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

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin this morning with the latest on the

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Speaker 3: Trump administration's pressure campaign against Venezuela. President Trump is warning

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Speaker 3: Venezuelan President Nicholas Maduro not to quote play tough as

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Speaker 3: the US steps up its blockade of oil tankers going

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Speaker 3: in and out of the country. The President says, US

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Speaker 3: policy in the Western Hemisphere is changing under his administration.

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Speaker 2: Well, you had a different kind of a president before me.

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Speaker 4: They didn't mind being ripped off, they didn't mind being rubbed,

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Speaker 4: they didn't mind drugs boring into our country.

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Speaker 5: They didn't mind the jails of Venezuela and Trent Deierragua

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Speaker 5: being emptied into the US where they take over Colorado

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Speaker 5: and other places.

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Speaker 6: I do mind.

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Speaker 3: President Trump spoke at a mar al Lago news conference

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Speaker 3: where he unveiled a new class of battleships dubbed Trump Class.

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Speaker 3: Bloomberg's Peter Fowler on the Venezuela blockade.

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Speaker 5: Trump is saying he's going to keep the oil. He's

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Speaker 5: also threatening President Maduro not to fight back if he

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Speaker 5: fights back, he will never be able to fight back again.

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Speaker 5: Trump has stopped short of saying that this is all

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Speaker 5: about regime change, but people in his cabinet have been

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Speaker 5: a lot more clear on that. Homeland Security Secretary Kirsty

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Speaker 5: Nomes said that this is about much more than just

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Speaker 5: seizing the oil. He has to be gone, he said.

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Speaker 3: And Bloomberg's Peter Fowl reports all this comes as the

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Speaker 3: Coastguard continues to pursue a sanctioned tanker days after boarding

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Speaker 3: a non sanctioned vessel over the weekend Well Nathan.

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Speaker 2: In those same Mara a Lago remarks, President Trump said

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Speaker 2: he believe people are very angry that pictures are being

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Speaker 2: released that connect them to notorious sex offender Jeffrey Epstein.

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Speaker 6: Days after the Justice.

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Speaker 2: Department released a new set of files tied to the

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Speaker 2: laid financier. The President said he hated to see former

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Speaker 2: President Bill Clinton, who appeared frequently in the release, being

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Speaker 2: tarnished by the asociation, describing this situation as terrible.

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Speaker 7: I hate to see photos come out of him.

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Speaker 4: But this is what the Democrats, mostly Democrats, and a

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Speaker 4: couple of bad Republicans are asking for.

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Speaker 6: So they give you their photos of me too. Everybody

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Speaker 6: was friendly with this guy.

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Speaker 2: The Epstein files and the fight over their disclosure have

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Speaker 2: sparked in fighting among President Trump's supporters, adding to the

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Speaker 2: political headwinds that the president is facing heading into next

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Speaker 2: year's midterm elections.

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Speaker 6: Then Stang of mar A Lago Karen.

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Speaker 3: President Trump is also reiterating his desire for US control

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Speaker 3: over Greenland. That's after he announced plans to appoint Louisiana

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Speaker 3: Governor Special Jeff Landry as a special envoy to the island.

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Speaker 6: President Trump says it's a matter of national security.

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Speaker 4: If you take a look at Greenland, you look up

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Speaker 4: and down the coast, you have Russian and Chinese ships

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Speaker 4: all over the place.

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Speaker 5: We needed for national security and we have to have it.

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Speaker 3: Greenland's a big deal, The President says. It's not because

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Speaker 3: of Greenland's energy or mineral reserves. He says the US

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Speaker 3: has plenty of those, but he doesn't think Denmark's voted

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Speaker 3: enough spending to protect the island. President Trump's comments have

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Speaker 3: sparked outrage in both Denmark and Greenland. Denmark's Prime Minister

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Speaker 3: met To Frederickson has worn the US cannot act annex

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Speaker 3: the island.

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Speaker 2: Well, Nathan Let's turn out to the latest Inny Brown

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Speaker 2: University shooting. The Trump administration will investigate the rampage this

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Speaker 2: month that killed two students and injured nine others. Education

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Speaker 2: Secretary Linda McMahon says reporting in the wake of the

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Speaker 2: incident shows that Brown surveillance and security systems may not

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Speaker 2: have met adequate standards, allowing the suspect to escape.

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Speaker 6: She also says.

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Speaker 2: Brown students and staff reported that emergency notifications about the

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Speaker 2: active shooter were delayed.

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Speaker 3: Certain markets now Karen stocks are holding ground after a

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Speaker 3: strong run. Traders are awaiting some of the last remaining

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Speaker 3: data sets of twenty twenty five to see whether they

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Speaker 3: materially shift expectations for interest rate cuts in the new year.

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Speaker 3: The SMP five hundred was poised to open little changed

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Speaker 3: after a three day rally that's pushed the benchmark within

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Speaker 3: reach of.

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Speaker 6: A new all time high.

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Speaker 3: Liz An Sanders is chief investment strategist at Charles Schwab.

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Speaker 7: I have to look below the surface of the cap

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Speaker 7: weighted indexes to get a fuller picture, particularly in the

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Speaker 7: last couple of months, where you haven't seen a big

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Speaker 7: draw down at the index level, even though We've seen

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Speaker 7: some of the megacap prior leaders go through a bit

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Speaker 7: of a pullback phase, but you've just seen broader participation

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Speaker 7: over the last six months or so. It's only in

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Speaker 7: the teens in terms of the percentage of constituents with

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Speaker 7: the within the SMP that's a performed the index itself.

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Speaker 6: It's Charles Schwabs liz Anne Saunders.

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Speaker 3: Meanwhile, gold has risen to a record high for the

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Speaker 3: fiftieth day this year on escalating geopolitical tensions and prospects

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Speaker 3: for more rate cuts.

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Speaker 6: Silver is also at an all time peak.

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Speaker 2: Nathan Fetter. Reserve Governor Stephen Myron said the US Central

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Speaker 2: Bank risks sparking a risk session unless it continues lowering

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Speaker 2: interest rates next year, and Myron spoke with the Bloomberg surveillance.

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Speaker 8: For the last few months, we've had data come out

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Speaker 8: in a ordinance with I think my view of the world.

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Speaker 8: The inflation data has steadily come in cooler than expectations.

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Speaker 8: The unemployment rate has poked up potentially above where people

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Speaker 8: thought it was going to go, and so we've had

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Speaker 8: data that should push people into a dubvish direction, and

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Speaker 8: I think it's somewhat problematic if you see those data

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Speaker 8: coming out and you don't adjust your policy prescriptions in

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Speaker 8: the Duvish direction, What does that say about the reactiveness

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Speaker 8: of policy to the economy. I think it looks it

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Speaker 8: reflects very poorly upon the institution at.

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Speaker 9: The end of that time.

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Speaker 2: And that's Stephen Myron, and he's argued for larger cut

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Speaker 2: since he joined the FEDS Board of Governors in September.

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Speaker 2: His termins in January. For the full conversation, head over

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Speaker 2: to the Bloomberg Podcast channel on YouTube.

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Speaker 3: Karen, we continue to track the latest in the Warner

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Speaker 3: Brothers Discovery bidding war, and the latest is Larry Ellison

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Speaker 3: has pledged forty billion dollars of his personal wealth to

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Speaker 3: boost Paramount Skydance's bid for the entertainment giant. The billionaire

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Speaker 3: built his fortune with Oracle. He's aiming to give his son,

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Speaker 3: Paramount CEO David Ellison, the advantage in the fiercely contested

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Speaker 3: battle with Netflix. Bloomberg Intelligence Senior credit analyst Stephen Flynn

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Speaker 3: says it's just one of a number of adjustments made

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Speaker 3: meant to strengthen Paramount's bid.

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Speaker 6: Yeah.

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Speaker 10: Well, so, mid last week, the Warner Brothers Discovery Board

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Speaker 10: recommended shareholders do not participate in the tenor offer, and

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Speaker 10: they listed the reasons why. Now, what Paramount This Morning

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Speaker 10: has done is kind of addressed many of those reasons,

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Speaker 10: particularly given the Larry Ellison guarantee. So I believe Paramount's

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Speaker 10: going to see how many shares they get to participate

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Speaker 10: in the tenor offer and if they need to, you know,

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Speaker 10: conversations with shareholders, if they need to raise it to

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Speaker 10: a certain level at those struggle, it's still comfortable with

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Speaker 10: I'd imagine.

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Speaker 8: That's what they would do.

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Speaker 3: It's Stephen Flynn of Bloomberg Intelligence. No Warner Brothers has

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Speaker 3: confirmed it has received Paramounts amended offer and says it

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Speaker 3: will evaluate it, but the company says it still supports

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Speaker 3: Netflix's competing bid well.

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Speaker 2: In company news, Nathan Novo Nordisk has won approval to

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Speaker 2: sell a pill version of its blockbuster obesity drug like Govi,

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Speaker 2: in the US. According to a statement, Novo will start

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Speaker 2: selling the pill in the US and January to patients

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Speaker 2: at a starting price of one hundred and forty nine

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Speaker 2: dollars a month in cash, or potentially for as little

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Speaker 2: as twenty five dollars per month with insurance coverage begin

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Speaker 2: more with Bloomberg's Amber Tongue.

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Speaker 11: While the injectibles have been hugely successful, there's been a

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Speaker 11: lot of talk that an oral pill would be provide

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Speaker 11: a much more convenient option for patients. There are people

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Speaker 11: who may be afraid of needles and they don't want

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Speaker 11: to get injections. They would prefer to take a pill

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Speaker 11: once a day instead to meet their weight management needs.

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Speaker 11: And a pill form of the obesity drug is also

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Speaker 11: much easier to transport and store because it doesn't require

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Speaker 11: refrigerators unlike the injectibles.

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Speaker 2: And Bloomberg's and Amber and a Tongue adds that it's

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Speaker 2: a crucial step in Novo's effort to defend its market

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Speaker 2: share from rival Eli Lilly, which says its own oral

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Speaker 2: obesity drug could be approved by March. Time now for

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Speaker 2: a look at some of the other stories making news

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Speaker 2: in New York and around the world, and for that

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Speaker 2: we're joined by Bloombers Michael Barr Michael, Good Morning.

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Speaker 12: Good morning, Karen. More than an estimated record one hundred

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Speaker 12: and twenty two million Americans planned to travel more than

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Speaker 12: fifty miles from home this year for the holidays. However,

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Speaker 12: there will be some rough travel spots across the nation

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Speaker 12: as we approach Christmas. Bloomberg Media Religions Craig Allen has

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Speaker 12: the latest today.

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Speaker 13: Here in the Northeast, we have a combination of snow

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Speaker 13: and rain, with winter weather advisories for two to as

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Speaker 13: much as six inches of snow and higher terrain areas

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Speaker 13: in the Poconos in Pennsylvania, Catskills of New York, New England. Thankfully,

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Speaker 13: the major I ninety five cities should be wet and

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Speaker 13: not snow covered. But the other big problem will be

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Speaker 13: the West coast. Almost the entire state of California is

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Speaker 13: under a floodwatch into the weak and big snows in

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Speaker 13: the mountain passes, and there will definitely be substantial road

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Speaker 13: and airport delays right through Christmas Day.

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Speaker 12: Bloomberg Media relogists crag Allen a federal judges rule the

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Speaker 12: US government cannot redetain kilmar Abrego Garcia through the Christmas holiday.

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Speaker 12: The Maryland man and Salvador native was released Monday. His attorney,

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Speaker 12: Simon Sandeval Motionenberg, said the federal government is trying to

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Speaker 12: keep his client locked up without a trial.

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Speaker 14: To me, at least, it's clear that the government is

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Speaker 14: willing to do whatever takes sort of give any legal justification,

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Speaker 14: any factual justification whatsoever, to put this man back into

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Speaker 14: a detention center.

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Speaker 12: Attorney Simon Sandeval Motionenberg says a new hearing is scheduled

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Speaker 12: for Friday. We're learning more about New York mayor elect

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Speaker 12: Zoron Mamdani swearing in on January first, and includes a

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Speaker 12: midnight ceremony when New York Attorney General Letitia James will

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Speaker 12: administer the oath of office. Later on New Year's Day,

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Speaker 12: Senator Bernie Sanders will give the oath again during a

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Speaker 12: public ceremony on the steps of City Hall. After that,

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Speaker 12: a citywide bloc party will be held along Broadway. Global

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Speaker 12: News twenty four hours a day and whenever you want

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Speaker 12: it with Bloomberg News Now. I'm Michael Barr, and this

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Speaker 12: is Bloomberg Karen.

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Speaker 2: Thanks Michael. Time now for our Bloomberg sports update, and

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Speaker 2: for that we bring in John Stashauer.

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Speaker 6: Thanks Karen.

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Speaker 13: Mother.

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Speaker 4: Night football was in Indianapolis. The forty nine ers scored

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Speaker 4: touchdowns on their first three possessions. They never punted, They

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Speaker 4: got five touchdown passes from Brock Purdy, and the Niners

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Speaker 4: beat the Colts. Forty eight to twenty seven. They've won

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Speaker 4: five in a row. The Colts have now lost their

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Speaker 4: last five. The NFL has suspended Pittsburgh Steeler wide receiver

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Speaker 4: DK Metcalf for two games. He had an altercation with

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Speaker 4: a fan in Detroit last Sunday. Metcalf is appealing. That's

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Speaker 4: your Bloomberg Sports Update.

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Speaker 2: Stay with us. More from Bloomberg day Break coming up

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Speaker 2: 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 Out. This is Bloomberg Daybreak.

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Speaker 6: Good morning on Nathan Hager.

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Speaker 3: A pressure campaign that began with military strikes on suspected

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Speaker 3: drug running boats in the Caribbean has now turned into

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Speaker 3: a blockade of oil vessels going in and out of Venezuela.

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Speaker 3: But President Trump says his effort to go after Venezuelan

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Speaker 3: President Nicholas Maduro won't end there.

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Speaker 4: And soon we'll be starting the same program on land.

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Speaker 6: The land is much easier.

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Speaker 4: But every one of those boats that we knocked out

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Speaker 4: saved twenty five thousand lives.

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Speaker 3: President Trump speaking there at a mar A Lago news

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Speaker 3: conference where he unveiled a new class of warship dubbed

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Speaker 3: Trump Class. For more, we're joined by Bloomberg DC Breaking

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Speaker 3: News editor Alexander Pearson. It was a wide ranging conversation,

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Speaker 3: alex with President Trump leveling tough words at Nicholas Maduro.

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Speaker 3: But did we get any further clarity on his strategy

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Speaker 3: with Venezuela?

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Speaker 6: Good morning, Good morning, Nathan.

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Speaker 9: Yeah, it was a very wide ranging speech, and particularly

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Speaker 9: on Venezuela, we got sort of actually some mixed signals

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Speaker 9: in a way, because it was a combatitive speech with

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Speaker 9: her god to Maduro, and that's the tone that President

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Speaker 9: Trump's had for many weeks and months now. But it

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Speaker 9: was interesting to note that he was asked whether he

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Speaker 9: would try to actually oust President Madua from Venezuela, and

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Speaker 9: he said that would be up to mister Maduro. And

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Speaker 9: that was a bit soft, it seemed, and what some

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Speaker 9: of his cabin officials had said even yesterday, Homeland Security

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Speaker 9: Secretary Christy Nome had said that President Maduro needs to

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Speaker 9: be gone, which very much, you know, suggested that would

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Speaker 9: be the end goal of this maximum pressure campaign that

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Speaker 9: the Trump administration has been pursuing towards Venezuela. But President

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Speaker 9: Trump himself, you know, did not want to commit to that,

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Speaker 9: at least explicitly, So that was interesting to note. But

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Speaker 9: in terms of everything else he said, you know, we

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Speaker 9: didn't learn that much new. He is he has been

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Speaker 9: threatening land strikes for some time now, and you know,

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Speaker 9: the overall tone towards Venezuela was still the same as

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Speaker 9: it has been for many weeks.

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Speaker 6: And if you want to call it a threat.

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Speaker 3: We've also heard the President sort of reiterating his desire

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Speaker 3: for US control of Greenland.

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Speaker 6: What did he have to say there.

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Speaker 9: Yeah, that's right. He reiterated this desire that the US

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Speaker 9: should take over Greenland, and he very much couched it

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Speaker 9: in terms of national security. He said that, you know,

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Speaker 9: without Greenland, the US is essentially quite exposed to threats

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Speaker 9: from Russia and China. And what's interesting to note is

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Speaker 9: actually this isn't really new. He has been saying more

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Speaker 9: or less the same thing throughout the year, but in

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Speaker 9: the last few weeks and months it hasn't actually come

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Speaker 9: up much in his speeches. So it seems to now

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Speaker 9: be you know, very much in his thinking again, and

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Speaker 9: it does come on the heels of him and announcing

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Speaker 9: a new special envoy to Greenland. Unfortunately, he did not

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Speaker 9: really provide any details as to, you know, what the

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Speaker 9: strategy there is in terms of taking over Greenland. In

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Speaker 9: his first time, he suggested, you know, purchasing it from

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Speaker 9: from Denmark. But you know, for the longest time, he's

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Speaker 9: never really laid out a game plan for how he

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Speaker 9: wants to achieve that in this term, and last night

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Speaker 9: he didn't provide any more details other than, you know,

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Speaker 9: he would really like to see Greenland become you know,

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Speaker 9: for the US to take over Greenland.

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Speaker 3: And in our last thirty seconds, Alex. The president continues

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Speaker 3: to face questions around the disclosures in the Jeffrey Epstein files.

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Speaker 6: What's he saying there?

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Speaker 9: Yeah, so we had the batch on Friday that was

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Speaker 9: released by the Department of Justice. It was only partial

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Speaker 9: and many prominent figures were seen in those files, including

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Speaker 9: former President Bill Clinton, and interestingly enough, President Trump yesterday

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Speaker 9: actually voiced some sympathy for President Clinton that his reputation

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Speaker 9: had been tarnished through the release and said, you know,

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Speaker 9: the overall affair was essentially quite a sad one. But

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Speaker 9: he did not speak to actually the major issues, which

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Speaker 9: is the fact that the Justice Apartment has not released

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Speaker 9: all the files that actually, by law, should have done

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Speaker 9: by Friday, So that was sort of the omission was

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Speaker 9: actually the most interesting thing about that speech.

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Speaker 6: And I'm Nathan Hager.

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