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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with an apparent reversal from President Trump

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Speaker 3: when it comes to the Jeffrey Epstein files. The President

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Speaker 3: posted on social media last night that House Republicans should

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Speaker 3: vote to require the Justice Department to release its documents

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Speaker 3: on the late sex offender. In the President's words, quote,

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Speaker 3: we have nothing to hide and it's time to move

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Speaker 3: on and quote. It's a shift from a position that

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Speaker 3: had President Trump calling conservative Congresswoman Marjorie Taylor Green a

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Speaker 3: trader and a disgrace to the Republican Party.

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Speaker 4: The most hurtful thing he said, which is absolutely untrue,

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Speaker 4: is he called me a trader. And that is so

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Speaker 4: extremely wrong. And those are the types of words us

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Speaker 4: that can radicalize people against me and put my life

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Speaker 4: in danger.

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Speaker 3: Republican Congressman Marjorie Taylor Green appeared on CNN's State of

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Speaker 3: the Union. House Speaker Mike Johnson had resisted bringing the

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Speaker 3: Epstein files up for a vote until a petition forced

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Speaker 3: his hand. Now he says it shouldn't be an issue

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Speaker 3: for the President.

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Speaker 5: He's not worried about it.

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Speaker 6: I talked to him all the time. He has nothing

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Speaker 6: to do with this.

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Speaker 5: He's frustrated that they're turning it into a political issue.

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Speaker 7: And it's not surprising because the Democrats have nothing else

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Speaker 7: to talk about.

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Speaker 3: How Speaker Mike Johnson was a guest on Fox News Sunday,

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Speaker 3: heard every Sunday on Bloomberg Radio. The House is set

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Speaker 3: to vote on the Epstein Files bill tomorrow.

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Speaker 2: Well, Nathan, it could be back to normal today at

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Speaker 2: the airport. After more than a week of flight restrictions

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Speaker 2: tied to the government shutdown. The Transportation Department and Federal

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Speaker 2: Aviation Administration are allowing airlines to resume normal operations at

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Speaker 2: forty major airports. As of sixth this morning, Wall Street

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Speaker 2: time flight cuts had been capped at three percent through

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Speaker 2: the weekend. They were supposed to rise as high as

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Speaker 2: ten percent by last Friday, before President Trump signed the

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Speaker 2: bill to end the shutdown. FA Administrator Brian Bedford and

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Speaker 2: Transportation Secretary Sean Duffy says staffing levels at air traffic

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Speaker 2: control have continued to snap back since the government reopened.

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Speaker 3: Well Karon, Treasury Secretary Scott Besson says President Trump's proposal

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Speaker 3: to send two thousand dollars dividend payments from tariffs to

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Speaker 3: US citizens would require congressional approval. Bessett was asked by

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Speaker 3: Fox News Sunday Morning Futures anchor Maria Bartiromo whether the

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Speaker 3: President would be sending the payments.

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Speaker 8: We will see. We need legislation for that.

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Speaker 9: And again, President Trump is all about solutions, Maria, and

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Speaker 9: everything is on the table.

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Speaker 3: And again that was Treasury Secretary Scott Besson on Fox's

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Speaker 3: Sunday Morning Futures. President Trump has touted billions of dollars

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Speaker 3: raised in US tariff revenue this year, and he's talked

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Speaker 3: about the checks as public frustration mounts over the cost

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Speaker 3: of living.

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Speaker 2: Let's turn to the Marcus now, Nathan were futures are hire.

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Speaker 2: As we kick off the new trading week, investors are

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Speaker 2: awaiting some key earnings reports in the release have a

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Speaker 2: long delayed economic data. This morning, Morgan Stanley raised its

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Speaker 2: twelve month target for the S and P five hundred.

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Speaker 2: Strategist Mike Wilson says, we're in the midst of a

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Speaker 2: bull market. He's raising his target to seventy eight hundred,

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Speaker 2: and that's about sixteen percent above current levels.

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Speaker 3: Care in the big market. Event of the week comes Wednesday,

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Speaker 3: when in Vidia's highly anticipated earnings report hits. We get

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Speaker 3: a preview from Bloomberg's John Tucker.

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Speaker 5: A Video's report will be closely scrutinized by investors who

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Speaker 5: are increasingly uneasy over stratospheric AI valuations. Now, the chip

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Speaker 5: makers widely expected to deliver another earning speed. Bloomberg Intelligences

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Speaker 5: demand from operators of massive data centers well more than

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Speaker 5: offset problems in videos having in China, But the four

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Speaker 5: and a half trillion dollar company faces questions about SoftBank's

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Speaker 5: recent exit as a shareholder. It's a move that's further

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Speaker 5: fuel concerns that circular investments across the AI industry are

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Speaker 5: creating a bubble. I'm John Tucker, Bloomberg Radio.

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Speaker 2: All right, John, thank you. It's been a vula until

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Speaker 2: month for bitcoin investors. Hundreds of billions of dollars have

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Speaker 2: been a race since October. Begin more with a Bloomberg

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Speaker 2: Markets reporter Valerie title.

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Speaker 10: Bitcoin's reversal from all time highs on October six is

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Speaker 10: really following the broader weakness in tech stocks in the

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Speaker 10: equity market. We know the equity market has not had

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Speaker 10: a good November of Frankly, it's down some five percent

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Speaker 10: from all time highs Lisa Nastak is from late October.

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Speaker 10: But when it comes to bitcoin, you know, obviously the

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Speaker 10: move has been a lot more pronounced. Not only has

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Speaker 10: it wiped out year to date gains, it's also down

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Speaker 10: twenty five percent since it's October a six peak. So

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Speaker 10: in just a month and a half it's gone from

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Speaker 10: one hundred and twenty five thousand to now trading around

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Speaker 10: the ninety five one thousand level. It's wiped out six

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Speaker 10: hundred billion in market cap in that time.

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Speaker 2: And that's Bloomberg's Valerie Titel Looking at bitcoin this morning,

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Speaker 2: it's higher, up two point three percent at ninety five thousand,

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Speaker 2: six hundred dollars.

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Speaker 3: And this morning, Karen Investors have new insights into the

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Speaker 3: holdings of the world's biggest stock picker with the latest

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Speaker 3: thirteen F disclosures to the Securities in Exchange Commission. We

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Speaker 3: get more from Bloomberg Financial reporter Charlie Wells.

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Speaker 7: When you look at some of the holdings, some of

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Speaker 7: the increases in those holdings as far as market value,

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Speaker 7: you've got some familiar names kind of coming up as

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Speaker 7: far as growing over that third quarter. So Nvidia up

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Speaker 7: some eleven billion dollars. Within the holdings of hedge funds,

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Speaker 7: you've got Alphabet and Apple as well. When you think

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Speaker 7: about losers, there's something interesting that's going on here too

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Speaker 7: as well, because it's also tech names. So one of

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Speaker 7: the biggest decliners as far as market value within these

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Speaker 7: hedge funds holdings was Core Weave.

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Speaker 3: And Bloomberg's Charlie Wells notes Core Weave shares are down

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Speaker 3: fifty five percent from their all time high set back

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Speaker 3: in June.

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Speaker 2: Well A thirteen f filing is giving you a big

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Speaker 2: boost to Alphabet shares this morning, Nathan, they're at more

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Speaker 2: than five percent regulatory filing show. We're in Buffett's Berkshire.

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Speaker 2: Hathaway acquired seventeen point nine million shares in the Google

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Speaker 2: parent during the third quarter.

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Speaker 3: And Boeing's just gotten a big win. Karen Emirates is

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Speaker 3: another major order for the playmaker's flagships seven seven seven

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Speaker 3: X airliner. The deal wich Emirates, valued at thirty eight

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Speaker 3: billion dollars, was announced on the first day of the

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Speaker 3: Dubai Air Show. The purchase Cement's Emirates status as the

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Speaker 3: biggest operator of Boeing's largest aircraft.

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Speaker 2: Time now for a look at some of the other

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Speaker 2: stories making news in New York and around the world,

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Speaker 2: and for that we're joined by Bloomberg's and Michael Barr. Michael,

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Speaker 2: Good Morning, Good.

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Speaker 8: Morning, Karen. President Donald Trump says the US may be

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Speaker 8: having some discussions with Venezuelan President Nicholas Maduro. It's a

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Speaker 8: potential diplomatic avenue as the US further builds up its

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Speaker 8: military presence near the South American country with the arrival

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Speaker 8: of its most advanced aircraft carrier. The President spoke while

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Speaker 8: leaving Palm Beach last night.

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Speaker 11: We may be discussing. We may be having some discussions.

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Speaker 2: With Maduro, and we'll see how that turns out.

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Speaker 11: They would like, they would like to talk.

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Speaker 8: The development comes as the Trump administration has carried out

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Speaker 8: a series of military strikes against vessels suspected of transporting drugs. Meanwhile,

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Speaker 8: the US plans to designate a Venezuelan drug cartel it

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Speaker 8: alleges is led by Maduro, as a foreign terrorist organization.

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Speaker 8: New York City mayor elects Zoron Mamdani says that he

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Speaker 8: plans to meet with current Mayor Eric Adams. Mamdani spoke

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Speaker 8: to ABC seven as he prepares to assume office January first.

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Speaker 11: We will be sitting down when he does, and I

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Speaker 11: had a conversation with him, and what I have to

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Speaker 11: say is despite the many political disagreements that we have,

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Speaker 11: I am appreciative of the fact that the transition itself

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Speaker 11: is one that is moving forward.

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Speaker 8: Ma'm Donnie says part of the ongoing transition efforts include

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Speaker 8: their hiring process. His office has received more than fifty

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Speaker 8: thousand applications from all five boroughs since the portal was

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Speaker 8: opened earlier this month. Meanwhile, President Trump plans to meet

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Speaker 8: with Mamdani and said they'll work something out. The New

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Speaker 8: York Mayor's office says Jets cornerback Chris Boyd remains in

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Speaker 8: critical but stable condition after a shooting in Midtown Manhattan.

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Speaker 8: The New York Police Department said Boyd was shot early Sunday.

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Speaker 8: There have been no arrests. Boyd hasn't played this season,

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Speaker 8: his first with the Jets, after going on the injured

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Speaker 8: reserve list in August. Global News twenty four hours a

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Speaker 8: day and whenever you want it with Bloomberg News.

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Speaker 5: Now.

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Speaker 8: I'm Michael Barm and this is Bloomberg Karen.

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Speaker 2: Thanks Michael. Time now for our Bloomberg Sports update, and

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Speaker 2: for that we bring in John Stashauer.

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Speaker 9: Thanks here. And they played for first place in the

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Speaker 9: NFC West and the Rams intercepted Sam Donald four times,

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Speaker 9: beat the Seahawks twenty one to nineteen. Las won five

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Speaker 9: in a row. Also a big NFC game last night

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Speaker 9: in Philadelphia, low scoring affair. The Eagles beat the Lions

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Speaker 9: sixteen to nine. Le Bronco goes on a last playfield

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Speaker 9: goal beat the Chiefs twenty two to nineteen. Denver's won

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Speaker 9: eight in a row. Kansas City is just five and five.

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Speaker 9: Easy win for the Steelers, but an injury to Aaron

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Speaker 9: Rodgers to his left wrist. Initial concern is there's a

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Speaker 9: slight fracture. That's your Bloomberg Sports update.

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Speaker 2: Stay with us. More from Bloomberg day Break coming up after.

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Speaker 1: This, Coast to coast on Bloomberg Radio, nationwide, on Serious

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Speaker 1: Exam and around the world on Bloomberg dot Com and

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Speaker 1: the Bloomberg Business Appum. This is Bloomberg Daybreak.

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Speaker 3: Good morning. I'm Nathan Hager. He's called it a democratic

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Speaker 3: hoax and a smear campaign. Now, in what appears to

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Speaker 3: be a major reversal, President Trump says House Republicans should

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Speaker 3: vote to require the Justice Department to release its files

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Speaker 3: on Jeffrey Epstein. To vote, Republican Congressman Thomas Massey's been

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Speaker 3: pushing for months.

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Speaker 6: I think we could have a deluge of Republicans.

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Speaker 2: There could be one hundred or more. I'm hoping to

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Speaker 2: get a veto proof majority on this legislation when it

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Speaker 2: comes up for a vote.

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Speaker 3: Republican Thomas Massey appeared on ABC's This Week Heard Sundays

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Speaker 3: on Bloomberg Radio before the President's social media post on

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Speaker 3: the issue last night. And we're joined this morning by

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Speaker 3: Bloomberg's Breaking News editor Alexander Pearson. Talk about Breaking news.

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Speaker 3: Alex what's behind this apparent reversal from President Trump on

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Speaker 3: the Epstein files?

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Speaker 6: Good morning, Good morning, Nathan. Yeah, that's right. It's quite

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Speaker 6: a surprising turnaround for President Trump, who, since taking office

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Speaker 6: in January, has resisted the release of these divan of

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Speaker 6: Justice files. He has been coming under increased pressure in

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Speaker 6: the last week. Last week, the House voted for a

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Speaker 6: petition to force this vote that we'll see this week

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Speaker 6: on releasing the files, and that came with a number

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Speaker 6: of Republican lawmakers joining Democrats to vote in favor of

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Speaker 6: that petition, including Representative Massey, but also Representative Majority Taylor Green.

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Speaker 6: Trump's initial reaction was one of well scorn. He publicly

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Speaker 6: denounced Representative Taylor Green, but then this morning, late last night,

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Speaker 6: he then decided to actually support the measure, and his

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Speaker 6: case is that he has nothing to hide and that

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Speaker 6: they can be released as a result in good conscience.

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Speaker 3: Now, this is something that the President has said in

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Speaker 3: the past, even in the social media post last night

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Speaker 3: he said that he has nothing to hide before. But

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Speaker 3: could this be an acknowledgment here that there were cracks

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Speaker 3: forming between the president and his base and that he

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Speaker 3: could be trying to shore them up here?

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Speaker 6: I think yeah, very much.

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Speaker 2: So.

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Speaker 6: There's always been this tension on the Epstein story in

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Speaker 6: terms of Trump's resistance to releasing those those files and

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Speaker 6: many of his circled MAGA supporters, And it does appear that,

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Speaker 6: you know, this might be an attempt by the administration

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Speaker 6: to control this narrative, not to create too much of

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Speaker 6: a division with without part of the base. It also

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Speaker 6: comes after Trump ordered the Dupontment Justice to investigate Epstein's

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Speaker 6: ties to other prominent mainly Democratic officials. So this does

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Speaker 6: seem to be part of a considered effort to just

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Speaker 6: try and control the narrative here and not annoy too

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Speaker 6: many of his people in his own space.

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Speaker 3: Yeah, I did want to ask you about that call

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Speaker 3: last week and apparently heeded by the Justice Department to

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Speaker 3: investigate Jeffrey Epstein's links to Democrats. Does that continue that investigation?

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Speaker 6: Yeah, as far as we're aware at the moment, yes,

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Speaker 6: that does continue. The Department of Justice has opened that

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Speaker 6: probe and that's primarily I mean some of the individuals

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Speaker 6: who are being targeted there are former President Bill Clinton,

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Speaker 6: also former Treasury Secretary Larry Summers. And that will continue

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Speaker 6: as far as we're aware, while this process goes on

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Speaker 6: in the House to on this motion to release the

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Speaker 6: files that the Department of Justice holds.

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Speaker 3: And that motion is, as we say, said, to go

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Speaker 3: up for a vote in the House tomorrow. How are

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Speaker 3: we expecting that vote to go. We just heard from

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Speaker 3: Congressman Massey saying that he's hoping for a veto proof majority.

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Speaker 3: Does it look like he could get it?

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Speaker 6: That's unclear right now. I mean, in terms of just

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Speaker 6: passing the motion, it just requires a simple majority that

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Speaker 6: would then send it to the Senate, and they would

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Speaker 6: require at least sixty votes to ensure it could pass.

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Speaker 6: So in terms of getting a veto proof majority, that

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Speaker 6: would require more. And at this stage it's not really

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Speaker 6: clear how many Republicans you know, are willing to shift. Previously,

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Speaker 6: Speaker Johnson was resisting attempts to have this vote in

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Speaker 6: line with Trump's demands. But now that Trump's actually flipped

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Speaker 6: on this issue, there could be enough support for a

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Speaker 6: veto proof majority. As Representative massicles, Yeah, I.

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Speaker 3: Was going to say in our last thirty seconds, could

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Speaker 3: there be more pressure on Senate Republicans to go ahead

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Speaker 3: and vote in favor of this now that the President

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Speaker 3: has apparently made that reversal.

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Speaker 6: Yeah, very well could be. So we could actually see

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Speaker 6: this pass through to the point where then it lands

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Speaker 6: on the Trump's desk and he signs it. Given his

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Speaker 6: now vocal support for releasing those files, so it very

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Speaker 6: much well could now run through the various stages of

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Speaker 6: Congress and then to Trump's desk unimpeded.

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