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

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Speaker 1: in Kleggi. President Trump met with oil executives at the

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Speaker 1: White House Friday, as he ramps up pressure to make

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Speaker 1: major investments in Venezuela. Bloomberg's Kate Sullivan has more from Washington.

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Speaker 2: When we're talking about Venezuela, the President really wanted to

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Speaker 2: make the argument that part of his overall strategy here

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Speaker 2: is about lowering energy costs for Americans. You know, in

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Speaker 2: a midterm election year, affordability is a very key issue

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Speaker 2: for both sides of the isle right now. But the

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Speaker 2: White House and the President are really trying to focus

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Speaker 2: on those energy prices as they're making this overall pitch

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Speaker 2: about Venezuela to the American people.

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Speaker 1: Bloomberg's Kate's Sullivan on Bloomberg's Balance of Power. President Trump

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Speaker 1: has teased another oil meeting soon with even more industry leaders.

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Speaker 1: About thirty million barrels of Venezuelan oil is reportedly on

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Speaker 1: its way to the US, worth about four billion dollars.

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Speaker 1: US Energy Secretary Chris Wright was part of President Trump's

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Speaker 1: meeting at the White House Friday. Wright didn't give details

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Speaker 1: on any potential deals, but says, Chevron's already on the

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Speaker 1: ground there.

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Speaker 3: They're going to ramp up investments, I mean immediately in

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Speaker 3: the next few weeks. So yeah, can we achieve one

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Speaker 3: hundred billion dollars investment over the next ten years, I

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Speaker 3: think absolutely. But we're one week in right now. So

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Speaker 3: with President Trump's leadership, I think we've had a tremendous

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Speaker 3: week of progress transformation in Venezuela and excited to see

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Speaker 3: what comes in the weeks and months ahead.

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Speaker 1: Right also addressed security guarantees for these oil companies. He

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Speaker 1: says it's still too early to tell what security will

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Speaker 1: look like, but insists US troops are not part of

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Speaker 1: the plan.

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Speaker 3: President Trump, of course never rules out options, but that

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Speaker 3: is definitely not in the plans.

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Speaker 1: That is not the plan.

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Speaker 3: The plan is to use the military power that's manning

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Speaker 3: the blockade of the oil so we can stop the

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Speaker 3: criminals and stop our adversaries from taking oil out of

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Speaker 3: Venezuela and have a more orderly safe process from what's

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Speaker 3: going on.

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Speaker 1: Entergy Secretary Chris Wright on Bloomberg's balance of power. A

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Speaker 1: federal judge ruled Friday that President Trump's administration cannot block

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Speaker 1: federal money for childcare subsidies and other programs aimed at

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Speaker 1: supporting need each children and their families from flowing to

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Speaker 1: five Democratic led states for now. The states of California, Colorado, Illinois, Minnesota,

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Speaker 1: and New York argued that a policy announced Tuesday to

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Speaker 1: freeze funds for three grant programs is having an immediate

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Speaker 1: impact on them and creating operational chaos in court filings.

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Speaker 1: At a hearing earlier Friday, the states contended that the

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Speaker 1: government did not have a legal reason for holding back

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Speaker 1: the money from them. President Trump is calling for a

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Speaker 1: one year cap on credit card interest rates at ten percent,

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Speaker 1: effective January twentieth. He wrote on social media, Please be

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Speaker 1: informed that we will no longer let the American public

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Speaker 1: be ripped off by credit card companies that are charging

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Speaker 1: interest rates of twenty to thirty percent and even more,

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Speaker 1: which festered unimpeded during the sleepy Joe Biden administration, and

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Speaker 1: then an all caps he put affordability. It's not clear

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Speaker 1: whether credit card companies will respond to his co all

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Speaker 1: or what actions he might take to force any change.

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Speaker 1: It was a winning week for the US stock market,

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Speaker 1: with new highs for the S and P five hundred Index,

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Speaker 1: the Dow Jones Industrial Average, and the Russell two thousand index.

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Speaker 1: We get more on this from Bloomberg's Charlie Pellett.

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Speaker 4: Stocks wrapped up the first full trading week of the

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Speaker 4: new year with a one point six percent advance for

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Speaker 4: the S and P five hundred index. It is the

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Speaker 4: third weekly gain in four weeks. Small cap shares also advanced,

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Speaker 4: with the Russell two thousand index climbing to a record

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Speaker 4: as the rally broadened beyond just big tech names. The

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Speaker 4: jobs report reinforced Wall Street's bets that the Fed will

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Speaker 4: leave rates on hold for the near term. For the week,

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Speaker 4: the Dow was up two point three percent, while it

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Speaker 4: has that Composite index was up one point nine percent.

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Speaker 4: In New York, Charlie Pellett, Bloomberg Radio.

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Speaker 1: And a press gaggle outside the White House, FHFA director

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Speaker 1: Bill Pulti spoke with reporters about President Trump's mortgage bond

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Speaker 1: plan and Fanny May Freddie Mack.

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Speaker 5: I think that Fanny and Freddy have way more liquidity

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Speaker 5: then we know what to do with, and so we

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Speaker 5: believe in the mortgage market. We believe that the mortgage

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Speaker 5: market is very sound. The mortgages that were undwriting are

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Speaker 5: not like they were in two thousand and eight, and

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Speaker 5: so we feel very confident in our liquidity position, and

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Speaker 5: the companies are earning more money than ever.

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Speaker 1: Bill Palti. Minneapolis Mayor Jacob Frye assailed the decision to

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Speaker 1: exclude Minnesota state authorities and the investigation of the killing

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Speaker 1: of a woman by an agent of ice, which he

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Speaker 1: said has no business surging into his city in the

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Speaker 1: first place.

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Speaker 6: What did they say when they came in here the

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Speaker 6: reason that they've stated driving down crime, They are clearly

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Speaker 6: driving crime up. Our city is safe, our city is welcoming.

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Speaker 6: They are making it less so bad for business, bad

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Speaker 6: for safety, bad for democracy, and bad for this republic.

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Speaker 6: We want them out.

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Speaker 1: Minneapolis Mayor Jacob fry dovetailing with this. Hennepin County Attorney

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Speaker 1: Mary Moriarity on Friday called on members of the public

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Speaker 1: to send any video or other evidence in the fatal

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Speaker 1: shooting of Renee Good in Minneapolis directly to her office.

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Speaker 1: President Trump post a chart on social media Thursday evening

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Speaker 1: that included figures and the yet to be released December

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Speaker 1: employment report. The chart, which showed the private sector added

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Speaker 1: six hundred and fifty four thousand jobs since January matched

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Speaker 1: figures that were not publicly published until eight thirty am

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Speaker 1: in Washington on Friday. It was posted on truth Social

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Speaker 1: about twelve hours before the data was said to be released.

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Speaker 1: The US jobs data, published by the Bureau of Labor Statistics,

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Speaker 1: are among the most closely guarded economic statistics and can

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Speaker 1: move markets by trillions of dollars. The Friday numbers on

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Speaker 1: Wall Street the Dow gain two thirty seven, NaSTA c

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Speaker 1: up one ninety one, the S and P gained forty four,

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Speaker 1: The ten year treasury yield four point one six percent,

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Speaker 1: the two year at three point five three percent. That's

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Speaker 1: news when you want it with Bloomberg News Now I

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Speaker 1: made KLEGGI. This is Bloomberg