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

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today.

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Speaker 2: Karen, we begin in Washington, where the federal government is

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Speaker 2: under a partial shutdown after the uproar over the killings

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Speaker 2: of two US citizens under immigration enforcement. In Minnesota, Democrats

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Speaker 2: are demanding new restrictions on federal agents, including warrant requirements,

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Speaker 2: body cameras, and removal of masks. House Speaker Mike Johnson

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Speaker 2: says the impasse over government funding won't last long.

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Speaker 4: Well, let's say I'm confident that we'll do it at

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Speaker 4: least by Tuesday. We have a logistical challenge of getting

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Speaker 4: everyone in town, and because of the conversation I had

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Speaker 4: with Hakim Jeffries, I know that we've got to pass

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Speaker 4: a rule and probably do this mostly on our own.

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Speaker 4: I think that's very unfortunate.

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Speaker 2: How Speaker Mike Johnson appeared on NBC's Meet the Press.

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Speaker 2: Minority Leader Hakim Jeffrey says the Department of Homeland Security

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Speaker 2: needs dramatic reform.

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Speaker 5: We need to actually build these strict requirements in terms

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Speaker 5: of behavior into the law so that the courts can

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Speaker 5: hold them accountable, and the American people, through their representatives

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Speaker 5: at the state and local level, can hold these individuals accountable.

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Speaker 2: House Benarti leader Hakim Jeffries was a guest on ABC's

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Speaker 2: This Week, and you could hear this Weekend Beat the

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Speaker 2: Press every Sunday on Bloomberg Radio. The Senate passed a

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Speaker 2: bill last week that funds DHS for two weeks to

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Speaker 2: allow more time to negotiate. The rest of the government

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Speaker 2: would be funded through the end of September.

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Speaker 3: Nathan the Democratic candidate for a Texas State Senate seat

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Speaker 3: in a conservative district near Dallas, when a runoff election

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Speaker 3: on Saturday, overcoming a late intervention from President Trump, Taylor

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Speaker 3: Rahmet defeated Republican Lee Walm's guns and the race for

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Speaker 3: the seat in Arren County, which includes ford Worth, getting

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Speaker 3: fifty seven percent of the vote. President Trump carried the

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Speaker 3: district by seventeen percentage points in twenty twenty four.

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Speaker 2: Getting back to Washington Now, Karen, The Justice Department's latest

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Speaker 2: release of its Jeffrey Epstein files continues to reverberate. On Friday,

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Speaker 2: Deputy Attorney JIS General Todd Blanche said the agency had

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Speaker 2: finished its review of six million pages of material on

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Speaker 2: the late sex offender and ultimately released about three and

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Speaker 2: a half million of them. Blanche says congressional leaders can

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Speaker 2: still see the material that's being kept under wraps. He

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Speaker 2: also appeared on ABC's This Week.

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Speaker 5: We have nothing to hide.

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Speaker 6: We have nothing to hide.

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Speaker 3: We never did, and our.

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Speaker 5: Doors are open if they want to come and review

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Speaker 5: any of the materials.

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Speaker 3: That we produce.

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Speaker 2: It's Deputy Attorney General Todd Blanche. But Democratic Congressman Jamie

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Speaker 2: Raskin says all the files need to come out.

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Speaker 3: They've done no real investigation.

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Speaker 7: Their entire determination has been to shut it down to

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Speaker 7: protect Donald Trump.

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Speaker 2: Congressman Jamie Raskin of Maryland appeared on CNN's State of

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Speaker 2: the Union. The latest batch of documents includes a list

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Speaker 2: of unverified tips about President Trump that the Justice Department

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Speaker 2: has called untrue and sensationalist. The Wall Street Journal reports

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Speaker 2: the release also exposed the names of dozens of Epstein's victims,

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Speaker 2: including many who have not shared their identities publicly or

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Speaker 2: were miners when they were abused. DOJ is required to

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Speaker 2: redact all victims' names under the law ordering the files release.

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Speaker 3: Let's turn to the markets now Nathan, where risk off

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Speaker 3: is being felt across the board. Stock futures are falling

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Speaker 3: and precious metals tumbling once again after dropping more than

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Speaker 3: eleven percent on Friday. Spot gold is down another three

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Speaker 3: point seven percent this morning. Spot silver is down three

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Speaker 3: point six percent after plunging twenty six percent on Friday.

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Speaker 3: The rapid declines come after a record breaking rally, and

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Speaker 3: Martin Ritchie covers the metals for Bloomberg.

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Speaker 7: I think throughout last week, all that kind of frenzied trading,

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Speaker 7: all the bulls piling in, I think, you know, there's

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Speaker 7: a lot of warnings that this price was going ahead

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Speaker 7: of reality, but never in the situation. I think across gold, silver,

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Speaker 7: and perhaps even copper and metals where looking to see

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Speaker 7: where people start to buy the dip.

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Speaker 3: And Bloomberg's Martin Richie knows that gold is now down

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Speaker 3: about twenty percent from its all time high.

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Speaker 2: Megan oil is falling today as well. Karen West, Texas

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Speaker 2: Intermedia is down nearly five percent, trading just above sixty

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Speaker 2: two dollars a barrel. The drop comes after President Trump

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Speaker 2: downplayed Iran Supreme leader Iatola Ali hamenies threats of a

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Speaker 2: regional war. Over the weekend, President Trump says he is

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Speaker 2: hopeful the two sides will come to an agreement. Hopefully

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Speaker 2: we will.

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Speaker 3: Make a deal.

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Speaker 2: We don't make a deal, then and we'll.

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Speaker 7: Find out whether or not he was right.

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Speaker 2: And this morning, a spokesman for Iron's Foreign ministry says

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Speaker 2: the country hopes diplomatic efforts to avert a war with

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Speaker 2: the US will bear fruit within days. And there are

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Speaker 2: some new developments this morning on the artificial intelligence front.

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Speaker 2: Karen and Vidia CEO Jensen Wong says the company's proposed

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Speaker 2: one hundred billion dollar investment in open Ai was quote

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Speaker 2: never a commitment, and that the company would consider any

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Speaker 2: funding rounds one at a time. Wong's comments come after

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Speaker 2: The Wall Street Journal reported Friday that in Nvidia's investment

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Speaker 2: plan had stalled after some inside the company expressed doubts

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Speaker 2: about the deal. Wang spoke to reporters in Taipei over

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Speaker 2: the weekend about open Ai and it's CEO Sam Oldman.

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Speaker 5: I believe in.

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Speaker 8: Open Ai, the work that they do is incredible, that

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Speaker 8: one of the most consequential companies time and I.

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Speaker 2: Really love working with Sam. And Vidia CEO Jensen Wong

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Speaker 2: also said, quote I believe in open Ai. They're one

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Speaker 2: of the most consequential companies of our time.

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Speaker 3: Nathan. Let's stay with Ai and shares of Oracle. They

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Speaker 3: are down almost three and a half percent this morning.

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Speaker 3: The company plans to raise forty five billion to fifty

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Speaker 3: billion dollars this year to build additional cloud infrastructure capacity

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Speaker 3: to meet demand. It's largest cloud customers include Advanced micro Devices,

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Speaker 3: Meta platforms and VideA and open Ai. The announcement coincides

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Speaker 3: with persistent fears about whether massive artificial intelligence linked investments

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Speaker 3: by tech companies such as Oracle will pay off.

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Speaker 2: Okay, Karen, let's turn to the weather. Now a large

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Speaker 2: part of the nation's coming off another fridgid weekends. Let's

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Speaker 2: bring in Bloomberg meteorologist Craig Allen to find out whether

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Speaker 2: any letup is inside. Craig, is any letup inside?

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Speaker 9: There's no doubt, there's no doubt right now, Nathan, that

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Speaker 9: the coldest weather is over the eastern quarter of the nation.

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Speaker 9: It's not quite as harsh in the central Plains, or

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Speaker 9: as a matter of fact, it's even warmer in the

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Speaker 9: Rockies right now than it is in parts of Florida.

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Speaker 9: So you've got that there's going to be a very

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Speaker 9: brief reprieve in the bitter, bitter cold, but it'll come

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Speaker 9: right back before this week is through. And you know,

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Speaker 9: we were taking such a hit on the grid and

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Speaker 9: our will it's too you think about all the clean up,

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Speaker 9: all the power outages that are going on across the

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Speaker 9: Carolinas because there was just a wicked blizzard condition across

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Speaker 9: most of the Carolinas. And of course now you've also

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Speaker 9: got freeze warnings for the entire state of Florida for

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Speaker 9: this morning, so that will probably show up agriculturally, you know,

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Speaker 9: in the supermarkets a little bit down the road as well.

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Speaker 9: So yes, there is going to be a little bit

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Speaker 9: of a reprieve, but unfortunately, Nathan Karen, it looks like

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Speaker 9: bitter cold weather. We'll come back towards the end of

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Speaker 9: this upcoming week.

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Speaker 2: All right, Bloomberg Media, just Craig Gallon. Craig, we're going

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Speaker 2: to be checking back with you throughout the morning, and

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Speaker 2: it's time.

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Speaker 3: Now for look at some of their stories making news

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Speaker 3: in New York and around the world, and for that

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Speaker 3: we're joined by Bloomberg's Michael Barr.

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Speaker 6: Michael, good morning, Good morning, Karen. President Donald Trump said

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Speaker 6: he plans to close the John F. Kennedy Center for

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Speaker 6: the Performing Arts for about two years to carry out renovations.

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Speaker 6: President Trump's decision comes after a significant backlash, including prominent

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Speaker 6: artists canceling performances and declining ticket sales following his takeover

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Speaker 6: and renaming of the center to the Trump Kennedy Center.

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Speaker 6: For years, the center was home to the Opera and

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Speaker 6: the National Sympathy Symphony Orchestra. Democrat Taylor Ramet has won

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Speaker 6: a special election for the Texas State Senate and flipped

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Speaker 6: a reliably Republican district that President Trump won by seventeen

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Speaker 6: points in twenty twenty four. The labor union leader and

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Speaker 6: veteran easily defeated Republican conservative activist Lee while in the

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Speaker 6: Fort Worth area district fifty forty three percent. President Trump

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Speaker 6: distanced himself from the lost Sunday after urging votes for

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Speaker 6: womguns a day earlier.

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Speaker 7: I don't know, I think about it.

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Speaker 9: I didn't know.

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Speaker 10: I mean, I know there's a race going there, and uh,

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Speaker 10: STU bid and what can I say?

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Speaker 9: I have nothing to do with it.

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Speaker 6: Ramet is to face womgans again in the November general

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Speaker 6: election to decide the seat for a full four year term.

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Speaker 6: The sixty eighth Annual Grammy Awards took place Sunday in

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Speaker 6: Los Angeles. Bad Bunny has one Album of the Year,

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Speaker 6: the first time a Spanish language album has taken the

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Speaker 6: Grammy's top honor. The Puerto Rican native opened his remarks

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Speaker 6: by saying Ice out.

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Speaker 3: We're not savage, We're not animals, we're not aliens.

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Speaker 9: We aret humans, and we are Americans.

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Speaker 6: Many other artists also use their time on stage to

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Speaker 6: spread a pro immigration and anti ice message. Billy Eilish

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Speaker 6: and Lady Gaga were among the Knights Other winners. Olivia

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Speaker 6: Dean won Best New Artist. Kendrick Lamar won for Best

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Speaker 6: Rap Album and Record of the Year. The Grammys were

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Speaker 6: aired on CBS. Today is Groundhog Day, according to folklore.

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Speaker 6: We'll see if we'll get six more weeks of winter.

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Speaker 6: Global news twenty four hours a day and whenever you

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Speaker 6: want it with the Bloomberg News. Now, I'm Michael Barr

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Speaker 6: and Karen I'm rooting for that rodent. This is Bloomberg.

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Speaker 3: Thanks Michael all time now for our Bloomberg Sports update,

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Speaker 3: and for that we bring in John stash.

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Speaker 9: Hour thanks Karen.

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Speaker 10: All the NFL teams don't have a new head coach.

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Speaker 10: For the Arizona Cardinals, it's Mike Lafleur. He had been

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Speaker 10: the La Rams offensive coordinator for the Las Vegas Raiders.

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Speaker 10: It apparently is going to be Clint Kubiak, the Seattle

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Speaker 10: offensive cornat old that can't become official until after the

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Speaker 10: Super Bowl. Farmer's Insurance Golf in San Diego, Justin Rose

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Speaker 10: led all the way, finished with a twenty three under

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Speaker 10: par score, which was the best score in tournament history.

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Speaker 10: Outdoor hockey and t YEP brother light and he beat

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Speaker 10: the Bruins. That's your Bloomberg Sports update.

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Speaker 3: Stay with us more from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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

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

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Speaker 2: Good morning, I'm Nathan Hagrin. For the second time in

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Speaker 2: just a few months, the federal government is under a

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Speaker 2: partial shutdown, this time amid the national outcry over clashes

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Speaker 2: between immigration enforcement and protesters in Minnesota. But unlike the

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Speaker 2: last time around, the record shutdown. House Speaker Mike Johnson

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Speaker 2: says this one shouldn't last long, but he has a

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Speaker 2: bottom line.

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Speaker 4: We have to allow us to do its job. We

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Speaker 4: have to allow Border patrol to do its job, and

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Speaker 4: we're going to make sure they have the funding to

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Speaker 4: do that.

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Speaker 2: That was House Speaker Mike Johnson on Fox News Sunday,

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Speaker 2: So you can hear every weekend on Bloomberg Radio. This morning,

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Speaker 2: we're joined by Bloomberg DC Breaking News Editor Alexander Pearson.

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Speaker 2: Alex Of course, the Senate passed the bill last week

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Speaker 2: that would fund the Homeland Secure Department for two weeks

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Speaker 2: to allow for negotiations. Is that going to be enough

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Speaker 2: time given where things stand between Republicans and Democrats right now?

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Speaker 2: Good morning, Good morning, Nathan.

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Speaker 8: It's yeah, it's unclear at the moment, given that the

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Speaker 8: Democrats are making a series of demands, some of which

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Speaker 8: the administration has indicated, you know, they would not accept.

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Speaker 8: So the Democrats would like to see body cameras on

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Speaker 8: immigration enforcement officials. It would also like to see identification

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Speaker 8: that agents don't wear masks, and also that agents seek

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Speaker 8: a judicial warrant before searching homes or pulling people out

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Speaker 8: of vehicles. Tom Homan, who's the bordetzaw who's been sent

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Speaker 8: to Minnesota, has indicated that some of those demands are

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Speaker 8: just will not be accepted, such as regarding identification, but

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Speaker 8: they are indications the administration may be open to some

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Speaker 8: of the demands, maybe wearing body cameras or ending what

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Speaker 8: are known as roving operations and cities. But at this

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Speaker 8: point it's still very much stuck in the negotiation phase

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Speaker 8: and whether two weeks will be long enough is questionable,

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Speaker 8: all right.

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Speaker 2: So while we wait for further developments on that front,

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Speaker 2: possibly getting the government open this week, there is a

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Speaker 2: lot more fallout this morning over what sounds like it

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Speaker 2: may be the final release of Epstein files from the

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Speaker 2: Justice Department.

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Speaker 8: Is that our understanding, Yeah, well, that's certainly how it's

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Speaker 8: being portrayed by the Department of Justice. They released millions

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Speaker 8: of documents last week, including vodhas and video footage. But

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Speaker 8: what we do know is that this represents about fifty

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Speaker 8: percent of the files that the department holds. That's proving

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Speaker 8: very controversial, particularly among Democrats, given that the law that

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Speaker 8: was passed last year called on the Department of Justice

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Speaker 8: to release all of the files. And actually by December nineteenth,

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Speaker 8: so this is already quite a significant delay. The Department says,

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Speaker 8: for their part, that they are withholding documents that contain

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Speaker 8: sense of information about victims or that are related to

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Speaker 8: ongoing federal all investigations, and they've given no indication that

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Speaker 8: they are anytime soon going to releasing some of these files.

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Speaker 2: At our last minute. There's a report in the Wall

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Speaker 2: Street Journal this morning that some of that sensitive information

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Speaker 2: may have gotten out anyway.

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Speaker 8: Yes, that's true. So of the millions of documents are

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Speaker 8: released last week, according to the Wall Street Journal, anally

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Speaker 8: they did an analysis and it shows that actually many

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Speaker 8: documents actually contain a lot of sense of information, including

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Speaker 8: full names and in some cases addresses of some of

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Speaker 8: Jeffrey Epstein's victims. The Department has said that when that

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Speaker 8: has been identified, when it's been notified of these lack

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Speaker 8: of redactions, it will take them off it's website and

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Speaker 8: redact the information. But it's already another sort of indication

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Speaker 8: that the handling of this case has not gone as

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Speaker 8: smoothly as it should have, given that the law did

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Speaker 8: say last year that it should redact all information, all

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Speaker 8: sensitive information and regarding victims.

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