WEBVTT - Homebuilder Antitrust Probe, Racist Post Removed from Trump Account, More

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<v Speaker 1>News when you want it with Bloomberg News Now, I'm

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<v Speaker 1>Amy Morris. Trump administration officials are exploring opening an anti

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<v Speaker 1>trust investigation into US homebuilders to tackle the country's housing

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<v Speaker 1>affordability crisis. Bloomberg Real Estate reporter pack Clark says the

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<v Speaker 1>administration's interest in homebuilders comes as the cost of buying

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<v Speaker 1>a home is at its most expensive in decades, with

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<v Speaker 1>the industry facing high levels of unsold homes.

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<v Speaker 2>All this goes back to October, when the President put

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<v Speaker 2>out on a social media post that homebuilders are I mean.

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<v Speaker 2>He likened them to OPEC and complained that builders are

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<v Speaker 2>sitting on more lots than ever.

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<v Speaker 1>Bloomberg Real Estate reporter pack Clark tells Bloomberg Business Week

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<v Speaker 1>Daily the Department of Justice could open the probe in

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<v Speaker 1>the coming weeks. Homebuilders shares are about one percent lower,

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<v Speaker 1>and The Wall Street Journal reports the Justice Department is

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<v Speaker 1>investigating whether Netflix has engaged in anti competitive tactics as

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<v Speaker 1>it probes the streaming giants proposed acquisition of Warner Brothers,

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<v Speaker 1>Discovery Studios, and HBO Max streaming service. A racist post

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<v Speaker 1>on President Trump's social media account depicting former President Obama

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<v Speaker 1>and his wife Michelle Obama as Primates in a Jungle

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<v Speaker 1>has been taken down. The White House initially defended the post,

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<v Speaker 1>accusing critics of false outrage, but that post was deleted

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<v Speaker 1>after widespread backlash. Black and white Republicans joined civil rights

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<v Speaker 1>advocates in criticizing the post as racist. The Dow has

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<v Speaker 1>surged eleven hundred points topping fifty thousand for the first time,

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<v Speaker 1>as the stock market stormed back to recover much of

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<v Speaker 1>its losses from earlier this week. We do check markets

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<v Speaker 1>for you all day long here at Bloomberg. The S

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<v Speaker 1>and P five hundred up one point eight percent, Nasdaq

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<v Speaker 1>up one point nine percent, the Dow up two and

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<v Speaker 1>a quarter percent, the ten year treasury yield at four

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<v Speaker 1>point two percent, the two year yield at three point

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<v Speaker 1>four to nine percent. Bitcoin more than twelve percent higher,

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<v Speaker 1>reclaiming almost all of yesterday's losses, now up to seventy

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<v Speaker 1>thousand dollars. Amazon shares down more than seven percent after

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<v Speaker 1>it's much higher than expected two hundred billion dollars annual

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<v Speaker 1>capital spending forecast underline concerns on how much big tech

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<v Speaker 1>companies are spending on AI related investments. Black Rock CIO

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<v Speaker 1>of global fixed income. Rick Reader says AI is having

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<v Speaker 1>an impact on markets and is the way for companies

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<v Speaker 1>to protect themselves.

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<v Speaker 3>You hear the discussion about capex and the capax was

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<v Speaker 3>too high, and you know, I would argue, there's some

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<v Speaker 3>other things that play there. Cap X is your moat.

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<v Speaker 3>CAPEX and R and d SPAN are the way companies

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<v Speaker 3>can build their moat. And it's actually data utilization and

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<v Speaker 3>the companies that are exploiting data effectively that are building

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<v Speaker 3>bigger moats. That is at the core of what is happening.

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<v Speaker 1>Reader was on Bloomberg Open Interest, JP, Morgan Chase, Goldman, Sachs,

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<v Speaker 1>and Bank of America all boosting their bonus pools for

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<v Speaker 1>bankers and traders by at least ten percent. The payouts

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<v Speaker 1>reflect a strong year for the nation's largest banks, collectively

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<v Speaker 1>posting their largest annual profit since twenty twenty one. Consumer

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<v Speaker 1>sentiment in the US has improved to its highest level

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<v Speaker 1>in six months. The University of Michigan survey shows a

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<v Speaker 1>bump to fifty seven point three. That's up from fifty

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<v Speaker 1>six point four. Survey director Joanne Chu tells Bloomberg that's

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<v Speaker 1>really not a lot.

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<v Speaker 4>So this improvement is very very small.

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<v Speaker 5>It's less than one index point.

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<v Speaker 1>It's well within the.

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<v Speaker 2>Margin of error that should be interpreted as a no change.

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<v Speaker 1>Concerns persist about the job market and the impact of

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<v Speaker 1>inflation on personal finances. Atlanta Fed President Raphael Bostik says

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<v Speaker 1>it's important to keep interest rates at a level that

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<v Speaker 1>returns inflation to two percent.

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<v Speaker 4>Once inflation gets entrantion people's minds, it changes how the

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<v Speaker 4>economy evolves, and it's one of the reasons why I

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<v Speaker 4>think that we need to keep our policy in a

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<v Speaker 4>restrictive posture so that we get inflation back to two percent.

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<v Speaker 4>That's paramount.

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<v Speaker 1>Bostik, who is to step down from his role at

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<v Speaker 1>the end of this month, spoke to Bloomberg TV's Mike

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<v Speaker 1>McKee in an exclusive interview. Federal Reserve Vice Chair Philip

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<v Speaker 1>Jefferson says he's cautiously optimistic about the outlook for the economy.

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<v Speaker 5>I expect the disinflationary process to resume this year once

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<v Speaker 5>increaseds passed through more fully to prices. In addition, projected

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<v Speaker 5>strong productivity growth may be a source of further help

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<v Speaker 5>in bringing inflation down to our two percent targets.

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<v Speaker 1>Jefferson told an event in Washington that with the FED

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<v Speaker 1>strongly committed to returning inflation to its target, the risk

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<v Speaker 1>of a one time shift leading to sustained inflation is low.

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<v Speaker 1>President Trump is reportedly expected to sign an executive order

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<v Speaker 1>today that will quadruple the amount of Argentine beef purchased

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<v Speaker 1>by the US. CBS quotes an unnamed senior administration official

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<v Speaker 1>who says the plan will lower beef costs for consumers.

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<v Speaker 1>The deal would allow Argentina to export one hundred thousand

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<v Speaker 1>tons of beef to the US. Iran says it has

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<v Speaker 1>agreed with the US to continue indirect talks to de

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<v Speaker 1>escalate tensions. Iran's foreign minister says discussions were limited to

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<v Speaker 1>nuclear issues. US officials say they should include Iran's missiles

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<v Speaker 1>and tehran support for regional militias. Tehran described the first

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<v Speaker 1>day of those times positive. Attorney General Pam Bondi says

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<v Speaker 1>a suspect in the September twenty twelve terrorist attack on

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<v Speaker 1>US diplomatic facilities in Benghazi, Libya has been arrested and

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<v Speaker 1>is now in US custody. FBI Director Cash Patel.

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<v Speaker 6>Our Special Flight Operations Unit, and countless others, along with

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<v Speaker 6>the agents in the New York Field Office who never

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<v Speaker 6>forgot Benghazi and never let the world forget it, endured

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<v Speaker 6>over a decade to bring yet another terrorist who killed

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<v Speaker 6>four Americans to justice.

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<v Speaker 1>Hottel says foreign partners aided in the arrest, but he

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<v Speaker 1>did not give any more details. Savannah Guthrie's brother has

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<v Speaker 1>renewed the family's plea for their mother's kidnapper to contact them,

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<v Speaker 1>saying that they want to hear from her and they

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<v Speaker 1>need proof she's alive. Authorities have not identified any suspects

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<v Speaker 1>or persons of interest in the kidnapping of eighty four

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<v Speaker 1>year old Nancy Guthrie. The FBI is offering up to

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<v Speaker 1>fifty thousand dollars for information. That's news when you want

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<v Speaker 1>it with Bloomberg News Now. I'm Amy Morris, and this

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<v Speaker 1>is Bloomberg