
Speaker 3: with the incoming Trump administration. He says he wants to
Speaker 3: give them the best possible hand to play in geopolitical
Speaker 3: conflicts around the globe.
Speaker 1: Well, Nathan, we turned now to the markets, and trader's
Speaker 1: attention turns today to the last major data point of
Speaker 1: twenty twenty four, the Personal Consumption Expenditures Index for November.
Speaker 1: It comes after yesterday's figure showed faster than expected economic
Speaker 1: growth and robust consumer spending. Those numbers weaken the case
Speaker 1: for imminent rate cuts. After FED Chair J Powell sing
Speaker 1: on a hawkish pivot earlier this week, RBC chief economist
Speaker 1: Francis Donald says economic data are likely not the only
Speaker 1: factor influencing the FED strategy.
Speaker 10: This is really a federal reserve that, even though they
Speaker 10: say they're not incorporating the effect of Trump policies, or
Speaker 10: some of them are, but some of them are not,
Speaker 10: is absolutely internalizing what they expect to come next. It
Speaker 10: is in their psyche, in their biases. They are afraid
Speaker 10: of inflation and Powell, while trying to speak out of
Speaker 10: both sides of his mouth, really gave the impression that
Speaker 10: the Fed is focused on what those CPI PC numbers
Speaker 10: are going to look like, and therefore that's what the
Speaker 10: market will be focused on.
Speaker 1: RBC Chief economist Francis Donald says, while sectors like manufacturing
Speaker 1: and housing face real price pressures, the AI and productivity
Speaker 1: boom may help sustain growth into next year.
Speaker 3: Turning now to Bitcoin, the world's biggest crypto currency, hit
Speaker 3: a record high this week above one hundred eight thousand
Speaker 3: dollars on hopes of crypto friendly policies in a new
Speaker 3: Trump administration. The Fed's pivot, though, has sent the token
Speaker 3: down more than ten percent since then, and checking bitcoin
Speaker 3: prices right now, they're down another three percent, just below
Speaker 3: ninety five thousand dollars. But many are still bullish on Bitcoin,
Speaker 3: including ARC Investment Management CEO Kathy Would.
Speaker 11: If institutional investors are looking at this new asset class
Speaker 11: more seriously, and bitcoin is really the first of its
Speaker 11: kind in a new asset class and will be, we believe,
Speaker 11: the biggest opportunity of them all, they must consider an allocation.
Speaker 3: ARC CEO Kathy Wood tells Bloomberg she thinks bitcoin could
Speaker 3: top a million dollars by twenty thirty.
Speaker 1: Hey, Moe, Nathan, we have a fresh headline and the
Speaker 1: potential merger of Nissan and Honda. Bloomberg News has learned
Speaker 1: fox Con is putting its interest in pursuing Nissan on
Speaker 1: hold after the Taiwanese smartphone makers send a delegation to
Speaker 1: meet with Renault, which owns thirty six percent of Nissan.
Speaker 1: Sources tell as fox Con is waiting to see if
Speaker 1: Nissan and Honda make real progress on a deal before
Speaker 1: designing its next move.
Speaker 3: Another company News, Karen Alphabet CEO soon Dar Pishai, told
Speaker 3: employees this week that Google cut its manager, director and
Speaker 3: vice president roles by ten percent in a push for efficiency.
Speaker 3: That is, according to a report from Business Insider. Back
Speaker 3: in twenty twenty two, Pitchai said he wanted Google to
Speaker 3: be twenty percent more efficient. He eliminated twelve thousand rolls
Speaker 3: the following year.
Speaker 6: And finally, Nathan.
Speaker 1: Starbucks baristas are going on strike for five days starting today,
Speaker 1: and stores across Los Angeles, Chicago, and Seattle. The strike
Speaker 1: as a result of an impasse in bargaining sessions. The
Speaker 1: Starbucks workers United Union is seeking better pay, schedules and hours.
Speaker 1: The union expects the strike to spread to hundreds of
Speaker 1: stores by Christmas Eve. Starbucks says the union prematurely ended negotiations.
Speaker 1: Time now for a look at some of the other
Speaker 1: stories making news in New York and around the world,
Speaker 1: and for that we're joined by Bloomberg's John Tucker, John
Speaker 1: good Morning, and.
Speaker 12: Good morning, Karen Hillage CEO killer Luigi Mangioni is back
Speaker 12: in New York and could now face the federal death penalty,
Speaker 12: and Bloomberg's Lisa Matteo joining US Live this morning with
Speaker 12: the very latest.
Speaker 8: Lisa, good Morning, Good morning.
Speaker 13: John y Joni was charged with murder by federal prosecutors
Speaker 13: for killing of United Health Group executive Brian Thompson. Well Now,
Speaker 13: lawyer for the alleged killer, told a US judge in
Speaker 13: New York that one of those federal charges was quote
Speaker 13: death eligible.
Speaker 6: Karen Freeman.
Speaker 13: In a niphilo, she complained that the theories between separate
Speaker 13: cases followed by the Satan federal prosecutors seem different and
Speaker 13: that she's quote never seen anything like what is happening
Speaker 13: here in over three decades of practicing law. Now What's interesting, John,
Speaker 13: is that in New York State, while they haven't executed
Speaker 13: a convicted felon in more than sixty years.
Speaker 8: Bloombergs Lisa Matteo.
Speaker 12: Lisa thanks the Pentagon, a ship anti drone technology to
Speaker 12: an area of New Jersey located where signings some mysterious
Speaker 12: aircraft has set residence on edge and drone accusations that
Speaker 12: the federal government isn't taking the incident seriously. The Defense
Speaker 12: Department provided equipment capable both of detecting drones and also
Speaker 12: disabling them, whether it could put the freeze on some
Speaker 12: holiday travel plans At Bloomberg, Meteorologist Rob Carolyn gives the update.
Speaker 8: John Arnik.
Speaker 14: High pressure building out of the Dakodas this morning will
Speaker 14: continue to affect the central planes and eventually move through
Speaker 14: the mid Atlantic States, the Great Lakes, the Ohio River
Speaker 14: Valley in the Northeast with some of the coldest air
Speaker 14: we've seen so far this season, and looks like that
Speaker 14: area is going to remain in place right through Christmas
Speaker 14: Eve Day.
Speaker 8: Bloomberg Meteorlogist Rob Carolyn.
Speaker 12: Thousands of Amazon workers striking for better pay and working conditions.
Speaker 12: Hey WHOA The estimated numbers believed he will be around
Speaker 12: ten thousand strikers. That's out of approximately eight hundred thousand
Speaker 12: Amazon employees. The meantime, Amazon will pay one hundred and
Speaker 12: forty five thousand dollars in penalties. That's part of a
Speaker 12: settlement with the federal workplace regulators regarding allegedly unsafe conditions
Speaker 12: at several of its US warehouse and logistics facilities. Global
Speaker 12: News twenty four hours a day, whenever you want it
Speaker 12: with Bloomberg News Now. Hi, John Tucker, and this is
Speaker 12: Bloomberg Karen.
Speaker 1: All right, John Tucker, thank you time now for the
Speaker 1: Bloomberg Sports Update. Bronti you by Tri State Ody. Here's
Speaker 1: John Stanshower, John, good morning, Good.
Speaker 2: Morning, Karon.
Speaker 15: Carl Anthony Town spent nine years in Minnesota. He's the
Speaker 15: second leading scorer in Timberwolves history. He didn't leave as
Speaker 15: a free agent. He got traded to the next though.
Speaker 15: He got a big ovation in his return and then
Speaker 15: put on a show. Thirty two points twenty rebounds. Town
Speaker 15: shot ten of twelve, made all five of as three pointers.
Speaker 15: The Knicks outscored the t Wolves forty one to eighteen
Speaker 15: in the second quarter, went on to win going away
Speaker 15: one thirty three to one oh seven. Mchal Bridges added
Speaker 15: twenty nine points. Julius Randall, also playing his former team,
Speaker 15: scored twenty four. The Nets got thirty three from Cam
Speaker 15: Johnson and won one on one ninety four in Toronto,
Speaker 15: the Celtics outscored by thirteen in the fourth quarter. Upset
Speaker 15: at home by Chicago rare win for the Wizards, just
Speaker 15: their fourth of the season. They beat Charlotte and the
Speaker 15: Lakers win at Sacramento. Lebron James past Kareem Abdul Jabbar.
Speaker 15: Lebron has now played the most minutes in NBA history.
Speaker 15: Devils lost four too at Columbus. The Bruins lost in
Speaker 15: overtime at Edmonton. Quick sixteen began in the AFC West,
Speaker 15: where Kansas City has clinted the division. The Broncos and
Speaker 15: Chargers looking very much like they'll be AFC wild Cards.
Speaker 15: They met in La Denver, going for a fifth straight win,
Speaker 15: had an eleven point lead with three minutes left in
Speaker 15: the third quarter. The Chargers rallied two fourth quarter touchdown
Speaker 15: passes by Justin Herbert. LA won thirty four to twenty seven.
Speaker 15: Both teams now nine and six. Indiana and Notre Dame
Speaker 15: both win eleven and one. They played tonight an in
Speaker 15: state battle in South Bend to start the now twelve
Speaker 15: team eleven game college football.
Speaker 2: Playoff, with three more games tomorrow.
Speaker 15: The newest Yankee, Cody Bellinger, has already played in two
Speaker 15: large markets with the Dodgers and Cubs, was asked about
Speaker 15: now playing in New York.
Speaker 7: I have an opportunity here to play for one of
Speaker 7: the best franchises in all the sports.
Speaker 8: I knew there was interest, and you know, like.
Speaker 7: I said, I wanted to take advantage of the opportunity,
Speaker 7: and I'm just glad that it was all able to
Speaker 7: work out.
Speaker 15: Bellinger admitted his father very happy with the trade. Clay
Speaker 15: Bellinger was a Yankee for three seasons, won two championships.
Speaker 2: John Stanshewer Bloomberg Sports, Karen Navian.
Speaker 9: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 9: and around the world on Bloomberg dot Com and the
Speaker 9: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm
Speaker 9: Nathan Hager. Will the third time be the charm in Washington,
Speaker 9: d C.
Speaker 3: Well, the pressure is really on lawmakers now with less
Speaker 3: than twenty four hours till a.
Speaker 2: Government shut down deadline.
Speaker 3: The House has voted down the latest proposal that was
Speaker 3: backed by President like Donald Trump to keep the government
Speaker 3: open into March and to keep the debt ceiling from
Speaker 3: existing for another two years. Chip Roy of Texas is
Speaker 3: one of the thirty eight Republicans who voted no.
Speaker 2: Not going to go vote for another debt sealing increase without.
Speaker 8: Actual specifics on what the cups will be. That's another non.
Speaker 3: Starter for me, Republican Chip Roy of Texas. After the
Speaker 3: latest stopgap went down and defeat last night. From More
Speaker 3: this morning, we are joined by Terry Haynes, founder of
Speaker 3: Pangaea Policy.
Speaker 2: Is your countdown clock setup? Harry, what's the risk of
Speaker 2: a prolonged shutdown?
Speaker 1: Now?
Speaker 16: Good morning, Good morning data. Uh, you know these things
Speaker 16: never really last very long, you know it. The politics,
Speaker 16: the you know two things. One, you know that you've
Speaker 16: got a bunch of politicians here that are showing on
Speaker 16: this issue that they're not really very good at politics,
Speaker 16: which is sort of weird, but there it is. You know,
Speaker 16: good politicians talk to each other. Good politicians, you know,
Speaker 16: even from particularly from on the other side. You know,
Speaker 16: know what's going to happen and kind of what the
Speaker 16: room for maneuver is. None of that's happening here. Secondly,
Speaker 16: on Trump and Musk and Ramaswami and those folks, you know,
Speaker 16: turning it up to eleven like spinal tap, you know,
Speaker 16: at the very last minute shows a lot of things.
Speaker 16: But one of the things that shows markets is that
Speaker 16: Trump's much less likely to actually achieve the things that
Speaker 16: they think he's until recently that he was very likely
Speaker 16: to achieve. That's a very bad look for Trump, and
Speaker 16: I think what he needs to do is stand down,
Speaker 16: stand back from this and cool the temperature off. But
Speaker 16: you know, I think I think what the politicians will
Speaker 16: do over the weekend is figure out the minimum they
Speaker 16: need to do and actually do it and be done.
Speaker 2: Why have this debt ceiling fight?
Speaker 9: Now?
Speaker 2: What is Trump wanting out of this?
Speaker 16: You know, what he wants and what he's getting are
Speaker 16: really two different things. What he wants is he doesn't
Speaker 16: want the debt ceiling fight, which has to happen in
Speaker 16: the late winter early spring, excuse me, in the late
Speaker 16: winter early spring, to overshadow the tax the tax bill
Speaker 16: and revenue raising and the other things that he wants
Speaker 16: to do. But he's what he's showing is that he
Speaker 16: doesn't understand how dug in a lot of Republicans are
Speaker 16: not just the thirty eight or so that voted against
Speaker 16: voted against last night, but how much of an article
Speaker 16: of faith keeping the debt ceiling and keeping some sort
Speaker 16: of restraint on federal spending is and has been the
Speaker 16: Republicans for a lot of years. So what it shows
Speaker 16: is that he's out of touch with his own his
Speaker 16: own political base in Congress. That's that's a very bad
Speaker 16: look for him.
Speaker 3: Well, he was threatening to primary Republicans who voted against this,
Speaker 3: and as we heard Chip Roy there, he's one of
Speaker 3: the hardliners on Capitol Hill. How serious is that primary
Speaker 3: threat from President like Trump?
Speaker 16: Well, I think that's one of the things that my
Speaker 16: guess is that that's one of the things that kind
Speaker 16: of gets said in the heat of the moment, probably
Speaker 16: goes away after after all this is over, there's going
Speaker 16: to be a lot of patching up that's going to
Speaker 16: have to be done on the Trump side as well
Speaker 16: as from the Republican side. But you know, Trump thought
Speaker 16: he was just going to seam roll these guys into
Speaker 16: into voting for something that that they wouldn't vote for
Speaker 16: you know, he's got another thing coming. Frankly, this is
Speaker 16: so it's difficult to impossible to steamroll, you know, the
Speaker 16: coequal branch of government. And that's exactly what Congress is
Speaker 16: and more importantly, what they consider themselves to be. And
Speaker 16: and you know you can't your first your first goal
Speaker 16: here can't be to unman these folks, particularly when you
Speaker 16: need all of them just to accomplish anything that you
Speaker 16: want to accomplish. He can't accomplish without them. So therefore,
Speaker 16: therefore he's going to have to make it up to them,
Speaker 16: not the other way around.
Speaker 3: We have just thirty seconds left, Terry. But where's President
Speaker 3: Biden and all this? Does he need to speak up more?
Speaker 16: He well, I think it's passed the time in which anybody,
Speaker 16: even in Biden's own party is going to be able,
Speaker 16: is going to listen to him or much care that.
Speaker 16: They think they've been carrying water for him for way
Speaker 16: too long. They need to forge their own path forward,
Speaker 16: and they're trying to do that.
Speaker 1: This is Bloomberg Daybreak, your morning podcast on the stories
Speaker 1: making news from Wall Street to Washington and beyond.
Speaker 3: Look for us on your podcast feed by six am
Speaker 3: Eastern each morning on Apple, Spotify, or anywhere else you listen.
Speaker 1: You can also listen live each morning starting at five
Speaker 1: am Wall Street Time on Bloomberg eleven three to zero
Speaker 1: in New York, Bloomberg in ninety nine to one in Washington,
Speaker 1: Bloomberg ninety two nine in Boston, and nationwide on serious
Speaker 1: XM Channel one twenty one.
Speaker 3: Plus listen coast to coast on the Bloomberg Business app
Speaker 3: now with Apple CarPlay and Android auto interfaces.
Speaker 1: And don't forget to subscribe to Bloomberg News Now. It's
Speaker 1: the latest news whenever you want it in five minutes
Speaker 1: or less. Search Bloomberg News Now on your favorite podcast
Speaker 1: platform to stay informed all day long.
Speaker 6: I'm Karen Moscow.
Speaker 2: And I'm Nathan Hager.
Speaker 3: Join us again tomorrow morning for all the news you
Speaker 3: need to start your day right here on Bloomberg Daybreak