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Speaker 1: News when you want it with Bloomberg News Now, I'm mad.

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Speaker 1: Kaleniky Pete Hegsith will become the next Secretary of Defense

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Speaker 1: after a Senate majarity confirmed President Donald Trump's choice, despite

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Speaker 1: his lack of high level experience and allegations which he denied,

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Speaker 1: of alcohol abuse, sexual misconduct, and financial mismanagement of organizations

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Speaker 1: he previously led. The move by the Republican controlled Senate

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Speaker 1: was a testament to Trump's ability to maneuver his narrow

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Speaker 1: control of Congress, as lawmakers voted fifty one to fifty

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Speaker 1: to back Hegsith, a forty four year old former Fox

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Speaker 1: TV host, largely along party lines. Three Republicans, Mitch McConnell

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Speaker 1: of Kentucky, Lisa Murkowski of Alaska, and Susan Collins of Maine,

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Speaker 1: joined Democrats in opposing his confirmation. As Vice President. J. D.

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Speaker 1: Vance cast his first tie breaking.

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Speaker 2: Vote on this vote, the Ya's are fifty and the

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Speaker 2: nays are fifty, the Senate being equally divided, the Vice

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Speaker 2: President votes in the affirmative, and the nomination is confirmed.

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Speaker 1: A relentless rush ally and stocks took a breather near

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Speaker 1: all time highs, but the market still notched its best

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Speaker 1: start to a presidential term since Ronald Reagan was sworn

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Speaker 1: in in nineteen eighty five. While a rounded ship maker's

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Speaker 1: weighed on trading Friday, the S and P five hundred

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Speaker 1: climbed almost two percent this week. That was after President

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Speaker 1: Trump talked up policies to boost the economy and lower taxes,

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Speaker 1: while appearing to soften his stance toward tariffs on China,

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Speaker 1: even as he continued to threaten sweeping action. The dollar

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Speaker 1: saw its biggest weekly drop since November twenty twenty three.

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Speaker 1: The move index of expected treasury volatility hit the lowest

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Speaker 1: since about mid December. President Donald Trump was welcomed by

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Speaker 1: California Governor Gavin Newsom as he arrived in Los Angeles

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Speaker 1: to see first hand the devastation from massive ongoing wildfires

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Speaker 1: that have scorched entire neighborhoods and left billions in damage.

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Speaker 1: The two greeted each other with a handshake, and the

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Speaker 1: Democratic governor patted the President on the back. It was

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Speaker 1: a surprisingly cordial greeting, coming after days of unrelenting criticism

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Speaker 1: from Trump over Newsim's response to the wildfires. During a

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Speaker 1: short exchange with reporters after his arrival, Trump thanked News

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Speaker 1: him for coming and remarked about the damage, saying that

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Speaker 1: tremendous numbers of lives have been affected, a lot of

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Speaker 1: real estate has been affected. Trump then held a roundtable

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Speaker 1: discussion with members of Congress and local officials, including Los

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Speaker 1: Angeles Mayor Karen Bass. Trump said he would look at

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Speaker 1: new building material tariffs for the next three years, and

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Speaker 1: he will sign action to increase the California waterflow, and

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Speaker 1: he would look to wagh federal permits.

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Speaker 3: As we're going to wave just about essentially wave all

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Speaker 3: federal permits. We're going to have you go very quickly,

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Speaker 3: because a federal permit can take ten years. We're not

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Speaker 3: going to do that. We're not gonna we don't want

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Speaker 3: to take ten days.

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Speaker 1: Hamas named four Israeli women hostages it plans to release

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Speaker 1: Saturday in a second hostage for prisoner swap. As the

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Speaker 1: ceasefire and Gossa nears the end of its first week.

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Speaker 1: Prime Minister Benjamin Netanyahu's office at Friday that Israel received

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Speaker 1: the hostage list from mediators and will respond after a review.

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Speaker 1: A truce broker by Katar and Egypt calls for the

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Speaker 1: gradual release of thirty three Israeli hostages held in Gaza

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Speaker 1: in exchange for around one thousand Palestinians in Israeli prisons.

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Speaker 1: Women are to be released first, followed by the elderly

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Speaker 1: and sick. Us. Consumer sentiment declined in January, and inflation

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Speaker 1: and employment fears rose, according to the University of Michigan survey.

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Speaker 1: Joanne Sue, the survey's director, talked about in any Bloomberg interview.

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Speaker 4: Consumers are not sure about what's going to be going

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Speaker 4: on in the future, particularly with this administration change. Republicans

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Speaker 4: are feeling pretty optimistic about the future, Democrats less so.

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Speaker 4: And this is really coming down to a difference in

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Speaker 4: opinion about what Trump's anticipated policies are going to result

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Speaker 4: in for the economy.

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Speaker 3: Sue said.

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Speaker 1: Republicans think higher tariffs who will benefit the economy. Democrats

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Speaker 1: think tariffs will hurt. The Las Vegas Raiders have agreed

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Speaker 1: to hire Pete Carroll as their head coach. The team

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Speaker 1: and Carol agreed in principle on a three year deal

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Speaker 1: with a one year team option. The seventy three year

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Speaker 1: old Carol returns to the sidelines after leading Seattle to

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Speaker 1: two NFC championships and the franchise is only Super Bowl

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Speaker 1: title during a fourteen year stretch that ended following the

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Speaker 1: twenty twenty three season. He will be the league's oldest

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Speaker 1: head coach next season, surpassing sixty six year old Andy

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Speaker 1: Reid of the Kansas City Chiefs. Obsolete apps like flappy

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Speaker 1: Bird and Yo harken back to a time when Silicon

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Speaker 1: Valley wasn't so fraught. The case for keeping dead apps

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Speaker 1: around on your phone. You can read all about it

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Speaker 1: in Bloomberg's weekend edition, exploring the places where finance, life

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Speaker 1: and culture meet. Find it now on Bloomberg dot com

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Speaker 1: in the Bloomberg Business app. The Friday number is on

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Speaker 1: Wall Street. The Dow lost one point forty NASDAK dropped

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Speaker 1: ninety nine in the S ANDP fell seventeen. That's news

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Speaker 1: when you want it with Bloomberg News Now. I'm Ad Kleggi,

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Speaker 1: and this is Bloomberg