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Speaker 1: Karen, We begin with the latest in the investigation into

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Speaker 1: United Healthcare CEO Brian Thompson's murder in New York. The suspect,

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Speaker 1: Luigi Mangioni, remains behind bars in Pennsylvania, where he was

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Speaker 1: arrested with a homemade gun, ten thousand dollars in cash,

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Speaker 1: and a manifesto against the health industry. Here's New York

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Speaker 1: City Police Commissioner Jessica Tsh.

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Speaker 2: We got the gun in question back from Pennsylvania. It's

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Speaker 2: now at the NYPD crime lab. We were able to

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Speaker 2: match that gun to the three shell casings that we

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Speaker 2: found in Midtown at the scene of the homicide.

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Speaker 1: NYPD Commissioner Jessica Tish also says the crime lab matched

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Speaker 1: Mangioni's fingerprints to a water bottle and an energy bar

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Speaker 1: found near the scene. Mangioni is fighting extradition to New

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Speaker 1: York to face a murder charge. His lawyer, Thomas Dicky,

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Speaker 1: says his client has to be presumed innocent until proven guilty.

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Speaker 3: Meanwhile, Nathan, the NYPD is investigating a series of a

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Speaker 3: wanted posters that have cropped up in Manhattan. One of

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Speaker 3: them is Brian Thompson's photo with a red X, cross

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Speaker 3: Over It other show executives from Golden Sachs, Bank of America, JP, Morgan, Chase,

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Speaker 3: an American Express. Manhattan District Attorney Alvin Bragg says celebrating

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Speaker 3: a murder is abhorrent.

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Speaker 4: I've sit across the table from families who've had a

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Speaker 4: love one killed, and to think of people celebrating that,

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Speaker 4: it's so challenges You've wrapped.

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Speaker 5: My mind around that.

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Speaker 3: Manhattan DA Alvin Bragg, The NYPD says police, I've seen

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Speaker 3: a surgeon online threats against executives since Brian Thompson's murder.

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Speaker 1: And now let's turn to politics. Karen President like Donald Trump,

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Speaker 1: has reportedly invited Chinese president She Jen Ping to attend

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Speaker 1: his inauguration next month. We get the details from Bloomberg's

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Speaker 1: Doug Prisner.

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Speaker 6: CBS News says it's unclear whether she has accepted the invitation.

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Speaker 6: In last weekend's broadcast of NBC's Meet the Press, Trump

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Speaker 6: said he had communicated with she recently, but he declined

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Speaker 6: to say what they had discussed.

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Speaker 7: Now.

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Speaker 6: Trump campaigned on placing tariffs on all Chinese goods with

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Speaker 6: sixty percent duties, and last month he vowed to impose

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Speaker 6: an additional ten percent duty if Beijing doesn't help stem

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Speaker 6: the flow of fentanyl coming across the US southern border. Meantime,

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Speaker 6: China is preparing for a potential trade war by showcasing

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Speaker 6: a new range of tools. This includes restrictions on exports

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Speaker 6: of rare materials and a probe into Nvidia in New York.

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Speaker 6: I'm Doug Prisner, Bloomberg Radio.

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Speaker 3: All right, Doug, thank you.

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Speaker 8: Well.

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Speaker 3: One person who will not be at Trump's inauguration FBI

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Speaker 3: Director at Christopher Ray. He told the bureau workforce that

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Speaker 3: he plans to resign at the end of President Biden's

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Speaker 3: term in January.

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Speaker 9: After weeks of careful thought, I've decided the right thing

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Speaker 9: for the Bureau is for me to serve until the

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Speaker 9: end of the current administration in January and then step down.

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Speaker 3: FBI Director Christopher Ray's announcement comes a week and a

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Speaker 3: half after Trump said he would nominate loyalist cash Buttel

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Speaker 3: for the job well.

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Speaker 1: Karen, Trump has tapped another ardent supporter to be part

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Speaker 1: of his team. Carrie Lake, the former television anchor who

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Speaker 1: ran unsuccessfully for the US Senate and for governor in Arizona,

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Speaker 1: is Trump's pick to be the next director a Voice

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Speaker 1: of America. The organization began broadcasting during World War II.

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Speaker 1: It provides news in more than forty languages to audiences

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Speaker 1: and readers around the world.

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Speaker 3: Nathan Meta Platforms has donated one million dollars to President

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Speaker 3: elect Donald Trump's inaugural fund. It's part of an effort

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Speaker 3: to build a positive relationship with the administration after a

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Speaker 3: tense history. Meta owns Facebook and Instagram, platforms that Trump

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Speaker 3: used heavily during his first term, until his accounts were

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Speaker 3: suspended following the riot at the Capitol. Meta bands accounts

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Speaker 3: out of concern that Trump would spur further violence by

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Speaker 3: denying Biden's election victory. Trump's accounts were reinstated in twenty

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Speaker 3: twenty three.

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Speaker 1: Karen Elon Musk, whose wealth has been turbocharged since Trump's

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Speaker 1: win last month, has reached a new milestone, and we

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Speaker 1: get the details on that from Bloomberg's Valery Tel.

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Speaker 10: He has become the first person to exceed four hundred

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Speaker 10: billion dollars in net worth. That comes down to four

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Speaker 10: hundred and forty seven billion dollars is tracked by the

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Speaker 10: Bloomberg's Billionaire's Index. Its latest milestone for Elon Musk, the

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Speaker 10: world's versus person. It also saw the biggest one day

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Speaker 10: wealth jump on record for an individual, sixty two point

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Speaker 10: eight billion dollars he added to his net worth, Some

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Speaker 10: of that due to the rally in Tesla shares and

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Speaker 10: a share sale in space X.

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Speaker 1: Bloomberg's Val Titel says Musk has added about two hundred

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Speaker 1: and eighteen billion dollars to his net worth since the

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Speaker 1: start of the year.

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Speaker 3: Well Nathan. President elect Trump is slated to ring the

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Speaker 3: opening bell at the New York Stock Exchange today. Investors

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Speaker 3: have seen the stock markets sore to new heights since

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Speaker 3: the election as they cheer the president elects plans to

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Speaker 3: cut taxes and deregulate.

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Speaker 1: As for markets this morning, Karen futures are pointed lower

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Speaker 1: after a tech driven rally on Wall Street. The Nasdaq

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Speaker 1: one hundred climbed one point nine percent yesterday to a record,

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Speaker 1: while the S and P five hundred rows eight tenths

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Speaker 1: of one percent, near a recent peak. Victoria Fernandez is

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Speaker 1: chief market strategistic cross Mark Global Investments.

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Speaker 11: Sentiment is high because we feel like there's going to

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Speaker 11: be a a pro business administration coming in that should

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Speaker 11: be good for businesses, good for the labor market. So

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Speaker 11: there's these elements that are supporting this economy. But I

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Speaker 11: do think we have to be a little bit cautious.

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Speaker 11: Once we get through the inauguration, chopping markets will probably

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Speaker 11: be coming.

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Speaker 7: Back cross marks.

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Speaker 1: Victoria Fernandez notes Wall Street's fear gauge, the Vicks fell

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Speaker 1: below fourteen yesterday. That's an indication the market is expecting

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Speaker 1: calm in the near term.

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Speaker 3: Well, Nathan, the rally was driven in part by yesterday's

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Speaker 3: CPI report, as cemented expectations that Fed we'll keep cutting

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Speaker 3: interest rates and we'll get another reading on inflation this morning.

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Speaker 3: With the Producer Price Index for November, we get a

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Speaker 3: preview with Bloomberg's Michael McKee.

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Speaker 8: Prices at the Factory Gator are forecasts who have risen

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Speaker 8: in November, much the same as consumer prices reported yesterday.

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Speaker 8: But like the CPI, what will matter is the composition

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Speaker 8: of the increases. What's up and what's down. Will it

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Speaker 8: reinforce the Fed's confidence the economy remains on track to

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Speaker 8: get to its two percent target. The PPI matters because

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Speaker 8: the Fed's target is based on the Personal Consumption Price Index,

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Speaker 8: an alternate to the CPI and the PCEE, which comes

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Speaker 8: out at the end of the month, incorporates a number

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Speaker 8: of data points from the PPI report, so any market

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Speaker 8: reaction may not come from what we see, but promote

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Speaker 8: economists and markets think we'll see ahead. Michael McKee, Bloomberg Radio.

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Speaker 7: All Mike.

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Speaker 1: Thanks to Europe, We've got a surprise move from the

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Speaker 1: Swiss National Bank at unexpectedly cut its interest right by

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Speaker 1: fifty basis points this morning to a half percent, and

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Speaker 1: later this morning the European Central Bank is expected to

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Speaker 1: cut rates for the fourth time this year.

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Speaker 3: Well, Nathan, The Fed makes its final right decision of

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Speaker 3: the year next week, and ahead of that, we've been

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Speaker 3: speaking with Treasury Secretary Janety Yellen before she leaves office

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Speaker 3: next month. Yellen says that Trump administration should continue the

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Speaker 3: dialogue she's re established with China, and she's sending a

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Speaker 3: warning about tears.

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Speaker 12: Broad base tariffs. Almost all economists agree that what they

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Speaker 12: will do is hurt us by raising prices, possibly substantially,

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Speaker 12: and making it more expensive for firms that need inputs

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Speaker 12: from China to be able to acquire them, in harmworrek

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Speaker 12: competitiveness of firms that rely on those imports.

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Speaker 3: Treasury Secretary Janet Yellen spoke with the Bloomberg's David Gura,

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Speaker 3: head of the next round of economic talks between the

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Speaker 3: US and China. Those are set for today on the

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Speaker 3: sidelines of a group of twenty deputies meeting in Johannesburg.

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Speaker 1: Let's check some stocks on the move this morning.

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Speaker 7: Karen's.

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Speaker 1: Shares of Adobe are down more than ten percent in

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Speaker 1: early trading. The company, known for its software for creative professionals,

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Speaker 1: gave a disappointing annual sales outlook that's underscoring concerns Adobe

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Speaker 1: may lose business to emerging artificial intelligence based startups and Nathan.

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Speaker 3: Microsoft plans to take an eight hundred million dollar charge

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Speaker 3: after General Motors said it was shutting down its autonomous

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Speaker 3: taxi initiative. Microsoft had announced a minority investment in GM's

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Speaker 3: Cruise in twenty twenty one, part of a two billion

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Speaker 3: dollar investment round in the self driving car startup. And

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Speaker 3: it's time now for look at some of the other

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Speaker 3: stories making news in New York and around the world.

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Speaker 3: And for that we're joined by Bloomberg's Michael Barr.

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Speaker 7: Michael, good morning, Good morning, Karen. We'll have the latest

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Speaker 7: in South Korea in just a moment. But first we

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Speaker 7: have some breaking news. President Joe Biden is commuting the

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Speaker 7: sentences of roughly fifteen hundred people who were released from

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Speaker 7: prison and placed on a home confinement during the coronavirus pandemic,

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Speaker 7: and is partnering thirty nine Americans convicted of nonviolent crimes.

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Speaker 7: It is the largest single day act of clemency in

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Speaker 7: modern history. South Korea's opposition filed a second impeachment motion

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Speaker 7: against President yunsakiol today, with the likelihood of its passage

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Speaker 7: increasing has more ruling party members indicate they will support it.

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Speaker 7: The motion was filed after Yun made a defiant speech

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Speaker 7: earlier in the day in which he tried to justify

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Speaker 7: his shock martial law declaration last week and insisted he

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Speaker 7: would fight any case against him.

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Speaker 13: Un through an interpreter, Minorman, Dear citizens, the opposition party

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Speaker 13: is accusing me as a fellow and is now trying

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Speaker 13: to remove me from the presidency immediately. I will not

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Speaker 13: give in to their demands.

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Speaker 7: The Democratic Party needs to secure two hundred votes in

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Speaker 7: parliament to pass the motion and attempt to impeach him.

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Speaker 7: Last Saturday failed to reach that threshold after June's People

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Speaker 7: Power Party boycotted the vote. Southern California fire officials say

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Speaker 7: the fast moving Franklin fire is seven percent contained. Incident

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Speaker 7: Commander Dusty Martin says it's so far burned over four

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Speaker 7: thousand acres.

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Speaker 14: Currently, we have sixty three hundred citizens that are evacuated

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Speaker 14: out of their homes, and I want you to know that.

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Speaker 7: We do not take that likely.

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Speaker 13: Our team, our unified command, we are working diligently to

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Speaker 13: get the area secured to be able to get people

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Speaker 13: back into their homes.

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Speaker 7: Incident Commander Dusty Barton also says the wildfire has destroyed

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Speaker 7: about a dozen homes. Finally, what's up with low flying

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Speaker 7: drones hovering over parts of New Jersey, New York, and

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Speaker 7: Pennsylvania in recent days. They are much larger and faster

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Speaker 7: than those typically used by hobbyists. A group of New

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Speaker 7: Jersey mayors attended a briefing yesterday on the sightings of

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Speaker 7: the drones. Local officials are calling on the FBI to

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Speaker 7: speed up the investigation and for the federal government to

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Speaker 7: take action. The Quannock Township Mayor Ryan Hurd attended the

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Speaker 7: briefing and said citizens in his town are concerned for

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Speaker 7: their safety.

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Speaker 1: We need to know where they're lifting off of, where

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Speaker 1: they're going to, why they're doing it. We need to

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Speaker 1: solve this problem, and we need to solve this problem now.

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Speaker 7: He heard says the low flying drones are just a

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Speaker 7: couple one hundred feet over a house. Global News twenty

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Speaker 7: four hours a day and whenever you want it with

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Speaker 7: the Bloomberg News. Now, I'm Michael Barn. This is Bloomberg Heren.

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Speaker 3: All right, Michael Barr, thank you time now for the

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Speaker 3: Bloomberg Sports Update, brought to you by Tri State. Howdy.

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Speaker 3: Here's John Stashawer. John, Good morning, Good morning care.

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Speaker 5: The Bill Belichick hiring at North Carolina is stunning, not

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Speaker 5: just that he's taking a college coaching job after forty

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Speaker 5: eight consecutive NFL seasons, but then it's at a school

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Speaker 5: known much more for basketball. Carolina hasn't won an acc

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Speaker 5: football title in forty four years, but in the release

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Speaker 5: that came out last night, Belichick said he's always wanted

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Speaker 5: to coach college football. It's what his father did. In fact,

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Speaker 5: Steve Belichick, before a thirty four year run at Navy,

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Speaker 5: was a Tar Heels assistant when his son Bill was

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Speaker 5: an infant, and Belichick talked about college football while on

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Speaker 5: ESPN earlier this week.

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Speaker 15: As a pro coach, you always go back every year

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Speaker 15: and go to different schools and look at their players

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Speaker 15: and see their programs and learn from those coaches and

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Speaker 15: their situations as well. So you know, I've got a

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Speaker 15: chance this year to take a longer look at college

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Speaker 15: football during the college season as opposed to in the spring.

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Speaker 15: From the draft perspective, that's been interesting.

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Speaker 5: It's expected that his son, Steve, who coached Undermt. New

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Speaker 5: England currently in the University of Washington, will be a

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Speaker 5: Carolina assistant, perhaps eventually replace his father as head coach.

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Speaker 5: The Knicks are not going to Vegas for the NBA

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Speaker 5: Cup Semifinals, looking like they would be at the Garden

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Speaker 5: at a twelve point lead, but Atlanta, whether twenty five

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Speaker 5: to six run in the third quarter, went on to

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Speaker 5: win one o eight to one hundred. Hawks held by

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Speaker 5: twenty two offensive rebounds and by the Knicks making only

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Speaker 5: eleven of forty two to three pointers. An off night

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Speaker 5: for Jalen Brunson, he shot five of fifteen. Atlanta will

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Speaker 5: now play Milwaukee. Houston will take on Oklahoma City the Rockets,

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Speaker 5: a ninety one to ninety winner to Golden State. Much

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Speaker 5: they went for the Rangers in Buffalo Mecas Avantage Ad

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Speaker 5: scored seven minutes in Stay won nothing for forty six

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Speaker 5: and a half minutes, and then each team scored twice

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Speaker 5: over the last six and a half. Rangers won three

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Speaker 5: to two Saint John's and nine seventy seven went over Bryant.

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Speaker 5: At the Winner Meetings, the Red Sox sent four prospects

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Speaker 5: to the White Sox for Chicago's Best Picture Garrett Crochet.

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Speaker 5: The Giants making yet another quarterback James Drew Locke has

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Speaker 5: a heel injury. They'll go back to Tommy DeVito's Sunday

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Speaker 5: at MetLife against Baltimore. John stash Ewa Bloomberg Sports Karen Nathan.

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Speaker 7: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 7: and around the world on Bloomberg dot Com and the

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Speaker 7: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

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Speaker 7: Nathan Hager.

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Speaker 1: We turned now to our exclusive conversation with Treasury Secretary

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Speaker 1: Janet Yellen. She joined Bloomberg's David Gora for a wide

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Speaker 1: ranging discussion from the Treasury Department. They touched on the

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Speaker 1: prospect for expanded tariffs in a second Trump administration, the

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Speaker 1: federal deficit, and the relationship between the US and China.

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Speaker 7: Let's listen in.

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Speaker 12: I do think it's important to have ongoing communications at

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Speaker 12: all levels, from the President and she talking to senior

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Speaker 12: US officials to staff that need to communicate. Just having

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Speaker 12: open channels of communication is valuable, and I believe it

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Speaker 12: will be seen as continuing to offer value. These are

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Speaker 12: channels by which we can make clear what we're unhappy about,

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Speaker 12: where our concerns are, and why we have them. Well,

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Speaker 12: we have significant concerns about Russia's economic policies that we

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Speaker 12: discussed in these channels. It's also the case that we

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Speaker 12: have shared global interests, whether it's in climate change, combating pandemics,

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Speaker 12: dealing with potential financial disruptions that could affect global financial markets.

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Speaker 12: We're also using these channels to build trust, in channels

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Speaker 12: for cooperation so that we can work together where our

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Speaker 12: interests coincide. So there's no question that we have serious concerns,

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Speaker 12: both from a national security point of view and a

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Speaker 12: broader economic view with China's behavior. But nevertheless, is the

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Speaker 12: two largest economies in the world. It's critical to have

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Speaker 12: open channels of communication. It helps avoid misunderstandings.

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Speaker 14: You have a particular insight into what makes your counterparts tick.

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Speaker 14: I imagine through those conversations that you've had, and so

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Speaker 14: we've seen the present LEF talk about large universal punitive tariffs.

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Speaker 14: Do you have any insight into how they might respond

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Speaker 14: if they are threatened with something like that.

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Speaker 12: I really don't want to make a forecast. Many countries,

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Speaker 12: when they're faced withilateral actions of that sort, look for

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Speaker 12: to retaliate, and my guess would be that they would

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Speaker 12: do that. We have in areas of concern where I've

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Speaker 12: expressed repeatedly concerns with over capacity that is developed in

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Speaker 12: Chinese advanced manufacturing industries and clean energy, semiconductors and the like.

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Speaker 12: We think it reflects active