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

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Speaker 1: We begin in Washington, where President Trump this evening addressed

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Speaker 1: the nation using his speech to detail the accomplishments he

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Speaker 1: has made during his first year in office.

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Speaker 2: After eleven months, our border is secure, inflation has stopped,

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Speaker 2: wages are up, prices are down, our nation is strong,

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Speaker 2: America is respected, and our country is back stronger than

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Speaker 2: ever before.

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Speaker 1: Trump also took the time to address plans for next year.

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Speaker 2: Next year, you will also see the results of the

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Speaker 2: largest tax cuts in American history that were really accomplished

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Speaker 2: through our great, big, Beautiful Bill, perhaps the most sweeping

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Speaker 2: legislation ever passed in Congress. We wrapped twelve different bills

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Speaker 2: up into one beautiful bill.

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Speaker 1: Public polling shows most US adults are frustrated with Trump's

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Speaker 1: handling of the economy, as inflation picked up following his

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Speaker 1: use of tariffs, and hiring began to slow. On Capitol Hill,

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Speaker 1: House Republicans have passed a partisan package of health care policies.

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Speaker 1: They are designed to provide a conservative alternative to extending

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Speaker 1: the subsidies under the Affordable Care Act set to expire

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Speaker 1: on December thirty first. House Speaker Mike Johnson, spoke to

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Speaker 1: reporters after the vote. I'm glad the Republicans stood together tonight.

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Speaker 1: Big night for us.

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Speaker 3: We'll have another day on the legislative floor tomorrow and

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Speaker 3: then we will probably wind up the year.

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Speaker 1: That is, House Speaker Mike Johnson. The GOP bill now

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Speaker 1: heads to the Senate after the bell. Micron Technology, the

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Speaker 1: largest US maker of computer memory chips, reported a blowout

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Speaker 1: quarter and offered even stronger guidance. We got reaction from

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Speaker 1: Jake Silverman, semiconductor analyst at Bloomberg Intelligence.

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Speaker 3: If you look at the gross margin guidance as well,

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Speaker 3: which at midpoint was sixty eight percent, really just implies

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Speaker 3: such incredible pricing strength that they have right now, and

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Speaker 3: it really comes down to supply and demand. The most part,

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Speaker 3: there's just been a real supply limitation all of that

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Speaker 3: for the most part, driven well, for the most part,

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Speaker 3: driven by AI. Also there's been strong demand for PC's smartphones.

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Speaker 3: But the real story has been AI demand.

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Speaker 1: That is, Jake Silverman's semiconductor analyst at Bloomberg Intelligence. Shares

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Speaker 1: and Micron were up six percent in late US trading.

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Speaker 1: Open AI has reportedly held preliminary discussions with some investors

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Speaker 1: about raising tens of billions of dollars, perhaps as much

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Speaker 1: as one hundred billion dollars. The Information reports the funding

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Speaker 1: could give open AI evaluation of around seven hundred and

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Speaker 1: fifty billion dollars. Shares in Medline searched forty two percent

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Speaker 1: in their trading debut. The medical supplier raised six and

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Speaker 1: a quarter billion dollars in the year's biggest initial public offering.

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Speaker 1: Bloomberg's Bailey Lipsholt says the success of this IPO says

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Speaker 1: a lot when the overall market had a down day.

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Speaker 4: Also says a lot when you're an IPO that with

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Speaker 4: the green shoe being potentially exercise, you get close to

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Speaker 4: seven billion dollars, So the biggest USIPO since Rivian. I

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Speaker 4: would say, for all intents and purposes, this has been

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Speaker 4: a far better success in day one than I think

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Speaker 4: even the sponsors who backed this company would have expected.

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Speaker 1: You can hear more from Bailey Lipschultz on the Bloomberg

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Speaker 1: Balance of Power podcast tomorrow before the opening bell. Will

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Speaker 1: get the report on consumer prices here as a preview

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Speaker 1: from Bloomberg's Michael McKee.

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Speaker 5: The inflation report will encompass the past two months October

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Speaker 5: and November, so there won't be a month over month

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Speaker 5: change reported. We'll have only the annual rate. But that's

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Speaker 5: what largely matters to market considerations of what the Fed's

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Speaker 5: next move is. Is inflation rising, falling, or steady. Economists

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Speaker 5: say rising driven by Trump tariff taxes on goods, slowing

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Speaker 5: rents should hold down any acceleration in services. Any service

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Speaker 5: price jump would likely change the odds for FED easing ahead.

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Speaker 5: Michael McKee, Bloomberg Radio.

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Speaker 1: FCC chairman Brenton carrs squared off with Senate lawmakers over

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Speaker 1: his criticism of mainstream news outlets. This was Carr's first

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Speaker 1: appearance since making remarks in September that led ABC to

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Speaker 1: briefly suspend Jimmy Kimmel over his comments after the death

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Speaker 1: of Charlie Kirk. Here is the exchange between Carr and

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Speaker 1: Minnesota Democratic Senator Amy Klobuchar.

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Speaker 6: But after Jimmy Kimmel's monologue, you went on a podcast

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Speaker 6: and suggested that ABC should take Kimmel off the air,

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Speaker 6: saying we can.

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Speaker 2: Do this the easy way or.

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Speaker 6: The hard way. Those were your words. Do you think

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Speaker 6: it is appropriate to your position to threaten companies at

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Speaker 6: broadcast political satire.

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Speaker 4: I think any licensee that operates on the public airwaves

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Speaker 4: has a responsibility to comply with the public interestandro and

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Speaker 4: that's been the case for decades.

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Speaker 1: Carr also said he believed satire is protected speech under

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Speaker 1: the First Amendment, and that is news when you want

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Speaker 1: it with Bloomberg News. Now, I'm Doug prisoner and this

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Speaker 1: is Bloomberg.

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Speaker 4: Yeah,