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

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Speaker 1: Charlie pellett Rio. De Janeiro joins the party, rushering in

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Speaker 1: twenty twenty six. Zoron Mom Donni meanwhile, is set to

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Speaker 1: begin his first day as mayor of New York City.

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Speaker 1: That's after a private swearing in ceremony in the early

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Speaker 1: hours of the new year. The incoming mayor will take

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Speaker 1: his oath of office on a century's old Quran, marking

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Speaker 1: the first time that a mayor of New York has

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Speaker 1: used Islam's holy text to be sworn in. President Trump

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Speaker 1: is delaying tariff increases on upholstered furniture, kitchen cabinets, and vanities,

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Speaker 1: easing the pace of his levees as voter frustration over

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Speaker 1: price levels continues to simmer. The White House published a

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Speaker 1: fact sheet on the presidential Proclamation New Year's Eve. The

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Speaker 1: higher tariffs were due to take effect New Year's Day,

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Speaker 1: but they will now take effect January first, twenty twenty seven.

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Speaker 1: The Trump administration is increasing scrutiny of childcare payments to

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Speaker 1: all states following allegations of fraud linked to daycare centers

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Speaker 1: in Minnesota. At a New Year's eve galat mar A Lago.

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Speaker 1: President Trump took time to address the issue, to.

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Speaker 2: Take back our country.

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Speaker 3: Can you imagine they still eighteen billion dollars.

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Speaker 4: That's just what we're learning about. That's Peters in California's worse,

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Speaker 4: Illinois is worse, and Santaday, New York is worse, a

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Speaker 4: lot of other places. So we're going to get to

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Speaker 4: the bottom of all of.

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Speaker 3: And it's a giant scam.

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Speaker 2: Other than that, we're.

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Speaker 1: Going to have a great geew Former special counsel Jack

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Speaker 1: Smith says fellow Republicans were willing to cooperate with the

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Speaker 1: investigation into Trump's attempts to overturn the results of the

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Speaker 1: twenty twenty election.

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Speaker 2: President Trump willfully retained highly classified documents after he left

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Speaker 2: office in January of twenty twenty one, scoring them at

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Speaker 2: a social club, including in a ballroom and a bathroom.

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Speaker 2: He then repeatedly tried to obstruct justice to conceal his

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Speaker 2: continued retention of those documents.

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Speaker 1: Smith secured indictments against Trump in the election interference case

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Speaker 1: and the classified documents case, but dropped both cases after

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Speaker 1: Trump was re elected president. President Trump, meanwhile is sharing

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Speaker 1: a New York Post editorial that criticizes the Kremlin and

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Speaker 1: argues Trump should quote turn up the heat on Russia,

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Speaker 1: and the president says he is removing National Guard troops

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Speaker 1: from Chicago, Los Angeles, and Portland, claiming that his deployments

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Speaker 1: had helped reduce crime in the nation cities. Taiwanese President

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Speaker 1: Lee Ching ties vowing to strengthen defense capabilities. That is

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Speaker 1: after China held its most intrusive military exercises around Taiwan.

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Speaker 1: The US military says it struck five alleged drugs smuggling

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Speaker 1: votes over two days, killing a total of eight people,

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Speaker 1: while others jumped overboard and may have survived. US Southern Command,

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Speaker 1: which oversees South America, did not reveal where the attacks

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Speaker 1: on Tuesday and Wednesday occurred. Previous attacks have been in

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Speaker 1: the Caribbean Sea and in the Eastern Pacific Ocean. President

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Speaker 1: Trump is issued the first vetos of his second term,

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Speaker 1: killing two bills sponsored by Republicans in Congress, and with

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Speaker 1: that story from Washington Bloomberg's Amy Morris.

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Speaker 3: President Trump vetoed two bills, including one from Representative Lauren Bobert,

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Speaker 3: who had bucked the administration over the release of files

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Speaker 3: pertaining to Jeffrey Epstein. That bill would have completed a

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Speaker 3: water pipeline project. The other bill would expand the territory

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Speaker 3: of a small Native American tribe in Florida, but Trump

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Speaker 3: vetoed that, saying that the tribe opposed his immigration policies

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Speaker 3: when they sued over construction of a detention center in

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Speaker 3: the Everglades. Both bills did have strong bipartisan support in Congress,

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Speaker 3: so that leaves open the possibility that lawmakers could revive

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Speaker 3: them when they returned to Washington. In Washington, Amy Moore

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Speaker 3: as Bloomberg Radio.

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Speaker 1: The trading year of twenty twenty five is behind us.

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Speaker 1: It is on to twenty twenty six. For the year,

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Speaker 1: the SMP five hundred index was up sixteen point four percent,

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Speaker 1: three up years in a row. Eric Wiener is Bloomberg's

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Speaker 1: senior editor for Equities Americas.

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Speaker 4: It's very rare that you see this kind of a

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Speaker 4: three year run in the stock market. The SMP five

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Speaker 4: hundred was up twenty three percent two years ago, twenty

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Speaker 4: two percent last year, and what sixteen percent this year. Basically,

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Speaker 4: you don't see that happening since really the the dot

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Speaker 4: com bubble.

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Speaker 1: Bloomberg's Eric Wiener So the S and P five hundred

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Speaker 1: index ended twenty twenty five at sixty eight forty five,

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Speaker 1: down fifty, a drop of seven tenths of one percent.

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Speaker 1: The Dow down three hundred three, down six tens, New

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Speaker 1: Stack down eight tenths of one percent. Again, for the year,

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Speaker 1: the SMP five hundred index advanced sixteen point four percent.

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Speaker 1: And that's news when you want to with Bloomberg News now,

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Speaker 1: I'm Charlie Pelatan. This is Bloomberg