WEBVTT - Putin Reportedly Open to Truce Talks; Wall Street Awaits Nvidia Earnings

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow.

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<v Speaker 1>Here are the stories we're following today.

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<v Speaker 2>Karen, we begin with the latest developments in the Russia

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<v Speaker 2>Ukraine war. Reuters is reporting Vladimir Putin is willing to

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<v Speaker 2>talk with President like Donald Trump about a ceasefire deal

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<v Speaker 2>in Ukraine that could roughly freeze the war along current

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<v Speaker 2>front lines. We get more from Bloomberg's Oliverkruk.

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<v Speaker 3>There's room for negotiation over carve outs over the four

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<v Speaker 3>regions of Donetskluhan, Saparija, and Karazon. And then we also

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<v Speaker 3>know that they're open to withdrawing potentially. So this is

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<v Speaker 3>the Russian talking about potentially withdrawing from small patches of

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<v Speaker 3>territory in other parts of Ukraine. Now, another point that

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<v Speaker 3>he will insist on, Putin will insist on, is that

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<v Speaker 3>Ukraine abandon his ambitions to join NATO again. This is

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<v Speaker 3>potentially closer to a wishless from what the Russian side wants,

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<v Speaker 3>but it is significant because if it is accurate, this

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<v Speaker 3>is some of the first sort of concrete sketches we

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<v Speaker 3>have heard from the Russian point and potentially a sort

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<v Speaker 3>of opening negotiation discussion.

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<v Speaker 2>Bloomberg Zali Krook says President Biden's decision to allow Ukraine

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<v Speaker 2>to use long range missiles inside Russia could complicate any settlement.

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<v Speaker 2>In another development, Bloomberg News has learned the US has

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<v Speaker 2>decided to provide Ukraine with anti personnel land mines to

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<v Speaker 2>blunt the advance of Russian troops.

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<v Speaker 1>Meanwhile, Nathan the US Embassy in Kiev says it's received

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<v Speaker 1>warning of a potentially significant Russian air attach and would

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<v Speaker 1>be closed as a precaution. The embassy also instructed employees

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<v Speaker 1>to shelter in place, and also recommended that US citizens

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<v Speaker 1>in Kiev be prepared to immediately shelter in the event

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<v Speaker 1>of an air alert and Karen All.

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<v Speaker 2>This comes on the heels of the final day of

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<v Speaker 2>the G twenty summit in Rio de Janeiro. The meeting

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<v Speaker 2>was marked by tension and this unity. Leaders failed to

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<v Speaker 2>agree on language characterizing the wars in Ukraine in the

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<v Speaker 2>Middle East. The summit was also overshadowed by the looming

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<v Speaker 2>return of Donald Trump to the White House. Diplomats are

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<v Speaker 2>wondering what kind of role the US will play in

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<v Speaker 2>world affairs under his leadership. Bloomberg's Roz Matheson has more

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<v Speaker 2>from London.

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<v Speaker 4>It seems like this meeting was particularly chaotic as well.

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<v Speaker 4>We had that weirdness over the family photo where three

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<v Speaker 4>of the leaders missed it. It had to be redone

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<v Speaker 4>in a different setting a day later, which was all

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<v Speaker 4>a bit awkward, and it just seems to reflect the

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<v Speaker 4>fact there was a lot going on behind the scenes

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<v Speaker 4>in terms of disagreements and arguments over be it the

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<v Speaker 4>war in Ukraine, but also the conflict in the Middle East,

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<v Speaker 4>and more than anything, hanging over it the sense of

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<v Speaker 4>the fact that Donald Trump's returning to the White House

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<v Speaker 4>and what that means for these leaders and for the

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<v Speaker 4>rest of the world.

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<v Speaker 2>Bloomberg's Roslind Matheson says the summit was built as a

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<v Speaker 2>moment for the West and the rest to show unity,

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<v Speaker 2>but it served to show how quickly the guardrails are

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<v Speaker 2>coming off the international rules based order.

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<v Speaker 1>All right, Nathan, Now let's get to the leaatest on

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<v Speaker 1>that Trump a transition president like Trump has added read

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<v Speaker 1>more big names to his cabinet. He's tapped Kenner Fitzgerald CEO,

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<v Speaker 1>Howard Lutniks, Comer Secretary after taking him out of the

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<v Speaker 1>running for Treasury. Linda McMahon, the former World Wrestling Entertainment

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<v Speaker 1>CEO and small business administrator in the first Trump administration,

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<v Speaker 1>is Trump's choice to lead the Education Department, and Trump

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<v Speaker 1>has named Memetaz, the celebrity doctor, to lead the centers

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<v Speaker 1>for Medicare and Medicaid Services. We get more on that

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<v Speaker 1>pick with Bloomberg's Wendy Benjaminson in Washington.

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<v Speaker 5>He was a professor of medicine at Columbia University, but

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<v Speaker 5>he has spent a good deal of his career in

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<v Speaker 5>the last ten years promoting, you know, sort of fringe

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<v Speaker 5>fringe medical things, a lot of wellness stuff that isn't

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<v Speaker 5>quite you know, on the beam with a lot of

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<v Speaker 5>the medical community.

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<v Speaker 2>As for the Treasury choice, Karen President like, Trump's working

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<v Speaker 2>to get that back on track, sources tell Bloomberg News.

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<v Speaker 2>He's holding interviews today with two top contenders, former Fed

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<v Speaker 2>Governor Kevin Walsh and Apollo Global Management CEO Mark Rowan.

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<v Speaker 2>Another potential candidate, Tennessee Senator Bill Haggerty spent much of

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<v Speaker 2>yesterday with Trump. Key Square Group founder Scott Bessant is

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<v Speaker 2>also in the running for Treasury.

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<v Speaker 1>Well Nathan oak Tree Capital Management co founder Howard Marx

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<v Speaker 1>is weighing in on the upcoming Trump presidency. He spoke

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<v Speaker 1>with Bloomberg Television in Asia.

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<v Speaker 6>Number one, what's going to happen? Nobody knows. His appointments

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<v Speaker 6>are not firmed. They have yet to be confirmed. His

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<v Speaker 6>policies are not known. What is he going to do?

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<v Speaker 6>Nobody really knows what he's going to do? Number two?

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<v Speaker 6>What else will be going on in the world. He's

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<v Speaker 6>not the only show. It's complicated. Number three?

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<v Speaker 7>How will the market react to all these things?

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<v Speaker 6>Number four? The president's influence on most things is usually

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<v Speaker 6>quite limited.

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<v Speaker 1>Well. Oak Tree Capital Management co founder Howard Marx says

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<v Speaker 1>US stocks are on the high side relative to history.

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<v Speaker 1>He wasn't overly bearish on US assets.

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<v Speaker 2>And in another political development, Karen San Francisco mayor London

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<v Speaker 2>Breed has lost her reelection race to Levi Strauss Air

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<v Speaker 2>Daniel Lourie. The Associated Press called the race yesterday. Breed

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<v Speaker 2>was elected in twenty eighteen as San Francisco's first black

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<v Speaker 2>female mayor. And we should note that Michael Bloomberg, the

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<v Speaker 2>founder and majority owner of Bloomberg Radio parent company Bloomberg LP,

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<v Speaker 2>donated one four to five million dollars in support of

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<v Speaker 2>London Breed's reelection campaign.

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<v Speaker 1>Well, Nathan. Now let's turn to another historic moment for SpaceX.

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<v Speaker 1>The company successfully conducted its six Starship test flight yesterday

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<v Speaker 1>in South Texas, with the Starship successfully reigniting an engine

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<v Speaker 1>in space for the very first time. SpaceX hopes the

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<v Speaker 1>powerful rocket can eventually carry humans and cargo to Earth's orbit,

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<v Speaker 1>the Moon, and even Mars. It did aboord the second

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<v Speaker 1>test of its booster catch, However, citing safety concerns, we did.

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<v Speaker 8>Not attempt a return to the launch site and catch

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<v Speaker 8>attempt today when strict criteria were not met, and the

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<v Speaker 8>super heavy booster executed a planned divert to a landing

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<v Speaker 8>burn and soft splash down in the Gulf of Mexico.

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<v Speaker 1>Standing alongside SpaceX founder Elon at the test launch in Brownsville, Texas,

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<v Speaker 1>President elect Trump, and other Republican allies, including Texas Senator

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<v Speaker 1>Ted Cruz.

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<v Speaker 2>Let's turn back to markets now Karen for what may

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<v Speaker 2>be the most highly anticipated earnings report of the year,

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<v Speaker 2>and Vidia comes out with its latest results after today

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<v Speaker 2>is closing. Bell and Bloomberg's Tom Busby has more.

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<v Speaker 9>And want to expect and Vidia, the final member of

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<v Speaker 9>the Magnificent seven Tech giants and the world's most valuable

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<v Speaker 9>company pois to deliver another blowout earnings report on insatiable

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<v Speaker 9>demand for its artificial intelligence chips. The question for investors

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<v Speaker 9>ken in Vidia ramp up supplies of its latest GPUs,

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<v Speaker 9>the Blackwell Line, after a series of manufacturing setbacks. Bloomberg

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<v Speaker 9>consensus calls for revenue of thirty three point twenty five

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<v Speaker 9>billion dollars, so justin earnings per share of seventy four cents.

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<v Speaker 9>Tom buzzby Bloomberg Radio.

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<v Speaker 1>All right, Tom, thank you. In Europe, UK inflation accelerated

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<v Speaker 1>more than forecast in October to well above the Bank

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<v Speaker 1>of England's two percent target. Consumer price inflation rose to

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<v Speaker 1>two point three percent from one point seven percent in September.

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<v Speaker 1>The figures are likely to lead to a conscious approach

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<v Speaker 1>from the Bank of England, reducing the prospect of further

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<v Speaker 1>interest rate cuts in the coming months. Time now for

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<v Speaker 1>a look at some of the other stories making news

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<v Speaker 1>in New York and around the world, and for that

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<v Speaker 1>we're joined by Bloomberg's John Tucker. John, Good morning, Good morning.

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<v Speaker 10>Karen House panel meets today to consider releasing results of

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<v Speaker 10>an investigation of the former Congressom Matt Gates, president like

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<v Speaker 10>Donald Trump's pick for attorney general. The beating comes after

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<v Speaker 10>a woman reportedly told the Ethics Committee she had sexual

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<v Speaker 10>relations with Gates when she was seventeen years old. New

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<v Speaker 10>York's first and the nation congestion pricing for people driving

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<v Speaker 10>on Manhattan's traffic clock streets faces a legal threat that

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<v Speaker 10>could now kill it. More from Bloomberg's Genae Cervetti.

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<v Speaker 11>Under the plan to ease congestion and pollution, starting on

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<v Speaker 11>January fifth, most drivers will pay nine dollars to enter

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<v Speaker 11>the tolling zone. But if a judge agrees with New

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<v Speaker 11>Jersey Governor Phil Murphy that the plan must undergo additional

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<v Speaker 11>federal environmental roofs, that would almost certainly push the start

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<v Speaker 11>date into the administration of President elect Donald Trump, who

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<v Speaker 11>opposes congestion pricing. Trump, who is to be inaugurated on

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<v Speaker 11>January twentieth, could simply direct the Federal Highway Administration not

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<v Speaker 11>to sign off on the revised program. Genus Cervetti Bloomberg Radio.

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<v Speaker 10>Firefighters extinguish a fast growing brush fire in Upper Manhattan

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<v Speaker 10>that briefly blocked traffic as a deepening drought feeds hundreds

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<v Speaker 10>of blazes across the region. The blaze broke out of

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<v Speaker 10>the Washington Heights neighborhood. Nobody was hurt. The fire came

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<v Speaker 10>one day after New York officials instituted a drought warning,

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<v Speaker 10>and the FDA says an inspection of a TOMS of

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<v Speaker 10>Main facility in Sanford, Maine turned up several violations, including

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<v Speaker 10>bacterian wine are used to make toothpaste and a black

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<v Speaker 10>moldlike substance near manufacturing equipment. Global News twenty four hours

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<v Speaker 10>a day, and whatever you wanted with Bloomberg News. Now,

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<v Speaker 10>I'm John Tucker. This is Bloomberg Nathan Karen.

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<v Speaker 1>All right, John, thank you time now for the Bloomberg

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<v Speaker 1>Sports Update, brought to you by Try State Outye. Here's

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<v Speaker 1>John Stanshawer, John, good morning.

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<v Speaker 7>Good morning Cara.

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<v Speaker 12>We'll see after the season if the Giants shake things up,

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<v Speaker 12>but we now know there will be new faces coaching

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<v Speaker 12>and running the Jets. Six weeks after the firing of

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<v Speaker 12>coach Rob Salad, General manager Joe Douglas shown the door.

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<v Speaker 12>Phil Savage, the former Cleveland gm who've been working as

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<v Speaker 12>the Jets advisor it takes over on an interim basis.

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<v Speaker 12>Douglas was in his sixth season on the job, and

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<v Speaker 12>the Jets record during his time thirty and sixty four

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<v Speaker 12>brought in some good players. His biggest blunder was drafting

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<v Speaker 12>quarterback Zach Wilson's second overall back. In twenty twenty one

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<v Speaker 12>Ranger road trip so far, two games, two wins in Vancouver,

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<v Speaker 12>Chris Kreider's goal midway through the third period gave the

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<v Speaker 12>Blue Shirt to four to three victory Islanders. Also in

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<v Speaker 12>Western Canada, they lost to one in the shootout in Calgary.

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<v Speaker 12>The Nets after two weekend road losses to the Knicks

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<v Speaker 12>back at Barkley's able to top Charlotte one sixteen one

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<v Speaker 12>fifteen Cam Johnson thirty four points. Cleveland brought it's fifteen

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<v Speaker 12>to zero record to Boston, trailed the defending NBA champs

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<v Speaker 12>by twenty one, got the deficit to two in the

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<v Speaker 12>fourth quarter before the Celtics hung on one twenty to one seventeen.

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<v Speaker 12>Donovan Mitchell then reflected on the cavs shockingly strong start.

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<v Speaker 13>It's fun, you know, when you're playing basketball, good basketball,

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<v Speaker 13>and then obviously winning games. Whether it's plowouts, close games,

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<v Speaker 13>come from behind wins. You know, you enjoy these moments

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<v Speaker 13>and for us, you know, it's great to be a

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<v Speaker 13>part of history. I wish would have kept it going,

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<v Speaker 13>but like I said, there's no championships in November. This

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<v Speaker 13>is a great part of the season. Now we just

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<v Speaker 13>continue to not We're not losing to a row. Let's

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<v Speaker 13>go Bicks.

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<v Speaker 12>Start a five game road tip tonight in Phoenix. Managers

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<v Speaker 12>of the Year both winners in their first year on

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<v Speaker 12>the job, Cleveland Steven Vote, Milwaukee's Pat Murphy. The Mets

0:10:43.360 --> 0:10:45.240
<v Speaker 12>Carlos mendoz To finished third. The Mets have bad had

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<v Speaker 12>an outfielder acquiring in a trade with Tampa Bay. Jose

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<v Speaker 12>sirie Hit only won eighty seven last season, be he's

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<v Speaker 12>very good defensively. In Spain, an emotional final match of

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<v Speaker 12>thirty eight year old rap Field of dwa's career. Twenty

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<v Speaker 12>two time Grand Slam winner lost in straight sets in

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<v Speaker 12>Spain's Davis Cup match with the Netherlands. John Stanshdan We're

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<v Speaker 12>Bloomberg Sports Karen Nathan.

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<v Speaker 7>Coast to Coast on Bloomberg Radio nationwide on Sirius XM,

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<v Speaker 7>and around the world on Bloomberg dot Com and the

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<v Speaker 7>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 2>The main story this morning is on developments in the

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<v Speaker 2>Russia Ukraine war. Reuters is reporting that Russia is willing

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<v Speaker 2>to talk with President elect Donald Trump about a ceasefire

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<v Speaker 2>deal with Ukraine. That's after President Biden authorized KIV to

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<v Speaker 2>use long range missiles to strike deeper inside Russia. Ukraine's

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<v Speaker 2>ambassador to the European Union, sevilod Chensov, says, that is

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<v Speaker 2>what's bringing Putin to the table.

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<v Speaker 7>It shows that it works. So if you talk to

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<v Speaker 7>him with a position from strands, so they they're more

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<v Speaker 7>ready for a conversation.

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<v Speaker 2>Ukrainian EU Ambassador sevialod Chensov spoke with Bloomberg this morning,

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<v Speaker 2>and we are joined now by Bloomberg's Kevin Whitelaw. And Kevin,

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<v Speaker 2>we've heard the Kremlin respond to this writer's report saying

0:12:01.559 --> 0:12:05.320
<v Speaker 2>that Russia's always been willing to talk with Ukraine, but

0:12:05.720 --> 0:12:09.959
<v Speaker 2>a freeze wouldn't serve Russia's interests. What to make of

0:12:10.120 --> 0:12:13.880
<v Speaker 2>this latest report that Putin is willing to talk at

0:12:13.960 --> 0:12:15.520
<v Speaker 2>least with President elect Trump.

0:12:16.240 --> 0:12:17.680
<v Speaker 14>Yeah, I think we need to take this with a

0:12:17.679 --> 0:12:20.640
<v Speaker 14>whole bunch of caveats obviously, you know, I think Putin

0:12:20.720 --> 0:12:22.840
<v Speaker 14>is at this point pretty happy to have anyone in

0:12:22.880 --> 0:12:26.360
<v Speaker 14>the West engage with him, but it's not clear that

0:12:26.400 --> 0:12:28.920
<v Speaker 14>he's going to actually give them anything, or at a

0:12:28.960 --> 0:12:31.679
<v Speaker 14>situation where, if you look at this what's been happening

0:12:31.679 --> 0:12:34.880
<v Speaker 14>on the ground, Ukraine has sort of been very very

0:12:35.040 --> 0:12:38.920
<v Speaker 14>very slowly losing in Russia is very very very slowly gaining,

0:12:38.920 --> 0:12:42.120
<v Speaker 14>and so it's in a place where it's not clear

0:12:42.160 --> 0:12:47.199
<v Speaker 14>that Putin has the interest or the imperative to really negotiate,

0:12:48.160 --> 0:12:50.760
<v Speaker 14>and Ukraine would like to get to a position where

0:12:50.760 --> 0:12:55.000
<v Speaker 14>it can, as the ambassador was saying, negotiate from a

0:12:55.000 --> 0:12:58.400
<v Speaker 14>position of strength. So to the degree that Donald Trump

0:12:58.440 --> 0:13:01.480
<v Speaker 14>is going to come in and potentially prompt or start

0:13:01.559 --> 0:13:05.439
<v Speaker 14>or force some kind of a ceasefire conversation right now,

0:13:05.440 --> 0:13:07.319
<v Speaker 14>I think Russia probably feels it as a little bit

0:13:07.320 --> 0:13:09.280
<v Speaker 14>of an upper hand in Ukraine is trying to figure

0:13:09.280 --> 0:13:12.400
<v Speaker 14>out how it can regain that one of the ready

0:13:12.440 --> 0:13:15.199
<v Speaker 14>reasons it was so interested in being able to carry

0:13:15.200 --> 0:13:18.679
<v Speaker 14>out strikes into Russia using these US long range missiles.

0:13:19.240 --> 0:13:22.440
<v Speaker 2>We've also seen not just the long range missile strike

0:13:22.520 --> 0:13:25.640
<v Speaker 2>for the first time, but reports now that President Biden

0:13:25.720 --> 0:13:30.680
<v Speaker 2>is authorizing Ukraine to use short term land mines as well.

0:13:30.720 --> 0:13:34.160
<v Speaker 2>What could that mean for a potential negotiation once President

0:13:34.200 --> 0:13:35.320
<v Speaker 2>Biden is off the scene.

0:13:35.640 --> 0:13:37.640
<v Speaker 14>Yeah, I mean, at this point, you know, Biden is

0:13:37.679 --> 0:13:40.080
<v Speaker 14>trying to pull out just the remaining little stops to

0:13:40.160 --> 0:13:43.160
<v Speaker 14>try to put Ukraine in as strong a position as

0:13:43.240 --> 0:13:46.480
<v Speaker 14>possible for when it you know, for when Trump takes office,

0:13:46.920 --> 0:13:49.920
<v Speaker 14>mean sort of running out of things to do. The missiles,

0:13:50.040 --> 0:13:52.600
<v Speaker 14>long range missiles was probably the most important as far

0:13:52.600 --> 0:13:55.200
<v Speaker 14>as Ukraine was concerned, but you know, the rules are

0:13:55.200 --> 0:13:59.120
<v Speaker 14>coming with some limitations that are are you know, restricting

0:13:59.160 --> 0:14:02.240
<v Speaker 14>some of what Ukraine hoping to use them for. So

0:14:02.320 --> 0:14:04.960
<v Speaker 14>obviously Russia has been able to strike into Ukraine with

0:14:05.000 --> 0:14:08.400
<v Speaker 14>a decent amount of success, particularly when it comes to

0:14:08.400 --> 0:14:11.640
<v Speaker 14>targeting the electrical grid. Ukraine really wants to find ways

0:14:11.640 --> 0:14:14.240
<v Speaker 14>it can try to make it, you know, sort of

0:14:14.320 --> 0:14:17.000
<v Speaker 14>damage the ammunition stocks and some of these you know,

0:14:17.559 --> 0:14:20.040
<v Speaker 14>operating bases that that Russia has been using to stage

0:14:20.080 --> 0:14:23.000
<v Speaker 14>these things. So unclear whether they're going to be able

0:14:23.040 --> 0:14:28.560
<v Speaker 14>to really change the dynamic on the ground. And you know,

0:14:28.600 --> 0:14:31.120
<v Speaker 14>I think if if Russia feels it is very, very

0:14:31.240 --> 0:14:34.880
<v Speaker 14>very slowly winning. It's been able to bring in reinforcement

0:14:35.240 --> 0:14:38.400
<v Speaker 14>troops from North Korea, it's getting weapons from other countries.

0:14:38.720 --> 0:14:40.960
<v Speaker 14>It might feel that it doesn't have quite as much

0:14:41.000 --> 0:14:45.280
<v Speaker 14>of an incentive to to to you know, give Ukraine

0:14:45.320 --> 0:14:49.080
<v Speaker 14>a whole lot in a negotiation, which is why everyone's

0:14:49.120 --> 0:14:52.280
<v Speaker 14>going to be focused on just you know, what Donald

0:14:52.280 --> 0:14:54.920
<v Speaker 14>Trump is going to bring to the table and whether

0:14:55.000 --> 0:14:58.800
<v Speaker 14>he's going to try to force Ukraine to accept the

0:14:59.760 --> 0:15:02.080
<v Speaker 14>you know, kind of deal that it just up to

0:15:02.160 --> 0:15:04.200
<v Speaker 14>now has just been simply unwilling to consider.

0:15:04.360 --> 0:15:06.360
<v Speaker 2>And all this is coming, Kevin, in the backdrop of

0:15:06.400 --> 0:15:08.600
<v Speaker 2>a g twenty summit that saw a lot of disagreement

0:15:08.600 --> 0:15:11.480
<v Speaker 2>over even how to characterize the war in Ukraine in

0:15:11.520 --> 0:15:16.000
<v Speaker 2>our last minute, Where could things go as we continue

0:15:16.000 --> 0:15:17.280
<v Speaker 2>to work through this transition.

0:15:17.680 --> 0:15:19.760
<v Speaker 14>Yeah, well it is a transition. It's a transition in

0:15:19.800 --> 0:15:23.440
<v Speaker 14>several different countries. You've got, you know, in Germany effectively

0:15:23.480 --> 0:15:27.280
<v Speaker 14>a lame duck chancellor with snap elections coming in February.

0:15:28.040 --> 0:15:32.680
<v Speaker 14>You've got the French president Manuel Microme distracted by some

0:15:32.760 --> 0:15:35.160
<v Speaker 14>of his own issues. So you definitely have a Europe

0:15:35.200 --> 0:15:38.680
<v Speaker 14>that has to see if at a time where some

0:15:38.760 --> 0:15:41.480
<v Speaker 14>of its normal leadership voices or maybe not as fully

0:15:41.520 --> 0:15:44.480
<v Speaker 14>engaged on this issue. Can they really find some way

0:15:44.720 --> 0:15:47.200
<v Speaker 14>to step up if the US walks away.

0:15:47.560 --> 0:15:51.000
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<v Speaker 2>Ray