1 00:00:00,520 --> 00:00:03,480 Speaker 1: News when you want it With Bloomberg News Now, I'm 2 00:00:03,600 --> 00:00:07,840 Speaker 1: Charlie Pellett. A major move for bitcoin, crossing the one 3 00:00:07,920 --> 00:00:12,039 Speaker 1: hundred thousand dollars threshold. President elect Donald Trump's pick of 4 00:00:12,080 --> 00:00:14,520 Speaker 1: a crypto proponent to be the next head of the 5 00:00:14,560 --> 00:00:18,759 Speaker 1: SEC lifted bitcoin to a record as traders warmed to 6 00:00:18,800 --> 00:00:23,680 Speaker 1: the prospect of relaxed regulations. Trump selected Paul Atkins to 7 00:00:23,720 --> 00:00:27,760 Speaker 1: replace outgoing SEC chair Gary Gensler, who cracked down on 8 00:00:27,880 --> 00:00:31,800 Speaker 1: digital assets after a twenty twenty two market route, exposed 9 00:00:31,840 --> 00:00:36,360 Speaker 1: fraudulent practices and spark costly blow ups. Bloomberg's Ben Bain 10 00:00:36,479 --> 00:00:39,280 Speaker 1: says Atkins is a known quantity in DC. 11 00:00:39,240 --> 00:00:41,560 Speaker 2: And there's going to be a high expectation that Paul 12 00:00:41,600 --> 00:00:45,159 Speaker 2: Atkins is going to lead an effort to deregulate and 13 00:00:45,280 --> 00:00:47,880 Speaker 2: roll back many of the things that Schagensler has tried 14 00:00:47,880 --> 00:00:48,520 Speaker 2: to put in place. 15 00:00:48,640 --> 00:00:53,560 Speaker 1: That's Bloomberg's Ben Bain. Elon Musk and Vivek Ramaswami will 16 00:00:53,560 --> 00:00:56,760 Speaker 1: be meeting with House Republicans to talk about their strategy 17 00:00:56,960 --> 00:01:01,480 Speaker 1: for slashing government. More from Washington and Bloomberg's Amy Morris. 18 00:01:01,680 --> 00:01:04,559 Speaker 3: House Speaker Mike Johnson announced last week he will host 19 00:01:04,600 --> 00:01:08,000 Speaker 3: the pair to quote revive the principle of limited government. 20 00:01:08,400 --> 00:01:12,240 Speaker 3: President elect Donald Trump picked Musk and Ramaswami to lead 21 00:01:12,280 --> 00:01:15,760 Speaker 3: the Department of Government Efficiency, or DOZE for short. They 22 00:01:15,800 --> 00:01:18,920 Speaker 3: are seen as outside government advisors to find places to 23 00:01:18,920 --> 00:01:22,119 Speaker 3: make drastic cuts in government. They do face some legal 24 00:01:22,120 --> 00:01:25,600 Speaker 3: and logistical hurdles, but a new congressional subcommittee chaired by 25 00:01:25,640 --> 00:01:29,920 Speaker 3: Georgia Republican Representative Marjorie Taylor Green could help as it 26 00:01:29,959 --> 00:01:33,120 Speaker 3: aims to eliminate government waste in Washington, Amy Moore as 27 00:01:33,120 --> 00:01:34,200 Speaker 3: Bloomberg Radio. 28 00:01:34,040 --> 00:01:37,360 Speaker 1: The Labor Department will be issuing data on initial jobless 29 00:01:37,400 --> 00:01:40,440 Speaker 1: claims in the build up to Friday's monthly jobs report, 30 00:01:40,720 --> 00:01:43,199 Speaker 1: and of that story, here's Bloomberg's Vinnie del. 31 00:01:43,160 --> 00:01:48,000 Speaker 4: Judites Econdomister forecasting US jobless claims help their historic lows 32 00:01:48,160 --> 00:01:52,560 Speaker 4: last week. The median forecast about two hundred and fifteen thousand. 33 00:01:52,680 --> 00:01:55,960 Speaker 4: Even so, the total number of American workers collecting unemployment 34 00:01:56,040 --> 00:01:58,960 Speaker 4: benefits is at a three year high, assign it's taking 35 00:01:59,040 --> 00:02:03,480 Speaker 4: longer for many to find work. Friday's monthly payroll report, meantime, 36 00:02:03,600 --> 00:02:06,400 Speaker 4: is expected to post a rebound a November gain topping 37 00:02:06,480 --> 00:02:09,520 Speaker 4: two hundred thousand Vinnie Donald, Jude Ice Blomberg Radio. 38 00:02:09,639 --> 00:02:12,239 Speaker 1: FED Chair J. Powell says he is confident he will 39 00:02:12,280 --> 00:02:16,760 Speaker 1: have a similar relationship with the incoming administration, including Treasury 40 00:02:16,800 --> 00:02:20,400 Speaker 1: nominee Scott Bessend, as he has now and Speaking at 41 00:02:20,400 --> 00:02:22,880 Speaker 1: the New York Times deal Book Summit in New York, 42 00:02:23,200 --> 00:02:26,160 Speaker 1: Powell talked about the relationship between the Chair of the 43 00:02:26,200 --> 00:02:28,119 Speaker 1: FED and the Treasury Department. 44 00:02:28,280 --> 00:02:31,160 Speaker 5: The Churchy Secretary and the FED Chair have had breakfast 45 00:02:31,200 --> 00:02:34,520 Speaker 5: or lunch together every week for seventy five years, and 46 00:02:35,480 --> 00:02:39,800 Speaker 5: more than that, the institutions have to you know, there's 47 00:02:39,800 --> 00:02:42,560 Speaker 5: got to be trust and mutual respect and acknowledgment of 48 00:02:42,600 --> 00:02:45,800 Speaker 5: the different authorities and boundaries that we have. But a 49 00:02:45,960 --> 00:02:49,000 Speaker 5: very constructive relationship because you know, in times of crisis 50 00:02:49,040 --> 00:02:52,600 Speaker 5: we work much more together under the law. Nonetheless, it's 51 00:02:52,639 --> 00:02:53,799 Speaker 5: a very important relationship. 52 00:02:53,800 --> 00:02:56,440 Speaker 1: FED Chair J. Powell at the New York Times deal 53 00:02:56,520 --> 00:03:01,200 Speaker 1: Book Summit. Another day of records. The fifties record close 54 00:03:01,320 --> 00:03:03,760 Speaker 1: for the S and P five hundred index, new highs 55 00:03:03,760 --> 00:03:07,280 Speaker 1: as well for both the NESDAK Composite Index and the 56 00:03:07,320 --> 00:03:10,359 Speaker 1: Dow Jones Industrial Average. One of the big questions, though, 57 00:03:10,400 --> 00:03:14,240 Speaker 1: for US investors, is the potential impact of tariffs. Kara 58 00:03:14,320 --> 00:03:18,519 Speaker 1: Murphy is chief investment Officer at Castra Investment Management. 59 00:03:18,600 --> 00:03:20,360 Speaker 2: We're seeing a lot of noise start to come in 60 00:03:20,400 --> 00:03:23,480 Speaker 2: with this holiday spending, as people start to shift spending, 61 00:03:23,600 --> 00:03:26,120 Speaker 2: you know, as we get more towards the holidays, away 62 00:03:26,120 --> 00:03:29,400 Speaker 2: from services into particular goods. I think there's also a 63 00:03:29,440 --> 00:03:32,760 Speaker 2: little bit of pull forward effect with people anticipating tariffs, 64 00:03:32,760 --> 00:03:35,400 Speaker 2: so big ticket items they might be putting in today 65 00:03:35,400 --> 00:03:37,360 Speaker 2: in order to avoid that potential tariff. 66 00:03:37,440 --> 00:03:41,280 Speaker 1: Kara Murphy of Castra Investment Management. The S and P 67 00:03:41,400 --> 00:03:44,280 Speaker 1: five hundred index up thirty six points, up six tenths 68 00:03:44,320 --> 00:03:47,440 Speaker 1: of one percent, now at six thousand eighty six, the 69 00:03:47,520 --> 00:03:50,200 Speaker 1: Dow up threeh eight, up seven tents of warm percent, 70 00:03:50,560 --> 00:03:53,400 Speaker 1: Nestack up two hundred and fifty four, a gain of 71 00:03:53,480 --> 00:03:57,400 Speaker 1: one point three percent, and again a record for bitcoin, 72 00:03:57,560 --> 00:04:01,800 Speaker 1: crossing one hundred thousand dollars. The Walt Disney Company is 73 00:04:01,920 --> 00:04:05,280 Speaker 1: raising its annual dividend by thirty three percent to one 74 00:04:05,320 --> 00:04:08,800 Speaker 1: dollar a share, another sign that a turnaround plan put 75 00:04:08,840 --> 00:04:12,920 Speaker 1: in place two years ago is paying off. And JetBlue 76 00:04:12,960 --> 00:04:16,640 Speaker 1: is cutting more unprofitable routes from its network, including flights 77 00:04:16,680 --> 00:04:20,039 Speaker 1: between New York's John F Kennedy Airport and Miami, and 78 00:04:20,279 --> 00:04:24,240 Speaker 1: suspending some services to Europe as it works to refocus 79 00:04:24,279 --> 00:04:28,080 Speaker 1: operations on core markets. And that's news when you want it. 80 00:04:28,080 --> 00:04:31,480 Speaker 1: With Bloomberg News Now, I'm Charlie Talbot, and this is 81 00:04:31,560 --> 00:04:32,080 Speaker 1: Bloomberg