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Speaker 2: News when you want it. With Bloomberg News Now, I'm
Speaker 2: Nathan Hager. TikTok may still be on the clock. A
Speaker 2: federal appeals panel in Washington, DC has upheld the law
Speaker 2: that would ban the wildly popular video sharing app in
Speaker 2: the US unless it's Chinese owner Byteedance sells it by
Speaker 2: the day before Inauguration day next month. Bloomberg technology host
Speaker 2: Caroline Hyde has more.
Speaker 3: This is important because half of all Americans use TikTok,
Speaker 3: and even the president to be in twenty twenty five
Speaker 3: uses TikTok. So the view is that probably with nothing
Speaker 3: gets held up, we do hit, but they appeal, and
Speaker 3: basically that's going to push it into the long grass.
Speaker 3: We'll probably get like a ninety day extension come January
Speaker 3: the nineteenth, so that it then is dealt with by
Speaker 3: the next administration, and.
Speaker 2: Bloomberg's Caroline Hyde reports it could make enforcement of the
Speaker 2: band more complicated with Trump's embrace of TikTok. In the meantime,
Speaker 2: the company's competitors are soaring on Wall Street meta platforms.
Speaker 2: The parent of Facebook and Instagram is up two percent.
Speaker 2: Snap owner of Snapchat, is higher by nearly three percent.
Speaker 2: The broader market is rallying off a comeback in the
Speaker 2: labor force. The November jobs report showed two hundred and
Speaker 2: twenty seven thousand new non farm positions created after the
Speaker 2: double whammy of storms and strikes in October, the unemployment
Speaker 2: rate ticked up to four point two percent, but Acting
Speaker 2: Labor Secretary Julie Sue says that is still quite low.
Speaker 4: Those are all signs of an economy that is not
Speaker 4: just recovered, but has been consistently strong and stable and
Speaker 4: continuing to grow.
Speaker 2: Acting Labor Secretary Julie Sue spoke to Bloomberg Television and
Speaker 2: we also got consumers sentiment data from the University of Michigan.
Speaker 2: It's up the most since April after Donald Trump's election win.
Speaker 2: Joeann chu Is, Michigan's director of Consumer Surveys.
Speaker 4: I and large Republicans expect labor markets to strengthen. Democrats
Speaker 4: expect labor markets to weaken, and independence they're still trying
Speaker 4: to figure things out. They're not really reporting much of
Speaker 4: a change from last month.
Speaker 2: Joanne Schue of the University of Michigan spoke on Bloomberg Radio.
Speaker 2: One year inflation expectations jumped in this survey from two
Speaker 2: point seven to two point nine percent, to sign that
Speaker 2: consumers could be bracing for tariffs, But the labor numbers
Speaker 2: have investors thinking the Federal Reserve could have room to
Speaker 2: cut interest rates this month, though Fed Governor Michelle Bowman
Speaker 2: is still preaching caution lowering the policy rate too quickly
Speaker 2: could unnecessarily stoke demand and potentially reignite inflationary pressures, which
Speaker 2: was another concern that I had at the time. Governor
Speaker 2: Bowman spoke at a banker's event in Missouri. But the
Speaker 2: market right now is mostly adding to its records, with
Speaker 2: the S and P five hundred up a quarter percent
Speaker 2: right now now getting close to sixty one hundred. The
Speaker 2: Dow Jones industrial average is little change, but the Nasdaq
Speaker 2: Composite is hired by six tens of one percent, and
Speaker 2: the policy sensitive two year Treasury yield is down three
Speaker 2: basis points to close to four point one point one percent.
Speaker 2: The manhunt is now into its third day for the
Speaker 2: gunman who shot and killed United Healthcare CEO Brian Thompson
Speaker 2: in Midtown Manhattan this week. The New York Post is
Speaker 2: reporting that investigators are processing bullets, a water bottle, and
Speaker 2: a Starbucks cup recovered near the scene. DNA results, the
Speaker 2: report says, could be days away. New York City Mayor
Speaker 2: Eric Adams was on CNBC this morning.
Speaker 5: There's a lot of new information that our detectives and
Speaker 5: other law enforcement entities were able to find based on
Speaker 5: their good old fashioned police work. But as you know,
Speaker 5: there's very a level of sensitivity that you don't want
Speaker 5: to do anything that's going to endanger of the investigation
Speaker 5: or to tip off the suspect.
Speaker 2: New York City Mayor Eric Adams there and police are
Speaker 2: also offering a ten thousand dollars war for information. President
Speaker 2: Delect Trump is offering more support for Pete Hegseth. Trump
Speaker 2: posted on truth Social that support for his Defense Secretary
Speaker 2: nominee is quote strong and deep, much more so than
Speaker 2: the fake news would have you believe. End quote. Hag
Speaker 2: Seth says he has overcome his past alcohol abuse.
Speaker 6: I'm a different man than I was years ago, and
Speaker 6: that's a redemption story that I think a lot of
Speaker 6: Americans appreciate.
Speaker 2: But Pete hegg Seth has yet to win the support
Speaker 2: of Republican Senator Joni Earnst. She's calling for a full
Speaker 2: investigation into allegations of sexual and financial misconduct. Support for
Speaker 2: the video sharing site Rumble is building on Wall Street.
Speaker 2: Those shares are up twenty one percent. Trump is named
Speaker 2: David Sachs to be his first artificial intelligence and cryptos are.
Speaker 2: Sacks is a venture capital investor who holds more than
Speaker 2: a million shares of Rumble. Lulu Lemon stock is up
Speaker 2: seventeen percent following strong overseas sales for the athleisure brand.
Speaker 2: Bloomberg's Bailey Lipschaltz has.
Speaker 6: That US sales ended up being flat on the third quarter,
Speaker 6: but the big growth both thirty nine percent jump in China.
Speaker 6: When you're trying to tease out what companies are going
Speaker 6: to be better positioned for the move forward, clearly seems
Speaker 6: like Lula Lemon is tapping Asia, which I don't think
Speaker 6: many analysts really had on their Bengo car.
Speaker 2: Bloomberg's Bailey Lipschultz reporting Chevron says it's cutting low carbon
Speaker 2: investments by a fourth as the oil explorer trim spending
Speaker 2: across the board and prioritizes profits over energy output. Right now,
Speaker 2: Chevron shares are lower by more than two percent. That's
Speaker 2: news when you want it with Bloomberg News Now. I'm
Speaker 2: Nathan Hager, and this is Bloomberg