Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 3: First, a powerful storm has been moving up the eastern
Speaker 3: Seaboard and it is sure to have an effect on
Speaker 3: that part of the country's morning commute. Let's get the
Speaker 3: latest from Bloomberg meteorologists Drob Carolyn, Rob.
Speaker 4: Nathan and Karen. A potent storm system moving up along
Speaker 4: the coast to bring rain heavier times to the Tri
Speaker 4: State area and southern New England. The worst the storm
Speaker 4: has already gone by the district of Baltimore. We'll see
Speaker 4: rain tapering off by midday in the New York City
Speaker 4: area to scattered showers, but the rain will continue late
Speaker 4: in the day through the Boston area. Boston seeing one
Speaker 4: to three inches of rain from this system. Big problem
Speaker 4: with the high winds. High wind advisories and wind warnings
Speaker 4: are an effect from coastal New England all the way
Speaker 4: across Long Island, and we are going to be looking
Speaker 4: at some area seeing gus over fifty five miles an
Speaker 4: hour through the morning.
Speaker 3: Oh wow, Okay, Bloomberg Meteorologist Rob Carolyn. We'll be checking
Speaker 3: back with you throughout the morning.
Speaker 2: Well, now, we want to bring you the latest developments
Speaker 2: in the war in the Middle East, Nathan. International pressure
Speaker 2: is intensifying for a ceasefire. Foreign secretaries from the UK,
Speaker 2: France and Germany are all calling for hostilities to end
Speaker 2: after three hostages were mistakenly shot by the Israeli military.
Speaker 2: We get the latest from Bloomberg's Bill Fairies.
Speaker 5: Politically, Prime Minister net Yahoo under increasing fire domestically because
Speaker 5: of the apparent killing of those three hostages killed by
Speaker 5: Idea forces. That's kind of raised the issue again about
Speaker 5: the situation of the more than one hundred and twenty
Speaker 5: five hostages still being held. You have Secretaria Pentagon Secretary
Speaker 5: Lloyd Austen in the region, expected in Israel possibly today
Speaker 5: raising those same issues. So certainly on all fronts, I
Speaker 5: think the Israeli government finding itself under an increasing amount
Speaker 5: of pressure to at least have come to another temporary cease.
Speaker 2: Fire, and Bloomberg's Bill Fairies are ports. Israel's Foreign minister
Speaker 2: says any call for a ceasefire with Hamas is a
Speaker 2: quote prize for terrorism.
Speaker 3: Well back here in the US, Karen the Top Republic
Speaker 3: and on the Senate Judiciary Committee's weighing in on the
Speaker 3: impeachment inquiries that the House just voted to authorize into
Speaker 3: President Biden, Lindsey Graham says he hasn't been paying much
Speaker 3: attention to them.
Speaker 6: If there were a smoking gun, I think would be
Speaker 6: talking about it. But you know, the narrative that Hunter
Speaker 6: Biden presented his falling apart, the idea that Joe Biden
Speaker 6: knew nothing about the business dealings falling apart.
Speaker 3: And Senator Graham tells NBC's Meet the Press he's more
Speaker 3: worried about the Middle East and securing the border than
Speaker 3: impeaching the president. You can hear Meet the Press every
Speaker 3: Sunday on Bloomberg Radio.
Speaker 2: Meanwhile, Nathan, the White House is take a name at
Speaker 2: former President Trump over his use of inflammatory language to
Speaker 2: describe immigrants, and Bloomberg's Ed Baxter has more.
Speaker 7: The White House says they are on America. The statement says,
Speaker 7: echoing the grotesque rhetoric of fascists and violent white supremacist,
Speaker 7: Trump was trying to rally his base around the issue
Speaker 7: of immigration.
Speaker 8: They're poisoning the blood of our country, that's what.
Speaker 7: They've done, saying they're coming in from all over the world.
Speaker 9: From Africa, from Asia, all over the world. They're pouring
Speaker 9: into country.
Speaker 7: The White House says clear oppression and a threat to democracy,
Speaker 7: and Trump rival Chris Christie on CBS has heard on Bloomberg.
Speaker 8: I don't know how you could take someone like that
Speaker 8: and say that they're fit to be president of the
Speaker 8: United States.
Speaker 7: Trump continues to hold a massive lead in the polls
Speaker 7: of the GOP ed Baxter Bloomberg Radio, All Right, ed,
Speaker 7: thank you.
Speaker 3: Turning to markets and the Federal Reserve, Chicago FED President
Speaker 3: Austin Goulesby says it's too early to declare victory over inflation.
Speaker 3: He says there's still work to do to get price
Speaker 3: pressures down to two percent.
Speaker 7: Twenty twenty three.
Speaker 10: Looks like it's going to end up being a very
Speaker 10: substantial reduction in inflation without a big increase in the
Speaker 10: unemployment rate. That's the golden path that I talked about.
Speaker 10: But we're still above the target. We got to get
Speaker 10: inflation down to target before. Until we're convinced that we're
Speaker 10: on path to that, it's an overstatement to be counting
Speaker 10: the chickens.
Speaker 3: Chicago Fed chief Austin goles We made the remarks on
Speaker 3: CBS's Face the Nation last week policymakers signal they expect
Speaker 3: to cut rates three times next year.
Speaker 2: Well, Nathan that dubvish stands by the FED has some
Speaker 2: a key strategists bullish on the markets. Goldman's Sachs David
Speaker 2: Conston says the S and P five hundred ozer rise
Speaker 2: to a record fifty one hundred next year. He says
Speaker 2: falling inflation and FED easing will keep real yields low
Speaker 2: and support valuations. And Morgan Stanley's Mike Wilson, who's been
Speaker 2: bearish on stalks all year, says the fed's dubbish pivot
Speaker 2: is a positive signal for stocks.
Speaker 10: Well.
Speaker 3: While other top banks have succession plans in place, Karen,
Speaker 3: there's still question about the future leadership at JP Morgan Chase.
Speaker 3: Halfway through Jamie Diamonds special incentive to stay five more
Speaker 3: years as CEO. Insiders are predicting more senior leadership changes
Speaker 3: tell potential successors gather experience. A management shuffle in mid
Speaker 3: twenty twenty one put two deputies into the spotlightman as
Speaker 3: the board prepared to grant Diamond a bonus if he
Speaker 3: remains CEO another half decade. But with neither of those
Speaker 3: two the clear front runner Inside Sourises tell us the
Speaker 3: two consumer banking coheads will likely need to tackle new
Speaker 3: assignments before one of them is ready to run the
Speaker 3: whole company well.
Speaker 2: In deal news this morning, Nathan Amsterdam based chemicals company
Speaker 2: OCI has agreed to sell its US crop nutree and
Speaker 2: business to Coke Industries. The price tag is three point
Speaker 2: six billion dollars. It's a second disposal in a matter
Speaker 2: of days by OCI, which is under pressure from an
Speaker 2: activist investor.
Speaker 3: And IBM has agreed to buy data integration platforms, stream
Speaker 3: sets and web methods from Software ag for two point
Speaker 3: three billion dollars. IBM says the deal will strengthen its
Speaker 3: position as demand increases for cloud services tailored to AI applications.
Speaker 2: And it's time now for a look at some of
Speaker 2: the other stories making news around the world. For that,
Speaker 2: we're joined by Bloomberg's Amy Morris.
Speaker 11: Amy Good morning, Good morning, Karen, a Texas congressman, says
Speaker 11: the Senate at the White House, we'll have to sweeten
Speaker 11: the current border security deal to get an aid package
Speaker 11: for Ukrain in Israel through the House.
Speaker 10: The root of the issue as laby Lean Cartel's as
Speaker 10: terrorist organizations and the other piece is holding these smugglers
Speaker 10: accountable that caused damage and kill Americans.
Speaker 12: Speaking on CBS's Face the Nation, GOP Congressman Tony Gonzalez
Speaker 12: acknowledged that what the Senate and the White House want
Speaker 12: is much different from what the House wants. One Senate
Speaker 12: Democrat says Israeli Prime Minister Benjamin Netanyahu is undermining a
Speaker 12: vision of peace.
Speaker 4: Prime Minister Natnar, who has been an exceptionally difficult partner.
Speaker 12: Delaware Senator Chris Coon said on CBS's Face the Nation
Speaker 12: that President Biden and most of Congress want a two
Speaker 12: state solution with Israel and an independent Palestinian nation. The
Speaker 12: House of Representatives is expected to move forward with its
Speaker 12: impeachment inquiry against President Biden after last week's party line
Speaker 12: vote approving the inquiry. New York Congressman Dan Goldman is
Speaker 12: a former federal prosecutor and served as lead Democratic counsel
Speaker 12: to the first Trump impeachment trial. He says the Biden
Speaker 12: administration has handed over more than one hundred thousand pages
Speaker 12: of documents to House inquiries from.
Speaker 13: The Biden administration has been far above and beyond what
Speaker 13: they need to do under the separation of powers doctrines,
Speaker 13: and certainly far more than what Donald Trump did in
Speaker 13: twenty nineteen when he turned over zero documents.
Speaker 12: The investigation concerns the president's son, Hunter Biden and his
Speaker 12: foreign business deals. Air travel experts have some tips now
Speaker 12: on how we can all navigate the busy holiday season.
Speaker 12: They're wanting to last minute deals for tickets on Christmas
Speaker 12: Day and New Year's Eve, and they say you may
Speaker 12: avoid delays if you travel early in the day, points
Speaker 12: guy Brian Kelly.
Speaker 14: The best advice I have is go early as possible.
Speaker 14: Expedia just did a survey based on tons of flights
Speaker 14: and if you leave after three pm, the odds of
Speaker 14: your flight being delayed canceled are fifty percent greater. So
Speaker 14: even if you're not an early bird, take the early
Speaker 14: flights at.
Speaker 12: LA says the cheapest prices you'll find are for Christmas
Speaker 12: Day and New Year's Eve flights. Global news twenty four
Speaker 12: hours a day and whenever you want it with Bloomberg News.
Speaker 13: Now.
Speaker 12: I'm Amy Morris, and this is Bloomberg Karen.
Speaker 2: Always travel early, all right, Amy, thank you, But we
Speaker 2: do bring you news throughout the day here on Bloomberg Radio.
Speaker 2: But now, as Amy said, you can get the latest
Speaker 2: news on demand, and that means whenever you want it.
Speaker 2: You just subscribe to Bloomberg News Now and you can
Speaker 2: get the latest headlines at the click of a button.
Speaker 2: You can get informed on your schedule. You can listen
Speaker 2: and subscribe to Bloomberg News Now on the Bloomberg Business app,
Speaker 2: Bloomberg dot com plus apples, Spotify, and anywhere else you
Speaker 2: get your podcasts. And it's time now for the Bloomberg
Speaker 2: Sports Update. Here's John stash Hour.
Speaker 9: John Karen has been a surprisingly rough season in Buffalo.
Speaker 9: The Bill's two games out in the AFSE East, but
Speaker 9: fighting to make it in as a wildcard, and they
Speaker 9: serve notice that if they do make it in the playoffs,
Speaker 9: they could be a tough out. The Bills blew out
Speaker 9: the Cowboys thirty one to ten, James Cook one hundred
Speaker 9: and seventy nine yards rushing. It ends the Cowboys five
Speaker 9: game winning streak. They had that big win last week
Speaker 9: were in Philadelphia, but this loss could cost them the division,
Speaker 9: could see them drop from the two seed of the
Speaker 9: NFC all the way down to the five. The forty
Speaker 9: nine ers, right now on course to be the top seed,
Speaker 9: got their eleventh win forty five to twenty nine at Arizona,
Speaker 9: brock Purty through four touchdown passes. As a kid to
Speaker 9: be the NFL MVP, he says his teammate Kristian McCaffrey
Speaker 9: deserves the award. More last night the eleventh win for
Speaker 9: Baltimore twenty three to seven at Jacksonville that drops the
Speaker 9: Jacks to eight and six and now in a three
Speaker 9: way time for first AFC South with Indianapolis, who won
Speaker 9: on Saturday, and Houston came from thirteen down to win
Speaker 9: in overtime at Tennessee. The Texans won without their starting
Speaker 9: quarterback c J.
Speaker 7: Straft.
Speaker 9: Patriots fell to three and eleven lost at home to
Speaker 9: Kansas City twenty seven to seventeen, fifth straight loss for
Speaker 9: the Commanders, beaten by the Rams in LA twenty eight
Speaker 9: to twenty. Celtics now fourteen to zero at home. Jalen
Speaker 9: Brown thirty one points in the one fourteen ninety seven
Speaker 9: win over Orlando. The Warriors won at Portland one eighteen
Speaker 9: to one fourteen, despite Steph Curry square only seven points
Speaker 9: and not hitting a single three pointer. He was zero
Speaker 9: for eight. It's the first time in five years Curry
Speaker 9: has played a game and not made a three. John
Speaker 9: Stashedward Bloomberg Sports.
Speaker 8: From coast to coast, from New York to San Francisco,
Speaker 8: Boston to Washington, d C. Nationwide on SYRIASXAM, the Bloomberg
Speaker 8: Business app in Bloomberg dot Com. This is Bloomberg Daybreak.
Speaker 3: Good morning. I'm Nathan Hager. On this Monday morning, Israel
Speaker 3: is resisting international calls for a ceasefire after its military
Speaker 3: mistakenly shot and killed three hostages who were being held
Speaker 3: by Hamas in northern Gaza. This as ships in the
Speaker 3: all important Red Sea region come under greater attack from
Speaker 3: hootie rebels in Yemen. Monitoring all this for US is
Speaker 3: Bloomberg's Oliver Crook, who has been following the war in
Speaker 3: Gaza since the October seventh Hamas attack on southern Israel.
Speaker 3: And Oliver is here with me now, thanks for being
Speaker 3: with us. So we had this joint letter over the
Speaker 3: weekend from the UK and German foreign secretaries calling for
Speaker 3: a sustainable ceasefire. Francis Foreign Minister following that up with
Speaker 3: calls of her own for a truce. What is the
Speaker 3: Israeli reaction to this growing international call for some kind
Speaker 3: of ceasefire with Hamas.
Speaker 15: Yeah, there's so many dimensions to this. So of course
Speaker 15: from the Israeli perspective, there is a huge amount of
Speaker 15: resistance to talking about sort of ceasefires, general ceasefires, and
Speaker 15: again they've always wanted to say pauses, and the West
Speaker 15: and the sort of supporters of Israel have always sort
Speaker 15: of backed that. But what's interesting if you actually read
Speaker 15: this letter by the UK and the German Foreign Secretary,
Speaker 15: it's very muddled, right, it's but again it speaks to
Speaker 15: the difficulty of a lot of the countries that support
Speaker 15: Israel squaring the circle of what they see as a
Speaker 15: legitimate aim, which is removing Hamas, while at the same
Speaker 15: time not wanting to kill as many civil being killed.
Speaker 15: So on the one hand, they say we want a
Speaker 15: sustainable ceasefire in this letter, but let us be clear,
Speaker 15: we do not believe in calling for it right now
Speaker 15: as a general and immediate ceasefire. First Hamas needs to
Speaker 15: lay down its arms. So these are all conditions that
Speaker 15: they're they're seeing, but again there's no indication that Hamas
Speaker 15: has any intention of doing so they go on and
Speaker 15: talk also about the two state solution and something needs
Speaker 15: to change for a durable solution. But again, you want
Speaker 15: that without sending the signal that terrorism is the way
Speaker 15: to successfully achieve political ends. So you see them really
Speaker 15: squirming around this.
Speaker 3: What about the signal that the US is sending. Of course,
Speaker 3: we have a National Security Advisor, Jake Sullivan in the region.
Speaker 3: In fact, he was in the region when we learned
Speaker 3: of this hostage killing in northern Gaza. Defense Secretary Lloyd
Speaker 3: Austin is in the region as well. What kind of
Speaker 3: pressure is the US bringing to bear right now?
Speaker 15: Completely, let's take a step back. Let's go back to
Speaker 15: last week when Biden was saying that basically the Israelis
Speaker 15: are starting to lose some of the support because of
Speaker 15: the indiscriminate bombing that takes place. Now, that is a
Speaker 15: direct quotation, and that is a fairly strong pronouncement from Biden,
Speaker 15: who's been very supportive of Israel, and who's obviously the
Speaker 15: most important economically, militarily, and almost in every sense supporter
Speaker 15: of Israel. But what you had last week is you
Speaker 15: had Sullivan coming in and this is you know, and
Speaker 15: this is the timeline for the war, and what that
Speaker 15: looks like. The US has been very eager to try
Speaker 15: to get more information from Israel and what that looks like.
Speaker 15: All we've really heard from Israel is that there's three
Speaker 15: major steps. There's the intense military campaign, which is what
Speaker 15: we're in right now. The second step is more surgical
Speaker 15: on the ground, dealing with leadership, and then the third
Speaker 15: is the kind of new security regime. What the US
Speaker 15: is trying to do is trying to get into phase
Speaker 15: two as soon as possible. And you heard that from
Speaker 15: Sullivan on Friday, and you'll probably hear that from Lloyd
Speaker 15: Austin today when he meets with the Israeli and trying
Speaker 15: to really get a picture of what their vision of
Speaker 15: this war is.
Speaker 3: Is Israeli Prime Minister netanyahuo facing domestic pressure as well
Speaker 3: to get to that second phase, given what we saw
Speaker 3: with the hostages over the weekend.
Speaker 15: I think that this is the difficulty, where on the
Speaker 15: one hand, there is this sort of full support in
Speaker 15: Israel of getting rid of Hamas and you know, again
Speaker 15: going to whatever is necessary there to do so. However,
Speaker 15: there is also this increasing pressure, particularly from those who
Speaker 15: have a great, great, great deal of concern for the hostages.
Speaker 15: I mean, they came out with this, it was absolutely
Speaker 15: shocking on Friday to the Israelis that they could have
Speaker 15: killed three of their own hostages, that you know their
Speaker 15: mission is to save them, who came out apparently holding
Speaker 15: white flags and shirt lists to show that there were
Speaker 15: no bombs. Speaking in Hebrew, of course, this is the
Speaker 15: sort of throes of war and a lot of things
Speaker 15: can happen, but that immediately triggered protests in the streets
Speaker 15: of Tel Aviv outside of the Defense ministry, and you're
Speaker 15: going to see that pressure continuing to mount because there
Speaker 15: has been a division from the very beginning from the
Speaker 15: Israelis about how they're conducting this war. Is this the
Speaker 15: best way to do it if you want to get
Speaker 15: the hostages back. There's still one hundred and thirty or
Speaker 15: so left.
Speaker 3: And as this war continues, we're seeing shipping in the
Speaker 3: Red Sea coming under increasing attack from Houti rebels in Yemen.
Speaker 3: There's a complicated response to that as well.
Speaker 15: Yeah, so we had this over the weekend where we
Speaker 15: heard with Moller Mirsk and Hapag Lloyd, both of the
Speaker 15: huge shipping container companies of the world, saying that they're
Speaker 15: basically telling their ship their ships to not go through
Speaker 15: that passage at the Red Sea that passes by Yemen,
Speaker 15: and we'll remember the ever given fiasco right from a
Speaker 15: couple of years ago where the Suez Canal got blocked.
Speaker 15: That's about twelve percent of global trade that goes through
Speaker 15: the Suez Canal, and this is one of the points
Speaker 15: that you need to pass before you get there. So
Speaker 15: again there are sort of the more macro concerns going
Speaker 15: around about this, and of course you have the IDEF
Speaker 15: repeatedly warning still to this day hasn't quieted down in
Speaker 15: the north around Hezbola. So again, all of these are
Speaker 15: still very much alive, and again you're starting to see
Speaker 15: some of the macroeconomic consequences.
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