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

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Speaker 1: Doug Prisner. The US Federal Trade Commission has opened an

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Speaker 1: anti trust investigation of Microsoft. This new probe is notable

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Speaker 1: for its broad scope. It covers everything from the company's

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Speaker 1: cloud computing and software businesses to cybersecurity offerings and AI products.

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Speaker 1: Here's Bloomberg's Josh Cisco.

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Speaker 2: This is kind of the first official step and what

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Speaker 2: will be a very long process. They've been working up

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Speaker 2: to this for about a year, doing sort of informal

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Speaker 2: information requests and interviews, and now this is the first

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Speaker 2: time they've compelled Microsoft to turn over what will end

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Speaker 2: up being a tremendous amount of information.

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Speaker 1: And we are told FTC lawyers are set to meet

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Speaker 1: with Microsoft competitors next week to gather more information. Both

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Speaker 1: Microsoft and the FTC declined to comment. Shares in Microsoft

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Speaker 1: today we're down nearly one point two percent. The White

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Speaker 1: House is weighing additional curbs on the sale of semiconductor

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Speaker 1: equipment and AI memory chips to China. We are told

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Speaker 1: the move would escalate the US crackdown on Beijing's tech ambitions. However,

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Speaker 1: it would stop short of some stricter measures. Previously considered,

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Speaker 1: and we are told these restrictions could be unveiled as

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Speaker 1: soon as next week. We go to US inflation next.

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Speaker 1: The Fed's preferred measure of underlying inflation accelerated in October

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Speaker 1: from a year ago. This validates a more cautious approach

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Speaker 1: to cutting interest rates. Bloomberg's Michael McKee has more on

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Speaker 1: the core personal Consumption Expenditures price Index.

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Speaker 3: Inflation has stalled out above two percent. It is exactly

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Speaker 3: what econdom has thought it would be. Two tens rise

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Speaker 3: in the headline PCE for the month of October, and

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Speaker 3: that puts US at two point three four year over

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Speaker 3: year and a three tenths rise in the core two

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Speaker 3: point eight percent year over year. And both of those

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Speaker 3: are increases over where we were.

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Speaker 1: That is Bloomberg's Michael McKee. We go to Mexico next,

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Speaker 1: where President Claudia Scheinbaum spoke with President Electromp today. In

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Speaker 1: a post on x Scheinbaum said the two discussed migration

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Speaker 1: security and Fentanel. This conversation comes after Trump threatened tariffs

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Speaker 1: of twenty five percent on both Mexican and Canadian goods. Now,

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Speaker 1: the Mexican government estimates these levies would cost the American

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Speaker 1: economy as many as four hundred thousand jobs while increasing

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Speaker 1: prices for American consumers, and a short while ago on

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Speaker 1: truth Social Trump said he had a wonderful conversation with

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Speaker 1: Sean Baum, and he said she agreed to stop migration

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Speaker 1: through Mexico and into the United States, effectively closing the

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Speaker 1: US southern border. Trump also said they talked about what

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Speaker 1: can be done to stop the massive drug inflow into

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Speaker 1: the US and also US consumption of these drugs. Trump

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Speaker 1: called it a very productive conversation. Meta CEO Mark Zuckerberg

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Speaker 1: had dinner with President elect Trump at mar A Lago.

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Speaker 1: A META spokesperson said that Zuckerberg was also invited to

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Speaker 1: meet with members of Trump's team about the incoming administration.

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Speaker 1: Blackrock is reportedly close to an agreement to buy the

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Speaker 1: credit group HPS Investment Partners. The Financial Times reports the

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Speaker 1: two sides have agreed on a broad outline of the deal,

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Speaker 1: with a goal of announcing general terms after the Thanksgiving holiday.

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Speaker 1: And the Bank of Korea unexpectedly cut its benchmark interest rate,

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Speaker 1: the BOK lowering its seven day repurchase rate by twenty

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Speaker 1: five basis points to three percent. Now This was a

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Speaker 1: possible preemptive response to growing trade and economic concerns. After

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Speaker 1: the election of Donald Trump as US president, The twenty

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Speaker 1: four X National Exchange has received SEC approval to operate

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Speaker 1: a stock exchange twenty three hours a day, five days

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Speaker 1: a week, and twenty four X is planning to add

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Speaker 1: overnight trading. Thanksgiving dinner is getting cheaper, even with supplies

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Speaker 1: getting tighter. The American Farm Bureau Federation says turkey prices

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Speaker 1: are six percent lower this year. The Bureau says worry

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Speaker 1: about food prices has dampened demand. Michael Swanson is chief

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Speaker 1: agricultural economist at Wells Fargo. He says name brands are

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Speaker 1: actually a money saver this year.

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Speaker 4: We pulled all the data from the Nielsen scan and

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Speaker 4: looked at the average price for you know, what we

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Speaker 4: put together was an average budget, so ninety dollars from

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Speaker 4: name brand, seventy three for going private label. But that's

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Speaker 4: up actually down half a percent for the national brand

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Speaker 4: and up two point seven for the store brand. So

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Speaker 4: kind of an interesting dynamic going on.

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Speaker 1: That is Michael Swanson from Wells Fargo, who was a

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Speaker 1: guest earlier on Bloomberg Surveillance, now The Farm Bureau says

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Speaker 1: the average Turkey Day dinner for ten is fifty eight

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Speaker 1: dollars eight cents. That's down five percent from last Thanksgiving.

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Speaker 1: And that is news when you want it. With Bloomberg

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Speaker 1: News Now, I'm Doug Chrisner, and this is Bloomberg